Sudarshan Seneratne of Lank Orix Factors presents the latest analysis of the Sri Lankan market
Market Performance and Supply Number of Players There are currently four companies engaged in factoring in Sri Lanka. LOFAC, which pioneered factoring in Sri Lanka, is the only company engaged in both domestic and export factoring. The other players in the market are Commercial Leasing Company Limited and Mercantile Leasing Limited, which are leasing companies, and Vanik Incorporation Limited, a merchant bank which has set up a factoring division. No new players entered the market during 1999/2000. The National Chamber of Exporters of Sri Lanka presented an award to LOFAC under the category of service providers to exporters. This is mainly a recognition of the pioneering efforts made by LOFAC in introducing export factoring to Sri Lanka. Only LOFAC and Vanik Incorporation offer export factoring services.
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