Message from Chairman
STGT may have only been listed on the Stock Exchange of Thailand for less than a year, but has been producing and distributing gloves to customers worldwide for more than 30 years. After years of steady growth, STGT is now the world’s third largest glove producer, producing and distributing high quality gloves to customers in over 140 countries and proudly representing Thailand on the global stage.
While gloves are still predominantly used for medical purposes, in the current environment of heightened health and hygiene awareness, they are widely used in various industries and sectors of society and have even become a household mainstay. Although a majority of what STGT produce are classified as medical gloves, our product portfolio encompasses a wide range of gloves that suit a variety of applications and preferences.
Aside from a focus on innovative production technology that satisfies international standards, STGT is proudly environmentally-conscious. About 65% of the gloves produced by STGT are latex gloves, which are biodegradable and do not leave toxic contaminants in the environment. Our use of woodchips, which are biomass, as fuel in our production process means we are minimizing our fossil fuel consumption and our contribution to global warming. In addition, our production of latex gloves, which uses as raw material concentrated latex, helps boost demand for natural rubber and creates value-added products that are exported around the world, benefiting rubber farmers as well as Thailand’s economy.
A combination of our production capacity expansion plan and marketing prowess allowed us to capitalize on the surge in demand for gloves following the outbreak of COVID-19 and led us to post a record performance in 2020. For 2021, the extraordinary general meeting of shareholders approved quarterly dividend payment at the payout rate of at least 50% of net profit. This should make STGT an attractive dividend stock in the eyes of potential investors.
STGT is committed to the principles of good corporate governance and is focused on growth to strengthen our leading position in the global glove industry. We operate with transparency and take account of all stakeholders. We believe that our ESG compliance practices would lead to a sustainable growth.
On behalf of the Board of Directors of STGT, I would like to thank all stakeholders, including the governmental agencies that have supported and promoted Thai businesses, contributing to Thailand’s economic growth. I would like to thank our customers and suppliers who have trusted in our products and services. Thank you my fellow directors, management and all employees who have been working with dedication and contributed to the success of STGT. Thank you financial institutions and all shareholders who have placed their trust in STGT. We believe that we can move forward as a leading company on the Stock Exchange of Thailand and a key player in the global glove industry.
Prof. Dr. Weerakorn Ongsakul
Chairman of the Board of Directors
Sri Trang Gloves (Thailand) Plc.