Aeon eyes major Asean expansion
Aeon Thana Sinsap (Thailand) plans aggressive business expansion both here and in neighbouring countries. The leading Japanese non-bank company is using Thailand as a centre to expand its businesses in other Asean countries. Aeon Thana Sinsap plans to offer more financial services in Cambodia, Vietnam, Laos and Myanmar, starting with secure hire-purchase loans, said director Jun Suzuki, who joined the company in April. He said the company will also increase capital in its wholly owned Cambodian subsidiary next year to support the expansion. Aeon has only one branch in Cambodia, but loan growth there has been strong at 10% per month on average on the back of double-digit economic growth in recent years. The 10-month-old Cambodian branch had a customer base of 6,000 as of June, projected to exceed 10,000 by year-end. “We expect the Cambodian branch to break even in two years instead of three as forecast earlier based on the normal growth rate of overseas branch expansion,” said Mr Suzuki. …
http://www.bangkokpost.com/business/economics/323617/aeon-eyes-major-asean-expansion
