Logo of Phnom Penh Post newspaper Phnom Penh Post - Japan’s ReNet enters auto leasing market

Japan’s ReNet enters auto leasing market

Content image - Phnom Penh Post
Cars on display in front of a capital shop. In a press release on Wednesday, Renet Japan Group Inc has launched an auto leasing service in Cambodia in a bid to benefit from a growing market. Post Pix

Japan’s ReNet enters auto leasing market

Renet Japan Group Inc has launched an auto leasing service in Cambodia in a bid to benefit from a growing market.

In a press release on Wednesday, ReNet Japan Group said it is a licensing company for the mobility leasing services arm of Mobility Finance Cambodia Plc, a joint venture with SBI Holdings Inc, which is engaged in internet financial services.

It said it had already obtained approval from the Ministry of Commerce.

“With the growth of the Cambodian market, the number of users who acquire cars by loan or lease is rapidly expanding, and the provision of new services is required,” the press release said.

Mobility Finance Cambodia utilises internet technology and automatic GPS tracking systems to conduct credit scoring and identify the locations of vehicles and equipment, it said.

It aims to offer the lowest level of leasing interest rates in the sector and achieve at least 1,500 leased units per year.

The firm had taken over a local leasing firm, ELIN Leasing Plc, and renamed it, in which it holds a 51 per cent stake, with SBI having the remaining 49 per cent, said NNA Japan news agency.

According to NNA, the Japanese group posted an 88.9 per cent surge in sales to 8.57 billion yen ($78.5 million) in the last fiscal year, mostly driven by the rapid business growth in Cambodia.

For business in Cambodia, it saw an over 12-fold increase in operating profit, up more than six-fold from a year earlier, financial statements show.


  • Would you like fries with that? US burger chain makes Phnom Penh debut

    California-based The Habit Burger Grill restaurant chain is all set to serve up a delicious array of charbroiled burgers and sides at its newest international location in the centre of Phnom Penh. The Habit is “renowned for its award-winning Charburgers grilled over an open flame,

  • Banteay Meanchey flood victims receive aid

    Prime Minister Hun Sen on Wednesday provided aid to more than 10,000 families affected by flooding in Banteay Meanchey province’s Mongkol Borei district and offered his condolences to the 18 victims who drowned in the province over the past week. He said flooding had occured in

  • PM urges caution as Polish man tests positive for Covid

    The Ministry of Health on Wednesday reported that a 47-year-old Polish man tested positive for Covid-19 after arriving in Cambodia on Monday. There are a total of six Covid-19 patients currently in the country, all of whom are being treated at the Khmer-Soviet Friendship Hospital

  • Banteay Meanchey floods kill one more as death toll reaches 15

    As floodwaters start to recede in Pursat, Battambang and Pailin provinces and Phnom Penh, Banteay Meanchey continues to bear the brunt as one more person was killed on Monday, bringing the total number of flood-related deaths to 15 in the province this month. Banteay Meanchey provincial

  • Serving coffee with a side of robots

    The eye-catching glass building surrounded by greenery at the intersection of Streets 371 and 2002 in Phnom Penh’s Sen Sok district is more than just another coffee shop where you can while away a few hours. UrHobby House cafe is filled with robots and characters from

  • Floods prompt evacuations in Kampong Speu

    Rain-induced floods and water flowing from Kampong Speu province have submerged the houses of 1,527 families living close to the Prek Thnot River in Spean Thma, Tien, Kong Noy and Roluos communes in Phnom Penh’s Dangkor district, according to data from local authorities. Spean Thma