CPANEL has revealed its business direction for the final quarter of 2023, adjusting strategies to handle all situations, expanding its customer base in government projects, and continuing in the private sector. The goal is to shift the ratio of government work to 40% and private sector work to 60% to reduce volatility and create stable growth. The company aims to enhance product capabilities, reduce carbon emissions, be environmentally friendly, lower costs, and meet market demands, while maintaining a backlog of 1.418 billion baht to support sustainable growth.

Mr. Chakrit Tipakornsukasem, Managing Director of CPANEL Public Company Limited, a manufacturer and distributor of fully automated precast concrete products for real estate construction projects, stated that the business direction in the final quarter of 2023 shows continuous growth in government project work, aligning with government policies that promote infrastructure investment and support the demand for high-rise housing in major cities, as well as the trend of increased investment in real estate. This drives the demand for high-quality construction materials.

The company is therefore adjusting its strategy to reduce volatility, diversify risks, and support long-term growth by focusing on expanding its customer base in government and private sector high-rise projects, including office buildings, industrial factories, hotels, and hospitals. The target is to increase the proportion of government work to 40% and private sector work to 60%. It is expected that there will be opportunities to take on more government projects and new work starting in the fourth quarter of 2023.

Additionally, the company emphasizes product development, currently studying and developing products to meet environmental needs, reduce costs, save energy, and prepare production capacity to support high-rise residential projects and government projects, creating opportunities for increased sales while maintaining a suitable backlog of approximately 1.418 billion baht.

Moreover, the company is committed to driving its business towards the goal of Carbon Neutrality by reducing carbon dioxide (CO2) emissions to create a suitable environment and mitigate climate change for living beings on Earth, while conducting business sustainably. CPANEL is the first precast concrete panel manufacturer in Thailand to receive the Carbon Footprint Organization (CFO) certification.

“Although the construction of the real estate sector and private projects slowed down in the first half of 2023 due to the overall economic conditions, the company has still managed to operate strongly, achieving better performance than the average of the construction industry. The company is confident that with a clear strategy and commitment to sustainable business development, CPANEL will be able to grow robustly and lead the precast concrete panel market in Thailand,” said Mr. Chakrit.