|
|
|
| Sunday, 10 July 2005 |
 |
|
 |
Business |  |
| News Business Features Editorial
|
Focus on value added lease plans by L. S. A. Wedaarachchi The urgent necessity of value added lease plans for motor and other related leasing business has been brought into sharp focus. At present the relationship between the lessor and the lessee in the leasing business is virtually a role of financier. Essentially that situation should be developed to the standard of leasing activities in developed countries such as USA, UK and other European countries. Explaining the future plans and the present standard of the leasing business in developing countries, the chief Executive Officer (CEO) of the recently inaugurated leasing company - Sampath Leasing and Factoring Limited Company N. K. Hulangamuwa said that in developing countries the lessor will also take a number of asset risks. "In a global context the Sri Lankan leasing market is in the early stages of development. Sampath Leasing and Factoring Limited will focus on bringing to the local market, qualitatively enhanced lease plans of more developed markets. For instance the principal lease plan currently available is the finance lease where the lessor merely plans the role of a financier. Sampath Leasing Factoring Ltd (SLF) will focus on value added lease plans where the lessor will also assume a number of asset based risks otherwise borne by the lessee. In such lease plans the lessor would for instance take over the burdens of asset maintenance and repair and assume risks associated with obsolent and residual values. Other value added lease plans could incorporate operating leases, bring transfer option and short or medium term cancellable leases, he said. Sampath leasing and Factoring Limited, a fully owned subsidiary of Sampath Bank which has served the nation with its hallmark technologically state of the art system network operated through island wide branches and automated machines, commenced business operations last week. |
|
| News | Business | Features
| Editorial | Security
| Produced by Lake House |
