Investor Relations

        Financial crisis of 2009 impacted a broad range of businesses; it depressed demand, negatively impacted production cycles and reduced overall consumer confidence. The impact on the Pulp and Paper Industry was immediate. Pulp and paper prices declined to below their 2007 peak as producers and consumers reduced their inventory. Even though, the Company's pulp and paper sales volume continued to drop significantly since the fourth quarter of 2008 until the second quarter of 2009 because of the severe downturn, the management of AA moved aggressively to optimize operating cost and consolidate Double A's market penetration. Operating costs were managed through eliminating double work, optimizing production output and rationalization of raw material costs and inputs. The aggressive consolidation of Double A brand activities and production optimization had a combined effect of improving gross margin. These efforts with cooperation of all employees were rewarded with a record profit of Baht 1,983 million.

        The Company continues the vision of "Global premium copy paper brand." Currently, we are well positioned in 100 countries, which are widespread in many continents such as Asia Europe Australia and Africa. Double A's market penetration was sustained through tremendous support of the Company's trade alliance partners and marketing activities. The result was Double A's brand recognition remained at an all time high level of awareness in most countries.

        In 2009 we initiated many social activities to express our caring and concerning for local communities. The purpose of these activities was to encourage farmers to plant fast growing Double A Paper Trees on empty and un-used space on their farm land. This generated extra income for the farmers themselves, absorbed CO2, thus reducing green house gas emission.

        On behalf of the Board of Directors, management, and every employee, I would like to thank our shareholders and investors for unabated trust and support in the operation of the Company. I would also like to thank our customers that support the Company's products, our trading partners who always ensure the highest standard of services and deliveries, banks and financial institutions that have provided financial supports, and lastly, the society and communities that allow the Company to be involved in environmental development and social responsibilities initiatives.