Message from Chairman

 

In the year 2017, the company group underwent significant changes including the acquisition and tender offered of Bangkok First Investment and Trust Public Company Limited then the Company held 36.35 percent of BFIT’s paid-up capital. As a result, the Company gained from reclassify investment to subsidiary amounted Baht 102 million, and also gained from comparing between fair value from valuation and cash value of BFIT amounted Baht 186 million. After the Company acquired and controlled BFIT, the Company has to proceed with the business restructuring plan by partial business transfer to Srisawad Power 2014 Company Limited, the subsidiary, change the Company’s business to Non-operating Holding Company, and establishing a financial business group.

For international business, the Company started secured loans in Vietnam and suspense credit sales business in accordance with Bank of Thailand concerning with the financial business group. And established new subsidiary called Srisawad Leasing Laos Company Limited in Laos, and obtained lending business license. This new company will operate in 2018.

As for the core business of the company Group, after restructuring by partial business transfer to the Company’s subsidiary, there was business restructuring among the group and classified by type of contracts. Nonetheless, SAWAD’s group was able to increase the portfolio size by 25% from year 2016, and increase the number of branches by 360 branches by year end 2017, totaling 2,490 branches in operation in all major municipalities throughout all provinces in the country. At the same time, the Company has slowed down on providing personal loans while ramping up the nano finance product. All these factors enabled the Company to increase the net profit from Baht 2,008.69 million in 2016 to Baht 2,715.15 million in 2017, a growth rate of 39% from year to year.

In 2018, although the company group will be going through major changes in the restructuring effort, it will continue to focus on sustaining the profit growth as it has in the past. The aim is to grow the business by another 30%, through branch expansion, diligent credit assessment, risk management, and expanding the various lines of business or identify additional business partners not only local partners but also foreign partners, to expand core business as well as the new opportunities.

With the skills of the Company’s employees and management team from their deep experience in the business, the Company aims to produce attractive returns for all the stakeholders including shareholders, business partners, customers and employees.

On behalf of the Board of Directors, I would like to express our gratitude to all customers, business partners, investors, and shareholders for the support that the Company has received. I would also like to thank all of our personnel and management team for the dedication to the company group, enabling us to grow and succeed at the rate that we have thus far.



Mr. Sukhont Kanjanahuttakij
Chairman