Mrs. Kanoktip Chanpalangsri
Chairman of Executive Board
Mr. Pathompol Saosap
Chief Executive Officer and President
Over the past 30 years since its establishment, Thai Polycons Public Company Limited (TPOLY) remains committed to be a leading construction company in Thailand, and has always followed its vision defined “To be a leading Thai construction company providing full range of services in line with international quality standards under corporate social responsibility”. Except the construction business, the Company is an investor and developer of infrastructure projects under the government concession, and the Company is also the majority shareholder of TPC Power Holding Public Company Limited, a company operating the business of electricity production and distribution from renewable energy, especially energy from biomass. TPC Power Holding Plc. deems a leading listed company on the Stock Exchange of Thailand.
Thai Polycons Plc. undertakes the business by adhering to the principles of good governance, integrity, and transparency. The Company, at all times, prioritizes the development of human resources and construction technologies to ensure that our service contains the full quality, and attains the maximum satisfaction for customers, which will be a solid path of our sustainable growth, and provokes satisfactory returns to our shareholders in the long term.
For the year 2019’s performance, the Company achieved its target. To elaborate, the Company had sales of construction for more than 3,700 million baht or an increase of 76%, reflecting a leap of growth from the previous year. At the end of the year 2019, the Company’s backlog was approximately 3,802 million baht, and the customers included both public and private sectors (30:70). About 20% of the Company’s projects were in Bangkok and vicinity while 80% of which were in upcountry. About 70% of the Company’s projects were the construction of high-rise, shopping mall, large office building, school building, and hospital building, etc. while the remaining 30% of works were the construction of power plant, utilities, etc. Over 80% of all projects were located in or along the development route of several mega projects and EEC.
For the overview of the construction industry in 2020, although it may be impacted by the global economic slowdown and various domestic factors until it may be impossible to forecast the overall Thai economic figures in this year resulted by many uncertainties, especially the epidemic of COVID-19 that no one can tell how long and how severe it will be, the construction industry may not receive the material effect, and it tends to grow in the next 2-3 years when it is driven by certain government construction projects, especially 44 mega projects initiated by the Ministry of Transport in the budget of nearly 2 trillion baht and the Eastern Economic Corridor Project. When the Annual Budget Expenditure Act, B.E. 2020 covering 3.2 trillion baht is enacted, the progress of each project will be more apparent, either those of which bid winners have been announced already, and those to be auctioned in this year for the value of several hundred billion baht. These will entail a number of public and private construction projects in the country.
In the year 2020, the Company expects the growth of sales from projects in hand (backlog) and other projects that the Company will bid. Normally, the Company targets a 10 percent of sales and backlog growth, which will be certainly met from the Company’s preliminary estimates.
Under economic circumstances in the previous year and now along with many business factors changing rapidly, as well as new technologies and an expectation of stakeholders to be necessarily fulfilled by the Company, all are the risks that the Company must handle. The Management Team and staffs of Thai Polycons are still determined to improve our potential, and to adhere to the principles of good corporate governance in order to make appropriate returns to all related parties. Thai Polycons greatly appreciates the excellent support from the Board of Directors, shareholders, and stakeholders who are the core backup and make us enjoy the sustainable growth at present.