Thai listed companies broke records by reeling in 6.21 trillion baht last year

Thai listed companies have orchestrated a financial coup, raking in an astronomical 6.21 trillion baht from their overseas ventures last year, smashing records and defying global economic odds.

The Stock Exchange of Thailand (SET) reports an eye-watering surge of 1.83 trillion baht from the previous year, making it a staggering 17-year high.

Amidst the chaos of the Russia-Ukraine war and the lingering pandemic aftershocks, these Thai corporate giants not only weathered the storm but emerged victorious, setting an unprecedented benchmark for overseas investments.

“Last year, the global economy danced on a tightrope, but Thai companies confidently shattered records, bagging an incredible 34% of their total revenue from foreign investments.”

In this financial saga, Vietnam emerges as the golden goose, pulling in the highest revenue among Southeast Asian nations, attracting a whopping 330 billion baht in the past 17 years.

Breaking down the numbers further, 287 out of the 810 companies listed on the SET and the Market for Alternative Investment (MAI) ventured into international territories, boasting a collective market capitalisation of 14 trillion baht—accounting for 66.5% of both markets.

Resource sector moguls lead the charge, clocking in 2.5 trillion baht in foreign revenue last year, a remarkable 59% surge propelled by soaring oil prices.

However, not every sector enjoyed a seamless ride. The consumer sector witnessed a 6.6% dip in revenue, grappling with economic headwinds.

Despite the global economic rollercoaster, Thai companies posted a 35.6% surge in revenue, hitting 18.6 trillion baht in 2022. Net profits took a 6.7% hit, attributed to soaring operating costs, notably for petrochemical, transport and logistics, and construction materials companies, according to the SET.

Asia excluding Southeast Asia emerged as the primary revenue hub, contributing 1.7 trillion baht to the Thai corporate juggernaut. Following closely were ASEAN nations, chipping in a hefty 1 trillion baht.

Vietnam stood tall as the regional investment champion, claiming a lion’s share at 31.8% of total revenue from ASEAN, leaving Singapore and Indonesia in its financial wake, reported Bangkok Post.

Not stopping at Southeast Asia, Thai companies spread their financial wings, directing investments of 26 billion baht and 9 billion baht into North America and East Asia, respectively.