MUFG-backed JACCS enters Singapore via 49% stake in CarTimes Capital
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JACCS Co., Ltd. has acquired a 49% stake in CarTimes Capital Pte Ltd, marking its entry into Singapore as its sixth ASEAN market. This acquisition, supported by Mitsubishi UFJ Financial Group, was announced in February. Following the investment, JACCS, CarTimes Group, and CARSOME Group Inc have formed a strategic auto financing partnership to provide structured financing solutions for consumers and dealers. The partnership aims to enhance transaction flow while adhering to Singapore's credit standards, as stated by Eddie Loo, Founder and Managing Director of CarTimes Group.
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