Colombo-based Business Resource Management Services (BRMS) is serving as consultants in the restructuring of the Maldivian government-owned State Electrical Company Ltd (STELCO), through its counterpart Charterhouse Pvt Ltd. BRMS, a consultancy firm in Sri Lanka, said in a press release that it is jointly engaged with Charterhouse in an indepth study of the present organizational structure of STELCO and recommending strategies to enhance its efficiency with respect to the conversion of STELCO to a Public Limited Liability Company in compliance with the Corporate Governance Code of the Maldives published by the Capital Market Development Authority.
Managing Partner of BRMS Wasanthe K.B.Senanayake visited the Maldives in early March and met with the Chairman and Board of Directors, senior management and other officials in initiating the assignment. According to the press release, the project entails reviewing the Corporate Structure, Corporate/Business Plan, Corporate Policies and Procedures. Areas also covered under the consultancy were the defining the functions and tasks of the staff, undertaking and Employee Needs Assessment and training requirements and introducing measures to foster the development of the career path of the employees. The consultancy also included a review of the current human resource policies and procedures and recommending constructive changes to the existing systems in force.
The specialists associated with the project were L. Prabhakaran a banker with 35 years banking experience in Sri Lanka, Canada and UK, Panine Deepanayake an IT Specialist in soft ware and hardware and T. de Silva a chartered electrical engineer. The project coordination was handled by C.I .Fernando, former Director Bank Supervision Department at the Central Bank of Sri Lanka.