Message from Chairman
Over the years, Thai Nondestructive Testing Public Company Limited (“TNDT” or “the Company”) has stood as a cornerstone in ensuring safety for the nation’s energy, oil, and gas industries. However, in recent years, TNDT has faced significant challenges arising from the volatility of both domestic and international economies, as well as intense price competition within the inspection and testing sector of the oil and gas industry. These factors have directly impacted the competitive advantage of the Company—the very foundation of our core business for the past 43 years—leading to a slowdown in operating results and the recognition of accounting losses from asset impairment provisions across various projects over the past three years. Nevertheless, the management team has remained steadfast and utilized this period to undertake an organizational transformation, laying the groundwork for a stronger and more sustainable “New Era of TNDT.”
Strategic Repositioning: Creating Value Beyond Pricing
The core of this transformation lies in our policy to avoid engaging in “Price Wars,” which we believe hinders long-term growth potential and undermines our capabilities. Instead, the Company is committed to leveraging our advanced technologies and specialized expertise to penetrate industries that demand high-level structural safety and precision testing. By focusing on these high-barrier-to-entry segments, we aim to build a sustainable competitive advantage that is difficult to replicate. We have set a clear target to transition our service portfolio, with the goal of establishing these advanced technology services as the primary revenue driver for the Group within the next 3 to 5 years.
Business Advancement and Ecosystem Development
The Company is steadfast in its belief in achieving a balanced portfolio to reduce reliance on any single industry. Currently, we have begun laying the groundwork for expansion into the agricultural sector through our subsidiary, Rise Plus Co., Ltd. (“Rise Plus”). Rise Plus serves as the spearhead of our entry into the rice trading market, notably utilizing our specialized expertise in electron beam irradiation for sterilization and pest control. Furthermore, we have integrated mapping technology and digital solutions to diversify our business operations and enhance our engagement with the community and society. The performance of Rise Plus over the past year has been satisfactory, proving that integrating our proprietary technology with consumer-facing businesses creates significant value and establishes a foundation for sustainable, recurring income moving forward.
To achieve our business turnaround goals, the Company has established the following key strategic pillars:
1. Strategic Alliances: We are expanding our business base into new industries where we maintain a competitive advantage, both domestically and internationally. By collaborating with potential partners to combine our safety expertise with their local networks, we aim to mitigate risks and enhance our access to high-potential projects on both national and global scales.
2. Green & Sterilization Innovation: We are prioritizing green businesses and irradiation innovations as our core “Safety Technology” to produce sterile, high-quality products that address the global trends in health and hygiene.
3. Asset Recovery & Efficiency: We are committed to resolving outstanding investment issues within 2026, while simultaneously enhancing organizational efficiency to ensure agility and eliminate unnecessary costs.
While our financial figures may reflect the challenges we have faced, within these crises, we have identified growth opportunities through our investments in new business ventures that are now yielding tangible results. On behalf of the Board of Directors and the management team, I would like to express my sincere gratitude to our shareholders for your continued trust. I also extend my deepest appreciation to our directors, who have graciously waived their compensation to support the Company, and to our employees, whose dedication drives this organization through these challenging times. The Company remains steadfast in our commitment to our vision of safeguarding lives, assets, and the environment, as we continue our journey toward becoming a distinguished leader in safety innovation and integrated technology
(Mr. Suwat Dangpibulskul) (Miss Chomduen Satavuthi) (Mr. Thanun Satavuthi)
Chairman of the Board Chairman of the Executive Committee Chief Executive Officer