Telecom Lead Asia: Sri Lanka Telecom has appointed Lalith De Silva as its new group CEO.
As group CEO, De Silva will look after SLT Group companies excluding Mobitel.
Sri Lanka Telecom’s former CEO Greg Young’s term ended in January, 2012.
The state-government owned Sri Lanka Telecom posted Rs 5.01 billion operating profit, up 16 percent. The group revenue has increased 12 percent to Rs 42.07 billion, up 12 percent. Profit increased 26 percent to Rs 4.33 billion.
This is the second high profile appointment in the Sri Lankan mobile industry.
Recently, Hutch Sri Lanka appointed Thirukumar Nadarasa as its new CEO. He was heading the Hutch’s local operation from 2002 to 2007, prior to his assignment with Hutchison Telecom’s Vietnam operations. Nadarasa has worked for Hong Kong based Hutchison Telecom for nearly 14 years and has also worked for Singapore Telecom.
Recently, Fitch Ratings Lanka said Sri Lanka’s smaller telecom operators are expected to face higher risks in 2013.
The year 2013 outlook for incumbent Sri Lankan telecommunications companies (telcos) is stable, but that for smaller operators, it is negative.
The telecom industry as a whole will benefit from growing demand across most product segments.
However, the credit profiles of newer entrants are likely to be disproportionately affected by high Capex required to improve capacity, as well as high marketing costs.
