Divasa Finance Limited launched

Asia Commerce Limited was rebranded as Divasa Finance Limited which also coincides with the company receiving the finance company licence and moving its city office to a location at Colpetty.

Director/CEO of Divasa Finance Limited, Lakshman Uduwara said, we are now a finance company registered with the Central Bank which needed our vision to be restated with an improved corporate profile and poise ourselves to deliver new expectations.

Therefore, rebranding our image with a new identity was essential to fulfill these aspirations.

He said that Divasa in the vernacular means the third eye or having the ability to discern the future and hence the adoption of the name.

The company's product range includes finance and operating leases, hire purchase, short term trade finance, medium term loans, cheques and trade bill discounting and margin trading.

The company also recorded an impressive performance in the financial year ended March 31st 2011 with unprecedented profits being recorded.

Advances and deposits recorded encouraging growth and though advances have increased the quality of assets has been retained as indicated in the NPA ratio of 3.6 percent as at June 30, 2011.

"Our Board has always encouraged reaching out to more clientele and offering our financial services to make their dreams become a reality.

To complement this policy our fourth branch was opened on Wednesday in Kalutara.

The company has plans to open one more branch before the end of the year in Kandy," said Uduwara.

The company will provide solutions for houses and real estate initially through land plots in Katana and Kottawa.

Business initially commenced in May 2005 as a specialised leasing company under the name "Asia Commerce Limited".

Divasa Finance Ltd, received the finance company licence on May 23, 2011.

The directors of the Company are Dr Nalaka Godahewa, Dilith Jayaweera, Varuni Amunugama Fernando and Director CEO Lakshman Uduwara.