Mr. Chansin Treenuchagron
Chairman



Dear Shareholders

The Board of Directors has defined the vision for IRPC to be the “Leading Integrated Petrochemical Complex in Asia by 2020” and formulated corporate strategic plans for the short term and the long term to ensure its growth in line with the devised direction and plans to achieve the ultimate goal within the specified timeframe.

2018 marked another year of IRPC’s strength to firmly put its feet on the energy and petrochemical path amid economic volatility and decreasing oil prices, with EBITDA of THB 18.344 billion and a net profit of THB 7.735 billion. The achievement resulted partly from the implementation of projects under the development strategy to improve performance efficiency, process improvement, including organizational management to incessantly move forward in all aspects–HR development, production, innovation, new investment projects, financial management, and becoming a leading digital company that conducts business in a social, community and environmentally responsible manner in line with the 3Ps principles (People, Planet and Prosperity). The success was a result of accurate forecast, continual preparedness, and the competency, commitment and dedication of the management and employees in efficiently managing and conducting the business under the supervision of the Board and its four committees.


" 2018 marked another year of IRPC’s strength to firmly put its feet on the energy and petrochemical path amid economic volatility and decreasing oil prices, with EBITDA of THB 18.344 billion and a net profit of THB 7.735 billion. The achievement resulted partly from the implementation of projects under the development strategy."


The Board is pleased and honor to inform our shareholders that, in addition to our business achievements, IRPC has been recognized by domestic as well as international accredited organizations and institutions with numerous awards of honor in various fields. In particular this year, IRPC was ranked World Leader of the Oil & Gas Refining & Marketing Industry by DJSI (Dow Jones Sustainability Indices) and retained its membership for the fifth consecutive year. In addition, IRPC was ranked in a “Gold Class” in The Sustainability Yearbook 2019 and The Industry Mover with the highest score, and highest score improvement from the previous year. The ranking should ensure shareholders that IRPC is committed to conducting business with continuous development, transparent information disclosure, and a focus on internal control and anti-corruption, while exerting its potential and readiness to become a world-leading sustainable organization.

Moreover, in 2018, the Board put its full efforts in performing its roles for the utmost benefit of the company. The Board, jointly with the management, assisted in the development and problem-solving, ensured sufficiency of risk management with proper auditing, and conducted business under good corporate governance, social responsibility, fairness to all stakeholders, and respect for human rights. It also supported IRPC to become a learning organization, promoted innovation, and created a new business model with emphasis on R&D with a conviction that they are the foundation for IRPC to leap forward and contribute to essential business value creation. Directions for corporate growth was regularly defined through prudent strategic analysis covering all related factors and impacts so as to achieve concrete success for IRPC.

On behalf of the Board of Directors, I would like to express my heartfelt appreciation to everyone for their confidence in, support to, and cooperation with IRPC through the years–the shareholders, customers, business partners, government agencies, academicians, financial institutions, communities, the media, independent organizations, and to the President, executives and employees of IRPC and its affiliates for their remarkable performance, which have contributed to our great success this year. On January 30, 2019 Mr. Sukrit Surabotsopon will complete his term as President, and the Board has appointed Mr. Noppadol Pinsupa as the new President with effect from February 1, 2019. Thanks to the potential of our executives and employees, equipped with cutting-edge operating systems, I believe that IRPC will grow from strength to strength in the right directions with its business and organization health and will become a corporate governance organization with social responsibility and corporate citizenship. The success will doubtlessly multiply value addition for the shareholders and returns for stakeholders and Thailand.