Page 243 - THAILAND PRIVILEGE ANNUAL REPORT 2025

Annual Report 2025

2. Approved in principle the organizational restructuring and manpower restructuring of Thailand Privilege
Card Co., Ltd., with the objective of ensuring that the organizational structure is appropriate to support the Company’s
future growth, enhance operational agility in response to changing circumstances, provide career path opportunities,
and prepare personnel for career advancement. The approved manpower framework for fiscal years 2025–2026
totals 329 positions.

7.4. At the Board of Directors Meeting No. 7/2025 held on 22 July 2025, the Board of Directors considered and
resolved to approve the Business Plan for the year 2026 of Thailand Privilege Card Co., Ltd., with revenue targets
and total expenditure budget as follows:
1. Approved the operational plans under the Business Plan for the year 2026 of Thailand Privilege Card
Co., Ltd. as proposed.
2. Approved the estimated revenue for fiscal year 2026 in the total amount of THB 3,380.00 million,
comprising:
2.1. Revenue from membership sales: THB 3,000.00 million
2.2. Investment income: THB 350.00 million
2.3. Revenue from new business: THB 30.00 million
3. Approved the total annual expenditure budget framework for fiscal year 2026 in the amount of
THB 2,445.47 million (including committed budget from fiscal year 2025), as follows:
3.1 Annual operating expenditure budget for fiscal year 2026 in the amount of THB 2,350.60 million,
comprising:
1. Member service costs: THB 367.23 million
2. Selling and administrative expenses: THB 1,983.37 million
3.2 Annual investment expenditure budget for fiscal year 2026 in the amount of THB 12.87 million.
3.3 Additional annual investment expenditure budget for fiscal year 2026 in the amount of
THB 1.80 million.
3.4 Reserves in the amount of THB 21.50 million.
3.5 Committed budget from fiscal year 2025 (operating budget) to be disbursed in fiscal year 2026 in
the amount of THB 58.70 million.

7.5. At the Board of Directors Meeting No. 8/2025 held on 25 August 2025, the Board of Directors resolved to
approve the Performance Plan of the President for fiscal year 2026 (1 October 2025 to 30 September 2026).
As Thailand Privilege Card Co., Ltd. increased membership card prices by 50%–250%, together with the
introduction of additional privileges for card members, the Company experienced significant growth in membership
from 20,108 members in 2022 to 31,231 members in 2023 and 37,411 members in 2024. As a result, new membership
applications in 2025 grew more slowly than expected. The main causes were government policies relating to the
issuance of various visas to stimulate tourism, including visa facilitation measures such as the Long-Term Resident
Visa (LTR), Smart Visa, and the newly introduced Destination Thailand Visa (DTV) for foreigners wishing to travel in
Thailand while working remotely as digital nomads, as well as tax regulations applicable to foreigners residing in
Thailand for more than 180 days per year, effective from 1 January 2024. These factors resulted in a slowdown in
membership sales and renewals. The Company therefore implemented measures to expand its customer base,
enhance value, and improve member privileges to encourage membership applications, as well as to seek revenue
from new businesses.

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