Laugfs to venture into financial sector

The Laugfs Group plans to enter the financial services sector through its newest subsidiary, Laugfs Capital.

W.K.H Wegapitiya

A diversified conglomerate, Laugfs will cater to customers in the fields of leasing, business loans, hire purchase, personal loans and factoring.

“Laugfs Capital will leverage on the trust and confidence placed in the Laugfs brand, with its years of experience in catering to the demands of its rapidly growing customer base to make in-roads into the country's competitive financial services sector," a spokesman for the company said.

"Despite being a new entrant to the field, Laugfs Capital has identified several gaps in the needs of consumers which it will specifically cater to by offering a complete portfolio of efficient and convenient value added financial services,” he said.

The financial services sector is one of several identified by the Group as potential high growth sectors.

Laugfs recently displayed its renewed focus on the leisure sector with multiple hotel development projects in tourist hot-spots across the island.

The group is engaged in several other growth sectors including power and energy, engineering, retail and hospitality and property development.