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FINANCIAL CHRONICLE™ » CORPORATE CHRONICLE™ » LOLC HOLDINGS PLC CREATES PLATFORM TO ATTRACT LARGE FOREIGN INVESTORS TO ITS FINANCE COMPANIES.

LOLC HOLDINGS PLC CREATES PLATFORM TO ATTRACT LARGE FOREIGN INVESTORS TO ITS FINANCE COMPANIES.

5 posters

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kanishkaecomm

kanishkaecomm
Senior Manager - Equity Analytics
Senior Manager - Equity Analytics

CORPORATE DISCLOSURE: LOLC HOLDINGS PLC CREATES PLATFORM TO ATTRACT LARGE FOREIGN INVESTORS TO ITS FINANCE COMPANIES. 

As part of LOLC Group's global strategy to attract investors to the large finance companies it has created, LOLC is creating a platform to enable potential investors to acquire a minority stake in the finance companies it owns. LOLC believes that these large-scale foreign investors have the capabilities to support our companies to grow even further and offer an even better service to our customers by introducing latest technologies, technical know-how and providing training to our employees.

For this purpose, LOLC Holdings PLC (LOLC) has designated a fully owned subsidiary, LOLC Ceylon Holdings Limited (LOLC Ceylon) to operate as a platform and plans to list LOLC Ceylon in the Colombo Stock Exchange. Post listing of LOLC Ceylon the shares owned by LOLC in LOLC Finance PLC (LOFC) amounting to 44.79%, shares owned in Commercial Leasing & Finance PLC (CLC) amounting 98.92% and the shares owned in LOLC Development Finance PLC (NIFL) amounting to 55.55% are to be transferred to LOLC Ceylon. As this is an internal group restructuring, the transaction will be executed at the prevailing market prices at the date of the transfer, as an off the floor transaction. LOLC has obtained approval in principle for the above transfers from the Securities and Exchange Commission of Sri Lanka. Further, the Department of Supervision of Non-Bank Financial Institutions of Central Bank of Sri Lanka has confirmed that they have no objection on the proposed transfer.

Winner123 likes this post

Kaptivajkss


Senior Equity Analytic
Senior Equity Analytic

As this is an internal group restructuring, the transaction will be executed at the prevailing market prices at the date of the transfer, as an off the floor transaction.

>>>>>
Did that happen? The latest disclosures from loch and lolc show that they have used the language to kill the retail investors

citylk likes this post

Winner123


Senior Manager - Equity Analytics
Senior Manager - Equity Analytics

@kanishkaecomm as we all know the trf prices of lolc to loch what can we expect these counters in next month. I expect lofc to reach at least 50 and clc to 110.

kanishkaecomm

kanishkaecomm
Senior Manager - Equity Analytics
Senior Manager - Equity Analytics

Winner123 wrote:@kanishkaecomm as we all know the trf prices of lolc to loch what can we expect these counters in next month. I expect lofc to reach at least 50 and clc to 110.
LOLC HOLDINGS PLC CREATES PLATFORM TO ATTRACT LARGE FOREIGN INVESTORS TO ITS FINANCE COMPANIES. Whatsa16[url=https://servimg.com/view/20264002/87]LOLC HOLDINGS PLC CREATES PLATFORM TO ATTRACT LARGE FOREIGN INVESTORS TO ITS FINANCE COMPANIES. Screen58[/url]

Winner123 likes this post

Winner123


Senior Manager - Equity Analytics
Senior Manager - Equity Analytics

👍 lets hope for the best.

Rational Investor

Rational Investor
Senior Manager - Equity Analytics
Senior Manager - Equity Analytics

kanishkaecomm wrote:
Winner123 wrote:@kanishkaecomm as we all know the trf prices of lolc to loch what can we expect these counters in next month. I expect lofc to reach at least 50 and clc to 110.
LOLC HOLDINGS PLC CREATES PLATFORM TO ATTRACT LARGE FOREIGN INVESTORS TO ITS FINANCE COMPANIES. Whatsa16LOLC HOLDINGS PLC CREATES PLATFORM TO ATTRACT LARGE FOREIGN INVESTORS TO ITS FINANCE COMPANIES. Screen58
Can not agree with your CLC TP Wink

Beyondsenses

Beyondsenses
Manager - Equity Analytics
Manager - Equity Analytics

[size=33]LOLC retains top spot in LMD 100 as ‘Most Profitable Listed Entity’ for third year[/size]

Thursday, 25 November 2021


Having recorded a whopping post-tax profit of Rs. 53 billion, LOLC has retained the No. 1 spot in the 28th edition of the LMD 100 as Sri Lanka’s ‘Most Profitable Listed Company’ in 2020/21. 

LOLC, Sri Lanka’s most valuable and globally diversified financial conglomerate, shattered the corporate profit records in Sri Lanka for the 2020/21 financial year by achieving unprecedented bottom line results of Rs. 57 billion in Profit Before Tax (PBT). 

As a result of achieving profits on this massive scale in the history of Sri Lanka’s corporate world, the Group was able to consolidate its position as the topmost profitable diversified corporate in the country, three years in a row – carving out a name for LOLC as one of the largest Micro, Small and Medium Enterprise (MSME) platforms in the world.

Speaking about the achievement, LOLC Group Managing Director/CEO Kapila Jayawardena said: “To become Sri Lanka’s ‘Most Profitable Listed Company’ for three consecutive years is a result of our strategic diversification, into different industries and across borders. This was possible due to our strong operational capabilities that gives us a unique competitive advantage. That is why, we were able to steer through a pandemic with extended periods of a least favourable business climate. Despite the global economic downturn, multilateral and bilateral funding agencies have continued to work closely with us and this reflects the confidence placed in us and the growth potential that LOLC has exhibited throughout, even during the most turbulent of times.” 

During the FY 2020/21, LOLC successfully infused a significant amount of foreign exchange into Sri Lanka’s economy through the 1st tranche divestment of PRASAC in Cambodia. It was the largest ever transaction recorded by a Sri Lankan entity. The Group also sustained its credit rating of ‘SL A’ amidst a year engulfed by the many challenges posed as a result of the pandemic. LOLC also did not retrench or enforce pay cuts on any of its employees locally or overseas even during these turbulent times. 

Moreover, the conglomerate continued its sustainability initiatives through its various corporate social responsibility (CSR) and green initiatives. For instance, 76% of the electricity consumed by the Group in Sri Lanka was generated by renewable energy sources minimising LOLC’s carbon footprint.  

The LOLC Group is currently actively involved in a number of growing sectors both locally and internationally, other than its mainstream financial services business, namely, leisure, plantations, agri-inputs, renewable energy, construction and real estate, manufacturing and trading as well as technology, research and innovation. As a leading player in Sri Lanka’s MSME sector, the LOLC Group has been a catalyst in facilitating financial inclusion, whilst striving to maximise environmental benefits through green operations and processes in line with its triple bottom line focus.

Having established a high performance microfinance business model, LOLC rapidly exported its expertise to global markets such as Cambodia, Myanmar, Indonesia, Philippines, Pakistan, Zambia, Nigeria, Malawi, Tajikistan and Tanzania, bringing prosperity to people at the bottom of the pyramid. In addition, the Group has established its footprint in the Maldives, Mauritius and Sierra Leone in the arena of Non-Financial Services. 

LOLC has also been investing substantially in advanced technology platforms and digitalisation processes such as iPay. The LOLC Group continues on its accelerated growth trajectory and is inspired by the quest to nurture and shape the future of individuals and communities across the world.



https://www.ft.lk/front-page/LOLC-retains-top-spot-in-LMD-100-as-Most-Profitable-Listed-Entity-for-third-year/44-726505#.YZ8Ct3ipfcA.twitter

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