Telia AB of Sweden is replacing its representative and the Managing Director in its Sri Lankan venture Suntel Limited from July 1.
After four years at the top, Hugo Cederschiold will hand over the reigns of Sri Lankas second largest fixed telephone service provider to Mrs. Lillemor Larsson, from the parent company and a Director on Suntels Board since its inception in 1996. rn
rnLarsson is expected to drive the massive growth the firm expects as it attempts to recoup the over Rs. 1 bn in accumulated losses made since its inception in 1996.
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rnEncouraged by Suntels Rs. 200 million net profit in 2002, Cederschiold expects profits the next two years to cover their losses. rn
rnHowever, Cederschiold hopes the government would hasten to resolve key stumbling blocks like interconnection terms. rn
rnSuntel is expected to make an announcement later this year, outlining its expansion into the North and East and other parts not covered by Suntel including the far South. rn
rnThe firm recently launched