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Christopher Langner

A Thai Penny Stock Fairytale

Concerns regarding Group Lease's loan exposures don't augur well for shareholders.

This is the story of a small motorcycle leasing and finance company in Thailand, and how its Japanese amour took it to the moon and back.

Once upon a time, in the far eastern exchange of Bangkok, was a penny stock called Group Lease Pcl. The company spent its days helping poor peasants in Thailand and Cambodia buy motorcycles. Yet, no one loved it. At the beginning of 2015, it was worth about 6.1 billion baht ($172 million). Average daily trading volumes were muted, at best.