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| Sunday, 1 August 2004 |
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| News Business Features Editorial
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Edirisinha Trust Investments expanding to meet present needs by L. S. A. Wedaarachchi. A pioneering company in investment business in Sri Lanka - Edirisinha Trust Investments Ltd is in the restructuring process to meet the present needs of the market. This was revealed by Chief Executive officer of ETI Mahendra de Silva. It is expected to develop four major areas, namely leasing, pawning, real estate and personnel loan schemes, under the said restructuring process, according to the CEO of ETI. ETI has been in business for the past 35 years and it has earned a reputed name in the pawning business. It has pawning centres in the Metropolitan area as well as in such remote areas as Moneragala. Another five centres will be opened in the near future. Housing projects for middle and uppermiddle classes will commence in the near future utilising lands that belong to ETI. The first, of the said housing schemes will commence at Kiribathgoda as a pilot project. Three types of houses are being planned and it is expected to complete before August 2005. The ETI leasing scheme will also be in operation in the near future. Mr. Mahendra de Silva who is also a charted accountant and MBA holder of Sri Jayawardenapura University reveals that ETI leasing may have novel benefits for its customers and leasing applications will be considered on an individual basis. Personnel loan schemes is also one of the divisions which under the ETI umbrella will be expanded. Employees are entitled to obtain personnel loans up to Rs. 300,000 on a reasonable rate of interest under this scheme. Compulsorily having the repayment guarantee from their employers. |
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