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 furniture made of particle board and 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

East Coast Furnitech Public Company Limited commits to conduct the business under good corporate governance along with running our business based on the Company’s vision requiring that “Committed to be the leader in furniture business in Southeast Asia and Create opportunities for continuous growth in business”. As the Chairman of the Board of Directors, and Audit Committee, I would like to inform all of stakeholders that even though the situation of 2020 as you know that all industrial sectors and businesses are mostly affected by COVID-19 outbreak situation, which has significantly impacted the business operations. Our company have been certainly affected, resulting in a slowdown in revenue during the first quarter until the middle of the second quarter. However, East Coast Furnitech Public Company Limited could continue to generate income and restore the growth when comparing to previous year. This has reflected our commitment and dedication to stabilizing and continuing our business.

 

In 2020, the Company has continually developed and improved its performance on corporate governance, we were rated as one of ‘excellent or 5-star’ listed companies by the survey according to the Corporate Governance Report of Thailand Listed Companies 2020, prepared by the Thai Institute of Directors Association (IOD) for the second consecutive year, it is regarded to reflect our performance that the Company is committed to conducting business with transparency and verifiable. In addition, the Company has also paid great attention to the sustainable business development by focusing on the development of economic, social and environmental performance to create an equal balance of benefits for stakeholders of all groups.

 

On behalf of the Board of Directors, I would like to thank the management and executive team and all employees for your determination, dedication, persistence, initiative and discipline for the development of the Company to grow more, we have also appreciated the supports of shareholders, customers, business partners and those who have always supported the Company’s operations, considered that everyone is an important person in driving the business of the Company and we do sincerely hope to be provided of such good cooperation by all of you forever.

 

On this occasion, I wish to bless all of you and your family for happiness, prosperity, progress and wealth, and achievement in what you desire.

 

On Behalf of the Board of Directors

East Coast Furnitech Public Co., Ltd

General Terdsak Marom

Chairman of the Board

Message from Managing Director

11

In 2020, although the overall economy was impacted by the outbreak of COVID-19, resulting in impacts on ECF in some areas, such as decreasing orders, postponed production and shipping. Such effect was obvious in the first quarter until the middle of the second quarter; however, the situation of ECF has been resumed with the continuous increase of orders and finally the situation has been restored to generate more revenue when compared to 2019. Customer groups who trust us to significantly place more orders, include China, India, the United States and the Middle East. The Company also has a chance to continuously obtain orders in the future because they are large customer groups with potential for growth, which will place more orders. At the end of previous year, the Company began to expand our investment in adding more machineries. Also, in 2021, we also have a plan to continuously expand and invest in machineries to support such increased orders.

 

In terms of renewable energy business, ECF Power Company Limited, one of our subsidiary, has invested 20% in Green Earth Power (Thailand) Company Limited (GEP) as an investor of solar power plant project in Minbu City, Myanmar, which has completely sold the commercial power for Phase 1 with a capacity of 50 megawatts out of 220 megawatts since 27 September 2019. Although in 2020, the COVID-19 situation affected the delay of construction for Phase 2, at present, the project could resume some parts of construction plan as planned and the acceleration of the construction in remaining phases are also planned to complete all 4 phases in order to further realize the profit sharing from the electricity distribution. In addition, GEP has a plan to prepare itself to become a listed company on the Stock Exchange of Thailand; at present, the Financial Advisor is in the process of preparing relevant parts and it is expected to possibly submit to the Securities and Exchange Commission within the second quarter of 2022.

 

Based on the overall performance of 2020, the Company could generate a total of revenue at 1,415.63 million baht and profit of the Company portion at 41.16 million baht under the COVID-19 outbreak situation, the Company could generate income to grow and have profit. For the year 2020, it can be considered as another year that the management team could manage to achieve satisfactory results, although in each year, the management team has to encounter changes from external factors that are sometimes out of control, it is important to continually monitor the situation and analyze the risks that will affect the operating performance in order to keep up with the response plans and adjust the operational plan accordingly to minimize the impacts that may occur, coupled with the persistence to not give up and lose to the problems that occur. The Management Team and I would like to sincerely thank the executive team and employees of all levels for giving confidence to the Company, giving dedication, determination and cooperation as an important part in driving ECF to continue to steadily grow together.

 

 

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. 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+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.