During the year 2016, the overall global economy expanded slightly. Although the economy in many countries slowdown from the year 2015, but the US economy continued expand, unemployment decreased. The EU economy has expanded but unemployment remains high. In addition, there are concerning about the Brexit that may affect the EU economy. Japan’s economy expanded slightly. The economy of the People’s Republic of China continued slowdown. Thailand’s economy in 2016 has continued expand due to the government stimulus policies, accelerating government sector disbursement and the exports expanded in the second half year.
The ceiling fan business of the Company slightly expanded in this year due to the market expansion into Modern Trade has started in late 2016. So, can be expected growth in sales of ceiling fans next year. In the past year, the company launch new product, LED lamps, under the brand “Lumos”, which has well response because of various style, electric save and easy to install. The company is confident that the company will be able to operate the ceiling fans and lamps business and can generate sustainable growth in the future.
Renewable energy business, in the past year, all of solar power energy projects that the Company invest in i.e. investment in shares capital with Wyncoast Industrial Park Public Co. Ltd. in the project of solar power energy on roof (Solar rooftop) and its extension, total capacity 2.63 megawatt and the project of solar power energy on ground (Solar farm) of the Saraburi Group of companies total capacity 5.50 megawatt can generate income and achieve the expected return.
Real estate development business, which the Company invest through subsidiary company and develop the first real estate development project named “Townline Sattahip”, townhome in Sattahip, Chonburi, the project delay in the past year due to the longer period of rainy season more than usual make the contractor cannot carry out the exterior decoration and also delay from contacting government agencies. The Company expect to recognize income from the project in year 2017.
Finally, on behalf of the Board of Directors, we thank our shareholders, customers and business partners who trust and support of the company’s operations as well. Also, thank you to the management. And employees of the company who cooperate through various obstacles and dedicate to working fully. The Board of Directors and Management insist in our commitment to make more growth to our company. Managed with professionalism and good corporate image and make sustainable successful to our company further.