The year 2017 saw Thailand’s economic growth at a better rate than estimated, with the contribution of the recovery in exportation, the tourism, and the government sector’s investments. Nevertheless, the Company still makes its progress to conduct business as seen from the joint executions in various types of construction projects awarded from both the private and government sectors. This is coupled with the support of our engineers team and employees who have plenty of knowledge, skills, expertise and a high potential to complete the complicated works; this results in an acceptance by project owners and the business allies from within and outside of the country as a leading costrction company in Thailand.
Thailand’s economy in 2017 has growth at the rate of 3.9 persent which is higher than last year which was only 3.2 percent. The growth rate was due to the impact of the increase in exportation, the tourism, as well as the investments from the government sector. For the construction industry, the growth rate decreased due to the less amount of work getting into the market. This results, in part, from the delay of the government’s bidding for infrasturture projects and from the not-so-high degree of recovery from the private sector. However, the construction industry will continue to grow to support the rushing investment operations from the government as well as the return of the private sector to the industrial and real estate segments.
The Company still strives “to be one of Thaniland’s top five largest general construction contractors with international standard, stability and sustainability together with responsibility to society and the environment”. Despite the struggle for turnover achievement, the Board of Directors is committed to create the growth of the organization continuously and the stability in long-term period, generate satisfactory return to shareholders, stakeholders and all related parties, and to build a positive impact on the overall ecomony of the country. The Board is also committed to conduct the business in accordance with the guidelines of sustainable development in terms of ecomony, society and environment under the good corporate governance principles. And this has earned the Company the upgrade to Corporate Governance Rating 4 Star in the previous year. The Board regularly oversees and monitors the Management to perform their duties with carefulness, prudence and responsibilities to all stakeholders as well as provides them from time to time with recommendation on management of surrounding factors which have challenged the business operation in order to miminize the risk to an acceptable level.
For the direction of the Company, the Company remains its operation in construction business, focusing on largescale projects of the Government and private sectors which suit the Company’s expertise. At the same time, the Company will continue to seek for works from the private sectors both in Thailand and in neighboring countries, namely Cambodia, Laos, Myanmar, and Vietnam (CLMV), which are enjoying their economic growth. Also, the Company has conducted the business of pre-cast concrete products manufactured with state-of-the-art technologies from Europe and is also expanding its manufacturing capacity to meet the increasing market demand in the Eeatern Economic Corridor which will be the hub for the country’s economic growth. For the real estate business, the Company’s strategy will focus on the demand in possible markets with a favorable growth rate. In 2018, the Company will make its paces in becoming an organization that has the potential at the international level to strengthen its foundation and prepare for the economic recovery and more intensive competition. In this, the Company shall improve its management in all aspects, by managing risks more efficiently and effectively, controlling construction and labor cost together with the quality of materials and equipment, enhancing the efficiency and effectiveness of work execution to acquire the quality and standard that meet the customers’ highest satisfaction while the Company can optimize the return on profits. Moreover, the Company shall develop its personnel in both technical and management aspects on a continuous basis including encouraging awareness of social and environmental responsibility, since they are valuable resources and key essential of sustainable growth.
The Board of Directors, the executives, the employees and the subsidiary companies of Nawarat Patanakarn Public Company Limited would like to show our gratitude to all shareholders, bondholders, business partners, customers, all related parties, public and society for your support and trust in the Company as always. We do hope that we will continue to receive such honor, trust and good support. Kindly believe that we will keep on our commitment and dedication to conduct business with prudence, caution, transparency and in compliance with the principles of good carporate governance and the framework of sustainable development for the utmost benefits of all parties concerned and for becoming an organization with stable and sustainable growth in Thailand as defined in the Company’s vision.
(Mr. Prasertphand Pipatanakul)