STCBL earns record sales revenue

March 1: State Trading Corporation of Bhutan Ltd. (STCBL) earned record sales revenue of 840 million last year. A news release from STCBL says 92% of the revenue was from the sale of vehicle and the remaining from sale of spare parts and other steel items.

STCBL says it earned Nu. 330 million from the sale of Toyota vehicles alone. It imported 265 Toyota vehicles last year, the highest so far.

The news release says the increase in demand was due to weaker Japanese Yen, and partial credit facility provided by the corporation.

Speculation that there will be a demand for vehicles from the tour operators for the coronation and centenary celebration also contributed to the increase in demand.

The corporation projects the sales to increase to Nu. one billion in 2008, that’s an increase of 20% from last year. The corporation says it plans to open a workshop in Thimphu this April to provide service and maintenance for Toyota vehicles.

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