New Board of Directors for TFC

by Sapumali GALAGODA

The Finance Company PLC (TFC) recently concluded its public share issue and raised Rs. 1.6 billion in fresh capital. The non-voting share issue of the company for its customers and the conversion of the private placement amounted to Rs 2 billion.

The company has received over Rs. 400 million as new deposits in January.

The share issue was subscribed by prominent institutional investors and high net worth individuals. Bank of Ceylon, the People's Bank and the Seylan Bank have become key shareholders.

"Encouraged by the confidence the public has placed in the organisation through the share issue and the stability achieved through new stakeholders and the appointment of the new board of directors, the company is now embarking on a journey towards achieving leadership in the non financial services sector in Sri Lanka while strengthening the real estate, hire purchasing and pawning businesses of the company" said the new Chairman Preethi Jayawardena.

Jayawardena, a charted accountant by profession currently serves as the Managing Director/CEO of Chemanex PLC and Non-Executive Director of CIC PLC. He has more than 30 years experience locally and overseas in many senior positions specialising in finance and treasury operations. He is also a member of the Monetary Policy Consultive Committee of the Central Bank of Sri Lanka.

Director Ajith L. Devasurendra has over 30 years experience in Sri Lanka and overseas in the Financial sector. He is currently the Deputy Chairman of Brown & Company PLC, Managing Director/CEO of Taprobane Holdings Ltd and Director of Taprobane Fund Management Ltd. He is also the Chairman of Gal Oya Plantations (Pvt) Ltd.

Director Anura Fernando is a businessman with around 30 years experience. He is the Managing Director of East Tech Consultants (Pvt) Ltd.

Director R. Nadarajah counts over 40 years of banking experience in state and private sector banks. He is a Director of Seylan Bank PLC and Chairman of its subsidiary, Seylan Developments PLC.

Director Dr. T. Senthilverl holds a number of Directorships including Amana Takaful Insurance PLC, MBSL Savings Bank Ltd and Citizens Development Business Finance PLC.

He has four decades of active engagement in the manufacturing, trading, land development, health, power and energy sectors and in industrial turnkey projects.

Director/CEO Kamal Yatawara has over 35 years of experience in the field of marketing and financial services having commenced his career working for Walker & Sons and Unilever. He is also a Director of City Housing and Real Estate and Trillium Residencies.

Director Violet Dissanayake has over 33 years experience with The Finance Company and has been handling the fixed and savings deposit departments of the company.

Director Tissa Ekanayake an Attorney-at-Law and Notary Public has 24 years experience in active management and legal affairs of The Finance Company.

Director Nayana Rupasinghe has over 30 years experience in operations management with the company. She has been involved in Branch Operations and also in the Housing and Real Estate sectors of the company for a considerable time.