The year 2024 has been a challenging one for businesses worldwide including our company, as we navigate complex and rapidly changing external factors. We continue to face multiple economic challenges, with geopolitical and global economic factors remaining key variables that impact various industries. Rising operational costs, persistently high interest rates, and delays in government investments have all directly affected the construction sector.the domestic economy is still in the recovery phase with tourism serving as a crucial driver. However the real estate sector and infrastructure development continue to face difficulties due to declining purchasing power and stringent credit control measures imposed by financial institutions. As a result some construction projects have been postponed or required financial restructuring.

Over the past year construction costs have continued to rise due to fluctuating material prices, including steel, cement, and energy key factors that have inevitably impacted the company project expenses. Additionally persistently high interest rates have further burdened businesse particularly long term investment projects that require substantial financial resources.

Company Strategic Approach

The company has implemented strict cost management measures and enhanced the efficiency of construction projects by carefully selecting suitable materials and utilizing digital IT technologies as tools for project management. This allows for accurate data collection and close monitoring of operations to minimize delays and maintain cost competitiveness.

This year the company remains focused on large scale government projects an area of expertise that aligns with the government infrastructure investment strategy. In the short term, we prioritize upcoming project bids, including road construction, water infrastructure and power plants. In the long term we plan to expand into regional infrastructure development, such as Special Economic Zones (AEC) and integrated transportation systems to create growth opportunities and ensure revenue stability for the company.

Enhancing Organizational Capabilities

The company places great importance on human resource development. The management team has been actively enhancing employees skills in technical expertise, technology and project management to align with current industry conditions. This ensures that our workforce is well equipped to adapt to industry changes and effectively drive the company continuous growth.

Commitment to Good Governance and Sustainable Business Practices

We remain committed to conducting our business under the principles of good corporate governance and social responsibility. The company has consistently maintained its certification under the Anti Corruption Initiative (CAC Certification) and upholds transparent governance practices that comply with international standards. Furthermore we continue to prioritize sustainable development in both environmental and social aspects. We are dedicated to implementing environmentally friendly construction practices such as reducing construction waste utilizing eco friendly materials and minimizing carbon emissions from our construction processes.

Towards Stable and Sustainable Growth

The company will operate with prudence and adjust its strategies as necessary to ensure stable and competitive growth as Chairman I would like to extend my sincere appreciation to our shareholders investors partners clients and all stakeholders for their continued support. The Board of Directors and management team remain committed to working with dedication, transparency and responsibility ensuring that the company generates value for shareholders and contributes to the sustainable economic development of the country.

Mr. Prasertphand Pipatanakul

Independent Director, Chairman, Member of the Audit Committee, Chairman of the Corporate Governance Committee, and Chairman of the Code of Conduct Committee