Message from Chairman of the Executive Board and Chief Executive Office

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Mrs. Kanoktip Chanpalangsri
Chairman of Executive Board

Mr. Pathompol Saosap
Chief Executive Officer and President

Over 30 years starting from the company establishment, Thai Polycons Public Company Limited has been determined to be a leading construction company in the country in line with its vision, “To be a leading construction company to provide services under international standards and corporate social responsibilities”. Except such construction business, the Company has also invested and developed several infrastructure projects from the government’s concession by being the shareholder of TPC Power Holding Public Company Limited, which operates the business of generating and sales of electricity produced from various types of renewable energy, especially biomass energy.

Thai Polycons Public Company Limited operates the business by adhering with the principles of corporate governance, integrity, and transparency. It intends to improve the personnel’s potential and construction technologies consistently to ensure that the Company’s performance shall be full of quality, and most satisfies every client; this will be the solid foundation for the Company’s sustainable growth under appropriate returns to the shareholders in the long run.

According to the operating performance of the Group of Companies in 2020, our sales grew up slightly under the economic recession while our gross profit market dropped, either in the construction business or energy business. For the construction business, the negative factor came from the severe competition in this industry. Meanwhile, the negative factor of the energy business came from higher fuel prices in years while 3 power plants already starting the commercial operation date have not yet reached their full production capacities. It is expected that those production capacities will be better in the beginning of Quarter 3/2021.

The trend of construction industry in 2021 depends on the construction investment by both government and private sectors. For the government sector, some works dealt with the development of infrastructure projects already awarded and waiting for bidding. For the private sector that was the key factor negatively affecting this industry in the previous year, if various conditions are improved, e.g. COVID-19 pandemic, vaccination plan, and government’s economic stimulus plan, until the economy can be moved forward tangibly, it is expected that the construction of the private sector after the slowdown of projects during the past 2 years will revive in the end of Quarter 2/2021.

In 2021, it is expected that the total revenues of the Group of Companies will be growing; most revenues come from the sales of electricity for the whole year by 9 power plants, and the sales for 10 months by 1 power plant. Meanwhile, the revenue recognition from the construction business can be growing slightly from the previous year. The gross profit margin of the construction business is likely to be better mainly due to higher proportion of revenues from the sales of electricity to the total revenues. For other related businesses that will support the Company’s construction business, it is on the negotiation process for business acquisition, which would be completed by Quarter 2/2021.

Under economic circumstances on last year and at present, together with many business factors changing rapidly, new technologies, and expectation from related persons to be responded by the Company, they all are the risks to be managed by the Company. The Company’s executives and staff will continue improving the potential, and adhering with the corporate governance in the business operation to offer appropriate returns to all stakeholders. We highly appreciate the Board of Directors, shareholders, and stakeholders to give strong support, and to make Thai Polycons grow up strongly.