In 2020, the growth rate of the global economy, including Thailand, shrank negatively due to the impact of the COVID-19 outbreak affecting many businesses, including tourism business, real estate business, etc. The Company’s overall sales have been slightly affected. Although the sales of high-rise projects decreased, the sales of low-rise projects increased from the year 2019. The ownership transfer was somewhat affected since the ability to apply for home loans of customers who operated businesses affected by the COVID-19 outbreak decreased and foreign customers were unable to transfer ownership of high-rise building projects.
According to such impact, the Company emphasizes on the importance of different designs to meet the needs of residents at all ages and genders in the Universal Design style. It aims to offer a comfortable, cost-effective, livable, and safe house that is known as "good home" for all customers in all projects. The Company has been doing these for a long time by increasing the living space and adjusting the practical functionality, especially the high-rise building projects. The Company applies this design approach as the basis of design for all projects which are consistent with the needs of customers in the New Normal. This year the Company develops an application platform "Supalai Sabai" that completely meets the needs of customers from the start to the end.
Previously, the Company Group had the management by diversifying the risks. It offered low-rise projects and high-rise buildings to all customer groups in Bangkok and its vicinity, including major cities in other provinces nationwide, totaling around 200 projects and international projects. This is to diversify risks and increases growth potential. The Company had satisfactory domestic and international performances in the past with the average cost of only 1.94%, which showed its financial strength. The Company was still rated by TRIS Rating at A/Stable level because the Company has the policy to strengthen its financial position, expand the business, and purchase lands without any financial restrictions.
In 2020, the Company received several honorable awards from many leading organizations, which was a proof of its credibility, such as Thailand Top Company Awards 2020, FIABCI-Thai Prix D' Excellence Awards, Asia Pacific Property Award granted to organizations with excellent performance through continuous product development, Thailand Sustainability Investment for the 6th consecutive year from the Stock Exchange of Thailand, Outstanding Establishment on Labor Relations and Welfare 2020 for the 3rd consecutive year at the national level from the Department of Labor Protection and Welfare, Ministry of Labor, being ranked in the "Excellent" category for the 8th consecutive year based on the survey results of the Good Corporate Governance of Listed Companies in 2020 by Thai Institute of Directors Association, achieving a full score of 100% from the quality assessment of the 2019 AGM Checklist by the Thai Investors Association for the 9th consecutive year.
In 2021, it will be a New High year in many aspects, including sales, ownership transfers, and values of 31 new project launches of 34,000 million baht, which cover Bangkok and its vicinity, and other provinces.
Over a period of more than 30 years, the Company Group has adhered and emphasized on sustainable business operations by focusing on creating an appropriate balance in three dimensions, including economy, society and environment, based on the good corporate governance principles and risk management, creating better quality of life for people in society with corporate social responsibility (CSR) towards sustainable development according to the Sustainable Development Goals process (SDGs), continuously creating housing innovations and developing societies in various ways in terms of activities regarding knowledge provision, family, education, health, environment and art and culture. The Company continues adhering to ethical principles and legality while developing its business partners to cover good principles in the supply chain in order to create benefits to all stakeholders, including the society, and move Supalai forward with the stable growth.
Chairman of the Board of Directors
Supalai Public Company Limited