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Softlogic’s automobile arm to set up Rs.200mn facility in Pelawatta Vote_lcap68%Softlogic’s automobile arm to set up Rs.200mn facility in Pelawatta Vote_rcap 68% [ 178 ]
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FINANCIAL CHRONICLE™ » DAILY CHRONICLE™ » Softlogic’s automobile arm to set up Rs.200mn facility in Pelawatta

Softlogic’s automobile arm to set up Rs.200mn facility in Pelawatta

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Redbulls

Redbulls
Director - Equity Analytics
Director - Equity Analytics

Softlogic Holdings PLC’s auto subsidiary Future Automobiles (Pvt) Ltd, sole distributor for Ford Motor Company in Sri Lanka, is to set up a Rs.200 million sales and service facility in Pelawatta, an official stated.

“The new plant is a 3S facility where the sale, services and after sales services all will be carried out from one location and will offer the customers the best industry standards,” Future Automobiles Chief Operating Officer (COO), Sujeeva Premaratne said.

He added that in most developed countries like USA and England there are much better facilities for customers and those facilities will be made available to the local market as well.“With the new facility we are gearing to offer world class facilities to our customers,” Premaratne noted.

The new facility will be located about 500 meters away from the Parliament along Denzil Kobbakaduwa Mawatha, on a property of 125 perches. According to the COO, it would commence operations in November, 2013.

Funds for the project are being raised internally and Premaratne stated that Softlogic would be making a formal statement soon.

Future Automobiles will be staffing the facility with local technicians but the company would be getting down an engineer once a month from its regional office in Thailand to look in to the standards and also an engineer from the US will be visiting the site once a year. “Currently we have a staff of 25, sales and after sales. With the new facility in Pelawatta we will be creating an additional 25 employment opportunities. That would include technicians, service advisors and trainee technicians as well,” Premaratne noted.

A segmental analysis of Softlogic Holdings for the year ended March 31, 2013 revealed that revenue of the Automobile sector stood at Rs.689.2 million as against Rs.989.6 million during the previous year while operating profits for the year under review stood at Rs.33.6 million in contrast to Rs.112.8 million in 2012.
http://www.dailymirror.lk/business/other/31610-softlogics-automobile-arm-to-set-up-rs200mn-facility-in-pelawatta-.html

UKboy

UKboy
Senior Vice President - Equity Analytics
Senior Vice President - Equity Analytics

Ah right.
This is the most improtant thing SHL has to do at the moment.. since no other internal issues, investing on a Ford sales and service facility Errrrrr
pig

seek


Senior Manager - Equity Analytics
Senior Manager - Equity Analytics

Still I couldn’t find a valid reason to invest in this company.

SHL does not have real cash cow to rescue itself from the debt trap.

celtic tiger


Senior Manager - Equity Analytics
Senior Manager - Equity Analytics

Ford to gain it's former glory in coming years with US gover.. backing.they are investing heavily on green tech and fuel efficiency.SO this investment is a good one for the future of SHL(I think )
caution -I have a ford focus-2001 and I don't have any SHL in my port...but it' s in my watch list because I do believe Pathirage is a man with long term vision:) 

UKboy

UKboy
Senior Vice President - Equity Analytics
Senior Vice President - Equity Analytics

Even though Ford is doing good around the world, it is not a popular brand in Sri Lanka.
This investment may give them long term benefits but don’t they have plenty of short term issues to sort out?

SHL should understand why David Pieris got rid of Ford after such long in business. It was not a successful dealership.

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