• +94112486807
  • +94112447300
  • info@cdcplc.net​
  • Location
Commercial Development Company PLC
A subsidiary of Commercial Bank of Ceylon PLC

Our History

1980
Incorporation

Incorporated the Commercial Development Company Ltd. (CDC) to construct Headquarters for the Commercial Bank with a 40% equity participation of the Bank.

1983
Listing of CSE

Company was listed on the Colombo Stock Exchange

1984
"Commercial House" Building

Opening of the New Commercial Development Company Building

1984
Commercial Bank

The Headquarters of the Commercial Bank was shifted to our building ‘Commercial House’, No. 21, Bristol Street, Colombo 01.

2012
Expansion

Expanded the services provided to Commercial Bank by increasing existing employee cadre

2014
Further Expansion

Further expanded the business by recruiting more than 80 employees.

2017
Office Premises

Office premises of the Company moved to a new premises at York Arcade Building, Leyden Bastion Road, Colombo 1 from "Commercial House" building.

2019
Asia’s Most Trusted Company

Company was awarded the title of “Asia’s Most Trusted Company” in the Real Estate category in Sri Lanka by International Brand Consulting Corporation of USA, a multinational business consulting and market research firm. The selection was based on a stringent evaluation of a number of criteria which, amongst others, included workplace culture, leadership, business ethics, and governance.

2019
Information System Upgrade

Company upgraded its information systems and processes in order to optimize the resource management by installing a new IT system.

2019
First CSR project

Company marked its first CSR activity by organizing an eye and other organ donation scheme amongst its staff. Under this scheme, employees are provided an opportunity to sign up for donating their eyes and other organs to the Sri Lanka Eye Donation Society upon their death. More than 150 employees had volunteered to sign for this worthy cause.

2020
Celebrated the 40th Anniversary
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.

Quick Links

Get in touch

  • No. 8-4/2, York Arcade Building,
    Leyden Bastian Road, Colombo 01.
  • +94 11 2486807
  • +94 11 244 7300
  • info@cdcplc.net​

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

Managing 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 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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