Thai Theparos Food Products Public Company Limited (Thailand) (66) 2 703 4444
Thai economy in 2008 has continually undergone a recessionary period since 2007. Coupled with many negatives factors as the US Sub-Prime Mortgage Crisis and Hamburger Crisis following to the relentless increase of oil price at a high record level have weakened seriously to worldwide economy. And our company was no exception; the price of the company's raw materials has been sharply driven up to 30%-40%. Under the stepping up and uncertainly oil price, we were unable to fully control the raw material cost and budget as targeted. Besides, the purchasing power has seriously been weakened, as well a slight decline in export in real terms has continued, the company sales in the 4th quarter was impacted and slow downed which caused the company profit decrease compared with 2007. Though the oil price was decreased in the 4th quarter, the longer term economic prospects for Thailand remain sluggish.
Thanks to our ongoing and implemented development preparedness for 4-5 years to strengthen and improve the organization regardless of prevailing economic situation. Most of the production projects were achieved as scheduled. Regarding to the big project as the New Spray Dry Plant was completed and provides much more capacity and efficiency as aimed. With the awareness of every production quality goes in harmony with the employees quality, we emphasis on production capacity and products quality improvement in term of operations, machinery and tools, process, hygiene parallel with the employee's thinking creative ideas and work competency development. Those compound us to overcome all obstructions to the desired level.
The current climate of global economic slowdown was predicted to persist for not less than 2 years. The government has to come up with the effective policies to prepare itself for this situation, not only try to transform Thailand into the kitchen of the world but also attract the overseas food buyers with the innovative and added-value food products constantly meet new requirements set by the individual markets. Encouraging the local farmers and beefing up the agricultural products' international competitiveness by increasing investment in research and development. Create a more favorable climate for investment to boost investors' confidence. The seasoning sauces will play the significant role as quality ingredients in this sector which will greatly contribute to the country's economy.
From now on, our commitment is to continue focusing on the high quality standard control on manufacturing process with the raw material management on quality, freshness, wholesomeness, safety and the optimum cost aiming to the company higher potential performance and good benefits. This will require the utmost effort unceasingly.
Parinya Winyarat
Chairman
We remain encouraged by the consistent support of our employees, stakeholders, customers, end users and business partners. On behalf of the Board of Director and management, I would like to express our deep appreciation.
