Page 6 - Anual report STi 2022_eng

Report of the Board of Directors

In the year 2022, the Company continued to operate
the business according to the planned strategies and goals

effectively although it was a year of recovery from the

COVID-19 pandemic and faced the outbreak of COVID-19
Omicron species at the beginning of the year, and the effect

to the Russian-Ukrainian conflict situations that has directly
affected the real estate development cost, for example,

energy price, the rising price of raw materials and construction
materials, thereby affecting confidence in the overall

economic situation of the country, leading to a slowdown in

the real estate sector. However, in the second half of the
year 2022, Russia turned to export fuel oil and steel to the Mr. Jumpol Sumpaopol
Chairman of Board of Director
Asian markets and it was a tendency to export more cheap
steel to be sold in the Asian markets. As a result, the price crisis in Europe, risks of lockdown measures to control the

of construction materials tends to decrease, especially diseases and problems in the real estate sector of China,

the segment of construction materials containing steel, which have pressured the exports of goods and Thailand’s

consequently the real estate companies have still continued tourism sector, Thailand's high inflation driven by commodity
to invest in new projects development. In the second half of prices which have affected the purchasing power of

the same year 2022, it was more bustling. As a result, households and the cost of the Thai business sector. The
the Company’s performance results continued to grow Board of Directors directly monitors the performance results

significantly, partly resulting from the vision and strategies of the Group with the quarterly Board of Directors meeting,

implemented by the Management, fast adjustment and communicating and expressing concern for employees in
conformity to the changing situations as well as careful monitoring and taking care of their health and safety at the

management, especially the management of administrative site in construction projects through the Management

expenses effectively and expansion of customer base regularly, and assigning the executive committee to provide

according to the goals set, consequently that the performance advice and suggestions to the Management in supervising
results of the Group have grown continuously. and monitoring the Company and its subsidiaries, closely

However, the Board of Directors is aware of the negative monitoring the situation and assessing the impact of major

factors and risks that occurred in the year 2022, affecting the risks of the business on monthly basis, adjusting the
recovery of the Thai economy and all sectors such as the management approach and business strategy to be in line

global economy that tends to slow down due to high inflation, with the business environment, analyzing market conditions
higher interest rate, the global central bank policy, energy and competition as well as managing the effective budget

4 Annual Report 2022 (56-1 One Report)