Financial Times

LOLC to enter Asia Pacific

Lanka Orix Leasing Company (LOLC), is looking at a rapid expansion into the Asia Pacific region this year following a sharp rise in profits at Rs.664 million in 2005 against Rs.562 million in the earlier year, its highest profit in five years.

“This year we are planning to expand into the Asia Pacific region and we will be aggressive in property development this year,” a company source said, adding that the company will strive to capitalise on new business opportunities as well this year.

Ishara Nanayakkara, Deputy Chairman, LOLC in the company’s annual report said the company will seek to map its long term strategy, while diversifying into new sectors that show strong profit potential.

“We are planning to enter the niche markets in the Asia Pacific region to establish locally focussed customised businesses,” he said.

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