The economic circumstances in 2021 continued slowing down due to a new wave of COVID-19 pandemic emerging since the end of 2020 and the wide spreading of COVID-19 Delta variant during the third quarter of 2021, which retrained several economic activities under the stringent pandemic control measures for months. Despite the remarkable progress of vaccination in the fourth quarter making the pandemic in the country to be declining while certain strict control measures have been gradually eased so that some economic activities could continue, the pandemic of a new virus strain, Omicron, at the end of last year, became the obstacle for economic recovery. As a result, the Thai economic overview in 2021 gained the slight growth as affected by the harsh slowdown in the previous year.
Such pandemic has caused the business interruption. The construction industry, in particular, has been affected in several aspects. To elaborate, the construction projects to be invested by the private sector have greatly shrunk; this made the general competition in this industry tougher than the past few years. Further, the serious control measures against the pandemic, conversely, pushed various construction activities as well as management of construction resources to confront the difficult situations under the very highly operating cost than usual. The above factors were the main reasons of the Company’s first business loss in years.
From the circumstances in 2022, this year seems another tough period for many business operators as a consequence of global economic condition, the worlds’ geo-political problems, oil price, inflation, foreign exchange, and technological disruption. These are the challenging factors arousing everyone to establish the good and adequate strategies to pass this critical time. Definitely, the Group of Thai Polycons Public Company Limited has continuously adjusted its business operation strategy to ensure that it can fight against any changes in business factors. The Company will make its best endeavor to make its operating performance gain the profit.
On behalf of the Board of Directors, Management, and employees of Thai Polycons Public Company Limited, I would like to extend my gratitude to all shareholders and stakeholders who have constantly given trust and support the Company. This deems the substantial moral support driving us to work so hard for the Company’s growth and prosperity and ultimate interest for all.