Thilanga steps down as Asia Capital Chairman

Thilanga Sumpathipala

Thilanga Sumpathipala has resigned as the Chairman of Asia Capital PLC with effect from 18 March.

He was appointed to the post in October 2021. He didn’t hold any shares in Asia Capital, control of which is held by Malaysian tycoon Vijayeswaran S. Vijayaratnam. Sumathipala’s resignation came ahead of parate action by Seylan Bank this week on Rs. 1.6 billion outstanding dues from Asia Capital Group companies Beach Resorts Kosgoda Ltd., Wadduwa Resorts Ltd., and associate company Galle Beach C C Trust Ltd.