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In 2022, the COVID-19 pandemic situations in many countries worldwide began to subside and the Thai government by the Ministry of Health relaxed the disease control measures and announced that COVID-19 would no longer be defined as a dangerous communicable disease but a communicable disease under surveillance instead because the number of COVID-19 patients with severe symptom and mortality rate globally tended to lower. The prevalence and severity of this disease in foreign countries also tended to decrease. In addition, the coverage level of COVID-19 vaccination received by the Thai people was rather high, so their immunity had increased, and the business sectors began to resume to operate business as usual. Nonetheless, the Company still faced fluctuation during the post COVID-19 era, such as global economic problems, war and domestic economic situations which were still experiences a time of stagnation. They were problems that cannot be avoided. However, the Company regarded that they were challenges in handling the global situations after the COVID-19 and they were also important opportunities for the Company to adjust the strategies and business plans to build stability and sustainable growth including confidence for all stakeholders.

2022 was a challenging year and an important opportunity for the Company to steadily develop and seek business opportunities. The Company could expand investments and develop many successful businesses, such as 1) Expansion of renewable business (biomass) to support for domestic demand of electricity which has tendency to increase continually and electricity can be supplied (Commercial Operation Date – COD) to the Provincial Electricity Authority (PEA) as planned; 2) Investment in biomass woodchip project to support for generation of electricity from renewable energy (biomass) and to supply to general public, and this business could also be operated as planned; 3) Expansion of works in renewable energy business group as the investor and the contractor for installation of solar rooftop to prepare readiness on building business opportunity in solar rooftop investment project in the form of a Private Power Purchase Agreement (PPA), which is now under construction and it is expected to be completed within middle of 2023; and 4) Focus on expansion to digital technology business by implementing technology to enhance efficiency and add value to the business to prepare readiness on firmly driving the organization to digital economic period.

Moreover, the Company also prepared the organization to make it ready for new business format in the future and the incoming challenges by improving work processes throughout the organization to reduce cost, increase efficiency and effectiveness by application of digital technology to better cover all processes of the works and to enhance potential of the employees by developing their knowledge, skills and expertise to make them ready to drive business pursuant to the strategic plans of the Company. Training courses have been provided, and the employees were encouraged to constantly attend the seminars, and at the same time, various activities have been arranged to take good care of livability and promote quality of life of the employees.

For operation direction in 2023, the Company will focus on building business growth together with the enhancement of efficiency and still maintaining the strict measures on controlling operating costs of the Company in all aspects. Business operation directions and strategies have been established to cover various dimensions by emphasizing on provision of good quality services and building maximum satisfaction to the customers as well as to explore new opportunities and alternatives for business expansion including to develop information technology system to raise service level of business and to boost the management efficiency within the organization.

Apart from continual development of business throughout 2022, the Company also placed importance on operation under the good corporate governance principles including the integration of corporate governance, risk management, internal control and compliance with the relevant laws and regulations, which were one of the corporate strategies pursuant to the environmental, social, and governance & economic or ESG. As a result, the Company was able to have excellent CG scoring or five stars from the 2022 Corporate Governance Report of Thai Listed Companies (CGR 2022) and received the 2022 Sustainability Disclosure Recognition for consecutive period of 3 years.

On behalf of the Board of Directors of Eastern Technical Engineering Public Company Limited and the Eastern Group, I would like to show appreciation to the shareholders, business alliance, trade partners and all customers for continued trust and strong support to the Company’s business operations. I also would like to express gratitude to all management teams and employees for their dedication in performing the work with the fullest effort. Please rest assured that the Company’s Board of Directors, management, and employees will determine to carry out missions with awareness and responsibility to keep the Company’s business operations sustainably achieving and prospering.


Dr. Pongsak Semson
Chairman of the Board of Directors
Eastern Technical Engineering Public Company Limited

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