Orient Finance appoints Anil Tittawela as Chairman

Orient Finance PLC, one of Sri Lanka’s oldest finance companies that recently celebrated 38 years of operations, is confident of entering a new phase of growth as it welcomes its new Chairman.

The appointment of Anil Tittawella as the Chairman of Orient Finance comes at a significant time when the Company is consolidating its position in the industry. 

Anil Tittawela

Tittawella succeeds Dr. D.C. Jayasuriya PC, the outgoing Chairman of Orient Finance who reaches the mandatory retirement age of 70 years in July.

During the tenure of Dr. Jayasuriya Orient Finance made great strides in the non-bank financial sector and implemented vast improvements to the Company’s operations. The merger between Bartleet Finance and Orient Finance was completed successfully under his leadership. The introduction of Fixed Deposits and Gold Loans to the product portfolio of the Company was also undertaken during the period.

Anil Tittawella is a renowned lawyer in Sri Lanka. He was admitted as an Attorney at Law in 1988. He holds a Masters’ in Law (Hons) from the University of Waikato, New Zealand and has extensive experience in litigation and alternate dispute resolution focusing on civil and commercial law with a diverse clientele from Sri Lanka, Pakistan, South Korea, Hong Kong, Sweden, UAE, Thailand, Singapore, England, USA, India, Mauritius, New Zealand and Switzerland. He is a director of several other companies including public quoted companies. He was appointed as a Presidents Counsel in 1985. He has also involved himself in the company law reforms in conjunction with the Ceylon Chamber of Commerce and the Bar Association of Sri Lanka that resulted in the 2007 Companies Act. He was also a member of the Sri Lanka Swedish joint legal team to formulate the new Arbitration Act of Sri Lanka, Tittawella has also served as the Legal Consultant to the Airport and Civil Aviation Authority. 

“We are pleased to welcome Tittawella as our Chairman,” says Orient Finance Director/Chief Executive Officer K.M.M. Jabir. “Having served on our Board as an Independent Non-Executive Director, he is no stranger to the Company and he is aptly equipped to give leadership in managing the challenging road ahead. At the same time, we are grateful to Dr. Jayasuriya for his visionary leadership that enabled the Company to reach great heights.”

Orient Finance is an ICRA rated Sri Lankan finance company with a strong network of operations across the island via 31 branches and convenience centres located in all major cities. The Company recently concluded a successful Rights Issue, raising capital to a total of Rs. 506 million; the inflow empowered the growth of the product portfolio, consolidating its position within the regulatory framework governing financial markets in Sri Lanka. 

With a clear focus on exceptional customer service, delivered via a strong portfolio of products that cover leasing, loans, fixed deposits, savings, factoring and gold loans, Orient Finance is confident of being able to meet their customers’ financial needs with an efficient service.

Commenting on his appointment, Tittawella PC says that the Company is confident about being able to rise above the challenges of the current economic climate. “As a company that has always been customer centric, we believe that we are able to meet the expectations of our customers, while extending our support and commitment to their well-being and success,” he reiterates.

Orient Finance is listed on the Colombo Stock Exchange – the Board consists of Anil Tittawella PC, Chairman (Non-Executive Independent Director), Prakash A. Schaffter, Non-Executive Director, Ramesh Schaffter, Non-Executive Director, Minette D.A. Perera, Non-Executive Director, Indrani Goonesekera, Non-Executive Independent Director and N. Sriyan S. Cooray, Non-Executive Independent Director, Darshana Ratnayake, Independent Non-Executive Director and K.M.M. Jabir Director/Chief Executive Officer.