SME Factors of Malaysia conducts due diligence on Sri Lanka

Wednesday, 26 November 2014 00:00 - - {{hitsCtrl.values.hits}}

Conducts meeting at Ceylon Chamber

SME Factors hold meeting at the Chamber

A delegation from the SME Factors Sdn Bhd of Malaysia, a firm which is in the business of financing SMEs was in the country to continue with its due diligence process to set up operations here in the country. The firm which is planning to initially bring in a sum of Rs. 400 million, in the form of capital infusion and loan funding met with the representatives of public and private sector officials to explain their Sri Lanka plan. SME Factors is planning to launch in Sri Lanka in January 2015 in collaboration with a local party. During the meeting at the Chamber, they met with the private sector representatives, who are also the members of the Sri Lanka-Malaysia Business Council of the Ceylon Chamber of Commerce. SME Factors hold meeting at the Chamber SME Factors says it will work with local agencies to find the potential SME operators to provide non-collateral loans, which will also adopt a much speedier loan approval process. The firm will not accept deposits from the public. During the meeting held at the Chamber, delegation from the SME factors met with the President of the Sri Lanka-Malaysia Business Council Nilrukshi De Silva, United Motors Lanka PLC Executive Director – Finance Aashiq Lafir, Amana Bank Head of Administration Fairoze Burah, Ilham Director Khalid M. Farouk, Hemas Air Services Ltd Director/General Manager Dushy Jayaweera, Idac Ltd Managing Director Dr. M. Rohitha Silva and several other members of the SL-Malaysia Business Council.