Message from the Board of Directors

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Dear Shareholders of COL Public Company Limited

Today, the world of commerce is in a significant transitional stage due to the rapid change of technology. The trend of E-commerce has started to disruptively change all facets of the retail industry and consumer buying behavior in most countries like never before. Evident changes are, for instance, convenience in buying products and services being offered, changes towards becoming a cashless society, a linkage of information, stores and customers through the form of Omni-channel. While Thailand’s online retail business has changed dramatically due to the penetration of overseas online retailers, the competition in the online Business to Consumer (B2C) market becomes more violent and forces retailers to adjust their business strategies in keeping up with those changes.

COL Public Company Limited (“Company”) is ready to keep up with the current of E-commerce by applying new technology to fortify and enhance its competitive advantages. The Company has distributed the products through more than 170 stores nationwide and via online system linking with efficiently managed logistics, leading to become a seamless retail business of the future and enabling to keep abreast of the rapid growth of the E-commerce market. While B2C online business competition becomes even more severe and competing with low price strategy, the Company has reviewed its business plan resulting in discontinuing the operation of Central Online and Cenergy Innovation business since August 1, 2017 and refocusing on the operation of existing business-to-business (B2B) market, the area in which the Company gains proficiency and expertise, for the benefit of the Company and its shareholders in the long run.

Regarding the Company’s performance, the year 2017 was a great leap forward. The Company reported the net profit of 502 Million Baht, increasing by 31% from previous year. The achievement was contributed by operating the business in the right path, coupled with efficient and effective business management. The Company’s two core businesses (OfficeMate and B2S) could generate profit growth and gain higher profitability ratio than previous year. This was such satisfactory performance amidst the intense competition of the retail business as well as the gradual recovery in consumers’ shopping environment during the year. In addition, the Company had financial stability thanks to the cash flow derived from every year’s operating results and no financial debt. Thus, the Company is well-prepared for every investment to accelerate its business growth in the future.

In addition to the commitment to achieve the operation goal, the Company places high importance on good Corporate Governance, transparency and auditability. All directors, executives and employees are encouraged to perform their duties based on ethics and Code of Business Conduct, take into consideration impacts on all groups of stakeholders, and sustainably conserve the environment. These are the guidelines to which the Company has always been upholding, enabling the Company to earn “Very Good” rating in the Corporate Governance Report of Thai Listed Companies, assessed by the Thai Institute of Directors, for six consecutive years. The achievement has reflected the intention to build sustainable business as well as the importance given to all stakeholder groups equitably. Besides, the Company has made the declaration on anti-corruption to Thailand’s Private Sector Collective Action Coalition Against Corruption (CAC) and prepared for the CAC certification in 2018, aiming to express the Company’s commitment of business operation with honesty, transparency and fairness without corruption in any forms.

The Corporate Social Responsibility, one of the Company’s significant missions, is defined as a part of the business strategies to promote education among children and youths, firmly believed to become the main force of the country’s development. The Company, thus, provide educational support in several projects as follows; the project of delivering learning equipment to schools which lack tools and equipment or those affected by natural disasters nationwide; the project “The 1Book E-Library”, which is the online library application compiling over 1,000 books for children and youths to search for information and develop their learning ability outside classroom free of charge; and, the collaboration with Central Group in many other social and environmental initiatives to contribute maximum benefit back to the society and the environment for sustainability.

The Board of Directors on behalf of the Company would like to express our gratitude to shareholders for always having trust in and providing support to the Company’s business operation, to all stakeholder groups ranging from customers, business partners and surrounding communities in which the Company’s stores are located for providing the Company with continual support and collaboration, as well as to all executives and employees for being the key force that drives the Company’s business to grow consistently every year. The Company is committed to operating its business to achieve the set goals and conforming to its good corporate governance principles and the code of business conduct to grow sustainably, bearing in mind the creation of maximum benefits for shareholders and all stakeholders.

The Board of Directors
COL Public Company Limited