MAKROE1.PDF - CONTENTS Message 10 from the Chairman and Chief Makro 12 Makro 16 foodservice Store People 18 Development Distributionand 19 Logistics

MAKROE1.PDF - CONTENTS Message 10 from the Chairman and...

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CON TENTS 10 Message from the Chairman and Chief 12 Makro 16 Makro foodservice Store 18 People Development 19 Distributionand Logistics 20 Customer Development 21 Food Safety and Health & Safety 22 Makro RetailerAlliance(MRA) 23 Corporate Social Responsibility 24 5 th Retail Expo 26 8 th Makro HoReCa 28 Sustainability and Environmental Managem 30 Food Service Companies 33 Company Profile 34 Financial Highlights 36 Audit Committee’s Report 37 Management Discussion and Analysis 40 Industry and Competitive Environment 41 Lookingto the future 42 Risk Factors 44 History and Major Development 46 Other Information 100 Report of the Board of Directors’ Resp for Financial Statements 101 Financial Statements 158Makro, Makro foodservice, Siam Froze Siam Food Services and Vina Siam
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CORPORATE PHILOSOPHY GROWTH THROUGH PERFORMANCE GO FOR NICHE AND MARKET SHARE INVEST IN PEOPLE LOOK FOR THE UNUSUAL MANAGE CHANGE LISTEN, LEARN AND REACT KEEP THINGs SIMPLE
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VI SION makro, partner for your business... makro, partner for your business pro the best solution to food professiona through complete range, quality, price and serviceS.
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MIS SION TO BE THE 1 st Choice supplier to our registered food professionals
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10 2013 Annual Report Siam Makro Public Company Limited T he efforts of the Government to provide positive support and measures to stimulate the economy over the past two years have contributed to the rapid recovery of the Thai economy after the devastating floods in 2011. At the beginning of 2013, it was expected that the Thai economy would continue to grow steadfastly, however, unfortunately, the economy has not developed to the extent that was anticipated. The economic slowdown in 2013 has been caused by the lack of economic drive in all of the main economic drivers as seen in slight contraction in export sector, limited growth in domestic spending, negative private investment growth and government unable to carry out budget spending as planned. Even though inflation rate in Thailand remained relatively low at 2.2%, the uncertain economic environment combined with political situation led to a growth of Thai economy in 2013 at just 2.9%, and signs of speedy recovery are still unlikely. For Makro, the year 2013 has marked another important milestone with CP All Public Company Limited replacing the SHV Nederland B.V. as the Company’s major shareholder in late June. However, Makro continued to be committed to our “Customer Centric” strategy and retain the mission “To be the 1 st Choice Supplier to our Registered Food Professionals”, and the Company will continue to focus on existing development projects that best contribute to strengthening the organisation over the long term. Since 2012, the Company has introduced a new store format, Makro foodservice Store, to provide comprehensive solution to food service professionals, which is in line with Company’s strategy. The first Makro foodservice Store in Hua Hin has since been well accepted by the targeted customers and it has performed in accordance to Company’s expectation. It also
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