August 11, 2021
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strengthen the business Expanding service coverage throughout the country Aim for a loan portfolio of ten billion by next year, opening 3,000 branches by 68
Ngern Turbo Co., Ltd. reveals 3-year operating results, more than doubled every year. Highlighting the strengths of understanding the needs of customers Generate word-of-mouth referrals Aiming to enter the stock market mid-Year 65 to strengthen the business Expanding service coverage throughout the country Aim for a loan portfolio of ten billion by next year, opening 3,000 branches by 68
Mr. Suthat Ruengsutthiphap Chief Executive Officer of Ngern Turbo Company Limited, a financial service provider under the brand “Ngern Turbo”, revealed that the company has a very good growth rate in both revenue and customer base. and the number of branches continuously for the past 3 years. In the past 63 years, the company’s revenue has grown 3 times from the year 2019. This year, it is expected to have almost double the revenue from the previous year, while in the year 65 should be will have almost double the income
In this regard, the Company’s operating results are considered to be growing at an exponential rate. From the important factor in terms of service that is fast, sincere, honorable, straightforward, able to meet the needs of customers on the spot. can receive money immediately This has resulted in the company’s business growth rate.
However, the service model has become an important marketing strategy of the company. Because most of the increasing customers come from word-of-mouth referrals of customers who have used the company’s credit services. The company will instill a corporate culture for employees. which will focus on putting the customer first They also understand the financial liquidity of customers that may be inconsistent. When the customer has a problem, they are ready to help. cause the bond between the company and the customer
Mr. Suthat continued that The company plans to raise funds in the Stock Exchange of Thailand (SET) in the middle of the year with the objective of using the money to expand the business. The company plans to expand to 3,000 branches in 68 to be able to serve customers throughout the country. From the present, the company has more than 550 branches open for service by the end of the year to open 650 branches, including investments to expand the technology team. which the company considers to be very important in doing business in the future
In addition, part of the money will be used for lending. or as a working capital of the business Because the company’s business requires a lot of capital to provide services. In the past, thanks to all banks especially Kasikorn Bank, which has always supported The bank does not look at it as a competitor, but understands and views us as a small chain that makes it easier for people in society to access funding. will help reduce informal debt At present, the company is preparing to submit a registration statement or filing to the Securities and Exchange Commission (SEC) with Kasikorn Securities as its financial advisor. Financial Advisor : FA) who believe that every step will go well. Because the company has an infrastructure and a good management system since the company’s inception on the first day
The products of Ngern Turbo that are currently in service include car registration loans. Mainly motorcycles, and there is also a land title deed loan to meet the needs of customers. In the future, the company plans to open personal loan services. or nano finance which the company has a license and is ready to open for service
“His business philosophy has 3 main components that are uncomplicated: 1. Customers must love. Customers must be happy to have turbo money. 2. Employees are happy to work. both the working atmosphere and the reward; and 3. The company has enough profit. In other words, profit plus happy customers plus happy people at work.
Mr. Suthat added that Small loan market trends Or microfinance believes that it is still a fiercely competitive market. As a result, interest rates will continue to decline. But service providers will have more profits from scrambling for share from informal creditors. Profits per customer may be reduced, but the number of customers will increase the overall growth. Believe that this industry can still grow in the long term. which turbo money is ready to be part of the market to provide service to customers
“Having more competitors is a normal business practice. It is considered good as long as it is within the framework of the rules. Because in the end, the competition in the market will allow customers to benefit from lower interest rates. and more responsive services While all companies will be strengthened by the adjustment. Informal creditors would be more difficult because there are many options in the system. There are 3 big bosses in our industry, each one of them is good at it. but good for each group of customers.”
However, due to the epidemic situation of Covid-19 (Covid-19), the company has helped customers in a variety of ways, such as customers who lack money, but the business can still go on. The company will give additional money to add liquidity to the business. or customers whose income has decreased but still has the intention to pay off the debt, ask for less installments The company will extend the debt, etc. It is called an adjustment according to the needs of each customer.
The company made an adjustment last year when the interest ceiling was lowered. By avoiding lending to certain groups of customers who are at high risk because they may get hurt In this situation, it must continue to adjust. The company may have to be more careful in lending. It is believed that this is a guideline that every entrepreneur follows. The company will focus on the customers who are not affected very much. and bring closer to customers to help resolve problems in a timely manner While the expansion of service branches is still growing. But growth may have to slow down according to the situation. to wait for the right moment including opening 7 days a week in all branches
“The company has tightened its lending strategy since the first round of coronavirus. After a year and a half, we are very confident that it can be managed. But despite how well managed it is, the proportion of non-performing debt (NPLs) is still rising. But still better than previously expected. Right now, the overall bad debt is not much at around 1%. I believe the worst case is probably no more than 2%.”
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