Wednesday, 16 October 2013 00:00
Melsta Regal Finance Ltd. (MRFL) has embarked on a rapid expansion drive by penetrating into the regions and recently opened its first branch in Kurunegala.
The company in its first year of operations it now being reckoned to be a key player in the local financial sector. It was recently rated with an A+ rating by Fitch Ratings Lanka Ltd. MRFL also launched its savings products, during the first six months of operations, making MRFL one of six companies within the finance company sector to possess a savings product line
Speaking on the progress of the company thus far, Melsta Regal Finance Chairman Amitha Gooneratne stated: “Our key strength lies in the fact that we are backed by a group with diversified business interests. The strengths of the company mainly derive from the group strengths possessed by the company, along with its financial stability.”
Drawing from the group synergies MRFL introduced an integrated working capital solution encompassing LC opening facilities, warehousing, logistics and debt factoring.
The company in its inception possesses the widest product portfolio encompassing leasing, hire purchase, hiring, factoring, corporate loans, personal loans and an integrated working capital solution with Letter of Credit facilities, pledge facilities, import loans, etc. Through these innovative credit facilities the company hopes to ignite the progress of the SME sector, through innovative financial solutions.
MRFL also offers a range of products which appeal to the corporate sector and herein flexible terms, speed and customised solutions are the cornerstone. 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 symbolising flexibility, innovation and service’.
Currently, MRFL facilitates the leasing of equipment and vehicle leasing. MRFL leases specialised equipment for the medical, printing, restaurant and hotel, construction, wood working sectors, as well as a wide range of office equipment. MRFL also facilitates the import and opening of Letters of Credit for the purchase of vehicles.
Enumerating the differentiating benefits, MRFL’s Director/CEO Nishaman Karunapala said: “In order to instil and develop financial discipline amongst our clientele, a special free bonus rental scheme has been introduced to our motor bike clientele. Through these clients who have paid all consecutive rentals on a timely basis will have one rental waived off as a bonus.”
Through MRFL’s Regal Super Lease, clients could upgrade their vehicle during the lease period, thus keeping up with the newest vehicles and latest technology as their income earning potential increases. “Thereby clients have the advantage of having a tailor made rental where they can decide on the rental as per their income levels and earning capacity and our trained marketing team would visit clients at the door step to attend to their leasing needs.”
MRFL does not require guarantors for facilities depending on the down payment, while clients could avail themselves of discounted repairs at the state of the state-of-the-art Collision Repair Centre situated at Seeduwa and Kandy.