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/her common Directorships
or his/her 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. T. Sumathipala |
|
Sumathi Trading Company
Sumathi Book Printing (Private) Limited
Sri Lanka Telecom Services (Private) Limited
Mobitel (Private) Limited |
|
Partner (50% holding)
Director
Director
Chairman |
| |
|
|
|
|
| Mr. R. Fernando |
|
Lanka Securities (Private)
Limited
Comble of Ceylon Limited
Central Industries Limited
Ernst & Young
Ernst & Young Investment Consultants (Private)
Limited
MSL Audits (Private) Limited
MSL Systems Limited
MSL Galle (Private) Limited
Secretarial Services Limited
Business Intelligence Limited |
|
Chairman
Alternate Director
Director
Partner
Director
Director
Director
Director
Director
Director |
| |
|
|
|
|
| Mr. N. Pathmanathan |
|
Ceylon Petroleum Corporation
Sri Lanka Export Development Board
Galadari Hotels Limited
Eastern University of Sri Lanka |
|
Director
Director
Director
Council Member |
| |
|
|
|
|
| Mr H.N. Gunewardena |
|
Aitken Spence and
Company Limited |
|
Director |
| |
|
|
|
|
| Mr. Shuhei Anan |
|
Mobitel (Private)
Limited
Sri Lanka Telecom Services (Private) Limited |
|
Director
Director |
|
| |
| SLTL had the following transactions
with the above companies during the year under review: |
| |
| Mobitel
(Private) Limited |
Payments amounting to Rs.
4.9 million (2001 - Rs. 3.5 million) have been made during the year
on call charges relating to cellular phones purchased for SLTL employees.
Further, cellular phones
amounting to Rs. 3.3 million (2001 - Rs. 1 million) were purchased
from Mobitel (Private) Limited during the year.
During the year a short term interest free loan amounting to Rs. 138
million was granted to Mobitel (Private) Limited. This loan is repayable
within 7 days of demand by the Company.
The Company has given a letter of comfort on behalf of Mobitel (Private)
Limited to obtain loan facilities.
The amount payable as interconnection charges to SLTL at 31 December
2002 amounted to Rs. 65 million. This amount is shown net of a provision
of Rs. 13 million made in respect of a disputed amount that arose
in 1997. |
| |
| 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: |
| |
|
|
|
|
|
| |
|
2002 |
|
2001 |
|
|
|
| |
|
|
|
|
| Remuneration
for experts seconded to SLTL |
|
102 |
|
123 |
| Expenditure
for experts seconded to SLTL |
|
51 |
|
55 |
| Management
fees to NTT |
|
240 |
|
379 |
|
|
|
|
|
| |
|
393 |
|
557 |
|
|
|
|
|
| |
However,
the management agreement between NTT Communications Corporation and
the Company
came to an end on 4 August 2002. |
| |
| Ernst
& Young |
During
the year payments amounting to Rs. 12.5 million have been made to
Ernst & Young in respect of a due diligence study and valuation
and for providing assistance in the acquisition of Mobitel (Private)
Limited.
SLTL did not have any other transactions with the above companies
during the year. |
| |
|
|
|
|
