Veteran Maldivian hotelier appointed chair ofmahaweli Reach Hotel

Veteran Maldivian hotelier Mohamed Umar Maniku has been appointed chairman of Mahaweli Reach Hotel Ltd, the company announced this week.

He takes over from the late Mrs L. R. Panabokke, also founder director, whose husband Atul founded the Kandy hotel. He was appointed with effect from 31st May.

Managing Director of the hotel is Jayantha Panabokke. Mr Maniku is chairman of Universal Enterprises Pvt. Ltd which owns and operates eight tourist resorts in the Maldives and La- briz Tourist Resort, Seychelles. He is a director of Royal Palms Beach Hotels PLC.

Members of his family - A. U. Maniku, Ahamed Mahir Didi and Dr. Ibrahim U. Maniku from the Universal Group, are also non executive directors the company.

Other well-known local personalities on the board are Abbas Esufally, Charitha Ratwatte and Rienzie Wijetilleke Haycarb gets 50 % stake in Thai factory

Haycarb PLC, part of the giant Hayleys Group, has expanded its manufacturing facilities in Thailand with a 50 per cent stake in a new facility.

The company said that this was after Bangkok based Carbokarn Co Ltd acquired the total issued capital of Shizuku Co Ltd which owns an activated carbon manufacturing facility in that country. Haycarb has a 50 per cent stake in Carbikarn and by virtue if tis has a similar stake in Shizuku.

The new development increases Haycarb’s ‘ installed manufacturing capacity’ by nearly 10 percent, according to a company statement. Haycarb has manufacturing facilities in Sri Lanka, Thailand and Indonesia and marketing offices in the UK, Australia and the US. Blue Diamonds’ CEO resigns

Ruwan Silva, CEO of Blue Diamonds Worldwide has tendered his resignation with effect from September 27, the company announced.

Mr Silva is a major shareholder at British American Technologies ( BAT) which has 11% in Blue Diamonds. The loss- making company ( under the then Ceylinco umbrella) underwent a major in ownership last year with new investors taking over. No reasons were given for Mr Silva’s resignation. Ascot director

Thiyumi Abeysinghe has been appointed a non executive independent director at Ascot Holdings with effect from 20th September.

She has a bachelor’s degree in economics and has worked in several private sector firms in different capacities. Colonial Motors Depty. Chairman

S. D. R. Arudpragasam has been appointed deputy chairman of Colonial Motors from 14th September.

He is already a director and is part of the Lankem/E.B. Creasy directorate. New NTB CEO

Saliya Rajakaruna, CEO/ Director at the Nations Trust Bank quit on 15th September at the end of his contract term.

He has been replaced by Renuka Fernando.