Bhaila new Chairman at Lanka Cement

Former Deputy Minister and MP Hussein Bhaila has been appointed as the new Chairman and Executive Director of Lanka Cement Plc.

This is following the resignation of K.G. Leelananda who held the post previously. Bhaila served as a Member of Parliament from 2004 to 2010. He was the Deputy Minister of Advanced Technology and National Enterprise Development (2004-5), Deputy Minister of Plantation Implementation (2005-7), and Deputy Minister of External Affairs (2007-10). 

Between February and October 2015, he was the Chairman Sri Lanka State Trading General Corporation.

Among previous positions held include Central Freight Bureau Chairman and Member of the REPPIA Board.

As at 30 June 2014, accumulated losses of Lanka Cement was Rs. 2.3 billion.

Major shareholders of the public listed Lanka Cement include Sri Lanka Cement Corporation 62%, Treasury 13%, People’s Bank 6%, Bank of Ceylon 5.5% and CPC 3%.