Minor International Management

Management criteria checks 4/4

Minor International's CEO is Dillip Dillipraj Rajakarier, appointed in Jan 2020, has a tenure of 5.75 years. directly owns 0.2% of the company’s shares, worth THB266.34M. The average tenure of the management team and the board of directors is 4.7 years and 8.5 years respectively.

Key information

Dillip Dillipraj Rajakarier

Chief executive officer

฿770.0k

Total compensation

CEO salary percentage	n/a
CEO tenure	5.8yrs
CEO ownership	0.2%
Management average tenure	4.7yrs
Board average tenure	8.5yrs

Recent management updates

Recent updates

Expansion Into Indonesia, Italy, And Australia Will Boost Future Performance

Feb 09 Strategic expansion into new markets and asset-light models are expected to drive substantial revenue growth without significant capital expenditure.

CEO

Dillip Dillipraj Rajakarier (60 yo)

5.8yrs

Tenure

฿770,000

Compensation

Mr. Emmanuel Jude Dillipraj Rajakarier, also known as Dillip, is an Executive Director and Chairman of Oaks Hotels & Resorts Limited. He has been Group Chief Executive Officer of Minor International Public...

Leadership Team

Name	Position	Tenure	Compensation	Ownership
Emmanuel Dillipraj Rajakarier	Group CEO	5.8yrs	฿770.00k	0.20% THB 266.3m
Chaiyapat Paitoon	CFO & Chief Strategy Officer	3.5yrs	no data	0.024% THB 31.1m
Kosin Chantikul	Chief Investment Officer	10.3yrs	no data	0.0055% THB 7.2m
Michael MacDonald	Chief Technology Officer	3.2yrs	no data	no data
Namida Artispong	Group Director - Investor Relations	no data	no data	no data
Stephen Chojnaki	Chief Commercial Officer & General Counsel	no data	no data	no data
Aurakanda Attavipach	Chief People Officer	3.6yrs	no data	no data
Torpong Muadchaiyaphum	Group Director of Internal Audit & Risk Management and Head of Internal Audit	no data	no data	no data
Chompan Kulnides	Chief Sustainability Officer	no data	no data	no data
Saranya Soontaros	Corporate Secretary	13.9yrs	no data	0.0046% THB 6.0m
Rawikan Inchaiwong	Vice President of Treasury	no data	no data	no data
Micah Tamthai	Acting CEO & COO of Minor Lifestyle	no data	no data	no data

4.7yrs

Average Tenure

52yo

Average Age

Experienced Management: MINT's management team is considered experienced (4.7 years average tenure).

Board Members

Name	Position	Tenure	Compensation	Ownership
Emmanuel Dillipraj Rajakarier	Group CEO	16.9yrs	฿770.00k	0.20% THB 266.3m
Charamporn Jotikasthira	Independent Director	8.5yrs	฿3.12m	no data
William Heinecke	Chairman	47.1yrs	฿430.00k	19.5% THB 25.4b
Michael Selby	Independent Director	3.4yrs	฿1.81m	no data
Suvabha Charoenying	Independent Director	9.8yrs	฿3.50m	0.00062% THB 808.5k
Niti Osathanugrah	Director	7.4yrs	฿2.34m	10.7% THB 14.0b
John Heinecke	Director	11.9yrs	฿2.37m	0.068% THB 89.0m
Camille Ma	Independent Director	5.3yrs	฿3.30m	no data
Chin Soh	Director	less than a year	no data	no data

8.5yrs

Average Tenure

64.5yo

Average Age

Experienced Board: MINT's board of directors are considered experienced (8.5 years average tenure).

Company Analysis and Financial Data Status

Data	Last Updated (UTC time)
Company Analysis	2025/10/05 02:50
End of Day Share Price	2025/10/03 00:00
Earnings	2025/06/30
Annual Earnings	2024/12/31

Data Sources

The data used in our company analysis is from S&P Global Market Intelligence LLC. The following data is used in our analysis model to generate this report. Data is normalised which can introduce a delay from the source being available.

Package	Data	Timeframe	Example US Source ^*
Company Financials	10 years	Income statement Cash flow statement Balance sheet	SEC Form 10-K SEC Form 10-Q
Analyst Consensus Estimates	+3 years	Forecast financials Analyst price targets	Analyst Research Reports Blue Matrix
Market Prices	30 years	Stock prices Dividends, Splits and Actions	ICE Market Data SEC Form S-1
Ownership	10 years	Top shareholders Insider trading	SEC Form 4 SEC Form 13D
Management	10 years	Leadership team Board of directors	SEC Form 10-K SEC Form DEF 14A
Key Developments	10 years	Company announcements	SEC Form 8-K

^* Example for US securities, for non-US equivalent regulatory forms and sources are used.

Unless specified all financial data is based on a yearly period but updated quarterly. This is known as Trailing Twelve Month (TTM) or Last Twelve Month (LTM) Data. Learn more.

Analysis Model and Snowflake

Details of the analysis model used to generate this report is available on our Github page, we also have guides on how to use our reports and tutorials on Youtube.

Learn about the world class team who designed and built the Simply Wall St analysis model.

Industry and Sector Metrics

Our industry and section metrics are calculated every 6 hours by Simply Wall St, details of our process are available on Github.

Analyst Sources

Minor International Public Company Limited is covered by 43 analysts. 16 of those analysts submitted the estimates of revenue or earnings used as inputs to our report. Analysts submissions are updated throughout the day.

Analyst	Institution
Nuanpun Noiruchchukorn	Asia Plus Securities Company Limited
Somkij Oranchatchawan	BNP Paribas Securities (Asia)
Charti Phrawphraikul	BofA Global Research

Minor International Management

Management criteria checks 4/4

Key information

Recent management updates

Minor International Public Company Limited, Annual General Meeting, Apr 29, 2025

Minor International Public Company Limited Announces Resignation of Thiraphong Chansiri as Director

Minor International Public Company Limited, Annual General Meeting, Apr 25, 2024

Less than half of directors are independent

Less than half of directors are independent

Recent updates

First half dividend increased to ฿0.30

Second quarter 2025 earnings: EPS and revenues miss analyst expectations

Now 20% undervalued after recent price drop

First quarter 2025 earnings: EPS and revenues miss analyst expectations

Upcoming dividend of ฿0.35 per share

Minor International Public Company Limited Approves Dividend for the Year 2024, Payable on May 23, 2025

Minor International Public Company Limited to Report Q1, 2025 Results on May 13, 2025

Minor International Public Company Limited Proposes Cash Dividend for the Operating Period from 1 January 2024 to 31 December 2024, Payable on 23 May 2025

Final dividend of ฿0.35 announced

Minor International Public Company Limited, Annual General Meeting, Apr 29, 2025

Full year 2024 earnings: EPS misses analyst expectations

Expansion Into Indonesia, Italy, And Australia Will Boost Future Performance

Third quarter 2024 earnings released: ฿0.06 loss per share (vs ฿0.31 profit in 3Q 2023)

First half dividend of ฿0.25 announced

Minor International Public Company Limited Announces Resignation of Thiraphong Chansiri as Director

Second quarter 2024 earnings released: EPS: ฿0.42 (vs ฿0.51 in 2Q 2023)

New minor risk - Dividend sustainability

Now 22% undervalued after recent price drop

Minor International Public Company Limited to Report Q2, 2024 Results on Aug 07, 2024

First quarter 2024 earnings released: EPS: ฿0.13 (vs ฿0.27 loss in 1Q 2023)

Upcoming dividend of ฿0.32 per share

Now 20% overvalued after recent price rise

Final dividend of ฿0.32 announced

Minor International Public Company Limited, Annual General Meeting, Apr 25, 2024

Full year 2023 earnings: Revenues exceed analysts expectations while EPS lags behind

Minor International Public Company Limited to Report Fiscal Year 2023 Results on Feb 08, 2024

Third quarter 2023 earnings: Revenues exceed analysts expectations while EPS lags behind

Minor International Public Company Limited Announces Interim Cash Dividend for the Period from 01 January 2023 to 30 June 2023, Payable on 15 September 2023

Second quarter 2023 earnings: Revenues exceed analysts expectations while EPS lags behind

First quarter 2023 earnings released: ฿0.27 loss per share (vs ฿0.80 loss in 1Q 2022)

Upcoming dividend of ฿0.25 per share at 0.8% yield

Full year 2022 earnings released: EPS: ฿0.54 (vs ฿2.83 loss in FY 2021)

Less than half of directors are independent

Third quarter 2022 earnings: EPS and revenues exceed analyst expectations

Now 20% undervalued after recent price drop

Now 21% undervalued after recent price drop

Second quarter 2022 earnings: Revenues exceed analysts expectations while EPS lags behind

First quarter 2022 earnings: EPS and revenues miss analyst expectations

Less than half of directors are independent

Full year 2021 earnings: EPS and revenues exceed analyst expectations

Third quarter 2021 earnings released: ฿0.16 loss per share (vs ฿1.20 loss in 3Q 2020)

Second quarter 2021 earnings released: ฿0.83 loss per share (vs ฿1.90 loss in 2Q 2020)

Consensus EPS estimates fall to -฿2.86

Consensus forecasts updated

First quarter 2021 earnings released: ฿1.47 loss per share (vs ฿0.46 loss in 1Q 2020)

Consensus EPS estimates fall to -฿2.65

Price target increased to ฿33.07

Price target raised to ฿29.76

Analysts lower EPS estimates to -฿1.49

Full year 2020 earnings released: ฿4.71 loss per share (vs ฿2.04 profit in FY 2019)

Earnings beat expectations, revenue disappoints

New 90-day high: ฿31.00

New 90-day high: ฿30.00

Price target raised to ฿26.12

New 90-day high: ฿28.00

Analysts lower EPS estimates to -฿3.16

Price target raised to ฿22.41

Third quarter 2020 earnings released: ฿1.21 loss per share

New 90-day high: ฿23.40

New 90-day low: ฿17.20

CEO

Leadership Team

Board Members

Company Analysis and Financial Data Status

Data Sources

Analysis Model and Snowflake

Industry and Sector Metrics

Analyst Sources