SlideShare a Scribd company logo
1 of 4
Download to read offline
NOTE FROM THE CEO
                CROSSING THE CHASM IN THE                                ISSUE 1          AUGUST         2009
                MAURITIAN LEASING
                INDUSTRY................ ......... 1




                   NEW PRODUCTS
                IJARAH FROM MAURITIUS
                LEASING – THE FIRST ISLAMIC
                LEASING SOLUTION ........... 2




                                                       Leasing
                  SPECIAL SME SCHEMES
                NEW LEASING SCHEMES FOR
                SME EQUIPMENT
                MODERNISATION ............... 4




    ADDRESSING THE NEEDS OF THE PRODUCTIVE SECTORS OF THE
      ECONOMY AND PLANTING THE SEEDS FOR FUTURE GROWTH     News
In 2009, Mauritius Leasing will have contributed 22 years of leasing expertise to Mauritius,
having pioneered this industry back in 1987 and being today the only listed leasing company
in the country. The company is constantly developing new and innovative products and
distribution channels which add value for the customer while minimizing operational costs



Crossing the Chasm in the
Mauritian Leasing Industry
James Allen, CEO
                                                                                                              James Allen, CEO of Mauritius Leasing
The leasing market in Mauritius is                     economic initiatives to revitalise the
characterized by increased competition and             economy which, we anticipate, will further
constant pressure on margins. With the                 benefit the Company and the Industry in the         In a crowded market like Mauritius, where
tighter regulatory framework, it is expected           future.                                             achieving critical mass can be a real
that the industry will see some consolidation          Leasing as an industry has been, in my view,        challenge, it is essential to have a balanced
in the near future as a result of the changing         under-valued. It is time we realized that           regulatory and fiscal framework that
landscape for leasing businesses in the                leasing can be equally, if not more effective       recognizes the risks and rewards associated
country.                                               than traditional banking at stimulating             with this business.
From its inception, Mauritius Leasing has              economic growth.
always been positive and forward looking.              Already, the Non-Bank Deposit Taking                Therefore, the leasing industry needs to
And indeed, with the new challenges being              Institutions, of which Leasing is a                 work closely with government and the
thrown into the market, we remain                      component, represent no less than MUR 30            regulators to provide the right environment
optimistic for the future.                             Billion in terms of assets and this is set to       to ensure this important growth instrument
The government has embarked on major                   grow even more in the years to come.                of the economy can compete effectively.




                                                       MARKET WATCH
                                                       Bank of Mauritius 364-day Treasury Bills closed at a weighted yield of 4.90% at the latest
                                                       auction on 24 July 2009. 182-day and 91-day bills respectively closed at 4.54% and 4.51% on
                                                       a weighted yield basis. The declining trend witnessed earlier during the year which seemed to
                                                       have bottomed out in the past weeks is still showing a slight declining trend.
                                                       The Repo Rate has been maintained at 5.75% since 22 June 2009, date of the last sitting of the      1
                                                       Monetary Policy Committee of the Bank of Mauritius.
Respecting Your Principles with a new                              SMARTER
                                                                                product designed to offer a new choice                             LEASING:
                                                                                previously unavailable to Mauritian
                                                                                customers.                                                       Experience vs.
                                                                                                                                                   Discipline
                                                                       Ijarah – Not a far
                                                                       away tale anymore!
    Linda Vithilingum, Head of Sales and Mr Nawaz Narod

   Harbouring a satisfied smile, Mr.                Ijarah was approved by a                        Ijarah works on the principle
   Nawaz Narod accepts the key of                   Shari’ah board supported by                     that Mauritius Leasing buys the
   a Hyundai Tucson from Mrs.                       local     and     Malaysia-based                asset (vehicle or equipment)
   Linda Vythilingum, Head of                       scholars who are fully versed in                which remains in its ownership
   Sales of Mauritius Leasing, at                   Islamic finance. Through Ijarah,                all throughout the lease period.             The core values of
   the Dealer’s showroom. Having                    ML expresses its continuing                     In exchange of the use of the                           .
                                                                                                                                                 Mauritius Leasing are
   the keys remitted in the hands of                commitment and innovative                       asset, the client pays a monthly             embedded in its tagline
   the client, with the vehicle ready               contribution to the Mauritian                   rent which serves to cover the
   to be on the road, is the one of                 leasing industry.                               cost of the asset and a                       “Leasing for Life”
   the core characteristics of                                                                      reasonable level of profit for the
   Mauritius      Leasing’s      new                Ijarah comes at an opportune                    owner of the asset.
   product, Ijarah - Islamic Leasing.               time when the government and
                                                                                                                                                 L.I.F.E represents the
                                                    the leasing industry are working                At the end of the rental period,
                                                                                                                                                 building   blocks    of
   Mauritius Leasing’s Ijarah is the                towards introducing property                    Mauritius Leasing offers an
                                                                                                                                                 Mauritius     Leasing’s
   first leasing product to lead the                leasing.                                        option for the client to purchase
                                                                                                                                                 approach and conduct
   way in the emerging Islamic                                                                      the asset at a nominal or token
                                                                                                                                                 with respect to its
   finance       environment        in                                                              price as part of a separate
                                                                                                                                                 business.
   Mauritius. Ijarah is an alternative                                                              contract of sale.
   to conventional leasing and it is
   the ultimate form of interest-free                                                               For more information, please
   asset-backed      financing.      It                                                             download the Ijarah product fact                  Leadership
   combines modern credit and                                                                       sheet online at our website on
   financing      techniques     with                                                               www.mauritiusleasing.com or                  Change is the essence
   traditional risk reward sharing                                                                  contact Mrs Linda Vithilingum,                of what it means to
   concepts and business ethics.                    This will be an added                           Head of Sales on 202-3700.                           lead.
                                                    opportunity for such customers
   Both Standard Ijarah (Operating                  (Muslims and non-Muslims) to                       Mauritius Leasing
                                                                                                       joins the MCIB                                 Innovation
   Lease) and Ijarah Muntahia                       acquire assets under an ethical
   Bittamleek (Finance Lease) are                   mode of financing which is                                                                       Innovation is the
   accessible to both individual and                compliant with their moral                         Since 1 May 2009, Mauritius
                                                                                                       Leasing together with the other
                                                                                                                                                  foundation of our past
   corporate customers and will be                  values.                                                                                         and the key to our
                                                                                                       leasing companies has joined
   applicable for medium to large                                                                      the      Mauritius       Credit                    future.
   ticket assets ranging from motor                 Islamic     Finance     principles                 Information Bureau operated by
   vehicles      to     sophisticated               require        Shari’ah-compliant                  the Bank of Mauritius. This was
   machinery.                                       products to be free from “riba”                    previously only available to                      Focus
                                                                                                       Banks.
                                                    (interest)       and         other
                                                    characteristics such as “gharar”                                                              Focus is the delivery
                                                                                                       The MCIB tracks individual and
                                                    (uncertainty).                                                                                 mechanism of our
                                                                                                       corporate exposure and payment
                                                                                                       performance. By law, all leasing                  vision.
                                                                                                       companies are required to report
                                The Mauritius Leasing Company Limited is a                             credit information included any
                                MUR 3Bn Asset Finance Company listed on                                non performing accounts (late
                                     the Stock Exchange of Mauritius.                                  by more than 90 days) through                Effectiveness
Leasing News                                                                                           the MCIB.
c/o The Mauritius Leasing            Latest Annual Report 2008 available online at                                                               Doing the right things,
     Company Limited                          www.mauritiusleasing.com
  3rd Floor, BAI Building
                                                                                                                                                 first time, every time.
 25 Pope Hennessy Street
         Port-Louis
       MAURITIUS
                            We would be delighted to obtain your feedback on this new publication. Please write to us on mleasing@ml.intnet.mu
                                    in case you would like to see some specific features or would like to opt out of the distribution list.
                                                                                                                                                                           2
ML VENDOR                                    Mauritius Leasing Sponsors
   PROGRAM:
 The fastest and easiest way                    the Mauritius Ocean Classic
         to close more sales
The ML Vendor Program is a new approach              Mauritius Leasing structures leasing
introduced by Mauritius Leasing for its              options tailored specially to meet the
Channel Partners. For equipment and                  needs of the vendor’s customers and
vehicle dealers, offering convenient leasing         provide a means to expedite the
terms is a proven way to demonstrate the             acquisition process. Mauritius Leasing
affordability of their products.                     brings together its financial strength
                                                     and a broad array of leasing
Successful equipment vendors and car                 alternatives with the objective of
dealers use the power of leasing to increase         remaining a long-term financing                        Hank MacGregor, winner of the race with
profitability in every proposal they make by         partner for both the vendor and the                Jean-Yves de Fleuriot, Relationship manager of ML
breaking down the sales price into easy-to-          client.                                           Mauritius Leasing sponsored the 1st
manage monthly payments. This approach                                                                 international ski-surf competition in
preserves profit margins by eliminating the          Mauritius     Leasing      Relationship           Mauritius which took place on 4-6 July
need to offer discounts or extended terms.           Managers initiate the Vendor Program              2009 at Le Morne. Through this
And by eliminating price objections, the             with the identified channel partner and           sponsorship,        Mauritius      Leasing
sales cycle can be shortened resulting in            work closely with the latter to develop           contributed to a contemporary sport
increased volume. For such companies                 marketing and sales approaches in line            which reflects its dynamism and
seeking an experienced financial partner,            with their marketing objectives, while            innovative capabilities. This event
Mauritius Leasing is the logical choice.             providing first-rate support and                  positioned Mauritius as an international
                                                     satisfaction.                                     destination for ski-surf competitions.
Mauritius Leasing is the market leader in
leasing solutions specializing in providing          For more information, download the
custom solutions for growing businesses.             Mauritius Leasing Vendor Program
Working together with its Channel Partners,          brochure online from our web site at
                                                     www.mauritiusleasing.com or contact
                                                     Chrystelle Douzet on 202-3700 for
                                                     more information and a preliminary
 Leasing News                                        discussion on your requirements.
 c/o The Mauritius Leasing
      Company Limited
   3rd Floor, BAI Building
  25 Pope Hennessy Street
          Port-Louis
        MAURITIUS                         The Mauritius Leasing Company Limited
                                                                                                                                                            3
                                           25 Pope Hennessy Street, Port-Louis Mauritius
                               Tel : +230 202 3700, Fax : +230 212 6456 email :mleasing@ml.intnet.mu
 
Leasing to support the SMEs with                                                                                                 SME
                                                                                                                             SCHEMES
Special Government Initiatives                                                                                            Timely and Affordable
The Ministry of Finance              Under the first scheme, SMEs          The equipment which are eligible                  Modernisation
working together with the Joint      will be able to obtain lease          under the scheme include the
Economic Council, the State          facilities based on an implicit       following:
Investment Corporation and the       rate of 8.5% per annum over a                                                          Low Contribution
Association      of    Leasing       period ranging from 3 to 7 years.     (a)   Agriculture, Agro Industrial,
                                                                                 Stone Crushing Concrete Plant,              A minimum initial
Companies have put together          The contribution of the SME to              Earthmoving, Land Preparation            payment of 10% or 15%
two special schemes targeted to      the cost of the asset will be as            and       Civil        Engineering         payment is required
Small and Medium Enterprises         low as 10% with 90% provided                Equipment                                  depending upon the
                                                                           (b)   Manufacturing and Industrial
based in Mauritius.                  by      the   leasing  company.             Equipment including Textile               scheme chosen by the
                                     Government through the SIC will             related,     Knitting,    Dyeing,                SME.
The objective is to provide          provide 30% guarantee on the                Washing,      Ironing,    Cutting,
                                                                                 Making, Packing and other                Competitive Pricing
assistance through a special         facility. The maximum lease                 textile equipment
finance leasing scheme to SMEs       facility that can be available by     (c)   Kitchen, Restaurant, Catering,             At 8.5% per annum,
towards      enhancing     their     any SME will be MUR 5m.                     Food & Hotel Industry related              these two schemes
competitiveness through the
                                                                                 equipment                                    represent a cost
                                                                           (d)   ICT,       Office       Equipment         effective financing for
modernisation       of     their     Under the second scheme, SMEs               including       light     printing
                                                                                 equipment                                   Small Businesses.
production processes with a          which have a turnover of up to
                                                                           (e)   Heavy Duty Printing Press
view to prepare them to bounce       MUR 150m will be able to obtain             Equipment
back once the global economic        lease facilities based on an          (f)   Seafood Processing, Cold Room              Fast Turnaround
downturn is over. The scheme is      implicit rate of 8.5% per annum             & Refrigeration Equipment                Mauritius Leasing makes
                                                                           (g)   Fishing and Boat House
expected to run as from August       over a period of 3 to 7 years. The          Equipment                                is easy for you to benefit
2009 until 31 December 2009.         contribution of the SME to the        (h)   Utility Vehicles, trucks and             from these schemes in a
                                     cost of the asset will be as low as         trailers                                        short time.
                                                                           (i)   Other Small Industrial or
Two schemes have been                15% with 85% provided by the                Specialised Equipments
designed for the following:          leasing company. Government
(a)   SMEs with turnover less than   through the SIC will provide          All facilities are subject to terms
      MUR 50m                        15% guarantee on the facility.        and conditions as may be
(b)   SMEs with turnover less than   The maximum lease facility that       applicable to the application
      MUR 150m                       can be available by any SME will      submitted by the SME. Usual
                                     be MUR 15m.                           processing and registration fees
                                                                           apply.


                                 For more information and assistance on the Special SME Leasing
Leasing News                     Scheme, Please contact our Relationship Managers:
c/o The Mauritius Leasing
     Company Limited             Angelo Bussier      945-2631 Clothilde De Fondaumiere          257-9315
  3rd Floor, BAI Building
 25 Pope Hennessy Street
                                 David Athaw
                                 Kemla Rajah Gopal
                                                     258-2899 Jean-Yves De Fleuriot
                                                     256-7869
                                                                                                251-5885
                                                                                                                                                     4
         Port-Louis
       MAURITIUS

More Related Content

What's hot

Advertising and Sales Promotion
Advertising and Sales PromotionAdvertising and Sales Promotion
Advertising and Sales PromotionAkash Pandey
 
Takaful presentation by muhammad ashfaq
Takaful presentation by muhammad ashfaqTakaful presentation by muhammad ashfaq
Takaful presentation by muhammad ashfaqasfhaq
 
Takaful industry in Pakistan,GCC & Malaysia: Growth Challenges & future Prosp...
Takaful industry in Pakistan,GCC & Malaysia: Growth Challenges & future Prosp...Takaful industry in Pakistan,GCC & Malaysia: Growth Challenges & future Prosp...
Takaful industry in Pakistan,GCC & Malaysia: Growth Challenges & future Prosp...Aamer Rahim
 
Islamic Banking and Takaful in Malaysia
Islamic Banking and Takaful in MalaysiaIslamic Banking and Takaful in Malaysia
Islamic Banking and Takaful in Malaysiasurrenderyourthrone
 
project on Takaful
project on Takafulproject on Takaful
project on Takafulsana12162
 
Omega Insurance Brokering Company analysis
Omega Insurance Brokering Company analysis Omega Insurance Brokering Company analysis
Omega Insurance Brokering Company analysis Sebin Sebastian
 
Insurance sector advertising
Insurance sector advertisingInsurance sector advertising
Insurance sector advertisingOwais Ashraf
 
An overview of takaful in malaysia.121412.final
An overview of takaful in malaysia.121412.finalAn overview of takaful in malaysia.121412.final
An overview of takaful in malaysia.121412.finalMace Abdullah
 
Takaful orienataion - Qatar 01-03-2014
Takaful orienataion -  Qatar 01-03-2014Takaful orienataion -  Qatar 01-03-2014
Takaful orienataion - Qatar 01-03-2014Ahmed Pervaiz
 
The Treatment of Qard in Takaful (short version)
The Treatment of Qard in Takaful (short version) The Treatment of Qard in Takaful (short version)
The Treatment of Qard in Takaful (short version) Camille Silla Paldi
 
Takaful insurance (world bank)
Takaful insurance (world bank)Takaful insurance (world bank)
Takaful insurance (world bank)Haythem Dridi
 
Islamic Life Insurance
Islamic Life InsuranceIslamic Life Insurance
Islamic Life InsuranceISEConsult
 
Potential of takaful in pakistan
Potential of takaful in pakistanPotential of takaful in pakistan
Potential of takaful in pakistanAbdul Wahab
 

What's hot (20)

Final takaful
Final takafulFinal takaful
Final takaful
 
Advertising and Sales Promotion
Advertising and Sales PromotionAdvertising and Sales Promotion
Advertising and Sales Promotion
 
Takaful presentation by muhammad ashfaq
Takaful presentation by muhammad ashfaqTakaful presentation by muhammad ashfaq
Takaful presentation by muhammad ashfaq
 
Takaful industry in Pakistan,GCC & Malaysia: Growth Challenges & future Prosp...
Takaful industry in Pakistan,GCC & Malaysia: Growth Challenges & future Prosp...Takaful industry in Pakistan,GCC & Malaysia: Growth Challenges & future Prosp...
Takaful industry in Pakistan,GCC & Malaysia: Growth Challenges & future Prosp...
 
Islamic Banking and Takaful in Malaysia
Islamic Banking and Takaful in MalaysiaIslamic Banking and Takaful in Malaysia
Islamic Banking and Takaful in Malaysia
 
project on Takaful
project on Takafulproject on Takaful
project on Takaful
 
Omega Insurance Brokering Company analysis
Omega Insurance Brokering Company analysis Omega Insurance Brokering Company analysis
Omega Insurance Brokering Company analysis
 
Insurance sector advertising
Insurance sector advertisingInsurance sector advertising
Insurance sector advertising
 
An overview of takaful in malaysia.121412.final
An overview of takaful in malaysia.121412.finalAn overview of takaful in malaysia.121412.final
An overview of takaful in malaysia.121412.final
 
Takaful
TakafulTakaful
Takaful
 
takaful
takafultakaful
takaful
 
Takaful presentation
Takaful presentationTakaful presentation
Takaful presentation
 
Takaful orienataion - Qatar 01-03-2014
Takaful orienataion -  Qatar 01-03-2014Takaful orienataion -  Qatar 01-03-2014
Takaful orienataion - Qatar 01-03-2014
 
takaful
takafultakaful
takaful
 
Insurance Vs Islamic Insurance(takaful)
Insurance Vs Islamic Insurance(takaful)Insurance Vs Islamic Insurance(takaful)
Insurance Vs Islamic Insurance(takaful)
 
The Treatment of Qard in Takaful (short version)
The Treatment of Qard in Takaful (short version) The Treatment of Qard in Takaful (short version)
The Treatment of Qard in Takaful (short version)
 
Takaful insurance (world bank)
Takaful insurance (world bank)Takaful insurance (world bank)
Takaful insurance (world bank)
 
Islamic Life Insurance
Islamic Life InsuranceIslamic Life Insurance
Islamic Life Insurance
 
Potential of takaful in pakistan
Potential of takaful in pakistanPotential of takaful in pakistan
Potential of takaful in pakistan
 
Takaful
TakafulTakaful
Takaful
 

Similar to Leasing News - August 2009

Franchise news malaysia
Franchise news malaysiaFranchise news malaysia
Franchise news malaysiaasstsabintang
 
Magma Investor Presentation Q2 FY12
Magma Investor Presentation Q2 FY12Magma Investor Presentation Q2 FY12
Magma Investor Presentation Q2 FY12AtulTibrewal
 
Ijarah : Implementing Islamic Financial Principles In The Mauritius Leasing I...
Ijarah : Implementing Islamic Financial Principles In The Mauritius Leasing I...Ijarah : Implementing Islamic Financial Principles In The Mauritius Leasing I...
Ijarah : Implementing Islamic Financial Principles In The Mauritius Leasing I...Ashraf Esmael
 
Ircm Bowline E Zine
Ircm Bowline E ZineIrcm Bowline E Zine
Ircm Bowline E ZineMarkElcocks
 
“STRESS MANAGEMENT” IN ICICI BANK
“STRESS MANAGEMENT” IN ICICI BANK“STRESS MANAGEMENT” IN ICICI BANK
“STRESS MANAGEMENT” IN ICICI BANKBabasab Patil
 
Be a part of mortgage and finance industry
Be a part of mortgage and finance industry Be a part of mortgage and finance industry
Be a part of mortgage and finance industry Daniel Paci
 
10Contents Acknowledgment………………………………………………………….docx
10Contents Acknowledgment………………………………………………………….docx10Contents Acknowledgment………………………………………………………….docx
10Contents Acknowledgment………………………………………………………….docxpaynetawnya
 
Xuber Company Overview
Xuber Company OverviewXuber Company Overview
Xuber Company OverviewXuber
 
Investment Management – a creator of value in an insurance company
Investment Management – a creator of value in an insurance companyInvestment Management – a creator of value in an insurance company
Investment Management – a creator of value in an insurance companyFelix Schlumpf
 
Apresentação institucional eng (pp tminimizer)
Apresentação institucional eng (pp tminimizer)Apresentação institucional eng (pp tminimizer)
Apresentação institucional eng (pp tminimizer)Localiza
 
Frontiers in finance magazine - February 2012
Frontiers in finance magazine - February 2012Frontiers in finance magazine - February 2012
Frontiers in finance magazine - February 2012Tina Vandenbosch
 
Misys Capital Markets Brochure 1-27-12
Misys Capital Markets Brochure 1-27-12Misys Capital Markets Brochure 1-27-12
Misys Capital Markets Brochure 1-27-12Mike Higgins
 
Askari leasing limited multan
Askari leasing limited multanAskari leasing limited multan
Askari leasing limited multanjoiyalove
 
ADC Life Insurance
ADC Life InsuranceADC Life Insurance
ADC Life InsuranceAhmar Hasan
 
Role And Challenges In Insurance
Role And Challenges In InsuranceRole And Challenges In Insurance
Role And Challenges In InsuranceShrivar Pandey
 

Similar to Leasing News - August 2009 (20)

Franchise news malaysia
Franchise news malaysiaFranchise news malaysia
Franchise news malaysia
 
Magma Investor Presentation Q2 FY12
Magma Investor Presentation Q2 FY12Magma Investor Presentation Q2 FY12
Magma Investor Presentation Q2 FY12
 
Kurnia
KurniaKurnia
Kurnia
 
Ijarah : Implementing Islamic Financial Principles In The Mauritius Leasing I...
Ijarah : Implementing Islamic Financial Principles In The Mauritius Leasing I...Ijarah : Implementing Islamic Financial Principles In The Mauritius Leasing I...
Ijarah : Implementing Islamic Financial Principles In The Mauritius Leasing I...
 
African finance
African financeAfrican finance
African finance
 
Nbfc in india
Nbfc in indiaNbfc in india
Nbfc in india
 
Ircm Bowline E Zine
Ircm Bowline E ZineIrcm Bowline E Zine
Ircm Bowline E Zine
 
“STRESS MANAGEMENT” IN ICICI BANK
“STRESS MANAGEMENT” IN ICICI BANK“STRESS MANAGEMENT” IN ICICI BANK
“STRESS MANAGEMENT” IN ICICI BANK
 
Be a part of mortgage and finance industry
Be a part of mortgage and finance industry Be a part of mortgage and finance industry
Be a part of mortgage and finance industry
 
10Contents Acknowledgment………………………………………………………….docx
10Contents Acknowledgment………………………………………………………….docx10Contents Acknowledgment………………………………………………………….docx
10Contents Acknowledgment………………………………………………………….docx
 
Xuber Company Overview
Xuber Company OverviewXuber Company Overview
Xuber Company Overview
 
FINANCE LEASE AS A SOURCE OF PROJECT FINANCE_
FINANCE LEASE AS A SOURCE OF PROJECT FINANCE_FINANCE LEASE AS A SOURCE OF PROJECT FINANCE_
FINANCE LEASE AS A SOURCE OF PROJECT FINANCE_
 
Re takaful - A Reality Check
Re takaful - A Reality CheckRe takaful - A Reality Check
Re takaful - A Reality Check
 
Investment Management – a creator of value in an insurance company
Investment Management – a creator of value in an insurance companyInvestment Management – a creator of value in an insurance company
Investment Management – a creator of value in an insurance company
 
Apresentação institucional eng (pp tminimizer)
Apresentação institucional eng (pp tminimizer)Apresentação institucional eng (pp tminimizer)
Apresentação institucional eng (pp tminimizer)
 
Frontiers in finance magazine - February 2012
Frontiers in finance magazine - February 2012Frontiers in finance magazine - February 2012
Frontiers in finance magazine - February 2012
 
Misys Capital Markets Brochure 1-27-12
Misys Capital Markets Brochure 1-27-12Misys Capital Markets Brochure 1-27-12
Misys Capital Markets Brochure 1-27-12
 
Askari leasing limited multan
Askari leasing limited multanAskari leasing limited multan
Askari leasing limited multan
 
ADC Life Insurance
ADC Life InsuranceADC Life Insurance
ADC Life Insurance
 
Role And Challenges In Insurance
Role And Challenges In InsuranceRole And Challenges In Insurance
Role And Challenges In Insurance
 

Recently uploaded

Appkodes Tinder Clone Script with Customisable Solutions.pptx
Appkodes Tinder Clone Script with Customisable Solutions.pptxAppkodes Tinder Clone Script with Customisable Solutions.pptx
Appkodes Tinder Clone Script with Customisable Solutions.pptxappkodes
 
20200128 Ethical by Design - Whitepaper.pdf
20200128 Ethical by Design - Whitepaper.pdf20200128 Ethical by Design - Whitepaper.pdf
20200128 Ethical by Design - Whitepaper.pdfChris Skinner
 
How To Simplify Your Scheduling with AI Calendarfly The Hassle-Free Online Bo...
How To Simplify Your Scheduling with AI Calendarfly The Hassle-Free Online Bo...How To Simplify Your Scheduling with AI Calendarfly The Hassle-Free Online Bo...
How To Simplify Your Scheduling with AI Calendarfly The Hassle-Free Online Bo...SOFTTECHHUB
 
Pitch Deck Teardown: Xpanceo's $40M Seed deck
Pitch Deck Teardown: Xpanceo's $40M Seed deckPitch Deck Teardown: Xpanceo's $40M Seed deck
Pitch Deck Teardown: Xpanceo's $40M Seed deckHajeJanKamps
 
Darshan Hiranandani [News About Next CEO].pdf
Darshan Hiranandani [News About Next CEO].pdfDarshan Hiranandani [News About Next CEO].pdf
Darshan Hiranandani [News About Next CEO].pdfShashank Mehta
 
Psychic Reading | Spiritual Guidance – Astro Ganesh Ji
Psychic Reading | Spiritual Guidance – Astro Ganesh JiPsychic Reading | Spiritual Guidance – Astro Ganesh Ji
Psychic Reading | Spiritual Guidance – Astro Ganesh Jiastral oracle
 
Horngren’s Financial & Managerial Accounting, 7th edition by Miller-Nobles so...
Horngren’s Financial & Managerial Accounting, 7th edition by Miller-Nobles so...Horngren’s Financial & Managerial Accounting, 7th edition by Miller-Nobles so...
Horngren’s Financial & Managerial Accounting, 7th edition by Miller-Nobles so...ssuserf63bd7
 
Cyber Security Training in Office Environment
Cyber Security Training in Office EnvironmentCyber Security Training in Office Environment
Cyber Security Training in Office Environmentelijahj01012
 
EUDR Info Meeting Ethiopian coffee exporters
EUDR Info Meeting Ethiopian coffee exportersEUDR Info Meeting Ethiopian coffee exporters
EUDR Info Meeting Ethiopian coffee exportersPeter Horsten
 
Environmental Impact Of Rotary Screw Compressors
Environmental Impact Of Rotary Screw CompressorsEnvironmental Impact Of Rotary Screw Compressors
Environmental Impact Of Rotary Screw Compressorselgieurope
 
Fordham -How effective decision-making is within the IT department - Analysis...
Fordham -How effective decision-making is within the IT department - Analysis...Fordham -How effective decision-making is within the IT department - Analysis...
Fordham -How effective decision-making is within the IT department - Analysis...Peter Ward
 
1911 Gold Corporate Presentation Apr 2024.pdf
1911 Gold Corporate Presentation Apr 2024.pdf1911 Gold Corporate Presentation Apr 2024.pdf
1911 Gold Corporate Presentation Apr 2024.pdfShaun Heinrichs
 
Welding Electrode Making Machine By Deccan Dynamics
Welding Electrode Making Machine By Deccan DynamicsWelding Electrode Making Machine By Deccan Dynamics
Welding Electrode Making Machine By Deccan DynamicsIndiaMART InterMESH Limited
 
How Generative AI Is Transforming Your Business | Byond Growth Insights | Apr...
How Generative AI Is Transforming Your Business | Byond Growth Insights | Apr...How Generative AI Is Transforming Your Business | Byond Growth Insights | Apr...
How Generative AI Is Transforming Your Business | Byond Growth Insights | Apr...Hector Del Castillo, CPM, CPMM
 
Effective Strategies for Maximizing Your Profit When Selling Gold Jewelry
Effective Strategies for Maximizing Your Profit When Selling Gold JewelryEffective Strategies for Maximizing Your Profit When Selling Gold Jewelry
Effective Strategies for Maximizing Your Profit When Selling Gold JewelryWhittensFineJewelry1
 
NAB Show Exhibitor List 2024 - Exhibitors Data
NAB Show Exhibitor List 2024 - Exhibitors DataNAB Show Exhibitor List 2024 - Exhibitors Data
NAB Show Exhibitor List 2024 - Exhibitors DataExhibitors Data
 
Introducing the Analogic framework for business planning applications
Introducing the Analogic framework for business planning applicationsIntroducing the Analogic framework for business planning applications
Introducing the Analogic framework for business planning applicationsKnowledgeSeed
 
WSMM Technology February.March Newsletter_vF.pdf
WSMM Technology February.March Newsletter_vF.pdfWSMM Technology February.March Newsletter_vF.pdf
WSMM Technology February.March Newsletter_vF.pdfJamesConcepcion7
 

Recently uploaded (20)

Appkodes Tinder Clone Script with Customisable Solutions.pptx
Appkodes Tinder Clone Script with Customisable Solutions.pptxAppkodes Tinder Clone Script with Customisable Solutions.pptx
Appkodes Tinder Clone Script with Customisable Solutions.pptx
 
20200128 Ethical by Design - Whitepaper.pdf
20200128 Ethical by Design - Whitepaper.pdf20200128 Ethical by Design - Whitepaper.pdf
20200128 Ethical by Design - Whitepaper.pdf
 
How To Simplify Your Scheduling with AI Calendarfly The Hassle-Free Online Bo...
How To Simplify Your Scheduling with AI Calendarfly The Hassle-Free Online Bo...How To Simplify Your Scheduling with AI Calendarfly The Hassle-Free Online Bo...
How To Simplify Your Scheduling with AI Calendarfly The Hassle-Free Online Bo...
 
WAM Corporate Presentation April 12 2024.pdf
WAM Corporate Presentation April 12 2024.pdfWAM Corporate Presentation April 12 2024.pdf
WAM Corporate Presentation April 12 2024.pdf
 
Pitch Deck Teardown: Xpanceo's $40M Seed deck
Pitch Deck Teardown: Xpanceo's $40M Seed deckPitch Deck Teardown: Xpanceo's $40M Seed deck
Pitch Deck Teardown: Xpanceo's $40M Seed deck
 
Darshan Hiranandani [News About Next CEO].pdf
Darshan Hiranandani [News About Next CEO].pdfDarshan Hiranandani [News About Next CEO].pdf
Darshan Hiranandani [News About Next CEO].pdf
 
Psychic Reading | Spiritual Guidance – Astro Ganesh Ji
Psychic Reading | Spiritual Guidance – Astro Ganesh JiPsychic Reading | Spiritual Guidance – Astro Ganesh Ji
Psychic Reading | Spiritual Guidance – Astro Ganesh Ji
 
Horngren’s Financial & Managerial Accounting, 7th edition by Miller-Nobles so...
Horngren’s Financial & Managerial Accounting, 7th edition by Miller-Nobles so...Horngren’s Financial & Managerial Accounting, 7th edition by Miller-Nobles so...
Horngren’s Financial & Managerial Accounting, 7th edition by Miller-Nobles so...
 
Cyber Security Training in Office Environment
Cyber Security Training in Office EnvironmentCyber Security Training in Office Environment
Cyber Security Training in Office Environment
 
EUDR Info Meeting Ethiopian coffee exporters
EUDR Info Meeting Ethiopian coffee exportersEUDR Info Meeting Ethiopian coffee exporters
EUDR Info Meeting Ethiopian coffee exporters
 
Environmental Impact Of Rotary Screw Compressors
Environmental Impact Of Rotary Screw CompressorsEnvironmental Impact Of Rotary Screw Compressors
Environmental Impact Of Rotary Screw Compressors
 
Fordham -How effective decision-making is within the IT department - Analysis...
Fordham -How effective decision-making is within the IT department - Analysis...Fordham -How effective decision-making is within the IT department - Analysis...
Fordham -How effective decision-making is within the IT department - Analysis...
 
1911 Gold Corporate Presentation Apr 2024.pdf
1911 Gold Corporate Presentation Apr 2024.pdf1911 Gold Corporate Presentation Apr 2024.pdf
1911 Gold Corporate Presentation Apr 2024.pdf
 
Welding Electrode Making Machine By Deccan Dynamics
Welding Electrode Making Machine By Deccan DynamicsWelding Electrode Making Machine By Deccan Dynamics
Welding Electrode Making Machine By Deccan Dynamics
 
How Generative AI Is Transforming Your Business | Byond Growth Insights | Apr...
How Generative AI Is Transforming Your Business | Byond Growth Insights | Apr...How Generative AI Is Transforming Your Business | Byond Growth Insights | Apr...
How Generative AI Is Transforming Your Business | Byond Growth Insights | Apr...
 
Effective Strategies for Maximizing Your Profit When Selling Gold Jewelry
Effective Strategies for Maximizing Your Profit When Selling Gold JewelryEffective Strategies for Maximizing Your Profit When Selling Gold Jewelry
Effective Strategies for Maximizing Your Profit When Selling Gold Jewelry
 
The Bizz Quiz-E-Summit-E-Cell-IITPatna.pptx
The Bizz Quiz-E-Summit-E-Cell-IITPatna.pptxThe Bizz Quiz-E-Summit-E-Cell-IITPatna.pptx
The Bizz Quiz-E-Summit-E-Cell-IITPatna.pptx
 
NAB Show Exhibitor List 2024 - Exhibitors Data
NAB Show Exhibitor List 2024 - Exhibitors DataNAB Show Exhibitor List 2024 - Exhibitors Data
NAB Show Exhibitor List 2024 - Exhibitors Data
 
Introducing the Analogic framework for business planning applications
Introducing the Analogic framework for business planning applicationsIntroducing the Analogic framework for business planning applications
Introducing the Analogic framework for business planning applications
 
WSMM Technology February.March Newsletter_vF.pdf
WSMM Technology February.March Newsletter_vF.pdfWSMM Technology February.March Newsletter_vF.pdf
WSMM Technology February.March Newsletter_vF.pdf
 

Leasing News - August 2009

  • 1. NOTE FROM THE CEO CROSSING THE CHASM IN THE ISSUE 1 AUGUST 2009 MAURITIAN LEASING INDUSTRY................ ......... 1 NEW PRODUCTS IJARAH FROM MAURITIUS LEASING – THE FIRST ISLAMIC LEASING SOLUTION ........... 2 Leasing SPECIAL SME SCHEMES NEW LEASING SCHEMES FOR SME EQUIPMENT MODERNISATION ............... 4 ADDRESSING THE NEEDS OF THE PRODUCTIVE SECTORS OF THE ECONOMY AND PLANTING THE SEEDS FOR FUTURE GROWTH News In 2009, Mauritius Leasing will have contributed 22 years of leasing expertise to Mauritius, having pioneered this industry back in 1987 and being today the only listed leasing company in the country. The company is constantly developing new and innovative products and distribution channels which add value for the customer while minimizing operational costs Crossing the Chasm in the Mauritian Leasing Industry James Allen, CEO James Allen, CEO of Mauritius Leasing The leasing market in Mauritius is economic initiatives to revitalise the characterized by increased competition and economy which, we anticipate, will further constant pressure on margins. With the benefit the Company and the Industry in the In a crowded market like Mauritius, where tighter regulatory framework, it is expected future. achieving critical mass can be a real that the industry will see some consolidation Leasing as an industry has been, in my view, challenge, it is essential to have a balanced in the near future as a result of the changing under-valued. It is time we realized that regulatory and fiscal framework that landscape for leasing businesses in the leasing can be equally, if not more effective recognizes the risks and rewards associated country. than traditional banking at stimulating with this business. From its inception, Mauritius Leasing has economic growth. always been positive and forward looking. Already, the Non-Bank Deposit Taking Therefore, the leasing industry needs to And indeed, with the new challenges being Institutions, of which Leasing is a work closely with government and the thrown into the market, we remain component, represent no less than MUR 30 regulators to provide the right environment optimistic for the future. Billion in terms of assets and this is set to to ensure this important growth instrument The government has embarked on major grow even more in the years to come. of the economy can compete effectively. MARKET WATCH Bank of Mauritius 364-day Treasury Bills closed at a weighted yield of 4.90% at the latest auction on 24 July 2009. 182-day and 91-day bills respectively closed at 4.54% and 4.51% on a weighted yield basis. The declining trend witnessed earlier during the year which seemed to have bottomed out in the past weeks is still showing a slight declining trend. The Repo Rate has been maintained at 5.75% since 22 June 2009, date of the last sitting of the 1 Monetary Policy Committee of the Bank of Mauritius.
  • 2. Respecting Your Principles with a new SMARTER product designed to offer a new choice LEASING: previously unavailable to Mauritian customers. Experience vs. Discipline Ijarah – Not a far away tale anymore! Linda Vithilingum, Head of Sales and Mr Nawaz Narod Harbouring a satisfied smile, Mr. Ijarah was approved by a Ijarah works on the principle Nawaz Narod accepts the key of Shari’ah board supported by that Mauritius Leasing buys the a Hyundai Tucson from Mrs. local and Malaysia-based asset (vehicle or equipment) Linda Vythilingum, Head of scholars who are fully versed in which remains in its ownership Sales of Mauritius Leasing, at Islamic finance. Through Ijarah, all throughout the lease period. The core values of the Dealer’s showroom. Having ML expresses its continuing In exchange of the use of the . Mauritius Leasing are the keys remitted in the hands of commitment and innovative asset, the client pays a monthly embedded in its tagline the client, with the vehicle ready contribution to the Mauritian rent which serves to cover the to be on the road, is the one of leasing industry. cost of the asset and a “Leasing for Life” the core characteristics of reasonable level of profit for the Mauritius Leasing’s new Ijarah comes at an opportune owner of the asset. product, Ijarah - Islamic Leasing. time when the government and L.I.F.E represents the the leasing industry are working At the end of the rental period, building blocks of Mauritius Leasing’s Ijarah is the towards introducing property Mauritius Leasing offers an Mauritius Leasing’s first leasing product to lead the leasing. option for the client to purchase approach and conduct way in the emerging Islamic the asset at a nominal or token with respect to its finance environment in price as part of a separate business. Mauritius. Ijarah is an alternative contract of sale. to conventional leasing and it is the ultimate form of interest-free For more information, please asset-backed financing. It download the Ijarah product fact Leadership combines modern credit and sheet online at our website on financing techniques with www.mauritiusleasing.com or Change is the essence traditional risk reward sharing contact Mrs Linda Vithilingum, of what it means to concepts and business ethics. This will be an added Head of Sales on 202-3700. lead. opportunity for such customers Both Standard Ijarah (Operating (Muslims and non-Muslims) to Mauritius Leasing joins the MCIB Innovation Lease) and Ijarah Muntahia acquire assets under an ethical Bittamleek (Finance Lease) are mode of financing which is Innovation is the accessible to both individual and compliant with their moral Since 1 May 2009, Mauritius Leasing together with the other foundation of our past corporate customers and will be values. and the key to our leasing companies has joined applicable for medium to large the Mauritius Credit future. ticket assets ranging from motor Islamic Finance principles Information Bureau operated by vehicles to sophisticated require Shari’ah-compliant the Bank of Mauritius. This was machinery. products to be free from “riba” previously only available to Focus Banks. (interest) and other characteristics such as “gharar” Focus is the delivery The MCIB tracks individual and (uncertainty). mechanism of our corporate exposure and payment performance. By law, all leasing vision. companies are required to report The Mauritius Leasing Company Limited is a credit information included any MUR 3Bn Asset Finance Company listed on non performing accounts (late the Stock Exchange of Mauritius. by more than 90 days) through Effectiveness Leasing News the MCIB. c/o The Mauritius Leasing Latest Annual Report 2008 available online at Doing the right things, Company Limited www.mauritiusleasing.com 3rd Floor, BAI Building first time, every time. 25 Pope Hennessy Street Port-Louis MAURITIUS We would be delighted to obtain your feedback on this new publication. Please write to us on mleasing@ml.intnet.mu in case you would like to see some specific features or would like to opt out of the distribution list. 2
  • 3. ML VENDOR Mauritius Leasing Sponsors PROGRAM: The fastest and easiest way the Mauritius Ocean Classic to close more sales The ML Vendor Program is a new approach Mauritius Leasing structures leasing introduced by Mauritius Leasing for its options tailored specially to meet the Channel Partners. For equipment and needs of the vendor’s customers and vehicle dealers, offering convenient leasing provide a means to expedite the terms is a proven way to demonstrate the acquisition process. Mauritius Leasing affordability of their products. brings together its financial strength and a broad array of leasing Successful equipment vendors and car alternatives with the objective of dealers use the power of leasing to increase remaining a long-term financing Hank MacGregor, winner of the race with profitability in every proposal they make by partner for both the vendor and the Jean-Yves de Fleuriot, Relationship manager of ML breaking down the sales price into easy-to- client. Mauritius Leasing sponsored the 1st manage monthly payments. This approach international ski-surf competition in preserves profit margins by eliminating the Mauritius Leasing Relationship Mauritius which took place on 4-6 July need to offer discounts or extended terms. Managers initiate the Vendor Program 2009 at Le Morne. Through this And by eliminating price objections, the with the identified channel partner and sponsorship, Mauritius Leasing sales cycle can be shortened resulting in work closely with the latter to develop contributed to a contemporary sport increased volume. For such companies marketing and sales approaches in line which reflects its dynamism and seeking an experienced financial partner, with their marketing objectives, while innovative capabilities. This event Mauritius Leasing is the logical choice. providing first-rate support and positioned Mauritius as an international satisfaction. destination for ski-surf competitions. Mauritius Leasing is the market leader in leasing solutions specializing in providing For more information, download the custom solutions for growing businesses. Mauritius Leasing Vendor Program Working together with its Channel Partners, brochure online from our web site at www.mauritiusleasing.com or contact Chrystelle Douzet on 202-3700 for more information and a preliminary Leasing News discussion on your requirements. c/o The Mauritius Leasing Company Limited 3rd Floor, BAI Building 25 Pope Hennessy Street Port-Louis MAURITIUS The Mauritius Leasing Company Limited 3 25 Pope Hennessy Street, Port-Louis Mauritius Tel : +230 202 3700, Fax : +230 212 6456 email :mleasing@ml.intnet.mu
  • 4.   Leasing to support the SMEs with SME SCHEMES Special Government Initiatives Timely and Affordable The Ministry of Finance Under the first scheme, SMEs The equipment which are eligible Modernisation working together with the Joint will be able to obtain lease under the scheme include the Economic Council, the State facilities based on an implicit following: Investment Corporation and the rate of 8.5% per annum over a Low Contribution Association of Leasing period ranging from 3 to 7 years. (a) Agriculture, Agro Industrial, Stone Crushing Concrete Plant, A minimum initial Companies have put together The contribution of the SME to Earthmoving, Land Preparation payment of 10% or 15% two special schemes targeted to the cost of the asset will be as and Civil Engineering payment is required Small and Medium Enterprises low as 10% with 90% provided Equipment depending upon the (b) Manufacturing and Industrial based in Mauritius. by the leasing company. Equipment including Textile scheme chosen by the Government through the SIC will related, Knitting, Dyeing, SME. The objective is to provide provide 30% guarantee on the Washing, Ironing, Cutting, Making, Packing and other Competitive Pricing assistance through a special facility. The maximum lease textile equipment finance leasing scheme to SMEs facility that can be available by (c) Kitchen, Restaurant, Catering, At 8.5% per annum, towards enhancing their any SME will be MUR 5m. Food & Hotel Industry related these two schemes competitiveness through the equipment represent a cost (d) ICT, Office Equipment effective financing for modernisation of their Under the second scheme, SMEs including light printing equipment Small Businesses. production processes with a which have a turnover of up to (e) Heavy Duty Printing Press view to prepare them to bounce MUR 150m will be able to obtain Equipment back once the global economic lease facilities based on an (f) Seafood Processing, Cold Room Fast Turnaround downturn is over. The scheme is implicit rate of 8.5% per annum & Refrigeration Equipment Mauritius Leasing makes (g) Fishing and Boat House expected to run as from August over a period of 3 to 7 years. The Equipment is easy for you to benefit 2009 until 31 December 2009. contribution of the SME to the (h) Utility Vehicles, trucks and from these schemes in a cost of the asset will be as low as trailers short time. (i) Other Small Industrial or Two schemes have been 15% with 85% provided by the Specialised Equipments designed for the following: leasing company. Government (a) SMEs with turnover less than through the SIC will provide All facilities are subject to terms MUR 50m 15% guarantee on the facility. and conditions as may be (b) SMEs with turnover less than The maximum lease facility that applicable to the application MUR 150m can be available by any SME will submitted by the SME. Usual be MUR 15m. processing and registration fees apply. For more information and assistance on the Special SME Leasing Leasing News Scheme, Please contact our Relationship Managers: c/o The Mauritius Leasing Company Limited Angelo Bussier 945-2631 Clothilde De Fondaumiere 257-9315 3rd Floor, BAI Building 25 Pope Hennessy Street David Athaw Kemla Rajah Gopal 258-2899 Jean-Yves De Fleuriot 256-7869 251-5885 4 Port-Louis MAURITIUS