GL Sees Profit in 3Q after Lowers Expense Allowance, J Trust Case to be Settled on Dec.7
Group Lease Public Company Limited (GL) has reported it …
16 พ.ย. 2561

Group Lease Public Company Limited (GL) has reported its 3Q18 consolidated financial statement through the Stock Exchange of Thailand (SET) as follows:

GL’s 3Q18 net profit was ฿104.64 million, an increase of ฿2,372.06 million from the net loss of ฿2,267.43 million in 3Q17. The increase in net profit compared to 3Q17 was the result of lower expenses allowance on disputed loans and lower expense allowance on loan and interest receivables of ฿603,179 million and ฿956,637 million, respectively.
 
Moreover, unlike 3Q17, GL does not have expense allowance on investment loss in associate and expense allowance on exclusive right for ฿582,058 million and ฿55,937 million, respectively.
Without the aforementioned allowances, GL’s expenses decreased from ฿2,867 million to ฿509 million.
 
On November 8, 2018, GL had notified SET and shareholders regarding the progress on the civil case of Group Lease Public Company Limited (GL) as follows:
 
As previously disclosed through SET that J Trust Asia Pte. Ltd., a subsidiary of J Trust Co., Ltd. submitted a complaint to the Civil Court against Group Lease Public Company Limited (GL) on 9 January 2018 based on the allegations of wrongful acts, avoidance of voidable of transactions and claim for compensation for damages and that the Court scheduled the date of inquiry on the application requesting a temporary injunction to be 8 November 2018, as detailed in the reference no. 1.-3.
 
On November 8, 2018, the Court already completed the inquiry on the application requesting a temporary injunction. The Court scheduled the date of hearing the order of the application requesting a temporary injunction and the settlement of issues to be 7 December 2018. If there is any progress, the Company will update as appropriate.