Bangkok--9 Nov--TMB
Program to be initially available to Boon Rawd, PTT and SCG supply chains
TMB, being concerned about the welfare of its SME clients under the current major flooding, has launched a Supply Chain Revitalizing Program with an initial fund of 10 billion baht and with collaboration from Boon Rawd, PTT and SCG.
Under the Program, TMB will provide SMEs under the three groups of companies’ supply chains, who are directly or indirectly affected by the current major flooding, with the conversion of their outstanding overdraft credit into an 18-month loan. It will allow the SMEs to enjoy a six-month grace period of non-repaying capital and interest and a repayment period of 12 months. The SMEs, however, can still draw on their current overdraft amount in full. The program is to take effect immediately.
Mr. Boontuck Wungcharoen, Chief Executive Officer of TMB, said initially, the assistance under the Supply Chain Revitalizing Program will be provided to SMEs which are distribution agents of Boon Rawd Brewery and SCG Distribution Co., Ltd. and gas station operators of PTT. The initial fund set for the program is 10 billion baht, with possible increments in the future. This is another financial assistance program in addition to those earlier announced by the bank. TMB will continue this new program despite any measures or policies to be announced by the government for the SMEs. In that case, the Bank will add those government’s measures up to the benefits currently enjoyed by its SME clients.
Mr. Boontuck said the current joint efforts by TMB and other major corporations in assisting SMEs through the supply chains will speed up any help for the small and medium enterprises and support the recovery of the economy in a more efficient way. These major corporations are major manufacturers or traders in the supply chains and, therefore, would know the SME’s business, turnover volumes and the demand of buyers and sellers in the system. Cooperation with these corporations will allow TMB to see the need of SMEs in the supply chains.
Mr. Boontuck said in addition that the current flooding has widely affected various industries and TMB is prepared to launch other measures to help SMEs in other supply chains as major manufacturers or traders in other industries also want to help their trading partners both in the buying and selling sides. This will allow the SMEs to recover from the current crisis as quickly as possible, a goal that serves TMB’s policy in supporting supply chain operators financially and technically.
Any TMB client wanting to apply for assistance under the program can contact any Bank branch or Business Center or the Bank’s relationship managers, or inquire for more information at TMB Phone Banking at the hotline 1558 and then press 2. Approval of any credit will need to comply with conditions set by the Bank of Thailand and the Bank.