General Information

Message from the Board of Directors

Even the economic fluctuation throughout the year 2010, especially for the first half of the year that there were not only internal economic problem, but also political turmoil, and continuous economic downturn global wide. Such negative factors, inevitably haul down real estate industry as a whole. However, the atmosphere is apparently picking up in the second half of the year revealing a significant growth of the industry’s revenue which is the result from entrepreneurs’ adaptation as well as the Government’s economic stimulus measure to revive the country’s economy.

Major Development Public Co., Ltd. (MJD) has been facing the economic fluctuations; however; it has adjusted the strategy and developed its products in order to continually respond to consumer’s needs. A deliberation concern in the company’s good governance, the adaptive operation to respond to dynamic situations, as well as the transparency management, are keeping the company able to maintain its satisfying performance. In 2010, MJD achieved the total revenue recognition at Baht 2,997.86 million, or 12.84% growth of the same period last year. Perceived revenue recognition from 9 projects – Fullerton Sukhumvit, Manhattan Chidlom, Watermark Chaopraya River Tower A and Tower B, Wind Sukhumvit 23, Wind Ratchayothin, Mykonos Hua Hin, Aguston Sukhumvit 22, and Marrakesh Hua Hin Residences, yield a net profit of Baht 406.61 million with backlog at the end of the year for over Baht 4,170.52 million. Along with interim dividend of the first 6 month of 2010 that can be paid at Baht 0.15 per share, besides of the existing projects, more housing units of Mykonos Hua Hin and Wind Sukhumvit 23 are staring to transfer to our customers which is regarded as another step of success that the company has committed. It is furthermore growing constantly by opening up another project namely Collezio Sathorn-Pipat which also has received positive feedback from consumers.

Business overview for the year 2010: From the reviving economy that creates more confidence feeling to Thai and international customers; unless a wide area disruption from political impact; MJD is now ready to move on to more new projects. According to the plan, it is expected to launch at least 2-3 projects to drive the company to a sustainable growth. A number of projects – Reflection Jomtien beach Pattaya, Royce Private Residences, and Collezio Sathorn-Pipat – are anticipated to contribute to the income increase which ensures the positive revenue level and continuous growth of the company. We are also convinced that our current and new projects would receive positive feedback from consumers with ongoing sales in accordance to the real estate direction which is believed to be growing well in the year 2010.

Moreover, in the year 2010, MJD is reaching its 11th year of business running. Experiences from over 10 years have been accumulating and forming into professionalism, business integrity, well-developed operation system with international standard, good governance, management transparency, and efficient audit that can create trustworthiness. Our quality projects with growing performance is the proof to our determination to develop the quality in order to offer the best products to customers for the stable and sustainable growth of the company and fulfill our vision to be a leading real estate company of the country.

Lastly, on behalf of Major Development Public Co., Ltd. and Board of director, we would like to thank you, shareholders, investors, customers, financial institutes, as well as all employees for your continuous support. The company is committing to develop quality projects, create good reputation, best benefit, and maintain fairness to all parties and all stakeholders that we have always been holding in mind.

Board of Directors
Major Development Public Company Limited

• More than 30 years of experience in real estate business
• DAP Course, Class of 50, on 25 January 2006
Working Experience
Chairman of the Board of Directors and Chairman of the Executives, Major Development Public Company Limited

Mr. Chumroen Poolvoralaks

Chairman of the Board of Directors and Chairman of the Executives Committee

• More than 15 years of experience in real estate business
• DAP Course, Class of 50, on 25 January 2006
Working Experience
• Vice Chairman of the Board of Directors and Vice Chairman of the Executives, Major Development Public Company Limited

Mrs. Prathin Poolvoralaks

Vice Chairman of the Board of Directors and Deputy Chairman of the Executives Committee

• Master of Civil Engineering, Massachusetts Institute of Technology (MIT)
• Master of Business Administration (MBA), Depaul University
• DAP Course, Class of 50, on 25 January 2006
Working Experience
• CEO, Major Development Public Company Limited

Mr. Suriyon Poolvoralaks

Director, Executive Director and Chief Executive Officer

• Doctor of Philosophy, Economics, University of Southern California (USC)
• DAP Course, Class of 59, on 24 October 2006
Working Experience
• Managing Director, Major Development Public Company Limited

Dr. Suriya Poolvoralaks

Director, Executive Director and Managing Director


• Master of Business Administration (MBA), Illinois State University
• DAP Course, Class of 49, on 2 December 2005
Working Experience
• EVP-Corporate Development Division, Major Development Public Company Limited

Miss Petrada Poolvoralaks

Director, Executive Director and Executive Vice President

• BA in Marketing, Faculty of Commerce and Accountancy, Chulalongkorn University
• DAP Course, Class of 51, on 22 February 2006
Working Experience
• EVP-Marketing Division, Major Development Public Company Limited
• Deputy Managing Director, GC Distribution Co.,Ltd.

Mrs. Jitradee Poolvoralaks

Director, Executive Director and Executive Vice President

• Certificate in Mini MPA, Thammasart University
• Certificate in State Budget Management, University of California,Los Angeles (UCLA)
• DAP Course, Class of 50, on 25 January 2006
Working Experience
• Chairman of the Audit Committee Member, Major Development Public Company Limited
• Member of Parliament for Bangkok Metropolitan

Mr. Chanin Roongsang

Audit Committee


• MSc in Information Technology, Boston University
• Master of Business Administration (MBA), Boston University
• DAP Course, Class of 50, on 25 January 2006
Working Experience
• Audit Committee Member, Major Development Public Company Limited
• Executive Director, Manomont Real Estate Co., Ltd.
• Trade Mark Sub-Committee, Ministry of Commerce
• Managing Director, Lewmanomont Law Office Co., Ltd.

Mr. Sanguankiat Lewmanomont

Audit Committee

• MBA, Concentrate in Marketing and Finance SASIN Graduate Institute of Business Administration of Chulalongkorn University
• BBA, Concentrate in Management, Commerce and Accountancy of Chulalongkorn University
•Thai Intelligence Investors Program, Thai Investors Association
• Director Diploma (Fellow Member) , The Institute of Directors , IOD (DAP, FND, DCP, MIA)
• Professional CFO Diploma, National Institute of Developments Administration (NIDA)

Working Experience
• Audit Committee Member, Major Development Public Company Limited
• Chief Executive Officer (CEO), Cheer (Thailand) Company Limited
• Director, Thaiha Public Company Limited
• Director, Prodigy Public Company Limited
• Director, Chama Asset Company Limited
• Fellow Member, The Institute of Directors

Mr.Vorravuth Tangpiroonthum

Audit Committee

Corporate Governance