Anuphong Assavabhokhin

Chief Executive Officer

The preceding 2021 was another challenging moment for all business sectors to carry on amid the fluctuated economic situation. Moreover, the severity of the pandemic prolongs and no one can avoid that. Vaccine has been our hope for the past 2 years but now, the emerging variants make it hard to predict the future. Considering Covid-19 is a center of crisis, it will be like the heart of storm that can generate new storm endlessly. No one expects that omicron variant can trigger the situation again. Such chaos emphasises that it is difficult to eliminate this crisis. For this reason, business operation must be prepared and embrace for ongoing changes although the economy has gradually recovered.

However, after reorganisation, all business units become a robust independent responsible leader under the belief that giving independent power in making decision for those working closely with customers will enable AP to respond to their need timely in an era where everything changes swiftly. Plus, independent power is more effective than the decision made by a few people within the organisation. Such approach is a primary strategy that leads AP toward successful upon significant reset. The year 2021 records our best performance in the residential real estate in terms of revenue and sales volume. We earned from the horizontal products, condominium (100 joint venture) and other businesses 40,015 million Baht, with the net profit reaches 4,543 million Baht while the sales volume closed at 35,050 million Baht. The horizontal product and townhome are a major force of our business growth.

Followings are the 3 main strategies that create competitive advantages 1. Product portfolio ready for sales is distributed in various locations — we closed the deal for 20 horizontal projects. 2. Cash Flow Management: throughout the pandemic, the Company maintains the financial stability with excellent performance. As a result, the net debt-to-equity ratio as of the end year 2021 was only 0.60 time. Moreover, digital competency which creating the competitiveness is one of major roadmaps that AP implements as a key of business driving force.

For this 2022, we continue business with prudence as always, but target on business growth indeed. The 2022 will be under the concept AP Thailand Breakthrough, where we will deliver the good life our residents can customise. From the success of a single detached house, we will expand to new markets, with a big surprise from townhome product as well as boosting up condominium for a revive. AP will launch highest number of 65 projects in the industry record in 2022, including Bangkok Metropolis and provincial region. We are confident that EMPOWER LIVING is still our vital compass that guides us toward the success set forth and to nourish our continual growth and sustainability.

I, on behalf of AP (Thailand) Public Company Limited would like to thank you all customers, shareholders and debenture stock holders including all alliances for your continuing trust and support to AP. I hope we will always have your trust and will join the journey together with AP.