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Message from the Board
Message from the Board << Corporate Info << Investor Relations
 

Dr. Pisit Leeahtam
Chairman of the Board of Directors

In 2017, the result of high transformer business competition especially price war has still increased from 2016 which affected business performance of the Company and its subsidiaries in terms of the decrease in transformer revenue. Service revenue and contract-based revenue in 2017 increased from the ones in 2016, but cost of goods sold of those revenues increased which resulted in net loss in business performance in 2017.

For transformer industrial situation in 2018, its tendency has still been steady since 2017 because Thailand Power Development Plan (PDP 2015) determines that electrical productivity will be increased from 37,612 megawatt to 70,335 megawatt which the increase in electrical productivity comes from several types of domestic electrical power plants operated by both government sectors and private sectors. In addition to the PDP 2015 also determines to establish Transmission System Development Projects to Cope with the Growing Electricity Demand in Bangkok Metropolitan region and Special Economic Zones (SEZs) , Transmission System Expansion and Renovation Project, and Transmission System Development Power Purchase from IPPs, SPPs, and Power Plants from neighbor countries projects. Accordingly, both government and private sectors will increasingly build high voltage power plants and 500 kilowatt and 230 kilowatt transmission electrical cables including high voltage electrical tower project serving ASEAN Power GRID in upper North region and lower Southern region which results in 500/230/115kv power transformer demand which EGAT capital expenditure budget for period 2016 to 2020 for governmental high voltage tower project is approximately 10,000 million baht or average 2,500 million baht a year. However, amount of transformer entrepreneurs especially distribution transformer entrepreneurs has still been high which results in competition of transformer business industry has still been high. Due to the fact that the Company and its subsidiaries can run business to respond competition, economic situation, society, and environment, the Company and its subsidiaries are on process of strategic plan for 10 years which the plan has progressed over 75%. The rest is to do action plan to take strategic plan to operation for tangible results which results in the increase in ability to generate higher revenue and higher business performance than that of previous years.

Due to corporation, attention, and continuous development for business operation of the management and all employees, I believe that Tirathai Public Company Limited and its subsidiaries are potential companies which determines vision, mission, policies that are suitable and consistent with economic situation, society, and environment as well as strategic adaptation for changing situation and improvement for effective management and other procedure to manage controllable risks. Moreover, the Company and its subsidiaries pay attention to good governance for sustainable development and enhance confidence for all stakeholders.

Lastly, I on behalf of Board of Directors would like to express my sincere gratitude to all shareholders, customers, business partners for trust and support to Tirathai Public Company Limited and its subsidiaries. Also I would like to reveal my appreciation to the management and every employee who have coordinately worked and contributed to the Company and its subsidiaries. I believe that the management and all employees’ working experience and effective management potential as well as corporate governance will drive the sustainable growth of the Company and its subsidiaries and succeed in goals of the Company and its subsidiaries for shareholders’ interests onwards.

Dr. Pisit Leeahtam
Chairman of the Board of Directors