Moving into 2023, MINT is fully committed to driving business “back to growth” with prudent business strategies and investment plans for Minor Hotels, Minor Food, and Minor Lifestyle to remain market leaders with the ability to accommodate current and future customer demand.
Minor International Public Company Limited (MINT) shared the recent success in 2022, as all business units returned to profitability following the recovery in economic and tourism activities. MINT benefits from such positive growth momentum, together with strategic initiatives to strengthen and enhance financial resilience in the long term.
The debentures will be issued through leading financial institutions across Thailand, generating opportunities for investors and continued success for the company. No. 1/2566 via public offering from 7 – 9 February 2023. MINT is issuing new subordinated debentures.
Mr Dillip Rajakarier, Group Chief Executive Officer of Minor International PCL (MINT), said, “MINT’s overall business performance in 2022 showed tremendous growth, supported by global economic recovery, particularly in the travel and tourism industry to pre-pandemic level. As a result, in Q3 22, all three leading names, Minor Hotels, Minor Food and Minor Lifestyle, all secured positive profit margins exceeding the pre-pandemic level in 2019. Likewise, the 9M22 bottom line returned to profitability.
The two-fold increase in arrivals will be achieved following the recent reopening of Mainland China on January 8, 2023, which is expected to result in additional tourist arrivals to the previous forecasts, stimulate demand and further drive economic activities for all businesses of MINT.
MINT is implementing its three-year strategic plan to strengthen its winning brand portfolio, improve productivity and profitability, join forces with partners to achieve growth, enhance innovation and digitization, empower people and teams, and ensure sustainable growth. The number of tourist arrivals to Thailand is forecasted to increase from approximately 11 million in 2022 to 22 million in 2023.
According to Mr Dillip, the Company’s business strategies aim to build strong foundations to be at the head of “Back to Growth” acceleration in 2023.
For Minor Hotels, as travel restrictions are removed, the Company plans to drive occupancy and room rates to align with more
robust demand. Positive momentum remains to be seen in 2023, with the continued increase in bookings. It will also enhance service to capture more business travellers while boosting marketing efforts.
Minor Food’s efforts include new initiatives such as new store formats, a customer loyalty program to enhance customer engagement, and new product development to create excitement in the market. Continues to grow revenues across all distribution channels while tightening costs to boost its overall profitability. These strategies will remain the drivers for Minor Food to be at the forefront of its industry.
Minor Lifestyle has responded to the growing e-commerce market by expanding its channel, focusing on being more customer-centric and creating seamless shopping experiences for both online and offline platforms, whether it be a variety of product selections, competitive pricing, convenient payment options and return policy. It aims to increase customer retention and acquire new customers using data analytics.
“With all strategies in place, MINT is confident in the prospect of the Company’s performance and continued growth in 2023. on the back of improving economic outlook, which will reaffirm confidence from investors and stakeholders in MINT,” Mr Dillip concluded.
MINT has been rated “A” with a “stable” outlook, while the subordinated perpetual debentures were rated at “BBB+” by TRIS Rating on December 2, 2022.
Mr Chaiyapat Paitoon, Chief Financial Officer of Minor International PCL (MINT), further added,”To lead the Business “Back to growth” in 2023 and solidify its 50-year business fundamentals , MINT strives to maintain and enhance its relationship with all stakeholders under the concept of “Bond with us”.”
“Starting today, those interested in subscribing to the subordinated perpetual debentures may contact any of the 11 participating financial institutions,” Mr Chaiyapat concluded. The new subordinated debentures are expected to be offered to the public between 7 – 9 February 2023 through leading financial institutions across Thailand, including Bangkok Bank, Krung Thai Bank, Bank of Ayudhya, KASIKORNBANK, Siam Commercial Bank, CIMB Thai Bank, Kiatnakin Phatra Securities Plc., Thanachart Securities Plc.,
“Looking forward, we believe our renowned reputation and high-quality assets will continue to consistently generate increases and enhance profitability and returns for all stakeholders.”
With this, MINT is offering new subordinated perpetual debentures, MINT No.1/2566.
Written by: Supaporn Pholrach (Joom)
