Company Background
Company Background
In 2024, there were no significant changes in the company’s control. Dr. Wattana Chaiwatana and the Chaiwatana family remained the major shareholders. The company closed seven dental clinic branches—six in the provinces and one in Bangkok—due to ongoing losses and no signs of recovery, aiming to improve long-term performance<br></p><p style="font-weight=600">Quarter 1 </p><li style="text-align:left;">The Mukdahan and Lampang branches were closed due to the expiration of lease agreements. </li><p style="font-weight=600">Quarter 2 </p><li style="text-align:left;">The Saphan Mai branch was closed in June.</li><p style="font-weight=600">Quarter 3 </p><li style="text-align:left;">The Chiang Mai branch was closed in September. However, the company continues to generate income from subleasing the premises to third parties for accommodation and convenience store businesses. </li><p style="font-weight=600">Quarter 4 </p><li style="text-align:left;">The company opened one additional dental clinic in the southern region — the Trang branch — in mid-November. </li><li style="text-align:left;">"The company considered closing down the Nakhon Ratchasima and Maha Sarakham branches in December. </li>
<p style="font-weight=600">Quarter 2 </p><li style="text-align:left;">The company signed lease agreements to expand branches in two provinces: Trang and Chumphon, in line with the strategy to extend leases at two high-potential branches: Rangsit and Ratchaphruek. </li><li style="text-align:left;">The company wrote off accumulated losses by transferring 1.3 million baht from legal reserves and 248.55 million baht from share premium, as approved at the AGM on April 21, 2023, resulting in accumulated profit from this quarter. </li><li style="text-align:left;">The company purchased land and buildings worth 93 million baht, paying 53 million baht in full with company funds and borrowing 40 million baht from a bank. The land was acquired to replace the former Chaengwattana branch. </li><p style="font-weight=600">Quarter 3</p><li style="text-align:left;">The company signed construction contracts for the Chaengwattana and Trang branches, with a total contract value of 23.26 million baht. </li>
The company continues to implement the LDC The Next Normal strategy (Cost Reduction and Elevation), with plans to stop the loss burden to prevent it from becoming a long-term liability. The details are as follows: <br><p style="font-weight=600">Quarter 1 </p><li style="text-align:left;">There was a change in the lease agreements for two branches, as the company negotiated a rent reduction, and the lessors agreed to lower the rent in line with the cost reduction plan. </li><p style="font-weight=600">Quarter 2 </p><li style="text-align:left;"> Lease agreements for three additional branches were changed, bringing the total to five. The rent reduction resulted in a one-time gain from lease amendments, recorded under other income in the profit and loss statement. </li><p>Quarter 4</p><li style="text-align:left;"> The appearance of the branches was upgraded to look more modern and appealing.</li><li style="text-align:left;">The four beauty clinic branches were temporarily closed, with operations continuing until December 30, 2022. </li>
