In 2022, it is considered the first year that the Thai economy has recover with a growth rate of approximately 2.6%. The significant factor is vaccination, which is considered a drug to resume the domestic economy fully, as well as to re-open the country to tourist, which is considered one of the country's main sources of income. However, the path ahead may not be smooth. Therefore, we must be prepared to beat the obstacles and challenges both within and outside the country.

The economic slowdown, inflation rising steadily since the beginning of the year, interest rates tend to increase significantly, political instability, household debt, and the strictness of mortgage loan by financial institutions; it is still an external factor that puts pressure on housing expansion. We still need to monitor the situation closely, but inside every problem lies a precious opportunity. We believe that the Thai economy will recover gradually as demand for housing and the tourism business has good prospects, it's able to recover faster than expected. Therefore, consumers will make an immediate purchase decision due to concerns about future price adjustments.

Although the current economic activities have begun to recover somewhat, business operations still be prepared to beat with changes at all times. During the past year, the Company has continuously formulated and adjusted its business plans consistent with changing factors. Emphasis is placed on creating a balance between operating results along with managing various risks based on sustainability and good corporate governance principles, considering the responsibility to stakeholders simultaneously.

As operating on the basis of good governance resulting in the past year, the Company got "Excellent" rating on good corporate governance according to the Corporate Governance Report of Thai Listed Company (CGR) from the Thai Institute of Directors (IOD) for the sixth consecutive year under the support of the Stock Exchange of Thailand. I would like to congratulate all Ananda executives and employees for your efforts in maintaining our corporate governance rating, which we have always adhered to, and it is our greatest honor that people recognize our true intentions.

Throughout the past, the success from the support of all parties has made the Company achieve its goals for sustainable growth. I, as the Chairman of the Board, would like to assure all stakeholder that the Board of Directors, executives and employees will strive to perform their duties with awareness and responsibility for the utmost benefit of all sectors under good governance and principles. I would like to express my gratitude to all sectors for your confidence, trust, support and good cooperation in our operation. Also, shareholders, customers, financial institutions, business partners, stakeholders, as well as all executives and employees who participated move together steadily for the success of the Company's business operations toward the leading real estate company in Thailand.

Dr. Narongchai Akrasanee
Ananda Development Public Company Limited