Singer Thailand Public Company Limited 2Q13 & 1H13 Performance Review at Opportunity Day, The Stock Exchange of Thailand Financial Services Brands Customer People Service Systems Distribution
Disclaimer The information contained in this presentation is for information purposes only and does not constitute an offer or invitation to sell or the solicitation of an offer or invitation to purchase or subscribe for share in Singer Thailand Public Company Limited (“SINGER” and shares in SINGER, “shares”) in any jurisdiction nor should it or any part of it form the basis of, or be relied upon in any connection with, any contract or commitment whatsoever. This presentation may include information which is forward-looking in nature. Forward-looking information involve known and unknown risks, uncertainties and other factors which may impact on the actual outcomes, including economic conditions in the markets in which SINGER operates and general achievement of SINGER business forecasts, which will cause the actual results, performance or achievements of SINGER to differ, perhaps materially, from the results, performance or achievements expressed or implied in this presentation. This presentation has been prepared by SINGER. The information in this presentation has not been independently verified. No representation, warranty, express or implied, is made as to, and no reliance should be placed on, the fairness, accuracy, completeness or correctness of the information and opinions in this presentation. None of SINGER or any of its agents or advisers, or any of their respective affiliates, advisers or representatives, shall have any liability (in negligence or otherwise) for any loss howsoever arising from any use of this presentation or its contents or otherwise arising in connection with this presentation. This presentation is made, furnished and distributed for information purposes only. No part of this presentation shall be relied upon directly or indirectly for any investment decision-making or for any other purposes. This presentation and all other information, materials or documents provided in connection therewith, shall not, either in whole or in part, be reproduced, redistributed or made available to any other person, save in strict compliance with all applicable laws. Note: All currency figures within this presentation are presented in Thai Baht unless otherwise stated. 2
Agenda ► Company Overview ► Financial & Credit Performance ► Going Forward ► Appendix 3
Agenda ► Company Overview ► Financial & Credit Performance ► Going Forward ► Appendix 4
Who We Are … Shareholding structure SINGER is a pioneer and the leader in hire SINGER purchase of home electrical appliance with a large (Thailand) B.V. distribution network with over 3,500 sales force 40% Thai and 211 outlets nationwide individuals 45% Thai institutions SINGER is one of the most trusted brand in 15% home electrical appliances for over 120 years SINGER’s integrated business model equipped with trading, leasing & hire-purchase, and after-sales services. SINGER listed on the SET with a market capitalization of Bt. 5.67 bil /1 SINGER won the SET Awards for Best Investor Relations for 2011 and 2012 Source: Fact set as of August 20, 2013. 5
What We Believe … VISION “To be the market leader in direct sales and consumer finance in the country” MISSION “To improve the quality of life of people by offering high quality products and services at affordable prices” 6
Our Development 1925 Corporate Milestones 2007-2008 First company in Adoption of Credit Thailand to introduce Approval Procedures hire purchase to improve credit 2004 1984 2012-2013 1889 His Majesty the King Set up Singer Leasing Listed on the Stock First business in bestowed the Garuda and Singer Service Exchange of Thailand Thailand as a Emblem to SINGER Plus distributor of SINGER sewing machine 1889 1925 1957 1984 2004 2005 2007 2009 2010 2011 2012 2005 2009 2011 Operational Development Expand produce line to Target small motorcycle entrepreneurs in addition Re-focus on home to households electrical appliances 1957 2010 Expand product to home Expand product line to appliances commercial products 7
Integrated Business Platform Under the “Singer” brand, SINGER sells its products – custom-made by quality OEMs (Original Equipment Manufacturers) – on cash and hire-purchase installment basis through its direct sales force and outlets throughout Thailand. Armed with its financing service and repair & maintenance services at home, SINGER’s business outstands from others’ and fully serves the needs of its customers nationwide. SINGER LEASING SINGER THAILAND SINGER SERVICE PLUS Trusted brand in electrical Leading player in hire • After-sales at home • • appliance for over 120 years purchase in direct sales Reliable maintenance team • Wide range of high quality home • appliance segment with expertise and commercial appliances to Integrated and largest field Active service call center • • suit customer needs leasing and collection teams Training Center to be • Widest distribution network with • Proven credit approval and launched in near future • experienced sales and controlling procedures installation service teams OEM business alliances supplying high quality and tailor-made electrical appliances 8
Our Success Factors Well trusted brand by Thai customers Brand ERP as main administrative system, yielding an optimum Over 3,500 experienced Systems People efficiency and sales force with strong effectiveness of overall relationship with the local management community Distribution Financial Service Hire purchase services Over 200 nationwide with systematic credit outlets and sales network approval procedure Customer Service After sales and maintenance services at home 9
Product Segmentation Household products Commercial products Home appliances Commercial appliances Sewing machine Microwave ovens Freezers Petrol vending machine • • • • Refrigerator TV Refrigerators/Coolers Slush machine • • • • Washing machine DVD players Wine coolers Water pumps • • • • Gas stoves Stereo sets Air Time Vending Machine Spraying machines • • • • Air conditioners • Target Target People living in rural area Local grocery shop in small villages • • Customer: Customer: Housewives Mom & Pop stores • • Local employees Merchant in local markets • • 10
Nationwide Distribution Network NORTH 48 Shops 731 Sales agents NORTHEAST 58 Shops 1,174 Sales agents Over 3,574 sales agents nationwide CENTRAL EAST 45 Shops SINGER targets to open 25 Shops 732 Sales agents 377 Sales agents 10 new stores this year Number of stores Sale agents 6,641 500 7,000 450 6,000 400 5,000 350 SOUTH 3,793 3,800 300 35 Shops 4,000 560 Sales agents 250 252 3,000 200 215 +7% 200 - 21% +60% 150 2,000 100 1,000 50 0 0 2003 2012 2013 F # of store Sales agent (RHS) Source: Company information as of July 2013 11
Distribution Channel & Selling Basis Distribution Channel Selling Basis 95% of the company’s gross sales are generated SINGER sells its product through both cash and hire through direct sales channel (door-to-door) while purchase basis. Nevertheless, the company key the rest are through SINGER’s authorized dealers strength is on hire purchase which contributes over and modern trade. 80% of total gross sales. Wholesale 3% Cash 20% Hire purchase Direct 80% sales 97% Note Percentage based on 2Q13 Sales. 12
The SINGER Way … a unique business model Morning brief Fair events & Tent sales After sale service Morning brief to enhance product Consistently arrange Events & Tent Sales Not only do we sell our products, we ensure knowledge to all our sales staff activities to display and promote our our customers’ continuous happiness products to all local markets through after sale services at home, sometimes at no cost Canvassing • Our sales force leaves early in the morning to seek for new customers and to service existing customers • We demonstrate, deliver products and provide door-to-door service to all our customers, not matter how far they are located • SINGER provides daily incentive to our sale force to encourage and motivate them to generate the highest sales • We value and maintain good long term relationship with all our customers 13
Credit Approval Flow Our credit control process leads to good credit customers Filter 1: Filter 2: Filter 3: Sales Agent Screening Credit Control Officer Unit/Sales Manager Review Approve Apply for Occupation Credit scoring All applications from Sales Agent • • • Hire Hire Income Black list must be reviewed by Shop • • Purchase Purchase Accommodation NCB Manager • • • Assets Security • Account Checker pre-checking Guarantors • Number of hire purchase customers (‘000 accounts) 189 179 168 162 162 143 141 2008 2009 2010 2011 2012 1Q13 2Q13 14
Agenda ► Company Overview ► Financial & Credit Performance ► Going Forward ► Appendix 15
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