To Shareholders and Stakeholders

In 2022, S&P Syndicate (Public) Co., Ltd., celebrated 49th Anniversary of its secure and sustainable business in the midst of COVID-19 situation affecting several businesses, particularly the restaurant business which has to be temporarily closed to prevent the spreading of the disease, and severely affecting the business operation of S&P under the "New Normal" business environment.

Even with this pandemic crisis, the Company has rapidly adjusted its business operation strategies to keep up with the changing situation by opening S&P outlets in the new concept of "Delta" (Delivery and Take Away) emphasizing sale through delivery channels, converting restaurants into "S&P Market Place" to create new shopping ambiance for our customers to buy take away quality products at special price. As a result, the gross sales have increased substantially. In addition, the Company has developed new products, including online platforms for more convenient use in accordance with the current customers demand.

Moreover, the Company has given the importance to the sustainable business operation throughout the value chain as per the Sustainable Development Goals (SDGs) of the United Nations by creating healthy food and selecting quality raw materials from Thai farmers for income distribution to various communities, and upgrading the potentials of personnel and CSR programs as well as using environmental friendly packages, producing bakeries from clean energy and aiming at operating its business under the concept of circular economy by efficient use of resources and effectively managing wastes.

The Company is committed to its balanced business operation with social and environmental responsibilities for sustainable growth together with the Thai social well being.

On behalf of the Board of Directors and executives of the Company, I wish to thank our shareholders, business partners and customers for their continuous support and trust. I also appreciate S&P employees for their united efforts and devotion to get through this crisis. In the 48th Anniversary, the Company still gives top priority to quality, hygiene and safety of its products and the Company is committed to developing new products and delivering the best services to its customers in order to uphold the quality operation of the Restaurant and Bakery chain, and to increase the growth and development of the food industry.

Mrs. Patara Sila-On