Venture to serve ASEAN<\/p>\n
SINGAPORE (AFP): Sembawang Capital Pte. Ltd. of Singapore has
\njoined hands with AT and T Credit Corp. of the United States to
\nprovide financial services in Southeast Asia, officials said
\nyesterday.<\/p>\n
The joint venture, called the Capita Corp. Singapore Pte.
\nLtd., will begin operations by providing leasing and financing
\nequipment sales of U.S. telecom giant American Telephone and
\nTelegraph Co. (AT and T) in Singapore and elsewhere in the ASEAN
\nregion.<\/p>\n
The equipment includes telecommunications, general-purpose
\noffice, information technology and transport systems.<\/p>\n
\"After establishing a firm base in Singapore, the company may
\nembark on similar businesses in the region by forming joint
\nventures with established institutions and local partners,\" a
\nstatement by Sembawang Capital said.<\/p>\n
Singapore is a member of the Association of Southeast Asian
\nNations (ASEAN), which also groups Brunei, Indonesia, Malaysia,
\nthe Philippines, Thailand and Vietnam.<\/p>\n
The joint venture expects to achieve a turnover of S$90
\nmillion (US$64 million) in five years with assets of S$175
\nmillion.<\/p>\n
\"Approximately 3,000 multinational companies operate in the
\nASEAN region, with many of them using Singapore as their regional
\nheadquarters,\" said Irving Rothmans, executive vice president of
\nAT and T Capital Corp.<\/p>\n
\"As a gateway to Southeast Asia, Singapore is the ideal
\nlocation for overseeing business in fast-growing countries such
\nas Malaysia, Indonesia, Thailand, Vietnam, the Philippines and
\nBrunei,\" he added.<\/p>\n
AT and T Capital is the parent of AT and T Credit Corp., the
\nlargest listed leasing and finance company in the United States.
\nThe company leases and finances equipment to about 500,000
\nbusinesses in the United States, Canada, Latin America, Europe
\nand Asia.<\/p>\n
Sembawang Capital, a leading leasing and financial institution
\nhere, is part of the diversified Sembawang group.<\/p>",
"url": "https:\/\/jawawa.id\/newsitem\/venture-to-serve-asean-1447893297",
"image": ""
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"sponsor": "Okusi Associates",
"sponsor_url": "https:\/\/okusiassociates.com"
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