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Message from the Chairman of the Board of Directors

Mr.Rath Kitivejosoth

Chairman of the Board of Directors

              In 2018, the overall Thai economic condition revealed a GDP growth of 4.1%, driven by the government’s investments in mega projects and general public spending, as well as growth in the export sector and tourism. Despite a slight decline in the GDP growth during the second half of the year, the overall annual growth remained quite solid. Even though there are concerns over some uncertainties both domestic and international, business sectors still carry on with their operations with the readiness to adjust to changes in overall circumstances.

              2018 can be marked as the year of dynamism toward business sustainability for the Company, particularly in three aspects which were economics, social, and environmental. This followed our roadmap of the SC Re-Invention 2020 that focuses on the residential developments of the future while providing needed solutions to consumer lifestyle changes. Simultaneously, the Company also pursued its proactive strategies that support its competitiveness in the rapidly changing business environment. This resulted in an impressive growth in both the Company’s revenues and net profit. Additionally, the Company expanded its overseas investments to seek new opportunities and create added value to its future business by setting up the following companies and joint ventures:

              1.SC ALPHA Inc. which is incorporated in the United States to invest in properties for rental in the United States. The Company holds 100% in ownership. This company has a registered capital of USD 1 million.

              2.SCOPE Tower Company Limited which is incorporated with Baht 10 million registered capital. The Company holds 79.99% ownership in this company via its ownership of SCOPE Company Limited. The company is incorporated to develop properties in promising areas in central Bangkok.

              3.SC NNR 1 Company Limited which is a joint-venture between the Company and NISHI-NIPPON RAILROAD CO., LTD., Japan with the share participation of 54.99 : 45, respectively. This company has a registered capital of Baht 1,200 million established to undertake real estate developments.

              Furthermore, the Company also participated in a “Co-Creation” with its business alliances in other business activities such as the sustaining innovation under “Circular Economy” concept. The business alliances in these activities are Siam Cement Group (SCG) and Dow Chemical Thailand which are business leaders in innovative plastics. The activities include recycled plastic roads and other recycling processes that turn plastic waste into new added value and usable items. The recycled plastic roads benefit the community both in terms of the increased strength of the road and the reduction of plastic waste.

              The Company has also joined hand with the Research and Design Service Center (Redek), King Mongkut’s University of Technology Thonburi to study new residential models and apply these concepts for design and development of the allocated area in the “Neighborhood Bangkadi” project. The project consists of a 6 rai plot of land in Bangkadi, Pathum Thani Province. The project is situated in front of the Company’s low-rise development sites for 7 low-rise development projects, with a total plot area of 240 Rai. This project aims to maximize benefit to dwellers and surrounding communities. Additionally, the Company has a high level of corporate preparedness by jointly working with a leading consultant – Slingshot Group to prepare its organizational culture to support its goal of becoming a “Living Solutions Provider” for new modern lifestyles.

              Under the corporate focus on sustainable business, good corporate governance, and responsibility to society and community, the Company was awarded 3 awards from the Security Exchange of Thailand in 2018, which were:

              2) Thailand Sustainability Investment 2018 (THSI). The Company has been awarded this award for four consecutive years. The award is granted to the Company which was listed under the “Sustainable Stock” that has outstanding performance in environmental and social management, as well as having a high standard in good corporate governance.

              1) SET Sustainability Awards 2018 under the category of outstanding publicly listed company on sustainability. This award is offered for the honor of being a good model in business sustainability. The Company was the only company within the market capitalization of Baht 10,000 – 30,000 million to receive this award.

              3) Outstanding Investor Relations Awards from the SET Awards 2018. The Company is one out of 5 companies within the market capitalization of Baht 10,000 – 30,000 million that received this award.

              The Company was also awarded other awards and honors such as Sustainability Report Award 2018 under “Recognition” category. This award is offered by the Securities and Exchange Commission of Thailand, the Thai Listed Companies Association, and the Thaipat Institute to promote full disclosure in Environment Social Governance.

              Moreover, the Company was awarded with two outstanding honors for its luxurious single detached houses, and moderate priced single detached houses during the 2018 outstanding real estate development awards ceremony organized by the Agency for Real Estate Affairs Company Limited, and was selected as one of the Top 10 Developers Awards for 2018 from the BCI Asia Awards.

              Our success has always been driven by the support of all our stakeholders. This enables us to achieve our business goal and maintain sustainable growth. On behalf of the SC Asset Corporation Public Company Limited, we would like to thank all our supporters namely our shareholders, customers, financial institutions, business counterparties, stakeholders, executives, and employees for providing trust, confidence, support, and collaboration in our activities and operations, as well as rendering the chance for steadily stepping forward together.