Elite card reduces new members' fee

Suraphong Triumchanchail, chairman and acting president, said the company would offer a special price to foreigners - Bt2 million, down from the original rate of Bt3 million - starting this month. The special deal is to be offered for only six months.

He said each membership can be used by two persons with a limit for spas and limousines of 24 times per year. The card cannot be transferred to other people.

"TPC hopes that the promotion will boost sales volumes and expects to reach 400 new members this year as projected," said Suraphong.

TPC is working with the Stock Exchange of Thailand to promote the campaign to listed companies and investors from overseas. TPC will be targeting investors in the real-estate sector, particularly in Phuket and Hua Hin, during the introduction period.

In order to reduce operating costs, TPC plans an early-retirement scheme, aiming to cut staff numbers by 10 from the total 124. The measure will help the company to save Bt12 million a year.

According to Suraphong, TPC will seek fund-management companies to manage 50 per cent of its cash flow, or Bt350 million, to gain a better benefit compared to deposits with banks.

"We are talking with several companies such as MFC and KTAM about the programme," he added.