Message From Chairman

Message From Chairman

Dear Shareholders

Throughout the past year 2022, Thailand has had to overcome many obstacles and problems, including being recovered from the situations of the COVID-19 epidemic which is still not fully, the situations from increasing energy prices, the fighting between Russia and Ukraine, and the rising inflation around the world. As a result, the economy of many countries has a risk of being a recession. However, Thailand can still generate income from shipping goods to sell to others countries at a record high of 280 billion USD which increased from 2021 to nearly 100 billion USD, according to the disclosed data from the Ministry of Commerce.

Although Thailand’s export trend is expanding, however, it grew at a decreasing rate because the world economy is very uncertain. There is a risk that the economy will enter into a recession and slowdown in the important trading partners with Thailand. In addition, with the fluctuation of the baht currency, all these factors affect Thailand’s export.

However, positive factors still came into Thailand. Since the opening of China, China is Thailand’s second-largest export market after the United States. In addition, political situations in China and geopolitical conflicts have forced many foreign companies in China to move productions based out of the country. Some of them moved to Southeast Asian countries, especially Vietnam and Thailand. Most of the industries moving to Thailand are in the high-tech sectors such as automobiles and parts, electric cars, electronics, petrochemicals, as well as information technology and data centers.

The overall picture of exports tends to grow at a slowdown, which affects the logistics business sectors. WICE Logistics Public Company Limited is still committed to conducting business in accordance with our vision and adjusting our strategies to suit situations by expanding trade routes and investments, building a network of alliances in strategic locations in Asia, and supporting expansions of the movement of goods and services. These also provide a sustainable basis for the future.

In the past, the Company has increased its competitiveness and expanded its partner networks by investing in subsidiaries that are considered the important logistics network to drive business growth in all trade routes. This includes a sub-branch in Ningbo City by WICE Logistics (Hong Kong) Company Limited as well as the main branch and sub-branch in Kuala Lumpur, Johor Bahru, and Penang, by WICE Logistics (Malaysia) Sbn.Bhd., as well as a joint venture company – Euroasia Total Logistics Co.,Ltd., which operates cross-border services. These are to increase business opportunities for the Company in the international markets. With our services, we provide service in cross-border transport between China, Hong Kong, and Southeast Asia in the latest cross-border transport route model with the Laos-China railway connection for the convenience of transportation, reducing products stuck at customs, and connecting China’s One Belt One Road, which is a highlight and an important driver of China’s trade in the future. It is also listed on the Market for Alternative Investment (MAI) in 2022.

The Company is committed to operating our business according to its mission. It is to drive a Thai logistics company to become an international logistics services and solutions provider in Asia. The Company has connected with partners in many countries to build the WICE brand to be known internationally. We will continuously continue to expand our network to important commercial cities.

Finally, on behalf of the Board of Directors of WICE Logistics Public Company Limited, we would like to thank you all stakeholders for trusting in our business operations and always support the Company. We are committed to operating the business under the principles of good governance along with the good corporate governance with transparency, accuracy, and fairness. We focus on developing our organization towards sustainability by paying attention to every components in order to create a balance between all stakeholders including the shareholders, the business partners, the society, the communities, and the environment and the employees to jointly in creating our performance to grow together. We would like to take this opportunity to thank you all executives and all employees for their cooperation in working with diligence and responsibility. This is an important part in strengthening the Company’s operations and making the Company stable and grow sustainably in accordance with our goals.