TQMalpha Sets Growth Target of 5-10% for 2025 Amid Economic Challenges
Despite global economic volatility, TQMalpha plans to expand its market presence and prepare its subsidiaries for potential IPOs.
TQMalpha, a prominent company in Thailand's insurance sector, has announced a revenue growth target of 5-10% for the year 2025, despite ongoing global economic uncertainties and stringent financial policies.
Dr. Anchalin Phannipa, the chairperson of TQMalpha, emphasized that the company will continue to develop its New Growth Engine through strategic collaborations within its business group to support long-term growth and widen its customer base.
Although TQMalpha projects an overall growth of 5-10%, subsidiaries within the group are expected to experience even higher growth rates, particularly in the insurance sector, which is anticipated to grow at around 30%.
Dr. Napasanan Phannipa, the Chief Executive Officer of TQMalpha, outlined five strategic priorities aimed at driving the company’s growth:
Maintain Market Leadership in Automotive Insurance: TQMalpha plans to reinforce its position as a leader in the automotive insurance market.
Create New S-Curve via Non-Motor Insurance Business: The company aims to diversify its offerings through non-motor insurance products.
Develop a Comprehensive Digital Platform: Investment in digital channels is critical for enhancing customer engagement and service delivery.
Restructure Lending Services: TQMalpha plans to reduce vehicle collateral loans, shifting focus to lower-risk loans and insurance premium financing.
Enhance Synergy Among Subsidiaries: By working closely with affiliated companies, TQMalpha seeks to expand opportunities in the B2B market, leveraging partnerships with entities such as TQR, My Group, BUILK ONE, True Life TRUE EXTRA, and Easy Lending.
Additionally, TQMalpha is preparing to list several of its subsidiaries—My Group, BUILK ONE, True Life TRUE EXTRA, and Easy Lending—on the Stock Exchange of Thailand (SET).
While financial statements and internal controls are in place for the initial public offering (IPO) of these subsidiaries, market conditions remain challenging, leading to a decision to delay the listings until the market becomes more favorable.
The company believes that bringing its subsidiaries to the stock market will enhance both revenue and profitability visibility for the parent company, thereby contributing positively to overall earnings growth.
Central to TQMalpha’s strategy is the development of digital solutions, utilizing Big Data and artificial intelligence (AI) to improve target audience reach and customize products to meet consumer demands.
The company is also collaborating with leading insurance firms to design products that better cater to consumer needs.
Dr. Anchalin Phannipa, the chairperson of TQMalpha, emphasized that the company will continue to develop its New Growth Engine through strategic collaborations within its business group to support long-term growth and widen its customer base.
Although TQMalpha projects an overall growth of 5-10%, subsidiaries within the group are expected to experience even higher growth rates, particularly in the insurance sector, which is anticipated to grow at around 30%.
Dr. Napasanan Phannipa, the Chief Executive Officer of TQMalpha, outlined five strategic priorities aimed at driving the company’s growth:
Maintain Market Leadership in Automotive Insurance: TQMalpha plans to reinforce its position as a leader in the automotive insurance market.
Create New S-Curve via Non-Motor Insurance Business: The company aims to diversify its offerings through non-motor insurance products.
Develop a Comprehensive Digital Platform: Investment in digital channels is critical for enhancing customer engagement and service delivery.
Restructure Lending Services: TQMalpha plans to reduce vehicle collateral loans, shifting focus to lower-risk loans and insurance premium financing.
Enhance Synergy Among Subsidiaries: By working closely with affiliated companies, TQMalpha seeks to expand opportunities in the B2B market, leveraging partnerships with entities such as TQR, My Group, BUILK ONE, True Life TRUE EXTRA, and Easy Lending.
Additionally, TQMalpha is preparing to list several of its subsidiaries—My Group, BUILK ONE, True Life TRUE EXTRA, and Easy Lending—on the Stock Exchange of Thailand (SET).
While financial statements and internal controls are in place for the initial public offering (IPO) of these subsidiaries, market conditions remain challenging, leading to a decision to delay the listings until the market becomes more favorable.
The company believes that bringing its subsidiaries to the stock market will enhance both revenue and profitability visibility for the parent company, thereby contributing positively to overall earnings growth.
Central to TQMalpha’s strategy is the development of digital solutions, utilizing Big Data and artificial intelligence (AI) to improve target audience reach and customize products to meet consumer demands.
The company is also collaborating with leading insurance firms to design products that better cater to consumer needs.
