Performance 2Q19 2Q18 YoY% 1Q19 QoQ% Unit: MB Loan Receivables - - PowerPoint PPT Presentation

Performance Unit: MB 2Q19 2Q18 YoY% 1Q19 QoQ% Loan Receivables 54,421 41,469 31.23% 50,592 7.57% Total Revenue 3,071 2,536 21.09% 2,857 7.49% Net Profit 1,021 912 11.95% 1,005 1.59% Net Profit Margin 33.27% 35.96% 35.17%

2015 2016 2017 2018 1H18 1H19 HoH%

Loan Receivables

12,630 23,541 35,622 48,047

41,469

54,421 31.23%

Total Revenue

2,559 4,471 7,470 10,417

4,884

5,928 21.37%

Net Profit

825 1,464 2,501 3,713

1,746

2,026 16.04%

Net Profit Margin

32.24% 32.74% 33.47% 35.64%

35.75%

34.19%

MTC.BK on Stock Exchange of Thailand

Muangthai Capital PLC

www.muangthaicap.com

52-wk Hi/Lo 57.75/32.25 Share Outstanding (mil.) 2,210 Market Cap (mil.) 119,780THB P/E Ratio 30.83 P/BV Ratio 9.00 Dividend 15%

Key Statistics About Company

Muangthai Capital PLC operates as a microfinance service company, providing retail loan products such as vehicle title loan, land title loan, personal loan under BOT’s licenses and regulations. Address 32/1 Charansanitwong Road, Bangor, Bangplad, Bangkok, 10700 Thailand Phone 66-2-0881033 Chuchat Petaumpai CEO Daonapa Petampai Managing Director

Executives

Apichart Pengsritong Chairman of the Board/ Independent Director Chuchat Petaumpai Director Daonapa Petampai Director Suksit Petampai Director Kongkeaw Piamduaytham Independent Director Nongnuch Dawasuwan Independent Director Kampol Tatiyakavee Independent Director Yodhin Anavil Independent Director

Boards

Loan Receivables classified by collateral of Loan

Personal Loan 10.62% Nano 9.76% Motorcycle 33.71% Car 31.98% Tractor 4.40% Land 9.53%

Proportion of Loan Receivables as of Jun, 30 2019

20,000 40,000 60,000 2015 2016 2017 2018 1Q19 2Q19 7,526 10,555 13,440 16,800 17,156 18,345 3,862 7,779 11,671 15,394 16,105 17,404 538 1,136 1,733 2,081 2,170 2,391 340 1,037 2,844 4,925 5,296 5,780 252 2,583 4,921 6,631 4,898 5,187 111 451 1,013 2,216 4,967 5,314 Motorcycle Car Agricultural Vehicle Personal Loan Land Nano

Loan Receivables per Branch

13.43 13.65 14.24 14.38 14.41 14.35 14.09 14.65 14.69 14.56

10 20 2015 2016 2017 2018 1Q18 2Q18 3Q18 4Q18 1Q19 2Q19 Loan receivable per branch

12,630 23,541 35,622 48,047 50,592 54,421 940 1,664 2,424 3,279 3,444 3,739

• 1,000

2,000 3,000 4,000 10,000 20,000 30,000 40,000 50,000 60,000

2015 2016 2017 2018 1Q19 2Q19

Loan receivable Number of branch

Loan Receivables and No. of Branches

Remark: Calculated by averaging four quarters.

(Figure is annualized)

Million Baht

Remark: 1Q2019 Loan Receivable Classified by Collateral of Loan Restatement

500 1,000 1,500 2,000 2,500 2015 2016 2017 2018 1Q19 2Q19

216.0 419.3 690.2 924.0 926.2 1,011.4 119.6 226.4 480.8 575.2 624.1 629.7 117 251 441 540 527 595

50% 60% 70% 80% 90% 100% 2015 2016 2017 2018 1Q19 2Q19

91.89% 91.49% 90.77% 92.00% 91.49% 91.14% 7.18% 7.44% 7.99% 6.88% 7.47% 7.77% 0.92% 1.07% 1.24% 1.12% 1.04% 1.09%

Overdue less than 30 days Overdue 31-90 days Overdue more than 90 days

Asset Quality Ratio Loan Receivables Classified by Aging

0.25% 1.83% 2.30% 1.40% 0.95% 1.44% 0% 2% 4% 2015 2016 2017 2018 1Q19 2Q19 Credit cost = Bad debts and doubtful account / Loan receivables

Aging Rate of allowance for doubtful accounts Current and past due for not more than 30 days 1% Past due for 31 - 90 days 2% Past due for more than 90 days 100% Receivables transferred to litigation 100%

• 1. Allowance for Doubtful Account by Aging
• 2. Additional provision for potential uncollectible receivables

(General Reserve) : calculated by PD x LGD

Allowance for Doubtful Account

Million Baht Allowance for doubtful account by Aging Additional provision for uncollectible receivables Non performing loans coverage ratio = allowance for doubtful / NPL 645.7 335.6

Loan Receivables Classified by Aging calculated from Net Loan / Total Net Loan Net Loan = Loan receivables – unearned interest income

1,171.0

287.61% 257.35% 265.41% 277.71% 294.32% 275.84%

1,499.2 1,550.3 1,641.1

4,000 8,000 12,000 2015 2016 2017 2018 2019 2,559 865 1,563 2,348 2,857 1,003 1,765 2,537 3,071 1,201 1,968 2,711 1,402 2,174 2,821 Q1 Q2 Q3 Q4

Total Revenues Revenues Structure Million Baht Interest Incomes

Million Baht 4,000 8,000 12,000 2015 2016 2017 2018 2019 2,225 769 1,415 2,140 2,665 897 1,600 2,314 2,862 1,083 1,796 2,478 1,270 1,984 2,612 Q1 Q2 Q3 Q4 +21.04% YoY +7.49% QoQ 0% 20% 40% 60% 80% 100% 2015 2016 2017 2018 1Q19 2Q19 87.0% 90.6% 91.0% 91.6% 93.3% 93.2% 12.4% 9.1% 8.6% 7.6% 6.2% 5.8% 0.7% 0.3% 0.5% 0.7% 0.5% 0.9% Interest Income & Management fee Fee and Service Income Other income +23.68% YoY +7.39% QoQ 4,019

4,471 7,470

6,795

10,417

9,544

1,275 2,000 3,012 4,103 920 986 1,060 1,139 1,154 1,232

54.68% 48.42% 44.28% 44.01% 43.44% 43.26% 43.84% 45.50% 45.67% 45.50%

0% 20% 40% 60% 1,000 2,000 3,000 4,000 5,000

2015 2016 2017 2018 1Q18 2Q18 3Q18 4Q18 1Q19 2Q19

Operational Expense % Cost to Income Million Baht Cost to income = (S&A + Loss on disposal of asset foreclosed) / (Total revenue – FC)

SG&A Expenses

5,527

5,928

23.97% 23.48% 23.91% 23.79% 24.05% 24.10% 23.77% 23.26% 22.31% 22.49% 4.96% 2.83% 3.06% 3.53% 3.35% 3.48% 3.62% 3.70% 3.64% 3.72% 19.01% 20.65% 20.85% 20.26% 20.70% 20.62% 20.15% 19.56% 18.67% 18.77%

0% 10% 20% 30%

2015 2016 2017 2018 1Q18 2Q18 3Q18 4Q18 1Q19 2Q19

Interest Income Ratio Interest Expense Ratio Interest Spread

Net Profit

Million Baht

Net Profit Margin and Return on Equity Interest Income Ratio, Interest Expense Ratio and Interest Spread

32.24% 32.74% 33.47% 35.65% 35.50% 35.96% 35.61% 35.52% 35.19% 33.24% 15.34% 23.72% 31.99% 34.96% 35.62% 36.31% 35.74%34.00% 31.41% 30.15% 0% 10% 20% 30% 40% 2015 2016 2017 2018 1Q18 2Q18 3Q18 4Q18 1Q19 2Q19

Net Profit Margin Return on Equity 1,000 2,000 3,000 4,000 5,000 2015 2016 2017 2018 2019 825 280 536 834 1,005 300 571 912 1,021 401 650 965 483 743 1,002 Q1 Q2 Q3 Q4

+11.95% YoY +1.59% QoQ Remark: Annualized by averaging over four quarters.

1,464

* *

2,501

*

3,713

• Interest Income is calculated using Effective

Interest Rate method.

• Non-Interest Income is collection fee +

brokerage fee income.

• Other Income is consisted of Deposit Interest

Income + Revenue from Asset Depositions

2,026

Interest Bearing Debts Total Liabilities

Times

Debt to Equity Ratio Shareholders’ Equity

Million Baht 9,000 18,000 27,000 36,000 45,000 2015 2016 2017 2018 1Q19 2Q19 7,431 17,733 28,009 36,847 38,640 42,037 Million Baht Million Baht

• 4,000

8,000 12,000 16,000 2015 2016 2017 2018 1Q19 2Q19 5,652 6,692 8,943 12,299 13,306 13,776 1.31 2.65 3.13 3.00 2.90 3.05 0.00 1.00 2.00 3.00 4.00 2015 2016 2017 2018 1Q19 2Q19

40,750 37,127 35,459

10,000 20,000 30,000 40,000 50,000 2015 2016 2017 2018 1Q19 2Q19 47.02% 26.58% 61.32% 68.92% 64.02% 58.28% 7.83% 13.64% 13.83% 17.61% 29.17% 24.72% 45.15% 59.78% 24.84% 13.47% 6.80% 16.99% Long-term Loans Current of Long-term Loans Short-term Loans

7,125 17,211 27,058

Fundamental

No. Financial Status Ratio 2Q19 2Q18 % 1Q19 % 1. Net loan receivables 54,420.56 41,468.72 31.23 50,592.39 7.57 2. Allowance for doubtful account 1,641.05 1,380.79 18.85 1,550.29 5.85 3. NPL 594.93 558.87 6.45 526.74 12.95 4. Allowance/NPL (2/3) 275.84% 247.07% 294.32% 5. NPL/ Net AR (3/1) 1.09% 1.35% 1.04% 6. Write off 0.05

• 0.25

7. NPL+Write off (3+6) 594.98 558.87 6.46 526.99 12.90 8. NPL+Write off / Net AR (7/1) 1.09% 1.35% 1.04% 9. Total asset 55,813.10 42,632.26 30.92 51,946.46 7.44 10. Total liabilities 42,036.94 32,315.22 30.08 38,640.03 8.79 11. Total equity 13,776.15 10,317.03 33.53 13,306.43 3.53 12. D/E ratio (10/11) 3.05 3.13 2.90

Growth Efficiency

No. Performance Ratio 2Q19 2Q18 % 1Q19 % 13. Net loan receivables 54,420.56 41,468.72 31.23 50,592.39 7.57 14. Total revenue 3,070.86 2,536.49 21.07 2,857.97 7.45 15. Interest and fee income 2,862.25 2,314.06 23.69 2,665.32 7.39 16. Fee and service income 178.60 206.26

• 13.41

177.62 0.55 17. Net profit 1,020.78 912.18 11.91 1,005.36 1.53 18. % Net profit / Total revenue (17/14) 33.24 35.96 35.18 No. Efficiency Ratio 2Q19 1Q18 % 1Q19 % 19. Doubtful account 189.12 157.99 19.70 116.45 62.40 20. Doubtful account & write off (6+19) 189.17 157.99 19.74 116.70 62.10 21. Total employees 8,777 6,916 26.91 8,114 8.17 22. Total branches 3,739 2,889 29.42 3,444 8.57 23. Net loan receivables per employee (1/21) 6.20 6.00 6.24 24. Net loan receivables per branch (1/22) 14.55 14.35 14.69

Thai Government infrastructure investment

20

Thailand’s Eastern Economic Corridor (EEC)

21