LOLC, a diversified conglomerate, strengthens presence in the Asian market

LOLC, a diversified conglomerate, strengthens presence in the Asian market

28 December 2018 10:17 am

LOLC, one of the largest and most diversified conglomerates in the country is now strengthening its presence in the growing Asian market with the continuing of operations in Myanmar, Cambodia, Pakistan, Indonesia and the Philippines. 

The company also explores the possibility of launching its operations in India and Zambia while using strong fundamentals to enter into several other regional financial service markets.

Lanka Orix Leasing Company PLC (LOLC) has changed its name to LOLC Holdings PLC recently with the exit of Japan’s Orix Corporation in March 2018 after almost four decades.

It has diversified its portfolio from financial services and non-financial services to leisure, plantations, agri-inputs, renewable energy, construction as well as manufacturing and trading at present.

In line with the Group's diversification strategy, the company will open 160 roomed super five star hotel in Kosgoda in March next year in a tie up with Sheraton Group making a significant value addition to Sri Lanka’s leisure sector.

The Group is actively engaged in the construction sector through the Sierra Group, Trading and Manufacturing through the Browns Group and Asia Siyaka, Agriculture and Plantation through Maturata, Pussellawa, Gal-Oya and Agstar Fertilizers and the renewable energy sector through United Dendro and Hydro Power Free Lanka.

With a 63% increase in Group revenue reaching Rs. 150Bn, LOLC has evolved to become the Number 1 Financial Conglomerate in Sri Lanka in the recently released LMD 100 rankings. Having launched its operations in 1980 as a company with a sharp eye on the future and the ability of reading the times with accuracy, LOLC opened its doors to provide what was then Sri Lanka’s pioneer portfolio of leasing solutions to an eager market. 

After 38 years, LOLC has rapidly evolved into being the country’s biggest non-banking financial institution and one of the biggest and most diversified conglomerates in the country.