Message from the Group Chief Executive Officer
The year 2024 marks a period of challenges and encountering significant changes for THG. Regarding the disclosure to the Stock Exchange of Thailand (SET) about suspicious internal transactions that were discovered - this issue undoubtedly affected the confidence of the investors and the public. Nevertheless, from another perspective, this reflected the seriousness of our audit process and the strict adherence to transparency and good governance by THG's management team and the Board of Directors. As soon as the clear evidence of suspicious transactions was found, we did not conceal it, furthermore; we promptly disclosed the information to the public.
Restoring confidence has become our next urgent measure. The process covers analyzing potential impacts on financial status, operational performance, and legal risks to determine response strategies. This leads to organizational restructuring and business plan adjustments, as well as learning from this important lesson to establish new operational frameworks for maintaining management standards, prevention controls, and managing future vulnerabilities.
However, we believe these events will only impact THG in the short term. Summarizing THG’s overall performance in the last year, despite slowing revenue, the new management structure has brought in experts across all dimensions. We are ready to continue working, reviewing and improving business plans for greater efficiency. This is supported by the fundamental strength of THG’s hospital business, both central and regional,
which has been sturdy for many years. Several locations have expanded their facilities to accommodate more inpatients and outpatients, including Thonburi Hospital, Thonburi Thawiwatthana Hospital, and Thonburi Rajyindee Hospital. Additionally, specialized centers have been launched to provide more complex treatments. As a result, THG’s registered bed capacity across all affiliated and network hospitals throughout Thailand has recently increased from the original total of 1,520 beds to 1,767 beds. This demonstrates THG’s significant growth potential in the business.
Regarding the Jin Wellbeing County Project, we are currently studying the feasibility of finding partners to jointly develop the area behind the project to completion. For Thonburi Bamrungmuang Hospital, after THG’s management team decided to shift the business direction from focusing on Medical Tourism to domestic patients, they have sent teams from Thonburi Hospital and Thonburi Thawiwatthana Hospital to assist in management. The operating performance has returned to a much better direction.
On the international front, besides Ar Yu International Hospital in Myanmar, which is recognized for its world-class standard and maintaining steady growth, there will be an investment to launch the BeWell Health and Wellness Clinic in Ho Chi Minh City by 2025, to provide comprehensive personalized in-depth health screening services as the first clinic in Vietnam.
The company has established sustainability goals and plans that cover all dimensions of operations, with an emphasis on close monitoring and supervision. This includes not only the safety and good health of service recipients and employees, but also environmental management and greenhouse gas emission reduction. The company aims to reduce greenhouse gas emissions by at least 20 percent from the 2024 baseline by 2029 to create a sustainable environment for all.
I would like to thank the Board of Directors, executives, employees, medical personnel, nurses, as well as network partners and allies who continue to work together to drive the organization through obstacles. This is the key that will help THG return to stable and sustainable growth, reinforcing our role as an efficient organization in both business operations and social contribution across all sectors under good corporate governance. To our shareholders, I express once again my sincere gratitude for your continued trust in us.