SUSCO and IFS partner to launch Beyond Leasing Co., Ltd.

Mr. Chairit Simaroj, Chairman of the Board of Executive Directors and Managing Director and Mr. Phongsathorn Chatnarat, Deputy Managing Director of Business Development of SUSCO Public Company Limited (SUSCO), together with Mr. Tan Ley Yen, Chief Executive Officer and Mr. Paknam Sarakul, General Manager, Client Relations Department of IFS Capital (Thailand) Public Company Limited (IFS) signed a joint-venture agreement to establish Beyond Leasing Co., Ltd. as a financial services provider in the form of Operating Lease, Financial Lease, Hire-Purchase, and other related financial services.  

"SUSCO aims to expand beyond fuel distribution," said Mr. Chairit Simaroj. "The company's subsidiary, Susco Beyond Co., Ltd., who is a dealer in electric vehicles, currently has 10 showrooms in Bangkok, Ayutthaya, Ang Thong and Singburi to tap the rising demand for electric vehicles among businesses, state enterprises and government agencies, and have decided to enter in to a joint-venture with IFS Capital (Thailand) Public Company Limited (IFS), who is the leader in the factoring business supporting the SMEs in Thailand for more than 30 years, to establish Beyond Leasing Co., Ltd. The focus initially will be the Operating Lease or car rental business but with the aim of expanding into other related financial services in the near future.”

"IFS is delighted to partner with a strong and well-established company like SUSCO," said Mr. Tan Ley Yen, the CEO of IFS. "We are confident that this joint-venture will be a success as it combines SUSCO's experience in the electric vehicles business with IFS' expertise in financial services and credit risk management. The electric vehicles market is poised for significant growth, driven by the government’s initiatives in promoting the use of sustainable green energy."

Beyond Leasing is expected to commence operations very soon and within June of this year.