Currently, the Company’s vision is to be a “Digital Finance Platform Provider for Billions” in ASEAN and beyond.
In 2012, the Company expanded into Cambodia with the first Finance Leasing License from the National Bank of Cambodia, received exclusive rights of HONDA motorcycle leasing in Cambodia, and signed a MOU to form a business partnership with Siam Kubota Corporation Co.,Ltd., the leading manufacturer of agricultural equipment in Cambodia. The business model in Cambodia is the ‘Digital Finance Platform Provider’, a combination of a Technology Oriented model coupled with an internally developed software ‘E-Finance’ and Site-Job Oriented model using our widespread and high density Point of Sales (POS) network. From GL’s point of view, the increasing new middle class population in rural areas is the key to success and our target for further business expansion. The Technology Oriented software network and POS network has a low operating cost, is capital light, and quickly expandable to meet demand.
In Laos, the Company began operating in May 2015 using the same successful, proven business model in Cambodia. Due to this strategy, operations in Laos began contributing to consolidated net profits within four months and GL achieved top market share during this time as well. In 2016, following the same strategy, we began operating in Indonesia, which the most populated country in ASEAN, and reached profitability in the first quarter of operations. We also entered Sri Lanka and Myanmar through acquisitions.