Chief Executive, Dialog Axiata, Dr. Hans Wijayasuriya stated that the company looked at investing US $ 120 million dollars this year having already invested US$ 40 million so far in 2015.
Speaking at the market opening on July 8, Dr. Wijayasuriya stated that Dialog had so far invested US$ 1.7 billion, which translates to Rs.180 billion. Dialog Axiata PLC (DIAL) opened trading on the Colombo Stock Exchange (CSE) on July 8, 2015, to celebrate 10 years of the opening of its share issue on the CSE. The Initial Public Offering (IPO) of Dialog Axiata was the largest on the CSE.
Dr. Wijayasuriya further stated that a positive consolidation of mobile service providers would be a suitable option for the local market adding that that Sri Lanka had more operators to cater to market like Sri Lanka.
“Five players is a bit too much for a small market like Sri Lanka and therefore I think that a positive consolidation would be an ideal option,” he told reporters.
In addition, he also stated that the Bay of Bengal Submarine Cable project which is to be completed by latter part of the year would increase bandwidth and ensure abundant availability of international bandwidth to the country.
Speaking on the current political situation and the uncertain nature of it, Dr. Wijayasuriya stated that political certainty was crucial in order to build the confidence of foreign investors who are not familiar with the local situation.
In addition, he also pointed out that the business community would take a wait and watch approach on the issue.