In 2017, the overall Thai economy has improved.
The National Economic and Social Development
Board has forecast that Thailand’s economic growth
rate will reach 3.9 percent in 2017
To the Shareholders of Univentures Public Company Limited
In 2017, the overall Thai economy has improved. The National Economic and Social Development Board has forecast that Thailand’s economic growth rate will reach 3.9 percent in 2017, up from 3.2 percent a year earlier, thanks to supportive factors namely government spending, state investments, thriving tourism and growing exports. Thai economy has rebounded in line with the world’s economic recovery. Buoyed by the government’s economicstimulus measures, domestic consumption has also been increasing since 2016. While Thailand’s economic recovery has already begun, the country’s real estate sector has not yet fully recovered. Univentures Public Company Limited, as a result, has had to revise its business plans and marketing activities in a bid to release remaining products from its stock and tap into more target groups for the ultimate goal of generating maximum profits for the shareholders.
Due to the revision, appropriate business plans and marketing activities allowed Univentures Public Company Limited to earn 13,741.3 million baht from its business operations during the accounting period starting 1 January 2017 and ending 30 September 2017 (The Company has adjusted its accounting period in 2017). The revenue was up by 1,122.0 million baht or by nine percent from the same period last year. The group of real estate business for sale was the main contributor of revenue, generating 11,026.8 million baht or accounting for 80 percent of the Company’s total revenue. Zinc oxide business group, meanwhile, provided 1,161.3 million baht, accounting for eight percent of the Company’s total revenue. The Company’s total net profit from its business operations stood at 1,457.0 million baht, an increase of 162.3 million baht or 12 percent from the same period of the previous year.The value of backlog was approximately 4,651.1 million baht. Of the amount, 4,054.3 million baht was from low-rise projects while 596.8 million baht came from condominium projects. Revenue recognition from this backlog will start the following year. The Company has always accorded much importance to good corporate governance principles out of a firm belief that it benefits business operations, adds value, increases returns on investments for shareholders in the long run, and also boost confidence of shareholders, investors and all stakeholders. In 2017, the Thai Institute of Directors (IOD) has ranked the Company as “excellent” in terms of good corporate governance. This highest level of recognition has been granted to the Company for two consecutive years now. On top of this, the Thai Investors Association has given the Company 100 out of the possible 100 points for its “outstanding” quality of the organization of the general meeting in 2017. The Company has proven “outstanding” in all criteria used to assess the quality of general meetings since 2011 or for seven years in a row. At the Board’s meeting No. 4/2017 on 14 September 2017, the secretary of the Company briefed the Board of Directors on the Corporate Governance Code for listed companies 2017 (CG Code) issued by the Securities and Exchange Commission (SEC) to replace the old principles that were introduced in 2012.
The Board of Directors, after acknowledging the role, benefits, and guideline of the new CG Code, seeks to apply the new CG Code for ensuring good operating results in the long run, and upholding reliability in the eyes of shareholders and people to achieve sustainable value for the Company. The Board of Directors has already assigned the Corporate Good Governance Committee to provide planning, support, and advice to the Management in regards to the Company’s plan to join the Private Sector Collective Action Coalition against Corruption (CAC).
Being socially responsible, the Company has issued a policy to promote the sense of responsibility towards communities and the society among its staff at all levels in a bid to encourage them to extend extensive support through activities that are useful to neighboring communities. In addition, they are required to comply with Occupational Safety and Health Standards as non-compliance may cause casualties or property damages in the communities. Moreover, the Company has raised awareness among its employees of efficient use of existing resources. In 2017, the Board of Directors, the Management and the staff of the Company have conducted several activities and projects in support of community development to contribute towards the society. Details on these activities and projects are available in the Annual Report under the subject of “Social Responsibility”. On behalf of the Board of Directors of Univentures Public Company Limited, I would like to take this opportunity to express my appreciation to the Management and all staff for their hard work during the past year. Thanks to their dedication, the Company has achieved satisfactory success that paves way for further and sustainable growth. Also, I would like to extend warm gratitude to customers, business partners and all shareholders for their trust and continued support for the Company and its subsidiaries. You can be rest assured that the Company shall fulfill its duties and conduct its business in line with good corporate governance principles for the Company’s prosperity and shareholders’ sustainable returns in all years to come.
(Miss Potjanee Thanavaranit)
Chairman of the Board