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MGC Overview
Company History and Key Events
Since its establishment in 2000 (2543 BE), MGC-Asia has been expanding its operations and experiencing continuous growth
- 2023
- 2022
- 2021
- 2020
- 2019
- 2018
- 2017
- 2016
- 2015
- 2014
- 2013
- 2012
- 2011
- 2010
- 2009
- 2008
- 2007
- 2006
- 2005
- 2004
- 2002
- 2001
- 2000
- 1999
2023
- MGC Aviation has been appointed as an official ticketing agent by Thai Airways International Public Company Limited ("Thai Airways"). As an authorized distributor, MGC Aviation is able to sell Thai Airways tickets to serve customers both within and outside the organization on international routes, as well as on codeshare flights within the Star Alliance network.
- MMS Company has been appointed as a provider of paint and body repairs for Tesla vehicles (operating under the name "Tesla Approved Body Shop") by Tesla Thailand.
2022
- SHA Company has opened a new Honda car dealership center in Bangna, KM 4.5. The new location has been given the branch name "Bangna" as it is a relocation from the Sukhumvit branch (the previous Bangna branch, which currently operates only as a showroom and service center and will end its lease agreement by the end of 2022). SHA Company is currently in negotiations with the property owner to extend the lease agreement and is also in talks with Honda Thailand to request an extension of the operational period for the former Bangna branch based on the new lease duration. Additionally, the previous Bangna branch will be renamed as the Sukhumvit branch. In total, SHA Company operates five Honda car dealership centers.
- USM Company has opened an additional branch for the distribution of Harley-Davidson motorcycles, located in Thonburi. With this new branch, USM now operates a total of three Harley-Davidson motorcycle dealership centers under their company. The new branch in Thonburi was opened in July 2022.
- MAG Company has opened an additional branch located in Pattanakarn-Srinakarin in September of 2022 for the distribution of BMW cars. Additionally, MAG is in the process of establishing a BMW and Mini dealership branch in Surat Thani within the second quarter of 2023. In total, MAG operates 10 BMW and 8 Mini dealership branches. Moreover, MAG has opened an additional branch for the distribution of used cars, specifically BMW, in Pattanakarn-Srinakarin in September 2022. They are also in the process of establishing a used car dealership branch in Surat Thani within the second quarter of 2023, offering a variety of brands (Multi-Brand).
- MGC Marine Company is currently in the process of establishing a full-service dealership center for Chris Craft riverboats at Riverdale Marina in Pathum Thani province, where it will be the first of its kind. It is expected to commence operations within the first quarter of 2023.
- The company has distributed a dividend payment of 150 million Baht to the shareholders, where they reinvested 100.0 million Baht back into the company. This led to an increase in the registered capital from the original 320 million Baht to 420 million Baht. This was achieved through the issuance of 1,000,000 ordinary shares with a par value of 100 Baht per share, offered to the existing shareholders in proportion to their shareholding.
- MGC Marine Company has increased its registered capital by an additional 175 million Baht, raising the registered capital from the original 50 million Baht to 225 million Baht. This was accomplished through the issuance of 1,750,000 ordinary shares with a par value of 100 Baht per share. Additionally, the company has reserved the right to purchase the newly issued ordinary shares in their entirety.
- MAG Company has increased its registered capital by an additional 100million Baht, raising the registered capital from the original 50 million Baht to 150 million Baht. This was accomplished through the issuance of 1,000,000 ordinary shares with a par value of 100 Baht per share. Furthermore, the company has reserved the right to purchase the newly issued ordinary shares in their entirety.
- SHA Company has increased its registered capital by an additional 28 million Baht, raising the registered capital from the original 90 million Baht to 118 million Baht. This was accomplished through the issuance of 123,200 new ordinary shares and 156,800 preferred shares, both with a par value of 100 Baht per share. In addition, the company has reserved the right to purchase the newly issued ordinary shares in their entirety.
- The company has increased its investment by purchasing additional shares in MMS Company from MMI Company, representing 45.4% ownership. As a result, the company holds direct shares in MMS Company and also holds shares through MAG Company, a subsidiary in which the company owns 99.9% of shares, representing ownership percentages of 86.6% and 9.1% respectively. In total, the company's combined ownership percentage amounts to 95.7%.
- To prepare for the registration as a company in the Stock Exchange of Thailand ("SET"), the company has taken the following actions:
- Registering the transformation from a limited company to a public limited company in accordance with Thai laws.
- Amending the par value of the company's shares from 100 Baht per share to 0.50 Baht per share.
- Registering an increase in the company's capital by an additional 140 million Baht, raising the registered capital from the original 420 million Baht to 560 million Baht. This will be achieved through the issuance of 280,000,000 ordinary shares with a par value of 0.50 Baht per share. Furthermore, additional amendments will be made to the articles of association to reflect the capital increase and accommodate the upcoming public offering of shares to the general public.
- The company has established a subsidiary company named MGC Aviation to engage in the searching of customers for the provision of private jet charter services, specifically for the VistaJet brand.
- At the board of directors' meeting (following the transformation into a public limited company) held on November 14, 2022, the 4th meeting of 2022, the following resolutions were passed regarding the subsidiary company's capital increase and dividend distribution:
- Approved the increase of registered capital in SHA Company by an additional amount of 7.0 million Baht, raising the registered capital from the original 118.0 million Baht to 125.0 million Baht. This will be achieved through the issuance of 35,700 new ordinary shares and 34,300 preferred shares, both with a par value of 100 Baht per share.
- Approved the increase of registered capital in MCR Company by an additional amount of 10.0 million Baht, raising the registered capital from the original 340.0 million Baht to 350.0 million Baht. This will be achieved through the issuance of 100,000 new ordinary shares, with a par value of 100 Baht per share.
- Approved the distribution of interim dividends to shareholders of the company in the amount of 60.0 million Baht.
- MGC Aviation has been accepted as a corporate customer by Thai Smile Airways Limited ("Thai Smile") through their online sales channel (Web Portal) to provide services to customers within the organization. This includes domestic routes within Thailand and countries in the Indo-China region, including Malaysia and India.
2021
- The company has undergone its second name change from "Master Group Corporation Asia Limited" to its current name "Millennium Group Corporation (Asia) Limited."
- MMI Limited ("MMI") has purchased additional shares in MMS Company, resulting in MMI directly holding 41.2% of the shares in MMS Company and holding 9.1% of the shares in MMS Company through its subsidiary, MAG Company (of which MMI holds 99.9% of the shares proportionately). In total, MMI holds a combined ownership of 50.3% in MMS Company. Additionally, MMI holds a 45.4% ownership in MMS Company.
- The company has undertaken an internal group reorganization by acquiring and selling shares among various companies within the MGC and Thamchuanviriya family group as follows (please refer to section 3.1.1 for additional details regarding the group reorganization in preparation for the upcoming share offering).)
- The company has included GW Company into the MGC group by acquiring shares in GW Company from MA Company, holding approximately 100% of the shares.
- The company has brought MGC Marine Company into the MGC group by acquiring shares in MGC Marine Company, holding approximately 100% of the shares, from the Thamchuanviriya family.
- The company has transferred MDN Company out of the MGC group by selling all of its shares in MDN Company to MA Company.
- The company has transferred BA Company out of the MGC group by selling all of its shares in BA Company to MA Company.
- The company has transferred LNA Company out of the MGC group by selling all of its shares in LNA Company to MA Company.
- MGC Marine has been appointed as the authorized importer, distributor, and service provider for Chris Craft riverboats in Thailand and ASEAN member countries.
- The company has partnered with Siam Commercial Bank (SCB) to establish Alpha X, a company that provides hire purchase, leasing, and vehicle refinancing services.
- Howden Maxi has partnered with Sabai Technology Company Limited to establish Sabuy Maxi, a company that provides sub-insurance services through a network of retailers and an online database system.
- The company has entered into a Referral Agreement as a partner with VistaJet Limited ("VJL") to facilitate the business of sourcing customers for private jet charter services to VJL. The agreement was signed on October 1, 2021. Additionally, the company has established MGC Aviation to engage in the aforementioned business starting from September 2022.
2020
- The company acquired shares of MMS in approximately 77.2% from the Thamchuanviriya family, resulting in MMS becoming a subsidiary of MGC. Subsequently, the company facilitated MAG's purchase of additional shares in MMS, resulting in the company and MAG holding shares in MMS in the proportions of 75.4% and 16.6% respectively.
2019
- The Rolls-Royce automobile manufacturing company has made changes to its import policy by appointing BMW Thailand as the importer of Rolls-Royce cars in Thailand, replacing Millionaire (a subsidiary of MGC at the time). As a result, the MGC Group established GW (a subsidiary of MGC) to accommodate the revised import policy. GW undertook the transfer of the Rolls-Royce dealership and after-sales service business from Millionaire to GW by amending the dealership agreement. Subsequently, GW's shares were sold in their entirety, approximately 100.0%, to MA in the same year.
- Company MCR has been certified with the international standard and quality management system certification ISO 9001:2015.
- The company has established a subsidiary named "Belfort Automobile (Thailand) Co., Ltd. (BA)" to engage in the importation of Peugeot automobiles.
- The company has established a subsidiary named "Gaydon Motor Sales and Services Co., Ltd. (GD)" to engage in the importation and dealership of Aston Martin automobiles, as well as provide after-sales services. Additionally, the company has sold 100.0% of GD's shares to MA in the same year.
- The company has established a subsidiary named "Lion Automobile Co., Ltd. (LNA)" to engage in the business of being a dealership for Peugeot automobiles and providing after-sales services.
- MGC Marine Company has opened another branch of Azimut yacht dealership at Boat Lagoon in Phuket province.
2018
- MAG Company has opened two additional branches for the distribution of BMW and Mini cars, as well as BMW Motorrad motorcycles. These branches are located at Icon Siam shopping mall and Hat Yai, adding to a total of 8 BMW and Mini car dealerships and 6 BMW Motorrad motorcycle dealerships under MAG Company.
- The merger between Maxi Insurance Brokers Co., Ltd. and Howden Insurance Brokers (Thailand) Co., Ltd. (which is a subsidiary of Howden Group Holdings, one of the world's largest independent insurance brokers) has been completed. This merger aims to expand the insurance brokerage business in Thailand under the name "Howden Maxi." As a result, Howden Maxi has transitioned from being a subsidiary to a joint venture company of MGC.
- The Thamchuanviriya family has established Maserati Motorwerk Co., Ltd. ("MDN") to operate the importation and distribution business, as well as provide after-sales services for Maserati automobiles. Additionally, they have allocated 100.0 percent of MDN's shares to the company within the same year.
- The company has sold all shares of MGC Marine to the Thamchuanviriya family.
- The company has purchased shares from the existing shareholders and additional shares of MCR, resulting in the company holding approximately 100.0 percent of the shares in MCR.
2017
- The company has increased its registered capital twice, totaling 160.0 million Baht, from the original registered capital of 160.0 million Baht to a new registered capital of 320.0 million Baht. This was achieved through the issuance of additional ordinary shares, and the family of Thamchuanviriya family, who were the original shareholders of the company, has subscribed to purchase all the newly issued ordinary shares.
- The Thamchuanviriya family has facilitated the transfer of the dealership business, including new cars, used cars, and after-sales services, for BMW and Mini vehicles from Company MA to Company MAG. This transfer involved a change in the contractual agreement as stipulated in the dealership appointment agreement. Additionally, it included the leasing or subleasing of assets such as the car dealership premises, related equipment, and land to Company MAG.
- Company MAG has opened an additional branch for the dealership of BMW and Mini vehicles in Phuket. With this new addition, the total number of BMW and Mini dealerships under Company MAG has reached six and five branches, respectively.
- Company MAG has expanded its business to include the dealership and after-sales service for BMW Motorrad motorcycles. They have opened four BMW Motorrad dealership branches located in Ladprao, Siam Paragon Department Store, Phuket, and Ubon Ratchathani.
- The Thamchuanviriya family has conducted the transfer of the dealership business for new and used Honda cars, as well as after-sales services, to the SHA Company through a change of contractual partners as stipulated in the dealership agreement. This includes the leasing or rental of assets such as car dealerships and land to the SHA Company.
- SHA Company has opened an additional branch for the Honda car dealership, located in Hat Yai. In total, SHA Company now has 5 branches for Honda car sales, including the new branch and 3 existing branches of SHA Company (Udomsuk, Bangna, and Huamak), as well as 1 existing branch of PHA Company (Phattanakarn).
- The company has established USM Company (a subsidiary of MGC) to operate as a distributor and provide after-sales services for Harley-Davidson motorcycles. USM Company has opened 2 Harley-Davidson motorcycle dealerships, located in Ubon Ratchathani and Hat Yai.
- The company has acquired a stake of approximately 30.0% in ASE Company from the Thamchuanviriya family, resulting in ASE Company becoming a joint venture of MGC.
- The company has purchased shares from the existing shareholders and through additional capital injection in MCR Company, resulting in the company holding approximately 62.7% of the shares in MCR Company.
2016
- The company has increased its registered capital three times, totaling 110.0 million Baht, from the original registered capital of 50.0 million Baht, resulting in a new registered capital of 160.0 million Baht. This increase was achieved through the issuance of additional common shares and the reservation of shares by the existing shareholders, including the Thamchuanviriya family, who are the original shareholders of the company, to subscribe for the newly issued shares.
2015
- Company MA has opened an additional branch for the distribution of BMW and Mini cars, located in Ubon Ratchathani. This brings the total number of BMW and Mini distribution centers under company MA to four branches.
- MGC Marine has opened its first branch for the distribution of Azimut yachts at Ocean Marina Yacht Club in Pattaya, Chonburi province.
- The company has acquired 100.0% of the shares of SHA from the existing shareholders, resulting in SHA becoming a subsidiary of MGC.
2014
- The company has established MGC Marine to engage in the business of importing, distributing, and providing repair services for Azimut yachts.
- The company has purchased shares from existing shareholders and additional shares of MCR, resulting in the company holding a 40.3% stake in MCR.
2013
- Millionaire Company has opened an additional branch at Siam Paragon Department Store to expand its Rolls-Royce car dealership network. With this new branch, the total number of Rolls-Royce car dealerships under Millionaire Company reaches two branches.
- PHA Company has been appointed as an authorized dealer of Honda automobiles by Honda Thailand. In line with this, PHA Company has opened its first Honda car dealership at Phatthanakan Road.
- The company has purchased shares from the existing shareholders and increased its capital investment in MCR Company, resulting in the company now holding a 38.1% stake in MCR Company.
2012
- The Thamchuanviriya family has established Millionaire Auto Sales and Service (Thailand) Co., Ltd. ("Millionaire") to engage in the importation, distribution, and after-sales service of Rolls-Royce automobiles. Millionaire has been officially appointed as the sole importer and distributor of Rolls-Royce cars in Thailand. They have also opened the first Rolls-Royce showroom at Rama 3, operating under the name "Rolls Royce Motor Cars Bangkok Service Center."
- MA Company has opened an additional branch of BMW car dealership at Rama 3, bringing the total number of BMW car dealerships under MA Company to three branches.
2011
- The company has undergone its first name change, from "VRT Enterprise Limited" to "Master Group Corporation (Asia) Limited." Additionally, the company has increased its registered capital by 48.0 million baht, bringing the total registered capital to 50.0 million baht. This increase was achieved through the issuance of ordinary shares and the commitment of additional capital from the Thamchuanviriya Group, the existing shareholder of the company, who reserved the right to purchase the additional shares.
- The Thamchuanviriya family has established PHA Development Honda Automobile Co., Ltd. ("PHA") to engage in the business of new car dealership, used car sales, and after-sales services for Honda vehicles.
- MCR Company has entered into a franchise agreement with Sixt SE, a leading car rental company in Germany and Europe, under the brand Sixt Rent a Car, to expand its short-term car rental business in Thailand.
- The company has established a subsidiary named i24 (a subsidiary of MGC) to provide information technology support services, training and development for personnel, and marketing management services.
- MCR Company has purchased 100.0% of the shares of MDS Company from the Thamchuanviriya family, resulting in MDS Company becoming a subsidiary of MCR.
2010
- The company has acquired additional shares in MCR, resulting in the company holding a 36.6% stake in MCR.
2009
- The company has jointly established Maxi Insurance Brokers Co., Ltd. (Maxi), a subsidiary of MGC, to provide insurance brokerage services.
2008
- The company started investing in MCR with a shareholding percentage of 31.6% as of the end of 2008.
2007
- The Thamchuanviriya family established MDS Company (a subsidiary of MGC) through shareholding by MCR Company, with the purpose of providing services and sourcing drivers.
- MA Company opens an additional branch for the distribution of Mini brand cars, located in Ekamai. This brings the total number of Mini car distribution centers under MA Company to 3 branches.
2006
- The Thamchuanviriya family collaborates to establish ASE Company (a joint venture of MGC) to provide car cleaning and coating services.
- MA Company opens an additional branch at Siam Paragon department store, expanding its BMW and Mini car dealership. This brings the total number of BMW and Mini dealerships under MA Company to 2 branches per brand.
2005
- MCR Company expands its business to provide short-term car rental services (daily or monthly) and limousine services.
2004
- MAG Company has started operating a used car dealership business for brands other than BMW and Mini, under the brand name "Master Certified Used Car."
2002
- MAG Company has opened its first BMW dealership branch at Ladprao.
- The Thamchuanviriya family has established MCR Company (a subsidiary of MGC) to initiate long-term car rental services.
2001
- The company MGC established the subsidiary company MAG, initially named "Millennium Auto Ladprao Limited". Later, in the year 2016, the name was changed to the current name "Millennium Auto Group Limited" to conduct the business of being an authorized dealer of new and used cars, as well as providing after-sales services for BMW and Mini cars.
- The Thamchuanviriya family established the company MMS, a subsidiary of MGC. It was initially named "VR Motorsport Limited". Later, in the year 2008, the name was changed to the current name "Master Motor Services (Thailand) Limited" to operate as a comprehensive independent car maintenance and repair center, as well as to distribute automotive parts.
2000
- Company MA opens its first branch of BMW and Mini car dealership at Rama 4.
1999
- The Thamchuanviriya family established the first company (1) to operate a comprehensive business in the automotive industry with a registered capital of 2.0 million Baht. Initially, it was named "VR Enterprises Limited". Then, in the year 2011, the name was changed to "Master Group Corporation (Asia) Limited", and in 2024, it was changed to the current name "Millennium Group Corporation (Asia) Limited".
- The Thamchuanviriya family established the company "Millennium Auto Limited" (MA) to engage in the business of being a dealership for new and used cars, as well as providing after-sales services for BMW and Mini vehicles.
(1) At the time of its establishment, the shareholders of the company (MA) consisted of the Thamchuanviriya family, totaling 5 individuals, namely: 1. Mr. Viwat Thamchuanviriya, 2. Mrs. Rattana Thamchuanviriya, 3. Miss Sukolkarn Thamchuanviriya, 4. Miss Jerdnapang Thamchuanviriya, and 5. Mr. Sunhavut Thamchuanviriya, collectively holding 99.00% of the registered and paid-up capital. Additionally, there were two other shareholders, Miss Anchalee Thamchuanviriya and Mr. Charaj Nimgerdpon, who were not part of the Thamchuanviriya family and held 1.00% of the registered and paid-up capital. In the year 2008, Miss Anchalee Thamchuanviriya and Mr. Charaj Nimgerdpon sold all their shares to other shareholders within the Thamchuanviriya family, resulting in each of them (shareholders 1 to 5) holding an equal share of 20.00% each. Subsequently, in the year 2017, Mr. Wiwat Thamchuanviriya transferred all his shares to other shareholders within the Thamchuanviriya family, with Mrs. Rattana Thamchuanviriya holding 31.34% of the company's shares, and Miss Sukkakan Thamchuanviriya, Miss Jednapa Thamchuanviriya, and Sunhavut Thamchuanviriya each holding 22.89% of the shares. During the same year, the company increased its registered capital from 194.9 million Baht to 320.0 million Baht, resulting in Mrs. Rattana Thamchuanviriya holding 28.86% of the company's shares, and the other Thamchuanviriya family members holding a total of 23.71% of the shares each.