Throughout the period of more than 22 years, UAC Global Public Co., Ltd. strived to conduct business to continue strengthening stability and sustainability of all of its businesses, namely, import and distribution of chemicals and equipment used in various industries, particularly, petrochemical industry, refineries and energy, which is its main business; investments in projects related to alternative & renewable energy and production and distribution of chemical products. Such businesses have been performed pursuant to the Company’s vision and mission to be the business operator of clean energy, petrochemicals and utilities which are social and environmental friendly, as well as with responsibility to shareholders and all groups of stakeholders, i.e. the employees, who are regarded as the main drive-force of the organization to stability and sustainability including the business partners, the relevant communities and the most important stakeholders: the shareholders. Hence, the Company has performed businesses prudently, carefully and by mainly taking into the maximum benefits of the shareholders by adhering to corporate governance principles, transparent and equitable treatment and anti-corruption policy.
In 2017, the Company has developed strategic plans and streamlined its business operation directions to make them conform to the occurred situations and has added more value to the organization, with regards to development and improvement of production systems of the Petroleum Production Plant (PPP) and Mae Tang 2 Biogas Power Plant in order to enhance efficiency of their production processes as well as to increase productivity. The Company also increased production capacity of the chemical plant of UAC Advance Polymer and Chemicals Co., Ltd. (UAPC) to support for business expansion domestically and internationally, of which commercial operation of the new expansion phase has commenced since December 2017. Moreover, the Petroleum Production Plant (PPP) has been certified for ISO9001:2000 Quality Management System, ISO 14001:2015 Environmental Management System and OHSAS 18001:2007 Occupational Health and Safety Assessment from the Management System Certification Institute (Thailand) (MASCI) and its performance has been ranked at “Platinum” level as assessed by the Occupational Health and Safety Standard System and Working Environment Promotion Project for Medium and Small Enterprises, a project arranged by Thailand Institute of Occupational Safety and Health (TOSH). Hence, it could be assured that the Company and its subsidiaries always realized the importance of business operations with corporate governance principle, by taking into consideration all stakeholders, together with the communities, society, environment and safety of all parties concerned. Consequently, in 2017 the Company has been selected by the Stock Exchange of Thailand to be “Thailand Sustainability Investment (THSI)” for the second consecutive year.
By having the strategic development in place to deal with the changes in domestic and global economic conditions continually and constantly, the Company’s operating results of 2017 were on the rise when compared with those of past year. The Company’s revenue from sales and services was 1,626.87 million Baht, an increase by 22.82 percent of 2016 because the Company began to recognize revenue from investment in energy projects coupled with the increase of sales in main business. Earnings before interest tax, depreciation and amortization (EBITDA) and net profit were 296.63 million Baht and 95.40 million Baht, respectively, increasing by 54.80 percent and 641.52 percent from the previous year because the Company can decrease administrative and selling expenses of 22.14 percent, when compared with the amount from last year. However, profit sharing from investments in Bangchak Bio-fuel Company Limited, an associated company that the Company held 30% of its shares, has decreased by 92.70 percent which was attributable to the reduction of crude palm oil prices that it led to the decreased selling price of B100 and from the loss of inventory.
Nonetheless, the Board of Directors and the management have specified business plans and business operation strategies to prepare for fluctuation of circumstances from within and outside the country which may impact to the Company’s businesses, both short-term and long-term. The Company has objective to increase revenue to 3,000 million Baht by 2020 by focusing on investment in energy projects or businesses which the Company has experiences and expertise to enhance stability as well as development of potential of personnel and work processes with an aim for Operation Excellence including expansion of market shares within the country and in CLMV countries. The Risk Management Committee shall prudently and carefully consider about project investment risks and risks from investments by taking into account risk factors in all respects before proposing to the Board of Directors and/or the shareholders for further consideration and approval.
On behalf of the Board of Directors, we would like to thank all stakeholders, including the Company’s management and employees who contribute to continued success and stability of UAC’s business which are consistent with the corporate governance principles in order to keep the organization moving forward with efficiency and to sustainably achieve the specified targets.
(Mr. Paiboon Sareewiwatthana)
Chairman of the Board of Directors
(Mr. Kitti Jivacate)
Chief Executive Officer