Message from the Chairman

It is my great pleasure to inform that 2018 was another year of good achievements for Nirvana Daii Public Company Limited (“NVD”). In our second year as a publicly listed merged entity , NVD delivered another respectable earnings growth while fundamental improvements have also been achieved. The Board continued to assert great emphasis on building a strong foundation to groom and grow NVD as a reputable and sustainable hybrid property developer.

Respectable Earnings Growth

In our context, being a hybrid property developer means our business model needs to ensure earnings stability while delivering growth. Although the current portfolio is not yet sufficiently diverse to stabilize growth in the quarterly results; but on the annual basis, NVD was able to post the consolidated net profit growth of about 52% in 2018, following a growth rate in excess of 300% achieved in the prior year. Our strategic direction, in creating multiple revenue streams to sustain “Quality of Growth,” has proven, not only to provide earnings stability, but also deliver healthy growth for the entire year.

Greater Playing Field

As a self-challenge, NVD petitioned and was approved in May 2018 to move from the Market for Alternative Investment (“MAI”) to being listed and traded on the main bourse of the Stock Exchange of Thailand (“SET”). That marked our beginning of being in a greater playing field measuring NVD, a relatively younger company, against the older and larger property developers. Nonetheless, we are determined to drive NVD to be among the top players of the industry.

Good Governance for Sustainable Growth

For 2017, emphasis was placed on improving NVD’s foundation through more efficient business processes, adequate risk management, and internal control system. In 2018, we took further efforts to ensure that the system of rules, practices and processes are properly balanced in the best interests of NVD's all stakeholders. The main objective was to put NVD on a strong fundamental to achieve its corporate mission-vision. As a result, NVD was enlisted by the Thai Institute of Directors Association (“IOD”) among the top-ranking companies having Excellent Corporate Governance with an average score of 92% on IOD’s Corporate Governance Report of Thai Listed Companies 2018.

The Board of Directors is as always grateful of all stakeholders – shareholders, trade partners, financial institutions, public and private entities, mass media, and all customers – for continued trusts and supports. While NVD is on track to achieve its business goal in the near future, please rest assured that the company will also remain committed to good corporate governance for your best interests.

Sutthichai Sungkamanee