While the COVID-19 pandemic continued to spread and impact many people in 2023, a series of measures and precautions ensured that people could resume their daily lives and -as fully as possible -live ‘together’ with the disease. Despite the economy still being immersed in a mild recession, business operations were also gradually able to return to normal. Nonetheless, international conflicts, high interest rates and inflation, currency fluctuations, energy crises and the strictness of financial institutions in granting loans all affected sales and consumers spendings, in spite of government-issued policies designed to stimulate the economy. Although the Company has been diversifying its investment portfolio both in terms of products and customers groups and not depending on any specific business concentration, it is expected that this will be a real challenge for the Company as the real estate business will continue to face increasing competition.

As such, the Company has made preparations to ensure that we can cope with situations that may affect the company’s business, namely by restructuring the Company’s business to constitute clear and concise focuses. That is, an emphasis on real estate development for rent and the services of warehouse and factory buildings, both of which the Company considers to be the business with great future growth potential. At the same time, the company will continue to diversify its products and customers bases to ensure its ability to capture the opportunity for sustainable revenue growth in the future.

On behalf of the Board of Directors and management, I would like to extend my thanks to all the shareholders, investors, financial institutions, business partners and stakeholders for their continued confidence in and support for M.K. Real Estate Public Company Limited’s operations. Additionally, I wish to express my gratitude to members of the management team and -as always -all of our employees. I wholly appreciate their dedication, perseverance, and willingness to work together throughout the ups and downs, including the most challenging of times the Company has faced throughout the pandemic. Please rest assured that the Company will always be committed to doing business with respect to good governance practices, to ensure that our organization maintains a strong foundation while simultaneously generating revenues and achieving sustainable growth.