In 2015, the global economic situation remained volatile and fragile. Due to the economies of the US, EU and China continued to decelerate as a result of declining retail sales and industrial output, consecutive declining crude oil price and commodities in the global market and currency fluctuation, international trade was affected causing the decrease and gradual recovery in purchasing power of trading partners and consumer confidence. Thailand still confronted the problem of gradual decelerating export, commodity and agricultural product price recession, occurrence of severe drought and the high household debt caused the rate of economic growth to be up at only 2.8%.
However, I am very pleased that the company could overcome the circumstances and obstacles without trouble and make the satisfied profit. In the past one year, the company has done a good performance as a result of the growth of feed meal business. The increasing growth of soybean meal sale volume is in line with Thailand livestock industry situation that increases to meet domestic consumers’ need and export growth. For the vegetable oil situation, supply of palm increases causing palm oil price to be in a dramatic decline, but the company still maintains the market share of vegetable oil well. Moreover, in the past year the volume of “Healthy Chef” and “Queen” exported to neighboring countries such as Myanmar and Cambodia expanded the regional vegetable oil market according to the project of business expansion to ASEAN countries, especially in the CLMV. These factors influence the performance and profit very good that we are able to pay dividend out of profit to shareholders in high rate for another year.
One of our prides achievement is that the company won the “SET Awards : Best Performance” for 2015 as a listed company with the market capital between 10,000 - 30,000 million baht. This is the third time that the company has received the prize. The first two, the company received in 2011 and 2013.
In 2016, I have conviction that the company will be able to contribute growth with good returns because the livestock industry in Thailand tends to grow continuously, the market channels of vegetable oil is wider after becoming ASEAN Economic Community, and our experience in vegetable business for over four decades with the biggest production capacity in South East Asia. Therefore, the company can compete effectively with high standard and quality products, trusted by customers, need and make the company to be in the first rank of market share. Moreover, the company has a stable financial status, with good human resources and management system to possess a stronger potential to support the competition of being an expert in soybean oil industry. We also develop the internal control system and risk management in all areas by taking the best interest of shareholders as priority.
The company focuses on corporate governance and social and environmental responsibility. The company adheres and complies with the good corporate governance for the listed companies strictly. We have an efficient, transparent and accountable management system that promotes the sustainable growth of the company. Due to the vision of the company focusing on social and environmental responsibility, the company has a policy to produce high quality of products to make economic value with the production process that focuses on safety and environmentally friendliness and community development by getting involved and arranging activities to enhance the well-being of society and community as reported in the 2015 sustainability report.
On this occasion and behalf of the Board of Directors, I am thankful to benefactors of the company including shareholders, customers, financial institutions, business partners, government agencies, consumers, general public and media who have well supported by entrusting to the Board of Directors and company’s management all along. I also thank the management and employees who have devoted their spirit and effort, worked hard and developed work to achieve our goals. I wish you all happiness and prosperousness forever.
Chairman of the Board