MESSAGE FROM
Chairman and Chief Executive Officer

On behalf of the Board of Directors of Siamrajathanee Public Company Limited, we would like to inform shareholders that the Company has operated the business in accordance with all objectives in the year 2024, including operating performance, business growth, good corporate governance, risk management and sustainable development.

In the year 2024, the Company’s revenues were Baht 2,581.36 million, an increase from the year 2023 with revenues of Baht 2,382.47 million. There was a net profit of Baht 153.02 million.       

There was a total of five board of directors’ meetings to consider adjustments of the organizational structure to create clear and more efficient management. The management structure is divided into four main parts,  Outsource 1 , Outsource 2 , Technology and General Affairs. to ensure that the responsible persons are assigned according to the structure and management are more appropriate and efficient, and continuous development of executives according to succession plan. Since the Company operates personnel recruitment business, we must possess knowledge and always keep up to date with development and changes in personnel management at the international level. The Company has organized training to provide knowledge to directors and executives regularly. This presents many additional challenges for today’s business executives.

The year 2024 was a year in which the world faces new challenges, including global conflicts, climate change, and the coming of new technology. Population structure and the mismatch between labor skills and market demand results in business operators being required to adapt and continuously develop to maintain competitiveness, especially organizational restructuring and the use of technology to replace some processes based on the Company’s internal information. Many clients are shifting from outsourcing their services to finding partners to co-design their processes. Outsourcing is used as an internal department that reduces the organization’s burden on manpower and risk management.

When it comes to organizational change, many might imagine minor adjustments with little impact. However, at SO, our transformation has been nothing short of a revolution in both our philosophy and work practices, which has earned us the prestigious “The Most Corporate Transformation” award. We Empower Brand by educating clients that outsourcing is more than delegating tasks—it’s about gaining a strategic partner. We Empower Sale by shifting from selling services to providing consultative support that truly understands and solves client challenges. We Empower Operation by integrating technology and AI to enhance efficiency and responsiveness. This transformation is not just about internal improvements but about pioneering a new way of delivering value, strengthening partnerships, and driving business success in the digital age.

In addition, the Company has achieved its goal of making a commitment with the Stock Exchange of Thailand to join the ESG DNA project, a set of sustainability knowledge for personnel at all levels in the organization, and has become a sustainable stock in the SET ESG Ratings for 2024 at the BBB level, which is the first year the Company has participated in the assessment.

Over the past year, the company has participated in the Cyber Security Resilience Program by the Stock Exchange of Thailand (SET) a program designed to assess the cybersecurity maturity of publicly listed companies. The evaluation results clearly reflect the company’s strong commitment to cybersecurity excellence. The Company achieved a NIST Function Average Rating of 2.41, surpassing both the industry average and the national average of 1.91. This accomplishment highlights the company’s dedication to reinforcing its cybersecurity framework beyond standard benchmarks, ensuring a robust and resilient security posture.

Additionally, the company received an impressive Security Summary Report Score of 90 from SecurityScorecard, a globally cybersecurity rating organization. This outstanding score serves as a testament to the company’s unwavering commitment to continuously enhancing and fortifying its information security systems ensuring stability, resilience, and preparedness against evolving cyber threats.

Miss Kanthima Jangwansook  Chief Executive Officer , Revealed the 2025 plan, the company aims to grow 10-13% per year, with a target to increase the backlog from 1,556 million baht in 2023 to 2,226 million baht by 2025, as the company moves forward with organizational transformation and has a 90% customer retention rate.

The company focuses on being a Solution Partner to provide solutions that help reduce the operational burden of customers and a Strategic Partner that helps develop strategies to increase efficiency and business agility by focusing on expanding the customer base in potential business groups and develop new services that meet market demands. The company emphasizes the importance of “people” and “technology” by focusing on developing personnel to have knowledge and skills and using modern technology in operations to increase efficiency and create competitive advantages.

SO aims to be a reliable partner by providing high standard services, accurately controlling the results, and expanding the business at every opportunity under the principles of Reliable, Predictable, and Scalable. The main services include Valet Parking and Reception for shopping malls, hospitals, and hotels. with a high standard training system, new strategies help create new deals, especially providing Valet Parking services to new shopping centers. Customer groups place importance on image and high standards. There are complete support services such as: consulting, recruitment, training, operations and tracking technology, targeting a Premium Market Size of over 100 million baht with a growth rate of over 10%.

The company also provides Digital Authority and Workflow Solutions using OCR+AI and E-Workflow for banking, insurance, and hospital groups, including the petrochemical industry. The insurance market value is expected to grow more than 2 billion baht in 3 years with LLM+AI technology and has FLOW solutions to increase efficiency in the petrochemical group.

The company also provides Digital Authority and Workflow Solutions using OCR+AI and E-Workflow for banking, insurance, hospitals, and petrochemical industries. The insurance market value is expected to grow to over 2 billion baht in 3 years with LLM+AI technology and FLOW solutions to increase efficiency in the petrochemical group. In addition, the automotive business has commercial vehicle management and increased the number of vehicles by more than 700, or grew by more than 13.26%. In terms of Landscape Management, it provides landscape care services for large projects using a quality control system consisting of 9 main steps. It covers everything from training, inspection and evaluation, and is operated by a team of specialized experts such as Consultants, Arborists, Operations and LABs. The business emphasizes reliability, predictability and can be expanded (Scalable) to meet the needs of premium customers who value standards and image, with a target of a Premium Market Size of more than 660 million baht and an expected growth of more than 10.97%.

By preparing the Company’s readiness in every aspect and giving importance to modern technology, the Company will grow and progress according to its vision and certainly create benefits for shareholders and all groups of stakeholders. The Board of Directors wishes to express gratitude to shareholders, employees, customers, trade partners, media, and business partners and all those involved. We will conduct our business to the best of our abilities based on good corporate governance and sustainable development.