GL confirms that there is no impact on the ownership of GLHs assets and GLH can still operate ordinary course of business

Stocks and Financial Services Press Releases Tuesday June 5, 2018 15:53
Bangkok--5 Jun--SiamPR Consultant

As previously disclosed through The Stock Exchange of Thailand on 4 June 2018, GL would like to confirm that the injunction order does not prohibit Group Lease Holdings Pte. Ltd. from carrying out its ordinary course of business, therefore GLH will be able to operate business as usual. The Company is also confident that GL Group will be able to win all legal cases.

Mr. Tatsuya Konoshita, GL Director and Chief Executive Officer, informed that, the order does not prohibit GLH from dealing with or disposing of its assets in the ordinary and proper course of business and the order will take effect until the civil action between JTA and GLH in Singapore ends. And as previously mentioned, the order did not impact the ownership of GLH's assets as all GLH assets remain with GLH and are not under the control of JTA or any court.

Mr. Tatsuya Konoshita concludes that GL Group's business direction remains unchanged. The management team continues to strongly believe that GL Group's business will continue to perform well and show good results. Additionally, management is confident that GL Group will win the outstanding court cases both in Thailand and Singapore.

Latest Press Release

Thanachart Bank posts strong first quarter profit growth

Thanachart Bank Public Company Limited reported net profit of 3,650 million baht for the three months ending 31 March 2019, with pre-tax earnings increasing 18.7% compared to the same period last year. Mr. Praphan Anupongongarch, CEO and President of...

Bangkok Bank reports first quarter 2019 net profit of Baht 9,028 million

Thailand's economic growth in 2019 is expected to be 3.8 percent, decreasing from 4.1 percent in 2018. Amid slower world trade and risks from the US trade policies, exports declined for the first two months of the year. This has squeezed manufacturing...

KASIKORNBANK announces the first quarter of 2019 net profit of Baht 10,044 Million

Mr. Predee Daochai, President of KASIKORNBANK, said although domestic economic activities continued to grow during the first quarter of 2019, the overall economic recovery remained weak on the back of the slowing growth in the export and tourism sectors...


Siam Commercial Bank and its subsidiaries reported (unreviewed) consolidated net profit of Baht 9.2 billion for the first quarter of 2019. Though net profit was down 19% yoy mainly from a one-time increase in personnel-related expenses (severance pay)...

TMB aims to expand customer base with Get MORE with TMB strategy, which has resulted in continuous growth in deposit.

TMB aims to expand customer base with Get MORE with TMB strategy, which has resulted in continuous growth in deposit. The Bank remains prudent on loan side. Asset quality is well-managed as target. The net profit for the first quarter of 2019 recoded at...

Related Topics