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02 January 2016 : GLF opened its new POS in Honda Sub-Dealer in Kampong Speu Province

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

02 Jan 2016

On 2 December, 2016 GL Finance (GLF) opened its new POS in Kampong Speu province, in Cambodia. This new POS is located inside Honda Sub-Dealer Sovann De, which is now GLF’s 144th sales office in Cambodia. This POS is located at Peanichkam village, Rorkathom commune, Chbarmorn city, Kampong Speu Province.

With this POS, we are now currently open:

  • 58 Honda Authorized Dealers nationwide and
  • 86 Honda Sub-Dealer
    Total = 144 POSs

 

 

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28 December 2015 : JTrust Committed to Long-term Investment in GL

JTrust Committed to Long-term Investment in GL

28 Dec 2015

Japanese financial group J Trust is committed to long-term investment in Thailand-based Group Lease Public Company Limited (GL) as a strategic partner that together will grow leasing and other consumer-finance businesses in Indonesia and other markets in ASEAN.

“We consider our alliance with GL to be beneficial to both parties because we will grow our banking business as we support GL to grow its leasing and other finance-related businesses in the ASEAN markets as well,” J Trust said in an official statement issued in Tokyo today (Dec 28,2015).

The statement came after J Trust, through its wholly-owned subsidiary in Singapore JTrust Asia PTE. LTD., decided to exercise its right to convert US$30 million worth of GL’s convertible debentures into 98.1 million GL shares, which will amount to about 6.43% of GL’s expanded capital base. JTrust Asia subscribed to the debentures in May this year.

“Through the conversion of stock, we are supporting the growth of leasing and other consumer-finance business in Indonesia and other ASEAN markets together with GL as our strategic partner.

And we can also expand our banking business,” the J Trust statement said.

GL Chairman and Chief Executive Officer Mitsuji Konoshita said although J Trust’s conversion may lead to a shareholding dilution, earnings per share will not be diluted and the net result will be very positive for GL. “Through our collaboration with J Trust, our new business in Indonesia will generate more profits and our earnings per share (on the new capital base) will further increase,” he said.

GL is in the process of registering a new joint venture company in Indonesia with J Trust and another local Indonesian entity as joint-venture partners to kick-start leasing and other consumer-finance businesses in Indonesia. Funding for the new venture will come from a local Indonesian bank, PT Bank J Trust Indonesia, which is a J Trust subsidiary. The new Indonesian business is expected to kick off early next year.

GL’s latest expansion into Indonesia is coming after the company’s successful expansion into Cambodia and Laos. Profitability from the Cambodian operations in particular has been remarkable and has now surpassed that from operations in Thailand. Of the 150.27 million baht record-high profits in Q3 this year, roughly 70 million baht was from Thai operations while the remaining 80 million baht were contributed from overseas the bulk of which from Cambodia.

Mr. Konoshita has stated that the company is expanding aggressively into the booming markets of CLMV (Cambodia, Laos, Myanmar and Vietnam) plus Indonesia because of their strong growth potentials whereas in Thailand, GL has been focusing more on consolidation and asset-quality improvement due to the economic slowdown.

He is particularly bullish on Indonesia which has a far larger population (250 million) with growing numbers of new consumers with higher purchasing power. “The Indonesian market is ten times larger than Cambodia,” he stated.

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18 December 2015 : SET Executives Welcomed, Congratulate GL for Becoming SET100 Firm

SET Executives Welcomed, Congratulate GL for Becoming SET100 Firm

18 Dec 2015

Mr Mitsuji Konoshita President and CEO, Group Lease Public Company Limited (SET: GL), welcomed Ms Satjapa Thongprasarn Head Listed Company Development Department of the Stock Exchange of Thailand, who congratulated GL for becoming a SET100 index constituent.

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03 December 2015 : 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 Dec 2015

On 3 December, 2015 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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15 November 2015 : GLF opened its new POS in Honda Sub-Dealer in Kratie province

GLF opened its new POS in Honda Sub-Dealer in Kratie province

15 Nov 2015

On 15 November, 2015 GL Finance (GLF) opened its new POS in Snuol district, Kratie province, in Cambodia. This new POS is located inside Honda Sub-Dealer Heng Samnang, which is now GLF’s 143rd sales office in Cambodia. This POS is located at National Road #7, Snuol village, Snuol commune, Snuol district, Kratie province.

With this, we are now currently open :

  • 58 Honda Authorized Dealers nationwide and
  • 85 Honda Sub Dealer
    Total = 143 POSs

 

 

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11 November 2015 : GLF opened its new POS in Honda Authorized Dealer in Kandal Province

GLF opened its new POS in Honda Authorized Dealer in Kandal Province

11 Nov 2015

On 11 November, 2015 GL Finance (GLF) opened its new POS in Kandal Province, in Cambodia. This new POS is located inside Honda Authorize Dealer Sok Chou, which is now GLF’s 142nd sales office in Cambodia. This POS is located at National Road #4, east of Thnal Totoeung market, Lum Hach Village, Lum Hach Commune, Ang Soul District, Kandal Province

With this, we are now currently open :

  • 58 Honda Authorized Dealers nationwide and
  • 84 Honda Sub Dealer
    Total = 142 POSs

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10 November 2015 : GL: Pioneering Successful Expansion into CLMV, with Q3 Profits Hitting New High

GL: Pioneering Successful Expansion into CLMV, with Q3 Profits Hitting New High

10 Nov 2015

SET-listed motorcycle leasing firm Group Lease Public Company Limited (GL) has reported new record-high profits from its Q3 2015 financial results which underscored continuous strengths in the company’s overseas operations, particularly those in Cambodia that are now generating more profits than Thailand.

Consolidated net profits were recorded at 150.27 million baht, representing an astronomical 3,124% jump from the same period last year. This was the highest ever quarterly profits in the company’s history. On a Q-to-Q basis, this also constituted a 16% increase from the 129.47 million baht net profits in Q2 this year.

GL Chairman and Chief Executive Officer Mitsuji Konoshita attributed the sharp increases in profitability to the company’s overseas businesses, particularly those in neighboring Cambodia where the economy is booming, whereas operations in Thailand have stabilized.

Of the total 150.27 million baht Q3 net profits, roughly 70 million baht came from the Thai operations (about the same as in Q2) while the remaining 80 million baht were contributed from overseas. “This shows that profits from our overseas operations (the bulk of which from Cambodia) have now surpassed that of Thailand,” Mr. Konoshita stated.

The GL boss is particularly bullish on the company’s regional expansion. He said the trend of overseas operations making larger profit contributions will continue to gather stronger momentum as GL taps the huge growth potentials in Cambodia while the recently established operations in Laos are expected to become profitable starting in the current quarter. Meanwhile, operations in Indonesia are expected to start early next year.

GL’s strategic expansion into CLMV (Cambodia, Laos, Myanmar and Vietnam) in recent years has now become an outstanding success story among Thai companies seeking to diversify from the relatively stagnated economy in Thailand into the booming markets of the neighboring countries.

According to Mr. Konoshita, the growth potentials in Cambodia remain solid for many more years in the face of the country’s booming economy and the emergence of a large middle class having sufficient purchasing power. He revealed that GL Finance (GLF), GL’s subsidiary there, has recently expanded into the “ground-breaking” new business of financing for small and medium enterprises (SMEs). This is on top of its traditional lines of motorcycle and farm-machinery leasing and nano financing.

GLF is now doing about 2,000 motorcycles per month and this is expected to increase to about 3,000 units by year’s end and monthly sales are projected to grow further to 3,000-5,000 units next year. The current outstanding portfolio is about US$80 million with an extremely low non-performing loans (NPLs) rate of only 0,4%.

The positive outlook in Cambodia is set against a no-growth scenario in Thailand where the outstanding portfolio has remained roughly unchanged at about 5 billion baht although the overall assets quality has improved and the Thai NPLs are projected to decrease from about 6.5% at present to about 5% by year’s end.

The stronger performance in Cambodia aside, GL said in its filing with the SET today (Nov 10, 2015) that the provisions for bad and doubtful debts also dropped substantially from 138.66 million baht in Q3 last year to 83.43 million baht in Q3 this year. Representing roughly 40% reduction, this also reflects significant improvement in assets quality. Losses from the re-sale of compounded vehicles decreased 32.52% from 135.06 million baht to 91.14 million baht over the same period.

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08 September 2015 : GL Expanding to Indonesia

GL Expanding to Indonesia

08 Sep 2015

SET-listed motorcycle leasing firm Group Lease Public Company Limited (GL) is setting up a new company to spearhead its expansion into the huge and relatively untapped retail finance and leasing markets in Indonesia, the largest member state of ASEAN with a population of over 250 million.

The new company – PT JTrust Finance Indonesia – is a joint venture between Group Lease Holdings Pte. Ltd. (GLH, a GL subsidiary in Singapore, holding 65%), J Trust Asia Pte. Ltd. (a subsidiary of the J Trust Group which is GL’s strategic partner, holding 20%) and PT Wijaya Infrastruktur Indonesia (holding 15%). A formal filing with the SET today (Sept 8, 2015) said the joint venture company will have a registered capital of about US$ 7 million (245 million baht).

According to GL Chairman and Chief Executive Officer Mitsuji Konoshita, GL intends to use the 62 branches of J Trust Bank, a local Indonesian bank owned by the J Trust Group, to facilitate and support its entry into the Indonesian markets. J Trust recently subscribed to US$ 30 million worth of convertible debentures issued by GL.

“Registration of the new joint venture company is now underway. We expect the process to be completed within a few months so that we can start doing business within this year,” Mr. Konoshita stated.

After GL’s highly successful operations in Cambodia and the recent commencement of business in Laos, the entry into Indonesia marks another giant step in the Thailand-based group’s regional expansion. This corresponds with the company’s corporate vision to become “The Leading ASEAN Regional Finance Company” within 5 years.

GL recently reported record-high profits of 129.47 million baht for Q2 ending June this year, an astronomical jump of 1,765% from the same period last year. Aside from lower provisions for bad and doubtful debts that were in line with the country’s economic recovery, the substantial profit increases were made possible by larger contributions from the highly successful operations in Cambodia.

Mr. Konoshita projected that the outstanding portfolio in Cambodia (comprising a combination of Honda motorcycles and Kubota farm machineries) would roughly double from US$ 45 million at the end of June to about US$ 80-100 million by year-end. He further expected this to more than double to US$ 250 million by the end of next year. By comparison, the outstanding portfolio for Thailand will rise just about 10% from the current approximate 5 billion baht (US$ 140 million) to 5.5 billion over the same period.

“The growth potentials in Cambodia are huge,” Mr. Konoshita stated. “And the growth is coming from the rural countryside where 80% of our clients are based. We have seen a great deal of rural development in recent years – new roads, construction, housing – which has created a whole new generation of consumers with new purchasing power which we have never seen before,” he added.

Mr. Konoshita noted that these new countryside consumers represent a huge market untouched by GL’s competitors which are more focused in cities and other urban areas. As a result, GL Finance (GLF), GL’s wholly-owned subsidiary in Cambodia, has emerged as the dominant market leader with an estimated 95% market share. Importantly, these rural markets are relatively insulated from the current global financial volatilities, Mr. Konoshita added.

Equipped with an efficient E-Finance system which substantially shortens the times on credit evaluation for clients, GL is now using the successful model developed in Cambodia for Laos and will introduce the same system for Indonesia once the new joint venture is set up.

Mr. Konoshita expressed his confidence that entry into the Indonesian markets will mark a new chapter that will raise GL to new heights in terms of revenue and profitability. “Like in the case of Cambodia, the markets in Indonesia were not there a few years ago. But thanks to rapid economic development, a whole new generation of consumers with new purchasing power has emerged. And because of the much larger population, the Indonesian markets are ten times bigger than Cambodia,” he stated.

Mr. Konoshita stated that while Thailand will continue to be GL’s base, overseas operations from the region will make much larger contributions to aggregate group revenues and profits from now on. For instance, profits from Cambodia will match that in Thailand this quarter and surpass the Thai numbers starting in Q4.

According to Mr. Konoshita, the new joint venture company in Indonesia expects to jumpstart leasing business covering motorcycles, farm machineries, solar panels and electrical appliances through the network of 62 branches of J Trust Bank, a local Indonesian bank owned by J Trust Group. “Running parallel to that, the JV company will also become a holding company as and when we succeed in taking over any local Indonesian finance firms,” he added. Ends.

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07 September 2015 : GLF providing Financial Service to Honda Sub-Dealer in Banteay Meanchey Province, Cambodia

GLF providing Financial Service to Honda Sub-Dealer in Banteay Meanchey Province, Cambodia

07 Sep 2015

On 7 September, 2015 GL Finance Plc.(GLF) had providing financial service to a Honda Sub Dealer Pov Laim 1, Banteay Meanchey Province which located at National Road No. 5 (south-east of Mongkul Borey district house), Mongkul Borey district, Banteay Meanchey Province. This is the 141st of GLF sales office in Cambodia.

  • 57 Honda Authorized Dealers nationwide and
  • 84 Honda Sub Dealer

              Total = 141 POSs

 

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31 August 2015 : GLF providing Financial Service to Honda Sub-Dealer in Mondulkiri Province, Cambodia

GLF providing Financial Service to Honda Sub-Dealer in Mondulkiri Province, Cambodia

31 Aug 2015

On 31 August, 2015 GL Finance Plc.(GLF) had providing financial service to a Honda Sub Dealer Kong Vongpich, Mondulkiri Province which located at Kandal village, Spean Meanchey commune, Sen Monorom city, Mondulkiri province. This is the 140th of GLF sales office in Cambodia.

  • 57 Honda Authorized Dealers nationwide and
  • 83 Honda Sub Dealer
    POS Total = 140