MESSAGE FROM THE CHAIRMAN

         2024 was another year that the Company encountered continuous challenges from volatile and sensitive economic conditions from both domestic factors, such as political uncertainties, slowing consumption, reduction of private sectors investment as well as high interest rates and household debts, and external factors that had wide impacts globally. One of important factors was the strategic competition between China and the United States of America, ongoing or emerging war conditions in various regions that did not only affect the economies of the countries directly involved with the war, but also the global supply chain, energy prices, consumer goods prices, investments and global trade, including Thai economy because Thailand still has to depend on exports, foreign investment and tourism. If the global economy continues to slow down and uncertainties occur, it may result in a decrease in tourism demand which will affect Thailand’s tourism industry which has just recovered from the COVID-19 pandemic.  

         Amidst the uncertainties and challenges from various impacts that have occurred continually in 2024, the Company placed importance on increasing management agility to handle various situations in a timely manner under strict, prudent decision-making and financially disciplined. Such efforts include reviewing and prioritizing the investment appropriately; accelerating the expansion of core businesses that the Company has expertise; seeking opportunities to invest in new businesses as well as developing the foundation for digital technology by implementing new technologies to improve operation efficiency. The potential of personnel has also been developed continually by promoting new body of knowledge and skills to employees to respond to business operation strategic directions and to cope with changes in the future in a sustainable manner as well as to prepare readiness for future business expansion.
At the same time, the Company has restructured the organization of the Group to make them agitable and ready to move forward to be a leading company in the alternative energy business and a business that uses digital technology to support operations to meet the needs of the customers with sustainability, social and environmental responsibility, corporate governance and transparency. 

         Moreover, with regards to growth and business expansion strategies in 2024, the Company is still determined to drive business in accordance with the strategy to expand investment in the alternative energy business, as well as to develop new business operation model and keep on investment in new businesses built on existing businesses continually to make them conform to the growth direction sustainably. The Company has expanded its investments in the alternative energy business, such as, investment in solar power generation systems installed at base stations and telecommunication towers to save electricity costs and to sell electricity generated from power generation systems to True Move H Universal Communication Company Limited, and investment in ESCO Model projects, which are projects to provide energy management services of solar rooftop that applied private sector energy management company model with the government buildings on energy conservation or alternative energy, including investments in new businesses which are becoming a global trend and a future trend by participating in the mangrove planting project for benefit of carbon credit with objectives to take part in the country’s greenhouse gas emissions reduction project and for benefit of offsetting corporate greenhouse gas emissions.   

         For the growth and business expansion directions in 2025, the Company focuses on expanding investment in the alternative energy business by setting 3 approaches to drive the business as follows:  

 

1. Expand investment in solar power generation systems installed at base stations and telecommunication towers to save electricity costs for True Move H Universal Communication Company Limited and ESCO Model projects which are projects to provide all-inclusive energy management of solar rooftop system continually. 

2. Expand investment opportunity in “Clean Energy” business pursuant to the Power Development Plan (PDP). 

3. Aim for carbon credit market in afforestation projects (mangrove forests and terrestrial forests) to benefit from carbon credits and to drive the organization to grow sustainably by taking into consideration the environmental, social and governance factors and to lead to a low carbon society (Low Carbon Business).   

 

         In addition to operating business according to such corporate strategic plan, the Company has also focused on driving business for sustainability by strictly focusing on management under Environmental, Social and Governance or ESG principles. As a result, the Company received an Excellent CG Scoring rating or 5-star rating from the Corporate Governance Report for Thai Listed Companies in 2024 for the third consecutive year with an average score of 107%, an increase from an average score of 105% in 2023. The Company also received the 2023 Sustainability Disclosure Recognition Award, a reward granted to the organizations which disclosed information on sustainability for benefit of their stakeholders, from the Thaipat Institute for the fifth consecutive year. In addition, in 2024, the Company has also initiated the policy on preparing the Carbon Footprint for Organization (CFO) to assess greenhouse gas emissions from the operations and activities of the organization, as well as to use as a tool for calculating greenhouse gas emissions to formulate the management guidelines to reduce greenhouse gas emission effectively along with the preparation readiness of the employees to make them understand and able to report the amount of greenhouse gas emissions and absorption in the future. Those operations reflected that the Company placed importance and determination to elevate the corporate governance standards continually as well as demonstrated the intention to operate business by adhering to the principles of good corporate governance for sustainable development according to the principles of corporate governance along with business operation to ensure sustainable growth of the organization.   

 

         Lastly, on behalf of the Board of Directors of Eastern Technical Engineering Public Company Limited and the Eastern Group, I would like to thank our shareholders, business alliances, trade partners and all relevant parties from all sectors for their continued support and confidence in the Company's business operations. I would also like to thank the Board of Directors, the management team, and all employees for their dedication to performing their duties to the best of their abilities. Please be assured that the Company is still committed to dedication, careful and prudent management, adherence to principles of good governance and emphasis on the development of organization to create maximum benefits for shareholders and stakeholders in a sustainable manner. 

​
 

Dr. Pongsak Semson 

Chairman of the Board of Directors

Eastern Technical Engineering Public Company Limited