Expanding Customer Base – Upgrading Services to Support Strong Future Growth.

PTG Energy PCL (PTG) has announced a business collaboration involving the signing of a partnership with Paisan Capital Co., Ltd. The joint operation focuses on the second-hand truck leasing business, with PTG acquiring capital-increase shares of 33.33% valued at 825 million Baht, marking PTG’s first time venture into the financing business. This allows opportunities for more than 20 million members holding PT Max Card and PT Max Card Plus to benefit from this collaboration. This business collaboration also contributes to business expansion and support stable growth in the future.

Mr. Pitak Ratchakitprakarn, Chief Executive Officer and President, PTG Energy PCL (PTG) revealed that the Company had signed a business collaboration agreement with Paisan Capital Co., Ltd., by acquiring newly issued of 50,000,000 common shares of Paisan Capital Co., Ltd., equivalent to the shareholding proportion of 33.33% of the total number of shares and sold. The investment value was 825,000,000 Baht, with the objective of investing in the second-hand truck leasing business as well as leasing for other types of vehicles.

The collaboration with Paisan Capital Co., Ltd. is considered the Company’s first step into the financing business. The acquisition of Paisan’s shares is for the objective of generating growth, establishing mutual business opportunities, and further expand the Company’s business ecosystem to enhance the variety of services for customer well-being.

“The Company sees the importance of expanding into new business channels that can complement the core business in the future, with the intention of offering diverse products and services that reach out to target customers more rapidly and widely. The aim is also to establish new channels for customers by way of inviting over 20 million PT Max Card and PT Max Card Plus holders to access high-potential services. This is something that is going to build upon the strength of business ecosystems and PTG’s brand”, stated Mr. Pitak.

Mr. Sukrit Rianpinyawat, Chief Executive Officer, Paisan Capital Co., Ltd., stated that the Company was greatly pleased to collaborate with PTG on this occasion. This was considered a creation of business opportunity with the alliance who shared a common vision in offering financial opportunities to people, and to generate stable and unwavering growth together, enabling both companies to continuously expand their customer bases, and more importantly, the Company’s financing portfolio could be enhanced. The Company could foresee PTG’s potential in their willingness to expand the business and establish their own brand to be well known in the market. Therefore, it was believed that PTG could help complement the Company’s business as well.

In this regard, Paisan Capital Co., Ltd. operates the leasing business for second-hand trucks, working capital financing, and refinancing service. The Company has been in the business for 21 year and is dedicated to be the national and regional leader in the leasing service business. The Company is trusted by customers in using the leasing service or sources of funds, projecting the vision of being a well-established brand, operating the business with ethical principles, being honest and credible in offering benefits to consumers. The Company is determined to support the Thai society’s well-being by offering financial flexibility in a responsible manner.

The Company currently has 9 branches, with the headquarters located in Saraburi, serving individual customers, construction business sector, logistics service providers, agricultural products sector, etc. The Company’s total leasing customers’ portfolio as of the end of 2022 was 2,230 million Baht, from 3,452 contracts. As of July 2023, the total leasing portfolio was 2,482 million Baht from 3,851 contracts.

The overall hire purchase loan newly granted over the past 7 months in 2023 is 835 million Baht from 946 contracts. The loan value per contract is 100,000-2,000,000 million Baht, while the number of newly registered trucks during 2020-2022 is between 69,720-76,224, which represents the registration for trading or transferring of ownership. The proportion of newly registered second-hand trucks is between 46%-57% of all newly registered trucks, which is the key target segment for the second-hand truck leasing business.