Singer in bid to help flood-hit customers

Boonyong Tansakul, managing director, said last week that there were about 100 customer accounts with outstanding debts of below Bt2,000. If these customers are unable to pay their instalments, their outstanding debts would be written off.
The company would also suggest to its customers with over Bt2,000 in outstanding debt to have their remaining debt placed for a down payment or discount for new products after the floods recede. This is to maintain its customer base and encourage customers to continue buying Singer products. There are about 100 accounts with outstanding debt of more than Bt2,000.
These flood-relief measures will not affect the company as discounts are normally given to customers who pay their instalments. Most customers also have, on average, three of 18-20 instalments outstanding, which is unlikely to sharply increase the amount of non-performing loans.
About 6,000 customers are estimated to have been affected by the floods, up from the earlier estimate of 4,000 accounts, as the flood waters creep into more areas of Pathum Thani and Bangkok. Since late September, Singer has closed its shops in many areas, including Rangsit, Pathum Thani, Ayutthaya and Bang Yai.
“The floods have not affected our total sales as there has been a sharp increase in water-pump sales which average 40-50 units per day compared to 50 units per month in previous periods. Flood-hit Bangkokians have turned to purchasing pumps for flood protection of their homes,” he said. The company is also selling fibreglass boats to meet flood-hit customers’ requirements.