Message from the Board of Directors​

The Thai economy in 2025 continued to face headwinds characterized by sluggish growth and a slowdown in the tourism sector, including trade wars and geopolitical tensions, which impacted competitiveness and elevated business costs. Simultaneously, the real estate sector remained under pressure from weakened purchasing power, high household debt levels, and stringent lending criteria, leading to a contraction in demand for construction materials.

In response to this evolving business landscape, the Board of Directors and Executive Management have recalibrated both our short-term and long-term strategies, while enhancing our risk management frameworks. This has enabled us to solidify our business fundamentals and position the Company to capture emerging opportunities with a forward-looking vision.

The year 2026 presents a landscape of diverse challenges, shaped by ongoing uncertainties in the global economy and the real estate sector. We are witnessing a rapid technological shift toward Artificial Intelligence (AI) alongside an intensified focus on Environmental, Social, and Governance (ESG) standards, which are driving more stringent regulatory requirements. The Board of Directors remains committed to closely overseeing the Company’s strategies in both technological adaptation and corporate sustainability. Our goal is to ensure that TOA not only achieves robust business growth but also delivers sustainable value to our shareholders, society, and the environment.

In closing, we would like to express sincere gratitude to our shareholders, business partners, financial institutions, and all stakeholders for their continued trust and support. Most importantly, we want to thank our management team and every employee whose dedication and hard work have been the driving force behind our success and the achievement of our goals throughout the past year.