LOLC among top-10 Most Respected Firms
Lanka Orix Leasing Company (LOLC) has leaped a significant five
notches to reach the top ten in the latest edition of LMD's Most
Respected entities in Sri Lanka. LOLC is recognised by the magazine as
one of the 'movers and shakers' in the 2015 list.
Commissioned and conceptualised by LMD, and conducted by a leading
research company, AC Nielsen, the ranking of the 11 most respected
entities was based on the views of 800 business leaders such as
chairpersons, managing directors and CEOs. This year's edition of the
Most Respected bears testimony to the can-do corporate spirit.
The magazine reports that LOLC was highly regarded among the Most
Respected entities for its financial performance. It reiterates that the
group's revenue exceeded Rs. 45 billion in the 2014/15 financial year
while profit after tax more than doubled - to register Rs. 6.3
billion.LOLC also acquired a 60% stake in a Cambodian microfinance
entity - ThaneakeaPhum Cambodia (TPC) for US$ 20.3 million. It has also
invested in two properties in the Maldives, to expand its leisure
footprint. The conglomerate made a notable entry to the top 10 for the
first time this year, when some multinational companies lost their
footing, falling drastically in the list.
Sixty-eight listed companies make the mark in the 2015 edition of the
Most Respected, followed by 47 private entities, 22 multinationals and
11 state-owned enterprises. As for sector preferences, conglomerates,
food and beverage entities and the banking sector continued to be the
most favoured, with nearly a quarter of the Most Respected organisations
in the island coming from within the ranks of diversified businesses.
Group Managing Director and Chief Executive Officer, LOLC, Kapila
Jayawardena said that honesty and ethics take on even more weight for
financial services entities. "Respect has to be earned, it can't be
bought. Companies have to work hard to prove themselves to their
stakeholders and their peer groups, shortcuts won't do," he added.
From a leading financial services provider, to the largest
non-banking financial institution, LOLC is today one of the largest and
most diversified conglomerates in Sri Lanka. Its portfolio is broadly
categorised as financial services and non-financial services
encompassing leisure, plantations, agri-inputs, renewable energy,
construction and manufacturing and trading.
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