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Chairman Statement

     
 

To: Shareholders of

Pylon Public Company Limited

 
 
In 2017, Thailand’s overall economy expanded well from 2016 due to a number of key economic revival factors such as the growth of export, private consumption, and government spending. However, the slowdown of private and public sector investment had a negative impact on the overall construction industry since the beginning of 2017. As a result, the construction industry faced higher market competition and the company’s operating results in 2017 were affected. 
 
     
  As regards the construction industry outlook in 2018, the company expects that the government will be able to push through the construction of key megaprojects such as the MRT Pink Line project (from Kae Rai to Min Buri), the MRT Yellow Line project (from Lat Phrao to Samrong), and the MRT Orange Line project (from Thailand Cultural Center to Min Buri). Also, it is expected that the government will begin and complete the bidding process for the remaining infrastructure projects under the urgent action plan for investment in transportation infrastructure megaprojects for 2016-2017.  
     
  Moreover, the recovery in private investment has shown signs of improvement as evidenced by the gradual increase in new condominium projects. This also further supports an optimistic growth outlook which is in line with the key government investments and will positively support overall growth and recovery of the foundation construction industry in 2018  
     
  Since the company’s primary goal is to achieve long-term growth and sustainability, the company shall continue to adhere to its policy on customer base expansion and give more priority to customer screening processes, effective cost control, liquidity management, and continued human resources development. Furthermore, the company plans to seek new business opportunities by leveraging its strong financial status in order to achieve its long-term potential.  
     
 

On behalf of the Board of Directors, I would like to take this opportunity to thank all shareholders for your trust in the company’s management and operations. Special thanks go to those who have provided to the company their endless support. I also would like to thank the company’s management team and all of its employees for their joint efforts in carrying out their duties with accountability and diligence. All these factors play an important part in laying solid grounds for Pylon PLC's future development and ensuring its growth as well as ultimately achieving both its short and long-term goals.