Message from the Board of Directors

Year 2016 was the year that all Thai people suffered from the greatest loss after the announcement of the passing of His Majesty King Bhumibol Adulyadej by the Royal Household Bureau on October 13, 2016. With eternal respect and gratitude to His Majesty King Bhumibol Adulyadej, Jubilee Enterprise Public Company Limited (“the Company”) pledges to fulfil his majesty the king’s vision and follow with the royal footstep. The Board of Directors, the Management, and the Company’s staff humbly offer our utmost respect and best wishes to His Majesty King Maha Vajiralongkorn Bodindradebayavarangkun. Long live his majesty the king.

Thailand’s economic growth in 2016 remained slowly improved, while certain of consumer segments still postponed the purchase. However, the Company has still expanded its business in accordance with the Company’s business plan by focusing on the development of product quality and modern product designs to meet the customers’ expectations as well as excellent quality of services, which have created the reliabilities to customers throughout the Jubilee Diamond Brand. In 2016, the Company has signed the agreement with Forevermark as a Sole Authorised Forevermark Jeweller in Thailand. The Company had a grand opening for the first Forevermark branch in Thailand at Siam Paragon. Forevermark is a wholly-owned subsidiary by the De Beers Group of Companies, leveraging 125 years of diamond expertise. Forevermark is recognized globally for its quality and grading standards. With the Company’s improvement of the inventory management, particularly for the main raw material cost, and the management of sales mix in each product category efficiently, the Company’s performance 2016 reported net profit of Baht 157.28 million, increased from year 2015 by Baht 26.16 million or 19.95 percent.

Another pride of the year 2016, the Company was awarded a National Innovation Awards 2016 – Innovative Organization in Service Section from National Innovation Agency with collaboration of the Stock Exchange of Thailand, Market for Alternative Investment and College of Management Mahidol University. The Company was being the only one in the retail business group obtaining this award. This accounts for benchmark of success of innovation organization.

The Board of Directors would like to express our gratitude to shareholders, customers, business partners, colleagues and the relevant stakeholders including the financial institutions assisting us continually. In this regard, we may ask you to entrust that we would carry on the business with vigilance and due diligence; adhere to the code of ethics, good governance and sustainable development to maximize the benefit to all relevant parties; and to realize the importance of community, society and environment to go forward together with Thailand.

Manu Leopairote
Chairman of the Board of Directors
Viroj Phonprakit
Chairman of Executive Committee