Welcome!

News Feed Item

Group Lease (GL) and Siam Kubota Enter Agreement for Cambodia

BANGKOK, Sept 6, 2013 - (ACN Newswire) - SET-listed motorcycle leasing company Group Lease Public Company Limited ("GL"; SET:GL) will significantly expand its business in Cambodia to cover the leasing of agricultural machineries under a cooperation agreement with SIAM KUBOTA Corporation Company Limited, the market leader in farm machineries.

The agreement, cemented in the form of a Memorandum of Understanding (MOU), was signed today, Sept 5, 2013, by senior executives of the two companies led by GL chairman and chief executive Mr. Mitsuji Konoshita and SIAM KUBOTA president Mr. Hiroshi Kawakami. It effectively authorizes GL Finance (GLF), a wholly-owned subsidiary of GL that operates in Cambodia, to take over financing for the popular brand of Kubota farm machineries the bulk of which has been handled by Kubota dealers until now.

According to the MOU, the two parties have agreed that "the cooperative effort is in the best interest of the people (of Cambodia) as one of the objectives of this collaboration is to help in the improvement of their quality of life and standard of living."

For GL, the latest pact with SIAM KUBOTA carries significant business growth potentials in Cambodia where it has started to run full steam on motorcycle leasing after a year of preparations and systems testing. "There is great opportunity to grow our business since there are good synergies between our own network of motorcycle dealerships and the well-established nationwide network of SIAM KUBOTA dealers," GL's Mr. Konoshita stated.

SIAM KUBOTA Corporation Co., Ltd, a joint venture between KUBOTA Corporation (Japan) and Thailand's blue-chip Siam Cement Group, has reported massive business growth in Cambodia with combined revenue rising more than 20-folds from a small base of 162 million baht in 2004 when it started operation to a projected 4 billion baht this year. Sales are forecast to jump further to 5 billion baht in 2015.

Mr. Konoshita stated that GL will utilize its expertise and experience in financial services to help SIAM KUBOTA further increase sales. "Cambodia is an agricultural-based economy and farm machineries are crucial to support its economic growth. Therefore, there are still plenty of growth potentials in the future," he stated.

Mr.Hiroshi Kawakami, President of SIAM KUBOTA Corporation Co., Ltd. mentions that as the leader in Agricultural machinery provider in ASEAN, Siam Kubota has its oversea sales operations covering in Cambodia, Laos, Myanmar and other countries.

In Cambodia, we have received good response and found that farmers are willing to use agricultural machinery to increase their production efficiency. Due to financial limitation, as a strong barrier, Siam Kubota put intention to create more alternatives and financial opportunities for farmers to easier own agricultural machinery. The company has signed MOU with Group Lease Public Company Limited (GL), the leading leasing firm who has been long commercialized in Cambodia and is authorized by National Bank of Cambodia as the first company to do leasing and hire purchase services in the country. Under the cooperation, GL would provide financial services through Siam Kubota dealers helping farmers increase opportunity to possess agricultural machineries.

In 2014, SIAM KUBOTA will establish a new company named "KUBOTA Cambodia Co., Ltd" in Phnom Penh to align to its business strategy and cope with the rapid growth of agricultural machinery application in Cambodia. The company plans to develop distribution network, marketing activities and after-sales service system with the target sales at 5,000 million baht by 2015.

About Group Lease Public Company Limited (GL)

Group Lease Public Company Limited was established on 6th May 1986 and listed on the Stock Exchange of Thailand in 2004 (SET:GL). In 2007, APF group has become major shareholder by holding around 65% of total shares. The company has expertise in hire-purchase of motorcycles as it has been in the motorcycle leasing business for over 20 years. The motorcycle brands for financing include Honda, Yamaha, Suzuki, Kawasaki. In 2012, GL has announced a long-term business plan to become the leading finance company in the Southeast Asian region. In order to do so, the Company has acquired Group Lease Holdings Pte., Ltd. (GLH), a Singapore holding company, as a headquarters for its expansion plan in other countries. For more information, please visit www.grouplease.co.th.

Source: Group Lease Public Company Limited (GL)

Contact:
Orn-anong ("Fah") Pattaravejkul.
Tel: +66-2-612-2081 ext. 129 
Mobile: +66-86-884-4458
E-mail: [email protected] 
Website: www.mtmultimedia.com




Copyright 2013 ACN Newswire. All rights reserved.

More Stories By ACN Newswire

Copyright 2008 ACN Newswire. All rights reserved. Republication or redistribution of ACN Newswire content is expressly prohibited without the prior written consent of ACN Newswire. ACN Newswire shall not be liable for any errors or delays in the content, or for any actions taken in reliance thereon.

Latest Stories
"We are a well-established player in the application life cycle management market and we also have a very strong version control product," stated Flint Brenton, CEO of CollabNet,, in this SYS-CON.tv interview at 18th Cloud Expo, held June 7-9, 2016, at the Javits Center in New York City, NY.
"We provide DevOps solutions. We also partner with some key players in the DevOps space and we use the technology that we partner with to engineer custom solutions for different organizations," stated Himanshu Chhetri, CTO of Addteq, in this SYS-CON.tv interview at DevOps at 18th Cloud Expo, held June 7-9, 2016, at the Javits Center in New York City, NY.
In his session at @DevOpsSummit at 19th Cloud Expo, Yoseph Reuveni, Director of Software Engineering at Jet.com, will discuss Jet.com's journey into containerizing Microsoft-based technologies like C# and F# into Docker. He will talk about lessons learned and challenges faced, the Mono framework tryout and how they deployed everything into Azure cloud. Yoseph Reuveni is a technology leader with unique experience developing and running high throughput (over 1M tps) distributed systems with extre...
Actian Corporation has announced the latest version of the Actian Vector in Hadoop (VectorH) database, generally available at the end of July. VectorH is based on the same query engine that powers Actian Vector, which recently doubled the TPC-H benchmark record for non-clustered systems at the 3000GB scale factor (see tpc.org/3323). The ability to easily ingest information from different data sources and rapidly develop queries to make better business decisions is becoming increasingly importan...
The IoT has the potential to create a renaissance of manufacturing in the US and elsewhere. In his session at 18th Cloud Expo, Florent Solt, CTO and chief architect of Netvibes, discussed how the expected exponential increase in the amount of data that will be processed, transported, stored, and accessed means there will be a huge demand for smart technologies to deliver it. Florent Solt is the CTO and chief architect of Netvibes. Prior to joining Netvibes in 2007, he co-founded Rift Technologi...
"Operations is sort of the maturation of cloud utilization and the move to the cloud," explained Steve Anderson, Product Manager for BMC’s Cloud Lifecycle Management, in this SYS-CON.tv interview at 18th Cloud Expo, held June 7-9, 2016, at the Javits Center in New York City, NY.
Enterprise networks are complex. Moreover, they were designed and deployed to meet a specific set of business requirements at a specific point in time. But, the adoption of cloud services, new business applications and intensifying security policies, among other factors, require IT organizations to continuously deploy configuration changes. Therefore, enterprises are looking for better ways to automate the management of their networks while still leveraging existing capabilities, optimizing perf...
Security, data privacy, reliability and regulatory compliance are critical factors when evaluating whether to move business applications from in-house client hosted environments to a cloud platform. In her session at 18th Cloud Expo, Vandana Viswanathan, Associate Director at Cognizant, In this session, will provide an orientation to the five stages required to implement a cloud hosted solution validation strategy.
The cloud competition for database hosts is fierce. How do you evaluate a cloud provider for your database platform? In his session at 18th Cloud Expo, Chris Presley, a Solutions Architect at Pythian, gave users a checklist of considerations when choosing a provider. Chris Presley is a Solutions Architect at Pythian. He loves order – making him a premier Microsoft SQL Server expert. Not only has he programmed and administered SQL Server, but he has also shared his expertise and passion with b...
We're entering the post-smartphone era, where wearable gadgets from watches and fitness bands to glasses and health aids will power the next technological revolution. With mass adoption of wearable devices comes a new data ecosystem that must be protected. Wearables open new pathways that facilitate the tracking, sharing and storing of consumers’ personal health, location and daily activity data. Consumers have some idea of the data these devices capture, but most don’t realize how revealing and...
Unless your company can spend a lot of money on new technology, re-engineering your environment and hiring a comprehensive cybersecurity team, you will most likely move to the cloud or seek external service partnerships. In his session at 18th Cloud Expo, Darren Guccione, CEO of Keeper Security, revealed what you need to know when it comes to encryption in the cloud.
What are the successful IoT innovations from emerging markets? What are the unique challenges and opportunities from these markets? How did the constraints in connectivity among others lead to groundbreaking insights? In her session at @ThingsExpo, Carmen Feliciano, a Principal at AMDG, will answer all these questions and share how you can apply IoT best practices and frameworks from the emerging markets to your own business.
Basho Technologies has announced the latest release of Basho Riak TS, version 1.3. Riak TS is an enterprise-grade NoSQL database optimized for Internet of Things (IoT). The open source version enables developers to download the software for free and use it in production as well as make contributions to the code and develop applications around Riak TS. Enhancements to Riak TS make it quick, easy and cost-effective to spin up an instance to test new ideas and build IoT applications. In addition to...
You think you know what’s in your data. But do you? Most organizations are now aware of the business intelligence represented by their data. Data science stands to take this to a level you never thought of – literally. The techniques of data science, when used with the capabilities of Big Data technologies, can make connections you had not yet imagined, helping you discover new insights and ask new questions of your data. In his session at @ThingsExpo, Sarbjit Sarkaria, data science team lead ...
Many private cloud projects were built to deliver self-service access to development and test resources. While those clouds delivered faster access to resources, they lacked visibility, control and security needed for production deployments. In their session at 18th Cloud Expo, Steve Anderson, Product Manager at BMC Software, and Rick Lefort, Principal Technical Marketing Consultant at BMC Software, discussed how a cloud designed for production operations not only helps accelerate developer in...