In the year 2019, the operations of the companies in the Somboon Group follow our vision "Strive for sustainable growth in the automotive industry through advanced technology and partnership." Through cooperation with business partners, Somboon Group focuses on balanced development, taking into account the benefits and values to all stakeholders, leading to competitiveness and being immune to the changing needs of the automotive industry. This would prepare Somboon Group for future growth opportunities in new technology and industry.
During the past year, the global economy has slowed down due to the uncertainty of the trade and business operations resulting from trade wars between the United States and China. This uncertainty results in the need for change and adaptation from various businesses. Secondly, the COVID-19 epidemic, which had an increasing impact in early 2020, caused economic downturns in the tourism sector and production disruption in some industriesะ, which have its supply chain linked with China, where the epidemic started. This effect quickly spread, causing many countries to take measures to prevent and deal with this threat seriously.
From the above situations, the company continues to develop to respond to all stakeholders according to the business philosophy of Somboon Triple Bottom Line: Smart People, Business Trust, and Growth Society, which drive the company towards sustainable development goals (SDGs) in line with international context and standards. The company pays close attention to the close cooperation with automotive manufacturers and automotive parts manufacturers to enhance competitiveness and create maximum value in the supply chain. So, the company continuously develops and researches for product development and improvement. In particular, in the year 2019, Somboon group has its investment in Nippon Kishikin Engineering Company Limited (NKE) to develop engineering design processes, automation systems, and testing systems to upgrade production with modern and environmentally friendly technology. The company gives importance to the development of employees at all levels by developing specialized knowledge to strengthen work standards and manage work to create value for oneself, for the organization, and society. The company is confident that balanced development would ensure that parts that have manufactured in the Somboon Group of company to be part of the future automobile's production in Thailand.
Lastly, on behalf of the Board of Directors of Somboon Group, we would like to thank all customers, partners, and all stakeholders for their trust and always supporting for the company. We reaffirm our commitment to drive business in a balanced and sustainable manner and carry on the success and stability of the organization.