SLT-Mobitel will not be privatised, says Group Chairman
While the previous government had finalised a decision to privatise SLT-Mobitel as the entity was making hefty losses, the first six months of year 2025 has shown a dramatic financial turnaround to profits. Reduction of operational, maintenance and license costs together with prudent investments and not leaving invested assets idle, paved the way towards this achievement. SLT-Mobitel will not be privatised whatsoever, but the company will look out for partnerships, says Dr. Mothilal De Silva, Chairman, SLT Group.
He made these remarks during a media briefing held at the Shangri-La Hotel in Colombo last Thursday.
He said, “We transformed a previous loss of Rs. 323 million into a profit after tax of Rs. 4.28 billion, with revenue rising to Rs. 55.2 billion. Operational excellence reduction of Rs. 1.1 billion, maintenance cost reduction by 21 per cent, license cost reduction by 10 per cent and prudent investments into new improved technology allowed SLT-Mobitel to this transformation with return on investments reaching 9 per cent on average. The company’s debts have also reduced by 25 per cent (Rs. 13 billion) in the first six months.”
Making Sri Lanka the next nerve centre, a digital data centre in the region is a big dream, Dr. De Silva reiterated while stating, “Sri Lanka has the global connectivity in the region with SLT-Mobitel having four data centres (tier three data centres). Sri Lanka can build data embassies here, while other countries can also have data backup centres here.
He also mentioned that there are more than seven million subscribers for 2G, 3G and 4G networks in Sri Lanka. 5G is a frontier technology which is yet on trial. The investment component to implement 4G to 5G is double the investment made from 3G to 4G.
Energy is a big component at data centres and transitioning to renewable energy is the way forward. If the company is moving forward with AI technology, then the cost will be even higher. Reduction of carbon footprint through energy efficient operations, transparent reporting and disclosures and ethical business practices and anti-corruption measures shapes the future by embracing environmental, social and governance principles, he noted.
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