Dear Fellow Shareholders,
Our lives and daily activities in 2021 continued to be affected by the pandemic and the Company’s focus remained on supporting our staff, clients and suppliers to prioritize their safety and our shared business continuity.
The Company earned Baht 152.82 million in 2021 on a slightly higher revenue to Baht 385.42 million or a 3% growth YoY. This resulted from an 11% growth in our factoring volume to Baht 29,659 million as the Thai economy recovered from the severe pandemic disruptions of 2020. Interest expenses declined by 10% YoY or around Baht 4 million while operating expenses increased by 7% YoY or around Baht 7 million. Allowance for loan losses dropped by 95% YoY or almost Baht 22 million due to lower NPL level and some recoveries.