The Company is confident that in the future the Company will continue to grow in terms of revenue and profit and be able to repay debentures and pay dividends to the shareholders on a regular basis.

In 2015, the Company’s revenue increased significantly, rising from Baht 2,133 million in 2014 to Baht 2,625 million in 2015 or 23%, while the profit increased from Baht 914 million in 2014 to Baht 1,279 million in 2015, or 40%. The Company is confident that, in the future, the Company will continue to grow in terms of revenue and profit and be able to repay debentures and pay dividends to the shareholders on a regular basis. In 2015, the Company issued a new set of debentures, with 4-year tenor, at the amount of Baht 1,100 million. With the newly issued debentures and cash on hand, amounting to Baht 550 million, the Company was able to repay debentures and short-term debts with maturity in December 2015 at the amount of Baht 1,650 million. As a result, the Company’s outstanding debentures dropped from a total of Baht 5,718 million in 2014 to Baht 5,168 million in 2015, resulting in the debt/equity ratio dropping to 0.88 times and pro rata decrease of future interest expense, which is fixed level based upon tenor of each debenture series. The Company has a policy to reduce debenture debts continuously and pay dividends every year, aiming to have the shareholders receive dividends and create sustainability and security for the shareholders in the long run.

On the improvement of services for the convenience, swiftness, and safety of Don Muang Tollway users, the Company has hired Metropolitan Expressway Co., Ltd. from Japan as the Company’s consultant in developing the tollway traffic management system, with investment in modern tollway equipment for more efficiency in the Company’s tollway traffic management.

On administrative court cases where the Company is a co-defendant with the state in three cases, the Central Administrative Court acquitted the Company in all three cases. But for one of the cases, the Court ruled to revoke the Cabinet’s resolution which may have effects on the Company. Therefore, the Company, together with the state, has filed an appeal for the case. For the other two cases, the plaintiffs (complainants) have filed appeals at the Supreme Administrative Court too. Therefore, the three administrative cases are at the appeal stage at the Supreme Administrative Court. The Company, in cooperation with the legal advisor, has taken utmost efforts in handling the cases and hopes that the outcomes of the cases will be in the Company’s favor.

The Company has established and managed a foundation named Dream for Achievement Foundation since 2013, to provide scholarships for needy students who possess high capabilities and pass an entrance examination to study in the country’s top universities at a level of bachelor’s degree. Since 2013, the foundation has given a total of 60 scholarships to capable students and all of them have good conduct and high educational performance; four students of the first group of the scholarship recipients will graduate in 2016 school year. The Dream for Achievement Foundation will continue to provide scholarships to support these knowledgeable, capable, but needy and disadvantaged youths so that they can grow and become a force in developing the country. The Company will continue to support the Dream for Achievement Foundation and would like to invite other donors who wish to have contributions in supporting education under the foundation’s policy, which will help make the foundation a sustainable charity organization for society (details in website: www.daf.or.th)

Finally, on behalf of the shareholders, the Board of Directors, the management and all the employees of the Company, I would like to thank the tollway service users, state and private agencies, shareholders, debentures holders, and stakeholders for their continued trust in the Company. And on behalf of the shareholders, I would like to express my thanks and appreciation to the Board of Directors, management, and employees at all levels of the Company for their cooperation and harmony in performing duties, resulting in the Company being able to provide efficient tollway services to motorists, in accordance with the Company’s mission and vision.


Mr. Sombath Phanichewa

Chairman of the Board of Directors