Melsta Regal Finance begins operations offering incentives for SMEs
View(s):Melsta Regal Finance, a subsidiary of Melstacorp owned by Harry Jayawardena and his associates, began accepting deposits of around Rs. 20 million from four top corporate clients at the inauguration of the company on Thursday under the patronage of Central Bank Governor Ajith Nivard Cabraal, company chairman Amitha Lal Gooneratne said.
It is the newest addition to Sri Lanka’s 45 finance companies. The new finance company will offer all financial services provided by banks accept cheque clearing, he revealed.
The parent company Melstacorp, a 100% owned subsidiary of the Distilleries Company of Sri Lanka PLC has assets worth Rs.30 billion and thus this finance company has a sound financial backing to serve every eligible person through facilitative relationships in an enabling and cooperative environment, he added. Mr. Gooneratne told a media conference in Colombo that they are planning to open 12 branches countrywide including the North and East as there is a vast potential for micro financing in these areas within a year. He noted that the company is of the view that the small and medium scale industrial sector is the engine of the growth of the industry and it needs a financial impetus to fuel the growth of the economy.
It would also be focusing on corporate entities with very specialized financial needs, through tailor-made corporate finance solutions.
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