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OPERATING COMPANIES – THAILAND

 
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Singer Thailand

Singer Asia currently owns 40.0% of the shares of the public company, Singer Thailand. Singer Asia has operated in Thailand since 1905. Singer Thailand was honoured during 2004 to receive the coveted Garuda Award from the King of Thailand for its contribution to the social welfare of the people of Thailand.

Singer Thailand’s revenue in 2014 was Bt3.2bn. The compound annual growth rate (CAGR) in revenue since 2009 is 15%.

Singer Thailand’s strategy is to boost revenue and profit while further improving the credit granting and collection processes and managing down sales and administrative costs. The product range offered to small entrepreneurs such as village grocers, first introduced in 2010 with air time vending machines, has been extended to include other appliances and durable products.

At the end of 2014, Singer Thailand operated 216 "Singer" direct selling depots, which are located primarily outside Bangkok. The direct selling locations serve as a base for canvassers (direct selling agents) / collectors who sell and collect door to door, and as local warehouses. Singer Thailand has approximately 3,300 canvassers / collectors, most of who are on a commission-only basis.

Singer Thailand is the largest direct seller in Thailand of durables for the home with a market share of approximately 60%. Almost all products are sold by Singer Thailand under the Singer brand.

For additional information regarding Singer Thailand, see the Singer Thailand website: www.singerthai.co.th and the Singer Thailand public company annual report.


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