In 2025, Thailand’s economy is projected to grow by 2.2%, decelerating from 2.5% in 2024, due to a slowdown in private consumption and domestic spending, as well as heightened uncertainties arising from both domestic and international factors. These include geopolitical developments such as Thai–Cambodian relations, severe flooding in southern Thailand, domestic political stability, and U.S. import tariff measures, all of which exerted pressure on the overall economic environment. For 2026, Thailand’s economic growth is expected to further moderate to approximately 2.0%, reflecting subdued momentum in private consumption, export sector pressures arising from trade-related tariffs, and domestic political developments that may affect both consumer and investor confidence, potentially impacting overall purchasing power. Nevertheless, the Thai economy continues to benefit from the ongoing recovery in tourism and related services, which help support consumption, as well as improving outlook for private investment, which contribute positively to overall economic conditions.
❞The Board of Directors recognizes the challenges arising from such circumstances and therefore remains committed to conducting the Company’s business with prudence, agility, and adherence to the principles of good corporate governance. The Company continues to operate under the concept of “Success with Synergy and Sharing,” which emphasizes achieving success through collaboration and appropriate value sharing.In 2025, the Company recorded total revenue and share of profit from investments in associates and joint ventures of Baht 7,188 million, and net profit of Baht 2,284 million, representing a decrease from Baht 3,370 million reported in 2024.
The Company continues to focus on creating new business opportunities and strengthening synergies with both domestic and international partners to support stable and sustainable organizational growth. In 2025, the Company invested in businesses aligned with and complementary to its core operations to enhance the strength of the Saha Group and reinforce long-term competitiveness. During the year, the Company established Saha Osha Co., Ltd. to systematically expand into the food business through equity investments in high-quality Japanese restaurant brands, including “Unagi Yondaime Kikukawa” (Eel rice bowls), “Kaneko Hannosuke” (Tempura rice bowls), and “Daishogun Burger” (Wagyu beef burgers). These investments have diversified the Company’s food business portfolio and strengthened its future growth potential. In addition, the Company has established Quantum Universe Co., Ltd. to develop and operate businesses with high safety standards, while delivering lifestyle experiences tailored for premium customers, particularly High-Net-Worth and Ultra-High-Net-Worth Individuals (UHNWIs). The core businesses include personal safe deposit box services developed in accordance with international security standards, as well as a health and wellness center integrating advanced health technologies, aiming to provide a comprehensive ecosystem that combines security, privacy, and quality-of-life enhancement. These businesses play an important role in enhancing the value proposition of the Company’s mixed use real estate developments in the Rama III area, including KingBridge Tower and KINGSQUARE Community Mall, which are developed by the Company’s associated entities. With regard to strategic partnerships, the Company continues to strengthen collaboration with key partners through joint investments in new projects. One such project is a joint venture with Thai Obayashi Corporation Limited to develop a five-star hotel in a prime location in the Ratchadamri district. This project further enhances the strength and diversity of the Company’s real estate portfolio.
With respect to sustainability, the Company places strong emphasis on good corporate governance and responsible business practices to create long-term value for all stakeholders. In 2025, the Company received an “Excellent” (5 star) rating in the Corporate Governance Report of Thai Listed Companies (CGR) from the Thai Institute of Directors Association (IOD) for the seventh consecutive year, reflecting its ongoing commitment to high governance standards. The Company also received a “AA” rating under the SET ESG Ratings 2025 for the Services sector from the Stock Exchange of Thailand and was selected as one of the ESG100 securities by the Thaipat Institute. These recognitions reflect the Company’s outstanding ESG performance and reaffirm its dedication to sustainable value creation alongside business growth.
Looking ahead to 2026, the Company remains firmly committed to advancing sustainable organizational development through prudent and disciplined business operations conducted in the highest regard for the Company’s best interests. The Board of Directors will continue to closely monitor developments and adjust strategies and plans as necessary to respond effectively to evolving circumstances, while seeking new business opportunities in collaboration with partners to deliver appropriate returns for shareholders. All such efforts will continue to be undertaken with due consideration for all stakeholders and in accordance with long-standing principles of good corporate governance and risk management.
Finally, the Board of Directors would like to express its sincere appreciation to all stakeholders, including customers, joint venture partners, business partners, financial institutions, shareholders, debenture holders, strategic partners, executives, employees, and all related parties, whose continued trust, cooperation, and support have been instrumental in driving the Company’s sustainable growth. The Company remains steadfast in conducting its business in accordance with good corporate governance principles, under the guiding philosophy of “Good People, Good Products, Good Society,” to create lasting value for the Company, Thai society, and the global community.