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https://www.nationthailand.com/pr-news/more/pr-news/40024207

KTC achieves a new all-time high profit of THB 7.14 billion

SATURDAY, JANUARY 21, 2023

The company boasts receivables portfolio exceeding 100 billion baht, ready to drive the organization towards a strong foundation.

KTC announces its operating results for the year 2022 which better than expected and achieves a new all-time high profit once again. Net profit in the separate financial statements equaled to 7.14 billion baht, increased by 14.2% and in the consolidated financial statements equaled to 7.079 billion baht, increased by 20.4%, while total receivables portfolio equaled to Baht 104.194 billion. KTC is preparing to drive the organization towards a strong foundation under the concept of “A Transition to the New Foundation”, emphasizing its reputation as a trusted organization among all group of stakeholders.

Mr. Rathian Srimongkol, President & Chief Executive Officer, “KTC” or Krungthai Card Public Company Limited, states “The recovery of tourism sector and private sectors consumption from 4Q22 until now causes the Thai economy to expand accordingly, employment and labor income risen. As a result, the overall picture of the credit card and personal loan businesses resumed to grow continuously. This reflects consumer confidence and demand for personal loan still has room to grow.”

“In 2022, KTC operated its main business according to strategies and targets in various areas and the operating performance was better than expected accordingly compared to the same period of 2021. Both credit card receivables portfolio expanded by 15.4% and personal loan portfolio expanded by 10.4%, as well as KTC credit card spending volume with a noticeable growth of 21.7%, amounted to 238.257 billion baht, higher than the same period of 2019, which was the pre-COVID-19 period. It is likely that credit card spending volume will continue to increase in 2023. The new booking of “KTC P BERM CAR FOR CASH” receivables portfolio equaled to 1.055 billion baht after the announcement of the adjusted target in 3Q22. Nevertheless, KTC will focus on cooperating closely with KTB so that “KTC P BERM CAR FOR CASH” portfolio will achieve the new booking target of 9 billion baht by the end of 2023.”

“Although KTC’s credit card and personal loan portfolios have expanded in the past year, KTC still pays attention to the strict criteria for acquiring new customers from the beginning in order to maintain the quality of portfolio with low NPL ratio. Moreover, provisions and write-offs were adjusted properly according to portfolio nature in each business as it should be which cover risks that may occur in the future. The Company also managed to lower its finance costs, while the administrative expense increased from recruiting new members and marketing promotional campaign was also higher in order to invest in portfolio building. Total revenue grew mainly from an increase of interest income and fee income which expanded in response to an increase in business volume. Consequently, the Company was able to achieve the new highest profit record once again.”

“KTC’s operating results as of December 31, 2022; KTC has a total member base of 3,289,839 accounts; total loans to customers and accrued interest receivables amounted to 104.194 billion baht; NPL Ratio (% of total NPL) was at 1.8%. Credit Card Business has a total of 2,550,592 cards; credit card receivables equaled to 69.462 billion baht, NPL of credit card was at 1.1%. Personal Loan Business has a total of 739,247 accounts; personal loan receivables equaled to 32.283 billion baht; NPL of personal loan was at 2.8%. KTBL Lease Receivables amounted to 2.449 billion baht; NPL of lease receivables was at 8.9% which decreased significantly due to the written-off of existing debt with full provisions. The Company also focuses more on acquiring new commercial loan customers in 2023. The number of new booking portfolio by the end of 2022 equaled to 1.372 billion baht.”

“In 2022, KTC’s total revenue equaled to 23.231 billion baht, increased by 8.3% compared to the year 2021 mainly from an increase of interest income (including credit usage fee) and fee income by 5.6% and 15.8% respectively. Total bad debt recovery equaled to 3.421 billion baht, increased by 4.7%. Total expense equaled to 14.377 billion baht, increased by 1.3% due to administrative expense increased by 10.8% mainly from an increase of marketing expense by 34.5% and an increase of fee expense by 16.2%. Expected credit loss decreased by 10.8% and finance costs dropped by 1.6%.” 

“KTC still focuses on efficient cost of fund management. At the end of 2022, KTC’s total borrowing equaled to 61.635 billion baht, increased from 2021 by 13.3% whereas sources of fund structure were both from short-term and long-term borrowings at the ratio of 24%:76% respectively, comprising of loans from KTB amounted to 6 billion baht, from other financial institutions and related financial institutions amounted to 10.179 billion baht and debentures amounted to 45.456 billion baht. Cost of fund stood at 2.4%. Debt-to-equity ratio stood at 2.2 times, which is well below the bond covenant limited at 10 times and available credit lines equaled to 20.709 billion baht.”

“The business direction for 2023 is to drive KTC towards a strong organizational foundation under the concept of “A Transition to the New Foundation” where KTC will make a big change in terms of organizational structure, strategies, processes, technologies and services in 3 core dimensions which are 1) Enterprise Architecture – manage and align the whole business structures, IT systems and operating systems together 2) Enterprise Skill Assets – encourage KTC employee to develop important skills in various areas in order to move forward with the Company and 3) Enterprise Data Assets – manage information from planning, storing, accessing as well as data destruction, focusing on safety, accuracy and transparency so that KTC has a quality database supporting efficient operations.”

“KTC also foresees opportunities and strives to grow its payment business and retail lending business by paying special attention to increase “KTC P BERM CAR FOR CASH” receivables portfolio in order to acquire new customers to generate strong profit base. Meanwhile, credit card and personal loan businesses will grow at the accelerated rate by emphasizing on acquiring new customers as well as creating marketing activities in accordance with the changing circumstances. As a result, marketing expense and provisions may increase in accordance with the expanding portfolio.  For the upcoming economic conditions, KTC may face higher cost of fund, as well as higher expense from marketing expense and provisions according to portfolio quality. For the loyalty platform “MAAI by KTC” (My by KTC) which was categorized in a constant developing business model, it may not generate income in the early stage. Nevertheless, KTC is confident that it will achieve growth target in terms of credit card spending and receivables portfolio expansion.”

“For KTBL’s business, the Company focuses on commercial loans acquisition such as trucks, etc., with a target of new booking for the year 2023 equaled to 3 billion baht. The company will also continue to offer loans to retail customers; however, the Company will grant loan according to the credit quality of customers. Thereby, this business expects to generate profit in 2023.”

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https://www.nationthailand.com/more/pr-news/40024196

SCBX Announced 2022 net profit of 37.5 billion baht

FRIDAY, JANUARY 20, 2023

SCB X Public Company Limited reported a net profit of 37.5 billion baht in 2022, a 5.5% YoY increase, mainly due to strong net interest income growth, cost management discipline, and lower provisions. Nevertheless, it was offset by a fee and investment-related income decline.

For 2022, net interest income rose 13.3% YoY to 107.9 billion baht, following an increase in net interest margin under the growth strategy towards quality loans and an upward interest rate trend. Meanwhile, overall loans expanded by 3.3% from the previous year.  

Fee and other income stood at 44.9 billion baht, down 4.7% YoY due to the slowdown in the wealth management business. Investment and trading income also dropped 79.1% YoY to 1.7 billion baht due to extreme monetary and capital volatility. 

Operating expenses increased 10.0% YoY to 69.9 billion baht, mainly on the back of increasing business activities and restructuring efforts under the ‘Mothership’ strategy. However, the cost-to-income ratio remained at an appropriate level of 45.2%, a slight increase from the previous year.  

The Company set aside provisions of baht 33.8 billion for 2022, down 19.5% YoY, thanks to proactive measures and a prudent approach to credit quality management implemented since the onset of the Covid-19 pandemic as well as the recovery in business sectors. The non-performing loan (NPL) coverage ratio increased to 159.7%.

The NPL ratio eased to 3.34% at the end of 2022, from 3.79% at the end of 2021, largely due to a comprehensive debt restructuring program under the Bank of Thailand’s framework and effective NPL management. The capital adequacy ratio also remained strong at 18.9%.

Arthid Nanthawithaya, Chief Executive Officer of SCBX, said
“In the next 1-2 years, we will emphasize leapfrogging of digital-lending businesses, following talents and business strategies preparations. For SCB Bank, we will continue to proceed with the ‘Be a Better Bank’ strategy, to achieve quality growth at a lower cost base. Our technology and digital asset businesses will adopt a prudent investment approach, taking into consideration market conditions. Regarding financial performance in 2022, SCBX continued its growth momentum and maintained financial stability by adopting appropriate risk management under extreme volatility in the capital market. Looking forward, we believe SCBX and its portfolio companies can enjoy significant growth potential thanks to the ‘Mothership’ strategy and overall business recovery.”

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https://www.nationthailand.com/pr-news/more/pr-news/40024194

DHL Express kicks off 2023 with Top Employer achievement for Asia Pacific

FRIDAY, JANUARY 20, 2023

DHL Express has started 2023 on a positive note with the achievement of Asia Pacific Top Employer 2023 for the ninth consecutive year.

Additionally, the Top Employer Institute also awarded 10 countries and territories across the region the Top Employer certification. These include Hong Kong, India, Indonesia, Japan, Malaysia, New Zealand, Pakistan, Philippines, Thailand and Vietnam.

DHL Express also wrapped up 2022 with more than 50 HR awards won by individual national companies. These include recognitions for workplaces celebrating diversity while creating a positive and happy environment. The accolades are also aligned with the company’s annual Employee Opinion Survey. Employees gave a score of 97 out of 100 for “Employee Engagement“, indicating their overall satisfaction with the company.

“This is great news to start the new year,” said Ken Lee, CEO for Asia Pacific, DHL Express. “The Top Employer recognition is a massive pat on the back for all of us. I am also incredibly proud of our team and the number of awards they have won. We’ve always focused on our people’s well-being and will continue to do so.”

Investing in people and providing development opportunities

Each year, DHL Express invests more than EUR300 ( 10,663 baht )per employee to ensure they have access to learning and career development opportunities. To foster a sense of belonging and enable leadership development is the internal training initiative “Certified”, where employees gain the knowledge and skills needed to perform their job competently.

The investment also goes to taking care of people’s well-being and needs. For example, the company organizes yoga and meditation workshops to help employees manage their physical and mental health. Employees can also dial a 24-hour employee assistance hotline hosted by professional counsellors whenever they need a listening ear.

“We are honoured to be the Top Employer as it shows that we have robust policies and initiatives. As we navigate the changing workplace landscape, we continue to make things right and treat people with respect,” said Mateen Thiruselvaam, Human Resources Senior Vice President for Asia Pacific, DHL Express. “Awards may be important, but our people are an indispensable asset. Our employees see us as an HR trusted partner. We must continue to find ways to engage our people in open and meaningful conversations, to drive positive change across the organization.”

As a global company with an international network, DHL Express employs about 120,000 specialists worldwide, covering hundreds of professions such as parcel delivery, hub operators, aircraft maintenance, network planning, IT, and more. Last year, 27% of females in Asia Pacific (excluding China) are in middle and upper management. The aim is to increase the share of women in leadership positions to 30% by 2025.

DHL is part of Deutsche Post DHL Group. The Group generated revenues of more than 81 billion euros ( 2.8 trillion baht ) in 2021. With sustainable business practices and a commitment to society and the environment, the Group makes a positive contribution to the world. Deutsche Post DHL Group aims to achieve net-zero emissions logistics by 2050.

Hashtags: #DHLExpress #TopEmployer2023 #AsOne

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https://www.nationthailand.com/pr-news/more/pr-news/40024171

Flagship launch brings Jetts Thailand to 40-club milestone

FRIDAY, JANUARY 20, 2023

Brisbane, January 2023 – Jetts Fitness has reached the 40-club milestone in Thailand with the opening of a flagship club in the town of Si Racha, on the country’s eastern seaboard.

The new club, which opened on 1 January 2023, is located in Central Si Racha – the year-old megamall, owned by global retail giant The Central Group, that’s set to become the area’s largest mixedusedevelopment over the next few years, with the addition of a hotel and residential complex alongside the already-constructed convention hall.

The club occupies a high footfall, high visibility location on the second floor of the shopping mall, with 19m of Jetts-branded internal frontage. Meanwhile, 1,105sq m of floor space make this latest club around 35 per cent larger than the Jetts 24 Hour Fitness average, resulting in an expansive offering that incorporates signature elements from the chain’s two premium clubs, Jetts Black. Pricing is, however, in line with the Jetts 24 Hour Fitness norm, with membership starting at THB1,500 a month (US$43 / £35).

The mould-breaking addition at Si Racha is The Playground: a 100sq m functional training amphitheatre with enough space for multiple PT sessions to take place simultaneously. Laid with artificial turf, it’s equipped with a great range of ZIVA kit, from core bags to dumbbells to kettlebells. Usually only available at Jetts Black, Si Racha is the first Jetts 24 Hour Fitness-branded gym to incorporate The Playground concept.

There’s also a dedicated zone for Jetts’ signature J Series group HIIT classes; an extra-large free weights area with enough space for multiple units of high-demand equipment; a large group exercise studio that can accommodate around 50 participants; and a four-lane, 10m sled track –only the second in the 40-club estate. All of this sits alongside a comprehensive cardio and strength floor equipped by Matrix.

“We’ve hit another home run with this fantastic new club, which opened with 800 members,” said Mike Lamb, CEO of FLG Thailand; the Jetts brand and operation in Thailand is wholly owned by APAC health club giant Fitness & Lifestyle Group (FLG). “We’re confident we will reach our 1,500-member capacity within six months of opening.”

He added: “Jetts is delighted to cement its strong relationship with The Central Group, with the opening at Si Racha following on closely from our 1 December 2022 launch at Central Chanthaburi.“It’s great to see our gyms progressively move into higher traffic zones within Central’s malls, reflecting the value and energy our well-recognised international fitness brand brings to these world-class malls.”

Already Thailand’s #1 gym chain by number of locations, Jetts currently has three more clubs in the advanced pipeline – including one under construction – and plans to end 2023 with at least 45 locations.

“We believe Thailand, with its population of around 60 million people – including around 10 million in Bangkok – can ultimately support 100 Jetts clubs,” said Greg Oliver, Group CEO of Fitness & Lifestyle Group. “We’re excited by the opportunity to serve this growing market, and with the fantastic team we have in place, are ready to seize that opportunity and cement our position as Thailand’s #1.”

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https://www.nationthailand.com/pr-news/more/pr-news/40024159

VGI Wins Highest Corporate Brand Value for the Sixth Time from Asean and Thailand’s Top Corporate Brands 2022 

THURSDAY, JANUARY 19, 2023

VGI PLC, the leader of Offline-to-Online (“O2O”) Marketing Solutions across multiple platforms, led by Chief Financial Officer, Chitkasem Moo-Ming, accepted an award from Asean and Thailand’s Top Corporate Brands 2022 for the highest corporate brand value under the media category.

The event was jointly organized by the Masters in Marketing and Branding Programme (MBM) under the Faculty of Commerce and Accountancy, Chulalongkorn Business School, and the Stock Exchange of Thailand. The award was presented by Prof. Bundhit Eua-arporn, President of Chulalongkorn University.

This is the sixth time VGI has received the prestigious award, further attesting to the Company’s strength and unwavering commitment to delivering sustainable returns for all stakeholders, society and the environment. VGI’s corporate brand value stands at 48.612 billion baht. (as of 18 January 2023)

Commenting on this achievement, Chitkasem said, “Winning this award for the sixth time is truly a testament to our vision to be the lead provider of forward-thinking solutions guided by our robust and inimitable ecosystem encompassing Advertising, Payment and Distribution platforms. Thanks to our strong foundation and financial stability, we have demonstrated time and again our unique capability to maintain a prominent standing within the media industry even in the most uncertain times.”

The top corporate brand value is appraised through the CBS Valuation (Corporate Brand Success Valuation) tool developed by Prof. Guntalee Ruenrom and Ake Pattaratanakun of Chulalongkorn University. This tool offers a systematic mechanism to measure corporate brand value in the Asean region and Thailand in monetary terms with an emphasis on the importance of organisational development for sustainability. The valuation is recognised to lead to greater stakeholder confidence and contribute to the strength of corporations capable of having a positive impact on the future of the national economy.

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https://www.nationthailand.com/pr-news/more/pr-news/40024156

CPF unveils roadmap towards Net Zero, kicked off with 100% abandonment of coal use in Thailand 

THURSDAY, JANUARY 19, 2023

Charoen Pokphand Foods Public Company Limited (CPF) unveils the roadmap towards the Net Zero Greenhouse Gas Emission target and the 100% stop of coal use for operations in Thailand under the Coal Free 2022 target.  

For food security, the 3 Smart approach – Smart Sourcing, Smart Production and Smart Consumption – will be implemented to drive business from upstream to downstream towards conservation goals with support from innovation, technology, and automation systems.

Prasit Boondoungprasert, Chief Executive Officer of CPF; Peerapong Krinchai, Executive Vice President – Corporate Engineering and Kobboon Srichai, Head of Corporate Affairs and Investor Relations at CPF joined the press conference to unveil the plan towards Net Zero and the achievement of Coal Free 2022 target at CP Tower Silom Building.  

Prasit said that risks from climate change and the Covid-19 pandemic have sent impacts on global food security. As a leading integrated agro-industrial and food business operator, CPF is aware of its role in producing sufficient food and satisfying customer demand in normal times and times of crisis as well as supporting the global commitment to climate impact mitigation and the United Nations Sustainable Development Goals (SDGs). All drive CPF to announce the Net Zero 2050 target. 

2023 marks a significant beginning of the moves towards the target after CPF achieves the 100% stop of coal use in Thailand under the Coal Free 2022 target. In line with the Bio-circular Green Economy (BCG) concept honoured by Thailand and the global community, Thai operations have shifted their focus to biomass energy. Renewable energy now contributes 30% of energy use, making CPF one of the top-tier food companies in terms of renewable energy consumption. The switch has also reduced greenhouse gas emissions by more than 600,000 tons of carbon dioxide equivalent. 

Under the Net Zero target, CPF has introduced innovation, AI/IoT technology and automation systems to enhance production efficiency. Under the 3 Smart approach, CPF’s business chain, from upstream to downstream, will strive to materialize Smart Sourcing, Smart Production and Smart Consumption.  

Smart Sourcing:  Ensuring sustainable sourcing throughout the supply chain. The sourcing of key agricultural materials including corn and soybean must be traceable, to ensure they are not from encroached forest areas.

Smart Production:  Harnessing power from biomass sources in replacement of coal. Animal manure and wastewater are turned into energy (Waste to Energy). The biogas system is deployed to process manure and wastewater from pig and layer chicken farms. Methane gas deriving from the process is used to produce electricity for the farms’ internal use, saving electricity use by 50-70%.

Smart Consumption: Calculating the carbon footprints of food products for the formulation of an emission reduction plan, and emphasizing eco-friendly packaging. 

Prasit added that in 2023, all CPF business units in Thailand and abroad will jointly devise a roadmap and Climate Transition Action Plans, based on the group’s greenhouse gas emission data in 2020.

The roadmap will guide CPF towards the Net Zero short-term target (2030) and long-term target (2050), taking into consideration the best and scientifically-proven standards under the Science Based Initiatives (SBTi). The SBTi is a partnership between CDP, the United Nations Global Compact, World Resources Institute (WRI) and the World Wide Fund for Nature (WWF). After its launch in 2015, more than 2,000 companies have joined SBTi’s call to set emission reduction targets with science-based initiatives, to keep the average global temperature from reaching 1.5 degrees Celcius above pre-industrial levels.

CPF has implemented a program to increase green areas at operating sites, aside from conservation and rehabilitation projects for terrestrial forests and mangroves under the target to enhance green areas by at least 20,000 rai within 2030. The “CPF Rak Nives at Phraya Doen Thong Mountain Project” in Phatthana Nikhom District, Lopburi province and the CPF Grow-Share-Protect Mangrove Forestation Project in Rayong, Samut Sakhon, Chumporn, Songkhla and Trat provinces have covered more than 14,000 rai.

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https://www.nationthailand.com/pr-news/more/pr-news/40024143

Start the week in style with Marriott Bonvoy’s “Monday Madness” in Thailand

THURSDAY, JANUARY 19, 2023

Guests and local residents can discover a series of attractive culinary offers all across the kingdom, from restaurant dinners to daily bites, social drinks promotions and more!

Bangkok, Thailand – Marriott Bonvoy, Marriott International’s award-winning travel program and marketplace, is making Mondays even more appetizing in Thailand with exclusive epicurean offers. Under the “Monday Madness” promotion, members can kickstart their week with enticing culinary deals and discounts in Bangkok, Phuket, Koh Samui, Pattaya and Rayong. 

Take your pick from these attractive offers for dining and drinks:

W Bangkok is offering “buy on get one free” on all craft beers at the Tipsy Cow, while Royal Orchid Sheraton Hotel & Towers is inviting guests to enjoy free-flow Aperol spritz cocktails at Giorgio’s, when four people dine at this popular Italian restaurant. At Mayfair, Bangkok – Marriott Executive Apartments, diners will receive 15% off all à la carte dishes at Bistro M, and Sukhumvit Park, Bangkok – Marriott Executive Apartments is serving breakfast for only THB 24 (for the second diner, when accompanied by one full-paying guest at Bistro M).

Also in the Thai capital, The Athenee Hotel, a Luxury Collection Hotel, Bangkok has unveiled a special price of just THB 950 for the International Buffet Dinner at Rain Tree Café, and a choice of cocktails for just THB 1 at The Glaz Bar (for the second drink when two cocktails are purchased). Meanwhile at The Westin Grande Sukhumvit, “Monday Madness” will take place at Seasonal Tastes, with a tempting price of THB 990++ per person for the Lunch Buffet, Kisso Japanese restaurant, which is offering complimentary maki rolls with every set lunch menu, and Zest Bar & Terrace, where guests can sip free-flow Chang beer accompanied by a choice of snacks.

At Courtyard by Marriott Bangkok, the promotion extends to a 20% discount on all food and drinks at MoMo Café, and The St. Regis Bangkok is inviting guests to sip its Violet Hour Martini, with 50% off the second drink at The St. Regis Bar, while VIU has revealed an exclusive price for its Surf & Turf Set: only THB 2,990++ per person. 

In Phuket, Four Points by Sheraton Phuket Patong Beach Resort is offering 10% off when guests spend THB 2,000 at Sears & Co, and Phuket Marriott Resort & Spa, Merlin Beach will let guests unwind with a cheese board and a glass of wine for just THB 650 net. JW Marriott Phuket Resort & Spa is showcasing the finest fruits de mer with its Fresh Andaman Seafood Stack, and Le Méridien Phuket Beach Resort is serving its “Double Trouble” beer & burger combo for only THB 699++. 

Renaissance Phuket Resort & Spa is making Mondays more appetizing with a special offer, THB 999++ for four cocktails accompanied by a plate of beef nachos, and at The Naka Island, a Luxury Collection Resort & Spa, steak lovers can savor a succulent Argentinian spiced ribeye and a glass of red wine for THB 1,999++ at My Grill.

In Koh Samui, Sheraton Samui Resort is training guests for a “Wine Marathon”, three hours of free-flow wine and beer for just THB 690++ at Blue Monkey, and Vana Belle, a Luxury Collection Resort is letting guests savor its “Bubble Breakfast” at Kiree Restaurant, with a series of delicacies accompanied by sparkling wine.

Finally on Thailand’s Eastern Seaboard, Courtyard by Marriott North Pattaya is offering a 50% discount on all beverages at Spart’s Bar throughout the day, and Rayong Marriott Resort & Spa is celebrating with a “buy one get one free” promotion on its Rayong Night cocktail at The Lounge.

For more information on exclusive dining deals, please click here 

Monday Madness runs from 16th January to 27th March 2023, and is only available for Marriott Bonvoy members. Not a member yet? Click here to sign up for free today!

To learn more about Marriott Bonvoy, please visit https://www.marriott.com/loyalty.mi.