Bangkok--26 Nov--Finance General Information Group, Office of the Permanent Secretary, Ministry of Finance
Krunthai Bank continually fulfill customers need with a total supply chain solution services by united with SCG Cement - Building Products Ltd. to provides loans for contractors of government and state-owned enterprises for purchasing the construction materials of SCG or SCG's dealer enable contractor to have sufficient capital for their operation without collateral. Aims to increase its market share up to 25% and the supply chain loan amount to 34,000 million Baht within three years.
Mr.Songpol Chevapanyaroj, vice president of global transaction banking group of Krungthai Bank revealed that as the bank's determination on providing a complete range of services under the concept of KTB Total Solutions by offering products and services to meet customers' business in supply chain solution service, from upstream to downstream,. Now, The bank has partnered with SCG Cement - Building Products Ltd. to support the loan for contractor operating on the construction or purchase / procurement of government agencies and state-owned enterprises to provide sufficient working capital for their operations by granting short-term credit for the purchasing of construction materials with SCG or SCG's distributors and provide loaner to overdraft loan amount and repay debts through the bank's modern electronic system.
"Krungthai Bank is the first bank that provide comprehensive supply chain services to government's contractors, from previously offered for dealer or supplier, with the advantage and availability in payment system and transfer of government/state-owned enterprises through the bank's system as the only one channel enable contractors to overdraft their loan amount comfortably through electronic banking for purchasing standardized material products from SCG and thus obtain a loan without collateral or low collateral as the bank guarantees for the contractor."
Mr.Songpol Chevapanyaroj also added that this project will help SCG to reduce overall supply chain costs, reduce risk and optimize the management of receivables, including the reduction of operation cost and operation process. The bank confident that by providing a fully integrated supply chain solution service will increase the bank's market share of the supply chain solution service. The bank aims to increase its market share from 12% to 25% and supply chain loan to 34,000 million baht in three years.
Mr.Nithi Patarachoke, Vice President-Domestic Market of SCG Cement - Building Products Ltd, revealed that this project will help business partners to strengthen their competitiveness and value added, reduce risk and increse liquidity to their operation which will create a sustainable growth to business partners in supply chain. This is a great project and in line with the business plan to support large infrastructure investment project of the government.