Bangkok--20 Oct--TMB Bank
- Low-interest maximum OD offered for dealers
- Product comes with online flexibility for comprehensive financial management
TMB Bank Pcl. has partnered with PTT Polymer Marketing Co., Ltd (PTTPM) — a PTT subsidiary manufacturing plastic pellets — to support PTTPM’s dealers with buyer loans. A Memorandum of Understanding was signed today by Mr. Boontuck Wungcharoen, TMB’s Chief Executive Officer, and Mr. Pramin Phantaweesak, PTTPM’s Managing Director.
The partnership is for TMB to provide PTTPM’s dealers with its Maxi OD for Buyer, an overdraft facility which promises high amounts of credit line at a low interest rate, to purchase plastic pellets. Maxi OD for Buyer offers dealers additional purchasing power at a lower cost. The dealers also benefit from OD’s payment convenience and flexibility unmatched by other types of loans. Dealers also have good credibility since they can immediately make timely payment to PTTPM through TMB SME’s Maxi OD for Buyer. And with TMB’s introduction of a real-time online system combining order placement with supply chain management in full circle, PTTPM and its dealers are able to carry out transactions and keep taps on their progress all the time.
Mr. Boontuck Wungcharoen, TMB’s CEO, said that Maxi ODfFor Buyer offers a new option for PTTPM’s dealers. This product initiative was developed out of a realization that efficient financing will increase liquidity and funds vital to business success in the current environment. The financial support is consistent with TMB’s commitment to advancing all sizes of SMEs. “I believe our service will be one of the factors to strengthen Thailand’s business sector and we will never stop thinking and offering choices to meet the needs of all our customer groups in line with our customer-centric approach. We will continue to set new standards for financial products and services with innovation and commitment to maximize the benefits of our customers whose needs are our priority.”
Mr. Pramin Phantaweesak, PTTPM’s Managing Director, said. “We are honored and glad about this important partnership between PTTPM and TMB. Maxi OD for Buyer is a financial service designed to strengthen business potential of our dealers. It is one of many financial initiatives we have prepared for our dealers and buyers of our products in and outside Thailand so they can accomplish their business mission of selling PTT brands of polymer products such as InnoPlus for which our production capacity will reach 1.6 million tons in 2010.
“The facility is another good choice of financing which will help strengthen our dealers by improving their liquidity so they can smoothly operate in the current economic environment. We believe that under the care of TMB’s capable and experienced team, the product will be another excellent offering PTTPM and TMB have for all dealers. Hopefully, the partnership will be able to provide similar more great services in the near future.”