2019 was the year of challenges and opportunities for Ananda and Thailand. The past year saw Thailand’s GDP growth revised down more than the expected several times affected by domestic and international factors. Strong Thai baht relative to other currencies affected the country’s exports, and so US-China did the trade talks and a slowdown of the world’s economy. However, the Thai economy was still backed by the robust tourism industry, consumer spending, and government disbursement.

The current mass transit lines totalling over 100 stations, which will be ready to be double in the number of stations in the next few years is a positive factor for Ananda and will expand the scope for Ananda to implement its strategy of mass transit living and continue to generate investment opportunities for many years to come. In addition, low interest rates, and several stimulus measures from the government have reinforced the property sector and Thailand economy among the challenging external factors.

In the year 2020, the company will start to recognize recurring incomes from 2 serviced apartments in Rama 9 and Sukhumvit 8 which is a partnership with global partners like The Ascott Limited, which is one of the number one luxury serviced residences in the world. The company also plans to diversify revenue channels by adding portfolios from recurring income. We see the opportunity to expand the business and is an investment that will provide income in the long run.

The company has committed itself to fulfil its obligations and to extend these to the wider community. The company continued its support of Habitat for Humanity and has generated income for the community. The company supports CSR inprocess and after-process activities which are carried out in effort to promote sustainable development of the society at large. In 2019, Ananda has continued its commitment based on the concept of Ananda being an UrbanTech company. Over 50 public activities were involved with partnerships including local and international technology companies, bringing the world’s best innovators to Bangkok to share their knowledge with the community to improve the technology ecosystem. In partnership with The Federation of Thai Industries (F.T.I.), Ananda organized the “Exponential Manufacturing Thailand 2019” summit, the best seminar to transform the industrial sector for the first time in Southeast Asia. In collaboration with Brick & Mortar Ventures and the Social for Construction Solutions (SCS), Ananda organized “The World’s Leading-Edge Construction Technologies” seminar. It aimed to explore the world’s cutting-edge technologies in construction which currently disrupts the construction industry in the way we design, construct, and maintain the built world, as well as learn about future trends of construction technologies.

I would like to congratulate the management and staff of Ananda for maintaining our Corporate Governance Rating by Thai Institute of Directors at the excellent level, as well as for being awarded Best Investor Relations of the Year by the Stock Exchange of Thailand. We take corporate governance and investor relations very seriously and we appreciate this being recognised.

On behalf of Ananda Development Public Company Limited, I would like to convey my appreciation to the shareholders, customers, financial institutions, members of the press and business partners for their support in helping bring Ananda to this point where we are now realizing our true potential. I would also like to thank the Board of Directors, executives and staff for the total dedication they have displayed in bringing Urban Living Solutions to improve the quality of urban life for the people of Bangkok and continuing our journey to be the leading property company in Thailand.

Dr. Narongchai Akrasanee
Chairman of the Board
Ananda Development Public Company Limited