September 9, 2018 (LBO) – Former Commercial Bank CEO Jegan Durairatnam has been appointed as an Independent Non-Executive Director at Colombo Stock Exchange (CSE) listed Asian Hotels (AHPL). Commercial Bank, where Durairatnam recently retired as CEO, is the largest private sector financial institution in Sri Lanka.
Durairatnam was also recently appointed as an Independent Non-Executive Director of CSE listed bank DFCC.
AHPL is a subsidiary of Sri Lanka’s leading blue chip John Keells Holdings (JKH). The company owns JKH’s large city hotel properties the Cinnamon Grand and Cinnamon Lakeside. As JKH moves toward completion of its waterfront property development, rumours are that Keells is looking to sell AHPL, or some of the company’s major assets. Business is down since the opening of new competitors, the largest being Shangri La.