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“√®“°ª√–∏“π°√√¡°“√ ·≈–ª√–∏“π‡®â“Àπâ“∑’Ë∫√‘À“√ Message from the President and Chief Executive Officer

„π§√÷ Ë ß ªï · √°¢Õߪï 2552 ‡»√…∞°‘ ® ™–≈Õµ— « µà Õ ‡π◊ Ë Õ ß®“°«‘ ° ƒµ ‡»√…∞°‘®¢Õß À√—∞Õ‡¡√‘°“ ·≈–¬ÿ‚√ª„π§√÷ËߪïÀ≈—ߢÕߪï 2551 ´÷Ëß¡’º≈ °√–∑∫µàÕ°“√∫√‘‚¿§ ¿“§°“√º≈‘µ·≈–∫√‘°“√¢Õߪ√–‡∑»∑’ˇ°’ˬ«¢âÕß√«¡∂÷ß ª√–‡∑»‰∑¬¥â«¬ ·µà„π§√÷ËߪïÀ≈—߇»√…∞°‘®„πª√–‡∑»¥—ß°≈à“«‰¥â∑¬Õ¬°“√ øóôπµ—« °“√´◊ÈÕ¢“¬∑’ËÕ¬ŸàÕ“»—¬‰¡àµâÕß≈ß∑ÿπ‡ß‘π®”π«π¡“°‡∑à“°—∫°“√≈ß∑ÿπ ¿“§Õÿµ “À°√√¡ À√◊Õ∏ÿ√°‘®∫√‘°“√ æ√âÕ¡∑—È߇ߑπ®”π«π∑’Ë´◊ÈÕ∑’ËÕ¬ŸàÕ“»—¬  à«π„À≠à “¡“√∂°Ÿâ®“° ∂“∫—π°“√‡ß‘π ·≈–§àÕ¬ºàÕπ™”√–‡ªìπ√–¬–‡«≈“¬“« √—∞∫“≈°Á„Àâ°“√ π—∫ πÿπ‡æ◊ËÕ‡ªìπÀ—«√∂®—°√°√–µÿâπ‡»√…∞°‘®À≈“¬ “¢“ ∑”„Àâ√“§“∑’ËÕ¬ŸàÕ“»—¬´◊ÈÕ¢“¬°—π‰¥âµË”°«à“¬“¡ª°µ‘ °“√°àÕ √â“ß·≈–´◊ÈÕ¢“¬ Õ —ßÀ“√‘¡∑√—æ¬å ®÷ߧ÷°§—°‡√‘Ë¡®“°‰µ√¡“ ∑’Ë 2 µàÕ‡π◊ËÕß¡“∂÷ßªí®®ÿ∫—π ª√–°Õ∫°—∫§«“¡‡™◊ÕË ¡—πË ·≈–π—°∑àÕ߇∑’¬Ë «∑’‡Ë ¢â“ª√–‡∑»‰∑¬‡æ‘¡Ë ¢÷πÈ „π‰µ√¡“  ∑’Ë 4 ¢Õߪï 2552 ‡ªìπµâπ¡“ ·¡â ∂“∫—π°“√‡ß‘π®–æ‘®“√≥“„Àâ ‘π‡™◊ËÕ´◊ÈÕ∑’ËÕ¬Ÿà Õ“»—¬√“¬¬àÕ¬‡¢â¡ß«¥°«à“‡¥‘¡ ‡æ◊ËÕ≈¥§«“¡‡ ’ˬ߷µà ¿“æ§≈àÕß∑’Ë¡’‡À≈◊Õ ®”π«π¡“°Õ—π‡π◊ËÕß®“°‡ß‘ππÕ°∑’ˉÀ≈‡¢â“¡“ °“√≈ß∑ÿπ¿“§Õÿµ “À°√√¡ ·≈–∏ÿ√°‘®∫√‘°“√¡’πâÕ¬  ∂“∫—π°“√‡ß‘π®÷ßµâÕß„À⧫“¡ ”§—≠µàÕ ‘π‡™◊ËÕ∑’ËÕ¬Ÿà Õ“»—¬√“¬¬àÕ¬ ·≈–ºŸâª√–°Õ∫°“√ „πªï 2552 º≈ª√–°Õ∫°“√¢Õß∫√‘…—∑œ ¡’√“¬‰¥â ‡∑à“°—∫ 2,523 ≈â“π∫“∑ ¡’°”‰√ ÿ∑∏‘®“°°“√¥”‡π‘π∏ÿ√°‘®À≈—° ‡∑à“°—∫ 540 ≈â“π∫“∑ ªï 2553 π—°‡»√…∞»“ µ√å ·≈–π—°°“√‡ß‘π¡’°“√«‘‡§√“–Àå·π«‚πâ¡¿“«– ‡»√…∞°‘®∑—Ë«‚≈°‚¥¬√«¡«à“®–¡’°“√ª√—∫µ—«∑’Ë¥’¢÷Èπ√«¡∑—Èߪ√–‡∑»‰∑¬¥â«¬ ‡¡◊ËÕ‡ª√’¬∫‡∑’¬∫°—∫ªï 2552 §◊Õ „π™à«ß§√÷Ëߪï·√°‡»√…∞°‘®¢Õߪ√–‡∑»¬—ß§ß ¥’Õ¬Ÿà ·µà„π™à«ß§√÷ËߪïÀ≈—ߧߵâÕߥŸ√“§“πÈ”¡—π, ¿“«–‡ß‘π‡øÑÕ ·≈–Õ—µ√“·≈° ‡ª≈’ˬπ‡ß‘πµ√“ ®–‰ª„π∑‘»∑“ß„¥  à«πª√–‡∑»‰∑¬ªí≠À“°“√‡¡◊Õß®– §≈’˧≈“¬‰ª„π∑“ß„¥ ®–¡’º≈°√–∑∫µàÕ§«“¡‡™◊ËÕ¡—Ëπ¢Õßπ—°≈ß∑ÿπ¿“§ Õÿµ “À°√√¡·≈–∏ÿ√°‘®∫√‘°“√  ”À√—∫ªï 2553 ∫√‘…—∑¡’°“√µ—È߇ªÑ“°“√¢“¬‰«â‡∑à“°—∫ 3,000 ≈â“π∫“∑ ‚¥¬‡æ‘Ë¡¢÷Èπ®“°ªï 2552 ª√–¡“≥ 23% - 25% πÕ°®“°‚§√ß°“√∑’Ë¥”‡π‘π °“√¢“¬·≈–°àÕ √â“ßµàÕ‡π◊ËÕß ‡ªî¥æ◊Èπ∑’ˇø „À¡à„π∑”‡≈µàÕ‡π◊ËÕß®“°‚§√ß°“√ ‡¥‘¡·≈â« ∫√‘…—∑¡’·ºπ∑’Ë®–‡ªî¥‚§√ß°“√„π∑”‡≈„À¡à‡æ‘Ë¡¢÷ÈπÕ’° 5 ‚§√ß°“√ „πªï 2553 π’È „ππ“¡¢Õߧ≥–°√√¡°“√∫√‘…∑— œ ¢Õ¢Õ∫§ÿ≥∑à“πºŸ∂â Õ◊ Àÿπâ ∑’‰Ë ¥â„À⧫“¡ ‰«â«“ß„®¥â«¬¥’µ≈Õ¥¡“·≈–¢Õ¢Õ∫§ÿ≥∑ÿ°∑à“π∑’ˉ¥â„Àâ°“√ π—∫ πÿπ „π°“√ ¥”‡π‘π∏ÿ√°‘®¢Õß∫√‘…—∑œ „À⇪ìπ‰ª¥â«¬¥’‡ ¡Õ¡“ ·≈–„À⧫“¡‡™◊ËÕ„® ·≈– ¡—Ëπ„®„π∫√‘…—∑œ ®π∑”„Àâ∫√‘…—∑œ  “¡“√∂ºà“πæâπÕÿª √√§∑’ˇ°‘¥¢÷Èπ„πªï∑’Ë ºà“π¡“·≈–À«—߇ªìπÕ¬à“߬‘Ëß«à“®–‰¥â√—∫§«“¡√à«¡¡◊Õ‡æ◊ËÕ„Àâ°“√ªØ‘∫—µ‘ß“π≈¥ ªí≠À“·≈–Õÿª √√§‡æ◊ËÕ∫√√≈ÿ Ÿà§«“¡ ”‡√Á®µàÕ‰ª

™«π µ—Èß¡µ‘∏√√¡ ª√–∏“π°√√¡°“√·≈–ª√–∏“π‡®â“Àπâ“∑’Ë∫√‘À“√

It is not news to any of us that the first half of 2009 was characterised by an economic crisis in the US and Europe in late 2008, which resulted in an economic slowdown throughout the rest of the world. Unsurprisingly, world consumption patterns were all affected, with the production and service sectors, including Thailandûs, taking a beating. Nevertheless, by the end of 2009, Thailandûs economy was showing signs of recovery. Unlike the manufacturing and service industries, the property sector did not require such huge investment. Also, the countryûs financial institutions could offer mortgage loans to the public with long-term loan repayments. Meanwhile, the Thai government provided economic stimulus packages to further boost economic growth in many sectors, especially in the real estate sector. The result was more affordable housing available in the market. Since the second quarter of 2009 and right up to the present, the construction and property business sectors have regained some momentum, with higher confidence level and an increased number of tourists coming to Thailand in the fourth quarter of the year 2009. Although financial institutions have become stricter when granting retail mortgage loans as a way to minimise risks, excess liquidity from foreign fund inflows, in addition to reduced investment in the industrial sector and service industry have prompted most financial institutions not to cut corners on giving credit to retail mortgage and property developers. In 2009, M.K. Real Estate Development Public Company Limited earned 2,523 million baht, with a net profit from our main business equivalent to 540 million baht. In 2010, economic and financial analysts foresee that the worldûs overall economic situation will improve, including in Thailand, and - compared to the situation in 2009 - is already showing promising signs for the first half of the year. Nevertheless, the progress in the second half of the year will depend on various factors, not least fuel prices, inflation and foreign exchange rates. Meanwhile, the domestic political situation will also have an impact on investorsû confidence, especially those in the industrial and service business sectors. The company has set our sales target for 2010 at 3,000 million baht, which is 23%-25% higher than last year, showing a confident and strong position for the year. Apart from ongoing projects, as well as additional phases for existing projects, the company has plans to launch five new projects within this year. On behalf of the companyûs Board of Directors, I would like to convey my sincere gratitude to the shareholders for their continuing confidence in the company, and I thank you for your support in all our business endeavours. Your faith and trust in all that we do has brought us together, and transformed us into a powerful driving force to success over the past year. I fervently hope that we will continue to receive your cooperation and blessings in all our future undertakings, as we continue in our mission to achieve our ultimate goals.

Chuan Tangmatitham President and Chief Executive Officer Annual Report 2009 M.K. Real Estate Development Plc.

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¢âÕ¡Ÿ≈∑—Ë«‰ª General Information ∫√‘…—∑œ ·≈–∫ÿ§§≈Õâ“ßÕ‘ßÕ◊ËπÊ ™◊ÕË ∫√‘…∑— : ∫√‘…—∑ ¡—Ëπ§ß‡§À–°“√ ®”°—¥ (¡À“™π) ‡≈¢∑–‡∫’¬π∫√‘…—∑ : 0107536001567 (∫¡®. 230) ∑’µË ßÈ— ”π—°ß“π : 719 Õ“§“√¡—Ëπ§ß ∂ππ∫√√∑—¥∑Õß ·¢«ß«—ß„À¡à ‡¢µª∑ÿ¡«—π °√ÿ߇∑æ¡À“π§√ 10330 ‚∑√»—æ∑å : 0-2216-6600-18 ‚∑√ “√ : 0-2216-6619 Õ’‡¡≈å : contact@mk.co.th ‡«Á∫‰´∑å : www.mk.co.th ª√–‡¿∑∏ÿ√°‘® : æ—≤π“Õ —ßÀ“√‘¡∑√—æ¬å ∑ÿπ®¥∑–‡∫’¬π : 867,616,848 ∫“∑ (·ª¥√âÕ¬À° ‘∫‡®Á¥≈â“πÀ°· π Àπ÷ËßÀ¡◊ËπÀ°æ—𷪥√âÕ¬ ’Ë ‘∫·ª¥∫“∑∂â«π) ∑ÿπ™”√–·≈â«

: 866,684,157 ∫“∑ (·ª¥√âÕ¬À° ‘∫À°≈â“πÀ°· π ·ª¥À¡◊Ëπ ’Ëæ—πÀπ÷Ëß√âÕ¬Àâ“ ‘∫‡®Á¥∫“∑∂â«π)

∑’˪√÷°…“°ÆÀ¡“¬ : ‰¡à¡’ π“¬∑–‡∫’¬π∫√‘…—∑ : ∫√‘…—∑ »Ÿπ¬å√—∫Ω“°À≈—°∑√—æ¬å (ª√–‡∑»‰∑¬) ®”°—¥ ∑’˵—Èß ”π—°ß“π : 62 Õ“§“√µ≈“¥À≈—°∑√—æ¬å·Ààߪ√–‡∑»‰∑¬ ∂ππ√—™¥“¿‘‡…° ‡¢µ§≈Õ߇µ¬ °√ÿ߇∑æ¡À“π§√ 10110 ‚∑√»—æ∑å : 0-2229-2800, ‚∑√ “√ : 0-2359-1234 »Ÿπ¬å√—∫Ω“°¢âÕ§«“¡ : 0-2229-2888 Õ’‡¡≈å : contact-tsd@set.or.th ‡«Á∫‰´∑å : www.tsd.co.th ºŸâ·∑π∂◊ÕÀÿâπ°Ÿâ : ‰¡à¡’ ∑’˪√÷°…“ ∑“ß°“√‡ß‘π : ‰¡à¡’ ºŸâ Õ∫∫—≠™’ : ∫√‘…—∑  Õ∫∫—≠™’∏√√¡π‘µ‘ ®”°—¥ ∑’˵—Èß ”π—°ß“π : 267/1 ∂ππª√–™“√“…Æ√å  “¬1 ‡¢µ∫“ß´◊ËÕ °√ÿ߇∑æ¡À“π§√ 10800 ‚∑√»—æ∑å : 0-2587-8080 ‚∑√ “√ : 0-2586-0301 ™◊ËÕºŸâ Õ∫∫—≠™’ : π“ß “«®—π∑√“ «àÕß»√’Õÿ¥¡ ºŸâ Õ∫∫—≠™’√—∫Õπÿ≠“µ∑–‡∫’¬π‡≈¢∑’Ë 4996 À√◊Õ π“¬æ®πå Õ—»« —𵑙—¬ ºŸâ Õ∫∫—≠™’√—∫Õπÿ≠“µ∑–‡∫’¬π‡≈¢∑’Ë 4891 ∑’˪√÷°…“À√◊Õ®—¥°“√ ¿“¬„µâ ≠ — ≠“ °“√®—¥°“√ : ‰¡à¡’

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√“¬ß“πª√–®”ªï 2552 ∫√‘…—∑ ¡—Ëπ§ß‡§À–°“√ ®”°—¥ (¡À“™π)

The Company and Other referred Persons Company : M.K. REAL ESTATE DEVELOPMENT PLC. Registration No. : 0107536001567 (PCL. 230) Head Office : 719 M.K. Building, Bantadtong Road, Wang Mai, Pathumwan, Bangkok 10330 Tel : 0-2216-6600-18 Fax : 0-2216-6619 E-mail : contact@mk.co.th Web Site : www.mk.co.th Principal Business : Real Estate Development Registered Capital : Baht 867,616,848 (Eight Hundred and sixty seven Million and six Hundred and sixteen Thousand and eight Hundred and forty eight Baht) Paid Up Capital : Baht 866,684,157 (Eight Hundred and sixty six Million and six Hundred and eighty four Thousand and one Hundred and fifty seven Baht) Legal Consultant : None Registered on : THAILAND SECURITIES DEPOSITORY CO., LTD. Address : 62 The Stock Exchange of Thailand Building Rachadapisek Road. Klongtoey, Bangkok 10110 Tel : 0-2229-2800 Fax : 0-2359-1234 Call center : 0-2229-2888 E-mail : contact-tsd@set.or.th Web Site : www.tsd.co.th Debentures Agent : None Financial Consultant : None Auditor : DHARMNITI AUDITING CO., LTD. Address : 267/1 Pracharaj 1 Road, Bangsue, Bangkok 10800 Tel : 0-2587-8080 Fax : 0-2586-0301 C.P.A. : Miss. Chantra Wongsri-Udomporn Certified Public Accountant Registration No. 4996 Mr. Poj Atsawasantichai Certified Public Accountant Registration No. 4891 Contract Intermediary : None


𑵑∫ÿ§§≈∑’Ë∫√‘…—∑∂◊ÕÀÿâπµ—Èß·µà√âÕ¬≈– 10 ¢÷Èπ‰ª Juristic Persons of which the Companyûs Shareholding Exceeded 10% ∫√‘…—∑ Companies

ª√–‡¿∑¢Õß∏ÿ√°‘® Type of Business

¡’∑ÿπ ®”π«π‡ß‘π ™”√–·≈â« ≈ß∑ÿπ ∂◊ÕÀÿπâ √âÕ¬≈– ‚∑√»—æ∑å Paid up Capital Investment Percentage of Telephone (At Par) Amount Ownership

‚∑√ “√ Fax.

1. ∫√‘…—∑ “¡—§§’´’‡¡πµå ®”°—¥ Samakkee Cement Co., Ltd.

Õÿµ “À°√√¡´’‡¡πµå Manufacturing-Cement

185,000,000

123,557,481

40.64

0-2216-6646

0-2215-2266

2. ∫√‘…—∑ ‘π ÿ¢æ√ÁÕæ‡æÕ√åµ’È ®”°—¥ Sinsuk Properties Co., Ltd.

Õ —ßÀ“√‘¡∑√—æ¬å Real Estate

200,000,000

30,000,000

15.00

0-2913-1717

0-2913-1717

3. ∫√‘…—∑ ·¡π§Õπ ®”°—¥ Mancon Co., Ltd.

√—∫‡À¡“°àÕ √â“ß Construction

20,000,000

22,065,866

95.50

0-2214-4543

0-2612-3492

4. ∫√‘…—∑ ¥Ÿ√“ø≈Õ√å ®”°—¥ Duraflor Corp., Ltd.

Õÿµ “À°√√¡ Manufacturing

55,000,000

8,395,000

15.26

0-2216-6620-9

0-2216-6634

5. ∫√‘…—∑ ∑√—æ¬åπ√ ‘ßÀå ®”°—¥ Subnorasing Co., Ltd.

Õÿµ “À°√√¡∑√“¬ Manufacturing-Sand

18,000,000

4,353,290

36.07

0-2216-6600-18 0-2612-4557

6. ∫√‘…—∑ ¥’´’‡¡πµå ®”°—¥ Dee Cement Corp., Ltd.

Õÿµ “À°√√¡´’‡¡πµå Manufacturing-Cement

12,500,000

2,469,000

19.75

0-2216-6600-18 0-2612-4557

∑’˵—Èß ”π—°ß“π (Office Address) :

719 Õ“§“√¡—Ëπ§ß ∂ππ∫√√∑—¥∑Õß ·¢«ß«—ß„À¡à ‡¢µª∑ÿ¡«—π °√ÿ߇∑æ¡À“π§√ 10330 719 M.K. Building Bantadtong Road, Wang Mai, Pathumwan, Bangkok 10330

Annual Report 2009 M.K. Real Estate Development Plc.

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≈—°…≥–°“√ª√–°Õ∫∏ÿ√°‘® Type of Business √ÿª “√– ”§—≠¢Õß≈—°…≥–°“√ª√–°Õ∫∏ÿ√°‘® ∫√‘ … — ∑ ¡— Ë π §ß‡§À–°“√ ®”°— ¥ (¡À“™π) ª√–°Õ∫∏ÿ √ °‘ ® æ— ≤ π“ Õ —ßÀ“√‘¡∑√—æ¬å √—∫‡À¡“°àÕ √â“ß·≈–„À⇙à“Õ —ßÀ“√‘¡∑√—æ¬å ‚¥¬¡ÿà߇πâ𠂧√ß°“√ª√–‡¿∑∑’ËÕ¬ŸàÕ“»—¬„π·π«√“∫ ¡’‚§√ß°“√∑’ˇªî¥¥”‡π‘π°“√„πªï 2552 ®”π«π 17 ‚§√ß°“√ ≈—°…≥–‡ªìπ∫â“π‡¥’¬Ë «·≈–∫â“π·Ω¥ ¿“¬„µâ™ÕË◊ 癫π™◊πË é ·≈– ç ‘√’π‡Œâ“ åé °“√„À⇙à“Õ —ßÀ“√‘¡∑√—æ¬å‰¥â·°à Õ“§“√ ”π—°ß“π·≈– »Ÿπ¬å°’Ó πÕ°®“°π’Ȭ—߇ªî¥„Àâ∫√‘°“√ π“¡°Õ≈åø 癫π™◊Ëπé ‡ªìπ π“¡°Õ≈åø 18 À≈ÿ¡ æ√âÕ¡§≈—∫‡Œâ“ å·≈– π“¡‰¥√åø°Õ≈åøµ—ßÈ Õ¬Ÿ∫à π∂ππ°√ÿ߇∑æ-ª∑ÿ¡∏“π’ ∫√‘…—∑¬àÕ¬§◊Õ ∫√‘…—∑ ·¡π§Õπ ®”°—¥ ª√–°Õ∫∏ÿ√°‘®ª√–‡¿∑ √—∫‡À¡“ °àÕ √â“ß·≈–æ—≤π“Õ —ßÀ“√‘¡∑√—æ¬å„π‚§√ß°“√¢π“¥‡≈Á°  à«π∫√‘…—∑√à«¡Õ’° 2 ·Ààß §◊Õ ∫√‘…—∑  “¡—§§’´’‡¡πµå ®”°—¥ ª√–°Õ∫∏ÿ√°‘®ª√–‡¿∑º≈‘µ«— ¥ÿ ªŸπ´’‡¡πµå·≈–ªŸπ ”‡√Á®√Ÿª, ∫√‘…—∑ ∑√—æ¬åπ√ ‘ßÀå ®”°—¥ ª√–°Õ∫∏ÿ√°‘® ª√–‡¿∑Õÿµ “À°√√¡∑√“¬

CHARACTERISTIC OF BUSINESS M.K. Real Estate Development Public Company Limited is in the business of property development, construction and property rental. Our focus is on low-rise residential project. 17 Projects were operated in 2009, comprising single-detached house and duplex. Under the brand name çChuan Chuené and çSerene Houseé. Our properties for rental include office building and sports clubs. Another service of ours, Chuan Chuen Golf Club, is an 18-hole golf course with Club House and driving range. It is situated on Bangkok-Pathumthani road. One of our subsidiaries, Moncon Co., Ltd. is in construction business and property development. And two affiliates Samakkee Cement Co., Ltd. and Subnorasing Co., Ltd. which is a sand supplier.

º—ß· ¥ß‚§√ß √â“ß°“√∂◊ÕÀÿâπ¢Õß∫√‘…—∑ / THE COMPANYûS SHAREHOLDING CHART ∫¡®. ¡—Ëπ§ß‡§À–°“√ M.K. Real Estate Development Plc. ∫®. ·¡π§Õπ Mancon Co., Ltd. 95.50%

∫®. ∑√—æ¬åπ√ ‘ßÀå Subnorasing Co., Ltd. 36.07%

∫®. “¡—§§’´’‡¡πµå Samakkee Cement Co., Ltd. 40.64%

‚§√ß √â“ß√“¬‰¥â / Revenues Structure (Àπ૬ : æ—π∫“∑ / Unit : Thousand Baht) º≈‘µ¿—≥±å / ∫√‘°“√ Product / Service

¥”‡π‘πß“π‚¥¬ Company

æ—≤π“Õ —ßÀ“√‘¡∑√—æ¬å Real Estate Development

∫¡®. ¡—Ëπ§ß‡§À–°“√ M.K. Real Estate Development Plc. ∫®. ·¡π§Õπ Mancon Co., Ltd. ∫¡®. ¡—Ëπ§ß‡§À–°“√ M.K. Real Estate Development Plc. ∫®. ·¡π§Õπ Mancon Co., Ltd.

Õ◊ËπÊ Other

% °“√∂◊ÕÀÿâπ ¢Õß∫√‘…—∑ M.K. Real Estate Shareholding (%)

95.50

95.50

2550 / 2007 √“¬‰¥â % Revenue

2551 / 2008 √“¬‰¥â % Revenue

2552 / 2009 √“¬‰¥â % Revenue

1,918,501 94.47

2,086,158 95.66

2,427,936 96.24

112,273

5.53

94,668

4.34

94,907

3.76

√«¡ / Total 2,030,774 100 2,180,826 100 2,522,843 100 Other revenues consist of : Buildingûs rent, Golf Course etc. Each √“¬‰¥âÕ◊ËπÊ ª√–°Õ∫¥â«¬ √“¬‰¥â®“° §à“‡™à“Õ“§“√, √“¬‰¥â®“° π“¡°Õ≈åø œ≈œ ‡ªìπµâπ ´÷Ëß√“¬‰¥â¥—ß°≈à“«À“°·¬°¬àÕ¬·µà≈–√“¬°“√®–¡’ item valued than 10% of consolidated total revenues. ¡Ÿ≈§à“‰¡à‡°‘π 10% ¢Õß√“¬‰¥â√«¡ µ“¡ß∫°“√‡ß‘π√«¡ ∫√‘…—∑œ ¡’ à«π‰¥â‡ ’¬„π∫√‘…—∑√à«¡¥—ßπ’È / The Equity in net income (loss) in Associated companies 2550 / 2007 ∫√‘…—∑ ∑√—æ¬åπ√ ‘ßÀå ®”°—¥ Subnorasing Co., Ltd. ∫√‘…—∑  “¡—§§’´’‡¡πµå ®”°—¥ Samakkee Cement Co., Ltd.

4

√“¬ß“πª√–®”ªï 2552 ∫√‘…—∑ ¡—Ëπ§ß‡§À–°“√ ®”°—¥ (¡À“™π)

(∫√‘…—∑œ ∂◊ÕÀÿâπ 36.07%) (M.K. Shareholding 36.07%) (∫√‘…—∑œ ∂◊ÕÀÿâπ 40.64%) (M.K. Shareholding 40.64%)

2551 / 2008

2552 / 2009

(886,672)

947,301

(35,622)

(5,090,067)

2,555,414

(4,200,581)


𑵑∫ÿ§§≈∑’Ë∫√‘…—∑∂◊ÕÀÿâπµ—Èß·µà√âÕ¬≈– 10 ¢÷Èπ‰ª Juristic Persons of which the Companyûs Shareholding Exceeded 10% ≈—°…≥–º≈‘µ¿—≥±å °“√µ≈“¥·≈–¿“«–°“√·¢àߢ—π·≈–°“√®—¥À“ º≈‘µ¿—≥±å¢Õß∫√‘…—∑¬àÕ¬·≈–√à«¡∑’Ë ”§—≠ ≈—°…≥–º≈‘µ¿—≥±å ∏ÿ√°‘®Õ —ßÀ“√‘¡∑√—æ¬å‰¥â‡°‘¥°“√‡ª≈’¬Ë π·ª≈߉ª¡“°À≈—ß®“°∑’ªË √–‡∑» ª√– ∫¿“«–«‘°ƒµ ‰¡à«“à ®–‡ªìπ ‘ßË ·«¥≈âÕ¡∑“ß∏ÿ√°‘®‰¥â·°à °“√‡¡◊Õß ‡»√…∞°‘®  —ߧ¡ ·≈–‡∑§‚π≈’¬’ À√◊Õ°”≈—ß´◊ÕÈ µ≈Õ¥®πÕ”π“®µàÕ√ÕߢÕߺŸ´â ÕÈ◊ ªí®®—¬‡À≈à“π’È  àߺ≈„À⺟âª√–°Õ∫°“√µâÕߪ√—∫µ—«‡æ◊ËÕ𔇠πÕ ‘π§â“„Àâµ√ߧ«“¡µâÕß°“√ ¢Õßµ≈“¥ „π à«π¢Õß∫√‘…—∑ ≈—°…≥–°“√ª√–°Õ∫∏ÿ√°‘®‚¥¬ à«π„À≠à§◊Õ °“√æ—≤π“Õ —ßÀ“√‘¡∑√—æ¬å‡æ◊ËÕ¢“¬„π√Ÿª¢Õß‚§√ß°“√´÷Ëߪ√–°Õ∫¥â«¬ ∫â“π‡¥’Ë¬« ·≈–∫â“π·Ω¥ ‡ªìπÀ≈—° ´÷Ëß°√–®“¬Õ¬Ÿà∑—Èß„π°√ÿ߇∑æ¡À“π§√·≈– ª√‘¡≥±≈ ‚¥¬¡’∏√ÿ °‘®√Õߧ◊Õ ∏ÿ√°‘® π“¡°Õ≈åø·≈–°“√„À⇙à“Õ“§“√ ”π—°ß“π °“√µ≈“¥·≈–¿“«–·¢àߢ—π π‚¬∫“¬·≈–≈—°…≥–°“√µ≈“¥·≈–°“√·¢àߢ—π¢Õߺ≈‘µ¿—≥±å ·≈–∫√‘°“√∑’Ë ”§—≠ ∫√‘…∑— œ 𔇠πÕ ‘π§â“‚¥¬¬÷¥π‚¬∫“¬ 秫“¡§ÿ¡â √“§“é (Value for Money) ·°à≈Ÿ°§â“°≈à“«§◊Õ≈Ÿ°§â“®–‰¥â√—∫ ‘π§â“·≈–∫√‘°“√∑’Ë¥’„π√“§“∑’ˇÀ¡“– ¡ ª√–‡¿∑¢Õß ‘π§â“ª√–°Õ∫¥â«¬ ∫â“π‡¥’Ë¬« ∫â“π·Ω¥ ∑’Ë¥‘π‡ª≈à“ √–¥—∫√“§“ ‡©≈’ˬª√–¡“≥ 2.0 - 5.0 ≈â“π∫“∑ ≈—°…≥–≈Ÿ°§â“®–‡ªìπºŸâ„™â‚¥¬µ√ß (end user) ®÷߉¡à¡’§«“¡‡ ’ˬ߄π°“√æ÷Ëßæ‘ß≈Ÿ°§â“√“¬„¥‡ªìπ摇»… °≈ÿà¡≈Ÿ°§â“‡ªÑ“À¡“¬ ‡ªìπ°≈ÿࡺŸâ¡’√“¬‰¥â√–¥—∫ª“π°≈“ߢ÷Èπ‰ª ™à«ßÕ“¬ÿª√–¡“≥ 30 - 40 ªï Õ“™’æ √—∫®â“߇հ™π, ∏ÿ√°‘® à«πµ—« ‡ªìπ à«π„À≠à  ”À√—∫™àÕß∑“ß°“√®”Àπà“¬ ®–„™â«‘∏’¢“¬µ√ß·°à≈Ÿ°§â“ ‚¥¬¡’ ”π—°ß“π¢“¬ª√–®”·µà≈–Àπ૬ߓπ·≈–  ”π—°ß“π„À≠à °“√®—¥À“º≈‘µ¿—≥±åÀ√◊Õ∫√‘°“√ ∑’Ë¥‘π·≈–«— ¥ÿ°àÕ √â“ß ≈—°…≥–°“√®—¥„À≥⡓´÷Ëߺ≈‘µ¿—≥±å „π™à«ßªï∑’˺à“π¡“∫√‘…—∑œ ‰¥â¥”‡π‘π°“√®—¥´◊ÈÕ«—µ∂ÿ¥‘∫(∑’Ë¥‘π) ‡æ‘Ë¡‡µ‘¡ ∫“ß à«π ´÷Ëß®–æ—≤𓇪ìπ‚§√ß°“√ „πªï 2552 ·≈–∫√‘…—∑¡’∑’Ë¥‘π∑’Ë√Õ°“√ æ—≤π“Õ¬Ÿà®”π«πÀπ÷Ëß (ª√–¡“≥ 30% ¢Õß ‘π∑√—æ¬å√«¡) ´÷Ëß∫√‘…—∑œ‰¥â´◊ÈÕ‰«â „π√“§“µâπ∑ÿπ∑’Ë∂Ÿ°·≈–‡≈Á߇ÀÁπ«à“‡ªìπ∑”‡≈ ”§—≠„πÕ𓧵∑’Ë®–æ‘®“√≥“ «“ß·π«∑“ß„π°“√æ—≤𓇪ìπ≈”¥—∫µàÕ‰ª ‚¥¬∫√‘…∑— œ ¬—ߧߡ’π‚¬∫“¬¡ÿßà ‡πâπ æ—≤π“∑”‡≈µà“ßÊ √Õ∫°√ÿ߇∑æœ ·≈–ª√‘¡≥±≈∑’Ë¿“§√—∞¡’π‚¬∫“¬„π°“√ «“߇§√◊Õ¢à“¬§¡π“§¡ ∑—Èß∂ππµ—¥„À¡à ∑“ߥà«π ·≈–¢π àß¡«≈™π√–∫∫√“ß „π à«π¢Õß«—µ∂ÿ¥∫‘ («— ¥ÿ°Õà  √â“ß) ∫√‘…∑— œ®–„™âπ‚¬∫“¬®—¥®â“ߺŸ√â ∫— ‡À¡“ ¡“¥”‡π‘π°“√ ¥—ßπ—Èπ «— ¥ÿ à«π„À≠à®÷߇ªìπ°“√®—¥´◊ÈÕ‚¥¬ºŸâ√—∫‡À¡“ ¬°‡«âπ «— ¥ÿ∫“ß™π‘¥∑’˵âÕ߇ªìπ°“√§«∫§ÿ¡§ÿ≥¿“æ ∫√‘…—∑®– —Ëß´◊ÈÕ‡Õß®“°∫√‘…—∑œ ºŸâº≈‘µ‚¥¬µ√ß´÷Ëß®–‰¥âµâπ∑ÿπ∑’Ë∂Ÿ°°«à“‡π◊ËÕß®“°¡’°“√ —Ë߇ªìπ®”π«π¡“° À√◊Õ  —Ëß´◊ÈÕ®“°∫√‘…—∑„π‡§√◊Õ ´÷Ëß∫√‘…—∑œ  “¡“√∂¡’Õ”π“®µàÕ√Õß„π·ßà√“§“ ‡ß◊ËÕπ‰¢ ·≈–°“√∫√‘°“√∑’Ë¡“ºà“π¡“ ∫√‘…—∑œ ‰¡à¡’°“√´◊ÈÕ«—µ∂ÿ¥‘∫®“°ºŸâº≈‘µ À√◊ÕºŸâ®”Àπà“¬√“¬„¥‡°‘π°«à“√âÕ¬≈– 30 ¢Õß¡Ÿ≈§à“°“√´◊ÈÕ«—µ∂ÿ¥‘∫∑—ÈßÀ¡¥

Product, Marketing & Competition and Procurement of Significant Subsidiaries and Affiliates Product Description Real estate businesses have undergone changes substantially in the wake of economic crisis faced by the nation, affecting business environment, ie., politics, economy, social, technology and purchasing power. Amid this scenario, developers have to streamline their operations to keep abreast of the trends in the market. For M.K. Real Estate Developments, emphasis is placed on housing projects for sale, including single houses and twin house. Our projects are located all over Bangkok Metropolitan and the suburbs. The Company also operates a golf courses and office buildings for rental. Marketing and Competition Policy for marketing and competition The Company offers its products by adhering to the policy of çValue for moneyé in favor of our customers. Under this policy, customers get good quality products and services at reasonable prices, Products are composed of Single Houses Twin Houses and land plots in the price range of 2.0 - 5.0 million baht. We aim for the end users so the risk of relying heavily on a single client or customer is limited. Our target market is middle class, aged 30 - 40 years old, working for private sector and being entrepreneurs. Our distribution channel is direct sales to customer with sales office at each project site and at the head office. Procurement Land And Construction Materials. Procurement Methods. Last year, the Company purchased raw material (land) additionally for project development in 2009. The Company also has land to be developed (about 30% of total assets value) that was purchased at a relatively low cost, with prospects for future development. The Company has a policy to develop projects in various locations around Bangkok and the suburbs, where the State has policy for transport ration infrastructure including new roads, expressway and mass rail transportation For construction raw materials, as the Company recruits building contractors to carry out jobs, materials are directly purchased by the contractor except certain kinds of construction materials requiring quality control. For these, the Company buys from manufacturers directly at economical prices as we place bulk orders. Alternatively, the Company purchases from the Subsidiaries which the Company gains bargaining power in pricing, condition and services. Past records show that the Company made no purchase of raw materials from any manufacturer that exceeded 30% of total volume of purchases.

Annual Report 2009 M.K. Real Estate Development Plc.

5


·π«‚πâ¡¿“«–Õÿµ “À°√√¡·≈– ¿“æ°“√·¢àߢ—π Trend of Industry and Competition ¿“æ√«¡∑“߇»√…∞°‘® ¢Õߪ√–‡∑»‰∑¬ „πªï 2552 ∑’˺à“π¡“ Õ—µ√“ °“√¢¬“¬µ—«∑“߇»√…∞°‘® (®’¥’æ’) ‡©≈’ˬ∑—ÈߪïÕ¬Ÿà∑’Ë √âÕ¬≈– - 2.3 (‰µ√¡“ ∑’Ë 1 ‡∑à“°—∫ - 7.1% ‰µ√¡“ ∑’Ë 2 ‡∑à“°—∫ - 4.5% ‰µ√¡“ ∑’Ë 3 ‡∑à“°—∫ - 2.8% ‰µ√¡“ ∑’Ë 4 ‡∑à“°—∫ + 5.8%) π—∫«à“¢¬“¬µ—«µ‘¥≈∫πâÕ¬°«à“∑’ËÀ≈“¬ΩÉ“¬ §“¥°“√≥剫⠇π◊ËÕß®“°Õ—µ√“°“√¢¬“¬µ—«∑“߇»√…∞°‘®„𠉵√¡“ ∑’Ë 4 ‡æ‘Ë¡¡“°∂÷ß√âÕ¬≈– + 5.8 µ“¡°“√‡√‘Ë¡øóôπµ—«¢Õß¿“«–‡»√…∞°‘®‚≈° ·≈–°“√ °√–µÿâπ°“√„™â®à“¬ß∫ª√–¡“≥¢Õß¿“§√—∞ ∑’ˇ√‘Ë¡°√–®“¬ÕÕ°¡“  ”À√—∫ªï 2553  ”π—°ß“π§≥–°√√¡°“√æ—≤π“°“√‡»√…∞°‘®·≈–  —ߧ¡·Ààß™“µ‘ ( »™.) §“¥°“√≥å«à“Õ—µ√“°“√¢¬“¬µ—«∑“߇»√…∞°‘®®–Õ¬Ÿà √–À«à“ß √âÕ¬≈– 3.5 - 4.5 „π¿“§∏ÿ√°‘®Õ —ßÀ“√‘¡∑√—æ¬å„πªï 2552 ∑’˺à“π¡“ ∂÷ß·¡â«à“ ®–‰¥â√—∫ º≈°√–∑∫‡™‘ß≈∫®“°°“√©ÿ¥√—ÈߢÕß°“√‡¡◊Õß·≈–°“√≈ß∑ÿπ¢Õßµà“ߪ√–‡∑» „πª√–‡∑»‰∑¬ ·µà°Á∂◊Õ‰¥â«à“¬—߇ªìπ∫«°Õ¬Ÿà‡¡◊ËÕ‡∑’¬∫°—∫¿“æ√«¡¢Õߪ√–‡∑» ®“°ªí®®—¬∑’√Ë ∞— ∫“≈‰¥âµÕà Õ“¬ÿ¡“µ√°“√∑“ß¿“…’‡æ◊ÕË °√–µÿπâ ¿“§Õ —ßÀ“√‘¡∑√—æ¬å ª√–°Õ∫°—∫Õ—µ√“¥Õ°‡∫’Ȭ∑’ËÕ¬Ÿà„π√–¥—∫µË” ∑“ߥâ“π¢âÕ¡Ÿ≈®“°»Ÿπ¬å¢âÕ¡Ÿ≈ Õ —ßÀ“√‘¡∑√—æ¬å √–∫ÿ∂÷ß°“√‚Õπ°√√¡ ‘∑∏‘Ï„πæ◊Èπ∑’Ë °√ÿ߇∑æœ ·≈–ª√‘¡≥±≈ æ∫«à“ ¡’°“√®¥∑–‡∫’¬π‚Õπ°√√¡ ‘∑∏‘ÏÕ —ßÀ“√‘¡∑√—æ¬å∑ÿ°ª√–‡¿∑ √«¡°—π ª√–¡“≥ 220,300 ¬Ÿπ‘µ ‡æ‘Ë¡¢÷Èπ 7% ®“°ªï°àÕπÀπâ“π’È ·∫à߇ªìπ∑’ËÕ¬ŸàÕ“»—¬ ª√–¡“≥ 160,600 ¬Ÿπ‘µ („π®”π«ππ’ȇªìπ§Õπ‚¥¡‘‡π’¬¡ 56,100 ¬Ÿπ‘µ §‘¥‡ªìπ 35% √Õß≈ß¡“‡ªìπ∑“«π凌ⓠå 51,500 ¬Ÿπ‘µ §‘¥‡ªìπ 32% ∫â“π‡¥’Ë¬« 33,100 ¬Ÿπ‘µ §‘¥‡ªìπ 21% Õ“§“√æ“≥‘™¬å 15,350 ¬Ÿπ‘µ §‘¥‡ªìπ 9% ·≈– ∫â“π·Ω¥ 4,550 ¬Ÿπ‘µ §‘¥‡ªìπ 3%) √«¡Õ —ßÀ“√‘¡∑√—æ¬å∑ÿ°ª√–‡¿∑¡’¡Ÿ≈§à“ 572,800 ≈â“π∫“∑ ‡æ‘Ë¡¢÷Èπ 1% ®“°ªï°àÕπÀπâ“ ·∫à߇ªìπ∑’ËÕ¬ŸàÕ“»—¬ 336,400 ≈â“π∫“∑ ‡æ‘Ë¡¢÷Èπ 8% (·¬°‡ªìπ ∫â“π‡¥’¬Ë « ¡Ÿ≈§à“ 114,700 ≈â“π∫“∑ „°≈⇧’¬ßªï∑·Ë’ ≈â« Õ“§“√™ÿ¥¡Ÿ≈§à“ 106,300 ≈â“π∫“∑ ‡æ‘Ë¡¢÷Èπ 18% ∑“«π凌ⓠ塟≈§à“ 68,100 ≈â“π∫“∑ ‡æ‘Ë¡¢÷Èπ 12% Õ“§“√æ“≥‘™¬å 38,100 ≈â“π∫“∑ ‡æ‘Ë¡¢÷Èπ 5% ·≈–∫â“π·Ω¥ 9,300 ≈â“π∫“∑ „°≈⇧’¬ßªï 2551)  à«π·π«‚π⡵≈“¥Õ —ßÀ“√‘¡∑√—æ¬å ·≈– ¿“æ°“√°“√·¢àߢ—π ªï 2553 §“¥«à“®– “¡“√∂¢¬“¬µ—«ª√–¡“≥ 5% µ“¡¿“«–°“√øóπô µ—«¢Õ߇»√…∞°‘® „πª√–‡∑» ‚¥¬®–¡’°“√‡ªî¥µ—«‚§√ß°“√„À¡à¡“°¢÷Èπ ·¡â«à“√—∞∫“≈‰¥âª√–°“» ‰¡àµàÕÕ“¬ÿ¡“µ√°“√¿“…’ ‡æ◊ËÕ°√–µÿâπ¿“§Õ —ßÀ“√‘¡∑√—æ¬å ∑’Ë®– ‘Èπ ÿ¥„π«—π∑’Ë 28 ¡’π“§¡ 2553 ºŸâª√–°Õ∫°“√®–µâÕߪ√—∫µ—« ∑—Èß„π‡√◊ËÕß °“√√–∫“¬ µäÕ° ∫â“π∑’Ë¡’Õ¬Ÿà °“√°”Àπ¥√“§“‚ª√‚¡™—Ëπ ·≈–°“√µ—Èß√“§“¢“¬ ”À√—∫‚§√ß°“√ ∑’Ë®–‡ªî¥„À¡à  à«π√“§“∫â“ππ—Èπ®–ª√—∫¢÷Èπ À√◊Õ‰¡à·§à‰Àπ¢÷ÈπÕ¬Ÿà°—∫ µäÕ°∑’Ë¡’ Õ¬Ÿà·≈–°“√·¢àߢ—π ·≈–¬—ߢ÷ÈπÕ¬Ÿà°—∫∑”‡≈∑’˵—Èß·∫√π¥å ‘π§â“ ´÷Ëߧ“¥«à“‚¥¬ ‡©≈’ˬπà“®–ª√—∫√“§“¢÷Èπª√–¡“≥ 4-5% À≈—ß®“° ‘Èπ ÿ¥¡“µ√°“√ µ“¡√“§“ «— ¥ÿ∑’Ë¡’·π«‚π⡪√—∫ Ÿß¢÷Èπ

6

√“¬ß“πª√–®”ªï 2552 ∫√‘…—∑ ¡—Ëπ§ß‡§À–°“√ ®”°—¥ (¡À“™π)

Thailandûs overall economic outlook for the fiscal year 2009 saw an average GDP growth of - 2.3% over the year (- 7.1% in the first quarter, - 4.5% in the second quarter, - 2.8% in the third quarter, and + 5.8% in the fourth quarter). Thanks to the positive growth of 5.8% in the fourth quarter, the drop in expansion was not as sharp as expected. The growth was accounted for by the worldûs economic recovery and the governmentûs budget expenditure. The Office of the National Economic and Social Development Board (NESDB) forecasted that the year 2010 would see an average economic growth rate of between 3.5 and 4.5%. In spite of the unsettled political situation and decreasing foreign investment having an impact on the domestic property development sector, overall growth of the sector has been favourable, partly because of the governmentûs decision to extend tax privileges to stimulate the property sector, coupled with low interest rates on loans. Meanwhile, reports from the Real Estate Information Center (REIC) showed that registration of transferred properties totaled 220,300 units for all types of property in Bangkok and vicinities a 7% increase from the previous year. Amongst the units, there were 160,600 residential buildings, comprising 56,100 condominiums (35%), 51,500 townhouses (32%), 33,100 detached houses (21%), 15,350 commercial buildings (9%), and 4,550 duplex houses (3%). The total value of all types of properties transferred amounted to 572,800 million baht, a 1% increase from the previous year. Of the total value, 336,400 million baht came from residential buildings (an 8% increase), comprising 114,700 million baht from detached houses, (comparable year-on-year), 106,300 million baht from condominium projects (an 18% increase), 68,100 million baht from townhouses (a 12% increase), 38,100 million baht from commercial buildings (a 5% increase) and 9,300 million baht from duplex houses (comparable to last yearûs). Property market is expected to rise by 5% in 2010, depending largely on domestic economic recuperation. More projects will be launched, despite the governmentûs decision not to extend tax privileges which is to be expired on 28 March 2010. Developers must be well prepared by establishing more attractive promotion campaigns such as price slashing to accelerate sales of existing housing stock, in addition to offering promotional sales prices for new projects. Whether or not house price will be increased and by how much depend on the available stock, the competition situation and the actual location of projects. However, after the lifting of the governmentûs tax privileges, housing prices are expected to increase by between 4 and 5%, depending on the cost of construction materials which has been increasing.


ª√–¡“≥°“√‡»√…∞°‘®‰∑¬ ªï 2553 / Thai Economic Forecast for 2010 ¥—™π’™’È«—¥∑“߇»√…∞°‘®

2552 / 2009

2553E / 2010E1/

Economic Index

Õ—µ√“°“√¢¬“¬µ—«¢Õß GDP (%)

- 2.3

3.5 - 4.5

GDP Growth (%)

°“√≈ß∑ÿπ√«¡ (%)

- 9.0

4.6

Investment (%)

°“√∫√‘‚¿§√«¡ (%)

- 0.1

2.8

Consumption (%)

°“√ àßÕÕ° ‘π§â“·≈–∫√‘°“√ (%)

- 12.7

8.8

Export of goods & services (%)

°“√π”‡¢â“ ‘π§â“·≈–∫√‘°“√(%)

- 21.8

16.4

Import of goods & services (%)

¥ÿ≈∫—≠™’‡¥‘π –æ—¥ (æ—π≈â“π¥Õ≈≈“√å  √Õ.)

20.3

12.2

Current account balance (Bil. USD)

Õ—µ√“‡ß‘π‡øÑÕ∑—Ë«‰ª (%)

2.0

3.0 - 4.0

Headline Inflation GDP Deflator (%)

Õ—µ√“¥Õ°‡∫’Ȭπ‚¬∫“¬ (%)

1.25

1.50 - 1.75

Interest Rate (RP-1Day) (%)

∑’Ë¡“ : ”π—°ß“π§≥–°√√¡°“√æ—≤π“°“√‡»√…∞°‘®·≈– —ߧ¡·Ààß™“µ‘ ( »™.) Source : Office of the National Economic and Social Development Board (NESDB)

1/ 1/

µ—«‡≈¢ª√–¡“≥°“√ ≥ 22 °ÿ¡¿“æ—π∏å 2553 Forecast as of : 22 February 2010

¥—™π’™’È«—¥∑“߇»√…∞°‘® / Economic Index 2552 / 2009 253E / 2010E 16.4 8.8 4.6

2.0 3.0 - 4.0

2.8

1.25 1.50 - 1.75

- 0.1 - 9.0 - 12.7

Õ—µ√“¥Õ°‡∫’Ȭπ‚¬∫“¬ Interest Rate (RP-1Day)

Õ—µ√“‡ß‘π‡øÑÕ∑—Ë«‰ª Headline Inflation GDP Deflator

°“√π”‡¢â“ ‘π§â“·≈–∫√‘°“√ Import of goods & services

°“√ àßÕÕ° ‘π§â“·≈–∫√‘°“√ Export of goods & services

°“√∫√‘‚¿§√«¡ Consumption

- 21.8

°“√≈ß∑ÿπ√«¡ Investment

Õ—µ√“°“√¢¬“¬µ—«¢Õß GDP GDP Growth

√âÕ¬≈– (%) 25 20 15 10 3.5 - 4.5 5 0 - 2.3 -5 - 10 - 15 - 20 - 25

Annual Report 2009 M.K. Real Estate Development Plc.

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√ÿª°“√‡ª≈’ˬπ·ª≈ß∑’Ë ”§—≠„πªï∑’˺à“π¡“ Significant Changes in Previous Year ªï 2552 ‡ªìπªï∑§Ë’ Õà π¢â“ߺ—πº«π·≈–§“¥‡¥“¬“° ”À√—∫µ≈“¥∑’ÕË ¬ŸÕà “»—¬ ®“°™à«ßµâπªï´÷Ëßµ≈“¥´∫‡´“®“°§«“¡µ÷߇§√’¬¥∑“ß°“√‡¡◊Õß„πª√–‡∑»·≈– «‘°ƒµ‘‡»√…∞°‘®‚≈° ∑”„À⺟âª√–°Õ∫°“√µà“ß™–≈Õ°“√≈ß∑ÿπ‡æ◊ËÕª√–‡¡‘π  ∂“π°“√≥å „π‰µ√¡“ ∑’Ë 2 ‡√‘Ë¡¡’º≈µÕ∫√—∫®“°ºŸâ∫√‘‚¿§ ∑”„Àâ¬Õ¥¢“¬¢Õß ºŸªâ √–°Õ∫°“√√“¬„À≠à «à π„À≠à°√–‡µ◊ÕÈ ß¢÷πÈ ·¡â«“à ®–¡’‡Àµÿ°“√≥姫“¡‰¡à ß∫ ∑“ß°“√‡¡◊Õß„π‡¥◊Õπ‡¡…“¬π·µà°Á§≈’˧≈“¬‰¥â„π‡«≈“Õ—π —Èπ ª√–°Õ∫°—∫ √—∞∫“≈‰¥â¢¬“¬√–¬–‡«≈“¡“µ√°“√°√–µÿâπ‡»√…∞°‘®„π°“√≈¥À¬àÕπ§à“ ∏√√¡‡π’¬¡°“√‚Õπ°√√¡ ‘∑∏‘Ï∑’ËÕ¬ŸàÕ“»—¬ ®“° 2% ‡ªìπ 0.01% ≈¥À¬àÕπ§à“ ∏√√¡‡π’¬¡°“√®¥®”πÕß®“° 1% ‡ªìπ 0.01% ·≈–≈¥À¬àÕπ¿“…’∏ÿ√°‘®‡©æ“– ®“° 3.3% ‡ªìπ 0.11% ÕÕ°‰ªÕ’° 1 ªï µ≈“¥∑’ËÕ¬ŸàÕ“»—¬®÷ߪ√—∫µ—«¥’¢÷Èπµ“¡ ≈”¥—∫µ≈Õ¥∑—Èßªï  ”À√—∫Õÿª∑“π„πµ≈“¥∑’ËÕ¬ŸàÕ“»—¬ ®”π«π∑’ËÕ¬ŸàÕ“»—¬ √â“߇ √Á® ®¥∑–‡∫’¬π (‚¥¬ºŸâª√–°Õ∫°“√) ¬—ß¡’·π«‚π⡵àÕ‡π◊ËÕß®“°ªï 2551 °≈à“«§◊Õ ®”π«π§Õπ‚¥¡‘‡π’¬¡‡æ‘Ë¡¢÷Èπ „π¢≥–∑’Ë®”π«π∑’ËÕ¬ŸàÕ“»—¬·π«√“∫≈¥≈ß ∑—Èßπ’È ‡π◊ËÕß®“°§Õπ‚¥¡‘‡π’¬¡∑’Ë √â“߇ √Á®„πªï 2552 ‡°‘¥®“°‚§√ß°“√∑’ˇªî¥µ—«„π ªï 2550 - 2551 „π¢≥–∑’Ë∫â“π®—¥ √√®– “¡“√∂ª√—∫≈¥®”π«π°“√º≈‘µ  Õ¥√—∫°—∫¿“«–µ≈“¥‰¥â‡√Á«°«à“ ®÷ß “¡“√∂ –∑âÕπ¿“槫“¡´∫‡´“¢Õß µ≈“¥„π™à«ßª≈“¬ªï 51 ∂÷ßµâπªï 52 ‰¥â™—¥‡®π°«à“ ·µà ”À√—∫∑’ËÕ¬ŸàÕ“»—¬ ‡ªî ¥ µ— « „À¡à ®”π«π®–≈¥≈ߪ√–¡“≥ 27 - 28% ∑— È ß ∫â “ π®— ¥  √√·≈– §Õπ‚¥¡‘‡π’¬¡ ®“°°“√™–≈Õ°“√≈ß∑ÿπ‡æ◊ËÕª√–‡¡‘π ∂“π°“√≥å„π™à«ßµâπªï „π à«π¢Õß∫√‘…—∑œ ‡Õß°Á‡™àπ°—π ®“°¿“«–µ≈“¥∑’Ë´∫‡´“„π™à«ßµâπªï ∫√‘…—∑œ ®÷߉¡à‰¥â‡ªî¥µ—«‚§√ß°“√„À¡à®π°√–∑—Ëß„π‰µ√¡“ ∑’Ë 4 ¡’°“√‡ªî¥µ—« ‚§√ß°“√™«π™◊Ëπ‚¡¥—  ®√—≠œ - ªîòπ°≈â“ µ—ÈßÕ¬Ÿà∫√‘‡«≥∂ππ∫“ß°√«¬ - ‰∑√πâÕ¬ ∫πæ◊Èπ∑’Ë 34 ‰√à ª√–°Õ∫¥â«¬∫â“π‡¥’Ë¬«·≈–∫â“π·Ω¥®”π«π 164 ·ª≈ß ¡Ÿ≈§à“‚§√ß°“√√«¡ 735 ≈â“π∫“∑ ¥â«¬∑”‡≈∑’Ë‚¥¥‡¥àπ ‡æ’¬ß 2 °¡.®“°∂ππ  ‘√‘π∏√ ·≈– 1.6 °¡. ®“°‚§√ß°“√√∂‰øøÑ“ “¬ ’·¥ß  ∂“π’∫“ß∫”À√ÿ ·≈– Õ’°Àπ÷Ëß‚§√ß°“√„À¡à§◊Õ ™«π™◊Ëπ‚¡¥—  ‡´π‚∑√ µ—ÈßÕ¬Ÿà„°≈â®ÿ¥≈ß∑“ߥà«π ·®âß«—≤π– ‡¢â“ÕÕ°‰¥â 2 ∑“ß∑—Èß´Õ¬·®âß«—≤π– 41 ·≈–∂ππ‡¡◊Õß∑Õß∏“π’ ¢π“¥‚§√ß°“√ 40 ‰√à ª√–°Õ∫¥â«¬∫â“π‡¥’¬Ë «·≈–∫â“π·Ω¥ æ√âÕ¡∑—ßÈ ∑“«π凌ⓠå 3 ™—Èπ ®”π«π 260 ·ª≈ß ¡Ÿ≈§à“‚§√ß°“√√«¡ 1,050 ≈â“π∫“∑ ¥â«¬∑”‡≈∑’Ë ‚¥¥‡¥àπ·≈–√“§“∑’ˇÀ¡“– ¡ ∑—Èß Õß‚§√ß°“√®÷߉¥â√—∫°“√µÕ∫√—∫∑’Ë¥’ ¥— ß §“¥À¡“¬ πÕ°®“°π’ È ∫√‘ … — ∑ œ ¬— ß ‰¥â ‡ ªî ¥ µ— « ‡ø „À¡à ‡ π◊ È Õ ∑’ Ë 19 ‰√à „π‚§√ß°“√™«π™◊Ëπ‡æ™√‡°…¡ ‚¥¬π”‡ πÕ ‘π§â“„À¡à‡ªìπ∑“«πå‚Œ¡ 2 ™—Èπ „𠉵≈å‚¡‡¥‘√åπ ®”π«π 116 ¬Ÿπ‘µ „π√“§“‡æ’¬ß¬Ÿπ‘µ≈– 2 ≈â“π∫“∑‡»… ‚¥¬ ‘π§â“∑“«π凌ⓠå∑—Èß 2 ™—Èπ·≈– 3 ™—È𠇪ìπ ‘π§â“∑’Ë∫√‘…—∑œ ‰¥â°≈—∫¡“ æ—≤π“Õ’°§√—ÈßÀ≈—ß®“°∑‘Èß™à«ß‰ª°«à“ ‘∫ªï ∑—Èßπ’ȇæ◊ËÕ‡ªìπ°“√¢¬“¬µ≈“¥ √Õß√—∫‡ªÑ“À¡“¬°“√‡µ‘∫‚µ„πªï 2553 ·≈–ªïµàÕʉª „πªï 2552 ∫√‘…—∑œ ¬—ߧߠ“πµàÕ°‘®°√√¡‡æ◊ËÕ —ߧ¡Õ¬à“ßµàÕ‡π◊ËÕß ¥â«¬ ‚§√ß°“√ çMK Young Creative Contest 2009 : Short Film Awardé ∫√‘…—∑œ ®—¥„Àâ¡’°“√Àπ—ß —Èπ„π·π«§‘¥ çHouse of Viewé ‡æ◊ËÕ‡ªî¥¡ÿ¡¡Õ߇°’ˬ« °—∫ ç∫â“πé ·≈–§√Õ∫§√—«ºà“π¿“æ¬πµ√å —Èπ ´÷Ëߺ≈ß“π∑’ˉ¥â√—∫√“ß«—≈π—Èπ≈â«π ¡’¡ÿ¡¡Õß∑’Ëπà“ π„® ·≈–¡’§«“¡À≈“°À≈“¬∑—Èß„π·ßà√Ÿª·∫∫·≈–·π«§‘¥ Õ’°Àπ÷Ëß°‘®°√√¡∑’ˉ¥â®—¥µàÕ‡π◊ËÕ߇ªìπ§√—Èß∑’Ë 6 ·≈⫧◊Õ °‘®°√√¡ çMK Sunday Togetheré „π·π«§‘¥ çOrganic Day Campé ‚¥¬π”‡¥Á°Ê  ¡“™‘°‚§√ß°“√ ¢Õß∫√‘…—∑œ √à«¡ —¡º— ∏√√¡™“µ‘ ≥ ‰√àª≈Ÿ°√—° ®.√“™∫ÿ√’ ‡æ◊ËÕª≈Ÿ°Ωíß®‘µ ”π÷° √—°…å∏√√¡™“µ‘·°à‡¥Á°Ê ºà“π°‘®°√√¡ πÿ° π“π¡“°¡“¬ πÕ°®“°π’È ºŸâ∫√‘À“√ ·≈–æπ—°ß“π∫√‘…—∑œ ¬—߉¥â®—¥°‘®°√√¡ çMK ªíπ ÿ¢‡æ◊ËÕπâÕßé ¡Õ∫‡ß‘π·≈–  ‘ßË ¢Õß∫√‘®“§·°à‚√߇√’¬π∫â“π«—ß°åæß ®—ßÀ«—¥ª√–®«∫§’√¢’ π— ∏å ‡æ◊ÕË ‡ªìπ à«πÀπ÷ßË „π°“√ à߇ √‘¡¥â“π°“√»÷°…“·°à‡¬“«™π„πæ◊Èπ∑’ËÀà“߉°≈

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√“¬ß“πª√–®”ªï 2552 ∫√‘…—∑ ¡—Ëπ§ß‡§À–°“√ ®”°—¥ (¡À“™π)

The year 2009 proved quite an unpredictable one for the housing market. Starting since the beginning of the year with the unsettling political atmosphere at home and the worldwide economic recession, the situation saw developers cautiously assessing the market before making any further investments. In the second quarter, the market regained momentum as consumers started spending more on housing; most established property developers saw their sales grow despite the violent yet short-lived political unrest in April. This was helped by the governmentûs decision to provide a one-year extension on economic stimulus measures, offering tax cuts on the property ownership transfer fee of 2% down to 0.01%, plus a reduction on the mortgage registration fee of 1% down to 0.01%. The special business tax, formerly 3.3%, was also cut to 0.11%, adding to the property marketûs robust health throughout the year. As for the housing supply in 2009, the number of newly completed and registered housing units (by developers) continued its trend from the year 2008, seeing an increased number of condominiums along with a drop in low - rise housing units. Condominium projects completed in 2009, however, were for the most part projects which had been launched in 2007 and 2008. The drop in new low - rise housing projects better reflected the sluggish demand of the market at the end of 2008 and beginning of 2009. The situation also saw newly launched projects dropping 27 - 28% in both low rise housing and condominium projects as new investments were pending in early 2009. M.K. Real Estate Development Plc. was also affected by the market slowdown at the beginning of the year. Therefore no new project was launched until the fourth quarter. These new projects were : ë Chuan Chuen Modus Charan - Pinklao. This project, worth 735 million baht, comprises 164 plots of single and duplex houses, with a total land area of 34 rai on Bangkruey-Sainoi Road. It is conveniently located, only 2 km from Sirindhon road and 1.6 km from the redline mass transit route, Bangbamru station. ë Chuenchun Modus Centro (worth 1,050 million baht), near the exit of the Chang Wattana Expressway, with convenient access via Chang Wattana Soi 41 and Muang Thong Thani road. The project comprises 260 plots of single houses, duplex houses and 3 - storey townhouses, with a total land area of 40 rai. Both projects were well received, thanks to their reasonable prices and prime locations. The company also opened a new phase on the existing project, Chuan Chuen Petchakasem, reentering the townhouse market for the first time in over 10 years. The new phase comprises 116 units of 2 storey modern town homes, priced at over 2 million baht per unit. Expanding into townhouse market is one of the companyûs measures to achieve growth target in 2010 and beyond. The company has been active in our social contributions and activities. In 2009, the company launched the çMK Young Creative Contest 2009 : Short Film Awardé for short film competition with the theme çHouse of Viewé, focusing on homes and families. Award-winning pieces featured fascinating views, and were diverse both in presentation and concepts. Another activity held continually was çMK Sunday Togetheré. The concept for this year was çOrganic Day Campé, where children visited Plouk Rak Ranch in Ratchaburi Province to enjoy nature. The idea was to instill the love of nature in the young through a variety of fun activities. Last, but not least, was the çMK Pan Sook Pua Nongé project (MK shares happiness with kids), which saw management and staff joining hands to contribute both money and necessities to schools in remote areas to improve their educational resources. The children of Baan Wang Pong School in Prachuab Khiri Khan Province benefitted from the project in 2009.


ªí®®—¬§«“¡‡ ’Ë¬ß Risk Factors 1.

§«“¡‡ ’ˬ߄π°“√ª√–°Õ∫∏ÿ√°‘® (Business Risk)

°“√øóôπµ—«¢Õ߇»√…∞°‘®„πªï 2553 ¬—ߢ÷ÈπÕ¬Ÿà°—∫ªí®®—¬∑“ß°“√‡¡◊Õß °“√øóô𧫓¡‡™◊ËÕ¡—Ëπ¢Õßπ—°≈ß∑ÿπ®“°ªí≠À“¡“∫µ“æÿ¥ ·≈–°“√øóôπµ—«®“° «‘°ƒµ‘‡»√…∞°‘®‚≈° ∑—ÈßÀ¡¥π’È®– àߺ≈µàÕ§«“¡‡™◊ËÕ¡—Ëπ¢ÕߺŸâ∫√‘‚¿§´÷Ë߇ªìπ ªí®®—¬ ”§—≠µàÕ°“√‡µ‘∫‚µ¢Õß∏ÿ√°‘®∑’ËÕ¬ŸàÕ“»—¬ ®÷߇ªìπ∑’˧“¥À¡“¬‰¥â«à“°“√ ·¢àߢ—π„πµ≈“¥∑’ËÕ¬ŸàÕ“»—¬®–¬—ߢ—∫‡§’ˬ«°—πÕ¬à“߇¢â¡¢âπ ‡æ◊ËÕ§«“¡¡—Ëπ„®„π§«“¡ ”‡√Á®¥â“π°“√µ≈“¥ ∫√‘…—∑œ ®÷߬—ߧߧ«“¡ ‡¢â¡ß«¥„π°“√§—¥ √√∑’Ë¥‘π∑’Ë®–æ—≤𓂧√ß°“√„À¡à Õ’°∑—È߬—߇æ‘Ë¡ ‘π§â“ ∑“«πå ‡ Œâ “  å ·≈–§Õπ‚¥¡‘ ‡ π’ ¬ ¡ ‡æ◊ Ë Õ ·¬à ß ™‘ ß  à « π·∫à ß µ≈“¥·≈–√Õß√— ∫ §«“¡µâÕß°“√¢Õß°≈ÿà¡≈Ÿ°§â“‰¥â°«â“ߢ÷Èπ πÕ°®“°π’È ®“°°“√∑’√Ë ∞— ∫“≈‰¡àµÕà Õ“¬ÿ¡“µ√°“√°√–µÿπâ Õ —ßÀ“√‘¡∑√—æ¬å „π°“√≈¥À¬àÕπ§à“∏√√¡‡π’¬¡·≈–¿“…’ ¬àÕ¡∑”„Àâ§à“„™â®à“¬¢Õß∫√‘…—∑œ °≈—∫‰ª Ÿß„π√–¥—∫ª°µ‘°àÕπ‰¥â√—∫ ‘∑∏‘ª√–‚¬™πå ∫√‘…—∑œ ®÷ßµ—È߇ªÑ“À¡“¬ º≈—°¥—π‡ªÑ“À¡“¬°“√¢“¬·≈–√“¬‰¥â ‡æ◊ËÕ„À⇰‘¥°“√‡µ‘∫‚µ¢Õß°”‰√Õ¬à“ß µàÕ‡π◊ËÕß 2.

§«“¡‡ ’ˬߥâ“π°“√º≈‘µ (Production Risk)

µâπ∑ÿπ°“√º≈‘µ„πªï 2553 ®–‰¥â√—∫º≈°√–∑∫®“°√“§“πÈ”¡—π´÷Ëß¡’ ·π«‚πâ¡ Ÿß¢÷πÈ ¥—ßπ—πÈ ∫√‘…∑— œ ‰¥â‡µ√’¬¡æ√âÕ¡„π°“√µ‘¥µ“¡§«“¡‡ª≈’¬Ë π·ª≈ß ¢Õß√“§“«— ¥ÿ ‚¥¬®– —Ëß®Õß·≈–™”√–√“§“≈à«ßÀπâ“ ”À√—∫«— ¥ÿ∑’Ë¡’·π«‚πâ¡ √“§“ª√—∫µ—« Ÿß¢÷Èπ ¥—ß∑’ˇ§¬ªØ‘∫—µ‘¡“„πÕ¥’µ „π¥â“π°“√§«∫§ÿ¡§ÿ≥¿“æ ∫√‘…—∑œ ¡ÿà߇πâπæ—≤π“§ÿ≥¿“æ∑—Èß„π·ßà ß“π°àÕ √â“ß·≈–ß“π∫√‘°“√ ‚¥¬¡Õ∫√“ß«—≈ π—∫ πÿπºŸâ√—∫‡À¡“·≈–æπ—°ß“π ∑’Ë¡’§ÿ≥¿“æß“π¥’‡¥àπ ‡æ◊ËÕ°√–µÿâπ„À⇰‘¥°“√æ—≤π“º≈ß“π∑’Ë¥’¢÷ÈπÕ¬à“ß µàÕ‡π◊ËÕß∑—Èß ‘π§â“·≈–∫√‘°“√ 3.

§«“¡‡ ’ˬߥâ“π°“√‡ß‘π (Financial Risk)

1. Business Risks The economic recovery of Thailand in 2010 depends on several factors, including the political situation at home, regaining the confidence of investors following the Mab Taput controversy, and of course the worldûs economic recuperation. All of these will have an impact on consumersû confidence, an important factor in the growth of the property and housing development sector. Thus it is foreseeable that fierce competition in the residential market will continue. To ensure our marketing success, the company continues to focus our efforts on the careful selection of land for future development, in addition to expanding into townhouse and condominium markets, with the aim to increase our market shares and widen customer base. The fact that the government stopped its real estate stimulus measures in fee and tax reductions has now reinstated the companyûs expenses back to the normal rate before these privileges were applied. This has prompted the company to set an ambitious revenue and sales target in order to achieve continuous profit growth. 2. Production Risks An anticipated rise in production costs in 2010, due to increasing oil prices, prompted the company to make necessary preparations and carefully monitor any price escalations in construction materials. The company will make advance purchasing on materials which have a tendency to increase in price, as done in the past. Quality control in construction work and services are part of the companyûs working principles. To encourage continued success and improved performances in our construction and services, the company has granted monetary awards to outstanding contractors and employees. 3. Financial Risks

∫√‘…—∑œ ¬—ߧß√—°…“ ∂“𖧫“¡·¢Áß·°√àß∑“ß°“√‡ß‘πÕ¬à“ßµàÕ‡π◊ËÕß ¿“√–Àπ’ȇߑπµâπ≥. ‘Èπªï 2552 §ß‡À≈◊Õ‡æ’¬ß 400 ≈â“π∫“∑‡»… „π¢≥–∑’Ë¡’ ∑√—æ¬å ‘π¡Ÿ≈§à“°«à“ 6,000 ≈â“π∫“∑ Õ’°∑—ÈßÀπ’È ‘π‡°◊Õ∫∑—ÈßÀ¡¥¢Õß∫√‘…—∑œ ¬—߇ªìπÀπ’Ȫ√–‡¿∑‚§√ß°“√ ´÷Ëß “¡“√∂‡∫‘°‡ß‘π°Ÿâµ“¡§«“¡§◊∫Àπâ“¢Õßß“π °àÕ √â“ß·≈–¡’°”Àπ¥™”√–§◊πµ“¡¬Õ¥‚Õπ°√√¡ ‘∑∏‘Ï ®÷ß∑”„À⇰‘¥ ¡¥ÿ≈∑’Ë¥’ √–À«à“ß°√–· ‡ß‘π ¥√—∫ - ®à“¬  ¿“æ§≈àÕß∑“ß°“√‡ß‘π¢Õß∫√‘…—∑œ Õ¬Ÿà„π √–¥—∫ Ÿß ¥—ß®–‡ÀÁπ‰¥â®“°°√–· ‡ß‘π ¥®“°°“√¥”‡π‘πß“π∑’ˇªìπ∫«°„π √–¥—∫À≈“¬√âÕ¬≈â“π∫“∑µàÕ‡π◊ËÕßÀ≈“¬ªï∑’˺à“π¡“ §«“¡æ√âÕ¡∑“ß°“√‡ß‘ππ’È ®–¡’ à«π ”§—≠µàÕ§«“¡¬◊¥À¬ÿàπ„π°“√¥”‡π‘πß“π¢Õß∫√‘…—∑œ ∑—Èß„π¿“«–∑’Ë µ≈“¥øóôπµ—«À√◊Õµ°µË”°«à“∑’˧“¥

The company managed to maintain our financial strength throughout the years. Outstanding principal, as at the end of 2009, totaled just a little over 400 million baht while our assets were valued at six billion baht. Almost all debts were project loans, which could be drawn by construction work progress and due according to title deed transfer; hence there is a good balance between incoming and outgoing cash flow. The companyûs enjoyed high financial liquidity, as reflected by a positive operational cash flow amounting to hundreds of millions of baht over the years. Such financial readiness is integral to the companyûs operational flexibility either at the time of market recuperation or unexpected fallback.

Õπ÷Ëß ∫√‘…—∑œ ‰¥â√—∫°“√ª√—∫√–¥—∫§«“¡πà“‡™◊ËÕ∂◊Õ∑“ß°“√‡ß‘π (Credit Rating) ‚¥¬∫®°.∑√‘ ‡√∑µ‘Èß ®“° √–¥—∫ BBB ‡ªìπ BBB+ ‡¡◊ËÕµâπ‡¥◊Õπ ¡’π“§¡ 2553

Additionally, in march 2010, Tris Rating Co., Ltd. upgraded MKûs corporate credit rating from çBBBé to çBBB+é due to continuous improvement of our financial profile.

Annual Report 2009 M.K. Real Estate Development Plc.

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¢âÕ¡Ÿ≈∑“ß°“√‡ß‘π‚¥¬ √ÿª¢Õß∫√‘…—∑ Summary of Financial Information ¢âÕ¡Ÿ≈®“°ß∫°“√‡ß‘π & Õ—µ√“ à«π∑“ß°“√‡ß‘π‡ª√’¬∫‡∑’¬∫ 3 ªï / Financial Information & Ratios (Àπ૬ : æ—π∫“∑) / ( Unit : Thousand Baht) √“¬°“√ 2550 2551 2552 DESCRIPTION 2007 2008 2009 º≈°“√¥”‡π‘πß“π / OPERATING RESULTS √“¬‰¥â®“°°“√¢“¬ 1,985,844 2,157,800 2,497,089 Sales Revenues √“¬‰¥â√«¡ 2,072,217 2,180,825 2,522,842 Total Revenues µâπ∑ÿπ·≈–§à“„™â®à“¬√«¡ 1,552,073 1,602,705 1,753,458 Total Costs and Expenses °”‰√ (¢“¥∑ÿπ) ¢—Èπµâπ 745,403 836,020 1,014,920 Gross Profit (Loss) °”‰√ (¢“¥∑ÿπ)  ÿ∑∏‘ 331,605 404,263 539,774 Net Profit (Loss) ∞“π–°“√‡ß‘π / FINANCIAL POSITION  ‘π∑√—æ¬å√«¡ Total Assets Àπ’È ‘π√«¡ Total Liabilities  à«π¢ÕߺŸâ∂◊ÕÀÿâπ Shareholdersû Equity  ‘π§â“§ß‡À≈◊Õ Inventories ¢âÕ¡Ÿ≈µàÕÀÿâπ (∫“∑) / PER SHARE (Baht) °”‰√ (¢“¥∑ÿπ)  ÿ∑∏‘µàÕÀÿâπ Net Profit (Loss) Per Share ‡ß‘πªíπº≈µàÕÀÿâπ Dividend Per Share ¡Ÿ≈§à“µ“¡∫—≠™’µàÕÀÿâπ Book Value Per Share ¡Ÿ≈§à“ ‘π∑√—æ¬å ÿ∑∏‘µàÕÀÿâπ Net Asset Value Per Share

√“¬ß“πª√–®”ªï 2552 ∫√‘…—∑ ¡—Ëπ§ß‡§À–°“√ ®”°—¥ (¡À“™π)

15.72 15.68 9.41 21.40 33.52

6,412,661

6,166,403

5,986,958

(2.91)

2,389,694

1,858,998

1,366,885

(26.47)

4,022,967

4,307,405

4,620,073

7.26

5,270,952

5,086,258

4,886,330

(3.93)

0.38

0.47

0.63

33.52

0.14

0.14

0.15

7.14

4.64

4.97

5.35

7.65

7.22

6.26

7.18

14.70

Õ—µ√“ à«π∑“ß°“√‡ß‘π (√âÕ¬≈–) / FINANCIAL RATIO (%) Õ—µ√“°”‰√¢—Èπµâπ 37.54 Gross Profit Margin Õ—µ√“°”‰√ ÿ∑∏‘ 16.00 Net Profit Margin Õ—µ√“º≈µÕ∫·∑πºŸâ∂◊ÕÀÿâπ 8.46 Return on Equity Õ—µ√“ ¿“æ§≈àÕß (‡∑à“) 4.59 Current Ratio (times) Õ—µ√“ à«πÀπ’È ‘πµàÕ à«π¢ÕߺŸâ∂◊ÕÀÿâπ (‡∑à“) 0.59 Debt to Equity Ratio (times)

10

% ‡ª≈’ˬπ·ª≈ß 2551→2552 % Change 2008→2009

º≈µà“ß / Difference 38.74

40.64

1.90

18.54

21.40

2.86

9.71

12.09

2.38

6.42

7.73

1.31

0.43

0.30

(0.13)


Annual Report 2009 M.K. Real Estate Development Plc.

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12

√“¬ß“πª√–®”ªï 2552 ∫√‘…—∑ ¡—Ëπ§ß‡§À–°“√ ®”°—¥ (¡À“™π)


Annual Report 2009 M.K. Real Estate Development Plc.

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14

√“¬ß“πª√–®”ªï 2552 ∫√‘…—∑ ¡—Ëπ§ß‡§À–°“√ ®”°—¥ (¡À“™π)


‚§√ß √â“ß°“√∂◊ÕÀÿâπ·≈–°“√®—¥°“√ Shareholding Structure and Management °≈ÿࡺŸâ∂◊ÕÀÿâπ√“¬„À≠à 10 Õ—π¥—∫·√° ≥ 31  ‘ßÀ“§¡ 2552 / Top 10 Shareholdersû Groups and of August 31st, 2009

1 °≈ÿà¡π“¬™«π µ—Èß¡µ‘∏√√¡ Mr. Chuan Tangmatithamûs Group 2 ∫√‘…—∑ ‰∑¬‡ÕÁπ«’¥’Õ“√å ®”°—¥ Thai NVDR Co., Ltd. 3 CITIGROUP GLOBAL MARKETS INC.-1 CLIENT SEGREGATED ACCOUNT 4 MR.HENDRIK ROBERTUS CASTENDIJK 5 𓬪√–∑’ª µ—Èß¡µ‘∏√√¡ Mr. Prateep Tangmatitham 6 ∫√‘…—∑ ∫√‘À“√ ‘π∑√—æ¬å °√ÿ߇∑ææ“≥‘™¬å ®”°—¥ Bangkok Commercial Asset Management Co., Ltd. 7 CLARIDEN LEU AG 8 GOLDMAN SACHS & CO 9 MR. YUE KWOK-LEUNG 10 ∫√‘…—∑  “¡—§§’´’‡¡πµå ®”°—¥ Samakkee Cement Co., Ltd. °“√®—¥°“√ °“√ √√À“°√√¡°“√ °“√ √√À“®”π«π°√√¡°“√·≈–«‘∏°’ “√·µàßµ—ßÈ °√√¡°“√‰¥âªØ‘∫µ— ‡‘ ªìπ‰ª µ“¡¢âÕ∫—ߧ—∫¢Õß∫√‘…—∑œ ¥—ßπ’ȧ◊Õ ∫√‘…—∑¡’§≥–°√√¡°“√‰¡àπâÕ¬°«à“Àⓧπ ·≈–°√√¡°“√‰¡àπâÕ¬°«à“ °÷ËßÀπ÷ËߢÕß°√√¡°“√∑—ÈßÀ¡¥µâÕß¡’∂‘Ëπ∑’ËÕ¬Ÿà„π√“™Õ“≥“®—°√∑’˪√–™ÿ¡ºŸâ∂◊ÕÀÿâπ ‡≈◊Õ°µ—Èß°√√¡°“√µ“¡À≈—°‡°≥±å·≈–«‘∏’°“√¥—ßµàÕ‰ªπ’È 1. ºŸâ∂◊ÕÀÿâπ§πÀπ÷Ëß¡’§–·ππ‡ ’¬ß‡∑à“°—∫®”π«πÀÿâπ∑’˵π∂◊Õ §Ÿ≥¥â«¬ ®”π«π°√√¡°“√∑’Ë®–‡≈◊Õ°µ—Èß 2. ºŸâ∂◊ÕÀÿâπ·µà≈–§π®–µâÕß„™â§–·ππ‡ ’¬ß∑’Ë¡’Õ¬Ÿà∑—ÈßÀ¡¥µ“¡ (1) ‡≈◊Õ°µ—Èß∫ÿ§§≈§π‡¥’¬«À√◊ÕÀ≈“¬§π‡ªìπ°√√¡°“√°Á‰¥â „π°√≥’∑’Ë ‡≈◊Õ°µ—Èß∫ÿ§§≈À≈“¬§π®–·∫àߧ–·ππ‡ ’¬ß„Àⷰຟ℥¡“°πâÕ¬ ‡æ’¬ß„¥°Á‰¥â 3. ∫ÿ§§≈´÷ßË ‰¥â√∫— §–·ππ Ÿß ÿ¥µ“¡≈”¥—∫≈ß¡“ ‡ªìπºŸ‰â ¥â√∫— °“√‡≈◊Õ°µ—ßÈ ‡ªìπ°√√¡°“√‡∑à“®”π«π°√√¡°“√∑’Ë®–æ÷ß¡’À√◊Õ®–æ÷߇≈◊Õ°µ—Èß „π§√—Èßπ—Èπ „π°√≥’∫ÿ§§≈´÷Ë߉¥â√—∫°“√‡≈◊Õ°µ—Èß„π≈”¥—∫∂—¥≈ß¡“ ¡’§–·ππ‡ ’¬ß‡∑à“°—π‡°‘π®”π«π°√√¡°“√∑’Ë®–æ÷ß¡’ À√◊Õ®–æ÷ß ‡≈◊Õ°µ—Èß „π§√—Èßπ—Èπ„Àâ‡≈◊Õ°‚¥¬«‘∏’®—∫ ≈“° ‡æ◊ËÕ„À≥⮔π«π °√√¡°“√∑’Ë®–æ÷ß¡’ „π°“√ª√–™ÿ¡ºŸâ∂◊ÕÀÿâπ “¡—≠ª√–®”ªï∑ÿ°§√—Èß „Àâ°√√¡°“√ÕÕ°®“° µ”·Àπàß®”π«πÀπ÷Ëß„π “¡ °√√¡°“√∑’Ë®–µâÕßÕÕ°®“°µ”·Àπàß„πªï·√°∑’Ë ®¥∑–‡∫’¬π „Àâ°√√¡°“√∑’ËÕ¬Ÿà„πµ”·ÀπàßÕ¬à“ßµàÕ‡π◊ËÕßπ“π∑’Ë ÿ¥π—Èπ‡ªìπ ºŸâÕÕ°®“°µ”·Àπàß°àÕπ  à«πªïÀ≈—ßÊ µàÕ‰ª„Àâ°√√¡°“√∑’ËÕ¬Ÿà„πµ”·Àπàßπ“π ∑’Ë ÿ¥∂—¥‰ª‡ªìπºŸâÕÕ°®“°µ”·Àπàß °√√¡°“√´÷Ëßæâπ®“°µ”·Àπàßµ“¡¢âÕπ’È Õ“®‰¥â√—∫‡≈◊Õ°µ—Èß„À¡à‰¥â ‚¥¬„Àâ°√√¡°“√∑’ËÕÕ°®“°µ”·Àπàß√—°…“°“√„π µ”·Àπà߇æ◊ËÕ¥”‡π‘π°“√¢Õß∫√‘…—∑µàÕ‰ªæ≈“ß°àÕπ ‡∑à“∑’Ë®”‡ªìπ ®π°«à“ °√√¡°“√∑’ˉ¥â√—∫·µàßµ—Èß„À¡à®–‡¢â“√—∫Àπâ“∑’Ë

®”π«πÀÿπâ No. Of Shares

√âÕ¬≈–¢ÕßÀÿâπ∑—ÈßÀ¡¥ Percentage of Total

226,467,531

26.13%

129,378,824

14.93%

33,649,600 28,382,400

3.88% 3.27%

28,013,320

3.23%

27,000,000

3.12%

25,000,000 15,760,800 15,643,400

2.88% 1.82% 1.80%

14,400,000

1.66%

MANAGEMENT Selection of Directors The selection of persons to be appointed as a director depend on the companyûs regulations, detailed as follows:The Board of Directors must consists of no less than five members. At least half of all directors must have residence in the Kingdom of Thailand. The meeting of shareholdersû can vote for the directors in accordance with the rules and methods, here in below. 1. Each shareholdersû votes equal to his/her number of shares, multiplied by a number of directors to be elected. 2. The entire number of votes according to (1) of each shareholder must be used for electing person(s) to be the director(s). In case of voting for several candidates, votes can be variably divided among the candidates. 3. The candidates who receive the largest number of votes, in descending order, will be elected the directors. In case that there is a tie among candidates with an equal number of votes, the method of drawing lots will be utilized to gain the proper number of directors. In every annual general shareholdersû meeting, a-third of members of the board of directors shall be retired by rotation. In the first year, the directors with the longest continual serving will retire first, with the next-longest serving directors retiring in the subsequent years. Directors who are retired in this manner could be re-elected to resume the position. The existing board of directors will continue to operate as an interim board as necessary until the new board of directors assume the position. Annual Report 2009 M.K. Real Estate Development Plc.

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º—ß°“√∫√‘À“√ Organisation Chart §≥–°√√¡°“√ Board of Directors

°√√¡°“√∫√‘À“√ Executive Director

§≥–°√√¡°“√µ√«® Õ∫ Audit Committee

ª√–∏“π‡®â“Àπâ“∑’Ë∫√‘À“√ Chief Executive Officer

ºŸâµ√«® Õ∫¿“¬„π Internal Auditor

ΩÉ“¬®—¥´◊ÕÈ ·≈–∏ÿ√°“√ Purchasing & Admin. Department

ΩÉ“¬ª√–®” ”π—°°√√¡°“√ºŸâ®—¥°“√ Office of Managing Director Department

ΩÉ“¬∫ÿ§§≈ Personnel Department

ºŸâÕ”π«¬°“√™«π™◊Ëπ°Õ≈åø§≈—∫ Club Director-Chuanchuen Golf Club

ΩÉ“¬´àÕ¡∫”√ÿß π“¡°Õ≈åø Golf Course Maintenance Department

ΩÉ“¬°”°—∫µ√«® Õ∫∏ÿ√°‘®°Õ≈åø Golf Club-Audit Department

ΩÉ“¬µâÕπ√—∫·≈–∫√‘°“√ (∏ÿ√°‘®°Õ≈åø) Golf Club-Reception &Service Department

ºŸâ™à«¬°√√¡°“√ºŸâ®—¥°“√ “¬∫√‘À“√ Assistant Managing Director-Administation

ΩÉ“¬ª√–®” ”π—°√–∫∫¢âÕ¡Ÿ≈·≈–µ√«® Õ∫ Office of Information Systems & Audit Department

ΩÉ“¬√–∫∫¢âÕ¡Ÿ≈·≈–ª√–¡«≈º≈ Information Systems Department

ΩÉ“¬µ√«® Õ∫∑—«Ë ‰ª General Audit Department

ºŸâ™à«¬°√√¡°“√ºŸâ®—¥°“√ “¬ª√– “πß“π°àÕ √â“ß Assistant Managing Director-Construction Co-operation

ΩÉ“¬ª√– “πß“π°àÕ √â“ß Construction Co-operation Department

ΩÉ“¬ÕÕ°·∫∫ Design Department

ºŸâ™à«¬°√√¡°“√ºŸâ®—¥°“√ “¬°“√µ≈“¥ Assistant Managing Director-Marketing

ΩÉ“¬°“√µ≈“¥ Marketing Department

ΩÉ“¬ª√– “πß“π∑—Ë«‰ª Co-operation Department

ºŸâ™à«¬°√√¡°“√ºŸâ®—¥°“√ “¬æ—≤π“∏ÿ√°‘®-𑵑°√√¡ Assistant Managing Director-Business Development - Law

ΩÉ“¬æ—≤π“∏ÿ√°‘® Business Development

ΩÉ“¬π‘µ‘°√√¡ Law Department

ºŸâ™à«¬°√√¡°“√ºŸâ®—¥°“√ “¬∫—≠™’-°“√‡ß‘π Assistant Managing Diector Accounting - Finance

ΩÉ“¬∫—≠™’ Accounting Department

ΩÉ“¬°“√‡ß‘π Finance Department

ºŸâ®—¥°“√∑—Ë«‰ª‚§√ß°“√ Project General Manager

Àπ૬ߓπ™«π™◊Ëπø≈Õ√à“«‘≈≈å Chuan Chuen Flora Ville

Àπ૬ߓπ™«π™◊Ëπ°Õ≈åøÕ‡«π‘« Chuan Chuen Golf Avenue

ºŸâ®—¥°“√∑—Ë«‰ª‚§√ß°“√ Project General Manager

Àπ૬ߓπ™«π™◊Ëπ∫“ßπ“ Chuan Chuen Bangna

Àπ૬ߓπ ‘√’π‡Œâ“ å ∫“ßπ“ Serene House Bangna

ºŸâ®—¥°“√∑—Ë«‰ª‚§√ß°“√ Project General Manager

Àπ૬ߓπ™«π™◊Ëπæ√–√“¡2 Chuan Chuen Rama II

ºŸâ®—¥°“√∑—Ë«‰ª‚§√ß°“√ Project General Manager

Àπ૬ߓπ™«π™◊Ëπ√’‡®âπ∑å Chuan Chuen Regent

Àπ૬ߓπ™«π™◊Ëπª√–™“Õÿ∑‘» Chuan Chuen Pracha-Uthit

Àπ૬ߓπ™«π™◊Ëπ¡“√’πà“-√‘‡«Õ√剴µå Chuan Chuen Marina-Riverside

Àπ૬ߓπ™«π™◊Ëπ‚¡¥— ®√—≠œ-ªîòπ‡°≈â“ Chuan Chuen Modus Charan-Pinklao

Àπ૬ߓπ™«π™◊Ëπ«—™√æ≈ Chuan Chuen Watcharapol

Àπ૬ߓπ‡√ ´‘‡¥âπ∑åæ“√å§/°√’πæ“√å§ Residence Park / Green Park Chuan Chuen City

Àπ૬ߓπ™«π™◊Ëπ‚¡¥— ·®âß«—≤π– Chuan Chuen Modus Chang Wattana

Àπ૬ߓπ™«π™◊Ëπ‚¡¥— ‡´π‚∑√ Chuan Chuen Modus Centro

Àπ૬ߓπ™«π™◊Ëπ‡æ™√‡°…¡ Chuan Chuen Petchkasem

Àπ૬ߓπ™«π™◊πË ÕàÕππÿ™ Chuan Chuen Onnuch

ºŸâ®—¥°“√∑—Ë«‰ª‚§√ß°“√ Project General Manager

ºŸâ®—¥°“√∑—Ë«‰ª‚§√ß°“√ Project General Manager

16

ª√–∏“π°√√¡°“√∫√‘À“√ President

√“¬ß“πª√–®”ªï 2552 ∫√‘…—∑ ¡—Ëπ§ß‡§À–°“√ ®”°—¥ (¡À“™π)


ª√–«—µ‘§≥–°√√¡°“√·≈–ºŸâ∫√‘À“√ Board of Directors & Executive Officers 1. 𓬙«π µ—Èß¡µ‘∏√√¡ / Mr. Chuan Tangmatitham µ”·Àπàß / Position : ª√–∏“π°√√¡°“√∫√‘À“√ ·≈–ª√–∏“π‡®â“Àπâ“∑’Ë∫√‘À“√ President & Chief Executive Officer Õ“¬ÿ / Age : 73 ªï / Year «ÿ≤‘°“√»÷°…“ / Education : ª√‘≠≠“µ√’, Mini MBA Bachelor Degree / Mini MBA °“√Õ∫√¡À≈—° Ÿµ√°√√¡°“√ : DAP √ÿàπ 68/2008 (IOD) Director Accreditation Program DAP 68/2008 (IOD) ®”π«πÀÿâπ∑’Ë∂◊Õ / No. of Shares : 101,864,695 Àÿâπ / shares ‡ª≈’ˬπ·ª≈ß / Changes : - 4,700,000 ‡§¬¥”√ßµ”·Àπàß / Former : 𓬰 ¡“§¡∏ÿ√°‘®∫â“π®—¥ √√ 2  ¡—¬ President of Housing Business Association 2 times ª√– ∫°“√≥å°“√∑”ß“π„π√–¬– 5 ªï / Experience 5 Years 2548 - ªí®®ÿ∫—π / 2005 - Present : ∫¡®. ¡—Ëπ§ß‡§À–°“√ M.K. Real Estate Development Plc. : ∫®. ·¡π§Õπ Mancon Company Limited : ∫®. ¥Ÿ√“ø≈Õ√å Duraflor Corporated Company Limited : ∫®.  “¡—§§’´’‡¡πµå Samakkee Cement Company Limited : ∑’˪√÷°…“ ¡“§¡∏ÿ√°‘®∫â“π®—¥ √√ Advisor : Housing Business Association

2. 𓬠π—Ëπ »√’√ÿàß‚√®πå / Mr. Sanan Srirungrojana µ”·Àπàß / Position : °√√¡°“√Õ‘ √– ·≈–ª√–∏“π°√√¡°“√ √√À“ Independent Director / Chairman of Nominating Committee Õ“¬ÿ / Age : 73 ªï / Year «ÿ≤‘°“√»÷°…“ / Education : ª√‘≠≠“‚∑ Master Degree °“√Õ∫√¡À≈—° Ÿµ√°√√¡°“√ : DAP √ÿàπ 47/2005 (IOD) Director Accreditation Program DAP 47/2005 (IOD) ®”π«πÀÿâπ∑’Ë∂◊Õ / No. of Shares : ‡ª≈’ˬπ·ª≈ß / Changes : ‡§¬¥”√ßµ”·Àπàß / Former : √Õߪ≈—¥°√–∑√«ß§¡π“§¡ Deputy Permanent Secretary for Ministry of Transport & Communication : Õ∏‘∫¥’°√¡∑“ßÀ≈«ß °√–∑√«ß§¡π“§¡ The Director General of Department of Highways Ministry of Transport & Communications ª√– ∫°“√≥å°“√∑”ß“π„π√–¬– 5 ªï / Experience 5 Years 2551 - 2552 / 2008 - 2009 : ª√–∏“π°√√¡°“√ ∫√‘…—∑ ·Õ§¥Õπ ®”°—¥ Chairman of Boards ACDHON Co., Ltd. 2548 - 2552 / 2005 - 2009 : ª√–∏“π°√√¡°“√ ∫√‘…—∑ ‡Õ‡™’¬π‡§¡‘§Õ≈ ®”°—¥ Chairman of Boards Asian Chemical Co., Ltd. : ª√–∏“π°√√¡°“√ ∫√‘…∑— ‡Õ‡™’¬π‡§¡‘§Õ≈ ·Õπ¥å ‡ÕÁ𮑇π’¬√‘ßË ®”°—¥ Chairman of Boards Asian Chemical & Engineering Co., Ltd.

3. 𓬇°…¡ ±Ÿ√°ƒ…≥“ / Mr. Kasem Thurakisna µ”·Àπàß / Position : °√√¡°“√Õ‘ √–·≈–ª√–∏“π°√√¡°“√µ√«® Õ∫ Independent Director / Chairman of Audit Committee Õ“¬ÿ / Age : 73 ªï / Year «ÿ≤‘°“√»÷°…“ / Education : ª√‘≠≠“µ√’ : Bachelor Degree °“√Õ∫√¡À≈—° Ÿµ√°√√¡°“√ : DAP √ÿàπ 10/2004 (IOD) Director Accreditation Program DAP 10/2004 (IOD) ®”π«πÀÿâπ∑’Ë∂◊Õ / No. of Shares : ‡ª≈’ˬπ·ª≈ß / Changes : ª√– ∫°“√≥å°“√∑”ß“π„π√–¬– 5 ªï / Experience 5 Years 2548 - ªí®®ÿ∫—π / 2005 - Present :  ”π—°ß“π∫—≠™’·≈–°ÆÀ¡“¬ ‡®’¬√π—¬ Jearanai Law and Audit Office

4. π“ßÕ—≠™—π µ—Èß¡µ‘∏√√¡/ Mrs. Anchan Tangmatitham µ”·Àπàß / Position : °√√¡°“√ ·≈–°√√¡°“√∫√‘À“√ Director / Executive Director Õ“¬ÿ / Age : 71 ªï / Year «ÿ≤‘°“√»÷°…“ / Education : ¡—∏¬¡ 6 High School °“√Õ∫√¡À≈—° Ÿµ√°√√¡°“√ : DAP √ÿàπ 68/2008 (IOD) Director Accreditation Program DAP 68/2008 (IOD) ®”π«πÀÿâπ∑’Ë∂◊Õ / No. of Shares : 52,088,817 Àÿâπ / shares ‡ª≈’ˬπ·ª≈ß / Changes : + 3,850,000 ª√– ∫°“√≥å°“√∑”ß“π„π√–¬– 5 ªï / Experience 5 Years 2548 - ªí®®ÿ∫—π / 2005 - Present : ∫¡®. ¡—Ëπ§ß‡§À–°“√ M.K. Real Estate Development Plc.

Annual Report 2009 M.K. Real Estate Development Plc.

17


5. π“¬Õπ—πµå ÕÀ—π∑√‘° / Mr. Anan Ahandrik µ”·Àπàß / Position : °√√¡°“√Õ‘ √– / ª√–∏“π°√√¡°“√æ‘®“√≥“ §à“µÕ∫·∑π ·≈–°√√¡°“√µ√«® Õ∫ Independent Director / Chairman of Remuneration Committee / Audit Committee Õ“¬ÿ / Age : 75 ªï / Year «ÿ≤‘°“√»÷°…“ / Education : ª√‘≠≠“‚∑ / Master Degree °“√Õ∫√¡À≈—° Ÿµ√°√√¡°“√ : DAP √ÿàπ 10/2004 (IOD) Training of Course Director DAP 10/2004 (IOD) ®”π«πÀÿâπ∑’Ë∂◊Õ / No. of Shares : ‡ª≈’ˬπ·ª≈ß / Changes : ª√– ∫°“√≥å°“√∑”ß“π„π√–¬– 5 ªï / Experience 5 Years 2548 - ªí®®ÿ∫—π / 2005 - Present : ∫¡®. ¡—Ëπ§ß‡§À–°“√ M.K. Real Estate Development Plc. : ∑’˪√÷°…“ π“¡°Õ≈åø∏π“´‘µ’È Advisor : Thana City Golf and Country Club 7. ¥√. ªîß §ÿ≥–«—≤πå ∂‘µ¬å / Dr. Ping Kunawatsatit µ”·Àπàß / Position : °√√¡°“√Õ‘ √– ·≈–°√√¡°“√µ√«® Õ∫ Independent Director / Audit Committee Õ“¬ÿ / Age : 67 ªï / Year «ÿ≤‘°“√»÷°…“ / Education : ª√‘≠≠“‡Õ° / Doctor Degree °“√Õ∫√¡À≈—° Ÿµ√°√√¡°“√ : DAP √ÿàπ 10/2004 (IOD) Director Accreditation Program DAP 10/2004 (IOD) ®”π«πÀÿâπ∑’Ë∂◊Õ / No. of Shares : ‡ª≈’ˬπ·ª≈ß / Changes : ª√– ∫°“√≥å°“√∑”ß“π„π√–¬– 5 ªï / Experience 5 Years 2548 - ªí®®ÿ∫—π / 2005 - Present : °√√¡°“√Õ‘ √–·≈–°√√¡°“√µ√«® Õ∫ ∫¡®. ‡ÕÁπ·Õ≈ ¥’‡«≈≈Õª‡¡πµå Independent Director and Audit Director of N.L. Development PCL. : Õ“®“√¬å摇»… §≥–«‘»«°√√¡»“ µ√å ®ÿÓ≈ß°√≥å¡À“«‘∑¬“≈—¬ Visiting Professor of Faculty of Engineering, Chulalongkorn University : °√√¡°“√Õ‘ √–·≈–°√√¡°“√µ√«® Õ∫ ∫¡®. ·æ§ ‡¥≈µâ“ Independent Director and Audit Director, Remuneration Committee of PACK DELTA PCL. 9. π“¬≥—∞æ ∏√ ππ∑®‘µµå / Mr. Nuttplusthrone Nonthachit µ”·Àπàß / Position : °√√¡°“√ / ºŸâ™à«¬°√√¡°“√ºŸâ®—¥°“√ “¬∫√‘À“√ : Director / Assistant Managing Director-Administration Õ“¬ÿ / Age : 53 ªï / year «ÿ≤‘°“√»÷°…“ / Education : ª√‘≠≠“µ√’ , Mini MBA Bachelor Degree / Mini MBA °“√Õ∫√¡À≈—° Ÿµ√°√√¡°“√ : DAP √ÿàπ 5/2003 , DCP √ÿàπ 42/2004 (IOD) Director Accreditation Program DAP 5/2003 , DCP 42/2004 (IOD) ®”π«πÀÿâπ∑’Ë∂◊Õ / No. of Shares : 864 Àÿâπ / shares ‡ª≈’ˬπ·ª≈ß / Changes : ª√– ∫°“√≥å°“√∑”ß“π„π√–¬– 5 ªï / Experience 5 Years 2548 - ªí®®ÿ∫—π / 2005 - Present : ∫¡®. ¡—Ëπ§ß‡§À–°“√ M.K. Real Estate Development Plc.

18

√“¬ß“πª√–®”ªï 2552 ∫√‘…—∑ ¡—Ëπ§ß‡§À–°“√ ®”°—¥ (¡À“™π)

6. 𓬻—°¥‘Ï»√’ 惵‘∏√√¡°Ÿ≈ / Mr. Saksri Phurthamkul µ”·Àπàß / Position : °√√¡°“√ Director Õ“¬ÿ / Age : 71 ªï / Year «ÿ≤‘°“√»÷°…“ / Education : ª√‘≠≠“µ√’ / Bachelor Degree °“√Õ∫√¡À≈—° Ÿµ√°√√¡°“√ : DAP √ÿàπ 68/2008 (IOD) Training of Course Director DAP 68/2008 (IOD) ®”π«πÀÿâπ∑’Ë∂◊Õ / No. of Shares : ‡ª≈’ˬπ·ª≈ß / Changes : ª√– ∫°“√≥å°“√∑”ß“π„π√–¬– 5 ªï / Experience 5 Years 2548 - ªí®®ÿ∫—π / 2005 - Present : ∫¡®. ¡—Ëπ§ß‡§À–°“√ M.K. Real Estate Development Plc.

8. π“ßπ‘®¡“≈¬å 𓧉æ‚√®πå / Mrs. Nichamarn Nakpairoch µ”·Àπàß / Position : °√√¡°“√Õ‘ √– / Independent Director Õ“¬ÿ / Age : 59 ªï / Year «ÿ≤‘°“√»÷°…“ / Education : ª√‘≠≠“‚∑ / Master Degree °“√Õ∫√¡À≈—° Ÿµ√°√√¡°“√ : Director Accreditation Program ®”π«πÀÿâπ∑’Ë∂◊Õ / No. of Shares : ‡ª≈’ˬπ·ª≈ß / Changes : ª√– ∫°“√≥å°“√∑”ß“π„π√–¬– 5 ªï / Experience 5 Years 2551 - 2552 / 2008 - 2009 : ºŸâ™à«¬°√√¡°“√ºŸâ®—¥°“√„À≠à ∫√‘…∑— ‰∑¬·§ªªîµÕ≈§Õ√åªÕ‡√™—πË ®”°—¥(¡À“™π) Executive Vice President Thai Capital Corporation PCL. 2549 - 2551 / 2006 - 2008 : °√√¡°“√·≈–√Õß°√√¡°“√ºŸâ®—¥°“√„À≠à ∫√‘…—∑‡À≈Á°∫Ÿ√æ“Õÿµ “À°√√¡ ®”°—¥ Director and Vice President of Finance and Accounting BRP Steel Industries Co., Ltd. 2548 - 2549 / 2005 - 2006 : ºŸâÕ”π«¬°“√ “¬∫√‘À“√ ∫√‘…—∑  “√‘πæ√ÁÕæ‡æÕ√åµ’È ®”°—¥ Vice President of Finance and Accounting Sarin Property Co., Ltd. 10. π“¬√—™æß»å ·®à¡∏’√æ—π∏å / Mr. Ratchaphong Chaemteeraphan µ”·Àπàß / Position : ºŸ™â «à ¬°√√¡°“√ºŸ®â ¥— °“√ “¬ª√– “πß“π°àÕ √â“ß Assistant Managing Director-Construction Co-operation Õ“¬ÿ / Age : 70 ªï / year «ÿ≤‘°“√»÷°…“ / Education : ¡—∏¬¡ 6 : High School ®”π«πÀÿâπ∑’Ë∂◊Õ / No. of Shares : 618,504 Àÿâπ / shares ‡ª≈’ˬπ·ª≈ß / Changes : ª√– ∫°“√≥å°“√∑”ß“π„π√–¬– 5 ªï / Experience 5 Years 2548 - ªí®®ÿ∫—π / 2005 - Present : ∫¡®. ¡—Ëπ§ß‡§À–°“√ M.K. Real Estate Development Plc.


11. 𓬙Ÿ‡°’¬√µ‘ µ—Èß¡µ‘∏√√¡ / Mr. Chukiat Tangmatitham µ”·Àπàß / Position : °√√¡°“√ / ºŸ™â «à ¬°√√¡°“√ºŸ®â ¥— °“√ “¬°“√µ≈“¥ Director / Assistant Managing Director - Marketing Õ“¬ÿ / Age : 43 ªï / Year «ÿ≤‘°“√»÷°…“ / Education : ª√‘≠≠“‚∑ / Master Degree °“√Õ∫√¡À≈—° Ÿµ√°√√¡°“√ : Director Accreditation Program ®”π«πÀÿâπ∑’Ë∂◊Õ / No. of Shares : 5,400,556 Àÿâπ / shares ‡ª≈’ˬπ·ª≈ß / Changes : ª√– ∫°“√≥å°“√∑”ß“π„π√–¬– 5 ªï / Experience 5 Years 2548 - ªí®®ÿ∫—π / 2005 - Present : ∫¡®. ¡—Ëπ§ß‡§À–°“√ M.K. Real Estate Development Plc.

13. π“ß “«™ÿµ‘¡“ µ—Èß¡µ‘∏√√¡ / Miss. Chutima Tangmatitham µ”·Àπàß / Position : °√√¡°“√ / ºŸâ™à«¬°√√¡°“√ºŸâ®—¥°“√  “¬∫—≠™’ - °“√‡ß‘π : Director / Assistant Managing Director - Accounting - Finance Õ“¬ÿ / Age : 40 ªï / Year «ÿ≤‘°“√»÷°…“ / Education : ª√‘≠≠“‚∑ / Master Degree °“√Õ∫√¡À≈—° Ÿµ√°√√¡°“√ : DAP √ÿàπ 67/2007 Director Accreditation Program DAP 67/2007 ®”π«πÀÿâπ∑’Ë∂◊Õ / No. of Shares : 62,695,423 Àÿâπ / shares ‡ª≈’ˬπ·ª≈ß / Changes : + 1,210,000. ª√– ∫°“√≥å°“√∑”ß“π„π√–¬– 5 ªï / Experience 5 Years 2548 - ªí®®ÿ∫—π / 2005 - Present : ∫¡®. ¡—Ëπ§ß‡§À–°“√ M.K. Real Estate Development Plc. 15. 𓬪√–¿“  »ÿ¿ ÿ«√√≥°ÿ≈ / Mr. Prapas Suppasuwankul µ”·Àπàß / Position : ºŸâ®—¥°“√∑—Ë«‰ª‚§√ß°“√ : Project General Manager Õ“¬ÿ / Age : 48 ªï / Year «ÿ≤‘°“√»÷°…“ / Education : ª√‘≠≠“µ√’ / Bachelor Degree ®”π«πÀÿâπ∑’Ë∂◊Õ / No. of Shares : ‡ª≈’ˬπ·ª≈ß / Changes : ª√– ∫°“√≥å°“√∑”ß“π„π√–¬– 5 ªï / Experience 5 Years 2548 - ªí®®ÿ∫—π / 2005 - Present : ∫¡®. ¡—Ëπ§ß‡§À–°“√ M.K. Real Estate Development Plc. 17. 𓬠ÿ∑∏‘æß»å «—™√»»‘°ÿ≈ / Mr. Suttipong Watcharasasikul µ”·Àπàß / Position : ºŸâ®—¥°“√∑—Ë«‰ª‚§√ß°“√ Project General Manager Õ“¬ÿ / Age : 49 ªï / Year «ÿ≤‘°“√»÷°…“ / Education : ª√‘≠≠“µ√’ / Bachelor Degree ®”π«πÀÿâπ∑’Ë∂◊Õ / No. of Shares : ‡ª≈’ˬπ·ª≈ß / Changes : ª√– ∫°“√≥å°“√∑”ß“π„π√–¬– 5 ªï / Experience 5 Years 2549 - ªí®®ÿ∫—π / 2006 - Present : ∫¡®. ¡—Ëπ§ß‡§À–°“√ M.K. Real Estate Development Plc. 2548 - 2549 / 2005 - 2006 : ∫®. ´’§Õπ / Seacon Co., Ltd.

12 π“ß “«π¿“æ√ °¡≈»—°¥“«‘°≈ÿ / Miss. Napaporn Kamonsakdavikul µ”·Àπàß / Position : °√√¡°“√ / ºŸâ™à«¬°√√¡°“√ºŸâ®—¥°“√  “¬æ—≤π“∏ÿ√°‘®-𑵑°√√¡ : Director / Assistant Managing DirectorBusiness Development - Law Õ“¬ÿ / Age : 50 ªï / Year «ÿ≤‘°“√»÷°…“ / Education : ª√‘≠≠“µ√’ / Bachelor Degree °“√Õ∫√¡À≈—° Ÿµ√°√√¡°“√ : DAP √ÿàπ 20/2004 (IOD) Director Accreditation Program DAP 20/2004 (IOD) ®”π«πÀÿâπ∑’Ë∂◊Õ / No. of Shares : ‡ª≈’ˬπ·ª≈ß / Changes : ª√– ∫°“√≥å°“√∑”ß“π„π√–¬– 5 ªï / Experience 5 Years 2548 - ªí®®ÿ∫—π / 2005 - Present : ∫¡®. ¡—Ëπ§ß‡§À–°“√ M.K. Real Estate Development Plc. 14 π“ß “«·««µ“ ‡Õ°Õÿ¥¡∏π–°ÿ≈ / Miss. Waewta Akudomthanakul µ”·Àπàß / Position : ºŸâ®—¥°“√∑—Ë«‰ª‚§√ß°“√ : Project General Manager Õ“¬ÿ / Age : 50 ªï / Year «ÿ≤‘°“√»÷°…“ / Education : ª√‘≠≠“µ√’ / Bachelor Degree ®”π«πÀÿâπ∑’Ë∂◊Õ / No. of Shares : ‡ª≈’ˬπ·ª≈ß / Changes : ª√– ∫°“√≥å°“√∑”ß“π„π√–¬– 5 ªï / Experience 5 Years 2548 - ªí®®ÿ∫—π / 2005 - Present : ∫¡®. ¡—Ëπ§ß‡§À–°“√ M.K. Real Estate Development Plc.

16. π“¬∏√√» °µ‘°“«ß»å¢®√ / Mr. Tath Katikavongkachorn µ”·Àπàß / Position : ºŸâ®—¥°“√∑—Ë«‰ª‚§√ß°“√ Project General Manager Õ“¬ÿ / Age : 51 ªï / Year «ÿ≤‘°“√»÷°…“ / Education : ª√‘≠≠“µ√’ / Bachelor Degree ®”π«πÀÿâπ∑’Ë∂◊Õ / No. of Shares : ‡ª≈’ˬπ·ª≈ß / Changes : ª√– ∫°“√≥å°“√∑”ß“π„π√–¬– 5 ªï / Experience 5 Years 2548 - ªí®®ÿ∫—π / 2005 - Present : ∫¡®. ¡—Ëπ§ß‡§À–°“√ M.K. Real Estate Development Plc. 18 π“¬Õ√à“¡ ≈◊Õæ√âÕ¡™—¬ / Mr. Aram Lurpromchai µ”·Àπàß / Position : ºŸâ®—¥°“√∑—Ë«‰ª‚§√ß°“√ Project General Manager Õ“¬ÿ / Age : 46 ªï / Year «ÿ≤‘°“√»÷°…“ / Education : ª√‘≠≠“µ√’ / Bachelor Degree ®”π«πÀÿâπ∑’Ë∂◊Õ / No. of Shares : ‡ª≈’ˬπ·ª≈ß / Changes : ª√– ∫°“√≥å°“√∑”ß“π„π√–¬– 5 ªï / Experience 5 Years 2550 - ªí®®ÿ∫—π / 2007 - Present : ∫¡®. ¡—Ëπ§ß‡§À–°“√ M.K. Real Estate Development Plc. 2548 - 2550 / 2005 - 2007 : ∫¡®.‡Õ ´’ ·Õ ‡ ∑ §Õ√åªÕ‡√™—Ëπ Asset Coporation Plc. Annual Report 2009 M.K. Real Estate Development Plc.

19


§à“µÕ∫·∑πºŸâ∫√‘À“√ / °“√ª√–™ÿ¡§≥–°√√¡°“√∫√‘…—∑ Management Remuneration / Board of Directorûs Meeting 1. §à“µÕ∫·∑π‡ªìπµ—«‡ß‘π / Monetary Remuneration §à“µÕ∫·∑π„π∞“π–°√√¡°“√∫√‘…—∑ / Directorûs Remuneration

√“¬™◊ËÕ§≥–°√√¡°“√

1. 2. 3. 4. 5. 6. 7. 8. 9. 10. 11. 12.

𓬙«π µ—Èß¡µ‘∏√√¡ 𓬠π—Ëπ »√’√ÿàß‚√®πå 𓬇°…¡ ±Ÿ√°ƒ…≥“ π“ßÕ—≠™—π µ—Èß¡µ‘∏√√¡ π“¬Õπ—πµå ÕÀ—π∑√‘° 𓬻—°¥‘Ï»√’ æƒ≤‘∏√√¡°Ÿ≈ π“¬≥—∞æ ∏√ ππ∑®‘µµå 𓬙Ÿ‡°’¬√µ‘ µ—Èß¡µ‘∏√√¡ π“ß “«π¿“æ√ °¡≈»—°¥“«‘°ÿ≈ π“ß “«™ÿµ‘¡“ µ—Èß¡µ‘∏√√¡ ¥√. ªîß §ÿ≥–«—≤πå ∂‘µ¬å π“ßπ‘®¡“≈¬å 𓧉æ‚√®πå

13. 𓬪√–°“¬æƒ°…å »√ÿµ“ππ∑å

Directorûs Name

Mr. Chuan Tangmatitham Mr. Sanan Srirungrojana Mr. Kasem Thurakisna Mrs. Anchan Tangmatitham Mr. Anan Ahandrilk Mr. Suksri Phurthamkul Mr. Nuttplusthrone Nonthachit Mr. Chukiat Tangmatitham Miss Napaporn Kamonsakdavikul Miss Chutima Tangmatitham Dr. Ping Kunawatsatit Mrs. Nichamarn Nakpairoch

ªï 2552 ¡’°“√ª√–™ÿ¡∑—ÈßÀ¡¥ 4 §√—Èß §à“µÕ∫·∑π√«¡ (∫“∑) ®”π«π§√—Èß„π°“√‡¢â“ª√–™ÿ¡ Total Remuneration (Baht) In 2009, Total of four meetings Participation 245,000.00 4 255,000.00 4 310,000.00 4 245,000.00 4 275,000.00 4 245,000.00 4 245,000.00 4 245,000.00 4 250,000.00 4 250,000.00 4 270,000.00 3 15,000.00 3

Mr. Prakaiproek Srutanond

225,000.00

ÕÕ°µ“¡«“√–ªï 2552 / Retired in 2009

À¡“¬‡Àµÿ : §à“µÕ∫·∑π°√√¡°“√Õ¬Ÿà„π√Ÿª‡∫’Ȭª√–™ÿ¡ ·≈–∫”‡ÀπÁ®°√√¡°“√ Note : Directorûs Remuneration is Meeting Allowance and Directorûs Annual Payment §à“µÕ∫·∑π„π∞“π–°√√¡°“√∫√‘À“√·≈–ºŸâ∫√‘À“√ / Executiveûs Remuneration

‡ß‘π‡¥◊Õπ / Salary ‚∫π— / Bonus §à“µÕ∫·∑πÕ◊Ëπ / Other Remuneration √«¡ / Total

®”π«π√“¬ / Person 12 12 7 12

®”π«π‡ß‘π (∫“∑) / Amonunt (Baht) 13,885,755.00 18,048,288.00 338,880.00 32,272,923.00

À¡“¬‡Àµÿ : §à“µÕ∫·∑πÕ◊Ëπ À¡“¬∂÷ß Car Allowance Note : Other Remuneration is Car Allowance 2. §à“µÕ∫·∑πÕ◊ËπÊ (∂â“¡’) / Othe Remuneration ‘∑∏‘´◊ÈÕÀÿâπ À√◊ÕÀ≈—°∑√—æ¬åÕ◊Ëπ - ‰¡à¡’ Stock option - None °Õß∑ÿπ ”√Õ߇≈’Ȭߙ’æ - ‰¡à¡’ Provident Fund - None ‡ß‘π∫”‡ÀπÁ® : µ“¡Õ“¬ÿß“π∑’Ë°”Àπ¥„π√–‡∫’¬∫∫√‘…—∑œ Retired Payment : Depend on no. of working years which are settled in Companyûs Regulations.

20

√“¬ß“πª√–®”ªï 2552 ∫√‘…—∑ ¡—Ëπ§ß‡§À–°“√ ®”°—¥ (¡À“™π)


°“√¥Ÿ·≈°“√„™â¢âÕ¡Ÿ≈¿“¬„π Control of Inside Information Exploitation ∫√‘…—∑œ ¡’π‚¬∫“¬·≈–«‘∏’°“√„π°“√¥Ÿ·≈ºŸâ∫√‘À“√„π°“√π”¢âÕ¡Ÿ≈¿“¬ „π∫√‘…—∑œ ‰ª„™â‡æ◊ËÕª√–‚¬™πå à«πµπ √«¡∑—È߇æ◊ËÕ°“√´◊ÈÕ¢“¬À≈—°∑√—æ¬å„π √–À«à“ß∑’ËÀ≈—°∑√—æ¬å¢Õß∫√‘…—∑ ‡ªìπÀ≈—°∑√—æ¬å®¥∑–‡∫’¬π¡’√“¬≈–‡Õ’¬¥ ¥—ßπ’È

The Company has a policy and practices to control the executives regarding the exploitation of inside information for personal benefit, including securities trading while the Company is being listed. Details are as follow :-

1.

1.

ºŸâ∫√‘À“√®–®—¥∑”·≈– àß√“¬ß“π°“√∂◊ÕÀ≈—°∑√—æ¬å¢Õßµπ§Ÿà ¡√ ·≈– ∫ÿµ√∑’ˬ—߉¡à∫√√≈ÿ𑵑¿“«– µ“¡·∫∫∑’Ë°”Àπ¥„π¢âÕ∫—ߧ—∫«à“¥â«¬°“√ √“¬°“√∂◊ÕÀ≈—°∑√—æ¬å ·≈– àß ”‡π“√“¬ß“π„Àâ·°à∫√‘…—∑œ „π«—π‡¥’¬« °—∫«—π∑’Ë àß√“¬ß“πµàÕ ”π—°ß“π °≈µ. ·≈–µ≈“¥À≈—°∑√—æ¬å ∑—Èßπ’È ¿“¬„π√–¬–‡«≈“¥—ßµàÕ‰ªπ’È ë √“¬ß“π°“√∂◊ÕÀ≈—°∑√—æ¬å§√—Èß·√° (·∫∫ 59-1) ¿“¬„π 30 «—π

ë The initial securities holding report (Form 59-1) within 30 days since

π—∫·µà«—πªî¥°“√‡ πÕ¢“¬À≈—°∑√—æ¬åµàÕª√–™“™π À√◊Õ«—π∑’ˉ¥â√—∫ °“√·µàßµ—Èß„À⥔√ßµ”·Àπà߇ªìπºŸâ∫√‘À“√

the public offering of the day appointed as executive.

ë √“¬ß“π°“√‡ª≈’ˬπ·ª≈ßÀ≈—°∑√—æ¬å (·∫∫ 59-2) ∑ÿ°§√—Èß ‡¡◊ËÕ¡’

ë The report of change in securities holding (Form 59-2) within 3 days

°“√´◊ÈÕ ¢“¬ ‚Õπ À√◊Õ√—∫‚ÕπÀ≈—°∑√—æ¬å ∑—Èßπ’È¿“¬„π 3 «—π∑”°“√ π—∫·µà«—π∑’Ë¡’°“√´◊ÈÕ ¢“¬ ‚Õπ À√◊Õ√—∫‚ÕπÀ≈—°∑√—æ¬åπ—Èπ 2.

∫√‘…—∑œ ‰¥â àßÀπ—ß ◊Õ‡«’¬π·®âß„À⺟â∫√‘À“√∑√“∫«à“ ºŸâ∫√‘À“√∑’ˉ¥â√—∫ ∑√“∫¢âÕ¡Ÿ≈¿“¬„π®–µâÕß√–ß—∫°“√´◊ÈÕÀ√◊Õ¢“¬ À≈—°∑√—æ¬å¢Õß∫√‘…—∑œ ‚¥¬‡©æ“– 30 «—π°àÕπ∑’Ë∫√‘…—∑œ ®–∑”°“√ª√–°“»º≈°“√¥”‡π‘πß“π (ß∫°“√‡ß‘π√“¬‰µ√¡“ ·≈–√“¬ªï) À√◊Õ¢âÕ¡Ÿ≈¢à“« “√∑’ˇªìπ “√–  ”§—≠µàÕª√–™“™π∑—Ë«‰ª ´÷Ëß¡’º≈µàÕ°“√‡ª≈’ˬπ·ª≈ß√“§“À≈—°∑√—æ¬å

∫√‘…∑— œ ®–„™â∫∑≈ß‚∑… Ÿß ÿ¥ À“°æ∫«à“ºŸ∫â √‘À“√‰¥â„™â¢Õâ ¡Ÿ≈¿“¬„π À√◊Õ ¡’§«“¡ª√–惵‘∑’Ë àÕ‰ª„π∑“ß∑’Ë®–∑”„Àâ∫√‘…—∑œ‰¥â√—∫§«“¡‡ ◊ËÕ¡‡ ’¬·≈– §«“¡‡ ’¬À“¬

Each executive will submit securities holding report of oneself, spouse and juvenile children according to the relevant regulations. A copy of the report is to be submitted to the Company on the same day that such report is submitted to the SEC and SET in the following time frames :-

of every transaction of securities trading of transfer.

2.

The Company had a memorandum notifying executive that each executive cognizant of internal information must refrain from companyûs securities trading, especially within 30 days before the announcement of operating results (quarterly and annual financial statements) or any significant disclosure to public which affects the stock price.

Maximum penalties would be imposed if any executive is found to have exploited internal information or inclined to cause damage to the Company.

Annual Report 2009 M.K. Real Estate Development Plc.

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°“√°”°—∫¥Ÿ·≈°‘®°“√ Corporate Governance Report °“√ªØ‘∫—µ‘µ“¡À≈—°°“√°”°—∫¥Ÿ·≈°‘®°“√∑’Ë¥’ §≥–°√√¡°“√∫√‘…∑— ¡—πË §ß‡§À–°“√ ®”°—¥ (¡À“™π) ¡’π‚¬∫“¬ à߇ √‘¡ „Àâ∫√‘…—∑œ ‡ªìπÕߧå°√∑’Ë¡’ª√– ‘∑∏‘¿“æ „π°“√¥”‡π‘π∏ÿ√°‘® ¡’°“√°”°—∫¥Ÿ·≈ °‘®°“√∑’Ë¥’ ·≈–¡’°“√∫√‘À“√®—¥°“√∑’Ë¥’ ‚¥¬¡ÿà߇πâπ°“√ √â“ߪ√–‚¬™πå Ÿß ÿ¥ ·°àºŸâ∂◊ÕÀÿâπ ºŸâ¡’ à«π‰¥â‡ ’¬ ¬÷¥¡—Ëπ§ÿ≥∏√√¡ ®√‘¬∏√√¡ „π°“√¥”‡π‘π∏ÿ√°‘® ¡’°“√‡ªî¥‡º¬¢âÕ¡Ÿ≈∑’¡Ë §’ «“¡∂Ÿ°µâÕß  ¡∫Ÿ√≥å ·≈–‚ª√àß„   “¡“√∂µ√«® Õ∫‰¥â ´÷Ë߉¥â°”À𥇪ìππ‚¬∫“¬¥â“π°“√°”°—∫¥Ÿ·≈°‘®°“√∑’Ë¥’ ‡æ◊ËÕ„Àâ§≥–°√√¡°“√ ∫√‘…—∑ ºŸâ∫√‘À“√ ·≈–æπ—°ß“π¬÷¥∂◊Õ‡ªìπ·π«∑“ß„π°“√ªØ‘∫—µ‘ß“π¥—ßπ’È 1. §≥–°√√¡°“√∫√‘…—∑œ ºŸâ∫√‘À“√ ·≈–æπ—°ß“π∑ÿ°§π¡ÿàß¡—Ëπ∑’Ë®–π”‡Õ“ À≈—° ”§—≠„π°“√°”°—∫¥Ÿ·≈°‘®°“√∑’Ë¥’ ‰¥â·°à ë  ‘∑∏‘¢ÕߺŸâ∂◊ÕÀÿâπ ·≈–°“√ªØ‘∫—µ‘µàÕºŸâ∂◊ÕÀÿâπÕ¬à“߇∑à“‡∑’¬¡°—π ë ∫∑∫“∑¢ÕߺŸâ¡’ à«π‰¥â‡ ’¬ §«“¡√—∫º‘¥™Õ∫¢Õߧ≥–°√√¡°“√ ë §«“¡πà“‡™◊ËÕ∂◊Õ¢ÕߢâÕ¡Ÿ≈ °“√‡ªî¥‡º¬¢âÕ¡Ÿ≈·≈–§«“¡‚ª√àß„  ë «‘ —¬∑—»πå∑’Ë¥’ ·≈–®√‘¬∏√√¡Õߧå°√ ¡“„™â„π°“√¥”‡π‘πß“π∑’¡Ë ‚’ §√ß √â“ß°“√∫√‘À“√ß“π∑’¡Ë §’ «“¡ —¡æ—π∏å°π— √–À«à“ß §≥–°√√¡°“√, ºŸâ∫√‘À“√ ·≈–ºŸâ∂◊ÕÀÿâπ ºŸâ¡’ à«π‰¥â‡ ’¬ Õ¬à“ß ‡ªìπ∏√√¡ 2. §≥–°√√¡°“√∫√‘…∑— œ ¡’∫∑∫“∑ ”§—≠„π°“√°”Àπ¥°≈¬ÿ∑∏å π‚¬∫“¬ „π°“√∫√‘À“√ß“π ·≈–·ºπß“π∑’Ë ”§—≠¢Õß∫√‘…—∑œ ‚¥¬®–µâÕß æ‘®“√≥“∂÷ßªí®®—¬‡ ’Ë¬ß ¡’π‚¬∫“¬∫√‘À“√§«“¡‡ ’Ë¬ß ·≈–«“ß·π«∑“ß °“√∫√‘À“√®—¥°“√∑’Ë¥’¡’ª√– ‘∑∏‘¿“æ ·≈–µâÕߥ”‡π‘π°“√‡æ◊ËÕ„À⇰‘¥ §«“¡¡—Ëπ„®«à“√–∫∫∫—≠™’ √“¬ß“π∑“ß°“√‡ß‘π ·≈–°“√ Õ∫∫—≠™’ ¡’§«“¡∂Ÿ°µâÕßπà“‡™◊ËÕ∂◊Õ 3. §≥–°√√¡°“√∫√‘…—∑œ ®–ªØ‘∫—µ‘Àπâ“∑’˥⫬§«“¡‡Õ“„®„ à ∑ÿࡇ∑ ·≈– √—∫º‘¥™Õ∫ ¡’¿“«–ºŸâπ” «‘ —¬∑—»πå ¡’§«“¡‡ªìπÕ‘ √–„π°“√µ—¥ ‘π„® ‡æ◊ËÕª√–‚¬™πå Ÿß ÿ¥¢Õß∫√‘…—∑œ ·≈–ºŸâ∂◊ÕÀÿâπ‚¥¬√«¡ ·≈–¡’√–∫∫°“√ ®—¥·∫àß∫∑∫“∑ Àπâ“∑’Ë §«“¡√—∫º‘¥™Õ∫∑’™Ë ¥— ‡®π√–À«à“ߧ≥–°√√¡°“√ ∫√‘…—∑œ ·≈–ΩÉ“¬®—¥°“√ ·≈–√–À«à“ߪ√–∏“π°√√¡°“√ °—∫ ª√–∏“π °√√¡°“√∫√‘À“√ À√◊Õ °√√¡°“√ºŸâ®—¥°“√ ÕÕ°®“°°—πÕ¬à“ß™—¥‡®π´÷Ëß ºŸâ∑’Ë®–¥”√ßµ”·Àπàߪ√–∏“π°√√¡°“√ ‚¥¬®–æ‘®“√≥“®“°°√√¡°“√ Õ‘ √–‡ªì𠔧—≠ 4.

§≥–°√√¡°“√‰¥â¡’°“√°”Àπ¥À≈—°ªØ‘∫—µ‘‡°’ˬ«°—∫Àπâ“∑’˧«“¡√—∫ º‘¥™Õ∫ ·≈–À≈—°ªØ‘∫—µ‘∑“ß®√‘¬∏√√¡¢ÕߺŸâ∫√‘À“√ ·≈–æπ—°ß“π¢Õß ∫√‘…—∑œ ‡æ◊ËÕ„Àâ¬÷¥∂◊Õ‡ªìπÀ≈—°ªØ‘∫—µ‘‚¥¬‡§√àߧ√—¥ „À⧫“¡ ”§—≠°—∫ ≈Ÿ°§â“ ∂◊Õ«à“≈Ÿ°§â“‡ªìπ∫ÿ§§≈ ”§—≠ ‚¥¬ àß¡Õ∫ ‘π§â“∑’Ë¡’§ÿ≥¿“扥⠡“µ√∞“π „Àâ°“√∫√‘°“√À≈—ß°“√¢“¬∑’¥Ë ’ ¥â«¬§«“¡´◊ÕË  —µ¬å ·≈–¬ÿµ∏‘ √√¡

5.

§≥–°√√¡°“√∫√‘…—∑ ®–¡’°“√æ‘®“√≥“·µàßµ—Èߧ≥–Õπÿ°√√¡°“√ ™ÿ¥¬àÕ¬‡©æ“–°‘®µ“¡§«“¡‡À¡“– ¡‡æ◊Ëՙ૬摮“√≥“°≈—Ëπ°√Õßß“π Õ¬à“ß≈–‡Õ’¬¥ √Õ∫§Õ∫ ‡æ◊ËÕª√–‚¬™πå Ÿß ÿ¥¢Õß∫√‘…—∑œ

22

√“¬ß“πª√–®”ªï 2552 ∫√‘…—∑ ¡—Ëπ§ß‡§À–°“√ ®”°—¥ (¡À“™π)

Good Corporate Governance The Board of Directors of M.K.Real Estate Development Public Company Limited has implemented the policy to promote the company to be the efficient company for business operations, have the good corporate governance, and have good management by emphasizing on the maximization of benefits to shareholders, stakeholders, committing to the moral principles and business ethics, and disclosing the accurate, complete, and transparent information. The company has identified the good corporate governance policy in order to be the guidelines for the Board of Directors, executives, and employees as follows. 1. The Board of Directors, executives, and employees have committed to apply the good corporate governance principle, namely, ë Shareholdersû right and treating shareholders with equality. ë Role of stakeholders and responsibilities of the Board of Directors ë Reliability of information, disclosure of information, and transparency ë Good vision and organizational ethics into the business operations with the fair management structure among Board of Directors, executives, shareholders, and stakeholders. 2. The Board of Directors has played an important role in identifying the strategy, policy for business operations, and major companyûs action plans by considering from the risk factors, risk management policies, and setting the efficient management guidelines. The Board of Directors must ensure that the accounting system, financial report and auditing are accurate and reliable. 3. The Board of Directors has performed the duties with care, dedication, and responsibilities. The Board must have leadership, vision, and freedom of decision-making in order to maximize the companyûs benefits and the overall shareholders, and must implement the system to classify the clear and separate roles, duties, and responsibilities between the Board of Directors and the management, and among Chairman of the Board of Directors, Chairman of Executive Board or Managing Director and the Chairman of the Board of Directors must be mainly considered from independent directors. 4. The Board of Directors has identified the principle regarding the duties and responsibilities, and moral principles, of companyûs executives and employees and such executives and employees must strictly follow according to the principles. The Board of Directors must pay attention to customers and must view customers as the important persons by delivering the qualified and standardized products and pleasant after-sale services with honesty and fairness. 5. The Board of Directors has considered the appointment of subcommittees as appropriate in order to thoroughly and deliberately screen any works to maximize the companyûs benefits.


6.

¡’°“√‡ªî¥‡º¬¢âÕ¡Ÿ≈ “√ π‡∑» ¢Õß∫√‘…—∑œ ∑—Èß„π‡√◊ËÕß∑“ß°“√‡ß‘π ·≈–∑’ˉ¡à„™à¢âÕ¡Ÿ≈∑“ß°“√‡ß‘πÕ¬à“߇撬ßæÕ ‡™◊ËÕ∂◊Õ‰¥â ∑—πµàÕ‡Àµÿ°“√≥å ‡æ◊ËÕ„À⺟â∂◊ÕÀÿâπ ºŸâ¡’ à«π‰¥â‡ ’¬¢Õß∫√‘…—∑œ ‰¥â√—∫¢à“« “√  “√ π‡∑» Õ¬à“߇∑à“‡∑’¬¡°—π ¡’Àπ૬ߓπ∑’Ë√—∫º‘¥™Õ∫„π‡√◊ËÕß°“√„Àâ¢âÕ¡Ÿ≈°—∫ π—°≈ß∑ÿπ ·≈–ª√–™“™π∑—Ë«‰ª ºŸâ∂◊ÕÀÿâπ∫√‘…—∑œ ®–‰¥â√—∫°“√ªØ‘∫—µ‘Õ¬à“߇∑à“‡∑’¬¡°—π ¡’ ‘∑∏‘„π°“√ ‡¢â“∂÷ߢâÕ¡Ÿ≈ “√ π‡∑» ·≈–¡’™àÕß∑“ß„π°“√ ◊ËÕ “√°—∫∫√‘…—∑∑’Ë ‡À¡“– ¡ ®—¥„Àâ¡’™àÕß∑“ß ”À√—∫ºŸâ∂◊ÕÀÿâπ„π°“√‡ πÕ™◊ËÕ°√√¡°“√ °àÕπ°“√ª√–™ÿ¡ “¡—≠ª√–®”ªï ·≈–®—¥„Àâ¡’™àÕß∑“ß ”À√—∫ºŸâ∂◊ÕÀÿâπ ‡ πÕ«“√–∑’˵âÕß°“√‡æ◊ËÕæ‘®“√≥“π”‡¢â“ Ÿà∑’˪√–™ÿ¡ºŸâ∂◊ÕÀÿâπ

6.

§≥–°√√¡°“√∫√‘ … — ∑ œ ‰¥â ° ”À𥫓√–°“√¥”√ßµ”·Àπà ß ¢Õß °√√¡°“√Õ‘ √–‰«âÕ¬à“ß™—¥‡®π ‚¥¬°”Àπ¥°√√¡°“√Õ‘ √–®–¥”√ß µ”·Àπà߉¡à‡°‘π 3 «“√–µ‘¥µàÕ°—π §≥–°√√¡°“√∫√‘…—∑œ ¡’°“√°”Àπ¥ ®”°—¥®”π«π∫√‘…—∑∑’Ë°√√¡°“√ ·µà ≈ –§π®–¥”√ßµ”·Àπà ß °√√¡°“√‰«â ·≈–¡’ ° “√°”Àπ¥π‘ ¬ “¡ §ÿ≥ ¡∫—µ‘¢Õß°√√¡°“√Õ‘ √–‰«âÕ¬à“ß™—¥‡®π ´÷Ëß°√√¡°“√·µà≈–§π®– ¥”√ßµ”·Àπàß°√√¡°“√„π∫√‘…—∑®¥∑–‡∫’¬π‰¡à‡°‘π§π≈– 5 ∫√‘…—∑

8.

10. ¡’¢—ÈπµÕπ °“√§—¥‡≈◊Õ°∫ÿ§≈“°√∑’Ë¡’§ÿ≥ ¡∫—µ‘∑’ˇÀ¡“– ¡ ‡¢â“¡“ √—∫º‘¥™Õ∫„πµ”·Àπàß∫√‘À“√∑’Ë¡’§«“¡ ”§—≠∑ÿ°√–¥—∫Õ¬à“߇À¡“– ¡ ·≈–¡’°√–∫«π°“√ √√À“∑’Ë‚ª√àß„  ¬ÿµ‘∏√√¡ ¡’π‚¬∫“¬¥â“π°“√ æ— ≤ π“∫ÿ § ≈“°√®— ¥ „Àâ ¡ ’ ° “√Õ∫√¡Õ¬à “ ßµà Õ ‡π◊ Ë Õ ß ‡æ◊ Ë Õ ‡ √‘ ¡  √â “ ß ∫ÿ§≈“°√„Àâ¡’ª√– ‘∑∏‘¿“æ‡æ‘Ë¡¢÷Èπ 11. §≥–°√√¡°“√∫√‘…—∑œ µâÕß®—¥„Àâ¡’°“√ª√–‡¡‘πº≈ß“πª√–®”ªï ‡æ◊ËÕ„™â ‡ªìπ°√Õ∫„π°“√µ√«® Õ∫°“√ªØ‘∫—µ‘Àπâ“∑’Ë¢Õߧ≥–°√√¡°“√

10.

12. ∫√‘…—∑œ ‰¥â¡’°“√·µàßµ—ÈߺŸâ¥”√ßµ”·Àπà߇≈¢“πÿ°“√∫√‘…—∑ ´÷Ëß∑”Àπâ“∑’Ë „À⧔·π–π”¥â“π°ÆÀ¡“¬ ·≈–°Æ‡°≥±åµà“ßÊ ∑’˧≥–°√√¡°“√®– µâÕß∑√“∫ √«¡∂÷ߪ√– “πß“π„Àâ¡’°“√ªØ‘∫—µ‘µ“¡¡µ‘§≥–°√√¡°“√ ·≈–°“√ªØ‘∫—µ‘µ“¡°Æ√–‡∫’¬∫∑’ˇ°’ˬ«¢âÕß 13. ∫√‘…—∑œ ‰¥â¡’°“√°”Àπ¥π‚¬∫“¬∑’˧”π÷ß∂÷ߧ«“¡ª≈Õ¥¿—¬  «— ¥‘°“√ ·≈– ‘∑∏‘ª√–‚¬™πå¢Õßæπ—°ß“π ‚¥¬¡’√–∫ÿ„π√–‡∫’¬∫°“√∫√‘À“√ß“π ∫ÿ§≈“°√ (§Ÿà¡◊Õæπ—°ß“π) „π‡√◊ËÕß  «— ¥‘°“√·≈–º≈ª√–‚¬™πå  ”À√—∫ æπ—°ß“𠇙àπ §à“√—°…“欓∫“≈,  «— ¥‘°“√µà“ßÊ ·≈–‡ß‘π∫”‡ÀπÁ® Õ—π‡π◊ËÕß¡“®“°‡°…’¬≥Õ“¬ÿß“π ·≈–°“√≈“ÕÕ° ‡ªìπµâπ π‚¬∫“¬‡°’ˬ«°—∫°“√°”°—∫¥Ÿ·≈°‘®°“√ §≥–°√√¡°“√‰¥â°”Àπ¥π‚¬∫“¬‡°’ˬ«°—∫°“√°”°—∫¥Ÿ·≈°‘®°“√∑’Ë¥’ ‡π◊ËÕß®“°‡ÀÁπ«à“‡ªìπ ‘Ëß ”§—≠ ·≈–®”‡ªìπµàÕ°“√¥”‡π‘π∏ÿ√°‘®„À⇮√‘≠‡µ‘∫‚µ Õ¬à“ß¡—Ëπ§ß ‚¥¬‰¥â¡’°“√ª√–°“»·≈–°”À𥉫â‡æ◊ËÕ„ÀâΩÉ“¬∫√‘À“√·≈– æπ—°ß“π√—∫∑√“∫·≈–∂◊Õ‡ªìπ·π«∑“ߪؑ∫—µ‘‰«âÕ¬à“ß™—¥‡®π ‚¥¬§”π÷ß∂÷ß §«“¡‚ª√àß„  ‡æ‘Ë¡¢’¥§«“¡ “¡“√∂„π°“√·¢àߢ—π„À⇰‘¥§«“¡‡™◊ËÕ¡—Ëπ·°à ºŸâ∂◊ÕÀÿâπÀ√◊ÕºŸâ∑’ˇ°’ˬ«¢âÕß∑ÿ°ΩÉ“¬

12.

7.

8.

9.

7.

9.

11.

13.

The company has disclosed the sufficient and reliable companyûs financial and non-financial data and information in a timely manner so the companyûs shareholders and stakeholders equally obtain data and information. The company also has the unit responsible for giving information to investors and people. The companyûs shareholders must be treated with equality and have the right to access the data and information, and proper channels for communicating with the company. The company must also provide the channels for shareholders to propose the name of directors before the annual ordinary meeting and the channels for shareholders to propose the agenda that shall be considered in the shareholdersû meeting. The Board of Directors has clearly identified the period for independent directorsû position. The Board of Directors has identified the limitation of the number of companies that each director is able to hold the directorûs position and identified the clear definition of independent directorsû qualifications. Each director is able to hold the directorûs position in the registered companies for no more than 5 companies. The company has properly identified the procedures for selecting the qualified personnel in order to be in the executive position and has the transparent and fair nominating processes. The company has the policy to develop the companyûs personnel and continuously arrange the training in order to strengthen more efficient personnel. The Board of Directors must provide the annual performance evaluation in order to be the framework for auditing how the Board of Directors perform their duties. The Company has appointed company secretary who will provide legal advice and any relevant regulation that the broad should aware of, as well as coordinating concerned departments to ensure that the boardûs resolutions and compliance to relevant regulations The company has determined safety policy that will ensure employeeûs welfare and benefit which is indicated in resource manual regarding employeeûs welfare and benefit for example medical expense, benefit and pension for retirement and resignation

Corporate Governance Policies The Board of Directors has identified the good corporate governance policies since such policies are significant and necessary for the business operations with stable growth. The Board has announced and identified the policies so the executives and personnel realize and clearly perform according to such policies by paying attention to transparency, improving the competitive advantage, and creating the confidence among shareholders and stakeholders. Annual Report 2009 M.K. Real Estate Development Plc.

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‘∑∏‘¢ÕߺŸâ∂◊ÕÀÿâπ·≈–ºŸâ¡’ à«π‰¥â‡ ’¬·≈–°“√ª√–™ÿ¡ºŸâ∂◊ÕÀÿâπ „πªï 2552 ∫√‘…—∑¡’°“√ª√–™ÿ¡ “¡—≠ºŸâ∂◊ÕÀÿâπª√–®”ªï®”π«π 1 §√—Èß ‚¥¬°“√ª√–™ÿ¡‰¥â®—¥∑’Ë∫√‘…—∑ ´÷Ëß∫√‘…—∑‰¥â®—¥ àßÀπ—ß ◊Õ‡™‘≠ª√–™ÿ¡æ√âÕ¡∑—Èß √“¬ß“πª√–®”ªï·≈–¢âÕ¡Ÿ≈ª√–°Õ∫°“√ª√–™ÿ¡«“√–µà“ßÊ „À⺟â∂◊ÕÀÿâπ∑√“∫ ≈à«ßÀπâ“°àÕπ«—πª√–™ÿ¡ 10 «—π∑”°“√·µà≈–«“√–¡’§«“¡‡ÀÁπ¢Õߧ≥–°√√¡°“√ ª√–°Õ∫·≈–¡’°“√∫—π∑÷°°“√ª√–™ÿ¡∂Ÿ°µâÕߧ√∫∂â«π ‡æ◊ËÕ„À⺟â∂◊ÕÀÿâπ “¡“√∂ µ√«® Õ∫‰¥â ∫√‘…∑— ‰¥â„À⧫“¡ ”§—≠µàÕ ‘∑∏‘¢ÕߺŸ¡â  ’ «à π‰¥â‡ ’¬∑ÿ°°≈ÿ¡à ‰¡à«“à ®–‡ªìπ æπ—°ß“πÀ√◊ÕºŸ∫â √‘À“√¢Õß∫√‘…∑— ≈Ÿ°§â“ §Ÿ§à “â ‡®â“Àπ’È ¿“§√—∞·≈–Àπ૬ߓπµà“ßÊ ∑’ˇ°’ˬ«¢âÕß ‡π◊ËÕß®“°°≈ÿà¡∫ÿ§§≈‡À≈à“π’È ®–‡ªìπ·√ß π—∫ πÿπ„Àâ∫√‘…—∑  “¡“√∂·¢àߢ—π·≈– √â“ß°”‰√®πª√– ∫§«“¡ ”‡√Á®„π√–¬–¬“«‰¥â „π°“√ª√–™ÿ¡ºŸ∂â Õ◊ Àÿπâ „πªï 2552 ¡’°√√¡°“√‡¢â“√à«¡ª√–™ÿ¡∑—ßÈ  ‘πÈ 12 ∑à“π ´÷Ëß√«¡∂÷ߧ≥–°√√¡°“√µ√«® Õ∫ ‚¥¬ª√–∏“π∑’˪√–™ÿ¡‰¥â‡ªî¥‚Õ°“ „Àâ ºŸâ∂◊ÕÀÿâπ¡’ ‘∑∏‘Õ¬à“߇∑à“‡∑’¬¡°—π„π°“√µ√«® Õ∫°“√¥”‡π‘πß“π¢Õß∫√‘…—∑ °“√ Õ∫∂“¡·≈–· ¥ß§«“¡§‘¥‡ÀÁπ·≈–¢âÕ‡ πÕ·π–µà“ßÊ √–∫∫°“√§«∫§ÿ¡¿“¬„π·≈–°“√µ√«® Õ∫¿“¬„π §≥–°√√¡°“√∫√‘…—∑ ‰¥âµ√–Àπ—°∂÷ߧ«“¡ ”§—≠¢Õß√–∫∫°“√§«∫§ÿ¡ ¿“¬„π∑’Ë®–‡ªìπ°≈‰° ”§—≠„π°“√™à«¬≈¥§«“¡‡ ’ˬß∑“ß∏ÿ√°‘® ª°ªÑÕß §ÿ â ¡ §√Õß∑√— æ ¬å   ‘ π ∑”„Àâ √ “¬ß“π∑“ß°“√‡ß‘ π ‡°‘ ¥ §«“¡πà “ ‡™◊ Ë Õ ∂◊ Õ Õ’°∑—È߬—߇ªìπ°“√ª°ªÑÕߧÿ⡧√Õ߇ߑπ≈ß∑ÿπ®“°ºŸâ∂◊ÕÀÿâπ¢Õß∫√‘…—∑ ®÷߉¥â¡Õ∫ À¡“¬„Àâ§≥–°√√¡°“√µ√«® Õ∫√—∫º‘¥™Õ∫„π°“√®—¥„Àâ¡’√–∫∫°“√§«∫§ÿ¡ ¿“¬„π∑’Ë¡’ª√– ‘∑∏‘º≈·≈–∫√‘À“√§«“¡‡ ’ˬ߄ÀâÕ¬Ÿà„π√–¥—∫∑’ˇÀ¡“– ¡ „πªï 2552 §≥–°√√¡°“√∫√‘…—∑·≈–ºŸâ Õ∫∫—≠™’Õ‘ √– ‰¥âæ‘®“√≥“·≈– „À⧫“¡‡ÀÁπ«à“ ∫√‘…—∑‰¥âªØ‘∫—µ‘ß“πÕ¬à“߇ªìπ‰ªµ“¡¢—ÈπµÕπ∑’Ë°”À𥉫â·≈– ‰¡àæ∫ª√–‡¥Á𧫓¡º‘¥æ≈“¥∑’Ë ”§—≠ (√“¬≈–‡Õ’¬¥¿“¬„µâÀ—«¢âÕ °“√§«∫§ÿ¡ ¿“¬„π) §«“¡ —¡æ—π∏å°—∫ºŸâ≈ß∑ÿπ ∫√‘…—∑‰¥â¡’°“√‡ªî¥‡º¬¢âÕ¡Ÿ≈∑“ß°“√‡ß‘π·≈– “√ π‡∑»µà“ßÊ ‡™à𠂧√ß √â“ß°“√∂◊ÕÀÿâπ ªí®®—¬§«“¡‡ ’Ë¬ß √“¬°“√‡°’ˬ«‚¬ßµà“ßÊ µàÕºŸâ∂◊ÕÀÿâπ ·≈–ºŸâ∑’ˇ°’ˬ«¢âÕßÕ¬à“ß∂Ÿ°µâÕߧ√∫∂â«π‚ª√àß„ ‡ªìπ‰ªµ“¡À≈—°‡°≥±å¢Õß µ≈“¥À≈—°∑√—æ¬å ´÷Ëß¡’Àπ૬ߓπ„π à«π¢Õßπ—°≈ß∑ÿπ —¡æ—π∏å¿“¬„π¢Õß Õߧå°√‡ªìπºŸ¥â ”‡π‘π°“√ª√– “πß“π ‡æ◊ÕË „Àâ∫√‘°“√¥â“π¢âÕ¡Ÿ≈·≈–¢à“« “√µà“ßÊ ¢Õß∑“ß∫√‘…—∑œ ∑—Èßπ’È “¡“√∂µ‘¥µàÕ‰¥â∑’Ë ‚∑√»—æ∑å 02 - 2166600 -18 µàÕ 117 ‚∑√ “√ 02 - 6124557 Õ’‡¡≈å : irc@mk.co.th À√◊Õ∑’ˇ«Á∫‰´µå www.mk.co.th ¿“«–ºŸâπ”·≈–«‘ —¬∑—»πå §≥–°√√¡°“√¡’ à«π√à«¡„π°“√°”Àπ¥ «‘ —¬∑—»πå ¿“√°‘® °≈¬ÿ∑∏å ‡ªÑ“À¡“¬ ·≈–ß∫ª√–¡“≥¢Õß∫√‘…∑— µ≈Õ¥®π¥Ÿ·≈„Àâ¡°’ “√¥”‡π‘π°“√„À⇪ì𠉪µ“¡·ºπ∏ÿ√°‘®∑’Ë°”À𥉫âÕ¬à“ß¡’ª√– ‘∑∏‘¿“æ·≈–· ¥ß§«“¡§‘¥‡ÀÁπ Õ¬à“߇ªìπÕ‘ √–„π°“√µ—¥ ‘π„®‡°’ˬ«°—∫‡√◊ËÕßµà“ßÊ µ≈Õ¥®π‰¥â¡’°“√µ‘¥µ“¡ º≈°“√ªØ‘∫—µ‘ß“π¢ÕßΩÉ“¬∫√‘À“√‡ªìπª√–®”∑ÿ°‰µ√¡“  §«“¡¢—¥·¬âß∑“ߺ≈ª√–‚¬™πå §≥–°√√¡°“√‰¥â∑√“∫∂÷ß√“¬°“√∑’‡Ë °’¬Ë «‚¬ß°—π°—∫ºŸ∑â ÕË’ “®¡’§«“¡¢—¥·¬âß ∑“ߺ≈ª√–‚¬¢πå·≈–‰¥âæ‘®“√≥“§«“¡‡À¡“– ¡Õ¬à“ß√Õ∫§Õ∫∑ÿ°§√—Èß √«¡ ∑—Èß¡’°“√ªØ‘∫—µ‘µ“¡À≈—°‡°≥±å∑’˵≈“¥À≈—°∑√—æ¬å °”À𥂥¬√“§“·≈– ‡ß◊ËÕπ‰¢‡ªìπ‰ªµ“¡ª°µ‘¢Õß°“√¥”‡π‘π∏ÿ√°‘®‡ ¡◊ÕπÀπ÷Ëß°“√∑”√“¬°“√°—∫ ∫ÿ§§≈¿“¬πÕ°∑—Ë«‰ª

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√“¬ß“πª√–®”ªï 2552 ∫√‘…—∑ ¡—Ëπ§ß‡§À–°“√ ®”°—¥ (¡À“™π)

Rights of Shareholders and Stakeholders, and Shareholdersû Meeting In 2009, the company arranged one annual ordinary shareholdersû meeting at the company. The company submitted the invitation letter and annual report with the attachment according to the meeting agendas to shareholders 10 working days in advance of the meeting. Each agenda must have the opinions of the Board of Directors and accurate and complete meeting minutes so the shareholders were auditable. The company has paid attention to rights of stakeholders from companyûs employees, executives, customers, counterparties, creditors to government agencies and relevant units since their supports help the company compete and generate profit in order for the success in the long-run. During the shareholdersû meeting in the year 2009, 12 directors attended the meeting, including audit committee. The Chairman of the meeting opened the opportunity for shareholders to equally audit the companyûs business operations, to inquire and express their opinions and recommendations. Internal Control and Internal Audit System The Board of Directors has paid attention to the internal control system as the important mechanism for mitigating the business risk and protecting the properties so the financial reports are reliable and it can protect the investment of companyûs shareholders. Therefore, the Board has assigned the Audit Committee to be responsible for providing the effective internal control system and managing the risk at the proper level. In 2009, the Board of Directors and independent auditors considered and expressed their opinions that the company performed its duties according to the specified procedures and did not find any major mistakes (see details in the topic çinternal controlé). Relationship with Investors The company has disclosed the accurate, complete, and transparent financial information and various information such as shareholding structure, risk factors, related transactions, etc. to shareholders and relevant parties according to the rules of the Stock Exchange. The investorûs relations unit within the company coordinates in order to support the companyûs news and information. Please contact at Tel. 02-216-6600 ext. 117 or Fax 02-6124557, email : irc@mk.co.th or website : www.mk.co.th. Leadership and Vision The Board of Directors has participated in identifying the companyûs vision, mission, strategy, goals, and budget and taking care of ensuring that the actions are efficiently in compliance with the specified action plans and expressing the opinions freely regarding any decisions of various issues. In additions, the Board of Directors has monitored the managementûs performance every quarter. Conflict of Interest The Board of Directors has realized the related transactions with persons who may have the conflict of interest and considered the properness deliberately every time. The Board of Directors has also performed the duties according the Stock Exchangeûs rules by identifying the price and conditions according to the normal business operations like the transactions by outsiders.


®√‘¬∏√√¡∑“ß∏ÿ√°‘® ∫√‘ … — ∑ ‰¥â Õ Õ°¢â Õ æ÷ ß ªØ‘ ∫ — µ ‘ ‡ °’ Ë ¬ «°— ∫ ®√‘ ¬ ∏√√¡¢Õߧ≥–°√√¡°“√ ΩÉ“¬®—¥°“√·≈–æπ—°ß“π‡æ◊ÕË „Àâº∑⟠‡Ë’ °’¬Ë «¢âÕ߬÷¥‡ªìπ·π«∑“ß„π°“√ªØ‘∫µ— ¥‘ «â ¬ §«“¡´◊ËÕ —µ¬å ÿ®√‘µ ∑—Èß°“√ªØ‘∫—µ‘µàÕ∫√‘…—∑ ºŸâ¡’ à«π‰¥â‡ ’¬·≈–ºŸâ∑’ˇ°’ˬ«¢âÕß Õ¬à“߇§√àߧ√—¥ ¥—ßπ’È π‚¬∫“¬®√‘¬∏√√¡∏ÿ√°‘® µàÕ‡®â“¢ÕßÀ√◊ÕºŸâ∂◊ÕÀÿâπ ë ºŸâ∫√‘À“√¢Õß∫√‘…—∑¡’¢âÕºŸ°æ—π‡°’Ë¬«°—∫‡√◊ËÕßπ’È„π∞“π–∑’ˉ¡„™à‡®â“¢Õß°‘®°“√ ë ºŸâ∫√‘À“√®–µâÕß¡’§«“¡´◊ËÕ —µ¬å ÿ®√‘µ µ≈Õ¥®πµ—¥ ‘π„®¥”‡π‘π°“√„¥Ê ¥â«¬§«“¡ ÿ®√‘µ„®·≈–‡ªìπ∏√√¡µàÕºŸâ∂◊ÕÀÿâπ∑—Èß√“¬„À≠à·≈–√“¬¬àÕ¬ ·≈–‡æ◊ËÕº≈ª√–‚¬™πå‚¥¬√«¡ ¥—ßπ‘È - ¥”‡π‘π°“√¿“¬„µâ¢Õ∫‡¢µÕ”π“®·≈–º≈ª√–‚¬™πå¢Õß∫√‘…—∑ - ∑”Àπâ“∑’˥⫬§«“¡ “¡“√∂·≈–√–¡—¥√–«—߇¬’ˬߺŸâ∑’Ë¡’§«“¡√Ÿâ ª√– ∫°“√≥å·≈–§«“¡™”π“≠æ÷ß°√–∑” - ®—¥°“√¥Ÿ·≈‰¡à„Àâ∑√—æ¬å ‘π„¥Ê ¢Õß∫√‘…—∑‡ ’¬À“¬À√◊Õ Ÿ≠‡ ’¬‰ª ‚¥¬‡ª≈à“ª√–‚¬™πå - √“¬ß“πº≈°“√¥”‡π‘πß“πÕ¬à“ß ¡Ë”‡ ¡Õ·≈–§√∫∂â«πµ“¡§«“¡ ‡ªìπ®√‘ß ·≈–√“¬ß“π·π«‚πâ¡∑—Èߥâ“π∫«°·≈–¥â“π≈∫¢Õß∫√‘…—∑ ∫πæ◊ È π ∞“π¢Õߧ«“¡ ¡‡Àµÿ   ¡º≈·≈–§«“¡πà “ ‡™◊ Ë Õ ∂◊ Õ ·≈– ¡’¢âÕ¡Ÿ≈ π—∫ πÿπ‡æ’¬ßæÕ - ‰¡à‡ªî¥‡º¬¢âÕ¡Ÿ≈∑’ˇªì𧫓¡≈—∫¢Õß∫√‘…—∑µàÕºŸâÕ◊Ëπ‚¥¬¡‘™Õ∫ ‚¥¬‡©æ“–µàÕ§Ÿà·¢àߢ—π - ®—¥À“¢âÕ¡Ÿ≈·≈–Õ∏‘∫“¬¢âÕ¡Ÿ≈∑’Ë®”‡ªìπ ”À√—∫°“√ªØ‘∫—µ‘Àπâ“∑’Ë ¢ÕߺŸâ Õ∫∫—≠™’ µàÕ≈Ÿ°§â“ ë ºŸâ∫√‘À“√®–µâÕß - ‡ªî¥‡º¬¢âÕ¡Ÿ≈‡°’ˬ«°—∫ ‘π§â“∑’Ë≈Ÿ°§â“Õ“®‰¡à “¡“√∂√Ÿâ‰¥â¥â«¬µπ‡Õß Õ¬à“ߧ√∫∂â«π ∂Ÿ°µâÕß·≈–‰¡à∫‘¥‡∫◊Õπ¢âÕ‡∑Á®®√‘ß - ¢“¬ ‘π§â“„π√“§“∑’˵°≈ß°—π À√◊Õ„π°√≥’∑’ˉ¡à¡’°“√µ°≈ß°—π„Àâ„™â √“§“¬ÿµ‘∏√√¡ - ‰¡à°àÕ„À⇰‘¥§«“¡§“¥À«—ßÀ√◊Õ§«“¡‡¢â“„®º‘¥„πµ—« ‘π§â“‡°’ˬ«°—∫ §ÿ≥¿“æ √“§“ ª√‘¡“≥ À√◊Õ‡ß◊ËÕπ‰¢„¥Ê ¢Õߺ≈‘µ¿—≥±å ë ºŸ∫â √‘À“√¡’§«“¡√—∫º‘¥™Õ∫‡°’¬Ë «°—∫º≈‘µ¿—≥±å¢Õß∫√‘…∑— µàÕ≈Ÿ°§â“„π°“√ °”Àπ¥¡“µ√∞“π¢Õߧÿ≥¿“æ∑’Ë·πàπÕπ·≈–¥Ÿ·≈√—°…“¡“µ√∞“ππ—Èπ - °”Àπ¥¡“µ√∞“π¢—ÈπµË”¢Õߧÿ≥¿“æº≈‘µ¿—≥±å∑’ˬա√—∫‰¥â ·≈– ∑”„Àâ¡—Ëπ„®‰¥â«à“¡’°“√∑”µ“¡“µ√∞“ππ—Èπ - ∑”„Àâ√«âŸ “à ¡“µ√∞“π¢Õߧÿ≥¿“æ´÷ßË  Ÿß°«à“¡“µ√∞“π∑’‡Ë §¬ªØ‘∫µ— °‘ π— ™à«¬∑”„À⇰‘¥§à“µÕ∫·∑π à«π‡æ‘Ë¡µ“¡¡“µ√∞“π∑’Ë Ÿß¢÷Èπ - ®—¥À“‡§√◊ËÕß¡◊Õ√Õß√—∫°“√√âÕ߇√’¬π¢Õß≈Ÿ°§â“‡°’ˬ«°—∫§ÿ≥¿“æ¢Õß  ‘π§â“¢Õß∫√‘…—∑ ·≈–¥”‡π‘π°“√µÕ∫ πÕߧ«“¡µâÕß°“√¢Õß ≈Ÿ°§â“Õ¬à“ß√«¥‡√Á« - „Àâ°“√√—∫√Õß«à“ ‘π§â“¡’§ÿ≥¿“浓¡¡“µ√∞“π¢Õß∫√‘…—∑ ë ºŸâ∫√‘À“√®–µâÕß„À⧫“¡ ”§—≠„π°“√√—°…“¢âÕ¡Ÿ≈∑’ˇªì𧫓¡≈—∫¢Õß ≈Ÿ°§â“Õ¬à“ß®√‘ß®—ß·≈– ¡Ë”‡ ¡Õ·≈–‰¡àπ”¢âÕ¡Ÿ≈¥—ß°≈à“«¡“„™â‡æ◊ËÕ ª√–‚¬™πå¢Õßµπ‡Õß·≈–ºŸâ∑’ˇ°’ˬ«¢âÕß

Business Ethics The company has issued the business ethics of the Board of Directors, management, and employees so the relevant parties are able to realize the ethics as the strict guideline of performance with honesty and integrity towards the company, stakeholders, and relevant parties as follows. Business Ethics Towards owners or shareholders ë The companyûs executives have the obligations to the ethics as the person who are not the owners. ë The executives must have honesty and must decide to perform any duties with honesty and fairness towards major and minor shareholders and with benefits for the overall company as follows. - Perform the duties under the scope of power and companyûs benefit - Perform the duties with capability and care like the duties performed by persons who are knowledgeable, experienced, and proficient. - Manage the companyûs properties so the companyûs properties are not damaged or lost without any benefits. - Report the performance regularly and completely according to the fact, and report the companyûs positive and negative trends on the basis of reasonableness and reliability with sufficient data support. - Do not disclose the companyûs confidential information to others with dishonesty, especially to competitors. - Provide data and explain the data necessary for the auditorûs duties and responsibilities. Towards customers ë The companyûs executives must - Disclose the data regarding the products that the customers cannot completely and accurately perceive by themselves without any distortion. - Sell the products at the agreeable price or in case of no agreeable price, shall use fair price. - Do not emerge any hope or create any understanding towards the products regarding the quality, price, quantity or any productûs conditions. ë The executives must be responsible for the companyûs products towards customers regarding the identification of standard of quality and how to maintain such standards. - Identify the minimum standard of the acceptable product quality and shall be confident that the company shall follow such standards. - Create understanding that the higher the productûs standard, the higher the compensation and benefits the company obtains. - Provide the tools to support the customerûs complaints regarding the companyûs product quality and shall respond to the customerûs requirement rapidly. - Certify that the product is qualified according to the companyûs standard. ë The executives must strictly and regularly pay attention to the customersû confidential information and shall not apply such information for their own benefits and for the relevant partiesû benefits. Annual Report 2009 M.K. Real Estate Development Plc.

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Towards counterparties and creditors ë ºŸ∫â √‘À“√®–∑”„Àâ¡πË— „®«à“¡’«∏‘ °’ “√ªØ‘∫µ— ∑‘ ¥Ë’ „’ π°“√´◊ÕÈ ‘π§â“®“°§Ÿ§à “â ¢Õß ë The executives must confide that the company has the best practice for purchasing the products from the companyûs counterparties as follows. ∫√‘…—∑ ¥—ßπ’È - Do not ask, receive, or pay the bribe to the counterparty and report - ‰¡à‡√’¬° ‰¡à√—∫ À√◊Õ‰¡à®à“¬ ‘π∫π·°à§Ÿà§â“ ·≈–√“¬ß“π∫√‘…—∑§Ÿà§â“ the counterpartiesû companies regarding the bribe or methods of ∂÷ß°“√„Àâ ‘π∫πÀ√◊Õ«‘∏’°“√µ—Èß„®®–„Àâ ‘π∫π¢Õßæπ—°ß“π∫√‘…—∑ giving the bribe from the counterpartiesû employees to the companyûs §Ÿà§â“·°àæπ—°ß“π¢Õß∫√‘…—∑ employees. - ¬ÿµ‘°“√§â“°—∫∫√‘…—∑§Ÿà§â“∑’Ë¡’°“√µ‘¥ ‘π∫πæπ—°ß“π∫√‘…—∑ - Terminate any trading with the counterpartiesû companies who give - ∑”„Àâ¡—Ëπ„®«à“‰¡à¡’°“√µ‘¥ ‘π∫π°—∫æπ—°ß“π¢Õß∫√‘…—∑§Ÿà§â“¢Õß the bribe to the companyûs employees. ∫√‘…—∑ - Confide that the company does not give the bribe to the counterpartiesû employees. ë ºŸâ∫√‘À“√¢Õß∫√‘…—∑®–°”°—∫¥Ÿ·≈‡æ◊ËÕ„Àâ¡—Ëπ„®‰¥â«à“¿“√–Àπ’È ‘π°—∫§Ÿà§â“ ë The companyûs executives must supervise in order to confide that the ‡ªìπ‰ªµ“¡‡ß◊ËÕπ‰¢∑“ß°“√§â“√«¡∂÷ß°“√„Àâ°Ÿâ¬◊¡‡ß‘π ¥—ßπ’È debts and burdens with the counterparties are in compliance with the - √—°…“·≈–ªØ‘∫µ— µ‘ “¡‡ß◊ÕË π‰¢∑’¡Ë µ’ Õà ‡®â“Àπ’‚È ¥¬‡§√àߧ√—¥ ∑—ßÈ „π·ßà¢Õß trading conditions and borrowing conditions as follows. °“√™”√–§◊π °“√¥Ÿ·≈À≈—°∑√—æ¬å§È”ª√–°—π ·≈–‡ß◊ËÕπ‰¢Õ◊ËπÊ √«¡ - Strictly maintain and perform according to the conditions towards the ∑—È߉¡à„™â‡ß‘π∑ÿπ∑’ˉ¥â®“°°“√°Ÿâ¬◊¡‡ß‘π‰ª„π∑“ß∑’Ë¢—¥°—∫«—µ∂ÿª√– ß§å creditors regarding the repayment, collateral, and other conditions „π¢âÕµ°≈ß∑’Ë∑”°—∫ºŸâ„Àâ¬◊¡‡ß‘π and do not use the capital obtained from the borrowing for the - ∫√‘À“√∫√‘…—∑‰ª„π∑“ß∑’ˉ¡à∑”„À⇰‘¥§«“¡‡ ’ˬ߇æ‘Ë¡¢÷Èπ·°à‡®â“Àπ’È objective that contradicts with the objective on the agreement signed ¢Õß∫√‘…—∑ with lenders. - √“¬ß“π∞“π–°“√‡ß‘π¢Õß∫√‘…—∑·°à‡®â“Àπ’ȥ⫬¢âÕ¡Ÿ≈∑’Ë∂Ÿ°µâÕß - Manage the company on the way that does not increase any risks towards the companyûs creditors. §√∫∂â«πµ“¡§«“¡‡ªìπ®√‘ß - Report the companyûs financial status to the creditors with the - æ‘®“√≥“∂÷ߺ≈ª√–‚¬™πå¢Õ߇®â“Àπ’È°√≥’∑’Ë¡’°“√¢¬“¬√–¬–‡«≈“ accurate and complete information according to the facts. °“√™”√–Àπ’È - Consider the creditorsû benefits in case of extending the repayment - √“¬ß“π‡®â“Àπ’È≈à«ßÀπâ“ À“°‰¡à “¡“√∂ªØ‘∫—µ‘µ“¡¢âÕºŸ°æ—π„π period.  —≠≠“ ·≈–√à«¡°—πÀ“·π«∑“ß·°â‰¢ªí≠À“¥—ß°≈à“« - Report the creditors in advance if not able to perform according to µàÕ —ߧ¡ à«π√«¡ the obligations in the contract and cooperate to find the solutions of the abovementioned problems. ë ºŸâ∫√‘À“√®–¥”‡π‘π∏ÿ√°‘®¢Õß∫√‘…—∑ ‚¥¬ Towards the society - §”π÷ß∂÷ߺ≈°√–∑∫µàÕ∑√—欓°√∏√√¡™“µ‘  ¿“æ ‘Ëß·«¥≈âÕ¡ ·≈– ë The companyûs executives must operate the companyûs businesses by  “∏“√≥ª√–‚¬™πå - Realizing the impact on natural resources, environment, and public - ‰¡àª√–À¬—¥§à“„™â®à“¬‚¥¬ª√“»®“°°“√æ‘®“√≥“∂÷ߧ«“¡‡ªìπÕ¬Ÿà∑’Ë utilities. ¥’¢Õß —ߧ¡‚¥¬√«¡ - Not saving any expenses without considering the well-being of the - ¡’ «à π√à«¡„π‚§√ß°“√´÷ßË ™à«¬¬°√–¥—∫™ÿ¡™π∑’∫Ë √‘…∑— ∑”‡π‘π°‘®°“√Õ¬Ÿà overall society. °“√∂à«ß¥ÿ≈¢Õߧ≥–°√√¡°“√∑’ˉ¡à‡ªìπºŸâ∫√‘À“√ - Participating in the project that helps upgrade the community the company is operating the business. §≥–°√√¡°“√∫√‘…—∑ ¡’®”π«π 12 ∑à“π ª√–°Õ∫¥â«¬ Check and Balance of Non-executive Directors °√√¡°“√∑’ˇªìπºŸâ∫√‘À“√ 7 ∑à“π °√√¡°“√∑’ˉ¡à‡ªìπºŸâ∫√‘À“√ 5 ∑à“π The company has 12 members of Board of Directors consisting of : §‘¥‡ªìπ 5 „π 12 ¢Õߧ≥–°√√¡°“√ - 7 Executive directors °√√¡°“√∑’ˇªìπÕ‘ √– 5 ∑à“π - 5 Non-executive directors (or 5 in 12 of the Board of Directors.) - 5 Independent Directors (or 5 in 12 of the Board of Directors) §‘¥‡ªìπ 5 „π 12 ¢Õߧ≥–°√√¡°“√ Audit Committee (refer to the sub-topic of management structure) §≥–°√√¡°“√µ√«® Õ∫ (Õâ“ßÕ‘ß„πÀ—«¢âÕ¬àÕ¬‚§√ß √â“ß°“√®—¥°“√) µàÕ§Ÿà§â“·≈–‡®â“Àπ’È

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§ÿ≥ ¡∫—µ‘¢Õߧ≥–°√√¡°“√Õ‘ √– °√√¡°“√Õ‘ √–µâÕß¡’§ÿ≥ ¡∫—µ‘§√∫µ“¡‡°≥±åµàÕ‰ªπ’È 1. ∂◊ÕÀÿâπ‰¡à‡°‘π√âÕ¬≈– 0.5 ¢Õß∑ÿπ™”√–·≈â«¢Õß∫√‘…—∑ ∫√‘…—∑„π‡§√◊Õ ∫√‘…—∑√à«¡ À√◊Õ∫√‘…—∑∑’ˇ°’ˬ«¢âÕß ∑—Èßπ’È„Àâπ—∫√«¡Àÿâπ∑’Ë∂◊Õ‚¥¬ºŸâ∑’Ë ‡°’ˬ«¢âÕߥ⫬ 2. - ‡ªìπ°√√¡°“√∑’ˉ¡à¡’ à«π√à«¡„π°“√∫√‘À“√ß“π„π∫√‘…—∑ ∫√‘…—∑ „π‡§√◊Õ ∫√‘…∑— √à«¡ ∫√‘…∑— ∑’‡Ë °’¬Ë «¢âÕß À√◊ÕºŸ∂â Õ◊ Àÿπâ √“¬„À≠à¢Õß∫√‘…∑— - ‡ªìπ°√√¡°“√∑’ˉ¡à‡ªìπ≈Ÿ°®â“ß æπ—°ß“π À√◊Õ∑’˪√÷°…“∑’ˉ¥â√—∫ ‡ß‘π‡¥◊Õπª√–®”®“°∫√‘…—∑ ∫√‘…—∑„π‡§√◊Õ ∫√‘…—∑√à«¡ ∫√‘…—∑ ∑’ˇ°’ˬ«¢âÕß À√◊ÕºŸâ∂◊ÕÀÿâπ√“¬„À≠à¢Õß∫√‘…—∑ 3. ‡ªìπ°√√¡°“√∑’ˉ¡à¡’º≈ª√–‚¬™πå À√◊Õ à«π‰¥â‡ ’¬‰¡à«à“∑“ßµ√ß À√◊Õ ∑“ßÕâÕ¡∑—ßÈ „π¥â“π°“√‡ß‘π·≈–°“√∫√‘À“√ß“π¢Õß∫√‘…∑— ∫√‘…∑— „π‡§√◊Õ ∫√‘…—∑√à«¡ À√◊ÕºŸâ∂◊ÕÀÿâπ√“¬„À≠à¢Õß∫√‘…—∑ 4. ‡ªìπ°√√¡°“√∑’ˉ¡à¡’º≈ª√–‚¬™πåÀ√◊Õ à«π‰¥â‡ ’¬„π≈—°…≥–¢â“ßµâπ ¡“°àÕπ„π√–¬–‡«≈“ 1 ªï °àÕπ‰¥â√—∫°“√·µàßµ—È߇ªìπ°√√¡°“√Õ‘ √– 5. ‡ªìπ°√√¡°“√∑’ˉ¡à„™à‡ªìπºŸâ∑’ˇ°’ˬ«¢âÕßÀ√◊Õ≠“µ‘ π‘∑¢ÕߺŸâ∫√‘À“√ À√◊Õ ºŸâ∂◊ÕÀÿâπ√“¬„À≠à¢Õß∫√‘…—∑ 6. ‡ªì π °√√¡°“√∑’ Ë ‰ ¡à ‰ ¥â √ — ∫ °“√·µà ß µ— È ß ¢÷ È π ‡ªì π µ— « ·∑π‡æ◊ Ë Õ √— ° …“º≈ ª√–‚¬™πå¢Õß°√√¡°“√∫√‘…—∑ ºŸâ∂◊ÕÀÿâπ√“¬„À≠à À√◊ÕºŸâ∂◊ÕÀÿâπ´÷Ë߇ªìπºŸâ ∑’ˇ°’ˬ«¢âÕß°—∫ºŸâ∂◊ÕÀÿâπ√“¬„À≠à¢Õß∫√‘…—∑ 7.  “¡“√∂ªØ‘∫—µ‘Àπâ“∑’Ë · ¥ß§«“¡‡ÀÁπÀ√◊Õ√“¬ß“πº≈°“√ªØ‘∫—µ‘ß“π µ“¡Àπâ“∑’∑Ë ‰Ë’ ¥â√∫— ¡Õ∫À¡“¬®“°§≥–°√√¡°“√∫√‘…∑— ‚¥¬‰¡àÕ¬Ÿ¿à “¬„µâ °“√§«∫§ÿ¡¢ÕߺŸâ∫√‘À“√ À√◊ÕºŸâ∂◊ÕÀÿâπ√“¬„À≠à¢Õß∫√‘…—∑ √«¡∑—ÈߺŸâ∑’Ë ‡°’ˬ«¢âÕß À√◊Õ≠“µ‘ π‘∑¢Õß∫ÿ§§≈¥—ß°≈à“« ºŸâ∑’ˇ°’ˬ«¢âÕß À¡“¬√«¡∂÷ß ºŸâ∑’Ë¡’§«“¡ —¡æ—π∏åÀ√◊Õ‡°’ˬ«¢âÕß°—∫∫√‘…—∑ ®π ∑”„À≡ࠓ¡“√∂∑”Àπâ“∑’ˉ¥âÕ¬à“ßÕ‘ √–À√◊Õ§≈àÕßµ—« ‡™àπ ´—ææ≈“¬‡ÕÕ√å ≈Ÿ°§â“ ‡®â“Àπ’È ≈Ÿ°Àπ’È À√◊ÕºŸâ∑’Ë¡’§«“¡‡°’ˬ«¢âÕß ∑“ß∏ÿ√°‘® Õ¬à“ß¡’π—¬ ”§—≠ ‡ªìπµâπ °“√√«¡À√◊Õ·¬°µ”·Àπàß ª√–∏“π°√√¡°“√‡ªìπµ—«·∑π¢ÕߺŸâ∂◊ÕÀÿâπ√“¬„À≠à´÷Ëß∂◊ÕÀÿâπ√âÕ¬≈– 26.13 ¢ÕߺŸâ∂◊ÕÀÿâπ∑—ÈßÀ¡¥ ·¡â«à“ª√–∏“π°√√¡°“√·≈–ª√–∏“π°√√¡°“√∫√‘À“√®–‡ªìπ∫ÿ§§≈§π ‡¥’¬«°—π ·µàÕ¬à“߉√°Áµ“¡ ‚§√ß √â“ߢÕߧ≥–°√√¡°“√∑—Èߧ≥–ª√–°Õ∫ ¥â«¬°√√¡°“√Õ‘ √–¡“°°«à“ 1 „π 3 ¢Õߧ≥–°√√¡°“√∑—Èߧ≥– ®÷ß∑”„À⇰‘¥ °“√∂à«ß¥ÿ≈¬å·≈–°“√ Õ∫∑“π°“√∫√‘À“√ß“π ·≈–¡’°“√®—¥·∫àß·¬°∫∑∫“∑ Àπâ“∑’Ë §«“¡√—∫º‘¥™Õ∫ ∑’Ë™—¥‡®π√–À«à“ß ª√–∏“π°√√¡°“√°—∫ª√–∏“π °√√¡°“√∫√‘À“√ À√◊Õ °√√¡°“√ºŸâ®—¥°“√ ÕÕ°®“°°—πÕ¬à“ß™—¥‡®π ´÷ËߺŸâ∑’Ë®– ¥”√ßµ”·Àπàß ª√–∏“π°√√¡°“√ ¡’π‚¬∫“¬∑’Ë®–æ‘®“√≥“®“°°√√¡°“√Õ‘ √– ‡ªì𠔧—≠ √“¬ß“π¢Õߧ≥–°√√¡°“√ §≥–°√√¡°“√∫√‘…—∑ ‡ªìπºŸâ√—∫º‘¥™Õ∫µàÕß∫°“√‡ß‘π√«¡¢Õß∫√‘…—∑·≈– ∫√‘…—∑¬àÕ¬√«¡∑—Èß “√ π‡∑»∑“ß°“√‡ß‘π ∑’˪√“°Æ„π√“¬ß“πª√–®”ªï ´÷Ëß®—¥ ∑”¢÷Èπµ“¡¡“µ√∞“π°“√∫—≠™’∑’Ë√—∫√Õß∑—Ë«‰ª√«¡∑—Èß¡’°“√‡ªî¥‡º¬¢âÕ¡Ÿ≈„π À¡“¬‡Àµÿª√–°Õ∫ß∫°“√‡ß‘πÕ¬à“߇撬ßæÕ ‚¥¬¡’°√√¡°“√ºŸâ√—∫¡Õ∫Õ”π“® µ“¡°ÆÀ¡“¬≈ß≈“¬¡◊Õ™◊ËÕæ√âÕ¡ª√–∑—∫µ√“¢Õß∫√‘…—∑‡æ◊ËÕ√—∫√Õߧ«“¡∂Ÿ° µâÕߢÕߢâÕ¡Ÿ≈¥—ß°≈à“«

Qualifications of Independent Directors The independent directors must have the complete qualifications as follows. 1. Hold the shares of no more than 0.5 % of the paid-up capital of the company, subsidiaries, or related companies and shall count the shares held by the related persons. 2. - Be the directors who do not participate in the management of the company, subsidiaries, related companies or the companyûs major shareholders. - Be the directors who are not the employees, officers, or advisors who obtain the permanent salaries from the company, subsidiaries, related companies or the companyûs major shareholders. 3. Be the directors who do not have any benefits, or direct or indirect conflict of interest regarding the financial condition or management of the company, subsidiaries, related companies or the companyûs major shareholders. 4. Be the directors who do not have any benefits, or direct or indirect conflict of interest abovementioned for the past 1 year before being appointed to be the independent director. 5. Be the directors who are not the related persons or close relatives of the companyûs executives or major shareholders. 6. Be the directors who are not appointed to be the agent who maintains the benefits of the companyûs directors, major shareholders, or shareholders who are the persons related to the companyûs major shareholders. 7. Able to perform the duties, express the opinions or report the performance according to the duties assigned by the companyûs Board of Directors without being controlled by the executives or companyûs major shareholders, and related persons or close relatives of such persons. Related persons means persons who have the relationship or are related to company until they are not able to perform the duties with freedom or flexibility such as suppliers, customers, creditors, debtors or persons who have significant business relationship, etc. Position Classification The Chairman of the Board of Directors must be the representative of the major shareholders who hold the shares of 26.13% of total shareholders. Although the Chairman of the Board of Directors and Chairman of the Executive Board is the same person, the structure of the Board consists of the independent directors for one-third of the Board of Directors so the check and balance and auditing occurs. In additions, the role, duties, and responsibilities are clearly separated between the Chairman of the Board of Directors and Chairman of the Executive Board or managing director and person who are the Chairman of the Board of Directors must be mainly considered from the independent directors. Report of the Board of Directors The Board of Directors must be responsible for the company and its subsidiariesû consolidated financial statements, and financial information appeared on the annual report prepared according to the generally accepted accounting standards and must disclose the sufficient information in the notes to financial statements and the authorized directors must sign and affix the companyûs seal in order to certify the accuracy of such information. Annual Report 2009 M.K. Real Estate Development Plc.

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§≥–Õπÿ°√√¡°“√ §≥–°√√¡°“√∫√‘…—∑ ‰¥â¡’°“√·µàßµ—Èߧ≥–°√√¡°“√ ‡æ◊Ëՙ૬°”°—∫ ¥Ÿ·≈°‘®°“√∫√‘…∑— œ ´÷ßË ‡ªìπ°√√¡°“√∑’‡Ë ªìπÕ‘ √–®“°°“√∫√‘À“√ß“π¢Õß∫√‘…∑— œ ‚¥¬¡’Õ”π“®Àπâ“∑’ˇªìπ‰ªµ“¡√“¬≈–‡Õ’¬¥À—«¢âÕ‚§√ß √â“ß°“√®—¥°“√‚¥¬¡’ °“√√“¬ß“π°“√ªØ‘∫—µ‘Àπâ“∑’Ë ·≈–°“√µ‘¥µ“¡º≈µàÕ§≥–°√√¡°“√∫√‘…—∑œ 1. §≥–°√√¡°“√µ√«® Õ∫ ¥â«¬∑’˪√–™ÿ¡ºŸâ∂◊ÕÀÿâπ‰¥â¡’¡µ‘·µàßµ—Èß §≥–°√√¡°“√µ√«® Õ∫‡¡◊ËÕ«—π∑’Ë 29 ‡¡…“¬π 2552 ª√–°Õ∫¥â«¬°√√¡°“√ 3 ∑à“π ¥—ß√“¬™◊ËÕµàÕ‰ªπ’È ™◊ËÕ - π“¡ °ÿ≈ µ”·Àπàß 1. 𓬇°…¡ ±Ÿ√°ƒ…≥“ ª√–∏“π°√√¡°“√ ‡ªìπ°√√¡°“√∑’ˇªìπÕ‘ √– ¡’§«“¡√Ÿâ¥â“π∫—≠™’ 2. π“¬Õπ—πµå ÕÀ—π∑√‘° °√√¡°“√ ‡ªìπ°√√¡°“√∑’ˇªìπÕ‘ √– 3. ¥√.ªîß §ÿ≥–«—≤πå ∂‘µ¬å °√√¡°“√ ‡ªìπ°√√¡°“√∑’ˇªìπÕ‘ √– ¢Õ∫‡¢µÀπâ“∑’˧«“¡√—∫º‘¥™Õ∫¢Õߧ≥–°√√¡°“√µ√«® Õ∫ 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‘ √–¢ÕßÀπ૬ߓπµ√«® Õ∫¿“¬„π µ≈Õ¥ ®π„À⧫“¡‡ÀÁπ™Õ∫„π°“√æ‘®“√≥“·µàßµ—Èß ‚¬°¬â“¬ ‡≈‘°®â“ßÀ—«Àπâ“ Àπ૬ߓπµ√«® Õ∫¿“¬„π À√◊ÕÀπ૬ߓπÕ◊Ëπ„¥∑’Ë√—∫º‘¥™Õ∫‡°’ˬ«°—∫ °“√µ√«® Õ∫¿“¬„π 3.  Õ∫∑“π„Àâ ∫ √‘ … — ∑ ªØ‘ ∫ — µ ‘ µ “¡°ÆÀ¡“¬«à “ ¥â « ¬À≈— ° ∑√— æ ¬å · ≈– µ≈“¥À≈—°∑√—æ¬å ¢âÕ°”Àπ¥¢Õßµ≈“¥À≈—°∑√—æ¬å ·≈–°ÆÀ¡“¬∑’Ë ‡°’ˬ«¢âÕß°—∫∏ÿ√°‘®¢Õß∫√‘…—∑ 4. æ‘®“√≥“ §—¥‡≈◊Õ° ‡ πÕ·µàßµ—Èß∫ÿ§§≈´÷Ëß¡’§«“¡‡ªìπÕ‘ √–‡æ◊ËÕ∑” Àπâ“∑’ˇªìπºŸâ Õ∫∫—≠™’¢Õß∫√‘…—∑ ·≈–‡ πÕ§à“µÕ∫·∑π¢Õß∫ÿ§§≈ ¥—ß°≈à“« √«¡∑—È߇¢â“√à«¡ª√–™ÿ¡°—∫ºŸâ Õ∫∫—≠™’ ‚¥¬‰¡à¡’ΩÉ“¬®—¥°“√ ‡¢â“√à«¡ª√–™ÿ¡¥â«¬Õ¬à“ßπâÕ¬ªï≈– 1 §√—Èß 5. æ‘®“√≥“√“¬°“√∑’ˇ°’ˬ«‚¬ß°—πÀ√◊Õ√“¬°“√∑’ËÕ“®¡’§«“¡¢—¥·¬âß∑“ß º≈ª√–‚¬™πå „Àâ ‡ ªì 𠉪µ“¡°ÆÀ¡“¬·≈–¢â Õ °”Àπ¥¢Õß µ≈“¥À≈—°∑√—æ¬å ∑—Èßπ’È ‡æ◊ËÕ„Àâ¡—Ëπ„®«à“√“¬°“√¥—ß°≈à“« ¡‡Àµÿ ¡º≈ ·≈–‡ªìπª√–‚¬™πå Ÿß ÿ¥µàÕ∫√‘…—∑ 6. ®—¥∑”√“¬ß“π¢Õߧ≥–°√√¡°“√µ√«® Õ∫‚¥¬‡ªî¥‡º¬‰«â„π√“¬ß“π ª√–®”ªï¢Õß∫√‘…—∑ ´÷Ëß√“¬ß“π¥—ß°≈à“«µâÕß≈ßπ“¡‚¥¬ª√–∏“π§≥– °√√¡°“√µ√«® Õ∫·≈–µâÕߪ√–°Õ∫¥â«¬¢âÕ¡Ÿ≈Õ¬à“ßπâÕ¬ ¥—ßµàÕ‰ªπ’È (°) §«“¡‡ÀÁπ‡°’Ë¬«°—∫§«“¡∂Ÿ°µâÕß §√∫∂â«π ‡ªìπ∑’ˇ™◊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 À√◊Õ °ÆÀ¡“¬∑’ˇ°’ˬ«¢âÕß°—∫∏ÿ√°‘®¢Õß∫√‘…—∑ (ß) §«“¡‡ÀÁπ‡°’Ë¬«°—∫§«“¡‡À¡“– ¡¢ÕߺŸâ Õ∫∫—≠™’ (®) §«“¡‡ÀÁπ‡°’Ë¬«°—∫√“¬°“√∑’ËÕ“®¡’§«“¡¢—¥·¬âß∑“ߺ≈ª√–‚¬™πå

28

√“¬ß“πª√–®”ªï 2552 ∫√‘…—∑ ¡—Ëπ§ß‡§À–°“√ ®”°—¥ (¡À“™π)

Sub-committee The Companyûs Board of Directors appoints the committee to help supervise the companyûs business operations and such committees are from the independent directors with the duties and authorities according to the details on the topic of the management structure. The committees shall report the performance and monitoring to the companyûs Board of Directors. 1. Audit Committee The shareholdersû meeting had the resolution to appoint the Audit Committee on 29 April 2009. Name - Surname Position 1. Mr. Kasem Thurakrisana Chairman as independent director who is the accounting expert. 2. Mr. Anan Ahandrik Director as independent director 3. Dr. Ping Kunawatsatit Director as independent director

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Scope of Duties and Responsibilities of the Audit Committee To review the Companyûs financial reporting process to ensure that it is accurate and adequate. To review the Companyûs internal control system and internal audit system to ensure that they are suitable and efficient, to determine an internal audit unitûs independence, as well as to approve the appointment, transfer and dismissal of the chief of an internal audit unit or any other unit in charge of an internal audit. To review the Companyûs compliance with the law on securities and exchange, the Exchangeûs regulations, and the laws relating to the Companyûs business. To consider, select and nominate an independent person to be the Companyûs auditor, and to propose such personûs remuneration, as well as to attend a non-management meeting with an auditor at least once a year. To review the Connected Transactions, or the transactions that may lead to conflicts of interests, to ensure that they are in compliance with the laws and the Exchangeûs regulations, and are reasonable and for the highest benefit of the company. To prepare, and to disclose in the Companyûs annual report, an audit committeeûs report which must be signed by the audit committeeûs chairman and consist of at least the following information: a) an opinion on the accuracy, completeness and creditability of the Companyûs financial report, b) an opinion on the adequacy of the Companyûs internal control system, c) an opinion on the compliance with the law on securities and exchange, the Exchangeûs regulations, or the laws relating to the Companyûs business, d) an opinion on the suitability of an auditor, e) an opinion on the transactions that may lead to conflicts of interests,


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§≥–°√√¡°“√æ‘®“√≥“§à“µÕ∫·∑π 1. π“¬Õπ—πµå ÕÀ—π∑√‘° ª√–∏“π°√√¡°“√ ‡ªìπ°√√¡°“√∑’ˇªìπÕ‘ √– 2. 𓬇°…¡ ±Ÿ√°ƒ…≥“ °√√¡°“√ ‡ªìπ°√√¡°“√∑’ˇªìπÕ‘ √– 3. π“ß “«™ÿµ‘¡“ µ—Èß¡µ‘∏√√¡ °√√¡°“√ ¢Õ∫‡¢µÀπâ“∑’Ë ·≈–§«“¡√—∫º‘¥™Õ∫¢Õߧ≥–°√√¡°“√æ‘®“√≥“ §à“µÕ∫·∑π ë æ‘®“√≥“·π«∑“ß °“√°”Àπ¥§à“µÕ∫·∑π„Àâ·°à °√√¡°“√ œ≈œ ë °”À𥫑 ∏ ’ ° “√ ·≈–À≈— ° ‡°≥±å °“√°”Àπ¥§à “ µÕ∫·∑π„Àâ · °à °√√¡°“√ œ≈œ ∑’ˇªìπ∏√√¡ ·≈– ¡‡Àµÿ ¡º≈ ‡æ◊ËÕ𔇠πÕ∑’˪√–™ÿ¡ ºŸâ∂◊ÕÀÿâπ‡æ◊ËÕæ‘®“√≥“Õπÿ¡—µ‘ 3. §≥–°√√¡°“√ √√À“ 1. 𓬠π—Ëπ »√’√ÿàß‚√®πå ª√–∏“π°√√¡°“√ ‡ªìπ°√√¡°“√∑’ˇªìπÕ‘ √– 2. ¥√. ªîß §ÿ≥–«—≤πå ∂‘µ¬å °√√¡°“√ ‡ªìπ°√√¡°“√∑’ˇªìπÕ‘ √– 3. π“ß “«π¿“æ√ °¡≈»—°¥“«‘°ÿ≈ °√√¡°“√ ¢Õ∫‡¢µÀπâ“∑’Ë ·≈–§«“¡√—∫º‘¥™Õ∫¢Õߧ≥–°√√¡°“√ √√À“ ‰¥â·°à ë ∑”Àπâ “ ∑’ Ë § — ¥ ‡≈◊ Õ °∫ÿ § §≈ ∑’ Ë   ¡§«√‰¥â √ — ∫ °“√‡ πÕ√“¬™◊ Ë Õ ‡ªì π °√√¡°“√„À¡à À√◊Õ √√À“ºŸâ∫√‘À“√√–¥—∫ Ÿß ë °”À𥫑∏°’ “√ ·≈–À≈—°‡°≥±å°“√ √√À“ °√√¡°“√∫√‘…∑— ·≈–ºŸ∫â √‘À“√ √–¥—∫ Ÿß π‚¬∫“¬„π°“√∫√‘À“√§«“¡‡ ’ˬß∑—ÈßÕߧå°√ 1. °”Àπ¥„Àâº∫⟠√‘À“√·≈–æπ—°ß“π„πΩÉ“¬ ·≈–Àπ૬ߓπµà“ß Ê ‡ªìπºŸ¥â ·Ÿ ≈ §«“¡‡ ’ Ë ¬ ß ‚¥¬®–µâ Õ ß¡’ ∫ ∑∫“∑ ·≈– à « π√à « ¡„π°“√æ— ≤ π“ °“√∫√‘À“√§«“¡‡ ’ˬߢÕßÕߧå°√ ·≈– à߇ √‘¡§«“¡√Ÿâ§«“¡‡¢â“„®„π Àπâ“∑’˧«“¡√—∫º‘¥™Õ∫∑’ˇ°’ˬ«¢âÕß°—∫°“√∫√‘À“√§«“¡‡ ’Ë¬ß 2. ®—¥„Àâ¡°’ √–∫«π°“√∫√‘À“√§«“¡‡ ’¬Ë ß∑’¡Ë ª’ √– ‘∑∏‘¿“æ„π∑ÿ°¢—πÈ µÕπ¢Õß °“√¥”‡π‘πß“π µ“¡À≈—°°“√°”°—∫¥Ÿ·≈°‘®°“√∑’Ë¥’ ‡æ◊ËÕ≈¥§«“¡‰¡à ·πàπÕπ ·≈–‡æ‘Ë¡§«“¡ ”‡√Á®„πº≈°“√¥”‡π‘πß“π¢Õß∫√‘…—∑œ 3. ¥”‡π‘π°“√·≈– π—∫ πÿπ°“√∫√‘À“√§«“¡‡ ’ˬ߄Àâª√– ∫§«“¡ ”‡√Á® ∑—Ë«∑—ÈßÕߧå°√‚¥¬°“√„™â∑√—欓°√∑’Ë¡’Õ¬ŸàÕ¬à“ß¡’ª√– ‘∑∏‘¿“æ„π°“√ ª√–‡¡‘π ·≈–°”Àπ¥¡“µ√°“√∫√‘À“√§«“¡‡ ’ˬßÕ¬à“߇À¡“– ¡ 4.  à߇ √‘¡·≈–°√–µÿâπ„Àâ°“√∫√‘À“√§«“¡‡ ’ˬ߇ªìπ«—≤π∏√√¡Õߧå°√ ‚¥¬„Àâ∑ÿ°§πµ√–Àπ—°∂÷ߧ«“¡ ”§—≠¢Õß°“√∫√‘À“√§«“¡‡ ’ˬß

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f) the number of the audit committee meetings, and the attendance of such meetings by each committee member, g) an opinion or overview comment received by the audit committee from its performance of duties in accordance with the charter, and h) other transactions which, according to the audit committeeûs opinion, should be known to the shareholders and general investors, subject to the scope of duties and responsibilities assigned by the Companyûs board of directors; and To perform any other act as assigned by the Companyûs board of directors, with the approval of the audit committee. Remuneration Committee 1. Mr. Anan Ahandrik Chairman as independent director 2. Mr. Kasem Thurakrisana Committee Member as independent director 3. Ms. Chutima Thangmatitham Committee Member Scope of Duties and Responsibilities of the Remuneration Committee Consider the guideline for specifying the directorsû remuneration, etc. Identify the procedures and criteria for identifying the fair and reasonable directorsû remuneration and propose to the shareholdersû meeting for approval. Nominating Committee 1. Mr. Sanan Srirungrojana Chairman as independent director 2. Dr. Ping Kunawatsatit Committee Member as independent director 3. Ms. Napaporn Kamonsakdavikul Committee Member Scope of Duties and Responsibilities of the Nominating Committee Select persons who shall be deserved to be proposed to be the new directors or high-ranking executives. Identify the procedures and criteria for recruiting and selecting the companyûs directors and high-ranking executives. Organization-wide Risk Management Policy Identify the executives and employees within the department and units to take care of the risk. They should play the role and participate in developing the risk management within the organization, and promote knowledge and understanding regarding the risk management responsibilities. Provide the efficient risk management processes in every procedure according to the good corporate governance principle in order to reduce uncertainty and increase the success in the companyûs performance. Manage and support the risk management so it is successful throughout the organization by using the existing resources efficiently for the evaluation and identification of proper risk management measures. Promote and reinforce the risk management as the organizational culture and everyone must realize the importance of risk management. Annual Report 2009 M.K. Real Estate Development Plc.

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°“√ª√–™ÿ¡§≥–°√√¡°“√ „πªï 2552 ‰¥â®—¥„Àâ¡’°“√ª√–™ÿ¡§≥–°√√¡°“√®”π«π 4 §√—Èß ‚¥¬„π °“√ª√–™ÿ¡¡’ª√–∏“π°√√¡°“√‡ªìπª√–∏“π∑’˪√–™ÿ¡ ´÷Ëß∑”Àπâ“∑’Ë·¬° µà“ßÀ“°®“°ª√–∏“π°√√¡°“√∫√‘À“√À√◊Õ°√√¡°“√ºŸâ®—¥°“√¢Õß∫√‘…—∑ ·≈– §≥–°√√¡°“√µ√«® Õ∫¡’°“√ª√–™ÿ¡ 6 §√—Èß §≥–°√√¡°“√¡’°”Àπ¥ª√–™ÿ¡‚¥¬ª°µ‘‡ªìπª√–®”·≈–¡’°“√ª√–™ÿ¡ 摇»…‡æ‘Ë¡µ“¡§«“¡®”‡ªìπ ‚¥¬¡’°“√°”À𥫓√–™—¥‡®π ≈à«ßÀπâ“ ·≈– ¡’«“√–æ‘®“√≥“µ‘¥µ“¡º≈°“√¥”‡π‘πß“π‡ªìπª√–®” ¡’°“√ àßÀπ—ß ◊Õ‡™‘≠ ª√–™ÿ¡ «“√–°“√ª√–™ÿ¡ √“¬ß“π°“√ª√–™ÿ¡§√—Èß°àÕπ æ√âÕ¡∑—È߇հ “√ ∑’ˇ°’ˬ«¢âÕß„Àâ°—∫§≥–°√√¡°“√ ≈à«ßÀπⓉ¡àπâÕ¬°«à“ 7 «—π ‡æ◊ËÕ„Àâ°√√¡°“√ ¡’‡«≈“‰¥â»÷°…“¢âÕ¡Ÿ≈°àÕπ°“√ª√–™ÿ¡ „π°“√ª√–™ÿ¡·µà≈–§√—Èߪ√–∏“π °√√¡°“√‰¥â®—¥ √√‡«≈“Õ¬à“߇撬ßæÕ ”À√—∫Õ¿‘ª√“¬·µà≈–«“√– ·≈–¡’ ºŸâ∫√‘À“√∑’ˇ°’ˬ«¢âÕ߇¢â“√à«¡ª√–™ÿ¡ ‡æ◊ËÕ™’È·®ß¢âÕ¡Ÿ≈µàÕ§≥–°√√¡°“√∫√‘…—∑ „π°√≥’∑’˧≥–°√√¡°“√µâÕß°“√∑√“∫√“¬≈–‡Õ’¬¥‡æ‘Ë¡‡µ‘¡ ∑—Èßπ’ȉ¥â¡’°“√ ®¥∫—π∑÷°√“¬ß“π°“√ª√–™ÿ¡‡ªìπ≈“¬≈—°…≥åÕ—°…√·≈–®—¥‡°Á∫√“¬ß“π °“√ª√–™ÿ¡∑’˺à“π°“√√—∫√Õß®“°§≥–°√√¡°“√æ√âÕ¡„Àâ§≥–°√√¡°“√·≈– ºŸâ∑’ˇ°’ˬ«¢âÕßµ√«® Õ∫‰¥â °“√ª√–‡¡‘πµπ‡ÕߢÕߧ≥–°√√¡°“√ ‚¥¬„™â·∫∫ª√–‡¡‘πº≈°“√ªØ‘∫—µ‘ß“πµπ‡ÕߢÕߧ≥–°√√¡°“√∫√‘…—∑ ´÷Ëß·∫∫ª√–‡¡‘π¥—ß°≈à“«‡ªìπ·∫∫ª√–‡¡‘π∑’Ë®—¥∑”‚¥¬ ¡“§¡ à߇ √‘¡ ∂“∫—π °√√¡°“√∫√‘…—∑‰∑¬ ‚¥¬∫√‘…—∑‰¥â¡’°“√ª√—∫ª√ÿß„Àâ Õ¥§≈âÕß°—∫ ∂“π°“√≥å ¢Õß∫√‘ … — ∑ ‚¥¬‡©æ“–Õ¬à “ ߬‘ Ë ß „π à « π∑’ Ë ‡ °’ Ë ¬ «°— ∫ ∫∑∫“∑Àπâ “ ∑’ Ë ¢ Õß §≥–°√√¡°“√∑’˧«√‡ªìπ‰ªµ“¡∑’Ë°”À𥉫â„ππ‚¬∫“¬°“√°”°—∫¥Ÿ·≈°‘®°“√ ¢Õß∫√‘…—∑ °“√ª√–‡¡‘πº≈¥—ß°≈à“«‡ªìπ°“√™à«¬„Àâ°√√¡°“√·µà≈–∑à“π·≈– §≥–°√√¡°“√‰¥âæ‘®“√≥“∑∫∑«πªí≠À“·≈–Õÿª √√§µà“ßÊ „π√–À«à“ߪï ∑’˺à“π¡“ ·≈–¬—߇ªìπ‡§√◊ËÕß¡◊Õ„π°“√™à«¬µ√«® Õ∫·≈–«‘‡§√“–Àå„Àâ‡ÀÁπ«à“ °“√∑”ß“π¢Õߧ≥–°√√¡°“√¡’ª√– ‘∑∏‘¿“æ ·≈–ªØ‘∫—µ‘§√∫∂â«πµ“¡Àπâ“∑’Ë ¢Õß°√√¡°“√¥â«¬À√◊Õ‰¡à §à“µÕ∫·∑π°√√¡°“√·≈–ºŸâ∫√‘À“√ §≥–°√√¡°“√∫√‘…—∑ ‰¥â·µàßµ—Èߧ≥–°√√¡°“√ √√À“·≈–°”Àπ¥ §à“µÕ∫·∑π ‡æ◊ÕË ∑”Àπâ“∑’æË ®‘ “√≥“§à“µÕ∫·∑π¢Õß°√√¡°“√·≈–ºŸ∫â √‘À“√¢Õß ∫√‘…—∑°àÕπ®–𔇠πÕµàÕ§≥–°√√¡°“√∫√‘…—∑µ—¥ ‘π„® ‚¥¬§≥–°√√¡°“√  √√À“·≈–°”Àπ¥§à“µÕ∫·∑π ®–‡ª√’¬∫‡∑’¬∫§à“µÕ∫·∑π¢Õß°√√¡°“√ ¢Õß∫√‘…—∑°—∫¡“µ√∞“π°“√®à“¬§à“µÕ∫·∑π¢Õß∫√‘…—∑Õ◊ËπÊ „π∏ÿ√°‘®‡¥’¬«°—π  à«π§à“µÕ∫·∑π¢ÕߺŸâ∫√‘À“√¢Õß∫√‘…—∑Õ¬Ÿà„π√Ÿª¢Õ߇ߑπ‡¥◊Õπ·≈–‚∫π—  ¢÷ÈπÕ¬Ÿà°—∫º≈°“√¥”‡π‘πß“π¢Õß∫√‘…—∑·≈–º≈ß“π¢ÕߺŸâ∫√‘À“√·µà≈–∑à“π  à«π§à“µÕ∫·∑π¢Õß°√√¡°“√®–Õ¬Ÿ„à π√Ÿª‡∫’¬È ª√–™ÿ¡·≈–‡ß‘π∫”‡ÀπÁ®ª√–®”ªï ‡∑à“π—Èπ ‚¥¬°“√°”Àπ¥º≈µÕ∫·∑π¢Õß°√√¡°“√¥—ß°≈à“«µâÕߺà“π°“√ Õπÿ¡—µ‘®“°∑’˪√–™ÿ¡ºŸâ∂◊ÕÀÿâπ (¥—ß· ¥ß„πÀ—«¢âÕ§à“µÕ∫·∑πºŸâ∫√‘À“√) ´÷Ë߇ªì𠉪µ“¡À≈—°°“√·≈–π‚¬∫“¬∑’ˉ¥â√—∫Õπÿ¡—µ‘®“°∑’˪√–™ÿ¡ºŸâ∂◊ÕÀÿâπ·≈â«

Directorsû Meeting In 2009, the company arranged 4 directorsû meetings and in each meeting and the Chairman of Board of Directors acted as the Chairman of the meeting. The Chairman of Board of Directors separately performed the duties from the Chairman of Executive Board or companyûs managing director. The audit committee arranged the meeting for 6 times. The Board regularly identifies the meeting and arranges the special meeting deemed as necessary by identifying the clear meeting agenda in advance. The meeting agenda regarding the monitoring of business performance is regularly included. The company submits the invitation letter, meeting agenda, previous meeting minutes and attachments to the Board 7 days in advance so the directors have sufficient time to study the information before the meeting. In each meeting, the Chairman allocates enough time for discussion of each agenda and the relevant executives must attend the meeting in order to explain the information to the Board of Directors in case that the Board requires the additional details. The company prepares the meeting minutes in writing and store the meeting minutes certified by the Board so the Board and relevant parties are able to audit such minutes. Self-evaluation of the Board By using the self-evaluation form of the companyûs Board of Directors. Such form is the form prepared by Thailand Institute of Directors and the company adjusts the form in order to be in compliance with the companyûs situation, especially regarding the roles and duties of directors that should be in accordance with those specified in the companyûs corporate governance policy. The evaluation helps each director and the Board review the problems and threats during the past year and it is the tools for auditing and analyzing in order to recognize whether the Board works efficiently and perform the duties completely according to their duties or not.

Directorsû and Executivesû Remuneration The Board of Directors appointed the Nominating and Remuneration Committee in order to consider the directorsû and executivesû remuneration before proposing the companyûs Board of Directors for decision-making. The Nominating and Remuneration Committee shall compare the remuneration of the companyûs directors with the remuneration standard of other companies in the same business. Regarding the remuneration of the companyûs executives which is in terms of salaries and bonus, it depends on the companyûs business performance and the performance of each executive. For the directorsû remuneration, it is the meeting allowances and annual pension only. The identification of such directorsû remuneration must be approved by the shareholdersû meeting (as mentioned on the topic regarding the executivesû remuneration) which is in compliance with the principle and policy approved by the shareholdersû meeting. °“√æ—≤π“°√√¡°“√·≈–ºŸâ∫√‘À“√ Development of Directors and Executives In order for the Board to better realize the companyûs business, ‡æ◊ËÕ„Àâ§≥–°√√¡°“√√Ÿâ®—°∏ÿ√°‘®¢Õß∫√‘…—∑¥’¬‘Ëߢ÷Èπ ∫√‘…—∑‰¥â®—¥„Àâ¡’°“√ the company arranges the business visit to various companyûs projects at ‡¬’ˬ¡™¡‚§√ß°“√µà“ßÊ ¢Õß∫√‘…—∑Õ¬à“ßπâÕ¬ªï≈– 1 §√—Èß ·≈–∫√‘…—∑¬—߉¥â à߇ √‘¡°“√Ωñ°Õ∫√¡°√√¡°“√·≈–ºŸâ∫√‘À“√ ‚¥¬°√√¡°“√ à«π„À≠à‰¥â‡¢â“ least once a year and the company also conducts training for directors and Õ∫√¡µ“¡À≈—° Ÿµ√¢Õß ¡“§¡ à߇ √‘¡ ∂“∫—π°√√¡°“√∫√‘…—∑‰∑¬ ‡™àπ executives. Most of the directors attend the training conducted by Thailand Institute of Directors such as Director Accreditation Curriculum, Director À≈—° Ÿµ√ Director Accreditation, À≈—° Ÿµ√ Director Certification ‡ªìπµâπ Certification Curriculum, etc.

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√“¬ß“πª√–®”ªï 2552 ∫√‘…—∑ ¡—Ëπ§ß‡§À–°“√ ®”°—¥ (¡À“™π)


°“√§«∫§ÿ¡¿“¬„π Internal Control §≥–°√√¡°“√∫√‘…—∑ ‰¥âµ√–Àπ—°∂÷ߧ«“¡ ”§—≠¢Õß√–∫∫°“√§«∫§ÿ¡¿“¬„π∑’Ë®– ‡ªìπ°≈‰° ”§—≠°“√™à«¬≈¥§«“¡‡ ’ˬß∑“ß∏ÿ√°‘®, ª°ªÑÕߧÿ⡧√Õß∑√—æ¬å ‘π, ∑”„Àâ√“¬ß“π ∑“ß°“√‡ß‘π‡°‘¥§«“¡πà“‡™◊ÕË ∂◊ÕÕ’°∑—ßÈ ¬—߇ªìπ°“√ª°ªÑÕߧÿ¡â §√Õ߇ߑπ≈ß∑ÿπ¢ÕߺŸ∂â Õ◊ Àÿπâ ¢Õß∫√‘…∑— ®÷߉¥â¡Õ∫À¡“¬„Àâ§≥–°√√¡°“√µ√«® Õ∫√—∫º‘¥™Õ∫„π°“√®—¥„Àâ¡’√–∫∫°“√§«∫§ÿ¡¿“¬„π ∑’Ë¡’ª√– ‘∑∏‘¿“æ·≈–∫√‘À“√§«“¡‡ ’ˬ߄ÀâÕ¬Ÿà„π√–¥—∫∑’ˇÀ¡“– ¡

The Board of Directors realizes the importance of an efficient internal control system as an important tool to help reduce business risks, to protect companyûs assets, to generate trust in financial reports and to protect financial investment on behalf of companyûs shareholders. The audit committee is, therefore, responsible for the establishment of efficient internal control system and risk management at an appropriate level.

„πªï 2552 §≥–°√√¡°“√∫√‘…—∑ ·≈–ºŸâ Õ∫∫—≠™’Õ‘ √– ‰¥âæ‘®“√≥“·≈–„À⧫“¡‡ÀÁπ «à“∫√‘…—∑‰¥âªØ‘∫—µ‘ß“πÕ¬à“߇ªìπ‰ªµ“¡¢—ÈπµÕπ∑’Ë°”Àπ¥‰«â ·≈–‰¡àæ∫ª√–‡¥Á𧫓¡º‘¥æ≈“¥ ∑’Ë ”§—≠ ‚¥¬‰¥âª√–‡¡‘π√–∫∫°“√§«∫§ÿ¡¿“¬„π‰«â¥—ßπ’È

In 2009, the Board of Directors and independent auditors considered and agreed that the companyûs operations had follow established procedures and ensured that no substantial mistakes were made. The evaluation of the internal control system comprises:

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Environment Control

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¡’°“√°”Àπ¥π‚¬∫“¬·≈–√–‡∫’¬∫ªØ‘∫—µ‘µà“ßÊ ∑’Ë„À⧫“¡‡ªìπ∏√√¡µàÕ≈Ÿ°§â“·≈– ‡Õ◊ÈÕª√–‚¬™πåµàÕ∫√‘…—∑‰«â‡ªìπ≈“¬≈—°…≥åÕ—°…√ ¡’°“√°”Àπ¥Àπâ“∑’Ë·≈–Õ”π“®§«“¡√—∫º‘¥™Õ∫Õ¬à“ß™—¥‡®π ¡’°“√®—¥‚§√ß √â“ßÕߧå°√∑’˙૬„ÀâΩÉ“¬∫√‘À“√¥”‡π‘πß“πÕ¬à“ß¡’ª√– ‘∑∏‘¿“æ „À⧫“¡ ”§—≠„π¢âÕ°”À𥇰’ˬ«°—∫®√‘¬∏√√¡ (Code of conduct) ·≈–§«“¡´◊ËÕ —µ¬å  ÿ®√‘µ ¢ÕßΩÉ“¬∫√‘À“√·≈–æπ—°ß“π

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The companyûs policies and procedures are fair to customers and beneficial to the company. All policies and procedures were put in writing. The company has established clear duties and proper authority. The companyûs organization supports management efficiency. The company places great emphasis on doing business to an established code of conduct and ensures the honesty of both the management and its employees.

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Appropriate Risk assessment

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¡’°“√æ‘®“√≥“·≈–ª√–‡¡‘π°“√¥”‡π‘π∏ÿ√°‘®¢Õß∫√‘…—∑œ «à“¡’ªí®®—¬§«“¡‡ ’Ë¬ß „¥∫â“ß∑’Ë®–∑”„À⇰‘¥º≈°√–∑∫µàÕ∫√‘…—∑∑—Èß®“°¿“¬„π·≈–¿“¬πÕ° ¡’°“√«‘‡§√“–Àå·≈–µ‘¥µ“¡‚¥¬°”Àπ¥¡“µ√°“√‡æ◊ËÕ≈¥§«“¡‡ ’ˬ߄ÀâÕ¬Ÿà„π√–¥—∫∑’Ë ‡À¡“– ¡ À“°‡°‘¥º≈°√–∑∫µàÕ°“√¥”‡π‘π∏ÿ√°‘®¢Õß∫√‘…—∑

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The company considered and evaluated its business operations with the aim of recognizing various risk factors both internal and external that might affect the organization. The company evaluated and followed up on operations and set up measures to reduce risks to an appropriate level.

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High-quality control activities

°‘®°√√¡§«∫§ÿ¡∑’Ë¥’§◊Õ°“√‰¥â√—∫°“√ πÕßµÕ∫·≈–ªØ‘∫—µ‘µ“¡®“°∑ÿ°§π„π∫√‘…—∑„π «‘∏’°“√·≈–π‚¬∫“¬∑’ËΩÉ“¬∫√‘À“√°”Àπ¥¢÷Èπ ‰¥â·°à

Good control activities must be responded positively among employees. This was done through various methods and policies put in place by the management, including:

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°“√°”Àπ¥Õ”π“®·≈–√–¥—∫°“√Õπÿ¡—µ‘√“¬°“√∑’ˇÀ¡“– ¡ ‡™àπ

Establishing appropriate approval authority and levels:

∫√‘…—∑¡’°“√°”Àπ¥¢Õ∫‡¢µÕ”π“®Àπâ“∑’Ë ·≈–«ß‡ß‘πÕ”π“®Õπÿ¡—µ‘¢ÕßΩÉ“¬∫√‘À“√„π ·µà≈–√–¥—∫‰«âÕ¬à“ß™—¥‡®π·≈–‡ªìπ≈“¬≈—°…≥åÕ—°…√ ¡’°“√·∫àß·¬°Àπâ“∑’˧«“¡√—∫º‘¥™Õ∫„π ß“π¥â“πµà“ßÊ µàÕ‰ªπ’ÈÕÕ°®“°°—π‚¥¬‡¥Á¥¢“¥‡æ◊ËÕ‡ªìπ°“√µ√«® Õ∫´÷Ëß°—π·≈–°—π§◊Õ 1. Àπâ“∑’ËÕπÿ¡—µ‘ 2. Àπâ“∑’Ë∫—π∑÷°√“¬°“√∑“ß∫—≠™’·≈–¢âÕ¡Ÿ≈ “√ π‡∑»·≈– 3. Àπâ“∑’Ë„π°“√¥Ÿ·≈®—¥‡°Á∫∑√—æ¬å ‘π

The company has set up a system, whereby authority is granted in writing, for the approval of budgets at various levels. All duties and responsibilities are completely separated for check-and-balance purpose among three functions take place including: 1. Transaction approval 2. Accounting records and information 3. Assets control and storage.

°“√Õπÿ¡—µ‘„Àâ∑”∏ÿ√°√√¡°—∫ºŸâ∑’ˇ°’ˬ«¢âÕß∑’Ë¡’º≈ºŸ°æ—π∫√‘…—∑„π√–¬–¬“« ‡™àπ —≠≠“ ´◊ÕÈ ¢“¬, °“√°Ÿ¬â ¡◊ , °“√§È”ª√–°—π ‰¥â¡°’ “√µ‘¥µ“¡„ÀâªÆ‘∫µ— µ‘ “¡‡ß◊ÕË π‰¢∑’µË °≈ß°—π‰«âµ≈Õ¥√–¬– ‡«≈“¢Õß —≠≠“∑’Ë¡’º≈ºŸ°æ—π∫√‘…—∑

The approval of all business transactions between the company and related parties which involves long-term engaging transactions such as purchasing contract, loans of guarantees has followed up on condition of the agreement for the entire abiding period.

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¡’°“√·∫àß·¬°Àπâ“∑’Ë∑’ËÕ“®‡Õ◊ÈÕ„À⇰‘¥°“√°√–∑”∑ÿ®√‘µÕÕ°®“°°—π ¡’°“√ªØ‘∫—µ‘µ“¡°ÆÀ¡“¬·≈–¢âÕ∫—ߧ—∫∑’ˇ°’ˬ«¢âÕß

To separate and functions that may encourage fraud or illegalities. To abide by all relevant laws and regulations.

¡’√–∫∫ “√ π‡∑»·≈–°“√ ◊ËÕ “√¢âÕ¡Ÿ≈∑’Ë¥’

Efficient Information and communications systems

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¡’°“√𔇠πÕ¢âÕ¡Ÿ≈∑’Ë ”§—≠µàÕΩÉ“¬∫√‘À“√·≈–§≥–°√√¡°“√∫√‘…—∑ „π°“√µ—¥ ‘π„® Õ¬à“߇撬ßæÕ·≈–∑—πµàÕ‡Àµÿ°“√≥å ¡’À≈—°ªØ‘∫—µ‘„π°“√®—¥‡°Á∫‡Õ° “√∑“ß°“√‡ß‘π‰«â§√∫∂â«π‡ªìπÀ¡«¥À¡Ÿà∑’Ë “¡“√∂ µ√«® Õ∫‰¥â „π°√≥’ ß —¬„π惵‘°“√≥å∑‰Ë’ ¡à ®ÿ √‘µ ®–¡’°“√µ—ßÈ §≥–°√√¡°“√ Õ∫ «π ·≈–¡’°≈àÕß· ¥ß§«“¡§‘¥‡ÀÁ𵑥‰«â∑’Ë∫√‘…—∑ ∫√‘…—∑¡’°“√‡ªî¥‡º¬¢âÕ¡Ÿ≈‡°’ˬ«°—∫√“¬°“√√–À«à“ß°—π°—∫°‘®°“√∑’ˇ°’ˬ«¢âÕß°—π Õ¬à“ß∂Ÿ°µâÕߧ√∫∂â«π ‡™àπ°“√´◊ÈÕ¢“¬ ‘π§â“·≈–°“√∫√‘°“√°—∫°‘®°“√∑’ˇ°’ˬ«¢âÕß°—π

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Important information are timely and amply presented to the management and the Board of Directors for decision-making. The company has a practice for the collection of all financial documents for inspection. If fraudulent behavior is suspected, an investigation committee will be established. A suggestion box is set up on company premises. The company disclosed all information regarding connected transactions correctly and completely. This includes trade and service transactions.

Annual Report 2009 M.K. Real Estate Development Plc.

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Efficient monitoring and evaluation systems The company has adjusted all business practices in accordance with changing situations. An evaluation of operations was undertaken to ensure that they achieve companyûs objectives and policies as established by the Board of Directors. The company regularly inspected and evaluated its operations in compliance with its internal control system. The company has stipulated that the internal audit report must be submitted to the Audit Committee, who approved hiring Multiplus Consulting Co., Ltd. as the internal auditor for the company in 2009. The appointed internal auditor conducted a series of internal audits and summarised audit reports for the Audit Committee, as follows : 1) Assessment on the use of budget comparing to actual income and construction costs for Chuan Chuen Pracha-Uthit and Chuan Chuen Modus Chaeng Wattana projects as of 2008. The internal audit was conducted between 23 and 26 February 2009. When auditing the construction cost of the Chuan Chuen Pracha-Uthit project, the auditor discovered that the actual construction cost was 118% higher than the approved budget, amounting 37 million baht. This was a result of the higher costs charged for land fill, worth about 29 million baht. In the projectûs annual budget, land filling cost had been allocated for an area of 16 rai. However, due to physical constraint of the narrow access to the site, plan was changed to fill all 66 rai of the project at once, resulting in higher cost than original budget. When comparing the total sales budget to actual revenue, the auditor discovered that the revenue was 5% higher than forecasted. Total revenue was derived from housing sales in 2007, worth 162 million baht, and housing sales in 2008, worth 140 million baht. However, when comparing pre-sales bookings (258 million baht in total) with the targeted pre-sales (288 million baht) for the year 2008, the actual pre-sales was 10.36% less than target. The fact that there were several competitorsû projects launched in nearby areas contributed to the lower than expected pre-sales. When auditing the construction cost of the Chuan Chuen Modus Chaeng Wattana project, it was found that the actual construction cost was 38% (about 15 million baht) higher than planned. It was the landscaping part of the project that pushed costs higher than originally budgeted, amounting 9.8 million baht. The Accounting Department informed that the cost of the landscaping, including the softscape, hardscape, swimming pool and club house, had not been included in the annual budget because its design could not be finalised in time for the budget. An internal report was subsequently submitted to seek additional budget approval for landscaping work in each area. When comparing total sales budget against actual revenue in the 2008 accounts, it was discovered that revenue in 2008 was 82 million baht less than budgeted. This is because the company had not recognized the 69 units under construction as revenue yet. The auditor also discovered that actual pre-sales bookings (390 million baht) were 117.88% higher than the estimated 179 million baht. In this regard, the company clarified that this was resulted from their well-received house designs, reasonable pricing and prime location.


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2) Risk assessment over consumer confidence for the on-time construction of the Chuan Chuen Modus Chaeng Wattana project The auditor discovered that the company had established systematic, trustworthy and traceable construction management and quality control processes. The company has issued an attractive manual to provide guidelines on quality control standards for construction work, in addition to setting up a central committee to conduct audit work in four major steps. These measures ensured consumers that all housing projects were high in quality and met all requirements. During the audit, the auditor discovered that the companyûs construction department had performed close follow-up on all construction work. However, the department was rather sluggish and compromising when it came to issuing a letter to notify contractors to accelerate their construction work. In placing advertisements in leaflets or brochures to offer premium products as part of sales promotional activities, the company should more clearly specify the exact amount, size, brand and product model, as well as the value of premium products. 3) Assessment on issuance of temporary receipts and formal receipts, as well as comparing cash collection of housing installments to receipts for Chuan Chuen Pracha-Uthit and Chuan Chuen Pinklao-Ring Road projects The auditor looked into the verification of temporary receipts issued by sales offices with formal receipts issued by the head office, in addition to cash collection of housing installment payments and issuing of receipts by means of checking temporary receipts and daily sales reports, as well as comparing it to receipts issued between January and May 2009. No error was found in issuing the receipts of both projects. In assessing cash deposit vouchers against the companyûs bank statements, the auditors discovered that cash deposits were made correctly as recorded. The auditor discovered that temporary receipts were issued at sales offices during the process of booking and contract signing. In making housing installment payments, clients transfer each installment to the companyûs designated banks. The companyûs Finance Department then checks the money deposited into the account and reports it to the Accounting Department at the end of each day. The Accounting Department then issues receipts. After a thorough audit, the auditor found that the overall process was done correctly. The auditor also made a random audit on the data stored in the companyûs account receivable cards and learned that all data correctly corresponded with installment made by clients. The data stored in the account receivable system was accurate and reliable. 4) Assessment on issuance of temporary receipts and formal receipts, as well as comparing cash collection of housing installments to receipts for Chuan Chuen Petchakasem 81 and Chuan Chuen Modus Chaeng Wattana projects In verifying and assessing 289 items, comprising temporary receipts issued at the sales offices with formal receipts issued at the head office, as well as cash collection of installment payments and receipts, deposit slips and company bank statements, by checking cash collection for pre-sales bookings, contract signing and installment payments made between April and July 2009, the auditor found only two items or about 0.69% where dates on the temporary receipts issued at the sales offices did not match the dates on the formal receipts. An investigation revealed that the date specified on the formal receipts followed the dates appearing on the cheques paid to the company for the housing installment payments. This was an recording error found in the system. In assessing cash deposit vouchers and the companyûs bank statement, the auditor discovered that deposits were made correctly with the record of these deposits accurate for both projects. The auditor also learned that most temporary receipts issued at the sales offices were made during the booking and contract signing processes. Installment payments, on the other hand, were made via money transferred to designated bank accounts. The companyûs Finance Department checked total deposits in all bank accounts and submitted a bill payment report to the Accounting Department at the end of each day. The Accounting Department subsequently issued receipts for each payment made. All processes were done correctly. When randomly assessing data in account receivable cards, the auditor found no error in data storage. The data corresponded with the clientûs installment payment record. This is to confirm that data storage in the account receivable cards is accurate and reliable. Annual Report 2009 M.K. Real Estate Development Plc.

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√“¬°“√√–À«à“ß°—π Connected Transactions ∫√‘…∑— ¡’√“¬°“√√–À«à“ß°—π°—∫°‘®°“√∑’‡Ë °’¬Ë «¢âÕß°—π‚¥¬°“√¡’º∂⟠Õ◊ Àÿπâ ·≈–/ À√◊Õ°√√¡°“√√à«¡°—π ‚¥¬√“¬°“√¥—ß°≈à“«‡ªìπ‰ªµ“¡°“√¥”‡π‘πß“π∏ÿ√°‘®ª°µ‘ ∑’ Ë π Õ°®“°®–§”π÷ ß ∂÷ ß º≈ª√–‚¬™πå Ÿ ß  ÿ ¥ ¢Õß∫√‘ … — ∑ ‡ªì π  ”§— ≠ ·≈â « ¬—ß “¡“√∂‡°◊ÕÈ °Ÿ≈∏ÿ√°‘®„π°≈ÿ¡à ´÷ßË ®–„Àâº≈µÕ∫·∑π®“°“√≈ß∑ÿπ°≈—∫¡“¬—ß∫√‘…∑— œ √“¬°“√√–À«à“ß°—π∑’ˇ°‘¥¢÷Èπ‰¥â·°à 1. °“√„Àâ∫√‘°“√ ë ∫√‘…—∑ ·¡π§Õπ ®”°—¥ (¡—Ëπ§ß°“√‚¬∏“) (∫√‘…—∑¬àÕ¬) ë ∫√‘…—∑ ¥Ÿ√“ø≈Õ√å ®”°—¥ (∫√‘…—∑∑’ˇ°’ˬ«¢âÕß) ë ∫√‘…—∑  “¡—§§’´’‡¡πµå ®”°—¥ (∫√‘…—∑√à«¡) ‡ªìπ°“√∑’Ë∫√‘…—∑„Àâ∫√‘°“√‡™à“æ◊Èπ∑’ËÕ“§“√·°à°‘®°“√∑’ˇ°’ˬ«¢âÕß‚¥¬ æ‘®“√≥“°”Àπ¥Õ—µ√“§à“‡™à“®“°√“§“µ≈“¥„πªí®®ÿ∫—π·≈–¡’°“√ª√—∫ √“§“µ“¡¿“«–‡»√…∞°‘®∑’ˇªìπ®√‘ß ‚¥¬¡’¡Ÿ≈§à“√«¡ 2.1 ≈â“π∫“∑ 2. °“√°Ÿâ¬◊¡‡ß‘π√–À«à“ß°—π 2.1 °“√°Ÿâ¬◊¡√–À«à“ß°‘®°“√∑’ˇ°’ˬ«¢âÕß°—π ë ∫√‘…—∑ ·¡π§Õπ ®”°—¥ (∫√‘…—∑¬àÕ¬) ë ∫√‘…—∑  “¡—§§’´’‡¡πµå ®”°—¥ (∫√‘…—∑√à«¡) ë ∫√‘…—∑ ¥Ÿ√“ø≈Õ√å ®”°—¥ (∫√‘…—∑∑’ˇ°’ˬ«¢âÕß) °“√∑¥√Õß®“° ∫√‘…—∑ ·¡π§Õπ ®”°—¥ ‰¡à¡’°“√§‘¥¥Õ°‡∫’Ȭ·≈– ®à“¬§◊π‡¡◊ËÕ∑«ß∂“¡,‡ß‘π∑¥√Õß®“° ∫√‘…—∑ ¥Ÿ√“ø≈Õ√å ®”°—¥ ¡’°“√§‘¥ Õ—µ√“¥Õ°‡∫’Ȭ√–À«à“ß°—π„πÕ—µ√“√âÕ¬≈– 8.00 - 8.75 µàÕªï ·≈– °”Àπ¥®à“¬§◊π‡¡◊ËÕ∑«ß∂“¡ (Õ—µ√“¥Õ°‡∫’Ȭ¥—ß°≈à“«‡ªìπÕ—µ√“ª°µ‘∑’Ë §‘¥°—π„π∏ÿ√°‘®∑—Ë«‰ª) ∫ÿ§§≈∑’Ë¡’º≈ª√–‚¬™πå√à«¡°—π§◊Õ π“¬™«π µ—Èß ¡µ‘∏√√¡, π“ßÕ—≠™—π µ—Èß¡µ‘∏√√¡, 𓬙Ÿ‡°’¬√µ‘ µ—Èß¡µ‘∏√√¡ ( “¡’¿√√¬“·≈–∫ÿ µ √) ´÷ Ë ß ‡ªì π ª√–∏“π°√√¡°“√,°√√¡°“√∫√‘ À “√·≈– °√√¡°“√¢Õß∫√‘…—∑·≈–‡ªìπ°√√¡°“√·≈–ºŸâ∂◊ÕÀÿâπ‡°‘π√âÕ¬≈– 5 „π ∫√‘…—∑ ¥Ÿ√“ø≈Õ√å ®”°—¥ ·≈–∫√‘…—∑  “¡—§§’´’‡¡πµå ®”°—¥ 2.2 °“√°Ÿâ¬◊¡√–À«à“ß∫ÿ§§≈∑’ˇ°’ˬ«¢âÕß°—π ∫√‘…—∑‰¥â√—∫‡ß‘π∑¥√Õß®“°°√√¡°“√ ‚¥¬‰¡à¡’°“√§‘¥¥Õ°‡∫’Ȭ·≈– ∂÷ ß °”Àπ¥®à “ ¬§◊ π ‡¡◊ Ë Õ ∑«ß∂“¡ (¥Ÿ À ¡“¬‡Àµÿ ª √–°Õ∫ß∫°“√‡ß‘ π À¡“¬‡≈¢ 17) π‚¬∫“¬°“√∑”√“¬°“√√–À«à“ß°—π ∫√‘…—∑œ ¡’π‚¬∫“¬°“√∑”√“¬°“√√–À«à“ß°—π°—∫°‘®°“√À√◊Õ∫ÿ§§≈∑’Ë ‡°’¬Ë «¢âÕßÕ¬à“ß ¡‡Àµÿ ¡º≈µ“¡ª°µ‘¢Õß∏ÿ√°‘®∑—«Ë ‰ª¥â«¬§«“¡™—¥‡®π ‚ª√àß„  ·≈–¬ÿµ‘∏√√¡µàÕ≈Ÿ°§â“, §Ÿà§â“, ·≈–ºŸâ∂◊ÕÀÿâπµ≈Õ¥®π°“√√—°…“º≈ª√–‚¬™πå  Ÿß ÿ¥¢Õß∫√‘…—∑œ‡ªì𠔧—≠ §«“¡‡ÀÁπ¢ÕߺŸâ Õ∫∫—≠™’‡°’ˬ«°—∫∫ÿ§§≈∑’Ë¡’º≈ª√–‚¬™πå√à«¡·≈– √“¬°“√√–À«à“ß°—𠂪√¥¥Ÿ√“¬≈–‡Õ’¬¥¬Õ¥§ß‡À≈◊Õµ“¡À¡“¬‡Àµÿª√–°Õ∫ß∫°“√‡ß‘π À¡“¬‡≈¢ 5 ·≈–À¡“¬‡≈¢ 17 ¢—ÈπµÕπ°“√Õπÿ¡—µ‘√“¬°“√ ¡’°“√°”Àπ¥Õ”π“®Õπÿ¡—µ‘µ“¡«ß‡ß‘π∑’Ë°”À𥉫â·≈â«·≈–‡ πÕµàÕ∑’Ë ª√–™ÿ¡§≥–°√√¡°“√µ√«® Õ∫‡æ◊ËÕ Õ∫∑“π√“¬°“√ ‚¥¬§”π÷ß∂÷ߧ«“¡ ‡À¡“– ¡Õ¬à“߇撬ßæÕ ‡æ◊ËÕ¡‘„À⇰‘¥§«“¡¢—¥·¬âß∑“ߺ≈ª√–‚¬™πå

34

√“¬ß“πª√–®”ªï 2552 ∫√‘…—∑ ¡—Ëπ§ß‡§À–°“√ ®”°—¥ (¡À“™π)

The company makes connected-transactions with some related parties, with common shareholders and / or directors. These transactions are in the normal course of business with highest benefits to the company taken into consideration should further benefit the companyûs investment in the future Connected-transactions the support of related business include : 1. Services ë Mancon co., Ltd. (Subsidiary) ë Duraflor Corp., Ltd. (Related Company) ë Samakkee Cement Co., Ltd. (Affiliate) The company operated an office rental service for related businesses. The rental price was determined by rates at the current market value and was adjusted in-line with the present economic climate. The total value was 2.1 Million baht. 2. Loans from connected parties 2.1 Loans from related companies. ë Moncon Company Limited (Subsidiary) ë Samakkee Cement Co., Ltd. (Affiliate) ë Duraflor Corp., Ltd. (Related Company) The companyûs advance from Mancon Company Limited has no interests and payable at call. The companyûs advance from Duraflor Corp., Ltd. Carried interest at the rate of 8.00 - 8.75 per annum and payable at call. (Such interest rates are used in general business transactions). The connected persons include Mr.Chuan Tangmatitham, Mrs. Anchun Tangmatitham and Mr.Chukiat Tangmatitham (Husband, wife and son). These parties are the companyûs chairman, executive director and the director who holds over 5% stake in Duraflor Corp., Ltd. Shares and Samakkee Cement Co., Ltd. 2.2 Loans between related persons The company received advance from directors which carries no interest and payable at call. (Notes to : Financial Statement # 17) Connected-transaction policy The company established a practical connected-transaction policy with related parties. The policy was focused on clarity, transparency and impartiality for the customers, traders and shareholders, while ensuring the best interests of the company. Opinions of the auditor on related and connected-transactions Please consult the details contained in Notes to Financial Statements # 5 and # 17 Procedure for approval The authority of approval was based on previously approved financial budgets and has proposal to the audit committee for inspection to avoid any conflict of interest.


§”Õ∏‘∫“¬·≈–°“√«‘‡§√“–Àå∞“π–°“√‡ß‘π·≈–º≈°“√¥”‡π‘πß“π Management Discussion & Analysis of Financial Position and Operating Results ¿“æ√«¡¢Õߺ≈°“√¥”‡π‘πß“π∑’˺à“π¡“ „πªï 2552 ∫√‘…—∑œ “¡“√∂√—∫√Ÿâ√“¬‰¥â®“°°“√¢“¬·≈–∫√‘°“√√«¡ 2,497.09 ≈â“π∫“∑ ‡æ‘Ë¡¢÷Èπ 15.72% ®“°ªï 2551 ·¡â«à“µ≈“¥∫â“π®—¥ √√ ‚¥¬√«¡„πªï 2552 ®–À¥µ—«ª√–¡“≥ 16% ®“°ªï∑’˺à“π¡“ ‚§√ß°“√À≈—°∑’Ë  √â“ß√“¬‰¥â„πªï 2552 ‰¥â·°à ™«π™◊Ëπ‚¡¥—  ·®âß«—≤π–, ™«π™◊Ëπ«—™√æ≈, ™«π™◊Ëπª√–™“Õÿ∑‘»·≈–™«π™◊Ëπ‡æ™√‡°…¡  ”À√—∫√“¬‰¥â®“°°“√¢“¬·≈– ∫√‘°“√Õ◊Ëπª√–°Õ∫¥â«¬ √“¬‰¥â π“¡°Õ≈åø 54.20 ≈â“π∫“∑ ·≈– √“¬‰¥â §à“‡™à“ 14.95 ≈â“π∫“∑ Õ¬Ÿà„π√–¥—∫„°≈⇧’¬ß°—∫ªï∑’˺à“π¡“ ∫√‘…—∑œ ¡’°”‰√‡∫◊ÈÕßµâπ Ÿß∂÷ß 1,014.92 ≈â“π∫“∑ §‘¥‡ªìπÕ—µ√“ à«π °”‰√‡∫◊ÈÕßµâπ (Gross Profit Margin) 40.64%  Ÿß°«à“ªï∑’˺à“π¡“´÷Ëß¡’Õ—µ√“ à«π °”‰√‡∫◊ÈÕßµâπÕ¬Ÿà∑’Ë 38.74% ‡π◊ËÕß®“°°“√√—∫√Ÿâ√“¬‰¥â¢Õß‚§√ß°“√À≈—°Ê ¡’°”‰√‡∫◊ÈÕßµâπ„π√–¥—∫ Ÿß ·≈– “¡“√∂§«∫§ÿ¡µâπ∑ÿπ‰¥âÕ¬à“ß¡’ª√– ‘∑∏‘¿“æ §à“„™â®à“¬„π°“√¢“¬„πªïπ’È≈¥≈ß®“° 72.27 ≈â“π∫“∑ „πªï 2551 ‡ªìπ 65.10 ≈â“π∫“∑ ‡π◊ËÕß®“°„π‰µ√¡“ ·√°¢Õߪï 2551 ¬—߉¡à‰¥â√—∫ ‘∑∏‘ª√–‚¬™πå∑“ß ¿“…’ ∫√‘…—∑œ ®÷ß®à“¬¿“…’∏ÿ√°‘®‡©æ“–„πÕ—µ√“ 3.3% „π¢≥–∑’˪ïπ’ÈÕ—µ√“¿“…’ ∏ÿ√°‘®‡©æ“–‰¥â√—∫°“√≈¥À¬àÕπ‡ªìπ 0.11% ∑—Èßªï ®“°√“¬‰¥â∑’Ë Ÿß¢÷Èπ „π¢≥–∑’Ë ∫√‘…—∑œ ¬—ߧ«∫§ÿ¡§à“„™â®à“¬‰¥â„°≈⇧’¬ßªï∑’˺à“π¡“ ∑”„Àâ§à“„™â®à“¬°“√¢“¬ ·≈–∫√‘À“√µàÕ¬Õ¥¢“¬ (SG&A to Sales) ≈¥≈߇ªìπ 10.86% ®“°™à«ß ‡¥’¬«°—π¢Õߪï∑ºË’ “à π¡“®“° ´÷ßË Õ¬Ÿ∑à Ë’ 12.31% À≈—ß®“°À—°¥Õ°‡∫’¬È ·≈–¿“…’·≈â« ∫√‘…—∑œ ¡’°”‰√ ÿ∑∏‘‡æ‘Ë¡¢÷Èπ‡ªìπ 539.77 ≈â“π∫“∑ π—∫‡ªìπªï∑’Ë∫√‘…—∑œ  “¡“√∂ √â“ß°”‰√®“°°“√¥”‡π‘πß“πª°µ‘‰¥â Ÿß ÿ¥ ·≈–‡µ‘∫‚µ¢÷Èπ 33.52% ‡¡◊ÕË ‡∑’¬∫°—∫ªï∑ºË’ “à π¡“´÷ßË Õ¬Ÿ∑à Ë’ 404.26 ≈â“π∫“∑ Õ—µ√“ à«π°”‰√ ÿ∑∏‘ (Net Profit Margin) 21.40% ¥’¢÷Èπ®“°Õ—µ√“ 18.54% ¢Õߪï 2551 °”‰√µàÕÀÿâπ (EPS) 0.63 ∫“∑µàÕÀÿâπ °”‰√ ÿ∑∏‘∑’ˇæ‘Ë¡¢÷Èππ’È ‡ªìπ‰ª„π∑‘»∑“߇¥’¬«°—∫°√–· ‡ß‘π ¥ ®“°°“√¥”‡π‘πß“π ∑’ˇæ‘Ë¡¢÷Èπ®“° 735.34 ≈â“π∫“∑ ‡ªìπ 793.27 ≈â“π∫“∑ ∞“π–°“√‡ß‘π ∞“π–°“√‡ß‘π¢Õß∫√‘…—∑œ ¡’§«“¡·¢Áß·°√àߢ÷ÈπÕ¬à“ßµàÕ‡π◊ËÕß πÕ°®“° Õ—µ√“ à«πÀπ’È ‘πµàÕ∑ÿπ (D/E Ratio) ´÷Ëß≈¥≈ßÕ¬à“ßµàÕ‡π◊ËÕß ‚¥¬„πªï 2552 π’È ≈¥≈ß®“° 0.43 ‡∑à“‡ªìπ 0.30 ‡∑à“ ‡¡◊ËÕ‡∑’¬∫°—∫ªï∑’˺à“π¡“·≈â« °√–· ‡ß‘π ¥ ®“°°‘®°√√¡¥”‡π‘πß“π°Á¬—ß Ÿß∂÷ß 793.27 ≈â“π∫“∑ „π¢≥–∑’Ë ‘π∑√—æ¬å≈¥≈ß ®“° 6,166.40 ≈â“π∫“∑‡ªìπ 5,986.96 ≈â“π∫“∑ ‡π◊ËÕß¡“®“°°“√ àß¡Õ∫  ‘π§â“„Àâ≈Ÿ°§â“ Àπ’È ‘π√«¡°Áª√—∫µ—«≈¥≈ß¡“°°«à“°“√≈¥≈ߢÕß ‘π∑√—æ¬å§◊Õ ≈¥≈ß∂÷ß 492.11 ≈â“π∫“∑ ®“° 1,859.00 ≈â“π∫“∑ ‡ªìπ 1,366.89 ≈â“π∫“∑ ‡π◊ÕË ß®“°°“√™”√–§◊π‡ß‘π°Ÿ â ∂“∫—π°“√‡ß‘π „π¢≥–∑’ Ë «à π¢ÕߺŸ∂â Õ◊ Àÿπâ ‡æ‘¡Ë  Ÿß¢÷πÈ 312.67 ≈â“π∫“∑ ®“°°”‰√∑’ˇæ‘Ë¡¢÷Èπ ®“° ¿“æ§≈àÕß∑“ß°“√‡ß‘π∑’Ë¡’Õ¬Ÿà Ÿß ∑’˪√–™ÿ¡«‘ “¡—≠ºŸâ∂◊ÕÀÿâπ §√—Èß∑’Ë 1/2551 ‡¡◊ËÕ«—π∑’Ë 19 ¡°√“§¡ 2552 ‰¥â¡’¡µ‘‡ÀÁπ™Õ∫„Àâ∫√‘…—∑œ ´◊ÈÕ§◊πÀÿâπ‡æ◊ËÕ ∫√‘À“√∑“ß°“√‡ß‘π „π«ß‡ß‘π‰¡à‡°‘π 95 ≈â“π∫“∑ °”Àπ¥√–¬–‡«≈“°“√´◊ÈÕ Àÿâπ§◊πµ—Èß·µà 3 °ÿ¡¿“æ—π∏å 2552 ∂÷ß 2  ‘ßÀ“§¡ 2552 ·≈–°”Àπ¥√–¬–‡«≈“ ®”Àπà“¬Àÿπâ ∑ÿπ´◊ÕÈ §◊πµ—ßÈ ·µà 3 °ÿ¡¿“æ—π∏å 2553 ∂÷ß 3  ‘ßÀ“§¡ 2555 ‚¥¬∫√‘…∑— œ ‰¥â´ÕÈ◊ Àÿπâ §◊π„π√–¬–‡«≈“¥—ß°≈à“«√«¡ 6,300,000 Àÿπâ ‡ªìπ‡ß‘π 11,548,084 ∫“∑ ∑’˪√–™ÿ¡ºŸâ∂◊ÕÀÿâπ “¡—≠ª√–®”ªï §√—Èß∑’Ë 1/2552 ‰¥â¡’¡µ‘„Àâ®à“¬ ‡ß‘πªíπº≈„πÕ—µ√“ 0.15 ∫“∑µàÕÀÿâπ √«¡‡ªìπ‡ß‘π 129,905,123.55 ∫“∑ §‘¥ ‡ªìπÕ—µ√“°“√®à“¬‡ß‘πªíπº≈ 32% ¢Õß°”‰√ ÿ∑∏‘ ´÷Ëß Ÿß°«à“π‚¬∫“¬®à“¬ ‡ß‘πªíπº≈¢Õß∫√‘…—∑œ ∑’Ë°”Àπ¥‰«â‰¡àµË”°«à“ 30% ¢Õß°”‰√ª°µ‘ ·≈–∑’Ë ª√–™ÿ¡§≥–°√√¡°“√∫√‘…—∑ §√—Èß∑’Ë 3/2552 ‰¥â¡’¡µ‘„Àâ®à“¬‡ß‘πªíπº≈√–À«à“ß °“≈®“°º≈°“√¥”‡π‘πß“πß«¥ 6 ‡¥◊Õπ¢Õߪï 2552 „πÕ—µ√“ 0.10 ∫“∑µàÕÀÿâπ √«¡‡ªìπ‡ß‘π 86,038,415.70 ∫“∑

Operating Results Sales & service revenue of 2009 stood at Bt. 2,497.09 million, an increase of 15.72% from last year despite the fact that housing market has shrunk by 16% or so. Main projects contributing to sales revenue were Chuan Chuen Modus Chaengwattana, Chuan Chuen Wacharapon, Chuan Chuen Pracha-Uthit and Chuan Chuen Petkasem. Other sales and services revenue include Bt 54.20 million revenue from golf business and Bt 14.95 million from rental, comparable to last yearûs. In 2009, MK has earned Bt 1,014.92 million in gross profit. Gross profit margin rose to 40.64%, comparing to 38.74% of 2008, as major projects recognized were of high profit margin coupled with effective cost management. Selling expenses dropped from Bt 72.27 million last year to Bt 65.10 million because the company were not entitled to tax privileges in Q1/2008 hence the special business tax rate applied then had been 3.3% while the reduced rate of 0.11% was applicable for the whole year of 2009. The Company has managed to control our expenses while earning higher revenues, hence our SG&A to sales ratio dropped to 10.86% from 12.31% of last yearûs. After interest and income tax, MKûs net income of 2009 stood at Bt 539.77 million. It is our highest normalized profit, growing 33.52% from Bt 404.26 million of 2008. Net Profit Margin was 21.40% growing from 18.54% of 2008. Earning Per Share was Bt 0.63. The growing net profit was in line with increasing net operating cash flow from Bt 735.34 million to Bt 793.27 million. Financial Position MKûs financial position has been continually strengthened, reflected from debt to equity (D/E) ratio dropped from 0.43 times at the end of last year to 0.30 times. This reflected a strong financial status, in accordance with high surplus in net operating cash flow of Bt 793.27 million. Meanwhile, assets slightly decreased from Bt 6,166.40 million at the end of 2008 to Bt 5,986.96 million, as a result of inventory decrease due to title deed transfer. Liabilities dropped by Bt 492.11 million, from Bt 1,859.00 million to Bt 1,366.89 million due to debt repayment; meanwhile, shareholdersû equity increased by Bt 312.67 million from increasing profit. Due to the Companyûs high liquidity, the extraordinary shareholderûs meeting no. 1/2008, held on January 19, 2009, has approved that the Company repurchase its shares for financial management purposes, under the share repurchase scheme, within the limitation of Baht 95 million. The period for the repurchase of the shares was from February 3, 2009 to August 2, 2009 and the resale period will be February 3, 2010 until August 3, 2012. During the repurchase period, the Company bought back totally 6,300,000 shares worth Baht 11,548,084. At the ordinary meeting of shareholders no.1/2009, the shareholders passed the resolution to pay dividend at the rate of Bt 0.15 per share, amounting Bt 129,905,123.55. The dividend payout ratio was 32% of profit excluding gain on debt restructuring, while the companyûs policy is minimum 30% dividend payout ratio. Furthermore, the Board of Directorsû meeting no. 3/2009 the interim dividend payment from the earnings of H1/2009 at the rate of Bt 0.10 per share, amounting Bt 86,038,415.70. Annual Report 2009 M.K. Real Estate Development Plc.

35


√“¬ß“π§≥–°√√¡°“√µ√«® Õ∫ Report of Audit Committee §≥–°√√¡°“√∫√‘…—∑ ¡—Ëπ§ß‡§À–°“√ ®”°—¥ (¡À“™π) ‰¥â·µàßµ—Èß §≥–°√√¡°“√µ√«® Õ∫¢Õß∫√‘ … — ∑ ¢÷ È π ‡¡◊ Ë Õ «— π ∑’ Ë 29 ‡¡…“¬π 2552 ´÷ Ë ß ª√–°Õ∫¥â « ¬°√√¡°“√∑’ Ë ¡ ‘ ‰ ¥â ¥ ”√ßµ”·Àπà ß „π§≥–°√√¡°“√∫√‘ À “√ ®”π«π 3 ∑à“π ´÷ßË ‡ªìπ∫ÿ§§≈∑’¡Ë §’ «“¡‡ªìπÕ‘ √–®“°°“√ªØ‘∫µ— ß‘ “π¢Õß∫√‘…∑— œ

The Board of directors of M.K. Real Estate Development Public Company Limited appointed the companyûs audit committee on 29 April 2009, The committee comprises three independent audit members who are not staff members of the company.

§≥–°√√¡°“√µ√«® Õ∫‰¥âªØ‘∫—µ‘Àπâ“∑’ˉ¥â√—∫¡Õ∫À¡“¬„À⇪ìπ‰ª µ“¡π‚¬∫“¬¢Õߧ≥–°√√¡°“√∫√‘…—∑œ ‚¥¬„À⧫“¡ ”§—≠°—∫°“√°”°—∫ ¥Ÿ·≈°‘®°“√∑’¥Ë ’ §«“¡‚ª√àß„  §«“¡ ¡‡Àµÿ ¡º≈·≈–Õ¬Ÿ„à π°√Õ∫®√‘¬∏√√¡∑’¥Ë ’ ‚¥¬‰¥â¡’°“√ª√–™ÿ¡√«¡ 6 §√—Èß ‡æ◊ËÕæ‘®“√≥“„πª√–‡¥Áπ “√– ”§—≠ ¥—ßπ’È

In 2009, the audit committee performed is duties in accordance with the companyûs policies as set by the board of directors. The committee organized six meetings to consider several issues, summarized as follows :

ë Õ∫∑“πß∫°“√‡ß‘π√“¬‰µ√¡“ ·≈–ß∫°“√‡ß‘πª√–®”ªï„À⇪ìπ‰ª

µ“¡¡“µ√∞“π°“√∫—≠™’∑’Ë√—∫√Õß∑—Ë«‰ª, „Àâ¡’§«“¡∂Ÿ°µâÕߧ√∫∂â«π µ“¡¢â Õ °”Àπ¥¢Õßµ≈“¥À≈— ° ∑√— æ ¬å , ¡’ ° “√‡ªî ¥ ‡º¬¢â Õ ¡Ÿ ≈ „π ß∫°“√‡ß‘πÕ¬à“߇撬ßæÕ ·≈–‡ªìπ‰ªµ“¡¢âÕ°”Àπ¥¢Õß°ÆÀ¡“¬

annual budget to ensure their accuracy in accordance with Stock Exchange of Thailand requirements. Make sure that the financial statements are transparent and accurate in accordance with the law.

ë æ‘®“√≥“«‘‡§√“–Àå√–∫∫°“√§«∫§ÿ¡¿“¬„π¢Õß∫√‘…—∑œ ‡æ◊ËÕ„Àâ

ë Review the internal audit to be appropriately conducted. Provide

ë Review the companyûs financial statement in each quarter and its

¢âÕ‡ πÕ·π–·°àΩÉ“¬∫√‘À“√„π°“√𔉪‡ªìπ·π«∑“ß°“√ªØ‘∫—µ‘ Õ¬à“߇À¡“– ¡‡æ◊ËÕ„À⇰‘¥°“√æ—≤𓧫“¡ “¡“√∂„π°“√ √â“ß √“¬‰¥â·≈–¢¬“¬∞“π¢Õß≈Ÿ°§â“„Àâ‡æ‘Ë¡¢÷ÈπÕ¬à“ß ¡Ë”‡ ¡Õ

ë Acknowledge and comment on financial statement issues before

ë √—∫∑√“∫·≈–‡ πÕ§«“¡§‘¥‡ÀÁπ‡æ◊ÕË À“·π«∑“ߪ√—∫ª√ÿß·°â‰¢ª√–‡¥Áπ

ë Follow up on the companyûs performance to ensure it meets SET

∑’¡Ë ’ “√– ”§—≠„πß∫°“√‡ß‘π°àÕπ Õ∫∑“π√à«¡°—∫ºŸ â Õ∫∫—≠™’Õ ‘ √– ë æ‘®“√≥“°“√ªØ‘∫—µ‘ß“π¢Õß∫√‘…—∑œ „À⇪ìπ‰ªµ“¡°Æ‡°≥±å¢Õß

µ≈“¥À≈—°∑√—æ¬å·≈–µ“¡∑’Ë°ÆÀ¡“¬°”Àπ¥ ë æ‘ ® “√≥“·≈–𔇠πÕ°“√·µà ß µ— È ß ºŸ â   Õ∫∫— ≠ ™’ ¢ Õß∫√‘ … — ∑ ·≈–

∫√‘…∑— ¬àÕ¬ª√–®”ªï 2553 µàÕ§≥–°√√¡°“√∫√‘…∑— œ ‡æ◊ÕË π”‡ πÕµàÕ ∑’˪√–™ÿ¡ºŸâ∂◊ÕÀÿâπ„π°“√æ‘®“√≥“Õπÿ¡—µ‘ §≥–°√√¡°“√µ√«® Õ∫‰¥âªØ‘∫µ— À‘ πâ“∑’ÕË ¬à“ß¡’Õ ‘ √– ·≈–‰¥â·≈°‡ª≈’¬Ë π ¢âÕ§‘¥‡ÀÁπ√«¡∑—Èß„Àâ¢âÕ‡ πÕ·π–µà“ßÊ °—∫ΩÉ“¬∫√‘À“√„π°“√ªØ‘∫—µ‘ß“π „À⇪ìπ‰ªµ“¡°“√°”°—∫¥Ÿ·≈°‘®°“√∑’Ë¥’Õ—π‡ªìπ√“°∞“𠔧—≠¢Õß°“√‡µ‘∫‚µ Õ¬à“ß¡—Ëπ§ßµàÕ‰ª¢Õß∫√‘…—∑

comments and advice to the management team. joining with independent auditors for a review. and legal requirements. ë Consider and propose to the board of directors the appointment of

an auditor for 2010 for further proposal for the approval of the shareholders at the 2010 annual general meeting. The audit committee undertook all its duties independently and discussed various issues with the management team in accordance with the principles of Good Governance, which is considered fundamental to the companyûs continued growth.

𓬇°…¡ ±Ÿ√°ƒ…≥“ (ª√–∏“π§≥–°√√¡°“√µ√«® Õ∫)

17 °ÿ¡¿“æ—π∏å 2553

36

√“¬ß“πª√–®”ªï 2552 ∫√‘…—∑ ¡—Ëπ§ß‡§À–°“√ ®”°—¥ (¡À“™π)

Mr. Kasem Thurkisan (Chairman of Audit Committee)

17 February 2010


√“¬ß“π¢ÕߺŸâ Õ∫∫—≠™’√—∫Õπÿ≠“µ AUDITORûS REPORT ‡ πÕ ºŸâ∂◊ÕÀÿâπ·≈–§≥–°√√¡°“√ ∫√‘…—∑ ¡—Ëπ§ß‡§À–°“√ ®”°—¥ (¡À“™π) ·≈–∫√‘…—∑¬àÕ¬

To

¢â“懮Ⓣ¥âµ√«® Õ∫ß∫¥ÿ≈√«¡ ≥ «—π∑’Ë 31 ∏—𫓧¡ 2552 ·≈– 2551 ß∫°”‰√¢“¥∑ÿπ√«¡ ß∫· ¥ß°“√‡ª≈’ˬπ·ª≈ß à«π¢ÕߺŸâ∂◊ÕÀÿâπ√«¡ ·≈– ß∫°√–· ‡ß‘π ¥√«¡  ”À√—∫ªï ‘Èπ ÿ¥«—π‡¥’¬«°—π¢Õß∫√‘…—∑ ¡—Ëπ§ß‡§À–°“√ ®”°—¥ (¡À“™π) ·≈–∫√‘…—∑¬àÕ¬ ·≈–ß∫¥ÿ≈ ≥ «—π∑’Ë 31 ∏—𫓧¡ 2552 ·≈– 2551 ß∫°”‰√¢“¥∑ÿπ ß∫· ¥ß°“√‡ª≈’ˬπ·ª≈ß à«π¢ÕߺŸâ∂◊ÕÀÿâπ ·≈– ß∫°√–· ‡ß‘π ¥  ”À√—∫ªï ‘Èπ ÿ¥«—π‡¥’¬«°—π¢Õß∫√‘…—∑ ¡—Ëπ§ß‡§À–°“√ ®”°—¥ (¡À“™π) ´÷ËߺŸâ∫√‘À“√¢Õß°‘®°“√‡ªìπºŸâ√—∫º‘¥™Õ∫µàÕ§«“¡∂Ÿ°µâÕß·≈– §√∫∂â«π¢ÕߢâÕ¡Ÿ≈„π ß∫°“√‡ß‘π¥—ß°≈à“«  à«π¢â“懮ⓇªìπºŸâ√—∫º‘¥™Õ∫ „π°“√· ¥ß§«“¡‡ÀÁπµàÕß∫°“√‡ß‘π¥—ß°≈à“«®“°º≈°“√µ√«® Õ∫¢Õߢâ“懮ⓠ¢â“懮Ⓣ¥âªØ‘∫—µ‘ß“πµ√«® Õ∫µ“¡¡“µ√∞“π°“√ Õ∫∫—≠™’∑’Ë√—∫√Õß ∑—Ë«‰ª ´÷Ëß°”Àπ¥„Àâ¢â“懮⓵âÕß«“ß·ºπ·≈–ªØ‘∫—µ‘ß“π‡æ◊ËÕ„À≥⧫“¡‡™◊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∑’ˇªìπ®”π«π‡ß‘π ·≈–°“√‡ªî¥‡º¬¢âÕ¡Ÿ≈„πß∫°“√‡ß‘π °“√ª√–‡¡‘𠧫“¡‡À¡“– ¡¢ÕßÀ≈—°°“√∫—≠™’∑’Ë°‘®°“√„™â·≈–ª√–¡“≥°“√‡°’ˬ«°—∫ √“¬°“√∑“ß°“√‡ß‘π∑’ˇªìπ “√– ”§—≠ ´÷ËߺŸâ∫√‘À“√‡ªìπºŸâ®—¥∑”¢÷Èπµ≈Õ¥®π °“√ª√–‡¡‘π∂÷ߧ«“¡‡À¡“– ¡¢Õß°“√· ¥ß√“¬°“√∑’Ë𔇠πÕ„πß∫°“√‡ß‘π ‚¥¬√«¡ ¢â“懮Ⓡ™◊ËÕ«à“°“√µ√«® Õ∫¥—ß°≈à“«„Àâ¢âÕ √ÿª∑’ˇªìπ‡°≥±åÕ¬à“ß ‡À¡“– ¡„π°“√· ¥ß§«“¡‡ÀÁπ¢Õߢâ“懮ⓠ¢â“懮ⓇÀÁπ«à“ ß∫°“√‡ß‘π¢â“ßµâππ’È· ¥ß∞“π–°“√‡ß‘π√«¡ ≥ «—π∑’Ë 31 ∏—𫓧¡ 2552 ·≈– 2551 º≈°“√¥”‡π‘πß“π√«¡ °“√‡ª≈’ˬπ·ª≈ß à«π¢ÕߺŸâ ∂◊ÕÀÿâπ√«¡ ·≈–°√–· ‡ß‘π ¥√«¡  ”À√—∫ªï ‘Èπ ÿ¥«—π‡¥’¬«°—π¢Õß∫√‘…—∑ ¡—Ëπ§ß‡§À–°“√ ®”°—¥ (¡À“™π) ·≈–∫√‘…—∑¬àÕ¬ ·≈–∞“π–°“√‡ß‘π ≥ «—π∑’Ë 31 ∏—𫓧¡ 2552 ·≈– 2551 º≈°“√¥”‡π‘πß“π °“√‡ª≈’ˬπ·ª≈ß à«π¢ÕߺŸâ∂◊Õ Àÿâπ ·≈–°√–· ‡ß‘π ¥  ”À√—∫ªï ‘Èπ ÿ¥«—π‡¥’¬«°—π¢Õß∫√‘…—∑ ¡—Ëπ§ß‡§À–°“√ ®”°—¥ (¡À“™π) ‚¥¬∂Ÿ°µâÕßµ“¡∑’˧«√„π “√– ”§—≠µ“¡À≈—°°“√∫—≠™’∑’Ë √—∫√Õß∑—Ë«‰ª

I have audited the accompanying consolidated balance sheets of M.K. Real Estate Development Public Company Limited and its subsidiaries as at December 31, 2009 and 2008, the related consolidated statements of income the consolidated statements of changes in shareholdersû equity, and cash flows year then ended and the balance sheets of M.K. Real Estate Development Public Company Limited as at December 31, 2009 and 2008, the statements of income, changes in shareholdersû equity and cash flows for the year then ended. These financial statements are the responsibility of the Companyûs management as to their correctness and 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 consolidated financial position of M.K. Real Estate Development Public Company Limited and its subsidiaries as at December 31, 2009 and 2008, the consolidated results of their operations, changes in their shareholdersû equity and their cash flows for the year then ended and the financial position of M.K. Real Estate Development Public Company Limited as at December 31, 2009 and 2008, the results of its operations, the changes in its shareholdersû equity and its cash flows for the year then ended in conformity with generally accepted accounting principles.

(π“ß “«®—π∑√“ «àÕß»√’Õÿ¥¡æ√) ºŸâ Õ∫∫—≠™’√—∫Õπÿ≠“µ ∑–‡∫’¬π‡≈¢∑’Ë 4996 ∫√‘…—∑  Õ∫∫—≠™’∏√√¡π‘µ‘ ®”°—¥ °√ÿ߇∑æ¡À“π§√ «—π∑’Ë 16 °ÿ¡¿“æ—π∏å 2553

The Shareholders and Board of Directors of M.K. Real Estate Development Public Company Limited and its subsidiaries

(Miss Chantra Wongsri-Udomporn) Certified Public Accountant Registration No. 4996 Dharmniti Auditing Company Limited Bangkok, Thailand February 16, 2010 Annual Report 2009 M.K. Real Estate Development Plc.

37


ß∫¥ÿ≈ ≥ «—π∑’Ë 31 ∏—𫓧¡ 2552 ·≈– 2551 BALANCE SHEET As At December 31, 2009 and 2008 ∫√‘…—∑ ¡—Ëπ§ß‡§À–°“√ ®”°—¥ (¡À“™π) ·≈–∫√‘…—∑¬àÕ¬ / M.K. Real Estate Development Public Company Limited and Subsidiaries ∫“∑ / Baht ß∫°“√‡ß‘π√«¡ ß∫°“√‡ß‘π‡©æ“–∫√‘…—∑ ‘π∑√—æ¬å / ASSETS À¡“¬‡Àµÿ Consolidated Financial Statements The Companyûs Financial Statements Only Note 2552/2009 2551/2008 2552/2009 2551/2008  ‘π∑√—æ¬åÀ¡ÿπ‡«’¬π CURRENT ASSETS ‡ß‘π ¥·≈–√“¬°“√‡∑’¬∫‡∑à“‡ß‘π ¥ Cash and cash equivalents ≈Ÿ°Àπ’È°“√§â“·≈–∑’ˬ—߉¡à‰¥â‡√’¬°‡°Á∫ Accounts and unbilled receivables - trade ≈Ÿ°Àπ’È∫√‘…—∑∑’ˇ°’ˬ«¢âÕß°—π Accounts receivable from related company ≈Ÿ°Àπ’È·≈–‡ß‘π∑¥√Õß·°à°‘®°“√∑’ˇ°’ˬ«¢âÕß°—π Receivables and advances to related parties  ‘π§â“§ß‡À≈◊Õ -  ÿ∑∏‘ Inventories - net ∑’Ë¥‘π√Õ°“√æ—≤π“·≈–‡æ◊ËÕ¢“¬ -  ÿ∑∏‘ Land for development and for sales - net ‡ß‘π¡—¥®” - §à“´◊ÈÕ∑’Ë¥‘π Deposit for purchase of land  ‘π∑√—æ¬åÀ¡ÿπ‡«’¬πÕ◊Ëπ Other current assets √«¡ ‘π∑√—æ¬åÀ¡ÿπ‡«’¬π Total Current Assets

4.3, 6

26,928,916

12,093,849

26,726,827

11,909,181

4.4

29,411,104

16,299,632

29,411,104

14,535,811

5

-

-

10,611,700

44,725,215

5

-

-

18,901,597

28,498,892

4.5,4.6, 7, 8

3,042,191,599

3,301,625,795

2,968,977,546

3,214,364,510

4.5,7,8

1,844,138,858

1,784,631,867

1,825,797,802

1,762,476,226

5,050,000

150,000

5,050,000

150,000

7,258,968

6,395,240

7,257,010

6,281,906

4,954,979,445

5,121,196,383

4,892,733,586

5,082,941,741

4.7, 9

129,517,010

133,907,48

143,086,092

143,086,092

4.7, 9

-

-

25,940,000

25,940,000

4.8, 10

24,116,590

24,116,590

23,177,040

23,177,040

140,000

140,000

130,000

130,000

24,256,590

24,256,590

23,307,040

23,307,040

4.9, 7, 11

792,335,797

805,410,729

792,332,915

805,406,601

4.9, 12

38,328,699

42,472,342

38,328,699

42,472,342

4.10,13

886,072

1,183,087

886,072

1,183,087

14

44,369,221

35,963,656

44,365,453

35,963,656

15

2,285,631

2,013,141

2,074,381

1,801,891

1,031,979,020

1,045,207,026

1,070,320,652

1,079,160,709

5,986,958,465

6,166,403,409

5,963,054,238

6,162,102,450

28(§), (C)

‘π∑√—æ¬å‰¡àÀ¡ÿπ‡«’¬π NON-CURRENT ASSETS ‡ß‘π≈ß∑ÿπ„π∫√‘…—∑√à«¡ Investments in associated companies ‡ß‘π≈ß∑ÿπ„π∫√‘…—∑¬àÕ¬ Investments in subsidiaries ‡ß‘π≈ß∑ÿπ√–¬–¬“«Õ◊Ëπ (‡ß‘π≈ß∑ÿπ∑—Ë«‰ª) Other long-term investments - √“§“∑ÿπ (General investment) - at cost °‘®°“√∑’ˇ°’ˬ«¢âÕß°—π Related companies Õ◊ËπÊ Others √«¡‡ß‘π≈ß∑ÿπ√–¬–¬“«Õ◊Ëπ Total other long-term investments ∑’Ë¥‘π Õ“§“√·≈–Õÿª°√≥å -  ÿ∑∏‘ Property, plant and equipment - net  ‘∑∏‘°“√‡™à“ -  ÿ∑∏‘ Leashold right on land and building  ‘π∑√—æ¬å‰¡à¡’µ—«µπ -  ÿ∑∏‘ Intangible assets - net ‡ß‘πΩ“°∑’˵‘¥¿“√–§È”ª√–°—π Deposit pledged as collateral  ‘π∑√—æ¬å‰¡àÀ¡ÿπ‡«’¬πÕ◊Ëπ -  ÿ∑∏‘ Other non-current assets - net √«¡ ‘π∑√—æ¬å‰¡àÀ¡ÿπ‡«’¬π Total Non-Current Assets √«¡ ‘π∑√—æ¬å TOTAL ASSETS

4.8

À¡“¬‡Àµÿª√–°Õ∫ß∫°“√‡ß‘π‡ªìπ à«πÀπ÷ËߢÕßß∫°“√‡ß‘ππ’È / Notes to financial statements form an integral part of these statements. √“¬ß“πª√–®”ªï 2552 ∫√‘…—∑ ¡—Ëπ§ß‡§À–°“√ ®”°—¥ (¡À“™π)

38


ß∫¥ÿ≈ (µàÕ) ≥ «—π∑’Ë 31 ∏—𫓧¡ 2552 ·≈– 2551 BALANCE SHEET (Cont.) As At December 31, 2009 and 2008 ∫√‘…—∑ ¡—Ëπ§ß‡§À–°“√ ®”°—¥ (¡À“™π) ·≈–∫√‘…—∑¬àÕ¬ / M.K. Real Estate Development Public Company Limited and Subsidiaries ∫“∑ / Baht ß∫°“√‡ß‘π√«¡ ß∫°“√‡ß‘π‡©æ“–∫√‘…—∑ Àπ’È ‘π·≈– à«π¢ÕߺŸâ∂◊ÕÀÿâπ / À¡“¬‡Àµÿ Consolidated Financial Statements The Companyûs Financial Statements Only LIABILITIES AND SHAREHOLDERûS EQUITY Note 2552/2009 2551/2008 2552/2009 2551/2008 Àπ’ È π‘ À¡ÿπ‡«’¬π CURRENT LIABILITIES ‡ß‘π‡∫‘°‡°‘π∫—≠™’·≈–‡ß‘π°Ÿâ¬◊¡√–¬– —Èπ®“° ∂“∫—π°“√‡ß‘π 7, 16 Bank overdrafts and short-term loans from financial institutions ‡®â“Àπ’È·≈–µ—Ϋ‡ß‘π®à“¬°“√§â“ Trade accounts and notes payable ‡®â“Àπ’ȧà“∑’Ë¥‘π 28 (¢), (B) Payable for purchase of land Àπ’È ‘π√–¬–¬“«∑’Ë∂÷ß°”Àπ¥™”√–¿“¬„πÀπ÷Ëߪï 7, 20 Current portion of long-term debts ‡®â“Àπ’ȇ™à“´◊ÈÕ∑’Ë∂÷ß°”Àπ¥™”√–¿“¬„πÀπ÷Ëߪï 21 Current portion of hire-purchase ‡ß‘π∑¥√Õß®“°°√√¡°“√ 17 Advance from director ‡ß‘π∑¥√Õß®“°°‘®°“√∑’ˇ°’ˬ«¢âÕß°—π 5 Advance from related parties ‡ß‘π°Ÿâ¬◊¡√–¬– —Èπ®“°∫ÿ§§≈¿“¬πÕ° 18 Short-term loan from other parties ¿“…’‡ß‘π‰¥â𑵑∫ÿ§§≈§â“ß®à“¬ Accrued income tax Àπ’È ‘πÀ¡ÿπ‡«’¬πÕ◊Ëπ 19 Other current liabilities √«¡Àπ’È ‘πÀ¡ÿπ‡«’¬π Total Current Liabilities

639,889

47,077,779

639,889

46,823,075

130,552,567

118,031,762

129,783,879

114,778,403

70,655,953

80,000,000

70,655,953

80,000,000

16,894,663

108,844,428

16,894,663

108,844,428

432,296

683,619

432,296

683,619

26,546,969

35,825,824

26,546,969

35,825,824

10,000,000

13,200,000

10,000,000

13,200,000

6,000,000

10,000,000

6,000,000

10,000,000

105,849,097

95,891,121

102,308,862

90,552,193

273,831,357

288,711,304

268,036,978

281,260,818

641,402,791

798,265,837

631,299,489

781,968,360

704,673,363

1,038,603,676

675,027,363

1,038,603,676

164,002

596,298

164,002

596,298

20,645,166

21,532,194

20,645,166

21,532,194

725,482,531

1,060,732,168

695,836,531

1,060,732,168

1,366,885,322

1,858,998,005

1,327,136,020

1,842,700,528

Àπ’È ‘π‰¡àÀ¡ÿπ‡«’¬π NON-CURRENT LIABILITIES Àπ’È ‘π√–¬–¬“« -  ÿ∑∏‘®“° à«π∑’Ë∂÷ß°”Àπ¥™”√–¿“¬„πÀπ÷Ëߪï 7, 20 Long-term debts - net of current portion ‡®â“Àπ’ȇ™à“´◊ÈÕ -  ÿ∑∏‘ 4.13, 21 Hire-purchase contract payable - net Àπ’È ‘π‰¡àÀ¡ÿπ‡«’¬πÕ◊Ëπ Other non-current liabilities √«¡Àπ’È ‘π‰¡àÀ¡ÿπ‡«’¬π Total Non-Current Liabilities √«¡Àπ’È ‘π TOTAL LIABILITIES

À¡“¬‡Àµÿª√–°Õ∫ß∫°“√‡ß‘π‡ªìπ à«πÀπ÷ËߢÕßß∫°“√‡ß‘ππ’È / Notes to financial statements form an integral part of these statements. Annual Report 2009 M.K. Real Estate Development Plc.

39


ß∫¥ÿ≈ (µàÕ) ≥ «—π∑’Ë 31 ∏—𫓧¡ 2552 ·≈– 2551 BALANCE SHEET (Cont.) As At December 31, 2009 and 2008 ∫√‘…—∑ ¡—Ëπ§ß‡§À–°“√ ®”°—¥ (¡À“™π) ·≈–∫√‘…—∑¬àÕ¬ / M.K. Real Estate Development Public Company Limited and Subsidiaries ∫“∑ / Baht ß∫°“√‡ß‘π√«¡ ß∫°“√‡ß‘π‡©æ“–∫√‘…—∑ Àπ’È ‘π·≈– à«π¢ÕߺŸâ∂◊ÕÀÿâπ (µàÕ) / À¡“¬‡Àµÿ Consolidated Financial Statements The Companyûs Financial Statements Only LIABILITIES AND SHAREHOLDERûS EQUITY (Cont.) Note 2552/2009 2551/2008 2552/2009 2551/2008  à«π¢ÕߺŸâ∂◊ÕÀÿâπ SHAREHOLDERSû EQUITY ∑ÿπ‡√◊ÕπÀÿâπ Share capital ∑ÿπ®¥∑–‡∫’¬π Authorized share capital Àÿâπ “¡—≠ 867,616,848 Àÿâπ ¡Ÿ≈§à“Àÿâπ≈– 1.00 ∫“∑ 867,616,848 ordinary shares of Baht 1.00 each ∑ÿπ∑’ËÕÕ°·≈–‡√’¬°™”√–‡µÁ¡¡Ÿ≈§à“·≈â« Issued and paid-up share capital Àÿâπ “¡—≠ 866,684,157 Àÿâπ ¡Ÿ≈§à“Àÿâπ≈– 1.00 ∫“∑ 866,684,157 ordinary shares of Baht 1.00 each  à«π‡°‘π¡Ÿ≈§à“Àÿâπ Premium on share capital º≈µà“ß®“°°“√·ª≈ߧà“ß∫°“√‡ß‘π Currency conversion differences °”‰√ (¢“¥∑ÿπ)  – ¡ Retained earnings (Deficit) ®—¥ √√·≈â« Appropriated -  ”√Õßµ“¡°ÆÀ¡“¬ Legal reserve -  ”√ÕßÀÿâπ∑ÿπ´◊ÈÕ§◊π Treasury shares reserve ¬—߉¡à‰¥â®—¥ √√ Retained earnings √«¡ à«π¢ÕߺŸâ∂◊ÕÀÿâπ∫√‘…—∑„À≠à Total shareholdersû equity of parent company À—° Àÿâπ∑ÿπ´◊ÈÕ§◊π Less treasury shares √«¡ à«π¢ÕߺŸâ∂◊ÕÀÿâπ∫√‘…—∑„À≠à -  ÿ∑∏‘ Total shareholdersû equity of parent company - net  à«π¢ÕߺŸâ∂◊ÕÀÿâπ à«ππâÕ¬„π∫√‘…—∑¬àÕ¬ Minority interest in subsidiaries √«¡ à«π¢ÕߺŸâ∂◊ÕÀÿâπ -  ÿ∑∏‘ TOTAL SHAREHOLDERûS EQUITY - NET √«¡Àπ’È ‘π·≈– à«π¢ÕߺŸâ∂◊ÕÀÿâπ TOTAL LIABILITIES AND SHAREHOLDERSûS EQUITY

22

23

867,616,848

867,616,848

867,616,848

867,616,848

866,684,157

866,684,157

866,684,157

866,684,157

1,020,836,033

1,020,836,033

1,020,836,033

1,020,836,033

65,550

65,550

65,550

65,550

86,761,685

86,761,685

86,761,685

86,761,685

11,548,084

-

11,548,084

-

2,643,338,857

2,331,043,473

2,661,570,793

2,345,054,497

4,629,234,366

4,305,390,898

4,647,466,302

4,319,401,922

(11,548,084)

-

(11,548,084)

-

4,617,686,282

4,305,390,898

4,635,918,218

4,319,401,922

2,386,861

2,014,506

-

-

4,620,073,143

4,307,405,404

4,635,918,218

4,319,401,922

5,986,958,465

6,166,403,409

5,963,054,238

6,162,102,450

À¡“¬‡Àµÿª√–°Õ∫ß∫°“√‡ß‘π‡ªìπ à«πÀπ÷ËߢÕßß∫°“√‡ß‘ππ’È / Notes to financial statements form an integral part of these statements. √“¬ß“πª√–®”ªï 2552 ∫√‘…—∑ ¡—Ëπ§ß‡§À–°“√ ®”°—¥ (¡À“™π)

40


ß∫°”‰√¢“¥∑ÿπ ”À√—∫ªï ‘Èπ ÿ¥«—π∑’Ë 31 ∏—𫓧¡ 2552 ·≈– 2551 STATEMENTS OF INCOME For the Years ended December 31, 2009 and 2008 ∫√‘…—∑ ¡—Ëπ§ß‡§À–°“√ ®”°—¥ (¡À“™π) ·≈–∫√‘…—∑¬àÕ¬ / M.K. Real Estate Development Public Company Limited and Subsidiaries ∫“∑ / Baht ß∫°“√‡ß‘π√«¡ ß∫°“√‡ß‘π‡©æ“–∫√‘…—∑ À¡“¬‡Àµÿ Consolidated Financial Statements The Companyûs Financial Statements Only Note 2552/2009 2551/2008 2552/2009 2551/2008 √“¬‰¥â 4.2, 29 REVENUES √“¬‰¥â®“°°“√¢“¬·≈–∫√‘°“√ Sales and service income √“¬‰¥âÕ◊Ëπ 5 Other income º≈¢“¥∑ÿπ®“°°“√¥âÕ¬§à“¢Õ߇ߑπ≈ß∑ÿπ„π∫√‘…—∑¬àÕ¬ (‚Õπ°≈—∫) Loss on impairment of investment in subsidiary (reversal) √«¡√“¬‰¥â Total revenues §à“„™â®à“¬ 4.2, 29

2,497,088,844

2,157,799,586

2,447,931,005

2,079,012,357

25,753,639

23,025,881

32,360,993

23,189,778

-

-

-

25,940,000

2,522,842,483

2,180,825,467

2,480,291,998

2,128,142,135

1,482,168,724

1,321,779,107

1,450,612,913

1,296,500,437

65,101,164

72,256,799

64,881,011

71,154,845

169,112,194

161,695,184

167,345,683

159,781,308

37,076,187

31,570,932

36,341,187

30,987,332

-

15,402,955

-

15,402,955

1,753,458,269

1,602,704,977

1,719,180,794

1,573,826,877

(4,390,471)

3,382,695

-

-

764,993,743

581,503,185

761,111,204

554,315,258

11,981,985

20,362,997

11,098,038

18,861,593

753,011,758

561,140,188

750,013,166

535,453,665

212,550,321

155,374,706

206,018,172

141,918,122

540,461,437

405,765,482

543,994,994

393,535,543

539,774,082

404,262,989

543,994,994

393,535,543

687,355

1,502,493

-

-

540,461,437

405,765,482

543,994,994

393,535,543

0.63

0.47

0.63

0.45

EXPENSES µâπ∑ÿπ¢“¬·≈–∫√‘°“√ Cost of sales and service §à“„™â®à“¬„π°“√¢“¬ Selling expenses §à“„™â®à“¬„π°“√∫√‘À“√ Administrative expenses §à“µÕ∫·∑πºŸâ∫√‘À“√ Management benefit expenses §à“„™â®à“¬Õ◊Ëπ Other expenses √«¡§à“„™â®à“¬ Total expenses à«π·∫àß°”‰√ (¢“¥∑ÿπ) ®“°‡ß‘π≈ß∑ÿπ∫√‘…—∑√à«¡µ“¡«‘∏’ à«π‰¥â‡ ’¬9 Sharing in profits (loss) from associated companiesû investments, using the equity method °”‰√°àÕπ§à“„™â®à“¬∑“ß°“√‡ß‘π·≈–¿“…’‡ß‘π‰¥â Income before financial costs and income tax expenses §à“„™â®à“¬∑“ß°“√‡ß‘π 5 Financial costs °”‰√°àÕπ¿“…’‡ß‘π‰¥â Income before income tax expenses ¿“…’‡ß‘π‰¥â 4.20, 25 Income tax expenses °”‰√ ÿ∑∏‘ Net income

°“√·∫àߪí𰔉√ Profit attribution à«π∑’ˇªìπ¢ÕߺŸâ∂◊ÕÀÿâπ∫√‘…—∑„À≠à Shareholdersû equity of the parent company  à«π∑’ˇªìπ¢ÕߺŸâ∂◊ÕÀÿâπ à«ππâÕ¬ Minority interest

°”‰√µàÕÀÿâπ BASIC EARNINGS PER SHARE °”‰√ ÿ∑∏‘ -  à«π¢ÕߺŸâ∂◊ÕÀÿâπ∫√‘…—∑„À≠à Net income - Shareholdersû equity of the parent company

4.21, 27

À¡“¬‡Àµÿª√–°Õ∫ß∫°“√‡ß‘π‡ªìπ à«πÀπ÷ËߢÕßß∫°“√‡ß‘ππ’È / Notes to financial statements form an integral part of these statements. Annual Report 2009 M.K. Real Estate Development Plc.

41


ß∫· ¥ß°“√‡ª≈’ˬπ·ª≈ß à«π¢ÕߺŸâ∂◊ÕÀÿâπ  ”À√—∫ªï ‘Èπ ÿ¥«—π∑’Ë 31 ∏—𫓧¡ 2552 ·≈– 2551 ∫√‘…—∑ ¡—Ëπ§ß‡§À–°“√ ®”°—¥ (¡À“™π) ·≈–∫√‘…—∑¬àÕ¬ / M.K. Real Estate Development Public Company Limited and Subsidiaries

ß∫°“√‡ß‘π√«¡ CONSOLIDATED

¬Õ¥¬°¡“ ≥ «—π∑’Ë 1 ¡°√“§¡ 2551 °àÕπª√—∫ª√ÿß Balance, as at January 1, 2008 before restated º≈ – ¡®“°°“√‡ª≈’ˬπ·ª≈ßπ‚¬∫“¬∫—≠™’ „π∑’Ë¥‘π Õ“§“√·≈–Õÿª°√≥宓°«‘∏’√“§“∑’˵’„À¡à ‡ªìπ«‘∏’√“§“∑ÿπ‡¥‘¡ Cumulative effect of accounting change ¬Õ¥§ß‡À≈◊ÕÀ≈—ߪ√—∫ª√ÿß Balance as restated °”‰√ ÿ∑∏‘ ”À√—∫ªï 2551 Net profit for the year 2008 √«¡√“¬‰¥â (§à“„™â®à“¬) ∑—Èß ‘Èπ∑’Ë√—∫√Ÿâ ”À√—∫ªï Total recognised income and expense ‡ß‘πªíπº≈®à“¬ Dividend ¬Õ¥§ß‡À≈◊Õ ≥ «—π∑’Ë 31 ∏—𫓧¡ 2551 Balance, as at December 31, 2008 °”‰√ ÿ∑∏‘ ”À√—∫ªï 2552 Net profit for the year 2009 √«¡√“¬‰¥â (§à“„™â®à“¬) ∑—Èß ‘Èπ∑’Ë√—∫√Ÿâ ”À√—∫ªï Total recognised income and expense Àÿâπ∑ÿπ´◊ÈÕ§◊π Treasury shares  ”√ÕßÀÿâπ∑ÿπ´◊ÈÕ§◊π Treasury shares reserve ‡ß‘πªíπº≈®à“¬ Dividend ‡ß‘πªíπº≈®à“¬®“°∫√‘…—∑¬àÕ¬ Dividends paid from subsidiary ¬Õ¥§ß‡À≈◊Õ ≥ «—π∑’Ë 31 ∏—𫓧¡ 2552 Balance, as at December 31, 2009

À¡“¬‡Àµÿ Note

∑ÿπ‡√◊ÕπÀÿâπ∑’ËÕÕ° ·≈–™”√–·≈â« Share capital issued and paid-up

à«π‡°‘π ¡Ÿ≈§à“Àÿâπ Premium on ordinary share

à«π¢ÕߺŸâ∂◊ÕÀÿâπ∫√‘…—∑„À≠à /  à«π‡°‘π∑ÿπ®“°°“√ º≈µà“ß®“°°“√ µ’√“§“ ‘π∑√—æ¬å ·ª≈ߧà“ß∫°“√‡ß‘π Revaluation Currency surplus conversion

866,684,157

1,020,836,033

672,966,017

65,550

-

-

(672,966,017)

-

866,684,157

1,020,836,033

-

65,550

-

-

-

-

-

-

-

-

-

-

-

-

866,684,157

1,020,836,033

-

65,550

-

-

-

-

-

-

-

-

4.19, 23

-

-

-

-

4.19, 22.2, 23

-

-

-

-

24

-

-

-

-

-

-

-

-

866,684,157

1,020,836,033

-

65,550

24

À¡“¬‡Àµÿª√–°Õ∫ß∫°“√‡ß‘π‡ªìπ à«πÀπ÷ËߢÕßß∫°“√‡ß‘ππ’È / Notes to financial statements form an integral part of these statements. √“¬ß“πª√–®”ªï 2552 ∫√‘…—∑ ¡—Ëπ§ß‡§À–°“√ ®”°—¥ (¡À“™π)

42


STATEMENTS OF CHANGES IN SHAREHOLDERSû EQUITY For the Years ended December 31, 2009 and 2008

∫“∑ / Baht Shareholderûs equity of parent company °”‰√ – ¡ / Retained earnings ®—¥ √√·≈â« / Appropriated ¬—߉¡à‰¥â®—¥ √√ Retained earnings  ”√Õßµ“¡°ÆÀ¡“¬  ”√ÕßÀÿâπ∑ÿπ´◊ÈÕ§◊π Legal reserve Treasury shares reserve

Àÿâπ∑ÿπ´◊ÈÕ§◊π Treasury shares

à«π¢ÕߺŸâ∂◊ÕÀÿâπ  à«ππâÕ¬ Minority interest

√«¡ Total

√«¡ Total

86,761,685

-

2,048,107,628

-

4,695,421,070

512,013

4,695,933,083

-

-

-

-

(672,966,017)

-

(672,966,017)

86,761,685

-

2,048,107,628

-

4,022,455,053

512,013

4,022,967,066

-

-

404,262,989

-

404,262,989

1,502,493

405,765,482

-

-

404,262,989

-

404,262,989

1,502,493

405,765,482

-

-

(121,327,144)

-

(121,327,144)

-

(121,327,144)

86,761,685

-

2,331,043,473

-

4,305,390,898

2,014,506

4,307,405,404

-

-

539,774,082

-

539,774,082

687,355

540,461,437

-

-

539,774,082

-

539,774,082

687,355

540,461,437

-

-

-

(11,548,084)

(11,548,084)

-

(11,548,084)

-

11,548,084

(11,548,084)

-

-

-

-

-

-

(215,930,614)

-

(215,930,614)

-

(215,930,614)

-

-

-

-

-

(315,000)

(315,000)

86,761,685

11,548,084

2,643,338,857

(11,548,084)

4,617,686,282

2,386,861

4,620,073,143

Annual Report 2009 M.K. Real Estate Development Plc.

43


ß∫· ¥ß°“√‡ª≈’ˬπ·ª≈ß à«π¢ÕߺŸâ∂◊ÕÀÿâπ

(µàÕ)

”À√—∫ªï ‘Èπ ÿ¥«—π∑’Ë 31 ∏—𫓧¡ 2552 ·≈– 2551 ∫√‘…—∑ ¡—Ëπ§ß‡§À–°“√ ®”°—¥ (¡À“™π) ·≈–∫√‘…—∑¬àÕ¬ / M.K. Real Estate Development Public Company Limited and Subsidiaries

ß∫°“√‡ß‘π‡©æ“–∫√‘…—∑ THE COMPANY ONLY ¬Õ¥¬°¡“ ≥ «—π∑’Ë 1 ¡°√“§¡ 2551 °àÕπª√—∫ª√ÿß Balance, as at January 1, 2008 before restated º≈ – ¡®“°°“√‡ª≈’ˬπ·ª≈ßπ‚¬∫“¬∫—≠™’ „π∑’Ë¥‘π Õ“§“√·≈–Õÿª°√≥宓°«‘∏’√“§“∑’˵’„À¡à ‡ªìπ«‘∏’√“§“∑ÿπ‡¥‘¡ Cumulative effect of accounting change ¬Õ¥§ß‡À≈◊ÕÀ≈—ߪ√—∫ª√ÿß Balance as restated °”‰√ ÿ∑∏‘ ”À√—∫ªï 2551 Net profit for the year 2008 √«¡√“¬‰¥â (§à“„™â®à“¬) ∑—Èß ‘Èπ∑’Ë√—∫√Ÿâ ”À√—∫ªï Total recognised income and expense ‡ß‘πªíπº≈®à“¬ Dividend ¬Õ¥§ß‡À≈◊Õ ≥ «—π∑’Ë 31 ∏—𫓧¡ 2551 Balance, as at December 31, 2008 °”‰√ ÿ∑∏‘ ”À√—∫ªï 2552 Net profit for the year 2009 √«¡√“¬‰¥â (§à“„™â®à“¬) ∑—Èß ‘Èπ∑’Ë√—∫√Ÿâ ”À√—∫ªï Total recognised income and expense Àÿâπ∑ÿπ´◊ÈÕ§◊π Treasury shares  ”√ÕßÀÿâπ∑ÿπ´◊ÈÕ§◊π Treasury shares reserve ‡ß‘πªíπº≈®à“¬ Dividend ¬Õ¥§ß‡À≈◊Õ ≥ «—π∑’Ë 31 ∏—𫓧¡ 2552 Balance, as at December 31, 2009

À¡“¬‡Àµÿ Note

∑ÿπ‡√◊ÕπÀÿâπ∑’ËÕÕ° ·≈–™”√–·≈â« Share capital issued and paid-up

à«π‡°‘π ¡Ÿ≈§à“Àÿâπ Premium on ordinary share

866,684,157

1,020,836,033

672,966,017

-

-

(672,966,017)

866,684,157

1,020,836,033

-

-

-

-

-

-

-

-

-

-

866,684,157

1,020,836,033

-

-

-

-

-

-

-

4.19, 23

-

-

-

4.19, 22.2, 23

-

-

-

24

-

-

-

866,684,157

1,020,836,033

-

24

À¡“¬‡Àµÿª√–°Õ∫ß∫°“√‡ß‘π‡ªìπ à«πÀπ÷ËߢÕßß∫°“√‡ß‘ππ’È / Notes to financial statements form an integral part of these statements. √“¬ß“πª√–®”ªï 2552 ∫√‘…—∑ ¡—Ëπ§ß‡§À–°“√ ®”°—¥ (¡À“™π)

44

à«π‡°‘π∑ÿπ®“°°“√ µ’√“§“ ‘π∑√—æ¬å Revaluation surplus


STATEMENTS OF CHANGES IN SHAREHOLDERSû EQUITY (Cont.) For the Years ended December 31, 2009 and 2008

∫“∑ / Baht º≈µà“ß®“°°“√ ·ª≈ߧà“ß∫°“√‡ß‘π Currency conversion

°”‰√ – ¡ / Retained earnings ®—¥ √√·≈â« / Appropriated ¬—߉¡à‰¥â®—¥ √√ Retained earnings  ”√Õßµ“¡°ÆÀ¡“¬  ”√ÕßÀÿâπ∑ÿπ´◊ÈÕ§◊π Legal reserve Treasury shares reserve

Àÿâπ∑ÿπ´◊ÈÕ§◊π Treasury shares

√«¡ Total

65,550

86,761,685

-

2,072,846,098

-

4,720,159,540

-

-

-

-

-

(672,966,017)

65,550

86,761,685

-

2,072,846,098

-

4,047,193,523

-

-

-

393,535,543

-

393,535,543

-

-

-

393,535,543

-

393,535,543

-

-

-

(121,327,144)

-

(121,327,144)

65,550

86,761,685

-

2,345,054,497

-

4,319,401,922

-

-

-

543,994,994

-

543,994,994

-

-

-

543,994,994

-

543,994,994

-

-

-

-

(11,548,084)

(11,548,084)

-

-

11,548,084

(11,548,084)

-

-

-

-

-

(215,930,614)

-

(215,930,614)

65,550

86,761,685

11,548,084

2,661,570,793

(11,548,084)

4,635,918,218

Annual Report 2009 M.K. Real Estate Development Plc.

45


ß∫°√–· ‡ß‘π ¥  ”À√—∫ªï ‘Èπ ÿ¥«—π∑’Ë 31 ∏—𫓧¡ 2552 ·≈– 2551 STATEMENTS OF CASH FLOWS For the Years ended December 31, 2009 and 2008 ∫√‘…—∑ ¡—Ëπ§ß‡§À–°“√ ®”°—¥ (¡À“™π) ·≈–∫√‘…—∑¬àÕ¬ / M.K. Real Estate Development Public Company Limited and Subsidiaries ∫“∑ / Baht ß∫°“√‡ß‘π√«¡ ß∫°“√‡ß‘π‡©æ“–∫√‘…—∑ Consolidated Financial Statements

The Companyûs Financial Statements Only

2552/2009

2551/2008

2552/2009

2551/2008

540,461,437

405,765,482

543,994,994

393,535,543

26,133,856

27,178,840

26,132,610

27,177,036

(286,621)

(63,108)

(286,621)

(63,108)

-

14,178,683

-

14,178,683

-

(700,000)

-

(700,000)

(692,000)

-

(692,000)

-

(1,073,944)

(1,060,828)

(1,073,944)

(1,060,828)

-

10,181

-

10,181

-

-

-

(25,940,000)

4,390,471

(3,382,695)

-

-

(204,996)

(194,886)

(199,351)

(187,948)

(10,160,918)

(2,730,906)

(10,095,150)

(2,683,928)

11,981,985

20,362,997

11,098,038

18,861,593

212,550,321

155,374,706

206,018,172

141,918,122

783,099,591

614,738,466

774,896,748

565,045,346

(13,111,472)

41,069,662

(14,875,293)

31,368,168

-

-

34,113,515

(44,725,215)

565,906,244

270,111,402

543,911,399

301,378,473

(278,665,976)

26,582,537

(275,934,894)

26,582,537

(4,900,000)

(150,000)

(4,900,000)

(150,000)

(863,728)

(1,351,764)

(975,104)

(1,421,304)

(272,490)

147,261

(272,490)

(110,605)

(32,860,520)

(27,420,561)

(29,997,989)

(25,652,646)

(9,344,047)

(80,000,000)

(9,344,047)

(80,000,000)

(13,127,492)

38,772,289

(11,463,100)

43,464,215

995,860,110

882,499,292

1,005,158,745

815,778,969

(202,592,345)

(147,159,139)

(194,261,503)

(133,448,232)

793,267,765

735,340,153

810,897,242

682,330,737

°√–· ‡ß‘π ¥®“°°‘®°√√¡¥”‡π‘πß“π CASH FLOWS FROM OPERATING ACTIVITIES : °”‰√ ÿ∑∏‘ Net income ∫«° (À—°) √“¬°“√ª√—∫ª√ÿß°√–∑∫°”‰√ ÿ∑∏‘‡ªìπ‡ß‘π ¥√—∫ (®à“¬) Add (less) adjustment to reconciliations of net (profit) loss to net cash flows ®“°°‘®°√√¡¥”‡π‘πß“π provided by (used in) operating activities : §à“‡ ◊ËÕ¡√“§“·≈–√“¬®à“¬µ—¥∫—≠™’ Depreciation and amortization (°”‰√) ¢“¥∑ÿπ®“°°“√¢“¬ ‘π∑√—æ¬å Loss (gain) from sale of fixed assets ¢“¥∑ÿπ®“°°“√≈¥≈ß„π¡Ÿ≈§à“¢Õß∑’Ë¥‘π√Õ°“√æ—≤π“ Loss on devaluation of land for development Àπ’È Ÿ≠‰¥â√—∫§◊π®“°°“√√—∫™”√–Àπ’ȇªìπÀÿâπ Bad debt recovered from payment in the form of shares °”‰√®“°°“√µ—¥®”Àπà“¬Àÿâπ°Ÿâ Profit from write-off of Debenture √“¬‰¥â§à“‡™à“µ—¥∫—≠™’ Realization of deferred rental income ¢“¥∑ÿπ®“°°“√¥âÕ¬§à“‡ß‘π≈ß∑ÿπ„π∫√‘…—∑√à«¡ Impairment loss on investments in associated company §à“‡º◊ËÕ®“°°“√¥âÕ¬§à“‡ß‘π≈ß∑ÿπ„π∫√‘…—∑¬àÕ¬ (‚Õπ°≈—∫) Impairment loss on investments in subsidiaries (reversal)  à«π·∫àߺ≈¢“¥∑ÿπ (°”‰√) „π∫√‘…—∑√à«¡ Share of losses (profits) from investment of associated companies √“¬‰¥â¥Õ°‡∫’Ȭ√—∫ Interest income ‡ß‘πªíπº≈√—∫ Dividend income §à“„™â®à“¬¥Õ°‡∫’Ȭ®à“¬ Interest expenses ¿“…’‡ß‘π‰¥â𑵑∫ÿ§§≈ Income tax expenses °”‰√®“°°“√¥”‡π‘πß“π°àÕπ°“√‡ª≈’ˬπ·ª≈ß„π ‘π∑√—æ¬å·≈–Àπ’È ‘𥔇π‘πß“π Net income from operating activities before changes in operating assets and liabilities  ‘π∑√—æ¬å¥”‡π‘πß“π≈¥≈ß (‡æ‘Ë¡¢÷Èπ) Decrease (increase) in operating assets ≈Ÿ°Àπ’È°“√§â“·≈–∑’ˬ—߉¡à‰¥â‡√’¬°‡°Á∫ Accounts and unbilled receivables - trade - Other company ≈Ÿ°Àπ’È∫√‘…—∑∑’ˇ°’ˬ«¢âÕß°—π Accounts and unbilled receivables - trade - Related company  ‘π§â“§ß‡À≈◊Õ Inventories ∑’Ë¥‘π√Õ°“√æ—≤π“·≈–‡æ◊ËÕ¢“¬ Land for development and for sales ‡ß‘π¡—¥®”§à“´◊ÈÕ∑’Ë¥‘π Deposits for purchase land  ‘π∑√—æ¬åÀ¡ÿπ‡«’¬πÕ◊Ëπ Other current assets  ‘π∑√—æ¬å‰¡àÀ¡ÿπ‡«’¬πÕ◊Ëπ Other non-current assets Àπ’È ‘𥔇π‘πß“π‡æ‘Ë¡¢÷Èπ (≈¥≈ß) Increase (decrease) in operating liabilities ‡®â“Àπ’È·≈–µ—Ϋ‡ß‘π®à“¬°“√§â“ Trade accounts and notes payable ‡®â“Àπ’ȧà“∑’Ë¥‘π Payable for purchase of land Àπ’È ‘πÀ¡ÿπ‡«’¬πÕ◊Ëπ Other current liabilities ‡ß‘π ¥√—∫ (®à“¬) ®“°°“√¥”‡π‘πß“π Cash received (paid) from operating ®à“¬¿“…’‡ß‘π‰¥â𑵑∫ÿ§§≈ Payment of income tax ‡ß‘π ¥ ÿ∑∏‘‰¥â¡“®“° („™â‰ª„π) °‘®°√√¡¥”‡π‘πß“π Net cash provided by (used in) operating activities

À¡“¬‡Àµÿª√–°Õ∫ß∫°“√‡ß‘π‡ªìπ à«πÀπ÷ËߢÕßß∫°“√‡ß‘ππ’È / Notes to financial statements form an integral part of these statements. √“¬ß“πª√–®”ªï 2552 ∫√‘…—∑ ¡—Ëπ§ß‡§À–°“√ ®”°—¥ (¡À“™π)

46


ß∫°√–· ‡ß‘π ¥ (µàÕ)  ”À√—∫ªï ‘Èπ ÿ¥«—π∑’Ë 31 ∏—𫓧¡ 2552 ·≈– 2551 STATEMENTS OF CASH FLOWS (Cont.) For the Years ended December 31, 2009 and 2008 ∫√‘…—∑ ¡—Ëπ§ß‡§À–°“√ ®”°—¥ (¡À“™π) ·≈–∫√‘…—∑¬àÕ¬ / M.K. Real Estate Development Public Company Limited and Subsidiaries ∫“∑ / Baht ß∫°“√‡ß‘π√«¡ ß∫°“√‡ß‘π‡©æ“–∫√‘…—∑ Consolidated Financial Statements

2552/2009

The Companyûs Financial Statements Only

2551/2008

2552/2009

2551/2008

°√–· ‡ß‘π ¥®“°°‘®°√√¡≈ß∑ÿπ CASH FLOWS FROM INVESTING ACTIVITIES :  ‘π∑√—æ¬å∂“«√·≈– ‘π∑√—æ¬å‰¡à¡’µ—«µπ‡æ‘Ë¡¢÷Èπ Increase in property and equipment ‡ß‘πΩ“°µ‘¥¿“√–§È”ª√–°—π (‡æ‘Ë¡¢÷Èπ) ≈¥≈ß Decrease (increase) in bank deposit pledged as collateral ‡ß‘π ¥√—∫®“°°“√¢“¬∑√—æ¬å ‘π∂“«√ Proceeds from sale of fixed assets ‡ß‘π ¥√—∫®“°¥Õ°‡∫’Ȭ√—∫ Cash received from interest income ‡ß‘π ¥√—∫®“°‡ß‘πªíπº≈√—∫ Cash received from dividend income ‡ß‘π ¥ ÿ∑∏‘‰¥â¡“®“° („™â‰ª„π) °‘®°√√¡≈ß∑ÿπ Net cash provided by (used in) investing activities °√–· ‡ß‘π ¥®“°°‘®°√√¡®—¥À“‡ß‘π CASH FLOWS FROM FINANCING ACTIVITIES : ‡ß‘π‡∫‘°‡°‘π∫—≠™’·≈–‡ß‘π°Ÿâ¬◊¡√–¬– —Èπ®“° ∂“∫—π°“√‡ß‘π‡æ‘Ë¡¢÷Èπ (≈¥≈ß) Increase (decrease) in bank overdrafts and short-term loans from financial institutions ‡ß‘π ¥√—∫®“°≈Ÿ°Àπ’È·≈–‡ß‘π∑¥√Õß·°à°‘®°“√∑’ˇ°’ˬ«¢âÕß°—π Cash received from advance to related parties ‡ß‘π ¥®à“¬®“°≈Ÿ°Àπ’È·≈–‡ß‘π∑¥√Õß·°à°‘®°“√∑’ˇ°’ˬ«¢âÕß°—π Cash payment for advance to related parties ‡ß‘π ¥√—∫®“°‡ß‘π°Ÿâ¬◊¡°√√¡°“√ Cash received from advance from director ‡ß‘π ¥®à“¬®“°‡ß‘π°Ÿâ¬◊¡°√√¡°“√ Cash payment for advance from director ‡ß‘π ¥√—∫®“°‡ß‘π∑¥√Õß®“°°‘®°“√∑’ˇ°’ˬ«¢âÕß°—π Cash received from advance from related parties ‡ß‘π ¥®à“¬®“°‡ß‘π∑¥√Õß®“°°‘®°“√∑’ˇ°’ˬ«¢âÕß°—π Cash payment for advance from related parties ‡ß‘π ¥√—∫®“°‡ß‘π°Ÿâ¬◊¡√–¬–¬“« Cash received from long - term debts ‡ß‘π ¥®à“¬®“°‡ß‘π°Ÿâ¬◊¡√–¬–¬“« Cash payment for long - term debts ‡ß‘π ¥®à“¬®“°‡ß‘π°Ÿâ√–¬– —Èπ®“°∫ÿ§§≈¿“¬πÕ° Cash payment for short-term loan from other parties ‡®â“Àπ’ȇ™à“´◊ÈÕ‡æ‘Ë¡¢÷Èπ (≈¥≈ß) Increase (decrease) in hire-purchase contract payable ‡ß‘π ¥®à“¬®“°¥Õ°‡∫’Ȭ Cash payment for interest expenses ‡ß‘π ¥®à“¬®“°‡ß‘πªíπº≈ Cash payment for dividend ‡ß‘π ¥®à“¬Àÿâπ∑ÿπ´◊ÈÕ§◊π Cash payment for treasury shares ‡ß‘π ¥ ÿ∑∏‘‰¥â¡“®“° („™â‰ª„π) °‘®°√√¡®—¥À“‡ß‘π Net cash provided by (used in) financing activities ‡ß‘π ¥·≈–√“¬°“√‡∑’¬∫‡∑à“‡ß‘π ¥‡æ‘Ë¡¢÷Èπ (≈¥≈ß),  ÿ∑∏‘ Net increase (decrease) in cash and cash equivalents, net ‡ß‘π ¥·≈–√“¬°“√‡∑’¬∫‡∑à“‡ß‘π ¥ ≥ «—πµâπªï Cash and cash equivalents at beginning of year ‡ß‘π ¥·≈–√“¬°“√‡∑’¬∫‡∑à“‡ß‘π ¥ ≥ «—π ‘Èπªï Cash and cash equivalents at end of year ¢âÕ¡Ÿ≈ß∫°√–· ‡ß‘𠥇ªî¥‡º¬‡æ‘Ë¡‡µ‘¡ Supplemental Disclosures of Cash Flows Information : 1. ‡ß‘π ¥·≈–√“¬°“√‡∑’¬∫‡∑à“‡ß‘π ¥ ª√–°Õ∫¥â«¬ Cash and cash equivalents consist of: ‡ß‘𠥄π¡◊Õ·≈–‡ß‘πΩ“°∏𓧓√ Cash on hand and at banks ‡ß‘π≈ß∑ÿπ™—Ë«§√“«-‡ß‘πΩ“°ª√–®” Short-term investment in - Fixed deposits ‡ß‘π≈ß∑ÿπ™—Ë«§√“«-°Õß∑ÿπ‡ªî¥µ√“ “√Àπ’È∑’Ë¡’ ¿“æ§≈àÕß Ÿß Short-term investment in - High Liquidity Fixed - income fund √«¡ Total 2. √“¬°“√∑’Ë¡‘„™à‡ß‘π ¥ / Non-cash items 2.1 „πªï 2552 ∫√‘…—∑¡’°“√´◊ÈÕ∑’Ë¥‘π‚¥¬°“√ÕÕ°µ—Ϋ —≠≠“„™â‡ß‘π In 2009, the Company has perchased Land by issuing a promissory note Land for sales 2.2 „πªï 2551 ∫√‘…—∑¡’°“√´◊ÈÕ∑√—æ¬å ‘π‚¥¬®—¥∑”‡ªìπ —≠≠“‡™à“´◊ÈÕ In 2008, the Company acquired fixed assets by mean of financial Lease agreements. Liabilities under financial lease agreement

(8,779,649)

(3,962,929)

(8,779,649)

(3,962,929)

(8,405,565)

(35,963,656)

(8,401,797)

(35,963,656)

448,004

63,110

448,004

63,110

204,996

194,886

199,351

187,948

10,160,918

2,730,906

10,095,150

2,683,928

(6,371,296)

(36,937,683)

(6,438,941)

(36,991,599)

(46,437,890)

(141,948,807)

(46,183,186)

(142,203,511)

-

-

50,089,686

99,275,159

-

-

(40,492,391)

(104,856,358)

23,646,200

40,765,898

23,646,200

39,055,048

(32,925,055)

(21,625,115)

(32,925,055)

(19,836,996)

20,000,000

-

20,000,000

-

(23,200,000)

(5,000,000)

(23,200,000)

(5,000,000)

649,626,945

866,551,734

619,980,945

843,552,734

(1,075,507,023)

(1,255,551,143)

(1,075,507,023)

(1,175,525,743)

(4,000,000)

-

(4,000,000)

-

(683,619)

(836,082)

(683,619)

(836,082)

(54,787,262)

(99,085,231)

(52,887,514)

(96,924,708)

(216,245,614)

(121,327,144)

(215,930,614)

(121,327,144)

(11,548,084)

-

(11,548,084)

-

(772,061,402)

(738,055,890)

(789,640,655)

(684,627,601)

14,835,067

(39,653,420)

14,817,646

(39,288,463)

12,093,849

51,747,269

11,909,181

51,197,644

26,928,916

12,093,849

26,726,827

11,909,181

26,675,580

11,872,396

26,520,976

11,733,907

186,127

221,453

138,642

175,274

67,209

-

67,209

-

26,928,916

12,093,849

26,726,827

11,909,181

70,655,953

-

70,655,953

-

-

993,384

-

993,384

À¡“¬‡Àµÿª√–°Õ∫ß∫°“√‡ß‘π‡ªìπ à«πÀπ÷ËߢÕßß∫°“√‡ß‘ππ’È / Notes to financial statements form an integral part of these statements. Annual Report 2009 M.K. Real Estate Development Plc.

47


À¡“¬‡Àµÿª√–°Õ∫ß∫°“√‡ß‘π ≥ «—π∑’Ë 31 ∏—𫓧¡ 2552 ·≈– 2551 ∫√‘…—∑ ¡—Ëπ§ß‡§À–°“√ ®”°—¥ (¡À“™π) ·≈–∫√‘…—∑¬àÕ¬ 1. ¢âÕ¡Ÿ≈∑—«Ë ‰ª (°) ¿Ÿ¡‘≈”‡π“·≈– ∂“π–∑“ß°ÆÀ¡“¬¢Õß∫√‘…—∑ ∫√‘…—∑‰¥â®¥∑–‡∫’¬π·ª√ ¿“懪ìπ∫√‘…—∑¡À“™π®”°—¥ µ“¡æ√–√“™∫—≠≠—µ‘∫√‘…—∑¡À“™π®”°—¥ æ.».2535 °—∫°√–∑√«ßæ“≥‘™¬å‡¡◊ËÕ«—π∑’Ë 15 ∏—𫓧¡ 2536 ‚¥¬¡’∑’˵—Èß ”π—°ß“π„À≠à ≥ ‡≈¢∑’Ë 719 Õ“§“√¡—Ëπ§ß‡§À–°“√ ∂ππ∫√√∑—¥∑Õß ·¢«ß«—ß„À¡à ‡¢µª∑ÿ¡«—π °√ÿ߇∑æ¡À“π§√ 10330 (¢) ≈—°…≥–°“√¥”‡π‘πß“π·≈–°‘®°√√¡À≈—° ∫√‘…—∑¥”‡π‘π∏ÿ√°‘®æ—≤π“Õ —ßÀ“√‘¡∑√—æ¬å‡æ◊ËÕ°“√§â“ ‰¥â·°à ®—¥ √√∑’Ë¥‘π‡ª≈à“  √â“ß∫â“𠔇√Á®√Ÿª¢“¬æ√âÕ¡∑’Ë¥‘π ·≈–√—∫‡À¡“°àÕ √â“ß∫â“π‚§√ß°“√¢Õß∫√‘…—∑ µπ‡Õß ·≈– √â“ߧÕπ‚¥¡‘‡π’¬¡ µ≈Õ¥®π„À⇙à“Õ“§“√ ·≈–∑’ˮե√∂ ·≈–∏ÿ√°‘® π“¡°Õ≈åø ‡ªìπµâπ (§) ‡°’ˬ«°—∫æπ—°ß“π ≥ «—π∑’Ë 31 ∏—𫓧¡ 2552 ·≈– 2551 ∫√‘…∑— ·≈–∫√‘…∑— ¬àÕ¬¡’®”π«πæπ—°ß“π√«¡ 250 §π ·≈– 253 §π µ“¡≈”¥—∫ (‡©æ“–∫√‘…∑— ¡’ 248 §π·≈– 251 §π µ“¡≈”¥—∫) (ß) §à“„™â®à“¬µ“¡≈—°…≥– √“¬°“√§à“„™â®à“¬·∫àßµ“¡≈—°…≥–ª√–°Õ∫¥â«¬√“¬°“√§à“„™â®à“¬∑’Ë ”§—≠¥—ßµàÕ‰ªπ’È ∫“∑ ß∫°“√‡ß‘π√«¡ ß∫°“√‡ß‘π‡©æ“–∫√‘…—∑  ”À√—∫ªï ‘Èπ ÿ¥ «—π∑’Ë 31 ∏—𫓧¡  ”À√—∫ªï ‘Èπ ÿ¥ «—π∑’Ë 31 ∏—𫓧¡ 2552 2551 2552 2551 §à“´◊ÈÕ∑’Ë¥‘π‡æ◊ËÕ¢“¬·≈–∑’Ë¥‘π√Õ°“√æ—≤π“ 390,516,058 41,209,162 387,412,068 33,130,606 §à“ß“πæ—≤π“ “∏“√≥Ÿª‚¿§·≈–§à“ß“π°àÕ √â“ß 798,163,993 966,159,659 789,329,159 916,482,714 ¥Õ°‡∫’Ȭ®à“¬§‘¥‡¢â“µâπ∑ÿπ‚§√ß°“√ 41,931,739 78,920,236 40,907,652 78,261,117 °“√‡ª≈’ˬπ·ª≈ß„π∑’Ë¥‘π‡æ◊ËÕ¢“¬ ∑’Ë¥‘π√Õ°“√æ—≤π“ §à“ß“πæ—≤π“ “∏“√≥Ÿª‚¿§·≈–ß“π°àÕ √â“ß 199,927,204 184,694,078 182,065,388 218,143,264 §à“µÕ∫·∑πºŸâ∫√‘À“√ 37,076,187 31,570,932 36,341,187 30,987,332 §à“„™â®à“¬‡°’ˬ«°—∫æπ—°ß“π 76,045,463 75,659,586 74,807,720 74,492,711 §à“‡ ◊ËÕ¡√“§“·≈–§à“µ—¥®”Àπà“¬ 26,133,856 27,178,840 26,132,610 27,177,036 §à“‚¶…≥“·≈– à߇ √‘¡°“√¢“¬ 59,113,786 62,618,528 58,952,834 62,377,822 §à“√—°…“§«“¡ª≈Õ¥¿—¬·≈–§à“∑”§«“¡ –Õ“¥ 23,376,251 19,441,735 23,376,251 19,441,735 §à“„™â®à“¬‡°’ˬ«°—∫æπ—°ß“π §à“„™â®à“¬‡°’ˬ«°—∫æπ—°ß“π ‰¥â·°à ‡ß‘π‡¥◊Õπ ‚∫π—  §à“ª√–°—π —ߧ¡·≈– «— ¥‘°“√µà“ßÊ §à“µÕ∫·∑πºŸâ∫√‘À“√ §à“µÕ∫·∑πºŸ∫â √‘À“√π’‡È ªìπº≈ª√–‚¬™πå∑®Ë’ “à ¬„Àâ·°àº∫⟠√‘À“√·≈–°√√¡°“√¢Õß∫√‘…∑— ª√–°Õ∫¥â«¬§à“µÕ∫·∑π∑’‡Ë ªìπµ—«‡ß‘π‰¥â·°à ‡ß‘π‡¥◊Õπ º≈ª√–‚¬™πå∑‡Ë’ °’¬Ë «¢âÕß ·≈–§à“µÕ∫·∑π°√√¡°“√ √«¡‰ª∂÷ߺ≈ª√–‚¬™πåµÕ∫·∑π„π√ŸªÕ◊Ëπ ∑—Èßπ’ȺŸâ∫√‘À“√¢Õß∫√‘…—∑À¡“¬∂÷ß∫ÿ§§≈∑’Ë°”À𥵓¡°ÆÀ¡“¬«à“¥â«¬À≈—°∑√—æ¬å·≈– µ≈“¥À≈—°∑√—æ¬å 2. ¡Ÿ≈∞“π ”À√—∫ß∫°“√‡ß‘π ß∫°“√‡ß‘π√«¡·≈–ß∫°“√‡ß‘ππ’‰È ¥â®¥— ∑”¢÷πÈ µ“¡¢âÕ ¡¡µ‘∞“π∑“ß∫—≠™’∑«Ë’ “à °‘®°“√®–¥”‡π‘πß“πµàÕ‡π◊ÕË ß‚¥¬∂◊Õ«à“°“√¢“¬ ‘π∑√—æ¬å·≈–°“√™”√–Àπ’ È π‘ ®–‡ªìπ‰ªµ“¡ ª°µ‘∏ÿ√°‘® 3. À≈—°‡°≥±å„π°“√®—¥∑”ß∫°“√‡ß‘π√«¡·≈–°“√¥”‡π‘πß“π 3.1 ß∫°“√‡ß‘π√«¡π’ȉ¥â√«¡∫—≠™’µà“ßÊ ¢Õß∫√‘…—∑ ¡—Ëπ§ß‡§À–°“√ ®”°—¥ (¡À“™π) ·≈–∫√‘…—∑¬àÕ¬ ¥—ßµàÕ‰ªπ’È  —¥ à«π°“√∂◊ÕÀÿâπ (√âÕ¬≈–) ≥ «—π∑’Ë 31 ≥ «—π∑’Ë 31 ∏—𫓧¡ 2552 ∏—𫓧¡ 2551 95.50 95.50

∫√‘…—∑ ·¡π§Õπ ®”°—¥ ‘π∑√—æ¬å·≈–√“¬‰¥â¢Õß∫√‘…—∑¬àÕ¬´÷Ëß√«¡Õ¬Ÿà„πß∫°“√‡ß‘π√«¡§‘¥‡ªìπ®”π«πª√–¡“≥√âÕ¬≈–¥—ßπ’È :

Õ—µ√“√âÕ¬≈–¢Õ߬ե ‘π∑√—æ¬å¢Õß Õ—µ√“√âÕ¬≈–¢Õ߬ե√“¬‰¥â¢Õß ∫√‘…—∑¬àÕ¬´÷Ëß√«¡Õ¬Ÿà„πß∫¥ÿ≈√«¡ ∫√‘…—∑¬àÕ¬´÷Ëß√«¡Õ¬Ÿà„πß∫°”‰√¢“¥∑ÿπ√«¡ ≥ «—π∑’Ë 31 ∏—𫓧¡  ”À√—∫ªï ‘Èπ ÿ¥ «—π∑’Ë 31 ∏—𫓧¡ 2552 2551 2552 2551 ∫√‘…—∑¬àÕ¬ ∫√‘…—∑ ·¡π§Õπ ®”°—¥

48

√“¬ß“πª√–®”ªï 2552 ∫√‘…—∑ ¡—Ëπ§ß‡§À–°“√ ®”°—¥ (¡À“™π)

1.57

1.84

2.37

5.72


4.

∫√‘…—∑¬àÕ¬‡ªìπ°‘®°“√∑’ËÕ¬Ÿà¿“¬„µâ°“√§«∫§ÿ¡¢Õß∫√‘…—∑ °“√§«∫§ÿ¡‡°‘¥¢÷Èπ‡¡◊ËÕ∫√‘…—∑¡’Õ”π“®§«∫§ÿ¡∑—Èß∑“ßµ√ßÀ√◊Õ∑“ßÕâÕ¡„π°“√°”Àπ¥π‚¬∫“¬∑“ß°“√ ‡ß‘π·≈–°“√¥”‡π‘πß“π¢Õß∫√‘…—∑π—Èπ ‡æ◊ËÕ‰¥â¡“´÷Ëߪ√–‚¬™π宓°°‘®°√√¡¢Õß∫√‘…—∑¬àÕ¬ ß∫°“√‡ß‘π¢Õß∫√‘…—∑¬àÕ¬‰¥â√«¡Õ¬Ÿà„πß∫°“√‡ß‘π√«¡π—∫·µà«—π∑’Ë¡’°“√ §«∫§ÿ¡®π∂÷ß«—π∑’Ë°“√§«∫§ÿ¡ ‘Èπ ÿ¥≈ß 3.2 §à“§«“¡π‘¬¡∑’ˇ°‘¥®“°°“√´◊ÈՇߑπ≈ß∑ÿπ„π∫√‘…—∑¬àÕ¬∑¬Õ¬√—∫√Ÿâ‡ªìπ§à“„™â®à“¬‚¥¬«‘∏’‡ âπµ√ß„π√–¬–‡«≈“À⓪ï·≈–√“¬°“√∫—≠™’∑’Ë¡’ “√– ”§—≠°—∫∫√‘…—∑¬àÕ¬ ∑’Ë√«¡„πß∫°“√‡ß‘π√«¡‰¥âÀ—°≈∫°≈∫°—π·≈â« ·≈–µ—Èß·µà«—π∑’Ë 1 ¡°√“§¡ 2551 ∫√‘…—∑À¬ÿ¥∑¬Õ¬µ—¥√—∫√Ÿâ‡ªìπ§à“„™â®à“¬ ·≈–æ‘®“√≥“¥âÕ¬§à“§«“¡π‘¬¡·∑𠵓¡¡“µ√∞“π°“√√“¬ß“π∑“ß°“√‡ß‘π©∫—∫∑’Ë 3 ‡√◊ËÕß °“√√«¡∏ÿ√°‘® (ª√—∫ª√ÿß 2550) (©∫—∫ 43 ‡¥‘¡) 3.3 √“¬°“√∫—≠™’∑’ˇ°‘¥¢÷Èπ√–À«à“ß°—π°—∫∫√‘…—∑¬àÕ¬∑’Ë¡’ “√– ”§—≠ ‰¥â∂Ÿ°À—°ÕÕ°®“°ß∫°“√‡ß‘π√«¡·≈â« 3.4 ß∫°“√‡ß‘π√«¡®—¥∑”¢÷Èπ ‚¥¬„™âπ‚¬∫“¬°“√∫—≠™’‡¥’¬«°—π ”À√—∫√“¬°“√∑’ˇÀ¡◊Õπ°—πÀ√◊Õ‡Àµÿ°“√≥å∑“ß∫—≠™’∑’˧≈⓬§≈÷ß°—π À≈—°‡°≥±å„π°“√®—¥∑”ß∫°“√‡ß‘π·≈–π‚¬∫“¬°“√∫—≠™’∑’Ë ”§—≠ 4.1 À≈—°‡°≥±å„π°“√®—¥∑”ß∫°“√‡ß‘π 4.1.1 ß∫°“√‡ß‘ππ’È®—¥∑”¢÷Èπµ“¡¡“µ√∞“π°“√∫—≠™’∑’Ë°ÆÀ¡“¬°”À𥵓¡æ√–√“™∫—≠≠—µ‘«‘™“™’æ∫—≠™’ æ.». 2547 ·≈–°“√· ¥ß√“¬°“√‰¥â∑”¢÷Èπµ“¡·∫∫ °”Àπ¥√“¬°“√¬àÕ∑’˵âÕß¡’„πß∫°“√‡ß‘π æ.». 2552  ”À√—∫∫√‘…—∑¡À“™π®”°—¥ ∑’Ë°”À𥂥¬ª√–°“»°√¡æ—≤π“∏ÿ√°‘®°“√§â“ °√–∑√«ßæ“≥‘™¬å æ.». 2552 ÕÕ°µ“¡§«“¡„πæ√–√“™∫—≠≠—µ‘°“√∫—≠™’ æ.». 2543 ß∫°“√‡ß‘π©∫—∫¿“…“‰∑¬‡ªìπß∫°“√‡ß‘π©∫—∫∑’Ë∫√‘…—∑„™â‡ªìπ∑“ß°“√µ“¡°ÆÀ¡“¬ ß∫°“√‡ß‘π©∫—∫¿“…“Õ—ß°ƒ…·ª≈¡“®“°ß∫°“√‡ß‘π©∫—∫¿“…“‰∑¬ ¥—ß°≈à“« ß∫°“√‡ß‘ππ’ȉ¥â®—¥∑”¢÷Èπ‚¥¬„™â‡°≥±å√“§“∑ÿπ‡¥‘¡ ‡«âπ·µà®–‰¥â‡ªî¥‡º¬‡ªìπÕ¬à“ßÕ◊Ëπ„ππ‚¬∫“¬°“√∫—≠™’ 4.1.2 ¡“µ√∞“π°“√∫—≠™’„À¡à∑’˪√–°“»„™â„π√–À«à“ߪï 4.1.2.1  ¿“«‘™“™’æ∫—≠™’‰¥âÕÕ°ª√–°“» ¿“«‘™“™’æ∫—≠™’©∫—∫∑’Ë 12/2552 ‡¡◊ÕË «—π∑’Ë 15 情¿“§¡ 2552 °”Àπ¥„À⮥— ‡≈¢√–∫ÿ©∫—∫¡“µ√∞“π°“√∫—≠™’ ¢Õ߉∑¬„Àâµ√ßµ“¡¡“µ√∞“π°“√∫—≠™’√–À«à“ߪ√–‡∑» 4.1.2.2  ¿“«‘™“™’æ∫—≠™’‰¥âÕÕ°ª√–°“» ¿“«‘™“™’æ∫—≠™’©∫—∫∑’Ë 86/2551 ·≈– 16/2552 „Àℙ⡓µ√∞“π°“√∫—≠™’ ¡“µ√∞“π°“√√“¬ß“π∑“ß°“√‡ß‘π ·≈–·π«ªØ‘∫—µ‘∑“ß°“√∫—≠™’„À¡à ¥—ßµàÕ‰ªπ’È °) ¡“µ√∞“π°“√∫—≠™’ ¡“µ√∞“π°“√√“¬ß“π∑“ß°“√‡ß‘π ·≈–·π«ªØ‘∫—µ‘∑“ß°“√∫—≠™’ ´÷Ëß„Àâ∂◊ժؑ∫—µ‘°—∫ß∫°“√‡ß‘π ”À√—∫√Õ∫√–¬–‡«≈“ ∫—≠™’∑’ˇ√‘Ë¡„πÀ√◊ÕÀ≈—ß«—π∑’Ë 1 ¡°√“§¡ 2552 ‡ªìπµâπ‰ª ·¡à∫∑°“√∫—≠™’ (ª√—∫ª√ÿß 2550) ¡“µ√∞“π°“√∫—≠™’©∫—∫∑’Ë 36 °“√¥âÕ¬§à“¢Õß ‘π∑√—æ¬å (ª√—∫ª√ÿß 2550) ¡“µ√∞“π°“√√“¬ß“π∑“ß°“√‡ß‘π©∫—∫∑’Ë 5  ‘π∑√—æ¬å‰¡àÀ¡ÿπ‡«’¬π∑’Ë∂◊Õ‰«â‡æ◊ËÕ¢“¬·≈–°“√¥”‡π‘πß“π∑’ˬ°‡≈‘° (ª√—∫ª√ÿß 2550) (©∫—∫ 54 ‡¥‘¡) ·π«ªØ‘∫—µ‘∑“ß°“√∫—≠™’ ”À√—∫°“√∫—π∑÷°∫—≠™’ ‘∑∏‘°“√‡™à“ ·π«ªØ‘∫—µ‘∑“ß°“√∫—≠™’ ”À√—∫°“√√«¡∏ÿ√°‘®¿“¬„µâ°“√§«∫§ÿ¡‡¥’¬«°—π ¡“µ√∞“π°“√∫—≠™’ ¡“µ√∞“π°“√√“¬ß“π∑“ß°“√‡ß‘π ·≈–·π«ªØ‘∫—µ‘∑“ß°“√∫—≠™’¢â“ßµâπ ΩÉ“¬∫√‘À“√¢Õß∫√‘…—∑‰¥âª√–‡¡‘π·≈⫇ÀÁπ «à“‰¡à¡’º≈°√–∑∫Õ¬à“߇ªìπ “√– ”§—≠µàÕß∫°“√‡ß‘π ”À√—∫ªïªí®®ÿ∫—π ¢) ¡“µ√∞“π°“√∫—≠™’∑’ˬ—߉¡à¡’º≈∫—ߧ—∫„™â„πªïªí®®ÿ∫—π ¡“µ√∞“π°“√∫—≠™’©∫—∫∑’Ë 20 °“√∫—≠™’ ”À√—∫‡ß‘πÕÿ¥Àπÿπ®“°√—∞∫“≈·≈–°“√‡ªî¥‡º¬¢âÕ¡Ÿ≈‡°’¬Ë «°—∫§«“¡™à«¬‡À≈◊Õ®“°√—∞∫“≈ („™â∫ß— §—∫ «—π∑’Ë 1 ¡°√“§¡ 2555) ¡“µ√∞“π°“√∫—≠™’©∫—∫∑’Ë 24 °“√‡ªî¥‡º¬¢âÕ¡Ÿ≈‡°’ˬ«°—∫∫ÿ§§≈À√◊Õ°‘®°“√∑’ˇ°’ˬ«¢âÕß°—π (ª√—∫ª√ÿß 2550) („™â∫—ߧ—∫«—π∑’Ë 1 ¡°√“§¡ 2554) ¡“µ√∞“π°“√∫—≠™’©∫—∫∑’Ë 40 Õ —ßÀ“√‘¡∑√—æ¬å‡æ◊ËÕ°“√≈ß∑ÿπ („™â∫—ߧ—∫«—π∑’Ë 1 ¡°√“§¡ 2554) ΩÉ“¬∫√‘À“√¢Õß∫√‘…—∑Õ¬Ÿà√–À«à“ß°“√ª√–‡¡‘πº≈°√–∑∫µàÕß∫°“√‡ß‘π ”À√—∫ªï∑’ˇ√‘Ë¡„™â¡“µ√∞“π°“√∫—≠™’¢â“ßµâπ 4.2 °“√√—∫√Ÿâ√“¬‰¥â·≈–§à“„™â®à“¬ 4.2.1 √“¬‰¥â ∫√‘…∑— ·≈–∫√‘…∑— ¬àÕ¬∫—π∑÷°√“¬‰¥â®“°°“√¢“¬∑’¥Ë π‘ µ“¡ —≠≠“ºàÕπ™”√–µ“¡«‘∏®’ ”π«π‡ß‘πß«¥∑’§Ë √∫°”Àπ¥™”√–  à«π°“√¢“¬∫â“πæ√âÕ¡∑’¥Ë π‘ Õ“§“√™ÿ¥ Õ“§“√ ”π—°ß“π™ÿ¥ ·≈–°“√√—∫ª≈Ÿ° √â“ß∫â“π√—∫√Ÿâ√“¬‰¥âµ“¡Õ—µ√“√âÕ¬≈–¢Õßß“π∑’Ë·≈⫇ √Á®‚¥¬«‘»«°√ ∑—Èßπ’ȉ¡à√«¡µâπ∑ÿπ∑’Ë¥‘π ∫√‘…—∑·≈–∫√‘…—∑¬àÕ¬®–‡√‘Ë¡√—∫√Ÿâ√“¬‰¥â ”À√—∫ —≠≠“®–´◊ÈÕ®–¢“¬∑’Ë√—∫‡ß‘π¡—¥®”‰¡àπâÕ¬°«à“√âÕ¬≈– 20 ¢Õß√“§“µ“¡ —≠≠“®–´◊ÈÕ®–¢“¬ ·≈–∫√‘…—∑ ®–À¬ÿ¥√—∫√Ÿâ√“¬‰¥â ”À√—∫ —≠≠“®–´◊ÈÕ®–¢“¬∑’Ë¡’‡ß‘πß«¥§â“ß™”√–‡°‘π 3 ß«¥ √“¬‰¥â∑’Ë√—∫√Ÿâµ“¡«‘∏’Õ—µ√“ à«π¢Õßß“π∑’Ë∑”‡ √Á®∑’Ë¡’¡Ÿ≈§à“ Ÿß°«à“‡ß‘π§à“ß«¥∑’Ë∂÷ß°”Àπ¥™”√–®–∫—π∑÷°‡ªìπ ç≈Ÿ°Àπ’È°“√§â“·≈–∑’ˬ—߉¡à‰¥â‡√’¬°‡°Á∫é ·≈– ·¬°· ¥ßµà“ßÀ“°¿“¬„µâ ç ‘π∑√—æ¬åÀ¡ÿπ‡«’¬πÕ◊Ëπé ‡ß‘π§à“ß«¥ à«π∑’ˇ√’¬°‡°Á∫‡°‘π°«à“√“¬‰¥â∑’Ë√—∫√Ÿâµ“¡«‘∏’Õ—µ√“ à«π¢Õßß“π∑’Ë∑”‡ √Á®®–∫—π∑÷°‡ªìπ ç√“¬‰¥â√—∫≈à«ßÀπâ“®“°≈Ÿ°§â“é ·≈–· ¥ß¿“¬„π çÀπ’È ‘πÀ¡ÿπ‡«’¬πÕ◊Ëπé πÕ°®“°π—Èπ ∫√‘…—∑·≈–∫√‘…—∑¬àÕ¬√—∫√Ÿâ√“¬‰¥â‚¥¬∂◊ժؑ∫—µ‘µ“¡¡“µ√∞“π°“√∫—≠™’‡√◊ËÕß ç°“√√—∫√Ÿâ√“¬‰¥â ”À√—∫∏ÿ√°‘®Õ —ßÀ“√‘¡∑√—æ¬åé ‡™àπ °“√∑”  —≠≠“®–´◊ÈÕ®–¢“¬Õ“§“√™ÿ¥µâÕß¡’®”π«π‰¡àπâÕ¬°«à“√âÕ¬≈– 40 ¢Õßæ◊Èπ∑’Ë∑’ˇªî¥¢“¬ ‡ß‘π«“߇√‘Ë¡·√°·≈–‡ß‘π§à“ß«¥¢ÕߺŸâ´◊ÈÕ∑’Ë™”√–·≈⫵âÕß¡’®”π«π ‰¡àπâÕ¬°«à“√âÕ¬≈– 20 ¢Õß√“§“¢“¬µ“¡ —≠≠“ ‡ªìπµâπ

Annual Report 2009 M.K. Real Estate Development Plc.

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4.2.2 §à“„™â®à“¬ µâπ∑ÿπ¢“¬®–§”π«≥µ“¡µâπ∑ÿπ∑—ßÈ À¡¥∑’ªË √–¡“≥°“√«à“®–‡°‘¥¢÷πÈ ¢Õß‚§√ß°“√·≈–√—∫√Ÿµâ “¡Õ—µ√“√âÕ¬≈–¢Õß°“√√—∫√Ÿ√â “¬‰¥â ‚¥¬°“√æ‘®“√≥“·µà≈–·ª≈߬àÕ¬ µâπ∑ÿπ®“°°“√√—∫®â“ß°àÕ √â“ß∫—π∑÷°µ“¡Õ—µ√“ à«π√âÕ¬≈–¢Õßß“π∑’∑Ë ”‡ √Á®‚¥¬«‘»«°√ ‚¥¬®–∫—π∑÷° ”√Õ߇º◊ÕË º≈¢“¥∑ÿπ ”À√—∫°“√°àÕ √â“ß∑—ßÈ ®”π«π ‡¡◊ËÕ∑√“∫·πà™—¥«à“°“√°àÕ √â“ßπ—Èπ®–ª√– ∫º≈¢“¥∑ÿπ 4.2.3 §à“µÕ∫·∑π —≠≠“‡™à“√—∫√Ÿâ‡ªìπ√“¬‰¥âµ“¡Õ“¬ÿ¢Õß —≠≠“‡™à“ 4.2.4 ∫√‘…—∑·≈–∫√‘…—∑¬àÕ¬√—∫√Ÿâ√“¬‰¥âÕ◊Ëπ·≈–§à“„™â®à“¬µ“¡‡°≥±å§ß§â“ß ‡ß‘π ¥·≈–√“¬°“√‡∑’¬∫‡∑à“‡ß‘π ¥ ‡ß‘π ¥·≈–√“¬°“√‡∑’¬∫‡∑à“‡ß‘π ¥ À¡“¬∂÷ß ‡ß‘π ¥·≈–‡ß‘πΩ“°∏𓧓√ ·≈–‡ß‘π≈ß∑ÿπ√–¬– —Èπ∑’Ë¡’ ¿“æ§≈àÕß Ÿß ´÷Ëß∂÷ß°”Àπ¥®à“¬§◊π¿“¬„π√–¬–‡«≈“‰¡à ‡°‘π 3 ‡¥◊Õππ—∫®“°«—π∑’ˉ¥â¡“·≈– ‰¡à¡’¢âÕ®”°—¥„π°“√‡∫‘°„™â §à“‡º◊ËÕÀπ’È ß —¬®– Ÿ≠ ∫√‘…—∑·≈–∫√‘…—∑¬àÕ¬µ—Èß§à“‡º◊ËÕÀπ’È ß —¬®– Ÿ≠µ“¡®”π«πÀπ’È∑’˧“¥«à“®–‡√’¬°‡°Á∫®“°≈Ÿ°Àπ’ȉ¡à‰¥â ∑—Èßπ’È‚¥¬°“√ª√–¡“≥®“°ª√– ∫°“√≥å„π°“√‡√’¬°‡°Á∫Àπ’È „πÕ¥’µ§«∫§Ÿà°—∫°“√«‘‡§√“–Àå∞“π–ªí®®ÿ∫—π¢Õß≈Ÿ°Àπ’È  ‘π§â“§ß‡À≈◊Õ  ‘π§â“§ß‡À≈◊Õ ‰¥â·°à Õ —ßÀ“√‘¡∑√—æ¬å‡æ◊ËÕ¢“¬ ∫√‘…—∑µ’√“§“ ‘π§â“§ß‡À≈◊Õ„π√“§“∑ÿπ À√◊Õ¡Ÿ≈§à“ ÿ∑∏‘∑’Ë®–‰¥â√—∫·≈â«·µà√“§“„¥®–µË”°«à“ ∑’Ë¥‘πæ—≤π“‡æ◊ËÕ¢“¬ª√–°Õ∫¥â«¬µâπ∑ÿπ¢Õß∑’Ë¥‘π ¥Õ°‡∫’Ȭ®“°‡ß‘π°Ÿâ∑’ˇ°’ˬ«¢âÕß·≈–√“¬®à“¬„π°“√æ—≤π“∑—Èß ‘Èπ ÿ∑∏‘®“°µâπ∑ÿπ¢Õß∑’Ë¥‘π∑’Ë¢“¬·≈â« À√◊Õ¡Ÿ≈§à“  ÿ∑∏‘∑’Ë®–‰¥â√—∫·≈â«·µà√“§“„¥®–µË”°«à“ ∫√‘…—∑·≈–∫√‘…—∑¬àÕ¬§”π«≥µâπ∑ÿπ∑’Ë¥‘πæ—≤π“‡æ◊ËÕ¢“¬‚¥¬∂◊Õµ“¡Õ—µ√“√âÕ¬≈–¢Õß°“√√—∫√Ÿâ√“¬‰¥â ‚¥¬°“√æ‘®“√≥“·µà≈–·ª≈߬àÕ¬ «— ¥ÿ°àÕ √â“ߧ߇À≈◊Õµ’√“§“„π√“§“∑ÿπµ“¡«‘∏’‡¢â“°àÕπ - ÕÕ°°àÕπ À√◊Õ¡Ÿ≈§à“ ÿ∑∏‘∑’Ë®–‰¥â√—∫·≈â«·µà√“§“„¥®–µË”°«à“ ∫√‘…—∑·≈–∫√‘…—∑¬àÕ¬®–À¬ÿ¥∫—π∑÷°¥Õ°‡∫’Ȭ∑’ˇ°’ˬ«¢âÕ߇¢â“‡ªìπµâπ∑ÿπ¢Õß ‘π§â“§ß‡À≈◊Õ‡¡◊ËÕß“π°àÕ √â“ß·≈⫇ √Á®À√◊Õß“π°àÕ √â“ß¡’°“√À¬ÿ¥™–ß—° µâπ∑ÿπ°“√æ—≤𓂧√ß°“√ µâπ∑ÿπ°“√æ—≤𓂧√ß°“√ · ¥ß„π√“§“∑ÿπ √“§“∑ÿπª√–°Õ∫¥â«¬µâπ∑ÿπ„π°“√‰¥â¡“´÷Ëß∑’Ë¥‘π §à“æ—≤π“∑’Ë¥‘π §à“°àÕ √â“ß·≈–§à“„™â®à“¬∑’ˇ°’ˬ«¢âÕß‚¥¬µ√ß°—∫ ‚§√ß°“√√«¡∑—Èߥհ‡∫’Ȭ ¥Õ°‡∫’Ȭ®à“¬∑’˧‘¥‡¢â“‡ªìπµâπ∑ÿπ¢Õß‚§√ß°“√ §”π«≥®“°Õ—µ√“µ—Èßµâπ‡ªìπ∑ÿπ§Ÿ≥µâπ∑ÿπ„π°“√æ—≤𓂧√ß°“√ ‰¥â·°à ∑’Ë¥‘π ·≈–ß“π°àÕ √â“ßæ—≤π“‡æ◊ËÕ¢“¬ ∫√‘…—∑À¬ÿ¥∫—π∑÷°¥Õ°‡∫’Ȭ∑’ˇ°’ˬ«¢âÕ߇¢â“‡ªìπµâπ∑ÿπæ—≤π“∑’Ë¥‘π‡¡◊ËÕß“π°àÕ √â“ß‚§√ß°“√®∫·≈â«À√◊Õß“π°àÕ √â“ß¡’°“√À¬ÿ¥™–ß—° ‡ß‘π≈ß∑ÿπ„π∫√‘…—∑¬àÕ¬ ·≈–∫√‘…—∑√à«¡ ‡ß‘π≈ß∑ÿπ„π∫√‘…∑— ¬àÕ¬ ·≈–∫√‘…∑— √à«¡· ¥ßµ“¡«‘∏√’ “§“∑ÿπ ·≈–∫√‘…∑— ®–∫—π∑÷°º≈°”‰√À√◊Õ¢“¥∑ÿπ®“°°“√®”Àπà“¬„πß∫°”‰√¢“¥∑ÿπ„πß«¥∑’¡Ë °’ “√®”Àπà“¬ ‡ß‘π≈ß∑ÿππ—Èπ ·≈–„π°√≥’∑’ˇߑπ≈ß∑ÿπ¥—ß°≈à“«‡°‘¥°“√¥âÕ¬§à“ ∫√‘…—∑®–√—∫√Ÿâº≈¢“¥∑ÿπ®“°°“√¥âÕ¬§à“‡ªìπ§à“„™â®à“¬„πß∫°”‰√¢“¥∑ÿπ ß∫°“√‡ß‘π√«¡ ‡ß‘π≈ß∑ÿπ„π∫√‘…—∑¬àÕ¬„πß∫°“√‡ß‘π‡©æ“–∫√‘…—∑ ∫—π∑÷°∫—≠™’‚¥¬„™â«‘∏’√“§“∑ÿπ ´÷Ëß°“√∫—π∑÷°µ“¡«‘∏’√“§“∑ÿππ’ȇߑπ≈ß∑ÿπ®–∫—π∑÷°§√—Èß·√°„π√“§“∑ÿπ∑’Ë´◊ÈÕ¡“ „π°√≥’∑’Ë∫√‘…—∑¡’¿“√–ºŸ°æ—πÀ√◊ÕµâÕß®à“¬‡ß‘π‡æ◊ËÕ™”√–¿“√–Àπ’È ‘π¢Õß∫√‘…—∑¬àÕ¬´÷Ëß∫√‘…—∑„Àâ°“√§È”ª√–°—π À√◊Õ„Àâ°“√¬‘π¬Õ¡‰«â ∫√‘…—∑®–ª√–¡“≥º≈‡ ’¬ À“¬®“°Àπ’È ‘π¢Õß∫√‘…—∑¬àÕ¬∑’Ë¡’µàÕ∫√‘…—∑„À≠à ·≈–· ¥ß‡ªìπ à«π¢ÕßÀπ’È ‘π‰¡àÀ¡ÿπ‡«’¬π¿“¬„µâ™◊ËÕ√“¬°“√ çª√–¡“≥°“√Àπ’È ‘π∑’Ë¡’µàÕ∫√‘…—∑¬àÕ¬é „πß∫¥ÿ≈ §à“§«“¡π‘¬¡ (Positive goodwill)  à«π¢Õß¡Ÿ≈§à“ ‘π∑√—æ¬å ÿ∑∏‘¢Õß∫√‘…—∑√à«¡∑’˵˔°«à“¡Ÿ≈§à“‡ß‘π≈ß∑ÿ𠉥â∫—π∑÷°‡ªìπ ç§à“§«“¡π‘¬¡é ¿“¬„µâ™◊ËÕ∫—≠™’ ç‡ß‘π≈ß∑ÿπ„π∫√‘…—∑√à«¡é §à“§«“¡π‘¬¡π’È √—∫√Ÿâ‡ªìπ§à“„™â®à“¬‡ªìπ‡«≈“ 20 ªï ‚¥¬µ—¥®à“¬µ“¡«‘∏’‡ âπµ√ß µ—Èß·µàªï 2551 ∫√‘…—∑À¬ÿ¥µ—¥√—∫√Ÿâ§à“§«“¡π‘¬¡‡ªìπ§à“„™â®à“¬ ·≈–æ‘®“√≥“°“√¥âÕ¬§à“·∑π ‡ß‘π≈ß∑ÿπ„π°‘®°“√∑’ˇ°’ˬ«¢âÕß°—π·≈–∫√‘…—∑Õ◊Ëπ ‡ß‘π≈ß∑ÿπ√–¬–¬“«„π°‘®°“√∑’ˇ°’ˬ«¢âÕß°—π·≈–∫√‘…—∑Õ◊Ëπ∑’ˇªìπ‡ß‘π≈ß∑ÿπ∑—Ë«‰ª· ¥ß„π√“§“∑ÿπ (À—°¥â«¬ ”√Õ߇º◊ËÕ°“√¥âÕ¬§à“¢Õ߇ߑπ≈ß∑ÿπ) ∫√‘…—∑®–√—∫√Ÿâº≈ ¢“¥∑ÿπ®“°°“√¥âÕ¬§à“‡ªìπ§à“„™â®à“¬„πß∫°”‰√¢“¥∑ÿπ ∑’Ë¥‘π Õ“§“√·≈–Õÿª°√≥å/ ‘∑∏‘°“√‡™à“ ∫√‘…—∑·≈–∫√‘…—∑¬àÕ¬µ—¥§à“‡ ◊ËÕ¡√“§“Õ“§“√·≈–Õÿª°√≥å ‚¥¬«‘∏’‡ âπµ√ßµ“¡Õ“¬ÿ°“√„™âß“π‚¥¬ª√–¡“≥¢Õß ‘π∑√—æ¬å ¥—ßπ’È ªï  π“¡°Õ≈åø 30 Õ“§“√·≈– ‘Ëߪ≈Ÿ° √â“ß 20 ¬“πæ“Àπ– 5 ‡§√◊ËÕß®—°√·≈–Õÿª°√≥å 5 ‡§√◊ËÕßµ°·µàß µ‘¥µ—Èß·≈–‡§√◊ËÕß„™â ”π—°ß“π 5  ‘∑∏‘°“√‡™à“·≈– ‘∑∏‘°“√„™âÕ“§“√·≈– à«πª√—∫ª√ÿß∑’Ë¥‘π‡™à“ · ¥ß√“§“∑ÿπÀ—°§à“µ—¥®”Àπà“¬·≈–¡’°“√µ—¥®”Àπà“¬‡ªìπ§à“„™â®à“¬µ≈Õ¥Õ“¬ÿ¢Õß —≠≠“‡™à“ 30 ªï ‚¥¬«‘∏’‡ âπµ√ß

√“¬ß“πª√–®”ªï 2552 ∫√‘…—∑ ¡—Ëπ§ß‡§À–°“√ ®”°—¥ (¡À“™π)


4.10 ‘π∑√—æ¬å∑’ˉ¡à¡’µ—«µπ  ‘π∑√—æ¬å∑’ˉ¡à¡’µ—«µπ· ¥ßµ“¡√“§“∑ÿπÀ—°§à“µ—¥®”Àπà“¬ – ¡ §à“µ—¥®”Àπà“¬¢Õß ‘π∑√—æ¬å∑’ˉ¡à¡’µ—«µπ §”π«≥®“°√“§“∑ÿπ¢Õß ‘π∑√—æ¬å‚¥¬«‘∏’‡ âπµ√ß µ“¡Õ“¬ÿ°“√„™âß“π‚¥¬ª√–¡“≥¢Õß ‘π∑√—æ¬å ¥—ßµàÕ‰ªπ’È ‚ª√·°√¡§Õ¡æ‘«‡µÕ√å - 5 ªï 4.11 °“√¥âÕ¬§à“¢Õß ‘π∑√—æ¬å ∫√‘…—∑·≈–∫√‘…—∑¬àÕ¬ Õ∫∑“π°“√¥âÕ¬§à“¢Õß ‘π∑√—æ¬å‡¡◊ËÕ¡’¢âÕ∫àß™’È«à“√“§“µ“¡∫—≠™’ ¢Õß ‘π∑√—æ¬å¡’¡Ÿ≈§à“ Ÿß°«à“¡Ÿ≈§à“∑’˧“¥«à“®–‰¥â√—∫§◊π ¡Ÿ≈§à“∑’˧“¥«à“ ®–‰¥â√—∫§◊πÀ¡“¬∂÷ß√“§“¢“¬ ÿ∑∏‘ À√◊Õ¡Ÿ≈§à“®“°°“√„™â¢Õß ‘π∑√—æ¬åπ—Èπ·≈â«·µà®”π«π„¥®– Ÿß°«à“ ´÷Ëß¡Ÿ≈§à“®“°°“√„™â¥—ß°≈à“«¡“®“°°“√ª√–¡“≥°“√ ¢ÕßΩÉ“¬∫√‘À“√ „π°√≥’∑’Ë√“§“µ“¡∫—≠™’¢Õß ‘π∑√—æ¬å Ÿß°«à“¡Ÿ≈§à“∑’˧“¥«à“®–‰¥â√—∫§◊π ∫√‘…—∑·≈–∫√‘…—∑¬àÕ¬®–√—∫√Ÿâ¢“¥∑ÿπ®“°°“√¥âÕ¬§à“¢Õß ‘π∑√—æ¬å„πß∫°”‰√¢“¥∑ÿπ ·≈–®–∫—π∑÷°°≈—∫√“¬°“√¢“¥∑ÿπ®“°°“√¥âÕ¬§à“¢Õß ‘π∑√—æ¬å‡¡◊ËÕ¡’¢âÕ∫àß™’È«à“°“√≈¥¡Ÿ≈§à“¥—ß°≈à“«‰¡à¡’Õ¬ŸàÕ’°µàÕ‰ªÀ√◊Õ¬—ߧߡ’Õ¬Ÿà·µà‡ªìπ‰ª„π∑“ß∑’Ë≈¥≈ß 4.12 °“√‡™à“¥”‡π‘πß“π °“√‡™à“ ‘π∑√—æ¬å´÷Ëߧ«“¡‡ ’ˬ߷≈–°√√¡ ‘∑∏‘Ï¢Õß ‘π∑√—æ¬å∑’ˇ™à“‡ªìπ¢ÕߺŸâ„Àâ‡™à“ ‰¥â®—¥ª√–‡¿∑‡ªìπ°“√‡™à“¥”‡π‘πß“π §à“‡™à“∑’Ë®à“¬¿“¬„µâ°“√‡™à“¥”‡π‘πß“π‰¥â ∫—π∑÷°‡ªìπ§à“„™â®à“¬Õ¬à“߇ªìπ√–∫∫¿“¬„µâÕ“¬ÿ —≠≠“‡™à“ 4.13  —≠≠“‡™à“°“√‡ß‘π  —≠≠“‡™à“∑√—æ¬å π‘ ∑’‰Ë ¥â‚Õ𧫓¡‡ ’¬Ë ß·≈–º≈µÕ∫·∑π„𧫓¡‡ªìπ‡®â“¢Õß„π∑√—æ¬å π‘ „Àâ°∫— ∫√‘…∑— ·≈–∫√‘…∑— ¡’§«“¡µ—ßÈ „®∑’®Ë –„™â ∑‘ ∏‘„π°“√´◊ÕÈ ∑√—æ¬å π‘ ‡¡◊ÕË ∂÷ß«—π∑’˧√∫°”Àπ¥¢Õß —≠≠“‡™à“ ∂Ÿ°∫—π∑÷°‡ªìπ —≠≠“‡™à“°“√‡ß‘π ≥ «—π‡√‘¡Ë µâπ —≠≠“‡™à“∑“ß°“√‡ß‘π µâπ∑ÿπ¢Õß∑√—æ¬å π‘ ∂Ÿ°∫—π∑÷°‰«âæ√âÕ¡°—∫¿“√–ºŸ°æ—π ”À√—∫°“√®à“¬§à“‡™à“„πÕ𓧵‚¥¬‰¡à√«¡®”π«π¥Õ°‡∫’¬È §à“„™â®“à ¬ ∑“ß°“√‡ß‘π∫—π∑÷°‡ªìπ§à“„™â®à“¬„πß«¥ªïªí®®ÿ∫—πµ“¡Õ—µ√“¥Õ°‡∫’Ȭ∑’Ë·∑â®√‘ß °√√¡ ‘∑∏‘Ï„π∑√—æ¬å ‘π∑’Ë´◊ÈÕµ“¡ —≠≠“‡™à“´◊ÈÕπ’È®–‚Õπ‡ªìπ¢Õß∫√‘…—∑ ‡¡◊ËÕ‰¥â™”√–§√∫∂â«π·≈â« 4.14 √“¬°“√∫—≠™’∑’ˇªìπ‡ß‘πµ√“µà“ߪ√–‡∑» √“¬°“√∫—≠™’∑’ˇªìπ‡ß‘πµ√“µà“ߪ√–‡∑»‰¥â∫—π∑÷°∫—≠™’µ“¡Õ—µ√“·≈°‡ª≈’ˬπ ≥ «—π∑’ˇ°‘¥√“¬°“√ ‘π∑√—æ¬å·≈–Àπ’È ‘π∑’ˇªìπ‡ß‘πµ√“µà“ߪ√–‡∑» ≥ «—π∑’Ë„πß∫¥ÿ≈ ‰¥â·ª≈ß§à“‡ªìπ‡ß‘π∫“∑¥â«¬Õ—µ√“·≈°‡ª≈’ˬπ ≥ «—ππ—Èπ °”‰√À√◊Õ¢“¥∑ÿπ®“°°“√·ª≈ߧà“∫—π∑÷°‡ªìπ√“¬‰¥â À√◊Õ§à“„™â®à“¬¢Õßß«¥ªí®®ÿ∫—π 4.15 °“√„™âª√–¡“≥°“√∑“ß∫—≠™’ „π°“√®—¥∑”ß∫°“√‡ß‘π„À⇪ìπ‰ªµ“¡À≈—°°“√∫—≠™’∑√Ë’ ∫— √Õß∑—«Ë ‰ª ΩÉ“¬∫√‘À“√µâÕß„™â°“√ª√–¡“≥·≈–µ—ßÈ ¢âÕ ¡¡µ‘∞“πÀ≈“¬ª√–°“√ ´÷ßË ¡’º≈°√–∑∫µàÕ®”π«π ‡ß‘π∑’ˇ°’ˬ«°—∫√“¬‰¥â §à“„™â®à“¬  ‘π∑√—æ¬å·≈–Àπ’È ‘π ·≈–°“√‡ªî¥‡º¬¢âÕ¡Ÿ≈‡°’ˬ«°—∫ ‘π∑√—æ¬å·≈–Àπ’È∑’ËÕ“®®–‡°‘¥¢÷Èπ ´÷Ëߺ≈∑’ˇ°‘¥¢÷Èπ®√‘ßÕ“®·µ°µà“߉ª®“° ®”π«π∑’˪√–¡“≥‰«â 4.16 ª√–¡“≥°“√Àπ’È ‘π ª√–¡“≥°“√Àπ’È ‘π®–√—∫√Ÿâ„πß∫¥ÿ≈°ÁµàÕ‡¡◊ËÕ∫√‘…—∑¡’¿“√–Àπ’È ‘π‡°‘¥¢÷Èπ®“°¿“√–ºŸ°æ—πµ“¡°ÆÀ¡“¬À√◊Õ¿“√–ºŸ°æ—π´÷Ë߇ªìπº≈¡“®“°‡Àµÿ°“√≥宓°Õ¥’µ·≈– ¡’§«“¡‡ªìπ‰ª‰¥â§àÕπ¢â“ß·πàπÕπ«à“ª√–‚¬™π凙‘߇»√…∞°‘®®–µâÕß∂Ÿ°®à“¬‰ª‡æ◊ËÕ™”√–¿“√–Àπ’È ‘π¥—ß°≈à“« ‚¥¬¿“√–Àπ’È ‘π¥—ß°≈à“« “¡“√∂ª√–¡“≥®”π«π ‡ß‘π‰¥âÕ¬à“ßπà“‡™◊ËÕ∂◊Õ 4.17 ‡§√◊ËÕß¡◊Õ∑“ß°“√‡ß‘π ∫√‘…—∑·≈–∫√‘…—∑¬àÕ¬‰¡à¡’π‚¬∫“¬∑’Ë®–ª√–°Õ∫∏ÿ√°√√¡µ√“ “√∑“ß°“√‡ß‘ππÕ°ß∫¥ÿ≈∑’ˇªìπµ√“ “√Õπÿæ—π∏å‡æ◊ËÕ°“√‡°Áß°”‰√À√◊Õ‡æ◊ËÕ°“√§â“ ‡§√◊ËÕß¡◊Õ∑“ß°“√ ‡ß‘π∑’Ë· ¥ß„πß∫¥ÿ≈ª√–°Õ∫¥â«¬ ‡ß‘π ¥·≈–√“¬°“√‡∑’¬∫‡∑à“‡ß‘π ¥ ≈Ÿ°Àπ’È°“√§â“ ‡ß‘π„Àâ°Ÿâ¬◊¡·°à°‘®°“√∑’ˇ°’ˬ«¢âÕß°—𠇮â“Àπ’È°“√§â“ ·≈–‡ß‘π°Ÿâ¬◊¡®“°  ∂“∫—π°“√‡ß‘π ´÷Ëßπ‚¬∫“¬°“√∫—≠™’‡©æ“– ”À√—∫·µà≈–√“¬°“√‰¥â‡ªî¥‡º¬·¬°‰«â„π·µà≈–À—«¢âÕ∑’ˇ°’ˬ«¢âÕß 4.18 º≈ª√–‚¬™πåæπ—°ß“π ‡ß‘π‡¥◊Õπ §à“®â“ß ‚∫π—  §à“ª√–°—π —ߧ¡ ·≈– «— ¥‘°“√µà“ßÊ √—∫√Ÿâ‡ªìπ§à“„™â®à“¬‡¡◊ËÕ‡°‘¥√“¬°“√ 4.19 Àÿâπ∑ÿπ´◊ÈÕ§◊π Àÿπâ ∑ÿπ´◊ÕÈ §◊π· ¥ß¡Ÿ≈§à“„πß∫¥ÿ≈¥â«¬√“§“∑ÿπ‡ªìπ√“¬°“√À—°®“° à«π¢ÕߺŸ∂â Õ◊ Àÿπâ ∑—ßÈ À¡¥À“°√“§“¢“¬¢ÕßÀÿπâ ∑ÿπ´◊ÕÈ §◊π Ÿß°«à“√“§“´◊ÕÈ ¢ÕßÀÿπâ ∑ÿπ´◊ÕÈ §◊π ∫√‘…∑— ®–√—∫√Ÿâº≈µà“߇¢â“∫—≠™’ à«π‡°‘π¡Ÿ≈§à“Àÿâπ∑ÿπ´◊ÈÕ§◊π·≈–À“°√“§“¢“¬¢ÕßÀÿâπ∑ÿπ´◊ÈÕ§◊πµË”°«à“√“§“´◊ÈÕ¢ÕßÀÿâπ∑ÿπ´◊ÈÕ§◊π∫√‘…—∑®–π”º≈µà“ßÀ—°®“° à«π‡°‘π ¡Ÿ≈§à“Àÿâπ∑ÿπ´◊ÈÕ§◊π„ÀâÀ¡¥‰ª°àÕπ ·≈â«®÷ßπ”º≈µà“ß∑’ˇÀ≈◊ÕÕ¬Ÿà‰ªÀ—°®“°∫—≠™’°”‰√ – ¡ 4.20 ¿“…’‡ß‘π‰¥â ∫√‘…—∑∫—π∑÷°¿“…’‡ß‘π‰¥â (∂â“¡’) µ“¡®”π«π∑’Ë®–µâÕß®à“¬µ“¡ª√–¡«≈√—…Æ“°√‡°≥±å°“√§”π«≥¿“…’‡ß‘π‰¥â·≈–π‚¬∫“¬∑’Ë„™â„À⥟‡æ‘Ë¡‡µ‘¡∑’ËÀ¡“¬‡Àµÿ¢âÕ 25 4.21 °”‰√µàÕÀÿâπ¢—Èπæ◊Èπ∞“π °”‰√µàÕÀÿπâ ¢—πÈ æ◊πÈ ∞“π§”π«≥‚¥¬°“√À“√°”‰√ ÿ∑∏‘ «à π∑’‡Ë ªìπ¢ÕߺŸ∂â Õ◊ Àÿπâ ∫√‘…∑— „À≠à ”À√—∫ªï¥«â ¬®”π«πÀÿπâ  “¡—≠∂—«‡©≈’¬Ë ∂à«ßπÈ”Àπ—°∑’ÕË Õ°·≈–‡√’¬°™”√–·≈â« „π√–À«à“ßªï ®”π«πÀÿâπ “¡—≠∂—«‡©≈’ˬ∂à«ßπÈ”Àπ—°§”π«≥‚¥¬ ÿ∑∏‘®“°Àÿâπ∑ÿπ´◊ÈÕ§◊π∑’Ë∂◊Õ‚¥¬∫√‘…—∑µ“¡∑’Ë°≈à“«‰«â„πÀ¡“¬‡Àµÿª√–°Õ∫ß∫°“√‡ß‘π¢âÕ 23

Annual Report 2009 M.K. Real Estate Development Plc.

51


5.

√“¬°“√∫—≠™’°—∫∫√‘…—∑∑’ˇ°’ˬ«¢âÕß 5.1 ∫√‘…—∑¡’√“¬°“√∫—≠™’°—∫∫√‘…—∑∑’ˇ°’ˬ«¢âÕß°—π ‘π∑√—æ¬å Àπ’È ‘π √“¬‰¥â µâπ∑ÿπ·≈–§à“„™â®à“¬  à«πÀπ÷ËߢÕß∫√‘…—∑‡°‘¥¢÷Èπ®“°√“¬°“√°—∫∫√‘…—∑∑’ˇ°’ˬ«¢âÕß°—π ¥—ß°≈à“« ∫√‘…—∑‡À≈à“π’ȇ°’ˬ«¢âÕß°—π‚¥¬°“√¡’ºŸâ∂◊ÕÀÿâπ∫“ß à«π·≈–/À√◊Õ°√√¡°“√√à«¡°—π º≈¢Õß√“¬°“√¥—ß°≈à“«´÷Ë߇ªìπ√“¬°“√ª°µ‘∏ÿ√°‘®‰¥â√«¡‰«â„π ß∫°“√‡ß‘ππ’ȵ“¡¡Ÿ≈∞“π∑’˵°≈ß°—π‚¥¬∫√‘…—∑∑’ˇ°’ˬ«¢âÕß √“¬°“√∫—≠™’∑’Ë¡’ “√– ”§—≠√–À«à“ß∫√‘…—∑°—∫∫√‘…—∑∑’ˇ°’ˬ«¢âÕß°—π ´÷Ë߉¥â√«¡‰«â„πß∫°“√‡ß‘π√«¡·≈–ß∫°“√‡ß‘π‡©æ“–∫√‘…—∑ ”À√—∫ªï ‘Èπ ÿ¥«—π∑’Ë 31 ∏—𫓧¡ 2552 ·≈– 2551 ¡’¥—ßπ’È ≈â“π∫“∑ ß∫°“√‡ß‘π√«¡ ß∫°“√‡ß‘π‡©æ“–∫√‘…—∑  ”À√—∫ªï ‘Èπ ÿ¥ «—π∑’Ë 31 ∏—𫓧¡  ”À√—∫ªï ‘Èπ ÿ¥ «—π∑’Ë 31 ∏—𫓧¡ ‡°≥±å°”Àπ¥√“§“ 2552 2551 2552 2551 √“¬‰¥â®“°°“√¢“¬-∑’Ë¥‘π - ∫√‘…—∑ ·¡π§Õπ ®”°—¥ √“§“¢“¬ Ÿß°«à“√“§“ª√–‡¡‘π 10.61 - ∫√‘…—∑ ·¡π§Õπ ®”°—¥ √“§“∑ÿπ 44.72 √“¬‰¥â§à“∏√√¡‡π’¬¡-∑’Ë¥‘π - ∫√‘…—∑ ·¡π§Õπ ®”°—¥ √“§“ª√–‡¡‘π®“°°√¡∑’Ë¥‘π 0.94 √“¬‰¥â®“°°“√‡™à“æ◊Èπ∑’Ë·≈–§à“∫√‘°“√ √“§“µ≈“¥ 2.07 2.07 2.10 2.10 ¢“¬«— ¥ÿ - ∫√‘…—∑ ·¡π§Õπ ®”°—¥ √“§“∑ÿπ 0.55 ¥Õ°‡∫’Ȭ®à“¬ Õ—µ√“¥Õ°‡∫’Ȭ√âÕ¬≈– - ∫√‘…—∑ ¥Ÿ√“ø≈Õ√å ®”°—¥ (2552 : 8.00-8.75 µàÕªï) (2551 : 8.75-9.25 µàÕªï) 1.10 1.66 1.10 1.66 ‡ß‘πªíπº≈√—∫ - ∫√‘…—∑ ·¡π§Õπ ®”°—¥ µ“¡®”π«π∑’˪√–°“»®à“¬ 6.69 - ∫√‘…—∑ ¥Ÿ√“ø≈Õ√å ®”°—¥ µ“¡®”π«π∑’˪√–°“»®à“¬ 0.52 0.42 0.52 0.37 - ∫√‘…—∑ À“¥„À≠àπ§√‘π∑√å ®”°—¥ µ“¡®”π«π∑’˪√–°“»®à“¬ 2.88 2.31 2.88 2.31 ¬Õ¥§ß‡À≈◊Õ ≥ «—π∑’Ë 31 ∏—𫓧¡ 2552 ·≈– 2551 ∑’Ë¡’ “√– ”§—≠¡’¥—ßπ’È ∫“∑ ß∫°“√‡ß‘π√«¡ ≥ «—π∑’Ë 31 ∏—𫓧¡ 2552 2551 ≈Ÿ°Àπ’È∫√‘…—∑∑’ˇ°’ˬ«¢âÕß°—π - ∫√‘…—∑ ·¡π§Õπ ®”°—¥

-

ß∫°“√‡ß‘π‡©æ“–∫√‘…—∑ ≥ «—π∑’Ë 31 ∏—𫓧¡ 2552 2551 -

10,611,700

44,725,215

„πªï 2552 ∫√‘…—∑„À≠࢓¬∑’Ë¥‘π√Õ°“√æ—≤π“·≈–‡æ◊ËÕ¢“¬∫“ß à«π„Àâ°—∫∫√‘…—∑¬àÕ¬‚¥¬°”Àπ¥„À⢓¬„π√“§“∑’Ë Ÿß°«à“√“§“ª√–‡¡‘π¢ÕߺŸâª√–‡¡‘πÕ‘ √– ∫√‘…—∑„À≠à¡’°”‰√®“°°“√¢“¬∑’Ë¥‘π¥—ß°≈à“« 8.57 ≈â“π∫“∑ (√“§“∑ÿ𠵓√“ß«“≈– 2,116.64 ∫“∑ : √“§“¢“¬µ“√“ß«“≈– 11,000.00 ∫“∑ : √“§“ºŸâª√–‡¡‘π Õ‘ √– 6,407.71 ∫“∑) „πªï 2551 ∫√‘…∑— „À≠࢓¬∑’¥Ë π‘ √Õ°“√æ—≤π“·≈–‡æ◊ÕË ¢“¬∫“ß à«π„Àâ°∫— ∫√‘…∑— ¬àÕ¬„π√“§“∑ÿπ (µ“¡∫—≠™’) ®”π«π‡ß‘π 44.72 ≈â“π∫“∑ ‡æ◊ÕË π”‰ªæ—≤𓂧√ß°“√ Õ —ßÀ“√‘¡∑√—æ¬å‡æ◊ËÕ¢“¬ ·≈–™”√–§◊π‡ √Á® ‘Èπ„π√–À«à“ߪï 2552 ≈Ÿ°Àπ’È·≈–‡ß‘π∑¥√Õß·°à°‘®°“√∑’ˇ°’ˬ«¢âÕß°—π ∫“∑ ß∫°“√‡ß‘π√«¡ ≥ «—π∑’Ë 31 ∏—𫓧¡ 2552 2551 ∫√‘…—∑ ·¡π§Õπ ®”°—¥ ‡ß‘π∑¥√Õß·°à°‘®°“√∑’ˇ°’ˬ«¢âÕß°—π ¬Õ¥§ß‡À≈◊Õ¬°¡“µâπªï ‡ß‘π∑¥√Õ߇æ‘Ë¡√–À«à“ßªï ‡ß‘π∑¥√Õß®à“¬§◊π√–À«à“ßªï ¬Õ¥§ß‡À≈◊Õ¬°‰ªª≈“¬ªï

-

‡ß‘π∑¥√Õß ∫√‘…—∑ ·¡π§Õπ ®”°—¥ ‰¡à¡’°“√§‘¥¥Õ°‡∫’Ȭ ·≈–∂÷ß°”Àπ¥®à“¬§◊π‡¡◊ËÕ∑«ß∂“¡

52

√“¬ß“πª√–®”ªï 2552 ∫√‘…—∑ ¡—Ëπ§ß‡§À–°“√ ®”°—¥ (¡À“™π)

ß∫°“√‡ß‘π‡©æ“–∫√‘…—∑ ≥ «—π∑’Ë 31 ∏—𫓧¡ 2552 2551

-

28,498,892 40,492,391 (50,089,686) 18,901,597

22,917,693 104,856,358 (99,275,159) 28,498,892


‡ß‘π∑¥√Õß®“°°‘®°“√∑’ˇ°’ˬ«¢âÕß°—π ∫“∑

∫√‘…—∑ ¥Ÿ√“ø≈Õ√å ®”°—¥ ¬Õ¥§ß‡À≈◊Õ¬°¡“µâπªï ‡ß‘π∑¥√Õ߇æ‘Ë¡√–À«à“ßªï ‡ß‘π∑¥√Õß∑’Ë®à“¬§◊π√–À«à“ßªï ¬Õ¥§ß‡À≈◊Õ¬°‰ªª≈“¬ªï

6.

ß∫°“√‡ß‘π√«¡ ≥ «—π∑’Ë 31 ∏—𫓧¡ 2552 2551

ß∫°“√‡ß‘π‡©æ“–∫√‘…—∑ ≥ «—π∑’Ë 31 ∏—𫓧¡ 2552 2551

13,200,000 20,000,000 (23,200,000) 10,000,000

13,200,000 20,000,000 (23,200,000) 10,000,000

18,200,000 (5,000,000) 13,200,000

18,200,000 (5,000,000) 13,200,000

‡ß‘π∑¥√Õß∫√‘…—∑ ¥Ÿ√“ø≈Õ√å ®”°—¥ §‘¥¥Õ°‡∫’Ȭ՗µ√“√âÕ¬≈– 8.00 - 8.75 µàÕªï (2551 √âÕ¬≈– 8.87- 9.25 µàÕªï) ·≈–°”Àπ¥®à“¬§◊π‡¡◊ËÕ∑«ß∂“¡ ‡ß‘π ¥·≈–√“¬°“√‡∑’¬∫‡∑à“‡ß‘π ¥ ∫“∑ ß∫°“√‡ß‘π√«¡ ß∫°“√‡ß‘π‡©æ“–∫√‘…—∑ ≥ «—π∑’Ë 31 ∏—𫓧¡ ≥ «—π∑’Ë 31 ∏—𫓧¡ 2552 2551 2552 2551 ‡ß‘𠥄π¡◊Õ 664,554 1,288,544 659,000 1,276,544 ·§™‡™’¬√凙Á§ 20,801,246 9,419,008 20,801,246 9,419,008 ‡ß‘πΩ“°°√–· √“¬«—π 694,581 1,136,536 547,536 1,012,041 ‡ß‘πΩ“°ÕÕ¡∑√—æ¬å 4,515,199 28,308 4,513,194 26,314 ‡ß‘π≈ß∑ÿπ™—Ë«§√“« - ‡ß‘πΩ“°ª√–®” 3 ‡¥◊Õπ 186,127 221,453 138,642 175,274 - °Õß∑ÿπ‡ªî¥µ√“ “√Àπ’È∑’Ë¡’ ¿“æ§≈àÕß Ÿß 67,209 67,209 √«¡ 26,928,916 12,093,849 26,726,827 11,909,181

‡ß‘πΩ“°ÕÕ¡∑√—æ¬å‰¥â√—∫¥Õ°‡∫’Ȭ„πÕ—µ√“≈Õ¬µ—«µ“¡Õ—µ√“∑’Ë∏𓧓√°”Àπ¥ 7. ‘π∑√—æ¬å∑’Ë®”π”À√◊Õ®”πÕ߉«â‡ªìπÀ≈—°∑√—æ¬å§È”ª√–°—π ≥ «—π∑’Ë 31 ∏—𫓧¡ 2552 ·≈– 2551 ∫√‘…—∑·≈–∫√‘…—∑¬àÕ¬‰¥â®”π”À√◊Õ®”πÕß à«π„À≠à¢Õß∑’Ë¥‘πæ—≤π“‡æ◊ËÕ¢“¬ ·≈–∑’Ë¥‘π√Õ°“√æ—≤π“·≈–‡æ◊ËÕ¢“¬¥—ß°≈à“« „πÀ¡“¬‡Àµÿ 8 ´÷Ëß¡’¡Ÿ≈§à“ ÿ∑∏‘µ“¡∫—≠™’ ®”π«π 3,059.26 ≈â“π∫“∑ ·≈–®”π«π 3,093.01 ≈â“π∫“∑ µ“¡≈”¥—∫ (‡©æ“–∫√‘…—∑¡’®”π«π 2,983.45 ≈â“π∫“∑ ·≈–®”π«π 3,070.15 ≈â“π∫“∑ µ“¡≈”¥—∫) ·≈–∑’Ë¥‘π Õ“§“√·≈–Õÿª°√≥å à«π„À≠ॗ߰≈à“«„πÀ¡“¬‡Àµÿ 11 ´÷Ëß¡’¡Ÿ≈§à“ ÿ∑∏‘µ“¡∫—≠™’ ®”π«π 36.77 ≈â“π∫“∑ ·≈–®”π«π 37.57 ≈â“π∫“∑ µ“¡≈”¥—∫ (‡©æ“–∫√‘…—∑¡’®”π«π 36.77 ≈â“π∫“∑ ·≈–®”π«π 37.57 ≈â“π∫“∑ µ“¡≈”¥—∫) ‡æ◊ËÕ„™â‡ªìπÀ≈—°∑√—æ¬å§È”ª√–°—πÀπ’È ‘π∑’Ë¡µ’ àÕ ∂“∫—π°“√‡ß‘π¢Õß ∫√‘…—∑·≈–∫√‘…—∑¬àÕ¬ 8.  ‘π§â“§ß‡À≈◊Õ·≈–∑’Ë¥‘π√Õ°“√æ—≤π“·≈–‡æ◊ËÕ¢“¬ -  ÿ∑∏‘ 8.1 ∫—≠™’π’È ª√–°Õ∫¥â«¬ ∫“∑ ß∫°“√‡ß‘π√«¡ ß∫°“√‡ß‘π‡©æ“–∫√‘…—∑ ≥ «—π∑’Ë 31 ∏—𫓧¡ ≥ «—π∑’Ë 31 ∏—𫓧¡ 2552 2551 2552 2551 ∑’Ë¥‘π·≈–ß“π°àÕ √â“ßæ—≤π“‡æ◊ËÕ¢“¬ 2,868,074,951 3,113,136,316 2,803,430,676 3,030,296,929 ∑’Ë¥‘π√Õ°“√æ—≤π“·≈–‡æ◊ËÕ¢“¬ 1,866,887,319 1,798,810,551 1,839,976,485 1,776,654,909 ∫â“π·≈–∫â“πµ—«Õ¬à“ß 164,280,605 182,546,396 164,280,605 178,339,765 Õ“§“√™ÿ¥ 2,869,100 2,869,100 2,869,100 2,869,100 «— ¥ÿ°àÕ √â“ß 1,658,141 6,334,958 1,658,141 6,119,692 √«¡ 4,903,770,116 5,103,697,321 4,812,215,007 4,994,280,395 À—° §à“‡º◊ËÕ¡Ÿ≈§à“ ‘π§â“≈¥≈ß - ∫â“π·≈–∫â“πµ—«Õ¬à“ß (3,260,976) (3,260,976) (3,260,976) (3,260,976) - ∑’Ë¥‘π√Õ°“√æ—≤π“·≈–‡æ◊ËÕ¢“¬ (14,178,683) (14,178,683) (14,178,683) (14,178,683) √«¡ (17,439,659) (17,439,659) (17,439,659) (17,439,659)  ‘π§â“§ß‡À≈◊Õ- ÿ∑∏‘ 4,886,330,457 5,086,257,662 4,794,775,348 4,976,840,736

Annual Report 2009 M.K. Real Estate Development Plc.

53


„π√–À«à“ߪï 2552 ·≈– 2551 ∫√‘…—∑·≈–∫√‘…—∑¬àÕ¬´◊ÈÕ∑’Ë¥‘π®“°∫ÿ§§≈Õ◊Ëπ„π‡¢µ°√ÿ߇∑æ·≈–ª√‘¡≥±≈‚¥¬¡’«—µ∂ÿª√– ߧå„π°“√æ—≤π“Õ —ßÀ“√‘¡∑√—æ¬å ‡æ◊ËÕ¢“¬„πÕ𓧵 ®”π«π‡π◊ÈÕ∑’Ë 32,701.90 µ“√“ß«“ ‡ªìπ®”π«π‡ß‘π√«¡ 390.52 ≈â“π∫“∑ ·≈–®”π«π‡π◊ÈÕ∑’Ë 5,269.90 µ“√“ß«“ ‡ªìπ®”π«π‡ß‘π√«¡ 41.30 ≈â“π∫“∑ µ“¡≈”¥—∫ (‡©æ“–∫√‘…—∑ ®”π«π‡π◊ÈÕ∑’Ë 32,580.90 µ“√“ß«“ ‡ªìπ®”π«π‡ß‘π 387.41 ≈â“π∫“∑ ·≈–‡π◊ÈÕ∑’Ë 3,130.90 µ“√“ß«“ ‡ªìπ®”π«π‡ß‘π 33.13 ≈â“π∫“∑ µ“¡≈”¥—∫) ‚¥¬°√√¡ ‘∑∏‘Ï„π∑’Ë¥‘π¥—ß°≈à“«‚Õπ‡ªìπ¢Õß∫√‘…—∑·≈â«∑—ÈßÀ¡¥ §à“‡º◊ËÕ¡Ÿ≈§à“ ‘π§â“§ß‡À≈◊Õ≈¥≈ß ¡’°“√‡ª≈’ˬπ·ª≈ß„π√–À«à“ßªï ¥—ßπ’È ∫“∑ ß∫°“√‡ß‘π√«¡ ß∫°“√‡ß‘π‡©æ“–∫√‘…—∑ ≥ «—π∑’Ë 31 ∏—𫓧¡ ≥ «—π∑’Ë 31 ∏—𫓧¡ 2552 2551 2552 2551 §à“‡º◊ËÕ¡Ÿ≈§à“ ‘π§â“≈¥≈ß - ∫â“π·≈–∫â“πµ—«Õ¬à“ß ¬Õ¥§ß‡À≈◊Õ¬°¡“µâπªï 3,260,976 3,260,976 3,260,976 3,260,976 ∫«° µ—È߇æ‘Ë¡√–À«à“ߪï À—° ‚Õπ°≈—∫√“¬°“√√–À«à“ßªï ¬Õ¥§ß‡À≈◊Õ¬°‰ªª≈“¬ªï 3,260,976 3,260,976 3,260,976 3,260,976 - ∑’Ë¥‘π√Õ°“√æ—≤π“·≈–‡æ◊ËÕ¢“¬ ¬Õ¥§ß‡À≈◊Õ¬°¡“µâπªï 14,178,683 14,178,683 ∫«° µ—È߇æ‘Ë¡√–À«à“ߪï 14,178,683 14,178,683 À—° ‚Õπ°≈—∫√“¬°“√√–À«à“ßªï ¬Õ¥§ß‡À≈◊Õ¬°‰ªª≈“¬ªï 14,178,683 14,178,683 14,178,683 14,178,683 √«¡ 17,439,659 17,439,659 17,439,659 17,439,659 „πªï 2551 ∫√‘…—∑·≈–∫√‘…—∑¬àÕ¬‰¥â®—¥„À⺟âª√–‡¡‘π√“§“Õ‘ √–ª√–‡¡‘π¡Ÿ≈§à“¬ÿµ‘∏√√¡¢Õß°≈ÿà¡ ‘π§â“§ß‡À≈◊Õ¢Õß∫√‘…—∑·≈–∫√‘…—∑¬àÕ¬ ‚¥¬„™â«‘∏’‡ª√’¬∫‡∑’¬∫ √“§“µ≈“¥ (Market Approach) ∫√‘…—∑‰∑¬‡´Õ√å ‡«‡¬Õ√å ·Õπ¥å ·ÕÁ¥‰«∑凴Õ√å√’Ë ®”°—¥ ‡ªìπºŸâª√–‡¡‘π ≈à“ ÿ¥‡¡◊ËÕ‡¥◊Õπµÿ≈“§¡ 2551 æ∫«à“ ∑’Ë¥‘π√Õ°“√æ—≤π“ ·≈–‡æ◊ËÕ¢“¬∫“ß à«π¡’¡Ÿ≈§à“√“§“∑ÿπµË”°«à“¡Ÿ≈§à“ ÿ∑∏‘∑’Ë®–‰¥â√—∫ ΩÉ“¬∫√‘À“√®÷ßæ‘®“√≥“µ—Èß§à“‡º◊ËÕ¡Ÿ≈§à“ ‘π§â“≈¥≈ß®”π«π‡ß‘π 14.18 ≈â“π∫“∑ ·≈–∫—π∑÷° ‡ªìπ¢“¥∑ÿπ®“°°“√¥âÕ¬§à“¢Õß∑’Ë¥‘π√Õ°“√æ—≤π“„π à«π¢Õß§à“„™â®à“¬°“√∫√‘À“√„πß∫°”‰√¢“¥∑ÿπªï 2551  ‘π§â“§ß‡À≈◊Õ à«π„À≠à¢Õß∫√‘…—∑·≈–∫√‘…—∑¬àÕ¬ 𔉪§È”ª√–°—π°“√°Ÿâ¬◊¡‡ß‘π®“° ∂“∫—π°“√‡ß‘π ¥—ß∑’Ë°≈à“«‰«â„πÀ¡“¬‡Àµÿ¢âÕ 7 ∫√‘…—∑·≈–∫√‘…—∑¬àÕ¬‰¥â∫—π∑÷°¥Õ°‡∫’Ȭ∑’ˇ°’ˬ«¢âÕß à«πÀπ÷Ë߉«â‡ªìπ à«πÀπ÷ËߢÕß ‘π§â“§ß‡À≈◊Õ ¥—ßπ’È ∫“∑ ß∫°“√‡ß‘π√«¡ ß∫°“√‡ß‘π‡©æ“–∫√‘…—∑  ”À√—∫ªï ‘Èπ ÿ¥ «—π∑’Ë 31 ∏—𫓧¡  ”À√—∫ªï ‘Èπ ÿ¥ «—π∑’Ë 31 ∏—𫓧¡ 2552 2551 2552 2551 ¥Õ°‡∫’Ȭ∑’Ë∫—π∑÷°‡ªìπ à«πÀπ÷ËߢÕß ‘π§â“§ß‡À≈◊Õ - ∫√‘…—∑ 40,907,652 78,261,117 40,907,652 78,261,117 - ∫√‘…—∑¬àÕ¬ 1,024,087 659,119 41,931,739 78,920,236 40,907,652 78,261,117  ”À√—∫ªï ‘Èπ ÿ¥«—π∑’Ë 31 ∏—𫓧¡ 2552 ·≈– 2551 ∫√‘…—∑‰¥â∫—π∑÷°¥Õ°‡∫’Ȭ∑’ˇ°’ˬ«¢âÕ߉«â‡ªìπ à«πÀπ÷ËߢÕßµâπ∑ÿπæ—≤π“∑’Ë¥‘π ‚¥¬¡’Õ—µ√“°“√µ—Èߢ÷Èπ‡ªìπ∑ÿπ  ”À√—∫°“√§”π«≥¥Õ°‡∫’Ȭ ‡∑à“°—∫√âÕ¬≈– 6.87·≈–√âÕ¬≈– 7.63 µ“¡≈”¥—∫  ”À√—∫ªï ‘Èπ ÿ¥«—π∑’Ë 31 ∏—𫓧¡ 2552 ·≈– 2551 ∫√‘…—∑¬àÕ¬‰¥â∫—π∑÷°¥Õ°‡∫’Ȭ∑’ˇ°’ˬ«¢âÕß°—π‰«â‡ªìπ à«πÀπ÷ËߢÕßµâπ∑ÿπæ—≤π“∑’Ë¥‘π ´÷Ë߇ªìπµâπ∑ÿπ‡ß‘π°Ÿâ¬◊¡∑’Ë ‡°‘¥¢÷Èπ‚¥¬µ√ß°—∫‚§√ß°“√ 8.2 ¿“√–®“°°“√æ—≤𓂧√ß°“√∑’Ë¥”‡π‘πÕ¬Ÿà

®”π«π‚§√ß°“√∑’Ë¥”‡π‘π°“√Õ¬Ÿàµâπªï ®”π«π‚§√ß°“√∑’˪≈â« ®”π«π‚§√ß°“√∑’ˇªî¥„À¡à ®”π«π‚§√ß°“√∑’Ë¥”‡π‘π°“√Õ¬Ÿà ‘Èπªï ¡Ÿ≈§à“´◊ÈÕ¢“¬∑’ˉ¥â∑” —≠≠“·≈â«∑—Èß ‘Èπ(≈â“π∫“∑) §‘¥‡ªìπ√âÕ¬≈–¢Õ߬ե¢“¬√«¡¢Õß‚§√ß°“√∑’ˇªî¥¥”‡π‘π°“√Õ¬Ÿà

ß∫°“√‡ß‘π√«¡ ≥ «—π∑’Ë 31 ∏—𫓧¡ 2552 2551 20 19 2 1 22 20 14,547 12,206 74.63 70.53

ß∫°“√‡ß‘π‡©æ“–∫√‘…—∑ ≥ «—π∑’Ë 31 ∏—𫓧¡ 2552 2551 19 18 2 1 21 19 14,281 11,985 74.28 70.33

∫√‘…—∑·≈–∫√‘…—∑¬àÕ¬¡’¢âÕºŸ°æ—π∑’Ë®–µâÕß∑”°“√æ—≤𓂧√ß°“√„π à«π¢Õß “∏“√≥Ÿª‚¿§ à«π°≈“ß ≥ «—π∑’Ë 31 ∏—𫓧¡ 2552 ·≈– 2551 Õ’°‡ªìπ¡Ÿ≈§à“ 91.26 ≈â“π∫“∑ ·≈– 49.31 ≈â“π∫“∑ µ“¡≈”¥—∫ (‡©æ“–∫√‘…—∑¡’®”π«π 72.65 ≈â“π∫“∑ ·≈– 48.11 ≈â“π∫“∑ µ“¡≈”¥—∫)

54

√“¬ß“πª√–®”ªï 2552 ∫√‘…—∑ ¡—Ëπ§ß‡§À–°“√ ®”°—¥ (¡À“™π)


9.

‡ß‘π≈ß∑ÿπ„π∫√‘…—∑¬àÕ¬·≈–∫√‘…—∑√à«¡ ª√–‡¿∑¢Õß ∏ÿ√°‘®

«‘∏’ à«π‰¥â‡ ’¬ ∫√‘…—∑¬àÕ¬ ∫√‘…—∑ ·¡π§Õπ ®”°—¥ Õ —ßÀ“√‘¡∑√—æ¬å  ÿ∑∏‘ ∫√‘…—∑√à«¡ ∫√‘…—∑  “¡—§§’´’‡¡πµå ®”°—¥ Õÿµ “À°√√¡´’‡¡πµå Mancon Investment Group Company Limited ≈ß∑ÿπ ∫√‘…—∑ ∑√—æ¬åπ√ ‘ßÀå ®”°—¥ Õÿµ “À°√√¡∑√“¬ ∫√‘…—∑ ‰ŒøŸ≈ √—∫‡∫Õ√å ‚ª√¥—° å ®”°—¥ Õÿµ “À°√√¡ Jian Shi Development (Tianjin) Co., Ltd. ≈ß∑ÿπ √«¡ À—° §à“‡º◊ËÕ°“√¥âÕ¬§à“„π¡Ÿ≈§à“ ¢Õ߇ߑπ≈ß∑ÿπ„π∫√‘…—∑√à«¡  ÿ∑∏‘

ª√–‡¿∑¢Õß ∏ÿ√°‘® «‘∏’√“§“∑ÿπ ∫√‘…—∑¬àÕ¬ ∫√‘…—∑ ·¡π§Õπ ®”°—¥ Õ —ßÀ“√‘¡∑√—æ¬å ∫√‘…—∑√à«¡ ∫√‘…—∑  “¡—§§’´’‡¡πµå ®”°—¥ Õÿµ “À°√√¡´’‡¡πµå Mancon Investment Group Company Limited ≈ß∑ÿπ ∫√‘…—∑ ∑√—æ¬åπ√ ‘ßÀå ®”°—¥ Õÿµ “À°√√¡∑√“¬ ∫√‘…—∑ ‰ŒøŸ≈ √—∫‡∫Õ√å ‚ª√¥—° å ®”°—¥ Õÿµ “À°√√¡ Jian Shi Development (Tianjin) Co., Ltd. ≈ß∑ÿπ √«¡ À—° §à“‡º◊ËÕ°“√¥âÕ¬§à“„π¡Ÿ≈§à“ ¢Õ߇ߑπ≈ß∑ÿπ„π∫√‘…—∑√à«¡  ÿ∑∏‘

≈—°…≥– §«“¡ —¡æ—π∏å

∑ÿπ™”√–·≈â« (æ—π∫“∑) ≥ «—π∑’Ë 31 ∏—𫓧¡ 2552 2551

ß∫°“√‡ß‘π√«¡ ∂◊ÕÀÿâπ√âÕ¬≈– ≥ «—π∑’Ë 31 ∏—𫓧¡ 2552 2551

®”π«π‡ß‘π (∫“∑) ≥ «—π∑’Ë 31 ∏—𫓧¡ 2552 2551

ºŸâ∫√‘À“√√à«¡°—π

20,000

20,000

95.50

95.50

22,065,866 21,896,308 22,065,866 21,896,308

ºŸâ∫√‘À“√√à«¡°—π

185,000

185,000

40.64

40.64

123,557,481 127,758,062

ºŸâ∫√‘À“√√à«¡°—π ºŸâ∫√‘À“√√à«¡°—π °“√∂◊ÕÀÿâπ °“√∂◊ÕÀÿâπ∑“ßÕâÕ¡

6,650 18,000 53,253 -

6,650 18,000 53,253 -

49.00 36.07 7.05 49.00

49.00 36.07 7.05 49.00

10,181 10,181 4,353,290 4,388,912 1,606,239 1,760,507 129,527,191 133,917,662 (10,181) (10,181) 129,517,010 133,907,481

≈—°…≥– §«“¡ —¡æ—π∏å

ß∫°“√‡ß‘π‡©æ“–∫√‘…—∑ ∑ÿπ™”√–·≈â« (æ—π∫“∑) ∂◊ÕÀÿâπ√âÕ¬≈– ≥ «—π∑’Ë 31 ∏—𫓧¡ ≥ «—π∑’Ë 31 ∏—𫓧¡ 2552 2551 2552 2551

®”π«π‡ß‘π (∫“∑) ≥ «—π∑’Ë 31 ∏—𫓧¡ 2552 2551

ºŸâ∫√‘À“√√à«¡°—π

20,000

20,000

95.50

95.50

25,940,000 25,940,000

ºŸâ∫√‘À“√√à«¡°—π

185,000

185,000

40.64

40.64

133,757,000 133,757,000

ºŸâ∫√‘À“√√à«¡°—π ºŸâ∫√‘À“√√à«¡°—π °“√∂◊ÕÀÿâπ °“√∂◊ÕÀÿâπ∑“ßÕâÕ¡

6,650 18,000 53,253 -

6,650 18,000 53,253 -

49.00 36.07 5.00 49.00

49.00 36.07 5.00 49.00

10,181 10,181 6,492,600 6,492,600 2,836,492 2,836,492 143,096,273 143,096,273 (10,181) (10,181) 143,086,092 143,086,092

‡ß‘π≈ß∑ÿπ ”À√—∫ß∫°“√‡ß‘π‡©æ“–∫√‘…—∑ µ—Èß·µàªï 2550 ∫√‘…—∑‰¥â‡ª≈’ˬπ·ª≈ß«‘∏’°“√∫—π∑÷°∫—≠™’‡ß‘π≈ß∑ÿπ„π∫√‘…—∑¬àÕ¬·≈–∫√‘…—∑√à«¡„πß∫°“√‡ß‘π‡©æ“–∫√‘…—∑®“°«‘∏’ à«π‰¥â‡ ’¬‡ªìπ«‘∏’√“§“∑ÿπ ‡ß‘π≈ß∑ÿπ ”À√—∫ß∫°“√‡ß‘π√«¡ ß∫°“√‡ß‘π√«¡ ”À√—∫ªï ‘Èπ ÿ¥«—π∑’Ë 31 ∏—𫓧¡ 2552 ·≈– 2551 ∫√‘…—∑·≈–∫√‘…—∑¬àÕ¬¡’π‚¬∫“¬∫—π∑÷°‡ß‘π≈ß∑ÿπ„πÀÿâπ∑ÿπ¢Õß∫√‘…—∑√à«¡µ“¡«‘∏’ à«π‰¥â‡ ’¬ ‚¥¬ §”π«≥®“°ß∫°“√‡ß‘π¢Õß∫√‘…—∑√à«¡ ≥ «—π∑’Ë 31 ∏—𫓧¡ 2552 ·≈– 2551 ´÷Ëß®—¥∑”‚¥¬ΩÉ“¬∫√‘À“√ ‚¥¬¡’√“¬≈–‡Õ’¬¥¥—ßπ’È Àπ૬ : ≈â“π∫“∑  à«π·∫àß„πº≈°”‰√ (¢“¥∑ÿπ) °”‰√(¢“¥∑ÿπ) ÿ∑∏‘ Õ—µ√“√âÕ¬≈–¢Õß°”‰√ ÿ∑∏‘ „π∫√‘…—∑√à«¡  ”À√—∫ªï ‘Èπ ÿ¥ «—π∑’Ë 31 ∏—𫓧¡  ”À√—∫ªï ‘Èπ ÿ¥ «—π∑’Ë 31 ∏—𫓧¡  ”À√—∫ªï ‘Èπ ÿ¥ «—π∑’Ë 31 ∏—𫓧¡ 2552 2551 2552 2551 2552 2551 ∫√‘…—∑  “¡—§§’´’‡¡πµå ®”°—¥ (10.34) 6.29 (4.20) 2.56 (0.77) 0.63 ∫√‘…—∑ ∑√—æ¬åπ√ ‘ßÀå ®”°—¥ (0.99) 2.63 (0.04) 0.95 (0.01) 0.23 ∫√‘…—∑ ‰ŒøŸ≈ √—∫‡∫Õ√傪√¥—° å ®”°—¥ (3.09) (2.40) (0.15) (0.12) (0.03) (0.03) √«¡ (4.39) 3.39 (0.81) 0.83

Annual Report 2009 M.K. Real Estate Development Plc.

55


°“√‡ª≈’Ë¬π —¥ à«π°“√≈ß∑ÿπ„π∫√‘…—∑√à«¡ „πªï 2551 ∫√‘…—∑¡’ —¥ à«π‡ß‘π≈ß∑ÿπ„π∫√‘…—∑  “¡—§§’´’‡¡πµå ®”°—¥ ‡æ‘Ë¡¢÷Èπ®“°‡¥‘¡∂◊ÕÀÿâπ√âÕ¬≈– 40.26 ‡ªìπ√âÕ¬≈– 40.64 ‡π◊ËÕß®“°√—∫™”√–Àπ’È®“°≈Ÿ°Àπ’È°“√§â“ ‡ªìπÀÿâπ ®”π«π‡ß‘π 0.70 ≈â“π∫“∑ ‡ß‘π≈ß∑ÿπ„π∫√‘…—∑√à«¡∑’ËÕ¬Ÿàµà“ߪ√–‡∑» ‡ß‘π≈ß∑ÿπ„π∫√‘…—∑√à«¡∑’ËÕ¬Ÿàµà“ߪ√–‡∑»ª√–°Õ∫¥â«¬ Mancon Investment Group Co., Ltd. „™â«‘∏’ à«π‰¥â‡ ’¬„𰔉√À√◊Õ¢“¥∑ÿπ ÿ∑∏‘≈à“ ÿ¥ ‡æ’¬ß ≥ «—π∑’Ë 31 ∏—𫓧¡ 2548 ·≈–„πªï 2551 ∫√‘…∑— ‰¥â¡°’ “√µ—ßÈ §à“‡º◊ÕË ¡Ÿ≈§à“¢Õ߇ߑπ≈ß∑ÿπ≈¥≈ß∑—ßÈ À¡¥ ‡π◊ÕË ß®“°∫√‘…∑— ¥—ß°≈à“«‰¥âª¥î ¥”‡π‘π°“√·≈â« ·≈–∫√‘…∑— ‰ŒøŸ≈ √—∫‡∫Õ√傪√¥—° å ®”°—¥ „™â«‘∏’ à«π‰¥â‡ ’¬„𰔉√À√◊Õ¢“¥∑ÿπ≈à“ ÿ¥‡æ’¬ß ≥ «—π∑’Ë 31 ∏—𫓧¡ 2551 ´÷Ëßµ√«® Õ∫‚¥¬ºŸâ Õ∫∫—≠™’Õ◊Ëπ ´÷Ë߇ߑπ≈ß∑ÿπ¥—ß°≈à“«· ¥ßÕ¬Ÿà„πß∫°“√‡ß‘π√«¡ ≥ «—π∑’Ë 31 ∏—𫓧¡ 2552 ·≈– 2551 ‡ß‘π≈ß∑ÿπ„π∫√‘…—∑√à«¡¥—ß°≈à“«¢â“ßµâπ ≥ «—π∑’Ë «—π∑’Ë 31 ∏—𫓧¡ 2552 ·≈– 2551 ∫—≠™’‡ß‘π≈ß∑ÿπ„π∫√‘…—∑‡À≈à“π’È¡’®”π«π‡ß‘π√«¡ª√–¡“≥ 129.52 ≈â“π∫“∑ ·≈– 133.91 ≈â“π∫“∑ (§‘¥‡ªìπÕ—µ√“√âÕ¬≈– 2.16 ·≈–Õ—µ√“√âÕ¬≈– 2.17 ¢Õ߬ե ‘π∑√—æ¬å√«¡¢Õßß∫°“√‡ß‘π√«¡) µ“¡≈”¥—∫ 10. ‡ß‘π≈ß∑ÿπ√–¬–¬“«Õ◊Ëπ (‡ß‘π≈ß∑ÿπ∑—Ë«‰ª) ¢Õß°‘®°“√∑’ˇ°’ˬ«¢âÕß°—π - √“§“∑ÿπ ß∫°“√‡ß‘π√«¡ ∑ÿπ™”√–·≈â« (æ—π∫“∑) ∂◊ÕÀÿâπ√âÕ¬≈– ®”π«π‡ß‘π (æ—π∫“∑) ª√–‡¿∑¢Õß ≈—°…≥– ≥ «—π∑’Ë 31 ∏—𫓧¡ ≥ «—π∑’Ë 31 ∏—𫓧¡ ≥ «—π∑’Ë 31 ∏—𫓧¡ ∏ÿ√°‘® §«“¡ —¡æ—π∏å 2552 2551 2552 2551 2552 2551 ∫√‘…—∑  ‘π ÿ¢æ√ÁÕæ‡æÕ√åµ’È ®”°—¥ Õ —ßÀ“√‘¡∑√—æ¬å °“√∂◊ÕÀÿâπ 200,000 200,000 15.00 15.00 30,000 30,000 ∫√‘…—∑ À“¥„À≠àπ§√‘π∑√å ®”°—¥ Õ —ßÀ“√‘¡∑√—æ¬å °“√∂◊ÕÀÿâπ 191,500 191,500 6.03 6.03 11,548 11,548 ∫√‘…—∑ ¥Ÿ√“ø≈Õ√å ®”°—¥ Õÿµ “À°√√¡ °“√∂◊ÕÀÿâπ 55,000 55,000 15.26 15.26 8,395 8,395 ∫√‘…—∑ »ÿ¿“≈—¬Õ’ “π ®”°—¥ Õ —ßÀ“√‘¡∑√—æ¬å °“√∂◊ÕÀÿâπ 335,447 335,447 0.44 0.44 8,050 8,050 ∫√‘…—∑ ‰∑¬·ÕÁ¥«“π¥å ‡æππÕ≈ ‡∑§‚π‚≈¬’ ®”°—¥ Õÿµ “À°√√¡ °“√∂◊ÕÀÿâπ 67,200 67,200 4.65 4.65 3,125 3,125 ∫√‘…—∑ ¥’´’‡¡πµå ®”°—¥ Õÿµ “À°√√¡ °“√∂◊ÕÀÿâπ 12,500 12,500 19.75 19.75 2,469 2,469 √«¡ 861,647 861,647 63,587 63,587 À—° §à“‡º◊ËÕ¡Ÿ≈§à“≈¥≈ߢÕ߇ߑπ≈ß∑ÿπ (39,470) (39,470)  ÿ∑∏‘ 24,117 24,117

∫√‘…—∑ ‘π ÿ¢æ√ÁÕæ‡æÕ√åµ’È ®”°—¥ ∫√‘…—∑ À“¥„À≠àπ§√‘π∑√å ®”°—¥ ∫√‘…—∑ ¥Ÿ√“ø≈Õ√å ®”°—¥ ∫√‘…—∑ »ÿ¿“≈—¬Õ’ “π ®”°—¥ ∫√‘…—∑ ‰∑¬·ÕÁ¥«“π¥å ‡æππÕ≈ ‡∑§‚π‚≈¬’ ®”°—¥ ∫√‘…—∑ ¥’´’‡¡πµå ®”°—¥ √«¡ À—° §à“‡º◊ËÕ¡Ÿ≈§à“≈¥≈ߢÕ߇ߑπ≈ß∑ÿπ  ÿ∑∏‘

ª√–‡¿∑¢Õß ∏ÿ√°‘®

≈—°…≥– §«“¡ —¡æ—π∏å

Õ —ßÀ“√‘¡∑√—æ¬å Õ —ßÀ“√‘¡∑√—æ¬å Õÿµ “À°√√¡ Õ —ßÀ“√‘¡∑√—æ¬å

°“√∂◊ÕÀÿâπ °“√∂◊ÕÀÿâπ °“√∂◊ÕÀÿâπ °“√∂◊ÕÀÿâπ

Õÿµ “À°√√¡ Õÿµ “À°√√¡

°“√∂◊ÕÀÿâπ °“√∂◊ÕÀÿâπ

∑ÿπ™”√–·≈â« (æ—π∫“∑) ≥ «—π∑’Ë 31 ∏—𫓧¡ 2552 2551 200,000 200,000 191,500 191,500 55,000 55,000 335,447 335,447 67,200 12,500 861,647

67,200 12,500 861,647

ß∫°“√‡ß‘π‡©æ“–∫√‘…—∑ ∂◊ÕÀÿâπ√âÕ¬≈– ≥ «—π∑’Ë 31 ∏—𫓧¡ 2552 2551 15.00 15.00 6.03 6.03 13.55 13.55 0.44 0.44 4.65 19.75

4.65 19.75

®”π«π‡ß‘π (æ—π∫“∑) ≥ «—π∑’Ë 31 ∏—𫓧¡ 2552 2551 30,000 30,000 11,548 11,548 7,455 7,455 8,050 8,050 3,125 2,469 62,647 (39,470) 23,177

3,125 2,469 62,647 (39,470) 23,177

‡ß‘π≈ß∑ÿπ„πÀÿâπ∑ÿπ¢Õß°‘®°“√∑’ˇ°’ˬ«¢âÕß°—π· ¥ß‰«â„π√“§“∑ÿπ ≥ «—π∑’Ë 31 ∏—𫓧¡ 2552 ·≈– 2551 ·≈–¡Ÿ≈§à“ ÿ∑∏‘µ“¡∫—≠™’√«¡¢Õ߇ߑπ≈ß∑ÿπ„πÀÿâπ∑ÿπ ´÷Ëß∂◊Õ µ“¡ß∫°“√‡ß‘π∑’˵√«® Õ∫·≈⫧√—Èß≈à“ ÿ¥‡æ’¬ß ≥ «—π∑’Ë 31 ∏—𫓧¡ 2551 ∑’Ë¡’Õ¬Ÿà¡’®”π«π‡ß‘πµË”°«à“√“§“∑ÿπ√«¡ª√–¡“≥ 39.47 ≈â“π∫“∑ ·≈– 39.47 ≈â“π∫“∑ µ“¡≈”¥—∫ ΩÉ“¬∫√‘À“√‰¥âµ—Èß§à“‡º◊ËÕ¡Ÿ≈§à“≈¥≈ß®”π«π‡ß‘πª√–¡“≥ 39.47 ≈â“π∫“∑ ·≈– 39.47 ≈â“π∫“∑ µ“¡≈”¥—∫ ‚¥¬æ‘®“√≥“∂÷ß¡Ÿ≈§à“ ÿ∑∏‘µ“¡∫—≠™’ (∑’˵˔ °«à“∑ÿπ) ∑’˧“¥«à“‰¥â≈¥≈߇ªìπ°“√∂“«√

56

√“¬ß“πª√–®”ªï 2552 ∫√‘…—∑ ¡—Ëπ§ß‡§À–°“√ ®”°—¥ (¡À“™π)


11. ∑’Ë¥‘π Õ“§“√·≈–Õÿª°√≥å - ÿ∑∏‘ ∫—≠™’π’È ª√–°Õ∫¥â«¬ ß∫°“√‡ß‘π√«¡ (∫“∑) ¬Õ¥§ß‡À≈◊Õ ≥ «—π∑’Ë 31 ∏—𫓧¡ 2551  à«πß“π°‘®°“√ π“¡°Õ≈åø √“§“∑ÿπ - ∑’Ë¥‘π π“¡°Õ≈åø -  π“¡°Õ≈åø - §≈—∫‡Œâ“ å √«¡√“§“∑ÿπ À—° §à“‡ ◊ËÕ¡√“§“ – ¡ -  π“¡°Õ≈åø - §≈—∫‡Œâ“ å √«¡§à“‡ ◊ËÕ¡√“§“ – ¡  ÿ∑∏‘  à«πß“π°‘®°“√æ—≤π“Õ —ßÀ“√‘¡∑√—æ¬å √“§“∑ÿπ - ∑’Ë¥‘π ‚¡ √ - Õ“§“√·≈– ‘Ëߪ≈Ÿ° √â“ß - ¬“πæ“Àπ– - ‡§√◊ËÕß®—°√·≈–Õÿª°√≥å - ‡§√◊ËÕßµ°·µàßµ‘¥µ—Èß·≈–‡§√◊ËÕß„™â ”π—°ß“π √«¡√“§“∑ÿπ À—° §à“‡ ◊ËÕ¡√“§“ – ¡ - Õ“§“√·≈– ‘Ëߪ≈Ÿ° √â“ß - ¬“πæ“Àπ– - ‡§√◊ËÕß®—°√·≈–Õÿª°√≥å - ‡§√◊ËÕßµ°·µàßµ‘¥µ—Èß·≈–‡§√◊ËÕß„™â ”π—°ß“π √«¡§à“‡ ◊ËÕ¡√“§“ – ¡  ÿ∑∏‘ √«¡∑—Èß ‘Èπ

‡æ‘Ë¡¢÷Èπ

¬Õ¥§ß‡À≈◊Õ ≥ «—π∑’Ë 31 ∏—𫓧¡ 2552

Ŵŧ

487,415,227 209,262,251 118,278,528 814,956,006

-

-

487,415,227 209,262,251 118,278,528 814,956,006

(70,951,277) (47,180,228) (118,131,505) 696,824,501

(7,184,986) (5,924,858) (13,109,844)

-

(78,136,263) (53,105,086) (131,241,349) 683,714,657

76,112,629 61,403,624 28,582,519 56,801,388 42,350,430 265,250,590

111,653 3,464,250 1,440,747 3,410,997 8,427,647

(338,867) (1,677,109) (13,249) (115,086) (2,144,311)

76,112,629 61,176,410 30,369,660 58,228,886 45,646,341 271,533,926

(41,065,088) (25,139,971) (54,008,705) (36,450,598) (156,664,362) 108,586,228 805,410,729

(2,504,760) (1,644,576) (1,316,170) (2,765,845) (8,231,351)

264,975 1,589,623 13,247 115,082 1,982,927

(43,304,873) (25,194,924) (55,311,628) (39,101,361) (162,912,786) 108,621,140 792,335,797

ß∫°“√‡ß‘π‡©æ“–∫√‘…—∑ (∫“∑)

¬Õ¥§ß‡À≈◊Õ ≥ «—π∑’Ë 31 ∏—𫓧¡ 2551 à«πß“π°‘®°“√ π“¡°Õ≈åø √“§“∑ÿπ - ∑’Ë¥‘π π“¡°Õ≈åø -  π“¡°Õ≈åø - §≈—∫‡Œâ“ å √«¡√“§“∑ÿπ À—° §à“‡ ◊ËÕ¡√“§“ – ¡ -  π“¡°Õ≈åø - §≈—∫‡Œâ“ å √«¡§à“‡ ◊ËÕ¡√“§“ – ¡  ÿ∑∏‘  à«πß“π°‘®°“√æ—≤π“Õ —ßÀ“√‘¡∑√—æ¬å √“§“∑ÿπ - ∑’Ë¥‘π ‚¡ √ - Õ“§“√·≈– ‘Ëߪ≈Ÿ° √â“ß - ¬“πæ“Àπ– - ‡§√◊ËÕß®—°√·≈–Õÿª°√≥å - ‡§√◊ËÕßµ°·µàßµ‘¥µ—Èß·≈–‡§√◊ËÕß„™â ”π—°ß“π √«¡√“§“∑ÿπ À—° §à“‡ ◊ËÕ¡√“§“ – ¡ - Õ“§“√·≈– ‘Ëߪ≈Ÿ° √â“ß - ¬“πæ“Àπ– - ‡§√◊ËÕß®—°√·≈–Õÿª°√≥å - ‡§√◊ËÕßµ°·µàßµ‘¥µ—Èß·≈–‡§√◊ËÕß„™â ”π—°ß“π √«¡§à“‡ ◊ËÕ¡√“§“ – ¡  ÿ∑∏‘ √«¡∑—Èß ‘Èπ

‡æ‘Ë¡¢÷Èπ

¬Õ¥§ß‡À≈◊Õ ≥ «—π∑’Ë 31 ∏—𫓧¡ 2552

Ŵŧ

487,415,227 209,262,251 118,278,528 814,956,006

-

-

487,415,227 209,262,251 118,278,528 814,956,006

(70,951,277) (47,180,228) (118,131,505) 696,824,501

(7,184,986) (5,924,858) (13,109,844)

-

(78,136,263) (53,105,086) (131,241,349) 683,714,657

76,112,629 61,403,624 27,173,919 55,938,266 41,183,885 261,812,323

111,653 3,464,250 1,440,747 3,410,997 8,427,647

(338,867) (1,677,109) (13,249) (115,086) (2,144,311)

76,112,629 61,176,410 28,961,060 57,365,764 44,479,796 268,095,659

(41,065,088) (23,731,379) (53,149,596) (35,284,160) (153,230,223) 108,582,100 805,406,601

(2,504,760) (1,644,576) (1,314,924) (2,765,845) (8,230,105)

264,975 1,589,623 13,247 115,082 1,982,927

(43,304,873) (23,786,332) (54,451,273) (37,934,923) (159,477,401) 108,618,258 792,332,915

Annual Report 2009 M.K. Real Estate Development Plc.

57


≥ «—π∑’Ë 31 ∏—𫓧¡ 2552 ∫√‘…—∑·≈–∫√‘…—∑¬àÕ¬¡’√“§“∑ÿπ¢Õ߇§√◊ËÕß®—°√·≈–Õÿª°√≥å ‡§√◊ËÕßµ°·µàßµ‘¥µ—Èß·≈–‡§√◊ËÕß„™â ”π—°ß“π·≈–¬“πæ“Àπ–∑’˵—¥§à“‡ ◊ËÕ¡ √“§“À¡¥·≈â«·µà¬—ߧ߄™âß“πÕ¬Ÿà¡’®”π«π 51.67 ≈â“π∫“∑ 33.02 ≈â“π∫“∑ ·≈– 20.18 ≈â“π∫“∑ µ“¡≈”¥—∫ (‡©æ“–∫√‘…—∑ ¡’®”π«π 50.82 ≈â“π∫“∑ 31.85 ≈â“π∫“∑ ·≈– 18.77 ≈â“π∫“∑ µ“¡≈”¥—∫) ≥ «—π∑’Ë 31 ∏—𫓧¡ 2552 ·≈– 2551 ∫√‘…—∑¡’¬“πæ“Àπ–¿“¬„µâ —≠≠“‡™à“°“√‡ß‘π ¡’¡Ÿ≈§à“µ“¡∫—≠™’ ÿ∑∏‘ 1.23 ≈â“π∫“∑ ·≈– 1.91 ≈â“π∫“∑ µ“¡≈”¥—∫ ≥ «—π∑’Ë 31 ∏—𫓧¡ 2552 ·≈– 2551 ∫√‘…—∑·≈–∫√‘…—∑¬àÕ¬¡’ ∑’Ë¥‘π Õ“§“√ ·≈–Õÿª°√≥å à«π„À≠à®”π«π 36.76 ≈â“π∫“∑·≈– 37.57 ≈â“π∫“∑ µ“¡≈”¥—∫ (‡©æ“– ∫√‘…—∑¡’®”π«π 36.76 ≈â“π∫“∑·≈– 37.57 ≈â“π∫“∑ µ“¡≈”¥—∫ ) 𔉪§È”ª√–°—π‡ß‘π‡∫‘°‡°‘π∫—≠™’·≈–‡ß‘π°Ÿâ¬◊¡√–¬– —Èπ ·≈–°“√°Ÿâ¬◊¡‡ß‘π®“° ∂“∫—π°“√‡ß‘π¢Õß ∫√‘…—∑ ¥—ß∑’Ë°≈à“«‰«â„πÀ¡“¬‡Àµÿ¢âÕ 7 °“√‡ª≈’ˬπ·ª≈ßπ‚¬∫“¬°“√∫—≠™’‡°’ˬ«°—∫°“√∫—π∑÷°∫—≠™’∑’Ë¥‘π Õ“§“√·≈–Õÿª°√≥å ·≈– ‘∑∏‘°“√‡™à“∑’Ë¥‘πæ√âÕ¡Õ“§“√ „πªï 2551 ∫√‘…—∑¡’°“√‡ª≈’ˬπ·ª≈ßπ‚¬∫“¬°“√∫—≠™’‡°’ˬ«°—∫°“√∫—π∑÷°∫—≠™’∑’Ë¥‘π Õ“§“√·≈–Õÿª°√≥å ·≈– ‘∑∏‘°“√‡™à“∑’Ë¥‘πæ√âÕ¡Õ“§“√ (¥ŸÀ¡“¬‡Àµÿ¢âÕ 12) „πß∫°“√‡ß‘π√«¡·≈–ß∫°“√‡ß‘π‡©æ“–∫√‘…—∑®“°«‘∏’√“§“ª√–‡¡‘π (the revaluation method) ¡“‡ªìπ«‘∏’√“§“∑ÿπ (historical cost method) ´÷Ëß∫√‘…—∑‰¥â‡≈◊Õ°„™â«‘∏’√“§“ ª√–‡¡‘π¡“µ—Èß·µàªï 2542 ‡ªìπµâπ¡“ µàÕ¡“ ≥ ªí®®ÿ∫—ππ’È ΩÉ“¬∫√‘À“√¢Õß∫√‘…—∑‡™◊ËÕ«à“°“√‡≈◊Õ°„™â«‘∏’√“§“ª√–‡¡‘π (the revaluation method) „π°“√«—¥§à“∑’Ë¥‘π Õ“§“√·≈–Õÿª°√≥å ·≈– ‘∑∏‘°“√‡™à“∑’¥Ë π‘ æ√âÕ¡Õ“§“√¢Õß∫√‘…∑— π—πÈ ‰¡à®”‡ªìπÕ’°µàÕ‰ª·≈â« ¥â«¬‡Àµÿº≈∑’ Ë ∂“π–∑“ß°“√‡ß‘π¢Õß∫√‘…∑— ‰¥â‡ª≈’¬Ë π‰ª„π∑“ß∑’¥Ë ¢’ πÈ÷ Õ¬à“ß¡“° ®÷߉¡à¡’§«“¡®”‡ªìπ∑’Ë®–µâÕß· ¥ß à«π¢ÕߺŸâ∂◊ÕÀÿâπ∑’Ë‚µ¢÷Èπ¥â«¬ à«π‡°‘π∑ÿπ®“°°“√µ’√“§“ ‘π∑√—æ¬å„π°“√¥”√ßÕ—µ√“ à«πÀπ’È ‘πµàÕ∑ÿπ„π —¥ à«π∑’ˇÀ¡“– ¡Õ’°·≈â« πÕ°®“°π’È µ“¡¢âÕ¡Ÿ≈∑’Ë¡’Õ¬Ÿà„πªí®®ÿ∫—π∑”„ÀâΩÉ“¬∫√‘À“√‡ÀÁπ«à“°“√· ¥ß√“§“ª√–‡¡‘π‚¥¬ºŸâª√–‡¡‘πÕ‘ √–µ“¡«‘∏’·∫∫‡ª√’¬∫‡∑’¬∫√“§“µ≈“¥ (Market approach) ·≈–·∫∫µâπ∑ÿπ∑¥·∑π„À¡àÀ—°§à“‡ ◊ËÕ¡√“§“ (Depreciated Replacement cost)  ”À√—∫∑’Ë¥‘π π“¡°Õ≈åø·≈– ‘Ëߪ≈Ÿ° √â“ßπ—Èπ‰¡à “¡“√∂ –∑âÕπ√“§“¬ÿµ‘∏√√¡∑’Ë ‡À¡“– ¡‰¥â ¥â«¬‡Àµÿº≈∑’Ë™’È·®ß∑—Èß Õߪ√–°“√¢â“ßµâππ’È√«¡°—∫°“√∑’Ë¡“µ√∞“π°“√∫—≠™’©∫—∫∑’Ë 16 ‡√◊ËÕß ∑’Ë¥‘π Õ“§“√·≈–Õÿª°√≥å (ª√—∫ª√ÿß 2550) (©∫—∫ 32 ‡¥‘¡) °”Àπ¥„À⇪ìπ∑“߇≈◊Õ° 2 «‘∏’ ”À√—∫°“√«—¥§à“ ‰¥â·°à «‘∏’√“§“∑ÿπ (the historical cost method) ·≈–«‘∏’√“§“ª√–‡¡‘π (the revaluation method) ®÷߇ÀÁπ ¡§«√«à“ ∫√‘…—∑§«√‡ª≈’ˬπ·ª≈ßπ‚¬∫“¬∫—≠™’®“°«‘∏’°“√«—¥§à“∑’Ë¥‘π Õ“§“√·≈–Õÿª°√≥å ·≈– ‘∑∏‘°“√‡™à“∑’Ë¥‘πæ√âÕ¡Õ“§“√ ®“°«‘∏’√“§“ª√–‡¡‘π (the revaluation method) ¡“‡ªìπ«‘∏’√“§“∑ÿπ (the historical cost method) µ—Èß·µà‰µ√¡“ ∑’Ë 2 ªï 2551 ‡ªìπµâπ‰ª ∑—Èßπ’È°“√‡ª≈’ˬπ·ª≈ßπ‚¬∫“¬∫—≠™’¥—ß°≈à“«‰¥â√—∫°“√Õπÿ¡—µ‘·≈â«®“° °√√¡°“√¢Õß∫√‘…—∑‡¡◊ËÕ«—π∑’Ë 27 ¡‘∂ÿπ“¬π 2551 º≈®“°°“√ª√—∫ª√ÿß√“¬°“√∑“ß∫—≠™’¬âÕπÀ≈—ߥ—ß°≈à“« ¡’º≈„Àâ ‘π∑√—æ¬å√«¡·≈– à«π¢Õß ºŸâ∂◊ÕÀÿâπ¢Õßß∫°“√‡ß‘π √«¡·≈–ß∫°“√‡ß‘π‡©æ“–∫√‘…—∑≈¥≈ߥ⫬®”π«π‡¥’¬«°—π ≥ «—π∑’Ë 1 ¡°√“§¡ 2551 ·≈– 2550 ®”π«π 672,966,017 ∫“∑ ·≈–®”π«π 670,543,517 ∫“∑ µ“¡≈”¥—∫ 12.  ‘∑∏‘°“√‡™à“ -  ÿ∑∏‘ ∫—≠™’π’È ª√–°Õ∫¥â«¬ ß∫°“√‡ß‘π√«¡ / ß∫°“√‡ß‘π‡©æ“–∫√‘…—∑

¬Õ¥§ß‡À≈◊Õ ≥ «—π∑’Ë 31 ∏—𫓧¡ 2551 à«πß“π°‘®°“√„À⇙à“æ◊Èπ∑’Ë·≈–∫√‘°“√ √“§“∑ÿπ -  ‘∑∏‘°“√‡™à“ -  ‘∑∏‘°“√„™âÕ“§“√·≈– à«πª√—∫ª√ÿß∫π∑’Ë¥‘π‡™à“ √«¡√“§“∑ÿπ À—° §à“µ—¥®”Àπà“¬ – ¡ -  ‘∑∏‘°“√‡™à“ -  ‘∑∏‘°“√„™âÕ“§“√·≈– à«πª√—∫ª√ÿß∫π∑’Ë¥‘π‡™à“ √«¡§à“µ—¥®”Àπà“¬ – ¡  ÿ∑∏‘

‡æ‘Ë¡¢÷Èπ

(∫“∑)

¬Õ¥§ß‡À≈◊Õ ≥ «—π∑’Ë 31 ∏—𫓧¡ 2552

Ŵŧ

70,562,990 79,412,563 149,975,553

-

-

70,562,990 79,412,563 149,975,553

(48,136,259) (59,366,952) (107,503,211) 42,472,342

(2,187,974) (1,955,669) (4,143,643)

-

(50,324,233) (61,322,621) (111,646,854) 38,328,699

µ—Èß·µàªï 2529 ∫√‘…—∑‰¥â∑” —≠≠“°—∫®ÿÓ≈ß°√≥å¡À“«‘∑¬“≈—¬‡æ◊ËÕ‡™à“∑’Ë¥‘πÕ—π‡ªìπ∑’˵—ÈߢÕßÕ“§“√∑’Ë∑”°“√¢Õß∫√‘…—∑ µ“¡ —≠≠“‡™à“∫√‘…—∑µâÕß®à“¬§à“ ‘∑∏‘°“√‡™à“ ‡ªìπ‡ß‘π 65.8 ≈â“π∫“∑‚¥¬™”√–·≈â«„π«—π∑” —≠≠“ 2 ≈â“π∫“∑  à«π¬Õ¥§ß‡À≈◊Õ‰¥â· ¥ß√«¡‰«â‡ªìπ à«πÀπ÷ËߢÕßÀπ’È ‘π√–¬–¬“«„πß∫¥ÿ≈√«¡·≈–ß∫¥ÿ≈·∫àß ™”√–‡ªìπ√“¬ªïµ“¡°”À𥇫≈“‡™à“ §◊Õ 30 ªï π—∫®“°‡¥◊Õπ¡’π“§¡ 2532 πÕ°®“°π’È ∫√‘…—∑µâÕß‚Õπ°√√¡ ‘∑∏‘Ï„π ‘Ëߪ≈Ÿ° √â“ßµà“ßÊ ∫π∑’Ë¥‘ππ’È„Àⷰຟâ„Àâ‡™à“‡¡◊ËÕ §√∫√–¬–‡«≈“‡™à“„πªï 2562 ´÷Ë߇ªìπªï∑’˧√∫°”À𥵓¡‡ß◊ËÕπ‰¢„π —≠≠“‡™à“∑’Ë¥‘ππ’È 13  ‘π∑√—æ¬å‰¡à¡’µ—«µπ -  ÿ∑∏‘ ∫—≠™’π’È ª√–°Õ∫¥â«¬ ß∫°“√‡ß‘π√«¡ / ß∫°“√‡ß‘π‡©æ“–∫√‘…—∑

¬Õ¥§ß‡À≈◊Õ ≥ «—π∑’Ë 31 ∏—𫓧¡ 2551 √“§“∑ÿ𠂪√·°√¡§Õ¡æ‘«‡µÕ√å À—° §à“µ—¥®”Àπà“¬ – ¡ ‚ª√·°√¡§Õ¡æ‘«‡µÕ√å -  ÿ∑∏‘ 14. ‡ß‘πΩ“°∑’˵‘¥¿“√–§È”ª√–°—π ∫—≠™’π’È ª√–°Õ∫¥â«¬

3,350,814 (2,167,727) 1,183,087

‡æ‘Ë¡¢÷Èπ

(∫“∑)

¬Õ¥§ß‡À≈◊Õ ≥ «—π∑’Ë 31 ∏—𫓧¡ 2552

Ŵŧ

352,002 (649,017) (297,015)

-

3,702,816 (2,816,744) 886,072

∫“∑

‡ß‘πΩ“° - ª√–‡¿∑ÕÕ¡∑√—æ¬å ‡ß‘πΩ“° - ª√–‡¿∑ª√–®” 12 ‡¥◊Õπ √«¡

58

√“¬ß“πª√–®”ªï 2552 ∫√‘…—∑ ¡—Ëπ§ß‡§À–°“√ ®”°—¥ (¡À“™π)

ß∫°“√‡ß‘π√«¡ ≥ «—π∑’Ë 31 ∏—𫓧¡ 2552 2551 40,748,955 33,441,443 3,620,266 2,522,213 44,369,221 35,963,656

ß∫°“√‡ß‘π‡©æ“–∫√‘…—∑ ≥ «—π∑’Ë 31 ∏—𫓧¡ 2552 2551 40,745,187 33,441,443 3,620,266 2,522,213 44,365,453 35,963,656


‡ß‘πΩ“°ÕÕ¡∑√—æ¬å·≈–‡ß‘πΩ“°ª√–®”¥—ß°≈à“«¢â“ßµâπ¡’Õ—µ√“≈Õ¬µ—«µ“¡∑’Ë ∂“∫—π°“√‡ß‘π°”Àπ¥ ≥ «—π∑’Ë 31 ∏—𫓧¡ 2552 ·≈– 2551 ∫√‘…—∑·≈–∫√‘…—∑¬àÕ¬¡’‡ß‘πΩ“°ª√–‡¿∑ÕÕ¡∑√—æ¬å®”π«π 40.65 ≈â“π∫“∑ ·≈–®”π«π 33.16 ≈â“π∫“∑ µ“¡≈”¥—∫ (‡©æ“– ∫√‘…—∑ ¡’®”π«π 40.65 ≈â“π∫“∑ ·≈– 33.16 ≈â“π∫“∑ µ“¡≈”¥—∫) ·≈–‡ß‘πΩ“°ª√–®” 12 ‡¥◊Õπ ®”π«π 3.61 ≈â“π∫“∑ ·≈– ®”π«π 2.30 ≈â“π∫“∑ µ“¡≈”¥—∫ (‡©æ“–∫√‘…—∑ ¡’®”π«π 3.61 ≈â“π∫“∑ ·≈–®”π«π 2.30 ≈â“π∫“∑ µ“¡≈”¥—∫) µ‘¥¿“√–§È”ª√–°—π®“°°“√∑’Ë„Àâ∏𓧓√ÕÕ°Àπ—ß ◊էȔª√–°—π„Àâ·°àÀπ૬ߓπ √“™°“√‡æ◊ËÕ°àÕ √â“ßß“π “∏“√≥Ÿª‚¿§¿“¬„π‚§√ß°“√¢Õß∫√‘…—∑·≈–∫√‘…—∑¬àÕ¬ 15.  ‘π∑√—æ¬å‰¡àÀ¡ÿπ‡«’¬πÕ◊Ëπ -  ÿ∑∏‘ ∫—≠™’π’È ª√–°Õ∫¥â«¬ ∫“∑ ß∫°“√‡ß‘π√«¡ ß∫°“√‡ß‘π‡©æ“–∫√‘…—∑ ≥ «—π∑’Ë 31 ∏—𫓧¡ ≥ «—π∑’Ë 31 ∏—𫓧¡ 2552 2551 2552 2551 ¿“…’‡ß‘π‰¥â𑵑∫ÿ§§≈∂Ÿ°À—° ≥ ∑’Ë®à“¬ ‡ß‘π¡—¥®”·≈–‡ß‘π√—∫ª√–°—π 2,285,631 2,013,141 2,074,381 1,801,891 ∑’Ë¥‘π∑’ˉ¡à‰¥â„™â„π°“√¥”‡π‘πß“π 17,610,390 17,610,390 √«¡ 19,896,021 19,623,531 2,074,381 1,801,891 À—° §à“‡º◊ËÕ¡Ÿ≈§à“≈¥≈ߢÕß∑’Ë¥‘π (17,610,390) (17,610,390) √«¡ 2,285,631 2,013,141 2,074,381 1,801,891 ≥ «—π∑’Ë 31 ∏—𫓧¡ 2552 ·≈– 2551 ∫√‘…—∑¬àÕ¬¡’∑’Ë¥‘π∑’ˉ¡à‰¥â„™â„π°“√¥”‡π‘πß“π®”π«π‡ß‘π 17.61 ≈â“π∫“∑ (´÷Ëß√«¡‡ªìπ à«πÀπ÷ËߢÕß¡Ÿ≈§à“¥—ß°≈à“«∑’Ë∫√‘…—∑„À≠à ¢“¬„Àâ∫√‘…—∑¬àÕ¬¡’®”π«π‡ß‘π 6.15 ≈â“π∫“∑) ´÷Ë߇ªìπ∑’Ë¥‘πÕ¬Ÿà„π∫—ߧ—∫¿“√–®”¬Õ¡‡√◊ËÕß∂ππ·≈– “∏“√≥Ÿª‚¿§µà“ßÊ „π‚§√ß°“√¢Õß∫√‘…—∑„À≠à ®÷߇ªìπ‡Àµÿ„Àâ ∑’Ë¥‘π∑’˧√Õ∫§√Õß‚¥¬∫√‘…—∑¬àÕ¬π’È„π∑“ß°ÆÀ¡“¬π—Èπ‰¡à “¡“√∂‡¢â“‰ª„™âª√–‚¬™π凙‘߇»√…∞°‘®„π∑’Ë¥‘πº◊π¥—ß°≈à“«‚¥¬∫√‘…—∑¬àÕ¬‡Õ߉¥â ΩÉ“¬∫√‘À“√®÷ßæ‘®“√≥“ µ—Èß ”√Õ߇º◊ËÕ°“√¥âÕ¬§à“„πÕ—µ√“√âÕ¬≈–√âÕ¬„π∑—π∑’∑’ˉ¥â∑’Ë¥‘ππ’È¡“„πªï 2549 16. ‡ß‘π‡∫‘°‡°‘π∫—≠™’·≈–‡ß‘π°Ÿâ¬◊¡√–¬– —Èπ®“° ∂“∫—π°“√‡ß‘π ∫—≠™’π’È ª√–°Õ∫¥â«¬ ∫“∑ ß∫°“√‡ß‘π√«¡ ß∫°“√‡ß‘π‡©æ“–∫√‘…—∑ ≥ «—π∑’Ë 31 ∏—𫓧¡ ≥ «—π∑’Ë 31 ∏—𫓧¡ 2552 2551 2552 2551 ‡ß‘π‡∫‘°‡°‘π∫—≠™’ ∂“∫—π°“√‡ß‘π 639,889 7,077,779 639,889 6,823,075 ‡ß‘π°Ÿâ¬◊¡√–¬– —Èπ®“° ∂“∫—π°“√‡ß‘π 40,000,000 40,000,000 √«¡ 639,889 47,077,779 639,889 46,823,075 ≥ «—π∑’Ë 31 ∏—𫓧¡ 2552 ·≈– 2551 ∫√‘…—∑·≈–∫√‘…—∑¬àÕ¬¡’«ß‡ß‘π‡∫‘°‡°‘π∫—≠™’°—∫ ∂“∫—π°“√‡ß‘π„πª√–‡∑»À≈“¬·Ààß®”π«π‡ß‘π√«¡ 134 ≈â“π∫“∑ ·≈– 134 ≈â“π ∫“∑ µ“¡≈”¥—∫ (ß∫°“√‡ß‘π‡©æ“–∫√‘…—∑¡’ 132 ≈â“π∫“∑ ·≈– 132 ≈â“π∫“∑ µ“¡≈”¥—∫) ‚¥¬‡ ’¬¥Õ°‡∫’Ȭ„πÕ—µ√“¥Õ°‡∫’Ȭ¢—ÈπµË”¢Õ߇ߑπ‡∫‘°‡°‘π∫—≠™’ ‡ß‘π‡∫‘°‡°‘π∫—≠™’ ∂“∫—π°“√‡ß‘π§È”ª√–°—π‚¥¬ ‘π∑√—æ¬å∑’Ë®”π”À√◊Õ®”πÕ߉«â‡ªìπÀ≈—°∑√—æ¬å§È”ª√–°—π¥—ß°≈à“«‰«â„πÀ¡“¬‡Àµÿ¢âÕ 7 ·≈–ºŸâ∂◊ÕÀÿâπ∫“ß∑à“π ≥ «—π∑’Ë 31 ∏—𫓧¡ 2551 ∫√‘…—∑¡’«ß‡ß‘π°Ÿâ√–¬– —Èπ®“° ∂“∫—π°“√‡ß‘π·ÀàßÀπ÷Ëß„π√Ÿªµ—Ϋ —≠≠“„™â‡ß‘πÕ“¬ÿ 3 ‡¥◊Õπ ®”π«π 40 ≈â“π∫“∑ ‚¥¬‡ ’¬¥Õ°‡∫’Ȭ„πÕ—µ√“ √âÕ¬≈– 6.37 - 9.75 µàÕªï ‡ß‘π°Ÿâ¬◊¡√–¬– —Èπ §È”ª√–°—π‚¥¬ ‘π∑√—æ¬å∑’Ë®”π”À√◊Õ®”πÕ߉«â‡ªìπÀ≈—°∑√—æ¬å§È”ª√–°—π¥—ß°≈à“«‰«â„πÀ¡“¬‡Àµÿ¢âÕ 7 17. ‡ß‘π∑¥√Õß®“°°√√¡°“√ ∫—≠™’π’È ª√–°Õ∫¥â«¬ ∫“∑ ß∫°“√‡ß‘π√«¡ ß∫°“√‡ß‘π‡©æ“–∫√‘…—∑ ≥ «—π∑’Ë 31 ∏—𫓧¡ ≥ «—π∑’Ë 31 ∏—𫓧¡ 2552 2551 2552 2551 ¬Õ¥§ß‡À≈◊Õ¬°¡“µâπªï 35,825,824 16,685,041 35,825,824 16,607,772 ‡ß‘π∑¥√Õ߇æ‘Ë¡√–À«à“ߪï 23,646,200 40,765,898 23,646,200 39,055,048 ‡ß‘π∑¥√Õß∑’Ë®à“¬§◊π√–À«à“ߪï (32,925,055) (21,625,115) (32,925,055) (19,836,996) ¬Õ¥§ß‡À≈◊Õ¬°‰ªª≈“¬ªï 26,546,969 35,825,824 26,546,969 35,825,824 ‡ß‘π∑¥√Õß®“°°√√¡°“√‰¡à¡’°“√§‘¥¥Õ°‡∫’Ȭ·≈–∂÷ß°”Àπ¥®à“¬§◊π‡¡◊ËÕ∑«ß∂“¡

Annual Report 2009 M.K. Real Estate Development Plc.

59


18. ‡ß‘π°Ÿâ¬◊¡√–¬– —Èπ®“°∫ÿ§§≈¿“¬πÕ° ∫—≠™’π’È ª√–°Õ∫¥â«¬ ∫“∑

¬Õ¥§ß‡À≈◊Õ¬°¡“µâπªï ‡ß‘π°Ÿâ√–¬– —Èπ‡æ‘Ë¡√–À«à“ßªï ‡ß‘π°Ÿâ√–¬– —Èπ®à“¬§◊π√–À«à“ßªï ¬Õ¥§ß‡À≈◊Õ¬°‰ªª≈“¬ªï

ß∫°“√‡ß‘π√«¡ ≥ «—π∑’Ë 31 ∏—𫓧¡ 2552 2551 10,000,000 10,000,000 (4,000,000) 6,000,000 10,000,000

ß∫°“√‡ß‘π‡©æ“–∫√‘…—∑ ≥ «—π∑’Ë 31 ∏—𫓧¡ 2552 2551 10,000,000 10,000,000 (4,000,000) 6,000,000 10,000,000

≥ «—π∑’Ë 31 ∏—𫓧¡ 2552 ·≈– 2551 ∫√‘…—∑¡’µ—Ϋ —≠≠“„™â‡ß‘π°—∫∫ÿ§§≈¿“¬πÕ°§‘¥¥Õ°‡∫’Ȭ՗µ√“√âÕ¬≈– 8 µàÕªï ·≈–°”Àπ¥®à“¬§◊π‡¡◊ËÕ∑«ß∂“¡ 19. Àπ’È ‘πÀ¡ÿπ‡«’¬πÕ◊Ëπ ∫—≠™’π’È ª√–°Õ∫¥â«¬ ∫“∑ ß∫°“√‡ß‘π√«¡ ß∫°“√‡ß‘π‡©æ“–∫√‘…—∑ ≥ «—π∑’Ë 31 ∏—𫓧¡ ≥ «—π∑’Ë 31 ∏—𫓧¡ 2552 2551 2552 2551 √“¬‰¥â√—∫≈à«ßÀπâ“®“°≈Ÿ°§â“ ¬Õ¥§ß‡À≈◊Õ¬°¡“µâπªï 88,621,042 58,123,969 86,302,099 54,192,488 ‡æ‘Ë¡√–À«à“ߪï 315,093,429 493,289,357 254,873,511 359,452,815 ≈¥≈ß√–À«à“ߪï (335,303,074) (462,792,284) (273,774,214) (327,343,204) ¬Õ¥§ß‡À≈◊Õ¬°‰ªª≈“¬ªï 68,411,397 88,621,042 67,401,396 86,302,099 ‡ß‘πª√–°—πº≈ß“π ¬Õ¥§ß‡À≈◊Õ¬°¡“µâπªï 47,758,153 43,954,462 45,745,959 42,515,456 ‡æ‘Ë¡√–À«à“ߪï 16,075,376 18,483,753 15,876,430 17,638,302 ≈¥≈ß√–À«à“ߪï (15,952,254) (14,680,062) (14,704,056) (14,407,799) ¬Õ¥§ß‡À≈◊Õ¬°‰ªª≈“¬ªï 47,881,275 47,758,153 46,918,333 45,745,959 ‡ß‘π√—∫≈à«ßÀπâ“- “∏“√≥Ÿª‚¿§ ¬Õ¥§ß‡À≈◊Õ¬°¡“µâπªï 91,076,270 76,052,200 88,382,174 75,159,760 ‡æ‘Ë¡√–À«à“ߪï 27,483,477 26,959,230 26,670,525 25,157,574 ≈¥≈ß√–À«à“ߪï (20,916,929) (11,935,160) (20,843,489) (11,935,160) ¬Õ¥§ß‡À≈◊Õ¬°‰ªª≈“¬ªï 97,642,818 91,076,270 94,209,210 88,382,174 ¥Õ°‡∫’Ȭ§â“ß®à“¬ 165,862 1,039,401 157,577 1,039,401 §à“„™â®à“¬§â“ß®à“¬ 26,976,131 25,590,600 26,940,131 25,554,600 ¿“…’À—° ≥ ∑’Ë®à“¬√Õπ” àß 20,122,656 20,807,631 20,110,553 20,736,860 Õ◊ËπÊ 12,631,218 13,818,207 12,299,778 13,499,725 √«¡ 273,831,357 288,711,304 268,036,978 281,260,818 20. Àπ’È ‘π√–¬–¬“« -  ÿ∑∏‘ ∫—≠™’π’È ª√–°Õ∫¥â«¬ ∫“∑

‡ß‘π°Ÿâ¬◊¡®“° ∂“∫—π°“√‡ß‘π ‡ß‘π°Ÿâ¬◊¡∑’Ë¡’°“√ª√—∫‚§√ß √â“ßÀπ’È·≈â« §à“ ‘∑∏‘°“√‡™à“°”Àπ¥™”√–‡ªìπ√“¬ªï ®π∂÷߇¥◊Õπ¡’π“§¡ 2561 (À¡“¬‡Àµÿ 12) √«¡ À—°  à«π∑’Ë∂÷ß°”Àπ¥™”√–¿“¬„πÀπ÷Ëߪï Àπ’È ‘π√–¬–¬“« -  ÿ∑∏‘

60

√“¬ß“πª√–®”ªï 2552 ∫√‘…—∑ ¡—Ëπ§ß‡§À–°“√ ®”°—¥ (¡À“™π)

ß∫°“√‡ß‘π√«¡ ≥ «—π∑’Ë 31 ∏—𫓧¡ 2552 2551 468,065,496 797,702,346 225,952,530 319,495,758

ß∫°“√‡ß‘π‡©æ“–∫√‘…—∑ ≥ «—π∑’Ë 31 ∏—𫓧¡ 2552 2551 438,419,496 797,702,346 225,952,530 319,495,758

27,550,000 721,568,026 (16,894,663) 704,673,363

27,550,000 691,922,026 (16,894,663) 675,027,363

30,250,000 1,147,448,104 (108,844,428) 1,038,603,676

30,250,000 1,147,448,104 (108,844,428) 1,038,603,676


Àπ’È ‘π√–¬–¬“« ¡’°“√‡ª≈’ˬπ·ª≈ß„π√–À«à“ßªï ¥—ßπ’È ∫“∑

¬Õ¥§ß‡À≈◊Õ¬°¡“µâπªï °Ÿâ¬◊¡‡æ‘Ë¡√–À«à“ßªï ®à“¬™”√–§◊π√–À«à“ßªï ¬Õ¥§ß‡À≈◊Õ¬°‰ªª≈“¬ªï

ß∫°“√‡ß‘π√«¡ ≥ «—π∑’Ë 31 ∏—𫓧¡ 2552 2551 1,147,448,104 1,536,447,513 649,626,945 866,551,734 (1,075,507,023) (1,255,551,143) 721,568,026 1,147,448,104

ß∫°“√‡ß‘π‡©æ“–∫√‘…—∑ ≥ «—π∑’Ë 31 ∏—𫓧¡ 2552 2551 1,147,448,104 1,479,421,113 619,980,945 843,552,734 (1,075,507,023) (1,175,525,743) 691,922,026 1,147,448,104

≥ «—π∑’Ë 31 ∏—𫓧¡ 2552 ·≈– 2551 ∫√‘…—∑¡’«ß‡ß‘π°Ÿâ¬◊¡®“° ∂“∫—π°“√‡ß‘π„πª√–‡∑»À≈“¬·Ààß®”π«π 2,302.59 ≈â“π∫“∑ ·≈– 2,925.07 ≈â“π∫“∑ µ“¡≈”¥—∫ ‡ß‘π °Ÿâ¬◊¡®“° ∂“∫—π°“√‡ß‘π§È”ª√–°—π‚¥¬ ‘π∑√—æ¬å∑’Ë®”π”À√◊Õ®”πÕ߉«â‡ªìπÀ≈—°∑√—æ¬å§È”ª√–°—π¥—ß∑’Ë°≈à“«‰«â„πÀ¡“¬‡Àµÿ 7 ·≈–‚¥¬ºŸâ∂◊ÕÀÿâπ∫“ß∑à“π ¿“¬„µâ —≠≠“ ‡ß‘π°Ÿâ ∫√‘…—∑‡ ’¬¥Õ°‡∫’Ȭ‡ß‘π°Ÿâ¬◊¡√–¬–¬“«®“°∏𓧓√„πÕ—µ√“ MLR (Õ—µ√“√âÕ¬≈– 4.85-9.75 µàÕªï ·≈– 5.75-8.00 µàÕªï µ“¡≈”¥—∫) ∫√‘…—∑µâÕß®à“¬™”√–§◊π‡ß‘π°Ÿâ ¬◊¡π’ȇ¡◊ËÕ‰¥â√—∫™”√–‡ß‘π®“°≈Ÿ°§â“ ≥ «—π‚Õπ°√√¡ ‘∑∏‘ÏÕ —ßÀ“√‘¡∑√—æ¬å∑’Ë¢“¬„Àâ°—∫≈Ÿ°§â“ Õ¬à“߉√°Áµ“¡∫√‘…—∑‰¡à‰¥âª√–¡“≥°“√¬Õ¥‡ß‘π°Ÿâ¬◊¡∑’˧“¥«à“®–µâÕß®à“¬ ™”√–¿“¬„πÀπ÷Ëߪï‡æ◊ËÕ®—¥ª√–‡¿∑‡ªìπÀπ’È ‘πÀ¡ÿπ‡«’¬π„πß∫¥ÿ≈ ≥ «—π∑’Ë 31 ∏—𫓧¡ 2552 ·≈– 2551  ”À√—∫‡ß‘π°Ÿâ„π à«ππ’È ‡ß‘π°Ÿâ¬◊¡∑’˪√—∫‚§√ß √â“ßÀπ’È·≈â« ª√–°Õ∫¥â«¬ ∫“∑ ß∫°“√‡ß‘π√«¡·≈– ß∫°“√‡ß‘π‡©æ“–∫√‘…—∑ ≥ «—π∑’Ë 31∏—𫓧¡ 2552 Õ—µ√“¥Õ°‡∫’Ȭ ‡ß◊ËÕπ‰¢°“√™”√– 2552 2551 ∏𓧓√æ“≥‘™¬å„πª√–‡∑»·ÀàßÀπ÷Ëß 225,952,530 310,920,585 MLR ºàÕπ™”√–·µà≈–ß«¥µ“¡Õ—µ√“ à«π¢Õ߬ե¢“¬ ·≈–µâÕß™”√–„À⇠√Á® ‘Èπ¿“¬„πªï 2554 ∏𓧓√æ“≥‘™¬å„πª√–‡∑»·ÀàßÀπ÷Ëß 8,575,173 ªï∑’Ë 1-3 , 5% ºàÕπ™”√–·µà≈–ß«¥µ“¡Õ—µ√“ à«π¢Õ߬ե¢“¬ ªï∑’Ë 4 ‡ªìπµâπ‰ª MLR ·≈–µâÕß™”√–„À⇠√Á® ‘Èπ¿“¬„π‡¡…“¬π 2552 225,952,530 319,495,758 Àπ’ È π‘ µ“¡ —≠≠“ª√—∫ª√ÿß‚§√ß √â“ßÀπ’¢È “â ßµâπ §È”ª√–°—π‚¥¬°√√¡°“√∫“ß∑à“π·≈– ‘π∑√—æ¬å∑®Ë’ ”π”À√◊Õ®”πÕ߉«â‡ªìπÀ≈—°∑√—æ¬å§”È ª√–°—πµ“¡∑’°Ë ≈à“«‰«â„πÀ¡“¬‡Àµÿ 7 ·≈– 11 ¿“¬„µâ¢âÕ°”Àπ¥¢Õß —≠≠“ ∫√‘…—∑®–µâÕߪؑ∫—µ‘µ“¡‡ß◊ËÕπ‰¢¢Õß —≠≠“Õ¬à“߇§√àߧ√—¥ 21. ‡®â“Àπ’ȇ™à“´◊ÈÕ- ÿ∑∏‘ ‡®â“Àπ’ȇ™à“´◊ÈÕ ∫—≠™’π’Ȫ√–°Õ∫¥â«¬ ∫“∑ ß∫°“√‡ß‘π√«¡·≈–ß∫°“√‡ß‘π‡©æ“–∫√‘…—∑ ≥ «—π∑’Ë 31 ∏—𫓧¡ 2552 ≥ «—π∑’Ë 31 ∏—𫓧¡ 2551 ‡ß‘πµâπ ¥Õ°‡∫’Ȭ√Õµ—¥ ¬Õ¥™”√– ‡ß‘πµâπ ¥Õ°‡∫’Ȭ√Õµ—¥ ¬Õ¥™”√– ∂÷ß°”Àπ¥°“√®à“¬™”√–¿“¬„πÀπ÷Ëߪï 432,296 22,629 454,925 683,619 57,659 741,278 ∂÷ß°”Àπ¥°“√®à“¬™”√– À≈—ß®“°Àπ÷Ëßªï·µà‰¡à‡°‘πÀ⓪ï 164,002 6,482 170,484 596,298 29,111 625,409 √«¡ 596,298 29,111 625,409 1,279,917 86,770 1,366,687 ∫√‘…—∑‰¥â∑” —≠≠“‡™à“´◊ÈÕ°—∫ ∂“∫—π°“√‡ß‘πÀ≈“¬·Àà߇æ◊ËÕ´◊ÈÕ¬“πæ“Àπ– ‚¥¬¡’°”Àπ¥™”√–§à“‡™à“´◊ÈÕ‡ªìπ√“¬‡¥◊Õπ¿“¬„π√–¬–‡«≈“ 2 - 4 ªï ¿“¬„µâ‡ß◊ËÕπ‰¢¢Õß  —≠≠“¥—ß°≈à“«¢â“ßµâπ ∫√‘…—∑®–µâÕߪؑ∫—µ‘µ“¡‡ß◊ËÕπ‰¢·≈–¢âÕ®”°—¥µà“ßÊ ∑’Ë°”À𥉫â„π —≠≠“¥—ß°≈à“« ‡®â“Àπ’ȵ“¡ —≠≠“‡™à“´◊ÈÕ à«π∑’Ë∂÷ß°”Àπ¥™”√–¿“¬„πÀπ÷Ëߪⷠ¥ß‰«â„π à«π¢ÕßÀπ’È ‘πÀ¡ÿπ‡«’¬π„πß∫¥ÿ≈ 22.  ”√Õßµ“¡°ÆÀ¡“¬ /  ”√ÕßÀÿâπ∑ÿπ´◊ÈÕ§◊π 22.1  ”√Õßµ“¡°ÆÀ¡“¬ µ“¡∫∑∫—≠≠—µ‘¢Õßæ√–√“™∫—≠≠—µ‘∫√‘…—∑¡À“™π ®”°—¥ æ.». 2535 ∫√‘…—∑µâÕß®—¥ √√∑ÿπ ”√ÕßÕ¬à“ßπâÕ¬√âÕ¬≈– 5 ¢Õß°”‰√ ÿ∑∏‘ª√–®”ªïÀ≈—ß®“°À—°¢“¥∑ÿπ  – ¡¬°¡“ (∂â“¡’) ®π°«à“∑ÿπ ”√Õߥ—ß°≈à“« ®–¡’®”π«π‰¡àπâÕ¬°«à“√âÕ¬≈– 10 ¢Õß∑ÿπ®¥∑–‡∫’¬π ∑ÿπ ”√Õßµ“¡°ÆÀ¡“¬π’È®–𔉪®à“¬‡ß‘πªíπº≈‰¡à‰¥â ∫√‘…—∑‰¥â®—¥ √√∑ÿπ ”√Õßµ“¡°ÆÀ¡“¬§√∫√âÕ¬≈– 10 ¢Õß∑ÿπ®¥∑–‡∫’¬π·≈â«

Annual Report 2009 M.K. Real Estate Development Plc.

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22.2 ”√ÕßÀÿâπ∑ÿπ´◊ÈÕ§◊π °“√‡§≈◊ËÕπ‰À«¢Õß ”√ÕßÀÿâπ∑ÿπ´◊ÈÕ§◊π ”À√—∫ªï ‘Èπ ÿ¥«—π∑’Ë 31 ∏—𫓧¡ 2552 ·≈– 2551 ª√–°Õ∫¥â«¬√“¬≈–‡Õ’¬¥¥—ßπ’È (¥ŸÀ¡“¬‡Àµÿ¢âÕ 23 ‡æ‘Ë¡‡µ‘¡) ∫“∑ ß∫°“√‡ß‘π√«¡ ß∫°“√‡ß‘π‡©æ“–∫√‘…—∑ ≥ «—π∑’Ë 31 ∏—𫓧¡ ≥ «—π∑’Ë 31 ∏—𫓧¡ 2552 2551 2552 2551 ¬Õ¥µâπªï ‡æ‘Ë¡¢÷Èπ√–À«à“ߪﮓ° ”√ÕßÀÿâπ∑ÿπ´◊ÈÕ§◊π 11,548,084 11,548,084 ¬Õ¥ª≈“¬ªï 11,548,084 11,548,084 23. Àÿâπ∑ÿπ´◊ÈÕ§◊π/°”‰√ – ¡®—¥ √√ ”À√—∫Àÿâπ∑ÿπ´◊ÈÕ§◊𠵓¡¡µ‘∑’˪√–™ÿ¡«‘ “¡—≠ºŸâ∂◊ÕÀÿâπ §√—Èß∑’Ë 1/2551 ‡¡◊ËÕ«—π∑’Ë 19 ¡°√“§¡ 2552 ¡’¡µ‘Õπÿ¡—µ‘„Àâ´◊ÈÕÀÿâπ§◊π‡æ◊ËÕ∫√‘À“√∑“ß°“√‡ß‘π¢Õß∫√‘…—∑ „π«ß‡ß‘π‰¡à‡°‘π 95 ≈â“π∫“∑ ‚¥¬®–´◊ÈÕÀÿâπ∑ÿπ§◊π‡ªìπ®”π«π 85 ≈â“πÀÿâπ À√◊Õ§‘¥‡ªìπ√âÕ¬≈– 9.81 ¢ÕßÀÿâπ∑’ËÕÕ°·≈–®”Àπà“¬‰¥â·≈â«∑—ÈßÀ¡¥¢Õß∫√‘…—∑ ‚¥¬°”Àπ¥√–¬–‡«≈“°“√´◊ÈÕÀÿâπ§◊πµ—Èß·µà«—π∑’Ë 3 °ÿ¡¿“æ—π∏å 2552 ∂÷ß«—π∑’Ë 2  ‘ßÀ“§¡ 2552 ·≈–°”Àπ¥√–¬–‡«≈“®”Àπà“¬Àÿâπ∑ÿπ´◊ÈÕ§◊π µ—Èß·µà«—π∑’Ë 3 °ÿ¡¿“æ—π∏å 2553 ∂÷ß«—π∑’Ë 3  ‘ßÀ“§¡ 2555 (¿“¬À≈—ß 6 ‡¥◊Õππ—∫·µà °“√´◊ÈÕÀÿâπ§◊π‡ √Á® ‘Èπ ·µàµâÕ߉¡à‡°‘π 3 ªï) „π°√≥’∑’Ë∫√‘…—∑®”Àπà“¬Àÿâπ∑ÿπ´◊ÈÕ§◊π‰¡àÀ¡¥¿“¬„π√–¬–‡«≈“∑’Ë°”Àπ¥ ∫√‘…—∑®–≈¥∑ÿπ∑’ËÕÕ°·≈–™”√–·≈â«≈ß ‚¥¬«‘∏’µ—¥Àÿâπ∑ÿπ ∑’Ë´◊ÈÕ§◊π·≈–¬—߉¡à‰¥â®”Àπà“¬∑’ˇÀ≈◊ÕÕ¬Ÿà µ“¡®¥À¡“¬¢Õß ”π—°ß“π§≥–°√√¡°“√°”°—∫À≈—°∑√—æ¬å·≈–µ≈“¥À≈—°∑√—æ¬å∑’Ë °≈µ.™ . («) 2/2548 ≈ß«—π∑’Ë 14 °ÿ¡¿“æ—π∏å 2548 ‡°’ˬ«°—∫°“√´◊ÈÕÀÿâπ§◊π«à“∫√‘…—∑ ¡À“™π®”°—¥®–´◊ÈÕÀÿâπ§◊π‰¥â‰¡à‡°‘π«ß‡ß‘𰔉√ – ¡ ·≈–„Àâ∫√‘…—∑µâÕß°—𰔉√ – ¡‰«â‡ªìπ‡ß‘π ”√Õ߇∑à“°—∫®”π«π‡ß‘π∑’ˉ¥â®à“¬´◊ÈÕÀÿâπ§◊π®π°«à“®–¡’°“√®”Àπà“¬Àÿâπ´◊ÈÕ §◊π‰«âÀ¡¥ À√◊Õ≈¥∑ÿπ∑’Ë™”√–·≈â«‚¥¬«‘∏’µ—¥Àÿâπ´◊ÈÕ§◊π∑’Ë®”Àπà“¬‰¡àÀ¡¥ ·≈â«·µà°√≥’ ≥ «—π∑’Ë 31 ∏—𫓧¡ 2552 ∫√‘…—∑‰¥â®—¥ √√°”‰√ – ¡‡ªìπ ”√Õß ”À√—∫Àÿâπ´◊ÈÕ§◊π‡µÁ¡ ®”π«π·≈â« 24. ‡ß‘πªíπº≈ „π°“√ª√–™ÿ¡§≥–°√√¡°“√∫√‘…—∑ §√—Èß∑’Ë 3/2552 ‡¡◊ËÕ«—π∑’Ë 13  ‘ßÀ“§¡ 2552 ¡’¡µ‘Õπÿ¡—µ‘°“√®à“¬‡ß‘πªíπº≈√–À«à“ß°“≈®“°º≈°“√¥”‡π‘πß“π  ”À√—∫ß«¥À°‡¥◊Õπ  ‘Èπ ÿ¥«—π∑’Ë 30 ¡‘∂ÿπ“¬π 2552 „πÕ—µ√“Àÿâπ≈– 0.10 ∫“∑ ®”π«πÀÿâπ∑—ÈßÀ¡¥ 860,384,157 Àÿâπ (Àÿâπ∑—ÈßÀ¡¥ 866,684,157 Àÿâπ À—°Àÿâπ∑ÿπ´◊ÈÕ§◊π 6,300,000 Àÿâπ) √«¡‡ªìπ‡ß‘π 86,038,415.70 ∫“∑ ·≈–°”Àπ¥®à“¬‡ß‘πªíπº≈√–À«à“ß°“≈¥—ß°≈à“«¿“¬„π«—π∑’Ë 11 °—𬓬π 2552 Õ¬à“߉√°Áµ“¡ ∫√‘…—∑¡‘‰¥â®à“¬‡ß‘πªíπº≈®”π«π 5,170.00 ∫“∑ „Àⷰຟâ ∂◊ÕÀÿâπ∫“ß√“¬ ‡π◊ËÕß®“°¢“¥§ÿ≥ ¡∫—µ‘  à«π‡ß‘πªíπº≈∑’ˇÀ≈◊Õ ®”π«π 86,033,245.70 ∫“∑ ∫√‘…—∑‰¥â®à“¬‰ª·≈â«„π√–À«à“ßªï „π°“√ª√–™ÿ¡ºŸâ∂◊ÕÀÿâπ “¡—≠ª√–®”ªï§√—Èß∑’Ë 1/2552 ‡¡◊ËÕ«—π∑’Ë 29 ‡¡…“¬π 2552 ºŸâ∂◊ÕÀÿâπ¡’¡µ‘∑’Ë ”§—≠¥—ßπ’È ¡’¡µ‘„Àâ®à“¬‡ß‘πªíπº≈ª√–®”ªï ”À√—∫º≈°“√¥”‡π‘πß“πµ—Èß·µà«—π∑’Ë 1 ¡°√“§¡ 2551 ∂÷ß«—π∑’Ë 31 ∏—𫓧¡ 2551 „Àⷰຟâ∂◊ÕÀÿâπ´÷Ëß¡’™◊ËÕ„π ¡ÿ¥∑–‡∫’¬πºŸâ∂◊ÕÀÿâπ ≥ «—π ∑’Ë 8 ‡¡…“¬π 2552 ‚¥¬°“√®à“¬‡ß‘πªíπº≈®“°°”‰√ ÿ∑∏‘ ”À√—∫º≈ª√–°Õ∫°“√ªï 2551 „πÕ—µ√“Àÿπâ ≈– 0.15 ∫“∑ ®”π«πÀÿπâ ∑—ßÈ À¡¥ 866,034,157 Àÿπâ (Àÿπâ ∑—ßÈ À¡¥ 866,684,157 Àÿâπ À—°Àÿâπ∑ÿπ´◊ÈÕ§◊π 650,000 Àÿâπ) √«¡‡ªìπ‡ß‘π 129,905,123.55 ∫“∑ ·≈–°”Àπ¥®à“¬‡ß‘πªíπº≈„π«—π»ÿ°√å∑’Ë 29 情¿“§¡ 2552 Õ¬à“߉√°Áµ“¡ ∫√‘…—∑¡‘‰¥â®à“¬‡ß‘πªíπº≈ ®”π«π 7,755.00 ∫“∑ „Àⷰຟâ∂◊ÕÀÿâπ∫“ß√“¬ ‡π◊ËÕß®“°¢“¥§ÿ≥ ¡∫—µ‘  à«π‡ß‘πªíπº≈∑’ˇÀ≈◊Õ ®”π«π 129,897,368.55 ∫“∑ ∫√‘…—∑‰¥â®à“¬‰ª·≈â«„π√–À«à“ßªï „π°“√ª√–™ÿ¡ºŸâ∂◊ÕÀÿâπ “¡—≠ª√–®”ªï§√—Èß∑’Ë 1/2551 ‡¡◊ËÕ«—π∑’Ë 29 ‡¡…“¬π 2551 ºŸâ∂◊ÕÀÿâπ¡’¡µ‘∑’Ë ”§—≠¥—ßπ’È ¡’¡µ‘„Àâ®à“¬‡ß‘πªíπº≈ª√–®”ªï ”À√—∫º≈°“√¥”‡π‘πß“πµ—Èß·µà«—π∑’Ë 1 ¡°√“§¡ 2550 ∂÷ß«—π∑’Ë 31 ∏—𫓧¡ 2550 „Àⷰຟâ∂◊ÕÀÿâπ´÷Ëß¡’™◊ËÕ„π ¡ÿ¥∑–‡∫’¬πºŸâ∂◊ÕÀÿâπ ≥ «—π∑’Ë 8 ‡¡…“¬π 2551 ‡«≈“ 12.00 π. µ—Èß·µà À¡“¬‡≈¢Àÿâπ∑’Ë 1 ∂÷߇≈¢∑’Ë 866,684,157 ‚¥¬°“√®à“¬‡ß‘πªíπº≈®“°°”‰√ ÿ∑∏‘ ”À√—∫º≈ª√–°Õ∫°“√ªï 2550 „πÕ—µ√“Àÿâπ≈– 0.14 ∫“∑ ®”π«πÀÿâπ∑—ÈßÀ¡¥ 866,684,157 Àÿâπ √«¡‡ªìπ‡ß‘π 121,335,781.98 ∫“∑ ·≈–°”Àπ¥®à“¬‡ß‘πªíπº≈„π«—π»ÿ°√å∑’Ë 29 情¿“§¡ 2551 Õ¬à“߉√°Áµ“¡ ∫√‘…—∑¡‘‰¥â®à“¬‡ß‘πªíπº≈ ®”π«π 8,638.00 ∫“∑ „Àⷰຟâ∂◊ÕÀÿâπ∫“ß√“¬ ‡π◊ËÕß®“°¢“¥§ÿ≥ ¡∫—µ‘  à«π‡ß‘πªíπº≈∑’ˇÀ≈◊Õ ®”π«π‡ß‘π 121,327,143.98 ∫“∑ ∫√‘…—∑‰¥â®à“¬‰ª·≈â«„π√–À«à“ߪï 25. ‡°≥±å°“√§”π«≥¿“…’‡ß‘π‰¥â ∫√‘…—∑·≈–∫√‘…—∑¬àÕ¬§”π«≥¿“…’‡ß‘π‰¥â‚¥¬„™â‡°≥±å°“√√—∫√Ÿâ√“¬‰¥â·≈–§à“„™â®à“¬ „À⇪ìπ‰ªµ“¡ª√–¡«≈√—…Æ“°√°”Àπ¥·≈–µ“¡§” —Ëß°√¡ √√æ“°√∑’Ë ª.61/2539 ‡√◊ËÕß°“√§”π«≥°”‰√ ÿ∑∏‘·≈–‡ß‘π‰¥â ÿ∑∏‘ ”À√—∫°‘®°“√¢“¬Õ —ßÀ“√‘¡∑√—æ¬å´÷Ëß®–·µ°µà“߉ª®“°À≈—°°“√∫—≠™’∑’ˇ≈◊Õ°ªØ‘∫—µ‘„π∫“ß°√≥’‰¥â·°à°“√√—∫√Ÿâ√“¬‰¥â®“°°“√¢“¬ Õ —ßÀ“√‘¡∑√—æ¬å·≈–µâπ∑ÿπ¢“¬ „πªï 2551 ∫√‘…—∑‰¥â‡≈◊Õ°„™â«‘∏’°“√§”π«≥¿“…’‡ß‘π‰¥â„π‚§√ß°“√∑’ˇªî¥„πÀ√◊ÕÀ≈—ߪï 2550 ‚¥¬„™â‡°≥±å°“√√—∫√Ÿâ√“¬‰¥â ·≈–§à“„™â®à“¬ ∑—Èßπ’ȇæ◊ËÕ„À⇪ìπ‰ªµ“¡§” —Ëß °√¡ √√æ“°√∑’Ë ∑.ª. 155/2549 ‡√◊ËÕß°“√„™â‡°≥±å ‘∑∏‘„π°“√§”π«≥√“¬‰¥â·≈–√“¬®à“¬¢Õß∫√‘…—∑À√◊ÕÀâ“ßÀÿâπ à«π𑵑∫ÿ§§≈ ´÷Ëß°”Àπ¥„Àâ “¡“√∂‡≈◊Õ°√—∫√Ÿâ√“¬‰¥âµ“¡ Õ—µ√“ à«π¢Õßß“π∑’Ë∑”‡ √Á®‰¥â ´÷Ë߇ªìπÀ≈—°‡°≥±å‡¥’¬«°—∫∑“ß∫—≠™’ ¥—ß¡’√“¬≈–‡Õ’¬¥µàÕ‰ªπ’È π‚¬∫“¬∫—≠™’ °“√√—∫√Ÿâ√“¬‰¥â·≈–µâπ∑ÿπ¢“¬

62

√“¬ß“πª√–®”ªï 2552 ∫√‘…—∑ ¡—Ëπ§ß‡§À–°“√ ®”°—¥ (¡À“™π)

∑“ß¿“…’ ‚§√ß°“√∑’ˇªî¥„πÀ√◊ÕÀ≈—ߪï 2550 - √—∫√Ÿâ√“¬‰¥âµ“¡Õ—µ√“ à«π¢Õßß“π∑’Ë∑”‡ √Á® ‚§√ß°“√∑’ˇªî¥°àÕπªï 2550 - √—∫√Ÿâ√“¬‰¥âµ“¡§à“ß«¥∑’Ë∂÷ß°”Àπ¥™”√– (ª.61/2539) - °“√√—∫√Ÿâ√“¬‰¥âµ“¡§à“ß«¥∑’Ë∂÷ß°”Àπ¥™”√– ‰¥â√—∫¬°‡«âπ®“°°“√ª√—∫‚§√ß √â“ßÀπ’È (µ“¡æ√–√“™°ƒ…Æ’°“œ (©∫—∫∑’Ë 433) æ.».2548) - √“¬‰¥â®“°°“√¢“¬∑’Ë¡’√“§“ª√–‡¡‘π Ÿß°«à“√“§“¢“¬

∑“ß∫—≠™’ √—∫√Ÿâ√“¬‰¥âµ“¡Õ—µ√“ à«π¢Õßß“π∑’Ë∑”‡ √Á®


∫“∑ ß∫°“√‡ß‘π√«¡ «—π∑’Ë 31 ∏—𫓧¡ 2552 771,819,879 (8,437,944) 5,242,100 802,386 (2,393,458) (10,925,353) 758,501,068

ß∫°“√‡ß‘π‡©æ“–∫√‘…—∑ «—π∑’Ë 31 ∏—𫓧¡ 2552 750,013,166 (8,437,944) 5,242,100 802,386 (2,393,458) (10,892,469) 736,727,239

°”‰√ ÿ∑∏‘°àÕπÀ—°¿“…’‡ß‘π‰¥â∑“ß∫—≠™’ ∫«° √“¬‰¥â®“°°“√¢“¬µ“¡ ª.61/2539 √“¬‰¥â®“°°“√¢“¬∑’Ë¡’√“§“ª√–‡¡‘π Ÿß°«à“√“§“¢“¬ √“¬°“√∫«°°≈—∫∑“ß¿“…’ À—° √“¬°“√À—°ÕÕ°∑“ß¿“…’ °”‰√ ÿ∑∏‘°àÕπÀ—°¿“…’‡ß‘π‰¥â∑“ß¿“…’ À—° ¿“…’‡ß‘π‰¥â𑵑∫ÿ§§≈ ∫√‘…—∑ Õ—µ√“√âÕ¬≈– 25 ( ”À√—∫ à«π∑’Ë¡’°”‰√‰¡à‡°‘π “¡√âÕ¬≈â“π∫“∑) (75,000,000) (75,000,000) Õ—µ√“√âÕ¬≈– 30 (131,018,172) (131,018,172) (µ“¡æ√–√“™°ƒ…Æ’°“ ©∫—∫∑’Ë 475/2551  ‘Èπ ÿ¥ªï 2553) ∫√‘…—∑¬àÕ¬ Õ—µ√“√âÕ¬≈– 30 (6,532,149) °”‰√ ÿ∑∏‘À≈—ßÀ—°¿“…’‡ß‘π‰¥â∑“ß¿“…’ 545,950,747 530,709,067 26. ‡§√◊ËÕß¡◊Õ∑“ß°“√‡ß‘π ≥ «—π∑’Ë 31 ∏—𫓧¡ 2552 ·≈– 2551 ∫√‘…—∑·≈–∫√‘…—∑¬àÕ¬‰¡à¡’π‚¬∫“¬∑’Ë®–ª√–°Õ∫∏ÿ√°√√¡ µ√“ “√∑“ß°“√‡ß‘π∑’ˇªìπµ√“ “√Õπÿæ—π∏å‡æ◊ËÕ°“√‡°Áß°”‰√À√◊Õ‡æ◊ËÕ °“√§â“ §«“¡‡ ’ˬߥâ“π ¿“æ§≈àÕß §«“¡‡ ’¬Ë ߥâ“π ¿“æ§≈àÕ߇°‘¥®“°ªí≠À“„π°“√‡æ‘¡Ë ∑ÿπ„Àâ¡®’ ”π«π‡æ’¬ßæÕ·≈–∑—π‡«≈“‡æ◊ÕË ®à“¬™”√–Àπ’ È ”À√—∫¿“√–ºŸ°æ—πµ“¡∑’°Ë ”À𥉫â„πß∫°“√‡ß‘π ®“°°“√ ª√–‡¡‘π∞“π–∑“ß°“√‡ß‘π·≈–º≈°“√¥”‡π‘πß“π °√–· ‡ß‘π ¥√«¡∑—Èߪ√–¡“≥°“√¢âÕ¡Ÿ≈∑“ß°“√‡ß‘π¢Õß∫√‘…—∑·≈–∫√‘…—∑¬àÕ¬·≈–‡©æ“–∫√‘…—∑ ¢âÕ¡Ÿ≈‡À≈à“π’È™’È„Àâ ‡ÀÁπ«à“∫√‘…—∑·≈–∫√‘…—∑¬àÕ¬·≈–‡©æ“–∫√‘…—∑‰¡à¡’ªí≠À“§«“¡‡ ’ˬߥâ“π ¿“æ§≈àÕß §«“¡‡ ’ˬߥâ“π°“√„Àâ ‘π‡™◊ËÕ §«“¡‡ ’¬Ë ߥâ“π°“√„Àâ π‘ ‡™◊ÕË ‡°‘¥®“°°“√∑’§Ë  àŸ ≠ — ≠“‰¡à “¡“√∂ À√◊Õ‰¡àª√– ß§å®–ªØ‘∫µ— µ‘ “¡¢âÕµ°≈ß∑’„Ë À≫â°∫— ∫√‘…∑— ·≈–/À√◊Õ∫√‘…∑— ¬àÕ¬ ∫√‘…∑— ·≈–∫√‘…∑— ¬àÕ¬·≈– ‡©æ“–∫√‘…—∑‰¥â¡’π‚¬∫“¬„π°“√ªÑÕß°—𧫓¡‡ ’ˬßπ’È‚¥¬°“√«‘‡§√“–Àå∞“π–∑“ß°“√‡ß‘π¢Õß≈Ÿ°§â“ «‘∏’°“√®”°—¥«ß‡ß‘π ‘π‡™◊ËÕ·≈–°“√µ‘¥µ“¡°“√Õπÿ¡—µ‘«ß‡ß‘π ‘π‡™◊ËÕ °“√°”Àπ¥„Àâ¡’À≈—°∑√—æ¬å·≈–∫ÿ§§≈§È”ª√–°—π„π°√≥’≈Ÿ°Àπ’ȉ¡à “¡“√∂ªØ‘∫—µ‘µ“¡ —≠≠“ ·≈–‚¥¬°“√‚Õ𧫓¡‡ ’Ë¬ß °“√„Àâ ‘π‡™◊ËÕ„Àâ·°à ∂“∫—π°“√‡ß‘π‚¥¬µ√ß ¥—ߪ√“°Ø„πß∫¥ÿ≈¢Õß∫√‘…—∑·≈–∫√‘…—∑¬àÕ¬ ·≈–‡©æ“–∫√‘…—∑ ª√“°Ø«à“‰¡à¡’§«“¡‡ ’ˬߥâ“π°“√„Àâ ‘π‡™◊ËÕ·°à≈Ÿ°Àπ’È°“√§â“·µàÕ¬à“ß„¥ §«“¡‡ ’ˬ߮“°Õ—µ√“¥Õ°‡∫’Ȭ §«“¡‡ ’¬Ë ß®“°Õ—µ√“¥Õ°‡∫’¬È π’‡È °‘¥¢÷πÈ ®“°§«“¡º—πº«π¢ÕßÕ—µ√“¥Õ°‡∫’¬È „πµ≈“¥„πÕ𓧵 ´÷ßË ®– àߺ≈°√–∑∫µàÕº≈°“√¥”‡π‘πß“π·≈–°√–· ‡ß‘π ¥¢Õß∫√‘…∑— ·≈– ∫√‘…—∑¬àÕ¬·≈–‡©æ“–∫√‘…—∑ ∫√‘…—∑·≈–∫√‘…—∑¬àÕ¬·≈–‡©æ“–∫√‘…—∑¡’§«“¡‡ ’ˬ߮“°Õ—µ√“¥Õ°‡∫’Ȭ‡π◊ËÕß®“°¡’‡ß‘πΩ“°∏𓧓√ ‡ß‘π°Ÿâ¬◊¡  —≠≠“‡™à“∑“ß°“√‡ß‘π ·≈–≈Ÿ°Àπ’ȇߑπ„Àâ°Ÿâ¬◊¡·°à∫√‘…—∑∑’ˇ°’ˬ«¢âÕß°—π Õ¬à“߉√°Áµ“¡ ‡ß‘πΩ“°∏𓧓√·≈–‡ß‘π°Ÿâ¬◊¡·≈–≈Ÿ°Àπ’ȇߑπ„Àâ°Ÿâ¬◊¡·°à∫√‘…—∑∑’ˇ°’ˬ«¢âÕß°—π ¡’Õ—µ√“¥Õ°‡∫’Ȭª√—∫¢÷Èπ≈ß µ“¡Õ—µ√“µ≈“¥ (Floating interest rate) ∫√‘…—∑·≈–∫√‘…—∑¬àÕ¬·≈–‡©æ“–∫√‘…—∑®÷ß¡‘‰¥â„™âµ√“ “√Õπÿæ—π∏å∑“ß°“√‡ß‘π‡æ◊ËÕªÑÕß°—𧫓¡‡ ’ˬߥ—ß°≈à“« §«“¡‡ ’ˬ߮“°Õ—µ√“·≈°‡ª≈’ˬπ (Foreign Currency Risk) ∫√‘…—∑·≈–∫√‘…—∑¬àÕ¬·≈–‡©æ“–∫√‘…—∑‰¡à¡’§«“¡‡ ’ˬ߮“°Õ—µ√“·≈°‡ª≈’ˬπ‡ß‘πµ√“µà“ߪ√–‡∑»‚¥¬µ√ß ‡π◊ËÕß®“°‰¡à¡’√“¬°“√§â“∑’ˇªìπ °ÿ≈‡ß‘πµà“ߪ√–‡∑» ¡Ÿ≈§à“¬ÿµ‘∏√√¡¢Õß ‘π∑√—æ¬å·≈–Àπ’È ‘π∑“ß°“√‡ß‘π ¡Ÿ≈§à“¬ÿµ∏‘ √√¡ À¡“¬∂÷ß ®”π«π‡ß‘π∑’ºË ´âŸ ÕÈ◊ ·≈–ºŸ¢â “¬µ°≈ß·≈°‡ª≈’¬Ë π°—π„π¢≥–∑’∑Ë ßÈ—  ÕßΩÉ“¬¡’§«“¡√Õ∫√Ÿ·â ≈–‡µÁ¡„®„π°“√·≈°‡ª≈’¬Ë π·≈– “¡“√∂µàÕ√Õß√“§“°—𠉫âÕ¬à“߇ªìπÕ‘ √–„π≈—°…≥–¢ÕߺŸâ∑’ˉ¡à¡’§«“¡‡°’ˬ«¢âÕß°—π ¡Ÿ≈§à“¬ÿµ‘∏√√¡‰¥â¡“®“°√“§“µ≈“¥∑’Ë°”Àπ¥°√–· ‡ß‘𠥧‘¥≈¥À√◊Õ¡Ÿ≈§à“¢Õß ‘π∑√—æ¬å ÿ∑∏‘·≈â«·µà §«“¡‡À¡“– ¡ ∫√‘…—∑„™â«‘∏’°“√·≈– ¡¡µ‘∞“π¥—ßµàÕ‰ªπ’È„π°“√ª√–¡“≥¡Ÿ≈§à“¬ÿµ‘∏√√¡¢Õß ‘π∑√—æ¬å·≈–Àπ’È ‘π∑“ß°“√‡ß‘π ‡ß‘π ¥·≈–√“¬°“√‡∑’¬∫‡∑à“‡ß‘π ¥ ≈Ÿ°Àπ’·È ≈–‡®â“Àπ’È ·≈–‡ß‘π‡∫‘°‡°‘π∫—≠™’∏𓧓√·≈–‡ß‘π°Ÿ¬â ¡◊ √–¬– —πÈ ®“° ∂“∫—π°“√‡ß‘π¡’√“§“µ“¡∫—≠™’„°≈⇧’¬ß°—∫¡Ÿ≈§à“¬ÿµ∏‘ √√¡ ‡π◊ËÕß®“°‡§√◊ËÕß¡◊Õ∑“ß°“√‡ß‘π‡À≈à“π’È®–§√∫°”Àπ¥„π√–¬–‡«≈“Õ—π —Èπ ‡ß‘π°Ÿâ¬◊¡√–¬–¬“«∑’Ë¡’Õ—µ√“¥Õ°‡∫’Ȭ≈Õ¬µ—«´÷Ë߇ªìπÕ—µ√“∑âÕßµ≈“¥ ¡’√“§“µ“¡∫—≠™’„°≈⇧’¬ß°—∫¡Ÿ≈§à“¬ÿµ‘∏√√¡

Annual Report 2009 M.K. Real Estate Development Plc.

63


27. °”‰√µàÕÀÿâπ °”‰√µàÕÀÿâπ¢—Èπæ◊Èπ∞“π§”π«≥‚¥¬°“√À“√°”‰√ ÿ∑∏‘ à«π∑’ˇªìπ¢ÕߺŸâ∂◊ÕÀÿâπ∫√‘…—∑„À≠à ”À√—∫ªï¥â«¬®”π«πÀÿâπ “¡—≠∂—«‡©≈’ˬ∂à«ßπÈ”Àπ—°∑’Ë∂◊Õ‚¥¬∫ÿ§§≈¿“¬πÕ°∑’Ë ÕÕ°Õ¬Ÿà„π√–À«à“ßªï ®”π«πÀÿâπ “¡—≠∂—«‡©≈’ˬ∂à«ßπÈ”Àπ—°§”π«≥‚¥¬ ÿ∑∏‘®“°Àÿâπ “¡—≠´◊ÈÕ§◊π∑’Ë∂◊Õ‚¥¬∫√‘…—∑µ“¡∑’Ë°≈à“«‰«â„πÀ¡“¬‡Àµÿª√–°Õ∫ß∫°“√‡ß‘π¢âÕ 23 ∫“∑ Àÿπâ ∫“∑µàÕÀÿâπ °”‰√ (¢“¥∑ÿπ)  ÿ∑∏‘ ®”π«πÀÿâπ “¡—≠∂—«‡©≈’ˬ∂à«ßπÈ”Àπ—° °”‰√ (¢“¥∑ÿπ) µàÕÀÿâπ  ”À√—∫ªï ‘Èπ ÿ¥«—π∑’Ë 31 ∏—𫓧¡  ”À√—∫ªï ‘Èπ ÿ¥«—π∑’Ë 31 ∏—𫓧¡  ”À√—∫ªï ‘Èπ ÿ¥«—π∑’Ë 31 ∏—𫓧¡ 2552 2551 2552 2551 2552 2551 ß∫°“√‡ß‘π√«¡ °”‰√µàÕÀÿâπ¢—Èπæ◊Èπ∞“π ®”π«πÀÿâπ “¡—≠ 863,424,783 866,684,157 °”‰√ ÿ∑∏‘ 539,774,082 404,262,989 0.63 0.47 ∫“∑ °”‰√ (¢“¥∑ÿπ)  ÿ∑∏‘  ”À√—∫ªï ‘Èπ ÿ¥«—π∑’Ë 31 ∏—𫓧¡ 2552 2551

æ—πÀÿâπ ®”π«πÀÿâπ “¡—≠∂—«‡©≈’ˬ∂à«ßπÈ”Àπ—°  ”À√—∫ªï ‘Èπ ÿ¥«—π∑’Ë 31 ∏—𫓧¡ 2552 2551

∫“∑µàÕÀÿâπ °”‰√ (¢“¥∑ÿπ) µàÕÀÿâπ ”À√—∫ªï ‘Èπ ÿ¥«—π∑’Ë 31 ∏—𫓧¡ 2552 2551

ß∫°“√‡ß‘π‡©æ“–∫√‘…—∑ °”‰√µàÕÀÿâπ¢—Èπæ◊Èπ∞“π ®”π«πÀÿâπ “¡—≠ 863,424,783 866,684,157 °”‰√ ÿ∑∏‘ 543,994,994 393,535,543 0.63 0.45 28. Àπ’È ‘π∑’ËÕ“®‡°‘¥¢÷Èπ„π¿“¬Àπâ“·≈–¿“√–ºŸ°æ—π ≥ «—π∑’Ë 31 ∏—𫓧¡ 2552 °) ∫√‘…—∑·≈–∫√‘…—∑¬àÕ¬¡’Àπ’È ‘π∑’ËÕ“®‡°‘¥¢÷Èπ„π¿“¬Àπâ“®“°°“√∑’Ë∏𓧓√ÕÕ°Àπ—ß ◊էȔª√–°—π∫√‘…—∑„Àâ°—∫Õߧ尓√√—∞∫“≈∫“ß·Àà߇ªìπ®”π«π‡ß‘π√«¡ 169.94 ≈â“π∫“∑ (‡©æ“–∫√‘…—∑ ®”π«π‡ß‘π 155.75 ≈â“π∫“∑) ¢) ∫√‘…—∑„Àâ∏𓧓√Õ“«—≈µ—Ϋ —≠≠“„™â‡ß‘π„Àâ°—∫‡®â“¢Õß∑’Ë¥‘𠇪ìπ®”π«π‡ß‘π 69.68 ≈â“π∫“∑ §) ∫√‘…—∑∑” —≠≠“®–´◊ÈÕ®–¢“¬∑’Ë¥‘π°—∫‡®â“¢Õß∑’Ë¥‘π ‚¥¬¡’¿“√–ºŸ°æ—πµ“¡ —≠≠“‡ªìπ®”π«π‡ß‘π 27.65 ≈â“π∫“∑·≈–¡’°“√®à“¬‡ß‘π¡—¥®”·≈â«®”π«π‡ß‘π 5.05 ≈â“π∫“∑ ß) ∫√‘…—∑¡’¿“√–§È”ª√–°—π‡ß‘π°Ÿâ¬◊¡√–¬–¬“«„Àâ°—∫∫√‘…—∑¬àÕ¬„π«ß‡ß‘π 21.59 ≈â“π∫“∑ ·≈–∫√‘…—∑√à«¡„π«ß‡ß‘π 14.25 ≈â“π∫“∑ 29. ¢âÕ¡Ÿ≈∑“ß°“√‡ß‘𮔷𰵓¡ à«πß“π √“¬≈–‡Õ’¬¥¢âÕ¡Ÿ≈∑“ß°“√‡ß‘𮔷𰵓¡ à«πß“π¢Õß∫√‘…—∑·≈–∫√‘…—∑¬àÕ¬  ”À√—∫ªï ‘Èπ ÿ¥«—π∑’Ë 31 ∏—𫓧¡ 2552 (∫“∑) °‘®°“√æ—≤π“ °‘®°“√„Àâ‡™à“ °‘®°“√ µ—¥√“¬°“√√–À«à“ß°—π ß∫°“√‡ß‘π√«¡ √«¡ Õ —ßÀ“√‘¡∑√—æ¬å æ◊Èπ∑’Ë·≈–∫√‘°“√  π“¡°Õ≈åø DR. CR. √“¬‰¥â®“°°“√¢“¬ 2,438,547,339 - 2,438,547,339 (10,611,700) - 2,427,935,639 √“¬‰¥â§à“‡™à“æ◊Èπ∑’Ë∫√‘°“√ 14,985,446 14,985,446 (32,400) 14,953,046 √“¬‰¥â π“¡°Õ≈åø 54,200,159 54,200,159 54,200,159 √«¡√“¬‰¥â®“°°“√¢“¬·≈–∫√‘°“√ 2,438,547,339 14,985,446 54,200,159 2,507,732,944 2,497,088,844 °”‰√¢—Èπµâπ 990,857,802 10,841,803 20,943,089 1,022,642,694 1,014,920,120 √“¬‰¥âÕ◊Ëπ 25,763,715 (10,076) 25,753,639 §à“„™â®à“¬„π°“√¢“¬ 65,101,164 65,101,164 §à“„™â®à“¬„π°“√∫√‘À“√ 169,112,194 - 169,112,194 §à“µÕ∫·∑πºŸâ∫√‘À“√ 37,076,187 37,076,187  à«π·∫àß„πº≈°”‰√ (¢“¥∑ÿπ) ®“°‡ß‘π≈ß∑ÿ𠵓¡«‘∏’ à«π‰¥â‡ ’¬ 2,464,087 (15,424,335) 8,569,777 (4,390,471) §à“„™â®à“¬∑“ß°“√‡ß‘π 11,981,985 11,981,985 ¿“…’‡ß‘π‰¥â 212,550,321 - 212,550,321 °”‰√ ÿ∑∏‘ 555,048,645 540,461,437 ≥ «—π∑’Ë 31 ∏—𫓧¡ 2552 ∑’Ë¥‘πÕ“§“√·≈–Õÿª°√≥å -  ÿ∑∏‘ 108,621,140 - 683,714,657 792,335,797 - 792,335,797  ‘∑∏‘°“√‡™à“∑’Ë¥‘πæ√âÕ¡Õ“§“√ -  ÿ∑∏‘ 38,328,699 38,328,699 38,328,699  ‘π∑√—æ¬åÕ◊ËπÊ 5,156,293,969 - 5,156,293,969 √«¡ 5,986,958,465 5,986,958,465

64

√“¬ß“πª√–®”ªï 2552 ∫√‘…—∑ ¡—Ëπ§ß‡§À–°“√ ®”°—¥ (¡À“™π)


°‘®°“√æ—≤π“ °‘®°“√„Àâ‡™à“ Õ —ßÀ“√‘¡∑√—æ¬å æ◊Èπ∑’Ë·≈–∫√‘°“√ 2,131,820,775 15,099,478 2,131,820,775 15,099,478 799,427,725 10,955,835

”À√—∫ªï ‘Èπ ÿ¥«—π∑’Ë 31 ∏—𫓧¡ 2551 (∫“∑) °‘®°“√ µ—¥√“¬°“√√–À«à“ß°—π √«¡  π“¡°Õ≈åø DR. CR. - 2,131,820,775 (45,662,980) 15,099,478 (32,400) 56,574,713 56,574,713 56,574,713 2,203,494,966 23,685,513 834,069,073 23,578,781 (552,900) 72,256,799 177,098,139 31,570,932 -

ß∫°“√‡ß‘π√«¡

√“¬‰¥â®“°°“√¢“¬ - 2,086,157,795 √“¬‰¥â§à“‡™à“æ◊Èπ∑’Ë∫√‘°“√ 15,067,078 √“¬‰¥â π“¡°Õ≈åø 56,574,713 √«¡√“¬‰¥â®“°°“√¢“¬·≈–∫√‘°“√ 2,157,799,586 °”‰√¢—Èπµâπ 836,020,479 √“¬‰¥âÕ◊Ëπ 23,025,881 §à“„™â®à“¬„π°“√¢“¬ 72,256,799 §à“„™â®à“¬„π°“√∫√‘À“√ - 177,098,139 §à“µÕ∫·∑πºŸâ∫√‘À“√ 31,570,932  à«π·∫àß„πº≈°”‰√(¢“¥∑ÿπ)®“°‡ß‘π≈ß∑ÿ𠵓¡«‘∏’ à«π‰¥â‡ ’¬ 36,667,446 (33,284,751) 3,382,695 §à“„™â®à“¬∑“ß°“√‡ß‘π 20,362,997 20,362,997 ¿“…’‡ß‘π‰¥â 155,374,706 - 155,374,706 °”‰√ ÿ∑∏‘ 437,651,727 405,765,482 ≥ «—π∑’Ë 31 ∏—𫓧¡ 2552 ∑’Ë¥‘πÕ“§“√·≈–Õÿª°√≥å -  ÿ∑∏‘ 108,586,228 - 696,824,501 805,410,729 - 805,410,729  ‘∑∏‘°“√‡™à“∑’Ë¥‘πæ√âÕ¡Õ“§“√ -  ÿ∑∏‘ 42,472,342 42,472,342 42,472,342  ‘π∑√—æ¬åÕ◊ËπÊ 5,318,520,338 - 5,318,520,338 √«¡ 6,166,403,409 6,166,403,409 30. °“√®—¥ª√–‡¿∑√“¬°“√„πß∫°“√‡ß‘π 30.1 °“√®—¥ª√–‡¿∑√“¬°“√∫—≠™’„À¡à„πß∫°“√‡ß‘π¢Õߪï 2551‰¥â®—¥ª√–‡¿∑µà“߉ª®“°‡¥‘¡‡æ◊ËÕ„Àâ Õ¥§≈âÕß°—∫°“√· ¥ß√“¬°“√·≈–°“√®—¥ª√–‡¿∑√“¬°“√ ∫—≠™’¢Õߪï 2552 ´÷Ë߉¡à¡’º≈°√–∑∫µàÕ°”‰√ (¢“¥∑ÿπ)  ÿ∑∏‘À√◊Õ à«π¢ÕߺŸâ∂◊ÕÀÿâπµ“¡∑’ˉ¥â√“¬ß“π‰ª·≈â« ∫“∑ ß∫°“√‡ß‘π√«¡ ß∫°“√‡ß‘π‡©æ“–∫√‘…—∑ µ“¡∑’®Ë ¥— µ“¡∑’ˇ§¬ µ“¡∑’®Ë ¥— µ“¡∑’ˇ§¬ ª√–‡¿∑„À¡à √“¬ß“π‰«â ª√–‡¿∑„À¡à √“¬ß“π‰«â ß∫¥ÿ≈ ≥ «—π∑’Ë 31 ∏—𫓧¡ 2551  ‘π§â“§ß‡À≈◊Õ -  ÿ∑∏‘ 3,301,625,795 5,086,257,662 3,214,364,510 4,976,840,736 ∑’Ë¥‘π√Õ°“√æ—≤π“·≈–‡æ◊ËÕ¢“¬ -  ÿ∑∏‘ 1,784,631,867 1,762,476,226 ∑’Ë¥‘π Õ“§“√·≈–Õÿª°√≥å -  ÿ∑∏‘ 805,410,729 806,593,816 805,406,601 806,589,688  ‘π∑√—æ¬å‰¡à¡’µ—«µπ 1,183,087 1,183,087 30.2 ∫√‘…—∑‰¥â¡’°“√®—¥ª√–‡¿∑√“¬°“√∫—≠™’∫“ß√“¬°“√„πß∫°“√‡ß‘π ”À√—∫ªï ‘Èπ ÿ¥«—π∑’Ë 31 ∏—𫓧¡ 2551 „À¡à‡æ◊ËÕ„Àâ Õ¥§≈âÕß°—∫°“√®—¥ª√–‡¿∑√“¬°“√∫—≠™’ „πªïªí®®ÿ∫—π ´÷Ë߉¡à¡’º≈°√–∑∫µàÕ°”‰√ ÿ∑∏‘À√◊Õ à«π¢ÕߺŸâ∂◊ÕÀÿâπ °“√®—¥ª√–‡¿∑√“¬°“√„À¡à¡’¥—ßµàÕ‰ªπ’È ∫“∑ ß∫°“√‡ß‘π√«¡ ß∫°“√‡ß‘π‡©æ“–∫√‘…—∑ µ“¡∑’®Ë ¥— µ“¡∑’ˇ§¬ µ“¡∑’®Ë ¥— µ“¡∑’ˇ§¬ ª√–‡¿∑„À¡à √“¬ß“π‰«â ª√–‡¿∑„À¡à √“¬ß“π‰«â ß∫°”‰√¢“¥∑ÿπ  ”À√—∫ªï ‘Èπ ÿ¥«—π∑’Ë 31 ∏—𫓧¡ 2551 §à“„™â®à“¬„π°“√¢“¬·≈–∫√‘À“√ 261,673,075 258,657,245 §à“„™â®à“¬„π°“√¢“¬ 72,256,799 71,154,845 §à“„™â®à“¬„π°“√∫√‘À“√ 161,695,184 159,781,308 §à“µÕ∫·∑π°√√¡°“√ 7,066,725 6,483,125 §à“µÕ∫·∑πºŸâ∫√‘À“√ 31,570,932 30,987,332 ¥Õ°‡∫’Ȭ®à“¬ 17,146,112 15,644,708 §à“„™â®à“¬∑“ß°“√‡ß‘π 20,362,997 18,861,593 31. °“√Õπÿ¡—µ‘ß∫°“√‡ß‘π ß∫°“√‡ß‘ππ’ȉ¥â√—∫°“√Õπÿ¡—µ‘„ÀâÕÕ°‚¥¬°√√¡°“√¢Õß∫√‘…—∑·≈⫇¡◊ËÕ«—π∑’Ë 16 °ÿ¡¿“æ—π∏å 2553

Annual Report 2009 M.K. Real Estate Development Plc.

65


NOTES TO FINANCIAL STATEMENTS December 31, 2009 and 2008 M.K. REAL ESTATE DEVELOPMENT PUBLIC COMPANY LIMITED AND ITS SUBSIDIARIES 1. GENERAL INFORMATION (a) Domicile and legal status of the Company The Company registered the conversion of its legal status from a company limited into a public limited company under the Public Company Limited Act with the Ministry of Commerce on December 15, 1993. The Companyûs head office is located at 719 M.K. Building, Bantadtong Road, Pathumwan, Bangkok 10330, Thailand. (b) Nature of the Companyûs operations The Company operates its core business as a real estate developer in various areas such as developing empty land for sale, building house for sale including the land, providing construction services, building condominium for sale, providing rental and car park services, and golf course services, etc. (c) Employees As at December 31, 2009 and 2008 the Company and subsidiaries hold 250 employees and 253 employees, respectively (248 employees and 251 employees, respectively for the Company only). (d) Expenses by nature Significant expenses by nature are as follow : Baht Consolidated Financial Statements The Companyûs Financial Statements Only For the years ended December 31, For the years ended December 31, 2009 2008 2009 2008 Purchase of land for sales and land for development 390,516,058 41,209,162 387,412,068 33,130,606 Utilities and construction in progress 798,163,993 966,159,659 789,329,159 916,482,714 Interest capitalization 41,931,739 78,920,236 40,907,652 78,261,117 Changes in land for sales, land for development utilities and construction in progress 199,927,204 184,694,078 182,065,388 218,143,264 Management benefit expenses 37,076,187 31,570,932 36,341,187 30,987,332 Employee benefit cost 76,045,463 75,659,586 74,807,720 74,492,711 Depreciation and amortization 26,133,856 27,178,840 26,132,610 27,177,036 Advertisement and promotion 59,113,786 62,618,528 58,952,834 62,377,822 Security and cleaning services 23,376,251 19,441,735 23,376,251 19,441,735 Employee benefit costs The employee benefit costs consisted of salary, bonus, social security and welfare. Management benefit expenses Management benefit expenses represents the benefits paid to the Companyûs management such as salaries and related benefit including the benefit paid by other means. The Companyûs management is the persons who are defined under the Securities and Exchange Act. 2. BASIS FOR FINANCIAL STATEMENTS The accompanying consolidated financial statements and financial statements have been prepared on the basis that the Company continuously operates its business as a going concern manner. 3. BASIS OF CONSOLIDATED AND OPERATIONS 3.1 The accompanying consolidated financial statements include the accounts of M.K. Real Estate Development Public Company Limited, and subsidiaries as follows: Percentage of Ownership As at Decenber As at Decenber 31, 2009 31, 2008 95.50 95.50

Mancon Company Limited

The percentage of total assets and total revenues of the subsidiaries included in the consolidated financial statements are as follows : Percentage of total assets included in consolidated balance sheet As at December 31, 2009 2008 Subsidiary company Mancon Company Limited

66

√“¬ß“πª√–®”ªï 2552 ∫√‘…—∑ ¡—Ëπ§ß‡§À–°“√ ®”°—¥ (¡À“™π)

1.57

1.84

Percentage of total revenues included in consolidated income statement For the years ended December 31, 2009 2008 2.37

5.72


4.

Subsidiaries are those companies controlled by the Company. Control exists when the Company has the power, directly or indirectly, to govern the financial and operating policies of a company so as to obtain benefits from its activities. The financial statements of subsidiaries are included in the consolidated financial statements from the date that control commences until the date that control ceases. 3.2 Goodwill arising from acquisition of subsidiaries is amortized to be an expense by the straight-line method over the period of 5 years. The significant intercompany transactions with the subsidiaries have been eliminated for preparing of consolidated financial statements. When TAS 43 : Business Combinations becomes effective from January 1, 2008, the effect of this accounting standard requires the Company to stop recognizing positive goodwill as amortization expense, but to have an impairment review at the end of each accounting period instead. 3.3 Significant intercompany transactions between the Company and subsidiaries have been properly eliminated. 3.4 The consolidated financial statements are prepared by using uniform accounting policies for transaction alike and other events in similar circumstances. SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES 4.1 Basis for preparation of financial statements 4.1.1 The financial statements have been prepared in accordance with accounting standard prescribed by Thai Accounts Act enunciated under the Accounting Profession Act B.E. 2547. The presentation of the financial statements has been made in compliance with the Notification of the Department of Business Development, the Ministry of Commerce, re : the financial statements presentation B.E.2552 for public limited company, 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 such financial statements in Thai language. The financial statements have been prepared on a historical cost basis except where otherwise disclosed in the accounting policies. 4.1.2 Adoption of new accounting standards during the year 4.1.2.1 The Federation of Accounting Professions (FAP) has issued Notification No. 12/2552 dated May 15, 2009, regarding the renumbering of Thai Accounting Standards to be the same as International Accounting Standards. 4.1.2.2 The Federation of Accounting Professions (FAP) has issued Notification No. 86/2551 and 16/2552, mandating the use of new accounting standards, financial reporting standards and accounting treatment guidance as follows. a) Accounting standards, financial reporting standards and accounting treatment guidance which are effective for the fiscal year beginning on or after January 1, 2009. Framework for the Preparation and Presentation of Financial Statements (revised 2007) TAS 36 Impairment of Assets (revised 2007) TFRS 5 Non-current Assets Held for Sale and Discontinued Operations (revised 2007) Accounting Treatment Guidance for Leasehold Right Accounting Treatment Guidance for Business Combination under Common Control The management of the Company has assessed the effect of these accounting standards, financial reporting standards and accounting treatment guidance and believes that they will not have any significant impact on the financial statements for the current year. b) Accounting standards which are not effective for the current year. TAS 20 Accounting for Government Grants and Disclosure of Government Assistance (effective on January 1, 2012) TAS 24 Related Party Disclosures (revised 2007) (effective on January 1, 2011) TAS 40 Investment Property (effective on January 1, 2011) The management of the Company is still evaluating the effect of these accounting standards to the financial statements for the year in which they are initially applied. 4.2 Recognition of Revenues and Expenses 4.2.1 Revenues The Company and its subsidiaries recognize revenue from sales of land under the installment payment agreements on the installment method. Revenue from sales of land and houses, and condominiums are recognized on the percentage of completion method and excluded cost of land and evaluation from engineer. Revenue is recognized on sale contracts on which the deposits are collected for not less than 20 percent of contract price, the Company will discontinue recognizing revenue on sale contracts for which customers default the payment of installment over 3 periods. Income that recognizes on percentage-of-completion method exceeds instalment, the difference is reported as a current asset which is separatly presented under çreceivable and uncollected billingé. If instalment exceeds the income on percentage-of-completion method, the difference is reported as a current liability which is included under çPrepaid income from customeré. In addition, the Company and its subsidiaries recognize the income from real estate business in conformity with the Accounting Standard çIncome Recognition Sales in Real Estateé such as the total agreements to sell condominiums, should not be less than 40% of the areas opening for sales, buyersû paid deposits and installments, should not be less than 20% of the corresponding contract sales amounts, etc. Annual Report 2009 M.K. Real Estate Development Plc.

67


4.3

4.4

4.5

4.6

4.7

4.8

4.9

68

4.2.2 Expenses Cost of sales are based on the estimated cost of real estate project and recognized on the percentage of sale revenue accounted from the respective lot. Cost of construction are recognized in accordance with the percentage of work completed based on total estimated costs. Provision for anticipated losses on construction work is made in the accounts in full when the possibility of loss is ascertained. 4.2.3 Revenue from leasehold rights is recognized over the lives of the leases. 4.2.4 The Company and subsidiaries recognize other revenues and expenses on an accrual basis. Cash and Cash Equivalents Cash and cash equivalents consist of cash in hand, cash at bank, and all highly liquid investments with an original maturity of three months or less and not subject to withdrawal restrictions. Allowance for Doubtful Accounts The Company and its subsidiaries provide allowance for doubtful accounts equal to the estimated collection losses that may be incurred in the collection of all receivables. The estimated losses are based on historical collection experience coupled with a review of the current status of existing receivables. Inventories Inventories are real estate for sale which are stated at cost or net realizable value, whichever is lower. Land developing for sales included the cost of raw land, interest on related loans, and development costs, net of costs of lots sold or net realizable value, whichever is lower. The Company and its subsidiaries compute the cost of land developing for sales based on the percentages of revenue recognized from the respective lots. Construction materials are valued at cost (first-in, first-out method) or net realizable value, whichever is lower. The Company and its subsidiaries ceased a capturing of the related interest as part of inventories cost when construction of the project had been finished or it had been suspended in unusual event. Property development Property development is stated at cost. Costs include land, land developing, construction and direct expense including interest. Capitalization of interest cost into property development project shall calculate by multiplying the determined interest rate to incurring cost of property development project. The cost comprised of cost of land and real estate developing cost. The Company ceases to capture the related interest as part of property development cost when construction of the project has been finished or suspended. Investments in subsidiary and associated companies Investments in subsidiary and associated companies are stated at cost method. The Company recognizes gain or loss on disposal of the investment in the statement of income and also impairment loss on the investment. Consolidated financial statement ‡Investments in subsidiaries in the separate financial statements of the Company are accounted for using the cost method. (Under this method, the investment is recorded at cost with the excess of cost over the attributable net assets at the date of acquisition). If the Company has incurred obligations to the subsidiaries or to satisfy obligations of the said subsidiaries that the Company has guaranteed of otherwise committed, the Company will estimate the provision for the excess losses on the investment and were jointly stated as a Non-Current Liabilities in balance sheet under the caption of çProvision of estimated liabilities to a subsidiaryé. Positive goodwill The net asset value of an associated company that is lower than the acquisition cost or cost of investment is recorded as çPositive goodwillé under the caption çInvestment in associateé. This positive goodwill is be amortized as an expense over a period of 20 years by straight - line method. Since the year 2008, the Company has stopped recognizing goodwill as amortization expenses and to consider impairment loss instead. Investments in related parties and other companies Long - term investments in related parties and other companies are stated at cost (less allowance for impairment). The Company recognizes impairment loss as expense on the investment in the statement of income. Property, plant and equipment/Leasehold right Depreciation of property and equipment has been computed by the straight-line method over the estimated useful lives of the assets as follows : Years Golf course 30 Buildings and structures 20 Transportation equipment 5 Machinery and equipment 5 Furniture, fixtures and office equipment 5 Leasehold right and utilizable right on building and improvement are stated at cost less accumulated amortization. Amortization on leasehold rights are calculated to be expenditures by the straight - line method over the term of contract 30 years long.

√“¬ß“πª√–®”ªï 2552 ∫√‘…—∑ ¡—Ëπ§ß‡§À–°“√ ®”°—¥ (¡À“™π)


4.10 Intangible assets Intangible assets are stated at cost less accumulated amortisation. Amortisation of intangible assets is calculated by reference to their costs on a straight-line basis over the following estimated useful lives: Software - 5 years 4.11 Impairment of Assets The Company and its subsidiary companies the impairment of assets whenever events indicate that the carrying value of an asset exceeds its realizable value. Realisable value is determined the value of an asset没s net selling price and its value in use whichever is higher. The value in use is derived from management estimates. The Company and its subsidiary companies recognize an impairment loss in the earnings statements whenever the carrying value of an asset exceeds its realizable value. The Company and its subsidiary companies will reverse the impairment loss when there are indications that the value of the asset is no longer impaired or the amount of impairment has decreased. 4.12 Operating Lease Lease of assets under which all the risks and rewards of ownership are effectively retained by the lessor are classified as operating leases. Lease payments under an operating lease are recognized as an expense on a systematic basis over the lease term. 4.13 Finance Lease Leases of assets that substantially transfer to the Company all the rewards and risks of ownership of assets and that the Company intends to exercise the option of the leases to purchase the assets at the expiration of the lease term, are accounted for as finance leases. At the inception of a finance lease, the cost of the asset is recorded together with the obligation, excluding the interest element, to pay future rentals. Finance charges are charged to the current period operations in proportion to the effective rate. The right on the assets under hire-purchase agreements will be transferred to the company when final installment is paid. 4.14 Foreign Currency Transactions Foreign currency transactions are recorded at the rates prevailing on the dates of the transactions. Assets and liabilities denominated in foreign currencies at the balance sheet dates are translated into Baht at the prevailing rates at those dates. Gains or losses on translation are credited or charged to current operations. 4.15 Use of estimates in the preparation of financial statements The preparation of financial statements in conformity with generally accepted accounting principles requires management to make estimates and assumptions that affect the reported amounts of assets, liabilities, revenues and expenses and disclosure of contingent assets and liabilities. Actual results could differ from those estimates. 4.16 Provisions A Provision is recognized in the balance sheet when the Company has a present legal or constructive obligation as a result of a past event, and it is probable that an outflow of economic benefits will be required to settle the obligation and a reliable estimate can be made of the amount of the obligation. 4.17 Financial instruments The Company and its subsidiary companies have no policy to speculate in or engage in the trading of any financial derivative instruments. Financial instruments carried in the balance sheet include cash and cash equivalents, current investments, trade accounts receivable, loans to related party, trade accounts payable and loans from financial institutions. The particular recognition methods adopted are disclosed in the individual policy statements associated with each item. 4.18 Employee benefits Salaries, wages, bonuses, contributions to the social security fund and provident fund are recognized as expenses when incurred. 4.19 Treasury shares Treasury shares are stated at cost and presented as a deduction from shareholders没 equity. Gains on disposal of treasury shares are determined by reference to the carrying amount and are presented as premium on treasury shares. Losses on disposal of treasury shares are determined by reference to the carrying amount and are presented in premium on treasury share and retained earnings, consecutively. 4.20 Income tax The Company records income tax expense, if any, based on the amount currently payable under the Revenue Code. The income tax calculation method and policies has been disclosed in Note to financial statement no.25. 4.21 Basic earnings per share Basic earnings per share is calculated by dividing the net earnings attributable to equity holders of the parent company for the period by the weighted average number of ordinary shares, held by outside parties, issued and paid-up during the period. Weighted average number of ordinary shares is calculated by net of ordinary shares from treasury shares held by the Company, as discussed in Note 23 to the financial statements. Annual Report 2009 M.K. Real Estate Development Plc.

69


5.

TRANSACTIONS WITH RELATED COMPANIES 5.1 The Company has certain transactions with its related companies. A portion of the Companyûs assets, liabilities, revenues, cost and expenses arise from the transactions with the related companies which are related through common shareholdings and/or directorships. The effects of these transactions, which are in the normal course of business, are reflected in the accompanying financial statements on the basis determined by the companies concerned. The significant transactions between the Company and its related companies reflect in the accompanying consolidated financial statements and financial statements for the years ended December 31, 2009 and 2008 are as follows : In Million Baht Consolidated Financial Statements The Companyûs Financial Statements Only For the years ended December 31, For the years ended December 31, Pricing basis 2009 2008 2009 2008 Sales income and cost of sales - land - Mancon Co., Ltd. Selling price exceeds appraisal price 10.61 - Mancon Co., Ltd. At cost 44.72 Fees income - land - Mancon Co., Ltd. Appraisal value from Land Department 0.94 Rental and service income Market price 2.07 2.07 2.10 2.10 Supply sales - Mancon Co., Ltd. At cost 0.55 Interest expense Interest rate at - Dura Floor Co., Ltd. (2009 : 8.00-8.75 p.a.) (2008 : 8.75-9.25 p.a.) 1.10 1.66 1.10 1.66 Dividends receipt - Mancon Co., Ltd. Declared dividend paid 6.69 - Dura Floor Co., Ltd. Declared dividend paid 0.52 0.42 0.52 0.37 - Haadyai Nakarin Co., Ltd. Declared dividend paid 2.88 2.31 2.88 2.31 The significant outstanding balances as at December 31, 2009 and 2008 are as follows :Baht The Companyûs Financial Statements Only As at December 31, 2009 2008

Consolidated Financial Statements As at December 31, 2009 2008 Receivables from related company - Mancon Co., Ltd.

-

-

10,611,700

44,725,215

In 2009, the Company has sold partail of land for development and for sale to a subsidiary for using in real estate development at selling price that exceeds appraisal price. The Company gain a profit from sale of Baht 8.57 million (cost price of Baht 2,116.64 per square wah : selling price of Baht 11,000.00 per square wah : appraisal price of Baht 6,407.71 per square wah). In 2008, A part of land for development and for sale of the Company was sold to a subsidiary for using in real estate development at cost of Baht 44.72 million and having fully payment in during year 2009. Receivables and advances to related parties Baht Consolidated Financial Statements The Companyûs Financial Statements Only As at December 31, As at December 31, 2009 2008 2009 2008 Mancon Co., Ltd. Advances to related parties Balance, beginning of year Additional loan during the year Deduction from payment during the year Balance, end of year

-

Advance for Mancon Co., Ltd. has no interest charge and its repayment required at calling.

70

√“¬ß“πª√–®”ªï 2552 ∫√‘…—∑ ¡—Ëπ§ß‡§À–°“√ ®”°—¥ (¡À“™π)

-

28,498,892 40,492,391 (50,089,686) 18,901,597

22,917,693 104,856,358 (99,275,159) 28,498,892


Advance from related parties Baht Consolidated Financial Statements The Company没s Financial Statements Only As at December 31, As at December 31, 2009 2008 2009 2008 Dura Floor Co., Ltd. Balance, beginning of year Additional loan during the year Deduction from payment during the year Balance, end of year

6.

13,200,000 20,000,000 (23,200,000) 10,000,000

18,200,000 (5,000,000) 13,200,000

13,200,000 20,000,000 (23,200,000) 10,000,000

18,200,000 (5,000,000) 13,200,000

Advance from Dura floor Co., Ltd., bears interest at 8.00-8.75 p.a. (2008 : 8.87-9.25 p.a.) and its repayment required at calling. CASH AND CASH EQUIVALENTS Baht Consolidated Financial Statements The Company没s Financial Statements Only As at December 31, As at December 31, 2009 2008 2009 2008 Cash in hand 664,554 1,288,544 659,000 1,276,544 Cashier Cheque 20,801,246 9,419,008 20,801,246 9,419,008 Cash at bank - current accounts 694,581 1,136,536 547,536 1,012,041 Cash at bank - savings accounts 4,515,199 28,308 4,513,194 26,314 Current investment - Fixed deposit - 3 month 186,127 221,453 138,642 175,274 - High Liquidity Fixed-income fund 67,209 67,209 Total 26,928,916 12,093,849 26,726,827 11,909,181

Savings accounts are carrying an interest rate at the floating rate of each bank. 7. ASSETS PLEDGED OR MORTGAGED AS COLLATERAL As at December 31, 2009 and 2008, the Company and subsidiaries have pledged or mortgaged substantial portion of land developing for sales and land for development and for sales mentioned in Note 8, with the net book value of Baht 3,059.26 million and Baht 3,093.01 million, respectively (Baht 2,983.45 million and Baht 3,070.15 million, respectively for the Company only) and the substantial property and equipment mentioned in Note 11, with the net book value of Baht 36.77 million and Baht 37.57 million, respectively (Baht 36.77 million and Baht 37.57 million, respectively for the Company only) as collateral for the liabilities to financial institute of the Company and subsidiaries. 8. INVENTORIES AND LAND FOR DEVELOPMENT AND FOR SALES - NET 8.1 This account consist of Baht Consolidated Financial Statements The Company没s Financial Statements Only As at December 31, As at December 31, 2009 2008 2009 2008 Land and construction developing for sales 2,868,074,951 3,113,136,316 2,803,430,676 3,030,296,929 Land for development and for sales 1,866,887,319 1,798,810,551 1,839,976,485 1,776,654,909 Houses and sample houses 164,280,605 182,546,396 164,280,605 178,339,765 Condominiums under construction 2,869,100 2,869,100 2,869,100 2,869,100 Construction materials 1,658,141 6,334,958 1,658,141 6,119,692 Total 4,903,770,116 5,103,697,321 4,812,215,007 4,994,280,395 Less allowance for devalue of - Houses and sample houses (3,260,976) (3,260,976) (3,260,976) (3,260,976) - Land for development and for sales (14,178,683) (14,178,683) (14,178,683) (14,178,683) Total (17,439,659) (17,439,659) (17,439,659) (17,439,659) Inventories, net 4,886,330,457 5,086,257,662 4,794,775,348 4,976,840,736

Annual Report 2009 M.K. Real Estate Development Plc.

71


During the years 2009 and 2008, the Company and its subsidiaries have bought land located in Bangkok and vicinity area from other parties for future real estate development. In 2009 and 2008, the landûs total areas are 32,701.90 square wah and 5,269.90 square wah with total buying price of Baht 390.52 and 41.30 million, respectively, shown in the consolidated financial statement, (32,580.90 square wah and 3,130.90 square wah with total buying price of Baht 387.41 and 33.13 million, respectively, shown in the companyûs financial statement). The landûs ownership rights are completely transferred to the Company and its subsidiaries. Allowance for devalue of inventories was changed during the year as follow : Baht Consolidated Financial Statements The Companyûs Financial Statements Only As at December 31, As at December 31, 2009 2008 2009 2008 Allowance for devalue of - Houses and sample houses Balance, beginning of year 3,260,976 3,260,976 3,260,976 3,260,976 Addition during the year Deduction from reversal during the year Balance, end of year 3,260,976 3,260,976 3,260,976 3,260,976 - Land for development and for sales Balance, beginning of year 14,178,683 14,178,683 Addition during the year 14,178,683 14,178,683 Deduction from reversal during the year Balance, end of year 14,178,683 14,178,683 14,178,683 14,178,683 Total 17,439,659 17,439,659 17,439,659 17,439,659 In year 2008, the Company and subsidiaries hired an independent appraiser, Thai Surveyer & Advisory Co., Ltd. to appraise the fair value of its inventories, using the çMarket Approaché method. In October 2008, the appraiser has given the appraisal result to some developing land for sale having value lower than its cost. The management considers to set aside on allowance for declining cost of land for development and for sales in the amount of Baht 14.18 million. Loss on declining in value of such land is recognized as an administrative expenses in the income statement of 2008. Most inventories are mortgaged to banks as security on loans from financial institutions as discussed in Note 7. Portions of the Company and its subsidiariesû interest were capitalized as part of inventories as follow : Baht Consolidated Financial Statements The Companyûs Financial Statements Only For the years ended December 31, For the years ended December 31, 2009 2008 2009 2008 Interest capitalized in inventory - The Company 40,907,652 78,261,117 40,907,652 78,261,117 - Subsidiary 1,024,087 659,119 41,931,739 78,920,236 40,907,652 78,261,117 For the years ended December 31, 2009 and 2008, the Company capitalized interest expenses as a part of property development cost. The capitalization rate for interest calculation is 6.87% and 7.63%, respectively. For the years ended December 31, 2009 and 2008, a subsidiary capitalized interest expenses as a part of property development cost. The capitalization cost charged to the project incurred from its direct loan to the project. 8.2 Obligation and commitment under real estate projects Consolidated Financial Statements The Companyûs Financial Statements Only As at December 31, As at December 31, 2009 2008 2009 2008 Number of projects on hand, beginning of the year 20 19 19 18 Number of closing projects Number of newly open projects 2 1 2 1 Number of projects on hand, ending of the year 22 20 21 19 Contracted sales value (In million Baht) 14,547 12,206 14,281 11,985 As percentage of total current projects value 74.63 70.53 74.28 70.33 As at December 31, 2009 and 2008, the Company and its subsidiaries have obligation and commitment to complete the public utility development of projects in the total amount of Baht 91.26 million and Baht 49.31 million, respectively (Baht 72.65 million and Baht 48.11 million, respectively for the Company only).

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9.

INVESTMENTS IN SUBSIDIARY AND ASSOCIATED COMPANIES Type of Business

Type of relation

Equity Method Subsidiary Companies Mancon Co., Ltd. Real Estate Development Co-Management Net Associated companies Samakkee Cement Co., Ltd. Manufacturing-Cement Co-Management Mancon Investment Group Company Limited Holding Co-Management Subnorasing Co., Ltd. Manufacturing-Sand Co-Management High Full Rubber Product Co., Ltd. Manufacturing Shareholding Jian Shi Development (Tianjin) Co., Ltd. Holding Indirect holding Total Less provisions for impairment of investments in associated companies Net

Type of Business

Type of relation

At Cost Subsidiary Companies Mancon Co., Ltd. Real Estate Development Co-Management Associated companies Samakkee Cement Co., Ltd. Manufacturing-Cement Co-Management Mancon Investment Group Company Limited Holding Co-Management Subnorasing Co., Ltd. Manufacturing-Sand Co-Management High Full Rubber Product Co., Ltd. Manufacturing Shareholding Jian Shi Development (Tianjin) Co., Ltd. Holding Indirect holding Total Less provisions for impairment of investments in associated companies Net

Consolidated Financial Statements Paid up shares (In Thousand Baht) Percentage of Ownership Amount (Baht) As at December 31, As at December 31, As at December 31, 2009 2008 2009 2008 2009 2008 20,000

20,000

95.50

95.50

22,065,866 21,896,308 22,065,866 21,896,308

185,000

185,000

40.64

40.64

123,557,481 127,758,062

6,650 18,000 53,253 -

6,650 18,000 53,253 -

49.00 36.07 7.05 49.00

49.00 36.07 7.05 49.00

10,181 10,181 4,353,290 4,388,912 1,606,239 1,760,507 129,527,191 133,917,662 (10,181) (10,181) 129,517,010 133,907,481

The Company没s Financial Statements Only Paid up shares (In Thousand Baht) Percentage of Ownership Amount (Baht) As at December 31, As at December 31, As at December 31, 2009 2008 2009 2008 2009 2008 20,000

20,000

95.50

95.50

25,940,000 25,940,000

185,000

185,000

40.64

40.64

133,757,000 133,757,000

6,650 18,000 53,253 -

6,650 18,000 53,253 -

49.00 36.07 5.00 49.00

49.00 36.07 5.00 49.00

10,181 10,181 6,492,600 6,492,600 2,836,492 2,836,492 143,096,273 143,096,273 (10,181) (10,181) 143,086,092 143,086,092

Investment for the Company没s financial statement only Since the year 2007, the Company has changed the Accounting for investments in subsidiaries and associated presented in the Company没s financial statements under the cost method rather than the equity method. Investment for consolidated financial statement The consolidated financial statement as at December 31, 2009 and 2008, the Company and its subsidiaries have a policy to record the investments in shares of associated companies by the equity method. The equity in net profit or loss of the investments are computed from the financial statement of such associated companies as at December 31, 2009 and 2008, which were prepared by Company没s management as follow :In Million Baht Sharing in profit (loss) from Net profit (loss) Percentage of net profit investments in associated companies For the years ended December 31, For the years ended December 31, For the years ended December 31, 2009 2008 2009 2008 2009 2008 Samakkee Cement Co., Ltd. (10.34) 6.29 (4.20) 2.56 (0.77) 0.63 Subnorasing Co., Ltd. (0.99) 2.63 (0.04) 0.95 (0.01) 0.23 High Full Rubber Product Co., Ltd. (3.09) (2.40) (0.15) (0.12) (0.03) (0.03) Total (4.39) 3.39 (0.81) 0.83 Annual Report 2009 M.K. Real Estate Development Plc.

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The change in portion of investment in associated company In the year 2008, the Companyûs portion of investment in Samakkee Cement Co., Ltd. is increased from 40.26% to 40.64%, because of received ordinary share by settlement of account receivables in the amount of Baht 0.70 million. Investments in associated companies in overseas Investments in associated companies in overseas are calculated by the equity method, which consist of Mancon Investment Group Co., Ltd., is recently taken from the last financial statement as at December 31, 2005. In 2008, the Company has fully recorded provisions for impairment on investments in Mancon Investment Group Co., Ltd. because it has ended business. Investment in High Full Rubber Product Co., Ltd. is recently taken from the latest financial statement as at December 31, 2008 which was audited by another auditor. The investment in this company was included in the consolidated financial statement as at December 31, 2009 and 2008. As at December 31, 2009 and 2008, the investments in associated companies totaled approximately Baht 129.52 million and Baht 133.91 million (2.16% and 2.17% of the consolidated total assets), respectively 10. OTHER LONG-TERM INVESTMENTS IN RELATED COMPANIES (General Investments) - At Cost Consolidated Financial Statements Paid up shares (In Thousand Baht) Percentage of Ownership Amount (Baht) Type of Type of As at December 31, As at December 31, As at December 31, Business relation 2009 2008 2009 2008 2009 2008 Sinnsuk Properties Co., Ltd. Real Estate Shareholding 200,000 200,000 15.00 15.00 30,000 30,000 Haadyai Nakarin Co., Ltd. Real Estate Shareholding 191,500 191,500 6.03 6.03 11,548 11,548 Dura Floor Corporation Co., Ltd. Manufacturing Shareholding 55,000 55,000 15.26 15.26 8,395 8,395 Supalai Northeast Co., Ltd. Real Estate Shareholding 335,447 335,447 0.44 0.44 8,050 8,050 Thai Advance Panel Technology Co., Ltd. Manufacturing Shareholding 67,200 67,200 4.65 4.65 3,125 3,125 D.Cement Co., Ltd. Manufacturing Shareholding 12,500 12,500 19.75 19.75 2,469 2,469 Total 861,647 861,647 63,587 63,587 Less allowance for decline in value of investment (39,470) (39,470) Net 24,117 24,117

Type of Business Sinnsuk Properties Co., Ltd. Real Estate Haadyai Nakarin Co., Ltd. Real Estate Dura Floor Corporation Co., Ltd. Manufacturing Supalai Northeast Co., Ltd. Real Estate Thai Advance Panel Technology Co., Ltd. Manufacturing D. Cement Co., Ltd. Manufacturing Total Less allowance for decline in value of investment Net

Type of relation Shareholding Shareholding Shareholding Shareholding Shareholding Shareholding

The Companyûs Financial Statements Only Paid up shares (In Thousand Baht) Percentage of Ownership Amount (Baht) As at December 31, As at December 31, As at December 31, 2009 2008 2009 2008 2009 2008 200,000 200,000 15.00 15.00 30,000 30,000 191,500 191,500 6.03 6.03 11,548 11,548 55,000 55,000 13.55 13.55 7,455 7,455 335,447 335,447 0.44 0.44 8,050 8,050 67,200 12,500 861,647

67,200 12,500 861,647

4.65 19.75

4.65 19.75

3,125 2,469 62,647 (39,470) 23,177

3,125 2,469 62,647 (39,470) 23,177

The investments in shares of related parties are carried at cost. As at December 31, 2009 and 2008, the aggregate net book values of the investments based on the latest available audited financial statements as at December 31, 2008 are lower than the aggregate costs by Baht 39.47 million and Baht 39.47 million respectively. Management provided an allowance for decline in value of the investments amounting to approximately Baht 39.47 million and Baht 39.47 million respectively, by considering the net book value (which was lower than cost) that is expected to be permanently declined.

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11. PROPERTY, PLANT AND EQUIPMENT - NET This account consists of: Consolidated Financial Statements (Baht) Balance, as at December 31,2008 Golf course business Cost - Land of golf course - Golf course - Club house Total cost Less accumulated depreciation - Golf course - Club house Total accumulated depreciation Net Real estate business Cost - Land of club house - Building and structures - Vehicle - Machinery and equipment - Furniture, fixtures and office equipment Total cost Less accumulated depreciation - Building and structures - Vehicle - Machinery and equipment - Furniture, fixtures and office equipment Total accumulated depreciation Net Total

Addition

Balance, as at December 31,2009

Deduction

487,415,227 209,262,251 118,278,528 814,956,006

-

-

487,415,227 209,262,251 118,278,528 814,956,006

(70,951,277) (47,180,228) (118,131,505) 696,824,501

(7,184,986) (5,924,858) (13,109,844)

-

(78,136,263) (53,105,086) (131,241,349) 683,714,657

76,112,629 61,403,624 28,582,519 56,801,388 42,350,430 265,250,590

111,653 3,464,250 1,440,747 3,410,997 8,427,647

(338,867) (1,677,109) (13,249) (115,086) (2,144,311)

76,112,629 61,176,410 30,369,660 58,228,886 45,646,341 271,533,926

(41,065,088) (25,139,971) (54,008,705) (36,450,598) (156,664,362) 108,586,228 805,410,729

(2,504,760) (1,644,576) (1,316,170) (2,765,845) (8,231,351)

264,975 1,589,623 13,247 115,082 1,982,927

(43,304,873) (25,194,924) (55,311,628) (39,101,361) (162,912,786) 108,621,140 792,335,797

The Company没s Financial Statements Only (Baht) Balance, as at December 31,2008 Golf course business Cost - Land of golf course - Golf course - Club house Total cost Less accumulated depreciation - Golf course - Club house Total accumulated depreciation Net Real estate business Cost - Land of club house - Building and structures - Vehicle - Machinery and equipment - Furniture, fixtures and office equipment Total cost Less accumulated depreciation - Building and structures - Vehicle - Machinery and equipment - Furniture, fixtures and office equipment Total accumulated depreciation Net Total

Addition

Balance, as at December 31,2009

Deduction

487,415,227 209,262,251 118,278,528 814,956,006

-

-

487,415,227 209,262,251 118,278,528 814,956,006

(70,951,277) (47,180,228) (118,131,505) 696,824,501

(7,184,986) (5,924,858) (13,109,844)

-

(78,136,263) (53,105,086) (131,241,349) 683,714,657

76,112,629 61,403,624 27,173,919 55,938,266 41,183,885 261,812,323

111,653 3,464,250 1,440,747 3,410,997 8,427,647

(338,867) (1,677,109) (13,249) (115,086) (2,144,311)

76,112,629 61,176,410 28,961,060 57,365,764 44,479,796 268,095,659

(41,065,088) (23,731,379) (53,149,596) (35,284,160) (153,230,223) 108,582,100 805,406,601

(2,504,760) (1,644,576) (1,314,924) (2,765,845) (8,230,105)

264,975 1,589,623 13,247 115,082 1,982,927

(43,304,873) (23,786,332) (54,451,273) (37,934,923) (159,477,401) 108,618,258 792,332,915

Annual Report 2009 M.K. Real Estate Development Plc.

75


As at December 31, 2009, the fully depreciated but still in use machinery, equipment, furniture, fixture, office equipment and vehicle amounted to Baht 51.67 million, Baht 33.02 million and Baht 20.18 million, respectively (The Companyûs only : Baht 50.82 million, Baht 31.85 million and Baht 18.77 million, respectively). As at December 31, 2009 and 2008, the Companyûs vehicles under the financial lease agreements amounted to net book value of Baht 1.23 million and Baht 1.91 million, respectively. As at December 31, 2009 and 2008, Property, plant and equipment are mainly used to guarantee against bank overdrafts and loans from financial institution amounted to net book value of Baht 36.76 million and Baht 37.57 million , respectively (The Companyûs only : Baht 36.76 million and Baht 37.57 million, respectively) as discussed in Note 7. CHANGING ACCOUNTING POLICY RELATING TO THE RECORDING OF PROPERTY, PLANT AND EQUIPMENT AND LEASEHOLD RIGHT ON LAND AND BUILDING In the year 2008, the Company has changed its accounting policy relating to the recording of property, plant and equipment and leasehold right on land and building (see note12) in the consolidated financial statements and separate financial statements from the revaluation method to the historical cost method. In fact, the Company has opted to use the revaluation method since 1999; however, at the moment the management believes that the revaluation method used to valuate property, plant and equipment and leasehold right on land and building is no longer necessary due to the much more positive financial status of the company. Thus, it is no longer necessary to show the shareholdersû equity growing bigger with the surplus on revaluation of assets in maintaining an appropriate debt to equity ratio. Furthermore, available current data makes the management believe that the appraisal values by the market approach and depreciated replacement cost of an independent appraiser, especially golf course and construction, are incapable of reflecting appropriate fair value. For the two reasons above and the fact that the Accounting Standard No. 16 çProperty, Plant and Equipmenté (revised 2007) (former TAS 32) has set 2 options for the method of valuation, i.e. the historical cost method and the revaluation method, it is then appropriate to change the Companyûs accounting policy for the valuation of property, plant and equipment and leasehold right on land and building from the revaluation method to the historical cost method from quarter 2 of 2008 onwards. The change in accounting policy above was approved by the Companyûs directors on June 27, 2008. The restatement has an effect on reducing the total assets and shareholdersû equity of the Companyûs consolidated and separate financial statements by the same amount as at January 1, 2008 and 2007 of Baht 672,966,017 and Baht 670,543,517, respectively. 12. LEASEHOLD RIGHT - NET This account consist of: Consolidated Financial Statements / The Companyûs Financial Statements Only

Balance, as at December 31,2008 Rental and car park service business Cost - Leasehold right - Utilizable right on building and improvement Total cost Less accumulated amortization - Leasehold right - Utilizable right on building and improvement Total accumulated amortization Net

Addition

(Baht)

Balance, as at December 31,2009

Deduction

70,562,990 79,412,563 149,975,553

-

-

70,562,990 79,412,563 149,975,553

(48,136,259) (59,366,952) (107,503,211) 42,472,342

(2,187,974) (1,955,669) (4,143,643)

-

(50,324,233) (61,322,621) (111,646,854) 38,328,699

Since 1986, the Company entered into an agreement with Chulalongkorn University to lease a plot of land on which its office buildings are situated. Under the agreement, the Company had to pay a leasehold right of Baht 65.8 million, whereby Baht 2 million was already paid on the agreement date. The remaining amount (presented as a part of long-term liabilities in the balance sheet and the consolidated balance sheet) is payable in annual installments over the lease term of 30 years, commencing in March 1989. In addition, the Company has to transfer ownership in all constructions thereon to the lessor when the lease expires in 2019. 13 INTANGIBLE ASSETS - NET This account consist of: Consolidated Financial Statements / The Companyûs Financial Statements Only

Balance, as at December 31,2008 At - Cost Computer software Less Accumulated amortization Net 14. DEPOSIT PLEDGED AS COLLATERAL This account consist of:

3,350,814 (2,167,727) 1,183,087

Addition

Deduction

352,002 (649,017) (297,015)

(Baht)

Balance, as at December 31,2009 -

3,702,816 (2,816,744) 886,072

Baht Consolidated Financial Statements

Cash at bank - Savings account Cash at bank - Fixed deposit - 12 month Total

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As at December 31, 2009 2008 40,748,955 33,441,443 3,620,266 2,522,213 44,369,221 35,963,656

The Companyûs Financial Statements Only

As at December 31, 2009 2008 40,745,187 33,441,443 3,620,266 2,522,213 44,365,453 35,963,656


Savings account and fixed deposit accounts bear interest at floating rates which are set by banks. As at December 31, 2009 and 2008, the Company and its subsidiaries have savings accounts of Baht 40.65 million and Baht 33.16 million, respectively (Baht 40.65 million and Baht 33.16 million, respectively for the Company only) and fixed deposits, 12 months of Baht 3.55 million and Baht 2.30 million, respectively (Baht 3.55 million and Baht 2.30 million, respectively for the Company only) are pledged as collateral with a bank in order to provide letter of guarantee. Issued bankûs letter of guarantee to a government agency is used to guarantee infrastructure in the new developing property project of the Company and its subsidiary. 15. OTHER NON-CURRENT ASSETS - NET This account consist of: Baht Consolidated Financial Statements

Withholding tax deducted at source Deposit and guarantee Land - non operating Total Less allowance for devaluation of land Total

As at December 31, 2009 2008 2,285,631 2,013,141 17,610,390 17,610,390 19,896,021 19,623,531 (17,610,390) (17,610,390) 2,285,631 2,013,141

The Companyûs Financial Statements Only

As at December 31, 2009 2008 2,074,381 1,801,891 2,074,381 1,801,891 2,074,381 1,801,891

As at December 31, 2009 and 2008, a subsidiary company has non operating land of Baht 17.61 million in value, of which Baht 6.15 million was bought from the Company. The land serves as roads and public utility at the Companyûs project development. Hence, the land is legally owned by the subsidiary but is of no future economic benefit to the subsidiary as normal course of business. This causes the management consideration to set up the fully impairment of such land at the obtained date of the land in 2006. 16. BANK OVERDRAFTS AND SHORT-TERM LOANS FROM FINANCIAL INSTITUTIONS This account consist of: Baht Consolidated Financial Statements

Bank overdrafts Short - term loan from financial institution Total

As at December 31, 2009 2008 639,889 7,077,779 40,000,000 639,889 47,077,779

The Companyûs Financial Statements Only

As at December 31, 2009 2008 639,889 6,823,075 40,000,000 639,889 46,823,075

As at December 31, 2009 and 2008, the Company and its subsidiaries have overdraft lines with several local banks totaling Baht 134 million and Baht 134 million, respectively (Baht 132 million and Baht 132 million, respectively for the Companyûs only) with interest at minimum overdraft rates. The above bank overdrafts are collateralized by the Companyûs assets pledged or mortgaged as discussed in Note 7, and are additionally guaranteed by certain shareholders. As at December 31, 2008, the Company has short-term loan credit line from a financial institution as promissory notes 3 month amounting to Baht 40 million (carrying interest at the floating rate at 6.37-9.75% per year). The above short-term loans from financial institutions are partially collateralized by the Companyûs assets pledged or mortgaged as discussed in Note 7. 17. ADVANCES FROM DIRECTOR This account consist of: Baht Consolidated Financial Statements

Balance, beginning of years Additional loan during the years Deduction from payment during the years Balance, ending of years

As at December 31, 2009 2008 35,825,824 16,685,041 23,646,200 40,765,898 (32,925,055) (21,625,115) 26,546,969 35,825,824

The Companyûs Financial Statements Only

As at December 31, 2009 2008 35,825,824 16,607,772 23,646,200 39,055,048 (32,925,055) (19,836,996) 26,546,969 35,825,824

Advances from directors have no interest charge and due at call.

Annual Report 2009 M.K. Real Estate Development Plc.

77


18. SHORT - TERM LOANS FROM OTHERS This account consist of: Baht Consolidated Financial Statements

Balance, beginning of years Additional loan during the years Deduction from payment during the years Balance, ending of years

The Companyûs Financial Statements Only

As at December 31, 2009 2008 10,000,000 10,000,000 (4,000,000) 6,000,000 10,000,000

As at December 31, 2009 2008 10,000,000 10,000,000 (4,000,000) 6,000,000 10,000,000

As at December 31, 2009 and 2008, the Company has promissory notes with other person carrying interest at the rate of 8% per year and due at call. 19. OTHER CURRENT LIABILITIES This account consist of: Baht

Deferred income from customers Balance, beginning of years Additional during the years Deduction during the years Balance, ending of years Retention Balance, beginning of years Additional during the years Deduction during the years Balance, ending of years Advance received : Utilities maintenance fee Balance, beginning of years Additional during the years Deduction during the years Balance, ending of years Accrued interest expense Accrued expenses Withholding tax Others Total

Consolidated Financial Statements

The Companyûs Financial Statements Only

As at December 31, 2009 2008

As at December 31, 2009 2008

88,621,042 315,093,429 (335,303,074) 68,411,397

58,123,969 493,289,357 (462,792,284) 88,621,042

86,302,099 254,873,511 (273,774,214) 67,401,396

54,192,488 359,452,815 (327,343,204) 86,302,099

47,758,153 16,075,376 (15,952,254) 47,881,275

43,954,462 18,483,753 (14,680,062) 47,758,153

45,745,959 15,876,430 (14,704,056) 46,918,333

42,515,456 17,638,302 (14,407,799) 45,745,959

91,076,270 27,483,477 (20,916,929) 97,642,818 165,862 26,976,131 20,122,656 12,631,218 273,831,357

76,052,200 26,959,230 (11,935,160) 91,076,270 1,039,401 25,590,600 20,807,631 13,818,207 288,711,304

88,382,174 26,670,525 (20,843,489) 94,209,210 157,577 26,940,131 20,110,553 12,299,778 268,036,978

75,159,760 25,157,574 (11,935,160) 88,382,174 1,039,401 25,554,600 20,736,860 13,499,725 281,260,818

20. LONG - TERM DEBTS - NET This account consist of: Baht Consolidated Financial Statements

Loans from banks Restructured loans Leasehold right, payable in annual Installments up to March 2018 (Note 12) Total Less : portion due within one year Net

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The Companyûs Financial Statements Only

As at December 31, 2009 2008 468,065,496 797,702,346 225,952,530 319,495,758

As at December 31, 2009 2008 438,419,496 797,702,346 225,952,530 319,495,758

27,550,000 721,568,026 (16,894,663) 704,673,363

27,550,000 691,922,026 (16,894,663) 675,027,363

30,250,000 1,147,448,104 (108,844,428) 1,038,603,676

30,250,000 1,147,448,104 (108,844,428) 1,038,603,676


Long-term debts was changed during the year as follow : Baht Consolidated Financial Statements

As at December 31, 2009 2008 1,147,448,104 1,536,447,513 649,626,945 866,551,734 (1,075,507,023) (1,255,551,143) 721,568,026 1,147,448,104

Balance, beginning of years Additional loan during the years Deduction from payment during the years Balance, ending of years

The Companyûs Financial Statements Only

As at December 31, 2009 2008 1,147,448,104 1,479,421,113 619,980,945 843,552,734 (1,075,507,023) (1,175,525,743) 691,922,026 1,147,448,104

≥As at December 31, 2009 and 2008, the Company has long-term loan credit line from several local banks totaling Baht 2,302.59 million and Baht 2,925.07 million, respectively. The above long-term loan are collateralized by the Companyûs assets pledged or mortgaged as discussed in Note 7, and personally guaranteed by certain shareholders. Under certain loan agreements, the Company carried interest on long-term financial institutions at the rate of MLR (4.85-9.75% and 5.75-8.00% per year, respectively). The Company has to repay the loans when the payments are made from its customers on the dates which real estate title deeds are transferred to the customers. However, the Company did not forecast the portion of the long-term loans, which is expected to be repaid within the next one year for presenting under the current liabilities in the balance sheet as at December 31, 2009 and 2008. Restructured loans are as follows : Baht Consolidated Financial Statements and The Companyûs Financial Statements Only

Local bank Local bank

As at December 31, 2009 2008 310,920,585 225,952,530 -

8,575,173

225,952,530

319,495,758

Interest Rate

Conditions

MLR

Repayment according to sales. The Company shall repay the loan within year 2011. Year 1-3 Rate 5% Repayment according to sales. The Company Year 4 onwards MLR shall repay the loan within April, 2009.

Loans as per said debt restructuring agreements were personally guaranteed by certain directors and collateralized by parts of the Companyûs assets pledged or mortgaged as discussed in Note 7 and 11. Under the terms of the agreements, the Company shall comply with the conditions of agreements. 21. HIRE-PURCHASE CONTRACT PAYABLE - NET This account consist of : Baht Consolidated Financial Statements and The Companyûs Financial Statements Only

Within one year After one year but Within five years Total

As at December 31, 2009 Principle Interest Payments 432,296 22,629 454,925 164,002 596,298

6,482 29,111

170,484 625,409

As at December 31, 2008 Principle Interest Payments 683,619 57,659 741,278 596,298 1,279,917

29,111 86,770

625,409 1,366,687

The Company has hire-purchase agreement to purchase motor vehicles from local leasing companies, with a term of payment in 2 - 4 years, and repaid in monthly, with certain conditions and restrictions as specified in the hire-purchase agreement. Liabilities under hire-purchase agreement for the portion due within one year were shown under çcurrent liabilitiesé in the balance sheet. 22. LEGAL RESERVE / TREASURY SHARES RESERVE 22.1 Legal reserve Under the provision of the Public Limited Companies Act B.E.2535, the Company is requires to appropriate at least 5% of its annual net income after deduction of the deficit brought forward (if any) as reserve fund until the reserve reaches 10% of the authorized share capital. The reserve has already reached 10% of the authorized share capital.

Annual Report 2009 M.K. Real Estate Development Plc.

79


22.2 Treasury shares reserve The movements of treasury shares reserve for the years ended December 31, 2009 and 2008, comprise the following: (See Notes 23) Baht Consolidated Financial Statements

The Companyûs Financial Statements Only

As at December 31, As at December 31, 2009 2008 2009 2008 Balance, beginning of years Additional during the years 11,548,084 11,548,084 Balance, ending of years 11,548,084 11,548,084 23. TREASURY SHARES / APPROPRIATED RETAINED EARNINGS FOR TREASURY SHARES By the resolution of the extraordinary shareholdersû meeting no. 1/2008, held on January 19, 2009, the Company has been approved to repurchase its shares for financial management purposes, under the share repurchase scheme, within the limitation of Baht 95 million or 85 million shares, equivalent to 9.81% of the total issued and paid-up shares of the Company. The period for the repurchase of the shares is from February 3, 2009 to August 2, 2009 and the resale period will be February 3, 2010 until August 3, 2012 (after 6 months from the completion date of the share repurchase and not exceed 3 years). In the event that the Company is unable to dispose of all repurchased shares within the set period, the Company is to reduce its paid-up capital by writing-off the remaining unsold repurchased shares. According to letter No. Gor Lor Tor. Chor Sor. (Vor) 2/2548 of the Office of the Securities and Exchange Commission dated February 14, 2005, concerning the acquisition of treasury shares, a public limited company may buy back treasury shares in an amount not exceeding the amount of its retained earnings and has to appropriate an equal amount of retained earnings to a reserve for treasury shares, which must be maintained until the Company either sells the treasury shares or reduces its paid up share capital by an amount equal to the value of the treasury shares which it could not sell. As at December 31, 2009, the Company has already appropriated the full required amount of retained earnings to a reserve for the treasury shares. 24. DIVIDEND At the Board of Directors meeting No. 3/2009 held on August 13, 2009, the board unanimously approved the interim dividend payment from the earnings for the six-month period ended June 30, 2009. The rate of dividend is at Baht 0.10 per share, to be paid to existing shareholders of 860,384,157 shares (Total shares of 866,684,157 shares less treasury shares of 6,300,000 shares), totaling Baht 86,038,415.70. Interim dividend payment was paid to shareholders on September 11, 2009. However, dividends of Baht 5,170.00 were not paid to certain shareholders due to disqualification. The remaining dividends of Baht 86,033,245.70 were paid during this period. At ordinary meeting of shareholderûs No.1/2009 held on April 29, 2009, the shareholders passed the resolution as follow : Approved the dividend payment for the operation from January 1 to December 31, 2008, by the share register closing on April 8, 2009. The rate of dividend is at Baht 0.15 per share, to be paid to existing shareholders of 866,034,157 shares (Total shares of 866,684,157 shares less treasury shares of 650,000 shares), totaling Baht 129,905,123.55. Dividend payment will be paid to shareholders on Friday, May 29, 2009. However, dividends of Baht 7,755.00 were not paid to certain shareholders due to disqualification. The remaining dividends of Baht 129,897,368.55 were paid during this period. At ordinary meeting of shareholderûs No.1/2008 held on April 29, 2008, the shareholders passed the resolution as follow : Approved the dividend payment for the operation from January 1 to December 31, 2007, by the share register closing on April 8, 2008 at 12.00 oûclock. The rate of dividend is at Baht 0.14 per share, to be paid to existing shareholders of 866,684,157 shares, totaling Baht 121,335,781.98. Dividend payment will be paid to shareholders on Friday, May 29, 2008. However, dividends of Baht 8,638.00 were not paid to certain shareholders due to disqualification. The remaining dividends of Baht 121,327,143.98 were paid during this period. 25. CORPORATE INCOME TAX The Company and its subsidiary computed corporate income tax to the revenue and expense recognition in accordance with the Revenue Code and the Revenue Department principles re: Por. 61/2539 regarding computing of net profit and net income for real estate business, which differs from generally accepted accounting principle adopted in some cases, such as recognition of revenue and cost of sales, etc. In the year 2008, the Company computed corporate income tax, for projects launched in or after 2007, based on the principle of revenue and expense recognition in accordance with the Revenue Code and Instruction of the Revenue Department No. Tor.Por. 155/2549 regarding the calculation of revenue and expense of a company or partnership based on the accrual basis, in which revenues are recognized under the percentage of completion method, which is the same basis as the accounting principle as follow ; Policies :Revenue from sales and cost of sales

80

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Revenue Department principles Projects launched after 2007 - Recognizing revenue based on Percentage of completion method Projects launched before 2007 - Recognizing revenue based on due installment (Por.61/2539) - Recognizing revenue based on due installment with exemption granted from debt restructuring (Royal decree (issue 433) B.E.2548) - Revenue from sales of which appraisal price is higher than selling price

The Companyûs Accounting policies Recognizing revenue based on percentage of completion method


Baht Consolidated Financial Statements

December 31, 2009 771,819,879 (8,437,944) 5,242,100 802,386 (2,393,458) (10,925,353) 758,501,068

The Companyûs Financial Statements Only

December 31, 2009 750,013,166 (8,437,944) 5,242,100 802,386 (2,393,458) (10,892,469) 736,727,239

Net profit before income tax per book Add: Sales revenue : Por. 61/2539 Sales revenue of which appraisal price exceeds selling price Add back expense Less: deductible expense Net profit before income tax per tax Less: Corporate income tax The Company at the rate of 25% (Only profit not over Baht 300 million) (75,000,000) (75,000,000) at the rate of 30% (131,018,172) (131,018,172) (Royal decree (issue 475) B.E.2551 ending year 2010) Subsidiary at the rate of 30% (6,532,149) Net profit after income tax per tax 545,950,747 530,709,067 26. FINANCIAL INSTRUMENTS As at December 31, 2009 and 2008, the Company and its subsidiaries did not speculate in or engage in the trading of any derivative financial instruments. Liquidity Risk Liquidity risk arises from the problem in raising adequate funds in time to meet commitments as indicated in the financial statement. Based on the assessment of the company and its subsidiariesû current financial position and results of operations and their forecasted financial information, the Company and its subsidiaries are not facing liquidity risk. Credit Risk Credit risk is the risk that the counterparts are unable or unwilling to meet a commitment that they entered into with the company and/or subsidiaries. This risk is controlled by several method such as the application of credit approvals, limits and monitoring procedures, selling on the condition of having asset and personal guarantee on each contract with a client, and transferring the credit risk directly to a financial institute. As revealed on the Company and its subsidiariesûs balance sheet and the Companyûs balance sheet, the Company and its subsidiaries are not encountering the credit risk. Interest Rate Risk Interest rate risk is the risk that future movements in market interest rates will affect the results of the Company and subsidiariesû operations and their cash flows. The Companyûs and subsidiariesû exposure to interest rate risk relates primarily to their deposits with banks and loans. However, deposits with banks and loans carry floating interest rates, and the Company and subsidiaries therefore do not use derivative financial instruments to hedge such risk. Foreign Currency Risk The Company and its subsidiaries is not exposed to the foreign currency risk because there is not any engagement in the foreign currency. Fair value of Financial Assets and Liabilities Fair value is defined as the amount that could be exchanged in a current transaction between knowledgeable willing parties in an armûs length transaction. Fair values are obtained from quoted market prices, discounted cash flow models or net asset values as appropriate. The following methods and assumptions are used to estimate the fair value of each class of financial assets and liabilities: Cash and cash equivalents, accounts receivable and payable, and bank overdrafts and short-term loans from financial institutions - the carrying values approximate their fair values due to relatively short - term maturity of these financial instruments. Long-term loans carrying a floating rate which is considered to be market rate - the carrying value approximates their fair value.

Annual Report 2009 M.K. Real Estate Development Plc.

81


27. EARNINGS PER SHARE Basic earnings per share is calculated by dividing the net income attributable to equity holders of the parent company for the year by the weighted average number of ordinary shares issued and paid-up during the year. Weighted average number of ordinary shares is calculated by net of ordinary shares from treasury shares held by the Company, as discussed in Note 23 to the financial statements. Baht In Shares Baht per share Net income (loss) Weighted average number of ordinary shares Earning (loss) per share For the years ended December 31, For the years ended December 31, For the years ended December 31, 2009 2008 2009 2008 2009 2008 Consolidated financial statements Earnings per share Number of ordinary shares 863,424,783 866,684,157 Net income 539,774,082 404,262,989 0.63 0.47 Baht In Shares Baht per share Net income (loss) Weighted average number of ordinary shares Earning (loss) per share For the years ended December 31, For the years ended December 31, For the years ended December 31, 2009 2008 2009 2008 2009 2008 The Companyûs financial statement only Earnings per share Number of ordinary shares 863,424,783 866,684,157 Net income 543,994,994 393,535,543 0.63 0.45 28. CONTINGENT LIABILITIES AND COMMITMENTS As at December 31, 2009 a) The Company and its subsidiary were contingently liable to banks for bank guarantees issued in favor of some government agencies totaling Baht 169.94 million. (Baht 155.75 million for the Companyûs only). b) The Company has promissory note of Baht 69.68 million, payable to a land owner, which avaled by a financial institution. c) The Company had several agreements to purchase land. The commitment under said agreements amounted to Baht 27.65 million of which Baht 5.05 million was paid as deposit. d) The Company had guaranteed the long-term loan of a subsidiary company amounting of Baht 21.59 million and a foreign associated company in the amount of Baht 14.25 million. 29. SEGMENTATION OF BUSINESS INFORMATION Business segment information of the Company and its subsidiaries is presented as follows:For the year ended December 31, 2009 (In Baht) Rental and car Golf Elimination Real Estate park service Total Consolidated course DR. CR. Sales 2,438,547,339 - 2,438,547,339 (10,611,700) - 2,427,935,639 Rental and car park service income 14,985,446 14,985,446 (32,400) 14,953,046 Golf business income 54,200,159 54,200,159 54,200,159 Total sales and service income 2,438,547,339 14,985,446 54,200,159 2,507,732,944 2,497,088,844 Gross Profit 990,857,802 10,841,803 20,943,089 1,022,642,694 1,014,920,120 Other income 25,763,715 (10,076) 25,753,639 Selling expenses 65,101,164 65,101,164 Administrative expenses 169,112,194 - 169,112,194 Management benefit expenses 37,076,187 37,076,187 Share of profits (loss) from investments, using the equity method 2,464,087 (15,424,335) 8,569,777 (4,390,471) Finance costs 11,981,985 11,981,985 Income tax expenses 212,550,321 - 212,550,321 Net income 555,048,645 540,461,437 As at December 31, 2009 108,621,140 - 683,714,657 792,335,797 - 792,335,797 Property, plant and equipment - net Leasehold right on land and building 38,328,699 38,328,699 38,328,699 Other assets 5,156,293,969 - 5,156,293,969 Total assets 5,986,958,465 5,986,958,465

82

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Real Estate

Rental and car park service 15,099,478 15,099,478 10,955,835

For the year ended December 31, 2008 (In Baht) Elimination Golf Total course DR. CR. - 2,131,820,775 (45,662,980) 15,099,478 (32,400) 56,574,713 56,574,713 56,574,713 2,203,494,966 23,685,513 834,069,073 23,578,781 (552,900) 72,256,799 177,098,139 31,570,932 -

Consolidated

Sales 2,131,820,775 - 2,086,157,795 Rental and car park service income 15,067,078 Golf business income 56,574,713 Total sales and service income 2,131,820,775 2,157,799,586 Gross Profit 799,427,725 836,020,479 Other income 23,025,881 Selling expenses 72,256,799 Administrative expenses - 177,098,139 Management benefit expenses 31,570,932 Share of profits (loss) from investments, 36,667,446 (33,284,751) 3,382,695 using the equity method Finance costs 20,362,997 20,362,997 Income tax expenses 155,374,706 - 155,374,706 Net income 437,651,727 405,765,482 As at December 31, 2008 Property, plant and equipment - net 108,586,228 - 696,824,501 805,410,729 - 805,410,729 Leasehold right on land and building 42,472,342 42,472,342 42,472,342 Other assets 5,318,520,338 - 5,318,520,338 Total assets 6,166,403,409 6,166,403,409 30. RECLASSIFYING FOR PRESENTATION OF FINANCIAL STATEMENT 30.1 Certain amounts in financial statements for the year 2008 have been reclassified to conform to the current yearûs presentation and classification, with no effect on previously reported net income or shareholderû equity. Baht Consolidated Financial Statements

Balance sheets as at December 31, 2008 Inventories - net Land for development and for sales - net Property, plant and equipment - net Intangible assets

The Companyûs Financial Statements Only

As reclassified

As previously reported

As reclassified

As previously reported

3,301,625,795 1,784,631,867 805,410,729 1,183,087

5,086,257,662 806,593,816 -

3,214,364,510 1,762,476,226 805,406,601 1,183,087

4,976,840,736 806,589,688 -

30.2 Certain amounts in the financial statements for the year ended December 31, 2008 have been reclassified to conform to the current yearûs classification but with no effect on previously reported net income (loss) or shareholdersû equity. The reclassifications are as follow: Baht Consolidated Financial Statements

Statements of income for the year ended December 31, 2008 Selling and administrative expenses Selling expenses Administrative expenses Directorsû remuneration Management benefit expenses Interest expenses Finance costs

The Companyûs Financial Statements Only

As reclassified

As previously reported

As reclassified

As previously reported

72,256,799 161,695,184 31,570,932 20,362,997

261,673,075 7,066,725 17,146,112 -

71,154,845 159,781,308 30,987,332 18,861,593

258,657,245 6,483,125 15,644,708 -

31. APPROVAL OF FINANCIAL STATEMENTS These financial statements have been approved by the Companyûs directors on February 16, 2010.

Annual Report 2009 M.K. Real Estate Development Plc.

83


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MK : Annual Report 2009  

Annual Report 2009