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16-Mar-17 IT Programming Contest

GL FINANCE Plc. Contributes to National Bank of Cambodia’s “Let’s Talk Money!” Comic Book Program

GL FINANCE Plc. (GLF) contributes to National Bank of Cambodia’s Program “Let’s Talk Money!” Comic Book in order to take part in educating Cambodian children on finance-related knowledge. This new initiative by the National Bank of Cambodia (NBC) was launched in the morning of February 28, 2017.

According to NBC’s Official Facebook Page, the purpose of the program is to provide education on financial knowledge to Cambodian children age 8 to 12. Held at Daun Penh Primary School, the “Let’s Talk Money” program was also presided over by H.E Neav Chanthana, Deputy Governor of NBC and participated from Dr. Mok Sarom, Deputy Director General of Education and representative of Ministry of Education, Youth and Sports. Moreover, there were also another 400 participants including representatives from banks and financial institutions, development partners, teachers and students welcomed to the event as well.

The contribution of GLF supports the training on the financial knowledge to children who are the next generation of Cambodia as they are the main manpower for the country to develop its finance sector along with the company. In addition, it helps them to have a precise understanding on the importance of an efficient cash management. It should be also noted that GLF’s vision is to become one and only rural area dominator in providing financial leasing services in Cambodia.

Source of Photos: NBC’s Official Facebook Page

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GL Using Cyprus to Spearhead Expansion into Eastern Europe, Africa & Latin America

GL Using Cyprus to Spearhead Expansion into Eastern Europe, Africa & Latin America
Back February 28, 2017

SET-listed digital finance firm Group Lease Public Company Limited (GL) has decided to set up an investments and financial services company in Cyprus to spearhead its expansion into Eastern Europe, Africa and Latin America.

Cyprus has been chosen as the springboard for GL’s global expansion because of its strategic location; it is a member of the European Union (EU) which is well known for its favorable taxation, legal and financial regimes making it ideal for GL to use as a center to raise funds and expand globally.

The strategic plan on global expansion came after GL has achieved historical-high profits of 1,062.82 million baht in 2016, which represents a whopping 82.34% increase from the year before. GL today (Feb 28) reported its 2016 audited financial statements to the SET, which were exactly the same as the unaudited numbers filed earlier.

“Our record-high profits, low D/E ratio of only one time and healthy balance sheets will help sustain our expansion globally,” GL chairman and chief executive officer Mitsuji Konoshita stated. The new expansion to Latin American is on top of earlier plans to expand to African and Eastern European countries.

Mr. Konoshita disclosed that GL has recently received a US$30 million credit line from one of the biggest banks in Brazil which can be used to support mergers and acquisitions or other financial services in Brazil or other countries in Latin America when the opportunities arise.

The flurry of overseas corporate activities underscore GL’s aggressive strategies to elevate itself into a world-class company after it has successfully expanded from its Thailand base into six other Asian countries namely Singapore, Cambodia, Laos, Myanmar, Indonesia and Sri Lanka.

Mr. Konoshita noted that GL has extended short-term investments and advisory services in Cyprus over the past two years on a trial basis before finally deciding to set up the new company there. “Now we are sure that Cyprus is the best place to do financial and investment services and even to raise funds globally to support our operations,” he stated.

Cyprus is a part of the European Union (EU) and the country is well-known as a center for the extension of investments and financial services into Eastern Europe and Africa because of its efficient taxation and legal regimes as well as favorable tax treaties with a lot of countries all over the world.

“We have decided to establish the investment and financial services company in Cyprus to accelerate our expansion into Eastern Europe and Africa as we have been contacted by many companies in those countries for collaboration in finance, leasing and micro finance services,” Mr. Konoshita stated.

He added that the Cyprus company will be set up shortly with an initial capitalization of about US$ 2-3 million.

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GL Q4/16 Profits Break New High

GL Q4/16 Profits Break New High

Back February 14, 2017

Fast-growing SET-listed digital finance firm Group Lease Public Company Limited (GL) has posted net profits of 324.4 million baht in the three-month period ending 2016, which marks a new record high for the ninth consecutive quarter. Adding that to the 738.4 million baht profits in the first nine months of the year, all-year 2016 profits topped 1,062.8 million baht, which represents a whopping 82.34% increase from the year before.

The all-year 2016 profits, which exceeded the management’s target of 1 billion baht, reflected improved financial performance in all the markets in which GL operates, particularly in the two key traditional markets of Thailand and Cambodia.

Significantly, the Q4/16 profits also took into account, for the first time, profit contributions from the listed Sri Lanka finance firm Commercial Credit & Finance (CCF), in which GL acquired a 29.99% stake since late last year.

In spite of the record-high profitability in 2016, GL chairman and chief executive Mitsuji Konoshita declared that the group’s performance will be even stronger in 2017 because of a combination of organic growth and more mergers & acquisitions (M&A).

For a start, GL will be able to consolidate full-year profits from its 29.99% stake in CCF. “CCF has a very successful operation; the company is making more profits than previously projected,” Mr. Konoshita stated. CCF’s previous estimates of US$ 30 million net profits for 2017 have now been revised upward to US$ 32 million.

Sri Lanka aside, GL’s operations in Myanmar are taking off on a full scale this year after the group took over full ownership of a micro-finance firm BG Microfinance Myanmar (BGMM) and struck a strategic partnership with Myanmar whisky tycoon Aung Moe Kyaw who also owns Century Finance, a local finance firm licensed by Myanmar’s central bank.

According to Mr. Konoshita, BGMM which now operates more than 30 branches in various parts of Myanmar is expected to extend small-scale and group loans totaling US$ 50 million this year while another GL joint venture with Century Finance which focuses on providing “channeling” services (securing clients on a fees-based basis for Century Finance) is expected to lend about the same amount of US$ 50 million. If these targets are met, the two operations would generate total portfolios worth a combined US$ 100 million.

Meanwhile, GL Finance Indonesia (GLFI) is reported to be expanding aggressively after taking off late last year. Mr. Konoshita reckoned the Indonesian portfolio will top US$ 200 million this year, comprising of various types of consumer and micro financing loans. Being the largest market in ASEAN with more than 250 million population, GLFI is projected to make substantial profit contributions to the group in the years to come.

As for the Cambodian market which has surpassed Thailand to become the biggest profits contributor to the group, Mr. Konoshita expected that GL Finance (GLF, the group’s wholly-owned subsidiary in Cambodia) will roughly double its outstanding portfolio to about US$ 400 million by end-2017.

Cambodia has become the success story for GL. Through an exclusive franchise with Honda, the most popular motorcycle brand there, GLF has dominated the motorcycle leasing market and expanded to cover Kubota agricultural machineries and solar panels. GL’s IT team has also developed a highly efficient and cost-effective digital finance platform which is now being applied in all other GL markets.

The GL chairman maintained that with GL’s digital finance platform and its efficient IT system, the group can expand very fast to new markets. The group now operates in seven countries – namely Thailand, Singapore, Cambodia, Laos, Myanmar, Indonesia and Sri Lanka. Mr. Konoshita has announced earlier that it will expand to 13 new markets in Africa and Eastern Europe this year, bringing GL’s corporate footprint to cover a total of 20 countries.

The aggressive expansion plan is crucial to GL’s strategic goal to become a “global” company.

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GLF get into contract with U.S. government agency, OPIC.

GLF get into contract with U.S. government agency, OPIC.

February 14, 2017

securing debt facility from WorldBusiness Capital Inc. with a guarantee from OPIC

“GL Finance PlC (Cambodia) is in the process of securing a $15 million senior debt facility from WorldBusiness Capital Inc (WBC 1). The facility will carry a guarantee from OPIC (*2) – a U.S. government agency based in Washington, DC. The loan application is presently in process and disbursement is expected to be completed towards Q2 of FY2017. All OPIC supported facilities require a US sponsor, and the investment from Creation Investments (*3) in Group Lease (Thailand) will act as a sponsor to this transaction. An OPIC supported facility will open doors for Group Lease to access additional financing in the future from OPIC as well as other Development Financial Institutions across the world.”

The main reasons for this tremendous opportunity are GL business is highly reviewed by OPIC and is recognized as helping development of people’s life and human rights. And also big supports from Creation Investments Capital Management who is a long term investor of Group Lease.

*1 WorldBusiness Capital, Inc. (WBC) is a commercial finance company based in Hartford, Connecticut, USA that offers flexible term loans helping businesses compete in the global marketplace. Founded in 2003, WBC is a direct lender staffed by multilingual professionals with many years of experience in cross-border trade and project finance and a proven track record of successfully closed loans around the world, in a variety of sectors. WBC focuses on lending to businesses in asset-intensive sectors such as manufacturing, distribution, logistics, transportation, agribusiness, food processing, packaging, renewables, equipment leasing, and commercial finance. Borrowers generally have annual revenue in the range of $10 million to $150 million. All borrowers must have some form of “U.S. affiliation”. WBC is an approved guaranteed lending partner of the Overseas Private Investment Corporation (OPIC), the U.S. Government’s development finance institution.

*2 OPIC mobilizes private capital to help U.S. businesses invest in emerging markets, catalyzing revenues, jobs and growth opportunities both in the U.S. and abroad. As of September 30, 2016, OPIC’s project portfolio totaled $21.5 billion.” OPIC achieves its mission by providing investors with financing, political risk insurance, and support for private equity investment funds, when commercial funding cannot be obtained elsewhere. Established as an agency of the U.S. Government in 1971, OPIC operates on a self-sustaining basis at no net cost to American taxpayers.

All OPIC projects adhere to high environmental and social standards and respect human rights, including worker’s rights. By mandating high standards, OPIC aims to raise the industry and regional standards in countries where it funds projects. OPIC services are available for new and expanding business enterprises in more than 160 countries worldwide.

*3 Creation Investments Capital Management is a private equity firm focused on financial services in emerging markets. Base in Chicago, the firm currently manages 15 platform investments in financial institutions across Latin America, South Asia, Southeast Asia and Eastern Europe. Through Creation’s portfolio companies, the firm serves over 7 million unbanked/under banked individuals and small businesses with needed financial services totaling US $5 billion in loans outstanding. Creation’s investors include leading institutional investors and family offices dedicated to achieving attractive financial returns and social impact.

Creation is GL shareholder for 2 years already of GL and GL new CD (20MUSD) underwriter

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February 08, 2017
Which is located on Road 21 opposite ACLEDA Bank of Prek Run Kroum village, Prek Keoy commune,
Saang District, Kandal Province.
Customers can lease (installment) motorcycle with GL Finance PLC. at HONDA Dealer LEAP
SAMBO from now onwards.
For more information:

  • Contact us 096 60 60 666
  • or visit our online leasing website:
News 2017 Newsroom



Group Lease PCL. and its subsidiaries by Mr. Muneo Tashiro (Director and Chief Operating
Officer) Donated Baht 100,000 to help flood victims in southern parts of Thailand via The Thai Red
Cross Society by M.R. Priyangsri Watanakun (Assistant Secretary General in Fund Raising & Director
of Fund Raising Bureau) and Mrs. Janprapa Vichitcholchai (Deputy Director of Fund Raising Bureau)

News 2017 Newsroom

GL Expanding to 20 Countries in 2017

GL Expanding to 20 Countries in 2017
January 04, 2017
In its quest to become a “global” company, SET-listed digital usnance usrm Group Lease Public Company
Limited (GL) is embarking on another major expansion program in 2017 that will see its fast-growing
model of digital-usnance business extending from Asia to Africa and Eastern Europe. The target is
to expand its corporate footprint from seven countries in Asia at present to 20 countries worldwide
this year.
“Our model of digital-usnance platform can apply to any countries. That is why we can expand very fast,”
GL chairman and chief executive orscer Mitsuji Konoshita stated. Having just returned from visiting
South African, Mr. Konoshita said he saw enormous growth potentials in Africa as a whole as well as the
emerging economies in Eastern Europe.
From its home base in Thailand, GL has expanded to six other countries in Asia – namely Singapore, Cambodia,
Laos, Myanmar, Indonesia and Sri Lanka. According to Mr. Konoshita, the target this year is to
expand GL’s type of consumer usnance blending with IT business to 13 more countries in Africa and Eastern
Europe, thus boosting GL’s total worldwide corporate presence to 20 countries.
Under Mr. Konoshita’s chairmanship, GL has been particularly successful in expanding to the booming
markets in the ASEAN region in recent years. Aided by an erscient and cost-egsective digital usnance platform
developed by GL’s own IT team, prousts have continued to climb steadily.
The 260.41 million baht net prousts in Q3 2016 marked the eighth consecutive quarter of record-high
prousts and raised total nine-month prousts last year to 738 million baht. Given the continuous robust
growth of the Cambodian market and the huge growth potentials of the relatively untapped market in
Indonesia, senior executives are conusdent that quarterly prousts will continue to break new records from
here on.
GL’s shareholders in early December gave their consent to the company’s plans to acquire 29.99% of
Commercial Credit & Finance PLC (CCF), a highly proustable usnance company listed on the Sri Lanka stock
exchange, and full ownership of BG Microusnance Myanmar (BGMM), a microusnance usrm in the newly
emerging and booming market of Myanmar.
These acquisitions – coupled with the recent entry into Indonesia, the largest market in ASEAN with
more than 250 million population — were part of an aggressive expansion plan that GL’s senior executives
described as the “Great Leap Forward”.
A combination of organic growth (such as the highly successful businesses in Cambodia and, more
recently, Indonesia) plus mergers and acquisitions (such as the CCF and BGMM deals) will drive this new
phase of major expansion.
Company executives are bullish on the CCF acquisition since it is a well-managed and highly proustable
company. CCF has projected to generate net prousts of US$22 million this year, rising to about US$30
million next year. Having completed the 29.99% acquisition of CCF, GL will start consolidating its share of
the CCF prousts in Q4 of 2016.
They are now projecting that prousts in 2017 will further double from the anticipated 1 billion baht in
2016 – thanks to proust contributions from the recent acquisitions plus additional revenues from other
existing operations in the region.
Looking ahead, GL’s chairman Mr. Konoshita said the “Great Leap Forward” strategy will see the company
expanding its corporate outreach from Asia to Africa and Eastern Europe to pursue its quest to become
a truly “global” company.
He added that he recently visited South Africa, the center of the African continent, and was very
impressed by the economic dynamism there. Likewise, he also foresaw huge growth potentials in
various emerging economies in Eastern Europe.
Unlike the traditional usnancial institutions which tend to focus on cities and developed urban areas, GL
has speciuscally targeted the mass population in the rural countryside, or the grassroots people who have
emerged from the poverty line and now can agsord some modern amenities such as motorcycles, agricultural
machinery or electrical appliances to improve their economic livelihood and quality of life.
By blending high-margin consumer usnancing with erscient but low-cost IT, GL has been able to score
rapid business expansion with high proustability. The end objective is to become a global company serving
some 2.5 billion clients.

News 2017 Newsroom

GL’s Key Regional Investment Plans Get Shareholders’ Green Light

GL’s Key Regional Investment Plans Get Shareholders’ Green Light
December 07, 2016
Shareholders of Group Lease Public Company Limited (GL), Asean’s leading digital usnance usrm, gave
approval to the proposal to acquire shares in two usnance usrms in Sri Lanka and Myanmar as part of
its ambitious plan to become one of the “world-class” players.
With such approval, GL will acquire 22.27% shares in Commercial Credit and Finance PLC (CCF), a leading
usnance usrm listed on Sri Lanka stock market, as part of the company’s plan to acquire a total of 29.99%
equity stake in CCF. The acquisition of the remaining 7.72% shares from its two existing shareholders–which
does not involve connected transactions – is not subject to shareholders’ approval.
Such acquisitions will boost earning’s growth for GL from the proust sharing of around USD 7 million from
CCF to be booked in Q4 and more to come next year and beyond.
The GL’s shareholders also approved a proposed acquisition of all shares in BG Microusnance Myanmar
Co., Ltd., a microusnance usrm in Myanmar, to tap the high loan demand in the newly opened economy, as
well as a proposed issuance of debentures to usnance the expansion.
Mr. Mitsuji Konoshita, Chairman of the Board of Directors and Chief Executive Orscer of GL, revealed
the shareholders’ resolution, at the company’s extraordinary general meeting No. 2/2016 on December
6, 2016, to approve the proposed moves to expand the company’s presence in the digital usnance markets
in the Asean and Asian regions, which will be the new engine of growth for the company.
The acquisition will be made through Group Lease Holdings PTE. Ltd (GLH), a subsidiary registered on
the Singapore Exchange (SGX), buying 22.27% shares in Commercial Credit and Finance PLC (CCF) from
Creation Investments Sri Lanka LLC (Creation SL). CCF is a leading usnance usrm listed on Sri Lanka’s stock
market with about one million customers and that will help GL to widen its geographical scope of operations
beyond Asean to cover Sri Lanka, a growing South Asian market.
The 22.27% share acquisition will be part of the plan to hold a total of 29.99% shares in CCF, he said,
adding that GLH has purchased the digserence of 7.72% from two shareholders, i.e. BG Investments (PVT)
Ltd. and Mr. Stephen L Lafrance Jr. The purchases, which were not connected transactions, did not
require shareholder approval.
The combined value of the investments in CCF will reach THB 2.514 billion (about LKR 10.58835 billion).
The CFF investments will improve GL’s performance beginning Q4 of 2016, as about USD 7 million (or
about THB 244.6 million) will be posted as a proust sharing from CCF, whose proust for this year is estimated
to be around US$22 million and around US$30 million for 2017.
The deal will also enable GL to have access to microusnance know-hows, which can be used to apply for
credit expansions in Cambodia, Laos, Indonesia and Thailand.
Mr. Mitsuji added that GL’s shareholders also resolved to approve a proposed THB 277.24 million acquisition,
to be executed by GL and/or through GLH, of all 1,387,680 issued and paid-up ordinary shares in BG
Microusnance Myanmar Co., Ltd. (BGMM), a microusnance usrm in Myanmar, at about US$5.77 (about THB
199.79) per share.
The BGMM acquisition will allow GL to immediately expand microusnance business in Myanmar, a country
with a population of more than 50 million and huge loan demand. The deal means there is no need
for GL to go through the dirscult process of applying for a new microcredit business license from the
Central Bank of Myanmar. Having been in operation for more than two years, BGMM has nearly 10,000
customers and a loan portfolio worth more than US$1.2 million (about THB 41.9 million).
GL’s shareholders, at an extraordinary general meeting, also approved proposed issuance of convertible
debentures valued up to US$70 million to international investors on a private placement basis. Up to
US$50 million convertible debentures will be allotted to JTrust Asia (JTA), a strategic partner in Indonesia,
to usnance expansions and secure working capital for GL’s digital usnance business, and US$20 million
convertible debentures to Creation SL, a partner in Sri Lanka, to raise funds for continued expansion. The
debentures will have a three-year maturity period and a conversion price of THB 70 per share.
“The shareholders’ approvals will enable GL to increase its presence across the Asean and Asian regions
at rapid rate and reach its performance goals and become a world-class digital usnance usrm,” said the