22 March 2014
Japanese conglomerate Aeon is likely to expand its business into five countries in Southeast Asia including Thailand if those countries provide a high growth rate in the next few years. That is especially the case for Cambodia, Laos and Myanmar.
Aeon Group has assigned Aeon Thana Sinsap (ATS) in Thailand to oversee microfinance and leasing businesses in Cambodia, Myanmar and Laos through the latter's wholly owned subsidiaries. ATS holds a 20% stake in Aeon's leasing business in Vietnam.
Aeon in Japan was looking at increasing its investment in the region once the new markets showed good prospects. The company's wholly owned subsidiaries in Cambodia and a subsidiary in Vietnam generated 5% of ATS profits, which the company hoped would double to 10% within 3 to 5 years as Laos and Myanmar gradually generated a profit.
15,000 CONSUMER FINANCE CUSTOMERS IN CAMBODIA
Aeon in Cambodia has two branches with a customer base of 15,000 but plans to open more. ATS hoped that its consumer-finance net profit in Cambodia would be accelerated when Aeon opens in a shopping mall in that country midyear. Aeon Cambodia provides leasing for motorcycles, home appliances and mobile phones and Cambodia was a high-growth market.
On the other hand, two subsidiaries in Myanmar and Laos that opened last year were not generating a profit yet but the company hoped that in the next 2 or 3 years both markets would start contributing. In Vietnam last year, the company reported consumer-finance net profit of Bt50 million to Bt60 million, while ATS 2013 net profit as at the end of November was Bt1.89 billion.
Source:
http://thecambodiaherald.com/cambodia/detail/1?page=13&token=NzNhOWY1N2E3ZTU#sthash.u8SH4LLy.dpuf
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