Chailease Holding Co (中租控股), the nation’s top leasing services provider, is to press ahead with expansion plans in Russia and Thailand, citing strong business opportunities despite political risks, top executives said last week.
“Chailease will stick with plans to explore the Russian market and continue business in Thailand as long as long-term outlook lends support to expansion,” company spokesman Kevin Liao (廖英智) said last week.
Chailease has 21 offices in Thailand and posted a representative office in Russia, attracted by the former’s fast-growing leasing demand and the latter’s emerging market, Liao said.
However, turmoil slowed revenue growth in Thailand to between 5 and 10 percent so far this year, softer than the company’s previous forecast between 15 and 20 percent, Liao said.
The slowdown has very limited impact on the company, as its Taiwanese market fares stronger, with a 20 percent business increase from last year’s level, compared with an earlier estimate of a 15 percent gain, he said.
Chailease is constantly looking for new customers, who account for 50 percent of its client base, Liao said, adding that the strategy makes the company less vulnerable to economic cycles.
Consequently, Chailease plans to add four to five new offices in China, from the current 25, unaffected by the economic easing, he said.
Apart from the capital leasing business, Chailease is deepening its presence in the local hospitality and restaurant market, affiliated Grand Pacific Investment & Development Holding Co (中實控股) chairman John Huang (黃炳彰) said.
Grand Pacific, which operates the Park City Hotel chain (成旅晶贊), plans to open a new restaurant each year, as that industry is also less subject to business cycles.
The hotel chain, which owns 691 rooms overall — 324 in Taiwan — aims to create NT$1 billion (US$33.28 million) in revenue this year, up 24 percent from last year, Huang said.
The hotel chain may seek primary listing in local bourses after reaching a satisfactory scale, Huang said without elaborating.
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