In 2018, the automotive parts manufacturing industry has risk factors that affect the major driving forces which are in the same direction as the global automotive industry including
technological changes, future risks and impacts from greenhouse gas emissions. This contributes to climate change in ecosystems and threats to living organisms’ health. The company is continuously aware of such importance and therefore, apply the uses of technology and innovation in business and society. This is to create value added for the business and create engagement with stakeholders throughout the value chain and to maintain a balance between economic growth and environmental protection. It is in accordance with the organization’s objectives in creating Eco Operation Excellence with the purpose of raising the standard of the automotive parts industry in Thailand in producing environmental friendly products and develop into low carbon business.
For responding to crucial sustainability material issues, as well as future challenges, the company has established a sustainable development strategy. The goal is to drive the business to the Eco Operation Excellence which consists of
- Sustainability Culture which focusing on business to be able to adapt to the context that is rapidly changing in terms of technology, economy, social and environment.
- Human Capital Development that focuses on the development of personnel by developing knowledge, skills, as well as building potential to become a significant capital that leads to sustainable growth of the company.
- IT for Corporate Sustainability by setting up a system and developing tools for data storage, use of resources that cover the entire organization, which could lead to the development of innovation and technology that increase operational efficiency and help support decision-making information for executives.
In addition, the company sees the importance of good corporate governance and the development of employees’ capability through cooperation projects with business alliances and partners, as well as, specialists and experts from educational institutions by preparing a skills development training courses to prepare and grow in the career path. Also, have a plan for succession in the position and build environment that encourages innovation and technology for continuous development. The company has also joined the Thai Private Sector Collective Action Network to combat corruption by reviewing the anti-corruption and business ethics policy. Furthermore, the company reviews policy and work structure for administration to ensure it is flexible in applying policies to employees at all levels in the company. The purpose is to create sustainable growth for the organization in both economic, and social and environment dimension to have a stable return with transparency that can be auditable, and build confidence among the stakeholders of the company both present and future’s groups.
During the previous year, the company’s revenue decreased 2.71% due to the decrease in export sales of 4.58%. This is mainly because of the credit control policy of the Middle East customers (GCC) to control the allowance for doubtful account since in there is 5% increase in VAT in those countries. The domestic sales increased by 16.27% since the company is trusted by automotive manufacturers such as Toyota, Isuzu, Mazda, and Mitsubishi from having complete production process.
The results of the commitment to operate the business by following international standards for global sustainability and 17 sustainable development goals of the United Nations, the company was selected by the Stock Exchange of Thailand to be listed on the Thailand Sustainability Investment (THSI) list for the second consecutive year. Also the Outstanding Sustainability Awards which are awards for listed companies for outstanding sustainability. In addition, the company received awards from the Prime Minister for the Best Exporter Award and the Best Thai Brand. Furthermore, the company was selected to participate in a project for promoting industrial factories in Thailand to assess water consumption throughout the product life cycle according to ISO 14046 (Water Footprint). What is more, the company is the first company in automotive parts industry that has received the Carbon Reduction Label certification (CFR) for plastic injection molding services, and carbon footprint labels (CFP) for plastic plating and painting services in Thailand.
Finally, I, as the Managing Director of the company, would like to thank all the management and all employees for their dedicated and hardworking, for driving the company to move strength and sustainably forward. Moreover, I would like to thank all shareholders, trade partners, financial institutions, as well as stakeholders who have trusted and always supports. Thanks also to our employees who have demonstrated commitment, perseverance, patience, and worked tirelessly together during this past year.
Chairman of the Executive Committee
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