"Unstoppable momentum: Rabbit Holdings generates profits reaching 1,331 million baht and ventures into the financial services business."
Bangkok, Thailand., 14 February 2023; Rabbit Holdings Public Company Limited (“Rabbit Holdings”) announced today, its operating results. In 2022, Rabbit Holdings profits grew by more than 924 percent from the previous year to 1,331 million baht. The Company’s life insurance business, rebranded as Rabbit Life, brought in more than 1,598 million baht in revenue, a meteoric growth of more than 602 percent compared to the previous year. Last year was indicative of a successful entry into the financial services business, which has yielded significant returns, restoring RABBIT-P shareholders’ confidence.
Ms. Soraya Satiangoset, Acting Chief Executive Officer of Rabbit Holdings Public Company Limited, revealed that “this year is the second year that, we have been able to return to profitability after the COVID-19 crisis, from the gradual sale of hotels and land worth more than 4,000 million baht in the past year, including the growth of our life insurance business”. She further added, “Based on this year’s progress, the Company remains committed to executing its real estate asset divestment goals, along with further investments in our financial services business, to create long-term growth for the Company in the future”.
Rabbit Holdings is the financial services and investment arm of BTS Group. The Company has already invested in life insurance (Rabbit Life) and other investments and aims to expand into other financial services businesses such as Nano Finance and Asset Management Company (AMC) in the future, as well as creating synergy with various companies within BTS Group and the partnership network under BTS Group's 3M strategy (MOVE, MIX and MATCH).
Furthermore, RABBIT-P holders will have the right to receive accumulated dividends in the amount of 1.10 baht per share, with the same voting rights as ordinary shareholders (RABBIT) of the Company. They are also able to exercise their rights to convert into RABBIT ordinary shares at a ratio of 1:1, quarterly, at no conversion costs, in accordance with the terms and conditions set by the Company. The first conversion was set for March 2023.