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Commercial Development Company PLC
A subsidiary of Commercial Bank of Ceylon PLC

Investor Relations

Annual Reports

Stock Information

Colombo Stock Exchange

Company has been listed on the CSE since March 1983.
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Company Announcements

Date of AGM

30 Mar 2026

Time

9:30 am

Venue

Auditorium of Commercial Bank of Ceylon PLC, 9th Floor, Commercial Bank Union Place Branch Building, No. 01, Union Place, Colombo 02.

Description

Forty-Sixth Annual General Meeting (AGM)

Circular to the Shareholders

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06/03/2026

Description
Appointment of a Director – Mr M D C P Dharmasena

Director List

NAME OF THE DIRECTORNATURE OF THE DIRECTORSHIPEFFECTIVE DATENUMBER OF SHARES HELD BY THE DIRECTORPROFILE
Mr M D C P DharmasenaNon Executive Director01 Jan 2026As attached.As attached.

Description
Resignation of Director – Mr U I S Tillakawardana

Resigned Directors List

NAME OF THE DIRECTORNATURE OF THE DIRECTORSHIPEFFECTIVE DATE (DD/MM/YYYY)NUMBER OF SHARES HELD BY THE DIRECTOR
Mr U I S TillakawardanaNon Executive Director31 Dec 20250


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Current Address
No 8-4/2, York Arcade Building,
Leyden Bastian Road,
Colombo 01

New Address
6th Floor, Paul V Centre,
No 24, Malwatta Road (Front Street),
Pettah, Colombo 11

Effective Date
24 December 2025

Description
Change of Company Address


Download Notice (PDF)

Date of AGM

27 Mar 2025

Time

11:00 am

Venue

Auditorium of Commercial Bank of Ceylon PLC, 9th Floor, Commercial Bank Union Place Branch Building, No. 01, Union Place, Colombo 02.

Description

Annual General Meeting

Circular to the Shareholders

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04/03/2025

Change in the nature of Directorship

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Name of the newly appointed CEO           : Mr. Kirthi Basnayake

Effective date                                                 : 01 Oct 2024

Profile                                                              : Attached

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Retirement of Mr. Ruwan Nimal De Silva

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Formation of the Related Party Transactions Review Committee

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Re-designation of a Director as Senior Independent Director

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Appointment of Independent Non- Executive Directors

Name of the directorNature of the directorshipEffective date (DD/MM/YYYY)Number of shares held by the director
Mr. Lalith WithanaIndependent Non-Executive28 Mar 20240
Mr. Nandana AbeysuriyaIndependent Non-Executive28 Mar 20240

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Name of the newly appointed chairperson

Mr. Amitha Lal Gooneratne

Effective date

28 Mar 2024

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Retirement of Chairman

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Retirement of a Director

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FORTY FOURTH ANNUAL GENERAL MEETING AND SUBMISSION OF ANNUAL REPORT 2023

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04/03/2024

FORTY THIRD ANNUAL GENERAL MEETING AND SUBMISSION OF ANNUAL REPORT 2022

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09/03/2023

Appointment of a Director – Dr. R. A. Attalage
Name of the directorNature of the directorshipEffective date (DD/MM/YYYY)Number of shares held by the directorProfile
Dr. R. A. AttalageIndependent and Non-Executive01 Jan 20230download, button, internet-155424.jpg
 
Retirement of the Managing Director

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Appointment of Mr. S.C.U. Manatunge as the Managing Director of the company.
Name of the director                               : Mr. S.C.U. Manatunge
Nature of the directorship                      : Executive Director
Effective date (DD/MM/YYYY)              : 12/05/2022
Number of shares held by the director : 0

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FORTY SECOND ANNUAL GENERAL MEETING AND SUBMISSION OF ANNUAL REPORT 2021

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08/03/2022

Policies & Procedures

Our Commitment to Good Governance

Interim Financials

Interim Financials for 2025

PeriodDocuments
Interim Financial Statement as of 31.12.2025Download
Interim Financial Statement as of 30.09.2025Download
Interim Financial Statement as of 30.06.2025Download
Interim Financial Statement as of 31.03.2025Download

Interim Financials for 2024

PeriodDocuments
Interim Financial Statement as of 31.12.2024Download
Interim Financial Statement as of 30.09.2024Download
Interim Financial Statement as of 30.06.2024Download
Interim Financial Statement as of 31.03.2024Download

Interim Financials for 2023

PeriodDocuments
Interim Financial Statement as of 31.12.2023Download
Interim Financial Statement as of 30.09.2023Download
Interim Financial Statement as of 30.06.2023Download
Interim Financial Statement as of 31.03.2023Download

Interim Financials for 2022

PeriodDocuments
Interim Financial Statement as of 31.12.2022Download
Interim Financial Statement as of 30.09.2022Download
Interim Financial Statement as of 30.06.2022Download
Interim Financial Statement as of 31.03.2022Download

Interim Financials for 2021

PeriodDocuments
Interim Financial Statement as of 31.12.2021Download
Interim Financial Statement as of 30.09.2021Download
Interim Financial Statement as of 30.06.2021Download
Interim Financial Statement as of 31.03.2021Download

Interim Financials for 2020

PeriodDocuments
Interim Financial Statement as of 31.12.2020Download
Interim Financial Statement as of 30.09.2020Download
Interim Financial Statement as of 30.06.2020Download
Interim Financial Statement as of 31.03.2020Download
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.

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Get in touch

  • 6th Floor, Paul VI Centre, No.24, Front Street, Colombo 11
  • +94 11 2486807
  • +94 11 244 7300
  • info@cdcplc.net​

Mr. Chinthaka Dharmasena

Director

Mr. Chinthaka Dharmasena is a corporate management professional with over three decades of extensive expertise in service operations, supply chain management, and sustainability initiatives across both multinational corporations and leading Sri Lankan enterprises. Mr. Dharmasena was appointed to the Board as a Non-Executive Director, effective January 1, 2026.

Mr. Dharmasena has been serving as Assistant General Manager – Services at Commercial Bank of Ceylon PLC since 2013, as a member of the Bank’s Corporate Management Team with accountability for centralized service operations encompassing Procurement, Security, Premises/Facilities, and Logistics. Under his leadership, Commercial Bank became the first bank in Sri Lanka to achieve carbon-neutral status across its entire operations scope. He was also instrumental in the Bank winning the overall Best Corporate Citizen Award in 2021 and securing the runner-up position in 2024.

Prior to his current role, Mr. Dharmasena spent 17 years with Ceylon Tobacco Company (British American Tobacco), where he held senior positions including Head of Operations and Head of Supply Chain Management. He served on the British American Tobacco International Audit Team and led critical projects across BAT operations in the USA, Malaysia, and South Africa.

Mr. Dharmasena holds an MBA from the Postgraduate Institute of Management (PIM) and a BSc (Eng) Hons from the University of Moratuwa. His professional qualifications include ISO 9000 Lead Auditor certification, International Certification in Purchasing and Supply Management, and Supply Chain Excellence qualification from Cranfield University, UK.

He has also contributed to academia as a Visiting Lecturer at the Department of Transport and Logistics Management, University of Moratuwa, and formerly at CINEC Campus.

Mr. Prasanna Indrajith

Company Secretary

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

Director

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

Director

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. Lalith Withana

Director

Mr. Withana was appointed to the Board as a Director in March 2024 and serves as a Non -Executive Independent Director. He is a member of the Board Audit Committee, the Board Nominations and Governance Committee, and the Board Remuneration Committee.
 
Lalith Withana has held senior management positions in the corporate sector for over 30 years, in which more than 20 years were at senior management levels in Banking, Manufacturing and Trade. He has worked with Brandix, Ernst & Young, Amro Bank, IBM World Trade Corporation, Carson Cumberbatch and Yamaha Corporation, USA. He served as a CEO/VP at Brandix for nearly 19 years, CEO of Orit Apparels Ltd, COO of Dilmah Tea/MJF group and last as the CEO of Sri Lankan Catering Ltd.
 
Previously he had served on the boards of Bank of Ceylon, Dankotuwa Porcelain, Merchant Bank of Sri Lanka, Ceylease Limited and Seylan Bank. He has also been a Commissioner of the Telecommunication Regulatory Commission.
 
Currently he is the Managing Director of Agility Consulting Services (Pvt) Ltd. and Serves in the Bords of Softlogic Insurance PLC and HNB Finance PLC.
 
Lalith Withana holds a MBA Degree from the University of Sri Jayewardenepura, Colombo and a BA Hons. Degree from the University of Manchester Metropolitan, UK. He is a fellow member of both CIMA, UK, and CA Sri Lanka. He is also a Project Management Professional of PMI USA.

Mr. Nandana Abeysuriya

Director

Mr. Abeysuriya was appointed to the Board as Director in March 2024 and serves as a Non -Executive Independent Director. He is a member of the Board Audit Committee, the Board Nominations and Governance Committee, and the Board Remuneration Committee.
 
Mr. Abeysuriya graduated with a BSc in Engineering with second-class honours, specialising in Civil Engineering, from the Faculty of Engineering at the University of Peradeniya in 1987. He started his career as an Instructor at the faculty of Engineering and then joined the Central Engineering Consultancy Bureau and worked at Samanalawewa Hydro Electric project for four years. After working in both government and private sector for more than a decade, Mr. Abeysuriya established NCD Consultants (Pvt) Ltd as a start-up Structural Engineering Consultancy practice in 1997. NCD is providing structural Engineering consultancy services for large-scale projects including high-rise buildings and buildings with deep basements. NCD has extended their services for overseas projects, especially in India, Oman and Maldives.
 
Mr. Abeysuriya obtained his Master of Engineering degree at the University of Moratuwa, specialising in Structural Engineering Design which he completed in 2005. He obtained his Chartered Engineer status from the Institution of Engineers’ Sri Lanka (IESL) in 1991 and is a Certified Structural Engineer authorised to design buildings of more than 20 Storeys (High-rise). Mr. Abeysuriya was inducted as a Fellow of the Institute of Engineers’ Sri Lanka in 2010 followed by the International Professional Engineer (IntPE) status in the same year. He is a Fellow member of the Society of Structural Engineers-Sri Lanka (2015). He is a Chartered member of the Engineering New Zealand (2023).
 
Moreover, Mr. Abeysuriya currently participates as an exam panel member for High Rise building category registration at IESL. Also he contributes to the Construction Industry Development Authority (CIDA) as a Credential Committee member.
 
Mr. Abeysuriya is representing the Industry at Department -Industry consultative boards for a few universities. Moreover, He serves as an external member of the Faculty Board of the Faculty of Engineering, University of Moratuwa. Further, Mr. Abeysuriya is a past President of the Society of Structural Engineers’ Sri Lanka (SSESL) (2019 to 2021) and the First President of Peradeniya Engineering Faculty Alumni Association (PEFAA) – Colombo Chapter. He currently serves as the Vice President of the Association of Consulting Engineers -Sri Lanka.

Mr. A.L. Gooneratne

Director

Mr. Gooneratne was appointed to the Board as a Director in September 1993 and appointed as the Chairman of the Company on 28th March 2024.

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

Director

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. Manatunge has been re-designated as a Non-Executive Non-Independent Director of the Company with effective from 18th December 2024, in conformity with the requirements of the amended Banking Act Directions on Corporate Governance of Licensed Banks issued by the Central Bank of Sri Lanka, effective from 01st January 2025.
 
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

Chairman

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).

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