Asia Capital PLC, at its Board Meeting on Thursday September 30, unanimously appointed a new Board of Directors led by businessman Thilanga Sumathipala.
Controlling shareholder of Asia Capital, Malaysia based investor Dato Sri Vijay Eswaran said, “I welcome this new paradigm. I am grateful to our previous Chairman for his years of service, and now welcome my friend of two decades who shares with me a similar vision for the company. We both have, since the beginning of the millennium, built bonds of friendship beginning with our common experience in corporate social responsibility.
“I truly believe Thilanga will provide an inspiring and catalytic leadership and be at the helm of directing our common new strategic direction for Asia Capital, thereby creating the platform for Asia Capital for the next decade and post-pandemic era,” he said.
Thilanga Sumathipala, no stranger to Sri Lanka’s Corporate Environment having led family-owned Sumathi Holdings, was the linchpin in the transformation of Sri Lanka Telecom (SLT) from Public Private Partnership to a Public Quoted Company. During his tenure as the Chairman of SLT he was able to acquire Mobitel which was owned by Australian Telecom Giant Telstra.
He foraged into the political arena and served as a Member of Parliament in various capacities being Deputy Minister of Skills Development and Vocational Training, Minister of Technology and Innovation and as the Deputy Speaker of Parliament of Sri Lanka.
He took a step back from active corporate life for the better part of a decade. Astute entrepreneur and businessman, Sumathipala’s return to active corporate engagement is welcomed, and we are privileged to have him lead the strategic new direction of the organisation.
Sumathipala said, “Covid-19 has changed the world as we know it. It has caused all of us to reassess and re-define our roles, and for me personally, as a person passionate about the growth and development of my country, which I believe has massive untapped potential, steering the course of an organization such as this is a privilege, as it will be the ideal platform to put my professional qualifications, experience, and network to the best service of the organisation, and the country.” “Asia Capital is a reputed, diversified conglomerate recognised across Asia, and I look forward to working closely with the leadership team to formulate and engage a strong, sustainable growth trajectory for Asia Capital which will pivot and position us as a reputed Sri Lankan brand,» he said.