In 2022, the overall economy in Thailand and all over the world has not recovered from the pandemic of COVID-19, which is likely to return to normal, but still faced with many risks, such as conflicting situations between Russia and Ukraine and high inflation, causing the central banks in many countries to use monetary policy "Announcement of Interest Rates Increase" to take care of inflation, including Thailand, causing the financial cost of the business sector to rise with positive factors at the end of the year, many countries began to gradually open up tourist and business activities including Thailand, allowing the domestic economy to begin to fully operate, including accepting foreign tourists, which is considered one of the country's main sources of income and the domestic economy began to improve.
Performance in the past year, the company still has to deal with the volatility situation that occurred and adjust to be able to run business with continuous profits, although profits for the year decreased from the previous year, which has been affected by the economic conditions both domestically and internationally which are extremely volatile, both the impact of COVID-19, the conflict situation between Russia and Ukraine, the delivery of raw materials from abroad had to be delayed from the schedule and steel prices rose sharply at the beginning of the year. It is the main raw material for the business and the fluctuation of exchange rates affects the cost of shipbuilding as well as rising interest rates and oil prices all affect the cost of ship repair.
However, the company is still committed to sustainable development, being prepared to deal with changes, conducting business prudently and constantly, adjusting strategies to suit the situation in order to increase competitiveness. The ship repair business has entered the government market more in order to earn extra income from private customers in which the market is highly competitive. As for shipbuilding this year, there are also projects to build medium-sized tug boats, HTMS Tachai of the Navy will be delivered in 2023 and continues to enter bids both domestically and internationally. The company is still looking for new business opportunities such as energy-saving business, study and development by introducing new technologies to develop shipbuilding to meet future market demands, such as Electric Vehicle (EV) powered by electricity instead of oil to become a market leader in this field.
In all situations and impacts, the Company still operates under the concept of Sustainable Development by integrating such guidelines as part of the operation to create a balance in the economy, society and the environment through good corporate governance, according to the principles of good governance to create a balance and sustainable value for all stakeholders.
Lastly, I, as the Chairman of the Board of Directors, the Board of Directors and the management team of the Company. I would like to thank all shareholders, business partners and stakeholders, as well as all executives and employees for their dedication throughout the year 2022 and please be confident that we will continue to build a business to grow steadily and sustainably.
Chairman of the Board of Directors
56-1 One Report & Annual Report
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Source: Thailand Securities Depository Co.,Ltd. As of 15/3/2022
Note: Total paid-up capital 258,291,087 share , Par 1 Baht
Foraging Limit : 25% of Share
Not less than 40% of its net profit of each fiscal year after reserving as required by laws and loss carried forward (if any) for dividend payment
(with additional conditions)
Board of Director
Mr. Prakit Pradipasen
Mrs. Warawan Nganthavee
Mr. Sribhumi Sukhanetr
Mr. Sutin Tanphaibul
Chairman and Independent Director Education - MBA Wayne State University, Detroit, USA - BBA Silliman University, Dumaguete, The Philippines
Independent Director, Audit Committee, Chairman of Nominating and Remuneration Committee Education - Honorary Degree in Mass Communication Thammasat University - National Defense College, Bangkok - Master Degree in Public Administration Ecole Nationale des Postes et Telecommunicatons, France - Faculte'de Droits,Paris
Managing Director and Executive Director Education - MBA Ohio University USA - BBA (Accounting)
Director and Executive Director Education - Mini MBA Thammasat University - BBA The East Philippines University - Diploma in Accounting Chulalongkorn University
Independent Director and Member of Audit Committee Education - MBA – Marketing, International business University of Wisconsin–Madison - Bachelor of Business Administration (Finance and Banking) Chulalongkorn University
Director and Nomination and Remuneration Committee Education College of Computer Science Northeastern University Graduate School of Management Boston University Department of Computer Engineering Chulalongkorn University
Director Education -BBA Accounting Assumption University -MBA GOLDEN GATE UNIVERSITY
Independent Director and Member of Audit Committee Education Master of Accounting-Financial Chulalongkorn University • Bachelor of Accounting Rajamangala University of Technology
Director and Executive Director Education - Doctor of Environmental Kasetsart University - MBA North Carolina University Wilmington - BBA Assumption University
Director and Excutive Director Education - MBA Harvard Business School, Boston, MA - Bachelor of Arts in Economics (major in international economics) Thammasat University
Managing Director and Excutive Director Education - MBA University of central Oklahoma USA - Bachelor Degree Faculty of Commerce and Accountancy Thammasat University
Mrs. Luckana Srisod
Mr. Nonn Panitvong
Mr. Win Panitvong
Mr. Suradej Tanphaibul