Lucky Strike

People's Leasing Co. Ltd has struck a deal with India's Ashok Leyland to import commercial vehicles for its customers. People's Leasing Co. Ltd has struck a deal with India's Ashok Leyland to import commercial vehicles for its customers. The one-year deal allows PLC to open letters of credit up to Rs.
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3 billion, the firm's Chief Executive D P Kumarage told LBO on Monday.
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"The facility will be mostly used to buy trucks and buses," Kumarage said.

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With a Rs. 19 billion portfolio, PLC is currently Sri Lanka's biggest leasing companies commanding a 19 percent market share.



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Besides offering traditional forms of leasing, PLC has carved a niche in the bus leasing business.

Since 1996, the firm has muscled its way into the vehicle importing business, bringing down some 5,000 buses in the process.

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"For a month, we import around 50-60 buses, mainly 52 seaters from India. We also import some cargo trucks," says Udesh Gunawardena, Deputy Manager (Finance).

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The import business however, does not dry up PLC's finances like other importers, as it finds ready buyers through its leasing business.

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"Buses

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