SET-listed Singer Thailand Plc, a hire-purchase and electrical appliance company, expects to clear accumulative debt of around 10 million baht this year through robust revenue growth.
The company registered total revenue for the first nine months at 1.8 billion baht and expects it to increase to 2.5 billion by year-end, in line with last year's amount, said co-chief executive Kittipong Kanokvilairat.
Singer Thailand also plans to reduce its non-performing loans (NPLs) from 14% in the third quarter to 10% by year-end through debt write-offs and a debt collection team set up by the company, said Mr Kittipong. NPLs are projected to decline to 7% next year, he said.
The company plans to launch five new product lines in 2018 focusing on cash-and-carry items, said Mr Kittipong.
It projects sales growth of 25% next year from 1.3 billion baht this year, he said.
Four new products planned for next year include a model of beverage cooler, a model of 35-inch TV to serve the 2018 World Cup, mobile gasoline pumps and ice-making machines.
Singer also plans to speed up its sales for top-up machines, launching a new model for such machines early next year, said Mr Kittipong.
For 2018, the company wants to target customers with high purchasing power who buy luxury items such as the iPhone X, he said.
Singer hopes to increase its shops nationwide from 186 to 200 next year and raise its mobile sales unit teams from 650 units to 800.
It has a customer base of 203,000 accounts, up from 180,000 last year, and it expects to have more customers coming from a mobile customer group.
SINGER shares closed yesterday on the SET at 13.10 baht, unchanged, in trade worth 1.17 million baht.
