27. Directors’ Interests in Contracts
A Director is considered to have a
direct interest in a contract with the Company, if the
Director
him/herself is involved in a contract with the Company.
A Director has an indirect interest in a contract with
the Company, if the Director, through his common Directorships
or his dependant family members is involved in a contract
with the Company.
The Directors of Sri Lanka Telecom
Limited held Directorship in the following companies:
| |
| Director |
Company |
Position |
| |
| Mr J
L C De Mel |
Reckitt
Benckiser Lanka Limited |
Director |
| |
John
Keells Holdings Limited |
Director |
| |
Delmege
Forsyth Limited |
Director |
| |
Mobitel
(Private) Limited |
Director |
| |
People’s
Bank |
Director |
| |
CDC
Capital Partners Plc (UK) |
Director |
| |
Sri
Lanka Telecom (Services) Limited |
Director |
| |
Demchi
(Private) Limited |
Director |
| |
Board
of Investment |
Chairman |
| |
(period
between April to December) |
|
| |
|
|
| Mr H
N Gunewardena |
Aitken
Spence & Company Limited |
Director |
| |
|
|
| Mr Shuhei
Anan |
Mobitel
(Private) Limited |
Director |
| |
|
|
| Mr R
N Wijeratne |
Rodev
Lanka (Private) Limited |
Director |
| |
Imperial
Institute of Higher Education (Private) Limited |
Director |
| |
|
|
| Mr S
Hashimoto |
Mobitel
(Private) Limited (resigned in July) |
|
| |
Sri
Lanka Telecom (Services) Limited (Resigned in July) |
Director |
| |
|
|
| Mr N
Asami |
Mobitel
(Private) Limited (resigned in October) |
Director |
| |
Sri
Lanka Telecom (Services) Limited (resigned in October) |
Director |
SLTL had the following transactions
with the above companies during the year under review:
Mobitel (Private)
Limited
Payments amounting to Rs. 3.5 million (2000 - Rs. 4
million) have been made during the year on call charges
relating to celluar phones purchased for SLTL employees.
Further, cellular phones amounting to Rs. 1 million
(2000 - Rs. 1.2 million) was purchased from Mobitel
(Private) Limited during the year.
NTT Communications
Corporation
As per the shareholders’ agreement with NTT, which
owns 35% of the issued share capital of SLTL, the following
charges have been borne by the Company:
| |
Company |
| |
2001
|
2000
|
| Remuneration
for experts seconded to SLTL |
123 |
140 |
| Expenditure
for experts seconded to SLTL |
55 |
77 |
| Management
fees to NTT |
379 |
291 |
| |
557
|
508
|
Sri Lanka Insurance
Corporation Limited
Insurance premium amounting to Rs. 11.18 million (2000
- Rs. 11.78 million) have been paid on account of insuring
cash in transit and motor vehicles during the year.
SLTL did not have any other transactions
with the above companies during the year.
|
