A New Chapter of Strategic Growth
The restructuring from 'Ngern Tid Lor Public Company Limited' to 'Tidlor Holdings Public Company Limited' is a significant transformation that helps unlock business potential and growth opportunities for all of us, ready to move forward further than before. Since day one, Ngern Tidlor has grown from a small beginning to becoming a strong national-level leading organization, with all NTLer being important gears that have driven us to this point with determination, dedication, and never stopping to create opportunities for customers and society.
Today, we are stepping into a new chapter of success that is not just organizational restructuring, but opening opportunities for the business to expand steadily, support stronger growth, and strengthen capabilities to better respond to customer needs. Currently, the transition process has entered the stage of making a Tender Offer, which is another important step before TIDLOR shares will be listed on the Stock Exchange according to the plan within 2025.
This transformation is not only expanding the scope of business, but also opening opportunities for all of us to develop ourselves and grow together with an even stronger organization. This is a historical moment when we will together create a new legendary chapter of 'Tidlor Holdings' and move forward to a stable and sustainable future together.
Tracing Success: The Leap Forward Growth of Ngern Tidlor
Since the latest transformation from a 'Limited' company to a 'Public Limited Company' after the past IPO, although the Company had to face 'abnormal conditions' that came in waves, including COVID-19, geopolitical conflicts, politics, interest rates, challenges such as inflation, as well as informal debt issues and household debt levels that remain high and continue to be an important issue for the country.
Ngern Tid Lor PLC was still able to grow the credit business remarkably, from outstanding loans of over 50 billion baht 3 years ago, increasing to 100 billion baht today, which is a success that comes from the united efforts of all NTLers, while being able to control the Non-Performing Loan ratio or NPL well within the target framework, not exceeding 2%, which is lower than the overall industry average of about 3-3.5%, including the cost-to-income ratio which has continued to decline, which is the result of past technology investments, and of course means a higher proportion of income than expenses.
At the same time, Ngern Tid Lor PLC was also able to create an insurance brokerage business that is another pride, adding 3 more brands to answer the questions of customer groups with different needs:
Shield Insurance Brokerwhich has now quickly and proudly become the number 1 insurance broker in the Face to Face channel, with more than 5,000 professional insurance brokers with proper licenses, ready to provide advice and sell insurance products covering cars, people, and homes from more than 15 leading insurance partner companies, providing services through more than 1,700 Ngern Tid Lor branches nationwide, with a growth rate 10 times higher than the market average.
Areegatora platform that opens opportunities for sub-brokers to sell insurance easily, conveniently, and faster with Software-as-a-Service (SaaS) technology that helps compare insurance premiums from various insurance companies, with installment payment services for insurance premiums with 0% cash for up to 10 months, and
heygoody.coma digital insurance broker platform that answers modern customers with services without telesales, where customers can compare insurance premiums and choose to buy insurance online that meets their needs by themselves, conveniently, quickly, within 5 minutes.
Every business has the key to success built from the power of quality teams working together to create deep customer understanding, continuous innovation development, using technology that answers customer needs, as well as creating a system for all businesses to support each other (Ecosystem), resulting in insurance premiums growing from 5 billion baht on the IPO date to breaking through ten thousand million baht today.
Potential to Be Stronger After Becoming 'Tidlor Holdings'
Currently, the structure of Ngern Tid Lor PLC is in the status of a listed company that is a foreign juristic person. This status results in the company having to maintain the Interest-Bearing Debt/Paid-up Capital Ratio not exceeding 7 times, which is something the company must carefully manage to support business expansion.
In addition, this also requires the company to increase registered capital by choosing to pay some dividends as shares to shareholders, which results in withholding tax burden from stock dividends. However, the more the company grows, the more tax burden to be paid for paying stock dividends increases accordingly, causing loss of opportunities to invest such money to create income and profits for the company in the long term.
The restructuring to 'Tidlor Holdings is therefore an important strategic step that will help increase our competitiveness, which will help to
- Reduce tax payment costs from stock dividends by several tens of millions of baht per year, which will help to have more working capital to use for investment and business expansion.
- Help increase flexibility in dividend payment and increase opportunities to reduce tax burden for shareholders from the company's stock dividend payment, as well as help reduce confusion impact regarding stock value (Price Dilution) and earnings per share (EPS Dilution).
- Increase agility and increase management potential more to respond to customer group needs accurately and quickly, keeping up with market changes, and able to expand the market to reach target groups more precisely and comprehensively.
Soaring to the 'Next Level' of 'Tidlor Holdings'
The management team expects that the transition from 'Ngern Tid Lor Public Company Limited' to 'Tidlor Holdings Public Company Limited' will be carried out through making a tender offer for all securities from existing TIDLOR shareholders and bringing TIDLOR shares to list on the Stock Exchange successfully within 2025.
This transformation will help our InsurTech business get closer to people, ready to strengthen the vehicle title loan business under the new structure of 'Tidlor Holdings' that is about to begin.
For co-owners or those who invest in TIDLOR shares, if you are ready to be part of this important opportunity to move forward together with 'Tidlor Holdings' towards stable and sustainable growth, you can participate in accepting the Tender Offer between March 10, 2025 to April 30, 2025, 9:00 am - 4:00 pm (business days only) to be a co-owner of "Tidlor Holdings" and receive returns from business operations with a strong technology foundation, supporting sustainable growth together.
TIDLOR shareholders can follow the details of the share exchange procedure (Tender Offer) at www.tidlorinvestor.com/tidlorholdings