Dr. Thanong Bidaya
Chairman of the Board of Directors
In the year 2019, TTW made a strong entrance into its 16th year, even in the midst of volatile economic conditions both nationally and on the world stage. The economic direction of the world today is determined by the two poles of world economic power in a trade war that has been ongoing and prolonged for many years. This has inevitably created a ripple effect across the economy of the world and of Thailand, resulting in Thailand’s GDP falling to its lowest in 5 years. Even the Bank of Thailand had to adjust its interest rate policies to the lowest in 10 years in order to support the economic system of today and to survive. With the stable structure and business model of TTW, however, the Company has not been directly affected by the aforementioned factors, as can be seen in the steady growth and performance of the company, even in such unsettled times.
As for our operations, we intend to focus on and pay attention to every part of our process, continually developing and improving each aspect, as well as managing the organization with good corporate governance policies of transparency and fairness, and acting responsibly toward society, our communities, and the environment, in accordance with our Sustainable Development Policy. As the country’s largest private tap water supplier, TTW places great importance on conducting business in a manner that does not adversely impact the environment. For example, sludge created in the tap water production process is researched by experts in order to create added value and promote career development in communities. Additionally, the treated water acquired from the sludge dewatering process is recycled into the tap water production process (Zero Discharge) to ensure no water is being wasted. Presently, some of the electricity used in the water production process is also being generated by solar energy so as to help reduce emissions. All of these initiatives show our concern and commitment to society, the community, and the environment and, combined with an efficient work process, lead to sustainable growth and create worthwhile, stable, consistent returns for our shareholders over the long-term.
Thanks to our determination and resolve in all aspects, TTW received a number of excellent ratings and evaluations by regulatory agencies and well-recognized institutions, including having received a good corporate governance recognition level of “Excellent” from the Thai Institute of Directors Association National Committee in the assessment of Thai listed companies, as well as being ranked by the Thaipat Institute as 1 out of 100 listed companies for outstanding Environmental, Social and Governance (ESG100) for the 4th consecutive year. Additionally, the Company was selected by the Stock Exchange of Thailand to be part of the “Sustainability Investment” listing and part of the list of securities used in the calculation of the SET100, SETHD, and SETTHSI indices. With regard to its financial reliability, the Company has continuously been assigned a credit and bond rating of “AA-“ (Double A minus) and a “Stable” outlook rating by TRIS Rating Co., Ltd. each year, reflecting a strong business status and ability to generate good cash flow from operations consistently. Last year, was also the first time the Company was granted the honorary HRH Princess Maha Chakri Sirindhorn's Trophy in the “Thailand Corporate Excellence Awards 2019” for the category of Corporate Management Excellence, organized by the Thailand Management Association (TMA) in collaboration with the Sasin Graduate Institute of Business Administration of Chulalongkorn University.
In this new year of 2020, we look ahead to another challenging year for TTW due to the many fluctuating economic, political and social factors all around us. However, with the amazing potentiality, determination, and dedication of our company in the production of international-quality tap water delivered to all consumers in every sector sufficiently and continuously, we are confident that 2020 will be yet another year of steady forward progress.
On behalf 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 the company’s operations at all times. I can assure you that we will continue to conduct our business upon a strong foundation of good corporate governance, with a strong sense of responsibility to all our stakeholders in every sector, allowing TTW to grow steadily and surely while also caring for every aspect of our society, community and the environment, and creating sustainable returns for our shareholders.