Singha Estate Public Company Limited develops our business
based on harmonious
coexistence in respect of economy, society, and the environment.
Mr. Petipong Pungbun Na Ayudhya
Independent DirectorChairman of the Corporate Governance
and Sustainable Development Committee
Mrs. Thitima Rungkwansiriroj
Chief Executive Officer
Member of the Corporate Governance
and Sustainable Development Committee
Message from Chairman of Corporate Governance and Sustainable Development
Committee and Chief Executive Officer
The COVID-19 pandemic has persisted for the
second year now, forcing both the public and private sectors as well as the civil
society to further adapt to the “now normal” throughout 2021. During the year, Singha
Estate modified its business strategy to move forward amid the turmoil. Concurrent to
achieving its balanced business growth, the Company reached out to provide more support
to the Thai society in the time of challenges.
Singha Estate joined hand with the Social
Security Office to allocate a section at its office building for public service i.e., a
vaccination corner for employees of tenants who are insured persons under the social
security law as well as the public, aiming to accelerate the vaccination rate and to
offer enhanced accessibility for people. In this regard, the occupational health measure
of Singha Estate was imposed in compliance with the standards of the Department of
Disease Control, the Ministry of Public Health, to ensure strict adherence of building
occupants and visitors and to strengthen the confidence of all stakeholders. Meanwhile,
the Company lent a hand to food shop tenants throughout the year through a continuous
stream of ordering of take-away meals from their shops to be delivered to the medical
personnel and care providers as well as patients at field hospitals in Bangkok, with an
aim to provide comfort for both their body and mind with the freshly-cooked food. We
understood how these tenants have endured hardship from the plunging traffic of building
users during the pandemic due to the work-from-home policy of various companies. Thus,
not only we helped eased their cashflow issue with our consistent purchases, but we also
kept boosting their business visibility, which could support them to stay afloat in a
long run. Singha Estate ensured that all voices were heard, especially those of
customers, suppliers, and the community; and collaboration was made with partners and
stakeholders to minimize any impact and to mutually overcome any obstacles, which was in
alignment with our vision to be “Entrusted and Value Enricher.”
Singha Estate recorded the year 2021 as a
milestone year where its building blocks were rearranged for sustainable development.
The Company achieved synergy within the value chain in accordance with its 5-year
sustainable development roadmap (2021-2025). This was the year where the “Supplier Code
of Conduct” was introduced as the guideline for practice for suppliers in line with the
standard of Singha Estate. The Company also joined force with stakeholders in the same
industry through the Circular Economy in Construction Industry (CECI) to ensure optimal
management of construction debris according to the SDG 12: Sustainable consumption and
In 2021, Singha Estate joined the Global
Compact Network Thailand (GCNT)--the largest sustainability network established by the
United Nations. The Company, along with the GCNT members, declared the intention for
prevention and correction of climate change issue, the launch of measures for the
greenhouse gas emission management as well as reduction, and the pledge of net zero
emission commitment within the year 2050. The action bespoke our determination on
environmental engagement and synergy with all stakeholders; and this collaboration was
forged for a stronger lever of success.
The Company spent the year reinforcing its
business foundation for the property development business, with a sharp focus on
expansion of its residential portfolio as well as the extension to its latest venture
i.e., the industrial estate and infrastructure portfolio.
Land preparation is an essential process of
real estate project development. At Singha Estate, it is equally important that we
preserve the natural abundance and biodiversity of each piece of land, including
savaging perennial trees by integrating them into the master design, or carefully move
and replant them in a safer and proper area.
Perennial tree conservation has been the long-standing practice of Singha Estate.
However, 2021 was the first year we introduced the perennial tree registration of the
plants under our care. This latest movement formed part of the Company’s various
measures to minimize the impact from the climate change; and it is the living testament
of our unwavering goal to save as many big trees as possible in all land development
projects. We hope it could inspire other sectors to follow suit, which will foster the
unity of action to counter the climate change issue.
The industrial estate and infrastructure
business was the latest growth of Singha Estate, echoing its vision to engage in the
business following the harmonious co-existence philosophy and sustainable development.
The Company opted for a green technology i.e., the co-generation power plant, for the S
Angthong Industrial Estate. The eco-friendly tech of the Company would attract and
encourage potential tenants as it enables a greener operation for their upstream
business. It also enhances the energy security, which is vital to the progress of the
nation as well as the strengthened competitiveness of the private sector, leading to the
genuine sustainability. The year 2022 is dedicated to the establishment of an
Albeit shifting the stress to the impact on
cities and residential business; Singha Estate continued its care for the sea and marine
biodiversity. The SeaYouTomorrow: Tomorrow’s Sea is in Your Hands initiative has been
carried out for the 4th year in collaboration with a subsidiary, S Hotels and Resorts
Public Company Limited (SHR), whose business is actively involved with the sea and
marine natural resources. In 2021, Singha Estate cooperated with the Phuket Marine
Biological Center under governance of the Department of Marine and Coastal Resources,
and the Department of National Parks, Wildlife and Plant Conservation to launch the SOS:
Save Our Shark project. An office was set up at the Marine Discovery Centre (MDC) of the
SAii Phi Phi Island Village to initiate the program with a study and nursing of the
“brownbanded-bamboo shark.” In this connection, Singha Estate, on behalf of the private
sector, is determined to share its area of operation for the research and study
beneficial to shark conservation, which could facilitate an increase of
brownbanded-bamboo shark population and serve as symbol to raise awareness on rare
species conservation. The program aimed to provide a learning space for youth as well as
community members, and to build the balance of nature, which was in accordance with the
annual plan and the long-term goal of the Company to provide the source of learning, to
create understanding, and to engage with all stakeholders.
Our resolute commitment to achieve the
equilibrium of business, quality society, and sustainable environmental care was
recognized as Singha Estate was listed on the Thailand Sustainability Investment (THSI)
rating for the 3rd consecutive year. It was also a 3-year streak that the Company
secured the 5-star rating from the Corporate Governance Report (CGR) assessment.
Moreover, we were honored to receive the Active Participation Award in recognition of
the Vibhavadhi Zero Waste project, which witnessed the continual and solid synergy as
well as dedication for waste management of all parties to the network and concrete
contribution to the sustainable social progress.
Singha Estate hereby anchors its affirmation to
deliver a refined value while sustaining the equilibrium of the economy, society, and
environment. The Company places priority on securing trust of stakeholders while
enriching lives and tomorrow-- the legacy to be passed to the next generations.
Singha Estate contributes to development of urban community and public infrastructure, which translates to higher volume of economic activities within the community and nationwide and drives further expansion of the healthy growth and sustainable economic network for all parties.
Singha Estate enriches the quality living and quality society by obtaining in-depth insight of different social geography, ensuring active engagement with the community, and building more job opportunities for all stakeholders in locations of our business operations to promote sustainable development.
Singha Estate integrates environmental preservation in its end-to-end process, with comprehensive coverage from land-based activities to marine natural resources, with its ultimate goal being preservation of biodiversity and addressing climate change in accordance with the concept of “SeaYouTomorrow: The Future of the Sea is in Your Hand”.
Engage in business with responsibility toward stakeholders throughout the supply chain
Goals and targets
SUSTAINABLE DEVELOPMENT GOALS AND TARGETS Singha
Estate prepared the 5-year sustainable development plan (2021-2025) in alignment with its
business plan with adherence to the sustainable development goals of the United Nations (SDG
2030), both of which serve as the beacon for the balanced growth of businesses and
sustainability of Singha Estate on its foundation, underpinned since its business inception.
Evaluation of impact on health and wellbeing of stakeholders before, during, and
after construction or operations of all projects.
AND ECONOMIC GROWTH
Encouragement for diversity and equality in employment and/or promotion of local
employment to drive a strong local economy.
AND CLEAN ENERGY
Introduction of innovations and technologies to increase clean energy ratio in
Establishment of quality cities, uplifting quality of life and lifestyle through
introduction of projects with safe and eco-friendly designs, sound living space
as well as public green space with universal access in order to deliver quality
society in and outside its office complexes and proximity.
Prioritization for optimal natural resource consumption; enhanced efficiency in
consumption of water, construction materials, and other resources, and
utilization of eco-friendly products.
LIFE BELOW WATER
Raising awareness and encouragement for changes related to impact on ocean and
marine resources via initiatives introduced under the concept of SeaYouTomorrow.
Design, improvement, and construction of
projects by taking into account the greenhouse gas emission, solar energy
management, and reduction of high carbon emission activities.
LIFE ON LAND
Conservation of large-sized perennial trees in all projects of Singha Estate by
incorporating them as a part of project or relocated to suitable areas, and
registration of big trees under care of Singha Estate.
AND STRONG INSTITUTIONS
Adherence to good corporate governance and anti-corruption guideline and
FOR THE GOALS
Collaboration with contractors, suppliers, and stakeholders throughout the
supply chain through policy issuance, governance, and mutual exchange of
knowledge and know-how.
FRAMEWORK FOR SUSTAINABILITY DEVELOPMENT
To ensure that Singha Estate constantly delivers concrete results and synchronized direction of
sustainable development progress, the Company has determined the framework for sustainable development
with coverage on economy, corporate governance, environment, and social aspects. The Framework was
approved by the CG & SD Committee; and it comprises 3 key pillars
The SeaYouTomorrow initiatives incorporate environmental sustainability
with the focus on resource optimization in the most efficient manner, and minimized
impact from construction of office buildings, residential buildings, or land-based other
real estates, which may impact the marine resource and climate change chain reaction.
Hence, the SeaYouTomorrow initiatives were brought about for the purpose of concrete
water and marine life conservation as well as end-to-end and integrated environmental
care. The year 2021 saw the addition of SDG 15: Life on land to mark the venture to the
industrial estate and infrastructure business as well as the enhanced focus on
horizontal residential property development.
Enriching living quality includes social sustainability through all
kinds of business operation designed to enrich the quality of life of stakeholder inside
and outside the organization, including employees and staffs, contractors, tenants,
customers, residents, and surrounding communities. Relevant dimensions are hygiene and
safety, quality living, self-advancements, career and income opportunity and so forth in
alignment with prosperous and sustainable growth of Singha Estate. In 2021, the Company
added the SDG 3: Health and wellbeing to the framework to reflect its emphasis on
enriching life, health, and wellbeing for all stakeholders.
Good governance extends to sustainable governance, encouragement of
participation in supply chain, and establishment of sustainability network. Also
included are fair treatment for trade partners, compliance with laws, rules, regulations
as well as international protocols, respect for human rights and privacy of
stakeholders, and prevention of violation or discrimination.
Singha Estate engages in development of various property
segments, including residential, commercial & retails, hospitality, and the industrial estate &
infrastructure businesses. The Company has presence in Thailand and overseas and therefore, it is
essential that we take into account both positive and negative impact throughout our supply chain.
Conservation of local wisdom and cultural heritage
Ethics and integrity
Respecting human rights
Privacy of Stakeholders
Governance - Good Governance
Social - Living Quality
Environment - SeaYouTomorrow
PARTNERSHIP AND ENGAGEMENT
Our partners are actively involved in collaboration and recognizing how to help, restore and
preserve the environment for sustainability..
SINGHA ESTATE is committed to the UN Global
responsibility initiative and its principles in the areas of human rights, labor, the
max future co.ltd
Circular Economy in Construction Industry
Department of Marine and Coastal Resources
Thailand Bio-Diversity Network Alliance
Vibhavadi Zero Waste