Company Profile

Company Information

Company Information

 

  1. General Information of East Coast Furnitech Public Company Limited

 

SubjectDetails
Company’s name in Thai:บริษัท อีสต์โคสท์เฟอร์นิเทค จำกัด (มหาชน)
Company’s name in English:East Coast Furnitech Public Company Limited (ECF)
Date of registration:October 12, 1999 as the Limited Company
Later as of October 18, 2012, the Company has registered and transformed into Public Company Limited and changed the name to East Coast Furnitech Public Company Limited (ECF)
Registered company/ TAX ID:0107555000449
Securities Symbol:ECF
Type of business:A manufacturer and distributor of furniture made of particle board and rubber wood, foil paper for using as a raw material for furniture manufacturing, a manufacturer and distributor of dried rubber wood, a distributor of furniture by the branches of showrooms, and the service in cutting of pasting edge (PVC)
Registered Capital:312,462,090.75 Baht
Paid-up Capital:239,871,889.25 Baht
Head Office Location:37/9 Moo 10 Banbueng – Klaeng Road, Thang Kwian Subdistrict, Klaeng District, Rayong Province 21110
Branch Office Location
Branch 1:No. 29/1 Moo 3 Soi Chongko – Chunmnumnai Wang Chan Subdistrict, Wang Chan District, Rayong Province, this branch is used as a factory for furniture manufacturing and assembly, sawmill for rubber wood and dried rubber wood, and production of foil paper using as a raw material furniture manufacturing
Branch 2:No. 25/28 Moo 12, Bueng Kham Phroi Subdistrict, Lam Luk Ka District, Pathum Thani Province, this branch is used as a general management division and a warehouse
Telephone Number:+66 (0) 38-886-372-4 , (0) 2-152-7301-4
Fax Number:+66 (0) 38-678-220 , (0) 2-152-7305
Home Page:www.eastcoast.co.th, www.elegathai.com

Message from the chairman

33

As the Company’s Chairman of the Board and a member of Audit Committee on behalf of East Coast Furnitech Public Company Limited, its subsidiaries and joint ventures (“The Company”), I would like to inform all stakeholders that we are committed to operate our business under the principles of good corporate governance with the objective to lead the organization to a sustainable development. Based on the Company’s intended objectives, we have continuously improved its corporate governance practices, in 2019, we were ranked as one of 5-star companies in the survey under listed in the group of listed companies with an excellent rating or 5 stars, which is a survey based on the Corporate Governance Report of Thailand Listed Companies 2019 arranged by the Thai Institute of Directors, reflecting our past performance that the Company is committed to conduct the business in a transparent and verifiable manner. In addition, the Company emphasizes the importance on the sustainable business development with the focus on the operation development in terms of economy, society and environment in order to equally balance all groups of stakeholders.

 

On behalf of the Board of Directors, I would like to express our gratitude to all management and employees for collaboration with the commitment, effort, initiative and discipline in developing the Company to grow further. We are appreciated by the supports from shareholders, customers, partners and those who have always well supported the Company’s operations. Everyone is our important person who helps in driving the Company’s business and we sincerely hope to be provided of good cooperation by everyone like this forever.

 

On this favorable occasion, wishing everyone and family happiness, prosperity, advancement and wealth including achievement in all desired things and matters.

 

On Behalf of the Board of Directors

East Coast Furnitech Public Co., Ltd

 

 

General Therdsak Marom
Chairman of the Company

Message from chairman of Executive Directors

22

Year 2019 is considered as another year of high challenges because it is known that the World’s economic situation and our country’s economic condition have been entering the period of growth slowdown, causing various businesses to be affected, including the Company’s furniture manufacturing and distribution business. However, the Company’s directors and management have not refrained from actions to the said situation, all parties have been working together to overcome this obstacle problem to successfully go through, the management performance reflects its result that our business can survive and has generated satisfactory profits in the midst of various instable situations caused by external factors. In addition, our company is in the period of studying the feasibility of other businesses other than our main business in furniture manufacturing and distribution with the objectives to distribute the risk of business operation, to have more than one source of income for the Company. The Board of Executive Directors hopes that the new businesses that are going to happen in the future will be another part to strengthen the Company’s financial status, create stable income for the Company in order to generate good returns for all groups of stakeholders in a satisfactory manner.

 

Last but not least, as a representative of the Board of Executive Directors, we will adhere to operate our business in accordance with the principles of good corporate governance, realize to generate good and beneficial returns for all groups of stakeholders of the Company and for the Company’s development to step towards with sustainability in the future.

 

Thank you very much.

 

 

Mr.Wanlop Suksawad
Chairman of the Executive Directors

Message from Managing Director

11

In 2019, ECF’s revenue was from the manufacturing and distribution business of particle board and rubber wood furniture by export and domestic sale and the Company’s main foreign customers are Japanese. However, during the 4th Quarter, the Company could penetrate into the customer groups in India and the Middle East. From now on, the Company will have chances to continuously obtain more orders from these new customer groups in the future due to the growth potential of these big customer groups.

 

For renewable energy business that the Company has invested through our subsidiary company, ECF Power Company Limited, at present, in addition to the biomass power plant project with a capacity of 7.5 megawatts in the southern region and the biomass gasification power plant with a capacity of 1 megawatt located in Long District, Phrae Province, they could launch the commercial sale. In 2019, the Company is pleased that the solar power plant project in Minbu City, Myanmar could start commercial sale of electricity for Phase 1, with a capacity of 50 megawatts from a total of 220 megawatts since 27 September 2019 onwards. The project has planned to accelerate the construction for the remaining phase 2, 3 and 4 to be completed as soon as possible in order to accelerate revenue recognition further, and management is also committed to develop the renewable energy business to continuously grow as well.

 

As for the Company’s performance in the 2019, we could generate total revenue of 1,290.90 Million Baht and the Company profit was 40.29 Million Baht by increasing from the last  year 19.33%, which resulted from a policy of costs and expenses management and also the change of strategy for distribution channel of the year 2019. However amidst the economic fluctuations from both domestic and global economy, Year 2019 is another year that the management team could manage and achieve the satisfactory results, although in each year, the management team will face changes from external factors. In 2019, we emphasized on establishing the management policy in order to reduce the various actual costs to be effective without affecting income and being able to generate more profit than bottom line. Although the management policy will be changed in each year to comply with the changed situations that are controllable and uncontrollable, what is important includes tirelessness and encourage to fight the problems and obstacles encountering the management team. I would like to express my sincere gratitude to the management team and employees at all levels for your dedication, commitment, cooperation, and thank you for being our important part in driving ECF to continuously and steadily grow.

 

 

Mr.Arak Suksawad
Managing Director

Board

Board of Directors

1

From left to right

 

1. Mr.Paiboon Aroonprasobsuk Independent Director
2. Dr. Ekarin Vasanasong Independent Director
3. Asso.Prof. Songklod Jarusombat Independent Director
4. Asso.Prof.Dr. Montri Socatinanutak Independent Director
5. General Therdsak Maroom Chairman of the Board/Independent Director
6. Mr. Chalee Suksawad Deputy Chairman of the Board
7. Mr. Wanlop Suksawad Director
8. Mr. Arak Suksawad Director

Audit Committee

2

From left to right

1. General Therdsak Maroom Chairman of the Board, Audit committee and Independent Director
2. Asso.Prof.Dr. Montri Socatinanutak Chairman of the Audit committee and Independent Director
3. Asso.Prof. Songklod Jarusombat Audit committee and Independent Director

Risk Management Committee

3

From left to right

1. Mr. Chalee Suksawad Vice President
2. Asso.Prof. Songklod Jarusombat Audit committee and Independent Director
3. Asso.Prof.Dr. Montri Socatinanutak Chairman of the Audit committee and Independent Director
4. Mr. Arak Suksawad Director / Managing Director

Nominating Committee

4

From left to right

1. Mr. Chalee Suksawad Vice President
2. Asso.Prof. Songklod Jarusombat Audit committee and Independent Director
3. Mr. Arak Suksawad Director / Managing Director

Remuneration Committee

5

From left to right

1. Mr. Chalee Suksawad Vice President
2. Asso.Prof.Dr. Montri Socatinanutak Chairman of the Audit committee and Independent Director
3. Mr. Arak Suksawad Director / Managing Director

Board of Executive Directors

6

From left to right

 

1. Mr. Chalee Suksawad Vice President
2. Mr. Wanlop Suksawad Director
3. Mr. Arak Suksawad Director / Managing Director

Management Team

7

From left to right

 

1. Mr. Sittichoke Chinnurat Assistant Managing Director (Branch Office)
2. Miss Suphak Toepongarnan Assistant Managing Director (Head Office)
3. Mr. Racha Pojariya Faculty Director (Head Office)
4. Mr. Arak Suksawad Managing Director
5. Miss Pachanan Singphu Assistant Managing Director
6. Mr. Pongpan Suriya-Amporn Accounting and Financial Director

Company secretary And investor relations

8
Miss Sarisa Thongkittikul COMPANY SECRETARY AND INVESTOR RELATIONS

Credit Rating

Type of CreditRating AgencyCredit RatingRating OutlookIssue DateDownload
Company RatingTRISBB+Stable14 August 2019Download
Company RatingTRISBB+Stable25 July 2018Download
Company RatingTRISBBStable19 June 2017Download

ECF CSR Social Activities

The company is awareness. That will raise awareness about sharing in an organization culture focusing on promoting employees with public mind creating happiness through being a giver. To be a part of creating a better society for the present. This is why it is a project activity to deliver happiness to society and happiness to employees from being a giver.

1. Mr. Sittichoke Chinnurat Assistant Managing Director (Branch Office)
2. Mrs. Supak Suksawad Assistant Managing Director (Head Office)
3. Mr. Racha Pojariya Faculty Director (Head Office)
4. Mr. Arak Suksawad Managing Director
5. Miss Pachanan Singphu Assistant Managing Director
6. Mr. Pongpan Suriya-Amporn Accounting and Financial Director