New Lease

Readywear Industries and subsidiary United Motors drove into the leasing sector on Monday looking for a three per cent market share by March 2004.
Orient Financial Services Corporation Limited will initially limit services to leasing and hiring facilities, later expanding to offer other options available with a fully fledged leasing company.rn

rnStarting off with an issued capital of Rs. 125 million, the firm will look to raise an additional Rs. 600 million by March 2004 to fund its business mainly targeted at the corporate sector and lquote high net worth niche.rn

rnCEO, G C B Ranasinghe says the banks have already offered their support to lend, based on the strengths of their parent company. rn

rnHowever, Ranasinghe added that the firm would also consider alternate options to raise low cost funds. rn

rnMeanwhile, the firm hopes to set itself apart from the rest of the industry, offering faster application processing and competitive rates.rn

rnThe firm has invested in a fully fledged IT set