In the past, Sri Lanka's vehicle and machinery markets have suffered
from artificial demand and supply fluctuations due to the absence of
proper economic principles, malpractices by certain valuers, and the
lack of a governing institution to regulate transactions. These
distortions have not only disrupted market stability but also led to
far-reaching economic consequences.
With the resumption of vehicle imports after five years, it is crucial
to prevent irregularities and curb the influence of intermediaries who
manipulate prices to create artificial surges. To address this, we are
introducing Sri Lanka’s first publicly accessible transactions
database for vehicles and machinery. This initiative is designed to
ensure market stability through genuine demand and supply dynamics
while fostering awareness among government authorities, the financial
sector, and the public.
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As the only institution that has taken proactive steps to regulate and
standardize this sector, we recognize our responsibility to promote
transparency and accountability. This initiative follows the
Public-Private-People (3P) Concept, ensuring broad stakeholder
engagement in market regulation.
- A Reliable Resource for Valuers and Financial Institutions.
- Supporting Government, lending & Insurance Sectors.
- Driving Market Stability Through Data-Driven Insights.
- Specialized Features for Maximum Transparency and Accuracy.
To ensure reliability, accessibility, and accuracy in Sri Lanka’s
vehicle and machinery valuation landscape, the transactions database
will incorporate several specialized components:
Green Book
The "Green Book" will serve as the primary platform where all
verified vehicle and machinery transaction records will be publicly
accessible. This evidence-based database will provide real-time,
data-driven market insights, ensuring stakeholders—including
financial institutions, government bodies, businesses, and the
general public—can make informed decisions. By maintaining a
structured repository of transaction data, "Green Book" will set a
new industry standard for transparency and accountability.
Certified Stock
Vehicles that have been professionally assessed and certified as
genuine by accredited valuers will be categorized under "Certified
Stock." This classification will help buyers, banks, and financial
institutions confidently rely on valuation reports, mitigating risks
associated with manipulated pricing or fraudulent practices.
Orange Vehicles
To enhance market transparency, vehicles with material valuation
uncertainties will be classified as "Orange Vehicles." This category
will serve as a red flag for buyers, financial institutions, and
insurers, enabling them to conduct further due diligence before
proceeding with transactions.
Mileage Reference
The "Mileage Registry" will maintain a structured database of
recorded mileage readings at different transaction points. This
initiative aims to prevent odometer fraud, ensuring that vehicles
with altered mileage readings are easily identifiable.
Asset Registry
The "Asset Registry" will serve as a dedicated platform for plant
and machinery transactions, offering a structured database for
valuation and verification. By providing accurate valuation records,
the "Asset Registry" will play a key role in ensuring proper asset
management and risk assessment.
This initiative marks a major milestone in Sri Lanka’s efforts to
establish a transparent, regulated, and well-structured valuation
industry, benefiting valuers, financial institutions, government
bodies, and the general public alike. The Asset Registry is
maintained under the direct supervision of the Industrial
Development Board (IDB).
