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Message from our Board Chairman

Dear Shareholders,

2016 was the year of the tremendous loss and deep sorrow of Thai people all over Thailand from the passing of our beloved King Bhumibol Adulyadej, Rama IX. On behalf of all directors, management and staff of CK Power Public Company Limited (the "Company"), I, as the Chairman of the Board of Directors, am most grateful for the boundless and gracious kindness of His Majesty the late King.

In 2016, Thailand economic overview tended to slightly recover from the previous year. As for the Company, there were significant developments last year, e.g., the successful refinancing of the existing loans and creation of additional debts by extension of the period of time for the debt repayment of Nam Ngum 2 Power Company Limited, and as a result, Nam Ngum 2 Power Company Limited was able to reduce its financial costs and allocate its investment budget for improvement of voltage and construction of the Nabong Substation to accommodate the electricity distribution from several power projects in the Lao People’s Democratic Republic selling electricity to the Electricity Generating Authority of Thailand. In addition, the operational results of other projects invested by the Company were satisfactory, i.e., all projects with commercial operations could make dividend payment to the Company; and as for the projects under construction, namely, the Xayaburi Hydroelectric Power Project progressed by approximately 70 percent according to plan and budget; and the Bangpa-in Cogeneration Power Project Phase 2 progressed by 84 percent, which will be another project to commence its commercial operation in the middle of 2017. Such achievement was due to dedication and cooperation of the Company’s personnel and management in efficient planning, negotiation and risk management, with full support provided by the lending financial institutions, major shareholders, as well as all stakeholders, with an aim for common interest to be received by the Company and shareholders at each milestone of the Company’s achievement.

Besides our commitment to ensuring satisfactory returns, the Company also gives priority to development of its personnel which will be a foundation in the organization development in the future. At this point, the Company and its subsidiaries are pending personnel restructuring within the company group by way of sending the Company’s personnel with expertise to provide technical, engineering, and general administration services for its subsidiaries, in order for the Company to closely monitor the performance standard and determine the managerial direction to be conducted in the same way, alongside the cost reduction of human resources of the subsidiaries. The Company expects that such human resources restructuring will be completed in 2017.

In 2017, the Company affirms its commitment to becoming a leader in the electricity production and distribution business in the region, with the tireless effort to conduct feasibility studies to increase the opportunity to invest in new projects, both in Thailand and overseas, which will ensure benefits and business growth, along with participation in the energy development in Thailand and ASEAN region.

I, on behalf of the Board of Directors, would like to extend my thanks to all shareholders, lending financial institutions, strategic partners for your support and trust in the Company’s potential, as well as management and all staff for their dedication and hard work to enable the Company to overcome hardships to bring about the achievement of the Company and its affiliated companies in providing yields to all shareholders and stakeholders. Moreover, the Company continues to keep its commitment to generating good returns and adheres to the corporate governance principles, including the business ethics, together with responsibility towards the society and stakeholders with fairness and transparency, to ensure sustainable growth and maintain its ability to regularly make dividend payment to shareholders, as well as to become a leading company in the power production business of Thailand and ASEAN region.

Dr. Thanong Bidaya
Chairman of the Board of Directors