Aiming to transform fleet management in the Philippines, Manila-based BPI Century Tokyo Rental Coproration (BPICTR) signed a memorandum of understanding for the acquisition of Diamond IGB, Inc. (DIGB), Diamond Fleet Solutions, Inc. (DFSSI), and Buenaflor Car Services, Inc., collectively, the Diamond group.
With the operating lease expertise of BPICTR and the proven excellence in car rental and fleet management of Diamond, the deal highlights the expansion of services that will bring greater value-add to the existing client base and prospective customers of both groups.
“This agreement with Diamond aims to focus on differentiating strategies and customer service-oriented performance to achieve BPICTR’s vision to be the top rental solutions company of choice. This will enable us to meet the needs of our customers even better than before,” said BPICTR President and CEO Satoshi Matsuo.
It will add Diamond’s high-quality auto services—such as car rental, 24/7 customer service, maintenance and repairs, and fleet management services—to the operating lease business of BPICTR.
“This alliance represents a strategic partnership between two industry leaders that have built a strong business relationship over the years and understand each other’s strengths. Our main goal is to benefit customers through enhanced product offerings and better service,” said Quincy S. Buenaflor, Managing Director of Diamond.
BPICTR is a wholly-owned subsidiary of BPI Century Tokyo Lease and Finance Corporation (BPICTL). BPICTL is a joint venture between Tokyo Century Corporation (TCC), an international industry-leading financial services company with strong roots in leasing, and the Bank of the Philippine Islands (BPI), the oldest bank in the Philippines and Southeast Asia and one of the largest in the country.
Meanwhile, Diamond, a leading local company headquartered in Paranaque City, provides auto leasing and rental services across the country, as well as comprehensive vehicle services, including fleet management, through its group company, Diamond Fleet Solutions Services Inc., and vehicle repair and maintenance through Buenaflor Car Services Inc. (known as Pronto).