Dear Shareholders
In the past year, the economic growth of many countries has slowed down as a result of tightening monetary policy to tackle high inflation. Thus, the interest rate was inevitably lifted and affected the purchasing power of consumers. The business operation also encountered various challenges in driving business such as the rise of geopolitical risk, illegal pork smuggling from abroad, the fall of vegetable oil prices especially palm oil, and the impact of climate change.
Among these challenging factors, TVO has continuously monitored and evaluated the risks and impacts as well as developed its business operations and strategies according to the change in consumer behavior. Simultaneously, TVO stepped up to take responsibility for environmental, social, and governance (ESG), striving to create sustainable benefits for all stakeholders. Also, TVO emphasized fulfilling potential through the production process to create value for all stakeholders, which included raw material sourcing, standardized production, and delivering products to consumers to provide a good quality of life for communities, workers, consumers along with taking care of the environment.
TVO remains committed to its mission of sustainability, which is integrated into every area of its business operations with consideration for social and environmental responsibility and all stakeholders in order to create good governance and sustainable growth. As a result, TVO received an evaluation score of listed companies with corporate governance at a level of 5 stars or “Excellent” CGR scoring in 2023 and was ranked an AA rating for the 7th consecutive year by SET ESG Rating, previously known as Thailand Sustainability Investment (THSI). Also, TVO was ranked in ESG100 for the 8th consecutive year by Thaipat Institute.
On behalf of the Board of Directors, I would like to thank all who have supported TVO, the shareholders, customers, trading partners, financial institutions, business partners, government agencies, consumers, the public, and the media, for placing your trust in TVO’s Board of Directors and Executives. TVO pledges to you our commitment to always working to achieve decent returns for our shareholders and society in a continued and sustainable manner.
