Financial Times

Nawaz - new chairman at Hotel Developers
Nawaz Rajabdeen, President of the Federation of Chambers of Commerce and Industry (FCCISL), was last week appointed chairman of Hotel Developers Ltd, which has a majority stake in the Hilton Hotel.

The government has a 64 percent stake in the company and there have been recent moves to offer this stake in the stockmarket on an all-or-nothing bid with some Saudi interests, John Keells and business tycoon Harry Jayawardene showing interest in the property.

Rajabdeen, one of Sri Lanka’s best known entrepreneurs and the driving force behind demands for state support to develop small and medium-scale industries, declined to comment on future plans.

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