Star Money Public Company Limited

Star Money Public Company Limited, or STARM, a provider of retail lending and a distributor of electrical appliances and mobile phones under the Star Money brand, has announced a strategy to expand its hire-purchase loan portfolio and go fully online in the second half of this year, after purchasing power in the eastern region and the Eastern Economic Corridor, or EEC, began to recover. Chusak Wiwatwongkasem, Managing Director of STARM, disclosed that the company is studying opportunities for partnerships with allies to expand its hire-purchase loan portfolio, supported by the Board of Investment, or BOI, approving investment promotion for several large projects, some of which are located in the eastern region. The company plans to fully launch online services across both its e-commerce platform and LINE OA, while bringing a loan origination system, or LOS, and a loan management system, or LMS, into use across the entire organisation. As for its operating results in 2025, the company reported total revenue of 1.50794 billion baht and net profit of 84.82 million baht, a record high in three years, compared with 2024, when total revenue was 1.54506 billion baht and net profit was 50.58 million baht, and 2023, when total revenue was 1.37985 billion baht and net profit was 61.75 million baht. In the first quarter of 2026, total revenue was 359.64 million baht and net profit was 25.11 million baht.

Star Money Public Company Limited (STARM) has signed a memorandum of understanding (MOU) with Thailand Post Company Limited to expand sales and loan channels through Thailand Post's nationwide branch network and customer base, focusing on B2B, B2C, SME, and e-commerce customers through both online and offline channels. The collaboration will include loan application acceptance, installment payment collection, and the distribution of electrical appliances and IT products in potential post office branches. Mr. Choosak Wiwatwongkasem, Managing Director of STARM, stated that this partnership will help expand the customer base and drive continuous growth. Meanwhile, Mr. Danan Suphattharaphun, Chief Executive Officer and President of Thailand Post, said it will enable people and entrepreneurs to access financial services more conveniently, especially SMEs and e-commerce entrepreneurs.

Star Money Public Company Limited (STARM) has unveiled its operational plan for the second half of 2026, built around six key strategies. Mr. Choosak Vivatwongkasem, Managing Director, stated that the company will deploy AI to analyze customer behavior and leverage digital platforms to expand its customer base through partners such as Thailand Post. It will also adopt area-based management to enhance customer reach, focusing on B2C, B2B, and corporate employees in the eastern region through the Workplace project. Additionally, the company plans to introduce Lifestyle Solutions via a Shop-in-Shop model covering electric motorcycles, e-bikes, and tech products, as well as offer loans secured by electric vehicle title deeds. The company targets total revenue for 2026 to be no less than the previous year while maintaining prudent loan portfolio quality.

Mr. Chusak Wiwatwongkasem, Managing Director of Star Money Public Company Limited (STARM), revealed that in the second half of 2026, the company will focus on managing the quality of its loan portfolio to reduce non-performing loans (NPL) to below 4.55%, after the second quarter of 2026 saw NPLs drop to 3.1% from 4.9% at the end of the previous year. This will help lower credit costs and support continued profit growth, even though total revenue this year is expected to remain flat or increase slightly, as 85% of the portfolio is still in car title loans, an industry that has not yet recovered. However, profits this year are expected to be higher than last year's 84 million baht, driven by the expansion of the hire-purchase portfolio, which currently accounts for only 15%, and the launch of hire-purchase loans with Chinese electric motorcycle dealers in the eastern region, as well as increasing online channels and offering EV car title loans to build a new customer base. Meanwhile, the company will selectively extend loans based on customer risk, with high-risk customers required to make larger down payments, while low-risk customers may have smaller or no down payments, to manage risk and maintain the customer base.

Star Money Public Company Limited, or STARM, reported first-half 2026 net profit of 56.98 million baht, up 11.94% from 50.90 million baht in the same period last year, supported by higher air-conditioner sales amid hot weather and lower expected credit losses from a reduced debtor portfolio and slower high-risk lending. Total revenue was 741.59 million baht, down 7.50% year-on-year. Managing Director Chusak Wiwatwongkasem said the company will use artificial intelligence and digital systems to fully digitalise its lending services by 2028 through web services and a mobile application to support growth in digital customers.

Star Money Public Company Limited, or STARM, expects second-quarter 2026 performance to grow on sales of electrical appliances, especially air conditioners which benefited from extremely hot weather, while asset quality improved. For the second half, the company sees the economy as still fragile and K-shaped, so it is adopting a cautious policy and not focusing much on loan growth. As a result, full-year 2026 revenue is expected to be flat or up only slightly, but profit will grow better than the 84 million baht achieved in 2025, because the company has shifted to expanding its hire-purchase business portfolio, which currently accounts for only 15 percent compared with the main portfolio of car title loans at about 85 percent. The hire-purchase business has a gross profit margin of around 15 to 16 percent and shorter contract terms, allowing faster capital turnover and better profitability.

Star Money Public Company Limited, or STARM, is pressing ahead with transforming its business into a full-fledged digital lending platform. It plans to deploy a Loan Origination System and a Loan Management System in the second half of 2026 to speed up loan approvals and reduce operating costs. The company also aims to develop digital lending systems via web and mobile applications by 2028, and to bring in AI technology and automated approval systems to enhance credit assessment efficiency. The company expects this investment in digital infrastructure to drive revenue growth of at least 10% in 2026 and create a new S-curve for the business over the long term.