‘We are committed to continue growing in partnership with our customers in Singapore and ASEAN.’

Shunichi Asada,
President & CEO,
Century Tokyo Leasing Corporation

“We established operations in Singapore in 1979”, says Shunichi Asada, President and Chief Executive Officer of TC-Lease. “We anticipated that our operations in Singapore would become a significant part of our business. Singapore has exceeded our expectations and we anticipate our business to continue developing in the future”.

TC-Lease has established a network of offices throughout the Asian region in Thailand, Malaysia, Singapore and Indonesia. The company’s local subsidiary in Singapore, Century Tokyo Leasing (Singapore) Pte. Ltd., is the largest of the company’s international business entities by
balance of assets.

“Singapore is a hub for our ASEAN business and also our control centre”, explains Asada. “While Singapore remains our biggest market, Thailand and Indonesia represent huge business opportunities for us to partner with the large number of Japanese corporates with a presence in these markets. The strong demand in these growing economies creates tremendous business opportunities as we move forward.”

In Singapore, the main services offered by the company are automobile financing, equipment financing and vendor lease programs. The company began offering automotive financing in 1997 and this continues to be a key business driver for the company representing eighty-eight percent of their total sales today. Both new and used vehicle financing is provided through authorized agents. Century Tokyo Leasing (Singapore) Pte. Ltd. also provides floor stock financing for its network of dealers.

Equipment financing and vendor leasing are designed to help customer’s businesses grow. The rationale of TC-Lease’s equipment financing solutions is that the company facilitates lump purchases and enables customers to make payments by instalment. This scheme makes it possible for customers to avoid huge costs at the time of their initial capital investment and it is provided based on the customer’s repayment capabilities. Vendor leasing is structured to support manufacturers, distributors and resellers. By collaborating closely with customers or vendors and providing value added services, the company has developed a strong competitive edge in Singapore.

“Singapore’s economic growth is founded on political stability and Singapore’s government actively encourages private sector growth for the good of the country”, says Asada. “We are committed to continue growing in partnership with our customers in Singapore and ASEAN. We will contribute to society as a comprehensive financing services company by developing services that transcend the business domains of leasing and financing”.