Annual sahacogen 2552(th eng)

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CONTENTSGeneral Information 1

Message from the Chairman 3

Report of the Audit Committee 5

Supplementary Information & Shareholding in Subsidiaries 7

Nature of Business 9

Performance Review & Revenue Structure 9

Shareholders and Management Structure 13

Transaction with Related Companies 26

Risk Factors and Management 33

Corporate Governance 37

Corporate Social Responsibility 67

Performance Summary and Financial Highlights 71

Financial Ratio 73

Analysis of Operating Results and Financial Status 75

Report on the Board of Directorsû Responsibility on Financial Statements 79

Auditor Fees of the Auditor 81

Financial Statements 83

Sahacogenûs Board of Directors 124

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¢âÕ¡Ÿ≈∑—Ë«‰ª/General Information1

∫√‘…—∑ À‚§‡®π (™≈∫ÿ√’) ®”°—¥ (¡À“™π)Sahacogen (Chonburi) Public Company Limited

™◊ËÕ∫√‘…—∑ : ∫√‘…—∑ À‚§‡®π (™≈∫ÿ√’) ®”°—¥ (¡À“™π)™◊ËÕ¬àÕ : SCG (®¥∑–‡∫’¬π„πμ≈“¥À≈—°∑√—æ¬å·Ààßª√–‡∑»‰∑¬)‡≈¢∑–‡∫’¬π∫√‘…—∑ : 0107545000306 (∫¡®. 40854500703)«—π∑’Ë®¥∑–‡∫’¬π°àÕμ—Èß∫√‘…—∑ : 20 æƒ»®‘°“¬π 2539«—π∑’Ë®¥∑–‡∫’¬π‡ªìπ∫√‘…—∑¡À“™π : 4 μÿ≈“§¡ 2545«—π∑’Ë‡ªî¥¢“¬Àÿâπ„πμ≈“¥À≈—°∑√—æ¬å : 7 ¡°√“§¡ 2547ª√–‡¿∑∏ÿ√°‘® : ¥”‡π‘π∏ÿ√°‘®º≈‘μ·≈–®”Àπà“¬‰øøÑ“·≈–‰ÕπÈ”∑’Ëμ—Èß ”π—°ß“π„À≠à : 636 À¡Ÿà∑’Ë 11 ∂ππ ÿ¢“¿‘∫“≈ 8 μ”∫≈ÀπÕß¢“¡ Õ”‡¿Õ»√’√“™“ ®—ßÀ«—¥™≈∫ÿ√’ 20230‚∑√»—æ∑å : 66-3848-1555‚∑√ “√ : 66-3848-1551‡«Á∫‰´∑å∫√‘…—∑ : www.sahacogen.com∑ÿπ®¥∑–‡∫’¬π·≈–∑ÿπ∑’Ë™”√–·≈â« : 955 ≈â“π∫“∑ (Àÿâπ “¡—≠ 955,000,000 Àÿâπ ¡Ÿ≈§à“Àÿâπ≈– 1 ∫“∑)

∫ÿ§§≈Õâ“ßÕ‘ßÕ◊ËπÊπ“¬∑–‡∫’¬πÀÿâπ : ∫√‘…—∑ »Ÿπ¬å√—∫Ω“°À≈—°∑√—æ¬å (ª√–‡∑»‰∑¬) ®”°—¥

62 Õ“§“√μ≈“¥À≈—°∑√—æ¬å·Ààßª√–‡∑»‰∑¬ ™—Èπ 4 ·≈– 7 ∂ππ√—™¥“¿‘‡…°·¢«ß§≈Õß‡μ¬ ‡¢μ§≈Õß‡μ¬ °√ÿß‡∑æœ 10110‚∑√»—æ∑å 0-2229-2800 ‚∑√ “√ 0-2359-1259

∑’Ëª√÷°…“∑“ß°ÆÀ¡“¬ : ∫√‘…—∑ ∑’Ëª√÷°…“°ÆÀ¡“¬·™π‡≈Õ√å·≈–∑Õß‡Õ° ®”°—¥™—Èπ 7 Õ“§“√∫ÿªº®‘μ 20 ∂ππ “∑√‡Àπ◊Õ °√ÿß‡∑æœ 10500‚∑√»—æ∑å 0-2266-6485 ‚∑√ “√ 0-2266-6483

ºŸâμ√«® Õ∫¿“¬„π : ∫√‘…—∑ Õ∫∫—≠™’∏√√¡π‘μ‘ ®”°—¥267/1 ∂ππª√–™“√“…Æ√å “¬ 1 ∫“ß ◊ËÕ °√ÿß‡∑æœ 10800‚∑√»—æ∑å 0-2587-0808 ‚∑√ “√ 0-2586-0301

ºŸâ Õ∫∫—≠™’ : π. . ∑‘æ“«—≈¬å π“π“πÿ«—≤πå ‡≈¢∑–‡∫’¬πºŸâ Õ∫∫—≠™’ 3459∫√‘…—∑ ”π—°ß“π ‡Õ‘π å∑ ·Õπ¥å ¬—ß ®”°—¥ 193/136-137 ∂ππ√—™¥“¿‘‡…° °√ÿß‡∑æœ 10110‚∑√»—æ∑å 0-2264-0777 ‚∑√ “√ 0-2264-0789-90

∂“∫—π°“√‡ß‘π : ∏π“§“√ °√ÿß‡∑æ ®”°—¥ (¡À“™π) “¢“ ”π—°ß“π„À≠à‚∑√»—æ∑å 0-2626-3688 ‚∑√ “√ 0-2231-4018∏π“§“√° ‘°√‰∑¬ ®”°—¥ (¡À“™π) “¢“ »√’√“™“‚∑√»—æ∑å 038-762 787 ‚∑√ “√ 038-762 791

Name : Sahacogen (Chonburi) Public Company LimitedStock Code : SCG (Listed on the Stock Exchange of Thailand - SET)Registered Number : 0107545000306 (Bor Mor Jor. 40854500703)Registered Date : November 20, 1996Registered Date to Public Company : October 4, 2002First Trading in the Stock Market : January 7, 2004Type of Business : Power PlantHead Office Location : 636 Moo 11, Sukaphiban 8 Road, Nongkharm, Sriracha, Chonburi 20230

Tel : 66 3848 1555 Fax : 66 3848 1551Website : www.sahacogen.com

Registered and Paid-up Capital : 955 Million Baht, including 955,000,000 common shares, Baht 1 per share

ReferenceSecurity Registrar : Thailand Securities Depositary Co.,Ltd. 62 The Stock Exchange of Thailand Building,

4Th & 7th Floor, Ratchadapisek Road, Klongtoey, Bangkok 10110Tel : 0-2229-2800 Fax : 0-2359-1259

Legal Consultant : Chandler & Thong-Ek 7th Floor, Bubhajit Building 20 North Sathorn Road,Bangkok 10500 Tel : 02-266-6485 Fax : 02-266-6483

Internal Audit : Dharmniti Auditing Co.,Ltd. 267/1 Pracharaj Sai 1 Road, Bangsue,Bangkok 10800 Tel : 0-2587-8080 Fax : 0-2586-0301

Auditor : Ms. Thipawan Nananuwat Authorized Auditor Registration No. 3459Ernst & Young Office Limited 193/136-137 Rajadapisek Road, Bangkok 10110Tel : 0-2264-0777 Fax : 0-2264-0789-90

Financial Institution : Bangkok Bank Public Company Limited, Head OfficeTel : 0-2626-3688 Fax : 0-2231-4018Kasikornbank Public Company Limited, Sriracha BranchTel : 038-762 787 Fax : 038-762 791

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This annual report is printed on Green Series paper made from 100% Eco Fiber

Message from the Chairman

In spite of the economic uncertainty and slow-down in 2009, mainly resulting from the financial crisis in the UnitedStates, Sahacogen achieved a revenue of 3,046 million Baht representing 99.6% of turnover compared to the previous year.Net profit was 264.5 million Baht which is 1.30 % higher than 2008.

During the year, the Board of Directors followed closely the progress and position of the management’s operationalactivities. It then considered and approved respective investment policy, risk management, and cash-flow management tobe appropriately flexible, have good corporate governance, as well as being able to follow both targets and plannedstrategy.

Moreover, the board looked for opportunities to create business value for the company, especially in energy utilization,and alternative energy. Consequently, two co-generation biomass power projects were approved for investment in Lamphunand Kamphaengphet provinces.

Furthermore, to encourage and inspire more participation in conserving nature and improving the environment, theCompany has become a knowledge center and leader for the çCool the Worldé environmental campaign. Also, it motivatesother Saha Group companies to co-participate in carbon reduction activities.

The board would like to thank all shareholders, trading partners, and both government and private entities for theircontinued trust and support, as well as for the effort of the management, and all the staff. Hence, the board is determinedto lead the company continuously to long term stability and prosperity.

Mr. Boonkiat ChokwatanaChairman

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Report of the Audit CommitteeThe Board of Directors at its meeting 2/2009 held on May 6, 2009 resolved to appoint its audit committee consisting

of 5 independent directors whose qualifications are in compliance with guidelines established by the SEC. The membersof the audit committee are:

1) Mr. Nophorn Bhongsvej Chairman of Audit Committee

2) Pol. Gen. Somchai Prabhasabhakdi Audit Committee

3) Mr. Amorn Asvanunt Audit Committee

4) Mr. Surong Ongkosit Audit Committee

5) Mr. Niwat Patanasemakul Audit Committee

The companyûs audit charter was revised to be in accordance with the regulations and announcements of theSEC and SET and approved by the Board of Directors on February 27, 2009. During the fiscal year of 2009, 4 meetingswere held with the internal auditor and management to review the adequacy of the internal control process and the resultsof the quarterly audit as per previously approved audit program for Sahacogen and subsidiary company. The scope of thereview covered the effectiveness of the internal control process, the deficiencies and the follow up on the rectifications ofthe shortfalls. The risk management process was also reviewed with the internal auditor and management and found to beacceptable and effective.

The audit committee also reviewed the quarterly performance prior to its presentation to the Board together with theinternal audit results. Focus is made on the review of related transactions that are found to have been conducted at armûslength and to the benefit of the company. Additionally attention is paid to ensure that the financial statements are preparedin accordance with the generally accepted accounting principles, are transparent and with adequate disclosures to theshareholders and the public. The overall results of the internal audit for 2009 by the Dhammnitti has been consistently ratedas above acceptable in all areas of inspection as per previously approved audit program.

The audit committee also works closely with the internal auditor on the audit program and scope for the coming yearto further strengthen the effectiveness and adequacy of the internal control process and management of risks. Additionallythe audit committee also reviews the audited financial statements with the external auditor whose independence andqualifications are in accordance with the announcements of the SET on independent auditor. In this regard, the auditcommittee recommends that the Board consider the proposal to the shareholders to elect Ernst & Young as the companyûsindependent auditor for 2010 at the fee of Baht 740,000 unchanged from the previous year.

Mr. Nophorn Bhongsvej

Chairman of Audit Committee

6

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√âÕ¬≈– 10 ¢÷Èπ‰ª

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∑’Ëμ—Èß ”π—°ß“π„À≠à 129 À¡Ÿà∑’Ë 1 μ”∫≈ππ∑√’ Õ”‡¿Õ°∫‘π∑√å∫ÿ√’ 91 À¡Ÿà∑’Ë 8 μ”∫≈ÀπÕßÀ—««—«

®—ßÀ«—¥ª√“®’π∫ÿ√’ 25110 Õ”‡¿Õæ√“π°√–μà“¬ ®—ßÀ«—¥°”·æß‡æ™√ 62110

‚∑√»—æ∑å 66-3729-0244 66-5570-1246

‚∑√ “√ 66-3729-0245 66-5570-1246

∑ÿπ®¥∑–‡∫’¬π 250 ≈â“π∫“∑ 5 ≈â“π∫“∑

ª√–‡¿∑Àÿâπ “¡—≠ “¡—≠

®”π«πÀÿâπ∑’ËÕÕ°®”Àπà“¬ 25,000,000 500,000

®”π«πÀÿâπ∑’Ë∂◊Õ (®”π«πÀÿâπ) 24,999,993 374,997

®”π«πÀÿâπ∑’Ë∂◊Õ (®”π«π‡ß‘π∫“∑) 249,999,930 3,749,970

—¥ à«π°“√∂◊ÕÀÿâπ (%) 99.99 75

√“¬™◊ËÕ¢Õß§≥–°√√¡°“√∫√‘…—∑¬àÕ¬ ∫√‘…—∑ À‚§‡®π °√’π ®”°—¥ ≥ «—π∑’Ë 31 ∏—π«“§¡ 2552

™◊ËÕ - °ÿ≈ μ”·Àπàß

1. π“¬∫ÿ≠‡°’¬√μ‘ ‚™§«—≤π“ ª√–∏“π°√√¡°“√

2. π“¬ ÿ®√‘μ ªí®©‘¡π—π∑å °√√¡°“√

3. π“¬∏’√–»—°¥‘Ï «‘°‘μ‡»√…∞å °√√¡°“√

4. π“¬«‘‚√®πå ∏’√«—≤πå«“∑’ °√√¡°“√ºŸâ®—¥°“√

5. π“¬∑πß »√’®‘μ√å °√√¡°“√

6. π“¬Õ—μ∂°√ °≈—Ëπ§«“¡¥’ °√√¡°“√

√“¬™◊ËÕ¢Õß§≥–°√√¡°“√∫√‘…—∑¬àÕ¬ ∫√‘…—∑ À°√’π øÕ‡√ ∑å ®”°—¥ ≥ «—π∑’Ë 31 ∏—π«“§¡ 2552

™◊ËÕ - °ÿ≈ μ”·Àπàß

1. π“¬ ÿ®√‘μ ªí®©‘¡π—π∑å ª√–∏“π°√√¡°“√

2. π“¬«‘‚√®πå ∏’√«—≤πå«“∑’ °√√¡°“√ºŸâ®—¥°“√

3. π“¬∏’√–»—°¥‘Ï «‘°‘μ‡»√…∞å °√√¡°“√

4. π“¬Õ—μ∂°√ °≈—Ëπ§«“¡¥’ °√√¡°“√

5. π“¬®ÿ¡æØ μ—≥¡≥’ °√√¡°“√

6. π“ß “«ª≥—∞√’ ®ÿ≈≈–æ√“À¡≥å °√√¡°“√

¢âÕ¡Ÿ≈Õ◊ËπÊ ·≈– —¥ à«π°“√∂◊ÕÀÿâπ„π∫√‘…—∑¬àÕ¬


7


Supplementary Information and Shareholding in SubsidiariesThe investment and shareholding in subsidiaries of which their operations are significant and the company has held

more than 10% of share.

Name Sahacogen Green Co., Ltd. Sahagreen Forest Co., Ltd.Type of Business Biomass Fired Power Plant Biomass Fired Power PlantLocation 129 Moo 1, Nonsi, Kabinburi, 91 Moo 8, Nonghuawua, Phran Kratai,

Prachinburi 25110 Kamphaengphet 62110Telephone No. 66-3729-0244 66-5570-1246Fax No. 66-3729-0245 66-5570-1246Registered Capital 250 Million Baht 5 Million BahtType of Shares Common shares Common sharesNo. of Total Paid-up Shares 25,000,000 500,000No. of Shares held (shares) 24,999,993 374,997No. of Shares held (Amount Baht) 249,999,930 3,749,970Proportion (%) of Shares holding 99.99 75

The Board of Directors for Sahacogen Green Co., Ltd. as of December 31, 2009

Neme Position

1. Mr. Boonkiet Chokwatana Chairman

2. Mr. Sujarit Patchimnun Director

3. Mr. Thirasak Vikitset Director

4. Mr. Viroj Theeravatvatee Managing Director

5. Mr. Tanong Srichit Director

6. Mr. Atthakorn Glankwamdee Director

The Board of Directors for Sahagreen Forest Co., Ltd. as of December 31, 2009

Neme Position

1. Mr. Sujarit Patchimnun Chairman

2. Mr. Viroj Theeravatvatee Managing Director

3. Mr. Thirasak Vikitset Director

4. Mr. Atthakorn Glankwamdee Director

5. Mr. Joompot Tanmani Director

6. Ms. Panatri Julabparm Director

8

≈—°…≥–°“√ª√–°Õ∫∏ÿ√°‘®∫√‘…—∑ À‚§‡®π (™≈∫ÿ√’) ®”°—¥ (¡À“™π) ‡ªìπ∫√‘…—∑™—Èππ”∑’Ë¡ÿàß‡πâπ°“√¥”‡π‘π∏ÿ√°‘®º≈‘μ·≈–®”Àπà“¬‰øøÑ“·≈–‰ÕπÈ” ∑’Ë„ à„®

‘Ëß·«¥≈âÕ¡·≈–°“√æ—≤π“ —ß§¡ ‚¥¬¡’°“√∫√‘À“√®—¥°“√∑’Ë™à«¬≈¥μâπ∑ÿπ°“√º≈‘μ„Àâ°—∫‚√ßß“πÕÿμ “À°√√¡μà“ßÊ ∑’ËÕ¬Ÿà„π «π

Õÿμ “À°√√¡‡§√◊Õ Àæ—≤πå °“√≈¥ª√‘¡“≥§“√å∫Õπ∑’Ë°àÕ„Àâ‡°‘¥¿“«–‚≈°√âÕπ ‚¥¬„πªí®®ÿ∫—π¡’‚√ß‰øøÑ“æ≈—ß§«“¡√âÕπ√à«¡ (Cogeneration

Combined Cycle) ∑’Ë„™â°ä“´∏√√¡™“μ‘‡ªìπ‡™◊ÈÕ‡æ≈‘ß ¢π“¥°”≈—ß°“√º≈‘μ‰øøÑ“ Ÿß ÿ¥ 174 ‡¡°–«—μμå ·≈–‰ÕπÈ” 81 μ—πμàÕ™—Ë«‚¡ß μ—ÈßÕ¬Ÿà

„π‡¢μ «πÕÿμ “À°√√¡‡§√◊Õ Àæ—≤πå-»√’√“™“ μ”∫≈ÀπÕß¢“¡ Õ”‡¿Õ»√’√“™“ ®—ßÀ«—¥™≈∫ÿ√’ ®”Àπà“¬‰øøÑ“ 90 ‡¡°–«—μμå„Àâ°—∫

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®—¥®”Àπà“¬μàÕ‰ª„Àâ°—∫‚√ßß“πÕÿμ “À°√√¡μà“ßÊ „π «πÕÿμ “À°√√¡‡§√◊Õ Àæ—≤πå

πÕ°®“°π’È ∫√‘…—∑œ ¬—ß„Àâ§«“¡ ”§—≠°—∫°“√æ—≤π“°“√º≈‘μæ≈—ßß“π∑¥·∑π ”À√—∫„™â„π¿“§Õÿμ “À°√√¡ ‡æ◊ËÕ‡ªìπæ≈—ßß“π

∑“ß‡≈◊Õ° ·∑π°“√º≈‘μæ≈—ßß“π®“°‡™◊ÈÕ‡æ≈‘ß ‘Èπ‡ª≈◊Õß∑’Ë¡’√“§“ Ÿß¢÷ÈπÕ¬à“ßμàÕ‡π◊ËÕß ·≈–‡æ◊ËÕ‡ªìπ°“√μàÕ¬Õ¥∏ÿ√°‘®∑’Ë‡æ‘Ë¡¡Ÿ≈§à“°“√≈ß∑ÿπ

∫√‘…—∑œ ®÷ß‰¥â®—¥μ—Èß ∫√‘…—∑¬àÕ¬ ç∫√‘…—∑ À‚§‡®π °√’π ®”°—¥é ‡æ◊ËÕ¥”‡π‘π∏ÿ√°‘®°“√º≈‘μæ≈—ßß“πÀ¡ÿπ‡«’¬π ‚¥¬‰¥â‡√‘Ë¡¥”‡π‘π°“√

‚§√ß°“√º≈‘μæ≈—ßß“π®“°™’«¡«≈ ¢÷Èπ„πæ◊Èπ∑’Ë¢Õß «πÕÿμ “À°√√¡‡§√◊Õ Àæ—≤πå-≈”æŸπ ´÷Ëß‡ªìπ‚§√ß°“√∑’Ë¡ÿàß‡πâπ°“√º≈‘μæ≈—ßß“πÕ¬à“ß

¬—Ëß¬◊π ·≈–°“√¡’ à«π√à«¡®“°™ÿ¡™π Õ’°∑—Èß¬—ß‰¥â¥”‡π‘π‚§√ß°“√ª≈Ÿ°‰¡â‚μ‡√Á«‡æ◊ËÕ √â“ß·À≈àß‡™◊ÈÕ‡æ≈‘ß∑’Ë¡—Ëπ§ß ”À√—∫‚§√ß°“√º≈‘μæ≈—ßß“π

™’«¡«≈¢÷Èπ ‚¥¬√à«¡¡◊Õ°—∫ ∂“∫—π§âπ§«â“·≈–æ—≤π“º≈‘μº≈∑“ß°“√‡°…μ√·≈–Õÿμ “À°√√¡°“√‡°…μ√ ¡À“«‘∑¬“≈—¬‡°…μ√»“ μ√å ∑”°“√

«‘®—¬°“√ª≈Ÿ°‰¡â‚μ‡√Á« “¬æ—π∏ÿåμà“ßÊ ¿“¬„π‡¢μæ◊Èπ∑’Ë «πÕÿμ “À°√√¡‡§√◊Õ Àæ—≤πå ≈”æŸπ ·≈–°∫‘π∑√å∫ÿ√’

¿“«–°“√≥åμ≈“¥·≈–°“√·¢àß¢—π·¡â«à“‡»√…∞°‘®„π§√÷Ëßªï·√°¢Õßªï 2552 ™–≈Õμ—«Õ¬à“ß√ÿπ·√ß àßº≈„Àâª√‘¡“≥°“√„™â ‰øøÑ“ ‰ÕπÈ” ≈¥≈ßμ“¡ª√‘¡“≥°“√º≈‘μ

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∫√‘°“√„Àâ§”·π–π”¥â“π°“√„™â ‰øøÑ“·≈–‰ÕπÈ”„Àâ¡’ª√– ‘∑∏‘¿“æ Ÿß ÿ¥ “¡“√∂≈¥μâπ∑ÿπ°“√º≈‘μ‰¥â à«πÀπ÷Ëß √â“ß§«“¡æÕ„®„Àâ§Ÿà§â“

‡æ‘Ë¡¬‘Ëß¢÷ÈππÕ°‡Àπ◊Õ®“°§«“¡æÕ„®¥â“π√“§“√«¡∂÷ß √â“ß§«“¡‡™◊ËÕ¡—Ëπ„Àâ‚√ßß“πÕÿμ “À°√√¡∑—ÈßÀ¡¥„π «πÕÿμ “À°√√¡‡§√◊Õ Àæ—≤πå

»√’√“™“„π°“√‡≈◊Õ°´◊ÈÕ‰øøÑ“·≈–‰ÕπÈ”®“°∫√‘…—∑Õ¬à“ßμàÕ‡π◊ËÕß

º≈°“√¥”‡π‘πß“π·≈–‚§√ß √â“ß√“¬‰¥â √ÿª√“¬ß“πº≈°”≈—ß°“√º≈‘μ ª√‘¡“≥°“√º≈‘μ ·≈–Õ—μ√“°”≈—ß°“√º≈‘μ‰øøÑ“·≈–‰ÕπÈ”„πªï 2552

‰øøÑ“ ªï 2552 ªï 2551

°”≈—ß°“√º≈‘μμ‘¥μ—Èß (‡¡°–«—μμå) 174 174

ª√‘¡“≥æ≈—ßß“π‰øøÑ“ Ÿß ÿ¥∑’Ë “¡“√∂º≈‘μ‰¥â (‡¡°–«—μμå-™—Ë«‚¡ß/ªï) 1,524,240 1,528,416

ª√‘¡“≥æ≈—ßß“π‰øøÑ“∑’Ëº≈‘μÕÕ°®”Àπà“¬®√‘ß (‡¡°–«—μμå-™—Ë«‚¡ß/ªï) 950,228 974,744

Õ—μ√“°“√„™âª√–‚¬™πå (√âÕ¬≈–) 62.34 63.77

‰ÕπÈ” ªï 2552 ªï 2551

°”≈—ß°“√º≈‘μμ‘¥μ—Èß (μ—πμàÕ™—Ë«‚¡ß) 81 81

ª√‘¡“≥‰ÕπÈ” Ÿß ÿ¥∑’Ë “¡“√∂º≈‘μ‰¥â (μ—π/ªï) 709,560 711,504

ª√‘¡“≥‰ÕπÈ”º≈‘μ·≈– àßÕÕ°®”Àπà“¬®√‘ß (μ—π/ªï) 303,104 302,127

Õ—μ√“°“√„™âª√–‚¬™πå (√âÕ¬≈–) 42.72 42.46


9


Nature of BusinessSahacogen (Chonburi) Public Company Limited is a Small Power Producer (SPP) producing and distributing electricity

and steam. The existing natural gas fired cogeneration combined cycle type, located in Sriracha Saha Group Industrial Park,Nongkharm, Sriracha, Chonburi province, is capable of producing 174 megawatts of electricity and 81 tons of steam perhour. Currently, the company supplies of 90 megawatts of electricity to the Electricity Generating Authority of Thailand(EGAT), and supplies electricity and steam to Saha Pattana Inter-Holding PCL, the sole distributor of electricity and steamto factories in Sriracha Saha Group Industrial Park. The steam distributed by Sahacogen Power Plant is produced by ahighly efficient process, and suitable for substituting for the steam generated by boilers that use fuel oil, not only saving costfor the factories but also reducing green house gas that causes global warming.

With regard to business development, the company has placed significant interest in the renewable energydevelopment project to replace fossil energy source which is increasingly expensive. Therefore a subsidiary company,namely Sahacogen Green Co., Ltd., was established. The Lamphun Biomass to Energy Project, granted by local communityand industrial permit at Lamphun Saha Group Industraial Park, will be completed and operational in the first quarter of2011. Such project create sustainability and close participations of the community on providing and supplying agriculturalresidues to the power plant as well as benefit contributions from growing fast growing tree for sustainable fuel source.

Marketing and CompetitionDespite severe economic retardation in the first half of 2009, resulting in lower consumption of electricity and steam

in the industry sector, the company kept the customers satisfied by providing good services and advices on efficient useof electricity and steam, thus reducing their costs. With the customersû satisfaction and trust, they continue to purchaseelectricity and steam from the company.

Performance Review and Revenue StructureAs of 2009, its capacity and utilization are as following:-

Electricity 2009 2008

Installed Capacity (megawatt) 174 174

Maximum Capacity (megawatt-hour/year) 1,524,240 1,528,416

Actual Production (megawatt-hour/year) 950,228 974,744

Utilization Factor (percentage) 62.34 63.77

Steam 2009 2008

Installed Capacity (ton/hour) 81 81

Maximum Capacity (ton/year) 709,560 711,504

Actual Production (ton/year) 303,104 302,127

Utilization Factor (percentage) 42.72 42.46

10

√ÿª√“¬‰¥âÀ≈—°¢Õß∫√‘…—∑¬—ß§ß¡“®“°°“√®”Àπà“¬‰øøÑ“„Àâ°—∫°“√‰øøÑ“ΩÉ“¬º≈‘μ·Ààßª√–‡∑»‰∑¬ ·≈–°“√®”Àπà“¬‰øøÑ“·≈–‰ÕπÈ”„Àâ°—∫‚√ßß“π„π «πÕÿμ “À°√√¡‡§√◊Õ Àæ—≤πå-»√’√“™“ ‚¥¬„πªï 2552 ¡’√“¬‰¥â®“°°“√¥”‡π‘πß“π≈¥≈ß 6.88 ≈â“π∫“∑ ‡¡◊ËÕ‡∑’¬∫°—∫ªï 2551 ‡π◊ËÕß®“°√“¬‰¥â®“°°“√¢“¬‰ÕπÈ”≈¥≈ß

(Àπà«¬ : ≈â“π∫“∑)

º≈‘μ¿—≥±å ªï 2552 ªï 2551 ªï 2550

√“¬‰¥â √âÕ¬≈– √“¬‰¥â √âÕ¬≈– √“¬‰¥â √âÕ¬≈–

√“¬‰¥â®“°°“√¥”‡π‘πß“π

- ‰øøÑ“ (°“√‰øøÑ“ΩÉ“¬º≈‘μ·Ààßª√–‡∑»‰∑¬) 1,813.96 59.55 1,796.04 58.73 1,646.50 58.54

- ‰øøÑ“ ( «πÕÿμ “À°√√¡) 957.00 31.41 921.20 30.12 902.18 32.07

- ‰ÕπÈ”( «πÕÿμ “À°√√¡) 270.90 8.89 331.50 10.84 257.56 9.16

√«¡√“¬‰¥â®“°°“√¥”‡π‘πß“π 3,041.86 99.85 3,048.74 99.69 2,806.24 99.77

√“¬‰¥âÕ◊Ëπ 4.46 0.15 9.46 0.31 6.50 0.23

√“¬‰¥â√«¡ 3,046.32 100 3,058.20 100 2,812.74 100.00

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∫√‘…—∑¡’π‚¬∫“¬®à“¬‡ß‘πªíπº≈„πÕ—μ√“‰¡àμË”°«à“√âÕ¬≈– 80 ¢Õß°”‰√ ÿ∑∏‘μ“¡ß∫°“√‡ß‘π‡©æ“–°‘®°“√ „π·μà≈–√Õ∫∫—≠™’

∑—Èßπ’È§≥–°√√¡°“√∫√‘…—∑¡’Õ”π“®„π°“√æ‘®“√≥“¬°‡«âπ‰¡à¥”‡π‘π°“√μ“¡π‚¬∫“¬¥—ß°≈à“« À√◊Õ‡ª≈’Ë¬π·ª≈ßπ‚¬∫“¬¥—ß°≈à“«‰¥â

‡ªìπ§√—Èß§√“« ‚¥¬Õ¬Ÿà¿“¬„μâ‡ß◊ËÕπ‰¢∑’Ë°“√¥”‡π‘π°“√¥—ß°≈à“«®–μâÕß°àÕ„Àâ‡°‘¥ª√–‚¬™πå Ÿß ÿ¥μàÕºŸâ∂◊ÕÀÿâπ ‡™àπ „™â‡ªìπ∑ÿπ ”√Õß ”À√—∫

°“√™”√–§◊π‡ß‘π°Ÿâ „™â‡ªìπ‡ß‘π≈ß∑ÿπ‡æ◊ËÕ¢¬“¬∏ÿ√°‘®¢Õß∫√‘…—∑ À√◊Õ°√≥’¡’°“√‡ª≈’Ë¬π·ª≈ß ¿“«–¢Õßμ≈“¥ ´÷ËßÕ“®¡’º≈°√–∑∫μàÕ

°√–· ‡ß‘π ¥¢Õß∫√‘…—∑„πÕπ“§μ ‚¥¬°“√®à“¬‡ß‘πªíπº≈®–‡ªìπ‰ªμ“¡¢âÕ∫—ß§—∫¢Õß∫√‘…—∑¢âÕ 36 ‚¥¬¡’ “√– ”§—≠§◊Õ Àâ“¡®à“¬

‡ß‘πªíπº≈®“°‡ß‘πª√–‡¿∑Õ◊ËππÕ°‡Àπ◊Õ®“°°”‰√ „π°√≥’∑’Ë∫√‘…—∑¬—ß¡’¬Õ¥¢“¥∑ÿπ – ¡Õ¬Ÿà Àâ“¡¡‘„Àâ®à“¬‡ß‘πªíπº≈ ‡¡◊ËÕ§≥–°√√¡°“√

∫√‘…—∑¡’¡μ‘‡ÀÁπ™Õ∫„Àâ®à“¬‡ß‘πªíπº≈ª√–®”ªï·≈â« ®–μâÕßπ”‡ πÕ¢ÕÕπÿ¡—μ‘μàÕ∑’Ëª√–™ÿ¡ºŸâ∂◊ÕÀÿâπ ‡«âπ·μà‡ªìπ°“√®à“¬‡ß‘πªíπº≈

√–À«à“ß°“≈ „Àâ§≥–°√√¡°“√∫√‘…—∑¡’Õ”π“®Õπÿ¡—μ‘„Àâ®à“¬‡ß‘πªíπº≈‰¥â ·≈â«„Àâ√“¬ß“π„Àâ∑’Ëª√–™ÿ¡ºŸâ∂◊ÕÀÿâπ∑√“∫„π°“√ª√–™ÿ¡

§√“«μàÕ‰ª ·≈–∫√‘…—∑®–¥”‡π‘π°“√®à“¬‡ß‘πªíπº≈„Àâ°—∫ºŸâ∂◊ÕÀÿâπ¿“¬„πÀπ÷Ëß (1) ‡¥◊Õππ—∫·μà«—π∑’Ë∑’Ëª√–™ÿ¡ºŸâ∂◊ÕÀÿâπÀ√◊Õ§≥–°√√¡°“√

≈ß¡μ‘·≈â« (∫√‘…—∑‰¥â‡ªî¥‡º¬√“¬≈–‡Õ’¬¥°“√®à“¬‡ß‘πªíπº≈√“¬ªï„π·∫∫ 56-1 À—«¢âÕ 8.3 ‡√◊ËÕßπ‚¬∫“¬°“√®à“¬‡ß‘πªíπº≈)

ë ∫√‘…—∑¬àÕ¬ ”À√—∫π‚¬∫“¬°“√®à“¬‡ß‘πªíπº≈¢Õß∫√‘…—∑¬àÕ¬π—Èπ ®–æ‘®“√≥“®“°º≈°“√¥”‡π‘πß“π¢Õß∫√‘…—∑¬àÕ¬‡ªìπÀ≈—°


11


The company has the key earnings from electricity sale to EGAT, electricity and steam sale to industrial users in

Sriracha Saha Group Industrial Park. In 2009, the total operation income decreased to Baht 6.88 million due to decrease of

the revenues from selling steam to the industrial park.

(Unit: Million Baht)

Product 2009 2008 2007

Revenue % Revenue % Revenue %

Operating Income

- Electricity (EGAT) 1,813.96 59.55 1,796.04 58.73 1,646.50 58.54

- Electricity (Industrial Park) 957.00 31.41 921.20 30.12 902.18 32.07

- Steam (Industrial Park) 270.90 8.89 331.50 10.84 257.56 9.16

Total Operating Income 3,041.86 99.85 3,048.74 99.69 2,806.24 99.77

Other Income 4.46 0.15 9.46 0.31 6.50 0.23

Total Revenue 3,046.32 100 3,058.20 100 2,812.74 100.00

Summary of Business Development in 2009ë Kabinburi Biomass to Energy Project

The company purchases agricultural residues from local communities for biomass energy source. This helps thecompany build a good relationship with the communities and improve peopleûs attitude and understanding towardbiomass power generation that will be beneficial for getting the local approval in the 3rd quarter of 2010.

ë Lamphun Biomass to Energy ProjectThe Project has been on construction since July 2009 and shall commercially operate in March 2011 as scheduled.

ë Joint DevelopmentThe company formed a joint-venture with Siam Forestry Co. Ltd., a paper business subsidiary of the Siam CementGroup to establish Sahagreen Forest Co. Ltd. A feasibility study on power generation from eucalyptus residues frompulp factory was conducted in Amphor Prankratai, Kampanphet. The project was approved by the local communities.The joint-venture will be finalized and the application for Energy Industry Operation License will be submitted forapproval in the 2nd quarter of 2010.

Dividend Policyë Sahacogen (Chonburi) PCL

The company has a dividend policy to pay out at least 80% of only its net profits in each accounting period.It might occasionally be waived or adjusted if the Board of Directors considers that there are conditions creatingthe maximum benefit to the shareholders, such as reserves for debt services or for serving any needs during themarket changes causing adverse impact to the company cash flow in the future and/or for expanding the business.Upon approval by the Board of Directors, the annual dividend payout is to be presented to the shareholdersû meetingfor approval. Reference to the Articles of Association No. 36, each payout of the dividend is subject to the netprofit of the company only. If the company retains loss, the dividend payment is prohibited. The Board of Directorsis authorized to pay an interim dividend and report such payout at the next shareholdersû meeting, however,the annual dividend payment shall be proposed to the shareholdersû meeting for approval. As a rule, the companyshall pay the dividend within one (1) month after the date of shareholdersû approval on the shareholdersû meetingor the Board of Directorsû meeting. (Details of dividend payment was disclosed on the annual statement (Form 56-1)on the section 8.3 the dividend payment policy)

ë Subsidiary CompanyA subsidiary company is entitled to make the dividend payment subject to its operation performance.

12

‚§√ß √â“ß°“√∂◊ÕÀÿâπ·≈–°“√®—¥°“√‚§√ß √â“ßºŸâ∂◊ÕÀÿâπ¢Õß∫√‘…—∑

√“¬°“√ Àÿâπ (≈â“π) ∫“∑ (≈â“π)

∑ÿπ®¥∑–‡∫’¬π 955 955

∑ÿπ™”√–·≈â« 955 955

√“¬™◊ËÕºŸâ∂◊ÕÀÿâπ√“¬„À≠à 10 Õ—π¥—∫·√° ≥ «—πªî¥ ¡ÿ¥∑–‡∫’¬πæ—°°“√‚ÕπÀÿâπ‡¡◊ËÕ«—π∑’Ë 12 æƒ…¿“§¡ 2552

ºŸâ∂◊ÕÀÿâπ ®”π«πÀÿâπ % ∑’Ë∂◊ÕÀÿâπ

1. ∫¡®. Àæ—≤π“ Õ‘π‡μÕ√å‚Œ≈¥‘Èß 147,697,030 15.47%

2. ∫¡®. ‡Õ ·Õπ¥å‡® Õ‘π‡μÕ√å‡π™—Ëπ·π≈ ‡Õπ‡μÕ√å‰æ√ å 133,306,260 13.96%

3. ∫¡®. ‰Õ.´’.´’. Õ‘π‡μÕ√å‡π™—Ëπ·π≈ 99,432,960 10.41%

4. π“¬«’√æ—≤πå æŸπ»—°¥‘ÏÕÿ¥¡ ‘π 81,599,500 8.54%

5. ∫¡®. Àæ—≤πæ‘∫Ÿ≈ 69,624,730 7.29%

6. π“¬ ”‡√‘ß ¡πŸ≠º≈ 39,896,600 4.18%

7. ∫¡®. ‰∑¬«“‚°â 32,800,000 3.44%

8. π“ß “«¿“«‘≥’ æŸπ»—°¥‘ÏÕÿ¥¡ ‘π 24,600,000 2.58%

9. ∫®. Õ‘π‡μÕ√å‡π™—Ëπ·π≈ ·≈∫∫Õ√“∑Õ√’ å 21,400,000 2.24%

10. ∫®. ·™¡ªá‡Õ™ 20,500,000 2.15%

°“√°√–®“¬°“√∂◊ÕÀÿâπμ“¡ª√–‡¿∑¢Õß∫ÿ§§≈∑’Ë∂◊Õ ≥ «—πªî¥ ¡ÿ¥∑–‡∫’¬πæ—°°“√‚ÕπÀÿâπ‡¡◊ËÕ«—π∑’Ë 12 æƒ…¿“§¡ 2552

®”π«πºŸâ∂◊ÕÀÿâπ ®”π«πÀÿâπ √âÕ¬≈–

π‘μ‘∫ÿ§§≈ —≠™“μ‘‰∑¬ 38 645,734,980 67.62

—≠™“μ‘μà“ß¥â“« 2 9,550,000 1.00

√«¡ 40 655,284,980 68.62

∫ÿ§§≈∏√√¡¥“ —≠™“μ‘‰∑¬ 1,129 299,602,020 31.37

—≠™“μ‘μà“ß¥â“« 3 113,000 0.01

√«¡ 1,132 299,715,020 31.38

√«¡∑—Èß ‘Èπ 1,172 955,000,000 100


13


Shareholders and Management StructureEquity Structure

Item Share ( in millions) Value (million Baht)

Registered Capital 955 955

Paid-up Capital 955 955

Top Ten of Shareholders as the close of share register on May 12, 2009.

Shareholders No. of Shares % Holder

1. Saha Pattana Inter-Holding PCL 147,697,030 15.47

2. S&J International Enterprises PCL 133,306,260 13.96

3. I.C.C. International PCL 99,432,960 10.41

4. Mr. Veerapat Punsak-Udomsin 81,599,500 8.54

5. Saha Pathanapibul PCL 69,624,730 7.29

6. Mr. Samreng Manupol 39,896,600 4.18

7. Thai Wacoal PCL 32,800,000 3.44

8. Ms. Pavinee Punsak-Udomsin 24,600,000 2.58

9. International Laboratories Co., Ltd. 21,400,000 2.24

10. Champ Ace Co., Ltd. 20,500,000 2.15

Types of Shareholders as the close of share register on May 12, 2009.

No. of Shareholders No. of Shares %

Juristic person Thai 38 645,734,980 67.62

Foreigner 2 9,550,000 1.00

Total 40 655,284,980 68.62

General public Thai 1,129 299,602,020 31.37

Foreigner 3 113,000 0.01

Total 1,132 307,973,220 32.25

Grand Total 1,172 955,000,000 100

14

°“√∂◊ÕÀÿâπ‰¢«â√–À«à“ß°—π∫√‘…—∑œ ¡’‚§√ß √â“ß°“√∂◊ÕÀÿâπ‰¢«â√–À«à“ß°—π ·μà°“√∂◊ÕÀÿâπ‰¢«â¥—ß°≈à“«‰¡à¡’≈—°…≥–‡ªìπ°“√∂◊ÕÀÿâπ‰¢«â√–À«à“ß°—π∑’Ë¢—¥À√◊Õ

·¬âß°—∫À≈—°‡°≥±å μ“¡ª√–°“»§≥–°√√¡°“√°”°—∫μ≈“¥∑ÿπ ∑’Ë ∑®.28/2551 ‡√◊ËÕß °“√¢ÕÕπÿ≠“μ·≈–°“√Õπÿ≠“μ„Àâ‡ πÕ¢“¬Àÿâπ∑’ËÕÕ°„À¡à ¢âÕ 14

°“√∂◊ÕÀÿâπ‰¢«â√–À«à“ß°—π ≥ «—π∑’Ë 31 ∏—π«“§¡ 2552 —¥ à«π°“√∂◊ÕÀÿâπ (%)

™◊ËÕ∫√‘…—∑ ∫√‘…—∑œ ∫√‘…—∑Õ◊Ëπ∂◊ÕÀÿâπ∫√‘…—∑Õ◊Ëπ ∂◊ÕÀÿâπ∫√‘…—∑œ

1. °√≥’°“√∂◊ÕÀÿâπ‡°‘π°«à“ 50%(°) ∫√‘…—∑Õ◊Ëπ‡ªìπºŸâ∂◊ÕÀÿâπ„π∫√‘…—∑œ ‡°‘π°«à“ 50% ∫√‘…—∑œ μâÕß‰¡à∂◊ÕÀÿâπ‰¢«â„π∫√‘…—∑Õ◊Ëπ - -

(¢) ∫√‘…—∑œ ‡ªìπºŸâ∂◊ÕÀÿâπ„π∫√‘…—∑Õ◊Ëπ ‡°‘π°«à“ 50% ∫√‘…—∑Õ◊ËπμâÕß‰¡à∂◊ÕÀÿâπ‰¢«â„π∫√‘…—∑œ1. ∫√‘…—∑ À‚§‡®π °√’π ®”°—¥ 99.99 -2. ∫√‘…—∑ À°√’π øÕ‡√ ∑å ®”°—¥ 75.00 -

(§) ∫√‘…—∑œ ‡ªìπºŸâ∂◊ÕÀÿâπ‡°‘π°«à“ 50% „π∫√‘…—∑Õ◊Ëπ μ—Èß·μà 2 ∫√‘…—∑¢÷Èπ‰ª∫√‘…—∑Õ◊Ëπ‡À≈à“π—Èπ - -μâÕß‰¡à∂◊ÕÀÿâπ‰¢«â√–À«à“ß°—π

2. °√≥’°“√∂◊ÕÀÿâπ‡°‘π°«à“ 25% ·μà‰¡à‡°‘π°«à“ 50 %(°) ∫√‘…—∑Õ◊Ëπ‡ªìπºŸâ∂◊ÕÀÿâπ„π∫√‘…—∑œ ‡°‘π°«à“ 25% ·μà‰¡à‡°‘π°«à“ 50% ∫√‘…—∑œ μâÕß‰¡à

∂◊ÕÀÿâπ‰¢«â„π∫√‘…—∑Õ◊Ëπ‡°‘π°«à“ 10%

(¢) ∫√‘…—∑œ ‡ªìπºŸâ∂◊ÕÀÿâπ„π∫√‘…—∑Õ◊Ëπ‡°‘π°«à“ 25% ·μà‰¡à‡°‘π°«à“ 50% ∫√‘…—∑Õ◊ËπμâÕß‰¡à - -∂◊ÕÀÿâπ‰¢«â„π∫√‘…—∑œ ‡°‘π°«à“ 10%

3. °√≥’°“√∂◊ÕÀÿâπ‰¡à‡°‘π°«à“ 25%*(°) ∫√‘…—∑Õ◊Ëπ‡ªìπºŸâ∂◊ÕÀÿâπ„π∫√‘…—∑œ ‰¡à‡°‘π°«à“ 25% ∫√‘…—∑œ μâÕß‰¡à∂◊ÕÀÿâπ‰¢«â

„π∫√‘…—∑Õ◊Ëπ‡°‘π°«à“ 25%

(¢) ∫√‘…—∑œ ‡ªìπºŸâ∂◊ÕÀÿâπ„π∫√‘…—∑Õ◊Ëπ‰¡à‡°‘π°«à“ 25% ∫√‘…—∑Õ’ËπμâÕß‰¡à∂◊ÕÀÿâπ‰¢«â„π∫√‘…—∑œ ‡°‘π°«à“ 25%

À¡“¬‡Àμÿ : * · ¥ß√“¬°“√‡©æ“–∫√‘…—∑∑’Ë¡’°“√∂◊ÕÀÿâπ‰¢«â√–À«à“ß°—π

‚§√ß √â“ß°“√®—¥°“√Õß§å°√‚§√ß √â“ß°“√®—¥°“√Õß§å°√¢Õß∫√‘…—∑ ≥ 31 ∏—π«“§¡ 2552 √ÿª‰¥â¥—ßπ’È


15


Cross-shareholdingWhile the company allows the structure for cross-shareholding, nevertheless, such cross-shareholding is not of

the nature conflicting with nor contradicting to the announcement by The Capital Market Supervisory Board no. Thor Chor28/2008 regarding çthe permission request and the permission to offer newly-issued sharesé no. 14

Cross-shareholding details as of December 31, 2009Shareholding Percentage

Company name Shareholding Shareholdingby the company in the company

1. In the case of over 50% shareholding(A) Other companies holding over 50% shares in the company Cross-shareholding by the

company in other companies is not allowed. - -(B) The company holding over 50% shares in other companies Cross-shareholding by

other companies in the company is not allowed.1. Sahacogen Green Co., Ltd. 99.99 -2. Sahagreen Forest Co., Ltd. 75.00 -

(C) The company holding over 50% shares in 2 other companies and overCross- shareholding between other such companies is not allowed. - -

2. In the case of over 25% shareholding, but not exceeding 50% shareholding(A) Other companies holding over 25% but not exceeding 50% shares in the company

Over 10% cross-shareholding by the company in other companies is not allowed.(B) The company holding over 25% but not exceeding 50% shares in other companies

Over 10% cross-shareholding by other companies in the company is not allowed. - -3. In the case of not exceeding 25% shareholding*(A) Other companies holding not exceeding 25% shares in the company Over 25%

shareholding by the company in other companies is not allowed.(B) The company holding not exceeding 25% shares in other companies Over 25%

shareholding by other companies in the company is not allowed.

Remark : * Only items showing cross-shareholding by the companies are displayed.

The company StructureThe companyûs structure as of December 31, 2009 is as follow:

16

§≥–°√√¡°“√‚§√ß √â“ß°√√¡°“√∫√‘…—∑ ≥ «—π∑’Ë 31 ∏—π«“§¡ 2552 ª√–°Õ∫¥â«¬§≥–°√√¡°“√∫√‘…—∑ §≥–°√√¡°“√μ√«® Õ∫ §≥–°√√¡°“√

√√À“·≈–°”Àπ¥§à“μÕ∫·∑π ·≈–§≥–°√√¡°“√∫√‘À“√ ‚¥¬§≥–°√√¡°“√∫√‘…—∑ μ“¡∑’Ëª√“°Ø™◊ËÕ„πÀπ—ß ◊Õ√—∫√Õß¢Õß°√–∑√«ßæ“≥‘™¬å

¡’°√√¡°“√√«¡∑—Èß ‘Èπ®”π«π 14 ∑à“π ª√–°Õ∫¥â«¬ °√√¡°“√∑’Ë‰¡à‡ªìπºŸâ∫√‘À“√ 9 ∑à“π (‡ªìπ°√√¡°“√∑’Ë‡ªìπÕ‘ √– 5∑à“π) ´÷Ëß‡°‘π°«à“

°÷ËßÀπ÷Ëß¢Õß°√√¡°“√∑—Èß§≥– °√√¡°“√∑’Ë‡ªìπºŸâ∫√‘À“√ 5 ∑à“π ‚¥¬¡’√“¬π“¡·≈–√“¬ß“π°“√∂◊ÕÀÿâπ∫√‘…—∑¢Õß°√√¡°“√ „πªï 2551 ·≈–

ªï 2552 ≥ «—π∑’Ë 31 ∏—π«“§¡ 2552 ¥—ßπ’È

§≥–°√√¡°“√§≥– §≥– §≥– √√À“·≈– ®”π«πÀÿâπ ®”π«πÀÿâπ

≈”¥—∫ √“¬™◊ËÕ μ”·Àπàß °√√¡°“√ °√√¡°“√ °√√¡°“√ °”Àπ¥§à“ ªï ªï (‡æ‘Ë¡/≈¥) À¡“¬‡Àμÿ∫√‘…—∑ ∫√‘À“√ μ√«® Õ∫ μÕ∫·∑π 2551 2552 √–À«à“ßªï

1 π“¬∫ÿ≠‡°’¬√μ‘ ª√–∏“π°√√¡°“√, / / 11,313,410 11,353,410 10,000 §√∫«“√–‡¡◊ËÕ‡¥◊Õπ¡’π“§¡ 49‚™§«—≤π“ ª√–∏“π°√√¡°“√ √√À“ ·μàßμ—Èß„À¡à‡¡◊ËÕ«—π∑’Ë 29 ¡’.§. 49

·≈–°”Àπ¥§à“μÕ∫·∑π

2 π“¬∫ÿ≥¬ ‘∑∏‘Ï °√√¡°“√ / 16,500,000 16,500,000 - §√∫«“√–‡¡◊ËÕ‡¥◊Õπ‡¡…“¬π 52‚™§«—≤π“ ·μàßμ—Èß„À¡à‡¡◊ËÕ«—π∑’Ë 28 ‡¡.¬. 52

3 π“¬ —πμ‘ °√√¡°“√ / 310,000 310,000 - §√∫«“√–‡¡◊ËÕ‡¥◊Õπ¡’π“§¡ 50«‘≈“ »—°¥“ππ∑å ·μàßμ—Èß„À¡à‡¡◊ËÕ«—π∑’Ë 6 ¡’.§. 50

4 π“¬∫ÿ≠ƒ∑∏‘Ï °√√¡°“√ / 50,000 50,000 - §√∫«“√–‡¡◊ËÕ‡¥◊Õπ‡¡…“¬π 52¡À“¡πμ√’ ·μàßμ—Èß„À¡à‡¡◊ËÕ«—π∑’Ë 28 ‡¡.¬. 52

5 π“¬∏’√–»—°¥‘Ï °√√¡°“√, ª√–∏“π°√√¡°“√ / / / 2,040,000 2,040,000 - §√∫«“√–‡¡◊ËÕ‡¥◊Õπ‡¡…“¬π 52«‘°‘μ‡»√…∞å ∫√‘À“√·≈–°√√¡°“√ √√À“ ·μàßμ—Èß„À¡à‡¡◊ËÕ«—π∑’Ë 28 ‡¡.¬. 52

·≈–°”Àπ¥§à“μÕ∫·∑π

6 π“¬∑πß °√√¡°“√·≈– / / - - - §√∫«“√–‡¡◊ËÕ‡¥◊Õπ‡¡…“¬π 52»√’®‘μ√å °√√¡°“√∫√‘À“√ ·μàßμ—Èß„À¡à‡¡◊ËÕ«—π∑’Ë 28 ‡¡.¬. 52

7 π“¬Õ—μ∂°√ °√√¡°“√·≈– / / 200,000 200,000 - §√∫«“√–‡¡◊ËÕ‡¥◊Õπ¡’π“§¡ 50°≈—Ëπ§«“¡¥’ °√√¡°“√∫√‘À“√ ·μàßμ—Èß„À¡à‡¡◊ËÕ«—π∑’Ë 6 ¡’.§. 50

8 π“¬«‘‚√®πå °√√¡°“√ºŸâ®—¥°“√·≈– / / - - - §√∫«“√–‡¡◊ËÕ‡¥◊Õπ¡’π“§¡ 50∏’√«—≤πå«“∑’ °√√¡°“√∫√‘À“√ ·μàßμ—Èß„À¡à‡¡◊ËÕ«—π∑’Ë 6 ¡’.§. 50

9 π“¬ ÿ®√‘μ °√√¡°“√·≈– / / - - - √—∫μ”·Àπàß‡¡◊ËÕ«—π∑’Ë 28 ¡’π“§¡ 51ªí®©‘¡π—π∑å °√√¡°“√∫√‘À“√

10 π“¬πææ√ °√√¡°“√Õ‘ √–·≈– / / / - - - §√∫«“√–‡¡◊ËÕ‡¥◊Õπ¡’π“§¡ 51æß…å‡«™ ª√–∏“π°√√¡°“√μ√«® Õ∫ ·μàßμ—Èß„À¡à‡¡◊ËÕ«—π∑’Ë 28 ¡’.§. 51

·≈–°√√¡°“√ √√À“·≈–°”Àπ¥§à“μÕ∫·∑π

11 æ≈μ”√«®‡Õ° °√√¡°“√Õ‘ √–·≈– / / - - - §√∫«“√–‡¡◊ËÕ‡¥◊Õπ¡’π“§¡ 51 ¡™“¬ °√√¡°“√μ√«® Õ∫ ·μàßμ—Èß„À¡à‡¡◊ËÕ«—π∑’Ë 28 ¡’.§. 51ª√–¿— ¿—°¥’

12 π“¬Õ¡√ °√√¡°“√Õ‘ √–·≈– / / 1,000,000 1,000,000 - §√∫«“√–‡¡◊ËÕ‡¥◊Õπ¡’π“§¡ 51Õ—»«“π—π∑å °√√¡°“√μ√«® Õ∫ ·μàßμ—Èß„À¡à‡¡◊ËÕ«—π∑’Ë 28 ¡’.§. 51

13 π“¬ ÿ√ß§å °√√¡°“√Õ‘ √–·≈– / / - - - §√∫«“√–‡¡◊ËÕ‡¥◊Õπ¡’π“§¡ 51Õß§å‚¶…‘μ °√√¡°“√μ√«® Õ∫ ·μàßμ—Èß„À¡à‡¡◊ËÕ«—π∑’Ë 28 ¡’.§. 51

14 π“¬π‘«—μ√ °√√¡°“√Õ‘ √–·≈– / / 1,700,000 - √—∫μ”·Àπàß‡¡◊ËÕ«—π∑’Ë 28 ‡¡…“¬π 52æ—≤π‡ ¡“°ÿ≈ °√√¡°“√μ√«® Õ∫

‡≈¢“πÿ°“√∫√‘…—∑ : π“ßæ√√≥’ ©—π∑«√≈—°…≥å


17


Board of DirectorsThe company structure of the Board of Directors as of December 31, 2009 consisted of Board of Directors, Executive

Committee, and Audit Committee, totally 14 directors as reported in the Ministry of Commerceûs certification, whichappointed by the shareholders, which are composed of 9 non-management directors (5 of whom were independent, whichexceeded half of the entire Board), and 5 management directors as listed following, including the details of each directorsûshare holding in 2008 and 2009 as of December 31, 2009:

Board Executive Audit Nomination (No. of Shares) ShareNo. Name Position of Committee Committee and Year Year Increment Note

Directors 2008 2009

1 Mr. Boonkiet Chairman & Chairman of / 11,363,410 11,353,410 10,000 Reappointed to anotherChokwatana the Nomination and term on April 28, 2009

Remuneration Committee

2 Mr. Boonsithi Director / 16,500,000 16,500,000 - Reappointed to anotherChokwatana term on April 28, 2009

3 Mr. Santi Director / 310,000 310,000 - Reappointed to anotherVilassakdanont term on March 6, 2007

4 Mr. Boonyarith Director / 50,000 50,000 - Reappointed to anotherMahamontri term on April 28, 2009

5 Mr. Thirasak Director & Chairman / / / 2,040,000 2,040,000 - Reappointed to anotherVikitset of Executive Committees term on April 28, 2009

& Nomination andRemuneration Director

6 Mr. Tanong Director & Executive / / - - - Reappointed to anotherSrichit Committee term on April 28, 2009

7 Mr. Atthakorn Director & Executive / / 200,000 200,000 - Reappointed to anotherGlankwamdee Committee term on March 6, 2007

8 Mr. Viroj Managing Director & / / - - - Reappointed to anotherTheeravatvatee Executive Committee term on March 6, 2007

9 Mr. Sujarit Director & Executive / / - - - Appointed on March 28, 2008Patchimnun Committee

10 Mr. Nophorn Independent Director / / / - - - Reappointed to anotherBhongsvej & Chairman of the term on March 28, 2008

Audit Committee &Nomination andRemuneration Director

11 Pol. Gen. Independent Director / / - - - Reappointed to anotherSomchai & Audit Committee term on March 28, 2008Prabhasabhakdi

12 Mr. Amorn Independent Director / / 1,000,000 1,000,000 - Reappointed to anotherAsvanunt & Audit Committee term on March 28, 2008

13 Mr. Surong Independent Director / / - - - Reappointed to anotherOngkosit & Audit Committee term on March 28, 2008

14 Mr. Niwat Independent Director / / 1,700,000 1,700,000 - Reappointed to anotherPatanasemakul & Audit Committee term on March 28, 2008

Company Secretary : Mrs. Pannee Chantavaraluk

18

¢Õ∫‡¢μÕ”π“®Àπâ“∑’Ë¢Õß§≥–°√√¡°“√Õ”π“®¢Õß§≥–°√√¡°“√∫√‘…—∑1. ·μàßμ—Èß ∂Õ¥∂Õπ ¡Õ∫Õ”π“®Àπâ“∑’Ë„Àâ·°à∑’Ëª√÷°…“§≥–°√√¡°“√∫√‘…—∑ ·≈–/À√◊Õ§≥–°√√¡°“√Õ◊Ëπ„¥‰ªªØ‘∫—μ‘

2. Õπÿ¡—μ‘°“√„Àâ°Ÿâ¬◊¡‡ß‘π·°à∫√‘…—∑∑’Ë¡’§«“¡ —¡æ—π∏å∑“ß∏ÿ√°‘®°—∫∫√‘…—∑„π∞“π–ºŸâ∂◊ÕÀÿâπ À√◊Õ∫√‘…—∑∑’Ë¡’°“√ª√–°Õ∫∏ÿ√°‘®∑“ß°“√§â“μàÕ°—π

À√◊Õ∫√‘…—∑Õ◊Ëπ

3. Õπÿ¡—μ‘°“√‡¢â“§È”ª√–°—π«ß‡ß‘π ‘π‡™◊ËÕ·°à∫√‘…—∑∑’Ë¡’§«“¡ —¡æ—π∏å∑“ß∏ÿ√°‘®°—∫∫√‘…—∑„π∞“π–ºŸâ∂◊ÕÀÿâπ À√◊Õ∫√‘…—∑∑’Ë¡’°“√ª√–°Õ∫∏ÿ√°‘®

∑“ß°“√§â“μàÕ°—πÀ√◊Õ∫√‘…—∑Õ◊Ëπ

4. Õπÿ¡—μ‘°“√‡¢â“∑”π‘μ‘°√√¡∑’Ë¡‘„™à∏ÿ√°√√¡∑“ß°“√‡ß‘π„π«ß‡ß‘π à«π∑’Ë‡°‘πÕ”π“®§≥–°√√¡°“√∫√‘À“√

5. Õπÿ¡—μ‘°“√‰¥â√—∫À√◊Õ¬°‡≈‘°«ß‡ß‘π ‘π‡™◊ËÕ

6. Õπÿ¡—μ‘°“√≈ß∑ÿπ ¢“¬‡ß‘π≈ß∑ÿπ„πÀÿâπ “¡—≠·≈–/À√◊ÕÀ≈—°∑√—æ¬åÕ◊Ëπ„¥ „π«ß‡ß‘π à«π∑’Ë‡°‘πÕ”π“®§≥–°√√¡°“√∫√‘À“√

7. Õπÿ¡—μ‘°“√®—¥À“·≈–≈ß∑ÿπ„π ‘π∑√—æ¬å∂“«√„π«ß‡ß‘π à«π∑’Ë‡°‘πÕ”π“®§≥–°√√¡°“√∫√‘À“√

8. Õπÿ¡—μ‘°“√ª√—∫ ¿“æ ∑”≈“¬ μ—¥∫—≠™’ ÷Ëß ‘π∑√—æ¬å∂“«√·≈– ‘π∑√—æ¬å∑’Ë‰¡à¡’μ—«μπ∑’Ë‡≈‘°„™â ™”√ÿ¥ Ÿ≠À“¬ ∂Ÿ°∑”≈“¬ ‡ ◊ËÕ¡ ¿“æ

À√◊Õ≈â“ ¡—¬‰¡à “¡“√∂„™âß“π‰¥â ¡’¡Ÿ≈§à“∑“ß∫—≠™’√«¡„π«ß‡ß‘π à«π∑’Ë‡°‘πÕ”π“®§≥–°√√¡°“√∫√‘À“√

9. Õπÿ¡—μ‘°“√ª√—∫ ¿“æ√“§“ °“√∑”≈“¬ ´÷Ëß«— ¥ÿ Õ–‰À≈à Õÿª°√≥å ·≈–/À√◊Õ ‘π§â“§ß‡À≈◊Õ∑’Ë‡ ◊ËÕ¡ ¿“æ À√◊Õ≈â“ ¡—¬ ´÷Ëß®–∑”„Àâ¡’

¡Ÿ≈§à“∑“ß∫—≠™’≈¥≈ß‰¥âμ“¡¡Ÿ≈§à“∑’Ë‡°‘¥¢÷Èπ®√‘ß

10. ‡ πÕ°“√‡æ‘Ë¡∑ÿπ À√◊Õ≈¥∑ÿπ À√◊Õ°“√‡ª≈’Ë¬π·ª≈ß¡Ÿ≈§à“Àÿâπ °“√·°â ‰¢ ‡ª≈’Ë¬π·ª≈ßÀπ—ß ◊Õ∫√‘§≥Àå π∏‘ ¢âÕ∫—ß§—∫ ·≈–/À√◊Õ

«—μ∂ÿª√– ß§å¢Õß∫√‘…—∑μàÕºŸâ∂◊ÕÀÿâπ

11. Õπÿ¡—μ‘°“√°àÕμ—Èß §«∫√«¡ À√◊Õ‡≈‘°∫√‘…—∑¬àÕ¬

12. ¡Õ∫Õ”π“®„Àâ·°àΩÉ“¬®—¥°“√ æπ—°ß“π√–¥—∫∫√‘À“√¢Õß∫√‘…—∑ À√◊Õ∫ÿ§§≈Õ◊Ëπ„¥∑”°“√·∑π‰¥â ¿“¬„μâ√–‡∫’¬∫∑’Ë§≥–°√√¡°“√∫√‘…—∑

‰¥â°”Àπ¥‰«â

13. ¡’Õ”π“®‡™‘≠ΩÉ“¬®—¥°“√ ºŸâ∫√‘À“√ ·≈–æπ—°ß“π¢Õß∫√‘…—∑∑’Ë‡°’Ë¬«¢âÕß¡“™’È·®ß „Àâ§«“¡‡ÀÁπ√à«¡ª√–™ÿ¡ À√◊Õ àß‡Õ° “√μ“¡∑’Ë‡ÀÁπ

«à“‡°’Ë¬«¢âÕß®”‡ªìπ

14. ª√÷°…“ºŸâ‡™’Ë¬«™“≠ À√◊Õ ∑’Ëª√÷°…“¢Õß∫√‘…—∑ (∂â“¡’) À√◊Õ ®â“ß∑’Ëª√÷°…“ À√◊ÕºŸâ‡™’Ë¬«™“≠¿“¬πÕ° „π°√≥’®”‡ªìπ¥â«¬§à“„™â®à“¬¢Õß∫√‘…—∑

15. ·μàßμ—Èß·≈–∂Õ¥∂Õπ‡≈¢“πÿ°“√∫√‘…—∑

¢Õ∫‡¢μÕ”π“®Àπâ“∑’Ë¢Õß§≥–°√√¡°“√μ√«® Õ∫§≥–°√√¡°“√∫√‘…—∑ ‰¥âÕπÿ¡—μ‘®—¥μ—Èß§≥–°√√¡°“√μ√«® Õ∫ ‚¥¬‰¥â·μàßμ—Èß®“°°√√¡°“√∫√‘…—∑∑’Ë¡’§ÿ≥ ¡∫—μ‘μ“¡∑’Ë°ÆÀ¡“¬À≈—°∑√—æ¬å

·≈–μ≈“¥À≈—°∑√—æ¬å°”Àπ¥ ‚¥¬¡’®”π«πÕ¬à“ßπâÕ¬ 3 §π ·≈–μâÕß¡’§«“¡√Ÿâ¥â“π∫—≠™’·≈–°“√‡ß‘πÕ¬à“ßπâÕ¬ 1 §π ‚¥¬„Àâ¡’Õ”π“®

Àπâ“∑’Ë§«“¡√—∫º‘¥¢Õ∫ ¥—ßπ’È

1 Õ∫∑“π„Àâ∫√‘…—∑¡’√“¬ß“π∑“ß°“√‡ß‘πÕ¬à“ß∂Ÿ°μâÕß·≈–‡æ’¬ßæÕ

2 Õ∫∑“π„Àâ∫√‘…—∑¡’√–∫∫§«∫§ÿ¡¿“¬„π (internal control) ·≈–√–∫∫°“√μ√«® Õ∫¿“¬„π (internal audit) ∑’Ë‡À¡“– ¡·≈–¡’

ª√– ‘∑∏‘º≈ ·≈–æ‘®“√≥“§«“¡‡ªìπÕ‘ √–¢ÕßÀπà«¬ß“πμ√«® Õ∫¿“¬„π μ≈Õ¥®π„Àâ§«“¡‡ÀÁπ™Õ∫„π°“√æ‘®“√≥“ ·μàßμ—Èß ‚¬°¬â“¬

‡≈‘°®â“ßÀ—«Àπâ“μ√«® Õ∫¿“¬„π À√◊Õ Àπà«¬ß“πÕ◊Ëπ„¥∑’Ë√—∫º‘¥™Õ∫‡°’Ë¬«°—∫°“√μ√«® Õ∫¿“¬„π

3 Õ∫∑“π„Àâ∫√‘…—∑ªØ‘∫—μ‘μ“¡°ÆÀ¡“¬«à“¥â«¬À≈—°∑√—æ¬å·≈–μ≈“¥À≈—°∑√—æ¬å·Ààßª√–‡∑»‰∑¬ ¢âÕ°”Àπ¥¢Õß μ≈“¥À≈—°∑√—æ¬å

·Ààßª√–‡∑»‰∑¬ ·≈–°ÆÀ¡“¬∑’Ë‡°’Ë¬«¢âÕß°—∫∏ÿ√°‘®¢Õß∫√‘…—∑

4 æ‘®“√≥“ §—¥‡≈◊Õ° ‡ πÕ·μàßμ—Èß∫ÿ§§≈´÷Ëß¡’§«“¡‡ªìπÕ‘ √– ‡æ◊ËÕ∑”Àπâ“∑’Ë‡ªìπºŸâ Õ∫∫—≠™’¢Õß∫√‘…—∑ ·≈–‡ πÕ§à“μÕ∫·∑π¢Õß∫ÿ§§≈

¥—ß°≈à“« √«¡∑—Èß‡¢â“√à«¡ª√–™ÿ¡°—∫ºŸâ Õ∫∫—≠™’ ‚¥¬‰¡à¡’ΩÉ“¬®—¥°“√‡¢â“√à«¡ª√–™ÿ¡¥â«¬Õ¬à“ßπâÕ¬ªï≈– 1 §√—Èß

5 æ‘®“√≥“√“¬°“√∑’Ë‡°’Ë¬«‚¬ß À√◊Õ√“¬°“√∑’ËÕ“®¡’§«“¡¢—¥·¬âß∑“ßº≈ª√–‚¬™πå „Àâ‡ªìπ‰ªμ“¡°ÆÀ¡“¬ ·≈–¢âÕ°”Àπ¥¢Õßμ≈“¥

À≈—°∑√—æ¬å·Ààßª√–‡∑»‰∑¬∑—Èßπ’È‡æ◊ËÕ„Àâ¡—Ëπ„®«à“√“¬°“√¥—ß°≈à“« ¡‡Àμÿ ¡º≈·≈–‡ªìπª√–‚¬™πå Ÿß ÿ¥μàÕ∫√‘…—∑


19


The authority of the Board is defined as follows:Authorities and Responsibilities of the Board of Directors1. To appoint, remove and authorize consultants to the Board of Directors, to committees and/or to other committees;2. To approve loans to companies with abusiness relation to the company as shareholders, or to companies with a

trading relation or other companies;3. To approve guarantee of loans to companies with a bussiness relation with the company as shareholders or to

companies with a trading relation or other companies;4. To approve engagement in a legal act, which is not a financial transaction, of the amount greater than the authority

of the Executive Board;5. To approve acceptance or cancellation of loans;6. To approve investment, sale of investment capital in ordinary shares and/or any other securities of the amount greater

than the authority of the Executive Board;7. To approve sourcing and investment in fixed assets of the amount greater than the authority of the Executive Board;8. To approve modification, destruction and disposal of fixed assets and intangible assets which are no longer in use,

damaged, lost, destroyed, deteriorated and out of date, which are of the amount greater than the authority of theExecutive Board;

9. To approve modification, change of price and destruction of raw materials and/or remaining inventories which aredeteriorated or out of date;

10. To propose to shareholders an increase or a decrease of capital, a change of share value; modification of articlesof association, regulations and/or objectives of the company;

11. To approve incorporation, merger or dissolution of subsidiaries;12. To authorize the management, managerial employees of the company, or any other individual to act on their behalf

under the company regulations;13. To invite members of the management, executives, or relevant employees to provide explanations, opinions or

documents as necessary;14. To consult with specialists or company consultants (if any) or hire third-party consultants or specialists if necessary

at the expense of the company;15. To appoint and remove a company secretary;

Authorities and Responsibilities of Audit CommitteeThe Board of Directors has approved the appointment of the Audit Committee with the qualifications specified under

the conditions of the Securities and Exchange of Thailand. Such the committee must consist of at least three independentdirectors and at least one director must be qualified in accounting and finance. The scope of authorities and responsibilityof the Audit Committee are as follows:1. Review that the companyûs financial statements are correct and sufficient;2. Review that the companyûs internal control system and internal audit system are sufficient and effective, review the

sufficient independence of the Office of Internal Audit, and provide opinions for the appointment, transfer, andpromotion of heads of the Office of Internal Audit or other offices with responsibilities for internal audit activities;

3. Review that the companyûs operation conforms to laws on securities and exchange, requirements of the StockExchange of Thailand and any other laws relating to the companyûs business;

4. Review, select, nominate for approval for the persons with independence of performing the duties of external auditorsfor the company, propose the remuneration of such external auditors, and jointly attend the meeting with the externalauditors, at least once a year, without the presence of the companyûs management;

5. Review any connected transaction or transactions with potential conflict of interest to be in compliance with laws andrequirements of the Stock Exchange of Thailand in order to ensure that such transactions are reasonable and providethe best benefits for the company;

20

6 ®—¥∑”√“¬ß“π¢Õß§≥–°√√¡°“√μ√«® Õ∫ ‚¥¬‡ªî¥‡º¬‰«â„π√“¬ß“πª√–®”ªï¢Õß∫√‘…—∑ ´÷Ëß√“¬ß“π¥—ß°≈à“«μâÕß ≈ßπ“¡‚¥¬

ª√–∏“π§≥–°√√¡°“√μ√«® Õ∫ ·≈–μâÕßª√–°Õ∫¥â«¬¢âÕ¡Ÿ≈Õ¬à“ßπâÕ¬¥—ßμàÕ‰ªπ’È

(°) §«“¡‡ÀÁπ‡°’Ë¬«°—∫§«“¡∂Ÿ°μâÕß §√∫∂â«π ‡ªìπ∑’Ë‡™◊ËÕ∂◊Õ‰¥â¢Õß√“¬ß“π∑“ß°“√‡ß‘π¢Õß∫√‘…—∑

(¢) §«“¡‡ÀÁπ‡°’Ë¬«°—∫§«“¡‡æ’¬ßæÕ¢Õß√–∫∫§«∫§ÿ¡¿“¬„π¢Õß∫√‘…—∑

(§) §«“¡‡ÀÁπ‡°’Ë¬«°—∫°“√ªØ‘∫—μ‘μ“¡°ÆÀ¡“¬«à“¥â«¬À≈—°∑√—æ¬å·≈–μ≈“¥À≈—°∑√—æ¬å¢âÕ°”Àπ¥¢Õßμ≈“¥À≈—°∑√—æ¬å·Ààßª√–‡∑»‰∑¬

À√◊Õ°ÆÀ¡“¬∑’Ë‡°’Ë¬«¢âÕß°—∫∏ÿ√°‘®¢Õß∫√‘…—∑

(ß) §«“¡‡ÀÁπ‡°’Ë¬«°—∫§«“¡‡À¡“– ¡°—∫ºŸâ Õ∫∫—≠™’

(®) §«“¡‡ÀÁπ‡°’Ë¬«°—∫√“¬ß“π∑’ËÕ“®¡’§«“¡¢—¥·¬âß°—∫º≈ª√–‚¬™πå

(©) ®”π«π°“√ª√–™ÿ¡§≥–°√√¡°“√μ√«® Õ∫ ·≈–°“√‡¢â“√à«¡ª√–™ÿ¡¢Õß°√√¡°“√μ√«® Õ∫·μà≈–∑à“π

(™) §«“¡‡ÀÁπÀ√◊Õ¢âÕ —ß‡°μ‚¥¬√«¡∑’Ë§≥–°√√¡°“√μ√«® Õ∫‰¥â√—∫®“°°“√ªØ‘∫—μ‘Àπâ“∑’Ëμ“¡°Æ∫—μ√ (charter)

(´) √“¬°“√Õ◊Ëπ∑’Ë‡ÀÁπ«à“ºŸâ∂◊ÕÀÿâπ·≈–ºŸâ≈ß∑ÿπ∑—Ë«‰ª§«√∑√“∫ ¿“¬„μâ¢Õ∫‡¢μÀπâ“∑’Ë·≈–§«“¡√—∫º‘¥™Õ∫∑’Ë ‰¥â√—∫¡Õ∫À¡“¬®“°

§≥–°√√¡°“√∫√‘…—∑

7 „π°“√ªØ‘∫—μ‘Àπâ“∑’Ë¢Õß§≥–°√√¡°“√μ√«® Õ∫ À“°æ∫À√◊Õ¡’¢âÕ ß —¬«à“¡’√“¬°“√À√◊Õ°“√°√–∑”¥—ßμàÕ‰ªπ’È ÷ËßÕ“®¡’º≈°√–∑∫

Õ¬à“ß¡’π—¬ ”§—≠μàÕ∞“π–°“√‡ß‘π·≈–º≈°“√¥”‡π‘πß“π¢Õß∫√‘…—∑ „Àâ§≥–°√√¡°“√μ√«® Õ∫√“¬ß“πμàÕ§≥–°√√¡°“√∫√‘…—∑

‡æ◊ËÕ¥”‡π‘π°“√ª√—∫ª√ÿß·°â ‰¢¿“¬„π‡«≈“∑’Ë§≥–°√√¡°“√μ√«® Õ∫‡ÀÁπ ¡§«√

(°) √“¬°“√∑’Ë‡°‘¥§«“¡¢—¥·¬âß∑“ßº≈ª√–‚¬™πå

(¢) °“√∑ÿ®√‘μÀ√◊Õ ‘Ëßº‘¥ª°μ‘À√◊Õ¡’§«“¡∫°æ√àÕß∑’Ë ”§—≠„π√–∫∫§«∫§ÿ¡¿“¬„π

(§) °“√ΩÉ“Ωóπ°ÆÀ¡“¬«à“¥â«¬À≈—°∑√—æ¬å·≈–μ≈“¥À≈—°∑√—æ¬å ¢âÕ°”Àπ¥¢Õßμ≈“¥À≈—°∑√—æ¬å·Ààßª√–‡∑»‰∑¬À√◊Õ°ÆÀ¡“¬

∑’Ë‡°’Ë¬«¢âÕß°—∫∏ÿ√°‘®¢Õß∫√‘…—∑

À“°§≥–°√√¡°“√¢Õß∫√‘…—∑À√◊ÕºŸâ∫√‘À“√ ‰¡à¥”‡π‘π°“√„Àâ¡’°“√ª√—∫ª√ÿß·°â ‰¢¿“¬„π√–¬–‡«≈“∑’Ë‡À¡“– ¡ °√√¡°“√μ√«® Õ∫

√“¬„¥√“¬Àπ÷ËßÕ“®√“¬ß“π«à“¡’√“¬°“√À√◊Õ°“√°√–∑”¥—ß°≈à“«μàÕ ”π—°ß“π§≥–°√√¡°“√°”°—∫À≈—°∑√—æ¬å·≈–μ≈“¥À≈—°∑√—æ¬å

À√◊Õμ≈“¥À≈—°∑√—æ¬å·Ààßª√–‡∑»‰∑¬

8 π—∫ πÿπ·≈–μ‘¥μ“¡„Àâ∫√‘…—∑¡’√–∫∫°“√∫√‘À“√§«“¡‡ ’Ë¬ßÕ¬à“ß¡’ª√– ‘∑∏‘¿“æ

9 ª√—∫ª√ÿß·≈–·°â ‰¢°Æ∫—μ√§≥–°√√¡°“√μ√«® Õ∫ ·≈–π”‡ πÕμàÕ§≥–°√√¡°“√∫√‘…—∑‡æ◊ËÕæ‘®“√≥“Õπÿ¡—μ‘

10 ªØ‘∫—μ‘°“√Õ◊Ëπ„¥μ“¡∑’Ë§≥–°√√¡°“√¢Õß∫√‘…—∑¡Õ∫À¡“¬ ¥â«¬§«“¡‡ÀÁπ™Õ∫®“°§≥–°√√¡°“√μ√«® Õ∫‚¥¬Õ“»—¬Õ”π“®μ“¡

¢âÕ∫—ß§—∫¢Õß∫√‘…—∑ ·≈–°ÆÀ¡“¬

Õ”π“®Àπâ“∑’Ë§≥–°√√¡°“√∫√‘À“√1. ·μàßμ—Èß ∂Õ¥∂Õπ ‚¬°¬â“¬ æ‘®“√≥“§«“¡¥’§«“¡™Õ∫ μ≈Õ¥®π°”Àπ¥§à“μÕ∫·∑π·≈– «— ¥‘°“√ ·°àæπ—°ß“π√–¥—∫μà“ßÊ

2. ·μàßμ—Èß ∂Õ¥∂Õπ §≥–∑”ß“πÕ◊Ëπ„¥‡æ◊ËÕ¥”‡π‘π°‘®°“√μà“ßÊ „π°“√∫√‘À“√ß“π¢Õß∫√‘…—∑

3. ÕÕ°√–‡∫’¬∫ ª√–°“» «à“¥â«¬°“√ªØ‘∫—μ‘ß“π·≈– “¡“√∂¡Õ∫Õ”π“®„Àâ·°à°√√√¡°“√∫√‘À“√ ·≈–/À√◊Õ æπ—°ß“πºŸâ¥”√ßμ”·Àπàß

∑“ß°“√∫√‘À“√‡ªìπºŸâ≈ßπ“¡Õπÿ¡—μ‘‡∫‘°®à“¬ ‘π∑√—æ¬å¢Õß∫√‘…—∑‰¥â

4. Õπÿ¡—μ‘°“√‡¢â“∑”π‘μ‘°√√¡∑’Ë¡‘„™à∏ÿ√°√√¡∑“ß°“√‡ß‘π „π«ß‡ß‘π·μà≈–§√—Èß‰¡à‡°‘π®”π«π 30 ( “¡ ‘∫) ≈â“π∫“∑

5. Õπÿ¡—μ‘°“√≈ß∑ÿπ ¢“¬‡ß‘π≈ß∑ÿπ„πÀÿâπ “¡—≠·≈–/À√◊ÕÀ≈—°∑√—æ¬åÕ◊Ëπ„¥ „π«ß‡ß‘π·μà≈–§√—Èß‰¡à‡°‘π ®”π«π 30 ( “¡ ‘∫) ≈â“π∫“∑

6. Õπÿ¡—μ‘°“√®—¥À“·≈–≈ß∑ÿπ„π ‘π∑√—æ¬å∂“«√ „π«ß‡ß‘π·μà≈–§√—Èß‰¡à‡°‘π®”π«π 30 ( “¡ ‘∫) ≈â“π∫“∑

7. Õπÿ¡—μ‘°“√ª√—∫ ¿“æ ∑”≈“¬ μ—¥∫—≠™’ ÷Ëß ‘π∑√—æ¬å∂“«√·≈– ‘π∑√—æ¬å∑’Ë‰¡à¡’μ—«μπ∑’Ë‡≈‘°„™â ™”√ÿ¥ Ÿ≠À“¬ ∂Ÿ°∑”≈“¬ ‡ ◊ËÕ¡ ¿“æ

À√◊Õ≈â“ ¡—¬‰¡à “¡“√∂„™âß“π‰¥â ¡’¡Ÿ≈§à“∑“ß∫—≠™’√«¡‰¡à‡°‘π§√—Èß≈– 1 (Àπ÷Ëß) ≈â“π∫“∑

8. Õπÿ¡—μ‘°“√ª√—∫ ¿“æ√“§“ °“√∑”≈“¬ ´÷Ëß«—μ∂ÿ¥‘∫ ·≈–/À√◊Õ ‘π§â“§ß‡À≈◊Õ∑’Ë‡ ◊ËÕ¡ ¿“æÀ√◊Õ≈â“ ¡—¬ ´÷Ëß®–∑”„Àâ¡’¡Ÿ≈§à“∑“ß∫—≠™’

≈¥≈ß‰¥âμ“¡¡Ÿ≈§à“∑’Ë‡°‘¥¢÷Èπ®√‘ß ¡’¡Ÿ≈§à“∑“ß∫—≠™’√«¡‰¡à‡°‘π§√—Èß≈– 1 (Àπ÷Ëß) ≈â“π∫“∑


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6. Prepare the Audit Committee reports to be disclosed in the companyûs annual report; such reports must be signed bythe Chairman of the Audit Committee and it must contain, at least, some significant information as described below:(a) opinions about the accuracy, correctness and reliability of financial statements and financial reports of the

company;(b) opinions about the sufficiency of internal control system of the company;(c) opinions about the compliance with laws on securities and exchange, requirements of the Stock Exchange of

Thailand and any other laws relating to the companyûs business;(d) opinions about the appropriateness of external auditors;(e) opinions about transactions with potential conflict of interest;(f) number of meetings to be convened by the Audit Committee and meeting attendance of each Audit Committee

member;(g) opinions or general findings obtained by performing its duties in accordance with the Audit Committee Charter;(h) opinions about other matters that should be notified to general shareholders and investors under the scope of

duties and responsibilities assigned by the Board of Directors.7. In performing the duties as the Audit Committee, if discovering or suspecting of either of the following

transactions or acts, which may give significant effects to the financial status and operating results of the company,the Audit Committee must report it to the Board of Directors for improvements within the reasonable perioddetermined by the Audit Committee:(a) transaction with potential conflict of interest;(b) fraud or irregularity or significant defect in the internal control system;(c) violation of laws on securities and exchange, requirements of the Stock Exchange of Thailand and any other

laws relating to the companyûs business.If the Board or the management of the company fails to make remedies within the established period, one of the AuditCommittee members may report such transaction or act to the Office of the Securities and Exchange Commission orthe Stock Exchange of Thailand.

8. Support and monitor to ensure that the company acquires the efficient risk management system.9. Improve and amend the Audit Committee Charter, and propose such amended charter for the Board of Directorsû

approval;10. Perform other functions assigned by the Board of Directors under the approval of the Audit Committee by virtue of its

authority stated in the Articles of Incorporation of the company and other related laws.

Authorities and Responsibilities of Executive Committee1. To appoint, remove, transfer, evaluate and determine compensation and welfare of employees of different levels2. To appoint and remove any other working committee to carry out actions necessary for the management of the company3. To issue regulations and announcements on the companyûs operations, and to assign authority to members of the

Executive Board and / or the Management to execute authorization on company assets.4. To approve engagement in non-financial juristic actions, provided that the amount does not exceed Baht 30 million

(Thirty million Baht only) per case5. To approve investment, sale of investment capital in ordinary shares and/or any other securities, provided

that the amount does not exceed Baht 30 million (Thirty Million Baht only) per case6. To approve sourcing and investment in fixed assets, provided that the amount does not exceed Baht 30 million

(Thirty million Baht only) per case7. To approve modification, destruction and disposal of fixed assets and intangible assets which are no longer in use,

damaged, lost, destroyed, deteriorated and out of date, provided that the book value does not exceed Baht 1 million(One million Baht only) per case

8. To approve modification, change of price and destruction of raw materials and/or remaining inventory whichare deteriorated or out of date, provided that the book value does not exceed Baht 1 million (One million Baht only)per case

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9. ¡Õ∫Õ”π“®„Àâ·°àæπ—°ß“π√–¥—∫∫√‘À“√¢Õß∫√‘…—∑ À√◊Õ∫ÿ§§≈Õ◊Ëπ„¥∑”°“√·∑π‰¥â

10. ¡’Õ”π“®„Àâæπ—°ß“π¢Õß∫√‘…—∑∑’Ë‡°’Ë¬«¢âÕß¡“™’È·®ß „Àâ§«“¡‡ÀÁπ√à«¡ª√–™ÿ¡ À√◊Õ àß‡Õ° “√μ“¡∑’Ë‡ÀÁπ«à“‡°’Ë¬«¢âÕß®”‡ªìπ

11. ª√÷°…“ºŸâ‡™’Ë¬«™“≠ À√◊Õ ∑’Ëª√÷°…“¢Õß∫√‘…—∑ (∂â“¡’) À√◊Õ ®â“ß∑’Ëª√÷°…“ À√◊ÕºŸâ‡™’Ë¬«™“≠¿“¬πÕ° „π°√≥’®”‡ªìπ¥â«¬§à“„™â®à“¬¢Õß∫√‘…—∑

12. ÕÕ°√–‡∫’¬∫ªØ‘∫—μ‘ß“πÕ◊Ëπ„¥μ“¡∑’Ë‡ÀÁπ ¡§«√

¢Õ∫‡¢μÕ”π“® Àπâ“∑’Ë¢Õß§≥–°√√¡°“√ √√À“·≈–°”Àπ¥§à“μÕ∫·∑π‡√◊ËÕß°“√ √√À“1 æ‘®“√≥“ √√À“§—¥‡≈◊Õ°∫ÿ§§≈ºŸâ¡’§ÿ≥ ¡∫—μ‘‡À¡“– ¡∑’Ë®–‡¢â“¥”√ßμ”·Àπàß°√√¡°“√∫√‘…—∑

2 μ√«® Õ∫ª√–«—μ‘·≈–¢âÕ¡Ÿ≈μà“ßÊ ¢Õß∫ÿ§§≈∑’Ë‰¥â√—∫°“√§—¥‡≈◊Õ° ‚¥¬§”π÷ß∂÷ß§«“¡√Ÿâ§«“¡ “¡“√∂ª√– ∫°“√≥å §«“¡‡™’Ë¬«™“≠

®“°À≈“°À≈“¬«‘™“™’æ ¡’§ÿ≥ ¡∫—μ‘∑’Ë‡À¡“– ¡ ‚¥¬‡ªìπ‰ªμ“¡¢âÕ∫—ß§—∫¢Õß∫√‘…—∑·≈–°ÆÀ¡“¬∑’Ë‡°’Ë¬«¢âÕß

3 ®—¥∑”§«“¡‡ÀÁπÀ√◊Õ¢âÕ‡ πÕ·π–μà“ß Ê ‡æ◊ËÕ„™âª√–°Õ∫°“√æ‘®“√≥“

4 ‡ πÕ™◊ËÕ∫ÿ§§≈∑’Ë‰¥â√—∫°“√§—¥‡≈◊Õ°μàÕ§≥–°√√¡°“√∫√‘…—∑ ‡æ◊ËÕæ‘®“√≥“

5 ª√—∫ª√ÿß·≈–·°â ‰¢°Æ∫—μ√§≥–°√√¡°“√ √√À“·≈–°”Àπ¥§à“μÕ∫·∑π ·≈–π”‡ πÕμàÕ§≥–°√√¡°“√∫√‘…—∑‡æ◊ËÕæ‘®“√≥“Õπÿ¡—μ‘

6 ªØ‘∫—μ‘°“√Õ◊Ëπ„¥ μ“¡∑’Ë§≥–°√√¡°“√∫√‘…—∑¡Õ∫À¡“¬

°“√°”Àπ¥§à“μÕ∫·∑π1 ª√–‡¡‘πº≈°“√ªØ‘∫—μ‘ß“π¢Õß§≥–°√√¡°“√∫√‘…—∑„π·μà≈–ªï

2 æ‘®“√≥“°”Àπ¥«ß‡ß‘π§à“μÕ∫·∑π ”À√—∫°√√¡°“√∫√‘…—∑ ‚¥¬æ‘®“√≥“®“°º≈°“√ ¥”‡π‘πß“π¢Õß∫√‘…—∑ «ß‡ß‘π§à“μÕ∫·∑π∑’Ë

‰¥â√—∫Õπÿ¡—μ‘®“°∑’Ëª√–™ÿ¡ºŸâ∂◊ÕÀÿâπ ·≈–®”π«π‡ß‘π§à“μÕ∫·∑π∑’Ë®à“¬„πªï∑’Ëºà“π¡“ ‡æ◊ËÕπ”‡ πÕμàÕ§≥–°√√¡°“√∫√‘…—∑æ‘®“√≥“

·≈–π”‡ πÕμàÕ∑’Ëª√–™ÿ¡ºŸâ∂◊ÕÀÿâπ‡æ◊ËÕÕπÿ¡—μ‘

3 æ‘®“√≥“®—¥ √√§à“μÕ∫·∑π·°à°√√¡°“√∫√‘…—∑ ‚¥¬æ‘®“√≥“®“°º≈°“√ªØ‘∫—μ‘ß“π Õ”π“®Àπâ“∑’Ë·≈–ª√‘¡“≥§«“¡√—∫º‘¥™Õ∫

¿“¬„π«ß‡ß‘π∑’ËºŸâ∂◊ÕÀÿâπ‰¥âÕπÿ¡—μ‘·≈–π”‡ πÕμàÕ§≥–°√√¡°“√∫√‘…—∑‡æ◊ËÕÕπÿ¡—μ‘

4 æ‘®“√≥“®—¥ √√§à“μÕ∫·∑π·°à°√√¡°“√ √√À“·≈–°”Àπ¥§à“μÕ∫·∑π (∑’Ë¡‘‰¥â¥”√ßμ”·Àπàß°√√¡°“√∫√‘…—∑) ‚¥¬æ‘®“√≥“®“°

º≈°“√ªØ‘∫—μ‘ß“πÕ”π“®Àπâ“∑’Ë ·≈–ª√‘¡“≥§«“¡√—∫º‘¥™Õ∫·≈–π”‡ πÕμàÕ§≥–°√√¡°“√∫√‘…—∑‡æ◊ËÕÕπÿ¡—μ‘

5 ª√—∫ª√ÿß·≈–·°â ‰¢°Æ∫—μ√§≥–°√√¡°“√ √√À“·≈–°”Àπ¥§à“μÕ∫·∑π ·≈–π”‡ πÕμàÕ§≥–°√√¡°“√∫√‘…—∑‡æ◊ËÕæ‘®“√≥“Õπÿ¡—μ‘

6 ªØ‘∫—μ‘°“√Õ◊Ëπ„¥ μ“¡∑’Ë§≥–°√√¡°“√∫√‘…—∑¡Õ∫À¡“¬

πÕ°®“°π’È §≥–°√√¡°“√∫√‘À“√‰¥â®—¥μ—Èß§≥–Õπÿ°√√¡°“√™ÿ¥μà“ßÊ ‡æ◊ËÕ„Àâæπ—°ß“π¡’ à«π√à«¡„π°“√®—¥°“√‡√◊ËÕßμà“ßÊ ¿“¬„π∫√‘…—∑

„Àâ¡’§«“¡∂Ÿ°μâÕß‡À¡“– ¡ ¡’ª√– ‘∑∏‘¿“æ·≈–ª√– ‘∑∏‘º≈μàÕ∫√‘…—∑ ‚¥¬¡’§≥–°√√¡°“√∫√‘À“√‡ªìπ∑’Ëª√÷°…“®”π«π 1 ∑à“π„π·μà≈–§≥–

´÷Ëßª√–°Õ∫¥â«¬

1. §≥–°√√¡°“√§«“¡ª≈Õ¥¿—¬ Õ“™’«Õπ“¡—¬ ·≈– ¿“æ·«¥≈âÕ¡„π°“√∑”ß“π

2. §≥–°√√¡°“√ª√—∫ª√ÿßª√– ‘∑∏‘¿“æ°“√º≈‘μ ·≈–Õπÿ√—°…åæ≈—ßß“π

3. §≥–∑”ß“π‚§√ß°“√‚√ßß“π ’¢“«

4. §≥–°√√¡°“√√–¥—∫π‚¬∫“¬°“√®—¥°“√ ‘Ëß·«¥≈âÕ¡Õ“™’«Õπ“¡—¬·≈–§«“¡ª≈Õ¥¿—¬

5. §≥–°√√¡°“√√–¥—∫π‚¬∫“¬°“√∫√‘À“√ß“π§ÿ≥¿“æ

6. §≥–°√√¡°“√¥”‡π‘π‚§√ß°“√∫√‘À“√§«“¡‡ ’Ë¬ß

°“√ √√À“°√√¡°“√·≈–ºŸâ∫√‘À“√°“√ √√À“∫ÿ§§≈‡æ◊ËÕ·μàßμ—Èß°√√¡°“√¥—ßπ’È

1 §≥–°√√¡°“√ √√À“®–°”Àπ¥§ÿ≥ ¡∫—μ‘¢Õß°√√¡°“√∑’ËμâÕß°“√ √√À“ ‡æ◊ËÕ„Àâ¡’Õß§åª√–°Õ∫·≈–§ÿ≥ ¡∫—μ‘μ“¡°ÆÀ¡“¬ / √–‡∫’¬∫

¢âÕ∫—ß§—∫∑’Ë‡°’Ë¬«¢âÕß √«¡∂÷ß°“√°”Àπ¥«‘∏’°“√‡ πÕ√“¬™◊ËÕºŸâ¡’§ÿ≥ ¡∫—μ‘


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9. To authorize executives of the company or other to act on their behalf10. To invite members of the management or relevant employees to provide explanations, opinions or documents as

necessary11. To consult with specialists or company consultants (if any) or hire third-party consultants or specialists if necessary

at the expense of the company12. To stipulate any other regulations as deemed appropriate

Authorities and Responsibilities of the Nomination and Remuneration CommitteeSelection1. To identify and screen nominee individuals who are qualified to serve as the company,s directors,2 . To review the background of selected nominee to ensure that they are qualified by their knowledge, competence,

experience and expertise in accordance with company regulations and relevant laws3. To provide selection opinions or recommendations for the consideration of the Board of Directors;4. To nominate selected nominee to the Board of Directors for consideration;5. To revise the Nomination and Remuneration Committee Charter, when needed, and propose to the Board of

Directors for approval;6. To engage in any other actions as assigned by the Board of Directors.

Compensation1. To evaluate the performance of the Board of Directors each year;2. To determine the compensation of company directors on the basis of the operational performance of the company,

the amount of compensation approved by a shareholdersû meeting and the amount paid in the prior year, in order topropose such amount to the Board of Directors for their consideration and to the shareholders meeting for approval;

3. To determine the compensation for company directors on the basis of performance, as well as, duties andresponsibilities, which is not in excess of the amount approved by the shareholders and propose such amount to theBoard of Directors for approval;

4. To determine the compensation for members of the Nomination and Remuneration Committee (those who arenot the company directors) on the basis of performance and responsibilities; and, propose such amount to the Boardof Directors for approval

5. To revise the Nomination and Remuneration Committee Charter and propose to the Board of Directors for approval6. To engage in any other actions as assigned by the Board of Directors

Additionally, the Executive Committee has established several committees in order to have employees jointly organizethe internal management appropriately, efficiently, and effectively to the company. Each committee has at least oneExecutive Director to be a consultant. The established committees at present are as follows :1. The Committee of Safety, Occupational Health and Working Environment2. The Committee of Product Efficiency and Energy Conservation3. The Committee of White Factory4. The Environmental, Occupational Health and Safety Management Committee5. The Quality Management Committee6. The Enterprise Risk Management Steering Committee

Selection of Directors and ExecutivesThe Nominated and Remuneration Committee shall screen and select qualified nominee to be elected as the company

director as follows:1. The Nominated and Remuneration Committee will stipulate the qualifications of nominee in compliance with the

regulations or relevant law, and set up the procedure on how put selected nominee on the list for consideration andapproval.

24

2 §≥–°√√¡°“√ √√À“®– √ÿªº≈°“√ √√À“ ·≈–‡ πÕ™◊ËÕºŸâ∑’Ë¡’§«“¡‡À¡“– ¡∑’Ë®–‡ªìπ°√√¡°“√∫√‘…—∑œ æ√âÕ¡‡Àμÿº≈ª√–°Õ∫·≈–

π”‡ πÕμàÕ§≥–°√√¡°“√∫√‘…—∑œ

3 §≥–°√√¡°“√∫√‘…—∑œ ®–æ‘®“√≥“§—¥‡≈◊Õ°ºŸâ∑’Ë¡’§ÿ≥ ¡∫—μ‘‡À¡“– ¡μ“¡√“¬™◊ËÕ∑’Ë§≥–°√√¡°“√ √√À“‡ πÕ ‡æ◊ËÕ‡ πÕπ”‡ πÕ√“¬™◊ËÕ

μàÕ∑’Ëª√–™ÿ¡ºŸâ∂◊ÕÀÿâπ‡æ◊ËÕæ‘®“√≥“Õπÿ¡—μ‘μàÕ‰ª

§à“μÕ∫·∑π§≥–°√√¡°“√·≈–ºŸâ∫√‘À“√∫√‘…—∑ ‰¥â°”Àπ¥§à“μÕ∫·∑π°√√¡°“√∑’Ë‡ªìπ∏√√¡·≈– ¡‡Àμÿ ¡º≈ ‚¥¬‰¥âæ‘®“√≥“∂÷ß§«“¡‡À¡“– ¡ ·≈–Àπâ“∑’Ë§«“¡√—∫º‘¥™Õ∫

·≈– ∂“π–°“√‡ß‘π¢Õß∫√‘…—∑ ‚¥¬‰¥â°”Àπ¥§à“μÕ∫·∑π„Àâ°—∫°√√¡°“√„π√Ÿª·∫∫¢Õß∫”‡ÀπÁ®·≈–‡∫’È¬ª√–™ÿ¡ ‚¥¬Õ¬Ÿà„π«ß‡ß‘π∑’Ë∫√‘…—∑

‰¥â¢ÕÕπÿ¡—μ‘§à“μÕ∫·∑π°√√¡°“√®“°∑’Ëª√–™ÿ¡ºŸâ∂◊ÕÀÿâπ·≈â« ”À√—∫§à“μÕ∫·∑π¢ÕßºŸâ∫√‘À“√π—Èπ ∫√‘…—∑‰¥âæ‘®“√≥“∂÷ßº≈°“√ªØ‘∫—μ‘ß“π

·≈–°“√ª√–‡¡‘πº≈μ“¡‡ªÑ“À¡“¬ æ√âÕ¡π”‡ πÕμàÕ§≥–°√√¡°“√‡æ◊ËÕæ‘®“√≥“·≈–Õπÿ¡—μ‘ ´÷Ëß “¡“√∂ √ÿª‰¥â¥—ßπ’È

§à“μÕ∫·∑π∑’Ë‡ªìπμ—«‡ß‘π

§à“μÕ∫·∑π‡ª√’¬∫‡∑’¬∫‚¥¬ √ÿª ”À√—∫°√√¡°“√·≈–ºŸâ∫√‘À“√¢Õß∫√‘…—∑„πªï 2551 ·≈–ªï 2552 ¥—ßπ’È (√“¬≈–‡Õ’¬¥§à“μÕ∫·∑π

√“¬∫ÿ§§≈‰¥â¡’°“√‡ªî¥‡º¬¢âÕ¡Ÿ≈ „π¢âÕ 9.3 §à“μÕ∫·∑π§≥–°√√¡°“√·≈–ºŸâ∫√‘À“√ „π·∫∫ 56-1)

(Àπà«¬: ∫“∑)

§≥–°√√¡°“√ ªï 2552 ªï 2551 √“¬≈–‡Õ’¬¥¢Õß§à“μÕ∫·∑π

®”π«π√“¬ ®”π«π‡ß‘π ®”π«π√“¬ ®”π«π‡ß‘π

°√√¡°“√ 14 6,440,000 13 7,860,000 ‡∫’È¬ª√–™ÿ¡ ∫”‡ÀπÁ®°√√¡°“√

ºŸâ∫√‘À“√ 12 17,454,700 9 18,207,824 ‡ß‘π‡¥◊Õπ ‚∫π— «— ¥‘°“√

§à“μÕ∫·∑πÕ◊Ëπ

∫√‘…—∑‰¥â®—¥ «— ¥‘°“√·≈–§à“μÕ∫·∑πÕ◊ËπÊ πÕ°‡Àπ◊Õ®“°‡ß‘π‡¥◊Õπ ‚∫π— „Àâ°—∫ºŸâ∫√‘À“√·≈–æπ—°ß“π μ“¡§«“¡‡À¡“– ¡°— ¿“«–

‡»√…∞°‘® ‡™àπ °Õß∑ÿπ ”√Õß‡≈’È¬ß™’æ °“√ª√–°—π ÿ¢¿“æ ‡ªìπμâπ ∑—Èßπ’È ‡ªìπ‰ªμ“¡π‚¬∫“¬·≈–À≈—°‡°≥±å∑’Ë°”Àπ¥ ‚¥¬‡™◊ËÕ¡‚¬ß°—∫

º≈°“√¥”‡π‘πß“π¢Õß∫√‘…—∑œ


25


2. The Nominated and Remuneration Committee will summary and propose qualified nominee to be appointed asthe company director with their reason to the Board of Director;

3. The Board of Directors will consider and select the qualified nominee on the list proposed by the Nominatedand Remuneration Committee, and propose for an approval on the shareholdersû meeting.

Remuneration to the Directors and the ManagementThe company has fairly and logically provided the remuneration by consideration of the responsibility and its

financial performance. The compensation paid to the Directors is consisted of remuneration and meeting allowanceswhich had been approved by the shareholders. Whereas, the remuneration paid to the management is tied to eachperformance under an assessment system and its key performance indicators, which was proposed to the Board forreview and approval. The remunerations to the Directors and the management for 2009 was as follows:

Remuneration in the cash formThe overall remuneration for the Directors and management of the company in 2008 and 2009 was in the table below.

Further information of individual remuneration is disclosed in Section 9.3 Executivesû Remuneration on the annualstatements (Form 56-1).

(unit: Baht)

Board of Directors 2009 2008 Form of RemunerationTotal Amount Total Amount

(Baht) (Baht)Directors 14 6,440,000 13 7,860,000 Meeting fees and remunerationExecutives 12 17,454,700 9 18,207,824 Salary, bonus, and others

Others RemunerationThe company has established welfare and other compensations apart from salary and bonus contribution to the

management and all employees. These reflect domestic economic conditions such as the provident fund, health insurance,in accordance with the companyûs policy and regulations related to the operational performance.

26

√“¬°“√√–À«à“ß°—π / Transaction with Related Companies

∫ÿ§§≈∑’ËÕ“®¡’§«“¡¢—¥·¬âß°—π≈—°…≥–§«“¡ —¡æ—π∏å

Parties of Mutual Interestes‡ªìπºŸâ∂◊ÕÀÿâπ/ ¡’ºŸâ∂◊ÕÀÿâπ√à«¡°—π/

Shareholder Common Shareholder

1 ∫¡®. Àæ—≤π“ Õ‘π‡μÕ√å‚Œ≈¥‘Èß /Saha Pattana Inter-Holding PCL.

2 ∫¡®. ‡Õ ·Õπ¥å ‡® Õ‘π‡μÕ√å‡π™—Ëπ·π≈ ‡Õπ‡μÕ√å‰æ√ å /S&J International Enterprises PCL.

3 ∫¡®. ‰Õ. ’. ’ Õ‘π‡μÕ√å‡π™—Ëπ·π≈ /I.C.C. International PCL.

4 ∫¡®. Àæ—≤πæ‘∫Ÿ≈ /Saha Pathanapibul PCL.

5 ∫¡®. ª√–™“Õ“¿√≥å /Peopleûs Garment PCL.

6 ∫¡®. ‡∑Á° å‰∑≈å‡æ√ ∑’® /Textile Prestige PCL.

7 ∫¡®. ∏πŸ≈—°…≥å /Thanulux PCL.

8 ∫¡®. ‰∑¬«“‚°â /Thai Wacoal PCL.

9 ∫®. Õ‘π‡μÕ√å‡π™—Ëπ·π≈ ·≈∫∫Õ√“∑Õ√’ å /International Laboratories Corp.

10 ∫®. ·™¡ªá‡Õ™ /Champ Ace Co., Ltd.

11 ∫®. ÕÕªÕ‡√™—ËππÕ≈ ‡ÕÁπ‡πÕ√å¬’Ë °√ÿäª /Operational Energy Group Co., Ltd.

12 ∫®. ‘π¿√“¥√ /Sinparadorn Co., Ltd.

13 ∫®. æ‘∑—°…å°‘®Pitakkij Co., Ltd.

14 ∫®. æ’ ∑’ ‡§ ¡—≈μ‘‡´Õ√å«‘ PTK Multiservices Co., Ltd

15 ∫®. À‚§‡®π °√’πSahacogen Green Co., Ltd.

16 ∫®. À°√’π øÕ‡√ ∑åSahagreen Forest Co., Ltd.


27


(Àπà«¬ : ≈â“π∫“∑) / (Unit : Baht)

Relationship≈—°…≥–√“¬°“√ ªï 2552

ºŸâ∫√‘À“√√à«¡°—π/ ∫√‘…—∑¬àÕ¬/Subject Year 2009

common directors Subsidiary

/ ≈Ÿ°Àπ’È°“√§â“/Account Receivable 108.5‡®â“Àπ’È°“√§â“/Account Payable 0.2¢“¬ ‘π§â“/Sale 1,227.9§à“„™â®à“¬/Expenses 8.0§à“‡™à“∑’Ë¥‘π/Land rental expense -´◊ÈÕ∑’Ë¥‘π 65.4

/ -

/ -

/ -

/ -

/ -

/ -

/ -

/ -

/ -

/ ‡®â“Àπ’È°“√§â“/Account Payable 52.2§à“„™â®à“¬/Expenses 148.7

/ §à“‡™à“∑’Ë¥‘π/Land rental expense 1.7

/ ‡®â“Àπ’È°“√§â“/Account Payable 0.04§à“∫√‘°“√/Service Charges -

/ ‡®â“Àπ’È°“√§â“/Account Payable 0.2§à“∫√‘°“√/Service Charges -

/ ‡®â“Àπ’ÈÕ◊Ëπ/Account Payable -‡®â“Àπ’È‡ß‘π°Ÿâ¬◊¡√–¬– —Èπ/Short Tern loan -§à“∫√‘°“√/Service Charges 3.5¥Õ°‡∫’È¬√—∫ 0.9

/ -

28

§«“¡ ¡‡Àμÿ ¡º≈¢Õß°“√∑”√“¬°“√√–À«à“ß°—π√“¬°“√√–À«à“ß°—π„πªï∑’Ëºà“π¡“∑—ÈßÀ¡¥‡ªìπ‰ª‡æ◊ËÕ°“√¥”‡π‘π∏ÿ√°‘®μ“¡ª°μ‘¢Õß∫√‘…—∑ ‚¥¬¡’π‚¬∫“¬„π°“√∑”√“¬°“√¥—ß°≈à“«

‡æ◊ËÕª√–‚¬™πå Ÿß ÿ¥¢Õß∫√‘…—∑ ∑—Èß¥â“ππ‚¬∫“¬°“√°”Àπ¥√“§“®–æ‘®“√≥“®“°√“§“μ≈“¥‡ªìπ ”§—≠ √“¬°“√√–À«à“ß°—π„πªï∑’Ëºà“π¡“

‡°‘¥®“° —≠≠“μà“ßÊ ´÷Ëß¡’≈—°…≥–¢Õß√“¬°“√‚¥¬ √ÿª¥—ßπ’È

1. √“¬°“√√–À«à“ß∫√‘…—∑°—∫∫√‘…—∑ Àæ—≤π“Õ‘π‡μÕ√å‚Œ≈¥‘Èß ®”°—¥ (¡À“™π)ë ≈—°…≥–¢Õß√“¬°“√·≈– —≠≠“ : —≠≠“¢“¬‰øøÑ“·≈–‰ÕπÈ”

‡π◊ËÕß®“°∫√‘…—∑‰¥â∑” —≠≠“ ◊ÈÕ¢“¬‰øøÑ“·≈–‰ÕπÈ”°—∫ ∫√‘…—∑ Àæ—≤π“Õ‘π‡μÕ√å‚Œ≈¥‘Èß ®”°—¥ (¡À“™π) ‚¥¬®à“¬

º≈μÕ∫·∑π„π√Ÿª·∫∫¢ÕßÕ—μ√“ à«π≈¥§à“æ≈—ßß“π‰øøÑ“ ( à«π≈¥√âÕ¬≈– 0.5 „πªï∑’Ë 1-10 ·≈– à«π≈¥√âÕ¬≈– 1.5 „πªï∑’Ë

11-15) ·≈– à«π≈¥§à“‰ÕπÈ” („πÕ—μ√“ 0.5% μ≈Õ¥Õ“¬ÿ —≠≠“) ‚¥¬„πªï∑’Ëºà“π¡“¡’√“¬°“√¢“¬‰øøÑ“·≈–‰ÕπÈ”ª√–¡“≥

1,228 ≈â“π∫“∑·≈–¡’§à“∏√√¡‡π’¬¡°“√§È”ª√–°—π§«“¡μâÕß°“√‰øøÑ“¢—ÈπμË”ª√–¡“≥ 5.5 ≈â“π∫“∑

ë ≈—°…≥–¢Õß√“¬°“√·≈– —≠≠“ : —≠≠“´◊ÈÕπÈ”¥‘∫ ·≈–§à“∫”∫—¥πÈ”‡ ’¬

∫√‘…—∑‰¥â¡’°“√∑” —≠≠“°“√´◊ÈÕπÈ”¥‘∫®“° ∫√‘…—∑ Àæ—≤π“Õ‘π‡μÕ√å‚Œ≈¥‘Èß ®”°—¥ (¡À“™π) ‡æ◊ËÕ„Àâ¡’·À≈àßπÈ”¥‘∫ ”√Õß„™â

„π°‘®°“√º≈‘μ‰øøÑ“·≈–‰ÕπÈ”‰¥â ÷Ëß√“§“πÈ”¥‘∫√«¡∂÷ß§à“∫√‘°“√„π°“√∫”∫—¥πÈ”‡ ’¬∑’Ë ∫√‘…—∑ Àæ—≤π“Õ‘π‡μÕ√å‚Œ≈¥‘Èß ®”°—¥

(¡À“™π) ‡√’¬°‡°Á∫°—∫∫√‘…—∑®–‡ªìπ√“§“¡“μ√∞“π∑’Ë‡√’¬°‡°Á∫°—∫‚√ßß“πÕÿμ “À°√√¡Õ◊Ëπ∑’Ëμ—ÈßÕ¬Ÿà„π «πÕÿμ “À°√√¡‡§√◊Õ

Àæ—≤πå-»√’√“™“ ‚¥¬„πªï 2552 ∫√‘…—∑‰¥â®à“¬§à“πÈ”¥‘∫·≈–§à“∫”∫—¥πÈ”‡ ’¬ª√–¡“≥ 2.5 ≈â“π∫“∑ ´÷Ëß√“¬°“√¥—ß°≈à“«‡ªìπ

°“√§â“ª°μ‘·≈–¡’§«“¡ ¡‡Àμÿ ¡º≈‡æ◊ËÕª√–‚¬™πå Ÿß ÿ¥¢Õß∫√‘…—∑ ·≈–√“§“∑’Ë§‘¥√–À«à“ß°—π∂◊Õ‰¥â«à“‡ªìπ√“§“∑’Ë¬ÿμ‘∏√√¡

ë ≈—°…≥–¢Õß√“¬°“√·≈– —≠≠“ : ´◊ÈÕ∑’Ë¥‘π

∫√‘…—∑ À‚§‡®π °√’π ®”°—¥(∫√‘…—∑¬àÕ¬) ‰¥â∑” —≠≠“ ◊ÈÕ∑’Ë¥‘π®“° ∫√‘…—∑ Àæ—≤π“Õ‘π‡μÕ√å‚Œ≈¥‘Èß ®”°—¥ (¡À“™π) μ—ÈßÕ¬Ÿà

≥ «πÕÿμ “À°√√¡ Àæ—≤πå ≈”æŸπ ‡æ◊ËÕ¥”‡π‘π‚§√ß°“√º≈‘μæ≈—ßß“π®“°™’«¡«≈ ®”π«π 65.4 ≈â“π∫“∑ ÷Ëß√“¬°“√

¥—ß°≈à“«‡ªìπ°“√§â“ª°μ‘¡’§«“¡ ¡‡Àμÿ ¡º≈ ·≈–√“§“∑’Ë§‘¥√–À«à“ß°—π∂◊Õ‰¥â«à“‡ªìπ√“§“∑’Ë¬ÿμ‘∏√√¡

2. √“¬°“√√–À«à“ß∫√‘…—∑°—∫∫√‘…—∑ ÕÕªÕ‡√™—ËππÕ≈ ‡ÕÁπ‡πÕ√å¬’Ë °√ÿäª ®”°—¥ë ≈—°…≥–¢Õß√“¬°“√·≈– —≠≠“ : —≠≠“√—∫∫√‘°“√¥â“π°“√®—¥°“√‡°’Ë¬«°—∫°“√¥”‡π‘πß“π·≈– àÕ¡∫”√ÿß ·≈– —≠≠“‡™à“

‡§√◊ËÕß®—°√ ”√Õß

∫√‘…—∑‰¥â∑” —≠≠“ªØ‘∫—μ‘°“√‡¥‘π‡§√◊ËÕß·≈–∫”√ÿß√—°…“‚√ß‰øøÑ“ (Operational and Maintenance Agreement) °—∫∫√‘…—∑

ÕÕªÕ‡√™—ËππÕ≈ ‡ÕÁπ‡πÕ√å¬’Ë °√ÿäª ®”°—¥ ‡æ◊ËÕ¥”‡π‘π°“√‡¥‘π‡§√◊ËÕß·≈–∫”√ÿß√—°…“‚√ß‰øøÑ“ ‚¥¬§à“μÕ∫·∑π‡ªìπÕ—μ√“‡¥’¬«

°—∫∑’Ë ∫√‘…—∑ ÕÕªÕ‡√™—ËππÕ≈ ‡ÕÁπ‡πÕ√å¬’Ë °√ÿäª ®”°—¥ §‘¥°—∫≈Ÿ°§â“∑—Ë«‰ª √“¬°“√√–À«à“ß°—ππ’È®÷ß‡ªìπ°“√§â“ª°μ‘·≈–¡’§«“¡

¡‡Àμÿ ¡º≈ „π à«π¢Õß —≠≠“°“√‡™à“‡§√◊ËÕß®—°√ ”√Õß°—∫∫√‘…—∑ÕÕªÕ‡√™—ËππÕ≈ ‡ÕÁπ‡πÕ√å¬’Ë °√ÿäª ®”°—¥ ‡ªìπ°“√æ‘®“√≥“

§—¥‡≈◊Õ°‡ß◊ËÕπ‰¢∑’Ë„Àâª√–‚¬™πåμàÕ∫√‘…—∑ ÿß ÿ¥‡¡◊ËÕ‡ª√’¬∫‡∑’¬∫°—∫‡ß◊ËÕπ‰¢°“√‡™à“¢ÕßºŸâ‡ πÕ√“¬Õ◊Ëπ ‚¥¬„πªï∑’Ëºà“π¡“

∫√‘…—∑‰¥â™”√–§à“∫√‘°“√ ”À√—∫°“√¥”‡π‘π°“√μ“¡ —≠≠“ 73.43 ≈â“π∫“∑ ·≈–§à“‡™à“‡§√◊ËÕß®—°√ 75.31 ≈â“π∫“∑

3. √“¬°“√√–À«à“ß∫√‘…—∑°—∫∫√‘…—∑ ‘π¿√“¥√ ®”°—¥ë ≈—°…≥–¢Õß√“¬°“√·≈– —≠≠“ : —≠≠“‡™à“∑’Ë¥‘π

∫√‘…—∑‰¥â‡™à“∑’Ë¥‘π¢Õß∫√‘…—∑ ‘π¿√“¥√ ®”°—¥ ‡æ◊ËÕ„™â‡ªìπ∑“ß‡¢â“-ÕÕ° ·≈– ”À√—∫«“ß√–∫∫®”Àπà“¬‰øøÑ“·≈–‰ÕπÈ” „πÕ—μ√“

§à“‡™à“∑’Ë ¡‡Àμÿ ¡º≈·≈–¬ÿμ‘∏√√¡ ‚¥¬‡ªìπÕ—μ√“‡¥’¬«°—π°—∫∑’Ë∫√‘…—∑ ‘π¿√“¥√ ®”°—¥ ‰¥âμ°≈ß°—∫≈Ÿ°§â“√“¬Õ◊Ëπ„π‡¢μ «π

Õÿμ “À°√√√¡‡§√◊Õ Àæ—≤πå »√’√“™“ ‚¥¬„πªï∑’Ëºà“π¡“∫√‘…—∑‰¥â™”√–§à“‡™à“∑’Ë¥‘πª√–¡“≥ 1.7 ≈â“π∫“∑


29


Appropriations of Related TransactionDetails of related transactions in 2009 were conducted in the normal course of business operation. The company has

a policy to maintain the optimal benefit, including the pricing policy which shall be significantly determined by the marketprice. The related party transactions in 2009 are as follows:

1. Transaction with Saha Pattana Inter-Holding PCL (SPI)ë Transaction : Electricity and Steam Purchase Agreements

Due to the Electricity and Steam Purchase Agreement with SPI with the predetermined applicable discount(0.5% on the 1-10 contract year and 1.5% on the rest for electricity and 0.5% thorough the contract year forsteam), the electricity energy and steam charges in 2009 was totally Baht 1,228 million and fee paid forguarantee of minimum electricity demand was Baht 5.5 million.

ë Transaction : Raw Water Purchase Agreement and Water Treatment ServicesThe company also purchased raw water and regularly purchased waste water treatment services from SPI.The raw water and waste water treatment charged to the company are standardized for all industrial tenantsin the Sriracha Saha Group Industrial Park. In 2009, the company was charged for raw water and wastewater treatment at the amount of Baht 2.5 million, which this related transaction between the company andSPI are normal business practices.

ë Transaction: Purchase of LandSahacogen Green Co., Ltd had an purchasing agreement to purchase land located on Lamphun Saha GroupIndustrial Park for biomass power plant project from SPI at the amount of Baht 65.4 million. The price is a marketprice selling to others and as normal transaction practises.

2. Transaction with Operational Energy Group Ltd. (OEG)ë Transaction : Operation and Maintenance Agreement and Leased Engine Agreement

The applicable fees under the Operation and Maintenance Agreement with OEG are the normal market priceas charged to its other customers. The leased engine contract was entered with OEG after thorough evaluationthrough the bidding process. Therefore, this transaction is reasonable and is a normal business practice aswell. In 2009, the operation and services management fees was Baht 73.43 million and machinery lease feeswas Baht 75.31 million.

3. Transaction with Sinparadorn Co., Ltd.ë Transaction : Land Rental Agreement

The company has land rental agreement with Sinparadorn Co., Ltd of which the leased land was utilized asthe plant access and to accommodate the electricity and steam distribution system. The rental rate is normalmarket identical to all tenants located in the Sriracha Saha Group Industrial Park. Therefore, this transactionbetween the company and Sinparadorn Co., Ltd. is reasonable. The previous land rental expenses was Baht1.7 million.

30

4. √“¬°“√√–À«à“ß∫√‘…—∑°—∫∫√‘…—∑ À‚§‡®π °√’π ®”°—¥ë ≈—°…≥–¢Õß√“¬°“√ : °“√∫√‘°“√

∫√‘…—∑‰¥â®—¥μ—Èß∫√‘…—∑¬àÕ¬ §◊Õ∫√‘…—∑ À‚§‡®π °√’π ®”°—¥ ‡æ◊ËÕ¥”‡π‘π‚§√ß°“√º≈‘μæ≈—ßß“π®“°™’«¡«≈ ‚¥¬∫√‘…—∑‡ªìπ

ºŸâ∂◊ÕÀÿâπ 99.99% ¢Õß∫√‘…—∑ À‚§‡®π °√’π ®”°—¥ ®÷ß∂◊Õ‰¥â«à“√“¬°“√μà“ßÊ ∑’Ë‡°‘¥®“°°“√„Àâ∫√‘°“√ ‡ªìπ‰ªμ“¡¡Ÿ≈§à“∫—≠™’

‚¥¬„πªï∑’Ëºà“π¡“¡’°“√‡√’¬°‡°Á∫§à“∫√‘°“√®“°∫√‘…—∑ À‚§‡®π °√’π ®”°—¥ ®”π«π 3.5 ≈â“π∫“∑ ·≈–∫√‘…—∑œ ‡√’¬°‡°Á∫

§à“∫√‘°“√®“°∫√‘…—∑ À‚§‡®π °√’π ®”°—¥ ®”π«π 4.2 ≈â“π∫“∑

ë ≈—°…≥–¢Õß√“¬°“√ : ¥Õ°‡∫’È¬√—∫

¡’√“¬°“√∑’Ë‡°‘¥®“°°“√°Ÿâ¬◊¡´÷Ëß‰¥â„™âÕ—μ√“¥Õ°‡∫’È¬‡ß‘π°Ÿâ¬◊¡¢—ÈπμË”¢Õß∏π“§“√æ“≥‘™¬å À√◊ÕÕ—μ√“¥Õ°‡∫’È¬‡ß‘πΩ“° Ÿß ÿ¥

¢Õß∏π“§“√æ“≥‘™¬å ‚¥¬∫√‘…—∑‰¥â‡√’¬°‡°Á∫°—∫∫√‘…—∑ À‚§‡®π °√’π ®”°—¥ ´÷Ëß‡ªìπ∫√‘…—∑¬àÕ¬ ®”π«π 0.9 ≈â“π∫“∑

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·≈–μâÕß¡’°√√¡°“√μ√«® Õ∫‡¢â“√à«¡ª√–™ÿ¡ ‡æ◊ËÕæ‘®“√≥“·≈–Õπÿ¡—μ‘°“√∑”√“¬°“√√–À«à“ß°—π„Àâ‡ªìπ‰ªμ“¡°ÆÀ¡“¬«à“¥â«¬À≈—°∑√—æ¬å

·≈–μ≈“¥À≈—°∑√—æ¬å ·≈–¢âÕ∫—ß§—∫ ª√–°“» §” —Ëß À√◊Õ¢âÕ°”Àπ¥¢Õßμ≈“¥À≈—°∑√—æ¬å·Ààßª√–‡∑»‰∑¬ ´÷ËßºŸâ∑’ËÕ“®¡’§«“¡¢—¥·¬âßÀ√◊Õ

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√–À«à“ß°—π∑’Ë‡°‘¥¢÷Èπ„πªí®®ÿ∫—π·≈–μàÕ‰ª„πÕπ“§μ ‚¥¬®–¡’°“√°”Àπ¥¢âÕμ°≈ß·≈–‡ß◊ËÕπ‰¢μà“ßÊ „Àâ‡ªìπ‰ªμ“¡‡ß◊ËÕπ‰¢°“√§â“ª°μ‘∑—Ë«‰ª

·≈–‡ªìπ‰ªμ“¡√“§“μ≈“¥∑’Ë ¡‡Àμÿ ¡º≈ “¡“√∂μ√«® Õ∫À√◊Õ‡ª√’¬∫‡∑’¬∫√“§“∑’Ë‡°‘¥¢÷Èπ°—∫∫ÿ§§≈¿“¬πÕ°‰¥â æ√âÕ¡∑—Èßºà“π°“√Õπÿ¡—μ‘

μ“¡¢—ÈπμÕπ·≈–°Æ√–‡∫’¬∫∑’Ë‡°’Ë¬«¢âÕßÕ¬à“ß∂Ÿ°μâÕß à«π√“¬°“√√–À«à“ß°—π∑’ËÕ“®‡°‘¥¢÷Èπ‰¥â„πÕπ“§μπ—Èπ §≥–°√√¡°“√®–ªØ‘∫—μ‘„Àâ‡ªìπ

‰ªμ“¡°ÆÀ¡“¬ ¢âÕ∫—ß§—∫ ª√–°“» À√◊Õ¿“¬„μâª√–°“»·≈–¢âÕ∫—ß§—∫¢Õß§≥–°√√¡°“√°”°—∫À≈—°∑√—æ¬å·≈–μ≈“¥À≈—°∑√—æ¬å ·≈–

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ª√–°Õ∫ß∫°“√‡ß‘πμ“¡¡“μ√∞“π∫—≠™’∑’Ë°”Àπ¥‚¥¬ ¿“«‘™“™’æ∫—≠™’ ·≈–μ“¡√–‡∫’¬∫¢Õß ”π—°ß“π§≥–°√√¡°“√°”°—∫À≈—°∑√—æ¬å·≈–

μ≈“¥À≈—°∑√—æ¬å·Ààßª√–‡∑»‰∑¬


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4. Transaction with Sahacogen Green Co., Ltd.ë Transaction : Services Charges

Sahacogen (Chonburi) PCL. was established Sahacogen Green Co., Ltd as subsidiary for renewable energybusiness by which holding 99.99% of share. Any services as booked were normal business conditions. In 2009,the company charged its subsidiary, the service charges at the amount of Baht 3.5 million and, services revenueat the amount of Bath 4.2 million.

ë Transaction : Interest IncomeIn 2009, the company charged its subsidiary, Sahacogen Green Co., Ltd. for short term loan by calculatinginterest rate equivalent to lowest loan interest rate of commercial banks charged in general or the maximumdeposit interest rate. The total interest income charged in the previous year was Baht 0.9 million.

Procedural Approval of Related Business TransactionAccording to the companyûs policy, all transactions between the company and related entities or persons shall

be approved in the Board of Directorûs meeting with the presence of the audit committees. The review and approval ofthe related transactions will follow and in full compliance with the Securities and Exchange Act B.E. 2535 and rules,regulations and notifications regulated by the Stock Exchange of Thailand. Any directors having a conflict of interestswill not have right to vote on the approval of such related transactions.

Policy or Potential Related Transaction in the FutureThe company expects these related transactions at present will continue, however, the company has a policy

to control them to be a normal business practice and market price conditions. The company will assure the futurerelated transactions be fully controlled according to the law, rules and regulations of the Stock Exchange of Thailandand all to be disclose in the financial statements audited by the auditor.

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Risk Factors and ManagementIn consequence of continually risk management control, the risk factors disclosed have been reasonably well

managed. Apart from the risk factors directly related to its business in general, other risk factors are described as follows:

Operation Risksë Risks from the Expiry of the Concession to Operate the Power Business

Because of the Energy Regulatory Commission Notification on Energy Industry Operation License Types andClassifications B.E. 2008, the companyûs concession to operate the power business that would have ended in 15 yearsor in 2012 was cancelled and changed to energy industry operation license, which will terminate in 15 years or in2024. As a result, the company bears no risk for its concession not being extended before the contract with EGATends in 2024.

ë Raw Materials RiskTo secure essential raw materials, natural gas and raw water, the company has defined alleviating measures bysigning a contract with the PTT Public Company Limited for 21 years with four years extendable to purchase itsnatural gas. The contract term is 21 years with. Meanwhile, a 25-year contract with the Eastern Water ResourcesDevelopment and Management PCL was signed for the raw water supply. In emergency case, the raw water canbe drawn from a reservoir in the Sriracha Saha Group Industrial Park and 2,000 cubic meters retention pond withinthe power plant. Consequently, the impact for raw material shortage is hardly occurred.

ë Risk of Changes in Raw Materials PricesThe changes in main raw material prices such as gas price shall not be severely impacted to the companyrevenue since the company shall have compensation from the energy charge which calculated using a formulalinked to the respective natural gas price. Additionally, the electricity charge to Saha Pattana Inter-Holding PCL isreferenced with the electricity tariff of the Provincial Electricity Authority. The tariff contains one component calleda fuel tariff adjustment (FT) which will be adjusted every four-month period to reflect the actual average fuel costs,therefore, the change in fuel costs is also compensated. In case that the tariff adjustment is not consistently to thefluctuation of natural gas price, the company operation might be slightly effected to the revenue of selling electricityonly to the industrial park.

ë Risk in Dependence on Operation and MaintenanceEven the company is dependent on OEG for operation and maintenance, the risk on contract termination is quitelow. Since both OEG and the company have a common shareholder namely S&J International Enterprises PCL.To efficiently manage its operation, the company has set a key performance index for them to align in accordancewith the company business.

ë Environmental and Safety RiskThe company has continually monitored and controlled the environmental and safety impact in accordance withall relevant regulatory standards. The environmental and safety management has been assigned to monitor, assessand control any impacts Biannual reports on Environment Impact Assessment are regularly submitted to the Officeof Natural Resources and Environmental Policy and Planning (ONEP. Such continual proactive managementresulted in two consecutive year awards to the company as an outstanding enterprise in the power industrythat implements the appropriate prevention and mitigation measure in accordance with the environmental

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∫√‘…—∑¡’≈Ÿ°§â“À≈—° 2 √“¬‰¥â·°à °“√‰øøÑ“ΩÉ“¬º≈‘μ·Ààßª√–‡∑»‰∑¬ ·≈–∫√‘…—∑ Àæ—≤π“Õ‘π‡μÕ√å‚Œ≈¥‘Èß ®”°—¥ (¡À“™π)

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„πªí®®ÿ∫—π √«¡∑—Èß¡’°“√°”Àπ¥‡ß◊ËÕπ‰¢„π —≠≠“°“√ªØ‘∫—μ‘°“√·≈–∫”√ÿß√—°…“°—∫ ∫√‘…—∑ ÕÕªÕ‡√™—ËππÕ≈ ‡ÕÁπ‡πÕ√å¬’Ë °√ÿäª ®”°—¥

„Àâ¡’°“√√—∫ª√–°—πª√‘¡“≥ (Capacity) ·≈–‡ ∂’¬√¿“æ„π°“√®à“¬‰øøÑ“„Àâ°—∫°“√‰øøÑ“ΩÉ“¬º≈‘μ·Ààßª√–‡∑»‰∑¬ „π™à«ß§«“¡

μâÕß°“√„™â ‰øøÑ“ Ÿß ÿ¥ (EGAT Peak Period Capacity) ®÷ß¡’§«“¡‡ ’Ë¬ß¢Õß°“√∂Ÿ°ª√—∫≈¥ª√‘¡“≥æ≈—ß‰øøÑ“μ“¡ —≠≠“ ◊ÈÕ¢“¬

‰øøÑ“πâÕ¬¡“°

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®÷ßÕ¬Ÿà„π‡°≥±å∑’ËμË”

ë §«“¡‡ ’Ë¬ß®“°Õ—μ√“¥Õ°‡∫’È¬

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35


impact assessment reports and environmental management practice in the EIA Monitoring Awards by the Ministryof Natural Resources and Environment. As such the company does not foresee any environmental risks whichmay cause suspended operation or major cost for environmental control improvement.

Business Risksë Risk of Termination of Electricity and Steam Purchase Agreement

The company exposed to the risk if any one of two customers, EGAT and SPI, terminates its contract. However, sincethe commencement date till now, the company has continually fulfilled all obligations under the contract, the risk ofearly termination is deemed low.

ë Risk in Reduction of Electricity Purchase Demand of EGATThe company has always been able to generate and provide adequate electricity supply to EGAT and still havereserved capacity to provide 40% more of the existing electricity demand to the industrial tenants in the SrirachaSaha Group Industrial Park. The company also specified the conditions in the operation and maintenanceagreement with the Operational Energy Group Co., Ltd. (OEG) that OEG must guarantee the capacity and reliabilityof the electricity supply to EGAT, especially during peak periods. Therefore, the risk in reduction of EGATûs electricitydemand in the purchase contract is very low.

Financial Risksë Fluctuation in Exchange Rate Risk

The fluctuation in exchange rate between Baht and the US Dollar directly affected the majority of the companyûsrevenue from electricity capacity charge to EGAT. Since 80% of the capacity charges are indexed to the UScurrency rate. However, each one baht change in the exchange rate will affect the companyûs income approximately0.70% of the overall income, the risk on fluctuation in exchange rate is low.

ë Risk of Interest RateThe company carries no interest risk because of the current fixed interest rate till 2010. After the due date,the company is capable to negotiate or afford the good fixed interest rate. The risk on fluctuation of interest rateis very low.

36

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37


The Board of Directors of the company places importance on the building of good governance and carryingon business with transparency, integrity and accountability to performance, being competitive and fair to allparties concerned, in order to create prosperity and add economic value and wealth to shareholders. Managementof the company is based on the good governance principles of the Stock Exchange of Thailand and Sufficiency Economy,namely moderation, reasonableness and good immunity, by relying on knowledge, prudence and carefulness in planningand operation. At the same time all executives and employees are encouraged to be ethical, honest, diligent, patient, andto share and use wisdom in their conduct, in order to cope with economic, political, cultural and social changes forbalanced and sustainable well-being.

The companyûs good governance statement comprises good governance policy, business ethics and code of conduct.It passed approval by the Board of Directors of the company on February 19, 2003 and its suitability has been regularlyreviewed. The company considers its good governance policy, business ethics and code of conduct to be appropriate to thepresent situation, and they have been circulated to the directors, executives and employees and publicized on the companyûswebsite at www.sahacogen.com so as to be the uniform guideline for business conduct.

The companyûs good governance statement has been divided into the following 5 chapters in line with the goodgovernance practice for listed companies of 2006 of the Stock Exchange of Thailand:

Chapter 1: Rights of ShareholdersShareholders have rights of ownership. The companyûs good governance policy covers the protection of rights of

shareholders by recognizing and observing rights of ownership of shareholders. The company encourages shareholdersto exercise their rights and treats every shareholder equally. The basic rights of shareholders are purchase and sale ortransfer of shares, sharing in profits, adequate access to news and information of the company, attendance of shareholdersûmeeting to voice their opinion and participate in decision-making by voting at the shareholdersû meeting, e.g. election ofthe companyûs directors, determination of remuneration of the companyûs directors, appointment of auditor and approvalof matters affecting the company.

In addition to their basic rights, the company also takes steps taking into account rights of shareholders, withoutimpingement on their rights, and encourages and facilitates the exercise by shareholders of their rights as follows:

1.1 Right to information: Shareholders have equal right to information. The company publicizes its information inboth Thai and English languages through the Stock Exchange of Thailand and on its website at www.sahacogen.com.This will enable shareholders to receive information from the company such as results of operations, connectedtransactions, purchase or sale of material assets, top 10 shareholders of the company on the date of close ofshareholders register for annual general shareholdersû meeting, minutes of shareholdersû meeting, which mustbe completed within 14 days from the date of the meeting, and essential information for decision-making byshareholders.

1.2 Right to attend shareholdersû meeting: The company has held the annual general shareholdersû meeting within4 months from the last day of its fiscal year. In 2008, the company, for ease of shareholders, held such meetingNo. 7 on April 28, 2009 at Montien Riverside Hotel, No. 372 Rama 3 Road Bangkhlo, Bangkok, Thailand.

Before the date of the shareholdersû meetingThe company will notify the schedule of shareholdersû meeting 7 weeks before the date of meeting, which wasFebruary 27, 2009 so that shareholders can arrange their time to attend the meeting. In 2009, the general annualshareholdersû meeting was held on April 28, 2009, and the notice of the meeting together with all meeting documentswith the same contents as those to be delivered to shareholders in a hard copy were publicized through

Corporate Governance

38

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the companyûs website in Thai and English languages in advance, so that shareholders could study them inadvance before delivery of those documents on March 27, 2009. At each agenda item there were facts andreasons as well as opinion of the Board of Directors together with supporting documents for the meeting, e.g.annual report, proxy form B, resume of persons nominated as directors, map of the meeting venue, directionson documents and evidences to be produced by shareholders in attending the meeting, the companyûs articlesof association relating to the general annual shareholdersû meeting and meeting procedure. The company authorizedThailand Securities Depository Co., Ltd., the companyûs share registrar, to deliver them to shareholders 14 daysbefore the date of the shareholdersû meeting, so that shareholders who were not able to attend the meetingin person could authorize other or an independent director indicated in the proxy form stipulated by the Ministryof Commerce to attend and vote on behalf of the shareholders. Announcement was also made in a daily newspaperfor three consecutive days not less than 3 days prior to the date of the meeting to inform shareholders so thatthey have sufficient time to prepare themselves for the meeting.

The date of shareholdersû meetingThe companyûs directors place importance on shareholdersû meeting and it is considered as their duty to attendthe meeting except in case of illness or important engagement. At the general annual shareholdersû meeting No. 7held on April 28, 2009. thirteen directors were present. In addition, Department Manager - Project Management &Engineering, Department Manager - Administration, Accounting Manager, Quality, Safety & Environment Managerand auditor also attended the shareholdersû meeting so as to answer the shareholdersû questions.

The company facilitated all shareholders equally so that they could fully exercise their rights to attend the shareholdersûmeeting and vote, with the date, time and place of meeting not being an obstacle to attending the meeting. Adequatepersonnel were also provided to facilitate the registration of the meeting and registration was commenced for not lessthan 2 hours prior to the time of the meeting. Shareholders who attended the meeting after the meeting hadcommenced were allowed to vote on the agenda items not yet considered, and their presence was counted as partof the quorum since the agenda item on which voting was made. The company used barcode system to count thevotes cast on each agenda item and the results were announced to shareholders promptly and transparently. Dutystamps for affixing on proxies was also provided at the front desk. Appropriate catering was provided to shareholdersattending the meeting.

At each shareholdersû meeting, the company would report its results of operations, rate of dividend, considerationof and voting on matters required by law and articles of association. At the beginning of the meeting, the companysecretary reported the number/proportion of shareholders attending the meeting. Then the Chairman of the Boarddeclared the meeting convened and presided over the meeting. He explained rules applicable to the meeting andprocedure of voting, and conducted the meeting in accordance with the agenda, without adding agenda itemsor changing essential information without prior notice to shareholders. Appropriate and adequate time was allocatedfor discussion of issues of each agenda item. The shareholders were provided with an opportunity to ask questionsand comment on each agenda item. At last yearûs meeting no shareholder asked question or commented. However,if in any year shareholders asked questions or commented, the directors would clearly and precisely answer theirquestions. Result of voting at each agenda item would be concluded and presented to shareholders.

Significant agenda of the shareholdersû meeting included:(1) Appointment of directors: The company allows shareholders to elect directors individually, with data of persons

nominated for election and their holding of positions in other businesses in cases where they are directors in acompany operating business of the same nature as, and competitive to, the companyûs business, Additionally,the details of the Board of Directors meeting regarding the consideration of the nominated persons screened bythe Normination and Remuneration Committees for proposed to the shareholdersû meeting are disclosed.

40

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14 «—π π—∫®“°«—πª√–™ÿ¡ºŸâ∂◊ÕÀÿâπ∑—Èß¿“…“‰∑¬·≈–¿“…“Õ—ß°ƒ… ‡æ◊ËÕ‡ªìπ™àÕß∑“ß„ÀâºŸâ∂◊ÕÀÿâπ “¡“√∂μ√«® Õ∫¢âÕ¡Ÿ≈‰¥â‚¥¬‰¡à®”‡ªìπ

μâÕß√Õ„Àâ∂÷ß°“√ª√–™ÿ¡§√—ÈßμàÕ‰ª æ√âÕ¡∑—Èßπ” àß°√–∑√«ßæ“≥‘™¬å¿“¬„π‡«≈“∑’Ë°ÆÀ¡“¬°”Àπ¥

À¡«¥∑’Ë 2 ‡√◊ËÕß°“√ªØ‘∫—μ‘μàÕºŸâ∂◊ÕÀÿâπÕ¬à“ß‡∑à“‡∑’¬¡°—π∫√‘…—∑„Àâ§«“¡‡§“√æμàÕ ‘∑∏‘·Ààß§«“¡‡ªìπ‡®â“¢Õß¢ÕßºŸâ∂◊ÕÀÿâπ ‚¥¬ªØ‘∫—μ‘μàÕºŸâ∂◊ÕÀÿâπ∑ÿ°√“¬Õ¬à“ß‡∑à“‡∑’¬¡°—π ºŸâ∂◊ÕÀÿâπ∑ÿ°√“¬

¡’ ‘∑∏‘·≈–§«“¡‡∑à“‡∑’¬¡°—π ¥—ßπ’È

1) „π°“√ª√–™ÿ¡ºŸâ∂◊ÕÀÿâπ À“°‡ªìπºŸâ∂◊ÕÀÿâπμà“ß™“μ‘Àπ—ß ◊Õ∫Õ°°≈à“«π—¥ª√–™ÿ¡ √«¡∑—Èß‡Õ° “√ª√–°Õ∫°“√ª√–™ÿ¡·≈–√“¬ß“π°“√

ª√–™ÿ¡ ®–¡’°“√·ª≈‡ªìπ¿“…“Õ—ß°ƒ…·≈–®—¥ àß‰ªæ√âÕ¡°—∫™ÿ¥¿“…“‰∑¬ À√◊Õ “¡“√∂¥Ÿ‰¥â®“°‡«Á∫‰´¥å¢Õß∫√‘…—∑´÷Ëß¡’∑—Èß¿“…“‰∑¬

·≈–¿“…“Õ—ß°ƒ… ‡æ◊ËÕ„ÀâºŸâ∂◊ÕÀÿâπ∑ÿ°§π¡’ à«π√à«¡„π°“√æ‘®“√≥“·≈–ÕÕ°‡ ’¬ß≈ß§–·ππ„π°‘®°“√μà“ßÊ ¢Õß∫√‘…—∑μ“¡√–‡∫’¬∫

«“√–°“√ª√–™ÿ¡ À“°ºŸâ∂◊ÕÀÿâπ‰¡à “¡“√∂‡¢â“√à«¡ª√–™ÿ¡ “¡“√∂¡Õ∫©—π∑–„Àâ∫ÿ§§≈„¥∫ÿ§§≈Àπ÷ËßÀ√◊Õ°√√¡°“√μ√«® Õ∫´÷Ëß‡ªìπ

°√√¡°“√Õ‘ √–¢Õß∫√‘…—∑§π„¥§πÀπ÷Ëß‡¢â“ª√–™ÿ¡·∑π‡æ◊ËÕ‡ªìπμ—«·∑π√—°…“ ‘∑∏‘¢Õßμπ‰¥â ´÷Ëß∫√‘…—∑‰¥â„Àâ™◊ËÕ∑’ËÕ¬Ÿà ·≈–°“√¡’ à«π

‰¥â‡ ’¬„π«“√–°“√ª√–™ÿ¡¢Õß°√√¡°“√μ√«® Õ∫∑—Èß 4 §π ‰«â„πÀπ—ß ◊Õ∫Õ°°≈à“«π—¥ª√–™ÿ¡‡æ◊ËÕ„ÀâºŸâ∂◊ÕÀÿâπ‰¥â„™â¢âÕ¡Ÿ≈¥—ß°≈à“«

„π°√≥’∑’Ëª√– ß§å®–‡≈◊Õ°°√√¡°“√μ√«® Õ∫‡ªìπºŸâ√—∫¡Õ∫©—π∑–À√◊Õ “¡“√∂¥Ÿ¢âÕ¡Ÿ≈‡°’Ë¬«°—∫°√√¡°“√μ√«® Õ∫∑—Èß 4 §π ‰¥â„π

√“¬ß“πª√–®”ªï∑’Ë‰¥â àß‰ªæ√âÕ¡Àπ—ß ◊Õ∫Õ°°≈à“«π—¥ª√–™ÿ¡ ‚¥¬„™âÀπ—ß ◊Õ¡Õ∫©—π∑–∑’Ë∫√‘…—∑ ·π∫‰ªæ√âÕ¡°—∫Àπ—ß ◊Õ∫Õ°°≈à“«

π—¥ª√–™ÿ¡ ÷Ëß‡ªìπ ·∫∫ ¢. ‡æ◊ËÕ π—∫ πÿπ„ÀâºŸâ∂◊ÕÀÿâπ„™âÀπ—ß ◊Õ¡Õ∫©—π∑–∑’Ë “¡“√∂°”Àπ¥∑‘»∑“ß°“√≈ß§–·ππ‡ ’¬ß‰¥â À√◊Õ “¡“√∂

Download Àπ—ß ◊Õ¡Õ∫©—π∑–∑’Ë‰¥â®—¥∑” ·≈–ªØ‘∫—μ‘μ“¡ª√–°“»¢Õß°√–∑√«ßæ“≥‘™¬å®“°‡«Á∫‰´μå¢Õß∫√‘…—∑ ´÷Ëß¡’ 3 ·∫∫

§◊Õ ·∫∫ °. ·∫∫ ¢.·≈–·∫∫ §. ‚¥¬ “¡“√∂‡≈◊Õ°Àπ—ß ◊Õ¡Õ∫©—π∑–·∫∫„¥·∫∫Àπ÷Ëß πÕ°®“°π—Èπ∫√‘…—∑‰¥â®—¥„Àâ¡’Õ“°√· μ¡ªá

‡æ◊ËÕÕ”π«¬§«“¡ –¥«°·°àºŸâ∂◊ÕÀÿâπ∑’Ë¡Õ∫©—π∑– ´÷Ëß„πªï 2552 ∫√‘…—∑®—¥„Àâ¡’°“√ª√–™ÿ¡ “¡—≠ºŸâ∂◊ÕÀÿâπ §√—Èß∑’Ë 7 ‡¡◊Ë Õ

«—π∑’Ë 28 ‡¡…“¬π 2552 ‰¥â¡’ºŸâ∂◊ÕÀÿâπ‡¢â“√à«¡ª√–™ÿ¡∑—ÈßÀ¡¥ 93 ∑à“π ∂◊ÕÀÿâπ√«¡ 857,070,601 Àÿâπ §‘¥‡ªìπ 89.75% ¢Õß


41


(2) Determination of remuneration of directors: The company proposes the remuneration for approval by theshareholdersû meeting every year based on the results of its operations, amount of remuneration paid in the previousyear, and the authorities and responsibilities of the Board of Directors. The Normination and RemunerationCommittees propose the Board of Directors on such remuneration, which who approved and paid for considerationbefore proposing for consideration to the shareholdersû meeting for approval. The remuneration was paid to eachdirector was disclosed on form 56-1.

(3) Appointment of auditor and fixing of audit fee: The company will report to the shareholders for approvalinformation on the auditor, audit firm, independence and number of years of performing audit for the company,comparison between audit fee of the current year and the previous yearûs, proposed audit fee that has passeddeliberation by the Audit Committee, and other charges for services by the audit firm of the auditor.

(4) Payment of dividend: The company will report its dividend policy, actual amount paid compared to that underthe policy, and comparison between the dividend paid in the current year with that of the previous year.

To transparently on the shareholdersû meeting, the company recorded video tape throughout the meeting period andshown on the companyûs website at www.sahacogen.com.ë After the date of the shareholdersû meeting

After the date of the shareholdersû meeting, the company will prepare minutes of the annual general meetingstating the names of directors present/absent, cause of their absence, material explanations, questions and answersor comments in summary (if any). In the previous year there was no shareholder asking question or commenting.Details for each agenda item will reflect the reality at the meeting. Results of voting at each agenda item willbe classified as voting for, voting against and abstention. The said minutes will be reviewed by the ExecutiveBoard and the Chairman of the Board before signing by the chairman of the meeting, and they will be sent to theStock Exchange of Thailand and the Office of the Securities and Exchange Commission and publicized on thecompanyûs website within 14 days from the date of the shareholdersû meeting in Thai and English languages, sothat the shareholders can examine them without waiting until the next meeting. They will also be submitted tothe Ministry of Commerce within the period required by law.

Chapter 2: Equal Treatment of ShareholdersThe company respects the right of ownership of shareholders and treats every shareholder equally. Every shareholder

has equal rights as follows:1) Shareholdersû meeting: For foreign shareholders, the notice of meeting, meeting documents and minutes will be

translated into English and delivered together with the Thai version or they can be viewed through the companyûswebsite in both Thai and English languages, so that all shareholders can consider and vote on the affairs ofthe company according to the agenda. If a shareholder is unable to attend the meeting, he or she can appoint aproxy or a member of the Audit Committee, who is an independent director of the company, to attend the meetingas representative to preserve his or her rights. The company has indicated the name, address and interest of eachof the 4 members of the Audit Committee in the agenda of the notice so that shareholders can use such informationin case he or she wishes to select a member of the Audit Committee as his or her proxy, and the informationon the 4 members of the Audit Committee is available in the annual report delivered together with the noticeof the meeting. The shareholder can use the form of proxy attached to the notice, which is form B, to encourageshareholders to vote. The form can also be downloaded from the companyûs website. There are 3 forms, i.e. formsA, B and C, prepared in compliance with the notification of the Ministry of Commerce. Any one form of proxy canbe chosen. The company also provides duty stamps for shareholders appointing proxies. In 2009, the companyheld the annual general shareholdersû meeting No. 7 on April 28, 2009. There were a total of 93 shareholders

42

®”π«πÀÿâπ∑—ÈßÀ¡¥∑’Ë¡’ ‘∑∏‘ÕÕ°‡ ’¬ß‚¥¬¡’ºŸâ∂◊ÕÀÿâπ∑’Ë‰¥â¡Õ∫©—π∑–„Àâ°√√¡°“√μ√«® Õ∫´÷Ëß‡ªìπ°√√¡°“√Õ‘ √–∑’Ë∫√‘…—∑‡ πÕ„Àâ‡ªìπ

ºŸâ√—∫¡Õ∫©—π∑–‡ªìπºŸâÕÕ°‡ ’¬ß·∑π®”π«π 3 ∑à“π ´÷Ëß∂◊ÕÀÿâπ√«¡ 15,728,600 Àÿâπ

2) °“√°”Àπ¥ ‘∑∏‘ÕÕ°‡ ’¬ß„π∑’Ëª√–™ÿ¡ ‡ªìπ‰ªμ“¡®”π«πÀÿâπ∑’ËºŸâ∂◊ÕÀÿâπ∂◊ÕÕ¬Ÿà ‚¥¬Àπ÷ËßÀÿâπ¡’ ‘∑∏‘‡∑à“°—∫Àπ÷Ëß‡ ’¬ß∫√‘…—∑ ¥”‡π‘π°“√

ª√–™ÿ¡μ“¡≈”¥—∫√–‡∫’¬∫«“√–°“√ª√–™ÿ¡ ‰¡à‡æ‘Ë¡«“√–°“√ª√–™ÿ¡ À√◊Õ‡ª≈’Ë¬π·ª≈ß¢âÕ¡Ÿ≈ ”§—≠‚¥¬‰¡à‰¥â·®âß„ÀâºŸâ∂◊ÕÀÿâπ∑√“∫

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·≈–μ√«® Õ∫‰¥â ·≈–∫√‘…—∑ ‰¥â„™â√–∫∫ Barcode ¡“™à«¬„π°“√π—∫§–·ππ·≈–· ¥ßº≈∫πÀπâ“®Õ∑’ËÕ¬Ÿà„πÀâÕßª√–™ÿ¡

∑—π∑’ ºŸâ∂◊ÕÀÿâπ∑ÿ°∑à“π “¡“√∂∑√“∫§–·ππ„π·μà≈–«“√–«à“¡’ºŸâ‡ÀÁπ¥â«¬ ‰¡à‡ÀÁπ¥â«¬·≈–ß¥ÕÕ°‡ ’¬ß‰ªæ√âÕ¡°—π ‚¥¬¡’

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2.4 °“√¥”‡π‘π°“√°—∫§«“¡¢—¥·¬âß∑“ßº≈ª√–‚¬™πå ∫√‘…—∑‰¥â¥”‡π‘π∏ÿ√°‘®¥â«¬§«“¡√Õ∫§Õ∫ ¡’‡Àμÿ¡’º≈ §”π÷ß∂÷ßª√–‚¬™πå Ÿß ÿ¥

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attending the meeting, representing 857,070,601 shares or 89.75% of total shares. Two shareholders holding 15,711,400shares, authorized a member of the Audit Committee, who is an independent director as a proxy to vote for them.

2) Right to vote at the meeting: The voting right is in accordance with the number of shares held by a shareholder withone share having one vote. The meeting is conducted in order of the agenda items. No agenda items are added orchanged without prior notice to shareholders.2.1 Voting at each agenda item is made openly: Ballots are provided for shareholders for every agenda item.

Counting of votes will be made for only those who vote against and/or abstain from voting, and these voteswill be deducted from the total votes of shareholders present. The rest will be deemed as votes cast for.Accordingly, if at an agenda item, there is any shareholder who votes against or abstains from voting, a scoresignboard received upon registration will be shown. The signboard will indicate the name of the shareholderpresent, number of shares held or represented and barcode. The person in charge will bring the ballot to suchshareholder for signing as evidence for transparency and examination afterwards. The company uses barcode tohelp in counting votes and displays the result promptly on the screen in the conference room. All shareholderscan simultaneously know the votes for each agenda item classified as voting for, voting against and abstention.In the annual general shareholdersû meeting No. 6, the company had invited Mrs. Kobsuk Saengsawad, thelawyer of VIRA LAW Office Co., Ltd. as the witness of the vote.

2.2 Supervision of use of internal information: The company has internal information supervision measures,which are provided in its ethics toward the company and shareholders and in the code of conduct for directors,executives and employees so that they will perform duties with integrity, responsibility, disciplines andaccountability to the public and themselves, without abuse of their positions or functions for undue benefit forthemselves and/or others. They are also required to preserve the interest and assets of the company, withoutuse of the companyûs information and assets for their own and/or othersû benefit. No act may be done tosupport any other person to do business in competition with the company. The company has announcedthe same to its directors, executives and employees as a guideline for their business conduct and performance,and this is also publicized on the companyûs website.

In the companyûs work rules, the said matter is also covered with highest disciplinary measure, i.e. terminationof employment. The companyûs directors, executives and employees have performed as stipulated.

2.3 Inclusion of trading of the companyûs securities in its code of conduct: The company prohibits its directors,executives and employees who are in the departments in which they may be aware of internal information, fromtrading the companyûs securities during the period of one month before disclosure of its financial statements tothe public. In addition, the companyûs directors and executives (including their spouse and minor children) arerequired to report their securities holding. In case of trading of the companyûs shares, they must notify the Officeof the Securities and Exchange Commission, with copy to the Company secretary of Directors of the company,so that the same will be reported to the Board of Directors at the next Board of Directors meeting. At eachBoard of Directors meeting, there is an agenda item on holding of the companyûs securities by directors andexecutives, who know that they are required to comply with the applicable rules. In addition, if there is anychange in this matter, the company will send a letter notifying the directors and executives of the same, withcopy of letter and notification of the Securities and Exchange Commission regarding the said matter.

During the past year, the directors and executives of the company have strictly complied with the said policy.There was no trading of shares during the prohibition period. There was one director who traded the companyûssecurities and he notified the Office of the Securities and Exchange Commission of the same within the requiredperiod and have reported their securities holding to the Board of Directors of the company.

2.4 Conflict of interest: The company carries on business with prudence, reasonableness, taking into account thebest interest of the company. Pricing is made on the fair commercial terms as if it were a transaction made witha third party, with the practice in the said matter with transparency and in compliance with the rules of the Stock

44

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45


Exchange of Thailand. This is stipulated as one policy in good governance and is also provided in the ethicsrequired for treatment of the company and shareholders. Information is disclosed to provide equal opportunityof access to information. For example, for a connected transaction, the company has complied with thenotification of the Stock Exchange of Thailand regarding disclosure of information and practice of a listedcompany in a connected transaction. The company also requires that interested directors leave the conferenceroom and abstain from voting on that agenda item so that the uninterested directors can fully provide theiropinion and be independent in voting. The Company secretary of Directors will notify the meeting that for thatagenda item, which directors who have an interest must leave the conference room. Upon completion of themeeting, the name, relationship of the connected person, pricing, value of transaction, and directors who havedissenting opinion from that of the Board of Directors (if any) will be disclosed to the Stock Exchange ofThailand within the period required and the same will be publicized on the companyûs website for the sake oftransparency. The same will also be recorded in the minutes of meeting for examination afterwards.

For the annual general shareholdersû meeting No. 7, the company has allowed shareholders to propose an agendaand candidate for director election which all criteria and conditions are both in Thai and English informing throughthe SET channel and the companyûs website on the subject of investor relation Shareholders shall propose theiragenda during November 16, 2009 to December 16, 2009 directly to the company secretary as well.

Chapter 3: Roles of StakeholdersThe company places importance on the interests of various stakeholders, by carrying on its business with

accountability and fairness to all parties concerned. The company is committed to developing its business to achieveprosperity and sustainable growth, appropriately generating return to shareholders and protecting the companyûs interestand assets as if a reasonable man would do to preserve his own assets. This ensures that all stakeholders will betreated fairly, and the same is provided in the code of conduct for executives and employees.

ShareholdersThe company respects the basic rights of shareholders as provided by law, articles of association, and code of

conduct of the company, by treating all shareholders equally. The company has set up mechanism by which theshareholders can be confident that they will receive accurate information and appropriate return, fair return according tothe companyûs dividend policy. There are control of inter-transactions, conflict of interest prevention measures, preventionof use of internal information that is confidential. No directors, executives and employees who are aware of internalinformation may use the companyûs internal information for their own benefit including trading of the companyûs securitiesduring the period of one month prior to disclosure of its financial statements to the public. This is also stipulated in the codeof conduct of employees.

In 2009, the company paid dividend from its operation of 2008 at the rate of Baht 0.15 per share, accounting for50.09% of its net profits of its own financial statements. The dividend was scheduled to be paid on May 22, 2009. Dividendis paid to shareholders continuously every year, truly generating long-term wealth to shareholders. In addition, the companyreports its results of operations on a quarterly basis and discloses transactions with connected persons on the terms as ifmade with a third party through the report system of the Stock Exchange of Thailand and the companyûs website.

CustomersThe company carries on business with integrity and fairness and provides accurate information to its customers.

Complaints of customers are paid attention to and dealt with fairly to promptly response to the demands of the customers.Goods and services are developed to meet the demands of customers.

Commercial partnersThe company adheres to commercial terms and conditions within the framework of good faith and fair competition.

The company strictly keeps its promises to its commercial partners. They will be paid, receive goods as agreed punctually

46

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47


and are treated equally. The company promotes good relationship and understanding with them, exchanges knowledge, andcooperates with them in developing goods and services to add value to them. The company does not demand, receive oragree to receive property or any other benefit beyond commercial agreement.

CreditorsThe company strictly adheres to commitment to its creditors. In the past year, the company paid its commercial

creditors according to the credit terms agreed, without any default.

EmployeesThe company places importance on development of its personnel, recognizing that employees are a valuable

resource and are keys to the organizationûs success. The company therefore commits to encouraging training, developingknowledge and skill of all employees so as to found the basis to support the companyûs important businessstrategies continuously. This will create security in their career and progress according to each personûs potential.The company also sends its employees to study from its commercial partners, local and abroad, so that its personnelare competitive in any situation. The employees are also encouraged to participate in setting direction for operationand development. The company provides compensation with fairness and appropriately to knowledge, capability,responsibility and performance of each employee. (Details of implementation of this policy are disclosed in Section9.6.2 çPersonnel Development Policyé in Form 56-1)

The company takes care of working environment, taking into account safety to life, health and property of employeesby stipulating the policy on safety, occupational health and working environment. The safety, occupational health andworking environment committee and safety, occupational health and working environment section are establishedto oversee this aspect to ensure efficiency with regular monitoring. In 2009, the company provided training on çWorkSafety Awarenessé and çBasic Fire-Fighting and Evacuationé courses and conducted fire drill so that employeeshad knowledge and understanding of appropriate practice. The company also distributes information and knowledgeconcerning safety to employees through exhibition and the companyûs intranet regularly. At the same time, the companyalso regularly inspects safety and environment within its factory, and provides safety tools, appliances and equipmentfor employees in case of emergency. In addition, the company provides welfare to employees to promote their quality of lifeand well-being, e.g. library, annual physical check-up, medical expenses, health insurance, annual internal sports, uniform foremployees, provident fund, housing loans with low interest rate in cooperation with the Government Housing Bank.

CompetitorsThe company carries on business strictly within good faith and fair competition scope within legal framework.

The company has never had any dispute involving its competitors.

Communities and societyThe company recognizes its responsibility to communities and society by raising awareness of responsibility

to communities and society in the company continuously and promotes activities that benefit communities and societyas a whole.

EnvironmentThe company carries on business taking into account impact on natural resources and the environment. The company

was awarded the EIA Monitoring Award 2007 and 2008 for an outstanding enterprise in power industry conforming to themeasures in the environmental impact analysis and outstanding environmental management from the Office of NaturalResources and Environmental Policy and Planning, Ministry of Natural Resources and the Environment.

48

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Õ¬à“ß·∑â®√‘ß‚¥¬‰¥â√—∫§«“¡‡ÀÁπ™Õ∫®“°Àπà«¬ß“πªØ‘∫—μ‘ √«¡∑—Èß°“√‡ªî¥‡º¬¢âÕ¡Ÿ≈Õ¬à“ß‡æ’¬ßæÕ„Àâ‡°‘¥§«“¡‚ª√àß„ μ“¡·π«∑“ß°“√

°”°—∫¥Ÿ·≈°‘®°“√∑’Ë¥’ ‚¥¬√“¬ß“πº≈°“√μ√«® Õ∫‚¥¬μ√ßμàÕ§≥–°√√¡°“√μ√«® Õ∫

§≥–°√√¡°“√∫√‘À“√‰¥â¡’°“√μ‘¥μ“¡º≈°“√¥”‡π‘πß“π¢ÕßΩÉ“¬®—¥°“√ ‚¥¬°”Àπ¥„Àâ¡’°“√√“¬ß“π§«“¡°â“«Àπâ“¢Õßº≈°“√¥”‡π‘πß“π

·≈–º≈ª√–°Õ∫°“√¢Õß∫√‘…—∑∑ÿ°‡¥◊Õπ ·≈–„π°√≥’∑’Ë°√√¡°“√∑à“π„¥¡’°“√‡ª≈’Ë¬π·ª≈ß°“√∂◊ÕÀ≈—°∑√—æ¬å¢Õß∫√‘…—∑®–μâÕß àß ”‡π“√“¬ß“π

°“√∂◊ÕÀ≈—°∑√—æ¬å∑’Ë‰¥â àß„Àâ°—∫ ”π—°ß“π§≥–°√√¡°“√°”°—∫À≈—°∑√—æ¬å·≈–μ≈“¥À≈—°∑√—æ¬å„Àâ°—∫‡≈¢“πÿ°“√∫√‘…—∑ ‡æ◊ËÕπ”‡¢â“∑’Ëª√–™ÿ¡

§≥–°√√¡°“√∫√‘…—∑§√—ÈßμàÕ‰ª §≥–°√√¡°“√∫√‘…—∑¬—ß‰¥â®—¥„Àâ¡’√“¬ß“π§«“¡√—∫º‘¥™Õ∫¢Õß§≥–°√√¡°“√∫√‘…—∑μàÕ√“¬ß“π∑“ß°“√‡ß‘π

‚¥¬· ¥ß§«∫§Ÿà°—∫√“¬ß“π¢ÕßºŸâ Õ∫∫—≠™’„π√“¬ß“πª√–®”ªï ‚¥¬ª√–∏“π°√√¡°“√·≈–°√√¡°“√ºŸâ®—¥°“√‡ªìπºŸâ≈ßπ“¡„π√“¬ß“π¥—ß°≈à“«


49


However, if shareholders or any stakeholders have any concerns about the accuracy of the financial statements,defective internal control, legal offense or misconduct, they can contact the Managing Director at tel. 038-4815555 orfax 038-481551 or email [email protected] or the Secretary to the Audit Committee, who reports directly to theAudit Committee, at tel. 038-481555 or email [email protected], or Chairman of the Audit Committee at tel.038-481555 or fax 038-481551. Results of investigation will be reported to the Board of Directors of the company.Those making report or complaint will be strictly kept confidential. In 2009, there was no complaint from any shareholderor stakeholders.

Chapter 4: Disclosure and TransparencyThe company places importance on disclosure of material financial information accurately and in the timely

manner in accordance with the generally accepted accounting standard and principle, as well as non-financialinformation, with transparency, in strict compliance with laws, rules and regulations of the Office of the Securitiesand Exchange Commission, Stock Exchange of Thailand and other government agencies. The company also follows upwith amendments thereto so that shareholders, investors and the general public can be confident that the laws, rulesand regulations observed by the company are up-to-date, so that they are confident in the companyûs businessoperation, which will add value for shareholders. Parties concerned can access to information necessary to theirdecision-making through the channels provided by the company, e.g. annual report, Form 56-1, and the website ofthe Stock Exchange of Thailand at www.set.or.th and the companyûs website at www.sahacogen.com. In this connection,the company also provides its shareholders and investors with an opportunity to make inquiries through the companyûsinvestor relations, whereby the Managing Director is authorized to provide information and news to investors andthose concerned, by making contact at tel. 038-481555, fax 038-481551 or email [email protected]. This willfacilitate all stakeholders to access to information equally through several channels.

Every time when there is a transaction that may involve a conflict of interest, the Audit Committee will attendthe meeting and provide their opinion, and the director having a conflict of interest will not attend the meeting andnot vote on that agenda item so that the decision of the Board of Directors and executives will be made fairly for thebenefit of shareholders. Upon conclusion being reached the company will disclose the resolution of the meeting indicatingthe value of the transaction, contractual parties, reasons and needs for the transaction and other details of suchtransaction accurately, completely and in a timely manner in accordance with the rules of the Stock Exchange of Thailand.The transaction will also be summarized in the annual report and Form 56-1.

For the mechanism for monitoring, reviewing and balancing the power of management to ensure transparency,the company has an internal control that covers management, operation and finance. The company has hiredDharmniti Auditing Co., Ltd. as internal auditor to assess the internal control in accordance with the guideline stipulatedby the Board of Directors. The internal audit emphasizes on prevention to ensure concrete benefit of the relevantdepartment. It will try to find the causes and propose opinion on improvements to ensure true benefit, with approvalby the relevant department. The audit will also reveal adequate information to ensure transparency in accordance withthe good governance practice. Audit results will be reported directly to the Audit Committee.

The Executive Board has monitored the performance of Management by requiring reporting of progress ofperformance and results of operations of the company every month. If any director changes his or her holding ofthe companyûs securities, a copy of the report on securities holding submitted to the Office of the Securities andExchange Commission must also be delivered to the Company secretary of Directors, so that the matter can be tabledat the next Board of Directors meeting. The Board of Directors has also provided a report on the accountability of the Boardof Directors to the financial reports, which is presented along with the auditorûs report in the annual report, which is signedby the Chairman of the Board and the Managing Director.

50

§à“μÕ∫·∑π°√√¡°“√·≈–ºŸâ∫√‘À“√ë §à“μÕ∫·∑π°√√¡°“√

‡æ◊ËÕ„Àâ°√–∫«π°“√°”Àπ¥§à“μÕ∫·∑π°√√¡°“√‡ªìπ‰ªÕ¬à“ß‚ª√àß„ à §≥–°√√¡°“√∫√‘…—∑‰¥â·μàßμ—Èß§≥–°√√¡°“√ √√À“·≈–æ‘®“√≥“

§à“μÕ∫·∑π‡ªìπºŸâæ‘®“√≥“«ß‡ß‘π§à“μÕ∫·∑π∑’Ë‡À¡“– ¡ ‡ πÕμàÕ§≥–°√√¡°“√∫√‘…—∑ ·≈–¢ÕÕπÿ¡—μ‘μàÕ∑’Ëª√–™ÿ¡ “¡—≠ºŸâ∂◊ÕÀÿâπ∑ÿ°ªï

‚¥¬§à“μÕ∫·∑π°√√¡°“√æ‘®“√≥“®“°ª√– ∫°“√≥å Àπâ“∑’Ë§«“¡√—∫º‘¥™Õ∫ ·≈–Õ¬Ÿà„π√–¥—∫∑’Ë‡∑’¬∫‡§’¬ß‰¥â°—∫∫√‘…—∑„πÕÿμ “À°√√¡

‡¥’¬«°—π ‡æ◊ËÕ„Àâ “¡“√∂¥÷ß¥Ÿ¥·≈–√—°…“°√√¡°“√∑’Ë¡’§«“¡√Ÿâ§«“¡ “¡“√∂‰«â ‰¥â

„π°“√∑’Ëª√–™ÿ¡ “¡—≠ºŸâ∂◊ÕÀÿâπ §√—Èß∑’Ë 7 ‡¡◊ËÕ«—π∑’Ë 28 ‡¡…“¬π 2552 ‰¥âÕπÿ¡—μ‘«ß‡ß‘π§à“μÕ∫·∑π°√√¡°“√∫√‘…—∑√«¡‰¡à‡°‘π 10

≈â“π∫“∑μàÕªï ·≈–∫√‘…—∑‰¥â®”π«π∑—Èß ‘Èπ 6,440,000 ∫“∑ ‚¥¬‡ πÕ„Àâ®à“¬‡ªìπ

- §à“‡∫’È¬ª√–™ÿ¡ ®à“¬‡©æ“–°√√¡°“√∑’Ë‡¢â“ª√–™ÿ¡

- §à“μÕ∫·∑πª√–®”ªï ®à“¬„Àâ°√√¡°“√∑ÿ°§π ‚¥¬§≥–°√√¡°“√ √√À“·≈–°”Àπ¥§à“μÕ∫·∑π‰ªæ‘®“√≥“®—¥ √√·≈–‡ πÕ

§≥–°√√¡°“√∫√‘…—∑

∑—Èßπ’È§à“μÕ∫·∑π°√√¡°“√∑—ÈßÀ¡¥√«¡°—πμâÕß‰¡à‡°‘π«ß‡ß‘π§à“μÕ∫·∑π∑’Ë‰¥â√—∫Õπÿ¡—μ‘®“°ºŸâ∂◊ÕÀÿâπ ·≈–∫√‘…—∑‰¥â‡ªî¥‡º¬§à“μÕ∫·∑π

¢Õß°√√¡°“√‡ªìπ√“¬∫ÿ§§≈‰«â„πÀ—«¢âÕ 9.3 §à“μÕ∫·∑πºŸâ∫√‘À“√ „π·∫∫ 56-1

ë §à“μÕ∫·∑πºŸâ∫√‘À“√

§à“μÕ∫·∑πºŸâ∫√‘À“√‡ªìπ‰ªμ“¡À≈—°°“√·≈–π‚¬∫“¬¢Õß∫√‘…—∑‚¥¬æ‘®“√≥“®“°º≈ª√–°Õ∫°“√¢Õß∫√‘…—∑·≈–º≈°“√ªØ‘∫—μ‘ß“π

¢ÕßºŸâ∫√‘À“√·μà≈–§π

À¡«¥∑’Ë 5 ‡√◊ËÕß§«“¡√—∫º‘¥™Õ∫¢Õß§≥–°√√¡°“√ë ‚§√ß √â“ß§≥–°√√¡°“√∫√‘…—∑

§≥–°√√¡°“√∫√‘…—∑ ¡’®”π«π 14 ∑à“π ª√–°Õ∫¥â«¬

°√√¡°“√∫√‘…—∑∑’Ë‡ªìπºŸâ∫√‘À“√ 5 ∑à“π

°√√¡°“√∫√‘…—∑∑’Ë‰¡à‡ªìπºŸâ∫√‘À“√ 4 ∑à“π

°√√¡°“√∫√‘…—∑∑’Ë‰¡à‡ªìπºŸâ∫√‘À“√·≈–‡ªìπ°√√¡°“√Õ‘ √– 5 ∑à“π

∫√‘…—∑¡’°√√¡°“√Õ‘ √– 5 ∑à“π §‘¥‡ªìπ 33.33% ¢Õß°√√¡°“√∑—Èß§≥– ∫√‘…—∑‰¡à¡’§≥–°√√¡°“√ √√À“ ‚¥¬§≥–°√√¡°“√∫√‘…—∑

®–§—¥‡≈◊Õ°°√√¡°“√®“°ºŸâ∑√ß§ÿ≥«ÿ≤‘∑’Ë¡’§«“¡√Ÿâ§«“¡ “¡“√∂®“°À≈“°À≈“¬«‘™“™’æ ¡’«‘ —¬∑—»πå ‡ªìπºŸâ¡’§ÿ≥∏√√¡ ·≈–¡’ª√–«—μ‘

°“√∑”ß“π∑’Ë‰¡à¥à“ßæ√âÕ¬ · ¥ß§«“¡§‘¥‡ÀÁπÕ¬à“ßÕ‘ √– ‚¥¬§≥–°√√¡°“√∫√‘…—∑‰¥â°”Àπ¥Àπâ“∑’Ë§«“¡√—∫º‘¥™Õ∫¢Õß§≥–°√√¡°“√

∑ÿ°™ÿ¥‰«âÕ¬à“ß™—¥‡®π ·≈–¡’°√√¡°“√ºŸâ®—¥°“√ „π∞“π–ΩÉ“¬®—¥°“√ ÷Ëß‰¥â√—∫°“√·μàßμ—Èß®“°§≥–°√√¡°“√∫√‘…—∑„Àâ¡’Àπâ“∑’Ë¥Ÿ·≈°“√

¥”‡π‘π∏ÿ√°‘® ∫√‘À“√°‘®°“√ß“π¢Õß∫√‘…—∑ ·≈–°“√ªØ‘∫—μ‘ß“π¢Õß∫√‘…—∑„Àâ∫√√≈ÿμ“¡«—μ∂ÿª√– ß§å ‡ªÑ“À¡“¬ ·≈– Õ¥§≈âÕß°—∫π‚¬∫“¬

∑’Ë§≥–°√√¡°“√∫√‘…—∑°”Àπ¥

ë «“√–°“√¥”√ßμ”·Àπàß·≈–°“√‰ª¥”√ßμ”·Àπàß°√√¡°“√∑’ËÕ◊Ëπ¢Õß°√√¡°“√

∫√‘…—∑ ‰¡à‰¥â°”Àπ¥®”π«π«“√–°“√¥”√ßμ”·Àπàß À√◊Õ®”π«π∫√‘…—∑∑’Ë°√√¡°“√∫√‘…—∑·μà≈–§π¥”√ßμ”·Àπàß„π∫√‘…—∑Õ◊Ëπ ‡π◊ËÕß®“°

∫√‘…—∑¡’§«“¡‡™◊ËÕ«à“§«“¡ “¡“√∂∑“ß∏ÿ√°‘®·≈–§«“¡‡™’Ë¬«™“≠„π‡√◊ËÕßμà“ßÊ¢Õß°√√¡°“√∫√‘…—∑‰¡à‰¥â¢÷ÈπÕ¬Ÿà°—∫®”π«π«“√–À√◊Õ

®”π«π∫√‘…—∑∑’Ë¥”√ßμ”·Àπàß μ√“∫‡∑à“∑’Ë¬—ß¡’§«“¡ “¡“√∂Õÿ∑‘»‡«≈“„Àâ°—∫∫√‘…—∑‰¥âÕ¬à“ß‡μÁ¡∑’Ë “¡“√∂°”Àπ¥π‚¬∫“¬„Àâ§”ª√÷°…“

„π°“√·°âªí≠À“μà“ßÊ „π°“√¥”‡π‘π∏ÿ√°‘®‰¥âμ“¡«—μ∂ÿª√– ß§å∑’Ë∫√‘…—∑§“¥À«—ß‰«â ·≈–Õ”π“®„π°“√μ—¥ ‘π„®„π°“√‡≈◊Õ°μ—Èß∫ÿ§§≈

‡¢â“¥”√ßμ”·Àπàß°√√¡°“√∫√‘…—∑π—Èπ ‡ªìπ ‘∑∏‘¢ÕßºŸâ∂◊ÕÀÿâπ‚¥¬μ√ß∑’Ë®–§—¥‡≈◊Õ°∫ÿ§§≈‡¢â“∑”Àπâ“∑’Ë·∑πμπ„π°“√°”Àπ¥π‚¬∫“¬

·≈–§«∫§ÿ¡∫√‘…—∑∑’Ëμπ‡ªìπ‡®â“¢Õß


51


Remuneration of directors and executivesë Remuneration of directors

The Board of Directors has appointed the Nomination and Remuneration Committee to screen and considerthe directorsû remuneration as appropriately and transparently to propose to the Board of Director and for approvalon the shareholdersû meeting. Such remuneration shall be in consideration of the responsibilities, experience of thedirectors and comparable to the similar business in order to encourage and maintain qualified directors to stay withthe company in the long term.

On Annual General Shareholdersû Meeting no. 7 was held on April 28, 2009, the shareholders approvedremuneration to the directors in maximum of Baht 10 million per year. The actual total amount paid wasBaht 6,440,000 for as following:- Meeting Allowance which was paid only to the director attending the meeting- Annual remuneration to all directors in which the Nomination and Remuneration Committee will consider for

appropriate allocation and propose to the Board of Directors.

All remunerations and meeting allowance were accumulated as the amount approval from the Annual GeneralShareholderûs Meeting.

ë Executive remunerationThe executive remuneration is in accordance with the companyûs principle and policy based on its results ofoperations and performance of each executive.

Chapter 5: Responsibility of the Board of Directorsë Structure of the Board of Directors

The Board of Directors of the company is comprised of 14 directors:

Director & Executive Committee 5 directorsNon-Management Director 4 directorsNon-Management Director and Independent 5 directors

The company has 5 independent directors, representing 33.33% of the total number of directors. The company hasno nomination committee. The Board of Directors will select directors from experts who have knowledge andcapability from various professions, and who have vision, are ethical, have no misconduct record, and are able toprovide opinion independently. The Board of Directors has clearly stipulated the duties and responsibilities of allcommittees, with the Managing Director, in the capacity of a member of Management, being appointed by the Boardof Directors to oversee business operation and management of the companyûs affairs and its performance toachieve the objectives and goals, in line with the policy set by the Board of Directors.

ë Terms of directors and Number of companies in which a director holds officesThe company does not fix a directorûs term or the number of companies in which a director holds offices. Thecompany believes that the business capability and expertise of a director does not depend on his or her age orthe number of companies in which he or she holds offices but depends on his or her competence in businessmanagement as the companyûs expectation. Moreover, a director appointed by the shareholdersû meeting shallbe shareholdersû representatives to set a company policy to maximum high return to shareholders.

52

∫√‘…—∑‰¥â‡ªî¥‡º¬√“¬≈–‡Õ’¬¥¢âÕ¡Ÿ≈°“√¥”√ßμ”·Àπàß¢Õß°√√¡°“√·μà≈–§π„π∫√‘…—∑Õ◊Ëπ‰«â„π‡Õ° “√·π∫ 1 ¢Õß·∫∫ 56-1 ·≈–

„π√“¬ß“πª√–®”ªï ÷Ëßªí®®ÿ∫—π∫√‘…—∑¡’°√√¡°“√∫√‘…—∑®”π«π 3 §π∑’Ë¥”√ßμ”·Àπàß°√√¡°“√∫√‘…—∑®¥∑–‡∫’¬π¡“°°«à“ 5 ∫√‘…—∑

·μàÕ¬à“ß‰√°Áμ“¡ ∫√‘…—∑¡—Ëπ„®«à“‰¡à¡’º≈°√–∑∫μàÕ°“√ªØ‘∫—μ‘Àπâ“∑’Ë·μàÕ¬à“ß„¥ ‡π◊ËÕß®“°°√√¡°“√‰¥âÕÿ∑‘»‡«≈“„π°“√ªØ‘∫—μ‘Àπâ“∑’Ë

„Àâ°—∫∫√‘…—∑Õ¬à“ß‡μÁ¡∑’Ë ‚¥¬‰¥â‡¢â“√à«¡ª√–™ÿ¡Õ¬à“ß ¡Ë”‡ ¡Õ∑ÿ°§√—Èß ·≈–∑”§ÿ≥ª√–‚¬™πå·°à∫√‘…—∑¡“‚¥¬μ≈Õ¥

ë §ÿ≥ ¡∫—μ‘°√√¡°“√Õ‘ √–

§ÿ≥ ¡∫—μ‘¢Õß°√√¡°“√Õ‘ √–¢Õß∫√‘…—∑ ‡ªìπ‰ªμ“¡¢âÕ°”Àπ¥¢Õß§≥–°√√¡°“√°”°—∫μ≈“¥∑ÿπ ¥—ßμàÕ‰ªπ’È

1. ∂◊ÕÀÿâπ‰¡à‡°‘π√âÕ¬≈– 1 ¢Õß®”π«πÀÿâπ∑’Ë¡’ ‘∑∏‘ÕÕ°‡ ’¬ß∑—ÈßÀ¡¥¢Õß∫√‘…—∑œ ∫√‘…—∑„À≠à ∫√‘…—∑¬àÕ¬ ∫√‘…—∑√à«¡ ºŸâ∂◊ÕÀÿâπ

√“¬„À≠à À√◊Õ ºŸâ¡’Õ”π“®§«∫§ÿ¡¢Õß∫√‘…—∑œ ∑—Èßπ’È „Àâπ—∫√«¡°“√∂◊ÕÀÿâπ¢ÕßºŸâ∑’Ë‡°’Ë¬«¢âÕß¢Õß°√√¡°“√Õ‘ √–√“¬π—ÈπÊ ¥â«¬

2. ‰¡à‡ªìπ À√◊Õ‡§¬‡ªìπ°√√¡°“√∑’Ë¡’ à«π√à«¡∫√‘À“√ß“π ≈Ÿ°®â“ß æπ—°ß“π ∑’Ëª√÷°…“∑’Ë‰¥â‡ß‘π‡¥◊Õπª√–®” À√◊Õ ºŸâ¡’Õ”π“®§«∫§ÿ¡

¢Õß∫√‘…—∑œ ∫√‘…—∑„À≠à ∫√‘…—∑¬àÕ¬ ∫√‘…—∑√à«¡ ∫√‘…—∑¬àÕ¬≈”¥—∫‡¥’¬«°—π ºŸâ∂◊ÕÀÿâπ√“¬„À≠à À√◊Õ ºŸâ¡’Õ”π“®§«∫§ÿ¡¢Õß

∫√‘…—∑œ ‡«âπ·μà®–‰¥âæâπ®“°°“√¡’≈—°…≥–¥—ß°≈à“«¡“·≈â«‰¡àπâÕ¬°«à“ 2 ªï°àÕπ«—π∑’Ë‰¥â√—∫·μàßμ—Èß‡ªìπ°√√¡°“√Õ‘ √– ∑—Èßπ’È

≈—°…≥–μâÕßÀâ“¡¥—ß°≈à“«‰¡à√«¡∂÷ß°√≥’∑’Ë°√√¡°“√Õ‘ √–‡§¬‡ªìπ¢â“√“™°“√ À√◊Õ∑’Ëª√÷°…“¢Õß à«π√“™°“√ ÷Ëß‡ªìπºŸâ∂◊ÕÀÿâπ

√“¬„À≠à À√◊ÕºŸâ¡’Õ”π“®§«∫§ÿ¡¢Õß∫√‘…—∑œ

3. ‰¡à‡ªìπ∫ÿ§§≈∑’Ë¡’§«“¡ —¡æ—π∏å∑“ß “¬‚≈À‘μ À√◊Õ‚¥¬°“√®¥∑–‡∫’¬πμ“¡°ÆÀ¡“¬„π≈—°…≥–∑’Ë‡ªìπ∫‘¥“ ¡“√¥“ §Ÿà ¡√ æ’Ë

πâÕß ·≈–∫ÿμ√√«¡∑—Èß§Ÿà ¡√ ¢Õß∫ÿμ√ ¢ÕßºŸâ∫√‘À“√ ºŸâ∂◊ÕÀÿâπ√“¬„À≠à ºŸâ¡’Õ”π“®§«∫§ÿ¡ À√◊Õ∫ÿ§§≈∑’Ë®–‰¥â√—∫°“√‡ πÕ„Àâ

‡ªìπºŸâ∫√‘À“√ À√◊ÕºŸâ¡’Õ”π“®§«∫§ÿ¡¢Õß∫√‘…—∑œ À√◊Õ∫√‘…—∑¬àÕ¬

4. ‰¡à¡’ À√◊Õ‡§¬¡’§«“¡ —¡æ—π∏å∑“ß∏ÿ√°‘®°—∫∫√‘…—∑œ ∫√‘…—∑„À≠à ∫√‘…—∑¬àÕ¬ ∫√‘…—∑√à«¡ ºŸâ∂◊ÕÀÿâπ√“¬„À≠à À√◊Õ ºŸâ¡’Õ”π“®

§«∫§ÿ¡¢Õß∫√‘…—∑œ „π≈—°…≥–∑’ËÕ“®‡ªìπ°“√¢—¥¢«“ß°“√„™â«‘®“√≥≠“≥Õ¬à“ßÕ‘ √–¢Õßμπ √«¡∑—Èß ‰¡à‡ªìπ À√◊Õ‡§¬‡ªìπºŸâ

∂◊ÕÀÿâπ∑’Ë¡’π—¬ À√◊ÕºŸâ¡’Õ”π“®§«∫§ÿ¡ ¢ÕßºŸâ∑’Ë¡’§«“¡ —¡æ—π∏å∑“ß∏ÿ√°‘®°—∫∫√‘…—∑œ ∫√‘…—∑„À≠à ∫√‘…—∑¬àÕ¬ ∫√‘…—∑√à«¡ ºŸâ∂◊ÕÀÿâπ

√“¬„À≠à À√◊ÕºŸâ¡’Õ”π“®§«∫§ÿ¡¢Õß∫√‘…—∑œ ‡«âπ·μà®–‰¥âæâπ®“°°“√¡’≈—°…≥–¥—ß°≈à“«¡“·≈â«‰¡àπâÕ¬°«à“ 2 ªï°àÕπ«—π∑’Ë‰¥â

√—∫·μàßμ—Èß‡ªìπ°√√¡°“√Õ‘ √–

§«“¡ —¡æ—π∏å∑“ß∏ÿ√°‘®μ“¡«√√§Àπ÷Ëß √«¡∂÷ß°“√∑”√“¬°“√∑“ß°“√§â“∑’Ë°√–∑”‡ªìπª°μ‘‡æ◊ËÕª√–°Õ∫°‘®°“√ °“√‡™à“À√◊Õ„Àâ‡™à“

Õ —ßÀ“√‘¡∑√—æ¬å √“¬°“√‡°’Ë¬«°—∫ ‘π∑√—æ¬åÀ√◊Õ∫√‘°“√ À√◊Õ°“√„Àâ À√◊Õ√—∫§«“¡™à«¬‡À≈◊Õ∑“ß°“√‡ß‘π ¥â«¬°“√√—∫ À√◊Õ„Àâ

°Ÿâ¬◊¡ §È”ª√–°—π °“√„Àâ ‘π∑√—æ¬å‡ªìπÀ≈—°ª√–°—πÀπ’È ‘π √«¡∂÷ßæƒμ‘°“√≥åÕ◊Ëπ∑”πÕß‡¥’¬«°—π ´÷Ëß‡ªìπº≈„Àâ∫√‘…—∑œ À√◊Õ

§Ÿà —≠≠“¡’¿“√–Àπ’È∑’ËμâÕß™”√–μàÕÕ’°ΩÉ“¬Àπ÷Ëß μ—Èß·μà√âÕ¬≈– 3 ¢Õß ‘π∑√—æ¬å∑’Ë¡’μ—«μπ ÿ∑∏‘¢ÕßºŸâ¢ÕÕπÿ≠“μ À√◊Õμ—Èß·μà

20 ≈â“π∫“∑¢÷Èπ‰ª ·≈â«·μà®”π«π„¥®–μË”°«à“ ∑—Èßπ’È °“√§”π«≥¿“√–Àπ’È¥—ß°≈à“«„Àâ‡ªìπ‰ªμ“¡«‘∏’°“√§”π«≥¡Ÿ≈§à“¢Õß√“¬°“√

∑’Ë‡°’Ë¬«‚¬ß°—π μ“¡ª√–°“»§≥–°√√¡°“√°”°—∫μ≈“¥∑ÿπ «à“¥â«¬À≈—°‡°≥±å„π°“√∑”√“¬°“√∑’Ë‡°’Ë¬«‚¬ß°—π ‚¥¬Õπÿ‚≈¡

·μà„π°“√æ‘®“√≥“¿“√–Àπ’È¥—ß°≈à“« „Àâπ—∫√«¡¿“√–Àπ’È∑’Ë‡°‘¥¢÷Èπ„π√–À«à“ß 1 ªï°àÕπ«—π∑’Ë¡’§«“¡ —¡æ—π∏å∑“ß∏ÿ√°‘®°—∫∫ÿ§§≈

‡¥’¬«°—π

5. ‰¡à‡ªìπ À√◊Õ‡§¬‡ªìπºŸâ Õ∫∫—≠™’¢Õß∫√‘…—∑œ ∫√‘…—∑„À≠à ∫√‘…—∑¬àÕ¬ ∫√‘…—∑√à«¡ ºŸâ∂◊ÕÀÿâπ√“¬„À≠à À√◊ÕºŸâ¡’Õ”π“®§«∫§ÿ¡

¢Õß∫√‘…—∑œ ·≈–‰¡à‡ªìπºŸâ∂◊ÕÀÿâπ∑’Ë¡’π—¬ ºŸâ¡’Õ”π“®§«∫§ÿ¡ À√◊ÕÀÿâπ à«π¢Õß ”π—°ß“π Õ∫∫—≠™’´÷Ëß¡’ºŸâ Õ∫∫—≠™’¢Õß∫√‘…—∑œ

∫√‘…—∑„À≠à ∫√‘…—∑¬àÕ¬ ∫√‘…—∑√à«¡ ºŸâ∂◊ÕÀÿâπ√“¬„À≠à À√◊Õ ºŸâ¡’Õ”π“®§«∫§ÿ¡¢Õß∫√‘…—∑œ —ß°—¥Õ¬Ÿà ‡«âπ·μà®–‰¥âæâπ®“°°“√

¡’≈—°…≥–¥—ß°≈à“«¡“·≈â«‰¡àπâÕ¬°«à“ 2 ªï°àÕπ«—π∑’Ë‰¥â√—∫·μàßμ—Èß‡ªìπ°√√¡°“√Õ‘ √–


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Each directorûs details concerning on his term was reported on an attachment 1 on the form 56-1 and the annualreport. The company presently has three directors who hold more than 5 offices. However, the company is trustfullythat these directors devote and duly take his responsibility for the companyûs benefit and consistently attendeda meeting.

ë Qualifications of Independent DirectorsThe company has given the following definitions of an çindependent directoré based on the announcement of theCapital Market Supervisory Board.1. The person must hold no more than 1% of shares with voting rights of the company, the parent company, the

associates, the affiliates, the major shareholders or the entities with the authority to control the company;inclusive of shareholding by individuals related to such independent directors.

2. The person must not be serving, or have served, as a director who is involved with the management, or a staffmember, an employee or a consultant with a monthly wage. The person also must not be or be an individual withthe authority to control the company, the parent company, the associates, the affiliates, the associates of thesame level, the major shareholders or of the entities with the authority to control the company, with theexception of the case where he or she has retired from such a position for at least two years prior to the dayon which he or she is appointed as an independent director. The ineligibility however does not include the casewhere an independent director has previously served as a public servant or a consultant of a governmentagency which is a major shareholder of, or an entity with the authority to control the company.

3. The person must not be related by blood or law as father, mother, spouse, sibling or child, spouse of son ordaughter of executives, major shareholders, individuals with the authority to control the company or candidatesfor the position of an executive or an individual with the authority to control the company or an associate.

4. The person must not have, or have had, a business relationship with the company, the parent company, theassociates, the affiliates, the major shareholders or the entities with the authority to control the company, in sucha manner that may interfere with oneûs independent discretion. The person also must have not been or has beena shareholder, individuals with the authority to control the company, of the person who has business relationshipwith the company, the parent company, the associates, the affiliates, the major shareholder or the entities withthe authority to control the company. There is an exception in the case where he or she has retired from sucha position for at least two years prior to the day on which he or she is appointed as an independent director.

The business relationship as described in the above paragraph is inclusive of normal trading transactions for theconduct of business; lease or letting of immovable; transactions relating to assets or service; provision oracceptance of financial assistance through acceptance or provision of loans and guarantees, the use of assetsas collateral and other such practices which result in the company or the party to the agreement being under theobligation to repay the other party for an amount from 3% of net tangible assets of the company or from twentymillion Baht whichever is lower. The calculation of such obligation to debt is to be in accordance with the relatedtransaction value calculation method as per the Announcement of the Capital Market Supervisory Board on theRelated Transaction Criteria with exceptions. The said obligation to debt includes that which has materializedduring the period of one year prior to the day of business relationship with the same individual.

5. The person must not be, or has been an auditor of the company, the parent company, the associates, theaffiliates, the major shareholders or the entities with the authority to control the company. The person also mustnot be a significant shareholder, an individual with the authority to control or a partner of the audit office withwhich the auditor the company, the parent company, the associates, the affiliates, the major shareholders or theentities with the authority to control the company is associated. There is an exception in such case where he orshe has retired from such a position for at least two years prior to the day on which he or she is appointed asan independent director.

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6. ‰¡à‡ªìπÀ√◊Õ‡§¬‡ªìπºŸâ„Àâ∫√‘°“√∑“ß«‘™“™’æ„¥Ê ´÷Ëß√«¡∂÷ß°“√„Àâ∫√‘°“√‡ªìπ∑’Ëª√÷°…“°ÆÀ¡“¬ À√◊Õ∑’Ëª√÷°…“∑“ß°“√‡ß‘π ´÷Ëß‰¥â√—∫

§à“∫√‘°“√‡°‘π°«à“ 2 ≈â“π∫“∑μàÕªï®“°∫√‘…—∑œ ∫√‘…—∑„À≠à ∫√‘…—∑¬àÕ¬ ∫√‘…—∑√à«¡ ºŸâ∂◊ÕÀÿâπ√“¬„À≠à À√◊ÕºŸâ¡’Õ”π“®§«∫§ÿ¡

¢Õß∫√‘…—∑œ ·≈–‰¡à‡ªìπºŸâ∂◊ÕÀÿâπ∑’Ë¡’π—¬ ºŸâ¡’Õ”π“®§«∫§ÿ¡ À√◊ÕÀÿâπ à«π¢ÕßºŸâ„Àâ∫√‘°“√∑“ß«‘™“™’æπ—Èπ¥â«¬ ‡«âπ·μà®–‰¥âæâπ®“°

°“√¡’≈—°…≥–¥—ß°≈à“«¡“·≈â«‰¡àπâÕ¬°«à“ 2 ªï°àÕπ«—π∑’Ë‰¥â√—∫·μàßμ—Èß‡ªìπ°√√¡°“√Õ‘ √–

7. ‰¡à‡ªìπ°√√¡°“√∑’Ë‰¥â√—∫°“√·μàßμ—Èß¢÷Èπ ‡æ◊ËÕ‡ªìπμ—«·∑π¢Õß°√√¡°“√¢Õß∫√‘…—∑œ ºŸâ∂◊ÕÀÿâπ√“¬„À≠à À√◊ÕºŸâ∂◊ÕÀÿâπ ´÷Ëß‡ªìπºŸâ∑’Ë

‡°’Ë¬«¢âÕß°—∫ºŸâ∂◊ÕÀÿâπ√“¬„À≠à

8. ‰¡àª√–°Õ∫°‘®°“√∑’Ë¡’ ¿“æÕ¬à“ß‡¥’¬«°—π·≈–‡ªìπ°“√·¢àß¢—π∑’Ë¡’π—¬°—∫°‘®°“√¢Õß∫√‘…—∑œ À√◊Õ∫√‘…—∑¬àÕ¬ À√◊Õ‰¡à‡ªìπÀÿâπ à«π

∑’Ë¡’π—¬„πÀâ“ßÀÿâπ à«π À√◊Õ‡ªìπ°√√¡°“√∑’Ë¡’ à«π√à«¡∫√‘À“√ß“π ≈Ÿ°®â“ß æπ—°ß“π ∑’Ëª√÷°…“∑’Ë√—∫‡ß‘π‡¥◊Õπª√–®” À√◊Õ∂◊ÕÀÿâπ

‡°‘π√âÕ¬≈– 1 ¢Õß®”π«πÀÿâπ∑’Ë¡’ ‘∑∏‘ÕÕ°‡ ’¬ß∑—ÈßÀ¡¥¢Õß∫√‘…—∑Õ◊Ëπ ´÷Ëßª√–°Õ∫°‘®°“√∑’Ë¡’ ¿“æÕ¬à“ß‡¥’¬«°—π·≈–‡ªìπ°“√

·¢àß¢—π∑’Ë¡’π—¬°—∫°‘®°“√¢Õß∫√‘…—∑œ À√◊Õ∫√‘…—∑¬àÕ¬

9. ‰¡à¡’≈—°…≥–Õ◊Ëπ„¥∑’Ë∑”„Àâ ‰¡à “¡“√∂„Àâ§«“¡‡ÀÁπÕ¬à“ß‡ªìπÕ‘ √–‡°’Ë¬«°—∫°“√¥”‡π‘πß“π¢Õß∫√‘…—∑œ

∑—Èßπ’È À“°§≥–°√√¡°“√°”°—∫μ≈“¥∑ÿπ ‰¥â¡’ª√–°“»‡ª≈’Ë¬π·ª≈ß§ÿ≥ ¡∫—μ‘°√√¡°“√Õ‘ √– °√√¡°“√Õ‘ √–¢Õß∫√‘…—∑μâÕß¡’

§ÿ≥ ¡∫—μ‘μ“¡∑’Ë‰¥â¡’ª√–°“»‡ª≈’Ë¬π·ª≈ß‰ª∑ÿ°ª√–°“√

¿“¬À≈—ß‰¥â√—∫°“√·μàßμ—Èß„Àâ‡ªìπ°√√¡°“√Õ‘ √–∑’Ë¡’≈—°…≥–‡ªìπ‰ªμ“¡«√√§Àπ÷Ëß ¢âÕ 1 ∂÷ß 9 ·≈â« °√√¡°“√Õ‘ √–Õ“®‰¥â√—∫

¡Õ∫À¡“¬®“°§≥–°√√¡°“√ „Àâμ—¥ ‘π„π°“√¥”‡π‘π°‘®°“√¢Õß∫√‘…—∑œ ∫√‘…—∑„À≠à ∫√‘…—∑¬àÕ¬ ∫√‘…—∑√à«¡ ∫√‘…—∑¬àÕ¬≈”¥—∫

‡¥’¬«°—π ºŸâ∂◊ÕÀÿâπ√“¬„À≠à À√◊Õ ºŸâ¡’Õ”π“®§«∫§ÿ¡¢Õß∫√‘…—∑œ ‚¥¬¡’°“√μ—¥ ‘π„®„π√Ÿª·∫∫¢ÕßÕß§å§≥– (collective

decision) ‰¥â

À≈—°‡°≥±å„π°“√§—¥‡≈◊Õ°°√√¡°“√Õ‘ √–·≈–°√–∫«π°“√ √√À“

§≥–°√√¡°“√∫√‘…—∑æ‘®“√≥“ √√À“§—¥‡≈◊Õ°°√√¡°“√Õ‘ √– μ“¡À≈—°‡°≥±å·≈–§ÿ≥ ¡∫—μ‘¢Õßμ≈“¥À≈—°∑√—æ¬å·Ààß

ª√–‡∑»‰∑¬ ·≈– ”π—°ß“π§≥–°√√¡°“√°”°—∫À≈—°∑√—æ¬å ‡æ◊ËÕ‡ πÕμàÕ∑’Ëª√–™ÿ¡ºŸâ∂◊ÕÀÿâπ

‡≈¢“πÿ°“√∫√‘…—∑

∫√‘…—∑‰¥â·μàßμ—Èß π“ßæ√√≥’ ©—π∑«√≈—°…≥å ÷Ëß‡ªìπºŸâ∑’Ë¡’§ÿ≥«ÿ≤‘·≈–ª√– ∫°“√≥å∑’Ë‡À¡“– ¡ ∑”Àπâ“∑’Ë‡≈¢“πÿ°“√∫√‘…—∑ ‚¥¬¡’

Õ”π“®Àπâ“∑’Ëμ“¡æ√–√“™∫—≠≠—μ‘À≈—°∑√—æ¬å·≈–μ≈“¥À≈—°∑√—æ¬å æ.». 2535 ÷Ëß·°â ‰¢‡æ‘Ë¡‡μ‘¡‚¥¬æ√–√“™∫—≠≠—μ‘À≈—°∑√—æ¬å

·≈–μ≈“¥À≈—°∑√—æ¬å (©∫—∫∑’Ë 4) æ.». 2551 ¥—ßπ’È

1. ®—¥∑”·≈–®—¥‡°Á∫√—°…“‡Õ° “√ ¥—ßμàÕ‰ªπ’È

(°) ∑–‡∫’¬π°√√¡°“√

(¢) Àπ—ß ◊Õπ—¥ª√–™ÿ¡§≥–°√√¡°“√ √“¬ß“π°“√ª√–™ÿ¡§≥–°√√¡°“√ ·≈–√“¬ß“πª√–®”ªï¢Õß∫√‘…—∑

(§) Àπ—ß ◊Õπ—¥ª√–™ÿ¡ºŸâ∂◊ÕÀÿâπ ·≈–√“¬ß“π°“√ª√–™ÿ¡ºŸâ∂◊ÕÀÿâπ

2. ‡°Á∫√—°…“√“¬ß“π°“√¡’ à«π‰¥â‡ ’¬∑’Ë√“¬ß“π‚¥¬°√√¡°“√À√◊ÕºŸâ∫√‘À“√

3. ¥”‡π‘π°“√Õ◊ËπÊ μ“¡∑’Ë§≥–°√√¡°“√°”°—∫μ≈“¥∑ÿπª√–°“»°”Àπ¥

ë ∫∑∫“∑ Àπâ“∑’Ë §«“¡√—∫º‘¥™Õ∫¢Õß§≥–°√√¡°“√∫√‘…—∑

¿“«–ºŸâπ” ·≈–«‘ —¬∑—»πå

§≥–°√√¡°“√∫√‘…—∑ª√–°Õ∫¥â«¬∫ÿ§§≈´÷Ëß¡’§«“¡√Ÿâ §«“¡ “¡“√∂ ·≈–ª√– ∫°“√≥åÀ≈“°À≈“¬ ¡’§«“¡ “¡“√∂‡©æ“–¥â“π∑’Ë‡ªìπ

ª√–‚¬™πå°—∫∫√‘…—∑ ‡¢â“„®∫∑∫“∑Àπâ“∑’Ë §«“¡√—∫º‘¥™Õ∫ ¡’¿“«–ºŸâπ” ¡’°“√°”Àπ¥«‘ —¬∑—»πå¢Õß∫√‘…—∑‰«âÕ¬à“ß™—¥‡®π ¡’§«“¡‡ªìπ

Õ‘ √–„π°“√· ¥ß§«“¡§‘¥‡ÀÁπ·≈–μ—¥ ‘π„® °”°—∫¥Ÿ·≈°‘®°“√¢Õß∫√‘…—∑„Àâ‡ªìπ‰ªμ“¡«—μ∂ÿª√– ß§å·≈–‡ªÑ“À¡“¬∑’Ë‰¥â°”Àπ¥‰«â„Àâ


55


6. The person must not be, or has been, a provider of a professional service including the service as a legalconsultant or a financial consultant for which greater than two million Baht of fee is paid per year by thecompany, the parent company, the associates, the affiliates, the major shareholders or the entities with theauthority to control the company. The person also must not be a significant shareholder or an individual with theauthority to control or a partner of such provider of professional service. There is an exception in such casewhere he or she has retired from such a position for at least two years prior to the day on which he or she isappointed as an independent director.

7. The person must not be a director appointed to represent a director of the company, a major shareholder or ashareholder who is related to a major shareholder.

8. The person must not be in a business of the same nature as, and of significant competition to, that of thecompany or an associate. The person also must not be a significant partner in a partnership; a director who isinvolved with the management ; a staff member; an employee; a consultant with a monthly wage; as well as, ashareholder who holds more than 1% of shares with voting rights of another company which is engaged in abusiness of the same nature as and of significant competition to that of the company or an associate.

9. The person must not have any other characteristic which is an obstacle to the giving of free opinion on theoperation of the company.

In case that the Capital Market Supervisory Board reviews and amend the qualification of the audit director, thecompany shall adjust the qualification of the audit committee in accordance with such changes.

After having been appointed as an independent director following the qualifications specified under items (1)through (9) above, the independent director may be assigned by the Board of Directors to make decisionson the operation of the company, the parent company, the associates, the affiliates, the associates of thesame level, the major shareholders or the entities with the authority to control the company in the manner of acollective decision.

Rules for selecting an independent director and selection processThe Board of Directors selects independent directors in accordance with the rules , whose qualificationsstipulated by the Stock Exchange of Thailand and the Securities and Exchange Commission, and proposes themto the shareholdersû meeting.

The Company SecretaryThe company has appointed Mrs. Pannee Chantavaraluk, a qualified and experienced person to be the companysecretary in order to respond on the following matters on behalf of the Board of Directors in compliance with theSecurities and Exchange Act (No. 4) B.E. 2551 which amended some provision of the Securities and ExchangeAct B.E. 2535:1. Preparing and keeping the following documents:

a) A register of directors;b) A notice calling director meeting, a minute of meeting of the Board of Directors and an annual report

of the company;c) A notice calling shareholder meeting and a minute of shareholdersû meeting;

2. Keeping a report on interest filed by a director or an executive;3. Performing any other acts as specified in the notification of the Capital Market Supervisory Board.

ë Roles, duties and responsibilities of the Board of DirectorsLeadership and visionThe Board of Directors comprises persons who have diversified knowledge, capabilities and experiences andspecific expertise that benefit the company. They understand their roles, duties and responsibilities, and have

56

‡°‘¥ª√–‚¬™πå Ÿß ÿ¥μàÕ∫√‘…—∑ ·≈–ºŸâ∂◊ÕÀÿâπ ¡’°“√∫√‘À“√ß“π‚¥¬°“√°”Àπ¥¿“√°‘® ‡ªÑ“À¡“¬ °≈¬ÿ∑∏å ·ºπªÆ‘∫—μ‘ß“π·≈–ß∫ª√–¡“≥

ª√–®”ªï ‡æ◊ËÕ„Àâ∫√√≈ÿ‡ªÑ“À¡“¬∑’Ë°”Àπ¥‰«â ‚¥¬π”À≈—°∫√√…—∑¿‘∫“≈¡“‡ªìπ‡§√◊ËÕß¡◊Õ„π°“√∫√‘À“√®—¥°“√‡æ◊ËÕ‡æ‘Ë¡¡Ÿ≈§à“„Àâ·°à°‘®°“√

·≈–ºŸâ∂◊ÕÀÿâπ

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1. ∫√√≈ÿπ‘μ‘¿“«–

2. ‰¡à‡ªìπ∫ÿ§§≈≈â¡≈–≈“¬ §π‰√â§«“¡ “¡“√∂ À√◊Õ§π‡ ¡◊Õπ‰√â§«“¡ “¡“√∂

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À√◊Õª≈¥ÕÕ°®“°√“™°“√ À√◊ÕÕß§å°“√À√◊Õ Àπà«¬ß“π¢Õß√—∞ ∞“π∑ÿ®√‘μμàÕÀπâ“∑’Ë

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º≈ª√–°Õ∫°“√¢Õß∫√‘…—∑ ·≈–°“√∂◊Õ§√ÕßÀ≈—°∑√—æ¬å¢Õß°√√¡°“√·≈–ºŸâ∫√‘À“√∑ÿ°§π„π°“√ª√–™ÿ¡§≥–°√√¡°“√∫√‘…—∑

°“√√«¡À√◊Õ·¬°μ”·Àπàß

ª√–∏“π°√√¡°“√∫√‘…—∑¡‘‰¥â‡ªìπºŸâ∫√‘À“√·≈–‰¡à‡ªìπ∫ÿ§§≈‡¥’¬«°—∫ª√–∏“π°√√¡°“√∫√‘À“√ ‡æ◊ËÕ‡ªìπ°“√·∫àß·¬°Àπâ“∑’Ë„π°“√

∫√‘À“√ß“π ¡’§«“¡Õ‘ √–®“°°—π ·≈–∂à«ß¥ÿ≈ ÷Ëß°—π·≈–°—π ‚¥¬ª√–∏“π°√√¡°“√∫√‘…—∑‰¥â· ¥ß∫∑∫“∑¢ÕßºŸâπ” ·≈–‡ªìπºŸâ§«∫§ÿ¡

°“√ª√–™ÿ¡§≥–°√√¡°“√∫√‘…—∑„Àâ¡’ª√– ‘∑∏‘¿“æ·≈–ª√– ‘∑∏‘º≈ π—∫ πÿπ„Àâ°√√¡°“√·≈–ºŸâ∫√‘À“√∑ÿ°§π¡’ à«π√à«¡„π°“√ª√–™ÿ¡

™à«¬‡À≈◊Õ ·π–π” ¥Ÿ·≈ °“√¥”‡π‘π∏ÿ√°‘®¢ÕßΩÉ“¬®—¥°“√ ·μà®–‰¡à‡¢â“‰ª°â“«°à“¬ß“πÀ√◊Õ∏ÿ√°‘®ª√–®”¢ÕßΩÉ“¬®—¥°“√ πÕ°®“°π’È

¬—ß°”Àπ¥¢Õ∫‡¢μÕ”π“®Àπâ“∑’Ë¢Õß§≥–°√√¡°“√·μà≈–§≥–·≈–¢ÕßΩÉ“¬®—¥°“√‰«âÕ¬à“ß™—¥‡®π “¡“√∂μ√«® Õ∫‰¥â ‡æ◊ËÕ§«“¡

‚ª√àß„ „π°“√∫√‘À“√®—¥°“√

√–∫∫°“√§«∫§ÿ¡μ√«® Õ∫¿“¬„π·≈–∫√‘À“√§«“¡‡ ’Ë¬ß

§≥–°√√¡°“√∫√‘…—∑„Àâ§«“¡ ”§—≠μàÕ√–∫∫§«∫§ÿ¡¿“¬„π¥â“π°“√¥”‡π‘πß“π °“√‡ß‘π °“√ªØ‘∫—μ‘ß“π ·≈–°“√°”°—∫¥Ÿ·≈ ‚¥¬¡’

Àπà«¬ß“πμ√«® Õ∫¿“¬„π∑”Àπâ“∑’Ëμ√«® Õ∫°“√ªØ‘∫—μ‘ß“π¢Õß√–∫∫¥—ß°≈à“« √«¡∂÷ß√–∫∫ß“π§Õ¡æ‘«‡μÕ√åμ≈Õ¥®π„Àâ§”·π–π”

‡æ◊ËÕ„Àâ‡°‘¥§«“¡¡—Ëπ„®«à“‰¥â¥”‡π‘π°“√ μ“¡·π«∑“ß∑’Ë°”Àπ¥Õ¬à“ß¡’ª√– ‘∑∏‘º≈ ¡’§«“¡‡ªìπÕ‘ √– “¡“√∂∑”Àπâ“∑’Ëμ√«® Õ∫·≈–

∂à«ß¥ÿ≈‰¥âÕ¬à“ß‡μÁ¡∑’Ë

∫√‘…—∑‰¥â«à“®â“ß∫√‘…—∑ Õ∫∫—≠™’∏√√¡π‘μ‘ ®”°—¥ ‡æ◊ËÕμ√«® Õ∫¿“¬„π ‚¥¬ª√– “πß“π°—∫ºŸâ√—∫º‘¥™Õ∫ß“πμ√«® Õ∫¿“¬„π¢Õß

∫√‘…—∑ ‡æ◊ËÕ‡æ‘Ë¡ª√– ‘∑∏‘º≈„πß“πμ√«® Õ∫„Àâ¥’¬‘Ëß¢÷Èπ ‚¥¬‰¥âπ”º≈°“√μ√«® Õ∫‰ªª√÷°…“√à«¡°—∫ºŸâ∫√‘À“√¢ÕßÀπà«¬ß“πºŸâ√—∫

°“√μ√«® Õ∫·≈–°√√¡°“√ºŸâ®—¥°“√ ‡æ◊ËÕ·≈°‡ª≈’Ë¬π§«“¡§‘¥‡ÀÁπ‡°’Ë¬«°—∫¢âÕ‡∑Á®®√‘ß·≈–ªí≠À“∑’Ëμ√«®æ∫ æ√âÕ¡∑—Èß¡“μ√°“√„π

°“√ªÑÕß°—π·≈–°“√·°â ‰¢ª√—∫ª√ÿß °àÕπ√“¬ß“π‡ªìπ∫—π∑÷°μàÕ§≥–°√√¡°“√μ√«® Õ∫ ·≈–ª√–™ÿ¡·≈°‡ª≈’Ë¬π¢âÕ§‘¥‡ÀÁπ‡°’Ë¬«°—∫

·π«§‘¥„π°“√μ√«® Õ∫·≈–º≈¢Õß°“√μ√«® Õ∫°—∫§≥–°√√¡°“√μ√«® Õ∫Õ¬à“ß ¡Ë”‡ ¡Õ

§≥–°√√¡°“√μ√«® Õ∫‰¥âæ‘®“√≥“«à“ Àπà«¬ß“πμà“ßÊ ¢Õß∫√‘…—∑¡’°“√«‘‡§√“–Àå§«“¡‡ ’Ë¬ßÕ¬Ÿà·≈â« ·μà§«√¡’°“√ª√– “πß“π

∫√‘À“√§«“¡‡ ’Ë¬ß¢ÕßÀπà«¬ß“πμà“ßÊ Õ¬à“ß‡ªìπ√–∫∫·≈–μàÕ‡π◊ËÕß ΩÉ“¬®—¥°“√®÷ß‰¥â«à“®â“ß∫√‘…—∑ ‰æ√â «Õ‡μÕ√å‡Œ“ å§Ÿ‡ªÕ√å ®”°—¥

ª√–‡¡‘π·≈–π”‡ πÕ‚§√ß √â“ß√–∫∫°“√∫√‘À“√§«“¡‡ ’Ë¬ß¢ÕßÕß§å°√ ºà“π°“√‡ÀÁπ™Õ∫¢Õß§≥–°√√¡°“√‡¡◊ËÕ«—π∑’Ë 4 æƒ»®‘°“¬π

2551 ·≈–¡’°“√®—¥μ—ÈßÕπÿ°√√¡°“√∫√‘À“√®—¥°“√§«“¡‡ ’Ë¬ß‚¥¬§≥–°√√¡°“√∫√‘À“√‡æ◊ËÕπ”√–∫∫‡¢â“„™âß“π‡¡◊ËÕ«—π∑’Ë 20 ¡°√“§¡

2552 ∑—Èßπ’È ®–¡’§≥–°√√¡°“√μ√«® Õ∫∑”Àπâ“∑’Ëª√–‡¡‘π§«“¡‡æ’¬ßæÕ‚¥¬√«¡Õ’°¢—ÈπÀπ÷Ëß

§≥–°√√¡°“√∫√‘…—∑¡’°“√∫√‘À“√§«“¡‡ ’Ë¬ßμ“¡≈—°…≥– §«“¡‡À¡“– ¡ ·≈–ª√–‡¿∑§«“¡‡ ’Ë¬ß‚¥¬ª√–‡¡‘π®“°ªí®®—¬¿“¬„π

·≈–¿“¬πÕ° ‡æ◊ËÕÀ“¡“μ√°“√ªÑÕß°—π æ—≤π“ ª√—∫ª√ÿß ·≈–¢¬“¬º≈¢Õß°“√æ‘®“√≥“§«“¡‡ ’Ë¬ß μ≈Õ¥®π°“√∫√‘À“√§«“¡‡ ’Ë¬ß

„Àâ§√Õ∫§≈ÿ¡∑—Ë«∑—ÈßÕß§å°√ „ÀâÕ¬Ÿà„π√–¥—∫∑’ËÕß§å°√¬Õ¡√—∫‰¥â ·≈–‰¡à àßº≈°√–∑∫μàÕ°“√¥”‡π‘πß“π¢Õß∫√‘…—∑‡ªìπ ”§—≠


57


leadership. They set the clear vision of the company. They are independent in providing opinion and making decision.They supervise the businesses of the company in accordance with its objectives and goals to generate the maximumbenefit to the company and its shareholders. They manage the company by setting tasks, goals, strategies, actionplans and annual budget to achieve goals, using good governance practice to increase value for the company andits shareholders.

The company requires that the Board of Directors must comprise at least 5 persons (pursuant to the Public LimitedCompanies Act). A director must be a natural person and1. being of legal age;2. not being a bankrupt, incompetent or quasi-incompetent; and3. having never been imprisoned by a final court judgment for an offense involving property committed in bad

faith, and having never been terminated or dismissed from government service, state organization or agencydue to dishonesty.

The Board of Directors monitors the performance of Management by requiring Management to report the progressand results of operations of the company and securities holding by all directors and executives at the Boardof Directors meetings.

Combination or separation of positionsThe Chairman of the Board is a director who is independent and is not a member of Management and not thesame person as the Chairman of the Executive Board, in order to separate duties, for the sake of independenceand balance. The Chairman of the Board plays the role of leader and controls the Board of Directors meeting toensure efficiency and effectiveness. The Chairman of the Board also encourages all directors and executives toparticipate in the meeting, assists, provides advice, supervises the business operation by Management, but does notinterfere with the regular tasks or business of Management. In addition, the powers and duties of each committee andof Management are clearly defined so that they can be examined for the sake of transparency.

Internal control and risk managementThe Board of Directors places importance on internal control with respect to operation, finance, function andsupervision, with an internal audit department examining the performance of the said control including computersystem and providing advice to ensure that the stipulated guideline has been implemented effectively. It is alsoindependent and can fully conduct examination and balancing.

The company has hired Dharmniti Auditing Co., Ltd. to conduct internal audit in cooperation with those responsible forinternal audit of the company in order to increase the effectiveness of the audit. The results of the audit will bediscussed with the executives of the department audited and the Managing Director to clarify facts and problemsfound as well as measures for prevention and improvement, before such audit was reported in writing to the AuditCommittee. The company regular held a meeting with the Audit Committee in order to access the results of audit andits development.

The Audit Committee considers that the companyûs various departments have already analyzed their risks. However,it should be systematically and continuously assess risk management for each department. It was therefore proposedto the Board of Directors to have Pricewaterhouse Coopers FAS Ltd. evaluate and improve the risk managementsystem which was agreed and approved on November 4, 2008 and the risk management system was implemented onJanuary 20, 2009 by repeatedly evaluated by the Audit Committee.

The Board of Directors manages risks according to the nature, suitability and type of risks, by evaluating internaland external factors to find measures of prevention, development, improvement and extension of results of riskconsideration and risk management to cover the entire organization so that the risks are at the level acceptable tothe organization and not to impact the operation of the company.

58

ë °“√ª√–™ÿ¡§≥–°√√¡°“√

§≥–°√√¡°“√∫√‘…—∑„Àâ§«“¡ ”§—≠°—∫°“√‡¢â“√à«¡ª√–™ÿ¡·≈–∂◊Õ‡ªìπÀπâ“∑’Ë ‡æ◊ËÕ√—∫∑√“∫·≈–√à«¡μ—¥ ‘π„®„π°“√¥”‡π‘πß“π¢Õß

∫√‘…—∑ ‰¥â°”Àπ¥°“√ª√–™ÿ¡‰«â≈à«ßÀπâ“μ≈Õ¥∑—Èßªï ‚¥¬®—¥¢÷Èπ∑ÿ°‰μ√¡“ ‡≈¢“πÿ°“√∫√‘…—∑®– àß®¥À¡“¬‡™‘≠ª√–™ÿ¡ æ√âÕ¡∑—Èß

√–‡∫’¬∫«“√–°“√ª√–™ÿ¡ √“¬ß“π°“√ª√–™ÿ¡§√—Èß°àÕπ ·≈–‡Õ° “√ª√–°Õ∫°“√ª√–™ÿ¡„Àâ§≥–°√√¡°“√∫√‘…—∑∑√“∫‡√◊ËÕß ‡æ◊ËÕæ‘®“√≥“

≈à«ßÀπâ“μ“¡√–¬–‡«≈“∑’Ë°ÆÀ¡“¬°”Àπ¥ „π°“√æ‘®“√≥“‡√◊ËÕßμà“ßÊ ª√–∏“π°√√¡°“√∫√‘…—∑´÷Ëß∑”Àπâ“∑’Ëª√–∏“π∑’Ëª√–™ÿ¡‰¥â‡ªî¥

‚Õ°“ „Àâ°√√¡°“√·≈–ºŸâ∫√‘À“√· ¥ß§«“¡§‘¥‡ÀÁπ‰¥âÕ¬à“ßÕ‘ √– „π°“√ª√–™ÿ¡§≥–°√√¡°“√∫√‘…—∑∑ÿ°§√—Èß ºŸâ∫√‘À“√√–¥—∫ Ÿß¢Õß

∫√‘…—∑‰¥â‡¢â“√à«¡ª√–™ÿ¡ ‡æ◊ËÕ™’È·®ß¢âÕ¡Ÿ≈„π∞“π–ºŸâ‡°’Ë¬«¢âÕß°—∫ªí≠À“‚¥¬μ√ß ·≈–§≥–°√√¡°“√∫√‘…—∑∑ÿ°∑à“π “¡“√∂¢Õ¢âÕ¡Ÿ≈

‡æ‘Ë¡‡μ‘¡®“°ºŸâ∫√‘À“√√–¥—∫ Ÿß ·≈–‡≈¢“πÿ°“√∫√‘…—∑‰¥â∑ÿ°‡√◊ËÕß

‡¡◊ËÕ ‘Èπ ÿ¥°“√ª√–™ÿ¡ ‡≈¢“πÿ°“√∫√‘…—∑‡ªìπºŸâ¡’Àπâ“∑’Ë®—¥∑”√“¬ß“π°“√ª√–™ÿ¡ ºà“π°“√ Õ∫∑“π®“°§≥–°√√¡°“√∫√‘À“√

·≈–®—¥ àß„Àâª√–∏“π°√√¡°“√∫√‘…—∑æ‘®“√≥“≈ß≈“¬¡◊Õ™◊ËÕ√—∫√Õß§«“¡∂Ÿ°μâÕß ‚¥¬‡ πÕ„Àâ∑’Ëª√–™ÿ¡√—∫√Õß„π«“√–·√°¢Õß°“√

ª√–™ÿ¡§√—Èß∂—¥‰ª ∑—Èßπ’È °√√¡°“√∫√‘…—∑ “¡“√∂· ¥ß§«“¡§‘¥‡ÀÁπ ¢Õ·°â ‰¢ ‡æ‘Ë¡‡μ‘¡√“¬ß“π°“√ª√–™ÿ¡„Àâ¡’§«“¡≈–‡Õ’¬¥∂Ÿ°μâÕß

¡“°∑’Ë ÿ¥‰¥â

√“¬ß“π°“√ª√–™ÿ¡∑’Ë∑’Ëª√–™ÿ¡√—∫√Õß·≈â«®–∂Ÿ°®—¥‡°Á∫Õ¬à“ß‡ªìπ√–∫∫ ≥ ”π—°ß“π∫√‘…—∑ ·≈–®—¥‡°Á∫„π√Ÿª·∫∫‡Õ° “√Õ‘‡≈Á°∑√Õπ‘° å

æ√âÕ¡°—∫‡Õ° “√·π∫ª√–°Õ∫«“√–°“√ª√–™ÿ¡μà“ßÊ ‡æ◊ËÕ –¥«°„π°“√ ◊∫§âπÕâ“ßÕ‘ß

„πªï 2552 §≥–°√√¡°“√∫√‘…—∑¡’°“√ª√–™ÿ¡®”π«π 4 §√—Èß °“√‡¢â“√à«¡ª√–™ÿ¡¢Õß§≥–°√√¡°“√∫√‘…—∑·μà≈–∑à“π √ÿª‰¥â¥—ßπ’È

√“¬™◊ËÕ°“√‡¢â“√à«¡ª√–™ÿ¡

“¡—≠ºŸâ∂◊ÕÀÿâπ §≥–°√√¡°“√∫√‘…—∑ §≥–°√√¡°“√μ√«® Õ∫ §≥–°√√¡°“√∫√‘À“√

1 π“¬∫ÿ≠‡°’¬√μ‘ ‚™§«—≤π“ 1/1 4/4 - -

2 π“¬∫ÿ≥¬ ‘∑∏‘Ï ‚™§«—≤π“ 1/1 4/4 - -

3 π“¬ —πμ‘ «‘≈“ »—°¥“ππ∑å 1/1 2/4 - -

4 π“¬∫ÿ≠ƒ∑∏‘Ï ¡À“¡πμ√’ 1/1 4/4 - -

5 π“¬∏’√–»—°¥‘Ï «‘°‘μ‡»√…∞å 1/1 3/4 - 5/5

6 π“¬∑πß »√’®‘μ√å 1/1 4/4 - 4/5

7 π“¬Õ—μ∂°√ °≈—Ëπ§«“¡¥’ 1/1 4/4 - 5/5

8 π“¬«‘‚√®πå ∏’√«—≤πå«“∑’ 1/1 4/4 - 5/5

9 π“¬ ÿ®√‘μ ªí®©‘¡π—π∑å 1/1 4/4 - 5/5

10 π“¬πææ√ æß…å‡«™ 1/1 4/4 4/4 -

11 æ≈μ”√«®‡Õ° ¡™“¬ ª√–¿— ¿—°¥’ 1/1 4/4 4/4 -

12 π“¬Õ¡√ Õ—»«“π—π∑å 1/1 3/4 4/4 -

13 π“¬ ÿ√ß§å Õß§å‚¶…‘μ 1/1 4/4 4/4 -

14 π“¬π‘«—μ√ æ—≤π‡ ¡“°ÿ≈ 1/1 *2/4 *2/4 -

À¡“¬‡Àμÿ *1 ¥”√ßμ”·Àπàßª√–∏“π°√√¡°“√∫√‘À“√ ∂÷ß«—π∑’Ë 28 ¡’π“§¡ 2551

*2 ‰¥â√—∫°“√‡≈◊Õ°μ—Èß‡ªìπ°√√¡°“√ ‡¡◊ËÕ«—π∑’Ë 28 ¡’π“§¡ 2551 ·≈–‡¢â“¥”√ßμ”·Àπàß°√√¡°“√∫√‘À“√ ‡¡◊ËÕ«—π∑’Ë 6 æƒ…¿“§¡ 2551


59


ë Board of Directors meeting

The Board of Directors places importance on attending the meeting and it is the duty of directors to do so in

order to acknowledge and make decision on the companyûs operation. Meetings are scheduled in advance

throughout the year and are to be held every quarter. The company secretary will send notice together with

agenda, minutes of the previous meeting and supporting documents for the meeting to the directors for their

consideration in advance within the period required by law. In considering matters, the Chairman of the Board,

who acts as chairman of the meeting, will provide an opportunity to directors and executives to independently

give opinion. At every Board of Directors meeting, high-ranking executives of the company will attend it to provide

explanation as a person directly involved with the problem. All directors can request additional information on any

matter from high-ranking executives and the company secretary.

Upon completion of the meeting, the company secretary will prepare the minutes of the meeting, which will bereviewed by the Executive Board and sent to the Chairman of the Board for signing to confirm their accuracy. Theminutes will be proposed, for approval, as the first agenda item of the next Board meeting. The directors can commenton or request revisions to the minutes so that they are accurate as much as possible.

Minutes approved will be properly kept at the office of the company and also kept in electronic form together withsupporting documents of various agenda items for convenience of reference.

In 2009, the Board of Directors held 4 meetings. Attending the meetings by each director may be summarized asfollows:

MeetingName Annual General The Board of The Audit The Executive of

Meeting Shareholders Directorsû meeting Committeeûs meeting Committeeûs meeting

1 Mr. Boonkiet Chokwatana 1/1 4/4 - -

2 Mr. Boonsithi Chokwatana 1/1 4/4 - -

3 Mr. Santi Vilassakdanont 1/1 2/4 - -

4 Mr. Boonyarith Mahamontri 1/1 4/4 - -

5 Mr. Thirasak Vikitset 1/1 3/4 - 5/5

6 Mr. Tanong Srichit 1/1 4/4 - 4/5

7 Mr. Atthakorn Glankwamdee 1/1 4/4 - 5/5

8 Mr. Viroj Theeravatvatee 1/1 4/4 - 5/5

9 Mr. Sujarit Patchimnun 1/1 4/4 - 5/5

10 Mr. Nophorn Bhongsvej 1/1 4/4 4/4 -

11 Pol. Gen. Somchai 1/1 4/4 4/4 -

Prabhasabhakdi

12 Mr. Amorn Asvanunt 1/1 3/4 4/4 -

13 Mr. Surong Ongkosit 1/1 4/4 4/4 -

14 Mr.Niwat Patanasemakul 1/1 *2/4 *2/4 -

Remarks *1 To be the Chairman of the Executive Committee till March, 28 2008

*2 To be elected as the Director on March 28, 2008 and apointed to be the Executive Director on May 6, 2008

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ë °“√ª√–‡¡‘πμπ‡Õß¢Õß§≥–°√√¡°“√∫√‘…—∑

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·≈–°”Àπ¥§à“μÕ∫·∑π‚¥¬¡’¢Õ∫‡¢μÕ”π“®Àπâ“∑’Ë·≈–§«“¡√—∫º‘¥™Õ∫¢Õß§≥–°√√¡°“√·μà≈–™ÿ¥‡ªìπÕ‘ √–°—π ‡æ◊ËÕ™à«¬„π°“√

°”°—∫¥Ÿ·≈°‘®°“√¢Õß∫√‘…—∑

ë °“√æ—≤π“°√√¡°“√·≈–ºŸâ∫√‘À“√

∫√‘…—∑ àß‡ √‘¡„Àâ°√√¡°“√·≈–ºŸâ∫√‘À“√∑ÿ°§π¡’‚Õ°“ æ—≤π“§«“¡√Ÿâ ‚¥¬§≥–°√√¡°“√∫√‘…—∑„Àâ§«“¡ ”§—≠μàÕ°“√‡¢â“√à«¡ —¡¡π“

À≈—° Ÿμ√∑’Ë‡ªìπª√–‚¬™πåμàÕ°“√ªØ‘∫—μ‘Àπâ“∑’Ë°√√¡°“√ ‚¥¬‡¢â“√à«¡Õ∫√¡À≈—° Ÿμ√ Director Accreditation Program (DAP),

Director Certification Program (DCP), Audit Committee Program (ACP), ·≈– Finance for Non-Finance Director

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Õ’°μàÕ‰ª„πÕπ“§μ

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ë Self-Assessment of the Board of DirectorsThe Board of Directors has policy to assess the overall performance of the Board of Directors at least once a year.In the year 2009, the Board of Directors conducted individual self-assessment on the criteria consisting of Boardpolicy, composition, practices and meeting, transparency in job performance and information disclosure, businessethics. The overall average results for this evaluation corresponded to the level of good performance.

ë CommitteesIn order to assure the shareholders that the operation of the company is transparent, and is screened, reviewed,with careful consultation, the Board of Directors has appointed committees to perform such duties and report to theBoard of Directors. The present committees comprise the Executive Board, the Audit Committee, and the Nominationand Remuneration Committee. The powers, duties and responsibilities of each committee are independent of eachother for the benefit of supervision of the companyûs business.

ë Training of directors and executivesThe company encourages all directors and executives to improve their knowledge. The Board of Directorsplaces importance on attending courses beneficial to performance as directors, and the directors haveundergone Director Accreditation Program (DAP), Director Certification Program (DCP), Audit CommitteeProgram (ACP), and Finance for Non-Finance Director (FND) courses organized by the Institute of Directors (IOD)and short-course seminars that benefit the performance of the directors, including courses to be organized inthe future by the IOD.

The company also prepares a directorûs manual for a new director to study significant information about thecompany, good governance policy, business ethics, code of conduct and rules and regulations of the StockExchange of Thailand and Securities and Exchange Commission. The company requires the new director toundergo courses helpful to performance as a director organized by the Institute of Directors (IOD). In addition,the directors also regularly meet and exchange ideas with directors and high-ranking executives of other localand foreign organizations.

ë Employee development policyIt is the policy of the company to develop employees at all levels so that they have knowledge, capability andexperience that meet the needs of the company and can develop themselves and work to the success of theorganization efficiently and steadily. The training and development policy therefore focuses on the link andconsistency between the position and function. In particular, the training must be able to be evaluated and thedevelopment should be obvious.

After training and seminar in any course, there must be evaluation after the training. After evaluation, if it does not passthe criteria, additional training will be provided.

ë Internal auditThe Board of Directors places importance on internal control at both managerial and operating levels. DharmnitiAuditing Co., Ltd. is hired to conduct audit with respect to operation, finance, functioning, computer system, utilizationof the companyûs assets and to provide advice to ensure that the stipulated guideline is observed effectivelyand that the internal audit is independent and can fully conduct examination and balancing. The audit results will

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§≥–°√√¡°“√μ√«® Õ∫∑√“∫‡ªìπ√–¬–Ê Õ¬à“ß ¡Ë”‡ ¡Õ ¥—ßπ—Èπ π—°≈ß∑ÿπ®÷ß “¡“√∂‡™◊ËÕ¡—Ëπ‰¥â«à“ ∫√‘…—∑¡’°“√§«∫§ÿ¡¿“¬„π

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°“√¥”‡π‘π∏ÿ√°‘®∑’Ë™—¥‡®π·≈–«—¥º≈‰¥â ¡’°“√®—¥«“ß√–∫∫ªÑÕß°—π°“√„™âÕ”π“®Àπâ“∑’Ë‰ª„π∑“ß¡‘™Õ∫ √«¡μ≈Õ¥∂÷ß¢âÕ°”Àπ¥

‡°’Ë¬«°—∫®√‘¬∏√√¡∏ÿ√°‘® ®√√¬“∫√√≥æπ—°ß“π „Àâ·°à§≥–°√√¡°“√∫√‘…—∑ ΩÉ“¬∫√‘À“√·≈–æπ—°ß“π‰«âæ÷ßªØ‘∫—μ‘ ∑—Èß„π°√Õ∫

¢Õß∫√‘…—∑ ·≈–∫√‘…—∑¬àÕ¬ ‡™◊ËÕ‰¥â«à“ “¡“√∂ªÑÕß°—π°“√π”∑√—æ¬å ‘π¢Õß∫√‘…—∑‰ª„™â‚¥¬¡‘™Õ∫‰¥â


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be reported directly to the Audit Committee periodically. Therefore investors can be confident that the companyhas adequate internal control that can prevent and preserve its assets from damage that may arise from improperor unauthorized use and disposal.

ë Reports of the Board of DirectorsThe Board of Directors is responsible for the consolidated financial statements of the company and itssubsidiaries, financial information of the company set forth in the annual report and Form 56-1. Those financialstatements are prepared in accordance with the generally accepted accounting standard in Thailand. Appropriateaccounting policy is adopted and consistently applied. Careful discretion and the best estimates are used inpreparing financial statements. Adequate significant information has been disclosed in the notes to the financialstatements.

The Board of Directors has appointed the Audit Committee, comprising directors who are not members ofManagement, to be responsible for the internal audit, so as to reasonably ensure that accounting entries areaccurate, complete and adequate to maintain the companyûs assets and to find weaknesses, in order to preventsignificant irregularities. The opinion of the Audit Committee in this respect is described in the report of the AuditCommittee presented in the annual report.

The Board is of the opinion that the overall internal control of the company is satisfactory and can reasonably createconfidence in the reliability of the consolidated financial statements of the company and its subsidiaries.

ë Relationship with investorsThe Board of Directors places importance on reporting and disclosure of the companyûs information on financeand general matters as well as significant information affecting the price of the companyûs securities, to ensuresuch informationûs accuracy, completeness, reliability and transparency. The information is publicized throughthe reporting channel of the Stock Exchange of Thailand and the companyûs website at www.sahacogen.com.

The company has not yet established an investor relation department, but has designated the Managing Directorto provide information as required by investors and those concerned by contacting Mr. Viroj Theeravatvatee,Managing Director, tel. 038 481555 or fax 038 481551 or email [email protected].

ë Internal controlAt the Board of Directors Meeting No. 1/2009, held on February 26, 2009, at which the Audit Committee werealso present, the Board of Directors evaluated the adequacy of the companyûs internal control in 2008 as evaluatedby the companyûs internal auditor, Dharmniti Auditing Co., Ltd. Dharmniti Auditing Co., Ltd. considered that thecompany has good internal control, adequate risk management to ensure that the company will achieve its goals.It was therefore concluded by the Board that the company has adequate internal control that is appropriate topresent circumstances.1. Organization and environment

The company has set up clear structure of powers and duties of the Board of Directors, Management andemployees. The business objectives and targets were defined and measurable. Systems are established toprevent abuse of powers and duties. There are requirements on business ethics, code of conduct for complianceby the Board of Directors, Management and employees within the company and its subsidiaries. It is thereforebelievable that this can prevent abusive or unauthorized utilization of the companyûs assets.

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2. ¥â“π°“√∫√‘À“√§«“¡‡ ’Ë¬ß

∫√‘…—∑¡’°“√∫√‘À“√®—¥°“√§«“¡‡ ’Ë¬ßμ“¡≈—°…≥–·≈–ª√–‡¿∑¢Õß§«“¡‡ ’Ë¬ß‚¥¬ª√–‡¡‘π®“°ªí®®—¬¿“¬„π ¿“¬πÕ° ‡æ◊ËÕ°”Àπ¥

¡“μ√°“√ªÑÕß°—π·≈–∫√‘À“√§«“¡‡ ’Ë¬ß„ÀâÕ¬Ÿà„π√–¥—∫∑’ËÕß§å°√¬Õ¡√—∫‰¥â ·≈–‰¡à àßº≈°√–∑∫μàÕ°“√¥”‡π‘πß“π¢Õß∫√‘…—∑

‡ªìπ ”§—≠ ‚¥¬¡’°“√ ◊ËÕ “√„ÀâºŸâ‡°’Ë¬«¢âÕß√—∫∑√“∫ ªØ‘∫—μ‘μ“¡·≈–¡’°“√μ‘¥μ“¡º≈Õ¬Ÿà‡ ¡Õ

3. ¥â“π°“√§«∫§ÿ¡°“√ªØ‘∫—μ‘ß“π¢ÕßΩÉ“¬∫√‘À“√

∫√‘…—∑¡’°“√°”Àπ¥√–¥—∫Õ”π“®°“√Õπÿ¡—μ‘·≈–·∫àß·¬°Àπà«¬ß“π„π≈—°…≥– àß‡ √‘¡°“√ª√– “πß“π·≈–∂à«ß¥ÿ≈°“√„™âÕ”π“®

¡’°“√°”Àπ¥¢Õ∫‡¢μÕ”π“®·≈–«ß‡ß‘πÕπÿ¡—μ‘¢ÕßΩÉ“¬∫√‘À“√·μà≈–√–¥—∫‰«â‡ªìπ≈“¬≈—°…≥åÕ—°…√ æ√âÕ¡∑—Èß·∫àß·¬°Àπâ“∑’Ë

·≈–§«“¡√—∫º‘¥™Õ∫‰«â ¡’°“√°”Àπ¥«‘∏’°“√‡¢â“∑”∏ÿ√°√√¡∑’Ë‡°’Ë¬«‚¬ß°—πμ“¡ª√–°“»¢Õß§≥–°√√¡°“√μ≈“¥À≈—°∑√—æ¬å

·Ààßª√–‡∑»‰∑¬°—∫∫ÿ§§≈∑’Ë‡°’Ë¬«‚¬ß°—π‰«âÕ¬à“ß™—¥‡®π §≥–°√√¡°“√∫√‘…—∑‰¥â√—∫√“¬ß“π·≈–∑”°“√μ√«® Õ∫∑∫∑«πº≈°“√

ªØ‘∫—μ‘ß“π¢ÕßΩÉ“¬∫√‘À“√‡ªìπª√–®” ¡Ë”‡ ¡Õ

4. ¥â“π√–∫∫ “√ π‡∑»·≈–°“√ ◊ËÕ “√¢âÕ¡Ÿ≈

∫√‘…—∑®—¥„Àâ¡’°“√ ◊ËÕ “√∑—Èß¿“¬„π·≈–¿“¬πÕ°Õß§å°√Õ¬à“ß¡’ª√– ‘∑∏‘¿“æ ¡’°“√®—¥‡°Á∫‡Õ° “√ª√–°Õ∫°“√∫—π∑÷°∫—≠™’‰«â

§√∫∂â«π‡ªìπÀ¡«¥À¡Ÿà ·≈–„™âπ‚¬∫“¬∫—≠™’μ“¡À≈—°°“√∫—≠™’√—∫√Õß∑—Ë«‰ª ¡’°“√π” Application Software ¡“„™â‡æ◊ËÕ

‡ √‘¡ª√– ‘∑∏‘¿“æ„π°“√«“ß·ºπ°“√„™â∑√—æ¬“°√ ·≈–°“√∫√‘À“√¢âÕ¡Ÿ≈∑“ß°“√∫—≠™’ °“√‡ß‘π °“√´◊ÈÕ °“√¢“¬ °“√∫√‘À“√

‘π§â“§ß§≈—ß ·≈–¢âÕ¡Ÿ≈°“√«“ß·ºπ°“√º≈‘μ ‡æ◊ËÕ„Àâ ‰¥â¢âÕ¡Ÿ≈∑’Ë∂Ÿ°μâÕß √«¥‡√Á« ¡’§«“¡·¡àπ¬” ´÷Ëß®–∑”„ÀâΩÉ“¬∫√‘À“√√—∫√Ÿâ

¢âÕ¡Ÿ≈·≈– “¡“√∂μ—¥ ‘π„®‰¥âÕ¬à“ß√«¥‡√Á« æ√âÕ¡∑—Èß¡’¡“μ√°“√‡æ◊ËÕ§«“¡ª≈Õ¥¿—¬¢Õß√–∫∫ “√ π‡∑» ‚¥¬‰¥â«“ß¡“μ√°“√

ªÑÕß°—π§«“¡‡ ’Ë¬ß∑’ËÕ“®®–‡°‘¥¢÷Èπ®“°√–∫∫ “√ π‡∑»¥â«¬‡™àπ°—π

„π°“√ª√–™ÿ¡§≥–°√√¡°“√·≈–ºŸâ∂◊ÕÀÿâπ ∫√‘…—∑¡’°“√®—¥ àß®¥À¡“¬‡™‘≠ª√–™ÿ¡æ√âÕ¡∑—Èß¢âÕ¡Ÿ≈ª√–°Õ∫∑’Ë‡æ’¬ßæÕμàÕ

°“√μ—¥ ‘π„® μ“¡√–¬–‡«≈“∑’Ë°ÆÀ¡“¬°”Àπ¥ æ√âÕ¡∑—Èß¡’°“√∫—π∑÷°√“¬ß“π°“√ª√–™ÿ¡∑’Ë¡’ “√– ”§—≠§√∫∂â«π ·≈–∫—π∑÷°

§«“¡‡ÀÁπ¢Õß°√√¡°“√·≈–ºŸâ∂◊ÕÀÿâπ„π‡√◊ËÕß∑’Ëæ‘®“√≥“‰«â‡ªìπ¡μ‘¢Õß«“√–°“√ª√–™ÿ¡‚¥¬√«¡ À“°¡’¢âÕ´—°∂“¡À√◊Õ§«“¡‡ÀÁπ

‰¡àμ√ß°—π®–∫—π∑÷°‰«â„π√“¬ß“π°“√ª√–™ÿ¡

5. ¥â“π√–∫∫°“√μ‘¥μ“¡

∫√‘…—∑¡’°“√°”Àπ¥‡ªÑ“À¡“¬°“√¥”‡π‘πß“π·≈–‡ª√’¬∫‡∑’¬∫º≈°“√¥”‡π‘πß“π„Àâ‡ªìπ‰ªμ“¡‡ªÑ“À¡“¬ À“°¡’§«“¡·μ°μà“ß

®–¥”‡π‘π°“√·°â ‰¢À√◊Õª√—∫‡ª≈’Ë¬π·ºπ°“√¥”‡π‘πß“π„Àâ∑—π‡«≈“·≈–‡À¡– ¡°—∫ ∂“π°“√≥å Õ’°∑—Èß¡’°“√μ√«® Õ∫°“√

ªØ‘∫—μ‘ß“πμ“¡√–∫∫§«∫§ÿ¡¿“¬„π∑’Ë«“ß‰«âÕ¬à“ß ¡Ë”‡ ¡Õ‚¥¬Àπà«¬ß“πμ√«® Õ∫¿“¬„π ·≈–°”Àπ¥„Àâ¡’°“√√“¬ß“πº≈

°“√μ√«® Õ∫μ√ßμàÕ§≥–°√√¡°“√μ√«® Õ∫ À“°æ∫¢âÕ∫°æ√àÕß∑’Ë¡’π—¬ ”§—≠§≥–°√√¡°“√μ√«® Õ∫μâÕß√“¬ß“πμàÕ

§≥–°√√¡°“√∫√‘…—∑ ‡æ◊ËÕæ‘®“√≥“ —Ëß°“√·°â ‰¢¿“¬„π√–¬–‡«≈“Õ—π§«√

®“°°“√ª√–‡¡‘π√–∫∫°“√§«∫§ÿ¡¿“¬„π¢Õß∫√‘…—∑„π¥â“πμà“ßÊ 5 à«π¥—ß°≈à“«¢â“ßμâπ §≥–°√√¡°“√‡ÀÁπ«à“ ∫√‘…—∑¡’√–∫∫

°“√§«∫§ÿ¡¿“¬„π∑’Ë¡’§«“¡‡À¡“– ¡·≈–‡æ’¬ßæÕ·≈â« ·≈–§≥–°√√¡°“√∫√‘…—∑μ√–Àπ—°¥’«à“ √–∫∫°“√§«∫§ÿ¡¿“¬„π„¥Ê

°Áμ“¡Õ“®®–‰¡à “¡“√∂√—∫ª√–°—π‰¥â∑—ÈßÀ¡¥μàÕ§«“¡‡ ’¬À“¬Õ—π‡°‘¥®“°§«“¡º‘¥æ≈“¥∑’Ë‡ªìπ “√– ”§—≠·μà°Á “¡“√∂ªÑÕß°—π

À√◊Õ√—∫ª√–°—π‰¥â „π√–¥—∫∑’Ë ¡‡Àμÿ ¡º≈


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2. Risk managementThe company manages risks according to the nature, suitability and type of risks, by evaluating internaland external factors, in order to find measures to prevent and manage risks so that they are at the levelacceptable to the organization and not to impact the operation of the company. It is also communicateto management team continually perform and monitor.

3. Control of performance of ManagementThe company designates the levels of approval powers and separate departments in a way that promotescoordination and balancing of power. Scope of authority and amount of money within the approval powerof each level of Management are designated in writing together with division of duties and responsibilities.Procedure of connected transactions is clearly stipulated in accordance with the notification of the StockExchange of Thailand. The Board of Directors regularly receives reports from, and reviews performanceof, Management.

4. Information technology and communicationThe company secures efficient communications within and outside the organization. Accounting entrysupporting documents are kept completely and systematically, and generally accepted accounting principleis applied. Application software are used to enhance the planning of resource utilization and managementof accounting, financial, purchase, sale, inventory and production planning data, so as to obtain accurate,prompt and precise data. This will enable Management to be informed and be able to promptly make decisions.Safety measures for information system are put in place as well as measures for prevention of risks that mayarise from the information system.

For Board of Directors meetings and shareholdersû meetings, the company sends notice together withadequate supporting information for decision making, within the period required by law. Minutes of meetingwith full material contents are prepared. Resolutions and opinions of directors and shareholders are recordedin the minutes together with questions and dissenting opinions.

5. MonitoringThe company sets goals and compares the actual performance against the goals. In case of any difference,action plan will be corrected or adjusted in a timely manner and appropriately to the situation. Examinationof performance according to the internal control designated is conducted regularly by the internal auditdepartment, and audit result must be reported directly to the Audit Committee. If any significant defect is found,the Audit Committee must report the same to the Board of Directors for an order of corrections within anappropriate time.

From the evaluation of the 5 aspects of the companyûs internal control described above, the Board of Directorsis of the opinion that the company has appropriate and adequate internal control. The Board also recognizesthat any internal control may not guarantee that there will be no damage from significant errors but that damagecan be prevented or remedied at a reasonable level.

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°‘®°√√¡·≈–§«“¡√—∫º‘¥™Õ∫μàÕ ™ÿ¡™π —ß§¡·≈– ‘Ëß·«¥≈âÕ¡∫√‘…—∑œ „Àâ§«“¡ ”§—≠°—∫°“√‡μ‘∫‚μÕ¬à“ß¬—Ëß¬◊π¢Õß —ß§¡·≈– ‘Ëß·«¥≈âÕ¡ §«∫§Ÿà

°—∫°“√¥”‡π‘π∏ÿ√°‘®π—∫μ—Èß·μà‡√‘Ë¡°àÕμ—Èß∫√‘…—∑œ ‚¥¬‰¥â¥”‡π‘π°‘®°√√¡μà“ßÊ ∑’Ë· ¥ßÕÕ°

∂÷ß§«“¡√—∫º‘¥™Õ∫μàÕ —ß§¡ ™ÿ¡™π ·≈– ‘Ëß·«¥≈âÕ¡ ‡ªìπ ”§—≠ ‰¡à«à“®–„π‡√◊ËÕß¢Õß

¢∫«π°“√º≈‘μ∑’Ë¡’°“√§«∫§ÿ¡„Àâ‡ªìπ¡‘μ√μàÕ ‘Ëß·«¥≈âÕ¡ ‚¥¬Õ¬Ÿà¿“¬„μâ°√Õ∫√–‡∫’¬∫

°ØÀ¡“¬·≈–¢âÕ∫—ß§—∫∑’Ë‡°’Ë¬«¢âÕß¡“‚¥¬μ≈Õ¥ ¡’°“√μ√«®μ‘¥μ“¡Õ¬à“ßμàÕ‡π◊ËÕß ¥â«¬°“√

‡™‘≠Àπà«¬ß“π¿“¬πÕ°∑—Èß à«πß“π√“™°“√∑’Ë‡°’Ë¬«¢âÕß ·≈–μ—«·∑π¢Õß™ÿ¡™π‚¥¬√Õ∫

‡¢â“¡“√à«¡°“√μ√«® Õ∫ √«¡∂÷ß°“√π”√–∫∫°“√®—¥°“√μ“¡¡“μ√“∞“πμà“ßÊ ¡“∫√‘À“√

®—¥°“√°“√¥”‡π‘πß“π¢Õß∫√‘…—∑ ‡™àπ ISO 9001√–∫∫°“√∫√‘À“√ß“π§ÿ≥¿“æ, ISO 14001

√–∫∫°“√®—¥°“√ ‘Ëß·«¥≈âÕ¡, ¡Õ°. 18001 ·≈– BS OHSAS 18001√–∫∫°“√®—¥°“√

Õ“™’«Õπ“¡—¬·≈–§«“¡ª≈Õ¥¿—¬ ÷Ëß∫√‘…—∑œ ‰¥â√—∫°“√μàÕÕ“¬ÿ°“√√—∫√Õß¡“Õ¬à“ßμàÕ‡π◊ËÕß

‚¥¬μ≈Õ¥

πÕ°®“°π’È·≈â« ∫√‘…—∑œ ¬—ß„Àâ§«“¡ ”§—≠°—∫°“√ àß‡ √‘¡·≈–æ—≤π“§ÿ≥¿“æ™’«‘μ

‘Ëß·«¥≈âÕ¡ ¥â«¬°“√ √â“ß √√§å°‘®°√√¡μà“ßÊ √«¡∑—Èß„Àâ°“√ π—∫ πÿπ°‘®°√√¡¢Õß™ÿ¡™π

Àπà«¬ß“π¿“§√—∞ ·≈–Õß§å°“√‡Õ°™πμà“ßÊ ‡æ◊ËÕ°“√æ—≤π“™ÿ¡™π·≈– —ß§¡Õ—π‡ªìπ

√“°∞“π∑’Ë ”§—≠¢Õßª√–‡∑» ´÷Ëß √ÿª‰¥â¥—ßπ’È

¥â“π ‘Ëß·«¥≈âÕ¡ (Cool the World)∫√‘…—∑œ ‰¥â®—¥‚§√ß°“√√—°…åπÈ” √—°…åªÉ“ √—°…“∏√√¡™“μ‘ ‚¥¬¡’

«—μ∂ÿª√– ß§å„π°“√Õπÿ√—°…å∏√√¡™“μ‘·≈– ‘Ëß·«¥≈âÕ¡ ¥—ßπ’È

ë °‘®°√√¡ª≈àÕ¬ª≈“ 200,000 μ—« ∑’Ë‡¢◊ËÕπ·°àß°√–®“π √«¡∂÷ß°“√ª≈Ÿ°μâπ‰¡âªÉ“ ®”π«π 200 μâπ ‡æ◊ËÕ‡æ‘Ë¡æ◊Èπ∑’Ë ’‡¢’¬«„Àâ°—∫

Õÿ∑¬“π·Ààß™“μ‘·°àß°√–®“π

ë √à«¡°‘®°√√¡°“√ª≈àÕ¬ªŸ¡â“·≈–ª≈Ÿ°ªÉ“™“¬‡≈π°—∫‡∑»∫“≈μ”∫≈·À≈¡

ë √à«¡ª≈Ÿ°ªÉ“™“¬‡≈π°—∫ ¿“«‘»«°√

ë ‡¢â“√à«¡ª≈Ÿ°ªÉ“™“¬‡≈π °—∫‚§√ß°“√ ç®‘μÕ“ “æ≈—ß √â“ß‚≈°ª≈Ÿ°ªÉ“™“¬‡≈π ≥ ∫â“π¢ÿπ ¡ÿ∑√®’π ®. ¡ÿ∑√ª√“°“√é

ë „Àâ°“√ π—∫ πÿπμâπ‰¡â ‡æ◊ËÕ √â“ß°“√¡’ à«π√à«¡°—∫™ÿ¡™π„π¥â“π°“√Õπÿ√—°…å∑√—æ¬“°√∏√√¡™“μ‘·≈– ‘Ëß·«¥≈âÕ¡ ·≈–¡Õ∫°≈â“‰¡â

‡æ◊ËÕ‡æ‘Ë¡æ◊Èπ∑’Ë ’‡¢’¬«„π‚§√ß°“√ Àæ—≤πå√«¡„® ≈¥¿—¬‚≈°√âÕπ

ë √à«¡°—∫‡∑»∫“≈μ”∫≈·À≈¡©∫—ß ®—¥ª√–°«¥‚§√ß°“√∫â“πª√–À¬—¥æ≈—ßß“π‰øøÑ“

ë ®—¥°‘®°√√¡ª√–°«¥«“¥¿“æ„πÀ—«¢âÕ‡√◊ËÕß çª√–À¬—¥æ≈—ßß“π °Ÿâ‚≈°√âÕπé ‡æ◊ËÕ √â“ß®‘μ ”π÷°√—°…“ ‘Ëß·«¥≈âÕ¡„Àâ°—∫π—°‡√’¬π‚¥¬

√Õ∫‚√ß‰øøÑ“


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The company has paid a great deal of attention to the sustainable

development of social and environment together with business operation

since the establishment of the company. The company has continued to do

activities that express our responsibility toward the society, the community

and the environment. These activities include environmental friendly and

law compliant production. We continue to monitor ourselves by inviting

government agencies and community representatives to witness

our monitoring system. The company has been certified with several

management systems, such as ISO 9001, ISO 14001, TIS 18001, and BS

OHSAS 18001.

Furthermore, the company has paid attention to improving the quality

of live and the environment by initiating and supporting activities for the

communities, and for private and public sectors, in order to develop the

communities which are the grassroots of the country. These activities

include:

Corporate Social Responsibility

Environment (Cool the World)The company initiated the çSave the Water, Save the Forest, Save

the Nature Projecté with environmental conservation objectives andactivities as follows:

ë 200,000 fish released at Kangkrajan Dam and 200 trees planted at Kangkrajan National Park.ë Participated in portunid crab release and mangrove reforestation activities organized by Lamchabang Municipality.ë Participated in mangrove reforestation with the Council of Engineers.ë Participated in the çVolunteers Save the World: Mangrove Reforestation at Khun Samutra Chin Village, Samutprakarn

Projectéë Supported and participated in tree planting with the communities to conserve the natural resource and environment

and donated baby plants to increase green area in çCool the Worldé project by Sahaphat.ë Collaborated with Lamchabang Municipality in the çPower Saving Home Contesté project.ë Organized a drawing contest on the subject çPower Conservation Fights Global Warmingé to promote environmental

conservation awareness among students who live near the power plant.

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¥â“π°“√»÷°…“°“√»÷°…“‡ªìπæ◊Èπ∞“π∑’Ë ”§—≠μàÕ°“√æ—≤π“ª√–‡∑»™“μ‘Õ¬à“ß¬—Ëß¬◊π ∫√‘…—∑œ ®÷ß„Àâ°“√ π—∫ πÿπ·≈–

àß‡ √‘¡°‘®°√√¡μà“ßÊ Õ—π‡ªìπª√–‚¬™πåμàÕ°“√»÷°…“¢Õß‡¬“«™π ∑—Èß°“√ ÷Ëß ¡Õ∫∑ÿπ°“√»÷°…“„Àâ°—∫‚√ß‡√’¬π

‚¥¬√Õ∫‚√ß‰øøÑ“ °“√¡Õ∫ “√“πÿ°√¡‰∑¬ ”À√—∫‡¬“«™π„Àâ°—∫ÀâÕß ¡ÿ¥μà“ßÊ ‡æ◊ËÕ àß‡ √‘¡·≈–‡æ‘Ë¡æŸπ§«“¡√Ÿâ

„Àâ°—∫‡¬“«™π ‡ªìπμâπ

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ë ®—¥‚§√ß°“√Õ“À“√°≈“ß«—π‡æ◊ËÕπâÕß¥â«¬°“√¡Õ∫‡ß‘π π—∫ πÿπ‡æ◊ËÕ‡ªìπ∑ÿπÕ“À“√°≈“ß«—π„Àâ°—∫‚√ß‡√’¬πμ”√«® μ™¥. ∫â“π·¡à√Õß

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ë ¡Õ∫∂—ßπÈ”„Àâ°—∫‚√ß‡√’¬π«—¥®ÿ°°–‡¨Õ ‡æ◊ËÕ„Àâ‡¥Á°π—°‡√’¬π¡’πÈ” –Õ“¥‰«â„™â

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ë „Àâ°“√ π—π πÿππÈ”¥◊Ë¡·≈–‡ß‘π‡æ◊ËÕ™à«¬‡À≈◊ÕºŸâª√– ∫¿—¬æ‘∫—μ‘™ÿ¡™π·À≈¡©∫—ß

ë àß‡ √‘¡Õ“™’æ‡æ“–°≈â“‰¡â‚μ‡√Á«„Àâ°—∫™ÿ¡™π‚¥¬√Õ∫‚§√ß°“√ √â“ß‡ √‘¡√“¬‰¥â„Àâ°—∫™ÿ¡™π

ë √à«¡°—∫ SPI ·≈–™ÿ¡™π„π°“√æ—≤π“·≈–√—°…“§«“¡ –Õ“¥‡ âπ∑“ß “∏“√≥–

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ß“π∑”∫ÿ≠«—π¢÷Èπªï„À¡à ß“π∑”∫ÿ≠«—π ß°√“πμå ß“π«—π‡¢â“æ√√…“ ß“π∑Õ¥°∞‘π “¡—§§’ °“√∑”∫ÿ≠ √â“ß»“≈“°“√‡ª√’¬≠ ‡æ◊ËÕ ◊∫∑Õ¥

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ª≈Õ¥¿—¬„Àâ°—∫æπ—°ß“π‡ªìπª√–®”


69


EducationEducation is the basic building block of sustainable development. The company

supports activities that are beneficial to youth education. These include providing scholarshipsto schools in the vicinity of the power plant, donating Thai encyclopedia to libraries, andeducating the youth.

Social and CommunitiesIn order to enable the communities to develop independently and sustainably, the company organized social activities

for the communities under the çSharing the Smileé project as follows:ë Provided learning tools for çSpecial Childé to Wat Na Prao School so that children with learning disabilities can

improve and study with other normal children.ë Supported fencing water wells and using it to grow dragon fruit to be used for dessert for children at the Lorenzo

Orphanage.ë Organized the çLunch for Childrené project and donated money to the Border Patrol Police School at Mae Rong

Village, Chiang Mai.ë Donated water tanks to Wat Juk Kracher School to provide clean water to students.ë Donated money to build the security center at Tambol Wangtan and Tambol Nonsi to look after the security for the

community and travelers.ë Provided drinking water and donated money to people affected by disaster at Lamchabang community.ë Supported fast growing tree planting in the communities around the facility to increase their income.ë Collaborated with SPI and the communities to improve the cleanliness of the streets.

ReligionThe company has placed high importance to religious activities by participating and supporting them, including New Yearmerit making, Songkran festival, Kaopansa ceremony, Kathin ceremony, sermon hall building, in order to promote andconserve Thai culture.

SafetyThe company has regularly conducted emergency and evacuation

drills to prepare for emergency in accordance with the laws andregulations. Moreover, the company has complied with the occupationalhealth and safety management system, according to TIS 18001 and BSOHSAS 18001 and regularly organized safety promotion activities forour employees.

70

√ÿªº≈ª√–°Õ∫°“√·≈–∞“π–∑“ß°“√‡ß‘π

(Àπà«¬ : æ—π∫“∑)

º≈°“√¥”‡π‘πß“π 2552 2551 2550

¢“¬ 3,041,864 3,048,742 2,806,237

√“¬‰¥â√«¡ 3,046,317 3,061,126 2,812,738

μâπ∑ÿπ¢“¬·≈–§à“∫√‘À“√¥”‡π‘π°“√ 2,650,636 2,665,823 2,341,022

¥Õ°‡∫’È¬®à“¬ 113,645 121,172 135,498

°”‰√°àÕπÀ—°¿“…’ 282,036 274,131 336,218

¿“…’‡ß‘π‰¥â 17,522 13,009 24,616

°”‰√ ÿ∑∏‘ 264,515 261,122 311,602

∞“π–°“√‡ß‘π

‘π∑√—æ¬åÀ¡ÿπ‡«’¬π 663,504 667,637 803,869

‘π∑√—æ¬å∂“«√ 4,218,467 4,034,682 4,115,124

‘π∑√—æ¬å√«¡ 4,881,971 4,702,319 4,918,993

Àπ’È ‘πÀ¡ÿπ‡«’¬π 367,259 318,272 619,817

Àπ’È ‘π‰¡àÀ¡ÿπ‡«’¬π 2,527,200 2,517,100 2,408,100

∑ÿπ‡√◊ÕπÀÿâπ 955,000 955,000 955,000

à«π¢ÕßºŸâ∂◊ÕÀÿâπ 1,987,612 1,866,947 1,891,075


71


(Unit : Baht ù000)

Operational Highlights 2009 2008 2007

Sales 3,041,864 3,048,742 2,806,237

Total Revenues 3,046,317 3,061,126 2,812,738

Cost of Sales and Expenses 2,650,636 2,665,823 2,341,022

Interest 113,645 121,172 135,498

Earning Before Tax 282,036 274,131 336,218

Income Tax 17,522 13,009 24,616

Net Income 264,515 261,122 311,602

Financial Highlights

Current Assets 663,504 667,637 803,869

Fixed Assets 4,218,467 4,034,682 4,115,124

Total Assets 4,881,971 4,702,319 4,918,993

Current Liabilities 367,259 318,272 619,817

Non-Current Liabilities 2,527,200 2,517,100 2,408,100

Share Capital Fully Paid 955,000 955,000 955,000

Shareholdersû Equity 1,987,612 1,866,947 1,891,075

Performance Summaary and Financial Hightlights

72

2547 2548 2549 2550 2551 2552

Õ—μ√“ à«π ¿“æ§≈àÕßÕ—μ√“ à«π ¿“æ§≈àÕß 1.06 1.73 1.48 1.30 2.10 1.81 ‡∑à“

Õ—μ√“ à«π ¿“æ§≈àÕßÀ¡ÿπ‡√Á« 0.89 1.42 1.24 1.06 1.55 1.35 ‡∑à“

Õ—μ√“ à«π ¿“æ§≈àÕß°√–· ‡ß‘π ¥ 1.50 0.24 1.41 1.00 0.63 1.62 ‡∑à“

Õ—μ√“ à«πÀ¡ÿπ‡«’¬π≈Ÿ°Àπ’È°“√§â“ 7.41 7.37 7.79 7.57 7.55 7.28 ‡∑à“

√–¬–‡«≈“‡°Á∫Àπ’È‡©≈’Ë¬ 48.57 48.87 46.19 47.58 47.67 49.46 «—π

Õ—μ√“ à«πÀ¡ÿπ‡«’¬π‡®â“Àπ’È 16.65 16.33 10.56 7.51 10.46 14.81 ‡∑à“

√–¬–‡«≈“™”√–Àπ’È 21.63 22.04 34.08 47.91 34.42 24.31 «—π

√Õ∫‡«≈“‡ß‘π ¥ 26.95 26.83 12.11 -0.33 13.25 25.16 «—π

Õ—μ√“ à«π· ¥ß§«“¡ “¡“√∂„π°“√∑”°”‰√

Õ—μ√“°”‰√¢—Èπμâπ 22.25 19.82 20.68 20.99 17.05 17.06 %

Õ—μ√“°”‰√®“°°“√¥”‡π‘πß“π 19.40 17.00 17.90 16.81 12.97 13.01 %

Õ—μ√“°”‰√Õ◊Ëπ 0.30 0.08 0.46 0.23 0.40 0.15 %

Õ—μ√“ à«π‡ß‘π ¥μàÕ°“√∑”°”‰√ 156.00 29.40 158.36 132.97 75.20 140.67 %

Õ—μ√“°”‰√ ÿ∑∏‘ 15.07 12.99 13.03 11.08 8.53 8.68 %

Õ—μ√“º≈μÕ∫·∑πºŸâ∂◊ÕÀÿâπ 19.88 18.81 20.70 16.59 13.90 13.72 %

Õ—μ√“ à«π· ¥ßª√– ‘∑∏‘¿“æ„π°“√¥”‡π‘πß“π

Õ—μ√“º≈μÕ∫·∑π®“° ‘π∑√—æ¬å 7.32 6.58 7.20 6.18 5.43 5.52 %

Õ—μ√“º≈μÕ∫·∑π®“° ‘π∑√—æ¬å∂“«√ 13.52 12.28 14.20 13.27 12.58 12.79 %

Õ—μ√“À¡ÿπ‡«’¬π¢Õß ‘π∑√—æ¬å 0.49 0.51 0.55 0.56 0.65 0.64 ‡∑à“

Õ—μ√“ à«π«‘‡§√“–Àåπ‚¬∫“¬∑“ß°“√‡ß‘π

Õ—μ√“ à«πÀπ’È ‘πμàÕ à«π¢ÕßºŸâ∂◊ÕÀÿâπ 1.72 2.00 1.77 1.60 1.52 1.46 ‡∑à“

Õ—μ√“ à«π§«“¡ “¡“√∂™”√–¥Õ°‡∫’È¬ 8.06 2.11 6.92 5.45 3.56 6.07 ‡∑à“

Õ—μ√“®à“¬‡ß‘πªíπº≈ 88.90 83.93 51.90 77.85 91.94 54.86 %

Õ—μ√“ à«π∑“ß°“√‡ß‘π


73


2004 2005 2006 2007 2008 2009

Liquidity RatioCurrent Ratio 1.06 1.73 1.48 1.30 2.10 1.81 time

Quick Ratio 0.89 1.42 1.24 1.06 1.55 1.35 time

Current Cash Flow Ratio 1.50 0.24 1.41 1.00 0.63 1.62 time

Accounts Receivable Turnover 7.41 7.37 7.79 7.57 7.55 7.28 time

Average Collection Period 48.57 48.87 46.19 47.58 47.67 49.46 days

Accounts Payable Turnover 16.65 16.33 10.56 7.51 10.46 14.81 time

Payment Period 21.63 22.04 34.08 47.91 34.42 24.31 days

Cash Cycle 26.95 26.83 12.11 -0.33 13.25 25.16 days

Profitability Ratio

Gross Profit 22.25 19.82 20.68 20.99 17.05 17.06 %

Operating Profit 19.40 17.00 17.90 16.81 12.97 13.01 %

Other Profit 0.30 0.08 0.46 0.23 0.40 0.15 %

Operating Cash Flow Turnover 156.00 29.40 158.36 132.97 75.20 140.67 %

Net profit 15.07 12.99 13.03 11.08 8.53 8.68 %

Return on Equity 19.88 18.81 20.70 16.59 13.90 13.72 %

Efficiency Ratio

Return on Total Asset 7.32 6.58 7.20 6.18 5.43 5.52 %

Return on Fixed Asset 13.52 12.28 14.20 13.27 12.58 12.79 %

Total Asset Turnover 0.49 0.51 0.55 0.56 0.65 0.64 time

Financial Policy Ratio

Debt to Equity 1.72 2.00 1.77 1.60 1.52 1.46 time

Interest Coverage 8.06 2.11 6.92 5.45 3.56 6.07 time

Payout Ratio 88.90 83.93 51.90 77.85 91.94 54.86 %

Financial Ratio

74

§”Õ∏‘∫“¬·≈–«‘‡§√“–Àåº≈°“√¥”‡π‘πß“π ·≈–∞“π–°“√‡ß‘π

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‚¥¬¡’√“¬≈–‡Õ’¬¥º≈°“√¥”‡π‘πß“πμ“¡ß∫°“√‡ß‘π¢Õß∫√‘…—∑·≈–∫√‘…—∑¬àÕ¬

1. º≈°“√¥”‡π‘πß“π1.1 ¿“æ√«¡¢Õßº≈°“√¥”‡π‘πß“π∑’Ëºà“π¡“

„πªï 2552 ∫√‘…—∑·≈–∫√‘…—∑¬àÕ¬¡’√“¬‰¥â√«¡ 3,046 ≈â“π∫“∑ ≈¥≈ß 15 ≈â“π∫“∑ À√◊Õ√âÕ¬≈– 0.48 ‡¡◊ËÕ‡∑’¬∫°—∫ªï 2551 ‚¥¬

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º≈°√–∑∫®“°«‘°ƒμ‡»√…∞°‘® ¡’μâπ∑ÿπ¢“¬§à“„™â®à“¬∫√‘À“√√«¡®”π«π 2,650 ≈â“π∫“∑ ≈¥≈ß 15 ≈â“π∫“∑ §‘¥‡ªìπ√âÕ¬≈–

0.57 ‚¥¬‡ªìπ°“√≈¥≈ß¢Õßμâπ∑ÿπ¢“¬·≈–§à“„™â®à“¬∫√‘À“√≈¥≈ß 6 ≈â“π∫“∑ ·≈– 9 ≈â“π∫“∑ μ“¡≈”¥—∫ ¥Õ°‡∫’È¬®à“¬

≈¥≈ß 7 ≈â“π∫“∑ à«π¿“…’‡ß‘π‰¥âπ‘μ‘∫ÿ§§≈‡æ‘Ë¡™÷Èπ 4 ≈â“π∫“∑ ∑”„Àâ∫√‘…—∑¡’°”‰√ ÿ∑∏‘ ”À√—∫ªï 2552 μ“¡ß∫°“√‡ß‘π√«¡

√«¡∑—Èß ‘Èπ 264 ≈â“π∫“∑ ‡æ‘Ë¡™÷Èπ 3 ≈â“π∫“∑ §‘¥‡ªìπ√âÕ¬≈– 1.30

1.2 º≈°“√¥”‡π‘πß“π∑’Ëºà“π¡“¢Õß·μà≈–º≈‘μ¿—≥±å

ë √“¬‰¥â®“°°“√¢“¬

¡’√“¬‰¥â®“°°“√¢“¬√«¡ 3,042 ≈â“π∫“∑ ≈¥≈ß 7 ≈â“π∫“∑ À√◊Õ√âÕ¬≈– 0.23 ‡¡◊ËÕ‡∑’¬∫°—∫ªï 2551 ‚¥¬¢“¬‰øøÑ“

„Àâ°“√‰øøÑ“ΩÉ“¬º≈‘μ‡æ‘Ë¡¢÷Èπ 16 ≈â“π∫“∑ μ“¡√“§“°ä“´∏√√¡™“μ‘∑’Ë‡ªìπ¥—™π’°“√§‘¥√“§“´◊ÈÕ¢“¬‰øøÑ“ √«¡∑—Èß¢“¬

‰øøÑ“„Àâ·°à≈Ÿ°§â“ «πÕÿμ “À°√√¡‡æ‘Ë¡¢÷Èπ 37 ≈â“π∫“∑ ®“°Õ—μ√“√“§“‡©≈’Ë¬∑’Ë Ÿß¢÷ÈπÀ≈—ß°“√ª√—∫‡æ‘Ë¡Õ—μ√“§à“‰øøÑ“ (Ft.)

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ë √“¬‰¥âÕ◊Ëπ

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75


This analysis is based on the consolidated financial statements 2009 in comparing to one of 2008. The details of thecompany and its subsidiariesû financial performance are as described in the audited financial statement herein and theannual statement (Form 56-1).

1. Results of the Operations1.1 Overview of Operations in the previous year

In the year 2009, the revenues were totaling Baht 3,042 million, a decrease of Baht 15 million or 0.48% due toBaht 7 million lower in other revenues and the decrease of industrial steam sales of which affected by therecession. The cost of sales and administrative expenses were Baht 2,650 million, Baht 15 million or 0.57% lowerthan the previous year. The interest expense reduced by Baht 7 million but the cooperate income tax increasedby Baht 4 million, partly from the adjustment of the production and revenue booking. The above changesresulted in the net profit of Baht 264 million, an increase of Baht 3 million or 1.30% from the previous year.

1.2 Operation result of Product Unitsë Revenues from Sales

The total revenues of the year were Baht 3,042 million, Baht 7 million or 0.23% lower than the previousyear. The revenues from sales to EGAT increased by Baht 16 million as the result of the price escalationwith the higher fuel gas price. The revenues from selling electricity to industrials were Baht 37 millionhigher than the previous resulted from the higher electricity rate after the Ft adjustment granted in January.However, the revenues from steam sales reduced by Baht 60 million due to the lower consumptionand average price.

ë Other RevenuesNo insurance compensation was accounted as in the previous year, the other incomes in 2009 wastherefore lower by Baht 8 million.

ë Cost and ExpensesDespite the higher gas price, the operating performance was successfully enhanced resulting inreduction of the cost of sales by Baht 6 million or 0.23%. The administration expenses were intensivelycontrolled and reduced Baht 9 million, or 6.79% in comparing to the preceding year. The interest wasBaht 7 million or 6.21% lower than the previous year resulting from the loan restructuring in thesecond quarter of 2008. The adjustment of the tax calculation to the Revenue Department practice inlieu of the BOI principle resulted in an increase of the income tax by Baht 4 million or 34.68%.

ë Gross ProfitEven the sales and revenues were affected by the recession, the earnings from operation wassuccessfully maintained at the last year level of Baht 395 million by the enhanced production andminimized administrative expenses.

Operational and Financial Analysis

76

2. ∞“π–°“√‡ß‘πë ‘π∑√—æ¬å : ≥ «—π∑’Ë 31 ∏—π«“§¡ 2552 ∫√‘…—∑¡’ ‘π∑√—æ¬å√«¡®”π«π 4,881 ≈â“π∫“∑ ‡æ‘Ë¡¢÷Èπ®”π«π 179 ≈â“π∫“∑ À√◊Õ

√âÕ¬≈– 3.82 ‚¥¬°“√‡æ‘Ë¡¢÷Èπ∑’Ë ”§—≠ ◊∫‡π◊ËÕß®“°°“√¥”‡π‘π‚§√ß°“√¢Õß∫√‘…—∑¬àÕ¬∑’ËÕ¬Ÿà√–À«à“ß°“√°àÕ √â“ß§◊Õ∑’Ë¥‘π Õ“§“√

Õÿª°√≥å ·≈–°“√ª≈Ÿ°æ◊™æ≈—ßß“π‡æ◊ËÕ‡ªìπ·À≈àß‡™◊ÈÕ‡æ≈‘ß √«¡∑—Èß ‘Èπ 174 ≈â“π∫“∑

ë Àπ’È ‘π : ∫√‘…—∑Àπ’È ‘π√«¡ 2,894 ≈â“π∫“∑ ‡æ‘Ë¡¢÷Èπ 59 ≈â“π∫“∑ §‘¥‡ªìπ√âÕ¬≈– 2.08 ‡ªìπ°“√‡æ‘Ë¡¢ÕßÀπ’Èß“π°àÕ √â“ß

·≈–ª√–°—π°—πº≈ß“π‚§√ß°“√°àÕ √â“ß¢Õß∫√‘…—∑¬àÕ¬ ·≈–°“√‡æ‘Ë¡¢Õß‡ß‘π°Ÿâ¬◊¡√–¬–¬“«∑’Ë∂÷ß°”Àπ¥™”√–√«¡ 55 ≈â“π∫“∑

ë à«π¢ÕßºŸâ∂◊ÕÀÿâπ : ¡’ à«π¢ÕßºŸâ∂◊ÕÀÿâπ√«¡ 1,987 ≈â“π∫“∑ ‡æ‘Ë¡¢÷Èπ 120 ≈â“π∫“∑ À√◊Õ√âÕ¬≈– 6.46 ®“°°”‰√ – ¡¬—ß‰¡à

‰¥â®—¥ √√

3. ¿“æ§≈àÕßë °√–· ‡ß‘π ¥ : ¡’°√–· ‡ß‘π ¥®“°°‘®°√√¡¥”‡π‘πß“π√«¡ 602 ≈â“π∫“∑ ‡æ‘Ë¡¢÷Èπ 305 ≈â“π∫“∑À√◊Õ√âÕ¬≈– 102.5

‡¡◊ËÕ‡ª√’¬∫‡∑’¬∫°—∫ªï 2551‚¥¬°“√‡æ‘Ë¡¢÷Èπ∑’Ë ”§—≠¡“®“°°“√‡ª≈’Ë¬π·ª≈ß¢Õß≈Ÿ°Àπ’È°“√§â“·≈–‡®â“Àπ’È°“√§â“ √«¡ 212

≈â“π∫“∑

ë Õ—μ√“ à«π ¿“æ§≈àÕß : ≈¥≈ß®“° 2.10 ¢Õßªï 2551 ‡À≈◊Õ 1.81 ◊∫‡π◊ËÕß®“°°“√‡æ‘Ë¡¢÷Èπ¢ÕßÀπ’È ‘πÀ¡ÿπ‡«’¬π√«¡ 49

≈â“π∫“∑ ‚¥¬‡ªìπ à«π‡®â“Àπ’Èß“π°àÕ √â“ß‚§√ß°“√¢Õß∫√‘…—∑¬àÕ¬ ®”π«π 45 ≈â“π∫“∑

4. ª√– ‘∑∏‘¿“æ„π°“√¥”‡π‘πß“πÕ—μ√“º≈μÕ∫·∑π®“° ‘π∑√—æ¬å·≈–Õ—μ√“À¡ÿπ¢Õß ‘π∑√—æ¬å Õ¬Ÿà„π√–¥—∫„°≈â‡§’¬ß°—∫ªï 2551 ‡∑à“°—∫ 5.52% ·≈– 0,64 %μ“¡

≈”¥—∫ Õ—μ√“º≈μÕ∫·∑π®“° ‘π∑√—æ¬å∂“«√ 12.79% ‡æ‘Ë¡¢÷Èπ®“° 12.58% ¢Õßªï 2551 ‡≈Á°πâÕ¬


77


2. Financial Statusë Assets : As of December 31, 2009, the total assets amounted to Baht 4,881 million, an increase of Baht 179

million or 3.82% mainly from the additional equipments and energy plant farming of the subsidiariesû project inprogress totaling Baht 174 million.

ë Liabilities : The total liabilities amounted to Baht 2,894 million Baht, an increase of Baht 59 million or 2.08% incomparing with 2008 mainly from the increase of the construction and retention account payable and incremen-tal repayment of the long term loan due.

ë Shareholdersû Equity : Shareholdersû equity totaled Baht 1,987 million, an increase of Baht 120 million or 6.46%from the increase of the net retained earnings.

3. Liquidityë Cash Flow : The company had net cash from operating activities of Baht 602 million, Baht 305 million or 102.5%

higher than the previous year resulted from the positive changes of the trade receivable and payable accounts.

ë Liquidity Ratio : Decreased from 2.10 of the year 2008 to 1.81 due to the Baht 49 million increase of the currentliabilities of which mainly for the construction and retention payable of the subsidiaryûs project amount of Baht45 million.

4. EffectivenessThe return on total assets and the total assets turnover were equivalent to the previous year.The return on fixed assetswas 12.79% slightly higher than 12.58% of the previous year as the result of the lower average fixed asset

78

√“¬ß“π§«“¡√—∫º‘¥™Õ∫¢Õß§≥–°√√¡°“√μàÕ√“¬ß“π∑“ß°“√‡ß‘π

§≥–°√√¡°“√∫√‘…—∑ À‚§‡®π (™≈∫ÿ√’) ®”°—¥ (¡À“™π) ‡ªìπºŸâ√—∫º‘¥™Õ∫ß∫°“√‡ß‘π¢Õß∫√‘…—∑ ·≈–∫√‘…—∑¬àÕ¬ ∑’Ëπ”¡“®—¥∑”

ß∫°“√‡ß‘π√«¡ ·≈–√«¡∂÷ß¢âÕ¡Ÿ≈ “√ π‡∑»∑“ß°“√‡ß‘π∑’Ëª√“°Ø„π√“¬ß“πª√–®”ªï ´÷Ëß‰¥â®—¥∑”¢÷Èπμ“¡À≈—°°“√∫—≠™’∑’Ë√—∫√Õß∑—Ë«‰ª¿“¬„μâ

æ√–√“™∫—≠≠—μ‘°“√∫—≠™’ æ.». 2543 ·≈–μ“¡¢âÕ°”Àπ¥¢Õß§≥–°√√¡°“√°“√°”°—∫À≈—°∑√—æ¬å·≈–μ≈“¥À≈—°∑√—æ¬å ‚¥¬‰¥â¡’°“√‡ªî¥‡º¬

¢âÕ¡Ÿ≈Õ¬à“ß‡æ’¬ßæÕ·≈–∂Ÿ°μâÕß§√∫∂â«π„π “√– ”§—≠∑ÿ°ª√–°“√

πÕ°®“°π’È §≥–°√√¡°“√∫√‘…—∑¬—ß‰¥â®—¥„Àâ¡’√–∫∫∫√‘À“√§«“¡‡ ’Ë¬ß ·≈–√–∫∫§«∫§ÿ¡¿“¬„π∑’Ë‡À¡“– ¡·≈–¡’ª√– ‘∑∏‘º≈

‡æ◊ËÕªÑÕß°—π‰¡à„Àâ‡°‘¥§«“¡‡ ’Ë¬ß®“°°“√¥”‡π‘πß“πÀ√◊Õ°“√¥”‡π‘π°“√∑’Ëº‘¥ª°μ‘Õ¬à“ß¡’ “√– ”§—≠ ¡’°“√√–∫∫ªÑÕß°—π·≈–¥Ÿ·≈√—°…“

∑√—æ¬å ‘π∑’Ë¥’ ·≈–√“¬°“√∑’Ë‡°’Ë¬«‚¬ß°—π ÷ËßÕ“®∑”„Àâ‡°‘¥§«“¡¢—¥·¬âß∑“ßº≈ª√–‚¬™πå‡ªìπ√“¬°“√®√‘ß∑“ß°“√§â“ Õ—π‡ªìπ∏ÿ√°‘®ª°μ‘∑—Ë«‰ª

Õ¬à“ß ¡‡Àμÿ ¡º≈·≈–‡ªìπª√–‚¬™πå Ÿß ÿ¥

§≥–°√√¡°“√∫√‘…—∑μ√–Àπ—°∂÷ß§«“¡ ”§—≠¢Õßß∫°“√‡ß‘π ·≈–°“√§«∫§ÿ¡¿“¬„π¢Õß∫√‘…—∑ ®÷ß‰¥â·μàßμ—Èß§≥–°√√¡°“√μ√«® Õ∫

‡ªìπºŸâ¥Ÿ·≈‡°’Ë¬«°—∫§ÿ≥¿“æ¢Õßß∫°“√‡ß‘π ·≈–°“√§«∫§ÿ¡¿“¬„π ¥—ß§«“¡‡ÀÁπ¢Õß§≥–°√√¡°“√μ√«® Õ∫´÷Ëß· ¥ß‰«â„π√“¬ß“π¢Õß

§≥–°√√¡°“√μ√«® Õ∫ª√–®”ªï·≈â«

¥—ßπ—Èπ §≥–°√√¡°“√∫√‘…—∑ ®÷ß¡’§«“¡‡ÀÁπ«à“ √–∫∫°“√§«∫§ÿ¡¿“¬„π¢Õß∫√‘…—∑ ‚¥¬√«¡Õ¬Ÿà„π√–¥—∫∑’Ëπà“æÕ„® ·≈– “¡“√∂

√â“ß§«“¡‡™◊ËÕ¡—ËπÕ¬à“ß¡’‡Àμÿº≈μàÕ§«“¡‡™◊ËÕ∂◊Õ‰¥â¢Õßß∫°“√‡ß‘π¢Õß∫√‘…—∑ ≥ «—π∑’Ë 31 ∏—π«“§¡ 2552 ´÷ËßºŸâμ√«® Õ∫∫—≠™’¢Õß

∫√‘…—∑ ‰¥âμ√«® Õ∫μ“¡¡“μ√∞“π°“√ Õ∫∫—≠™’∑’Ë√—∫√Õß∑—Ë«‰ª ·≈–· ¥ß§«“¡‡ÀÁπ«à“ß∫°“√‡ß‘π¢Õß∫√‘…—∑· ¥ß∞“π–°“√‡ß‘π·≈–

º≈°“√¥”‡π‘πß“π·≈–°√–· ‡ß‘π ¥‚¥¬∂Ÿ°μâÕßμ“¡∑’Ë§«√„π “√– ”§—≠ μ“¡À≈—°°“√∫—≠™’∑’Ë√—∫√Õß∑—Ë«‰ª

π“¬∫ÿ≠‡°’¬√μ‘ ‚™§«—≤π“ π“¬«‘‚√®πå ∏’√«—≤πå«“∑’

ª√–∏“π°√√¡°“√ °√√¡°“√ºŸâ®—¥°“√


79


Report on the Board of Directorsû Responsibility on FinancialStatements

The Board of Directors takes responsibility for the financial statements of the company and its subsidiarybeing consolidated, including other financial information shown on this annual report. The financial statements shallduly represent its financial status, performance, results, and cash flow position, in an adequate and reliable manner,in compliance with general accepted accounting principles under the Accounting Ace B.E. 2543 (2000) and requirementsof the Securities and Exchange Commission, including transparently disclosure of sufficient information in the notessection of the financial statements.

The Board of Directors also has a risk management policy and efficiently implements its internal control systemin order to protect against fraud and irregularity transaction. The companyûs assets are properly safeguarded andany related transactions, which might be the conflict of interests, are recorded accurately and be a normal andreasonable business practice price as well as being the most beneficial to the company.

The Board of Directors recognizes the importance of the company financial statements and internal controlsystem. For this respect, the Board of Directors has appointed an Audit Committee to oversee the quality of thefinancial statements and the company internal control system, including the risk management. These comments havealready been shown in the Report of the Audit Committee in this annual report.

The financial statements of the company and its subsidiary being consolidated have been verified by Ernst & YoungOffice Limited, in which the Board of Directors has supported all appropriated information and documents with the chosenaccounting policy to the auditor. The auditor has reported their examination as shown on the report of the independentauditor in this annual report.

The Board of Directors agrees that the companyûs internal control system is deemed adequate and appropriateand brings confidence in the reliability of the financial statements of the company and its subsidiary being consolidatedfor the period ending December 31, 2009 which the auditor has verified and given the opinion that the consolidated andthe companyûs financial statements present fairly in all material respects in accordance with generally accepted accountingprinciples.

(Mr. Boonkiet Chokwatana) (Mr. Viroj Theeravatvatee) Chairman Managing Director

80

§à“μÕ∫·∑π¢ÕßºŸâ Õ∫∫—≠™’

1. §à“μÕ∫·∑π®“°°“√ Õ∫∫—≠™’ (Audit Fee)∫√‘…—∑·≈–∫√‘…—∑¬àÕ¬®à“¬§à“μÕ∫·∑π°“√ Õ∫∫—≠™’„Àâ·°à

ë ∫√‘…—∑ ”π—°ß“π‡Õ‘π å∑ ·Õπ∑å ¬—ß ®”°—¥ ÷Ëß‡ªìπ ”π—°ß“πºŸâ Õ∫∫—≠™’∑’ËºŸâ Õ∫∫—≠™’ —ß°—¥ ∫ÿ§§≈À√◊Õ°‘®°“√∑’Ë‡°’Ë¬«°—∫ºŸâ Õ∫∫—≠™’

·≈– ”π—°ß“π Õ∫∫—≠™’∑’ËºŸâ Õ∫∫—≠™’ —ß°—¥ „π√Õ∫ªï∫—≠™’∑’Ëºà“π¡“ ®”π«π‡ß‘π√«¡1,140,000.-∫“∑

2. §à“∫√‘°“√Õ◊Ëπ (Non-audit Fee)∫√‘…—∑·≈–∫√‘…—∑¬àÕ¬®à“¬§à“μÕ∫·∑π¢Õßß“π∫√‘°“√Õ◊ËπÊ ‰¥â·°à °“√μ√«® Õ∫°“√ªØ‘∫—μ‘μ“¡‡ß◊ËÕπ‰¢¢Õß∫—μ√ àß‡ √‘¡°“√≈ß∑ÿπ

ë ∫√‘…—∑ ”π—°ß“π‡Õ‘π å∑ ·Õπ∑å ¬—ß ®”°—¥ ´÷Ëß‡ªìπ ”π—°ß“π Õ∫∫—≠™’∑’ËºŸâ Õ∫∫—≠™’ —ß°—¥ ∫ÿ§§≈À√◊Õ°‘®°“√∑’Ë‡°’Ë¬«°—∫

ºŸâ Õ∫∫—≠™’·≈– ”π—°ß“π Õ∫∫—≠™’¥—ß°≈à“« „π√Õ∫ªï∑’Ëºà“π¡“¡’®”π«π‡ß‘π√«¡ 100,000.- ∫“∑


81


1. Audit FeeThe company and its subsidiary paid for the auditor fee as following:ë Ernst & Young Office Limited, the companyûs audit firm to which the auditor is affiliated, persons or businesses

associated to the auditor and audit firm to which the auditor is affiliated in the 2009 accounting period, a totalamount of 1,140,000.- Baht

2. Non-audit FeeThe company and its subsidiary paid for other services namely inspections in compliance with the term stipulated bythe Board of Investment of Thailand detailed as following:ë Ernst & Young Office Limited, the companyûs audit firm to which the auditor is affiliated, persons or businesses

associated to the auditor and audit firm to which the auditor is affiliated in the 2009 accounting period, a totalamount of 100,000.- Baht.

Auditor Fees of the Auditor

82

√“¬ß“π¢ÕßºŸâ Õ∫∫—≠™’√—∫Õπÿ≠“μ

√“¬ß“π¢ÕßºŸâ Õ∫∫—≠™’√—∫Õπÿ≠“μ‡ πÕμàÕºŸâ∂◊ÕÀÿâπ¢Õß∫√‘…—∑ À‚§‡®π (™≈∫ÿ√’) ®”°—¥ (¡À“™π)

¢â“æ‡®â“‰¥âμ√«® Õ∫ß∫¥ÿ≈√«¡ ≥ «—π∑’Ë 31 ∏—π«“§¡ 2552 ·≈– 2551 ß∫°”‰√¢“¥∑ÿπ√«¡ ß∫· ¥ß°“√‡ª≈’Ë¬π·ª≈ß à«π¢Õß

ºŸâ∂◊ÕÀÿâπ√«¡·≈–ß∫°√–· ‡ß‘π ¥√«¡ ”À√—∫ªï ‘Èπ ÿ¥«—π‡¥’¬«°—π¢Õß·μà≈–ªï¢Õß∫√‘…—∑ À‚§‡®π (™≈∫ÿ√’) ®”°—¥ (¡À“™π) ·≈–∫√‘…—∑¬àÕ¬

·≈–‰¥âμ√«® Õ∫ß∫°“√‡ß‘π‡©æ“–°‘®°“√¢Õß∫√‘…—∑ À‚§‡®π (™≈∫ÿ√’) ®”°—¥ (¡À“™π) ¥â«¬‡™àπ°—π ´÷ËßºŸâ∫√‘À“√¢Õß°‘®°“√‡ªìπºŸâ√—∫

º‘¥™Õ∫μàÕ§«“¡∂Ÿ°μâÕß·≈–§√∫∂â«π¢Õß¢âÕ¡Ÿ≈„πß∫°“√‡ß‘π‡À≈à“π’È à«π¢â“æ‡®â“‡ªìπºŸâ√—∫º‘¥™Õ∫„π°“√· ¥ß§«“¡‡ÀÁπμàÕß∫°“√‡ß‘π¥—ß

°≈à“«®“°º≈°“√μ√«® Õ∫¢Õß¢â“æ‡®â“

¢â“æ‡®â“‰¥âªØ‘∫—μ‘ß“πμ√«® Õ∫μ“¡¡“μ√∞“π°“√ Õ∫∫—≠™’∑’Ë√—∫√Õß∑—Ë«‰ª ÷Ëß°”Àπ¥„Àâ¢â“æ‡®â“μâÕß«“ß·ºπ·≈–ªØ‘∫—μ‘ß“π‡æ◊ËÕ„Àâ

‰¥â§«“¡‡™◊ËÕ¡—ËπÕ¬à“ß¡’‡Àμÿº≈«à“ ß∫°“√‡ß‘π· ¥ß¢âÕ¡Ÿ≈∑’Ë¢—¥μàÕ¢âÕ‡∑Á®®√‘ßÕ—π‡ªìπ “√– ”§—≠À√◊Õ‰¡à °“√μ√«® Õ∫√«¡∂÷ß°“√„™â«‘∏’°“√

∑¥ Õ∫À≈—°∞“πª√–°Õ∫√“¬°“√∑—Èß∑’Ë‡ªìπ®”π«π‡ß‘π·≈–°“√‡ªî¥‡º¬¢âÕ¡Ÿ≈„πß∫°“√‡ß‘π °“√ª√–‡¡‘π§«“¡‡À¡“– ¡¢ÕßÀ≈—°°“√∫—≠™’

∑’Ë°‘®°“√„™â·≈–ª√–¡“≥°“√‡°’Ë¬«°—∫√“¬°“√∑“ß°“√‡ß‘π∑’Ë‡ªìπ “√– ”§—≠ ´÷ËßºŸâ∫√‘À“√‡ªìπºŸâ®—¥∑”¢÷Èπ μ≈Õ¥®π°“√ª√–‡¡‘π∂÷ß§«“¡

‡À¡“– ¡¢Õß°“√· ¥ß√“¬°“√∑’Ëπ”‡ πÕ„πß∫°“√‡ß‘π‚¥¬√«¡ ¢â“æ‡®â“‡™◊ËÕ«à“°“√μ√«® Õ∫¥—ß°≈à“«„Àâ¢âÕ √ÿª∑’Ë‡ªìπ‡°≥±åÕ¬à“ß‡À¡“– ¡

„π°“√· ¥ß§«“¡‡ÀÁπ¢Õß¢â“æ‡®â“

¢â“æ‡®â“‡ÀÁπ«à“ ß∫°“√‡ß‘π¢â“ßμâππ’È· ¥ß∞“π–°“√‡ß‘π ≥ «—π∑’Ë 31 ∏—π«“§¡ 2552 ·≈– 2551 º≈°“√¥”‡π‘πß“π·≈–°√–· ‡ß‘π ¥

”À√—∫ªï ‘Èπ ÿ¥«—π‡¥’¬«°—π¢Õß·μà≈–ªï¢Õß∫√‘…—∑ À‚§‡®π (™≈∫ÿ√’) ®”°—¥ (¡À“™π) ·≈–∫√‘…—∑¬àÕ¬ ·≈–‡©æ“–¢Õß∫√‘…—∑ À‚§‡®π

(™≈∫ÿ√’) ®”°—¥ (¡À“™π) ‚¥¬∂Ÿ°μâÕßμ“¡∑’Ë§«√„π “√– ”§—≠μ“¡À≈—°°“√∫—≠™’∑’Ë√—∫√Õß∑—Ë«‰ª

∑‘æ«—≈¬å π“π“πÿ«—≤πå

ºŸâ Õ∫∫—≠™’√—∫Õπÿ≠“μ ‡≈¢∑–‡∫’¬π 3459

∫√‘…—∑ ”π—°ß“π ‡Õ‘π å∑ ·Õπ¥å ¬—ß ®”°—¥

°√ÿß‡∑æœ: 26 °ÿ¡¿“æ—π∏å 2553


83


Report of Independent Auditor

Report of Independent AuditorTo the Shareholders of Sahacogen (Chonburi) Public Company Limited

I have audited the accompanying consolidated balance sheets of Sahacogen (Chonburi) Public CompanyLimited and its subsidiaries as at 31 December 2009 and 2008, the related consolidated statements of income, changesin shareholdersû equity and cash flows for the years then ended, and the separate financial statements of Sahacogen(Chonburi) Public Company Limited for the same periods. These financial statements are the responsibility of theCompanyûs management as to their correctness and the completeness of the presentation. My responsibility is to expressan opinion on these financial statements based on my audits.

I conducted my audits in accordance with generally accepted auditing standards. Those standards require thatI plan and perform the audit to obtain reasonable assurance about whether the financial statements are free ofmaterial misstatement. An audit includes examining, on a test basis, evidence supporting the amounts and disclosuresin the financial statements. An audit also includes assessing the accounting principles used and significant estimatesmade by management, as well as evaluating the overall financial statement presentation. I believe that my auditsprovide a reasonable basis for my opinion.

In my opinion, the financial statements referred to above present fairly, in all material respects, the financialposition of Sahacogen (Chonburi) Public Company Limited and its subsidiaries and of Sahacogen (Chonburi) PublicCompany Limited as at 31 December 2009 and 2008, the results of their operations, and cash flows for the yearsthen ended, in accordance with generally accepted accounting principles.

Thipawan NananuwatCertified Public Accountant (Thailand) No. 3459

Ernst & Young Office LimitedBangkok: 26 February 2010

84À¡“¬‡Àμÿª√–°Õ∫ß∫°“√‡ß‘π‡ªìπ à«πÀπ÷Ëß¢Õßß∫°“√‡ß‘ππ’È

ß∫¥ÿ≈

∫√‘…—∑ À‚§‡®π (™≈∫ÿ√’) ®”°—¥ (¡À“™π) ·≈–∫√‘…—∑¬àÕ¬

≥ «—π∑’Ë 31 ∏—π«“§¡ 2552 ·≈– 2551

(Àπà«¬: ∫“∑)ß∫°“√‡ß‘π√«¡ ß∫°“√‡ß‘π‡©æ“–°‘®°“√

À¡“¬‡Àμÿ 2552 2551 2552 2551

‘π∑√—æ¬å

‘π∑√—æ¬åÀ¡ÿπ‡«’¬π

‡ß‘π ¥·≈–√“¬°“√‡∑’¬∫‡∑à“‡ß‘π ¥ 93,035,299 51,865,020 52,719,281 44,184,451

‡ß‘π≈ß∑ÿπ™—Ë«§√“« - À≈—°∑√—æ¬å‡æ◊ËÕ§â“ 234,046 9,834,046 234,046 9,834,046

≈Ÿ°Àπ’È°“√§â“ 5 294,256,463 345,616,248 294,256,463 345,616,248

≈Ÿ°Àπ’È°“√§â“ - ∫√‘…—∑∑’Ë‡°’Ë¬«¢âÕß°—π 5,6 108,529,333 87,462,357 108,529,333 87,462,357

≈Ÿ°Àπ’ÈÕ◊Ëπ - ∫√‘…—∑¬àÕ¬ 6 - - 635,959 -

‡ß‘π„Àâ°Ÿâ¬◊¡√–¬– —Èπ·≈–¥Õ°‡∫’È¬§â“ß√—∫®“°∫√‘…—∑¬àÕ¬ 6 - - - 23,923,428

Õ–‰À≈à·≈–«— ¥ÿ§ß‡À≈◊Õ 138,976,683 137,622,444 133,866,343 130,974,027

‘π∑√—æ¬åÀ¡ÿπ‡«’¬πÕ◊Ëπ

§à“„™â®à“¬≈à«ßÀπâ“ 6,291,795 5,189,419 6,091,566 4,961,534

¿“…’¡Ÿ≈§à“‡æ‘Ë¡√Õ√—∫§◊π 6,489,431 11,027,075 - 10,165,190

¿“…’‡ß‘π‰¥â∂Ÿ°À—° ≥ ∑’Ë®à“¬ 6,350,097 4,646,445 6,068,910 4,638,405

√“¬‰¥â§â“ß√—∫ 8,300,000 4,300,000 8,300,000 4,300,000

Õ◊ËπÊ 1,040,892 10,074,361 - 9,922,657

√«¡ ‘π∑√—æ¬åÀ¡ÿπ‡«’¬πÕ◊Ëπ 28,472,215 35,237,300 20,460,476 33,987,786

√«¡ ‘π∑√—æ¬åÀ¡ÿπ‡«’¬π 663,504,039 667,637,415 610,701,901 675,982,343

‘π∑√—æ¬å‰¡àÀ¡ÿπ‡«’¬π

‡ß‘π≈ß∑ÿπ„π∫√‘…—∑¬àÕ¬ 7 - - 692,499,900 253,749,900

‡ß‘π≈ß∑ÿπ√–¬–¬“«Õ◊Ëπ - À≈—°∑√—æ¬å‡º◊ËÕ¢“¬ 8 8,000,000 - 8,000,000 -

∑’Ë¥‘π Õ“§“√·≈–Õÿª°√≥å - ÿ∑∏‘ 9 4,163,261,043 4,007,992,691 3,580,542,930 3,811,824,167

μâπ∑ÿπ°“√ª≈Ÿ°æ◊™æ≈—ßß“π 10 45,455,252 26,447,851 - -

‘π∑√—æ¬å‰¡àÀ¡ÿπ‡«’¬πÕ◊Ëπ 1,750,742 241,350 241,951 241,350

√«¡ ‘π∑√—æ¬å‰¡àÀ¡ÿπ‡«’¬π 4,218,467,037 4,034,681,892 4,281,284,781 4,065,815,417

√«¡ ‘π∑√—æ¬å 4,881,971,076 4,702,319,307 4,891,986,682 4,741,797,760


85


Balance sheets

Sahacogen (Chonburi) Public Company Limited and its subsidiariesAs at 31 December 2009 and 2008

(Unit: Baht)Consolidated financial Separate financial

statements statements

Note 2009 2008 2009 2008

Assets

Current assets

Cash and cash equivalents 93,035,299 51,865,020 52,719,281 44,184,451

Current investments - securities held for trading 234,046 9,834,046 234,046 9,834,046

Trade accounts receivable 5 294,256,463 345,616,248 294,256,463 345,616,248

Trade accounts receivable - related company 5,6 108,529,333 87,462,357 108,529,333 87,462,357

Other receivable - subsidiary 6 - - 635,959 -

Short-term loans to and interest receivable 6 - - - 23,923,428

from subsidiary

Spare parts and supplies 138,976,683 137,622,444 133,866,343 130,974,027

Other current assets

Prepaid expenses 6,291,795 5,189,419 6,091,566 4,961,534

Value added tax refundable 6,489,431 11,027,075 - 10,165,190

Income tax deducted at source 6,350,097 4,646,445 6,068,910 4,638,405

Accrued income 8,300,000 4,300,000 8,300,000 4,300,000

Others 1,040,892 10,074,361 - 9,922,657

Total other current assets 28,472,215 35,237,300 20,460,476 33,987,786

Total current assets 663,504,039 667,637,415 610,701,901 675,982,343

Non-current assets

Investments in subsidiaries 7 - - 692,499,900 253,749,900

Other long-term investments - available- 8 8,000,000 - 8,000,000 -

for-sale securities

Property, plant and equipment - net 9 4,163,261,043 4,007,992,691 3,580,542,930 3,811,824,167

Project cost of energy plant farming 10 45,455,252 26,447,851 - -

Other non-current assets 1,750,742 241,350 241,951 241,350

Total non-current assets 4,218,467,037 4,034,681,892 4,281,284,781 4,065,815,417

Total assets 4,881,971,076 4,702,319,307 4,891,986,682 4,741,797,760

The accompanying notes are an integral part of the financial statements.

86

ß∫¥ÿ≈ (μàÕ)

∫√‘…—∑ À‚§‡®π (™≈∫ÿ√’) ®”°—¥ (¡À“™π) ·≈–∫√‘…—∑¬àÕ¬

≥ «—π∑’Ë 31 ∏—π«“§¡ 2552 ·≈– 2551

(Àπà«¬: ∫“∑)ß∫°“√‡ß‘π√«¡ ß∫°“√‡ß‘π‡©æ“–°‘®°“√

À¡“¬‡Àμÿ 2552 2551 2552 2551

Àπ’È ‘π·≈– à«π¢ÕßºŸâ∂◊ÕÀÿâπÀπ’È ‘πÀ¡ÿπ‡«’¬π‡®â“Àπ’È°“√§â“ 157,004,512 183,686,179 157,004,512 183,686,179‡®â“Àπ’È°‘®°“√∑’Ë‡°’Ë¬«¢âÕß°—π 6 52,606,415 34,954,908 52,786,854 38,829,084‡®â“Àπ’Èß“π°àÕ √â“ß·≈–‡ß‘πª√–°—πº≈ß“π 49,383,105 3,943,883 - - à«π¢Õß‡ß‘π°Ÿâ¬◊¡√–¬–¬“«∑’Ë∂÷ß°”Àπ¥™”√–¿“¬„πÀπ÷Ëßªï 11 80,000,000 70,000,000 80,000,000 70,000,000Àπ’È ‘πÀ¡ÿπ‡«’¬πÕ◊Ëπ

§à“„™â®à“¬§â“ß®à“¬ 7,645,857 9,369,339 6,371,159 6,583,400¿“…’¡Ÿ≈§à“‡æ‘Ë¡∑’Ë¬—ß‰¡à∂÷ß°”Àπ¥™”√– 9,509,087 11,192,305 9,391,815 11,192,305¿“…’¡Ÿ≈§à“‡æ‘Ë¡√Õπ” àß 5,807,116 - 5,807,116 -‡®â“Àπ’ÈÕ◊Ëπ 3,362,802 2,250,510 2,798,743 2,250,510Õ◊ËπÊ 1,940,127 2,874,761 977,612 2,705,122

√«¡Àπ’È ‘πÀ¡ÿπ‡«’¬πÕ◊Ëπ 28,264,989 25,686,915 25,346,445 22,731,337√«¡Àπ’È ‘πÀ¡ÿπ‡«’¬π 367,259,021 318,271,885 315,137,811 315,246,600Àπ’È ‘π‰¡àÀ¡ÿπ‡«’¬π‡ß‘π°Ÿâ¬◊¡√–¬–¬“« - ÿ∑∏‘®“° à«π∑’Ë∂÷ß°”Àπ¥™”√–

¿“¬„πÀπ÷Ëßªï 11 2,527,100,000 2,517,100,000 2,527,100,000 2,517,100,000√«¡Àπ’È ‘π‰¡àÀ¡ÿπ‡«’¬π 2,527,100,000 2,517,100,000 2,527,100,000 2,517,100,000√«¡Àπ’È ‘π 2,894,359,021 2,835,371,885 2,842,237,811 2,832,346,600 à«π¢ÕßºŸâ∂◊ÕÀÿâπ∑ÿπ‡√◊ÕπÀÿâπ

∑ÿπ®¥∑–‡∫’¬π ÕÕ°®”Àπà“¬·≈–™”√–‡μÁ¡¡Ÿ≈§à“·≈â«Àÿâπ “¡—≠ 955,000,000 Àÿâπ ¡Ÿ≈§à“Àÿâπ≈– 1 ∫“∑ 955,000,000 955,000,000 955,000,000 955,000,000

à«π‡°‘π¡Ÿ≈§à“Àÿâπ 285,447,000 285,447,000 285,447,000 285,447,000º≈¢“¥∑ÿπ∑’Ë¬—ß‰¡à‡°‘¥¢÷Èπ®√‘ß

à«πμË”°«à“∑ÿπ®“°°“√‡ª≈’Ë¬π·ª≈ß¡Ÿ≈§à“‡ß‘π≈ß∑ÿπ 8 (600,000) - (600,000) -°”‰√ – ¡

®—¥ √√·≈â« - ”√Õßμ“¡°ÆÀ¡“¬ 12 95,500,000 95,500,000 95,500,000 95,500,000¬—ß‰¡à‰¥â®—¥ √√ 651,878,292 529,772,744 714,401,871 573,504,160

à«π¢ÕßºŸâ∂◊ÕÀÿâπ¢Õß∫√‘…—∑œ 1,987,225,292 1,865,719,744 2,049,748,871 1,909,451,160 à«π¢ÕßºŸâ∂◊ÕÀÿâπ à«ππâÕ¬¢Õß∫√‘…—∑¬àÕ¬ 386,763 1,227,678 - -√«¡ à«π¢ÕßºŸâ∂◊ÕÀÿâπ 1,987,612,055 1,866,947,422 2,049,748,871 1,909,451,160√«¡Àπ’È ‘π·≈– à«π¢ÕßºŸâ∂◊ÕÀÿâπ 4,881,971,076 4,702,319,307 4,891,986,682 4,741,797,760

- - - -

À¡“¬‡Àμÿª√–°Õ∫ß∫°“√‡ß‘π‡ªìπ à«πÀπ÷Ëß¢Õßß∫°“√‡ß‘ππ’È


87


Balance sheets (continued)

Sahacogen (Chonburi) Public Company Limited and its subsidiariesAs at 31 December 2009 and 2008



Note 2009 2008 2009 2008

Liabilities and shareholdersû equityCurrent liabilitiesTrade accounts payable 157,004,512 183,686,179 157,004,512 183,686,179Amount due to related parties 6 52,606,415 34,954,908 52,786,854 38,829,084Construction and retention payables 49,383,105 3,943,883 - -Current portion of long-term loans 11 80,000,000 70,000,000 80,000,000 70,000,000Other current liabilities

Accrued expenses 7,645,857 9,369,339 6,371,159 6,583,400Undue value added tax 9,509,087 11,192,305 9,391,815 11,192,305Value added tax payable 5,807,116 - 5,807,116 -Other accounts payable 3,362,802 2,250,510 2,798,743 2,250,510Others 1,940,127 2,874,761 977,612 2,705,122

Total other current liabilities 28,264,989 25,686,915 25,346,445 22,731,337Total current liabilities 367,259,021 318,271,885 315,137,811 315,246,600Non-current liabilitiesLong-term loans - net of current portion 11 2,527,100,000 2,517,100,000 2,527,100,000 2,517,100,000Total non-current liabilities 2,527,100,000 2,517,100,000 2,527,100,000 2,517,100,000Total liabilities 2,894,359,021 2,835,371,885 2,842,237,811 2,832,346,600Shareholdersû equityShare capital

Registered, issued and fully paid955,000,000 ordinary shares of Baht 1 each 955,000,000 955,000,000 955,000,000 955,000,000

Share premium 285,447,000 285,447,000 285,447,000 285,447,000Unrealised loss

Revaluation deficit on changes in value 8 (600,000) - (600,000) -of investments

Retained earningsAppropriated - statutory reserve 12 95,500,000 95,500,000 95,500,000 95,500,000Unappropriated 651,878,292 529,772,744 714,401,871 573,504,160

Equity attributable to the companyûs shareholders 1,987,225,292 1,865,719,744 2,049,748,871 1,909,451,160Minority interest - equity attributable

to minority shareholders of subsidiary 386,763 1,227,678 - -Total shareholdersû equity 1,987,612,055 1,866,947,422 2,049,748,871 1,909,451,160Total liabilities and shareholdersû equity 4,881,971,076 4,702,319,307 4,891,986,682 4,741,797,760

- - - -The accompanying notes are an integral part of the financial statements.

88

ß∫°”‰√¢“¥∑ÿπ

∫√‘…—∑ À‚§‡®π (™≈∫ÿ√’) ®”°—¥ (¡À“™π) ·≈–∫√‘…—∑¬àÕ¬

”À√—∫ªï ‘Èπ ÿ¥«—π∑’Ë 31 ∏—π«“§¡ 2552 ·≈– 2551

(Àπà«¬: ∫“∑)ß∫°“√‡ß‘π√«¡ ß∫°“√‡ß‘π‡©æ“–°‘®°“√

À¡“¬‡Àμÿ 2552 2551 2552 2551

√“¬‰¥â

√“¬‰¥â®“°°“√¢“¬ 3,041,864,211 3,048,741,809 3,041,864,211 3,048,741,809

√“¬‰¥âÕ◊Ëπ

¥Õ°‡∫’È¬√—∫ 683,211 1,356,109 1,499,059 1,647,155

Õ◊ËπÊ 3,770,074 11,027,637 1,766,438 7,811,313

√«¡√“¬‰¥â 3,046,317,496 3,061,125,555 3,045,129,708 3,058,200,277

§à“„™â®à“¬

μâπ∑ÿπ¢“¬ 2,523,010,972 2,528,898,372 2,523,010,972 2,528,898,372

§à“„™â®à“¬„π°“√∫√‘À“√ 103,578,955 115,064,029 84,476,692 88,357,479

§à“μÕ∫·∑πºŸâ∫√‘À“√ 24,046,217 21,860,420 22,264,737 20,768,420

√«¡§à“„™â®à“¬ 2,650,636,144 2,665,822,821 2,629,752,401 2,638,024,271

°”‰√°àÕπ§à“„™â®à“¬∑“ß°“√‡ß‘π·≈–¿“…’‡ß‘π‰¥âπ‘μ‘∫ÿ§§≈ 395,681,352 395,302,734 415,377,307 420,176,006

§à“„™â®à“¬∑“ß°“√‡ß‘π (113,644,973) (121,171,819) (113,707,850) (121,171,819)

°”‰√°àÕπ¿“…’‡ß‘π‰¥âπ‘μ‘∫ÿ§§≈ 282,036,379 274,130,915 301,669,457 299,004,187

¿“…’‡ß‘π‰¥âπ‘μ‘∫ÿ§§≈ 14 (17,521,746) (13,009,233) (17,521,746) (13,009,233)

°”‰√ ÿ∑∏‘ ”À√—∫ªï 264,514,633 261,121,682 284,147,711 285,994,954

°“√·∫àßªíπ°”‰√ ÿ∑∏‘

à«π∑’Ë‡ªìπ¢ÕßºŸâ∂◊ÕÀÿâπ∫√‘…—∑„À≠à 265,355,548 261,144,004 284,147,711 285,994,954

à«π∑’Ë‡ªìπ¢ÕßºŸâ∂◊ÕÀÿâπ à«ππâÕ¬¢Õß∫√‘…—∑¬àÕ¬ (840,915) (22,322)

264,514,633 261,121,682

°”‰√μàÕÀÿâπ 16

°”‰√μàÕÀÿâπ¢—Èπæ◊Èπ∞“π

°”‰√ ÿ∑∏‘ à«π∑’Ë‡ªìπ¢ÕßºŸâ∂◊ÕÀÿâπ∫√‘…—∑„À≠à 0.28 0.27 0.30 0.30



89


Sahacogen (Chonburi) Public Company Limited and its subsidiariesFor the years ended 31 December 2009 and 2008



Note 2009 2008 2009 2008

Revenues

Sales 3,041,864,211 3,048,741,809 3,041,864,211 3,048,741,809

Other income

Interest income 683,211 1,356,109 1,499,059 1,647,155

Others 3,770,074 11,027,637 1,766,438 7,811,313

Total revenues 3,046,317,496 3,061,125,555 3,045,129,708 3,058,200,277

Expenses

Cost of sales 2,523,010,972 2,528,898,372 2,523,010,972 2,528,898,372

Administrative expenses 103,578,955 115,064,029 84,476,692 88,357,479

Management benefit expenses 24,046,217 21,860,420 22,264,737 20,768,420

Total expenses 2,650,636,144 2,665,822,821 2,629,752,401 2,638,024,271

Income before finance cost

and corporate income tax 395,681,352 395,302,734 415,377,307 420,176,006

Finance cost (113,644,973) (121,171,819) (113,707,850) (121,171,819)

Income before corporate income tax 282,036,379 274,130,915 301,669,457 299,004,187

Corporate income tax 14 (17,521,746) (13,009,233) (17,521,746) (13,009,233)

Net income for the year 264,514,633 261,121,682 284,147,711 285,994,954

Net income attributable to:

Equity holders of the parent 265,355,548 261,144,004 284,147,711 285,994,954

Minority interests of the subsidiary (840,915) (22,322)

264,514,633 261,121,682

Earnings per share 16

Basic earnings per share

Net income attributable to equity holders of the parent 0.28 0.27 0.30 0.30


Income statements


ß∫°√–· ‡ß‘π ¥

∫√‘…—∑ À‚§‡®π (™≈∫ÿ√’) ®”°—¥ (¡À“™π) ·≈–∫√‘…—∑¬àÕ¬

”À√—∫ªï ‘Èπ ÿ¥«—π∑’Ë 31 ∏—π«“§¡ 2552 ·≈– 2551

(Àπà«¬: ∫“∑)ß∫°“√‡ß‘π√«¡ ß∫°“√‡ß‘π‡©æ“–°‘®°“√

2552 2551 2552 2551

°√–· ‡ß‘π ¥®“° („™â‰ª„π) °‘®°√√¡¥”‡π‘πß“π

°”‰√ ÿ∑∏‘°àÕπ¿“…’‡ß‘π‰¥âπ‘μ‘∫ÿ§§≈ 282,036,379 274,130,915 301,669,457 299,004,187

√“¬°“√ª√—∫°√–∑∫¬Õ¥°”‰√ ÿ∑∏‘°àÕπ¿“…’‡ªìπ‡ß‘π ¥√—∫ (®à“¬)

®“°°‘®°√√¡¥”‡π‘πß“π

¢“¥∑ÿπ(°”‰√)®“°°“√®”Àπà“¬Õÿª°√≥å (539) 29,186 (539) 27,756

¢“¥∑ÿπ®“°°“√μ—¥®”Àπà“¬μâπ∑ÿπ°“√ª≈Ÿ°æ◊™æ≈—ßß“π - 1,980,985 - -

§à“‡ ◊ËÕ¡√“§“ 263,347,454 251,602,096 257,057,527 246,912,067

¢“¥∑ÿπ(°”‰√)∑’Ë¬—ß‰¡à‡°‘¥¢÷Èπ®“°°“√‡ª≈’Ë¬π·ª≈ß¡Ÿ≈§à“¢ÕßÀ≈—°∑√—æ¬å 1,000,000 (1,300,000) 1,000,000 (1,300,000)

§à“„™â®à“¬¥Õ°‡∫’È¬ 113,644,973 121,171,819 113,707,850 121,171,819

°”‰√®“°°“√¥”‡π‘πß“π°àÕπ°“√‡ª≈’Ë¬π·ª≈ß„π ‘π∑√—æ¬å·≈–

Àπ’È ‘π¥”‡π‘πß“π 660,028,267 647,615,001 673,434,295 665,815,829

‘π∑√—æ¬å¥”‡π‘πß“π (‡æ‘Ë¡¢÷Èπ) ≈¥≈ß

À≈—°∑√—æ¬å‡æ◊ËÕ§â“ - (7,970,461) - (7,970,461)

≈Ÿ°Àπ’È°“√§â“ 51,359,785 (67,386,797) 51,359,785 (67,386,797)

≈Ÿ°Àπ’È°“√§â“ - ∫√‘…—∑∑’Ë‡°’Ë¬«¢âÕß°—π (21,066,976) 8,597,576 (21,066,976) 8,597,576

≈Ÿ°Àπ’ÈÕ◊Ëπ - ∫√‘…—∑¬àÕ¬ - - (635,959) -

Õ–‰À≈à·≈–«— ¥ÿ§ß‡À≈◊Õ (1,354,239) (5,906,196) (2,892,316) (1,020,523)

‘π∑√—æ¬åÀ¡ÿπ‡«’¬πÕ◊Ëπ 8,468,736 (17,903,470) 14,957,814 (16,894,816)

‘π∑√—æ¬å‰¡àÀ¡ÿπ‡«’¬πÕ◊Ëπ (1,509,392) 1,663,223 (601) 1,663,223

Àπ’È ‘π¥”‡π‘πß“π‡æ‘Ë¡¢÷Èπ (≈¥≈ß)

‡®â“Àπ’È°“√§â“ (26,681,667) (116,162,101) (26,681,667) (116,162,101)

‡®â“Àπ’È°‘®°“√∑’Ë‡°’Ë¬«¢âÕß°—π 17,651,507 855,145 13,957,770 8,202,402

‡®â“Àπ’Èß“π°àÕ √â“ß·≈–‡ß‘πª√–°—πº≈ß“π 45,439,222 2,401,153 - -

Àπ’È ‘πÀ¡ÿπ‡«’¬πÕ◊Ëπ 2,578,074 (1,273,249) 2,615,108 (2,228,666)

‡ß‘π ¥®“°°‘®°√√¡¥”‡π‘πß“π 734,913,317 444,529,824 705,047,253 472,615,666

®à“¬¥Õ°‡∫’È¬ (113,644,973) (121,171,819) (113,707,850) (121,171,819)

®à“¬¿“…’‡ß‘π‰¥âπ‘μ‘∫ÿ§§≈ (19,225,397) (26,080,306) (18,952,250) (26,079,482)

‡ß‘π ¥ ÿ∑∏‘®“°°‘®°√√¡¥”‡π‘πß“π 602,042,947 297,277,699 572,387,153 325,364,365


91


Statements of cash flows


(Unit: Baht)Consolidated financials Separate financial

statement statements

2009 2008 2009 2008

Cash flows from (used in) operating activities

Net income before corporate income tax 282,036,379 274,130,915 301,669,457 299,004,187

Adjustment to reconcile net income before tax to

net cash provided by (paid from) operating activities

Losses (gains) on disposal of equipment (539) 29,186 (539) 27,756

Loss on written off project cost of energy plant farming - 1,980,985 - -

Depreciation 263,347,454 251,602,096 257,057,527 246,912,067

Unrealised loss (gain) on change in value of securities 1,000,000 (1,300,000) 1,000,000 (1,300,000)

Interest expenses 113,644,973 121,171,819 113,707,850 121,171,819

Income from operating activities before changes in

operating assets and liabilities 660,028,267 647,615,001 673,434,295 665,815,829

Operating assets (increase) decrease

Securities held for trading - (7,970,461) - (7,970,461)

Trade accounts receivable 51,359,785 (67,386,797) 51,359,785 (67,386,797)

Trade accounts receivable - related company (21,066,976) 8,597,576 (21,066,976) 8,597,576

Other receivable - subsidiary - - (635,959) -

Spare parts and supplies (1,354,239) (5,906,196) (2,892,316) (1,020,523)

Other current assets 8,468,736 (17,903,470) 14,957,814 (16,894,816)

Other non-current assets (1,509,392) 1,663,223 (601) 1,663,223

Operating liabilities increase (decrease)

Trade accounts payable (26,681,667) (116,162,101) (26,681,667) (116,162,101)

Amount due to related parties 17,651,507 855,145 13,957,770 8,202,402

Construction and retention payables 45,439,222 2,401,153 - -

Other current liabilities 2,578,074 (1,273,249) 2,615,108 (2,228,666)

Cash flows from operating activities 734,913,317 444,529,824 705,047,253 472,615,666

Cash paid for interest expenses (113,644,973) (121,171,819) (113,707,850) (121,171,819)

Cash paid for corporate income tax (19,225,397) (26,080,306) (18,952,250) (26,079,482)

Net cash flows from operating activities 602,042,947 297,277,699 572,387,153 325,364,365



∫√‘…—∑ À‚§‡®π (™≈∫ÿ√’) ®”°—¥ (¡À“™π) ·≈–∫√‘…—∑¬àÕ¬

”À√—∫ªï ‘Èπ ÿ¥«—π∑’Ë 31 ∏—π«“§¡ 2552 ·≈– 2551

(Àπà«¬: ∫“∑)ß∫°“√‡ß‘π√«¡ ß∫°“√‡ß‘π‡©æ“–°‘®°“√

2552 2551 2552 2551

°√–· ‡ß‘π ¥®“° („™â‰ª„π) °‘®°√√¡≈ß∑ÿπ

≈ß∑ÿπ„πμâπ∑ÿπ°“√ª≈Ÿ°æ◊™æ≈—ßß“π (19,007,401) (4,789,768) - -

‡ß‘π„Àâ°Ÿâ¬◊¡√–¬– —Èπ·≈–¥Õ°‡∫’È¬§â“ß√—∫®“°∫√‘…—∑¬àÕ¬(‡æ‘Ë¡¢÷Èπ)≈¥≈ß - - 23,923,428 (23,923,428)

≈ß∑ÿπ„π∫√‘…—∑¬àÕ¬ - - (438,750,000) (3,749,970)

‡ß‘π ¥√—∫®“°°“√®”Àπà“¬Õÿª°√≥å 13,072 10,735 13,072 4,735

´◊ÈÕ∑’Ë¥‘π Õ“§“√·≈–Õÿª°√≥å (418,628,339) (170,054,188) (25,788,823) (136,414,211)

‡ß‘π ¥ ÿ∑∏‘„™â‰ª„π°‘®°√√¡≈ß∑ÿπ (437,622,668) (174,833,221) (440,602,323) (164,082,874)

°√–· ‡ß‘π ¥®“° („™â‰ª„π) °‘®°√√¡®—¥À“‡ß‘π

‡ß‘π ¥√—∫®“°‡ß‘π°Ÿâ¬◊¡√–¬–¬“« 90,000,000 - 90,000,000 -

®à“¬§◊π‡ß‘π°Ÿâ¬◊¡√–¬–¬“« (70,000,000) (70,000,000) (70,000,000) (70,000,000)

‡ß‘πªíπº≈®à“¬ (143,250,000) (286,500,000) (143,250,000) (286,500,000)

√—∫‡ß‘π≈ß∑ÿπ„πÀÿâπ®“°ºŸâ∂◊ÕÀÿâπ à«ππâÕ¬¢Õß∫√‘…—∑¬àÕ¬ - 1,250,000 - -

‡ß‘π ¥ ÿ∑∏‘„™â‰ª„π°‘®°√√¡®—¥À“‡ß‘π (123,250,000) (355,250,000) (123,250,000) (356,500,000)

‡ß‘π ¥·≈–√“¬°“√‡∑’¬∫‡∑à“‡ß‘π ¥‡æ‘Ë¡¢÷Èπ (≈¥≈ß) ÿ∑∏‘ 41,170,279 (232,805,522) 8,534,830 (195,218,509)

‡ß‘π ¥·≈–√“¬°“√‡∑’¬∫‡∑à“‡ß‘π ¥μâπªï 51,865,020 284,670,542 44,184,451 239,402,960

‡ß‘π ¥·≈–√“¬°“√‡∑’¬∫‡∑à“‡ß‘π ¥ª≈“¬ªï 93,035,299 51,865,020 52,719,281 44,184,451

- - - -

ß∫°√–· ‡ß‘π ¥ (μàÕ)


93


Statements of cash flows (continued)




2009 2008 2009 2008

Cash flows from (used in) investing activities

Investment in project cost of energy plant farming (19,007,401) (4,789,768) - -

(Increase) decrease in short-term loans to and

interest receivable from subsidiary - - 23,923,428 (23,923,428)

Investment in subsidiaries - - (438,750,000) (3,749,970)

Cash received from sales of equipment 13,072 10,735 13,072 4,735

Acquisition of property, plant and equipment (418,628,339) (170,054,188) (25,788,823) (136,414,211)

Net cash flows used in investing activities (437,622,668) (174,833,221) (440,602,323) (164,082,874)

Cash flows from (used in) financing activities

Cash received from long-term loans 90,000,000 - 90,000,000 -

Repayment of long-term loans (70,000,000) (70,000,000) (70,000,000) (70,000,000)

Dividend paid (143,250,000) (286,500,000) (143,250,000) (286,500,000)

Receipt of share capital from minority shareholders of subsidiary - 1,250,000 - -

Net cash flows used in financing activities (123,250,000) (355,250,000) (123,250,000) (356,500,000)

Net increase (decrease) in cash and cash equivalents 41,170,279 (232,805,522) 8,534,830 (195,218,509)

Cash and cash equivalents at beginning of year 51,865,020 284,670,542 44,184,451 239,402,960

Cash and cash equivalents at end of year 93,035,299 51,865,020 52,719,281 44,184,451

- - - -


94

ß∫· ¥ß°“√‡ª≈’Ë¬π·ª≈ß à«π¢ÕßºŸâ∂◊ÕÀÿâπ


∫√‘…—∑ À‚§‡®π (™≈∫ÿ√’) ®”°—¥ (¡À“™π) ·≈–∫√‘…—∑¬àÕ¬

”À√—∫ªï ‘Èπ ÿ¥«—π∑’Ë 31 ∏—π«“§¡ 2552 ·≈– 2551

(Àπà«¬: ∫“∑)ß∫°“√‡ß‘π√«¡

à«π¢ÕßºŸâ∂◊ÕÀÿâπ∫√‘…—∑„À≠à

∑ÿπ‡√◊ÕπÀÿâπ º≈¢“¥∑ÿπ √«¡ à«π¢Õß à«π¢ÕßºŸâ∂◊ÕÀÿâπ

∑’ËÕÕ° à«π‡°‘π ∑’Ë¬—ß °”‰√ – ¡ ºŸâ∂◊ÕÀÿâπ à«ππâÕ¬¢Õß

·≈–™”√–·≈â« ¡Ÿ≈§à“Àÿâπ ‰¡à‡°‘¥¢÷Èπ®√‘ß ®—¥ √√·≈â« ¬—ß‰¡à‰¥â®—¥ √√ ∫√‘…—∑„À≠à ∫√‘…—∑¬àÕ¬ √«¡

¬Õ¥§ß‡À≈◊Õ 955,000,000 285,447,000 - 95,500,000 555,128,740 1,891,075,740 - 1,891,075,740

≥ «—π∑’Ë 31 ∏—π«“§¡ 2550

°”‰√ ÿ∑∏‘ ”À√—∫ªï - - - - 261,144,004 261,144,004 (22,322) 261,121,682

‡ß‘πªíπº≈®à“¬ (À¡“¬‡Àμÿ 19) - - - - (286,500,000) (286,500,000) - (286,500,000)

à«π¢ÕßºŸâ∂◊ÕÀÿâπ à«ππâÕ¬ - - - - - - 1,250,000 1,250,000

¢Õß∫√‘…—∑¬àÕ¬

¬Õ¥§ß‡À≈◊Õ 955,000,000 285,447,000 - 95,500,000 529,772,744 1,865,719,744 1,227,678 1,866,947,422

≥ «—π∑’Ë 31 ∏—π«“§¡ 2551

º≈¢“¥∑ÿπ®“°°“√‡ª≈’Ë¬π·ª≈ß - - (600,000) - - (600,000) - (600,000)

¡Ÿ≈§à“‡ß‘π≈ß∑ÿπ„πÀ≈—°∑√—æ¬å

‡º◊ËÕ¢“¬∑’Ë√—∫√Ÿâ„π à«π¢Õß

ºŸâ∂◊ÕÀÿâπ

°”‰√ ÿ∑∏‘ ”À√—∫ªï - - - - 265,355,548 265,355,548 (840,915) 264,514,633

‡ß‘πªíπº≈®à“¬ (À¡“¬‡Àμÿ 19) - - - - (143,250,000) (143,250,000) - (143,250,000)

¬Õ¥§ß‡À≈◊Õ 955,000,000 285,447,000 (600,000) 95,500,000 651,878,292 1,987,225,292 386,763 1,987,612,055

≥ «—π∑’Ë 31 ∏—π«“§¡ 2552

-


95



(Unit: Baht)Consolidated financial statements

Equity attributable to the parentûs shareholdersMinority

interest-equity

Total equity attributable

Issued and attributable to to minority

paid-up Share Unrealised Retained earnings the parentûs shareholders

share capital premium loss Appropriated Unappropriated shareholders of subsidiary Total

Balance as at 955,000,000 285,447,000 - 95,500,000 555,128,740 1,891,075,740 - 1,891,075,740

31 December 2007

Net income for the year - - - - 261,144,004 261,144,004 (22,322) 261,121,682

Dividend paid (Note 19) - - - - (286,500,000) (286,500,000) - (286,500,000)

Minority interest - equity - - - - - - 1,250,000 1,250,000

attributable to minority

shareholders of subsidiary

Balance as at 955,000,000 285,447,000 - 95,500,000 529,772,744 1,865,719,744 1,227,678 1,866,947,422

31 December 2008

Loss from changes in value - - (600,000) - - (600,000) - (600,000)

of investments in available-

for-sale securities recognised

in shareholdersû equity

Net income for the year - - - - 265,355,548 265,355,548 (840,915) 264,514,633

Dividend paid (Note 19) - - - - (143,250,000) (143,250,000) - (143,250,000)

Balance as at 955,000,000 285,447,000 (600,000) 95,500,000 651,878,292 1,987,225,292 386,763 1,987,612,055

31 December 2009

Statements of changes in shareholdersû equity


96

∫√‘…—∑ À‚§‡®π (™≈∫ÿ√’) ®”°—¥ (¡À“™π) ·≈–∫√‘…—∑¬àÕ¬

”À√—∫ªï ‘Èπ ÿ¥«—π∑’Ë 31 ∏—π«“§¡ 2552 ·≈– 2551

(Àπà«¬: ∫“∑)ß∫°“√‡ß‘π√«¡

∑ÿπ‡√◊ÕπÀÿâπ º≈¢“¥∑ÿπ

∑’ËÕÕ° à«π‡°‘π ∑’Ë¬—ß °”‰√ – ¡

·≈–™”√–·≈â« ¡Ÿ≈§à“Àÿâπ ‰¡à‡°‘¥¢÷Èπ®√‘ß ®—¥ √√·≈â« ¬—ß‰¡à‰¥â®—¥ √√ √«¡

¬Õ¥§ß‡À≈◊Õ ≥ «—π∑’Ë 31 ∏—π«“§¡ 2550 955,000,000 285,447,000 - 95,500,000 574,009,206 1,909,956,206

°”‰√ ÿ∑∏‘ ”À√—∫ªï - - - - 285,994,954 285,994,954

‡ß‘πªíπº≈®à“¬ (À¡“¬‡Àμÿ 19) - - - - (286,500,000) (286,500,000)

¬Õ¥§ß‡À≈◊Õ ≥ «—π∑’Ë 31 ∏—π«“§¡ 2551 955,000,000 285,447,000 - 95,500,000 573,504,160 1,909,451,160

º≈¢“¥∑ÿπ®“°°“√‡ª≈’Ë¬π·ª≈ß¡Ÿ≈§à“‡ß‘π≈ß∑ÿπ

„πÀ≈—°∑√—æ¬å‡º◊ËÕ¢“¬∑’Ë√—∫√Ÿâ „π à«π¢ÕßºŸâ∂◊ÕÀÿâπ - - (600,000) - - (600,000)

°”‰√ ÿ∑∏‘ ”À√—∫ªï - - - - 284,147,711 284,147,711

‡ß‘πªíπº≈®à“¬ (À¡“¬‡Àμÿ 19) - - - - (143,250,000) (143,250,000)

¬Õ¥§ß‡À≈◊Õ ≥ «—π∑’Ë 31 ∏—π«“§¡ 2552 955,000,000 285,447,000 (600,000) 95,500,000 714,401,871 2,049,748,871

-

ß∫· ¥ß°“√‡ª≈’Ë¬π·ª≈ß à«π¢ÕßºŸâ∂◊ÕÀÿâπ (μàÕ)



97



(Unit: Baht)Separate financial statements

Issued and

paid-up Share Unrealised Retained earnings

share capital premium loss Appropriated Unappropriated Total

Balance as at 31 December 2007 955,000,000 285,447,000 - 95,500,000 574,009,206 1,909,956,206

Net income for the year - - - - 285,994,954 285,994,954

Dividend paid (Note 19) - - - - (286,500,000) (286,500,000)

Balance as at 31 December 2008 955,000,000 285,447,000 - 95,500,000 573,504,160 1,909,451,160

Loss from changes in value of investments - - (600,000) - - (600,000)

in available-for-sale securities recognised in

shareholdersû equity

Net income for the year - - - - 284,147,711 284,147,711

Dividend paid (Note 19) - - - - (143,250,000) (143,250,000)

Balance as at 31 December 2009 955,000,000 285,447,000 (600,000) 95,500,000 714,401,871 2,049,748,871

-

Statements of changes in shareholders’ equity


98

∫√‘…—∑ À‚§‡®π (™≈∫ÿ√’) ®”°—¥ (¡À“™π) ·≈–∫√‘…—∑¬àÕ¬

”À√—∫ªï ‘Èπ ÿ¥«—π∑’Ë 31 ∏—π«“§¡ 2552 ·≈– 2551

1. ¢âÕ¡Ÿ≈∑—Ë«‰ª∫√‘…—∑ À‚§‡®π (™≈∫ÿ√’) ®”°—¥ (¡À“™π) (ç∫√‘…—∑œé) ®—¥μ—Èß¢÷Èπ‡ªìπ∫√‘…—∑¡À“™π·≈–¡’¿Ÿ¡‘≈”‡π“„πª√–‡∑»‰∑¬ ∏ÿ√°‘®À≈—°¢Õß

∫√‘…—∑œ §◊Õ°“√º≈‘μ·≈–®”Àπà“¬æ≈—ßß“π‰øøÑ“·≈–‰ÕπÈ”‡æ◊ËÕÕÿμ “À°√√¡ ‚¥¬¡’∑’ËÕ¬Ÿàμ“¡∑’Ë®¥∑–‡∫’¬πÕ¬Ÿà∑’Ë‡≈¢∑’Ë 636 À¡Ÿà 11

∂ππ ÿ¢“¿‘∫“≈ 8 μ”∫≈ÀπÕß¢“¡ Õ”‡¿Õ»√’√“™“ ®—ßÀ«—¥™≈∫ÿ√’

2. ‡°≥±å„π°“√®—¥∑”ß∫°“√‡ß‘π2.1 ß∫°“√‡ß‘ππ’È®—¥∑”¢÷Èπμ“¡¡“μ√∞“π°“√∫—≠™’∑’Ë°”Àπ¥„πæ√–√“™∫—≠≠—μ‘«‘™“™’æ∫—≠™’ æ.». 2547 ·≈–°“√· ¥ß√“¬°“√

„πß∫°“√‡ß‘π‰¥â∑”¢÷Èπ‡æ◊ËÕ„Àâ‡ªìπ‰ªμ“¡¢âÕ°”Àπ¥„πª√–°“»°√¡æ—≤π“∏ÿ√°‘®°“√§â“≈ß«—π∑’Ë 30 ¡°√“§¡ 2552 ÕÕ°μ“¡

§«“¡„πæ√–√“™∫—≠≠—μ‘°“√∫—≠™’ æ.». 2543

ß∫°“√‡ß‘π©∫—∫¿“…“‰∑¬‡ªìπß∫°“√‡ß‘π©∫—∫∑’Ë∫√‘…—∑œ „™â‡ªìπ∑“ß°“√μ“¡°ÆÀ¡“¬ ß∫°“√‡ß‘π©∫—∫¿“…“Õ—ß°ƒ…·ª≈®“°

ß∫°“√‡ß‘π©∫—∫¿“…“‰∑¬¥—ß°≈à“«

ß∫°“√‡ß‘ππ’È ‰¥â®—¥∑”¢÷Èπ‚¥¬„™â‡°≥±å√“§“∑ÿπ‡¥‘¡‡«âπ·μà®–‰¥â‡ªî¥‡º¬‡ªìπÕ¬à“ßÕ◊Ëπ„ππ‚¬∫“¬°“√∫—≠™’

2.2 ‡°≥±å„π°“√®—¥∑”ß∫°“√‡ß‘π√«¡

°) ß∫°“√‡ß‘π√«¡π’È ‰¥â®—¥∑”¢÷Èπ‚¥¬√«¡ß∫°“√‡ß‘π¢Õß∫√‘…—∑ À‚§‡®π (™≈∫ÿ√’) ®”°—¥ (¡À“™π) ( ÷ËßμàÕ‰ªπ’È‡√’¬°«à“

ç∫√‘…—∑œé) ·≈–∫√‘…—∑¬àÕ¬ (´÷ËßμàÕ‰ªπ’È‡√’¬°«à“ ç∫√‘…—∑¬àÕ¬é) ¥—ßμàÕ‰ªπ’È

√âÕ¬≈–¢Õß ‘π∑√—æ¬å √âÕ¬≈–¢Õß√“¬‰¥â

∑’Ë√«¡Õ¬Ÿà„π ∑’Ë√«¡Õ¬Ÿà„π√“¬‰¥â√«¡

®—¥μ—Èß¢÷Èπ„π Õ—μ√“√âÕ¬≈– ‘π∑√—æ¬å√«¡ ”À√—∫ªï ‘Èπ ÿ¥

™◊ËÕ∫√‘…—∑ ≈—°…≥–∏ÿ√°‘® ª√–‡∑» ¢Õß°“√∂◊ÕÀÿâπ ≥ «—π∑’Ë 31 ∏—π«“§¡ «—π∑’Ë 31 ∏—π«“§¡

2552 2551 2552 2551 2552 2551

√âÕ¬≈– √âÕ¬≈– √âÕ¬≈– √âÕ¬≈– √âÕ¬≈– √âÕ¬≈–

∫√‘…—∑ À‚§‡®π °√’π ®”°—¥ º≈‘μ·≈–®”Àπà“¬æ≈—ßß“π ‰∑¬ 100.00 100.00 13.96 5.10 0.11 0.11

‰øøÑ“·≈–‰ÕπÈ”‡æ◊ËÕÕÿμ “À°√√¡

(¬—ß‰¡à‰¥â‡√‘Ë¡ª√–°Õ∫°‘®°“√)

∫√‘…—∑ À°√’π øÕ‡√ ∑å ®”°—¥ º≈‘μ·≈–®”Àπà“¬æ≈—ßß“π ‰∑¬ 75.00 75.00 0.04 0.11 - -

‰øøÑ“·≈–‰ÕπÈ”‡æ◊ËÕÕÿμ “À°√√¡

(¬—ß‰¡à‰¥â‡√‘Ë¡ª√–°Õ∫°‘®°“√)

¢) ∫√‘…—∑œπ”ß∫°“√‡ß‘π¢Õß∫√‘…—∑¬àÕ¬¡“√«¡„π°“√®—¥∑”ß∫°“√‡ß‘π√«¡μ—Èß·μà«—π∑’Ë‰¥â¡“ («—π∑’Ë∫√‘…—∑œ¡’Õ”π“®„π°“√

§«∫§ÿ¡∫√‘…—∑¬àÕ¬) ®π∂÷ß«—π∑’Ë∫√‘…—∑œ ‘Èπ ÿ¥°“√§«∫§ÿ¡∫√‘…—∑¬àÕ¬π—Èπ

§) ß∫°“√‡ß‘π¢Õß∫√‘…—∑¬àÕ¬‰¥â®—¥∑”¢÷Èπ‚¥¬¡’√Õ∫√–¬–‡«≈“∫—≠™’·≈–„™âπ‚¬∫“¬°“√∫—≠™’∑’Ë ”§—≠‡™àπ‡¥’¬«°—π°—∫¢Õß∫√‘…—∑œ

ß) ¬Õ¥§ß§â“ß√–À«à“ß∫√‘…—∑œ ·≈–∫√‘…—∑¬àÕ¬ √“¬°“√§â“√–À«à“ß°—π∑’Ë¡’ “√– ”§—≠‰¥âμ—¥ÕÕ°®“°ß∫°“√‡ß‘π√«¡π’È·≈â«

®) à«π¢ÕßºŸâ∂◊ÕÀÿâπ à«ππâÕ¬ §◊Õ ®”π«π°”‰√À√◊Õ¢“¥∑ÿπ·≈– ‘π∑√—æ¬å ÿ∑∏‘¢Õß∫√‘…—∑¬àÕ¬ à«π∑’Ë‰¡à‰¥â‡ªìπ¢Õß∫√‘…—∑œ ·≈–

· ¥ß‡ªìπ√“¬°“√·¬°μà“ßÀ“°„πß∫°”‰√¢“¥∑ÿπ√«¡·≈– à«π¢ÕßºŸâ∂◊ÕÀÿâπ„πß∫¥ÿ≈√«¡

2.3 ∫√‘…—∑œ ‰¥â®—¥∑”ß∫°“√‡ß‘π‡©æ“–°‘®°“√‡æ◊ËÕª√–‚¬™πåμàÕ “∏“√≥– ´÷Ëß· ¥ß‡ß‘π≈ß∑ÿπ„π∫√‘…—∑¬àÕ¬μ“¡«‘∏’√“§“∑ÿπ

À¡“¬‡Àμÿª√–°Õ∫ß∫°“√‡ß‘π√«¡


99



1. General informationSahacogen (Chonburi) Public Company Limited (çthe Companyé) is a public company incorporated and domiciledin Thailand. The Company is principally engaged in the production and distribution of electricity and steam andits registered address is No. 636 Moo 11, Sukaphiban 8 Road, Nongkarm, Sriracha, Chonburi.

2. Basis of preparation2.1 The financial statements have been prepared in accordance with accounting standards enunciated under

the Accounting Professions Act B.E. 2547 and their presentation has been made in compliance with thestipulations of the Notification of the Department of Business Development dated 30 January 2009, issuedunder the Accounting Act B.E. 2543.

The financial statements in Thai language are the official statutory financial statements of the Company.The financial statements in English language have been translated from the Thai language financial statements.

The financial statements have been prepared on a historical cost basis except where otherwise disclosed inthe accounting policies.

2.2 Basis of consolidationa) The consolidated financial statements include the financial statements of Sahacogen (Chonburi) Public

Company Limited (çthe Companyé) and the following subsidiary companies (çthe subsidiariesé):

Revenues as aAssets as a percentage

percentage to to the consolidatedCountry the consolidated total revenues

of Percentage of total assets as at for the yearCompanyûs name Nature of business incorporation shareholding 31 December ended 31 December

2009 2008 2009 2008 2009 2008PercentPercent Percent Percent Percent Percent

Sahacogen Green Production and distribution Thailand 100.00 100.00 13.96 5.10 0.11 0.11Company Limited of electricity and steam (not

commencing its operations)Sahagreen Forest Production and distribution Thailand 75.00 75.00 0.04 0.11 - -Company Limited of electricity and steam (not

commencing its operations)

b) Subsidiaries are fully consolidated as from the date of acquisition, being the date on which the Companyobtains control, and continue to be consolidated until the date when such control ceases.

c) The financial statements of the subsidiaries are prepared for the same reporting period as the parentcompany, using consistent significant accounting policies.

d) Material balances and transactions between the Company and its subsidiaries have been eliminatedfrom the consolidated financial statements.

e) Minority interests represent the portion of net income or loss and net assets of the subsidiaries that arenot held by the Company and are presented separately in the consolidated income statement andwithin equity in the consolidated balance sheet.

2.3 The separate financial statements, which present investments in subsidiaries under the cost method, have beenprepared solely for the benefit of the public.

Notes to consolidated financial statements

100

3. °“√ª√–°“»„™â¡“μ√∞“π°“√∫—≠™’„À¡à„π‡¥◊Õπ¡‘∂ÿπ“¬π 2552 ¿“«‘™“™’æ∫—≠™’‰¥âÕÕ°ª√–°“» ¿“«‘™“™’æ∫—≠™’ ©∫—∫∑’Ë 12/2552 ‡√◊ËÕß °“√®—¥‡≈¢√–∫ÿ©∫—∫¡“μ√∞“π

°“√∫—≠™’¢Õß‰∑¬„Àâμ√ßμ“¡¡“μ√∞“π°“√∫—≠™’√–À«à“ßª√–‡∑» °“√Õâ“ßÕ‘ß‡≈¢¡“μ√∞“π°“√∫—≠™’„πß∫°“√‡ß‘ππ’È ‰¥â∂◊ÕªØ‘∫—μ‘

μ“¡ª√–°“» ¿“«‘™“™’æ∫—≠™’©∫—∫¥—ß°≈à“«

¿“«‘™“™’æ∫—≠™’‰¥âÕÕ°ª√–°“» ¿“«‘™“™’æ∫—≠™’ ©∫—∫∑’Ë 86/2551 ·≈–©∫—∫∑’Ë 16/2552 „Àâ„™â¡“μ√∞“π°“√∫—≠™’ ¡“μ√∞“π°“√

√“¬ß“π∑“ß°“√‡ß‘π ·≈–·π«ªØ‘∫—μ‘∑“ß°“√∫—≠™’„À¡à¥—ßμàÕ‰ªπ’È

3.1 ¡“μ√∞“π°“√∫—≠™’ ¡“μ√∞“π°“√√“¬ß“π∑“ß°“√‡ß‘π ·≈–·π«ªØ‘∫—μ‘∑“ß°“√∫—≠™’∑’Ë¡’º≈∫—ß§—∫„™â„πªïªí®®ÿ∫—π

·¡à∫∑°“√∫—≠™’ (ª√—∫ª√ÿß 2550)

¡“μ√∞“π°“√∫—≠™’©∫—∫∑’Ë 36 (ª√—∫ª√ÿß 2550) °“√¥âÕ¬§à“¢Õß ‘π∑√—æ¬å

¡“μ√∞“π°“√√“¬ß“π∑“ß°“√‡ß‘π©∫—∫∑’Ë 5 (ª√—∫ª√ÿß 2550) ‘π∑√—æ¬å‰¡àÀ¡ÿπ‡«’¬π∑’Ë∂◊Õ‰«â‡æ◊ËÕ¢“¬·≈–°“√¥”‡π‘πß“π

∑’Ë¬°‡≈‘°

·π«ªØ‘∫—μ‘∑“ß°“√∫—≠™’ ”À√—∫°“√∫—π∑÷° ‘∑∏‘°“√‡™à“

·π«ªØ‘∫—μ‘∑“ß°“√∫—≠™’ ”À√—∫°“√√«¡∏ÿ√°‘®¿“¬„μâ°“√§«∫§ÿ¡‡¥’¬«°—π

¡“μ√∞“π°“√∫—≠™’ ¡“μ√∞“π°“√√“¬ß“π∑“ß°“√‡ß‘π ·≈–·π«ªØ‘∫—μ‘∑“ß°“√∫—≠™’¢â“ßμâπ∂◊ÕªØ‘∫—μ‘°—∫ß∫°“√‡ß‘π ”À√—∫

√Õ∫√–¬–‡«≈“∫—≠™’∑’Ë‡√‘Ë¡„πÀ√◊ÕÀ≈—ß«—π∑’Ë 1 ¡°√“§¡ 2552 ‡ªìπμâπ‰ª ΩÉ“¬∫√‘À“√¢Õß∫√‘…—∑œ‰¥âª√–‡¡‘π·≈â«‡ÀÁπ«à“¡“μ√∞“π

°“√√“¬ß“π∑“ß°“√‡ß‘π©∫—∫∑’Ë 5 (ª√—∫ª√ÿß 2550) ·π«ªØ‘∫—μ‘∑“ß°“√∫—≠™’ ”À√—∫°“√∫—π∑÷° ‘∑∏‘°“√‡™à“ ·≈–·π«ªØ‘∫—μ‘

∑“ß°“√∫—≠™’ ”À√—∫°“√√«¡∏ÿ√°‘®¿“¬„μâ°“√§«∫§ÿ¡‡¥’¬«°—π‰¡à‡°’Ë¬«‡π◊ËÕß°—∫∏ÿ√°‘®¢Õß∫√‘…—∑œ à«π·¡à∫∑°“√∫—≠™’ (ª√—∫ª√ÿß

2550) ·≈–¡“μ√∞“π°“√∫—≠™’©∫—∫∑’Ë 36 (ª√—∫ª√ÿß 2550) ‰¡à¡’º≈°√–∑∫Õ¬à“ß‡ªìπ “√– ”§—≠μàÕß∫°“√‡ß‘π ”À√—∫ªïªí®®ÿ∫—π

3.2 ¡“μ√∞“π°“√∫—≠™’∑’Ë¬—ß‰¡à¡’º≈∫—ß§—∫„™â„πªïªí®®ÿ∫—π

«—π∑’Ë¡’º≈∫—ß§—∫„™â

¡“μ√∞“π°“√∫—≠™’©∫—∫∑’Ë 20 °“√∫—≠™’ ”À√—∫‡ß‘πÕÿ¥Àπÿπ®“°√—∞∫“≈·≈–

°“√‡ªî¥‡º¬¢âÕ¡Ÿ≈‡°’Ë¬«°—∫§«“¡™à«¬‡À≈◊Õ®“°√—∞∫“≈ 1 ¡°√“§¡ 2555

¡“μ√∞“π°“√∫—≠™’©∫—∫∑’Ë 24 °“√‡ªî¥‡º¬¢âÕ¡Ÿ≈‡°’Ë¬«°—∫∫ÿ§§≈À√◊Õ°‘®°“√∑’Ë‡°’Ë¬«¢âÕß°—π 1 ¡°√“§¡ 2554

(ª√—∫ª√ÿß 2550)

¡“μ√∞“π°“√∫—≠™’©∫—∫∑’Ë 40 Õ —ßÀ“√‘¡∑√—æ¬å‡æ◊ËÕ°“√≈ß∑ÿπ 1 ¡°√“§¡ 2554

Õ¬à“ß‰√°Áμ“¡ °‘®°“√ “¡“√∂π”¡“μ√∞“π°“√∫—≠™’©∫—∫∑’Ë 24 (ª√—∫ª√ÿß 2550) ·≈–¡“μ√∞“π°“√∫—≠™’©∫—∫∑’Ë 40 ¡“∂◊Õ

ªØ‘∫—μ‘°àÕπ°”Àπ¥‰¥â

ΩÉ“¬∫√‘À“√¢Õß∫√‘…—∑œ‰¥âª√–‡¡‘π·≈â«‡ÀÁπ«à“¡“μ√∞“π°“√∫—≠™’©∫—∫∑’Ë 20 ·≈–¡“μ√∞“π°“√∫—≠™’©∫—∫∑’Ë 40 ‰¡à‡°’Ë¬«‡π◊ËÕß

°—∫∏ÿ√°‘®¢Õß∫√‘…—∑œ à«π¡“μ√∞“π°“√∫—≠™’©∫—∫∑’Ë 24 (ª√—∫ª√ÿß 2550) ®–‰¡à¡’º≈°√–∑∫Õ¬à“ß‡ªìπ “√– ”§—≠μàÕ

ß∫°“√‡ß‘π ”À√—∫ªï∑’Ë‡√‘Ë¡„™â¡“μ√∞“π°“√∫—≠™’¥—ß°≈à“«

4. π‚¬∫“¬°“√∫—≠™’∑’Ë ”§—≠4.1 °“√√—∫√Ÿâ√“¬‰¥â

¢“¬ ‘π§â“

√“¬‰¥â®“°°“√¢“¬ ‘π§â“√—∫√Ÿâ‡¡◊ËÕ∫√‘…—∑œ‰¥â‚Õπ§«“¡‡ ’Ë¬ß·≈–º≈μÕ∫·∑π∑’Ë‡ªìπ “√– ”§—≠¢Õß§«“¡‡ªìπ‡®â“¢Õß ‘π§â“

„Àâ°—∫ºŸâ´◊ÈÕ·≈â« √“¬‰¥â®“°°“√¢“¬· ¥ß¡Ÿ≈§à“μ“¡√“§“„π„∫°”°—∫ ‘π§â“‚¥¬‰¡à√«¡¿“…’¡Ÿ≈§à“‡æ‘Ë¡ ”À√—∫ ‘π§â“∑’Ë ‰¥â àß

¡Õ∫À≈—ß®“°À—° à«π≈¥·≈â«


101


3. Adoption of new accounting standardsIn June 2009, the Federation of Accounting Professions issued Notification No. 12/2552, assigning new numbersto Thai Accounting Standards that match the corresponding International Accounting Standards. The numbers ofThai Accounting Standards as referred to in these financial statements reflect such change.

The Federation of Accounting Professions has issued Notification No. 86/2551 and 16/2552, mandating the use of newaccounting standards, financial reporting standard and accounting treatment guidance as follows.

3.1 Accounting standards, financial reporting standard and accounting treatment guidance which areeffective for the current yearFramework for the Preparation and Presentation of Financial Statements (revised 2007)TAS 36 (revised 2007) Impairment of AssetsTFRS 5 (revised 2007) Non-current Assets Held for Sale and Discontinued OperationsAccounting Treatment Guidance for Leasehold RightAccounting Treatment Guidance for Business Combination under Common Control

These accounting standards, financial reporting standard and accounting treatment guidance becameeffective for the financial statements for fiscal years beginning on or after 1 January 2009. The managementhas assessed the effect of these standards and believes that TFRS 5 (revised 2007), Accounting TreatmentGuidance for Leasehold Right and Accounting Treatment Guidance for Business Combination under CommonControl are not relevant to the business of the Company, while Framework for Preparation and Presentationof Financial Statements (revised 2007) and TAS 36 (revised 2007) do not have any significant impact onthe financial statements for the current year.

3.2 Accounting standards which are not effective for the current yearEffective date

TAS 20 Accounting for Government Grants and Disclosure 1 January 2012of Government Assistance

TAS 24 (revised 2007) Related Party Disclosures 1 January 2011TAS 40 Investment Property 1 January 2011

However, TAS 24 (revised 2007) and TAS 40 allow early adoption by the entity before the effective date.

The management of the Company has assessed the effect of these standards and believes that TAS 20 andTAS 40 are not relevant to the business of the Company, while TAS 24 (revised 2007) will not have any significantimpact on the financial statements for the year in which it is initially applied.

4. Significant accounting policies4.1 Revenue recognition

Sales of goodsSales of goods are recognized when the significant risks and rewards of ownership of the goods have passedto the buyer. Sales are the invoiced value, excluding value added tax, of goods supplied after deductingdiscounts and allowances.

102

¥Õ°‡∫’È¬√—∫

¥Õ°‡∫’È¬∂◊Õ‡ªìπ√“¬‰¥âμ“¡‡°≥±å§ß§â“ß‚¥¬§”π÷ß∂÷ßÕ—μ√“º≈μÕ∫·∑π∑’Ë·∑â®√‘ß

4.2 ‡ß‘π ¥·≈–√“¬°“√‡∑’¬∫‡∑à“‡ß‘π ¥

‡ß‘π ¥·≈–√“¬°“√‡∑’¬∫‡∑à“‡ß‘π ¥ À¡“¬∂÷ß ‡ß‘π ¥·≈–‡ß‘πΩ“°∏π“§“√ ·≈–‡ß‘π≈ß∑ÿπ√–¬– —Èπ∑’Ë¡’ ¿“æ§≈àÕß Ÿß ÷Ëß∂÷ß°”Àπ¥

®à“¬§◊π¿“¬„π√–¬–‡«≈“‰¡à‡°‘π 3 ‡¥◊Õππ—∫®“°«—π∑’Ë‰¥â¡“·≈–‰¡à¡’¢âÕ®”°—¥„π°“√‡∫‘°„™â

4.3 Õ–‰À≈à·≈–«— ¥ÿ§ß‡À≈◊Õ

Õ–‰À≈à·≈–«— ¥ÿ§ß‡À≈◊Õ· ¥ß¡Ÿ≈§à“μ“¡√“§“∑ÿπ∂—«‡©≈’Ë¬À√◊Õ¡Ÿ≈§à“ ÿ∑∏‘∑’Ë§“¥«à“®–‰¥â√—∫·≈â«·μà√“§“„¥®–μË”°«à“ ·≈–®–∂◊Õ

‡ªìπ à«πÀπ÷Ëß¢Õßμâπ∑ÿπ°“√º≈‘μ‡¡◊ËÕ¡’°“√‡∫‘°„™â

4.4 ‡ß‘π≈ß∑ÿπ

°) ‡ß‘π≈ß∑ÿπ„πÀ≈—°∑√—æ¬å‡æ◊ËÕ§â“· ¥ßμ“¡¡Ÿ≈§à“¬ÿμ‘∏√√¡ ∫√‘…—∑œ∫—π∑÷°°“√‡ª≈’Ë¬π·ª≈ß¡Ÿ≈§à“¢ÕßÀ≈—°∑√—æ¬å‡ªìπ√“¬°“√

°”‰√À√◊Õ¢“¥∑ÿπ„πß∫°”‰√¢“¥∑ÿπ

¢) ‡ß‘π≈ß∑ÿπ„πÀ≈—°∑√—æ¬å‡º◊ËÕ¢“¬· ¥ßμ“¡¡Ÿ≈§à“¬ÿμ‘∏√√¡ ∫√‘…—∑œ ∫—π∑÷°°“√‡ª≈’Ë¬π·ª≈ß¡Ÿ≈§à“À≈—°∑√—æ¬å¥—ß°≈à“«‡ªìπ

√“¬°“√·¬°μà“ßÀ“°„π à«π¢ÕßºŸâ∂◊ÕÀÿâπ®π°√–∑—Ëß®”Àπà“¬À≈—°∑√—æ¬å¥—ß°≈à“«ÕÕ°‰ª ®÷ß∫—π∑÷°°“√‡ª≈’Ë¬π·ª≈ß¡Ÿ≈§à“

π—Èπ„πß∫°”‰√¢“¥∑ÿπ

§) ‡ß‘π≈ß∑ÿπ„π∫√‘…—∑¬àÕ¬∑’Ë· ¥ßÕ¬Ÿà„πß∫°“√‡ß‘π‡©æ“–°‘®°“√· ¥ß¡Ÿ≈§à“μ“¡«‘∏’√“§“∑ÿπ

¡Ÿ≈§à“¬ÿμ‘∏√√¡¢ÕßÀ≈—°∑√—æ¬å„π§«“¡μâÕß°“√¢Õßμ≈“¥§”π«≥®“°√“§“‡ πÕ ◊ÈÕÀ≈—ß ÿ¥ ≥ ‘Èπ«—π∑”°“√ ÿ¥∑â“¬¢Õßªï¢Õß

μ≈“¥À≈—°∑√—æ¬å·Ààßª√–‡∑»‰∑¬ ¡Ÿ≈§à“¬ÿμ‘∏√√¡¢ÕßÀπà«¬≈ß∑ÿπ§”π«≥®“°¡Ÿ≈§à“ ‘π∑√—æ¬å ÿ∑∏‘

∫√‘…—∑œ „™â«‘∏’∂—«‡©≈’Ë¬∂à«ßπÈ”Àπ—°„π°“√§”π«≥μâπ∑ÿπ¢Õß‡ß‘π≈ß∑ÿπ

„π°√≥’∑’Ë¡’°“√‚Õπ‡ª≈’Ë¬πª√–‡¿∑‡ß‘π≈ß∑ÿπ ∫√‘…—∑œ®–ª√—∫‡ª≈’Ë¬π√“§“¢Õß‡ß‘π≈ß∑ÿπ„À¡à‚¥¬„™â¡Ÿ≈§à“¬ÿμ‘∏√√¡ ≥ «—π∑’Ë ‚Õπ

‡ª≈’Ë¬πª√–‡¿∑‡ß‘π≈ß∑ÿπ º≈·μ°μà“ß√–À«à“ß√“§“μ“¡∫—≠™’·≈–¡Ÿ≈§à“¬ÿμ‘∏√√¡ ≥ «—π∑’Ë‚Õπ‰¥â∫—π∑÷°‡ªìπ√“¬°“√°”‰√ (¢“¥∑ÿπ)

„πß∫°”‰√¢“¥∑ÿπÀ√◊Õ· ¥ß‡ªìπ à«π‡°‘π (μË”°«à“) ∑ÿπ®“°°“√‡ª≈’Ë¬π·ª≈ß¡Ÿ≈§à“„π à«π¢ÕßºŸâ∂◊ÕÀÿâπ·≈â«·μàª√–‡¿∑¢Õß‡ß‘π

≈ß∑ÿπ∑’Ë¡’°“√‚Õπ‡ª≈’Ë¬π

4.5 ∑’Ë¥‘π Õ“§“√·≈–Õÿª°√≥å·≈–§à“‡ ◊ËÕ¡√“§“

∑’Ë¥‘π· ¥ß¡Ÿ≈§à“μ“¡√“§“∑ÿπ Õ“§“√·≈–Õÿª°√≥å· ¥ß¡Ÿ≈§à“μ“¡√“§“∑ÿπÀ—°§à“‡ ◊ËÕ¡√“§“ – ¡

§à“‡ ◊ËÕ¡√“§“¢Õß‚√ß‰øøÑ“ Õ“§“√·≈–Õÿª°√≥å§”π«≥®“°√“§“∑ÿπ¢Õß ‘π∑√—æ¬å‚¥¬«‘∏’‡ âπμ√ßμ“¡Õ“¬ÿ°“√„™âß“π

‚¥¬ª√–¡“≥¥—ßμàÕ‰ªπ’È:

‚√ß‰øøÑ“ 30 ªï

à«πª√—∫ª√ÿß‚√ß‰øøÑ“ 3 - 6 ªï

Õ“§“√ 20 - 25 ªï

‡§√◊ËÕß¡◊Õ·≈–Õÿª°√≥å 5 - 10 ªï

‡§√◊ËÕßμ°·μàß·≈–‡§√◊ËÕß„™â ”π—°ß“π 3 - 5 ªï

¬“πæ“Àπ– 5 ªï

‰¡à¡’°“√§‘¥§à“‡ ◊ËÕ¡√“§“ ”À√—∫∑’Ë¥‘π·≈–ß“π√–À«à“ß°àÕ √â“ß


103


Interest incomeInterest income is recognized on an accrual basis based on the effective rate.

4.2 Cash and cash equivalentsCash and cash equivalents consist of cash in hand and at banks, and all highly liquid investments with anoriginal maturity of three months or less and not subject to withdrawal restrictions.

4.3 Spare parts and suppliesSpare parts and supplies are valued at the lower of average cost and net realisable value and constitute partof production costs whenever consumed.

4.4 Investmentsa) Investments in securities held for trading are presented at fair value. Gains or losses arising from change

in the carrying amounts of securities are included in determining income.

b) Investments in available-for-sale securities are stated at fair value. Changes in the carrying amounts ofsecurities are recorded as separate items in shareholdersû equity until the securities are sold, when thechanges are then included in determining income.

c) Investments in subsidiaries are accounted for in the separate financial statements using the cost method.

The fair value of marketable securities is based on the latest bid price of the last working day of the year asquoted on the Stock Exchange of Thailand. The fair value of unit trusts is determined from their net asset value.

The weighted average method is used for computation of the cost of investments.

In the event the Company reclassifies investments in securities, such investments are adjusted to their fair valueas at the reclassification date. Differences between the carrying amount of the investments and their fair valueon that date are included in determining income or recorded as surplus (deficit) from changes in the value ofinvestments in shareholdersû equity, depending on the type of investment which is reclassified.

4.5 Property, plant and equipment/DepreciationLand is stated at cost. Plant and equipment are stated at cost less accumulated depreciation.

Depreciation of power plant, buildings and equipment is calculated by reference to their costs on the straight-line method over the following estimated useful lives:Power plant 30 yearsPower plant improvement 3 - 6 yearsBuildings 20 - 25 yearsTools and equipment 5 - 10 yearsFurniture, fixtures and office equipment 3 - 5 yearsVehicles 5 years

No depreciation is provided for land and construction in progress.

104

§à“‡ ◊ËÕ¡√“§“√«¡Õ¬Ÿà„π°“√§”π«≥º≈°“√¥”‡π‘πß“π

4.6 √“¬°“√∏ÿ√°‘®°—∫∫ÿ§§≈À√◊Õ°‘®°“√∑’Ë‡°’Ë¬«¢âÕß°—π

∫ÿ§§≈À√◊Õ°‘®°“√∑’Ë‡°’Ë¬«¢âÕß°—π°—∫∫√‘…—∑œ À¡“¬∂÷ß ∫ÿ§§≈À√◊Õ°‘®°“√∑’Ë¡’Õ”π“®§«∫§ÿ¡∫√‘…—∑œ À√◊Õ∂Ÿ°§«∫§ÿ¡‚¥¬∫√‘…—∑œ

‰¡à«à“®–‡ªìπ‚¥¬∑“ßμ√ßÀ√◊Õ∑“ßÕâÕ¡ À√◊ÕÕ¬Ÿà¿“¬„μâ°“√§«∫§ÿ¡‡¥’¬«°—π°—∫∫√‘…—∑œ

πÕ°®“°π’È ∫ÿ§§≈À√◊Õ°‘®°“√∑’Ë‡°’Ë¬«¢âÕß°—π¬—ßÀ¡“¬√«¡∂÷ß∫ÿ§§≈ ÷Ëß¡’Õ‘∑∏‘æ≈Õ¬à“ß‡ªìπ “√– ”§—≠°—∫∫√‘…—∑œ ºŸâ∫√‘À“√ ”§—≠

°√√¡°“√À√◊Õæπ—°ß“π¢Õß∫√‘…—∑œ ∑’Ë¡’Õ”π“®„π°“√«“ß·ºπ·≈–§«∫§ÿ¡°“√¥”‡π‘πß“π¢Õß∫√‘…—∑œ

4.7 ‡ß‘πμ√“μà“ßª√–‡∑»

√“¬°“√∑’Ë‡ªìπ‡ß‘πμ√“μà“ßª√–‡∑»·ª≈ß§à“‡ªìπ‡ß‘π∫“∑‚¥¬„™âÕ—μ√“·≈°‡ª≈’Ë¬π ≥ «—π∑’Ë∑’Ë‡°‘¥√“¬°“√ ‘π∑√—æ¬å·≈–Àπ’È ‘π

∑’Ë‡ªìπ‡ß‘πμ√“μà“ßª√–‡∑»§ß‡À≈◊ÕÕ¬Ÿà ≥ «—π∑’Ë„πß∫¥ÿ≈·ª≈ß§à“‡ªìπ‡ß‘π∫“∑‚¥¬„™âÕ—μ√“·≈°‡ª≈’Ë¬π ≥ «—π∑’Ë„πß∫¥ÿ≈

°”‰√·≈–¢“¥∑ÿπ∑’Ë‡°‘¥®“°°“√‡ª≈’Ë¬π·ª≈ß„πÕ—μ√“·≈°‡ª≈’Ë¬π√«¡Õ¬Ÿà„π°“√§”π«≥º≈°“√¥”‡π‘πß“π

4.8 °“√¥âÕ¬§à“¢Õß ‘π∑√—æ¬å

∑ÿ°«—π∑’Ë„πß∫¥ÿ≈ ∫√‘…—∑œ ®–∑”°“√ª√–‡¡‘π«à“¡’¢âÕ∫àß™’È´÷Ëß· ¥ß«à“ ‘π∑√—æ¬å¢Õß∫√‘…—∑œ ¥âÕ¬§à“≈ßÀ√◊Õ‰¡à À“°¡’¢âÕ∫àß™’È

¢Õß°“√¥âÕ¬§à“ ∫√‘…—∑œ ®–∑”°“√ª√–¡“≥¡Ÿ≈§à“∑’Ë§“¥«à“®–‰¥â√—∫§◊π¢Õß ‘π∑√—æ¬å·≈–À“°æ∫«à“√“§“μ“¡∫—≠™’¢Õß ‘π∑√—æ¬å

π—Èπ¡’¡Ÿ≈§à“ Ÿß°«à“¡Ÿ≈§à“∑’Ë§“¥«à“®–‰¥â√—∫§◊π ∫√‘…—∑œ ®–≈¥¡Ÿ≈§à“¢Õß ‘π∑√—æ¬å≈ß„Àâ‡∑à“°—∫¡Ÿ≈§à“∑’Ë§“¥«à“®–‰¥â√—∫§◊π ·≈–

√—∫√Ÿâº≈¢“¥∑ÿπ®“°°“√¥âÕ¬§à“¢Õß ‘π∑√—æ¬å„πß∫°”‰√¢“¥∑ÿπ (¡Ÿ≈§à“∑’Ë§“¥«à“®–‰¥â√—∫§◊π¢Õß ‘π∑√—æ¬åÀ¡“¬∂÷ß√“§“¢“¬

ÿ∑∏‘À√◊Õ¡Ÿ≈§à“®“°°“√„™â¢Õß ‘π∑√—æ¬åπ—Èπ·≈â«·μà®”π«π„¥®– Ÿß°«à“)

4.9 º≈ª√–‚¬™πåæπ—°ß“π

∫√‘…—∑œ √—∫√Ÿâ ‡ß‘π‡¥◊Õπ §à“®â“ß ‚∫π— ·≈–‡ß‘π ¡∑∫°Õß∑ÿπª√–°—π —ß§¡·≈–°Õß∑ÿπ ”√Õß‡≈’È¬ß™’æ‡ªìπ§à“„™â®à“¬‡¡◊ËÕ‡°‘¥

√“¬°“√

4.10 ¿“…’‡ß‘π‰¥â

∫√‘…—∑œ ∫—π∑÷°¿“…’‡ß‘π‰¥â‚¥¬§”π«≥®“°°”‰√ ÿ∑∏‘∑“ß¿“…’μ“¡°ÆÀ¡“¬¿“…’Õ“°√

4.11 μâπ∑ÿπ°“√°Ÿâ¬◊¡

¥Õ°‡∫’È¬®à“¬·≈–§à“∏√√¡‡π’¬¡ºŸ°æ—π‡ß‘π°Ÿâ∑’Ë‡°‘¥®“°°“√°Ÿâ¬◊¡‡æ◊ËÕ„™â„π√–À«à“ß°“√°àÕ √â“ß‚√ß‰øøÑ“ ·≈–μ‘¥μ—Èß‡§√◊ËÕß®—°√

∂◊Õ‡ªìπ à«πÀπ÷Ëß¢Õßμâπ∑ÿπ¢Õß ‘π∑√—æ¬å·≈–®–À¬ÿ¥∫—π∑÷°‡¡◊ËÕ ‘π∑√—æ¬åπ—ÈπÕ¬Ÿà„π ¿“ææ√âÕ¡„™âß“π‰¥â μâπ∑ÿπ°“√°Ÿâ¬◊¡Õ◊ËπÊ

∂◊Õ‡ªìπ§à“„™â®à“¬„πß«¥∑’Ë‡°‘¥√“¬°“√ μâπ∑ÿπ°“√°Ÿâ¬◊¡ª√–°Õ∫¥â«¬¥Õ°‡∫’È¬·≈–μâπ∑ÿπÕ◊Ëπ∑’Ë‡°‘¥¢÷Èπ®“°°“√°Ÿâ¬◊¡¢Õß°‘®°“√

4.12 °“√„™âª√–¡“≥°“√∑“ß∫—≠™’

„π°“√®—¥∑”ß∫°“√‡ß‘πμ“¡¡“μ√∞“π°“√∫—≠™’∑’Ë√—∫√Õß∑—Ë«‰ª „π∫“ß ∂“π°“√≥åΩÉ“¬∫√‘À“√Õ“®μâÕß„™â°“√ª√–¡“≥·≈–°“√

μ—Èß ¡¡μ‘∞“π ÷Ëß¡’º≈°√–∑∫μàÕ®”π«π‡ß‘π∑’Ë· ¥ß„πß∫°“√‡ß‘π·≈–À¡“¬‡Àμÿª√–°Õ∫ß∫°“√‡ß‘π ¥â«¬‡Àμÿπ’Èº≈∑’Ë‡°‘¥¢÷Èπ®√‘ß

®÷ßÕ“®·μ°μà“ß‰ª®“°®”π«π∑’Ëª√–¡“≥‰«â

5. ≈Ÿ°Àπ’È°“√§â“¬Õ¥§ß‡À≈◊Õ≈Ÿ°Àπ’È°“√§â“ ≥ «—π∑’Ë 31 ∏—π«“§¡ 2552 ·≈– 2551 ‡ªìπÀπ’È∑’Ë¬—ß‰¡à∂÷ß°”Àπ¥™”√–


105


Depreciation is included in determining income.

4.6 Related party transactionsRelated parties comprise enterprises and individuals that control or are controlled by the Company, whetherdirectly or indirectly, or which are under common control with the Company.

They also include individuals which directly or indirectly own a voting interest in the Company that gives themsignificant influence over the Company, key management personnel, directors and officers with authority in theplanning and direction of the Companyûs operations.

4.7 Foreign currenciesForeign currency transactions are translated into Baht at the exchange rates ruling on the transaction dates.Assets and liabilities denominated in foreign currencies outstanding at the balance sheet date are translated intoBaht at the exchange rates ruling on the balance sheet date.

Gains and losses on exchange are included in determining income.

4.8 Impairment of assetsThe Company assesses at each reporting date whether there is an indication that an asset may be impaired.If any such indication exists, the Company makes an estimate of the assetûs recoverable amount. Wherethe carrying amount of the asset exceeds its recoverable amount, the asset is considered impaired and iswritten down to its recoverable amount. Impairment losses are recognised in the income statement. An assetûsrecoverable amount is the higher of fair value less costs to sell and value in use.

4.9 Employee benefitsSalaries, wages, bonuses and contributions to the social security fund and provident fund are recognisedas expenses when incurred.

4.10 Income taxIncome tax is provided for in the accounts based on the taxable profits determined in accordance with taxlegislation.

4.11 Borrowing costThe interest cost of borrowings for the construction of the power plant and installation of machinery, andrelated commitment fees, are capitalized as part of the cost of the assets. Capitalisation ceases when theassets are ready for their intended use. All other borrowing costs are expensed in the period they occur.Borrowing costs consist of interest and other costs that an entity incurs in connection with the borrowingof funds.

4.12 Use of accounting estimatesPreparation of financial statements in conformity with generally accepted accounting principles requiresmanagement to make estimates and assumptions in certain circumstances, affecting amounts reported inthese financial statements and related notes. Actual results could differ from these estimates.

5. Trade accounts receivableAs at 31 December 2009 and 2008, the outstanding balances of trade accounts receivable are not yet due.

106

6. √“¬°“√∏ÿ√°‘®°—∫°‘®°“√∑’Ë‡°’Ë¬«¢âÕß°—π„π√–À«à“ßªï ∫√‘…—∑œ ·≈–∫√‘…—∑¬àÕ¬¡’√“¬°“√∏ÿ√°‘®∑’Ë ”§—≠°—∫∫ÿ§§≈À√◊Õ°‘®°“√∑’Ë‡°’Ë¬«¢âÕß°—π √“¬°“√∏ÿ√°‘®¥—ß°≈à“«‡ªìπ‰ªμ“¡

‡ß◊ËÕπ‰¢∑“ß°“√§â“·≈–‡°≥±åμ“¡∑’Ëμ°≈ß°—π√–À«à“ß∫√‘…—∑œ·≈–∫√‘…—∑‡À≈à“π—Èπ ´÷Ëß‡ªìπ‰ªμ“¡ª°μ‘∏ÿ√°‘®‚¥¬ “¡“√∂ √ÿª‰¥â¥—ßπ’È

(Àπà«¬: ≈â“π∫“∑)ß∫°“√‡ß‘π√«¡ ß∫°“√‡ß‘π‡©æ“–°‘®°“√ π‚¬∫“¬°“√°”Àπ¥√“§“

2552 2551 2552 2551

√“¬°“√∏ÿ√°‘®°—∫∫√‘…—∑¬àÕ¬

(μ—¥ÕÕ°®“°ß∫°“√‡ß‘π√«¡·≈â«)

∫√‘…—∑ À‚§‡®π °√’π ®”°—¥

§à“∫√‘°“√®à“¬ - - 3.5 4.5 √“§“∑ÿπ

§à“∫√‘°“√√—∫ - - 4.2 - √“§“∑ÿπ

¥Õ°‡∫’È¬√—∫ - - 0.9 0.4 Õ—μ√“¥Õ°‡∫’È¬‡ß‘π°Ÿâ¬◊¡¢—ÈπμË”

(MLR)

¥Õ°‡∫’È¬®à“¬ - - 0.1 - Õ—μ√“¥Õ°‡∫’È¬‡ß‘πΩ“°ª√–®”

¢Õß∏π“§“√æ“≥‘™¬å

„πª√–‡∑»

√“¬°“√∏ÿ√°‘®°—∫∫√‘…—∑∑’Ë‡°’Ë¬«¢âÕß°—π

∫√‘…—∑ Àæ—≤π“Õ‘π‡μÕ√å‚Œ≈¥‘Èß ®”°—¥ (¡À“™π)

¢“¬æ≈—ßß“π‰øøÑ“ 957.0 921.2 957.0 921.2 Õ—μ√“§à“‰øøÑ“¢Õß°“√‰øøÑ“

à«π¿Ÿ¡‘¿“§À—°¥â«¬

Õ—μ√“ à«π≈¥

¢“¬æ≈—ßß“π‰ÕπÈ” 270.9 331.5 270.9 331.5 √“§“μ“¡ —≠≠“

§à“∏√√¡‡π’¬¡®à“¬ ”À√—∫°“√§È”ª√–°—π §«“¡μâÕß°“√‰øøÑ“¢—ÈπμË” 5.5 5.5 5.5 5.5 √“§“μ“¡ —≠≠“

(Àπà«¬: ≈â“π∫“∑)ß∫°“√‡ß‘π√«¡ ß∫°“√‡ß‘π‡©æ“–°‘®°“√ π‚¬∫“¬°“√°”Àπ¥√“§“

2552 2551 2552 2551

§à“πÈ”¥‘∫·≈–§à“∫”∫—¥πÈ”‡ ’¬®à“¬ 2.5 2.5 2.5 2.5 √“§“‡ªìπ‰ªμ“¡ª°μ‘‡™àπ

‡¥’¬«°—∫ ≈Ÿ°§â“∑—Ë«‰ª

´◊ÈÕ∑’Ë¥‘π 65.4 - - - √“§“‡ªìπ‰ªμ“¡ª°μ‘‡™àπ

‡¥’¬«°—∫ ≈Ÿ°§â“∑—Ë«‰ª

∫√‘…—∑ ÕÕªÕ‡√™—ËππÕ≈ ‡ÕÁπ‡πÕ√å¬’Ë °√ÿäª ®”°—¥

§à“∫√‘°“√¥â“π°“√®—¥°“√®à“¬ 73.4 70.3 73.4 70.3 √“§“μ“¡ —≠≠“

§à“‡™à“‡§√◊ËÕß®—°√ 75.3 75.2 75.3 75.2 √“§“μ“¡ —≠≠“

∫√‘…—∑ ‘π¿√“¥√ ®”°—¥

§à“‡™à“∑’Ë¥‘π 1.7 1.7 1.7 1.7 √“§“μ“¡ —≠≠“

∫√‘…—∑ æ‘∑—°…å°‘® ®”°—¥

§à“∫√‘°“√°àÕ √â“ß - 7.1 - - √“§“μ“¡ —≠≠“

∫√‘…—∑ æ’ ∑’ ‡§ ¡—≈μ‘‡´Õ√å«‘ ®”°—¥

§à“∫√‘°“√°àÕ √â“ß - 7.3 - - √“§“μ“¡ —≠≠“

¬Õ¥§ß§â“ß√–À«à“ß∫√‘…—∑œ·≈–∫√‘…—∑∑’Ë‡°’Ë¬«¢âÕß°—π ≥ «—π∑’Ë 31 ∏—π«“§¡ 2552 ·≈– 2551 ¡’√“¬≈–‡Õ’¬¥¥—ßπ’È


107


6. Related party transactionsDuring the years, the Company and its subsidiaries had significant business transactions with related parties, whichhave been concluded on commercial terms and bases agreed upon in the ordinary course of business betweenthe Company and those companies. Below is a summary of those transactions.

(Unit: Million Baht)Consolidated Separate

financial statements financial statements Pricing policy2009 2008 2009 2008

Transactions with subsidiary(eliminated from the consolidated financial statements)Sahacogen Green Company LimitedService charges - - 3.5 4.5 At costService revenue - - 4.2 - At costInterest income - - 0.9 0.4 Minimum loan rate (MLR)Interest expenses - - 0.1 - Interest rate of fixed

deposit with localcommercial bank

Transactions with related companiesSaha Pathana Inter-Holding Public Company LimitedSales of electricity 957.0 921.2 957.0 921.2 Electricity rate charged

by the ProvincialElectricity Authority,deducted by certaindiscount

Sales of steam 270.9 331.5 270.9 331.5 Contract priceFee paid for guarantee for minimum electricity demand 5.5 5.5 5.5 5.5 Contract price

(Unit: Million Baht)Consolidated Separate

financial statements financial statements Pricing policy2009 2008 2009 2008

Raw water and waste water treatment costs 2.5 2.5 2.5 2.5 Price charged to othercustomers in the normalcourse of business

Purchase of land 65.4 - - - Price charged to othercustomers in the normalcourse of business

Operational Energy Group LimitedOperation and service management fees 73.4 70.3 73.4 70.3 Contract priceMachinery lease fees 75.3 75.2 75.3 75.2 Contract priceSinparadorn Company LimitedLand rental expense 1.7 1.7 1.7 1.7 Contract pricePitakkij Company LimitedConstruction services - 7.1 - - Contract pricePTK Multi Services Company LimitedConstruction services - 7.3 - - Contract price

The balances of the accounts as at 31 December 2009 and 2008 between the Company and those related companiesare as follows:

108

(Àπà«¬: ∫“∑)ß∫°“√‡ß‘π√«¡ ß∫°“√‡ß‘π‡©æ“–°‘®°“√

2552 2551 2552 2551

≈Ÿ°Àπ’È°“√§â“ - ∫√‘…—∑∑’Ë‡°’Ë¬«¢âÕß°—π

∫√‘…—∑ Àæ—≤π“Õ‘π‡μÕ√å‚Œ≈¥‘Èß ®”°—¥ (¡À“™π) 108,529,333 87,462,357 108,529,333 87,462,357

√«¡≈Ÿ°Àπ’È°“√§â“ - ∫√‘…—∑∑’Ë‡°’Ë¬«¢âÕß°—π 108,529,333 87,462,357 108,529,333 87,462,357

≈Ÿ°Àπ’ÈÕ◊Ëπ - ∫√‘…—∑¬àÕ¬

∫√‘…—∑ À‚§‡®π °√’π ®”°—¥ - - 635,959 -

√«¡≈Ÿ°Àπ’ÈÕ◊Ëπ - ∫√‘…—∑¬àÕ¬ - - 635,959 -

‡ß‘π„Àâ°Ÿâ¬◊¡√–¬– —Èπ·≈–¥Õ°‡∫’È¬§â“ß√—∫®“°∫√‘…—∑¬àÕ¬

∫√‘…—∑ À‚§‡®π °√’π ®”°—¥ - - - 23,923,428

√«¡‡ß‘π„Àâ°Ÿâ¬◊¡√–¬– —Èπ·≈–¥Õ°‡∫’È¬§â“ß√—∫®“°∫√‘…—∑¬àÕ¬ - - - 23,923,428

‡®â“Àπ’È°‘®°“√∑’Ë‡°’Ë¬«¢âÕß°—π

∫√‘…—∑¬àÕ¬

∫√‘…—∑ À‚§‡®π °√’π ®”°—¥ - - 388,415 5,021,130

∫√‘…—∑∑’Ë‡°’Ë¬«¢âÕß°—π

∫√‘…—∑ ÕÕªÕ‡√™—ËππÕ≈ ‡ÕÁπ‡πÕ√å¬’Ë °√ÿäª ®”°—¥ 52,158,574 33,565,114 52,158,574 33,565,114

∫√‘…—∑ Àæ—≤π“Õ‘π‡μÕ√å‚Œ≈¥‘Èß ®”°—¥ (¡À“™π) 249,228 281,811 239,865 242,840

∫√‘…—∑ æ‘∑—°…å°‘® ®”°—¥ 38,656 497,556 - -

∫√‘…—∑ æ’ ∑’ ‡§ ¡—≈μ‘‡´Õ√å«‘ ®”°—¥ 159,957 610,427 - -

√«¡‡®â“Àπ’È°‘®°“√∑’Ë‡°’Ë¬«¢âÕß°—π 52,606,415 34,954,908 52,786,854 38,829,084

7. ‡ß‘π≈ß∑ÿπ„π∫√‘…—∑¬àÕ¬(Àπà«¬: ∫“∑)

ß∫°“√‡ß‘π‡©æ“–°‘®°“√

™◊ËÕ∫√‘…—∑ ∑ÿπ‡√’¬°™”√–·≈â« —¥ à«π‡ß‘π≈ß∑ÿπ √“§“∑ÿπ

2552 2551 2552 2551 2552 2551

≈â“π∫“∑ ≈â“π∫“∑ √âÕ¬≈– √âÕ¬≈–

∫√‘…—∑ À‚§‡®π °√’π ®”°—¥ 688.7 250.0 100 100 688,749,930 249,999,930

∫√‘…—∑ À°√’π øÕ‡√ ∑å ®”°—¥ 5.0 5.0 75 75 3,749,970 3,749,970

√«¡ 692,499,900 253,749,900

„π‡¥◊Õπ¡‘∂ÿπ“¬π 2552 ∫√‘…—∑ À‚§‡®π °√’π ®”°—¥ ‰¥â‡æ‘Ë¡∑ÿπ®¥∑–‡∫’¬π®“°‡¥‘¡ 250 ≈â“π∫“∑ (Àÿâπ “¡—≠ 25 ≈â“πÀÿâπ ¡Ÿ≈§à“

Àÿâπ≈– 10 ∫“∑) ‡ªìπ 900 ≈â“π∫“∑ (Àÿâπ “¡—≠ 90 ≈â“πÀÿâπ ¡Ÿ≈§à“Àÿâπ≈– 10 ∫“∑) ∫√‘…—∑œ‰¥â™”√–§à“Àÿâπ à«π∑’Ë‡æ‘Ë¡∑ÿπ®”π«π

65 ≈â“πÀÿâπ„πÕ—μ√“√âÕ¬≈– 67.5 ¢Õß√“§“μ“¡¡Ÿ≈§à“∑’Ëμ√“‰«â√«¡‡ªìπ®”π«π‡ß‘π 438.75 ≈â“π∫“∑

8. ‡ß‘π≈ß∑ÿπ√–¬–¬“«Õ◊Ëπ - À≈—°∑√—æ¬å‡º◊ËÕ¢“¬‡¡◊ËÕ«—π∑’Ë 30 ¡‘∂ÿπ“¬π 2552 ∫√‘…—∑œ ‰¥â¡’°“√‚Õπ‡ª≈’Ë¬πª√–‡¿∑‡ß‘π≈ß∑ÿπ„πÀ≈—°∑√—æ¬å„π§«“¡μâÕß°“√¢Õßμ≈“¥®“°À≈—°

∑√—æ¬å‡æ◊ËÕ§â“‰ª‡ªìπÀ≈—°∑√—æ¬å‡º◊ËÕ¢“¬ ‚¥¬¡’¡Ÿ≈§à“¬ÿμ‘∏√√¡·≈–¡Ÿ≈§à“μ“¡∫—≠™’ ≥ «—π‚Õπ‡ªìπ®”π«π‡ß‘π 8.6 ≈â“π∫“∑


109



statements statements2009 2008 2009 2008

Trade accounts receivable - related companySaha Pathana Inter-Holding Public Company Limited 108,529,333 87,462,357 108,529,333 87,462,357Total trade accounts receivable - related company 108,529,333 87,462,357 108,529,333 87,462,357

Other receivable - subsidiarySahacogen Green Company Limited - - 635,959 -

Total other receivable - subsidiary - - 635,959 -

Short-term loans to and interest receivablefrom subsidiary

Sahacogen Green Company Limited - - - 23,923,428Total short-term loans to and interest receivable - - - 23,923,428

from subsidiary

Amount due to related partiesSubsidiary

Sahacogen Green Company Limited - - 388,415 5,021,130Related companies

Operational Energy Group Limited 52,158,574 33,565,114 52,158,574 33,565,114Saha Pathana Inter-Holding Public 249,228 281,811 239,865 242,840

Company LimitedPitakkij Company Limited 38,656 497,556 - -PTK Multi Services Company Limited 159,957 610,427 - -

Total amount due to related parties 52,606,415 34,954,908 52,786,854 38,829,084

7. Investments in subsidiaries

(Unit: Baht)Separate financial statements

Companyûs name Paid-up capital Shareholding percentage Cost2009 2008 2009 2008 2009 2008

Million Baht Million Baht % %Sahacogen Green Company Limited 688.7 250.0 100 100 688,749,930 249,999,930Sahagreen Forest Company Limited 5.0 5.0 75 75 3,749,970 3,749,970

Total 692,499,900 253,749,900

In June 2009, Sahacogen Green Company Limited increased its registered share capital from Baht 250 million (25million ordinary shares of Baht 10 each) to Baht 900 million (90 million ordinary shares of Baht 10 each). The Companyhas paid up 67.5 percent of the par value of the additional 65 million shares, totaling Baht 438.75 million.

8. Other long-term investments - available-for-sale securitiesOn 30 June 2009, the Company transferred investments in marketable securities held for trading to available-for-salesecurities. At the transfer date, both the fair value and the book value of the investments amounted to Baht 8.6 million.

110

≥ «—π∑’Ë 31 ∏—π«“§¡ 2552 ∫√‘…—∑œ ¡’¬Õ¥§ß‡À≈◊Õ¢ÕßÀ≈—°∑√—æ¬å‡º◊ËÕ¢“¬¥—ßπ’È

(Àπà«¬: ∫“∑)ß∫°“√‡ß‘π√«¡/ß∫°“√‡ß‘π‡©æ“–°‘®°“√

√“§“μ“¡∫—≠™’ 8,600,000

¡Ÿ≈§à“¬ÿμ‘∏√√¡ 8,000,000

à«πμË”°«à“∑ÿπ®“°°“√‡ª≈’Ë¬π·ª≈ß¡Ÿ≈§à“‡ß‘π≈ß∑ÿπ 600,000

9. ∑’Ë¥‘π Õ“§“√·≈–Õÿª°√≥å(Àπà«¬: ∫“∑)

ß∫°“√‡ß‘π√«¡

‡§√◊ËÕßμ°·μàß

à«πª√—∫ª√ÿß ‡§√◊ËÕß¡◊Õ ·≈–‡§√◊ËÕß„™â ß“π√–À«à“ß

∑’Ë¥‘π ‚√ß‰øøÑ“ ‚√ß‰øøÑ“ Õ“§“√ ·≈–Õÿª°√≥å ”π—°ß“π ¬“πæ“Àπ– °àÕ √â“ß √«¡

√“§“∑ÿπ

31 ∏—π«“§¡ 2551 104,871,396 4,636,951,987 327,691,365 67,472,728 65,436,125 61,045,623 21,636,635 158,731,538 5,443,837,397

´◊ÈÕ‡æ‘Ë¡ 97,783,522 13,595,288 - - 2,206,751 4,262,037 805,079 299,975,662 418,628,339

‚Õπ‡¢â“ (ÕÕ°) - 1,278,050 - - 5,100 55,400 - (1,338,550) -

®”Àπà“¬ - - - - - (226,457) - - (226,457)

31 ∏—π«“§¡ 2552 202,654,918 4,651,825,325 327,691,365 67,472,728 67,647,976 65,136,603 22,441,714 457,368,650 5,862,239,279

§à“‡ ◊ËÕ¡√“§“ – ¡

31 ∏—π«“§¡ 2551 - 1,186,635,835 164,894,094 8,758,317 34,534,051 32,794,392 8,228,017 - 1,435,844,706

§à“‡ ◊ËÕ¡√“§“ ”À√—∫ªï - 156,316,615 81,465,441 2,855,169 8,106,407 11,527,409 3,076,413 - 263,347,454

§à“‡ ◊ËÕ¡√“§“-®”Àπà“¬ - - - - - (213,924) - - (213,924)

31 ∏—π«“§¡ 2552 - 1,342,952,450 246,359,535 11,613,486 42,640,458 44,107,877 11,304,430 - 1,698,978,236

¡Ÿ≈§à“ ÿ∑∏‘μ“¡∫—≠™’

31 ∏—π«“§¡ 2551 104,871,396 3,450,316,152 162,797,271 58,714,411 30,902,074 28,251,231 13,408,618 158,731,538 4,007,992,691

31 ∏—π«“§¡ 2552 202,654,918 3,308,872,875 81,331,830 55,859,242 25,007,518 21,028,726 11,137,284 457,368,650 4,163,261,043

§à“‡ ◊ËÕ¡√“§“ ”À√—∫ªï

2551 (®”π«π 233 ≈â“π∫“∑ √«¡Õ¬Ÿà„πμâπ∑ÿπ°“√º≈‘μ à«π∑’Ë‡À≈◊Õ√«¡Õ¬Ÿà„π§à“„™â®à“¬„π°“√∫√‘À“√) 251,602,096



111


As at 31 December 2009, the Company has outstanding available-for-sales securities as below.

(Unit: Baht)Consolidated/

separate financial statements

Book value 8,600,000

Fair value 8,000,000

Revaluation deficit on changes in value of investments 600,000

9. Property, plant and equipment

(Unit: Baht)Consolidated financial statements

Furniture,

fixtures

Power Power plant Tools and and office Motor Construction

Land plant improvement Buildings equipment equipment vehicles in progress Total

Cost

31 December 2008 104,871,396 4,636,951,987 327,691,365 67,472,728 65,436,125 61,045,623 21,636,635 158,731,538 5,443,837,397

Acquisition 97,783,522 13,595,288 - - 2,206,751 4,262,037 805,079 299,975,662 418,628,339

Transfer in (out) - 1,278,050 - - 5,100 55,400 - (1,338,550) -

Disposals - - - - - (226,457) - - (226,457)

31 December 2009 202,654,918 4,651,825,325 327,691,365 67,472,728 67,647,976 65,136,603 22,441,714 457,368,650 5,862,239,279

Accumulated depreciation

31 December 2008 - 1,186,635,835 164,894,094 8,758,317 34,534,051 32,794,392 8,228,017 - 1,435,844,706

Depreciation for - 156,316,615 81,465,441 2,855,169 8,106,407 11,527,409 3,076,413 - 263,347,454

the year

Depreciation on - - - - - (213,924) - - (213,924)

disposals

31 December 2009 - 1,342,952,450 246,359,535 11,613,486 42,640,458 44,107,877 11,304,430 - 1,698,978,236

Net book value

31 December 2008 104,871,396 3,450,316,152 162,797,271 58,714,411 30,902,074 28,251,231 13,408,618 158,731,538 4,007,992,691

31 December 2009 202,654,918 3,308,872,875 81,331,830 55,859,242 25,007,518 21,028,726 11,137,284 457,368,650 4,163,261,043

Depreciation for the year2008 (Baht 233 million included in manufacturing cost, and the balance in administrative expenses) 251,602,0962009 (Baht 243 million included in manufacturing cost, and the balance in administrative expenses) 263,347,454

112

(Àπà«¬: ∫“∑)ß∫°“√‡ß‘π√«¡

‡§√◊ËÕßμ°·μàß

à«πª√—∫ª√ÿß ‡§√◊ËÕß¡◊Õ ·≈–‡§√◊ËÕß„™â ß“π√–À«à“ß

∑’Ë¥‘π ‚√ß‰øøÑ“ ‚√ß‰øøÑ“ Õ“§“√ ·≈–Õÿª°√≥å ”π—°ß“π ¬“πæ“Àπ– °àÕ √â“ß √«¡

√“§“∑ÿπ

31 ∏—π«“§¡ 2551 104,871,396 4,636,951,987 327,691,365 52,098,708 45,166,542 56,390,385 17,080,522 1,278,051 5,241,528,956

´◊ÈÕ‡æ‘Ë¡ - 13,595,288 - - 1,061,276 3,047,002 721,584 7,363,673 25,788,823

‚Õπ‡¢â“ (ÕÕ°) - 1,278,050 - - - - - (1,278,050) -

®”Àπà“¬ - - - - - (226,457) - - (226,457)

31 ∏—π«“§¡ 2552 104,871,396 4,651,825,325 327,691,365 52,098,708 46,227,818 59,210,930 17,802,106 7,363,674 5,267,091,322

§à“‡ ◊ËÕ¡√“§“ – ¡

31 ∏—π«“§¡ 2551 - 1,186,635,835 164,894,094 8,062,552 31,405,693 31,605,514 7,101,101 - 1,429,704,789

§à“‡ ◊ËÕ¡√“§“ ”À√—∫ªï - 156,316,615 81,465,441 2,086,468 4,751,192 10,278,140 2,159,671 - 257,057,527

§à“‡ ◊ËÕ¡√“§“-®”Àπà“¬ - - - - - (213,924) - - (213,924)

31 ∏—π«“§¡ 2552 - 1,342,952,450 246,359,535 10,149,020 36,156,885 41,669,730 9,260,772 - 1,686,548,392

¡Ÿ≈§à“ ÿ∑∏‘μ“¡∫—≠™’

31 ∏—π«“§¡ 2551 104,871,396 3,450,316,152 162,797,271 44,036,156 13,760,849 24,784,871 9,979,421 1,278,051 3,811,824,167

31 ∏—π«“§¡ 2552 104,871,396 3,308,872,875 81,331,830 41,949,688 10,070,933 17,541,200 8,541,334 7,363,674 3,580,542,930

§à“‡ ◊ËÕ¡√“§“ ”À√—∫ªï



≥ «—π∑’Ë 31 ∏—π«“§¡ 2552 ∫√‘…—∑œ¡’Õÿª°√≥å®”π«πÀπ÷Ëß ÷Ëßμ—¥§à“‡ ◊ËÕ¡√“§“À¡¥·≈â«·μà¬—ß„™âß“πÕ¬Ÿà √“§“∑ÿπ¢Õß ‘π∑√—æ¬å

¥—ß°≈à“«¡’®”π«π‡ß‘πª√–¡“≥ 37 ≈â“π∫“∑ (2551: ®”π«π 30 ≈â“π∫“∑)

∫√‘…—∑œ ‰¥â®¥®”πÕß∑’Ë¥‘π ‚√ß‰øøÑ“·≈–Õ“§“√∑—ÈßÀ¡¥¢Õß∫√‘…—∑œ √«¡∂÷ß∑’Ë¥‘πæ√âÕ¡ ‘Ëßª≈Ÿ° √â“ß¢Õß∫√‘…—∑¬àÕ¬·ÀàßÀπ÷Ëß ‡æ◊ËÕ§È”

ª√–°—π ‘π‡™◊ËÕ∑’Ë‰¥â√—∫®“°∏π“§“√æ“≥‘™¬åμ“¡∑’Ë°≈à“«‰«â„πÀ¡“¬‡Àμÿª√–°Õ∫ß∫°“√‡ß‘π¢âÕ 11

10. μâπ∑ÿπ°“√ª≈Ÿ°æ◊™æ≈—ßß“π∫√‘…—∑¬àÕ¬¢Õß∫√‘…—∑œ¡’μâπ∑ÿπ°“√ª≈Ÿ°æ◊™æ≈—ßß“π ÷Ëßª√–°Õ∫¥â«¬ μâπ∑ÿπ„π°“√ª√—∫ª√ÿß∑’Ë¥‘π §à“°≈â“‰¡â ·≈–§à“„™â®à“¬„π°“√ª≈Ÿ°

´÷Ëß‡°‘¥¢÷Èπ°àÕπ∑’Ë®– “¡“√∂μ—¥æ◊™æ≈—ßß“π‰ª„™âª√–‚¬™πå‰¥â μâπ∑ÿπ¥—ß°≈à“«· ¥ß‡ªìπ ‘π∑√—æ¬å„π√“§“∑ÿπ·≈–®–∂Ÿ°μ—¥®”Àπà“¬μ“¡

®”π«πº≈º≈‘μ∑’Ë°‘®°“√®–π”‰ª„™âª√–‚¬™πå ·≈–μ—¥‡ªìπ§à“„™â®à“¬ ”À√—∫μâπ∑ÿπ°“√ª≈Ÿ°„πæ◊Èπ∑’Ë∑’Ë‰¡à‰¥âº≈º≈‘μÀ√◊Õ‡°‘¥§«“¡‡ ’¬À“¬


113


(Unit: Baht)

Separate financial statements

Furniture,

fixtures

Power Power plant Tools and and office Motor Construction

Land plant improvement Buildings equipment equipment vehicles in progress Total

Cost

31 December 2008 104,871,396 4,636,951,987 327,691,365 52,098,708 45,166,542 56,390,385 17,080,522 1,278,051 5,241,528,956

Acquisition - 13,595,288 - - 1,061,276 3,047,002 721,584 7,363,673 25,788,823

Transfer in (out) - 1,278,050 - - - - - (1,278,050) -

Disposals - - - - - (226,457) - - (226,457)

31 December 2009 104,871,396 4,651,825,325 327,691,365 52,098,708 46,227,818 59,210,930 17,802,106 7,363,674 5,267,091,322

Accumulated depreciation

31 December 2008 - 1,186,635,835 164,894,094 8,062,552 31,405,693 31,605,514 7,101,101 - 1,429,704,789

Depreciation for - 156,316,615 81,465,441 2,086,468 4,751,192 10,278,140 2,159,671 - 257,057,527

the year

Depreciation on - - - - - (213,924) - - (213,924)

disposals

31 December 2009 - 1,342,952,450 246,359,535 10,149,020 36,156,885 41,669,730 9,260,772 - 1,686,548,392

Net book value

31 December 2008 104,871,396 3,450,316,152 162,797,271 44,036,156 13,760,849 24,784,871 9,979,421 1,278,051 3,811,824,167

31 December 2009 104,871,396 3,308,872,875 81,331,830 41,949,688 10,070,933 17,541,200 8,541,334 7,363,674 3,580,542,930

Depreciation for the year2008 (Baht 233 million included in manufacturing cost, and the balance in administrative expenses) 246,912,0672009 (Baht 243 million included in manufacturing cost, and the balance in administrative expenses) 257,057,527

As at 31 December 2009, certain plant and equipment items have been fully depreciated but are still in use.The original cost of those assets amounted to approximately Baht 37 million (2008: Baht 30 million).

All of the land, power plant and buildings of the Company and a subsidiaryûs land with structures thereon have beenmortgaged as collateral for credit facilities granted by a commercial bank as stated in Note 11 to the financialstatements.

10. Project cost of energy plant farmingThe subsidiary of the Company incurred costs of an energy plant farming project, which comprise costs of landimprovement, seedlings, and planting, which were incurred before the energy plant can be harvested for use. Suchexpenditures are recognised as assets at cost and are to be amortized according to the amount of produce utilised.Costs of planting in areas that are not productive or are damaged are written off to expenses.

114

11. ‡ß‘π°Ÿâ¬◊¡√–¬–¬“«(Àπà«¬: ∫“∑)

ß∫°“√‡ß‘π√«¡/ß∫°“√‡ß‘π‡©æ“–°‘®°“√

‡ß‘π°Ÿâ Õ—μ√“¥Õ°‡∫’È¬ (√âÕ¬≈–) ‡ß◊ËÕπ‰¢°“√™”√–§◊π 2551 2550

1 √âÕ¬≈– 4.375 μàÕªï μ—Èß·μà‡¥◊Õπæƒ…¿“§¡ ™”√–§◊π‡ªìπ√“¬ß«¥∑ÿ°§√÷Ëßªï 1,851,900,000 1,901,900,0002551 ®π∂÷ß‡¥◊Õπ‡¡…“¬π 2554 ·≈– MLR μ—Èß·μà‡¥◊Õπ∏—π«“§¡ 2546≈∫√âÕ¬≈– 1.5 μàÕªï μ—Èß·μà‡¥◊Õπæƒ…¿“§¡ ®π∂÷ß‡¥◊Õπ¡‘∂ÿπ“¬π 25592554 ®π§√∫°”Àπ¥Õ“¬ÿ —≠≠“

2 √âÕ¬≈– 4.375 μàÕªï μ—Èß·μà‡¥◊Õπæƒ…¿“§¡ ™”√–§◊π‡ªìπ√“¬ß«¥∑ÿ°§√÷Ëßªï 665,200,000 685,200,0002551 ®π∂÷ß‡¥◊Õπ‡¡…“¬π 2554 ·≈– MLR μ—Èß·μà‡¥◊Õπ¡‘∂ÿπ“¬π 2549≈∫√âÕ¬≈– 1.5 μàÕªï μ—Èß·μà‡¥◊Õπæƒ…¿“§¡ ®π∂÷ß‡¥◊Õπ∏—π«“§¡ 25592554 ®π§√∫°”Àπ¥Õ“¬ÿ —≠≠“

3 √âÕ¬≈– MLR ≈∫Õ—μ√“§ß∑’Ëμ“¡∑’Ë√–∫ÿ ™”√–§◊π‡ªìπ√“¬ß«¥∑ÿ°§√÷Ëßªï 90,000,000 -„π —≠≠“ μ—Èß·μà‡¥◊Õπ¡‘∂ÿπ“¬π 2554

®π∂÷ß‡¥◊Õπ∏—π«“§¡ 2563√«¡ 2,607,100,000 2,587,100,000À—°: à«π∑’Ë∂÷ß°”Àπ¥™”√–¿“¬„πÀπ÷Ëßªï (80,000,000) (70,000,000)‡ß‘π°Ÿâ¬◊¡√–¬–¬“« - ÿ∑∏‘®“° à«π∑’Ë∂÷ß°”Àπ¥™”√–¿“¬„πÀπ÷Ëßªï 2,527,100,000 2,517,100,000

—≠≠“‡ß‘π°Ÿâ¬◊¡¡’¢âÕ®”°—¥À≈“¬ª√–°“√´÷Ëß∫√‘…—∑œ μâÕßªØ‘∫—μ‘μ“¡‰¥â·°à °“√¥”√ßÕ—μ√“ à«π∑“ß°“√‡ß‘π·≈–°“√®à“¬‡ß‘πªíπº≈ ‡ªìπμâπ

‡ß‘π°Ÿâ¬◊¡√–¬–¬“«∑—ÈßÀ¡¥§È”ª√–°—π‚¥¬°“√®¥®”πÕß∑’Ë¥‘π ‚√ß‰øøÑ“·≈–Õ“§“√∑—ÈßÀ¡¥¢Õß ∫√‘…—∑œ √«¡∂÷ß°“√®¥®”πÕß∑’Ë¥‘πæ√âÕ¡ ‘Ëßª≈Ÿ° √â“ß¢Õß∫√‘…—∑¬àÕ¬·ÀàßÀπ÷Ëß·≈–°“√∑”¢âÕμ°≈ß®–®¥®”πÕß‡§√◊ËÕß®—°√¢Õß∫√‘…—∑¬àÕ¬π—Èπ

≥ «—π∑’Ë 31 ∏—π«“§¡ 2552 ∫√‘…—∑œ ¡’«ß‡ß‘π°Ÿâ¬◊¡√–¬–¬“«μ“¡ —≠≠“‡ß‘π°Ÿâ∑’Ë¬—ß¡‘‰¥â‡∫‘°„™â‡ªìπ®”π«π 510 ≈â“π∫“∑

12. ”√Õßμ“¡°ÆÀ¡“¬‡æ◊ËÕ„Àâ‡ªìπ‰ªμ“¡¡“μ√“ 116 ·Ààßæ√–√“™∫—≠≠—μ‘∫√‘…—∑¡À“™π®”°—¥ æ.». 2535 ∫√‘…—∑œμâÕß®—¥ √√°”‰√ ÿ∑∏‘ª√–®”ªï à«πÀπ÷Ëß‰«â‡ªìπ∑ÿπ ”√Õß‰¡àπâÕ¬°«à“√âÕ¬≈– 5 ¢Õß°”‰√ ÿ∑∏‘ª√–®”ªïÀ—°¥â«¬¬Õ¥¢“¥∑ÿπ – ¡¬°¡“ (∂â“¡’) ®π°«à“∑ÿπ ”√Õßπ’È®–¡’®”π«π‰¡àπâÕ¬°«à“√âÕ¬≈– 10 ¢Õß∑ÿπ®¥∑–‡∫’¬π ”√Õßμ“¡°ÆÀ¡“¬¥—ß°≈à“«‰¡à “¡“√∂π”‰ª®à“¬‡ß‘πªíπº≈‰¥â

13. §à“„™â®à“¬μ“¡≈—°…≥–√“¬°“√§à“„™â®à“¬μ“¡≈—°…≥–∑’Ë ”§—≠‰¥â·°à

(Àπà«¬: ∫“∑)ß∫°“√‡ß‘π√«¡ ß∫°“√‡ß‘π‡©æ“–°‘®°“√

2552 2551 2552 2551

§à“‡™◊ÈÕ‡æ≈‘ß·≈–æ≈—ßß“π 2,038,594,098 2,039,206,929 2,038,594,098 2,039,206,929

§à“‡ ◊ËÕ¡√“§“ 263,347,454 251,602,096 257,057,527 246,912,067

§à“∫”√ÿß√—°…“·≈– àÕ¡·´¡‚√ß‰øøÑ“ 87,240,695 106,566,736 87,240,695 106,566,736

§à“∫√‘°“√®—¥°“√‚√ß‰øøÑ“ 73,431,351 70,251,701 73,431,351 70,251,701

§à“‡™à“®à“¬ 78,431,213 78,061,238 78,062,380 77,915,038

‡ß‘π‡¥◊Õπ·≈–º≈ª√–‚¬™πåÕ◊Ëπ¢Õßæπ—°ß“π 38,064,429 42,349,030 33,101,097 32,222,088

§à“‡∫’È¬ª√–°—π¿—¬ 19,789,007 18,132,646 19,442,028 17,968,182


115


11. Long-term loans (Unit: Baht)

Consolidated/Separate financial statements

Loans Interest rate (%) Repayment conditions 2009 2008

1 4.375% per annum from May 2008 semi-annual installments from 1,851,900,000 1,901,900,000until April 2011, and MLR minus December 2003 to June 20161.5% per annum from May 2011until the final maturity date of theagreement.

2 4.375% per annum from May 2008 semi-annual installments from 665,200,000 685,200,000until April 2011, and MLR minus June 2006 to December 20161.5% per annum from May 2011until the final maturity date of theagreement.

3 MLR minus a fixed percentage semi-annual installments from 90,000,000 -specified in the agreement June 2011 to December 2020

Total 2,607,100,000 2,587,100,000Less: Current portion of long-term loans (80,000,000) (70,000,000)Long-term loans - net of current portion 2,527,100,000 2,517,100,000

The loan agreements contain various covenants relating to the maintenance of financial ratios and the paymentof dividends.

These long-term loans are secured by the mortgage of all of the land, power plant and buildings of the Company,a subsidiaryûs land with structures thereon, and an agreement to mortgage machinery of the subsidiary.

As at 31 December 2009, the long-term credit facilities of the Company which have not yet been drawn downamounted to Baht 510 million.

12. Statutory reservePursuant to Section 116 of the Public Limited Companies Act B.E. 2535, the Company is required to set aside toa statutory reserve at least 5 percent of its net income after deducting accumulated deficit brought forward (if any),until the reserve reaches 10 percent of the registered capital. The statutory reserve is not available for dividenddistribution.

13. Expenses by natureSignificant expenses by nature are as follow:

(Unit: Baht)Consolidated Separate

financial statements financial statements2009 2008 2009 2008

Fuel and energy costs 2,038,594,098 2,039,206,929 2,038,594,098 2,039,206,929Depreciation 263,347,454 251,602,096 257,057,527 246,912,067Plant maintenance and repairing costs 87,240,695 106,566,736 87,240,695 106,566,736Operation services of the power plant 73,431,351 70,251,701 73,431,351 70,251,701Rental expenses 78,431,213 78,061,238 78,062,380 77,915,038Salary and other employee benefits 38,064,429 42,349,030 33,101,097 32,222,088Insurance expenses 19,789,007 18,132,646 19,442,028 17,968,182

116

14. ¿“…’‡ß‘π‰¥âπ‘μ‘∫ÿ§§≈¿“…’‡ß‘π‰¥âπ‘μ‘∫ÿ§§≈ ”À√—∫ªï§”π«≥¢÷Èπ®“°°”‰√°àÕπ¿“…’‡ß‘π‰¥â¢Õß à«πß“π∑’Ë‰¡à‰¥â√—∫°“√ àß‡ √‘¡ À≈—ß®“°∫«°°≈—∫¥â«¬§à“

„™â®à“¬μà“ßÊ ∑’Ë‰¡àÕπÿ≠“μ„Àâ∂◊Õ‡ªìπ√“¬®à“¬„π°“√§”π«≥¿“…’

15. °“√ àß‡ √‘¡°“√≈ß∑ÿπ∫√‘…—∑œ ‰¥â√—∫ ‘∑∏‘æ‘‡»…∑“ß¿“…’®“°§≥–°√√¡°“√ àß‡ √‘¡°“√≈ß∑ÿπ ”À√—∫°‘®°“√º≈‘μæ≈—ßß“π‰øøÑ“·≈–‰ÕπÈ” μ“¡∫—μ√ àß‡ √‘¡

°“√≈ß∑ÿπ‡≈¢∑’Ë 1697/2540 ‡≈¢∑’Ë 1403(1)/2544 ·≈–‡≈¢∑’Ë 1434(2)/2547 ¿“¬„μâ‡ß◊ËÕπ‰¢∑’Ë°”Àπ¥∫“ßª√–°“√ ‘∑∏‘æ‘‡»…

¥—ß°≈à“«√«¡∂÷ß°“√‰¥â√—∫¬°‡«âπ¿“…’‡ß‘π‰¥âπ‘μ‘∫ÿ§§≈ ”À√—∫°”‰√ ÿ∑∏‘∑’Ë‰¥â®“°°“√ª√–°Õ∫°‘®°“√∑’Ë‰¥â√—∫°“√ àß‡ √‘¡‡ªìπ√–¬–‡«≈“

8 ªïπ—∫μ—Èß·μà«—π∑’Ë‡√‘Ë¡¡’√“¬‰¥â®“°°“√ª√–°Õ∫°‘®°“√π—Èπ («—π∑’Ë 17 ¡’π“§¡ 2542 ·≈– 19 æƒ»®‘°“¬π 2545 ·≈– 21 ‡¡…“¬π

2548 μ“¡≈”¥—∫)

‘∑∏‘æ‘‡»…¢Õß°“√¬°‡«âπ¿“…’‡ß‘π‰¥âπ‘μ‘∫ÿ§§≈¢Õß∫—μ√ àß‡ √‘¡°“√≈ß∑ÿπ‡≈¢∑’Ë 1697/2540 ‰¥â ‘Èπ ÿ¥≈ß·≈â«‡¡◊ËÕ«—π∑’Ë 16 ¡’π“§¡ 2550

∫√‘…—∑¬àÕ¬¢Õß∫√‘…—∑œ ‰¥â√—∫ ‘∑∏‘æ‘‡»…∑“ß¿“…’®“°§≥–°√√¡°“√ àß‡ √‘¡°“√≈ß∑ÿπ ”À√—∫°‘®°“√º≈‘μæ≈—ßß“π‰øøÑ“·≈–‰ÕπÈ”

μ“¡∫—μ√ àß‡ √‘¡°“√≈ß∑ÿπ‡≈¢∑’Ë 1414(9)/2550 ·≈–‡≈¢∑’Ë 1563(1)/2552 ¿“¬„μâ‡ß◊ËÕπ‰¢∑’Ë°”Àπ¥∫“ßª√–°“√ ‘∑∏‘æ‘‡»…¥—ß°≈à“«

√«¡∂÷ß°“√‰¥â√—∫¬°‡«âπ¿“…’‡ß‘π‰¥âπ‘μ‘∫ÿ§§≈ ”À√—∫°”‰√ ÿ∑∏‘∑’Ë ‰¥â®“°°“√ª√–°Õ∫°‘®°“√∑’Ë‰¥â√—∫°“√ àß‡ √‘¡‡ªìπ√–¬–‡«≈“ 8 ªï

π—∫·μà«—π∑’Ë‡√‘Ë¡¡’√“¬‰¥â®“°°“√ª√–°Õ∫°‘®°“√π—Èπ ≥ «—π∑’Ë„πß∫¥ÿ≈ ∫√‘…—∑¬àÕ¬¬—ß¡‘‰¥â¡’√“¬‰¥â®“°°“√ª√–°Õ∫°‘®°“√¥—ß°≈à“«

√“¬‰¥â¢Õß∫√‘…—∑œ ”À√—∫ªï®”·π°μ“¡°‘®°“√∑’Ë‰¥â√—∫°“√ àß‡ √‘¡°“√≈ß∑ÿπ·≈–‰¡à‰¥â√—∫°“√ àß‡ √‘¡°“√≈ß∑ÿπ “¡“√∂ √ÿª‰¥â

¥—ßμàÕ‰ªπ’È

(Àπà«¬: æ—π∫“∑)°‘®°“√∑’Ë‰¥â√—∫°“√ àß‡ √‘¡ °‘®°“√∑’Ë‰¡à‰¥â√—∫°“√ àß‡ √‘¡ √«¡

2552 2551 2552 2551 2552 2551

√“¬‰¥â®“°°“√¢“¬ 1,304,740 1,251,097 1,737,124 1,797,645 3,041,864 3,048,742

16. °”‰√μàÕÀÿâπ°”‰√μàÕÀÿâπ¢—Èπæ◊Èπ∞“π§”π«≥‚¥¬À“√°”‰√ ÿ∑∏‘ ”À√—∫ªï¥â«¬®”π«π∂—«‡©≈’Ë¬∂à«ßπÈ”Àπ—°¢ÕßÀÿâπ “¡—≠∑’ËÕÕ°Õ¬Ÿà„π√–À«à“ßªï

17. ¢âÕ¡Ÿ≈∑“ß°“√‡ß‘π®”·π°μ“¡ à«πß“π∫√‘…—∑œ ¥”‡π‘π°‘®°“√„π à«πß“π∑“ß∏ÿ√°‘®‡¥’¬«§◊Õ º≈‘μ·≈–®”Àπà“¬æ≈—ßß“π‰øøÑ“·≈–‰ÕπÈ” ÷Ëß¥”‡π‘π∏ÿ√°‘®„π à«πß“π∑“ß¿Ÿ¡‘»“ μ√å

‡¥’¬«§◊Õª√–‡∑»‰∑¬ ¥—ßπ—Èπ √“¬‰¥â °”‰√ ·≈– ‘π∑√—æ¬å∑—ÈßÀ¡¥∑’Ë· ¥ß„πß∫°“√‡ß‘π®÷ß‡°’Ë¬«¢âÕß°—∫ à«πß“π∏ÿ√°‘®·≈– à«πß“π∑“ß

¿Ÿ¡‘»“ μ√å‡¥’¬«μ“¡∑’Ë°≈à“«‰«â¢â“ßμâπ

18. °Õß∑ÿπ ”√Õß‡≈’È¬ß™’æ∫√‘…—∑œ ·≈–æπ—°ß“π∫√‘…—∑œ‰¥â√à«¡°—π®—¥μ—Èß°Õß∑ÿπ ”√Õß‡≈’È¬ß™’æ¢÷Èπμ“¡æ√–√“™∫—≠≠—μ‘°Õß∑ÿπ ”√Õß‡≈’È¬ß™’æ æ.». 2530

‚¥¬∫√‘…—∑œ ·≈–æπ—°ß“π®–®à“¬ ¡∑∫‡¢â“°Õß∑ÿπ‡ªìπ√“¬‡¥◊Õπ„πÕ—μ√“√âÕ¬≈– 3 ¢Õß‡ß‘π‡¥◊Õπ °Õß∑ÿπ ”√Õß‡≈’È¬ß™’æπ’È∫√‘À“√

‚¥¬∏π“§“√‰∑¬∏π“§“√ ®”°—¥ (¡À“™π) ·≈–®–®à“¬„Àâ·°àæπ—°ß“π‡¡◊ËÕæπ—°ß“ππ—ÈπÕÕ°®“°ß“πμ“¡√–‡∫’¬∫«à“¥â«¬°Õß∑ÿπ

¢Õß∫√‘…—∑œ „π√–À«à“ßªï 2552 ∫√‘…—∑œ·≈–∫√‘…—∑¬àÕ¬‰¥â®à“¬‡ß‘π ¡∑∫°Õß∑ÿπ‡ªìπ®”π«π‡ß‘π 610,944 ∫“∑ (2551: ®”π«π

925,290 ∫“∑)


117


14. Corporate income taxCorporate income tax for the year is calculated on income before income tax from operations not grantedBOI promotional privileges, after adding back certain expenses which are disallowable for tax computation purposes.

15. Promotional privilegesThe Company has received promotional privileges from the Board of Investment for the production of electricityand steam, pursuant to the promotion certificate No. 1697/2540, 1403(1)/2544 and 1434(2)/2547. Subject to certainimposed condition, the privileges include an exemption from corporate income tax for a period of 8 years fromthe date the promoted activity commenced generating revenues (17 March 1999, 19 November 2002 and 21 April2005, respectively).

The corporate income tax privileges of the certificate No.1697/2540 was expired on 16 March 2007.

Its subsidiary has received promotional privileges from the Board of Investment for the production of electricityand steam, pursuant to the promotion certificate No. 1414(9)/2550 and 1563(1)/2552. Subject to certain imposedcondition, the privileges include an exemption from corporate income tax for a period of 8 years from the datethe promoted activity commenced generating revenues. As at the balance sheet date, the subsidiary has notgenerated revenues from the promoted activity.

Revenues of the Company for the years are below divided between BOI promoted activities and non-BOI promotedactivities.

(Unit: Thousand Baht)BOI promoted Non-BOI promoted Total

2009 2008 2009 2008 2009 2008

Sales 1,304,740 1,251,097 1,737,124 1,797,645 3,041,864 3,048,742

16. Earnings per shareBasic earnings per share is calculated by dividing net income for the year by the weighted average number of ordinaryshares in issue during the year.

17. Financial information by segmentThe Companyûs operations involve a single business segment in manufacturing and distributing of electricity andsteam and are carried on in the single geographic area of Thailand. As a result, all of the revenues, operatingprofits and assets reflected in these financial statements pertain to the aforementioned business segment andgeographic area.

18. Provident fundThe Company and its employees have jointly established a provident fund in accordance with the Provident FundAct B.E. 2530. Both employees and the Company contributed to the fund monthly at the rate of 3 percent ofbasic salary. The fund, which is managed by BankThai Public Company Limited, will be paid to employees upontermination in accordance with the fund rules. During the year 2009, the Company and its subsidiary contributedBaht 610,944 (2008:Baht 925,290) to the fund.

118

19. ‡ß‘πªíπº≈®à“¬

Õπÿ¡—μ‘‚¥¬ √«¡‡ß‘πªíπº≈ ‡ß‘πªíπº≈μàÕÀÿâπ

≈â“π∫“∑ ∫“∑

‡ß‘πªíπº≈ª√–®”ªï 2551 ∑’Ëª√–™ÿ¡„À≠à “¡—≠ºŸâ∂◊ÕÀÿâπ‡¡◊ËÕ«—π∑’Ë 28 ‡¡…“¬π 2552 143.25 0.15

√«¡‡ß‘πªíπº≈®à“¬„πªï 2552 143.25 0.15

‡ß‘πªíπº≈ª√–®”ªï 2550 ∑’Ëª√–™ÿ¡„À≠à “¡—≠ºŸâ∂◊ÕÀÿâπ‡¡◊ËÕ«—π∑’Ë 28 ¡’π“§¡ 2551 286.50 0.30

√«¡‡ß‘πªíπº≈®à“¬„πªï 2551 286.50 0.30

20. ¿“√–ºŸ°æ—π20.1 —≠≠“¢“¬‰øøÑ“

‡¡◊ËÕ«—π∑’Ë 19 ∏—π«“§¡ 2540 ∫√‘…—∑œ‰¥â∑” —≠≠“¢“¬‰øøÑ“°—∫°“√‰øøÑ“ΩÉ“¬º≈‘μ·Ààßª√–‡∑»‰∑¬ (°øº.) μ“¡®”π«π·≈–

√“§“∑’Ë°”Àπ¥‰«â„π —≠≠“ —≠≠“¥—ß°≈à“«¡’√–¬–‡«≈“ 25 ªï ·≈–®– ‘Èπ ÿ¥ —≠≠“„π‡¥◊Õπ‡¡…“¬π 2567

„π‡¥◊Õπ¡’π“§¡ 2552 ∫√‘…—∑ À‚§‡®π °√’π ®”°—¥ ‰¥â∑” —≠≠“¢“¬‰øøÑ“°—∫°“√‰øøÑ“ à«π¿Ÿ¡‘¿“§ (°ø¿.) μ“¡®”π«π

·≈–√“§“∑’Ë°”Àπ¥‰«â„π —≠≠“ ‚¥¬ —≠≠“«à“®–‡√‘Ë¡¢“¬‰øøÑ“„Àâ°ø¿.¿“¬„π‡¥◊Õπ°√°Æ“§¡ 2553 —≠≠“¥—ß°≈à“«¡’

√–¬–‡«≈“ 5 ªïπ—∫μ—Èß·μà«—π∑’Ë 25 ¡’π“§¡ 2552 ‡‡≈–μàÕ —≠≠“‚¥¬Õ—μ‚π¡—μ‘§√—Èß≈– 5 ªï ®π°«à“®–¡’°“√¬ÿμ‘ —≠≠“

„π‡¥◊Õπ°—π¬“¬π 2552 ∫√‘…—∑ À°√’π øÕ‡√ ∑å ®”°—¥ ‰¥â∑” —≠≠“¢“¬‰øøÑ“°—∫°“√‰øøÑ“ à«π¿Ÿ¡‘¿“§ (°ø¿.) μ“¡®”π«π

·≈–√“§“∑’Ë°”Àπ¥‰«â„π —≠≠“ ‚¥¬ —≠≠“«à“®–‡√‘Ë¡¢“¬‰øøÑ“„Àâ°ø¿.¿“¬„π‡¥◊Õπ ‘ßÀ“§¡ 2555 —≠≠“¥—ß°≈à“«¡’√–¬–‡«≈“

5 ªïπ—∫μ—Èß·μà«—π∑’Ë 10 °—π¬“¬π 2552 ‡‡≈–μàÕ —≠≠“‚¥¬Õ—μ‚π¡—μ‘§√—Èß≈– 5 ªï ®π°«à“®–¡’°“√¬ÿμ‘ —≠≠“

20.2 —≠≠“¢“¬‰øøÑ“·≈–‰ÕπÈ”

„πªï 2540 ∫√‘…—∑œ ‰¥â∑” —≠≠“¢“¬°√–· ‰øøÑ“·≈–æ≈—ßß“π‰ÕπÈ”°—∫∫√‘…—∑ Àæ—≤π“Õ‘π‡μÕ√å ‚Œ≈¥‘Èß ®”°—¥ (¡À“™π)

μ“¡®”π«π·≈–√“§“∑’Ë°”Àπ¥‰«â„π —≠≠“ —≠≠“¥—ß°≈à“«¡’√–¬–‡«≈“ 15 ªï ·≈–®– ‘Èπ ÿ¥ —≠≠“„π‡¥◊Õπ¡’π“§¡ 2557

20.3 —≠≠“´◊ÈÕ°ä“´∏√√¡™“μ‘

∫√‘…—∑œ ¡’¿“√–ºŸ°æ—πμ“¡ —≠≠“ ◊ÈÕ°ä“´∏√√¡™“μ‘°—∫∫√‘…—∑ ªμ∑. ®”°—¥ (¡À“™π) μ“¡®”π«π·≈–√“§“∑’Ë°”Àπ¥‰«â„π —≠≠“

‡ªìπ√–¬–‡«≈“ 21 ªï ·≈–®– ‘Èπ ÿ¥ —≠≠“„π‡¥◊Õπ¡’π“§¡ 2563 ‚¥¬ “¡“√∂μàÕÕ“¬ÿ —≠≠“‰¥âÕ’° 4 ªï

20.4 —≠≠“√—∫∫√‘°“√¥â“π°“√®—¥°“√‡°’Ë¬«°—∫°“√¥”‡π‘πß“π·≈–´àÕ¡∫”√ÿß

„πªï 2549 ∫√‘…—∑œ ‰¥â∑” —≠≠“°—∫∫√‘…—∑ ÕÕªÕ‡√™—ËππÕ≈ ‡ÕÁπ‡πÕ√å¬’Ë °√ÿäª ®”°—¥ ‡æ◊ËÕ√—∫∫√‘°“√¥â“π°“√®—¥°“√·≈–√—∫§”

·π–π”‡°’Ë¬«°—∫°“√¥”‡π‘πß“π·≈–´àÕ¡∫”√ÿß‚√ß‰øøÑ“ ‚¥¬§à“∫√‘°“√‡ªìπ‰ªμ“¡√“§“∑’Ë°”Àπ¥‰«â„π —≠≠“ —≠≠“¥—ß°≈à“«

¡’°”Àπ¥ ‘Èπ ÿ¥«—π∑’Ë 31 ∏—π«“§¡ 2554

20.5 —≠≠“´◊ÈÕ¢“¬πÈ”¥‘∫

∫√‘…—∑œ ¡’¿“√–ºŸ°æ—πμ“¡ —≠≠“ ◊ÈÕπÈ”¥‘∫°—∫∫√‘…—∑·ÀàßÀπ÷Ëß ‡æ◊ËÕ´◊ÈÕπÈ”¥‘∫μ“¡®”π«π·≈–√“§“∑’Ë°”Àπ¥‰«â„π —≠≠“

‡ªìπ√–¬–‡«≈“ 25 ªï ·≈–®– ‘Èπ ÿ¥ —≠≠“„π‡¥◊Õπ¡’π“§¡ 2567


119


19. Dividend paidDividend

Approved by Total dividends per shareMillion Baht Baht

Final dividend for 2008 Annual General Meeting of the shareholders 143.25 0.15on 28 April 2009

Total dividend paid in 2009 143.25 0.15Final dividend for 2007 Annual General Meeting of the shareholders 286.50 0.30

on 28 March 2008Total dividend paid in 2008 286.50 0.30

20. Commitments20.1 Electricity Sales Agreements

On 19 December 1997 the Company entered into an agreement with the Electricity Generating Authorityof Thailand (EGAT) to sell electricity in a specified quantity and at a stipulated price as defined in theagreement. The agreement period is 25 years and will expire in April 2024.

In March 2009, Sahacogen Green Company Limited entered into an agreement with the ProvincialElectricity Authority (PEA) to sell electricity in a specified quantity and at a stipulated price as defined inthe agreement. The subsidiary agreed to start selling electricity to PEA within July 2010. The agreement isfor a period of 5 years, starting from 25 March 2009, and will automatically renew every 5 years until termination.

In September 2009, Sahagreen Forest Company Limited entered into an agreement with the ProvincialElectricity Authority (PEA) to sell electricity in a specified quantity and at a stipulated price as defined in theagreement. The subsidiary agreed to start selling electricity to PEA within August 2012. The agreement is for aperiod of 5 years, starting from 10 September 2009, and will automatically renew every 5 years until termination.

20.2 Electricity and Steam Sales AgreementsIn 1997, the Company entered into agreements with Saha Pathana Inter-Holding Public Company Limited tosell electricity and steam in a specified quantity and at a stipulated price as defined in the agreements.The agreements period is 15 years and will expire in March 2014.

20.3 Gas Purchase AgreementUnder an agreement with the PTT Public Company Limited (çPTTé), the Company is committed to purchasenatural gas from PTT in a specified quantity and at a stipulated price as defined in the agreement for a periodof 21 years. The agreement will expire in March 2020, however it contains an option to renew for an additionalperiod of 4 years.

20.4 Operation and Service Management AgreementIn 2006, the Company entered into an agreement with Operational Energy Group Limited under which theaffiliate will provide management and advisory services for the operation and maintenance of the power plant,which the Company is committed to pay for at prices as determined in the agreement. The agreement expiredon 31 December 2011.

20.5 Raw Water Purchase AgreementUnder an agreement with a private entity, the Company is committed to purchase raw water in a specifiedquantity and at a stipulated price as defined in the agreement for a period of 25 years. The agreement will expirein March 2024.

120

20.6 —≠≠“‡™à“∑’Ë¥‘π

∫√‘…—∑œ ‰¥â∑” —≠≠“‡™à“∑’Ë¥‘π®”π«π 4,800 μ“√“ß‡¡μ√°—∫∫√‘…—∑ ‘π¿√“¥√ ®”°—¥ ‡ªìπ√–¬–‡«≈“ 3 ªï‚¥¬®à“¬§à“‡™à“

‡¥◊Õπ≈– 144,000 ∫“∑ ‡√‘Ë¡μ—Èß·μà«—π∑’Ë 1 ¡‘∂ÿπ“¬π 2548 ‚¥¬ “¡“√∂μàÕÕ“¬ÿ —≠≠“‰¥â§√“«≈– 3 ªï

∫√‘…—∑¬àÕ¬‰¥â∑” —≠≠“‡™à“∑’Ë¥‘π®”π«π 27.55 ‰√à °—∫∫√‘…—∑ Àæ—≤π“Õ‘π‡μÕ√å ‚Œ≈¥‘Èß ®”°—¥ (¡À“™π) ‚¥¬®à“¬§à“‡™à“

‡¥◊Õπ≈– 434,192 ∫“∑ ‡ªìπ√–¬–‡«≈“ 13 ªï μ—Èß·μà«—π∑’Ë 1 ‡¡…“¬π 2550 ∂÷ß«—π∑’Ë 31 ¡’π“§¡ 2563 Õ¬à“ß‰√°Áμ“¡

∫√‘…—∑¬àÕ¬‰¥â¢Õ¬°‡«âπ§à“‡™à“¥—ß°≈à“«®“°∫√‘…—∑ Àæ—≤π“Õ‘π‡μÕ√å ‚Œ≈¥‘Èß ®”°—¥ (¡À“™π) μ—Èß·μà‡¥◊Õπμÿ≈“§¡ 2550

‡ªìπμâπ‰ª

20.7 —≠≠“‡™à“‡§√◊ËÕß®—°√

∫√‘…—∑œ ‰¥â∑” —≠≠“‡™à“‡§√◊ËÕß®—°√°—∫∫√‘…—∑ ÕÕªÕ‡√™—ËππÕ≈ ‡ÕÁπ‡πÕ√å¬’Ë °√ÿäª ®”°—¥ ‡æ◊ËÕ‡ªìπ‡§√◊ËÕß ”√Õß„π°√≥’∑’Ë

‡§√◊ËÕß®—°√¢Õß∫√‘…—∑œ „™âß“π‰¡à‰¥âμ“¡ª°μ‘ ‚¥¬§à“‡™à“‡ªìπ‰ªμ“¡√“§“∑’Ë°”Àπ¥‰«â„π —≠≠“ —≠≠“¥—ß°≈à“«¡’°”Àπ¥

‘Èπ ÿ¥ ≥ «—π∑’Ë 30 ¡‘∂ÿπ“¬π 2559

20.8 Àπ—ß ◊Õ§È”ª√–°—π∏π“§“√

≥ «—π∑’Ë 31 ∏—π«“§¡ 2552 ¡’Àπ—ß ◊Õ§È”ª√–°—π∑’ËÕÕ°‚¥¬∏π“§“√„ππ“¡¢Õß∫√‘…—∑œ ‡æ◊ËÕª√–°—π°“√ªØ‘∫—μ‘μ“¡‡ß◊ËÕπ‰¢

„π —≠≠“´◊ÈÕ¢“¬‰øøÑ“°—∫°“√‰øøÑ“ΩÉ“¬º≈‘μ·Ààßª√–‡∑»‰∑¬ (°øº.) ‡ªìπ®”π«π‡ß‘πª√–¡“≥ 163 ≈â“π∫“∑ ·≈–¡’Àπ—ß ◊Õ

§È”ª√–°—π∑’ËÕÕ°‚¥¬∏π“§“√„ππ“¡¢Õß∫√‘…—∑œ·≈–∫√‘…—∑¬àÕ¬‡æ◊ËÕ°“√§È”ª√–°—πÕ◊Ëπ‡ªìπ®”π«π 18 ≈â“π∫“∑

20.9 √“¬®à“¬ΩÉ“¬∑ÿπ

≥ «—π∑’Ë 31 ∏—π«“§¡ 2552 ∫√‘…—∑¬àÕ¬¡’¿“√–ºŸ°æ—π√“¬®à“¬ΩÉ“¬∑ÿπ‡°’Ë¬«°—∫°“√°àÕ √â“ß‚√ß‰øøÑ“‡ªìπ®”π«π‡ß‘πª√–¡“≥

387 ≈â“π∫“∑

21. ‡§√◊ËÕß¡◊Õ∑“ß°“√‡ß‘π21.1 π‚¬∫“¬°“√∫√‘À“√§«“¡‡ ’Ë¬ß

‡§√◊ËÕß¡◊Õ∑“ß°“√‡ß‘π∑’Ë ”§—≠¢Õß∫√‘…—∑œ μ“¡∑’Ëπ‘¬“¡Õ¬Ÿà„π¡“μ√∞“π°“√∫—≠™’©∫—∫∑’Ë 32 ç°“√· ¥ß√“¬°“√·≈–°“√‡ªî¥‡º¬

¢âÕ¡Ÿ≈ ”À√—∫‡§√◊ËÕß¡◊Õ∑“ß°“√‡ß‘πé ª√–°Õ∫¥â«¬ ‡ß‘π ¥·≈–√“¬°“√‡∑’¬∫‡∑à“‡ß‘π ¥ ≈Ÿ°Àπ’È°“√§â“ ‡ß‘π≈ß∑ÿπ ·≈–‡ß‘π°Ÿâ

¬◊¡√–¬–¬“« ∫√‘…—∑œ¡’§«“¡‡ ’Ë¬ß∑’Ë‡°’Ë¬«¢âÕß°—∫‡§√◊ËÕß¡◊Õ∑“ß°“√‡ß‘π¥—ß°≈à“« ·≈–¡’π‚¬∫“¬°“√∫√‘À“√§«“¡‡ ’Ë¬ß¥—ßπ’È

§«“¡‡ ’Ë¬ß¥â“π°“√„Àâ ‘π‡™◊ËÕ

∫√‘…—∑œ ¡’§«“¡‡ ’Ë¬ß¥â“π°“√„Àâ ‘π‡™◊ËÕ∑’Ë‡°’Ë¬«‡π◊ËÕß°—∫≈Ÿ°Àπ’È°“√§â“´÷Ëß à«π„À≠à‡°‘¥®“°°“√¢“¬„Àâ°—∫≈Ÿ°§â“®”π«ππâÕ¬√“¬

Õ¬à“ß‰√°Áμ“¡ ∫√‘…—∑œ‰¡à§“¥«à“®–‰¥â√—∫§«“¡‡ ’¬À“¬∑’Ë‡ªìπ “√– ”§—≠®“°°“√‡°Á∫Àπ’È®“°≈Ÿ°Àπ’È‡À≈à“π—Èπ ‡π◊ËÕß®“°≈Ÿ°Àπ’È

¡’§«“¡ “¡“√∂„π°“√™”√–Àπ’È¥’

§«“¡‡ ’Ë¬ß®“°Õ—μ√“¥Õ°‡∫’È¬

∫√‘…—∑œ ¡’§«“¡‡ ’Ë¬ß®“°Õ—μ√“¥Õ°‡∫’È¬∑’Ë ”§—≠Õ—π‡°’Ë¬«‡π◊ËÕß°—∫‡ß‘πΩ“° ∂“∫—π°“√‡ß‘π·≈–‡ß‘π°Ÿâ¬◊¡√–¬–¬“«∑’Ë¡’¥Õ°‡∫’È¬

Õ¬à“ß‰√°Áμ“¡ ‡π◊ËÕß®“° ‘π∑√—æ¬å·≈–Àπ’È ‘π∑“ß°“√‡ß‘π à«π„À≠à¡’Õ—μ√“¥Õ°‡∫’È¬∑’Ëª√—∫¢÷Èπ≈ßμ“¡Õ—μ√“μ≈“¥ À√◊Õ¡’Õ—μ√“¥Õ°‡∫’È¬

§ß∑’Ë´÷Ëß„°≈â‡§’¬ß°—∫Õ—μ√“μ≈“¥„πªí®®ÿ∫—π ∫√‘…—∑œ®÷ß¡‘‰¥â„™âμ√“ “√Õπÿæ—π∏å‡æ◊ËÕ∫√‘À“√§«“¡‡ ’Ë¬ß®“°Õ—μ√“¥Õ°‡∫’È¬¥—ß°≈à“«

√“¬≈–‡Õ’¬¥¢Õß‡ß‘π°Ÿâ¬◊¡√–¬–¬“«· ¥ß‰«â„πÀ¡“¬‡Àμÿª√–°Õ∫ß∫°“√‡ß‘π¢âÕ 11


121


20.6 Land Rental AgreementsThe Company entered into a land rental agreement with Sinparadorn Company Limited to rent 4,800 squaremeters of land for 3 years at a monthly rental rate of Baht 144,000, which was effective from 1 June 2005.The agreement contains an option to renew every 3 years.

The subsidiary entered into a land rental agreement with Saha Pathana Inter-Holding Public Company Limitedto rent 27.55 rais of land for 13 years, which was effective from 1 April 2007 to 31 March 2020 at a monthlyrental rate of Baht 434,192. However, the Company requested Saha Pathana Inter-Holding Public CompanyLimited to waive the rental fee since October 2007.

20.7 Machinery Lease AgreementThe Company entered into a machinery lease agreement with Operational Energy Group Limited under whichthe affiliate will provide replacement machinery if the Companyûs machinery is temporarily out-of-order. Rentalis charged at the rates stipulated in the agreement, which expires on 30 June 2016.

20.8 Bank guaranteesAs at 31 December 2009, there were outstanding bank guarantee of approximately Baht 163 million issuedby a bank on behalf of the Company in respect of certain performance bonds as required under the PowerSales Agreement with the Electricity Generating Authority of Thailand (EGAT). There were also other guaranteesissued by a bank on behalf of the Company and its subsidiary totaling Baht 18 million.

20.9 Capital commitmentsAs at 31 December 2009, its subsidiary had outstanding capital commitments in respect of construction ofpower plant of approximately Baht 387 million.

21. Financial instruments21.1 Financial risk management

The Companyûs financial instruments, as defined under Thai Accounting Standard No.32 çFinancial Instruments:Disclosure and Presentationsé, principally comprise cash and cash equivalents, trade accounts receivable,investments and long-term loans. The financial risks associated with these financial instruments and how theyare managed is described below.

Credit riskThe Company is exposed to credit risk primarily with respect to trade accounts receivable since the majorityof sales are supplied to a limited number of customers. However, due to those customersû creditworthiness,the Company does not anticipate material losses from its debt collection.

Interest rate riskThe Companyûs exposure to interest rate risk relates primarily to its cash at financial institutions and long-termborrowings which are subject to interest. However, because most of the financial assets and financial liabilitieshave floating interest rates which fluctuate in line with market interest rates or fixed interest rates whichapproximate the current market interest rate, the Company does not use derivatives to manage its interest raterisk. Details of long-term loans from financial institutions are set out in Notes to the financial statements No.11.

122

§«“¡‡ ’Ë¬ß®“°Õ—μ√“·≈°‡ª≈’Ë¬π

∫√‘…—∑œ ·≈–∫√‘…—∑¬àÕ¬¡’§«“¡‡ ’Ë¬ß®“°Õ—μ√“·≈°‡ª≈’Ë¬π∑’Ë ”§—≠Õ—π‡°’Ë¬«‡π◊ËÕß®“°°“√´◊ÈÕ∑√—æ¬å ‘π·≈–‡®â“Àπ’È§à“°àÕ √â“ß

‡ªìπ °ÿ≈‡ß‘πμ√“μà“ßª√–‡∑» ∫√‘…—∑œ·≈–∫√‘…—∑¬àÕ¬‰¥âμ°≈ß∑” —≠≠“ ◊ÈÕ¢“¬‡ß‘πμ√“μà“ßª√–‡∑»≈à«ßÀπâ“ ´÷Ëß¡’Õ“¬ÿ —≠≠“

‰¡à‡°‘πÀπ÷Ëßªï‡æ◊ËÕ„™â‡ªìπ‡§√◊ËÕß¡◊Õ„π°“√∫√‘À“√§«“¡‡ ’Ë¬ß

≥ «—π∑’Ë 31 ∏—π«“§¡ 2552 ∫√‘…—∑¬àÕ¬¡’¬Õ¥§ß‡À≈◊Õ¢ÕßÀπ’È ‘π∑“ß°“√‡ß‘π∑’Ë‡ªìπ °ÿ≈‡ß‘πμ√“μà“ßª√–‡∑»®”π«πª√–¡“≥

0.9 ≈â“π‡À√’¬≠ À√—∞Õ‡¡√‘°“ ∫√‘…—∑œ ·≈–∫√‘…—∑¬àÕ¬¡’ —≠≠“ ◊ÈÕ¢“¬‡ß‘πμ√“μà“ßª√–‡∑»≈à«ßÀπâ“§ß‡À≈◊Õ‡ªìπ®”π«π√«¡

ª√–¡“≥ 12.9 ≈â“π‡À√’¬≠ À√—∞Õ‡¡√‘°“ ´÷Ëß¡’Õ—μ√“·≈°‡ª≈’Ë¬πμ“¡ —≠≠“‡ªìπ®”π«π 33.25-33.33 ∫“∑μàÕ‡À√’¬≠

À√—∞Õ‡¡√‘°“ —≠≠“¥—ß°≈à“«∑¬Õ¬§√∫°”Àπ¥μ—Èß·μà‡¥◊Õπ¡°√“§¡∂÷ß‡¥◊Õπ ‘ßÀ“§¡ 2553

21.2 ¡Ÿ≈§à“¬ÿμ‘∏√√¡¢Õß‡§√◊ËÕß¡◊Õ∑“ß°“√‡ß‘π

‡π◊ËÕß®“° ‘π∑√—æ¬å·≈–Àπ’È ‘π∑“ß°“√‡ß‘π à«π„À≠à¢Õß∫√‘…—∑œ ®—¥Õ¬Ÿà„πª√–‡¿∑√–¬– —Èπ·≈–‡ß‘π°Ÿâ¬◊¡¡’Õ—μ√“¥Õ°‡∫’È¬„°≈â‡§’¬ß

°—∫Õ—μ√“¥Õ°‡∫’È¬„πμ≈“¥ ∫√‘…—∑œ ®÷ßª√–¡“≥¡Ÿ≈§à“¬ÿμ‘∏√√¡¢Õß ‘π∑√—æ¬å·≈–Àπ’È ‘π∑“ß°“√‡ß‘π„°≈â‡§’¬ß°—∫¡Ÿ≈§à“μ“¡∫—≠™’

∑’Ë· ¥ß„πß∫¥ÿ≈

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„π°“√·≈°‡ª≈’Ë¬π·≈– “¡“√∂μàÕ√Õß√“§“°—π‰¥âÕ¬à“ß‡ªìπÕ‘ √–„π≈—°…≥–∑’Ë‰¡à¡’§«“¡‡°’Ë¬«¢âÕß°—π «‘∏’°“√°”Àπ¥¡Ÿ≈§à“¬ÿμ‘∏√√¡

¢÷ÈπÕ¬Ÿà°—∫≈—°…≥–¢Õß‡§√◊ËÕß¡◊Õ∑“ß°“√‡ß‘π ¡Ÿ≈§à“¬ÿμ‘∏√√¡®–°”Àπ¥®“°√“§“μ≈“¥≈à“ ÿ¥ À√◊Õ°”Àπ¥¢÷Èπ‚¥¬„™â‡°≥±å°“√

«—¥¡Ÿ≈§à“∑’Ë‡À¡“– ¡

22. °“√∫√‘À“√®—¥°“√∑ÿπ«—μ∂ÿª√– ß§å„π°“√∫√‘À“√®—¥°“√∑ÿπ∑’Ë ”§—≠¢Õß∫√‘…—∑œ §◊Õ°“√®—¥„Àâ¡’´÷Ëß‚§√ß √â“ß∑“ß°“√‡ß‘π∑’Ë‡À¡“– ¡·≈–°“√¥”√ß‰«â´÷Ëß

§«“¡ “¡“√∂„π°“√¥”‡π‘π∏ÿ√°‘®Õ¬à“ßμàÕ‡π◊ËÕß

μ“¡ß∫¥ÿ≈ ≥ «—π∑’Ë 31 ∏—π«“§¡ 2552 °≈ÿà¡∫√‘…—∑¡’Õ—μ√“ à«πÀπ’È ‘πμàÕ∑ÿπ‡∑à“°—∫ 1.5:1 (2551: 1.5:1) ·≈–∫√‘…—∑œ ¡’Õ—μ√“ à«π

‡∑à“°—∫ 1.4:1 (2551: 1.5:1)

23. ‡Àμÿ°“√≥å¿“¬À≈—ß«—π∑’Ë„πß∫°“√‡ß‘π‡¡◊ËÕ«—π∑’Ë 26 °ÿ¡¿“æ—π∏å 2553 ∑’Ëª√–™ÿ¡§≥–°√√¡°“√∫√‘…—∑œ‰¥â¡’¡μ‘‡ÀÁπ™Õ∫„Àâ‡ πÕ°“√®à“¬‡ß‘πªíπº≈„πÕ—μ√“Àÿâπ≈– 0.17 ∫“∑

√«¡‡ß‘πªíπº≈∑—Èß ‘Èπ 162.35 ≈â“π∫“∑ μàÕ∑’Ëª√–™ÿ¡ “¡—≠ºŸâ∂◊ÕÀÿâπª√–®”ªï 2553 æ‘®“√≥“Õπÿ¡—μ‘μàÕ‰ª

24. °“√Õπÿ¡—μ‘ß∫°“√‡ß‘πß∫°“√‡ß‘ππ’È ‰¥â√—∫Õπÿ¡—μ‘„ÀâÕÕ°‚¥¬§≥–°√√¡°“√∫√‘…—∑œ ‡¡◊ËÕ«—π∑’Ë 26 °ÿ¡¿“æ—π∏å 2553


123


Foreign currency risk

The Company and its subsidiaryûs exposure to foreign currency risk arises mainly from purchases of

assets and construction payables that are denominated in foreign currencies. The Company and its

subsidiary seek to reduce this risk by entering into forward exchange contracts when they consider

appropriate. Generally, the forward contracts mature within one year.

As at 31 December 2009, the balance of its subsidiaryûs financial liabilities denominated in foreigncurrencies total approximately USD 0.9 million. The Company and its subsidiary have outstanding forwardforeign exchange contracts totaling approximately USD 12.9 million under which contractual exchange rates are33.25 - 33.33 Baht per 1 USD. The contracts mature during January to August 2010.

21.2 Fair values of financial instrumentsSince the majority of the Companyûs financial instruments are short-term in nature or bear floating interest rates,their fair value is not expected to be materially different from the amounts presented in the balance sheets.

A fair value is the amount for which an asset can be exchanged or a liability settled between knowledgeable,willing parties in an armûs length transaction. The fair value is determined by reference to the market price ofthe financial instrument or by using an appropriate valuation technique, depending on the nature of theinstrument.

22. Capital managementThe primary objective of the Companyûs capital management is to ensure that it has an appropriate financialstructure and preserves the ability to continue its business as a going concern.

According to the balance sheet as at 31 December 2009, the Groupûs debt-to-equity ratio was 1.5:1 (2008: 1.5:1)and the Companyûs was 1.4:1 (2008: 1.5:1).

23. Subsequent eventsOn 26 February 2010, the Companyûs Board of Directors meeting passed a resolution to propose the dividendpayment of Baht 0.17 per share, totaling Baht 162.35 million, to the Annual General Meeting of the Shareholdersof 2010 for approval.

24. Approval of financial statementsThese financial statements were authorised for issue by the Companyûs Board of Directors on 26 February 2010.

124

§≥–°√√¡°“√

π“¬∫ÿ≠‡°’¬√μ‘ ‚™§«—≤π“ª√–∏“π°√√¡°“√

Mr. Boonkiet ChokwatanaChairman

π“¬∫ÿ≥¬ ‘∑∏‘Ï ‚™§«—≤π“°√√¡°“√

Mr. Boonsithi ChokwatanaDirector

π“¬ —πμ‘ «‘≈“ »—°¥“ππ∑å°√√¡°“√

Mr. Santi VilassakdanontDirector

π“¬∑πß »√’®‘μ√å°√√¡°“√·≈–°√√¡°“√∫√‘À“√

Mr.Tanong SrichitDirector and Executive Director

π“¬«‘‚√®πå ∏’√«—≤πå«“∑’°√√¡°“√ºŸâ®—¥°“√·≈–°√√¡°“√∫√‘À“√Mr. Viroj TheeravatvateeManaging Director and ExecutiveDirector

π“¬∫ÿ≠ƒ∑∏‘Ï ¡À“¡πμ√’°√√¡°“√Mr. Boonyarith MahamontriDirector

æ≈‡√◊Õ‡Õ° Õπÿ™‘μ ‡¿°–π—π∑πåª√–∏“π∑’Ëª√÷°…“§≥–°√√¡°“√Admiral Anuchit Bekanan

Chairman of Advisory Committee


125


The Board of Directors

π“¬∏’√–»—°¥‘Ï «‘°‘μ‡»√…∞å°√√¡°“√·≈–ª√–∏“π°√√¡°“√∫√‘À“√Mr. Thirasak VikitsetDirector and Chairman ofExecutive Board

π“¬Õ—μ∂°√ °≈—Ëπ§«“¡¥ ’°√√¡°“√·≈–°√√¡°“√∫√‘À“√Mr. Atthakorn GlankwamdeeDirector and Executive Director

π“¬ ÿ®√‘μ ªí®©‘¡π—π∑å°√√¡°“√·≈–°√√¡°“√∫√‘À“√Mr. Sujarit PatchimnunDirector and Executive Director

π“¬πææ√ æß…å‡«™°√√¡°“√Õ‘ √–·≈–

ª√–∏“π°√√¡°“√μ√«® Õ∫Mr. Nophorn BhongsvejIndependent Director and

Chairman of Audit Committee

æ≈μ”√«®‡Õ° ¡™“¬ ª√–¿— ¿—°¥’

°√√¡°“√Õ‘ √–·≈–°√√¡°“√μ√«® Õ∫Pol. Gen. Somchai Prabhasabhakdi

Independent Directorand Audit Committee

π“¬Õ¡√ Õ—»«“π—π∑å°√√¡°“√Õ‘ √–·≈–°√√¡°“√μ√«® Õ∫

Mr. Amorn AsvanuntIndependent Director and

Audit Committee

π“¬ ÿ√ß§å Õß§å‚¶…‘μ°√√¡°“√Õ‘ √–·≈–°√√¡°“√μ√«® Õ∫Mr. Surong OngkositIndependent Directorand Audit Committee

π“¬π‘«—μ√ æ—≤π‡ ¡“°ÿ≈°√√¡°“√Õ‘ √–·≈–°√√¡°“√μ√«® Õ∫

Mr. Niwat PatanasemakulIndependent Director and

Audit Committee

126

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(DAP) √ÿàπ 3/2003 ‡Õπ‡μÕ√å‰æ√ å ®”°—¥ (¡À“™π)

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(DCP) √ÿàπ 41/2004 2550 - ªí®®ÿ∫—π °√√¡°“√ºŸâÕ”π«¬°“√ ·≈– ∫√‘…—∑ ‰Õ.´’. ’. Õ‘π‡μÕ√å‡π™—Ëπ·π≈ ®”°—¥ (¡À“™π)

®“° ¡“§¡ àß‡ √‘¡ ∂“∫—π ª√–∏“π°√√¡°“√∫√‘À“√

°√√¡°“√∫√‘…—∑‰∑¬ (IOD) °‘®°“√Õ◊Ëπ (∑’Ë‰¡à„™à∫√‘…—∑®¥∑–‡∫’¬π) ®”π«π 38 ·Ààß

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∫√‘…—∑ À‚§‡®π (™≈∫ÿ√’) ®”°—¥ (¡À“™π)Sahacogen (C

honburi) Public Com

pany Limited

127

This annual report is printed on Green Series paper m

ade from 100%

Eco Fiber

SharesFamily Past 5 years experiences

Name / Position Age Education holdRelationship

(%)Between period Position Company Namedirectors

The Board of Directors

1. Mr. Boonkiet Chokwatana 62 - Honorary Doctorate Degree in 1.19 Brothers 2006 - Present Director Thailand Securities Depositoryë Chairman Business Administration Mr. Boonsithi Company Limitedë Chairman of the Nomination (Management), Sripratum University Chokwatana 2008 - Present Director Thai Listed Companies Association

and Remuneration Committee - Honorary Doctorate in Business Director Listed Companiesë Authorized Director Administration College of Commerce, 1996 - 2008 President I.C.C. International PLC.

Burapha University 1996 - 2008 Director Sahacogen (Chonburi) PLC.- B.S. Mechanical Engineering - 1973 - Present Director O.C.C. PLC.

Worcester Polytechnic Institute, 1986 - Present Director Saha Pathana Inter-Holding PLC.Massachusetts, USA 1993 - Present Chairman S&J International Enterprises PLC.

- Director Accreditation Program 1994 - Present Director Peopleûs Garment PLC.(DAP) 3/2003 2007 - Present President & Executive I.C.C. International PLC.

- Director Certification Program Other Companies 38(DCP) 41/2004 (non Listed Companies)Thai Institute of Directors Association CompetitiveBusiness related to -None-

Companyûs Business

128



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(ªï)∫√‘…—∑ (%)


2. π“¬∫ÿ≥¬ ‘∑∏‘Ï ‚™§«—≤π“ 72 - ª√‘≠≠“∫√‘À“√∏ÿ√°‘®¥ÿ…Æ’∫—≥±‘μ°‘μμ‘¡»—°¥‘Ï 1.73 æ’Ë™“¬ ∫√‘…—∑®¥∑–‡∫’¬π

ë °√√¡°“√ “¢“∫√‘À“√∏ÿ√°‘® π“¬∫ÿ≠‡°’¬√μ‘ 2515 - ªí®®ÿ∫—π ª√–∏“π°√√¡°“√ ∫√‘…—∑ ‰∑¬‡æ√´‘‡¥π∑åøŸ¥ å ®”°—¥ (¡À“™π)

ë °√√¡°“√ºŸâ¡’Õ”π“®≈ßπ“¡ 1. ¡À“«‘∑¬“≈—¬∫Ÿ√æ“ ‚™§«—≤π“ 2518 - ªí®®ÿ∫—π ª√–∏“π°√√¡°“√ ∫√‘…—∑ ∏πŸ≈—°…≥å ®”°—¥ (¡À“™π)

ºŸ°æ—π∫√‘…—∑ 2. ¡À“«‘∑¬“≈—¬∏√√¡»“ μ√å ª√–∏“π 2523 - ªí®®ÿ∫—π °√√¡°“√∑’Ëª√÷°…“ ∫√‘…—∑ ‡∑Á°´å‰∑≈å‡æ√ ∑’® ®”°—¥ (¡À“™π)

3. ∂“∫—π∫—≥±‘μ æ—≤π∫√‘À“√»“ μ√å °√√¡°“√ 2533 - ªí®®ÿ∫—π °√√¡°“√∑’Ëª√÷°…“ ∫√‘…—∑ ‰∑¬«“‚°â ®”°—¥ (¡À“™π)

4. ¡À“«‘∑¬“≈—¬ÀÕ°“√§â“‰∑¬ 2537 - ªí®®ÿ∫—π ª√–∏“π°√√¡°“√ ∫√‘…—∑ Àæ—≤πæ‘∫Ÿ≈ (¡À“™π)

- ª√‘≠≠“∫√‘À“√∏ÿ√°‘®¥ÿ…Æ’∫—≥±‘μ°‘μμ‘¡»—°¥‘Ï 2538 - ªí®®ÿ∫—π √Õßª√–∏“π°√√¡°“√ ∫√‘…—∑ ‰Õ.´’.´’.Õ‘π‡μÕ√å‡π™—Ëπ·π≈ ®”°—¥ (¡À“™π)

“¢“«‘»«°√√¡»“ μ√å 2547 - ªí®®ÿ∫—π °√√¡°“√·≈–ª√–∏“π°√√¡°“√∫√‘À“√ ∫√‘…—∑ Àæ—≤π“Õ‘π‡μÕ√å‚Œ≈¥‘Èß®”°—¥ (¡À“™π)

¡À“«‘∑¬“≈—¬¢Õπ·°àπ °‘®°“√Õ◊Ëπ (∑’Ë‰¡à„™à∫√‘…—∑®¥∑–‡∫’¬π) ®”π«π 36 ·Ààß

- Director Accreditation Program °‘®°“√∑’Ë·¢àß¢—π°—∫∏ÿ√°‘®¢Õß∫√‘…—∑ -‰¡à¡’-

(DAP) √ÿàπ 3/2003

- Director Certification Program

(DCP) √ÿàπ 68/2005

®“° ¡“§¡ àß‡ √‘¡ ∂“∫—π °√√¡°“√

∫√‘…—∑‰∑¬ (IOD)

3. π“¬∏’√–»—°¥‘Ï «‘°‘μ‡»√…∞å 58 - ª√‘≠≠“‚∑ “¢“∫√‘À“√∏ÿ√°‘® 0.21 -‰¡à¡’- ∫√‘…—∑®¥∑–‡∫’¬π

ë °√√¡°“√ Clark University : Worcester, 2528 - ªí®®ÿ∫—π °√√¡°“√ºŸâ®—¥°“√·≈– ∫√‘…—∑ ‡Õ ·Õπ¥å ‡® Õ‘π‡μÕ√å‡π™—Ëπ·π≈

ë ª√–∏“π°√√¡°“√∫√‘À“√ Massachusetts, ª√–‡∑» À√—∞Õ‡¡√‘°“ ª√–∏“π°√√¡°“√∫√‘À“√ ‡Õπ‡μÕ√å‰æ√ å ®”°—¥ (¡À“™π)

ë °√√¡°“√ √√À“·≈–°”Àπ¥ - ª√‘≠≠“μ√’«‘»«°√√¡»“ μ√å °‘®°“√Õ◊Ëπ (∑’Ë‰¡à„™à∫√‘…—∑®¥∑–‡∫’¬π) ®”π«π 11 ·Ààß

§à“μÕ∫·∑π “¢“«‘»«°√√¡‡§¡’ °‘®°“√∑’Ë·¢àß¢—π°—∫∏ÿ√°‘®¢Õß∫√‘…—∑ -‰¡à¡’-

ë °√√¡°“√ºŸâ¡’Õ”π“®≈ßπ“¡ ∂“∫—π«Ÿ√å ‡μÕ√å‚æ≈’‡∑§π‘§

ºŸ°æ—π∫√‘…—∑ √—∞·¡ ´“™Ÿ‡´∑ åª√–‡∑» À√—∞Õ‡¡√‘°“

- Director Accreditation Program

(DAP) √ÿàπ 3/2003


(DCP) √ÿàπ 68/2005

®“° ¡“§¡ àß‡ √‘¡ ∂“∫—π

°√√¡°“√∫√‘…—∑‰∑¬ (IOD)


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2. Mr. Boonsithi Chokwatana 72 - The Honorary Doctorate Degree in 1.73 Brothers Listed Companiesë Director Business Administration, Mr. Boonkiet 1972 - Present Chairman Thai President Foods PLC.ë Authorized Director 1. Burapha University Chokwatana 1975 - Present Chairman Thanulux PLC.

2. Thammasat University Chairman 1980 - Present Advising Director Textile Prestige PLC.3. National Institution of Development 1990 - Present Advising Director Thai Wacoal PLC.

Administration 1994 - Present Chairman Saha Pathanapibul PLC.4. University of the Thai Chamber 1995 - Present Vice Chairman I.C.C. International PLC.

of Commerce 2004 - Present Director and Chairman of Saha Pathana Inter-Holding PLC.- The Honorary Doctorate Degree in Executive Board

Engineering, Khon Kaen University Other Companies 36- Director Accreditation Program (non Listed Companies)

(DAP) 3/2003 Competitive Business related -None-- Director Certification Program to Companyûs Business

(DCP) 68/2005Thai Institute of Directors Association

3. Mr. Thirasak Vikitset 58 - MBA, Clark University: Worcester, 0.21 -None- Listed Companiesë Director Massachusetts, USA 1985 - Present Managing Director and S&J International Enterprises PLC.ë Chairman of Executive Board - Bachelor of Chemical Engineering Chairman of Executiveë Nomination and Remuneration Worcester Polytechnic Institute, Other Companies 11

Director Massachusetts, USA (non Listed Companies)ë Authorized Director - Director Accreditation Program Competitive Business related -None-

(DAP) 3/2003 to Companyûs Business- Director Certification Program


130



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(ªï)∫√‘…—∑ (%)


4. π“¬ —πμ‘ «‘≈“ »—°¥“ππ∑å 59 - ª√‘≠≠“«‘»«°√√¡»“ μ√¥ÿ…Ø’∫—≥±‘μ 0.03 -‰¡à¡’- 2549 - °.æ 51. ¡“™‘° ¿“π‘μ‘∫—≠≠—μ‘·Ààß™“μ‘

ë °√√¡°“√ °‘μμ‘¡»—°¥‘Ï “¢“«‘»«°√√¡Õÿμ “À°“√ 2550 - ‡¡.¬ 51 °√√¡°“√ °“√π‘§¡Õÿμ “À°√√¡·Ààßª√–‡∑»‰∑¬

ë °√√¡°“√ºŸâ¡’Õ”π“®≈ßπ“¡ ¡À“«‘∑¬“≈—¬√“¡§”·Àß 2538 - ªí®®ÿ∫—π °√√¡°“√ ¿“ºŸâ àß ‘π§â“∑“ß‡√◊Õ·Ààßª√–‡∑»‰∑¬

ºŸ°æ—π∫√‘…—∑ - ª√‘≠≠“ª√—™≠“¥ÿ…Æ’∫—≥±‘μ°‘μμ‘¡»—°¥‘Ï 2545 - ªí®®ÿ∫—π °√√¡°“√ ∫√√…—∑∫√‘À“√ ‘π∑√—æ¬å‰∑¬

“¢“°“√®—¥°“√‡∑§‚π‚≈¬’ 2549 - ªí®®ÿ∫—π ª√–∏“π ¿“Õÿμ “À°√√¡·Ààßª√–‡∑»‰∑¬

¡À“«‘∑¬“≈—¬√“™¿—Øæ√–π§√ 2551 - ªí®®ÿ∫—π Õπÿ°√√¡°“√ √√À“∫√‘…—∑®¥∑–‡∫’¬π μ≈“¥À≈—°∑√—æ¬å·Ààßª√–‡∑»‰∑¬

- ª√‘≠≠“‚∑ °“√∫—≠™’ §≥–æ“≥‘™¬»“ μ√å ∫√‘…—∑®¥∑–‡∫’¬π

·≈–°“√∫—≠™’ ®ÿÃ“≈ß°√≥å¡À“«‘∑¬“≈—¬ 2551 - 2552 °√√¡°“√Õ‘ √– ∫√‘…—∑ ™ÿ¡æ√Õÿμ “À°√√¡ πÈ”¡—πª“≈å¡

- ª√‘≠≠“‚∑ °“√®—¥°“√ ∂“∫—π∫—≥±‘μ ®”°—¥ (¡À“™π)

∫√‘À“√∏ÿ√°‘® »»‘π∑√å 2546 - ªí®®ÿ∫—π °√√¡°“√ºŸâ®—¥°“√„À≠à·≈– ∫√‘…—∑ Àæ—≤π“Õ‘π‡μÕ√å‚Œ≈¥‘Èß ®”°—¥ (¡À“™π)

®ÿÃ“≈ß°√≥å¡À“«‘∑¬“≈—¬ °√√¡°“√∫√‘À“√

- ª√‘≠≠“∫—μ√ «‘∑¬“≈—¬ªÑÕß°—π√“™Õ“≥“®—°√ 2548 - ªí®®ÿ∫—π °√√¡°“√Õ‘ √– ∫¡®. ∏π“§“√°√ÿß‰∑¬

À≈—° Ÿμ√¿“§√—∞√à«¡‡Õ°™π √ÿàπ∑’Ë 355 °‘®°“√Õ◊Ëπ (∑’Ë‰¡à„™à∫√‘…—∑®¥∑–‡∫’¬π) ®”π«π 18 ·Ààß

- À≈—° Ÿμ√ºŸâ∫√‘À“√√–¥—∫ Ÿß ∂“∫—π °‘®°“√∑’Ë·¢àß¢—π°—∫∏ÿ√°‘®¢Õß∫√‘…—∑ -‰¡à¡’-

«‘∑¬“°“√μ≈“¥∑ÿπ μ≈“¥À≈—°∑√—æ¬å

·Ààßª√–‡∑»‰∑¬ («μ∑. √ÿàπ∑’Ë 7)

- À≈—° Ÿμ√ºŸâ∫√‘À“√√–¥—∫ Ÿß¥â“π°“√§â“·≈–

°“√æ“≥‘™¬å √ÿàπ∑’Ë 1 ∂“∫—π«‘∑¬“°“√

°“√§â“ ¡À“«‘∑¬“≈—¬ÀÕ°“√§â“

- Director Accreditation Program

(DAP) √ÿàπ 3/2003

®“° ¡“§¡ àß‡ √‘¡ ∂“∫—π

°√√¡°“√∫√‘…—∑‰∑¬ (IOD)


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4. Mr. Santi Vilassakdanont 59 - The Honorary Doctorate Degree in 0.03 -None- 2006 - Feb. 2008 Member of National Legislativeë Director Engineering (Industrial Engineering), Assemblyë Authorized Director Ramkhamhaeng University 2007 - Apr.2008 Chairman Industrial Estate Authority of Thailand

- The Honorary Degree : Doctor of 1995 - Present Director Thai National Shippersû CouncilPhilosophy (Technology Management), 2002 - Present Director Thai Asset Management CorporationPhranakorn Rajabhat University 2006 - Present Director The Federation of Thai Industries

- Master of Accounting, Chulalongkorn 2008 - Present Nomination Committee of the The Stock Exchange of ThailandUniversity Stock Exchange of Thailand

- Master of Management (M.M.), Sasin Listed CompaniesInstitute of Business Administration, 2008 - 2009 Independent Director Chumporn Industrial Palm Oil PLC.Chulalongkorn University 2003 - Present President and Executive Director Saha Pathana Inter-Holding PLC.

- National Defence Joint Public / 2005 - Present Independent Director Krung Thai Bank PLC.Private Sector Course National Other Companies 18Defence College of Thailand (non Listed Companies)

- Capital Market Academy Leader Competitive Business related -None-Program; CMA 7, Capital Market to Companyûs BusinessAcademy, The Stock Exchange ofThailand

- Top Executive Program in Commerceand Trade; TEPCOT 1, CommerceAcademy, University of the ThaiChamber of Commerce

- Director Accreditation Program(DAP) 3/2003

Thai Institute of Directors Association

132



§ÿ≥«ÿ≤‘∑“ß°“√»÷°…“ ∂◊ÕÀÿâπ„π∑“ß§√Õ∫§√—«

(ªï)∫√‘…—∑ (%)


5. π“¬∑πß »√’®‘μ√å 54 - ª√‘≠≠“μ√’ √—∞»“ μ√å -‰¡à¡’- -‰¡à¡’- ∫√‘…—∑®¥∑–‡∫’¬π

ë °√√¡°“√ ®ÿÃ“≈ß°√≥å¡À“«‘∑¬“≈—¬ 2539 - ªí®®ÿ∫—π °√√¡°“√ºŸâ™à«¬ºŸâ®—¥°“√„À≠à·≈– ∫√‘…—∑ Àæ—≤π“Õ‘π‡μÕ√å‚Œ≈¥‘Èß ®”°—¥ (¡À“™π)

ë °√√¡°“√∫√‘À“√ - Director Accreditation Program °√√¡°“√∫√‘À“√

ë °√√¡°“√ºŸâ¡’Õ”π“®≈ßπ“¡ (DAP) √ÿàπ 3/2003 °‘®°“√Õ◊Ëπ (∑’Ë‰¡à„™à∫√‘…—∑®¥∑–‡∫’¬π) ®”π«π 25 ·Ààß

ºŸ°æ—π∫√‘…—∑ - Director Certification Program °‘®°“√∑’Ë·¢àß¢—π°—∫∏ÿ√°‘®¢Õß∫√‘…—∑ -‰¡à¡’-

(DCP) √ÿàπ 72/2006

- Finance for Non - Finance Director

(FND) √ÿàπ 9/2004

®“° ¡“§¡ àß‡ √‘¡ ∂“∫—π

°√√¡°“√∫√‘…—∑‰∑¬ (IOD)

6. π“¬Õ—μ∂°√ °≈—Ëπ§«“¡¥’ 61 - ª√‘≠≠“‡Õ° «‘™“‡Õ°«‘»«°√√¡‡§√◊ËÕß°≈ 0.02 -‰¡à¡’- ∫√‘…—∑®¥∑–‡∫’¬π

ë °√√¡°“√ «‘™“‚∑ Operation Research University 2534 - ªí®®ÿ∫—π °√√¡°“√√ÕßºŸâ®—¥°“√·≈– ∫√‘…—∑ ‡Õ ·Õπ¥å ‡® Õ‘π‡μÕ√å‡π™—Ëπ·π≈

ë °√√¡°“√∫√‘À“√ of Illinois@Urbaha ª√–‡∑» À√—∞Õ‡¡√‘°“ °√√¡°“√∫√‘À“√ ‡Õπ‡μÕ√å‰æ√ å ®”°—¥ (¡À“™π)

ë °√√¡°“√ºŸâ¡’Õ”π“®≈ßπ“¡ - Director Accreditation Program °‘®°“√Õ◊Ëπ (∑’Ë‰¡à„™à∫√‘…—∑®¥∑–‡∫’¬π) ®”π«π 9 ·Ààß

ºŸ°æ—π∫√‘…—∑ (DAP) √ÿàπ 3/2003 °‘®°“√∑’Ë·¢àß¢—π°—∫∏ÿ√°‘®¢Õß∫√‘…—∑ -‰¡à¡’-


(DCP) √ÿàπ 68/2005

®“° ¡“§¡ àß‡ √‘¡ ∂“∫—π

°√√¡°“√∫√‘…—∑‰∑¬ (IOD)

7. π“¬«‘‚√®πå ∏’√«—≤πå«“∑’ 56 - ª√‘≠≠“μ√’«‘»«°√√¡»“ μ√å -‰¡à¡’- -‰¡à¡’- °‘®°“√Õ◊Ëπ (∑’Ë‰¡à„™à∫√‘…—∑®¥∑–‡∫’¬π) ®”π«π 2 ·Ààß

ë °√√¡°“√ºŸâ®—¥°“√ ®ÿÃ“≈ß°√≥å¡À“«‘∑¬“≈—¬ °‘®°“√∑’Ë·¢àß¢—π°—∫∏ÿ√°‘®¢Õß∫√‘…—∑ -‰¡à¡’-

ë °√√¡°“√∫√‘À“√ - Director Accreditation Program

ë °√√¡°“√ºŸâ¡’Õ”π“®≈ßπ“¡ (DAP) √ÿàπ 12/2004

ºŸ°æ—π∫√‘…—∑ - Director Certification Program

(DCP) √ÿàπ 68/2005

®“° ¡“§¡ àß‡ √‘¡ ∂“∫—π

°√√¡°“√∫√‘…—∑‰∑¬ (IOD)


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5. Mr.Tanong Srichit 54 - Bachelor Degree in Political Science, -None- -None- Listed Companiesë Director Chulalongkorn University 1996 - Present First Executive Vice President Saha Pathana Inter-Holding PLC.ë Executive Director - Director Accreditation Program Other Companies 25ë Authorized Director (DAP) 3/2003 (non Listed Companies)

- Director Certification Program Competitive Business related to -None-(DCP) 72/2006 Companyûs Business

- Finance for Non - FinanceDirector (FND) 9/2004Thai Institute of Directors Association

6. Mr. Atthakorn Glankwamdee 61 - Ph.D. (Mechanical Engineering) 0.02 -None- Listed Companiesë Director University of Illinois at Urbana, U.S.A. 1991 - Present Deputy Managing S&J International Enterprises PLC.ë Executive Director - Director Accreditation Program Other Companies 9ë Authorized Director (DAP) 3/2003 (non Listed Companies)

- Director Certification Program Competitive Business related to -None-(DCP) 68/2005 Companyûs BusinessThai Institute of DirectorsAssociation

7. Mr. Viroj Theeravatvatee 56 - Bachelor of Engineering (Mechanical -None- -None- Other Companies 2ë Managing Director Engineering), Chulalongkorn University (non Listed Companies)ë Executive Director - Director Accreditation Program Competitive Business related -None-ë Authorized Director (DAP) 12/2004 to Companyûs Business

- Director Certification Program(DCP) 68/2005Thai Institute of DirectorsAssociation

134



§ÿ≥«ÿ≤‘∑“ß°“√»÷°…“ ∂◊ÕÀÿâπ„π∑“ß§√Õ∫§√—«

(ªï)∫√‘…—∑ (%)


8. π“¬ ÿ®√‘μ ªí®©‘¡π—π∑å 64 - ª√‘≠≠“‚∑ √.∫.(°“√ª°§√Õß) -‰¡à¡’- -‰¡à¡’- 2547 - 2549 ª≈—¥°√–∑√«ß¡À“¥‰∑¬ °√–∑√«ß¡À“¥‰∑¬

ë °√√¡°“√ ¡À“«‘∑¬“≈—¬∏√√¡»“ μ√å 2545 - 2549 Õ∏‘∫¥’°√¡°“√ª°§√Õß °√–∑√«ß¡À“¥‰∑¬

ë °√√¡°“√∫√‘À“√ - ª√‘≠≠“μ√’ √.∫. (°“√ª°§√Õß)

ë °√√¡°“√ºŸâ¡’Õ”π“®≈ßπ“¡ ¡À“«‘∑¬“≈—¬∏√√¡»“ μ√å ∫√‘…—∑®¥∑–‡∫’¬π

ºŸ°æ—π∫√‘…—∑ - Director Accreditation Program 2547 - 2549 °√√¡°“√ ∫√‘…—∑ º≈‘μ‰øøÑ“√“™∫ÿ√’ ‚Œ≈¥‘Èß ®”°—¥ (¡À“™π)

(DAP) √ÿàπ 41/2005 2550 - ªí®®ÿ∫—π °√√¡°“√ ∫√‘…—∑ Àæ—≤πæ‘∫Ÿ≈ ®”°—¥ (¡À“™π)

®“° ¡“§¡ àß‡ √‘¡ ∂“∫—π °‘®°“√Õ◊Ëπ (∑’Ë‰¡à„™à∫√‘…—∑®¥∑–‡∫’¬π) ®”π«π 3 ·Ààß

°√√¡°“√∫√‘…—∑‰∑¬ (IOD) °‘®°“√∑’Ë·¢àß¢—π°—∫∏ÿ√°‘®¢Õß∫√‘…—∑ -‰¡à¡’-

9. π“¬∫ÿ≠ƒ∑∏‘Ï ¡À“¡πμ√’ 64 - ª√‘≠≠“μ√’«‘∑¬“»“ μ√å∫—≥±‘μ 0.01 -‰¡à¡’- ∫√‘…—∑®¥∑–‡∫’¬π

ë °√√¡°“√ ®ÿÃ“≈ß°√≥å¡À“«‘∑¬“≈—¬ 2542 - 2549 °√√¡°“√Õ‘ √–·≈– ∫√‘…—∑ ∏πŸ≈—°…≥å ®”°—¥ (¡À“™π)

ë °√√¡°“√ºŸâ¡’Õ”π“®≈ßπ“¡ - Director Accreditation Program °√√¡°“√μ√«® Õ∫

ºŸ°æ—π∫√‘…—∑ (DAP) √ÿàπ 3/2003 2529 - ªí®®ÿ∫—π °√√¡°“√ ∫√‘…—∑ Àæ—≤πæ‘∫Ÿ≈ ®”°—¥ (¡À“™π)


(DCP) √ÿàπ 68/2005 °‘®°“√Õ◊Ëπ (∑’Ë‰¡à„™à∫√‘…—∑®¥∑–‡∫’¬π) ®”π«π 1 ·Ààß

®“° ¡“§¡ àß‡ √‘¡ ∂“∫—π °‘®°“√∑’Ë·¢àß¢—π°—∫∏ÿ√°‘®¢Õß∫√‘…—∑ -‰¡à¡’-

°√√¡°“√∫√‘…—∑‰∑¬ (IOD)

10. π“¬πææ√ æß…å‡«™ 62 - ª√‘≠≠“‚∑ Oregon State University -‰¡à¡’- -‰¡à¡’- 2549 - ªí®®ÿ∫—π °‘®°“√Õ◊Ëπ (∑’Ë‰¡à„™à∫√‘…—∑®¥∑–‡∫’¬π) -‰¡à¡’-

ë °√√¡°“√Õ‘ √– ∑“ß‡»√…∞»“ μ√å °‘®°“√∑’Ë·¢àß¢—π°—∫∏ÿ√°‘®¢Õß∫√‘…—∑ -‰¡à¡’-

ë ª√–∏“π°√√¡°“√μ√«® Õ∫ - ª√‘≠≠“μ√’ University of Oregon

ë °√√¡°“√ √√À“·≈–°”Àπ¥ (‡»√…∞»“ μ√å)

§à“μÕ∫·∑π - Director Accreditation Program (DAP)

- Director Certification Program (DCP)

- Audit Committee Program (ACP)

®“° ¡“§¡ àß‡ √‘¡ ∂“∫—π

°√√¡°“√∫√‘…—∑‰∑¬ (IOD)


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8. Mr. Sujarit Patchimnun 64 - M.A. in political Science,Thammasat -None- -None- 2004 -2006 Permanent Secretary of the Ministry of Interiorë Director University Ministry of Interiorë Executive Director - B.A. in political Science,Thammasat 2002 - 2006 Director-General of Department of Ministry of Interiorë Authorized Director University Local Administration

- Director Accreditation Program Listed Companies(DAP) 41/2005 2004 - 2006 Director Ratchaburi Electricity GeneratingThai Institute of Directors Holding PLC.Association 2007 - Present Director Saha Pathanapibul PLC.

Other Companies 3(non Listed Companies)Competitive Business related to -None-Companyûs Business

9. Mr. Boonyarith Mahamontri 64 - Bachelor of Science, Chulalongkorn 0.01 -None- Listed Companiesë Director University 1999 - 2006 Independent Director and Audit Thanulux PLC.ë Authorized Director - Director Accreditation Program 1986 - Present Director Saha Pathanapibul PLC.

(DAP) 3/2003 Committee- Director Certification Program Other Companies 2

(DCP) 68/2005 (non Listed Companies)Thai Institute of Directors Association Competitive Business related -None-

to Companyûs Business

10. Mr. Nophorn Bhongsvej 62 - B.A. University of Oregon (ECON.) -None- -None- Other Companies -None-ë Independent Director - M.S. Oregon State University (ECON.) 2006- Present (non Listed Companies)ë Chairman of Audit Committee - Director Accreditation Program (DAP) Competitive Business related to -None-ë Nomination and Remuneration - Director Certification Program (DCP) Companyûs Business

Director - Audit Committee Program (ACP)Thai Institute of Directors Association

136



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(ªï)∫√‘…—∑ (%)


11. æ≈μ”√«®‡Õ° ¡™“¬ ª√–¿— ¿—°¥’ 67 - √—∞ª√–»“ π»“ μ√å¡À“∫—≥±‘μ -‰¡à¡’- -‰¡à¡’- 2536 - 2539 √ÕßºŸâ∫—≠™“°“√μ”√«®π§√∫“≈ ”π—°ß“πμ”√«®·Ààß™“μ‘

ë °√√¡°“√Õ‘ √– (√ª.¡.) ∂“∫—π∫—≥±‘μæ—≤π∫√‘À“√»“ μ√å 2539 - 2540 ºŸâ∫—≠™“°“√μ”√«®¿Ÿ∏√¿“§ 1 ”π—°ß“πμ”√«®·Ààß™“μ‘

ë °√√¡°“√μ√«® Õ∫ - À≈—° Ÿμ√ ‡Õø.∫’.‰Õ √ÿàπ 93 (F.B.I.) 2540 - 2543 ºŸâ∫—≠™“°“√μ”√«®¿Ÿ∏√¿“§ 2 ”π—°ß“πμ”√«®·Ààß™“μ‘

ª√–‡∑» À√—∞Õ‡¡√‘°“ 2543 - 2545 ºŸâ™à«¬ºŸâ∫—≠™“°“√μ”√«® ”π—°ß“πμ”√«®·Ààß™“μ‘

- ‚√ß‡√’¬π‡ π“∏‘°“√∑À“√∫° À≈—° Ÿμ√ 2545 - 2545 ∑’Ëª√÷°…“ª√–®” ”π—°π“¬°√—∞¡πμ√’ ”π—°π“¬°√—∞¡πμ√’

ª√–®”™ÿ¥∑’Ë 53 ∫√‘…—∑®¥∑–‡∫’¬π

- «‘∑¬“≈—¬ªÑÕß°—π√“™Õ“≥“®—°√ À≈—° Ÿμ√ 2547 - 2549 °√√¡°“√Õ‘ √–·≈– ∫¡®. Õ ¡∑

°“√ªÑÕß°—π√“™Õ“≥“®—°√¿“§√—∞√à«¡ ª√–∏“π°√√¡°“√μ√«® Õ∫

‡Õ°™π √ÿàπ∑’Ë 6 2547 - ªí®®ÿ∫—π °√√¡°“√Õ‘ √–·≈–°√√¡°“√μ√«® Õ∫ ∫¡®. ‰Õ.´’.´’. Õ‘π‡μÕ√å‡π™—Ëπ·π≈

- Director Accreditation Program °‘®°“√Õ◊Ëπ (∑’Ë‰¡à„™à∫√‘…—∑®¥∑–‡∫’¬π) -‰¡à¡’-

(DAP) √ÿàπ∑’Ë 25/2004 °‘®°“√∑’Ë·¢àß¢—π°—∫∏ÿ√°‘®¢Õß∫√‘…—∑ -‰¡à¡’-


(DCP) 51/2004

- Audit Committee Program

(ACP) √ÿàπ∑’Ë 2/2004

- Role of The Chairman Program

(RCP) √ÿàπ∑’Ë 12/2005

®“° ¡“§¡ àß‡ √‘¡ ∂“∫—π

°√√¡°“√∫√‘…—∑‰∑¬ (IOD)


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11. Pol. Gen. Somchai 67 - Master of Public Adminstration -None- -None- 1993 - 1996 Deputy Commissioner of Metropolitan PolicePrabhasabhakdi (M.P.A.), National Institution of Metropolitan Policeë Independent Director Development Administration 1996 - 1997 Commissioner of Provincial Police Metropolitan Policeë Audit Committee - F.B.I. Academy, USA (Class 93) Region 1

- Chief of the Army Guard Staff Commissioner of Provincial Police Metropolitan Police(Class 53) Region 2

- National Defence College (Class 6) 1997 - 2000 Assistance Commissioner General, Metropolitan Police- Director Accreditation Program Royal Thai Police

(DAP) 25/2004 2000 - 2002 Advisor to the Office of the Prime Office of the Prime Minister- Director Certification Program Minister

(DCP) 51/2004 Listed Companies- Audit Committee Program(ACP) 2004 - 2006 Independent Director and MCOT PLC.

2/2004 Chairman of Audit Committee- Role of The Chairman Program 2004 - Present Independent Director and Audit I.C.C. International PLC.

(RCP) 12/2005 CommitteeThai Institute of Directors Association Other Companies -None-

(non Listed Companies)Competitive Business related to -None-Companyûs Business

138



§ÿ≥«ÿ≤‘∑“ß°“√»÷°…“ ∂◊ÕÀÿâπ„π∑“ß§√Õ∫§√—«

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12. π“¬Õ¡√ Õ—»«“π—π∑å 61 - ª√‘≠≠“‚∑ ∫√‘À“√∏ÿ√°‘® Bowling Green 0.10 -‰¡à¡’- ∫√‘…—∑®¥∑–‡∫’¬πë °√√¡°“√Õ‘ √– State University, Ohio, U.S.A. 2545 - 2548 °√√¡°“√Õ‘ √– ∫¡®. À‚§‡®π (™≈∫ÿ√’)ë °√√¡°“√μ√«® Õ∫ - ∫—≠™’∫—≠±‘μ ·≈–ª√–∏“π°√√¡°“√μ√«® Õ∫

®ÿÃ“≈ß°√≥å¡À“«‘∑¬“≈—¬ 2542 - ªí®®ÿ∫—π °√√¡°“√Õ‘ √–·≈–°√√¡°“√μ√«® Õ∫ ∫¡®. ‰Õ.´’.´’. Õ‘π‡μÕ√å‡π™—Ëπ·π≈- Director Accreditation Program 2545 - ªí®®ÿ∫—π °√√¡°“√Õ‘ √–·≈– ∫¡®. ª√–™“Õ“¿√≥å(DAP) √ÿàπ∑’Ë 3/2003 ª√–∏“π°√√¡°“√μ√«® Õ∫®“° ¡“§¡ àß‡ √‘¡ ∂“∫—π 2545 - ªí®®ÿ∫—π °√√¡°“√Õ‘ √–·≈–°√√¡°“√μ√«® Õ∫ ∫¡®.ø“√åÕ’ ∑å ¥’¥’∫’°√√¡°“√∫√‘…—∑‰∑¬ (IOD) 2548 - ªí®®ÿ∫—π °√√¡°“√Õ‘ √–·≈–°√√¡°“√ ∫¡®.°√ÿß‡∑æ‚ ¿≥

∫√‘À“√§«“¡‡ ’Ë¬ß2548 - ªí®®ÿ∫—π °√√¡°“√∫√‘À“√ ∫¡®. ∏π“§“√∑À“√‰∑¬

°‘®°“√Õ◊Ëπ (∑’Ë‰¡à„™à∫√‘…—∑®¥∑–‡∫’¬π) ®”π«π 1 ·Ààß°‘®°“√∑’Ë·¢àß¢—π°—∫∏ÿ√°‘®¢Õß∫√‘…—∑ -‰¡à¡’-

13. π“¬ ÿ√ß§å Õß§å‚¶…‘μ 58 - ª√‘≠≠“‚∑ “¢“«‘»«°√√¡‡§√◊ËÕß°≈ -‰¡à¡’- -‰¡à¡’- ∫√‘…—∑®¥∑–‡∫’¬πë °√√¡°“√Õ‘ √– Lamar University. Beaumont, Texas, 2551 - ªí®®ÿ∫—π °√√¡°“√Õ‘ √–·≈– ∫¡®. ‡Õ ·Õπ¥å ‡® Õ‘π‡μÕ√å‡π™—Ëπ·π≈ë °√√¡°“√μ√«® Õ∫ ª√–‡∑» À√—∞Õ‡¡√‘°“ °√√¡°“√μ√«® Õ∫ ‡Õπ‡μÕ√å‰æ√ å

- ª√‘≠≠“μ√’ “¢“«‘»«°√√¡‡§√◊ËÕß°≈ °‘®°“√Õ◊Ëπ (∑’Ë‰¡à„™à∫√‘…—∑®¥∑–‡∫’¬π) ®”π«π 1 ·Ààß®ÿÃ“≈ß°√≥å¡À“«‘∑¬“≈—¬ °‘®°“√∑’Ë·¢àß¢—π°—∫∏ÿ√°‘®¢Õß∫√‘…—∑ -‰¡à¡’-

- Director Accreditation Program(DAP) √ÿàπ 12/2004

- Director Certification Program(DCP) √ÿàπ 68/2005®“° ¡“§¡ àß‡ √‘¡ ∂“∫—π°√√¡°“√∫√‘…—∑‰∑¬ (IOD)

14. π“¬π‘«—μ√ æ—≤π‡ ¡“°ÿ≈ 61 - ª√‘≠≠“‚∑«‘»«°√√¡»“ μ√å 0.18 -‰¡à¡’- 2546 - 2549 ºŸâÕ”π«¬°“√ΩÉ“¬«‘»«°√√¡æ≈—ßπÈ” °“√‰øøÑ“ΩÉ“¬º≈‘μë °√√¡°“√Õ‘ √– “¢“«‘»«°√√¡·À≈àßπÈ” 2549 - 2551 ºŸâÕ”π«¬°“√ΩÉ“¬æ—≤π“∏ÿ√°‘® °“√‰øøÑ“ΩÉ“¬º≈‘μë °√√¡°“√μ√«® Õ∫ ∂“∫—π‡∑§‚π‚≈¬·Ààß‡Õ‡™’¬ °‘®°“√Õ◊Ëπ (∑’Ë‰¡à„™à∫√‘…—∑®¥∑–‡∫’¬π) -‰¡à¡’-

°‘®°“√∑’Ë·¢àß¢—π°—∫∏ÿ√°‘®¢Õß∫√‘…—∑ -‰¡à¡’-


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12. Mr. Amorn Asvanunt 61 - B.Accountancy, Chulalongkorn 0.10 -None- Listed Companiesë Independent Director University 2002 - 2005 Chairman of Audit Committee Sahacogen (Chonburi) PLC.ë Audit Committee - MBA. Bowling Green State University, 1999 - Present Independent Director and I.C.C. International PLC.

Ohio, U.S.A. Audit Committee- Director Accreditation Program 2002 - Present Independent Director and Peopleûs Garment PLC.

(DAP) 3/2003 Audit CommitteeThai Institute of Directors Association 2002 - Present Independent Director and Audit Far East DDB PLC.

Committee2005 - Present Independent Director and Risk Krungdhep Sophon PLC.

Management Committee2005 - Present Executive Director Thai Military Bank PLC.

Other Companies 1(non Listed Companies)Competitive Business related -None-to Companyûs Business

13. Mr. Surong Ongkosit 58 - Master Degree (Mechanical), Lamar, -None- -None- Listed Companiesë Independent Director University, Beaumont, Texas, U.S.A. 2008 - Present Independent Director and Audit S&J International Enterprises PLC.ë Audit Committee - Bachelor Degree (Mechanical), Committee

Chulalongkorn University Other Companies 1- Director Accreditation Program (non Listed Companies)

(DAP) 68/2005 Competitive Business related -None-- Director Certification Program to Companyûs Business


14. Mr. Niwat Patanasemakul 61 - Master of Engineering, 0.18 -None- 2006 - 2008 Director, Business Development Electricity Generating Authorityë Independent Director Water Resources Engineering, Division of Thailandë Audit Committee Asian Institute of Technology 2003 - 2006 Director, Hydropower Electricity Generating Authority

Engineering Division of ThailandOther Companies -None-(non Listed Companies)Competitive Business related to -None-Companyûs Business

√“¬ß“πª√–®”ªï‡≈à¡π’Èæ‘¡æå¥â«¬°√–¥“… Green Series ∑’Ëº≈‘μ®“°‡¬◊ËÕ Eco Fiber 100% ´÷Ëß‡ªìπ«— ¥ÿ∑“ß°“√‡°…μ√∑’Ëºà“π°“√„™âß“π·≈â« ·≈–‡»…°√–¥“…À¡ÿπ‡«’¬π∑”„À¡à ‚¥¬‰¡à√∫°«π‡¬◊ËÕ®“°‰¡â„À¡à

Annual sahacogen 2552(th eng)

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