In 2022, the impacts of the COVID-19 outbreak had reduced in intensity; the Thai economy had begun to rebound; and likewise, the performance of Bangkok Expressway and Metro Public Company Limited or “BEM”, as the expressway and MRT service provider, has been improved since the third quarter of 2022. Following the improvement of the COVID-19 outbreak situation and the government’s announcement of the downgrade of COVID-19 from a dangerous communicable disease to communicable disease under surveillance, people started to resume their normal lives. As a result, both the volume of expressway users and the number of MRT passengers have been steadily rising. In addition, despite the fact BEM would be impacted by such situation, BEM remains committed to providing quality services in the travelling modes with convenience, rapidity and safety to the service users, while simultaneously striving for social and environmental responsibility. To that effect, BEM has actively cooperated with the government in response to its “Safety City Opening” policy by distributing one million alcohol spray cards to the MRT and expressway service users, including nearby schools and communities surrounding the service routes.
Due to BEM’s readiness and potential in the management of MRT operations, BEM was entrusted and selected by the government sector in 2022 to operate the MRT Orange Line Project, Bang Khun Non - Min Buri (Suwinthawong) Section. Then, BEM will enter into a Public - Private Partnership agreement for such project with the Mass Rapid Transit Authority of Thailand (MRTA) after the Cabinet’s resolution granting approval for MRTA to execute such agreement. In this regard, by investing in the MRT Orange Line Project, BEM will be equipped to enhance its continued operational capacity and broaden the network of mass rapid transit systems currently operated by BEM to serve more service areas.
In terms of financial management, BEM has consistently been successful in issuing and offering for sale sustainability debentures worth Baht 4,500 Million, with overwhelming demand among investors, reflecting the investors’ confidence in BEM’s business operations with its commitment to social and environmental responsibility. The objective of this sustainability debenture issuance is to re-finance debt and/or equity investment portion in the MRT Blue Line Project, a transportation business that uses clean energy, thereby contributing to reduction in carbon dioxide emissions generated by driving, while also facilitating people’s easy access to infrastructure transportation system, minimizing the environmental impact, as well as addressing the traffic problems on roads in the face of pollutant crises and climate change which are harmful to the world’s ecosystems.
BEM’s operations on the mission to help alleviate traffic problems to improve the quality of life of people based on good corporate governance and efficient risk management alongside social and environmental responsibility by realizing the development of the organization towards sustainability, have been instrumental in BEM’s achievements in that BEM has been successively rated as a listed company with the “Excellent CG Scoring” or Five Star in Corporate Governance; and BEM has been selected as one of listed companies on the “Thailand Sustainability Investment” (THSI) 2022 for the sixth consecutive year; moreover, BEM was awarded the ASEAN Asset Class PLCs from the assessment for corporate governance of listed companies in ASEAN (ASEAN CG Scorecard). Other than this, BEM has also been awarded the Thailand’s Top Corporate Brands 2022, as a company with the Thailand’s highest brand value in the transportation and logistics sector for the third consecutive year.
In respect of the operating results 2022, BEM has reflected the solid business fundamentals with a net profit of Baht 2,436 Million, an increase from the previous year by Baht 1,426 Million. The Board of Directors’ Meeting therefore resolved to propose the dividend payment for 2022 at the rate of Baht 0.12 each to be approved by the Shareholders’ Meeting.
On behalf of the Board of Directors, we would like to extend our gratitude to stakeholders of all sectors, including shareholders, service users both the expressway and MRT systems, counterparts, public and private agencies, together with all executives and staff, for being a key role in providing the great sustained support in BEM’s business operation. Thus, please rest assured that BEM still remains committed to operating the businesses with social and environmental responsibility in the pursuit of sustainable development in accordance with the principles of good corporate governance, while also striving to endlessly provide excellent and efficient services and improve the quality of life in travelling for the expressway users and the MRT passengers.
- Signature -
( Mr. Plew Trivisvavet )
Chairman of the Board of Directors
Corporate Social Responsibility
The Company, as the expressway and metro service provider, is committed to helping alleviate traffic problems in Bangkok and its surrounding provinces, through the fully-integrated mass rapid transit and transportation systems
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