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| Sunday, 22 January 2006 |
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Ceylinco Leasing launches first debenture issue Ceylinco Leasing Corporation Ltd, launched their first debenture issue at a ceremony held in Colombo last week. The public will get an opportunity to invest in a leasing company in Sri Lanka. The first issue consists of 950,000 debentures of Rs 100 each. Ceylinco Leasing Corporation's General Manager Bandula Senanayake said the main objective is to raise long term funds for expansion of the core company core business. A series of debenture issues have been planned for this year. He said investors who hold the debentures continuously for four years will be paid 15 percent per annum. Customers have a choice to withdraw at their discretion at the end of the first year with an interest rate of 14.5 percent. A monthly return of 13.5 percent will be offered to those who hold on for one year. The fourth category offers customers a 14 percent interest payable every month. Deputy Chief Executive Director H.K. de Silva said the company saw a growth potential of 20-25 percent in the Medium and Small scale businesses. The company which has a lease portfolio of over Rs 2 billion plans to increase and expand it to Rs. 3 billion by the end of the year. The company has plans to list its stock in the Colombo Stock Exchange in the near future. Deputy Chairperson and the Chief Executive Director, Mrs. P.K. Karunanayake said they have come a long way after the formation of the company in 1997.The company has a good team to achieve its targets, she said. In 2002 Ceylinco Leasing launched Sthaana Vaasi Commercial Property Leasing organisation. (JJ) |
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