The continuation of COVID-19 pandemic from 2021 to 2022 was still the major challenge to manage the Company business. The management laid down guidelines and exercised measures to arrange routine working environment to ensure that every employee was free from the disease. Site supervisors consistently mitigated risks and put high level controls on workplace hygiene until the severity of pandemic subsided in the last quarter of 2022. Since then, the management speeded up all project works to as to complete them on time. The annual performance of the Company was, therefore, satisfactorily achieved with high profitability level for another year of success, as shown in this Report.
In 2022, the Company continued to reshape its business strategies so as to develop appropriate work processes in line with Good Corporate Governance guidelines, in respective to New Normal context. Taking into account social benefits and environmental conservation in business processes creates values, delivers business stability and renders sustainable outcomes to benefit all stakeholders. For social concerns, the Company has recently declared its intention to conduct business free from corruption by joining the Thai Private Sector Collective Action against Corruption (CAC) and has been in the process of applying for certification from the CAC. In this regards, the Company established practical measures of internal controls according to the Company’s anti-corruption policy and established guidelines for the management to communicate same to all employees so that actions against corruption are taken up at all staff level throughout the organization.
To promote Good Corporate Governance in practices, the Board of Directors had initiated a Control Self Assessment (CSA) project to instill values and business management culture with respective to risk assessment and internal controls such that internal controls are direct accountability of each Department Head. Every department is encouraged to continually improve its own effectiveness of internal controls by oversee that all in line supervisors conduct risk assessment and take sufficient internal controls in collaboration with other supervisors in cross functional manner. In 2022, the Company assigned all Department Heads to evaluate compliance with labor protection laws, the Company’s human resource management rules and regulations of which the assessment results was presented to the Audit Committee for consideration and receiving advice for further development.
Taking a small step towards energy conservation and environmental preservation, in last quarter of 2022, the Company conducted a feasibility study for an installation of a solar power generation unit at the Head Office in Rayong province. Solar energy is a green and renewable energy which reduces operating cost compared to buying electricity from the Authority. In addition, the project helps raise an awareness of energy conservation and the benefits of clean energy to employees and nearby society such that it contributes to the reduction of environmental impact compared to fossil fuel electricity generation.
On behalf of the Board of Directors, I would like to express sincere gratitude to shareholders, customers, business partners and all stakeholders who show trust on the Company and continually support Company business throughout the years. Thanks to all executives and employees who perform their duties with the best of their abilities and always be ready to deal with high challenging situations. CAZ is committed to manage its business in accordance with the principles of Good Corporate Governance, manage risks cautiously, raise the effectiveness of internal controls and improve all aspects of operations to achieve optimal social benefits, stronger organizational foundation and sustainable growth
Mr. Narongrit Tavornvisitporn
Chairman of the Board of Directors