Business Times

Lankan economy strong and able to withstand global 'jolts':Governor

By Quintus Perera

The country’s strong economy and the stability could withstand the major jolts that are emerging in the world economy as these could be absorbed within the country’s economy without transmitting them to the people, according to Ajith Nivard Cabraal, Governor, Central Bank.

Speaking as Chief Guest at the re-launch of Asia Commerce Ltd with a new name ‘Divasa Finance Ltd’, in Colombo recently, Mr Cabraal said that the might, stability and the strength of the country’s economy is revealed by the fact that 100 new bank branches have opened all over the country and the country’s growth rate is calculated at 8 ½%.

He said that they are conscious of the contribution made by the existing and new finance companies to the country’s economy and they progress with certainty and confidence which is a welcome sign.
The word ‘Divasa’ chosen to rebrand ‘Asia Commerce’ is very appropriate for a finance company which indicates as to how the finance companies move forward and progress in managing their risks well. He said that some such organizations fail because they do not pay sufficient attention to the market behavour.

Dr Nalaka Godahewa, Chairman, Divasa said that the company’s purpose is built around bringing happiness of the people who deal with them and through it to the entire society. The ‘happiness culture’ is built around four cardinal pillars and the first and most important one is the care for customers. The others are: care for the society, care for the environment and the personal development of all citizens.
Lakshman Uduwara, Director/CEO, Divasa said that Asia Commerce is now rebranded as Divasa Finance and its head office is moved to a more convenient and spacious place to Station Road. Colombo. He said that the company has recorded impressive performances in the last financial year ended March 31, 2011 and huge profits were recorded.

The business of the company initially commenced in May 2005 and its product range includes: finance and operating leases, hire purchase, short term trade finance, medium term loans, cheques and trade bill discounting and margin trading. Divasa operates in Colombo, Negombo, Gampaha and Kalutara.

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