TMB Bank has entered into an agreement with PTT Polymer Marketing, a PTT subsidiary manufacturing plastic pellets, to support PTTPM's dealers with buyer loans.
The partnership is for TMB to provide PTTPM's dealers with its Maxi OD for Buyer, an overdraft facility that promises a high credit line at a low interest rate, for the purchase of plastic pellets. Maxi OD for Buyer offers dealers additional purchasing power at a lower cost.
The dealers also benefit from OD's payment convenience and flexibility unmatched by other types of loans. Dealers also have good credibility since they can immediately make timely payment to PTTPM through TMB SME's Maxi OD for Buyer. And with TMB's introduction of a real-time online system combining order placement with supply-chain management in full circle, PTTPM and its dealers are able to carry out transactions and keep tabs on their progress all the time. Boontuck Wungcharoen, chief executive officer of TMB, said after the signing ceremony yesterday that Maxi ODfFor Buyer offered a new option for PTTPM's dealers. The product initiative was developed out of a realisation that efficient financing would increase liquidity and funds vital to business success in the current environment.
The financial support is consistent with TMB's commitment to advancing all sizes of SMEs, he added.
"I believe our service will be one of the factors strengthening Thailand's business sector, and we will never stop thinking and offering choices to meet the needs of all our customer groups in line with our customer-centric approach," he said.
Pramin Phantaweesak, PTTPM's managing director, said Maxi OD for Buyer represented one of many financial initiatives the company had prepared for dealers and buyers of its products in and outside Thailand.
It will help them accomplish their business mission of selling PTT brands of polymer products such as InnoPlus, for which PTTPM's production capacity will reach 1.6 million tonnes next year, said Pramin.
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