“Ngern Tid Lor” affirms motorcycle and hire purchase interest rates issued by OCPC do not impact its business
published : 1 Jul 2022 at 16:03
Following the recent announcement of new motorcycle and hire purchase interest rates by the Office of the Consumer Protection Board (OCPB), there have been concerns about the impacts on leasing. However, Piyasak Ukritnukun, Managing Director, Ngern Tid Lor Public Company Limited, or TIDLOR, affirmed that the new interest rates on leasing are not a problem in the company’s case.
“TIDLOR’s core business leasing portfolio relies on hire purchase and truck rentals which are not included under the new OCPB regulations.”
“As such, our leasing business can continue expanding according to plan, with particularly good growth in TIDLOR Card segment. Our strong market share reflects product propositions providing consumers with the greatest convenience such as allowing them to withdraw their credit balance 24 hours a day, 7 days a week via over 50,000 ATMs nationwide. The outstanding insurance premium growth also highlights a focus on 10-month cash installation payment as part of the “First Class TIDLOR Insurance Broker 10 Months Interest-Free” campaign. The campaign offers fixed payment rates with no credit card required and customers get instant protection as soon as the first payment is made.”
Meanwhile, TIDLOR launched a new logo for TIDLOR Insurance Broker in June 2022, reaffirming its position as the top brand offering comprehensive insurance brokerage services to lower income customers.
All shareholders can rest assured of TIDLOR’s continued good performance and we will achieve our goals and targets as planned.
More information is available at www.tidlor.com, Facebook, or call center at 088-088-0880 24 hours a day.