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Home  >>   Daily News  >>   Cambodia News  >> Investment  >> Financial leasing firm expands into agriculture
NEWS UPDATES Asean Affairs   10 September 2013  
Financial leasing firm expands into agriculture

GL Finance, Cambodia’s first financial leasing company, is expanding its business through the leasing of agricultural machinery from Thailand-based Siam Kubota Corporation Company Limited in an effort to tap into a growing market.

Kubota, a joint venture between Kubota Corporation (Japan) and Thailand’s Siam Cement Group, signed the authorising Memorandum of Understanding last week with GLF’s parent company.

“Cambodia is an agricultural-based economy and farm machineries are crucial to support its economic growth,” said Mitsuji Konoshita, chairman and chief executive of GLF’s parent Group Lease Public Company Limited.

“Therefore, there are still plenty of growth potentials in the future.”

Kubota plans to establish its own company called Kubota Cambodia Co Ltd in Phnom Penh in 2014. Sales are forecast to reach 5 billion baht ($155 million) in 2015.

Set up last year, GL Finance focuses on leasing motorbikes and has 15 points of sale in Phnom Penh, Battambang and Rattanakiri, with plans for 26 more this year.



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ASEAN  ANALYSIS

This year in Thailand-what next?

AseanAffairs   04 January 2011
By David Swartzentruber      

It is commonplace in journalism to write two types of articles at the transition point between the year that has passed and the New Year. As this writer qualifies as an “old hand” in observing Thailand with a track record dating back 14 years, it is time take a shot at what may unfold in Thailand in 2011.

The first issue that can’t be answered is the health of Thailand’s beloved King Bhumibol, who is now 83 years old. He is the world's longest reigning monarch, but elaborate birthday celebrations in December failed to mask concern over his health. More

 


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