Fairway Holdings acquires Multi Finance
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 strong 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, bio technology, 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 Diri Savi 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 the 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 public.