Dear Shareholders,
Pruchya Piumsomboon, Ph.D., P.E.
Chairman of the Board of Directors
Another time when CHOW Steel Industries PCL has established an excellent portfolio in the year 2022. Our turnover significantly increased in response to the economic situation, which is still suffering from the Covid-19 pandemic. Expansion and development of existing business to advance the growth and yield satisfying income, plus business operation that follows the new direction set forth flourishes the leaping prosperity of our corporation which is founded on the honesty, corporate governance and sustainable development, taking into discretion benefits of all stakeholders as well as taking responsibility to society and environment.
CHOW Steel Industries PCL passed the year 2022 with a prominent production. The net profit from investment in the energy business oversea reached THB 1,165.74 million, and the investment income from investment in 2022 was recognized over THB 1,425 million thanks to the prudent strategy implemented to yield rapid profit and worth the investment.
Moreover, our successful achievement is also contributed by the expanded investment in solar power plants in Thailand during the time when electricity costs were rising. We have also added a new unit to our steel business to trade steel products on a local and international scale. With due knowledge and expertise accumulated in the steel industry for over 20 years, CHOW strived to append profit from this new business unit. For our existing business, fabrication by orders received more orders in terms of productivity and product types, including the ready-made steel products added to the production line in 2022.
For the corporate governance, CHOW Steel Industries PCL carried on our adherence to the approach of business growth in coupling with the integrity, corporate governance and sustainable development, contemplating benefits of all stakeholders as a priority as well as the responsibility to society and the environment. In 2022, CHOW Steel Industries PCL Group has implemented the concept of sustainable corporate development, ESG, which prioritizes the three-major responsibilities namely Environment, Society, and Corporate Governance as an intensive approach to business operation to nourish the growth as well as to promote sustainable corporate development.
Contributed by these sincere efforts our commitment to conduct business with adherence to corporate governance and the sustainable development idea from various entities, CHOW Steel Industries PCL received the Transparent Organization from the NACC Integrity Awards 10th by the National Anti-Corruption Commission (NACC). CHOW Energy PCL, a subsidiary that conducts alternative energy business, received its first honorable award for Transparent Organization, Outstanding Award for Sustainable Organization Model of Thai Market, regarding Support to the person with disabilities 2022 from the Securities and Exchange Commission or SEC. Moreover, the company received a full 100 points from the rating of General Meeting of shareholders 2022 and received a Very Good or 4 Start rating from the Corporate Governance Survey of Thai Listed Companies or CGR for the year 2022. Our successful milestones are from the groundwork of all parties.
On this occasion, on behalf of the Board of Directors, executives and all employees, I thank our shareholders, business alliance for your consistent trust and support in our business operation. We are obliged to conduct business under the good corporate governance, corporate ethics to bring about the utmost benefits to all stakeholders, including the environmental care. Our goal is to expand business, provide stable return and sustain business growth for the Company Group, as well as to carry on the sustainability to the Thai society.