Surapon Foods Public Company Limited had emphasized closely on inventory management, although shrimp processing industry volatilized heavily in 2003, for example, more import shrimp from China and India in the first quarter, development of shrimp species namely Vannamei replacing for black tiger shrimp, Anti Dumping Act of U.S.A., etc. These impacts on the Company’s operation that are unable to reach the goal. Besides the asset impairment of a subsidiary (shrimp farm) is one of the major factors of loss in previous year.

     However, the outcome of improvement of management as well as business plan throughout the last year including the dedication of Management Committee will achieve the target in 2004. The

     Company continues to step forward inexhaustible to build up higher business growth as a response to our shareholders, customers and all stakeholders. For business plan in 2004, the Company emphasizes not only on product quality standard but also traceability in order to convince the customers’ trust to food safety. In addition, Enterprise Resources Planning Solutions (ERP) which will operate in full system will increase efficiency of management.

     On behalf of Surapon Foods Public Company Limited, I would like to express our gratitude to all shareholders, customers and everyone in the supply chain who kindly support us so we can build up the business value to compete with other companies worldwide.