In the bustling financial arena of Thailand, where numbers often narrate the tale of success, Tidlor Holdings Public Company Limited (“Tidlor Holdings” or “TIDLOR”) has made headlines with an exciting announcement. With the agility of a financial gymnast, they have gracefully somersaulted to a new height: an “A+/Stable” credit rating, courtesy of TRIS Rating Co., Ltd. This marks a triumphant milestone for the company, all thanks to their shrewd restructuring into a holding entity. Just a few key maneuvers and—voila—they’ve slashed their funding costs like a master chef chopping onions, but with much less crying involved.
In a financial fairy tale that rivals anything penned by the Brothers Grimm, Ngern Tid Lor Public Company Limited (“NTL”) has also been upgraded—from an “A” to an “A+/Stable” rating. This credit boost acknowledges NTL’s stellar performance and sustained growth, a veritable growth spurt that puts awkward teenage years to shame. They’ve been under the solid influence of Bank of Ayudhya PLC, whose steadfast support acts as a sturdy trellis for these blooming businesses.
The year 2024 saw Tidlor Holdings scoring an all-time high net profit, bolstered by a cornucopia of income from their lending prowess and insurance brokerage muscle. It’s like hitting the jackpot twice—finding a penny on the street and winning the lottery on the same day. Meanwhile, their asset quality and risk management can be likened to an eagle’s vigilance, maintaining a keen eye on effective control of their NPL (Non-Performing Loan) ratio and keeping a healthy NPL coverage ratio.
Even when the economic skies were cloudy, casting shadows of uncertainty, Tidlor Holdings and NTL marched on, banners aloft, securing the coveted A+ rating. This rating is not just a badge of honor; it is a banner of trust. It indicates low risk and a strong capability for debt service, promising stable returns that investors dream of in their spreadsheets. The A+ badge affords these companies access to low-cost funding akin to a VIP pass at a swanky club, giving them better financing conditions than their lower-rated competitors. In fact, their A+ standing is the highest in their industry, dwarfing some small banks and even outshining the nation’s BBB+ rating as affirmed by S&P Global Ratings. Talk about punching above your weight!
But wait, there’s more. This credit rating upgrade serves as a significant milestone—like the first footprints on a freshly fallen snow—for Tidlor Holdings. Their valiant completion of a tender offer saw them charming shareholders into swapping shares at an exhilarating rate of 99.4% participation. Around the same time, NTL flexed its financial acumen by issuing 5,000 million baht in debentures aimed at institutional investors. The demand was staggering, with subscriptions surpassing the target by 3.6 times. In the first quarter of 2025, NTL boasted a new record high net profit of 1,218 million baht, a robust 10.3% increase year-over-year, leaving competitors eating their financial dust.
In the same quarter, NTL’s loan customer base swelled by 10% year-over-year, and their total loan portfolio grew by approximately 5%. This paints a picture of a company that expands its horizons without losing sight of keen, prudent loan approvals—a strategy that’s like planting seeds in fertile ground for a bountiful harvest. With a solid capital base serving as the bedrock, the company is poised to cultivate sustainable, long-term growth in their lending endeavors.
Mr. Piyasak Ukritnukun, the maestro pulling the strings as Managing Director, eloquently stated: “In this fragile and uncertain economic environment, investors are seeking partners who shine brightly among the financial nebulae. Our A+/Stable credit rating is a testament to the value we consistently deliver through operations driven by quality. We are firmly committed to prudent capital management, instilling confidence among our shareholders and employees alike. We are proud to be part of the Tidlor family, contributing towards expanding access to financial services, promoting insurance protection, and generating long-term value for our shareholders.”
For those eager to delve deeper into the details of their illustrious credit rating saga, a visit to www.trisrating.com is the ticket. And for investor relations and exciting updates, www.tidlorinvestor.com is just a click away.
I find it fascinating how a credit rating can influence a company’s overall image. An A+ rating seems like a prestige marker, but I wonder how sustainable it is in the volatile financial landscape?
It’s mostly about managing perception along with real performance. As long as Tidlor Holdings manages their risks well, they should maintain it.
True, but wouldn’t economic downturns pose significant risks? I mean, even the giants can falter.
Exactly, Sarah. It’s not just about what’s on paper; the economy can shift overnight and catch everyone off guard.
NTL’s strategy is impressive! Increasing your customer base by 10% year-over-year is no small feat. What are they doing right?
It’s probably a combination of smart marketing and competitive interest rates. Plus, their reputation now speaks for them.
Could be, but what about the risk of defaults increasing with more loans out there?
As long as they keep a stringent approval process, it should be fine. Low default rates = continued stability.
I think this credit rating uplift is all hype. The real test will be over the next few years if they can maintain it.
That’s true, but achieving it is still a commendable milestone. It shows potential to investors.
Potential is good, but actual delivery is better. Let’s see if they can turn this setup into long-term success.
I have to say, Tidlor Holdings seems to be capitalizing on their restructuring. It’s so important in this day and age.
Very true. A streamlined holding structure can lead to better financial maneuverability.
It’s great that Tidlor is leading the pack with their A+ rating! It proves smaller firms can compete with the big players.
Absolutely! But maintaining competitiveness is key. They have to continually innovate and adapt.
Right, innovation can make or break them. Let’s hope they continue on this upward trajectory.
I’m curious, how much does the backing by Bank of Ayudhya influence NTL’s rating? Can they stand on their own?
The backing definitely helps! It gives credibility and a sort of safety net. They might need that more than they let on.
I just don’t see how a company can manage such high levels of shareholder participation in tender offers.
It’s all about building trust and offering competitive returns. When shareholders see both, they’re more willing to participate.
Makes sense. I guess transparency and reliability play huge roles in getting everyone on board.
The real question is how the global economic environment will affect these ratings in the long run.
It’s definitely a concern. Global economic instability could mean trouble, regardless of current performance.
Honestly, the way they describe their achievements sounds like a fairy tale. A bit too picture perfect if you ask me.
Those subscription levels on the debentures are wild! It says a lot about investor confidence in NTL.
Long-term growth is crucial. But with such rapid expansion, can they maintain their standards of lending and risk assessment?
As long as they keep their eyes on loan quality and sustainable practices, they should be fine. It’s all about balance.
I’m considering investing in Tidlor. This A+ rating looks promising, but how do I ensure it’s a wise move?
Do your due diligence. It’s all about getting the complete picture, not just the highlights.
Definitely. I’ll be sure to look beyond the headlines. Thanks!