Taiwan Firm Acquires Royal Group’s Cellcard Finance Plc

• 17 September 2018
• Local News
• 4273 Views

Taiwan financial leasing firm Chailease Holding has acquired 60% of Royal Group’s Cellcard Finance PLC, Cambodia’s diversified business conglomerate, according to an article published by The Taipei Times on 17 September, 2018.

Announced on Thursday, the deal was made as part of Chailease Holding’s expansion plan into the Southeast Asia market, said Chailease Holding Chairman Mr Albert Chen.

According to Mr Albert Chen, Royal Group’s Cellcard Finance will be renamed to Chailese Royal Finance PLC upon receiving approval from the regulator.

Meanwhile, the two companies Royal Group and Chailease set up a joint venture in late 2016 which provides leasing and other financial services for Cambodian vehicles, machinery equipment and construction tools, according to the same source.

According to Bloomberg’s company review, Chailease Holding is an international financial leasing firm providing a wide range of leasing services such as transportation equipment, industrial equipment, wholesale and retail, and construction industries across Taiwan, China, Thailand, and internationally.

• Business and Market
• Economy and Finance