Multi Finance PLC will launch Phase II of their national level reforestation campaign ‘Each One Plant One’ (EOPO) on 6th July 2018 at the chosen 7-acre land area at Ilukpathakanda.
Affected by continuous and heavy deforestation, pinus tree plantation as well as various other human activities, Ilukpathakanda is a land area classified as degraded, located adjoining the Sinharaja World Heritage Rain Forest in the Ratnapura District, under the Kalawana Divisional Secretariat. In 2003, the site experienced the largest landslide ever to occur in the district, and has since been declared a landslide prone area.
With a pledge to plant 10 trees for every single transaction, Multi Finance PLC (MFPLC) launched their mega eco-sustainability campaign EOPO in March 2018 by planting 1000 saplings along the Southern Expressway from Kottawa towards Matara. Phase II of the project at Ilukpathakanda will be launched by MFPLC in collaboration with the Rainforest Protectors of Sri Lanka, a year-long initiative that will be complemented by awareness programs on the importance of ecosystem rehabilitation for communities in the area.
The main objective of the project is to enhance the stability of the mountain slopes by restoring the affected area back to its natural habitat.
Ilukpathakanda is also located in close vicinity to the proposed Hapugoda Forest Reserve, and this reforestation aims at creating a new biolink between the two areas to further strengthen and stabilize the biodiversity of the region.
“We are eager to launch the Ilukpathakanda project in July, since the area was already affected by heavy rains during the recent few weeks,” stated Multi Finance PLC Executive Director/CEO – Pushpike Jayasundera.
With a proud heritage of over 40 years of being in business, Multi Finance Plc (MFPLC) has been a source of strength to businesses and entrepreneurs in the urban, rural and SME markets, playing a pivotal role in contributing to the growth of the Sri Lankan economy.
The company’s acquisition by rapidly expanding conglomerate Fairway Holdings in June 2017 has created greater potential for the company to expand with existing customers as well as exploring untapped credit markets.
Fairway Holdings, the leading property developer in luxury vertical solutions, has rapidly ventured into multiple business areas including leisure, financial services, waste management, aviation, trading, biotechnology and aquatic resources.
A key feature of this diversification has been Fairway’s ability to attract and sustain some of the best industry specialists from relevant segments, which has paved the way for MFPLC to be steered by a strong new management. Led by Chairman Kuvera de Zoysa, President’s Counsel, the new and dynamic board of directors of MFPLC counts over several decades of professional experience in leading multinational corporations across a wide range of industries, with promising exponential growth for the company. The members of the board of directors also include Pushpike Jayasundera, who will serve as Executive Director/CEO whilst Champika Attapattu will take on the role of Executive Director, Legal. Serving as independent non-executive directors are the following: Dr. Ravi Ajith Fernando, Imal Fonseka, Prasann Leanage, Shelton Pieris, K.D.P.C. Abeysekera and W.A. Lakshaman. As a result of the acquisition, MFPLC has experienced a rapid evolution, attracting the industry’s best talent to join its corporate management and expanding their existing branch network.The team is well-resourced with highly qualified financial specialists to identify customer requirements and offers the most pragmatic financial solutions.
“At present MFPLC is one of the few finance companies in the country offering specialised solutions across a service portfolio consisting of fixed deposits, savings, leasing, business loans, multi draft, pawning, microfinance, trader finance and more,” stated Multi Finance Plc Executive Director/CEO Jayasundera. “Under the visionary direction of Fairway Holdings, we are confident of strengthening our decade-long identity of reliability, and look forward to enhancing shareholder value through financial stability, growth and specialised financial services in the coming years.” MFPLC is a licensed finance company under the Central Bank of Sri Lanka. MFPLC was established back in 1974 as a limited liability company in Kandy, and re-registered under the 2007 Companies Act No. 7 in 2009. It functions as a quoted company on the Colombo Stock Exchange.
Fairway Holdings, a rapidly diversifying conglomerate, recently acquired Multi Finance PLC under its umbrella with a view to giving this erstwhile financial institution that is known for its trust for 42 years and excellent array of financial services a veritable boost to serve its clients even better.
Multi Finance has shown much resilience and stability since its inception and has weathered many a storm in an era of worldwide financial turbulence and has emerged with an identity of strength to withstand financial adversity and is increasingly earning a position of sterling repute in the financial sector of our country.
Fairway Holdings would be using its vast experience in the corporate sector of Sri Lanka that ranges from construction, to leisure, aviation, trading, pharmaceuticals, biotechnology, waste management and financial services with particular emphasis on microfinancing via Lakderana to revive the industry and financially empower the masses to contribute to national development.
Also, Fairway Holdings will strive to enhance shareholder value through financial stability and growth, satisfy its valued customers by providing innovative solutions for their financial needs, train and empower employees to give their best, achieve the highest operational efficiency through advanced technology, adhere to the highest corporate ethics and social responsibilities and be recognized for expertise and professionalism.
Among the plethora of customer friendly services offered would be fixed deposits at very attractive rates of interest, savings, leasing, business loans, multi drafts, pawning/gold loans, and trader and microfinance.
This newly acquired finance company has been registered under the Monetary Board of the Central Bank of Sri Lanka in terms of the Finance Business Act No.42 of 2011 and is also a registered leasing establishment under Section 5 of the Finance Leasing Act No.56 of 2000.
It is also an approved credit agency under the Mortgage Act No.06 of 1949 and the Trust Receipts Ordinance No.12 of 1947.
It was incorporated as a limited liability company on October 14, 1974 under the Companies Ordinance No.51 of 1938 and the Company was re-registered under the Companies Act No.07 of 2007 on February 26, 2009. The Ordinary Shares of the Company were listed on the ‘DiriSavi’ Board of the Colombo Stock Exchange on July 13, 2011.
Furthermore, it would come under strict audits and checks of Fairway Holdings in addition to the direct supervision of Central Bank of Sri Lanka and would be backed by its untarnished reputation to being a financial institution of first choice for all financial needs of the general public.