Summit Capital at Wiang Khum Kam

February 3

Summit Capital held a press conference at Wiang Khum Kam, for national and local media about ‘becoming No 1’. Summit Capital continues its “Becoming Number 1” strategy as it expands into the northern Thailand markets, after a successful opening of service centers in 8 provinces, with confidence the motorcycle market is likely to see high growth Chiang Mai — 3 February 2017 — Summit Capital Leasing Co., Ltd, the motorcycle hire purchase, is moving ahead its “Becoming Number 1” strategy that aims to become the number one market leader in motorcycle hire purchasing business within the year 2018. This follows its unofficial opening of service centers in eight Northern provinces since April 2016. They include Phitsanulok, Nakhon Sawan, Kamphaeng Phet, Phichit, Chiang Mai, Lampang, Lamphun and Phetchabun. Wichit Phayuhanaveechai, chief executive officer, Summit Capital Leasing Co., Ltd, stated that data provided by the Department of Land Transport, Ministry of Transport, as of December 2016, has shown that the number of new registered motorcycle in the northern part of Thailand in 2016 has increased by 1.5% from the year 2015. That is when the company has seen an opportunity to expand its business into the northern region. This is part of its “Becoming Number 1” strategy that aims to become the number one leader in motorcycle hire purchasing business within the year 2018 by expanding service centers to cover areas across the country. The company aims to open service center to cover 65 provinces within 2017. Wichit said. He added that “After opening the service centers in the northern region, we found that most of our customers in the Northern provinces are those who work in factories and civil servants, which accounting for 40%, while another 40% are merchants and the rest 20% are farmers. The most popular motorcycle they have are those with the engine of not over 300cc. The usage of motorcycle are for commuting and for their career. Most of the company’s customers earn an average of 12,000 baht monthly. And the reasons why the customers and dealers giving good response to the company is that the company offers credit with low interest rate, which is between 1.59% – 1.99% per month, with maximum installment period of 36 months. And another strategy that drives the company to success is the speed and efficiency of our services that make the customers and the dealers rely on us and trust us. “With the customers’ demands that are likely to increase continuously, the company sets a target to achieve the hire purchase loan of at least 230 million baht by the end of 2017, with the average new loans of 50,000 – 55,000 baht per contract. The number of contract is expected to increase by 150% while it plans to have at least 190 dealers, with service centers cover all areas of northern region. The numbers of employees plans to increase 35-40 persons in the region as to response the increasingly market demands in the northern Thailand,” Wichit added. However, with the company’s policy that focused on “access and understand”, apart from providing swift and efficient service and attractive interest rate, the company realizes and gives importance to the culture and the way of life of the local people in each area. On this occasion, the company takes part in supporting the cultural tourism and conserves the historic old Lanna sites, along with following HM the King’s footsteps in conserving the forest through the traditional forest conservation activity that has been doing for a long time. The forest plantation activity is held in the forest area of Maejo University as well.

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