Sunhavut Thamchuanviriya, Group Chief Executive Officer of Millennium Group Corporation (Asia) Public Company Limited (SET: MGC), revealed that the company is targeting a 25% growth in total sales and services revenue from 2025, when total revenue was approximately THB 22 billion. This growth will be driven by expansion opportunities across all business segments, including: 1. Mobility Retail, which as of the end of 2025 had a backorder of over 1,000 vehicles; 2. Aftersales Service & Spare Parts; 3. Car Rental & Chauffeur Services; and 4. Financial & Other Services.
MGC will strengthen its position through partnerships and strategic alliances, with five key pillars: 1. Strong Automotive Brand Alliances; 2. Technology & AI Alliances; 3. Robust Financial & Investment Alliances; 4. Lifestyle & Ecosystem Partnerships; and 5. Regional Strategic Alliances.
The company forecasts that the share of electric vehicle (EV) sales in 2026 will increase significantly, reaching a new high. In 2025, the EV sales proportion was already at 35%, supported by uncontrollable external factors such as the ongoing war in the Middle East that has driven up oil prices, causing consumer uncertainty and concern over travel costs—a key turning point set to further boost EV acceptance. MGC already markets leading EV brands such as BMW, XPENG, and ZEEKR, recognized for their innovative design that meets customer expectations.
For Geopolitical Impact & Risk Management, the company will increase the proportion of electric vehicles to reduce reliance on internal combustion engine (ICE) vehicles with high fuel consumption, while maintaining liquidity to withstand prolonged volatility and proactively manage currency and financial risks. The company will also realign its portfolio in accordance with long-term energy transition trends.
MGC expects that in 2026, EV supply may not meet demand due to a clear surge in requirements, as reflected by 1Q26 results: EV sales grew over 35% between January and February, and are expected to continue increasing throughout the year, supported by mature, recognized EV technology, solid aftersales service, and comprehensive coverage. MGC’s portfolio includes XPENG, well suited for the market, with three new models set for launch in 2026 to stimulate growth, and ZEEKR, a premium brand meeting consumer needs with advanced EV technology.
Currently, MGC-ASIA operates a network of showrooms and service centers representing 20 brands in Thailand and is expanding regionally. The company manages SIXT branches at 2 locations in Laos and 8 in Malaysia, totaling 130 branches with over 290,000 square meters of space. It operates 44 aftersales service locations nationwide with 331 repair bays and 324 technicians certified by manufacturers, including those qualified in EV maintenance, all under strategic alliances that support operational expansion, serving a customer base of more than 700,000.
Additionally, the company has set a strategic plan towards 2030 (MGC-ASIA 2030 ROADMAP) through: 1. Core Growth, focusing on expanding the EV portfolio, widening the national network, enhancing aftersales service excellence, advancing technology and artificial intelligence (AI) innovation, developing new business models, and forging strategic partnerships; and 2. Trust / Foundation, focusing on value-added programs, establishing a membership and privileges platform, providing rights and growth opportunities, operating according to ESG (Environmental, Social, Governance) principles, and developing personnel through training. All these reflect a transition from a traditional automotive retailer to a technology and innovation-driven organization.
Regarding the recent share buyback program for financial management, MGC is deciding whether to allocate shares in the form of capital reduction or potentially sell in the market to increase free float or offer to investors who recognized MGC’s business direction or to company partners. If the MGC share price does not reflect its intrinsic value, sustained strong performance and returns may potentially draw institutional and long-term investors back to MGC.
