Issuu on Google+

  “ √ ∫— ≠

Contents

01 02 06 08 12 13 16 22 24 26 28 30 32 42 44 46 48 60 78 80

®ÿ¥‡¥àπ„π√Õ∫ªï 2548 2005 Highlights √“¬ß“π®“°ª√–∏“π°√√¡°“√∫√‘À“√ Report of the Executive Chairman √“¬ß“π®“°§≥–°√√¡°“√µ√«® Õ∫ Report of the Audit Committee √“¬≈–‡Õ’¬¥°√√¡°“√·≈–ºŸâ∫√‘À“√∫√‘…—∑ Board of Directors and Management ¢âÕ¡Ÿ≈‡°’ˬ«°—∫∫√‘…—∑ Company Information  √ÿª¢âÕ¡Ÿ≈∑“ß°“√‡ß‘π Financial Summary ¿“«–‡»√…∞°‘®¢Õߪ√–‡∑»·≈–∏ÿ√°‘®Õ —ßÀ“√‘¡∑√—æ¬å Economic environment and the property industry °“√«‘®—¬·≈–æ—≤π“ Research and Development ªí®®—¬§«“¡‡ ’Ë¬ß Risk Factors ≈—°…≥–°“√ª√–°Õ∫∏ÿ√°‘® Business Operations ‚§√ß°“√„πÕ𓧵 Future Plans ‚§√ß √â“ß°“√®—¥°“√ Management Structure ·ºπ¿Ÿ¡‘ ‚§√ß √â“ß°“√®—¥°“√ Organization Chart ‚§√ß √â“ß∑ÿπ Capital Structure Õ∏‘∫“¬·≈–«‘‡§√“–Àå∞“π–∑“ß°“√‡ß‘π·≈–º≈°“√¥”‡π‘π°“√ Analysis of financial status and operating performance √“¬ß“π¢ÕߺŸâ Õ∫∫—≠™’√—∫Õπÿ≠“µ Audit Report of Certified Public Accountant ß∫°“√‡ß‘π Financial Statements À¡“¬‡Àµÿª√–°Õ∫ß∫°“√‡ß‘π Notes to Financial Statements ∫ÿ§§≈Õâ“ßÕ‘ßÕ◊ËπÊ Other References °“√· ¥ß√“¬°“√∑’Ë°”À𥵓¡·∫∫ 56-2 Checklist


®ÿ ¥ ‡ ¥à π „ π √ Õ ∫ ªï 2 5 4 8

2005 Highlights 2548 2005

2547 2004

2546 2003

21

19

17

25.20

24.86

24.94

16.04

14.21

23.91

22.84

19.90

30.59

2,764.79

2,345.82

3,145.26

692.63

580.48

784.40

Inventories

3,913.18

3,608.50

2,312.14

Total Asset

4,554.87

4,082.21

3,280.10

Total Shareholders’ Equity

3,192.35

2,871.41

2,564.15

0.84

0.70

0.95

3.87

3.48

3.11

825.00

825.00

825.00

º≈°“√¥”‡π‘πß“π

Operating Result

®”π«π‚§√ß°“√∑’Ë¥”‡π‘πß“π

Number of Active Project

§«“¡ “¡“√∂„π°“√∑”°”‰√ Earning Ability

Õ—µ√“°”‰√µàÕ¬Õ¥¢“¬

Return on Sales (%)

Õ—µ√“°”‰√µàՇߑπ≈ß∑ÿπ

Return on Investment (%)

Õ—µ√“°”‰√µàÕ à«πºŸâ∂◊ÕÀÿâπ Return on Equity (%)

®ÿ¥‡¥àπ®“°ß∫°“√‡ß‘π (≈â“π∫“∑)

Highlight of The Financial Statement (Million baht)

√“¬‰¥â√«¡

Total Revenue

°”‰√ ÿ∑∏‘

Net Profit

 ‘π§â“§ß‡À≈◊Õ  ‘π∑√—æ¬å√«¡  à«π¢ÕߺŸâ∂◊ÕÀÿâπ ¢âÕ¡Ÿ≈µàÕÀÿâπ

Per Share Data

°”‰√ ÿ∑∏‘µàÕÀÿâπ

Earning per share

¡Ÿ≈§à“µ“¡∫—≠™’ Book Value

®”π«πÀÿâπ∑’ˇ√’¬°™”√–·≈â« (≈â“πÀÿâπ)

Number of Outstanding Shares (Million Shares)

01 Annual Report 2005 Lalin Property Public Company Limited


√ “ ¬ ß “ π ® “ ° ª √ – ∏ “ π ° √ √ ¡ ° “ √ ∫ √‘ À “ √

ªï 2548 µâÕß∂◊Õ«à“‡ªìπªï·Ààߪí≠À“ ‡æ√“–µ—Èß·µàµâπªï°Á ª√– ∫¿—¬ªí≠À“ ÷π“¡‘®“°‡¥◊Õπ∏—𫓧¡ 2547 ªí≠À“‰¢âÀ«—¥π° §«“¡‰¡à ß∫ 3 ®—ßÀ«—¥™“¬·¥π¿“¬„µâ æÕ¿“«–¥’¢÷Èπ°Áª√– ∫ ªí≠À“πÈ”¡—π¢÷Èπ√“§“·≈–√—∞∫“≈ª≈àÕ¬„Àâ√“§“πÈ”¡—π≈Õ¬µ—« µ≈Õ¥®π¥Õ°‡∫’Ȭª√—∫µ—« Ÿß¢÷Èπ ∫¡®. ≈≈‘≈ æ√ÁÕæ‡æÕ√åµ’È ‰¥âª√—∫°≈¬ÿ∑∏åµ—Èß√—∫°—∫ªí≠À“ ¥—ß°≈à“«≈à«ßÀπâ“ ‚¥¬‡©æ“–Õ¬à“߬‘Ëß√“§“πÈ”¡—π ´÷Ëߧ“¥«à“√—∞∫“≈ ®–≈Õ¬µ—«„π‰µ√¡“  1 ·≈–¥Õ°‡∫’Ȭ®– Ÿß¢÷Èπ ∑—Èß 2 ªí®®—¬ ®– ∑”„Àâµâπ∑ÿπ°“√°àÕ √â“߇æ‘Ë¡¢÷Èπ·≈–ºŸâ∫√‘‚¿§µ—¥ ‘π„®´◊ÈÕ∫â“π™â“ ≈ß ∫√‘…—∑œ ‰¥â‡µ√’¬¡ √â“ß µÁÕ§ ‘π§â“ ·≈–≈ß∑ÿπ„π°“√æ—≤π“  “∏“√≥Ÿª‚¿§µà“ßÊ ‰«â≈à«ßÀπâ“ ‡æ√“–µâπ∑ÿπ¥Õ°‡∫’Ȭ®à“¬µË”°«à“ √“§“ Ÿß¢÷Èπ¢Õß√“§“«— ¥ÿ°àÕ √â“ß¡“° µ≈Õ¥®πª√—∫°≈¬ÿ∑∏å°“√ ∫√‘À“√„Àâ∑ÿ° SBUs ¢Õß∫√‘…—∑œ ‡µ√’¬¡æ√âÕ¡°—∫°“√§«∫§ÿ¡ µâπ∑ÿπ·≈–ß∫ª√–¡“≥µà“ßÊ ´÷Ëß°Á‰¥âº≈¥’µ“¡∑’Ë∑’¡ß“π∫√‘À“√‰¥â ‡µ√’¬¡‰«â ‚¥¬∫√‘…—∑œ ¡’¬Õ¥¢“¬ Ÿß¢÷Èπ 17% ·≈–º≈°”‰√ Ÿß°«à“ ¬Õ¥¢“¬Õ’° ∑—ÈßÊ ∑’ËÕÿµ “À°√√¡‡µ‘∫‚µ‡æ’¬ß 8% ´÷Ë߇ªìπº≈ß“π ∑’ˇ°‘¥¢÷Èπ®“°§«“¡Õÿµ “À–«‘√‘¬–¢Õß∑’¡ß“π „πªï 2549 ∫√‘…—∑œ §“¥«à“®–‡ªìπªï∑’Ë∑â“∑“¬Õ’°ªïÀπ÷Ëß ‡π◊ËÕß®“°ªí®®—¬‡√◊ËÕß√“§“πÈ”¡—π·≈–¥Õ°‡∫’Ȭ¬—ߧßÕ¬ŸàµàÕ‡π◊ËÕß Õ¬à“߉√°Á¥’ §“¥«à“ªí≠À“¥â“π Supply ®–≈¥≈ß ‡æ√“–§«“¡‡¢â¡ ß«¥¢Õß√–∫∫°“√‡ß‘π¢Õß∏𓧓√æ“≥‘™¬å ®–∑”„Àâ°“√·¢àߢ—π ª√—∫‡¢â“ Ÿà¥ÿ≈¬¿“æ¡“°¢÷Èπ ‡æ√“–∫√‘…—∑œ „πµ≈“¥‰¥â√—∫§«“¡ ‡™◊ËÕ∂◊Õ®“°ºŸâ∫√‘‚¿§¡“°°«à“·≈–»—°¬¿“æ„π°“√·¢àߢ—π Ÿß°«à“ ∑’¡ß“π¢Õß ∫¡®. ≈≈‘≈ æ√ÁÕæ‡æÕ√åµ’È ‰¡à‰¥âπ‘ËßπÕπ„®‰¥â «‘‡§√“–Àå·≈–ª√—∫µ—«‡æ◊ËÕ‡æ‘Ë¡ ç»—°¬¿“æ„π°“√·¢àߢ—πé µ≈Õ¥ ‡«≈“·≈–§“¥«à“∫√‘…—∑œ ®–ºà“πªí≠À“µà“ßÊ ‰ª‰¥â À“°ªï 2549 ‡¡°°–‚ª√‡®°µà“ßÊ ¥”‡π‘π‰ª‰¥âÕ¬à“߇ªìπ√Ÿª∏√√¡ √“¬‰¥â ®“°°“√ àßÕÕ° ·≈–°“√∑àÕ߇∑’ˬ«‡æ‘Ë¡¢÷Èπ‰¥â¥’ °Á®–∑”„Àâ

02 √“¬ß“πª√–®”ªï 2548 ∫√‘ …— ∑ ≈≈‘ ≈ æ√Á Õ æ‡æÕ√å µ’È ®”°— ¥ (¡À“™π)


Report of The Executive Chairman 2005 may well be dubbed the year of obstacles, starting off with the tsunami disaster carried over from December 2004, the bird flu epidemic and the separatist unrest in 3 Southern provinces. Just as these problems began to ease, the next crisis was rising cost of oil and the Government’s subsequent float of local oil prices. The situation was further compounded by interest rate hikes. Lalin Property Public Co., Ltd. adjusted its strategies to overcome these problems in advance, particularly with regards to oil prices, as the Government was expected to float oil prices in the 1st. quarter, as well as the expectation of higher interest rates. These 2 factors caused construction costs to climb, leading consumers to slow their house purchase decisions. The Company therefore built up stock and invested in various infrastructure beforehand, since interest payments were considerably lower than the rise in construction materials costs. The Company also adjusted its management strategy to ensure that all its SBUs units were ready to handle cost controls and budgets. The results were encouraging and in line with management’s intentions. Sales increased by 17%, while profitability grew even faster, even though the overall industry experienced growth of only 10%. This was achieved through the hardworking efforts of our team. The Company predicts that 2006 will be another challenging year, due to the ongoing influence of oil prices and interest rates. However, problems associated with supply are expected to relax, due to stricter monetary system controls exercised by commercial

03 Annual Report 2005 Lalin Property Public Company Limited


√ “ ¬ ß “ π ® “ ° ª √ – ∏ “ π ° √ √ ¡ ° “ √ ∫ √‘ À “ √

‡»√…∞°‘®‡µ‘∫‚µ·∫∫·¢Áß·°√àßµàÕ‰ª ´÷Ëß®– àߺ≈µàÕ°”≈—ß´◊ÈÕ ¿“§ª√–™“™π·≈–°“√ª√–°Õ∫∏ÿ√°‘®¢Õß∫√‘…—∑œ µàÕ‰ª ‡æ√“– ∫√‘…—∑œ ‡πâπ®—∫µ≈“¥∑’ˇªìπ real demand ·≈–®–¢¬“¬µ—«  Õ¥§≈âÕß°—∫¿“«–‡»√…∞°‘® „π∞“π–À—«Àπâ“∑’¡ß“π ≈≈‘≈ æ√ÁÕæ‡æÕ√åµ’È „§√à¢Õ ¢Õ∫æ√–§ÿ≥ æπ—°ß“π∑ÿ°∑à“π∑’ˉ¥â∑ÿࡇ∑°“√∑”ß“π ≈Ÿ°§â“ºŸâ¡’ Õÿª°“√§ÿ≥∑ÿ°∑à“π ºŸâ≈ß∑ÿπ  ∂“∫—π°“√‡ß‘πºŸâ π—∫ πÿπ Suppliers µ≈Õ¥®πºŸâ‡°’ˬ«¢âÕß∑ÿ°∑à“π∑’Ë¡’ à«π„Àâ ∫¡®. ≈≈‘≈ æ√Áæ‡æÕ√åµ’È ¥”‡π‘π‰ª‰¥â¥â«¬¥’ ·≈–À«—߇ªìπÕ¬à“߬‘Ëß«à“®–‰¥â√—∫§«“¡ π—∫ πÿ𠇙àππ’ȵ≈Õ¥‰ª

(𓬉™¬¬—πµå ™“§√°ÿ≈) ª√–∏“π°√√¡°“√∫√‘À“√

04 √“¬ß“πª√–®”ªï 2548 ∫√‘ …— ∑ ≈≈‘ ≈ æ√Á Õ æ‡æÕ√å µ’È ®”°— ¥ (¡À“™π)


Report of The Executive Chairman banks. As a result, competition will strike a more moderate balance, especially since the Company enjoys the advantage of more credibility within the market amongst consumers and has greater potential. The Lalin Property Public Co., Ltd. team are not complacent, but constantly conduct analysis and make adjustments accordingly, to enhance “competitive advantages�. The Company will rise above the problems of 2006, particularly if the so-called mega-projects materialise to support solid economic growth. This in turn will influence consumer purchasing power and the Company’s business operations. The Company focuses on markets with real demand, in order to grow parallel with the economy. In my capacity as the team leader of Lalin Property, I would like to express my sincere gratitude to all our employees for their dedication to their work; our clients, supporters, investors, financial institutions, suppliers and related parties. Their involvement has allowed Lalin Property Public Co., Ltd. to advance to success and we hope to be assured of their continued support.

(Mr. Chaiyan Chakarakul) Chief Executive Officer

05 Annual Report 2005 Lalin Property Public Company Limited


√“¬ß“π®“°§≥–°√√¡°“√µ√«® Õ∫ ‡√’¬π ∑à“πºŸâ∂◊ÕÀÿâπ ∫√‘…—∑ ≈≈‘≈ æ√ÁÕæ‡æÕ√åµ’È ®”°—¥ (¡À“™π)

§≥–°√√¡°“√µ√«® Õ∫‰¥â√—∫°“√·µàßµ—Èß®“°§≥– °√√¡°“√¢Õß∫√‘…—∑œ µ—Èß·µà«—π∑’Ë 10  ‘ßÀ“§¡ 2547 ´÷Ëß ª√–°Õ∫¥â«¬°√√¡°“√∑’Ë¡’§«“¡‡ªìπÕ‘ √– 3 ∑à“π ´÷Ëß¡’§ÿ≥ ¡∫—µ‘ µ“¡¢âÕ°”Àπ¥¢Õßµ≈“¥À≈—°∑√—æ¬å·Ààߪ√–‡∑»‰∑¬ ‚¥¬‰¡à¡’  à«π√à«¡„π°“√∫√‘À“√ß“π·≈–‰¡à‰¥â‡ªìπ≈Ÿ°®â“ߢÕß∫√‘…—∑œ °“√ªØ‘∫—µ‘Àπâ“∑’Ë¢Õߧ≥–°√√¡°“√µ√«® Õ∫¡’ «—µ∂ÿª√– ß§å‡æ◊ËÕ„Àâ∫√‘…—∑œ ¡’°“√°”°—∫¥Ÿ·≈°‘®°“√∑’Ë¥’ ‡ªìπ°“√ ‡ √‘¡ √â“ߪ√– ‘∑∏‘¿“æ„π°“√¥”‡π‘π°“√·≈–‡æ‘Ë¡¡Ÿ≈§à“„Àâ°—∫ ∫√‘…—∑œ ´÷Ëßªí®®—¬ ”§—≠∑’Ë π—∫ πÿπ„Àâ∫√√≈ÿ«—µ∂ÿª√– ß§å¥—ß°≈à“« ‰¥â °Á§◊Õ °“√∑’˧≥–°√√¡°“√µ√«® Õ∫¢Õ¢âÕ¡Ÿ≈‰¥â‚¥¬‰¡à¡’¢âÕ ®”°—¥·≈–ª√÷°…“À“√◊Õ‡ªìπ°“√‡©æ“–°—∫ΩÉ“¬∫√‘À“√ ·ºπ° µ√«® Õ∫¿“¬„π·≈–ºŸâ Õ∫∫—≠™’‰¥âÕ¬à“߇µÁ¡∑’Ë √«¡∑—Èß¡’Õ”π“®„π °“√«à“®â“ߺŸâ‡™’ˬ«™“≠‡©æ“–¥â“π¡“ª√÷°…“À“√◊Õ·≈–„À⧫“¡‡ÀÁπ ‰¥âµ“¡∑’Ëæ‘®“√≥“‡ÀÁπ«à“®”‡ªìπ „πªï 2548 §≥–°√√¡°“√µ√«® Õ∫‰¥â¡’°“√ª√–™ÿ¡ ∑—Èß ‘Èπ 5 §√—Èß ‡æ◊Ëժؑ∫—µ‘Àπâ“∑’Ë°”°—∫¥Ÿ·≈°‘®°“√µ“¡¢Õ∫‡¢µ §«“¡√—∫º‘¥™Õ∫∑’ˉ¥â√–∫ÿ‰«â„π¢âÕ∫—ߧ—∫‡°’ˬ«°—∫§≥–°√√¡°“√ µ√«® Õ∫ „Àâ Õ¥§≈âÕß°—∫¢âÕ°”Àπ¥¢Õßµ≈“¥À≈—°∑√—æ¬å·Ààß ª√–‡∑»‰∑¬ ´÷Ëß¡’ “√– ”§—≠ √ÿª‰¥â¥—ßπ’È 1.  Õ∫∑“πß∫°“√‡ß‘π√“¬‰µ√¡“ ·≈–ß∫°“√‡ß‘π ª√–®”ªï 2548 °àÕπ‡ πÕµàÕ§≥–°√√¡°“√∫√‘…—∑œ ‡æ◊ËÕæ‘®“√≥“ ‚¥¬‰¥â Õ∫∂“¡·≈–√—∫øíߧ”™’È·®ß®“°ºŸâ∫√‘À“√·≈–ºŸâ Õ∫∫—≠™’ ®π‡ªìπ∑’ËæÕ„® 2.  Õ∫∑“π·ºπ°“√µ√«® Õ∫¿“¬„πª√–®”ªï ·≈– æ‘®“√≥“º≈°“√µ√«® Õ∫ √«¡∑—Èß π—∫ πÿπ„Àâ¡°’ “√æ—≤𓧫“¡√Ÿâ ∫ÿ§≈“°√µ√«® Õ∫Õ¬à“ßµàÕ‡π◊ËÕß ‡æ◊ËÕ„Àâ°“√µ√«® Õ∫‡ªìπ‰ªµ“¡ ¡“µ√∞“π “°≈ ·≈–¬°√–¥—∫°“√µ√«® Õ∫¿“¬„π„Àâ¡’ ª√– ‘∑∏‘¿“欑Ëߢ÷Èπ

06 √“¬ß“πª√–®”ªï 2548 ∫√‘ …— ∑ ≈≈‘ ≈ æ√Á Õ æ‡æÕ√å µ’È ®”°— ¥ (¡À“™π)

3.  Õ∫∑“πΩÉ“¬∫√‘À“√„Àâ¡’°“√§«∫§ÿ¡¥Ÿ·≈Àπà«¬ß“π ¿“¬„πµà“ßÊ „ÀâªØ‘∫—µ‘µ“¡°ÆÀ¡“¬«à“¥â«¬À≈—°∑√—æ¬å·≈– µ≈“¥À≈—°∑√—æ¬å ¢âÕ°”Àπ¥¢Õßµ≈“¥À≈—°∑√—æ¬å·Ààߪ√–‡∑» ‰∑¬ ·≈–°ÆÀ¡“¬∑’ˇ°’ˬ«¢âÕß°—∫∏ÿ√°‘®¢Õß∫√‘…—∑œ Õ¬à“ß  ¡Ë”‡ ¡Õ 4.  π—∫ πÿπ·≈– à߇ √‘¡„Àâ∫√‘…—∑œ ¡’°√–∫«π°“√°”°—∫ ¥Ÿ·≈°‘®°“√Õ¬à“߇ªìπ√–∫∫ 5. æ‘®“√≥“§—¥‡≈◊Õ°‡ πÕ™◊ËÕºŸâ Õ∫∫—≠™’·≈–§à“µÕ∫·∑π ºŸâ Õ∫∫—≠™’ ‚¥¬„πªï 2549 §≥–°√√¡°“√µ√«® Õ∫ ‰¥âæ‘®“√≥“ §—¥‡≈◊Õ°·≈–‡ πÕµàÕ§≥–°√√¡°“√∫√‘…—∑œ „Àâ·µàßµ—Èß∫√‘…—∑ ‡Õ .‡§.·Õ§‡§“πå·µâπ∑å ‡´Õ√å«‘ ‡´  ®”°—¥ ‡ªìπºŸâ Õ∫∫—≠™’ ¢Õß∫√‘…—∑œ ‡æ◊ËÕ𔇠πÕ¢ÕÕπÿ¡—µ‘µàÕ∑’˪√–™ÿ¡ “¡—≠ºŸâ∂◊ÕÀÿâπ §≥–°√√¡°“√µ√«® Õ∫¡’§«“¡���ÀÁπ«à“ „πªï 2548 ∫√‘…—∑œ ¡’√–∫∫§«∫§ÿ¡¿“¬„π∑’ˇÀ¡“– ¡‡æ’¬ßæÕ °“√®—¥∑” √“¬ß“π∑“ß°“√‡ß‘π¢Õß∫√‘…—∑œ ‡ªìπ‰ªµ“¡¡“µ√∞“π°“√∫—≠™’ ∑’Ë√—∫√Õß∑—Ë«‰ª ·≈–°“√‡ªî¥‡º¬¢âÕ¡Ÿ≈∑’Ë ”§—≠Õ¬à“߇撬ßæÕ √«¡∑—È߇ªìπ‰ªµ“¡°ÆÀ¡“¬·≈–¢âÕ°”Àπ¥∑’ˇ°’ˬ«¢âÕß

𓬠ÿ«√√≥ ·∑π ∂‘µ¬å ª√–∏“π§≥–°√√¡°“√µ√«® Õ∫


Report of The Audit Committee To : Shareholders, Lalin Property Public Company Limited The Audit Committee was established by the

2. Review of the annual internal audit plans and

Board of Directors of the Company on 10 August 2004.

consideration of the audit results, including supporting

The Committee’s members comprise 3 Independent

the development of audit staff knowledge on an ongoing

Directors in possession of the characteristics specified by

basis. This is to ensure that internal audit activities meet

the Stock Exchange of Thailand. The Independent

an international standard, while simultaneously

Directors do not participate in the management of the

enhancing the efficiency of such activities.

business, nor are employees of the Company. The task of the Audit Committee has the objective to ensure good corporate governance, encourage efficient operations and create added value for the Company. An important factor that allows the realisation of this objective is the freedom of the Committee to review information without restrictions. It is also able to consult freely with Executives, the Internal Audit Department and the corporate auditors. Furthermore, the Committee has the authority to employee specialists in various fields to consult and provide recommendations as deemed necessary. In 2005, the Audit Committee convened a total of 5 meetings, in order to oversee the business according to the scope of responsibilities as determined in the Company regulations relating to the Audit Committee. This also complements the regulations of the Stock Exchange of Thailand, which has the following key points.

3. Supervise management to ensure that the various internal units consistently comply with Laws relating to securities and the Stock Exchange, Stock Exchange regulations and other Laws relevant to the Company’s business. 4. Support and encourage the Company to have a system of corporate governance 5. Nomination and proposal of the corporate auditors and audit fees. For the 2006 year, the Audit Committee proposed to the Board of Directors the appointment of S.K. Accountant Services Co., Ltd. as the corporate auditors, for the subsequent authorisation of the Shareholder’s Meeting. The Audit Committee is of the opinion that in 2005, the Company had an appropriate and adequate internal control system; and that the preparation of the financial statements complied with generally accepted accounting standards, disclosed significant information adequately and further accurately complied with relevant Laws and regulations.

1. Review the 2005 quarterly and annual financial statements prior to presentation to the Board of Directors for their consideration, having previously been satisfied with questioning and listening to the clarifications of Executives as well as the corporate auditors.

Mr. Suvarn Thansathit Chairman of the Audit Committee

07 Annual Report 2005 Lalin Property Public Company Limited


√ “ ¬ ≈ – ‡ Õ’ ¬ ¥ ° √ √ ¡ ° “ √ · ≈ – ºŸâ ∫ √‘ À “ √ ∫ √‘ …— ∑ ™◊ËÕ- °ÿ≈/µ”·Àπàß

1) π“¬∑«’»—°¥‘Ï «—™√√—§§“«ß»å ª√–∏“π°√√¡°“√ 2) 𓬉™¬¬—πµå ™“§√°ÿ≈ °√√¡°“√ ·≈–°√√¡°“√ºŸâ®—¥°“√

Õ“¬ÿ (ªï)

§ÿ≥«ÿ≤‘°“√»÷°…“

59 - ª√– ∫°“√≥å¥â“π∏ÿ√°‘® Õ —ßÀ“√‘¡∑√—æ¬å 30 ªï 56 - ∫—≠™’∫—≥±‘µ (‡°’¬√µ‘π‘¬¡¥’) ¡À“«‘∑¬“≈—¬∏√√¡»“ µ√å - M.S. ¡À“«‘∑¬“≈—¬ ∏√√¡»“ µ√å - ºŸâ∫√‘À“√Õ —ßÀ“√‘¡∑√—æ¬å ®ÿÓ≈ß°√≥å¡À“«‘∑¬“≈—¬ √ÿàπ∑’Ë 8 (RE) - Senior Executive Program 4 Sasin GIBA Chulalongkorn University and The Wharton School University of Pennsyvania and çKelloggé Graduate School of Management North-Western University - À≈—° Ÿµ√°“√ªÑÕß°—π √“™Õ“≥“®—°√¿“§√—∞√à«¡ °—∫‡Õ°™π (ª√Õ.) √ÿàπ∑’Ë 14 «‘∑¬“≈—¬ªÑÕß°—π√“™Õ“≥“®—°√ 3) 𓬠ÿ«√√≥ ·∑π ∂‘µ¬å 61 - ª√‘≠≠“‚∑ (M.SC) °√√¡°“√ University of SANTO °√√¡°“√Õ‘ √– ·≈– TOMAS ª√–∏“π°√√¡°“√µ√«® Õ∫ - ª√‘≠≠“µ√’ (BBA) ∑“ß ¥â“π∫√‘À“√°“√®—¥°“√ University of East Phillippines 4) π“¬π‘æ—∑∏å ®‘µ√ª√– ß§å 62 - Certificate in Real Estate °√√¡°“√ Management °√√¡°“√Õ‘ √– ·≈– University at Hawaii °√√¡°“√µ√«® Õ∫ - ª√‘≠≠“‚∑ ∫√‘À“√∏ÿ√°‘® International Trade and Finance School of Economics and Business çAdministration, Swedené

08 √“¬ß“πª√–®”ªï 2548 ∫√‘ …— ∑ ≈≈‘ ≈ æ√Á Õ æ‡æÕ√å µ’È ®”°— ¥ (¡À“™π)

 —¥ à«π ª√– ∫°“√≥å°“√∑”ß“π„π√–¬– 5 ªï¬âÕπÀ≈—ß °“√∂◊ÕÀÿâπ (√âÕ¬≈–) ≥ ™à«ß‡«≈“ µ”·Àπàß ∫√‘…—∑ ª√–‡¿∑∏ÿ√°‘® 31/12/48 28.30 34.36

2546 - ªí®®ÿ∫—π 2531 - 2545 2546 - ªí®®ÿ∫—π 2531 - 2545

ª√–∏“π°√√¡°“√ ª√–∏“π°√√¡°“√ °√√¡°“√ºŸâ®—¥°“√ °√√¡°“√ºŸâ®—¥°“√

∫¡®.≈≈‘≈ æ√ÁÕæ‡æÕ√åµ’È ∫®°.≈≈‘≈ ·≈π¥å ·Õπ¥å‡Œâ“ å ∫¡®.≈≈‘≈ æ√ÁÕæ‡æÕ√åµ’È ∫®°.≈≈‘≈ ·≈π¥å ·Õπ¥å‡Œâ“ å

-

2541 - ªí®®ÿ∫—π √ÕߺŸâ®—¥°“√„À≠à ∏𓧓√°√ÿ߇∑æ ®”°—¥ √—∫º‘¥™Õ∫Àπ૬ߓπ (¡À“™π) ∫√‘À“√ ‘π‡™◊ËÕ摇»…

-

2538 - ªí®®ÿ∫—π

ºŸâÕ”π«¬°“√ ‚§√ß°“√∏ÿ√°‘® Õ —ßÀ“√‘¡∑√—æ¬å

Õ —ßÀ“√‘¡∑√—æ¬å Õ —ßÀ“√‘¡∑√—æ¬å Õ —ßÀ“√‘¡∑√—æ¬å Õ —ßÀ“√‘¡∑√—æ¬å

 ∂“∫—π°“√‡ß‘π

¡À“«‘∑¬“≈—¬∏√√¡»“ µ√å  ∂“∫—π°“√»÷°…“


Board of Directors and Management Name/Position

1) Taveesak Watcharekawong

Age (yr)

59

Chairman 2) Chaiyan Chakarakul

Education

- 30 years experience in

Shareholder (%) at Period 31/12/05 28.30

Real Estate 56

- Bachelor Degree in

Chief Executive

Commerce (honour)

Officer

Thammasart University

34.36

Working Experience Position

Company

Business

2003 - Present

Chairman

Lalin Property Public Co., ltd. Property Industry

1988 - 2002

Chairman

Lalin Land & House Co., ltd. Property Industry

2003 - Present

Managing Director Lalin Property Public Co., ltd. Property Industry

1998 - 2002

Managing Director Lalin Land & House Co., ltd. Property Industry

- M.S.Thammasart University - Real Estate Management, Chulalongkorn University # 8 - Senior Executive Program 4 Sasin GIBA Chulalongkorn University and The Wharton School University of Pennsyvania and “Kellogg� Graduate School of Management North-Western University - The National Defence for joint state-private sectors course, class 14 3) Suvarm Tansathit

61

Independent Director

- (M.SC) University

-

1998 - Present

of SANTO TOMAS

and Chairman of The Audit Committee

Senior Executive

Bangkok Bank

Financial

Vice President

Public Co., Ltd.

Institution

Thammasat University

Educational

- BBA (mangement)

Special Asset

University of East

Management

Philippines 4) Niputh Jitprasonk

62

- Certificate in Real Estate

Independent Director

Management University

and Member of Audit

at Hawaii

Committee

- MBA International Trade

-

1995 - Present

Director of Real Estate

Institution

Management Program

and Financial School of Economics and Business Administration, Sweden

09 Annual Report 2005 Lalin Property Public Company Limited


√ “ ¬ ≈ – ‡ Õ’ ¬ ¥ ° √ √ ¡ ° “ √ · ≈ – ºŸâ ∫ √‘ À “ √ ∫ √‘ …— ∑ ( µà Õ ) ™◊ËÕ- °ÿ≈/µ”·Àπàß

Õ“¬ÿ (ªï)

§ÿ≥«ÿ≤‘°“√»÷°…“

5) 𓬠ÿ√π—π∑å «ß»å«‘∑¬°”®√ °√√¡°“√ °√√¡°“√Õ‘ √– ·≈– °√√¡°“√µ√«® Õ∫

53 - ª√‘≠≠“‚∑ (Master of Arts) ‡»√…∞»“ µ√åæ—≤π“°“√ çWilliams College, USAé - ª√‘≠≠“µ√’ ‡»√…∞»“ µ√å∫—≥±‘µ  “¢“‡»√…∞»“ µ√å°“√‡ß‘π ·≈–°“√§≈—ß ¡À“«‘∑¬“≈—¬ ∏√√¡»“ µ√å 6) π“¬≥—∞  ßà“ ß‡§√“–Àå 46 - MBA ¡À“«‘∑¬“≈—¬√—ß ‘µ °√√¡°“√ ‡≈¢“πÿ°“√∫√‘…—∑œ - ºŸâ∫√‘À“√Õ —ßÀ“√‘¡∑√—æ¬å ·≈–ºŸâ™à«¬°√√¡°“√ºŸâ®—¥°“√ ®ÿÓ≈ß°√≥å¡À“«‘∑¬“≈—¬ √ÿàπ∑’Ë 11

 —¥ à«π ª√– ∫°“√≥å°“√∑”ß“π„π√–¬– 5 ªï¬âÕπÀ≈—ß °“√∂◊ÕÀÿâπ (√âÕ¬≈–) ≥ ™à«ß‡«≈“ µ”·Àπàß ∫√‘…—∑ ª√–‡¿∑∏ÿ√°‘® 31/12/48 -

0.04

2543 - ªí®®ÿ∫—π ºŸâ™à«¬‡≈¢“∏‘°“√ 2539 - 2542

ºŸâÕ”π«¬°“√°Õß ‚§√ß°“√æ◊Èπ∞“π

2546 - ªí®®ÿ∫—π

ºŸâ™à«¬°√√¡°“√ ºŸâ®—¥°“√ ºŸâ®—¥°“√ΩÉ“¬Õ“«ÿ‚  ΩÉ“¬∫√‘À“√ß“π °àÕ √â“ß ºŸâ®—¥°“√ΩÉ“¬ ∫√‘À“√‚§√ß°“√ ºŸâ™à«¬°√√¡°“√ ºŸâ®—¥°“√ ºŸâ™à«¬°√√¡°“√ ºŸâ®—¥°“√ ºŸâ®—¥°“√ ΩÉ“¬°“√‡ß‘π ºŸâ™à«¬°√√¡°“√ ºŸâ®—¥°“√ ºŸâ®—¥°“√ ”π—° °√√¡°“√ºŸâ®—¥°“√ ºŸâ™à«¬ºŸâ®—¥°“√ΩÉ“¬ ª√–‡¡‘πº≈°“√ ¥”‡π‘π°“√ ºŸâ®—¥°“√‚§√ß°“√ ºŸâ®—¥°“√ΩÉ“¬Õ“«ÿ‚  ΩÉ“¬∫√‘À“√ß“π °àÕ √â“ß ºŸâ®—¥°“√ΩÉ“¬ ∫√‘À“√ß“π °àÕ √â“ß

2543 - 2545 2532 - 2543

7) 𓬉æ∫Ÿ≈¬å Õÿ¥¡°“πµå°‘® °√√¡°“√ ·≈– ºŸâ™à«¬°√√¡°“√ºŸâ®—¥°“√

8) 𓬙Ÿ™’æ ¥‘…∞几∂’¬√ °√√¡°“√ ·≈– ºŸâ™à«¬°√√¡°“√ºŸâ®—¥°“√

9) π“¬≥√ß§å  ßà“ ß‡§√“–Àå ºŸâ®—¥°“√ΩÉ“¬Õ“«ÿ‚  ΩÉ“¬∫√‘À“√ß“π°àÕ √â“ß

10 √“¬ß“πª√–®”ªï 2548 ∫√‘ …— ∑ ≈≈‘ ≈ æ√Á Õ æ‡æÕ√å µ’È ®”°— ¥ (¡À“™π)

44 - ª√‘≠≠“‚∑ (Master of Administration)  “¢“°“√‡ß‘π çArmstrong University, USAé - ∫—≠™’∫—≥±‘µ ¡À“«‘∑¬“≈—¬°√ÿ߇∑æ 40 - MBA (°“√µ≈“¥·≈– °“√‡ß‘π) ¡À“«‘∑¬“≈—¬ ∏√√¡»“ µ√å - «‘»«°√√¡»“ µ√å∫—≥±‘µ  “¢“‚¬∏“ ®ÿÓ≈ß°√≥å ¡À“«‘∑¬“≈—¬ 52 - MPPM NIDA - «‘»«°√√¡»“ µ√å∫—≥±‘µ  “¢“‚¬∏“ Phillipines - ª√‘≠≠“µ√’ (∫√‘À“√ß“π °àÕ √â“ß) ¡À“«‘∑¬“≈—¬  ÿ‚¢∑—¬∏√√¡“∏‘√“™ - Mini MBA ®ÿÓ≈ß°√≥å ¡À“«‘∑¬“≈—¬ - Mini MBA ¡À“«‘∑¬“≈—¬ ∏√√¡»“ µ√å

-

2546 - ªí®®ÿ∫—π 2545 2541 - 2544

-

2547 - ªí®®ÿ∫—π 2545 - 2547 2542 - 2545

0.04

2533 - 2541 2546 - ªí®®ÿ∫—π 2531 - 2545

 ”π—°ß“π§≥–°√√¡°“√ æ—≤𓇻√…∞°‘®·≈–  —ߧ¡·Ààß™“µ‘  ”π—°ß“π§≥–°√√¡°“√ æ—≤𓇻√…∞°‘®·≈–  —ߧ¡·Ààß™“µ‘

Àπ૬ߓπ√“™°“√

∫¡®.≈≈‘≈ æ√ÁÕæ‡æÕ√åµ’È

Õ —ßÀ“√‘¡∑√—æ¬å

Àπ૬ߓπ√“™°“√

∫®°.≈≈‘≈ ·≈π¥å ·Õπ¥å‡Œâ“ å Õ —ßÀ“√‘¡∑√—æ¬å ∫®°.≈≈‘≈ ·≈π¥å ·Õπ¥å‡Œâ“ å Õ —ßÀ“√‘¡∑√—æ¬å ∫¡®.≈≈‘≈ æ√ÁÕæ‡æÕ√åµ’È

Õ —ßÀ“√‘¡∑√—æ¬å

∫®°.∫’.Õ’.´’. Õÿª°√≥å ‡§¡’¿—≥±å ·≈–‡§¡’¿—≥±å ∫®°.·ª´‘øî§ Õ‘π‡µÕ√å‡πÁµ  ◊ËÕ “√ (ª√–‡∑»‰∑¬) ∫¡®.≈≈‘≈ æ√ÁÕæ‡æÕ√åµ’È Õ —ßÀ“√‘¡∑√—æ¬å ∫¡®.‰∑¬√ÿà߬Ÿ‡π’ˬπ§“√å

ª√–°Õ∫√∂¬πµå

∫®.‰∑¬‡√∑µ‘Èß·Õπ¥å

∫√‘…—∑∑’˪√÷°…“ Õ‘πøÕ√凡™—Ëπ ‡´Õ√å«‘  Õ —ßÀ“√‘¡∑√—æ¬å Õ —ßÀ“√‘¡∑√—æ¬å

∫¡®.°ƒ…¥“¡À“π§√ ∫¡®.≈≈‘≈ æ√ÁÕæ‡æÕ√åµ’È

∫®°.≈≈‘≈ ·≈π¥å ·Õπ¥å‡Œâ“ å Õ —ßÀ“√‘¡∑√—æ¬å


Board of Directors and Management (Continue) Name/Position

5) Suranan

Age (yr)

53

Wongvithayakamjorn

Education

- (Master of Arts)

Shareholder (%) at Period 31/12/05 -

2002 - Present

Development Economics,

Independent Director

Working Experience Position

Company

Assistant Executive The National Ecomomics Secretary

and Social Development

Director of

The National Ecomomics

Ecomomics, Major in

Infrastructure

and Social Development

Ecomomics, Major in

Department

Board

Williams College, USA

and Member of Audit

Government

Board

- Bachelor Degree in

Committee

Business

1996 - 1999

Government

Monetary & Fiscal Policy, Thammasat University 6) Nat Sangarsongkogk

46

Director, Company’s

- MBA Rangsit University

0.04

2003 - Present

- Real Estate Management,

Executive Secretary and

Chulalongkorn

Assistant to Managing

University # 11

Assistant Managing Lalin Property Public Co., Ltd. Property Industry Director

2000 - 2002

Senior Project

Lalin Land & House Co., Ltd. Property Industry

Construction

Director

Manager 1989 - 2000

Project

Lalin Land & House Co., Ltd. Property Industry

Construction Manager 7) Paiboon Udomkarnkit

44

- Master of Administration

Director and Assistant

Armstrong University

Managing Director

USA

-

2003 - Present

Assistant Managing Lalin Property Public Co., Ltd. Property Industry Director

2002

- Bachelor of Accounting Bangkok University

1998 - 2001

Assistant Managing BEC THAI Equipment & Director

Chemical Co., Ltd.

Finance Manager

Pacific Internet

Chemical Communications

(Thailand) Co., Ltd. 8) Chucheep Ditsathien

40

- MBA (Marketing

Director and Assistant

& Finance)

Managing Director

Thammasat University

-

2004 - Present

Assistant Managing Lalin Property Public Co., Ltd. Property Industry Director

2002 - 2004

- Bachelor of Civil Engineering,

1999 - 2002

Chulalongkorn University

Manager Managing

Thai Rung Union Car

Director Office

Public Co., Ltd.

Assistant Manager

Thai Rating and

Performance

Information Services

Appraisal

Co., Ltd.

Automotives Consultant

Department 1990 - 1998

Project Manager

Krisda Mahanakorn

Property Industry

Public Co., Ltd. 9) Narong Sangarsongkok Senior Project Construction Manager

52

- MPPM NIDA

0.04

2000 - Present

- Bachelor of Engineering,

(Construction Management) Sukothai

Lalin Land & House Co., Ltd. Property Industry

Construction

Phillipines - Bachelor of Engineering,

Senior Project Manager

1988 - 2000

Project

Lalin Land & House Co., Ltd. Property Industry

Construction Manager

Dhammatirat University - Mini MBA Chulalongkorn University - Mini MBA Thammasat University

11 Annual Report 2005 Lalin Property Public Company Limited


¢â Õ ¡Ÿ ≈ ‡ °’Ë ¬ « °— ∫ ∫ √‘ …— ∑

Company Information ∫√‘…—∑ ≈≈‘≈ æ√ÁÕæ‡æÕ√åµ’È ®”°—¥ (¡À“™π) Lalin Property Public Company Limited ∑’˵—Èß

‡≈¢∑’Ë 222/2 ∂ππ»√’π§√‘π∑√å ·¢«ßÀ—«À¡“° ‡¢µ∫“ß°–ªî °√ÿ߇∑æœ 10240 ‚∑√»—æ∑å (662) 732-1041-5 ‚∑√ “√ (662) 377-9656 ª√–‡¿∑∏ÿ√°‘®

æ—≤π“Õ —ßÀ“√‘¡∑√—æ¬å ∑–‡∫’¬π‡≈¢∑’Ë

40854500696 Homepage

www.lalinproperty.com √Õ∫√–¬–‡«≈“∫—≠™’

1 ¡°√“§¡ - 31 ∏—𫓧¡ ∑ÿπ®¥∑–‡∫’¬π

925 ≈â“π∫“∑ ∑ÿπ™”√–·≈â«

825 ≈â“π∫“∑ ¡Ÿ≈§à“∑’˵√“‰«â

Àÿâπ≈– 1 ∫“∑

12 √“¬ß“πª√–®”ªï 2548 ∫√‘ …— ∑ ≈≈‘ ≈ æ√Á Õ æ‡æÕ√å µ’È ®”°— ¥ (¡À“™π)


√ÿ ª ¢â Õ ¡Ÿ ≈ ∑ “ ß ° “ √ ‡ ß‘ π

Financial Summary

√“¬°“√ Detail

2546 2003

2547 2004

2548 2005

3,280.10 2,312.10

4,082.21 8,608.5

4,554.87 3,913.18

666.50 49.50 715.90 825.00 2,564.10

185.70 1.7 1,210.79 825.00 2,871.41

261.67 45.30 1,362.52 825.00 3,192.35

3,130.10 3,145.30 1,257.10 784.40

2,334.82 2,345.82 1,064.7 580.48

2,748.50 2,764.79 1,230.50 692.63

°”‰√ (¢“¥∑ÿπ)  ÿ∑∏‘ / Net Profit (Loss) ¡Ÿ≈§à“µ“¡∫—≠™’ / Book Value ¡Ÿ≈§à“∑’˵√“‰«â / Par Value Õ—µ√“ à«π∑“ß°“√‡ß‘π

0.95 3.11 1.00

0.7 3.48 1.00

0.84 3.87 1.00

Õ—µ√“ à«π ¿“æ§≈àÕß / Current Ratio Õ—µ√“ à«π ¿“æ§≈àÕßÀ¡ÿπ‡«’¬π‡√Á« / Quick Ratio Õ—µ√“ à«π· ¥ß§«“¡ “¡“√∂„π°“√∑”°”‰√

3.56 0.09

9.32 0.79

7.67 0.96

Õ—µ√“°”‰√¢—Èπµâπ / Gross Profit Margin Õ—µ√“°”‰√®“°°“√¥”‡π‘πß“π / Operation Profit Margin Õ—µ√“°”‰√ ÿ∑∏‘ / Net Profit Margin Õ—µ√“º≈µÕ∫·∑πºŸâ∂◊ÕÀÿâπ / Return on Equites Õ—µ√“ à«πª√– ‘∑∏‘¿“æ„π°“√¥”‡π‘πß“π

40.10% 33.24% 24.94% 30.59%

45.67% 34.04% 24.86% 20.22%

44.99% 34.83% 25.20% 22.84%

Õ—µ√“º≈µÕ∫·∑π®“°∑√—æ¬å ‘π∑—ÈßÀ¡¥ / Return on Asset Õ—µ√“ à«ππ‚¬∫“¬∑“ß°“√‡ß‘π

23.91%

14.22%

16.04%

0.28 64.59

0.42 25.11

0.43 19.18

825.00

825.00

825.00

 ‘π∑√—æ¬å (≈â“π∫“∑)

Assets (Million Baht)  ‘π∑√—æ¬å√«¡ / Total Asset  ‘π§â“§ß‡À≈◊Õ / Inventory

Àπ’È ‘π·≈– à«π¢ÕߺŸâ∂◊ÕÀÿâπ (≈â“π∫“∑)

Liabilities & Shareholders’ Equity (Million Baht) ‡ß‘π°Ÿâ‡ß‘π√–¬– —Èπ / Short-Term Loan ‡ß‘π°Ÿâ‡ß‘π√–¬–¬“« / Long-Term Loan Àπ’ È ‘π√«¡ / Total Liabilities ∑ÿπ∑’ËÕÕ°·≈–‡√’¬°™”√–·≈â« / Paid up Share capital  à«π¢ÕߺŸâ∂◊ÕÀÿâπ / Shareholders’ Equity

º≈°“√¥”‡π‘πß“π (≈â“π∫“∑)

Result of Operation (Million Baht) √“¬‰¥â®“°°“√¢“¬ / Sales √“¬‰¥â√«¡ / Total Revenue °”‰√¢—Èπµâπ / Gross Profile °”‰√ ÿ∑∏‘ / Net Profit

‡∑’¬∫‡ªìπÕ—µ√“µàÕÀÿâπ (∫“∑) Per Share Figure (Baht)

Liquidity Ratio

Profit Ability Ratio

Efficiency Ratio

Financial Policy Ratio

Õ—µ√“Àπ’È ‘πµàÕ à«π¢ÕߺŸâ∂◊ÕÀÿâπ / Debt to Equity Ratio Õ—µ√“ à«π§«“¡ “¡“√∂™”√–¥Õ°‡∫’Ȭ / Interest Coverge Ratio ®”π«πÀÿâπ∑’ˇ√’¬°™”√–·≈â« (≈â“πÀÿâπ) Number of Outstanding Shares (Million Shares)

13 Annual Report 2005 Lalin Property Public Company Limited


Lalin Property Public Company Limited


¿ “ « – ‡ » √ … ∞ °‘ ® ¢ Õ ß ª √ – ‡ ∑ » · ≈ – ∏ÿ √ °‘ ® Õ  — ß À “ √‘ ¡ ∑ √— æ ¬å

¿“«–‡»√…∞°‘®¢Õߪ√–‡∑»‰∑¬„πªï 2548 ‰¥â√—∫º≈ °√–∑∫®“°ªí®®—¬≈∫¥â“πµà“ßÊ Õ¬à“ßµàÕ‡π◊ËÕßµ—Èß·µàµâπªï §«“¡‡ ’¬À“¬¿“¬À≈—ß®“°‡Àµÿ°“√≥å∏√≥’æ‘∫—µ‘„π‡¢µ 6 ®—ßÀ«—¥ ™“¬Ωíòß∑–‡≈Õ—π¥“¡—π„π™à«ßª≈“¬ªï 2547 ªí≠À“§«“¡‰¡à ß∫„π 3 ®—ßÀ«—¥™“¬·¥π¿“§„µâ ªí≠À“¿—¬·≈âß∑’Ë àߺ≈°√–∑∫µàÕ¿“§ °“√º≈‘µ ·≈–°“√‡æ‘Ë¡¢÷ÈπÕ¬à“ß√ÿπ·√ß·≈–§«“¡º—πº«π¢Õß√“§“ πÈ”¡—π‚≈°∑’Ë àߺ≈µàÕ√–∫∫‡»√…∞°‘®¢Õ߉∑¬‚¥¬µ√ß∑”„Àâ°“√π” ‡¢â“πÈ”¡—π¡’¡Ÿ≈§à“ Ÿß¢÷Èπ  àߺ≈„Àâª√–‡∑»‰∑¬ª√– ∫ªí≠À“°“√ ¢“¥¥ÿ≈°“√§â“·≈–¥ÿ≈∫—≠™’‡¥‘π –æ—¥ ªí®®—¬¿“¬πÕ°ª√–‡∑»¬—ß  àߺ≈µàÕ‡»√…∞°‘®¿“¬„πª√–‡∑»‡™àπ °“√‡æ‘Ë¡¢÷Èπ¢ÕßÕ—µ√“ ‡ß‘π‡øÑÕ ·¡â«à“„π™à«ß§√÷ËßÀ≈—ߢÕߪïÀ≈“¬ªí≠À“¡’·π«‚πâ¡„π∑“ß ∑’Ë¥’¢÷Èπ ‡¡◊ËÕ¡Õß¿“æ√«¡∑—Èߪï 2548 √–∫∫‡»√…∞°‘®¢Õ߉∑¬  “¡“√∂‡µ‘∫‚µ®“°°“√∫√‘‚¿§ °“√≈ß∑ÿπ¿“¬„πª√–‡∑»√«¡∑—Èß °“√≈ß∑ÿπ®“°µà“ß™“µ‘ ª√–°Õ∫°—∫°“√øóôπµ—«¢Õ߇»√…∞°‘®‚≈° ·≈–‡»√…∞°‘®„π¿Ÿ¡‘¿“§ ª√–¡“≥°“√«à“ªï 2548 ®–¡’°“√¢¬“¬ µ—«¢Õߺ≈‘µ¿—≥±å¿“¬„πª√–‡∑»À√◊Õ GDP ∑—ÈߪﮖլŸà∑’˪√–¡“≥ 4.7 - 5 % ‡ªìπ°“√¢¬“¬µ—«„πÕ—µ√“∑’Ë≈¥≈ß®“° 6.1% „πªï 2547 ∑’˺à“π¡“ ∑—Èßπ’È°“√¢¬“¬µ—«¥—ß°≈à“«¡’ªí®®—¬ ”§—≠®“°°“√¢¬“¬ µ—«¢Õß°“√≈ß∑ÿπ·≈–°“√∫√‘‚¿§¢Õß¿“§√—∞·≈–‡Õ°™π ‚¥¬

16 √“¬ß“πª√–®”ªï 2548 ∫√‘ …— ∑ ≈≈‘ ≈ æ√Á Õ æ‡æÕ√å µ’È ®”°— ¥ (¡À“™π)

‡©æ“–ª√‘¡“≥°“√ àßÕÕ°∑’Ë¢¬“¬ ŸßÕ¬à“ßµàÕ‡π◊ËÕß ‡¡◊ËÕ¡Õß∂÷ß µ—«™’È«—¥ ∂“𖇻√…∞°‘®∑’Ë ”§—≠®–‡ÀÁπ‰¥â«à“ √–∫∫‡»√…∞°‘® ª√–‡∑»‰∑¬¡’æ◊Èπ∞“π∑’Ë¥’ Õ“∑‘‡™àπ ¿“§°“√ àßÕÕ°¢¬“¬µ—«Õ¬à“ß µàÕ‡π◊ËÕß §à“‡ß‘π∫“∑¡’‡ ∂’¬√¿“æ ·≈–∑ÿπ ”√ÕߢÕߪ√–‡∑» ‡æ‘Ë¡ Ÿß¢÷Èπ ·≈–„π¿“§°“√º≈‘µ®√‘ß·≈–°“√„™â°”≈—ß°“√º≈‘µ∑’ËÕ¬Ÿà „π√–¥—∫ Ÿß ∑”„Àâ ∂“π°“√≥å¥â“π°“√®â“ßß“π¥’¢÷Èπ ¡’Õ—µ√“°“√ «à“ßß“π∑’˵˔≈ß ∑“ߥâ“π¿“§°“√‡ß‘π„πªï 2548 ∂◊Õ‰¥â«à“‡ªìπªï∑’ËÕ—µ√“ ¥Õ°‡∫’Ȭ¿“¬„πª√–‡∑»‡√‘Ë¡ª√—∫µ—« Ÿß®“°√–¥—∫µË”¡“À≈“¬ªï  à«πÀπ÷Ëß°Á¡’º≈¡“®“°°“√‡√àßµ—«¢÷Èπ¢ÕßÕ—µ√“‡ß‘π‡øÑÕ ·≈– °“√ª√—∫Õ—µ√“¥Õ°‡∫’Ȭ¢÷ÈπµàÕ‡π◊ËÕߢÕß∏𓧓√°≈“ߢÕß À√—∞ ‚¥¬∑’ËÕ—µ√“¥Õ°‡∫’Ȭ¬—ߧߡ’·π«‚π⡇æ‘Ë¡¢÷ÈπµàÕ‡π◊ËÕß„πªï 2549 °“√‡æ‘Ë¡¢÷Èπ¢Õߥհ‡∫’Ȭ¬àÕ¡‡ªìπ°“√‡æ‘Ë¡µâπ∑ÿπ„Àâ°—∫¿“§∏ÿ√°‘® ·≈–ºŸâ∫√‘‚¿§‚¥¬µ√ß ·µà°“√¢¬“¬µ—«¢Õß ‘π‡™◊ËÕ¿“§‡Õ°™π°Á¬—ß ¡’·π«‚πâ¡°“√¢¬“¬µ—«∑’ˇæ‘Ë¡¢÷Èπ ∏𓧓√æ“≥‘™¬åµà“ßÊ ‡√‘Ë¡„Àâ §«“¡ ”§—≠°—∫∏ÿ√°‘®√“¬¬àÕ¬¡“°¢÷Èπ ·≈–¡Õß«à“‡ªìπ°≈ÿࡇªÑ“ À¡“¬∑’Ë ”§—≠¡“°°«à“·µà°àÕπ  ”À√—∫·π«‚πâ¡°“√¢¬“¬µ—«∑“߇»√…∞°‘®„πªï 2549 ªí®®—¬¿“¬πÕ°∑’Ë¡’§«“¡ ”§—≠§◊Õ  ¿“«–‡»√…∞°‘®‚≈°∑’ˬ—ß§ß ‰¥â√—∫º≈°√–∑∫®“°§«“¡°—ß«≈„π‡√◊ËÕß°“√°àÕ°“√√⓬ √“§“πÈ”¡—π (®“°§«“¡µâÕß°“√∑’ˇæ‘Ë¡¢÷Èπ·≈–°“√‡°Áß°”‰√¢Õß°Õß∑ÿπ) Õ—µ√“¥Õ°‡∫’Ȭ„πµ≈“¥‚≈°∑’ËÕ¬Ÿà„π™à«ß¢“¢÷Èπ ¿“«–°“√™–≈Õµ—« ¢Õ߇»√…∞°‘®‚≈° √«¡∑—Èߺ≈°√–∑∫®“°°“√¢âÕæ‘æ“∑∑“ß°“√§â“ ¢Õߪ√–‡∑»∑’Ë ”§—≠ °“√°’¥°—Èπ∑“ß°“√§â“„π√Ÿª·∫∫µà“ßÊ  à«πªí®®—¬¿“¬„π ‘Ëß∑’Ë®– àߺ≈°√–∑∫µàÕ‡»√…∞°‘®°Á§◊Õ Õ—µ√“ ‡ß‘π‡øÑÕ∑’Ë Ÿß¢÷Èπµ“¡µâπ∑ÿπ∑’Ë Ÿß¢÷Èπ ·≈–Õ—µ√“¥Õ°‡∫’ȬլŸà„π·π« ‚πâ¡°“√ª√—∫µ—«¢÷Èπ ªí®®—¬∑“ߥâ“π°“√‡¡◊Õß∑’Ë®– àߺ≈µàÕπ‚¬∫“¬ ¢Õߪ√–‡∑» °“√∫√‘‚¿§·≈–°“√≈ß∑ÿπ¿“¬„πª√–‡∑»¬—ߧ߇ªìπ µ—«¢—∫‡§≈◊ËÕπ∑’Ë ”§—≠ ‚¥¬‡©æ“–°“√≈ß∑ÿπ¢π“¥„À≠à¢Õß¿“§√—∞ ´÷Ëß®–‡ªìπªí®®—¬∑’Ë ”§—≠µàÕ°“√¢¬“¬µ—«¢Õß√–∫∫‡»√…∞°‘®¿“¬„π ª√–‡∑»µàÕ‡π◊ËÕßÕ’°À≈“¬ªï  ”À√—∫¿“æ√«¡·π«‚π⡇»√…∞°‘®„π ªï 2549 °“√¢¬“¬µ—«∑“߇»√…∞°‘®®–¡’∑‘»∑“ß∑’Ë¥’¢÷Èπ®“°ªí®®—¬ ¥â“π≈∫„πªï 2548 ∑’˧≈’˧≈“¬≈ß §“¥«à“ GDP ∑’Ë¢¬“¬µ—«Õ¬à“ß µàÕ‡π◊ËÕß®– àߺ≈µàÕ§«“¡µâÕß°“√∑’ËÕ¬ŸàÕ“»—¬¢¬“¬µ—«µàÕ‰ª‰¥â


Economic Environment and the Property Industry volume. Looking at the key economic indices, it may be seen that the Thai economy has good fundamentals, such as the sustained growth of exports, the stability of the Baht currency and a rise in the national reserves. In the manufacturing sector, production capacity remained high, leading to improved employment and a fall in the rate of unemployed. On the monetary side, 2005 was the year in which interest rates rose, after having held low for several years previously. A contributing reason was inflation picking up speed, as well as the continual interest rate hikes by the US Federal Bank. Interest rates are expected to rise further in 2006. The increase in interest rates inevitably means a direct rise in costs for businesses and consumers. Despite this, the expansion of credit in the private sector continued steadily, with commercial banks beginning to The Thai economic situation in 2005 was impacted by a number of variables right from the onset of the year. These ranged from the damage caused by the devastating tsunami in 6 Andaman seaboard provinces at the end of 2004; the separatist unrest in 3 Southern provinces; the drought crisis which also affected the production sector; as well as rocketing and fluctuating global oil prices, which directly affected the Thai economic system and saw oil import values soar. The effects were evident in Thailand’s trade deficit and current account deficit. External factors also had a strong influence on the national economy in areas such as the rise of inflation. However, towards the latter half of the year, various problems appeared to ease and improve. The Thai economy managed to register growth on the back of consumption, domestic investment – including by foreign capital – as well as the recovery of the world and regional economies. It is forecasted that for 2005, GDP growth for the entire year will register at approximately 4.7-5%, representing a drop from growth in 2004 of 6.1%. The expansion was driven primarily by the factors of public and private sector investment and consumption. This held particularly true for the constant rise in export

focus more on smaller businesses and recognising them more as important target customer groups. The trends for economic growth in 2006 will be shaped by external forces, namely the global economy, which remains concerned with terrorist threats; oil prices (from rising demand and profit speculation by funds); global interest rates on the upswing; and the slowdown of the world economy. Other factors are trade disputes with major nations and trade barriers in different forms. Internal factors which will play an important role are rising inflation in response to rising costs; upward adjustments to interest rates; and political factors that impact national policies. Domestic consumption and investment will remain important drivers of the economy, especially the Government’s megaproject investments, which will continue to be an important factor in economic expansion for many more years. The overall picture for the economy in 2006 will show improved growth prospects as the negative factors of 2005 ease off. It is expected that the continued GDP growth will influence the demand for housing.

17 Annual Report 2005 Lalin Property Public Company Limited


∏ÿ√°‘®Õ —ßÀ“√‘¡∑√—æ¬å

∏ÿ√°‘®Õ —ßÀ“√‘¡∑√—æ¬å„πªï 2548 ¡’ªí®®—¬≈∫À≈“¬Õ¬à“ß Õ“∑‘‡™àπ √“§“πÈ”¡—π∑’Ë Ÿß¢÷Èπ Õ—µ√“¥Õ°‡∫’Ȭ¢“¢÷È𠧫“¡‡™◊ËÕ¡—Ëπ ∑“߇»√…∞°‘®∑’ˉ¡à¥’ ªí®®—¬‡À≈à“π’È àߺ≈‚¥¬µ√ßµàÕ°”≈—ß´◊ÈÕ·≈– §«“¡‡™◊ËÕ¡—ËπµàÕ°“√µ—¥ ‘π„®„π°“√´◊ÈÕ∫â“π„Àâ≈¥≈ß ·µà∏ÿ√°‘® Õ —ßÀ“√‘¡∑√—æ¬å¬—ߧߢ¬“¬µ—«Õ¬à“ßµàÕ‡π◊ËÕß ∑—Èßπ’È°“√¢¬“¬µ—« ¥—ß°≈à“« “‡Àµÿ∑’Ë ”§—≠ª√–°“√Àπ÷Ëß¡“®“°√–∫∫§¡π“§¡ ∂ππ„π‡ âπ∑“ß„À¡à √–∫∫¢π àß¡«≈™π·∫∫√“ß„πÕ𓧵 ‡ªìπ ‘Ëß∑’˺ŸâµâÕß°“√´◊ÈÕ∫â“π„À⧫“¡ ”§—≠°—∫§«“¡ –¥«°„π°“√ ‡¥‘π∑“ß ∑—ÈߺŸâª√–°Õ∫°“√µà“ßæ—≤𓂧√ß°“√‡æ◊ËÕµÕ∫ πÕß §«“¡µâÕß°“√∑’ËÕ¬ŸàÕ“»—¬ (Housing Demand) ∑’ˬ—ß¡’���ªìπ®”π«π ¡“° ∑—Èßπ’È°“√¢¬“¬µ—«¢Õß¿“§Õ —ßÀ“√‘¡∑√—æ¬å„πªï 2548 ¬—ß§ß ¡’ªí®®—¬Õ◊Ëπ π—∫ πÿπ∑’Ë ”§—≠§◊Õ ¿“«–¥Õ°‡∫’ȬµË” √“§“∫â“π∑’Ë®– ª√—∫µ—« Ÿß¢÷Èπ„πÕ𓧵 °“√ π—∫ πÿπ¥â“π∑’ËÕ¬ŸàÕ“»—¬®“°¿“§√—∞ ‡™à𠂧√ß°“√ ‘π‡™◊ËÕ‡æ◊ËÕ∑’ËÕ¬ŸàÕ“»—¬ ∫â“π‡Õ◊ÈÕÕ“∑√ ∫â“πÕÕ¡ ‘π ªí®®—¬‡À≈à“π’Ⱥ≈—°¥—π„Àâ¿“§Õ —ßÀ“√‘¡∑√—æ¬å¢¬“¬µ—«Õ¬à“ßµàÕ ‡π◊ËÕß„πªï 2548

§«“¡µâÕß°“√∑’ËÕ¬ŸàÕ“»—¬∑’Ë¢¬“¬µ—«Õ¬à“ßµàÕ‡π◊ËÕß ®“° µ—«‡≈¢°“√®¥∑–‡∫’¬π∑’ËÕ¬ŸàÕ“»—¬„π‡¢µ°√ÿ߇∑æœ ·≈–ª√‘¡≥±≈ ∑’ˇ√‘Ë¡‡æ‘Ë¡ Ÿß¢÷Èπµ—Èß·µàªï 2544 ´÷Ëß∂◊Õ«à“∏ÿ√°‘®Õ —ßÀ“√‘¡∑√—æ¬å„π ªí®®ÿ∫—π°”≈—ßÕ¬Ÿà„π™à«ßª√—∫µ—«„π°“√‡µ‘∫‚µ·∫∫¡’¥ÿ≈¬¿“æ À√◊Õ ·∫∫§àÕ¬‡ªìπ§àÕ¬‰ª À≈—ß®“°∑’‡Ë µ‘∫‚µ·∫∫√âÕπ·√ß„πªï 2546 ®–‡ÀÁπ‰¥â«à“Õÿª ß§å∑’ˇæ‘Ë¡¢÷ÈπÕ¬à“ßµàÕ‡π◊ËÕß  à«π„À≠à‡ªìπ°“√´◊ÈÕ ‡æ◊ËÕ‡¢â“Õ¬ŸàÕ“»—¬®√‘ß ‚¥¬ª√–¡“≥°“√«à“„πªï 2548 ®–¡’¬Õ¥°“√ ®¥∑–‡∫’¬π∑’ËÕ¬ŸàÕ“»—¬„π‡¢µ°√ÿ߇∑æœ ·≈–ª√‘¡≥±≈‡æ‘Ë¡¢÷Èπ ª√–¡“≥ 10 % ®“°ªï∑’˺à“π¡“

∑’ËÕ¬ŸàÕ“»—¬®¥∑–‡∫’¬π‡æ‘Ë¡„π‡¢µ°√ÿ߇∑æœ ·≈–ª√‘¡≥±≈ ªï 2537-2548 2537 2538 2539 2540 2541 2542 2543 2544 2545 2546 2547 2548F

®¥∑–‡∫’¬π∑’ËÕ¬ŸàÕ“»—¬ 171,254 172,419 166,785 145,355 63,864 33,382 32,012 34,023 34,035 50,594 62,796 69,000 Growth (%) 28% 1% -3% -13% -56% -48% -4% 6% 0.04% 49% 24% 10% ∑’Ë¡“ : »Ÿπ¬å¢âÕ¡Ÿ≈Õ —ßÀ“√‘¡∑√—æ¬å

°“√®¥∑–‡∫’¬π∑’ËÕ¬ŸàÕ“»—¬„π‡¢µ°√ÿ߇∑æœ ·≈–ª√‘¡≥±≈ ªï 2540-2548 180,000

171,254

172,419

166,785

150,000

145,355

120,000 90,000 63,864

60,000 30,000 0

62,796

69,000

2547

2548F

50,594

2537

18 √“¬ß“πª√–®”ªï 2548 ∫√‘ …— ∑ ≈≈‘ ≈ æ√Á Õ æ‡æÕ√å µ’È ®”°— ¥ (¡À“™π)

2538

2539

2540

2541

33,382

32,012

34,023

34,035

2542

2543

2544

2545

2546

®¥∑–‡∫’¬π∑’ËÕ¬ŸàÕ“»—¬


The property business The property business in 2005 was affected by

The sustained demand for housing is evidenced

many factors, most notably, rising oil prices, spiraling

by new property registration figures in Bangkok and its

inflation and poor economic confidence. These had a

vicinity, which began to rise since 2001. The current

direct effect eroding purchasing power and the confidence

property business is entering a phase of balanced growth,

to make housing purchase decisions. Nonetheless, the

or slow but steady expansion, following dramatic

property business continued to grow, facilitated by new

growth in 2003. It can be seen that demand has grown

roads and future mass transit rail route projects. Buyers

consistently, with housing purchased for actual residency.

place a high priority on the convenience of such transport

It is forecasted that in 2005, there will be a 10% increase

links. Property developers continued to launch new

in new property registrations for Bangkok and vicinity

projects to meet the considerable housing demand.

areas.

The expansion of the property business was supported by the key requirements of low interest rates, the rising costs of future housing and public sector support for housing, such as credit for housing, the Ua Arthorn and Orm Sin housing projects. All these factors helped drive the growth of the property industry in 2005.

Growth of property registrations for Bangkok and vicinity areas in 1994-1995 1994 1995 1996 1997 1998 1999 2000 2001 2002 2003 2004 2005F Property registrations 171,254 172,419 166,785 145,355 63,864 Growth (%)

28%

1%

-3%

-13%

-56%

33,382

32,012

34,023

34,035

50,594

62,796

69,000

-48%

-4%

6%

0.04%

49%

24%

10%

Source : Real Estate Information Center

Property registrations for Bangkok and outlying areas in 1994-2005 180,000

171,254

172,419

166,785

150,000

145,355

120,000 90,000 63,864

60,000 30,000 0 Housing Registrators

62,796

69,000

2004

2005F

50,594

1994

1995

1996

1997

1998

33,382

32,012

34,023

34,035

1999

2000

2001

2002

2003

19 Annual Report 2005 Lalin Property Public Company Limited


„π à«π¢Õß¿“æ√«¡∏ÿ√°‘®∫â“π®—¥ √√ „πªï 2548 ¡’ °“√¢¬“¬µ—«Õ¬à“ßµàÕ‡π◊ËÕß®“°ªï 2547 ‡¡◊ËÕ¥Ÿ®“°µ—«‡≈¢°“√ ®¥∑–‡∫’¬π∑’ËÕ¬ŸàÕ“»—¬„π°√ÿ߇∑æœ ·≈–ª√‘¡≥±≈ ‚¥¬·∫à߇ªìπ 2  à«π §◊Õª√–‡¿∑ √â“߇Õß·≈–ª√–‡¿∑®—¥ √√ ®–æ∫«à“∑—Èß∫â“π ª√–‡¿∑ √â“߇Õß·≈–∫â“πª√–‡¿∑®—¥ √√¡’Õ—µ√“‡µ‘∫‚µ‡æ‘Ë¡¢÷Èπ ®“°ªï°àÕπ  ”À√—∫∑’ËÕ¬ŸàÕ“»—¬ª√–‡¿∑®—¥ √√∑’Ë¡’Õ—µ√“‡µ‘∫‚µ ‡æ‘Ë¡¢÷ÈπÕ¬à“ßµàÕ‡π◊ËÕßµ—Èß·µàªï 2544 §“¥«à“„πªï 2548 ®–¡’°“√ ‡µ‘∫‚µ 10% ´÷Ë߇ªìπ‰ªµ“¡¿“æ√«¡¢ÕßÕ —ßÀ“√‘¡∑√—æ¬å∑’Ë¡’°“√ ª√—∫µ—«Õ¬à“ß¡’¥ÿ≈¬¿“æ ∑—Èßπ’È¿“«–µ≈“¥¢Õß∏ÿ√°‘®∫â“π®—¥ √√ªï 2548 ·¡â«à“¡’°“√ ¢¬“¬µ—«„π¿“æ√«¡ ·µà°Á¡’§«“¡·µ°µà“ß„π·µà≈– à«π ‘π§â“ ‡™àπ °“√™–≈Õµ—«„πµ≈“¥∫â“π√“§“·æßÕ¬à“ßµàÕ‡π◊ËÕß ·µà„πµ≈“¥

∫â“π√“§“√–¥—∫°≈“ß 2 - 4 ≈â“π∫“∑ ´÷Ë߇ªìπ°≈ÿà¡ Real Demand °≈—∫¡’°“√¢¬“¬µ—«Õ¬à“߇ÀÁπ‰¥â™—¥ ·µà ∂“π°“√≥å„πªí®®ÿ∫—π∑’Ë √“§“πÈ”¡—πª√—∫µ—« Ÿß¢÷ÈπÕ¬à“ß¡“° ∑”„Àâµâπ∑ÿπºŸâª√–°Õ∫°“√ Ÿß ¢÷Èπ‡°◊Õ∫∑ÿ°¥â“π àߺ≈µàÕ√“§“∫â“π„πªí®®ÿ∫—π·≈–„πÕπ“§µÕ¬à“ß ‡≈’ˬ߉¡à‰¥â ´÷Ëß®–∑”„À⺟âª√–°Õ∫°“√À—π¡“º≈‘µ ‘π§â“∑’Ë¡’¢π“¥ ‡≈Á°≈߇æ◊ËÕ Õ¥§≈âÕß°—∫°”≈—ß´◊ÈÕ¢Õߪ√–™“™π πÕ°®“°π’È ‚§√ß°“√∑’ËÕ¬ŸàÕ“»—¬®–µâÕß„À⧫“¡ ”§—≠°—∫¢âÕ°ÆÀ¡“¬¢âÕ∫—ߧ—∫ ‚¥¬„π à«π¢Õߺ—߇¡◊Õß√«¡°√ÿ߇∑æ∑’ËÕ“®®–¡’°“√∫—ߧ—∫„™â„πªï 2549 ®– àߺ≈µàÕ°“√°àÕ √â“ß·≈–°“√æ—≤π“°“√„™âæ◊Èπ∑’Ë„π·µà ≈–∑”‡≈ ´÷Ëß¡’¢âÕ°”Àπ¥/¢âÕ∫—ߧ—∫∑’Ë·µ°µà“ß°—π‰ª

µ“√“ß· ¥ß¢âÕ¡Ÿ≈°“√®¥∑–‡∫’¬π∑’ËÕ¬ŸàÕ“»—¬ª√–‡¿∑ √â“߇Õß·≈–ª√–‡¿∑®—¥ √√

ª√–¡“≥°“√ 2537 2538 2539 2540 2541 2542 2543 2544 2545 2546 2547 2548F

ª√–‡¿∑ √â“߇Õß GROWTH [%] ª√–‡¿∑®—¥ √√ GROWTH [%]

35,150 32,118 28,059 27,418 22,716 -4% -9% -13% -2% -17% 136,104 140,301 138,726 117,937 41,148 39% 3% -1% -15% -65%

15,497 -32% 17,885 -57%

18,048 16% 13,964 -22%

19,639 9% 14,384 3%

17,693 -10% 16,342 14%

18,598 5% 31,996 96%

19,859 7% 42,937 34%

24,400 23% 44,600 4%

140,000

117,937

160,000

138,726

136,104

140,301

°“√®¥∑–‡∫’¬π∑’ËÕ¬ŸàÕ“»—¬„π‡¢µ°√ÿ߇∑æœ ·≈–ª√‘¡≥±≈ ªï 2540-2548

120,000

0

2537

20 √“¬ß“πª√–®”ªï 2548 ∫√‘ …— ∑ ≈≈‘ ≈ æ√Á Õ æ‡æÕ√å µ’È ®”°— ¥ (¡À“™π)

2538

2539

2540

2542

2543

2544

2545

ª√–‡¿∑ √â“߇Õß

2546

2547 ª√–‡¿∑®—¥ √√

24,400

42,937

19,859

31,996

18,598

16,342

17,693

14,384

19,639

13,964

18,048

17,885

41,148

2541

15,497

20,000

22,716

27,418

28,059

40,000

32,118

60,000

35,150

80,000

44,600

100,000

2548F


The overview of the housing business in 2005

market, while mid-priced housing in the 2-4 million Baht

indicates continued growth from 2004. From the property

price range – which exhibits real demand – will register

registration statistics in the Bangkok and vicinity area

clear growth. However, the current situation of high oil

category – for non-housing and housing projects - both

prices will cause operators’ costs to increase on almost

types of housing recorded growth over last year. For

every front, which will inevitably affect the price of

housing projects, which have enjoyed sustained growth

housing both in the present and for the future. As a

from 2001, it is estimated that growth in 2005 will reach

result, industry players will build smaller units to meet

10%. This reflects the overall outlook for the property

consumer purchasing power. Projects also need to be

business, with its balanced pace of growth.

mindful of Laws and regulations. The city code for

Although the general perspective of the housing

Bangkok will be enforced in 2006, which will have an

business for 2005 shows growth, there are certain

impact on construction and development in each locale,

differences within each product category. For instance,

with differing regulations and codes for the respective

there will be slowed growth in the high-priced housing

zones.

Table of non-housing and housing project registrations about

1994 1995 1996 1997 1998 1999 2000 2001 2002 2003 2004 2005F Non-housing projects

35,150 32,118 28,059 27,418 22,716 15,497 18,048 19,639 17,693 18,598 19,859 24,400

GROWTH [%]

-4%

Housing projects

-9%

-13%

-2%

-17%

-32%

16%

9%

-10%

5%

7%

23%

136,104 140,301 138,726 117,937 41,148 17,885 13,964 14,384 16,342 31,996 42,937 44,600

GROWTH [%]

39%

3%

-1%

-15%

-65%

-57%

-22%

3%

14%

96%

34%

4%

140,000

117,937

160,000

138,726

136,104

140,301

Table of non-housing and housing project registrations

120,000

0

1994

1995

Non-housing projects

1996

1997

housing projects

1999

2000

2001

2002

2003

2004

24,400

42,937

19,859

31,996

18,598

16,342

17,693

14,384

19,639

13,964

18,048

17,885

41,148

1998

15,497

20,000

22,716

27,418

28,059

40,000

32,118

60,000

35,150

80,000

44,600

100,000

2005F

21 Annual Report 2005 Lalin Property Public Company Limited


° “ √ «‘ ®— ¬ · ≈ – æ— ≤ π “

 ”À√—∫ºŸâª√–°Õ∫°“√∏ÿ√°‘®Õ —ßÀ“√‘¡∑√—æ¬å„πªí®®ÿ∫—π ¡’§«“¡®”‡ªìπÕ¬à“ß¡“°∑’Ë®–µâÕß»÷°…“·≈–«‘®—¬§«“¡µâÕß°“√ ∑’ËÕ¬ŸàÕ“»—¬ (Housing Demand) Õ¬Ÿàµ≈Õ¥‡«≈“ ‡æ◊ËÕ°“√º≈‘µ Õÿª∑“π„À¡à‡¢â“ Ÿàµ≈“¥‰¥â‡À¡“– ¡°—∫§«“¡µâÕß°“√∑’Ë·∑â®√‘ß ‡æ◊ËÕ‰¡à„À⇰‘¥¿“«– Over Supply Õ¬à“ß„πÕ¥’µ ¥â«¬‡Àµÿº≈¥—ß°≈à“« ∫√‘…—∑ ≈≈‘≈ æ√ÁÕæ‡æÕ√åµ’È ®”°—¥ (¡À“™π) ®÷߉¥â„À⧫“¡ ”§—≠°—∫°“√«‘®—¬·≈–æ—≤π“ Õ¬à“ßµàÕ‡π◊ËÕß ∫√‘…—∑œ ‰¥â»÷°…“¿“«–Õÿª∑“π„πµ≈“¥∑’ËÕ¬ŸàÕ“»—¬ √«¡∑—Èß«‘‡§√“–Àåª√‘¡“≥§«“¡µâÕß°“√∑’ËÕ¬ŸàÕ“»—¬æ◊Èπ∞“π ¢Õߪ√–™“°√ ‡æ◊ËÕ»÷°…“∂÷ß°”≈—ß√Õß√—∫ (Capacity) ¢ÕßÕÿª ß§å „π°“√´◊ÈÕ∑’ËÕ¬ŸàÕ“»—¬„π√–∫∫‡»√…∞°‘®

22 √“¬ß“πª√–®”ªï 2548 ∫√‘ …— ∑ ≈≈‘ ≈ æ√Á Õ æ‡æÕ√å µ’È ®”°— ¥ (¡À“™π)

∫¡®. ≈≈‘≈ æ√ÁÕæ‡æÕ√åµ’È ‰¥â»÷°…“·≈–«‘‡§√“–Àå ¿“«– ‡»√…∞°‘®µ≈“¥ ∑—ÈߺŸâª√–°Õ∫°“√√“¬Õ◊Ëπ·≈–ºŸâ∫√‘‚¿§Õ¬à“ß ≈–‡Õ’¬¥ ‡æ◊ËÕ°“√·∫àß à«πµ≈“¥·≈–«“ß°≈ÿà¡≈Ÿ°§â“‡ªÑ“À¡“¬‰¥â Õ¬à“ß∂Ÿ°µâÕß ∑—Èßπ’È¢âÕ¡Ÿ≈®“°°“√«‘®—¬®–™à«¬∑”„Àâ°“√«‘‡§√“–Àå ·≈–°“√«“ß°≈¬ÿ∑∏凪ìπ‰ªÕ¬à“ß∂Ÿ°µâÕß ∫√‘…—∑œ µ√–Àπ—°¥’«à“°“√ µ—¥ ‘π„®´◊ÈÕ¢ÕߺŸâ∫√‘‚¿§¬—ßµâÕߢ÷ÈπÕ¬Ÿà°—∫ªí®®—¬æ‘®“√≥“À≈“¬ ªí®®—¬ Õ“∑‘‡™àπ ™◊ËÕ‡ ’¬ß¢Õß∫√‘…—∑ √“§“ ∑”‡≈ §ÿ≥ ¡∫—µ‘¢Õß  ‘π§â“ ¿“«–‡»√…∞°‘®·≈–Õ—µ√“¥Õ°‡∫’Ȭ ·≈–·√ß®Ÿß„®∑“ß°“√ µ≈“¥‡ªìπµâπ ∫√‘…—∑œ ®÷߉¥â¡’°“√°“√æ—≤π“∫â“π¥â«¬§«“¡µ—Èß„® ‡æ◊ËÕ„Àâ “¡“√∂µÕ∫ πÕߧ«“¡µâÕß°“√∑’ËÀ≈“°À≈“¬∑—Èß„π‡√◊ËÕß §ÿ≥¿“æ·≈–∫√‘°“√°àÕπ-À≈—ß°“√¢“¬ °“√«‘®—¬·≈–æ—≤π“¬—ß  “¡“√∂ √â“ߧ«“¡√«¥‡√Á«„π°“√‡ªî¥‚§√ß°“√·≈–°“√§√Õßµ≈“¥ ‡ªÑ“À¡“¬ µ≈Õ¥®π°“√· «ßÀ“∑”‡≈∑’Ë¡’™àÕß«à“ߢÕßµ≈“¥‡æ◊ËÕ  √â“ß‚Õ°“ ¢Õß∫√‘…—∑œ


Research and development It is vital for property developers in today’s market

Lalin Property Public Co., Ltd. studies and

to study and research housing demand on a continual

analyses the economic scenario, the market, other

basis, in order to create new supply that is truly suited to

operators and consumers in detail. This allows it to

real demand. This is to ensure that a situation of

establish market share and target customer profiles

oversupply does not arise, as in the past.

accurately. The information gained from research

For this reason, Lalin Property Public Company

facilitates analysis and the formulation of strategies more

Limited assigns a high priority to ongoing research and

effectively. The Company is mindful that consumers’

development. The Company therefore evaluates supply

buying decisions are based on several factors, such as the

within the housing market and also analyses the basic

reputation of the company; price; location; product

demand for the population’s residential needs. This helps

characteristics; the economic climate; interest rates; and

determine the capacity of demand for housing purchases

the persuasiveness of marketing activities. The Company

within the economic system.

therefore develops its houses with dedication, to meet diverse needs, whether in terms of quality, as well as both pre-sales and after-sales services. Furthermore, research and development also helps encourage the faster debut of projects and the capture of target markets, including identifying location opportunities for future potential.

23 Annual Report 2005 Lalin Property Public Company Limited


ªí ® ®— ¬ § « “ ¡ ‡  ’Ë ¬ ß

1. ¿“«–‡»√…∞°‘®‚≈°∑’ËÕ“®‰¥âº≈°√–∑∫®“°‡æ‘Ë¡¢÷Èπ¢Õß √“§“πÈ”¡—π ´÷Ëß®–¡’º≈‚¥¬µ√ßµàÕ°“√≈ß∑ÿπ·≈–°“√ ∫√‘‚¿§„π√–∫∫‡»√…∞°‘®∑ÿ°ª√–‡∑» ‚¥¬‡©æ“– πÈ”¡—π‡ªìπµâπ∑ÿπ«—µ∂ÿ¥‘∫∑’Ë ”§—≠¢Õß¿“§°“√°àÕ √â“ß À“°√“§“πÈ”¡—πª√—∫µ—« Ÿß¢÷ÈπÕ¬à“ß√ÿπ·√ß®–∑”„Àâ Õ—µ√“‡ß‘π‡øÑÕ·≈–√“§“«— ¥ÿ°àÕ √â“ߢ¬—∫¢÷ÈπÕ¬à“ß √«¥‡√Á« ª√–°Õ∫°—∫ª√–™“™π®–‰¡à¡’§«“¡‡™◊ËÕ¡—Ëπ„π °“√∫√‘‚¿§ ∑”„Àâ°“√„™â®à“¬„πª√–‡∑»™–≈Õµ—« ∑”„À⇻√…∞°‘®¿“¬„πª√–‡∑»™–≈Õµ—«≈ß ‡¡◊ËÕ√–∫∫ ‡»√…∞°‘®™–≈Õµ—«≈ß °”≈—ß´◊ÈÕ¿“¬„πª√–‡∑»≈¥πâÕ¬ ≈߬àÕ¡ àߺ≈‚¥¬µ√ßµàÕ¿“§Õ —ßÀ“√‘¡∑√—æ¬åÕ¬à“ß ‡≈’ˬ߉¡à‰¥â 2. ·π«‚πâ¡°“√‡æ‘Ë¡¢÷Èπ¢ÕßÕ—µ√“¥Õ°‡∫’Ȭ „π™à«ßÀ≈“¬ ªï∑’˺à“π¡“Õ—µ√“¥Õ°‡∫’Ȭ„π√–∫∫‡»√…∞°‘®¢Õ߉∑¬ Õ¬Ÿà„π√–¥—∫µË”·≈–Õ—µ√“¥Õ°‡∫’ȬµË”°Á‡ªìπªí®®—¬∑’Ë  ”§—≠¡“°∑’Ë°√–µÿâπ¿“§Õ —ßÀ“√‘¡∑√—æ¬å‚¥¬µ√ß  ¿“æ§≈àÕß„πµ≈“¥‡ß‘π∑’Ë≈¥≈ß·≈–Õ—µ√“‡ß‘π‡øÑÕ∑’Ë ‡√àßµ—« Ÿß¢÷Èπ‡ªìπµ—«º≈—°¥—π„Àâ¥Õ°‡∫’Ȭ Ÿß¢÷Èπ º≈®“° °“√‡æ‘Ë¡¢÷Èπ¢ÕßÕ—µ√“¥Õ°‡∫’Ȭ∑’Ë®–‡ªìπ°“√‡æ‘Ë¡¿“√– „π°“√ºàÕπ™”√–¢ÕߺŸâ´◊ÈÕ∫â“π‚¥¬µ√ß Õ“®∑”„Àâ §«“¡µâÕß°“√´◊ÈÕ∑’ËÕ¬ŸàÕ“»—¬™–≈Õµ—«≈ß πÕ°®“°π’È ¥Õ°‡∫’Ȭ∑’Ë Ÿß¢÷Èπ¬—߇ªìπ°“√‡æ‘Ë¡µâπ∑ÿπ ”À√—∫ ºŸâª√–°Õ∫°“√ „π ¿“«–¥—ß°≈à“«ºŸâª√–°Õ∫°“√ µâÕßÀ“·À≈à߇ߑπ∑ÿπ„π√Ÿª·∫∫µà“ßÊ ∑’Ë¡’µâπ∑ÿπµË” ∑’Ë ÿ¥ Õ¬à“߉√°Á¥’À“°¥Õ°‡∫’Ȭ Ÿß¢÷Èπ√–¥—∫ 1 - 1.5% °Á¬—ßÕ¬Ÿà„π√–¥—∫∑’˺Ÿâ∫√‘‚¿§√—∫‰¥â

24 √“¬ß“πª√–®”ªï 2548 ∫√‘ …— ∑ ≈≈‘ ≈ æ√Á Õ æ‡æÕ√å µ’È ®”°— ¥ (¡À“™π)

3. ªí≠À“®“°√“§“«— ¥ÿ°àÕ √â“ß∑’˪√—∫µ—« Ÿß¢÷Èπ ¬—ß§ß‡ªìπ Õÿª √√§∑’Ë ”§—≠¢ÕߺŸâª√–°Õ∫°“√Õ —ßÀ“√‘¡∑√—æ¬å ®“°¿“«–Õ —ßÀ“√‘¡∑√—æ¬å∑’ˇµ‘∫‚µµàÕ‡π◊ËÕßµ—Èß·µàªï 2545-2548 ¡’°“√„™â°”≈—ß°“√º≈‘µ·≈–«— ¥ÿ°àÕ √â“ß ®”π«π¡“° √«¡∑—Èßπ‚¬∫“¬¿“§√—∞„π°“√ √â“ß√–∫∫  “∏“√≥Ÿª‚¿§Õ¬à“ßµàÕ‡π◊ËÕß·≈–√“§“πÈ”¡—π∑’˪√—∫µ—«  Ÿß¢÷Èπ ´÷Ëß ∂“π°“√≥套߰≈à“«∑”„Àâ√“§“«— ¥ÿ°àÕ √â“ß ∫“ߪ√–‡¿∑ª√—∫√“§“ Ÿß¢÷ÈπÕ¬à“ß¡“°  àߺ≈„Àâµâπ∑ÿπ „π°“√º≈‘µ·≈–°“√ª√—∫√“§“∫â“π Ÿß¢÷Èπ ´÷Ëß„πªï 2549 ¿“«–°“√‡æ‘Ë¡¢÷Èπ¢Õß√“§“«— ¥ÿ°àÕ √â“ß®–Õ¬Ÿà„π√–¥—∫ ∑’ˉ¡à Ÿß¡“° ‡π◊ËÕß®“°‰¥â‡æ‘Ë¡¢÷Èπ¡“°·≈â«„πªï 2548 4. °“√§«∫§ÿ¡°“√„Àâ ‘π‡™◊ËÕ∑’ËÕ¬ŸàÕ“»—¬‡ªìπÕ’°§«“¡‡ ’Ë¬ß Àπ÷Ëß∑’Ë ”§—≠ πÕ°®“°·π«‚πâ¡Õ—µ√“¥Õ°‡∫’Ȭ∑’Ë Ÿß¢÷Èπ °“√ª≈àÕ¬ ‘π‡™◊ËÕ„Àâ°—∫ºŸâµâÕß°“√´◊ÈÕ∫â“π¢Õß ∂“∫—π °“√‡ß‘π°Á¡’À≈—°‡°≥±å∑’ˇ¢â¡ß«¥¢÷Èπ πÕ°®“°π’È„π à«π ¢ÕߺŸâª√–°Õ∫°“√°Á‰¥â√—∫º≈°√–∑∫‚¥¬µ√ß®“°À≈—° ‡°≥±å§«“¡‡ ’ˬ߰“√ª≈àÕ¬ ‘π‡™◊ËÕ‡æ◊ËÕæ—≤π“ ‚§√ß°“√ 5. ªí®®—¬¥â“π°“√‡¡◊Õß ‡π◊ËÕß®“°√—∞∫“≈‰¥â∫√‘À“√ ª√–‡∑»¡“§√∫ 6 ªï ´÷Ëß®–µâÕß¡’∑—Èß·π«∑“ß°“√ ∑”ß“π∑’Ë∂Ÿ°µâÕß·≈–¡’ªí≠À“„π∫“ߪ√–°“√ ´÷Ëß®– ∑”„Àâ√—∞∫“≈∫√‘À“√ß“π‰¥â¬“°≈”∫“°¢÷Èπ


Risk factors 1. The global economy may be impacted by rising

3. Problems of rising construction materials

oil prices, which will ultimately have a direct

prices continue to be a major obstacle for

effect on investment and consumption in the

property developers. The sustained growth of

economies of all nations. Oil represents an

the property business between 2002-2005 led to

important raw material in the construction

a significant increase in manufacturing

sector : if oil prices rise sharply, inflation and

capacity and construction materials use. Other

the prices of construction materials will jump

variables were State policies supporting the

dramatically. Consumers will then lose

ongoing construction of infrastructure, as well

consumption confidence, thereby dampening

as spiraling oil prices. Consequently, prices of

domestic spending. At a macro level, the

certain construction material categories

economy will then slow; when this happens,

increased rapidly, in turn leading to higher

domestic purchasing power drops, which has

production costs and higher housing prices.

an adverse and unavoidable consequence on

The forecast for 2006 is that construction

the property sector.

materials prices will not be excessively high,

2. The trend of rising interest rates – for several years, interest rates in the Thai economic

having already risen swiftly in 2005. 4. Controls on credit for housing is another key

system have remained low, which had a direct

risk factor. Apart from the trend of rising

positive impact on boosting the property

interest rates, commercial bank lending

sector. However, a lack of liquidity in the

guidelines for home buyers is becoming

money markets, together with racing inflation,

stricter. In addition, operators have been

made interest rates pick up speed. The rise in

directly affected by credit lending risk for

rates translates into added installment payment

project development.

burdens for house buyers and could depress

5. Political factors also represent risk. Since the

demand for residential housing. Moreover,

current Government has been in power for 6

higher interest rates raise costs for property

years, there is a mix of successful policies and

developers. In this situation, operators are

unresolved problems. This makes its task of

forced to seek sources of funds with lower

managing the country harder as time

costs. However, if interest rates increase within

progresses.

a range of 1-1.5%, consumers will deem this acceptable.

25 Annual Report 2005 Lalin Property Public Company Limited


≈— ° … ≥ – ° “ √ ª √ – ° Õ ∫ ∏ÿ √ °‘ ®

∫√‘…—∑ ≈≈‘≈ æ√ÁÕæ‡æÕ√åµ’È ®”°—¥(¡À“™π) ª√–°Õ∫∏ÿ√°‘® æ—≤π“Õ —ßÀ“√‘¡∑√—æ¬åª√–‡¿∑∫â“π®—¥ √√æ√âÕ¡-∑’Ë¥‘π‡æ◊ËÕ¢“¬ ªí®®ÿ∫—π¡’∑ÿπ®¥∑–‡∫’¬π 925 ≈â“π∫“∑ ( ™”√–‡‡≈â« 825 ≈â“π∫“∑ ) ª√–∏“π°√√¡°“√ π“¬∑«’»—°¥‘Ï «—™√√—§§“«ß»å ª√–∏“π°√√¡°“√∫√‘À“√ 𓬉™¬¬—πµå ™“§√°ÿ≈ °“√¥”‡π‘π ∏ÿ√°‘® ∫√‘…—∑œ ®–‡ªìπºŸâæ—≤𓂧√ß°“√·≈–‡ªìπ‡®â“¢Õß‚§√ß°“√ ∫â“π®—¥ √√µà“ßÊ ‡æ’¬ß∫√‘…—∑‡¥’¬« ‡ªìπºŸâπ”„πµ≈“¥∫â“π√–¥—∫ °≈“ß 2-6 ≈â“π∫“∑ ∫â“π®—¥ √√∑’Ë¢“¬„π·µà≈–‚§√ß°“√®–‡ªìπ ª√–‡¿∑∫â“π‡¥’Ë¬« ∫â“π·Ω¥ (∫â“π·π«§‘¥„À¡à) ·≈–∑“«πå‡Œâ“ å ‡ªìπÀ≈—° ·≈–¡’ª√– ∫°“√≥嬓«π“π°«à“ 18 ªï ∫√‘…—∑œ ®–‡πâπ °“√æ—≤𓂧√ß°“√„π‡¢µ°√ÿ߇∑æ¡À“π§√·≈–ª√‘¡≥±≈

26 √“¬ß“πª√–®”ªï 2548 ∫√‘ …— ∑ ≈≈‘ ≈ æ√Á Õ æ‡æÕ√å µ’È ®”°— ¥ (¡À“™π)

°“√ª√–°Õ∫∏ÿ√°‘®·µà≈–º≈‘µ¿—≥±å

∫√‘…—∑ ≈≈‘≈ æ√ÁÕæ‡æÕ√åµ’È ®”°—¥ (¡À“™π) ¡’°“√¥”‡π‘π ∏ÿ√°‘®‚¥¬‡πâπ∑’˵≈“¥∫â“π®—¥ √√√–¥—∫°≈“ß√“§“µ—Èß·µà 2 - 6 ≈â“π∫“∑ ·≈–¡’°“√·∫àß à«πµ≈“¥°≈ÿà¡≈Ÿ°§â“‡ªÑ“À¡“¬Õ¬à“ß ™—¥‡®π ‚¥¬∂◊Õ«à“°≈ÿà¡≈Ÿ°§â“‡ªÑ“À¡“¬‡ªìπµ≈“¥∑’Ë¡’§«“¡µâÕß°“√ ∑’ËÕ¬ŸàÕ“»—¬Õ¬à“ß·∑â®√‘ß ·≈–‡ªìπµ≈“¥°≈ÿà¡∑’Ë¡’√“¬‰¥âª“π°≈“ß ∑’Ë¡’¢π“¥ª√–™“°√®”π«π¡“° ∫√‘…—∑œ ¡ÿàß¡—Ëπ∑’Ë®–º≈‘µ ‘π§â“‡æ◊ËÕ µÕ∫ πÕߧ«“¡µâÕß°“√¢Õß≈Ÿ°§â“‡ ¡Õ¡“ µ“¡·π«§‘¥∫â“π∑’Ë ª≈Ÿ°∫𧫓¡µâÕß°“√∑’Ë¥’ ¿“¬„µâ™◊ËÕ‚§√ß°“√∑’Ë¡’§«“¡·µ°µà“ß ¢Õß ‘π§â“ §◊Õ ≈≈‘≈ °√’π«‘≈≈å, ∫â“π≈≈‘≈ Õ‘π‡¥Õ–æ“√å§, ∫â“π∫ÿ√’√¡¬å·≈–≈—≈≈’Ë «‘≈≈å ‚¥¬∑’Ë‚§√ß°“√·µà≈–‚§√ß°“√∑’Ë¡’°“√ ‡ªî¥¢“¬®–µ—ÈßÕ¬Ÿà∫√‘‡«≥∑’˧√Õ∫§≈ÿ¡∫√‘‡«≥æ◊Èπ∑’Ë 5 æ◊Èπ∑’Ë ¢Õß°√ÿ߇∑æ¡À“π§√·≈–ª√‘¡≥±≈ ´÷Ë߇ªìπ·π«∑“ß∑’Ë∫√‘…—∑œ ¥”‡π‘π∏ÿ√°‘®µ—Èß·µàµâπ¡“‡ªìπ‡«≈“¡“°°«à“ 18 ªï ·≈–¡’°“√·∫àß æ◊Èπ∑’˵”·Àπàß‚§√ß°“√¥—ßπ’È 1. ‚´π„π‡¡◊Õß 2. ‚´πµ–«—πµ° 3. ‚´πµ–«—πÕÕ° 4. ‚´π‡Àπ◊Õ 5. ‚´π„µâ  ”À√—∫ ¿“«–µ≈“¥∫â“π®—¥ √√„πªí®®ÿ∫—π¡’°“√·¢àߢ—π Ÿß „πæ◊Èπ∑’Ë°√ÿ߇∑æœ ·≈–ª√‘¡≥±≈ ‚¥¬‡©æ“–„π∑”‡≈∑’Ë¥’¡’√–∫∫  “∏“√≥Ÿª‚¿§√Õß√—∫·≈–»—°¬¿“æ„π°“√‡µ‘∫‚µ Ÿß ∫√‘…—∑œ ‰¥â æ—≤𓂧√ß°“√‡æ◊ËÕ√Õß√—∫§«“¡µâÕß°“√∑’ËÕ¬ŸàÕ“»—¬¢ÕߺŸâ∫√‘‚¿§ „π∫√‘‡«≥∑’ˇ¢“µâÕß°“√ ·≈–欓¬“¡„Àâ™◊ËÕ ≈≈‘≈ æ√ÁÕæ‡æÕ√åµ’È ‡ªìπ∑’Ë√Ÿâ®—°Õ¬à“ß°«â“ߢ«“ß ´÷Ëß∫√‘…—∑œ ¡’®ÿ¥¡ÿàßÀ¡“¬ √â“ߧ«“¡ √—∫√Ÿâ„πµ√“ ‘π§â“„Àâ°—∫ºŸâ∫√‘‚¿§∑’˵âÕß°“√´◊ÈÕ∫â“π ∫√‘…—∑œ ‰¥â  √â“ß∑“߇≈◊Õ°„Àâ°—∫ºŸâ∫√‘‚¿§‡≈◊Õ°´◊ÈÕ∫â“π„π‚§√ß°“√‰¥â 3 ª√–‡¿∑ §◊Õ ∫â“πæ√âÕ¡¢“¬ ∫â“π √â“ß°àÕπ¢“¬ ·≈–∫â“π —Ëß √â“ß ´÷Ëß·π«∑“ß·≈–√Ÿª·∫∫°“√¥”‡π‘π∏ÿ√°‘®¢Õß∫√‘…—∑œ  “¡“√∂µÕ∫  πÕߧ«“¡µâÕß°“√·≈– √â“ߧ«“¡¡—Ëπ„®¢Õß≈Ÿ°§â“‰¥â‡ªìπÕ¬à“ߥ’


Business operations The primary business of Lalin Property Public

demand, with project names that underline the unique

Company Limited is the property development of

differences of each product, whether it be Lalin Green-

residential housing with land, for sale. The Company

Ville, Baan Lalin In The Park, Baan Burirom, or Lully

currently has registered capital of 925 million Baht

Ville. Each project available for purchase is located

(with paid-up capital of 825 million Baht). The position

within 5 designated areas of Bangkok and adjacent areas

of Chairman is held by Mr. Taveesak Watcharakkawong

in line with its concept since its inception more than 18

and that of & Managing Director by Mr. Chaiyan

years previously. The projects are located within the

Chakarakul. The Company is the sole developer and

following zones :

owner of various residential housing projects 18 years

1.

Inner city zone

ago. It is the market leader for mid-range housing priced

2.

Western zone

in the 2-6 million Baht category. Houses sold in its

3.

Eastern zone

projects are single detached units, semi-detached units

4.

Northern zone

(new concept houses) and townhouses. The Company

5.

Southern zone

focuses on the development of projects within the

The current competitive situation within the

Bangkok metropolis and Greater Bangkok areas.

Business operations by product categories Lalin Property Public Company Limited’s

residential housing market is intense in almost all areas of Bangkok and its outskirts, particularly in locations with good infrastructure and high growth potential. The Company develops and strives to create projects in

business operations focus on the mid-priced housing

areas that consumers prefer and has made every effort to

project market. Its product offerings are in the 2-6 million

ensure that the Lalin Property name is widely recognised

Baht range. The Company has clearly identifies its target

and enjoys awareness amongst consumers seeking to

customer segment, confident that the market profile

purchase housing. The Company offers 3 choices for

exhibits real demand for housing. Furthermore, the

consumers under its projects, that is housing with land,

mid-income consumer market group represents a sizeable

housing built before selling, and housing built to order.

proportion of the population. The Company consistently

This business approach has allowed the Company to

concentrates on producing products that truly meet

meet the needs of its customers and earn their

consumer needs. Its housing concepts are built on solid

confidence.

27 Annual Report 2005 Lalin Property Public Company Limited


‚§√ß°“√„πÕ𓧵

∫√‘…—∑ ≈≈‘≈ æ√ÁÕæ‡æÕ√åµ’È ®”°—¥ (¡À“™π) ¡’·π«∑“ß°“√¥”‡π‘π°“√‡ªî¥¢“¬‚§√ß°“√„À¡àÕ¬à“ßπâÕ¬ 3 - 4 ‚§√ß°“√µàÕªï „π∑”‡≈∑’Ë¡’»—°¬¿“æ„π°“√‡µ‘∫‚µ Ÿß ‚¥¬„πªï 2549 ∫√‘…—∑œ ¡’·ºπ∑’Ë®–‡ªî¥‚§√ß°“√„À¡à 5 ‚§√ß°“√ ‚¥¬¬—ߧߡ’§«“¡À≈“°À≈“¬ ¢Õß ‘π§â“ ∑—Èß∫â“π‡¥’Ë¬« ∫â“π·π«§‘¥„À¡à ·≈–∑“«πå‡Œâ“ å „π√–¥—∫√“§“ 2 - 4 ≈â“π∫“∑ ¡Ÿ≈§à“‚§√ß°“√‰¡àµË”°«à“ 4,050 ≈â“π∫“∑ ·≈–¡’‚§√ß°“√‡°à“∑’ˬ—ߥ”‡π‘πÕ¬ŸàµàÕ‡π◊ËÕßÕ’° 21 ‚§√ß°“√ ‚¥¬¡’ß∫ª√–¡“≥„π°“√´◊ÈÕ∑’Ë¥‘π‡æ‘Ë¡ 700 - 1,000 ≈â“π∫“∑ ∑”„Àâ∫√‘…—∑œ ¡’¬Õ¥¢“¬·≈–°“√√—∫√Ÿâ√“¬‰¥â„πÕπ“§µÕ¬à“ßµàÕ‡π◊ËÕß

28 √“¬ß“πª√–®”ªï 2548 ∫√‘ …— ∑ ≈≈‘ ≈ æ√Á Õ æ‡æÕ√å µ’È ®”°— ¥ (¡À“™π)


Future Plans

Lalin Property Public Company Limited plans to launch at least 3-4 new projects each year in locations with good growth potential. In 2006, the Company aims to introduce 5 new projects, offering a wide variety of products, from detached houses to new concept homes and townhouses in the 2-4 million Baht price range. The combined project value will not be less than 4,050 million Baht. The Company also has 21 existing projects. A budget for land acquisition has been allocated at 700-1,000 million Baht. As a result, the Company will continue to realise sales and revenues well into the future.

29 Annual Report 2005 Lalin Property Public Company Limited


‚ § √ ß   √â “ ß ° “ √ ®— ¥ ° “ √ ‚§√ß √â“ß°“√®—¥°“√¢Õß∫√‘…—∑œ ª√–°Õ∫¥â«¬§≥–°√√¡°“√∑—ÈßÀ¡¥ 3 ™ÿ¥ §◊Õ §≥–°√√¡°“√∫√‘…—∑ §≥–°√√¡°“√µ√«® Õ∫ ·≈–§≥–°√√¡°“√∫√‘À“√ ¥—ß√“¬≈–‡Õ’¬¥µàÕ‰ªπ’È §≥–°√√¡°“√∫√‘…—∑

≥ «—π∑’Ë 31 ∏—𫓧¡ 2548 ∫√‘…—∑œ ¡’°√√¡°“√∑—ÈßÀ¡¥®”π«π 8 ∑à“π ¥—ßπ’È 1) π“¬∑«’»—°¥‘Ï «—™√√—§§“«ß»å ª√–∏“π°√√¡°“√ 2) 𓬉™¬¬—πµå ™“§√°ÿ≈ °√√¡°“√ ·≈–°√√¡°“√ºŸâ®—¥°“√ 3) 𓬠ÿ«√√≥ ·∑π ∂‘µ¬å °√√¡°“√Õ‘ √– 4) π“¬π‘æ—∑∏å ®‘µ√ª√– ß§å °√√¡°“√Õ‘ √– 5) 𓬠ÿ√π—π∑å «ß»å«‘∑¬°”®√ °√√¡°“√Õ‘ √– 6) 𓬉æ∫Ÿ≈¬å Õÿ¥¡°“πµå°‘® °√√¡°“√ 7) 𓬙Ÿ™’æ ¥‘…∞几∂’¬√ °√√¡°“√ 8) π“¬≥—∞  ßà“ ß‡§√“–Àå °√√¡°“√·≈–‡≈¢“πÿ°“√∫√‘…—∑œ §≥–°√√¡°“√µ√«® Õ∫

§≥–°√√¡°“√µ√«® Õ∫®”π«π 3 ∑à“π ª√–°Õ∫¥â«¬ 1) 𓬠ÿ«√√≥ ·∑π ∂‘µ¬å ª√–∏“π°√√¡°“√µ√«® Õ∫ 2) π“¬π‘æ—∑∏å ®‘µ√ª√– ß§å °√√¡°“√µ√«® Õ∫ 3) 𓬠ÿ√π—π∑å «ß»å«‘∑¬°”®√ °√√¡°“√µ√«® Õ∫ §≥–°√√¡°“√∫√‘À“√

§≥–°√√¡°“√∫√‘À“√®”π«π 4 ∑à“π ª√–°Õ∫¥â«¬ 1) 𓬉™¬¬—πµå ™“§√°ÿ≈ ª√–∏“π°√√¡°“√∫√‘À“√ 2) π“¬≥—∞  ßà“ ß‡§√“–Àå °√√¡°“√∫√‘À“√ 3) 𓬉æ∫Ÿ≈¬å Õÿ¥¡°“πµå°‘® °√√¡°“√∫√‘À“√ 4) 𓬙Ÿ™’æ ¥‘…∞几∂’¬√ °√√¡°“√∫√‘À“√ §≥–ºŸâ∫√‘À“√∫√‘…—∑

≥ «—π∑’Ë 31 ∏—𫓧¡ 2548 ∫√‘…—∑œ ¡’ºŸâ∫√‘À“√®”π«π 5 ∑à“π ¥—ßπ’È 1) 𓬉™¬¬—πµå ™“§√°ÿ≈ °√√¡°“√ºŸâ®—¥°“√ 2) π“¬≥—∞  ßà“ ß‡§√“–Àå ºŸâ™à«¬°√√¡°“√ºŸâ®—¥°“√  “¬ß“π∫√‘À“√ ‚§√ß°“√ ∫—≠™’ ·≈–∫ÿ§≈“°√ 3) 𓬉æ∫Ÿ≈¬å Õÿ¥¡°“πµå°‘® ºŸâ™à«¬°√√¡°“√ºŸâ®—¥°“√  “¬°“√‡ß‘π·≈–π—°≈ß∑ÿπ —¡æ—π∏å 4) 𓬙Ÿ™’æ ¥‘…∞几∂’¬√ ºŸâ™à«¬°√√¡°“√ºŸâ®—¥°“√  “¬∫√‘À“√ß“π°àÕ √â“ß‚§√ß°“√ 5) π“¬≥√ß§å  ßà“ ß‡§√“–Àå ºŸâ®—¥°“√Õ“«ÿ‚   “¬∫√‘À“√ß“π°àÕ √â“ß‚§√ß°“√

30 √“¬ß“πª√–®”ªï 2548 ∫√‘ …— ∑ ≈≈‘ ≈ æ√Á Õ æ‡æÕ√å µ’È ®”°— ¥ (¡À“™π)


Management Structure Management Organization consists of The Board of Directors, The Audit Committee and The Executive Board. The details of which are as follows:

The Board of Director As of December 31, 2005. Consists of 8 members: 1)

Mr. Taveesak Watcharakkawong

Chairman

2)

Mr. Chaiyan

Chakarakul

Director and Managing Director

3)

Mr. Suvarn

Thansathit

Independent Director

4)

Mr. Niputh

Jitprasonk

Independent Director

5)

Mr. Suranan

Wongvithayakamjorn

Independent Director

6)

Mr. Paiboon

Udomkarnkit

Director

7)

Mr. Chucheep Ditsathien

Director

8)

Mr. Nat

Director & Companys Executive Secretary

Sangarsongkogk

The Audit Committee Consists of 3 members: 1)

Mr. Suvarn

Thansathit

Chairman of The Audit Committee

2)

Mr. Niputh

Jitprasonk

Member of The Audit Committee

3)

Mr. Suranan

Wongvithayakamjorn

Member of The Audit Committee

The Executive Board Consists of 4 members : 1)

Mr. Chaiyan

Chakarakul

Chief Executive Officer

2)

Mr. Nat

Sangarsongkogk

Executive Director

3)

Mr. Paiboon

Udomkarnkit

Executive Director

4)

Mr. Chucheep Ditsathien

Executive Director

The Management Board As of December 31, 2005. Consists of 5 members: 1)

Mr. Chaiyan

Chakarakul

Managing Director

2)

Mr. Nat

Sangarsongkogk

Assistant Managing Director

3)

Mr. Paiboon

Udomkarnkit

Assistant Managing Director

4)

Mr. Chucheep Ditsathien

Assistant Managing Director

5)

Mr. Narong

Senior Project Construction Manager

Sangarsongkogk

31 Annual Report 2005 Lalin Property Public Company Limited


· º π ¿Ÿ ¡‘ ‚ § √ ß   √â “ ß ° “ √ ®— ¥ ° “ √

Organization Chart

§ÿ≥≥—∞  ßà“ ß‡§√“–Àå

§ÿ≥™Ÿ™’æ ¥‘…∞几∂’¬√

Mr. Nat Sangarsongkogk

Mr. Chucheep Ditsathien

Assistance Managing Director [Project Management]

Assistance Managing Director [Construction Management]

ΩÉ“¬ª√– “πß“π·≈–√“™°“√°ØÀ¡“¬ Goverment & Legal Administration Department

ΩÉ“¬∫√‘À“√‚§√ß°“√ (°àÕ √â“ß) Project Construction Department

ΩÉ“¬®—¥´◊ÈÕ®—¥®â“ß Purchase Department

‚§√ß°“√°àÕ √â“ß ‚´π 1 Project Construction Zone 1

ΩÉ“¬∫√‘À“√‚§√ß°“√ (∫√‘À“√) Project Administration Department

‚§√ß°“√°àÕ √â“ß ‚´π 2 Project Construction Zone 2

ºŸâ™à«¬°√√¡°“√ºŸâ®—¥°“√ [ “¬ß“π∫√‘À“√‚§√ß°“√]

∫√‘À“√‚§√ß°“√ ‚´π 1 Project Administration Zone 1 ∫√‘À“√‚§√ß°“√ ‚´π 2 Project Administration Zone 2 ∫√‘À“√‚§√ß°“√ ‚´π 3 Project Administration Zone 3 ∫√‘À“√‚§√ß°“√ ‚´π 4 Project Administration Zone 4 ∫√‘À“√‚§√ß°“√ ‚´π 5 Project Administration Zone 5

32 √“¬ß“πª√–®”ªï 2548 ∫√‘ …— ∑ ≈≈‘ ≈ æ√Á Õ æ‡æÕ√å µ’È ®”°— ¥ (¡À“™π)

ºŸâ™à«¬°√√¡°“√ºŸâ®—¥°“√ [ “¬ß“π°àÕ √â“ß]

‚§√ß°“√°àÕ √â“ß ‚´π 3 Project Construction Zone 3 ‚§√ß°“√°àÕ √â“ß ‚´π 4 Project Construction Zone 4 ‚§√ß°“√°àÕ √â“ß ‚´π 5 Project Construction Zone 5


§≥–°√√¡°“√∫√‘…—∑ Board of Directors

§≥–°√√¡°“√µ√«® Õ∫ Audit Committee

§≥–°√√¡°“√∫√‘À“√ Executive Board

ΩÉ“¬µ√«® Õ∫¿“¬„π Internal Audit Department

§ÿ≥‰™¬¬—πµå ™“§√°ÿ≈ °√√¡°“√ºŸâ®—¥°“√ Mr. Chaiyan Chakarakul Managing Director ΩÉ“¬°“√µ≈“¥·≈–æ—≤π“∏ÿ√°‘® Marketing & Business Development Department

§ÿ≥‰æ∫Ÿ≈¬å Õÿ¥¡°“πµå°‘® ºŸâ™à«¬°√√¡°“√ºŸâ®—¥°“√ [ “¬ß“π°“√‡ß‘π·≈–π—°≈ß∑ÿπ —¡æ—π∏å]

Mr. Paiboon Udomkarnkit Assistance Managing Director [Finance and Investors Relationship]

ΩÉ“¬°“√‡ß‘π Fianance Department ΩÉ“¬∑√—欓°√¡πÿ…¬å Human Resource Department ΩÉ“¬∫—≠™’ Accounting Department

33 Annual Report 2005 Lalin Property Public Company Limited


‚ § √ ß   √â “ ß ° “ √ ®— ¥ ° “ √ ( µà Õ )

¢Õ∫‡¢µÕ”π“®Àπâ“∑’Ë¢Õߧ≥–°√√¡°“√µ√«® Õ∫

§≥–°√√¡°“√µ√«® Õ∫ ¡’Õ”π“®Àπâ“∑’Ë¥—ßπ’È (1)  Õ∫∑“π„Àâ∫√‘…—∑œ ¡’°“√√“¬ß“π∑“ß°“√‡ß‘πÕ¬à“ß∂Ÿ°µâÕß·≈–‡ªî¥‡º¬‡æ’¬ßæÕ ‚¥¬°“√ª√– “πß“π°—∫ºŸâ Õ∫∫—≠™’·≈– ºŸâ∫√‘À“√∑’Ë√—∫º‘¥™Õ∫®—¥∑”√“¬ß“π∑“ß°“√‡ß‘π∑—Èß√“¬‰µ√¡“ ·≈–ª√–®”ªï §≥–°√√¡°“√°“√µ√«® Õ∫Õ“®‡ πÕ·π–„Àâ ºŸâ Õ∫∫—≠™’ Õ∫∑“πÀ√◊Õµ√«® Õ∫√“¬°“√„¥Ê ∑’ˇÀÁπ«à“‡ªìπ‡√◊ËÕß ”§—≠ „π√–À«à“ß°“√µ√«® Õ∫∫—≠™’¢Õß∫√‘…—∑œ °Á‰¥â (2)  Õ∫∑“π„Àâ∫√‘…—∑œ ¡’√–∫∫§«∫§ÿ¡¿“¬„π·≈–°“√µ√«® Õ∫¿“¬„π∑’Ë¡’§«“¡‡À¡“– ¡·≈–¡’ª√– ‘∑∏‘º≈ ‚¥¬ Õ∫∑“π√à«¡ °—∫ºŸâ Õ∫∫—≠™’ (3)  Õ∫∑“π°“√ªØ‘∫—µ‘ß“π¢Õß∫√‘…—∑œ „À⇪ìπ‰ªµ“¡°ÆÀ¡“¬«à“¥â«¬À≈—°∑√—æ¬å·≈–µ≈“¥À≈—°∑√—æ¬å ¢âÕ°”Àπ¥¢Õß µ≈“¥À≈—°∑√—æ¬å À√◊Õ°ÆÀ¡“¬∑’ˇ°’ˬ«¢âÕß°—∫∏ÿ√°‘®¢Õß∫√‘…—∑œ (4) æ‘®“√≥“§—¥‡≈◊Õ°·≈–‡ πÕ·µàßµ—ÈߺŸâ Õ∫∫—≠™’¢Õß∫√‘…—∑œ √«¡∂÷ßæ‘®“√≥“‡ πÕ§à“µÕ∫·∑π¢ÕߺŸâ Õ∫∫—≠™’ ‚¥¬§”π÷ß∂÷ß §«“¡πà“‡™◊ËÕ∂◊Õ §«“¡‡æ’¬ßæÕ¢Õß∑√—欓°√ ·≈–ª√‘¡“≥ß“πµ√«® Õ∫¢Õß ”π—°ß“π Õ∫∫—≠™’π—Èπ √«¡∂÷ߪ√– ∫°“√≥å ∫ÿ§§≈“°√∑’ˉ¥â√—∫¡Õ∫À¡“¬„Àâ∑”°“√µ√«® Õ∫∫—≠™’¢Õß∫√‘…—∑ (5) æ‘®“√≥“‡ªî¥‡º¬¢âÕ¡Ÿ≈¢Õß∫√‘…—∑œ „π°√≥’∑’ˇ°‘¥√“¬°“√‡°’ˬ«‚¬ßÀ√◊Õ√“¬°“√∑’ËÕ“®¡’§«“¡¢—¥·¬âß∑“ߺ≈ª√–‚¬™πå„Àâ¡’ §«“¡∂Ÿ°µâÕߧ√∫∂â«π (6) ªØ‘∫—µ‘°“√Õ◊Ëπ„¥µ“¡∑’˧≥–°√√¡°“√∫√‘…—∑œ ¡Õ∫À¡“¬·≈–§≥–°√√¡°“√µ√«® Õ∫‡ÀÁπ™Õ∫¥â«¬ ‡™àπ °“√∑∫∑«π π‚¬∫“¬°“√∫√‘À“√∑“ß°“√‡ß‘π·≈–∫√‘À“√§«“¡‡ ’Ë¬ß ∑∫∑«π°“√ªØ‘∫—µ‘µ“¡®√√¬“∫√√≥∑“ß∏ÿ√°‘®¢ÕߺŸâ∫√‘À“√ ∑∫∑«π √à«¡°—∫ºŸâ∫√‘À“√¢Õß∫√‘…—∑„π√“¬ß“𠔧—≠Ê ∑’˵âÕ߇ πÕµàÕ “∏“√≥™π µ“¡°ÆÀ¡“¬°”Àπ¥‰¥â·°à ∫∑√“¬ß“π·≈–°“√ «‘‡§√“–Àå¢ÕßΩÉ“¬∫√‘À“√ ‡ªìπµâπ °“√ √√À“°√√¡°“√·≈–ºŸâ∫√‘À“√

°√√¡°“√∫√‘À“√·≈–ºŸâ∫√‘À“√¡“®“°°“√§—¥‡≈◊Õ°‚¥¬∑’˪√–™ÿ¡§≥–°√√¡°“√∫√‘…—∑œ ‚¥¬‰¡àºà“π§≥–°√√¡°“√ √√À“ ‡π◊ËÕß®“° „πªí®®ÿ∫—π∫√‘…—∑œ ¬—߉¡à¡’§≥–°√√¡°“√ √√À“ Õ¬à“߉√°Áµ“¡ §≥–°√√¡°“√∫√‘…—∑œ ®–æ‘®“√≥“§—¥ √√∫ÿ§§≈ºŸâ¡’§ÿ≥«ÿ≤‘ §«“¡√Ÿâ §«“¡  “¡“√∂ ·≈–ª√– ∫°“√≥å°“√∑”ß“π∑’ˇ°’ˬ«¢âÕß √«¡∑—Èß¡’§ÿ≥ ¡∫—µ‘µ“¡¡“µ√“ 68 ·Ààßæ√–√“™∫—≠≠—µ‘∫√‘…—∑¡À“™π®”°—¥ æ.». 2535 ·≈–µ“¡ª√–°“»§≥–°√√¡°“√°”°—∫À≈—°∑√—æ¬å·≈–µ≈“¥À≈—°∑√—æ¬å∑’ˇ°’ˬ«¢âÕß ‡æ◊ËÕª√–‚¬™πåµàÕ°“√¥”‡π‘πß“π¢Õß∫√‘…—∑œ „Àâ¡’ ª√– ‘∑∏‘¿“æ „π°“√‡≈◊Õ°µ—Èߧ≥–°√√¡°“√∫√‘…—∑œ ®–°√–∑”‚¥¬∑’˪√–™ÿ¡ºŸâ∂◊ÕÀÿâ𠵓¡À≈—°‡°≥±å·≈–«‘∏’°“√¥—ßµàÕ‰ªπ’È (1) ºŸâ∂◊ÕÀÿâπ§πÀπ÷Ëß¡’§–·ππ‡ ’¬ß‡∑à“°—∫Àπ÷ËßÀÿâπµàÕÀπ÷Ë߇ ’¬ß (2) ºŸâ∂◊ÕÀÿâπ·µà≈–§π®–µâÕß„™â§–·ππ‡ ’¬ß∑’Ë¡’Õ¬Ÿà∑—ÈßÀ¡¥µ“¡ (1) ‡≈◊Õ°µ—Èß∫ÿ§§≈À√◊ÕÀ≈“¬§π‡ªìπ°√√¡°“√°Á‰¥â ·µà®–·∫àß §–·ππ‡ ’¬ß„Àⷰຟ℥¡“°πâÕ¬‡æ’¬ß„¥‰¡à‰¥â (3) ∫ÿ§§≈´÷Ë߉¥â√—∫§–·ππ‡ ’¬ß Ÿß ÿ¥µ“¡≈”¥—∫≈ß¡“ ‡ªìπºŸâ‰¥â√—∫°“√‡≈◊Õ°µ—È߇ªìπ°√√¡°“√‡∑à“®”π«π°√√¡°“√∑’Ë®–æ÷ß¡’À√◊Õ æ÷߇≈◊Õ°‰¥â„π§√—Èßπ—Èπ „π°√≥’∑’Ë∫ÿ§§≈´÷Ë߉¥â√—∫°“√‡≈◊Õ°µ—Èß„π≈”¥—∫∂—¥≈ß¡“¡’§–·ππ‡ ’¬ß‡∑à“°—π‡°‘π®”π«π°√√¡°“√∑’Ëæ÷ß¡’ À√◊Õæ÷߇≈◊Õ°µ—Èß„π§√—Èßπ—Èπ „À⺟⇪ìπª√–∏“π‡ªìπºŸâÕÕ°‡ ’¬ß™’È¢“¥

34 √“¬ß“πª√–®”ªï 2548 ∫√‘ …— ∑ ≈≈‘ ≈ æ√Á Õ æ‡æÕ√å µ’È ®”°— ¥ (¡À“™π)


Management Structure (Continue) Scope of the Audit Committees Responsibilities Scope of duties and responsibilities (1) Ensure that the company maintain accuracy and sufficient disclosure of financial statements. (2) Ensure that there is sufficient and efficient internal control and internal audit, by reviewing with the auditor. (3) Ensure that the company performs in accordance with the securities and exchange laws, regulations of The Stock Exchange of Thailand, and law concerning the business of the company. (4) Consider, select, and appoint the Auditor including the consideration of the auditors remuneration package. (5) Consider the disclosure of the company information for related transactions that may have conflict of interest with highly concern. (6) Any other matters assigned by the Board of Directors and approved by the Audit Committee.

Selection of the New Committees and Directors. In the absence of the Selection Committee presently, any vacancies of Executive Committee and Director positions shall be selected and approved by the Board of committee meeting. The Board shall consider any qualified applicant/s through their knowledges, capabilities and related experiences including some specific qualifications to meet both the Public Company Law, 1992, section 68, and the SET’S regulations as far as the public company’s operation is concerned. Voting criterias in the General Shareholder meeting are as follows: (1) Each shareholder has one voting point per one stock owned. (2) Each shareholder is not allowed to make and a locations of his/her voting points to favor any other one-else but allowed only to vote any one/group prefered with the whole voting right as owned as indicated in [1]. (3) Number of candidates with respective highest points gained shall be appointed to fulfill the vacancies. If any equal points happened, the Chairman of the meeting shall have the right to decide.

35 Annual Report 2005 Lalin Property Public Company Limited


‚ § √ ß   √â “ ß ° “ √ ®— ¥ ° “ √

§à“µÕ∫·∑πºŸâ∫√‘À“√

§à“µÕ∫·∑π‡ªìπµ—«‡ß‘π ªï 2548 √“¬°“√

®”π«π (∑à“π)

®”π«π‡ß‘π (≈â“π∫“∑)

°√√¡°“√ (∞“π–°√√¡°“√)

8

1.05 (°√√¡°“√Õ‘ √– 3 §π)

°√√¡°“√·≈–ºŸâ∫√‘À“√ (∞“π–ºŸâ∫√‘À“√)

5

18.87

√“¬≈–‡Õ’¬¥§à“µÕ∫·∑π

‰¡à¡’ ‡ß‘π‡¥◊Õπ·≈–‚∫π— 

„πªï 2548 §à“µÕ∫·∑π√«¡¢Õß°√√¡°“√Õ‘ √– 3 ∑à“𠧑¥‡ªìπ®”π«π‡ß‘π∑—Èß ‘Èπ 1.05 ≈â“π∫“∑ ‡ªìπ§à“µÕ∫·∑π„π√Ÿª¢Õß ∫”‡ÀπÁ®·≈–‡∫’Ȭª√–™ÿ¡°√√¡°“√  à«π°√√¡°“√∑’ˇÀ≈◊Õ®”π«π 5 ∑à“𠉥â√—∫§à“µÕ∫·∑π‡ªìπ®”π«π‡ß‘π ∑—Èß ‘Èπ 18.87 ≈â“π∫“∑ „π∞“π–∑’ˇªìπºŸâ∫√‘À“√√–¥—∫ Ÿß¢Õß∫√‘…—∑ §à“µÕ∫·∑πÕ◊Ëπ -‰¡à¡-’ °“√°”°—∫¥Ÿ·≈°‘®°“√

§≥–°√√¡°“√‡¢â“„®∫∑∫“∑ Àπâ“∑’Ë §«“¡√—∫º‘¥™Õ∫¢Õߧ≥–°√√¡°“√∑’Ë¡’µàÕ∫√‘…—∑œ ·≈–ºŸâ∂◊ÕÀÿâπ ·≈–‰¥âªØ‘∫—µ‘µ“¡¢âÕæ÷ß ªØ‘∫—µ‘ ”À√—∫°√√¡°“√∫√‘…—∑®¥∑–‡∫’¬π∑’ˇªìπ‰ªµ“¡·π«∑“ߢÕßµ≈“¥À≈—°∑√—æ¬å·Ààߪ√–‡∑»‰∑¬ ‰¡à«à“®–‡ªìπ°“√°”Àπ¥„Àâ¡’°“√ ‡ªî¥‡º¬¢âÕ¡Ÿ≈ “√ π‡∑»µàÕπ—°≈ß∑ÿπ À√◊Õ°“√¢ÕÕπÿ¡—µ‘∑’˪√–™ÿ¡§≥–°√√¡°“√„π°“√‡¢â“∑”√“¬°“√µà“ßÊ ¢Õß∫√‘…—∑œ Õ¬à“߉√°Áµ“¡ §≥–°√√¡°“√¬—ß¡‘‰¥âªØ‘∫—µ‘„π‡√◊ËÕß°“√æ‘®“√≥“·µàßµ—Èߧ≥–°√√¡°“√ √√À“ (Nominating Committee) ·≈–§≥–°√√¡°“√°”Àπ¥§à“ µÕ∫·∑π°√√¡°“√ (Remuneration Committee) ‡π◊ËÕß®“°‚§√ß √â“ßÕߧå°√‰¡à´—∫´âÕπ ·µà‰¥â¡’°“√æ‘®“√≥“·µàßµ—Èߧ≥–°√√¡°“√ µ√«® Õ∫ (Audit Committee) ‡æ◊Ëՙ૬¥Ÿ·≈√–∫∫°“√§«∫§ÿ¡¿“¬„π„À⇪ìπ‰ªµ“¡∫∑∫“∑Àπâ“∑’Ë∑’Ë°”Àπ¥

36 √“¬ß“πª√–®”ªï 2548 ∫√‘ …— ∑ ≈≈‘ ≈ æ√Á Õ æ‡æÕ√å µ’È ®”°— ¥ (¡À“™π)


Management Structure Remuneration of the Board of Directors of the Company 2005 Description

Number of persons

Amount (Million Baht)

Details

Committee

8

1.05

None

(3 Independent Committee) Director and Executive

5

18.87

Salary and Bonus

The remuneration of the Company’s Directors in 2005 consists of that for the 3 Audit Committee Member, which totaled 1.05 Million Baht for being reward and meeting allowance. The remaining 5 directors received remuneration which totaled 18.87 Million Baht as the Company’s high-raking executives. Other Remunerations. -None-

Coporate Governance The Board of Committee have realized its roles, duties and responsibilities, as authorized by Company and Shareholders. The Committee have fully followed all standard practices specified by the Stock Exchange of Thailand as for as the Public Company operation is concerned, such as transparent related information provided to investors, or seeking approval of some specific issues through the Committee meeting as required. However, the appointments of both Nominating Committee and remuneration Committee still be pending as the Company organization on structure is not so complex. However, the Audit Committee has already been appointed to help manage the internal control areas as required.

37 Annual Report 2005 Lalin Property Public Company Limited


‚ § √ ß   √â “ ß ° “ √ ®— ¥ ° “ √

°“√¥Ÿ·≈‡√◊ËÕß°“√„™â¢âÕ¡Ÿ≈¿“¬„π

∫√‘…—∑œ ¡’π‚¬∫“¬Àâ“¡°√√¡°“√·≈–ºŸâ∫√‘À“√„™â¢âÕ¡Ÿ≈¿“¬„π∑’Ë¡’ “√– ”§—≠¢Õß∫√‘…—∑œ ´÷Ë߬—߉¡à‰¥â‡ªî¥‡º¬µàÕ “∏“√≥™π‡æ◊ËÕ ª√–‚¬™πåµàÕµπ‡ÕßÀ√◊ÕºŸâÕ◊Ëπ √«¡∂÷ß°“√´◊ÈÕ¢“¬À≈—°∑√—æ¬å¢Õß∫√‘…—∑œ ‚¥¬¡’«‘∏’°“√¥Ÿ·≈ºŸâ∫√‘À“√„π°“√π”¢âÕ¡Ÿ≈¿“¬„π¢Õß∫√‘…—∑œ ‰ª „™â‡æ◊ËÕª√–‚¬™πå à«πµπÀ√◊ÕºŸâÕ◊Ëπ ¥—ßπ’È (1) ¥”‡π‘π°“√·®âߺŸâ∫√‘À“√„πΩÉ“¬µà“ßÊ „À⇢Ⓞ®∂÷ß¿“√–Àπâ“∑’Ë„π°“√√“¬ß“π°“√∂◊ÕÀ≈—°∑√—æ¬å„π∫√‘…—∑œ ¢Õßµπ‡Õß §Ÿà ¡√  ·≈–∫ÿµ√∑’ˬ—߉¡à∫√√≈ÿ𑵑¿“«– µ≈Õ¥®π√“¬ß“π°“√‡ª≈’ˬπ·ª≈ß°“√∂◊ÕÀ≈—°∑√—æ¬å µ“¡¡“µ√“ 59 ·≈–∫∑°”Àπ¥‚∑…µ“¡ ¡“µ√“ 275 ·Ààßæ√–√“™∫—≠≠—µ‘À≈—°∑√—æ¬å·≈–µ≈“¥À≈—°∑√—æ¬å æ.». 2535 (2) ¥”‡π‘π°“√ àßÀπ—ß ◊Õ‡«’¬π·®âß„À⺟â∫√‘À“√∑√“∫«à“ ºŸâ∫√‘À“√∑’ˉ¥â√—∫∑√“∫¢âÕ¡Ÿ≈¿“¬„π∑’ˇªìπ “√– ”§—≠ ´÷Ëß¡’º≈°√–∑∫µàÕ °“√‡ª≈’ˬπ·ª≈ß√“§“À≈—°∑√—æ¬å §«√À≈’°‡≈’ˬßÀ√◊Õߥ°“√´◊ÈÕ¢“¬À≈—°∑√—æ¬å¢Õß∫√‘…—∑œ „π™à«ß√–¬–‡«≈“ 1 ‡¥◊Õπ ·≈– Àâ“¡‰¡à„À⇪º¬¢âÕ¡Ÿ≈∑’ˇªìπ “√– ”§—≠π—ÈπµàÕ∫ÿ§§≈Õ◊Ëπ °àÕπ∑’Ëß∫°“√‡ß‘πÀ√◊Õ¢âÕ¡Ÿ≈¿“¬„ππ—Èπ®–‡ªî¥‡º¬µàÕ “∏“√≥™π ∑—Èßπ’ȇæ◊ËÕ¥”‡π‘π°“√§«∫§ÿ¡¥Ÿ·≈·≈–µ√«® Õ∫°“√¥”‡π‘π°“√¥—ß°≈à“« ∫√‘…—∑œ ¡’π‚¬∫“¬„À⺟â∫√‘À“√∑’Ë¡’Àπâ“∑’Ë®—¥∑”√“¬ß“π°“√ ∂◊Õ§√Õß·≈–°“√‡ª≈’ˬπ·ª≈ß°“√∂◊ÕÀ≈—°∑√—æ¬åµ“¡¡“µ√“ 59 ·®âß„Àâ§≥–°√√¡°“√∫√‘À“√∑√“∫ ∫ÿ§≈“°√

∫√‘…—∑œ ‰¡à¡’¢âÕæ‘æ“∑¥â“π·√ßß“π∑’Ë ”§—≠„π√–¬–‡«≈“ 3 ªï∑’˺à“π¡“ ≥ 31 ∏—𫓧¡ 2548 ∫√‘…—∑œ ¡’æπ—°ß“π®”π«π∑—Èß ‘Èπ 193 §π (‰¡à√«¡°√√¡°“√·≈–ºŸâ∫√‘À“√) ‚¥¬·¬°‡ªìπ·µà≈– “¬ß“πÀ≈—°¥—ßµàÕ‰ªπ’È ª√–®”‚§√ß°“√  “¬ß“π°àÕ √â“ß ª√–®” ”π—°ß“π„À≠à √«¡

ª√–®”

™—Ë«§√“«

√«¡

67 58 61 186

0 7 0 7

67 65 61 193

„πªï 2548 æπ—°ß“π¡’º≈µÕ∫·∑π„π√Ÿª¢Õ߇ߑπ‡¥◊Õπ·≈–‚∫π— √«¡∑—Èß ‘Èπ 66.52 ≈â“π∫“∑

38 √“¬ß“πª√–®”ªï 2548 ∫√‘ …— ∑ ≈≈‘ ≈ æ√Á Õ æ‡æÕ√å µ’È ®”°— ¥ (¡À“™π)


Management Structure Control on the Companys striated Information It is the Company policy not to allow any directors and Executives use of any significant information not yet open to the public for the purpose of their own or other people interest. The standard practices to control this issue are as follows. (1) To have Executives in all departments clearly acknowledged their responsibilities in reporting their ownership of the company stocks including those of spouse and under aged children. Any change of ownership shall be also reported as required by the SET’S law and regulations. (2) Circulate awareness letters to the concerning executives who can access to some sensitive information by not to involve in any tradings on the company stock for the period of 1 month. Exposure of such information to annoucing other before open to the public is also forbidden

Human Resource No lawsuit on labor dispute existed in the past 3 years. As of December 31, 2004, altogether there are 180 employees (Not include directors and executives) work in 3 major areas as follows :

Permanent

Temporary

Total

Project sites

67

0

67

Construction

58

7

65

Head office

61

0

61

Total

186

7

193

In 2005, total salary and Bonus paid were 66.52 Million Baht.

39 Annual Report 2005 Lalin Property Public Company Limited


‚ § √ ß   √â “ ß ° “ √ ®— ¥ ° “ √

π‚¬∫“¬„π°“√æ—≤π“æπ—°ß“π

∫√‘…—∑œ ¡’π‚¬∫“¬„π°“√ π—∫ πÿπ°“√æ—≤π“∑√—欓°√∫ÿ§§≈¢Õß∫√‘…—∑œ Õ¬à“ßµàÕ‡π◊ËÕ߇ªìπ√–∫∫·≈–¡’¡“µ√∞“π ‚¥¬∫√‘…—∑œ ®–æ‘®“√≥“∂÷ߧ«“¡®”‡ªìπ·≈–«“ß·ºπ°“√Ωñ°Õ∫√¡ª√–®”ªï„Àâ·°àæπ—°ß“π„π∑ÿ°√–¥—∫ ‡æ◊ËÕ‡æ‘Ë¡æŸπ§«“¡√Ÿâ §«“¡ “¡“√∂ „Àâ·°à ∫ÿ§≈“°√¢Õß∫√‘…—∑œ Õ—π®– àߺ≈„Àâ ‘π§â“·≈–∫√‘°“√¢Õß∫√‘…—∑œ ¡’§ÿ≥¿“æ ·≈–‰¥â√—∫§«“¡æ÷ßæÕ„® Ÿß ÿ¥®“°≈Ÿ°§â“ ´÷Ëß∂◊Õ‡ªìπª≥‘∏“π  Ÿß ÿ¥¢Õß∫√‘…—∑œ ¥â«¬°“√æ—≤π“∑√—欓°√∫ÿ§§≈¢Õß∫√‘…—∑œ ‡√‘Ë¡µ—Èß·µàæπ—°ß“π‡¢â“ß“π ®–µâÕߺà“πÀ≈—° Ÿµ√°“√ª∞¡π‘‡∑»·≈– À≈—° Ÿµ√°“√‡ªìπºŸâ¡’À—«„®„π°“√„Àâ∫√‘°“√ (Service Mind) ·≈–À≈—° Ÿµ√µà“ßÊ ∑’ˇ°’ˬ«¢âÕß°—∫°“√ªØ‘∫—µ‘ß“π„π∫√‘…—∑œ ·≈–‚§√ß°“√ √«¡∑—ÈßÀ≈—° Ÿµ√µ“¡·ºπ°“√Ωñ°Õ∫√¡ª√–®”ªï ∑—ÈßÀ≈—° Ÿµ√ª°µ‘·≈–‚§√ß°“√摇»…  ”À√—∫æπ—°ß“π∑—Ë«‰ª·≈–ºŸâ∫√‘À“√ Õ“∑‘ °“√Ωñ° Õ∫√¡„Àâ∫√‘°“√·≈–°“√¢“¬ °“√Ωñ°Õ∫√¡¡“µ√∞“π°“√§«∫§ÿ¡ß“π·≈–§ÿ≥¿“悧√ß°“√ µ≈Õ¥®πÀ≈—° Ÿµ√ª√‘≠≠“‚∑∫√‘À“√∏ÿ√°‘® (MBA) ·≈–À≈—° Ÿµ√ Mini MBA  ”À√—∫ºŸâ∫√‘À“√¢Õß∫√‘…—∑œ πÕ°®“°°“√æ—≤π“∫ÿ§≈“°√∑ÿ°√–¥—∫µ“¡·ºπ°“√Ωñ°Õ∫√¡ª√–®”ªï·≈â« ∫√‘…—∑œ ¬—ß°”Àπ¥„Àâ¡’·ºπ°“√æ—≤π“∫ÿ§≈“°√∑’Ë¡’ »—°¬¿“æ Ÿß (Star) ‰«â‚¥¬‡©æ“– (Individual Development Program) ‡æ◊ËÕ‡æ‘Ë¡æŸπ§«“¡√Ÿâ §«“¡ “¡“√∂„π√–¥—∫∑’Ë Ÿß¢÷Èπ ·≈– “¡“√∂ ªØ‘∫—µ‘ß“π„πµ”·ÀπàߺŸâ∫√‘À“√¢Õß∫√‘…—∑œ ‰¥â„πÕ𓧵µàÕ‰ª √–∫∫°“√§«∫§ÿ¡·≈–°“√µ√«® Õ∫¿“¬„π

∫√‘…—∑œ „À⧫“¡ ”§—≠µàÕ√–∫∫§«∫§ÿ¡¿“¬„π∑—Èß„π√–¥—∫∫√‘À“√·≈–√–¥—∫ªØ‘∫—µ‘ß“π∑’Ë¡’ª√– ‘∑∏‘¿“æ ‚¥¬¬—ߧ߉«â´÷Ëߧ«“¡§≈àÕß µ—«„π°“√ªØ‘∫—µ‘ß“π ¥â«¬°“√®—¥„Àâ¡’√–∫∫§«∫§ÿ¡¿“¬„π´÷Ëߧ√Õ∫§≈ÿ¡°“√ªØ‘∫—µ‘ß“π∑ÿ°¥â“π∑—Èߥâ“π°“√ªØ‘∫—µ‘ß“π ¥â“π°“√‡ß‘π ·≈– °“√ªØ‘∫—µ‘„À⇪ìπ‰ªµ“¡¢âÕ°”Àπ¥°ÆÀ¡“¬∑’ˇ°’ˬ«¢âÕß ·≈–®—¥„Àâ¡’·ºπ°µ√«® Õ∫¿“¬„π‡ªìπÀπ૬ߓπÕ‘ √–¡’ “¬°“√∫—ߧ—∫∫—≠™“¢÷Èπ µ√ßµàÕ§≥–°√√¡°“√µ√«® Õ∫ ∑”Àπâ“∑’˵√«® Õ∫·≈–„À⧫“¡‡ÀÁπ‡°’Ë¬«°—∫√–∫∫§«∫§ÿ¡¿“¬„π∑ÿ°√–∫∫ß“π‡æ◊ËÕ„À⧫“¡¡—Ëπ„®Õ¬à“ß  ¡‡Àµÿ ¡º≈«à“√–∫∫§«∫§ÿ¡¿“¬„π∑’Ë¡’Õ¬Ÿà ¬—ß¡’ª√– ‘∑∏‘¿“æ‡æ’¬ßæÕ·≈–æπ—°ß“π∑ÿ°√–¥—∫·≈–∑ÿ°§π‰¥âªØ‘∫—µ‘µ“¡Õ¬à“ßµàÕ‡π◊ËÕß ‚¥¬¡’ §≥–°√√¡°“√µ√«® Õ∫°”°—∫¥Ÿ·≈„Àâ°“√ªØ‘∫—µ‘ß“πµ√«® Õ∫‡ªìπ‰ªµ“¡¡“µ√∞“πÕ¬à“ß¡’ª√– ‘∑∏‘¿“æ πÕ°®“°π’ȧ≥–°√√¡°“√¬—߉¥â °”°—∫¥Ÿ·≈·≈– à߇ √‘¡„ÀâΩÉ“¬®—¥°“√µ√–Àπ—°∂÷ߧ«“¡ ”§—≠¢Õß√–∫∫§«∫§ÿ¡¿“¬„π·≈–¡’°“√µ√«® Õ∫ ‚¥¬°”™—∫„ÀâΩÉ“¬®—¥°“√  π—∫ πÿπ·≈– à߇ √‘¡√–∫∫§«∫§ÿ¡¿“¬„π·≈–ª√—∫ª√ÿß„Àâ¡’§«“¡‡æ’¬ßæÕ·≈–‡À¡“– ¡Õ¬Ÿà‡ ¡Õ

40 √“¬ß“πª√–®”ªï 2548 ∫√‘ …— ∑ ≈≈‘ ≈ æ√Á Õ æ‡æÕ√å µ’È ®”°— ¥ (¡À“™π)


Management Structure Personnel development policy. The Company has a policy in support of its continuous human resource development carried out in an organized method, and with standardization. By doing this, the Company will consider the needs and plan annual trainings for its staff of all levels, in order to upgrade their knowledge and abilities. This will result in making the goods and services of the Company to be of quality and will gain the maximum customers’ satisfaction. This is the corporate optimum determination on the development of its personnel. From the start of new employees working with the Company, they must pass a job orientation course and a course of being a service-minded person and other courses related to their work in the Company, and projects including the annual training plan of both normal and special projects. On the part of employees in general and the Executives, they will be provided with trainings on service rendering and selling, training on work-supervision standard and quality project together with the curriculum of Master of Business Administration (MBA) and Mini MBA for Executives of the Company. In addition to the personnel development for all levels under the annual training plan, the Company has also set up a plan of being a Star (Development of high potential personnel), especially the Individual Development Program made available to enhance the knowledge, abilities of its personnel to be in higher level and can perform the work in the positions of Executives of the Company in the future.

Internal control The Company recognises the importance of effective internal controls, both at the management and operational levels, while simultaneously maintaining working flexibility. The internal controls system encompasses all dimensions of operations, from working systems, to finance and ensuring compliance with the relevant laws. To this end, an independent internal audit department has been established that reports directly to the Audit Committee. The departments duties are to audit and provide recommendations on every aspect of the internal controls system, thereby ensuring with a reasonable degree of confidence that the Companys internal controls are efficient and that all employees consistently comply with the system. The Audit Committee further monitors the department’s performance in line with predetermined standards. Moreover, the Audit Committee emphasises the importance of internal controls and the need for internal auditing with the management level. It therefore enlists management’s support and promotion of internal controls, while making adjustments that underline the sufficiency and suitability of the overall system at all times.

41 Annual Report 2005 Lalin Property Public Company Limited


‚ § √ ß   √â “ ß ∑ÿ π

À≈—°∑√—æ¬å¢Õß∫√‘…—∑

≥ «—π∑’Ë 31 ∏—𫓧¡ 2548 ∫√‘…—∑œ ¡’∑ÿπ®¥∑–‡∫’¬π 925,000,000 ∫“∑ ‡√’¬°™”√–·≈â« 825,000,000 ∫“∑ ·∫à߇ªìπÀÿâπ “¡—≠ 825,000,000 Àÿâπ ¡Ÿ≈§à“∑’˵√“‰«âÀÿâπ≈– 1 ∫“∑ ºŸâ∂◊ÕÀÿâπ

≥ «—π∑’Ë 30 ∏—𫓧¡ 2548 ºŸâ∂◊ÕÀÿâπ√“¬„À≠à 10 √“¬·√°∑’˪√“°Ø„π ¡ÿ¥∑–‡∫’¬πºŸâ∂◊ÕÀÿâπ ¡’¥—ßπ’È ≈”¥—∫∑’Ë

1 2 3 4 5 6 7 8 9 10

√“¬™◊ËÕºŸâ∂◊ÕÀÿâπ

𓬉™¬¬—πµå ™“§√°ÿ≈ π“¬∑«’»—°¥‘Ï «—™√√—§§“«ß»å ∫√‘…—∑ ‰∑¬‡ÕÁπ«’¥’Õ“√å ®”°—¥ HSBC (SINGAPORE) NOMINEES PTE LTD. FORTIS GLOBAL CUSTODY SERVICES N.V. THE BANK OF NEW YORK (NOMINEES) LIMITED TFB FOR MFC-THAI FUND INVESTMENT PLAN CHASE NOMINEES LIMITED 1 π. .æ—™√’ Õ÷Èß ”√“≠ CITIBANK NOMINEES SINGAPORE PTE LTD-CITIBANK LONDON RE FUND 208

®”π«πÀÿâπ

√âÕ¬≈–

283,502,750 233,502,750 42,592,500 32,522,100 17,500,000 15,866,500 11,919,300 10,826,500 10,411,200

34.36 28.30 5.16 3.94 2.12 1.92 1.44 1.31 1.26

9,843,700

1.19

π‚¬∫“¬°“√®à“¬‡ß‘πªíπº≈

∫√‘…—∑œ ¡’π‚¬“¬°“√®à“¬‡ß‘πªíπº≈„πÕ—µ√“ª√–¡“≥√âÕ¬≈– 30 ¢Õß°”‰√ ÿ∑∏‘À≈—ßÀ—°¿“…’ À“°‰¡à¡’‡Àµÿ®”‡ªìπÕ◊Ëπ„¥ ·≈– °“√®à“¬‡ß‘πªíπº≈π—Èπ‰¡à¡’º≈°√–∑∫µàÕ°“√¥”‡π‘πß“πª°µ‘¢Õß∫√‘…—∑œ Õ¬à“ß¡’π—¬ ”§—≠ ∑—Èßπ’È°“√®à“¬‡ß‘πªíπº≈„Àâπ”ªí®®—¬µà“ßÊ ¡“ æ‘®“√≥“ª√–°Õ∫ ‡™àπ °“√¥”‡π‘πß“π·≈–∞“π–°“√‡ß‘π¢Õß∫√‘…—∑œ  ¿“æ§≈àÕߢÕß∫√‘…—∑œ °“√¢¬“¬∏ÿ√°‘® ·≈–ªí®®—¬Õ◊ËπÊ ∑’Ë ‡°’ˬ«¢âÕß„π°“√∫√‘À“√ß“π¢Õß∫√‘…—∑œ ´÷Ëß°“√®à“¬‡ß‘πªíπº≈¥—ß°≈à“«¢â“ßµâπ ®–µâÕ߉¥â√—∫§«“¡‡ÀÁπ™Õ∫®“°ºŸâ∂◊ÕÀÿâπµ“¡§«“¡‡À¡“– ¡ ·≈–§«“¡‡ÀÁπ™Õ∫¢Õߧ≥–°√√¡°“√∫√‘…—∑ ‚¥¬„πªï 2548 ∫√‘…—∑ª√–°“»®à“¬‡ß‘πªíπº≈„À⺟â∂◊ÕÀÿâπ®”π«π 0.34 ∫“∑µàÕÀÿâπ ‡æ◊ËÕ„ÀâÀÿâπ ∫√‘…—∑‡ªìπ Value Stock  ”À√—∫π—°≈ß∑ÿπ∑’Ë∂◊ÕÀÿâπ∫√‘…—∑ Long - Term ´÷Ëß„π∫√√¬“°“»∏ÿ√°‘®∑’ˇªìπª°µ‘Àÿâπ¢Õß∫√‘…—∑®–„Àâº≈µÕ∫·∑π ∑’Ë¥’ ¡“°°«à“‡ß‘πΩ“°ª√–®”¢Õß∏𓧓√æ“≥‘™¬å∑—Ë«‰ª·πàπÕπ

42 √“¬ß“πª√–®”ªï 2548 ∫√‘ …— ∑ ≈≈‘ ≈ æ√Á Õ æ‡æÕ√å µ’È ®”°— ¥ (¡À“™π)


Capital Structure The Companyûs stocks As of December 31, 2005, the Company has the registered capital for 925 million baht which is fully paid which divided into 825 million common shares, par value 1 baht each.

Sharceholders As of December 30, 2005, 10 major shareholders are as follows:

No.

Name of the share holder

Number of shares

%

1

Mr. Chaiyan Chakarakul

283,502,750

34.36

2

Mr. Taveesak Watcharakkawong

233,502,750

28.30

3

THAI NVDR CO., LTD.

42,592,500

5.16

4

HSBC (SINGAPORE) NOMINEES PTE LTD.

32,522,100

3.94

5

FORTIS GLOBAL CUSTODY SERVICES N.V.

17,500,000

2.12

6

THE BANK OF NEW YORK (NOMINEES) LIMITED

15,866,500

1.92

7

TFB FOR MFC-THAI FUND INVESTMENT PLAN

11,919,300

1.44

8

CHASE NOMINEES LIMITED 1

10,826,500

1.31

9

Miss Patcharee Ungsamran

10,411,200

1.26

10

CITIBANK NOMINEES SINGAPORE PTE 9,843,700

1.19

LTD-CITIBANK LONDON RE FUND 208

Dividend Policy The Company has the policy to pay dividend at approximately 30% of net profit provided there is no other necessary arrangement and such dividend payment will not materially affect the Company’s normal business operation. After all dividend payment is subject to both shareholders and Board of Directors an approval In the year of 2005, the Company announced the dividend payment for 0.34 baht per share which we believe that under normal business condition, our stock would give the investors higher return than that fixed accounts of the commercial banks.

43 Annual Report 2005 Lalin Property Public Company Limited


Õ ∏‘ ∫ “ ¬ · ≈ – «‘ ‡ § √ “ – Àå ∞ “ π – ∑ “ ß ° “ √ ‡ ß‘ π · ≈ – º ≈ ° “ √ ¥ ” ‡ π‘ π ß “ π

„πªï 2548 ∫√‘…—∑œ ¡’√“¬‰¥â√«¡∑—Èß ‘Èπ 2,764.79 ≈â“π∫“∑ ‡æ‘Ë¡¢÷Èπ®“°ªï 2547 ‡ªìπ®”π«π‡ß‘π 418.97 ≈â“π∫“∑ À√◊Õ§‘¥‡ªìπÕ—µ√“°“√‡µ‘∫‚µ 17.86% „π¢≥–∑’Ë °”‰√ ÿ∑∏‘¢Õß ∫√‘…—∑œ ‡æ‘Ë¡¢÷Èπ‡ªìπ 692.63 ≈â“π∫“∑ ‡∑’¬∫°—∫ªï 2547 Õ—µ√“ °“√‡µ‘∫‚µ¢Õß°”‰√ ÿ∑∏‘‡æ‘Ë¡ Ÿß¢÷Èπ 19.32%  “‡ÀµÿÀ≈—°∑’Ë¡’º≈ µàÕ°“√¥”‡π‘πß“π¢Õß∫√‘…—∑œ §◊Õ ∫√‘…—∑¡’¬Õ¥¢“¬∑’ˬ—ߧ߇πâπ „πµ≈“¥∫â“π ”À√—∫≈Ÿ°§â“∑’Ë¡’√“¬‰¥â√–¥—∫ª“π°≈“ß ‚¥¬π”‡ πÕ ∫â“π√“§“√–¥—∫µ—Èß·µà 2 ≈â“π∫“∑ ®π∂÷ß 6 ≈â“π∫“∑µàÕÀ≈—ß ´÷Ëß ‡ªìπµ≈“¥∑’Ë®—¥«à“‡ªìπµ≈“¥∑’Ë¡’§«“¡µâÕß°“√Õ¬ŸàÕ“»—¬Õ¬à“ß∑’Ë·∑â ®√‘ߢÕߺŸâ´◊ÈÕ ·≈–‡À¡“– ¡°—∫°”≈—ß´◊ÈÕ¢Õߧπ°≈ÿà¡∑’ËÕ¬Ÿà„π«—¬ ∑”ß“π·≈–µâÕß°“√·¬°∑’ËÕ¬ŸàÕ“»—¬®“°§√Õ∫§√—«À≈—° ·¡â«à“Õ—µ√“ ¥Õ°‡∫’Ȭ ·≈–µâπ∑ÿπ§à“°àÕ √â“ß ∑’Ë¡’·π«‚πâ¡®–‡æ‘Ë¡ Ÿß¢÷Èπ „π∑“ß µ√ß°—π¢â“¡°Á‡ªìπ·√ߺ≈—°¥—π„À⺟â∫√‘‚¿§µ—¥ ‘π„®´◊ÈÕ∫â“π°àÕπ∑’Ë®– ¡’°“√ª√—∫√“§“„πÕ𓧵‰¥â‡™àπ°—π ≥ «—π∑’Ë 31 ∏—𫓧¡ 2548 ∫√‘…—∑¡’ ‘π∑√—æ¬å√«¡ 4,554.87 ≈â“π∫“∑ ‡æ‘Ë¡¢÷Èπ 472.66 ≈â“π∫“∑À√◊Õ§‘¥‡ªìπ 11.58%  “‡ÀµÿÀ≈—°¡“®“°°“√‡æ‘Ë¡¢÷Èπ¢Õß‡ß‘π ¥„π¡◊Õ ·≈– ∑’Ë¥‘π ´÷Ëß∫√‘…—∑´◊ÈÕ¡“‡æ◊ËÕ√Õß√—∫°“√¢¬“¬‚§√ß°“√„πÕ𓧵 ¢Õß∫√‘…—∑ „π à«π¢ÕßÀπ’È ‘π ∫√‘…—∑¡’Àπ’È ‘π∑’ˇæ‘Ë¡¢÷Èπ 151.72 ≈â“π∫“∑ ‡ªìπ 1,362.52 ≈â“π∫“∑ À√◊Õ‡æ‘Ë¡¢÷Èπ 12.53% ´÷Ëß

44 √“¬ß“πª√–®”ªï 2548 ∫√‘ …— ∑ ≈≈‘ ≈ æ√Á Õ æ‡æÕ√å µ’È ®”°— ¥ (¡À“™π)

 “‡ÀµÿÀ≈—°¡“®“°°“√‡æ‘Ë¡¢÷Èπ¢Õ߇ߑπ‡∫‘°‡°‘π∫—≠™’·≈–‡ß‘π°Ÿâ¬◊¡ √–¬– —Èπ®“° ∂“∫—π°“√‡ß‘π ´÷Ë߇ªìπ‰ªµ“¡°“√‡µ‘∫‚µ„π¬Õ¥¢“¬ ¢Õß∫√‘…—∑∑’ˇæ‘Ë¡ Ÿß¢÷ÈπÕ¬à“ß¡“° ®÷ß®”‡ªìπµâÕß¡’°“√‡æ‘Ë¡ ¿“æ §≈àÕß√–¬– —Èπ¢Õß∫√‘…—∑ Õ¬à“߉√°Áµ“¡∫√‘…—∑¬—ߧߡ’Õ—µ√“ à«π Àπ’È ‘πµàÕ∑ÿπ (D/E Ratio) ‡∑à“°—∫„πªï 2547 ∑’Ë 0.4 ‡∑à“ ´÷Ëß®—¥«à“ µË”¡“°‡¡◊ËÕ‡∑’¬∫°—∫∫√‘…—∑Õ◊ËπÊ ∑’˪√–°Õ∫∏ÿ√°‘®·∫∫‡¥’¬«°—π „πªï 2548 π’È ∫√‘…—∑¬—ߧߡ’Àÿâπ°Ÿâª√–‡¿∑‰¡à¥âÕ¬ ‘∑∏‘·≈– ‰¡à¡’À≈—°ª√–°—π Õ“¬ÿ 3 ªï ®”π«π 800.00 ≈â“π∫“∑ ´÷Ëß∫√‘…—∑ ÕÕ°‰«â„πªï 2547 ®“°°“√®—¥Õ—π¥—∫‡§√¥‘µÕߧå°√¢Õß∫√‘…—∑ ∑√‘  ‡√∑µ‘Èß ®”°—¥ „πªï 2548 ∫√‘…—∑¬—ߧ߉¥â√—∫°“√§ßÕ—π¥—∫‡§√¥‘µ Õߧå°√∑’Ë BBB+ ´÷Ëß®—¥Õ¬Ÿà„π√–¥—∫ Investment Grade ¥â“𧫓¡ “¡“√∂„π°“√∑”°”‰√·≈–ª√– ‘∑∏‘¿“æ„π°“√ ¥”‡π‘πß“π¢Õß∫√‘…—∑ ∫√‘…—∑¬—ߧߡ’°”‰√¢—Èπµâπ∑’Ë Ÿß∂÷ß 44.92% ´÷Ëß≈¥≈ß®“°ß«¥∫—≠™’°àÕπ‡æ’¬ß‡≈Á°πâÕ¬ (0.75%) Õ¬à“߉√°Áµ“¡ ∫√‘…—∑¡’Õ—µ√“°”‰√ ÿ∑∏‘∑’ˇæ‘Ë¡ Ÿß¢÷Èπ®“° 24.86% ‡ªìπ 25.20% „πªï 2548 Õ—π‡ªìπº≈¡“®“°°“√∑’Ë∫√‘…—∑œ ‰¥â∫√‘À“√·≈–®—¥°“√ §à“„™â®à“¬„π°“√¢“¬·≈–∫√‘À“√‰¥âÕ¬à“ß¡’ª√– ‘∑∏‘¿“æ·≈–°àÕ„Àâ ‡°‘¥¬Õ¥¢“¬∑’Ë Ÿß¢÷Èπ·≈–ª√–À¬—¥‰¥â∂÷ß 6.45%


Analysis of financial status and operating performance For 2005, the Company achieved total revenues

Consequently, the Company was required to raise its

of 2,746.79 million Baht, an increase from 2004 by a

short-term liquidity. Nonetheless, the debt to equity ratio

value of 418.97 million Baht, or equivalent to growth

(D/E) remained the same as 2004 at 0.4 times, which is

of 17.86%. At the same time, the Company’s net profit

considered a low figure compared to other businesses in

increased to 692.63 million Baht. Compared with 2004

the same industry.

performance, net profit grew by 19.32 %. The main

In 2005, the Company continued to have a total

contributing factor was the Company’s continued focus

of 800.00 million non-secured debentures with rights,

on the property market for medium-income customers,

carrying a 3-year term and first issued in 2004. In 2005,

by offering houses priced starting at 2 million Baht, up

TRIS Rating Co., Ltd. maintained the Company’s credit

to 6 million Baht per unit. This market segment is

rating with a BBB+ grade, which is deemed to be an

recognised for its true demand from buyers. The

Investment Grade.

Company’s products are ideal for the purchasing power

From the perspectives of profit generation

of career workers who are seeking a place to call home

capability and overall operating efficiency, the

away from their traditional family home. Despite the

Company’s gross profit margin remained high at 44.92%,

trend of rising interest rates and construction costs, this

dropping only marginally (by 0.75%) from the same

may actually prove to be an influential factor in clients’

period last year. However, the Company’s net profit

decision to purchase a home quickly before costs rise

margin jumped from 24.86% to 25.20% in 2005, due

even further.

to its effective management of sales and administration

As of 31 December 2005, the Company’s total assets amounted to 4,554.87 million Baht and increased

expenses, leading to increased sales and cost savings of up to 6.45%.

by 472.66 million Baht, or 11.58%. The main reason was the increase in cash on hand and land, which the Company purchased for its future project expansion plans. Meanwhile, total liabilities increased by 151.72 million Baht, or1 2.53%, to reach 1,362.52 million Baht. This was attributed primarily to a rise in overdrafts and short-term loans with financial institutions, in response to the significant increase in the Company’s sales.

45 Annual Report 2005 Lalin Property Public Company Limited


√ “ ¬ ß “ π ¢ Õ ß ºŸâ   Õ ∫ ∫— ≠ ™’ √— ∫ Õ πÿ ≠ “ µ

‡ πÕµàÕºŸâ∂◊ÕÀÿâπ·≈–§≥–°√√¡°“√ ¢Õß∫√‘…—∑ ≈≈‘≈ æ√ÁÕæ‡æÕ√åµ’È ®”°—¥ (¡À“™π)

¢â“懮Ⓣ¥âµ√«® Õ∫ß∫¥ÿ≈ ≥ «—π∑’Ë 31 ∏—𫓧¡ 2548 ß∫°”‰√¢“¥∑ÿπ ß∫· ¥ß°“√‡ª≈’ˬπ·ª≈ß„π à«π¢ÕߺŸâ∂◊ÕÀÿâπ ·≈–ß∫°√–· ‡ß‘π ¥  ”À√—∫ªï ‘Èπ ÿ¥«—π‡¥’¬«°—π¢Õß∫√‘…—∑ ≈≈‘≈ æ√ÁÕæ‡æÕ√åµ’È ®”°—¥ (¡À“™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§«“¡‡ÀÁπµàÕ ß∫°“√‡ß‘π¥—ß°≈à“« ®“°º≈°“√µ√«® Õ∫¢Õߢâ“懮ⓠß∫°“√‡ß‘π ¢Õß∫√‘…—∑ ≈≈‘≈ æ√ÁÕæ‡æÕ√åµ’È ®”°—¥ (¡À“™π)  ”À√—∫ªï ‘Èπ ÿ¥ «—π∑’Ë 31 ∏—𫓧¡ 2547 ∑’Ë· ¥ß‡ª√’¬∫‡∑’¬∫µ√«® Õ∫‚¥¬ ºŸâ Õ∫∫—≠™’Õ◊Ëπ„π ”π—°ß“π‡¥’¬«°—π·≈–‡ πÕ√“¬ß“π‰«âÕ¬à“߉¡à¡’ ‡ß◊ËÕπ‰¢ µ“¡√“¬ß“π≈ß«—π∑’Ë 21 °ÿ¡¿“æ—π∏å 2548 ¢â“懮Ⓣ¥âªØ‘∫—µ‘ß“πµ√«® Õ∫µ“¡¡“µ√∞“π°“√ Õ∫ ∫—≠™’∑’Ë√—∫√Õß∑—Ë«‰ª ´÷Ëß°”Àπ¥„Àâ¢â“懮⓵âÕß«“ß·ºπ·≈– ªØ‘∫—µ‘ß“π‡æ◊ËÕ„À≥⧫“¡‡™◊ËÕ¡—ËπÕ¬à“ß¡’‡Àµÿº≈«à“ ß∫°“√‡ß‘π · ¥ß¢âÕ¡Ÿ≈∑’Ë¢—¥µàÕ¢âÕ‡∑Á®®√‘ßÕ—π‡ªìπ “√– ”§—≠À√◊Õ‰¡à °“√ µ√«® Õ∫√«¡∂÷ß°“√���™â«‘∏’°“√∑¥ Õ∫À≈—°∞“πª√–°Õ∫√“¬°“√

∑—Èß∑’ˇªìπ®”π«π‡ß‘π·≈–°“√‡ªî¥‡º¬¢âÕ¡Ÿ≈„πß∫°“√‡ß‘π °“√ª√–‡¡‘𧫓¡‡À¡“– ¡¢ÕßÀ≈—°°“√∫—≠™’∑’Ë°‘®°“√„™â·≈– ª√–¡“≥°“√‡°’ˬ«°—∫√“¬°“√∑“ß°“√‡ß‘π∑’ˇªìπ “√– ”§—≠ ´÷Ëß ºŸâ∫√‘À“√‡ªìπºŸâ®—¥∑”¢÷Èπ µ≈Õ¥®π°“√ª√–‡¡‘π∂÷ߧ«“¡‡À¡“– ¡ ¢Õß°“√· ¥ß√“¬°“√∑’Ë𔇠πÕ„πß∫°“√‡ß‘π‚¥¬√«¡ ¢â“懮Ⓡ™◊ËÕ«à“°“√µ√«® Õ∫¥—ß°≈à“«„Àâ¢âÕ √ÿª∑’ˇªìπ‡°≥±åÕ¬à“ß ‡À¡“– ¡„π°“√· ¥ß§«“¡‡ÀÁπ¢Õߢâ“懮ⓠ¢â“懮ⓇÀÁπ«à“ß∫°“√‡ß‘π¢â“ßµâππ’È· ¥ß∞“π–°“√‡ß‘π ≥ «—π∑’Ë 31 ∏—𫓧¡ 2548 º≈°“√¥”‡π‘πß“π·≈–°√–· ‡ß‘π ¥  ”À√—∫ªï ‘Èπ ÿ¥«—π‡¥’¬«°—π¢Õß∫√‘…—∑ ≈≈‘≈ æ√ÁÕæ‡æÕ√åµ’È ®”°—¥ (¡À“™π) ‚¥¬∂Ÿ°µâÕßµ“¡∑’˧«√„π “√– ”§—≠µ“¡À≈—°°“√∫—≠™’ ∑’Ë√—∫√Õß∑—Ë«‰ª ∫√‘…—∑ ‡Õ .‡§. ·Õ§‡§“πå·µâπ∑å ‡´Õ√å«‘ ‡´  ®”°—¥

(π“¬Õ”æ≈ ®”πߧ嫗≤πå) ºŸâ Õ∫∫—≠™’√—∫Õπÿ≠“µ ‡≈¢∑’Ë 4663 °√ÿ߇∑æ¡À“π§√ «—π∑’Ë 18 °ÿ¡¿“æ—π∏å 2549

46 √“¬ß“πª√–®”ªï 2548 ∫√‘ …— ∑ ≈≈‘ ≈ æ√Á Õ æ‡æÕ√å µ’È ®”°— ¥ (¡À“™π)


Audit Report of Certified Public Accountant To The Board of Directors and Shareholders of LALIN PROPERTY PUBLIC COMPANY LIMITED I have audited the balance sheets of LALIN

An audit also includes assessing the accounting principles

PROPERTY PUBLIC COMPANY LIMITED as of

used and significant estimates made by management, as

December 31, 2005, the statements of income, the

well as evaluating the overall financial statement

statements of changes in shareholders’ equity and cash

presentation. I believe that my audit provides a

flow statements for the years then ended. These financial

reasonable basis for my opinion.

statements are the responsibility of the Company’s management as to their correctness and the completeness

In my opinion, the financial statements referred to

of the presentation. My responsibility is to express an

above present fairly, in all material respects, the financial

opinion on these financial statements based on my audits.

positions of LALIN PROPERTY PUBLIC COMPANY

The financial statements for the years ended on

LIMITED as of December 31, 2005, the results of its

December 31, 2005 of LALIN PROPERTY PUBLIC

operations and cash flows for the years then ended, in

COMPANY LIMITED audited by another auditor in

conformity with generally accepted accounting

the same firm, who gave an unqualified report thereon

principles.

dated on February 21, 2005. I conducted my audit in accordance with generally accepted auditing standards. Those standards require

S.K. ACCOUNTANT SERVICES

that I plan and perform the audit to obtain reasonable

COMPANY LIMITED.

assurance about whether the financial statements are free of any significant misstatement. An audit includes examining, on a test basis, evidence supporting the amounts and disclosures in the financial statements. (Ampol Chamnongwat) Authorized Auditor No. 4663 Bangkok February 18, 2006

47 Annual Report 2005 Lalin Property Public Company Limited


ß ∫ ¥ÿ ≈ ∫√‘…—∑ ≈≈‘≈ æ√ÁÕæ‡æÕ√åµ’È ®”°—¥ (¡À“™π)

≥ «—π∑’Ë 31 ∏—𫓧¡ 2548 ·≈– 2547

(Àπ૬ : ∫“∑) À¡“¬‡Àµÿ

 ‘π∑√—æ¬å  ‘π∑√—æ¬åÀ¡ÿπ‡«’¬π ‡ß‘π ¥·≈–√“¬°“√‡∑’¬∫‡∑à“‡ß‘π ¥ ≈Ÿ°Àπ’È°“√§â“·≈–µ—Ϋ‡ß‘π√—∫  ‘π§â“§ß‡À≈◊Õ  ‘π∑√—æ¬åÀ¡ÿπ‡«’¬πÕ◊Ëπ -  ÿ∑∏‘ √«¡ ‘π∑√—æ¬åÀ¡ÿπ‡«’¬π  ‘π∑√—æ¬å‰¡àÀ¡ÿπ‡«’¬π ‡ß‘π≈ß∑ÿπ„πÀ≈—°∑√—æ¬å‡º◊ËÕ¢“¬ -  ÿ∑∏‘ ∑’Ë¥‘π Õ“§“√ ·≈–Õÿª°√≥å -  ÿ∑∏‘ ∑’Ë¥‘π√Õ°“√æ—≤π“  ‘π∑√—æ¬å‰¡àÀ¡ÿπ‡«’¬πÕ◊Ëπ -  ÿ∑∏‘ √«¡ ‘π∑√—æ¬å‰¡àÀ¡ÿπ‡«’¬π √«¡ ‘π∑√—æ¬å

48 √“¬ß“πª√–®”ªï 2548 ∫√‘ …— ∑ ≈≈‘ ≈ æ√Á Õ æ‡æÕ√å µ’È ®”°— ¥ (¡À“™π)

4 5 6 7 8 9 10

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

2548

2547

154,441,946.39 34,839,850.00 3,444,450,593.51 24,658,706.20 3,658,391,096.10

13,719,546.37 45,808,681.00 3,461,707,088.72 25,375,634.34 3,546,610,950.43

308,020,551.24 104,674,844.09 468,726,331.70 15,057,006.95 896,478,733.98 4,554,869,830.08

264,227,320.47 115,995,741.78 147,491,965.70 7,880,364.66 535,595,392.61 4,082,206,343.04


Balance Sheets LALIN PROPERTY PUBLIC COMPANY LIMITED As of December 31, 2005 and 2004

(Unit : Baht)

Note

2005

2004

154,441,946.39

13,719,546.37

34,839,850.00

45,808,681.00

ASSETS CURRENT ASSETS Cash on Hand and Equivalent Items

4

Account Receivable and Notes Inventories

5

3,444,450,593.51

3,461,707,088.72

Other Current Assets - Net

6

24,658,706.20

25,375,634.34

3,658,391,096.10

3,546,610,950.43

TOTAL CURRENT ASSETS NON-CURRENT ASSETS Investment in Securities Available for Sale-Net

7

308,020,551.24

264,227,320.47

Property, Plant and Equipment-Net

8

104,674,844.09

115,995,741.78

Land Awaiting Development

9

468,726,331.70

147,491,965.70

Other Non-Current Assets-Net

10

15,057,006.95

7,880,364.66

896,478,733.98

535,595,392.61

4,554,869,830.08

4,082,206,343.04

TOTAL NON-CURRENT ASSETS TOTAL ASSETS

Notes to the financial statements are an integral part of these statements.

49 Annual Report 2005 Lalin Property Public Company Limited


ß ∫ ¥ÿ ≈ ∫√‘…—∑ ≈≈‘≈ æ√ÁÕæ‡æÕ√åµ’È ®”°—¥ (¡À“™π)

≥ «—π∑’Ë 31 ∏—𫓧¡ 2548 ·≈– 2547

(Àπ૬ : ∫“∑) À¡“¬‡Àµÿ

Àπ’È ‘π·≈– à«π¢ÕߺŸâ∂◊ÕÀÿâπ Àπ’È ‘πÀ¡ÿπ‡«’¬π ‡ß‘π‡∫‘°‡°‘π∫—≠™’·≈–‡ß‘π°Ÿâ¬◊¡√–¬– —Èπ®“° ∂“∫—π°“√‡ß‘π 11, 12 ‡™Á§®à“¬≈ß«—π∑’Ë≈à«ßÀπâ“ ‡®â“Àπ’È°“√§â“ Àπ’È ‘πÀ¡ÿπ‡«’¬πÕ◊Ëπ √“¬‰¥â√—∫≈à«ßÀπâ“ ¿“…’‡ß‘π‰¥â𑵑∫ÿ§§≈§â“ß®à“¬ §à“„™â®à“¬§â“ß®à“¬ Õ◊Ëπ Ê 13 √«¡Àπ’È ‘πÀ¡ÿπ‡«’¬π Àπ’È ‘π‰¡àÀ¡ÿπ‡«’¬π ‡ß‘π°Ÿâ¬◊¡√–¬–¬“« 14 Àÿâπ°Ÿâ 15 √«¡Àπ’È ‘π‰¡àÀ¡ÿπ‡«’¬π √«¡Àπ’È ‘π  à«π¢ÕߺŸâ∂◊ÕÀÿâπ ∑ÿπ‡√◊ÕπÀÿâπ ∑ÿπ®¥∑–‡∫’¬π Àÿâπ “¡—≠ 925,000,000 Àÿâπ ¡Ÿ≈§à“Àÿâπ≈– 1.00 ∫“∑ ∑ÿπ∑’ËÕÕ°·≈–‡√’¬°™”√–·≈â« Àÿâπ “¡—≠ 825,000,000 Àÿâπ ¡Ÿ≈§à“Àÿâπ≈– 1.00 ∫“∑  à«π‡°‘π¡Ÿ≈§à“Àÿâπ √“¬°“√°”‰√∑’ˬ—߉¡à‡°‘¥¢÷Èπ®√‘ß-‡ß‘π≈ß∑ÿπ„πÀ≈—°∑√—æ¬å‡º◊ËÕ¢“¬ °”‰√ – ¡ ®—¥ √√·≈â«  ”√Õßµ“¡°ÆÀ¡“¬ 16 ¬—߉¡à‰¥â®—¥ √√ √«¡ à«π¢ÕߺŸâ∂◊ÕÀÿâπ √«¡Àπ’È ‘π·≈– à«π¢ÕߺŸâ∂◊ÕÀÿâπ

50 √“¬ß“πª√–®”ªï 2548 ∫√‘ …— ∑ ≈≈‘ ≈ æ√Á Õ æ‡æÕ√å µ’È ®”°— ¥ (¡À“™π)

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

2548

2547

261,672,546.11 5,374,000.24 19,033,526.96

185,703,539.50 13,592,335.54 15,539,095.29

6,953,000.00 104,759,989.95 40,954,019.53 78,468,008.46 517,215,091.25

10,471,200.00 86,522,552.74 26,835,804.79 70,429,096.74 409,093,624.60

45,300,000.00 800,000,000.00 845,300,000.00 1,362,515,091.25

1,700,000.00 800,000,000.00 801,700,000.00 1,210,793,624.60

925,000,000.00

925,000,000.00

825,000,000.00 499,215,526.94 202,891.61

825,000,000.00 499,215,526.94 636,977.99

87,729,767.64 1,780,206,552.64 3,192,354,738.83 4,554,869,830.08

58,705,952.97 1,487,854,260.54 2,871,412,718.44 4,082,206,343.04


Balance Sheets LALIN PROPERTY PUBLIC COMPANY LIMITED As of December 31, 2005 and 2004

(Unit : Baht)

Note

2005

2004

261,672,546.11

185,703,539.50

5,374,000.24

13,592,335.54

19,033,526.96

15,539,095.29

6,953,000.00

10,471,200.00

104,759,989.95

86,522,552.74

40,954,019.53

26,835,804.79

LIABILITIES AND SHAREHOLDERS’ EQUITY CURRENT LIABILITIES Bank Overdraft and Short-term Loans from Financial Institutions

11, 12

Notes Payable Accounts Payable Other Current Liabilities Deferred Revenue Accrued Corporate Income Tax Accrued Expenses Others

13

TOTAL CURRENT LIABILITIES

78,468,008.46

70,429,096.74

517,215,091.25

409,093,624.60

NON-CURRENT LIABILITIES Long-term Loan

14

45,300,000.00

1,700,000.00

Debenture

15

800,000,000.00

800,000,000.00

845,300,000.00

801,700,000.00

1,362,515,091.25

1,210,793,624.60

1.00

925,000,000.00

925,000,000.00

1.00

825,000,000.00

825,000,000.00

499,215,526.94

499,215,526.94

202,891.61

636,977.99

87,729,767.64

58,705,952.97

1,780,206,552.64

1,487,854,260.54

3,192,354,738.83

2,871,412,718.44

4,554,869,830.08

4,082,206,343.04

TOTAL NON-CURRENT LIABILITIES TOTAL LIABILITIES SHAREHOLDERS’ EQUITY Share Capital Authorized Share Capital 925,000,000 Ordinary shares @ Baht Issued and Paid-Up Share Capital 825,000,000 Ordinary shares @ Baht Premiums on Share Capital Unrealized Gain -Investment in Securities Available for Sale Retained Earnings Appropriated Legal Reserve

16

Unappropriated TOTAL SHAREHOLDERS’ EQUITY TOTAL LIABILITIES AND SHAREHOLDERS’ EQUITY

Notes to the financial statements are an integral part of these statements.

51 Annual Report 2005 Lalin Property Public Company Limited


ß ∫ ° ” ‰ √ ¢ “ ¥ ∑ÿ π ∫√‘…—∑ ≈≈‘≈ æ√ÁÕæ‡æÕ√åµ’È ®”°—¥ (¡À“™π)

 ”À√—∫ªï ‘Èπ ÿ¥«—π∑’Ë 31 ∏—𫓧¡ 2548 ·≈– 2547 (Àπ૬ : ∫“∑) À¡“¬‡Àµÿ

√“¬‰¥â®“°°“√¥”‡π‘πß“π √“¬‰¥â®“°°“√¢“¬ √“¬‰¥âÕ◊Ëπ √«¡√“¬‰¥â §à“„™â®à“¬®“°°“√¥”‡π‘πß“π µâπ∑ÿπ¢“¬ §à“„™â®à“¬„π°“√¢“¬·≈–∫√‘À“√ ¿“…’∏ÿ√°‘®‡©æ“–·≈–§à“∏√√¡‡π’¬¡„π°“√‚Õπ √«¡§à“„™â®à“¬ °”‰√°àÕπ¥Õ°‡∫’Ȭ®à“¬·≈–¿“…’‡ß‘π‰¥â𑵑∫ÿ§§≈ ¥Õ°‡∫’Ȭ®à“¬ ¿“…’‡ß‘π‰¥â𑵑∫ÿ§§≈ °”‰√ ÿ∑∏‘

18

°”‰√µàÕÀÿâπ¢—Èπæ◊Èπ∞“π (∫“∑) ®”π«πÀÿâπ “¡—≠ (Àπ૬ : Àÿâπ)

52 √“¬ß“πª√–®”ªï 2548 ∫√‘ …— ∑ ≈≈‘ ≈ æ√Á Õ æ‡æÕ√å µ’È ®”°— ¥ (¡À“™π)

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

2548

2547

2,748,503,353.00 16,289,755.05 2,764,793,108.05

2,334,823,195.00 10,994,402.15 2,345,817,597.15

1,534,288,175.85 172,013,319.76 105,446,322.15 1,811,747,817.76 953,045,290.29 (29,207,957.94) (231,211,225.58) 692,626,106.77

1,281,109,598.01 183,881,631.34 87,331,130.46 1,552,322,359.81 793,495,237.34 (19,282,277.38) (193,736,666.55) 580,476,293.41

0.84 825,000,000

0.70 825,000,000


Income Statements LALIN PROPERTY PUBLIC COMPANY LIMITED

For the Years ended on December 31, 2005 and 2004

(Unit : Baht)

Note

2005

2004

2,748,503,353.00

2,334,823,195.00

16,289,755.05

10,994,402.15

2,764,793,108.05

2,345,817,597.15

1,534,288,175.85

1,281,109,598.01

Selling and Administrative Expenses

172,013,319.76

183,881,631.34

Specific Business Tax and Transfer Charges

105,446,322.15

87,331,130.46

1,811,747,817.76

1,552,322,359.81

953,045,290.29

793,495,237.34

(29,207,957.94)

(19,282,277.38)

(231,211,225.58)

(193,736,666.55)

692,626,106.77

580,476,293.41

0.84

0.70

825,000,000

825,000,000

REVENUES FROM OPERATION Sale Other Income TOTAL REVENUES EXPENSES FROM OPERATION Cost of Sales

TOTAL EXPENSES PROFIT BEFORE INTEREST EXPENSE AND CORPORATE INCOME TAX INTEREST EXPENSES CORPORATE INCOME TAX NET PROFIT PRIMARY EARNINGS PER SHARE (BAHT) ORDINARY SHARES (Unit : Share)

18

Notes to the financial statements are an integral part of these statements.

53 Annual Report 2005 Lalin Property Public Company Limited


ß ∫ ·   ¥ ß ° “ √ ‡ ª ≈’Ë ¬ π · ª ≈ ß „ π  à « π ¢ Õ ß ºŸâ ∂◊ Õ Àÿâ π ∫√‘…—∑ ≈≈‘≈ æ√ÁÕæ‡æÕ√åµ’È ®”°—¥ (¡À“™π)

 ”À√—∫ªï ‘Èπ ÿ¥«—π∑’Ë 31 ∏—𫓧¡ 2548 ·≈– 2547 (Àπ૬ : ∫“∑) À¡“¬‡Àµÿ

¬Õ¥§ß‡À≈◊Õ ≥ «—π∑’Ë 31 ∏—𫓧¡ 2546

Àÿâπ “¡—≠∑’ËÕÕ° ·≈–™”√–·≈â«

√“¬°“√°”‰√ °”‰√ – ¡  à«π‡°‘π (¢“¥∑ÿπ) ∑’ˬ—ß ®—¥ √√·≈â« ¬—߉¡à ‰¥â ¡Ÿ≈§à“Àÿâπ ‰¡à‡°‘¥¢÷Èπ®√‘ß  ”√Õßµ“¡ ®—¥ √√ ‡ß‘π≈ß∑ÿπ„π °ÆÀ¡“¬ À≈—°∑√—æ¬å‡º◊ËÕ¢“¬

825,000,000.00 499,215,526.94

1,601,421.36

√«¡

19,486,056.58 1,218,847,863.52 2,564,150,868.40

√“¬°“√°”‰√ (¢“¥∑ÿπ) ∑’ˬ—߉¡à‡°‘¥¢÷Èπ®√‘ß „πÀ≈—°∑√—æ¬å‡º◊ËÕ¢“¬

-

√“¬°“√°”‰√∑’ˬ—߉¡à√—∫√Ÿâ„πß∫°”‰√¢“¥∑ÿπ

-

825,000,000.00 499,215,526.94

(964,443.37) 636,977.99

-

-

(964,443.37)

19,486,056.58 1,218,847,863.52 2,563,186,425.03

 ”√Õßµ“¡°ÆÀ¡“¬

16

-

-

-

‡ß‘πªíπº≈®à“¬

17

-

-

-

(272,250,000.00) (272,250,000.00)

-

-

-

580,476,293.41

°”‰√ ÿ∑∏‘ ¬Õ¥§ß‡À≈◊Õ ≥ «—π∑’Ë 31 ∏—𫓧¡ 2547

825,000,000.00 499,215,526.94

636,977.99

39,219,896.39

(39,219,896.39)

580,476,293.41

58,705,952.97 1,487,854,260.54 2,871,412,718.44

√“¬°“√°”‰√(¢“¥∑ÿπ)∑’ˬ—߉¡à‡°‘¥¢÷Èπ®√‘ß „πÀ≈—°∑√—æ¬å‡º◊ËÕ¢“¬

-

√“¬°“√°”‰√∑’ˬ—߉¡à√—∫√Ÿâ„πß∫°”‰√¢“¥∑ÿπ

-

825,000,000.00 499,215,526.94

(434,086.38) 202,891.61

-

-

(434,086.38)

58,705,952.97 1,487,854,260.54 2,870,978,632.06

 ”√Õßµ“¡°ÆÀ¡“¬

16

-

-

-

‡ß‘πªíπº≈®à“¬

17

-

-

-

(371,250,000.00) (371,250,000.00)

-

-

-

692,626,106.77

°”‰√ ÿ∑∏‘ ¬Õ¥§ß‡À≈◊Õ ≥ «—π∑’Ë 31 ∏—𫓧¡ 2548

54 √“¬ß“πª√–®”ªï 2548 ∫√‘ …— ∑ ≈≈‘ ≈ æ√Á Õ æ‡æÕ√å µ’È ®”°— ¥ (¡À“™π)

825,000,000.00 499,215,526.94

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

202,891.61

29,023,814.67

(29,023,814.67)

692,626,106.77

87,729,767.64 1,780,206,552.64 3,192,354,738.83


Statements of Changes in Shareholders’ Equity LALIN PROPERTY PUBLIC COMPANY LIMITED

For the Years ended on December 31, 2005 and 2004

( Unit : Baht )  

 

Note

Balance as of December 31, 2003

Issued and Paid-up Share Capital 825,000,000.00

Premiums on Share Capital 499,215,526.94

Unrealized Gain (Loss) Securities Available For Sale 1,601,421.36

Retained Earnings Appropriated Unappropriated Legal Reserve

Total

19,486,056.58 1,218,847,863.52 2,564,150,868.40

Unrealized Gain (Loss) Securities Available for Sale

-

Unrealized Amount in the Statements of Income

825,000,000.00

499,215,526.94

(964,443.37) 636,977.99

-

-

19,486,056.58 1,218,847,863.52

16

-

-

-

Payment for Dividends

17

-

-

-

(272,250,000.00)

(272,250,000.00)

-

-

-

580,476,293.41

580,476,293.41

Balance as of December 31, 2004

825,000,000.00

499,215,526.94

636,977.99

(39,219,896.39)

2,563,186,425.03

Legal Reserve

Net Profit

39,219,896.39

(964,443.37)

-

58,705,952.97 1,487,854,260.54 2,871,412,718.44

Unrealized Gain (Loss) Securities Available for Sale

-

Unrealized Amount in the Statements of Income

825,000,000.00

499,215,526.94

(434,086.38) 202,891.61

-

-

58,705,952.97 1,487,854,260.54

16

-

-

-

Payment for Dividends

17

-

-

-

(371,250,000.00)

(371,250,000.00)

-

-

-

692,626,106.77

692,626,106.77

Balance as of December 31, 2005

825,000,000.00

499,215,526.94

202,891.61

(29,023,814.67)

2,870,978,632.06

Legal Reserve

Net Profit

29,023,814.67

(434,086.38)

-

87,729,767.64 1,780,206,552.64 3,192,354,738.83

Notes to the financial statements are an integral part of these statements.

55 Annual Report 2005 Lalin Property Public Company Limited


ß ∫ ° √ – ·   ‡ ß‘ π   ¥ ∫√‘…—∑ ≈≈‘≈ æ√ÁÕæ‡æÕ√åµ’È ®”°—¥ (¡À“™π)

 ”À√—∫ªï ‘Èπ ÿ¥«—π∑’Ë 31 ∏—𫓧¡ 2548 ·≈– 2547 (Àπ૬ : ∫“∑) À¡“¬‡Àµÿ

°√–· ‡ß‘π ¥®“°°‘®°√√¡¥”‡π‘πß“π °”‰√ ÿ∑∏‘ ª√—∫°√–∑∫°”‰√ ÿ∑∏‘‡ªìπ‡ß‘π ¥√—∫ (®à“¬) ®“°°“√¥”‡π‘πß“π §à“‡ ◊ËÕ¡√“§“ Àπ’È ß —¬®– Ÿ≠(‚Õπ°≈—∫) (°”‰√) ¢“¥∑ÿπ®“°°“√¢“¬À≈—°∑√—æ¬å‡º◊ËÕ¢“¬ (°”‰√) ¢“¥∑ÿπ®“°°“√¢“¬ ‘π∑√—æ¬å (°”‰√) ¢“¥∑ÿπ®“°‰ø‰À¡â ‘π∑√—æ¬å (°”‰√) ¢“¥∑ÿπ®“°∑√—æ¬å ‘π Ÿ≠À“¬ §à“∏√√¡‡π’¬¡„π°“√ÕÕ°Àÿâπ°Ÿâµ—¥®à“¬ √“¬‰¥â§à“∫√‘°“√ à«π°≈“ßµ—¥∫—≠™’ ¢“¥∑ÿπ®“°°“√¢“¬∫â“πµ—«Õ¬à“ß °”‰√®“°°“√¥”‡π‘πß“π°àÕπ°“√‡ª≈’ˬπ·ª≈ß „π ‘π∑√—æ¬å·≈–Àπ’È ‘𥔇π‘πß“π (‡æ‘Ë¡¢÷Èπ) ≈¥≈ß„π≈Ÿ°Àπ’È°“√§â“·≈–µ—Ϋ‡ß‘π√—∫ (‡æ‘Ë¡¢÷Èπ) ≈¥≈ß„π ‘π§â“§ß‡À≈◊Õ (‡æ‘Ë¡¢÷Èπ) ≈¥≈ß„π ‘π∑√—æ¬åÀ¡ÿπ‡«’¬πÕ◊Ëπ (‡æ‘Ë¡¢÷Èπ) ≈¥≈ß„π ‘π∑√—æ¬å‰¡àÀ¡ÿπ‡«’¬πÕ◊Ëπ ‡æ‘Ë¡¢÷Èπ (≈¥≈ß) „π‡™Á§®à“¬≈ß«—π∑’Ë≈à«ßÀπâ“ ‡æ‘Ë¡¢÷Èπ (≈¥≈ß) „πµ—Ϋ‡ß‘π®à“¬§à“∑’Ë¥‘π ‡æ‘Ë¡¢÷Èπ (≈¥≈ß) „π‡®â“Àπ’È°“√§â“ ‡æ‘Ë¡¢÷Èπ (≈¥≈ß) „π√“¬‰¥â√—∫≈à«ßÀπâ“ ‡æ‘Ë¡¢÷Èπ (≈¥≈ß) „π¿“…’‡ß‘π‰¥â𑵑∫ÿ§§≈§â“ß®à“¬ ‡æ‘Ë¡¢÷Èπ (≈¥≈ß) „π§à“„™â®à“¬§â“ß®à“¬ ‡æ‘Ë¡¢÷Èπ (≈¥≈ß) „πÀπ’È ‘πÀ¡ÿπ‡«’¬πÕ◊Ëπ ‡æ‘Ë¡¢÷Èπ (≈¥≈ß) „πÀπ’È ‘π‰¡àÀ¡ÿπ‡«’¬πÕ◊Ëπ ‡ß‘π ¥ ÿ∑∏‘‰¥â¡“ („™â‰ª) ®“°°‘®°√√¡¥”‡π‘πß“π

56 √“¬ß“πª√–®”ªï 2548 ∫√‘ …— ∑ ≈≈‘ ≈ æ√Á Õ æ‡æÕ√å µ’È ®”°— ¥ (¡À“™π)

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

2548

2547

692,626,106.77

580,476,293.41

21,756,227.24 (4,538,288.50) (71,200.83) 1,580,746.56 -

22,622,550.47 (16,752.68) (5,895,810.25) 1,774,763.68 214,877.86 6,971.84 (23,610.33) 172,346.63

711,353,591.24 10,968,831.00 17,256,495.21 (863,818.42) (7,176,642.29) (8,218,335.30) 3,494,431.67 (3,518,200.00) 18,237,437.21 14,118,214.74 8,060,892.42 763,712,897.48

599,331,630.63 (18,980,631.00) (1,150,912,925.96) (5,094,481.36) (6,733,439.52) (23,418,312.97) (61,524,168.00) 6,165,436.95 (2,203,900.00) (56,133,731.31) 15,891,833.43 65,098,155.67 (44,762,702.51) (683,277,235.95)


Cash Flow Statements LALIN PROPERTY PUBLIC COMPANY LIMITED

For the Years ended on December 31, 2005 and 2004

(Unit : Baht)

2005

2004

692,626,106.77

580,476,293.41

21,756,227.24

22,622,550.47

CASH FLOW FROM OPERATING ACTIVITIES Net Profit Adjustment to Net Profit for Cash Received (Paid) from Operations Depreciation Doubtful Debts (Reverse)

-

(16,752.68)

(Profit) Loss from Disposal of Securities Available for Sale (Profit) Loss from Disposal of Fixed Assets

(4,538,288.50)

(5,895,810.25)

(71,200.83)

1,774,763.68

(Profit) Loss from Fire Assets

-

214,877.86

(Profit) Loss from Damaged Assets

-

6,971.84

Deferred Debenture Fee

1,580,746.56

-

Deferred Central Management Fee

-

(23,610.33)

Loss from Sale Demonstration House

-

172,346.63

Profit from Operating Activities before Change in Operating Assets and Liabilities

711,353,591.24

599,331,630.63

(Increase) Decrease in Account Receivable and Notes

10,968,831.00

(18,980,631.00)

(Increase) Decrease in Inventories

17,256,495.21

(1,150,912,925.96)

(Increase) Decrease in Other Current Assets

(863,818.42)

(5,094,481.36)

(Increase) Decrease in Other Non-Current Assets

(7,176,642.29)

(6,733,439.52)

Increase (Decrease) in Notes Payable

(8,218,335.30)

(23,418,312.97)

Increase (Decrease) in Notes Payable - Land Fee

-

(61,524,168.00)

Increase (Decrease) in Accounts Payable

3,494,431.67

6,165,436.95

Increase (Decrease) in Deferred Revenue

(3,518,200.00)

(2,203,900.00)

Increase (Decrease) in Accrued Corporate Income Tax

18,237,437.21

(56,133,731.31)

Increase (Decrease) in Accrued Expense

14,118,214.74

15,891,833.43

8,060,892.42

65,098,155.67

Increase (Decrease) in Other Current Liabilities Increase (Decrease) in Other Non-Current Liabilities Cash Received (Used) from Operating Activities-Net

763,712,897.48

Notes to the financial statements are an integral part of these statements.

(44,762,702.51) (683,277,235.95)

57 Annual Report 2005 Lalin Property Public Company Limited


ß ∫ ° √ – ·   ‡ ß‘ π   ¥ ∫√‘…—∑ ≈≈‘≈ æ√ÁÕæ‡æÕ√åµ’È ®”°—¥ (¡À“™π)

 ”À√—∫ªï ‘Èπ ÿ¥«—π∑’Ë 31 ∏—𫓧¡ 2548 ·≈– 2547 (Àπ૬ : ∫“∑) 2548

°√–· ‡ß‘π ¥®“°°‘®°√√¡≈ß∑ÿπ ´◊ÈÕ ‘π∑√—æ¬å∂“«√ ¢“¬ ‘π∑√—æ¬å ´◊ÈՇߑπ≈ß∑ÿπ„πÀ≈—°∑√—æ¬å‡º◊ËÕ¢“¬ ¢“¬‡ß‘π≈ß∑ÿπ„πÀ≈—°∑√—æ¬å‡º◊ËÕ¢“¬ (‡æ‘Ë¡¢÷Èπ) ≈¥≈ß„π∑’Ë¥‘π√Õ°“√æ—≤π“ ‡ß‘π ¥ ÿ∑∏‘‰¥â¡“ („™â‰ª) ®“°°‘®°√√¡≈ß∑ÿπ °√–· ‡ß‘π ¥®“°°‘®°√√¡®—¥À“‡ß‘π ‡æ‘Ë¡¢÷Èπ (≈¥≈ß) „π‡ß‘π‡∫‘°‡°‘π∫—≠™’ ·≈–‡ß‘π°Ÿâ¬◊¡√–¬– —Èπ®“° ∂“∫—π°“√‡ß‘π √—∫‡ß‘π°Ÿâ¬◊¡√–¬–¬“« ®à“¬™”√–‡ß‘π°Ÿâ¬◊¡√–¬–¬“« ‡æ‘Ë¡¢÷Èπ„πÀÿâπ°Ÿâ ®à“¬‡ß‘πªíπº≈ ‡ß‘π ¥ ÿ∑∏‘‰¥â¡“ („™â‰ª) ®“°°‘®°√√¡®—¥À“‡ß‘π ‡ß‘π ¥·≈–√“¬°“√‡∑’¬∫‡∑à“‡ß‘π ¥‡æ‘Ë¡¢÷Èπ(≈¥≈ß) ÿ∑∏‘ ‡ß‘π ¥·≈–√“¬°“√‡∑’¬∫‡∑à“‡ß‘π ¥µâπß«¥ ‡ß‘π ¥·≈–√“¬°“√‡∑’¬∫‡∑à“‡ß‘π ¥ª≈“¬ß«¥ ¢âÕ¡Ÿ≈°√–· ‡ß‘𠥇ªî¥‡º¬‡æ‘Ë¡‡µ‘¡ 1. ‡ß‘π ¥®à“¬√–À«à“ßß«¥ 1.1 ¥Õ°‡∫’Ȭ®à“¬∑’Ë∫—π∑÷°‡ªìπ§à“„™â®à“¬ 1.2 ¥Õ°‡∫’Ȭ®à“¬∑’Ë∫—π∑÷°‡ªìπµâπ∑ÿπ ‘π§â“ 1.3 ¿“…’‡ß‘π‰¥â𑵑∫ÿ§§≈ 2. ‡ß‘π ¥·≈–√“¬°“√‡∑’¬∫‡∑à“‡ß‘π ¥ 2.1 ‡ß‘π ¥ 2.2 ‡ß‘πΩ“°∏𓧓√ª√–‡¿∑°√–· √“¬«—π 2.3 ‡ß‘πΩ“°∏𓧓√ª√–‡¿∑ÕÕ¡∑√—æ¬å 2.4 µ—Ϋ‡ß‘π§≈—ßÕ“¬ÿ 45 «—π √«¡‡ß‘π ¥·≈–√“¬°“√‡∑’¬∫‡∑à“‡ß‘π ¥

58 √“¬ß“πª√–®”ªï 2548 ∫√‘ …— ∑ ≈≈‘ ≈ æ√Á Õ æ‡æÕ√å µ’È ®”°— ¥ (¡À“™π)

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

2547

(10,692,196.69) 328,067.97 (1,505,000,000.00) 1,465,310,971.35 (321,234,366.00) (371,287,523.37)

(6,203,156.71) 650,000.00 (2,107,000,000.00) 2,619,000,000.00 (147,491,965.70) 358,954,877.59

75,969,006.61 244,500,000.00 (200,900,000.00) (371,271,980.70) (251,702,974.09) 140,722,400.02 13,719,546.37 154,441,946.39

(201,382,087.07) 167,840,000.00 (170,840,000.00) 800,000,000.00 (272,115,972.91) 323,501,940.02 (820,418.34) 14,539,964.71 13,719,546.37

29,041,101.75 20,482,383.79 212,973,788.38

10,544,106.71 12,320,166.02 249,870,397.86

4,186,348.02 42,459.06 213,139.31 150,000,000.00 154,441,946.39

5,709,183.95 41,700.00 7,968,662.42 13,719,546.37


Cash Flow Statements LALIN PROPERTY PUBLIC COMPANY LIMITED

For the Years ended on December 31, 2005 and 2004

(Unit : Baht)

2005

2004

CASH FLOW FROM INVESTING ACTIVITIES Purchase of Fixed Assets Sale of Fixed Assets

(10,692,196.69)

(6,203,156.71)

328,067.97

650,000.00

Purchase of Investment in Securities Available for Sale Sale of Investment in Securities Available for Sale (Increase) Decrease in Land Awaiting Development Cash Received (Used) from Investing Activities-Net

(1,505,000,000.00)

(2,107,000,000.00)

1,465,310,971.35

2,619,000,000.00

(321,234,366.00)

(147,491,965.70)

(371,287,523.37)

358,954,877.59

75,969,006.61

(201,382,087.07)

244,500,000.00

167,840,000.00

(200,900,000.00)

(170,840,000.00)

CASH FLOW FROM FINANCING ACTIVITIES Increase (Decrease) in Bank Overdraft and Short-term Loans from Financial Institutions Cash Received for Long - term Loans Payment for Long - term Loans Payment for Debenture Fee Payment for Dividends Cash Received (Used) from Financing Activities-Net Cash on Hand and Cash Equivalent Increase(Decrease)-Net Cash on Hand and Cash Equivalent at Beginning of the Period

-

800,000,000.00

(371,271,980.70)

(272,115,972.91)

(251,702,974.09)

323,501,940.02

140,722,400.02

(820,418.34)

13,719,546.37

14,539,964.71

154,441,946.39

13,719,546.37

1.1 Interest Expense Accounted as Expenses

29,041,101.75

10,544,106.71

1.2 Interest Expense Accounted as Cost of Inventories

20,482,383.79

12,320,166.02

212,973,788.38

249,870,397.86

4,186,348.02

5,709,183.95

2.2 Current Accounts

42,459.06

41,700.00

2.3 Saving Accounts

213,139.31

7,968,662.42

Cash on Hand and Cash Equivalent at Ending of the Period Additional Disclosure of Cash Flow : 1.

Cash Payment during the Period

1.3 Corporate Income Tax 2.

Cash and Cash Equivalent Items 2.1 Cash

2.4 Treasury Bill within 45 days Total Cash and Cash Equivalent Items

150,000,000.00 154,441,946.39

Notes to the financial statements are an integral part of these statements.

13,719,546.37

59 Annual Report 2005 Lalin Property Public Company Limited


À ¡ “ ¬ ‡ À µÿ ª √ – ° Õ ∫ ß ∫ ° “ √ ‡ ß‘ π ∫√‘…—∑ ≈≈‘≈ æ√ÁÕæ‡æÕ√åµ’È ®”°—¥ (¡À“™π)

«—π∑’Ë 31 ∏—𫓧¡ 2548 ·≈– 2547 1. À≈—°‡°≥±å „π°“√®—¥∑”ß∫°“√‡ß‘π

1.1 ∫√‘…—∑œ ‰¥â®—¥∑”ß∫°“√‡ß‘π¢÷Èπµ“¡À≈—°°“√∫—≠™’∑’Ë√—∫√Õß∑—Ë«‰ª¿“¬„µâæ√–√“™∫—≠≠—µ‘°“√∫—≠™’ æ.». 2543 ´÷Ëß√«¡∂÷ß ¡“µ√∞“π°“√∫—≠™’∑’ËÕÕ°¿“¬„µâæ√–√“™∫—≠≠—µ‘«‘™“™’æ æ.». 2547 ·≈–°“√®—¥√“¬°“√„πß∫°“√‡ß‘π‡ªìπ‰ªµ“¡ª√–°“»°√¡ ∑–‡∫’¬π°“√§â“‡√◊ËÕß °”Àπ¥ √“¬°“√¬àÕ∑’˵âÕß¡’„πß∫°“√‡ß‘π æ.». 2544 ·≈–µ“¡¢âÕ°”Àπ¥¢Õߧ≥–°√√¡°“√°”°—∫À≈—° ∑√—æ¬å·≈–µ≈“¥À≈—°∑√—æ¬å«à“¥â«¬°“√®—¥∑”·≈–𔇠πÕ√“¬°“√∑“ß°“√‡ß‘π 1.2 „π°“√®—¥∑”ß∫°“√‡ß‘π‡æ◊ËÕ„À⇪ìπ‰ªµ“¡À≈—°°“√∫—≠™’∑’Ë√—∫√Õß∑—Ë«‰ª ΩÉ“¬®—¥°“√¢Õß∫√‘…—∑œ µâÕß„™â°“√ª√–¡“≥·≈–¢âÕ  ¡¡µ‘∞“πÀ≈“¬ª√–°“√´÷Ëß¡’º≈°√–∑∫µàÕ®”π«π‡ß‘π∑’ˇ°’ˬ«°—∫√“¬‰¥â §à“„™â®à“¬  ‘π∑√—æ¬å ·≈–Àπ’È ‘π ·≈–°“√‡ªî¥‡º¬ ¢âÕ¡Ÿ≈‡°’ˬ«°—∫ ‘π∑√—æ¬å ·≈–Àπ’È ‘π∑’ËÕ“®‡°‘¥¢÷Èπ ´÷Ëߺ≈∑’ˇ°‘¥¢÷Èπ®√‘ßÕ“®·µ°µà“߉ª®“°®”π«π∑’ˉ¥âª√–¡“≥‰«â 1.3 °“√®—¥ª√–‡¿∑√“¬°“√∑“ß∫—≠™’„À¡à ‡æ◊ËÕª√–‚¬™πå„π°“√‡ª√’¬∫‡∑’¬∫·≈–‡æ◊ËÕ„Àâ Õ¥§≈âÕß°—∫°“√®—¥ª√–‡¿∑√“¬°“√∫—≠™’¢Õßß«¥ªí®®ÿ∫—π ∫√‘…—∑œ ‰¥â¡’°“√®—¥ ª√–‡¿∑√“¬°“√∫—≠™’„πß∫°“√‡ß‘π ≥ «—π∑’Ë 31 ∏—𫓧¡ 2547 „À¡à ´÷Ë߉¡à¡’º≈°√–∑∫µàÕ°”‰√ ÿ∑∏‘À√◊Õ à«π¢ÕߺŸâ∂◊ÕÀÿâ𠵓¡∑’Ë√“¬ß“π‰ª·≈â« ‚¥¬¡’√“¬≈–‡Õ’¬¥¥—ßπ’È ∫“∑

‡ß‘π°Ÿâ¬◊¡√–¬– —Èπ ‡ß‘π‡∫‘°‡°‘π∫—≠™’·≈–‡ß‘π°Ÿâ¬◊¡√–¬– —Èπ®“° ∂“∫—π°“√‡ß‘π Àπ’È ‘π‰¡àÀ¡ÿπ‡«’¬πÕ◊Ëπ Àπ’È ‘πÀ¡ÿπ‡«’¬πÕ◊Ëπ ß“π√–À«à“ß∑”‡§√◊ËÕßµ°·µàß ß“π√–À«à“ß∑”‡§√◊ËÕßµ°·µàß-  ‘π§â“§ß‡À≈◊Õ  ‘π∑√—æ¬åÀ¡ÿπ‡«’¬πÕ◊Ëπ -  ÿ∑∏‘  ‘π∑√—æ¬å‰¡àÀ¡ÿπ‡«’¬πÕ◊Ëπ -  ÿ∑∏‘  ‘π§â“ ‘π§ß‡À≈◊Õ ∑’Ë¥‘π√Õ°“√æ—≤π“

≈¥≈ß ‡æ‘Ë¡¢÷Èπ ≈¥≈ß ‡æ‘Ë¡¢÷Èπ ≈¥≈ß ‡æ‘Ë¡¢÷Èπ ≈¥≈ß ‡æ‘Ë¡¢÷Èπ ≈¥≈ß ‡æ‘Ë¡¢÷Èπ

(165,000,0000.00) 165,000,000.00 (59,503,626.99) 59,503,626.99 (697,875.00) 697,875.00 (2,086,684.12) 2,086,684.12 (147,491,965.70) 147,491,965.70

1.4 ‡æ◊ËÕ§«“¡ –¥«°¢ÕߺŸâ„™âß∫°“√‡ß‘π¢Õß∫√‘…—∑œ ®÷߉¥â¡’°“√·ª≈ß∫°“√‡ß‘π‡ªìπ¿“…“Õ—ß°ƒ…®“°ß∫°“√‡ß‘π∑’Ë®—¥∑”‡ªìπ ¿“…“‰∑¬

60 √“¬ß“πª√–®”ªï 2548 ∫√‘ …— ∑ ≈≈‘ ≈ æ√Á Õ æ‡æÕ√å µ’È ®”°��� ¥ (¡À“™π)


Notes to Financial Statements LALIN PROPERTY PUBLIC COMPANY LIMITED AS OF DECEMBER 31, 2005 AND 2004

1. Basis of Financial Statements Preparation 1.1

The financial statement were prepared in accordance with the generally accepted accounting principle under the Accounting Act B.E. 2543 being those Thai Accounting Standards under the Accounting Professional Act B.E. 2547, and the financial statement in compliance with the notification of the Department of Commercial Registration, “Define the abbreviation component required in the financial statements, B.E. 2544 and in accordance with the determination of the Securities and Exchange Committee on the subject of preparation and presentation of the financial reports.

1.2

In order to prepare the financial statements to comply with generally accepted accounting standards, the company’s management had to make some estimates and suppositions which may have an effect on the amount shown for revenue, expenses, assets and liabilities and also on the disclosures concerning assets and contingent liabilities, therefore the actual result may differ the estimated amount.

1.3

Presented for comparison are reclassified These financial statements as of December 31, 2004 were reclassified accounting items in order to comparing the financial statements as of December 31, 2005 which no affected to profit or equity as reported, as follows :

Baht

1.4

Short-term Loans

decrease

(165,000,0000.00)

Bank Overdraft and Short-term Loans from Financial Institute

increase

165,000,000.00

Other Non- Current Liabilities

decrease

(59,503,626.99)

Other Current Liabilities

increase

59,503,626.99

Work in process- Furniture

decrease

(697,875.00)

Work in process- Furniture (Inventories)

increase

697,875.00

Other Current Assets - Net

decrease

(2,086,684.12)

Other Non-Current Assets - Net

increase

2,086,684.12

Inventories

decrease

(147,491,965.70)

Land Awaiting Development

Increase

147,491,965.70

For the convenience of the user, an English translation of the financial statements has been prepared from the statutory financial statements that are issued in the Thai language.

61 Annual Report 2005 Lalin Property Public Company Limited


2. ¢âÕ¡Ÿ≈∑—Ë«‰ª

∫√‘…—∑œ ®¥∑–‡∫’¬π‡ªìπ𑵑∫ÿ§§≈µ“¡ª√–¡«≈°ÆÀ¡“¬·æàß·≈–æ“≥‘™¬å ª√–‡¿∑∫√‘…—∑ ®”°—¥ ‡¡◊ËÕ«—π∑’Ë 8 惻®‘°“¬π 2531 ∑–‡∫’¬π𑵑∫ÿ§§≈‡≈¢∑’Ë 8781/2531 ·≈–∫√‘…—∑‰¥â·ª√ ¿“懪ìπ∫√‘…—∑¡À“™π®”°—¥ ‡¡◊ËÕ«—π∑’Ë 3 °—𬓬π 2545 ∑–‡∫’¬π 𑵑∫ÿ§§≈„À¡à ‡≈¢∑’Ë 40854500696 ‚¥¬¡’ ”π—°ß“π„À≠à µ—ÈßÕ¬Ÿà‡≈¢∑’Ë 222/2 ∂ππ»√’π§√‘π∑√å ·¢«ßÀ—«À¡“° ‡¢µ∫“ß°–ªî °√ÿ߇∑æ¡À“π§√ ‚¥¬¡’∏ÿ√°‘®À≈—° §◊Õ °“√æ—≤π“Õ —ßÀ“√‘¡∑√—æ¬å ∫√‘…—∑œ ¡’¢âÕ¡Ÿ≈‡°’ˬ«°—∫æπ—°ß“π ¥—ßπ’È 2548

®”π«πæπ—°ß“πª√–®”·≈–™—Ë«§√“«∂—«‡©≈’ˬ (§π) §à“„™â®à“¬‡°’ˬ«°—∫æπ—°ß“π (≈â“π∫“∑)  ”À√—∫ªï  ‘Èπ ÿ¥«—π∑’Ë 31 ∏—𫓧¡

2547

192

180

74.39

66.61

3.  √ÿªπ‚¬∫“¬°“√∫—≠™’∑’Ë ”§—≠

3.1 °“√√—∫√Ÿâ√“¬‰¥â ∫√‘…—∑œ √—∫√Ÿâ√“¬‰¥â®“°°“√¢“¬∫â“πæ√âÕ¡∑’Ë¥‘π ‡¡◊ËÕß“π°àÕ √â“߇ √Á®µ“¡ —≠≠“ ·≈–¡’°“√‚Õπ°√√¡ ‘∑∏‘Ï ·°àºŸâ´◊ÈÕÀ≈—ß®“°‰¥â√—∫™”√–®“°ºŸâ´◊ÈÕ§√∫∂â«π·≈â« 3.2 µâπ∑ÿπ¢“¬ ∫√‘…—∑œ √—∫√Ÿâµâπ∑ÿπ¢“¬∫â“πæ√âÕ¡∑’Ë¥‘π ‚¥¬∫√‘…—∑‰¥â∑”°“√·∫àß √√µâπ∑ÿπ°“√æ—≤π“∑—ÈßÀ¡¥∑’˧“¥«à“®–‡°‘¥¢÷Èπ (‚¥¬§”π÷ß∂÷ßµâπ∑ÿπ∑’ˇ°‘¥¢÷Èπ®√‘ߥ⫬) „Àâ°—∫∫â“πæ√âÕ¡∑’Ë¥‘π∑’Ë¢“¬µ“¡Õ—µ√“ à«πæ◊Èπ∑’Ë∑’Ë¢“¬¢Õß·µà≈–‚§√ß°“√ ·≈–√—∫√Ÿâ‡ªìπ µâπ∑ÿπ¢“¬µ“¡√“¬‰¥â®“°°“√¢“¬∑’ˉ¥â∫—π∑÷°‰«â 3.3 ‡ß‘π ¥·≈–√“¬°“√‡∑’¬∫‡∑à“‡ß‘π ¥√«¡‡ß‘πΩ“°∏𓧓√ª√–‡¿∑ÕÕ¡∑√—æ¬å °√–· √“¬«—π·≈–ª√–®”‰¡à‡°‘π 3 ‡¥◊Õπ∑’ˉ¡àµ‘¥ ¿“√–§È”ª√–°—π 3.4  ‘π§â“§ß‡À≈◊Õ · ¥ß¡Ÿ≈§à“µ“¡√“§“∑ÿπÀ√◊Õ¡Ÿ≈§à“ ÿ∑∏‘∑’Ë®–‰¥â√—∫·≈â«·µà√“§“„¥®–µË”°«à“ ‘π§â“§ß‡À≈◊Õ ª√–°Õ∫¥â«¬ ∑’Ë¥‘π §à“æ—≤π“∑’Ë¥‘π §à“ “∏“√≥Ÿª‚¿§µà“ßÊ §à“°àÕ √â“ß·≈–¥Õ°‡∫’Ȭ‡ß‘π°Ÿâ¬◊¡∑’ˇ°’ˬ«¢âÕß ‚¥¬®–µ—¥®à“¬‡ªìπµâπ∑ÿπ¢“¬µ“¡Õ—µ√“  à«πæ◊Èπ∑’Ë∑’Ë¢“¬¢Õß·µà≈–‚§√ß°“√ 3.5 ‡ß‘π≈ß∑ÿπ„πÀ≈—°∑√—æ¬å‡º◊ËÕ¢“¬∑’ˇªìπ‡ß‘π≈ß∑ÿπ„πµ√“ “√∑ÿπ„𧫓¡µâÕß°“√¢Õßµ≈“¥ ´÷Ëß∫√‘…—∑∂◊Õ‡ªìπÀ≈—°∑√—æ¬å‡º◊ËÕ¢“¬ · ¥ß¥â«¬¡Ÿ≈§à“¬ÿµ‘∏√√¡ °”‰√À√◊Õ¢“¥∑ÿπ∑’ˬ—߉¡à‡°‘¥®“°°“√ª√—∫¡Ÿ≈§à“‡ß‘π≈ß∑ÿπ· ¥ß¿“¬„µâ à«π¢ÕߺŸâ∂◊ÕÀÿâπ 3.6 ∑’Ë¥‘π Õ“§“√ ·≈–Õÿª°√≥å ≥ «—π‡√‘Ë¡√“¬°“√· ¥ß„π√“§“∑ÿπÀ—°¥â«¬§à“‡ ◊ËÕ¡√“§“ – ¡ ·≈–§”π«≥§à“‡ ◊ËÕ¡√“§“‚¥¬«‘∏’ ‡ âπµ√ß (Straight Line) µ“¡Õ“¬ÿ°“√„™âß“π‚¥¬ª√–¡“≥ ¥—ßπ’È Õ“§“√ ”π—°ß“π 20 ªï Õ“§“√ ”π—°ß“π¢“¬ 5 ªï µŸâ§Õπ‡∑π‡πÕ√å 5 ªï  “∏“√≥Ÿª‚¿§ Õ“§“√ ‚¡ √  «πÀ¬àÕ¡  π“¡‡¥Á°‡≈àπ 5 ªï ¬“πæ“Àπ– 5 - 10 ªï ‡§√◊ËÕßµ°·µàß ”π—°ß“π 5 ªï ‡§√◊ËÕß„™â ”π—°ß“π 5 ªï √–∫∫§Õ¡æ‘«‡µÕ√å 5 ªï

62 √“¬ß“πª√–®”ªï 2548 ∫√‘ …— ∑ ≈≈‘ ≈ æ√Á Õ æ‡æÕ√å µ’È ®”°— ¥ (¡À“™π)


2. General Information LALIN PROPERTY PUBLIC COMPANY LIMITED was registered under the Civil and Commercial Code as a corporate entity, registration number 8781/2531 on November 8, 1988 and convert to The Public Company Limited held on September 3, 2002, new registration number 40854500696. It is registered office located at 222/2 Srinakharin Road, Huamark, Bangkapi, Bangkok. Its principal activity is property development. The Company has information related employees are as follows:

2005 Average Permanent and Temporary Employees (number)

2004

192

180

74.39

66.61

Employees expense (million Baht) For the year ended on December 31

3. Summary of Significant Accounting Policy 3.1

Regarding the revenue recognition, revenue from sales of land and houses are recognized as revenue when the construction works are complete and the ownership is respectively transferred to buyers after all payments have been received from the buyers.

3.2

In respect of cost of goods sold, cost of land and house are recognized, the Company allocates cost of the entire development anticipated to incur (considering actual cost) to land plus house add in accordance with selling area of each project and recognized as cost of goods sold in accordance with the revenues from sales recorded.

3.3

Cash and equivalent to cash transactions includes bank deposit in type of saving , current and not exceeding three – month fixed deposit with no guarantee obligation.

3.4

Inventories to perform in accordance with cost or net realizable value whichever is lower. Inventory is composed of land, land development fee, various public utility, construction fee and related loan interest by written off as cost of goods sold proportional to selling area of each project.

3.5

Investment in securities available for sale is investment in marketable equity security over which the company held as security available for sales reflected by fair value. Unrealized gain (loss) from revalued investment were present under shareholders’ equity.

3.6

Property, plant and equipment, are recorded at cost after deducted accumulative depreciation. Depreciation of building and equipment are calculated on a straight-line method based on their approximate useful-life as follows: Office Building

20

Years

Sale Office Building

5

Years

Container

5

Years

Central Utilities, Clubhouses Building, Garden and Children Playing Yard

5

Years

5-10

Years

Office Furniture

5

Years

Office Equipment

5

Years

Computer Network and Call center

5

Years

Vehicles

63 Annual Report 2005 Lalin Property Public Company Limited


3.7

3.8 3.9 3.10

 ”À√—∫ “∏“√≥Ÿª‚¿§ Õ“§“√ ‚¡ √  «πÀ¬àÕ¡  π“¡‡¥Á°‡≈àπ ∑’Ë √â“ߢ÷Èπ°àÕπæ√–√“™∫—≠≠—µ‘°“√®—¥ √√∑’Ë¥‘π æ.». 2543 ¡’º≈∫—ߧ—∫„™â ∫√‘…—∑®–∫—π∑÷°‡ªìπ à«πÀπ÷ËߢÕß∑’Ë¥‘π Õ“§“√ ·≈–Õÿª°√≥å  à«π “∏“√≥Ÿª‚¿§ Õ“§“√ ‚¡ √  «πÀ¬àÕ¡  π“¡‡¥Á°‡≈àπ ∑’Ë √â“ߢ÷ÈπÀ≈—ß®“°æ√–√“™∫—≠≠—µ‘°“√®—¥ √√∑’Ë¥‘π æ.». 2543 ¡’º≈∫—ߧ—∫„™â ·≈–∫√‘…—∑· ¥ß‡®µπ“√¡¬å‡ªìπ ∫√‘°“√ “∏“√≥– ∫√‘…—∑®–∫—π∑÷°‡ªìπ à«πÀπ÷ËߢÕß ‘π§â“§ß‡À≈◊Õ ·≈–®–µ—¥®à“¬‡ªìπµâπ∑ÿπ¢“¬µ“¡Õ—µ√“ à«πæ◊Èπ∑’Ë∑’Ë¢“¬·µà≈– ‚§√ß°“√ ¥Õ°‡∫’¬È ®à“¬∑’∂Ë Õ◊ ‡ªìπµâπ∑ÿ𠇪ìπ¥Õ°‡∫’¬È ®à“¬∑’‡Ë °‘¥®“°°“√°Ÿ¬â ¡◊ ‡æ◊ÕË „À≥⡓´÷ßË ∑’¥Ë π‘ ·≈–‡æ◊ÕË °“√°àÕ √â“ß‚§√ß°“√µà“ßÊ ∫√‘…∑— ®–∫—π∑÷°‡ªìπ¥Õ°‡∫’¬È ®à“¬√Õµ—¥∫—≠™’ ·≈–∂◊Õ‡ªìπ à«πÀπ÷ßË ¢Õß ‘π§â“§ß‡À≈◊Õ¢Õß·µà≈–‚§√ß°“√ ‚¥¬®–À¬ÿ¥∫—π∑÷°‡¡◊ÕË ‚§√ß°“√ ‡ √Á® ¡∫Ÿ√≥å À√◊Õ‡¡◊ÕË ¡’°“√¢“¬À√◊Õ‡¡◊ÕË ‚§√ß°“√¡’ª≠í À“ ‡°‘¥°“√À¬ÿ¥™–ß—°≈ß®π°«à“®–¡’°“√¥”‡π‘π°“√æ—≤π“µàÕ‰ª  ”À√—∫ ¥Õ°‡∫’Ȭ®à“¬∑’ˇ°‘¥®“°°“√°Ÿâ¬◊¡‡æ◊ËÕ„À≥⡓´÷Ëß∑’Ë¥‘π√Õæ—≤π“ ‚¥¬∑’ˬ—߉¡à¡’°“√¥”‡π‘π°“√æ—≤π“„¥Ê ∫√‘…—∑®–∫—π∑÷°¥Õ°‡∫’Ȭ ®à“¬¥—ß°≈à“«‡ªìπ§à“„™â®à“¬„πß∫°”‰√¢“¥∑ÿ𠇧√◊ËÕß¡◊Õ∑“ß°“√‡ß‘π  ‘π∑√—æ¬å∑“ß°“√‡ß‘π∑’Ë· ¥ß„πß∫¥ÿ≈ª√–°Õ∫¥â«¬‡ß‘π ¥ ·≈–‡ß‘πΩ“°∏𓧓√ ‡ß‘π≈ß∑ÿπ ≈Ÿ°Àπ’È °“√§â“ Àπ’È ‘π∑“ß°“√‡ß‘π∑’Ë· ¥ß„πß∫¥ÿ≈ª√–°Õ∫¥â«¬‡®â“Àπ’È°“√§â“ ·≈–‡ß‘π°Ÿâ¬◊¡ ´÷Ëßπ‚¬∫“¬°“√∫—≠™’‡©æ“– ”À√—∫√“¬°“√ ·µà≈–√“¬°“√‰¥â‡ªî¥‡º¬·¬°‰«â„π·µà≈–À—«¢âÕ∑’ˇ°’ˬ«¢âÕß °”‰√ (¢“¥∑ÿπ) µàÕÀÿâπ¢—Èπæ◊Èπ∞“𠧔π«≥‚¥¬°“√À“√°”‰√ (¢“¥∑ÿπ)  ÿ∑∏‘ ¥â«¬®”π«π∂—«‡©≈’ˬ∂à«ßπÈ”Àπ—°¢ÕßÀÿâπ “¡—≠ ∑’ËÕÕ°·≈–‰¥â√—∫™”√–·≈â«„π√–À«à“ßß«¥ ´÷Ë߉¡à‰¥â§”π«≥°”‰√ (¢“¥∑ÿπ) µàÕÀÿâπª√—∫≈¥ ‡π◊ËÕß®“°∫√‘…—∑œ ‰¡à¡’Àÿâπ “¡—≠ ‡∑’¬∫‡∑à“ °“√®—¥ √√°”‰√ – ¡‡ªìπ‰ªµ“¡æ√–√“™∫—≠≠—µ‘ ∫√‘…—∑¡À“™π ®”°—¥ æ.». 2535 ‚¥¬∫√‘…—∑œ ®–®—¥ √√ ”√Õ߇¡◊ËÕ‰¥â√—∫ Õπÿ¡—µ‘®“°∑’˪√–™ÿ¡ºŸâ∂◊ÕÀÿâπ

4. ‡ß‘π ¥·≈–√“¬°“√‡∑’¬∫‡∑à“‡ß‘π ¥

≥ «—π∑’Ë 31 ∏—𫓧¡ 2548  à«πÀπ÷Ëß®”π«π 150 ≈â“π∫“∑ ‡ªìπ‡ß‘π≈ß∑ÿπ„π√Ÿª¢Õßµ—Ϋ‡ß‘π§≈—ß ‡ªìπµ—Ϋ∑’Ë¡’Õ“¬ÿ 45 «—π ‚¥¬¡’Õ—µ√“ ¥Õ°‡∫’Ȭ 3.27% µàÕªï 5.  ‘π§â“§ß‡À≈◊Õ

ª√–°Õ∫¥â«¬

∑’Ë¥‘π ∫â“πæ√âÕ¡∑’Ë¥‘π ß“π√–À«à“ß°àÕ √â“ß ¥Õ°‡∫’Ȭ√Õµ—¥∫—≠™’ §à“æ—≤π“∑’Ë¥‘π√Õµ—¥∫—≠™’  “∏“√≥Ÿª‚¿§√Õµ—¥∫—≠™’ ß“π√–À«à“ß∑”‡§√◊ËÕßµ°·µàß √«¡

64 √“¬ß“πª√–®”ªï 2548 ∫√‘ …— ∑ ≈≈‘ ≈ æ√Á Õ æ‡æÕ√å µ’È ®”°— ¥ (¡À“™π)

≥ «—π∑’Ë 31 ∏—𫓧¡ 2548 ∫“∑

31 ∏—𫓧¡ 2547 ∫“∑

642,121,038.12 1,201,524,821.96 593,614,452.14 41,797,020.06 254,368,231.46 694,349,968.30 16,675,061.47 3,444,450,593.51

1,013,077,252.68 906,301,976.72 574,308,842.39 32,899,676.34 313,803,728.01 620,617,737.58 697,875.00 3,461,707,088.72


For central utility, clubhouses building, garden and children playing yard which were built before the Land Allotment Act B.E. 2543 was enforceable. The Company will record as part of property, plant and equipment. On behalf of central utility, clubhouses building, garden and children playing yard which were built after the Land Allotment Act B.E. 2543 was enforceable and the company intended to was as public service, the Company will record as part of inventory and will write off as cost of goods sold in proportion to selling area of each project. 3.7

Interest expense capitalized as cost and interest expense incurred from loan to acquire land and to construct various projects are all accounted as deferred interest expense and regarded as part of inventory of each project. The Company will cease the record when the project is complete or sold or faced with problem of delay while the proceeding of further development incurs. For the interest incurred from loan to acquire land pending for development but not yet developed. The Company will record such interest expense as expense in the statement of income.

3.8

Financial instruments, financial assets were show in balance sheet composed of cash and cash at banks, investments, accounts receivable. Financial liabilities were shown in balance sheets composed of accounts payable and borrowings. The accounting policy of each items would be disclosed in separated items.

3.9

Primary earnings (loss) per share is calculated by dividing net profit (loss) for the period by the weighted average number of ordinary shares held by outside shareholders outstanding during the period. The company did not calculate of fully diluted earning (loss) per share because they are no common share equivalents.

3.10 The appropriation of retained earnings is attributable to the Public Company Act 2535 (1992). The Company will appropriate retained earnings when it is approved at the shareholders’ meeting.

4. Cash on Hand and Equivalent Items As of December 31, 2005, partly in amount of Baht 150 million which was the investment in form of treasury bill within 45 days with interest rate at 3.27 % per annum.

5. Inventories Consist of :

As of December 31, 2005 December 31, 2004 Baht Baht Land

642,121,038.12

1,013,077,252.68

1,201,524,821.96

906,301,976.72

593,614,452.14

574,308,842.39

41,797,020.06

32,899,676.34

Deferred Land Development

254,368,231.46

313,803,728.01

Deferred Utilities

694,349,968.30

620,617,737.58

16,675,061.47

697,875.00

3,444,450,593.51

3,461,707,088.72

Land and House Construction Deferred Interest

Work in process- Furniture Total

65 Annual Report 2005 Lalin Property Public Company Limited


≥ «—π∑’Ë 31 ∏—𫓧¡ 2548 ·≈– 2547 ∑’Ë¥‘πæ√âÕ¡ ‘Ëߪ≈Ÿ° √â“ß à«π„À≠à ‰¥â𔉪®¥®”πÕ߇ªìπÀ≈—°∑√—æ¬å§È”ª√–°—π ‘π‡™◊ËÕ∑’ˉ¥â √—∫®“°∏𓧓√æ“≥‘™¬åµ“¡À¡“¬‡Àµÿ 11 ‚¥¬ ≥ «—π∑’Ë 31 ∏—𫓧¡ 2548 ∑’Ë¥‘π∑’˵‘¥¿“√–®¥®”πÕß¡’¡Ÿ≈§à“ 1,316.89 ≈â“π∫“∑ 6.  ‘π∑√—æ¬åÀ¡ÿπ‡«’¬πÕ◊Ëπ -  ÿ∑∏‘

ª√–°Õ∫¥â«¬

≥ «—π∑’Ë 31 ∏—𫓧¡ 2548 ∫“∑

§à“„™â®à“¬®à“¬≈à«ßÀπâ“ ‡ß‘π∑¥≈Õß®à“¬ Õ◊ËπÊ √«¡ À—° §à“‡º◊ËÕÀπ’È ß —¬®– Ÿ≠-‡ß‘π∑¥√Õß®à“¬  ÿ∑∏‘

31 ∏—𫓧¡ 2547 ∫“∑

17,010,403.52 8,223,884.26 164,532.45 25,398,820.23 (740,114.03) 24,658,706.20

17,508,753.91 8,625,766.09 15,836.69 26,150,356.69 (774,722.35) 25,375,634.34

7. ‡ß‘π≈ß∑ÿπ„πÀ≈—°∑√—æ¬å‡º◊ËÕ¢“¬ -  ÿ∑∏‘

ª√–°Õ∫¥â«¬ ≥ «—π∑’Ë 31 ∏—𫓧¡ 2548 √“§“∑ÿπ √“§“¬ÿµ‘∏√√¡ ∫“∑ ∫“∑

°Õß∑ÿπ‡ªî¥ - ∑À“√‰∑¬∏π∫¥’ °Õß∑ÿπ‡ªî¥ - ∫—«À≈«ß∏π∑«’ √«¡

66 √“¬ß“πª√–®”ªï 2548 ∫√‘ …— ∑ ≈≈‘ ≈ æ√Á Õ æ‡æÕ√å µ’È ®”°— ¥ (¡À“™π)

11,818,883.70 296,000,000.00 307,818,883.70

11,960,127.02 296,060,424.22 308,020,551.24

31 ∏—𫓧¡ 2547 √“§“∑ÿπ √“§“¬ÿµ‘∏√√¡ ∫“∑ ∫“∑

263,590,342.28 263,590,342.28

264,227,320.47 264,227,320.47


As of December 31, 2005 and 2004, most of land were mortgaged as collateral against credit from commercial bank as in Note 11. As of December 31, 2005, land were mortgaged as collateral against credit in amount of Baht 1,316.89 million.

6. Other Current Assets - Net Consist of :

As of December 31, 2005 December 31, 2004 Baht Baht Prepaid Expenses

17,010,403.52

17,508,753.91

Advance Payment

8,223,884.26

8,625,766.09

164,532.45

15,836.69

25,398,820.23

26,150,356.69

Others Total Less Allowance for Doubtful Debt- Advance Payment

( 740,114.03)

Net

( 774,722.35)

24,658,706.20

25,375,634.34

7. Investment in Securities Available for Sale - Net Consist of :

As of December 31, 2005 Cost Fair value Baht Baht

December 31, 2004 Cost Fair value Baht Baht

Investment in the Open Fund - TMB Money Fund - Bualuang Thanatavee Total

11,818,883.70

11,960,127.02

296,000,000.00

296,060,424.22

307,818,883.70

308,020,551.24

263,590,342.28

264,227,320.47

263,590,342.28

264,227,320.47

67 Annual Report 2005 Lalin Property Public Company Limited


8. ∑’Ë¥‘π Õ“§“√ ·≈–Õÿª°√≥å -  ÿ∑∏‘

ª√–°Õ∫¥â«¬ ≥ «—π∑’Ë 31 ∏—𫓧¡ 2547 ∫“∑

√“§“∑ÿπ

∑’Ë¥‘π ∑’Ë¥‘π- ‚¡ √·≈– √–«à“¬πÈ” Õ“§“√ Õ“§“√- ‚¡ √·≈– √–«à“¬πÈ” ‡§√◊ËÕß„™â ”π—°ß“𠇧√◊ËÕßµ°·µàß ”π—°ß“𠬓πæ“Àπ– µŸâ§Õπ‡∑π‡πÕ√å  ”π—°ß“π¢“¬ √–∫∫§Õ¡æ‘«‡µÕ√å √«¡√“§“∑ÿπ §à“‡ ◊ËÕ¡√“§“ – ¡ Õ“§“√ Õ“§“√- ‚¡ √·≈– √–«à“¬πÈ” ‡§√◊ËÕß„™â ”π—°ß“𠇧√◊ËÕßµ°·µàß ”π—°ß“𠬓πæ“Àπ– µŸâ§Õπ‡∑π‡πÕ√å  ”π—°ß“π¢“¬ √–∫∫§Õ¡æ‘«‡µÕ√å √«¡§à“‡ ◊ËÕ¡√“§“ – ¡ ∑’Ë¥‘π Õ“§“√ ·≈–Õÿª°√≥å- ÿ∑∏‘ §à“‡ ◊ËÕ¡√“§“ ”À√—∫ªï  ‘Èπ ÿ¥«—π∑’Ë 31 ∏—𫓧¡ 2548  ‘Èπ ÿ¥«—π∑’Ë 31 ∏—𫓧¡ 2547

41,327,681.29 3,590,495.02 28,835,249.77 18,969,250.30 20,655,738.47 49,773,586.10 46,806,380.00 433,822.00 448,694.27 210,840,897.22

´◊ÈÕ‡æ‘Ë¡/ √—∫‚Õπ ∫“∑

®”Àπà“¬/ ‚ÕπÕÕ° ∫“∑

≥ «—π∑’Ë 31 ∏—𫓧¡ 2548 ∫“∑

1,826,756.39 101,818.50 4,125,472.00 4,638,149.80 10,692,196.69

41,327,681.29 3,590,495.02 28,835,249.77 18,969,250.30 22,482,494.86 (367,694.00) 49,507,710.60 (751,000.00) 50,180,852.00 433,822.00 448,694.27 4,638,149.80 (1,118,694.00) 220,414,399.91

(16,490,892.51) (1,441,762.00) (10,032,225.92) (3,336,934.18) (12,588,404.51) (3,272,250.92) (28,588,358.82) (7,888,528.59) (26,263,402.98) (5,580,999.99) (433,819.00) (448,051.70) (634.58) (235,116.98) (94,845,155.44) (21,756,227.24) 115,995,741.78 (11,064,030.55)

(17,932,654.51) (13,369,160.10) (15,860,655.43) 364,626.03 (36,112,261.38) 497,200.83 (31,347,202.14) (433,819.00) (448,686.28) (235,116.98) 861,826.86 (115,739,555.82) (256,867.14) 104,674,844.09 21,756,227.24 22,622,550.47

≥ «—π∑’Ë 31 ∏—𫓧¡ 2548 ·≈– 2547 ∫√‘…—∑œ ‰¥âπ”∑’Ë¥‘π·≈–Õ“§“√¢Õß ”π—°ß“π„À≠à ¡Ÿ≈§à“µ“¡∫—≠™’ ®”π«π‡ß‘π 50.88 ≈â“π∫“∑ ·≈– 52.32 ≈â“π∫“∑ µ“¡≈”¥—∫‰ª®¥®”πÕ߇ªìπÀ≈—°∑√—æ¬å§È”ª√–°—π ‘π‡™◊ËÕ∑’ˉ¥â√—∫®“°∏𓧓√æ“≥‘™¬åµ“¡À¡“¬‡Àµÿ 11 ≥ «—π∑’Ë 31 ∏—𫓧¡ 2548 ·≈– 2547 ∫√‘…—∑œ ¡’∑√—æ¬å ‘π∑’˧”π«≥§à“‡ ◊ËÕ¡√“§“À¡¥·≈â«·µà¬—ß„™â¥”‡π‘πß“πÕ¬Ÿà √“§“∑ÿπ®”π«π ‡ß‘π 48.63 ≈â“π∫“∑ ·≈– 29.33 ≈â“π∫“∑ µ“¡≈”¥—∫ ‚¥¬¡’¡Ÿ≈§à“ ÿ∑∏‘µ“¡∫—≠™’®”π«π‡ß‘π 622 ∫“∑ ·≈– 373 ∫“∑ µ“¡≈”¥—∫

68 √“¬ß“πª√–®”ªï 2548 ∫√‘ …— ∑ ≈≈‘ ≈ æ√Á Õ æ‡æÕ√å µ’È ®”°— ¥ (¡À“™π)


8. Property, Plant and Equipment-Net Consist of :

As of Increase/ December 31, 2004 Transfer in Baht Baht

Sale/ As of Transfer out December 31, 2005 Baht Baht

Cost Land

41,327,681.29

-

-

41,327,681.29

3,590,495.02

-

-

3,590,495.02

Building

28,835,249.77

-

-

28,835,249.77

Building-Clubhouses and Swimming Pool

18,969,250.30

-

-

18,969,250.30

Office Equipment

20,655,738.47

1,826,756.39

-

22,482,494.86

Office Furniture

49,773,586.10

101,818.50

(367,694.00)

49,507,710.60

Vehicles

46,806,380.00

4,125,472.00

(751,000.00)

50,180,852.00

Land-Clubhouses and Swimming Pool

Container

433,822.00

-

-

433,822.00

Sale Office

448,694.27

-

-

448,694.27

-

4,638,149.80

Computer Network and Call Center Total Cost

-

4,638,149.80

210,840,897.22

10,692,196.69

(1,118,694.00)

220,414,399.91

Building

(16,490,892.51)

(1,441,762.00)

-

(17,932,654.51)

Building-Clubhouses and Swimming Pool

(10,032,225.92)

(3,336,934.18)

-

(13,369,160.10)

Office Equipment

(12,588,404.51)

(3,272,250.92)

-

(15,860,655.43)

Office Furniture

(28,588,358.82)

(7,888,528.59)

364,626.03

(36,112,261.38)

Vehicles

(26,263,402.98)

(5,580,999.99)

497,200.83

(31,347,202.14)

Accumulated Depreciation:

Container

(433,819.00)

-

-

(433,819.00)

Sale Office

(448,051.70)

(634.58)

-

(448,686.28)

(235,116.98)

-

(235,116.98)

Computer Network and Call Center

-

Total Accumulated depreciation

(94,845,155.44)

(21,756,227.24)

861,826.86

(115,739,555.82)

Property Plant and Equipment - net

115,995,741.78

(11,064,030.55)

(256,867.14)

104,674,844.09

Depreciation For the years ended on December 31, 2005

21,756,227.24

2004

22,622,550.47

As of December 31, 2005 and 2004, land and building from head office which have the book value in amount of Baht 50.88 million and Baht 52.32 million respectively were mortgaged as collateral against credit from commercial bank as in Note 11. As of December 31, 2005 and 2004, the Company had assets with the depreciation fully calculated but still in use which had a cost value in amount of Baht 48.63 million and Baht 29.33 million respectively. The net book value of which was now in amount of Baht 622 and Baht 373 respectively.

69 Annual Report 2005 Lalin Property Public Company Limited


9. ∑’Ë¥‘π√Õ°“√æ—≤π“

≥ «—π∑’Ë 31 ∏—𫓧¡ 2548 ·≈– 2547 ∑’Ë¥‘π√Õ°“√æ—≤𓇪ìπ∑’Ë¥‘π∑’Ë´◊ÈÕ¡“π“π°«à“ 1 ªï ·≈–¬—߉¡à¡’°“√æ—≤π“ ‚¥¬¡Ÿ≈§à“∑’Ë¥‘π√Õ °“√æ—≤𓉥â√«¡§à“„™â®à“¬∑’ˇ°’ˬ«¢âÕß ‚¥¬· ¥ß‰«â„π à«π¢Õß ‘π∑√—æ¬å‰¡àÀ¡ÿπ‡«’¬π ·≈–®–· ¥ß√“¬°“√¥—ß°≈à“«‡ªìπ ‘π§â“‡¡◊ËÕ ‡√‘Ë¡æ—≤π“ 10.  ‘π∑√—æ¬å ‰¡àÀ¡ÿπ‡«’¬πÕ◊Ëπ -  ÿ∑∏‘

ª√–°Õ∫¥â«¬

≥ «—π∑’Ë 31 ∏—𫓧¡ 2548 ∫“∑

¿“…’‡ß‘π‰¥â∂Ÿ°À—° ≥ ∑’Ë®à“¬ ‡ß‘π¡—¥®”§à“∑’Ë¥‘π ‡ß‘π¡—¥®”Õ◊Ëπ·≈–‡ß‘πª√–°—π §à“„™â®à“¬√Õµ—¥∫—≠™’ §à“„™â®à“¬®à“¬≈à«ßÀπâ“ Õ◊ËπÊ √«¡ À—° §à“‡º◊ËÕ°“√≈¥¡Ÿ≈§à“-¿“…’‡ß‘π‰¥â∂Ÿ°À—° ≥ ∑’Ë®à“¬  ÿ∑∏‘

31 ∏—𫓧¡ 2547 ∫“∑

5,507,055.93 8,579,750.00 663,476.45 2,354,000.00 3,459,780.50 20,564,062.88 (5,507,055.93) 15,057,006.95

5,507,055.93 1,091,739.28 2,354,000.00 3,994,625.38 440,000.00 13,387,420.59 (5,507,055.93) 7,880,364.66

11.  ‘π‡™◊ËÕ·≈–°“√§È”ª√–°—π

 ‘π‡™◊ËÕ„π√Ÿª‡ß‘π‡∫‘°‡°‘π∫—≠™’∏𓧓√ ‡ß‘π°Ÿâ¬◊¡√–¬– —Èπ ·≈–‡ß‘π°Ÿâ¬◊¡√–¬–¬“« ∫√‘…—∑œ ‰¥âπ”∑’Ë¥‘πæ√âÕ¡ ‘Ëߪ≈Ÿ° √â“ß µ“¡ À¡“¬‡Àµÿ 5 ·≈–À¡“¬‡Àµÿ 8 ·≈–∑’Ë¥‘π¢Õß∫√‘…—∑∑’ˇ°’ˬ«¢âÕß°—π ¡Ÿ≈§à“ 2 .70 ≈â“π∫“∑ ‡ªìπÀ≈—°∑√—æ¬å§È”ª√–°—π 12. ‡ß‘π‡∫‘°‡°‘π∫—≠™’·≈–‡ß‘π°Ÿâ¬◊¡√–¬– —Èπ®“° ∂“∫—π°“√‡ß‘π

ª√–°Õ∫¥â«¬

‡ß‘π‡∫‘°‡°‘π∫—≠™’ ‡ß‘π°Ÿâ¬◊¡√–¬– —Èπ √«¡

≥ «—π∑’Ë 31 ∏—𫓧¡ 2548 ∫“∑

31 ∏—𫓧¡ 2547 ∫“∑

11,672,546.11 250,000,000.00 261,672,546.11

20,703,539.50 165,000,000.00 185,703,539.50

≥ «—π∑’Ë 31 ∏—𫓧¡ 2548 ·≈– 2547 ‡ß‘π°Ÿâ¬◊¡√–¬– —Èπ∑—Èß®”π«π ‡ªìπ°“√°Ÿâ¬◊¡‡ß‘π®“° ∂“∫—π°“√‡ß‘π„π√Ÿªµ—Ϋ —≠≠“„™â‡ß‘π·≈– µ—Ϋ·≈°‡ß‘πª√–‡¿∑§√∫°”Àπ¥™”√– 3-12 ‡¥◊Õπ ‚¥¬¡’Õ—µ√“¥Õ°‡∫’Ȭ√âÕ¬≈– 2.85-4.80 µàÕªï ·≈– 2.20 - 3.35 µàÕªï µ“¡≈”¥—∫

70 √“¬ß“πª√–®”ªï 2548 ∫√‘ …— ∑ ≈≈‘ ≈ æ√Á Õ æ‡æÕ√å µ’È ®”°— ¥ (¡À“™π)


9. Land Awaiting Development As of December 31, 2005 and 2004, land awaiting development were purchased more 1 year and undeveloped. Land awaiting development were included related expenses by express on non-current assets and will be shown as inventory when the land is developed.

10. Other Non-Current Asset-Net Consist of :

As of December 31, 2005 December 31, 2004 Baht Baht Withholding Income Tax

5,507,055.93

Land Deposit

8,579,750.00

Other Deposits and Guarantee

5,507,055.93 -

663,476.45

1,091,739.28

Deferred Expenses

2,354,000.00

2,354,000.00

Prepaid Expenses

3,459,780.50

3,994,625.38

Other Total Less Allowance for Withholding Income Tax Net

-

440,000.00

20,564,062.88

13,387,420.59

(5,507,055.93)

(5,507,055.93)

15,057,006.95

7,880,364.66

11. Credits and Obligations Credits in the form of bank overdrafts, short-term loans and long term loans were collateralized by land and construction as in Note 5 and Note 8 and land of related company in amount of Baht 2.70 million.

12. Bank Overdraft and Short-term Loans from Financial Institutions Consist of :

As of December 31, 2005 December 31, 2004 Baht Baht Bank Overdraft

11,672,546.11

20,703,539.50

Short-term Loans

250,000,000.00

165,000,000.00

Total

261,672,546.11

185,703,539.50

As of December 31, 2005 and 2004, the whole amount of short – term loan was a loan due to finance institution in form of bill of exchange and promissory note in type of 3-12 months maturity with interest rate at 2.85 – 4.80% per annum and 2.20 – 3.35% per annum respectively.

71 Annual Report 2005 Lalin Property Public Company Limited


13. Àπ’È ‘πÀ¡ÿπ‡«’¬πÕ◊Ëπ

ª√–°Õ∫¥â«¬

ª√–¡“≥°“√§à“°àÕ √â“ßÕ“§“√ ‚¡ √§â“ß®à“¬ ª√–¡“≥°“√§à“∫”√ÿß√—°…“ “∏“√≥Ÿª‚¿§§â“ß®à“¬ ¿“…’À—° ≥ ∑’Ë®à“¬§â“ß®à“¬ Õ◊ËπÊ √«¡

≥ «—π∑’Ë 31 ∏—𫓧¡ 2548 ∫“∑

31 ∏—𫓧¡ 2547 ∫“∑

31,794,377.50 43,244,465.54 1,874,188.29 1,554,977.13 78,468,008.46

28,269,973.24 32,702,506.99 4,019,412.70 5,434,203.81 70,429,096.74

ª√–¡“≥°“√§à“∫”√ÿß√—°…“ “∏“√≥Ÿª‚¿§§â“ß®à“¬ ‡ªìπª√–¡“≥°“√Àπ’ È π‘ ‡æ◊ÕË ‡ªìπ°“√§È”ª√–°—π°“√∫”√ÿß√—°…“ “∏“√≥Ÿª‚¿§‚§√ß°“√ µ“¡æ√–√“™∫—≠≠—µ‘°“√®—¥ √√∑’Ë¥‘π æ.». 2543 „πÕ—µ√“√âÕ¬≈– 7 ¢Õߪ√–¡“≥°“√§à“°àÕ √â“ß “∏“√≥Ÿª‚¿§‚§√ß°“√ ´÷Ëß ª√–¡“≥°“√Àπ’È ‘π¥—ß°≈à“« ∫√‘…—∑œ ®–¡’°“√®à“¬™”√–„Àâ°—∫𑵑∫ÿ§§≈À¡Ÿà∫â“π®—¥ √√‡æ◊ËÕ„™â®à“¬„π°“√∫”√ÿß√—°…“ “∏“√≥Ÿª‚¿§ ‚§√ß°“√ ‡¡◊ËÕ𑵑∫ÿ§§≈À¡Ÿà∫â“π®—¥ √√‰¥â®—¥µ—Èߢ÷Èπµ“¡æ√–√“™∫—≠≠—µ‘°“√®—¥ √√∑’Ë¥‘π æ.». 2543 14. ‡ß‘π°Ÿâ¬◊¡√–¬–¬“«

ª√–°Õ∫¥â«¬

‡ß‘π°Ÿâ¬◊¡√–¬–¬“« √«¡

≥ «—π∑’Ë 31 ∏—𫓧¡ 2548 ∫“∑

31 ∏—𫓧¡ 2547 ∫“∑

45,300,000.00 45,300,000.00

1,700,000.00 1,700,000.00

≥ «—π∑’Ë 31 ∏—𫓧¡ 2548 ·≈– 2547 ‡ß‘π°Ÿâ¬◊¡√–¬–¬“«‡ªìπ°“√°Ÿâ¬◊¡ ‡æ◊ËÕ«—µ∂ÿª√– ß§å´���ÈÕ∑’Ë¥‘π ‚¥¬∑—Èß®”π«π‡ªìπ‡ß‘π°Ÿâ¬◊¡®“° ∏𓧓√æ“≥‘™¬å·ÀàßÀπ÷Ëß ‚¥¬¡’‡ß◊ËÕπ‰¢°“√ºàÕπ™”√–§◊π‡ß‘πµâπ ‡¡◊ËÕ¡’°“√·∫à߉∂à∂Õπ®”πÕßÀ≈—°ª√–°—π∑’Ë¥‘πæ√âÕ¡ ‘Ëߪ≈Ÿ° √â“ß „πÕ—µ√“¬Ÿπ‘µ≈– 0.20-1.10 ≈â“π∫“∑ ‚¥¬¡’°”Àπ¥™”√–„À⇠√Á® ‘Èπ¿“¬„π√–¬–‡«≈“ 12-24 ‡¥◊Õπ Õ—µ√“¥Õ°‡∫’Ȭ MLR-0.50 ∂÷ß 1.00 µàÕªï ∫√‘…—∑œ ‰¥âπ”∑’Ë¥‘πæ√âÕ¡ ‘Ëߪ≈Ÿ° √â“ßµ“¡À¡“¬‡Àµÿ 5 ·≈–À¡“¬‡Àµÿ 8 ‡ªìπÀ≈—°∑√—æ¬å§È”ª√–°—π 15. Àÿâπ°Ÿâ

‡¡◊ËÕ«—π∑’Ë 31 情¿“§¡ 2547 ·≈– 26 °√°Æ“§¡ 2547 ∫√‘…—∑œ ‰¥âÕÕ°Àÿâπ°Ÿâ 2 §√—Èß §√—Èß≈–®”π«π 400,000 Àπ૬ ¡Ÿ≈§à“∑’˵√“ ‰«â 1,000 ∫“∑ µàÕÀπ૬ √«¡∑—Èß ‘Èπ¡Ÿ≈§à“ 800 ≈â“π∫“∑ ´÷Ëß∑—Èß®”π«π‡ªìπÀÿâπ°Ÿâ™π‘¥√–∫ÿ™◊ËÕºŸâ∂◊Õ ™”√–§◊π‡ß‘πµâπ§√—È߇¥’¬« ª√–‡¿∑‰¡à¥âÕ¬ ‘∑∏‘ ‰¡à¡’À≈—°ª√–°—π·≈–‰¡à¡’ºŸâ·∑πºŸâ∂◊ÕÀÿâπ°Ÿâ ‚¥¬Àÿâπ°Ÿâ¥—ß°≈à“«¡’Õ“¬ÿ 3 ªï 1 ‡¥◊Õπ 15 «—π ·≈–Õ“¬ÿ 3 ªï 1 ‡¥◊Õπ 5 «—𠵓¡≈”¥—∫ Õ—µ√“¥Õ°‡∫’Ȭ√âÕ¬≈– 4.25 µàÕªï ·≈–√âÕ¬≈– 4.35 µàÕªï µ“¡≈”¥—∫ µ≈Õ¥Õ“¬ÿÀÿâπ°Ÿâ ‚¥¬™”√–¥Õ°‡∫’Ȭªï≈– 2 §√—Èß

72 √“¬ß“πª√–®”ªï 2548 ∫√‘ …— ∑ ≈≈‘ ≈ æ√Á Õ æ‡æÕ√å µ’È ®”°— ¥ (¡À“™π)


13. Other Current Liabilities Consist of :

As of December 31, 2005 December 31, 2004 Baht Baht Estimate Accrued for Construction Fee of Building Clubhouses

31,794,377.50

28,269,973.24

43,244,465.54

32,702,506.99

Suspense Withholding Income Tax

1,874,188.29

4,019,412.70

Other

1,554,977.13

5,434,203.81

78,468,008.46

70,429,096.74

Estimate Accrued for Maintain the Utilities of Project

Total

Estimate accrued for maintain the utilities of project is estimate liability for pledge to maintain the utilities of project according to Land Allocation act B.E. 2543 by pledge with rate 7% from estimate for construction fee of utilities of project. That liability the Company will pay to Housing Juristic Person was found according to Land Allocation act B.E. 2543.

14. Long-term Loans Consist of :

As of December 31, 2005 December 31, 2004 Baht Baht Long - term Loan

45,300,000.00

1,700,000.00

Total

45,300,000.00

1,700,000.00

As of December 31, 2005 and 2004, Long-term loan intended to acquire land was loan from one commercial bank with the term of principle repayment when there is any redemption of mortgaged collateral of land plus property at the rate of Baht 0.20-1.10 million per unit. It is determined to be completely repayable within 12-24 months at the interest rate of MLR-0.50 to 1.00 per annum. Which was collateralized by land and construction as in Note 5 and Note 8.

15. Debenture As of May 31, 2004 and July 26, 2004, the Company issue debentures two times in amount 400,000 units per time at par value 1,000 Baht per unit net total Baht 800 million, the whole amount were debentures category specifying name and payable principal once time. Such debentures are non-subordinate fund, unsecured and have not a debenture holder’s representative. The debentures have maturity date 3 years 1 month and 15 days and 3 years 1 month and 5 days respectively, the interest rate of 4.25 per annum and rate of 4.35 per annum respectively throughout the term of the debentures by payable semi-annually.

73 Annual Report 2005 Lalin Property Public Company Limited


16.  ”√Õßµ“¡°ÆÀ¡“¬

µ“¡æ√–√“™∫—≠≠—µ‘∫√‘…—∑¡À“™π ®”°—¥ æ.». 2535 ∫√‘…—∑œ ®–µâÕß®—¥ √√°”‰√ ÿ∑∏‘ ª√–®”ªï à«πÀπ÷Ë߉«â‡ªìπ∑ÿπ ”√Õßµ“¡ °ÆÀ¡“¬ ‰¡àπâÕ¬°«à“√âÕ¬≈–Àâ“¢Õß°”‰√ ÿ∑∏‘ª√–®”ªï À—°¥â«¬¢“¥∑ÿπ – ¡¬°¡“ (∂â“¡’) ®π°«à“∑ÿπ ”√Õßπ’È®–¡’®”π«π‰¡àπâÕ¬ °«à“√âÕ¬≈– ‘∫¢Õß∑ÿπ®¥∑–‡∫’¬π¢Õß∫√‘…—∑ 17. ‡ß‘πªíπº≈

µ“¡√“¬ß“π°“√ª√–™ÿ¡§≥–°√√¡°“√ §√—Èß∑’Ë 3/2548 ‡¡◊ËÕ«—π∑’Ë 9  ‘ßÀ“§¡ 2548 ¡’¡µ‘Õπÿ¡—µ‘„Àâ®à“¬‡ß‘πªíπº≈√–À«à“ß°“≈®“°º≈ °“√¥”‡π‘πß“π¢Õß«—π∑’Ë 1 ¡°√“§¡ 2548 ∂÷ß«—π∑’Ë 30 ¡‘∂ÿπ“¬π 2548 ‚¥¬‡ πÕ®à“¬‡ß‘πªíπº≈Àÿâπ≈– 0.15 ∫“∑ ®”π«πÀÿâπ “¡—≠ ∑’Ë¡’ ‘∑∏‘‰¥â√—∫‡ß‘πªíπº≈®”π«π 825,000,000 Àÿâ𠇪ìπ®”π«π‡ß‘π 123.75 ≈â“π∫“∑ ‚¥¬°”Àπ¥®à“¬‡ß‘πªíπº≈„π«—π∑’Ë 23  ‘ßÀ“§¡ 2548 µ“¡√“¬ß“π°“√ª√–™ÿ¡ºŸâ∂◊ÕÀÿâπ §√—Èß∑’Ë 1/2548 ‡¡◊ËÕ«—π∑’Ë 4 ‡¡…“¬π 2548 ¡’¡µ‘Õπÿ¡—µ‘„Àâ¡’°“√®à“¬‡ß‘πªíπº≈®“°º≈°“√¥”‡π‘π ß“π¢Õߪï 2547 ‚¥¬‡ πÕ®à“¬‡ß‘πªíπº≈Àÿâπ≈– 0.30 ∫“∑ ®”π«πÀÿâπ “¡—≠∑’Ë¡’ ‘∑∏‘‰¥â√—∫‡ß‘πªíπº≈®”π«π 825,000,000 Àÿâ𠇪ìπ ®”π«π‡ß‘π 247.50 ≈â“π∫“∑ ‚¥¬°”Àπ¥®à“¬‡ß‘πªíπº≈„π«—π∑’Ë 29 ‡¡…“¬π 2548 ´÷Ëß¡’°“√®—¥ √√°”‰√ ÿ∑∏‘‡ªìπ∑ÿπ ”√Õß µ“¡°ÆÀ¡“¬®”π«π 29.02 ≈â“π∫“∑ µ“¡√“¬ß“π°“√ª√–™ÿ¡ºŸâ∂◊ÕÀÿâπ §√—Èß∑’Ë 1/2547 ‡¡◊ËÕ«—π∑’Ë 1 ‡¡…“¬π 2547 ¡’¡µ‘Õπÿ¡—µ‘„Àâ¡’°“√®à“¬‡ß‘πªíπº≈®“°º≈°“√¥”‡π‘π ß“π¢Õߪï 2546 ‚¥¬‡ πÕ®à“¬‡ß‘πªíπº≈Àÿâπ≈– 0.33 ∫“∑ ®”π«πÀÿâπ “¡—≠∑’Ë¡’ ‘∑∏‘‰¥â√—∫‡ß‘πªíπº≈®”π«π 825,000,000 Àÿâ𠇪ìπ ®”π«π‡ß‘π 272.25 ≈â“π∫“∑ ‚¥¬°”Àπ¥®à“¬‡ß‘πªíπº≈„π«—π∑’Ë 28 ‡¡…“¬π 2547 ´÷Ëß¡’°“√®—¥ √√°”‰√ ÿ∑∏‘‡ªìπ∑ÿπ ”√Õß µ“¡°ÆÀ¡“¬®”π«π 39.22 ≈â“π∫“∑ 18. ¿“…’‡ß‘π‰¥â𑵑∫ÿ§§≈

∫√‘…—∑œ §”π«≥¿“…’‡ß‘π‰¥â𑵑∫ÿ§§≈µ“¡À≈—°‡°≥±å„πæ√–√“™°ƒ…Æ’°“ ©∫—∫∑’Ë 387 ´÷Ëß„Àâ≈¥Õ—µ√“¿“…’‡ß‘π‰¥â𑵑∫ÿ§§≈ ®“°√âÕ¬ ≈– 30 ‡ªìπ√âÕ¬≈– 25 ‡ªìπ‡«≈“Àâ“√Õ∫√–¬–‡«≈“∫—≠™’µàÕ‡π◊ËÕß°—π π—∫·µà√Õ∫√–¬–‡«≈“∫—≠™’·√°∑’ˇ√‘Ë¡„πÀ√◊ÕÀ≈—ß«—π∑’Ë∫√‘…—∑∑’Ë¡’ À≈—°∑√—æ¬å¡“®¥∑–‡∫’¬π„πµ≈“¥À≈—°∑√—æ¬å·Ààߪ√–‡∑»‰∑¬ («—π∑’Ë 3 °—𬓬π 2545) µ“¡°ÆÀ¡“¬«à“¥â«¬À≈—°∑√—æ¬å·≈– µ≈“¥À≈—°∑√—æ¬å ¥—ßπ—Èπ¿“…’‡ß‘π‰¥â𑵑∫ÿ§§≈ ”À√—∫ªï  ‘Èπ ÿ¥«—π∑’Ë 31 ∏—𫓧¡ 2548 ·≈– 2547 ∫√‘…—∑œ §”π«≥„πÕ—µ√“√âÕ¬≈– 25 ¢Õß°”‰√ ÿ∑∏‘∑“ß∫—≠™’ ¿“¬À≈—ß∫«°°≈—∫√“¬°“√ª√—∫ª√ÿßµ“¡ª√–¡«≈√—…Æ“°√ 19. °“√‡ªî¥‡º¬¢âÕ¡Ÿ≈‡°’ˬ«°—∫‡§√◊ËÕß¡◊Õ∑“ß°“√‡ß‘π

19.1 π‚¬∫“¬°“√∫√‘À“√§«“¡‡ ’ˬß∑“ß°“√‡ß‘π ∫√‘…—∑œ ‰¡à¡’π‚¬∫“¬„π°“√ª√–°Õ∫∏ÿ√°√√¡‡°’ˬ«°—∫µ√“ “√°“√‡ß‘π ‡æ◊ËÕ°“√‡°Áß°”‰√À√◊Õ‡æ◊ËÕ°“√§â“ 19.2 §«“¡‡ ’ˬ߮“°Õ—µ√“¥Õ°‡∫’Ȭ §«“¡‡ ’ˬߥâ“πÕ—µ√“¥Õ°‡∫’Ȭ‡°‘¥®“°°“√‡ª≈’ˬπ·ª≈ߢÕßÕ—µ√“¥Õ°‡∫’Ȭ„πÕ𓧵 ´÷Ëß®–¡’º≈°√–∑∫µàÕ°“√¥”‡π‘πß“π·≈– °√–· ‡ß‘π ¥¢Õß∫√‘…—∑œ ‚¥¬∫√‘…—∑œ ¡’ ‘π∑√—æ¬å ·≈–Àπ’È ‘π∑’Ë¡’§«“¡‡ ’ˬ߮“°Õ—µ√“¥Õ°‡∫’Ȭ¥—ßπ’È

74 √“¬ß“πª√–®”ªï 2548 ∫√‘ …— ∑ ≈≈‘ ≈ æ√Á Õ æ‡æÕ√å µ’È ®”°— ¥ (¡À“™π)


16. Legal Reserve In accordance with the Public Co., Ltd. Act B.E. 2535, the Company has to appropriate partly annual net profit as legal reserve not less than 5 percents of the annual net profit deducted by accumulated loss brought forward (if any) until this legal reserve holds an amount not less than 10 percents of the Company’s registered share capital.

17. Dividend Payment In accordance with the resolution of the Board of Directors Meeting No. 3/2005 dated August 9, 2005, it was resolved to pay a dividend of Baht 0.15 per share from the company’s performance in January 1, 2005 to June 30, 2005, total 825,000,000 shares and totaling Baht 123.75 million to be paid on August 23, 2005. In accordance with the resolution of the Annual General Shareholders’ Meeting No. 1/2005 dated April 4, 2005, it was resolved to pay a dividend of Baht 0.30 per share from the company’s performance in 2004, total 825,000,000 shares and totaling Baht 247.50 million to be paid on April 29, 2005. Which appropriated net profit to legal reserve amount of Baht 29.02 million. In accordance with the resolution of the Annual General Shareholders’ Meeting No. 1/2004 dated April 1, 2004, it was resolved to pay a dividend of Baht 0.33 per share from the company’s performance in 2003, total 825,000,000 shares and totaling Baht 272.25 million to be paid on April 28, 2004. Which appropriated net profit to legal reserve amount of Baht 39.22 million.

18. Corporate Income Tax The Company computed corporate income tax pursuant to the decree basis No. 387 which reduces corporate income tax from 30% to 25% for the 5 consecutively accounting periods commenced from the initial accounting period in or after the date the Company constitutes securities listed in the Stock Exchange of Thailand (as of September 3, 2002), in accordance with the law of Securities and Security Market. Therefore, the corporate income tax for the years ended on December 31, 2005 and 2004, the Company computed at the rate of 25% of accounting net profit after making adjust transaction in accordance with the Revenue Code.

19. Disclosure and Presentation of Financial Instruments 19.1 Policies of Financial risk management The Company is not hold or issue derivative instruments of speculative or trading purposes. 19.2 Risks on Interest Rates Risk on interest rates is derived from fluctuation of market interest rate in the future which affect upon operating result and cash flow. The Company had assets and liabilities which it may have risk on interest rate as follows:

75 Annual Report 2005 Lalin Property Public Company Limited


®”π«π‡ß‘π 1 ∏—𫓧¡ 2548 ≈â“π∫“∑

‡ß‘π≈ß∑ÿπ√–¬– —Èπ-µ—Ϋ‡ß‘π§≈—ß ‡ß‘π‡∫‘°‡°‘π∫—≠™’ ‡ß‘π°Ÿâ¬◊¡√–¬– —Èπ®“°∏𓧓√æ“≥‘™¬å ·≈– ∂“∫—π°“√‡ß‘π ‡ß‘π°Ÿâ¬◊¡√–¬–¬“«®“°∏𓧓√æ“≥‘™¬å ·≈– ∂“∫—π°“√‡ß‘π Àÿâπ°Ÿâ

Õ—µ√“¥Õ°‡∫’ȬµàÕªï

31 ∏—𫓧¡ 2547 31 ∏—𫓧¡ 2548 31 ∏—𫓧¡ 2547 ≈â“π∫“∑ √âÕ¬≈– √âÕ¬≈–

150.00 11.67

20.70

3.27 MLR-7.00

MOR-6.00

250.00

165.00

2.85-4.80

2.20-3.35

45.30 800.00

1.70 800.00

MLR-0.50 ∂÷ß 1.00 MLR-0.50 ∂÷ß 1.00 4.25-4.35 4.25-4.35

19.3 §«“¡‡ ’ˬ߮“°Õ—µ√“·≈°‡ª≈’ˬπ ∫√‘…—∑œ ‰¡à¡’§«“¡‡ ’ˬ߮“°§«“¡º—πº«π¢ÕßÕ—µ√“·≈°‡ª≈’ˬπ„π °ÿ≈‡ß‘πµ√“µà“ߪ√–‡∑» ‡π◊ËÕß®“°∏ÿ√°√√¡∑“ß°“√§â“¢Õß ∫√‘…—∑∑”°—∫∏ÿ√°‘®¿“¬„πª√–‡∑» 19.4 §«“¡‡ ’ˬߥâ“π°“√„Àâ ‘π‡™◊ËÕ ∫√‘…—∑œ ‰¡à¡’§«“¡‡ ’ˬߥâ“π°“√„Àâ ‘π‡™◊ËÕ®“°°“√‰¡à‰¥â√—∫™”√–Àπ’È®“°≈Ÿ°Àπ’È°“√§â“ ‡π◊ËÕß®“°√“¬°“√§â“‚¥¬ à«π„À≠à¢Õß ∫√‘…—∑œ ‡ªìπ√“¬‰¥â∑’Ë√—∫‡ªìπ‡ß‘π ¥ Õ’°∑—Èß°“√‚Õπ ‘π§â“„Àâ°—∫≈Ÿ°Àπ’È∫√‘…—∑®–‚Õπ°√√¡ ‘∑∏‘χ¡◊ËÕ‰¥â√—∫™”√–‡ß‘π§√∫∂â«π·≈â« 19.5 ¡Ÿ≈§à“¬ÿµ‘∏√√¡ ∫√‘…—∑œ °”Àπ¥„Àâ¡’°“√µ‘¥µ“¡ ‘π∑√—æ¬å∑“ß°“√‡ß‘π·≈–Àπ’È ‘π∑“ß°“√‡ß‘π∑ÿ°ß«¥∫—≠™’«à“¡Ÿ≈§à“∑“ß∫—≠™’·µ°µà“ß°—∫¡Ÿ≈§à“ ¬ÿµ‘∏√√¡Õ¬à“ß¡’ “√– ”§—≠À√◊Õ‰¡à ®“°π‚¬∫“¬¥—ß°≈à“«∫√‘…—∑œ ®÷߇™◊ËÕ«à“¡Ÿ≈§à“∑“ß∫—≠™’¢Õß ‘π∑√—æ¬å∑“ß°“√‡ß‘π·≈–Àπ’È  ‘π∑“ß°“√‡ß‘π®–‰¡à·µ°µà“ß®“°¡Ÿ≈§à“¬ÿµ‘∏√√¡Õ¬à“ß¡’ “√– ”§—≠ 20. °“√‡ πÕ¢âÕ¡Ÿ≈∑“ß°“√‡ß‘𮔷𰵓¡ à«πß“π

∫√‘…—∑œ ¥”‡π‘πß“π„π à«πß“π∏ÿ√°‘®‡¥’¬« §◊Õ ∏ÿ√°‘®°“√æ—≤π“Õ —ßÀ“√‘¡∑√—æ¬å‡æ◊ËÕ¢“¬ ·≈–¥”‡π‘π∏ÿ√°‘®„π à«πß“π∑“ß¿Ÿ¡‘»“ µ√å ‡¥’¬«„πª√–‡∑»‰∑¬ ¥—ßπ—Èπ √“¬‰¥â °”‰√·≈– ‘π∑√—æ¬å∑—ÈßÀ¡¥∑’Ë· ¥ß„πß∫°“√‡ß‘π ®÷߇°’ˬ«°—∫ à«πß“π∏ÿ√°‘®·≈– à«πß“π∑“ß¿Ÿ¡‘ »“ µ√嵓¡∑’Ë°≈à“«‰«â 21. ¿“√–ºŸ°æ—π·≈–Àπ’È ‘π∑’ËÕ“®®–‡°‘¥¢÷Èπ

≥ «—π∑’Ë 31 ∏—𫓧¡ 2548 ·≈– 2547 ∫√‘…—∑œ ¡’¿“√–ºŸ°æ—π∑’Ë®–µâÕß∑”°“√æ—≤𓂧√ß°“√„π à«π¢Õß “∏“√≥Ÿª‚¿§ à«π°≈“ß ·≈–¿“√–ºŸ°æ—π∑’Ë®–µâÕß°àÕ √â“ßµ“¡ —≠≠“°àÕ √â“ß‚§√ß°“√·≈–Àπ’È ‘π∑’ËÕ“®®–‡°‘¥¢÷Èπ ¥—ßπ’È ≥ «—π∑’Ë

ß“πæ—≤π“ “∏“√≥Ÿª‚¿§ à«π°≈“ß‚§√ß°“√µà“ßÊ ß“π°àÕ √â“ßµ“¡ —≠≠“‚§√ß°“√µà“ßÊ Letter of Guarantee 22. °“√Õπÿ¡—µ‘ß∫°“√‡ß‘π

ß∫°“√‡ß‘ππ’ȉ¥â√—∫Õπÿ¡—µ‘®“°°√√¡°“√¢Õß∫√‘…—∑œ ·≈â«

76 √“¬ß“πª√–®”��ï 2548 ∫√‘ …— ∑ ≈≈‘ ≈ æ√Á Õ æ‡æÕ√å µ’È ®”°— ¥ (¡À“™π)

31 ∏—𫓧¡ 2548 ≈â“π∫“∑

31 ∏—𫓧¡ 2547 ≈â“π∫“∑

144.26 154.08 227.72

292.48 251.95 316.69


Amount

Annual Interest Rate

31 December 2005 31 December 2004 Million Baht Million Baht

31 December 2005 31 December 2004 % %

Treasury Bill

150.00

-

3.27

-

Bank Overdrafts

11.67

20.70

MLR-7.00

MOR-7.00

250.00

165.00

2.85-4.80

2.20-3.35

45.30

1.70

MLR-0.05 - 1.00

MLR-0.05 - 1.00

800.00

800.00

4.25-4.35

4.25-4.35

Short-term Loans from Banks and Financial Institutes Long-term Loans from Banks and Financial Institutes Debenture 19.3 Risk on Exchange Rate The Company is not exposed to any risk from foreign exchange rate fluctuations because its main enterprise in conducted locally. 19.4 Risk on Credit Provision The Company constitutes no risk exposure of credit provision derived from uncollectibility from trade receivable since the trade transaction are mainly cash receipt. Moreover the inventory is transferred to account receivable while the ownership of inventory is respectively transferred when cash is completely received. 19.5 Fair Value The Company required the follow-up of the financial assets and liabilities for every accounting period to find out as to whether the book value is materially different from the fair value. From such policy, the Company believes that the book value of the financial assets and liabilities will not materially different from fair value.

20. Presentation of Financial Data Segregated by Business Sectoral The Company operates in only one main sector, namely business of property development for sales and its operation is in one geographical area, that is Thailand. Thus all income and assets as shown on the financial statements were related to the business sector and geographical area as already said.

21. Obligation Commitment and Contingent Liabilities As of December 31, 2005 and 2004, the Company is obliged to develop the project on behalf of the central utility and obligation commitment which required the construction in accordance with the contract of project construction and contingent liabilities as follows :

As of December 31, 2005 December 31, 2004 Baht Baht Development of Central Utility of Various Project

144.26

292.48

The Construction with the Contract of Various Project

154.08

251.95

Letter of Guarantee

227.72

316.69

22. Approval of the Financial Statements. These financial statements have been approved by the Company’s directors.

77 Annual Report 2005 Lalin Property Public Company Limited


∫ÿ § § ≈ Õâ “ ß Õ‘ ß Õ◊Ë π Ê

ºŸâ Õ∫∫—≠™’

π“¬Õ”æ≈ ®”πߧ嫗≤πå ‡≈¢∑–‡∫’¬πºŸâ Õ∫∫—≠™’√—∫Õπÿ≠“µ 4663 ∫√‘…—∑ ‡Õ .‡§. ·Õ§‡§“πå·µâπ∑å ‡´Õ√å«‘ ‡´  ®”°—¥ 128/151 Õ“§“√æ≠“‰∑æ≈“´à“ ™—Èπ 14 ∂ππæ≠“‰∑ ‡¢µ√“™‡∑«’ °√ÿ߇∑æœ 10400 ‚∑√ : +66 (0) 2216-5595-7 ‚∑√ “√ : +66 (0) 2216-5596-7 ∑’˪√÷°…“°ÆÀ¡“¬

∫√‘…—∑ §π÷ß ·Õπ¥å æ“√å∑‡πÕ√å  Õ‘π‡µÕ√å‡π™—Ëπ·π≈ §Õπ´—≈·µπ∑å´’ ®”°—¥ ™—Èπ 12 Õ“§“√𓬇≈‘» ∑“«‡«Õ√å 2/4 ∂ππ«‘∑¬ÿ ≈ÿ¡æ‘π’ ª∑ÿ¡«—π °√ÿ߇∑æœ 10330 ‚∑√ : +66 (0) 2267-8931 ‚∑√ “√ : +66 (0) 2267-8942 ∑–‡∫’¬π‡≈¢∑’Ë

∫√‘…—∑ æ ÿæ—≤πå ®”°—¥ 12/F Õ“§“√™“√凵Õ√å ·§«√å 152 ∂ππ “∑√‡Àπ◊Õ ‡¢µ∫“ß√—° °√ÿ߇∑æœ 10500 ‚∑√ : +66 (0) 2637-8989 ‚∑√ “√ : +66 (0) 2637-8990

78 √“¬ß“πª√–®”ªï 2548 ∫√‘ …— ∑ ≈≈‘ ≈ æ√Á Õ æ‡æÕ√å µ’È ®”°— ¥ (¡À“™π)


Other References Auditor Mr. Ampol Chamnongwat C.P.A. (Thailand) Registraction No. 3277 S.K. Accountant Services Company Limited 128/151 Phayatai Plaza Building, 14th Floor, Phayatai Road, Thongphayatai, Ratchtavee, Bangkok 10400 Thailand Tel : +66 (0) 2216-5595-7 Fax : +66 (0) 2216-5596-7

Legal Advisor Kanung & Partners International Consultancy Company Limited 12th Floor, Nai Lert Tower, 214 Wireless Road, Bangkok 10330 Thailand Tel : +66 (0) 2267-8931 Fax : +66 (0) 2267-8942

Appraisal Company Pasupat Realty Company Limited 12/F Charters Square Building, 152 North Sathorn Road, Bangkok 10500 Thailand Tel : +66 (0) 2637-8989 Fax : +66 (0) 2637-8990

79 Annual Report 2005 Lalin Property Public Company Limited


° “ √ ·   ¥ ß √ “ ¬ ° “ √ ∑’Ë ° ” À π ¥ µ “ ¡ · ∫ ∫ 5 6 - 2

Checklist

Àπâ“ Page

1. ¢âÕ¡Ÿ≈∑—Ë«‰ª General Information

1.1 ∫√‘…—∑ Company

12

1.2 ∫ÿ§§≈Õâ“ßÕ‘ßÕ◊ËπÊ Other References

78

2. ¢âÕ¡Ÿ≈∑“ß°“√‡ß‘π Financial Information

2.1  √ÿª¢âÕ¡Ÿ≈∑“ß°“√‡ß‘π Financial Summary

13

3. ≈—°…≥–°“√ª√–°Õ∫∏ÿ√°‘® Business Operations

26

4. ªí®®—¬‡ ’Ë¬ß Risk Factors

24

5. ‚§√ß √â“ß°“√®—¥°“√ Management Structure

30

6. Õ∏‘∫“¬·≈–«‘‡§√“–Àå∞“π–∑“ß°“√‡ß‘π·≈–º≈°“√¥”‡π‘πß“π Clarification and Financial Analysis on Operation Result

44

7. ß∫°“√‡ß‘π Financial Statements

80 √“¬ß“πª√–®”ªï 2548 ∫√‘ …— ∑ ≈≈‘ ≈ æ√Á Õ æ‡æÕ√å µ’È ®”°— ¥ (¡À“™π)

48


Lalin 05