Autocorp Holding Public Company Limited (ACG) has announced plans to invest 300 million baht to expand its subsidiary, Autoclic by ACG Company Limited, and open 30 FAST-FIT service centers for all car brands by 2024. The expansion will be divided into 7 branches in 2023 and 10 branches in 2024, with potential locations across the country. Currently, ACG operates 12 branches and will be opening its 13th branch at Si Kor Intersection, Kathu, Phuket, on June 23.
The company also intends to expand branches 14-16 at Bang Wa-Phetkasem, Ngamwongwan, and Vibhavadi locations. Each branch will have a budget of no more than 20 million baht, which will be funded through the original investment budget and low-interest bank loans. ACG estimates that if they expand to 30 branches by 2027, sales will reach a billion baht and become profitable by 2025. This growth aligns with the continuous growth of the FAST-FIT business’s Gross Profit Margin.
ACG sees the expansion of FAST-FIT as a potential driver for the company’s growth and a stepping stone for listing “Autoclic by ACG Company Limited” on the Stock Exchange of Thailand in the future.
Despite the government’s minimum wage increase, ACG believes it will have no impact on the company. The employees hired by ACG are skilled laborers who already receive wages higher than the minimum wage. The company is willing to comply with the policy by only adjusting a small fraction of the minimum wage.
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How does ACG plan to fund the expansion of Autoclic and open the new FAST-FIT service centers
Autocorp Holding Public Company Limited (ACG) has exciting plans in store for its subsidiary, Autoclic by ACG Company Limited. ACG is set to invest 300 million baht into expanding Autoclic and opening 30 FAST-FIT service centers for all car brands by 2024. This expansion will be divided into 7 branches in 2023 and 10 branches in 2024, with potential locations all across the country.
Currently, ACG operates 12 branches, with its 13th branch opening at Si Kor Intersection, Kathu, Phuket on June 23rd. But the company isn’t stopping there. Branches 14-16 are also in the works, with locations planned for Bang Wa-Phetkasem, Ngamwongwan, and Vibhavadi. Each branch will have a budget of no more than 20 million baht, which will be funded through the original investment budget and low-interest bank loans.
ACG predicts that expanding to 30 branches by 2027 will result in sales reaching a billion baht and profitability by 2025. This aligns with the continuous growth of the FAST-FIT business’s Gross Profit Margin. ACG sees this expansion as a strong driver for the company’s growth, and potentially a stepping stone for listing “Autoclic by ACG Company Limited” on the Stock Exchange of Thailand in the future.
Despite the government’s minimum wage increase, ACG is confident that it will have minimal impact on the company. ACG’s employees are skilled laborers who already receive wages higher than the minimum wage. The company is committed to complying with the policy by only making minor adjustments to the minimum wage.
To stay informed on the latest capital market news, you can follow the stock dimension channel on their website, as well as their Facebook, YouTube, and TikTok accounts.
Source:
Web: https://www.mitihoon.com/
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Youtube: https://www.youtube.com/@mitihoonofficial7770
Tiktok: www.tiktok.com/@mitihoon
Great news! Autoclic’s investment of 300 million Baht in expanding 30 FAST-FIT service centers by 2024 shows their commitment to providing excellent services to customers. Looking forward to more convenient and reliable automotive solutions from Autocorp Holding Public Company Limited.
This is an impressive investment by ACG to expand their FAST-FIT service centers. It shows their commitment to delivering quality automotive services to their customers. Looking forward to seeing the positive impact of this expansion on the industry.