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9


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â&#x20AC;¢ #, "# 3" 4+3  ,#&6 *"$/-  &  -* ,#&6 3" # 4 &&$-"*  &$-/"$ 4#4      #*"B'$   $ "F&" ,+      /  & '  #*E ! / ,+  ' &  '(EF 9,  >#8&'">&$( && %'& *+#* ->#"*+&  *+ # ' E ' *+#"# ,+  ->#"*+&=+&& -(# *#<,8 %' L  % &  #*"9*B "B>*+ EOB  $( #, & )L B #$ !  â&#x20AC;¢ "+ "+7742$ 3"$    /   ,8 L % &-D# # '->#<,+ "" <=+& &(>"(&E *( EF #*"(> "*(# 8&EF 9,  F-  &  & '   ># >#8&  " "  '( &-'"9 )=(& H 

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Annual Report 2013

10


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3"  1,695.68 81.96 1,269.68 78.60 1,240.37 80.17 39.59 1.91 18.78 1.16 10.84 0.70 66.15 3.20 80.90 5.01 86.21 5.57 19.72 0.95 20.81 1.29 13.62 0.88 86.42 4.18 50.79 3.14 48.20 3.12 90.96 4.40 85.10 5.27 73.39 4.74 56.61 2.74 74.11 4.59 59.61 3.85 13.71 0.66 15.11 0.94 14.96 0.97 2,068.84 100.00 1,615.28 100.00 1,547.20 100.00

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F  *   *+ >  & &   >% "   *+ $     '*+ '& -&" & % &  >% >-'-/ % &QR 

Annual Report 2013

11


     2. #,E      $- #F &$-+#G : 2509 7 :2539  2509 -  * ( 8& â&#x20AC;&#x153; ' . - <  :   " / â&#x20AC;?  2517 - "#-' , ! "#$#% 3 % &   2522 - *+ '&$,+ ! â&#x20AC;&#x153; ' . - < / â&#x20AC;?  2534 -  "#% &  # !      2536 -  "#% &  # !  *  2537 - '"B! #$ / '+#  *  200    ! 600    : 2540 7 : 2552  2540 - ' %% &-,+ %" "(> 9,  % &$>(&$ #  25 !   49 % &/ >  *+

/ ( 8&# '  * +# ! H  2542 - +#  * ! 1,785    ,+  &$ "% &"/-'" &"*+<,8  "#$ *+ 1 '$ *+ 2 <=+& #

 ' >#,+ > *+ 14  >-# 2544 '> *+ 14  >-# 2545 #/   2545 - +#  * ! 2,414.16    ,+ <,8  "#/ >   99.99 % &  $/' >% & Indosuez W.I. Carr Securities (Thailand) Limited <=+& <,8  &(>#,+ > *+ 22 # 2545 ( # *+ $,+ ! â&#x20AC;&#x153;  * / â&#x20AC;? ' â&#x20AC;&#x153;  < / â&#x20AC;? #/  - +#  * ! 4,916.51    ,+  &$ "% &"/-'" &"*+<,8  "#$ *+ 3 '$ *+ 4 <=+& #

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errill Lynch Holdings (Mauritius) - -D#/' #   "<,8 %(>&  '( '+#    "<,8 %(>& B!  <,8 %"<,8 %(>&  Annual Report 2013

12


- >&- & #% " ' % &-D#/  '  

     ' . <=+&!  *+"#9  -B '( - "/ & -D#/'    +# B

/ ( - K '->>#"%/ > 4 "% : 2552 - & +##   &  :# ;<* / (#$ ) >#!   22.5 % &   * % &  &(> #*E  &(>*+ "9 ! (># - K "%+##/ > 16 "% 'K '->>#"%/ > 3 "% -    * *+& #( *$/ / > 4,916.51     -&, 4,195.89       "#*+& #( / (/ > 720.62    -   $/' > / > 4,195.89     -&, 4,038.14      / >   &/ > 157.75    ,+ $ $E%  ""# D > *+ 30   2551 <=+&#*/ > 157.75    -   $/ ' > / > 4,038.14     - &, 2,300.00      / >   &/ > 1,738.14    ,+ -, &  &"(> / > 1,738.14     '(EF 9,  - *+ '&$,+  * % &    # â&#x20AC;&#x153;       ' . - < /  (#$ )â&#x20AC;? ! â&#x20AC;&#x153;       - *+ . / (#$ )â&#x20AC;? -   $/' > / > 2,300.00     -&, 1,866.37      / >   &/ > 433.63    ,+ $ $E%  ""# D > *+ 30 #9  2552 / > 433.63    -

'" % "#+# #( / > #( 466.59    #F-(*+ >   1.00   '(EF 9,   ## " "(> 9,    4   # ( 1  #(  -  1.30  -

'" %"/-'" &"*+<,8  "#% & ( *+ 5 / > #( 466.59    (>  '(EF 9,   #*+  &<,8  "#+# '  "   1  "##( ( 1  (>"/-'" &"   #(- #F-( 8& *8 "/-'" &" 1  (> "#9$ "<,8  "# 1   -  1.50  -

'" %"/-'" &"*+<,8  "#% &  '(# EF   & '/, *+=% &  #-& ESOP -8&*+ 1 / > #( 350.00    (>   #(- #F-( 8& *8 "/-'" &" 1  (>  "#9$ "<,8  "# 1   -  1.50  - +#  * / > 1,866.37    ! 3,149.55     

 "##(/ > 1,283.18    #F-(*+ >   1.00  : 2553 -  * +#  $/' > / > 1,866.37    ! 2,330.76    #,+ > *+ 25 #-# 2553 - '(&8& . "b )*">D !    *+ ' * $  *+ 

  #*E '(> *+ 7   2553 - '(&8& &">"   I " ! # (#* /   ) ' * $  *+ 

  #*E '( > *+ 29   2553 - '(&8& &"> $  D>D ! EF /&/' (&"F&" "$*'& 'EF / > >""  $*' & ' &"> #* -&>I )L  &#EF   " $* '&  #*E   '(> *+ 1 f) 2553

Annual Report 2013

13


: 2554 - '(&8& . "b )*">D !    *+  #*E '(> *+ 1 fB-# 2554 - '(&8& &"> $  D>D ! EF /&/' (&"F&" "$*'&  #*E '(> *+ 1 # 2554 - '(&8&/>*>*& $,+ B *! # ( #(#* /   ) ' #*+ 

  #*E '(> *+ 23 f) 2554 - '(&8&    >"L)" ! # " ' #*+ 

 #*E '(> *+ 23 f) 2554 : 2555 - '(&8&  ##*+ $  ! # ( #(#* /   ) ' ) $ )> > *+ 

  #*E '( > *+ 29 fB-# 2555 - '(&8& $ $ BD ! #EF     #*E '(> *+ 1 fB-# 2555 ''(&8&! # #* E '(> *+ 29 fB-# 2555 - +# $/' >/ > 2,330.76    ! 2,330.81    $ "<,8  "#% &"/-'" &" $ *+ 5 <=+& #

 ' >#,+ > *+ 18 #-# 2556  $- #F &$-+#G*: 2556 - K "%+##/ > 1 "% 'K '->>#"%/ > 1 "% -    * *+& #( *$/ / > 3,149.55     -&, 2,330.81       "#*+& #( / (/ > 818.74    - +#  * / > 2,330.81    ! 3,189.79     

 "##(/ > 858.98    #F-(*+ >   1.00  -  * +#  $/' > / > 2,330.81    ! 2,589.74    #,+ > *+ 21 fB-# 2556 - '(&8& &">"   I " ' $ $ BD !    *+ ' ."b )*">D *+

   #*E '(> *+ 1 f) 2556 - '(&8& ">$    ! #EF  (  #*E '(> *+ 1 f) 2556 - '(&8& )Bf $-"% &) ! #EF   "" 4 ' ">$     #*E '(> *+ 1 f) 2556 - '(&8& $ $ BD ! # ( #(#* /   ) ' ."b )*">D *+

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 D%#& # (  /   !  <,8 % ! >' <=+&/ *+!   <,8 %  F- 8&--#  -- '"9 & (&H >#9=& & '  & 8&B )' (&) #*$( &&"(&-/"+&<,8 % 8&"(&-/"(&<,8 % &  *+ , "(&-/"+&<,8 % &) &  *+ *+ -/'  /& '-/"+&<,8 %*+/ F(*+"/ & ('/ , "/ & "%+>) 8& *8  &#*"(&-/"+&<,8 %E(     : F- "#9"(&-/"+&<,8

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Annual Report 2013

14


 #*"(> '(& '#F-(<,8 %  3 *+E( #M#&(  *8 / " /" 2 D%#& # ( 2 D%  '(&)  (  ) ># Proprietary Trading  #( (  )># Proprietary Trading

 #F-(<,8 % (  ) #(># Proprietary Trading

: 2556 11,777,210.10

: 2555 7,615,637.96

: 2554 7,040,457.88

553,458.69

298,928.56

151,022.76

12,330,668.79

7,914,566.52

7,191,480.64

1,070,610.18

761,872.92

641,153.51

4.97%

5.43%

5.13%

 /" (%)



#2  #/ D%#& # (*2   #*  ->#"/ - "(& " #'"  "  %L EF &      '#* / 

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% :&*+>F-  > ! D  >#9=& /    *+ EF <=+& F'F-  #* *+ &/->#F F-  '# (  /"  ,+   /" ! #>9"&- & L & % / % &F- 8&   & &,+ % 'F'&  / EF #* /  #K $*' #>&& <,8 % ,+  D#*->#9F &#"# > :> '#*"B#+&%=8 &&(  *8 #/ #( 2    #( 20    #( 30    #( 50    #( 150    150   %=8 

42$+#/ EF  "-  , EF "F&" % &"% , "F&>( EF "F&" "" "   , "F&>( #EF  "" "   , "F&>( #EF  (, "F&>( -D#D>&& <,8 % , "F&>( -D#

-D#D>&& <,8 %% &   > 1. # 3 ( 2. #EF  ( 1 ( 3. EF "F&" % &"" 2 ( 4. EF "F&" % &""   1 ( 5. EF "F&" % &QR->#"*+& 1 ( Annual Report 2013

15


 #% &-D# D>&&  9, ! # #,+ ##* &# : $ (># #( >( -=+ & =+ &% & #EF % (>#$#  +" (%#& # (    &8 -D#->#"*+&/ *+D$,+ ' #8 +# ,+  F - "#9<,8

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"<,8 %(>& +#!  "(>  =+&% & <=+& #* % &  <,8 %"<,8 %(>&   F- % & (&(  ,+ &   D "8  2556 #*$*F-  / > 3,100 $* <=+&#D+#%=8 % &$*F- "F&%=8   2555 9=&  20  '(F- % &  <,8 %"<,8 %(>&  8 F- "#9"(&-/"+&<,8 %E(   *+

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Annual Report 2013

16


"<,8 %(>& '(&)  K  /<,8 %8&'(> 9.45 â&#x20AC;&#x201C; 22.30 .  " - *+K  #*<,8 % $(>&-+/ '(  &-/(Gold) & (Silver) ' 8/#   (Brent Crude Oil) -,  $(>&> 19.30 â&#x20AC;&#x201C; 22.30 . ,+ +#$( && &   & *+ #&  "<,8 %*+ & &" - (&) "(&E #*#D<,8 %+##%=8  $(>&> &(>    K  <,8 %&    : $(>&> &(>'(F-  >$(  *> ,+ !  " &-># && % & F- '->& *+#G"& #( (Derivative Warrants) 2$- #*+#G"& #(  

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#D% #  6/9/2554 04/04/2555 05/04/2555 11/06/2555 12/06/2555 13/06/2555 18/02/2556 19/02/2556 20/02/2556 2102/2556 22/02/2556

#D% #"& 23/2/2555 07/12/2555 07/12/2555 07/12/2555 07/12/2555 08/03/2556 03/12/2556 03/12/2556 03/12/2556 03/12/2557 03/12/2557

# +" 29/2/2555 14/12/2555 14/12/2555 14/12/2555 14/12/2555 14/03/2556 11/12/2556 11/12/2556 11/12/2556 11/12/2557 11/12/2557

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17


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Annual Report 2013

18


1.2

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20


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21


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22


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28


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31


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 ->#E E> %    *8   $ * > & *8&'( K   #"*+ 3 'K #"*+ 3 *+ 1,383.16  ,  &K  -=+&'9=& 68.74  (& :# $ *  +##;Â&#x2022;Â&#x2013; >8&'( #"*+ 4 #,+   +>;Â&#x2022;Â&#x2013; >   ,+ &O %  QE +#<=#<-># &> ->& SET >"F&%=8 1,485.67  '&> ,   1,400 

(&(  ,+ & '' >O&#, &: #

    E E> (&  *-8& =+& "> &     *+&-&   " &"9"F&" #(   SET >&8&'(> *+ 21 -# 2556 #,+ L / "#$"BEF ' L'"#$>I"BE( (&$ # (",+ *>( ...  &E '" < )   ->#% ' &-QR-  '(#$$ / > # %&*+: >( L$ / "*&% &#E( ... &(> (&-, '-& !   (     %>  >& (&> &%>& (#(&H +>)<=+&9, ! MD*+ #(- %=8 #( % &>)"#, &  '! $ >  " , "D  &> -$O

! "#$"BEF ' q '"#$-$O ,+

# -,+ >&#, & (&:#> #*8&>* >&$ / % &L >#8&% ( L# * K "9 *+$ ' * & #*MF#, &   $$> $$ +>)

#'" &&#"9 *+(&H -,+ >& #, &% & " , "D'$$  "% $*>+ ) "#9

  L# *  #9 ... # ">( #( /#%  # "BEF ' q(   *8'&

 #>$$ *+

#   %> & % &",+ (&H # >(>#> % &$$ #*#D#!   - *+

#  %> (   L  ' >&% &' /-, " , "D *+ 8&(#-,+ >$ $,+ >( ".(-D#$$ ,+

*+ '&)  ! $ *+"#FD  #*#! #%) '*>#> % &$$ >( ! â&#x20AC;&#x153;#>#$$ â&#x20AC;? &

  L# *)"BEF ' q > *+ 9  >-# 2556 '/ > , 8&! 2 #B  2557 "9 D&#, & $# #% &(#(&H &-& /   (&% #% 

 "8 #"*+ 4  

  $ *  > &(  ,+ &  K *+ 1,298.71  <=+&!  , +/" % & 2556

Annual Report 2013

32


"& $*   2556 #* %  * <,8 %   / > 38 +#%=8 #>( 2555 *+#* %  * 24 

   2556 8 #F-( >#% & IPO F(*+#D 3.4 '"    /"9"F&" 8&'(  K

/   '#*  & -&" &,8 L BTSGIF !  IPO (*+"  BF#B- <*  *8   2556 

 "->#"/: 

 ( !   =+& <*  ,+ &*+"/- & *8 1. #F-(<,8 % J*+( > +#! #D 5.1 #,+    (, #D 1.6    *"L) "F&*+"

 BF#B- <* '"F&" ! >D 2. #F-( >#% & IPO F(*+#D 3.4 '"    /"9"F&" 8&'(  K

/  ' #*  & -&" &,8 L BTSGIF !  IPO (*+"  BF#B- <* 3. MSCI +# 5   -/ >D $ *% & MSCI Global Standard Indices <=+&! +#/ >  *+#*+"   $* 4. #* 3  * ! &-  $ * Dow Jones Sustainability Index (DJSI) #*+"  <* ' 5.  * &#*-' ASEAN CG Scorecard "F&"  BF#B- * > 4 "+   , #& "& $     9  ,  2556 * +     & >( #*/  >#"  608,669    +#%=8   7.98 $(>& *> ( #*

%># 8,024,417    +#%=8   4.27 8& *8  % #FE /  & 9  ,  2556 >((# "# 3  ' 8 (# "#*+#*/ "F&" '(  &  ' "&#'( " & "/#> *+#*/ "F&" 3  ' 27 #>  '( && Annual Report 2013

33


'"DFB-  - '- *"" )'",+ "  8& 3 #> #*/ "># 372,012    - !   61.12 % &/ ">#8&# '#*

%>#% &8& 3 #> 4,391,753    - !   54.73 % &

%># 8&#

/ "2D% () & :  "*: 2555 #&/   &  (> :    : 2546 2547 2548 2549 2550 2551 2552 2553 2554 2555 2556

#& # 20,238 6,236 (51,204) (12,757) 3,764 45,177 (2,303) (15,200) (29,149) (24,302) 108,163

#GL$ ,#& #& # ( (665) (3,146) (121) 1,084 (1,601) 924 1,388 (449) 1,307 7,256 (1,723)

#& / &' (24,609) 5,612 118,542 83,446 55,018 (162,346) 38,231 81,724 (5,119) 76,388 (193,911)

#&*  &' 5,036 (8,702) (67,217) (71,772) (57,181) 116,246 (37,316) (66,075) 32,962 (59,342) 87,471

" #-# #B  #* -# # fB-# #9  q-# "&-#   -# f)  >-#



#& # 4,472 15,360 12,153 6,263 3,356 28,618 (10,325) 11,370 12,219 (2,326) 10,071 16,931

#GL$ ,#& #& # ( (1,710) (837) 659 415 (2,913) (2,548) 1,671 (5,546) 6,790 2,524 2,454 (2,680)

#& / &' 15,037 (17,387) 6,244 (19,839) (5,147) (55,492) 498 (39,939) 9,606 1,168 (48,075) (40,584)

#&*  &' (17,799) 2,864 (19,056) 13,161 4,705 29,422 8,156 34,116 (28,615) (1,366) 35,550 26,333

108,163

(1,723)

(193,911)

87,471

 #F  -(  <,8 %( #   &  2556 >(  <,8 %"% &'((# & (&#*)&    2555 *+E( #  ( #   & (  &) #* 

%"   "F & 9= & ,  2 '"        & ( #"9 #* #F -(  <,8 %"    ! 

<,8 "   108,163    &*+#*

%"#

8&'( 2552 (# & (&)#* 

%""F&9=& 193,911    

<,8 ">( 7 #,+      2555 "(> (# &  )#*

<,8 " 87,471      #& # (: 2557 "/ 2557   8&N+##F-( ># * #( (IPO) ># 2.1 '"    '#F-( # +#   * 1.8 '"     *8&- >(#D<,8 %J*+( >   "<,8

%(>&  F(*+ 75,000 "'+#/ > $* <,8 %"   * 15,000 $* %D*+%EF & #(   * 80,000   *8 'E & (&H % &  *+#(& %L & "F( BF#B-  J (# ) GMS '( ) #F$  #(  > '>*  # ,+  "

- & AEC 8 ( ! O " "      #*' >& %% '#* "(  ,+ &#  *# '%(&%   2557 #* "*+#(&  %L  (&)#%=8 '( (& : * O#, &*+&-&, ,8

F( ("(&E   2557 #*' > #<<& 2556 ! O*+#*E"/-( B-)L'& % &)  /  % &(# & "B>'%(&% "F& "B>*+ & % ->#$,+ #+ '->##+  & =& &(&# (&H% & ,+  "#9" & "'E   '"#9 &*+ '&*+ %=8  - Annual Report 2013

34


/ //# &$-+#G GDP Growth(D --&*+ 2531) Market Capitalization (Btm) Market Turnover(Btm) <,8 %J*+( > (SET)

$ * K (High)

$ * K (Low) P/E (()

E ' & O E

2551 2.5% 3,568,223 3,919,874 15,870 884 384 7.01 6.57

2552 -2.3% 5,873,101 4,338,479 17,854 751 411 25.56 3.65

2553 7.8% 8,334,684 6,937,890 28,669 1,049 685 15.35 2.92

2554 0.1% 8,407,696 7,040,457 28,854 1,144 855 12.07 3.72

2555 6.5% 11,831,448 7,615,637 31,084 1,397 1,036 18.25 2.98

2556 2.8%(f) 11,496,765 11,777,210 48,070 1,643 1,275 14.60 3.24

Source: SET and CGS Note : Estimated figures and data at end of period

#,E 2- 7- &$- /" F-  % &  "( > (! ( #F - +>  8&- -# *+ ! - '(&$ "(> F-   --*+! "9 #*/ > #(#  # =+&&F- (  =+& ,   *+ (# (# =+&! )

L-/# &D%#& # ( (Sub Brokers) &$-+#-D%#& # (4 ,#&6 - #(#* #" 2* &' / &'   2556  #*" "(> F-  )'(&) & *8 + 2 #" 2 +  

$*& & % & F-  ) F- (&)



42 38,226 1282 39,550

+ #GG TFEX (#GG)

%

0.11 96.65 3.24 100

320,358 577,995 1 898,354

2 D% +  Equity % (&)

35.66 64.34 0.00 100

127,989.47 1,063,339.48 8110.21 1,199,439.15

%

10.67 88.65 0.68 100

2.3  #"4/ #Ef(  

&$-& '(&*+#% &&    % & "(> (#&  % &  #"&  *2&$-$- #42   42 *G - #(#* -

Annual Report 2013

35


  * "+ #/  &  & #DG% &"/ & ... *+/   & /& "(> &  & "B-( &" > #>(   7 % & *8" +> '" *+ &>&!  D > *+ 31  >-# 2556  "#9 /& "(> &(>-

!   242.05

Annual Report 2013

36


  3. C# $-  $- 4#4 2 D%#& # (    % &   # -(   <,8 %   #* - >#"#   & B>)L -># -,+ >% & & '  #D<,8 %  '->#$,+ #+ % & & <=+&! O*+

F(  , ->-#% &    2553  2554 '  2555 #D<,8 %J*+ ( >    #*/ > ( 28,669    28,854    ' 31,084    #/   %D*+  2556 #*#D<,8 % J*+( >    ( 48,070    +#%=8  2555    48.81  ,+ &  2556 O(& H 8&OB )'B  *+"(&E/  #*->#E E> "F&   >(& SET index  +#%=8 /"9"F&"    20  *+  1,643.43  '#*#F-(<,8 %"F&" 8&'( K /    #* -(  <,8 %  2554  2555 '  2556 ! & 1,240    1,270    ' 1,696    #/  ->#E E> % &)L  & '   %=8 >O<=+& F(  , ->-#% &  $( EO)L8& BF#B- # ' 8& & % &"L # ;Â&#x2022;Â&#x2013; >% &)L"L # *+R '(#) D-># '& 3 &> O&#, & ) <=+& D( *8"(&E( ->#$,+ #+ % & & 8& )'(&) '"(&E &( #D<,8

%   >#9=&#D # ' /%  *    '"(&E  & (&#* "/-(  /   L && 'E /  & % &

(& :# ,+ !  &->#E E> &(>  %L  & ,+ H +#%=8 ,+   /   #(=+&&   

  =+& $(  *+=&&  / (' / (  ! >' " "  %'<,8 -,  (>& ! >' <,8 %"<,8 %(>&    ,#' , #  (SBL) ! >' <,8 %  (&)   /  ("/-'" &"  (Derivative Warrants) '  & "(> -- (Private Fund) !   $- #* #& # ( ! *+#* #!  <,8 % <=+&%=8 F(#D<,8 %% & F-  8&'()% &"/ & ... '  *+> -(# *#<,8 %'%8 

(Sliding Scale) 8&'(> *+ 1 #-# 2553 !  #   &E$'%(&%   (&H  , '%(&%  

-( # * #<,8 %    %"%% &-F('%( &,+  " &->#" >"% &F-  $ &"(> '( &  *+>*-># '&   =& & /  "-*+#*->#"#9#(>#&  I &  - *"" ) '%L F- '" &#D<,8 %*+ +#%=8  '(  #*>9"&-,+  ( "F "B>'%(&%  

(& :#  9=&B>'%(&% *+ '&  ' -(# *#<,8 %*+  &$ -(# *#'%8  (Sliding Scale)  =&#* *++##D<,8 %% & F- (&H % &   2556  #(& >-*+#*->#"#9 - *"" )*+ "#  #*+  " &F-  (&> :>'#*"B %L F-  +##D"% +#-DB& > 

# ->#F    *+

(&"#+/"# >#8&->-#-($ ((&H ,+ "

- &'%(&% &(>   - >("#9 &->#"*+&'%(&% % &K "* Annual Report 2013

37


 $- 4"#"L+ 2 D > *+ 31  >-# 2556  #*F *8*+&F  / > 397.72   <=+& *8*+#*O / > &(> *8 #*8&"/ &-(E,+  *8"&""F&#F-( > -9 > ' > %D *>  #*

&  F ,#,+ <,8 / > 597.71     #* *+ ->#"*+&   E  $/--(<,8  , E  $/>& % &F- B$*&  F ,#,+ <,8  'F- B$*<,8 %"<,8 %(>&  >#9=&->#"*+&    *8"F   ->#"/-( D- ,  F-  ,+  F- *+#*-DB'/ >&& <,8 % '>&&  &  "<,8 %(>&   #"# #L & ->#"#9 $/ *8 "B-( &&& '"D& % &F-  *8&&#*> "9 % &F-  '->-#$ >&& (& $ >#8&->-# F'" "(> % &#F-(  ! #DG*+ /

(&-(&-

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 "F((#N# #(H +##%=8 ,+  ->#"*+& &(>  I *#& >- '#(& I &",+ & >' ",+

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Annual Report 2013

38


 $-" &*#& # ( ->#"*+&  &   -, ->#"*+&*+  #( E ' % && & #*+- D >     9=&->#"*+& &(>=& 8& #*-D#& / *+/ ' >& DG '*M *+>&  " '"  *+$   / " "(> & # '->-#->#"**+   ->#"*+&    #*/   ->#"*+& '( /  E%  *+ # (Stop Loss limit) ' #F-(& "F&" *+ # (Position Limit)  &  *+#*O,8 L * #*->#"*+&+/ >#9=&  *+  &  "

- &B>D & % &  (&"#+/"#

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B>D& ->#E E> % & & '  ,    / ( / > ' - #(#"# /  &*+, % $* '  &E%  B& &(>+/ >(-*+   / ( > & 8 ,+  ->#"*+& &(>  />-% #F,8 & % & EF

 ' ->#" % &EF & (  &(> ( &# >& 8& *8 #* 8&-D#

/ ( (Underwriting Committee) ,+ / *+D' #/# / ('  / ( &(>  $- *2 -D%#& # (  #*->#"*+& F ,#& ,+ <,8  D**+#F-(% &  &+/>(

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 *8 (Maintenance Margin)  ! #&,+ %% & (>& / F' ' 8& *8 " "(> &(>&+/ >( *+/    #*%8   Call Margin, Intraday Force Margin ' Force Margin #/ 

(& :#- #*-,+ > '& #*E/ " "(> % & *

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F *8& F ,#,+ <,8 +#"F&%=8 (&(  ,+ &   D > *+ 31  >-#  2554  2555 ' 2556 #*#F-(( 514.59    1,271.64    ' 597.71    #/ 

Annual Report 2013

39


4 &&$-"/ E(xx    - >#"/-   ->#"*+ &' ->#"* *+  %=8 "/   & "%' EF $    #*>&'E N & B##L ->#

B '   #*/ B<=+&- #- &->#"*

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B  2554 *+E( # "/ & "%&'(&*+8& F( ,8 *+*+ E B #("#9K    =& /  #'E "/ &JJ (Business Continuity Plan) *+ / > =&/  &-&"#9 '(F-  (&(  ,+ &'# #*->#"*+&OB *+ /  /   & $&

Annual Report 2013

40


4. & # (&$*- L*    4.1 & # (

4.1.1 & # (  ,#&6 D > *+ 31  >-# 2556  #*" *+$    & *8   &/#,E & # (

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 42 #

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11,820,502

- #(#* -

8& F(%*+ 500/1-3 9 " #* /"Â&#x2DC; /B #, & &> /& 52100

!  % &

9,655,181

- #(#* -

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!  % &

12,227,916

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2

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149,783,233

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19

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-

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"(> & ->(&( " &

Annual Report 2013

41


 *8 /"$( -,+ $ ! *+8&"/ & ('"/ & "% &#* * % &"$( & *8 +#*G +#

  L

%*+ 132 ( -"  1) $8 2, 3 ' 9 9 > '%>&# * %#> & 10330 $8 2 2  1  , $8 3 2  1  , $8 9 2  1  ,

%*+ 1693 -<: <( "%  > $8 11 9  '%>& > % & 10900

 42 # - $8 2 9  "( -/

9F= &  5,088,000  - $8 3 9  "( - / 9F= &  753,600  - $8 9 9  "( - / 9F= &  1,954,800 

2  9  ,

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%*+ 275 -

#  "%&'- $8 6 9 $# '%>&&'- , %&'- & 10160

2 

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%*+ 30/39 - 50 -

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1  4  ,

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%*+ 1293 --;F "%"/& $8 2 #F( 4 9 "%#> / /B #, & &> "# 10270

2  10  ,

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3  ,

9  "( - / 9F= &  155,294.10 

1  8  ,

9  "( - / 9F= &  215,176.50 

%*+ 191 -"*#- #:< $8 19  & C 9 "*# '%>&"*# %& & 10500

1  8  ,

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%*+ 999/9 -"/ & 

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1  8  ,

Annual Report 2013

9  "( - / 9F= &  464,846.40 

42


+#*G +#

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 42 #

%*+ 540 -# ->*+ $8 14 9   '%>&# * %#> & 10330

1  9  ,

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%*+1093/73 -<: <*8 >>  $8 14 9 &  '%>&&  %&  & 10260

1  9  ,

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%*+ 99, 99/9 #F(*+ 2 9 ' &>I  /& /B : &> *

1 11  ,

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-

("$( 1 q-# 2556)

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Annual Report 2013

43


+#*G +#

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2  10  ,

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%*+ 1242/2 "/ & 

#  -$"*# $8 *+ 6  &  3 9 #B / #, & /B #, & &> -$"*#

1  11  ,

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%*+ 512/8 9 $&F / #, & /B #, & &>

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%*+ 29 -* "<( $8 *+ 6  & 607 9 $O / ( /B  ( &> "&% 90110

Annual Report 2013

44


+#*G +#

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%*+ 3/222 #F( 6 9 J#* / , /B &#& &> $* 20150 %*+ 838/1-838/1% 9 $$  /&" 

/B #, & &> $* 20000 (*+ F(O ) ( *+/#( > *+ 13 fB-# 2556 )

--> $  *-:< %*+ 57  &%*+ 1607 *-1608 $8 16 9 > '%>&# * %#> & 10330

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Annual Report 2013

9  "( -/ 9F= &  154,200  K "% 18 f) 2556

45


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%D =+& F-  & / #+#B >*+/ #J 8  /  &-%  * 3. ->-#'D> $,+ *+"#9<,8 , / / $* Margin >#8&#* Initial Margin % &'(  ! #DG*+ /  #*-D#->#"*+&/ *+ D 4.  #*->-#>% & F ,#  =+& $*#8  / #F-( "F&" % &'(*+  F ,##(# ''D! J & ,+  "#9->#"*+&'( (& $

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'F *8"<,8 %(>& *+-&- & F( $*/ > 397.65    

 *8/ > &(>"(>  =+& F( Annual Report 2013

46


>(& /  - * ' *"(>  =+& F(>(&E( $/' # *8% & <=+& 8&-(E,+  *8"&""F  "/#F *8*+ $8 "&""F8&/ > ' > 

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4. F *8"9 & *+#*O 5. F *8 ,+ *+- &$/

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Annual Report 2013

47


1. #F *8 $8 "F #9=& 1.1 #F *8% &F *8*+  #>&9# 9=&*+" ' > '( #( $/ *8 ' /  / (  *8"F$*F *8#q#B* ' > 1.2 #F *8"(> *+ /"  *8 2. #F *8 $8 "&" #9=&#F *8J"(> *+"F& >(#F-( % &F *8 <=+&% D & *8 2.1 F *8+>  F *8"9 & *+#*O 'F *8 ,+ *+#*#F-( +/>(#F *8 2.2 F *8E( $/*+#*&> $/& #( "# , <=+&- &$/&  ,

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3. #F *8 $8 +/>(#L #9=&#F *8"(> *+ #("F& >(#F-( % &F *8 *+% D#% 2  #*   / (#F *8 $8 "F

$* **+ &(> '8&-(E,+  *8"&""F

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D( *+$#-D#& '*+$#-D# Annual Report 2013

48


2.   #*$#-D#& (&  ,  1 -8& ,+ / & ' F'"9 % & & 'N & ->#"*&  #8& /& $#,+ " ( -D# & 3.   #*% #F>-&  >-O,8 L '>-&- - >#8&>># ">- ,+ $    "  4. QR   & / <,8 %#*+ -D#& % &   /   '& E

/  /> ( EF 9=&"9 % &&  "9 % &<,8 %'& 9F  ! O F("#

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#  * 8& *8 -D#&   ># #( >( 3 - <=+&-D# ! EF '(&8& / *+  /  <,8 %,+  ' F' #&  ! #>&& ' & *+ / >     $- &  & %8  ' #& &*+ (>#' >% & : >( #*   &  (&H 8&" " *8 '"   *+ #' -     ->#"*+&& ,+  E ' *+#"#   *8   #*DG D- ,   # $ % #F$&>-  D  #* 8&-D#& ,+ / *+ &(> (&-(&-  *8-D#& &#* *+  /" ,+ %

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" *8 (Credit Risk) "B-( & <,8 %" *8 (Liquidity Risk) ->#E E> % &- <,8 %" *8 (Market Risk) '->#"#9 $/-% &-F(- , F-  (Counterparty Risk) 2. &  " '"      #*  /  >  9 "&-' N #& *+$  ,+  "

- &  ' > & *+ -D# / > = ->#"*+&% &&   &(# "# (&H ,+ #(  >  & > % &*+#*-&" &,8 L *+ * <=+&->#"*+& % && #->#E E> % &- (Market Risk) "B-( & <,8 %> (Liquidity Risk)  =&   #* #' /& /> (Mark to Market Report) ,+ "  EF *+ *+>% & ',+ & E /  & '' > #% &"B>  '(-D# (  D > *+ 31  >-# 2556  #*& & ">#8&"8 237.45    & &   &(>! & & <=+&8&-(E,+  -( (9 #*) ''" &#-#' > Annual Report 2013

49


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& &  " *8'" <=+&!  -># &% &  , *+9, > ,+ - , 8&9,

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>( -,  &* ,#& /  ,#&    #* &  ( / (>#*+ *+>% &'#*)B  #8& "#9,8   /% &  #* /  '->&#+&%=8   -/ =&9=&->##"# ' $ % & 'EF 9,  ! "/-

Annual Report 2013

50


5.   &&{  #(#*- * *+#*E  ( " % & *+#*/ > "F&>(  5 % &"(> % &EF 9,  D > *+ 31  >-# 2556 ' #(#*- * *+#*E(  /  % & (&#* "/-

Annual Report 2013

51


!"#$ % !"#&'( 6. 2&#- 3 ,#&6 $,+  "9 *+8&

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Annual Report 2013

52


2/&$- ,#&6 /#%/  10 7%3 $,+  "9 *+8&

* %*+ B   *  $/' >

:   &  :# ;<* / (#$ ) : $8 * '$8 21-23 -- # >>  %*+ 199 9 $ B '%>& - & %- & &# - 10110 ) 0-2649 - 2000 " 0-2649 â&#x20AC;&#x201C; 2100, 0-2649 â&#x20AC;&#x201C; 2111 > < www.mfcfund.com : 0107536001371 :  B  & : 120,000,000  : 120,000,000 

'(&

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:  "# 120,000,000  #F-(*+ >   1  29,903,500  - !   24.92

- _ * 

EF ' EF 9,  F EF " $*

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%*+ 62 -  $8 4,7 9 $ B '%>&- & %- & & 10110 ) 0-2229-2800 " 0-2359-1259 : #(#* : $> * "L EF " $*  %* 4301  *  F $ #" $) " $* /

$8 25 -  183 9 " '%>& >%" &# - 10120 ) 0-2676-5700 " 0-2676-5757 : 1.  *+=q# "#-',+ /

%*+ 122 9 ) '%>&) ( ", % - & 10200 ) 0-2224-2130 " 0-2226-1346 2.  "/ q# $ # /

61/52 < >*# 8 9 # 9 '%>& >%>& % >%>& & 10310 ) 0-2246-2182 " 0-2643-9953 3.  "/ q#" "#*#* /

999/9 - 

;;K))" '  <: >  $8 26 9 # 1 '%>&#> %#> # 10330 ) 0-2646-1888 Annual Report 2013

53


" 0-2646-1919 4.  "/ & q# *.>*. ". /

99/168 #F( 11 9  < "  -# 1 '%>&  > %  > & 10230 ) 0-2980-5011 " 0-2942-1946 *+=&& : #(#* *+=, EF  B "    : #(#* "/ & "% % & D > *+ 31  >-# 2556 #* &(  *8  &$-/#%  & 6   Ef "/ & "%   > %*+ 1693 -<: <( "%  > $8 11 9  '%>& > %  & 10900 ) 0-2937-1292-8 " 0-2937-1292 "/ & "% &'%*+ 275 -

#  "%&'- $8 6 9 $# '%>&&'- ,

%&'- & 10160 ) 0-2454-9088-94 " 0-2454-9095 "/ & "% &#>&)> %*+ 30/39 - 50 -

#  "%&#>&)> $8 12 9 &#>&)> /&% /B #, & &> * 11000 ) 0-2550-0522-8 " 0-2550-0529 %*+ 1293 --;F "%"/& $8 2 #F( 4 9 "%#> / "/ & "% "/& 1

/B #, & &> "# 10270 "/ & "% "/& 2 ) 0-2380-0333 " 0-2757-7100 ) 0-2380-1161-2 " 0-2380-1168 "/ & "% KÂ&#x2122;   1 %*+ 7/129-221  &%*+ 2604A -"/ & )F - <: <( KÂ&#x2122;   $8 6 9 #$$ * '%>& D #  %&   & 10700 ) 0-2884-7054-9 " 0-2884-7053 "/ & "%KÂ&#x2122;   2 %*+ 7/3 -)F - <: (<( KÂ&#x2122;   $8 11 >>  *  &%*+ 41101 (K /"% 1 q-# 2556) 41108 9 #$$ * '%>& D #  %&   & ) 0-2884-5301-9 " 0-2884-8957 "/ & "%"*# 1 %*+ 191 -"*#- #:< $8 19  & C 9 "*# '%>&"*# %& & 10500 ) 0-2231-8600 " 0-2231-8695 "/ & "%"*# 2 %*+ 191 -"*#- #:< $8 14  & A 9 "*# '%>&"*# %& & 10500 ) 0-2231-8700 " 0-2231-8791 Annual Report 2013

54


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"/ & "%"## (K /"%> *+ 23 f) 2555) "/ & "%<: > 

"/ & "% 

"/ & "% ( #"%  <() "/ & "%&> &

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"/ & "%$* #( (K /> *+ 18 f) 2556)

&$-/#% %*+ 191 -"*#- #:< $8 12  & D 9 "*# '%>&"*# %& & 10500 ) 0-2231-8900 " 0-2231-8997 %*+ 159 -"## $8 11 <  ) 9 "%#> '%>&- & ,

%>I  & 10110 ) 0-2627-2400 " 0-2627-2427 %*+ 999/9 -"/ & 

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--> $  *-:< %*+ 57  &%*+ 1607*-1608 $ 8 16 9 > '%>&# * %#> & 10330 ) 02-263-8500 " 02-263-8555-6

- :# >>  %*+ 195  &%*+ 1406 $8 14 >>  3 9." '%>& > %" & 10120 ) 02-627-7888 " 02-627-7899

-# FE 1 %*+ 2884 $8 6 9 $* #( '%>&&K % >%>& & 10310 ) 0-2716-5700 ". 0-2716-5713

 %*+ 50/147-157 -Â?  < <( '  -   $8 4 9  >' > /$ &E,  /B #, & &> $*&#( 50300 Annual Report 2013

55


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1 $*&#( "/ & "% : 

2 $*&#( "/ & "%$*&#( 3

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"/ & "% $*& 1 "/ & "% $*& 2 "/ & "% /& "/ & "% -">- "/ & "% D

"/ & "%  "/ & "% /F

&$-/#% ) 0-5322-4766-9 " 0-5322-4775 ) 0-5340-5242-6 " 0-5340-4390 ) 0-5322-3377-9 " 0-5322-3378 ) 0-5322-3663-4 " 0-5322-3378 %*+ 2/9-10 - -&--  # *# $8 *+ 1 9 $f /$ &E, 

/B #, &$*&#( &> $*&#( 50300 ) 0-5321-2350 " 0-5321-2349 %*+ 224/1 $8 *+ 1 ' 2 #F( 2 /'#(* /B #, & &> $*&#( ) 0-5380-6044 " 0-5311-1262 %*+ 591/5-7 9  />*& /B #, & &> $*& 57000 ) 0-5360-0828-30 " 0-5360-0833 ) 0-5374-0480-3 " 0-5374-0484 %*+ 500/1 - 3 9 " #* /"Â&#x2DC; /B #, & &> /& 52100 ) 0-5423-1740-8 " 0-5423-1749 %*+ 919/112 #F(*+ 10 . -">- .#, & -">- &> -">- 60000 ) 0-5622-7241-3 " 0-5622-9899 %*+ 228/28 - 30 9 #  9 / #, & /B #, & &> D 65000 ) 0-5523-1981-7 " 0-5523-1980 %*+ 3/5 9 $>. />*& /B #, & &>  56000 ) 0-5441-0930-1 " 0-5441-0905 %*+ 12/5 9 #  / #, & /B #, & &> /F 51000 ) 0-5351-0500 "0-5356-1511

*/ "/ & "%  )  (

"/ & "% -)*#$ 1 "/ & "% -)*#$ 2 "/ & "% -)*#$ 3 "/ & "% & "/ & "% #, & BF:

%*+ 200 )F -   )  ( <( $8 4 9  ) 3 /B  ( &> "&% 90110 ) 0-7435-4699-705 " 0-7423-0176 %*+ 62, 64, 66, 68 < > *Â&#x161; 9 I -F%>& / #, & /B #, & &> -)*#$ 80000 ) 0-7543-2021-9 " 0-7543-2031 ) 0-7543-2360-4 " 0-75322-605 ) 0-7543-2504-11 " 0-7543-2504 %*+ 59/5 - 7 9  >

/*+& /B #, & &> & 92000 ) 0-7521-6000-3 " 0-7521-6007 %*+ 154/14 - 16 9 && / ( /B #, & &> BF: 83000 ) 0-7623-2482-90 " 0-7623-2491 Annual Report 2013

56


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&$-/#% %*+ 467 9 * /( & /B #, & &> "&% 90000 ) 0-7443-7500 " 0-7443-6666 %*+ 1/9 9 >*" -  /(B /B #, & &> $# 86000 ) 0-7751-2114-6 " 0-7751-2122 * " Â? / %*+ 29 -* "(<( $8 6  & 607 9 $O /B  ( &> "&% 90110 ) 0-7435-2905-6 " 0-7435-2909-10

/ #x$ "/ & "% "  "/ & "% )*" "/ & "%   *

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#  -$"*#

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  * 41000 ) 0-4223-0555 " 0-4223-0515 %*+ 238/8 -& < >  &%*+ I7-I9 $8 2 9  / #, &

/B #, & &> % '( 40000 ) 0-4333-4755 " 0-4323-8322 %*+ 166/1 - 2 9  # / #, & /B #, & &> -$"*# 30000 ) 0-4426-9802-11 " 0-4424-8990 %*+ 1242/2 "/ & 

#  -$"*# $8 *+ 6  &  3 9 #B / #, & /B #, & &> -$"*# ) 0-4428-8057-66 " 0-4428-8065 %*+ 512/8 -" *>>   & %*+ 4C-1 $8 4 9 $&F / #, &

/B #, & &>

$ * 34000 ) 0-4535-5125 " 0-4531-6232 %*+ 8/47 - 48 9  #, & / #, & /B #, & &> *# 31000 ) 0-4462-5606-7 " 0-4460-1953

 "/ & "% $* "/ & "% -L# "/ & "%  * "/ & "% "*

%*+ 399 #F( 1 9 $# / (" # /B #, & &> $* 76000 ) 0-3240-0941 " 0-3241-1744 %*+ 99 9 " /L# * /B #, & -L# &> -L# 73000 ) 0-3427-2800-6 " 0-3427-2807 %*+ 321 9 '"&$F /   , /B #, & &>  * 71000 ) 0-3462-4908-09 " 0-3462-5099 %*+ 591/19 9  /*> /B #, & &> "* 18000 ) 0-3631-8481-7 " 0-3631-8488 Annual Report 2013

57


 "/ & "%   R& $*

&$-/#% %*+ 99/49-50 9 & /  R& /B   R& &> $* 70110 ) 0-3230-1201-3 " 0-3230-1209

/ # "/ & "%  &

"/ & "% 

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%*+ 115 -"<( $8 1 < )F - " 5 9 "%#> /$& 

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Annual Report 2013

58


)#"*(+" 7. 7.1

42 2#& # ( 42 + &"& $ &L+  D > *+ 31  >-# 2556  #*  * 3,189.79    *$/' > 2,589.74    '(&!  "# 2,589,743,484  #F-(*+ >   1  (  * *+ '&#F-( *+ >   10  !   1  >

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4,916

14 #-# 2552 14 #-# 2552 27 #* -# 2552 22  >-# 2552 23  >-# 2552

4,195 4,038 2,300 1,866 3,149

25 #-# 2553

3,149

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59


#/"/: &$-"& $

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3,149

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Annual Report 2013

60


7.5

42 $,+ EF 9,  ( 10 ' D > *+ 18  >-# 2556 ! > *+K "# * EF 9,  -8&(" #* & *8 42 1. " > $  2. "/& # FE 3.  ># 4. fb -8>-$ 5.  ##*+ $  6.   : >* *  /

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%   11.05 7.15 5.68 4.96 3.88 2.89 2.76 2.62 2.28 2.11

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 167,120,113 6.450227

Annual Report 2013

61


 ,)   2534  " % "#+# % & ( $$ +>    *8 

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Annual Report 2013

62


  " -

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#9=& EF "F&" % & Annual Report 2013

63


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65


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66


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Annual Report 2013

67


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Annual Report 2013

68


+&$- &$-   

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Annual Report 2013

69


2.

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70


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73


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Annual Report 2013

74


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75


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78


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79


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% #F*+*+>% & ,+ <,8 %% & ( )&& Annual Report 2013

80


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# > ' >#*+/ >  $'  ' M#"*+& Annual Report 2013

81


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94


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96


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97


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98


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99


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100


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101


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102


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103


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104


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108


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Annual Report 2013

109


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13.2

"& >" % &EF " $*  3 *+E( #  2556 EF " $*  ->#:  & "  ' #(#*&,+ %'(#*>-  2555 EF " $*  ->#:  & >" ' #(#*&,+ %'(#*>-,+ &

,+ H  2554 EF " $*  ->#:  & >" ' #(#*&,+ %'(#*>-

/&42#GL$ 1. /& #GL$ (Audit Fee)  2556   #*+$#"#EF 9,  / 2556 / -(" $* '(EF "  $*% & ! & / > 2.45    2.   - (Non Audit Fee) - #(#* -

Annual Report 2013

110


    ,#&#& # ( #& $-  Â&#x2C6; +#" (L) "b   E #&$- 31 #  2556  2555  2554 ( (> : )

& # ( & " '*(& "

& Q "9 & F *8"/ $* F *8'"<,8 %(>& " & & " & &  (>#" *+  -' D"  "  #(#*>  " " B*&   $* "  +, "

& # ( $%     *8"   *8"/ $*   *8  *8" "   " *8*+

'& F #, , +  *8" #"$(& BEF E$ % & &  *8"  , + ># *8" "(> % & % &  ,    *  "# 3,189,785,935  #F-(  1.00    *  "# 3,149,549,316  #F-(  1.00   *+

'*$/' >  "# 2,589,743,484  #F-(  1.00   *+

'*$/' >  "# 2,330,759,812  #F-(  1.00  "(>  #F-(

&-  , + % &"(> % & % & / ""#  "' >  "/ &#q# & #(  " >#"(> % & % &

$%    

2556 + 

 &$-"&/ $  3"$ E #&$- 31 #  2555 ( # *) 2554 % +  % + 

1,073,087,608 569,310,000 442,940,349 1,531,023,127 237,449,760 340,153,559 186,622,547 96,575,450 143,055,030 127,887,922 4,748,105,352

22.60 11.99 9.33 32.25 5.00 7.16 3.93 2.04 3.01 2.69 100.00

1,443,205,116 106,380,455 252,466,917 2,755,683,095 37,998,384 314,181,134 203,343,149 88,402,206 141,456,906 121,300,068 5,464,417,430

26.41 1.95 4.62 50.43 0.70 5.75 3.72 1.62 2.59 2.21 100.00

1,334,881,131 105,611,739 219,115,990 969,795,439 396,146,720 318,994,138 188,513,498 83,362,258 106,311,392 3,722,732,305

35.86 2.84 5.89 26.05 10.64 8.57 5.06 2.24 2.85 100.00

25,096,463 1,129,699,869 57,273 3,428,712 46,864,861 165,355,749 1,370,502,927

0.53 23.79 0.07 0.99 3.48 28.86

186,522,483 1,624,143,954 456,765 338,911,299 5,422,380 39,664,089 195,176,462 2,390,297,432

3.41 29.72 0.01 6.20 0.10 0.73 3.57 43.74

35,441,443 629,364,029 2,486,789 27,177,415 45,170,124 145,358,401 884,998,201

0.95 16.91 0.07 0.73 1.21 3.90 23.77

%

3,189,785,935 3,149,549,316

3,149,549,316

2,589,743,484

54.54

139,078,735 (8,940,060)

2.93 (0.18)

2,330,759,812 139,318,081 3,712,491

42.65 2.55 0.07

2,330,759,812 139,318,081 24,390,632

62.61 3.74 0.66

55,574,679 602,145,587 3,377,602,425 4,748,105,352

1.17 12.68 71.14 100.00

39,853,695 560,475,919 3,074,119,998 5,464,417,430

0.73 10.26 56.26 100.00

23,767,457 319,498,122 2,837,734,104 3,722,732,305

0.64 8.58 76.23 100.00

Annual Report 2013

111


 ,&# #& # ( #& $-  Â&#x2C6; +#" (L) +3 "&"  + #/ :% " #&$- 31 #  2556  2555  2554 ( (> : )

3" -(   -(# *#' / & & / "    "(> '(&/ & & #>*">( "*

*8'& O E

*8&  F ,#, + <,8   + ,

 3" *L   && -(# *#'( -($ (   /  & -($ ( *+ > & -($ ( *+ > - "9 *+' D -( ' # -($ (  , +  *8"F' *8"&""F ( )

*L / "( B*& B*& +3 & +3 ("&) " +3 & /  (%  ) : ": , + /  (%  ) > #F-(& & E,+ % &"(>   > #F-(& & E,+ %*+%>(& / #D#-D)"  B"/-&E$  & B*& *> &- % &/  (%  ) : ": , +

+3 ("&) " -& +3 "   / (  %8 , 8 L () / >  "#9>J*+9(>& 8/ 

2556 + 

 &$- "&/ $  3"$ + #:% " #&$- 31 #  2555 ( # *) 2554 % +  % + 

%

1,695,680,086 39,588,808 66,150,446 19,723,499 86,424,302 90,959,489 56,604,590 13,707,904 2,068,839,124

81.96 1.91 3.20 0.95 4.18 4.40 2.74 0.66 100.00

1,269,677,471 18,776,393 80,900,069 20,810,298 50,793,506 85,101,807 74,110,923 15,108,743 1,615,279,210

78.60 1.16 5.01 1.29 3.14 5.27 4.59 0.94 100.00

1,240,366,587 10,842,298 86,212,308 13,622,124 48,195,915 73,387,740 59,612,633 14,961,795 1,547,201,400

80.17 0.70 5.57 0.88 3.12 4.74 3.85 0.97 100.00

53,583,831 156,610,947

2.59 7.57

42,571,603 122,168,959

2.64 7.56

20,366,793 114,270,566

1.32 7.39

1,072,167,248 194,926,006 11,145,000 144,756,121 15,931,601 1,649,120,754 419,718,370 (74,904,818) 344,813,552

51.82 9.42 0.54 7.00 0.77 79.71 20.29 (3.62) 16.67

850,379,711 192,260,120 11,255,000 132,697,931 (63,769,192) 1,287,564,132 327,715,078 (67,326,502) 260,388,576

52.65 11.90 0.70 8.21 (3.95) 79.71 20.29 (4.17) 16.12

854,745,058 176,002,648 8,881,000 132,036,948 (13,553,772) 1,292,749,241 254,452,159 254,452,159

55.24 11.38 0.57 8.53 (0.88) 83.55 16.45 16.45

344,813,552

16.67

260,388,576

16.12

254,452,159

16.45

(15,815,602)

(0.76)

4,421,325

0.27

(11,924,106)

(0.77)

-

-

(24,391,430)

(1.51)

(71,035,430)

(4.59)

-

-

7,365,728

0.46

656,604

0.04

3,230,654 (9,373,723) 251,014,853 0.112 2,330,759,812

0.20 (0.58) 15.54

(82,302,932) 172,149,227 0.109 2,330,759,812

(5.32) 11.13

3,163,051 (12,652,551) 332,161,001 0.138 2,491,133,102

0.15 (0.61) 16.06

Annual Report 2013

112


" E #&$- 1   2556 /&$-  3  E""#*+ '& $* 

-&, D > *+ 1 #-# 2556 *+&' > *+ '& >(& #+  "(> +/>(#F-( & O E( /  (%  ) : ":>#  "/ &#q# " E #&$- 31 #  2556

" # *" " E #&$- 1   2555 /&$-  3  E""#*+ '& $* 

-&, D > *+ 1 #-# 2555 *+&' > *+ '& >(& & O E( /  (%  ) : ":>#  "/ &#q# " E #&$- 31 #  2555

(239,346) 139,078,735

258,983,672 2,589,743,484

Annual Report 2013

139,318,081 139,318,081

139,318,081

2,330,759,812 2,330,759,812 2,330,759,812

139,318,081 139,318,081

  2

2,330,759,812 2,330,759,812

&&$-    $L+ 

(12,652,551) (8,940,060)

4,420,527 (708,036) 3,712,491

(15,266,305) 3,712,491

24,390,632 (5,411,836) 18,978,796

15,720,984 55,574,679

39,853,695 39,853,695

16,086,238 39,853,695

23,767,457 23,767,457

(287,422,900) 344,813,552 (15,720,984) 602,145,587

418,018,865 142,457,054 560,475,919

(205,077,188) 266,281,158 (16,086,238) 560,475,919

319,498,122 195,860,065 515,358,187

 &$-"&/ $  3"$ +3   ( -    #"

 #33"#"

  (/-+ )  & &+   #" /Â&#x20AC; 2&

 ,&# #& # ( #& $-  Â&#x2C6; +#" (L) " $-   + #:% " #&$- 31 #  2556  2555

258,983,672 (239,346) (287,422,900) 332,161,001 3,377,602,425

2,932,370,980 141,749,018 3,074,119,998

(205,077,188) 251,014,853 3,074,119,998

2,837,734,104 190,448,229 3,028,182,333

  

( (> : )

113


Annual Report 2013

114


 "+#- * $' .  (! )   ( ) "/ : & $' 31  &* 2556 " 2555 " 2554  :   $' " & $& $# 2556     (  )    ()  

 !"# #$   ## "!$ %#&'*'+#&.$    /    (! )   

  "

;/  "'/  ## "'/  ;/  "  <+ ;/ => # => #+?'  "@ #$ #+?'  "@#A  # ###A    ;/ B#>& "+#C$>& #$<

  ## B#>& "+#C$ >& #$<

     (! )  "

  

# ##  >&*/ / #& ##  >&*/ / #&  # ## " +?'    (! )  

>&##   () " ! >&##   C   1 #B  "#$#  % & $' 31  &*

2555 ()

2554

(161,426,020) (494,444,085) (485,289) (5,264,630) (104,562,933) 229,857,711

151,081,040 994,779,925 (2,276,463) (11,445,130) 34,265,887 (309,489,178)

35,197,083 (544,631,715) 2,819,051 (472,570) (40,031,575) 419,293,474

(140,707,432) 1,018 (150,965,817) 80,000,000 249,464 50,835,950 (60,307,202)

(117,000,000) 444,334,905 3,866,346 73,216,000 (77,792,648)

(275,251,170) 90,800,590 (15,000,000) 5,987,323 86,720,150 4 (75,025,181)

2,227,523 (218,666,496)

39,252 326,663,855

5,776,516 (175,991,768)

364,550,018 (715,000,000) (2,180,166) 67,111 (28,745,686) (381,308,723)

678,870,140 (350,000,000) (32,643,644) (205,077,188) 91,149,308

(24,112,190) (256,356,261) (280,468,451)

(370,117,508) 1,443,205,116 1,073,087,608

Annual Report 2013

108,323,985 1,334,881,131 1,443,205,116

(37,166,745) 1,372,047,876 1,334,881,131

115


&  $'*;  $' " & $& $# / : & $' 31  &* 2556

& *&<  (Profitability Ratio)

2555 ()

2554

 #<#   (%)  #<#( ") " ! (%)  #' > '*F/ " (%)  #' > # " (%)

89.32 16.67 10.69 23.73

89.37 16.12 8.53 19.44

90.93 16.45 8.77 16.04

 #' >  #$ (%)  ##"  #$ ( )

6.75 0.41

5.55 0.34

6.28 0.38

 # #$%B   * ( )  # #$ #<  * ( )  # #$B     #$# (%)  # #$ #<   #$# (%)  #      ( )  ##+?' (%)

* * 37.70 67.55 0.41 82.62

4.31 11.12 26.73 68.97 0.78 107.13

* * 45.95 89.47 0.31 70.00

 # "@ #$   #$ (%)   "%B " ! (%)

17.34 242.05

12.38 106.20

28.76 239.10

<# ( ") " !  " / H ** ( ) +?'  " ( ) *B 

 " ( )

0.138 0.11 1.30

0.112 0.1233333333 1.32

0.109 0.088 1.22

(13.11) (42.66) 27.06 19.92 32.42

39.64 170.09 4.40 1.27 2.33***

(15.02) (37.54) (4.81) (9.47) 31.13

&   =+  

(Efficiency Ratio)

& & *- >## (Financial Ratio)

&

?'

 @" 

 ; >

 #$# (%)  # (%) #<!"# #$ (%) B@ (%) <# ( ") " ! (%)

Annual Report 2013

116


/ : -  #*&  Local Broker Network Limited (â&#x20AC;&#x153;( â&#x20AC;?) <=+&! ( % & - *+ . / (#$ ) (   8&%=8  %)Â?( &&'(&"DL$$ * #,+ > *+ 21   2552 '(  #( /  # H ( #*+$#-D#% &   #,+ > *+ 10 f)  2553 #*#  #  /   $/ $* (   *8"/  & *  Â?( &&  # % 9  *  % &    ' #  ' &    #,+ > *+ 25 #-# 2554 '> *+ 10 #9  2554 #/  & 8  =& #(  /&& >#"/ "8 " > *+ 31  >-# 2554 -  / $**+>B*&   $*#$ ! -8&'"/&&  2556   9, M##L $*J*+ 12 ,+ & â&#x20AC;&#x153;B*& â&#x20AC;? & 8 % #F && "/"8 " > *+ 31  >-# 2555 *+ /#**=&! % #F*+ /%=8 # $* #(  E""# *+ '& $*( && #* &(  *8 &'" &L &  (> :  D > *+ 31  >-# 2555 " B*&   $* 

-&, ( *+ '& $* +#%=8 % &" B*&   $* 

-&, &*+ '& $*

141,456,906 141,456,906

&-  ,+ % &"(> % & % & 

-&, ( *+ '& $*  &% &" B*&   $* 

-&, &*+ '& $*

4,420,527 (708,036) 3,712,491

/ ""# - & #(  " 

-&, ( *+ '& $* +#%=8 % &" B*&   $* +#%=8 % &" B*&   $*% &(># 

-&, &*+ '& $*

Annual Report 2013

418,018,865 141,451,131 1,005,923 560,475,919

117


&/ %  : ":  (> :  "/"8 "

> *+ 31  >-# 2555 B*& B*& ( *+ '& $* +#%=8 % &B*& B*& &*+ '& $* B*& *+> &- % &/  (%  ) : ": ,+ B*& *+> &- % &/  (%  ) : ": ,+ ( *+ '& $* +#%=8 % &B*& *+>

&- % &/  (%  ) : ": ,+ B*& *+> &- % &/  (%  ) : ": ,+ &*+ '& $* / " / "( *+ '& $*  &% &/ " / "&*+ '& $*

15,003,795 52,322,707 67,326,502

3,230,654 3,230,654

312,318,441 (51,929,865) 260,388,576

/ "(  %8 ,8 L / "(  %8 ,8 L ( *+ '& $*  &% &/ "(  %8 ,8 L / "(  %8 ,8 L &*+ '& $*

0.134 (0.022) 0.112

* #("#9-/ >D  ,+ & #(#*& F ,# ** 9>J*+9(>& 8/  *** / ""/"8 " > *+ 31  >-# 2554 *+ /#-/ >D % &/ " 2555 #( 9F /%=8 # $*#(

Annual Report 2013

118


   +1 &!23-

13.2    ( +Â&#x192;Â&#x160;#"

13.2.1 4 "+   2556  #*/ N#&'(#F- *+$  ,+  / 

/  !  (&#*"B   &-&#*  L F-  #'+#L F-  ('( >#9=&+#EBDG#( $( ,#' ,#'#*+>" *8 !  ,+  '(F-  ->&  *8 #*"#*#& >D$  '%:&'(&'#*"B #%=8 ,+ +#$( && ' ->#"*+&=+&&*& -(  <,8 % *& (& *>  #8& #*  &- *"" )% &  #*-># "#'#* "9*B F("# ,+  &#D#*++#%=8    *8#F-(<,8 %J*+( > % &   #(># Proprietary Trading F(*+ 43,982    +#%=8 15,876   ,   56.49 #,+

* 2555 *+#*#F-(<,8 %J*+( > % &  #(># Proprietary Trading F(*+ 28,106    '"/ "<,8 %(>&  #D<,8 %J*+( > F(*+ 68,017 " "F&"

8&'(+#K <,8 %  +#%=8 55.21% ( <=+&  &(>% & ! E  - *+ . / (#$ ) #*E /  & #&& *+'" && & #>*"(> "*"/"8 " > *+ 31  >-# 2556 ! / "/ > 344.81    +#%=8 84.42    ,   32.42 #,+ ** &>  *> % &( *+#*/ "/ > 260.39      D > *+ 31  >-# 2556 #*/ ""# / > 657.72    & * (  *8 - 3"  "/"8 " > *+ 31  >-# 2556 / > 2,068.84    +#%=8 453.56    ,   28.08 #,+ **&>  *> % &( *+#* >#/ > 1,615.28    ! E#   2556  #* * % & '(B " & *8  (> :  + #:%" #&$- 31 # 

3" #& # ( 2556  -(    -(# *#' / & & / "    

*8'& O E  

*8&  F ,#,+ <,8 

 3" #& # (

1,695,680,086 39,588,808 66,150,446 19,723,499 90,959,489 56,604,590 1,968,706,918

2555 1,269,677,471 18,776,393 80,900,069 20,810,298 85,101,807 74,110,923 1,549,376,961

2554 1,240,366,587 10,842,298 86,212,308 13,622,124 73,387,740 59,612,633 1,484,043,690

1. 3" #& # (  / > 1,968.71    +#%=8 419.33   ,   27.06 #,+ **&>  *> % &( *+/ > 1,549.38     ! E# 1.1  -(   1,695.68    +#%=8 426.00    ,   33.55 #,+

**&>  *> % &( *+ 1,269.68     ,+ &#D<,8 %+#%=8 Annual Report 2013

119


 #D<,8 %J*+( > % &+#%=8 1,260    ,   40.52  3,110    ! 4,370    <=+&! ##D<,8 %% &  *++#%=8 1.2 -(# *#' 39.59    +#%=8 20.81    ,   110.81 #,+

**&>  *> % &( *+ 18.78    "(> ( ,+ &# -(# *#  / ( '-(# *#! *+=& +#%=8 15.20   ##D F- *++#%=8 1.3 / & & '"   85.87     & 15.84    ,   15.57 #,+ **&>  *> % &( *+ 101.71    "(> (! E#/ <,8

% & 14.42     ,+ & &>  *> % &( #*%& &  E,+ %,+ //  1.4 

*8'& O E'

*8&  F ,#,+ <,8  147.57     & 11.64    ,   7.31 #,+ **&>  *> % &( *+ 159.21    "(> (! E#

*8&  F ,#,+ <,8  & 17.50    

&  F ,#,+ <,8  J*+*+ & '& O E & 17.03     ,+ & &>  *> % &( #*%& &  E,+ % ' #( #*& +##  %D*+

*8+#%=8 22.88   

& Q - J*+*++#%=8 2.  +3 &/ $ 3"$ / > 86.42   +#%=8 35.63    ,   70.15 #,+ **&>  *> % &( *+/ > 50.79     ,+ &(>##* / "+#%=8   72.27 - *L  "/"8 " > *+ 31  >-# 2556 / > 1,649.12    +#%=8 361.56    ,   28.08 #,+ **&>  *> % &( *+/ > 1,287.56    "(> (! E# 1. /&&  / > 53.58    +#%=8 11.01    ,   25.86 #,+

*  *    &>  *  > % & ( *+ /  > 42.57     ,+ &

*8  (   ' (  & Q  % &F- +#%=8 10.52    ##D& Q% &F-  J*+*++#%=8

2. 

$    / > 156.61    +#%=8 34.44    ,   28.19 #,+ **&>  *> % &( *+/ > 122.17    <=+&'E ##D<,8 %'"<,8 %(>& *++#%=8 3. *L* "+ / > 1,423.00    +#%=8 236.41    ,   19.92 #,+ **&>  *> % &( *+/ > 1,186.59    "(> ( +#%=8 -($ (*+> &  ,+ &-($ (*+'E ##D<,8 % Annual Report 2013

120


'"<,8 %(>& +#%=8 $( -( '   *+ '"(> '(&/  *#- /"/ & "% !   *8-($ (  /  & &+#%=8  *+#*%#%=8 % &"& " 8&'(-=+&&% & 2555   % "/ & "%+#%=8 =&#*EF ' & +#%=8 4. $%2G $%# 2G / > 15.93    "(> (  % &F *8 ##*#F-( & '( $/ *8F *8 /  - *+#%=8 - " 4+3 & #&& *+'" && & #>*"(> "*"/"8 " > *+ 31  >-# 2556  #*/ "/ > 344.81    (- ! / (  ( 0.138 ) +#%=8 84.42    ,

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

  13.11 #,+ **"8 ( *+#*" >#/ > 5,464.42     " % & ! & "

'*(& "   22.60 & Q "9 &   11.99 F *8"/ $*  9.33 F *8 '"<,8 %(>& "  32.25 & & "  5.00 & &  (>#"   7.16 *+  -' D"   3.93 '"( > *+, #D  7.74 ! "   #( #*> " " B*&   $*'"  ,+ H *+ '&% &" *+"/- " & *8 1. "  &$&" Â&#x192;*#  D > *+ 31  >-# 2556 #*/ > 1,642.40     & 92.81   ,   5.99 #,+ **"8 ( *+/ > 1,549.59    <=+&  "(> (& " '*(& " '& Q "9 & % &  F( F& Q &  F ,#"8 "9 & '& Q*+#* B 3  , > *+ #'(#*->#8&*+9, (  F ' # ( Â?> ,+  #*->#-( &>  /#$ ! &  # >* "/$/-(<,8 %' "<,8 %(>&  " "  # F ,#& ,+ <,8 ' /  & />

Annual Report 2013

121


2. 2$%+###GL$ D > *+ 31  >-# 2556 #*/ > 442.94    +#%=8 190.47   ,

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137

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E 

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I J K L M

Annual Report 2013

= = = = =

#    *+ #EF  ( #EF   EF /&/' (&"F&" "$*'& 'EF$ (># EF  "$*'&

138


42#GL$ #G/ 42 E 



 ,#&#& # ( #& $-  Â&#x2C6; +#" (L)

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  #4"L42  /  EF ! EF E $   /' /" && ( *8 9F &#*+->##L & && ' E $ *+>->-#B *+EF D>(/! ,+  "#9 /&& *+)'" &% #F*+% (

% :&  ! ""/- #(>( , % E 

  #4"L42#GL$ %  ! EF E $  '" &->#: ( && &(>E>" % &%   %   M& >"  ##L " $* <=+&/  %  M#% /  D >#9=&>&'E 'M& >" ,+  ->#$,+ #+ (&"#"#E>(&& )'" &% #F*+% ( % :&  ! ""/-, #( >" >#9=&$ >*>" ,+  #<=+&L " $**+>/ > & 'K E% #F && >*>" *+, $ %=8 F(  % &EF " $* <=+&>#9=&# ->#"*+&'" &% #F*+% ( % :&  ! ""/-% &&& #(>( , % E   # ->#"*+& &(> EF " $*D ->-#B *+*+>% & /' /" &&  9F &#*+->% & ,+

'>*>" *+ #"#"9 D '( #($(,+ >9"&- '" &->#: ( "E % &->-#B % &  >" >#9=&# ->##"#% & $**+EF $ '->#"#"#E% &#D&$**+ / %=8  EF >#8&#  /" &&  ># %  $,+ >(L " $**+%   *& '#"#,+ $ ! DG '" &->#: % &%     %  : >( && *+'" && & #>*"(> "*'&& J% & *8 '" &L & % &- *+ . / (#$ ) D > *+ 31  >-# 2556 'E /  & ''"& " "/"8 " >  *>  9F &#*+-> ""/-##L & &&

Annual Report 2013

139


2 / E(&$-  *+ # $(  ! '" &->#: '#*  &,+ % #*+  (  > #   && % 4  /#L $* J*+ 12 ,+ & â&#x20AC;&#x153;B*& â&#x20AC;? #$ ! -8&'' / &&& *+'" && & #>*"(> "*'J D > *+ 31  >-# 2555 

# D > *+ 1 #-# 2555 '"/"8 " > *+ 31  >-# 2555 *+'" &** ! # $*#(' >

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> *+ 20 #B  2557

$> * "L EF " $* %* 4301  ,#& "$&( &2L #& 3L' #GL$ +#"

Annual Report 2013

140


 ,#&#& # ( #& $-  Â&#x2C6; +#" (L) "b   E #&$- 31 #  2556   : &  /

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/ $  3"$ E #&$-

E #&$-

E #&$-

E #&$-

E #&$-

E #&$-

31 # 

31 # 

1  

31 # 

31 # 

1  

2556

2555

2555

2556

2555

2555

" # *"

" # *"

" # *"

" # *"

& # ( & " '*(& "

6

1,073,087,608

1,443,205,116

1,334,881,131

1,073,087,608

1,443,205,116

1,334,881,131

& Q "9 &

7

569,310,000

106,380,455

105,611,739

569,310,000

106,380,455

105,611,739

F *8"/ $*

8

442,940,349

252,466,917

219,115,990

442,940,349

252,466,917

219,115,990

9

1,531,023,127

2,755,683,095

969,795,439

1,531,023,127

2,755,683,095

969,795,439

& & "

11

237,449,760

37,998,384

396,146,720

237,449,760

37,998,384

396,146,720

& &  (>#"

12

340,153,559

314,181,134

319,775,617

326,977,310

326,977,310

326,977,310

*+  -' D" 

13

186,622,547

203,343,149

188,513,498

186,622,547

203,343,149

188,513,498

"  #(#* > "

14

96,575,450

88,402,206

83,362,258

96,575,450

88,402,206

83,362,258

" B*&   $*

15

143,055,030

141,456,906

189,666,750

145,690,285

138,897,675

188,226,412

"  ,+ "

16

127,887,922

121,300,068

106,311,392

127,887,922

121,300,068

106,311,392

4,748,105,352

5,464,417,430

3,913,180,534

4,737,564,358

5,474,654,375

3,918,941,889

F *8' "<, 8 %(>& "

& # (

# && ! "(>  =+&% &&& *8

Annual Report 2013

141


 ,#&#& # ( #& $-  Â&#x2C6; +#" (L) "b   (( ) E #&$- 31 #  2556   : &  /

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/ $  3"$ E #&$-

E #&$-

E #&$-

E #&$-

E #&$-

E #&$-

31 # 

31 # 

1  

31 # 

31 # 

1  

2555

2555

2556

" # *"

" # *"

2556

2555

2555

" # *"

" # *"

$%    *8"   *8"/ $*   *8 

25,096,463

186,522,483

35,441,443

25,096,463

186,522,483

35,441,443

1,624,143,954 456,765

629,364,029 2,486,789

1,129,699,869 57,273

1,624,143,954 456,765

629,364,029 2,486,789

338,911,299

338,911,299

-

 *8" "  

17

1,129,699,869 57,273

" *8*+

'& F ,# ,+

18

-

-

-

 *8" #"$(&

19

3,428,712

5,422,380

27,177,415

3,428,712

5,422,380

27,177,415

BEF E$ % & &

20

46,864,861

39,664,089

45,170,124

46,864,861

39,664,089

45,170,124

 *8" ,+

21

165,355,749

195,176,462

145,358,401

165,355,749

195,176,462

145,358,401

1,370,502,927

2,390,297,432

884,998,201

1,370,502,927

2,390,297,432

884,998,201

3,149,549,316

3,149,549,316

2,330,759,812

2,330,759,812

139,318,081 856,902

139,318,081 19,542,219

># *8" "(> % & % &  , 

22

  *  "# 3,189,785,935  #F-(  1.00 

3,189,785,935

  *  "# 3,149,549,316  #F-(  1.00 

3,189,785,935

3,149,549,316

3,149,549,316

 *+

'*$/' >  "# 2,589,743,484  #F-(  1.00 

2,589,743,484

2,589,743,484

 *+

'*$/' >  "# 2,330,759,812  #F-(  1.00  "(>  #F-(

&-  ,+ % &"(> % & % &

23 11.3

139,078,735 (8,940,060)

2,330,759,812

2,330,759,812

139,318,081 3,712,491

139,318,081 18,978,796

139,078,735 (2,179,721)

/ ""#  "' >  "/ &#q#

27

& #(  "

55,574,679

39,853,695

23,767,457

55,574,679

39,853,695

23,767,457

602,145,587

560,475,919

515,358,187

584,844,254

573,568,453

520,556,119

>#"(> % & % &

3,377,602,425

3,074,119,998

3,028,182,333

3,367,061,431

3,084,356,943

3,033,943,688

$%  

4,748,105,352

5,464,417,430

3,913,180,534

4,737,564,358

5,474,654,375

3,918,941,889

# && ! "(>  =+&% &&& *8

Annual Report 2013

142


 ,#&#& # ( #& $-  Â&#x2C6; +#" (L) +3 "&"  + #:%" #&$- 31 #  2556   : & /

 &$-"&

 x  

/ $  3"$ 2556

2555 " # *"

2556

1,269,677,471

1,695,680,086

2555 " # *"

 -(  

28

1,695,680,086

-(# *#'

29

39,588,808

18,776,393

39,588,808

18,776,393

/ & & / "   "(> '(&/ & & #>*"(> "*

*8'& O E

*8&  F ,#,+ <,8   + ,

11.4

66,150,446 19,723,499 86,424,302 90,959,489 56,604,590 13,707,904

80,900,069 20,810,298 50,793,506 85,101,807 74,110,923 15,108,743

66,150,446 19,723,499 141,795,439 56,604,590 13,707,904

80,900,069 20,810,298 144,908,807 74,110,923 15,108,743

2,068,839,124

1,615,279,210

2,033,250,772

1,624,292,704

53,583,831 156,610,947

42,571,603 122,168,959

53,583,831 156,610,947

42,571,603 122,168,959

1,072,167,248 194,926,006 11,145,000 144,756,121 15,931,601

850,379,711 192,260,120 11,255,000 132,697,931 (63,769,192)

1,072,167,248 194,926,006 11,145,000 144,756,121 15,931,601

850,379,711 192,260,120 11,255,000 132,697,931 (63,769,192)

1,649,120,754

1,287,564,132

1,649,120,754

1,287,564,132

419,718,370 (74,904,818)

327,715,078 (67,326,502)

384,130,018 (69,710,333)

336,728,572 (68,445,394)

344,813,552

260,388,576

314,419,685

268,283,178

11.5 30

># -($ (   && -(# *#'( -($ (   /  & -($ (*+> & -($ (*+> - "9 *+' D -( ' # -($ ( ,+  *8"F' *8"&""F ( )

32 33

>#-($ ( / ( B*& B*& +3 &

35

Annual Report 2013

1,269,677,471

143


# && ! "(>  =+&% &&& *8

" E #&$- 1   2556 /&$- 3  E""#*+ '&  $* 

-&, D > *+ 1 #-# 2556 *+&' > *+ '& >(& +# "(> +/ >(#F-( & O E( /  (%  ) : ":>#  "/  &#q# " E #&$- 31 #  2556

" # *" " E #&$- 1   2555 /&$- 3  E""#*+ '&  $* 

-&, D > *+ 1 #-# 2555 *+&' > *+ '& >(& & O E( /  (%  ) : ":>#  "/ &#q# " E #&$- 31 #  2555

26

4

26

4

/

139,318,081 139,318,081 (239,346) 139,078,735

2,330,759,812 2,330,759,812 258,983,672 2,589,743,484

Annual Report 2013

139,318,081

139,318,081 139,318,081

  2

2,330,759,812

2,330,759,812 2,330,759,812

&&$-   $L+ 

(12,652,551) (8,940,060)

4,420,527 (708,036) 3,712,491

(15,266,305) 3,712,491

24,390,632 (5,411,836) 18,978,796

( -      (/-+)  &  #" 2&

+3  

15,720,984 55,574,679

39,853,695 39,853,695

16,086,238 39,853,695

23,767,457 23,767,457

#"

 &+  /Â&#x20AC;

 &$-"&/ $  3"$

 ,#&#& # ( #& $-  Â&#x2C6; +#" (L) " $-  + #:%" #&$- 31 #  2556

(287,422,900) 344,813,552 (15,720,984) 602,145,587

418,018,865 142,457,054 560,475,919

(205,077,188) 266,281,158 (16,086,238) 560,475,919

319,498,122 195,860,065 515,358,187

#33"#"

144

258,983,672 (239,346) (287,422,900) 332,161,001 3,377,602,425

2,932,370,980 141,749,018 3,074,119,998

(205,077,188) 251,014,853 3,074,119,998

2,837,734,104 190,448,229 3,028,182,333

  

  : &


# && ! "(>  =&+ % &&& *8

" E #&$- 1   2556 /&$- 3  E""#*+ '& $* 

-&, D > *+ 1 #-# 2556 *+&' > *+ '& >(& +# "(> +/ >(#F-(  & O E( /  (%  ) : ":>#  "/ &#q# " E #&$- 31 #  2556



-&, D > *+ 1 #-# 2555 *+&' > *+ '& >(& & O E( /  (%  ) : ":>#  "/ &#q# " E #&$- 31 #  2555

E""#*+ '& $*

" # *" " E #&$- 1   2555 /&$- 3 

26

4

26

4

/

139,318,081 139,318,081 (239,346) 139,078,735

2,330,759,812 2,330,759,812 258,983,672 2,589,743,484

Annual Report 2013

139,318,081

139,318,081

-

139,318,081

  2

2,330,759,812

2,330,759,812

-

2,330,759,812

&&$-   $L+ 

(3,036,623) (2,179,721)

851,127 5,775 856,902

(18,685,317) 856,902

19,542,219

(5,580,233)

25,122,452

15,720,984 55,574,679

39,853,695 39,853,695

16,086,238 39,853,695

23,767,457

-

23,767,457

(287,422,900) 314,419,685 (15,720,984) 584,844,254

434,676,553 138,891,900 573,568,453

(205,077,188) 274,175,760 (16,086,238) 573,568,453

520,556,119

193,806,645

326,749,474

 x  

( - +3     #"

 #33"#"

  (/-+)  & &+   #" /Â&#x20AC; 2&

 ,#&#& # ( #& $-  Â&#x2C6; +#" (L) " $-  (( ) + #:%" #&$- 31 #  2556

258,983,672 (239,346) (287,422,900) 311,383,062 3,367,061,431

2,945,459,268 138,897,675 3,084,356,943

(205,077,188) 255,490,443 3,084,356,943

3,033,943,688

188,226,412

2,845,717,276

  

  : &

145


 ,#&#& # ( #& $-  Â&#x2C6; +#" (L)  " + #:%" #&$- 31 #  2556   : &  &$-"&

 x  

/ $ 3"$ 2556

2555

2556

2555

" # *"

" # *"

 "

"+ / ( B*&

419,718,370

327,715,078

384,130,018

336,728,572

-(",+ #-'-( / (

64,047,127

68,179,653

64,047,127

68,179,653

 *8"F' *8"&""F ( )

15,931,601

(63,769,192)

15,931,601

(63,769,192)

(78,923)

(412,229)

(78,923)

(412,229)

85,797

246,439

85,797

246,439

(66,072,048)

(46,283,505)

(66,072,048)

(46,283,505)

525

(34,204,335)

525

(34,204,335)

3,032,653

2,542,546

3,032,653

2,542,546

(86,424,302)

(50,793,506)

-($ (E$ % & &

12,465,402

13,304,823

12,465,402

13,304,823

  &&

53,583,831

42,571,603

53,583,831

42,571,603

(147,564,079)

(159,212,730)

(198,400,029)

(219,019,730)

& " 

*8

135,939,639

139,968,975

135,939,639

139,968,975

& " (

*8

(53,310,198)

(42,845,236)

(53,310,198)

(42,845,236)

& " (B*&

(89,950,487)

(2,090,738)

(89,950,487)

(2,090,738)

261,404,908

194,917,646

261,404,908

194,917,646

& >

/ *+& #( %=8 > #F-(& & , + -  %  *+& #( %=8 > #F-(  *8"  "   / %& & , + -  %  (/ ) %& & E, + % %  %' / ( - ' D '"  #(#*>  "(> '(&/ & & #>*"(> "*



*8'& O E

-

-

/  /  & ( *+ '& " ' *8"  /  &

Annual Report 2013

146


 ,#&#& # ( #& $-  Â&#x2C6; +#" (L)  " (( ) + #:%" #&$- 31 #  2556   : &  &$-"&

 x  

/ $  3" $ 2556

2555

2556

2555

" # *"

" # *"

 "

"+ (( ) "  /  & (+#%= 8 )  & & Q "9 &

(462,929,545)

(768,716)

(462,929,545)

(768,716)

F *8"/ $*

(190,473,432)

(33,350,927)

(190,473,432)

(33,350,927)

F *8' "<, 8 %(>& 

1,208,591,250

1,208,591,250 (1,722,209,708)

(1,722,209,708)

& " (<, 8 & & , + -  (64,394,949,930) & " %& & , + - 

(57,593,292,933)

(64,394,949,930)

(57,593,292,933)

64,474,955,300

57,680,735,107

64,474,955,300

57,680,735,107

97,868,654

(2,991,375)

97,868,654

(2,991,375)

1,573,463

1,066,469

1,573,463

1,066,469

  *"8 / $*

(161,426,020)

151,081,040

(161,426,020)

151,081,040

  *8 

(494,444,085)

994,779,925

(494,444,085)

994,779,925

 *8"  "  

(485,289)

(2,276,463)

(485,289)

(2,276,463)

(5,264,630)

(11,445,130)

(5,264,630)

(11,445,130)

(104,562,933)

34,265,887

(104,562,933)

34,265,887

229,857,711

(309,489,178)

229,857,711

(309,489,178)

(140,707,432)

(117,000,000)

(140,707,432)

(117,000,000)

1,018

444,334,905

1,018

444,334,905

"  ,+ " & " % -, B*&  *8"  /  & +#%=8 ( &)

BEF E$ % & &  *8" ,+ & " " # ($  ) # /  &  "

& & " (<, 8 & & E,+ % & " %& & E,+ % & " (<, 8 Â?>'&

(150,965,817)

-

(150,965,817)

-

& " Â?>'&

80,000,000

-

80,000,000

-

& " & O E% && &  

249,464

3,866,346

249,464

3,866,346

& " & O E% && &  (>#

50,835,950

73,216,000

50,835,950

73,216,000

(60,307,202)

(77,792,648)

(60,307,202)

(77,792,648)

2,227,523

39,252

2,227,523

39,252

(218,666,496)

326,663,855

(218,666,496)

326,663,855

& " (<, 8 -' D'"  #(#* > & " % -' D '"  #(#*>  & " " # ($  ) #&

Annual Report 2013

147


 ,#&#& # ( #& $-  Â&#x2C6; +#" (L)  " (( ) + #:%" #&$- 31 #  2556   : &  &$-"&

 x  

/ $  3"$ 2556

2555

2556

2555

" # *"

" # *"

 "

#" & " " *8 *+ '& F ,# ,+ & " ($/" *8*+

'& F ,# ,+ & " ($/ *8"  #"$(& & " +# & O E(

364,550,018

678,870,140

364,550,018

678,870,140

(715,000,000)

(350,000,000)

(715,000,000)

(350,000,000)

(2,180,166)

(32,643,644)

(2,180,166)

(32,643,644)

67,111

-

67,111

-

(28,745,686)

(205,077,188)

(28,745,686)

(205,077,188)

(381,308,723)

91,149,308

(381,308,723)

91,149,308

& " '*(& " +#%=8 ( &) "

(370,117,508)

108,323,985

(370,117,508)

108,323,985

& " '*(& " D > *+ 1 #-#

1,443,205,116

1,334,881,131

1,443,205,116

1,334,881,131

"  &$&" E #&$- 31 # 

1,073,087,608

1,443,205,116

1,073,087,608

1,443,205,116

& " " # ($  ) # &

Annual Report 2013

148


 ,#&#& # ( #& $-  Â&#x2C6; +#" (L) /   + #:%" #&$- 31 #  2556 1.

2&#- 3  - *+ . / (#$ ) (â&#x20AC;&#x153;â&#x20AC;?) ! --*+  8&%=8  )    2536  % ! 

*   '(&)    * '&"B! #$ / #q#>( >#$ / #,+ > *+ 17 #B  2537  #*"/ & ( * &8 F(%*+ 132 -"  1 $8 2 9 > '%>&# * %# > & 10330 D > *+ 31  >-# 2556 ' 2555 #*"% F(/ > 50 "% #,+ > *+ 22 -# 2551 >&-& #  '  %*+ -0002-01  '( '         #%*+ 51/2517 '%*+ 18/2547       '  !     B &(  *8 1. 2. 3. 4. 5. 6. 7. 8.

!  <,8 % -   / ( ! *+=&   & >#   & "(> -- ,#' ,#  & (>#&

    ->#: $ ! *+ = && 8 &'( > *+ 21 #* -# 2555 9= & > *+ 20 #* -# 2560 "/   & -D#/' 

Annual Report 2013

149


#,+ > *+ 13 "&-# 2551   %*+ 0007/2551   B!  <,8 % "<,8 %(>& -D#/'  8& *8 #*E&8 '(> *+ 31 q-# 2551 #,+ > *+ 12 q-# 2553     B,#' ,# J L > (Principal) "/ & -D#/'  "/ B  & >#   & "(> -- ' & (>#& +# /   :( #,+ ->#: $ "/ & -D#/' ' > 2.

#Ef( #"&+ +  2.1  /$*! & ' /&& #q#! B ##L & && '>* M&$**+  &+>  ) '  / %=8 #)% &"/ & -D#/  '  '" & && *8 /%=8 ,+  ! ##L $* J*+ 1 (& 2552) ,+ & â&#x20AC;&#x153; /" && â&#x20AC;? '#% / % &"/ & -D#/'  (â&#x20AC;&#x153;.â&#x20AC;?) *+ "/ %/ . 53/2553 &> *+ 15  >-# 2553 ,+ & â&#x20AC;&#x153;'&& "/â&#x20AC;? 2.2

 /#L & && *+

#('&#(#9, M 8&'(> *+ 1 #-# 2556  /#L & && *+

#('&#(#9, M<=+&

  "B>$$*$*<=+&#*E( && *+#* >$**++# , &> *+ 1 #-# 2556 &(  *8 / b #GL$ J*+ 12 J*+ 20 (& 2552)

B*& $*"/&    L 'K E% #F*+>-># $(>, L J*+ 21 (& 2552) E*+ '&% & '*+ & (&) / b

&  J*+ 8 "(> & /  &  /$ / b #GL$ J*+ 10 ->#$(>, L - D**+ #(#*->#*+>% & (&J& # /  & J*+ 21 B*& - $ $ " *+ #( -  -(",+ #-*+*-#( J*+ 25 B*& - *+ '&"9 B&B*% &, % &EF 9,   {#/&

#GL$ ' >M&$* ,+ &  ' " &&

Annual Report 2013

150


2.3

#L & && *+

#('&#(*+)' >'(& #(#*E&-$ "B>$$*$*

)*+*+>#L & && *->##L $* ' *->##L & && <=+& ) $ ' > &(  *8 / b

&  / /$ / b #GL$/  /$ / b

&  / b #GL$ J*+ 1 (& 2555)  /" && J*+ 7 (& 2555) &'"& "

J*+ 12 (& 2555) B*& J*+ 17 (& 2555) "$( J*+ 18 (& 2555)  J*+ 19 (& 2555) E$ % & & J*+ 21 (& 2555) E*+ '&% & '*+ & (&) J*+ 24 (& 2555) K E% #F*+>--, *+*+>% & J*+ 28 (& 2555) & &  (># J*+ 31 (& 2555) "(> "* (>#-  J*+ 34 (& 2555) && >(& J*+ 38 (& 2555) "  #(#*> / b

&  J*+ 2 (& 2555) ( $  ! DG J*+ 3 (& 2555) ># J*+ 4 " B J*+ 5 (& 2555) "  #(# >* *+9 , > ,+ %'  /  & *+ J*+ 8 (& 2555) "(> & /  &

Annual Report 2013

#&$-$4##*L

1 #-# 2557 1 #-# 2557 1 #-# 2557 1 #-# 2557 1 #-# 2557 1 #-# 2557 1 #-# 2557 1 #-# 2557 1 #-# 2557 1 #-# 2557 1 #-# 2557 1 #-# 2557

1 #-# 2557 1 #-# 2557 1 #-# 2559 1 #-# 2557 1 #-# 2557

151


 /$ / b #GL$ J*+ 15 "$( /  & -"+&F&*+ '(EF $( J*+ 27 #  ,8 "$(*+/%=8 #F' q# J*+ 29 K E% #F% &% &"#  J*+ 32 "  #(#*> -  >: <

1 #-# 2557 1 #-# 2557 1 #-# 2557 1 #-# 2557

 /$ / b

&  J*+ 1 *+ '&  *8" *+ %=8 , 8 9 FD' *8" *+#*D- -=& J*+ 4 # >(% &  >"$(, #( J*+ 5 " "(> "* & ,8 9 FD '&"B'>  # J*+ 7 ,+ & & &B #L $* J*+ 29 ,+ & & &&  "B)L *+#*B>& ;N  '& J*+ 10 && >(&' -( J*+ 12 % &"#  J*+ 13 '#")'(F-  J*+ 17 (" *+ #($(& "   % & J*+ 18  " F- 

1 #-# 2557 1 #-# 2557 1 #-# 2557

1 #-# 2557 1 #-# 2557 1 #-# 2557 1 #-# 2557 1 #-# 2557 1 #-# 2557

EF % &- >( /#L & && J*+*+>% &#+#9, M&& % &#,+ #L &(>#*E&-$  EF % & F(>(&# E( &&  *++#$ #L &(> 2.4

&& #>*"(> "* "(> '(&/ & & #>*"(> "*- !  % & ># && *+'" && & #>*"(> "* & *8

+ #:%" #&$- 31 #  2556 2555 â&#x20AC;&#x153; # *â&#x20AC;?   &  :# ;<* / (#$ ) (>"  EF " $* ,+ ) - "(> '(&/ & & #>*"(> "* () -  % & >#% &

Annual Report 2013

86,424,302 4.2

50,793,506 3.1

152


3.

 #GL$&$-+#G && *8  /%=8  $ DG-  # > #F-(% & &-  % &&& > #*+ K E $* $**+"/-% & "#* &(  *8 3.1 F  -(   -(  <,8 % '"<,8 %(>& 9, !  D > *+  -(# *#' -(# *#F #DG-&- & "(>  -(9, !  # "(> % && *+/":#*+  " /  (%  ) & & '"   /  (%  ) & & '"  F !  , -($ ( D > *+ 

*8&  F ,#,+ <,8 

*89, !  #DG-&- & > '(#*-># #(' (  *:&  '

*8 =&

F 

*8 &(>#DG-&- & D* &(  *8 9, >(#*-># #(' (  *:&  '

*8 1) F *8+> *+#* +/>(#F *8 2) F *8E( $/*+#*&> $/& #( "# , <=+&- &$/&  ,

*88&'("# , %=8  3) F *8E( $/*+#*&> $/&  >("# , > '(#*L *+$  '#*->#!  -( % &' (*+ $/ *88&#

4) F *8"9 & *+#*O 5) F *8 ,+ *+- &$/

*88&'("# , %=8  &,+ % &(>% & ! #DG*+/  "/ & -D#/' 

*8'& O E& &

*8& & 9, !  #DG-&- & & O E& & 9, !  #,+ #*) ( 3.2

F -($ ( -($ ( =#DG-&- & "$( /  & "$(<=+&->#"*+&'E ' "(> (% &!  % &" &-& F(EF  $(9, ! "$(

/  & (B "$( /  &  = &/ %  : ": >* " &

"  $( $ *+ #"$(F  &/ %  : ":! "(>  =+&% &-($(8&"8 #" -($(*+

 %=8  = &/ %  : ":  $**+#* &(>

Annual Report 2013

153


3.3

F ' $*" % &F-   =& *+F- >& > ,+ <,8 %$*& " <,8 % $*& Q <,8 %  -  < '<,8 %"<,8 %(>& ! " ' *8" % &' D > *+ &'" &L &    &(>

8&  " ' *8"  '" &J" ' *8" *+ ! % &( 8

3.4

& " '*(& "

& " '*(& "   > & "  #, & Q -'"> & Q -

#  & Q/*+#* -&, #( 3  , > *+ # ' #(#*BEF Â?>& BE,+ * ' Â?>"$ & *+#*> 9=&/ B 3  , > *+ # <=+&! #)"/ & -D#/ ' 

3.5

& Q "9 & & Q "9 & ' ( & Q/  Â? > "  $  & *+ #*  - &,  >(  3  , > *+ # & Q*+#*BEF '& Q*+#* B 3  , > *+ # '(#*-># 8&*+9, (  F' # ( Â?>

3.6

F *8'  *8"/ $* 

"F *8,   *8*+ $/-<,8 %'"<,8 %(>& E( "/ $* % &)F Q '(> '

"F *8 ,   *8(&)*+ $/ -<,8 % (&)E(   ( &) '" &! 

 " F  *8 ,    *8 "/    $* <= +& ! #)"/  & -D#/   '  *+ "/%/ . 53/2553 ,+ & â&#x20AC;&#x153;'&& "/â&#x20AC;? &> *+ 15  >-# 2553

3.7

F *8'"<,8 %(>&  F *8'"<,8 %(>&  #9=& 

"F *8'"<,8 %(>&  &-(E,+  *8"&""F F *8 '(&! 3 B -, F *8<,8  >& " F *8&  F ,#,+ <,8  ' F *8 ,+ F *8<,8  >& " ! $**+F *8 &$/--(<,8  B 3 > /  F *8&  F ,#,+ <,8 ! $**+F *8"#9F ,#& ,+ <,8    &>&  $/ *8 *+ #(+/>( *+ '(&) / F *8 ,+ >#F *8<,8 '"<,8

%(>&  >& " *+ #("#9$/& B >*+/ 'F *8'"<,8 % (>&  *+ F(>(& /  - *  # *8, E( $/

Annual Report 2013

154


9, M 8&-(E,+  *8"&""F # L F *8'('F *8 >#   D#qDG)% &"/ & -D#/'  *+ . 33/2543 '. 5/2544 &> *+ 25 "&-# 2543 '> *+ 15 #B  2544 #/  <=+&# *8>#9=&D->#"*+&' #F-(% &*+$ -8/ 8&-(E,+  *8"&""F"/F *8#,+  *8 8 #* #(*& '/ , #* "*+F *8$/&  '

*8-, #(-/ > 8& *8 9, ,8 L  $8  *8 '8 &"/  &# DG *+/   "/   & -D#/  '   #* *

& *8 ) #F *8 $8 "F #9=& 1) #F *8% &F *8*+  #>&9# 9=&*+" ' > '( #( $/ *8 ' /  / (  *8"F$*F *8#q#B* ' > 2) #F *8*+ /"  *8 %) #F *8 $8 "&" #9=& #F *8J"(> *+"F& >( % &F *8*+% D & *8 1) F *8+>  F *8"9 & *+#*O 'F *8 ,+ *+#* +/>(#F *8 2) F *8E( $/*+#*&> $/& #( "# , <=+&- &$/&  ,

*88&'("#  , %=8  3) F *8E( $/*+#*&> $/&  >("# , > '(#*L *+$  '#*->#!  -( % &' (*+ $/ *88&#

-) #F *8 $8 +/>(#L #9=&#F *8"(> *+ #("F& >( % &F *8*+% D# %) 8& *8 / (F *8 $8 "F

$* **+ '8&-(E,+  *8"&""F  #(+/>(   =+& % &#F *8 $8 "&"8&/ > 3.8

& & & & *+!  -># &% & <=+&9, > ,+ - '" & #F-(# = *+ '&> #F-(% && & ! / , %   &/ %  : ": & &  " *8*+8&'"#99,  >(-/ '" & -  / (  >%  

-(% && & E(&>(&- *+<,8 ##F-( 9(9 % &" *89F ( >* 

*8*+ ' &

% &" *8*+,

& &  " *8'" <=+&!  -># &% &  , *+9, > ,+ - , 8&9,

>  -/  B! & & E,+ %''" & #F-(# *+ '&> #F-(& &

&(> '" &! &-  ,+ % &"(> % & % & "(> % & % & > %   -(% && & F  &/ %  : ": '#,+ #*/ (& &  &F E/ , %  *+- = &-  ,+ % &"( > % & % & "( > % & % & &%  &/  %  : ":  "/ D**+ ! & & B*+ #*

*8  & =

*8 &/ %  : ": >* 

*8*+' & & &  " <=+& #($( -># &% & '" & - "-(E,+  -( (9 #*) #F-( #% &   -># &% & -/ >D-" <,8 &" D "8 > / "  % &% & '(&)  #F-(#% & (>&   & K -/ >D#F-(

Annual Report 2013

155


" "% & (>& #F-(#% &" *8-/ >D $ E ' " <,8 (" % &"#-# " *8  -/ >D  "/& &  " $ >*9>J*+9(>& 8/  '"/& &  "<,8 %(>&  $ >*% (

(  -( %   -( (9 #*) % && &  = &/ %  : ":#,+ -#$*"F&>(-*+- >( -, 3.9

& &  (># & &  (>#*+'" & F( && *+'" && & #>*"(> "*'" &#F-(#>*"(> "* & &  (>#*+'" & F( && J'" &#F-(#>*-

D > *+<,8 & & F E(&>(&  % && & #F-(#$*% &"   *8" ' *8" *+   %=8 *+  (>#! -(-># # <=+&'" &># F( #F-(#$*& &  =%   -( (9 #*) % && &  (># &/ %  : ": 3.10

*+  -' D *+  '" & - -' D'" & >- -(",+ #-""#'-(E,+  -( (9 #*) -(",+ #- =! -($ ( &/ %  : ":  '-/ >D >*" &#   $   #D% & -' D'( #,+

-' D 8  #$ & #D  $ '" & & *8

- "(> & -/ - *+$( -,+ &'(&' D"/ &   

20 5 3-5 5

   

" *+$( "$(*+ "(> (% &->#"*+&'E ' - - &" *+$( 8 H > #"b&q# B! "$(&& " *+$(*+ # /"$(&&  =! "  >#F-(#, #F-(O % &/ > & %8 +/*+ &(#"$(' >'( / >  +/ >( > +# % &"$(  >-(",+ #-""#'%   -((9 #*) -( $(*+$/ '! "(> *+! -($ ( && '"(> *+ *8#" -($ ( &&  =  & &/ %  : ":  -(

-' D#* "  -(#,+ #*% (&$*8>( -' D 8  -( / '%  / (-/ >D **"+& ' *+ -#$* ' =># &/ %  : ":

Annual Report 2013

156


3.11

"  #(#*> "  #(#*> *+  $ ' ( '" & >- -( / (""# '-(E,+  -( (9 #*) -( / ( = ! -($ ( &/ %  : ": -/ >D >*" &#   $   #D% &"  #(#*> '( #,+ "  #(#*> *+#*    $ ' ( 8  #$ & #D  $ '" & & *8 -(# *#$ "<,8 %(>&  '#- #> 

1 - 5  5 

"  #(#*> *+  $  #(' (  "  -(#,+ #*% (&$*8>( "  #(#*> 8

 -('8&-(E,+  -( (9 #*) 3.12

" *+9, > ,+ % "  ! " *+9, > ,+ % #,+ #F-(# $**+ -, "(> (#%#$(#$ "  8 (  <=+&EF % &- >( %#*->#!  "F&# '"  &(> &#* > ,+

% * "BO " *+9, > , + %  > "&#<=+&'" & >- , #F-(#   % ' >'(- +/>(

3.13

"$( "$('" & >- -( / (""# '-(E,+  -( (9 #*) -( / ( =! -($ ( &/ %  : ": -/ >D >*" &# "$(

3.14

"&#,+ &

"&#,+ & '" & >- -(",+ #-""#'-(E,+  -( (9 #*)

3.15

  *8   *8! B% & '"<,8 %(>& *+#*(

--B 

3.16

 *8" "    =B"/-'" &"  !  *8" ' =*+ '&% &#F-(# & / %  : ": #F-(#% &"/-'" &"  -/ >D-" %&" D "8 > / "  % &% & '(&) 

Annual Report 2013

157


3.17

& F ,# & F ,#F +#' >#F-(#% &"+& ' *+   >( #& F ,#> #F-( >>*- 

/ (#>* 

*8*+' & E(&>(&"+& ' #,+ *#F-(*+(-, ,+ $/ *8 8 F  &/ %  : ":

$(>&>F ,#

3.18

#D *8" F #D *8"  && #,+ "#9#D#F-( *8" 8 (& ($,+ 9, '! BEF  O #,+ #*->#!  -( % &' (*+/ "F"**+#*$ $&)L( ,+ ( $/BEF &(>

3.19

-,+ &#, && -,+ &#, && *+'" & &'" &L &   > & " '*(& " & Q "9 & F *8"/ $* F *8'"<,8 %(>&  & & & &  (>#   *8 "/ $*   *8  *8" "   " *8*+

'& F ,# ,+ ' *8" #"$( & <=+& $*J"/'( K E' >  '(>% *+*+>% &

3.20

E$  & 3.20.1  & "/ &*8&$* & ("# & "/ &*8&$*"/ &  =! -($ (#,+   3.20.2

BEF E$ % & & -/ >DBEF E$ % & & &

& #$- #- &'&&  % "##L &-D )"  B D > "8  >& >> *-  '(  ( >*+ #D > (Projected Unit Credit Method) <=+&! #D#F-(O % &'" & " % &E$  *+ - >(  &(  - -/  >D ,8 L % &% "## L & -D)" B  '( &  ,  & 

 #D & 'O

,+ H 8& *8 -  *+$  -/ >DBEF E$ % & & &

& 8

& & E ' % & L F -($ (-&E$ % & & &

& ! -($ (*+> &  & / %  : ": E/ #D#-D)" B"/-&E$ % & & &

& F  /  (%  ) : ": ,+

3.21

B*& B*&   >B*& O 'B*&   $* B*& O  =B*& O #/ > *+- >((  (>&  :B*% &L  -/ >D/ & B*#DG*+/  q#B*  B*&   $*

Annual Report 2013

158


 =B*&   $*% &E'(&$+>->>(&-#$*% &" ' *8" D > "8   >& L B*% &" ' *8" *+*+>% & 8  $ B**+#*E&-$ D > "8   >& F  *8" B*&   $*% &E'(&$+>->*+ &"*B*'(F " B*&   $*"/ E'(&$+>->*+$  B* >#8&E%  &B**+& #( $  / > (*+#*->#!  -( % &' (*+#*/ &B* -*& *+$ $ E'(&$+>->*+$ B*'E %  &B**+& #( $ 8 > #F-(#$*% &" B*&   $*"8  >& '/  #F-(#$* &(> #*->#!  -( % &' (>( #(#*/ &B**& (  /"  B*&   $*8&# , &"(> #$ $   =B*&   $* & &"(> % & % &B**+ %=8 *+>% &*+  =  & &"(> % & % & 3.22

/ (  %8 ,8 L / (  %8 ,8 L -/ >D / ""/ >/ > 9>J*+9(>& 8/ % & "#*+9,   --B *+

 F( >(&

3.23

$**+! & (&) '&-($**+! "& (&)*+ %=8 >(&&> ! &  > '*+ D > *+  

-&, % &" ' *8" *+! >&  "& (&) D > *+ && '&-(! &  $  & &% & -'(&)  D > 8 / , %  >&  (&)*+ '&-('$/& F !  , -($ ( &/ %  : ":

3.24

$ #D&$*   /&&  ! #$**+ &+>   & )  % &EF  /

$* #D'8&% "##L  <=+&#*E( '" &/ > "    *8" 'K E% #F*+>" ' *8" *+  %=8 D > *+ && >#8&'" & ' -($ (% &$* 9=&'# >(#D% &EF  D (&"#"#EB D D %D 8 E*+  %=8 & #*->#'(& #D 8  #D&$*#* &(  *8 #F-(#% &-,+ &#, &&  K E#F-(#% &-,+ &#, &&  &$   #D#F-(# & 8 #F-(# *+#D%=8 *+K E # && *8=& #(/!  &(&$*89=&/ > & <=+& %=8 & 

'*+   O   $ % "## L & '/, > * #D*+ '( & #* E*+ #* ""/-( #F-(#*+#D%=8

Annual Report 2013

159


4.

 $- #GL$  / $**+>B*&   $*#$ ! -8&'"/&& "/"8 " > *+ 31  >-# 2556  9, M##L $*J*+ 12 ,+ & â&#x20AC;&#x153;B*& â&#x20AC;? & 8 % #F && "/"8 " > *+ 31  >-# 2555 '> *+ 1 #-# 2555 *+ /#**=&! % #F*+ /%=8 # $*#(  E""# *+ '& $*( && #* &(  *8 "b     : &  &$-"& / $ 3"$ E #&$E #&$31 #  1   2555 2555 & # ( ,$3"  /#"#GL$ 

-&, ( *+ '& $* +#%=8 % &" B*&   $* 

-&, &*+ '& $*

141,456,906 141,456,906

189,666,750 189,666,750

( -  

-&, ( *+ '& $*  &% &" B*&   $* 

-&, &*+ '& $*

4,420,527 (708,036) 3,712,491

24,390,632 (5,411,836) 18,978,796

418,018,865 141,451,131 1,005,923 560,475,919

319,498,122 195,246,983 613,082 515,358,187

+3   - #33"#"



-&, ( *+ '& $* +#%=8 % &" B*&   $* +#%=8 % &" B*&   $*% &(># 

-&, &*+ '& $*

Annual Report 2013

160


+3 "&"    : &  &$-"& / $ 3"$ + #:%" #&$- 31 #  2555

,$3" B*& ( *+ '& $* +#%=8 % &B*& B*& &*+ '& $*

,$3"$- #( +3 ("&) " - B*& *+ > &- % &/  (%  ) : ": ,+ ( *+ '& $* +#%=8 % &B*& *+>

&- % &/  (%  ) : ": ,+ B*& *+ > &- % &/  (%  ) : ": ,+ &*+ '& $* +3 & / "( *+ '& $*  &% &/ " / "&*+ '& $* +3 &/#% %b / "(  %8 ,8 L ( *+ '& $*  &% &/ "(  %8 ,8 L / "(  %8 ,8 L &*+ '& $*

Annual Report 2013

15,003,795 52,322,707 67,326,502

3,230,654 3,230,654

312,318,441 (51,929,865) 260,388,576

0.134 (0.022) 0.112

161


"b     : &  x  

E #&$E #&$31 #  1   2555 2555 & # ( ,$3"  /#"#GL$ 

-&, ( *+ '& $* +#%=8 % &" B*&   $* 

-&, &*+ '& $* ( -  

-&, ( *+ '& $* +#%=8 ( &) % &" B*&   $* 

-&, &*+ '& $* +3   - #33"#"



-&, ( *+ '& $* +#%=8 % &" B*&   $* 

-&, &*+ '& $*

138,897,675 138,897,675

188,226,412 188,226,412

851,127 5,775 856,902

25,122,452 (5,580,233) 19,542,219

434,676,553 138,891,900 573,568,453

326,749,474 193,806,645 520,556,119

+3 "&"    : &  x  

+ #:%" #&$- 31 #  2555

,$3" B*& ( *+ '& $* +#%=8 % &B*& B*& &*+ '& $*

Annual Report 2013

15,003,795 53,441,599 68,445,394

162


+3 "&"    : &  x  

+ #:%" #&$- 31 #  2555

,$3"$- #( +3 ("&) " - B*& *+ > &- % &/  (%  ) : ": ,+ ( *+ '& $* +#%=8 % &B*& *+> &- % & /  (%  ) : ": ,+ B*& *+ > &- % &/  (%  ) : ": ,+ &*+ '& $* +3 & / "( *+ '& $*  &% &/ " / "&*+ '& $* +3 &/#% %b / "(  %8 ,8 L ( *+ '& $*  &% &/ "(  %8 ,8 L / "(  %8 ,8 L &*+ '& $*

Annual Report 2013

4,112,862 4,112,862

321,724,777 (53,441,599) 268,283,178

0.138 (0.023) 0.115

163


5.

2 -/$- # " *+ #(*+>% && " #* & *8 5.1 "$(& "/ D '   #* & *8

 *8" #"$(& # > <,8 +# () "$(& "8 " " () & " ( >

*8 $*  *8" #"$(&   5.2

 &$-"& / $ 3"$   x  

+ #:%" #&$- 31 #  2556 2555 & & 5,422,380 27,177,415 12,384,421 (1,762,500) (2,180,166) (32,643,644) 186,498 266,688 3,428,712 5,422,380

 >(&"8 " > *+ 31  >-# 2556 ' 2555 #*%  > #F-(& & E,+ %'& "(>   > #F-(& & E,+ %*+%>(&'*+ " &!  &-  ,+ % &"(> % &  % & && *+'" && & #>"* (> "*/ > #D 12.7    '#D 15.3    #/  '&& J/ > #D 3.0    '#D 18.7    #/ 

Annual Report 2013

164


6.

"  &$&"  &$-"& / $ 3"$   x  

E #&$- 31 #  2556 2555 & & & " & Q"8 'Â?>"$ & "8 *+#*  #( 3  , > *+ # () & Q #,+ F- * >#

1,747,942,993 (674,855,385) 1,073,087,608

2,203,273,437 (760,068,321) 1,443,205,116

(* #)% &"/    & -D#/         '       & Q #   ,+ F-  #( &'" &! " ' *8"  && ) 7.

Â&#x192;*#  7.1 D > *+ 31  >-# 2556 ' 2555 #*& Q "9 & & *8  &$-"&/ $  3"$   x  

E #&$- 31 #  2556 E #&$- 31 #  2555 3  

 3  

 3 " 3 " / 3 " 3 " / 3 1 : 3 1 : & & & & & & & Q/ 1,350,000,000 300,000,000 1,650,000,000 720,000,000 400,000,000 1,120,000,000 & Q*+  BEF 69,310,000 69,310,000 37,070,455 69,310,000 106,380,455 () & Q #,+ F- * (850,000,000) (300,000,000) (1,150,000,000) (720,000,000) (400,000,000) (1,120,000,000) ># 500,000,000 69,310,000 569,310,000 37,070,455 69,310,000 106,380,455

(* #)% &"/    & -D#/         '       & Q #   ,+ F-  #( &'" &! " ' *8"  && )

Annual Report 2013

165


7.2

D > *+ 31  >-# 2556 ' 2555 & Q "9 & % &  / >&!      - & *8  &$-"& / $ 3"$   x  

E #&$- 31 #  2556 2555 & &  &", -8/ #&,+ %% &" <,8 /% % &  < /

( F#% 36.2) -8/ >&& " $,+ &  $*'& F ,#

,+ H >#

8.

15,070,000 54,000,000 240,000 69,310,000

15,070,000 91,070,455 240,000 106,380,455

2$%+###GL$

F *8"/ $* F *8(&) () F *8"/ $* #,+ F- * >#

 &$-"& / $ 3"$   x  

E #&$- 31 #  2556 2555 & & 519,888,196 316,805,638 40,023,256 14,202,603 (116,971,103) (78,541,324) 442,940,349 252,466,917

(* #)% &"/    & -D#/      '     F  *8 "/     $*  #   ,+ F-  #( &'" &! " ' *8"  && )

Annual Report 2013

166


9.

2$% #& # ( #GGD% &  &$-"& / $ 3"$   x  

E #&$- 31 #  2556 2555 & & F *8 F *8<,8  >& "

&  F ,#,+ <,8  F *8 ,+ - F *8*+ F(>(& /  - * - F *8 / ' ,+ H >#F *8 () -(E,+  *8"&""F ( F#% 10) >#

888,615,382 597,706,948

1,417,938,038 1,271,641,012

396,739,119 912,648 1,883,974,097 (352,950,970) 1,531,023,127

402,529,185 457,113 3,092,565,348 (336,882,253) 2,755,683,095

F *8<,8  >& " % DG $8 ! F *8  #*&,+ % $/& B 3 > /  > *+F- "+&<,8

D > *+ 31  >-# 2556 ' 2555 #*F *8*+&F  / > #D 397.7    ' #D403.0    #/  "/&& *+'" && & #>*"(> "*'&& J  <=+&  8&-(E,+  *8"&""F"/#F *8*+ $8 "&" "F 8& / > ' > #)% &"/  & -D# /'  ,+ & â&#x20AC;&#x153; /$**+>F *8 -DB% &â&#x20AC;? *+ . 33/2543 &> *+ 25 "&-# 2543 <=+&' %+### &", *+ . 5/2544 &> *+ 15 #B  2544

Annual Report 2013

167


 /' F *8'

*8- &#)% &"/ & -D#/'

 ,+ & â&#x20AC;&#x153; /$**+>F *8 -DB% &â&#x20AC;? <=+& * % &F *8 $8 " & *8   : &  &$-"&/ $ 3"$  x  

E #&$- 31 #  2556 E #&$- 31 #  2555 2$%  4- 22$% 2$%  4- 22$%     #& # ( $%# 2G #& # ( #& # ( $%# 2G #& # ( "$% # & "$% # & #F *8  #F *8  $8 +/>(#L #F *8  $8 "&""F >#

10.

1,486.3 44.7 353.0 1,884.0

(353.0) (353.0)

1,486.3 44.7 1,531.0

2,689.6 66.1 336.9 3,092.6

(336.9) (336.9)

2,689.6 66.1 2,755.7

4-$%# 2G  &$-"& / $ 3"$   x  

E #&$- 31 #  2556 & 336,882,253 16,068,717 352,950,970



  ()  *8"&""F ( ) 



Annual Report 2013

2555 & 400,560,201 (63,677,948) 336,882,253

168


11.

&& 11.1 - '#F-(#  &$-"&/ $  3"$   x  

E #&$- 31 #  2556 E #&$- 31 #  2555

&/ 2/



&/ 2/



&

& /#"+/ /#"+/

/#GL$

/#GL$ & & & & & -   :  * () -(E,+ #F-( >#& & ,+ - " /  $%&$-  +" * 1 : Â?>'& () "(>  (>&  -(E,+  -( >#" *8*+-/

B 1 " &4-   :  (>&  * > () -(E,+ #F-( -(E,+  -( () >#& & E,+ %" &&#- 3  (>&   () -(E,+  -( >#& & +> " >#

1,173,880 (880) 1,173,000

1,173,000 1,173,000

15,107,202 (79,802) 15,027,400

15,027,400 15,027,400

219,000,000 (3,604,336) (139,000,000)

76,395,664 -

139,000,000 (139,000,000)

-

76,395,664

76,395,664

-

-

1,000,000 46,420,754 (2,717,051) (5,713,322) 38,990,381

872,557 38,117,824 38,990,381

1,000,000 5,713,322 926,171 (5,713,322) 1,926,171

1,046,171 880,000 1,926,171

100,629,565 41,605,192 (21,344,042) 120,890,715 237,449,760

100,401,965 21,570,036 121,972,001 238,531,046

631,107 41,605,192 (21,191,486) 21,044,813 37,998,384

556,063 21,840,320 22,396,383 39,349,954

& & % & *8 #(>#*+F- Q >  ,+ >9"&-  ! >'  <,8

%' F- 

Annual Report 2013

169


11.2

& &  " *8 # -&, % &"  &$-"&/ $ 3"$   x  

E #&$- 31 #  2556

* 1 :   1 - 5 :   5 :

 & & & & " *8*+-/

>#

76,395,664 76,395,664

-

-

76,395,664 76,395,664

D > *+ 31  >-# 2555 #*& &  " *8/ > 139.0    <=+&8&-(E,+  -( % && & 8&/ > ' > 11.3

/  (%  ) *+& #( %=8 > #F-(& & E,+ %*+F  &-  ,+ % &"(> % & % & "(> % & % &



  *+ '&>(& - > #F-( - &"(>   > #F-(& & E,+ %*+%* 



 &$-"& / $ 3"$ E #&$31 #  2556 2555 â&#x20AC;&#x153; # *â&#x20AC;? & & 3,712,491 18,978,796

 x  

E #&$31 #  2556 & 856,902

2555 â&#x20AC;&#x153; # *â&#x20AC;? & 19,542,219

(12,652,551)

9,125,125

(3,036,623)

5,706,113

(8,940,060)

(24,391,430) 3,712,491

(2,179,721)

(24,391,430) 856,902

(*  &(>-F ! / > #F-(& &  &/ %  : ": ,+  ( "/"8 "

> *+ 31  >-# 2556 ' 2555 & & &(> / (

 'F ! / , %  & &  &/ %  : ":)

Annual Report 2013

170


11.4

/ & &

/ *+& #( %=8 > #F-(& & ,+ -  / %& & ,+ -  /  (%  ) %& & E,+ % ># 11.5

*8'& O E

*8 & O E >#

11.6

 &$-"& / $ 3"$   x  

+ #:%" #&$- 31 #  2556 2555 & & 78,923 412,229 66,072,048 46,283,505 (525) 34,204,335 66,150,446 80,900,069

 &$-"& / $ 3"$ + #:%" #&$- 31 #  2556 2555 & & 90,710,025 67,826,461 249,464 17,275,346 90,959,489 85,101,807

 x  

+ #:%" #&$- 31 #  2556 2555 & & 90,710,025 67,826,461 51,085,414 77,082,346 141,795,439 144,908,80 7

D > *+ 31  >-# 2556 ' 2555 #*& &  *+#*O*+>L & 'E /  &

& *8

 "#

 &$-"&/ $ 3"$   x  

#&$- 31 #  2556 #&$- 31 #  2555

&/ 2 4-

&/ 2 4-

/ /

  " / /

  " #GL$ #GL$ & & & & & & 21,116,442 21,116,442 21,116,442 21,116,442

Annual Report 2013

171


12.

&* ,#&  & D > *+ 31  >-# 2556 ' 2555 #*& &  (># & *8 L- ,#&

           &  : #  ; <* /  

(#$ ) () -(E,+  -( >#

$ 3"$ E #&$31 #  2556 2555 â&#x20AC;&#x153; # *â&#x20AC;?

  : & C4 + #:%" #&$- 31 #  2556 2555

$ & E #&$31 #  2556 2555

340.2

314.2

532.6

532.6

50.8

59.8

340.2

314.2

(205.6) 327.0

(205.6) 327.0

50.8

59.8

 * '% #F&&  "% &(># #* & *8   : & E #&$- 31 #  2556 2555 â&#x20AC;&#x153; # *â&#x20AC;?   &  :# ;<* / (#$ ) D :   & )*+ 8& :  " "(> & & *+9, ( ) #F-(& & #>*"(> "* #F-(& & #>*- "  *$/ " >#  *8" >#

Annual Report 2013

24.9 340.2 327.0 120.0 1,638.6 286.1

24.9 314.2 327.0 120.0 1,462.6 208.4

172


  : & + #:%" #&$- 31 #  2556 2555 â&#x20AC;&#x153; # *â&#x20AC;? 1,179.1 829.1 340.8 197.8 302.2 211.6

 ># / " / : ":>#

D > *+ 31  >-# 2554 & &  (># &(>% & / > 26     ' &/ / )F Q  () ) / ,+ !  & F ,#"9 &  >&& 120.0     #F-(% &

&(> & #(+/>( 2 (% &>&& " $,+  *8  "* & $*& Q,+ & O E% &  &(> >(-  30 % &>&& F ,#!  $/ *88&#

> ( ##,+ > *+ 20 #* -# 2555  9(9 & &  (># &(>% & *+  ' &/ / > ,+ !  >&& F ,#"9 & / > 10    / -&, & &  (>#*+/ /!  / > 16     *+ % &'&,+ % ,+ #(*+ '&

(  & :  # #,+ > *+ 20 # 9  2556      >&& " $,+  & (  >%  &  # 9( 9    *+!  $/ *88&#

D > *+ 31  >-# 2555  #(#*$ >&& F ,# *8

Annual Report 2013

173


13.

&$-"    E(&  &$-"&/ $ 3"$  x  

"  -7% " / " E #&$() E #&$31 #  31 #  2555 2556 & & & & &

& *+ 

- "(> & -/ - *+$( -,+ &'(&' D"/ &    "(> & ->(&( " & >#-

30,293,000 19,572,300 253,829,655 387,760,357 49,518,697 1,720,560 742,694,569

5,009,890 23,150,392 23,704,293 51,864,575

(13,869,749) (14,255,814) (6,806,834) (34,932,397)

24,528,145 (24,528,145) -

30,293,000 19,572,300 269,497,941 396,654,935 42,711,863 896,708 759,626,747

-  

- "(> & -/ - *+$( -,+ &'(&' D"/ &    >#-(",+ #-""# -(E,+  -( >#

(15,501,327) (152,079,559) (325,203,031) (44,574,700) (537,358,617) (1,992,803) 203,343,149

(660,372) (30,201,380) (30,389,283) (2,073,966) (63,325,001) -

9,324,798 14,128,765 6,175,808 29,629,371 42,850

-

(16,161,699) (172,956,141) (341,463,549) (40,472,858) (571,054,247) (1,949,953) 186,622,547

Annual Report 2013

174


 &$-"&/ $ 3"$  x  

"  -7% " /  #  " E #&$() E #&$31 #  31 #  2554 2555 & & & & & &

& *+ 

- "(> & -/ - *+$( -,+ &'(&' D"/ &    "(> & ->(&( " & >#-

30,293,000 19,572,300 200,115,275 379,017,006 49,518,697 17,505,200 696,021,478

1,034,332 37,363,890 46,291,767 84,689,989

-  

- "(> & -/ - *+$( -,+ &'(&' D"/ &    >#-(",+ #-""# -(E,+  -( >#

(14,519,658) (132,116,716) (311,717,250) (40,047,167) (498,400,791) (9,107,189) 188,513,498

(981,669) (25,242,850) (36,674,216) (4,527,533) (67,426,268) -

- + #:%" #&$- 31 #  2556 2555

(7,724,405) 60,404,453 (30,440,223) 1,671,954 (62,076,407) (38,164,628) -

5,280,007 23,188,435 28,468,442 7,114,386

-

147,730 147,730

30,293,000 19,572,300 253,829,655 387,760,357 49,518,697 1,720,560 742,694,569

-

(15,501,327) (152,079,559) (325,203,031) (44,574,700) (537,358,617) (1,992,803) 203,343,149

&

63,325,001

&

67,426,268

D > *+ 31  >-# 2556 ' 2555 #* -' D/ >  =+&<=+& -(",+ #-# ' > '(&$ & F( - ( -(",+ #-""#% & -' D &(>#*/ > >##D 356.0    '#D 345.0    #/  D > *+ 31  >-# 2556 ' 2555 #*"$(&   "<+& )'(& =+& D > *+ 31  >-# 2556 ' 2555 #F-(#$*% &  *+$(#*/ > >##D 2.2    '#D 3.0    #/ 

Annual Report 2013

175


14.

& # (3$/# /&  &$-"&/ $  3"$  x  

 /#" "  -7% " / /#" 4- + E #&$() +  "  31 #  2555 & & & & & & -(# *#$  "<, 8 %(>& " '#- #> "    -("#$"<, 8 %(>&  '#- #> >(& 8& >#

0 - 2  -

76,869 68,064,929 2,657,500 15,945,000 1,657,908 88,402,206

2,838,630 5,603,997 8,442,627

-

982,725 (982,725) -

(76,865) (192,518) (269,383)

-

" E #&$31 #  2556 &

4 71,693,766 2,657,500 15,945,000 6,279,180 96,575,450

 &$-"&/ $  3"$  x  

 "  -7% " /  #  /#" 4- " /#" E #&$() +  " E #&$+   31 #  31 #  2554 2555 & & & & & & & & -(# *#$  "<, 8 %(>& " '#- #> "    -("#$"<, 8 %(>&  '#- #> >(& 8&

0 - 1  183,430 0 - 3  63,272,657 -

>#

2,657,500 15,945,000 1,303,671 83,362,258

1,597,57 0 3,889,51 0 5,487,08 0

/#"++ #:%" #&$- 31 #  2556 2555

-

3,387,543

-

(3,387,543) (147,730)

-

-

-

(147,730)

(106,561) (192,841)

-

76,869 68,064,929

-

-

2,657,500 15,945,000 1,657,908

(299,402)

-

88,402,206

&

269,383

&

299,402

D > *+ 31  >-# 2556 ' 2555 #*"  #(#*> / >  =+& <=+& / (# ' >'(&$ & F( - ( -( / (""#% &"  #(#*> &(>#*/ > >##D 10.5   

Annual Report 2013

176


15.

& # ( ,$3"  /#"#GL$ " B*&   $* D > *+ 31  >-# 2556 ' 2555 #* *

& *8  &$-"& / $ 3"$ E #&$31 #  2556 2555 & & " B*&   $*

 x  

E #&$31 #  2556 &

2555 &

143,055,030

141,456,906

145,690,285

138,897,675

143,055,030

141,456,906

145,690,285

138,897,675

-,+ >% &" B*&   $**+ %=8  >(& #* & *8  &$-"&/ $  3"$ "/:  &$- # 2*  &$- # 2* ": 1   +3   +3 " - 31 #  2556 "& 2556 & & & & E'(&$+>-> -(E,+  *8"&""F -(E,+  -(% && &  (># -(E,+  -(% && & " B "$(& BEF E$ % & & "(>   > #F-(& &

,+ H >#

62,702,132 43,677,228 27,800,000 475,807 6,459,672 5,775 336,292 141,456,906

Annual Report 2013

3,120,261 (5,194,486) (237,862) 2,913,300 237,755 838,968

759,156 759,156

65,822,393 38,482,742 27,800,000 237,945 9,372,972 764,931 574,047 143,055,030

177


 &$-"&/ $  3"$ "/:  &$- # 2*  &$- # 2* ": 1   +3   +3 ("&) 31 #  "& 2555 " - 2555 & & & & E'(&$+>-> -(E,+  *8"&""F -(E,+  -(% && &  (># -(E,+  -(% && & " B "$(& BEF E$ % & & "(>   > #F-(& & %  ""#&B*

,+ H >#

77,284,951 42,558,335 27,800,000 932,732 9,377,379 (5,580,233) 37,125,642 167,944 189,666,750

(14,582,819) 1,118,893 (456,925) (1,444,561) (37,125,642) 168,348 (52,322,706)

(1,473,146) 5,586,008 4,112,862

62,702,132 43,677,228 27,800,000 475,807 6,459,672 5,775 336,292 141,456,906

 x  

"/:  &$- # 2*  &$- # 2* ": 1   +3  "& +3 " - 31 #  2556 2556 & & & & E'(&$+>-> -(E,+  *8"&""F -(E,+  -(% && &  (># -(E,+  -(% && & " B "$(& BEF E$ % & & "(>   > #F-(& &

,+ H >#

62,702,132 41,117,997 27,800,000 475,807 6,459,672 5,775 336,292 138,897,675

Annual Report 2013

3,120,261 (237,862) 2,913,300 237,755 6,033,454

759,156 759,156

65,822,393 41,117,997 27,800,000 237,945 9,372,972 764,931 574,047 145,690,285

178


"/: 1   2555 & E'(&$+>-> -(E,+  *8"&""F -(E,+  -(% && &  (># -(E,+  -(% && & " B "$(& BEF E$ % & & "(>   > #F-(& & %  ""#&B*

,+ H >#

77,284,951 41,117,997 27,800,000 932,732 9,377,379 (5,580,233) 37,125,642 167,944 188,226,412

 x  

 &$- # 2*  &$- # 2* ": +3   +3 ("&) 31 #  "& " - 2555 & & & (14,582,819) (456,925) (1,444,561) (37,125,642) 168,348 (53,441,599)

(1,473,146) 5,586,008 4,112,862

62,702,132 41,117,997 27,800,000 475,807 6,459,672 5,775 336,292 138,897,675

$ B*  20  -/ >DB*&   $*"/"8 " > *+ 31  >-# 2556 ' 2555

Annual Report 2013

179


16.

& # (-&

B*& 9F  D *+( -($ (((>&   &  ' ->#"* $/-'"(&#  F *8&   &('&  F ,#'( & "$("

"&#,+ & " & # /  - &

,+ H >#

 &$-"& / $ 3"$   x  

E #&$- 31 #  2556 2555 & & 1,293,644 1,573,463 6,616,664 8,287,939 41,047,484 36,035,231 8,533,060 12,509,769 1,452,499 1,905,241 24,066,779 24,066,779 26,638,047 26,286,618 16,457,553 9,080,918 1,782,192 1,554,110 127,887,922 121,300,068

D > *+ 31  >-# 2556 ' 2555 "&#,+ & " &(>% &  / & > !  >&& " $,+ "9 &  )'(& =+& 17.

$%/   #( D > *+ 31  >-# 2556 ' 2555  *8" "     >  &$-"&/ $ 3"$  x  

E #&$- 31 #  2556 E #&$- 31 #  2555 2/

 + /#GG 2/

 + /#GG & & & & /   #( - "/-'" &"  

57,273

Annual Report 2013

247,379

456,765

3,349,610

180


18.

/  $%&$- 2- D > *+ 31  >-# 2555 " *8*+

'& F ,# ,+   >

" *8"8 19.

 &$-"&/ $ 3"$  x  

E #&$- 31 #  2555

  $%&$-  +"L+ #/ "$%   1 : 1 - 5 :   5 :



 & & & & 4.85 - 5.50 338,911,299 338,911,299

$%/#GGL  D > *+ 31  >-# 2556 ' 2555  /"$(  B "$(& >  #*/ > & %8 +/ *+ &("/"$(& & *8

#( 1   >( 1  '( #( 5  ()

*8  $* >#

 &$-"&/ $ 3"$   x  

+ #%/-+&$-/ 2C# + #%/-+&$-/ E #&$- 31 #  E #&$- 31 #  2556 2555 2556 2555 & & & & 481,848 2,180,166 317,741 1,993,668 3,218,340 3,700,188 3,110,971 3,428,712 3,700,188 5,880,354 3,428,712 5,422,380 (271,476) (457,974) 3,428,712 5,422,380 3,428,712 5,422,380

Annual Report 2013

181


20.

 42 #4 L( # #*-&E$ % & & &

& #$- #- &'&& <=+& ! -& E$ *+/ > *+ #(   #* & / > *+ = &/ %  : ":"/E$ % & & &

& #* & *8  &$-"& / $ 3"$   x  

+ #:%" #&$- 31 #  2556 & 11,032,262 1,433,140 12,465,402

  O  

*8 >#

2555 & 11,831,631 1,473,192 13,304,823

*+ '& #F-(O % &BEF #E$ % & & &

& #* & *8



#% &BEF E$ % & &   O  

*8 E/ #D#-D)" B "/-&E$ % & & &

& () E$ % & & ( >(& 



Annual Report 2013

 &$-"& / $ 3"$   x  

+ #:%" #&$- 31 #  2556 2555 & & 39,664,089 45,170,124 11,032,262 11,831,631 1,433,140 1,473,192 (5,264,630) 46,864,861

(7,365,728) (11,445,130) 39,664,089

182


% "##L  #D#-D)" B*+$  -/ >DBEF B -&E$  % & & &

& *+/ > D > *+ 31  >-# 2556 ' 2555 #* &(  *8  &$-"&/ $ 3"$   x  

E #&$- 31 #  2556 2555 (  /:) (  /:) % "##L &&

- 

# >* % & &

+#%=8 % &&  , *+- >

21.

3.6 0 â&#x20AC;&#x201C; 22.0 %=8 F($(>& % & & 0 â&#x20AC;&#x201C; 4.0

3.6 0 â&#x20AC;&#x201C; 22.0 %=8 F($(>& % & & 0 â&#x20AC;&#x201C; 4.0

$%-

 "- &( -( '   *+ - &( "(> '(&/ "%/*# - &( B*&  D *+( 'B*J- &(   *8B*#F-(+#   *8 ,+ B*& --- &( -($ (- &( ,+

*8- &( >#

Annual Report 2013

 &$-"& / $ 3"$   x  

E #&$- 31 #  2556 2555 & & 50,993,350 41,297,213 2,729,837 15,228,967 29,951,252 32,562,229 8,831,718 14,016,904 3,935,444 9,009,854 16,229,712 15,613,611 12,913,057 52,684,436 53,719,559 815,068 165,355,749 195,176,462

183


22.

&  #,+ > *+ 19 #-# 2553   " "#+# '"/-'" &"*+<,8  "#% & ( *+ 5  '(EF 9,   # % &*+ &<,8  "#+# / > 464,393,602   -  1.30  ' 464,393,602  (>   #(- #F-(

"(> 1  "##( ( 1  (>"/-'" &" #/    &  " "#+# -8& *8! / > & ># 603,711,683  8& *8 "/-'" &" 1  (> "#9$ "<,8  "# 1   -  1.50   "/-'" &" 3  > *+

'" %"/-'" &" 8& *8! #&,+ %$ "#"/-'" & " EF 9, "/  - '" &"  "#9$ "  <,8  "#  % &  B & /  > 6  ,  '( > *+

 "/-'" &"  >(- % &"/-'" &" '/  "#9$ " H 3  ,  > /"   % & , #* -# #9    ' >-#% &'( 

% &"/-'" &"  / $ "-8&' -, > *+ 30   2553 '> / $ "-8&"   -, > *+ 18 #-# 2556 <=+&! > *+"/-'" &"#*  -/ 3  '(> *+

"/-'" &" #,+ > *+ 25 #-# 2553   * +# *+

'*$/' >/ > 464,393,602  #I -  >&D$ ( # '(&)  "#+# '"/-'" &"*+<,8  "#% & ( *+ 5 !  * 8&'(> *+ 3 #B  2553 #,+ > *+ 8 # 2554 *+$#"#EF 9,  / 2554 #*# #(& O E '(EF 9,   *+ >(  *+/  % / "% &"/-'" &"*+<,8  "#% &( *+ 5 =& $ "'- $ "#(#&,+ %" ! "/-'" &" 1  (> "#9$ "<,8  "# 1.0625   -   1.412  #*E&-8&'(> *+ 18 # 2554 !   #,+ > *+ 18 #-# 2556 "/-'" &"*+<,8  "#% &( *+ 5 / > 464,393,602  (> 9=&/ $ "-8&"  <,8  "#% &  #*EF #% $ "/ > 44,738  (> '&!  "#/ > 47,529  -

!   1.412  ! / > & 67,110.95  8 & *8#*E/  #*  *+

'* $/ ' >+ #%=8  2,330,759,812  ! 2,330,807,341   / "#+# &(>  * *+ '& *+

'* $/' >( >&D$#,+ > *+ 25 #-# 2556 ( #  '(&)  "# +#  &(>!  * 8&'(> *+ 30 #-# 2556 #,+ > *+ 22 # 2556 *+$#"#EF 9,  / 2556 #*# #    * % &  >*  *+/ ( #( # / > 818,741,975  '#,+ > *+ 3 fB-# 2556   *    * % &#I  -  >&D$ /   * % &! / > 2,330,807,341  #F-(*+ >   1.00  ! / > & ># 2,330,807,341   *8 *+$#"#EF 9,  / 2556 #*# +#  * % & # 2,330,807,341  ! 3,189,785,935   

 "##(/ > 858,978,594  #F-(*+ >   1.00  ,+  &( & O E!  / > 258,978,594  '$ "  % &EF 9, "/ - '" &"  *+ <,8  "# % &  #-& ESOP -8 &*+ 2 /  > 600,000,000  '#,+ > *+ 7 fB-# 2556   * +#  * #I -  >&D$ /   * % &! / > 3,189,785,935  #F-(*+ >   1.00  ! / > & ># 3,189,785,935 

*8&*+$#"#EF 9,  / 2556 #*# #  " "#+# / > 858,978,594  #F-(*+ >   1.00   # 2,330,807,341  ! 3,189,785,935     " "##(/ > 258,978,594  #F

Annual Report 2013

184


-(*+ >   1.00  ,+  &(O E!  '  " "##(/ > 600,000,000  #F-(*+ >   1.00  ,+  &$ "% &EF 9, "/-'" &"*+<,8  % &#-& ESOP -8&*+ 2 #,+ > *+ 20 fB-# 2556 (O E!  "# '(EF 9,  % &  9   #( 1  #( >#!  O E8&"8 258,936,143  '#,+ > *+ 21 fB-# 2556   * + # *+

'*$/' >/ > 258,936,143  #I -  >&D$ ( #   ' (& )   "# +#  !  * 8&'(> *+ 23 fB-# 2556 D > *+ 31  >-# 2556 ' 2555 -/ >D "#9>J*+ 9(>& 8/  & *8

 "#*+

 D > *+ 1 #-# E *++#%=8  >(& #G/ $# x$- %+#+ #: %" #&$- 31 # 

 &$-"& / $ 3"$  x  

+ #:%" #&$- 31 #  2556 2555   2,330,759,812 2,330,759,812 160,373,290 2,491,133,102

2,330,759,812

23.

 2 #    ' ( & $        #$ /   .). 2535 # 51  D* *+     " % "F&>(#F-(*+ * >  & /-( "(>  *88&!  "/ & (â&#x20AC;&#x153;"(>  #F-( â&#x20AC;?) "(>  #F-( *8 / (! & O E #(

24.

*+#G"&&$- D%#G/  #"



  # #,+ > *+ 28  >-# 2552 

'" %"/-'" &"*+<,8  "#% &B$,+ EF 9, '  *+ #, #( / > 350,000,000  (>  #(- #F-( '(# EF   & '/, *+=% & #-& " '(#' & (â&#x20AC;&#x153;ESOPâ&#x20AC;?) -8&*+ 1 ##$#>" # EF 9,  -8& *+ 2/2552 ' > "/-'" &" 1  (> "#9$ "<,8  "# 1   -  1.50  EF 9, "/-'" &""#9$ "<,8  "#% & B& / > 6  , > *+

"/-'" &"  $ "   , D > /"  % &'( , 

% &"/-'" &" & *8 B *+ 1 "#9$ "<,8  "#% & #(   33 % &"/-'" &"8&# *+EF 9, "/-'" & "'(-  " '"#9$ " - % &"/-'" &"

Annual Report 2013

185


B *+ 2 "#9$ "<,8  "#% & #(   67 % &"/-'" &"8&# *+EF 9, "/-'" &" '(-  " '"#9$ " - % &"/-'" &" B *+ 3 "#9$ " #/ > 8&# *+EF 9, "/-'" &"'(-  " 8& *8 > *+ "#9$ "  -8 &' (“> /  $ "-8&'”) -, > *+ 30 # 9  2553 '> "  % &$ " (“> / $ "-8&"  ”) -, > *+ 27  >-# 2555  *8 "/-'" &"*+

 *8 #( %  *  

'(&)  '( / "#$ "% &EF 9, "/-'" &"% !  *   '(&)  D > *+ 27  >-# 2555 <=+&! > "  % &$ " 8 #(#*EF #$ "<,8  "# #,+ > *+ 8 # 2554 *+$#"#EF 9,  / 2554 #*# #(& O E '(EF 9,    *+ >(

*+/  % / "% &"/-'" &"*+<,8  "##-& " '(#' & (“ESOP”) -8& *+ 1 =& $ "'-$ "#(#&,+ %" ! "/-'" &" 1  (> "#9$ " <,8  "# 1.0625   -  1.412  #*E&-8&'(> *+ 18 # 2554 !   #,+ > *+ 22 # 2556 *+$#"#EF 9,  / 2556 #*# #

'" %"/-'" &"*+<,8  "#% & '(# EF   & '/, *+=% &#-& ESOP -8&*+ 2 / > #( 600,000,000  (>   #(- #F-( % &"/-'" &" #( 3   > *+

'" %"/-'" &" &8 *8 "/-'" &" 1  (> "#9$ "<,8  "# 1   -  1.30   ,+ &#L & && J*+ 2 ,+ & “( $  ! DG” #*E&-$ "/ >$**++#  , &> *+ 1 #-# 2554 "/ M $(>&*+ '& *8  #( &M ##L & & & J *8"/ "/- '" &"*+ <,8  "# <=+&   # *+ $#"#EF 9,  ( > *+ 1 #-# 2554 '(&-& &K E% #F#*+/  #L & && &(> 25.

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/& > <=+&-&" &% & *+#"#

26.

C4 #,+ > *+ 5 # 2555 *+ $#"# EF 9,  /  2555 #*# #  "/ ""#,+ (& O E / 2554 '(EF 9,  "#   0.088  >#! & 8&"8 205.1    & O E &(> (' >> *+ 27 # 2555 #,+ > *+ 22 # 2556 *+$#"#EF 9,  / 2556 #*# # "/ "!  "/ &# q#/ > 39,853,695  '(O E!  '& "

& *8 - (O E!  "# '(EF 9,  % &   9   #( 1  #( >#!  O E 8&"8 258,978,594  #F-(*+ >   1.00  - ! & / > 258,978,594  , - ! (O E( 0.111 (   D**+#*) (& O E! & " '    0.111  ' - (O E! & "  '(EF 9,  % &    0.012  - ! & / > 28,775,399  ,+  & B* D *+(# *+q#/

Annual Report 2013

186


#,+ > *+ 20 fB-# 2556  (& O E '(EF 9,  % &!  '& "

& *8 - (O E!  "#>#8&"8 258,936,143  - (O E! & " - ! & / > 28,745,686  27.

28.

&+ /Â&#x20AC; #$#$ / .). 2535 # 116  & "& "/ & (&   5 % &/  "/&%  ""## (9 #*)  >("/ & &(>#*/ > (  10 % &  *  "/ & #q# &(> #("#9 / (! & O E

3"

-(  <,8 % -(  <,8 %"<,8 %(>&  ># 29.

 &$-"& / $ 3"$   x  

+ #:%" #&$- 31 #  2556 2555 & & 1,617,009,051 1,187,306,837 78,671,035 82,370,634 1,695,680,086 1,269,677,471

3"

$  

 &$-"& / $ 3"$   x  

+ #:%" #&$- 31 #  2556 2555 & & 22,813,000 13,400,046 8,790,000 3,000,000 912,517 1,245,545 7,073,291 1,130,802 39,588,808 18,776,393

 / ( *+=& *+=&

,+ H >#

Annual Report 2013

187


30.

3"-  &$-"& / $ 3"$   x  

+ #:%" #&$- 31 #  2556 2555 & & 1,596,470 36,250 1,086,486 328,992 11,024,948 14,743,501 13,707,904 15,108,743

/ %"  -(E  $/

,+ H ># 31.

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& *+( '(EF % &# # )% &"/ & -D#/' 

 '( EF   , EF /&/' (& "*+'( EF  &# 'EF <=+& /&/' (&*(EF /&/' (&  *+"*+ & *8  &$-"& / $ 3"$   x  

+ #:%" #&$- 31 #  2556 2555 & & 158,443,963 156,837,160 1,948,287 2,437,158 160,392,250 159,274,318

E$ "8 E$ &

& >#

Annual Report 2013

188


32.

/&



-( ' # *8! E$ *+( '(#% &## 90 % &$#$ /   #( >#&  , 'E$ *+*+>% &*+( #<=+& /&/' (&! EF % & > 8& *8 -( ' #  #*+$#"#EF 9, 

33.

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,+ H ># 34.

 &$-"& / $ 3"$   x  

+ #:%" #&$- 31 #  2556 2555 & & 5,207,999 4,476,708 26,292,891 21,339,051 24,033,413 19,112,854 14,186,304 12,790,609 37,305,654 35,883,038 5,828,561 5,437,308 6,462,680 9,123,846 25,438,619 24,534,517 144,756,121 132,697,931

&+ $%L$ #,+ > *+ 1 f) 2545   8& & "/ &*8&$*"/ & % &*+"#-! "#$% & &  &  , % & & "( >  =+ & ' ( "# * "( >  =+ &  O           &  :# ;<* / (#$ ) <=+&  ! EF   & #$ & "/ &*8&$* .). 2530 "/"8 " > *+ 31  >-# 2556 ' 2555  (& "#%  & ! / > #D 14.4    ' #D 13.3    #/ 

Annual Report 2013

189


35.

,$3" 

,+  B**+' &

/ ( B*& / > B*# B*& E&B*% & '-($ ( *+ #(9, !  , -($ (&B* B*& #&/ %  : ":

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(9,039) 74,905

(8,047) 67,327

 x  

+ #:%" #&$- 31 #  2556 2555 â&#x20AC;&#x153; # *â&#x20AC;? #/  ,$ #/  ,$ #& (  ) #& (  ) 384,130 20 336,729 23 76,826 77,448

(7,116) 69,710

(9,003) 68,445

$fq*J*+ 555 .). 2555

#-># #>q>( >

q <=+&#*E&-$ 8&'( > *+ 27  >-# 2555 

B*& --  30 !   23 % &/ " "/ >$**++#  , &> *+ 1 #-# 2555 '( #( > *+ 31  >-# 2555 '  !   20 % &/ " "/ >$* *++# , &> *+ 1 #-# 2556 '( #( > *+ 31  >-# 2557

& 8 =& $ B*  20 '  23  -/ >D-($ (B*& --"/"8 " > *+ 31  >-# 2556 ' 2555 #/  B*& *+*+>% & &- % &/  (%  ) : ": ,+   : &  &$-"&/ $  3"$ + #:%" #&$- 31 #  2556 2555 +  +  4 L( + & 4 L(

,$

,$ (*L) (*L) ,$  ,$

,$ "(> +/ >( > #F-(& &



15,815,602 15,815,602

(3,163,051) (3,163,051)

Annual Report 2013

12,652,551 12,652,551

19,970,105 19,970,105

(4,703,800) (4,703,800)

+ &  ,$

15,266,305 15,266,305

190


  : &  x  

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3,795,778 3,795,778

2555

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3,036,623 3,036,623

+ 

,$

24,271,325 24,271,325

4 L(

+ &

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(5,586,008) (5,586,008)

18,685,317 18,685,317

36.  42 # $%&$-"7%*  36.1 D > *+ 31  >-# 2556 ' 2555 #*BEF "$( /  & "/ -"/ & '    & *8

  : &  &$-"& / $ 3"$   x  

E #&$- 31 #  2556 2555 70.2 69.5 56.6 102.4 126.8 171.9

#( 1   >( 1  '( #( 5  ># 36.2

#,+ > *+ 20  >-# 2556 /" - )'(& =+&

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36.3

D > *+ 31  >-# 2556 ' 2555 #*BEF *+ &(-( '  '( & #"*+ /"' >! / > 0.3    '/ > 25.8    #/ 

Annual Report 2013

191


37.

  #  ,&# &$-$- # --'*+*+>% & '(--, (&H *+#*->#*+>% &(&H  (# #*EF 9,  (># ,

#*#(># $*>(&--, *+*+>% & $ -'&,+ %/ ->(&  &,+ %& / -"/'(  &(  *8  +"  - <=+&!  *>*+- F- +>  -*+& <=+&#D#-

-

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-&, *+#*""/---'*+*+>% & D > *+ 31  >-# 2556 ' 2555 #* & *8 #,E  # #(  &$-"& / $ 3"$   x  

E #&$- 31 #  2556 2555 & & Â&#x192;* ,#& -2 --*+*+>% & 4,747,247 275,942 --*+*+>% &  - *+ . *> #  / (#$ ) *+*+>% & 26,622 26,192 ># 4,773,869 302,134 2$% #& # (& --*+*+>% &

--*+*+>% &

&&  & >#*+ (>#  - *+ . *> #  / (#$ ) >#

(># 100,401,965 *+*+>% & 76,395,664 176,797,629

Annual Report 2013

3,163,658

-

556,063 556,063

192


#,E  # #(  &$-"& / $ 3"$   x  

E #&$- 31 #  2556 2555 & &

3" #  - *+ . *> #  / (#$ ) /  $%&$- 2-    &  :# ;<* / (#$ )  & >#*+ (># ># *L  <&"*  N /

*+*+>% &

-

428,000

(># (>#

-

49,864,700 179,478,742 229,343,442

*+*+>% &

Annual Report 2013

48,150

224,700

193


$**+#*""/- >( &  - -' *+ *+ >% & "/  "8 " > *+ 31  >-# 2556 ' 2555 #* & *8 #,E  # #(

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 &$-"& / $  3"$ + #:%" #&$- 31 #  2556 2555 & &

 x  

+ #:%" #&$- 31 #  2556 2555 & &

--*+*+>% & (># *+*+ >% &

4,697,493 70,976,457 75,673,950

2,679,351 45,943,727 56,554 48,679,632

4,697,493 70,976,457 75,673,950

2,679,351 45,943,727 56,554 48,679,632

--*+*+>% &

18,530

148,600

18,530

148,600

 !/# &D% &    &  :# ;<* / (#$ )

(>#

343,334

308,603

343,334

308,603



$  

--*+*+>% &    &  :# ;<* / (#$ )  - *+ . *> #  / (#$ )

--*+*+>% & (># --*+*+>% &

284,917 -

300,000 241,035 400,000

284,917 -

300,000 241,035 400,000

284,917

941,035

284,917

941,035

13,409,000 13,409,000

50,835,950 50,835,950

59,807,000 13,409,000 73,216,000

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># C4 #    &  :# ;<* / (#$ )  & >#*+  (># ># "$% # --*+*+>% &

(># (>#

-

--*+*+>% &

817,232

-

817,232

-

--*+*+>% & *+*+ >% &

162,424 434 162,858

9,528 57,931 67,459

162,424 434 162,858

9,528 57,931 67,459

*L$- # &$-  E(  * **  :   " /

*+*+ >% &

1,210,337

1,125,895

1,210,337

1,125,895

*L- - Â&#x152;,E  <&"*  N /

*+*+ >% &

1,043,250

781,100

1,043,250

781,100

# --*+*+>% & (>#

44,229,385 18,149,880 8,632,312 71,011,577

29,700,241 19,221,401 3,304,171 52,225,813

44,229,385 18,149,880 8,632,312 71,011,577

29,700,241 19,221,401 3,304,171 52,225,813

/&&  --*+*+>% &  - *+ . *> #  / (#$ ) >#

C4 --*+*+>% & --*+*+>% &  & >#*+  (># >#

Annual Report 2013

194


38.

2 "+  K E% #F"(> & /  & ##L & && J*+ 8 ,+ & "(> & /  & #DG*+"  '(EF #*

/  " "F&"

  /  & % &,+ $   " "(> & '# EM& % & "(> & &(>  /   3 "(> & -, "(> &  <,8 %'"<,8 %(>&  "(> & > $  "(> & - '"<,8 %(>&  ' /   "(> & &BF#)" ) % #F"(> & /  & % & "/"8 " > *+ 31  >-# 2556 ' 2555 #* &(  *8  : #&  &$-"&/ $  3"$ + #:%" #&$- 31 #     #& # ( D%#& # (  #GGD%  #GGD%    L    -_  2556 2555 2556 2555 2556 2555 2556 2555

 2556

2555

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1,695,680 9,779 / & & '"   1,267 "(> '(&/ & & #>*"(> "*

*8'& O E

*8&  F #, ,+ <,8  56,605  ,+ ># 1,763,331 -(# *#'

1,269,677 8,529 29,810 9,659 74,111 1,361,976 29,810

10,247 10,247

-($ ( / ( B*& B*& / ""/

Annual Report 2013

84,607 249 84,856

92,051 17,275 109,326

86,424 90,710 13,708 190,842

1,695,680 1,269,677 39,589 18,776 85,874 101,710 50,794 86,424 50,794 67,827 90,959 85,102 56,605 74,111 15,109 13,708 15,109 133,730 2,068,839 1,615,279 (1,649,121) (1,287,564) 419,718 327,715 (74,905) (67,326) 344,813 260,389

195


 : #&  x  

+ #:%" #&$- 31 #     #& # ( D%#& # (  #GGD%  #GGD%    L    -_  2556 2555 2556 2555 2556 2555 2556 2555

 2556

2555

 -(   -(# *#' / & & '"  

*8'& O E

*8&  F #, ,+ <,8   ,+ >#

1,695,680 1,269,677 9,779 8,529 29,810 1,267 9,659 56,605 74,111 1,763,331 1,361,976 29,810

10,247 10,247

84,607 249 84,856

92,051 17,275 109,326

141,546 13,708 155,254

-($ ( / ( B*& B*& / ""/

1,695,680 1,269,677 39,589 18,776 85,874 101,710 127,634 141,795 144,909 56,605 74,111 15,109 13,708 15,109 142,743 2,033,251 1,624,292 (1,649,121) (1,287,564) 384,130 336,728 (69,710) (68,445) 314,420 268,283

" /' #"(> /  &  : &

& # (/  "+ D > *+ 31  >-# 2556 D > *+ 31  >-# 2555

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2,142,902,339 3,186,035,239

  L

2,366,083 2,520,653

  #& # ( #GGD%  

205,514,398 71,736,273

Annual Report 2013

  "+

2,350,782,820 3,260,292,165

& # (&$33"C 



2,397,322,532 4,748,105,352 2,204,125,265 5,464,417,430

196


39.

    $- 39.1 ->#"*+&   " $,+

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   +"#GG +"#/ * #/ "$% #7%   1 - 5 :   2$% 3$

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& Q "9 & F *8"/ $* F *8" & & " & &  (>#" $%&    *8"/ $*   *8  *8" "    *8" #"$(&

955.7 597.7 -

-

569.3 76.4 -

0.3

-

-

-

3.1

-

-

-

Annual Report 2013

117.4 1,073.1 0.13 - 2.35 569.3 1.90 - 2.40 442.9 442.9 933.3 1,531.0 5.75 - 18.00 161.0 237.4 7.00 340.2 340.2 -

25.1 25.1 1,129.7 1,129.7 0.1 0.1 3.4

-

7.33

197


  : &  &$-"&/ $  3"$ E #&$- 31 #  2555 " -& &

   +"#GG +"#/ * #/ "$% #7%   1 - 5 :   2$% 3$

 #/ "$% (  )  /#/ /" 1 : 5 : "E  "$% #/ /# #/ &$& # (&  & " '*(& "

& Q "9 & F *8"/ $* F *8" & & " & &  (>#"

1,296.1 1,271.6 -

106.4 -

-

-

-

147.1 1,443.2 0.13 - 2.50 106.4 1.95 - 2.80 252.5 252.5 1,484.1 2,755.7 5.75 - 18.00 38.0 38.0 314.2 314.2 -

$%&    *8"/ $*   *8  *8" "   " *8*+

'& F ,# ,+  *8" #"$(&

-

338.9 0.3

3.4

-

-

186.5 186.5 1,624.1 1,624.1 0.5 0.5 338.9 1.7 5.4

-

4.85 - 5.50 7.33

  : &  x  

E #&$- 31 #  2556 " -& &

   +"#GG +"#/ * #/ "$% #7%   1 - 5 :   2$% 3$

 #/ "$% (  )  /#/ /" 1 : 5 : "E  "$% #/ /# #/ &$& # (&  & " '*(& "

& Q "9 & F *8"/ $* F *8" & & " & &  (>#" $%&    *8"/ $*   *8  *8" "    *8" #"$(&

955.7 597.7 -

-

569.3 76.4 -

0.3

-

-

-

3.1

-

-

Annual Report 2013

117.4 1,073.1 0.13 - 2.35 569.3 1.90 - 2.40 442.9 442.9 933.3 1,531.0 5.75 - 18.00 161.0 237.4 7.00 327.0 327.0 -

25.1 25.1 1,129.7 1,129.7 0.1 0.1 3.4

-

7.33

198


  : &  x  

E #&$- 31 #  2555 " -& &

   +"#GG +"#/ * #/ "$% #7%   1 - 5 :   2$% 3$  #/ "$% (  )  /#/ /" 1 : 5 : "E  "$% #/ /# #/ &$& # (&  & " '*(& "

& Q "9 & F *8"/ $* F *8" & & " & &  (>#"

1,296.1 1,271.6 -

106.4 -

-

-

-

147.1 1,443.2 0.13 - 2.50 106.4 1.95 - 2.80 252.5 252.5 1,484.1 2,755.7 5.75 - 18.00 38.0 38.0 327.0 327.0 -

$%&    *8"/ $*   *8  *8" "   " *8*+

'& F ,# ,+  *8" #"$(&

-

338.9 0.3

3.4

-

-

186.5 186.5 1,624.1 1,624.1 0.5 0.5 338.9 1.7 5.4

-

4.85 - 5.50 7.33

E ' J*+% &" && J*+'  & J*+% & *8 " && J*+% & "/  -,+ &#, && $  *+#*

*8'" & >  &(  *8   : &  &$-"&/ $ 3"$ E #&$- 31 #  2556 "# x$- "$% #/ #/ 4/&# x$-//&  # x$- (  ) & # (&  & " '*(& "

& Q "9 & F *8" & & " & &  (>#" $%&  " *8*+

'& F ,# ,+  *8" #"$(&

1,372.5 359.9 782.6 77.7 343.1

46.2 7.9 56.6 5.4 50.8

3.4 2.2 7.2 8.8 14.8

301.9 4.1

12.8 0.2

5.1 4.6

Annual Report 2013

199


  : &  &$-"&/ $ 3"$ E #&$- 31 #  2555 "# x$- "$% #/ #/ 4/&# x$-//&  # x$- (  ) & # (&  & " '*(& "

& Q "9 & F *8" & &  (>#" $%&  " *8*+

'& F ,# ,+  *8" #"$(&

982.4 106.1 1,099.9 301.6

36.5 2.5 74.1 59.8

3.7 2.4 6.7 19.8

299.8 5.3

11.6 0.3

5.2 5.1   : &

 x  

E #&$- 31 #  2556 "# x$- "$% #/ #/ 4/&# x$-//&  # x$- (  ) & # (&  & " '*(& "

& Q "9 & F *8" & & " & &  (>#" $% &  " *8*+

'& F ,# ,+  *8" #"$(&

1,372.5 359.9 782.6 77.7 327.0

46.2 7.9 56.6 5.4 50.8

3.4 2.2 7.2 8.8 15.5

301.9 4.1

12.8 0.2

5.1 4.6

Annual Report 2013

200


  : &  x  

E #&$- 31 #  2555 "# x$- "$% #/ #/ 4/&# x$-//&  # x$- (  ) & # (&  & " '*(& "

& Q "9 & F *8" & &  (>#" $%&  " *8*+

'& F ,# ,+  *8" #"$(&

982.4 106.1 1,099.9 327.0

36.5 2.5 74.1 59.8

3.7 2.4 6.7 18.3

299.8 5.3

11.6 0.3

5.2 5.1

39.3 ->#"*+&  "B-( & ->#"*+&  "B-( & -, ->#"*+&*+  ->#"* ,+ & #("#9*+ " ! & " '/, #("#9 &  *& #-># &' ( >*+ & / $/BEF #,+ -/

 *8#)-D#/ '  *+ . 18/2549 ,+ & â&#x20AC;&#x153; /&&  & "B-( &"â&#x20AC;? /   /&&  & "B-( &"#,+ "8 > / H #( >( 15.0    ' #( >(  7 % & *8" +>     "<,8 %(>& B>' <,8 %"<,8 %(>& #q#>(

>"<,8 %(>&   & /&&  & "B-( &"#,+ "8 > / H #( >( 25.0   ' #( >(  7 % & *8" +> '" *+ &>&!  > '(! D**+    "<,8 %(>& B &(> ' #* &", ' &->#"&- &( >( "/ & -D#/  ' ' >   /&&  & "B-( &"#,+ "8 > / H #*+/  >-*+ " &'

Annual Report 2013

201


 *8 #% &-"#$% &"/ $* () ) / (â&#x20AC;&#x153;"/ $*â&#x20AC;?) #> 300 â&#x20AC;&#x153;"#$â&#x20AC;? ,+ & â&#x20AC;&#x153;-D"# % &"#$"#â&#x20AC;? /  "#$"# &#*"(> % & % & #( >( 150.0    '/, #*L && # DG*+ (>& <=+&#* *+/ F' % & -- &(>/ #q# D > *+ 31  >-# 2556 ' 2555  / &&  & "B-( &" / > #D 2,970.3   ' #D 2,191.0    #/  - !   242.1 '  106.2 % & *8" +> '" *+ &>& !  #/  > *+*+-/ % &-,+ &#, && > *+ &'" &L & D > *+ 31  >-# 2556 ' 2555 #* & *8   : &  &$-"&/ $ 3"$ E #&$- 31 #  2556 " -& & - * 1 - 5 :  5 : 3$ 2$%

 &  1 : +" "E  & # (&  & " '*(& "

& Q "9 & F *8"/ $* F *8" & & " & &  (>#" $%&    *8"/ $*   *8  *8" "    *8" #"$(&

500.0 597.7 -

-

Annual Report 2013

400.0 442.9 888.6 77.5 159.9 -

25.1 1,129.7 0.1 0.3

3.1

-

673.1 69.3 44.7 340.2

-

1,073.1 569.3 442.9 1,531.0 237.4 340.2

-

-

-

25.1 1,129.7 0.1 3.4

202


  : &  &$-"&/ $ 3"$ E #&$- 31 #  2555 " -& & - * 1 - 5 :  5 : 3$ 2$%

 &  1 : +" "E  & # (&  & " '*(& "

& Q "9 & F *8"/ $* F *8" & & " & &  (>#" $%&    *8"/ $*   *8  *8" "   " *8*+

'& F ,# ,+  *8" #"$(&

252.5 1,271.6 1,417.9 15.0 -

-

186.5 1,624.1 0.5 338.9 2.0

23.0 -

-

1,443.2 106.4 66.2 314.2

-

1,443.2 106.4 252.5 2,755.7 38.0 314.2

3.4

-

-

-

186.5 1,624.1 0.5 338.9 5.4

  : &  x  

E #&$- 31 #  2556 " -& & - * 1 - 5 :  5 : 3$ 2$%

 &  1 : +" "E  & # (&  & " '*(& "

& Q "9 & F *8"/ $* F *8" & & " & &  (>#" $%&    *8"/ $*   *8  *8" "    *8" #"$(&

500.0 597.7 -

400.0 442.9 888.6 77.5 -

-

25.1 1,129.7 0.1 0.3

Annual Report 2013

159.9 -

3.1

-

673.1 69.3 44.7 327.0

-

1,073.1 569.3 442.9 1,531.0 237.4 327.0

-

-

-

25.1 1,129.7 0.1 3.4

203


  : &  x  

E #&$- 31 #  2555 " -& & - * 1 - 5 :  5 : 3$ 2$%

 &  1 : +" "E  & # (&  & " '*(& "

& Q "9 & F *8"/ $* F *8" & & " & &  (>#" $%&    *8"/ $*   *8  *8" "   " *8*+

'& F ,# ,+  *8" #"$(&

252.5 1,271.6 1,417.9 15.0 -

-

186.5 1,624.1 0.5 338.9 2.0

23.0 -

-

1,443.2 106.4 66.2 327.0

-

1,443.2 106.4 252.5 2,755.7 38.0 327.0

3.4

-

-

-

186.5 1,624.1 0.5 338.9 5.4

39.4 ->#"*+&  "B>

#*->#"*+&  "B> *+ ->#E E> % &-'-% &"  <=+&  #*E/ #F-(& & % & & (&#* "/- (& :#  #* ->#"*+&  "B>   F(  *+ #  /  ->#"*+& / >$*8> '  ->#"*+& *+#"#

 /  #* (>&   #'->-#->#"*+& ! #*+ % & /

39.5 ->#"*+&  '*+ D > *+ 31  >-# 2556 ' 2555  #(#*-,+ &#, && *+! & (&)*+#*""/-

Annual Report 2013

204


39.6 #F-(# #F-(# #D% &" && ' *8" && "(> (9, #/ > *+'" & &'" &L  &  ,+ &" && ' *8" && &(>! " ' *8" "8 '#F-( #( *+ '& #*+ '&% & 

*8 > #F-(# #D% && & <=+&& & ,+

- '& & E,+ % #F-(#9, #-" <,8 &" D "8 > /"  % &% &   ' (& )  "/ (>&   & K '& & +> <=+& #($( * #F-(##D #F-(" "'"/" *8*+9,  -/ #F-(##D >*"( >  '"& "

 D 

*8O '>*+9,  -/ '#F-(#% &"/-'" &"

 -/ >D-" %&" D "8 > /"  % &% & '(&)  40.  #/*  && "/"8 " > *+ 31  >-# 2556  #

&& #EF #* / & #% & #,+

> *+ 20 #B  2557

Annual Report 2013

205


&! "/ & "% % & D > *+ 31  >-# 2556 #* &(  *8  &$-/#%  & 6   Ef "/ & "%   > %*+ 1693 -<: <( "%  > $8 11 9  '%>& > %  & 10900 ) 0-2937-1292-8 " 0-2937-1292 "/ & "% &'%*+ 275 -

#  "%&'- $8 6 9 $# '%>&&'- ,

%&'- & 10160 ) 0-2454-9088-94 " 0-2454-9095 "/ & "% &#>&)> %*+ 30/39 - 50 -

#  "%&#>&)> $8 12 9 &#>&)> /&% /B #, & &> * 11000 ) 0-2550-0522-8 " 0-2550-0529 %*+ 1293 --;F "%"/& $8 2 #F( 4 9 "%#> / "/ & "% "/& 1

/B #, & &> "# 10270 "/ & "% "/& 2 ) 0-2380-0333 " 0-2757-7100 ) 0-2380-1161-2 " 0-2380-1168 "/ & "% KÂ&#x2122;   1 %*+ 7/129-221  &%*+ 2604A -"/ & )F - <: <( KÂ&#x2122;   $8 6 9 #$$ * '%>& D #  %&   & 10700 ) 0-2884-7054-9 " 0-2884-7053 "/ & "%KÂ&#x2122;   2 %*+ 7/3 -)F - <: (<( KÂ&#x2122;   $8 11 >>  *  &%*+ 41101 (K /"% 1 q-# 2556) 41108 9 #$$ * '%>& D #  %&   & ) 0-2884-5301-9 " 0-2884-8957 "/ & "%"*# 1 %*+ 191 -"*#- #:< $8 19  & C 9 "*# '%>&"*# %& & 10500 ) 0-2231-8600 " 0-2231-8695 "/ & "%"*# 2 %*+ 191 -"*#- #:< $8 14  & A 9 "*# '%>&"*# %& & 10500 ) 0-2231-8700 " 0-2231-8791 "/ & "%"*# 3 %*+ 191 -"*#- #:< $8 12  & D 9 "*# '%>&"*# %& & 10500 ) 0-2231-8900 " 0-2231-8997 "/ & "%"## %*+ 159 -"## $8 11 <  ) 9 "%#> '%>&- & ,

(K /"%> *+ 23 f) 2555) %>I  & 10110 ) 0-2627-2400 " 0-2627-2427 "/ & "%<: >  %*+ 999/9 -"/ & 

;;K))" '  <: >   &%*+  :# $ 2807 $8 28 9 # 1 '%>&#> %#> & 10330 ) 0-2613-1199 " 0-264-5421 Annual Report 2013

206


 "/ & "% 

&$-/#% %*+ 540 -# ->*+ $8 14 9   '%>&# * %#> & 10330 ) 0-2264-8555 " 0-2658-5919

"/ & "% ( #"%  <()

%*+ 408/59 -   "< <(  &%*+ 412/44-45 $8 3 9. '%>&"#"  %  #. 10400 ) 0-2619-0600-2 " 0-2619-0599 %*+ 101/549 #.$ &> & 9.&>   ."   .&> & &> * 11100 ) 0-2571-1199 " 0-2571-3119 %*+1093/73 -<: <*8 >>  $8 14 9 & - '%>&&  %&  #. 10260 ) 0-2745-6813-16 " 0-2745-6718 %*+ 99, 99/9 #F(*+ 2  &%*+ 1201 $8 12 9 ' &>I  /&

/B : &> * ) 0-2193-8170-74 " 0-2193-8176

--> $  *-:< %*+ 57  &%*+ 1607*-1608 $ 8 16 9 > '%>&# * %#> & 10330 ) 02-263-8500 " 02-263-8555-6

- :# >>  %*+ 195  &%*+ 1406 $8 14 >>  3 9." '%>& > %" & 10120 ) 02-627-7888 " 02-627-7899

-# FE 1 %*+ 2884 $8 6 9 $* #( '%>&&K % >%>& & 10310 ) 0-2716-5700 ". 0-2716-5713

"/ & "%&> &

"/ & "%& 

"/ & "%' &>I 

"/ & "%-> $ 

"/ & "% :#  >> 

"/ & "%$* #( (K /> *+ 18 f) 2556)



"/ & "% $*&#( 1 "/ & "% $*&#( 2 "/ & "% : 

1 $*&#( "/ & "% : 

2 $*&#( "/ & "%$*&#( 3

"/ & "%$*&#( 4

"/ & "% $*& 1

%*+ 50/147-157 -Â?  < <( '  -   $8 4 9  >' > /$ &E,  /B #, & &> $*&#( 50300 ) 0-5322-4766-9 " 0-5322-4775 ) 0-5340-5242-6 " 0-5340-4390 ) 0-5322-3377-9 " 0-5322-3378 ) 0-5322-3663-4 " 0-5322-3378 %*+ 2/9-10 - -&--  # *# $8 *+ 1 9 $f /$ &E, 

/B #, &$*&#( &> $*&#( 50300 ) 0-5321-2350 " 0-5321-2349 %*+ 224/1 $8 *+ 1 ' 2 #F( 2 /'#(* /B #, & &> $*&#( ) 0-5380-6044 " 0-5311-1262 %*+ 591/5-7 9  />*& /B #, & &> $*& 57000 ) 0-5360-0828-30 " 0-5360-0833 Annual Report 2013

207


 "/ & "% $*& 2 "/ & "% /& "/ & "% -">- "/ & "% D

"/ & "%  "/ & "% /F

&$-/#% ) 0-5374-0480-3 " 0-5374-0484 %*+ 500/1 - 3 9 " #* /"Â&#x2DC; /B #, & &> /& 52100 ) 0-5423-1740-8 " 0-5423-1749 %*+ 919/112 #F(*+ 10 . -">- .#, & -">- &> -">- 60000 ) 0-5622-7241-3 " 0-5622-9899 %*+ 228/28 - 30 9 #  9 / #, & /B #, & &> D 65000 ) 0-5523-1981-7 " 0-5523-1980 %*+ 3/5 9 $>. />*& /B #, & &>  56000 ) 0-5441-0930-1 " 0-5441-0905 %*+ 12/5 9 #  / #, & /B #, & &> /F 51000 ) 0-5351-0500 "0-5356-1511

*/ "/ & "%  )  (

"/ & "% -)*#$ 1 "/ & "% -)*#$ 2 "/ & "% -)*#$ 3 "/ & "% & "/ & "% #, & BF: "/ & "% "&% "/ & "% $# "/ & "%* " <(  (

%*+ 200 )F -   )  ( <( $8 4 9  ) 3 /B  ( &> "&% 90110 ) 0-7435-4699-705 " 0-7423-0176 %*+ 62, 64, 66, 68 < > *Â&#x161; 9 I -F%>& / #, & /B #, & &> -)*#$ 80000 ) 0-7543-2021-9 " 0-7543-2031 ) 0-7543-2360-4 " 0-75322-605 ) 0-7543-2504-11 " 0-7543-2504 %*+ 59/5 - 7 9  >

/*+& /B #, & &> & 92000 ) 0-7521-6000-3 " 0-7521-6007 %*+ 154/14 - 16 9 && / ( /B #, & &> BF: 83000 ) 0-7623-2482-90 " 0-7623-2491 %*+ 467 9 * /( & /B #, & &> "&% 90000 ) 0-7443-7500 " 0-7443-6666 %*+ 1/9 9 >*" -  /(B /B #, & &> $# 86000 ) 0-7751-2114-6 " 0-7751-2122 * " Â? / %*+ 29 -* "(<( $8 6  & 607 9 $O /B  ( &> "&% 90110 ) 0-7435-2905-6 " 0-7435-2909-10

/ #x$ "/ & "% "  "/ & "% )*"

%*+ 7/8 9 )L / #, & /B #, & &> "  32000 ) 0-4453-5033-35 " 0-4453-5045 %*+ 1036/1 - 4 9 > F", /#, & /B #, & &> )*" 33000 ) 0-4562-0860-66 " 0-4562-0867 Annual Report 2013

208


 "/ & "%   *

"/ & "% % '( "/ & "% -$"*# "/ & "% 

#  -$"*#

"/ & "%" *>>  $ *

"/ & "% *#

&$-/#% %*+ 232/6 -  ; - $8 2 9   q* /#'% & /B #, & &>

  * 41000 ) 0-4223-0555 " 0-4223-0515 %*+ 238/8 -& < >  &%*+ I7-I9 $8 2 9  / #, &

/B #, & &> % '( 40000 ) 0-4333-4755 " 0-4323-8322 %*+ 166/1 - 2 9  # / #, & /B #, & &> -$"*# 30000 ) 0-4426-9802-11 " 0-4424-8990 %*+ 1242/2 "/ & 

#  -$"*# $8 *+ 6  &  3 9 #B / #, & /B #, & &> -$"*# ) 0-4428-8057-66 " 0-4428-8065 %*+ 512/8 -" *>>   & %*+ 4C-1 $8 4 9 $&F / #, &

/B #, & &>

$ * 34000 ) 0-4535-5125 " 0-4531-6232 %*+ 8/47 - 48 9  #, & / #, & /B #, & &> *# 31000 ) 0-4462-5606-7 " 0-4460-1953

 "/ & "% $* "/ & "% -L# "/ & "%  * "/ & "% "* "/ & "%   R& $*

%*+ 399 #F( 1 9 $# / (" # /B #, & &> $* 76000 ) 0-3240-0941 " 0-3241-1744 %*+ 99 9 " /L# * /B #, & -L# &> -L# 73000 ) 0-3427-2800-6 " 0-3427-2807 %*+ 321 9 '"&$F /   , /B #, & &>  * 71000 ) 0-3462-4908-09 " 0-3462-5099 %*+ 591/19 9  /*> /B #, & &> "* 18000 ) 0-3631-8481-7 " 0-3631-8488 %*+ 99/49-50 9 & /  R& /B   R& &> $* 70110 ) 0-3230-1201-3 " 0-3230-1209

/ # "/ & "%  &

"/ & "% 

"/ & "%J$&

%*+ 115 -"<( $8 1 < )F - " 5 9 "%#> /$& 

/B #, & &>  & 21000 ) 0-3886-1153-8 " 0-3886-1160 %*+ 3/222 #F( 6 9 J#* / , /B &#& &> $* 20150 ) 0-3837-1430-31 " 0-3837-1434 $8 2  - CIMB  16 9 )*" #( / #, & /B #, & &> J$& 24000 ) 0-3881-0671-3 " 0-3881-0690 Annual Report 2013

209


 "/ & "% 9 $$ $*

&$-/#% %*+ 838/1-838/1% 9 $$  /&"  /B #, & &> $* 20000 ) 0-3879-2556-7 " 0-3879-2569

Annual Report 2013

210

CGS : Annual Report 2013  

Annual Report 2013

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