Top Page | English | 简体中文 | 繁體中文 | 한국어 | 日本語
Monday, 28 December 2015, 16:00 HKT/SGT

Source: Group Lease PCL
J Trust Committed to Long-term Investment in Thailand's Group Lease

BANGKOK, Dec 28, 2015 - (ACN Newswire) - Japanese financial group J Trust is committed to long-term investment in Thailand-based Group Lease PCL ("GL"; SET: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 Co Ltd (TSE:8508), 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 TBH150.27 million record-high profits in Q3 this year, roughly TBH70 million was from Thai operations while the remaining TBH80 million 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.

About Group Lease PCL

Group Lease Public Company Limited was established on 6th May 1986 and listed on the Stock Exchange of Thailand in 2004 (SET:GL). The company has expertise in hire-purchase of motorcycles, as it has been in the motorcycle leasing business for over 20 years, with motorcycle brands for financing including Honda, Yamaha, Suzuki, Kawasaki.

In 2007, the APF group became the major shareholder holding around 65% of total shares. In 2012, GL announced a long-term business plan to become the leading finance company in the Southeast Asian region. To do so, GL formed Group Lease Holdings Pte. Ltd. (GLH), a Singapore holding company, as headquarters for its expansion in other countries. For more information, please visit

Master Mind Communications Co., Ltd.
Orn-anong ("Fah") Pattaravejkul
Tel: +66-2-612-2081 #129
Mobile: +66-86-884-4458
E-mail: [email protected]

Dec 28, 2015 16:00 HKT/SGT
Source: Group Lease PCL

Topic: Press release summary
Sectors: Daily Finance
From the Asia Corporate News Network

Copyright © 2020 ACN Newswire. All rights reserved. A division of Asia Corporate News Network.

Group Lease PCL
Aug 28, 2017 16:00 HKT/SGT
Group Lease PCL (SET:GL) Reports Pre-payment from Cyprus Borrowers
Aug 17, 2017 11:30 HKT/SGT
Group Lease PCL (SET:GL) Q2 Profits Hit New High
May 15, 2017 14:00 HKT/SGT
Group Lease PCL (SET:GL) Reports Impressive Q1 Results
Mar 1, 2017 11:00 HKT/SGT
Group Lease PCL (SET:GL) Sets up Financial Services Hub in Cyprus
Feb 14, 2017 18:40 HKT/SGT
Group Lease PCL (SET:GL) Q4/16 Profits Break New High
Jan 4, 2017 17:50 HKT/SGT
Group Lease PCL (SET:GL) Expanding to 20 Countries in 2017
Dec 7, 2016 15:30 HKT/SGT
GL (SET:GL) Key Regional Investment Plans Get Shareholders' Green Light
Nov 28, 2016 19:00 HKT/SGT
GL's Great Leap Forward
Nov 14, 2016 12:50 HKT/SGT
GL Shows New Record-High Q3 Profits, Expects Even Stronger Growth in Q4
Oct 13, 2016 16:00 HKT/SGT
GL Partners AMK's U Aung Moe Kyaw, Others in Major Myanmar Expansion
More news >>
 News Alerts
Copyright © 2020 ACN Newswire - Asia Corporate News Network
Home | About us | Services | Partners | Events | Login | Contact us | Privacy Policy | Terms of Use | RSS
US: +1 800 291 0906 | Beijing: +86 400 879 3881 | Hong Kong: +852 2217 2912 | Singapore: +65 6304 8926 | Tokyo: +81 3 6859 8575

Connect With us: