A public limited liability company incorporated in Sri Lanka on March 14, 1980, under the Companies Ordinance No. 51 of 1938 and quoted in the Colombo Stock Exchange in March 1983. The Company was re-registered under the Companies Act No. 07 of 2007, on January 17, 2008.
Company Registration No.
Stock Exchange Listing
The Ordinary Shares of the Company are listed on the Colombo Stock Exchange.
No. 8-4/2, York Arcade Building, Leyden Bastian Road, Colombo 01, Sri Lanka.
Phone/Facsimile: +94 11 244 7300
Tax Payer Identification No. (TIN)
Messrs Julius & Creasy, 41, Janadhipathi Mawatha, Colombo 01, Sri Lanka.
KPMG, Chartered Accountants, 32A, Sir Mohamed Macan Markar Mawatha, Colombo 03, Sri Lanka.
S S P Corporate Services (Pvt) Ltd., No. 101, Inner Flower Road, Colombo 03, Sri Lanka. Phone: +94 11 257 3894, +94 11 257 6871 Facsimile: +94 11 257 3609 Email: email@example.com
Board of Directors
Mr B R L Fernando – Chairman Mr S C U Manatunge – Managing Director Mr A L Gooneratne Mr A T P Edirisinghe Mr L D A Jayasinghe Mr U I S Tillakawardana Dr. R A Attalage
Mr L W P Indrajith
Board Audit Committee
Mr B R L Fernando – Chairman Mr A L Gooneratne Mr A T P Edirisinghe Mr L D A Jayasinghe Mr S C U Manatunge (By invitation)
Board Remuneration Committee
Mr B R L Fernando – Chairman Mr A T P Edirisinghe Mr L D A Jayasinghe Mr S C U Manatunge (By invitation)
Commercial Bank of Ceylon PLC
Commercial Development Company PLC is a subsidiary of Commercial Bank of Ceylon PLC. Principal business activities of the Company include renting of premises, outsourcing of staff, hiring of vehicles and provision of other utility services to the Parent Company, Commercial Bank of Ceylon PLC.
No. 8-4/2, York Arcade Building, Leyden Bastian Road, Colombo 01.
+94 11 2486807
+94 11 244 7300
Mr. Prasanna Indrajith
Mr. Prasanna Indrajith serves as the Assistant General Manager – Finance of Commercial Bank of Ceylon PLC and counts a total of 26 years of post-qualified experience in finance-related fields including 24 years in banking.
He is a Fellow member of the CA Sri Lanka, ACCA, and CMA Sri Lanka. He holds a Degree in Business Administration (Special) from the University of Sri Jayewardenepura.
He serves as a Director of Commercial Insurance Brokers (Pvt) Ltd.
Dr. R. A. Attalage
Dr. Attalage was appointed to the Board as a Director on the 01st of January 2023 and serves as a Non-Executive Independent Director.
He is currently a Professor in Mechanical Engineering at the Sri Lanka Institute of Information Technology. He is also an Emeritus Professor at the University of Moratuwa, Sri Lanka. He was the former Deputy Vice Chancellor of the University of Moratuwa, and was a Senior Professor attached to the Department of Mechanical Engineering, University of Moratuwa. He obtained his B.Sc. Engineering (Hons) Degree from the University of Moratuwa specializing in Mechanical Engineering, M.Eng in Energy Technology from Asian Institute of Technology, Thailand, D.E.A. and PhD from Ecole Nationale Superieure des Mines, Paris in Energy Engineering.
He is a Chartered Engineer of the Institution of Engineers Sri Lanka, a Member American Society of Heating, Refrigeration and Air-conditioning Engineers (ASH RAE), a Corporate Member and Past President of Sri Lanka Energy Managers Association, Fellow & President of the Lanka Association of Building Services Engineers (LABSE), Member of the Sri Lanka Association for Advancement of Science (SLAAS), Fellow and a Council Member of the National Academy of Sciences, Sri Lanka.
He was bestowed by the honorary distinction for an academic “Order of the Academic Palms”, by the Government of France, in 2018.
He has also served as a Commissioner member of the Public Utilities Commission of Sri Lanka, the Chairman National Institute of Fisheries & Nautical Engineering and has served as a visiting faculty member of AIT, Thailand and as a Visiting Professor at Toyohashi University of Technology in Japan and has served in many national committees notably related to Building Energy Efficiency standards & Labels development. He has worked as a consultant to several World Bank, ADB and Nexant Inc. on Energy-related assignments.
Mr. U.I.S. Tillakawardena
Mr. Tillakawardena was appointed to the Board as a Director in December 2011 and serves as a Non-Executive Non-Independent Director.
Mr. Tillakawardena is a Fellow Member of the Association of HR Professionals Sri Lanka, Graduate Member – Sri Lanka Institute of Directors. Further, he holds an MBA from the University of Sri Jayawardenapura and a Degree in Law (LL.B) from the University of Colombo, MA. He was recognized as one of the “50 Most Talented Global HR Leaders in Asia” by the World HRD Congress at its sessions in Mumbai.
Mr. Tillakawardana is presently heading the Human Resource Management functions at Commercial Bank of Ceylon PLC as the Deputy General Manager – Human Resource Management. He is also a Director of Commercial Insurance Brokers (Pvt) Ltd, and a Non-Executive Director – Commercial Bank of Maldives (Pvt) Ltd.
Prior to joining the Commercial Bank, Mr. Tillakawardana had held leadership positions in several organizations as Group Director – HR at Hemas PLC, Chief Operating Officer at Sri Lanka Insurance Corporation, General Manager – HR at Union Assurance PLC and Assistant General Manager, Colombo Stock Exchange. He was the past President of the Association of HR Professionals.
Mr. L.D.A. Jayasinghe
Mr. Jayasinghe was appointed to the Board as a Non-Executive Independent Director in December 2009. He is a member of the Board Audit Committee and the Board Remuneration Committee.
Mr. Jayasinghe is a Fellow of The Institute of Chartered Accountants of Sri Lanka, a Fellow of The Institute of Certified Management Accountants of Sri Lanka and counts over 32 years of experience in public practice and 13 years in the private sector.
Mr. Jayasinghe is a Senior Partner of Jayasinghe & Company, an established firm of Chartered Accountants., a Council Member – the Institute of Chartered Accountants of Sri Lanka and serves as Director on the Boards of a number of private limited companies.
He was the past President of the Association of Accounting Technicians of Sri Lanka.
Mr. A.T.P. Edirisinghe
Mr. Edirisinghe was appointed to the Board as Director in April 2008 and serves as a Non-Executive Independent Director. He is a member of the Board Audit Committee and the Board Remuneration Committee.
Mr. Edirisinghe is a Fellow of The Institute of Chartered Accountants of Sri Lanka, Fellow of the Chartered Institute of Management Accountants – UK and a Diploma holder in Commercial Arbitration; he counts over 48 years of experience in both public practice and private sector.
Mr. Edirisinghe is a Consultant/Advisor – BAKER TILLY Edirisinghe & Company, Chartered Accountants. He is the Managing Director of PE Management Consultants (Pvt) Ltd. Further, he serves on the Boards of several other quoted companies as Chairman/Member of the Audit Committee, Chairman/Member of the Remuneration Committee and Chairman/Member of the Related Party Transactions Review Committee.
He was a Senior Partner of H L B Edirisinghe & Company – Chartered Accountants., and Deputy Group Finance Director while holding over 10 Directorates in the John Keells Group of Companies.
Mr. A.L. Gooneratne
Mr. Gooneratne was appointed to the Board as a Director in September 1993 and serves as a Non-Executive Independent Director. He is a member of the Board Audit Committee.
Mr. Gooneratne is a Fellow Member of the Institute of Chartered Accountants in England and Wales, Fellow Member of The Institute of Chartered Accountants of Sri Lanka and holds a Higher National Diploma in Business Studies, United Kingdom.
Mr. Gooneratne currently serves as the Managing Director of the following companies – Melstacorp PLC, Chairman – Subsidiaries of Melstacorp PLC namely – Melsta Logistics (Pvt) Ltd., Bellvantage (Pvt) Ltd., Director – Subsidiaries of Melstacorp PLC, namely – Periceyl (Pvt) Ltd., Balangoda Plantation PLC, Lanka Bell Ltd., Telecom Frontier (Pvt) Ltd., Bell Solutions (Pvt) Ltd., Texpro Industries Ltd./Timpex (Pvt) Ltd., Bogo Power Ltd., Melsta Tower (Pvt) Ltd., Melsta Health (Pvt) Ltd., Melsta Pharmaceuticals (Pvt) Ltd., Browns Beach Hotels PLC, Continental Insurance Lanka Ltd., Hospital Management Melsta (Pvt) Ltd., Melsta Laboratories (Pvt) Ltd. and Melsta Healthcare Colombo (Pvt) Ltd., Alternate Director – Distilleries Company of Sri Lanka PLC and Aitken Spence PLC., Independent Director – Textured Jersey PLC and Lanka IOC PLC.
He was the Managing Director of Commercial Bank of Ceylon PLC (from 1996-2012) and Commercial Development Company PLC. He was also the Founder Chairman of Financial Ombudsman Sri Lanka (Guarantee) Ltd, Chairman – Sri Lanka Banks’ Association (Guarantee) Ltd. and Commercial Insurance Brokers (Pvt) Ltd and Director – SriLankan Airlines Ltd (from 2002-2004).
Mr. Sanath Manatunge
Mr Sanath Manatunge is a senior banker who has served Commercial Bank throughout his working career, holding a number of senior positions. Mr. Manatunge was appointed as the Managing Director of Commercial Development Company PLC on 12th May 2022.
Mr Sanath Manatunge is a Fellow of the Chartered Institute of Management Accountants – UK (FCMA – UK) and has obtained a Master of Business Administration (MBA) Degree from the University of Sri Jayewardenepura with a Merit Pass. He is also a Fellow Member of the Institute of Bankers – Sri Lanka (FIB), a Fellow of the Institute of Certified Management Accountants of Sri Lanka (FCMA) and a Fellow of the Chartered Management Institute, UK (FCMI). Mr Manatunge is also a member of Sri Lanka Institute of Directors since August 2017.
Mr. Manatunge currently serves as the Managing Director / Chief Executive Officer of Commercial Bank of Ceylon PLC since May 2022 and also had been functioning as a Director of Commercial Bank of Maldives (Pvt) Ltd., a subsidiary of Commercial Bank of Ceylon PLC since 2016.
He was adjudged the “Chief Information Security Officer of the Year” at the EC – Council Global CISO Forum held in Atlanta – USA in September 2013 in recognition of his outstanding contribution in strengthening and promoting information security practices and IT Risk Management.
Mr. B.R.L. Fernando
Mr. Fernando was appointed as a Director in February 2007 and was made the Chairman of the Board in December 2009. He was a Director since February 23, 2007. Mr. Fernando is the Chairman of the Board Audit Committee and the Board Remuneration Committee and a Non-Executive Independent Director of Commercial Development Company PLC.
He is a fellow of The Institute of Chartered Accountants of Sri Lanka with considerable exposure to the banking, manufacturing, agricultural and trading sectors in Sri Lanka.
Mr. Fernando currently serves as a Non-Executive Director to the Board of the following Companies – First Guardian Equities (Pvt) Ltd., Ceylon Tea Brokers PLC, St. Nicholas’ Education Services Ltd., Tropibar (Pvt) Ltd. and Lanka Hydraulic Institute (Pvt) Ltd. In addition to the above, Mr. Fernando has been appointed as a Director for Tropical Abundance (Pvt) Ltd. and as the Chairman of Noorani Estates (Pvt) Ltd. Further, he is a member of the Working Committee on the Science & Technology Policy Research of the National Science Foundation.
Mr. Fernando had served as a Director and Deputy Chairman of Commercial Bank of Ceylon PLC, Non-Executive Chairman – CIC Holdings PLC and Chemanex PLC, Non-Executive Chairman – Akzo Nobel Paints Lanka (Pvt) Ltd., Executive Chairman of CIC Holdings PLC and its subsidiaries. Further, he had served on the Board of Directors of the Insurance Corporation of Ceylon, the State Mortgage and Investment Bank, Employees’ Trust Fund and as a Member of the Telecom Regulatory Commission and the 2010 Taxation Commission, President and a Trustee of the Japan-Sri Lanka Technical & Cultural Association (JASTECA).