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Message from Chief Executive Officer

Dear Shareholders,


The economy in 2023 is still in a worrisome. Thailand's GDP expanded from 2.6 percent in 2022 to only 1.8 percent in 2023, the main factor being the acceleration of interest rate increases by the US Federal Reserve. Impact from the Chinese economy and Japan's accommodative monetary policy causes the interest rates on loans in Thailand to increase accordingly to other currency and domestic factors. In the government sector, there is a delay in the budget for regular expenses and government investment budget both factors make the construction materials market not as lively as in the pre-COVID era..

For the company, the situation of the economic slowdown has affected the sales of the middle-low market, which is approximately 70 percent, has decreased. The company have tried to study and find ways to maintain this middle-low market segment by using both price strategies and strategies for reaching more aggressively but has not yet achieved satisfactory results.

The company has started to use the policy of sustainable growth to reduce the risk from the poison of the economy with 3 principles of work: developing the structure of the company, both outlets and products (Infrastructure Development), developing the skills of employees in the organization (Skills Development), and maintaining financial stability (Fiscal Stability). The company has started implementing all 3 topics since in 2023, such as launching new products which is porcelain tiles to compete in the middle-upper market, built new and improved 11 outlets, built air-conditioned showrooms, organizing internal training for employees at all levels, investing to reduce costs through clean energy or reviewing investment studies to maximize benefits, etc.


IThe executive team has carefully studied the information on sustainable growth policies. As a result, the company has a clearer working direction and goals for expanding the market and consistent with each other in every sector. This is to create revenue, improve efficiency and increase the potential for sustainable and stable profits for the benefit of all shareholders. We also would like to thank you all shareholders who have always supported the company's operations.



Yours Faithfully,


Mr. Maruth Saengsastra

Chief Executive Officer


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