Commercial Credit awarded ‘Best Finance Company in Asia’

Saturday, 15 October 2011 00:00 -     - {{hitsCtrl.values.hits}}

Cementing its reputation as a premier financial institution benchmarking the highest international standards of service and operation, Commercial Credit was adjudged the ‘Best Finance Company in Asia’ at the recently concluded international UDC Business Awards in Malaysia.

Presented by the former Prime Minister of Malaysia, Dr. Mahathir Mohamed, the Award was accepted on Commercial Credit’s behalf by the DGM – Corporate Planning Andrew Samuel in the presence of DGMs (Operations) K.L.A Senevirathna and Sudath Jayasekera. “Winning the prestigious international UDC Business Awards validates Commercial Credit’s reputation as an eminent financial institution in the Asian region, and puts the company on the global map of leading finance institutions,” Commercial Credit PLC, CEO Roshan Egodage said.

Presented for the first time by the Universo De’Comercio (UDC) UK in collaboration with El Universo De’Comercio Sdn Bhd, Malaysia, the UDC Business Awards attracted much attention from private and government sectors, as well as leading business personalities and entrepreneurs.  Prestigious and much sought after, the Awards showcase high achieving companies and personalities around the world as well as highlight the importance of business integrity. The UDC has cited Commercial Credit’s outstanding accomplishments in business development as the defining factor in the company winning the Award.  Competing among several prestigious companies in the Asian region, the company’s stellar track record of successes and record-breaking achievements over the past few years secured the company the illustrious Award.

“In addition to past achievements, the company’s exceptionally positive future projections make Commercial Credit a prime example of the type of successful and visionary company the UDC Awards aim to showcase,” DGM – Corporate Planning, Andrew Samuel pointed out.

Corroborating his statement are the figures the company has achieved in terms of profit and growth. A 1457% increase in pre-tax profits for the year ending 2011 compared to 2010, and a staggering rise in profits from Rs. 15  million for the first quarter of 2010  to Rs. 192  million for the corresponding quarter of 2011 earned the company the distinction of the highest profit increase in the finance industry.

“In addition, the Interest and Expenditure Gap has grown a staggering 1400% from Rs. 10 million to Rs. 150 million per month, enabling the company to claim the highest ROE in the industry.  Achieving these astronomical figures in an industry dominated by a number of established players is true testament to the company’s strategic direction and pioneering vision,” Samuel added.

Held at the Putra World Trade Centre in Kuala Lumpur, Malaysia last Saturday (8 October), the Awards presented an opportunity for companies and business people from all over the world to network with each other and take advantage of opportunities to expand their businesses internationally.