February 14, 2014 00:00 By Kingsley Jayaratnewijayasinha
Master Group Corporation (Asia) Co, a provider of auto retail and related services, aims to more than triple sales within the next four years, having restructured its seven core businesses in preparation for the upcoming Asean Economic Community (AEC).
Last year’s sales for MGC-Asia totalled Bt15 billion, but managing director Dr Sanhavut Thamchuanviriya says the company envisages Bt50 billion in sales in 2018.
“After the restructuring of our business into seven groups, our next target is to expand aggressively into the Asean region once the AEC rolls out next year,” he said.
Sanhavut said free trade would force a large number of Thai auto retailers to adjust to the entry of foreign companies. But at the same time it would also allows Thai companies like MGC-Asia to expand into the Asean market. These include the car-rental business, auto dealerships and aftermarket services.
The company has been preparing for change in many areas, such as raising the potential of employees, raising the efficiency and potential of each business as well as expanding business to cover all areas.
“Our goal is to be one of the leading auto retailers in Thailand, and during the last decade we have laid the foundation for growth in a large number of ways. This is to ensure sustainable growth and the ability to withstand changes in the business climate,” he said.
The group plans to grow by 18 per cent this year thanks to the launch of new models, business network expansion, and the opening of a new showroom on Rama IV Road during the first half of this year.
In Laos, MGC will also be present with its first Sixt car-rental office due for opening in April at Vientiane International Airport.
MGC-Asia’s seven core businesses are new and used car sales, car rental, after-market service, insurance brokerage , information services (i24), and personnel development and training (Master Automotive Centre).