Message from Chairman

Dear Shareholders,

On behalf of the Board of Directors and on my personal behalf, I am delighted to welcome you all to this Annual General Meeting of your Company. I am even more delighted to inform you that, in line with the Thai economy which grew at a faster pace in 2017 (GDP growth 2016: 3.3%, 2017: 3.9%), the Company was able to achieve another year of satisfactory operating result for the year 2017. This was reflected by the fact that revenue from sales and services for the year 2017 increased 6.1% year-on-year to Baht 16,073 million attributable largely to the continued network expansion as well as increases in same store sales of both MK and Yayoi restaurant chains. Net income for the year 2017 reached Baht 2,425 million, up by 15.5% year-on-year which was higher than the rate of increase for revenue from sales and services. Such higher rate of increase was due mainly to the increase in revenue from sales and services and the continued rigorous control of costs and expenses. Earnings per share, meanwhile, increased from Baht 2.30 for the year 2016 to Baht 2.65 for the year 2017. In light of the satisfactory operating performance aforementioned and the solid financial position of the Company, the Board of Directors resolved to recommend a full year dividend of Baht 2.30 per share (2016: Baht 2.10). As an interim dividend was already paid by the Company to shareholders during the year, the final dividend, subject to the shareholders’ approval at the 2018 Annual General Meeting, will be paid to shareholders who are eligible to receive dividends on May 23, 2018.



Mr. Rit Thirakomen
Chairman and Chief Executive Officer

In 2017, the Company has focused on management and technology developments and other initiatives to enhance its competitiveness and to prepare for the sustainable growth of the Company in the future as follows:

  1. Implementing the strategic management succession plan through the grooming of the next generation management team.
  2. Implementing the installation of the ERP system (Enterprise Resource Planning) to improve the efficiency of various management functions of the Company.
  3. Implementing the MK Mobile Application project to enhance customer service and experience whereby customers can use their mobile devices to make table reservations or make advance queue bookings. It also serves as the platform for the Company’s marketing campaigns and other promotional activities.
  4. Investing in modern machinery and equipment for the production of high volume products in order to improve product quality as well as to reduce product costs in the long run.

In addition, the Company has initiated a new restaurant concept to match the luxurious image of the shopping mall and the target customers where the restaurant is located by launching its first MK Live restaurant at The EmQuartier shopping mall in March 2017. Following the highly successful result of the new restaurant concept, the Company opened its second MK Live restaurant at Mega Bangna shopping mall in December 2017. The Company plans to open more MK Live restaurants in 2018.

" Thai economy which grew at a faster pace in 2017 (GDP growth 2016: 3.3%, 2017: 3.9%), the Company was able to achieve another year of satisfactory operating result for the year 2017. This was reflected by the fact that revenue from sales and services for the year 2017 increased 6.1% year-on-year to Baht 16,073 million "


Looking forward to the year of 2018, the economic indices of the key economic drivers of the Thai economy at the start of the year showed signs of continuing robust economic growth as indicated by the fact that the value of exports grew at the fastest rate in the last 62 months in January, surging 17.6% year-on-year. The Thai industrial confidence index also rose for the third straight month in January, hitting a three-year high at 91.0, while the consumer confidence index increased for the sixth consecutive month to 80.0 in January and it is the highest reading in the last 36 months. Moreover, reputable and well recognized government and private organizations all forecast that the Thai economy in 2018 will continue to grow at a rate not lower than that of 2017. As the business of the Company is closely linked to the condition of the economy, we are thus optimistic about the operating result of the Company for the year 2018. We are also relatively confident that we will be able to achieve our expected and more challenging operating objective for the year 2018. However, we will not be blinded by our optimism and will remain cautious and make necessary preparations to cope with the uncertainty and any disruptions that may adversely affect the operations of the Company in the year ahead.

Lastly, on behalf of the Board of Directors, I would like to thank all of our shareholders, employees, business partners, and above all, our customers for their unfailing trust and support through the years. I would also like to take this opportunity to reiterate that the Company is committed to conducting its business transparently and efficiently and strictly in accordance with the principles of good corporate governance for the best benefits of all our stakeholders .