Message from the Chairman

Sanit Worapanya

Chairman of the Board of Directors

In year 2019, the overall picture of the Thai economy is in a slowdown.

This is caused by the effects of the protracted trade war between the People's Republic of China and the United States throughout the year. In addition, the domestic economy is rather contracted due to higher household debt. However, government spending is still the main tool for stimulating the domestic economy including driving investment in the East Economic Corridor (EEC) project, which is considered to be the foundation for the Thai economic structure in the future especially linking with neighboring countries through the development of various transportation routes such as the development and railway system development plan including the infrastructure plan to respond to and support the use of new technology which will enable Thailand to be an economic center of  ASEAN in the future.

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For the business groups of the Company, it still faces challenges with

the economic conditions mentioned above including the relatively high competition from domestic and abroad. However, with the advanced vision of the executives who focus on research and product development (R&D) by concentrating on product development and innovation in the technology including planning and preparation for both production capacity and funding sources in order to be in line with changes in various fields and the behavior of consumers is changing.  In addition, in the past year, the Company reorganized the business group of the company in order to streamline operations and manage business better.

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Lastly, I would like to thank shareholder as well as all executives and

employees who dedicate their energy and motivation to drive the Forth Group to run a sustainable business and sincerely hope to receive cooperation and support from all of you continuously. In this regard, the Board of Directors continued to emphasize the stance of conducting business in strict accordance with good corporate governance in order to ensure stable and sustainable business growth.