MBK Group is engaged in shopping center business, hotel and tourism business, golf business, real estate business, food solution business, financial business, auction business and corporate supporting center.
| 2025 | 2024 | 2023 | 2022 |
|---|
| Revenues | 12,444.50 | 11,439.15 | 10,551.94 | 9,031.33 |
| Expenses | 9,272.97 | 9,186.15 | 8,919.32 | 7,629.75 |
| Net Profit (Loss) | 4,280.09 | 2,685.68 | 1,567.12 | 331.85 |
| Assets | 67,028.17 | 63,061.40 | 60,471.36 | 54,350.10 |
| Liabilities | 38,572.03 | 38,818.22 | 38,086.79 | 32,537.13 |
| Shareholders' Equity | 27,356.02 | 23,357.15 | 21,681.26 | 21,161.58 |
| Operating | 4,609.64 | 4,395.12 | 2,353.50 | 2,880.39 |
| Investing | -2,171.81 | -1,714.60 | -4,017.54 | -3,073.68 |
| Financing | -2,555.13 | -2,324.86 | 1,321.05 | -2,986.52 |
| EPS (Baht) | 2.66 | 1.75 | 1.04 | 0.23 |
| GP Margin (%) | 48.41 | 45.72 | 45.21 | 42.76 |
| NP Margin (%) | 34.97 | 23.83 | 15.42 | 4.20 |
| D/E Ratio (x) | 1.36 | 1.60 | 1.70 | 1.49 |
| ROE (%) | 16.88 | 11.93 | 7.32 | 1.59 |
| ROA (%) | 8.57 | 7.26 | 5.54 | 3.32 |
All 8 businesses of MBK Group shifted the strategies to brace for challenging situations and generate new business opportunities from changes in consumer behaviors and circumstances, considers the stakeholders and impact to the business value chain. The company realizes and emphasizes the sustainable growth by adopting its expertise and resources to consciously generate value to the organization and society simultaneously through continuous projects and activities. Examples are reduction of waste releases and alternative energy sources to lessen and prevent environmental issues and promote sustainability in all aspects.
MBK Group has established a policy for the sustainable development of MBK Group with operational guidelines to deliver good value to society and the environment under good corporate governance. It focuses on ethics and transparency to respond to the expectations and needs of all stakeholders to drive the business in line with the Sustainable Development Goals (SDGs).
• In August 2025, MBK Group received the "ESG DNA Project" certificate, emphasizing and encouraging its personnel to pass the fundamental standards of sustainability.
• In August 2025, MBK Group received the ESG100 Company certificate as an outstanding company in environmental, social, and governance (ESG) performance for 2025 from the Thai Institute of Directors (ThaiPat).
• In December 2025, MBK Group achieved an "Excellent" CGR score for the 10th consecutive year, reflecting its commitment to good corporate governance, from the Stock Exchange of Thailand.
• In December 2025, MBK Group received an assessment of good corporate governance in the ASEAN Asset Class PLCs category for 2024.
• In December 2025, MBK Group received the SET ESG Ratings 2025 at the "AAA" level from the Stock Exchange of Thailand, being selected as a sustainable stock for the second consecutive year.
The business operations of MBK Group are as follow:
1. Shopping Center Business : MBK Center, Paradise Park, Paradise Place , The Nine Rama 9 and The Nine Center Tiwanon.
2. Hotel and Tourism Business : Pathumwan Princess Hotel, Dusit Thani Krabi Beach Resort, Layana Resort and Spa, Tinidee Hotel Bangkok Golf Club, Tinidee Trendy Bangkok Khaosan, Tinidee Golf Resort Phuket, Tinidee Hideaway Tonsai Beach Krabi, Tinidee Trendy Bangkok Khaosan and fitness center by The Olympic Club.
3. Golf Business : Riverdale Golf Club, Bangkok Golf Club, The Red Mountain Golf Course, The Loch Palm Golf Course and Lam Luk Ka Golf and Country Club.
4. Real Estate Business : The Riverdale Residence, Park Riverdale, Quaritz, Quinn Sukhumvit 101 and the PANO projects in Phuket. and joint development of an international school.
5. Food Solution : Mah Boonkrong Rice, food court.
6. Finance Businesses : Motorcycle loan and property loan.
7. Action Business : Car and motorcycle auction business.
The Group had better operating results for the ended 31 Dec 2025 and 2024 operating revenue of 12,110 million bath and 11,278 million bath respectively. Revenue increased by 832 million or 7% from the same period of the previous year. operating profit for the years ending 31 Dec 2025 and 2024 amounted to 2,301 million bath and 1,556 million bath respectively increased 745 million bath or 47% from the same period of the previous year.
In May 2025, the Stock Exchange of Thailand removed the CF designation from PRG securities because it met all the requirements for distribution of shares to minority shareholders. In November 2025, a joint venture agreement was signed between TLS Plus Co., Ltd. and TTB Consumer Co., Ltd. to provide motorcycle hire purchase and leasing services. In December 2025, the golf business established Four Future Co., Ltd. to import and distribute golf carts, catering to market demand and expanding into domestic distribution for business sustainability. In December 2025, MBK signed a Memorandum of Understanding (MOU) for the development of an educational project with Invictus International School from Singapore in the Riverdale District.
MBK Group is aware of the importance of enterprise risk management. This is considered part of business management to ensure good corporate governance. In accordance with international standards COSO (The Committee of Sponsoring Organizations of the Treadway Commission) and in accordance with the organization's anti-corruption policy and measures, the Group of Companies has established an organization's risk management policy. So that all employees are informed and treated in the same way.
1. MBK Group's shopping malls and hotels received the Tourism Authority of Thailand's 2025 Standard certification from the Ministry of Tourism and Sports in June 2025.
2. Bangkok Golf Club was honored to host the "Singha Bangkok Open 2025" professional golf tournament in September 2025.
3. River Dale Golf Club was honored to host the Thailand Open 2025 in December 2025.
4. MBK won the HR Asia Best Companies to Work for in Asia 2025 award from HR Asia magazine in October 2025.
5. MBK received the "The Thailanders Leading Business Group with Strong Impact on Thai Economy & Tourism 2025" in Dec 2025.
| as of 30/12/25 | MBK | PROP | SET |
|---|---|---|---|
| P/E (X) | 9.26 | 12.87 | 15.44 |
| P/BV (X) | 1.29 | 0.74 | 1.19 |
| Dividend yield (%) | 5.41 | 5.14 | 3.71 |
| 30/12/25 | 30/12/24 | 28/12/23 | |
|---|---|---|---|
| Market Cap (MB) | 34,677.98 | 40,512.59 | 31,045.03 |
| Price (B/Share) | 17.50 | 20.50 | 15.80 |
| P/E (X) | 9.26 | 16.74 | 20.57 |
| P/BV (X) | 1.29 | 1.72 | 1.39 |
