New Faces

June 9, 2008 (LBO) – Sri Lanka Telecom (SLT), the island’s top fixed access telco said its Malaysian shareholder had appointed new directors after NTT Communications sold out and its representative resigned from the board. NTT with its 35 percent stake was allowed by majority shareholder Sri Lanka government to appoint the chief executive.

Sri Lanka Telecom said Global Telecommunications Holdings NV, a unit of Malaysia’s Usaha Tegas group, has appointed Chan Chee Bee, Sandip Das, Jeffrey Jay Blatt and Shelley Geoffrey William to the board.

The UT group bought a 35.19 percent stake from NTT and later upped its stake to 44.9 percent following a buyout of other shareholders according to Colombo Stock Exchange rules.