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)
Head Office Location:37/9 Moo 10 Banbueng – Klaeng Road, Thang Kwian Subdistrict, Klaeng District, Rayong Province 21110 which is the Head Office used as a factory for the production and assembly of particleboard furniture
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.
Type of business:Manufacturer and distributor of furniture made from particle boards, MDF, rubber wood, foil paper to be used in furniture manufacturing, production and distribution of dried rubber wood, distribution of furniture through websites, online platforms; and PVC trim cutting services, investment in solar power plant business, cryptocurrency mining business, and agriculture and crop distribution business.
Registered company/ TAX ID: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).
Securities Symbol:ECF
Registered Capital:287,846,227 Baht
which has been divided into 1,151,385,108 ordinary shares at a par value of 0.25 Baht
Paid-up Capital:239,871,897.50 Baht
which has been divided into 959,487,590 ordinary shares at a par value of 0.25 Baht per share
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

Message from the chairman

33

The year 2021 is another year that every country around the world including Thailand have suffered from the epidemic of COVID-19, which is considered as the main factor affecting the growth of the world economy including domestic economy. The outbreak of COVID-19 has affected and changed people’s behaviors and their lifestyle, resulting in the adoption of many policies by the governments in each country such as WFH (Work from home) to reduce the spread of this virus. Such policy made people more spending in furniture products, as seen from the figures showing the growth of Thai furniture exports with the values of 2019, 2020 and 2021 at THB 39,441.30 million, THB 44,576.40 million and THB 52,670.49 million, respectively. Based on such data, the export values of furniture have been increased every year, and East Coast Furnitech Public Company Limited has continued to effectively develop its furniture business to be competitive in both domestic and international markets. The increasing figures of the Company’s total revenue in 2021 shows its possibility of further growth, the Company also has a way to increase its selling channels and continuously create opportunities in expanding to new businesses. In 2021, the Company has expanded to businesses related to cryptocurrency mining and agricultural crop. The said expansion is expected to provide economic growth along with the principles of good corporate governance, ultimately, it will lead to sustainable growth for all stakeholders of the Company.

 

Regarding the corporate governance in 2021, the Company is very appreciated in being ranked as the listed companies with an excellent or 5-star rating for the 3rd consecutive year based on the survey of the Corporate Governance Report of Thailand Listed Companies 2020 organized by the Thai Institute of Directors, reflecting that the Company’s past performance has been committed in conducting businesses with transparency and verifiability, and prioritizing the sustainable development of business by focusing on the development of economy, society and environment, so that the interests will be equally balanced among all groups of stakeholders.

 

On behalf of the Board of Directors, I would like to express appreciations to the management team and all staff to dedicate in working with determination, devotion, diligence, patience, initiative and discipline for further development of the Company, and to all shareholders, customers, business partners and those who have always supported the Company’s operations. We considered that everyone as mentioned above is important in driving the Company’s business, and are sincerely looking forward to receiving good cooperation from everyone forever.

 

On this occasion, I wish everyone and family a blessing of happiness, prosperity, progress and wealth, including success in what is desired.

 

On behalf of the Board of Directors

East Coast Furnitech Public Company Limited

 

General Terdsak Marom

Chairman of the Board

Message from Managing Director

11

In 2021, everyone in the world has encountered many challenges and adapted themselves to many changes amidst the outbreak of COVID-19, all businesses must continue to be driven by the adoption of a business continuity management system, this is considered an important principle to help alleviate the severity, making the business operations smoothly going on with safety, and coping with changes based on different situations. We are highly appreciated by the cooperation from the management and employees, the understanding from partners and trustfulness from customers, including the good support from stakeholders, the Company, therefore, could pass through this crisis for another year.

 

For 2021, although the overall economy has been affected by the COVID-19 epidemic situation, even throughout the affected period, the Company has continuously adapted itself to cope with such impact. Considering the overview of 2021, the Company could continue to generate total revenue and grow its businesses, representing 13.08% compared to the same period of previous year. The increase was mainly due to the furniture orders from overseas customers, while the overall domestic sales have started to be recovered as well.

 

The renewable energy business invested through the Company’s subsidiary, ECF Power Company Limited, with the investment proportion of 20% through Green Earth Power (Thailand) Company Limited (GEP) as an investor in the solar power plant project in Minbu City, Myanmar, has presently generated its revenue from the commercial electricity sales of Phase 1 with a capacity of 50 megawatts from a total of 220 megawatts. Although in 2021, the COVID-19 has been continuously spread, presently, the construction plan of the project can be resumed as planned, and the construction of remaining phases was also planned to expedite the completion of all 4 phases as soon as possible, so that the profit sharing from electricity sales will be further recognized.

 

In addition, in 2021, the Company has expanded its businesses to Cryptocurrency Mining which will be operated through a subsidiary named ECF Holdings Co., Ltd., and a newly established subsidiary is V.V. Rich Company Limited, registered for the agricultural crop production and distribution to be operated under an additional subsidiary which will be newly established.

 

As seen that apart from the furniture business which is the original business of the Company, at present, the Company has a concept of “Step to the Future” to create a diversified business growth, diversify the risks, along with the principles of good governance on the foundation of sustainability, and integrate the sustainable development goals into the Company’s operations so that all areas of operations including economy, society and environment will show good performance, and the goal has been determined to continually develop better corporate governance in all areas.

 

On behalf of the Company, I would like to express the gratitude to everyone for trustfulness and good support all the times, the Company is committed to conducting its businesses with uprightness, aiming to add values for all stakeholders, be responsible in operating the business for stable growth together, and further create a society of sustainable coexistence.

 

Mr. Arak Suksawad

Board

Board of Directors

1

From left to right

 

1. Mr.Paiboon Aroonprasobsuk Independent Director
2. Dr. Ekarin Vasanasong Independent Director
3. Assoc.Prof. Songklod Jarusombat Independent Director
4. Assoc.Prof.Dr. Montree Socatiyanurak Chairman of the Audit Committee and Independent Director
5. General Terdsak Marom Chairman of the Board/Independent Director
6. Mr. Chalee Suksawad Vice Chairman
7. Mr. Wanlop Suksawad Director
8. Mr. Arak Suksawad Director

Audit Committee

2

From left to right

1. General Terdsak Marom Audit committee and Independent Director
2. Assoc.Prof.Dr. Montree Socatiyanurak Chairman of the Audit committee and Independent Director
3. Assoc.Prof. Songklod Jarusombat Audit committee and Independent Director

Risk Management Committee

3

From left to right

1. Mr. Chalee Suksawad Risk Management Committee
2. Assoc.Prof. Songklod Jarusombat Risk Management Committee and Independent Director
3. Assoc.Prof.Dr. Montree Socatiyanurak Chairman of the Audit committee and Independent Director
4. Mr. Arak Suksawad Risk Management Committee

Nominating Committee

4

From left to right

1. Mr. Chalee Suksawad Nomination Committee
2. Assoc.Prof. Songklod Jarusombat Chairman of the Nomination Committee and Independent Director
3. Mr. Arak Suksawad Nomination Committee

Remuneration Committee

5

From left to right

1. Mr. Chalee Suksawad Remuneration Committee
2. Assoc.Prof.Dr. Montree Socatiyanurak Chairman of Remuneration Committee and Independent Director
3. Mr. Arak Suksawad Remuneration Committee

Board of Executive Directors

6

From left to right

 

1. Mr. Chalee Suksawad Executive Committee
2. Mr. Wanlop Suksawad Chairman of Executive Committee
3. Mr. Arak Suksawad Executive Committee

Management Team

7

From left to right

 

1. Mr. Sittichoke Chinnurat Assistant Managing Director (Branch 2)
2. Ms. Suphak Toaphonganan Assistant Managing Director (Branch 1)
3. Mr. Racha Pojariya Assistant Managing 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+Stable30 July 2021Download
Company RatingTRISBB+Stable23 July 2020Download
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.