(Mr. Panot Sirivadhanabhakdi)
Chairman of Executive Committee
2015 was another satisfying year for Golden Land Property Development PLC in which we successfully accomplished our operational goals despite the economic challenges. As general economy had not fully recovered from the prolonged economic slowdown, banks have also been tightening credit standards for loans. Our company nevertheless, made remarkable success in selling its low-rise residential developments, and made impressive progress in its new developments such as the FYI Center.
Our Company was able to return to profitability in 2014. Therefore, in 2015 we were focusing on strengthening our business position and pushing forward for continual growth. Our corporate vision is to become a leading real estate company which is committed to improving the quality of life for our customers and providing a better tomorrow for our society. We have improved ourselves in every aspect of our business and aim to secure our incomes from the two main activities which are 1) Property developments for sales that includes low-rise residential developments, 2) Developments of commercial real estate which provides long-term revenue streams. Even though the development of commercial real estate may require a longer construction period, it assures our stability in the revenue stream that can strengthen our continual growth path regardless of how volatile the market is. Property investment can also provide investment yield to our company.
Our company has already been working on this corporate vision by requesting the shareholder resolution from an Extraordinary General Meeting of Shareholders in December 2015 to approve issuing new common shares and sales of these shares to Frasers Property Holdings (Thailand) Co., Ltd. (FPHT), a subsidiary of the Frasers Centrepoint Limited which is a leading Singaporean property company. These transactions provide our company with funding that can be used to support its future business growth.
As the Chairman of Executive Committee of Golden Land Property Development PLC, I would like to extend my sincerest thanks to all our management, staff, and stakeholders for their continued trust and support. Finally, I would like to assure all of you that our company is committed to operating our business transparently and efficiently to ensure the best returns to our shareholders and all interested parties, and that our company will soon become a leading property development company with sustainable growth.