During 2008 Thailand faced a number of political and economic challenges. Many large businesses in Thailand and other countries were forced to either downsize or close down as a result of the US economic crisis with effects rippling across all continents.Undeniably, BJC was also affected by these negative factors to a certain degree. Fortunately, the impact was relatively limited as our management had anticipated the problems and made necessary changes to business strategies beforehand. Strategic changes were made in the areas of management, finance, production and marketing to best reflect the fast-changing circumstances.

We have generated a total of Baht 22,447.7 million in revenue in 2008, with earnings before interest and tax of Baht 1,757.1 million, and a net profit of Baht 1,076.4 million.

We anticipate that in 2009 the Thai political situation will become more stable than in the previous year. Also, we trust that the attempts of major buyers like the United States, Europe and Japan to restore their economies will be effective, and that it will help prevent the global economy from going further downhill. Such efforts will also indirectly help stimulate the Thai economy.

As for the operation of BJC, we will continue to strive for business growth and proceed with caution and care. We promise to maintain our excellent product and service quality, while simultaneously finding ways to lower production costs and other expenses. Additionally, we will further improve our internal management on top of the restructuring plan we successfully completed last year to achieve greater flexibility, minimize redundancy and be in a position to best serve our clients. Situations with potential effects on our company will be closely monitored and we will adapt our strategies as necessary. At the same time we will continue to improve our employee training program to keep them abreast of new developments and technologies.

Overseas business expansion is another important strategic initiative of BJC. To this end, we have established BJC International Co., Ltd. to oversee business potential and new investment opportunities in other countries.

Regarding our Corporate Social Responsibility efforts, we have always been willing and active in lending a helping hand to society — especially in the area of education. Nearly 2,000 individuals have been granted scholarships from our company over the past 30 years, and we are determined to continue with this campaign to contribute to the good of Thai society.

BJC is forever indebted to our shareholders, partners, management and staff at all levels for their continued support. It is this unyielding backing that has encouraged and inspired us to overcome obstacles and achieve one success after another. I would like to extend my personal gratitude to each and every one of you who has contributed to our impressive business growth so far, and I hope that this will continue in the year ahead and for many years to come.

Charoen Sirivadhanabhakdi
Chairman of the Board of Directors