Two Years of SINGER’s Hard Work Bears Fruit! Now Is the Time to Gain Profit!

SINGER is making a turnaround with its leasing business after two years of restructuring.

After the completion of THB 2,000 million of the capital increase, Singer Thailand Public Company Limited (SINGER) will use an amount of THB 1,000-1,200 million to settle its debt due in the fourth quarter of 2019.

The leftover amounting THB 800 million will be reserved for business expansions, secured loans, commercial loans individual loans and car for cash.

It can be said that SINGER is now in a secured position. 

 

In the past two years, SINGER has been restructuring its leasing business while recorded a huge amount of reservation in the first quarter of 2019 along with using “Farmer Model” management to avoid bad loan quality. The business restructuring will put a new look on SINGER’s leasing business.

Which is why SINGER is expected to have a turnaround from franchising of over 900 branches domestically with a higher gross profit margin.

Another new hope for SINGER is the “Car for Cash” business, focusing on SME in need of short-term liquidity by putting vehicles as assurance which means lower risk in having an NPL.

The result of the previous capital increase has unlocked SINGER’s limited capital while making it possible for leasing business to have a fast-paced growth in the next 2-3 years.

 

SINGER used to face a constant decrease in net profit. In 2015, the company had THB 143 million of profit, THB 119 million in 2016 until a loss of THB 9 million in 2017 and a deficit of THB 80.77 million in 2018.

Surprisingly, the recovery started in the first quarter of 2019 with a net profit of THB 40 million from a total revenue of THB 603.36 million (6.64% net profit margin)

After two years of restructuring this is the true sign of a turnaround for SINGER!

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