The Bangkok Post reported this week that Thitikorn, listed on the Stock Exchange of Thailand as TK, is set to finalise the acquisition of a microfinance business in Myanmar next quarter, Myanmar Finance International Ltd (MFIL).
TK, a leading motorcycle hire-purchase provider in Thailand, aims to increase its regional loan portfolio to 50% of the total and become a leading motorcycle hire-purchase provider in ASEAN, said deputy managing director Prapol Phornprapha.
TK has business operations in Laos and Cambodia. With the acquisition of these 13 additional branches serving 70,000 customers in Myanmar, the company expects to have 32 branches in the three neighbouring countries by year-end. The Bangkok Post reported the total investment for the deal to be 450 million baht or USD 14 million.