Dear Shareholders
In 2023, despite the COVID-19 epidemic situation around the world is becoming better and people are returning to travelling and living their lives as usual before, however Thailand still faces other challenges both from the fluctuating in the world economic situation, the protracted war situation abroad and the rising in cost of living including the people’s awareness of technological changes and new innovations which have influence in the society and business operations. All these factors have greater impact on the lifestyle and consumers’ behavior.
Under the fluctuations from those factors mentioned above, the Company would like to inform you that the year 2023 is being considered the year that the Company begins a new vision of change. The Company has changed its business policy strategy for stability and diversify risks to other businesses rather than its main food business. The Company has successfully invested in and transferred the ownership of the land and office buildings in the center of Bangkok to be used as the Company’s office which will result in decrease in the space rental expenses and also increase consistent income from the remaining rental area immediately, thus increases the financial stability and is an asset that creates value added for the Company in the long term. Moreover, there is an opportunity for the development of new buildings in addition to the adjacent vacant land in the future.
For the main business of the Company, the restaurants, although the overall consumption situation in the country has benefited from the tourism sector which has recovered very fast in line with the government sector’s supportive policies. The Company still need to manage its business cautiously to compete with the rising in raw material costs and the purchasing power of the fragile groups of customers in the country. In addition, the highly increase in competition in the restaurant market, all these factors have caused the Company to continuously change its service branch management policy. Therefore, the Company has to consider changing the restaurant brands in branches that cannot meet the needs of consumer market including closing branches in service areas where the Company is unable to control the operational costs effectively
However, the Company is still well aware of the selection of consumers who require quality, safe and hygienic products and services as the main factors. Therefore, the Company places importance on and continuously invests in developing new products and service style to respond the requirements in line with the rapid changes in consumer behaviors. The Company sets the targets to improve service branches to be modern and easier to reach their customers under various brands that can cover all customer groups at all level and be able to manage all service costs more efficiently.
As for the business plan for the year 2024, the Company will focus the branch expansions on the Company’s new brand, namely “SHABU TOMO” which is a Japanese premium styles shabu restaurants served in individual pots and the newest brand “Ai Huo Guo” to respond the trend of Mala shabu restaurants in a premium style, serving the happiness over the conveyor belt. The Company expects that these new brands will be the significant keys to sustainably turning around the Company’s operation performance in the near future.
On behalf of the Board of Directors, I would like to sincerely thank all shareholders, customers, business partners, financial institutions, and stakeholders for their trust and confidence in the Company’s potential.Please be confident that the Company adheres to workingefficiently with the good governance policy in order to become a sustainable organization, as well as commits to generating good returns for shareholders by focusing on the development of the restaurant business as well as other businesses that relate to the investment policy according to the Company’s objectives. The Company sincerely hopes to earn such great trust and support forever for the Company in order to grow forward in a sustainable way. Furthermore, I would like to thank the Board of Directors, Executives, and all employees that are fully providing an excellent cooperation in their determination and dedication to perform duties as well as to participate in driving the Company's business to grow prosperity.
