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Chairman Statement

Dear shareholders

In the past year, Demco Public Company Limited had reached its first objectives of organizational restructuring, human resources and management development to have sufficient qualifications to become listed in Thailand’s stock market  in order  to support the company’s growth over the past 3 years.

Demco had continuously grown from various kinds of businesses. In 2005, the company has gross revenue of  610.47 million baht, of which 24.26% came from its steel structure manufacturing and 70.21% from service business. The company made a profit of 8.55 Million Baht, or 1.40%, mainly from the profit in telecommunications business which contributed 27% of revenue, overriding a 4.58 %  loss from manufacturing business which had high overhead costs.

In 2005, Demco Public Company Limited has gross revenue of  1,532.53 Million Baht; 16.44 % from its manufacturing plants, 81.64  % from services business. The company  had net profit of 44.43 Million Baht, or 2.90%. The manufacturing business achieved a 12.44% profit from its production downsizing, while service profits decreased to 8.64  % due to increasing of government sector in year 2005 and unstable of construction material price.

In 2006, Demco Public Company Limited had earned 1,354.97 Million Baht of income; 79.03  %  coming from services business and 19.03 %  from manufacturing sales. The initial profits from manufacturing and service businesses reached 21.15% and 18.20%, respectively, as production capacity increased sharply from electrical engineering agreement contract from private sectors in the end of 2005 and the beginning of 2006. Thus, the company’s net profit  in 2006 increased to 100.25 Million Baht, or 7.40%. The mentioned phenomenon has proved the company’s flexibility in management of various marketing channels and customers.   

In 2007  political unstable since the middle of 2006 caused private sector investment slow down, but the government sector, -The Electricity Generating Authority of Thailand, The Provincial Electricity Authority and The Metropolitan Electricity Authority Transmission Line System - still carry on their projects to support the increasing demands. Besides, the auctions of IPP and SPP plants and government policy to the private sector to construct VSPP were the supporting factor to the company business in the short middle term. The company is confident for our next solid move.

However, our past success and our next step to the lasting future depends on efforts and dedication of the company’s board of management as well as the staff, shareholders and other related person. On behalf of  Demco Public Company Limited, I wish to thank everyone involved in the company success for all supports that they given up to this day. I look forward to everyone’s confidence and future support to strengthen the company so as to bring about highest benefits to everyone as a whole.

(Mrs. Praphee Puipunthavong)