Message from Chairman

Dr. Boon Vanasin Chairman

The year 2017 has been a remarkable year for Thonburi Healthcare Group Public Company Limited (“the Company”) as it celebrates the 40th anniversary and the opening of new outpatient building (OPD3) to accommodate expansion in the number of customers, which reflects confidence in quality and standard of service of the Company.

On 7 December 2017, the Company successfully listed its 849,080,000 ordinary shares on the Stock Exchange of Thailand (ticker symbol: “THG”). I wish to express my gratitude to the Company’s directors, management and IPO team for their devotion during the past two years of preparation for the listing. It had been hard work for the team in ensuring that the Company’s operational system is in compliance with applicable laws and regulations. The proceeds raised from the initial public offering was used as repayment of loan from financial institution and the Company’s working capital. The number of shareholders of the Company had increased from 3,475 shareholders to 8,218 shareholders (as of 29 December 2017).

In respect of the operating performance for the year 2017, revenues and profit of the Company has increased from medical services, healthcare solutions provider and other businesses:

Year 2016 Year 2017 % growth
Total revenues Baht 6,229 million Baht 6,611 million 6.1
Net profits Baht 511 million Baht 554 million 8.4

Thonburi Hospital (growth in net profit of 16%) and Thonburi 2 Hospital (growth in net profit of 4.8%) for being the important force in generating additional revenues to the Company, while the Company is still in the process of investment and development of projects locally and overseas and revenues from such projects will be recognized in the year 2018.

During the past year, investment and revenues from overseas projects consist of joint venture for construction of hospital and provision of advisory service for hospital project. At the beginning of November 2017, the Company opened a new hospital called ‘Welly Hospital’ in Weihai, Shandong Province, the Republic of China. It is the first Thai hospital in the Republic of China, which receives much interest from the public. Ar Yu International Hospital in Myanmar is currently under construction and is expected to commence its operation in the middle of the year 2018. In addition, the Company generates revenues from provision of advisory service for hospital projects in the Republic of China and Saudi Arabia.

Another important step of the Company is the development of business to accommodate aging society to which the Company gives priority and considered the project as its main mission. ‘Jin Wellbeing County’, the first project of the Company to be awarded ‘Honorable Mention’ for Environment for Aging Design Showcase at 2018 Environment for Aging Design Showcase, the United States. It was the only project from Asia to be awarded at the global event. The key principle of the project is to provide healthcare and medical services to elders with understandings in the society and environment suitable to physique of elders. One of the services offered by the project includes facilitation of daily life of the resident by the working team and the resident can choose among the services offered such as assistance to a sitting position, preparation of food and drugs, exercising, and other types of assistance, for instance in the event of falls or emergency treatments. The project also offers recreational activities and consulting on emotions of, and physical therapy for, elders to make sure that they are mentally and physically healthy. All family members of the elders are welcome to reside in the same community as if the residence is their home. There is understanding neighbors and green area and rich natural environment, and the elders will not feel alone while their children are away for work or school during daytime. In addition, the project has 24-hour care for patients who are unable to look after themselves. Therefore, all family members can rest assured that health of their beloved elder is in good hands of specialists.

Jin Wellbeing County is a project which truly demonstrates love and care of children towards their elders. The Company is proud to be a part of the driving force behind Thailand’s quality aging society, including giving motivation to family members to take care of their elders with understandings. The environmental impact assessment (EIA) of the project has been approved and the first phase of the project has commenced construction, with the investment value of over Baht 3,700 million.

In addition, the Company was granted leasehold right in the building of the Thai Red Cross Society for development of Thonburi Rehabilitation Hospital (Bumrungmuang Road). The project will use high technology to treat elderly patients, including patients of different age range and is expected to commence operations during the year 2018.

I thank you all shareholders for your continued support and confidence in the vision and mission of the Company to protect your happiness in all stages of life. I thank our executives and employees for their helps in driving the Company forward professionally to become a sustainable business under applicable regulations and ethics. This is consistent with the Company’s vision, which states that “We are the medical business group, who is more than just a hospital. We understand and wish to provide access to medical services to most of the population in order to develop high quality of life.”