TH

Message From Chairman

Mrs. Praphee Puipunthavong

Chairman of the Board

For the overview of Thai economy in 2019, it was expanded by 2.4 percent, compared to 4.2 percent in 2018 with the value of Exports decreasing by 3.2 percent while the private sector consumption and total investment expanded by 4.5 percent and 2.2 percent accordingly. An average inflation rate was at 0.7 percent and the current account surplus was at 6.8 percent of GDP.

DEMCO Public Company Limited commit to conduct business with continuous growth and sustainability in order to achieve the VISION of the organization which specified that "Aim to be a leading entrepreneur in Electrical Engineering, Energy and Public Utilities, both in the domestic and neighboring countries (CLMV) under good corporate governance principle with responsibility to all stakeholders, society and the environment”.

Year 2019 was a challenging year for DEMCO Public Company Limited as it was a year of much more increasing competitions in the substations and the state enterprises’ transmission lines construction groups, trade war between the United States of America and China, the links of Grid Modernization technology, Smart Grid, Smart Energy, as well as Community Power Plant projects as local economics infrastructure. The Company therefore have to review the 5-year Corporate Strategy Plan (2019 - 2023) in order to prepare an annual strategic plan to suit the current situation with the main target to have a steady income growth rate with continuously stable profits. We must have a lot of sources of income from business operations in order to diversify risks. There is a risk management that is highly efficiency. Resulting, in the previous year, the Company had operating income of 2,937.98 million baht, net profit of 34.96 million baht. For the year 2020, the Company has improved the operation plan more intensive. New technology systems are introduced, including continuous human resources development especially the knowledge of modern technology to enhance the work of the Company to be able to compete in both the domestic and international markets. Increasing the ability to maintain the existing customer base including expanding the customer base overseas with the Company's core businesses and also new businesses those are an opportunity to maximize profitability.

Lastly, on behalf of the Board of Directors, Executives and staff of DEMCO Public Company Limited, we would like to thank the shareholders, customers, business partners, financial institutions and all stakeholders who always have trusted and supported DEMCO Public Company Limited with good and kind manner. The Company pledges to operate the Company with honesty, transparency, determination with full intention for success, create added value and reasonable returns to investors and shareholders continuously with consideration of the highest benefits of the stakeholders in accordance with good corporate governance guidelines, responsibility to society, environment, along with driving the growth of the Company stably and sustainably.

Mrs. Praphee Puipunthavong

Chairman of the Board