The spread of coronavirus has affected the daily lives of people in society, lifestyle, social and business all over the world. On 18th March 2020, all the cinemas of our group of companies must be temporarily closed, including bowling alleys, karaoke and ice skating rinks under the Emergency Decree on Public Administration in Emergency Situations to control epidemics. Our revenue from all group of companies has decreased significantly. Although all the cinemas and other business have been approved for reopening since 1st June 2020, our business groups are still unable to operate at full capacity. The company's business has faced challenges and has been affected by the economic recession and lower consumer spending. The main factor is the spread of the COVID-19 virus which affected the company’s performance inevitably.
From the above reasons, the Board of Directors and the executives have planned to implement the 3 T strategy (Trading / Thai Movie / Technology). The company has adjusted digital technology which is one of the 3T strategy in order to generate the company’s growth. To modify business operations, the revenue growth has been increased by providing more channels of distribution for popcorn from in front of the cinemas to home delivery via online food delivery or online shopping applications. For promoting "Thai movies" business, especially Thai movies that our group of companies has joint ventures with various partners which has already been proven to be successful such as the movie revenue in the 4th quarter of "E-Riam Sing" which earned more than 200 million baht.
The business operation planning and technology implementation to reduce cost and cost reduction measures make the company the company be able to maintain the stability of accounting liquidity. The appropriate cost management and the attempt to reduce cost in every possible way lead the company to be able to go through this crisis as well as to ensure quality of services and safety when the customer using our services. The company also takes strategic actions consistent with the current world situations that constantly evolving both in terms of technology and consumer behavior.
In order to increase all stakeholders’ confidence, the company has issued hygiene measures in shopping malls and cinemas to help prevent the spread of the COVID-19 virus effectively. In addition, the company focus on the hygiene and safety of our customers by strictly complying with international public health standards with advanced surveillance and safety protection. The company has cleaned and disinfected in all areas as well as intensely enhanced preventive control measures for cleanliness and safety by emphasizing social distancing and step into cashless society by paying through E-Payment system to ensure the confidence in using our services.
Moreover, the company has taken care of society affected by the COVID-19 outbreak by donating N95 face masks and Popcorn To Go to doctors, nurses and medical professional of Bamrasnaradura Infectious Diseases Institute and Ramathibodi Hospital for using while performing duties whose are the country's main force in dealing with the COVID-19 outbreak. The company also endowed revenue from selling popcorn and soft drinks Special Set to support the COVID-1 9 Vaccine Research Center of the Faculty of Medicine Chulalongkorn University. We continuously support various organizations in order to against or prevent the spread of COVID-19. In addition, Major Care Foundation has distributed survival bags to help flood victims who suffered and lack of consumer supplies as well as encouraged the victims who suffered by the flood.
The company intends to comply with good corporate governance as a guideline for conducting business on the basis of sustainable organizational development along with responsibilities to the economy, society, and environment involved under good corporate governance in order to strive and create sustainable value and results. This is to build confidence and acceptance of all stakeholders and to operate sustainable business for long term business growth including to give importance in activities related to social and environmental responsibility along with various projects and activities. In 2020, the company proud to be selected into the list of sustainable stocks (Thailand Sustainability Investment (THSI)) from the Stock Exchange of Thailand.
Lastly, on behalf of the Board of Directors and the executives, I would like to express my gratitude to all customers for using our service, to all employees for the determination, concentration and hard working for the company and to the shareholders, business partners, financial institutions, various departments of the public and private sectors, all stakeholders for the support and trust that you all have consistently given us over the years. I am confident that these collaboration will lead us to overcome this difficult situation very soon.
Chairman of the Board
Chief Executive Officer