Melsta Regal Finance infuses new capital, complies with CB rules
View(s):Melsta Regal Finance Ltd recently enahanced its stated capital to Rs. 1.3 billion through an additional capital infusion of Rs. 650 million in the form of a rights issue. Through this capital infusion by Melstacorp Ltd, Melsta Regal Finance complies with the core capital requirement, under the new regulations enforced by the Central Bank of Sri Lanka (CB), a move which is in line with the CB’s revised regulations to stabilise the non–bank financial institutions of the country to achieve consolidation of the financial sector, the company said in a statement to the media. Company Chairman Amitha Gooneratne said the infusion of capital would be an impetus for the company’s future expansion plans. “This capital infusion is a proactive move, through which we will be compliant with the Central Bank’s capital adequacy requirements till January 2016. This signifies our commitment and support to the Central Bank’s consolidation process. Further, we could maintain the company’s growth momentum achieved since the inception,” he said. The company which commenced operations in November 2012 says it has maintained a continuous growth trajectory and has carved a niche in providing comprehensive working capital financing solutions. Melsta also offers a wide variety of tailor made leasing and hire purchase solutions and loans.