Message from Chairman
In 2019, there are important situations causing the World economy and Thailand economy to slow down, including trade wars and foreign conflicts, BREXIT concern, domestic political situation, the delayed disbursement of budget in many government projects, and the highest appreciation of Thai baht value in 6 years. All of them had a wide effect on the industrial sectors.
As for last year business conduct, the Company was cautious and closely monitored the economy. In the beginning of 2019, the Company increased the registered capital for over 755 million Baht to strengthen the financial structure and prepare for the future business expansion. The 2019 business performance reflected 1,963.57 million Baht of net profits, increasing from the previous year by 19.68%. The loan receivables continuously grew to 49,708.61 million Baht, increasing from the previous year by 7.10%. Moreover, the Company has established RTN Insurances Broker Company Limited to operate the life and non-life insurances broker business since the first quarter of 2019 and delivered satisfactory performance.
The 2020 economic direction tends to expand below 2.8% due to the epidemic of Corona Virus, the delayed Expense Budget Act, the drought situation, the declining export sector according to the economy of trade partner countries, and the policy to announce the interest rate reduction to help reduce the economy impact. However, the Company was cautious and closely monitored the economy. By remains committed to be the leader in the loan services for commercial cars, vehicles, other assets and one-stop services.
On behalf of the Board of Directors, I would like to thank you all stakeholders groups and all shareholders for your trust and good support to Ratchthani Leasing Public Company Limited’s business as always. I also appreciated all executives and every employee for your dedication in performing your duties at your fullest ability last year. Please believe that the committees, all executives and every employee will be committed to perform our duties with consciousness and responsibility in order to drive the Company’s business to further achieve the success and continuous and sustainable growth.