STP & I Public Company Limited has operated its business for more than 44 years. Throughout the 17 years under my supervision, I and the management team have joined hands through many business cycles and there remains a significant mission to achieve which is to secure more projects for large steel structure fabrication whose demands are rising and we will continue to make it better.
Although in 2018 the Company has worked on 3-4 small scale export projects which was in line with the slowdown of global economy and the Oil & Gas industry since 2016, the Company believes that in 2019 the demands for Oil & Gas construction projects tend to improve. In addition, the Company has continuously participated in many biddings for steel structure, pipe and module fabrication and installation projects and should have more chances of winning, compared to the past few years. The Company also had opportunities to be awarded some steel structure works for domestic projects, including those in industrial works, public infrastructure and transportation systems, which have been promoted according to the policies of the government sector.
In addition, I also focus on maintaining financial stability and disciplines in assets management of the Company which are crucial for business sustainability and supporting of new business expansion. Amidst stagnant economic situation and low Oil & Gas construction demands during the past few years, our financial strength has enabled the management team and I to grasp new business opportunities in order to enhance Company’s capability in generating recurring incomes and profits while reducing risk from dependency on main business alone.
It is obvious that in the past few years the Company has diversified into more types of business, namely an investment in a municipal solid waste power plant in Phetchaburi Province, property and logistics business, and fuel distribution business through community automated gas stations. Revenues from such businesses have been partially recognized and are expected to increase substantially in 2019.
It is undeniable that I would not be able to complete those missions on my own, but I have got valuable advices and supports from the Board of Directors, management team, and all employees who have been tirelessly committed to developing both main and new businesses of the Company under the code of ethics and good corporate governance. On behalf of the Board of Directors, I would like to express my gratitude to all shareholders, customers, business partners, advisors and all relevant parties, including domestic and international financial institutes who always support operations of STP & I. I would also like to thanks all management and employees who have performed their duties with best efforts and always work hard for the growth and sustainability of the Company’s business for the utmost benefits of all concerned parties.