Melsta Regal introduces new service

Melsta Regal Finance Ltd, which recently forayed into the financial services industry in Sri Lanka has introduced a new service to entrepreneurs.

The working capital solution '360 degree trade finance solution' comprises a wide range of financial facilities ranging from opening of Letters of Credit, import loan and revolving short term loans, warehousing and logistical services, debt factoring, debt collection and sales ledger administration services. "The product would be an impetus to growth for a wide range of businesses ranging from SME's to large corporates," a spokesman for the company said.

Chairman, Melsta Regal Finance Ltd and Melsta Corp Ltd, Amitha Gooneratne said, "Sri Lanka is at a important juncture of economic development with plans to reach important milestones of being a $ 100 billion economy and reach a per capita income level of $ 4,000. The financial services sector should support the economic development by introducing superior financial services to support the SME sector." "The company has launched an integrated working capital solution under one roof.

This is an innovative working capital solution, which would encompass a supply chain and financing solution within one entity. This service harnesses the strategic competencies of the Group, which has diversified interests in insurance, logistics, call centre operations and telecommunications."

Director and CEO of the Company, Nishaman Karunapala said, "Through this innovative solution we hope to revitalise the SME sector by offering working capital services and logistical support and introduce financial convenience through value added services to assist the economic development of the country."