The appointment of Janaki Kuruppu, director and consultant to the President's Secretariat as the nominee independent, non-executive director of the EPF has been accepted with effect from August 25, it said.
Kuruppu is also chairperson of the state-run Regional Development Bank and a nominated member of the National Economic Council with over 20 years of experience in management, marketing and economic research, it said.
The EPF, the biggest fund in the island, held a stake of just over 13 percent in the ship yard as at June 2010, having raised its stake from three percent as of March 31, 2010.
Colombo Dockyard is majority owned by Japan's Onomichi Dockyard.
The EPF has been buying into listed firms on the Colombo Stock Exchange in recent months to capitalise on a post-war economic revival and diversify away from government securities as interest rates fall.
It has also bought into listed commercial banks, raising a controversy over perceived conflict of interest as the central bank, which manages the fund, is also the banking regulator.
source - www.lbo.lk
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