Message from Chairman of Corporate Governance and Sustainable Development Committee and Chief Executive Officer
The COVID-19 pandemic has persisted for the second year now, forcing both the public and private sectors as well as the civil society to further adapt to the “now normal” throughout 2021. During the year, Singha Estate modified its business strategy to move forward amid the turmoil. Concurrent to achieving its balanced business growth, the Company reached out to provide more support to the Thai society in the time of challenges.
Singha Estate joined hand with the Social Security Office to allocate a section at its office building for public service i.e., a vaccination corner for employees of tenants who are insured persons under the social security law as well as the public, aiming to accelerate the vaccination rate and to offer enhanced accessibility for people. In this regard, the occupational health measure of Singha Estate was imposed in compliance with the standards of the Department of Disease Control, the Ministry of Public Health, to ensure strict adherence of building occupants and visitors and to strengthen the confidence of all stakeholders. Meanwhile, the Company lent a hand to food shop tenants throughout the year through a continuous stream of ordering of take-away meals from their shops to be delivered to the medical personnel and care providers as well as patients at field hospitals in Bangkok, with an aim to provide comfort for both their body and mind with the freshly-cooked food. We understood how these tenants have endured hardship from the plunging traffic of building users during the pandemic due to the work-from-home policy of various companies. Thus, not only we helped eased their cashflow issue with our consistent purchases, but we also kept boosting their business visibility, which could support them to stay afloat in a long run. Singha Estate ensured that all voices were heard, especially those of customers, suppliers, and the community; and collaboration was made with partners and stakeholders to minimize any impact and to mutually overcome any obstacles, which was in alignment with our vision to be “Entrusted and Value Enricher.”
Singha Estate recorded the year 2021 as a milestone year where its building blocks were rearranged for sustainable development. The Company achieved synergy within the value chain in accordance with its 5-year sustainable development roadmap (2021-2025). This was the year where the “Supplier Code of Conduct” was introduced as the guideline for practice for suppliers in line with the standard of Singha Estate. The Company also joined force with stakeholders in the same industry through the Circular Economy in Construction Industry (CECI) to ensure optimal management of construction debris according to the SDG 12: Sustainable consumption and production.
In 2021, Singha Estate joined the Global Compact Network Thailand (GCNT)--the largest sustainability network established by the United Nations. The Company, along with the GCNT members, declared the intention for prevention and correction of climate change issue, the launch of measures for the greenhouse gas emission management as well as reduction, and the pledge of net zero emission commitment within the year 2050. The action bespoke our determination on environmental engagement and synergy with all stakeholders; and this collaboration was forged for a stronger lever of success.
The Company spent the year reinforcing its business foundation for the property development business, with a sharp focus on expansion of its residential portfolio as well as the extension to its latest venture i.e., the industrial estate and infrastructure portfolio.
Land preparation is an essential process of real estate project development. At Singha Estate, it is equally important that we preserve the natural abundance and biodiversity of each piece of land, including savaging perennial trees by integrating them into the master design, or carefully move and replant them in a safer and proper area.
Perennial tree conservation has been the long-standing practice of Singha Estate. However, 2021 was the first year we introduced the perennial tree registration of the plants under our care. This latest movement formed part of the Company’s various measures to minimize the impact from the climate change; and it is the living testament of our unwavering goal to save as many big trees as possible in all land development projects. We hope it could inspire other sectors to follow suit, which will foster the unity of action to counter the climate change issue.
The industrial estate and infrastructure business was the latest growth of Singha Estate, echoing its vision to engage in the business following the harmonious co-existence philosophy and sustainable development. The Company opted for a green technology i.e., the co-generation power plant, for the S Angthong Industrial Estate. The eco-friendly tech of the Company would attract and encourage potential tenants as it enables a greener operation for their upstream business. It also enhances the energy security, which is vital to the progress of the nation as well as the strengthened competitiveness of the private sector, leading to the genuine sustainability. The year 2022 is dedicated to the establishment of an eco-industrial estate.
Albeit shifting the stress to the impact on cities and residential business; Singha Estate continued its care for the sea and marine biodiversity. The SeaYouTomorrow: Tomorrow’s Sea is in Your Hands initiative has been carried out for the 4th year in collaboration with a subsidiary, S Hotels and Resorts Public Company Limited (SHR), whose business is actively involved with the sea and marine natural resources. In 2021, Singha Estate cooperated with the Phuket Marine Biological Center under governance of the Department of Marine and Coastal Resources, and the Department of National Parks, Wildlife and Plant Conservation to launch the SOS: Save Our Shark project. An office was set up at the Marine Discovery Centre (MDC) of the SAii Phi Phi Island Village to initiate the program with a study and nursing of the “brownbanded-bamboo shark.” In this connection, Singha Estate, on behalf of the private sector, is determined to share its area of operation for the research and study beneficial to shark conservation, which could facilitate an increase of brownbanded-bamboo shark population and serve as symbol to raise awareness on rare species conservation. The program aimed to provide a learning space for youth as well as community members, and to build the balance of nature, which was in accordance with the annual plan and the long-term goal of the Company to provide the source of learning, to create understanding, and to engage with all stakeholders.
Our resolute commitment to achieve the equilibrium of business, quality society, and sustainable environmental care was recognized as Singha Estate was listed on the Thailand Sustainability Investment (THSI) rating for the 3rd consecutive year. It was also a 3-year streak that the Company secured the 5-star rating from the Corporate Governance Report (CGR) assessment. Moreover, we were honored to receive the Active Participation Award in recognition of the Vibhavadhi Zero Waste project, which witnessed the continual and solid synergy as well as dedication for waste management of all parties to the network and concrete contribution to the sustainable social progress.
Singha Estate hereby anchors its affirmation to deliver a refined value while sustaining the equilibrium of the economy, society, and environment. The Company places priority on securing trust of stakeholders while enriching lives and tomorrow-- the legacy to be passed to the next generations.
