Message from Chairman

Dear Shareholders,

The Company has faced a number of challenges in 2016 as a result of the economic slowdown, household debt problem and stringent loan approval criteria of financial institutions. The aforementioned circumstances drive the Company to review our vision, policy and operation in order to build continuous growth in the coming years. The organizational strategy was also revised and called the “Year of Shift”, categorizing the business operation of the Company into two business groups, namely, real estate development business and service business in relation to real estate. The consequence of the change in business strategy proved satisfactory. The performance of real estate development business started to be on track to recovery. At the same time, the service business related to real estate development of the Company gained interest and confidence from many real estate developers, particularly on community management, community services and comprehensive real estate development consultation service. The Company started providing such services to many other organizations. The valuable knowledge and expertise was passed on and helped generate additional income for the Company successfully.

In 2018, the operational strategy of the Company is established as the “Year of Change”. There will be a number of changes in various aspects including the change in the structure of the Board of Directors and high-ranking executives as well as the change in the management structure. The Company is considering recruiting a Chief Financial Officer and Chief Strategy Officer to strengthen the management team. The Product and Service Research and Development Center will be founded. Furthermore, the Company is planning to employ ISO 14001 (Environmental Management System Standard) and ISO 9001 (Quality Management System Standard) in the service business. All of the above changes are initiated to promote comprehensive integration as the leader of urban residential condominium developer who does not only deliver high-quality products but also great quality of life in “Vibrant Community” to all customers.

I would like to thank the executives, staff, LPN Team and Lumpini Team for your hard work, commitment and patience as well as for fighting hand-in-hand through obstacles in 2017 which is the challenging and difficult year for all of us. In addition, I would also like to extend my gratitude to the government and private sectors, financial institutions and the media for your support and understanding as well as to all shareholders for your trust and confidence in the Company. The changes in 2018 will pose a new challenge that will drive the organization toward development and growth which is built upon corporate governance that is prudent, transparent and auditable. It will also create “Vibrant Community” that delivers the real pleasure of living under “Lumpini” brand to customers in a sustainable manner in the future.

Amornsuk Noparumpa