In 2023, It was the great challenges of Asia Precision Public Company Limited (“the Company”) The Company has significant changes and development which the Company sell investment in ordinary shares of Asia Precision A.T. Co., Ltd. (“APAT”) that there is Automobile business, it is not core business.
The Company has adjusted the business structure and shareholder structure in 2 subsidiaries from A2 Technologies Co., Ltd. (“A2”) which is Asia Waste Energy Co., Ltd. (“AWE”) to support future expansion of the power plant business and A2 Water Management Co., Ltd. (“A2W”) to support water management business that focuses on the extension of the Company’s business operations in Engineering Procurement Construction (“EPC”) business, so the company is holding direct in AWE and A2W. However, the Company aims to continuously develop EPC business to become the core business. In the other hand, EPC business in 2023, they are not going to goal due to the war situation, it has affected the economic slowdown. The interest rate has been adjusted many times as a result, the currency exchange rate fluctuates and causes higher costs of product. Moreover, the company had many prices competition from competitors in the EPC market.
In the past year, the COVID-19 pandemic has continued and there is no definite end to the pandemic, but it has decreased damage and then there is a possibility of mutation. The Company predicts COVID-19 pandemic, it has not effective with the company’s business. Overall, Thai economy in slowdown period and the rapid changes in the Electric Vehicle (EV) industry, technological innovations, and the new digital society that they were challenges in adapting and developing the company’s potential, so it is one reason which is the company divest Automobile business in early year 2022. The company creates measures to prevent and solve emergency situations or potential risks that may occur both in the short term and the long term to be safe in a timely manner with the fluctuating economy or any other situation.
The Company and its subsidiaries have be aware of Environmental, Social, and Governance (ESG) with all stakeholders and still being committed to sustaining and maintaining which is to deliver the work and the highest quality service to customers so that the Company can be trusted and ready to be an organization with sustainable growth including The Company and its subsidiaries reviewed the personal data protection policy to be more consistent with the law and complete. The Company has strict compliance and regulations of public companies as well as having reviewed the Charter of the Board of Directors and sub-committees the corporate governance policy, the anti-corruption policy and communicate to directors, executives, and employees to strictly adhere.
Finally, on behalf of the Board of Directors, I would like to thank those involved and all stakeholders for trusting and believing in the Company and its subsidiaries throughout the past and thank you all executives and employees who are always committed and dedicated to working well. The Company sincerely hopes to receive such good support in the future to help develop and create sustainability for the Group Company which are under the consideration of all stakeholders and the principles of good corporate governance and then generate appropriate returns to shareholders. Wishing you all prosperity and good health in the year 2024
( Mr. Narong Varongkriengkrai )
Chairman
