Annual sahacogen 2553 (th eng)

1This annual report is printed on Green Series paper made from 100% Eco Fiber

¢âÕ¡Ÿ≈∑—Ë«‰ª / General Information ™◊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 ¡°√“§¡ 2547

ª√–‡¿∑∏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∫‰´μå∫√‘…—∑ : www.sahacogen.com

∑ÿπ®¥∑–‡∫’¬π·≈–∑ÿπ∑’Ë™”√–·≈â« : 955 ≈â“π∫“∑ (Àÿâπ “¡—≠ 955,000,000 Àÿâπ ¡Ÿ≈§à“Àÿâπ≈– 1 ∫“∑)

∫ÿ§§≈Õâ“ßÕ‘ßÕ◊ËπÊ

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‚∑√»—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

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‚∑√»—æ∑å 0-2587-0808 ‚∑√ “√ 0-2586-0301

ºŸâ Õ∫∫—≠™’ : π. . ∑‘æ“«—≈¬å π“π“πÿ«—≤πå ‡≈¢∑–‡∫’¬πºŸâ Õ∫∫—≠™’ 3459

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‚∑√»—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 Limited

Stock Code : SCG (Listed on the Stock Exchange of Thailand - SET)

Registered Number : 0107545000306 (Bor Mor Jor. 40854500703)

Registered Date : November 20, 1996

Registered Date to Public Company : October 4, 2002

First Trading in the Stock Market : January 7, 2004

Type of Business : Power Plant

Head Office Location : 636 Moo 11, Sukaphiban 8 Road, Nongkharm, Sriracha, Chonburi 20230

Tel : 66 3848 1555 Fax : 66 3848 1551

Website : www.sahacogen.com

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

Reference

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

4th & 7th Floor, Ratchadapisek Road, Klongtoey, Bangkok 10110

Tel : 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. 3459

Ernst & Young Office Limited 193/136-137 Rajadapisek Road, Bangkok 10110

Tel : 0-2264-0777 Fax : 0-2264-0789-90

Financial Institution : Bangkok Bank Public Company Limited, Head Office

Tel : 0-2626-3688 Fax : 0-2231-4018

Kasikornbank Public Company Limited, Sriracha Branch

Tel : 038-762-787 Fax : 038-762-791

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

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Message from the Chairman

In 2010, businesses were affected by several negative factors such as political uncertainty, economic

slowdown, baht appreciation and also oil price hikes. However, in a spirit of cooperation, executives and

employees set a mission for quality energy production, excellent service, environmental concern, and both

social and community development, under the çClean Energy for Communitiesé concept. Notwithstanding, the

Company reported Baht 3,145 million in revenue in 2010 with an increase of 3.28% from last year. Net profit

also rose by 12.68% to Baht 320 million in 2010.

Under the çClean Energy for Communitiesé concept, the Company enhanced more utilization of alternative

energy as a substitute for depleted fossil fuel, for which prices tend to increase rapidly. Hence, the Company

began developing Biomass Energy projects in provinces such as Lumphun and Kamphangphet . Also, being a

leading business arm under Saha Group, the Company realized that the çpower of business sectoré is very

vital for organizations to achieve higher levels of Corporate Social Responsibility (CSR). As it has been said,

there is no such thing as a successful business in a failed society. We all must care for social welfare and the

environment, in accordance with Good Corporate Governance principles. As a result, the Company and its

subsidiaries passed an assessment for Good Corporate Governance for Environment 2010. This was under an

initiative project from the Thai Industry Ministry to promote Good Corporate Governance for the Environment in

the work place. Moreover, the Company was rated as çExcellenté level for the Annual General Shareholdersû

Meeting 2010 (AGM) quality assessment, by the Thai Institute of Directors Association (IOD).

On behalf of Sahacogen (Chonburi) Public Company Limited, the Board of Directors are grateful to

shareholders, business partners, clients, business counterparts, government and private organizations as well as

finance institutions for their good cooperation. Furthermore, we are committed to operate the Company in line

with the principle of Good Corporate Governance and Corporate Social Responsibility for the future.

Mr. Boonkiet Chokwatana

Chairman


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The audit committee of Sahacogen (Chonburi) Public Co., Ltd. consists of :

1) Mr. Nophorn Bhongsvej

2) Pol.Gen. Somchai Prabhasabhakdi

3) Mr. Amorn Asvanunt

4) Mr. Surong Ongkosit

The internal audit is conducted by Dharmniti Auditing Co.,Ltd. which reports directly to the audit

committee on a quarterly basis. The review process is done in accordance with the prior approved program

and covers all aspects of the operation of the company and a subsidiary. Each phase of operation is reviewed

against the companyûs operating procedures. Results are tabulated and weighted scores given. The audit

results and comments are reviewed with management and reported to the audit committee with the scores

and remedial action, if any, to be undertaken and followed up. The results of each phase of the audit program

are mostly at above acceptable level reflecting the adequacy of the internal control process. The results of the

audit are presented to the Board of Directors for notation.

During the year the risk management process was further reviewed with the internal auditor as the

company undertook an expansion into a biomass project in Lamphun with commercial operation starting in the

first quarter of 2011. An internal audit program for 2011 was approved together with management and internal

auditor. Management works closely with the internal auditor and has been consistently open and cooperative

to suggestions made by the committee during quarterly review.

The audit committee also reviews the quarterly accounts prior to presentation to the Board of Directors.

Related transactions are rigorously reviewed and found to be in full compliance with the rules and regulations

of the SET and SEC. The audit committee also works closely with the external auditor to ensure that the

financial statements comply with the generally acceptable accounting principles and with adequate disclosures.

With the introduction of the IFRS the committee also works with the external auditor to ensure compliance with

each phase of the implementation.

The audit committee also reviews the performance, independence and qualificatins of the external auditor

against the relevant regulations of the SET on independent auditor and recommends to the Board that Ernst

and Young Office Limited be proposed to the shareholders for election as the companyûs auditor for 2011.

Mr. Nophorn Bhongsvej

Chairman of Audit Committee

Report of the Audit Committee


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√“¬ß“π§≥–°√√¡°“√ √√À“·≈–°”Àπ¥§à“μÕ∫·∑π


The Nominating and Remuneration committee of Sahacogen (Chonburi) Public Company Limited

consists of :

1) Mr. Boonkiet Chokwatana Chairman of Nominating and Remuneration Committee

2) Mr. Thirasak Vikitset Nominating and Remuneration Committee

3) Mr. Nophorn Bhongsvej Nominating and Remuneration Committee

The Committee has duties to indentify and screen candidates, proposed by shareholders during November

16 - December 16, 2009 who are qualified to become the Board of Directors, to screen and review background

of the candidates, and to prepare recommendations or suggestions on the candidates proposing to the Board

of Directors for consideration.

The committee also has duties to review the charter of Committee and determine the remunerations of

the Board of Directors members as well as other duties commanded by the Board of Directors. The Committee

has been complied with the best practice in nominating directors, who are qualified in terms of knowledge,

capability, skillful, experience, leadership and vision in accordance with the Companyûs good government and

management efficiency and to conform to rules and regulations and changed environment.

The Committee has disclosed the remuneration of director members and executives in this annual report

for auditable transparency.

Mr. Boonkiet Chokwatana

Chairman of the Nominating and Remuneration Committee

Report of the Nominating and Remuneration Committee


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‚∑√»—æ∑å 66-3729-0244 66-5570-1246

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The 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 Plant

Location 129 Moo 1, Nonsi, Kabinburi, 88 Moo 6, Khui-Ban-Ong, Phran Kratai,

Prachinburi 25110 Kamphaengphet 62110

Telephone No. 66-3729-0244 66-5570-1246

Fax No. 66-3729-0245 66-5570-1246

Registered Capital 250 Million Baht 85 Million Baht

Type of Shares Common shares Common shares

No. of Total Paid-up Shares 117,000,000 8,500,000

No. of Shares held (shares) 116,999,993 6,374,997

No. of Shares held (Amount Baht) 1,169,999,930 63,749,970

Proportion (%) of Shares holding 99.99 75

The Board of Directors for Sahacogen Green Co.,Ltd. as of December 31, 2010

Name Position

1. Mr. Boonkiet Chokwatana Chairman

2. Mr. Viroj Theeravatvatee Managing Director

3. Mr. Sujarit Patchimnun Director

4. Mr. Thirasak Vikitset Director

5. Mr. Atthakorn Glankwamdee Director

6. Mr. Tanong Srichit Director

The Board of Directors for Sahagreen Forest Co., Ltd. as of December 31, 2010

Name 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

Supplementary Information and Shareholding in Subsidiaries


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‰ÕπÈ”∑’ËμË”°«à“μâπ∑ÿπ°“√º≈‘μ‰ÕπÈ”∑’Ë¡’Õ¬Ÿà‡¥‘¡¢Õß‚√ßß“πÕÿμ “À°√√¡ àßº≈„Àâ‚√ßß“πÕÿμ “À°√√¡∑—ÈßÀ¡¥„π «πÕÿμ “À°√√¡

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


Nature of Business

Sahacogen (Chonburi) Public Company Limited is a Small Power Producer (SPP) producing and

distributing electricity and steam. The first power plant is a natural gas-fired cogeneration combined cycle type,

located in Sriracha Saha Group Industrial Park, Nongkharm, Sriracha, Chonburi province, is capable of

producing electricity since 1999. 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 steam to factories in Sriracha Saha Group Industrial Park. The steam

distributed by Sahacogen Power Plant is produced by a highly efficient process, and suitable for substituting

for the steam generated by boilers that use fuel oil, not only saving cost for the factories but also reducing

green house gas that causes global warming. As a result, there has been the continuity of business expansion

in the industrial park. The Company, therefore, has increased the capacity of generating electricity at the

natural gas-fired cogeneration plant by 40% to be capable of producing 174 megawatts of electricity and 81

tons of steam per hour currently.

With regard to business development, the company has placed significant interest in participations of

communities and social to receive mutual benefits. The Company has focused on renewable energy

development project to replace fossil energy source which is increasingly expensive and likely a major part of

expediting the global warming. Therefore subsidiary companies were established complying with the Companyûs

policy namely Sahacogen Green Co.,Ltd. and Sahagreen Forest Co.,Ltd.

l Sahacogen Green Co.,Ltd. :

The company operates the Lamphun Biomass to Energy Project with production capacity of 9.5

megawatts of electricity and 25 tons of steam per hour at Lamphun Saha Group Industrial Park. The

power plant, which will supply 8 megawatts to Provincial Electricity Authority (PEA) and steam to factories

in the industrial park, is scheduled to commercial operation in March 2011. Such project creates

sustainability and close participations of the community on providing and supplying agricultural residues

to the power plant as well as benefit contributions from growing fast-growing tree for sustainable fuel

source. Benefits from the project include an increase in green fields turned from unused land towards job

creation in the community.

l Sahagreen Forest Co.,Ltd. :

The company is a joint venture between the Company and Siam Forestry Co.,Ltd. a paper business

subsidiary of the Siam Cement Group, that produces electricity by using combination of eucalyptus

residues from pulp factory and agricultural residues as fuel in nearby areas. The project with capacity of

7.5 megawatts of electricity in Amphor Prankratai, Kamphaengphet Province has already approved by

community and granted the operation license by authority as planned. The power plant shall start

construction in the second quarter of 2011 and commercial operation in December 2012.

Marketing and Competition

Thanks to the economic recovery, demand for electricity and steam in the industry sector has turned to

the normal situation and been relatively higher in the third quarter of 2010. With sufficient power reserves, the

Company is confidence in proving electricity and steam to factories in the industrial park despite electricity and

steam consumption in 2011 is on rise, resulting from an increased number of new projects and production

expansion of existing projects. The Company kept the customers satisfied by providing good services,

production efficiency and competitive prices of steam, reducing costs of factories in Sriracha Saha Group

Industrial Park. With the customer satisfaction and trust, they continue to purchase electricity and steam from

the Company.


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 2553

‰øøÑ“ ªï 2553 ªï 2552

°”≈—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 1,524,240

ª√‘¡“≥æ≈—ßß“π‰øøÑ“∑’Ëº≈‘μÕÕ°®”Àπà“¬®√‘ß (‡¡°–«—μμå-™—Ë«‚¡ß/ªï) 988,345 950,228

Õ—μ√“°“√„™âª√–‚¬™πå (√âÕ¬≈–) 64.84 62.34

‰ÕπÈ” ªï 2553 ªï 2552

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

ª√‘¡“≥‰ÕπÈ” Ÿß ÿ¥∑’Ë “¡“√∂º≈‘μ‰¥â (μ—π/ªï) 709.560 709,560

ª√‘¡“≥‰ÕπÈ”º≈‘μ·≈– àßÕÕ°®”Àπà“¬®√‘ß (μ—π/ªï) 316,553 303,104

Õ—μ√“°“√„™âª√–‚¬™πå (√âÕ¬≈–) 44.61 42.72

√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 2553 ¡’√“¬‰¥â‡æ‘Ë¡¢÷Èπ 85.66 ≈â“π∫“∑ ‡¡◊ËÕ‡∑’¬∫

°—∫ªï 2552 ‡π◊ËÕß®“°ª√‘¡“≥°“√„™â ‰øøÑ“·≈–‰ÕπÈ”„π «πÕÿμ “À°√√¡‡æ‘Ë¡¢÷Èπ√âÕ¬≈– 4.0 ·≈– 4.4 μ“¡≈”¥—∫

(Àπà«¬: ≈â“π∫“∑)

º≈‘μ¿—≥±å ªï 2553 ªï 2552 ªï 2551

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

√“¬‰¥â®“°°“√¥”‡π‘πß“π

- ‰øøÑ“ (°“√‰øøÑ“ΩÉ“¬º≈‘μ·Ààßª√–‡∑»‰∑¬) 1,757.85 55.87 1,813.96 59.55 1,796.04 58.73

- ‰øøÑ“ ( «πÕÿμ “À°√√¡) 1,051.82 33.43 957.00 31.41 921.20 30.12

- ‰ÕπÈ” ( «πÕÿμ “À°√√¡) 317.85 10.10 270.90 8.89 331.50 10.84

√«¡√“¬‰¥â®“°°“√¥”‡π‘πß“π 3,127.52 99.40 3,041.86 99.85 3,048.74 99.69

√“¬‰¥âÕ◊Ëπ 18.92 0.60 4.46 0.15 9.46 0.31

√“¬‰¥â√«¡ 3,146.45 100.00 3,046.32 100.00 3,058.20 100.00


Performance Review and Revenue Structure

As of 2010, its capacity and utilization are as following:-

Electricity 2010 2009

Installed Capacity (megawatt) 174 174

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

Actual Production (megawatt-hour/year) 988,345 950,228

Utilization Factor (percentage) 64.84 62.34

Steam 2010 2009

Installed Capacity (ton/hour) 81 81

Maximum Capacity (ton/year) 709.560 709,560

Actual Production (ton/year) 316,553 303,104

Utilization Factor (percentage) 44.61 42.72

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 2010, the total income increased to Baht 85.66 million due to

the increment of the revenues from selling electricity to EGAT and the industrial Park which was 4.0% and the

increase of selling steam to the industrial park was 4.4% respectively.

(Unit: Million Baht)

Product 2010 2009 2008

Revenue % Revenue % Revenue %

Operating Income

- Electricity (EGAT) 1,757.85 55.87 1,813.96 59.55 1,796.04 58.73

- Electricity (Industrial Park) 1,051.82 33.43 957.00 31.41 921.20 30.12

- Steam (Industrial Park) 317.85 10.10 270.90 8.89 331.50 10.84

Total Operating Income 3,127.52 99.40 3,041.86 99.85 3,048.74 99.69

Other Income 18.92 0.60 4.46 0.15 9.46 0.31

Total Revenue 3,146.45 100.00 3,046.32 100.00 3,058.20 100.00


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‰¥â‡ªî¥‡º¬√“¬≈–‡Õ’¬¥°“√®à“¬‡ß‘πªíπº≈√“¬ªï„πÀ¡«¥ π‚¬∫“¬°“√®à“¬‡ß‘πªíπº≈ ·∫∫ 56-1)

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√ÿªº≈°“√¥”‡π‘π‚§√ß°“√„πªï 2553


l Lamphun Biomass to Energy Project

Construction of the Project has been completed and taken the operation system on trial since December

2010 and shall commercially operate in March 2011 as scheduled.

l Kampangphet Biomass to Energy Project

The Project has been operated by Sahagreen Forest Co.,Ltd. a joint venture between the Company and

Siam Forestry Co.,Ltd. a paper business subsidiary of the Siam Cement Group. With a production

capacity of 7.5 megawatts, the power plant which is located in Amphur Prankratai, Kampangphet will

generate electricity by using eucalyptus residues from pulp factory as fuel. The Project does not only help

develop the usage of renewable energy but also reduce the amount of carbon dioxide emissions that

affect on global warming through the Clean Development Mechanism (CDM). The Project was approved

by the local communities. The joint-venture was also awarded the Energy Industry Operation License and

scheduled for commercial operation in December 2012.

Dividend Policy

l 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 creating the maximum benefit to the shareholders, such as reserves for debt services or for

serving any needs during the market 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 meeting for approval. Reference to the Articles of

Association No. 34, each payout of the dividend is subject to the net profit of the company only. If the

company retains loss, the dividend payment is prohibited. The Board of Directors is 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 company shall pay

the dividend within one (1) month after the date of shareholdersû approval on the shareholdersû meeting

or the Board of Directorsû meeting. (Details of dividend payment was disclosed on the annual statement

in the section of dividend payment policy, Form 56-1)

l Subsidiary Company

A subsidiary company is entitled to make the dividend payment subject to its operation performance.

Summary of Business Development in 2010


‚§√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 7 ‡¡…“¬π 2553

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 81,715,000 8.56

5. ∫¡®. Àæ—≤πæ‘∫Ÿ≈ 69,624,730 7.29

6. π“¬ ”‡√‘ß ¡πŸ≠º≈ 39,896,500 4.18

7. ∫¡®. ‰∑¬«“‚°â 32,800,000 3.44

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

9. ∫®. ·™¡ªá‡Õ™ 20,500,000 2.15

10. ∫®. Õ‘π‡μÕ√å‡π™—Ëπ·π≈ ·≈∫∫Õ√“∑Õ√’ å 20,400,000 2.14

°“√°√–®“¬°“√∂◊ÕÀÿâπμ“¡ª√–‡¿∑¢Õß∫ÿ§§≈∑’Ë∂◊Õ ≥ «—πªî¥ ¡ÿ¥∑–‡∫’¬πæ—°°“√‚ÕπÀÿâπ‡¡◊ËÕ«—π∑’Ë 7 ‡¡…“¬π 2553

®”π«πºŸâ∂◊ÕÀÿâπ ®”π«πÀÿâπ √âÕ¬≈–

π‘μ‘∫ÿ§§≈ —≠™“μ‘‰∑¬ 43 644,973,880 67.53

—≠™“μ‘μà“ß¥â“« 2 9,550,000 1.00

√«¡ 45 654,523,880 68.53

∫ÿ§§≈∏√√¡¥“ —≠™“μ‘‰∑¬ 1,114 300,426,120 31.46

—≠™“μ‘μà“ß¥â“« 1 50,000 0.01

√«¡ 1,115 300,476,120 31.47

√«¡∑—Èß ‘Èπ 1,160 955,000,000 100


Shareholders and Management Structure

Equity 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 April 7, 2010.

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 81,715,000 8.56

5. Saha Pathanapibul PCL. 69,624,730 7.29

6. Mr. Samreng Manupol 39,896,500 4.18

7. Thai Wacoal PCL. 32,800,000 3.44

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

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

10. International Laboratories Co.,Ltd. 20,400,000 2.14

Types of Shareholders as the close of share register on April 7, 2010.

No. of Shareholders No. of Shares %

Juristic person Thai 43 644,973,880 67.53

Foreigner 2 9,550,000 1.00

Total 45 654,523,880 68.53

General public Thai 1,114 300,426,120 31.46

Foreigner 1 50,000 0.01

Total 1,115 300,476,120 31.47

Grand Total 1,160 955,000,000 100


°“√∂◊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 ç°“√¢ÕÕπÿ≠“μ·≈–°“√Õπÿ≠“μ

„Àâ‡ πÕ¢“¬Àÿâπ∑’ËÕÕ°„À¡àé ¢âÕ 14

°“√∂◊ÕÀÿâπ‰¢«â√–À«à“ß°—π ≥ «—π∑’Ë 31 ∏—π«“§¡ 2553

™◊ËÕ∫√‘…—∑ —¥ à«π°“√∂◊ÕÀÿâπ (%)

∫√‘…—∑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∫√‘…—∑œ

1. ∫√‘…—∑ 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—ÈπμâÕß‰¡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«“§¡ 2553

§≥–°√√¡°“√°“√

§≥–°√√¡°“√μ√«® Õ∫

§≥–°√√¡°“√ √√À“·≈– §≥–°√√¡°“√∫√‘À“√

°”Àπ¥§à“μÕ∫·∑π

μ√«® Õ∫¿“¬„π °√√¡°“√ºŸâ®—¥°“√

§≥–Õπÿ°√√¡°“√∫√‘À“√§«“¡‡ ’Ë¬ß

§≥–Õπÿ°√√¡°“√§«“¡√—∫º‘¥™Õ∫

μàÕ —ß§¡·≈–™ÿ¡™π

ΩÉ“¬æ—≤π“∏ÿ√°‘® ΩÉ“¬∫√‘À“√‚§√ß°“√ ΩÉ“¬ªØ‘∫—μ‘°“√ ΩÉ“¬∫√‘À“√ ΩÉ“¬∫—≠™’·≈–°“√‡ß‘π

à«πæ—≤π“‚§√ß°“√ à«π∫√‘À“√‚§√ß°“√ à«πªØ‘∫—μ‘°“√‚√ß‰øøÑ“ à«π∫√‘À“√ß“π∏ÿ√°“√ à«π°“√‡ß‘π à«π∫√‘À“√ß“π

§«“¡√âÕπ√à«¡ §ÿ≥¿“æ§«“¡ª≈Õ¥¿—¬

‚√ß‰øøÑ“»√’√“™“ ·≈– ‘Ëß·«¥≈âÕ¡

à«π«‘»«°√√¡ à«πªØ‘∫—μ‘°“√‚√ß‰øøÑ“ à«π∫√‘À“√·≈–æ—≤π“

à«π∫—≠™’ ‚√ß‰øøÑ“™’«¡«≈ ∑√—æ¬“°√∫ÿ§§≈

à«π®—¥´◊ÈÕ®—¥®â“ß


Cross-shareholding

While 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 Chor 28/2008 regarding çthe permission request and the permission to offer newly-issued

sharesé no. 14

Cross-shareholding details as of December 31, 2010

Company name Shareholding Percentage

Shareholding Shareholding

by 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 over - -

Cross- 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 Structure

The Companyûs structure as of December 31, 2010

Committee

Audit Committee

Nomination and Executive Committee

Remuneration Committee

Internal Audit Managing Director

Risk Management Committee

CSR Committee

Business Development Project Management and

Operation Department Administration

Finance and Acounting Department

Department Engineering Department Department Department

Project Development Project Management Cogeneration Power Office Administration Finance Division Quality Safety and

Division Division Plant (Sriracha) Division Environment

Division Management Division

Engineering Division Biomass Fired Power Human Resource

Accounting Division Plant Division Management Division

Procurement


§≥–°√√¡°“√

‚§√ß √â“ß°√√¡°“√∫√‘…—∑ ≥ «—π∑’Ë 31 ∏—π«“§¡ 2553 ª√–°Õ∫¥â«¬§≥–°√√¡°“√∫√‘…—∑ §≥–°√√¡°“√μ√«® Õ∫ §≥–°√√¡°“√

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

æ“≥‘™¬å ¡’°√√¡°“√√«¡∑—Èß ‘Èπ®”π«π 13 ∑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

2552 ·≈–ªï 2553 ≥ «—π∑’Ë 31 ∏—π«“§¡ 2553 ¥—ßπ’È

≈”¥—∫ √“¬™◊ËÕ μ”·Àπàß §≥– §≥– §≥– §≥–°√√¡ ®”π«π

∑’Ë °√√¡°“√ °√√¡°“√ °√√¡°“√ √√À“·≈– ®”π«πÀÿâπ * Àÿâπ À¡“¬‡Àμÿ

∫√‘…—∑ ∫√‘À“√ μ√«® Õ∫ °“√°”Àπ¥ (‡æ‘Ë¡/≈¥)

§à“μÕ∫·∑π ªï 2552 ªï 2553 √–À«à“ßªï 1 π“¬∫ÿ≠‡°’¬√μ‘ ª√–∏“π°√√¡°“√, ª√–∏“π 4 4 11,353,410 11,353,410 - §√∫«“√–‡¡◊ËÕ‡¥◊Õπ ‡¡.¬. 52

‚™§«—≤π“ °√√¡°“√ √√À“·≈–°”Àπ¥ ·μàßμ—Èß„À¡à

§à“μÕ∫·∑π ‡¡◊ËÕ«—π∑’Ë 28 ‡¡.¬. 52 2 π“¬∫ÿ≥¬ ‘∑∏‘Ï °√√¡°“√ 4 16,500,000 16,500,000 - §√∫«“√–‡¡◊ËÕ‡¥◊Õπ ‡¡.¬. 52

‚™§«—≤π“ ·μàßμ—Èß„À¡à

‡¡◊ËÕ«—π∑’Ë 28 ‡¡.¬. 52 3 π“¬ —πμ‘ °√√¡°“√ 4 310,000 310,000 - §√∫«“√–‡¡◊ËÕ‡¥◊Õπ ‡¡.¬. 53

«‘≈“ »—°¥“ππ∑å ·μàßμ—Èß„À¡à

‡¡◊ËÕ«—π∑’Ë 27 ‡¡.¬. 53 4 π“¬∫ÿ≠ƒ∑∏‘Ï °√√¡°“√Õ‘ √– 4 50,000 50,000 - §√∫«“√–‡¡◊ËÕ‡¥◊Õπ ‡¡.¬. 52

¡À“¡πμ√’ ·μàßμ—Èß„À¡à

‡¡◊ËÕ«—π∑’Ë 28 ‡¡.¬. 52 5 π“¬∏’√–»—°¥‘Ï °√√¡°“√, ª√–∏“π°√√¡°“√ 4 4 4 2,040,000 2,040,000 - §√∫«“√–‡¡◊ËÕ‡¥◊Õπ ‡¡.¬. 52

«‘°‘μ‡»√…∞å ∫√‘À“√·≈–°√√¡°“√ √√À“ ·μàßμ—Èß„À¡à

·≈–°”Àπ¥§à“μÕ∫·∑π ‡¡◊ËÕ«—π∑’Ë 28 ‡¡.¬. 52 6 π“¬∑πß »√’®‘μ√å °√√¡°“√·≈–°√√¡°“√∫√‘À“√ 4 4 - - - §√∫«“√–‡¡◊ËÕ‡¥◊Õπ ‡¡.¬. 52

·μàßμ—Èß„À¡à

‡¡◊ËÕ«—π∑’Ë 28 ‡¡.¬.52 7 π“¬Õ—μ∂°√ °√√¡°“√·≈–°√√¡°“√∫√‘À“√ 4 4 200,000 200,000 - §√∫«“√–‡¡◊ËÕ‡¥◊Õπ ‡¡.¬. 53

°≈—Ëπ§«“¡¥’ ·μàßμ—Èß„À¡à

‡¡◊ËÕ«—π∑’Ë 27 ‡¡.¬. 53 8 π“¬«‘‚√®πå °√√¡°“√ºŸâ®—¥°“√·≈– 4 4 - - - §√∫«“√–‡¡◊ËÕ‡¥◊Õπ ‡¡.¬. 53

∏’√«—≤πå«“∑’ °√√¡°“√∫√‘À“√ ·μàßμ—Èß„À¡à

‡¡◊ËÕ«—π∑’Ë 27 ‡¡.¬. 53 9 π“¬ ÿ®√‘μ °√√¡°“√·≈–°√√¡°“√∫√‘À“√ 4 4 - - - √—∫μ”·Àπàß

ªí®©‘¡π—π∑å ‡¡◊ËÕ«—π∑’Ë 28 ¡’.§. 51 10 π“¬πææ√ °√√¡°“√Õ‘ √–, ª√–∏“π 4 4 4 - - - §√∫«“√–‡¡◊ËÕ‡¥◊Õπ ¡’.§. 51

æß…å‡«™ °√√¡°“√μ√«® Õ∫·≈– ·μàßμ—Èß„À¡à

°√√¡°“√ √√À“·≈–°”Àπ¥ ‡¡◊ËÕ«—π∑’Ë 28 ¡’.§. 51

§à“μÕ∫·∑π 11 æ≈μ”√«®‡Õ° °√√¡°“√Õ‘ √–·≈– 4 4 - - - §√∫«“√–‡¡◊ËÕ‡¥◊Õπ ¡’.§. 51

¡™“¬ °√√¡°“√μ√«® Õ∫ ·μàßμ—Èß„À¡à

ª√–¿— ¿—°¥’ ‡¡◊ËÕ«—π∑’Ë 28 ¡’.§. 51 12 π“¬Õ¡√ °√√¡°“√Õ‘ √–·≈– 4 4 1,000,000 1,000,000 - §√∫«“√–‡¡◊ËÕ‡¥◊Õπ ¡’.§. 51

Õ—»«“π—π∑å °√√¡°“√μ√«® Õ∫ ·μàßμ—Èß„À¡à

‡¡◊ËÕ«—π∑’Ë 28 ¡’.§. 51 13 π“¬ ÿ√ß§å °√√¡°“√Õ‘ √–·≈– 4 4 - - - §√∫«“√–‡¡◊ËÕ‡¥◊Õπ ‡¡.¬. 53

Õß§å‚¶…‘μ °√√¡°“√μ√«® Õ∫ ·μàßμ—Èß„À¡à

‡¡◊ËÕ«—π∑’Ë 27 ‡¡.¬. 53 ‡≈¢“πÿ°“√∫√‘…—∑ : π“ßæ√√≥’ ©—π∑«√≈—°…≥å

À¡“¬‡Àμÿ : * √«¡°“√∂◊ÕÀÿâπ¢Õß§Ÿà ¡√ ·≈–∫ÿμ√∑’Ë¬—ß‰¡à∫√√≈ÿπ‘μ‘¿“«–


No. Name Position Board of Executive Audit Nominating Share

Directors Committee Committee and (No. of Shares) * Increment Note

Remuneration

Committee Year 2009 Year 2010

1 Mr. Boonkiet Chairman & Chairman of 4 4 11,353,410 11,353,410 - Reappointed to another

Chokwatana the Nomination and term on April 28, 2009

Remuneration Committee 2 Mr. Boonsithi Director 4 16,500,000 16,500,000 - Reappointed to another

Chokwatana term on April 28, 2009 3 Mr. Santi Director 4 310,000 310,000 - Reappointed to another

Vilassakdanont term on April 27, 2010 4 Mr. Boonyarith Independent Director 4 50,000 50,000 - Reappointed to another

Mahamontri term on April 28, 2009 5 Mr. Thirasak Director & Chairman of 4 4 4 2,040,000 2,040,000 - Reappointed to another

Vikitset Executive Committees & term on April 28, 2009

Nomination and

Remuneration Director 6 Mr. Tanong Director & Executive 4 4 - - - Reappointed to another

Srichit Committee term on April 28, 2009 7 Mr. Atthakorn Director & Executive 4 4 200,000 200,000 - Reappointed to another

Glankwamdee Committee term on April 27, 2010 8 Mr. Viroj Managing Director & 4 4 - - - Reappointed to another

Theeravatvatee Executive Committee term on April 27, 2010 9 Mr. Sujarit Director & Executive 4 4 - - - Appointed on March

Patchimnun Committee 28, 2008 10 Mr. Nophorn Independent Director & 4 4 4 - - - Reappointed to another

Bhongsvej Chairman of the Audit term on March 28, 2008

Committee & Nomination

and Remuneration

Director 11 Pol. Gen. Independent Director & 4 4 - - - Reappointed to another

Somchai Audit Committee term on March 28, 2008

Prabhasabhakdi 12 Mr. Amorn Independent Director & 4 4 1,000,000 1,000,000 - Reappointed to another

Asvanunt Audit Committee term on March 28, 2008 13 Mr. Surong Independent Director & 4 4 - - - Reappointed to another

Ongkosit Audit Committee term on April 27, 2010 Company Secretary : Mrs. Pannee Chantavoraluk

Remark : * Including shares held by the spouse and minor children.

Board of Directors

The company structure of the Board of Directors as of December 31, 2010 consisted of Board of Directors,

Executive Committee, and Audit Committee, totally 13 directors as reported in the Ministry of Commerceûs

certification, which appointed by the shareholders, which are composed of 9 non-management directors (5 of

whom were independent, which exceeded half of the entire Board), and 5 management directors as listed

following, including the details of each directorsû share holding in 2009 and 2010 as of December 31, 2010 :


¢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°—πÀ√◊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‘π

Õ¬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√◊ÕÀπà«¬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


The authority of the Board is defined as follows:

Authorities and Responsibilities of the Board of Directors

1. 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 a business 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 business relation with the company as shareholders or to

companies with a trading relation of 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 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, damage, lost, destroyed, deteriorated and out of date, which are of the amount greater than authority

of the Executive Board;

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

are deteriorated or out of date;

10. To propose to shareholders and increase of a decrease of capital, a change of share value; modification of

articles of association, regulations and/or objectives of the company;

11. To approve incorporation, merger of dissolution of subsidiaries;

12. To authorize the management, managerial employees of the company, or any other individual to act of their

behalf under the company regulations;

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

documents as necessary;

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

necessary at the expense of the company;

15. To appoint and remove a company secretary;

Authorities and Responsibilities of Audit Committee

The 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 independent directors and at least one director must be qualified in accounting and finance. The

scope of authorities and responsibility of 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, and promotion 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

Stock Exchange 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

auditors for the company, propose the remuneration of such external auditors, and jointly attend the meeting

with the external auditors, at least once a year, without the presence of the companyûs management;


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∫√‘…—∑

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∫‡¢μÕ”π“®Àπâ“∑’Ë¢Õß§≥–°√√¡°“√∫√‘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√◊Õæπ—°ß“πºŸâ¥”√ß

μ”·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∫“∑ ( “¡ ‘∫≈â“π∫“∑∂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∫“∑

( “¡ ‘∫≈â“π∫“∑∂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∫“∑ ( “¡ ‘∫≈â“π∫“∑∂â«π)


5. Review any connected transaction or transactions with potential conflict of interest to be in compliance with

laws and requirements of the Stock Exchange of Thailand in order to ensure that such transactions are

reasonable and provide the best benefits for the company;

6. Prepare the Audit Committee reports to be disclosed in the companyûs annual report; such reports must be

signed by the 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 period determined by the Audit Committee:

(a) transaction with potential conflict of interest;

(b) fraud or irregularity or significant defect in the internal control system; or

(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 management of the company fails to make remedies within the established period, one of the

Audit Committee members may report such transaction or act to the Office of the Securities and Exchange

Commission or the 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 Committee

1. To appoint, remove, transfer evaluate and determine compensation and welfare of employees of different levels;

2. To appoint and remove any other working committee to carry out actions necessary for the management of

the company;

3. To issue regulations and announcements on the companyûs operation, 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 case;

5. 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 case;

6. To approve sourcing and investment in fixed assets, provide that the amount does not exceed Baht 30

million (Thirty million Baht only) per case;


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

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

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“ßÊ ‡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∫·∑π

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

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

3. §≥–Õπÿ°√√¡°“√‚§√ß°“√‚√ßß“π ’¢“«


7. 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 which

are deteriorated or out of date, provided that the book value does not exceed Baht million (One million Baht

only) per case;

9. To authorize executives of the company of other to act on their behalf;

10. To invite members of the management of relevant employees to provide explanations, opinions of documents

as necessary;

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

necessary at the expense of the company;

12. To stipulate and other regulations as deeded appropriate.

Authorities and Responsibilities of the Nominating and Remuneration Committee

Selection

1. To identify and screen individuals who are qualified to serve as company directors;

2 . To review the background of selected individuals to ensure that they are qualified by their knowledge,

competence, experience and expertise in accordance with company regulations and relevant laws;

3. To provide selection opinions or recommendations for the consideration of the Board of Directors;

4. To nominate selected individuals to the Board of Directors for consideration;

5. To revise the Nominating and Remuneration Committee Charter, when needed, and propose it to the Board

of Directors for their approval;

6. To engage in any other action as assigned by the Board of Directors.

Compensation

1. 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 shareholders meeting and the amount paid in the

prior year; and, to propose the determined 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 and

responsibilities, which is not in excess of the amount approved by the shareholders; and, to propose the

determined amount to the Board of Directors for approval;

4. To determine the compensation for members of the Nominating and Remuneration Committee (those who are

not company directors) on the basis of performance as well as duties and responsibilities; and, to propose

the determined amount to the Board of Directors for approval;

5. To revise the Nominating and Remuneration Committee Charter and propose it to the Board of Directors for

approval;

6. To engage in any other action as assigned by the Board of Directors.

Additionally, the Executive Committee has established several committees in order to have employees jointly

organize the internal management appropriately, efficiently, and effectively to the company. Each committee has at

least one Executive Director to be a consultant. The established committees at present are as follows:

1. The Committee of Safety, Occupational Health and Working Environment

2. The Committee of Product Efficiency and Energy Conservation

3. The Committee of White Factory


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

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

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

7. §≥–Õπÿ°√√¡°“√√–¥—∫π‚¬∫“¬§«“¡√—∫º‘¥™Õ∫μàÕ —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‘

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

ª√–°Õ∫·≈–π”‡ πÕμàÕ§≥–°√√¡°“√∫√‘…—∑

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

√“¬™◊ËÕμàÕ∑’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∫√‘…—∑∑’Ë®à“¬„πªï 2552 ·≈–ªï 2553 ¥—ßπ’È (√“¬

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

(Àπà«¬: ∫“∑)

§≥–°√√¡°“√ ªï 2553 ªï 2552 √“¬≈–‡Õ’¬¥¢Õß§à“μÕ∫·∑π

®”π«π√“¬ ®”π«π‡ß‘π ®”π«π√“¬ ®”π«π‡ß‘π

°√√¡°“√ 13 6,785,000 14 6,415,000 ‡∫’È¬ª√–™ÿ¡ ∫”‡ÀπÁ®°√√¡°“√

ºŸâ∫√‘À“√ 11 19,525,900 12 17,479,700 ‡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 °“√ª√–°—π™’«‘μ·≈–Õÿ∫—μ‘‡Àμÿ ‡ªìπμâπ ∑—Èßπ’È ‡ªìπ‰ªμ“¡

π‚¬∫“¬·≈–À≈—°‡°≥±å∑’Ë°”Àπ¥ ‚¥¬‡™◊ËÕ¡‚¬ß°—∫º≈°“√¥”‡π‘πß“π¢Õß∫√‘…—∑œ


4. The Committee of Environmental, Occupational Health and Safety Management

5. The Committee of Quality Management

6. The Committee of Enterprise Risk Management Steering Committee

7. The Committee of Corporate social Responsiblity

Selection of Directors and Executives

The 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 of relevant low, and set up the procedure on how put selected nominee on the list

for consideration and approval;

2. The Nominated and Remuneration Committee will summary and propose qualified nominee to be

appointed as the 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

Nominated and Remuneration Committee, and propose for and approval on the shareholdersû meeting.

Remuneration to the Directors and the Management

The 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 allowances

which had been approved by the shareholders. Whereas, the remuneration paid to the management is tied to each

performance under an assessment system and its key performance indicators, which was proposed to the Board for

review and approval. The remunerations to the Directors and the management for 2010 was as follows:

Remuneration in the cash form

The overall remuneration for the Directors and management of the company in 2009 and 2010 as show in

the table below. Further information of individual remuneration is disclosed in the Section of Executivesû

Remuneration on the annual statements (Form 56-1).

(Unit: Baht)

Board of Directors 2010 2009 Form of Remuneration

Total Amount (Baht) Total Amount (Baht)

Directors 13 6,785,000 14 6,415,000 Meeting fees and remuneration

Executives 11 19,525,900 12 17,479,700 Salary, bonus, and others

Others Remuneration

The 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, life and accident insurance, in accordance with the companyûs policy and regulations related to the

operational performance.


√“¬°“√√–À«à“ß°—π

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

‡ªìπºŸâ∂◊ÕÀÿâπ/Shareholder ¡’ºŸâ∂◊ÕÀÿâπ√à«¡°—π/Common Shareholder

1. ∫¡®. Àæ—≤π“ Õ‘π‡μÕ√å‚Œ≈¥‘Èß 4

Saha Pattana Inter-Holding PCL.

2. ∫¡®. ‡Õ ·Õπ¥å ‡® Õ‘π‡μÕ√å‡π™—Ëπ·π≈ ‡Õπ‡μÕ√å‰æ√ å 4

S&J International Enterprises PCL.

3. ∫¡®. ‰Õ. ’.´’ Õ‘π‡μÕ√å‡π™—Ëπ·π≈ 4

I.C.C. International PCL.

4. ∫¡®. Àæ—≤πæ‘∫Ÿ≈ 4

Saha Pathanapibul PCL.

5. ∫¡®. ª√–™“Õ“¿√≥å 4

Peopleûs Garment PCL.

6. ∫¡®. ‡∑Á°´å‰∑≈å‡æ√ ∑’® 4

Textile Prestige PCL.

7. ∫¡®. ∏πŸ≈—°…≥å 4

Thanulux PCL.

8. ∫¡®. ‰∑¬«“‚°â 4

Thai Wacoal PCL.

9. ∫®. Õ‘π‡μÕ√å‡π™—Ëπ·π≈ ·≈∫∫Õ√“∑Õ√’ å 4

International Laboratories Corp.

10. ∫®. ·™¡ªá‡Õ™ 4

Champ Ace Co., Ltd.

11. ∫®. ÕÕªÕ‡√™—ËππÕ≈ ‡ÕÁπ‡πÕ√å¬’Ë °√ÿäª 4

Operational Energy Group Co., Ltd.

12. ∫®. ‘π¿√“¥√ 4

Sinparadorn Co., Ltd.

13. ∫®. æ‘∑—°…å°‘®

Pitakkij Co., Ltd.

14. ∫®. æ’ ∑’ ‡§ ¡—≈μ‘‡´Õ√å«‘

PTK Multiservices Co., Ltd.

15. ∫®. À‚§‡®π °√’π

Sahacogen Green Co., Ltd.

16 ∫®. À°√’π øÕ‡√ ∑å

Sahagreen Forest Co., Ltd.


Transaction with Related Companies

(Àπà«¬ : ≈â“π∫“∑) / (Unit : Million Baht)

Relationship ≈—°…≥–√“¬°“√/Subject ªï 2553/Year 2010

ºŸâ∫√‘À“√√à«¡°—π/common directors ∫√‘…—∑¬àÕ¬/Subsidiary

4 ≈Ÿ°Àπ’È°“√§â“/Account Receivable 109.2

‡®â“Àπ’È°“√§â“/Account Payable 0.6

¢“¬ ‘π§â“/Sale 1,369.6

§à“„™â®à“¬/Expenses 8.0

§à“‡™à“∑’Ë¥‘π/Land rental expense -

´◊ÈÕ∑’Ë¥‘π -

4

-

4

-

4

-

4

-

4

-

4

-

4

-

4

-

4

-

4 ‡®â“Àπ’È°“√§â“/Account Payable 56.0

§à“„™â®à“¬/Expenses 148.6

4

§à“‡™à“∑’Ë¥‘π/Land rental expense 1.7

4 ‡®â“Àπ’È°“√§â“/Account Payable -

§à“∫√‘°“√/Service Charges 28.3

4 ‡®â“Àπ’È°“√§â“/Account Payable -

§à“∫√‘°“√/Service Charges -

4

‡®â“Àπ’ÈÕ◊Ëπ/Account Payable -

‡®â“Àπ’È‡ß‘π°Ÿâ¬◊¡√–¬– —Èπ/Short Term loan -


¥Õ°‡∫’È¬√—∫ 0.4

4



§«“¡ ¡‡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)

l ≈—°…≥–¢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√–¡“≥ 1,369.6 ≈â“π∫“∑ ·≈–¡’§à“∏√√¡‡π’¬¡°“√§È”ª√–°—π§«“¡μâÕß°“√‰øøÑ“¢—ÈπμË”ª√–¡“≥ 5.5 ≈â“π

∫“∑

l ≈—°…≥–¢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—Èß

Õ¬Ÿà„π «πÕÿμ “À°√√¡‡§√◊Õ Àæ—≤πå-»√’√“™“ ‚¥¬„πªï 2553 ∫√‘…—∑‰¥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‘∏√√¡

2. √“¬°“√√–À«à“ß∫√‘…—∑°—∫∫√‘…—∑ ÕÕªÕ‡√™—ËππÕ≈ ‡ÕÁπ‡πÕ√å¬’Ë °√ÿäª ®”°—¥

l ≈—°…≥–¢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°—π

π’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“¡ —≠≠“ 75.0 ≈â“π∫“∑

·≈–§à“‡™à“‡§√◊ËÕß®—°√ 73.6 ≈â“π∫“∑

3. √“¬°“√√–À«à“ß∫√‘…—∑°—∫∫√‘…—∑ ‘π¿√“¥√ ®”°—¥

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

1.7 ≈â“π∫“∑

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

l ≈—°…≥–¢Õß√“¬°“√ : °“√∫√‘°“√

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

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

¡’°“√‡√’¬°‡°Á∫§à“∫√‘°“√®“°∫√‘…—∑ À‚§‡®π °√’π ®”°—¥ ®”π«π 0.9 ≈â“π∫“∑ ·≈–∫√‘…—∑œ ‡√’¬°‡°Á∫§à“∫√‘°“√

®“°∫√‘…—∑ À‚§‡®π °√’π ®”°—¥ ®”π«π 4.9 ≈â“π∫“∑


Appropriations of Related Transaction

Details of related transactions in 2010 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 market price. The related party transactions in 2010 are as follows:

1. Transaction with Saha Pattana Inter-Holding PCL. (SPI)

l 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 for steam), the electricity energy and steam charges in 2010 was totally Baht

1,369.6 million and fee paid for guarantee of minimum electricity demand was Baht 5.5 million.

l Transaction : Raw Water Purchase Agreement and Water Treatment Services

The 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 tenants in the Sriracha Saha Group Industrial Park. In 2010, the company was charged

for raw water and waste water treatment at the amount of Baht 2.5 million, which this related

transaction between the company and SPI are normal business practices.

2. Transaction with Operational Energy Group Ltd. (OEG)

l Transaction : Operation and Maintenance Agreement, Leased Engine Agreement

The applicable fees under the Operation and Maintenance Agreement with OEG are the normal

market price as charged to its other customers. The leased engine contract was entered with OEG

after thorough evaluation through the bidding process. Therefore, this transaction is reasonable

and is a normal business practice as well. In 2010, the operation and services management fees

was Baht 75.0 million and machinery lease fees was Baht 73.6 million.

3. Transaction with Sinparadorn Co.,Ltd.

l Transaction : Land Rental Agreement

The company has land rental agreement with Sinparadorn Co.,Ltd. of which the leased land was

utilized as the plant access and to accommodate the electricity and steam distribution system.

The rental rate is normal market identical to all tenants located in the Sriracha Saha Group Industrial

Park. Therefore, this transaction between the company and Sinparadorn Co.,Ltd. is reasonable.

The previous land rental expenses was Baht 1.7 million.

4. Transaction with Sahacogen Green Co.,Ltd.

l Transaction : Services Charges

The Company was established Sahacogen Green Co.,Ltd. as subsidiary for the Renewable Energy

Business by which holding 99.99% of share in Sahacogen Green Co.,Ltd. Any services as booked

were normal business conditions. In 2010, the company charged its subsidiary, Sahacogen Green

Co.,Ltd. at the amount of Baht 0.9 million and services revenue at the amount of Baht 4.9 million.


l ≈—°…≥–¢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

0.4 ≈â“π∫“∑

5. √“¬°“√√–À«à“ß∫√‘…—∑°—∫∫√‘…—∑ À°√’π øÕ‡√ ∑å ®”°—¥

l ≈—°…≥–¢Õß√“¬°“√ : °“√∫√‘°“√

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

‚¥¬∫√‘…—∑‡ªìπºŸâ∂◊ÕÀÿâπ 75% ®÷ß∂◊Õ«à“√“¬°“√∑’Ë‡°‘¥¢÷Èπ®“°°“√√à«¡∑ÿπ°—∫∫√‘…—∑ ¬“¡øÕ‡√ ∑√’ ®”°—¥ „π°≈ÿà¡

∏ÿ√°‘®°√–¥“…‡ªìπ‰ªμ“¡¡Ÿ≈§à“∫—≠™’ ‚¥¬„πªï∑’Ëºà“π¡“∫√‘…—∑œ ¡’°“√‡√’¬°‡°Á∫§à“∫√‘°“√ ®”π«π 2.1 ≈â“π∫“∑

¡“μ√°“√À√◊Õ¢—ÈπμÕπ°“√Õπÿ¡—μ‘°“√∑”√“¬°“√√–À«à“ß°—π

°“√∑”√“¬°“√√–À«à“ß°—π¢Õß∫√‘…—∑ °—∫π‘μ‘∫ÿ§§≈À√◊Õ∫ÿ§§≈∑’ËÕ“®¡’§«“¡¢—¥·¬âß°—π®–μâÕß¡’°“√‡ πÕ∑’Ëª√–™ÿ¡

§≥–°√√¡°“√∫√‘…—∑·≈–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¡’ à«π‰¥â‡ ’¬„π°“√∑”√“¬°“√√–À«à“ß°—π®–‰¡à¡’ ‘∑∏‘ÕÕ°‡ ’¬ß≈ß¡μ‘„π°“√∑”

√“¬°“√√–À«à“ß°—π

π‚¬∫“¬À√◊Õ·π«‚πâ¡°“√∑”√“¬°“√√–À«à“ß°—π„πÕπ“§μ

√“¬°“√√–À«à“ß°—π¢Õß∫√‘…—∑„πÕπ“§μ ®–‡ªìπ√“¬°“√∑’Ë¥”‡π‘π°“√∑“ß∏ÿ√°‘®μ“¡ª°μ‘‡™àπ‡¥‘¡ ‚¥¬∫√‘…—∑¡’·π«‚πâ¡

°“√∑”√“¬°“√√–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 ·≈–¢âÕ°”Àπ¥¢Õßμ≈“¥À≈—°∑√—æ¬å·Ààßª√–‡∑»‰∑¬ ·≈–∫√‘…—∑®–∑”°“√

‡ªî¥‡º¬√“¬°“√√–À«à“ß°—πÀ√◊Õ√“¬°“√‡°’Ë¬«‚¬ß¥—ß°≈à“«‰«â„πÀ¡“¬‡Àμÿª√–°Õ∫ß∫°“√‡ß‘πμ“¡¡“μ√∞“π∫—≠™’∑’Ë°”Àπ¥‚¥¬

¿“«‘™“™’æ∫—≠™’ ·≈–μ“¡√–‡∫’¬∫¢Õß ”π—°ß“π§≥–°√√¡°“√°”°—∫À≈—°∑√—æ¬å·≈–μ≈“¥À≈—°∑√—æ¬å·Ààßª√–‡∑»‰∑¬


l Transaction : Interest Income

In 2010, the company charged its subsidiary, Sahacogen Green Co.,Ltd. for short term loan by

calculating interest rate equivalent to lowest loan interest rate of commercial banks charged in

general or the maximum deposit interest rate. The total interest income charged in the previous year

was Baht 0.4 million.

5. Transaction with Sahagreen Forest Co.,Ltd.

l Transaction : Services Charges

The Company has established a joint venture compamy with Siam Forestry Co.,Ltd. a paper

business subsidiary of the Siam Cement Group namely Sahagreen Forest Co.,Ltd. as subsidiary for

the renewable energy business by holding 75% issue share. Any services as booked were normal

business conditions. In 2010 the company charged its subsidiary at amount of Baht 2.1 million.

Procedural Approval of Related Business Transaction

According 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 of the 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 interests will not have right to vote on the approval of such related

transactions.

Policy or Potential Related Transaction in the Future

The 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 future related transactions be fully controlled according to the law, rules and regulations of the Stock

Exchange of Thailand and all to be disclose in the financial statements audited by the auditor.


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In 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 Risks

l Risks from the Expiry of the Concession to Operate the Power Business

Reference to the Energy Regulatory Commission Notification on Energy Industry Operation License Types

and Classifications B.E.2008, the companyûs concession to operate the power business for 15 years was

cancelled and changed to energy industry operation license which will be valid to 15 years or expiry in

2014. As a result, the competently competes and bears the risk in case of its concession not being

extended and not effected to the 25-year contract signed with EGAT and the 15-year contract signed

with Saha Pattana Inter-Holding PCL.

l Raw Materials Risk

To secure essential raw materials: natural gas and raw water, the company has defined alleviating

measures by signing a contract with the PTT Public Company Limited for 21 years with four years

extendable to purchase its natural gas, effective on the commercial date. Meanwhile, a 25-year contract

with the Eastern Water Resources Development and Management PCL was signed for the raw water

supply. In emergency case, the raw water can be drawn from a reservoir in the Sriracha Saha Group

Industrial Park and 2,000 cubic meters retention pond within the power plant.

l Risk of Changes in Raw Materials Prices

The changes in main raw material prices such as gas price shall not be severely impacted to the

company revenue since the company has compensation from the energy charge which calculated using a

formula linked to the respective natural gas price. Additionally, the electricity charged to Saha Pattana

Inter-Holding PCL is referenced with the electricity tariff of the Provincial Electricity Authority. The tariff

contains one component called a 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 changes in FT is not consistently with the fluctuation of the gas price, such impact might

affected to the company since we have continually improve and develop production process effectively to

compensate the high cost of sales.

l Risk in Dependence on Operation and Maintenance

OEG is the contractor on operation and maintenance the companyûs power plant, however, the risk on

contract termination is quite low. Since both OEG and the company have a common shareholder namely

S&J International Enterprises PCL. In addition, the company has set key performance index to access its

performance to ensure that it operation is efficiently and effectively.

l Environmental and Safety Risk

The company has realized the importance of monitoring and controlling the environmental and safety

impact in accordance with all relevant regulatory standards. The environmental and safety management

has been assigned to monitor, assess and control any impacts and biannually reported on Environment

Risk Factors and Management


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Impact Assessment regularly by submiting to the Office of Natural Resources and Environmental Policy

and Planning (ONEP). Such continual proactive management resulted in awarded and certificated as the

good corporate practicing in accordance with the criteria of the good environmental governance on the

Good Environmental Governance in the workplace Project, held by the Department of Industrial Works,

Ministry of Industry. As such the company does not foresee any environmental risks which may cause

suspended operation or major cost for environmental control improvement.

Business Risks

l 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, since the commencement date till now, the company has continually fulfilled all obligations

under the contract, the risk of early termination is deemed low.

l Risk in Reduction of Electricity Purchase Demand of EGAT

To address risks on reduction in the amount purchased in case that the company cannot supply the full

amount of electricity as contracted and cannot solve this problem within 18 months by EGAT, the

company has defined the conditions in the operation and maintenance agreement that OEG has to

guarantee the capacity and reliability of the electricity supply to EGAT, especially during peak periods.

Moreover, the increased production capacity from the expansion project not only ensures adequate

electricity supply to EGAT but also provides reserved capacity to capture the industrial growth of 40% of

the existing demand.

Financial Risks

l Fluctuation in Exchange Rate Risk

The fluctuation in exchange rate between Baht and the US Dollar directly affected the majority of the

companyûs revenue from electricity capacity charge to EGAT. Since 80% of the capacity charges are indexed

to the US currency rate. However, each one baht change in the exchange rate will affect the companyûs

income approximately 0.70% of the overall income, the risk on fluctuation in exchange rate is low.

l Risk of Interest Rate

As the risk on fluctuation of interest rate and possibility to the range of interest rate rising, it might be

affected to the long-term loan interest rate. The company has therefore planned and met with several

financial institutes on restructure interest rate of loan term to be fixed interest rate. It is estimated to

completely within 2011 in order that the company carries low interest risk.


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°“√°”°—∫¥Ÿ·≈°‘®°“√


The Board of Directors of the company places importance on the building of good governance and

carrying on business with transparency, integrity and accountability to performance, being competitive and fair

to all parties concerned, in order to create prosperity and add economic value and wealth to shareholders.

Management of 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 planning and operation. At the same time all executives and employees are

encouraged to be ethical, honest, diligent, patient, and to share and use wisdom in their conduct, in order to

cope with economic, political, cultural and social changes for balanced 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 regularly reviewed. The company considers its good governance policy, business ethics and

code of conduct to be appropriate to the present situation, and they have been circulated to the directors,

executives and employees and publicized on the companyûs website 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 good governance practice for listed companies the Stock Exchange of Thailand:

Chapter 1: Rights of Shareholders

Shareholders 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

shareholders to exercise their rights and treats every shareholder equally. The basic rights of shareholders are

purchase and sale or transfer of shares, sharing in profits, adequate access to news and information of the

company, attendance of shareholdersû meeting to voice their opinion and participate in decision-making by voting

at the shareholdersû meeting, e.g. election of the companyûs directors, determination of remuneration of the

companyûs directors, appointment of auditor and approval of matters affecting the company.

In addition to their basic rights, the company also takes steps taking into account rights of shareholders,

without impingement 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 in both 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,

connected transactions, purchase or sale of material assets, top 10 shareholders of the company on the

date of close of shareholders register for annual general shareholdersû meeting, minutes of shareholdersû

meeting, which must be completed within 14 days from the date of the meeting, and essential information

for decision-making by shareholders.

1.2 Right to attend shareholdersû meeting:

The company has held the annual general shareholdersû meeting within 4 months from the last day of its

fiscal year. In 2010, the company, for ease of shareholders, held such meeting No. 8 on April 27, 2010 at

Montien Riverside Hotel, No. 372 Rama 3 Road Bangkhlo, Bangkok, Thailand.

Corporate Governance


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Õ¬à“ß‡μÁ¡∑’Ë ‚¥¬«—π ‡«≈“ ·≈– ∂“π∑’Ëª√–™ÿ¡ ‰¡à‡ªìπÕÿª √√§„π°“√‡¢â“√à«¡ª√–™ÿ¡ Õ’°∑—Èß‰¥â®—¥„Àâ¡’‡®â“Àπâ“∑’Ë§Õ¬

μâÕπ√—∫Õ”π«¬§«“¡ –¥«°„π°“√≈ß∑–‡∫’¬π‡¢â“ª√–™ÿ¡Õ¬à“ß‡æ’¬ßæÕ ·≈–√—∫≈ß∑–‡∫’¬π≈à«ßÀπâ“°àÕπ‡«≈“ª√–™ÿ¡

‰¡àπâÕ¬°«à“ 2 ™—Ë«‚¡ß ·≈–„Àâ ‘∑∏‘ºŸâ∂◊ÕÀÿâπ∑’Ë¡“√à«¡ª√–™ÿ¡¿“¬À≈—ß®“°∑’Ë‰¥â‡√‘Ë¡°“√ª√–™ÿ¡·≈â« ¡’ ‘∑∏‘ÕÕ°‡ ’¬ß≈ß§–·ππ

„π«“√–∑’Ë¬—ß‰¡à¡’°“√æ‘®“√≥“·≈–„Àâπ—∫‡ªìπÕß§åª√–™ÿ¡μ—Èß·μà«“√–∑’Ë„™â ‘∑∏‘„π°“√ÕÕ°‡ ’¬ß ∫√‘…—∑‰¥â„™â√–∫∫‡∑§‚π‚≈¬’

„π°“√π—∫§–·ππ‡ ’¬ß∑’Ë≈ß¡μ‘„π·μà≈–«“√–¥â«¬√–∫∫ Barcode ·≈– √ÿªº≈„ÀâºŸâ∂◊ÕÀÿâπ∑√“∫‰¥âÕ¬à“ß√«¥‡√Á«·≈–‚ª√àß„

æ√âÕ¡®—¥„Àâ¡’Õ“°√· μ¡ªá‡æ◊ËÕμ‘¥Àπ—ß ◊Õ¡Õ∫©—π∑–‰«âÀπâ“ß“π √«¡∑—Èß®—¥„Àâ¡’°“√‡≈’È¬ß√—∫√Õß∑’Ë‡À¡“– ¡·°àºŸâ∂◊ÕÀÿâπ∑’Ë¡“

ª√–™ÿ¡¥â«¬

°“√¥”‡π‘π°“√ª√–™ÿ¡ºŸâ∂◊ÕÀÿâπ·μà≈–§√—Èß ∫√‘…—∑®–√“¬ß“πº≈°“√¥”‡π‘πß“π Õ—μ√“°“√®à“¬‡ß‘πªíπº≈ °“√æ‘®“√≥“·≈–

ÕÕ°‡ ’¬ß≈ß§–·ππ„π‡√◊ËÕßμà“ßÊ μ“¡∑’Ë°ÆÀ¡“¬·≈–¢âÕ∫—ß§—∫∫√‘…—∑°”Àπ¥ ·≈–‡¡◊ËÕ∂÷ß‡«≈“ª√–™ÿ¡‡≈¢“πÿ°“√∫√‘…—∑

‰¥â·®âß®”π«π/ —¥ à«πºŸâ∂◊ÕÀÿâπ∑’Ë‡¢â“ª√–™ÿ¡ À≈—ß®“°π—Èπ ª√–∏“π°√√¡°“√∫√‘…—∑°≈à“«‡ªî¥ª√–™ÿ¡·≈–∑”Àπâ“∑’Ëª√–∏“π∑’Ë

ª√–™ÿ¡‚¥¬‰¥â™’È·®ß„Àâ∑√“∫∂÷ß°Æ‡°≥±åμà“ßÊ ∑’Ë„™â„π°“√ª√–™ÿ¡ ¢—ÈπμÕπ°“√ÕÕ°‡ ’¬ß≈ß¡μ‘·≈–‰¥â¥”‡π‘π°“√ª√–™ÿ¡„Àâ

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

®—¥ √√‡«≈“„Àâ‡À¡“– ¡‡æ’¬ßæÕ ”À√—∫°“√π”‡ πÕª√–‡¥Áπμà“ßÊ ¢Õß·μà≈–«“√– ‡ªî¥‚Õ°“ „ÀâºŸâ∂◊ÕÀÿâπ´—°∂“¡·≈–

· ¥ß§«“¡§‘¥‡ÀÁπ‰¥âÕ¬à“ß‡μÁ¡∑’Ë„π·μà≈–«“√– ´÷Ëß„πªï∑’Ëºà“π¡“‰¡à¡’ºŸâ∂◊ÕÀÿâπ´—°∂“¡À√◊Õ· ¥ß§«“¡§‘¥‡ÀÁπ‡æ‘Ë¡‡μ‘¡·μàÀ“°

ªï„¥¡’ºŸâ∂◊ÕÀÿâπ´—°∂“¡À√◊Õ· ¥ß§«“¡§‘¥‡ÀÁπ‡æ‘Ë¡‡μ‘¡ §≥–°√√¡°“√∫√‘…—∑®–μÕ∫¢âÕ´—°∂“¡Õ¬à“ß™—¥‡®πμ√ßª√–‡¥Áπ

¡’°“√ √ÿªº≈°“√≈ß¡μ‘®“°°“√π—∫§–·ππ‡ ’¬ß„π·μà≈–«“√– ·≈–· ¥ßº≈°“√≈ß§–·ππ„π·μà≈–«“√–„ÀâºŸâ∂◊ÕÀÿâπ‰¥â

√—∫∑√“∫


Before the date of the shareholdersû meeting

The company will notify the schedule of shareholdersû meeting 7 weeks before the date of meeting, which

was February 26, 2010 so that shareholders can arrange their time to attend the meeting. In 2010, the

general annual shareholdersû meeting was held on April 27, 2010, and the notice of the meeting together

with all meeting documents with the same contents as those to be delivered to shareholders in a hard

copy were publicized through the companyûs website in Thai and English languages in advance, so that

shareholders could study them in advance before delivery of those documents on March 27, 2010. At

each agenda item there were facts and reasons 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, directions on documents and evidences to be produced by

shareholders in attending the meeting, the companyûs articles of association relating to the general annual

shareholdersû meeting and meeting procedure. The company authorized Thailand Securities Depository

Co.,Ltd. the companyûs share registrar, to deliver them to shareholders 14 days before the date of the

shareholdersû meeting, so that shareholders who were not able to attend the meeting in person could

authorize other or an independent director indicated in the proxy form stipulated by the Ministry of

Commerce to attend and vote on behalf of the shareholders. The invitation letter was also announced in

daily newspapers for 3 consecutive days from April 19-21, 2010, five days prior to the meeting date.

The date of shareholdersû meeting

The companyûs directors place importance on shareholdersû meeting and it is considered as their duty to

attend the meeting except in case of illness or important engagement. At the general annual shareholdersû

meeting No. 8 held on April 27, 2010, all directors were present. In addition, Project & Engineering

Department Manager, Administration Department Manager, Accounting Division Manager, QSE Division

Manager, and 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

shareholdersû meeting and vote, with the date, time and place of meeting not being an obstacle to

attending the meeting. Adequate personnel were also provided to facilitate the registration of the meeting

and registration was commenced for not less than 2 hours prior to the time of the meeting. Shareholders

who attended the meeting after the meeting had commenced were allowed to vote on the agenda items

not yet considered, and their presence was counted as part of the quorum since the agenda item on

which voting was made. The company used barcode system to count the votes cast on each agenda

item and the results were announced to shareholders promptly and transparently. Duty stamps for affixing

on proxies was also provided at the front desk. Appropriate catering was provided to shareholders

attending the meeting.

At each shareholdersû meeting, the company would report its results of operations, rate of dividend,

consideration of and voting on matters required by law and articles of association. At the beginning of the

meeting, the company secretary reported the number/proportion of shareholders attending the meeting.

Then the Chairman of the Board declared the meeting convened and presided over the meeting. He

explained rules applicable to the meeting and procedure of voting, and conducted the meeting in

accordance with the agenda, without adding agenda items or changing essential information without prior

notice to shareholders. Appropriate and adequate time was allocated for discussion of issues of each

agenda item. The shareholders were provided with an opportunity to ask questions and 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

their questions. Result of voting at each agenda item would be concluded and presented to shareholders.


«“√–°“√ª√–™ÿ¡ºŸâ∂◊ÕÀÿâπ∑’Ë ”§—≠ ‰¥â·°à

(1) °“√‡≈◊Õ°μ—Èß°√√¡°“√∫√‘…—∑ : ∫√‘…—∑‡ªî¥‚Õ°“ „ÀâºŸâ∂◊ÕÀÿâπ„™â ‘∑∏‘‡≈◊Õ°μ—Èß°√√¡°“√‡ªìπ√“¬∫ÿ§§≈ ‚¥¬¡’¢âÕ¡Ÿ≈

‡∫◊ÈÕßμâπ¢Õß∫ÿ§§≈∑’Ë‡ πÕ„Àâ‡≈◊Õ°μ—Èß√«¡∑—Èß¢âÕ¡Ÿ≈„π°“√¥”√ßμ”·Àπàß„π°‘®°“√Õ◊Ëπ¢Õß∫ÿ§§≈ºŸâ∂Ÿ°‡ πÕ™◊ËÕ ®–√–∫ÿ

‰«âÕ¬à“ß™—¥‡®π „π°√≥’∑’Ë∫ÿ§§≈ºŸâ∂Ÿ°‡ πÕ™◊ËÕ‡ªìπ°√√¡°“√„π∫√‘…—∑∑’Ëª√–°Õ∫°‘®°“√Õ—π¡’ ¿“æÕ¬à“ß‡¥’¬«°—π·≈–

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‚¥¬‰¥âºà“π°“√æ‘®“√≥“°≈—Ëπ°√Õß®“°§≥–°√√¡°“√ √√À“·≈–°”Àπ¥§à“μÕ∫·∑π‡æ◊ËÕ„Àâ ‰¥â∫ÿ§§≈∑’Ë‡À¡“– ¡

°àÕπ‡ πÕ§≥–°√√¡°“√∫√‘…—∑

(2) °”Àπ¥§à“μÕ∫·∑π°√√¡°“√∫√‘…—∑ : ∫√‘…—∑‰¥â¡’°“√‡ πÕ«ß‡ß‘π§à“μÕ∫·∑π„Àâ∑’Ëª√–™ÿ¡ºŸâ∂◊ÕÀÿâπÕπÿ¡—μ‘‡ªìπª√–®”

∑ÿ°ªï ‚¥¬§≥–°√√¡°“√ √√À“·≈–°”Àπ¥§à“μÕ∫·∑ππ”‡ πÕμàÕ§≥–°√√¡°“√∫√‘…—∑‡æ◊ËÕæ‘®“√≥“ ·≈–‰¥â¡’°“√

·®âß„Àâ∑√“∫∂÷ß«ß‡ß‘π∑’Ë ‰¥â√—∫Õπÿ¡—μ‘·≈–®”π«π‡ß‘π∑’Ë®à“¬‰ª®√‘ß¢Õßªï∑’Ëºà“π¡“ æ√âÕ¡ √ÿª®”π«π‡ß‘π∑’Ë®à“¬„Àâ·°à

°√√¡°“√∫√‘…—∑‡ªìπ√“¬∫ÿ§§≈„π·∫∫ 56-1

(3) °“√·μàßμ—ÈßºŸâ Õ∫∫—≠™’·≈–°”Àπ¥®”π«π‡ß‘π§à“ Õ∫∫—≠™’ : ∫√‘…—∑®–·®âß¢âÕ¡Ÿ≈¢ÕßºŸâ Õ∫∫—≠™’ ”π—°ß“π Õ∫

∫—≠™’ §«“¡‡ªìπÕ‘ √– ·≈–®”π«πªï∑’Ë∑”Àπâ“∑’Ëμ√«® Õ∫∫—≠™’„Àâ·°à∫√‘…—∑ √«¡∑—Èß‡ª√’¬∫‡∑’¬∫§à“ Õ∫∫—≠™’√–À«à“ß

ªïªí®®ÿ∫—π°—∫ªï∑’Ëºà“π¡“ ∑’Ë‰¥âºà“π°“√æ‘®“√≥“®“°§≥–°√√¡°“√μ√«® Õ∫ ·≈–§à“∫√‘°“√Õ◊Ëπ∑’Ë¡’°“√√—∫∫√‘°“√®“°

”π—°ß“π Õ∫∫—≠™’∑’ËºŸâ Õ∫∫—≠™’ —ß°—¥‡ πÕ„ÀâºŸâ∂◊ÕÀÿâπæ‘®“√≥“Õπÿ¡—μ‘

(4) °“√®à“¬‡ß‘πªíπº≈ : ∫√‘…—∑®–·®âß¢âÕ¡Ÿ≈‡°’Ë¬«°—∫π‚¬∫“¬°“√®à“¬‡ß‘πªíπº≈ ®”π«π‡ß‘π∑’Ë®à“¬®√‘ß‡∑’¬∫°—∫π‚¬∫“¬

·≈–‡ª√’¬∫‡∑’¬∫‡ß‘πªíπº≈∑’Ë®à“¬√–À«à“ßªïªí®®ÿ∫—π°—∫ªï∑’Ëºà“π¡“

‚¥¬„πªï 2553 ∫√‘…—∑‰¥â∫—π∑÷°«’¥’∑—»πå¿“æ°“√ª√–™ÿ¡ºŸâ∂◊ÕÀÿâπμ≈Õ¥√–¬–‡«≈“°“√ª√–™ÿ¡ ·≈–‰¥â‡º¬·æ√àºà“π website

¢Õß∫√‘…—∑ www.sahacogen.com

À≈—ß«—πª√–™ÿ¡ºŸâ∂◊ÕÀÿâπ

À≈—ß‡ √Á® ‘Èπ«—πª√–™ÿ¡ºŸâ∂◊ÕÀÿâπ ∫√‘…—∑‰¥â®—¥∑”√“¬ß“π°“√ª√–™ÿ¡ “¡—≠ºŸâ∂◊ÕÀÿâπÕ¬à“ß≈–‡Õ’¬¥ ¡’√“¬™◊ËÕ°√√¡°“√∫√‘…—∑

∑’Ë‡¢â“/‰¡à‡¢â“√à«¡ª√–™ÿ¡ √«¡∑—Èß “‡Àμÿ°“√≈“ §”™’È·®ß∑’Ë‡ªìπ “√– ”§—≠ §”∂“¡·≈–§”μÕ∫À√◊Õ¢âÕ§‘¥‡ÀÁπ‚¥¬ √ÿª (À“°¡’)

„πªï∑’Ëºà“π¡“‰¡à¡’ºŸâ∂◊ÕÀÿâπ´—°∂“¡À√◊Õ· ¥ß§«“¡§‘¥‡ÀÁπ‡æ‘Ë¡‡μ‘¡ √“¬≈–‡Õ’¬¥„π·μà≈–«“√–‡ªìπ‰ªμ“¡¢âÕ‡∑Á®®√‘ß„π∑’Ëª√–™ÿ¡

¡’°“√ √ÿªº≈°“√≈ß§–·ππ‡ ’¬ß„π·μà≈–«“√–‚¥¬·¬°‡ªìπ‡ÀÁπ¥â«¬ ‰¡à‡ÀÁπ¥â«¬·≈–ß¥ÕÕ°‡ ’¬ß ÷Ëß√“¬ß“π°“√ª√–™ÿ¡

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∫√‘…—∑„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¡·≈–

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√—°…“ ‘∑∏‘¢Õßμπ‰¥â ´÷Ëß∫√‘…—∑‰¥â„Àâ™◊ËÕ∑’ËÕ¬Ÿà ·≈–°“√¡’ à«π‰¥â‡ ’¬„π«“√–°“√ª√–™ÿ¡¢Õß°√√¡°“√μ√«® Õ∫∑—Èß 4 §π

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ºŸâ√—∫¡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


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 a company 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 by the Nomination and Remuneration Committees

for proposed to the shareholdersûmeeting are disclosed

(2) Determination of remuneration of directors : The company proposes the remuneration for approval

by the shareholdersû meeting every year based on the results of its operations, amount of remuneration

paid in the previous year, and the authorities and responsibilities of the Board of Directors. The

Nomination and Remuneration Committees propose the Board of Directors on such remuneration, which

who approved and paid for consideration before proposing for consideration to the shareholdersû

meeting for approval. The remuneration was paid to each director was disclosed on from 56-1.

(3) Appointment of auditor and fixing of audit fee : The company will report to the shareholders for

approval information 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 passed deliberation 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

under the policy, and comparison between the dividend paid in the current year with that of the previous year.

To transparently monitor shareholdersû meeting, the company recorded video tape throughout the meeting

period and shown on the companyûs website at www.sahacogen.com.

After the date of the shareholdersû meeting

After the date of the shareholdersû meeting, the company will prepare minutes of the annual general meeting

stating the names of directors present/absent, cause of their absence, material explanations, questions and

answers or comments in summary (if any). Details for each agenda item will reflect the reality at the meeting.

Results of voting at each agenda item will be classified as voting for, voting against and abstention. The said

minutes will be reviewed by the Executive Board and the Chairman of the Board before signing by the chairman of

the meeting, and they will be sent to the Stock Exchange of Thailand and the Office of the Securities and

Exchange Commission and publicized on the companyûs website within 14 days from the date of the shareholdersû

meeting in Thai and English languages, so that the shareholders can examine them without waiting until the next

meeting. They will also be submitted to the Ministry of Commerce within the period required by law.

Chapter 2: Equal Treatment of Shareholders

The 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

companyûs website in both Thai and English languages, so that all shareholders can consider and vote on

the affairs of the company according to the agenda. If a shareholder is unable to attend the meeting, he or

she can appoint a proxy or a member of the Audit Committee, who is an independent director of the

company, to attend the meeting as representative to preserve his or her rights. The company has indicated

the name, address and interest of each of the 4 members of the Audit Committee in the agenda of the

notice so that shareholders can use such information in case he or she wishes to select a member of the

Audit Committee as his or her proxy, and the information on the 4 members of the Audit Committee is


∫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∫√‘…—∑ ∑—Èß 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 2553 ∫√‘…—∑®—¥„Àâ¡’°“√ª√–™ÿ¡ “¡—≠ºŸâ∂◊ÕÀÿâπ §√—Èß∑’Ë 8 ‡¡◊ËÕ«—π∑’Ë

27 ‡¡…“¬π 2553 ¡’ºŸâ∂◊ÕÀÿâπ‡¢â“√à«¡ª√–™ÿ¡∑—ÈßÀ¡¥ 89 ∑à“π ∂◊ÕÀÿâπ√«¡ 821,810,790 Àÿâπ §‘¥‡ªìπ 86.05% ¢Õß®”π«π

Àÿâπ∑—ÈßÀ¡¥∑’Ë¡’ ‘∑∏‘ÕÕ°‡ ’¬ß‚¥¬¡’ºŸâ∂◊ÕÀÿâπ∑’Ë‰¥â¡Õ∫©—π∑–„Àâ°√√¡°“√μ√«® Õ∫‡ªìπ‡ªìπºŸâ√—∫¡Õ∫©—π∑– ®”π«π 3 ∑à“π

∂◊ÕÀÿâπ√«¡ 142,152,500 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∑√“∫≈à«ßÀπâ“

2.1 °“√≈ß§–·ππ‡ ’¬ß„π·μà≈–«“√–®–°√–∑”‚¥¬‡ªî¥‡º¬ ¡’°“√‡μ√’¬¡∫—μ√≈ß§–·ππ„ÀâºŸâ∂◊ÕÀÿâπ∑ÿ°«“√– °“√π—∫

§–·ππ®–π—∫‡©æ“–ºŸâ∑’Ë ‰¡à‡ÀÁπ¥â«¬·≈–/À√◊Õß¥ÕÕ°‡ ’¬ß‡∑à“π—Èπ ·≈–®–π”¡“À—°ÕÕ°®“°®”π«π‡ ’¬ß∑—ÈßÀ¡¥

∑’Ë‡¢â“√à«¡ª√–™ÿ¡ à«π∑’Ë‡À≈◊Õ®–∂◊Õ«à“‡ªìπ§–·ππ∑’Ë‡ÀÁπ¥â«¬ ¥—ßπ—ÈπÀ“°„π·μà≈–«“√–¡’ºŸâ∂◊ÕÀÿâπ∑à“π„¥∑’Ë‰¡à‡ÀÁπ¥â«¬

À√◊Õß¥ÕÕ°‡ ’¬ß ®–™ŸªÑ“¬§–·ππ∑’Ë‰¥â√—∫‡¡◊ËÕ≈ß∑–‡∫’¬π ´÷ËßªÑ“¬§–·πππ—Èπ®–¡’™◊ËÕ¢ÕßºŸâ‡¢â“ª√–™ÿ¡ ®”π«πÀÿâπ∑’Ë∂◊Õ

À√◊Õ∑’Ë‰¥â√—∫¡Õ∫©—π∑–·≈–·∂∫ Barcode ®“°π—Èπ‡®â“Àπâ“∑’Ë®–π”∫—μ√≈ß§–·ππ‡ ’¬ß‰ª„ÀâºŸâ∂◊ÕÀÿâπ∑à“ππ—Èπ ≈ßπ“¡

‡°Á∫‰«â‡ªìπÀ≈—°∞“π ‡æ◊ËÕ§«“¡‚ª√àß„ ·≈–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 ‚¥¬¡’π“ß “« ÿæ√√≥’ ‡À≈◊Õß ∂‘μ¬å ∑π“¬§«“¡ ®“°∫√‘…—∑ «’√–≈Õ«å

ÕÕøøî ®”°—¥ √à«¡‡ªìπ —°¢’æ¬“π„π°“√π—∫§–·ππ

2.2 °“√¥Ÿ·≈°“√„™â¢âÕ¡Ÿ≈¿“¬„π ∫√‘…—∑¡’¡“μ√°“√¥Ÿ·≈°“√„™â¢âÕ¡Ÿ≈¿“¬„π ‚¥¬°”Àπ¥‰«â„π®√‘¬∏√√¡∑’ËμâÕßªØ‘∫—μ‘

μàÕ∫√‘…—∑·≈–ºŸâ∂◊ÕÀÿâπ·≈–°”Àπ¥‰«â„π®√√¬“∫√√≥„Àâ°√√¡°“√∫√‘…—∑ ºŸâ∫√‘À“√ ·≈–æπ—°ß“π ªØ‘∫—μ‘Àπâ“∑’Ë¥â«¬§«“¡

´◊ËÕ —μ¬å ¡’§«“¡√—∫º‘¥™Õ∫ ¡’«‘π—¬·≈–¡’®‘μ ”π÷°∑’Ë¥’μàÕ à«π√«¡·≈–μàÕμπ‡Õß ‰¡à„™âμ”·ÀπàßÀπâ“∑’Ë· «ßÀ“

ª√–‚¬™πå‡æ◊ËÕμπ‡Õß ·≈–/À√◊ÕºŸâÕ◊Ëπ‚¥¬¡‘™Õ∫ √—°…“º≈ª√–‚¬™πå·≈–∑√—æ¬å ‘π¢Õß∫√‘…—∑ ‚¥¬‰¡àπ”¢âÕ¡Ÿ≈·≈–

∑√—æ¬å ‘π¢Õß∫√‘…—∑‰ª„™â‡æ◊ËÕª√–‚¬™πå¢Õßμπ‡Õß ·≈–/À√◊ÕºŸâÕ◊Ëπ ·≈–Àâ“¡°√–∑”°“√Õ—π‡ªìπ°“√ π—∫ πÿπ∫ÿ§§≈

Õ◊Ëπ„¥„Àâ∑”∏ÿ√°‘®·¢àß¢—π°—∫∫√‘…—∑ ÷Ëß∫√‘…—∑‰¥âª√–°“»„Àâ·°à°√√¡°“√∫√‘…—∑ ºŸâ∫√‘À“√·≈–æπ—°ß“π ‡æ◊ËÕ‡ªìπ·π«∑“ß

„π°“√ªØ‘∫—μ‘μπ„π°“√¥”‡π‘π∏ÿ√°‘® ·≈–‡ªìπÀ≈—°¬÷¥∂◊Õ„π°“√∑”ß“π ·≈–‡º¬·æ√à∫π‡«Á∫‰´μå¢Õß∫√‘…—∑

πÕ°®“°π’È„π√–‡∫’¬∫¢âÕ∫—ß§—∫‡°’Ë¬«°—∫°“√∑”ß“π¢Õß∫√‘…—∑°Á¡’°“√°”Àπ¥„π‡√◊ËÕß¥—ß°≈à“« ‚¥¬°”Àπ¥∫∑

≈ß‚∑…∑“ß«‘π—¬‰«â Ÿß ÿ¥ §◊Õ °“√‡≈‘°®â“ß ´÷Ëß°√√¡°“√∫√‘…—∑ ºŸâ∫√‘À“√ ·≈–æπ—°ß“π°Á‰¥âªØ‘∫—μ‘μ“¡∑’Ë°”Àπ¥

2.3 °“√°”Àπ¥‡√◊ËÕß°“√´◊ÈÕ¢“¬À≈—°∑√—æ¬å¢Õß∫√‘…—∑‰«â „π®√√¬“∫√√≥ ∫√‘…—∑‰¥â°”Àπ¥Àâ“¡¡‘„Àâ°√√¡°“√∫√‘…—∑

ºŸâ∫√‘À“√ ·≈–æπ—°ß“π ÷ËßÕ¬Ÿà„πÀπà«¬ß“π∑’Ë√—∫∑√“∫¢âÕ¡Ÿ≈¿“¬„π∑”°“√ ◊ÈÕÀ√◊Õ¢“¬À≈—°∑√—æ¬å¢Õß∫√‘…—∑„π™à«ß

1 ‡¥◊Õπ °àÕπ°“√‡ªî¥‡º¬ß∫°“√‡ß‘π·°à “∏“√≥™π ‚¥¬„™â™àÕß∑“ß°“√‡º¬·æ√à¢âÕ¡Ÿ≈ºà“π∑“ßÕ‘π∑√“‡πÁμ¢ÕßÕß§å°√

πÕ°®“°π—Èπ¬—ß°”Àπ¥„Àâ°√√¡°“√∫√‘…—∑·≈–ºŸâ∫√‘À“√ (√«¡∑—Èß§Ÿà ¡√ ·≈–∫ÿμ√∑’Ë¬—ß‰¡à∫√√≈ÿπ‘μ‘¿“«–) ∑’Ë¡’Àπâ“∑’Ë

√“¬ß“π°“√∂◊Õ§√ÕßÀ≈—°∑√—æ¬å À“°¡’°“√´◊ÈÕ¢“¬Àÿâπ¢Õß∫√‘…—∑ μâÕß·®âßμàÕ ”π—°ß“π§≥–°√√¡°“√°”°—∫À≈—°∑√—æ¬å

·≈–μ≈“¥À≈—°∑√—æ¬å ·≈– àß ”‡π“„Àâ‡≈¢“πÿ°“√∫√‘…—∑ ‡æ◊ËÕ√“¬ß“πμàÕ§≥–°√√¡°“√∫√‘…—∑„π°“√ª√–™ÿ¡

§≥–°√√¡°“√∫√‘…—∑§√—ÈßμàÕ‰ª „π°“√ª√–™ÿ¡§≥–°√√¡°“√∫√‘…—∑∑ÿ°§√—Èß®–¡’«“√–°“√∂◊ÕÀ≈—°∑√—æ¬å∫√‘…—∑¢Õß

°√√¡°“√∫√‘…—∑ ·≈–ºŸâ∫√‘À“√ ´÷Ëß°√√¡°“√∫√‘…—∑ ºŸâ∫√‘À“√ √Ÿâ«à“‡ªìπÀπâ“∑’Ë∑’Ë®–μâÕßªØ‘∫—μ‘·≈–¥”‡π‘π°“√μ“¡

∑’Ë°”Àπ¥ πÕ°®“°π—ÈπÀ“°¡’°“√‡ª≈’Ë¬π·ª≈ß‡°’Ë¬«°—∫‡√◊ËÕß¥—ß°≈à“«∫√‘…—∑®–∑”®¥À¡“¬·®âß„Àâ°√√¡°“√∫√‘…—∑ ·≈–

ºŸâ∫√‘À“√∑√“∫ æ√âÕ¡·π∫ ”‡π“®¥À¡“¬·≈–ª√–°“»¢Õß§≥–°√√¡°“√°”°—∫À≈—°∑√—æ¬å·≈–μ≈“¥À≈—°∑√—æ¬å

„π‡√◊ËÕß¥—ß°≈à“«


available in the annual report delivered together with the notice of the meeting. The shareholder can use the

form of proxy attached to the notice, which is form B, to encourage shareholders to vote. The form can also

be downloaded from the companyûs website. There are 3 forms, i.e. forms A, B and C, prepared in

compliance with the notification of the Ministry of Commerce. Any one form of proxy can be chosen. The

company also provides duty stamps for shareholders appointing proxies. In 2010, the company held the

annual general shareholdersû meeting No. 8 on April 27, 2010. There were a total of 89 shareholders

attending the meeting, representing 821,810,790 shares or 86.05% of all shareholders. Three shareholders

authorized a member of the Audit Committee, who is an independent director proposed by the company as

a proxy, to vote, and this shareholder held 142,152,500 shares.

2) Right to vote at the meeting: The voting right is in accordance with the number of shares held by a

shareholder with one share having one vote. The meeting is conducted in order of the agenda items. No

agenda items are added or changed 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 votes will 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 score signboard received upon registration will be shown. The

signboard will indicate the name of the shareholder present, number of shares held or represented

and barcode. The person in charge will bring the ballot to such shareholder for signing as evidence

for transparency and examination afterwards. The company uses barcode to help in counting votes

and displays the result promptly on the screen in the conference room. All shareholders can

simultaneously know the votes for each agenda item classified as voting for, voting against

and abstention. In the annual general shareholdersû meeting No. 8, the company had invited

Ms. Supannee Luengsathid, the lawyer 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 and accountability to the public and themselves, without abuse of their

positions or functions for undue benefit for themselves and/or others. They are also required to

preserve the interest and assets of the company, without use of the companyûs information and

assets for their own and/or othersû benefit. No act may be done to support any other person to do

business in competition with the company. The company has announced the 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.

termination of 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 and

communicates through the companyûs intranet to its directors, executives and employees who are closely in

charge of internal information to trade the companyûs securities during the period of one month before

disclosure of its financial statements to the public. In addition, the companyûs directors and executives

(including their spouse and minor children) are required to report their securities holding. In case of trading of

the companyûs shares, they must notify the Office of 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 each Board of Directors meeting, there is an agenda

item on holding of the companyûs securities by directors and executives, who know that they are required to

comply with the applicable rules. In addition, if there is any change in this matter, the company will send a

letter notifying the directors and executives of the same, with copy of letter and notification of the Securities

and Exchange Commission regarding the said matter.


„π√–À«à“ßªï∑’Ëºà“π¡“ °√√¡°“√·≈–ºŸâ∫√‘À“√¢Õß∫√‘…—∑‰¥âªØ‘∫—μ‘μ“¡π‚¬∫“¬Õ¬à“ß‡§√àß§√—¥ ‰¡àª√“°Ø«à“¡’

°“√ ◊ÈÕ¢“¬Àÿâπ„π™à«ß‡«≈“∑’ËÀâ“¡

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

ª√–‚¬™πå Ÿß ÿ¥¢Õß∫√‘…—∑ ·≈–°“√°”Àπ¥√“§“‡ªìπ‰ªμ“¡‡ß◊ËÕπ‰¢°“√§â“∑’Ë‡ªìπ∏√√¡‡ ¡◊Õπ°“√∑”√“¬°“√°—∫

∫ÿ§§≈¿“¬πÕ° ¥â«¬°“√®—¥«“ß√–∫∫°“√ªØ‘∫—μ‘„π‡√◊ËÕß¥—ß°≈à“«¥â«¬§«“¡‚ª√àß„ ·≈–ªØ‘∫—μ‘μ“¡À≈—°‡°≥±å¢Õß

μ≈“¥À≈—°∑√—æ¬å·Ààßª√–‡∑»‰∑¬ ‚¥¬°”Àπ¥‡ªìππ‚¬∫“¬Àπ÷Ëß„π°“√°”°—∫¥Ÿ·≈°‘®°“√∑’Ë¥’ ·≈–°”Àπ¥‰«â„π®√‘¬∏√√¡

∑’ËμâÕßªØ‘∫—μ‘μàÕ∫√‘…—∑·≈–ºŸâ∂◊ÕÀÿâπ ¡’°“√‡ªî¥‡º¬¢âÕ¡Ÿ≈‡æ◊ËÕ„Àâ‡°‘¥§«“¡‡∑à“‡∑’¬¡°—π„π°“√√—∫∑√“∫¢âÕ¡Ÿ≈ ‡™àπ

√“¬°“√∑’Ë‡°’Ë¬«‚¬ß°—π ∫√‘…—∑‰¥âªØ‘∫—μ‘μ“¡ª√–°“»§≥–°√√¡°“√μ≈“¥À≈—°∑√—æ¬å·Ààßª√–‡∑»‰∑¬ ‡√◊ËÕß°“√‡ªî¥‡º¬

¢âÕ¡Ÿ≈·≈–°“√ªØ‘∫—μ‘°“√¢Õß∫√‘…—∑®¥∑–‡∫’¬π„π√“¬°“√∑’Ë‡°’Ë¬«‚¬ß°—π ·≈–°”Àπ¥„Àâ°√√¡°“√∫√‘…—∑∑’Ë¡’ à«π‰¥â‡ ’¬

μâÕßÕÕ°®“°ÀâÕßª√–™ÿ¡·≈–‰¡àÕÕ°‡ ’¬ß„π«“√–π—Èπ ‡æ◊ËÕ„Àâ°√√¡°“√∫√‘…—∑∑’Ë‰¡à¡’ à«π‰¥â‡ ’¬ “¡“√∂· ¥ß§«“¡

§‘¥‡ÀÁπ‰¥âÕ¬à“ß‡μÁ¡∑’Ë·≈–¡’Õ‘ √–„π°“√≈ß¡μ‘ ‚¥¬‡≈¢“πÿ°“√∫√‘…—∑®–·®âß„Àâ∑’Ëª√–™ÿ¡∑√“∫«à“„π«“√–¥—ß°≈à“«°√√¡°“√

∫√‘…—∑∑’Ë¡’ à«π‰¥â‡ ’¬¡’„§√∫â“ß∑’Ë®–μâÕßÕÕ°®“°ÀâÕßª√–™ÿ¡ ‡¡◊ËÕ‡ √Á® ‘Èπ°“√ª√–™ÿ¡‰¥â‡ªî¥‡º¬ ™◊ËÕ§«“¡ —¡æ—π∏å¢Õß∫ÿ§§≈

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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.

2.4 Conflict of interest: The company carries on business with prudence, reasonableness, taking into

account the best interest of the company. Pricing is made on the fair commercial terms as if it were

a transaction made with a third party, with the practice in the said matter with transparency and in

compliance with the rules of the Stock Exchange of Thailand. This is stipulated as one policy in

good governance and is also provided in the ethics required for treatment of the company and

shareholders. Information is disclosed to provide equal opportunity of access to information. For

example, for a connected transaction, the company has complied with the notification of the Stock

Exchange of Thailand regarding disclosure of information and practice of a listed company in a

connected transaction. The company also requires that interested directors leave the conference

room and abstain from voting on that agenda item so that the uninterested directors can fully

provide their opinion and be independent in voting. The Company secretary of Directors will notify

the meeting that for that agenda item, which directors who have an interest must leave the

conference room. Upon completion of the meeting, the name, relationship of the connected person,

pricing, value of transaction, and directors who have dissenting opinion from that of the Board of

Directors (if any) will be disclosed to the Stock Exchange of Thailand within the period required and

the same will be publicized on the companyûs website for the sake of transparency. The same will

also be recorded in the minutes of meeting for examination afterwards.

For the annual general shareholdersû meeting No. 8, the company has allowed shareholders to

propose an agenda and candidate for director election which all criteria and conditions are both in

Thai and English informing through the SET channel and the companyûs website on the subject of

investor relation Shareholders shall propose their agenda during November 16, 2009 to December

16, 2009 directly to the company secretary as well.

Chapter 3: Roles of Stakeholders

The 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

achieve prosperity and sustainable growth, appropriately generating return to shareholders and protecting the

companyûs interest and assets as if a reasonable man would do to preserve his own assets. This ensures that all

stakeholders will be treated fairly, and the same is provided in the code of conduct for executives and employees.

Shareholders

The 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 the shareholders can be confident that they will receive accurate information and appropriate return, fair

return according to the companyûs dividend policy. The inter-transactions, conflict of interest prevention

measures, prevention of use of internal information are all controlled and confidential. No directors, executives

and employees who are aware of internal information may use the companyûs internal information for their own

benefit including trading of the companyûs securities during the period of one month prior to disclosure of its

financial statements to the public. This is also stipulated in the code of conduct of employees.

In 2010, the company paid dividend from its operation of 2009 at the rate of Baht 0.17 per share,

accounting for 57.13% of its net profits of its own financial statements. The dividend was scheduled to be paid

on May 26, 2010. Dividend is paid to shareholders continuously every year, truly generating long-term wealth to

shareholders. In addition, the company reports its results of operations on a quarterly basis and discloses

transactions with connected persons on the terms as if made with a third party through the report system of

the Stock Exchange of Thailand and the companyûs website.


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„π‡«≈“∑”°“√ («—π®—π∑√å - ‡ “√å ‡«≈“ 8.00 - 17.00 π.)

∫√‘…—∑ Àæ—≤π“Õ‘π‡μÕ√å‚Œ≈¥‘Èß ®”°—¥ (¡À“™π) 03848-0444

∫√‘…—∑ À‚§‡®π (™≈∫ÿ√’) ®”°—¥ (¡À“™π) 03848-1555

πÕ°‡«≈“∑”°“√·≈–«—πÀ¬ÿ¥ 03848-1574 À√◊Õ 03848-1555 μàÕ 110

‡®â“Àπâ“∑’Ë∫√‘°“√≈Ÿ°§â“ 081-982 2184

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Customers

With our integrity, the company screens and provides beneficial and precise information. The company

continually develops and improves its product and services to serve customersû need; any complaints are

prompt responded. Activities to create good relationship and customer satisfaction are annually planned and

scheduled, for example, customer sport day, seminar on energy saving. Moreover, customers can rapidly get

information via SMS or be able to communicate with the company through other channels either in working

hour or after working hour as follows:

Working day (Monday-Saturday at 8.00 am - 5.00 pm)

Contact Center : Saha Pathana Inter-holding PCL at 03848-0444

Sahacogen (Chonburi) PCL at 03848-1555

After working hour or holiday:

Emergency Line: 03848-1574 or 03838-1555 ext. 110

Customer Services: 081-9822184

Radio Communication Center 22 (the industrial parkûs center utility) or 03838-3111

Commercial partners

The 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 and are treated equally. The company promotes good relationship and understanding with them,

exchanges knowledge, and cooperates with them in developing goods and services to add value to them. The

company does not demand, receive or agree to receive property or any other benefit beyond commercial agreement.

Creditors

The 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.

Employees

Employees are the valuable resources and key factor to make the company achievement. The company

therefore commits to develop their capabilities and skills to all employees thoroughly by training, seminar,

visiting partnersû business both locally or abroad to learn various productive systems in order to enhance their

competences for the companyûs competitiveness and success. Career path is also human resource policy to

develop the potential ones with opportunities and growth. All management plans and strategies driven by their

cooperation and competences lead the company to achieve its goal. Meanwhile, the company has arranged

productive and competitive compensation returned to each personûs potential and performance with fairness

and appropriately. (Details of this policy implementation are disclosed in the section of Personnel Development

Policy, Form 56-1)

In additional, the company realizes of working environment and taking into account on safety to life,

health and properties of employees by stipulating the policy and several committees handling on safety,

occupational health and working environment efficiently. The safety, occupational health and working

environment committee are established to closely monitor this aspect to implement efficiently. Simultaneously,

the company continually provides training on Work Safety Awareness, Basic Fire-Fighting and Evacuation

courses, including fire drill so that employees are consciously aware and understanding of appropriate practice.

Such information and knowledge concerning safety are communicated to employees through exhibition and the

companyûs intranet regularly. At the same time, all safety equipments or materials are adequately applicable

provided for employees in case of emergency.


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Not only the safety, the company also pay more attention on providing competitively welfare to employees

in order to support and promote their quality of life and well-being such as annual physical check-up, medical

expenses, uniform, health insurance, life and accidental insurance, provident fund, or low housing loans interest

rate in cooperation with the Government Housing Bank.

Competitors

The 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 society

The 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

society as a whole.

Human Rights

In respect of the law and human rights, all employees are honor and treated equally without any

discrimination, separation of race, color, religion, sex, social practices as the base criteria of human rights since

the first working day. Such information including the ethics of the company is informed to employee through an

orientation in order to clarify and avoid any violation of the human rights.

Environment

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

Therefore, data on conforming to the measures in the environmental impact analysis are regularly monitored,

followed up, and reported to the Office of Natural Resources and Environmental Policy and Planning, Ministry of

Natural Resources and the Environment, and Industrial Office at Chonburi province in every six month. Moreover,

the company closely adhere any changes on the law, rules, regulations concerned of the environment and safety in

order to revise our process in compliance with such changes. Not only environmental concerned, the company

also pays more attention on developing community sustainably. As a result, the company and its subsidiary

(Lamphun Biomass Power Plant Project) were awarded and certificated as the good corporate practicing in

accordance with the criteria of the good environmental governance on the Good Environmental Governance in the

workplace Project, held by the Department of Industrial Works, Ministry of Industry.

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 or fax 038-481551 or email [email protected] or the Secretary to the Audit Committee,

who reports directly to the Audit 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 2010,

there was no complaint from any shareholder or stakeholders.

Chapter 4: Disclosure and Transparency

The 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-financial

information, with transparency, in strict compliance with laws, rules and regulations of the Office of the Securities

and Exchange Commission, Stock Exchange of Thailand and other government agencies. The company also

follows up with amendments thereto so that shareholders, investors and the general public can be confident that

the laws, rules and regulations observed by the company are up-to-date, so that they are confident in the

companyûs business operation, which will add value for shareholders. Parties concerned can access to information


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º≈°“√¥”‡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“«

§à“μÕ∫·∑π°√√¡°“√·≈–ºŸâ∫√‘À“√

l §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§≥–°√√¡°“√∫√‘…—∑ ·≈–¢Õ

Õπÿ¡—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‡ªìπ·√ß®Ÿß„®·≈–√—°…“°√√¡°“√∑’Ë¡’§«“¡√Ÿâ§«“¡

“¡“√∂‰«â ‰¥â

„π°“√ª√–™ÿ¡ “¡—≠ºŸâ∂◊ÕÀÿâπ §√—Èß∑’Ë 8 ‡¡◊ËÕ«—π∑’Ë 27 ‡¡…“¬π 2553 ‰¥âÕπÿ¡—μ‘«ß‡ß‘π§à“μÕ∫·∑π°√√¡°“√∫√‘…—∑√«¡‰¡à‡°‘π

10 ≈â“π∫“∑μàÕªï ‚¥¬æ‘®“√≥“®“°º≈°“√¥”‡π‘πß“π¢Õß∫√‘…—∑ ·≈–∫√‘…—∑‰¥â®à“¬‡ªìπ®”π«π∑—Èß ‘Èπ 6,785,000 ≈â“π∫“∑

∑—Èßπ’È ‰¡à√«¡∂÷ß§à“μÕ∫·∑πÀ√◊Õ «— ¥‘°“√∑’Ë°√√¡°“√‰¥â√—∫„π∞“π–æπ—°ß“πÀ√◊Õ≈Ÿ°®â“ß¢Õß∫√‘…—∑

§à“‡∫’È¬ª√–™ÿ¡§≥–°√√¡°“√™ÿ¥μà“ßÊ ¥—ßπ’È

- §à“‡∫’È¬ª√–™ÿ¡§≥–°√√¡°“√∫√‘…—∑ ª√–∏“π°√√¡°“√ 20,000.- ∫“∑/§√—Èß °√√¡°“√§π≈– 10,000.- ∫“∑/§√—Èß

- §à“‡∫’È¬ª√–™ÿ¡§≥–°√√¡°“√μ√«® Õ∫ §π≈– 10,000.- ∫“∑/§√—Èß

- §à“‡∫’È¬ª√–™ÿ¡§≥–°√√¡°“√∫√‘À“√ §π≈– 10,000.- ∫“∑/§√—Èß

- §à“‡∫’È¬ª√–™ÿ¡§≥–°√√¡°“√ √√À“·≈–°”Àπ¥§à“μÕ∫·∑π §π≈– 5,000.- ∫“∑/§√—Èß


necessary to their decision-making through the channels provided by the company, e.g. annual report, Form 56-1, and

the website of the 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 companyûs investor relations, whereby the Managing Director is authorized to provide information and

news to investors and those concerned, by making contact at tel. 038-481555, fax 038-481551 or email

[email protected]. This will facilitate 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 attend

the meeting and provide their opinion, and the director having a conflict of interest will not attend the meeting and

not vote on that agenda item so that the decision of the Board of Directors and executives will be made fairly for

the benefit of shareholders. Upon conclusion being reached the company will disclose the resolution of the

meeting indicating the value of the transaction, contractual parties, reasons and needs for the transaction and other

details of such transaction 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 hired

Dharmniti Auditing Co., Ltd. as internal auditor to assess the internal control in accordance with the guideline stipulated

by the Board of Directors. The internal audit emphasizes on prevention to ensure concrete benefit of the relevant

department. It will try to find the causes and propose opinion on improvements to ensure true benefit, with approval by

the relevant department. The audit will also reveal adequate information to ensure transparency in accordance with the

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 of

performance and results of operations of the company every month. If any director changes his or her holding

of the companyûs securities, a copy of the report on securities holding submitted to the Office of the Securities

and Exchange Commission must also be delivered to the Company secretary of Directors, so that the matter

can be tabled at the next Board of Directors meeting. The Board of Directors has also provided a report on

the accountability of the Board of Directors to the financial reports, which is presented along with the auditorûs

report in the annual report, which is signed by the Chairman of the Board and the Managing Director.

Remuneration of directors and executives l Remuneration of directors

The Board of Directors has appointed the Nomination and Remuneration Committee to transparently

consider the appropriate remunerations and compensation to the directors proposed to the Board of

Directors and approved by the shareholders on the Annual General Shareholdersû Meeting on every year.

Such remunerations shall be considered on its experience, responsibilities, and competitive rates on the

market to motivate and retain such valuable directors.

The shareholders approved the remuneration to directors in a maximum of Baht 10 million per year by

consideration on its operation on the annual general shareholdersû meeting No. 8, held on April 27, 2010.

The actual total amount paid was Baht 6.785 million excluding any compensation or fringe benefit that

the director received as the employee.

The meeting allowances for each Board in 2010 were as follows:-

- Meeting allowance for the Board of Directors: Baht 20,000 per meeting for the chairman, Baht

10,000 per meeting for each director

- Meeting allowance for the Audit Committee: Baht 10,000 per meeting for each Audit Director

- Meeting allowance for the Executive Director : Baht 10,000 per meeting for each Executive Director

- Meeting allowance for Nominating and Remuneration Committee: Baht 5,000 per meeting for each

Nominating and Remuneration Director


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

μÕ∫·∑π¢Õß°√√¡°“√‡ªìπ√“¬∫ÿ§§≈‰«â„πÀ¡«¥ §à“μÕ∫·∑π°√√¡°“√·≈–ºŸâ∫√‘À“√ (·∫∫ 56-1)

l §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§≥–°√√¡°“√

l ‚§√ß √â“ß§≥–°√√¡°“√∫√‘…—∑

§≥–°√√¡°“√∫√‘…—∑ ¡’®”π«π 13 ∑à“π ª√–°Õ∫¥â«¬

°√√¡°“√∫√‘…—∑∑’Ë‡ªìπºŸâ∫√‘À“√ 5 ∑à“π

°√√¡°“√∫√‘…—∑∑’Ë‰¡à‡ªìπºŸâ∫√‘À“√ 3 ∑à“π

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

∫√‘…—∑¡’°√√¡°“√Õ‘ √– 5 ∑à“π §‘¥‡ªìπ 38.46% ¢Õß°√√¡°“√∑—Èß§≥– ‚¥¬§≥–°√√¡°“√ √√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¥

l «“√–°“√¥”√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

∫√‘…—∑‰¥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 2 §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¥

l §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√◊ÕºŸâ¡’Õ”π“®

§«∫§ÿ¡¢Õß∫√‘…—∑œ ∫√‘…—∑„À≠à ∫√‘…—∑¬àÕ¬ ∫√‘…—∑√à«¡ ∫√‘…—∑¬àÕ¬≈”¥—∫‡¥’¬«°—π 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‘ √– ∑—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


Such remunerations paid to all directors, approved from shareholders, were individually disclosed in

Section of executive remuneration (Form 56-1).

l Executive remuneration

The executive remuneration is in accordance with the companyûs principle and policy based on its results

of operations and performance of each executive.

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

The Board of Directors of the company is comprised of 13 directors:

Director & Executive Committee 5 directors

Non-Management Director 3 directors

Non-Management Director and Independent 5 directors

The company has 5 independent directors, representing 38.46% of the total number of directors. The

Nominating and Remuneration Committee will select directors from experts who have knowledge and capability

from various professions, and who have vision, are ethical, have no misconduct record, and are able to provide

opinion independently. The Board of Directors has clearly stipulated the duties and responsibilities of all

committees, with the Managing Director, in the capacity of a member of Management, being appointed by the

Board of Directors to oversee business operation and management of the companyûs affairs and its

performance to achieve the objectives and goals, in line with the policy set by the Board of Directors.

l Terms of directors and Number of companies in which a director holds offices

The company does not fix a directorûs term or the number of companies in which a director holds offices.

The company believes that the business capability and expertise of a director does not depend on his or

her age or the number of companies in which he or she holds offices but depends on his or her

competence in business management as the companyûs expectation. Moreover, a director appointed by

the shareholdersû meeting shall be shareholdersû representatives to set a company policy to maximum

high return to shareholders.

Each directorûs details concerning on his term was reported on an attachment -1 on the form 56-1 and

the annual report. The company presently had two directors who hold more than 5 offices. However, the

company is trustfully that these directors devote and duly take his responsibility for the companyûs benefit

and consistently attended a meeting.

l Qualifications of Independent Directors

The company has given the following definitions of an çindependent directoré based on the announcement

of the Capital 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 staff member, an employee or a consultant with a monthly wage. The person also

must not be or be an individual with the authority to control the company, the parent company, the

associates, the affiliates, the associates of the same level, the major shareholders or of the entities

with the authority to control the company, with the exception of the case where he or she has

retired from such a position for at least two years prior to the day on which he or she is appointed

as an independent director. The ineligibility however does not include the case where an

independent director has previously served as a public servant or a consultant of a government

agency which is a major shareholder of, or an entity with the authority to control the company.


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

§Ÿà ¡√ æ’ËπâÕß ·≈–∫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√◊ÕºŸâ¡’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√◊ÕºŸâ¡’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‘ √–

6. ‰¡à‡ªìπ À√◊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√–°“√


3. The person must not be related by blood or law as father, mother, spouse, sibling or child, spouse

of son or daughter of executives, major shareholders, individuals with the authority to control the

company or candidates for 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, the associates, the affiliates, the major shareholders or the entities with the authority to

control the company, in such a manner that may interfere with oneûs independent discretion. The

person also must have not been or has been a shareholder, individuals with the authority to control

the company, of the person who has business relationship with the company, the parent company,

the associates, the affiliates, the major shareholder or the entities with the authority to control the

company. There is an exception in the case where he or she has retired from such a 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 the conduct of business; lease or letting of immovable; transactions relating to assets or

service; provision or acceptance of financial assistance through acceptance or provision of loans and

guarantees, the use of assets as collateral and other such practices which result in the company or the

party to the agreement being under the obligation to repay the other party for an amount from 3% of

net tangible assets of the company or from Twenty Million Baht whichever is lower. The calculation of

such obligation to debt is to be in accordance with the related transaction value calculation method as

per the Announcement of the Capital Market Supervisory Board on the Related Transaction Criteria with

exceptions. The said obligation to debt includes that which has materialized during 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,

the affiliates, the major shareholders or the entities with the authority to control the company. The

person also must not be a significant shareholder, an individual with the authority to control or a

partner of the audit office with which the auditor the company, the parent company, the associates, the

affiliates, the major shareholders or the entities with the authority to control the company is associated.

There is an exception in such case where he or she has retired from such a position for at least two

years prior to the day on which he or she is appointed as an independent director.

6. The person must not be, or has been, a provider of a professional service including the service as a

legal consultant or a financial consultant for which greater than Two Million Baht of fee is paid per year

by the company, the parent company, the associates, the affiliates, the major shareholders or the

entities with the authority to control the company. The person also must not be a significant

shareholder or an individual with the authority to control or a partner of such provider of professional

service. There is an exception in such case where he or she has retired from such a position for at

least two years prior to the day on which he or she is appointed as an independent director.

7. The person must not be a director appointed to represent a director of the company, a major shareholder

or a shareholder 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 the company or an associate. The person also must not be a significant partner in a partnership;

a director who is involved with the management ; a staff member; an employee; a consultant with a

monthly wage; as well as, a shareholder who holds more than 1% of shares with voting rights of

another company which is engaged in a business 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 the operation of the company.


¿“¬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√◊ÕºŸâ¡’Õ”π“®§«∫§ÿ¡¢Õß∫√‘…—∑œ ‚¥¬¡’°“√μ—¥ ‘π„®„π√Ÿª·∫∫¢Õß

Õß§å§≥– (collective decision) ‰¥â

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

§≥–°√√¡°“√ √√À“·≈–°”Àπ¥§à“μÕ∫·∑π ®–æ‘®“√≥“ √√À“§—¥‡≈◊Õ°°√√¡°“√Õ‘ √– μ“¡À≈—°‡°≥±å·≈–§ÿ≥ ¡∫—μ‘

¢Õßμ≈“¥À≈—°∑√—æ¬å·Ààßª√–‡∑»‰∑¬ ·≈– ”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¥

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

¿“«–ºŸâπ” ·≈–«‘ —¬∑—»πå

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

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

™—¥‡®π ¡’§«“¡‡ªìπÕ‘ √–„π°“√· ¥ß§«“¡§‘¥‡ÀÁπ·≈–μ—¥ ‘π„® °”°—∫¥Ÿ·≈°‘®°“√¢Õß∫√‘…—∑„Àâ‡ªìπ‰ªμ“¡«—μ∂ÿª√– ß§å

·≈–‡ªÑ“À¡“¬∑’Ë‰¥â°”Àπ¥‰«â„Àâ‡°‘¥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

∫√‘…—∑°”Àπ¥„Àâ¡’§≥–°√√¡°“√¢Õß∫√‘…—∑‰¡àπâÕ¬°«à“ 5 §π (μ“¡ æ√∫. ¡À“™π) §ÿ≥ ¡∫—μ‘¢Õß°√√¡°“√μâÕß‡ªìπ∫ÿ§§≈

∏√√¡¥“ ·≈–

1. ∫√√≈ÿπ‘μ‘¿“«–

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

3. ‰¡à‡§¬√—∫‚∑…®”§ÿ° ‚¥¬§”æ‘æ“°…“∂÷ß∑’Ë ÿ¥„Àâ®”§ÿ°„π§«“¡º‘¥‡°’Ë¬«°—∫∑√—æ¬å∑’Ë ‰¥â °√–∑”‚¥¬∑ÿ®√‘μ‰¡à‡§¬∂Ÿ°

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

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

¥”‡π‘πß“π·≈–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“√


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 decisions on the operation of the company, the parent company, the associates, the affiliates,

the associates of the same level, the major shareholders or the entities with the authority to control

the company in the manner of a collective decision.

Rules for selecting an independent director and selection process

The Board of Directors selects independent directors in accordance with the rules, whose

qualifications stipulated by the Stock Exchange of Thailand and the Securities and Exchange

Commission, and proposes them to the shareholdersû meeting.

The Company Secretary

The company has appointed Mrs. Pannee Chantavaraluk, a qualified and experienced person to be

the company secretary in order to respond on the following matters on behalf of the Board of

Directors in compliance with the Securities and Exchange Act (No. 4) B.E. 2551 which amended

some provision of the Securities and Exchange Act 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.

l Roles, duties and responsibilities of the Board of Directors

Leadership and vision

The Board of Directors comprises persons who have diversified knowledge, capabilities and experiences

and specific expertise that benefit the company. They understand their roles, duties and responsibilities,

and have 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 maximum benefit to the company and its shareholders. They manage the

company by setting tasks, goals, strategies, action plans and annual budget to achieve goals, using good

governance practice to increase value for the company and its shareholders.

The company requires that the Board of Directors must comprise at least 5 persons (pursuant to the

Public Limited Companies Act). A director must be a natural person and

1. being of legal age;

2. not being a bankrupt, incompetent or quasi-incompetent; and

3. 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 agency due to dishonesty.

The Board of Directors monitors the performance of Management by requiring Management to report the

progress and results of operations of the company and securities holding by all directors and executives

at the Board of Directors meetings.

Combination or separation of positions

The Chairman of the Board is a director who is independent and is not a member of Management and

not the same person as the Chairman of the Executive Board, in order to separate duties, for the sake of

independence and balance. The Chairman of the Board plays the role of leader and controls the Board of

Directors meeting to ensure efficiency and effectiveness. The Chairman of the Board also encourages all

directors and executives to participate in the meeting, assists, provides advice, supervises the business


∑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√å

μ≈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“∑’Ë

μ√«®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—Èß§≥–Õπÿ°√√¡°“√∫√‘À“√®—¥°“√§«“¡‡ ’Ë¬ß ‚¥¬§≥–°√√¡°“√∫√‘À“√‰¥âπ”√–∫∫‡¢â“„™â

ß“π·≈–¡’°“√ª√—∫ª√ÿß„Àâ¡’§«“¡‡À¡“– ¡°—∫Õß§å°√Õ¬à“ß ¡Ë”‡ ¡Õ ∑—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 ”§—≠

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


operation by Management, but does not interfere with the regular tasks or business of Management. In

addition, the powers and duties of each committee and of Management are clearly defined so that they

can be examined for the sake of transparency.

Internal control and risk management

The Board of Directors places importance on internal control with respect to operation, finance, function

and supervision, with an internal audit department examining the performance of the said control

including computer system and providing advice to ensure that the stipulated guideline has been

implemented effectively. It is also independent and can fully conduct examination and balancing.

The company has hired Dharmniti Auditing Co., Ltd. to conduct internal audit in cooperation with those

responsible for internal audit of the company in order to increase the effectiveness of the audit.

The results of the audit will be discussed with the executives of the department audited and the

Managing Director to clarify facts and problems found as well as measures for prevention and

improvement, before such audit was reported in writing to the Audit Committee. The company regular

held a meeting with the Audit Committee in order to access the results of audit and its 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 proposed to the Board of Directors to have Pricewaterhouse Coopers FAS Ltd. evaluate

and improve the risk management system which was agreed and approved on November 4, 2008 and

sub-committee for the risk management was set. The risk management system was already implemented

and developed to control its management effectively by repeatedly evaluated by the Audit Committee.

The Board of Directors manages risks according to the nature, suitability and type of risks, by evaluating

internal and external factors to find measures of prevention, development, improvement and extension of

results of risk consideration and risk management to cover the entire organization so that the risks are at

the level acceptable to the organization and not to impact the operation of the company.

l 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 be reviewed by the Executive Board and sent to the Chairman of the Board for signing to confirm

their accuracy. The minutes will be proposed, for approval, as the first agenda item of the next Board

meeting. The directors can comment on 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 with supporting documents of various agenda items for convenience of reference.


„πªï 2553 §≥–°√√¡°“√∫√‘…—∑¡’°“√ª√–™ÿ¡®”π«π 5 §√—Èß °“√‡¢â“√à«¡ª√–™ÿ¡¢Õß§≥–°√√¡°“√∫√‘…—∑·μà≈–∑à“π √ÿª‰¥â¥—ßπ’È

√“¬™◊ËÕ °“√‡¢â“√à«¡ª√–™ÿ¡

“¡—≠ºŸâ∂◊ÕÀÿâπ §≥–°√√¡°“√ §≥–°√√¡°“√ §≥–°√√¡°“√ §≥–°√√¡°“√

∫√‘…—∑ μ√«® Õ∫ ∫√‘À“√ √√À“

·≈–°”Àπ¥

§à“μÕ∫·∑π

1 π“¬∫ÿ≠‡°’¬√μ‘ ‚™§«—≤π“ 1/1 5/5 - - 1/1

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3 π“¬ —πμ‘ «‘≈“ »—°¥“ππ∑å 1/1 4/5 - - -

4 π“¬∫ÿ≠ƒ∑∏‘Ï ¡À“¡πμ√’ 1/1 4/5 - - -

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

6 π“¬∑πß »√’®‘μ√å 1/1 5/5 - 5/5 -

7 π“¬Õ—μ∂°√ °≈—Ëπ§«“¡¥’ 1/1 5/5 - 5/5 -

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

9 π“¬ ÿ®√‘μ ªí®©‘¡π—π∑å 1/1 5/5 - 5/5 -

10 π“¬πææ√ æß…å‡«™ 1/1 5/5 4/4 - 1/1

11 æ≈μ”√«®‡Õ° ¡™“¬ ª√–¿— ¿—°¥’ 1/1 4/5 2/4 - -

12 π“¬Õ¡√ Õ—»«“π—π∑å 1/1 5/5 4/4 - -

13 π“¬ ÿ√ß§å Õß§å‚¶…‘μ 1/1 5/5 4/4 - -

14 π“¬π‘«—μ√ æ—≤π‡ ¡“°ÿ≈ 1/1 *1/5 *1/4 - -

* ‰¥â√—∫°“√‡≈◊Õ°μ—Èß‡ªìπ°√√¡°“√ ‡¡◊ËÕ«—π∑’Ë 28 ‡¡…“¬π 2552 ·≈–‡¢â“¥”√ßμ”·Àπàß°√√¡°“√μ√«® Õ∫ ‡¡◊ËÕ«—π∑’Ë 6 æƒ…¿“§¡ 2552

≈“ÕÕ°‡¡◊ËÕ«—π∑’Ë 27 ‡¡.¬.2553

l °“√ª√–‡¡‘πμπ‡Õß¢Õß§≥–°√√¡°“√∫√‘…—∑

§≥–°√√¡°“√∫√‘…—∑¡’π‚π∫“¬„Àâ¡’°“√ª√–‡¡‘πº≈°“√ªØ‘∫—μ‘ß“π¢Õß§≥–°√√¡°“√‚¥¬√«¡Õ¬à“ßπâÕ¬ªï≈– 1 §√—Èß ‚¥¬„πªï

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´÷Ëß§√Õ∫§≈ÿ¡‡°’Ë¬«°—∫π‚¬∫“¬§≥–°√√¡°“√ ‚§√ß √â“ß¢Õß§≥–°√√¡°“√ ·≈–·π«∑“ßªØ‘∫—μ‘¢Õß§≥–°√√¡°“√ ·≈–

§ÿ≥¿“æ°“√®—¥‡μ√’¬¡·≈–°“√¥”‡π‘π°“√ª√–™ÿ¡ ‡æ◊ËÕ‡ªìπ·π«∑“ß„π°“√ª√—∫ª√ÿß°“√¥”‡π‘πß“π ‚¥¬ √ÿª°“√ª√–‡¡‘πº≈

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Õ¬à“ß√Õ∫§Õ∫ §≥–°√√¡°“√∫√‘…—∑®÷ß‰¥â·μàßμ—Èß§≥–°√√¡°“√™ÿ¥¬àÕ¬μà“ßÊ ‡æ◊ËÕ∑”Àπâ“∑’Ë¥—ß°≈à“« ·≈–√“¬ß“πº≈μàÕ

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

·μà≈–™ÿ¥‡ªìπÕ‘ √–°—π ‡æ◊ËÕ™à«¬„π°“√°”°—∫¥Ÿ·≈°‘®°“√¢Õß∫√‘…—∑

l °“√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 (FND) ´÷Ëß®—¥‚¥¬ ¡“§¡ àß‡ √‘¡ ∂“∫—π°√√¡°“√∫√‘…—∑‰∑¬ (IOD) ·≈–À≈—° Ÿμ√¡“μ√∞“π∫—≠™’

©∫—∫„À¡à IFRS μ≈Õ¥®π°“√®—¥ —¡¡π“À≈—° Ÿμ√ —ÈπÊ Õ—π‡ªìπª√–‚¬™πå·°à°“√ªØ‘∫—μ‘Àπâ“∑’Ë¢Õß§≥–°√√¡°“√∫√‘…—∑

·≈–√«¡∂÷ßÀ≈—° Ÿμ√μà“ßÊ ∑’Ë ¡“§¡ àß‡ √‘¡ ∂“∫—π°√√¡°“√∫√‘…—∑‰∑¬ (IOD) ®–®—¥¢÷ÈπÕ’°μàÕ‰ª„πÕπ“§μ


In 2010, the Board of Directors held 5 meetings. Attending the meetings by each director may be

summarized as follows:

Name Meeting

Annual General The Board of The Audit The Executive The Nominating

Meeting of Directorsû Committeeûs Directorûs & Remuneration

Shareholders meeting meeting meeting Committeeûs

meeting

1 Mr. Boonkiet Chokwatana 1/1 5/5 - - 1/1

2 Mr. Boonsithi Chokwatana 1/1 4/5 - - -

3 Mr. Santi Vilassakdanont 1/1 4/5 - - -

4 Mr. Boonyarith Mahamontri 1/1 4/5 - - -

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

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

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

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

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

10 Mr. Nophorn Bhongsvej 1/1 5/5 4/4 - 1/1

11 Pol. Gen. Somchai Prabhasabhakdi 1/1 4/5 2/4 - -

12 Mr. Amorn Asvanunt 1/1 5/5 4/4 - -

13 Mr. Surong Ongkosit 1/1 5/5 4/4 - -

14 Mr. Niwat Patanasemakul 1/1 *1/5 *1/4 - -

* To be elected as the Director on April 28, 2009 and appointed to be the Audit Committee on May 6, 2008 and

resigned on April 27, 2010

l Self-Assessment of the Board of Directors

The Board of Directors has policy to assess the overall performance of the Board of Directors at least

once a year. In the year 2010, the Board of Directors conducted individual self-assessment on the criteria

consisting of Board policy, composition, practices and meeting, transparency in job performance and

information disclosure, business ethics. The overall average results for this evaluation corresponded to the

level of good performance.

l Committees

In 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 the Board of Directors. The present committees comprise the Executive Board the

Audit Committee and The Nomination and Remuneration Committee. The powers, duties and

responsibilities of each committee are independent of each other for the benefit of supervision of the

companyûs business.

l Training of directors and executives

The company encourages all directors and executives to improve their knowledge. The Board of Directors

places importance on attending courses beneficial to performance as directors, and the directors have

undergone Director Accreditation Program (DAP), Director Certification Program (DCP), Audit Committee

Program (ACP), and Finance for Non-Finance Director (FND) courses organized by the Institute of

Directors (IOD), IFRS standard accounting courses and short-course seminars that benefits to the

performance of the directors, including courses to be organized in the future by the IOD.


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ª√–®”ªï

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The company also prepares a directorûs manual, company VTR and power plant visit for a new director to

obtain significant information about the company, good governance policy, business ethics, code of

conduct and rules and regulations of the Stock Exchange of Thailand and Securities and Exchange

Commission. The company requires the new director to undergo 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 local and foreign organizations.

l Employee development policy

It is the policy of the company to develop employees at all levels so that they have knowledge, capability

and experience that meet the needs of the company and can develop themselves and work to the

success of the organization efficiently and steadily. The training and development policy therefore focuses

on the link and consistency between the position and function. In particular, the training must be able to

be evaluated and the development should be obvious.

After training and seminar in any course, there must be evaluation after the training. After evaluation, if it

does not pass the criteria, additional training will be provided.

l Internal audit

The Board of Directors places importance on internal control at both managerial and operating levels.

Dharmniti Auditing Co.,Ltd. is hired to conduct audit with respect to operation, finance, functioning,

computer system, utilization of the companyûs assets and to provide advice to ensure that the stipulated

guideline is observed effectively and that the internal audit is independent and can fully conduct

examination and balancing. To completely assess as plan, the company has appointed Miss Naiyachan

Chongkolvanich as the coordinate with internal auditors and all departments. The audit results will be

reported directly to the Audit Committee periodically. Therefore investors can be confident that the

company has adequate internal control that can prevent and preserve its assets from damage that may

arise from improper or unauthorized use and disposal.

l Reports of the Board of Directors

The Board of Directors is responsible for the consolidated financial statements of the company and its

subsidiaries, financial information of the company set forth in the annual report and Form 56-1. Those

financial statements are prepared in accordance with the generally accepted accounting standard in

Thailand. Appropriate accounting policy is adopted and consistently applied. Careful discretion and the

best estimates are used in preparing financial statements. Adequate significant information has been

disclosed in the notes to the financial statements.

The Board of Directors has appointed the Audit Committee, comprising directors who are not members of

Management, to be responsible for the internal audit, so as to reasonably ensure that accounting entries

are accurate, complete and adequate to maintain the companyûs assets and to find weaknesses, in order

to prevent significant irregularities. The opinion of the Audit Committee in this respect is described in the

report of the Audit Committee presented in the annual report.

The Board is of the opinion that the overall internal control of the company is satisfactory and can

reasonably create confidence in the reliability of the consolidated financial statements of the company

and its subsidiaries.


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∫√‘…—∑∑’Ë www.sahacogen.com

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ª√–™ÿ¡¥â«¬ §≥–°√√¡°“√∫√‘…—∑ª√–‡¡‘π§«“¡‡æ’¬ßæÕ¢Õß√–∫∫°“√§«∫§ÿ¡¿“¬„π¢Õß∫√‘…—∑„π√Õ∫ªï 2553 ÷ËßºŸâμ√«® Õ∫

¿“¬„π¢Õß∫√‘…—∑ §◊Õ ∫√‘…—∑ Õ∫∫—≠™’∏√√¡π‘μ‘ ®”°—¥ ‰¥âμ√«®ª√–‡¡‘π·≈â«·≈–¡’§«“¡‡ÀÁπ«à“ ∫√‘…—∑¡’°“√ªØ‘∫—μ‘„π à«π

¢Õß°“√§«∫§ÿ¡¿“¬„π∑’Ë ”§—≠ À√◊Õ°“√¥”‡π‘πß“π·≈–°“√∫√‘À“√®—¥°“√´÷Ëß¡’¡‘μ‘°“√§«∫§ÿ¡¿“¬„π∑’Ë¥’ ·≈–¡’°“√∫√‘À“√

®—¥°“√§«“¡‡ ’Ë¬ßμ“¡§«√ ÷ËßÀπà«¬ß“πÀ√◊ÕÕß§å°√¬—ß§ß “¡“√∂§«∫§ÿ¡°“√¥”‡π‘πß“πÀ√◊Õ°“√∫√‘À“√®—¥°“√§«“¡‡ ’Ë¬ß

‰¥â‡æ’¬ßæÕ∑’Ë®– “¡“√∂„Àâ§«“¡¡—Ëπ„®‰¥â«à“°“√¥”‡π‘πß“π®–∫√√≈ÿ«—μ∂ÿª√– ß§å¢ÕßÀπà«¬ß“π ·≈–/À√◊Õ‡ªÑ“À¡“¬¢Õß

Õß§å°√‰¥â

1. ¥â“πÕß§å°√·≈– ¿“æ·«¥≈âÕ¡

∫√‘…—∑¡’°“√®—¥‚§√ß √â“ßÕ”π“®Àπâ“∑’Ë¢Õß§≥–°√√¡°“√ ·≈–ºŸâ∫√‘À“√·≈–æπ—°ß“π‰«âÕ¬à“ß™—¥‡®π ¡’°“√°”Àπ¥

‡ªÑ“À¡“¬°“√¥”‡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

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« ¡’§«“¡


l Relationship with investors

The Board of Directors places importance on reporting and disclosure of the companyûs information on

finance and general matters as well as significant information affecting the price of the companyûs

securities, to ensure such informationûs accuracy, completeness, reliability and transparency. In 2010, the

company held the seminar çSaha Group Fairé by invitation the analyst and investors to participate such

seminar at Queen Sirikit Convention on July 2, 2010. Moreover, the information is publicized through the

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

Director to 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].

l Internal control

On the Board of Directors Meeting No. 1/2010 held on February 25, 2010, at which the Audit Committee

were also present, the Board of Directors evaluated the adequacy of the companyûs internal control in

2010 as evaluated by the companyûs internal auditor, Dharmniti Auditing Co.,Ltd. Dharmniti Auditing Co.,

Ltd. considered that the company 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 to present circumstances.

1. Organization and environment

The company has set up clear structure of powers and duties of the Board of Directors,

Management and employees. The business objectives and targets were defined and measurable.

Systems are established to prevent abuse of powers and duties. There are requirements on business

ethics, code of conduct for compliance by the Board of Directors, Management and employees

within the company and its subsidiaries. It is therefore believable that this can prevent abusive or

unauthorized utilization of the companyûs assets.

2. Risk management

The company manages risks according to the nature, suitability and type of risks, by evaluating

internal and external factors, in order to find measures to prevent and manage risks so that they are

at the level acceptable to the organization and not to impact the operation of the company. It is

also communicate to management team continually perform and monitor.

3. Control of performance of Management

The company designates the levels of approval powers and separate departments in a way that

promotes coordination and balancing of power. Scope of authority and amount of money within the

approval power of 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 Stock Exchange of Thailand. The Board of Directors regularly receives

reports from, and reviews performance of, Management.

4. Information technology and communication

The company secures efficient communications within and outside the organization. Accounting

entry supporting documents are kept completely and systematically, and generally accepted

accounting principle is applied. Application software are used to enhance the planning of resource

utilization and management of accounting, financial, purchase, sale, inventory and production


·¡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’¬ßæÕ

μàÕ°“√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°—πÀ√◊Õ√—∫ª√–°—π‰¥â „π√–¥—∫∑’Ë ¡‡Àμÿ ¡º≈


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 may arise from the information system.

For Board of Directors meetings and shareholdersû meetings, the company sends notice together

with adequate supporting information for decision making, within the period required by law. Minutes

of meeting with full material contents are prepared. Resolutions and opinions of directors and

shareholders are recorded in the minutes together with questions and dissenting opinions.

5. Monitoring

The 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. Examination of performance according to the internal control designated is conducted

regularly by the internal audit department, 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 an appropriate time.

From the evaluation of the 5 aspects of the companyûs internal control described above, the Board

of Directors is of the opinion that the company has appropriate and adequate internal control. The

Board also recognizes that any internal control may not guarantee that there will be no damage

from significant errors but that damage can be prevented or remedied at a reasonable level.


∏ÿ√°‘®°—∫§«“¡√—∫º‘¥™Õ∫μàÕ —ß§¡ ‡»√…∞°‘®·≈– ‘Ëß·«¥≈âÕ¡ ‡æ√“– À‚§‡®π„Àâ§«“¡„ à„®„π°“√¥Ÿ·≈ ‘Ëß·«¥≈âÕ¡·≈–§ÿ≥¿“æ™’«‘μ∑’Ë¥’¢Õß —ß§¡ §«∫§Ÿà°—∫°“√¬°°√–¥—∫§ÿ≥¿“æ —ß§¡

·≈– ‘Ëß·«¥≈âÕ¡Õ¬à“ß¬—Ëß¬◊π ®÷ß¡ÿàß¡—Ëπæ—≤π“„Àâ∑ÿ°¢—ÈπμÕπ¢Õß°√–∫«π°“√º≈‘μ‡ªìπ¡‘μ√μàÕ ‘Ëß·«¥≈âÕ¡ ¿“¬„μâÀ≈—°°“√°”°—∫

¥Ÿ·≈°‘®°“√∑’Ë¥’ ¡’®√‘¬∏√√¡ ·≈–ªØ‘∫—μ‘μ“¡°√Õ∫√–‡∫’¬∫ °ÆÀ¡“¬·≈–¢âÕ∫—ß§—∫∑’Ë‡°’Ë¬«¢âÕß¡“‚¥¬μ≈Õ¥ ¡’°“√μ√«®μ‘¥μ“¡

Õ¬à“ßμàÕ‡π◊ËÕß √«¡∂÷ß°“√‡™‘≠Àπà«¬ß“π¿“¬πÕ°∑—Èß à«πß“π√“™°“√∑’Ë‡°’Ë¬«¢âÕß ·≈–μ—«·∑π¢Õß™ÿ¡™π‚¥¬√Õ∫ ‡¢â“¡“√à«¡°“√

μ√«® Õ∫°‘®°√√¡°“√¥”‡π‘πß“π¢Õß∫√‘…—∑œ Õ¬à“ß ¡Ë”‡ ¡Õ πÕ°®“°π’È¬—ß§”π÷ß∂÷ß°“√„™â∑√—æ¬“°√„Àâ‡°‘¥ª√–‚¬™πå

Ÿß∑’Ë ÿ¥ §«∫§Ÿà°—∫°“√ √â“ß®‘μ ”π÷°·≈– àß‡ √‘¡„Àâ‡°‘¥§«“¡√à«¡¡◊Õ√à«¡„®¢Õß∑—Èßæπ—°ß“π·≈–ΩÉ“¬∫√‘À“√∑ÿ°§π„πÕß§å°√ ¥â«¬

°“√®—¥μ—Èß§≥–∑”ß“π¥â“π§«“¡√—∫º‘¥™Õ∫μàÕ —ß§¡ „π°“√ √â“ß √√§å°‘®°√√¡∑’Ë‡ªìπª√–‚¬™πå„Àâ°—∫™ÿ¡™π —ß§¡ ·≈–

‘Ëß·«¥≈âÕ¡

¥â“π ‘Ëß·«¥≈âÕ¡

„π¥â“π°“√¥Ÿ·≈√—°…“ ‘Ëß·«¥≈âÕ¡ ∫√‘…—∑œ ¡ÿàß‡πâπμ—Èß·μà°“√§«∫§ÿ¡°√–∫«π°“√º≈‘μ„Àâ ‰¥âª√– ‘∑∏‘¿“æ Ÿß ÿ¥ „Àâ ‰¥â

æ≈—ßß“π‰øøÑ“·≈–‰ÕπÈ”∑’Ë¡’§ÿ≥¿“æ·≈–‡ ∂’¬√¿“æ §«∫§ÿ¡°“√ª≈àÕ¬°ä“´‰π‚μ√‡®π„Àâ ‰¥âμË”°«à“‡°≥±å∑’Ë°”Àπ¥ ¡’°“√

μ√«® Õ∫§ÿ≥¿“æπÈ”Õ¬à“ß ¡Ë”‡ ¡Õ·≈–∫”∫—¥¢—Èπμâπ°àÕπª≈àÕ¬≈ß Ÿà√–∫∫∫”∫—¥πÈ”‡ ’¬¢Õß «πÕÿμ “À°√√¡ ¡’°“√π”√–∫∫

°“√®—¥°“√ ‘Ëß·«¥≈âÕ¡μ“¡¡“μ√∞“π “°≈ 14001 ¡“„™â„π°“√∫√‘À“√®—¥°“√ ®—¥„Àâ¡’°“√μ√«® Õ∫Õ¬à“ßμàÕ‡π◊ËÕß Õ’°∑—Èß

àß‡ √‘¡·≈–®—¥°‘®°√√¡∑’Ë¡ÿàß √â“ß ¡¥ÿ≈§◊π Ÿà∏√√¡™“μ‘ Õ“∑‘

‚§√ß°“√∏π“§“√¢¬–√’‰´‡§‘≈ – ¡∫ÿ≠ ≈¥¿—¬‚≈°√âÕπ ∑’Ë¡ÿàß‡πâπ°“√ √â“ß®‘μ ”π÷°·≈–√≥√ß§å„Àâæπ—°ß“π„πÕß§å°√√à«¡°—π

§—¥·¬°¢¬–√’‰´‡§‘≈ ‡æ◊ËÕ≈¥°“√„™â∑√—æ¬“°√∏√√¡™“μ‘Õ¬à“ß ‘Èπ‡ª≈◊Õß ·≈–¬—ß™à«¬≈¥μâπ∑ÿπ°“√°”®—¥¢Õß‡ ’¬∑—Èß∑’Ë∫â“π·≈–

∑’Ë ”π—°ß“π Õ’°∑—Èß¬—ß “¡“√∂π”¡“ √â“ß„Àâ°àÕ‡°‘¥√“¬‰¥â ‚¥¬π”√“¬‰¥â∑’Ë‰¥â¡“‰ª™à«¬‡À≈◊Õ„π°‘®°√√¡ “∏“√≥°ÿ»≈μà“ßÊ

‚§√ß°“√‡ √‘¡ √â“ß®‘μ ”π÷°√—°…å ‘Ëß·«¥≈âÕ¡ „Àâ‡°‘¥°“√æ—≤π“Õ¬à“ß¬—Ëß¬◊π ¥â«¬°“√®—¥°‘®°√√¡μà“ßÊ ¡“°¡“¬ ‚¥¬°“√

™—°™«π„Àâ‡¬“«™π·≈–™ÿ¡™π‰¥â‡¢â“¡“¡’ à«π√à«¡ „Àâ‡°‘¥§«“¡§‘¥√‘‡√‘Ë¡ √â“ß √√§åμà“ßÊ Õ“∑‘ ‚§√ß°“√ çμâπ‰¡â‡æ◊ËÕπâÕßé ¥â«¬°“√

ª≈Ÿ°μâπ‰¡â æ◊™º≈ ‡æ◊ËÕ„™â‡ªìπÕ“À“√°≈“ß«—π„Àâπ—°‡√’¬π ≥ ‚√ß‡√’¬π«—¥®ÿ°°–‡¨Õ ®.™≈∫ÿ√’ À√◊Õ‚§√ß°“√·¢àß¢—π«“¥¿“æ√–∫“¬ ’

¿“¬„μâ·π«§‘¥ ç™ÿ¡™π√Õ∫‚√ß‰øøÑ“ √Ÿâ§ÿ≥§à“æ≈—ßß“πé ´÷Ëß‡ªìπ°‘®°√√¡∑’Ë¡ÿàß‡πâπ§«“¡§‘¥ √â“ß √√§å·≈–°“√ª≈Ÿ°®‘μ ”π÷°

√—°…å ‘Ëß·«¥≈âÕ¡ ‚¥¬‰¥â√—∫§«“¡√à«¡¡◊Õ®“°°≈ÿà¡‚√ß‡√’¬π∑’ËÕ¬Ÿà√“¬√Õ∫‚√ß‰øøÑ“ ®”π«π 14 ‚√ß‡√’¬π„π‡¢μ®—ßÀ«—¥™≈∫ÿ√’ ·≈–

‚√ß‡√’¬π„πæ◊Èπ∑’Ë®—ßÀ«—¥≈”æŸπ


Business and Corporate Social Responsibilities

Sahacogen has not only significantly focused on environmental care, but also the quality of life of the society as well

as the sustainable improvement of social and environment. Therefore, the company is committed to develop all stages of

the production to be environmental friendly. All Sahacogenûs operation activities have been operated under the principles of

good corporate governance, ethics, regulatory framework, laws and regulations concerned with continually audit, including

inviting related organizations, government sectors, and representatives of surrounding communities to participate in the

observation of the operational activities of the company regularly. Furthermore, the company has realized to utilize all

resources to the maximum benefits along with creating awareness and promoting the cooperation of all employees and

executives by forming a team group to handle and create relevant activities on the Corporate Social Responsibility

beneficially to the community, society and environment.

Environment In the environmental care, Sahacogen has significantly focused and controlled its operating to be most

efficient in order to generate good quality and reliability electricity and steam to customers. The emission of

nitrogen is completely controlled to be better than the criteria. Additionally, the water quality has always been

checked and treated primarily before being released to the wastewater treatment of the industrial parks. Also, the

company has implemented the international standard system of environmental management ISO 14001 and

audited regularly to ensure that all system is certified. Besides, Sahacogen has frequently promoted and organized

environmentally activities as follows:

çThe Recycle Bank Project - Collect Merit, Reduce Global Warming Effecté the objectives of this project are

mainly to create awareness and motivate employees to clean and cool the world by efficient using the natural

resources and reduce waste from consumption by separating recycle waste. Such activities are contributed to reduce

disposal costs at both employeesû house and office, and also generated income which could be donated to various

charitable activities.

çLove Environment Projecté To campaign the environmental conservation, this project has been created by

holding various activities for children and communities to participate this campaign, for example, çTrees for Childrené

activities by growing vegetables and trees and transforming a lunch for students at Wat Chukacher, Chonburi province;

or çPainting Contesté activities under the concept of çValuable Energy by Communitiesé to create and raise awareness

of environment which was good feedback and cooperation from 14 schools nearby the power plant at Sriracha Saha

Group Industrial Park, Chonburi province, and Lamphun Saha Group Industrial Park, Lamphun province.


·≈–‡æ◊ËÕ‡ √‘¡ √â“ß ‘Ëß·«¥≈âÕ¡∑’Ë¥’ ∫√‘…—∑œ ‰¥â¡’°“√·®°®à“¬·≈– π—∫ πÿπ°≈â“‰¡â „π«—π·≈–«“√– ”§—≠μà“ßÊ √à«¡°—∫

¿“§ª√–™“™π ‡æ◊ËÕ √â“ß·≈–‡æ‘Ë¡æ◊Èπ∑’Ë ’‡¢’¬«„Àâ∫â“π¢Õß‡√“¡’Õ“°“»∑’Ë –Õ“¥¡“°¢÷Èπ Õ“∑‘

‚§√ß°“√ª≈Ÿ°‰¡â‚μ‡√Á«‡æ◊ËÕ™ÿ¡™π ¥â«¬°“√ π—∫ πÿπμâπ°≈â“·≈–‰¡â‚μ‡√Á«‡æ◊ËÕª≈Ÿ°„π∑’Ë¥‘π “∏“√≥– ”À√—∫ √â“ßæ◊Èπ∑’Ë

“∏“√≥ª√–‚¬™πå Õ“∑‘ ‚§√ß°“√π”√àÕß°“√ª≈Ÿ°‰¡â‚μ‡√Á«‡æ◊ËÕ™ÿ¡™π ≥ π“¡°’Ã“ ·≈–¨“ªπ ∂“π∫â“π°Õ‡ª“ ®—ßÀ«—¥≈”æŸπ

‚§√ß°“√ª≈Ÿ°‰¡â ‚μ‡√Á«√à«¡°—∫™ÿ¡™π∫â“πÀπÕßÀ≈ÿ¡ ∫â“π°Õ‡ª“ ‚√ß‡√’¬π«—¥πÈ”æÿ ·≈–‚√ß‡√’¬π«—¥ÀπÕß ‘« ®—ßÀ«—¥≈”æŸπ

‚§√ß°“√ª≈àÕ¬°ÿâßª≈“Õπÿ√—°…åªÉ“™“¬‡≈π ¥â«¬§«“¡√à«¡¡◊Õ√à«¡„®·≈–§«“¡ “¡—§§’®“°ºŸâª√–°Õ∫°“√„π «πÕÿμ “À°√√¡

‡§√◊Õ Àæ—≤πå-»√’√“™“ ‚√ß‡√’¬π ·≈–™ÿ¡™π „π‡¢μ‡∑»∫“≈π§√·À≈¡©∫—ß ®—ßÀ«—¥™≈∫ÿ√’ ‡æ◊ËÕ√à«¡Õπÿ√—°…åªÉ“™“¬‡≈π™ÿ¡™π

∫â“π·À≈¡©∫—ß ·≈–∂«“¬‡ªìπæ√–√“™°ÿ»≈·¥àæ√–∫“∑ ¡‡¥Á®æ√–‡®â“Õ¬ŸàÀ—« ‡π◊ËÕß„π«—πæàÕ·Ààß™“μ‘·≈–«—π ‘Ëß·«¥≈âÕ¡‰∑¬

‚§√ß°“√ª≈Ÿ°ªÉ“™ÿ¡™π∫â“πÀπÕß§≈â“„À¡à ®—ßÀ«—¥™≈∫ÿ√’ ¥â«¬°“√ π—∫ πÿπμâπ°≈â“·≈–μâπ‰¡â„π‚§√ß°“√ «πæƒ°…»“ μ√å

‡©≈‘¡æ√–‡°’¬√μ‘ ·≈–√à«¡ª≈Ÿ°μâπ‰¡â„π‚√ß‡√’¬π∫â“π«—ß§âÕ ®—ßÀ«—¥™≈∫ÿ√’ ‚§√ß°“√ª≈Ÿ°μâπ‰¡â„Àâ·¡à ¥â«¬°“√¡Õ∫°≈â“‰¡â„Àâ°—∫

™ÿ¡™π‚¥¬√Õ∫ «πÕÿμ “À°√√¡‡§√◊Õ Àæ—≤πå-°∫‘π∑√å∫ÿ√’ „πß“π«—π·¡à·Ààß™“μ‘

¥â“π°“√»÷°…“

°“√ àß‡ √‘¡Õß§å§«“¡√Ÿâ ¿Ÿ¡‘ªí≠≠“ ¢Õß‡¬“«™π„Àâ‡°‘¥»—°¬¿“æ‡æ◊ËÕæ—≤π“™ÿ¡™π„Àâ‡¢â¡·¢ÁßÕ¬à“ß¬—Ëß¬◊ππ—Èπ ∂◊Õ‡ªìπ¿“√°‘®

∑’Ë∫√‘…—∑œ „Àâ§«“¡ ”§—≠‡ªìπÕ¬à“ß¬‘Ëß ®÷ß‰¥â¡ÿàß √â“ß √√§å°‘®°√√¡μà“ßÊ ‡æ◊ËÕæ—≤π“‡¬“«™π„π∑ÿ°™à«ß«—¬„Àâ¡’§«“¡æ√âÕ¡∑—Èß„π¥â“π

§«“¡§‘¥ √â“ß √√§å μ‘ªí≠≠“ §ÿ≥∏√√¡·≈–®√‘¬∏√√¡ ¥â«¬‚§√ß°“√μà“ßÊ ¥—ßπ’È

‚§√ß°“√æ—≤π“§«“¡√Ÿâ‡æ◊ËÕ‡¬“«™π ¥â«¬°“√¡Õ∫ “√“πÿ°√¡‰∑¬ ”À√—∫‡¬“«™π ·≈–Àπ—ß ◊Õ‡ √‘¡§«“¡√Ÿâ„Àâ°—∫ÀâÕß ¡ÿ¥

‚√ß‡√’¬π ‡æ◊ËÕ„Àâπ—°‡√’¬π‰¥â¡’§«“¡√Ÿâ ·≈–‡æ‘Ë¡ ◊ËÕ„π°“√æ—≤π“¡“°¢÷Èπ

‚§√ß°“√·¢àß¢—πμÕ∫§”∂“¡ “√“πÿ°√¡‰∑¬ ”À√—∫‡¬“«™π ‡æ◊ËÕ°√–μÿâπ·≈– àß‡ √‘¡π‘ —¬√—°°“√Õà“π„Àâ°—∫‡¬“«™π ‚¥¬‰¥â

‡™‘≠π—°‡√’¬π„π‚√ß‡√’¬π∑’Ëμ—ÈßÕ¬Ÿà‚¥¬√Õ∫ ®”π«π 15 ‚√ß‡√’¬π„π‡¢μ®—ßÀ«—¥™≈∫ÿ√’ ‡¢â“√à«¡°“√·¢àß¢—π„π§√—Èßπ’È

‚§√ß°“√°‘®°√√¡ —≠®√‡æ◊ËÕ‡¬“«™π ‚¥¬¡ÿàß‡πâπ°“√ àß‡ √‘¡„Àâ‡°‘¥ ¿“æ·«¥≈âÕ¡∑’Ë¥’„π°“√‡√’¬π°“√ Õπ ¥â«¬°“√

π—∫ πÿπ¡Õ∫æ—¥≈¡μ‘¥ºπ—ß ‡æ◊ËÕμ‘¥μ—Èß„πÀâÕß‡√’¬πÕ“§“√À≈—ß„À¡à∑’Ë¢“¥·§≈π ·°à ‚√ß‡√’¬π∫â“πÀπÕßª√◊Õ ®—ßÀ«—¥™≈∫ÿ√’

°“√ √â“ß√—È«‚√ß‡√’¬π«—¥Àâ«¬¡â“‚°âß μ”∫≈ªÉ“ —° ®—ßÀ«—¥≈”æŸπ°“√¡Õ∫Õÿª°√≥å°’Ã“·°à‚√ß‡√’¬π °“√¡Õ∫∑ÿπ°“√»÷°…“„Àâ·°à

π—°‡√’¬π∑’Ë‡√’¬π¥’ ¡’§«“¡ª√–æƒμ‘¥’ ∞“π–¬“°®π √«¡∂÷ß°“√¡’ à«π√à«¡ π—∫ πÿπ„π°‘®°√√¡Õ◊ËπÊ ∑’Ë®—¥‚¥¬°Õß∑ÿπæ—≤π“™ÿ¡™π

„πæ◊Èπ∑’Ë√Õ∫‚√ß‰øøÑ“‡§√◊Õ‰∑¬ÕÕ¬≈å ·À≈¡©∫—ß‡æ“‡«Õ√å·≈– À‚§‡®π


Besides this, the company has sponsored and distributed sprouts and tree to the public sectors for

planting on special occasions or festivals to enlarge green areas as following:

çFast-growing Trees for communityé activities - the company sponsored sprout of fast growing trees to

grow on the public areas, for example: the pilot project of fast-growing trees planting at the stadium and

crematorium of Ban Ko Pao, Lamphun province; fast-growing tree planting with Ban Nong Lum, Ban Ko Pao,

Wat Nampu School, and Wat Nong Sue School, Lamphun province, Take shrimps and fish back home project,

which held with the companies in Sriracha Saha Group Industrial Park, schools and communities in Laem

Chabang Municipality, Chonburi province on, to growing mangrove forest and release various fish and shrimps

living on mangrove forest in order to restore mangrove forest conservation of Ban Laem Chabang community

and honor His Majesty the King on the auspicious occasion of National Fatherûs Day and the Thai Environment

Day. Or Green Area at Ban Nong Kla Mai project, Chonburi province, the company sponsored trees for the

Botanical Garden in honor of His Majesty the King and participating planting activity in Ban Wang Kho,

Chonburi; Planting for Mother Project by providing trees to communities around Kabinburi Saha Group

Industrial Park on the occasion of National Motherûs Day.

Education Human Development plays a vital role, particularly, the development of children and youth, who are

regarded as key factors for the future community development sustainably, are the priority responsible of

Sahacogen. The company therefore pledges to create and organize various programs for different age groups

of children to prepare them to be intelligent, competent, moral and ethical as following activities:-

Development Children through Knowledge Project: Sahacogen supported and sponsored Thai

Encyclopedia and books to many schoolsû libraries to educate students and to increase material for learning.

Thai Encyclopedia Contest Project: To motivate and encourage reading, Sahacogen invited many schools

nearby Sahacogen power plant, Chonburi province, to participate such contest which got good response from

students studying at 15 schools in Chonburi to compete this contest.

Development of Childrenûs Life Project: Good environment is significant factor in human development for a

good state of mind and emotion, Sahacogen supported fans installed to new classrooms having inadequately

facilities at Ban Nong Prue School, Chonburi province, fence building at Wat Huai Ma Kong, Pa Sak subdistrict,

Lamphun province; sponsoring sports equipments, and scholarships to students having good grade and behavior,

but shortage financial support, etc. Moreover, the company also supports other activities organized by the

Community Development Fund of the power plant of Thai Oil Group, Laem Chabang Power and Sahacogen.

76

¥â“π —ß§¡·≈–™ÿ¡™π

∫√‘…—∑œ μ√–Àπ—°¥’Õ¬Ÿà‡ ¡Õ«à“ ç√“°∞“π∑’Ë¡—Ëπ§ß¢Õß™“μ‘ ‰¥â®“°™ÿ¡™π∑’Ë¡’§ÿ≥¿“æÕ¬à“ß¬—Ëß¬◊πé ‡æ◊ËÕ‡ªìπ à«πÀπ÷Ëß„π°“√

√â“ß§«“¡¬—Ëß¬◊π„Àâ·°à™ÿ¡™π¥â«¬°“√ π—∫ πÿπ àß‡ √‘¡ ·≈–¡’ à«π√à«¡°‘®°√√¡μà“ßÊ ∑’Ë¡ÿàß àß‡ √‘¡„Àâ§π∑’ËÕ¬Ÿà√à«¡°—π¡’°“√

æ—≤π“∑—Èß„π¥â“π«—μ∂ÿ ·≈–®‘μ„®Õ—π®–∑”„Àâ°“√¥”√ß™’«‘μÕ¬Ÿà√à«¡°—ππ—Èπ¡’§«“¡‡®√‘≠√ÿàß‡√◊Õß·≈– ß∫ ÿ¢ ‡æ◊ËÕ„Àâ —ß§¡·¢Áß·√ß

·≈–æ÷Ëßæ“μπ‡Õß‰¥â ÷Ëßªï∑’Ëºà“π¡“∫√‘…—∑œ „Àâ°“√ π—∫ πÿπ àß‡ √‘¡ ·≈–¡’ à«π√à«¡°—∫™ÿ¡™π‰¡à«à“®–Õ¬Ÿà„πæ◊Èπ∑’Ë ‚¥¬√Õ∫¢Õß

∑’Ëμ—Èß‚§√ß°“√∫√‘…—∑œ (®—ßÀ«—¥™≈∫ÿ√’ ®—ßÀ«—¥≈”æŸπ À√◊Õ®—ßÀ«—¥ª√“®’π∫ÿ√’) À√◊Õ„π∑’Ëμà“ßÊ ‰¥â·°à

l ‚§√ß°“√Ωñ°Õ∫√¡°“√º≈‘μªÿÜ¬Õ‘π∑√’¬å®“°«— ¥ÿ‡À≈◊Õ„™â∑“ß°“√‡°…μ√ ‚¥¬¢¬“¬º≈®“°‚§√ß°“√Õ—π‡π◊ËÕß¡“®“°æ√–√“™¥”√‘

‡»√…∞°‘®æÕ‡æ’¬ß ÷Ëß‰¥â√à«¡°—∫ à«π°“√ª°§√ÕßÕ”‡¿Õ‡¡◊Õß≈”æŸπ·≈–¡À“«‘∑¬“≈—¬·¡à‚®â ®—ßÀ«—¥‡™’¬ß„À¡à

l π—∫ πÿπ·≈– àß‡ √‘¡°‘®°√√¡°“√‡ √‘¡ √â“ß§«“¡√Ÿâ·≈–°“√Ωñ°Õ“™’æ„Àâ°—∫™ÿ¡™π ‡æ◊ËÕ‡ √‘¡ √â“ß»—°¬¿“æ ·≈–§«“¡

‡ªìπÕ¬Ÿà∑’Ë¥’„Àâ°—∫™ÿ¡™π

l °‘®°√√¡∫”‡æÁ≠ª√–‚¬™πå√—°…“§«“¡ –Õ“¥„π™ÿ¡™π

l π—∫ πÿπ¢Õß¢«—≠¢Õß√“ß«—≈„π°‘®°√√¡μà“ßÊ ‡™àπ °‘®°√√¡ß“π«—π‡¥Á°·Ààß™“μ‘ „Àâ°—∫‚√ß‡√’¬π ™ÿ¡™π ·≈–Àπà«¬ß“π∑âÕß∂‘Ëπ

l π—∫ πÿπ·≈– àß‡ √‘¡°“√·¢àß¢—π°’Ã“ ‡æ◊ËÕ‡ √‘¡ √â“ß§«“¡ —¡æ—π∏å·≈– ÿ¢¿“æ∑’Ë¥’ ‚¥¬„™â‡«≈“«à“ß„Àâ‡°‘¥ª√–‚¬™πå ‡™àπ

°“√·¢àß¢—πøÿμ∫Õ≈ ¡«≈‰∑¬ ‡ªμÕß ‚∫«å≈‘Ëß ‡ªìπμâπ

l ®—¥°‘®°√√¡ π‘∑√√»°“√„Àâ§«“¡√Ÿâ‡√◊ËÕßæ≈—ßß“π°—∫‚√ß‰øøÑ“ À‚§‡®π

l √à«¡∫√‘®“§‚≈À‘μ ‡æ◊ËÕ™à«¬‡À≈◊Õ™’«‘μ‡æ◊ËÕπ¡πÿ…¬å °—∫ ¿“°“™“¥‰∑¬ ´÷Ëß®—¥¢÷Èπ‡ªìπª√–®”∑ÿ°ªïÕ¬à“ßμàÕ‡π◊ËÕß

77

Social and Community

The company believes that the sustainable quality of communities is the strong fundamental of

development. Sahacogen pays special attention on development of communities with great emphasis on

supporting and participating activities leading to prosperity, peace, and strong and self-sufficient society. In the

previous year, Sahacogen supported, promoted, and participated with the communities around the project sites

(Chonburi, Lumphun. Or Prachinburi) or other areas as follows:

l Fertilizer from biomass training: Sahacogen coordinated with the administrative district of Lamphun and

Mae Jo University, Chiangmai holding the training on produce organic fertilizer from biomass, which

follows His Majestyûs royal initiatives on sufficiency economy

l Supported and created activities on educating and skill trainings in various areas to communities for their

well-beings

l Participating with the communities on the cleaning day

l Sponsoring presents on various activities of schools, communities, and local organizations such as

National Childrenûs Day activities

l Sponsoring and supporting sport activities in development for good relationship, good health, mind,

emotion, and spending time valuable, such as football, Thai boxing, bowling, etc.

l Holding activities and exhibitions to educate students and people on the energy conservation with

Sahacogen power plant

l Participating in blood donation with Thai Red Cross annually


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μà“ßÊ °—∫™ÿ¡™π Õ“∑‘ ∑”∫ÿ≠∑Õ¥°∞‘π ºâ“ªÉ“ «—π‡¢â“æ√√…“ ÕÕ°æ√√…“ ß“πª√–‡æ≥’ ≈“°¿—μμå °‘®°√√¡μ“¡√Õ¬ª√–∑’ª∏√√¡

√à«¡ π—∫ πÿπ¢ÕßÀ«“π ‡§√◊ËÕß¥◊Ë¡ ·≈–‰¥â®—¥∑”Àπ—ß ◊Õ ç∏√√¡–¿“«π“... √â“ßªí≠≠“·¥à “∏ÿ™πé ¡Õ∫·°à™ÿ¡™π «—¥ ·≈–ª√–™“™π

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«—≤π∏√√¡ª√–‡æ≥’ ß°√“πμå °“√∑”¢«—≠¢â“« √¥πÈ”¥”À—«ºŸâ ŸßÕ“¬ÿ Õ—π‡ªìπ°“√¥”√ß«—≤π∏√√¡Õ—π¥’ß“¡„ÀâÕ¬Ÿà§Ÿà°—∫ª√–™“™π§π‰∑¬

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æπ—°ß“πÕ¬à“ß ¡Ë”‡ ¡Õ·≈–μàÕ‡π◊ËÕß ∑—Èßπ’È‡æ◊ËÕ‡μ√’¬¡§«“¡æ√âÕ¡·≈– “¡“√∂μÕ∫ πÕß°—∫‡Àμÿ°“√≥å©ÿ°‡©‘πμà“ßÊ ‰¥âÕ¬à“ß∑—π

∑à«ß∑’ ·≈–„Àâ‡°‘¥º≈°√–∑∫μàÕ™’«‘μ·≈–∑√—æ¬å ‘ππâÕ¬∑’Ë ÿ¥ À¡—Ëπμ√«® Õ∫·≈–ª√—∫ª√ÿß √â“ß ¿“æ·«¥≈âÕ¡°“√∑”ß“π„Àâ

ª≈Õ¥¿—¬®“°Õÿ∫—μ‘‡Àμÿ·≈–Õ—πμ√“¬„¥Ê ∑’ËÕ“®‡°‘¥¢÷Èπ‰¥â·°àæπ—°ß“π ºŸâ√—∫‡À¡“ μ≈Õ¥®πºŸâ‡¢â“¡“‡¬’Ë¬¡™¡‚√ß‰øøÑ“ πÕ°®“°π’È

∫√‘…—∑œ ¬—ß‰¥â®—¥°‘®°√√¡ π‘∑√√»°“√ ∑’Ë‡ √‘¡ √â“ß§«“¡√Ÿâ¥â“π§«“¡ª≈Õ¥¿—¬„Àâ°—∫æπ—°ß“π‡ªìπª√–®” √«¡∂÷ß°“√«“ß¡“μ√°“√

§«“¡ª≈Õ¥¿—¬„π°“√ªÑÕß°—πªí≠À“¬“‡ æμ‘¥ ‚¥¬‰¥â¡’°“√≈ßπ“¡∫—π∑÷°¢âÕμ°≈ß°—∫°Õß «— ¥‘°“√·√ßß“π °√¡ «— ¥‘°“√·≈–

§ÿâ¡§√Õß·√ßß“π ‡æ◊ËÕ “πμàÕ°“√¥”‡π‘π°“√‚§√ß°“√‚√ßß“π ’¢“«Õ¬à“ßμàÕ‡π◊ËÕß


Religion, Culture and Tradition The Company has continually given precedence to the conservation of Thai traditions by constant participating

religious ceremonies with the communities; for example, Kathin ceremony, Buddhist merits on Buddhist Lent, Ceremony of

offering food to monks by drawing lots, etc. including sponsoring food and beverage on such activities. In addition, the

company published dharma books çPraying DharmaÇCreate Intelligenceé and distrubuted to communities, temples, and

other interested people in order to conserve and bring morality to the society. Besides supporting the religious ceremonies,

the company also placed importance to maintain Thai traditional culture activities such as Songkran festival, ceremony for

encouragement of the rice (Kwan Kao Ceremony), and water-pouring ceremony to ask for blessing from a respected elder

(Rod Nam Dum Hua) to conserve the beautiful cultural heritage to be with the Thai people eternally.

Occupational Health and Safety

In addition to implementing international standard systems, occupational health and safety management

under TIS18001, and BS OHSAS 18001 to manage occupational health and safety and to comply with related

laws and regulations, the company has organized trainings for emergency evacuation and fire drill

collaboratively with government sectors to employees on regular basis. The purposes of the trainings were to

prepare for the reaction to all emergency situations and to minimize the loss of life and property. The company

has also monitored and improved working environment to be safe from any accidents or dangers which could

occur to employees, contractors, including visitors of the power plant. Moreover, the company has regularly

organized activities to enhance knowledge about safety for employees, and set the safety policy to prevent

drug problems by signing the agreement with the Welfare Division, the Department of Labor Protection and

Welfare to execute the Drugs Free Workplace project continually.

√ÿªº≈ª√–°Õ∫°“√·≈–∞“π–∑“ß°“√‡ß‘π

(Àπà«¬ : æ—π∫“∑)

º≈°“√¥”‡π‘πß“π 2553 2552 2551

¢“¬ 3,127,522 3,041,864 3,048,742

√“¬‰¥â√«¡ 3,146,449 3,046,317 3,061,126

μâπ∑ÿπ¢“¬·≈–§à“∫√‘À“√¥”‡π‘π°“√ 2,752,431 2,650,636 2,665,823

§à“„™â®à“¬∑“ß°“√‡ß‘π 124,575 113,645 121,172

°”‰√°àÕπÀ—°¿“…’ 269,442 282,036 274,131

¿“…’‡ß‘π‰¥â 17,891 17,522 13,009

°”‰√ ÿ∑∏‘ 251,551 264,515 261,122

∞“π–°“√‡ß‘π

‘π∑√—æ¬åÀ¡ÿπ‡«’¬π 724,164 663,504 667,637

‘π∑√—æ¬å∂“«√ 4,780,283 4,218,467 4,034,682

‘π∑√—æ¬å√«¡ 5,504,447 4,881,971 4,702,319

Àπ’È ‘πÀ¡ÿπ‡«’¬π 993,667 367,259 318,272

Àπ’È ‘π‰¡àÀ¡ÿπ‡«’¬π 2,428,767 2,527,200 2,517,100

∑ÿπ‡√◊ÕπÀÿâπ 955,000 955,000 955,000

à«π¢ÕßºŸâ∂◊ÕÀÿâπ 2,082,013 1,987,612 1,866,947

√“¬‰¥â√«

π∑√—æ¬å√«¡


(Unit : Baht û000)

Operational Highlights 2010 2009 2008

Sales 3,127,522 3,041,864 3,048,742

Total Revenues 3,146,449 3,046,317 3,061,126

Cost of Sales and Expenses 2,752,431 2,650,636 2,665,823

Finance Cost 124,575 113,645 121,172

Earning Before Tax 269,442 282,036 274,131

Income Tax 17,891 17,522 13,009

Net Income 251,551 264,515 261,122

Financial Highlights

Current Assets 724,164 663,504 667,637

Fixed Assets 4,780,283 4,218,467 4,034,682

Total Assets 5,504,447 4,881,971 4,702,319

Current Liabilities 993,667 367,259 318,272

Non-Current Liabilities 2,428,767 2,527,200 2,517,100

Share Capital Fully Paid 955,000 955,000 955,000

Shareholdersû Equity 2,082,013 1,987,612 1,866,947

Performance Summary and Financial Hightlights

Àπ’È ‘π√«¡

à«π¢ÕßºŸâ∂◊ÕÀÿâπ



2547 2548 2549 2550 2551 2552 2553

Õ—μ√“ à«π ¿“æ§≈àÕß

Õ—μ√“ à«π ¿“æ§≈àÕß 1.08 1.73 1.48 1.30 2.10 1.81 0.73 ‡∑à“

Õ—μ√“ à«π ¿“æ§≈àÕßÀ¡ÿπ‡√Á« 0.89 1.42 1.24 1.06 1.55 1.35 0.48 ‡∑à“

Õ—μ√“ à«π ¿“æ§≈àÕß°√–· ‡ß‘π ¥ 1.50 0.24 1.41 1.00 0.63 1.76 1.02 ‡∑à“

Õ—μ√“ à«πÀ¡ÿπ‡«’¬π≈Ÿ°Àπ’È°“√§â“ 7.41 7.37 7.79 7.57 7.55 7.28 7.87 ‡∑à“

√–¬–‡«≈“‡°Á∫Àπ’È‡©≈’Ë¬ 48.57 48.87 46.19 47.58 47.67 49.46 45.72 «—π

Õ—μ√“ à«πÀ¡ÿπ‡«’¬π‡®â“Àπ’È 16.65 16.33 10.56 7.51 10.46 14.81 16.12 ‡∑à“

√–¬–‡«≈“™”√–Àπ’È 21.63 22.04 34.08 47.91 34.42 24.31 22.34 «—π

√Õ∫‡«≈“‡ß‘π ¥ 26.95 26.83 12.11 -0.33 13.25 25.16 23.39 «—π

Õ—μ√“ à«π· ¥ß§«“¡ “¡“√∂„π°“√∑”°”‰√

Õ—μ√“°”‰√¢—Èπμâπ 22.25 19.82 20.68 20.99 17.05 17.06 18.26 %

Õ—μ√“°”‰√®“°°“√¥”‡π‘πß“π 19.40 17.00 17.90 16.81 12.97 13.01 12.60 %

Õ—μ√“°”‰√Õ◊Ëπ 0.30 0.08 0.46 0.23 0.40 0.15 0.60 %

Õ—μ√“ à«π‡ß‘π ¥μàÕ°“√∑”°”‰√ 156.05 29.40 158.36 132.97 75.20 152.53 176.59 %

Õ—μ√“°”‰√ ÿ∑∏‘ 15.07 12.99 13.03 11.08 8.53 8.68 7.99 %

Õ—μ√“º≈μÕ∫·∑πºŸâ∂◊ÕÀÿâπ 21.89 20.65 20.70 16.59 13.90 13.72 12.36 %

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 4.84 %

Õ—μ√“º≈μÕ∫·∑π®“° ‘π∑√—æ¬å∂“«√ 13.52 12.28 14.20 13.27 6.77 12.92 11.53 %

Õ—μ√“À¡ÿπ‡«’¬π¢Õß ‘π∑√—æ¬å 0.49 0.51 0.55 0.56 0.65 0.64 0.59 ‡∑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 1.64 ‡∑à“

Õ—μ√“ à«π§«“¡ “¡“√∂™”√–¥Õ°‡∫’È¬ 8.06 (2.25) 6.92 5.45 3.56 6.48 6.74 ‡∑à“

Õ—μ√“®à“¬‡ß‘πªíπº≈ 88.90 83.93 51.90 91.94 91.94 54.86 61.38 %

μ“√“ß· ¥ßÕ—μ√“ à«π∑“ß°“√‡ß‘π


2004 2005 2006 2007 2008 2009 2010

Liquidity Ratio

Current Ratio 1.08 1.73 1.48 1.30 2.10 1.81 0.73 time

Quick Ratio 0.89 1.42 1.24 1.06 1.55 1.35 0.48 time

Current Cash Flow Ratio 1.50 0.24 1.41 1.00 0.63 1.76 1.02 time

Accounts Receivable Turnover 7.41 7.37 7.79 7.57 7.55 7.28 7.87 time

Average Collection Period 48.57 48.87 46.19 47.58 47.67 49.46 45.72 days

Accounts Payable Turnover 16.65 16.33 10.56 7.51 10.46 14.81 16.12 time

Payment Period 21.63 22.04 34.08 47.91 34.42 24.31 22.34 days

Cash Cycle 26.95 26.83 12.11 -0.33 13.25 25.16 23.39 days

Profitability Ratio

Gross Profit 22.25 19.82 20.68 20.99 17.05 17.06 18.26 %

Operating Profit 19.40 17.00 17.90 16.81 12.97 13.01 12.60 %

Other Profit 0.30 0.08 0.46 0.23 0.40 0.15 0.60 %

Operating Cash Flow Turnover 156.05 29.40 158.36 132.97 75.20 152.53 176.59 %

Net profit 15.07 12.99 13.03 11.08 8.53 8.68 7.99 %

Return on Equity 21.89 20.65 20.70 16.59 13.90 13.72 12.36 %

Efficiency Ratio

Return on Total Asset 7.32 6.58 7.20 6.18 5.43 5.52 4.84 %

Return on Fixed Asset 13.52 12.28 14.20 13.27 6.77 12.92 11.53 %

Total Asset Turnover 0.49 0.51 0.55 0.56 0.65 0.64 0.59 time

Financial Policy Ratio

Debt to Equity 1.72 2.00 1.77 1.60 1.52 1.46 1.64 time

Interest Coverage 8.06 (2.25) 6.92 5.45 3.56 6.48 6.74 time

Payout Ratio 88.90 83.93 51.90 91.94 91.94 54.86 61.38 %

Financial Ratio Table


„π°“√«‘‡§√“–Àåº≈°“√¥”‡π‘πß“π·≈–∞“π–°“√‡ß‘π¢Õß∫√‘…—∑·≈–∫√‘…—∑¬àÕ¬ „™âß∫°“√‡ß‘π„π°“√«‘‡§√“–Àå‡ª√’¬∫‡∑’¬∫

°—∫ªï 2552 ‚¥¬¡’√“¬≈–‡Õ’¬¥º≈°“√¥”‡π‘πß“π¢Õß∫√‘…—∑·≈–∫√‘…—∑¬àÕ¬

1. º≈°“√¥”‡π‘πß“π

1.1 ¿“æ√«¡¢Õßº≈°“√¥”‡π‘πß“π∑’Ëºà“π¡“

„πªï 2553 ∫√‘…—∑·≈–∫√‘…—∑¬àÕ¬¡’√“¬‰¥â√«¡ 3,146 ≈â“π∫“∑ ‡æ‘Ë¡¢÷Èπ 100 ≈â“π∫“∑ À√◊Õ√âÕ¬≈– 3.29 ‡¡◊ËÕ‡∑’¬∫

°—∫ªï 2552 ¡’μâπ∑ÿπ¢“¬ §à“„™â®à“¬∫√‘À“√√«¡ 2,752 ≈â“π∫“∑ ‡æ‘Ë¡¢÷Èπ 102 ≈â“π∫“∑ ‚¥¬¡’ à«π¢Õß°“√ ”√Õß

¥âÕ¬§à“ ‘π∑√—æ¬å¢Õß∫√‘…—∑¬àÕ¬®”π«π 41 ≈â“π∫“∑ ¥Õ°‡∫’È¬®à“¬≈¥≈ß 11 ≈â“π∫“∑ ·≈–¿“…’‡ß‘π‰¥âπ‘μ‘∫ÿ§§≈

≈¥≈ß 0.4 ≈â“π∫“∑ ∑”„Àâ∫√‘…—∑¡’°”‰√ ÿ∑∏‘ ”À√—∫ªï 2553 μ“¡ß∫°“√‡ß‘π√«¡ √«¡∑—Èß ‘Èπ 251 ≈â“π∫“∑ ≈¥≈ß

13 ≈â“π∫“∑ §‘¥‡ªìπ√âÕ¬≈– 4.90

1.2 º≈°“√¥”‡π‘πß“π∑’Ëºà“π¡“¢Õß·μà≈–º≈‘μ¿—≥±å

l √“¬‰¥â®“°°“√¢“¬

√“¬‰¥â®“°°“√¢“¬√«¡ 3,127 ≈â“π∫“∑ ‡æ‘Ë¡¢÷Èπ 85 ≈â“π∫“∑ ‡¡◊ËÕ‡∑’¬∫°—∫ªï 2552 ‚¥¬¢“¬‰øøÑ“„Àâ·°à

°“√‰øøÑ“ΩÉ“¬º≈‘μ≈¥≈ß 55 ≈â“π∫“∑ μ“¡√“§“¢“¬´÷Ëß·ª√º—πμ“¡√“§“°ä“´∏√√¡™“μ‘ ·≈–Õ—μ√“·≈°‡ª≈’Ë¬π

‡∑’¬∫°—∫¥Õ≈≈“√å À√—∞Õ‡¡√‘°“ à«π√“¬‰¥â®“°°“√¢“¬‰øøÑ“Õÿμ “À°√√¡‡æ‘Ë¡¢÷Èπ 93 ≈â“π∫“∑ ®“° à«π

ª√—∫Õ—μ√“§à“‰øøÑ“ (Ft.) ·≈–ª√‘¡“≥¢“¬∑’Ë‡æ‘Ë¡¢÷Èπ ·≈–√“¬‰¥â®“°°“√¢“¬‰ÕπÈ”‡æ‘Ë¡¢÷Èπ 47 ≈â“π∫“∑

μ“¡ª√‘¡“≥°“√¢“¬

l √“¬‰¥âÕ◊Ëπ

„πªï 2553 √“¬‰¥âÕ◊Ëπ ®”π«π 19 ≈â“π∫“∑ ‡æ‘Ë¡¢÷Èπ 14 ≈â“π∫“∑ ®“°‡ß‘π™¥‡™¬ª√–°—π¿—¬

l μâπ∑ÿπ·≈–§à“„™â®à“¬

ªï 2553 °“√‡¥‘π‡§√◊ËÕß®—°√Õ¬à“ß¡’ª√– ‘∑∏‘¿“æ ∑”„Àâ§à“ªØ‘∫—μ‘°“√‡¥‘π‡§√◊ËÕß®—°√≈¥≈ß 6 ≈â“π∫“∑

·μà‡π◊ËÕß®“°¡’°“√ àß‡§√◊ËÕß àÕ¡°àÕπ§√∫°”Àπ¥‡«≈“∑”„Àâ¡’°“√μ—¥®à“¬§à“´àÕ¡®”π«π 39 ≈â“π∫“∑ ∑”„Àâ

μâπ∑ÿπ¢“¬√«¡‡æ‘Ë¡¢÷Èπ®“°ªï 2552 ®”π«π 33 ≈â“π∫“∑ À√◊Õ√âÕ¬≈– 1.30 §à“„™â®à“¬∫√‘À“√‡æ‘Ë¡¢÷Èπ 27 ≈â“π∫“∑

§‘¥‡ªìπ√âÕ¬≈– 21.08 ‡ªìπ°“√‡æ‘Ë¡¢÷Èπ¢Õß§à“‡∫’È¬ª√–°—π¿—¬·≈–§à“∑’Ëª√÷°…“¢Õß∫√‘…—∑√«¡ 14 ≈â“π∫“∑

·≈–§à“∫√‘À“√®—¥°“√‡μ√’¬¡°“√°“√‡¥‘π‡§√◊ËÕß‡™‘ßæ“≥‘™¬å¢Õß∫√‘…—∑¬àÕ¬ 13 ≈â“π∫“∑ ¡’°“√ª√–‡¡‘π·≈–

”√Õß¥âÕ¬§à“ ‘π∑√—æ¬å ‚§√ß°“√º≈‘μæ≈—ßß“π°∫‘π∑√å∫ÿ√’¢Õß ∫®. À‚§‡®π °√’π ∫“ß à«π√«¡ 41 ≈â“π∫“∑

¥Õ°‡∫’È¬®à“¬ ≈¥≈ß 11 ≈â“π∫“∑ À√◊Õ√âÕ¬≈– 9.62 ®“°ªï 2552 ‡π◊ËÕß®“°°“√∫√‘À“√°“√„™â‡ß‘π‡æ◊ËÕ°“√

≈ß∑ÿπ à«π¿“…’‡ß‘π‰¥âπ‘μ‘∫ÿ§§≈‡æ‘Ë¡¢÷Èπ 0.37 ≈â“π∫“∑ À√◊Õ√âÕ¬≈– 2.11

l °”‰√

∫√‘…—∑¡’°”‰√®“°°“√¥”‡π‘πß“π ®”π«π 394 ≈â“π∫“∑ ≈¥≈ß 1.7 ≈â“π∫“∑ À√◊Õ§‘¥‡ªìπ√âÕ¬≈– 0.42

‡¡◊ËÕ‡∑’¬∫°—∫ªï 2552 ‡π◊ËÕß®“°μâπ∑ÿπ¢“¬√«¡∑’Ë‡æ‘Ë¡¢÷Èπ

∫∑«‘‡§√“–Àå∞“π–°“√‡ß‘π·≈–º≈°“√¥”‡π‘πß“π


This analysis is based on the consolidated financial statements 2010 in comparing to one of 2009.

The details of the company and its subsidiariesû financial performance are as described in the audited financial

statement herein and the annual statement.

1. Results of the Operations

1.1 Overview of Operations in the previous year

In the year 2010, the revenues were totaling Baht 3,146 million, an increase of Baht 100 million or

3.29%. The cost of sales and administration expenses were Baht 2,752 million, which was Baht 102

million higher than the previous year as the result of subsidiariesû impairment at the amount of Baht

41 million. The interest expense was reduced by Baht 11 million. While the corporate income tax

was decreased by Baht 0.4 million. The above changes resulted in the net profit of Baht 251 million,

a decrease of Baht 13 million or 4.90% from the previous year.

1.2 Operation result of Product Units

l Revenues from Sales

The total revenues of the year were Baht 3,127 million, an increase of Baht 85 million. The

revenues from sales to EGAT were decreased by Baht 55 million as the result of the price

escalation with the higher fuel gas price and fluctuation of the exchange rate. The revenues

from selling electricity to industrials were Baht 93 million higher than the previous as resulted

from the increase of sales volume and the Ft adjustment. Moreover, the revenues from steam

sales were increased by Baht 47 million due to the higher consumption.

l Other Revenues

The other revenues were total Baht 19 million, an increase of Baht 14 million from the

insurance compensation recorded in this year.

l Cost and Expenses

As the result of effective operation management, the operating cost was decreased Baht 6

million. However, the maintenance cost was record at Baht 39 million prior its maintenance

schedule, the cost of sale was increased of Baht 33 million, or 1.30% higher than the previous

year. The administration expenses were also increased of Baht 27 million, or 21.08% as the

result of higher insurance premium and consult fee, which were totally Baht 14 million,

including the management fee for commercial operation of its subsidiary at Baht 13 million. In

addition, the impairment of assets of the Kabinburi Biomass Power Plant Project of Sahacogen

Green Co., Ltd was evaluated and recorded at the amount of Baht 14 million. The interest

expense was Baht 11 million or 9.62% lower than the previous year resulting from the loan

management. The corporate income tax was increased of Baht 0.37 million or 2.11%.

l Gross Profit

The operating profit were Baht 394 million, a decrease of Baht 1.7 million or 0.42% from the

previous year effected by the increasing of cost of sales.

Analysis of Financial Status and Operating Result


2. ∞“π–°“√‡ß‘π

l ‘π∑√—æ¬å : ≥ «—π∑’Ë 31 ∏—π«“§¡ 2553 ∫√‘…—∑¡’ ‘π∑√—æ¬å√«¡®”π«π 5,504 ≈â“π∫“∑ ‡æ‘Ë¡¢÷Èπ®”π«π 622 ≈â“π∫“∑

À√◊Õ√âÕ¬≈– 12.75 ‡ªìπ°“√‡æ‘Ë¡¢÷Èπ¢Õß ∑’Ë¥‘π Õ“§“√ Õÿª°√≥å ®“°‚√ß‰øøÑ“™’«¡«≈≈”æŸπ√–À«à“ß°“√°àÕ √â“ß

·≈–°“√ª≈Ÿ°æ◊™æ≈—ßß“π √â“ß·À≈àß‡™◊ÈÕ‡æ≈‘ß¢Õß∫√‘…—∑¬àÕ¬

l Àπ’È ‘π : ∫√‘…—∑Àπ’È ‘π√«¡ 3,422 ≈â“π∫“∑ ‡æ‘Ë¡¢÷Èπ 528 ≈â“π∫“∑ §‘¥‡ªìπ√âÕ¬≈– 18.24 ‡π◊ËÕß®“°¿“√–Àπ’È

§à“´àÕ¡·´¡‡§√◊ËÕß®—°√∑’Ë¬—ß‰¡à∂÷ß°”Àπ¥™”√– ·≈–°“√‡æ‘Ë¡¢÷Èπ¢Õß‡ß‘π°Ÿâ¬◊¡√–¬–¬“«‡æ◊ËÕ≈ß∑ÿπ„π‚§√ß°“√º≈‘μæ≈—ßß“π

®“°™’«¡«≈≈”æŸπ¢Õß∫√‘…—∑¬àÕ¬

l à«π¢ÕßºŸâ∂◊ÕÀÿâπ : ¡’ à«π¢ÕßºŸâ∂◊ÕÀÿâπ√«¡ 2,082 ≈â“π∫“∑ ‡æ‘Ë¡¢÷Èπ 94 ≈â“π∫“∑ À√◊Õ√âÕ¬≈– 4.75 ‡π◊ËÕß®“°°”‰√

®“°°“√¥”‡π‘πß“π

3. ¿“æ§≈àÕß

l °√–· ‡ß‘π ¥ : ¡’°√–· ‡ß‘π ¥®“°°‘®°√√¡¥”‡π‘πß“π√«¡ 692 ≈â“π∫“∑ ‡æ‘Ë¡¢÷Èπ 90 ≈â“π∫“∑ À√◊Õ√âÕ¬≈–

14.97 à«π°‘®°√√¡°“√≈ß∑ÿπ¡’°“√®à“¬‡ß‘π≈ß∑ÿπ„π‚§√ß°“√º≈‘μæ≈—ßß“π®“°™’«¡«≈¢Õß∫√‘…—∑¬àÕ¬ ·≈–°“√ª≈Ÿ°

æ◊™æ≈—ßß“π‡æ‘Ë¡¢÷Èπ ‚¥¬„™â‡ß‘π®“°°“√¥”‡π‘πß“π·≈–®“°‡ß‘π°Ÿâ¬◊¡√–¬–¬“« àßº≈„Àâªï 2553 ‡ß‘π ¥·≈–√“¬°“√

‡∑’¬∫‡∑à“‡ß‘π ¥≈¥≈ß 3 ≈â“π∫“∑ À√◊Õ√âÕ¬≈– 3.69 ‡¡◊ËÕ‡ª√’¬∫‡∑’¬∫°—∫ªï 2552

l Õ—μ√“ à«π ¿“æ§≈àÕß : ¡’ ‘π∑√—æ¬åÀ¡ÿπ‡«’¬π√«¡ 724 ≈â“π∫“∑ ‡æ‘Ë¡¢÷Èπ 60 ≈â“π∫“∑ À√◊Õ√âÕ¬≈– 9.14 ®“°°“√

«— ¥ÿ ”√Õß Ÿß¢÷Èπ à«πÀπ’È ‘πÀ¡ÿπ‡«’¬π Ÿß¢÷Èπ 626 ≈â“π∫“∑ §‘¥‡ªìπ√âÕ¬≈– 170.56 ®“°‡®â“Àπ’Èß“π°àÕ √â“ß

¢Õß∫√‘…—∑¬àÕ¬ ‡®â“Àπ’È§à“´àÕ¡·´¡‡§√◊ËÕß®—°√¬—ß‰¡à∂÷ß°”Àπ¥™”√– ·≈–‡ß‘π°Ÿâ¬◊¡√–¬–¬“«∑’Ë∂÷ß°”Àπ¥™”√–„π 1 ªï

∑”„ÀâÕ—μ√“ à«π ¿“æ§≈àÕß≈¥≈ß‡ªìπ 0.73 ‡∑à“„πªï 2553

4. ª√– ‘∑∏‘¿“æ„π°“√¥”‡π‘πß“π

∫√‘…—∑¡’Õ—μ√“º≈μÕ∫·∑π®“° ‘π∑√—æ¬å 4.84% μË”°«à“ªï 2552 §‘¥‡ªìπ√âÕ¬≈– 12.31 Õ—μ√“º≈μÕ∫·∑π®“° ‘π∑√—æ¬å

∂“«√ 11.53% μË”°«à“ªï 2552 §‘¥‡ªìπ√âÕ¬≈– 10.76 ·≈–Õ—μ√“À¡ÿπ¢Õß ‘π∑√—æ¬å 0.59 ‡∑à“ μË”°«à“ªï 2552 §‘¥‡ªìπ

√âÕ¬≈– 7.81 ‡π◊ËÕß®“° àß‡§√◊ËÕß®—°√´àÕ¡∫”√ÿß°àÕπ°”Àπ¥‡«≈“


2. Financial Status

l Assets : As of December 31, 2010, the total assets amounted to Baht 5,504 million, an increase of

Baht 622 million or 12.75% mainly from the addition of land, equipments during the construction of

the Lamphun Biomass Power Plant Project, and energy plantation farming to supply for the power

plant of its subsidiaries.

l Liabilities : The total liabilities amounted to Baht 3,422 million Baht, an increase of Baht 528 million

or 18.24% in comparing with mainly from the maintenance prior its schedule and the incremental of

the long term loan for the investment in Biomass Power Plant of its subsidiaries.

l Shareholdersû Equity : Shareholdersû equity totaled Baht 2,082 million, an increase of Baht 94

million or 4.75% from the increase of the net retained earnings.

3. Liquidity

l Cash Flow : The company had net cash from operating activities of Baht 692 million, Baht 90

million or 14.97% higher than the previous year. While the cash for investment in the biomass power

plant project and energy plantation farming of its subsidiaries was using fund from operation and

long term loan. As the result, the net cash flow and cash equivalents was decreased of Baht

3 million or 3.69% comparing to the previous year.

l Liquidity Ratio : The current assets were Baht 724 million, Baht 60 million or 9.14% higher than the

previous year from the additional material supply. The current liabilities were amounted Baht 626

million or 170.56% mainly from the account payable of subsidiariesû construction, accrued

maintenance expenses, and the long term loan due in a year, therefore, the liquidity ratio was

decreased of 0.73 time in 2010.

4. Effectiveness

The return on total assets and the total assets turnover were 4.84%, or 12.31% lower than the previous

year. The return on fixed assets was 11.53% or 10.76% lower than the previous year and total asset

turnover was 0.59 times or 7.81% lower than previous year which mainly from maintenance expenses

prior its schedule.


ß∫°“√‡ß‘π¢Õß∫√‘…—∑ À‚§‡®π (™≈∫ÿ√’) ®”°—¥ (¡À“™π) ‰¥â®—¥∑”¢÷Èπ¿“¬„μâπ‚¬∫“¬¢Õß§≥–°√√¡°“√∫√‘…—∑´÷Ëß°”Àπ¥

„ÀâªØ‘∫—μ‘μ“¡À≈—°°“√∫—≠™’∑’Ë√—∫√Õß∑—Ë«‰ª ·≈–∫—π∑÷°∫—≠™’¥â«¬§«“¡√–¡—¥√–«—ß ª√–°Õ∫°—∫°“√„™â¥ÿ≈¬æ‘π‘®„π°“√ª√–¡“≥

°“√®—¥∑”ß∫°“√‡ß‘π ‡æ◊ËÕ„Àâ –∑âÕπº≈°“√¥”‡π‘πß“π∑’Ë‡ªìπ®√‘ß¢Õß∫√‘…—∑

§≥–°√√¡°“√∫√‘…—∑œ μ√–Àπ—°∂÷ß§«“¡ ”§—≠„π¥â“π§ÿ≥¿“æ¢Õßß∫°“√‡ß‘π ‚¥¬„Àâ¡’°“√ Õ∫∑“π¢âÕ¡Ÿ≈∑“ß°“√‡ß‘π

·≈–®—¥„Àâ¡’°“√‡ªî¥‡º¬¢âÕ¡Ÿ≈∑’Ë ”§—≠‡æ‘Ë¡‡μ‘¡Õ¬à“ß‡æ’¬ßæÕ„πÀ¡“¬‡Àμÿª√–°Õ∫ß∫°“√‡ß‘π ¡’§”Õ∏‘∫“¬·≈–°“√«‘‡§√“–Àå

‡æ◊ËÕª√–‚¬™πå¢ÕßºŸâ∂◊ÕÀÿâπ·≈–ºŸâ≈ß∑ÿπ∑—Ë«‰ª„π°“√„™âß∫°“√‡ß‘π

„π°“√π’È §≥–°√√¡°“√∫√‘…—∑œ ‰¥â·μàßμ—Èß§≥–°√√¡°“√μ√«® Õ∫ ÷Ëßª√–°Õ∫¥â«¬°√√¡°“√Õ‘ √–·≈–°√√¡°“√∑’Ë

‰¡à‡ªìπºŸâ∫√‘À“√ ‡ªìπºŸâ¥Ÿ·≈‡°’Ë¬«°—∫§ÿ≥¿“æ¢Õß√“¬ß“π∑“ß°“√‡ß‘π‚¥¬μ√ß §«“¡‡ÀÁπ¢Õß§≥–°√√¡°“√μ√«® Õ∫‰¥âª√“°Ø

„π√“¬ß“π¢Õß§≥–°√√¡°“√μ√«® Õ∫ ´÷Ëß· ¥ß‰«â„π√“¬ß“πª√–®”ªïπ’È·≈â«

®“°‚§√ß √â“ß°“√∫√‘À“√·≈–√–∫∫°“√§«∫§ÿ¡¿“¬„π¥—ß°≈à“« μ≈Õ¥®πº≈°“√μ√«® Õ∫¢ÕßºŸâ Õ∫∫—≠™’√—∫Õπÿ≠“μ

∑”„Àâ§≥–°√√¡°“√∫√‘…—∑œ ‡™◊ËÕ‰¥â«à“ ß∫°“√‡ß‘π¢Õß∫√‘…—∑ À‚§‡®π (™≈∫ÿ√’) ®”°—¥ (¡À“™π) ≥ «—π∑’Ë 31 ∏—π«“§¡ 2553

‰¥â· ¥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®—¥°“√

√“¬ß“π§«“¡√—∫º‘¥™Õ∫ ¢Õß§≥–°√√¡°“√μàÕ√“¬ß“π∑“ß°“√‡ß‘π


The Companyûs Financial Statements have been compiled under the policies of the Board of Directors

which are in compliance with the generally accepted accounting principles, and to be conservatively recorded.

Due circumspection of estimation has also been given in the preparation of the financial statements to reflect

truthfully the companyûs performance.

Recognizing the essential of the quality of the financial statements, the Board of Directors then managed

to Provide reviewing of the financial data and sufficient information in the Notes to the Financial Statements

and the Explanation and Analysis Report for the interest of the shareowners and investors who seek access

into the financial statements.

For this respect, the Board has appointed an Audit Committee, consisting of independent members and

nonexecutive members, to directly oversee the quality of the financial statements. The Committeeûs comments

have already been shown in the Report of the Audit Committee in this annual report.

According to the above-mentioned administrative structure and internal control system as well as the

audit results of the certified public accountant, the Board is confident that the companyûs financial statements

as of December 31, 2010, have shown an essentially accurate picture of its financial status, performance and

cash flow statements according to the generally accepted accounting principles.

Mr. Boonkiet Chokwatana Mr. Viroj Theeravatvatee

Chairman Managing Director

Report on the Board of Directorsû Responsibility on Financial Statements


1. §à“μÕ∫·∑π®“°°“√ Õ∫∫—≠™’ (Audit Fee)

∫√‘…—∑·≈–∫√‘…—∑¬àÕ¬®à“¬§à“μÕ∫·∑π°“√ Õ∫∫—≠™’„Àâ·°à

l ∫√‘…—∑ ”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

l ∫√‘…—∑ ”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.- ∫“∑

§à“μÕ∫·∑π¢ÕßºŸâ Õ∫∫—≠™’


1. Audit Fee

The company and its subsidiary paid for the auditor fee as following:

l 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 2010

accounting period, a total amount of 1,140,000.- Baht

2. Non-audit Fee

The company and its subsidiary paid for other services namely inspections in compliance with the term

stipulated by the Board of Investment of Thailand detailed as following:

l 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 2010

accounting period, a total amount of 100,000.- Baht.

Auditor Fees of the Auditor


√“¬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«“§¡ 2553 ·≈– 2552 ß∫°”‰√¢“¥∑ÿπ√«¡ ß∫· ¥ß°“√‡ª≈’Ë¬π·ª≈ß

à«π¢ÕßºŸâ∂◊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«“§¡ 2553 ·≈– 2552 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: 25 °ÿ¡¿“æ—π∏å 2554

√“¬ß“π¢ÕßºŸâ Õ∫∫—≠™’√—∫Õπÿ≠“μ


Report of Independent Auditor

To the Shareholders of Sahacogen (Chonburi) Public Company Limited

I have audited the accompanying consolidated balance sheets of Sahacogen (Chonburi) Public Company

Limited and its subsidiaries as at 31 December 2010 and 2009, the related consolidated statements of income,

changes in 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 the Companyûs management as to their correctness and the completeness of the presentation.

My responsibility is to express an opinion on these financial statements based on my audits.

I conducted my audits in accordance with generally accepted auditing standards. Those standards require

that I plan and perform the audit to obtain reasonable assurance about whether the financial statements are

free of material misstatement. An audit includes examining, on a test basis, evidence supporting the amounts

and disclosures in the financial statements. An audit also includes assessing the accounting principles used

and significant estimates made by management, as well as evaluating the overall financial statement

presentation. I believe that my audits provide a reasonable basis for my opinion.

In my opinion, the financial statements referred to above present fairly, in all material respects, the

financial position of Sahacogen (Chonburi) Public Company Limited and its subsidiaries and of Sahacogen

(Chonburi) Public Company Limited as at 31 December 2010 and 2009, the results of their operations, and

cash flows for the years then ended, in accordance with generally accepted accounting principles.

Thipawan Nananuwat

Certified Public Accountant (Thailand) No. 3459

Ernst & Young Office Limited

Bangkok: 25 February 2011

Report of Independent Auditor


ß∫¥ÿ≈

(Àπà«¬: ∫“∑)

ß∫°“√‡ß‘π√«¡ ß∫°“√‡ß‘π‡©æ“–°‘®°“√

À¡“¬‡Àμÿ 2553 2552 2553 2552

‘π∑√—æ¬å

‘π∑√—æ¬åÀ¡ÿπ‡«’¬π

‡ß‘π ¥·≈–√“¬°“√‡∑’¬∫‡∑à“‡ß‘π ¥ 5 89,601,225 93,035,299 74,958,669 52,719,281

‡ß‘π≈ß∑ÿπ™—Ë«§√“« - À≈—°∑√—æ¬å‡æ◊ËÕ§â“ 238,871 234,046 238,871 234,046

≈Ÿ°Àπ’È°“√§â“ 6 282,477,492 294,256,463 282,477,492 294,256,463

≈Ÿ°Àπ’È°“√§â“ - ∫√‘…—∑∑’Ë‡°’Ë¬«¢âÕß°—π 6,7 109,179,507 108,529,333 109,179,507 108,529,333

≈Ÿ°Àπ’ÈÕ◊Ëπ - ∫√‘…—∑¬àÕ¬ 7 - - 2,796,361 635,959

‡ß‘π„Àâ°Ÿâ¬◊¡√–¬– —Èπ·°à∫√‘…—∑¬àÕ¬ 7 - - 23,000,000 -

Õ–‰À≈à·≈–«— ¥ÿ§ß‡À≈◊Õ 193,842,681 138,976,683 136,364,371 133,866,343

‘π∑√—æ¬åÀ¡ÿπ‡«’¬πÕ◊Ëπ

§à“„™â®à“¬≈à«ßÀπâ“ 10,492,235 6,291,795 10,162,995 6,091,566

¿“…’¡Ÿ≈§à“‡æ‘Ë¡√Õ√—∫§◊π 13,859,191 6,489,431 9,886,815 -

¿“…’‡ß‘π‰¥â√Õ√—∫§◊π 11,754,576 4,885,925 11,754,576 4,885,925

¿“…’‡ß‘π‰¥â∂Ÿ°À—° ≥ ∑’Ë®à“¬ 3,571,239 1,464,172 3,223,535 1,182,985

√“¬‰¥â§â“ß√—∫ 8,000,000 8,300,000 8,000,000 8,300,000

Õ◊ËπÊ 1,147,070 1,040,892 697,006 -

√«¡ ‘π∑√—æ¬åÀ¡ÿπ‡«’¬πÕ◊Ëπ 48,824,311 28,472,215 43,724,927 20,460,476

√«¡ ‘π∑√—æ¬åÀ¡ÿπ‡«’¬π 724,164,087 663,504,039 672,740,198 610,701,901

‘π∑√—æ¬å‰¡àÀ¡ÿπ‡«’¬π

‡ß‘π≈ß∑ÿπ„π∫√‘…—∑¬àÕ¬ 8 - - 1,188,749,900 692,499,900

‡ß‘π≈ß∑ÿπ√–¬–¬“«Õ◊Ëπ - À≈—°∑√—æ¬å‡º◊ËÕ¢“¬ 8,200,000 8,000,000 8,200,000 8,000,000

∑’Ë¥‘π Õ“§“√·≈–Õÿª°√≥å - ÿ∑∏‘ 9 4,700,776,481 4,164,764,834 3,639,278,373 3,580,542,930

μâπ∑ÿπ°“√ª≈Ÿ°æ◊™æ≈—ßß“π 10 71,015,467 45,455,252 - -

‘π∑√—æ¬å‰¡àÀ¡ÿπ‡«’¬πÕ◊Ëπ 290,779 246,951 285,779 241,951

√«¡ ‘π∑√—æ¬å‰¡àÀ¡ÿπ‡«’¬π 4,780,282,727 4,218,467,037 4,836,514,052 4,281,284,781

√«¡ ‘π∑√—æ¬å 5,504,446,814 4,881,971,076 5,509,254,250 4,891,986,682

À¡“¬‡Àμÿª√–°Õ∫ß∫°“√‡ß‘π‡ªìπ à«πÀπ÷Ëß¢Õßß∫°“√‡ß‘ππ’È

∫√‘…—∑ À‚§‡®π (™≈∫ÿ√’) ®”°—¥ (¡À“™π) ·≈–∫√‘…—∑¬àÕ¬

≥ «—π∑’Ë 31 ∏—π«“§¡ 2553 ·≈– 2552


(Unit: Baht)

Consolidated financial Separate financial

statements statements

Note 2010 2009 2010 2009

Assets

Current assets

Cash and cash equivalents 5 89,601,225 93,035,299 74,958,669 52,719,281

Current investments - securities held for trading 238,871 234,046 238,871 234,046

Trade accounts receivable 6 282,477,492 294,256,463 282,477,492 294,256,463

Trade accounts receivable - related company 6,7 109,179,507 108,529,333 109,179,507 108,529,333

Other receivable - subsidiaries 7 - - 2,796,361 635,959

Short-term loans to subsidiary 7 - - 23,000,000 -

Spare parts and supplies 193,842,681 138,976,683 136,364,371 133,866,343

Other current assets

Prepaid expenses 10,492,235 6,291,795 10,162,995 6,091,566

Value added tax refundable 13,859,191 6,489,431 9,886,815 -

Income tax refundable 11,754,576 4,885,925 11,754,576 4,885,925

Income tax deducted at source 3,571,239 1,464,172 3,223,535 1,182,985

Accrued income 8,000,000 8,300,000 8,000,000 8,300,000

Others 1,147,070 1,040,892 697,006 -

Total other current assets 48,824,311 28,472,215 43,724,927 20,460,476

Total current assets 724,164,087 663,504,039 672,740,198 610,701,901

Non-current assets

Investments in subsidiaries 8 - - 1,188,749,900 692,499,900

Other long-term investments - available-for-sale securities 8,200,000 8,000,000 8,200,000 8,000,000

Property, plant and equipment - net 9 4,700,776,481 4,164,764,834 3,639,278,373 3,580,542,930

Project cost of energy plant farming 10 71,015,467 45,455,252 - -

Other non-current assets 290,779 246,951 285,779 241,951

Total non-current assets 4,780,282,727 4,218,467,037 4,836,514,052 4,281,284,781

Total assets 5,504,446,814 4,881,971,076 5,509,254,250 4,891,986,682

Balance sheets Sahacogen (Chonburi) Public Company Limited and its subsidiaries

As at 31 December 2010 and 2009

The accompanying notes are an integral part of the financial statements.


ß∫¥ÿ≈ (μàÕ) ∫√‘…—∑ À‚§‡®π (™≈∫ÿ√’) ®”°—¥ (¡À“™π) ·≈–∫√‘…—∑¬àÕ¬

≥ «—π∑’Ë 31 ∏—π«“§¡ 2553 ·≈– 2552

(Àπà«¬: ∫“∑)

ß∫°“√‡ß‘π√«¡ ß∫°“√‡ß‘π‡©æ“–°‘®°“√

À¡“¬‡Àμÿ 2553 2552 2553 2552

Àπ’È ‘π·≈– à«π¢ÕßºŸâ∂◊ÕÀÿâπ

Àπ’È ‘πÀ¡ÿπ‡«’¬π

‡®â“Àπ’È°“√§â“ 160,225,882 157,004,512 160,225,882 157,004,512

‡®â“Àπ’È°‘®°“√∑’Ë‡°’Ë¬«¢âÕß°—π 7 56,583,874 52,606,415 56,211,251 52,786,854

‡®â“Àπ’Èß“π°àÕ √â“ß·≈–‡ß‘πª√–°—πº≈ß“π 62,803,593 49,383,105 - -

à«π¢Õß‡ß‘π°Ÿâ¬◊¡√–¬–¬“«∑’Ë∂÷ß°”Àπ¥™”√–¿“¬„πÀπ÷Ëßªï 11 538,333,333 80,000,000 530,000,000 80,000,000

Àπ’È ‘πÀ¡ÿπ‡«’¬πÕ◊Ëπ

§à“„™â®à“¬§â“ß®à“¬ 11,618,077 7,645,857 9,506,671 6,371,159

¿“…’¡Ÿ≈§à“‡æ‘Ë¡∑’Ë¬—ß‰¡à∂÷ß°”Àπ¥™”√– 8,766,393 9,509,087 8,766,393 9,391,815

¿“…’¡Ÿ≈§à“‡æ‘Ë¡√Õπ” àß - 5,807,116 - 5,807,116

‡®â“Àπ’È§à“ à«πª√—∫ª√ÿß‚√ß‰øøÑ“ 143,067,732 - 143,067,732 -

‡®â“Àπ’ÈÕ◊Ëπ 5,713,903 3,362,802 1,984,555 2,798,743

Õ◊ËπÊ 6,554,341 1,940,127 4,709,157 977,612

√«¡Àπ’È ‘πÀ¡ÿπ‡«’¬πÕ◊Ëπ 175,720,446 28,264,989 168,034,508 25,346,445

√«¡Àπ’È ‘πÀ¡ÿπ‡«’¬π 993,667,128 367,259,021 914,471,641 315,137,811

Àπ’È ‘π‰¡àÀ¡ÿπ‡«’¬π

‡ß‘π°Ÿâ¬◊¡√–¬–¬“« - ÿ∑∏‘®“° à«π∑’Ë∂÷ß°”Àπ¥™”√–

¿“¬„πÀπ÷Ëßªï 11 2,428,766,667 2,527,100,000 2,387,100,000 2,527,100,000

√«¡Àπ’È ‘π‰¡àÀ¡ÿπ‡«’¬π 2,428,766,667 2,527,100,000 2,387,100,000 2,527,100,000

√«¡Àπ’È ‘π 3,422,433,795 2,894,359,021 3,301,571,641 2,842,237,811

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 285,447,000 285,447,000 285,447,000 285,447,000

º≈¢“¥∑ÿπ∑’Ë¬—ß‰¡à‡°‘¥¢÷Èπ®√‘ß

à«πμË”°«à“∑ÿπ®“°°“√‡ª≈’Ë¬π·ª≈ß¡Ÿ≈§à“‡ß‘π≈ß∑ÿπ (400,000) (600,000) (400,000) (600,000)

°”‰√ – ¡

®—¥ √√·≈â« - ”√Õßμ“¡°ÆÀ¡“¬ 12 95,500,000 95,500,000 95,500,000 95,500,000

¬—ß‰¡à‰¥â®—¥ √√ 741,895,503 651,878,292 872,135,609 714,401,871

à«π¢ÕßºŸâ∂◊ÕÀÿâπ¢Õß∫√‘…—∑œ 2,077,442,503 1,987,225,292 2,207,682,609 2,049,748,871

à«π¢ÕßºŸâ∂◊ÕÀÿâπ à«ππâÕ¬¢Õß∫√‘…—∑¬àÕ¬ 4,570,516 386,763 - -

√«¡ à«π¢ÕßºŸâ∂◊ÕÀÿâπ 2,082,013,019 1,987,612,055 2,207,682,609 2,049,748,871

√«¡Àπ’È ‘π·≈– à«π¢ÕßºŸâ∂◊ÕÀÿâπ 5,504,446,814 4,881,971,076 5,509,254,250 4,891,986,682

- - - -



(Unit: Baht)



Note 2010 2009 2010 2009

Liabilities and shareholdersû equity

Current liabilities

Trade accounts payable 160,225,882 157,004,512 160,225,882 157,004,512

Amount due to related parties 7 56,583,874 52,606,415 56,211,251 52,786,854

Construction and retention payables 62,803,593 49,383,105 - -

Current portion of long-term loans 11 538,333,333 80,000,000 530,000,000 80,000,000

Other current liabilities

Accrued expenses 11,618,077 7,645,857 9,506,671 6,371,159

Undue value added tax 8,766,393 9,509,087 8,766,393 9,391,815

Value added tax payable - 5,807,116 - 5,807,116

Amount due to power plant improvement 143,067,732 - 143,067,732 -

Other accounts payable 5,713,903 3,362,802 1,984,555 2,798,743

Others 6,554,341 1,940,127 4,709,157 977,612

Total other current liabilities 175,720,446 28,264,989 168,034,508 25,346,445

Total current liabilities 993,667,128 367,259,021 914,471,641 315,137,811

Non-current liabilities

Long-term loans - net of current portion 11 2,428,766,667 2,527,100,000 2,387,100,000 2,527,100,000

Total non-current liabilities 2,428,766,667 2,527,100,000 2,387,100,000 2,527,100,000

Total liabilities 3,422,433,795 2,894,359,021 3,301,571,641 2,842,237,811

Shareholdersû equity

Share capital

Registered, issued and fully paid

955,000,000 ordinary shares of Baht 1 each 955,000,000 955,000,000 955,000,000 955,000,000

Share premium 285,447,000 285,447,000 285,447,000 285,447,000

Unrealised loss

Revaluation deficit on changes in value of investments (400,000) (600,000) (400,000) (600,000)

Retained earnings

Appropriated - statutory reserve 12 95,500,000 95,500,000 95,500,000 95,500,000

Unappropriated 741,895,503 651,878,292 872,135,609 714,401,871

Equity attributable to the companyûs shareholders 2,077,442,503 1,987,225,292 2,207,682,609 2,049,748,871

Minority interest - equity attributable

to minority shareholders of subsidiary 4,570,516 386,763 - -

Total shareholdersû equity 2,082,013,019 1,987,612,055 2,207,682,609 2,049,748,871

Total liabilities and shareholdersû equity 5,504,446,814 4,881,971,076 5,509,254,250 4,891,986,682

- - - -

Balance sheets (continued) Sahacogen (Chonburi) Public Company Limited and its subsidiaries

As at 31 December 2010 and 2009



(Àπà«¬: ∫“∑)

ß∫°“√‡ß‘π√«¡ ß∫°“√‡ß‘π‡©æ“–°‘®°“√

À¡“¬‡Àμÿ 2553 2552 2553 2552

√“¬‰¥â

√“¬‰¥â®“°°“√¢“¬ 3,127,521,733 3,041,864,211 3,127,521,733 3,041,864,211

√“¬‰¥âÕ◊Ëπ

¥Õ°‡∫’È¬√—∫ 713,355 683,211 632,978 1,499,059

Õ◊ËπÊ 18,213,533 3,770,074 16,524,529 1,766,438

√«¡√“¬‰¥â 3,146,448,621 3,046,317,496 3,144,679,240 3,045,129,708

§à“„™â®à“¬

μâπ∑ÿπ¢“¬ 2,556,309,228 2,523,010,972 2,556,309,228 2,523,010,972

§à“„™â®à“¬„π°“√∫√‘À“√ 128,210,000 103,578,955 100,959,517 84,476,692

§à“μÕ∫·∑πºŸâ∫√‘À“√ 26,321,516 24,046,217 24,894,166 22,264,737

¢“¥∑ÿπ®“°°“√¥âÕ¬§à“¢Õß ‘π∑√—æ¬å 9 41,590,406 - - -

√«¡§à“„™â®à“¬ 2,752,431,150 2,650,636,144 2,682,162,911 2,629,752,401

°”‰√°àÕπ§à“„™â®à“¬∑“ß°“√‡ß‘π·≈–¿“…’‡ß‘π‰¥âπ‘μ‘∫ÿ§§≈ 394,017,471 395,681,352 462,516,329 415,377,307

§à“„™â®à“¬∑“ß°“√‡ß‘π (124,575,088) (113,644,973) (124,541,172) (113,707,850)

°”‰√°àÕπ¿“…’‡ß‘π‰¥âπ‘μ‘∫ÿ§§≈ 269,442,383 282,036,379 337,975,157 301,669,457

¿“…’‡ß‘π‰¥âπ‘μ‘∫ÿ§§≈ 14 (17,891,419) (17,521,746) (17,891,419) (17,521,746)

°”‰√ ÿ∑∏‘ ”À√—∫ªï 251,550,964 264,514,633 320,083,738 284,147,711

°“√·∫àßªíπ°”‰√ ÿ∑∏‘

à«π∑’Ë‡ªìπ¢ÕßºŸâ∂◊ÕÀÿâπ∫√‘…—∑„À≠à 252,367,211 265,355,548 320,083,738 284,147,711

à«π∑’Ë‡ªìπ¢ÕßºŸâ∂◊ÕÀÿâπ à«ππâÕ¬¢Õß∫√‘…—∑¬àÕ¬ (816,247) (840,915)

251,550,964 264,514,633

°”‰√μàÕÀÿâπ¢—Èπæ◊Èπ∞“π 16

°”‰√ ÿ∑∏‘ à«π∑’Ë‡ªìπ¢ÕßºŸâ∂◊ÕÀÿâπ∫√‘…—∑„À≠à 0.26 0.28 0.34 0.30

ß∫°”‰√¢“¥∑ÿπ ∫√‘…—∑ À‚§‡®π (™≈∫ÿ√’) ®”°—¥ (¡À“™π) ·≈–∫√‘…—∑¬àÕ¬

”À√—∫ªï ‘Èπ ÿ¥«—π∑’Ë 31 ∏—π«“§¡ 2553 ·≈– 2552



(Unit: Baht)



Note 2010 2009 2010 2009

Revenues

Sales 3,127,521,733 3,041,864,211 3,127,521,733 3,041,864,211

Other income

Interest income 713,355 683,211 632,978 1,499,059

Others 18,213,533 3,770,074 16,524,529 1,766,438

Total revenues 3,146,448,621 3,046,317,496 3,144,679,240 3,045,129,708

Expenses

Cost of sales 2,556,309,228 2,523,010,972 2,556,309,228 2,523,010,972

Administrative expenses 128,210,000 103,578,955 100,959,517 84,476,692

Management benefit expenses 26,321,516 24,046,217 24,894,166 22,264,737

Allowance for impairment loss on assets 9 41,590,406 - - -

Total expenses 2,752,431,150 2,650,636,144 2,682,162,911 2,629,752,401

Income before finance cost and corporate income tax 394,017,471 395,681,352 462,516,329 415,377,307

Finance cost (124,575,088) (113,644,973) (124,541,172) (113,707,850)

Income before corporate income tax 269,442,383 282,036,379 337,975,157 301,669,457

Corporate income tax 14 (17,891,419) (17,521,746) (17,891,419) (17,521,746)

Net income for the year 251,550,964 264,514,633 320,083,738 284,147,711

Net income attributable to:

Equity holders of the parent 252,367,211 265,355,548 320,083,738 284,147,711

Minority interests of the subsidiary (816,247) (840,915)

251,550,964 264,514,633

Basic earnings per share 16

Net income attributable to equity holders of the parent 0.26 0.28 0.34 0.30

Sahacogen (Chonburi) Public Company Limited and its subsidiaries

For the years ended 31 December 2010 and 2009


Income statements


(Àπà«¬: ∫“∑)

ß∫°“√‡ß‘π√«¡ ß∫°“√‡ß‘π‡©æ“–°‘®°“√

2553 2552 2553 2552

°√–· ‡ß‘π ¥®“° („™â‰ª„π) °‘®°√√¡¥”‡π‘πß“π

°”‰√ ÿ∑∏‘°àÕπ¿“…’‡ß‘π‰¥âπ‘μ‘∫ÿ§§≈ 269,442,383 282,036,379 337,975,157 301,669,457

√“¬°“√ª√—∫°√–∑∫¬Õ¥°”‰√ ÿ∑∏‘°àÕπ¿“…’‡ªìπ‡ß‘π ¥√—∫ (®à“¬)

®“°°‘®°√√¡¥”‡π‘πß“π

(°”‰√) ¢“¥∑ÿπ®“°°“√®”Àπà“¬Õÿª°√≥å 998,210 (539) 998,210 (539)

§à“μ—¥®”Àπà“¬Õÿª°√≥å 39,577,107 - 39,577,107 -

§à“‡º◊ËÕ°“√¥âÕ¬§à“¢Õß ‘π∑√—æ¬å 41,590,406 - - -

§à“‡ ◊ËÕ¡√“§“ 259,381,970 263,347,454 252,156,586 257,057,527

(°”‰√) ¢“¥∑ÿπ∑’Ë¬—ß‰¡à‡°‘¥¢÷Èπ®“°°“√‡ª≈’Ë¬π·ª≈ß¡Ÿ≈§à“¢ÕßÀ≈—°∑√—æ¬å (4,825) 1,000,000 (4,825) 1,000,000

§à“„™â®à“¬¥Õ°‡∫’È¬ 124,575,088 113,644,973 124,541,172 113,707,850

°”‰√®“°°“√¥”‡π‘πß“π°àÕπ°“√‡ª≈’Ë¬π·ª≈ß„π ‘π∑√—æ¬å

·≈–Àπ’È ‘π¥”‡π‘πß“π 735,560,339 660,028,267 755,243,407 673,434,295

‘π∑√—æ¬å¥”‡π‘πß“π (‡æ‘Ë¡¢÷Èπ) ≈¥≈ß

≈Ÿ°Àπ’È°“√§â“ 11,778,971 51,359,785 11,778,971 51,359,785

≈Ÿ°Àπ’È°“√§â“ - ∫√‘…—∑∑’Ë‡°’Ë¬«¢âÕß°—π (650,174) (21,066,976) (650,174) (21,066,976)

≈Ÿ°Àπ’ÈÕ◊Ëπ - ∫√‘…—∑¬àÕ¬ - - (2,160,402) (635,959)

Õ–‰À≈à·≈–«— ¥ÿ§ß‡À≈◊Õ (54,865,998) (1,354,239) (2,498,028) (2,892,316)

‘π∑√—æ¬åÀ¡ÿπ‡«’¬πÕ◊Ëπ (11,376,239) 8,468,736 (14,355,250) 14,957,814

‘π∑√—æ¬å‰¡àÀ¡ÿπ‡«’¬πÕ◊Ëπ (43,828) (5,601) (43,828) (601)

Àπ’È ‘π¥”‡π‘πß“π‡æ‘Ë¡¢÷Èπ (≈¥≈ß)

‡®â“Àπ’È°“√§â“ 3,221,370 (26,681,667) 3,221,370 (26,681,667)

‡®â“Àπ’È°‘®°“√∑’Ë‡°’Ë¬«¢âÕß°—π 3,977,459 17,651,507 3,424,397 13,957,770

‡®â“Àπ’Èß“π°àÕ √â“ß·≈–‡ß‘πª√–°—πº≈ß“π 13,420,488 45,439,222 - -

Àπ’È ‘πÀ¡ÿπ‡«’¬πÕ◊Ëπ 147,455,457 2,578,074 142,688,063 2,615,108

‡ß‘π ¥®“°°‘®°√√¡¥”‡π‘πß“π 848,477,845 736,417,108 896,648,526 705,047,253

®à“¬¥Õ°‡∫’È¬ (125,799,746) (113,644,973) (124,541,172) (113,707,850)

®à“¬¿“…’‡ß‘π‰¥âπ‘μ‘∫ÿ§§≈ (26,867,276) (19,225,397) (26,800,620) (18,952,250)

‡ß‘π ¥ ÿ∑∏‘®“°°‘®°√√¡¥”‡π‘πß“π 695,810,823 603,546,738 745,306,734 572,387,153

ß∫°√–· ‡ß‘π ¥ ∫√‘…—∑ À‚§‡®π (™≈∫ÿ√’) ®”°—¥ (¡À“™π) ·≈–∫√‘…—∑¬àÕ¬

”À√—∫ªï ‘Èπ ÿ¥«—π∑’Ë 31 ∏—π«“§¡ 2553 ·≈– 2552



Cash flow statements Sahacogen (Chonburi) Public Company Limited and its subsidiaries


(Unit: Baht)



2010 2009 2010 2009

Cash flows from (used in) operating activities

Net income before corporate income tax 269,442,383 282,036,379 337,975,157 301,669,457

Adjustment to reconcile net income before tax to

net cash provided by (paid from) operating activities

(Gain) loss on disposal of equipment 998,210 (539) 998,210 (539)

Written-off equipment 39,577,107 - 39,577,107 -

Allowance for impairment loss on assets 41,590,406 - - -

Depreciation 259,381,970 263,347,454 252,156,586 257,057,527

Unrealised (gain) loss on change in value of securities (4,825) 1,000,000 (4,825) 1,000,000

Interest expenses 124,575,088 113,644,973 124,541,172 113,707,850

Income from operating activities before changes in

operating assets and liabilities 735,560,339 660,028,267 755,243,407 673,434,295

Operating assets (increase) decrease

Trade accounts receivable 11,778,971 51,359,785 11,778,971 51,359,785

Trade accounts receivable - related company (650,174) (21,066,976) (650,174) (21,066,976)

Other receivable - subsidiary - - (2,160,402) (635,959)

Spare parts and supplies (54,865,998) (1,354,239) (2,498,028) (2,892,316)

Other current assets (11,376,239) 8,468,736 (14,355,250) 14,957,814

Other non-current assets (43,828) (5,601) (43,828) (601)

Operating liabilities increase (decrease)

Trade accounts payable 3,221,370 (26,681,667) 3,221,370 (26,681,667)

Amount due to related parties 3,977,459 17,651,507 3,424,397 13,957,770

Construction and retention payables 13,420,488 45,439,222 - -

Other current liabilities 147,455,457 2,578,074 142,688,063 2,615,108

Cash flows from operating activities 848,477,845 736,417,108 896,648,526 705,047,253

Cash paid for interest expenses (125,799,746) (113,644,973) (124,541,172) (113,707,850)

Cash paid for corporate income tax (26,867,276) (19,225,397) (26,800,620) (18,952,250)

Net cash flows from operating activities 695,810,823 603,546,738 745,306,734 572,387,153



(Àπà«¬: ∫“∑)

ß∫°“√‡ß‘π√«¡ ß∫°“√‡ß‘π‡©æ“–°‘®°“√

2553 2552 2553 2552

°√–· ‡ß‘π ¥®“° („™â‰ª„π) °‘®°√√¡≈ß∑ÿπ

≈ß∑ÿπ„πμâπ∑ÿπ°“√ª≈Ÿ°æ◊™æ≈—ßß“π (25,560,215) (19,007,401) - -

‡ß‘π„Àâ°Ÿâ¬◊¡√–¬– —Èπ·≈–¥Õ°‡∫’È¬§â“ß√—∫®“°∫√‘…—∑¬àÕ¬ (‡æ‘Ë¡¢÷Èπ) ≈¥≈ß - - (23,000,000) 23,923,428

≈ß∑ÿπ„π∫√‘…—∑¬àÕ¬ - - (496,250,000) (438,750,000)

‡ß‘π ¥√—∫®“°°“√®”Àπà“¬Õÿª°√≥å 676,790 13,072 676,790 13,072

´◊ÈÕ∑’Ë¥‘π Õ“§“√·≈–Õÿª°√≥å (877,011,472) (420,132,130) (352,144,136) (25,788,823)

‡ß‘π ¥ ÿ∑∏‘„™â‰ª„π°‘®°√√¡≈ß∑ÿπ (901,894,897) (439,126,459) (870,717,346) (440,602,323)

°√–· ‡ß‘π ¥®“° („™â‰ª„π) °‘®°√√¡®—¥À“‡ß‘π

‡ß‘π ¥√—∫®“°‡ß‘π°Ÿâ¬◊¡√–¬–¬“« 440,000,000 90,000,000 390,000,000 90,000,000

®à“¬§◊π‡ß‘π°Ÿâ¬◊¡√–¬–¬“« (80,000,000) (70,000,000) (80,000,000) (70,000,000)

‡ß‘πªíπº≈®à“¬ (162,350,000) (143,250,000) (162,350,000) (143,250,000)

√—∫‡ß‘π≈ß∑ÿπ„πÀÿâπ®“°ºŸâ∂◊ÕÀÿâπ à«ππâÕ¬¢Õß∫√‘…—∑¬àÕ¬ 5,000,000 - - -

‡ß‘π ¥ ÿ∑∏‘®“° („™â‰ª„π) °‘®°√√¡®—¥À“‡ß‘π 202,650,000 (123,250,000) 147,650,000 (123,250,000)

‡ß‘π ¥·≈–√“¬°“√‡∑’¬∫‡∑à“‡ß‘π ¥‡æ‘Ë¡¢÷Èπ (≈¥≈ß) ÿ∑∏‘ (3,434,074) 41,170,279 22,239,388 8,534,830

‡ß‘π ¥·≈–√“¬°“√‡∑’¬∫‡∑à“‡ß‘π ¥μâπªï 93,035,299 51,865,020 52,719,281 44,184,451

‡ß‘π ¥·≈–√“¬°“√‡∑’¬∫‡∑à“‡ß‘π ¥ª≈“¬ªï 89,601,225 93,035,299 74,958,669 52,719,281

- - - -

ß∫°√–· ‡ß‘π ¥ (μàÕ) ∫√‘…—∑ À‚§‡®π (™≈∫ÿ√’) ®”°—¥ (¡À“™π) ·≈–∫√‘…—∑¬àÕ¬

”À√—∫ªï ‘Èπ ÿ¥«—π∑’Ë 31 ∏—π«“§¡ 2553 ·≈– 2552



(Unit: Baht)



2010 2009 2010 2009

Cash flows from (used in) investing activities

Investment in project cost of energy plant farming (25,560,215) (19,007,401) - -

(Increase) decrease in short-term loans to and

interest receivable from subsidiary - - (23,000,000) 23,923,428

Investments in subsidiaries - - (496,250,000) (438,750,000)

Cash received from disposal of equipment 676,790 13,072 676,790 13,072

Acquisition of property, plant and equipment (877,011,472) (420,132,130) (352,144,136) (25,788,823)

Net cash flows used in investing activities (901,894,897) (439,126,459) (870,717,346) (440,602,323)

Cash flows from (used in) financing activities

Cash received from long-term loans 440,000,000 90,000,000 390,000,000 90,000,000

Repayment of long-term loans (80,000,000) (70,000,000) (80,000,000) (70,000,000)

Dividend paid (162,350,000) (143,250,000) (162,350,000) (143,250,000)

Receipt of share capital from minority shareholders of subsidiary 5,000,000 - - -

Net cash flows from (used in) financing activities 202,650,000 (123,250,000) 147,650,000 (123,250,000)

Net increase (decrease) in cash and cash equivalents (3,434,074) 41,170,279 22,239,388 8,534,830

Cash and cash equivalents at beginning of year 93,035,299 51,865,020 52,719,281 44,184,451

Cash and cash equivalents at end of year 89,601,225 93,035,299 74,958,669 52,719,281

- - - -


Cash flow statements (continued) Sahacogen (Chonburi) Public Company Limited and its subsidiaries



(Àπà«¬: ∫“∑)

ß∫°“√‡ß‘π√«¡

à«π¢ÕßºŸâ∂◊ÕÀÿâπ∫√‘…—∑„À≠

∑ÿπ‡√◊ÕπÀÿâπ º≈¢“¥∑ÿπ √«¡ à«π¢ÕßºŸâ∂◊ÕÀÿâπ

∑’ËÕÕ°·≈– à«π‡°‘π ∑’Ë¬—ß °”‰√ – ¡ à«π¢ÕßºŸâ∂◊ÕÀÿâπ à«ππâÕ¬¢Õß

™”√–·≈â« ¡Ÿ≈§à“Àÿâπ ‰¡à‡°‘¥¢÷Èπ®√‘ß ®—¥ √√·≈â« ¬—ß‰¡à‰¥â®—¥ √√ ∫√‘…—∑„À≠à ∫√‘…—∑¬àÕ¬ √«¡

¬Õ¥§ß‡À≈◊Õ

≥ «—π∑’Ë 31 ∏—π«“§¡ 2551 955,000,000 285,447,000 - 95,500,000 529,772,744 1,865,719,744 1,227,678 1,866,947,422

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¢ÕßºŸâ∂◊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

º≈°”‰√®“°°“√‡ª≈’Ë¬π·ª≈ß - - 200,000 - - 200,000 - 200,000

¡Ÿ≈§à“‡ß‘π≈ß∑ÿπ„πÀ≈—°∑√—æ¬å

‡º◊ËÕ¢“¬∑’Ë√—∫√Ÿâ„π à«π¢ÕßºŸâ∂◊ÕÀÿâπ

à«π¢ÕßºŸâ∂◊ÕÀÿâπ à«ππâÕ¬¢Õß - - - - - - 5,000,000 5,000,000

∫√‘…—∑¬àÕ¬

°”‰√ ÿ∑∏‘ ”À√—∫ªï - - - - 252,367,211 252,367,211 (816,247) 251,550,964

‡ß‘πªíπº≈®à“¬ (À¡“¬‡Àμÿ 19) - - - - (162,350,000) (162,350,000) - (162,350,000)

¬Õ¥§ß‡À≈◊Õ

≥ «—π∑’Ë 31 ∏—π«“§¡ 2553 955,000,000 285,447,000 (400,000) 95,500,000 741,895,503 2,077,442,503 4,570,516 2,082,013,019

∫√‘…—∑ À‚§‡®π (™≈∫ÿ√’) ®”°—¥ (¡À“™π) ·≈–∫√‘…—∑¬àÕ¬

”À√—∫ªï ‘Èπ ÿ¥«—π∑’Ë 31 ∏—π«“§¡ 2553 ·≈– 2552

ß∫· ¥ß°“√‡ª≈’Ë¬π·ª≈ß à«π¢ÕßºŸâ∂◊ÕÀÿâπ




(Unit: Baht)

Consolidated financial statements

Equity attributable to the parentûs shareholders

Total equity Minority interest -

Retained earnings attributable equity attributable

Issued and to the to minority

paid-up Share Unrealised parentûs shareholders

share capital premium loss Appropriated Unappropriated shareholders of subsidiary Total

Balance as at

31 December 2008 955,000,000 285,447,000 - 95,500,000 529,772,744 1,865,719,744 1,227,678 1,866,947,422

Loss from changes in - - (600,000) - - (600,000) - (600,000)

value 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

Gain from changes - - 200,000 - - 200,000 - 200,000

in value of investments

in available-for-sale

securities recognised

in shareholdersû equity

Minority interest - equity - - - - - - 5,000,000 5,000,000

attributable to minority

shareholders of subsidiary

Net income for the year - - - - 252,367,211 252,367,211 (816,247) 251,550,964

Dividend paid (Note 19) - - - - (162,350,000) (162,350,000) - (162,350,000)

Balance as at

31 December 2010 955,000,000 285,447,000 (400,000) 95,500,000 741,895,503 2,077,442,503 4,570,516 2,082,013,019



Statements of changes in shareholdersû equity


(Àπà«¬: ∫“∑)

ß∫°“√‡ß‘π‡©æ“–°‘®°“√

∑ÿπ‡√◊ÕπÀÿâπ∑’ËÕÕ° º≈¢“¥∑ÿπ °”‰√ – ¡

·≈–™”√–·≈â« à«π‡°‘π¡Ÿ≈§à“Àÿâπ ∑’Ë¬—ß‰¡à‡°‘¥¢÷Èπ®√‘ß ®—¥ √√·≈â« ¬—ß‰¡à‰¥â®—¥ √√ √«¡

¬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

º≈°”‰√®“°°“√‡ª≈’Ë¬π·ª≈ß¡Ÿ≈§à“‡ß‘π≈ß∑ÿπ

„πÀ≈—°∑√—æ¬å‡º◊ËÕ¢“¬∑’Ë√—∫√Ÿâ„π à«π¢ÕßºŸâ∂◊ÕÀÿâπ - - 200,000 - - 200,000

°”‰√ ÿ∑∏‘ ”À√—∫ªï - - - - 320,083,738 320,083,738

‡ß‘πªíπº≈®à“¬ (À¡“¬‡Àμÿ 19) - - - - (162,350,000) (162,350,000)

¬Õ¥§ß‡À≈◊Õ ≥ «—π∑’Ë 31 ∏—π«“§¡ 2553 955,000,000 285,447,000 (400,000) 95,500,000 872,135,609 2,207,682,609

∫√‘…—∑ À‚§‡®π (™≈∫ÿ√’) ®”°—¥ (¡À“™π) ·≈–∫√‘…—∑¬àÕ¬

”À√—∫ªï ‘Èπ ÿ¥«—π∑’Ë 31 ∏—π«“§¡ 2553 ·≈– 2552

ß∫· ¥ß°“√‡ª≈’Ë¬π·ª≈ß à«π¢ÕßºŸâ∂◊ÕÀÿâπ (μàÕ)




(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 2008 955,000,000 285,447,000 - 95,500,000 573,504,160 1,909,451,160

Loss from changes in value of

investments in available-for-sale

securities recognised in shareholders' equity - - (600,000) - - (600,000)

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

Gain from changes in value of

investments in available-for-sale

securities recognised in shareholders' equity - - 200,000 - - 200,000

Net income for the year - - - - 320,083,738 320,083,738

Dividend paid (Note 19) - - - - (162,350,000) (162,350,000)

Balance as at 31 December 2010 955,000,000 285,447,000 (400,000) 95,500,000 872,135,609 2,207,682,609



Statements of changes in shareholdersû equity (continued)


1. ¢âÕ¡Ÿ≈∑—Ë«‰ª

∫√‘…—∑ À‚§‡®π (™≈∫ÿ√’) ®”°—¥ (¡À“™π) (ç∫√‘…—∑œé) ‡ªìπ∫√‘…—∑¡À“™π´÷Ëß®—¥μ—Èß·≈–¡’¿Ÿ¡‘≈”‡π“„πª√–‡∑»‰∑¬ ∏ÿ√°‘®

À≈—°¢Õß∫√‘…—∑œ§◊Õ°“√º≈‘μ·≈–®”Àπà“¬æ≈—ßß“π‰øøÑ“·≈–‰ÕπÈ”‡æ◊ËÕÕÿμ “À°√√¡ ∑’ËÕ¬Ÿàμ“¡∑’Ë®¥∑–‡∫’¬π¢Õß∫√‘…—∑œÕ¬Ÿà∑’Ë

‡≈¢∑’Ë 636 À¡Ÿà 11 ∂ππ ÿ¢“¿‘∫“≈ 8 μ”∫≈ÀπÕß¢“¡ Õ”‡¿Õ»√’√“™“ ®—ßÀ«—¥™≈∫ÿ√’

2. ‡°≥±å„π°“√®—¥∑”ß∫°“√‡ß‘π

2.1 ß∫°“√‡ß‘ππ’È®—¥∑”¢÷Èπμ“¡¡“μ√∞“π°“√∫—≠™’∑’Ë°”Àπ¥„πæ√–√“™∫—≠≠—μ‘«‘™“™’æ∫—≠™’ æ.». 2547 ‚¥¬· ¥ß

√“¬°“√„πß∫°“√‡ß‘πμ“¡¢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©∫—∫¿“…“‰∑¬π’È

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«“§¡

2553 2552 2553 2552 2553 2552

√âÕ¬≈– √âÕ¬≈– √âÕ¬≈– √âÕ¬≈– √âÕ¬≈– √âÕ¬≈–

∫√‘…—∑ À‚§‡®π °√’π ®”°—¥ º≈‘μ·≈–®”Àπà“¬æ≈—ßß“π‰øøÑ“ ‰∑¬ 100.00 100.00 21.60 13.96 0.06 0.11

·≈–‰ÕπÈ”‡æ◊ËÕÕÿμ “À°√√¡

(¬—ß‰¡à‰¥â‡√‘Ë¡ª√–°Õ∫°‘®°“√)

∫√‘…—∑ À°√’π øÕ‡√ ∑å ®”°—¥ º≈‘μ·≈–®”Àπà“¬æ≈—ßß“π‰øøÑ“ ‰∑¬ 75.00 75.00 0.39 0.04 - -

·≈–‰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‚¥¬„™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 (™≈∫ÿ√’) ®”°—¥ (¡À“™π) ·≈–∫√‘…—∑¬àÕ¬

”À√—∫ªï ‘Èπ ÿ¥«—π∑’Ë 31 ∏—π«“§¡ 2553 ·≈– 2552

À¡“¬‡Àμÿª√–°Õ∫ß∫°“√‡ß‘π√«¡


1. General information Sahacogen (Chonburi) Public Company Limited (çthe Companyé) is a public company incorporated and

domiciled in Thailand. The Company is principally engaged in the production and distribution of electricity

and steam and its registered address is at 636 Moo 11, Sukaphiban 8 Road, Nongkarm, Sriracha,

Chonburi.

2. Basis of preparation 2.1 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 the stipulations of the Notification of the Department of Business Development

dated 30 January 2009, issued under 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 in the accounting policies.

2.2 Basis of consolidation

a) 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 a

Assets as a percentage

percentage to the consolidated

to the consolidated total revenues

Nature of Country of Percentage of total assets as at for the year

Companyûs name business incorporation shareholding 31 December ended 31 December

2010 2009 2010 2009 2010 2009

Percent Percent Percent Percent Percent Percent

Sahacogen Green Production and distribution of Thailand 100.00 100.00 21.60 13.96 0.06 0.11

Company Limited electricity and steam

(not commencing its operations)

Sahagreen Forest Production and distribution of Thailand 75.00 75.00 0.39 0.04 - -

Company Limited electricity and steam

(not commencing its operations)

b) Subsidiaries are fully consolidated as from the date of acquisition, being the date on which the

Company obtains control, and continue to be consolidated until the date when such control

ceases.

c) The financial statements of the subsidiaries are prepared using the same significant accounting

policies as the Company.

d) Material balances and transactions between the Company and its subsidiaries have been

eliminated from the consolidated financial statements.



Notes to consolidated financial statements


®) 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 “∏“√≥– ‚¥¬· ¥ß‡ß‘π≈ß∑ÿπ„π∫√‘…—∑¬àÕ¬μ“¡«‘∏’

√“§“∑ÿπ

3. °“√ª√–°“»„™â¡“μ√∞“π°“√∫—≠™’„À¡à

„π√–À«à“ßªïªí®®ÿ∫—π ¿“«‘™“™’æ∫—≠™’ ‰¥âÕÕ°¡“μ√∞“π°“√∫—≠™’©∫—∫ª√—∫ª√ÿß·≈–¡“μ√∞“π°“√∫—≠™’ „À¡àμ“¡

√“¬≈–‡Õ’¬¥¢â“ß≈à“ßπ’È

°) ¡“μ√∞“π°“√∫—≠™’∑’Ë¡’º≈∫—ß§—∫„™â ”À√—∫√Õ∫√–¬–‡«≈“∫—≠™’∑’Ë‡√‘Ë¡„πÀ√◊ÕÀ≈—ß«—π∑’Ë 1 ¡°√“§¡ 2554 (‡«âπ·μà

·¡à∫∑°“√∫—≠™’´÷Ëß¡’º≈∫—ß§—∫„™â∑—π∑’)

·¡à∫∑°“√∫—≠™’ (ª√—∫ª√ÿß 2552)

¡“μ√∞“π°“√∫—≠™’©∫—∫∑’Ë 1 (ª√—∫ª√ÿß 2552) °“√π”‡ πÕß∫°“√‡ß‘π

¡“μ√∞“π°“√∫—≠™’©∫—∫∑’Ë 2 (ª√—∫ª√ÿß 2552) ‘π§â“§ß‡À≈◊Õ

¡“μ√∞“π°“√∫—≠™’©∫—∫∑’Ë 7 (ª√—∫ª√ÿß 2552) ß∫°√–· ‡ß‘π ¥

¡“μ√∞“π°“√∫—≠™’©∫—∫∑’Ë 8 (ª√—∫ª√ÿß 2552) π‚¬∫“¬°“√∫—≠™’ °“√‡ª≈’Ë¬π·ª≈ßª√–¡“≥°“√

∑“ß∫—≠™’ ·≈–¢âÕº‘¥æ≈“¥

¡“μ√∞“π°“√∫—≠™’©∫—∫∑’Ë 10 (ª√—∫ª√ÿß 2552) ‡Àμÿ°“√≥å¿“¬À≈—ß√Õ∫√–¬–‡«≈“√“¬ß“π

¡“μ√∞“π°“√∫—≠™’©∫—∫∑’Ë 11 (ª√—∫ª√ÿß 2552) —≠≠“°àÕ √â“ß

¡“μ√∞“π°“√∫—≠™’©∫—∫∑’Ë 16 (ª√—∫ª√ÿß 2552) ∑’Ë¥‘π Õ“§“√ ·≈–Õÿª°√≥å

¡“μ√∞“π°“√∫—≠™’©∫—∫∑’Ë 17 (ª√—∫ª√ÿß 2552) —≠≠“‡™à“

¡“μ√∞“π°“√∫—≠™’©∫—∫∑’Ë 18 (ª√—∫ª√ÿß 2552) √“¬‰¥â

¡“μ√∞“π°“√∫—≠™’©∫—∫∑’Ë 19 º≈ª√–‚¬™πå¢Õßæπ—°ß“π

¡“μ√∞“π°“√∫—≠™’©∫—∫∑’Ë 23 (ª√—∫ª√ÿß 2552) μâπ∑ÿπ°“√°Ÿâ¬◊¡

¡“μ√∞“π°“√∫—≠™’©∫—∫∑’Ë 24 (ª√—∫ª√ÿß 2552) °“√‡ªî¥‡º¬¢âÕ¡Ÿ≈‡°’Ë¬«°—∫∫ÿ§§≈À√◊Õ°‘®°“√∑’Ë

‡°’Ë¬«¢âÕß°—π

¡“μ√∞“π°“√∫—≠™’©∫—∫∑’Ë 26 °“√∫—≠™’·≈–°“√√“¬ß“π‚§√ß°“√º≈ª√–‚¬™πå

‡¡◊ËÕÕÕ°®“°ß“π

¡“μ√∞“π°“√∫—≠™’©∫—∫∑’Ë 27 (ª√—∫ª√ÿß 2552) ß∫°“√‡ß‘π√«¡·≈–ß∫°“√‡ß‘π‡©æ“–°‘®°“√

¡“μ√∞“π°“√∫—≠™’©∫—∫∑’Ë 28 (ª√—∫ª√ÿß 2552) ‡ß‘π≈ß∑ÿπ„π∫√‘…—∑√à«¡

¡“μ√∞“π°“√∫—≠™’©∫—∫∑’Ë 29 °“√√“¬ß“π∑“ß°“√‡ß‘π„π ¿“æ‡»√…∞°‘®∑’Ë

‡ß‘π‡øÑÕ√ÿπ·√ß

¡“μ√∞“π°“√∫—≠™’©∫—∫∑’Ë 31 (ª√—∫ª√ÿß 2552) à«π‰¥â‡ ’¬„π°“√√à«¡§â“

¡“μ√∞“π°“√∫—≠™’©∫—∫∑’Ë 33 (ª√—∫ª√ÿß 2552) °”‰√μàÕÀÿâπ

¡“μ√∞“π°“√∫—≠™’©∫—∫∑’Ë 34 (ª√—∫ª√ÿß 2552) ß∫°“√‡ß‘π√–À«à“ß°“≈

¡“μ√∞“π°“√∫—≠™’©∫—∫∑’Ë 36 (ª√—∫ª√ÿß 2552) °“√¥âÕ¬§à“¢Õß ‘π∑√—æ¬å

¡“μ√∞“π°“√∫—≠™’©∫—∫∑’Ë 37 (ª√—∫ª√ÿß 2552) ª√–¡“≥°“√Àπ’È ‘π Àπ’È ‘π∑’ËÕ“®‡°‘¥¢÷Èπ ·≈–

‘π∑√—æ¬å∑’ËÕ“®‡°‘¥¢÷Èπ

¡“μ√∞“π°“√∫—≠™’©∫—∫∑’Ë 38 (ª√—∫ª√ÿß 2552) ‘π∑√—æ¬å‰¡à¡’μ—«μπ

¡“μ√∞“π°“√∫—≠™’©∫—∫∑’Ë 40 (ª√—∫ª√ÿß 2552) Õ —ßÀ“√‘¡∑√—æ¬å‡æ◊ËÕ°“√≈ß∑ÿπ

¡“μ√∞“π°“√√“¬ß“π∑“ß°“√‡ß‘π©∫—∫∑’Ë 2 °“√®à“¬‚¥¬„™âÀÿâπ‡ªìπ‡°≥±å


e) Minority interests represent the portion of net income or loss and net assets of the subsidiaries

that are not held by the Company and are presented separately in the consolidated income

statement and within equity in the consolidated balance sheet.

2.3 The separate financial statements, which present investments in subsidiaries under the cost method,

have been prepared solely for the benefit of the public.

3. Adoption of new accounting standards

During the current year, the Federation of Accounting Professions issued a number of revised and new

accounting standards as listed below.

a) Accounting standards that are effective for fiscal years beginning on or after 1 January 2011 (except

Framework for the Preparation and Presentation of Financial Statements, which is immediately

effective):

Framework for the Preparation and Presentation of Financial Statements

(revised 2009)

TAS 1 (revised 2009) Presentation of Financial Statements

TAS 2 (revised 2009) Inventories

TAS 7 (revised 2009) Statement of Cash Flows

TAS 8 (revised 2009) Accounting Policies, Changes in Accounting Estimates and Errors

TAS 10 (revised 2009) Events after the Reporting Period

TAS 11 (revised 2009) Construction Contracts

TAS 16 (revised 2009) Property, Plant and Equipment

TAS 17 (revised 2009) Leases

TAS 18 (revised 2009) Revenue

TAS 19 Employee Benefits

TAS 23 (revised 2009) Borrowing Costs

TAS 24 (revised 2009) Related Party Disclosures

TAS 26 Accounting and Reporting by Retirement Benefit Plans

TAS 27 (revised 2009) Consolidated and Separate Financial Statements

TAS 28 (revised 2009) Investments in Associates

TAS 29 Financial Reporting in Hyperinflationary Economies

TAS 31 (revised 2009) Interests in Joint Ventures

TAS 33 (revised 2009) Earnings per Share

TAS 34 (revised 2009) Interim Financial Reporting

TAS 36 (revised 2009) Impairment of Assets

TAS 37 (revised 2009) Provisions, Contingent Liabilities and Contingent Assets

TAS 38 (revised 2009) Intangible Assets

TAS 40 (revised 2009) Investment Property

TFRS 2 Share-Based Payment


¡“μ√∞“π°“√√“¬ß“π∑“ß°“√‡ß‘π©∫—∫∑’Ë 3 (ª√—∫ª√ÿß 2552) °“√√«¡∏ÿ√°‘®

¡“μ√∞“π°“√√“¬ß“π∑“ß°“√‡ß‘π©∫—∫∑’Ë 5 (ª√—∫ª√ÿß 2552) ‘π∑√—æ¬å‰¡àÀ¡ÿπ‡«’¬π∑’Ë∂◊Õ‰«â‡æ◊ËÕ¢“¬·≈–

°“√¥”‡π‘πß“π∑’Ë¬°‡≈‘°

¡“μ√∞“π°“√√“¬ß“π∑“ß°“√‡ß‘π©∫—∫∑’Ë 6 °“√ ”√«®·≈–ª√–‡¡‘π§à“·À≈àß∑√—æ¬“°√·√à

°“√μ’§«“¡¡“μ√∞“π°“√√“¬ß“π∑“ß°“√‡ß‘π©∫—∫∑’Ë 15 —≠≠“°“√°àÕ √â“ßÕ —ßÀ“√‘¡∑√—æ¬å

¢) ¡“μ√∞“π°“√∫—≠™’∑’Ë¡’º≈∫—ß§—∫„™â ”À√—∫√Õ∫√–¬–‡«≈“∫—≠™’∑’Ë‡√‘Ë¡„πÀ√◊ÕÀ≈—ß«—π∑’Ë 1 ¡°√“§¡ 2556

¡“μ√∞“π°“√∫—≠™’©∫—∫∑’Ë 12 ¿“…’‡ß‘π‰¥â

¡“μ√∞“π°“√∫—≠™’©∫—∫∑’Ë 20 (ª√—∫ª√ÿß 2552) °“√∫—≠™’ ”À√—∫‡ß‘πÕÿ¥Àπÿπ®“°√—∞∫“≈ ·≈–°“√

‡ªî¥‡º¬¢âÕ¡Ÿ≈‡°’Ë¬«°—∫§«“¡™à«¬‡À≈◊Õ®“°√—∞∫“≈

¡“μ√∞“π°“√∫—≠™’©∫—∫∑’Ë 21 (ª√—∫ª√ÿß 2552) º≈°√–∑∫®“°°“√‡ª≈’Ë¬π·ª≈ß¢ÕßÕ—μ√“·≈°‡ª≈’Ë¬π

‡ß‘πμ√“μà“ßª√–‡∑»

ΩÉ“¬∫√‘À“√¢Õß∫√‘…—∑œ‡™◊ËÕ«à“¡“μ√∞“π°“√∫—≠™’¢â“ßμâπ®–‰¡à¡’º≈°√–∑∫Õ¬à“ß‡ªìπ “√– ”§—≠μàÕß∫°“√‡ß‘π ”À√—∫ªï

∑’Ë‡√‘Ë¡„™â¡“μ√∞“π°“√∫—≠™’¥—ß°≈à“« ¬°‡«âπ¡“μ√∞“π°“√∫—≠™’¥—ßμàÕ‰ªπ’È∑’ËΩÉ“¬∫√‘À“√§“¥«à“®–¡’º≈°√–∑∫μàÕß∫°“√‡ß‘π

„πªï∑’Ëπ”¡“μ√∞“π°“√∫—≠™’¥—ß°≈à“«¡“∂◊ÕªØ‘∫—μ‘

¡“μ√∞“π°“√∫—≠™’ ©∫—∫∑’Ë 19 ‡√◊ËÕß º≈ª√–‚¬™πå¢Õßæπ—°ß“π

¡“μ√∞“π°“√∫—≠™’©∫—∫π’È°”Àπ¥„Àâ°‘®°“√√—∫√Ÿâº≈ª√–‚¬™πå∑’Ë„Àâ°—∫æπ—°ß“π‡ªìπ§à“„™â®à“¬‡¡◊ËÕ°‘®°“√‰¥â√—∫∫√‘°“√®â“ßß“π

®“°æπ—°ß“π·≈â« ‚¥¬‡©æ“–Õ¬à“ß¬‘Ëß°‘®°“√®–μâÕßª√–‡¡‘π·≈–∫—π∑÷°Àπ’È ‘π‡°’Ë¬«°—∫º≈ª√–‚¬™πå¢Õßæπ—°ß“π‡π◊ËÕß®“°

‡°…’¬≥Õ“¬ÿ ‚¥¬„™â°“√§”π«≥μ“¡À≈—°§≥‘μ»“ μ√åª√–°—π¿—¬ ´÷Ëß„πªí®®ÿ∫—π∫√‘…—∑œ√—∫√Ÿâº≈ª√–‚¬™πå∑’Ë„Àâ°—∫æπ—°ß“π

¥—ß°≈à“«‡¡◊ËÕ‡°‘¥√“¬°“√

°“√‡ª≈’Ë¬π·ª≈ßπ‚¬∫“¬°“√∫—≠™’¥—ß°≈à“«„πªï 2554 ®–¡’º≈∑”„Àâ°”‰√ – ¡¬°¡“μâπªï≈¥≈ßª√–¡“≥ 8 ≈â“π∫“∑

¡“μ√∞“π°“√∫—≠™’ ©∫—∫∑’Ë 12 ‡√◊ËÕß ¿“…’‡ß‘π‰¥â

¡“μ√∞“π°“√∫—≠™’©∫—∫π’È°”Àπ¥„Àâ°‘®°“√√–∫ÿº≈·μ°μà“ß™—Ë«§√“«∑’Ë‡°‘¥®“°§«“¡·μ°μà“ß¢Õß¡Ÿ≈§à“ ‘π∑√—æ¬å·≈–Àπ’È ‘π

√–À«à“ß‡°≥±å∑“ß∫—≠™’·≈–¿“…’Õ“°√ ‡æ◊ËÕ√—∫√Ÿâº≈°√–∑∫∑“ß¿“…’‡ªìπ ‘π∑√—æ¬åÀ√◊ÕÀπ’È ‘π¿“…’‡ß‘π‰¥â√Õ°“√μ—¥∫—≠™’μ“¡

À≈—°‡°≥±å∑’Ë°”Àπ¥

ªí®®ÿ∫—πΩÉ“¬∫√‘À“√¢Õß∫√‘…—∑œÕ¬Ÿà√–À«à“ß°“√ª√–‡¡‘πº≈°√–∑∫∑’ËÕ“®¡’μàÕß∫°“√‡ß‘π„πªï∑’Ë‡√‘Ë¡π”¡“μ√∞“π°“√∫—≠™’

©∫—∫π’È¡“∂◊ÕªØ‘∫—μ‘

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«

¥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


TFRS 3 (revised 2009) Business Combinations

TFRS 5 (revised 2009) Non-current Assets Held for Sale and Discontinued Operations

TFRS 6 Exploration for and Evaluation of Mineral Resources

TFRIC 15 Agreements for the Construction of Real Estate

b) Accounting standards that are effective for fiscal years beginning on or after 1 January 2013:

TAS 12 Income Taxes

TAS 20 (revised 2009) Accounting for Government Grants and

Disclosure of Government Assistance

TAS 21 (revised 2009) The Effects of Changes in Foreign Exchange Rates

The Companyûs management believes that these accounting standards will not have any

significant impact on the financial statements for the year when they are initially applied,

except for the following accounting standards which management expects the impact on the

financial statements in the year when they are adopted.

TAS 19 Employee Benefits

This accounting standard requires employee benefits to be recognised as expense in the period in which

the service is performed by the employee. In particular, an entity has to evaluate and make a provision

for post-employment benefits using actuarial techniques. Currently, the Company accounts for such

employee benefits when they are incurred.

The change in this accounting policy in 2011 will have the effect of decreasing the beginning balance of

retained earnings by Baht 8 million.

TAS 12 Income Taxes

This accounting standard requires an entity to identify temporary differences, which are differences

between the carrying amount of an asset or liability in the accounting records and its tax base, and to

recognize deferred tax assets and liabilities under the stipulated guidelines.

At present, the management is evaluating the impact on the financial statements in the year when this

standard is adopted.

4. Significant accounting policies

4.1 Revenue recognition

Sales of goods

Sales of goods are recognized when the significant risks and rewards of ownership of the goods

have passed to the buyer. Sales are the invoiced value, excluding value added tax, of goods

supplied after deducting discounts and allowances.

Interest income

Interest income is recognized on an accrual basis based on the effective rate.

4.2 Cash and cash equivalents

Cash and cash equivalents consist of cash in hand and at banks, and all highly liquid investments

with an original maturity of three months or less and not subject to withdrawal restrictions.


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‘∏√√¡ °“√‡ª≈’Ë¬π·ª≈ß„π¡Ÿ≈§à“¬ÿμ‘∏√√¡¢ÕßÀ≈—°∑√—æ¬å

∫—π∑÷°‡ªìπ°”‰√À√◊Õ¢“¥∑ÿπ„πß∫°”‰√¢“¥∑ÿπ

¢) ‡ß‘π≈ß∑ÿπ„πÀ≈—°∑√—æ¬å‡º◊ËÕ¢“¬· ¥ßμ“¡¡Ÿ≈§à“¬ÿμ‘∏√√¡ °“√‡ª≈’Ë¬π·ª≈ß„π¡Ÿ≈§à“¬ÿμ‘∏√√¡¢ÕßÀ≈—°∑√—æ¬å

¥—ß°≈à“«∫—π∑÷°‡ªìπ√“¬°“√μà“ßÀ“°„π à«π¢ÕßºŸâ∂◊ÕÀÿâπ ·≈–®–∫—π∑÷°‡ªìπ°”‰√À√◊Õ¢“¥∑ÿπ„πß∫°”‰√¢“¥∑ÿπ

‡¡◊ËÕ‰¥â®”Àπà“¬À≈—°∑√—æ¬åπ—ÈπÕÕ°‰ª

§) ‡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 ¡Ÿ≈§à“¬ÿμ‘∏√√¡¢ÕßÀπà«¬≈ß∑ÿπ§”π«≥®“°¡Ÿ≈§à“ ‘π∑√—æ¬å ÿ∑∏‘¢ÕßÀπà«¬≈ß∑ÿπ

∫√‘…—∑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®“°ª√–‡¿∑Àπ÷Ëß‰ª‡ªìπÕ’°ª√–‡¿∑Àπ÷Ëß ∫√‘…—∑œ®–ª√—∫¡Ÿ≈§à“¢Õß‡ß‘π

≈ß∑ÿπ¥—ß°≈à“«„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√“¬°“√°”‰√À√◊Õ¢“¥∑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

‡¡◊ËÕ¡’°“√®”Àπà“¬‡ß‘π≈ß∑ÿπ º≈μà“ß√–À«à“ß ‘ËßμÕ∫·∑π ÿ∑∏‘∑’Ë‰¥â√—∫°—∫¡Ÿ≈§à“μ“¡∫—≠™’¢Õß‡ß‘π≈ß∑ÿπ ®–∂Ÿ°∫—π∑÷°

‡ªìπ√“¬‰¥âÀ√◊Õ§à“„™â®à“¬„πß∫°”‰√¢“¥∑ÿπ

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“‡º◊ËÕ

°“√¥âÕ¬§à“¢Õß ‘π∑√—æ¬å (∂â“¡’)

§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

§à“‡ ◊ËÕ¡√“§“√«¡Õ¬Ÿà„π°“√§”π«≥º≈°“√¥”‡π‘πß“π

∫√‘…—∑œμ—¥√“¬°“√∑’Ë¥‘π Õ“§“√ ·≈–Õÿª°√≥å ÕÕ°®“°∫—≠™’ ‡¡◊ËÕ®”Àπà“¬ ‘π∑√—æ¬åÀ√◊Õ§“¥«à“®–‰¡à‰¥â√—∫ª√–‚¬™πå

‡™‘ß‡»√…∞°‘®„πÕπ“§μ®“°°“√„™âÀ√◊Õ°“√®”Àπà“¬ ‘π∑√—æ¬å √“¬°“√º≈°”‰√À√◊Õ¢“¥∑ÿπ®“°°“√®”Àπà“¬ ‘π∑√—æ¬å

(º≈μà“ß√–À«à“ß ‘ËßμÕ∫·∑π ÿ∑∏‘∑’Ë‰¥â√—∫®“°°“√®”Àπà“¬ ‘π∑√—æ¬å°—∫¡Ÿ≈§à“μ“¡∫—≠™’¢Õß ‘π∑√—æ¬åπ—Èπ) ®–√—∫√Ÿâ„π

ß∫°”‰√¢“¥∑ÿπ‡¡◊ËÕ∫√‘…—∑œμ—¥√“¬°“√ ‘π∑√—æ¬åπ—ÈπÕÕ°®“°∫—≠™’


4.3 Spare parts and supplies

Spare parts and supplies are valued at the lower of average cost and net realisable value and

constitute part of production costs whenever consumed.

4.4 Investments

a) Investments in securities held for trading are stated at fair value. Changes in the fair value of

these securities are recorded as gains or losses in the income statement.

b) Investments in available-for-sale securities are stated at fair value. Changes in the fair value of

these securities are recorded as a separate item in shareholdersû equity, and will be recorded

as gains or losses in the income statement when the securities are sold.

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. 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 from one type to another, such investments will

be readjusted to their fair value as at the reclassification date. The difference between the carrying

amount of the investments and the fair value on the date of reclassification are recorded as gains or

losses in the income statement or recorded as surplus (deficit) from changes in the value of

investments in shareholdersû equity, depending on the type of investment that is reclassified.

On disposal of an investment, the difference between net disposal proceeds and the carrying

amount of the investment is recognised as income or expenses in the income statement.

4.5 Property, plant and equipment/Depreciation

Land is stated at cost. Plant and equipment are stated at cost less accumulated depreciation and

allowance for impairment loss of assets (if any).

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 years

Power plant improvement 3 - 6 years

Buildings 20 - 25 years

Tools and equipment 5 - 10 years

Furniture, fixtures and office equipment 3 - 5 years

Vehicles 5 years

No depreciation is provided for land and construction in progress.

Depreciation is included in determining income.

An item of property, plant and equipment is derecognised upon disposal or when no future

economic benefits are expected from its use or disposal. Any gain or loss arising on disposal of an

asset (calculated as the difference between the net disposal proceeds and the carrying amount of

the asset) is included in the income statement when the asset is derecognised.


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°∫√‘…—∑œ

§«∫§ÿ¡‰¡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§§≈∑’Ë¡’ ‘∑∏‘ÕÕ°‡ ’¬ß‚¥¬∑“ßμ√ßÀ√◊Õ∑“ßÕâÕ¡´÷Ëß∑”„Àâ

¡’Õ‘∑∏‘æ≈Õ¬à“ß‡ªìπ “√– ”§—≠μàÕ∫√‘…—∑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°“√¥âÕ¬§à“¢Õß∑’Ë¥‘π Õ“§“√·≈–Õÿª°√≥å À“°¡’¢âÕ∫àß™’È«à“ ‘π∑√—æ¬å

¥—ß°≈à“«Õ“®¥âÕ¬§à“ ∫√‘…—∑œ√—∫√Ÿâ¢“¥∑ÿπ®“°°“√¥âÕ¬§à“‡¡◊ËÕ¡Ÿ≈§à“∑’Ë§“¥«à“®–‰¥â√—∫§◊π¢Õß ‘π∑√—æ¬å¡’¡Ÿ≈§à“μË”°«à“

¡Ÿ≈§à“μ“¡∫—≠™’¢Õß ‘π∑√—æ¬åπ—Èπ ∑—Èßπ’È¡Ÿ≈§à“∑’Ë§“¥«à“®–‰¥â√—∫§◊πÀ¡“¬∂÷ß¡Ÿ≈§à“¬ÿμ‘∏√√¡À—°μâπ∑ÿπ„π°“√¢“¬

¢Õß ‘π∑√—æ¬åÀ√◊Õ¡Ÿ≈§à“®“°°“√„™â ‘π∑√—æ¬å·≈â«·μà√“§“„¥®– Ÿß°«à“ „π°“√ª√–‡¡‘π¡Ÿ≈§à“®“°°“√„™â ‘π∑√—æ¬å

∫√‘…—∑œª√–¡“≥°“√°√–· ‡ß‘π ¥„πÕπ“§μ∑’Ë°‘®°“√§“¥«à“®–‰¥â√—∫®“° ‘π∑√—æ¬å·≈–§”π«≥§‘¥≈¥‡ªìπ¡Ÿ≈§à“

ªí®®ÿ∫—π‚¥¬„™âÕ—μ√“§‘¥≈¥°àÕπ¿“…’∑’Ë –∑âÕπ∂÷ß°“√ª√–‡¡‘π§«“¡‡ ’Ë¬ß„π ¿“æμ≈“¥ªí®®ÿ∫—π¢Õß‡ß‘π ¥μ“¡

√–¬–‡«≈“·≈–§«“¡‡ ’Ë¬ß´÷Ëß‡ªìπ≈—°…≥–‡©æ“–¢Õß ‘π∑√—æ¬å∑’Ë°”≈—ßæ‘®“√≥“Õ¬Ÿà „π°“√ª√–‡¡‘π¡Ÿ≈§à“¬ÿμ‘∏√√¡

À—°μâπ∑ÿπ„π°“√¢“¬ ∫√‘…—∑œ„™â·∫∫®”≈Õß°“√ª√–‡¡‘π¡Ÿ≈§à“∑’Ë¥’∑’Ë ÿ¥´÷Ëß‡À¡“– ¡°—∫ ‘π∑√—æ¬å ´÷Ëß –∑âÕπ∂÷ß

®”π«π‡ß‘π∑’Ë°‘®°“√ “¡“√∂®–‰¥â¡“®“°°“√®”Àπà“¬ ‘π∑√—æ¬åÀ—°¥â«¬μâπ∑ÿπ„π°“√®”Àπà“¬ ‚¥¬°“√®”Àπà“¬π—Èπ

ºŸâ´◊ÈÕ°—∫ºŸâ¢“¬¡’§«“¡√Õ∫√Ÿâ·≈–‡μÁ¡„®„π°“√·≈°‡ª≈’Ë¬π·≈– “¡“√∂μàÕ√Õß√“§“°—π‰¥âÕ¬à“ß‡ªìπÕ‘ √–„π≈—°…≥–

¢ÕßºŸâ∑’Ë‰¡à¡’§«“¡‡°’Ë¬«¢âÕß°—π

∫√‘…—∑œ®–√—∫√Ÿâ√“¬°“√¢“¥∑ÿπ®“°°“√¥âÕ¬§à“„πß∫°”‰√¢“¥∑ÿπ

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‰¥âμ“¡®”π«π∑’Ë§“¥«à“®–®à“¬„Àâ°—∫Àπà«¬ß“π®—¥‡°Á∫¿“…’¢Õß√—∞ ‚¥¬§”π«≥®“°°”‰√

∑“ß¿“…’μ“¡À≈—°‡°≥±å∑’Ë°”Àπ¥„π°ÆÀ¡“¬¿“…’Õ“°√

4.11 μâπ∑ÿπ°“√°Ÿâ¬◊¡

μâπ∑ÿπ°“√°Ÿâ¬◊¡¢Õß‡ß‘π°Ÿâ∑’Ë„™â„π°“√®—¥À“À√◊Õ°àÕ √â“ß ‘π∑√—æ¬å∑’ËμâÕß„™â√–¬–‡«≈“π“π„π°“√∑”„ÀâÕ¬Ÿà„π ¿“æ

æ√âÕ¡„™â ‰¥â∂Ÿ°π”‰ª√«¡‡ªìπ√“§“∑ÿπ¢Õß ‘π∑√—æ¬å®π°«à“ ‘π∑√—æ¬åπ—Èπ®–Õ¬Ÿà „π ¿“ææ√âÕ¡∑’Ë®–„™â ‰¥âμ“¡∑’Ë

¡ÿàßª√– ß§å à«πμâπ∑ÿπ°“√°Ÿâ¬◊¡Õ◊Ëπ∂◊Õ‡ªìπ§à“„™â®à“¬„πß«¥∑’Ë‡°‘¥√“¬°“√ μâπ∑ÿπ°“√°Ÿâ¬◊¡ª√–°Õ∫¥â«¬¥Õ°‡∫’È¬·≈–

μâπ∑ÿπÕ◊Ëπ∑’Ë‡°‘¥¢÷Èπ®“°°“√°Ÿâ¬◊¡π—Èπ


4.6 Related party transactions

Related parties comprise enterprises and individuals that control or are controlled by the Company,

whether directly 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 them significant influence over the Company, key management personnel, directors and

officers with authority in the planning and direction of the Companyûs operations.

4.7 Foreign currencies

Foreign 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 into Baht at the exchange rates ruling on the balance sheet date.

Gains and losses on exchange are included in determining income.

4.8 Impairment of assets

At each reporting date, the Company performs impairment reviews in respect of the property, plant

and equipment whenever events or changes in circumstances indicate that an asset may be

impaired. An impairment loss is recognised when the recoverable amount of an asset, which is the

higher of the assetûs fair value less costs to sell and its value in use, is less than the carrying

amount. In determining value in use, the estimated future cash flows are discounted to their present

value using a pre-tax discount rate that reflects current market assessments of the time value of

money and the risks specific to the asset. In determining fair value less costs to sell, an appropriate

valuation model is used. These calculations are corroborated by a valuation model that, based on

information available, reflects the amount that the Company could obtain from the disposal of the

asset in an armûs length transaction between knowledgeable, willing parties, after deducting the

costs of disposal.

An impairment loss is recognised in the income statement.

4.9 Employee benefits

Salaries, wages, bonuses and contributions to the social security fund and provident fund are

recognised as expenses when incurred.

4.10 Income tax

Income tax is provided in the accounts at the amount expected to be paid to the taxation

authorities, based on taxable profits determined in accordance with tax legislation.

4.11 Borrowing cost

Borrowing costs directly attributable to the acquisition or construction of an asset that necessarily

takes a substantial period of time to get ready for its intended use are capitalised as part of the

cost of the respective assets. All other borrowing costs are expensed in the period they are

incurred. Borrowing costs consist of interest and other costs that an entity incurs in connection with

the borrowing of funds.


4.12 °“√„™â¥ÿ≈¬æ‘π‘®·≈–ª√–¡“≥°“√∑“ß∫—≠™’∑’Ë ”§—≠

„π°“√®—¥∑”ß∫°“√‡ß‘πμ“¡¡“μ√∞“π°“√∫—≠™’∑’Ë√—∫√Õß∑—Ë«‰ª ΩÉ“¬∫√‘À“√®”‡ªìπμâÕß„™â¥ÿ≈¬æ‘π‘®·≈–°“√ª√–¡“≥

°“√„π‡√◊ËÕß∑’Ë¡’§«“¡‰¡à·πàπÕπ‡ ¡Õ °“√„™â¥ÿ≈¬æ‘π‘®·≈–°“√ª√–¡“≥°“√¥—ß°≈à“«π’È àßº≈°√–∑∫μàÕ®”π«π‡ß‘π

∑’Ë· ¥ß„πß∫°“√‡ß‘π·≈–μàÕ¢âÕ¡Ÿ≈∑’Ë· ¥ß„πÀ¡“¬‡Àμÿª√–°Õ∫ß∫°“√‡ß‘π º≈∑’Ë‡°‘¥¢÷Èπ®√‘ßÕ“®·μ°μà“ß‰ª®“°

®”π«π∑’Ëª√–¡“≥°“√‰«â °“√„™â¥ÿ≈¬æ‘π‘®·≈–°“√ª√–¡“≥°“√∑’Ë ”§—≠¡’¥—ßπ’È

§à“‡º◊ËÕ°“√¥âÕ¬§à“¢Õß ‘π∑√—æ¬å

∫√‘…—∑œ®–μ—Èß§à“‡º◊ËÕ°“√¥âÕ¬§à“¢Õß ‘π∑√—æ¬å‡¡◊ËÕΩÉ“¬∫√‘À“√„™â¥ÿ≈¬æ‘π‘®„π°“√æ‘®“√≥“«à“¡Ÿ≈§à“¬ÿμ‘∏√√¡

¢Õß ‘π∑√—æ¬å¥—ß°≈à“«‰¥â≈¥≈ßÕ¬à“ß¡’ “√– ”§—≠À√◊Õ‡¡◊ËÕ¡’¢âÕ∫àß™’È¢Õß°“√¥âÕ¬§à“ °“√∑’Ë®– √ÿª«à“ ‘π∑√—æ¬å

¥—ß°≈à“«‰¥â≈¥≈ßÕ¬à“ß¡’ “√– ”§—≠À√◊Õ‰¡àπ—Èπ®”‡ªìπμâÕß„™â¥ÿ≈¬æ‘π‘®¢ÕßΩÉ“¬∫√‘À“√

∑’Ë¥‘π Õ“§“√·≈–Õÿª°√≥å·≈–§à“‡ ◊ËÕ¡√“§“

„π°“√§”π«≥§à“‡ ◊ËÕ¡√“§“¢ÕßÕ“§“√·≈–Õÿª°√≥å ΩÉ“¬∫√‘À“√®”‡ªìπμâÕß∑”°“√ª√–¡“≥Õ“¬ÿ°“√„™âß“π·≈–

¡Ÿ≈§à“´“°‡¡◊ËÕ‡≈‘°„™âß“π¢ÕßÕ“§“√·≈–Õÿª°√≥å ·≈–μâÕß∑∫∑«πÕ“¬ÿ°“√„™âß“π·≈–¡Ÿ≈§à“´“°„À¡àÀ“°¡’°“√

‡ª≈’Ë¬π·ª≈ß‡™àππ—Èπ‡°‘¥¢÷Èπ

πÕ°®“°π’ÈΩÉ“¬∫√‘À“√®”‡ªìπμâÕß Õ∫∑“π°“√¥âÕ¬§à“¢Õß∑’Ë¥‘π Õ“§“√·≈–Õÿª°√≥å„π·μà≈–™à«ß‡«≈“·≈–∫—π∑÷°

¢“¥∑ÿπ®“°°“√¥âÕ¬§à“À“°§“¥«à“¡Ÿ≈§à“∑’Ë§“¥«à“®–‰¥â√—∫§◊πμË”°«à“¡Ÿ≈§à“μ“¡∫—≠™’¢Õß ‘π∑√—æ¬åπ—Èπ „π°“√π’È

ΩÉ“¬∫√‘À“√®”‡ªìπμâÕß„™â¥ÿ≈¬æ‘π‘®∑’Ë‡°’Ë¬«¢âÕß°—∫°“√§“¥°“√≥å√“¬‰¥â·≈–§à“„™â®à“¬„πÕπ“§μ ÷Ëß‡°’Ë¬«‡π◊ËÕß°—∫

‘π∑√—æ¬åπ—Èπ

5. ‡ß‘π ¥·≈–√“¬°“√‡∑’¬∫‡∑à“‡ß‘π ¥

(Àπà«¬: ∫“∑)

ß∫°“√‡ß‘π√«¡ ß∫°“√‡ß‘π‡©æ“–°‘®°“√

2553 2552 2553 2552

‡ß‘π ¥ 483,211 326,992 24,070 146,413

‡ß‘πΩ“°∏π“§“√ 89,118,014 92,708,307 74,934,599 52,572,868

√«¡ 89,601,225 93,035,299 74,958,669 52,719,281

6. ≈Ÿ°Àπ’È°“√§â“

¬Õ¥§ß‡À≈◊Õ≈Ÿ°Àπ’È°“√§â“ ≥ «—π∑’Ë 31 ∏—π«“§¡ 2553 ·≈– 2552 ‡ªìπÀπ’È∑’Ë¬—ß‰¡à∂÷ß°”Àπ¥™”√–

7. √“¬°“√∏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


4.12 Significant accounting judgements and estimates

The preparation of financial statements in conformity with generally accepted accounting principles

at times requires management to make subjective judgements and estimates regarding matters that

are inherently uncertain. These judgements and estimates affect reported amounts and disclosures

and actual results could differ from these estimates. Significant judgements and estimates are as

follows:

Impairment of assets

The Company treats assets as impaired when the management judges that there has been a

significant decline in the fair value below their cost or where other objective evidence of impairment

exists. The determination of what is çsignificanté requires judgement.

Property plant and equipment/Depreciation

In determining depreciation of plant and equipment, the management is required to make estimates

of the useful lives and salvage values of the Companyûs plant and equipment and to review estimate

useful lives and salvage values when there are any changes.

In addition, the management is required to review property, plant and equipment for impairment on

a periodical basis and record impairment losses in the period when it is determined that their

recoverable amount is lower than the carrying amount. This requires judgements regarding forecast

of future revenues and expenses relating to the assets subject to the review.

5. Cash and cash equivalents

(Unit: Baht)

Consolidated Separate

financial statements financial statements

2010 2009 2010 2009

Cash 483,211 326,992 24,070 146,413

Bank deposits 89,118,014 92,708,307 74,934,599 52,572,868

Total 89,601,225 93,035,299 74,958,669 52,719,281

6. Trade accounts receivable

As at 31 December 2010 and 2009, the outstanding balances of trade accounts receivable are not yet

due.

7. Related party transactions

During the years, the Company and its subsidiaries had significant business transactions with related

parties, which have been concluded on commercial terms and bases agreed upon in the ordinary course

of business between the Company and those companies. Below is a summary of those transactions.


(Àπà«¬: ≈â“π∫“∑)

ß∫°“√‡ß‘π√«¡ ß∫°“√‡ß‘π‡©æ“–°‘®°“√ π‚¬∫“¬°“√°”Àπ¥√“§“

2553 2552 2553 2552

√“¬°“√∏ÿ√°‘®°—∫∫√‘…—∑¬àÕ¬

(μ—¥ÕÕ°®“°ß∫°“√‡ß‘π√«¡·≈â«)

∫√‘…—∑ À‚§‡®π °√’π ®”°—¥

§à“∫√‘°“√®à“¬ - - 0.9 3.5 √“§“∑ÿπ

§à“∫√‘°“√√—∫ - - 4.9 4.2 √“§“∑ÿπ

¥Õ°‡∫’È¬√—∫ - - 0.4 0.9 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√–‡∑»

∫√‘…—∑ À°√’π øÕ‡√ ∑å ®”°—¥

§à“∫√‘°“√√—∫ - - 2.1 - √“§“∑’Ëμ°≈ß√à«¡°—π

√“¬°“√∏ÿ√°‘®°—∫∫√‘…—∑∑’Ë‡°’Ë¬«¢âÕß°—π

∫√‘…—∑ Àæ—≤π“Õ‘π‡μÕ√å‚Œ≈¥‘Èß ®”°—¥ (¡À“™π)

¢“¬æ≈—ßß“π‰øøÑ“ 1,051.8 957.0 1,051.8 957.0 Õ—μ√“§à“‰øøÑ“¢Õß°“√‰øøÑ“ à«π¿Ÿ¡‘¿“§

À—°¥â«¬Õ—μ√“ à«π≈¥

¢“¬æ≈—ßß“π‰ÕπÈ” 317.8 270.9 317.8 270.9 √“§“μ“¡ —≠≠“

§à“∏√√¡‡π’¬¡®à“¬ ”À√—∫°“√§È”ª√–°—π 5.5 5.5 5.5 5.5 √“§“μ“¡ —≠≠“

§«“¡μâÕß°“√‰øøÑ“¢—ÈπμË”

§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“¬ 75.0 73.4 75.0 73.4 √“§“μ“¡ —≠≠“

§à“‡™à“‡§√◊ËÕß®—°√ 73.6 75.3 73.6 75.3 √“§“μ“¡ —≠≠“

∫√‘…—∑ ‘π¿√“¥√ ®”°—¥

§à“‡™à“∑’Ë¥‘π 1.7 1.7 1.7 1.7 √“§“μ“¡ —≠≠“

∫√‘…—∑ æ‘∑—°…å°‘® ®”°—¥

§à“∫√‘°“√°àÕ √â“ß 28.3 - - - √“§“μ“¡ —≠≠“

¬Õ¥§ß§â“ß√–À«à“ß∫√‘…—∑œ·≈–∫√‘…—∑∑’Ë‡°’Ë¬«¢âÕß°—π ≥ «—π∑’Ë 31 ∏—π«“§¡ 2553 ·≈– 2552 ¡’√“¬≈–‡Õ’¬¥¥—ßπ’È

(Àπà«¬: ∫“∑)

ß∫°“√‡ß‘π√«¡ ß∫°“√‡ß‘π‡©æ“–°‘®°“√

2553 2552 2553 2552

≈Ÿ°Àπ’È°“√§â“ - ∫√‘…—∑∑’Ë‡°’Ë¬«¢âÕß°—π

∫√‘…—∑ Àæ—≤π“Õ‘π‡μÕ√å‚Œ≈¥‘Èß ®”°—¥ (¡À“™π) 109,179,507 108,529,333 109,179,507 108,529,333

√«¡≈Ÿ°Àπ’È°“√§â“ - ∫√‘…—∑∑’Ë‡°’Ë¬«¢âÕß°—π 109,179,507 108,529,333 109,179,507 108,529,333


(Unit: Million Baht)


financial statements financial statements Pricing policy

2010 2009 2010 2009

Transactions with subsidiary

(eliminated from the consolidated

financial statements)

Sahacogen Green Company Limited

Service charges - - 0.9 3.5 At cost

Service revenue - - 4.9 4.2 At cost

Interest income - - 0.4 0.9 Minimum loan rate (MLR)

Interest expenses - - - 0.1 Interest rate of fixed deposit with

local commercial bank

Sahagreen Forest Company Limited

Service revenue - - 2.1 - As agreed

Transactions with related companies

Saha Pathana Inter-Holding Public

Company Limited

Sales of electricity 1,051.8 957.0 1,051.8 957.0 Electricity rate charged by the

Provincial Electricity Authority,

deducted by certain discount

Sales of steam 317.8 270.9 317.8 270.9 Contract price

Fee paid for guarantee for minimum 5.5 5.5 5.5 5.5 Contract price

electricity demand

Waste water treatment costs 2.5 2.5 2.5 2.5 Price charged to other customers in

the normal course of business

Purchase of land - 65.4 - - Price charged to other customers in

the normal course of business

Operational Energy Group Limited

Operation and service management fees 75.0 73.4 75.0 73.4 Contract price

Machinery lease fees 73.6 75.3 73.6 75.3 Contract price

Sinparadorn Company Limited

Land rental expense 1.7 1.7 1.7 1.7 Contract price

Pitakkij Company Limited

Construction services 28.3 - - - Contract price

The balances of the accounts as at 31 December 2010 and 2009 between the Company and those

related companies are as follows:

(Unit: Baht)



2010 2009 2010 2009

Trade accounts receivable - related company

Saha Pathana Inter-Holding Public Company Limited 109,179,507 108,529,333 109,179,507 108,529,333

Total trade accounts receivable - related company 109,179,507 108,529,333 109,179,507 108,529,333


(Àπà«¬: ∫“∑)

ß∫°“√‡ß‘π√«¡ ß∫°“√‡ß‘π‡©æ“–°‘®°“√

2553 2552 2553 2552

≈Ÿ°Àπ’ÈÕ◊Ëπ - ∫√‘…—∑¬àÕ¬

∫√‘…—∑ À‚§‡®π °√’π ®”°—¥ - - 897,461 635,959

∫√‘…—∑ À°√’π øÕ‡√ ∑å ®”°—¥ - - 1,898,900 -

√«¡≈Ÿ°Àπ’ÈÕ◊Ëπ - ∫√‘…—∑¬àÕ¬ - - 2,796,361 635,959

‡ß‘π„Àâ°Ÿâ¬◊¡√–¬– —Èπ·°à∫√‘…—∑¬àÕ¬

∫√‘…—∑ À‚§‡®π °√’π ®”°—¥ - - 23,000,000 -

√«¡‡ß‘π„Àâ°Ÿâ¬◊¡√–¬– —Èπ·°à∫√‘…—∑¬àÕ¬ - - 23,000,000 -

‡®â“Àπ’È°‘®°“√∑’Ë‡°’Ë¬«¢âÕß°—π

∫√‘…—∑¬àÕ¬

∫√‘…—∑ À‚§‡®π °√’π ®”°—¥ - - - 388,415

∫√‘…—∑∑’Ë‡°’Ë¬«¢âÕß°—π

∫√‘…—∑ ÕÕªÕ‡√™—ËππÕ≈ ‡ÕÁπ‡πÕ√å¬’Ë °√ÿäª ®”°—¥ 55,975,858 52,158,574 55,975,858 52,158,574

∫√‘…—∑ Àæ—≤π“Õ‘π‡μÕ√å‚Œ≈¥‘Èß ®”°—¥ (¡À“™π) 608,016 249,228 235,393 239,865

∫√‘…—∑ æ‘∑—°…å°‘® ®”°—¥ - 38,656 - -

∫√‘…—∑ æ’ ∑’ ‡§ ¡—≈μ‘‡´Õ√å«‘ ®”°—¥ - 159,957 - -

√«¡‡®â“Àπ’È°‘®°“√∑’Ë‡°’Ë¬«¢âÕß°—π 56,583,874 52,606,415 56,211,251 52,786,854

§à“μÕ∫·∑π°√√¡°“√·≈–ºŸâ∫√‘À“√

„πªï 2553 ∫√‘…—∑œ·≈–∫√‘…—∑¬àÕ¬¡’§à“„™â®à“¬ ”À√—∫‡ß‘π‡¥◊Õπ ‚∫π— §à“‡∫’È¬ª√–™ÿ¡·≈–‡ß‘π∫”‡ÀπÁ®¢Õß°√√¡°“√·≈–

ºŸâ∫√‘À“√ ‡ªìπ®”π«π‡ß‘π 26.3 ≈â“π∫“∑ (‡©æ“–¢Õß∫√‘…—∑œ: 24.9 ≈â“π∫“∑) (2552: 24.0 ≈â“π∫“∑ ‡©æ“–¢Õß∫√‘…—∑œ:

22.3 ≈â“π∫“∑)

8. ‡ß‘π≈ß∑ÿπ„π∫√‘…—∑¬àÕ¬

(Àπà«¬: ∫“∑)

ß∫°“√‡ß‘π‡©æ“–°‘®°“√

™◊ËÕ∫√‘…—∑ ∑ÿπ‡√’¬°™”√–·≈â« —¥ à«π‡ß‘π≈ß∑ÿπ √“§“∑ÿπ

2553 2552 2553 2552 2553 2552

≈â“π∫“∑ ≈â“π∫“∑ √âÕ¬≈– √âÕ¬≈–

∫√‘…—∑ À‚§‡®π °√’π ®”°—¥ 1,170.0 688.7 100 100 1,169,999,930 688,749,930

∫√‘…—∑ À°√’π øÕ‡√ ∑å ®”°—¥ 25.0 5.0 75 75 18,749,970 3,749,970

√«¡ 1,188,749,900 692,499,900

„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 ∫“∑) μàÕ¡“„π‡¥◊Õπ

°√°Æ“§¡ 2553 ∫√‘…—∑¬àÕ¬¥—ß°≈à“«‰¥â‡æ‘Ë¡∑ÿπ®¥∑–‡∫’¬π®“° 900 ≈â“π∫“∑ (Àÿâπ “¡—≠ 90 ≈â“πÀÿâπ ¡Ÿ≈§à“Àÿâπ≈– 10

∫“∑) ‡ªìπ 1,170 ≈â“π∫“∑ (Àÿâπ “¡—≠ 117 ≈â“πÀÿâπ ¡Ÿ≈§à“Àÿâπ≈– 10 ∫“∑) ∫√‘…—∑œ‰¥â™”√–§à“Àÿâπ à«π∑’Ë‡æ‘Ë¡∑ÿπ¥—ß°≈à“«

∑—ÈßÀ¡¥·≈â«„πªï 2553 √«¡‡ªìπ‡ß‘π 481.25 ≈â“π∫“∑


(Unit: Baht)



2010 2009 2010 2009

Other receivable - subsidiaries

Sahacogen Green Company Limited - - 897,461 635,959

Sahagreen Forest Company Limited - - 1,898,900 -

Total other receivable - subsidiaries - - 2,796,361 635,959

Short-term loans to subsidiary

Sahacogen Green Company Limited - - 23,000,000 -

Total short-term loans to subsidiary - - 23,000,000 -

Amount due to related parties

Subsidiary

Sahacogen Green Company Limited - - - 388,415

Related companies

Operational Energy Group Limited 55,975,858 52,158,574 55,975,858 52,158,574

Saha Pathana Inter-Holding Public Company Limited 608,016 249,228 235,393 239,865

Pitakkij Company Limited - 38,656 - -

PTK Multi Services Company Limited - 159,957 - -

Total amount due to related parties 56,583,874 52,606,415 56,211,251 52,786,854

Directors and managementûs benefits

In 2010 the Company and its subsidiaries had salaries, bonuses, meeting allowances and gratuities of

their directors and management recognised as expenses totaling Baht 26.3 million (Separate financial

statements: Baht 24.9.million) (2009: Baht 24.0 million, Separate financial statements: Baht 22.3 million).

8. Investments in subsidiaries

(Unit: Baht)


Companyûs name Paid-up capital Shareholding percentage Cost

2010 2009 2010 2009 2010 2009

Million Baht Million Baht % %

Sahacogen Green Company Limited 1,170.0 688.7 100 100 1,169,999,930 688,749,930

Sahagreen Forest Company Limited 25.0 5.0 75 75 18,749,970 3,749,970

Total 1,188,749,900 692,499,900

In June 2009, Sahacogen Green Company Limited increased its registered share capital from Baht 250

million (25 million ordinary shares of Baht 10 each) to Baht 900 million (90 million ordinary shares of Baht

10 each). Thereafter, in July 2010, the subsidiary increased its registered share capital from Baht 900

million (90 million ordinary shares of Baht 10 each) to Baht 1,170 million (117 million ordinary shares of

Baht 10 each). In 2010, the Company paid up the additional shares, totaling Baht 481.25 million.


„π‡¥◊Õπ ‘ßÀ“§¡ 2553 ∫√‘…—∑ À°√’π øÕ‡√ ∑å ®”°—¥ ‰¥â‡æ‘Ë¡∑ÿπ®¥∑–‡∫’¬π®“°‡¥‘¡ 5 ≈â“π∫“∑ (Àÿâπ “¡—≠ 500,000

Àÿâπ ¡Ÿ≈§à“Àÿâπ≈– 10 ∫“∑) ‡ªìπ 85 ≈â“π∫“∑ (Àÿâπ “¡—≠ 8.5 ≈â“πÀÿâπ ¡Ÿ≈§à“Àÿâπ≈– 10 ∫“∑) ‚¥¬∫√‘…—∑œ¬—ß§ß —¥ à«π

°“√∂◊ÕÀÿâπ‡¥‘¡„πÕ—μ√“√âÕ¬≈– 75 ∫√‘…—∑œ‰¥â™”√–§à“Àÿâπ à«π∑’Ë‡æ‘Ë¡∑ÿπ¥—ß°≈à“«·≈â«„π®”π«π√âÕ¬≈– 25 ¢Õß√“§“μ“¡

¡Ÿ≈§à“∑’Ëμ√“‰«â√«¡‡ªìπ®”π«π‡ß‘π 15 ≈â“π∫“∑

9. ∑’Ë¥‘π Õ“§“√·≈–Õÿª°√≥å

(Àπà«¬: ∫“∑)

ß∫°“√‡ß‘π√«¡

à«π ‡§√◊ËÕß¡◊Õ ‡§√◊ËÕßμ°·μàß

ª√—∫ª√ÿß ·≈– ·≈–‡§√◊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«“§¡ 2552 202,654,918 4,651,825,325 327,691,365 67,472,728 67,647,976 65,136,603 22,441,714 458,872,441 5,863,743,070

´◊ÈÕ‡æ‘Ë¡ 9,321,180 4,219,230 334,997,540 - 14,041,126 3,647,493 4,359,160 506,425,743 877,011,472

‚Õπ‡¢â“ (ÕÕ°) - 1,298,000 9,497,030 4,887,706 376,836 246,406 - (16,305,978) -

®”Àπà“¬ - - - - - - (2,675,000) - (2,675,000)

μ—¥®”Àπà“¬ - - (327,691,365) - - - - - (327,691,365)

¥Õ°‡∫’È¬®à“¬∑’Ë∂◊Õ‡ªìπμâπ∑ÿπ - - - - - - - 1,224,658 1,224,658

31 ∏—π«“§¡ 2553 211,976,098 4,657,342,555 344,494,570 72,360,434 82,065,938 69,030,502 24,125,874 950,216,864 6,411,612,835

§à“‡ ◊ËÕ¡√“§“ – ¡

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

§à“‡ ◊ËÕ¡√“§“ ”À√—∫ªï - 157,328,499 76,441,654 3,081,121 8,401,069 11,063,663 3,065,964 - 259,381,970

§à“‡ ◊ËÕ¡√“§“ à«π∑’Ë®”Àπà“¬ - - - - - - (1,000,000) - (1,000,000)

§à“‡ ◊ËÕ¡√“§“ à«π∑’Ëμ—¥®”Àπà“¬ - - (288,114,258) - - - - - (288,114,258)

31 ∏—π«“§¡ 2553 - 1,500,280,949 34,686,931 14,694,607 51,041,527 55,171,540 13,370,394 - 1,669,245,948

§à“‡º◊ËÕ°“√¥âÕ¬§à“

31 ∏—π«“§¡ 2552 - - - - - - - - -

∫—π∑÷°‡æ‘Ë¡¢÷Èπ√–À«à“ßªï - - - - - - - 41,590,406 41,590,406

31 ∏—π«“§¡ 2553 - - - - - - - 41,590,406 41,590,406

¡Ÿ≈§à“ ÿ∑∏‘μ“¡∫—≠™’

31 ∏—π«“§¡ 2552 202,654,918 3,308,872,875 81,331,830 55,859,242 25,007,518 21,028,726 11,137,284 458,872,441 4,164,764,834

31 ∏—π«“§¡ 2553 211,976,098 3,157,061,606 309,807,639 57,665,827 31,024,411 13,858,962 10,755,480 908,626,458 4,700,776,481

§à“‡ ◊ËÕ¡√“§“ ”À√—∫ªï

2552 (®”π«π 243 ≈â“π∫“∑ √«¡Õ¬Ÿà„πμâπ∑ÿπ°“√º≈‘μ à«π∑’Ë‡À≈◊Õ√«¡Õ¬Ÿà„π§à“„™â®à“¬„π°“√∫√‘À“√) 263,347,454



In August 2010, Sahagreen Forest Company Limited increased its registered share capital from Baht 5

million (500,000 ordinary shares of Baht 10 each) to Baht 85 million (8.5 million ordinary shares of Baht

10 each). The Company has maintained its shareholding of 75 percent, and has paid up 25 percent of

the par value of the additional shares, totaling Baht 15 million.

9. Property, plant and equipment

(Unit: Baht)

Consolidated financial statements

Furniture,

fixtures and

Power Power plant Tools and office Motor Construction

Land plant improvement Buildings equipment equipment vehicles in progress Total

Cost

31 December 2009 202,654,918 4,651,825,325 327,691,365 67,472,728 67,647,976 65,136,603 22,441,714 458,872,441 5,863,743,070

Acquisition 9,321,180 4,219,230 334,997,540 - 14,041,126 3,647,493 4,359,160 506,425,743 877,011,472

Transfer in (out) - 1,298,000 9,497,030 4,887,706 376,836 246,406 - (16,305,978) -

Disposals - - - - - - (2,675,000) - (2,675,000)

Write-offs - - (327,691,365) - - - - - (327,691,365)

Capitalised interest - - - - - - - 1,224,658 1,224,658

31 December 2010 211,976,098 4,657,342,555 344,494,570 72,360,434 82,065,938 69,030,502 24,125,874 950,216,864 6,411,612,835

Accumulated depreciation

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

Depreciation for the year - 157,328,499 76,441,654 3,081,121 8,401,069 11,063,663 3,065,964 - 259,381,970

Depreciation on disposals - - - - - - (1,000,000) - (1,000,000)

Depreciation on assets written off - - (288,114,258) - - - - - (288,114,258)

31 December 2010 - 1,500,280,949 34,686,931 14,694,607 51,041,527 55,171,540 13,370,394 - 1,669,245,948

Allowance for impairment loss

31 December 2009 - - - - - - - - -

Increase during the year - - - - - - - 41,590,406 41,590,406

31 December 2010 - - - - - - - 41,590,406 41,590,406

Net book value

31 December 2009 202,654,918 3,308,872,875 81,331,830 55,859,242 25,007,518 21,028,726 11,137,284 458,872,441 4,164,764,834

31 December 2010 211,976,098 3,157,061,606 309,807,639 57,665,827 31,024,411 13,858,962 10,755,480 908,626,458 4,700,776,481

Depreciation for the year

2009 (Baht 243 million included in manufacturing cost, and the balance in administrative expenses) 263,347,454



(Àπà«¬: ∫“∑)

ß∫°“√‡ß‘π‡©æ“–°‘®°“√

à«π ‡§√◊ËÕß¡◊Õ ‡§√◊ËÕßμ°·μàß

ª√—∫ª√ÿß ·≈– ·≈–‡§√◊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«“§¡ 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

´◊ÈÕ‡æ‘Ë¡ - 4,219,230 334,997,540 - 1,089,979 1,999,647 3,824,276 6,013,464 352,144,136

‚Õπ‡¢â“ (ÕÕ°) - 1,298,000 9,497,030 - - - - (10,795,030) -

®”Àπà“¬ - - - - - - (2,675,000) - (2,675,000)

μ—¥®”Àπà“¬ - - (327,691,365) - - - - - (327,691,365)

31 ∏—π«“§¡ 2553 104,871,396 4,657,342,555 344,494,570 52,098,708 47,317,797 61,210,577 18,951,382 2,582,108 5,288,869,093

§à“‡ ◊ËÕ¡√“§“ – ¡

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

§à“‡ ◊ËÕ¡√“§“ ”À√—∫ªï - 157,328,499 76,441,654 2,086,468 4,545,457 9,695,334 2,059,174 - 252,156,586

§à“‡ ◊ËÕ¡√“§“ à«π∑’Ë®”Àπà“¬ - - - - - - (1,000,000) - (1,000,000)

§à“‡ ◊ËÕ¡√“§“ à«π∑’Ëμ—¥®”Àπà“¬ - - (288,114,258) - - - - - (288,114,258)

31 ∏—π«“§¡ 2553 - 1,500,280,949 34,686,931 12,235,488 40,702,342 51,365,064 10,319,946 - 1,649,590,720

¡Ÿ≈§à“ ÿ∑∏‘μ“¡∫—≠™’

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

31 ∏—π«“§¡ 2553 104,871,396 3,157,061,606 309,807,639 39,863,220 6,615,455 9,845,513 8,631,436 2,582,108 3,639,278,373

§à“‡ ◊ËÕ¡√“§“ ”À√—∫ªï



∫√‘…—∑ À‚§‡®π °√’π ®”°—¥ ¡’ß“π√–À«à“ß°àÕ √â“ß„π‚§√ß°“√º≈‘μæ≈—ßß“π®“°™’«¡«≈∑’ËÕ”‡¿Õ°∫‘π∑√å∫ÿ√’ ®—ßÀ«—¥

ª√“®’π∫ÿ√’ §ß‡À≈◊Õ ≥ «—π∑’Ë 31 ∏—π«“§¡ 2553 ®”π«πª√–¡“≥ 103 ≈â“π∫“∑ ´÷Ëß§≥–°√√¡°“√¢Õß∫√‘…—∑œ¡’¡μ‘„Àâ

¬°‡≈‘°°“√¥”‡π‘π‚§√ß°“√·≈–ª√–‡¡‘π°“√ ”√Õß¥âÕ¬§à“ ‚¥¬ΩÉ“¬∫√‘À“√¢Õß∫√‘…—∑œ‰¥âæ‘®“√≥“°“√¥âÕ¬§à“¢Õß

‘π∑√—æ¬å·≈–‰¥â∫—π∑÷°°“√¥âÕ¬§à“¢Õß ‘π∑√—æ¬å¥—ß°≈à“«‡ªìπ®”π«πª√–¡“≥ 41.6 ≈â“π∫“∑„πß∫°”‰√¢“¥∑ÿπ„πªï

ªí®®ÿ∫—π ”À√—∫ ‘π∑√—æ¬å à«π∑’Ëª√–¡“≥°“√«à“¡Ÿ≈§à“∑’Ë§“¥«à“®–‰¥â√—∫§◊ππâÕ¬°«à“¡Ÿ≈§à“μ“¡∫—≠™’

≥ «—π∑’Ë 31 ∏—π«“§¡ 2553 ∫√‘…—∑ À‚§‡®π °√’π ®”°—¥ ¡’¬Õ¥§ß‡À≈◊Õ¢Õßß“π√–À«à“ß°àÕ √â“ß‚√ß‰øøÑ“·Ààß„À¡à

∑’Ë®—ßÀ«—¥≈”æŸπ ®”π«πª√–¡“≥ 836.5 ≈â“π∫“∑ ´÷Ëß∫√‘…—∑¬àÕ¬¥—ß°≈à“«‰¥â„™â‡ß‘π°Ÿâ¬◊¡®“° ∂“∫—π°“√‡ß‘π·ÀàßÀπ÷Ëß®”π«π

50 ≈â“π∫“∑ ‡æ◊ËÕ„™â‡ªìπ à«πÀπ÷Ëß„π°“√°àÕ √â“ß‚√ß‰øøÑ“¥—ß°≈à“« „πªïªí®®ÿ∫—π∫√‘…—∑¬àÕ¬‰¥â√«¡μâπ∑ÿπ°“√°Ÿâ¬◊¡¥—ß°≈à“«

∑—ÈßÀ¡¥‡¢â“‡ªìπ√“§“∑ÿπ¢Õß‚§√ß°“√‡ªìπ®”π«π‡ß‘πª√–¡“≥ 1.2 ≈â“π∫“∑

≥ «—π∑’Ë 31 ∏—π«“§¡ 2553 ∫√‘…—∑œ¡’Õÿª°√≥å®”π«πÀπ÷Ëß´÷Ëßμ—¥§à“‡ ◊ËÕ¡√“§“À¡¥·≈â«·μà¬—ß„™âß“πÕ¬Ÿà ¡Ÿ≈§à“μ“¡∫—≠™’

°àÕπÀ—°§à“‡ ◊ËÕ¡√“§“ – ¡¢Õß ‘π∑√—æ¬å¥—ß°≈à“«¡’®”π«π‡ß‘πª√–¡“≥ 51.0 ≈â“π∫“∑ (2552: ®”π«π 36.6 ≈â“π∫“∑)

(ß∫°“√‡ß‘π‡©æ“–∫√‘…—∑œ 50.6 ≈â“π∫“∑ 2552: ®”π«π 36.6 ≈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


(Unit: Baht)


Furniture,

fixtures and

Power Power plant Tools and office Motor Construction

Land plant improvement Buildings equipment equipment vehicles in progress Total

Cost

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

Acquisition - 4,219,230 334,997,540 - 1,089,979 1,999,647 3,824,276 6,013,464 352,144,136

Transfer in (out) - 1,298,000 9,497,030 - - - - (10,795,030) -

Disposals - - - - - - (2,675,000) - (2,675,000)

Write-offs - - (327,691,365) - - - - - (327,691,365)

31 December 2010 104,871,396 4,657,342,555 344,494,570 52,098,708 47,317,797 61,210,577 18,951,382 2,582,108 5,288,869,093

Accumulated depreciation

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

Depreciation for the year - 157,328,499 76,441,654 2,086,468 4,545,457 9,695,334 2,059,174 - 252,156,586

Depreciation on disposals - - - - - - (1,000,000) - (1,000,000)

Depreciation on assets written off - - (288,114,258) - - - - - (288,114,258)

31 December 2010 - 1,500,280,949 34,686,931 12,235,488 40,702,342 51,365,064 10,319,946 - 1,649,590,720

Net book value

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

31 December 2010 104,871,396 3,157,061,606 309,807,639 39,863,220 6,615,455 9,845,513 8,631,436 2,582,108 3,639,278,373

Depreciation for the year



As at 31 December 2010, Sahacogen Green Company Limited had an outstanding balance of work under

construction of approximately Baht 103 million, in respect of the Biomass Power Plant Project in Amphur

Kabinburi, Prachinburi province. The Board of Directors of the Company passed a resolution to

discontinue the project and assess allowance for impairment. Management of the Company has

considered the impairment of the project assets and recorded allowance of approximately Baht 41.6

million in the current yearûs income statement for assets of which the recoverable amount was estimated

to be less than the net book value.

As at 31 December 2010, Sahacogen Green Company Limited had an outstanding balance of work under

construction of approximately Baht 836.5 million in respect of a new power plant in Lumphoon province.

Construction of the power plant has been partially financed with a loan amounting to Baht 50 million from

a financial institution and total borrowing costs of approximately Baht 1.2 million were capitalised during

the current year.

As at 31 December 2010, certain plant and equipment items have been fully depreciated but are still in

use. The gross carrying amount (before deducting accumulated depreciation) of those assets amounted

to approximately Baht 51.0 million (2009: Baht 36.6 million) (The Company only: Baht 50.6 million, 2009:

Baht 36.6 million).

All of the land, power plant and buildings of the Company and a subsidiaryûs land with structures thereon

have been mortgaged as collateral for credit facilities granted by a commercial bank as stated in Note 11

to the financial statements.


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“¬

11. ‡ß‘π°Ÿâ¬◊¡√–¬–¬“«

(Àπà«¬: ∫“∑)

ß∫°“√‡ß‘π√«¡ ß∫°“√‡ß‘π‡©æ“–°‘®°“√

‡ß‘π°Ÿâ Õ—μ√“¥Õ°‡∫’È¬ (√âÕ¬≈–) ‡ß◊ËÕπ‰¢°“√™”√–§◊π 2553 2552 2553 2552

1 √âÕ¬≈– 4.375 μàÕªï μ—Èß·μà‡¥◊Õπ ™”√–§◊π‡ªìπ√“¬ß«¥∑ÿ°§√÷Ëßªïμ—Èß·μà

æƒ…¿“§¡ 2552 ®π∂÷ß‡¥◊Õπ ‡¥◊Õπ∏—π«“§¡ 2546 ®π∂÷ß‡¥◊Õπ

‡¡…“¬π 2554 ·≈– MLR ¡‘∂ÿπ“¬π 2559

≈∫√âÕ¬≈– 1.5 μàÕªï μ—Èß·μà‡¥◊Õπ

æƒ…¿“§¡ 2554 ®π§√∫°”Àπ¥

Õ“¬ÿ —≠≠“ 1,801,900,000 1,851,900,000 1,801,900,000 1,851,900,000

2 √âÕ¬≈– 4.375 μàÕªï μ—Èß·μà‡¥◊Õπ ™”√–§◊π‡ªìπ√“¬ß«¥∑ÿ°§√÷Ëßªïμ—Èß·μà

æƒ…¿“§¡ 2552 ®π∂÷ß‡¥◊Õπ ‡¥◊Õπ¡‘∂ÿπ“¬π 2549 ®π∂÷ß‡¥◊Õπ

‡¡…“¬π 2554 ·≈– MLR ∏—π«“§¡ 2559

≈∫√âÕ¬≈– 1.5 μàÕªï μ—Èß·μà‡¥◊Õπ

æƒ…¿“§¡ 2554 ®π§√∫°”Àπ¥

Õ“¬ÿ —≠≠“ 635,200,000 665,200,000 635,200,000 665,200,000

3 √âÕ¬≈– MLR ≈∫Õ—μ√“§ß∑’Ëμ“¡∑’Ë ™”√–§◊π‡ªìπ√“¬ß«¥∑ÿ°§√÷Ëßªïμ—Èß·μà

√–∫ÿ„π —≠≠“ ‡¥◊Õπ¡‘∂ÿπ“¬π 2554 ®π∂÷ß‡¥◊Õπ

∏—π«“§¡ 2563 480,000,000 90,000,000 480,000,000 90,000,000

4 √âÕ¬≈– 3 μàÕªï ™”√–§◊π‡ªìπ√“¬ß«¥∑ÿ°§√÷Ëßªïμ—Èß·μà

‡¥◊Õπ¡‘∂ÿπ“¬π 2554 ®π∂÷ß

‡¥◊Õπ∏—π«“§¡ 2559 50,000,000 - - -

√«¡ 2,967,100,000 2,607,100,000 2,917,100,000 2,607,100,000

À—°: à«π∑’Ë∂÷ß°”Àπ¥™”√–¿“¬„πÀπ÷Ëßªï (538,333,333) (80,000,000) (530,000,000) (80,000,000)

‡ß‘π°Ÿâ¬◊¡√–¬–¬“« - ÿ∑∏‘®“° à«π∑’Ë∂÷ß°”Àπ¥™”√–¿“¬„πÀπ÷Ëßªï 2,428,766,667 2,527,100,000 2,387,100,000 2,527,100,000

—≠≠“‡ß‘π°Ÿâ¬◊¡¡’¢âÕ®”°—¥À≈“¬ª√–°“√ ÷Ëß∫√‘…—∑œμâÕßªØ‘∫—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«“§¡ 2553 ∫√‘…—∑œ¡’«ß‡ß‘π°Ÿâ¬◊¡√–¬–¬“«μ“¡ —≠≠“‡ß‘π°Ÿâ∑’Ë¬—ß¡‘‰¥â‡∫‘°„™â‡ªìπ®”π«π 120 ≈â“π∫“∑


10. Project cost of energy plant farming

The subsidiary of the Company incurred costs of an energy plant farming project, which comprise costs

of land improvement, seedlings, and planting, which were incurred before the energy plant can be

harvested for use. Such expenditures 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.

11. Long-term loans

(Unit: Baht)



Loans Interest rate (%) Repayment conditions 2010 2009 2010 2009

1 4.375% per annum from semi-annual installments from

May 2009 until April 2011, December 2003 to

and MLR minus 1.5% per June 2016

annum from May 2011 until

the final maturity date of the

agreement. 1,801,900,000 1,851,900,000 1,801,900,00 1,851,900,000

2 4.375% per annum from May semi-annual installments from

2009 until April 2011, and June 2006 to December 2016

MLR minus 1.5% per annum

from May 2011 until the final

maturity date of the agreement. 635,200,000 665,200,000 635,200,000 665,200,000

3 MLR minus a fixed percentage semi-annual installments from

specified in the agreement June 2011 to December 2020 480,000,000 90,000,000 480,000,000 90,000,000

4 3% per annum semi-annual installments from

June 2011 to December 2016 50,000,000 - - -

Total 2,967,100,000 2,607,100,000 2,917,100,000 2,607,100,000

Less: Current portion of long-term loans (538,333,333) (80,000,000) (530,000,000) (80,000,000)

Long-term loans - net of current portion 2,428,766,667 2,527,100,000 2,387,100,000 2,527,100,000

The loan agreements contain various covenants relating to the maintenance of financial ratios and the

payment of 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 2010, the long-term credit facilities of the Company which have yet to be drawn

down amounted to Baht 120 million.


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“–°‘®°“√

2553 2552 2553 2552

§à“‡™◊ÈÕ‡æ≈‘ß·≈–æ≈—ßß“π 2,050,577,350 2,038,594,098 2,050,577,350 2,038,594,098

§à“‡ ◊ËÕ¡√“§“ 259,381,970 263,347,454 252,156,586 257,057,527

§à“∫”√ÿß√—°…“·≈–´àÕ¡·´¡‚√ß‰øøÑ“ 74,944,799 87,240,695 74,944,799 87,240,695

§à“∫√‘°“√®—¥°“√‚√ß‰øøÑ“ 75,033,700 73,431,351 75,033,700 73,431,351

§à“‡™à“®à“¬ 76,905,958 78,431,213 76,309,257 78,062,380

‡ß‘π‡¥◊Õπ·≈–º≈ª√–‚¬™πåÕ◊Ëπ¢Õßæπ—°ß“π 47,502,296 38,064,429 40,566,637 33,101,097

§à“‡∫’È¬ª√–°—π¿—¬ 24,519,184 19,789,007 24,173,034 19,442,028

§à“μ—¥®”Àπà“¬Õÿª°√≥å 39,577,107 - 39,577,107 -

¢“¥∑ÿπ®“°°“√¥âÕ¬§à“¢Õß ‘π∑√—æ¬å 41,590,406 - - -

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«¬ ”√Õß·≈–§à“„™â®à“¬μà“ß Ê ∑’Ë‰¡àÕπÿ≠“μ„Àâ∂◊Õ‡ªìπ√“¬®à“¬„π°“√§”π«≥¿“…’ √“¬°“√ ”√Õß¥—ß°≈à“«®–∂◊Õ‡ªìπ√“¬

®à“¬„π°“√§”π«≥¿“…’„πªï∑’Ë‡°‘¥¢÷Èπ®√‘ß

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 ·≈–‡≈¢∑’Ë 1403(1)/2544

‰¥â ‘Èπ ÿ¥≈ß·≈â«‡¡◊ËÕ«—π∑’Ë 16 ¡’π“§¡ 2550 ·≈–«—π∑’Ë 18 æƒ»®‘°“¬π 2553 μ“¡≈”¥—∫

∫√‘…—∑¬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 ªïπ—∫·μà«—π∑’Ë‡√‘Ë¡¡’√“¬‰¥â®“°°“√ª√–°Õ∫°‘®°“√π—Èπ ≥ «—π∑’Ë„πß∫¥ÿ≈ ∫√‘…—∑¬àÕ¬¬—ß¡‘‰¥â¡’√“¬‰¥â

®“°°“√ª√–°Õ∫°‘®°“√¥—ß°≈à“«


12. Statutory reserve

Pursuant to Section 116 of the Public Limited Companies Act B.E. 2535, the Company is required to set

aside to a 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 dividend distribution.

13. Expenses by nature

Significant expenses by nature are as follow:

(Unit: Baht)



2010 2009 2010 2009

Fuel and energy costs 2,050,577,350 2,038,594,098 2,050,577,350 2,038,594,098

Depreciation 259,381,970 263,347,454 252,156,586 257,057,527

Plant maintenance and repairing costs 74,944,799 87,240,695 74,944,799 87,240,695

Operation services of the power plant 75,033,700 73,431,351 75,033,700 73,431,351

Rental expenses 76,905,958 78,431,213 76,309,257 78,062,380

Salary and other employee benefits 47,502,296 38,064,429 40,566,637 33,101,097

Insurance expenses 24,519,184 19,789,007 24,173,034 19,442,028

Written-off equipment 39,577,107 - 39,577,107 -

Impairment loss on assets 41,590,406 - - -

14. Corporate income tax

Corporate income tax for the year is calculated on income before income tax from operations not granted

BOI promotional privileges, after adding back provisions and certain expenses which are disallowable for

tax computation purposes. For tax purposes, provisions are treated as expenses when loss is actually

incurred.

15. Promotional privileges

The Company has received promotional privileges from the Board of Investment for the production of

electricity and steam, pursuant to the promotion certificate No. 1697/2540, 1403(1)/2544 and 1434(2)/

2547. Subject to certain imposed condition, the privileges include an exemption from corporate income

tax for a period of 8 years from the date the promoted activity commenced generating revenues (17

March 1999, 19 November 2002 and 21 April 2005, respectively).

The corporate income tax privileges of the certificate No.1697/2540 and 1403(1)/2544 were expired on 16

March 2007 and 18 November 2010, respectively.

Its subsidiary has received promotional privileges from the Board of Investment for the production of

electricity and steam, pursuant to the promotion certificate No. 1414(9)/2550 and 1563(1)/2552. Subject to

certain imposed condition, the privileges include an exemption from corporate income tax for a period of

8 years from the date the promoted activity commenced generating revenues. As at the balance sheet

date, the subsidiary has not generated revenues from the promoted activity.


√“¬‰¥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‡ √‘¡ √«¡

2553 2552 2553 2552 2553 2552

√“¬‰¥â®“°°“√¢“¬ 1,204,364 1,304,740 1,923,158 1,737,124 3,127,522 3,041,864

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“π

μ“¡√–‡∫’¬∫«à“¥â«¬°Õß∑ÿπ¢Õß∫√‘…—∑œ „π√–À«à“ßªï 2553 ∫√‘…—∑œ·≈–∫√‘…—∑¬àÕ¬‰¥â®à“¬‡ß‘π ¡∑∫°Õß∑ÿπ‡ªìπ

®”π«π‡ß‘π 1,165,856 ∫“∑ (2552: ®”π«π 1,102,011 ∫“∑)

19. ‡ß‘πªíπº≈®à“¬

Õπÿ¡—μ‘‚¥¬ √«¡‡ß‘πªíπº≈ ‡ß‘πªíπº≈μàÕÀÿâπ

≈â“π∫“∑ ∫“∑

‡ß‘πªíπº≈ª√–®”ªï 2552 ∑’Ëª√–™ÿ¡„À≠à “¡—≠ºŸâ∂◊ÕÀÿâπ‡¡◊ËÕ«—π∑’Ë 27 ‡¡…“¬π 2553 162.35 0.17

√«¡‡ß‘πªíπº≈®à“¬„πªï 2553 162.35 0.17

‡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

20. ¿“√–ºŸ°æ—π

20.1 —≠≠“¢“¬‰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


Revenues of the Company for the years are below divided between BOI promoted activities and non-BOI

promoted activities.

(Unit: Thousand Baht)

BOI promoted Non-BOI promoted Total

2010 2009 2010 2009 2010 2009

Sales 1,204,364 1,304,740 1,923,158 1,737,124 3,127,522 3,041,864

16. Earnings per share

Basic earnings per share is calculated by dividing net income for the year by the weighted average

number of ordinary shares in issue during the year.

17. Financial information by segment

The Companyûs operations involve a single business segment in manufacturing and distributing of

electricity and steam and are carried on in the single geographic area of Thailand. As a result, all of the

revenues, operating profits and assets reflected in these financial statements pertain to the

aforementioned business segment and geographic area.

18. Provident fund

The Company and its employees have jointly established a provident fund in accordance with the

Provident Fund Act B.E. 2530. Both employees and the Company contributed to the fund monthly at the

rate of 3 percent of basic salary. The fund, which is managed by BankThai Public Company Limited, will

be paid to employees upon termination in accordance with the fund rules. During the year 2010, the

Company and its subsidiary contributed Baht 1,165,856 (2009: Baht 1,102,011) to the fund.

19. Dividend paid

Approved by Total Dividend

dividends per share

Million Baht Baht

Final dividend for 2009 Annual General Meeting of the shareholders on 27 April 2010 162.35 0.17

Total dividend paid in 2010 162.35 0.17

Final dividend for 2008 Annual General Meeting of the shareholders on 28 April 2009 143.25 0.15

Total dividend paid in 2009 143.25 0.15

20. Commitments

20.1 Electricity Sales Agreements

On 19 December 1997 the Company entered into an agreement with the Electricity Generating

Authority of Thailand (EGAT) to sell electricity in a specified quantity and at a stipulated price as

defined in the agreement. The agreement period is 25 years and will expire in April 2024.


„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

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®—°√

„πªï 2548 ∫√‘…—∑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


In March 2009, Sahacogen Green Company Limited entered into an agreement with the Provincial

Electricity Authority (PEA) to sell electricity in a specified quantity and at a stipulated price as

defined in the agreement. The subsidiary agreed to start selling electricity to PEA within July 2010.

The agreement is for 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

Provincial Electricity Authority (PEA) to sell electricity in a specified quantity and at a stipulated price

as defined in the agreement. The subsidiary agreed to start selling electricity to PEA within August

2012. The agreement is for a period of 5 years, starting from 10 September 2009, and will

automatically renew every 5 years until termination.

20.2 Electricity and Steam Sales Agreements

In 1997, the Company entered into agreements with Saha Pathana Inter-Holding Public Company

Limited to sell 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 Agreement

Under an agreement with the PTT Public Company Limited (çPTTé), the Company is committed to

purchase natural gas from PTT in a specified quantity and at a stipulated price as defined in the

agreement for a period of 21 years. The agreement will expire in March 2020, however it contains

an option to renew for an additional period of 4 years.

20.4 Operation and Service Management Agreement

In 2006, the Company entered into an agreement with Operational Energy Group Limited under

which the affiliate 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 expired on 31 December 2011.

20.5 Raw Water Purchase Agreement

Under an agreement with a private entity, the Company is committed to purchase raw water in a

specified quantity and at a stipulated price as defined in the agreement for a period of 25 years.

The agreement will expire in March 2024.

20.6 Land Rental Agreements

The Company entered into a land rental agreement with Sinparadorn Company Limited to rent 4,800

square meters 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 Limited to rent 27.55 rais of land for 13 years, which was effective from 1 April 2007 to

31 March 2020 at a monthly rental rate of Baht 434,192. However, the Company requested Saha

Pathana Inter-Holding Public Company Limited to waive the rental fee since October 2007.

20.7 Machinery Lease Agreement

In 2005, the Company entered into a machinery lease agreement with Operational Energy Group

Limited under which the affiliate will provide replacement machinery if the Companyûs machinery is

temporarily out-of-order. Rental is charged at the rates stipulated in the agreement, which expires on

30 June 2016.


20.8 —≠≠“´◊ÈÕ¢“¬‡™◊ÈÕ‡æ≈‘ß™’«¡«≈

„πªï 2553 ∫√‘…—∑ À°√’π øÕ‡√ ∑å ®”°—¥ ‰¥â∑” —≠≠“´◊ÈÕ‡™◊ÈÕ‡æ≈‘ß™’«¡«≈°—∫∫√‘…—∑ ¬“¡øÕ‡√ ∑√’ ®”°—¥

μ“¡®”π«π·≈–√“§“∑’Ë°”Àπ¥‰«â„π —≠≠“ ‚¥¬®–‡√‘Ë¡ àß¡Õ∫„π‡¥◊Õπ ‘ßÀ“§¡ 2555 —≠≠“¥—ß°≈à“«¡’º≈μ—Èß·μà

«—π∑’Ë 21 ‘ßÀ“§¡ 2553 ®π°«à“®–¡’°“√¬ÿμ‘ —≠≠“

20.9 Àπ—ß ◊Õ§È”ª√–°—π∏π“§“√

≥ «—π∑’Ë 31 ∏—π«“§¡ 2553 ¡’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 19 ≈â“π∫“∑

20.10 √“¬®à“¬ΩÉ“¬∑ÿπ

≥ «—π∑’Ë 31 ∏—π«“§¡ 2553 ∫√‘…—∑¬àÕ¬¡’¿“√–ºŸ°æ—π√“¬®à“¬ΩÉ“¬∑ÿπ‡°’Ë¬«°—∫°“√°àÕ √â“ß‚√ß‰øøÑ“‡ªìπ®”π«π‡ß‘π

ª√–¡“≥ 11.3 ≈â“π∫“∑

21. ‡§√◊ËÕß¡◊Õ∑“ß°“√‡ß‘π

21.1 π‚¬∫“¬°“√∫√‘À“√§«“¡‡ ’Ë¬ß

‡§√◊ËÕß¡◊Õ∑“ß°“√‡ß‘π∑’Ë ”§—≠¢Õß∫√‘…—∑œμ“¡∑’Ëπ‘¬“¡Õ¬Ÿà„π¡“μ√∞“π°“√∫—≠™’©∫—∫∑’Ë 107 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«π

πâÕ¬√“¬ 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·≈–∫√‘…—∑¬àÕ¬¡’§«“¡‡ ’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≈ß

μ“¡Õ—μ√“μ≈“¥ À√◊Õ¡’Õ—μ√“¥Õ°‡∫’È¬§ß∑’Ë´÷Ëß„°≈â‡§’¬ß°—∫Õ—μ√“μ≈“¥„πªí®®ÿ∫—π ∫√‘…—∑œ·≈–∫√‘…—∑¬àÕ¬®÷ß¡‘‰¥â„™â

μ√“ “√Õπÿæ—π∏å‡æ◊ËÕ∫√‘À“√§«“¡‡ ’Ë¬ß®“°Õ—μ√“¥Õ°‡∫’È¬¥—ß°≈à“« √“¬≈–‡Õ’¬¥¢Õß‡ß‘π°Ÿâ¬◊¡√–¬–¬“«· ¥ß‰«â„π

À¡“¬‡Àμÿª√–°Õ∫ß∫°“√‡ß‘π¢âÕ 11

§«“¡‡ ’Ë¬ß®“°Õ—μ√“·≈°‡ª≈’Ë¬π

∫√‘…—∑œ·≈–∫√‘…—∑¬àÕ¬¡’§«“¡‡ ’Ë¬ß®“°Õ—μ√“·≈°‡ª≈’Ë¬π„π√–¥—∫μË”‡π◊ËÕß®“°√“¬°“√∑“ß∏ÿ√°‘®‚¥¬ à«π„À≠à

‡ªìπ °ÿ≈‡ß‘π∫“∑ Õ¬à“ß‰√°Á¥’ ≥ «—π∑’Ë 31 ∏—π«“§¡ 2553 ∫√‘…—∑¬àÕ¬¡’‡®â“Àπ’È‡ß‘πª√–°—πº≈ß“π∑’Ë‡ªìπ °ÿ≈‡ß‘πμ√“

μà“ßª√–‡∑»®”π«πª√–¡“≥ 1.3 ≈â“π‡À√’¬≠ À√—∞Õ‡¡√‘°“ ´÷Ëß‰¡à‰¥â¡’°“√∑” —≠≠“ªÑÕß°—π§«“¡‡ ’Ë¬ß¥â“πÕ—μ√“

·≈°‡ª≈’Ë¬π‰«â Õ—μ√“·≈°‡ª≈’Ë¬π‡©≈’Ë¬ ≥ «—π∑’Ë 31 ∏—π«“§¡ 2553 ‡∑à“°—∫ 30.10 ∫“∑μàÕ‡À√’¬≠ À√—∞Õ‡¡√‘°“


20.8 Biomass Fuel Purchase Agreement

In 2010, Sahagreen Forest Company Limited entered into a biomass fuel purchase agreement with

Siam Forestry Company Limited to purchase specified quantities at stipulated prices defined in the

agreement, with delivery to start in August 2012. The agreement is effective from 21 August 2010

until termination.

20.9 Bank guarantees

As at 31 December 2010, there were outstanding bank guarantee of approximately Baht 163 million

issued by a bank on behalf of the Company in respect of certain performance bonds as required

under the Power Sales Agreement with the Electricity Generating Authority of Thailand (EGAT). There

were also other guarantees issued by a bank on behalf of the Company and its subsidiary totaling

Baht 19 million.

20.10 Capital commitments

As at 31 December 2010, its subsidiary had outstanding capital commitments in respect of

construction of power plant of approximately Baht 11.3 million.

21. Financial instruments

21.1 Financial risk management

The Companyûs financial instruments, as defined under Thai Accounting Standard No.107 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 they are managed is described below.

Credit risk

The Company is exposed to credit risk primarily with respect to trade accounts receivable since the

majority of 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 risk

The Company and its subsidiaryûs exposure to interest rate risk relates primarily to its cash at

financial institutions and long-term borrowings which are subject to interest. However, because most

of the financial assets and financial liabilities have floating interest rates which fluctuate in line with

market interest rates or fixed interest rates which approximate the current market interest rate,

the Company and its subsidiary do not use derivatives to manage its interest rate risk. Details of

long-term loans from financial institutions are set out in Notes to the financial statements No.11.

Foreign currency risk

The Companyûs exposure to foreign currency risk is limited since nearly all business transactions are

denominated in Thai Baht. However, as at 31 December 2010 its subsidiary has retention payables

of approximately USD 1.3 million which are unhedged against exchange rate risk. The average

exchange rate as at 31 December 2010 was 30.10 Baht per 1 USD.


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≈

¡Ÿ≈§à“¬ÿμ‘∏√√¡ À¡“¬∂÷ß ®”π«π‡ß‘π∑’ËºŸâ´◊ÈÕ·≈–ºŸâ¢“¬μ°≈ß·≈°‡ª≈’Ë¬π ‘π∑√—æ¬å°—π„π¢≥–∑’Ë∑—Èß ÕßΩÉ“¬¡’§«“¡

√Õ∫√Ÿâ ·≈–‡μÁ¡„®„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«“§¡ 2553 °≈ÿà¡∫√‘…—∑¡’Õ—μ√“ à«πÀπ’È ‘πμàÕ∑ÿπ‡∑à“°—∫ 1.6:1 (2552: 1.5:1) ·≈–∫√‘…—∑œ¡’

Õ—μ√“ à«π‡∑à“°—∫ 1.5:1 (2552: 1.4:1)

23. °“√Õπÿ¡—μ‘ß∫°“√‡ß‘π

ß∫°“√‡ß‘ππ’È ‰¥â√—∫Õπÿ¡—μ‘„ÀâÕÕ°‚¥¬§≥–°√√¡°“√∫√‘…—∑œ‡¡◊ËÕ«—π∑’Ë 25 °ÿ¡¿“æ—π∏å 2554


21.2 Fair values of financial instruments

Since 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 of the financial instrument or by using an appropriate valuation

technique, depending on the nature of the instrument.

22. Capital management

The primary objective of the Companyûs capital management is to ensure that it has an appropriate

financial structure and preserves the ability to continue its business as a going concern.

According to the balance sheet as at 31 December 2010, the Group's debt-to-equity ratio was 1.6:1

(2009: 1.5:1) and the Company's was 1.5:1 (2009: 1.4:1).

23. Approval of financial statements

These financial statements were authorised for issue by the Companyûs Board of Directors on

25 February 2011.


§≥–°√√¡°“√ The Board of Director

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

π“¬∫ÿ≥¬ ‘∑∏‘Ï ‚™§«—≤π“ °√√¡°“√

Mr. Boonsithi Chokwatana Director

æ≈‡√◊Õ‡Õ° Õπÿ™‘μ ‡¿°–π—π∑πå ª√–∏“π∑’Ëª√÷°…“§≥–°√√¡°“√ Admiral Anuchit Bekanan

Chairman of Advisory Committee

π“¬∫ÿ≠ƒ∑∏‘Ï ¡À“¡πμ√’ °√√¡°“√Õ‘ √– Mr. Boonyarith Mahamontri Independent Director

π“¬«‘‚√®πå ∏’√«—≤πå«“∑’ °√√¡°“√ºŸâ®—¥°“√·≈–°√√¡°“√∫√‘À“√ Mr. Viroj Theeravatvatee Managing Director and Executive Director

π“¬∑πß »√’®‘μ√å °√√¡°“√·≈–°√√¡°“√∫√‘À“√

Mr. Tanong Srichit Director and Executive Director

π“¬ —πμ‘ «‘≈“ »—°¥“ππ∑å °√√¡°“√

Mr. Santi Vilassakdanont Director


π“¬∏’√–»—°¥‘Ï «‘°‘μ‡»√…∞å °√√¡°“√·≈–ª√–∏“π°√√¡°“√∫√‘À“√ Mr. Thirasak Vikitset Director and Chairman of Executive Director

π“¬πææ√ æß…å‡«™ °√√¡°“√Õ‘ √–·≈–ª√–∏“π°√√¡°“√μ√«® Õ∫

Mr. Nophorn Bhongsvej Independent Director and Chairman of Audit Committee

π“¬ ÿ®√‘μ ªí®©‘¡π—π∑å °√√¡°“√·≈–°√√¡°“√∫√‘À“√ Mr. Sujarit Patchimnun Director and Executive Director

æ≈μ”√«®‡Õ° ¡™“¬ ª√–¿— ¿—°¥’ °√√¡°“√Õ‘ √–·≈–°√√¡°“√μ√«® Õ∫ Pol. Gen. Somchai Prabhasabhakdi

Independent Director and Audit Committee

π“¬Õ—μ∂°√ °≈—Ëπ§«“¡¥’ °√√¡°“√·≈–°√√¡°“√∫√‘À“√ Mr. Atthakorn Glankwamdee Director and Executive Director

π“¬Õ¡√ Õ—»«“π—π∑å °√√¡°“√Õ‘ √–·≈–°√√¡°“√μ√«® Õ∫

Mr. Amorn Asvanunt Independent Director and Audit Committee

π“¬ ÿ√ß§å Õß§å‚¶…‘μ °√√¡°“√Õ‘ √–·≈–°√√¡°“√μ√«® Õ∫

Mr. Surong Ongkosit Independent Director and Audit Committee

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

pany Limited

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ºŸâ∫√‘À“√

ª√–«—μ‘§≥–°√√¡°“√

143This annual report is printed on Green Series paper m

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Eco Fiber

1. Mr. Boonkiet Chokwatana 63 l Honorary Doctorate Degree in Business 1.19 Brothers 2006 - Present Director Thailand Securities Depository

ë Chairman Administration (Management), Company Limited

l Chairman of the Sripratum University 2008 - Present Director Thai Listed Companies Association

Nominating and l Honorary Doctorate in Business

Remuneration Committee Administration College of Commerce, Listed Companies

l Authorized Director Burapha University 1980 - 2006 President I.C.C. International PLC.

l B.S. Mechanical Engineering 1996 - 2008 Director Sahacogen (Chonburi) PLC.

- Worcester Polytechnic Institute, 1973 - Present Director O.C.C. PLC.

Massachusetts, USA 1986 - Present Director Saha Pathana Inter-Holding PLC.

ë Director Accreditation Program (DAP) 1993 - Present Chairman S&J International Enterprises PLC.

3/2003 1994 - Present Chairman Peopleûs Garment PLC.

ë Director Certification Program (DCP) 2007 - Present President & Executive Director I.C.C. International PLC.

41/2004 Thai Institute of Directors

Association Other Companies 38

(non Listed Companies)

Competitive Business related -None-

to Companyûs Business

Remark : * Including shares helding by the spouse and minor children.

*Shares Family Past 5 years experiences

Name / Position

Age Education

hold Relationship

(%) Between period Position Company Name

directors

The Board of Directors


pany Limited



Õ“¬ÿ §ÿ≥«ÿ≤‘∑“ß°“√»÷°…“

∂◊ÕÀÿâπ„π ∑“ß§√Õ∫§√—«



2. π“¬∫ÿ≥¬ ‘∑∏‘Ï ‚™§«—≤π“ 73 l ª√‘≠≠“∫√‘À“√∏ÿ√°‘®¥ÿ…Æ’∫—≥±‘μ°‘μμ‘¡»—°¥‘Ï 1.73 æ’Ë™“¬ ∫√‘…—∑®¥∑–‡∫’¬π

l °√√¡°“√ “¢“∫√‘À“√∏ÿ√°‘® π“¬∫ÿ≠‡°’¬√μ‘ 2515 - ªí®®ÿ∫—π ª√–∏“π°√√¡°“√ ∫√‘…—∑ ‰∑¬‡æ√ ‘‡¥π∑åøŸ¥ å ®”°—¥ (¡À“™π)

l °√√¡°“√ºŸâ¡’Õ”π“®≈ßπ“¡ ¡À“«‘∑¬“≈—¬∫Ÿ√æ“ ‚™§«—≤π“ 2518 - ªí®®ÿ∫—π °√√¡°“√∑’Ëª√÷°…“ ∫√‘…—∑ ∏πŸ≈—°…≥å ®”°—¥ (¡À“™π)

ºŸ°æ—π∫√‘…—∑ ¡À“«‘∑¬“≈—¬∏√√¡»“ μ√å ª√–∏“π 2538 - ªí®®ÿ∫—π √Õßª√–∏“π°√√¡°“√ ∫√‘…—∑ ‰Õ. ’.´’. Õ‘π‡μÕ√å‡π™—Ëπ·π≈ ®”°—¥ (¡À“™π)

∂“∫—π∫—≥±‘μ æ—≤π∫√‘À“√»“ μ√å °√√¡°“√ 2547 - ªí®®ÿ∫—π °√√¡°“√·≈–ª√–∏“π°√√¡°“√ ∫√‘…—∑ Àæ—≤π“Õ‘π‡μÕ√å‚Œ≈¥‘Èß®”°—¥ (¡À“™π)

¡À“«‘∑¬“≈—¬ÀÕ°“√§â“‰∑¬ ∫√‘À“√

l ª√‘≠≠“∫√‘À“√∏ÿ√°‘®¥ÿ…Æ’∫—≥±‘μ°‘μμ‘¡»—°¥‘Ï 2550 - ªí®®ÿ∫—π ª√–∏“π°√√¡°“√ √√À“·≈–

“¢“«‘»«°√√¡»“ μ√å ¡À“«‘∑¬“≈—¬¢Õπ·°àπ °”Àπ¥§à“μÕ∫·∑π

l ª√‘≠≠“∫√‘À“√∏ÿ√°‘®¥ÿ…Æ’∫—≥±‘μ°‘μμ‘¡»—°¥‘Ï 2553 - ªí®®ÿ∫—π ª√–∏“π°√√¡°“√°‘μμ‘¡»—°¥‘Ï ∫√‘…—∑ Àæ—≤πæ‘∫Ÿ≈ (¡À“™π)

“¢“°ÆÀ¡“¬¡À“«‘∑¬“≈—¬«“‡´¥–

l Director Accreditation Program (DAP) °‘®°“√Õ◊Ëπ (∑’Ë‰¡à„™à∫√‘…—∑®¥∑–‡∫’¬π) ®”π«π 35 ·Ààß

√ÿàπ 3/2003 °‘®°“√∑’Ë·¢àß¢—π°—∫∏ÿ√°‘®¢Õß∫√‘…—∑ -‰¡à¡’-

l Director Certification Program (DCP)

√ÿàπ 68/2005

®“° ¡“§¡ àß‡ √‘¡ ∂“∫—π°√√¡°“√

∫√‘…—∑‰∑¬ (IOD)

3. π“¬∏’√–»—°¥‘Ï «‘°‘μ‡»√…∞å 59 l ª√‘≠≠“‚∑ “¢“∫√‘À“√∏ÿ√°‘® 0.21 -‰¡à¡’- ∫√‘…—∑®¥∑–‡∫’¬π

l °√√¡°“√ Clark University : Worcester, 2528 - ªí®®ÿ∫—π °√√¡°“√ºŸâ®—¥°“√·≈– ∫√‘…—∑ ‡Õ ·Õπ¥å ‡® Õ‘π‡μÕ√å‡π™—Ëπ·π≈

l ª√–∏“π°√√¡°“√∫√‘À“√ Massachusetts, ª√–‡∑» À√—∞Õ‡¡√‘°“ ª√–∏“π°√√¡°“√∫√‘À“√ ‡Õπ‡μÕ√å‰æ√ å ®”°—¥ (¡À“™π)

l °√√¡°“√ √√À“·≈– l ª√‘≠≠“μ√’«‘»«°√√¡»“ μ√å “¢“

°”Àπ¥§à“μÕ∫·∑π «‘»«°√√¡‡§¡’ ∂“∫—π«Ÿ√å ‡μÕ√å‚æ≈’‡∑§π‘§ °‘®°“√Õ◊Ëπ (∑’Ë‰¡à„™à∫√‘…—∑®¥∑–‡∫’¬π) ®”π«π 11 ·Ààß

l °√√¡°“√ºŸâ¡’Õ”π“®≈ßπ“¡ √—∞·¡ ´“™Ÿ‡´∑ å ª√–‡∑» À√—∞Õ‡¡√‘°“ °‘®°“√∑’Ë·¢àß¢—π°—∫∏ÿ√°‘®¢Õß∫√‘…—∑ -‰¡à¡’-

ºŸ°æ—π∫√‘…—∑ l Director Accreditation Program (DAP)

√ÿàπ 3/2003


√ÿàπ 68/2005

®“° ¡“§¡ àß‡ √‘¡ ∂“∫—π°√√¡°“√

∫√‘…—∑‰∑¬ (IOD)



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2. Mr. Boonsithi Chokwatana 73 ë The Honorary Doctorate Degree in 1.73 Brothers Listed Companies

ë Director Business Administration, 1972 - Present Chairman Thai President Foods PLC.

l Authorized Director 1. Burapha University 1980 - Present Advising Director Thanulux PLC.

2. Thammasat University 1995 - Present Vice Chairman I.C.C. International PLC.

3. National Institution 2004 - Present Director and Chairman Saha Pathana Inter-Holding PLC.

of Development Administration of Executive Board

4. University of the Thai Chamber 2007- Present Chairman of Nominating and

of Commerce Remuneration Committee

ë The Honorary Doctorate Degree in 2010 - Present Honorary Chairman Saha Pathanapibul PLC

Engineering, Khon Kaen University

ë The Honorary Doctorate Degree in Law, Other Companies 35

Waseda University (non Listed Companies)

ë Director Accreditation Program (DAP) Competitive Business related -None-

3/2003 to Companyûs Business

ë Director Certification Program (DCP)

68/2005

Thai Institute of Directors Association

3. Mr. Thirasak Vikitset 59 ë MBA, Clark University: Worcester, 0.21 - Listed Companies

ë Director Massachusetts, USA 1985 - Present Managing Director and S&J International Enterprises PLC.

ë Chairman of ë Bachelor of Chemical Engineering Chairman of Executive

Executive Board Worcester Polytechnic Institute,

ë Nominating and Massachusetts, USA Other Companies 11

Remuneration Director ë Director Accreditation Program (DAP) (non Listed Companies)

ë Authorized Director 3/2003 Competitive Business related -None-

ë Director Certification Program (DCP) to Companyûs Business

68/2005




Name / Position

Age Education

hold Relationship


directors


pany Limited



Õ“¬ÿ §ÿ≥«ÿ≤‘∑“ß°“√»÷°…“

∂◊ÕÀÿâπ„π ∑“ß§√Õ∫§√—«



4. π“¬ —πμ‘ «‘≈“ »—°¥“ππ∑å 60 l ª√‘≠≠“«‘»«°√√¡»“ μ√¥ÿ…Ø’∫—≥±‘μ 0.03 -‰¡à¡’- 2549 - °.æ 51 ¡“™‘° ¿“π‘μ‘∫—≠≠—μ‘·Ààß™“μ‘

l °√√¡°“√ °‘μμ‘¡»—°¥‘Ï “¢“«‘»«°√√¡Õÿμ “À°“√ 2550 - ‡¡.¬ 51 °√√¡°“√ °“√π‘§¡Õÿμ “À°√√¡·Ààßª√–‡∑»‰∑¬

l °√√¡°“√ºŸâ¡’Õ”π“®≈ßπ“¡ ¡À“«‘∑¬“≈—¬√“¡§”·Àß 2538 - ªí®®ÿ∫—π °√√¡°“√ ¿“ºŸâ àß ‘π§â“∑“ß‡√◊Õ·Ààßª√–‡∑»‰∑¬

ºŸ°æ—π∫√‘…—∑ l 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√–‡∑»‰∑¬

l ª√‘≠≠“‚∑ °“√∫—≠™’ §≥–æ“≥‘™¬»“ μ√å ∫√‘…—∑®¥∑–‡∫’¬π

·≈–°“√∫—≠™’ ®ÿÃ“≈ß°√≥å¡À“«‘∑¬“≈—¬ 2551 - 2552 °√√¡°“√Õ‘ √– ∫√‘…—∑ ™ÿ¡æ√Õÿμ “À°√√¡ πÈ”¡—πª“≈å¡

l 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“√

l ª√‘≠≠“∫—μ√ «‘∑¬“≈—¬ªÑÕß°—π√“™Õ“≥“®—°√ 2553 - ªí®®ÿ∫—π °√√¡°“√μ√«® Õ∫ ∫¡®. ∏π“§“√°√ÿß‰∑¬

À≈—° Ÿμ√¿“§√—∞√à«¡‡Õ°™π √ÿàπ∑’Ë 355

l À≈—° Ÿμ√ºŸâ∫√‘À“√√–¥—∫ Ÿß ∂“∫—π«‘∑¬“°“√ °‘®°“√Õ◊Ëπ (∑’Ë‰¡à„™à∫√‘…—∑®¥∑–‡∫’¬π) ®”π«π 20 ·Ààß

μ≈“¥∑ÿπ μ≈“¥À≈—°∑√—æ¬å·Ààßª√–‡∑»‰∑¬ °‘®°“√∑’Ë·¢àß¢—π°—∫∏ÿ√°‘®¢Õß∫√‘…—∑ -‰¡à¡’-

(«μ∑. √ÿàπ∑’Ë 7)

l À≈—° Ÿμ√ºŸâ∫√‘À“√√–¥—∫ Ÿß¥â“π°“√§â“·≈–

°“√æ“≥‘™¬å √ÿàπ∑’Ë 1 ∂“∫—π«‘∑¬“°“√°“√§â“

¡À“«‘∑¬“≈—¬ÀÕ°“√§â“

l Director Accreditation Program (DAP)

√ÿàπ 3/2003

®“° ¡“§¡ àß‡ √‘¡ ∂“∫—π°√√¡°“√

∫√‘…—∑‰∑¬ (IOD)



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4. Mr. Santi Vilassakdanont 60 ë The Honorary Doctorate Degree in 0.03 - 2006 - Feb.2008 Member of National

ë Director Engineering (Industrial Engineering), 2007 - Apr.2008 Chairman Industrial Estate Authority of Thailand

l Authorized Director Ramkhamhaeng University 1995 - Present Director Thai National Shippersû Council

ë The Honorary Degree : Doctor of 2002 - Present Director Legislative Assembly Thai Asset Management Corporation

Philosophy (Technology Management), 2006 - Present Director The Federation of Thai Industries

Phranakorn Rajabhat University 2008 - Present Nomination Committee of The Stock Exchange of Thailand

ë Master of Accounting, the Stock Exchange of Thailand

Chulalongkorn University

ë Master of Management (M.M.), Sasin Listed Companies

Institute 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.

ë National Defence Joint Public / 2010 - Present Audit Committee Krung Thai Bank PLC.

Private Sector Course National

Defence College of Thailand Other Companies 20

ë Capital Market Academy Leader (non Listed Companies)

Program; CMA 7, Capital Market Competitive Business related -None-

Academy, The Stock Exchange to Companyûs Business

of Thailand

ë Top Executive Program in Commerce

and Trade; TEPCOT 1, Commerce

Academy, University of the Thai

Chamber of Commerce

ë Director Accreditation Program (DAP)

3/2003




Name / Position

Age Education

hold Relationship


directors


pany Limited



Õ“¬ÿ §ÿ≥«ÿ≤‘∑“ß°“√»÷°…“

∂◊ÕÀÿâπ„π ∑“ß§√Õ∫§√—«



5. π“¬∑πß »√’®‘μ√å 55 l ª√‘≠≠“μ√’ √—∞»“ μ√å -‰¡à¡’- -‰¡à¡’- ∫√‘…—∑®¥∑–‡∫’¬π

l °√√¡°“√ ®ÿÃ“≈ß°√≥å¡À“«‘∑¬“≈—¬ 2539 - ªí®®ÿ∫—π °√√¡°“√ºŸâ™à«¬ºŸâ®—¥°“√„À≠à·≈– ∫√‘…—∑ Àæ—≤π“Õ‘π‡μÕ√å‚Œ≈¥‘Èß ®”°—¥ (¡À“™π)

l °√√¡°“√∫√‘À“√ l Director Accreditation Program (DAP) °√√¡°“√∫√‘À“√

l °√√¡°“√ºŸâ¡’Õ”π“®≈ßπ“¡ √ÿàπ 3/2003 °√√¡°“√ √√À“·≈–°”Àπ¥

ºŸ°æ—π∫√‘…—∑ l Director Certification Program (DCP) §à“μÕ∫·∑π

√ÿàπ 72/2006

l Finance for Non - Finance Director °‘®°“√Õ◊Ëπ (∑’Ë‰¡à„™à∫√‘…—∑®¥∑–‡∫’¬π) ®”π«π 25 ·Ààß

(FND) √ÿàπ 9/2004 °‘®°“√∑’Ë·¢àß¢—π°—∫∏ÿ√°‘®¢Õß∫√‘…—∑ -‰¡à¡’-

®“° ¡“§¡ àß‡ √‘¡ ∂“∫—π°√√¡°“√

∫√‘…—∑‰∑¬ (IOD)

6. π“¬Õ—μ∂°√ °≈—Ëπ§«“¡¥’ 62 l ª√‘≠≠“‡Õ° «‘™“‡Õ°«‘»«°√√¡‡§√◊ËÕß°≈ 0.02 -‰¡à¡’- 2534 - ªí®®ÿ∫—π ∫√‘…—∑®¥∑–‡∫’¬π

l °√√¡°“√ «‘™“‚∑ Operation Research University °√√¡°“√√ÕßºŸâ®—¥°“√·≈– ∫√‘…—∑ ‡Õ ·Õπ¥å ‡® Õ‘π‡μÕ√å‡π™—Ëπ·π≈

l °√√¡°“√∫√‘À“√ of Illinois@Urbaha ª√–‡∑» À√—∞Õ‡¡√‘°“ °√√¡°“√∫√‘À“√ ‡Õπ‡μÕ√å‰æ√ å ®”°—¥ (¡À“™π)

l °√√¡°“√ºŸâ¡’Õ”π“®≈ßπ“¡ l Director Accreditation Program (DAP)

ºŸ°æ—π∫√‘…—∑ √ÿàπ 3/2003 °‘®°“√Õ◊Ëπ (∑’Ë‰¡à„™à∫√‘…—∑®¥∑–‡∫’¬π) ®”π«π 9 ·Ààß

l Director Certification Program (DCP) °‘®°“√∑’Ë·¢àß¢—π°—∫∏ÿ√°‘®¢Õß∫√‘…—∑ -‰¡à¡’-

√ÿàπ 68/2005

®“° ¡“§¡ àß‡ √‘¡ ∂“∫—π°√√¡°“√

∫√‘…—∑‰∑¬ (IOD)

7. π“¬«‘‚√®πå ∏’√«—≤πå«“∑’ 57 l ª√‘≠≠“μ√’ «‘»«°√√¡»“ μ√å -‰¡à¡’- -‰¡à¡’- °‘®°“√Õ◊Ëπ (∑’Ë‰¡à„™à∫√‘…—∑®¥∑–‡∫’¬π) ®”π«π 2 ·Ààß

l °√√¡°“√ºŸâ®—¥°“√ ®ÿÃ“≈ß°√≥å¡À“«‘∑¬“≈—¬ °‘®°“√∑’Ë·¢àß¢—π°—∫∏ÿ√°‘®¢Õß∫√‘…—∑ -‰¡à¡’-

l °√√¡°“√∫√‘À“√ l Director Accreditation Program (DAP)

l °√√¡°“√ºŸâ¡’Õ”π“®≈ßπ“¡ √ÿàπ 12/2004

ºŸ°æ—π∫√‘…—∑ l Director Certification Program (DCP)

√ÿàπ 68/2005

®“° ¡“§¡ àß‡ √‘¡ ∂“∫—π°√√¡°“√

∫√‘…—∑‰∑¬ (IOD)



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5. Mr. Tanong Srichit 55 ë Bachelor Degree in Political Science, - - Listed Companies

ë Director Chulalongkorn University 1996 - Present First Executive Vice President Saha Pathana Inter-Holding PLC.

ë Executive Director ë Director Accreditation Program (DAP) Nominating and Remuneration

ë Authorized Director 3/2003 Committee


72/2006 Other Companies 25

ë Finance for Non - Finance (non Listed Companies)

Director (FND) 9/2004 Competitive Business related -None-

Thai Institute of Directors Association to Companyûs Business

6. Mr. Atthakorn Glankwamdee 62 ë Ph.D. (Mechanical Engineering) 0.02 - Listed Companies

ë Director University of Illinois at Urbana, U.S.A. 1991 - Present Deputy Managing S&J International Enterprises PLC.

ë Executive Director ë Director Accreditation Program (DAP)

ë Authorized Director 3/2003 Other Companies 9

ë Director Certification Program (DCP) (non Listed Companies)

68/2005 Competitive Business related -None-

Thai Institute of Directors Association to Companyûs Business

7. Mr. Viroj Theeravatvatee 57 ë Bachelor of Engineering (Mechanical - - Other Companies 2

ë Managing Director Engineering), Chulalongkorn University (non Listed Companies)

ë Executive Director ë Director Accreditation Program (DAP) Competitive Business related -None-

ë Authorized Director 12/2004 to Companyûs Business


68/2005




Name / Position

Age Education

hold Relationship


directors


pany Limited

8. π“¬ ÿ®√‘μ ªí®©‘¡π—π∑å 65 l ª√‘≠≠“‚∑ √.∫. (°“√ª°§√Õß) -‰¡à¡’- -‰¡à¡’- 2547 - 2549 ª≈—¥°√–∑√«ß¡À“¥‰∑¬ °√–∑√«ß¡À“¥‰∑¬

l °√√¡°“√ ¡À“«‘∑¬“≈—¬∏√√¡»“ μ√å 2545 - 2549 Õ∏‘∫¥’°√¡°“√ª°§√Õß °√–∑√«ß¡À“¥‰∑¬

l °√√¡°“√∫√‘À“√ l ª√‘≠≠“μ√’ √.∫. (°“√ª°§√Õß)

l °√√¡°“√ºŸâ¡’Õ”π“®≈ßπ“¡ ¡À“«‘∑¬“≈—¬∏√√¡»“ μ√å ∫√‘…—∑®¥∑–‡∫’¬π

ºŸ°æ—π∫√‘…—∑ l Director Accreditation Program (DAP) 2547 - 2549 °√√¡°“√ ∫√‘…—∑ º≈‘μ‰øøÑ“√“™∫ÿ√’‚Œ≈¥‘Èß ®”°—¥ (¡À“™π)

√ÿàπ 41/2005 2550 - ªí®®ÿ∫—π °√√¡°“√ ∫√‘…—∑ Àæ—≤πæ‘∫Ÿ≈ ®”°—¥ (¡À“™π)

®“° ¡“§¡ àß‡ √‘¡ ∂“∫—π°√√¡°“√

∫√‘…—∑‰∑¬ (IOD) °‘®°“√Õ◊Ëπ (∑’Ë‰¡à„™à∫√‘…—∑®¥∑–‡∫’¬π) ®”π«π 3 ·Ààß

°‘®°“√∑’Ë·¢àß¢—π°—∫∏ÿ√°‘®¢Õß∫√‘…—∑ -‰¡à¡’-

9. π“¬∫ÿ≠ƒ∑∏‘Ï ¡À“¡πμ√’ 65 l ª√‘≠≠“μ√’«‘ ∑¬“»“ μ√å∫—≥±‘μ 0.01 -‰¡à¡’- ∫√‘…—∑®¥∑–‡∫’¬π

l °√√¡°“√Õ‘ √– ®ÿÃ“≈ß°√≥å¡À“«‘∑¬“≈—¬ 2542 - 2549 °√√¡°“√Õ‘ √–·≈– ∫√‘…—∑ ∏πŸ≈—°…≥å ®”°—¥ (¡À“™π)

l Director Accreditation Program (DAP) °√√¡°“√μ√«® Õ∫

√ÿàπ 3/2003 2529 - ªí®®ÿ∫—π °√√¡°“√ ∫√‘…—∑ Àæ—≤πæ‘∫Ÿ≈ ®”°—¥ (¡À“™π)


√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‡«™ 63 l ª√‘≠≠“‚∑ Oregon State University -‰¡à¡’- -‰¡à¡’- ∫√‘…—∑®¥∑–‡∫’¬π

l °√√¡°“√Õ‘ √– ∑“ß‡»√…∞»“ μ√å 2553 - ªí®®ÿ∫—π °√√¡°“√Õ‘ √– ∫√‘…—∑ Àæ—≤π“Õ‘π‡μÕ√å‚Œ≈¥‘Èß ®”°—¥ (¡À“™π)

l ª√–∏“π°√√¡°“√μ√«® Õ∫ l ª√‘≠≠“μ√’ University of Oregon

l °√√¡°“√ √√À“·≈–°”Àπ¥ (‡»√…∞»“ μ√å) °‘®°“√Õ◊Ëπ (∑’Ë‰¡à„™à∫√‘…—∑®¥∑–‡∫’¬π) -‰¡à¡’-

§à“μÕ∫·∑π l Director Accreditation Program (DAP) °‘®°“√∑’Ë·¢àß¢—π°—∫∏ÿ√°‘®¢Õß∫√‘…—∑ -‰¡à¡’-


l Audit Committee Program (ACP)

®“° ¡“§¡ àß‡ √‘¡ ∂“∫—π°√√¡°“√

∫√‘…—∑‰∑¬ (IOD)




Õ“¬ÿ §ÿ≥«ÿ≤‘∑“ß°“√»÷°…“

∂◊ÕÀÿâπ„π ∑“ß§√Õ∫§√—«




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Eco Fiber

8. Mr. Sujarit Patchimnun 65 ë M.A. in political Science, - - 2004 - 2006 Permanent Secretary of the Ministry of Interior

ë Director Thammasat University Ministry of Interior

ë Executive Director ë B.A. in political Science, 2002 - 2006 Director-General of Department Ministry of Interior

ë Authorized Director Thammasat University of Local Administration

ë Director Accreditation Program (DAP)

41/2005 Listed Companies

Thai Institute of Directors Associations 2004 - 2006 Director Ratchaburi Electricity Generating Holding PLC.

2007 - Present Director Saha Pathanapibul PLC.

Other Companies 3




9. Mr. Boonyarith Mahamontri 65 ë Bachelor of Science, 0.01 - Listed Companies

ë Independent Director Chulalongkorn University 1999 - 2006 Independent Director and Thanulux PLC.

ë Director Accreditation Program (DAP) Audit Committee

3/2003 1986 - Present Director Saha Pathanapibul PLC.


68/2005 Other Companies 1

Thai Institute of Directors Association (non Listed Companies)



10. Mr. Nophorn Bhongsvej 63 ë B.A. University of Oregon (ECON.) - - Listed Companies

ë Independent Director ë M.S. Oregon State University (ECON.) 2010 - Present Independent Director Saha Pathana Inter-Holding PLC

ë Chairman of Audit ë Director Accreditation Program (DAP)

Committee ë Director Certification Program (DCP) Other Companies -None-

ë Nominating and ë Audit Committee Program (ACP) (non Listed Companies)

Remuneration Director Thai Institute of Directors Association Competitive Business related -None-




Name / Position

Age Education

hold Relationship


directors


pany Limited



Õ“¬ÿ §ÿ≥«ÿ≤‘∑“ß°“√»÷°…“

∂◊ÕÀÿâπ„π ∑“ß§√Õ∫§√—«



11. æ≈μ”√«®‡Õ° ¡™“¬ ª√–¿— ¿—°¥’ 68 l √—∞ª√–»“ π»“ μ√å¡À“∫—≥±‘μ (√ª.¡.) -‰¡à¡’- -‰¡à¡’- 2536 - 2539 √ÕßºŸâ∫—≠™“°“√μ”√«®π§√∫“≈ ”π—°ß“πμ”√«®·Ààß™“μ‘

l °√√¡°“√Õ‘ √– ∂“∫—π∫—≥±‘μæ—≤π∫√‘À“√»“ μ√å 2539 - 2540 ºŸâ∫—≠™“°“√μ”√«®¿Ÿ∏√¿“§ 1 ”π—°ß“πμ”√«®·Ààß™“μ‘

l °√√¡°“√μ√«® Õ∫ l 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‘

l ‚√ß‡√’¬π‡ π“∏‘°“√∑À“√∫° À≈—° Ÿμ√ 2545 - 2545 ∑’Ëª√÷°…“ª√–®” ”π—°π“¬°√—∞¡πμ√’ ”π—°π“¬°√—∞¡πμ√’

ª√–®”™ÿ¥∑’Ë 53

l «‘∑¬“≈—¬ªÑÕß°—π√“™Õ“≥“®—°√ À≈—° Ÿμ√ ∫√‘…—∑®¥∑–‡∫’¬π

°“√ªÑÕß°—π√“™Õ“≥“®—°√¿“§√—∞√à«¡‡Õ°™π 2547 - 2549 °√√¡°“√Õ‘ √–·≈– ∫¡®. Õ ¡∑

√ÿàπ∑’Ë 6 ª√–∏“π°√√¡°“√μ√«® Õ∫

l Director Accreditation Program (DAP) 2547 - ªí®®ÿ∫—π °√√¡°“√Õ‘ √–·≈–°√√¡°“√ ∫¡®. ‰Õ.´’.´’. Õ‘π‡μÕ√å‡π™—Ëπ·π≈

√ÿàπ∑’Ë 25/2004 μ√«® Õ∫


51/2004 °‘®°“√Õ◊Ëπ (∑’Ë‰¡à„™à∫√‘…—∑®¥∑–‡∫’¬π) -‰¡à¡’-

l Audit Committee Program (ACP) °‘®°“√∑’Ë·¢àß¢—π°—∫∏ÿ√°‘®¢Õß∫√‘…—∑ -‰¡à¡’-

√ÿàπ∑’Ë 2/2004

l Role of The Chairman Program (RCP)

√ÿàπ∑’Ë 12/2005

®“° ¡“§¡ àß‡ √‘¡ ∂“∫—π°√√¡°“√

∫√‘…—∑‰∑¬ (IOD)



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11. Pol. Gen. Somchai 68 ë Master of Public Adminstration (M.P.A.), - - 1993 - 1996 Deputy Commissioner of Metropolitan Police

Prabhasabhakdi National Institution of Development Metropolitan Police

ë Independent Director Administration 1996 - 1997 Commissioner of Provincial Metropolitan Police

ë Audit Committee ë F.B.I. Academy, USA (Class 93) Police Region 1

ë Chief of the Army Guard Staff (Class 53) Commissioner of Provincial Metropolitan Police

ë National Defence College (Class 6) Police Region 2

ë Director Accreditation Program (DAP) 1997 - 2002 Assistance Commissioner General, Metropolitan Police

25/2004 Royal Thai Police

ë Director Certification Program (DCP) 2002 - 2002 Advisor to the Office of the Office of the Prime Minister

51/2004 Prime Minister

ë Audit Committee Program(ACP) 2/2004

ë Role of The Chairman Program (RCP) Listed Companies

12/2005 2004 - 2006 Independent Director and MCOT PLC.

Thai Institute of Directors Association Chairman of Audit Committee

2004 - Present Independent Director and I.C.C. International PLC.

Audit Committee

Other Companies -None-






Name / Position

Age Education

hold Relationship


directors


pany Limited

12. π“¬Õ¡√ Õ—»«“π—π∑å 62 l ª√‘≠≠“‚∑ ∫√‘À“√∏ÿ√°‘® Bowling Green 0.10 -‰¡à¡’- ∫√‘…—∑®¥∑–‡∫’¬π

l °√√¡°“√Õ‘ √– State University, Ohio, U.S.A. 2545 - 2548 °√√¡°“√Õ‘ √– ∫¡®. À‚§‡®π (™≈∫ÿ√’)

l °√√¡°“√μ√«® Õ∫ l ∫—≠™’∫—≠±‘μ ®ÿÃ“≈ß°√≥å¡À“«‘∑¬“≈—¬ ·≈–ª√–∏“π°√√¡°“√μ√«® Õ∫

l Director Accreditation Program (DAP) 2542 - ªí®®ÿ∫—π °√√¡°“√Õ‘ √–·≈–°√√¡°“√ ∫¡®. ‰Õ.´’.´’. Õ‘π‡μÕ√å‡π™—Ëπ·π≈

√ÿàπ∑’Ë 3/2003 μ√«® Õ∫

®“° ¡“§¡ àß‡ √‘¡ ∂“∫—π°√√¡°“√ 2545 - ªí®®ÿ∫—π °√√¡°“√Õ‘ √–·≈– ∫¡®. ª√–™“Õ“¿√≥å

∫√‘…—∑‰∑¬ (IOD) ª√–∏“π°√√¡°“√μ√«® Õ∫

2545 - ªí®®ÿ∫—π °√√¡°“√Õ‘ √–·≈–°√√¡°“√ ∫¡®. ø“√åÕ’ ∑å ¥’¥’∫’

μ√«® Õ∫

2545 - ªí®®ÿ∫—π °√√¡°“√Õ‘ √–·≈–°√√¡°“√ ∫¡®. °√ÿß‡∑æ‚ ¿≥

∫√‘À“√§«“¡‡ ’Ë¬ß

2548 - 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 59 l ª√‘≠≠“‚∑ “¢“«‘»«°√√¡‡§√◊ËÕß°≈ -‰¡à¡’- -‰¡à¡’- ∫√‘…—∑®¥∑–‡∫’¬π

l °√√¡°“√Õ‘ √– Lamar University. Beaumont, Texas, 2551 - ªí®®ÿ∫—π °√√¡°“√Õ‘ √–·≈– ∫¡®. ‡Õ ·Õπ¥å ‡® Õ‘π‡μÕ√å‡π™—Ëπ·π≈

l °√√¡°“√μ√«® Õ∫ ª√–‡∑» À√—∞Õ‡¡√‘°“ °√√¡°“√μ√«® Õ∫ ‡Õπ‡μÕ√å‰æ√ å

l ª√‘≠≠“μ√’ “¢“«‘»«°√√¡‡§√◊ËÕß°≈

®ÿÃ“≈ß°√≥å¡À“«‘∑¬“≈—¬ °‘®°“√Õ◊Ëπ (∑’Ë‰¡à„™à∫√‘…—∑®¥∑–‡∫’¬π) ®”π«π 1 ·Ààß

l Director Accreditation Program (DAP) °‘®°“√∑’Ë·¢àß¢—π°—∫∏ÿ√°‘®¢Õß∫√‘…—∑ -‰¡à¡’-

√ÿàπ 12/2004


√ÿàπ 68/2005

®“° ¡“§¡ àß‡ √‘¡ ∂“∫—π°√√¡°“√

∫√‘…—∑‰∑¬ (IOD)




Õ“¬ÿ §ÿ≥«ÿ≤‘∑“ß°“√»÷°…“

∂◊ÕÀÿâπ„π ∑“ß§√Õ∫§√—«




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12. Mr. Amorn Asvanunt 62 ë B.Accountancy, Chulalongkorn University 0.10 - Listed Companies

ë Independent Director ë MBA. Bowling Green State University, 2002 - 2005 Independent and Chairman Sahacogen (Chonburi) PLC.

ë Audit Committee Ohio, U.S.A. of Audit Committee

ë Director Accreditation Program (DAP) 1999 - Present Independent Director and I.C.C. International PLC.

3/2003 Audit Committee

Thai Institute of Directors Association 2002 - Present Independent Director and Peopleûs Garment PLC.

Audit Committee

2002 - Present Independent Director and Far East DDB PLC.

Audit Committee

2002 - Present Independent Director and Krungdhep Sophon PLC.

Risk Management Committee

2005 - Present Executive Director Thai Military Bank PLC.

Other Companies 1




13. Mr. Surong Ongkosit 59 ë Master Degree (Mechanical), - - Listed Companies

ë Independent Director Lamar,University, Beaumont, Texas, U.S.A. 2008 - Present Independent Director and S&J International Enterprises PLC.

ë Audit Committee ë Bachelor Degree (Mechanical), Audit Committee

Chulalongkorn University

ë Director Accreditation Program (DAP) Other Companies 1

68/2005 (non Listed Companies)

ë Director Certification Program (DCP) Competitive Business related -None-

68/2005 to Companyûs Business




Name / Position

Age Education

hold Relationship


directors

156 บรษท สหโคเจน (ชลบร) จำกด (มหาชน) Sahacogen (Chonburi) Public Company Limited

Annual sahacogen 2553 (th eng)

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