PUBLIC listed automotive leasing and fleet management company VB Holdings Ltd has invested $10million in its fleet assets, a strategic move in support of its growing portfolio of contracts.
This investment marks a significant step forward in the company’s commitment to expand its fleet capacity and enhance service delivery to government and commercial clients.
The decision to expand its fleet comes after securing a contract to supply about 80 trucks under a fully maintained operating lease program to the Whole of Government (WoG).
“This investment represents a pivotal step forward for our Pacific Fleet Management division as we scale our operations to meet the demands of new and existing clients,” VB Holdings Ltd CEO Nitish Niranjan said.
“The WoG contract underscores our reputation as a trusted partner in fleet management, and we are excited to extend our services to other commercial organisations.
“By bolstering our fleet capabilities, we aim to enhance our value proposition and deliver exceptional service across all sectors.”
He said they anticipated significant revenue growth over the coming years.
Company director Jinita Prasad said the board fully supported this investment that aligned with their vision of sustainable growth and operational excellence.
The $10m capital allocation will fund the acquisition of state-of-the-art Hino trucks and related fleet equipment to meet the requirements of the WoG contract, the company said.
The HINO trucks will be Euro 4 and Euro 5 standards, featuring the latest advancements in safety, efficiency, and sustainability ensuring compliance with rigorous standards while minimising environmental impact, it added.”
The expansion is also designed to support its growing commercial leasing operations.
