Message from Chairman and Group CEO

The year 2018 is an important year for WHA Group. We not only achieved the strong operating result but also have established the strategy map to be a leader and ready for exponential growth for the year 2019. The Group's strategy map is to focus on how to raise the bar of our core business, embrace innovation and smart technology, and emphasis on strategic partnerships to strengthen and be mutually beneficial partnerships as well as reap full benefits of WHA Group synergies to be ready for digital era.

The year 2018 is another year in which WHA Group has substantiated the leading position of a fully integrated logistics and industrial development, utilities and power as well as digital platform. The Company has reported performance with total revenue and share of profit at THB 11,622 million and net profit of THB 2,907 million. The normalized net profit excluding FX impact and one-time gain/loss item stands at THB 2,918 million, an increase of 2% compared to the previous year with total asset of THB 78,345 million. This reflects our strong and sustainable business growth. In addition, the year 2018 is an important year for WHA Group as the Company has established the strategy map to be a leader and ready for exponential growth for the year 2019.

During the past years, the Company has been an integral part to drive the economy growth of the country. The Company also supports the Government's initiatives so called Eastern Economic Corridor (EEC) where our 9 industrial estates have been declared as Special Promotion Zones to attract the foreign direct investment (FDI) aligned with 10 targeted industries. The Company has also formed the business collaborations with global E-Commerce giants to set up special economic zone and E-Commerce Park in Chachoengsao province. Our WHA E-Commerce Center and other projects should materialize from the year 2019. In addition, WHA Group has initiated the strategic collaboration with a business leaders e.g. the establishment of joint venture with IRPC to develop new industrial estate in the EEC area and the joint venture with Gulf, Mitsui and Co., and Tokyo Gas Asia to operate the natural gas distribution (NGD) in our 3 industrial estates. Apart from the domestic expansion, the Group also embarked an international expansion to develop first industrial park in Nghe An province, Vietnam under the name of "WHA Industrial Zone Nghe An" where WHA Utilities and Power Public Co., Ltd. acts as water service provider with total solution concept including water service and waste water treatment to the industrial customers.

During the past year, the global economy might experience some slowdown as a result of the hike of Fed policy rate resulting in higher funding cost and some delays in decision making process from customers. Nonetheless, the Group has been optimistic and reap the positive impact especially from the USChina trade war which gives rise the benefit to the Group, thanks to the relocations of Chinese companies to invest in Thailand and Vietnam for curtain industries e.g. automotive, electronics, machinery and, parts and equipments. Currently, we have received strong interests from Chinese customers.

Looking ahead in 2019 and beyond, WHA Group's strategic directions will focus on raising the bar for its core businesses, further embracing innovation and smart technologies, such as Smart IE, Smart Logistics, Smart Grid as well as integrating services to cover all 4 business hubs to deliver the high quality services, for instance, fiber optic services (FTTx), solar rooftop and water solutions delivered directly to customer's facilities, which will integrate between original infrastructure business platform with new technology, to expand our businesses, and this will become materialized from the year 2019 onwards. In addition, the Group also aims to embrace the digital transformation by initiating the use of technology to agile the working system within the organization so as to be more flexible, to reduce redundant work process, and to utilize the limited resources to maximize the Group's efficiency. The Group has continued to develop win-win collaborations with industry leaders, as well as reap the full benefits of Group synergies, embrace the transition into the digital era that will potentially change the entirety of manufacturing and competition.

Finally, on behalf of the Chairman, the Group CEO, the Board of Directors and executives, I would like to thank you all for your support and contribution to our success. I would like to express my gratitude to all shareholders for your trust, all customers for allowing us to serve you, our business partners, financial institutions for supporting our growth, as well as thanks to the Board of Directors, the Executive Committees and all employees for your continued trust, and support to drive the businesses forward and grow sustainably, to create the best value for society, shareholders, customers and all stakeholders.

Ms. Jareeporn Jarukornsakul
Chairman of the Board of Directors & Group CEO
WHA Corporation Public Company Limited