Bluestone 1 buys Melsta Regal Finance | Sunday Observer

Bluestone 1 buys Melsta Regal Finance

Ajit Gunawardene
Ajit Gunawardene

Bluestone 1, a subsidiary of Bluestone Capital, owned by Ajit Gunewardene acquired Melsta Regal Finance, a company owned by Melstacorp PLC, and it was renamed as Fintrex Finance.

Fintrex Finance is 100 percent owned by Bluestone 1 under a Board comprising Founder and Chairman Ajit Gunewardene, non-independent/non-executive directors Ronnie Peiris, Shantanu Nagpal, Mahendra Galgamuwa, Shivan Coorey, Keith Bernard and Shivanthi Atukorale.

At the re-branding ceremony, Gunewardene said that the name was coined from the words ‘financial entrepreneurs’ and ‘experts’, both of which describe Gunewardene’s business interests after retirement from John Keells Holdings.

According to Gunewardene, Sri Lanka has a growing economy with opportunities for entrepreneurship. The nation also has young, talented, next generation entrepreneurs, who, with some mentoring, can benefit untapped market segments. The finance industry in the country is evolving and will continue to evolve and will play a huge part in driving the national economy, which will translate to the rise of entrepreneurship, the future engine of economic growth.

“For one to benefit from the other, there is a vital requirement - financial assistance, and I believe that through Fintrex Finance, we can partner with these entrepreneurs who are mostly in the SME sector to tap into these entrepreneurial opportunities and build up a growing economy.

As entrepreneurs, we have the knowledge, the expertise and the financial backing that could help the new markets to succeed,” he said.

“I am conscious of the risks in the industry that is suffering from bad publicity.

To mitigate this, I, with my Board, have put together three pillars that will guide us, hold us responsible and protect our stakeholders,” Gunawardene said.

“Through our experience in the corporate environment, we bring in governance of the highest level to business. There will be transparency, effectiveness, efficiency, and accountability at all levels, and our 100 percent participation and responsiveness with no exceptions.”

“We have put in place tools, systems and processes to manage risks, technology to address efficacy, and the expertise to run the organisation. We have to ensure the right people with the right competencies in the right positions. Our intent is not growth at any cost but growth on a solid and reliable foundation,” he said.

“We offer attractive, well-structured compensation packages aligned to the industry. We also support and mentor our employees to get the best out of them,” Gunawardene said.

“We will create more entrepreneurs who are the future base of the economy. It is the small entrepreneur that will grow to be the future success of the nation,” he said.