Messages from the Chairman of the Board of Directors
In 2020, Thailand encountered the crisis of the COVID-19 outbreak and this situation has been continuing to the year 2021. Thai economy in 2020 decreased by 6.1% with the decrease in the goods export value, the private consumption, and the total investment by 7.5%, 0.9%, and 3.2%, respectively.
Thai Economic tendency in 2021 is likely to expand in the range of 3.0-4.0%. However, the new wave of the COVID-19 outbreak in the early 2021 caused the impact on the economy. It is expected that, in the first half of the year 2021, Thai economy will expand in the range of 2.0-2.5%. There are supports from, 1. Improvement of domestic demand, 2 Economic recovery and global trade volume, 3. Driving forces from the public sector due to the disbursement under the budget framework and economic measures, and 4. Unusual low growth in expansion base in 2020. It is expected that the economic tendency will gradually improve in the second half of the year if the COVID-19 vaccines are effective and efficient which will start gradually being given to citizens in February, 2021.
The COVID-19 outbreak in 2020 caused the business sectors to adjust themselves to keep up with the current situation. QTC is one of the companies that can adapt itself to the situation due to the availability of systems and cooperation of personnel. As a result, the company was slightly affected by the COVID-19 outbreak. The company could generate profits in the amount of 157.42 million Baht in 2020.
Regarding the 2021 business plan, the Company has adjusted its internal and external strategic plans intensively and continuously in order to generate sales growth. The Company mainly focuses on the export, the increase in overseas sales agents, and the increase in a skilled sales team to penetrate new markets with purchasing power in foreign countries, while keeps maintaining the existing customer base and increase new domestic customer base by emphasizing on potential customers, adjustment of production processes to reduce production costs, adjustment of the debt collection strategy, including diversification to the energy business. The Company divided its businesses into the transformer business and the solar business, where the Company saw the opportunity of the solar business growth. The Company is the distributor of solar panels and inverters for leading brands. These are the basis of the strength and the growth of the Company.
In addition, the Board of Directors pays great attention to the good corporate governance. In 2020, the Company has obtained the excellent Corporate Governance Rating for six consecutive years, reflecting the attention to the importance of the corporate governance. The Company aims to improve and maintain the management standards under the framework of good corporate governance on a regular basis.
The Board of Directors would like to thank all domestic and international sponsors, stakeholders, and related persons who have always supported the Company and assure that the Board of Directors will perform the effective management and aim to supervise the Company for the steady and sustainable growth.
Mr. Krirk-Krai Jirapaet
Chairman, Board of Directors