We are exploring new business opportunities to bolster our long-term profitability. We also plan to offer additional loans to customers whose contracts are nearing expiration, aiming to retain high-quality customers who can contribute sustainable profits to the Company.
Economic Outlook and Business Performance in 2024
In 2024, the global and Thai economies were volatile and weak, impacting businesses across all sectors in Thailand. Meanwhile, household debt rose while income levels declined. In response, the government and the Bank of Thailand implemented various economic stimulus measures throughout the year and continued to address ongoing household debt challenges. These economic conditions, combined with reduced purchasing power, had a direct impact on the Company’s business.
Throughout 2024, the Company encountered multiple challenges, particularly related to liquidity in the domestic financial market, which led to higher financial costs. Ensuring the quality of our customers is a key priority, and we have consistently emphasized efficient management of this aspect. During the year, the Company adopted several measures to maintain a high-quality portfolio, helping customers fulfill their debt obligations throughout their contracts. Rather than seeking a large number of new customers, the Company prioritizes portfolio quality and continuously monitors existing customers to ensure timely payments.
At the same time, the Company focused on improving operational efficiency in all areas and carefully controlled expenses, fostering discipline across all units. This approach is expected to have a positive long-term impact on profitability and increase the Company’s competitiveness. As a leader in the motorcycle hire purchase business, the Company enjoys a distinct competitive advantage and has the ability to dictate the industry’s direction.
Business Outlook for 2025
We anticipate that economic conditions in 2025 will remain uncertain. Economic stimulus policies may continue to lack clarity, and ongoing international conflicts show no sign of resolution or improvement. Meanwhile, trade disputes between the United States and other major global powers are becoming more pronounced. These factors underscore the need for the Company to operate cautiously and manage its business prudently.
Accordingly, in 2025, the Company will continue following the same management approach as in the previous year, focusing on customers who are most likely to meet their debt obligations throughout the contract term. We will also closely monitor our existing customers to ensure consistent and timely repayments, and we will revise our risk management policies for each customer group as necessary.
The Company will adopt new technologies to enhance operational efficiency, while continuing to reduce unnecessary costs. In addition, we are exploring new business opportunities to bolster our long-term profitability. We also plan to offer additional loans to customers whose contracts are nearing expiration, aiming to retain high-quality customers who can contribute sustainable profits to the Company.
On behalf of the Company, I would like to express our gratitude to the our shareholders, investors, clients, partners, and all stakeholders who have supported Srisawad Capital 1969 Public Company Limited. We remain committed to creating positive outcomes and delivering robust returns for everyone involved.
