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Sri Lanka Equity Forum » Stock Market Talk » Janashakthi to venture into Leasing business

Janashakthi to venture into Leasing business

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1Janashakthi to venture into Leasing business Empty Janashakthi to venture into Leasing business on Sat Jan 22, 2011 12:42 pm

Quibit

Quibit
Senior Vice President - Equity Analytics
Senior Vice President - Equity Analytics
Janshakthi Group owned by Shafter family is planing to venture into leasing business by acquiring the Orient Financial Services Corporation Limited which is fully owned subsidiary of United Motors Lanka PLC (UML). Deal is expected to be finalised shortly.

Untied Motors have been contemplating in divesting its leasing business for quite a sometime in order to concentrate more on its core business.

Orient Financial Services is a registered leasing company under the regulations of Central Bank which has made a profit of Rs 40mn for the year ended 31st March 2010.

This news is likely to have an impact on both Janashakthi Insurance (JINS) and United Motors Lanka PLC (UML) shares as both companies are listed on the Colombo Stock Exchange.

Avril

Avril
Equity Analytic
Equity Analytic
Janshakthi seems to be on a buying spree.

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