SET announces Group Lease to join the SET CLMV and SET sSET indices
19 Jun 2019
Group Lease Public Company Limited joins the SET CLMV and SET sSET indices in recognition of its strong financial position throughout Southeast Asia and active share liquidity
The Stock Exchange of Thailand (SET) announced the results of its semi-annual index review and added Group Lease PCL (GL) to the SETCLMV index, referring to SET companies who have a significant presence in Cambodia, Laos, Myanmar, or Vietnam (CLMV). To be selected for the CLMV index, a company must have at least 10% of annual revenues or at least revenue of THB 100 million from a CLMV country and must have a market cap of at least THB 5 billion, in addition to a few other free-float and trading requirements. GL presently has a market cap of more than THB 10 billion.
Mr. Alain Jean Pascal Dufes, Chief Financial Officer of Group Lease Public Company Limited, stated that “in 2018, 19% of GL revenue came from Cambodia, 8% from Myanmar and 5% from Laos for a total of roughly 32%, or more than THB 900 million, from CLMV countries. The remaining 68% of GL revenue was from Thailand (64%) and Indonesia (4%). We expect in the long run for GL’s CLMV revenue to continue to grow and become a larger portion of our company, even though Thailand will likely remain our largest single market for the foreseeable future.”
Mr. Tatsuya Konoshita, Chief Executive Officer of Group Lease Public Company Limited, stated “we are pleased that the SET has taken the initiative to help investors in the Thai market identify companies that are leveraging Thailand’s location and market to expand into nearby growing economies, as well as help Thai investors diversify their exposure from Thailand to more of Southeast Asia focus, all while under the good governance and familiar regulations of the SET.”
Additionally, GL joined the sSET index, which is used to reflect the price movement of shares that have active, consistent trading liquidity in order to serve as a benchmark for the Thai market. GL is pleased the SET picked us to help represent the Thai stock market.
Overall, we are elated to share this news with our shareholders, stakeholders, employees, and the market. Our inclusion into these indices should make our stock more attractive and provide more confidence in us to investors. This is another example of GL continuing to earn the trust of the SET and our regulators in Thailand. We are proud they are willing to showcase us in their indices and look forward to continuing to work with them.