The Board of Directors and the Company’s Management promise that we will continue to conduct business with integrity, transparency, and adherence to good corporate governance and sustainable development principles
On 7 November 2016, as Thaicom Public Company Limited celebrated the 25th anniversary of its founding, the Board of Directors, management, and staff gathered to honor the legacy of His Majesty King Bhumibol Adulyadej. Upon the successful launch of the Company’s first satellite, His Majesty presided over the opening of the satellite control station and graciously gave the name THAICOM-a shortened form of Thai Communications-to the satellite. Since that time, Thaicom has launched a total of 8 satellites into space, laying the foundations for Thailand’s modern communications infrastructure and paving the way for continual developments in telecommunications, education, society, banking and finance, and service provision. After establishing itself in Thailand, the Company has expanded its services to other countries within each satellite’s footprint. Accumulating extensive experience in the satellite business and engineers for the space industry in countries such as Australia, China, Myanmar, Vietnam, and India, the Company has earned the trust of customers across the world while continually bringing revenue into Thailand from overseas.
Over the past 25 years, the Company has faced a variety of challenges. In fact, not a year has passed without challenges for Thaicom. But these challenges have built a strong culture within the Company-a culture in which people are valued as our greatest assets as they strive for service excellence, face challenges head on, create innovative solutions, and leverage their technical expertise to contribute to society. In 2016, the Company faced changing social landscapes and a slowing global economy which had direct impacts on the Company’s revenue. These variables, in addition to a changing regulatory environment and technology that is evolving more rapidly than many expected, affect the Company’s business operations. However, regardless of whether the Company meets financial targets, the Board continues to place importance on building good governance and sustainable practices. In 2016, the Company received a corporate governance rating of ‘Excellent’ (or ‘5 Stars’) for the fourth year in a row (2013-2016) in an annual survey of publicly listed companies conducted by the Stock Exchange of Thailand and the Thai Institute of Directors. The Company also received a Sustainability Report Award for its initiative in publishing an SDG-Enhanced Sustainability Report clearly linking the company’s business performance to the United Nations’ 17 Sustainable Development Goals (SDGs).
The Board is now focused on dedicating time to working alongside management in the formulation of strategies for the Company’s future. The Board will spend more time evaluating and reviewing strategy to ensure that the Company sets business goals that are appropriate to current circumstances, managing and controlling risks, allocating budget and resources, and closely advising the management team.
For 2017, the Board has established directions which are focused on achieving growth through optimization of the core satellite business, expansion to adjacent businesses, and exploration of new businesses which can drive financial growth for the Company in the future. The Board has approved a change to the organization structure creating a dedicated unit responsible for corporate strategy and new businesses. The Board will also support engaging a leading consulting firm with expertise in telecommunications and related industries to help the Company broaden areas for future growth.
The Board is dedicated to perform our duties, in keeping trust the shareholders have granted, to ensure sustainable growth, international management standards, good corporate governance, and strategic plans that allow Thaicom to continue to conduct business sustainably for the benefit of all stakeholders.