Message from the Chairman and CEO.
The past two years have seen the global economy deeply impacted by the COVID-19 pandemic, causing disruption across all business sectors. But with the advent of 2022, we began to see a turnaround as vaccinations became more prevalent and the number of cases decreased. As a result, people began to feel more at ease, and the economy started to recover. In Thailand, we’ve seen a similar trend with the tourism industry, which is a vital factor in our nation’s economy, beginning to pick up momentum. Though we’ve yet to see a full return of Chinese tourists, the relaxation of travel restrictions in various countries has brought a rise in visitors. Additionally, the service sector has also made strides towards recovery. Still, external factors like the ongoing conflict between Russia and Ukraine, which have contributed to inflation and high interest rates, continue to pose challenges for businesses. In 2022, the performance was in line with our expectation with total revenue of 3,726.9 million baht and net profit of 885.5 million baht.
In today’s world, we face increasing challenges, as evidenced by the situations mentioned above. The changing and uncertain environment has impacted consumer behavior, and traditional business models may not be sufficient to meet the challenges of this era. It is important to diversify risks, find new business opportunities, and respond to changing customer needs.
For over 70 years, we have accumulated expertise and built a network to invest in resources, making us ready to adapt and grow. In 2022, we restructured our organization and changed our name from TQM Corporation Public Company Limited to TQM Alpha Public Company Limited with a mission to eliminate uncertainty in life through insurance and financial services. We have expanded beyond our core insurance business to include financial services, which help customers create wealth and support their new opportunities for future growth. Additionally, we have added a technology platform business to our portfolio to connect and expand our customer base, using our technology resources and capabilities to provide complete solutions. We use both high-tech and high-touch methods to ensure convenient and secure access to insurance and financial services.
We are confident that these three business groups, along with all the companies within our group, are well-coordinated and supportive of one another to unlock their full potential, fostering sustainable growth in accordance with the important policies that we have consistently upheld and implemented. These policies cover economic, social, and environmental dimensions, as well as corporate governance policies that prioritize stakeholders. We have applied this sustainable development approach to our internal operations, and we are proud that our good intentions have been recognized by our inclusion in the 2022 Thailand Sustainability Investment (THSI) list for the financial business group by the Stock Exchange of Thailand, as well as our continuous excellent rating from the Institute of Directors Thailand for three consecutive years. We also received the ASEAN CG Scorecard award for the ASEAN region in 2023.
On behalf of the Chairman and CEO, the board members, executives, and employees of TQM Alpha Public Company Limited, we would like to express our heartfelt gratitude to our shareholders, business partners, customers, financial institutions, management, employees, and all stakeholders who have consistently placed their trust and support in us. Your support has been the driving force behind our business development, creating benefits for the community as a whole and fostering the creation of a better society in Thailand. We are committed to continuing to provide sustainable financial well-being to the people of Thailand and to improving their quality of life in the future.
Dr. Unchalin Punnipa
Chairman & President | TQM Alpha Public Company Limited
Dr. Napassanun Punnipa
Chief Executive Officer | TQM Alpha Public Company Limited
