Expanding Digital Finance into Myanmar and South Asia through M&A and Subsidiarisation
First written in FY2017-Q2. 1 of 2 entries say "Restated". Latest entry: FY2017-Q3.
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- FY2017-Q3RestatedAnnual report
「During the second quarter consolidated accounting period, GLH additionally acquired shares of BGMM and made it a subsidiary, so BGMM was included in the scope of consolidation. CAL was excluded from the scope of equity-method application following a decrease in the ownership ratio. In addition, during the second quarter consolidated accounting period, GLH jointly invested with AMK Consortium to establish GL-AMMK Co.,Ltd. in the Republic of the Union of Myanmar, so that company was included in the scope of consolidation.」
The inclusion of BGMM as a subsidiary and the establishment of a joint company in Myanmar with AMK Consortium continue to be confirmed as changes in the scope of consolidation. - FY2017-Q2First statedAnnual report
「By acquiring shares in BGMM, GL can establish a foothold for expansion into South Asia, accelerate BGMM's growth and expand its Digital Finance business not only in existing markets but also in all markets it enters in the future.」
The company acquired 29.99% of CCF, made BG Microfinance Myanmar Co.,Ltd. a subsidiary with 100% voting rights through an additional acquisition, and jointly established GL-AMMK Co.,Ltd. in Myanmar. BGMM's inclusion as a subsidiary is positioned as a foothold for South Asian expansion and as a means of expanding Digital Finance in existing and future markets.