Suren J Amarasekera resigns from the post of the MD (Managing Director) at Ncell, the private telecom company. As known, Ncell Officials were already aware of his possible step down. Friday (May 10, 2019) would be the last day of his tenure at Ncell.
Sources say that Mr. Suren cited his personal and family issues to be the reason behind the resignation. He was appointed in the post on July 7, 2017.
The top managerial position at the mobile operator, Ncell steps down at a time when Ncell is fighting legally for their tax issue both locally and internationally. Ncell had challenged the capital gain tax amount set by the Large Taxpayers Office (LTO) at the apex court. Similarly, Ncell already made a request for arbitration at International Center for the Settlement of the Investment Disputes (ICSID), Singapore.
For their petition at Apex Court, they had been successful with the Stay order for not to recover the tax until further discussion. At the ICSID, Ncell filed a request for arbitration claiming Nepal contravenes the bilateral agreement between Great Britain and Nepal.
Reason for resignation
As sources claim the resignation was solely his personal and family issue, some people try to connect the capital gain tax issue with the resignation. The personnel also refuse any connection between the resignation and the CGT.
Apart from the CGT, the resignation can also be related to the recent news on Ncell’s profit which declined by 3 billion in the year 2018. For which, Ncell blames additional TSC in Voice and Data and more issues.
Before, Suren J used to work as Strategic Projects Director in Axiata Group Berhad, Corporate Headquarters in Kuala Lumpur, Malaysia, focusing on key group initiatives across its South Asian operations in Bangladesh, Nepal, Sri Lanka, and Pakistan.
Ncell is a mobile operator owned by Malaysian telecom giant Axiata. They have 2G, 3G and 4G mobile networks. Read more news about Ncell.
