SBI Holdings, Inc. announced that the company has signed Memorandum of Understanding on establishing a joint venture leasing company, which develops the business of leasing automobiles, motorcycles, cycle cars and agricultural equipment, etc. by utilizing FinTech in Cambodia, with ReNet Japan Group Co. Ltd. The joint venture leasing company will carry out commercial taxi leasing and other business activities as the first step.

After the company is set up, it will acquire a lease license from the Central Bank of Cambodia by the summer of 2017 and then start its business. Name of the joint venture leasing company is Mobility Finance Cambodia Plc. Head office located in Posen Chey Social Development Centre, St 2011, PhumThlok, Sangkat Kokroka, Khan Posen Chey, Phnom Penh.

The capital of the new company is USD 0.5 million. ReNet Japan Group Co. Ltd. will hold 51% of share and SBI Holdings, Inc. will hold 49% of share.