Chairman's Statement

The year 2023 posed significant challenges for our company, largely due to an economic slowdown and marked fluctuations in the financial and capital markets. These conditions necessitated strategic operational planning to sustain future growth. Following an easing of the COVID-19 situation, regulatory bodies relaxed certain measures that were initially implemented to assist customers impacted by the pandemic. This led to a notable increase in the volume of distressed debts within the system. In 2023, we achieved our highest level of investment in distressed debts, committing over THB 7,311 million to predominantly unsecured non-performing debts.

Despite the economic downturn influenced by various instabilities both domestically and internationally, the concerted efforts of our board of directors, management, and staff have ensured that we continue to achieve operational growth targets. This year marked our eighth consecutive year of outstanding performance in company operations. A key highlight was achieving a record high in debt collection (Cash Collection) for the eighth year, with over THB 8,710 million in cash flow (including contributions from JK Asset Management Co., Ltd.) Consequently, the company's total revenue reached THB 5,086.6 million, and the net profit attributable to the company’s shareholders was THB 2,010.7 million, marking our best performance yet for the eighth consecutive year.

In addition, following our joint venture with the Kasikorn Bank Business Group in 2022 for the establishment of JK Asset Management Company Limited – the first special-purpose management company under the policy of the Bank of Thailand – our company and its partners have continued to achieve robust operating results.

This year marks the second year of the joint venture, with JK Asset Management Company Limited successfully achieving its operational targets, culminating in a total net profit exceeding THB 1,076 million.

Looking ahead to 2024, amidst an economic climate likely to experience a slowdown and rising household debt, these factors pose significant challenges to our operational outcomes. Nevertheless, the company remains committed to strategically investing in high-potential non-performing debts. This involves meticulous consideration of investment costs and the management of operating cash flows to ensure they adequately support our ongoing operations and investments. On this occasion, we would like to express our gratitude to our shareholders, customers, business partners, the management team, and all employees for their continued support of the company. We reaffirm our commitment to conducting business with professionalism and continuously enhancing our organizational capabilities. This is in line with our policies and societal responsibilities, aiming to uphold our role as a positive exemplar within the community, thus improving the quality of life for society at large indefinitely.