Boonyong Tansakul becomes first Thai managing director in history
Singer Thailand Public Company Limited is confident in its path to generate continuous profitability after showing solid performance for 3 consecutive quarters this year. Boonyong Tansakul, high-level professional executive and long-time Singer employee has been named the new managing director succeeding Mr. Daniel Michel Philiponet.
He is the first Thai executive in Singer Thailand's history to take the leadership of the company. The new managing director is expected to successfully guide the company to a lucrative direction amid the sluggish economic environment in order to turn Singer into a hire purchase giant for electrical and home appliances once again, both in the city and provinces.
Boonyong Tansakul, Managing Director of Singer Thailand Public Company Limited, disclosed during the annual celebration Sky High Party by Singer that he was confident that his ability and experience in returning the company to profitability for the first in 4 years would help pave way for Singer's brighter future especially with grass-root consumer groups, who represent the majority customer profile for the company. "Our projection is a minimal annual sale growth of 10% each year," he said.
Boonyong has been entrusted by the company's Board of Directors as the new managing director, following his significant contribution in a campaign led by Mr. Daniel Michel Philiponet, the former managing director to bring the company back to solid ground and start generating profits.
In 2006, Singer Thailand suffered a massive loss worth 1.23 billion baht as a result of the motorcycle hire purchase business. In 2007 and 2008, the loss was reduced to 500 million and 81.6 million baht respectively, following the new direction to focus on electrical and home appliances by the new management, which decided to follow the conventional business focus that has once led Singer to over 10 billion baht worth annual sales.
In 2009, Singer has shown positive results in the first 3 quarters with 16.7 million baht, 12.6 million baht and 6 million baht net profits for each quarter respectively. The company is expected to achieve its sales projection despite unfavorable economic factors and the annual performance should reveal a profitable operation for the first time in 4 years.
"Singer is set to grow in terms of sales for next year at a minimum of 10%. The strategy to be used after I have assumed the leadership of the company will include speed services, strong network expansion, quality and durable products, affordable buying and installment requirements. Attractive campaign will continue to play its role in allowing customers good deals for the purchase even amid the economic turbulence. We have adjusted down the monthly installment amount from 700 - 1,000 baht to 500 baht per month for washing machines, and 900 baht per month for air-conditioners with longer installment period of up to 24-36 months, from 12-18 months previously," he said.
"We will continue using effective marketing and public relations tools to help generate awareness and promote sales as there is already a budget worth over 100 million baht being earmarked for this purpose. Special focus will be on the farmers who will benefit from collection of proceeds from their harvests in the first 4 months of 2010," he added.
"Products to be focused and promoted will therefore be those contributing to the upgrading of lifestyle as well as comfort and convenience. These are some things that will bring up the lifestyles of grass-root consumers closer to that of other consumer groups. People can enjoy products that offer low energy consumption such as air-conditioner, washing machine or refrigerator, with comfortable installment plan," he explained.
Singer is preparing to launch a special campaign entitled 30 baht for air-con" targeting low to middle income groups, from December 2009 to April 2010. "This campaign is expected to help bring comfort to the lifestyles of low and middle income group of consumers. An experimental launch of the program in October 2009 has proved to help generate sales far better than during its peak time in summer," he concluded.
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