Message from the Chairman
Thailand’s Economic growth improved from 3.3% in 2016 to 3.9% in 2017. However not all sectors did well. Tourism grew almost 9% with the number of tourists reaching 35.48 million. Exports also increased by 5.5% as the world economy grew in synchronization. Consequently Thai baht appreciated by almost 10% against the US$, because of the widening current account surplus, and the increase in tourists income. Also the bond market continue to attract capital inflow. In US$ term exports grew by almost 10 %. Inflation rate decline to 0.7% per annum. Consumption by the private sector increased a little from 3.0% to 3.2% weighted down by almost no growth in rural spending. Agricultural sector started to recovered but became affected by drought and flood and later by the decline in commodity prices, especially rubber and palm oil. Government sector consumption growth was anemic. Private sector investment improved by just 1.5%, weighted down by decline in construction while government investment declined from the second quarter and ended the year with a negative rate of growth of 1.2%. The new procurement process to prevent corruption was a cause. The failure to anticipate the extensive infrastructure needs from natural economic growth was another. The World economy is expected to be better in 2018 and Thai economy should therefore also do better although a strong baht will create deflationary pressures. The concerns are
1. The government is slow in expanding its investment in public utilities to meet the needs in tourism expansion and export. For example, there are long ques for tourists to have their passports stamped. Some people have to wait more than one hour. Improving the system and process should not be difficult. At the same time there are signs of sporadic port congestion. These are bottle necks that will slow income growth.
2. This government set up many committees to transform pressing social and economic issues. It has also championed Thailand 4.0 for a better future. So far the results are not obvious. We have also not seen 4.0 applied to the government bureaucracies. The government need to set milestones.
3. Whether the government can implement the Eastern Economic Corridor initiative that cover three provinces, Chachoengsao, Chonburi and Rayong, and investment of about baht 1.5 trillion or about US$ 45 billion over a period of five years as planned. Still additional infrastructure investment will be beneficial.
Your company continues to focus on its core business of Document Storage, Warehouse Space Rental and Wharf Services. The company is committed to provide quality products and services to meet client’s needs. We are focused on improving customer satisfaction. In 2017, the company had added new customers to its customer base and added additional services.
In 2018, the company will add more shelves in the Document Storage Warehouse, invest on additional building, Document Scanning equipment and Digital Filing storage. There is also the project on Warehouse and Wharf improvement. For Quality improvement, the company has implemented Quality Management System ISO 9001: 2015 and ISO 27001 and to pursue new business opportunities for continuous growth.
(Mr.Chote Sophonpanich )