Melsta Regal Finance commences business in Kurunegala
Thursday, 12 September 2013 00:00
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Melsta Regal Finance Ltd. (MRFL), a subsidiary of the Distilleries Company launched in October 2012, opened its first branch in Kurunegala on 31 August 2013. The branch office was declared open by the Group Chairman Deshamanya Harry Jayawardena and MRFL Chairman Amitha Gooneratne, in the presence of MRFL officers and dignitaries from the area.
Melsta Regal is backed by a group with a history of financial stability spanning over a century, with diversified business interests that further strengthen its financial stability. Furthermore, MRFL was also rated A+lka by Fitch Ratings Lanka Ltd. in its first year of operation.
“We are giving a unique service to our customers and we assure them that their monies are safe with us. Today finance companies are viewed with a lot of trepidation by depositors and I wish to assure the general public that at MRFL depositors need have no fears,” said Deshamanya Jayawardena, speaking at the opening.
A large number of deposits were received at the opening, due to the fact that MRFL is backed by the Distilleries Company with its corporate history of over 100 years and the fact that MRFL staff had diligently canvassed for business throughout the entirety of the Kurunegala District.
A token of appreciation was handed over to the first five customers by Deshamanya Jayawardene. Chairman of Rinsi Enterprises Rathnasiri Dolamawatha, Proprietor of Munasinghe Bakers & Food Court Champika Munasinghe, Priyantha Kumara of Shanthi Stores, Hiran Costa of Costa Motors and Suranga Munasinghe were among the first five customers.
MRFL at its inception introduced a wide ranging product portfolio encompassing leasing, hire purchase, hiring, factoring, corporate loans, personal loans and an integrated working capital solution with Letter of Credit facilities, pledge and import loans, etc. These innovative credit facilities which were aimed at the SME and corporate business segments have proved to be successful.
Drawing from the group synergies, MRFL introduced an integrated working capital solution encompassing LC opening, warehousing, logistics and debt factoring. The company’s products are unique and targeted at expanding business segments within the country; hence the company’s products are branded as ‘Regal Financial Solutions’. This range of products and customer friendly service jas paved the way for MRFL to differentiate itself amongst other finance companies.
MRFL also launched its savings products during the first six months of operations, aimed at providing higher yields and developing savings habit among the community. This makes MRFL one of the few finance companies that offer a savings product line.
The company hopes to expand its geographical footprint by opening branches in key cities; the Kurunegala branch being the first of many more to come.
