Dr. Thanong Bidaya

Chairman of the Board of Directors

Throughout 2021, Thailand continued to face the challenges of the ongoing COVID-19 pandemic. It is expected that recovery will still take some time before the country is truly able to move forward pass the crisis and toward its true potential. To do this, we must begin to look ahead at the competitive landscape of the global market and the ways we must adapt to the “New Economy” or “Digital Economy,” which requires us to compete using “Advanced Technology” and “Human Capital.” Beginning to take steps now will allow us to be prepared for the true competition that is soon to come.

2021 was yet another year in which “TTW” stood side by side with its employees, customers, partners, shareholders, and stakeholders to ensure that the Company’s business operations were carried out in accordance with our Business Continuity Planning (BCP) and stringent preventative measures. This allowed us to deliver a continuous supply of sufficient quality tap water to water users in all sectors, despite the many challenges impacting the economy overall, the tourism industry, small and medium enterprises (SMEs), and even the household sector.

On the financial side, based on the Company’s strong financial position and ability to generate good cash flow, the Company has been assigned Corporate and Issue Credit Ratings of “AA-” with a “Stable” outlook by Thai Rating and Information Services Co., Ltd. In addition, the Company retains some cash reserves to reduce the risk of emergency scenarios or lack of liquidity, and continues to manage financial costs and unnecessary expenses. We also strive for sustainability by setting goals for the reduction of greenhouse gas emissions (GHG) and not less than a 0.05% reduction in electricity consumption, as well as the use of alternative energy sources, such as solar rooftop systems, throughout the past year. All of this confirms our readiness for a full transition into the Low-Carbon Economy age and our goal of supporting Thailand in its move toward clean energy and the reduction of carbon emissions to zero, or “carbon neutrality” by 2065-2070 AD.

In the year 2022, we look forward to yet another challenging year for “TTW,” due to both the continued existence of the COVID-19 pandemic and the many economic changes and technological competition throughout the business world, which likely will never be the same again. However, with the potentiality and determination of our team in a wide variety of fields, as well as the dedication of our Company to operate our business according to our stated mission of “growing on a firm, continuous, and sustainable basis in order to accomplish our vision through the balance of customers, employees, business partners, shareholders, communities, and environment,” I am confident that we will see this vision in action throughout this coming year and will continue to make steady strides forward progress.

On behalf of the TTW Public Company (Limited) Board of Directors, management, and employees, I would like to thank our shareholders, business partners, affiliates, communities, and supporters in all sectors for their trust and support of “TTW” at all times. In closing, I wish you and your family safety and protection from the spread of COVID-19 and hope that Thailand can once again move forward with a smile—that is the vision I see for all of us when the COVID-19 crisis is finally over.