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PHILOSOPHY ¥â«¬ª√—™≠“¢ÕßÕߧå°√∑’Ë∑”„Àâ‡√“°â“«¡“∂÷ß®ÿ¥π’È

HONESTY  —®®–‡ªìπÀ≈—°

UNITY  “¡—§§’‡ªìπ‡≈‘»

HEALTH  ÿ¢¿“欑Ëß„À≠à


2 ::: √“¬ß“πª√–®”ªï

2547

®ÿ¥‡¥àπ„π√Õ∫ªï 2547 / 2004 Financial Highlights Financial Statement (Thousand Baht)

¢âÕ¡Ÿ≈∑“ß°“√‡ß‘π (æ—π∫“∑)  ‘π∑√—æ¬å√«¡ Àπ’È ‘π√«¡  à«π¢ÕߺŸâ∂◊ÕÀÿâπ √“¬‰¥â®“°°“√¢“¬§à“‡™à“·≈–∫√‘°“√ √“¬‰¥â√«¡ °”‰√¢—Èπµâπ °”‰√ (¢“¥∑ÿπ)  ÿ∑∏‘

Total Assets Total Liabilities Shareholders' Equity Net sales Total Revenues Gross Profit Net Profit (Loss)

Õ—µ√“ à«π∑“ß°“√‡ß‘π Õ—µ√“ à«π°”‰√ ÿ∑∏‘ (%) Õ—µ√“º≈µÕ∫·∑πµàÕ à«πºŸâ∂◊ÕÀÿâπ (%) Õ—µ√“º≈µÕ∫·∑πµàÕ ‘π∑√—æ¬å√«¡ (%) °”‰√ ÿ∑∏‘µàÕÀÿâπ (∫“∑) ‡ß‘πªíπº≈µàÕÀÿâπ (∫“∑) Õ—µ√“ à«πÀπ’È ‘πµàÕ à«πºŸâ∂◊ÕÀÿâπ (‡∑à“) §«“¡ “¡“√∂„π°“√™”√–¥Õ°‡∫’Ȭ (‡∑à“) ¡Ÿ≈§à“µ“¡∫—≠™’µàÕÀÿâπ (∫“∑)

Financial Ratio Net Profit (Loss) (%) Return on Equity (%) Return on Assets (%) Earning per Share (Baht) Dividend per Share (Baht) Debt to Equity Ratio (Time) Time interest Earned Ratio (Time) Book Value per Share (Baht)

2547

2546

2545

2004 1,645,752 875,528 770,224 516,967 555,313 155,429 40,798

2003 1,414,886 667,368 747,518 915,999 940,682 123,037 70,013

2002 911,804 258,550 653,254 152,160 188,549 56,606 51,287

7.35 5.30 2.48 0.34 1.14 6.13 6.02

7.44 9.37 4.95 0.58 0.20 0.89 6.56 5.88

27.20 7.85 5.62 0.38 0.15 0.40 14.56 5.44

¢âÕ¡Ÿ≈∑“ß°“√‡ß‘π (æ—π∫“∑) : Statement (Thousand Baht) 1,414,886 1,645,752

1,800,000

940,682 555,313 √“¬‰¥â√«¡ Revenues

°”‰√¢—Èπµâπ °”‰√ (¢“¥∑ÿπ) Gross Profit  ÿ∑∏‘ Net Profit (Loss)

51,287 70,013 40,798

56,606 123,037 155,429

200,000

188,549

400,000

516,967

258,550

600,000

915,999

800,000

667,368 875,528

1,000,000

911,804

1,200,000

152,160

1,400,000

2544 / 2001 2545 / 2002 2546 / 2003

653,254 747,518 770,224

1,600,000

0  ‘π∑√—æ¬å√«¡ Total Assets

Àπ’È ‘π√«¡ Liabilities

 à«π¢ÕߺŸâ∂◊ÕÀÿâπ √“¬‰¥â®“°°“√ Shareholdersû ¢“¬ Equity Net Sale


ANNUAL REPORT

2004 ::: 3


4 ::: √“¬ß“πª√–®”ªï

2547

 “ åπ®“°ª√–∏“π°√√¡°“√

‡»√…∞°‘®¢Õߪ√–‡∑»‰∑¬ „πªï 2547 ∑’ºË “à π¡“π’È ‰¥â√∫— º≈°√–∑∫µà“ß Ê ‡ªìπÕ—π¡“° ∑—ßÈ ®“°ªí≠À“πÈ”¡—π‡™◊ÕÈ ‡æ≈‘ß ªí≠À“ °“√·µ°·¬°„π∑“ߧ«“¡§‘¥Õ—π𔉪 Ÿ§à «“¡‡¥◊Õ¥√âÕπ∑’ÕË “®®–∫“πª≈“¬°≈“¬‡ªìπ‡√◊ÕË ß„À≠à√«¡∑—ßÈ ¡À—πµ¿—¬æ‘∫µ— Õ‘ ¬à“ß∑’‰Ë ¡à‡§¬‡°‘¥ ¢÷Èπ¡“°àÕπ ®÷ß®”‡ªìπÕ¬à“߬‘Ëß∑’Ë∑—Èß¿“§√—∞ ·≈–¿“§‡Õ°™π®–µâÕߥ”‡π‘π°“√„π à«π¢Õßµπ‡ÕßÕ¬à“ß„®‡¬Áπ „™â§«“¡≈–‡Õ’¬¥  ÿ¢ÿ¡ √Õ∫§Õ∫ ‡æ‘¡Ë ¡“°¢÷πÈ ‡æ◊ÕË ª√–§Õß°‘®°“√„Àâ “¡“√∂¥”‡π‘π‰ª‰¥â¥«â ¬¥’∑“à ¡°≈“ßÕÿª √√§ ·≈–ªí≠À“π“π“∑’µË Õâ ߇º™‘≠Õ¬Ÿà  ”À√—∫ ∫√‘…—∑ ™“≠Õ‘  √– ¥’‡«≈ÁÕª‡¡π∑å®”°—¥ (¡À“™π) °Á‡™àπ°—𠂧√ß°“√µà“ß Ê ¡’°“√‡§≈◊ËÕπ‰À«‰ª„π·π«∑“ß∑’Ëπà“æÕ„® ¥—߇™à𠂧√ß°“√∫â“πÕ‘  √– æ√–√“¡ 9 µ—ßÈ Õ¬Ÿ∑à ´’Ë Õ¬√“¡§”·Àß 24 À—«À¡“° ‡¢µ∫“ß°–ªî ‡ªìπ∫â“π‡¥’¬Ë «æ—°Õ“»—¬¡’√–¥—∫ ®”π«π 54 À≈—ß ∫π‡π◊ÈÕ∑’Ë 27 ‰√à πÕ°®“°∑”‡≈∑’˵—Èß´÷ËßÕ¬Ÿà„®°≈“߇¡◊Õß·≈â« ¬—ß¡’·∫∫∫â“π∑’Ë∑—π ¡—¬ «¬ß“¡ ‚¥¥‡¥àπ¥â«¬æ◊Èπ∑’„Ë ™â Õ¬∑’Ë ≈ßµ—«§√∫§√—π ÕÕ°·∫∫‚¥¬ ∂“ªπ‘°™—Èππ”¢Õߪ√–‡∑» ®÷߉¡àπà“·ª≈°„® ∑’Ë≈Ÿ°§â“∑’‰Ë ¥â¡“ —¡º— ∫√√¬“°“»Õ—π√à¡√◊Ëπ¢Õß‚§√ß°“√ ‰¥âµ°≈ß„®´◊ÈÕ·≈–∑¬Õ¬‡¢â“Õ¬Ÿà„π‚§√ß°“√·≈â« ß“π°àÕ √â“ß 28 À≈—ß·√° ·≈⫇ √Á®‰ª°«à“ 90% ·≈–§“¥«à“°“√°àÕ √â“ß à«π∑’Ë ‡À≈◊Õ∑—ÈßÀ¡¥®–‡ √Á® ‘Èπ¿“¬„πªï 2548 π’È  à«π‚§√ß°“√»√’æ—π«“ ∑’Ë®—ßÀ«—¥¿Ÿ‡°Áµ π—Èπ‡ªìπ‚§√ß°“√«‘≈≈à“µ“°Õ“°“»À√Ÿ µ—ÈßÕ¬Ÿà∫π —π‡¢“¢Õß·À≈¡æ—π«“ Àà“ß®“° µ—«‡¡◊Õß¿Ÿ‡°Áµ‰ª‡æ’¬ß 8 °.¡.  ∂“ªπ‘°™—πÈ ·π«Àπâ“∑’ÕË Õ°·∫∫«‘≈≈à“ ‡πâπ°“√ÕÕ°·∫∫‡©æ“–·ª≈ß ‡æ◊ÕË „Àâ∫“â π·µà≈–À≈—߇ªî¥ÕÕ°√—∫ «‘«∑–‡≈Õ—ππà“µ◊πË µ“ ∑à“¡°≈“ßµâπ‰¡âπÕâ ¬„À≠à∑’ˉ¥â√∫— °“√¥Ÿ·≈√—°…“‰«âÕ¬à“ߥ’‡À≈à“π’È ≈â«π·µà∑”„Àâ ‚§√ß°“√»√’æπ— «“ ¡’§«“¡æ‘‡»… ·≈–‚¥¥‡¥àπ®“°‚§√ß°“√Õ◊Ëπ Ê „π√–¥—∫‡¥’¬«°—π ∑’Ë®—ßÀ«—¥¿Ÿ‡°Áµ „πªï∑’˺à“π¡“ »√’æ—π«“ π—∫‡ªìπ‚§√ß°“√∑’˪√– ∫§«“¡ ”‡√Á® ¥â“π°“√µ≈“¥‡ªìπÕ¬à“ß¡“° ‚¥¬ “¡“√∂¢“¬«‘≈≈à“‰ª·≈â« 8 À≈—ß „π®”π«π 9 À≈—ߢÕ߇ø ·√° Õ’°‚§√ß°“√Àπ÷Ëß∑’˧«√°≈à“«∂÷ߧ◊Õ‚§√ß°“√∫â“π‡æ≈‘π∑–‡≈ ∑’Ë™“¬À“¥™–Õ” Õ.À—«À‘π ®.‡æ™√∫ÿ√’ ‡ªìπ§Õπ‚¥¡‘‡π’¬¡ Ÿß 4 ™—Èπ ®”π«π 7 Õ“§“√ µ‘¥™“¬∑–‡≈¡’ √–«à“¬πÈ”¢π“¥„À≠à≈âÕ¡√Õ∫¥â“πÀπâ“¢ÕßÀâÕßæ—° „π®”π«πÀâÕßæ—°∑—ÈßÀ¡¥ 114 ¬Ÿπ‘µπ—È𠉥â√—∫°“√µâÕπ√—∫∑’Ë¥’®“°≈Ÿ°§â“„À¡à·≈–≈Ÿ°§â“‡°à“ ∑”„À⇡◊ËÕ‡ªî¥µâπªï∑’˺à“π¡“¡’¬Õ¥¢“¬‰ª·≈â«°«à“ 90%  ”À√—∫‚§√ß°“√æ—≤π“∑’Ë¥‘π IRD (International Resource Development) ∫π‡π◊ÈÕ∑’Ë°«à“ 1,000 ‰√à ∫π∂ππÕàÕππÿ™‡∑æ√“™ ∑“ß∑‘»µ–«—πÕÕ°¢Õß π“¡∫‘ππ“π“™“µ‘ ÿ«√√≥¿Ÿ¡‘ ¡’°“√æ—≤π“∑’Ë¥‘π∑’ˉ¥â¢“¬‰ª·≈â« ®”π«π 354 ‰√à ‡ªìπ π“¡‚ª‚≈  π“¡°Õ≈åø ∑’ÕË ¬ŸÕà “»—¬∑’¡Ë √’ –¥—∫ ‡ªìπ°“√‡æ‘¡Ë ¡Ÿ≈§à“„Àâ·°à∑¥’Ë π‘ ∑’‡Ë À≈◊Õ‡ªìπÕ¬à“ß¡“° º—ß√«¡∑’‡Ë À≈◊Õ°”≈—ßÕ¬Ÿà„π√–À«à“ß°“√ÕÕ°·∫∫ ´÷Ëß®–‰¥âπ”¡“„™â‡ªìπ·π«∑“ß„π°“√æ—≤π“∑’Ë¥‘π„π‡ø µàÕ Ê ‰ª


„π à«πÕ“§“√ ”π—°ß“π„Àâ‡™à“°≈à“«§◊ÕÕ“§“√™“≠Õ‘  √–∑“«‡«Õ√å 2 µ—ÈßÕ¬Ÿà∫π∂ππ‡æ™√∫ÿ√’-µ—¥„À¡à ≈Ÿ°§â“∑’ËÕ“®°≈à“«∂÷ß Õ“∑‘‡™àπ ∫√‘…—∑´’‡¡π å ®”°—¥ ∫√‘…—∑‡¥Õ–·«≈Ÿ ´’ ‡µ¡ å ∫√‘…—∑π§√À≈«ß·ø§‡µÕ√’Ë ∫√‘…—∑∫Ÿ∑ å√’‡∑≈ ®”°—¥ ∫√√…—∑ª√–°—π ‘π‡™◊ËÕ Õÿµ “À°√√¡¢π“¥¬àÕ¡ °≈ÿ¡à ∫√‘…∑— ¬Ÿ√‡’ ∑π-æ≈“ µ‘° ®”°—¥ ‡À≈à“π’≈È «â π‡ªìπ≈Ÿ°§â“¥—ßÈ ‡¥‘¡¡“¬“«π“π·≈– Õ—µ√“°“√‡™à“¢Õßµ÷°‡æ‘¡Ë Õ¬Ÿà ∑’Ë 95% ´÷Ë߇ªìπ√–¥—∫∑’Ëπà“æÕ„® ¬—ß¡’ Õ“§“√Õ‘  √–‡æ≈  ´÷Ëßµ—ÈßÕ¬Ÿàµ‘¥°—𠇪ìπÕ“§“√ Ÿß 6 ™—Èπ ¡’æ◊Èπ∑’Ë„™â Õ¬√«¡ 3,443 µ“√“ß ‡¡µ√ ∫π‡π◊ÈÕ∑’Ë 5 ‰√à ß“πª√—∫ª√ÿßÕ“§“√·≈⫇ √Á®‡¡◊ËÕ ‡¡.¬.ªïπ’È ªí®®ÿ∫—π¡’ºŸâ‡™à“ª√–¡“≥ 26% ·≈–§“¥«à“®– “¡“√∂‡æ‘Ë¡Õ—µ√“ °“√‡™à“‡ªìπ 75% „π ‘Èπªï 2548 π’È „πªï∑’˺à“π¡“∫√‘…—∑œ ‰¥â®—¥µ—Èß°Õß∑ÿπ√«¡Õ —ßÀ“√‘¡∑√—æ¬å∫“ß°Õ° (Bangkok Commercial Property Fund) ´÷Ë߇ªìπ °Õß∑ÿπ√«¡Õ —ßÀ“√‘¡∑√—æ¬å∑’Ë≈ß∑ÿπ∫πæ◊Èπ∑’Ë°«à“ 6,900 µ“√“߇¡µ√ ¢Õßµ÷°™“≠Õ‘  √–∑“«‡«Õ√å ∂ππæ√–√“¡ 4 ·≈–æ◊Èπ∑’Ë°«à“ 22,468 µ“√“߇¡µ√ ¢Õßµ÷°™“≠Õ‘  √–∑“«‡«Õ√å 2 ∂ππ‡æ™√∫ÿ√’µ—¥„À¡à ‚¥¬¡’¡Ÿ≈§à“¢Õß°Õß∑ÿπª√–¡“≥ 1,000 ≈â“π∫“∑ °“√®—¥µ—Èß°Õß∑ÿπ√«¡œ ¥—ß°≈à“« ∑”„Àâ∫√‘…—∑œ ¡’√“¬‰¥â®“°°“√∫√‘À“√ß“π„Àâ°Õß∑ÿπ ¡’√“¬‰¥â®“°‡ß‘πªíπº≈ ·≈–¡’√“¬‰¥â‡æ‘Ë¡ „π°√≥’∑’ËÀπ૬≈ß∑ÿπ¢¬—∫√“§“ Ÿß¢÷Èπ ‡¡◊ËÕ°Õß∑ÿπ√«¡œ ‡µ‘∫‚µ¡’»—°¬¿“æ„π°“√°àÕ„À⇰‘¥√“¬‰¥â‡æ‘Ë¡ °Á¬àÕ¡ √â“ߧ«“¡¡—Ëπ§ß„Àâ ·°àºŸâ≈ß∑ÿπ„π°Õß∑ÿπ√«¡Õ’°¥â«¬ ®“°°“√¥”‡π‘πß“π„π‚§√ß°“√µà“ß Ê ∑—ßÈ À¡¥∑’ˉ¥â°≈à“«∂÷ß„π¢â“ßµâππ’È ®–‡ÀÁπ‰¥â«“à ∫√‘…∑— œ ‰¥â¥”‡π‘π°‘®°“√µà“ßÊ Õ¬à“ßµàÕ ‡π◊ËÕß ¥â«¬§«“¡√–¡—¥√–«—ß ‚¥¬¥”√߉«â´÷Ëß¡“µ√∞“π ·≈–§ÿ≥¿“æÕ—π¥’ ‡æ◊ËÕ§«“¡æ÷ßæÕ„® Ÿß ÿ¥¢Õß≈Ÿ°§â“ º≈ß“π„πªïπ’È®÷ßπ—∫ «à“Õ¬Ÿà„π√–¥—∫∑’Ëπà“æÕ„® ‚¥¬∫√‘…—∑œ  “¡“√∂ΩÉ“ΩíπÕÿª √√§ ·≈–ªí≠À“µà“ß Ê ∑’ˇ°‘¥¢÷Èπ‰¥âÕ¬à“ßߥߓ¡ º¡¡’§«“¡¡—Ëπ„®Õ¬à“ß ‡µÁ¡‡ªïò¬¡«à“ºŸâ∫√‘À“√ ∫√‘…—∑ ™“≠Õ‘  √– ¥’‡«≈ÁÕª‡¡π∑å ®”°—¥ (¡À“™π) ·≈–æπ—°ß“π¢Õß∫√‘…—∑∑ÿ°§π æ√âÕ¡®–π”æ“∫√‘…—∑ ‰ª„π∑‘»∑“ß∑’ˇÀ¡“– ¡ ·≈– —¡ƒ∑∏‘Ϻ≈¥—ß∑’˵—Èß„®∑ÿ°ª√–°“√ „ππ“¡¢Õߧ≥–°√√¡°“√∫√‘À“√ ·≈–æπ—°ß“π∫√‘…—∑ ™“≠Õ‘  √– ¥’‡«≈ÁÕª‡¡π∑å ®”°—¥ (¡À“™π) ∑ÿ°§π ¢Õ¢Õ∫æ√–§ÿ≥∑à“πºŸâ∂◊ÕÀÿâπ µ≈Õ¥®π≈Ÿ°§â“∑ÿ°∑à“π‡ªìπÕ¬à“ß Ÿß∑’Ë„À⧫“¡  π—∫ πÿπÕ¬à“ßµàÕ‡π◊ËÕߥ⫬¥’µ≈Õ¥¡“ æ√âÕ¡°—ππ’È ¢Õ àߧ«“¡ª√“√∂π“¥’ ·≈–æ√·Ààߧ«“¡ ”‡√Á® ¡∫Ÿ√≥å ®ß‰¥â‡°◊ÈÕÀπÿπ ·≈– Õ”π«¬»ÿ¿º≈·¥à∑à“πºŸâ¡’æ√–§ÿ≥∑ÿ°∑à“πµ≈Õ¥‰ª

¥â«¬§«“¡ª√“√∂π“¥’

𓬙“≠ Õ‘  √– ª√–∏“π°√√¡°“√

ANNUAL REPORT

2004 ::: 5


6 ::: √“¬ß“πª√–®”ªï

2547

Message from the Chairman

The passing year of 2004 was tough for Thai economy that was affected by the oil price, differences points of views which led to violence in the South, and the natural disaster in an extreme magnitude. It is necessary that both government and private sectors play its respective role with more care and caution in order for the business to survive among turbulent environment and several prevailing problems. Charn Issara Development Public Co., Ltd. has adopted such prudential approach in guilding its business whereby several projects have progressed in a satisfactory direction. Baan Issara Rama 9 project which located on Soi Ramkamhaeng 24 Huamark, Bangkapi, is single detached houses of premium quality. There are a total of 54 units on a land development site of 27 rais. The project is well designed by leading Architects and located on central urban location. It offers splendid modern house and is outstanding for its functionality. Many customers who visited the site had decided to buy and partly already moved into the project. The first phase of 28 units have been finished by more than 90% and it is expected that the remaining units would be completed by the end of 2005. Sri Panwa Project at Phuket is a luxurious resort villas located on the ridge of Panwa cape, 8 Kms. from Phuketûs downtown. The Villas are custom designed by a leading Architect for maximum sea viewûs exposure among well preserved tropical trees. The custom design approach made Sri Panwa standing out from the rest in the market. Sri Panwa has achieved a successful sales target of 8 villas sold out from 9 in phase 1. Another project worth mentioning is Baan Pleon Talay at Cha-Am beach, Hua Hin, Petchburi Province. The project is comprising of 7 buildings of residential condominiums of four-storey located by the sea. It has a large free form swimming pool bound by its frontage of most of 114 units. The project received a warm welcome from both former and new customers which contributed to the record sales of more than 90% after the launch in the beginning of the passing year. The land development at IRD (International Resources Development) on over 1,000 rais on OnnuchTheparaj Road, East of Suwanabhumi International Airport progressed substantially on the 354 rais which had been sold. The particular parcel is being developed into a polo field, a golf course and premium residential housing. The development has added a tremendous value to the remaining of the land bank. A master plan for the remaining land bank is under study and once completed will be used for future development of the next phase.


The office building for rent, Charn Issara Tower II on New Petchburi Road has achieved a satisfactory 95% occupancy rate. Among many valued tenants are Siemens Co., Ltd., Value Systems Co., Ltd., Siam City Factoring Public Company Ltd., Boots Retail (Thailand) Ltd., Small Industry Credit Guarantee Corporation, Thai Urethane Plastic Group of Co., Ltd. All of those have been a long term tenants in this building. Another building adjacent to Charn Issara Tower II is Issara Place. The 6-storey building located on a 5 rais land plot, carries net usable areas of 3,443 Sq.m. The renovation works completed in April and now the building has 26% occupancy rate. It is expected that by 2005 the occupancy can reach 75%. The company has founded Bangkok Commercial Property Fund in the previous year. The Fund of total Baht 1,000 million has been invested in more than 6,900 Sq.m. in Charn Issara Tower I on Rama 4 Road and more than 22,468 Sq.m. in Charn Issara Tower II on New Petchburi Road. The establishment of such property fund earned the Company management fees, dividend, and capital gain in the event of unit in the fund has gained its networth. Upon the growth of the fund, unit holders will be secured with more revenue and growing networth. The operation in those projects mentioned above has been carefully handled with continuity on the ground of good quality and standard for maximum customer satisfaction. The operation in the passing year is considered satisfactory. The Company has successfully overcome turbulents and problems with impressive results. I am confident that the Management of Charn Issara Development Public Co., Ltd. and all of its staff are ready to guide the Company onto appropriate direction and with fruitful results. On behalf of the Board of Directors and all staff of Charn Issara Development Public Company Limited, I would like to thank shareholders including every customers for your continued support. I wish you all success in whichever endeavor you may choose to pursue, I remain. Yours sincerely,

Charn Issara Chairman ANNUAL REPORT

2004 ::: 7


8 ::: √“¬ß“πª√–®”ªï

2547

√“¬ß“π§≥–°√√¡°“√µ√«® Õ∫ / Report from the Audit Committee

‡√’¬π ∑à“πºŸâ∂◊ÕÀÿâπ ∫√‘…—∑ ™“≠Õ‘  √– ¥’‡«≈ÁÕª‡¡π∑å ®”°—¥ (¡À“™π) §≥–°√√¡°“√µ√«® Õ∫´÷ßË ª√–°Õ∫¥â«¬°√√¡°“√Õ‘ √–®”π«π 3 ∑à“π ªØ‘∫µ— À‘ πâ“∑’µË “¡∑’‰Ë ¥â√∫— ¡Õ∫À¡“¬®“°§≥–°√√¡°“√ ∫√‘…—∑‚¥¬§”π÷ß∂÷ßÀ≈—°°“√°”°—∫¥Ÿ·≈°‘®°“√µ“¡·π«∑“ߪؑ∫—µ‘∑’Ë¥’¢Õßµ≈“¥À≈—°∑√—æ¬å·Ààߪ√–‡∑»‰∑¬„π√Õ∫ªï∫—≠™’ 2547 ‰¥â®—¥„Àâ¡’°“√ª√–™ÿ¡∑—Èß ‘Èπ 7 §√—Èß ‚¥¬‰¥â¥”‡π‘π°‘®°√√¡¥—ßπ’È 1.  Õ∫∑“πß∫°“√‡ß‘π‚¥¬ª√–™ÿ¡√—∫øíߢâÕ¡Ÿ≈®“°ΩÉ“¬µ√«® Õ∫¿“¬„π·≈–§”™’·È ®ß®“°ΩÉ“¬∫√‘À“√„π‡√◊ÕË ß∑’‡Ë °’¬Ë «¢âÕßÕ¬à“ß ™—¥‡®π·≈–‡æ’¬ßæÕ √«¡∑—ßÈ ‰¡àæ∫ª√–‡¥ÁπÀ√◊Õ¢âÕ —߇°µÕ◊πË „¥Õ—π‡ªìπ “√– ”§—≠ ®÷ß¡’§«“¡‡ÀÁπ Õ¥§≈âÕß°—∫ºŸ â Õ∫∫—≠™’«“à ß∫°“√‡ß‘π ¥—ß°≈à“«∂Ÿ°µâÕßµ“¡‡°≥±åÕ¬à“߇À¡“– ¡·≈–‡æ’¬ßæÕ„π “√– ”§—≠µ“¡¡“µ√∞“π∫—≠™’∑√’Ë ∫— √Õß∑—«Ë ‰ªµ≈Õ¥®π¥Ÿ·≈„Àâ¡°’ “√‡ªî¥‡º¬ ¢âÕ¡Ÿ≈∑“ß°“√‡ß‘π„Àâµ√ßµ“¡¢âÕ‡∑Á®®√‘ß 2.  Õ∫∑“π√“¬°“√∑’‡Ë °’¬Ë «‚¬ß°—π∑’‡Ë °‘¥¢÷πÈ ‚¥¬„À⧫“¡‡ÀÁπ«à“√“¬°“√∑’‡Ë °’¬Ë «‚¬ß°—π¡’§«“¡‡À¡“– ¡·≈–°àÕ„À⇰‘¥ª√–‚¬™πå  Ÿß ÿ¥µàÕ∫√‘…—∑·≈–‡ªî¥‡º¬¢âÕ¡Ÿ≈Õ¬à“߇撬ßæÕ 3. °”°—∫¥Ÿ·≈„ÀâΩÉ“¬µ√«® Õ∫¿“¬„π¡’°“√µ‘¥µ“¡ °Æ √–‡∫’¬∫ ¢âÕ∫—ߧ—∫ ·≈–°ÆÀ¡“¬∑’ˇ°’ˬ«¢âÕß∑’˪√–°“»‚¥¬ µ≈“¥À≈—°∑√—æ¬å·Ààߪ√–‡∑»‰∑¬ 4.  Õ∫∑“π„Àâ¡’√–∫∫°“√§«∫§ÿ¡¿“¬„π∑’Ë¡’ª√– ‘∑∏‘º≈·≈–‰¡àæ∫¢âÕ∫°æ√àÕß∑’Ë¡’π—¬ ”§—≠∑’Ë°àÕ„À⇰‘¥º≈°√–∑∫∑’Ë¡’ “√–  ”§—≠ 5.  √â“ß®‘µ ”π÷°·≈–°“√¬Õ¡√—∫„πÀ≈—°°“√‡°’ˬ«°—∫∫√√…—∑¿‘∫“≈∑’Ë¥’ (Good Corporate Governance) „π°“√ªÆ‘∫—µ‘ ß“π¢Õß∫√‘…—∑ §≥–°√√¡°“√µ√«® Õ∫‡™◊ÕË ¡—πË «à“ ‘ßË ∑’‰Ë ¥âªØ‘∫µ— ¬‘ Õà ¡¡’ «à πº≈—°¥—π„Àâ∫√‘…∑— ¡’°“√°”°—∫¥Ÿ·≈°‘®°“√∑’¥Ë ’ ¡’√–∫∫°“√§«∫§ÿ¡ ¿“¬„π·≈–°“√∫√‘À“√§«“¡‡ ’ˬß∑’Ë¥’ ¡’§«“¡‚ª√àß„  µ√«® Õ∫‰¥â ‚¥¬√—°…“º≈ª√–‚¬™πå¢ÕߺŸâ∂◊ÕÀÿâπ‡ªì𠔧—≠

π“¬ æ‘ ÿ∑∏‘Ï ‡¥™–‰°»¬– ª√–∏“π§≥–°√√¡°“√µ√«® Õ∫


Dear Shareholders Charn Issara Development Public Co., Ltd. The Audit Committee consisting of 3 independent Directors has performed their duties assigned by the Board of Directors in recognition of rules and regulations compliance with the Stock Exchange of Thailand in the fiscal year 2004. During the year there has been 7 meetings convened to transact business which can be summarized as follows:1. The Committee has reviewed financial statements by meeting with internal auditor and the management on their respective correspondences. The clarifications and reports thereby was found to be adequate without significant note. The Committee was therefore resolved to agree with the auditor that the financial statement was accurate and adequate in contents according to generally accepted accounting principles. The Committee has also monitored the disclosure of accurate financial data. 2. The Committee has reviewed all related transactions with on opinion that those transactions were justified with optimum benefits to the Company and that adequate disclosure were made. 3. The Committee has monitored the internal auditor to keep abreast with rules, regulations and governing laws related to the Stock Exchange of Thailand. 4. The Committee has reviewed the internal audit system and found no relevant deficiency which may lead to significant consequence which can affect the Company没s operation. 5. The Committee has reinforced the culture of good corporate governance in the Company没s operation. The Audit Committee is certain that our works has caused the Company to maintain a good corporate management with sound internal audit and risk management. This transparent environment will help maintaining highest shareholders没 benefits.

Phisud Dejakaisay Chairman of Audit Committee ANNUAL REPORT

2004 ::: 9


10 ::: √“¬ß“πª√–®”ªï

2547

≈—°…≥–°“√ª√–°Õ∫∏ÿ√°‘® / Business Outlines ∫√‘…—∑ ™“≠Õ‘  √– ¥’‡«≈ÁÕª‡¡π∑å ®”°—¥ (¡À“™π) (ç∫√‘…—∑é) °àÕµ—Èߢ÷Èπ‡¡◊ËÕ«—π∑’Ë 22 ∏—𫓧¡ 2532 ‚¥¬¡’∑ÿ𠮥∑–‡∫’¬π‡√‘¡Ë ·√° 20 ≈â“π∫“∑ „π‡¥◊Õπ¡‘∂πÿ “¬π 2545 ∫√‘…∑— ‰¥â·ª√ ¿“殓°∫√‘…—∑®”°—¥‡ªìπ∫√‘…—∑¡À“™π ·≈–‡¢â“®¥ ∑–‡∫’¬π„πµ≈“¥À≈—°∑√—æ¬å·Ààߪ√–‡∑»‰∑¬„π«—π∑’Ë 16 ∏—𫓧¡ 2545 ªí®®ÿ∫π— ∫√‘…∑— ¡’∑πÿ ®¥∑–‡∫’¬π·≈–∑ÿπ‡√’¬°™”√– ·≈â« 600 ≈â“π∫“∑ ∏ÿ√°‘®À≈—°¢Õß∫√‘…∑— §◊Õ ∏ÿ√°‘®„À⇙à“Õ“§“√ ”π—°ß“π ·≈–»Ÿπ¬å°“√§â“ 炧√ß°“√™“≠Õ‘  √–∑“«‡«Õ√å 2é ∏ÿ√°‘®√—∫ ∫√‘À“√‚§√ß°“√Õ —ßÀ“√‘¡∑√—æ¬å„Àâ·°à∫√‘…—∑∑’ˇ°’ˬ«¢âÕß ·≈– ∏ÿ√°‘®æ—≤π“Õ —ßÀ“√‘¡∑√—æ¬å‡æ◊ËÕ¢“¬ 1) ∏ÿ√°‘®„À⇙à“Õ“§“√ ”π—°ß“π·≈–»Ÿπ¬å°“√§â“ ‚§√ß°“√™“≠Õ‘  √–∑“«‡«Õ√å 2 ‡ªìπÕ“§“√ ”π—°ß“π·≈– »Ÿπ¬å°“√§â“ Ÿß 36 ™—Èπ µ—ÈßÕ¬Ÿà∫π‡π◊ÈÕ∑’Ë°«à“ 4 ‰√à§√÷Ëß ∫π∂ππ ‡æ™√∫ÿ√µ’ ¥— „À¡à ‡√‘¡Ë °àÕ √â“ß„πªï 2533 ·≈–·≈⫇ √Á®„πªï 2535 ¡Ÿ≈§à“‡ß‘π≈ß∑ÿπª√–¡“≥ 3,500 ≈â“π∫“∑ ¡’æ◊Èπ∑’Ë„™â Õ¬„π Õ“§“√√«¡ª√–¡“≥ 58,571 µ“√“߇¡µ√ ∫√‘…—∑∫√‘À“√æ◊Èπ∑’Ë ‡™à“ª√–¡“≥ 32,870 µ“√“߇¡µ√ ‚¥¬‡ªìπæ◊πÈ ∑’¢Ë Õß∫√‘…∑— 1,000 µ“√“߇¡µ√ ‡™à“¡“∫√‘À“√ 9,401 µ“√“߇¡µ√ ·≈–√—∫®â“ß∫√‘À“√ 22,469 µ“√“߇¡µ√ πÕ°π—Èπ‡ªìπæ◊Èπ∑’Ë∑’Ë¢“¬„Àâ≈Ÿ°§â“√“¬¬àÕ¬ ·≈⫪√–¡“≥ 25,701 µ“√“߇¡µ√ ≥  ‘Èπªï 2547 ¡’Õ—µ√“ °“√‡™à“æ◊πÈ ∑’ªË √–¡“≥ 87.40 % ¢Õßæ◊πÈ ∑’„Ë À⇙à“∑—ßÈ À¡¥ ·≈–„𠇥◊Õπ ‘ßÀ“§¡ 2546 ∫√‘…—∑‰¥â∑” —≠≠“‡™à“æ◊Èπ∑’Ë®“°∫√‘…—∑ ™≈ª√–∑“π´’‡¡πµå ´÷Ëßµ‘¥°—∫Õ“§“√™“≠Õ‘  √–∑“«‡«Õ√å 2 ∫π‡π◊ÈÕ∑’˪√–¡“≥ 5 ‰√à ·≈–æ◊Èπ∑’Ë„™â Õ¬„πÕ“§“√ª√–¡“≥ 3,443 µ“√“߇¡µ√ ‡ªìπ‡«≈“ 3 ªï ‡æ◊ËÕ√Õß√—∫°≈ÿà¡≈Ÿ°§â“¢Õß ∫√‘…—∑‡¥‘¡∑’˵âÕß°“√¢¬“¬æ◊Èπ∑’Ë·≈– ≈Ÿ°§â“√“¬„À¡à ªí®®ÿ∫—π¡’ Õ—µ√“°“√‡™à“æ◊Èπ∑’˪√–¡“≥ 26% 2) ∏ÿ√°‘®√—∫®â“ß∫√‘À“√‚§√ß°“√ „πªï 2546 ∫√‘…—∑‰¥â √—∫·µàßµ—Èß®“°°Õß∑ÿπ√«¡Õ —ßÀ“√‘¡∑√—æ¬å ∫“ß°Õ° ‡ªìπºŸâ ∫√‘À“√Õ —ßÀ“√‘¡∑√—æ¬å ·≈–ºŸâ®—¥°“√∑√—æ¬å ‘π¢Õß°Õß∑ÿπœ ´÷ßË ª√–°Õ∫‰ª¥â«¬ÀâÕß™ÿ¥„πÕ“§“√™“≠Õ‘  √–∑“«‡«Õ√å ·≈– Õ“§“√™“≠Õ‘  √–∑“«‡«Õ√å 2 √«¡æ◊Èπ∑’Ë∑—ÈßÀ¡¥ 29,386

Charn Issara Development Public Company Limited was founded on 22nd December 1989 with a registered capital of 20 million baht. It went public and became a listed company on the SET in June 2002. Currently, the company has a total paid registered capital of 600 million baht. The Companyûs core business is leasing office space and a shopping plaza under the çCharn Issara Tower 2 projecté, managing property assets for associated companies, and developing property for sale. 1) Office space and shopping plaza for lease: çCharn Issara Tower 2é is a 36-storey office building located on a four and half rai plot of land on New Petchburi Road. Its construction began in 1990 and was completed in 1992 with a total investment of 3,500 million baht. Of the buildingûs total functional space of 58,571 Sq.m., 32,870 Sq.m. is under the companyûs management including 1,000 Sq.m. for the companyûs offices, 9,401 Sq.m. for lease and 22,469 Sq.m. has been sold to retail customers. As of year end 2004, the occupancy rate of the rental space was 87.40%. In August, the company rented a Jalaprathan Cement Public Company building located on a 5-rai plot of land adjacent to Charn Issara Tower 2 with approximately 3,443 Sq.m. of office space. This 3-year lease enables the company to accommodate its existing customers with office expansion plans and its new ones. The current occupancy rate for this building is around 26% 2) Office building and asset management: In 2003, the company was appointed by Bangkok Commercial Property Fund as Property manager


µ“√“߇¡µ√ ‡ªìπ√–¬–‡«≈“ 10 ªï πÕ°®“°π’È∫√‘…—∑‰¥â√—∫®â“ß ∫√‘À“√ß“π¥â“π°“√‡ß‘π·≈–°“√∫—≠™’ √«¡∑—Èß°“√®—¥°“√ ‚§√ß°“√¢Õß∫√‘…∑— Õ‘π‡µÕ√å ‡π™—πË ·π≈ √’´Õ√å∑ ¥’‡«≈≈Õª‡¡π∑å ®”°—¥ 3) ∏ÿ√°‘®æ—≤π“Õ —ßÀ“√‘¡∑√—æ¬å‡æ◊ËÕ¢“¬ „πªï 2546 ∫√‘…—∑‰¥â‡√‘Ë¡æ—≤𓂧√ß°“√∫â“π‡¥’Ë¬« 炧√ß°“√∫â“πÕ‘  √– æ√–√“¡ 9é µ—ÈßÕ¬Ÿà¬à“π„®°≈“߇¡◊Õß ∫π∂ππæ√–√“¡ 9 µ—¥ „À¡à ´Õ¬√“¡§”·Àß 24 °√ÿ߇∑æœ ¡’¡Ÿ≈§à“‚§√ß°“√√«¡ ª√–¡“≥ 1,200 ≈â“π∫“∑ ´÷ßË ·≈⫇ √Á®∫“ß à«π ·≈–¡’°“√‡ªî¥ µ—«Õ¬à“߇ªìπ∑“ß°“√‡¡◊ËÕµâπ‡¥◊Õπ ∏—𫓧¡ 2546 §“¥«à“®–  “¡“√∂ªî¥‚§√ß°“√‰¥â„πªï 2548 ∫√‘…—∑ ™“≠Õ‘  √– ‡√ ´‘‡¥π∑å ®”°—¥ ª√–°Õ∫∏ÿ√°‘® æ—≤π“Õ —ßÀ“√‘¡∑√—æ¬å‡æ◊ÕË ¢“¬ ªí®®ÿ∫π— Õ¬Ÿ√à –À«à“ß°“√æ—≤π“ 炧√ß°“√»√’æπ— «“é ´÷ßË ‡ªìπ‚§√ß°“√∫â“πæ—°µ“°Õ“°“»¡Ÿ≈§à“ 1,200 ≈â“π∫“∑ ∫π‡π◊ÈÕ∑’˪√–¡“≥ 57 ‰√à µ—ÈßÕ¬Ÿà∑’Ë·À≈¡

and Assets manager including office suites in Charn Issara Tower and Charn Issara Tower 2 totaling 29,388 Sq.m. for a period of 10 years. In addition, the company has been hired by International Resource Development Co., Ltd. To manage its financial and accounting affairs as well as its development projects. 3) Property development for sale: In 2003, the companyûs çBaan Issara Rama 9 projecté, which develops single detached houses, began in 2003. The project site is located in the heart of the city, on Soi Ramkhamhang 24, off New Rama 9 Road, with a total investment of 1,200 million baht. The project is partially complete and model houses were officially open for viewing in December 2003. It is scheduled to be completed by 2005.

∫√‘…—∑¡’‡ß‘π≈ß∑ÿπ„π∫√‘…—∑¬àÕ¬·≈–∫√‘…—∑∑’ˇ°’ˬ«¢âÕߥ—ßπ’È The company has investments in the following subsidiaries and associated companies: ∑ÿ π ∑’Ë ‡ √’ ¬ °™”√–·≈â « ®”π«πÀÿâπ∑’Ë∂◊Õ ¡Ÿ≈§à“∑’˵√“‰«â ™◊Ë Õ ∫√‘ …— ∑ (≈â“π∫“∑) §√ÕßÕ¬Ÿà (∫“∑) Company Names Total paid registered Total shares Par value Capital (Million) (Baht) ∫√‘…—∑ ™“≠Õ‘  √– ‡√ ´‘‡¥π∑å ®”°—¥ Charn Issara Residence Co., Ltd. ∫√‘…—∑ ™“≠Õ‘  √– «‘¿“æ≈ ®”°—¥ Charn Issara Vipaphol Co., Ltd. °Õß∑ÿπ√«¡Õ —ßÀ“√‘¡∑√—æ¬å ∫“ß°Õ° Bangkok Commercial Property Fund ∫√‘…—∑ Õ‘π‡µÕ√å‡π™—Ëπ·π≈ √’´Õ√å∑ ¥’‡«≈≈Õª‡¡π∑å ®”°—¥ International Resources Development Co., Ltd.

100.00

600,000

100

 —¥ à«π°“√ ∂◊ÕÀÿâπ (%) Shareholding Percentage % 60.000

6.00

29,996

100

49.993

1,000.00

33,300,000

10

33.300

1,897.95

3,034,534

100

15.989

æ—π«“ ®—ßÀ«—¥¿Ÿ‡°Áµ ≈âÕ¡√Õ∫¥â«¬«‘«∑–‡≈·≈–‡°“–πâÕ¬„À≠à ‚¥¬√Õ∫ °≈ÿà¡≈Ÿ°§â“¢Õß‚§√ß°“√»√’æ—π«“ §◊Õ ™“«µà“ß™“µ‘ ·≈–™“«‰∑¬∑’Ëπ‘¬¡°“√„™â™���«‘µ„π®—ßÀ«—¥¿Ÿ‡°Áµ´÷Ë߇ªìπ ∂“𠵓°Õ“°“»∑’Ë¡’™◊ËÕ‡ ’¬ßµ‘¥Õ—π¥—∫‚≈° °“√°àÕ √â“߇ø ·√° ¢Õß‚§√ß°“√§√Õ∫§≈ÿ¡‡π◊ÕÈ ∑’ªË √–¡“≥ 30 ‰√à ‰¥â‡√‘¡Ë ¢÷πÈ ‰µ√¡“  ·√°¢Õߪï2546 ·≈–§“¥«à“®–·≈⫇ √Á®∫“ß à«π„π‰µ√¡“ ∑’Ë 4 ¢Õߪï 2548

Charn Issara Residence Co., Ltd. develops property for sale. It is currently developing a 1,200 million baht villa project known as çSri Panwaé on approximately 57 rais of land at Cape Panwa in Phuket. The site has a view of the Ocean and surrounding Islands. The projectûs target customers are Thais and foreigners who enjoy the lifestyle of ANNUAL REPORT

2004 ::: 11


12 ::: √“¬ß“πª√–®”ªï

2547

∫√‘…∑— ™“≠Õ‘  √– «‘¿“æ≈ ®”°—¥ ª√–°Õ∫∏ÿ√°‘®æ—≤π“ Õ —ßÀ“√‘¡∑√—æ¬å‡æ◊ËÕ¢“¬ ªí®®ÿ∫—πÕ¬Ÿà√–À«à“ß°“√æ—≤π“ 炧√ß°“√∫â“π‡æ≈‘π∑–‡≈é ´÷Ë߇ªìπ‚§√ß°“√§Õπ‚¥¡’‡π’¬¡ æ—°µ“°Õ“°“»¡Ÿ≈§à“ª√–¡“≥ 500 ≈â“π∫“∑ ∫π‡π◊ÕÈ ∑’ªË √–¡“≥ 7 ‰√à µ—ÈßÕ¬Ÿà∑’ËÕ”‡¿Õ™–Õ” ®—ßÀ«—¥‡æ™√∫ÿ√’ ‡ªìπ∑”‡≈∑’ˇߒ¬∫  ß∫‰¡àæ≈ÿ°æ≈à“π∫πæ◊Èπ∑’Ë¥‘π°«à“ 7 ‰√à Àπâ“°«â“ß 65 ‡¡µ√ µ‘¥™“¬∑–‡≈ ‰¡à¡’∂ππ¢«“ß°—Èπ  –Õ“¥ª√“»®“°¡≈¿“«– ‡ªìπÀ“¥ à«πµ—«∑’Ëπ—∫«—π®–À“‰¥â¬“°¢÷Èπ „π ¿“æ·«¥≈âÕ¡ ¢Õß∏√√¡™“µ‘ —¡º— ‡ ’¬ß§≈◊Ëπ·≈–Õ“°“»· π∫√‘ ÿ∑∏‘Ï ‰ ¥â Õ¬à“ß·∑â®√‘ß °≈ÿ¡à ≈Ÿ°§â“¢Õß‚§√ß°“√»√’æπ— «“ §◊Õ ™“«µà“ß™“µ‘ ·≈–™“«‰∑¬∑’˵âÕß°“√¡’∫â“πæ—°µ“°Õ“°“»„π√“§“∑’ˉ¡à·æß ¡“°π—° ·≈–Õ¬Ÿà„°≈â°√ÿ߇∑æœ ªí®®ÿ∫—πÕ¬Ÿà‰¥â°àÕ √â“߉ª·≈â« ª√–¡“≥√âÕ¬≈– 50 ¢Õß‚§√ß°“√ ¡’¬Õ¥®Õß·≈â«°«à“√âÕ¬≈– 80 §“¥«à“®–°àÕ √â“߇ √Á®ª√–¡“≥‰µ√¡“ ∑’ Ë “¡¢Õߪï 2548 ∫√‘…∑— Õ‘π‡µÕ√å‡π™—πË ·π≈ √’´Õ√å∑ ¥’‡«≈≈Õª‡¡π∑å ®”°—¥ ª√–°Õ∫∏ÿ√°‘®æ—≤π“Õ —ßÀ“√‘¡∑√—æ¬å‡æ◊ËÕ¢“¬ ªí®®ÿ∫—π¡’∑’Ë¥‘π √Õ°“√æ—≤π“ 1,024 ‰√à Õ¬Ÿà„°≈â°—∫ π“¡∫‘π ÿ«√√≥¿Ÿ¡‘

‚§√ß √â“ß√“¬‰¥â ‚§√ß √â“ß√“¬‰¥â¢Õß∫√‘…—∑ “¡“√∂®”·π°‰¥â¥—ßπ’È

Phuket, a world renowned resort. The first phase, which began in the first quarter of 2003, covered an area of 30 rais and was scheduled to be partially complete in the fourth quarter, 2005. Charn Issara Vipaphol Co., Ltd. Develops property for sale. It is currently developing a 500 million baht çBaan Ploen Talayé condominium resort project in Cha-Am District, Petchburi Province. The site is located right on the beach on a isolated plots of over 7 rais, 65 meters in width. The pristine beach offers rare privacy in a truly natural environment filled with sounds of waves and fresh clean ocean breezes. Target customers are Thais and foreigners who need a reasonably priced villa not far from Bangkok. The construction has progressed by approximately 50% with more than 80% sales. It is expected that the construction can completed by the third quarter of 2005. International Resource Development Co., Ltd. Is develops property for sale. Its land bank of 1,024 rais is located near the Suwannaphum Airport.

Revenue Structure The Company's revenue can be classified as follow: ª√–‡¿∑√“¬‰¥â Type of Revenues √“¬‰¥â§à“‡™à“·≈–∫√‘°“√ Rental and services income √“¬‰¥â®“°°“√¢“¬ Revenue from sales √“¬‰¥â§à“∏√√¡‡π’¬¡∫√‘À“√ß“π Management fee Income √“¬‰¥âÕ◊ËπÊ Other incomes √«¡√“¬‰¥â∑ß—È  ‘πÈ Total Revenues

2547/ 2004 2547/2004 % √“¬‰¥â Revenue 87.4 15.7

2546/ 2003 2546/2003 √“¬‰¥â % Revenue 133.9 14.3

(Àπ૬: ≈â“π∫“∑) (Unit : Million Baht) 2545/ 2002 2001 2545/2002 2544/2001 2544/ √“¬‰¥â % Revenue 136.9 72.6

√“¬‰¥â % Revenue 136.3 93.5

423.8

76.3

756.6

80.4

15.3

8.1

-

-

5.7

1.0

25.5

2.7

20.4

10.8

-

-

38.4

7.0

24.7

2.6

15.9

8.5

9.5

6.5

555.3

100.0

940.7

100.0

188.5

100.0

145.8

100.0


‚§√ß √â“ß°≈ÿà¡∫√‘…—∑ ≥ 31 ∏—𫓧¡ 2547 Company Groups Structure as December 31, 2004

∫√‘…—∑ ™“≠Õ‘  √– ¥’‡«≈ÁÕª‡¡π∑å ®”°—¥ (¡À“™π) Charn Issara Development Public Company Limited

60%

∫√‘…—∑ ™“≠Õ‘  √– ‡√ ´‘‡¥π∑å ®”°—¥

49.995%

Charn Issara Residence Co., Ltd.

∫√‘…—∑™“≠Õ‘  √– «‘¿“æ≈ ®”°—¥ Charn Issara Viphaphol Co., Ltd.

‡≈¢∑’Ë 2922/181 ∂ππ‡æ™√∫ÿ√’µ—¥„À¡à ·¢«ß∫“ß°–ªî ‡¢µÀ⫬¢«“ß °√ÿ߇∑æœ 10320 ‚∑√»—æ∑å 66(0)2308-2020, ‚∑√ “√ 66(0)2308-2990 ª√–‡¿∑∏ÿ√°‘® : æ—≤π“Õ —ßÀ“√‘¡∑√—æ¬å‡æ◊ËÕ¢“¬ ®”π«π·≈–™π‘¥Àÿâπ∑’Ë®”Àπà“¬ : Àÿâπ “¡—≠ 1,000,000 Àÿâπ ¡Ÿ≈§à“Àÿâπ≈– 100 ∫“∑

‡≈¢∑’Ë 2922/181 ∂ππ‡æ™√∫ÿ√’µ—¥„À¡à ·¢«ß∫“ß°–ªî ‡¢µÀ⫬¢«“ß °√ÿ߇∑æœ 10320 ‚∑√»—æ∑å 66(0)2308-2020, ‚∑√ “√ 66(0)2308-2990 ª√–‡¿∑∏ÿ√°‘® : æ—≤π“Õ —ßÀ“√‘¡∑√—æ¬å‡æ◊ËÕ¢“¬ ®”π«π·≈–™π‘¥Àÿâπ∑’Ë®”Àπà“¬ : Àÿâπ “¡—≠ 60,000 Àÿâπ ¡Ÿ≈§à“Àÿâπ≈– 100 ∫“∑

2922/181 New Petchburi Road, Bangkapi, Huay Kwang, Bangkok 10320 Tel. : 66(0) 2308-2020 Fax. : 66(0) 2308-2990 Business : Property Development for sales Number and Type of shares sold: Common Share : 1,000,000 ; Par Value 100 Baht

2922/181 New Petchburi Road, Bangkapi, Huay Kwang, Bangkok 10320 Tel. : 66(0) 2308-2020 Fax. : 66(0) 2308-2990 Business : Property Development for sales Number and Type of shares sold: Common Share : 60,000; Par Value 100 Baht

33.3%

15.989%

°Õß∑ÿπ√«¡Õ —ßÀ“√‘¡∑√—æ¬å ∫“ß°Õ°

∫√‘…—∑ Õ‘π‡µÕ√å‡π™—Ëπ·π≈ √’´Õ√å∑ ¥’‡«≈≈Õª‡¡π∑å ®”°—¥

Bangkok Commercial Property Fund

International Resource Development Co., Ltd.

‡≈¢∑’Ë 989 Õ“§“√ ¬“¡∑“«‡«Õ√å ∂ππæ√–√“¡ 1 ·¢«ßª∑ÿ¡«—π ‡¢µª∑ÿ¡«—π °√ÿ߇∑æœ 10330 ‚∑√»—æ∑å 66(0)2659-8888, ‚∑√ “√ 66(0)2659-8860-1 ª√–‡¿∑∏ÿ√°‘® : °Õß∑ÿπ√«¡Õ —ßÀ“√‘¡∑√—æ¬å ®”π«π·≈–™π‘¥Àÿâπ∑’Ë®”Àπà“¬ : Àπ૬≈ß∑ÿπ 100,000,000 Àπ૬ ¡Ÿ≈§à“Àπ૬≈– 10 ∫“∑

‡≈¢∑’Ë 2922/185 ∂ππ‡æ™√∫ÿ√’µ—¥„À¡à ·¢«ß∫“ß°–ªî ‡¢µÀ⫬¢«“ß °√ÿ߇∑æœ 10320 ‚∑√»—æ∑å 66(0)2308-2020, ‚∑√ “√ 66(0)2308-2990 ª√–‡¿∑∏ÿ√°‘® : æ—≤π“Õ —ßÀ“√‘¡∑√—æ¬å‡æ◊ËÕ¢“¬ ®”π«π·≈–™π‘¥Àÿâπ∑’Ë®”Àπà“¬ : Àÿâπ “¡—≠ 18,979,500 Àÿâπ ¡Ÿ≈§à“Àÿâπ≈– 100 ∫“∑

989 Siam Tower, Rama 1 Road, Pathumwan, Pathumwan, Bangkok 10330 Tel. : 66(0)2659-8888 Fax. : 66(0)2659-8860-1 Business : Property Fund Number and Type of shares sold : Units of investment 100,000,000 Par Value 10 Baht

2922/181 New Petchburi Road, Bangkapi, Huay Kwang, Bangkok 10320 Tel. : 66(0) 2308-2020 Fax. : 66(0) 2308-2990 Business : Property Development for sales Number and Type of shares sold: Common Share 18,979,500; Par Value 100 Baht

ANNUAL REPORT

2004 ::: 13


14 ::: √“¬ß“πª√–®”ªï

2547

ªí®®—¬§«“¡‡ ’Ë¬ß / Risk Factors 1. §«“¡‡ ’ˬ߮“°°“√‰¥â∫√‘À“√æ◊Èπ∑’Ë„Àâ‡™à“ ‡π◊ËÕß®“°∫√‘…—∑‡ªìπºŸâ∫√‘À“√∑√—æ¬å ‘π¢Õß°Õß∑ÿπ√«¡ Õ —ßÀ“√‘¡∑√—æ¬å∫“ß°Õ° ´÷Ëߪ√–°Õ∫¥â«¬æ◊Èπ∑’Ë„Àâ‡™à“„π Õ“§“√™“≠Õ‘  √–∑“«‡«Õ√å 6,917.64 µ“√“߇¡µ√ ·≈– Õ“§“√™“≠Õ‘  √–∑“«‡«Õ√å 2 ¡’æ◊Èπ∑’Ë’ 22,468.60 µ“√“߇¡µ√ √«¡∑—Èßæ◊Èπ∑’Ë∑’Ë∫√‘…—∑‡™à“®“°∏𓧓√‰∑¬∏𓧓√ ª√–¡“≥ 9,401 µ“√“߇¡µ√ ´÷Ëß∫√‘…—∑µâÕß∫√‘À“√„À≥ⵓ¡‡ªÑ“À¡“¬ ¢Õß°Õß∑ÿπœ ·≈– §«“¡‡ ’ˬ߮“°°“√∑’Ë®–‰¥âµàÕ —≠≠“‡™à“ ®“°∏𓧓√‰∑¬∏𓧓√ ´÷ßË ®–§√∫°”Àπ¥„π‡¥◊Õπ ¡‘∂πÿ “¬π 2548 Õ¬à“߉√°Á¥º’ ∫Ÿâ √‘À“√§“¥«à“®– “¡“√∂∫√‘À“√æ◊πÈ ∑’‰Ë ¥âÕ¬à“ß ¡’ª√– ‘∑∏‘¿“æ ·≈– ¬—ߧ߉¥âµàÕ —≠≠“‡™à“®“°∏𓧓√‰∑¬ ∏𓧓√ÕÕ°‰ªÕ’°Õ¬à“ßπâÕ¬ 1 ªï ·≈–„π‡¥◊Õπ ‘ßÀ“§¡ 2546 ∫√‘…—∑‰¥â∑” —≠≠“‡™à“æ◊Èπ∑’Ë®“°∫√‘…—∑™≈ª√–∑“π´’‡¡πµå ´÷Ëß µ‘¥°—∫Õ“§“√™“≠Õ‘  √–∑“«‡«Õ√å 2 ∫π‡π◊ÈÕ∑’˪√–¡“≥ 5 ‰√à ·≈–æ◊Èπ∑’Ë„™â Õ¬„πÕ“§“√ª√–¡“≥ 3,443 µ“√“߇¡µ√ ‡ªì𠇫≈“ 3 ªï ¡“∫√‘À“√‡æ‘Ë¡‡µ‘¡Õ’°¥â«¬

1. Risks associated with managing rental space As Manager of the Bangkok Commercial Property Fund assets consisting of a total rental space of 6,917.84 Sp.m in Charn Issara Tower 1, 22,488.60 Sq.m. in Charn Issara Tower 2 and 9,401 Sq.m in the ThaiBank Building, we are bound by our commitment to attaining the Fundûs target. At the same time, our rental contract with the ThaiBank will expire in June 2004. However, the company believes that it will successfully extend the contract for at least another year. In August 2003, we signed a 3-year contract with Jalaprathan Cement Public Company,renting approximately 5 rai of land adjacent to Charn Issara Tower 2 and about 3,443 Sq.m. of functional space that attached to the Jalaprathan Cement Building.

2. §«“¡‡ ’¬Ë ߇√◊ÕË ß§«“¡ ”‡√Á®¢Õß‚§√ß°“√∑’¥Ë ”‡π‘π°“√Õ¬Ÿ®à –¡’ º≈°√–∑∫µàÕ∞“π–°“√‡ß‘π ·≈–º≈¥”‡π‘πß“π¢Õß∫√‘…—∑ ∫√‘…—∑°”≈—ßæ—≤𓂧√ß°“√„À¡à 3 ·Ààß §◊Õ ‚§√ß°“√ ∫â“πÕ‘  √–æ√–√“¡ 9 ‚§√ß°“√∫â“πæ—°µ“°Õ“°“» ç»√’æπ— «“é ≥ ·À≈¡æ—π«“ ®—ßÀ«—¥¿Ÿ‡°Áµ ·≈–‚§√ß°“√§Õπ‚¥¡‘‡π’¬¡ µ“°Õ“°“» ç∫â“π‡æ≈‘π∑–‡≈é ≥ ™“¬À“¥ Õ”‡¿Õ™–Õ” ®—ßÀ«—¥ ‡æ™√∫ÿ√’ ‚¥¬¡’¡Ÿ≈§à“‚§√ß°“√·µà≈–‚§√ß°“√ª√–¡“≥ 1,200 ≈â“π∫“∑ 1,200 ≈â“π∫“∑ ·≈– 500 ≈â“π∫“∑ µ“¡≈”¥—∫ §«“¡ ”‡√Á®¢Õß‚§√ß°“√‡À≈à“π’®È –¡’º≈°√–∑∫µàÕ∞“π–°“√‡ß‘π ·≈–º≈°“√¥”‡π‘πß“π¢Õß∫√‘…—∑„πÕ𓧵

2. Risks associated with the success of new projects crucial to our financial status and performance. The company is currently developing three new projects: Baan Issara Rama 9, çSri Panwaé Villa at Cape Panwa in Phuket, and çBaan Ploen Talayé on Cha-Am Beach, Petchburi Province. The value of the first two projects is 1,200 million baht each, while the other is valued at 500 million baht. Their success will be crucial to the companyûs future financial status and performance.


3. §«“¡‡ ’ˬ߇√◊ËÕß√“§“µâπ∑ÿπ«— ¥ÿ°àÕ √â“ß ‡π◊ËÕß®“°√“§“«— ¥ÿ°àÕ √â“ß¡’·π«‚π⡪√—∫√“§“ Ÿß¢÷Èπ ·≈–∫√‘…—∑°”≈—ßæ—≤π“Õ —ßÀ“√‘¡∑√—æ¬å‡æ◊ËÕ∑’ËÕ¬ŸàÕ“»—¬ ‡™àπ ∫â“π‡¥’Ë¬« ‡¡◊ËÕ≈Ÿ°§â“®Õß´◊ÈÕ∫â“π ∫√‘…—∑µâÕß„™â√–¬–‡«≈“ ª√–¡“≥ 6-8 ‡¥◊Õπ„π°“√°àÕ √â“ß ´÷ßË „π™à«ß‡«≈“¥—ß°≈à“«√“§“ «— ¥ÿ°àÕ √â“ßÕ“®¡’°“√ª√—∫µ—« Ÿß¢÷Èπ ´÷Ëß®–‡ªìπ°“√‡æ‘Ë¡µâπ∑ÿπ ·≈–∑”„Àâ∫√‘…∑— ¡’°”‰√≈¥≈ßÕ¬à“߉√°Áµ“¡ª°µ‘∫√‘…∑— ®–„Àâº√Ÿâ ∫— ‡À¡“°àÕ √â“߇ªìπ§π¥”‡π‘π°“√ ‚¥¬®–∑” —≠≠“≈à«ßÀπâ“ ∑”„Àâ∫√‘…—∑ “¡“√∂≈¥¿“√–§«“¡‡ ’ˬߵàÕ°“√‡æ‘Ë¡¢÷Èπ¢Õß √“§“«— ¥ÿ°àÕ √â“߉¥â

3. Risks associated with the cost of building materials. As a residential property developer, we are likely to be adversely affected by increase in the cost of building materials. A single detached house, for example, takes 6-8 months to complete after the purchase agreement has been signed. Should the cost of materials rise during construction, our profits may decline. However, the risk burden is reduced because the contractors are usually responsible for overseeing projects under an advance contract.

4. §«“¡‡ ’¬Ë ß„π‡√◊ÕË ß°“√‰¥â¡“´÷ßË ∑’¥Ë π‘ ‚¥¬¡’µπâ ∑ÿπ Ÿß°«à“§Ÿ·à ¢àß ‡π◊ËÕß®“°°“√‰¡à¡’∑’Ë¥‘π‡ª≈à“À√◊Õ∑’Ë¥‘π√Õ°“√æ—≤π“„π∫√‘…—∑ (Land bank) ‡π◊ÕË ß®“°∫√‘…∑— ¬—߉¡à¡∑’ √—æ¬å π‘ ∑’‡Ë ªìπ∑’¥Ë π‘ ‡ª≈à“À√◊Õ∑’¥Ë π‘ ∑’Ë√Õ°“√æ—≤π“ – ¡‰«â„π∫√‘…—∑ ®÷ßÕ“®¡’§«“¡‡ ’ˬ߄π°“√ æ—≤𓂧√ß°“√„πÕ𓧵 À“°∑’Ë¥‘π¡’√“§“‡æ‘Ë¡¢÷ÈπÕ“® àߺ≈ „Àâ∫√‘…—∑¡’µâπ∑ÿπ Ÿß„π°“√‰¥â¡“´÷Ëß∑’Ë¥‘π Ÿß°«à“§Ÿà·¢à߇æ◊ËÕ¡“ æ—≤π“

4. Risks associated with the acquisition of land at a higher cost than our rivals Since we have no land bank, our future development projects may be at risk. If land prices rise, acquisition costs may be higher than those of our rivals.

ANNUAL REPORT

2004 ::: 15


16 ::: √“¬ß“πª√–®”ªï

2547

‚§√ß √â“ß°“√∂◊ÕÀÿâπ·≈–°“√®—¥°“√ / Shareholders and Management Structure ºŸâ∂◊ÕÀÿâπ Shareholders List of the companyûs top 10 shareholders √“¬™◊ÕË °≈ÿ¡à ºŸ∂â Õ◊ Àÿπâ ∑’∂Ë Õ◊ Àÿπâ  Ÿß ÿ¥ 10 √“¬·√°æ√âÕ¡∑—ßÈ ®”π«πÀÿâπ∑’Ë∂◊Õ·≈– —¥ à«π°“√∂◊ÕÀÿâπ ≥ «—π∑’Ë 24 ¡°√“§¡ including number of shares and percentage as of 2548 January 24, 2005 √“¬™◊ËÕºŸâ∂◊ÕÀÿâπ

®”π«πÀÿπâ

√âÕ¬≈–¢Õß∑ÿ𠮥∑–‡∫’¬π™”√– ·≈â«

1. π“¬ ß°√“πµå Õ‘  √– 2. ∫√‘…—∑ ´’.‰Õ. æ√ÁÕæ‡æÕµ’È ®”°—¥ 3. 𓬇®…Æ“ ‡≈‘»π—π∑ªí≠≠“ 4. 𓬫√ ‘∑∏‘Ï Õ‘  √– 5. π“ß∑Õ ’  «— ¥‘Ï-™Ÿ‚µ 6. Raffles Nominees (PTE) Limite 7. π“ß∫ÿ»√‘π √—≠‡ «– 8. π“ß¿§«¥’  «— ¥‘Ï-™Ÿ‚µ 9. ∫√‘…—∑ ‰∑¬‡ÕÁπ«’¥’Õ“√å ®”°—¥ 10. π“¬æ‘∑—°…å ∑√—æ¬å»‘√‘ «— ¥‘Ï 11. Õ◊ËπÊ

35,200,280 23,620,000 11,997,200 4,055,000 4,000,000 4,000,000 1,290,000 1,200,000 1,070,900 1,005,000 32,561,620

29.33 19.68 10.00 3.38 3.33 3.33 1.08 1.00 0.90 0.84 27.13

√«¡

120,000,000

100.00

1. π“¬ ß°√“πµå Õ‘  √– 2. ∫√‘…—∑ ´’.‰Õ. æ√ÁÕæ‡æÕµ’È ®”°—¥ 3. 𓬫√ ‘∑∏‘Ï Õ‘  √– √«¡

®”π«πÀÿπâ 35,200,280 23,620,000 4,055,000 62,875,280

1. Mr. Songkran Issara 2. C.I. Property Co., Ltd. 3. Mr.Jedsada Lertnantapanya 4. Mr. Vorasit Issara 5. Mrs. Thawsi Svasti-xuto 6. Raffles Nominees (PTE) Limite 7. Mrs. Busarin Ransewa 8. Mrs. Pakkawadee Svasti-xuto 9. Thai N.V.D.R. Co., Ltd. 10. Mr. Pitak Subsirisawadi 11. Others Total

Number of Shares 35,200,280 23,620,000 11,997,200 4,055,000 4,000,000 4,000,000 1,290,000 1,200,000 1,070,900 1,005,000 32,561,620

% Total Shares 29.33 19.68 10.00 3.38 3.33 3.33 1.41 1.22 1.08 1.00 26.24

120,000,000 100.00

Major Shareholders Group as of January 24, 2005

°≈ÿࡺŸâ∂◊ÕÀÿâπ√“¬„À≠à ≥ «—π∑’Ë 24 ¡°√“§¡ 2548 √“¬™◊ËÕºŸâ∂◊ÕÀÿâπ

Name of Shareholders

√âÕ¬≈–¢Õß∑ÿ𠮥∑–‡∫’¬π™”√– ·≈â« 29.33 19.68 3.38 52.39

π‚¬∫“¬°“√®à“¬‡ß‘πªíπº≈ ∫√‘…∑— ¡’π‚¬∫“¬∑’®Ë –®à“¬‡ß‘πªíπº≈„Àâ·°àº∂Ÿâ Õ◊ Àÿπâ ‰¡à‡°‘π √âÕ¬≈– 40 ¢Õß°”‰√ ÿ∑∏‘À≈—ßÀ—°¿“…’‡ß‘π‰¥â𵑠∫‘ §ÿ §≈„π·µà≈–ªï ∑— ß π’È ° “√®à “ ¬‡ß‘ π ªí π º≈„Àâ π”ªí ® ®— ¬ µà “ ß Ê µà Õ ‰ªπ’È ¡ “ æ‘®“√≥“ª√–°Õ∫ ‡™àπ º≈°“√¥”‡π‘πß“π·≈–∞“π–°“√‡ß‘π¢Õß ∫√‘…—∑  ¿“æ§≈àÕߢÕß∫√‘…—∑ °“√¢¬“¬∏ÿ√°‘® ·≈–ªí®®—¬Õ◊Ëπ Ê ∑’ˇ°’ˬ«¢âÕß„π°“√∫√‘À“√ß“π¢Õß∫√‘…—∑ ´÷Ëß°“√®à“¬ ‡ß‘πªíπº≈¥—ß°≈à“«¢â“ßµâπ®–µâÕ߉¥â√—∫§«“¡‡ÀÁπ™Õ∫®“°∑’Ë ª√–™ÿ¡ºŸâ∂◊ÕÀÿâπµ“¡§«“¡‡À¡“– ¡·≈–§«“¡‡ÀÁπ™Õ∫¢Õß §≥–°√√¡°“√∫√‘…—∑

Name of Shareholders 1. Mr. Songkran Issara 2. C.I. Property Co., Ltd. 3. Mr. Vorasit Issara Total

Number of Shares 35,200,280 23,620,000 4,055,000 62,875,280

% Total Shares 29.33 19.68 3.38 52.39

Dividend Policy The Companyûs dividend policy is to pay no more than 40% of its net income after corporate income tax each year as dividend. However, many factors must be taken in to consideration before deciding to pay dividend such as operation result and financial status, the companyûs liquidity, business expansion, and other factors related to management of the company. In order to pay dividend it must be agreed upon in the shareholders meeting with consent of the companyûs board of directors.


°“√®—¥°“√

Management Board of Directors The Board of Directors was composed of 9 members as follows:1. Mr.Charn Issara Chairman 2. Mr.Songkran Issara Managing Director 3. Mr.Pravesvudhi Raiva Director 4. Mrs. Linda Prasertsom Director 5. Mr.Niti Osathanugrah Director 6. Mrs.Teeraporn Sricharoenwong Director 7. Mr.Phisud Dejakaisaya Chairman of Audit Committee and Independent Director 8. Mr.Witit Ratchatatanun Audit Committee and Independent Director 9. Mr.Pinit Puapan Audit Committee §◊ Õ and Independent Director

§≥–°√√¡°“√∫√‘…—∑ §≥–°√√¡°“√∫√‘…—∑ ª√–°Õ∫¥â«¬°√√¡°“√ 9 ∑à“π §◊Õ 1. 𓬙“≠ Õ‘  √– ª√–∏“π°√√¡°“√ 2. π“¬ ß°√“πµå Õ‘  √– °√√¡°“√ºŸâ®—¥°“√ 3. 𓬪√–‡«»«ÿ≤‘ ‰√«“ °√√¡°“√ 4. π“ß≈‘𥓠ª√–‡ √‘∞ ¡ °√√¡°“√ 5. π“¬π‘µ‘ ‚Õ ∂“πÿ‡§√“–Àå °√√¡°“√ 6. π“ß∏’√“¿√≥å »√’‡®√‘≠«ß»å °√√¡°“√ 7. π“¬æ‘ ÿ∑∏‘Ï ‡¥™–‰°»¬– ª√–∏“π°√√¡°“√µ√«® Õ∫ ·≈–°√√¡°“√Õ‘ √– 8. 𓬫‘∑‘µ √—™™µ“µ–π—π∑å °√√¡°“√µ√«® Õ∫ ·≈–°√√¡°“√Õ‘ √– 9. π“¬æ‘π‘® æ—«æ—π∏å °√√¡°“√µ√«® Õ∫ ·≈–°√√¡°“√Õ‘ √–

°√√¡°“√ºŸâ ¡’ Õ”π“®≈ßπ“¡·∑π∫√‘ …— ∑ π“¬ ß°√“πµå Õ‘  √– ≈ß≈“¬¡◊Õ™◊ËÕ·≈–ª√–∑—∫µ√“ ”§—≠ ∫√‘…—∑

Õ”π“®Àπâ“∑’Ë¢Õߧ≥–°√√¡°“√∫√‘…—∑ 1. ®—¥°“√∫√‘…—∑„À⇪ìπ‰ªµ“¡°ÆÀ¡“¬ «—µ∂ÿª√– ß§å ·≈–¢âÕ∫—ߧ—∫¢Õß∫√‘…∑— µ≈Õ¥®π¡µ‘¢Õß∑’ªË √–™ÿ¡ºŸ∂â Õ◊ Àÿπâ ∑’™Ë Õ∫ ¥â«¬°ÆÀ¡“¬ 2. °”Àπ¥∑‘»∑“ß„π°“√¥”‡π‘π∏ÿ√°‘®¢Õß∫√‘…—∑ ·≈– §«∫§ÿ¡µ‘¥µ“¡°“√¥”‡π‘πß“π¢Õß∫√‘…—∑„Àâ∂Ÿ°µâÕßµ“¡°Æ √–‡∫’¬∫¢âÕ∫—ߧ—∫¢ÕßÀπ૬√“™°“√∑’ˇ°’ˬ«¢âÕß ¡’°“√‡ªî¥‡º¬ ¢âÕ¡Ÿ≈Õ¬à“߇撬ßæÕ„Àâ°—∫ºŸâ∂◊ÕÀÿâπ·≈–ºŸâ∑’ˇ°’ˬ«¢âÕß∑ÿ°ΩÉ“¬ ·≈–„Àâ¡’°“√∫√‘À“√ß“πÕ¬à“ß‚ª√àß„  √«¡∑—Èß„À⇰‘¥ª√–‚¬™πå  Ÿß ÿ¥µàÕºŸâ∂◊ÕÀÿâπ 3. °”Àπ¥‡ªÑ“À¡“¬ ·π«∑“ß π‚¬∫“¬ ·ºπß“π ·≈–ß∫ª√–¡“≥¢Õß∫√‘…—∑ §«∫§ÿ¡ °”°—∫¥Ÿ·≈°“√∫√‘À“√ °“√®—¥°“√„À⇪ìπ‰ªµ“¡π‚¬∫“¬∑’‰Ë ¥â√∫— ¡Õ∫À¡“¬ ‡«âπ·µà‡√◊ÕË ß ´÷Ëß°√√¡°“√µâÕ߉¥â√—∫Õπÿ¡—µ‘®“°∑’˪√–™ÿ¡ºŸâ∂◊ÕÀÿâπ°àÕπ°“√ ¥”‡π‘πß“π ‰¥â·°à‡√◊ËÕß∑’Ë°ÆÀ¡“¬°”Àπ¥„ÀâµâÕ߉¥â√—∫¡µ‘¢Õß ∑’˪√–™ÿ¡ºŸâ∂◊ÕÀÿâπ °“√·°â‰¢À√◊Õ‡≈‘° —≠≠“‡°’ˬ«°—∫°“√„Àâ‡™à“ °‘®°“√¢Õß∫√‘…∑— ∑—ßÈ À¡¥À√◊Õ∫“ß à«π∑’ Ë ”§—≠°“√¡Õ∫À¡“¬„Àâ

The authorized director of the Company is Mr.Songkran Issara sign with Companyûs seal affixed. Responsibilities of the Board of Directors 1. Manage the company in compliance with the objectives, rules and regulations as well as shareholdersû app 2. Determine the companyûs direction and control all business operations in accordance with the related government entityûs rules and regulations. Assuring the disclosure of information to shareholders and related entity as well as perform transparency management to achieve company optimal benefit. 3. Determine goals, policies, and financial projection as well as perform good corporate governance in order to achieve the companyûs policy except for assignments that required shareholdersû consent before execution. Such assignments includes assignments that required shareholdersû consent by ANNUAL REPORT

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∫ÿ§§≈Õ◊Ëπ‡¢â“®—¥°“√∏ÿ√°‘®¢Õß∫√‘…—∑ °“√·°â ‰ ¢Àπ— ß  ◊ Õ ∫√‘§≥Àå π∏‘À√◊Õ¢âÕ∫—ߧ—∫ °“√§«∫À√◊Õ‡≈‘°∫√‘…—∑ °“√®à“¬ §à“µÕ∫·∑π·≈–∫”‡ÀπÁ®°√√¡°“√ ‡ªìπµâπ 4. §≥–°√√¡°“√∫√‘…—∑Õ“®·µàßµ—Èß°√√¡°“√®”π«π Àπ÷Ëßµ“¡∑’ˇÀÁπ ¡§«√„À⇪ìπ§≥–°√√¡°“√∫√‘À“√ ‡æ◊ËÕ ªØ‘∫µ— ß‘ “πµ“¡∑’‰Ë ¥â√∫— ¡Õ∫À¡“¬®“°§≥–°√√¡°“√∫√‘À“√ ‡æ◊ÕË ªØ‘∫—µ‘ß“πµ“¡∑’ˉ¥â√—∫¡Õ∫À¡“¬®“°§≥–°√√¡°“√∫√‘…—∑ ·≈–„Àâ§≥–°√√¡°“√∫√‘…—∑µ—Èß°√√¡°“√∫√‘À“√§πÀπ÷Ë߇ªìπ ª√–∏“π°√√¡°“√∫√‘À“√ 5. §≥–°√√¡°“√∫√‘…—∑Õ“®·µàßµ—Èß°√√¡°“√ºŸâ®—¥°“√ À√◊Õ¡Õ∫Õ”π“®„Àâ∫ÿ§§≈Õ◊Ëπ„¥„À⥔‡π‘π°‘®°“√¢Õß∫√‘…—∑ ¿“¬„µâ°“√§«∫§ÿ¡¢Õߧ≥–°√√¡°“√ ‚¥¬°“√¡Õ∫Õ”π“® ¥—ß°≈à“«µâÕ߇ªìπ‰ªµ“¡¡µ‘¢Õß∑’˪√–™ÿ¡§≥–°√√¡°“√∫√‘…—∑ ∑’Ë¡’°√√¡°“√Õ‘ √–À√◊Õ°√√¡°“√∑’ˇªìπ°√√¡°“√µ√«® Õ∫ ‡¢â“√à«¡ª√–™ÿ¡ ·≈–À“°°√√¡°“√Õ‘ √–À√◊Õ°√√¡°“√∑’ˇªìπ °√√¡°“√µ√«® Õ∫§—¥§â“π°“√¡Õ∫Õ”π“®π—πÈ µâÕß∫—π∑÷°§«“¡ ‡ÀÁπ¢Õß°√√¡°“√¥—ß°≈à“«„π√“¬ß“π°“√ª√–™ÿ¡„À♥— ‡®π ∑—ßÈ π’È °“√¡Õ∫Õ”π“®¥—ß°≈à“«®–µâÕß°”Àπ¥¢Õ∫‡¢µÕ”π“®Àπâ“∑’Ë ·≈–§«“¡√—∫º‘¥™Õ∫¢ÕߺŸâ√—∫¡Õ∫Õ”π“®‰«âÕ¬à“ß™—¥‡®π ·≈– µâÕ߉¡à¡’≈—°…≥–‡ªìπ°“√¡Õ∫Õ”π“®∑’Ë∑”„À⺟â√—∫¡Õ∫Õ”π“®  “¡“√∂Õπÿ¡—µ‘√“¬°“√∑’˵πÀ√◊Õ∫ÿ§§≈∑’ËÕ“®¡’§«“¡¢—¥·¬âß¡’  à«π‰¥â‡ ’¬ À√◊ÕÕ“®¡’§«“¡¢—¥·¬âß∑“ߺ≈ª√–‚¬™πå„π ≈—°…≥–Õ◊Ëπ„¥°—∫∫√‘…—∑À√◊Õ∫√‘…—∑¬àÕ¬ 6. æ‘®“√≥“Õπÿ¡—µ‘„π°“√π” ‘π∑√—æ¬å À√◊Õ∑√—æ¬å ‘π ¢Õß∫√‘…∑— À√◊Õ∫√‘…∑— „π‡§√◊Õ‰ª ‡ªìπª√–°—π À√◊Õ‡¢â“§È”ª√–°—π „¥ Ê ∑’Ë°àÕ„À⇰‘¥¿“√–ºŸ°æ—π·°à∫√‘…—∑ 7. æ‘®“√≥“Õπÿ¡—µ‘°“√≈ß∑ÿπ„π°“√¢¬“¬∏ÿ√°‘® µ≈Õ¥ ®π°“√‡¢â“√à«¡∑ÿπ°—∫ºŸâª√–°Õ∫°‘®°“√Õ◊πË Ê æ‘®“√≥“Õπÿ¡µ— ‘ °“√¡Õ∫Õ”π“®¿“¬„π∫√‘…∑—

the law or nay change or void of any agreement relating to companyûs rental services or any allocation of tasks to other persons to manage the company, any change in the Article of Memorandum and the Article of Association, merger and acquisition, and change in the rewarding system. 4. The Board of Directors may nominate a group of management to perform any task assigned by the Board of Directors as well as appoint a managing director. 5. The Board of Directors may establish a management team or delegate control to other persons to manage the company under the Board of Directorsû supervision. However, the control delegation could only be executed with shareholdersûapproval from the shareholdersû meeting attended by the audit committee and any objection from the audit committee must be noted in the meeting report. The delegation must be accompanied by responsibilities and limitation of the control and must not be delegated to the persons who would lead to confliction is sues with the company and its subsidiary. 6. Consider the approval of company and its subsidiaryûs assets as assurance or guarantee. 7. Consider the approval of company investment as well as joint venture in expanding its business.

Audit Committee The Audit Committee consisted of 3 independent directors as follows:§≥–°√√¡°“√µ√«® Õ∫ 1. Mr.Phisud Dejakaisaya Chairman of §≥–°√√¡°“√µ√«® Õ∫ ª√–°Õ∫¥â«¬°√√¡°“√Õ‘ √– 3 ∑à“π §◊Õ Audit Committee 1. π“¬æ‘ ÿ∑∏‘Ï ‡¥™–‰°»¬–ª√–∏“π§≥–°√√¡°“√µ√«® Õ∫ 2. Mr.Witit Ratchatatanun Audit Committee 2. 𓬫‘∑‘µ √—™™µ“µ–π—π∑å °√√¡°“√µ√«® Õ∫ 3. Mr.Pinit Puapan Audit Committee

3. π“¬æ‘π‘® æ—«æ—π∏å

°√√¡°“√µ√«® Õ∫

The Companyûs Audit Committee has the §≥–°√√¡°“√µ√«® Õ∫¢Õß∫√‘…—∑ ¡’¢Õ∫‡¢µ Àπâ“∑’Ë following responsibilities and duties to report to the


·≈–§«“¡√—∫º‘¥™Õ∫·≈–√“¬ß“πµàÕ§≥–°√√¡°“√∫√‘…∑— ¥—ßπ’È 1.  Õ∫∑“π„Àâ∫√‘…∑— ¡’√“¬ß“π∑“ß°“√‡ß‘πÕ¬à“ß∂Ÿ°µâÕß ·≈–‡ªî¥‡º¬Õ¬à“߇撬ßæÕ 2.  Õ∫∑“π„Àâ∫√‘…—∑¡’√–∫∫°“√§«∫§ÿ¡¿“¬„π·≈– °“√µ√«® Õ∫¿“¬„π∑’Ë¡’§«“¡‡À¡“– ¡·≈–¡’ª√– ‘∑∏‘º≈ 3.  Õ∫∑“π°“√ªØ‘∫—µ‘ß“π¢Õß∫√‘…—∑„À⇪ìπ‰ªµ“¡ °ÆÀ¡“¬«à“¥â«¬À≈—°∑√—æ¬å·≈–µ≈“¥À≈—°∑√—æ¬å ·≈–°ÆÀ¡“¬∑’Ë ‡°’ˬ«¢âÕß°—∫∏ÿ√°‘®¢Õß∫√‘…—∑ 4. æ‘®“√≥“§—¥‡≈◊Õ°·≈–‡ πÕ·µàßµ—ÈߺŸâ Õ∫∫—≠™’¢Õß ∫√‘…—∑ √«¡∂÷ßæ‘®“√≥“‡ πÕ§à“µÕ∫·∑π¢ÕߺŸâ Õ∫∫—≠™’ 5. æ‘®“√≥“°“√‡ªî¥‡º¬¢âÕ¡Ÿ≈¢Õß∫√‘…—∑„π°√≥’∑’ˇ°‘¥ √“¬°“√‡°’ˬ«‚¬ßÀ√◊Õ√“¬°“√∑’ËÕ“®¡’§«“¡¢—¥·¬âß∑“ߺ≈ ª√–‚¬™πå„Àâ¡’§«“¡∂Ÿ°µâÕß·≈–§√∫∂â«π 6. ªÆ‘∫—µ‘°“√Õ◊Ëπ„¥µ“¡∑’˧≥–°√√¡°“√∫√‘…—∑¡Õ∫ À¡“¬ ·≈–§≥–°√√¡°“√µ√«® Õ∫‡ÀÁπ™Õ∫¥â«¬ 7. ®—¥∑”√“¬ß“π°‘®°√√¡¢Õߧ≥–°√√¡°“√µ√«® Õ∫ ‚¥¬‡ªî¥‡º¬‰«â„π√“¬ß“πª√–®”ªï¢Õß∫√‘…∑— ´÷ßË √“¬ß“π¥—ß°≈à“« ≈ßπ“¡‚¥¬ª√–∏“π°√√¡°“√µ√«® Õ∫ ºŸâ∫√‘À“√ ∫√‘…—∑¡’ºŸâ∫√‘À“√∑—ÈßÀ¡¥ 5 ∑à“π ª√–°Õ∫¥â«¬ * π“¬ ß°√“πµå Õ‘  √– °√√¡°“√ºŸâ®—¥°“√ * π“ß∏’√“¿√≥å »√’‡®√‘≠«ß»å ºŸâ®—¥°“√ΩÉ“¬æ—≤𓂧√ß°“√ * 𓬫’√™—¬ «‘®‘µ√∏π“°ÿ≈ ºŸâ®—¥°“√ΩÉ“¬∫—≠™’·≈–°“√‡ß‘π * π“ß«‘¡≈«√√≥ ‡π◊ÕßπÕß ºŸâ®—¥°“√ΩÉ“¬∫ÿ§§≈·≈–∏ÿ√°“√ * π“ߪÕß ¡ ‡√◊Õß «— ¥‘Ïæß»å ºŸâ®—¥°“√ΩÉ“¬°“√µ≈“¥·≈–≈Ÿ°§â“ —¡æ—π∏å

board of directors: 1. Monitor to ensure accuracy and adequate disclosure of the Companyûs financial statements. 2. Monitor to ensure appropriateness and effectiveness of the Companyûs internal control and audit systems. 3. Monitor the operations of the Company to ensure they are in compliance with the laws on securities and stock exchange. 4. Propose the appointments of the Companyûs auditors and their remuneration. 5. Determine proper and complete disclosure of the Companyûs information in cases of connected transactions or lists with potential conflicts of interests. 6. Perform other duties as assigned by the board of directors and approved by the Audit Committee. 7. Make reports on the activities of the Audit Committee to be included in the companyûs annual reports. The reports must be signed by the chairman of the Audit Committee. Management Team The management team consisted of 5 persons as follow:* Mr.Songkran Issara Managing Director * Mrs. Teeraporn Srijaroenwong Project Development Manager * Mr. Weerachai Wijittanakul Accounting and Finance Manager * Mrs.Vimolwan Neugnong Administration and Personnel Manager * Mrs.Pongsom Ruangswadipong Marketing and Customer Relation Manager

¢Õ∫‡¢µÕ”π“®Àπâ“∑’Ë°√√¡°“√ºŸâ®—¥°“√ 1. ‡ªìπª√–∏“π¢ÕߺŸâ∫√‘À“√∑—Èߪ«ß 2. æ‘®“√≥“Õπÿ¡µ— „‘ π·ºπªØ‘∫µ— °‘ “√¢Õß·µà≈–ΩÉ“¬ß“π Responsibilities of the Managing Director 3. µ‘¥µ“¡·≈–¥”‡π‘πß“π„À⇪ìπ‰ªµ“¡·ºπß“π ·≈– 1. To be a chairman of all managers. π‚¬∫“¬∑’°Ë ”Àπ¥

2. To approve all operation plan of every ANNUAL REPORT

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20 ::: √“¬ß“πª√–®”ªï

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4. æ‘®“√≥“Õπÿ¡—µ‘§”¢Õ®“°ΩÉ“¬ß“πµà“ß Ê ∑’ˇ°‘π®“° Õ”π“®°“√ —Ëß°“√¢ÕßΩÉ“¬ß“ππ—Èπ Ê 5. æ‘®“√≥“·ºπ°“√≈ß∑ÿπ¢¬“¬ß“π À√◊Õ∑”∏ÿ√°‘®„À¡à „π¢—Èπµâπ°àÕπ‡ πÕ§≥–°√√¡°“√∫√‘…—∑‡æ◊ËÕÕπÿ¡—µ‘ 6. æ‘®“√≥“Õπÿ¡—µ‘°“√„™â®à“¬«ß‡ß‘πß∫ª√–¡“≥√“¬®à“¬ ª√–®”ªï ·≈–«ß‡ß‘π√“¬®à“¬πÕ°ß∫ª√–¡“≥ 7. √à«¡°—∫ºŸâ∫√‘À“√¢Õß∫√‘…—∑„π°“√®—¥ √√‡ß‘π∫”‡ÀπÁ® √“ß«—≈´÷Ë߉¥â√—∫°“√Õπÿ¡—µ‘®“°§≥–°√√¡°“√∫√‘…—∑ 8. æ‘®“√≥“§«“¡¥’§«“¡™Õ∫ ·µàßµ—Èß ‚¬°¬â“¬ ≈ß‚∑… ‡≈‘°®â“ß À√◊Õ®—¥®â“߇®â“Àπâ“∑’Ë∫√‘À“√ 9. ¡’Õ”π“®„π°“√¡Õ∫À¡“¬„Àâ∫§ÿ §≈Õ◊πË °√–∑”°“√·∑π‰¥â ‡¡◊ËÕ‰¡à “¡“√∂∑”‰¥â‡ªìπ°“√™—Ë«§√“«√«¡∂÷ß¡’Õ”π“®„π°“√¡Õ∫ À¡“¬„Àâ∫ÿ§§≈Õ◊Ëπ°√–∑”°“√·∑π‰¥âµ“¡¥ÿ≈¬æ‘π‘® 10. *Õ”π“®Õπÿ¡µ— µ‘ “à ß Ê ∑’°Ë ≈à“«¡“ ¬°‡«âπ°“√¡Õ∫Õ”π“® ¥”‡π‘π°“√Õπÿ¡—µ‘‡°’ˬ«°—∫√“¬°“√√–À«à“ß°—𠵓¡π‘¬“¡¢Õß  ”π—°ß“π§≥–°√√¡°“√°”°—∫À≈—°∑√—æ¬å·≈–µ≈“¥À≈—°∑√—æ¬å (°.≈.µ.) À¡“¬‡Àµÿ : Õ”π“®¥—ß°≈à“«‰¡à¡≈’ °— …≥–‡ªìπ°“√¡Õ∫Õ”π“®∑’∑Ë ”„Àâ ºŸâ√—∫¡Õ∫Õ”π“® “¡“√∂Õπÿ¡—µ‘ √“¬°“√∑’˵πÀ√◊Õ∫ÿ§§≈∑’ËÕ“®¡’ §«“¡¢—¥·¬âß¡’ «à π‰¥â‡ ’¬À√◊ÕÕ“®¡’§«“¡¢—¥·¬âß∑“ߺ≈ª√–‚¬™πå„π ≈—°…≥–Õ◊Ëπ„¥°—∫∫√‘…—∑À√◊Õ∫√‘…—∑¬àÕ¬ °“√ √√À“°√√¡°“√ °“√§—¥‡≈◊Õ°∫ÿ§§≈∑’®Ë –·µàßµ—ßÈ ‡ªìπ°√√¡°“√¢Õß∫√‘…∑— ‰¡à ‰¥âº“à π¢—πÈ µÕπ¢Õߧ≥–°√√¡°“√ √√À“ (Nominating Committee) Õ¬à“߉√°Áµ“¡ ∫√‘…—∑ ‰¥â°”Àπ¥·π«∑“ß„π°“√·µàßµ—Èß °√√¡°“√∫√‘…—∑ ¥—ßπ’È 1. °√√¡°“√¢Õß∫√‘…—∑µâÕߪؑ∫—µ‘Àπâ“∑’Ë„À⇪ìπ‰ªµ“¡ °ÆÀ¡“¬ «—µ∂ÿª√– ß§å ·≈– ¢âÕ∫—ߧ—∫¢Õß∫√‘…∑— µ≈Õ¥®π¡µ‘¢Õß∑’Ë ª√–™ÿ¡ºŸâ∂◊ÕÀÿâπ 2. „π°“√ª√–™ÿ¡ “¡—≠ª√–®”ªï∑ÿ°§√—Èß „Àâ°√√¡°“√ ÕÕ°®“°µ”·Àπà ß ®”π«πÀπ÷Ë ß „π “¡‡ªì π Õ— µ √“ ∂â “ ®”π«π °√√¡°“√∑’Ë®–·∫àßÕÕ°„Àâµ√߇ªìπ “¡ à«π‰¡à‰¥â °Á „ÀâÕÕ°‚¥¬ ®”π«π„°≈â∑’Ë ÿ¥°—∫ à«πÀπ÷Ëß„π “¡ 3. „π°√≥’∑’Ë°“√ª√–™ÿ¡ºŸâ∂◊ÕÀÿâπ¡’¡µ‘ „Àâ°√√¡°“√§π„¥ §πÀπ÷ËßÕÕ°®“°µ”·Àπàß°àÕπ∂÷ß°”À𥵓¡«“√–¥â«¬§–·ππ ‡ ’¬ß‰¡àπÕâ ¬°«à“ “¡„π ’¢Ë Õß®”π«πºŸ∂â Õ◊ Àÿπâ ´÷ßË ¡“ª√–™ÿ¡·≈–¡’ ∑‘ ∏‘ ÕÕ°‡ ’¬ß·≈–¡’Àπÿâ π—∫√«¡°—π‰¥â‰¡àπÕâ ¬°«à“°÷ßË Àπ÷ßË ¢Õß®”π«πÀÿπâ ∑’Ë ∂◊Õ‚¥¬ºŸâ∂◊ÕÀÿâπ∑’Ë¡“ª√–™ÿ¡·≈–¡’ ‘∑∏‘ÕÕ°‡ ’¬ß 4.ºŸ∂â Õ◊ Àÿπâ §πÀπ÷ßË ¡’§–·ππ‡ ’¬ß‡∑à“°—∫Àπ÷ßË Àÿπâ µàÕÀπ÷ßË ‡ ’¬ß

department. 3. Follow up the operation to conform the plan and assigned policy. 4. To approve any request from every department which over power of them. 5. To approve investing plan or new business before submitting to the board for approval. 6. To approve annual expense budget and over limit from budget. 7. To participate with another manager to divide reward which to be approved from board of directors. 8. To consider merit, appointing, transferring, punishment, discharging or recruiting managers. 9. Have power to assign to any body as a temporary representative when can not work together with the power to assign to another person to do as per consideration. 10. The power to authorize for the above mention except the approval of connection transaction as per definition of the office of the securities and exchange commission. (S.E.C.). Remark : The aforementioned power assign to the representative can not approve the connected transaction which may have conflict of interest with the company or its subsidiaries. Selection of Directors A selection of persons to be appointed as directors of the Company does not involve the process of nominating committee whatever. Nevertheless, the Company has laid down guidelines on the appointment of board of directors as follow:1. Board Directors shall carry out their duties according to the lows, the objectives and the Articles of Association of the Company, including the resolutions of the meeting of shareholders. 2. At every general shareholders meeting, one third of the directors shall vacate their office. In case the number of outgoing directors cannot be divisible by three, the number closest to one-third shall apply.


3. In case the general shareholders meeting passes 5. ºŸ∂â Õ◊ Àÿπâ ·µà≈–§π®–µâÕß„™â§–·ππ‡ ’¬ß∑’¡Ë Õ’ ¬Ÿ∑à ß—È À¡¥ µ“¡ (4) ‡≈◊Õ°µ—ßÈ ∫ÿ§§≈§π‡¥’¬«À√◊ÕÀ≈“¬§π‡ªìπ°√√¡°“√°Á‰¥â ·µà®–·∫àß a resolution that any director be vacated from office before completing his term, there must be votes of not §–·ππ‡ ’¬ß„Àⷰຟ℥¡“°πâÕ¬‡æ’¬ß„¥‰¡à‰¥â less than three-fourths of the number of shareholders with the right to vote and attending the meeting and whose shares altogether are not less than one-half of the number of shares held by shareholders attending the meeting and have the right to vote. 4. One shareholder is entitled to one vote per one share. 5. Each shareholder must use all of his votes under (4) to vote for the election of one or more persons to be directors. However, he may not cast votes for any candidate more than the other candidates he has voted for. §à“µÕ∫·∑πºŸâ∫√‘À“√ §à“µÕ∫·∑π‡ªìπµ—«‡ß‘π (1) °√√¡°“√ ∑’Ë No. 1 2 3 4 5 6 7 8 9 10

™◊ËÕ  °ÿ≈ Name 𓬙“≠ Õ‘  √– Mr.Charn Issara π“¬ ß°√“πµå Õ‘  √– Mr.Songkran Issara π“ß≈‘𥓠ª√–‡ √‘∞ ¡ Mrs.Linda Prasertsom π“ß∏’√“¿√≥å »√’‡®√‘≠«ß»å Mrs.Teeraporn Srijaroenwong 𓬪√–‡«»«ÿ≤‘ ‰√«“ Mr.Pravesvudhi Raiva π“ß«“ π“ ¡‚π¡—¬æ‘∫Ÿ≈¬ Mrs.Wasana Manomaiphibul π“¬π‘µ‘ ‚Õ ∂“πÿ‡§√“–Àå Mr.Niti Osathanugrah π“¬æ‘ ÿ∑∏‘Ï ‡¥™–‰°»¬– Mr.Phisud Dajakaisaya π“¬æ‘π‘® æ—«æ—π∏å Mr.Pinit Puapan 𓬫‘∑‘µ √—™™µ“µ–π—π∑å Mr.Witit Ratchatatanun

Remuneration of the Executives Financial Remuneration (1) Directors µ”·Àπàß Position ª√–∏“π°√√¡°“√ Chairman °√√¡°“√ Managing Director °√√¡°“√ Director °√√¡°“√ Director °√√¡°“√ Director °√√¡°“√ Director °√√¡°“√ Director ª√–∏“π°√√¡°“√µ√«® Õ∫/°√√¡°“√Õ‘ √– Chairman of Audit Committee/Independent Director °√√¡°“√Õ‘ √–/µ√«® Õ∫ Independent Directors and Audit Committee °√√¡°“√Õ‘ √–/µ√«® Õ∫ Independent Directors and Audit Committee

‡∫’Ȭª√–™ÿ¡ Amount 120,000.00 60,000.00 60,000.00 60,000.00 60,000.00 10,000.00 50,000.00 90,000.00 75,000.00 70,000.00 655,000.00

À¡“¬‡Àµÿ : π“ß«“ π“ ¡‚π¡—¬æ‘∫Ÿ≈¬å ≈“ÕÕ°®“°°“√‡ªìπ°√√¡°“√ ·≈–·µàßµ—Èßπ“¬π‘µ‘ ‚Õ ∂“πÿ‡§√“–Àå ‡ªìπ°√√¡°“√·∑π Remark : Mrs. Vassana Manomaipiboon has resigned from director in February 2004 Mr. Niti Osathanukrah has been appointed to be director in March 2004 ANNUAL REPORT

2004 ::: 21


22 ::: √“¬ß“πª√–®”ªï

2547

(2) Executives

(2) ºŸâ∫√‘À“√

ª√–‡¿∑§à“µÕ∫·∑π ‡ß‘π‡¥◊Õπ ‚∫π—  √«¡

(Àπ૬ : ∫“∑) 31 ∏—𫓧¡ 2547 ®”π«π ®”π«π‡ß‘π (√“¬) (∫“∑) 5 6,092,450 5 856,960 6,949,410

Remuneration Salaries Bonuses Total

(Unit : Baht) 31st December 2004 Amount Number (Baht) (Person) 6,092,450 5 856,960 5 6,949,410

°“√°”°—∫¥Ÿ·≈°‘®°“√ §≥–°√√¡°“√∫√‘…—∑ ‰¥â√à«¡°—π°”Àπ¥·π«∑“ß°“√ °”°—∫¥Ÿ·≈°‘®°“√¢Õß∫√‘…—∑ ´÷Ë߇ªìπ‰ªµ“¡¢âÕæ÷ߪؑ∫—µ‘∑’Ë¡’ µ“¡·π«∑“ߢÕßµ≈“¥À≈—°∑√—æ¬å·≈–°√√¡°“√¢Õß∫√‘…—∑ ´÷Ëß ®– “¡“√∂ √ÿª‰¥â¥—ßπ’È

Supervision The Board of Directors has outlined the Companyûs management and controls in accordance with directions prescribed by the Stock Exchange of Thailand which may be summarized as follow:-

1. π‚¬∫“¬‡°’ˬ«°—∫°“√°”°—∫¥Ÿ·≈°‘®°“√ §≥–°√√¡°“√¢Õß∫√‘…∑— ‰¥âµ√–Àπ—°∂÷ߧ«“¡ ”§—≠¢Õß π‚¬∫“¬‡°’ˬ«°—∫°“√°”°—∫¥Ÿ·≈°‘®°“√∑’Ë¥’‚¥¬„À⧫“¡ ”§—≠ „π‡√◊ÕË ß§«“¡‚ª√àß„ „π°“√¥”‡π‘π°‘®°“√ “¡“√∂µ√«® Õ∫‰¥â ¡’ °“√‡ªî¥‡º¬¢âÕ¡Ÿ≈„Àâ°—∫ “∏“√≥–·≈–ºŸâ∂◊ÕÀÿâπÕ¬à“ß ¡Ë”‡ ¡Õ πÕ°®“°π’È∫√‘…—∑¬—ß„À⧫“¡ ”§—≠µàÕ√–∫∫°“√§«∫§ÿ¡·≈– °“√µ√«® Õ∫¿“¬„π  à « π°“√∫√‘ À “√§«“¡‡ ’Ë ¬ ß∫√‘ …— ∑ 欓¬“¡§«∫§ÿ¡·≈–∫√‘À“√§«“¡‡ ’ˬßÕ¬à“ß„°≈♑¥·≈–¬—ß §”π÷ß∂÷߇√◊ËÕß®√‘¬∏√√¡„π°“√¥”‡π‘π∏ÿ√°‘® ‚¥¬¥”√߉«â´÷Ëß §«“¡‡ªìπ∏√√¡µàÕ §Ÿ§à “â , ºŸ∂â Õ◊ Àÿπâ ·≈–ºŸ¡â  ’ «à π‰¥â‡ ’¬∑ÿ° Ê °≈ÿ¡à ∫√‘…∑— ®÷߉¥â°”Àπ¥π‚¬∫“¬‡°’¬Ë «°—∫°“√°”°—∫¥Ÿ·≈°‘®°“√‡æ◊ÕË ‡ªìπ ·π«∑“ߪؑ∫—µ‘¥—ßπ’È 1. ∫√‘…—∑®–ªØ‘∫—µ‘µàÕºŸâ∂◊ÕÀÿâπ·≈–ºŸâ¡’ à«π‰¥â‡ ’¬∑ÿ° ΩÉ“¬Õ¬à“߇∑à“‡∑’¬¡°—π·≈–‡ªìπ∏√√¡ 2. ∫√‘…∑— ®–¥”‡π‘πß“π¥â«¬§«“¡‚ª√àß„   “¡“√∂µ√«® Õ∫ ‰¥â ·≈–‡ªî¥‡º¬¢âÕ¡Ÿ≈Õ¬à“߇撬ßæÕ·°àº∑Ÿâ ‡’Ë °’¬Ë «¢âÕß∑ÿ°ΩÉ“¬ 3. ∫√‘…—∑®–§”π÷ß∂÷ߧ«“¡‡ ’ˬ߄π°“√¥”‡π‘π∏ÿ√°‘®Õ¬Ÿà ‡ ¡Õ ‚¥¬¡’°“√§«∫§ÿ¡·≈–¡’°“√∫√‘À“√§«“¡‡ ’ˬßÕ¬à“ß ‡À¡“– ¡ 4. §≥–°√√¡°“√∫√‘…—∑®–µâÕß¡’°“√ª√–™ÿ¡Õ¬à“ß  ¡Ë”‡ ¡Õ‡ªìπª√–®”Õ¬à“ßπâÕ¬∑ÿ° “¡‡¥◊Õπ ·≈–¡’°“√ª√–™ÿ¡ 摇»…‡æ‘Ë¡‡µ‘¡µ“¡§«“¡®”‡ªìπ ‚¥¬¡’°“√°”Àπ¥°“√ª√–™ÿ¡ ≈à « ßÀπâ “ ¡’ ° “√°”À𥫓√–°“√ª√–™ÿ ¡ ∑’Ë ™— ¥ ‡®π·≈– à ß ‡Õ° “√ª√–°Õ∫°“√ª√–™ÿ¡≈à«ßÀπâ“ ‡æ◊ËÕ„Àâ§≥–°√√¡°“√‰¥â ¡’‡«≈“»÷°…“¢âÕ¡Ÿ≈Õ¬à“߇撬ßæÕ°àÕπ°“√‡¢â“√à«¡ª√–™ÿ¡

1. Management Policy The Board of Directors has noted the important of good governance policy and passed a policy which emphasized on operational transparency and accountability. Regular disclosure to the public and shareholders has been adopted as general practice of the Company. In addition, the Company adopted a strict internal audit and controls in recognition to its important. On risk management, the Company has closely controlled and managed risk while keeping in mind a good relationship and business ethic towards business partners, shareholders and all concerned parties. The Company has, therefore, set a governing policy to guide the operation as follows:1. The Company will treat shareholders and all beneficial parties equally and fairly. 2. The Company will operate transparently, disclose adequate information to all concerned parties and ready to be audited. 3. The Company will always assess business risk by appropriate risk management. 4. The Company will arrange to have regular Board of Directors Meeting at least every three months and will arrange additional meeting session as necessary. There will be advance notice of Meeting


5. §≥–°√√¡°“√∫√‘…—∑®–æ‘®“√≥“§à“µÕ∫·∑π¢Õß §≥–°√√¡°“√ ‡æ◊ÕË „Àâ°“���°”Àπ¥§à“µÕ∫·∑π¢Õß°√√¡°“√‡ªìπ ‰ªÕ¬à“߇À¡“– ¡ ‚ª√àß„  ·≈–ªÑÕß°—π°“√¢—¥·¬âß∑“ߺ≈ ª√–‚¬™πå ‚¥¬°“√°”Àπ¥§à“µÕ∫·∑π„¥Ê¢Õß°√√¡°“√ „Àâ ‡ªìπ‰ªµ“¡¡µ‘∑’˪√–™ÿ¡ºŸâ∂◊ÕÀÿâπ 6. §≥–°√√¡°“√∫√‘…—∑®–¥Ÿ·≈„Àâ¡’·π«∑“߇°’ˬ«°—∫ ®√‘¬∏√√¡„π°“√¥”‡π‘π∏ÿ√°‘®¢Õß∫√‘…—∑ ¢âÕæ÷ߪؑ∫—µ‘∑’Ë¥’¢Õß °√√¡°“√ ·≈–æπ—°ß“π 7. §≥–°√√¡°“√∫√‘…—∑®–°”°—∫¥Ÿ·≈‡æ◊ËÕ„À⺟â≈ß∑ÿπ ¡—πË „®‰¥â«“à ∫√‘…∑— ‰¥â‡ªî¥‡º¬¢âÕ¡Ÿ≈ “√ π‡∑»∑’ Ë ”§—≠¢Õß∫√‘…∑— Õ¬à“ß∂Ÿ°µâÕß §√∫∂â«π·≈–∑—π‡«≈“

with precise agendas and related information for all Directors to study prior to the Meeting. 5. The Board of Directors will consider Directorsû remuneration for the approval of Shareholdersû meeting. This is to avoid conflict of interest and create transparency. 6. The Board of Directors will govern ethical business practice, good governance of Directors and staff. 7. The Board of Directors will ensure all investor that the company release sufficient necessary information on time.

2.  ‘∑∏‘·≈–§«“¡‡∑à“‡∑’¬¡°—π¢ÕߺŸâ∂◊ÕÀÿâπ ∫√‘…—∑„À⧫“¡ ”§—≠‡°’ˬ«°—∫ ‘∑∏‘¢ÕߺŸâ∂◊ÕÀÿâπ∑ÿ° Ê §πÕ¬à“߇∑à“‡∑’¬¡°—𠇙àπ ∫√‘…∑— ®–·®âß„Àâº∂Ÿâ Õ◊ Àÿπâ ∑√“∫∂÷ߧ«“¡ §◊∫Àπâ“¢Õß°“√¥”‡π‘πß“π¢Õß∫√‘…∑— Õ¬à“ß ¡Ë”‡ ¡Õ ‚¥¬·®âß „À⺟â∂◊ÕÀÿâπ∑√“∫‚¥¬µ√ß·≈–ºà“π∑“ßµ≈“¥À≈—°∑√—æ¬å·Ààß ª√–‡∑»‰∑¬ ‡π◊ËÕß®“°∫√‘…—∑§”π÷ß∂÷ߺŸâ∂◊ÕÀÿâπ∑ÿ°∑à“π ‰¡à«à“∑à“π®– ¡’ÀÿâπÕ¬ŸàπâÕ¬À√◊Õ¡“° ∫√‘…—∑∂◊Õ«à“∑à“π§◊Õ‡®â“¢Õß∫√‘…—∑ºŸâÀπ÷Ëß ©–π—πÈ ∫√‘…∑— ®–·®âß„Àâº∂Ÿâ Õ◊ Àÿπâ ∑√“∫≈à«ßÀπâ“°àÕπ«—πª√–™ÿ¡‡°‘π °«à“√–¬–‡«≈“∑’°Ë ”Àπ¥‰«âµ“¡°ÆÀ¡“¬ æ√âÕ¡√“¬≈–‡Õ’¬¥‡°’¬Ë « °—∫«“√–°“√ª√–™ÿ¡√«¡∑—ßÈ ¡’§«“¡‡ÀÁπ¢Õߧ≥–°√√¡°“√„π∑ÿ° «“√–·≈–„π°√≥’∑º’Ë ∂Ÿâ Õ◊ Àÿπâ ‰¡à “¡“√∂‡¢â“√à«¡ª√–™ÿ¡¥â«¬µπ‡Õß °Á “¡“√∂¡Õ∫©—π∑–„À⺟âÕ◊Ëπ‡¢â“√à«¡ª√–™ÿ¡‰¥â ·≈–∫√‘…—∑¬—ß „À⧫“¡ ”§—≠°—∫∑ÿ° Ê ‡√◊ËÕߢÕߺŸâ∂◊ÕÀÿâπ∑’ËÕÕ°§«“¡‡ÀÁπ

2. Shareholdersû Right The Company realized the important of equal right of all shareholders. We consider all shareholders as owner of the Company regardless of the percentage of shares. All shareholders either large or small are regarded as one of Companyûs owner which will be treated with due respect. The Company will send out notice of meeting well in advance of period stipulated by law with enclosures of detailed meeting agenda and respective Board of Directorûs resolutions. In the event that shareholders are unable to attend the meeting in person they can nominate proxies to attend on their behalf. The Company also treat all shareholdersû comment seriously.

3.  ‘∑∏‘¢ÕߺŸâ¡’ à«π‰¥â‡ ’¬ ∫√‘…—∑„À⧫“¡ ”§—≠°—∫ºŸâ¡’ à«π‰¥â‡ ’¬°≈ÿࡵà“ßÊ ∑ÿ° °≈ÿ¡à ‰¡à«“à ®–‡ªìπ ≈Ÿ°§â“ ‡®â“Àπ’È §Ÿ·à ¢àß µ≈Õ¥®πæπ—°ß“π·≈–ºŸâ ∫√‘À“√¢Õß∫√‘…∑— „À≥â√∫— §«“¡‡ªìπ∏√√¡Õ¬à“߇∑à“‡∑’¬¡°—𠇙àπ °“√®—¥À“º≈‘µ¿—≥±åµ“¡∑’Ë —≠≠“‰«â°—∫≈Ÿ°§â“ ¡’§«“¡√—∫º‘¥ ™Õ∫µàÕ≈Ÿ°§â“∑—Èß„π¥â“π§ÿ≥¿“æ¢Õߺ≈‘µ¿—≥±å ·≈–°“√„Àâ ∫√‘°“√À≈—ß°“√¢“¬ ·≈–√—°…“§«“¡≈—∫¢Õß≈Ÿ°§â“ ·≈–°“√ ªØ‘∫—µ‘µ“¡°µ‘°“°“√·¢àߢ—π∑’Ë¥’µàÕ§Ÿà·¢àߢ—𠇪ìπµâπ

3. Related Partyûs Right All related parties including but not limited to customer, business partners, creditors, employee and competitors will be treated fairly. For example, the Company will procure the right product as required by the customer. The customer will be looked after both for the quality of product and after sale services. Confidentiality of the customer will always be honored while competitors will be treated fairly under the ANNUAL REPORT

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4. °“√ª√–™ÿ¡ºŸâ∂◊ÕÀÿâπ ∫√‘…∑— ¡’π‚¬∫“¬„Àâ§≥–°√√¡°“√∑ÿ°∑à“π∑’ˉ¡àµ¥‘ ¿“√°‘® ‡¢â“√à«¡ª√–™ÿ¡·≈–„Àâº∂Ÿâ Õ◊ Àÿπâ  “¡“√∂‡¢â“√à«¡ª√–™ÿ¡‰¥â‚¥¬‰¡à¬ßÿà ¬“° ®—¥„Àâ¡’¢âÕ¡Ÿ≈‡æ’¬ßæÕ„π°“√æ‘®“√≥“ ‚¥¬¡’√–¬–‡«≈“ æÕ ¡§«√ ·≈–®—¥‡µ√’¬¡Àπ—ß ◊Õ¡Õ∫©—π∑– ”À√—∫ºŸâ∂◊ÕÀÿâπ∑’Ë ‰¡à “¡“√∂‡¢â“√à«¡ª√–™ÿ¡‰¥â¥â«¬µπ‡Õß ·≈–®—¥‡µ√’¬¡ ∂“π∑’Ë Ê ‡¥‘π∑“ß –¥«°µ≈Õ¥®π°”À𥇫≈“„π°“√ª√–™ÿ¡„Àâº∂Ÿâ Õ◊ Àÿπâ „Àâ¡’ ‚Õ°“  Õ∫∂“¡À√◊Õ· ¥ß§«“¡‡ÀÁπ‰¥âÕ¬à“߇µÁ¡∑’Ë

normal competition rules in the open market.

4. Shareholdersû Meeting The Company has a policy to enable shareholders to attend meeting without hassle. We provide sufficient information prior to the meeting as well as proxy form for those who are unable to attend the meeting by themselves and wish to appoint proxy. The Meeting venue and time will be convenient while the 5. ¿“«–ºŸâπ”·≈–«‘ —¬∑—»πå meeting session will allow adequate time for §≥–°√√¡°“√¢Õß∫√‘…∑— ¡’ «à π√à«¡„π°“√„À⧫“¡‡ÀÁπ™Õ∫ shareholders to ask questions or voice their opinions.

µàÕ «‘ ¬— ∑—»πå ‡ªÑ“À¡“¬ ¿“√°‘® ·≈–ß∫ª√–¡“≥¢Õß∫√‘…∑— ∑’πË ”‡ πÕ ‚¥¬ΩÉ“¬∫√‘À“√¢Õß∫√‘…∑— πÕ°®“°π’¬È ß— °”°—∫¥Ÿ·≈„ÀâΩ“É ¬®—¥°“√¥”‡π‘π ∏ÿ√°‘®„À⇪ìπ‰ªµ“¡ ·ºπß“π „Àâ∫√√≈ÿ‡ªÑ“À¡“¬∑’«Ë “߉«â §≥–°√√¡°“√¬—ߙ૬‡ πÕ·π–√–∫∫°“√§«∫§ÿ¡·≈– µ√«® Õ∫¿“¬„π µ≈Õ¥®π°“√∫√‘À“√§«“¡‡ ’¬Ë ß„Àâ∫√‘…∑— ‰¥â√∫— ª√–‚¬™πå Ÿß ÿ¥

5. Vision and Leadership The Board of Directors has taken part to approve vision, goal, mission and budget of the Company. In addition the Board of Directors has monitored the management in implementing business plan to achieve the set bottom line. 6. §«“¡¢—¥·¬âß∑“ߺ≈ª√–‚¬™πå The Board of Directors also advises on internal ∫√‘…∑— ¡’π‚¬∫“¬„π°“√¢®—¥§«“¡¢—¥·¬âß∑“ߺ≈ª√–‚¬™πå controls and audit including risk management to the ‚¥¬π”‡¢â“∑’˪√–™ÿ¡¢Õߧ≥–°√√¡°“√¢Õß∫√‘…—∑‡æ◊ËÕæ‘®“√≥“ best interest of the Company.

‚¥¬ºŸ¡â  ’ «à π‰¥â‡ ’¬®–ߥ°“√ÕÕ°‡ ’¬ß‡æ◊ÕË §«“¡‡ªìπ∏√√¡ ·≈–‡æ◊ÕË º≈ª√–‚¬™πå Ÿß ÿ¥¢Õß∫√‘…—∑ ∫√‘…—∑®–ªØ‘∫—µ‘µ“¡À≈—°‡°≥±å ¢Õßµ≈“¥À≈—°∑√—æ¬å ·≈–‡ªî¥‡º¬√“¬≈–‡Õ’¬¥ ¡Ÿ≈§à“√“¬°“√ §Ÿà  —≠≠“ ·≈–§«“¡®”‡ªìπ‰«â„π√“¬ß“πª√–®”ªï·≈–·∫∫ 56-1 ∑ÿ°§√—ßÈ  à«π°“√¥Ÿ·≈‡√◊ËÕß„™â¢âÕ¡Ÿ≈¿“¬„π ∫√‘…—∑¡’π‚¬∫“¬„À⺟â ∫√‘À“√ªØ‘∫—µ‘µ“¡¡“µ√“ 59 ·Ààßæ√–√“™∫—≠≠—µ‘À≈—°∑√—æ¬å ·≈–µ≈“¥À≈—°∑√—æ¬å æ.».2535 ·≈–Àâ“¡°“√„™â¢Õâ ¡Ÿ≈¿“¬„π ‡æ◊ÕË º≈ª√–‚¬™πå¢Õßµπ‡Õß 7. ®√‘¬∏√√¡∏ÿ√°‘® ·¡â∫√‘…∑— ®–‰¡à‰¥â®¥— ∑”¢âÕ°”Àπ¥À√◊հƇ°≥±å‡°’¬Ë «°—∫ ®√‘¬∏√√¡À√◊Õ®√√¬“∫√√≥¢Õß∫√‘…—∑ ‡ªìπ≈“¬≈—°…≥åÕ—°…√ ·µà §≥–°√√¡°“√·≈–ºŸâ∫√‘À“√¢Õß∫√‘…—∑‰¥â µ‘¥µàÕ ◊ËÕ “√°—∫ æπ—°ß“π∑ÿ°§π¢Õß∫√‘…∑— „ÀâªØ‘∫µ— À‘ πâ“∑’¥Ë «â ¬§«“¡´◊ÕË  —µ¬å ÿ®√‘µ ·≈–√—∫º‘¥™Õ∫µàÕºŸ¡â  ’ «à π‰¥â‡ ’¬ºŸ∂â Õ◊ Àÿπâ ·≈–∑ÿ°ΩÉ“¬∑’‡Ë °’¬Ë «¢âÕßÕ¬Ÿà µ≈Õ¥‡«≈“ ‡æ◊ËÕ‡ªìπ°“√ √â“ß«—≤π∏√√¡¢ÕßÕߧå°√„Àâ ”π÷°„𠧫“¡√—∫º‘¥™Õ∫µàÕ —ߧ¡‡ ¡Õ

6. Conflict of Interests The Company has a policy to eliminate conflict of interests. Board of Directors will manage the issue on the best interest of the Company according to guidelines provided by the Stock Exchange of Thailand. Those who has interest in the matter involve with conflict of interest will abstain from voting. Details of all transaction related to conflict of interests will be disclosed for its details and recorded its necessity in the annual report and form 56-1 On inside information, the Company has a policy to cause its management to follow Article 59 of the Royal Decree on Security and Stock Exchange B.E.2535 and restricted the use of inside information for individual interest.


8. °“√∂à«ß¥ÿ≈¢Õß°√√¡°“√∑’ˉ¡à‡ªìπºŸâ∫√‘À“√ §≥–°√√¡°“√∫√‘…—∑®”π«π 9 ∑à“π ª√–°Õ∫¥â«¬ - °√√¡°“√∑’ˇªìπºŸâ∫√‘À“√ 2 ∑à“π - °√√¡°“√∑’ˉ¡à‰¥â‡ªìπºŸâ∫√‘À“√ 4 ∑à“π - °√√¡°“√∑’ˇªìπÕ‘ √– 3 ∑à“π ¥—ßπ—Èπ °√√¡°“√Õ‘ √–§‘¥‡ªìπ 1 „π 3 ¢Õß°√√¡°“√ ∑—Èߧ≥–

7. Business Ethic Although the Company has not put down in writing rules and regulation on ethic and code of conducts but the Board of Directors has made it clear to all employee to follow carefully the ethical practice in doing business, honesty and accountability. Responsibility towards related parties and shareholders has always been emphasized to create a good corporate culture and social response.

9. °“√√«¡À√◊Õ·¬°µ”·Àπàß ª√–∏“π°√√¡°“√‰¡à‡ªìπ∫ÿ§§≈‡¥’¬«°—π°—∫ °√√¡°“√ºŸâ ®—¥°“√ ·µà∑—Èß Õß∑à“π‡ªìπµ—«·∑π®“°°≈ÿࡺŸâ∂◊ÕÀÿâπ„À≠à°≈ÿà¡ 8. The Balance of Non Executive Directors ‡¥’¬«°—π Õ¬à“߉√°Áµ“¡ ‚§√ß √â“ߧ≥–°√√¡°“√¢Õß∫√‘…—∑ The Companyûs 9 directors comprises of :ª√–°Õ∫‰ª¥â«¬°√√¡°“√∑’‡Ë ªìπÕ‘ √–®”π«π 1 „π 3 ¢Õß°√√¡°“√ - 2 Executive Directors ∑—ßÈ §≥– ´÷ßË ∑”„Àâ¡°’ “√∂à«ß¥ÿ≈·≈–°“√ Õ∫∑“π°“√∫√‘À“√ß“π‰¥â - 4 Non Executive Directors

- 3 Independent Directors 10. §à“µÕ∫·∑π°√√¡°“√·≈–ºŸâ∫√‘À“√ The independent Directors is therefore account §à“µÕ∫·∑π°√√¡°“√ : ‰¥â∂°Ÿ °”À𥉫âÕ¬à“ß™—¥‡®π·≈– for 1 in 3 of the total Board of Directors.

‚ª√àß„  ‚¥¬§”π÷ß∂÷ß¿“√–Àπâ“∑’Ë Ê ‰¥â√∫— ¡Õ∫À¡“¬ µ≈Õ¥®π §«“¡√—∫º‘¥™Õ∫ ·≈–‰¥â¢ÕÕπÿ¡µ— ®‘ “°∑’ªË √–™ÿ¡ºŸ∂â Õ◊ Àÿπâ ∑ÿ° Ê ªï §à“µÕ∫·∑πºŸ∫â √‘À“√ : §≥–°√√¡°“√∫√‘…∑— ‰¥â„Àâπ‚¬∫“¬ „π°“√°”Àπ¥§à“µÕ∫·∑π „Àâ·°àº∫Ÿâ √‘À“√‚¥¬§”π÷ß∂÷ß À≈—°§«“¡ ¬ÿµ‘∏√√¡ ·≈– Ÿß‡æ’¬ßæÕ∑’Ë®–¥÷ߥŸ¥·≈–√—°…“ºŸâ ∫ √‘ À “√∑’Ë ¡’ §ÿ≥ ¡∫—µ‘∑’˵âÕß°“√ ‚¥¬ “¡“√∂ √â“ß·√ß®Ÿß„®„Àâ¡’°“√ªØ‘∫—µ‘ ß“π∑’Ë¡’§ÿ≥¿“æ·≈–¡“µ√∞“π∑’Ë¥’ ∑—Èß§à“µÕ∫·∑π°√√¡°“√·≈–ºŸâ∫√‘À“√‰¥â‡ªî¥‡º¬‰«â·≈â« „π·∫∫ 56-1 11. °“√ª√–™ÿ¡§≥–°√√¡°“√ §≥–°√√¡°“√®–¡’µ“√“ß°”Àπ¥°“√ª√–™ÿ¡≈à«ßÀπâ“ µ≈Õ¥ªï ‚¥¬ª°µ‘®–ª√–™ÿ¡∑ÿ° Ê 3 ‡¥◊Õπ ·≈–¡’°“√ª√–™ÿ¡ 摇»…‡æ‘Ë¡µ“¡§«“¡®”‡ªìπ ‚¥¬®–¡’«“√–°”Àπ¥‰«â™—¥‡®π ≈à«ßÀπâ“ ‚¥¬ª√–∏“π°√√¡°“√À√◊Õ°√√¡°“√∑’˪√–∏“π¡Õ∫ À¡“¬®–¡’Àπ—ß ◊Õ‡™‘≠ª√–™ÿ¡ æ√âÕ¡√–‡∫’¬∫«“√–°“√ª√–™ÿ¡ ·≈–‡Õ° “√ª√–°Õ∫°“√æ‘®“√≥“  àß„Àâ≈«à ßÀπâ“Õ¬à“ßπâÕ¬ 7 «—π ‡æ◊ËÕ„Àâ°√√¡°“√‰¥â»÷°…“¢âÕ¡Ÿ≈°àÕπ‡¢â“√à«¡ª√–™ÿ¡ „πªï 2547 ¡’°“√ª√–™ÿ¡§≥–°√√¡°“√¢Õß∫√‘…∑— ®”π«π 7 §√—ßÈ ‚¥¬°“√‡¢â“√à«¡ª√–™ÿ¡¢Õߧ≥–°√√¡°“√∫√‘…∑— ·µà≈–∑à“π  √ÿª‰¥â ¥—ßπ’È

9. Combine or Separate Position Chairman of the Board of Directors is not the same person as Managing Directors but both of them are representative from the same group of major shareholders. However, structure of the Board of Directors consists of more than 1 in 3 of independent directors resulting in a fair balance of power and effective management monitoring. 10. Directorûs and Managementûs Remuneration Directorûs remuneration has been set up clearly bases on workload, assignments, and responsibility. Such remuneration will be approved by shareholdersû Meeting on an annual basis. Managementûs remuneration has been set up by the Board of Directors whose policy involve a fair treatment to qualified management required. The remuneration will be considerable enough to motivate qualified personnel for their efficiency and good ANNUAL REPORT

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√“¬™◊ËÕ°√√¡°“√

°“√‡¢â“√à«¡ª√–™ÿ¡ / °“√ª√–™ÿ¡∑—ÈßÀ¡¥ (§√—Èß) 1. 𓬙“≠ Õ‘  √– 5/7 2. π“¬ ß°√“πµå Õ‘  √– 7/7 3. 𓬪√–‡«»«ÿ≤‘ ‰√«“ 1/7 4. π“ß≈‘𥓠ª√–‡ √‘∞ ¡ 7/7 5. π“¬π‘µ‘ ‚Õ ∂“πÿ‡§√“–Àå * 3/7 6. π“ß∏’√“¿√≥å »√’‡®√‘≠«ß»å 7/7 7. π“¬æ‘ ÿ∑∏‘Ï ‡¥™–‰°»¬– 4/7 8. 𓬫‘∑‘µ √—™™µ“µ–π—π∑å 4/7 9. π“¬æ‘π‘® æ—«æ—π∏å 3/7 * ‰¥â√—∫°“√·µàßµ—È߇¡◊ËÕ 25 °ÿ¡¿“æ—π∏å 2547 12. §≥–Õπÿ°√√¡°“√ ªí®®ÿ∫π— ∫√‘…∑— ¡’‡©æ“–§≥–°√√¡°“√µ√«® Õ∫ ¡’«“√– °“√¥”√ßµ”·Àπàߧ√“«≈– 2 ªï ª√–°Õ∫¥â«¬°√√¡°“√∑’Ë ‡ªìπÕ‘  √–∑—Èß 3 ∑à“π ¥—ßπ’È 1.π“¬æ‘ ÿ∑∏‘Ï ‡¥™–‰°»¬– ª√–∏“π°√√¡°“√µ√«® Õ∫ 2.𓬫‘∑‘µ √—™™µ“µ–π—π∑å °√√¡°“√µ√«® Õ∫ 3.π“¬æ‘π‘® æ—«æ—π∏å °√√¡°“√µ√«® Õ∫ °√√¡°“√µ√«® Õ∫®–¡’°“√ª√–™ÿ¡·≈–√“¬ß“πµàÕ §≥–°√√¡°“√¢Õß∫√‘…—∑„π‡√◊ËÕßµàÕ‰ªπ’È -  Õ∫∑“π√“¬ß“π∑“ß°“√‡ß‘π¢Õß∫√‘…—∑°àÕπ‡ πÕ µàÕ§≥–°√√¡°“√ - ª√– “πß“π°—∫ΩÉ“¬µ√«® Õ∫¿“¬„π¢Õß∫√‘…—∑ °“√√“¬ß“πº≈°“√µ√«® Õ∫°“√ª√–‡¡‘πº≈¢Õß√–∫∫°“√ §«∫§ÿ¡¿“¬„π∫√‘…—∑ -  Õ∫∑“π·≈–æ‘®“√≥“√“¬°“√´÷ËßÕ“®¡’§«“¡¢—¥ ·¬âß°—π∑“ߺ≈ª√–‚¬™πå - æ‘®“√≥“√“¬°“√√–À«à“ß°—π 13. √–∫∫°“√§«∫§ÿ¡·≈–°“√µ√«® Õ∫¿“¬„π ∫√‘…—∑¡’ΩÉ“¬µ√«® Õ∫¿“¬„π ∑”Àπâ“∑’˵√«® Õ∫°“√ ªØ‘∫—µ‘ß“π ·≈–°‘®°√√¡∑“ß°“√‡ß‘π∑’Ë ”§—≠¢Õß∫√‘…—∑ √«¡ ∑—Èß∫√‘…—∑¬àÕ¬‡æ◊ËÕ„Àâ¡—Ëπ„®«à“ ‡ªìπ‰ªµ“¡√–‡∫’¬∫·≈–«‘∏’ ªØ‘∫—µ‘µ“¡∑’Ë∫√‘…—∑°”Àπ¥ ΩÉ “ ¬µ√«® Õ∫¿“¬„π√“¬ß“πº≈°“√µ√«® Õ∫

standard of practice. Both Directorûs remuneration and Managementûs remuneration has been disclosed in form 56-1. 11. Directors Meeting The Board of Directors will have annual schedule of Meeting. In general, the meeting will be convened every 3 months with extraordinary meeting as required. The Chairman or other Directors as assigned by the Chairman will issue notice of Meeting with agenda and enclose information related to the agenda. The notice of meeting will be sent out to all Directors 7 days in advance. In the fiscal year 2004 there were 7 Meeting of the Board of Directors with the following attendance:Director Attendance/ Total Meeting Called (Meetings) 1. Mr.Charn Issara 5/7 2. Mr.Songkran Issara 7/7 3. Mr.Pravesvudhi Raiva 1/7 4. Mrs.Linda Prasertsom 7/7 5. Mr.Niti Osathanugrah * 3/7 6. Mrs.Teeraporn Srijaroenwong 7/7 7. Mr.Phisud Dajakaisaya 4/7 8. Mr.Witit Ratchatatanun 4/7 9. Mr.Pinit Puapan 3/7 * appointed on 25th February, 2004 12. Sub Committee The Company has appointed an Audit Committee who serves the office for 2 years consisting of all three Independent Directors as follow:1. Mr.Phisud Dajakaisaya Chairman of the Audit Committee 2. Mr.Witit Ratchatatanun Audit Committee 3. Mr.Pinit Puapan Audit Committee


‚¥¬µ√ßµàÕ§≥–°√√¡°“√µ√«® Õ∫´÷Ëß¡’°“√®—¥ª√–™ÿ¡Õ¬à“ß The Audit Committee will meet and report to  ¡Ë”‡ ¡Õ ´÷ßË „π°“√ª√–™ÿ¡®–¡’°“√ Õ∫∑“π π‚¬∫“¬°“√∫—≠™’ the Board of Directors on following matters:-To review the financial report before ·≈–√“¬ß“π∑“ß°“√‡ß‘π √«¡∂÷ß√–∫∫°“√§«∫§ÿ¡¿“¬„π «à“ ¡’ª√– ‘∑∏‘¿“æ ·≈–¡’°“√∫√‘À“√§«“¡‡ ’ˬß∑’ˇ撬ßæÕ·≈– submitting to the Board of Directors, ‡À¡“– ¡ - To co-ordinate with internal audit on report of internal controls assessment, 14. √“¬ß“π¢Õߧ≥–°√√¡°“√ - To review transaction related to conflict of §≥–°√√¡°“√¢Õß∫√‘…—∑‡ªìπºŸâ√—∫º‘¥™Õ∫µàÕß∫°“√ interests, ‡ß‘π√«¡¢Õß∫√‘…∑— ·≈–∫√‘…∑— ¬àÕ¬  “√ π‡∑»∑“ß°“√‡ß‘π °“√ - To review related transaction.

¥”‡π‘π∏ÿ√°‘®∑’Ë ”§—≠ ·≈–°“√°”°—∫¥Ÿ·≈∫√‘…—∑ ∑’˪√“°Ø„π √“¬ß“πª√–®”ªï πÕ°®“°π’È §≥–°√√¡°“√∫√‘…∑— ¬—ß¡’°“√®—¥„Àâ 13. Internal Control and Audit ¡’§≥–°√√¡°“√µ√«® Õ∫ ‡æ◊ÕË ™à«¬æ‘®“√≥“·≈–°≈—πË °√Õßß“π The Company has an internal control ´÷Ëߧ≥–°√√¡°“√µ√«® Õ∫∑—ÈßÀ¡¥‰¡à‡ªìπºŸâ∫√‘À“√·≈–‡ªìπ department to audit the operation and important Õ‘ √– financial matter of the Company including its subsidiary companies to ensure their compliance to the designated regulations and practices. The internal audit will report directly to the Audit Committee who holds regular meeting. Such audit meeting will review accounting policy and financial report including internal controls for its efficiency and see that adequate risk management has been adopted.

15. §«“¡ —¡æ—π∏å°—∫ºŸâ≈ß∑ÿπ §≥–°√√¡°“√„À⧫“¡ ”§—≠ µàÕ°“√‡ªî¥‡º¬¢âÕ¡Ÿ≈∑’Ë §√∫∂â«π ·≈–∂Ÿ°µâÕß·≈–∑—π‡«≈“ ∑—ÈߢâÕ¡Ÿ≈∑“ß°“√‡ß‘π ·≈– ¢âÕ¡Ÿ≈∑—Ë«‰ª µ≈Õ¥®π¢âÕ¡Ÿ≈ ”§—≠∑’Ë¡’º≈°√–∑∫µàÕ√“§“ À≈—°∑√—æ¬å¢Õß∫√‘…—∑ ∑—Èß√“¬ß“πºà“πºŸâ∂◊ÕÀÿâπ‚¥¬µ√ß·≈– ‡º¬·æ√à∑“ß ◊ÕË ¢Õßµ≈“¥À≈—°∑√—æ¬å ·≈– Web-site ¢Õß∫√‘…∑— ∑’Ë www.charnissara.co.th ·µà∫√‘…∑— ¬—߉¡à‰¥â®¥— µ—ßÈ Àπà«¬ß“π ºŸâ≈ß∑ÿπ —¡æ—π∏å (Investor Relations) ‡π◊ËÕß®“°°‘®°√√¡„π °“√„Àâ¢âÕ¡Ÿ≈ ·≈–µ‘¥µàÕ ◊ËÕ “√°—∫π—°≈ß∑ÿπ ºŸâ∂◊ÕÀÿâπ √«¡∑—Èß 14. Report of the Board of Directors π—°«‘‡§√“–Àå¬ß— ¡’‰¡à¡“° ∑—ßÈ π’È ºŸ≈â ß∑ÿπ·≈–ºŸ â π„® “¡“√∂µ‘¥µàÕ The Board of Directors is responsible for the ¢Õ¢âÕ¡Ÿ≈∫√‘…—∑‰¥â∑’Ë ‚∑√. 0-2308-2020 ‚∑√ “√ 0-2308-2990 Companyûs financial report including those of its À√◊Õ∑’Ë e-mail address çsongkran@charnissara.co.thé subsidiary companies. Financial record, important business transaction and companyûs monitoring are also responsibility of the Board of Directors to report in the Annual Report. In addition, the Board of Directors will have its Audit Committee whose members consist of non executive and independent Directors. 15. Relationship with investors The Board of Directors realizes the important of accurate and timely disclosure, including financial information and others information which may affect ANNUAL REPORT

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°“√¥Ÿ·≈°“√„™â¢âÕ¡Ÿ≈¿“¬„π 1. ∫√‘…∑— ¡’π‚¬∫“¬¥Ÿ·≈ºŸ∫â √‘À“√·≈–æπ—°ß“π„π°“√π” ¢âÕ¡Ÿ≈¿“¬„π¢Õß∫√‘…∑— ‰ª„™â‡æ◊ÕË ª√–‚¬™πå «à πµπ ‚¥¬ºŸ∫â √‘À“√ ·≈–æπ—°ß“π∑’ˉ¥â√∫— ∑√“∫¢âÕ¡Ÿ≈¿“¬„π ®–µâÕß√–ß—∫°“√´◊ÕÈ À√◊Õ ¢“¬À≈—°∑√—æ¬å¢Õß∫√‘…—∑„π™à«ß 1 ‡¥◊Õπ°àÕπ∑’Ë∫√‘…—∑®–¡’ °“√ª√–°“»º≈°“√¥”‡π‘πß“π (ß∫°“√‡ß‘π) 2. °”À𥇫≈“„π°“√ª√–°“»º≈°“√¥”‡π‘πß“π ·≈– ¢âÕ¡Ÿ≈¢à“« “√∑’ˇªìπ “√– ”§—≠´÷Ëß¡’º≈µàÕ°“√‡ª≈’ˬπ·ª≈ß ¢Õß√“§“À≈—°∑√—æ¬å·≈–¡’º≈°√–∑∫µàÕß∫°“√‡ß‘π¢Õß∫√‘…—∑ ¿“¬„π 45 «—ππ—∫®“°«—π ‘Èπ‰µ√¡“  ·≈– 60 «—ππ—∫®“°«—π  ‘Èπß«¥∫—≠™’ 3. ∫√‘…—∑‰¥â°”Àπ¥„À⺟â∫√‘À“√¡’Àπâ“∑’Ë ®—¥∑”·≈– àß √“¬ß“π°“√∂◊ÕÀ≈—°∑√—æ¬å¢Õßµπ ¢ÕߧŸà ¡√  ·≈–¢Õß∫ÿµ√∑’Ë ¬—߉¡à∫√√≈ÿ𵑠¿‘ “«–„π∫√‘…∑— ®¥∑–‡∫’¬π∑’µË π‡ªìπºŸ∫â √‘À“√ µàÕ  ”π—°ß“π§≥–°√√¡°“√°”°—∫À≈—°∑√—æ¬å·≈–µ≈“¥À≈—°∑√—æ¬å °“√§«∫§ÿ¡¿“¬„π §≥–°√√¡°“√µ√«® Õ∫¢Õß∫√‘…∑— ‰¥â∑”°“√ Õ∫∑“π √–∫∫°“√§«∫§ÿ¡¿“¬„π ‚¥¬¡’§«“¡‡ÀÁπ„π¥â“πµà“ßÊ ¥—ßπ’È 1. ¥â“πÕߧå°√·≈– ¿“æ·«¥≈âÕ¡ ∫√‘…—∑¡’°“√®—¥°“√‚§√ß √â“ߢÕßÕߧå°√ ¢Õ∫‡¢µ Õ”π“®¢ÕßΩÉ“¬∫√‘À“√µà“ßÊ ‡ªìπ≈“¬≈—°…≥åÕ°— …√Õ¬à“ß™—¥‡®π ·≈–‰¥â°”Àπ¥‡ªÑ“À¡“¬¢Õß∫√‘…—∑„π°“√¥”‡π‘π∏ÿ√°‘®„π Õ𓧵‰«â‡æ◊ËÕ„ÀâΩÉ“¬∫√‘À“√·≈–æπ—°ß“π„π√–¥—∫µà“ßÊ ‰¥â √à«¡°—π∑”ß“π‡æ◊ËÕ‰ª Ÿà‡ªÑ“À¡“¬√à«¡°—π ‚¥¬‡πâπ„π‡√◊ËÕß §«“¡´◊ÕË  —µ¬å ®ÿ √‘µ·≈–§«“¡‡ªìπ∏√√¡µàÕÕߧå°√ ·µà¬ß— ¢“¥°“√ ®—¥∑”¢âÕ°”À𥇰’ˬ«°—∫®√‘¬∏√√¡ (Code of Conduct) ´÷Ëß ∫√‘…—∑°”≈—ߥ”‡π‘π°“√®—¥∑”Õ¬Ÿà 2. ¥â“π°“√∫√‘À“√§«“¡‡ ’Ë¬ß ΩÉ“¬∫√‘À“√‰¥â¡’°“√µ‘¥µ“¡ ª√–‡¡‘π·≈–«‘‡§√“–Àåº≈ °√–∑∫∑’ËÕ“®‡°‘¥¢÷Èπ®“°ªí®®—¬§«“¡‡ ’Ë¬ß ∑—Èß¿“¬„π·≈– ¿“¬πÕ°Õ¬Ÿàµ≈Õ¥‡«≈“ ·≈–¥”‡π‘π°“√‡µ√’¬¡æ√âÕ¡„π°“√ ·°â‰¢‡æ◊ËÕ„Àâ¡’º≈°√–∑∫µàÕ∫√‘…—∑πâÕ¬∑’Ë ÿ¥

share price. Such disclosures has been done through direct communication to shareholders and through Stock Exchange of Thailand and the Companyûs web site at www.charnissara.co.th. The Company has not yet established an Investor Relations due to light work load. Those who are interested in the Companyûs information may contact the Company at Tel 0-2308-2020 Fax. 0-2308-2990 or e-mail address : songkran@charnissara.co.th Supervision of Internal Information 1. The Company has a policy on supervision of usage of internal information by its executives and staff for their own benefits. The executives and staff who have come across internal information shall not buy or sell the securities of the Company within the period of 1 month before the Company announces its results of operations (financial statements) 2. The significant information that may affect the prices of the securities. In regard to financial statements, the Company announces its results of operations within 45 days from the end of a quarter and 60 days after the end of the accounting period. 3. The Company sets the rules that the executives are obliged to prepare and submit, to the office of Securities and Exchange Commission, the reports on the holding of shares by them, and by their spouses and underage children, in the listed companies they are the executives. Internal Control The Audit Committee of the Company has duly made a review of the internal control system by asking the directors and the executives of the Company to make a clarification and an explanation of the various systems applied for the administration during 2002. The audit Committee, the Board of


3. ¥â“π°“√§«∫§ÿ¡°“√ªØ‘∫—µ‘ß“π¢ÕßΩÉ“¬∫√‘À“√ ‡π◊ËÕß®“°∫√‘…—∑‰¥â®—¥¡’°“√‚§√ß √â“ßÕߧå°√¢ÕßΩÉ“¬ ∫√‘À“√·≈–¢Õ∫‡¢µ¢ÕßÕ”π“®‰«âÕ¬à“ß™—¥‡®π ‡ªìπ ≈“¬ ≈—°…≥åÕ—°…√ ¡’√–∫∫°“√µ√«® Õ∫√–À«à“ßÀπ૬ߓπ„π ·µà≈–¢—ÈπµÕπ ®÷ß¡—Ëπ„®‰¥â«à“ΩÉ“¬∫√‘À“√‰¥âªØ‘∫—µ‘µ“¡°Æ¢âÕ ∫—ߧ—∫¢Õß∫√‘…—∑ µ≈Õ¥®π°ÆÀ¡“¬·≈–¢âÕ∫—ߧ—∫∑’ˇ°’ˬ«¢âÕß 4. ¥â“π√–∫∫ “√ π‡∑»·≈–°“√ ◊ËÕ “√¢âÕ¡Ÿ≈ ∫√‘ …— ∑ ‡≈Á ß ‡ÀÁ π ∂÷ ß §«“¡ ”§— ≠ „π°“√√«∫√«¡·≈– ª√–¡«≈º≈¢âÕ¡Ÿ≈„À≥âÕ¬à“ß√«¥‡√Á«·≈–¡’ª√– ‘∑∏‘¿“æ ®÷߉¥â¡’ °“√≈ß∑ÿπ„ÀâΩÉ“¬µà“ßÊ ¡’‡§√◊ËÕߧա摫‡µÕ√å∑’Ë∑—π ¡—¬‰«â„™â ß“πÕ¬à“߇撬ßæÕ ‡æ◊ÕË √“¬ß“π„ÀâΩ“É ¬∫√‘À“√·≈–§≥–°√√¡°“√ ‰¥â√—∫∑√“∫·≈– “¡“√∂µ—¥ ‘π„®„π°“√·°âªí≠À“ ‚¥¬‡©æ“– ¢âÕ¡Ÿ≈∑“ߥâ“π∫—≠™’·≈–°“√‡ß‘π 5. ¥â“π√–∫∫°“√µ‘¥µ“¡ ∫√‘…∑— ‰¥â¡°’ “√µ‘¥µ“¡°“√¥”‡π‘πß“π„À⇪ìπ‰ªµ“¡‡ªÑ“ À¡“¬∑’Ë°”Àπ¥‰«â ‚¥¬ √ÿª‡ªìπ√“¬ß“π‡ª√’¬∫‡∑’¬∫°“√ ¥”‡π‘πß“π°—∫‡ªÑ“À¡“¬∑’˵—È߉«â À“°¡’¢âÕ∫°æ√àÕß °Á®–‡ πÕ ·π–µàÕ°√√¡°“√ºŸâ®—¥°“√„Àâæ‘®“√≥“¥”‡π‘π°“√„Àâ∫√√≈ÿ‡ªÑ“ À¡“¬¢Õß∫√‘…—∑ ∑—Èßπ’È ‰¡à¡’¢âÕ —߇°µ‡°’ˬ«°—∫°“√§«∫§ÿ¡¿“¬„π„π°“√ µ√«® Õ∫∫—≠™’¢Õß∫√‘…—∑  ”À√—∫ªï ‘Èπ ÿ¥«—π∑’Ë 31 ∏—𫓧¡ 2547 ¢ÕߺŸâ Õ∫∫—≠™’ - ∫√‘…—∑  ”π—°ß“π ‡Õ‘π å∑ ·Õπ¥å ¬—ß ®”°—¥

Directors and the executives then made a joint final review at a Board of Directors meeting. Opinions noted during the review are as follow:1. Organization and Circumstances The Company has initiated its organization structure, scope of powers of the management, clearly in writing, and has set its future business operation targets for joint achievement by the management and staff at various levels, by emphasizing on faithfulness and fairness to the organization. However, it has not yet prepared the Code of Conduct. Currently, the Company is in the process of drafting its own Code of Conduct. 2. Risk Management The Management monitors, assesses and analyzes the impacts that may arise from risk factors, both internally and externally, at all times. It is also prepared to rectify such impacts so that they may yield least effect to the Company possible. 3. Compliance by the Management As the Company has initiated the organization structure of the Management and the scope of its powers clearly in writing, coupled with the setting up of an auditing system for each department, hence, it is quite confident that the Management does comply with the rules and regulations of the Company as well as the laws and regulations concerned.

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4. Information Technology and Communications The Company foresees the importance on the collection and processing of data rapidly and efficiently, therefore, it has made investments by providing each department with sophisticated computers for usage with sufficient number, so that reports may be made to the Management and the Board of Directors for decisions in rectifying problems, particularly accounting and financial data. 5. Monitoring System The Company monitors the operations so as to ensure that they be carried out in accordance with the targets set forth. This is summarized as a report of comparison of the operations and the targets. Should there be a shortcoming, proposals will be forwarded to the Managing Director for further action in order to achieve the companyûs targets. The Auditor, Ernst & Young Office Limited, made no remarks on the internal control in regard to the companyûs auditing for the year ending 31st December 2004.


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ºŸ∂â Õ◊ Àÿπâ Shareholders

§≥–°√√¡°“√ Board of Director

°√√¡°“√ºŸâ®—¥°“√ Managing Director

æ—≤𓂧√ß°“√ Project Development

‚§√ß°“√√à«¡≈ß∑ÿπ Joint Venture

∫—≠™’/°“√‡ß‘π Account/Finance


·ºπ¿Ÿ¡‘‚§√ß √â“ß°“√®—¥°“√ / Organization Charts

§≥–°√√¡°“√µ√«® Õ∫ Board of Audit Committee

µ√«® Õ∫¿“¬„π Internal Auditor

°“√µ≈“¥·≈–≈Ÿ°§â“ —¡æ—π∏å Marketing/Customer Relation

∫ÿ§§≈/∏ÿ√°“√ Personnel/Admin.

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§≥–°√√¡°“√∫√‘…—∑ / Board of Directors

𓬙“≠ Õ‘  √– Mr.Charn Issara ª√–∏“π°√√¡°“√ Chairman

π“¬ ß°√“πµå Õ‘  √– Mr.Songkran Issara °√√¡°“√ºŸâ®—¥°“√ Managing Director

π“ß≈‘𥓠ª√–‡ √‘∞ ¡ Mrs.Linda Prasertsom

°√√¡°“√ Director

π“¬π‘µ‘ ‚Õ ∂“πÿ‡§√“–Àå Mr.Niti Osathanugrah °√√¡°“√ Director


𓬪√–‡«»«ÿ≤‘ ‰√«“ Mr.Pravesvudhi Raiva °√√¡°“√ Director

π“ß∏’√“¿√≥å »√’‡®√‘≠«ß»å Mrs.Teeraporn Srijaroenwong °√√¡°“√ Director

π“¬æ‘ ÿ∑∏‘Ï ‡¥™–‰°»¬– Mr.Phisud Dajakaisaya ª√–∏“π°√√¡°“√µ√«® Õ∫ ·≈–°√√¡°“√Õ‘ √– Chairman of Audit Committee and Independent Director

𓬫‘∑‘µ √—™™µ“µ–π—π∑å Mr.Witit Ratchatatanun °√√¡°“√Õ‘ √–·≈– °√√¡°“√µ√«® Õ∫ Independent director and Audit Committee

π“¬æ‘π‘® æ—«æ—π∏å Mr.Pinit Puapan °√√¡°“√Õ‘ √–·≈– °√√¡°“√µ√«® Õ∫ Independent director and Audit Committee

ANNUAL REPORT

2004 ::: 35


36 ::: √“¬ß“πª√–®”ªï

2547

√“¬≈–‡Õ’¬¥‡°’ˬ«°—∫°√√¡°“√ ºŸâ∫√‘À“√·≈–ºŸâ¡’Õ”π“®§«∫§ÿ¡¢Õß∫√‘…—∑ Board of Directorûs Description ª√–«—µ‘°“√∑”ß“π„π√–¬–‡«≈“ 5 ªï ¬âÕπÀ≈—ß ™◊ËÕ  °ÿ≈/µ”·Àπàß

1. 𓬙“≠ Õ‘  √– ª√–∏“π°√√¡°“√

Õ“¬ÿ (ªï) 88

§ÿ≥«ÿ≤‘∑“ß°“√ »÷°…“ Ÿß ÿ¥ ¡À“«‘∑¬“≈—¬ §‘¡´“π‡©“‚® ª√–‡∑»®’π

™à«ß‡«≈“

µ”·Àπàß

50

ª√‘≠≠“‚∑ ‡»√…∞»“ µ√å University of Bloomington

∫√‘…—∑ ‡Õ .´’.¥’‡«≈ÁÕª‡¡π∑å ®”°—¥ ∫√‘…—∑ π“√“¬≥å√à«¡æ‘æ—≤πå ®”°—¥ ∫√‘…—∑ ´’.‰Õ. æ√ÁÕæ‡æÕµ’È ®”°—¥ ∫√‘…—∑ ´’. ‰Õ. ‚Œ≈¥‘Èß ®”°—¥ ∫√‘…—∑ Õ‘π‡µÕ√å‡π™—Ëπ·π≈ √’´Õ√å∑ ¥’‡«≈≈Õª‡¡π∑å ®”°—¥

„À⇙à“Õ“§“√ ”π—°ß“π æ—≤π“Õ —ßÀ“√‘¡∑√—æ¬å RCA æ—≤π“Õ —ßÀ“√‘¡∑√—æ¬å ∏ÿ√°‘®°àÕ √â“ß æ—≤π“Õ —ßÀ“√‘¡∑√—æ¬å

ª√–∏“π°√√¡°“√ ª√–∏“π°√√¡°“√ 2532-ªí®®ÿ∫—π ª√–∏“π°√√¡°“√ ª√–∏“π°√√¡°“√

∫√‘…—∑ ™–Õ”√à«¡∑ÿπ ®”°—¥ ∫√‘…—∑ ©≈Õß°√ÿß°“√‡°…µ√ ®”°—¥ ∫√‘…—∑ ´‘µ’ȧ≈—∫ ®”°—¥ ∫√‘…—∑ ™“≠Õ‘  √– ¥’‡«≈ÁÕª‡¡π∑å ®”°—¥ (¡À“™π) ∫√‘…—∑  «π‡æ™√ ®”°—¥ ∫√‘…—∑ ‚°≈∫Õ≈ æ√ÁÕæ‡æÕµ’È ‡¡‡π®‡¡π∑å ®”°—¥

æ—≤π“Õ —ßÀ“√‘¡∑√—æ¬å ´◊ÈÕ-¢“¬Õ —ßÀ“√‘¡∑√—æ¬å (∑’Ë¥‘π) ´◊ÈÕ-¢“¬Õ —ßÀ“√‘¡∑√—æ¬å (∑’Ë¥‘π) æ—≤π“Õ —ßÀ“√‘¡∑√—æ¬å

∫√‘…—∑ ™“≠Õ‘  √– ¥’‡«≈ÁÕª‡¡π∑å ®”°—¥ (¡À“™π) ∫√‘…—∑ ´’.‰Õ. æ√ÁÕæ‡æÕµ’È ®”°—¥ ∫√‘…—∑ ™–Õ”√à«¡∑ÿπ ®”°—¥ ∫√‘…—∑ π“√“¬≥å√à«¡æ‘æ—≤πå ®”°—¥ ∫√‘…—∑ Õ‘π‡µÕ√å‡π™—Ëπ·π≈ √’´Õ√å∑ ¥’‡«≈≈Õª‡¡π∑å ®”°—¥ ∫√‘…—∑  «π‡æ™√ ®”°—¥ ∫√‘…—∑ ‡Õ .´’.¥’‡«≈ÁÕª‡¡π∑å ®”°—¥ ∫√‘…—∑ ´’. ‰Õ. Õ‘π‡µÕ√å‡π™—Ëπ·π≈ ≈‘ ´‘Ëß ®”°—¥ ∫√‘…—∑ ©≈Õß°√ÿß°“√‡°…µ√ ®”°—¥ ∫√‘…—∑ ™“≠Õ‘  √– ‡√ ´‘‡¥π∑å ®”°—¥ ∫√‘…—∑ ´’.‰Õ.‡Õ™.¥’‡«≈≈Õª‡¡π∑å ®”°—¥

æ—≤π“Õ —ßÀ“√‘¡∑√—æ¬å

2524-ªí®®ÿ∫—π °√√¡°“√ºŸ®â ¥— °“√ °√√¡°“√ °√√¡°“√ °√√¡°“√ °√√¡°“√ °√√¡°“√ °√√¡°“√ °√√¡°“√ 2544-ªí®®ÿ∫—π °√√¡°“√ 2545-ªí®®ÿ∫—π °√√¡°“√ °√√¡°“√

3. π“ß≈‘𥓠ª√–‡ √‘∞ ¡ °√√¡°“√

50

ª√‘≠≠“µ√’ ∫√‘À“√∏ÿ√°‘® ¡À“«‘∑¬“≈—¬ √“¡§”·Àß

ª√–‡¿∑∏ÿ√°‘®

ª√–∏“π°√√¡°“√ ª√–∏“π°√√¡°“√ ª√–∏“π°√√¡°“√ ª√–∏“π°√√¡°“√ ª√–∏“π°√√¡°“√

2514-ªí®®ÿ∫—π 2521-ªí®®ÿ∫—π 2524-ªí®®ÿ∫—π 2527-ªí®®ÿ∫—π 2531-ªí®®ÿ∫—π

ª√–∏“π°√√¡°“√ 2534-ªí®®ÿ∫—π ª√–∏“π°√√¡°“√

2. π“¬ ß°√“πµå Õ‘  √– °√√¡°“√ºŸ®â ¥— °“√ (¡’Õ”π“®≈ßπ“¡)

∫√‘…—∑

æ—≤π“Õ —ßÀ“√‘¡∑√—æ¬å √—∫∫√‘À“√Õ“§“√ ·≈–ª√–¡Ÿ≈¬“ß ¡–µÕ¬

æ—≤π“Õ —ßÀ“√‘¡∑√—æ¬å æ—≤π“Õ —ßÀ“√‘¡∑√—æ¬å æ—≤π“Õ —ßÀ“√‘¡∑√—æ¬å æ—≤π“Õ —ßÀ“√‘¡∑√—æ¬å æ—≤π“Õ —ßÀ“√‘¡∑√—æ¬å „À⇙à“Õ“§“√ ”π—°ß“π „À⇙à“Õ“§“√ ”π—°ß“π „π RCA ´◊ÈÕ-¢“¬Õ —ßÀ“√‘¡∑√—æ¬å (∑’Ë¥‘π) æ—≤π“Õ —ßÀ“√‘¡∑√—æ¬å æ—≤π“Õ —ßÀ“√‘¡∑√—æ¬å

2532-ªí®®ÿ∫—π ∑’ªË √÷°…“∑“ß°“√‡ß‘π ∫√‘…—∑ ´’. ‰Õ. æ√ÁÕæ‡æÕµ’È ®”°—¥ æ—≤π“Õ —ßÀ“√‘¡∑√—æ¬å ·≈–°“√∫—≠™’ ∫√‘…—∑ ™“≠Õ‘  √– ¥’‡«≈ÁÕª‡¡π∑å æ—≤π“Õ —ßÀ“√‘¡∑√—æ¬å 2545-ªí®®ÿ∫—π °√√¡°“√ ®”°—¥ (¡À“™π)


Professional career for the past five years Name/Position 1. Mr.Charn Issara Chairman

Age (year)

Education

88 Kimsanchawcho University Replubic of China

Period 1971-Present 1978-Present 1981-Present 1984-Present 1988-Present

Position Chairman Chairman Chairman Chairman Chairman Chairman Chairman

1989-Present Chairman Chairman Chairman 1991-Present Chairman

2. Mr.Songkran Issara Managing Director (Authorized Signature)

50 Master degree in 1981-Present Managing Economics Director University of Bloomington Director Director Director Director Director Director Director 2001-Present Director 2002-Present Director Director

Company

Business Sector

S.C.Development Co., Ltd. Narai Ruamphiphat Co., Ltd. C.I. Property Co., Ltd. C.I.Holding Co., Ltd. International Resource Development Co., Ltd. Cha-am Ruamthun Co., Ltd. Chalongkrungkrankaset Co., Ltd. City Club Co., Ltd. Charn Issara Development Public Co., Ltd. Suan Petch Co., Ltd. Global Property Management Co., Ltd.

Office Rental Real Estate Development for RCA Real Estate Development Construction Business Real Estate Development Real Estate Development Real Estate Development Real Estate Development Real Estate Development Real Estate Development Building management and Asphat trading

Charn Issara Development Real Estate Development Public Co., Ltd. C.I. Property Co., Ltd. Cha-am Ruamthun Co., Ltd. Narai Ruamphiphat Co., Ltd. International Resource Development Co., Ltd. Suan Petch Co., Ltd. S.C. Development Co., Ltd. C.I. International Leasing Co., Ltd. Chalongkrungkarnkaset Co., Ltd. Charn Issara Residence Co., Ltd. C.I.H.Development Co., Ltd.

Real Estate Development Real Estate Development Real Estate Development Real Estate Development Real Estate Development Office Rental Office Rental for RCA Real Estate Development Real Estate Development Real Estate Development

Real Estate Development 3. Mrs.Linda Prasertsom 50 Bachelor degree 1989-Present Financial and C.I. Property Co., Ltd. Accountion of Business Director Consultant Administration Ramkhamhaeng 2002-Present DirectorDirector Charn Issara Development Real Estate Development Public Co., Ltd. University

ANNUAL REPORT

2004 ::: 37


38 ::: √“¬ß“πª√–®”ªï

2547

ª√–«—µ‘°“√∑”ß“π„π√–¬–‡«≈“ 5 ªï ¬âÕπÀ≈—ß ™◊ËÕ  °ÿ≈/µ”·Àπàß

Õ“¬ÿ (ªï)

§ÿ≥«ÿ≤‘∑“ß°“√ »÷°…“ Ÿß ÿ¥

™à«ß‡«≈“

µ”·Àπàß

∫√‘…—∑

ª√–‡¿∑∏ÿ√°‘®

4. 𓬪√–‡«»«ÿ≤‘ ‰√«“ °√√¡°“√

53

ª√‘≠≠“‚∑ ®ÿÓ≈ß°√≥å ¡À“«‘∑¬“≈—¬

∫√‘…∑— ‡Õ  ·Õπ¥å æ’ ´‘π¥’‡§∑ ®”°—¥ ®”Àπà“¬Õ“À“√ ‡∫‡°Õ√’ (¡À“™π) π”‡¢â“‰Õ»§√’¡ °√√¡°“√ºŸâ®—¥°“√„À≠à ∫√‘…—∑ ‡Õ™¥’ ¥‘ ∑√’∫‘«‡µÕ√å (ª√–‡∑»‰∑¬) ®”°—¥ °√√¡°“√ºŸâ®—¥°“√„À≠à ∫√‘…—∑ ‡Õ  ·Õπ¥å æ’ ¥‘ ∑√’∫‘«™—Ëπ ¢“¬º≈‘µ¿—≥±å¢π¡·≈–‡§√◊ËÕߥ◊Ë¡ ·Õπ¥å ‡´≈≈å ®”°—¥ ∫√‘…—∑ ™“≠Õ‘  √– ¥’‡«≈ÁÕª‡¡π∑å æ—≤π“Õ —ßÀ“√‘¡∑√—æ¬å 2545-ªí®®ÿ∫—π °√√¡°“√ ®”°—¥ (¡À“™π)

5. π“¬π‘µ‘ ‚Õ ∂“πÿ‡§√“–Àå °√√¡°“√

31

ª√‘≠≠“µ√’ ‡»√…∞»“ µ√å Amherst College, Massachusetts, U.S.A.

2539--2541

6. π“¬æ‘ ÿ∑∏‘Ï ‡¥™–‰°»¬– °√√¡°“√Õ‘ √–·≈– ª√–∏“π°√√¡°“√µ√«® Õ∫

7. 𓬫‘∑‘µ √—™™“µ“µ–π—π∑å °√√¡°“√Õ‘ √–·≈– °√√¡°“√µ√«® Õ∫

49

50

2536-ªí®®ÿ∫—π °√√¡°“√∫√‘À“√

2542-ªí®®ÿ∫—π 2543-ªí®®ÿ∫—π 2535-ªí®®ÿ∫—π 2543-ªí®®ÿ∫—π 2547-ªí®®ÿ∫—π

Investment Banking Merril Lynch And Co., New York, ∫√‘…—∑∑’˪√÷°…“∑“ß°“√‡ß‘π Hong Kong Market Research ∫√‘…—∑ ¬Ÿπ‘≈’‡«Õ√å‰∑¬‚Œ≈¥‘Èß ®”°—¥ ∫√‘…—∑≈ß∑ÿπ ∫√‘…—∑ ∫“ß°Õ°√‘π‡« ∑å ®”°—¥ ∫√‘…—∑≈ß∑ÿπ °√√¡°“√∫√‘À“√ ∫√‘…—∑§â“ª≈’° ∫√‘…—∑ ‚Õ ∂ ¿“ ®”°—¥ °√√¡°“√ ∫√‘…—∑∑’Ë„Àâ∫√‘°“√∑“ß IT ∫√‘…—∑  ¬“¡°Ÿ√Ÿ ®”°—¥ °√√¡°“√ ∫√‘…—∑ ™“≠Õ‘  √– ¥’‡«≈ÁÕª‡¡π∑å æ—≤π“Õ —ßÀ“√‘¡∑√—æ¬å °√√¡°“√ ®”°—¥ (¡À“™π)

2533-ªí®®ÿ∫—π Executive Partner ª√‘≠≠“‚∑ ¥â“π°ÆÀ¡“¬ ‡ª√’¬∫‡∑’¬∫ Southern Methodist 2545-ªí®®ÿ∫—π °√√¡°“√ ª√–∏“π°√√¡°“√ University ª√‘≠≠“‡Õ° »÷°…“»“ µ√å Harvard University, U.S.A.

ºŸâÕ”π«¬°“√  ”π—°ß“π§≥– °√√¡°“√√à«¡¿“§ √—∞∫“≈·≈–‡Õ°™π‡æ◊ËÕ ·°â‰¢ªí≠À“∑“ß ‡»√…∞°‘® 2544-ªí®®ÿ∫—π ºŸÕâ ”π«¬°“√ ”π—° π‚¬∫“¬‡»√…∞°‘® √–À«à“ߪ√–‡∑» 2545-ªí®®ÿ∫—π ºŸÕâ ”π«¬°“√ ”π—°  —ߧ¡¡À¿“§ ºŸâ™à«¬‡≈¢“ °√√¡°“√ 2539-2542

Siam Permier International Law ∫√‘…—∑∑’˪√÷°…“¥â“π°ÆÀ¡“¬ Office Limited ∫√‘…—∑ ™“≠Õ‘  √– ¥’‡«≈ÁÕª‡¡π∑å æ—≤π“Õ —ßÀ“√‘¡∑√—æ¬å ®”°—¥ (¡À“™π)  ”π—°ß“π§≥–°√√¡°“√æ—≤π“°“√ Àπà«¬ß“π¿“§√—∞ ‡»√…∞°‘®·≈– —ߧ¡·Ààß™“µ‘

 ”π—°ß“π§≥–°√√¡°“√æ—≤π“°“√ Àπà«¬ß“π¿“§√—∞ ‡»√…∞°‘®·≈– —ߧ¡·Ààß™“µ‘

 ”π—°ß“π§≥–°√√¡°“√æ—≤π“°“√ ‡»√…∞°‘®·≈– —ߧ¡·Ààß™“µ‘‘  ∂“∫—π ‰∑¬-‡¬Õ√¡—π Õߧ尓√ ÿ√“ °√¡ √√æ “¡‘µ °√–∑√«ß°“√§≈—ß °√√¡°“√∫√‘À“√°‘®°“√  ”π—°π“¬°√—∞¡πµ√  ”π—°π“¬°√—∞¡πµ√’ °√√¡°“√·≈– ‡≈¢“πÿ°“√§≥– °√√¡°“√√≥√ߧå„Àâ„™â  ‘π§â“·≈–∫√‘°“√‰∑¬

Àπà«¬ß“π¿“§√—∞ Àπà«¬ß“π¿“§√—∞ Àπà«¬ß“π¿“§√—∞ Õߧå°√¢Õß√—∞ Õߧå°√¢Õß√—∞


Professional career for the past five years Name/Position 4. Mr.Pravesvudhi Raiva Director

Age (year)

Education

53 Master Degree Chulalongkorn University

Period

Position

1993-Present Director Managing Director Managing Director 2002-Present Director

5. Mr.Niti Osathanugrah 31 B.A.Economics 1996-1998 and Political Director Science Amherst College, 1999-2000 Massachusetts, 2000-Present U.S.A. 1992-Present 2000-Present 2004-Present

Investment Banking

Company

Business Sector

S&P Sydicate Public Co., Ltd. H.D.Distributor (Thailand) Co., Ltd. S&P Distribution and Sales Co., Ltd. Charn Issara Development Public Co., Ltd..

Food & Bakery Distributor Icecream importation

Merrill Lynch And Co., New York, Hong Kong

Financial Advisor Company

Market Research Unilever Thai Holding Co., Ltd. Executive Director Bangkok Rinvest Co., Ltd. Osatspa Co., Ltd. Director Siamguru Co., Ltd. Director Charn Issara Development Director Public Co., Ltd.

6. Mr.Phisud Dejakaisaya Independent Director and Chairman of Audit Committee

49 Master Degree in 1990-Present Executive Partner Comparative Laws, Southern 2002-Present Director Methodist University

7. Mr.Witit Ratchatatanun Independent Director and Audit Committee

50 Doctoral Degree in Education Harvard University, USA

Food & Beverage Distributor Real Estate Development

Holding Company Holding Company Retails Company IT Services Company Real Estate Development

Siam Permier International Laws consultant company Law Office Limited Charn Issara Development Real Estate Development Public Co., Ltd.

1996-1999 Director, office National Economic and Government Social Development Board of the Joint Public/Private Consultative National Economic and Government Committee Social Development Board National Economic and Government 2001-Present Director, Social Development Board International Policy Office 2001-present Director, Macro National Economic and Government Social Development Board Social Policy Thai-Germann Institute Office Government Liqnor Distillery Organiza- Government Director tion Ministry of Finance Office of the Prime Minister Public Agency Director Director Secretary Office of the Prime Minister Public Agency Nation Committee to Promote of Thai Product and Services

ANNUAL REPORT

2004 ::: 39


40 ::: √“¬ß“πª√–®”ªï

2547

™◊ËÕ  °ÿ≈/µ”·Àπàß

Õ“¬ÿ (ªï)

ª√–«—µ‘°“√∑”ß“π„π√–¬–‡«≈“ 5 ªï ¬âÕπÀ≈—ß §ÿ≥«ÿ≤‘∑“ß°“√ »÷°…“ Ÿß ÿ¥

™à«ß‡«≈“

µ”·Àπàß

∫√‘…—∑

ª√–‡¿∑∏ÿ√°‘®

Õߧå°√¢Õß√—∞  ”π—°π“¬°√—∞¡πµ√’ °√√¡°“√·≈– ‡≈¢“πÿ°“√§≥– °√√¡°“√Õ”π«¬°“√ ∏𓧓√§≈—ß ¡Õß ∫√‘…∑— ™“≠Õ‘  √– ¥’‡«≈ÁÕª‡¡π∑å æ—≤π“Õ —ßÀ“√‘¡∑√—æ¬å °√√¡°“√ ®”°—¥ (¡À“™π) Associate Vice Prisident Director Managing Director Principal °√√¡°“√

Salomon Brothers Salomon Smith Barney CapMaxx Company Limited CapMaxx Company Limited Quinessential Holdings (BVI) ∫√‘…—∑ ™“≠Õ‘  √– ¥’‡«≈ÁÕª‡¡π∑å ®”°—¥ (¡À“™π)

∑’ªË √÷°…“∑“ß°“√‡ß‘π ∑’ªË √÷°…“∑“ß°“√‡ß‘π ∑’ªË √÷°…“∑“ß°“√‡ß‘π ∑’˪√÷°…“∑“ß∏ÿ√°‘® Investment and Trading æ—≤π“Õ —ßÀ“√‘¡∑√—æ¬å

8. π“¬æ‘π‘® æ—«æ—π∏å °√√¡°“√Õ‘ √–·≈– °√√¡°“√µ√«® Õ∫

37

2537-2541 ª√‘≠≠“‚∑ 2541-2542 ‡»√…∞»“ µ√å The London School 2542-2543 2542-2543 of Economic and 2543-ªí®®ÿ∫—π Political Science 2545-ªí®®ÿ∫—π

9. π“ß∏’√“¿√≥å »√’‡®√‘≠«ß»å °√√¡°“√ ·≈– ºŸâ®—¥°“√ΩÉ“¬æ—≤π“ ‚§√ß°“√

39

ª√‘≠≠“‚∑ ∫√‘À“√∏ÿ√°‘® ¡À“«‘∑¬“≈—¬ ‡°…µ√»“ µ√å

2533-ªí®®ÿ∫—π ºŸâ®—¥°“√ΩÉ“¬æ—≤π“ ∫√‘…—∑ ™“≠Õ‘  √– ¥’‡«≈ÁÕª‡¡π∑å æ—≤π“Õ —ßÀ“√‘¡∑√—æ¬å ®”°—¥ (¡À“™π) ‚§√ß°“√ ∫√‘…—∑ ™“≠Õ‘  √– ¥’‡«≈ÁÕª‡¡π∑å æ—≤π“Õ —ßÀ“√‘¡∑√—æ¬å 2545-ªí®®ÿ∫—π °√√¡°“√ ®”°—¥ (¡À“™π)

10. 𓬫’√™—¬ «‘®‘µ√∏π“°ÿ≈ ºŸâ®—¥°“√ΩÉ“¬∫—≠™’ ·≈–°“√‡ß‘π

48

ª√‘≠≠“‚∑ ∫√‘À“√∏ÿ√°‘®  ∂“∫—π∫—≥±‘µ æ—≤π∫√‘À“√»“ µ√å

ºŸâ®—¥°“√∑—Ë«‰ª ·≈– ºŸâ®—¥°“√ΩÉ“¬∫—≠™’ 2541-ªí®®ÿ∫—π ºŸâ®—¥°“√ΩÉ“¬∫—≠™’ ·≈–°“√‡ß‘π

∫√‘…—∑ °√ÿ߇∑æº≈‘µ‡À≈Á° ®”°—¥ º≈‘µ ·≈–®”Àπà“¬‡À≈Á°‡ âπ (¡À“™π) ∫√‘…—∑ ™“≠Õ‘  √– ¥’‡«≈ÁÕª‡¡π∑å æ—≤π“Õ —ßÀ“√‘¡∑√—æ¬å ®”°—¥ (¡À“™π)

11. π“ß«‘¡≈«√√≥ ‡π◊ÕßπÕß ºŸâ®—¥°“√ΩÉ“¬∫ÿ§§≈ ·≈– ∏ÿ√°“√

47

ª√‘≠≠“µ√’ √—∞»“ µ√å ¡À“«‘∑¬“≈—¬ √“¡§”·Àß

2538-ªí®®ÿ∫—π ºŸâ®—¥°“√ΩÉ“¬∫ÿ§§≈ ·≈–∏ÿ√°“√

∫√‘…—∑ ™“≠Õ‘  √– ¥’‡«≈ÁÕª‡¡π∑å æ—≤π“Õ —ßÀ“√‘¡∑√—æ¬å ®”°—¥ (¡À“™π)

12. π“ߪÕß ¡ ‡√◊Õß «— ¥‘Ïæß»å ºŸâ®—¥°“√ΩÉ“¬°“√µ≈“¥

50

ª√‘≠≠“µ√’ Õ—°…√»“ µ√å ®ÿÓ≈ß°√≥å ¡À“«‘∑¬“≈—¬

2530-2543

2532-2540

2543-2545 ªí®®ÿ∫—π

ºŸâ™à«¬π“¬ ∂“π’ ª√–®”°√ÿ߇∑æ ºŸâ®—¥°“√Õ“«ÿ‚ ΩÉ“¬ ªØ‘∫—µ‘°“√¿“§æ◊Èπ¥‘π ºŸâ®—¥°“√ΩÉ“¬ °“√µ≈“¥

Canadian Airline

∏ÿ√°‘®°“√∫‘π

∫√‘…—∑ °“√∫‘π°√ÿ߇∑æ ®”°—¥

∏ÿ√°‘®°“√∫‘π

∫√‘…—∑ ™“≠Õ‘  √– ¥’‡«≈ÁÕª‡¡π∑å æ—≤π“Õ —ßÀ“√‘¡∑√—æ¬å ®”°—¥ (¡À“™π)


Professional career for the past five years Name/Position

Age (year)

Education Period

Position

Business Sector

Company

Public Agency Office of the Prime 2002-Present Director and Minister Secretary Secretary, National Brain Bank Committee Charn Issara Development Real Estate Development Director Public Co., Ltd. 8. Mr.Pinit Puapan Independent director and Audit Committee

37 Master degree in Economics University of Bloomington

9. Mrs.Teeraporn 39 Master Degree, Srijaroenwong Business Director and Project & Administration Development Kasetsart Manager University

1994-1998 1998-1999 1999-2000 1999-2000 2000-Present 2002-Present

Salomon Brothers Associate Vice Prisident Salomon Smith Barney CapMaxx Company Limited Director Managing Director CapMaxx Company Limited Principal Director Quinessential Holdings (BVI) Charn Issara Development Public Co., Ltd.

Financial consulting Financial consulting Financial consulting Financial consulting Investment and Trading Real Estate Development

1990-Present Project & Development Manager 2002-Present Director

Charn Issara Development Real Estate Development Public Co., Ltd.

1989-1997 General Manager and Accounting Manager 1989-Present Accounting & Financial Manager

Bangkok Steel Industry Public Co., Ltd.

Charn Issara Development Real Estate Development Public Co., Ltd.

10.Mr.Weerachai Wichittanakul Accounting & Financial Manager

48 Master Degree, Business Administration NIDA

11.Mrs.Vimonwan Nuangnong Personnel & Admin. Manager

47 Bachalor Degree 1995-Present Personnel & Admin Charn Issara Development Real Estate Development Public Co., Ltd. Manager Political Science Ramkhamhaeng University

12.Mrs.Pongsom Ruangswadipong Marketing & Customer Relations Manager

50 Bachalor Degree 1987-2000 International Assistant Station of Arts Manager Chulalongkorn 2000-2002 Senior Manager University Ground Handing and Services Present Marketing & Customer Relations Manager

Produce & Sale steel

Charn Issara Development Real Estate Development Public Co., Ltd.

Canadian Airline

Airlines Industry

Bangkok Airways Co., Ltd. Airlines Industry Charn Issara Development Real Estate Development Public Co., Ltd.

ANNUAL REPORT

2004 ::: 41


42 ::: √“¬ß“πª√–®”ªï

2547

√“¬≈–‡Õ’¬¥‡°’ˬ«°—∫°√√¡°“√¢Õß∫√‘…—∑¬àÕ¬ Details of Subsidiary Companiesû Directors ∫√‘…—∑™“≠Õ‘  √– ‡√ ´‘‡¥π´å ®”°—¥ Charn Issara Residence Co.,Ltd.

√“¬™◊ËÕ∫√‘…—∑¬àÕ¬ Name of Subsidiaries

∫√‘…—∑™“≠Õ‘  √– «‘¿“æ≈ ®”°—¥ Charn Issara Vipaphol Co., Ltd.

√“¬™◊ËÕ°√√¡°“√ Name of Directors 1. π“¬ ß°√“πµå Õ‘  √– Mr.Songkran Issara 2. 𓬠—𵑠°“≠®πæ—π∏å Mr.Sunti Kanachanapundu 3. π“¬Õ—§π’ ∑—∫∑‘¡∑Õß Mr.Akani Tubtimtong 4. π“ß “«»‘√‘æ√ ‡≈’¬∫®—π∑√å Ms.Siriporn Leabchan 5. π“ß«‘‰≈ Õ‘π∑°Ÿ≈ Mrs. Vilai Intagool 6. 𓬙“≠«‘∑¬å ≈‘¡µ√–°Ÿ≈ Mr.Charnvit Limtrakul 7. 𓬠ÿ√æß»å ‡ √∞¿—°¥’ Mr.Surapong Srethbhakdi 8. π“ß “« ÿ¿“¿√≥å ‡ √∞¿—°¥’ Ms.Supaporn Srethbhakdi 9. 𓬰”æ≈ ‡ √∞¿—°¥’ Mr.Kampol Srethbhakdi

/

/

X , // / / , //

/ , //

/

À¡“¬‡Àµÿ : X = ª√–∏“π°√√¡°“√ XX = °√√¡°“√µ√«® Õ∫ / = °√√¡°“√ // = ºŸâ∫√‘À“√ Remarks : X = Chairman XX = Audit Committee / = Director // = Executive

/ X , // / /


ANNUAL REPORT

2004 ::: 43


44 ::: √“¬ß“πª√–®”ªï

2547

√“¬°“√√–À«à“ß°—π / Related Paties Transaction √“¬°“√√–À«à“ß°—π „πªï 2547 ∫√‘…—∑¡’√“¬°“√√–À«à“ß°—π°—∫∫ÿ§§≈∑’ËÕ“®¡’§«“¡¢—¥·¬âß ¥—ßπ’È

∫ÿ§§≈∑’ËÕ“®¡’°“√¢—¥·¬âß

∫√‘…—∑ Õ‘π‡µÕ√å‡π™—Ëπ·π≈ √’´Õ√å∑ ¥’‡«≈≈Õª‡¡π∑å ®”°—¥ ("IRD")

∫√‘…—∑ ™“≠Õ‘  √– «‘¿“æ≈ ®”°—¥ ®”°—¥ ("CIV")

∫√‘…—∑ ™“≠Õ‘  √– ‡√ ´‘‡¥π´å ®”°—¥ ®”°—¥ (çCIRé)

≈—°…≥–§«“¡ —¡æ—π∏å

≈—°…≥–¢Õß√“¬°“√

‡ªìπ∫√‘…—∑∑’Ë π“¬™“≠ Õ‘  √– ·≈–π“¬ ß°√“πµå Õ‘  √–´÷Ëß ‡ªìπ°√√¡°“√·≈–ºŸâ∂◊ÕÀÿâπ¢Õß ∫√‘…∑— ‰ª‡ªìπ°√√¡°“√ºŸ¡â Õ’ ”π“®

∫√‘ …— ∑ ‰¥â √— ∫ ®â “ ß∫√‘ À “√¥â “ π °“√‡ß‘ π ·≈–°“√∫— ≠ ™’ √ «¡∂÷ ß °“√®—¥°“√¥â“π∏ÿ√°“√¢Õß IRD ‚¥¬‰¥â≈ßπ“¡„π —≠≠“«à“®â“ß ‡¡◊ËÕ 6 惻®‘°“¬π 2545 √“¬‰¥â ® “°√— ∫ ∫√‘ À “√°“√ °àÕ √â“ß∂ππ ∫√‘…—∑‰¥â√—∫°“√§◊π∑ÿπ®“°°“√ ≈¥∑ÿπ¢Õß∫√‘…—∑µ“¡ —¥ à«π

‡ªìπ∫√‘…—∑∑’Ë∫√‘…—∑∂◊ÕÀÿâπ 50% §à“‡™à“·≈–§à“∫√‘°“√ ·≈–π“¬ ß°√“πµå Õ‘  √– ´÷Ëß ‡ªìπ°√√¡°“√·≈–ºŸâ∂◊ÕÀÿâπ¢Õß ‡ß‘π°Ÿâ ∫√‘…∑— ‰ª‡ªìπ°√√¡°“√ºŸ¡â Õ’ ”π“® ¥Õ°‡∫’Ȭ√—∫

‡ªìπ∫√‘…—∑∑’Ë∫√‘…—∑∂◊ÕÀÿâπ 60% ·≈–π“¬ ß°√“πµå Õ‘  √– ´÷Ëß ‡ªìπ°√√¡°“√·≈–ºŸâ∂◊ÕÀÿâπ¢Õß ∫√‘…∑— ‰ª‡ªìπ°√√¡°“√ºŸ¡â Õ’ ”π“®

CIR ‰¥â«à“®â“ß∫√‘…—∑„Àâ∫√‘À“√ ·≈–‡ªìπ∑’˪√÷°…“ ‚§√ß°“√ ∫â“πæ—°µ“°Õ“°“» ç»√’æ—π«“é ®—ßÀ«—¥¿Ÿ‡°Áµ ‚¥¬ «à“®â“߇ªìπ√“¬ªï

¡Ÿ≈§à“¢Õß√“¬°“√ √–À«à“ß°—π (≈â“π∫“∑) 0.96

§«“¡®”‡ªìπ / À¡“¬‡Àµÿ

§≥–°√√¡°“√µ√«® Õ∫‰¥â Õ∫∑“π·≈–æ‘®“√≥“ √“¬°“√¥— ß °≈à “ «·≈â « ¡’ § «“¡‡ÀÁ π «à “ √“¬°“√¥— ß °≈à“«‡ªìπ√“¬°“√∑’‡Ë À¡“– ¡·≈–°àÕ„À⇰‘¥ª√–‚¬™πå µàÕ∫√‘…—∑ ∑—Èßπ’ÈÕ—µ√“§à“∫√‘À“√ß“π·≈–Õ—µ√“§à“ π“¬Àπâ“∑’˧‘¥√–À«à“ß°—π‡ªìπ‰ªµ“¡Õ—µ√“µ≈“¥

1.0 11.27

0.02 12.50 0.97

9.60

§≥–°√√¡°“√µ√«® Õ∫‰¥â Õ∫∑“π·≈–æ‘®“√≥“ √“¬°“√¥—ß°≈à“«·≈â«¡’§«“¡‡ÀÁπ«à“Õ—µ√“§à“‡™à“·≈– §à“∫√‘°“√§‘¥√–À«à“ß°—π‡ªìπÕ—µ√“µ≈“¥∑’Ë∫√‘…—∑„™â ‚¥¬ª°µ‘°—∫≈Ÿ°§â“∑—Ë«‰ª ‡ß‘π°Ÿâ¬◊¡‡ªìπ°“√°Ÿâ¬◊¡µ“¡  — ¥  à « πºŸâ ∂◊ Õ Àÿâ π ´÷Ë ß Õπÿ ¡— µ‘ ‚ ¥¬¡µ‘ ∑’Ë ª √–™ÿ ¡ §≥– °√√¡°“√§√—ßÈ ∑’Ë 8/2546 ‡¡’ÕË «—π∑’Ë 4 °—𬓬π 2546 ·≈–Õ—µ√“¥Õ°‡∫’Ȭ§‘¥µ“¡√“§“µ≈“¥ ´÷Ëß√“¬°“√ √–À«à“ß°—π¥—ß°≈à“«°àÕ„À⇰‘¥ª√–‚¬™πåµàÕ∫√‘…—∑ µ“¡¡µ‘∑’˪√–™ÿ¡§≥–°√√¡°“√§√—Èß∑’Ë 3/2546 ‡¡◊ËÕ «—π∑’Ë19 °ÿ¡¿“æ—π∏å 2547 ·≈–§√—Èß∑’Ë 5/2546 ‡¡◊ËÕ «—π∑’Ë 18 ‡¡…“¬π 2546 ‰¥âÕπÿ¡—µ‘„Àâ∑”√“¬°“√ ¥—ß°≈à“«®π°«à“‚§√ß°“√®–·≈⫇ √Á® ·≈–§≥– °√√¡°“√µ√«® Õ∫‰¥â   Õ∫∑“π·≈–æ‘ ® “√≥“ √“¬°“√√–À«à “ ß°— π ¥— ß °≈à “ «·≈â « ¡’ § «“¡‡ÀÁ π «à “ ‡ªìπ°“√§‘¥§à“∫√‘°“√Õ—µ√“∑’ˇÀ¡“– ¡·≈–°àÕ„Àâ ‡°‘¥ª√–‚¬™πå Ÿß ÿ¥µàÕ∫√‘…—∑


Connected Transaction In the year 2004 the company has connection transaction with persons which may have conflict of interest as follow :Person who may have conflict of interest

Relation

IRD's Board of Directors International Resources Development Co., Ltd. (IRD) is chaired by Mr. Charn Issara or Mr. Songkran Issara, both of whom are also directors and shareholders of CID.

Transaction

Amount (Million Baht)

Necessity / Remark

CIDûs management team signed a contract with IRD on 6 November 2002 to manage IRDûs financial and accounting affairs. Revenue from construction Management for road construction project The Company received its equity redemption from capital decrease

0.96

The auditors agreed after reviewing and examining the inter-company transaction that it was appropriately carried out and beneficial to the company-the management fees and commission fees were in line with the market rate.

Charn Issara Vipaphol Co., 50% of CIV's shares are Rental and service fees owned by CID and its Ltd. (CIV) Board of Directors in- Shareholders Loan cludes Mr. Songkran Issara, who is also a CID Earned interest director and shareholder.

Charn Issara Residence Co., Ltd. (CIR)

60% of CIRûs shares are owned by CID and Mr.Songkran Issara, who is CIDûs director andshareholder is CIRûs chairman of the Board.

CIR hires CID on a annual basis to manage and advise on çSri Panwaé villa resort project in Phuket.

1.0 11.27

0.02 12.50 0.97

9.60

The transaction is in accordance with the companyûs Articles of Association and Civil and Commercial Codes.

The auditors agreed after reviewing and examining the inter-company transaction that the rental and service fees were in line with the rate CID normally charges its customers. Loans were proportion of shareholders equity approved by the Board of Directors at the 8/2003 meeting on 4 September 2003 and the interest rate was in line with the market, all of which had been deemed beneficial to the company. The transaction was approved by the Board of Directors at the 3/2003 meeting on 19 February 2004 and at the 5/2003 meeting on 18 April 2003, and the auditors agreed after reviewing and examining the intercompany transaction that the service fees were appropriate and of optimum benefit to the company.

ANNUAL REPORT

2004 ::: 45


46 ::: √“¬ß“πª√–®”ªï

∫ÿ§§≈∑’ËÕ“®¡’°“√¢—¥·¬âß

°Õß∑ÿπ√«¡Õ —ßÀ“√‘¡∑√—æ¬å ∫“ß°Õ° (çBKKCPé)

2547

≈—°…≥–§«“¡ —¡æ—π∏å

≈—°…≥–¢Õß√“¬°“√

‡ªìπ°Õß∑ÿπ√«¡∑’Ë∫√‘…—∑∂◊ÕÀÿâπ BKKCP ‰¥â «à “ ®â “ ß∫√‘ …— ∑ „Àâ 33.3% ·≈–∫√‘…—∑‡ªìπºŸâ∫√‘À“√ ∫ √‘ À “ √ Õ  — ß À “ √‘ ¡ ∑ √— æ ¬å Õ —ßÀ“√‘¡∑√—æ¬å¢Õß°Õß∑ÿπ ¢Õß°Õß∑ÿπ√«¡‚¥¬§”π«≥º≈ ª√–‚¬™πå∑’ˉ¥â√—∫®“°√“¬‰¥â∑’ ‡°‘¥¢÷Èπ®“°Õ —ßÀ“√‘¡∑√—æ¬å∑’Ë ∫√‘À“√µ“¡ —≠≠“ ´÷Ëß¡’√–¬– ‡«≈“ 10 ªï µ—Èß·µà 30 µÿ≈“§¡ 2546

¡Ÿ≈§à“¢Õß√“¬°“√ √–À«à“ß°—π (≈â“π∫“∑) 2.04

§«“¡®”‡ªìπ / À¡“¬‡Àµÿ

µ“¡¡µ‘∑’˪√–™ÿ¡§≥–°√√¡°“√§√—Èß∑’Ë 9/2546 ‡¡◊ËÕ «—π∑’Ë10 °—𬓬π 2546 ‰¥âÕπÿ¡—µ‘„Àâ∑”√“¬°“√¥—ß °≈à“« ·≈–§≥–°√√¡°“√µ√«® Õ∫‰¥â Õ∫∑“π ·≈–æ‘®“√≥“ √“¬°“√√–À«à“ß°—π¥—ß°≈à“«·≈â«¡’ §«“¡‡ÀÁπ«à“‡ªìπ°“√§‘¥§à“∫√‘°“√Õ—µ√“∑’ˇÀ¡“– ¡ ·≈–°àÕ„À⇰‘¥ª√–‚¬™πå Ÿß ÿ¥µàÕ∫√‘…—∑

§«“¡®”‡ªìπ·≈–§«“¡ ¡‡Àµÿ ¡º≈¢Õß√“¬°“√ °“√∑”√“¬°“√√–À«à“ß°—ππ—Èπ¡’§«“¡ ¡‡Àµÿ ¡º≈·≈–®”‡ªìπ ‡æ◊ËÕ„À⇰‘¥ª√–‚¬™πå Ÿß ÿ¥µàÕ∫√‘…—∑ ‚¥¬§≥–°√√¡°“√µ√«® Õ∫ ‰¥â„À⧫“¡‡ÀÁπ«à“°“√∑”√“¬°“√¥—ß°≈à“«‡ªìπ‰ªµ“¡≈—°…≥–°“√ª√–°Õ∫∏ÿ√°‘®‚¥¬∑—«Ë ‰ª ·≈–§à“µÕ∫·∑π∑’‰Ë ¥â√∫— ·≈–™”√–π—πÈ ‡ªìπ√“§“µ≈“¥ ∑’ˇÀ¡“– ¡ ¡“µ√°“√À√◊Õ¢—ÈπµÕπ°“√Õπÿ¡—µ‘°“√∑”√“¬°“√√–À«à“ß°—π °“√∑”√“¬°“√√–À«à“ß°—π ®–µâÕß¡’°“√‡ πÕ„Àâ·°à∑’˪√–™ÿ¡§≥–°√√¡°“√∫√‘…—∑æ‘®“√≥“ ‚¥¬µâÕß¡’§≥–°√√¡°“√µ√«® Õ∫‡¢â“ √à«¡ª√–™ÿ¡‡æ◊ÕË æ‘®“√≥“·≈–Õπÿ¡µ— °‘ “√∑”√“¬°“√√–À«à“ß°—π¥â«¬ ´÷ßË √“¬°“√√–À«à“ß°—π ¥—ß°≈à“«µâÕߪؑ∫µ— „‘ À⇪ìπ‰ªµ“¡°ÆÀ¡“¬«à“¥â«¬À≈—° ∑√—æ¬å·≈–µ≈“¥À≈—°∑√—æ¬å ·≈–¢âÕ∫—ߧ—∫ ª√–°“» §” —Ëß À√◊Õ¢âÕ°”Àπ¥¢Õßµ≈“¥À≈—°∑√—æ¬å·Ààߪ√–‡∑»‰∑¬ ∑—Èßπ’È ºŸâ∫√‘À“√À√◊ÕºŸâ∂◊Õ Àÿâπ∑’Ë¡’ à«π‰¥â à«π‡ ’¬„π√“¬°“√√–À«à“ß°—π®–‰¡à¡’ à«π„π°“√Õπÿ¡—µ‘ π‚¬∫“¬À√◊Õ·π«‚πâ¡°“√∑”√“¬°“√√–À«à“ß°—π ∫√‘…—∑¡’π‚¬∫“¬„π°“√∑”√“¬°“√√–À«à“ß°—π∑’ˇ°‘¥¢÷ÈπÀ“°¡’√“¬°“√√–À«à“ß°—π‡°‘¥¢÷Èπ„πÕ𓧵 ‚¥¬®–°”Àπ¥‡ß◊ËÕπ‰¢µà“ßÊ „Àâ ‡ªìπ‰ªµ“¡≈—°…≥–°“√§â“‚¥¬∑—«Ë ‰ª„π√“§“µ≈“¥∑’‡Ë À¡“– ¡ ∑—ßÈ π’∫È √‘…∑— ®–„Àâ§≥–°√√¡°“√µ√«® Õ∫‡ªìπºŸ„â À⧫“¡‡ÀÁπ‡°’¬Ë «°—∫√“§“ Õ—µ√“ §à“µÕ∫·∑π √«¡∑—Èߧ«“¡®”‡ªìπ·≈–§«“¡‡À¡“– ¡¢Õß√“¬°“√π—Èπœ À“°¡’√“¬°“√√–À«à“ß°—π¢Õß∫√‘…∑— ‡°‘¥¢÷πÈ °—∫∫ÿ§§≈∑’ÕË “®¡’§«“¡¢—¥·¬âß∑“ߺ≈ª√–‚¬™πå ¡’ «à π‰¥â «à π‡ ’¬À√◊ÕÕ“®¡’§«“¡¢—¥·¬âß ∑“ߺ≈ª√–‚¬™πå„πÕ𓧵 ∫√‘…—∑®–µâÕߪؑ∫—µ‘„À⇪ìπ‰ªµ“¡°ÆÀ¡“¬«à“¥â«¬ À≈—°∑√—æ¬å·≈–µ≈“¥À≈—°∑√—æ¬å ·≈–¢âÕ∫—ߧ—∫ ª√–°“» §” —ßË À√◊Õ¢âÕ°”Àπ¥¢Õßµ≈“¥À≈—°∑√—æ¬å·Ààߪ√–‡∑»‰∑¬ √«¡µ≈Õ¥∂÷ß°“√ªØ‘∫µ— µ‘ “¡¢âÕ°”À𥇰’¬Ë «°—∫°“√‡ªî¥‡º¬¢âÕ¡Ÿ≈°“√∑”√“¬°“√ ‡°’¬Ë «‚¬ß·≈–°“√‰¥â¡“À√◊Õ®”Àπà“¬∑√—æ¬å π‘ ∑’ Ë ”§—≠¢Õß∫√‘…∑— À√◊Õ∫√‘…∑— ¬àÕ¬‚¥¬∫√‘…∑— ®–„Àâ§≥–°√√¡°“√µ√«® Õ∫‡ªìπºŸ„â À⧫“¡‡ÀÁπ‡°’¬Ë « °—∫§«“¡®”‡ªìπ·≈–§«“¡‡À¡“– ¡¢Õß√“¬°“√π—πÈ „π°√≥’∑§’Ë ≥–°√√¡°“√µ√«® Õ∫‰¡à¡§’ «“¡™”π“≠„π°“√æ‘®“√≥“√“¬°“√√–À«à“ß°—π ∑’ËÕ“®‡°‘¥¢÷Èπ ∫√‘…—∑®–‰¥â„À⺟⇙’ˬ«™“≠Õ‘ √–À√◊ÕºŸâ Õ∫∫—≠™’¢Õß∫√‘…—∑‡ªìπºŸ„â À⧫“¡‡ÀÁπ‡°’Ë¬«°—∫√“¬°“√√–À«à“ß°—π¥—ß°≈à“« ‡æ◊ËÕ𔉪 „™âª√–°Õ∫°“√µ—¥ ‘π„®¢Õߧ≥–°√√¡°“√ §à“µÕ∫·∑π¢ÕߺŸâ Õ∫∫—≠™’ 1. §à“µÕ∫·∑π®“°°“√ Õ∫∫—≠™’ (Audit fee) ∫√‘…∑— ·≈–∫√‘…∑— ¬àÕ¬ ®à“¬§à“µÕ∫·∑π°“√ Õ∫∫—≠™’ „Àâ·°à  ”π—°ß“π Õ∫∫—≠™’∑º’Ë  Ÿâ Õ∫∫—≠™’ ß— °—¥„π√Õ∫ªï∫≠— ™’∑º’Ë “à π¡“¡’®”π«π ‡ß‘π√«¡ 1,050,000 ∫“∑ 2. §à“∫√‘°“√Õ◊Ëπ (non-audit fee) ‰¡à¡’


Person who may have conflict of interest Bangkok Commercial Property Fund (BKKCP)

Relation The Company hold 33.3% in the property fund and act as property manager for the Fundûs property.

BKKCP hires the Company to manage the Fundûs property on revenue sharing basis through out the 10 years term with effect from October 30, 2003

Amount (Million Baht)

Necessity / Remark

2.04

The transaction was approved by the Board of Directors at the 9/2003 meeting on 10 September 2003, and the auditors agreed after reviewing and examining the intercompany transaction that the service fees were appropriate and of optimum benefit to the company.

Need for and Appropriateness of Inter-company transactions Inter-company transactions are a necessary element of the Companys efforts to maximize revenues. The inspection Committee is charged with evaluating all such transactions in accordance with generally accepted business practice, and all payments made and received shall be in line with fair market rates. Measures Or Stages In The Inter-Company Transaction Approval Process Proposed inter-company transactions must be submitted for approval to the Bard of Directors. The Inspection Committee must also be present at meetings to examine and approve any such transactions. Both these bodies must comply with the Stocks and Stock Market Act and the rules, regulations and guidelines of the Stock Exchange of Thailand. Executives or other stakeholders involved in the transaction have no part in the approval process. Inter-Company Transaction Policy Or Tendencies Company policy pertaining to possible future inter-company transactions requires that any such transaction be conducted in accordance with general business practices and in line with fair market prices. The Company has assigned the Inspection Committee to review prices, compensation rates and the necessity and appropriateness of all proposed inter-company transactions. In the event of an inter-company transaction with an individual or party that entails or may entail at some time in the future a conflict of interest, the Company must comply with the provisions of the Stocks and Stock Exchange Act and the rules, regulations and guidelines of the Stock Exchange of Thailand. The Company must also conform to transaction disclosure rules and rules pertaining to the acquisition or sale of major assets by the Company or its subsidiaries. The Inspection Committee is responsible for assessing the necessity and appropriateness of any such transaction. In the event that the Inspection Committee does not the expertise required to evaluate a particular intercompany transaction, the Company will appoint an independent expert or the Companyûs auditors to conduct the assessment. This assessment will serve as the basis for any decision made by the Board or the Companyûs shareholders. Details of all such inter-company transactions shall appear in the remarks to the financial statement approved by the Companyûs auditors. Auditorûs Remuneration 1. Audit Fee The Company and its subsidiaries have paid a total of Baht 1,050,000 to Auditing Firm of which those auditors work for in the past fiscal year. 2. Non-audit fee None ANNUAL REPORT 2004 ::: 47


48 ::: √“¬ß“πª√–®”ªï

2547

‚§√ß°“√∑’Ë°”≈—ߥ”‡π‘π°“√ / Present Projects

∫â“πÕ‘  √– æ√–√“¡ 9 ‚§√ß°“√∫â“πÕ‘  √– æ√–√“¡ 9 µ—ßÈ Õ¬Ÿ∑à ´’Ë Õ¬√“¡§”·Àß 24 ∂ππ√“¡§”·Àß À—«À¡“° ∫“ß°–ªî Õ¬Ÿà„π¬à“πæ—°Õ“»—¬ ¡’√–¥—∫ ·«¥≈âÕ¡¥â«¬ ‘ËßÕ”π«¬§«“¡ –¥«°¡“°¡“¬ Õ“∑‘ »Ÿπ¬å°“√§â“ ‚√߇√’¬π ¡À“«‘∑¬“≈—¬™—πÈ π” ‚√ß欓∫“≈ ‡ªìπµâπ °“√§¡π“§¡ –¥«° ∫“¬„°≈â∑“ߥà«π, ¡Õ‡µÕ√凫¬å, ·≈– “¡“√∂‡¢â“ÕÕ°‰¥â®“°∑—Èß∂ππæ—≤π“°“√, √“¡§”·Àß, æ√–√“¡ 9 ·≈–»√’π§√‘π∑√å Baan Issara Rama 9 Baan Issara Rama 9 project is located on Soi Ramkamhaeng 24, Ramkamhaeng Road, Huamark, Bangkapi. Its location is in good residential neighborhood surrounded by many amenities such as mall, school, leading colleges and hospital. Transportation is convenience as it located close to express way, motor way and can be accessed both from Pattanakarn Road, Ramkamhaeng, Rama 9 and Sri Nakarin Road.


‚§√ß°“√¡’‡π◊ÈÕ∑’Ë 27 ‰√à 3 ß“π ¡’∫â“π‡¥’Ë¬« 54 À≈—ß æ√âÕ¡¥â«¬ ‚¡ √  √–«à“¬πÈ”  «π “∏“√≥– ·≈–√–∫∫‰øøÑ“ „µâ¥π‘ ¡’·∫∫∫â“π 6 ·∫∫ ÕÕ°·∫∫‚¥¬∫√‘…∑— A49, ∫√‘…∑— UKD, ∫√‘…—∑ TANDEM ∫â“πÕ‘  √– æ√–√“¡ 9 ®÷ß¡’§«“¡ ‚¥¥‡¥àπ¥â“π ·∫∫∫â“π‡Àπ◊Õ°«à“‚§√ß°“√∑—«Ë ‰ª‡ªìπ·π«§‘¥„À¡à ¢Õß∫â“π∑’ÕË ¬Ÿà „π„®°≈“߇¡◊Õß ∑’µË Õâ ß°“√æ◊πÈ ∑’„Ë ™â Õ¬∑’‡Ë æ’¬ßæÕ °—∫ ¡“™‘°∑ÿ°§π „π§√Õ∫§√—« ·≈– “¡“√∂®Õ¥√∂‚¥¬‰¡à´Õâ π §—π‰¥â¡“°°«à“ 4 §—π ∫â“πÕ‘  √– æ√–√“¡ 9 ¡’∫“â πµ—«Õ¬à“ß„Àâ≈°Ÿ §â“‰¥â ¡— º—  ∫√√¬“°“»¢Õß∫â“π„π√Ÿª·∫∫∑’Ë·µ°µà“ß°—π ·≈–ªí®®ÿ∫—π¡’ ≈Ÿ°§â“∑¬Õ¬‡¢â“Õ¬Ÿ„à π‚§√ß°“√·≈â«  ”À√—∫ß“π°àÕ √â“ß 28 À≈—ß ·√° ·≈⫇ √Á® 90% ¢≥–π’È°”≈—ß°àÕ √â“ß à«π∑’ˇÀ≈◊Õ∑—ÈßÀ¡¥ ´÷Ëߧ“¥«à“®–·≈⫇ √Á®ª√–¡“≥°≈“ߪï 2548 The project has a land area of 27 Rais 3 Ngam comprising of 54 detached house, clubhouse, swimming pool, common park and underground cable. There are 6 designs of detached house by A49, UKD and TANDEM. Baan Issara Rama 9 is outstanding for its house design with city home concept. Floor space are functional and carry enough room for every family members. It also boasts 4 inline car parks. Baan Issara Rama 9 offer several ambiences in different house design. First phase of 20 houses has construction progressed by 90% and some residents has move into their houses. The remaining of the construction is expected to be completed by middle of 2005.

ANNUAL REPORT

2004 ::: 49


50 ::: √“¬ß“πª√–®”ªï

2547

‚§√ß°“√»√’æ—π«“ „π√–À«à“ßªï ‚§√ß°“√‰¥âª√– ∫§«“¡ ”‡√Á®¥â“π°“√ µ≈“¥ ‚¥¬ “¡“√∂∑”¬Õ¥¢“¬√«¡‰¥â∂÷ß 200 ≈â“π∫“∑ ®“° °“√¢“¬«‘≈≈à“ 7 À≈—ß  ¿“æ¿“¬„π‚§√ß°“√‰¥â√—∫°“√æ—≤π“ ‡ªìπ™ÿ¡™π∑’Ë «¬ß“¡¥â«¬ ∂“ªíµ¬°√√¡√à«¡ ¡—¬‡¢µ√âÕπ ‚¥¬ º ¡º “π«—≤π∏√√¡¢Õß™“¬Ωíßò ∑–‡≈Õ—π¥“¡—π ¿“¬„π‚§√ß°“√ ¡’ «‘≈≈à“ 2 À≈—ß, Õ“§“√µâÕπ√—∫,  √–πÈ”√‘¡™“¬À“¥ ·≈–  “∏“√≥Ÿª‚¿§ à«π°≈“ß ·≈⫇ √Á® ¡∫Ÿ√≥å ß“π°àÕ √â“ߢÕßæŸ≈«‘≈≈à“ 11 À≈—ß ·≈–«‘≈≈à“Õ¬ŸàÕ“»—¬ Õ’° 7 À≈—ß ¬—ߧߥ”‡π‘πµàÕ‰ª¥â«¬§«“¡°â“«Àπâ“¢Õßß“π°«à“ 70% ·∫∫«‘≈≈à“Õ¬ŸàÕ“»—¬∫π∑’Ë¥‘π·ª≈ß∑’ˇÀ≈◊Õ‰¥â√—∫°“√ æ—≤π“µàÕ‰ª ‚¥¬¡’·∫∫ 2 Õ“§“√·≈⫇ √Á® ·≈–¬◊Ëπ¢Õ Õπÿ≠“µª≈Ÿ° √â“ß ≥ «—π ‘Èπªï æŸ≈«‘≈≈à“ ¢π“¥æ◊πÈ ∑’°Ë Õà  √â“ß 140-300 µ“√“߇¡µ√ ‰¥â √— ∫ °“√æ— ≤ π“‡æ◊Ë Õ µÕ∫ πÕߧ«“¡µâ Õ ß°“√∫â “ πæ— ° µ“° Õ“°“» ”À√—∫§√Õ∫§√—«‡≈Á° ‡ø ·√°¢ÕßæŸ≈«‘≈≈à“ 40 À≈—ß ª√–°Õ∫‰ª¥â«¬ Õ“§“√æŸ≈«‘≈≈à“ 11 À≈—ß °”≈—ßÕ¬Ÿà„π √–À«à“ß°àÕ √â“ß ´÷Ëߧ“¥«à“®–·≈⫇ √Á®æ√âÕ¡‡ªî¥‰¥â¿“¬„π  ‘Èπ‰µ√¡“ ·√°¢ÕߪïÀπâ“ (2548) ‚§√ß°“√®–¡’°“√∫√‘À“√ ·≈–∑”°“√µ≈“¥·∫∫‚√ß·√¡ „π√–À«à“ß∑’‡Ë ®â“¢Õß∫â“π‰¡à„™âæ°— Õ“»—¬ °“√ÕÕ°·∫∫∫â“π‡©æ“–·ª≈ß ª√– ∫§«“¡ ”‡√Á®‡ªìπ Õ¬à“ߥ’ «‘≈≈à“„π��µà≈–·ª≈ß∑’¥Ë π‘  “¡“√∂‡ªî¥¡ÿ¡¡Õß«‘«∑–‡≈∑’Ë ‰¡à‡À¡◊Õπ„§√ ·≈–¡’æπ◊È ∑’Ë„™â Õ¬ Õ¥§≈âÕß°—∫≈—°…≥–摇»…¢Õß ∑’Ë¥‘π·µà≈–·ª≈ß ·≈–µâπ‰¡â‡¥‘¡ ´÷Ë߉¥â√—∫°“√¥Ÿ·≈√—°…“Õ¬à“ß ¥’ «‘≈≈à“∂Ÿ°æ—≤π“„Àâ°≈¡°≈◊π‰ª°—∫∏√√¡™“µ‘‚¥¬¬—ߧß√—°…“ ¡ÿ¡¡Õß«‘«∑–‡≈∑’Ë «¬∑’Ë ÿ¥

Sri Panwa Annual Report for the fiscal Year 2004 An important milestone has been achieved during the year at Sri Panwa. Seven residential villas were sold with combined sales volume in excess of Baht 200 million. The site has been developed into a refined neighborhood of tropical contemporary in an Ethnic Andaman essence. There were 2 show villas, a reception pavilion, beach pool and central infrastructures completed. The construction works continued on 11 pool villas and 7 residential villas with more than 70% progress. Design for other residential villas has continued on remaining plots. By year end there were 2 residential villa plans completed and filed for construction permit. The pool villa of 140-300 Sq.M. of built up area has been developed to fill the vacation home market for small family. The 11 units of pool villas under construction are considered phase 1 of total 40 unit. Phase 1 is expected to be completed and operational by the end of first quarter next year (2005). The property will also be managed and marketed as boutique hotel for residents while not in use. Custom design for each individual plot has proved to be highly successful. Villa on each plot boasts their unique sea view and floor space which suite its contour and existing trees. Villas are well blended with natural surroundings without sacrificing their optimum sea view.


Sri Panwa ‚§√ß°“√»√’æ—π«“

ANNUAL REPORT

2004 ::: 51


52 ::: √“¬ß“πª√–®”ªï

2547

 √–«à“¬πÈ”√‘¡™“¬À“¥¥â«¬√–‡∫’¬ß‰¡â°«â“ߢ«“ß ·≈– ∑“߇¥‘π‰¡â≈ß Ÿà™“¬À“¥ ∑”„Àâ ‚§√ß°“√¡’»—°¬¿“æ ¡∫Ÿ√≥å  ¡°—∫∫â“πæ—°√‘¡∑–‡≈∑’ËÀ√ŸÀ√“  √–πÈ”π’ȉ¥â‡æ‘Ë¡¡Ÿ≈§à“∑’Ë¥‘π ¢Õß∑—Èß‚§√ß°“√ ¥â«¬≈—°…≥–‡¥àπ¢Õß∑’˵—Èß∫πÀπ⓺“ ¡Õß≈ß Õà“«Õ—π ß∫‡ß’¬∫·≈–‡ªìπ à«πµ—« Õ’°∑—È߬—߇ªìπ∑“ߺà“π≈ß À“¥∑√“¬ ”À√—∫ºŸâÕ¬ŸàÕ“»—¬„π‚§√ß°“√Õ’°¥â«¬ ™◊ÕË »√’æπ— «“ ‰¥â√∫— °“√¬Õ¡√—∫„πµ≈“¥«à“‡ªìπ‚§√ß°“√∑’Ë ¡’§ÿ≥¿“æ ¥â«¬ ∂“ªíµ¬°√√¡∑’Ë ‚¥¥‡¥àπ ∫π∑”‡≈∑’ˉ¡à‡À¡◊Õ𠄧√ ∑’¥Ë π‘ ∫πª≈“¬·À≈¡æ—π«“∑’Ë‚§√ß°“√µ—ßÈ Õ¬Ÿà ¡’««‘ ∑–‡≈¢π“∫ ¢â“ß∂÷ß Õߥâ“π Õ’°∑—È߬—ß –¥«°¥â«¬Õ¬ŸàÀà“ß®“°µ—«‡¡◊Õß ¿Ÿ‡°Áµ‡æ’¬ß 15 π“∑’∑“ß√∂¬πµå «‘«∑–‡≈√Õ∫ Ê ·≈–À“¥ ∑√“¬Õ—π ß∫‡ß’¬∫‡ªìπ à«πµ—« ‡ªìπ≈—°…≥–摇»…¢Õß∑’Ë¥‘𠂧√ß°“√»√’æπ— «“ ´÷ßË ®–‡æ‘¡Ë ¡Ÿ≈§à“„ÀâÕ —ßÀ“√‘¡∑√—æ¬å„πÕ𓧵 µ≈“¥∫â“πæ—°µ“°Õ“°“»√–¥—∫ Ÿß„π¿Ÿ‡°Áµ¬—߉¥â√∫— °“√  π—∫ πÿπ∑’Ë¥’ ¥â«¬§«“¡ π„®®“°µ≈“¥„πª√–‡∑»∑’ˇæ‘Ë¡¢÷Èπ °“√ Õ∫∂“¡¢âÕ¡Ÿ≈·≈–·«–‡¬’¬Ë ¡‚§√ß°“√¢Õß°≈ÿ¡à ≈Ÿ°§â“§π‰∑¬ ‡ªìπ‡§√◊ËÕ߬◊π¬—ߧ«“¡µâÕß°“√¢Õßµ≈“¥¿“¬„πª√–‡∑» ´÷Ëß ‰¡à‡§¬¡’ª√“°Ø¡“°àÕπ„π‚§√ß°“√Õ◊πË Ê √“§“∑’¥Ë π‘ ·ª≈ß «¬Ê ∫π —π‡¢“ ‰¥â∂Ÿ°ª√—∫¢÷Èπæ√âÕ¡æ—∫·ª≈ß∑’ˇÀ≈◊Õ‡π◊ËÕß®“°¡’ ∑’¥Ë π‘ ®”°—¥ „π ¿“«–µ≈“¥∑’¬Ë ß— ¡’§«“¡µâÕß°“√Õ’°¡“° µ≈“¥ «‘≈≈à“„Àâ‡™à“„π¿Ÿ‡°Áµ‡ªìπµ≈“¥∑’¥Ë ¥’ «â ¬Õÿª∑“π∑’®Ë ”°—¥¢Õß ‘π§â“ Õ’°∑—ßÈ ¬—ß¡’√“¬ß“π°“√«‘®¬— ¢ÕßÕÿª ß§å∑’ˉ¡à‰¥â√∫— °“√µÕ∫ πÕß ‡π◊ÕË ß®“°¡’π°— ∑àÕ߇∑’¬Ë «µ≈“¥∫π π„®‡¢â“æ—°„πæŸ≈«‘≈≈à“¡“°„π  ¿“«–∑’Ë ‘π§â“„πµ≈“¥¡’®”π«π®”°—¥


The Beach Pool with extensive wooden decks and boardwalk to the beach complete another dimension of luxurious sea front property. With its stunning location on the cliff overlooking exclusive cove, the facilities has added significant value to the entire project and provided direct beach access to residents. Sri Panwa brand has gradually been established with market awareness for quality development of outstanding architecture on unique location. The headland of Cape Panwa gives the site a rare two sides ocean front exposure, yet within 15 minutes drive from the convenience of downtown Phuket. The surrounding seascape and exclusive beach access are part of the site没s property which will only appreciate over many years to come. The market for luxury vacation home in Phuket has remained strong with a growing interest from domestic market. Several site visits and strong enquiries indicate the interest of Thai buyers which has never before been recorded in other projects. Price for limited property on the ridge has been adjusted along with the rest of the project to reflect its immediate appreciation in light of limited supply. Rental market for pool villas has been good for limited supplies on the island. It has been reported on the existence of unaccomodated demand for pool villas due to strong demand from up market travelers in light of limited supply.

ANNUAL REPORT

2004 ::: 53


54 ::: √“¬ß“πª√–®”ªï

2547

‚§√ß°“√∫â“π‡æ≈‘π∑–‡≈ ‚§√ß°“√∫â “ π‡æ≈‘ π ∑–‡≈ (™–Õ”-À— « À‘ π ) ‡ªì π §Õπ‚¥¡‘‡π’¬¡ Low-Rise  Ÿß 4 ™—πÈ 7 Õ“§“√ √“§“‡√‘¡Ë µâπ∑’Ë 217 ≈â“π∫“∑ ¡’æπ◊È ∑’„Ë ™â Õ¬µ—ßÈ ·µà 50-270 µ“√“߇¡µ√ ®”π«π 114 ¬Ÿπµ‘ µ‘¥™“¬∑–‡≈Àπâ“°«â“ß 65 ‡¡µ√  “¡“√∂√—∫ “¬≈¡ ·≈–°≈‘Ë π Õ“¬¢Õß∑–‡≈‰¥â ∑ÿ ° æ◊È π ∑’Ë ¿ “¬„πÀâ Õ ß √«¡∂÷ ß ∫√√¬“°“»¢Õ߇æ◊ÕË π∫â“π∫√‘‡«≥√Õ∫Ê ‚§√ß°“√ Õ“∑‘ ‚√ß·√¡ √–¥—∫Àâ“¥“« Õ¬à“ß‚√ß·√¡«‘√π— ¥“ √’ Õ√å∑·Õπ¥å  ª“, ‚√ß·√¡ √’‡®π∑å ™–Õ” ∫’™ √’ Õ√å∑, ‚√ß·√¡ ª√‘ßøî≈¥å ∫’™ √’ Õ√å∑ œ≈œ „πªï 2547 ‚§√ß°“√∫â“π‡æ≈‘π∑–‡≈ ‰¥â√—∫°“√µÕ∫√—∫ ®“°≈Ÿ°§â“‡ªìπÕ¬à“ߥ’ ‚¥¬¡’¬Õ¥¢“¬∑—Èß‚§√ß°“√°«à“ 90% ®“°ªí®®—¬∑’ Ë ßà º≈„Àâ¬Õ¥¢“¬æÿßà  Ÿß‡æ√“–®ÿ¥‡¥àπ¢Õß‚§√ß°“√ ∑’Ë¡’∑”‡≈∑’˵—Èßµ‘¥™“¬À“¥°«â“ß  –Õ“¥·≈–‡ß’¬∫ ß∫ ·≈–¡’ §«“¡‡ªìπ à«πµ—« ´÷ßË ‡™◊ÕË «à“∑”‡≈∑’µË ß—È Õ¬à“ßπ’πÈ ∫— «—π®–À“‰¥â¬“° ¢÷πÈ πÕ°®“°π’¥È “â π°“√ÕÕ°·∫∫·≈–µ°·µàß„π ‰µ≈å√«à ¡ ¡—¬ Tropical Contemporary ∑’˺ ¡º “𧫓¡ß“¡ ·≈–§«“¡  –¥«° ∫“¬√à«¡°—π Baan Pleon Talay Project Baan Pleon Talay Project (Cha-am - Hua Hin) is a low rise condominium by the sea of 65 meters sea-front. The project comprise of 7 four-storey buildings of 114 units ranging in size from 50-270 Sq.m. of usable space. Every square meters of the unit are exposed to sea breeze and a refreshing sea-side ambience. Selling price start at Baht 2-17 million. The project is located among good neighborhood such as 5-star hotels Viranda Rsort & Spa, Regent Cha-am Beach Resort, Springfield Beach Resort etc. In 2004 Baan Pleon Talay project received a warm welcome from the market. It recorded sale of over 90% due to its outstanding features of the project. It has good location by clean and prestige beach with rare privacy. The project is also outstanding in its design of Modern Contemporary which well combine beauty and convenience.


Õ“§“√™“≠Õ‘  √– ∑“«‡«Õ√å 2 Õ“§“√™“≠Õ‘  √– ∑“«‡«Õ√å 2 µ—ÈßÕ¬Ÿà∫π∂ππ‡æ™√∫ÿ√’ µ—¥„À¡à °√ÿ߇∑æ¡À“π§√ ∫πæ◊πÈ ∑’„Ë ™â Õ¬ 4 ‰√à 3 ß“π Õ“§“√ Ÿß 36 ™—Èπ æ◊Èπ∑’Ë„™â Õ¬√«¡ 58,000 µ√.¡. æ√âÕ¡≈“π®Õ¥ ‡Œ≈‘§Õª‡µÕ√å√–¥—∫¡“µ√“∞“π “°≈∑’™Ë π—È ¥“¥øÑ“·≈–¡’∑®’Ë Õ¥√∂ °«à“ 900 §—π ªí®®ÿ∫—π¡’≈Ÿ°§â“‡¢â“Õ¬Ÿà·≈â« 95% Õ“∑‘ ∫√‘…—∑´’‡¡π å ®”°—¥ ∫√‘…—∑‡¥Õ–·«≈≈Ÿ ´‘ ‡µ¡ å ®”°—¥ ∫√‘…—∑π§√À≈«ß ·ø§µÕ√’ßË ®”°—¥ ∫√‘…∑— ∫Ÿ∑ å√‡’ ∑≈ (ª√–‡∑»‰∑¬) ®”°—¥ ∫√√…—∑ ª√–°—π ‘π‡™◊ËÕÕÿµ “À°√√¡¢π“¥¬àÕ¡ ∫√‘…—∑ ¬“¡´—¡´ÿß ª√–°—π™’«‘µ ®”°—¥ °≈ÿà¡∫√‘…—∑‰∑¬¬Ÿ√’‡∑πæ≈“ µ‘° ®”°—¥ ‡ªìπµâπ Charn Issara Tower II Charn Issara Tower II Building is located on New Petchburi Road, Bangkok on 4 Rais 3 Ngan plot of land. The 36-storey office building carry usable area of 58,000 Sq.m. with helipad and car park of more than 900 cars. The building is now 95% occupied with some leading tenants such as Siemens Limited, The Value Systems Co., Ltd., Small Industry Credit Guarantee Corporation, Boots Retail (Thailand) Ltd., Siam Samsung Life Insurance Co., Ltd., Thai Urethane Plastic Co., Ltd., etc.

ANNUAL REPORT

2004 ::: 55


56 ::: √“¬ß“πª√–®”ªï

2547

Õ‘  √– ‡æ≈  ‚§√ß°“√Õ‘  √– ‡æ≈  µ—ßÈ Õ¬Ÿµà ¥‘ °—∫Õ“§“√™“≠Õ‘  √– ∑“«‡«Õ√å 2 ∂ππ‡æ™√∫ÿ√µ’ ¥— „À¡à ‡ªìπÕ“§“√ Ÿß 6 ™—πÈ 1 Õ“§“√, 1.5 ™—Èπ 1 Õ“§“√ ¡’æ◊Èπ∑’Ë„™â Õ¬ª√–¡“≥ 3,443 µ√.¡. ∫π∑’Ë µ—Èß 5 ‰√à æ√âÕ¡∑’ˮե√∂¡“°∂÷ß 150 §—π ß“πª√—∫ª√ÿßÕ“§“√·≈⫇ √Á® ª√–¡“≥‡¥◊Õπ‡¡…“¬π 2547 ªí®®ÿ∫—π¡’ºŸâ‡™à“‡¢â“Õ¬Ÿà·≈â« 26% ·≈–„πªï 2548 §“¥«à“ ®– “¡“√∂ ‡æ‘Ë¡Õ—µ√“°“√‡¢â“Õ¬Ÿà‰¥â‡ªìπ 75% „π ‘Èπªï 2548

Issara Place Issara Place Project located next to Charn Issara Tower II building on New Petchburi Road. The project is a 6-storey building and a one and a half storey building with conbined usable area of 4,339 Sq.m. on 5 rais plot of land with parking lot for more than 150 cars. The building renovation works was completed in April 2004. The building is now 26% occupied and it is expected that by the end of 2005 the occupancy rate can reach 75%.


°Õß∑ÿπ√«¡Õ —ßÀ“√‘¡∑√—æ¬å∫“ß°Õ° ∫√‘…—∑œ ‰¥â®—¥µ—Èß°Õß∑ÿπ√«¡Õ —ßÀ“√‘¡∑√—æ¬å∫“ß°Õ° ‚¥¬°Õß∑ÿπ√«¡œπ’È≈ß∑ÿπ„πÕ“§“√™“≠Õ‘  √–∑“«‡«Õ√å ∂ππ æ√–√“¡ ’Ë ‡π◊ÈÕ∑’Ë 6,917.64 µ“√“߇¡µ√ ·≈–Õ“§“√™“≠Õ‘   √–∑“«‡«Õ√å 2 ∂ππ‡æ™√∫ÿ√’µ—¥„À¡à ‡π◊ÈÕ∑’Ë 22,468.60 µ“√“‡¡µ√ ‚¥¬¢π“¥°Õß∑ÿπ¡’¡Ÿ≈§à“ 1,000 ≈â“π∫“∑ ∫√‘…—∑œ ‰¥â√∫— ·µàßµ—ßÈ ‡ªìπºŸ∫â √‘À“√Õ —ßÀ“√‘¡∑√—æ¬å (Property Manager) ·≈–ºŸâ®—¥°“√Õ —ßÀ“√‘¡∑√—æ¬å (Asset Manager) Õ“§“√∑—Èß  Õß·Ààß ‚¥¬∫√‘…∑— œ ≈ß∑ÿπ„π°Õß∑ÿπ√«¡Õ —ßÀ“√‘¡∑√—æ¬å‚¥¬∂◊Õ Àπ૬≈ß∑ÿπ 33% ¢Õß°Õß∑ÿπ√«¡œ ®ÿ¥‡¥àπ¢Õß°Õß∑ÿπ√«¡ Õ —ßÀ“√‘¡∑√—æ¬å∫“ß°Õ° §◊Õ °Õß∑ÿπ√«¡œ ‰¥â√—∫¬°‡«âπ¿“…’ ‡ß‘π‰¥â𑵑∫ÿ§§≈ ºŸâ∑’Ë≈ß∑ÿπ„π°Õß∑ÿπ√«¡œ  “¡“√∂‡ªìπ ‡®â“¢ÕßÕ —ßÀ“√‘¡∑√—æ¬å ‚¥¬ºà“π°“√∂◊ÕÀπ૬≈ß∑ÿπ·≈–®– ‰¥âº≈µÕ∫·∑π‡ªìπ‡ß‘πªíπº≈´÷Ëß®–®à“¬ªï≈–‰¡à‡°‘π 4 §√—Èß ‚¥¬®à“¬®“° 90% ¢Õß°”‰√ ÿ∑∏‘„π·µà≈–ªï πÕ°®“°π’ÈÀπ૬ ≈ß∑ÿπ„π°Õß∑ÿπ√«¡œ π’È  “¡“√∂´◊ÈÕ¢“¬„πµ≈“¥À≈—°∑√—æ¬å ·Ààߪ√–‡∑»‰∑¬„πÀ¡«¥Õ —ßÀ“√‘¡∑√—æ¬å ®“°°“√®—¥µ—ßÈ °Õß∑ÿπ√«¡¥—ß°≈à“«‡ªìπº≈¥’°∫— ∫√‘…∑— ‚¥¬∫√‘…—∑‡ª≈’ˬπ‚§√ß √â“ß√“¬‰¥â®“°√“¬‰¥â§à“‡™à“¡“‡ªìπ √“¬‰¥â®“°°“√∫√‘À“√ß“π„Àâ°Õß∑ÿπ√«¡œ √“¬‰¥â‡ß‘πªíπº≈ πÕ°®“°π’È∫√‘…—∑œ Õ“®‰¥â Capital Gain °√≥’√“§“Àπ૬ ≈ß∑ÿπ Ÿß¢÷πÈ ∫√‘…∑— œ 欓¬“¡¢¬“¬°Õß∑ÿπ√«¡œ ‡ªìπ 2,000 - 3,000 ≈â“π∫“∑ ‚¥¬°“√π”Õ —ßÀ“√‘¡∑√—æ¬å∑’Ë¡’»—°¬¿“æ„π°“√°àÕ „À⇰‘¥√“¬‰¥â‡¢â“°Õß∑ÿπ√«¡œ ‡æ◊ËÕ∑”„Àâ°Õß∑ÿπ√«¡œ ‡µ‘∫‚µ ·≈–¢¬“¬‡æ‘¡Ë ¢÷πÈ ‡æ◊ÕË  √â“ߧ«“¡¡—πË §ß (Wealth) „Àâ°∫— ºŸ∑â ≈’Ë ß∑ÿπ „π°Õß∑ÿπ√«¡œ

Bangkok Commercial Property Fund The Company has incorporated a Baht 1,000 million Bangkok commercial Property Fund. The fund has invested in a 6,917.64 Sq.m. Charn Issara Tower on Rama 4 Road and a 22,468.60 Sq.m. Charn Issara Tower II on New Petchburi Road. The Company was appointed Property Manager and Asset Manager for both buildings. The Company invested 33% in the property fund. An apparent advantage of Bangkok Property Fund is an exception from corporate revenue tax. Investor can become property owner through holding units in the property fund which will be entitled to dividend payment of op to out of 90% of net profit of each 4 times a year. Moreover, the unit in the property fund can be traded in the Stock Exchange of Thailand under property business category. The incorporation of property fund give the Company a good balance of revenue from rental base to management fees and dividend base. In addition the Company may receive a capital gain in the event of increasing trading price of units. The Company is trying to expand the size of property fund to Baht 2,000 - 3,000 million by injection of revenue generated property into the fund in anticipation of growth and ultimate wealth to investors in the Fund.

ANNUAL REPORT

2004 ::: 57


58 ::: √“¬ß“πª√–®”ªï

2547

°“√æ—≤π“∑’Ë¥‘π∑’Ë IRD IRD ‡ªìπ‡®â“¢Õß∑’Ë¥‘π°«à“ 1,000 ‰√à ∫π∂ππÕàÕππÿ™‡∑æ√“™ ∑“ßµ–«—πÕÕ°¢Õß π“¡∫‘ππ“π“™“µ‘  ÿ«√√≥¿Ÿ¡‘ æ◊Èπ∑’Ë¥—ß°≈à“«®–Õ¬Ÿà„π‚§√ß°“√æ—≤π“‡¡◊Õß„À¡à√Õ∫ π“¡∫‘π  ÿ«√√≥¿Ÿ¡‘ ´÷Ëß®–‡ªìπ‡¡◊Õß∫√‘«“√√Õ∫ π“¡∫‘π æ√âÕ¡ √√æ ¥â«¬√–∫∫¢π àß¡«≈™π ·≈–‡§√◊Õ¢à“¬∑“ßÀ≈«ß ∑’Ë®– àߺ≈ „À⇰‘¥™ÿ¡™πÕ¬ŸàÕ“»—¬ ·≈– —π∑π“°“√∑’Ë¥’ °“√æ—≤π“∑’Ë¥‘𥔇π‘πµàÕªï∑’˺à“π¡“ æ√âÕ¡°—∫°“√ æ—≤π“∑’Ë¥‘π∫π‡π◊ÈÕ∑’Ë 384 ‰√à ´÷Ë߉¥â¢“¬„À⺟âæ—≤π“ π“¡‚ª‚≈  π“¡°Õ≈åø æ√âÕ¡¡’°“√æ—≤π“∑’ËÕ¬ŸàÕ“»—¬ High end Õ’° ·≈–»Ÿπ¬å°Ã’ “ ∂ππ¿“¬„π‚§√ß°“√‰¥â√∫— °“√¢¬“¬µàÕ‡π◊ÕË ß ‡æ◊ÕË ‡™◊ËÕ¡∑“߇¢â“Õ’°¥â“π°—∫∂ππ√—µπ‚° ‘π∑√å 200 ªï πÕ°®“°π’È ¬—ß¡’°“√°àÕ √â“߇¢◊ËÕπ¥‘π°—ππÈ”∑à«¡√Õ∫æ◊Èπ∑’Ë∫“ß à«πÕ’°¥â«¬ ‚§√ß°“√µ—ÈßÕ¬Ÿà∫π∑”‡≈∑’Ë –¥«°  ”À√—∫°“√‡¥‘π∑“ß ®“°„®°≈“ß°√ÿ߇∑æ¡À“π§√ ‚¥¬ “¡“√∂‡≈◊Õ°‡¥‘π∑“ß ‚¥¬ √∂¬πµå‰¥âÀ≈“¬‡ âπ∑“ß ‰¡à«“à ®–‡ªìπ∑“ߥà«π摇»… ¡Õ‡µÕ√凫¬å ºà“π∑“ß≈ßÕàÕππÿ™ À√◊Õ ∑“ߥà«π∫“ßπ“-∫“ߪ–°ß ºà“π ∑“ß∂ππ√—µπ‚° ‘π∑√å 200 ªï ‚§√ß°“√¬—ß¡’æ◊Èπ∑’Ë¥â“πÀπ÷Ëß µ‘¥§≈Õßæ√–Õߧ凮Ⓣ™¬“πÿ™‘µ ´÷Ë߇ªìπ§≈Õß™≈ª√–∑“π∑’Ë  ”§—≠ °“√æ—≤π“∑’Ë¥‘π∫π‡π◊ÈÕ∑’Ë 384 ‰√à ¡’§«“¡§◊∫Àπâ“∑’Ë¥’ ‡¡◊ËÕ·≈⫇ √Á®„πµâπªïÀπâ“ (2548)  ‚¡ √°’Ó ·≈–‚ª‚≈ æ√âÕ¡ π“¡°Õ≈åø 9 À≈ÿ¡ √«¡∑—Èß∫â“πÕ¬ŸàÕ“»—¬√–¥—∫ Ÿß Õ’° ®”π«πÀπ÷Ëß ®– “¡“√∂‡æ‘Ë¡¡Ÿ≈§à“∑’Ë¥‘π∑’ˇÀ≈◊Õ‰¥â‡ªìπÕ¬à“ߥ’ ‚§√ß°“√∑”∂ππ¿“¬„πµàÕ‡π◊ËÕß®–∑”„Àâ “¡“√∂‡ªî¥°“√ ®√“®√ Ÿà„®°≈“ß∑’Ë¥‘𠇙◊ËÕ¡µàÕ∑“߇¢â“¥â“π∂ππ‡∑æ√“™ °—∫ ∑“߇¢â“¥â“π∂ππ√—µπ‚° ‘π∑√å 200 ªï ∂ππ¥â“π∑“߇¢â“∂ππ ‡∑æ√“™®–‰¥â√∫— °“√ª√—∫ª√ÿß‡æ‘¡Ë ‡µ‘¡‡ªìπ∂ππ≈“¥¬“ß·Õ øí ∑å æ√âÕ¡∑àÕ√–∫“¬πÈ”¢â“ß∑“ß º—ß√«¡ ”À√—∫°“√æ—≤π“∑’¥Ë π‘ ∑’‡Ë À≈◊Õ°”≈—ßÕ¬Ÿ„à π√–À«à“ß ÕÕ°·∫∫ ´÷Ëß®–∂Ÿ°„™â‡ªìπ·π«∑“ß„π°“√æ—≤π“∑’Ë¥‘π·≈–·∫àß ‡ø µàÕ‰ª

Land Development at IRD IRD currently own a significant land bank of over 1,000.- Rais East of Suwanabhumi International Airport on Onnuch-Theparaj Road. The area is highly exposed to the development of Airport City, a new suburban satellite town around the airport. With mass transit planned and road networks under construction and expansion the area will soon become a prime residential & recreational neighborhood. The land development continued from previous year along with the land development on 384 Rais parcel which was sold to a prominent developer of Polo & Sport Club. There has been a construction of extended road to open another entrance on Rattanakosin 200 years road and flood protection dyke along part of the property parameter. The site is located within convenience distance from Bangkok CBD. Access to the site can be made either on motorway via Onnuch exit or on Bangna Expressway via Rattanakosin 200 years road. The site is bounded on one side by Klong Praong Chao Chiyanuchit, an important irrigation canal. The development on 384 Rais has progressed well. Upon completion expected by early next year (2005) the Polo & Sport Club with 9 holes golf course and some up market residential housings will significantly add value to the remaining land bank. The road extension project will enable the traffic through the heart of landbank joining Theparaj access with another access on Rattanakosin 200 years. The access road on Theparaj will be upgraded to be asphaltic surface with side drainage. Masterplan for the remaining land bank is being prepared and once completed will be used as a guidance for land development and phasing.


«‘‡§√“–Àå∞“π–°“√‡ß‘π·≈–º≈°“√¥”‡π‘πß“π Financial and Operation Results Analysis «‘‡§√“–Àå∞“π–°“√‡ß‘π·≈–º≈°“√¥”‡π‘πß“π º≈°“√¥”‡π‘πß“π¢Õß∫√‘…—∑ ™“≠Õ‘ √– ¥’‡«≈ÁÕª‡¡π∑å ®”°—¥ (¡À“™π) ·≈–∫√‘…—∑¬àÕ¬  ”À√—∫ªï æ.».2547 ¡’¬Õ¥ √“¬‰¥â√«¡ 555 ≈â“π∫“∑ ‡¡◊ËÕ‡ª√’¬∫‡∑’¬∫°—∫ªï æ.».2546 ∑’Ë ‰¡à√«¡√“¬‰¥â®“°°“√®”Àπà“¬ÀâÕß™ÿ¥„πÕ“§“√™“≠Õ‘ √– ∑“«‡«Õ√å 1 ·≈– 2 ®”π«π 711 ≈â“π∫“∑ ´÷Ë߇ªìπ°“√¢“¬ §√—È߇¥’¬«„Àâ°—∫°Õß∑ÿπ√«¡Õ —ßÀ“√‘¡∑√—æ¬å∫“ß°Õ° ´÷Ëß∫√‘…—∑ ∂◊ÕÀπ૬≈ß∑ÿπÕ¬Ÿà 33.3% ·≈â« ®–¡’√“¬‰¥â√«¡‡æ’¬ß 230 ≈â“π ∫“∑ π—∫«à“¡’√“¬‰¥â‡æ‘¡Ë ¡“°¢÷πÈ 325 ≈â“π∫“∑ À√◊Õ§‘¥‡ªìπ 141% ´÷Ë߇°‘¥√“¬‰¥â®“°°“√¢“¬∫â“π·≈–∑’Ë¥‘π „π‚§√ß°“√∫â“πÕ‘ √– æ√–√“¡‡°â“ ‚§√ß°“√∫â“πæ—°µ“°Õ“°“»»√’æπ— «“ ®—ßÀ«—¥¿Ÿ‡°Áµ ·≈–√—∫√Ÿâ√“¬‰¥â∫“ß à«π®“°°“√¢“¬§Õπ‚¥µ“°Õ“°“» ∑’Ë Õ”‡¿Õ™–Õ” ®—ßÀ«—¥‡æ™√∫ÿ√’ „ππ“¡‚§√ß°“√∫â“π‡æ≈‘π∑–‡≈ √«¡·≈⫇ªìπ‡ß‘π 424 ≈â“π∫“∑ ¡“°°«à“ªï 2546 ´÷Ëß¡’¬Õ¥¢“¬ ‚§√ß°“√‡À≈à“π’È‡æ’¬ß 46 ≈â“π∫“∑ ‚¥¬‡æ‘Ë¡¢÷Èπ 378 ≈â“π∫“∑ ∂÷ß·¡â«à“√“¬‰¥â§à“‡™à“·≈–§à“∫√‘°“√ „πªï 2547 ®”π«π 87 ≈â“π∫“∑ ®–≈¥≈ß®“°ªï 2546 47 ≈â“π∫“∑ ‡π◊ËÕß®“°æ◊Èπ∑’Ë ‡™à“∫“ß à«π∂Ÿ°‚Õπ¢“¬„Àâ°∫— °Õß∑ÿπ√«¡Õ —ßÀ“√‘¡∑√—æ¬å∫“ß°Õ° ´÷Ëß∫√‘…—∑∂◊ÕÀπ૬≈ß∑ÿπÕ¬Ÿà 33.3% ´÷Ëß∫√‘…—∑¡’ à«π·∫àߺ≈°”‰√ ®“°‡ß‘π≈ß∑ÿπ¥—ß°≈à“« 20 ≈â“π∫“∑ „πªï 2547 ´÷Ëß∑¥·∑π°—∫ √“¬‰¥â∑’ËÀ“¬‰ª √“¬‰¥â®“°§à“∏√√¡‡π’¬¡∫√‘À“√ß“π≈¥≈ß 20 ≈â“π∫“∑ ‡π◊ËÕß®“°ß“π∑’Ë√—∫∫√‘À“√∫“ß à«π®∫‚§√ß°“√·≈â«„π ªï 2546  à«π√“¬‰¥âÕ◊Ëπ Ê ≈¥≈ߪ√–¡“≥ 6 ≈â“π∫“∑ ∫√‘…∑— ¡’°”‰√¢—πÈ µâπ®“°°“√¢“¬∫â“π·≈–∑’¥Ë π‘ „π‚§√ß°“√ ª√–¡“≥ 30% ‡ªìπ‡ß‘π 127 ≈â“π∫“∑ ·≈–¡’°”‰√¢—Èπµâπ®“° §à“‡™à“·≈–§à“∫√‘°“√ 32% §‘¥‡ªìπ‡ß‘π 28 ≈â“π∫“∑ ´÷Ëß√«¡∑—Èß  Õß à«πª√–¡“≥ 155 ≈â“π∫“∑ ‡ª√’¬∫‡∑’¬∫°—∫ªï 2546 ´÷Ëß √«¡°“√¢“¬ÀâÕß™ÿ¥„Àâ°—∫°Õß∑ÿπ√«¡Õ —ßÀ“√‘¡∑√—æ¬å∫“ß°Õ° ¥â«¬ ®–¡’°”‰√¢—Èπµâπ‡æ’¬ß 123 ≈â“π∫“∑ ‡æ‘Ë¡¢÷Èπª√–¡“≥ 22 ≈â“π∫“∑

Financial and Operating Results Analysis The operating results of Charn Issara Development Public Co.,Ltd. and its subsidiaries for the fiscal year 2004 yield a total revenue of Baht 555 million. Comparing to that of fiscal year 2003 excluding the revenue from the single sale of condominium units in Charn Issara Tower I and II to Bangkok Commercial Property Fund where the Compay hold 33.3% of its units totaled Baht 711 million, the revenue had increased by Baht 325 million, equivalent to 141% increased. The increased revenue derived from the land and house sale in Baan Issara Rama 9 project, Sri Panwa Project in Phuket and a partial revenue realization from the sale of resort condominium, Baan Pleon Talay at Amphur Cha Am, Petchburi Province totaled Baht 424 million which was an increase of Baht 378 million from that of 2003 when total sales from those projects was only Baht 46 million.. Although the rental and services revenue in 2004 of Baht 87 million was a reduction of Baht 47 million from that of 2003 due to the transfer of part of the rental space to Bangkok Capital Fund where the Company hold 33.3%, the Company has received a profit sharing from that investment of Baht 20 million in 2004 which made up the reduced rental and services revenue. The management fee was reduced by Baht 20 million due to some projects under management had been completed in 2003. Other revenue was reduced by Baht 6 million. The Company has some 30% Gross profits from land and house sale in various projects totaled Baht 127 million. It has Baht 28 million Gross profit or 32% from rental and service revenue. Its total revenue, combining those two parts, equivalent to Baht 155 ANNUAL REPORT

2004 ::: 59


60 ::: √“¬ß“πª√–®”ªï

2547

·µà„πªï 2547 ∫√‘…∑— ¡’§“à „™â®“à ¬„π°“√¢“¬·≈–°“√∫√‘À“√ ®”π«π 133 ≈â“π∫“∑ ‡æ‘Ë¡¢÷Èπ®“°ªï 2546 ®”π«π 60 ≈â“π ∫“∑ ´÷Ëß§à“„™â®à“¬∑’ˇæ‘Ë¡¢÷Èπ à«π„À≠à‡ªìπ§à“„™â®à“¬„π°“√‚Õπ Õ —ßÀ“√‘¡∑√—æ¬å ‡™àπ §à“∏√√¡‡π’¬¡°“√‚Õπ ¿“…’∏ÿ√°‘®‡©æ“– ·≈–§à“π“¬Àπâ“ πÕ°®“°π’È„πªï 2547 ∫√‘…—∑¬—ß¡’§à“„™â®à“¬„π °“√‚¶…≥“ ·≈– à߇ √‘¡°“√¢“¬¡“°¢÷Èπ®“°°“√‡ªî¥µ—« ‚§√ß°“√∫â“π‡æ≈‘π∑–‡≈ ∑’ËÕ”‡¿Õ™–Õ” ®—ßÀ«—¥‡æ™√∫ÿ√’ ´÷Ëß„™â ß∫ª√–¡“≥ 10 ≈â“π∫“∑ ·≈–ªí®®ÿ∫—π¡’¬Õ¥¢“¬·≈â«°«à“ 80% ¢Õß‚§√ß°“√ ´÷ßË ®– “¡“√∂∑¬Õ¬√—∫√Ÿ√â “¬‰¥â «à π„À≠à„πªï 2548 ®“°°“√‡æ‘Ë ¡ ¢÷È π ¢Õß§à “ „™â ®à “ ¬„π°“√¢“¬·≈–°“√ ∫√‘À“√¥—ß°≈à“«∑”„Àâ„πªï 2547 ∫√‘…—∑¡’°”‰√°àÕπ¥Õ°‡∫’Ȭ ®à“¬·≈–¿“…’‡ß‘π‰¥â 66 ≈â“π∫“∑ ≈¥≈ß®“°ªï 2546 ®”π«π 18 ≈â“π∫“∑ „π¢≥–∑’Ë¥Õ°‡∫’Ȭ®à“¬„πªï 2547 ≈¥≈ߪ√–¡“≥ 2 ≈â“π∫“∑ ‡π◊ÕË ß®“°∫√‘…∑— ∑¬Õ¬™”√–Àπ’‡È ß‘π°Ÿ√â –¬– —πÈ ‰ª∫“ß à«π ªï 2547 ∫√‘…—∑‡ ’¬¿“…’‡ß‘π‰¥â ®”π«π 8.6 ≈â“π∫“∑¡“°°«à“ªï 2546 ®”π«π 6.8 ≈â“π∫“∑ ´÷Ë߇ªìπ¿“…’‡ß‘π‰¥â∑’˵âÕß™”√–¢Õß ∫√‘…∑— ¬àÕ¬  à«π∫√‘…∑— ™“≠Õ‘ √– ¥’‡«≈ÁÕª‡¡π∑å ®”°—¥ (¡À“™π) ‡Õ߬—ß¡’º≈¢“¥∑ÿπ – ¡π”¡“„™âÀ—°°≈∫ ®÷߬—߉¡àµâÕ߇ ’¬¿“…’ ‡ß‘π‰¥â„πªïπ’È °”‰√ ÿ∑∏‘¢Õß∫√‘…—∑„πªï 2547 ‡∑à“°—∫ 40.8 ≈â“π∫“∑ ≈¥≈ß®“°ªï 2546 29.2 ≈â“π∫“∑ ‡π◊ËÕß®“°„πªï 2546 ¡’°“√ ®”Àπà“¬ÀâÕß™ÿ¥„Àâ°∫— °Õß∑ÿπ√«¡Õ —ßÀ“√‘¡∑√—æ¬å∫“ß°Õ°„π§√—ßÈ ‡¥’¬« ®”π«π 711 ≈â“π∫“∑ ´÷Ëß¡’°”‰√ 56 ≈â“π∫“∑

million, an increase of Baht 22 million from that of previous year of Baht 123 million when the revenue from sale of condominium units to Bangkok Commercial Property Fund was taken into account. However, the Company has incurred higher sales and administrative expenses of Baht 133 million, an increase of Baht 60 million from that of 2003. Most of the increased expenses were associated with transfer of property such as transfer fees, special business tax, and sales commissions. In addition, in the year 2004 the Company has incurred an increasing advertising and sales promotion expenses in relation to the launch of Baan Pleon Talay Project, Cha Am, Petchburi Province. The expenses of such project launch was Baht 10 million which led to sale of more than 80% of the project. Most of the revenue from sales in the project can be recorded in the fiscal year 2005. From the increase of sales and administrative expenses in the year 2004 the Company has a profit before interest and tax of Baht 66 million, a reduction of Baht 18 million from that of 2003. In the meantime, interest expense in 2004 was decreased by Baht 2 million due to the partial short term loan repayment. In 2004 the Company had paid an income tax of Baht 8.6 million, an increased from that of 2003 by Baht 6.8 million. Those income taxes derived from subsidiary Companies while Charn Issara Development Public Co.,Ltd. was still under tax shelter from loss carried forward.


”À√— ∫ ∞“π–°“√‡ß‘ π ¢Õß∫√‘ …— ∑ œ „πªï 2547 ¡’  ‘π∑√—æ¬å√«¡ 1,646 ≈â“π∫“∑ ‡æ‘Ë¡¢÷Èπ®“°ªï 2546 231 ≈â“π ∫“∑  ‘π∑√—æ¬å∑‡’Ë æ‘¡Ë ¢÷πÈ  à«π„À≠à §◊Õ ‚§√ß°“√√–À«à“ß°“√æ—≤π“ ´÷ßË ¡’§«“¡§◊∫Àπâ“„π°“√°àÕ √â“ߢÕß‚§√ß°“√µà“ß Ê ‡æ◊ÕË „À⇠√Á® ·≈–‚Õπ„Àâ°—∫≈Ÿ°§â“‰¥â ‚¥¬‡æ‘Ë¡¢÷Èπª√–¡“≥ 163 ≈â“π∫“∑ ·≈–√“¬‰¥â∑’ˬ—߉¡à‰¥â‡√’¬°™”√–- ÿ∑∏‘ ®”π«π 88 ≈â“π∫“∑ ´÷Ëß √“¬‰¥â∑’ˬ—߉¡à‰¥â‡√’¬°™”√–- ÿ∑∏‘π’È ‡ªìπ√“¬‰¥â∑’ˬ—߉¡à‰¥â‡√’¬° ‡°Á∫®“°≈Ÿ°§â“‡π◊ËÕß®“°¬—߉¡à∂÷ß°”Àπ¥™”√– ·µà∫√‘…—∑≈ß ∫—π∑÷°∫—≠™’‡ªìπ√“¬‰¥âµ“¡º≈ ”‡√Á®¢Õßß“π ´÷ßË ‡ªìπ‰ªµ“¡À≈—° °“√∑“ß∫—≠™’∑’Ë√—∫√Õß‚¥¬∑—Ë«‰ª „πªï 2547 ∫√‘…—∑¡’Àπ’È ‘π‡æ‘Ë¡¢÷Èπ 209 ≈â“π∫“∑ ‡ªìπ 876 ≈â“π���“∑  à«π„À≠à‡ªìπÀπ’È ‘π®“°‡ß‘π°Ÿâ√–¬–¬“«¢Õß ‚§√ß°“√®”π«π 64 ≈â“π∫“∑ ·≈–‡ß‘π¡—¥®”√—∫®“°≈Ÿ°§â“ ‡π◊ËÕß®“°°“√¢“¬‡æ‘Ë¡¢÷Èπ 102 ≈â“π∫“∑  à«π¢ÕߺŸâ∂◊ÕÀÿâπ„πªï 2547 ‡æ‘Ë¡¢÷Èπ 23 ≈â“π∫“∑ ‡ªìπ 770 ≈â“π∫“∑ ¡’Õ—µ√“ à«πÀπ’È ‘πµàÕ∑ÿπÕ¬Ÿà∑’Ë 1.14 ‡∑à“‡æ‘Ë¡¢÷Èπ ®“°ªï 2546 ´÷Ëß¡’Õ—µ√“ à«π 0.89 ‡∑à“ ´÷Ëß∂◊Õ«à“¬—ßÕ¬Ÿà„π√–¥—∫ µË”‡¡◊ÕË ‡∑’¬∫°—∫Õ—µ√“‡©≈’¬Ë ¢ÕßÕÿµ “À°√√¡Õ —ßÀ“√‘¡∑√—æ¬å ´÷ßË ∫√‘…—∑¬—ß “¡“√∂¢¬“¬°“√≈ß∑ÿπ‰¥âÕ’°

The Companyûs net profit in 2004 was Baht 40.80 million, a reduction of Baht 29.20 million from that of 2003. The reduction of net profit in 2004 due to the single sale of condominium units to Bangkok Commercial Property Fund of Baht 711 million which contributed to a profit of Baht 56 million. The Companyûs total assets in 2004 was Baht 1,646 million, an increased of Baht 231 million. Most of the growing assets are projects under development which shows progress of works of Baht 163 million and net account receivable of Baht 88 million deriving from revenue booking on works completed method which was a generally accepted accounting principal. In 2004 the Company has an increased debts of Baht 209 million which made up a total liability of Baht 876 million. Most of the increased debts were long term project loan of Baht 64 million and the increased down payments of Baht 102 million deriving from increased sales. Shareholderûs equity in 2004 has increased by Baht 23 million, totaled Baht 770 million. Debt to equity ratio stood at 1.14, an increase from that of 2003 of 0.87. However, comparing to the industrial standard, such ratio was considered low and therefore enabling the Company to expand investment.

ANNUAL REPORT

2004 ::: 61


ß∫°“√‡ß‘π /Financial Statement


64 ::: √“¬ß“πª√–®”ªï

2547

√“¬ß“π¢ÕߺŸâ Õ∫∫—≠™’√—∫Õπÿ≠“µ REPORT OF INDEPENDENT AUDITOR

‡ πÕµàÕºŸâ∂◊ÕÀÿâπ·≈–§≥–°√√¡°“√¢Õß∫√‘…—∑ ™“≠Õ‘  √– ¥’‡«≈ÁÕª‡¡π∑å ®”°—¥ (¡À“™π) ¢â“懮Ⓣ¥âµ√«® Õ∫ß∫¥ÿ≈√«¡ ≥ «—π∑’Ë 31 ∏—𫓧¡ 2547 ·≈– 2546 ß∫°”‰√¢“¥∑ÿπ√«¡ ß∫· ¥ß°“√‡ª≈’ˬπ·ª≈ß  à«π¢ÕߺŸâ∂◊ÕÀÿâπ√«¡·≈–ß∫°√–· ‡ß‘π ¥√«¡ ”À√—∫ªï ‘Èπ ÿ¥«—π‡¥’¬«°—π¢Õß·µà≈–ªï¢Õß∫√‘…—∑ ™“≠Õ‘  √– ¥’‡«≈ÁÕª‡¡π∑å ®”°—¥ (¡À“™π) ·≈–∫√‘…—∑¬àÕ¬·≈–‰¥âµ√«® Õ∫ß∫°“√‡ß‘π‡©æ“–¢Õß∫√‘…—∑ ™“≠Õ‘  √– ¥’‡«≈ÁÕª‡¡π∑å ®”°—¥ (¡À“™π) ¥â«¬‡™àπ°—π ´÷ËߺŸâ∫√‘À“√¢Õß°‘®°“√‡ªìπºŸâ√—∫º‘¥™Õ∫µàÕ§«“¡∂Ÿ°µâÕß·≈–§√∫∂â«π¢ÕߢâÕ¡Ÿ≈„πß∫°“√‡ß‘π‡À≈à“π’È  à«π¢â“懮ⓇªìπºŸâ √—∫º‘¥™Õ∫„π°“√· ¥ß§«“¡‡ÀÁπµàÕß∫°“√‡ß‘π¥—ß°≈à“«®“°º≈°“√µ√«® Õ∫¢Õߢâ“懮ⓠ¢â“懮Ⓣ¥âªØ‘∫µ— ß‘ “πµ√«® Õ∫µ“¡¡“µ√∞“π°“√ Õ∫∫—≠™’∑√’Ë ∫— √Õß∑—«Ë ‰ª´÷ßË °”Àπ¥„À⢓â 懮⓵âÕß«“ß·ºπ·≈–ªØ‘∫µ— ß‘ “π ‡æ◊ÕË „À≥⧫“¡‡™◊ÕË ¡—πË Õ¬à“ß¡’‡Àµÿº≈«à“ß∫°“√‡ß‘π· ¥ß¢âÕ¡Ÿ≈∑’¢Ë ¥— µàÕ¢âÕ‡∑Á®®√‘ßÕ—π‡ªìπ “√– ”§—≠À√◊Õ‰¡à °“√µ√«® Õ∫√«¡∂÷ß°“√ „™â«‘∏’°“√∑¥ Õ∫À≈—°∞“πª√–°Õ∫√“¬°“√∑—Èß∑’ˇªìπ®”π«π‡ß‘π·≈–°“√‡ªî¥‡º¬¢âÕ¡Ÿ≈„πß∫°“√‡ß‘π °“√ª√–‡¡‘𧫓¡‡À¡“– ¡ ¢ÕßÀ≈—°°“√∫—≠™’∑°’Ë ®‘ °“√„™â·≈–ª√–¡“≥°“√‡°’¬Ë «°—∫√“¬°“√∑“ß°“√‡ß‘π∑’‡Ë ªìπ “√– ”§—≠´÷ßË ºŸ∫â √‘À“√‡ªìπºŸ®â ¥— ∑”¢÷πÈ µ≈Õ¥®π°“√ ª√–‡¡‘π∂÷ߧ«“¡‡À¡“– ¡¢Õß°“√· ¥ß√“¬°“√∑’πË ”‡ πÕ„πß∫°“√‡ß‘π‚¥¬√«¡ ¢â“懮Ⓡ™◊ÕË «à“°“√µ√«® Õ∫¥—ß°≈à“«„Àâ¢Õâ  √ÿª∑’Ë ‡ªìπ‡°≥±åÕ¬à“߇À¡“– ¡„π°“√· ¥ß§«“¡‡ÀÁπ¢Õߢâ“懮ⓠ¢â“懮ⓇÀÁπ«à“ ß∫°“√‡ß‘π¢â“ßµâππ’È· ¥ß∞“π–°“√‡ß‘π ≥ «—π∑’Ë 31 ∏—𫓧¡ 2547 ·≈– 2546 º≈°“√¥”‡π‘πß“π·≈– °√–· ‡ß‘π ¥ ”À√—∫ªï ‘Èπ ÿ¥«—π‡¥’¬«°—π¢Õß·µà≈–ªï¢Õß∫√‘…—∑ ™“≠Õ‘  √– ¥’‡«≈ÁÕª‡¡π∑å ®”°—¥ (¡À“™π) ·≈–∫√‘…—∑¬àÕ¬·≈– ‡©æ“–¢Õß∫√‘…—∑ ™“≠Õ‘  √– ¥’‡«≈ÁÕª‡¡π∑å ®”°—¥ (¡À“™π) ‚¥¬∂Ÿ°µâÕßµ“¡∑’˧«√„π “√– ”§—≠µ“¡À≈—°°“√∫—≠™’∑’Ë√—∫√Õß ∑—«Ë ‰ª

∑‘æ«—≈¬å π“π“πÿ«—≤πå ºŸâ Õ∫∫—≠™’√—∫Õπÿ≠“µ ‡≈¢∑–‡∫’¬π 3459 ∫√‘…∑—  ”π—°ß“π ‡Õ‘π å∑ ·Õπ¥å ¬—ß ®”°—¥

°√ÿ߇∑æœ : 25 °ÿ¡¿“æ—π∏å 2548


To The Board of Directors and Shareholders of Charn Issara Development Public Company Limited I have audited the consolidated balance sheets of Charn Issara Development Public Company Limited and its subsidiary companies as at 31 December 2004 and 2003, and the related consolidated statements of earnings, changes in shareholder没s equity and cash flows for the years then ended, and the separate financial statements of Charn Issara Development Public Company Limited. These financial statements are the responsibility of the Company没s management as to their correctness and the completeness of the presentation. My responsibility is to express an opinion on these financial statements based on my audits. I conducted my audits in accordance with generally accepted auditing standards. Those standards require that I plan and perform the audit to obtain reasonable assurance about whether the financial statements are free of material misstatement. An audit includes examining, on a test basis, evidence supporting the amounts and disclosures in the financial statements. An audit also includes assessing the accounting principles used and significant estimates made by management, as well as evaluating the overall financial statement presentation. I believe that my audits provide a reasonable basis for my opinion. In my opinion, the financial statements referred to above present fairly, in all material respects, the financial position of Charn Issara Development Public Company Limited and its subsidiary companies and of Charn Issara Development Public Company Limited as at 31 December 2004 and 2003, the results of their operations and cash flows for the years then ended in accordance with generally accepted accounting principles.

Thipawan Nananuwat Certified Public Accountant (Thailand) 3459 Ernst & Young Office Limited

Bangkok : 25 February 2005 ANNUAL REPORT

2004 ::: 65


66 ::: √“¬ß“πª√–®”ªï

2547

ß∫¥ÿ≈ / Balance Sheets (Àπ૬ : ∫“∑) ß∫°“√‡ß‘π√«¡ À¡“¬‡Àµÿ

2547

2546

ß∫°“√‡ß‘π‡©æ“–∫√‘…—∑œ 2547

2546

 ‘π∑√—æ¬å  ‘π∑√—æ¬åÀ¡ÿπ‡«’¬π ‡ß‘π ¥·≈–√“¬°“√‡∑’¬∫‡∑à“‡ß‘π ¥ ≈Ÿ°Àπ’È°“√§â“ °‘®°“√∑’ˇ°’ˬ«¢âÕß°—π Õ◊ËπÊ À—° : §à“‡º◊ËÕÀπ’È ß —¬®– Ÿ≠ ≈Ÿ°Àπ’È°“√§â“ -  ÿ∑∏‘ √“¬‰¥â∑’ˬ—߉¡à‰¥â‡√’¬°™”√–- ÿ∑∏‘ ≈Ÿ°Àπ’È°‘®°“√∑’ˇ°’ˬ«¢âÕß°—𠂧√ß°“√√–À«à“ß°“√æ—≤π“  ‘π∑√—æ¬åÀ¡ÿπ‡«’¬πÕ◊Ëπ √«¡ ‘π∑√—æ¬åÀ¡ÿπ‡«’¬π  ‘π∑√—æ¬å‰¡àÀ¡ÿπ‡«’¬π ‡ß‘πΩ“°∏𓧓√∑’Ë¡’¿“√–§È”ª√–°—π ‡ß‘π≈ß∑ÿπ´÷Ëß∫—π∑÷°‚¥¬«‘∏’ à«π‰¥â‡ ’¬ ‡ß‘π≈ß∑ÿπ„π∫√‘…—∑∑’ˇ°’ˬ«¢âÕß°—π ‡ß‘π„Àâ°âŸ¬◊π·°à∫√‘…—∑¬àÕ¬ ∑’Ë¥‘π Õ“§“√·≈–Õÿª°√≥å -  ÿ∑∏‘ ¿“…’‡ß‘π‰¥âÀ—° ≥ ∑’Ë®à“¬  ‘π∑√—æ¬å‰¡àÀ¡ÿπ‡«’¬πÕ◊Ëπ √«¡ ‘π∑√—æ¬å‰¡àÀ¡ÿπ‡«’¬π √«¡ ‘π∑√—æ¬å

4 5

5 6

7 8 9 5 10

À¡“¬‡Àµÿª√–°Õ∫ß∫°“√‡ß‘π‡ªìπ à«πÀπ÷ËߢÕßß∫°“√‡ß‘ππ’È

66,242,974

122,963,485

21,571,053

96,399,158

5,539,029 16,155,344 21,694,373 (5,042,872) 16,651,501 88,219,996 855,094,194 22,834,562 1,049,043,227

729,810 18,641,807 19,371,617 (6,152,247) 13,219,370 6,439,075 692,950,414 2,762,036 838,334,380

22,190,392 16,155,344 38,345,736 (5,042,872) 33,302,864 521,071,053 1,597,122 577,542,092

7,848,610 18,641,807 26,490,417 (6,152,247) 20,338,170 6,439,075 449,276,596 1,660,761 574,113,760

3,420,627 322,893,071 160,830,302 61,605,914 17,294,641 30,663,732 596,708,287 1,645,751,514

3,427,072 316,982,876 173,541,133 48,730,838 21,272,623 12,597,456 576,551,998 1,414,886,378

2,820,627 389,603,945 160,830,302 13,566,421 60,129,615 17,294,641 26,386,766 670,632,317 1,248,174,409

3,274,702 378,921,387 173,541,133 12,595,017 48,408,174 21,272,623 12,533,356 650,546,392 1,224,660,152


≥ «—π∑’Ë 31 ∏—𫓧¡ 2547 ·≈– 2546 / As At 31 December 2004 and 2003

(Unit : Baht) CONSOLIDATED Note

THE COMPANY ONLY

2004

2003

2004

2003

66,242,974

122,963,485

21,571,053

96,399,158

5,539,029 16,155,344 21,694,373 (5,042,872) 16,651,501 88,219,996 855,094,194 22,834,562 1,049,043,227

729,810 18,641,807 19,371,617 (6,152,247) 13,219,370 6,439,075 692,950,414 2,762,036 838,334,380

22,190,392 16,155,344 38,345,736 (5,042,872) 33,302,864 521,071,053 1,597,122 577,542,092

7,848,610 18,641,807 26,490,417 (6,152,247) 20,338,170 6,439,075 449,276,596 1,660,761 574,113,760

2,820,627 3,427,072 3,420,627 322,893,071 316,982,876 389,603,945 160,830,302 173,541,133 160,830,302 13,566,421 60,129,615 48,730,838 61,605,914 17,294,641 21,272,623 17,294,641 26,386,766 12,597,456 30,663,732 596,708,287 576,551,998 670,632,317 1,645,751,514 1,414,886,378 1,248,174,409

3,274,702 378,921,387 173,541,133 12,595,017 48,408,174 21,272,623 12,533,356 650,546,392 1,224,660,152

ASSETS CURRENT ASSETS Cash and cash equivalents Accounts receivable-trade Related parties Others Less : Allowance for doubtful accounts Accounts receivable-trade, net Unbilled receivable-net Amount due from related parties Project under development Other current assets TOTAL CURRENT ASSETS NON-CURRENT ASSETS Restricted bank deposit Investment accounted for under equity method

Investment in related company Loans to subsidiary Property, plant and equipment, net Withholding tax deducted at source Other non-current assets TOTAL NON-CURRENT ASSETS TOTAL ASSETS

4 5

5 6

7 8 9 5 10

The accompanying notes are an integral part of the financial statements.

ANNUAL REPORT

2004 ::: 67


68 ::: √“¬ß“πª√–®”ªï

2547

ß∫¥ÿ≈ (µàÕ) / Balance Sheets (Continued) (Àπ૬ : ∫“∑) ß∫°“√‡ß‘π√«¡

Àπ’È ‘π·≈– à«π¢ÕߺâŸ∂◊ÕÀâÿπ Àπ’È ‘πÀ¡ÿπ‡«’¬π ‡®â“Àπ’È·≈–§à“„™â®à“¬§â“ß®à“¬ µâπ∑ÿπ§à“°àÕ √â“ߧâ“ß®à“¬ ‡ß‘π°âŸ¬◊¡√–¬– —Èπ  à«π¢Õ߇ߑπ°âŸ¬◊¡√–¬–¬“«∑’Ë∂÷ß°”Àπ¥ ™”√–¿“¬„πÀπ÷Ëßªï ‡®â“Àπ’È∫√‘…—∑√à«¡ ‡ß‘π¡—¥®”√—∫®“°≈Ÿ°§â“ Àπ’È ‘πÀ¡ÿπ‡«’¬πÕ◊Ëπ √«¡Àπ’È ‘πÀ¡ÿπ‡«’¬π Àπ’ È π‘ ‰¡àÀ¡ÿπ‡«’¬π √“¬‰¥â√—∫≈à«ßÀπâ“®“° —≠≠“‡™à“√–¬–¬“« ‡ß‘π°âŸ¬◊¡√–¬–¬“«- ÿ∑∏‘®“° à«π∑’Ë∂÷ß°”Àπ¥ ™”√–¿“¬„πÀπ÷Ëßªï ‡ß‘π°âŸ¬◊¡√–¬–¬“«®“°°√√¡°“√ Àπ’È ‘π‰¡àÀ¡ÿπ‡«’¬πÕ◊Ëπ √«¡Àπ’È ‘π‰¡àÀ¡ÿπ‡«’¬π √«¡Àπ’È ‘π

ß∫°“√‡ß‘π‡©æ“–∫√‘…—∑œ

À¡“¬‡Àµÿ

2547

2546

2547

11 12

53,055,768 35,138,104 159,210,500 261,315,509

38,791,862 173,000,000 -

24,979,556 159,210,500 112,066,150

28,800,353 173,000,000 -

130,115,863 16,598,640 655,434,384

13,680,297 27,569,770 5,953,601 258,995,530

60,462,574 3,069,036 359,787,816

13,680,297 27,569,770 3,868,118 246,918,538

13,025,097

14,683,613

13,025,097

14,683,613

180,898,126 13,568,014 12,601,963 220,093,200 875,527,584

378,129,001 12,596,610 2,963,097 408,372,321 667,367,851

142,469,970 10,822,502 166,317,569 526,105,385

254,827,747 2,963,097 272,474,457 519,392,995

5

12 5

À¡“¬‡Àµÿª√–°Õ∫ß∫°“√‡ß‘π‡ªìπ à«πÀπ÷ËߢÕßß∫°“√‡ß‘ππ’È

2546


≥ «—π∑’Ë 31 ∏—𫓧¡ 2547 ·≈– 2546 / As At 31 December 2004 and 2003

(Unit : Baht) CONSOLIDATED

Note

LIABILITIES AND SHAREHOLDERS EQUITY CURRENT LIABILITIES Accounts payable and accrued expenses Accrued construction cost Short-term loans 11 Current portion of long-term loans 12 Amount due to associated company 5 Deposits received from customers Other current liabilities TOTAL CURRENT LIABILITIES NON - CURRENT LIABILITIES Unearned income from long-term contract Long-term loans, net of current portion 12 Long-term loan from director 5 Other non-current liabilities TOTAL NON - CURRENT LIABILITIES TOTAL LIABILITIES

THE COMPANY ONLY

2003

2004

2003

53,055,768 35,138,104 159,210,500 261,315,509 130,115,863 16,598,640 655,434,384

38,791,862 173,000,000 13,680,297 27,569,770 5,953,601 258,995,530

24,979,556 159,210,500 112,066,150 60,462,574 3,069,036 359,787,816

28,800,353 173,000,000 13,680,297 27,569,770 3,868,118 246,918,538

13,025,097 180,898,126 13,568,014 12,601,963 220,093,200 875,527,584

14,683,613 378,129,001 12,596,610 2,963,097 408,372,321 667,367,851

13,025,097 142,469,970 10,822,502 166,317,569 526,105,385

14,683,613 254,827,747 2,963,097 272,474,457 519,392,995

2004

The accompanying notes are an integral part of the financial statements.

ANNUAL REPORT

2004 ::: 69


70 ::: √“¬ß“πª√–®”ªï

2547

ß∫¥ÿ≈ (µàÕ) / Balance Sheets (Continued)

(Àπ૬ : ∫“∑) ß∫°“√‡ß‘π√«¡ À¡“¬‡Àµÿ

 à«π¢ÕߺâŸ∂◊ÕÀâÿπ ∑ÿπ‡√◊ÕπÀâπÿ ∑ÿπ®¥∑–‡∫’¬π ÕÕ°®”Àπà“¬·≈–™”√–‡µÁ¡¡Ÿ≈§à“·≈â« Àâÿπ “¡—≠ 120,000,000 Àâÿπ ¡Ÿ≈§à“Àâÿπ≈– 5 ∫“∑  à«π‡°‘π¡Ÿ≈§à“Àâÿπ À¡“¬‡Àµÿª√–°Õ∫ß∫°“√‡ß‘π‡ªìπ à«πÀπ÷ËߢÕßß∫°“√‡ß‘ππ’È °”‰√ – ¡ ®—¥ √√·≈â«- ”√Õßµ“¡°ÆÀ¡“¬ 13 ��—߉¡à‰¥â®—¥ √√ √«¡ à«π¢ÕߺâŸ∂◊ÕÀâÿπ¢Õß∫√‘…—∑œ  à«π¢ÕߺâŸ∂◊ÕÀâÿπ à«ππâÕ¬¢Õß∫√‘…—∑¬àÕ¬ √«¡ à«π¢ÕߺâŸ∂◊ÕÀâÿπ √«¡Àπ’È ‘π·≈– à«π¢ÕߺâŸ∂◊ÕÀâÿπ

À¡“¬‡Àµÿª√–°Õ∫ß∫°“√‡ß‘π‡ªìπ à«πÀπ÷ËߢÕßß∫°“√‡ß‘ππ’È

ß∫°“√‡ß‘π‡©æ“–∫√‘…—∑œ 2546

2547

2546

2547

600,000,000 23,780,791

600,000,000 23,780,791

600,000,000 23,780,791

600,000,000 23,780,791

7,014,198 4,974,318 91,274,035 76,512,048 722,069,024 705,267,157 48,154,906 42,251,370 770,223,930 747,518,527 1,645,751,514 1,414,886,378 0 0

7,014,198 91,274,035 722,069,024 722,069,024 1,248,174,409 0

4,974,318 76,512,048 705,267,157 705,267,157 1,224,660,152 0


≥ «—π∑’Ë 31 ∏—𫓧¡ 2547 ·≈– 2546 / As At 31 December 2004 and 2003

(Unit : Baht)

CONSOLIDATED Note

2004

2003

SHAREHOLDERS EQUITY Share capital The accompanying notes are an integral part of the financial statements. Registered, issued and fully paid 120,000,000 ordinary shares 600,000,000 600,000,000 of Baht 5 each Share premium 23,780,791 23,780,791 Retained earnings Appropriated - statutory reserve 13 4,974,318 7,014,198 Unappropriated 76,512,048 91,274,035 Equity attributable to the Companyûs 705,267,157 722,069,024 shareholders Minority interest - equity attributable to minority 42,251,370 48,154,906 shareholders of subsidiary company TOTAL SHAREHOLDERSû EQUITY 747,518,527 770,223,930 TOTAL LIABILITIES AND SHAREHOLDERSû EQUITY 1,645,751,514 1,414,886,378 0 0

THE COMPANY ONLY

2004

2003

600,000,000

600,000,000

23,780,791

23,780,791

7,014,198 91,274,035 722,069,024

4,974,318 76,512,048 705,267,157

-

-

722,069,024 1,248,174,409 0

705,267,157 1,224,660,152 0

The accompanying notes are an integral part of the financial statements.

ANNUAL REPORT

2004 ::: 71


72 ::: √“¬ß“πª√–®”ªï

2547

ß∫°”‰√¢“¥∑ÿπ / Statements of Earnings (Àπ૬ : ∫“∑)

ß∫°“√‡ß‘π‡©æ“–∫√‘…—∑œ

ß∫°“√‡ß‘π√«¡ À¡“¬‡Àµÿ

2546

2547

2546

2547

423,806,814 87,434,834 5,724,862

45,555,350 133,928,774 711,000,000 25,514,565

215,561,069 87,454,781 15,324,862

19,555,350 133,928,774 711,000,000 32,564,565

19,663,095 18,683,463 555,313,068

24,683,397 940,682,086

27,829,025 19,047,444 365,217,181

24,799,552 921,848,241

296,442,066 59,370,838 132,799,781 655,000 -

26,602,476 85,365,632 655,478,527 72,605,912 691,000 16,017,124

157,458,229 59,370,838 92,771,476 655,000 3,393,567

14,087,280 85,365,632 655,478,527 66,243,523 691,000 16,787,262

489,267,685 66,045,383 (10,770,464) (8,573,776) 46,701,143

856,760,671 83,921,415 (12,800,625) (1,816,589) 69,304,201

313,649,110 51,568,071 (10,770,464) 40,797,607

838,653,224 83,195,017 (13,181,886) 70,013,131

(5,903,536) 40,797,607

708,930 70,013,131

40,797,607

70,013,131

0.34

0.58

0.34

0.58

√“¬‰¥â √“¬‰¥â®“°°“√¢“¬Õ —ßÀ“√‘¡∑√—æ¬å √“¬‰¥â§à“‡™à“·≈–§à“∫√‘°“√ √“¬‰¥â®“°°“√®”Àπà“¬ÀâÕß™ÿ¥ ”π—°ß“π √“¬‰¥â§à“∏√√¡‡π’¬¡∫√‘À“√ß“π  à«π·∫àߺ≈°”‰√®“°‡ß‘π≈ß∑ÿπµ“¡«‘∏’ à«π‰¥â‡ ’¬ „π∫√‘…—∑¬àÕ¬·≈–∫√‘…—∑√à«¡ √“¬‰¥âÕ◊Ëπ √«¡√“¬‰¥â §à“„™â®à“¬ µâπ∑ÿπ¢“¬Õ —ßÀ“√‘¡∑√—æ¬å µâπ∑ÿπ§à“‡™à“·≈–§à“∫√‘°“√ µâπ∑ÿπ°“√®”Àπà“¬ÀâÕß™ÿ¥ ”π—°ß“π §à“„™â®à“¬„π°“√¢“¬·≈–∫√‘À“√ §à“µÕ∫·∑π°√√¡°“√  à«π·∫àߺ≈¢“¥∑ÿπ®“°‡ß‘π≈ß∑ÿπµ“¡«‘∏’ à«π‰¥â‡ ’¬ „π∫√‘…—∑¬àÕ¬ √«¡§à“„™â®à“¬ °”‰√°àÕπ¥Õ°‡∫’Ȭ®à“¬·≈–¿“…’‡ß‘π‰¥â ¥Õ°‡∫’Ȭ®à“¬ ¿“…’‡ß‘π‰¥â𑵑∫ÿ§§≈ °”‰√°àÕπ à«π¢ÕߺŸâ∂◊ÕÀÿâπ à«ππâÕ¬  à«π¢ÕߺŸâ∂◊ÕÀÿâπ à«ππâÕ¬„π (°”‰√) ¢“¥∑ÿπ ÿ∑∏‘¢Õß∫√‘…—∑¬àÕ¬ °”‰√ ÿ∑∏‘ ”À√—∫ªï °”‰√µàÕÀÿâπ¢—Èπæ◊Èπ∞“π °”‰√ ÿ∑∏‘

À¡“¬‡Àµÿª√–°Õ∫ß∫°“√‡ß‘π‡ªìπ à«πÀπ÷ËߢÕßß∫°“√‡ß‘ππ’È

14

15

16


”À√—∫ªï ‘Èπ ÿ¥«—π∑’Ë 31 ∏—𫓧¡ 2547 ·≈– 2546 / For the years ended 31 December 2004 and 2003

(Unit : Baht)

THE COMPANY ONLY

CONSOLIDATED Note

REVENUES Revenue from real estate sale Rental and services income 14 Revenue from sales of office building unit Management fee income Share of earnings from investments in subsidiary and associated company and subsidiary companies Other incomes TOTAL REVENUES EXPENSES Cost of real estate sale Cost of rental and services Cost of office building unit sales Administrative expenses Directors' remuneration 15 Share of loss from investments in subsidiary companies TOTAL EXPENSES EARNINGS BEFORE INTEREST EXPENSES AND INCOME TAX INTEREST EXPENSES CORPORATE INCOME TAX 16 EARNINGS BEFORE MINORITY INTEREST MINORITY INTEREST IN NET (EARNINGS) LOSS OF SUBSIDIARIES NET EARNINGS FOR THE YEAR BASIC EARNINGS PER SHARE Net earnings

2004

2003

2004

2003

423,806,814 87,434,834 5,724,862

45,555,350 133,928,774 711,000,000 25,514,565

215,561,069 87,454,781 15,324,862

19,555,350 133,928,774 711,000,000 32,564,565

19,663,095 18,683,463 555,313,068

24,683,397 940,682,086

27,829,025 19,047,444 365,217,181

24,799,552 921,848,241

296,442,066 59,370,838 132,799,781 655,000 489,267,685

26,602,476 85,365,632 655,478,527 72,605,912 691,000 16,017,124 856,760,671

157,458,229 59,370,838 92,771,476 655,000 3,393,567 313,649,110

14,087,280 85,365,632 655,478,527 66,243,523 691,000 16,787,262 838,653,224

66,045,383 (10,770,464) (8,573,776) 46,701,143

83,921,415 (12,800,625) (1,816,589) 69,304,201

51,568,071 (10,770,464) 40,797,607

83,195,017 (13,181,886) 70,013,131

(5,903,536) 40,797,607

708,930 70,013,131

40,797,607

70,013,131

0.34

0.58

0.34

0.58

The accompanying notes are an integral part of the financial statements.

ANNUAL REPORT

2004 ::: 73


74 ::: √“¬ß“πª√–®”ªï

2547

ß∫°√–· ‡ß‘π ¥ / Statements of Cash Flows (Àπ૬ : ∫“∑)

ß∫°“√‡ß‘π√«¡ À¡“¬‡Àµÿ

°√–· ‡ß‘π ¥®“°(„™â‰ª„π)°‘®°√√¡¥”‡π‘πß“π : °”‰√ ÿ∑∏‘ ”À√—∫ªï ª√—∫°√–∑∫°”‰√ ÿ∑∏‘‡ªìπ‡ß‘π ¥√—∫ (®à“¬) ®“°°‘®°√√¡¥”‡π‘πß“π : §à“‡ ◊ËÕ¡√“§“ °”‰√®“°°“√®”Àπà“¬ÀâÕß™ÿ¥ ”π—°ß“π Àπ’È ß —¬®– Ÿ≠ (‚Õπ°≈—∫) °”‰√®“°°“√§◊π∑ÿπ®“°‡ß‘π≈ß∑ÿπ„π∫√‘…—∑∑’ˇ°’ˬ«¢âÕß°—π  à«π·∫àߺ≈¢“¥∑ÿπ (°”‰√) ®“°‡ß‘π≈ß∑ÿπµ“¡«‘∏’ à«π‰¥â‡ ’¬ „π∫√‘…—∑¬àÕ¬·≈–∫√‘…—∑√à«¡  à«π¢ÕߺŸâ∂◊ÕÀÿâπ à«ππâÕ¬„𰔉√ (¢“¥∑ÿπ)  ÿ∑∏‘¢Õß∫√‘…—∑¬àÕ¬ √—∫√Ÿâ√“¬‰¥â√—∫≈à«ßÀπâ“  ‘π∑√—æ¬å¥”‡π‘πß“π (‡æ‘Ë¡¢÷Èπ) ≈¥≈ß : ≈Ÿ°Àπ’È°“√§â“ √“¬‰¥â∑’ˬ—߉¡à‰¥â‡√’¬°™”√– ≈Ÿ°Àπ’È°‘®°“√∑’ˇ°’ˬ«¢âÕß°—𠂧√ß°“√√–À«à“ß°“√æ—≤π“  ‘π∑√—æ¬åÀ¡ÿπ‡«’¬πÕ◊Ëπ  ‘π∑√—æ¬å‰¡àÀ¡ÿπ‡«’¬πÕ◊Ëπ Àπ’È ‘𥔇π‘πß“π‡æ‘Ë¡¢÷Èπ (≈¥≈ß) : ‡®â“Àπ’È·≈–§à“„™â®à“¬§â“ß®à“¬ µâπ∑ÿπ§à“°àÕ √â“ߧâ“ß®à“¬ ‡®â“Àπ’È∫√‘…—∑√à«¡ ‡ß‘π¡—¥®”√—∫®“°≈Ÿ°§â“ Àπ’È ‘πÀ¡ÿπ‡«’¬πÕ◊Ëπ Àπ’È ‘π‰¡àÀ¡ÿπ‡«’¬πÕ◊Ëπ ‡ß‘π ¥ ÿ∑∏‘„™â‰ª„π°‘®°√√¡¥”‡π‘πß“π

À¡“¬‡Àµÿª√–°Õ∫ß∫°“√‡ß‘π‡ªìπ à«πÀπ÷ËߢÕßß∫°“√‡ß‘ππ’È

ß∫°“√‡ß‘π‡©æ“–∫√‘…—∑œ 2547

2546

2547

2546

40,797,607

70,013,131

40,797,607

70,013,131

10,274,559 (1,109,375) (11,271,869)

19,286,926 (55,521,473) 1,936,335 (6,011,676)

10,010,958 (1,109,375) (11,271,869)

19,250,446 (55,521,473) 1,936,335 (6,011,676)

(19,663,095) 5,903,536 (1,658,516) 23,272,847

16,017,124 (708,930) (4,628,515) 40,382,922

(24,435,458) (1,658,516) 12,333,347

16,787,262 (4,628,515) 41,825,510

(2,322,756) (88,219,996) 6,439,075 (158,376,586) (20,072,526) (14,088,294)

(3,406,363) (6,439,075) (622,829,855) (2,339,186) (17,749,036)

(11,855,319) (10,525,163) 6,439,075 (6,439,075) (68,565,526) (389,276,596) 63,639 (1,287,911) (10,846,832) (17,684,945)

14,263,906 35,138,104 (13,680,297) 102,546,093 10,645,038 9,638,866 (94,816,526)

26,730,800 13,680,297 (5,176,464) 1,589,719 2,950,326 (572,605,915)

(3,820,797) 16,867,722 (13,680,297) 13,680,297 32,892,804 (5,176,464) (799,082) (447,418) 7,859,405 2,950,326 (49,979,583) (355,513,717)


”À√—∫ªï ‘Èπ ÿ¥«—π∑’Ë 31 ∏—𫓧¡ 2547 ·≈– 2546 / For the years ended 31 December 2004 and 2003

(Unit : Baht)

CONSOLIDATED Note

2004

Cash flows from (used in) operating activities : 40,797,607 Net earnings for the year Adjustments to reconcile net earnings to net cash provided by (used in) operating activities : 10,274,559 Depreciation Gain on sales of office building units (1,109,375) Doubtful accounts (reversal) Gain on capital return from investment in related company (11,271,869) Share of (earnings) loss from investment (19,663,095) in subsidiary and associated companies 5,903,536 Minority interest in net earnings (loss) of subsidiaries (1,658,516) Recognition of unearned income 23,272,847 (Increase) decrease in operating assets : (2,322,756) Accounts receivable - trade (88,219,996) Unbilled receivables 6,439,075 Amount due from related companies (158,376,586) Project under development (20,072,526) Other current assets (14,088,294) Other non-current assets Increase (decrease) in operating liabilities : 14,263,906 Accounts payable and accrued expenses 35,138,104 Accrued construction cost (13,680,297) Amount due to associated company 102,546,093 Deposits received from customers 10,645,038 Other current liabilities 9,638,866 Other non-current liabilities (94,816,526) Net cash used in operating activities

THE COMPANY ONLY

2003

2003

2004

70,013,131

40,797,607

70,013,131

19,286,926 (55,521,473) 1,936,335 (6,011,676)

10,010,958 (1,109,375) (11,271,869)

19,250,446 (55,521,473) 1,936,335 (6,011,676)

16,017,124 (708,930) (4,628,515) 40,382,922

(24,435,458) (1,658,516) 12,333,347

16,787,262 (4,628,515) 41,825,510

(3,406,363) (6,439,075) (622,829,855) (2,339,186) (17,749,036)

(11,855,319) 6,439,075 (68,565,526) 63,639 (10,846,832)

(10,525,163) (6,439,075) (389,276,596) (1,287,911) (17,684,945)

26,730,800 13,680,297 (5,176,464) 1,589,719 2,950,326 (572,605,915)

(3,820,797) (13,680,297) 32,892,804 (799,082) 7,859,405 (49,979,583)

16,867,722 13,680,297 (5,176,464) (447,418) 2,950,326 (355,513,717)

The accompanying notes are an integral part of the financial statements.

ANNUAL REPORT

2004 ::: 75


76 ::: √“¬ß“πª√–®”ªï

2547

ß∫°√–· ‡ß‘π ¥ (µàÕ) / Statements of Cash Flows (Continued) (Àπ૬ : ∫“∑)

ß∫°“√‡ß‘π√«¡ À¡“¬‡Àµÿ

°√–· ‡ß‘π ¥®“°(„™â‰ª„π)°‘®°√√¡≈ß∑ÿπ : ‡ß‘π„Àâ°Ÿâ¬◊¡·°à∫√‘…—∑¬àÕ¬ ‡ß‘πªíπº≈√—∫®“°∫√‘…—∑√à«¡ ‡ß‘π≈ß∑ÿπ„π∫√‘…—∑¬àÕ¬‡æ‘Ë¡¢÷Èπ ‡ß‘π≈ß∑ÿπ„π°Õß∑ÿπ√«¡Õ —ßÀ“√‘¡∑√—æ¬å‡æ‘Ë¡¢÷Èπ ‡ß‘π≈ß∑ÿπ„π∫√‘…—∑∑’ˇ°’ˬ«¢âÕß°—π≈¥≈ß ‡ß‘πΩ“°∏𓧓√∑’Ë¡’¿“√–§È”ª√–°—π (‡æ‘Ë¡¢÷Èπ) ≈¥≈ß ‡ß‘π ¥√—∫®“°°“√®”Àπà“¬ÀâÕß™ÿ¥ ”π—°ß“π ∑’Ë¥‘π Õ“§“√·≈–Õÿª°√≥å‡æ‘Ë¡¢÷Èπ ‡ß‘π ¥ ÿ∑∏‘®“°°‘®°√√¡≈ß∑ÿπ °√–· ‡ß‘π ¥®“°(„™â‰ª„π)°‘®°√√¡®—¥À“‡ß‘π : ‡ß‘π°Ÿâ¬◊¡®“°°‘®°“√∑’ˇ°’ˬ«¢âÕß°—π≈¥≈ß ‡ß‘π°Ÿâ¬◊¡√–¬–¬“«‡æ‘Ë¡¢÷Èπ (≈¥≈ß) ‡ß‘π°Ÿâ¬◊¡√–¬– —Èπ‡æ‘Ë¡¢÷Èπ (≈¥≈ß) ‡ß‘π°Ÿâ¬◊¡®“°ºŸâ∂◊ÕÀÿâπ≈¥≈ß ‡ß‘π°Ÿâ¬◊¡®“°°√√¡°“√‡æ‘Ë¡¢÷Èπ √—∫‡ß‘π‡æ‘Ë¡∑ÿπ„π∫√‘…—∑¬àÕ¬ ‡ß‘πªíπº≈®à“¬ ‡ß‘π ¥ ÿ∑∏‘®“°(„™â‰ª„π)°‘®°√√¡®—¥À“‡ß‘π ‡ß‘π ¥·≈–√“¬°“√‡∑’¬∫‡∑à“‡ß‘π ¥≈¥≈ß ÿ∑∏‘ ‡ß‘π ¥·≈–√“¬°“√‡∑’¬∫‡∑à“‡ß‘π ¥ ≥ «—πµâπªï ‡ß‘π ¥·≈–√“¬°“√‡∑’¬∫‡∑à“‡ß‘π ¥ ≥ «—π ‘Èπªï ¢âÕ¡Ÿ≈°√–· ‡ß‘𠥇ªî¥‡º¬‡æ‘Ë¡‡µ‘¡ :‡ß‘π ¥®à“¬„π√–À«à“ߪÀ√—∫ :¿“…’‡ß‘π‰¥â𑵑∫ÿ§§≈ ¥Õ°‡∫’Ȭ®à“¬

À¡“¬‡Àµÿª√–°Õ∫ß∫°“√‡ß‘π‡ªìπ à«πÀπ÷ËߢÕßß∫°“√‡ß‘ππ’È

ß∫°“√‡ß‘π‡©æ“–∫√‘…—∑œ 2547

2546

2547

2546

13,752,900 23,982,700 6,445 (26,916,828) 10,825,217

(333,000,000) 12,790,800 (184,472) 711,000,000 (284,636,466) 105,969,862

(12,595,017) 13,752,900 (62,939,700) (333,000,000) 23,982,700 12,790,800 454,075 (32,102) 711,000,000 (24,961,330) (284,288,934) 13,228,345 30,935,047

64,084,634 (13,789,500) 971,404 (23,995,740) 27,270,798 (56,720,511) 122,963,485 66,242,974 -

(10,000,000) 188,129,001 173,000,000 (4,000,000) 12,596,610 42,960,300 (18,000,000) 384,685,911 (81,950,142) 204,913,627 122,963,485 -

(291,627) 64,827,747 (13,789,500) 173,000,000 (23,995,740) (18,000,000) (38,076,867) 219,827,747 (74,828,105) (104,750,923) 96,399,158 201,150,081 21,571,053 96,399,158 -

20,289,992 34,629,395

15,942,515 27,114,612

17,240,710 23,707,696

13,568,735 23,660,664


”À√—∫ªï ‘Èπ ÿ¥«—π∑’Ë 31 ∏—𫓧¡ 2547 ·≈– 2546 / For the years ended 31 December 2004 and 2003

(Unit : Baht)

CONSOLIDATED Note

Cash flows from (used in) investing activities : Loans to subsidiary Dividend received from associated company Increase in investment in subsidiaries Increase in investment in property fund Capital return from investment in related company Increase (decrease) in restricted bank deposits Cash received from sale of office building units Increase in property, plant and equipment Net cash from investing activities Cash flows from (used in) financing activities : Decrease in loan from related company Increase (decrease) in long-term loans Increase (decrease) in short-term loans Decrease in loan from shareholder Increase in loan from director Increase in capital in subsidiries Dividend payment Net cash from (used in) financing activities Net decrease in cash and cash equivalents Cash and cash equivalents at beginning of year Cash and cash equivalents at end of year Supplemental disclosures of cash flows information :Cash paid during the year for :Corporate income tax Interest expenses

THE COMPANY ONLY

2004

2003

2004

2003

13,752,900 23,982,700 6,445 (26,916,828) 10,825,217

(333,000,000) 12,790,800 (184,472) 711,000,000 (284,636,466) 105,969,862

13,752,900 23,982,700 454,075 (24,961,330) 13,228,345

(12,595,017) (62,939,700) (333,000,000) 12,790,800 (32,102) 711,000,000 (284,288,934) 30,935,047

64,084,634 (13,789,500) 971,404 (23,995,740) 27,270,798 (56,720,511) 122,963,485 66,242,974

(10,000,000) 188,129,001 173,000,000 (4,000,000) 12,596,610 42,960,300 (18,000,000) 384,685,911 (81,950,142) 204,913,627 122,963,485

(291,627) (13,789,500) (23,995,740) (38,076,867) (74,828,105) 96,399,158 21,571,053

64,827,747 173,000,000 (18,000,000) 219,827,747 (104,750,923) 201,150,081 96,399,158

-

-

-

20,289,992 34,629,395

15,942,515 27,114,612

17,240,710 23,707,696

13,568,735 23,660,664

The accompanying notes are an integral part of the financial statements.

ANNUAL REPORT

2004 ::: 77


78 ::: √“¬ß“πª√–®”ªï

2547

ß∫· ¥ß°“√‡ª≈’ˬπ·ª≈ß à«π¢ÕߺŸâ∂◊ÕÀÿâπ Statements of Changes in Shareholdersû Equity (Àπ૬ : ∫“∑) ß∫°“√‡ß‘π√«¡ °”‰√ – ¡ ∑ÿπ‡√◊ÕπÀâÿπ ∑’ËÕÕ°·≈– ™”√–·≈â«

¬Õ¥§ß‡À≈◊Õª≈“¬ªï 2545 °”‰√ ÿ∑∏‘ ”À√—∫ªï ‡ß‘πªíπº≈®à“¬ (À¡“¬‡Àµÿ 17) ‚Õπ‰ª ”√Õßµ“¡°ÆÀ¡“¬  à«π¢ÕߺŸâ∂◊ÕÀÿâπ à«ππâÕ¬„π¢“¥∑ÿπ ÿ∑∏‘¢Õß∫√‘…—∑¬àÕ¬ °“√≈ß∑ÿπ‡æ‘Ë¡„π∫√‘…—∑¬àÕ¬ ¬Õ¥§ß‡À≈◊Õª≈“¬ªï 2546 °”‰√ ÿ∑∏‘ ”À√—∫ªï ‡ß‘πªíπº≈®à“¬ (À¡“¬‡Àµÿ 17) ‚Õπ‰ª ”√Õßµ“¡°ÆÀ¡“¬  à«π¢ÕߺŸâ∂◊ÕÀÿâπ à«ππâÕ¬„𰔉√ ÿ∑∏‘¢Õß∫√‘…—∑¬àÕ¬ ¬Õ¥§ß‡À≈◊Õª≈“¬ªï 2547

 à«π‡°‘π ¡Ÿ≈§à“Àâπÿ

 ”√Õß µ“¡°ÆÀ¡“¬

600,000,000 23,780,791 600,000,000 23,780,791 600,000,000 23,780,791

¬—߉¡à ‰¥â ®—¥ √√

 à«π¢Õߺâ∂Ÿ Õ◊ Àâπÿ  à«ππâÕ¬¢Õß ∫√‘…∑— ¬àÕ¬

1,473,662 27,999,573 70,013,131 (18,000,000) 3,500,656 (3,500,656) (708,930) 42,960,300 4,974,318 76,512,048 42,251,370 40,797,607 (23,995,740) 2,039,880 (2,039,880) 5,903,536 7,014,198 91,274,035 48,154,906

√«¡

653,254,026 70,013,131 (18,000,000) (708,930) 42,960,300 747,518,527 40,797,607 (23,995,740) 5,903,536 770,223,930

ß∫°“√‡ß‘π‡©æ“–¢Õß∫√‘…—∑œ °”‰√ – ¡

¬Õ¥§ß‡À≈◊Õª≈“¬ªï 2545 °”‰√ ÿ∑∏‘ ”À√—∫ªï ‡ß‘πªíπº≈®à“¬ (À¡“¬‡Àµÿ 17) ‚Õπ‰ª ”√Õßµ“¡°ÆÀ¡“¬ ¬Õ¥§ß‡À≈◊Õª≈“¬ªï 2546 °”‰√ ÿ∑∏‘ ”À√—∫ªï ‡ß‘πªíπº≈®à“¬ (À¡“¬‡Àµÿ 17) ‚Õπ‰ª ”√Õßµ“¡°ÆÀ¡“¬ ¬Õ¥§ß‡À≈◊Õª≈“¬ªï 2547

∑ÿπ‡√◊ÕπÀâÿπ ∑’ËÕÕ°·≈– ™”√–·≈â«

 à«π‡°‘π ¡Ÿ≈§à“Àâπÿ

 ”√Õß µ“¡°ÆÀ¡“¬

¬—߉¡à ‰¥â ®—¥ √√

√«¡

600,000,000 600,000,000 600,000,000

23,780,791 23,780,791 23,780,791

1,473,662 3,500,656 4,974,318 2,039,880 7,014,198

27,999,573 70,013,131 (18,000,000) (3,500,656) 76,512,048 40,797,607 (23,995,740) (2,039,880) 91,274,035

653,254,026 70,013,131 (18,000,000) 705,267,157 40,797,607 (23,995,740) 722,069,024

À¡“¬‡Àµÿª√–°Õ∫ß∫°“√‡ß‘π‡ªìπ à«πÀπ÷ËߢÕßß∫°“√‡ß‘ππ’È


”À√—∫ªï ‘Èπ ÿ¥«—π∑’Ë 31 ∏—𫓧¡ 2547 ·≈– 2546 / For the years ended 31 December 2004 and 2003

(Unit : Baht) CONSOLIDATED Retained earnings Issued and fully paind up share capital

Balance - end of year 2002 Net earnings for the year Dividend paid (Note 17) Transfer to statutory reserve Minority interest in net loss of subsidiaries Additional investment in subsidiaries Balance - end of year 2003 Net earnings for the year Dividend paid (Note 17) Transfer to statutory reserve Minority interest in net earning of subsidiaries Balance - end of year 2004

Appropriated -statutory Share premium reserve Unappropriated

Minority interest of subsidiaries

Total

653,254,026 600,000,000 23,780,791 1,473,662 27,999,573 70,013,131 70,013,131 (18,000,000) (18,000,000) 3,500,656 (3,500,656) (708,930) (708,930) 42,960,300 42,960,300 600,000,000 23,780,791 4,974,318 76,512,048 42,251,370 747,518,527 40,797,607 40,797,607 (23,995,740) (23,995,740) 2,039,880 (2,039,880) 5,903,536 5,903,536 600,000,000 23,780,791 7,014,198 91,274,035 48,154,906 770,223,930

THE COMPANY ONLY

Balance - end of year 2002 Net earnings for the year Dividend paid (Note 17) Transfer to statutory reserve Balance - end of year 2003 Net earnings for the year Dividend paid (Note 17) Transfer to statutory reserve Balance - end of year 2004

Issued and fully paind up share capital

Share premium

600,000,000 600,000,000 600,000,000

23,780,791 23,780,791 23,780,791

Retained earnings Appropriated -statutory Unappropriated reserve

1,473,662 3,500,656 4,974,318 2,039,880 7,014,198

27,999,573 70,013,131 (18,000,000) (3,500,656) 76,512,048 40,797,607 (23,995,740) (2,039,880) 91,274,035

Total

653,254,026 70,013,131 (18,000,000) 705,267,157 40,797,607 (23,995,740) 722,069,024

The accompanying notes are an integral part of the financial statements.

ANNUAL REPORT

2004 ::: 79


80 ::: √“¬ß“πª√–®”ªï

2547

À¡“¬‡Àµÿª√–°Õ∫ß∫°“√‡ß‘π Note to Financial Statements 1. ¢âÕ¡Ÿ≈∑—«Ë ‰ª ∫√‘…—∑ ™“≠Õ‘  √– ¥’‡«≈ÁÕª‡¡π∑å ®”°—¥ (¡À“™π) ®—¥µ—Èߢ÷Èπ‡ªìπ∫√‘…—∑®”°—¥·≈–µàÕ¡“‰¥â®¥∑–‡∫’¬π·ª√ ¿“懪ìπ ∫√‘…—∑¡À“™π ®”°—¥ µ“¡°ÆÀ¡“¬‰∑¬ ∫√‘…—∑œª√–°Õ∫°‘®°“√„πª√–‡∑»‰∑¬‚¥¬¡’∏ÿ√°‘®À≈—°§◊Õ°“√¢“¬À√◊Õ„À⇙à“Õ“§“√™ÿ¥ ·≈–æ—≤π“Õ —ßÀ“√‘¡∑√—æ¬å ´÷Ëß¡’∑’ËÕ¬Ÿà®¥∑–‡∫’¬πµ—ÈßÕ¬Ÿà‡≈¢∑’Ë 2922/181-187 ∂ππ‡æ™√∫ÿ√’µ—¥„À¡à ·¢«ß∫“ß°–ªî ‡¢µÀ⫬¢«“ß °√ÿ߇∑æ¡À“π§√ 2. À≈—°‡°≥±å„π°“√®—¥∑”ß∫°“√‡ß‘π√«¡ 2.1 ß∫°“√‡ß‘π√«¡π’ȉ¥â√«¡ß∫°“√‡ß‘π¢Õß∫√‘…—∑ ™“≠Õ‘  √– ¥’‡«≈ÁÕª‡¡π∑å ®”°—¥ (¡À“™π) (´÷ËßµàÕ‰ª‡√’¬°«à“ ç∫√‘…—∑œé) ·≈–∫√‘…—∑¬àÕ¬ Õß·Ààß §◊Õ ∫√‘…—∑ ™“≠Õ‘  √– ‡√ ´‘‡¥π´å ®”°—¥ ·≈–∫√‘…—∑ ™“≠Õ‘  √– «‘¿“æ≈ ®”°—¥ (´÷ËßµàÕ‰ª ‡√’¬°«à“ ç∫√‘…—∑¬àÕ¬é) ´÷Ëß∫√‘…—∑œ∂◊ÕÀÿâπÕ¬Ÿà√âÕ¬≈– 60 ·≈– √âÕ¬≈– 50 µ“¡≈”¥—∫ 2.2 ¬Õ¥§ß§â“ß √“¬°“√√–À«à“ß°—π∑’¡Ë  ’ “√– ”§—≠·≈–‡ß‘π≈ß∑ÿπ¢Õß∫√‘…∑— œ°—∫∑ÿπ‡√◊ÕπÀÿπâ ¢Õß∫√‘…∑— ¬àÕ¬‰¥âµ¥— ÕÕ° ®“°ß∫°“√‡ß‘π√«¡·≈â« 3. π‚¬∫“¬°“√∫—≠™’∑’Ë ”§—≠ ß∫°“√‡ß‘ππ’®È ¥— ∑”¢÷πÈ µ“¡¡“µ√∞“π°“√∫—≠™’∑°’Ë ”À𥂥¬ ¡“§¡π—°∫—≠™’·≈–ºŸ â Õ∫∫—≠™’√∫— Õπÿ≠“µ·Ààߪ√–‡∑»‰∑¬ ´÷Ëß¡’º≈∫—ߧ—∫µ“¡æ√–√“™∫—≠≠—µ‘°“√∫—≠™’ æ.». 2543 π‚¬∫“¬°“√∫—≠™’∑’Ë ”§—≠¢Õß∫√‘…—∑œ·≈–∫√‘…—∑¬àÕ¬‚¥¬ √ÿª¡’¥—ßµàÕ‰ªπ’È :3.1 °“√√—∫√Ÿ√â “¬‰¥â °) √“¬‰¥â®“° ‘∑∏‘°“√‡™à“√–¬–¬“« ∫√‘…—∑œ √—∫√Ÿâ√“¬‰¥â®“° ‘∑∏‘°“√‡™à“√–¬–¬“«µ“¡√–¬–‡«≈“‡™à“ ¢) √“¬‰¥â®“°§à“‡™à“·≈–§à“∫√‘°“√ √“¬‰¥â®“°§à“‡™à“„πÕ“§“√ ”π—°ß“π·≈–»Ÿπ¬å°“√§â“∫—π∑÷°‡ªìπ√“¬‰¥âµ“¡√–¬–‡«≈“°“√‡™à“ √“¬‰¥â§“à ∫√‘°“√∑’ˇ°’ˬ«¢âÕß®–√—∫√Ÿâ‡ªìπ√“¬‰¥â‡¡◊ËÕ„Àâ∫√‘°“√·≈â« §) √“¬‰¥â®“°°“√®”Àπà“¬ÀâÕß™ÿ¥ ”π—°ß“π √“¬‰¥â®“°°“√¢“¬ÀâÕß™ÿ¥ ”π—°ß“π√—∫√Ÿâ‡ªìπ√“¬‰¥â‡¡◊ËÕ¡’°“√∑” —≠≠“®–´◊ÈÕ®–¢“¬·≈–¡’°“√‚Õπ °√√¡ ‘∑∏‘·°àºŸâ´◊ÈÕÀ≈—ß®“°‰¥â√—∫™”√–®“°ºŸâ´◊ÈÕ§√∫∂â«π·≈â« ß) √“¬‰¥â®“°°“√¢“¬∑’Ë¥‘π √“¬‰¥â®“°°“√¢“¬∑’Ë¥‘π®–√—∫√Ÿâ‡¡◊ËÕ¡’°“√‚Õπ°√√¡ ‘∑∏‘Ï∑’Ë¥‘π„Àâ≈Ÿ°§â“·≈â« ®) √“¬‰¥â®“°°“√¢“¬∫â“πæ√âÕ¡∑’Ë¥‘π ∫√‘…∑— œ√—∫√Ÿ√â “¬‰¥â®“°°“√¢“¬∫â“πæ√âÕ¡∑’¥Ë π‘ ‡¡◊ÕË ß“π°àÕ √â“߇ √Á®µ“¡ —≠≠“·≈–¡’°“√‚Õπ°√√¡ ‘∑∏‘ ·°àºŸâ´◊ÈÕÀ≈—ß®“°‰¥â√—∫™”√–®“°ºŸâ´◊ÈÕ§√∫∂â«π·≈â« (Completion method) ©) √“¬‰¥â®“°°“√¢“¬Àπ૬„πÕ“§“√™ÿ¥æ—°Õ“»—¬ ∫√‘…—∑¬àÕ¬√—∫√Ÿâ√“¬‰¥â®“°°“√¢“¬Àπ૬„πÕ“§“√™ÿ¥æ—°Õ“»—¬ ‡¡◊ËÕ‰¥â¡’°“√∑” —≠≠“®–´◊ÈÕ®–¢“¬


∫√‘…—∑ ™“≠Õ‘  √– ¥’‡«≈ÁÕª‡¡π∑å ®”°—¥ (¡À“™π) ·≈–∫√‘…—∑¬àÕ¬ / CHARN ISSARA DEVELOPMENT PUBLIC COMPANY LIMITED AND ITS SUBSIDIARY COMPANIES

1. GENERAL INFORMATION Charn Issara Development Public Company Limited was incorporated as a limited company and subsequently transferred to be a public company under Thai laws. The Company operates in Thailand and its principle activity is sales or lease of office condominium and real estate development with its registered address being located at No. 2922/181-187, New Petchburi Road, Bangkapi Sub-district, Huaykwang District, Bangkok. 2. BASIS OF CONSOLIDATION 2.1 The consolidated financial statements include the financial statements of Charn Issara Development Public Company Limited (hereinafter called çCompanyé) and its two subsidiaries, Charn Issara Residence Co., Ltd. and Charn Issara Viphapol Co., Ltd. (hereinafter called ìsubsidiariesî) in which the Company holds 60% and 50% of equity, respectively. 2.2 Material intercompany balances and transactions, investment in the subsidiary company as presented in the Companyûs accounts and share capital of the subsidiary have been eliminated from the consolidated financial statements. 3. SIGNIFICANT ACCOUNTING POLICIES The financial statements have been prepared in accordance with accounting standards pronounced by the Institute of Certified Accountants and Auditors of Thailand which are effective under the Accounting Act B.E. 2543. Significant accounting policies adopted by the Company and its subsidiary company are summarized below :3.1 Revenue recognition a) Revenue from long-term lease Revenue from long-term lease is recognised evenly over the lease period. b) Rental and services income Rental income of units in office buildings and plaza is recognised on a time proportion basis. Related services income is recognised when service rendered. c) Revenue from sales of office building units Revenue from sales of office building units is recognized when agreements to purchase and to sell those units have been executed and the ownerships have been transferred to buyers after all payments received from the buyers. d) Revenue from sales of land Sales of land are recognized upon the occurrence of transfer of land ownership to the customer. e) Sales of land and houses Sales of land and houses are recognised as revenue when the construction work is completed and ANNUAL REPORT

2004 ::: 81


82 ::: √“¬ß“πª√–®”ªï

2547

„π®”π«π∑’‰Ë ¡àπÕâ ¬°«à“√âÕ¬≈– 40 ¢Õßæ◊πÈ ∑’∑Ë ‡’Ë ªî¥¢“¬ ·≈–‰¥â√∫— ‡ß‘π™”√–¢—πÈ µâπ®π∂÷ß√–¥—∫Àπ÷ßË ·≈â« ‡ß‘π¢—Èπµâπ∑’ˉ¥â√—∫™”√–°”À𥉫â∑’Ë√âÕ¬≈– 20 ¢Õß√“§“¢“¬ ‡æ◊ËÕ‡ªìπ‡ß◊ËÕπ‰¢„π°“√√—∫√Ÿâ√“¬‰¥â √“¬ ‰¥â®“°°“√¢“¬Àπ૬„πÕ“§“√™ÿ¥æ—°Õ“»—¬§”π«≥µ“¡«‘∏Õ’ µ— √“ à«π¢Õßß“π∑’∑Ë ”‡ √Á® (Percentageof-completion method) Õ—µ√“ à«π¢Õßß“π∑’∑Ë ”‡ √Á®‰¥â®“°°“√ª√–‡¡‘π¢Õß«‘»«°√Õ‘ √– √“¬‰¥â∑’Ë √—∫√Ÿ·â ≈â«·µà¬ß— ‰¡à∂ß÷ °”Àπ¥‡√’¬°™”√–µ“¡ —≠≠“· ¥ß‰«â‡ªìπ ç√“¬‰¥â∑¬’Ë ß— ‰¡à‰¥â‡√’¬°™”√–é „πß∫¥ÿ≈ 3.2 µâπ∑ÿπ§à“‡™à“/§à“∫√‘°“√·≈–µâπ∑ÿπ¢“¬ µâπ∑ÿπ§à“‡™à“·≈–§à“∫√‘°“√§”π«≥‚¥¬°“√ªíπ à«π§à“„™â®“à ¬∑’‡Ë °’¬Ë «‡π◊ÕË ß‚¥¬µ√ß°—∫Õ“§“√ ”π—°ß“𠇙àπ §à“¿“…’ ‚√߇√◊Õπ §à“ “∏“√≥Ÿª‚¿§ ·≈–§à“‡ ◊ËÕ¡√“§“µ“¡ —¥ à«π¢Õßæ◊Èπ∑’Ë„™âß“π„πÕ“§“√ „π°“√§”π«≥À“µâπ∑ÿπ°“√¢“¬∫â“πæ√âÕ¡∑’¥Ë π‘ ∫√‘…∑— œ·≈–∫√‘…∑— ¬àÕ¬‰¥â∑”°“√·∫àß √√µâπ∑ÿπ°“√æ—≤π“∑—ßÈ À¡¥ ∑’§Ë “¥«à“®–‡°‘¥¢÷πÈ (‚¥¬§”π÷ß∂÷ßµâπ∑ÿπ∑’‡Ë °‘¥¢÷πÈ ®√‘ߥ⫬) „Àâ°∫— ∫â“πæ√âÕ¡∑’¥Ë π‘ ∑’¢Ë “¬‰¥âµ“¡‡°≥±åæπ◊È ∑’∑Ë ¢’Ë “¬·≈â«®÷ß√—∫ √Ÿâ‡ªìπµâπ∑ÿπ¢“¬„πß∫°”‰√¢“¥∑ÿπµ“¡√“¬‰¥â®“°°“√¢“¬∑’ˉ¥â∫—π∑÷°‰«â „π°“√§”π«≥À“µâπ∑ÿπ¢“¬Àπ૬„πÕ“§“√™ÿ¥æ—°Õ“»—¬ ∫√‘…—∑¬àÕ¬‰¥â∑”°“√·∫àß √√µâπ∑ÿπ°“√æ—≤π“∑—ÈßÀ¡¥ ∑’§Ë “¥«à“®–‡°‘¥¢÷πÈ (‚¥¬§”π÷ß∂÷ßµâπ∑ÿπ∑’‡Ë °‘¥¢÷πÈ ®√‘ߥ⫬) „Àâ°∫— Àπ૬„πÕ“§“√™ÿ¥∑’¢Ë “¬‰¥âµ“¡‡°≥±åæπ◊È ∑’∑Ë ¢’Ë “¬ ·≈â« ®÷ß√—∫√Ÿâ‡ªìπµâπ∑ÿπ¢“¬„πß∫°”‰√¢“¥∑ÿπµ“¡Õ—µ√“ à«π¢Õßß“π∑’Ë∑”‡ √Á® µâπ∑ÿπß“π°àÕ √â“ß∑’ˇ°‘¥¢÷Èπ®√‘ß·µà¬—ß¡‘‰¥â®—¥ √√‡¢â“‡ªìπµâπ∑ÿπ¢“¬„πß∫°”‰√¢“¥∑ÿπ‰¥â· ¥ß¿“¬„µâÀ—«¢âÕ ç‚§√ß°“√√–À«à“ß°“√æ—≤π“é „πß∫¥ÿ≈ 3.3 ‡ß‘π ¥·≈–√“¬°“√‡∑’¬∫‡∑à“‡ß‘π ¥ ‡ß‘π ¥·≈–√“¬°“√‡∑’¬∫‡∑à“‡ß‘π ¥À¡“¬§«“¡√«¡∂÷ß‡ß‘π ¥ ‡ß‘πΩ“°∏𓧓√·≈–‡ß‘πΩ“°°—∫∫√‘…—∑‡ß‘π∑ÿπ ´÷Ëß ∂÷ß°”Àπ¥®à“¬§◊π„π√–¬–‡«≈“‰¡à‡°‘π 3 ‡¥◊Õπ π—∫µ—Èß·µà«—π∑’ËΩ“°·≈–ª√“»®“°¿“√–ºŸ°æ—π 3.4 ≈Ÿ°Àπ’È°“√§â“·≈–§à“‡º◊ËÕÀπ’È ß —¬®– Ÿ≠ ≈Ÿ°Àπ’È°“√§â“· ¥ßµ“¡¡Ÿ≈§à“ ÿ∑∏‘∑’˧“¥«à“®–‰¥â√—∫ §à“‡º◊ËÕÀπ’È ß —¬®– Ÿ≠µ—Èߢ÷Èπ‚¥¬°“√æ‘®“√≥“ª√– ∫°“√≥å „π°“√‡°Á∫Àπ’·È ≈–§«“¡ “¡“√∂„π°“√™”√–Àπ’¢È Õß≈Ÿ°Àπ’È ≥ «—π ‘πÈ ªï ª√–°Õ∫°—∫æ‘®“√≥“§«“¡æՇ撬ߢÕß§à“‡º◊ÕË Àπ’È ß —¬®– Ÿ≠ ‚¥¬∂◊Õµ“¡°“√ª√–‡¡‘π®“°Àπ’È∑’˧â“߇°‘π°”Àπ¥™”√–¢Õß≈Ÿ°Àπ’È·µà≈–√“¬ Àπ’È Ÿ≠®–∂Ÿ°µ—¥®”Àπà“¬ ‡¡◊ËÕ‰¡à “¡“√∂‡√’¬°‡°Á∫‡ß‘π‰¥â 3.5 ¥Õ°‡∫’Ȭ®à“¬∑’Ë∂◊Õ‡ªìπµâπ∑ÿπ ¥Õ°‡∫’Ȭ®à“¬∑’ˇ°‘¥®“°°“√°Ÿâ¬◊¡‡æ◊ËÕ„™â„π√–À«à“ß°“√°àÕ √â“ß‚§√ß°“√µà“ß Ê ∂◊Õ‡ªìπ à«πÀπ÷ËߢÕß√“§“∑ÿπ¢Õß ‚§√ß°“√ ·≈–®–À¬ÿ¥∫—π∑÷°‡¡◊ËÕ‚§√ß°“√‡ √Á® ¡∫Ÿ√≥åÀ√◊ÕÀ¬ÿ¥™–ß—°®π°«à“®–¡’°“√¥”‡π‘π°“√æ—≤π“µàÕ‰ª 3.6 ‡ß‘π≈ß∑ÿπ„π∫√‘…—∑¬àÕ¬ ‡ß‘π≈ß∑ÿπ„π∫√‘…—∑¬àÕ¬ („πß∫°“√‡ß‘π‡©æ“–¢Õß∫√‘…—∑œ) · ¥ß¡Ÿ≈§à“µ“¡«‘∏’ à«π‰¥â‡ ’¬ 3.7 ‡ß‘π≈ß∑ÿπ„π∫√‘…—∑∑’ˇ°’ˬ«¢âÕß°—π ‡ß‘π≈ß∑ÿπ„π∫√‘…—∑∑’ˇ°’ˬ«¢âÕß°—π´÷Ë߇ªìπµ√“ “√∑ÿπ∑’ˉ¡àÕ¬Ÿà„𧫓¡µâÕß°“√¢Õßµ≈“¥´÷Ëß∫√‘…—∑œ∂◊Õ‡ªìπ‡ß‘π ≈ß∑ÿπ∑—Ë«‰ª· ¥ß„π√“§“∑ÿπ ∫√‘…—∑œ®–∫—π∑÷°¢“¥∑ÿπ®“°°“√¥âÕ¬§à“(∂â“¡’)¢Õ߇ߑπ≈ß∑ÿπ∑—Ë«‰ª„πß∫°”‰√¢“¥∑ÿπ 3.8 ‡ß‘π≈ß∑ÿπ„π°Õß∑ÿπ√«¡Õ —ßÀ“√‘¡∑√—æ¬å ‡ß‘π≈ß∑ÿπ„πÀπ૬≈ß∑ÿπ¢Õß°Õß∑ÿπ√«¡Õ —ßÀ“√‘¡∑√—æ¬å´ß÷Ë ∫√‘…∑— œ∂◊Õ‡ªìπ‡ß‘π≈ß∑ÿπ„π∫√‘…∑— √à«¡ · ¥ß¡Ÿ≈§à“µ“¡ «‘∏’ à«π‰¥â‡ ’¬ ß∫°“√‡ß‘π¢Õß°Õß∑ÿπ√«¡Õ —ßÀ“√‘¡∑√—æ¬åπ¡’È °’ “√„™âπ‚¬∫“¬°“√∫—≠™’ ”À√—∫∫“ß√“¬°“√∑’·Ë µ°µà“ß®“°π‚¬∫“¬


the ownership has been transferred to the buyer after full payment has been received from the buyer (Completion method). f) Revenue from sales of residential condominium unit Sales of residential condominium units are recognised as revenue when sales contracts of not less than 40 percent of the area opened for sales have been executed and initial payments have been received up to a certain level. The minimum initial payment to be received is set at 20 percent of their selling price. Revenue from sales of residential condominium units is recognised on a percentage of completion method. The percentage of completion assessed by the independent engineers. The recognised revenue which is not yet due per the contract, has been presented under the caption of çUnbilled receivablesé in the balance sheet. 3.2 Cost of rental / services and cost of sales In determining cost of rental and services, expenses directly allocated with the office building such as household taxes, facilities expenses and depreciation expenses are attributed to cost of rental and services on the basis of used area. In determining the costs of sales of land and houses, the anticipated total development costs (after recognising the costs incurred to date) are attributed to units already sold on the basis of the salable area and then recognised as costs in the earnings statement on a completion basis. In determining cost of residential condominium units sold, the anticipated total development costs (after recognising the cost incurred to date) are attributed to units already sold on the basis of the salable area and then recognised as cost in the earnings statement according to the percentage of completion basis. The cost of construction actually incurred but not yet recognized as cost of sales in the earnings statement is presented as çProject under developmenté in the balance sheet. 3.3 Cash and cash equivalents Cash and cash equivalents include cash in hand and at banks and deposit with finance company with an original maturity of 3 months or less and free from commitments. 3.4 Trade accounts receivable and allowance for doubtful accounts Trade accounts receivable are stated at the net realisable value. Allowance for doubtful debts is provided for on the basis of collection experience and payment ability of the accounts receivable at the end of the year, taking into account the adequacy of allowance for doubtful accounts of overdue balance of each debtor. Bad debts will be written of for the accounts considered uncollectible. 3.5 Capitalisation of interest costs The interest costs of borrowings for use in the construction of the projects is capitalized as part o f the costs of those assets, with capitalization ceasing when the projects are completed, or when the construction is suspended and until active development resumes. 3.6 Investments in subsidiary company Investments in subsidiary company (in the Company's financial statements) are stated under the equity method. 3.7 Investments in related company ANNUAL REPORT

2004 ::: 83


84 ::: √“¬ß“πª√–®”ªï

2547

°“√∫—≠™’¢Õß∫√‘…∑— œ ∑—ßÈ π’È „π°“√∫—π∑÷°∫—≠™’µ“¡«‘∏ ’ «à π‰¥â‡ ’¬ ∫√‘…∑— œ‰¡à‰¥âª√—∫ª√ÿßß∫°“√‡ß‘π¥—ß°≈à“«„Àâ„™âπ‚¬∫“¬ ∫—≠™’‡¥’¬«°—π°—∫∫√‘…—∑œ 3.9 ∑’Ë¥‘π Õ“§“√·≈–Õÿª°√≥å ·≈–§à“‡ ◊ËÕ¡√“§“ ∑’¥Ë π‘ · ¥ßµ“¡√“§“∑ÿπ Õ“§“√·≈–Õÿª°√≥å· ¥ßµ“¡√“§“∑ÿπÀ—°¥â«¬§à“‡ ◊ÕË ¡√“§“ – ¡§à“‡ ◊ÕË ¡√“§“¢ÕßÕ“§“√ ·≈–Õÿª°√≥å §”π«≥®“°√“§“∑ÿπ¢Õß ‘π∑√—æ¬å‚¥¬„™â«‘∏’‡ âπµ√ßµ“¡Õ“¬ÿ°“√„™âß“π‚¥¬ª√–¡“≥¥—ßπ’È :Õ“§“√™ÿ¥ 20, 30 ªï  ‘Ëߪ√—∫ª√ÿßÕ“§“√™ÿ¥ 10 ªï ‡§√◊ËÕßµ°·µàß·≈–Õÿª°√≥å ”π—°ß“πÕ◊Ëπ Ê 3, 5 ªï ¬“πæ“Àπ– 5 ªï ‰¡à¡’°“√§‘¥§à“‡ ◊ËÕ¡√“§“ ”À√—∫∑’Ë¥‘π 3.10 ‡ß‘πµ√“µà“ߪ√–‡∑» √“¬°“√∑’‡Ë ªìπ‡ß‘πµ√“µà“ߪ√–‡∑»´÷ßË ‡°‘¥¢÷πÈ √–À«à“ߪⷪ≈ß§à“‡ªìπ‡ß‘π∫“∑‚¥¬„™âÕµ— √“ ·≈°‡ª≈’¬Ë π ≥ «—π∑’Ë ∑’‡Ë °‘¥√“¬°“√  ‘π∑√—æ¬å·≈–Àπ’ È π‘ ∑’‡Ë ªìπ‡ß‘πµ√“µà“ߪ√–‡∑»§ß‡À≈◊ÕÕ¬Ÿà ≥ «—π∑’„Ë πß∫¥ÿ≈‰¥â·ª≈ß§à“‡ªìπ‡ß‘π∫“∑‚¥¬„™â Õ—µ√“·≈°‡ª≈’ˬπ ≥ «—π∑’Ë„πß∫¥ÿ≈ °”‰√·≈–¢“¥∑ÿπ∑’ˇ°‘¥®“°°“√‡ª≈’ˬπ·ª≈ß„πÕ—µ√“·≈°‡ª≈’ˬπ‰¥â√«¡Õ¬Ÿà„π°“√§”π«≥º≈°“√¥”‡π‘πß“π 3.11 °“√„™âª√–¡“≥°“√∑“ß∫—≠™’ „π°“√®—¥∑”ß∫°“√‡ß‘π„À⇪ìπ‰ªµ“¡À≈—°°“√∫—≠™’∑√’Ë ∫— √Õß∑—«Ë ‰ª„π∫“ß°√≥’Ω“É ¬∫√‘À“√Õ“®µâÕß„™â°“√ª√–¡“≥ °“√√“¬°“√∫—≠™’∫“ß√“¬°“√ ´÷ßË ¡’º≈°√–∑∫µàÕ®”π«π‡ß‘π∑’·Ë  ¥ß„π ß∫°“√‡ß‘π·≈–À¡“¬‡Àµÿª√–°Õ∫ß∫°“√‡ß‘π ¥â«¬ ‡Àµÿπ’È º≈∑’ˇ°‘¥¢÷Èπ®√‘ß„π¿“¬À≈—ß®÷ßÕ“®·µ°µà“߉ª®“°®”π«π∑’˪√–¡“≥‰«â 3.12 °”‰√µàÕÀÿπâ ¢—πÈ æ◊πÈ ∞“π °”‰√µàÕÀÿπâ ¢—πÈ æ◊πÈ ∞“π§”π«≥‚¥¬°“√À“√°”‰√ ÿ∑∏‘ ”À√—∫ªï¥«â ¬®”π«π∂—«‡©≈’¬Ë ∂à«ßπÈ”Àπ—°¢ÕßÀÿπâ  “¡—≠∑’∂Ë Õ◊ ‚¥¬∫ÿ§§≈¿“¬πÕ°∑’ËÕÕ°®”Àπà“¬Õ¬Ÿà„π√–À«à“ߪï 3.13 ‡§√◊ËÕß¡◊Õ∑“ß°“√‡ß‘π ∫√‘…∑— œ‰¡à¡π’ ‚¬∫“¬∑’®Ë –ª√–°Õ∫∏ÿ√°√√¡µ√“ “√∑“ß°“√‡ß‘ππÕ°ß∫¥ÿ≈∑’‡Ë ªìπµ√“ “√Õπÿæπ— ∏å‡æ◊ÕË °“√‡°Áß°”‰√ À√◊Õ‡æ◊ËÕ°“√§â“ ‡§√◊ÕË ß¡◊Õ∑“ß°“√‡ß‘π∑’·Ë  ¥ß„πß∫¥ÿ≈ª√–°Õ∫¥â«¬‡ß‘π ¥·≈–‡ß‘πΩ“°∏𓧓√ ≈Ÿ°Àπ’·È ≈–‡®â“Àπ’°È “√§â“·≈–‡ß‘π°Ÿâ ¬◊¡®“° ∂“∫—π°“√‡ß‘π·≈–°√√¡°“√ ´÷Ëßπ‚¬∫“¬°“√∫—≠™’‡©æ“– ”À√—∫ √“¬°“√·µà≈–√“¬°“√‰¥â‡ªî¥‡º¬·¬°‰«â„π ·µà≈–À—«¢âÕ∑’ˇ°’ˬ«¢âÕß


Investments in related company which are non-marketable equity securities and held as other investments are valued at cost. Loss on impairment of investment value, if any, is included in determining earnings. 3.8 Investment in property fund Investment in property fund units, which is held as investment in an associated company, is stated under the equity method. The financial statements of the property fund are prepared under accounting policies which differ from those of the Company in some respects. However, for the purpose of recording the Company没s interest in the equity of the property fund, the Company has not adjusted the property fund没s financial statements to state then under the same accounting policies as applied by the Company. 3.9 Property, plant and equipment and depreciation Property is stated at cost. Plant and equipment are stated at cost less accumulated depreciation. Depreciation of plant and equipment is calculated by reference to their costs on a straight-line basis over the estimated useful lives as follows :Office condominium 20, 30 years Building improvement 10 years Furniture and other office equipment 3, 5 years Motor vehicles 5 years No depreciation is provided for land. 3.10 Foreign currencies Transactions in foreign currencies incurred during the year are translated into Baht at the rates ruling at the transaction dates. Assets and liabilities denominated in foreign currency outstanding at the balance sheet date are translated into Baht at the rates ruling at the balance sheet date. Exchange gains and losses are included in determining earnings. 3.11 Use of accounting estimates Preparation of financial statements in conformity with generally accepted accounting principles in certain circumstances requires management to make estimates and assumptions that affect the amounts reported in the accompanying financial statements and notes thereto. Actual results may differ from those estimates. 3.12 Basic earnings per share Basic earnings per share is determined by dividing net earnings for the year by the weighted average number of ordinary shares held by outsiders and outstanding during the year. 3.13 Financial instruments The Company has no policy to speculate in or engage in the trading of any financial derivative instruments. Financial instruments carried in the balance sheet include cash and bank balances, trade accounts receivable, trade accounts payable, and loan from financial institution and director. The particular recognition methods adopted are disclosed in the individual policy statements associated with each item.

ANNUAL REPORT

2004 ::: 85


86 ::: √“¬ß“πª√–®”ªï

2547

4. ≈Ÿ°Àπ’È°“√§â“ ¬Õ¥≈Ÿ°Àπ’È°“√§â“ ≥ «—π∑’Ë 31 ∏—𫓧¡ 2547 ·≈– 2546 ·¬°µ“¡Õ“¬ÿÀπ’È∑’˧â“ß™”√–‰¥â¥—ßπ’È :(Àπ૬ : ∫“∑) ß∫°“√‡ß‘π‡©æ“–∫√‘…—∑œ

ß∫°“√‡ß‘π√«¡ 2547 °‘®°“√∑’ˇ°’ˬ«¢âÕß°—π ¬—ß‰¡à∂÷ß°”Àπ¥™”√– ¿“¬„π 3 ‡¥◊Õπ ¡“°°«à“ 3 ‡¥◊Õπ ∂÷ß 6 ‡¥◊Õπ ¡“°°«à“ 6 ‡¥◊Õπ ∂÷ß 12 ‡¥◊Õπ ¡“°°«à“ 12 ‡¥◊Õπ Õ◊ËπÊ ¬—߉¡à∂÷ß°”Àπ¥™”√– ¿“¬„π 3 ‡¥◊Õπ ¡“°°«à“ 3 ‡¥◊Õπ ∂÷ß 6 ‡¥◊Õπ ¡“°°«à“ 6 ‡¥◊Õπ ∂÷ß 12 ‡¥◊Õπ ¡“°°«à“ 12 ‡¥◊Õπ √«¡≈Ÿ°Àπ’È°“√§â“ À—° : §à“‡º◊ËÕÀπ’È ß —¬®– Ÿ≠ ≈Ÿ°Àπ’È°“√§â“ -  ÿ∑∏‘

2546

2547

2546

716,877 4,619,907 202,245 5,539,029

527,565 202,245 729,810

718,240 7,019,907 2,400,000 4,800,000 7,252,245 22,190,392

2,996,365 4,650,000 202,245 7,848,610

3,968,289 4,189,839 217,288 203,500 7,576,428 16,155,344 21,694,373 (5,042,872) 16,651,501

3,904,582 5,692,004 514,241 49,664 8,481,316 18,641,807 19,371,617 (6,152,247) 13,219,370

3,968,289 4,189,839 217,288 203,500 7,576,428 16,155,344 38,345,736 (5,042,872) 33,302,864

3,904,582 5,692,004 514,241 49,664 8,481,316 18,641,807 26,490,417 (6,152,247) 20,338,170

5. √“¬°“√∏ÿ√°‘®°—∫°‘®°“√∑’ˇ°’ˬ«¢âÕß°—π „π√–À«à“ߪï ∫√‘…—∑œ¡’√“¬°“√∏ÿ√°‘®°—∫∫√‘…—∑¬àÕ¬ (µ—¥ÕÕ°®“°ß∫°“√‡ß‘π√«¡·≈â«) ∫√‘…—∑√à«¡∫√‘…—∑∑’ˇ°’ˬ«¢âÕß°—π (‡°’¬Ë «¢âÕß°—π‚¥¬°“√¡’°√√¡°“√·≈–/À√◊ÕºŸ∂â Õ◊ Àÿπâ √à«¡°—π) °√√¡°“√·≈–ºŸ∂â Õ◊ Àÿπâ √“¬°“√∏ÿ√°‘®¥—ß°≈à“«‡ªìπ‰ªµ“¡‡ß◊ÕË π‰¢·≈–‡°≥±å ∑’˵°≈ß√à1«¡°—π√–À«à“ß∫√‘…—∑œ °√√¡°“√ ºŸâ∂◊ÕÀÿâπ·≈–∫√‘…—∑‡À≈à“π—Èπ ‚¥¬ “¡“√∂ √ÿª‰¥â¥—ßπ’È :(Àπ૬ : ≈â“π∫“∑) ß∫°“√‡ß‘π ‡©æ“–¢Õß∫√‘…—∑œ

ß∫°“√‡ß‘π√«¡

√“¬°“√∏ÿ√°‘®°—∫∫√‘…—∑¬àÕ¬ (µ—¥ÕÕ°®“°ß∫°“√‡ß‘π√«¡·≈â«) ¥Õ°‡∫’ Ȭ√—∫ 7 √“¬‰¥â§à“∏√√¡‡π’¬¡∫√‘À“√ß“π √“¬°“√∏ÿ√°‘®°—∫∫√‘…—∑√à«¡ °”‰√®“°°“√®”Àπà“¬ÀâÕß™ÿ¥ √“¬‰¥â§à“∏√√¡‡π’¬¡∫√‘À“√ß“π √“¬°“√∏ÿ√°‘®°—∫∫√‘…—∑∑’ˇ°’ˬ«¢âÕß°—π °√√¡°“√·≈–ºŸâ∂◊ÕÀÿâπ √“¬‰¥â§à“‡™à“·≈–§à“∫√‘°“√ √“¬‰¥â§à“∏√√¡‡π’¬¡∫√‘À“√ß“π °”‰√®“°°“√§◊π∑ÿπ®“°‡ß‘π≈ß∑ÿπ „π∫√‘…—∑∑’ˇ°’ˬ«¢âÕß°—π ¥Õ°‡∫’Ȭ®à“¬ √“¬‰¥â§à“π���¬Àπâ“„π°“√¢“¬∑’Ë¥‘π

π‚¬∫“¬°“√°”Àπ¥√“§“

2547

2546

2547

2546

-

-

0.97 9.60

0.53 7.05

§‘¥¥Õ°‡∫’Ȭ„πÕ—µ√“ 6.5-7.75% µàÕªï √“§“µ“¡ —≠≠“

2.76

55.52 1.95

2.76

55.52 1.95

√“§“µ“¡ —≠≠“ √“§“µ“¡ —≠≠“

1.96

0.14 21.86

1.96

0.14 21.50

√“§“µ“¡ —≠≠“ √“§“µ“¡ —≠≠“

11.27 97 -

6.01 0.23 9.35

11.27 -

6.01 9.35

√“§“µ“¡∑’˵°≈ß°—𠧑¥¥Õ°‡∫’Ȭ„πÕ—µ√“ 2-7.75% µàÕªï √âÕ¬≈– 3 ¢Õß√“§“¢“¬


4. ACCOUNTS RECEIVABLE - TRADE As at 31 December 2004 and 2003, the aging of the outstanding balances of trade accounts receivable were as follows:(Unit : Baht) THE COMPANY ONLY

CONSOLIDATED

2004 Related parties Not yet due Under 3 months Overdue 3 to 6 months Overdue 6 to 12 months Overdue 12 months Others Not yet due Under 3 months Overdue 3 to 6 months Overdue 6 to 12 months Overdue 12 months Total accounts receivable - trade Less : Allowance for doubtful debts Total accounts receivable - trade - net

2003

2004

2003

716,877 4,619,907 202,245 5,539,029

527,565 202,245 729,810

718,240 7,019,907 2,400,000 4,800,000 7,252,245 22,190,392

2,996,365 4,650,000 202,245 7,848,610

3,968,289 4,189,839 217,288 203,500 7,576,428 16,155,344 21,694,373 (5,042,872) 16,651,501

3,904,582 5,692,004 514,241 49,664 8,481,316 18,641,807 19,371,617 (6,152,247) 13,219,370

3,968,289 4,189,839 217,288 203,500 7,576,428 16,155,344 38,345,736 (5,042,872) 33,302,864

3,904,582 5,692,004 514,241 49,664 8,481,316 18,641,807 26,490,417 (6,152,247) 20,338,170

5. RELATED PARTY TRANSACTIONS During the years, the Company had business transactions with its subsidiaries (eliminated from the consolidated financial statements), associated company, related companies (related by way of common directors and/or shareholders), director and shareholders. Such transactions, which have been concluded on the terms and basis as determined by the Company, its director, its shareholders and those companies, are summarised below :(Unit : Baht) Consolidated 2004 Transactions with subsidiaries (Eliminated from the consolidated financial statements) 7 income Interest Management fee income Transaction with associated company Gain on sale of condominium units Management fee income Transaction with related companies, director and shareholders Rental and service income Management fee income Gain on capital return from Investment in related company Interest expenses Commission income and sales of land

The Company Only

2003

2004

2003

Pricing policy

-

-

0.97 9.60

0.53 7.05

Interest at 6.5-7.75% per annum Contract price

2.76

55.52 1.95

2.76

55.52 1.95

Contract price Contract price

1.96

0.14 21.86

1.96

0.14 21.50

Contract price Contract price

11.27 0.97 -

6.01 0.23 9.35

11.27 -

6.01 9.35

Agreed price Interest at 2-7.75% per annum 3% of selling price

ANNUAL REPORT

2004 ::: 87


88 ::: √“¬ß“πª√–®”ªï

2547

¬Õ¥§ß‡À≈◊Õ§â“ߢÕß‡ß‘π°Ÿ¬â ¡◊ ®“°°√√¡°“√ §‘¥Õ—µ√“¥Õ°‡∫’¬È MLR ∫«°√âÕ¬≈– 2 µàÕªï ¡’°”Àπ¥™”√–§◊π‡¡◊ÕË ∑«ß∂“¡ Õ¬à“߉√°Á¥’ °√√¡°“√‰¡à¡§’ «“¡µ—ßÈ „®„π°“√‡√’¬°™”√–§◊π‡ß‘π°Ÿ¬â ¡◊ „π√–¬–‡«≈“Õ—π —πÈ ∫√‘…∑— œ·≈–∫√‘…∑— ¬àÕ¬®÷ß®—¥ª√–‡¿∑‡ß‘π°Ÿ¬â ¡◊ ¥—ß°≈à“«‡ªìπÀπ’È ‘π√–¬–¬“«· ¥ßÕ¬Ÿà„πß∫¥ÿ≈ ∫√‘…—∑¬àÕ¬·ÀàßÀπ÷Ë߉¥â¢“¬Õ“§“√™ÿ¥æ—°Õ“»—¬„Àâ°—∫∫ÿ§§≈∑’ˇ°’ˬ«¢âÕß°—π®”π«π 3  —≠≠“´÷Ëß¡’¡Ÿ≈§à“√«¡ª√–¡“≥ 36 ≈â“π∫“∑·≈–„π√–À«à“ߪï∫√‘…∑— ¬àÕ¬‰¥â√∫— √Ÿ√â “¬‰¥âµ“¡ —¥ à«π¢Õßß“π∑’∑Ë ”‡ √Á®„π à«π¢Õß —≠≠“¥—ß°≈à“«·≈⫇ªìπ¡Ÿ≈§à“ª√–¡“≥ 18.8 ≈â“π∫“∑ ¬Õ¥§ß‡À≈◊Õ¢Õß√“¬°“√¢â“ßµâπ ≥ «—π∑’Ë 31 ∏—𫓧¡ 2547 ·≈– 2546 ‰¥â· ¥ß·¬°µà“ßÀ“°„πß∫¥ÿ≈´÷ßË ¡’√“¬≈–‡Õ’¬¥ ¥—ßπ’È:(Àπ૬ : ∫“∑) ß∫°“√‡ß‘π√«¡ 2547 ≈Ÿ°Àπ’È°“√§â“ - ∫√‘…—∑¬àÕ¬ ∫√‘…—∑ ™“≠Õ‘  √– ‡√ ´‘‡¥π´å ®”°—¥ ∫√‘…—∑ ™“≠Õ‘  √– «‘¿“æ≈ ®”°—¥ ≈Ÿ°Àπ’È°“√§â“ - ∫√‘…—∑√à«¡ °Õß∑ÿπ√«¡Õ —ßÀ“√‘¡∑√—æ¬å∫“ß°Õ° ≈Ÿ°Àπ’È°“√§â“ - ∫ÿ§§≈∑’ˇ°’ˬ«¢âÕß°—π ≈Ÿ°Àπ’È°“√§â“ - ∫√‘…—∑∑’ˇ°’ˬ«¢âÕß°—π ∫√‘…—∑ ´’. ‡ÕÁ¡ ‡√ ‡µÕ√Õß∑å ®”°—¥ ∫√‘…—∑ Õ‘π‡µÕ√å‡π™—Ëπ·π≈ √’´Õ√å∑ ¥’‡«≈≈Õª‡¡π∑å ®”°—¥ À—° : §à“‡º◊ËÕÀπ’È ß —¬®– Ÿ≠ √«¡

ß∫°“√‡ß‘π‡©æ“–∫√‘…—∑œ

2546

2547

2546

-

-

16,650,000 1,363

7,050,000 68,800

716,877 3,459,907

447,565 -

716,877 3,459,907

447,565 -

202,245

202,245

202,245

202,245

1,160,000 5,539,029 (202,245) 5,336,784

80,000 729,810 (202,245) 527,565

1,160,000 22,190,392 (202,245) 21,988,147

80,000 7,848,610 (202,245) 7,646,365

(Àπ૬ : ∫“∑) ß∫°“√‡ß‘π√«¡ ‡ß‘π„Àâ°Ÿâ¬◊¡·°à∫√‘…—∑¬àÕ¬ ∫√‘…—∑ ™“≠Õ‘  √– «‘¿“æ≈ ®”°—¥ ¬Õ¥¬°¡“µâπªï ‡ß‘π„Àâ°Ÿâ¬◊¡„π√–À«à“ßªï ¥Õ°‡∫’Ȭ√–À«à“ßªï ¬Õ¥§ß‡À≈◊Õ ‘Èπªï

ß∫°“√‡ß‘π‡©æ“–∫√‘…—∑œ

2547

2546

-

-

2547

12,595,017 971,404 13,566,421

2546

12,500,000 95,017 12,595,017


The outstanding balance of loan from director carried interest rate at MLR plus 2 percent, and due at called. However, the director has no intention to redeem in short term period, the Company and a subsidiary have thus classify the loans as long-term liabilities presented in the balance sheet. The subsidiary has sold 3 contracts of the condominium unit to related individual which amounting approximately to Baht 36 million and during the year the subsidiary has recognized the revenues comply with the percentage of completion in those contracts amount to Baht 18.8 million. The outstanding balances of the above transactions as at 31 December 2004 and 2003 are separately shown in the balance sheet as follows:(Unit : Baht) THE COMPANY ONLY

CONSOLIDATED

2004 Trade accounts receivable - subsidiary Charn Issara Residence Company Limited Charn Issara Viphapol Company Limited Trade accounts receivable - associate company Bangkok Commercial Property Fund Trade accounts receivable - related individual Trade accounts receivable - related companies C.M. Restaurant Company Limited International Resources DevelopmentLimited Less : Allowance for doubtful debts Total

2003

2004

2003

-

-

16,650,000 1,363

7,050,000 68,800

716,877 3,459,907

477,565 -

716877 3,459,907

447,565 -

202,245 1,160,000 5,539,029 (202,245) 5,336,784

202,245 80,000 729,810 (202,245) 527,565

202,245 1,160,000 22,190,392 (202,245) 21,988,147

202,245 80,000 7,848610 (202,245) 7,646,365

(Unit : Baht) THE COMPANY ONLY

CONSOLIDATED

2004 Loans to subsidiary Charn Issara Viphapol Company Limited Balance - brought forward Lending during the year Interest during the year Ending balances

2003

-

-

2004

2003

12,595,017 971,404 13,566,421

12,500,000 95,017 12,595,017

ANNUAL REPORT

2004 ::: 89


90 ::: √“¬ß“πª√–®”ªï

2547 ß∫°“√‡ß‘π√«¡

‡ß‘π°Ÿâ¬◊¡√–¬–¬“«®“°°√√¡°“√ ¬Õ¥¬°¡“µâπªï √—∫‡ß‘π®“°°“√°Ÿâ¬◊¡„π√–À«à“ßªï ¥Õ°‡∫’Ȭ√–À«à“ßªï ¬Õ¥§ß‡À≈◊Õ ‘Èπªï

2547

2546

12,596,610 971,404 13,568,014

12,500,000 96,610 12,596,610

ß∫°“√‡ß‘π√«¡·≈– ß∫°“√‡ß‘π‡©æ“–¢Õß∫√‘…—∑ 2547

(Àπ૬ : ∫“∑)

(Àπ૬ : ∫“∑)

2546

≈Ÿ°Àπ’È∫√‘…—∑∑’ˇ°’ˬ«¢âÕß°—π ∫√‘…—∑ Õ‘π‡µÕ√å‡π™—Ëπ·π≈ √’´Õ√å∑ ¥’‡«≈≈Õª‡¡π∑å ®”°—¥ ≈Ÿ°Àπ’È∫√‘…—∑√à«¡ °Õß∑ÿπ√«¡Õ —ßÀ“√‘¡∑√—æ¬å∫“ß°Õ° √«¡≈Ÿ°Àπ’È°‘®°“√∑’ˇ°’ˬ«¢âÕß°—π

-

6,381,292

-

57,783 6,439,075

‡®â“Àπ’È∫√‘…—∑√à«¡ °Õß∑ÿπ√«¡Õ —ßÀ“√‘¡∑√—æ¬å∫“ß°Õ°

-

13,680,297

6. ‚§√ß°“√√–À«à“ß°“√æ—≤π“ (Àπ૬ : ∫“∑) ß∫°“√‡ß‘π√«¡

µâπ∑ÿπ∑’Ë¥‘π·≈–§à“æ—≤π“∑’Ë¥‘π µâπ∑ÿπß“π°àÕ √â“ß µâπ∑ÿπ¥Õ°‡∫’Ȭ®à“¬ √«¡ À—° : ®”π«π – ¡∑’Ë‚Õπ‡ªìπµâπ∑ÿπ¢“¬ Õ —ßÀ“√‘¡∑√—æ¬å √«¡µâπ∑ÿπ‚§√ß°“√√–À«à“ß°“√æ—≤π“

ß∫°“√‡ß‘π‡©æ“–∫√‘…—∑œ

2547

2546

2547

2546

580,825,025 555,689,043 41,624,668 1,178,138,736

582,164,692 122,734,104 14,654,094 719,552,890

364,980,000 303,579,822 24,056,740 692,616,562

364,980,000 87,843,625 10,540,251 463,363,876

(323,044,542) 855,094,194

(26,602,476) 692,950,414

(171,545,509) 521,071,053

(14,087,280) 449,276,596

∫√‘…∑— œ·≈–∫√‘…∑— ¬àÕ¬‰¥â®¥®”πÕß∑’¥Ë π‘ ·≈– ‘ßË ª≈Ÿ° √â“ß¡Ÿ≈§à“¢Õß‚§√ß°“√∑—ßÈ À¡¥‡æ◊ÕË §È”ª√–°—π‡ß‘π°Ÿ¬â ¡◊ √–¬–¬“«¢Õß∫√‘…∑— œ


CONSOLIDATED

Long-term loan from director Balance - brought forward Cash received from loan during the year Interest charged during the year Ending balances

(Unit : Baht)

2004

2003

12,596,610 971,404 13,568,014

12,500,000 96,610 12,596,610

CONSOLIDATED AND THE COMPANY ONLY 2004

(Unit : Baht)

2003

Amount due from related companies International Resources Development Ltd. Amount due from associated company Bangkok Commercial Property Fund Total amount due from related parties

-

6,381,292

-

57,783 6,439,075

Amount due to associated company Bangkok Commercial Property Fund

-

13,680,297

6. PROJECT UNDER DEVELOPMENT (Unit : Baht) CONSOLIDATED

Cost of land and development cost Construction costs Interest cost Total Less : Transferred to cost of real estate sales Total project under development

THE COMPANY ONLY

2004

2003

2004

2003

580,825,025 555,689,043 41,624,668 1,178,138,736

582,164,692 122,734,104 14,654,094 719,552,890

364,980,000 303,579,822 24,056,740 692,616,562

364,980,000 87,843,625 10,540,251 463,363,876

(323,044,542) 855,094,194

(26,602,476) 692,950,414

(171,545,509) 521,071,053

(14,087,280) 449,276,596

The Company and its subsidiaries has mortgaged all of its land and construction thereon in the project in order to secure the Company没s long-term loans. ANNUAL REPORT

2004 ::: 91


92 ::: √“¬ß“πª√–®”ªï

2547

7. ‡ß‘πΩ“°∏𓧓√∑’Ë¡’¿“√–§È”ª√–°—π ≥ «—π∑’Ë 31 ∏—𫓧¡ 2547 ∫√‘…—∑œ·≈–∫√‘…—∑¬àÕ¬‰¥âπ”‡ß‘πΩ“°ª√–®”∏𓧓√®”π«πª√–¡“≥ 3.4 ≈â“π∫“∑ (2546: 3.4 ≈â“π∫“∑) ‰ª«“߉«â°—∫∏𓧓√‡æ◊ËէȔª√–°—π°“√ÕÕ°Àπ—ß ◊էȔª√–°—π¢Õß∏𓧓√„ππ“¡¢Õß∫√‘…—∑œ ·≈–∫√‘…—∑¬àÕ¬ 8. ‡ß‘π≈ß∑ÿπ´÷ßË ∫—π∑÷°‚¥¬«‘∏ ’ «à π‰¥â‡ ’¬ (Àπ૬ : ∫“∑) ‡ß‘π≈ß∑ÿπ ™◊ËÕ∫√‘…—∑

ª√–‡¿∑°‘®°“√

‡ß‘π≈ß∑ÿπ„π∫√‘…—∑¬àÕ¬ ∫√‘…—∑ ™“≠Õ‘  √– æ—≤π“ ‡√ ´‘‡¥π´å ®”°—¥ Õ —ßÀ“√‘¡∑√—æ¬å ∫√‘…—∑ ™“≠Õ‘  √– æ—≤π“ «‘¿“æ≈ ®”°—¥ Õ —ßÀ“√‘¡∑√—æ¬å √«¡‡ß‘π≈ß∑ÿπ„π∫√‘…—∑¬àÕ¬ ‡ß‘π≈ß∑ÿπ„π∫√‘…—∑√à«¡ °Õß∑ÿπ√«¡ ≈ß∑ÿπ„π Õ —ßÀ“√‘¡∑√—æ¬å Õ —ßÀ“√‘¡∑√—æ¬å ∫“ß°Õ° √«¡‡ß‘π≈ß∑ÿπ„π∫√‘…—∑¬àÕ¬·≈–∫√‘…—∑√à«¡

 —¥ à«π ∑ÿπ™”√–·≈â« ‡ß‘π≈ß∑ÿπ «‘∏’√“§“∑ÿπ 2547 2546 2547 2546 2547 2546 ≈â“π∫“∑ ≈â“π∫“∑ √âÕ¬≈– √âÕ¬≈–

«‘∏’ à«π‰¥â‡ ’¬ 2547

2546

100

100

60

60 60,000,000 60,000,000 55,669,658

59,063,225

6

6

50

50 2,999,700 2,999,700 11,041,216 62,999,700 62,999,700 66,710,874

2,875,286 61,938,511

1,000

1,000

33.3

33.3 333,000,000 333,000,000 322,893,071 316,982,876 395,999,700 395,999,700 389,603,945 378,921,387

‡¡◊ËÕ«—π∑’Ë 12 ¡’π“§¡ ·≈– 27 ¡’π“§¡ 2546 ∑’˪√–™ÿ¡«‘ “¡—≠ºŸâ∂◊ÕÀÿâπ¢Õß∫√‘…—∑ ™“≠Õ‘  √–‡√ ´‘‡¥π´å ®”°—¥ ¡’¡µ‘Õπÿ¡—µ‘„Àâ‡æ‘Ë¡∑ÿπ‡√◊ÕπÀÿâπ®“° 100,000 ∫“∑ (Àÿâπ “¡—≠ 1,000 Àÿâπ ¡Ÿ≈§à“Àÿâπ≈– 100 ∫“∑) ‡ªìπ 100,000,000 ∫“∑ (Àÿâπ “¡—≠ 1,000,000 Àÿâπ ¡Ÿ≈§à“Àÿâπ≈– 100 ∫“∑) ´÷Ëß∫√‘…—∑œ µâÕß°“√∑’Ë®–√—°…“ —¥ à«π°“√∂◊ÕÀÿâπ‰«â§ß‡¥‘¡ ®÷߉¥â∑”°“√≈ß∑ÿπ ‡æ‘¡Ë „π∫√‘…∑— ¬àÕ¬¥—ß°≈à“«‡ªìπ®”π«π‡ß‘π 59,940,000 ∫“∑ ∫√‘…∑— ¥—ß°≈à“«‰¥â®¥∑–‡∫’¬π°“√‡æ‘¡Ë ∑ÿπ¥—ß°≈à“«°—∫°√–∑√«ßæ“≥‘™¬å·≈â« ‡¡◊ËÕ«—π∑’Ë 7 µÿ≈“§¡ 2546 ∫√‘…—∑œ ‰¥â≈ß∑ÿπ„πÀÿâπ “¡—≠¢Õß∫√‘…—∑ ™“≠Õ‘  √– «‘¿“æ≈ ®”°—¥ ®”π«π 29,997 Àÿâπ ¡Ÿ≈§à“µ√“‰«âÀÿâπ≈– 100 ∫“∑ ™”√–‡µÁ¡¡Ÿ≈§à“·≈â« ‚¥¬¡’ —¥ à«π‡ß‘π≈ß∑ÿπ√âÕ¬≈– 50 ‡¡◊ÕË «—π∑’Ë 10 °—𬓬π 2546 ∑’ªË √–™ÿ¡§≥–°√√¡°“√∫√‘…∑— œ§√—ßÈ ∑’Ë 9/2546 ‰¥â¡¡’ µ‘Õπÿ¡µ— „‘ Àâ ∫√‘…∑— œ¥”‡π‘π‚§√ß°“√°“√ ®—¥°“√∑√—æ¬å ‘π·≈–°“√≈ß∑ÿπ‚¥¬ºà“π°“√®—¥°“√°Õß∑ÿπ√«¡Õ —ßÀ“√‘¡∑√—æ¬å (°Õß 1) ‚¥¬¿“¬„µâ‚§√ß°“√¥—ß°≈à“« ¡’¢—ÈπµÕπ °“√¥”‡π‘πß“π¥—ßµàÕ‰ªπ’È:1. ∫√‘…∑— œ„™â ∑‘ ∏‘´Õ◊È §◊π∑√—æ¬å π‘ ∑’‡Ë ªìπÀâÕß™ÿ¥®“°∏𓧓√·ÀàßÀπ÷ßË µ“¡ —≠≠“ª√—∫‚§√ß √â“ßÀπ’È ‡ªìπ®”π«π‡ß‘π 276.7 ≈â“π∫“∑ 2. ∫√‘…—∑œ¢“¬∑√—æ¬å ‘π¢Õß∫√‘…—∑œ∑’ˇªìπÀâÕß™ÿ¥∫“ß à«πæ√âÕ¡∑—Èß ‘Ëߪ≈Ÿ° √â“ß„Àâ°—∫°Õß∑ÿπ√«¡ ‚¥¬¡’¡Ÿ≈§à“ 711 ≈â“π∫“∑ 3. ‡¡◊ÕË °Õß∑ÿπ√«¡‰¥â®¥— µ—ßÈ ¢÷πÈ ·≈â« ∫√‘…∑— œ∑”Àπâ“∑’‡Ë ªìπºŸ®â ¥— °“√ ‘π∑√—æ¬å¢Õß°Õß∑ÿπ√«¡·≈– ºŸ∫â √‘À“√Õ —ßÀ“√‘¡∑√—æ¬å¢Õß°Õß ∑ÿπ√«¡ 4. ∫√‘…—∑œ≈ß∑ÿπ„π°Õß∑ÿπ√«¡‡ªìπ®”π«π‡ß‘π 333 ≈â“π∫“∑


7. RESTRICTED BANK DEPOSITS As at 31 December 2004, the Company and its subsidiaries had pledged its fixed deposits of approximately Baht 3.4 million (2003: Baht 3.4 million) to secure bank guarantees issued by banks on behalf of the Company and its subsidiaries. 8. INVESTMENT ACCOUNTED FOR UNDER EQUITY METHOD (Unit : Baht)

Company Name Type of business

Paid up Captal 2004 Million Baht

Investment in subsidiaries Charn Issara Property Residence Co., Ltd. Development Charn Issara Property Viphapol Co., Ltd. Development Total investment in subsidiaries Investment in associated company Bangkok Invest in Commercial Property Property Fund Total investment in subsidiary and associated companies

Percentage of Shareholding

2003 Million Baht

2004 %

2003 %

Investment Cost method Equity method 2004

2003

2004

2003

100

100

60

60 60,000,000 60,000,000 55,669,658 59,063,225

6

6

50

50 2,999,700 2,999,700 11,041,216 2,875,286 62,999,700 62,999,700 66,710,874 61,938,511

1,000

1,000

33.3

33.3 333,000,000 333,000,000 322,893,071 316,982,876 395,999,700 395,999,700 389,603,945 378,921,387

On 12 march and 27 March 2003 extraordinary meetings of the shareholders of Charn Issara Residence Co., Ltd. resolved to increase its share capital from Baht 100,000 (1,000 ordinary shares of Baht 100 each) to Baht 100,000,000 (1,000,000 ordinary shares of Baht 100 each). The Company would like to maintain its holding percentage through additional investment in the subsidiary company amounting to 59,940,000 Baht. The above company already registered the capital increase with the Ministry of Commerce. On 7 October 2003, the Company invested in 29,997 ordinary shares with a par value of Baht 100 each, fully paid up, in Charn Issara Viphapol Co., Ltd., representing a 50% interest in this company. The meeting of the Board of Directors No. 9/2003 held on 10 September 2003, approved a resolution to proceed the asset management and investment project by property fund management (Fund 1). Below are the procedures of the above project:1. The Company exercised the right to buy back the condominium units from a bank in accordance with debt restructuring agreement of Baht 276.7 million. ANNUAL REPORT

2004 ::: 93


94 ::: √“¬ß“πª√–®”ªï

2547

5. ∫√‘…∑— œ‰¥â°¬Ÿâ ¡◊ ‡ß‘π®“°∏𓧓√„πª√–‡∑»·ÀàßÀπ÷ßË ‡æ◊ÕË „™â„π°“√´◊ÕÈ §◊πÀâÕß™ÿ¥·≈–≈ß∑ÿπ„π°Õß∑ÿπ√«¡ µ“¡∑’°Ë ≈à“«¡“·≈â« ¢â“ßµâπ  à«π·∫àߺ≈°”‰√®“°°“√≈ß∑ÿπ„π∫√‘…∑— √à«¡(°Õß∑ÿπ√«¡Õ —ßÀ“√‘¡∑√—æ¬å) ”À√—∫ªï§”π«≥®“°ß∫°“√‡ß‘π´÷ßË µ√«® Õ∫‚¥¬ºŸâ  Õ∫∫—≠™’¢Õß°Õß∑ÿπ¥—ß°≈à“«„π√–À«à“ߪï∫—≠™’ªí®®ÿ∫—π ∫√‘…—∑œ‰¥â√—∫‡ß‘πªíπº≈®”π«πª√–¡“≥ 13.75 ≈â“π∫“∑®“°°Õß∑ÿπ √«¡Õ —ßÀ“√‘¡∑√—æ¬å¥—ß°≈à“« ∫√‘…∑— œ ‰¥âπ”„∫Àπ૬≈ß∑ÿπ¢Õß°Õß∑ÿπÕ —ßÀ“√‘¡∑√—æ¬å∫“ß°Õ°‰ª®”π”°—∫∏𓧓√·ÀàßÀπ÷ßË ‡æ◊ÕË ‡ªìπÀ≈—°∑√—æ¬å§È”ª√–°—π ‡ß‘π°Ÿâ¬◊¡¢Õß∫√‘…—∑œ 9. ‡ß‘π≈ß∑ÿπ„π∫√‘…—∑∑’ˇ°’ˬ«¢âÕß°—π (Àπ૬ : ∫“∑) ™◊ËÕ∫√‘…—∑ (ª√–‡¿∑°‘®°“√)

∫√‘…—∑ Õ‘π‡µÕ√å‡π™—Ëπ·π≈ √’´Õ√å∑ ¥’‡«≈≈Õª‡¡π∑å ®”°—¥ (æ—≤π“Õ —ßÀ“√‘¡∑√—æ¬å)

∑ÿπ™”√–·≈â« 2547 2546 ≈â“π∫“∑ ≈â“π∫“∑

1,898

2,048

 —¥ à«π‡ß‘π≈ß∑ÿπ 2547 √âÕ¬≈–

16

‡ß‘π≈ß∑ÿπ

2546 √âÕ¬≈–

16

2547 ∫“∑

160,830,302

2546 ∫“∑

173,541,133

„π‰µ√¡“ ∑’Ë 2 ¢Õߪï 2546 ∫√‘…—∑œ ‰¥â√—∫°“√§◊π∑ÿπ®“°°“√≈¥∑ÿπ„πÀÿâπ “¡—≠¢Õß∫√‘…—∑∑’ˇ°’ˬ«¢âÕß°—π®”π«π 127,908 Àÿâπ „π√“§“Àÿâπ≈– 100 ∫“∑ ·≈–∫—π∑÷°°”‰√®“°°“√√—∫§◊π∑ÿπ¥—ß°≈à“«®”π«πª√–¡“≥ 6 ≈â“π∫“∑ „πß∫°”‰√¢“¥∑ÿπ ”À√—∫ªï 2546 „π√–À«à“߉µ√¡“  2 ¢Õߪï 2547 ∫√‘…∑— œ‰¥â√∫— °“√§◊π∑ÿπ®“°°“√≈¥∑ÿπ„πÀÿπâ  “¡—≠¢Õß∫√‘…∑— ∑’‡Ë °’¬Ë «¢âÕß°—π®”π«π 239,827 Àÿπâ „π√“§“Àÿπâ ≈– 100 ∫“∑ ·≈–∫—π∑÷°°”‰√®“°°“√√—∫§◊π∑ÿπ¥—ß°≈à“«®”π«πª√–¡“≥ 11 ≈â“π∫“∑ „πß∫°”‰√¢“¥∑ÿπ ”À√—∫ªï ªí®®ÿ∫—π·≈â« Õ¬à“߉√°Áµ“¡ ≥ «—π∑’Ë 31 ∏—𫓧¡ 2547 ∫√‘…—∑¥—ß°≈à“«¬—ß¡‘‰¥â‡√‘Ë¡¥”‡π‘π‚§√ß°“√


2. The Company sold some of its condominium units and construction thereon to property fund at a total of Baht 711 million. 3. The Company acted as the Asset manager and Property manager when the property fund is established. 4. The Company invested in property fund amounting to Baht 333 million. 5. The Company requested a loan from a local bank to be used in buying back the condominium units and invest in property fund as mentioned above. The computation of the Company没s share of gain from investment in an associated company (Bangkok Commercial Property Fund) for the year was based on financial statements audited by the fund没s auditor. During the current year, the Company has received the dividend approximately Baht 13.75 million from those property fund. The property fund unit certificates have been pledged as collateral for a loan obtained by the Company. 9. INVESTMENT IN RELATED COMPANY (Unit : Baht)

Company (Nature of business)

Paid up Captal 2004 Million Baht

International Resources Development Ltd. (Property development)

1,898

2003 Million Baht

2,048

Percentage of Shareholding

2004 Percent

16

Investment (Cost)

2003 Percent

16

2004 Baht

2003 Baht

160,830,302

173,541,133

During the second quarter of 2003, the Company received cash return form capital reduction in 127,908 ordinary shares of related company at Baht 100 each and recorded the gain on such capital return of approximately Baht 6 million in the earnings statements for the year 2003. During the second quarter of 2004, the Company received cash return form capital reduction in 239,827 ordinary shares of related company at Baht 100 each and recorded the gain on such capital return of approximately Baht 11 million in the earnings statements for the current year. However, as at 31 December 2004, the invested company is not still to operate its project.

ANNUAL REPORT

2004 ::: 95


96 ::: √“¬ß“πª√–®”ªï

2547

10. ∑’Ë¥‘π Õ“§“√·≈–Õÿª°√≥å (Àπ૬ : ∫“∑) ß∫°“√‡ß‘π√«¡ ‡§√◊ËÕßµ°·µàß ß“π√–À«à“ß  ‘ßË ª√—∫ª√ÿß ·≈–Õÿª°√≥å Õ“§“√™ÿ¥ Õ“§“√™ÿ¥  ”π—°ß“πÕ◊ËπÊ ¬“πæ“Àπ– ª√—∫ª√ÿß

∑’¥Ë π‘ √“§“∑ÿπ 31 ∏—𫓧¡ 2546 ´◊ÕÈ ‡æ‘¡Ë ‚Õπ‡¢â“/(‚ÕπÕÕ°) 31 ∏—𫓧¡ 2547 §à“‡ ◊ËÕ¡√“§“ – ¡ 31 ∏—𫓧¡ 2546 §à“‡ ◊ËÕ¡√“§“ ”À√—∫ªï 31 ∏—𫓧¡ 2547 ¡Ÿ≈§à“ ÿ∑∏‘µ“¡∫—≠™’ 31 ∏—𫓧¡ 2547 31 ∏—𫓧¡ 2546

√«¡

7,856,319 7,856,319

35,480,595 35,480,595

12,567,951 24,358,900 36,926,851

16,298,628 4,142,283 (3,767,194) 16,673,717

5,070,055 1,334,000 6,404,055

3,274,398 21,440,546 (24,358,900) 356,044

80,547,946 26,916,829 (3,767,194) 103,697,581

-

9,072,065 1,211,534 10,283,599

8,762,625 7,206,359 15,968,984

11,218,974 830,165 12,049,139

2,763,444 1,026,501 3,789,945

-

31,817,108 10,274,559 42,091,667

7,856,319 7,856,319

25,196,996 26,408,530

20,957,867 3,805,326

4,624,578 5,079,654

2,614,110 2,306,611

356,044 3,274,398

61,605,914 48,730,838

§à“‡ ◊ÕË ¡√“§“∑’√Ë «¡Õ¬Ÿ„à πß∫°”‰√¢“¥∑ÿπ  ”À√—∫ªï 2547 2546

10,274,559 19,286,926


10. PROPERTY, PLANT AND EQUIPMENT (Unit : Baht)

CONSOLIDATED Construction Furniture and in Office Building other office Motor progress Condominium Improvement equipment vehicles

Land

Total

Cost 31 December 2003 7,856,319 Purchases Transfer in /(Transfer out) 31 December 2004 7,856,319

35,480,595 35,480,595

12,567,951 24,358,900 36,926,851

16,298,628 4,142,283 (3,767,194) 16,673,717

5,070,055 3,274,398 80,547,946 1,334,000 21,440,546 26,916,829 - (24,358,900) (3,767,194) 6,404,055 356,044 103,697,581

Accumulated depreciation 31 December 2003 Depreciation for the year 31 December 2004

-

9,072,065 1,211,534 10,283,599

8,762,625 7,206,359 15,968,984

11,218,974 830,165 12,049,139

2,763,444 1,026,501 3,789,945

-

31,817,108 10,274,559 42,091,667

Net book value 31 December 2004 7,856,319 31 December 2003 7,856,319

25,196,996 26,408,530

20,957,867 3,805,326

4,624,578 5,079,654

2,614,110 2,306,611

356,044 3,274,398

61,605,914 48,730,838

Depreciation in the earnings statements for the year 2004 2003

10,274,559 19,286,926

ANNUAL REPORT

2004 ::: 97


98 ::: √“¬ß“πª√–®”ªï

2547 (Àπ૬ : ∫“∑) ß∫°“√‡ß‘π‡©æ“–¢Õß∫√‘…—∑

√“§“∑ÿπ 31 ∏—𫓧¡ 2546 ´◊ÕÈ ‡æ‘¡Ë ‚Õπ‡¢â“/(‚ÕπÕÕ°) 31 ∏—𫓧¡ 2547 §à“‡ ◊ËÕ¡√“§“ – ¡ 31 ∏—𫓧¡ 2546 §à“‡ ◊ËÕ¡√“§“ ”À√—∫ªï 31 ∏—𫓧¡ 2547 ¡Ÿ≈§à“ ÿ∑∏‘µ“¡∫—≠™’ 31 ∏—𫓧¡ 2547 31 ∏—𫓧¡ 2546

∑’¥Ë π‘

‡§√◊ËÕßµ°·µàß ß“π√–À«à“ß  ‘ßË ª√—∫ª√ÿß ·≈–Õÿª°√≥å Õ“§“√™ÿ¥ Õ“§“√™ÿ¥  ”π—°ß“πÕ◊ËπÊ ¬“πæ“Àπ– ª√—∫ª√ÿß

7,856,319 7,856,319

35,480,595 35,480,595

12,567,951 24,358,900 36,926,851

15,939,096 2,592,828 (3,228,931) 15,320,993

5,070,055 1,284,000 6,354,055

3,274,398 21,084,502 (24,358,900) -

80,188,414 24,961,330 (3,228,931) 101,920,813

-

9,072,065 1,211,534 10,283,599

8,762,625 7,206,359 15,968,984

11,182,106 568,537 11,750,643

2,763,444 1,024,528 3,787,972

-

31,780,240 10,010,958 41,791,198

7,856,319 7,856,319

25,196,996 26,408,530

20,957,867 3,805,326

3,552,350 4,756,990

2,566,083 2,306,611

3,274,398

60,129,615 48,408,174

§à“‡ ◊ÕË ¡√“§“∑’√Ë «¡Õ¬Ÿ„à πß∫°”‰√¢“¥∑ÿπ  ”À√—∫ªï 2547 2546

√«¡

10,010,958 19,250,446

≥ «—π∑’Ë 31 ∏—𫓧¡ 2547 ∫√‘…—∑œ ¡’Õÿª°√≥å®”π«πÀπ÷Ëß´÷Ëßµ—¥§à“‡ ◊ËÕ¡√“§“À¡¥·≈â«·µà¬—ß„™âß“πÕ¬Ÿà √“§“∑ÿπ°àÕπ À—°§à“‡ ◊ËÕ¡√“§“ – ¡¢Õß ‘π∑√—æ¬å¥—ß°≈à“«¡’®”π«π‡ß‘π 14 ≈â“π∫“∑ 11. ‡ß‘π°Ÿâ¬◊¡√–¬– —Èπ ¬Õ¥§ß‡À≈◊Õ¥—ß°≈à“«‡ªìπ‡ß‘π°Ÿâ¬◊¡®“°∏𓧓√„πª√–‡∑»·ÀàßÀπ÷Ë߇æ◊ËÕ„™â„π°“√´◊ÈÕÀπ૬≈ß∑ÿπ¢Õß°Õß∑ÿπ√«¡ Õ —ßÀ“√‘¡∑√—æ¬å·ÀàßÀπ÷Ëß ‡ß‘π°Ÿâ¬◊¡¥—ß°≈à“«§‘¥¥Õ°‡∫’Ȭ„πÕ—µ√“√âÕ¬≈– 4.5 µàÕªï ·≈–¡’°”Àπ¥™”√–§◊π¿“¬„π«—π∑’Ë 3 惻®‘°“¬π 2547 „π√–À«à“ߪï∫√‘…∑— œ “¡“√∂¥”‡π‘π°“√¢Õ‡≈◊ÕË π°”Àπ¥°“√™”√–§◊π‡ß‘π°Ÿ¬â ¡◊ ¥—ß°≈à“«‰ª‡ªìπ¿“¬„π«—π∑’Ë 3 惻®‘°“¬π 2548 ‡ß‘π°Ÿâ¬◊¡¥—ß°≈à“«¡’À≈—°ª√–°—π§◊Õ°“√®”π”„∫Àπ૬≈ß∑ÿπ¢Õß°Õß∑ÿπ√«¡Õ —ßÀ“√‘¡∑√—æ¬å¥—ß°≈à“«  —≠≠“‡ß‘π°Ÿ¬â ¡◊ π’¡È ¢’ Õâ °”À𥇪ìπ°“√∑—«Ë ‰ª∑’∫Ë √‘…∑— œµâÕߪؑ∫µ— À‘ ≈“¬ª√–°“√ ‡™àπ °“√¥”√ßÕ—µ√“ à«πÀπ’ È π‘ µàÕ∑ÿ𠇪ìπµâπ


(Unit : Baht)

THE COMPANY ONLY Construction Furniture and in Office Building other office Motor progress Condominium Improvement equipment vehicles

Land

Total

Cost 31 December 2003 7,856,319 Purchases Transfer in /(Transfer out) 31 December 2004 7,856,319

35,480,595 35,480,595

12,567,951 24,358,900 36,926,851

15,939,096 2,592,828 (3,228,931) 15,302,993

5,070,055 3,274,398 80,188,414 1,284,000 21,084,502 24,961,330 - (24,358,900) (3,228,931) 6,354,055 - 101,920,813

Accumulated depreciation 31 December 2003 Depreciation for the year 31 December 2004

-

9,072,065 1,211,534 10,283,599

8,762,625 7,206,359 15,968,984

11,182,106 568,537 11,750,643

2,763,444 1,024,528 3,787,972

-

31,780,240 10,010,958 41,791,198

Net book value 31 December 2004 7,856,319 31 December 2003 7,856,319

25,196,996 26,408,530

20,957,867 3,805,326

3,552,350 4,756,990

2,566,083 2,306,611

3,274,398

60,129,615 48,408,174

Depreciation in the earnings statements for the year 2004 2003

10,010,958 19,250,446

As at 31 December 2004 certain equipment items have been fully depreciated but are still in use. The original cost, before deducting accumulated depreciation, of those assets amounted to Baht 14 million. 11. SHORT-TERM LOANS The outstanding balance represents a loan obtained from a local bank to purchase property fund units. Interest on the loan is charged at 4.5% per annum and the loan is to be repaid within 3 November 2004. However, the Company has success to negotiate with the bank to postpone the due date to be with in 3 November 2005. The facility is secured by the pledge of the property fund unit certificates. The loan agreement contains certain conditions which the Company has to observe, such as the maintenance of debt to equity ratio.

ANNUAL REPORT

2004 ::: 99


100 ::: √“¬ß“πª√–®”ªï

2547

12. ‡ß‘π°Ÿâ¬◊¡√–¬–¬“« ß∫°“√‡ß‘π√«¡

‡ß‘π°Ÿâ¬◊¡√–¬–¬“« À—° :  à«π¢Õ߇ߑπ°Ÿâ¬◊¡√–¬–¬“«∑’Ë∂÷ß°”Àπ¥ ™”√–¿“¬„πÀπ÷Ëßªï ‡ß‘π°Ÿâ¬◊¡√–¬–¬“« -  ÿ∑∏‘

(Àπ૬ : ∫“∑) ß∫°“√‡ß‘π‡©æ“–∫√‘…—∑œ

2547

2546

2547

2546

442,213,635

378,129,001

254,536,120

254,827,747

261,315,509 180,898,126

378,129,001

112,066,150 142,469,970

254,827,747

‡¡◊ËÕ«—π∑’Ë 19 ¡’π“§¡ 2546 ∫√‘…—∑œ‰¥â∑” —≠≠“°Ÿâ¬◊¡‡ß‘π®“°∏𓧓√„πª√–‡∑»·ÀàßÀπ÷Ëß„π«ß‡ß‘π 535 ≈â“π∫“∑ ‡æ◊ËÕ„™â „π°“√°àÕ √â“ß‚§√ß°“√ ≥ «—π∑’Ë 31 ∏—𫓧¡ 2547 ∫√‘…—∑œ‰¥â‡∫‘°‡ß‘π°Ÿâ¬◊¡¥—ß°≈à“«®“°∏𓧓√·≈⫇ªìπ®”π«π 396 ≈â“π∫“∑ (31 ∏—𫓧¡ 2546: 263 ≈â“π∫“∑) ‡ß‘π°Ÿ¬â ¡◊ ¥—ß°≈à“«§‘¥¥Õ°‡∫’¬È „πÕ—µ√“ MLR µàÕªï·≈–¡’°”Àπ¥™”√–§◊π‡¡◊ÕË ¡’°“√ª≈Õ¥®”πÕßÀ≈—° ª√–°—π„Àâ·°à≈Ÿ°§â“∑’Ë´◊ÈÕ∑’Ë¥‘πæ√âÕ¡ ‘Ëߪ≈Ÿ° √â“ß„π‚§√ß°“√‚¥¬™���√–§◊π„πÕ—µ√“√âÕ¬≈– 70 ¢Õß√“§“¢“¬∑’Ë¥‘πæ√âÕ¡ ‘Ëߪ≈Ÿ° √â“ß ∑’Ë¢Õª≈Õ¥®”πÕß ∑—Èßπ’È∫√‘…—∑œ®–µâÕß™”√–§◊π‡ß‘π°Ÿâ¬◊¡∑—ÈßÀ¡¥¿“¬„πªï 2549 ‡ß‘π°Ÿâ¬◊¡¥—ß°≈à“«¡’À≈—°ª√–°—π§◊Õ°“√®¥®”πÕß∑’Ë¥‘πæ√âÕ¡ ‘Ëߪ≈Ÿ° √â“ß„π‚§√ß°“√¢Õß∫√‘…—∑œ ∫√‘…—∑¬àÕ¬∑—Èß Õß·Àà߉¥â∑” —≠≠“°Ÿâ¬◊¡‡ß‘π®“°∫√‘…—∑‡ß‘π∑ÿπ„πª√–‡∑»„π«ß‡ß‘π√«¡ 536 ≈â“π∫“∑ (2546: 488 ≈â“π ∫“∑) ‡æ◊ËÕ„™â„π°“√™”√–§à“∑’Ë¥‘π·≈–§à“°àÕ √â“ß„π‚§√ß°“√¢Õß∫√‘…—∑¬àÕ¬ ≥ «—π∑’Ë 31 ∏—𫓧¡ 2547 ∫√‘…—∑¬àÕ¬‰¥â‡∫‘°‡ß‘π°Ÿâ ¬◊¡¥—ß°≈à“«·≈⫇ªìπ®”π«π 226 ≈â“π∫“∑ ‡ß‘π°Ÿ¬â ¡◊ ¥—ß°≈à“«§‘¥¥Õ°‡∫’¬È „πÕ—µ√“‡∑’¬∫‡§’¬ß°—∫ MLR ¢Õß∏𓧓√‰∑¬æ“≥‘™¬å ®”°—¥ (¡À“™π)µàÕªï·≈–¡’°”Àπ¥™”√–§◊π‡¡◊ÕË ¡’°“√ª≈Õ¥®”πÕßÀ≈—°ª√–°—π„Àâ·°à≈°Ÿ §â“∑’´Ë Õ◊È ∑’¥Ë π‘ æ√âÕ¡ ‘ßË ª≈Ÿ° √â“ß„π‚§√ß°“√µ“¡Õ—µ√“ ∑’Ë°”À𥉫â„π —≠≠“°Ÿâ¬◊¡‡ß‘π ∑—Èßπ’È∫√‘…—∑¬àÕ¬®–µâÕß™”√–§◊π‡ß‘π°Ÿâ¬◊¡∑—ÈßÀ¡¥¿“¬„πªï 2549 ‡ß‘π°Ÿâ¬◊¡¥—ß°≈à“«¡’À≈—°ª√–°—π§◊Õ°“√®¥®”πÕß∑’Ë¥‘πæ√âÕ¡ ‘Ëߪ≈Ÿ° √â“ß„π‚§√ß°“√¢Õß∫√‘…—∑¬àÕ¬  —≠≠“‡ß‘π°Ÿ‰â ¥â√–∫ÿ¢Õ⠪ؑ∫µ— ·‘ ≈–¢âÕ®”°—¥∫“ߪ√–°“√µ“¡ª°µ‘¢Õß°“√„Àâ°¬Ÿâ ¡◊ √–¬–¬“« ‚¥¬∑—«Ë ‰ª ‡™àπ ¢âÕ®”°—¥„π°“√ ¢“¬À√◊Õ°“√°àÕ„À⇰‘¥¿“√–µ‘¥æ—π°—∫ ‘π∑√—æ¬å∂“«√ °“√‡æ‘Ë¡∑ÿπ °“√≈¥∑ÿπ œ≈œ 13.  ”√Õßµ“¡°ÆÀ¡“¬ µ“¡æ√–√“™∫—≠≠—µ‘∫√‘…—∑¡À“™π®”°—¥ æ.». 2535 ∫√‘…—∑œ®–µâÕß®—¥ √√°”‰√ ÿ∑∏‘ª√–®”ªï à«πÀπ÷Ë߉«â‡ªìπ∑ÿπ ”√Õß µ“¡°ÆÀ¡“¬‰¡àπâÕ¬°«à“√âÕ¬≈–Àâ“¢Õß°”‰√ ÿ∑∏‘ª√–®”ªïÀ—°¥â«¬¬Õ¥¢“¥∑ÿπ – ¡¬°¡“ (∂â“¡’) ®π°«à“∑ÿπ ”√Õßπ’È®–¡’®”π«π ‰¡àπâÕ¬°«à“√âÕ¬≈– ‘∫¢Õß∑ÿπ®¥∑–‡∫’¬π  ”√Õßµ“¡°ÆÀ¡“¬¥—ß°≈à“«‰¡à “¡“√∂𔉪®à“¬‡ªìπ‡ß‘πªíπº≈‰¥â 14. √“¬‰¥â§“à ‡™à“·≈–§à“∫√‘°“√ ‡¥‘¡®”π«ππ’ȉ¥â√«¡√“¬‰¥â§à“‡™à“·≈–§à“∫√‘°“√®“°ÀâÕß™ÿ¥ ”π—°ß“π·≈–√â“π§â“„Àâ‡™à“ à«πÀπ÷ËߢÕß∫√‘…—∑œ®”π«π 191 ¬Ÿπµ‘ §‘¥‡ªìπæ◊πÈ ∑’ªË √–¡“≥√âÕ¬≈– 49 ¢Õßæ◊πÈ ∑’„Ë À⇙à“∑—ßÈ À¡¥ ´÷ßË ‡ªìπÀâÕß™ÿ¥∑’∫Ë √‘…∑— œ‰¥â‚Õπ°√√¡ ‘∑∏‘„Àâ·°à∏𓧓√·ÀàßÀπ÷ßË ‡æ◊ÕË ™”√–Àπ’·È ≈–‰¥â‡™à“°≈—∫¡“®“°∏𓧓√¥—ß°≈à“«µ“¡ —≠≠“ª√—∫‚§√ß √â“ßÀπ’·≈–∏𓧓√„Àâ È  ∑‘ ∏‘·°à∫√‘…∑— œ´◊ÕÈ §◊πÀâÕß™ÿ¥¥—ß°≈à“«°àÕπ ∫ÿ§§≈Õ◊ËπÀ√◊Õ®—¥À“∫ÿ§§≈¿“¬πÕ°¡“´◊ÈÕ§◊π‰¥â¿“¬„π«—π∑’Ë 29 ¡‘∂ÿπ“¬π 2546 ·µàÕ¬à“߉√°Áµ“¡ ∫√‘…—∑œ‰¥â∑” —≠≠“‡™à“ ÀâÕß ™ÿ¥¥—ß°≈à“«°—∫∏𓧓√µàÕ®π∂÷ß«—π∑’Ë 29 ¡‘∂ÿπ“¬π 2548 ·≈–µàÕ¡“‡¡◊ËÕ«—π∑’Ë 24 µÿ≈“§¡ 2546 ∫√‘…—∑œ ‰¥â´◊ÈÕ§◊πÀâÕß™ÿ¥¥—ß °≈à“«®”π«π 69 ¬Ÿπ‘µ „π√“§“‚Õπ°√√¡ ‘∑∏‘Ï™”√–Àπ’È∫«°¥â«¬¥Õ°‡∫’Ȭ„πÕ—µ√“√âÕ¬≈– 5.75 µàÕªï π—∫µ—Èß·µà«—π∑’Ë‚Õπ°√√¡ ‘∑∏‘Ï∂÷ß


12. LONG-TERM LOANS (Unit : Baht) CONSOLIDATED

2004 Long-term loans Less : current portion of long-term loans Long-term Loans - net

2003

THE COMPANY ONLY

2003

2004

442,213,635

378,129,001

254,536,120

254,827,747

261,315,509 180,898,126

378,129,001

112,066,150 142,469,970

254,827,747

On 19 March 2003, the Company entered into loan agreements with a local bank to obtain a loan facility of Baht 535 million to be used for construction of the CompanyĂ­s project. As at 31 December 2004 the Company had drawn down Baht 396 million (2003: Baht 263 Million) from the loan facility provided by the bank. Interest on the loans is charged at MLR per annum and the loans are due for repayment whenever mortgaged assets are released for sale to customers of the project, at a rate of 70 percent of the price at which the land and construction is sold. However, the loan is to be repaid in full on or before 2006. This facility is secured by the mortgage of land and construction thereon in the project of the Company. Two subsidiaries entered into loan agreements with local finance companies to obtain facilities to totaling Baht 536 million (2003: Baht 488 Million) in order to purchase land and paid for construction cost of their projects. As at 31 December 2004 the subsidiaries had drawn down Baht 226 million from the loan facilities. Interest on the loans are charged at rates close to MLR per annum of Siam Commercial Bank Plc. and the loans are due for repayment whenever mortgaged assets are released for sale to customers of the project at a rate stipulated in the loan agreements. However, the loans are to be repaid in full on or before 2006. These loan facilities are secured by the mortgage of land and construction thereon in the projects of the subsidiaries. The loan agreement stipulates certain covenants normal for long-term loans such as restrictions on the disposal of fixed assets or the creation of lien thereon, the increase of capital, and the reduction of capital. 13. STATUTORY RESERVE According to the Public Limited Companies Act B.E. 2535, the Company is required to set aside a statutory reserve at least 5 percent of its net profit after deducting accumulated deficit brought forward (if any) until the reserve reaches 10 percent of the registered share capital. The statutory reserve could not be used for dividend payment. 14. RENTAL AND SERVICES INCOME Formerly, this included rental and services income generated from 191 office and shop condominium units representing approximately 49 percent of the area available for rental, which the Company transferred to a bank in settlement of debt and then leased back from the bank, in accordance with the debt restructuring agreement. The Company had first option to purchase the above condominium units or to arrange for third parties to buy them, until 29 June 2003. However, the Company entered into an agreement with the bank to lease ANNUAL REPORT

2004 ::: 101


102 ::: √“¬ß“πª√–®”ªï

2547

«—π´◊ÈÕ§◊π πÕ°®“°π’È ∫√‘…—∑œ  “¡“√∂‡®√®“µàÕÕ“¬ÿ ‘∑∏‘„π°“√´◊ÈÕ§◊π ”À√—∫ÀâÕß™ÿ¥∑’ˇÀ≈◊ÕÕ¬ŸàÀ≈—ß®“°´◊ÈÕ§◊π¥—ß°≈à“«‰ª‰¥â®π∂÷ß 31 ∏—𫓧¡ 2547 ªí®®ÿ∫—π∫√‘…—∑œ Õ¬Ÿà„π√–À«à“ß°“√¢ÕµàÕÕ“¬ÿ ‘∑∏‘„π°“√´◊ÈÕ§◊π ”À√—∫ÀâÕß™ÿ¥∑’ˇÀ≈◊Õ ´÷Ë߬—߉¡à‰¥âº≈ √ÿª 15. §à“µÕ∫·∑π°√√¡°“√ §à“µÕ∫·∑π°√√¡°“√π’‡È ªìπº≈ª√–‚¬™πå∑®’Ë “à ¬„Àâ·°à°√√¡°“√¢Õß∫√‘…∑— œµ“¡¡“µ√“ 90 ¢Õßæ√–√“™∫—≠≠—µ∫‘ √‘…∑— ¡À“™π ®”°—¥ ‚¥¬‰¡à√«¡‡ß‘π‡¥◊Õπ·≈–º≈ª√–‚¬™πå∑’ˇ°’ˬ«¢âÕß∑’Ë®à“¬„Àâ°—∫°√√¡°“√∫√‘À“√ 16. ¿“…’‡ß‘π‰¥â𵑠∫‘ §ÿ §≈ ∫√‘…—∑œ‰¡à¡’¿“√–¿“…’‡ß‘π‰¥â𑵑∫ÿ§§≈®“°°”‰√ ÿ∑∏‘ ”À√—∫ªï 2547 ·≈– 2546 ‡π◊ËÕß®“°º≈¢“¥∑ÿπ∑“ß¿“…’´÷Ë߬°¡“ ®“°ªï°àÕπ Ê ¡’®”π«π Ÿß°«à“°”‰√ ÿ∑∏‘ ”À√—∫ªï ¿“…’‡ß‘π‰¥â𵑠∫‘ §ÿ §≈ ”À√—∫ªï¢Õß∫√‘…∑— ¬àÕ¬ §”π«≥¢÷πÈ À≈—ß®“°∫«°°≈—∫°”‰√∑“ß∫—≠™’¥«â ¬§à“„™â®“à ¬µà“ß Ê ´÷ßË ‰¡à “¡“√∂ ∂◊Õ‡ªìπ√“¬®à“¬„π°“√§”π«≥¿“…’‡ß‘π‰¥â ·≈–À—°¥â«¬º≈¢“¥∑ÿπ∑“ß¿“…’¬°¡“®“°ªï°àÕπ 17. ‡ß‘πªíπº≈ ‡¡◊ËÕ«—π∑’Ë 24 ‡¡…“¬π 2546 ∑’˪√–™ÿ¡ “¡—≠ª√–®”ªïºŸâ∂◊ÕÀÿâπ§√—Èß∑’Ë 1/2546 ‰¥â¡’¡µ‘Õπÿ¡—µ‘„Àâ∫√‘…—∑œ ®à“¬‡ß‘πªíπº≈®“° °”‰√ªï 2545 „Àⷰຟâ∂◊ÕÀÿâπ„πÕ—µ√“Àÿâπ≈– 0.15 ∫“∑ (√«¡‡ªìπ‡ß‘π∑—Èß ‘Èπ 18 ≈â“π∫“∑) ‡ß‘πªíπº≈π’ȉ¥â®à“¬·≈–∫—π∑÷°∫—≠™’·≈â« „πªï 2546 ‡¡◊ËÕ«—π∑’Ë 29 ‡¡…“¬π 2547 ∑’˪√–™ÿ¡ “¡—≠ª√–®”ªïºŸâ∂◊ÕÀÿâπ§√—Èß∑’Ë 1/2547 ‰¥â¡’¡µ‘Õπÿ¡—µ‘„Àâ∫√‘…—∑œ ®à“¬‡ß‘πªíπº≈®“° °”‰√ªï 2546 „Àⷰຟâ∂◊ÕÀÿâπ„πÕ—µ√“Àÿâπ≈– 0.20 ∫“∑ (√«¡‡ªìπ‡ß‘π∑—Èß ‘Èπ 24 ≈â“π∫“∑) ‡ß‘πªíπº≈π’ȉ¥â®à“¬·≈–∫—π∑÷°∫—≠™’·≈â« „π√–À«à“ߪïªí®®ÿ∫—π 18. ®”π«π·≈–§à“„™â®à“¬‡°’ˬ«°—∫æπ—°ß“π

(Àπ૬ : ∫“∑) ß∫°“√‡ß‘π‡©æ“–∫√‘…—∑œ

ß∫°“√‡ß‘π√«¡ 2547 ®”π«πæπ—°ß“π ≥ «—π ‘Èπªï (§π) §à“„™â®à“¬‡°’ˬ«°—∫æπ—°ß“π ”À√—∫ªï (æ—π∫“∑)

63 25,785

2546 50 17,416

2547 52 22,676

2546 50 17,416

19. °Õß∑ÿπ ”√Õ߇≈’Ȭߙ’æ ∫√‘…∑— œ·≈–∫√‘…∑— ¬àÕ¬·≈–æπ—°ß“π¢Õß∫√‘…∑— œ‰¥â√«à ¡°—π®—¥µ—ßÈ °Õß∑ÿπ ”√Õ߇≈’¬È ß™’æ¿“¬„µâ°“√Õπÿ¡µ— ®‘ “°°√–∑√«ß°“√ §≈—ßµ“¡æ√–√“™∫—≠≠—µ‘°Õß∑ÿπ ”√Õ߇≈’Ȭߙ’æ æ.». 2530 ´÷Ëߪ√–°Õ∫¥â«¬‡ß‘π∑’Ëæπ—°ß“π®à“¬ – ¡‡ªìπ√“¬‡¥◊Õπ·≈–∫√‘…—∑œ ®à“¬ ¡∑∫„Àâ„πÕ—µ√“√âÕ¬≈– 5 ¢Õ߇ߑπ‡¥◊Õπ °Õß∑ÿπ ”√Õ߇≈’¬È ß™’æπ’∫È √‘À“√‚¥¬∫√‘…∑— À≈—°∑√—æ¬å®¥— °“√°Õß∑ÿπ√«¡ ∫’‚Õ‡Õ ®”°—¥ ·≈–®–®à“¬„Àâ°∫— æπ—°ß“π„π°√≥’ÕÕ° ®“°ß“πµ“¡√–‡∫’¬∫¢Õß°Õß∑ÿπ „π√–À«à“ߪïªí®®ÿ∫—π∫√‘…—∑œ·≈–∫√‘…—∑¬àÕ¬‰¥â®à“¬‡ß‘π ¡∑∫°Õß∑ÿπ‡ªìπ®”π«π 825,806 ∫“∑ (2546: 210,991 ∫“∑)


the condominiums until 29 June 2005. Subsequently, on 24 October 2004, the Company bought back 69 condominium units at the price used for the transfer of ownership in settlement of debt, plus interest determined at the rate of 5.75% per annum as from the transfer date to the buy back date. In addition, the Company has successfully negotiated an extension of the buy back option for the remaining condominium units to 31 December 2004. The Company is currently negotiated to extend the option of buy back for the remained units which not yet conclude. 15. DIRECTORSรป REMUNERATION Directorsรป remuneration represents the benefits paid to the Companyรปs directors in accordance with Section 90 of the Public Limited Companies Act, exclusive of salaries and related benefits payable to executive directors. 16. CORPORATE INCOME TAX No corporate income tax was payable on the net earnings for the years 2004 and 2003 since the tax losses brought forward from previous years exceed net earnings for the year. Corporate income tax for the year of the subsidiary company was calculated based on accounting profit after adding back expenses which are non deductible for tax computation purposes, and deducting tax losses brought forward from prior year. 17. DIVIDEND At the Annual General Meeting of the Companyรปs shareholders No. 1/2003 held on 24 April 2003, it was resolved that the Company pay a dividend of Baht 0.15 per share (totaling Baht 18 million) to its shareholders in respect of the 2002 earnings. Such dividend was already paid and recorded in year 2003. At the Annual General Meeting of the Companyรปs shareholders No. 1/2004 held on 29 April 2004, it was resolved that the Company pay a dividend of Baht 0.20 per share (totaling Baht 24 million) to its shareholders in respect of the 2003 earnings. Such dividend was already paid and recorded during the current year. 18. NUMBER OF EMPLOYEES AND RELATED COSTS

(Unit : Baht) CONSOLIDATED

2004

Number of employees at end of year (Persons) Employee costs for the year (Thousand Baht)

63 25,785

2003

50 17,416

THE COMPANY ONLY

2004

52 22,676

2003

50 17,416

19. PROVIDENT FUND The Company, its subsidiary and its employees jointly established a provident fund as approved by the Ministry of Finance in accordance with the Provident Fund Act B.E. 2530. Such fund is monthly contributed by both the employees and the Company at the rate of 5 percent of their basic salaries. The fund is managed by BOA Asset Management Company Limited and will be paid to the employees upon termination in accordance with the rules of the fund. During the current year, Baht 825,806 has been contributed to the fund by the Company and its subsidiary (2003: 210,991 Baht). ANNUAL REPORT

2004 ::: 103


104 ::: √“¬ß“πª√–®”ªï

2547

20. ¿“√–ºŸ°æ—π 1) ≥ «—π∑’Ë 31 ∏—𫓧¡ 2547 ∫√‘…∑— œ·≈–∫√‘…∑— ¬àÕ¬¡’¿“√–ºŸ°æ—π‡°’¬Ë «°—∫ —≠≠“‡™à“·≈–∫√‘°“√∑’µË Õâ ß®à“¬™”√–„πÕ𓧵 °—∫∏𓧓√·ÀàßÀπ÷Ëßµ“¡ —≠≠“ª√—∫‚§√ß √â“ßÀπ’ȇªìπ®”π«π‡ß‘π∑—Èß ‘Èπª√–¡“≥ 27.7 ≈â“π∫“∑ (2546 : 28.8 ≈â“π∫“∑) ¥—ßµàÕ ‰ªπ’È √–¬–‡«≈“ (ªï) ≈â“π∫“∑ 1 14.8 2 -4 12.9 2) ≥ «—π∑’Ë 31 ∏—𫓧¡ 2547 ∫√‘…—∑œ·≈–∫√‘…—∑¬àÕ¬¡’¿“√–ºŸ°æ—π‡°’Ë¬«°—∫ —≠≠“®â“ß ”√«® ÕÕ°·∫∫ ·≈–°àÕ √â“ß ‚§√ß°“√¢Õß∫√‘…—∑œ·≈–∫√‘…—∑¬àÕ¬∑’˵âÕß®à“¬™”√–„πÕ𓧵‡ªìπ®”π«π‡ß‘π∑���Èß ‘Èπª√–¡“≥ 478 ≈â“π∫“∑ (2546: 121 ≈â“π∫“∑) 3) ≥ «—π∑’Ë 31 ∏—𫓧¡ 2547 ∫√‘…—∑œ·≈–∫√‘…—∑¬àÕ¬¡’¿“√–ºŸ°æ—π‡°’Ë¬«°—∫ —≠≠“‡™à“·≈–∫√‘°“√Õ◊ËπÊ∑’ˇ°’ˬ«‡π◊ËÕß°—∫°“√ ´àÕ¡∫”√ÿß·≈–¥Ÿ·≈√—°…“Õ“§“√∑’˵âÕß®à“¬™”√–„πÕ𓧵‡ªìπ®”π«π‡ß‘π 6.9 ≈â“π∫“∑ 4) ≥ «—π∑’Ë 31 ∏—𫓧¡ 2547 ∫√‘…—∑œ¡’¿“√–ºŸ°æ—π‡°’Ë¬«°—∫ —≠≠“´◊ÈÕ∑’Ë¥‘π∑’˵âÕß®à“¬™”√–„πÕ𓧵‡ªìπ®”π«π‡ß‘π 80 ≈â“π∫“∑ 21. Àπ—ß ◊էȔª√–°—π∏𓧓√ ≥ «—π∑’Ë 31 ∏—𫓧¡ 2547 ¡’Àπ—ß ◊էȔª√–°—π∑’ËÕÕ°‚¥¬∏𓧓√„ππ“¡∫√‘…—∑œ ·≈–∫√‘…—∑¬àÕ¬‡À≈◊ÕÕ¬Ÿà‡ªìπ®”π«π 23.6 ≈â“π∫“∑ (2546: 23 ≈â“π∫“∑) ´÷ßË ‡°’¬Ë «‡π◊ÕË ß°—∫¿“√–ºŸ°æ—π∑“ߪؑ∫µ— ∫‘ “ߪ√–°“√µ“¡ª°µ‘∏√ÿ °‘®¢Õß∫√‘…∑— œ ·≈–∫√‘…∑— ¬àÕ¬ 22. °“√‡ πÕ¢âÕ¡Ÿ≈∑“ß°“√‡ß‘𮔷𰵓¡ à«πß“π ∫√‘…—∑œ·≈–∫√‘…—∑¬àÕ¬‰¥â¥”‡π‘π°‘®°“√À≈—° §◊Õ ∏ÿ√°‘®„À⇙à“Õ“§“√™ÿ¥·≈–∏ÿ√°‘®æ—≤π“Õ —ßÀ“√‘¡∑√—æ¬å ´÷Ëߥ”‡π‘π∏ÿ√°‘® „π à«πß“π∑“ß¿Ÿ¡‘»“ µ√凥’¬«§◊Õ„πª√–‡∑»‰∑¬ ¢âÕ¡Ÿ≈∑“ß°“√‡ß‘𮔷𰵓¡ à«πß“π∑“ß∏ÿ√°‘®¢Õß∫√‘…—∑œ·≈–∫√‘…—∑¬àÕ¬ ”À√—∫ªï ‘Èπ ÿ¥«—π∑’Ë 31 ∏—𫓧¡ 2547 ·≈– 2546  ”À√—∫ß∫°”‰√¢“¥∑ÿπ¡’¥—ßπ’È :(Àπ૬ : ≈â“π∫“∑)  ”À√—∫ªï ‘Èπ ÿ¥«—π∑’Ë 31 ∏—𫓧¡ „À⇙à“Õ“§“√™ÿ¥

√“¬‰¥â®“°°“√¢“¬·≈–°“√∫√‘°“√ °”‰√®“°°“√¥”‡π‘πß“π √“¬‰¥âÕ◊Ëπ §à“„™â®à“¬„π°“√¢“¬·≈–∫√‘À“√·≈–¥Õ°‡∫’Ȭ®à“¬  à«π·∫àß°”‰√(¢“¥∑ÿπ)®“°‡ß‘π≈ß∑ÿπ„π∫√‘…—∑¬àÕ¬·≈–∫√‘…—∑√à«¡ ¿“…’‡ß‘π‰¥â𑵑∫ÿ§§≈  à«π¢ÕߺŸâ∂◊ÕÀÿâπ à«ππâÕ¬„π(°”‰√)¢“¥∑ÿπ ÿ∑∏‘¢Õß∫√‘…—∑¬àÕ¬ °”‰√ ÿ∑∏‘

2547

2546

87 28

845 104

æ—≤π“ Õ —ßÀ“√‘¡∑√—æ¬å 2547 2546 424 127

46 19

√«¡ 2547

2546

511 155 24 (144) 20 (8) (6) 41

891 123 50 (86) (16) (2) 1 70


20. COMMITMENTS 1) As at 31 December 2004, the Company and its subsidiaries had outstanding lease and service commitments totaling approximately Baht 27.7 million as follows payable to a bank in accordance with the debt restructuring agreement (2003 : Baht 28.8 million). Period (Year) Million Baht 1 14.8 2-4 12.9 2) As at 31 December 2004, the Company and its subsidiaries had outstanding commitments totaling approximately Baht 478 million in respect of survey, design and construction agreements in relation Company and its subsidiaries没s projects(2003: 121 million). 3) As at 31 December 2004, the Company and its subsidiaries had outstanding commitments amounting to Baht 6.9 million in respect of agreement for rental and other services related the repair and maintenance the condominium units. 4) As at 31 December 2004, the Company had outstanding commitments amounting to Baht 80 million in respect of agreement for purchase of land. 21. BANK GUARANTEES As at 31 December 2004, there were outstanding bank guarantees of Baht 23.6 million (2003 : Baht 23 million) issued by the bank on behalf of the Company and its subsidiaries as required in the normal course of business of the Company and its subsidiaries. 22. FINANCIAL INFORMATION BY SEGMENT The Company and its subsidiaries are engaged in lease of office condominium and real estate development business. The Company and its subsidiaries are carried on in the single geographic area in Thailand. Financial information from the earnings statements regarding business segments of the Company and its subsidiaries for the years ended 31 December 2004 and 2003 are as follows :(Unit : Million Baht) (Unit : Baht) For the year ended 31 December Lease of office condominium

2004 Revenue from sales and services Earnings from operations Other income Selling, administrative and interest expenses Share of earnings (loss) from investment in subsidiaries and associate company Corporate income tax Minority interest in net (earnings) loss of subsidiaries Net earnings

87 28

Real estate development

Total

2003

2004

2003

2004

2003

845 104

424 127

46 19

511 155 24 (144)

891 123 50 (86)

20 (8) (6) 41

(16) (2) 1 70

ANNUAL REPORT

2004 ::: 105


106 ::: √“¬ß“πª√–®”ªï

2547

¢âÕ¡Ÿ≈∑“ß°“√‡ß‘𮔷𰵓¡ à«πß“π∑“ß∏ÿ√°‘®¢Õß∫√‘…—∑œ·≈–∫√‘…—∑¬àÕ¬ ”À√—∫ß∫¥ÿ≈ ≥ «—π∑’Ë 31 ∏—𫓧¡ 2547 ·≈– 2546 ¡’¥—ßπ’È :(Àπ૬ : ≈â“π∫“∑)  ”À√—∫ªï ‘Èπ ÿ¥«—π∑’Ë 31 ∏—𫓧¡ „À⇙à“Õ“§“√™ÿ¥ 2547

2546

62

46

‚§√ß°“√√–À«à“ß°“√æ—≤π“ ∑’Ë¥‘π Õ“§“√·≈–Õÿª°√≥å -  ÿ∑∏‘  ‘π∑√—æ¬åÕ◊Ëπ √«¡ ‘π∑√—æ¬å

æ—≤π“ Õ —ßÀ“√‘¡∑√—æ¬å 2547 2546 855 -

693 3

√«¡ 2547

2546

855 62 729 1,646

693 49 673 1,415

23. ‡§√◊ËÕß¡◊Õ∑“ß°“√‡ß‘π π‚¬∫“¬°“√∫√‘À“√§«“¡‡ ’ˬß∑“ß°“√‡ß‘π ∫√‘…∑— œ·≈–∫√‘…∑— ¬àÕ¬¡’§«“¡‡ ’¬Ë ß®“°§«“¡º—πº«π¢ÕßÕ—µ√“¥Õ°‡∫’¬È ·≈–§«“¡‡ ’¬Ë ß®“°°“√∑’§Ë  Ÿà ≠— ≠“‰¡àªØ‘∫µ— µ‘ “¡ —≠≠“ ∫√‘…—∑œ·≈–∫√‘…—∑¬àÕ¬‰¡à¡’π‚¬∫“¬ª√–°Õ∫∏ÿ√°√√¡µ√“ “√Õπÿæ—π∏å∑“ß°“√‡ß‘π‡æ◊ËÕ°“√‡°Áß°”‰√À√◊Õ‡æ◊ËÕ°“√§â“ §«“¡‡ ’ˬ߮“°Õ—µ√“¥Õ°‡∫’Ȭ §«“¡‡ ’ˬ߇°’ˬ«°—∫Õ—µ√“¥Õ°‡∫’Ȭπ’ȇ°‘¥¢÷Èπ®“°§«“¡º—πº«π¢ÕßÕ—µ√“¥Õ°‡∫’Ȭ„πµ≈“¥„πÕ𓧵 ´÷Ëß®– àߺ≈°√–∑∫µàÕ º≈°“√¥”‡π‘πß“π·≈–°√–· ‡ß‘π ¥¢Õß∫√‘…∑— œ·≈–∫√‘…∑— ¬àÕ¬ ∫√‘…∑— œ·≈–∫√‘…∑— ¬àÕ¬¡’§«“¡‡ ’¬Ë ß®“°Õ—µ√“¥Õ°‡∫’¬È ‡π◊ÕË ß®“°¡’‡ß‘π Ω“°°—∫ ∂“∫—π°“√‡ß‘π·≈–‡ß‘π°Ÿ¬â ¡◊ Õ¬à“߉√°Áµ“¡∫√‘…∑— œ·≈–∫√‘…∑— ¬àÕ¬¡‘‰¥â„™âµ√“ “√Õπÿæπ— ∏å∑“ß°“√‡ß‘π‡æ◊ÕË ªÑÕß°—𧫓¡‡ ’¬Ë ߥ—ß°≈à“« §«“¡‡ ’ˬ߮“°Õ—µ√“·≈°‡ª≈’ˬπ ∫√‘…∑— œ·≈–∫√‘…∑— ¬àÕ¬‰¡à¡§’ «“¡‡ ’¬Ë ß®“°Õ—µ√“·≈°‡ª≈’¬Ë π‡ß‘πµ√“µà“ߪ√–‡∑»‡π◊ÕË ß®“°∫√‘…∑— œ·≈–∫√‘…∑— ¬àÕ¬¡’∏√ÿ °√√¡ ∑“ß°“√‡ß‘π à«π„À≠à‡ªìπ‡ß‘π∫“∑ §«“¡‡ ’ˬߥâ“π°“√„Àâ ‘π‡™◊ËÕ ∫√‘…∑— œ·≈–∫√‘…∑— ¬àÕ¬¡’§«“¡‡ ’¬Ë ߥâ“π ‘π‡™◊ÕË ∑’‡Ë °’¬Ë «‡π◊ÕË ß°—∫≈Ÿ°Àπ’°È “√§â“ Õ¬à“߉√°Áµ“¡ ‡π◊ÕË ß®“°∫√‘…∑— œ·≈–∫√‘…∑— ¬àÕ¬¡’ ≈Ÿ°§â“‡ªìπ®”π«π¡“°√“¬·≈–À≈“°À≈“¬ ¥—ßπ—πÈ ∫√‘…∑— œ·≈–∫√‘…∑— ¬àÕ¬®÷߉¡à§“¥«à“®–‰¥â√∫— §«“¡‡ ’¬À“¬®“°°“√‡√’¬°™”√–Àπ’®È “° ≈Ÿ°Àπ’‡È À≈à“π—πÈ ·≈–‡™◊ÕË «à“§«“¡‡ ’¬Ë ß Ÿß ÿ¥®–‡∑à“°—∫¡Ÿ≈§à“µ“¡∫—≠™’¢Õß≈Ÿ°Àπ’°È “√§â“À—°¥â«¬§à“‡º◊ÕË Àπ’ È ß —¬®– Ÿ≠µ“¡∑’·Ë  ¥ß„πß∫¥ÿ≈ ¡Ÿ≈§à“¬ÿµ‘∏√√¡ ‡π◊ËÕß®“° ‘π∑√—æ¬å∑“ß°“√‡ß‘π à«π„À≠à®—¥Õ¬Ÿà„πª√–‡¿∑√–¬– —Èπ·≈–‡ß‘π°Ÿâ¬◊¡¡’Õ—µ√“¥Õ°‡∫’Ȭ „°≈⇧’¬ß°—∫Õ—µ√“¥Õ° ‡∫’Ȭ„πµ≈“¥ ΩÉ“¬∫√‘À“√¢Õß∫√‘…—∑œ·≈–∫√‘…—∑¬àÕ¬‡™◊ËÕ«à“¡Ÿ≈§à“¬ÿµ‘∏√√¡¢Õß ‘π∑√—æ¬å∑“ß°“√‡ß‘π·≈–Àπ’È ‘π∑“ß°“√‡ß‘π¥—ß°≈à“« ®–‰¡à·µ°µà“ßÕ¬à“߇ªìπ “√– ”§—≠°—∫¡Ÿ≈§à“µ“¡∫—≠™’ 24. °“√· ¥ß√“¬°“√„πß∫°“√‡ß‘π °“√· ¥ß√“¬°“√„πß∫°“√‡ß‘ππ’ȉ¥â®—¥∑”¢÷Èπ‡æ◊ËÕ„À⇪ìπ‰ªµ“¡¢âÕ°”Àπ¥„πª√–°“»°√¡æ—≤π“∏ÿ√°‘®°“√§â“≈ß«—π∑’Ë 14 °—𬓬π 2544 ÕÕ°µ“¡§«“¡„πæ√–√“™∫—≠≠—µ‘°“√∫—≠™’ æ.». 2543 25. °“√Õπÿ¡—µ‘ß∫°“√‡ß‘π ß∫°“√‡ß‘ππ’ȉ¥â√—∫Õπÿ¡—µ‘®“°°√√¡°“√¢Õß∫√‘…—∑œ·≈â«


Financial information from the balance sheet regarding business segments of the Company and its subsidiaries as at 31 December 2004 and 2003 are as follows :(Unit : Million Baht) For the year ended 31 December Lease of office Real estate Total condominium development

2004 Project under development Property, plant and equipment - net Other assets Total assets

62

2003 46

2004 855 -

2003 693 3

2004

2003

855 62 729 1,646

693 49 673 1,415

23. FINANCIAL INSTRUMENTS Financial risk management and policies The Company and its subsidiaries are exposed to risks from changes in market interest rates and from nonperformance of contractual obligations by counterparties. They do not hold or issue derivative instruments for speculative or trading purposes. Interest rate risk The interest rate risk is the risk that future movements in market interest rates will affect the results of the Company没s and its subsidiaries operations and its cash flows. The Company and its subsidiaries没s exposure to interest rate risk relates primarily to its deposits with financial institutions and loans. However, the Company and its subsidiaries do not use derivative financial instruments to hedge such risk. Foreign currency risk The Company and its subsidiaries has no exposure to foreign currency risk since the majority of financial transactions are in Baht currency. Credit risk The Company and its subsidiaries are exposed to credit risk primarily with respect to trade accounts receivable. However, due to the large number and diversity of the entities comprising the Company and its subsidiaries customer base, the Company and its subsidiaries do not anticipate material losses from its debt collection and believes that the maximum exposure to credit risk is limited to the carrying amount of receivables less allowance for doubtful debts as stated in the balance sheets. Fair value Since the majority of the financial assets are short-term and that the loans carry interest at rates close to current market rates, the management believes that the fair value of the Company and its subsidiaries没 financial assets and liabilities do not materially differ from their carrying value. 24. PRESENTATION The presentation of the financial statements has been made in compliance with the stipulations of the Notification of the Department of Business Development dated 14 September 2001, issued under the Accounting Act B.E. 2543. 25. APPROVAL OF FINANCIAL STATEMENTS These financial statements have been approved by the director of the Company. ANNUAL REPORT

2004 ::: 107


108 ::: √“¬ß“πª√–®”ªï

2547

¢âÕ¡Ÿ≈∑—Ë«‰ª / General information ∫√‘…—∑ ™“≠Õ‘  √– ¥’‡«≈ÁÕª‡¡π∑å ®”°—¥ (¡À“™π) ∑ÿπ®¥∑–‡∫’¬π Àÿπâ ∑’®Ë ”Àπà“¬ ¡Ÿ≈§à“Àÿâπ∑’˵√“‰«âÀÿâπ≈– ≈—°…≥–ª√–°Õ∫∏ÿ√°‘® ‡≈¢∑–‡∫’¬π ∑’˵—Èß ”π—°ß“π„À≠à

: : : : : :

π“¬∑–‡∫’¬πÀ≈—°∑√—æ¬å

:

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:

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600 ≈â“π∫“∑ Àÿâπ “¡—≠ 120 ≈â“πÀÿâπ 5 ∫“∑ æ—≤π“Õ —ßÀ“√‘¡∑√—æ¬å‡æ◊ËÕ¢“¬ ∫¡®.∑’Ë 40854500683 ‡≈¢∑’Ë 2922/181-187 ∂ππ‡æ™√∫ÿ√’µ—¥„À¡à ·¢«ß∫“ß°–ªî ‡¢µÀ⫬¢«“ß °√ÿ߇∑æœ 10320 ‚∑√»—æ∑å : 0-2308-2020 ‚∑√ “√ : 0-2308-2990 Website : www.charnissara.co.th , www.sripanwa.com E-mail : songkran@charnissara.co.th ∫√‘…—∑ »Ÿπ¬å√—∫Ω“°À≈—°∑√—æ¬å (ª√–‡∑»‰∑¬) ®”°—¥ ‡≈¢∑’Ë 62 Õ“§“√µ≈“¥À≈—°∑√—æ¬å·Ààߪ√–‡∑»‰∑¬ ∂.√—™¥“¿‘‡…° ·¢«ß§≈Õ߇µ¬ ‡¢µ§≈Õ߇µ¬ °√ÿ߇∑æœ 10110 ‚∑√»—æ∑å : 0-2359-1200-1 ‚∑√ “√ : 0-2359-1259 ∫√‘…—∑  ”π—°ß“π ‡Õ‘π å∑ ·Õπ¥å ¬—ß ®”°—¥ ‚¥¬ π“ß “«∑‘æ«—≈¬å π“π“πÿ«—≤πå À√◊Õ π“¬√ÿ∑∏ ‡™“«π–°«’ ‡≈¢∑’Ë 193/136-137 Õ“§“√‡≈§√—™¥“ÕÕøøա‡æ≈Á°´å ∂.√—™¥“¿‘‡…°µ—¥„À¡à °√ÿ߇∑æœ 10110 ‚∑√»—æ∑å : 0-2264-0777, 0-2661-9190 ‚∑√ “√ : 0-2264-0789-90 ∫√‘…—∑ ∑√’π’µ’È ·Õ䥉«´Õ√’Ë 2001 ®”°—¥ ‡≈¢∑’Ë 179/108 ™—Èπ 26 Õ“§“√∫“ß°Õ°´‘µ’È∑“«‡«Õ√å ∂. “∏√„µâ ·¢«ß∑ÿàß¡À“‡¡¶ ‡¢µ “∑√ °√ÿ߇∑æœ 10120 ‚∑√»—æ∑å : 0-2670-9100 ‚∑√ “√ : 0-2286-7222

Charn Issara Development Public Company Limited Registered Capital Share Type Par Value Business Registration Head Office

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Share Registrar

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Financial Advisor

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600 Million Baht Common Stock 120 million shares 5 Baht Real Estate Development No.40854500683 2922/181-187 New Petchburi Road, Bangkapi, Huay Kwang, Bangkok 10320 Tel : 0-2308-2020 Fax : 0-2308-2990 Web site : www.charnissara.co.th, www.sripanwa.com E-mail : songkran@charnissara.co.th Thailand Securities Depository Company Limited 62 The Stock Exchange of Thailand Building, Rachadapisek Road, Klontoey, Bangkok 10110 Tel : 0-2359-1200-1 Fax : 0-2359-1259 Ernst & Young Office Limited By Ms.Thipawan Nananuwat or Mr.Ruth Chaowanagawi 193/136-137 Lake Rajada Office Complex, New Rajadapisek Road, Bangkok 10110 Tel : 0-2264-0777, 0-2661-9190 Fax : 0-2264-0789-90 Trinity Advisory 2001 Company Limited 179/180 26th Floor, Bangkok City Tower , South Sathon Road, Sathon, Bangkok 10120 Tel : 0-2670-9100 Fax : 0-2286-7222


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