Summit Capital boasts 30% revenue increase in 2017

Corporate January 12, 2018 18:04

By The Nation

Summit Capital, a leading motorcycle hire-purchase and personal loan service provider, has boasted a more than 30 per cent increase in revenue in its 2017 performance.

The company is optimistic that the economy in 2018 will improve over 2017 and consequently enable continued growth of its motorcycle hire-purchase and personal loan businesses.

Wichit Phayuhanaveechai, CEO of Summit Capital Leasing Co Ltd, said in a Friday media release that the company’s 2017 performance grew considerably, including a 42 per cent increase in the total for accounts receivable.

The total number of new contracts for motorcycle hire-purchase was also improved by 34 per cent, when compared with the industry that is expected to have grown around 3 per cent in 2017. The level of NPLs (non-performing loans) was also acceptable at less than 1 per cent.

“As we start looking forward to 2018, Summit Capital has been taken all the necessary steps to capture the No. 1 position in the motorcycle hire-purchase market. Actions are taken as preparation for becoming No. 1 by the end of the fiscal year 2018, in which we project to increase revenue by more than 20 per cent from 2017,” Wichit said.

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