Message from Chairman
Dear Shareholders,
Due to the global economic slowdown, interest rates hike, as well as the issue of geopolitical conflicts affecting the energy market, the Board of Directors, executives, and employees have united efforts on enhancing the organization towards the sustainability along with establishing the foundation for change management to cope with the uncertainty. The Company conducts the business following the ESG (Environmental, Social, and Governance) principles, emphasizing on environmental, social, and corporate governance aspects to foster sustainable growth and enhance the organization’s sustainable development in alignment with the United Nations Sustainable Development Goals (SDGs). As a result, the Company has received SET ESG Ratings Assessment for the year 2023 at “A” level, 6 consecutive years of Thailand Sustainability Investment, and received the “Sustainable Disclosure Award 2023” from Thaipat Institute for 5 consecutive years.
The significant drives on environmental aspect, the Company has set goals for greenhouse gas management towards Carbon Neutrality within the year 2050 to support the goals of Net Zero Emission in Thailand. Moreover, the Company has been certified and registered as a Carbon Footprint of Organization from the Thailand Greenhouse Gas Management Organization (Public Organization), including the ongoing certification of the Carbon Footprint of Product (CFP) registration.
The operational results in social aspect of the year 2023, Sahacogen and affiliates carried out 100% assessed the impacts on labor rights, resulting in the achievement of the specified goal. Furthermore, the results of the community satisfaction survey regarding the company’s environmental management and social responsibility efforts are rated as “Excellent” level.
Additionally, in the aspect of good corporate governance in the year 2023, the Company has received the “Excellent” (5-star) CG Score from Corporate Governance of Thai Listed Companies (CGR) conducted by Thai Institute of Directors (IOD) for 4 consecutive years. Moreover, the Company has received 100 scores or 5 TIA in the evaluation of Annual Shareholders General Meeting’s quality (AGM CHECKLIST) from Thai Investor Association and the Securities and Exchange Commission (SEC) for 15 consecutive years.
The company’s consolidated financial operating result of the year 2023 was net profit of THB 94.04 million or increasing by THB 323.22 million from net loss of THB 229.17 million of previous year. The Company and subsidiaries started the Commercial Operation Date (COD) to distribute the electricity from Solar Rooftop Projects to clients with Private Power Purchase Agreements (Private PPA), as planned. Solarist Thungfai Co., Ltd., (subsidiary) signed the 25-year Power Purchase Agreements with the Electricity Generating Authority of Thailand (“EGAT”) to develop and operate a solar farms project. The total contracted capacity of the Project is 27 Megawatts with scheduled commercial operation date (SCOD) within the year 2030.
Meanwhile, the financial stability of the company and the major shareholders resulted the company received credit rating at “A” with “Stable” outlook from TRIS Rating Co., Ltd. for 2 consecutive years.