Combining Our Force to bring you the best services
As part of a larger plan to drive deeper cooperation and operational synergies, the Goldbell Group intends to amalgamate STVE Pte Ltd (“STVE”) and Goldbell Leasing Pte Ltd (“GBL”) into a single entity through a “short form amalgamation” under Section 215D of the Companies Act, with GBL being the surviving entity assuming all the assets and liabilities of STVE and GBL on 1 April 2018.
The amalgamation of STVE and GBL will combine their commercial vehicle leasing businesses to provide a seamless leasing experience for customers under a unified brand identity, including access to a larger merged fleet and servicing locations.
In order to facilitate a successful consolidation by 1 April 2018, certain transition activities will take place between the last quarter of 2017 and the first quarter of 2018.
We thank all customers and partners for your support and look forward to strengthening our business relationship with you.
Are the agreement(s) / purchase order(s) we have in place still valid?
Amalgamation is a legal process whereby STVE and GBL are combined so that the assets, rights, privileges, liabilities and obligations of STVE, including the lease agreements and purchase orders that STVE has signed with its customers, will automatically vest in GBL by “operation of law”.
Please be assured that there will be no change to any agreement or purchase order to be performed by STVE, as all such obligations will continue to be performed by GBL after the amalgamation. There is no need to sign a new agreement with GBL.
Will I need to change my vehicle(s)?
No, there is no need.
Will there be any change in my termination policy if we decide not to continue our lease(s) with GBL?
No. There will be no change to your contractual terms and conditions, and the existing termination and penalty policy will be applied.
Will there be any changes in the fleet types or lease offerings?
The combination of STVE’s and GBL’s resources pursuant to the amalgamation will mean that customers will have access to a larger merged fleet of commercial and industrial vehicles and equipment.
Will the quotations issued by STVE still be honoured?
All quotations issued by STVE are valid for 15 days from the date of issue. Any STVE quotation which is still valid and accepted on or after 1 April 2018 will be honoured by GBL.
Will there be any change in the sales personnel handling my account?
No. All STVE employees will automatically become employees of GBL with effect as of 1 April 2018.
Which service centres can we access?
There will be no change in your service centres. You can still access the service centres at 18 Tuas Ave 10 and 59 Senoko Road.
Where do I collect newly leased vehicles or return vehicles upon termination of contract?
For the time being, please proceed to our vehicle collection and return center at 7 Tuas Ave 2, Singapore 639447.
We will notify you should there be any change to the location of our vehicle collection and return center.
Will there be a change in my replacement policy?
There will be no change to the terms and condition of your replacement policy.
What are the important numbers I should know?
For Service Booking, Breakdown and Accident Reporting related matters, please call 6494 2800.
How committed is Goldbell Leasing to its customers?
STVE and GBL are both members of the Goldbell Group - Singapore’s market leader in commercial vehicle and industrial equipment leasing. We have served more than 20,000 corporate clients to-date as the largest commercial vehicle leasing company in Singapore. Your satisfaction is our key to success.
How will the amalgamation affect my payments to STVE?
Effective as of 1 April 2018, all payments are to be made to GBL.
If you have been making payments by GIRO, please note that all GIRO arrangements with STVE will cease on 1 April 2018. During the transition period, you are required to submit new GIRO application(s) with “Goldbell Leasing Pte Ltd” for GIRO deductions on or after 1 April 2018. In the event your GIRO application is pending approval from your financial institution, please continue to make cash or cheque payments to “Goldbell Leasing Pte Ltd”.
For any other payments which are made by cheque or bank transfer, please note that with effect as of 1 April 2018, all such payments should accordingly be made to “Goldbell Leasing Pte Ltd” or GBL’s account number 001-039839-3.
Any changes in billing cycle and invoicing letterhead?
With effect from 1 April 2018, the billing cycle will be on the 1st of every month on GBL’s letterhead.
What will happen to my deposit paid to STVE?
All deposits paid to STVE will automatically vest in GBL upon the amalgamation taking effect on 1 April 2018 whether the leases are still active or expired. All refunds will be processed by GBL.
Will the amalgamation affect my current credit terms given by STVE?
No. GBL will continue to apply the current credit terms given to you by STVE.
Please note that in the future, new leasing contracts may be subject to different credit terms as we are currently reviewing our credit policies.
Who do I contact if I have other issues to clarify?