Group Lease boosts Singapore unit to fund Cambodia operation
Group Lease has decided to raise the capital of its wholly owned Singaporean subsidiary Group Lease Holdings to serve as the main funding source for its Cambodian motorcycle leasing operations after six months of satisfactory trial operations there. … Cambodia, which is managed by Group Lease’s wholly owned subsidiary GL Finance, will increase its accounts to 1,000 next month and 2,000 next quarter as planned. … To ensure that the financial resources for the Cambodian operations are adequate and to comply with the National Bank of Cambodia’s regulations on capital sufficiency, the registered capital of the Singapore unit will be raised from 3 million Singapore dollars (Bt69.75 million) to S$4.6 million, while paid-up capital will increase from S$757.500 to the full S$4.6 million, according to a filing to the Stock Exchange of Thailand. …
