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| Friday, 14 May 2004 |
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Asian Centre set up in Colombo : Demand for Leasing grows 12% annually By Shirajiv Sirimane The Asian Centre for Lease Education (ACLE) was set up in Colombo on Tuesday. This is the first time in the Asian region that such an institution is being set up. Chairman and CEO of Amembal and Associates, the world's foremost authority in leasing Sudhir Amembal who was the chief guest on the occasion said that the demand for leasing is growing at an annual growth of 12%. He said that delays in the legal system is a major concern in the Leasing industry and this is common to Sri Lanka and Asia as well. This is one reason the industry is not developing in Asia as fast as in other parts of the world. The best legal system is in Brazil where the courts issue an order to seize the property of defaulters within 24 hours. The Chief Executive Officer Commercial Leasing Dr. Dilanjan Soysa said that Rs. 32 billion was leased in Sri Lanka last year. The main products were motor vehicles. Over 70 percent of private buses are operating on lease. He said that many red tape problems in the Leasing industry are now being reduced. With the consolidation of the peace process more people are investing. It is estimated that Rs. 42 billion of leasing packages will be sold this year. The new Asian Centre for Lease Education will provide professionals in the Leasing Industry with the knowledge and skills in a rapidly changing business environment and evolving global economy. ACLE will initially hold seminars, workshops and a Certification program designed to develop indepth knowledge of varied subjects for the effective practice of leasing. The Certification Program will be designed to enable leasing professionals to a qualification framework that encourages educational progression and provides a frame work for continuous update of knowledge. Amembal has conducted technical presentations on leasing in over 50 countries. He currently focuses on emerging lease economies. As a government advisor, he has spearheaded lease consultancy engagements, conducted on behalf of the governments of Bosnia and Herzegovina, China, Croatia, Estonia, Indonesia, Korea, Kyrgyz Republic, Latvia, Lithuania, Macedonia, Mongolia, Nicaragua, Nigeria, Poland, Romania, Russia, Sri Lanka, Tajikistan, Turkmenistan, Uzbekistan and Yugoslavia. |
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