Sum Finance Eyes Leasing Business

SUM Finance is positioning itself as the arranger of funds for projects to be taken up by Sumitomo Corporation in sectors like power. We want to focus on big-ticket leasing for things like construction equipment, says Katsutoshi Baba, vice-president and whole-time director of SUM.

We will work in tandem with Sumitomo group companies like Sumisho Lease, Sumisho Auto and P T Summit Sinar Mas in Indonesia besides targeting other business relating to Japanese investments in India, says Sanjoy Banerjee, president and managing director of SUM Finance.

Sumisho Lease, which has subsidiaries in the United Kingdom, Hong Kong and the United States, has leased assets amounting to $ 10 billion. SUM Finance is expected to act as an extension of Sumisho Leases business in India.

 

We plan to act as financiers, either directly or through a syndicate consisting of other financiers. We are already taking to possible syndicate partners, Baba says.