Company Overview

Message from the Chairman and CEO

In 2023, the economy remained in a recovery phase, primarily driven by the tourism sector, but the pace slowed due to global economic challenges and rising interest rates. The insurance business also grew correspondingly. The insurance industry has become stronger than in previous years, returning to normalcy after the COVID-19 situation. Overall, insurance products continued to attract consumer interest, which allowed the industry to grow. TQM's performance grew in line with the overall economy, with total revenue of 3,727 million baht, net profit of 886 million baht, and was able to maintain a strong net profit margin at 23%. The company also stood out in the industry with a return on total assets of 17% and a return on equity of 27%.

Moreover, 2023 holds special meaning for us at TQM as we celebrated our 70th year in operation since founding our insurance brokerage back in 1953. We've fortified and broadened our operations nationwide, branched into related business areas, catered to a growingly diverse clientele, and marked our presence on the Stock Exchange of Thailand since 2018. Our journey has seen numerous challenges, notably the shift from traditional in-person sales to a greater reliance on telephonic outreach and the development of a digital sales infrastructure to align with the evolving consumer behaviors.

Regardless of the passage of time, our dedication to the core values of "integrity, fairness, excellent service, and giving back to society" remains steadfast at TQM. With genuine care, we have garnered the trust and confidence of our customers, striving to eliminate the uncertainties that life may bring with our array of insurance and financial services, aligning with our core mission. We're dedicated to delivering value that enhances the quality of life for people in our society. Moreover, to guarantee TQM's sustainable advancement, we invest in the continuous development of our most valuable asset—our people—and leverage technology to refine our operations. We proactively adapt to the changing world, laying down a strong and stable foundation to transition the business to the forthcoming generations, ensuring that TQM's legacy endures within Thai society.

Sustainability is a principle that we at TQM hold in the highest regard because we believe that focusing solely on short-term profitability may not foster long-term business growth. We drive our organization’s sustainability in every dimension-environmental, social, and corporate governance-alongside our business operations. This past year, our company has been consistently recognized for our efforts, receiving a 5-star or 'Excellent' CG Scoring from the Corporate Governance Report of Thai Listed Companies (CGR) for the fourth consecutive year, and being named as one of the sustainable stocks of 2023, or SET ESG Ratings (formerly THSI). Furthermore, since 2020, we have been a committed member of the Thai Private Sector Collective Action Against Corruption (CAC) and have declared our intent to oppose corruption and fraud in all forms.

On behalf of the Chairman of the Board, the Chief Executive Officer, the directors, executives, and all employees of TQM Alpha Public Company Limited, we would like to express our deepest gratitude to our shareholders, partners, customers, and all stakeholders for your unwavering support. We are committed to fostering sustainable growth, enhancing financial stability, and managing risks effectively to continue contributing to the improvement of the quality of life for the Thai people.