Messages from the Chairman of the Board of Directors

In 2023, the Thai economy expanded at 1.8 percent per year, slowing down from 2022 expansion of 2.6 percent per year, with an important factor being the contraction of industrial production, especially automobiles, computers and electronics. In addition, the value of merchandise exports for the whole year shrank by -1.5 percent per year, which is a result of slowing demand from the economies of Thailand’s trading partners.

For 2024, it is expected that the Thai economy will expand at an accelerated rate of 2.8 percent per year, with the volume of exports of goods and services expected to be able to expand and the tourism sector that will expand by 19.5 percent per year, with more tourists, mainly from China and Malaysia. This has a positive impact on the tourism business and related fields.

However, there are several important factors that will affect the Thai economy in 2024. The first is global geopolitical conflicts in various regions that may become more severe. The second is the situation of leadership elections in key trading partners such as the United States, Russia and India. Third is the volatility of the global financial market. And the final factor is China’s economic situation that may affect exports and the recovery of Thailand’s tourism sector.

QTC Energy Public Company Limited follows changes in the world economy and the Thai economy in order to cope with every situation. The company has adjusted sales strategies, improved production processes to reduce costs, and managed cash for liquidity. Moreover, the company has a development and research team to create new products to meet customer needs in all forms, including environmentally friendly products. The company never stops developing products while preserving the environment and playing a part in reducing global warming, which reflects our sustainable growth.

Moreover, the Company’s Board of Directors highly emphasizes on Good Corporate Governance as well. In 2023, the Company has obtained the score on Corporate Governance Assessment in excellent level for 9 consecutive years reflecting determination, concrete and definite operation on this matter. Moreover, the Company also aims to maintain standard and quality of Good Corporate Governance strongly and intensively.

The Company’s Board of Directors would like to express gratitude to all patrons, stakeholders, and related persons in Thailand and other countries for your consecutive support. The Company would like to ask you to believe that the Company’s Board of Directors would manage our Company to grow stably and sustainably.

Mr. Krirk-Krai  Jirapaet

Chairman, Board of Directors

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