JP Finance Co Ltd. and its partners are to form a joint venture with JMT Network Services (JMT) in order to operate a microfinance business in Myanmar. The new company that will be formed as a result of this joint venture will begin its operations with a registered capital of 600 billion kyat which equals to US $ 571,428. This total capital will be divided into two million shares with a par value of 300 kyat per share. JMT will 70 per cent of total registered capital which equals to 1.4 million shares.
JMT Plus Co Ltd. is the name of the JMT’s wholly-owned subsidiary which was set up explicitly to run the finance business in Thailand. The Myanmar joint venture with JP Finance Co Ltd and its partners is JMT Plus Co Ltd.’s first expansion of its finance business into other countries. JMT itself is a subsidiary of Jay Mart which is Thailand’s leading mobile phone retailer. Currently JMT Plus is offering four financing products to its customers that include personal loans, car leasing, nano finance and hire purchase loans.