Expansion of Container Leasing Origination Through a Singapore Joint Venture with BUSS and FPG AIM
First written in FY2017-Q2. 2 of 6 entries say "Advanced", first in FY2017-Q3. Latest entry: FY2019-Q1.
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- FY2019-Q1Cited as achievedAnnual report
「FPG RAFFLES, which was included in “Other” during the first quarter of the previous consolidated fiscal year, is not included in the information on net sales and profit or loss by reporting segment for the current first quarter because the company terminated its investment relationship with FPG Raffles Holdings Pte. Ltd. on 28 September 2018 and excluded that company, its subsidiary Raffles Lease Pte. Ltd. and 3 other companies from the scope of consolidation.」
The dissolution of the Singapore container leasing joint venture and the exclusion of FPG Raffles-related companies from consolidation were confirmed as historical results in the segment information for the quarter. - FY2018AchievedAnnual report
「The company dissolved the joint venture agreement with Buss Global Investment Holdings Pte. Ltd. and FPG Asset & Investment Management B.V. in Singapore for originating operating lease projects involving maritime transport containers.」
The Singapore joint venture agreement for container leasing projects was dissolved on 28 September 2018, and FPG Raffles Holdings and other entities were excluded from the scope of consolidation. - FY2018-Q3DroppedAnnual report
「The company decided to dissolve the joint venture with Buss Global Investment Holdings Pte. Ltd. and FPG Asset & Investment Management B.V. in Singapore for originating operating lease projects involving maritime transport containers, and to exclude FPG Raffles Holdings Pte. Ltd., the holding company of the joint venture, from its subsidiaries.」
The company disclosed its decision to dissolve the Singapore joint venture for container leasing projects and to exclude FPG Raffles Holdings and other entities from its subsidiaries as scheduled on 28 September 2018. The company expects to receive a US$20 million refund through a paid-in capital reduction by FPG Raffles Holdings. - FY2017AdvancedAnnual report
「As a result, FPG RAFFLES HOLDINGS, FPG RAFFLES and its 2 subsidiaries became subsidiaries of the company. The company came to hold 75.1% of the voting rights in FPG RAFFLES HOLDINGS, with an economic interest of 67.8%.」
Through the joint venture with BUSS and FPG AIM, the company made FPG Raffles Holdings, FPG Raffles and 2 subsidiaries its subsidiaries. The framework for using their container management and sales expertise in project origination became concrete. - FY2017-Q3AdvancedAnnual report
「From the current third quarter consolidated accounting period, 1 subsidiary of FPG Raffles Holdings Pte.Ltd. was included in the consolidation scope following its incorporation.」
The Singapore joint venture container leasing business with BUSS and FPG AIM established and consolidated an additional subsidiary. Containers for arrangement totaling ¥578.2 million were also recorded on the balance sheet. - FY2017-Q2First statedAnnual report
「The company made the company a joint venture through a capital increase conducted on 29 March 2017, which was subscribed by the company, FPG AIM and BUSS. In the capital increase, the company contributed US$19.9 million in cash and FPG AIM contributed US$4.9 million in cash, while BUSS made an in-kind contribution of shares in Raffles Lease Pte. Ltd., a Singapore-based wholly owned subsidiary of the company engaged in container investment management services, valued at US$4.5 million. Its corporate name has since been changed to FPG Raffles Pte. Ltd.」
The company established and capitalized a Singapore joint venture with BUSS and FPG AIM to expand origination of operating lease projects involving maritime transport containers. The company's voting interest was 75.1% and its share of economic rights was 67.8%. The company explained that the container management and sales expertise of FPG Raffles would be used in project origination.