Mr. Alexis Indrajit Lovell, a Dubai-resident Sri Lankan who enabled Associated Electrical Corporation PLC which held the controlling interest of Associated Motorways PLC to strike a deal with Al-Futtaim Engineering, a Middle Eastern conglomerate, to buy AMW, has joined the board of Associated Electrical Corporation.

This appointment, as a non-executive independent director, is effective from December 8, according to a notification to the Colombo Stock Exchange.

Associated Electricals has also appointed Mrs. Dayangani Priyanthi Pieris as a non-executive independent director with effect from the same date.

They succeed Messrs. G.A. de Zoysa and R.P. de Alwis who have resigned from the board of the company.

Following the sale of its AMW stake, Associated Electricals had reduced its own stated capital by a share buy-back but is a highly cash rich closely-held quoted company.

Other appointments to quoted company boards communicated to the CSE include those of Mr. R. Seevaratnam to Lanka Aluminium Industries with effect from Dec. 5, Mr. Nihara Rodrigo to the boards of four Janashakthi Group companies, Kshatriya Holdings, First Capital Holdings, Kotmale Holdings and Kelsey Developments with effect from Dec. 1 and Mr. K.R. Suresh Kumar as Managing Director of Lanka IOC with effect from Dec. 6.

Rodrigo succeeds Mr. B.M.S.K. Haththotuwa who has resigned on the boards of the Janashakthi companies. He has resigned his position as alternate to Haththotuwa at Kshatriya Holdings.

Suresh Kumar takes over at LIOC from Mr. K Ramakrishnan who has resigned.