Melsta Regal Finance expands to three key provincial towns

Tuesday, 22 April 2014 00:01 -     - {{hitsCtrl.values.hits}}

Melsta Regal Finance Ltd. (Melsta Regal) has embarked on a rapid expansion drive by penetrating into the regions. The company expanded its geographical foot print to the key provinces of Kurunegala, Matara and Kandy. Melsta Regal’s entry to the Central Province was marked with the opening of the Kandy branch which is located at the Melsta Logistics Ltd. Collision Repair Centre, located in Katugastota. The Kandy branch is located in Katugastota availing clients to conduct their business transactions with the convenience away from the hustle and bustle of the Kandy city. Speaking on the occasion of the opening ceremony, Melsta Regal Finance Ltd. Chairman Amitha Gooneratne emphasised: “Our key strength lies in the fact that we are backed by a group with diversified business interests. The strength of the company mainly derives from the group strength, along with its financial stability.” Drawing from the group synergies Melsta Regal introduced an integrated working capital solution encompassing letter of credit opening facilities, warehousing, logistics and debt factoring, which is an innovative product to the financial landscape. The company is rated with an A+ rating by Fitch Ratings Lanka Ltd. in its first year of operations, and is a key player in the local financial sector. Melsta Regal also launched its savings products, during the first six months of operations. Melsta Regal Finance since its inception enjoyed the widest product portfolio including 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, introducing innovation to financial solutions. Melsta Regal 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, Melsta Regal facilitates leasing of equipment and vehicle leasing. Melsta Regal leases specialised equipment for the medical, printing, restaurant and hotel, construction, wood working sectors, as well as a wide range of office equipment. Melsta Regal also facilitates the import and opening of letters of credit for the purchase of vehicles. Enumerating the differentiating benefits, Melsta Regal’s Director/CEO, Nishaman Karunapala highlighted: “In order to instil and develop financial discipline amongst our clientele, a special free bonus rental scheme has been introduced to our motor bike and three wheeler lease clientele. Through this initiative clients who have paid all consecutive rentals on a timely basis will have one rental waived off as a bonus.” He further added that through Melsta Regal’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,” Karunapala opined. Melsta Regal does not require guarantors for facilities depending on the down payment, while clients could avail themselves of discounted repairs at the state- of-the- art Collision Repair Centre situated at Seeduwa and Kandy.