Message from Chairman
To: Shareholders and Stakeholders of All Sectors
2020 marks another milestone for the pride and growth of CK Power Public Company Limited and its affiliated companies, with their missions to achieve the sustainable business growth, support clean energy production and utilization, including R&D of innovation and technology for electricity production, by giving the top environmental priority.
Despite the global crisis of the current COVID-19 epidemic, which had been happening from early last year, such crisis in no way had an impact on the power plants under management of the Company and its affiliated companies. That was, the Company remained capable of continuously producing and distributing electricity as stipulated in the respective Agreements to the Electricity Generating Authority of Thailand (EGAT), Electricité du Laos, including retail electricity users, and also remained capable of generating the net profit of up to Baht 405 Million, a growth by 111 percent as compared to that in 2019 in which the net operating profit amounted to Baht 192 Million. Moreover, with the Company’s efficient management of the debt to equity ratio, TRIS Rating Co., Ltd. therefore affirmed the Company’s credit rating at “A” with “Stable” outlook, reflecting the performance in development and operation of the large-scale power plant projects and cash flows expected to obtain from the Power Purchase Agreement with EGAT. In the context of the organization, the Company conducted a materiality analysis, raised environmental awareness among staff to ensure staff’s active cooperation in devising projects and innovations emphasizing solutions to the world’s current environmental and social challenges, while enhancing human resource development to enable them to learn new things through executive and staff training in a variety of formats, including improvement of the organization-wide operating processes to keep pace with the age of Digital Transformation, in order to become one of the organizations with sustainable business management.
With the Company’s commitment of developing clean energy and laying the foundation of energy security both inside and outside the country, to that end, sustainability has always been defined as the main mission and corporate culture. For this reason, the Company formulated a systematic plan for Corporate Social Responsibility activities based on ESG with all three dimensions, i.e., Environment, Social and Governance, in conformity with the United Nations Sustainable Development Goals (UNSDGs). Therefore, 2020 marks the year of pride in which the Company received the prestigious awards both at home and abroad, namely, the Company was nominated as one of the Thailand Sustainability Investment Index (THSI) by the Stock Exchange of Thailand; received an “Excellent” rating from Corporate Governance Report of Thai Listed Companies for three consecutive years from the Thai Institute of Directors (IOD), guaranteeing that the Company’s corporate governance served the purpose in the areas of transparency, fair treatment towards related persons, and auditable disclosure; the Company received the Asian Power Awards 2020 for various innovative projects devised by staff to help diminish the environmental impacts, and the IR Magazine Awards 2020 in Best Crisis Management in Southeast Asian for building knowledge and understanding of water and environmental management and electricity production of the Xayaburi Hydroelectric Power Project in the Lao PDR. These remarkable achievements represent another milestone in success lying in the importance of driving the organization to its stable and sustainable growth given by the Company. Therefore, it can be said that in the previous year, the Company was able to achieve its goals and make progress in strategic importance, in terms of growth, profitability and sustainability, all of which enhanced the confidence of investors and stakeholders of all sectors in the long run.
On behalf of all directors, executives, and employees, I would like to extend my gratitude to all of our shareholders, alliances, and stakeholders of all sectors for your trust in and continued support to the Company. Please rest assured that the Board of Directors, the management team and all staff of CK Power and its affiliated companies are fully committed to devoting themselves to the greater development of the organization based on international sustainability by adhering to corporate governance, and being accountable to stakeholders of all sectors. This is to ensure that the Company achieves a steady growth, generates substantial returns for shareholders, as well as playing a part in enhancing stability in terms of clean energy for our country, while protecting and developing society, communities, and environment in the pursuit of sustainability.
Dr. Thanong Bidaya
Chairman of the Board of Directors