People’s Leasing Co. Ltd. (PLC) has won the world class Star Award for quality in the Gold Category at the 33rd International Business Initiative Directions (BID) Quality Convention held in Geneva, in recognition of its commitment to Quality, Leadership, Technology and Innovation. The event was organized by BID, located in Madrid, Spain and strongly committed to building better business reputation worldwide.

The presentation of the International Star Award for Quality (ISAQ) took place on October 27, 2008 in the Convention Hall of the Intercontinental Hotel in Geneva, Switzerland. The event was presided by Jose E. Prieto, the Executive President/ CEO of BID, along with many outstanding personalities from high caliber corporates of 52 countries in the business world. In this manner the BID symbol has made its presence known among 178 countries around the world, and has created a firm ground for the implementation of an original quality process through the technology and procedures of the QC 100 Total Quality Management.

This prestigious Gold Category Quality Award was received by Mr. W. Karunajeewa, Chairman, PLC/People’s Bank who led the two member delegation, along with Mr. Andy Ratnayake, Senior Manager representing People’s Leasing Co. Ltd. Upon receipt of this Gold Award, Mr. W. Karunajeewa said, “It was indeed a unique and well represented awards convention, bringing PLC and People’s Bank to the limelight in front of an international audience.”

The purpose of the the Quality Convention Geneva 2008 was to recognize the commitment to quality of award-winning companies, whose activities cover the top areas of industrial product and services, including financial service products. All awardees in the corporate sector, representing 52 countries from all over the world, were commended for achievement in quality and excellence. PLC is the only leasing company to receive international recognition in this fashion.

According to Mr. Jose E. Prieto, “awardee companies are symbols of commitment to leadership, technology and innovation which make them models for other companies in their respective sectors.”

People’s Leasing, which was incorporated in 1995, commenced operations in May 1996 as a fully-owned subsidiary of People’s Bank. In its sixth year of operations, PLC became the market leader in the leasing sector and has retained its supremacy for the last six years consecutively. With a view to broad-base PLC operations, new subsidiaries, namely People’s Leasing Fleet Management Ltd. and People’s Leasing Property Development Ltd. with BOI status, have been incorporated recently, keeping PLC as the parent of the People’s Leasing Group of Companies.