Singer Finance leads Tier Two rankings by K Seeds Investments

Monday, 9 November 2020 01:57 -     - {{hitsCtrl.values.hits}}

In the latest national rankings of ‘Listed Finance Companies of Sri Lanka’ Report by K Seed Investments, Singer Finance (Lanka) has seized the best performing Finance Company rank among Tier 2 finance companies in Sri Lanka.

The report, issued by K Seeds Investments Ltd. has identified Singer Finance (Lanka) as the leader in its Tier 2 (with an asset base of Rs. 20-100 billion) among listed finance companies out of 12 such companies ranked. 

The accolade to Singer Finance comes through a ranking carried out considering their excellent performance in the fourth quarter of 2019/’20 (1 January to 31 March).

Singer Finance (Lanka) Chairman Aravinda Perera commented: “This top ranking is a clear indication of growing acceptance of Singer Finance’s reliability and returns on investment. This is a vote of confidence from the industry to us and we are delighted by this accolade.” 

The report groups the listed finance companies based on their asset base, and ranks them in their respective categories among its peers. Singer Finance topped the ‘Category 2’. 

“The results of the report depict the commitment of Singer Finance to achieve the highest standards to meet the future expectations of the listed finance company sector,” Perera adds.

‘Ranking of Listed Finance Companies of Sri Lanka’ report ranks the Finance Companies according to their performance results stated in their Colombo Stock Exchange interim reports. 

The sample for the survey consisted of randomly chosen licensed finance companies listed in the Exchange. 

The companies were evaluated based on the latest quarterly financial statements published. 

The finance companies were categorised into four categories based on the size of the asset base. 

The Categories 1, 2, 3 and 4 denoted the companies having an asset base larger than Rs. 100 billion, asset base between 20-100 billion, asset base of Rs. 10-20 billion and asset base smaller than Rs. 10 billion respectively.