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GL targeting aggressive regional expansion
Group Lease, a digital financial firm, plans to raise Bt2 billion by issuing debentures this year to finance aggressive regional expansion and possible mergers and acquisitions.
Its board this week resolved to raise the ceiling for the issuance of debentures to Bt2.5 billion from the Bt2 billion approved by shareholders earlier. Since some Bt500 million has already been used, the remaining amount is Bt2 billion.
Tatsuya Konoshita, executive director and chief investor-relations officer, said yesterday that the proceeds would finance aggressive expansion into Cambodia, Laos, Myanmar, Vietnam and Indonesia and possible takeovers of finance-related businesses in the region.
GL’s profit soared 400 per cent to a record Bt582.89 million last year, thanks to boosts from both Thai and overseas operations, particularly in Cambodia, where the company has been very successful.
The company will likely achieve another record-high profit for the first quarter of this year.
Asset quality in the Thai operations has been further improved.
The non-performing-loan (NPL) ratio has been cut from 7.3 per cent last year to 6.5 per cent now and will continue to improve.
Operations in Cambodia have continued to improve markedly.
“Our sales [in Cambodia] roughly doubled from 1,200 units in February last year to about 2,200 units in February this year, but our profits have tripled because of the fixed costs,” Konoshita said.
UAC Global plans to enter Myanmar
UAC Global plans to enter Myanmar, to expand its client base, boost annual chemical-production capacity by 10,000 tonnes and establish business alliances abroad to distribute products in Cambodia and Laos and other foreign countries thereafter.
Managing director Chatchaphol Prasopchoke said Myanmar offered good business potential for the company’s chemical products and would be the springboard for future expansion into Laos and Cambodia.
Currently, UAC Global’s chemical products are undergoing tests to ensure optimal efficiency.
The company aims to increase |its annual production capacity for chemical products by 10,000 tonnes. |The expansion is expected to be completed by mid-2017.
It plans to increase its share of the chemical-products market through the UAPC flagship banner, with the goal of expanding into making products for oil refineries. UAC Global is also negotiating with potential foreign business alliances that will serve as distributors for its products, Chatchaphol said.
This year, UAC Global targets Bt1.80 billion in revenue, a 20-per-cent increase over last year’s Bt1.54 billion. Revenue will be derived from trading activities, UAPC chemical products and alternative-energy business.
UAC Global sees foreign business accounting for 20-30 per cent of revenue by 2018.
AIA inaugurates leadership centre
AIA Group has opened the AIA Leadership Centre (ALC) in Bangkok. The centre is meant to enhance the capabilities of AIA’s senior executives and distribution leaders across the region.
Mark Tucker, president and chief executive officer, and Finance Minister Apisak Tantivorawong presided over the opening ceremony.
That coincided with the grand opening of AIA Sathorn Tower, an award-winning and world-class office tower owned and developed by AIA, and in which the ALC is located.
Tan Kar Hor will serve as dean of the centre, leading a team of experienced faculty members who combine strong business acumen with a deep understanding of the financial-services industry.
The ALC will partner with a network of acclaimed institutions to develop customised programmes designed to deliver optimal value to participants.
Partners include Insead, a business school, and Limra, a worldwide research, learning and development organisation.
The curricula focus on leadership capabilities in three major areas:
lExecutive – Programmes that accelerate effective and sustainable leadership as well as general management capabilities;
lDistribution – Programmes that develop the leadership skills required for AIA’s senior distribution leaders to produce consistently best-in-class results;
lTechnical – Develops the capabilities of AIA core functions through promoting operating excellence and supporting AIA to remain best-in-class.
CRC Sports targets 13% sales growth
CRC Sports Co, a division of Central Group, Thailand’s largest retail conglomerate, aims to invest Bt485 million to grow sales by 13 per cent to Bt9.01 billion this year.
Last year, the company increased sales by 15 per cent to Bt8 billion and profit by 20 per cent.
For its domestic investment, 23 stores are confirmed to be opened this year, including Supersports CentralPlaza Nakhon Si Thammarat in August, Supersports Robinson Lifestyle Centre Lop Buri in November and Supersports CentralPlaza Nakhon Ratchasima in the fourth quarter.
In Vietnam, it will open a Supersports store, two Crocs stores and two New Balance stores.
It now has 10 Supersports stores, seven Crocs stores, three New Balance stores and one Speedo 1 store in that country.
