The management team and I are pleased to inform our shareholders of one of the most important achievements in the year 2012 which has resulted from the continuing commitment and efforts of our marketing and operational team. The company has been awarded the module assembly project for LNG Onshore Facilities which to date, accounts for the largest project the company has ever undertaken. The prefabrication of the modular components will be fabricated and assembled in Thailand before being shipped to Australia for final installation into the LNG Onshore Facilities. With the project worth $739 million, the Company has gained the highest volume of workload in its history; thus, driving a continued growth of the company for the next 3 years.

The company’s performance in 2012 has improved markedly from the year 2011 both in terms of increasing workload and higher profit. Our commitments to improving our experienced team, developing the business database software, managing the project contracts, and strengthening health, safety and environment monitoring systems have enabled the company to continue delivering a satisfactory project to our customers. Furthermore, the Company has continuously maintained its operations without any Lost Time Incidents (LTI) from previous years.

With our experienced teams who have succeeded in a variety of extensive projects, the Company is ready and confident to drive the aforementioned large-scale project forward to its targeted completion. Nevertheless, the management team and I admit that there is a need to focus on improving the risk evaluation and management strategies to a controllable level; namely material price fluctuation, workforce and exchange rate risks. It is a challenge and complexity for the management team to develop and create the best return for our shareholders simultaneously. The management team and I are committed to run the business carefully and to ensure satisfaction for our customers and to bring prosperity and security to the Company in the long term.

On behalf of STP & I Public Company Limited, I would like to thank our shareholders, customers, partners, executives, employees, financial institutions and all related parties, including the public and private sectors, for their trust and continued support for our business, and I hereby, assure that the Company shall continue to operate with transparency, prudence and under good corporate governance with sustainable development practices with our full capacity for the best interests of all stakeholders.

Masthawin Charnvirakul

Managing Director
STP&I Public Company Limited