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19 May 2016 : Posted presentation video and documentations related to press conference on 13-May, 2016

Posted presentation video and documentations related to press conference on 13-May, 2016

19 May 2016

Press conference “Digital Finance Driving GL Profit to New High” as a result of 2016Q1 was held on the 13th of May, 2016, at Le Lotus 2 Room, Swissotel Le Concorde Hotel.

On the mentioned date, Chairman of Executive Committee, Mr. Tatsuya Konoshita briefed through the future outlook along with the financial results of our company.

Please refer to the following URL for video on that day

and additionally posted a video of Q&A part

and

attached PDF for the distributed materials.

 

Attachments

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18 May 2016 : GL Raising More Than 10 Billion Baht to Fund Major Expansion

GL Raising More Than 10 Billion Baht to Fund Major Expansion

18 May 2016

SET-listed Group Lease Public Company Limited (GL), the pioneer of digital financing in ASEAN, has decided to raise more than 10 billion baht by issuing a large batch of new warrants and convertible debentures in order to finance a major expansion program over the next 2-3 years.

According to a decision by the GL Board on May 17, a total 170 million warrants (GL-W4) will be issued to the company’s shareholders for free at the ratio of 9:1 (9 shares for 1 warrant). The warrants can be exercised at the ratio of 1:1 (one warrant for one new share) at the price of 40 baht within a two-year period.

The Board also decided to issue US$130 million worth of convertible debentures in a private placement for J Trust Asia. Carrying a 5% interest over a five-year maturity, the debentures can be converted into ordinary shares at the conversion price of 40 baht each.  J Trust Asia, a subsidiary of J Trust in Japan, subscribed to the first batch of US$30 million convertible debentures in May last year and fully converted them into GL shares at the end of last year.

GL will effectively raise new capital totaling about 6 billion baht if holders of the new warrants decide to exercise to convert all their holdings while the US$130 million convertible debentures will bring in new funds worth more than 4.5 billion baht.

In order to prepare for both the shareholders and J Trust Asia to exercise their rights, the GL Board also decided to raise the company’s registered capital by 285.05 million shares. These decisions will now be tabled before an Extraordinary Shareholders Meeting (EGM) on June 24 for final approval before becoming effective.

“We need the additional funds because we are expanding on all fronts,” stated GL’s Chairman and Chief Executive Officer (CEO) Mitsuji Konoshita.

Mr. Konoshita is particularly bullish on the group’s growth potentials in Cambodia where GL has pioneered the cost-effective digital finance platform which is now being applied to its businesses in other countries in the region. He projected that GL’s portfolio in Cambodia will double from US$44 million at the end of last year to about US$100 million by the end of this year and further double to about US$200 million next year. Therefore, the new funds from the J Trust Asia convertible debentures are expected to be used up in two years.

In Cambodia where US dollar is the main financing currency, GL’s thriving hire-purchase business covering motorcycles, agricultural machineries and solar panels has now expanded to cover financing for small and medium enterprises (SMEs) that supply the GL range of products to GL’s clients.

Meanwhile, the new funds that will be raised from the exercising of GLW-4 – in Thai baht – will be used to finance the expansion of business in Laos which has turned profitable since late last year, the improvement of assets quality in Thailand and also to prepare for expansion into new markets such as Myanmar as well as possible mergers and acquisitions.

GL’s new expansion program is coming after the company has reported a record-high 222.17 million baht net profit in the first quarter this year which more than doubled from the same period last year and represents the sixth consecutive quarterly record-high profits since the last quarter of 2014.

As the company pushes ahead to expand aggressively into the ASEAN region, it has been chosen to be included in the MSCI Global Small Cap Index effective the end of this month.

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13 May 2016 : New Record-High Profits for GL

New Record-High Profits for GL

13 May 2016

SET-listed digital finance firm Group Lease Public Company Limited (GL) has posted a record-high 222.17 million baht net profit from its operations in Q1 2016, which represents a massive 101.53% increase from the same period last year. The latest results mark the sixth consecutive quarterly record-high profits since the last quarter of 2014.

According to GL’s Executive Board chairman Tatsuya Konoshita, the results for the January-March 2016 period mark significant improvement from all of the GL Group’s operations, including those in Thailand and all other overseas subsidiaries. These improvements were bolstered by better assets quality, lower provisions for bad and doubtful debts and reduced losses from the disposal of foreclosed assets, he said.

Notable among the highlights of the Q1/2016 results were major improvements in GL’s home-based operations in Thailand, a sharp increase in “other incomes” derived from new financing for SME dealers in Cambodia that are booked by GL Holdings (GLH, a wholly-owned subsidiary in Singapore), plus the new business in Laos which for the first time started to turn profitable.

“I want to give credit to the management of our Thailand operations which has done a very good job,” commented Mr. Tatsuya. A significant improvement in assets quality for the Thailand portfolio has resulted in the gradual reduction of non-performing loans (NPLs) from more than 10% at the start of last year to just 6.5% now. “Our Thai portfolio is clean,” he stated.

In an official filing with the Stock Exchange of Thailand (SET), the company said consolidated hire-purchase interest income for this period amounted to 484.70 million baht, a small increase of only 1.47 million baht from the same period last year. The aggregate amount took into account substantial increases of 80.77 million baht and 16.04 million baht from the subsidiaries in Cambodia and Laos respectively. But the increases were partially offset by a reduction in interest incomes from the parent company and the Thai subsidiary of 50.33 million baht and 45.01 million baht respectively, which reflect a continuous consolidation of the Thailand operations.

The filing also noted a significant increase of 93.42% in “other incomes” from 89.70 million baht to 173.49 million baht over the same period. A sizable portion of these incomes was derived from new financing to SME dealers in Cambodia that supply products such as motorcycles, farm machineries, solar panels and electrical appliances to GL’s hire-purchase clients.

The filing also attributed the improved financial results in Q1 to lower provisions for bad and doubtful debts due to better assets quality, stricter loans approval and more effective collections in the Thailand operations while “the business in Cambodia and Laos are growing continuously with low percentage of overdues”.

Finally, the losses from the re-sale of repossessed vehicles decreased substantially by 46.54% from 107.10 million baht in the first quarter in 2015 to just 57.25 million baht in this period.

“This has been another very good quarter for GL, reflecting improvement in all aspects of our operations both in Thailand and overseas,” Mr. Tatsuya concluded.

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24 March 2016 : GL Restructures, Ready for Indonesian Expansion

GL Restructures, Ready for Indonesian Expansion

24 Mar 2016

SET-listed digital financial firm Group Lease Public Company Limited (GL) is injecting US$ 8 million or roughly 280 million baht into its subsidiary in Indonesia as the final preparations are ready to kick-start business in this largest member state of ASEAN.

Coming after successful operations in Cambodia and Laos, the latest move into Indonesia coincides with a major corporate restructuring to streamline management and operational efficiency as the GL group grows bigger and further continues its aggressive expansion into the ASEAN markets and beyond.

The corporate restructuring saw the establishment of a new Executive Board which will supervise all operations in Thailand and overseas and the appointment of new directors, including a US financial expert, to chart growth strategies as the group pushes ahead to expand internationally. These latest moves were decided at a Board meeting on March 22 and would be tabled before the Annual General Shareholders Meeting (AGM) on April 28 for formal endorsement.

As a final preparation to launch the Indonesian operation, the GL Board decided to raise the capital of GL Holdings, a wholly-owned subsidiary in Singapore, by US$ 8 million which will be injected into PT GL Finance Indonesia (GLFI), the Indonesian joint venture in which GL holds 65% while its strategic partner J Trust Asia and another local partner hold the remaining 20% and 15% respectively. Senior executives say all systems are ready to go as the company awaits a license from the Indonesian authorities.

GL’s corporate restructuring is necessitated by the group’s rapid expansion in recent years which has brought about new and more complex challenges. “GL today is not a simple motorcycle leasing company like before,” stated Tatsuya Konoshita, GL’s Executive Director and Chief Investor Relations Officer. “We have grown so fast in recent years and become so big that the old management structure is no longer suitable. We have become a digital finance pioneer, providing a comprehensive digital financial platform to the ASEAN markets. So, we have to restructure to make sure we move forward efficiently.”

Under the aggressive expansion policies directed by the company’s Chairman and Chief Executive Officer Mitsuji Konoshita, the GL group has now grown to a total of six companies – comprising the listed mother company in Thailand plus four wholly-owned subsidiaries including Thanaban (also in Thailand), GL Holdings (Singapore), GL Finance (Cambodia) and GL Laos (Laos) plus the Indonesian joint venture.

These six companies are now put under the Business Development Office according to the new GL group organization chart and the office is under the direct supervision of the Chairman & CEO Mr. Mitsuji. Meanwhile, the IT, Accounting and Finance operations are put under the Group Business Support Office supervised by Mr. Tatsuya, who is Mr. Mitsuji’s younger brother.

Mr. Tatsuya is also appointed Chairman of a newly-established Executive Board comprising of 11 senior executives which will ensure efficient coordination and operations of the entire group while policy matters will continue to be directed by the GL main Board.

Mr. Tatsuya noted that the Board restructuring positions GL to effectively handle new challenges as the Group continues to expand internationally. “Our operations will become more diverse and complex as we further expand overseas. For instance, our loan portfolios in the various countries where we operate will deal with different currencies which require effective hands-on management,” Mr. Tatsuya said.

The appointment of an outside director like Mr. Patrick Fisher also corresponds nicely with GL’s international push. An ex-JP Morgan Chase executive, Mr. Fisher is an investment professional specializing in private equity in emerging markets who holds directorships in several companies including private and public banks and finance companies in Europe, Asia and Latin America.

Aside from Mr. Fisher, the Board also decided to appoint two other new directors – GL’s new Group Chief Financial Officer Regis Martin and GLF Chief Executive Officer Riki Ishigami.

GL has recorded continuously improved performance in recent years as quarterly profits have continued to break new records. Total net profits for 2015 were 582.89 million baht, up about 400% from the previous year on the back of improved financial results in Thailand and substantial growth in profits from its overseas operations, particularly Cambodia.

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16 March 2016 : GL Targeting Aggressive Regional Expansion

GL Targeting Aggressive Regional Expansion

16 Mar 2016

SET-listed digital financial firm Group Lease Public Company Limited (GL) is targeting to raise 2 billion baht through the issuance of debentures this year to finance aggressive regional expansion and possible mergers & acquisitions (M&As).

The decision was made at a GL Board meeting on March 15 which decided to raise the ceiling for the issuance of debentures to 2.5 billion baht from 2 billion baht that was approved by the company’s shareholders earlier. Since some 500 million baht had already been issued, the total remaining amount now is 2 billion baht.

The same Board meeting also decided to pay 0.156 baht dividend per share, which will amount to a total of 237.96 million baht. The recording date for shareholders entitled to the dividend was set for May 11, with the registration book set to close on May 12.

It was noted that both the dividend payment and the raising of the debentures ceiling will be presented to the Annual General Shareholders Meeting (AGM) on April 28 for final endorsement.

Mr. Tatsuya Konoshita, GL’s Executive Director and Chief Investor Relations Officer, stated that new funds to be raised from the issuance of debentures will finance GL’s aggressive expansion into CLMV+I (Cambodia, Laos, Myanmar, Vietnam plus Indonesia) and possible takeovers of finance-related businesses in the region.

GL posted a record high profit of 582.89 million baht last year, up about 400% from the 117.72 million baht net profit in 2014, thanks to higher profits in Thailand and overseas operations, particularly in Cambodia where the company has been very successful.

Mr. Tatsuya noted that it is likely the company will achieve another record-high profit for the first quarter this year. He said there is further improvement in the assets quality in the Thailand operations where the rates of non-performing loans (NPLs) have dropped from 7.3% last year to 6.5% now and continue to improve further.

Meanwhile, operations in Cambodia have continued to improve markedly. GL Finance (GLF, a wholly owned subsidiary in Cambodia) has developed a cost-effective digital financial platform that has enabled the entire process starting from loans evaluation/approval to monthly installment payments by clients to function speedily and efficiently at low costs.

“Our sales (in Cambodia) roughly doubled from 1,200 units in February last year to about 2,200 units in February this year but our profits have tripled because of the fixed costs,” Mr. Tatsuya said.

GL’s operations in Laos are expected to generate more profits this year while the company is awaiting a license from the Indonesian government in order to kick-start the business there. A joint venture company has already been formed with GL’s strategic partner the J Trust Bank plus a local Indonesian partner and the system is ready to go as soon as the license is issued which is expected shortly.

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15 February 2016 : Group Lease Pioneering Digital Finance in ASEAN

Group Lease Pioneering Digital Finance in ASEAN

15 Feb 2016

After posting new record-high profits of 192.90 million baht in the last quarter of 2015, SET-listed motorcycle leasing firm Group Lease Public Company Limited (GL) has announced that it is changing its business model to pioneer digital finance in ASEAN to drive revenues and profits to even greater heights.

GL Chairman and Chief Executive Officer Mitsuji Konoshita explained that the new business model builds around an efficient and low-cost e-Finance system developed by GL to serve the financing needs of the company’s growing number of clients in the rural countryside of Cambodia, Laos, and other markets in ASEAN where GL is expanding to.

The system has worked successfully in Cambodia and, on top of traditional products like Honda motorcycles and Kubota agricultural machinery, it is now used as a financing platform for other products such as solar panels and consumer durables. It essentially facilitates the entire business process from loan-application evaluation to e-Payment of monthly installments by clients.

“This e-Finance system has been developed exclusively by us to serve our specific purpose. As a result, our operations are cost-effective, assets-light, easy and fast. The system puts us in a very advantageous position since other traditional finance companies or banks cannot compete with us,” Mr. Konoshita said.

In Cambodia, GL operates nearly 200 PoS (Points of Sales) nationwide which serve the growing needs of villagers in the countryside most of whom have no bank accounts or access to mainstream financing. These PoS link the clients directly with head office In Phnom Penh through the e-Finance system without having to go through the costly and cumbersome branch offices as done by other traditional finance houses.

Maintaining that this has been the main factor behind GL’s current success, Mr. Konoshita said the new digital finance model will drive the group’s revenues and profits to new heights in the years to come.

Announcement of GL’s new business model came after the company reported all-time-high net profits of 192.90 million baht for Q4 of 2015, more than double from the profits in the same quarter of 2014. All-year 2015 profits topped 582.89 million baht, a huge jump of 395.15% from the year before.

The 192.90 million baht net profits for Q4 2015 represents a 28% increase from the 150.27 million baht net profits in the previous quarter. The Q4 2015 profits comprised of roughly 90 million baht from Thailand, which represents a 20 million baht improvement from Q3 as the result of further consolidation and assets-quality improvement, while the remaining 102 million baht came from overseas operations the bulk of which from Cambodia

GL’s operations in Laos which kicked off in May last year took only five months to reach the break-even point and contributed 2.5 million baht to the group’s consolidated net profits.

Going forward, Mr. Konoshita projected that the group’s aggregate portfolio which has doubled from 4.5 billion baht at end-2014 to 9.2 billon at end-2015 will further double to 18 billion baht by the end of this year. He also forecast that 2016 net profits will top 1 billion baht.

The GL management is particularly bullish on the Cambodian growth prospect. According to Mr. Tatsuya Konoshita, GL’s Executive Director and Chief Investor Relations Officer, GL Finance (GLF, the group’s wholly-owned subsidiary in Cambodia) has done leasing for 23,000 motorcycles last year, or less than 10% of the total 260,000 new motorcycles sold in the country. “So, there are still enormous growth potentials,” he said.

Another prospective high-growth market is Indonesia where GL has registered a joint-venture company with its strategic partner J Trust Bank group since last December and is now waiting for a license from the Indonesian authorities before kick-starting the consumer-finance business. GL’s management has been in Indonesia since the end of last year to do all the necessary preparations; the license is expected this quarter while operations can kick off in the second quarter.

Maintaining that Indonesia is a huge market ten times the size of Cambodia, Mr. Konoshita had stated that GL hoped to start off with about US$20-30 million business in the first year but the full market potentials for GL there could top US$1 billion.

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05 February 2016 : GLF opened its new POS in Honda Sub-Dealer in Kralanh district, Siem Reap province

GLF opened its new POS in Honda Sub-Dealer in Kralanh district, Siem Reap province

05 Feb 2016

Today, GL Finance (GLF) opened its new POS in Siem Reap Province, in Cambodia. This new POS is located inside Honda Sub-Dealer Seng Hout Kralanh, which is now GLF’s 148th sales office in Cambodia. This POS is located at National Road #6, west of Kralanh market, Kampong Thkov village, Kampong Thkov commune, Kralanh district, Siem Reap province

With this POS, we are now currently open :

– 58 Honda Authorized Dealers nationwide and

– 90 Honda Sub-Dealer

Total = 148 POSs

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29 January 2016 : Regarding the announcement of New share on 29 JAN 2016

Regarding the announcement of New share on 29 JAN 2016

29 Jan 2016

We, SET (Stock Exchange of Thailand) listed finance company, Group Lease Public Company Limited(hereby GL) had announced the New Shares to be traded on January 29, 2016. This is the shares which had been scheduled and announced to the public already in DEC 2015 and the new shareholder is J-Trust Asia which is our new and long-term Business Partner as well.

According to the contract between J-Trust and us, J-Trust must hold all the shares at least 1 year. And actually J-Trust and we cooperate to start new Indonesia Finance Subsidiary in Republic of Indonesia, PT Group Lease Finance Indonesia (hereby GLFI ※). Since J-Trust is not only the new shareholder but also a business partner, J-Trust will hold these newly traded shares quite long term more than the restricted period mentioned above as we already mentioned on our PR before. We are quite sure that Indonesian business partnership will contribute to both of GL and J-Trust business and We welcome to have a new and next several Decades shareholder.

We would like to introduce the announcement on 14th JAN made by J Trust Co., Ltd in Tokyo Stock Exchange Market regarding its investments of 20% of GLFI’s share as follows.

http://www.jt-corp.co.jp/jp/2016/01/14/8874/?t=jn

1. Background

J Trust Co., Ltd (hereby “J Trust”) subscribed for convertible bond issued by GL and converted in last December to be a long-term strategic partner. We’ll make our partnership practical and deepen by joint investment to GLFI in Indonesia.

http://gl.listedcompany.com/news.html/id/503854/group/newsroom_homecorporate

GL will be major shareholder of this joint venture, and broaden and expand its finance business in Thailand, Cambodia, and Laos.

J Trust who made announcement for the joint venture this time has PT Bank J Trust Indonesia, Tbk. (hereby “J Trust Bank Indonesia”) as its subsidiary. J Trust Bank Indonesia is listed on the Indonesia stock market. The bank is a blue-chip financial institution in expanding its business in throughout Indonesia with 62 branches in its network. Tie up with GLFI in finance business this time is expected to boost the outstanding loan balance of J Trust Bank Indonesia and contribute to the profit of the bank. It is also the main reason for the investment decision made this time.

2. Market Overview

Republic of Indonesia has 250 million population, ranks the fourth largest population in the world. Indonesia also has the headquarters of ASEAN- an economic dynamic zone to be expected as a growth engine of the world in coming years. Also, with young population continuing growing and benefiting the country with its population bonus, Indonesia market is expected to become larger with high potential growth.

Below is Indonesian market overview.

a. Steadily increase in workforce

b. Disposable income is rising as ever

c. Household savings rate is one of the highest in the world

From here onward, local financial institutions tend to increase its deposit assetssuch savings. Along with this, in order to maximize its profits, to grow and leverage the high quality of loan balance become the key issue. In other words, it is important proposition for finance business to expand its sales of product called “money”.

 

3. GL function

GL with 30 year experience and expertise in finance business in Thailand started its first oversea finance company in Cambodia in 2012, and following with a finance lease company in Laos in 2015. GL has developed and broaden its sales networks of POS (point of sales) throughout the Laos and Cambodia to provide finance service to various sectors such as transportation, agriculture, energy and SME. Via its finance service, sales of the products of GL’s business partners such as Honda, Kubota and Panasonic has improved and grown in those countries. GL has been recognized by its business partners thanks to its capability to support and foster the sales of its business partners through the strong distribution network formulated from its large POS network and know-how on finance service. GL will support and enhance the sales of “money” product of J Trust Bank Indonesia by utilizing its business know-how and implementing quick development of POS network.

We look forward to your continuing support, patronage from our investors, shareholders and related parties.

※We’ve announcedthe status of this issue and the new company name as PT JTrustFinane Indonesia with introduction of GL’s release on 7 September, 2015. However, they finally decided the company name as PT Group Lease Finance Indonesia, since GL’s investment ratio is much larger and Group Lease isa well-known brand as a regional finance company in ASEAN.

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23 January 2016 : GLF opened 2 new POSs in Honda Sub-Dealer in Kampong Speu Province

GLF opened 2 new POSs in Honda Sub-Dealer in Kampong Speu Province

23 Jan 2016

On 21 and 23 January, 2016 GL Finance (GLF) opened 2 new POSs in Kampong Speu Province, in Cambodia. The new POSs are located inside Honda Sub-Dealer Va Thida and Honda Sub Dealer Sok Hy 1 , which is now GLF’s 146th and 147th sales office in Cambodia.

With these 2 POSs, we are now currently open:

  • 58 Honda Authorized Dealers nationwide and
  • 89 Honda Sub-Dealer
    Total = 147 POSs

Honda Sub-Dealer Va Thida

 

Honda sub-dealer Sok Hy 1

 

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03 January 2016 : GLF opened its new POS in Honda Sub-Dealer in Kampong Cham Province

GLF opened its new POS in Honda Sub-Dealer in Kampong Cham Province

03 Jan 2016

On 3 December, 2016 GL Finance (GLF) opened its new POS in Kampong Cham Province, in Cambodia. This new POS is located inside Honda Sub-Dealer Teng Sokuntheary, which is now GLF’s 145th sales office in Cambodia. This POS is located at National Road #71, Thnal Baek Kaeut village, Svay Teab commune, Chamkar Leu district, Kampong Cham Province

With this POS, we are now currently open :

  • 58 Honda Authorized Dealers nationwide and
  • 87 Honda Sub-Dealer
    Total = 145 POSs

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