Sabaidee Leasing to make motorbikes more affordable
Sabaidee Leasing to make motorbikes more affordable
The Sabaidee Leasing Company Limited has officially opened for business after receiving permission from the Bank of the Lao PDR Financial Institution Supervision Department to open its first branch in Vientiane.
Sabaidee Leasing intends to offer hire purchase arrangements for people wishing to purchase cars or motorbikes but who cannot pay for them outright in cash.
Customers who wish to purchase vehicles will be able to enter into repayment agreements on a weekly, fortnightly or monthly basis provided they can provide all the relevant documents and demonstrate their capacity to make repayments on time.
The handover ceremony for the certificate took place at the Sabaidee Leasing Company office in Beungkhayong village, Sisattanak district, Vientiane, on Thursday morning.
The certificate was officially handed over by Deputy Director of the Financial Institution Supervision Department under the Bank of the Lao PDR, Mr Visone Saysongkham, and received by the Chairman of Sabaidee Leasing Company Limited, Ms Prathama Phornprapha.
Deputy Managing Director of Thitikorn Public Company Limited, Mr Prapol Phornprapha, told Vientiane Times that Sabaidee's parent company is located in Thailand. Thitikorn Public Company Limited has been open for more than 40 years and is one of the most reputable leasing companies in Thailand. Mr Prapol said Thitikorn Public Company has some 90 branches and more than 2,000 staff, now having provided services to 300,000 active customers on a monthly basis.
“This is part of our long term plan for the AEC and we would like to open a branch in Vientiane because Thailand has a shared border with Laos and it's very convenient for business cooperation.”
“We can see that the economy in Laos is growing very fast. We sent some of our staff to Laos for a year before opening. This year we got two certificates from two countries, Laos and Cambodia.” “Of course we have plans to expand our company to every province in Laos but we need at least five years to do so.”
Mr Prapol said the company doesn't expect to expand business rapidly but has set a goal to service at least 1,000 customers for the first year.
“As we know the repayments in Laos are still high and we think that we will lease at least US$1 million this year,” he said. Sabaidee Leasing can make finances available for customers the same day if they can provide all the relevant documents, he added. The Lao chairman, Ms Prathama, said “Recently our assets are almost 10 billion baht in Thailand and I'm very glad that we have the trust of the Bank of the Lao PDR, which has allowed us to set up operations in Laos. I hope that the customers in Laos will also trust in our service.”
“Our company will be active in working and providing leasing services for customers in Laos because we aim to offer first class convenience.”
Mr Visone said that they provided the certificate to the Sabaidee Leasing Company Limited because they can see that it would be a good business in Laos and will help to reduce poverty. He also stressed that the business needs to observe all the relevant laws and regulations of the Lao PDR.
vientiane times
