Message From Chairman
Year 2018, the world economy in the first half of the year expanded due to the support of the US economy through fiscal policy, including reducing tax ceiling and increasing government sector expenditure. But in the second half of the year, the growth rate of the economy tended to decrease as a result of the trade war between the United States and China that is expected to affect the supply chain and the slowdown in world trade volume. The trend of rising interest rates in many countries caused deflation, the slowdown in consumption. The mentioned unpredictable factors caused changes in trade and financial policies that affect exchange rates and capital movements.
For Thailand in the second half of 2018, the export situation started to slow down conforming to foreign countries’ demand. However, the tourism sector continued to expand well. The increase in private sector consumption as well as the government's investment in large-scale government projects, including the determination to expand investment in the Eastern Economic Corridor Project to attract private investment, allowed the Thai economy in the past year to remain stable.
In terms of business operations, the Company still got benefits from the investment in the Electricity Generating Authority of Thailand in the extension of the transmission system project- Phase 12, the project of re-enforcement the transmission line system in the South and the West of Thailand including the development of electrical systems in large cities of the Provincial Electricity Authority As a result, the Company had operating income of 4,151.36 million baht, net profit of 145.54 million baht. For the year 2019, the Company has established a sustainable growth strategy for the next 5 years with the main targets to have steady income growth with steady profits and with a return on business operations that are worth for investing. There are multi-sources of income from operating of various businesses in order to diversify risks and having high efficiency financial management. To conduct business and market coverage in neighboring countries (CLMV). To invest in renewable energy business and energy efficiency development. All shall be conducted with good management, good governance and risk management that is supervised by the Corporate Risk Management Committee in parallel with good corporate governance business ethics so that transparency and can be checked.
About corporate governance, the Company has adopted the Sufficiency Economy Philosophy of His Majesty King Bhumibol Adulyadej Bromnat Bophit to apply in various work processes to be on the principles of integrity, morality, promotion and development of personnel at all levels of the Company to work by adhering to good governance with responsibility to the economy, society and environment to achieve the sustainable growth of the organization. The Company is committed to anti-corruption by announcing the intention to become a part of Thai private sector coalition in anti-corruption (CAC) and to apply for a certificate extension (Recertification) in Q 4/2018, which the Company has developed communication policy, development of anti-corruption awareness among employees and executives as a tool to control the operation to increase efficiency.
On behalf of the Board of Directors and the employees, we wish to pledge to you that we will operate the business of the Company with integrity to customers, to be the profession with the determination for success, confiding to customers with quality service by the teams of highly skilled and highly efficient. To create value added works with optimized return for investors and shareholders continuously. Taking into account the best interests of stakeholders according to good corporate governance guidelines. Having a responsibility to society, environment, along with driving the growth of the Company stable and sustainable forever.
Mrs. Praphee Puipunthavong
Chairman of the Board