People’s Leasing & Finance PLC (PLC) tied up with Toyota Lanka for promoting Toyota vehicles recently. On behalf of PLC, Lionel Fernando and Laksanda Gunawardane (DGMs-Operations) and on behalf of Toyota Lanka Shungo Yoshioka (Managing Director), Manohara Atukorala (Director/COO) and Ashan De Silva (Head of Sales) participated at the signing of the MOU.
Under the leasing partnership, Toyota Lanka will offer customers special price discounts, free registration, a comprehensive 3 year/100,000km warranty and 3 free services (inclusive of labour and material). In return PLC offers Toyota customers a special interest rate & a lease period up to 5 years according to customers’ repayment capacity, a free full tank of fuel at the time of releasing the vehicle to the customer and Rs.2 million worth free life insurance cover for the vehicle owner. Promotions will be on till February 28, 2018. PLC was commissioned in 1995 as a wholly owned subsidiary of the biggest state bank in Sri Lanka, the People’s Bank. It is currently the market leader in the non-bank finance sector in Sri Lanka.
Fitch Rating Lanka has assigned PLC a credit rating of AA-(lka) which makes PLC the highest rated finance company in the country. PLC is the only Sri Lankan finance company to have two international ratings of which one is equal to the Sovereign from Standard & Poor’s (‘B+/B’) and the other is one notch below the Sovereign from Fitch Rating International (‘B’).