The passing of H.M. King Bhumibol Adulyadej was a deeply profound loss for all Thais and our country. With eternal respect and gratitude for H.M. King Bhumibol Adulyadej’s dedication to Thai people, The Board of Directors, the Management, and Employees of Major Cineplex Group and its subsidiaries pledge to follow the Royal Footsteps in sustaining the development of our business for many years to come. The Board of Directors, the Management, and all staff associated with our entire group humbly offer our utmost respect and best wishes to His Majesty King Maha Vajiralongkorn Bodindradebayavarangkun. Long live His Majesty the King.
Major Cineplex Group Company Limited (Major) has continued to demonstrate and accentuate its leadership in the cinema and lifestyle entertainment industries in Thailand. The year 2016 was a challenging moment for business operators of all industries, but the Company maintained its commitment to optimize and further develop its potential in leading the lifestyle entertaining industries in Thailand and CLMV neighboring countries, especially Cambodia and Laos to ensure continuous growth. We are not just the top operator of movie theaters in the country, the Company embraces our role as total industry catalyst and supporter to keep raising the movie industry of Thailand to higher quality levels, and to promote the export of Thai films while always attracting new filmmakers into the industry.
In the past year, the Company owned and operated a total of 678 screens. In 2017, the Company plans to expand further, enabling our entertainment centers to reach all strategic locations nationwide to lay a firm foundation for robust growth. The existing theaters will be modernized to ensure that all the facilities can keep pace with ever-changing consumer needs, while the multimedia and technological potentials will be optimized to gain access to new clients and add value for all businesses under the Company’s umbrella. At the same time, the Company will maintain its prudent financial management and continue to look for opportunities to raise the Company’s value to a higher level.
The advertising business of the Company has continued to grow and has expanded its market share. With advertising as a key profit contributor, the Company believes that the expansion of theaters and advertising sales in various forms will continue to widen our customer base and allow further reach to consumers in other segments. The Company is strongly confident that it is capable of seeking additional revenue from our growing advertising business in 2017 and beyond.
On behalf of the management, I would like to express our gratitude to employees for their full dedication. Heartfelt appreciation is also extended to our clients, shareholders, business partners and all stakeholders for their support and trust in our businesses. I hope that you will continue to walk with us on this firm path.
Chairman of the Board
Chief Executive Officer