EXAT to further enhance payment efficiencies with United Overseas Bank

United Overseas Bank Thailand (UOB Thai) today announced it will provide cheque payment services to Expressway Authority of Thailand (EXAT).

Mr. Wong Kim Choong, President and Chief Executive Officer, United Overseas Bank (Thai) Public Company Limited said, “UOB (Thai)’s relationship with EXAT began in 2006. The Bank has been providing cash collection services to EXAT to reduce risk of cash handling, increase operational efficiency and simplified reconciliation process for over six years. This move is part of EXAT’s initiative to automate payments with greater speed and efficiency among its vendors and trading partners. This deal is also expected to accelerate cash flow and streamline internal processes for EXAT.”

Mr. Pipat Assamongkol, Executive Director, Country Head of Transaction Banking said, “a robust payments infrastructure is important in today’s fast changing corporate environment. As such, UOB (Thai) offers an extensive network of cheque payment centers in 24 strategic locations nationwide. Our services will help EXAT enhance its operational and cost management efficiency. UOB (Thai) at the forefront of helping our clients in Asia automate and integrate global payments and receipts, accelerate cash flow, streamline processes and make faster, more informed cash management decisions.

Mr. Narong Gieddech, Deputy Governor for Administration, EXAT said, EXAT was established in 1972, currently operate 208 kilometer expressway and more than 1.5 million trips per day and the number of motorist tend to increase every year. It is our responsible to reduce traffic congestion in metropolitan area. Thus, we continuously strive to improve our service in all aspects. EXAT has therefore expanded the cooperation with UOB (Thai) to provide cheque payment for our vendors, With improved operational and cost efficiency through UOBT’s financial service provision, EXAT is confident that we will be able to realise cost efficiencies even as business volume grows.

July 18, 2012 
For More information, please contact Country Communications,
United Overseas Bank (Thai) Pcl.
Or Boonyaporn Vongbuikaw, Chayanee Naewbantad 
Tel 0-2343-4965, 0-2343-4963