We request to release 2.5 tons feed for Somkid, our dealer in area 2 with credit limit THB 1 million, now over credit limit by THB177k and the payment overdue THB 253,927 (13-3 days) and THB 111, 797 (23-18 days)
We have been working with Somkid more than 10 years. They use 100% Gold Coin feeds, Advance, average 12 tons per month and margin 14.21%
They are a small business and they give credit to their larger customers who will pay 10 days after harvested. The farming situation with some of their customers is causing this delayed payment. However, this area previously a bit difficult for production now the farmers seem to able to culture and manage with EMS problem. So we see the situation improving and expect better payment.
The salesman has a collection plan with Somkid. Every week Somkid will pay THB 130 – 150k and this week we collected 130k on Monday 5/10.
If we release the feed, we will keep Somkid and 12 tons per month and prevent Inteq from penetrating this area which will affect neighboring areas, Bangkem, Ausa.
Marc