Asset World Corporation Public Company Limited (AWC), a leading real estate developer in Thailand focused on comprehensive lifestyle solutions, understands the evolving situation and impact of the COVID-19 pandemic in Thailand, marked by an increasing number of infections. AWC is committed to enhancing care for all stakeholders and working together to navigate through this challenging time as best as possible.

NaValapa Traisorat, CEO and Managing Director of Asset World Corporation Public Company Limited (AWC), stated, "In light of the changing COVID-19 situation in Thailand, we have elevated various measures across all AWC business operations, focusing on hygiene and safety, providing support to partners and tenants in our projects, adjusting business operations, enhancing employee welfare, and maintaining continuous communication both internally and externally. Our goal is to ensure that our employees, business partners, tenants, customers, and the community as a whole can overcome this difficult situation together as best as possible."

The enhanced measures to address the COVID-19 situation include the following:
Human Resources
AWC has implemented COVID-19 insurance, selecting the best plan for all employees, over 6,000 in total, including those in AWC hotels and employees working on various AWC projects, in addition to regular benefits. Employees are required to work from home, evaluated weekly since March 10, 2020, as a proactive measure by AWC. Employees are advised to refrain from international travel, and if necessary, to inform their supervisors for case-by-case consideration. Meetings and gatherings in crowded places are to be avoided, and direct meetings with external parties are suspended, with communication conducted through various information systems. Employees showing any symptoms are urged to see a doctor and inform their supervisors immediately.

Business Partners

  • Tenants in Retail and Wholesale Properties

AWC has decided to increase the monthly rent discount to 50% from March 18, 2020, to April 30, 2020, for all tenants across all projects, to support our partners in overcoming this situation together, in light of the government's stricter measures to close service venues and prohibit large gatherings to prevent the spread of COVID-19 in Bangkok and its vicinity. AWC will continue to assess appropriate support measures as the situation evolves and will stand firm to address all challenges to navigate through this difficult time together.

  • Office Tenants

AWC is pleased to offer a 20% discount for current tenants and business partners seeking backup office space in AWC's various properties located throughout Thailand, with strict safety and hygiene measures in place.

  • Partners and Contractors Related to Project Development

AWC has extended deadlines for project deliveries to all partners and contractors affected by supply chain disruptions due to the COVID-19 pandemic. AWC continues to pursue its long-term plans to enhance the capabilities of current projects and develop new ones, in line with AWC's growth strategy, including establishing a Business Continuity Plan and securing backup office space for critical positions to be prepared for any potential situations, through close communication and collaboration with partners and contractors.

  • Hospitality Business Partners

AWC, in collaboration with six global hotel partners including Marriott International, Hilton, InterContinental Hotels Group, Banyan Tree, Melia, and Okura, has implemented stringent and ongoing hygiene and safety measures to ensure health safety within the projects, while also instilling confidence in guests and patrons. Appropriate measures have been established for both short-term and long-term, including waiving cancellation fees for hotel stays and postponing meetings, as well as conducting comprehensive cleaning programs across all projects in addition to regular cleaning schedules.

Customers
AWC has elevated hygiene measures to reduce the risk of COVID-19 transmission and instill safety confidence among employees, business partners, tenants, customers, and visitors to hotels, retail stores, and shopping centers under AWC's management. AWC has implemented general measures within buildings, including disinfecting various areas, spraying disinfectant in passenger elevators every 30 minutes, installing hand sanitizers at entrances and in high-traffic areas, advising customers and visitors to wash hands frequently, and ensuring hand sanitizers, soap, and paper towels are always available in restrooms. Additionally, AWC has established signage for hygiene measures and convenient access to hand sanitizers, along with conducting comprehensive cleaning every 30 days, measuring the temperature of everyone entering the buildings/projects, and screening at all entrances, including random inquiries about travel history and contact with COVID-19 cases in the past 14 days, while coordinating with tenants to establish internal measures to prevent the spread of COVID-19.

Shareholders
AWC continues to pursue its growth strategy, focusing on a balanced and diversified investment portfolio, enabling AWC to manage risks from market fluctuations and changes in any sector. Despite the current situation severely impacting tourism and the hotel business, AWC maintains its office business segment, which remains unaffected and continues to generate revenue, operating according to its strict plans for maximum efficiency.

Community and Society
AWC will closely monitor the situation and is ready to collaborate with the government and various organizations to define guidelines, measures, and policies for operations, prioritizing care and assistance to ensure that all parties involved can navigate through this situation as best as possible.

"AWC is fully aware that the COVID-19 situation continues to evolve. We are prepared to care for our stakeholders in every dimension, to endure and overcome this challenging time together as best as possible," NaValapa concluded.