Ceylinco Finance new Chairman confident of success
Gayan KANCHANA
Ceylinco Finance PLC announced that under the guidance of the new
management team the company has been strategically re-positioned.
Speaking at a press conference held recently, new chairman Ceylinco
Finance PLC N. B. S. B. Balalle said “ My new position is challenging
but before accepting this position I investigated the current position
of this company and found that this is a well managed company and there
was not much adversity for the company.
“The challenge is rebuilding the confidence of the public and we have
a strategic plan and have taken various initiatives. The company will be
consolidated in financial service business and all non core businesses,
subsidiaries and assets will be sold off to improve the liquidity
position of the company,” he said.
“This will increase the liquidity of the company by over Rs.1
billion. We are also planning on getting a lot of credit lines from the
financial sector to improve our liquidity, he said.
“After the ending of the war, according to expert opinion there is
optimism that the country will be developed, so we believe that under
these circumstances this company can be taken forward. We have another
plan to diversify into different financial sectors, and collect new
capital from our existing and new share holders as well,” Balalle said.
“We get the support of the Central Bank and other financial companies
to rebuild the confidence and improve our business activities. Our asset
position is strong to build the confidence in the financial sector to
attract credit,” he said. N. B. S. B. Balalle is a fellow member of the
Institute of Bankers Sri Lanka, former Assistant General Manager of the
Bank of Ceylon, Sampath Bank and Commercial Bank, former CEO of the
Union Bank and the former Chairman of the National Savings Bank.
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