Sri Lanka *market update* New Chair at PABC, Nimal steps down

Deputy Chairman Eshana de Silva took over as the Chairman of Pan Asia Banking Corporation (PABC), yesterday following the resignation of Nimal Perera after completing nine years on the Board as per Central Bank directions on good corporate governance. Eshana joined the Board of Pan Asia Bank in July, 2008 and was appointed as Deputy Chairman in April, 2012. He is the Chairman of Esna Holdings Ltd., Shermans Logistics Ltd, Shermans Transport Ltd, Hanjin Shipping Lanka Ltd and he is the Deputy Chairman of Esna Ltd and Director at Esna Power Ltd, Esna Exports Ltd., Sherman De Silva & Co. Ltd, Sherman Sons td, Mc Marine Ltd, Esna Allied Enterprises Ltd, Mountbatten Lands Ltd, Plumbago Lanka Ltd, Esna International Ltd, Esna Lubricants Ltd, Integrated Shipping Agencies Ltd., Interocean Energy Ltd., and is the Honorary Consul General for Kazakhstan.