MESSAGE FROM CHAIRMAN
The past year 2024 was another successful year for MALEE, with strong operating performance growth amid a challenging and opportunistic business environment. This is a result of building a strong business foundation. Meanwhile, the overall economic picture in the past year has expanded due to supporting factors such as government economic stimulus, strong export growth, and an increase in tourist arrivals. Despite the challenges affecting economic growth in terms of interest rates, inflation, and geopolitical issues.
The Board of Directors has placed importance on setting corporate strategies that align with the business context and enhance competitiveness. The focus is on creating a balance between operating results and risk management and good corporate governance. This enables the business to respond to changing business environments and grow sustainably, taking into account responsibility to all stakeholders.
As a result of its good corporate governance practices, in 2024, the company received a 5-star rating, or excellent level, for the sixth consecutive year in the Corporate Governance Assessment of Thai Listed Companies, as assessed by the Thai Institute of Directors Association (IOD). The company also received a perfect score of 100 from the Thai Investors Association for the quality of its 2024 Annual General Meeting of Shareholders.
On the financial front, in 2024, performance improved in terms of both revenue and profit. The company’s total revenue grew by 7% to 8.5 billion baht, and profit grew by 285% to 308 million baht, a significant increase over the past several years. This demonstrates the company’s strength and adaptability, and creates an opportunity to resume dividend payments to shareholders for the first time in 7 years. This is in line with the company’s plan to focus on growth in both its own brand business and contract manufacturing, both domestically and internationally, by expanding market share and increasing the number of customers, expanding marketing channels, and focusing on marketing activities that reach more consumers both domestically and internationally. In addition, efficient cost management has helped to increase profitability.
MALEE has adapted to align with sustainable development guidelines. This includes reducing environmental impact and conducting socially responsible business through projects such as the use of solar energy at the Samphran factory, as well as reducing resource consumption. The company is committed to initiating more sustainability-focused projects to ensure that the company is committed to and dedicated to sustainable development in all dimensions, including environmental, social, and governance aspects, to create sustainable growth for shareholders.
In the past year, the company has faced many challenges. However, with the cooperation of everyone, the company has managed to increase efficiency and reduce operating costs to manage the impact of the economic situation on an ongoing basis. On behalf of the Board of Directors and management, I would like to thank our shareholders, employees, customers, and business partners for their continued support and cooperation in the company’s business. Your trust and cooperation are essential to the company’s growth, and I would like to express my appreciation to the company’s management team for their dedication and commitment to conducting business under good corporate governance, along with creating sustainable value with social and environmental responsibility. In the future, the company will continue to focus on business development and sustainable growth in order to be a leader in the industry and create benefits for society.
Mrs. Chintana Boonyarat
Chairman of the Board of Directors, Malee Group Public Company Limited
