Pan Pacific Leasing (Pan Pac), one of Singapore’s more established vehicle leasing firms, is pleased to announce the celebration of their eleventh anniversary with gold bar giveaways. All new and existing customers will stand a chance to win 1 of 11 gold bars when they renew or sign up for a new commercial leasing contract with Pan Pac from 1 March to 30 April 2023. Each gold bar weighs 10 grams and is valued at approximately S$1,000. Contest winners will be announced in May 2023.
Founded in 2012, when vehicle prices had started to skyrocket in Singapore due to high demand for the Certificate of Entitlements (COEs), Pan Pac had started with the intention to provide affordable commercial vehicle solutions for the bulk of Small and Medium Enterprises (SMEs) in Singapore wishing to expand their business. Also in 2012, e-commerce had started to take a foothold in Singapore and many businesses were adding online sales and delivery to their offerings. This meant an expansion into delivery or logistics services and a corresponding rise in demand for delivery vehicles. With an unappealing high cost of purchase and tying up of cash flow, businesses started to look to alternatives to manage operational costs. Vehicle leasing was one such option and this gave rise to an uptake in leasing enquiries.
Exponential Growth as Vehicle Leasing Gains Popularity
In 2012, Pan Pac started with 2 staff and only 20 vehicles in their fleet and within the first five years, in 2017, the company had attracted the attention of an investment firm, RK Holding, with their high quality of customer service and efficient operations. RK Holding then acquired Pan Pac and their fleet size gradually grew to 1000 vehicles by 2018.
Throughout the years, Pan Pac has worked diligently at forming strategic partnerships and improving their business model to better support their business owner clients. In 2015, Pan Pac opened a dedicated workshop to offer in-house maintenance for their fleet which by then numbered 430. In 2017, Pan Pac became the exclusive trade-in partner and preferred leasing partner of Tan Chong Motors, the exclusive distributor of Nissan passenger and light commercial vehicle in Singapore. Building on this corporate partnership, Pan Pac then signed a partnership with Borneo Motors as one of their official resellers. Borneo Motors is the authorised car distributor and retailer of Toyota, Lexus and Hino in Singapore since 1967.
In 2020, in the midst of the COVID-19 pandemic, Pan Pac’s team took the initiative to offer a personal, helping hand to businesses in need by reworking their leasing programmes, or offering deferred payments for those most affected. In 2021, Pan Pac acquired its own building to accommodate their growing staff and customer base. This passion and heart for their clients has paid off, with Pan Pac now supporting more than 10,000 businesses in Singapore since 2012, with a fleet of more than 2,600 vehicles.
In mid-2022, Pan Pac introduced Electric Vehicles (EVs) to their fleet available for lease and is actively encouraging their clients to shift from leasing ICE (internal combustion engines) vehicles to electric ones in support of Singapore’s Green Plan1 to position Singapore to achieve net zero emissions by 2050.
It is estimated that businesses can save up to 47.62% of their energy cost by making the switch from diesel to EV.
Reappointment of International Artiste Brand Ambassador, Christopher Lee
Pan Pac was the first commercial vehicle leasing company in Singapore to appoint an international artiste as a brand ambassador, hoping to forge a closer connection with their target audience and customers. The company recognises that Christopher Lee is well-recognised among their business owner audience and hopes to better personify their business with the human touch with Lee’s appointment.
“Christopher Lee was integral in our community charity outreach during the pandemic to migrant worker communities and disadvantaged families. Working hand in hand with our SME clients we managed to give out 4000 face masks and further a positive association for the Pan Pac brand. We hope to do more with Lee this year,” says Jeremy Ng, Pan Pac’s Director.
