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CONTENTS “√∫—≠ “√∫—≠ General Information

Message from the Chairman

Report of the Audit Committee

Nature of Business

Shareholders and Management Structure

Shareholding in Subsidiaries

Transaction with Related Companies

Risk Factors and Management

Corporate Governance

Social Activities, Community and Environmental Responsibility

Performance Summary and Financial Highlights

Financial Ratio

Analysis of Operating Results and Financial Status

Report on the Board of Directorsû Responsibility on Financial Statements

Financial Statements

Auditor Fees of the Auditor

Sahacogenûs Board of Directors

¢âÕ¡Ÿ≈∑—Ë«‰ª / General Information™◊ËÕ∫√‘…—∑ : ∫√‘…—∑ À‚§‡®π (™≈∫ÿ√’) ®”°—¥ (¡À“™π)‡≈¢∑–‡∫’¬π∫√‘…—∑ : 0107545000306 (∫¡®. 40854500703)«—π∑’Ë®¥∑–‡∫’¬π°àÕμ—Èß∫√‘…—∑ : 20 æƒ»®‘°“¬π 2539«—π∑’Ë®¥∑–‡∫’¬π‡ªìπ∫√‘…—∑¡À“™π : 4 μÿ≈“§¡ 2545«—π∑’Ë‡ªî¥¢“¬Àÿâπ„πμ≈“¥À≈—°∑√—æ¬å : 7 ¡°√“§¡ 2547ª√–‡¿∑∏ÿ√°‘® : ¥”‡π‘π∏ÿ√°‘®º≈‘μ·≈–®”Àπà“¬‰øøÑ“·≈–‰ÕπÈ”∑’Ëμ—Èß ”π—°ß“π„À≠à : 636 À¡Ÿà∑’Ë 11 ∂ππ ÿ¢“¿‘∫“≈ 8 μ”∫≈ÀπÕß¢“¡ Õ”‡¿Õ»√’√“™“ ®—ßÀ«—¥™≈∫ÿ√’ 20230‚∑√»—æ∑å : 66-3848-1555‚∑√ “√ : 66-3848-1551‡«∫‰´∑å∫√‘…—∑ : www.sahacogen.com∑ÿπ®¥∑–‡∫’¬π·≈–∑ÿπ∑’Ë™”√–·≈â« : 955 ≈â“π∫“∑ ‡ªìπÀÿâπ “¡—≠ 955,000,000 Àÿâπ ¡Ÿ≈§à“Àÿâπ≈– 1 ∫“∑

∫ÿ§§≈Õâ“ßÕ‘ßÕ◊ËπÊπ“¬∑–‡∫’¬πÀÿâπ : ∫√‘…—∑ »Ÿπ¬å√—∫Ω“°À≈—°∑√—æ¬å (ª√–‡∑»‰∑¬) ®”°—¥

62 Õ“§“√μ≈“¥À≈—°∑√—æ¬å·Ààßª√–‡∑»‰∑¬ ™—Èπ 4 ·≈– 7 ∂ππ√—™¥“¿‘‡…°·¢«ß§≈Õß‡μ¬ ‡¢μ§≈Õß‡μ¬ °√ÿß‡∑æœ 10110‚∑√»—æ∑å 0-2229-2800 : ‚∑√ “√ 0-2359-1259

∑’Ëª√÷°…“∑“ß°ÆÀ¡“¬ : ∫√‘…—∑ ∑’Ëª√÷°…“°ÆÀ¡“¬·™π‡≈Õ√å·≈–∑Õß‡Õ° ®”°—¥™—Èπ 7 Õ“§“√∫ÿªº®‘μ 20 ∂ππ “∑√‡Àπ◊Õ °√ÿß‡∑æœ 10500‚∑√»—æ∑å 0-2266-6485 : ‚∑√ “√ 0-2266-6483

ºŸâμ√«® Õ∫¿“¬„π : ∫√‘…—∑ Õ∫∫—≠™’∏√√¡π‘μ‘ ®”°—¥267/1 ∂ππª√–™“√“…Æ√å “¬ 1 ∫“ß´◊ËÕ °√ÿß‡∑æœ 10800‚∑√»—æ∑å 0-2587-0808 : ‚∑√ “√ 0-2586-0301

ºŸâ Õ∫∫—≠™’ : π. . ∑‘æ“«—≈¬å π“π“πÿ«—≤πå ‡≈¢∑–‡∫’¬πºŸâ Õ∫∫—≠™’ 3459∫√‘…—∑ ”π—°ß“π ‡Õ‘π å∑ ·Õπ¥å ¬—ß ®”°—¥ 193/136-137 ∂ππ√—™¥“¿‘‡…°°√ÿß‡∑æœ 10110 ‚∑√»—æ∑å 0-2264-0777 : ‚∑√ “√ 0-2264-0789-90

∂“∫—π°“√‡ß‘π : ∏π“§“√ °√ÿß‡∑æ ®”°—¥ (¡À“™π) “¢“ ”π—°ß“π„À≠à‚∑√»—æ∑å 0-2626-3688 ‚∑√ “√ 0-2231-4018∏π“§“√° ‘°√‰∑¬ ®”°—¥ (¡À“™π) “¢“ »√’√“™“‚∑√»—æ∑å 038-762 787 : ‚∑√ “√ 038-762 791

Name : Sahacogen (Chonburi) Public Company LimitedRegistered Number : 0107545000306 (Bor Mor Jor. 40854500703)Registered Date : November 20, 1996Registered Date to Public Company : October 4, 2002First Trading in the Stock Market : January 7, 2004Type of Business : Power PlantHead Office Location : 636 Moo 11, Sukaphiban 8 Road, Nongkharm, Sriracha, Chonburi 20230Telephone No. : 66 3848 1555Fax No. : 66 3848 1551Website : www.sahacogen.comRegistered and Paid-up Capital : 955 Million Baht, including 955,000,000 common shares, Baht 1 per share

ReferenceSecurity Registrar : Thailand Securities Depositary Co.,Ltd.

62 The Stock Exchange of Thailand Building, 4th & 7th Floor,Ratchadapisek Road, Klongtoey, Bangkok 10110Tel : 0-2229-2800 Fax : 0-2359-1259

Legal Consultant : Chandler & Thong-Ek 7th Floor, Bubhajit Building20 North Sathorn Road, Bagkok 10500 Tel : 02-266-6485 Fax : 02-266-6483

Internal Audit : Dharmniti Auditing and Tax Co.,Ltd.267/1 Pracharaj Sai 1 Road, Bangsue, Bangkok 10800Tel : 0-2587-8080 Fax : 0-2586-0301

Auditor : Ms. Thipawan NananuwatAuthorized Auditor Registration No. 3459Ernst & Young Office Limited 193/136-137 Rajadapisek Road, Bangkok 10110Tel: 0-2264-0777 Fax: 0-2264-0789-90

Financial Institution : Bangkok Bank Public Company Limited, Head OfficeTel : 0-2626-3688 Fax : 0-2231-4018Kasikornbank Public Company Limited, Sriracha BranchTel : 038-762 787 Fax : 038-762 791

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Message from the Chairman

In 2007 the country economic growth was deemed slow down further from the previous year due

to several adverse factors, the operating results of the company were unavoidably affected; but as the

consequence of the intensive control of the production cost and relevant the adverse impacts were

effectively mitigated and the earning from operation was only 2.89% lower from the year 2006. However, due

to the income tax incurred after the expiry of the BOI privilege of the Phase 1 plant in March 2006 the net

income was further reduced to 10.75% lower than the previous year.

The Board of Directors not only encouraged the management to maximize the earning from the existingpower plant but also motivated the companyûs environmental friendly policy and thus the company wasawarded as çAn outstanding enterprise in the power plant sector that effectively implemented the preventionand mitigation in compliance with the measures stipulated in the environmental impact assessment reportséin the EIA Monitor Awards 2007 by the Ministry of Natural Resources and Environment. In addition the Boardof Director also encouraged the extension of the business development in the renewable energy to the otherindustrial area other than the Saha Group industrial park. The subsidiary company çSahacogen KabinburiCompany Limitedé was therefore renamed as çSahacogen Green Company Limitedé for appropriately processingthe business development. The company had also adjusted the project execution plan by enhancing thepublic relation work and the biomass fuel plan. The constructions of the biomass power plants in Saha GroupIndustrial Park Lamphun and Kabinburi were rescheduled to commence by 4rd quarter of the year 2008. Thefeasibility study with several strategic partners will also be concluded in the year 2008.

On behalf of the Board of Directors, I wish to express our gratitude to the shareholders and business

partners as well as to our other partnership units including state and private entities for their valuable support

throughout the financial year. I also wish to extend our appreciation to all of our executives and employees

for their willing efficiency and hard work. Their commitment to our overall vision has enabled us to effectively

achieve all of our goals and objectives.

Admiral

(Anuchit Bekanan)

Chairman

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(π“¬πææ√ æß…å‡«™)

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√“¬ß“π§≥–°√√¡°“√μ√«® Õ∫

5

Report of the Audit Committee

The role of the Audit Committee is to assist the Board of Directors in its oversight of the companyûsfinancial reporting process. The Audit Committee is composed of Mr. Nophorn Bhongsvej, Pol. Gen. SomchaiPrabhasabhakdi, Mr. Amorn Asvanunt and Mr. Surong Ongkosit.

The Board of Directors in its business judgment has determined that all members of the AuditCommittee are çindependenté as required by the regulations of the Stock Exchange of Thailand. The AuditCommittee operates pursuant to a charter that was approved by the Board of Directors at the 5/2550 meetingon August 7, 2007. As set forth in the charter, management of the Company is responsible for the preparation,presentation and integrity of the Companyûs financial statements, the Companyûs accounting and financialreporting principles and internal control processes all of which are designed to assure compliance with accountingstandards and applicable laws and regulations. The independent auditors are responsible for auditing theCompanyûs consolidated financial statements and expressing an opinion as to whether they are presentedfairly, in all material respects, in conformity with the accounting principles generally accepted in Thailand.

In performance of its oversight function the Audit Committee has:1. Considered and discussed the audited consolidated financial statements with management and the

auditors. The Audit Committeeûs review included a discussion of the quality, the acceptability of theaccounting principles, the reasonableness of significant judgments and the clarity of disclosures in theconsolidated financial statements.

2. The Audit Committee meets with the internal auditors on a quarterly basis with management present todiscuss the results of their examinations, their evaluations of the Companyûs internal control processesand the overall quality of the Companyûs financial reporting. No internal control deficiencies that maymaterially affect the Companyûs operation were detected with minor shortfalls receiving prompt andimmediate remedial action from management. Overall the Company has an established and effectiveinternal control process with management consistently cooperating with the internal auditors in thereview process.

3. Discussed with the internal auditor related transaction as defined by the announcements of the StockExchange of Thailand and the Securities and Exchange Commission. The transaction concerned thehiring of Pitakkij Co., Ltd. a related company, in the construction and engineering works of oursubsidiary, Sahacogen Green Co., Ltd. in Kabinburi. The transaction was carefully considered with theconclusion that the transaction was done at çarms length çand the prices quoted were at or belowmarket and the services beneficial to the Company. The transaction was subsequently submitted to theBoard of Directors for approval. Additionally, the Audit Committee proposed that the Board approvefuture transaction up to Baht 20 million per transaction with Pitakkij Co., Ltd. so as to increaseoperational flexibility.

4. Discussed with the Companyûs internal and independent auditors the overall scope and plans for theirrespective audits for the year 2008.

5. The Audit Committee approves the appointment of Ernst & Young Office Limited to be the companyûsauditors for the year 2008. Ernst & Young Office Limited has consistently and satisfactorily performedthe Companyûs audit since 2000. The Audit Committee also considered the auditorsû professional fee ofBaht 740,000. The approval of the auditors and fees need to be ratified by the shareholders at theAnnual General Meeting.

Based upon the report described and subject to the limitation of the role and responsibilities of the AuditCommittee referred to in the charter, the Audit committee recommended to the Board of Directors and theBoard has approved that the audited financial statements be included in our Annual Report.

(Mr. Nophorn Bhongsvej)Chairman of the Audit Committee

6

≈—°…≥–°“√ª√–°Õ∫∏ÿ√°‘®

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Power Producer: SPP) ‚¥¬¡’‚√ß‰øøÑ“μ—ÈßÕ¬Ÿà∫πæ◊Èπ∑’Ëª√–¡“≥ 25 ‰√à ¿“¬„π‡¢μ «πÕÿμ “À°√√¡‡§√◊Õ Àæ—≤πå-»√’√“™“

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and Maintenance Agreement) ªí®®ÿ∫—π‚√ß‰øøÑ“¡’°”≈—ß°“√º≈‘μ‰øøÑ“·≈–‰ÕπÈ”‰¥â 174 ‡¡°–«—μμå ·≈– 81 μ—πμàÕ

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º≈‘μ·≈–®”Àπà“¬Õ¬à“ß ¡Ë”‡ ¡Õ

7

Nature of Business

The company is a Small Power Producer (SPP) producing and distributing electricity and steamunder a concession granted by the Ministry of Energy. The power plant is a natural gas fired cogenerationcombined cycle type, located on 25-rai of land in the Sriracha Saha Group Industrial Park, Nongkharm,Sriracha, Chonburi province. Under an Operation and Maintenance Agreement, Operational Energy GroupCompany Limited has been employed for the operation and maintenance of the facilities. The company hasagreed to transmit and deliver electricity to the Electricity Generating Authority of Thailand (EGAT) and sellelectricity and steam to Saha Pattana Inter-Holding PCL. The latter is the sole distributor of electricity andsteam to its industrial park tenants located in Sriracha Saha Group Industrial Park. At present, the powerplant is operating a total net plant output of 174 megawatts of electricity and 81 tons of steam per hourwhich will be sufficient to meet a rapid increase in demand for electricity and steam in the Sriracha SahaGroup Industrial Park.

In addition, the company has developed Biomass Fired Plant Project and established Sahacogen KabinburiCo.,Ltd. in October 2006, then changed its name to Sahacogen Green Co.,Ltd. a subsidiary company, onOctober 31, 2007 for the extension of business development in the renewable energy. In 2007, the companyhas strated developing biomass fired power project, approximately 10 megawatts of electricity at the SahaGroup Industrial Parkin Kabinburi and Lamphum provinces, including another two projects in the otherpotenial industrial areas. To ensure biomass fuel sufficiently supplied to production process, the companyhas explored and created two energy plant farming in order to grow the fast growing tree plantation at SahaGroup Industrial Park In Karbinburi and Lamphun provinces respectively. These plantation farming are notonly utilized for growing fast tree plantation, but also research farming. The company has cooperated with theFaculty of Forestry, Kasetsart University to make a research on fast tree seeds, improving and developing itsspout for more production in the future.

Business ObjectivesThe company has four main business objectives:ë To efficiently and reliably generate and supply high-quality electricity and steamë To effectively manage the production process in order to minimize costs and deliver maximum profits to

the shareholdersë To maintain the corporate social responsibility including the intensive control of environmental impactë To establish the companyûs management structure to internationally accepted standards

Policy and Market Characteristics

The company realizes that the quality and productive of our industrial client will be materially affected byinterruptions in electricity and steam supply; therefore, the company focuses on continual improvement of thereliability of its generation, distribution system, and responsive 24 hours customer services along withtechnical services as a key strategy. Moreover, pricing policy is one of the companyûs marketing strategies.The companyûs electricity charge to industrial users is based on the rate announced by the ProvincialElectricity Authority with an applicable discount dependent on the quantity purchased. At the same time, thesteam price is lower comparing to the cost of their own steam production. As a result, all industrial tenantsin the Sriracha Saha Group Industrial Park are currently connected to our electricity distribution.

Marketing and CompetitionUnder the Small Power Producer (SPP) program and a granted concession, the company is able to sell

electricity only to EGAT and industrial users specified in the granted concession under the conditions on theelectricity purchase contract. Therefore, only the Provincial Electricity Authority is the competitor. However,the company does not consider its market its market monopolized and still continually develops andimproves its services for more customersû satisfaction.

8

≈—°…≥–°“√®—¥„Àâ ‰¥â¡“ ÷́Ëßº≈‘μ¿—≥±å‡æ◊ËÕ®”Àπà“¬ªí®®ÿ∫—π∫√‘…—∑¡’‚√ß‰øøÑ“‡æ’¬ß·Ààß‡¥’¬« μ—ÈßÕ¬Ÿà¿“¬„π‡¢μ «πÕÿμ “À°√√¡‡§√◊Õ Àæ—≤πå-»√’√“™“ ®—ßÀ«—¥™≈∫ÿ√’

‚¥¬¡’°”≈—ß°“√º≈‘μ ª√‘¡“≥°“√º≈‘μ ·≈–Õ—μ√“°”≈—ß°“√º≈‘μ‰øøÑ“·≈–‰ÕπÈ”„πªï 2550 ¥—ßμàÕ‰ªπ’È

‰øøÑ“ ªï 2550 ªï 2549

°”≈—ß°“√º≈‘μμ‘¥μ—Èß (Installed Capacity) (‡¡°–«—μμå) 174 174

ª√‘¡“≥æ≈—ßß“π‰øøÑ“ Ÿß ÿ¥∑’Ë “¡“√∂º≈‘μ‰¥â( ‡¡°–«—μμå-™—Ë«‚¡ß/ªï) 1,524,240 1,524,240

ª√‘¡“≥æ≈—ßß“π‰øøÑ“∑’Ëº≈‘μÕÕ°®”Àπà“¬®√‘ß ( ‡¡°–«—μμå-™—Ë«‚¡ß/ªï) 957,544 945,745

Õ—μ√“°“√„™âª√–‚¬™πå (√âÕ¬≈–) 62.82 62.05

‰ÕπÈ” ªï 2550 ªï 2549

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

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

ª√‘¡“≥‰ÕπÈ”º≈‘μ·≈– àßÕÕ°®”Àπà“¬®√‘ß (μ—π/ªï) 298,963 296,640

Õ—μ√“°“√„™âª√–‚¬™πå (Utilization Factor) (√âÕ¬≈–) 42.13 41.81

«—μ∂ÿ¥‘∫À≈—°∑’Ë„™â„π°“√º≈‘μ«—μ∂ÿ¥‘∫À≈—°∑’Ë„™â„π¢∫«π°“√º≈‘μ§◊Õ °ä“´∏√√¡™“μ‘, πÈ”¡—π¥’‡´≈, πÈ” ·≈– “√‡§¡’μà“ßÊ √ÿª‰¥â¥—ßπ’È

ë °ä“´∏√√¡™“μ‘

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∫√‘…—∑‰¡à‡§¬ª√– ∫ªí≠À“‡√◊ËÕß§ÿ≥¿“æ°ä“´·≈–‡√◊ËÕßª√‘¡“≥°ä“´∑’Ë‰¡à‡æ’¬ßæÕ·μàÕ¬à“ß„¥

ë πÈ”¡—π¥’‡´≈

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ë πÈ”

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Õà“ß‡°Á∫πÈ”∑—Èß ‘Èπ‡∑à“°—∫ 120,000 ≈Ÿ°∫“»°å‡¡μ√ πÕ°®“°π’È∫√‘…—∑¬—ß √â“ß∫àÕ√—∫πÈ”¢π“¥§«“¡®ÿ 2,000 ≈Ÿ°∫“»°å‡¡μ√

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ë “√‡§¡’

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‡≈’È¬ßÀ¡âÕπÈ” (Demineralized Water) ‚¥¬ “√‡§¡’∑—ÈßÀ¡¥ “¡“√∂®—¥À“‰¥â®“°ºŸâº≈‘μ¿“¬„πª√–‡∑»

9

Product Sourcing and ServicesAs of 2007, the company has one power plant in operation located on the Sriracha Saha Group

Industrial Park, Chonburi, with its capacity and utilization as following:-

Electricity 2007 2006

Installed Capacity (megawatt) 174 174

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

Actual Production (megawatt-hour/year) 957,544 945,745

Utilization Factor (percentage) 62.82 62.05

Steam 2007 2006

Installed Capacity (ton/hour) 81 81

Maximum Capacity (ton/year) 709,560 709,560

Actual Production (ton/year) 298,963 296,640

Utilization Factor (percentage) 42.13 41.81

Raw MaterialsRaw materials for the power generation are natural gas, diesel oil, water and chemicals detailed as follows:

ë Natural GasThe 21-year Gas Supply Agreement with PTT Public Company Limited was signed since October 1,1998. An additional 4-year can be extended subject to the agreement by the parties one year prior theexpiry of the effective 21-year term. Neither supply interruptions nor unacceptable gas quality has beenexperienced since the commercial date.

ë Diesel OilDiesel oil is only a backup fuel for steam production during no the natural gas supply by whatsoeverreasons. In such an event the diesel oil would be used to produce steam from a backup boiler forserving the industrial steam demand.

ë WaterThe raw water is supplied under the 25-year purchases contract with Eastern Water ResourcesDevelopment and Management PCL executed on March 5, 1998. The company has a secondary watersource, a reservoir with a water storage capacity of 120,000 cubic meters in the Sriracha Saha GroupIndustrial Park. For emergency purpose the company had also built 2,000 cubic meters retention pondwithin the plant boundary.

ë ChemicalsChemicals are domestically supplied for the demineralized water production.

10

¡“μ√°“√√Õß√—∫„π°√≥’∑’Ë‚√ß‰øøÑ“ª√– ∫ªí≠À“∑“ß¥â“π°“√º≈‘μ∫√‘…—∑¡ÿàß¡—Ëπ„π°“√º≈‘μ·≈–®”Àπà“¬‰øøÑ“∑’Ë¡’§ÿ≥¿“æ·≈–‡ ∂’¬√¿“æ ·¡â«à“®–‡°‘¥‡Àμÿ ÿ¥«‘ —¬∑’Ë∑”„Àâ∫√‘…—∑‰¡à “¡“√∂

àß¡Õ∫‰øøÑ“„Àâ‚√ßß“π„π «πÕÿμ “À°√√¡‡§√◊Õ Àæ—≤πå-»√’√“™“‰¥â ‰¡à«à“®–¥â«¬‡Àμÿº≈‡§√◊ËÕß®—°√∑’Ë∫√‘…—∑„™â„π°“√º≈‘μ

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‡ªìπª√–®”∑ÿ° 6 ‡¥◊Õπ ∑”„Àâ§ÿ≥¿“æ ‘Ëß·«¥≈âÕ¡„π¥â“πμà“ßÊ Õ—πª√–°Õ∫¥â«¬ §ÿ≥¿“æπÈ” Õ“°“» √–¥—∫‡ ’¬ß¿“¬„π

‚√ß‰øøÑ“ ·≈–§ÿ≥¿“æπÈ”∑‘Èß Õ¬Ÿà„π‡°≥±å¥’°«à“∑’Ë¡“μ√∞“π°”Àπ¥ ·≈–¬—ß‰¥â√—∫°“√√—∫√Õß√–∫∫°“√®—¥°“√ ‘Ëß·«¥≈âÕ¡μ“¡

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(MASCI) ®“°°“√μ√«®ª√–‡¡‘πμ“¡¡“μ√∞“π∑’Ëª√—∫ª√ÿß„À¡à ‡¡◊ËÕ 25 æƒ»®‘°“¬π 2548 ¥â«¬§«“¡¡ÿàß¡—Ëπ„π°“√§«∫§ÿ¡

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‰øøÑ“„Àâ°—∫°“√‰øøÑ“ΩÉ“¬º≈‘μ·Ààßª√–‡∑»‰∑¬≈¥≈ßμ“¡°“√·¢Áß§à“¢Õß‡ß‘π∫“∑

μ“√“ß‡ª√’¬∫‡∑’¬∫√“¬‰¥â·¬°μ“¡ “¬º≈‘μ¿—≥±å(Àπà«¬ : ≈â“π∫“∑)

º≈‘μ¿—≥±åªï 2550 ªï 2549 ªï 2548

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

√“¬‰¥â®“°°“√¥”‡π‘πß“π

- ‰øøÑ“ (°“√‰øøÑ“ΩÉ“¬º≈‘μ·Ààßª√–‡∑»‰∑¬) 1,646.50 58.54 1,662.50 58.85 1,486.41 61.70

- ‰øøÑ“ ( «πÕÿμ “À°√√¡) 902.18 32.07 892.00 31.57 750.00 31.13

- ‰ÕπÈ”( «πÕÿμ “À°√√¡) 257.56 9.16 257.54 9.12 170.75 7.09

√«¡√“¬‰¥â®“°°“√¥”‡π‘πß“π 2,806.24 99.77 2,812.04 99.54 2,407.16 99.92

√“¬‰¥âÕ◊Ëπ 6.50 0.23 13.09 0.46 2.00 0.08

√“¬‰¥â√«¡ 2,812.74 100.00 2,825.13 100.00 2,409.16 100.00

°“√æ—≤π“∏ÿ√°‘®∏ÿ√°‘®°“√º≈‘μæ≈—ßß“π®“°æ≈—ßß“πÀ¡ÿπ‡«’¬π

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‡§√◊Õ Àæ—≤πå μ≈Õ¥®π√à«¡¡◊Õ°—∫æ—π∏¡‘μ√∑“ß∏ÿ√°‘®æ—≤π“‚§√ß°“√„π‡¢μÕÿμ “À°√√¡Õ◊ËπÊ¥â«¬ ·≈–‡ÀÁπ™Õ∫„Àâ¥”‡π‘π°“√

11

Preventative Maintenance regarding Production FailureWith the strong commitment of the reliable electricity supply to customers in the Sriracha Saha Group

Industrial Park the generation and distribution was therefore designed for the purpose. In the event of a majordisruption causing a total plant shutdown, an electricity from the Provincial Electricity Authority will beautomatically and simultaneously imported for serving the industrial demand. In addition, to maximize theavailability of the generation unit one backup gas turbine engine is available at the plant for replacing anyengine which may become unserviceable or require maintenance.

Environmental Management for the Power PlantThe company has set up a committee to continuously monitor and control the environmental

impact and has employed the Eastern Thai Consulting 1992 Co., Ltd. to conduct biannual reports coveringEnvironmental Impact Assessment which are submitted to the Office of Natural Resources andEnvironmental Policy and Planning (ONEP), Department of Industrial Works, and Office of Chonburi Industry.From the commercial date, all the environmental impacts have been mitigated and controlled at fairly lowerlevel than the legislative regulatory limits and in full compliance with the latest standard SIO 14001:2004which renewed and certified by the Management System Certification Institution (Thailand) or MASCI onNovember 25, 2005. Our intensive mitigation and control of the relevant environmental impact was wellrecognized by being selected and awarded as çAn outstanding enterprise in the power industry thatimplements appropriate prevention and mitigative measure in compliance with the Environment ImpactAssessmenté by the Office of Natural Resources and Environmental Policy and Planning, Ministry of NaturalResources and Environment in the EIA Monitoring Award 2007 on December 21, 2007.

Revenues StructureThe company has the earnings from electricity sale to EGAT, electricity and steam sale to industrial users

in Sriracha Saha Group Industrial Park. In 2007, the total income decreased to Baht 12.39 million due to theBaht appreciated against the US dollars which effected to the reduction of the revenues from sellingelectricity to EGAT.

The revenues characterized by the type of energy are as follows;(Unit: Million Baht)

Product2007 2006 2005

Revenue % Revenue % Revenue %

Operating Income

- Electricity (EGAT) 1,646.50 58.54 1,662.50 58.85 1,486.41 61.70

- Electricity (Industrial Park) 902.18 32.07 892.00 31.57 745.00 31.13

- Steam (Industrial Park) 257.56 9.16 257.54 9.12 170.75 7.09

Total Operating Income 2,806.24 99.77 2,812.04 99.54 2,407.16 99.92

Other Income 6.50 0.23 13.09 0.46 2.00 0.08

Total Revenue 2,812.74 100.00 2,825.13 100.00 2,409.16 100.00

Business DevelopmentRenewable Energy Business

After considering the biomass survey and research report along with the governmentally promoted cleanenergy program, the Board of Directors agreed and resolved that the subsidiary company çSahacogenKabinburi Co., Ltd.é was renamed to çSahacogen Green Co., Ltd.é in order to develop renewable energy

12

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°“√æ—≤π“‚§√ß°“√∑’Ë ”§—≠„πªï 2550 ª√–°Õ∫¥â«¬

ë ‚§√ß°“√º≈‘μæ≈—ßß“π®“°™’«¡«≈ °∫‘π∑√å∫ÿ√’

¡’°“√ª√—∫·ºπ°“√¥”‡π‘π‚§√ß°“√º≈‘μæ≈—ßß“π®“°™’«¡«≈„π‡¢μ «πÕÿμ “À°√√¡‡§√◊Õ Àæ—≤πå °∫‘π∑√å∫ÿ√’ ®. ª√“®’π∫ÿ√’

„Àâ Õ¥§≈âÕß°—∫°“√‡ª≈’Ë¬π·ª≈ß¢âÕ°”Àπ¥·≈–¢—ÈπμÕπ°“√¢ÕÕπÿ≠“μ¥”‡π‘π°“√‚§√ß°“√¥â“πæ≈—ßß“π ‚¥¬‡æ‘Ë¡°“√

∑”ß“π¥â“π¡«≈™π —¡æ—π∏å„Àâ§√Õ∫§≈ÿ¡æ◊Èπ∑’Ë¡“°¢÷Èπ ·≈–≈¥§«“¡‡ ’Ë¬ß¢Õß°“√®—¥À“‡™◊ÈÕ‡æ≈‘ß ¡’°“√‡√‘Ë¡¥”‡π‘π

‚§√ß°“√ª≈Ÿ°‰¡â‚μ‡√Á«‡æ◊ËÕ‡ªìπ·À≈àß™’«¡«≈∑’Ë¡’§«“¡¡—Ëπ§ß ‚¥¬„πªï·√°¡’°“√ª≈Ÿ°∫πæ◊Èπ∑’Ë√«¡ 900 ‰√à ·≈–Õ’° 2,000

‰√à„πªï 2551®“°·ºπ°“√ª≈Ÿ°∫πæ◊Èπ∑’Ë 10,000 ‰√à¿“¬„πªï 2554 ‚¥¬∫√‘…—∑‰¥â¥”‡π‘π°“√ √â“ß·ª≈ß “∏‘μ°“√ª≈Ÿ°‰¡â

‚μ‡√Á«„πæ◊Èπ∑’ËÕ”‡¿Õ°∫‘π∑√å∫ÿ√’ ·≈–√à«¡°—∫ ∂“∫—πæ—≤π“º≈‘μº≈∑“ß°“√‡°…μ√·≈–Õÿμ “À°√√¡‡°…μ√ ¡À“«‘∑¬“≈—¬

‡°…μ√»“ μ√å »÷°…“·π«∑“ßæ—≤π“‡¡≈Á¥æ—π∏ÿå ‡æ◊ËÕ‡æ‘Ë¡º≈º≈‘μ®“°°“√ª≈Ÿ°‰¡â‚μ‡√Á« √«¡∑—Èß‰¥â¡’°“√ª√–™“ —¡æ—π∏å

·≈– àß‡ √‘¡„Àâ¡’°“√ª≈Ÿ°‰¡â‚μ‡√Á«„πæ◊Èπ∑’Ë ‡æ◊ËÕ‡ √‘¡ √â“ß√“¬‰¥â„Àâ°—∫™ÿ¡™πÕ’°¥â«¬

ë ‚§√ß°“√º≈‘μæ≈—ßß“π®“°™’«¡«≈ ≈”æŸπ

∫√‘…—∑√à«¡¡◊Õ°—∫ ∂“∫—πæ—≤π“º≈‘μº≈∑“ß°“√‡°…μ√·≈–Õÿμ “À°√√¡‡°…μ√ ¡À“«‘∑¬“≈—¬‡°…μ√»“ μ√å »÷°…“

»—°¬¿“æ¢Õß™’«¡«≈„πæ◊Èπ∑’Ëæ∫«à“‡»…‡À≈◊Õ„™â®“°°“√‡°…μ√∑’Ë‰¡à¡’°“√„™âª√–‚¬™πå„π®—ßÀ«—¥≈”æŸπ ·≈–®—ßÀ«—¥„°≈â‡§’¬ß

‡æ’¬ßæÕ ”À√—∫°“√º≈‘μæ≈—ßß“π§«“¡√âÕπ√à«¡¢π“¥ 9.00 ‡¡°–«—μμå ®÷ß‰¥âπ”‡ πÕ‚§√ß°“√„Àâ∑’Ëª√–™ÿ¡ à«π√“™°“√

√–¥—∫®—ßÀ«—¥ Õ”‡¿Õ ·≈–μ”∫≈ √—∫æ‘®“√≥“‡ÀÁπ¢Õ∫„πÀ≈—°°“√μ“¡≈”¥—∫ Õ¬à“ß‰√°Áμ“¡ ¡’°“√°”Àπ¥·ºπß“π

¡«≈™π —¡æ—π∏å‡æ◊ËÕ √â“ß§«“¡‡¢â“„®·≈–‰¥â√—∫°“√‡ÀÁπ™Õ∫®“°™ÿ¡™π„πæ◊Èπ∑’Ë°àÕπ¥”‡π‘πß“π°àÕ √â“ß‚§√ß°“√ ´÷Ëß§“¥

«à“®–‡√‘Ë¡‰¥â„π‰μ√¡“ ∑’Ë 4 ¢Õßªï 2551

ë ‚§√ß°“√√à«¡∑ÿπ

¡’°“√∑”¢âÕμ°≈ß√à«¡»÷°…“§«“¡‡ªìπ‰ª‰¥â¢Õß°“√¥”‡π‘π‚§√ß°“√æ≈—ßß“πÀ¡ÿπ‡«’¬π√à«¡°—∫ºŸâª√–°Õ∫°“√Õ’ËπÊÀ≈“¬√“¬

´÷Ëß¡’§«“¡§◊∫Àπâ“∑’Ëπà“æÕ„®·≈–®– “¡“√∂ √ÿª§«“¡‡À¡“– ¡¢Õß°“√à«¡∑ÿπ‰¥â„πªï 2551

∏ÿ√°‘®‚√ß‰øøÑ“§«“¡√âÕπ√à«¡¢π“¥‡≈Á°¡“°®“°º≈°“√»÷°…“·≈–‡°Á∫¢âÕ¡Ÿ≈°“√„™âæ≈—ßß“π¢Õß°≈ÿà¡‚√ßß“πÕÿμ “À°√√¡μ“¡‡ âπ∑“ß√–∫∫∑àÕ°ä“´∏√√¡™“μ‘ ∫√‘…—∑

‰¥âπ”‡ πÕ°“√√à«¡∑ÿπ»÷°…“·≈–æ—≤π“‚§√ß°“√‚√ß‰øøÑ“§«“¡√âÕπ√à«¡¢π“¥‡≈Á° 10-15 ‡¡°–«—μμå „π≈—°…≥–√à«¡∑ÿπ°—∫

ºŸâª√–°Õ∫°“√Õÿμ “À°√√¡‡ªÑ“À¡“¬ ÷́Ëß‰¥âæ‘®“√≥“‰ª à«πÀπ’Ëß„πªï 2550 ‚¥¬¬—ß¡’°“√¥”‡π‘π°“√μàÕ‡π◊ËÕß·≈–§“¥«à“®–

√ÿªº≈‰¥â„πªï 2551

13

projects not only in the Saha Group owned industrial park but also in the other potential areas. The activerenewable projects are as follows:ë Kabinburi Biomass Fired Power Project

The Board of Directors agreed and resolved that the project execution plan was adjusted to reflectthe alteration of the procedural permits and to allow additional time for the biomass supply preparation.The major activities in the past year included the commencing of the energy plant farming and theenhancement of the public relation work. The company had a successful first year plantation covering900 Rais. Additional 2,000 Rais plantation is planned for the year 2008 and totaling 10,000 Rais areexpected to achieve in 2011. As to ensure the optimal productivity the the company has engagedwith the Kasetsart Agricultural Product Improvement Institute (KAPI) to provide relevant research anddevelopment of the fast growing tree plantation. However, the company has promotes and extended thefast growing tree plantation to the communities for their additional income.

ë Lamphun Biomass Fired Plant ProjectIn response to the advised Lamphun governorûs intention to cut down the air pollution by eliminating theburning of the agro wastes in the farming area, the company with the cooperation from KasetsartAgricultural Product Improvement Institute (KAPI) had conducted and confirmed the adequacy of agrowaste for a 9.00 Megawatts combined heat and power plant in Saha Group Industrial Park Lamphun.Subsequently the proposed project idea was presented to the Lamphun Provincial Meeting, AmphoeMuang Official Meeting and Tampon Pasak Official Meeting respectively. The presented project wasconceptually accepted but further clarification was suggested. The public relation work had indeedinformally commenced since July 2007 but the formal public hearing will start in February 2008 onward.The execution of the project is scheduled to begin in the 4th quarter of 2008.

ë Joint DevelopmentThe company also cooperated with few strategic partners processing the feasibility studies of thebiomass fired power plant projects in various locations. The studies are progressing well and theconclusions will be available in early 2008.

Gas Fired Combined Heat Power(CHP) BusinessBased on the market survey accomplished in the first half of 2007, the company has had proposed

several joint developments of the CHP plants with several potential industrials along the gas distribution

system. The proposals are in the evaluating process and to be followed up in 2008.

14

‚§√ß √â“ß°“√∂◊ÕÀÿâπ·≈–°“√®—¥°“√

‚§√ß √â“ßºŸâ∂◊ÕÀÿâπ¢Õß∫√‘…—∑

√“¬°“√ Àÿâπ (≈â“π) ∫“∑ (≈â“π)

∑ÿπ®¥∑–‡∫’¬π 955 955

∑ÿπ™”√–·≈â« 955 955

√“¬™◊ËÕºŸâ∂◊ÕÀÿâπ√“¬„À≠à 10 Õ—π¥—∫·√° ∑’Ëª√“°Ø„π ¡ÿ¥∑–‡∫’¬πºŸâ∂◊ÕÀÿâπ ≥ «—π∑’Ë 31 ∏—π«“§¡ 2550 ‡ªìπ¥—ßπ’È

ºŸâ∂◊ÕÀÿâπ ®”π«πÀÿâπ % ∑’Ë∂◊ÕÀÿâπ

1. ∫¡®. Àæ—≤π“ Õ‘π‡μÕ√å‚Œ≈¥‘Èß 147,697,030 15.47

2. ∫¡®. ‡Õ ·Õπ¥å‡® Õ‘π‡μÕ√å‡π™—Ëπ·π≈ ‡Õπ‡μÕ√å‰æ√ å 133,306,260 13.96

3. ∫¡®. ‰Õ.´’.´’. Õ‘π‡μÕ√å‡π™—Ëπ·π≈ 99,432,960 10.41

4. ∫¡®. Àæ—≤πæ‘∫Ÿ≈ 68,013,730 7.12

5. π“¬«’√æ—≤πå æŸπ»—°¥‘ÏÕÿ¥¡ ‘π 57,400,000 6.01

6. π“¬ ”‡√‘ß ¡πŸ≠º≈ 37,428,300 3.92

7. ∫¡®. ‰∑¬«“‚°â 32,800,000 3.43

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

9. ∫®. ·™¡ªá‡Õ™ 20,500,000 2.15

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

°“√°√–®“¬°“√∂◊ÕÀÿâπμ“¡ª√–‡¿∑¢Õß∫ÿ§§≈∑’Ë∂◊Õ≥ «—π∑’Ë 31 ∏—π«“§¡ 2550

®”π«πºŸâ∂◊ÕÀÿâπ ®”π«πÀÿâπ %

π‘μ‘∫ÿ§§≈ —≠™“μ‘‰∑¬ 25 704,474,665 73.77

—≠™“μ‘μà“ß¥â“« 1 9,632,000 1.01

√«¡ 26 714,106,665 74.78

∫ÿ§§≈∏√√¡¥“ —≠™“μ‘‰∑¬ 328 240,843,335 25.22

—≠™“μ‘μà“ß¥â“« 1 50,000 0.01

√«¡ 329 240,893,335 25.22

√«¡∑—Èß ‘Èπ 355 955,000,000 100

π‚¬∫“¬°“√®à“¬‡ß‘πªíπº≈ë ∫√‘…—∑

∫√‘…—∑¡’π‚¬∫“¬®à“¬‡ß‘πªíπº≈„πÕ—μ√“‰¡àμË”°«à“√âÕ¬≈– 80 ¢Õß°”‰√ ÿ∑∏‘μ“¡ß∫°“√‡ß‘π‡©æ“–°‘®°“√ „π·μà≈–√Õ∫∫—≠™’

∑—Èßπ’È§≥–°√√¡°“√¢Õß∫√‘…—∑¡’Õ”π“®„π°“√æ‘®“√≥“¬°‡«âπ‰¡à¥”‡π‘π°“√μ“¡π‚¬∫“¬¥—ß°≈à“« À√◊Õ‡ª≈’Ë¬π·ª≈ßπ‚¬∫“¬

¥—ß°≈à“«‰¥â‡ªìπ§√—Èß§√“« ‚¥¬Õ¬Ÿà¿“¬„μâ‡ß◊ËÕπ‰¢∑’Ë°“√¥”‡π‘π°“√¥—ß°≈à“«®–μâÕß°àÕ„Àâ‡°‘¥ª√–‚¬™πå Ÿß ÿ¥μàÕºŸâ∂◊ÕÀÿâπ ‡™àπ

„™â‡ªìπ∑ÿπ ”√Õß ”À√—∫°“√™”√–§◊π‡ß‘π°Ÿâ „™â‡ªìπ‡ß‘π≈ß∑ÿπ‡æ◊ËÕ¢¬“¬∏ÿ√°‘®¢Õß∫√‘…—∑ À√◊Õ°√≥’¡’°“√‡ª≈’Ë¬π·ª≈ß

¿“«–μ≈“¥ ÷́ËßÕ“®¡’º≈°√–∑∫μàÕ°√–· ‡ß‘π ¥¢Õß∫√‘…—∑„πÕπ“§μ ‚¥¬°“√®à“¬‡ß‘πªíπº≈®–‡ªìπ‰ªμ“¡¢âÕ∫—ß§—∫

15

Shareholders and Management Structure

Equity Structure

Item Share ( in millions) Value (million Baht)

Registered Capital 955 955

Paid-up Capital 955 955

Top Ten of Shareholders as of December 31, 2007 as following:-

Shareholders No. of Shares % Holder

1. Saha Pattana Inter-Holding PCL 147,697,030 15.47

2. S&J International Enterprises PCL 133,306,260 13.96

3. I.C.C. International PCL 99,432,960 10.41

4. Saha Pathanapibul PCL 68,013,730 7.12

5. Mr. Veerapat Punsak-Udomsin 57,400,000 6.01

6. Mr. Samreng Manupol 37,428,300 3.92

7. Thai Wacoal PCL 32,800,000 3.43

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

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

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

Types of ShareholdersAs of December 31, 2007

No. of Shareholders No. of Shares %

Juristic person Thai 25 704,474,665 73.77

Foreigner 1 9,632,000 1.01

Total 26 714,106,665 74.78

General public Thai 328 240,843,335 25.22

Foreigner 1 50,000 0.01

Total 329 240,893,335 25.22

Grand Total 355 955,000,000 100

Dividend Policyë Sahacogen (Chonburi) PCL

The company has a dividend policy to pay out at least 80% of only its net profits in each accountingperiod. The Board of Directors may occasionally waive or adjust this policy by consideration a conditioncreating the maximum benefit to the shareholders, such as reserves for debt services or for serving anyneeds during the market changes causing adverse impact to the company cash flow in the future and/or for expanding the business. Upon approval by the Board of Directors, the annual dividend payout isto be presented to the shareholdersû meeting for approval. Reference to the Articles of Association No.36, each payout of the dividend is subject to the net profit of the company only. If the company retains

16

ºŸâμ√«® Õ∫¿“¬„π

§≥–°√√¡°“√∫√‘…—∑

§≥–°√√¡°“√∫√‘À“√

°√√¡°“√ºŸâ®—¥°“√

‚§√ß°“√/«‘»«°√√¡°“√‡ß‘π/∏ÿ√°“√ ªØ‘∫—μ‘°“√‚√ß‰øøÑ“

æ—≤π“‚§√ß°“√

∫√‘À“√‚§√ß°“√

«‘»«°√√¡

«‘®—¬·≈–æ—≤π“

‚√ß‰øøÑ“»√’√“™“

‘Ëß·«¥≈âÕ¡·≈–§«“¡ª≈Õ¥¿—¬

°“√‡ß‘π

∫—≠™’

∫ÿ§§≈·≈–∏ÿ√°“√

ºŸâ∂◊ÕÀÿâπºŸâμ√«® Õ∫∫—≠™’

§≥–°√√¡°“√μ√«® Õ∫

¢Õß∫√‘…—∑¢âÕ 36 ‚¥¬¡’ “√– ”§—≠§◊Õ Àâ“¡®à“¬‡ß‘πªíπº≈®“°‡ß‘πª√–‡¿∑Õ◊ËππÕ°‡Àπ◊Õ®“°°”‰√ „π°√≥’∑’Ë∫√‘…—∑¬—ß¡’

¬Õ¥¢“¥∑ÿπ – ¡Õ¬ŸàÀâ“¡¡‘„Àâ·∫àß‡ß‘πªíπº≈ ‡¡◊ËÕ§≥–°√√¡°“√∫√‘…—∑¡’¡μ‘‡ÀÁπ™Õ∫„Àâ®à“¬‡ß‘πªíπº≈ª√–®”ªï·≈â« ®–

μâÕßπ”‡ πÕ¢ÕÕπÿ¡—μ‘μàÕ∑’Ëª√–™ÿ¡ºŸâ∂◊ÕÀÿâπ ‡«âπ·μà‡ªìπ°“√®à“¬‡ß‘πªíπº≈√–À«à“ß°“≈ „Àâ§≥–°√√¡°“√∫√‘…—∑¡’Õ”π“®

Õπÿ¡—μ‘„Àâ®à“¬‡ß‘πªíπº≈‰¥â ·≈â«„Àâ√“¬ß“π„Àâ∑’Ëª√–™ÿ¡ºŸâ∂◊ÕÀÿâπ∑√“∫„π°“√ª√–™ÿ¡§√“«μàÕ‰ª ·≈–∫√‘…—∑®–¥”‡π‘π°“√

®à“¬‡ß‘πªíπº≈„Àâ°—∫ºŸâ∂◊ÕÀÿâπ¿“¬„πÀπ÷Ëß (1) ‡¥◊Õππ—∫·μà«—π∑’Ë∑’Ëª√–™ÿ¡ºŸâ∂◊ÕÀÿâπÀ√◊Õ§≥–°√√¡°“√≈ß¡μ‘·≈â« (∫√‘…—∑‰¥â

‡ªî¥‡º¬√“¬≈–‡Õ’¬¥°“√®à“¬‡ß‘πªíπº≈√“¬ªï„π·∫∫ 56-1 À—«¢âÕ 8.3 π‚¬∫“¬°“√®à“¬‡ß‘πªíπº≈)

ë ∫√‘…—∑¬àÕ¬

∫√‘…—∑¡’π‚¬∫“¬„Àâ∫√‘…—∑¬àÕ¬®à“¬‡ß‘πªíπº≈‚¥¬¢÷ÈπÕ¬Ÿà°—∫º≈°“√¥”‡π‘πß“π¢Õß∫√‘…—∑¬àÕ¬‡ªìπÀ≈—°

‚§√ß √â“ß°“√®—¥°“√Õß§å°√‚§√ß √â“ß°“√®—¥°“√Õß§å°√¢Õß∫√‘…—∑ ≥ 31 ∏—π«“§¡ 2550 √ÿª‰¥â¥—ßπ’È

17

Internal Auditor

Board of Directors

Executive Committee

Managing Director

Project/Engineer SectionFinance/Administration Operation

Project Development

Project Management

Engineering

Research &Development

Sriracha Plant

Environment &Safety

Finance

Account

Personnel &Administration

ShareholdersAuditors

Audit Committee

loss, the dividend payment is prohibited. The Board of Directors is authorized to pay an interim dividendand report such payout at the next shareholdersû meeting, however, the annual dividend payment shallbe proposed to the shareholdersû meeting for approval. As a rule, the company shall pay the dividendwithin one (1) month after the date of shareholdersû approval on the shareholdersû meeting or the Boardof Directorsû meeting. (Details of dividend payment was disclosed on the annual statement (Form 56-1)on the section 8.3 the dividend payment policy).

ë Subsidiary Company

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

The Company StructureThe Companyûs structure as of December 31, 2007 is as follow:

18

‚§√ß √â“ß°√√¡°“√∫√‘…—∑ ≥ «—π∑’Ë 31 ∏—π«“§¡ 2550 ª√–°Õ∫¥â«¬§≥–°√√¡°“√∫√‘…—∑ §≥–°√√¡°“√μ√«® Õ∫

·≈–§≥–°√√¡°“√∫√‘À“√ ‚¥¬§≥–°√√¡°“√∫√‘…—∑ ¡’°√√¡°“√√«¡∑—Èß ‘Èπ®”π«π 13 ∑à“π ¥—ß√“¬π“¡μàÕ‰ªπ’È

√“¬™◊ËÕ ®”π«πÀÿâπ §≥–°√√¡°“√ §≥–°√√¡°“√ §≥–°√√¡°“√ «—π∑’Ë‰¥â√—∫·μàßμ—Èß∑’Ë∂◊Õ§√Õß ∫√‘…—∑ ∫√‘À“√ μ√«® Õ∫

1. æ≈‡√◊Õ‡Õ° Õπÿ™‘μ ‡¿°–π—π∑πå 800,010 / 29 ¡’π“§¡ 25492. π“¬∫ÿ≥¬ ‘∑∏‘Ï ‚™§«—≤π“ 16,400,000 / 29 ¡’π“§¡ 25493. π“¬∫ÿ≠‡°’¬√μ‘ ‚™§«—≤π“ 11,310,410 / / 29 ¡’π“§¡ 25494. π“¬«‘‚√®πå ∏’√«—≤πå«“∑’ 0 / / 6 ¡’π“§¡ 2550*1

5. π“¬∏’√–»—°¥‘Ï «‘°‘μ‡»√…∞å 2,040,000 / / 29 ¡’π“§¡ 25496. π“¬Õ—μ∂°√ °≈—Ëπ§«“¡¥’ 200,000 / / 6 ¡’π“§¡ 2550*1

7. π“¬ —πμ‘ «‘≈“ »—°¥“ππ∑å 310,000 / 6 ¡’π“§¡ 2550*1

8. π“¬∑πß »√’®‘μ√å 0 / / 6 ¡’π“§¡ 2550*1

9. π“¬∫ÿ≠ƒ∑∏‘Ï ¡À“¡πμ√’ 50,000 / 6 ¡’π“§¡ 2550*2

10. π“¬πææ√ æß…å‡«™ 0 / / 30 ¡’π“§¡ 254811. æ≈μ”√«®‡Õ° ¡™“¬ ª√–¿— ¿—°¥’ 0 / / 30 ¡’π“§¡ 254812. π“¬Õ¡√ Õ—»«“π—π∑å 1,000,000 / / 30 ¡’π“§¡ 254813. π“¬ ÿ√ß§å Õß§å‚¶…‘μ 0 / / 30 ¡’π“§¡ 2548

‡≈¢“πÿ°“√§≥–°√√¡°“√∫√‘…—∑ : π“¬«‘‚√®πå ∏’√«—≤πå«“∑’

À¡“¬‡Àμÿ : ∑’Ëª√–™ÿ¡ “¡—≠ºŸâ∂◊ÕÀÿâπ §√—Èß∑’Ë 5 ª√–®”ªï 2550 ‡¡◊ËÕ«—π∑’Ë 6 ¡’π“§¡ 2550 ¡’¡μ‘·μàßμ—Èß°√√¡°“√¥—ßπ’È

*1 °√√¡°“√∑’ËμâÕßÕÕ°μ“¡«“√– ∑’Ë‰¥â√—∫·μàßμ—Èß„Àâ¥”√ßμ”·Àπàß°√√¡°“√Õ’°«“√–Àπ÷Ëß

*2 °√√¡°“√∑’Ë‰¥â√—∫‡≈◊Õ°μ—Èß„Àâ¥”√ßμ”·Àπàß·∑π π“¬¢®√»—°¥‘Ï «—π√—μπå‡»√…∞ °√√¡°“√∑’ËμâÕßÕÕ°μ“¡«“√–·≈–ª√– ß§å®–‰¡à¢Õ√—∫

‡≈◊Õ°μ—Èß‡¢â“‡ªìπ°√√¡°“√Õ’°«“√–Àπ÷Ëß

√“¬ß“π°“√∂◊ÕÀÿâπ∫√‘…—∑¢Õß°√√¡°“√ „πªï 2549 ·≈–ªï 2550 ≥ «—π∑’Ë 31 ∏—π«“§¡ 2550 ¥—ßπ’È≈”¥—∫∑’Ë √“¬™◊ËÕ μ”·Àπàß ®”π«πÀÿâπ ®”π«πÀÿâπ À¡“¬‡Àμÿ

(‡æ‘Ë¡/≈¥)ªï 2549 ªï 2550 √–À«à“ßªï

1 æ≈‡√◊Õ‡Õ° Õπÿ™‘μ ‡¿°–π—π∑πå ª√–∏“π°√√°“√ 800,010 800,010 - §√∫«“√–‡¡◊ËÕ‡¥◊Õπ¡’§. 49·μàßμ—Èß„À¡à‡¡◊ËÕ«—π∑’Ë 29 ¡’§. 49

2 π“¬∫ÿ≥¬ ‘∑∏‘Ï ‚™§«—≤π“ °√√¡°“√ 16,400,000 16,400,000 - §√∫«“√–‡¡◊ËÕ‡¥◊Õπ¡’§. 49·μàßμ—Èß„À¡à‡¡◊ËÕ«—π∑’Ë 29 ¡’§. 49

3 π“¬∫ÿ≠‡°’¬√μ‘ ‚™§«—≤π“ °√√¡°“√·≈– 10,816,410 11,310,410 494,000 §√∫«“√–‡¡◊ËÕ‡¥◊Õπ¡’§. 49ª√–∏“π°√√¡°“√∫√‘À“√ ·μàßμ—Èß„À¡à‡¡◊ËÕ«—π∑’Ë 29 ¡’§. 49

4 π“¬«‘‚√®πå ∏’√«—≤πå«“∑’ °√√¡°“√ºŸâ®—¥°“√·≈–°√√¡°“√∫√‘À“√ - - - §√∫«“√–‡¡◊ËÕ‡¥◊Õπ¡’§. 50·μàßμ—Èß„À¡à‡¡◊ËÕ«—π∑’Ë 6 ¡’§. 50

5 π“¬∏’√–»—°¥‘Ï «‘°‘μ‡»√…∞å °√√¡°“√·≈–°√√¡°“√∫√‘À“√ 1,840,000 2,040,000 200,000 §√∫«“√–‡¡◊ËÕ‡¥◊Õπ¡’§. 49·μàßμ—Èß„À¡à‡¡◊ËÕ«—π∑’Ë 29 ¡’§. 49

6 π“¬Õ—μ∂°√ °≈—Ëπ§«“¡¥’ °√√¡°“√·≈–°√√¡°“√∫√‘À“√ 200,000 200,000 - §√∫«“√–‡¡◊ËÕ‡¥◊Õπ¡’§. 50·μàßμ—Èß„À¡à‡¡◊ËÕ«—π∑’Ë 6 ¡’§. 50

7 π“¬ —πμ‘ «‘≈“ »—°¥“ππ∑å °√√¡°“√ 310,000 310,000 - §√∫«“√–‡¡◊ËÕ‡¥◊Õπ¡’§. 50·μàßμ—Èß„À¡à‡¡◊ËÕ«—π∑’Ë 6 ¡’§. 50

8 π“¬∑πß »√’®‘μ√å °√√¡°“√·≈–°√√¡°“√∫√‘À“√ - - - §√∫«“√–‡¡◊ËÕ‡¥◊Õπ¡’§. 50·μàßμ—Èß„À¡à‡¡◊ËÕ«—π∑’Ë 6 ¡’§. 50

9 π“¬∫ÿ≠ƒ∑∏‘Ï ¡À“¡πμ√’ °√√¡°“√ 50,000 50,000 - √—∫μ”·Àπàß‡¡◊ËÕ«—π∑’Ë 6 ¡’§. 50(·∑ππ“¬¢®√»—°¥‘Ï«—π√—μπå‡»√…∞)

10 π“¬πææ√ æß…å‡«™ °√√¡°“√Õ‘ √– - - - §√∫«“√–‡¡◊ËÕ‡¥◊Õπ¡’§. 48·≈–ª√–∏“π°√√¡°“√μ√«® Õ∫ ·μàßμ—Èß„À¡à‡¡◊ËÕ«—π∑’Ë 30 ¡’§. 48

11 æ≈μ”√«®‡Õ° ¡™“¬ ª√–¿— ¿—°¥’ °√√¡°“√Õ‘ √–·≈–°√√¡°“√μ√«® Õ∫ - - - §√∫«“√–‡¡◊ËÕ‡¥◊Õπ¡’§. 48·μàßμ—Èß„À¡à‡¡◊ËÕ«—π∑’Ë 30 ¡’§. 48

12 π“¬Õ¡√ Õ—»«“π—π∑å °√√¡°“√Õ‘ √–·≈–°√√¡°“√μ√«® Õ∫ 1,000,000 1,000,000 - §√∫«“√–‡¡◊ËÕ‡¥◊Õπ¡’§. 48·μàßμ—Èß„À¡à‡¡◊ËÕ«—π∑’Ë 30 ¡’§. 48

13 π“¬ ÿ√ß§å Õß§å‚¶…‘μ °√√¡°“√Õ‘ √–·≈–°√√¡°“√μ√«® Õ∫ - - - §√∫«“√–‡¡◊ËÕ‡¥◊Õπ¡’§. 48·μàßμ—Èß„À¡à‡¡◊ËÕ«—π∑’Ë 30 ¡’§. 48

19

The company structure as of December 31, 2007 consisted of Board of Directors, ExecutiveCommittee, and Audit Committee. Total 13 directors appointed by the shareholders were the members of theBoard of Directors, as listed below:

Name Proportion of Board of Executive Audit AppointedSecurity holding Directors Committee Committee

1. Admiral Anuchit Bekanan 800,010 / March 29, 20062. Mr. Boonsithi Chokwatana 16,400,000 / March 29, 20063. Mr. Boonkiet Chokwatana 11,310,410 / / March 29, 20064. Mr. Viroj Theeravatvatee 0 / / March 6, 2007*1

5. Mr. Thirasak Vikitset 2,040,000 / / March 29, 20066. Mr. Atthakorn Glankwamdee 200,000 / / March 6, 2007*1

7. Mr. Santi Vilassakdanont 310,000 / March 6, 2007*1

8. Mr. Tanong Srichit 0 / / March 6, 2007*1

9. Mr. Boonyarith Mahamontri 50,000 / March 6, 2007*2

10. Mr. Nophorn Bhongsvej 0 / / March 30, 200511. Pol. Gen. Somchai Prabhasabhakdi 0 / / March 30, 200512. Mr. Amorn Asvanunt 1,000,000 / / March 30, 200513. Mr. Surong Ongkosit 0 / / March 30, 2005

Secretary to the Board of Directors : Mr. Viroj Theeravatvatee

Notes : The Annual Shareholdersû Meeting No. 5 on March 6, 2007 approved the appointments of the following Directors:*1 The Director whose term was expired was appointed to be the Director for another term.*2 The Director was appointed in order to replace Mr. Khachornsakdi Vanaratseath whose term was expired and not to

be voted and re-elected to be the Director.

Share Ownership by the Company Directors in 2006 and 2007 as of December 31, 2007 was as follow:

No. Name Position (No. of Shares) Increment NoteYear 2006 Year 2007

1 Admiral Anuchit Bekanan Chairman 800,010 800,010 - Reappointed to another termon March 29, 2006

2 Mr. Boonsithi Chokwatana Director 16,400,000 16,400,000 - Reappointed to another termon March 29, 2006

3 Mr. Boonkiet Chokwatana Director & Chairman of Executive 10,816,410 11,310,410 494,000 Reappointed to another termCommittee on March 29, 2006

4 Mr. Viroj Theeravatvatee Managing Director & Executive - - - Reappointed to another termCommittee on March 6, 2007

5 Mr. Thirasak Vikitset Director & Executive Committee 1,840,000 2,040,000 200,000 Reappointed to another termon March 29, 2006

6 Mr. Atthakorn Glankwamdee Director & Executive Committee 200,000 200,000 - Reappointed to another termon March 6, 2007

7 Mr. Santi Vilassakdanont Director 310,000 310,000 - Reappointed to another termon March 6, 2007

8 Mr. Tanong Srichit Director & Executive Committee - - - Reappointed to another termon March 6, 2007

9 Mr. Boonyarith Mahamontri Director 50,000 50,000 - Appointed on March 6, 2007(replacing Mr. KhachornsakdiVanaratseath

10 Mr. Nophorn Bhongsvej Independent Director & - - - Reappointed to another termChairman of the Audit Committee on March 30, 2005

11 Pol. Gen. Somchai Independent Director & - - - Reappointed to another termPrabhasabhakdi Audit Committee on March 30, 2005

12 Mr. Amorn Asvanunt Independent Director & 1,000,000 1,000,000 - Reappointed to another termAudit Committee on March 30, 2005

13 Mr. Surong Ongkosit Independent Director & - - - Reappointed to another termAudit Committee on March 30, 2005

20

¢Õ∫‡¢μÕ”π“®Àπâ“∑’Ë¢Õß§≥–°√√¡°“√1) Õπÿ¡—μ‘∏ÿ√°√√¡„π°‘®°√√¡°“√®—¥À“‡ß‘π ∫√‘À“√‡ß‘π ·≈–/À√◊Õ°“√∫√‘À“√ß“π

2) „Àâ§«“¡‡ÀÁπ™Õ∫√“¬ß“π∑“ß∫—≠™’∑’ËºŸâμ√«® Õ∫∫—≠™’·≈–°√√¡°“√μ√«® Õ∫‰¥âμ√«® Õ∫·≈–/À√◊Õ Õ∫∑“π·≈â«

3) ¥Ÿ·≈°“√ªØ‘∫—μ‘ß“π¢Õß∫√‘…—∑„Àâ‡ªìπ‰ªμ“¡°ÆÀ¡“¬ «—μ∂ÿª√– ß§å ·≈–¢âÕ∫—ß§—∫¢Õß∫√‘…—∑ μ≈Õ¥®π¡μ‘∑’Ëª√–™ÿ¡ºŸâ∂◊ÕÀÿâπ

4) °”°—∫¥Ÿ·≈°‘®°“√ ∑∫∑«π·≈–„Àâ§«“¡‡ÀÁπ™Õ∫°—∫π‚¬∫“¬ °≈¬ÿ∑∏å∑’Ë ”§—≠ ·ºπß“π·≈–ß∫ª√–¡“≥ª√–®”ªï

5) æ‘®“√≥“·≈–Õπÿ¡—μ‘°“√®—¥∑”π‘μ‘°√√¡ —≠≠“∑’ËºŸ°æ—π∫√‘…—∑

6) ·μàßμ—Èß°√√¡°“√μ√«® Õ∫ ·≈–°”Àπ¥¢Õ∫‡¢μÕ”π“®Àπâ“∑’Ë ·≈–§«“¡√—∫º‘¥™Õ∫¢Õß°√√¡°“√μ√«® Õ∫

¢Õ∫‡¢μÕ”π“®Àπâ“∑’Ë¢Õß§≥–°√√¡°“√μ√«® Õ∫1) Õ∫∑“π„Àâ∫√‘…—∑¡’°“√√“¬ß“π∑“ß°“√‡ß‘πÕ¬à“ß∂Ÿ°μâÕß·≈–‡ªî¥‡º¬Õ¬à“ß‡æ’¬ßæÕ

2) Õ∫∑“π„Àâ∫√‘…—∑¡’√–∫∫°“√§«∫§ÿ¡¿“¬„π (Internal Control) ·≈–°“√μ√«® Õ∫¿“¬„π (Internal Audit) ∑’Ë

‡À¡“– ¡·≈–¡’ª√– ‘∑∏‘º≈

3) Õ∫∑“π„Àâ∫√‘…—∑ªØ‘∫—μ‘μ“¡°ÆÀ¡“¬«à“¥â«¬À≈—°∑√—æ¬å·≈–μ≈“¥À≈—°∑√—æ¬å ¢âÕ°”Àπ¥¢Õßμ≈“¥À≈—°∑√—æ¬å À√◊Õ°ÆÀ¡“¬

∑’Ë‡°’Ë¬«¢âÕß°—∫∏ÿ√°‘®¢Õß∫√‘…—∑

4) æ‘®“√≥“ §—¥‡≈◊Õ° ‡ πÕ·μàßμ—Èß·≈–‡ πÕ§à“μÕ∫·∑πºŸâ Õ∫∫—≠™’¢Õß∫√‘…—∑

5) æ‘®“√≥“°“√Õπÿ¡—μ‘°“√∑”√“¬°“√√–À«à“ß°—π √«¡∑—Èß°“√‡ªî¥‡º¬¢âÕ¡Ÿ≈¢Õß∫√‘…—∑„π°√≥’∑’Ë‡°‘¥√“¬°“√∑’Ë‡°’Ë¬«‚¬ß°—π

À√◊Õ√“¬°“√∑’ËÕ“®¡’§«“¡¢—¥·¬âß∑“ßº≈ª√–‚¬™πå „Àâ¡’§«“¡∂Ÿ°μâÕß·≈–§√∫∂â«π

6) ®—¥∑”√“¬ß“π°“√°”°—∫¥Ÿ·≈°‘®°“√¢Õß§≥–°√√¡°“√μ√«® Õ∫‚¥¬‡ªî¥‡º¬‰«â„π√“¬ß“πª√–®”ªï¢Õß∫√‘…—∑ ́ ÷Ëß√“¬ß“π

¥—ß°≈à“«μâÕß≈ßπ“¡‚¥¬ª√–∏“π§≥–°√√¡°“√μ√«® Õ∫

7) ªØ‘∫—μ‘°“√Õ◊Ëπ„¥μ“¡∑’Ë§≥–°√√¡°“√¢Õß∫√‘…—∑¡Õ∫À¡“¬¥â«¬§«“¡‡ÀÁπ™Õ∫®“°§≥–°√√¡°“√μ√«® Õ∫

¢Õ∫‡¢μÕ”π“® Àπâ“∑’Ë¢Õß§≥–°√√¡°“√∫√‘À“√1. ‡ πÕπ‚¬∫“¬ ·ºπß“π ·≈–ß∫ª√–¡“≥ª√–®”ªïμàÕ§≥–°√√¡°“√∫√‘…—∑

2. æ‘®“√≥“‡√◊ËÕß∑’Ë®–‡ πÕ„Àâ§≥–°√√¡°“√∫√‘…—∑æ‘®“√≥“„Àâ§«“¡‡ÀÁπ™Õ∫À√◊ÕÕπÿ¡—μ‘μàÕ‰ª

3. æ‘®“√≥“Õπÿ¡—μ‘°“√®—¥À“·≈–≈ß∑ÿπ„π ‘π∑√—æ¬å∂“«√ „π«ß‡ß‘π·μà≈–§√—Èß‰¡à‡°‘π 30 ≈â“π∫“∑

4. æ‘®“√≥“Õπÿ¡—μ‘°“√®—¥∑”π‘μ‘°√√¡ —≠≠“„¥Ê ∑’ËºŸ°æ—π∫√‘…—∑„π«ß‡ß‘π·μà≈–§√—Èß‰¡à‡°‘π 30 ≈â“π∫“∑

5. æ‘®“√≥“Õπÿ¡—μ‘°“√≈ß∑ÿπ ¢“¬‡ß‘π≈ß∑ÿπ „πÀÿâπ “¡—≠·≈–À√◊ÕÀ≈—°∑√—æ¬åÕ◊Ëπ„¥∑’ËÕÕ°‚¥¬∫√‘…—∑ Õ◊Ëπ „π«ß‡ß‘π·μà≈–

§√—Èß‰¡à‡°‘π 30 ≈â“π∫“∑

6. ·μàßμ—Èß ‚¬°¬â“¬ ∂Õ¥∂Õπ æ‘®“√≥“§«“¡¥’§«“¡™Õ∫μ≈Õ¥®π°”Àπ¥§à“μÕ∫·∑π·≈– «— ¥‘°“√·°àæπ—°ß“π

7. ÕÕ°√–‡∫’¬∫«à“¥â«¬°“√ªØ‘∫—μ‘ß“π ·≈– “¡“√∂¡Õ∫Õ”π“®„π°“√Õπÿ¡—μ‘‡∫‘°®à“¬∑√—æ¬å ‘π¢Õß∫√‘…—∑ „Àâ·°àæπ—°ß“πºŸâ

¥”√ßμ”·Àπàß∑“ß°“√∫√‘À“√√—∫‰ªªØ‘∫—μ‘‰¥â

8. °”°—∫¥Ÿ·≈°“√¥”‡π‘πß“π¢Õß∫√‘…—∑ „Àâ‡ªìπ‰ª‚¥¬‰¡à¢—¥μàÕ°ÆÀ¡“¬ √–‡∫’¬∫ ¢âÕ∫—ß§—∫¢Õß∑“ß√“™°“√ ¢âÕ∫—ß§—∫¢Õß

∫√‘…—∑ ·≈–»’≈∏√√¡Õ—π¥’ß“¡

9. °”°—∫¥Ÿ·≈„Àâ¡’°“√®—¥∑”√“¬ß“π∑“ß°“√‡ß‘π „ÀâºŸâ Õ∫∫—≠™’∑”°“√μ√«® Õ∫À√◊Õ Õ∫∑“π·≈–‡ πÕμàÕ§≥–°√√¡°“√

μ√«® Õ∫·≈–§≥–°√√¡°“√∫√‘…—∑ μ“¡≈”¥—∫

10. °√√¡°“√∫√‘À“√Õ“®·∫àßß“π°—π√—∫º‘¥™Õ∫‰¥â ‚¥¬μâÕß√“¬ß“π§«“¡‡ªìπ‰ª¢Õß°‘®°“√∑’Ëμπ°”°—∫¥Ÿ·≈ μàÕ∑’Ëª√–™ÿ¡

§≥–°√√¡°“√∫√‘À“√„Àâ∑√“∫ °“√ª√–™ÿ¡§≥–°√√¡°“√∫√‘À“√μâÕß®—¥„Àâ¡’¢÷ÈπÕ¬à“ßπâÕ¬ 1 §√—Èß„π√Õ∫ 3 ‡¥◊Õπ

πÕ°®“°π’È §≥–°√√¡°“√∫√‘À“√‰¥â®—¥μ—Èß§≥–Õπÿ°√√¡°“√™ÿ¥μà“ßÊ ‡æ◊ËÕ„Àâæπ—°ß“π¡’ à«π√à«¡„π°“√®—¥°“√‡√◊ËÕßμà“ßÊ

¿“¬„π∫√‘…—∑„Àâ¡’§«“¡∂Ÿ°μâÕß‡À¡“– ¡ ¡’ª√– ‘∑∏‘¿“æ·≈–ª√– ‘∑∏‘º≈μàÕ∫√‘…—∑ ‚¥¬¡’§≥–°√√¡°“√∫√‘À“√‡ªìπ∑’Ëª√÷°…“

®”π«π 1 ∑à“π„π·μà≈–§≥– ´÷Ëßª√–°Õ∫¥â«¬

21

Authorities and Responsibilities of the Board of Directors1) To approve income generating activities, financial management and/or company management2) To certify financial report examined and reviewed by the audit committees3) To oversee the companyûs operation to fully comply with all relevant laws and to correspond to the

companyûs objectives and regulations and resolutions of the shareholdersû meetings4) To conduct of good corporate governance, review and approve the companyûs policy, significant

strategies, business plans as well as annual budget5) To consider and approve contracts obligating the company6) To appoint the audit committees and establish the scope of the audit committeeûs authorities and

responsibilities

Authorities and Responsibilities of Audit Committee1) To verify the companyûs financial report to be true, accurate, transparent and complete enough for

disclosure2) To ensure that the company has a suitable and effective internal control system and an internal audit3) To review the companyûs performance to ensure it is compliant with the Securities and Exchange Act,

regulations of The Stock Exchange of Thailand and any laws regarding the company business4) To consider, select, and propose certified auditors as well as the remuneration of the auditors5) To consider and approve any inter-business transactions, including disclosure of accurate and complete

information in case that there are inter-business transactions or conflicts of interests6) To prepare and report on the corporate governance conducted by the audit committees in the companyûs

annual report. That report is signed by the chairman of the audit committees7) To perform any activities assigned by the Board of Directors and as agreed by the audit committee

Authorities and Responsibilities of Executive Committee1. Being responsibility for proposing company policies, plan, and annual budget to the Board of Directors.2. To consider matters proposed to the Board of Directors for consideration and approval.3. To consider and approve any procurement and fixed asset investment not more than 30 million Baht/item.4. To consider and approve on legally agreement/contracts binding the Company in the amount of not over

30 million Baht/item.5. To consider and approve any investments, selling common stocks and/or any securities issued by other

companies in the limit amount of 30 million Baht.6. To appoint, remove, transfer, or appraise employees as well as deciding on the remuneration and fringe

benefits for them.7. To establish working regulations and authorize the disbursement of the company assets to an executive

employee for further appropriate application.8. To supervise the companyûs operations in order to comply with the laws, government regulations, good

public morals as well as the company regulations.9. To prepare of the financial statements and financial reports for verification by the company auditor and

proposal to the Audit Committee and the Board of Directors respectively.10. Executive Committee may allocate the authority and duty among themselves, and in such case, each

required to report the progress and results of their responsible area to the Executive Committeeûs meetingfor acknowledgement. Such Executive Committeeûs meeting is required to be held at least once a quarter.

Moreover, the Executive Committee has established some committee teams in order to have employeesjointly organize the internal management appropriately, efficiently, and effectively to the company. Eachcommittee has at least one Executive Director to be a consultant. The established committees at present arecomprised of:

22

1. §≥–°√√¡°“√§«“¡ª≈Õ¥¿—¬ Õ“™’«–Õπ“¡—¬ ·≈– ¿“æ·«¥≈âÕ¡„π°“√∑”ß“π2. §≥–°√√¡°“√ª√—∫ª√ÿßª√– ‘∑∏‘¿“æ°“√º≈‘μ ·≈–Õπÿ√—°…åæ≈—ßß“π3. §≥–∑”ß“π‚§√ß°“√‚√ßß“π ’¢“«4. §≥–°√√¡°“√√–¥—∫π‚¬∫“¬°“√®—¥°“√ ‘Ëß·«¥≈âÕ¡5. §≥–°√√¡°“√√–¥—∫π‚¬∫“¬°“√∫√‘À“√§ÿ≥¿“æ

°“√ √√À“°√√¡°“√·≈–ºŸâ∫√‘À“√∫√‘…—∑‰¡à¡’§≥–°√√¡°“√ √√À“ §≥–°√√¡°“√‡ªìπºŸâ§—¥‡≈◊Õ°°√√¡°“√®“°ºŸâ∑√ß§ÿ≥«ÿ≤‘ ∑’Ë¡’§«“¡√Ÿâ §«“¡ “¡“√∂®“°À≈“¬

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∑—Èßπ’È‡ß◊ËÕπ‰¢°“√ √√À“·≈–·μàßμ—Èß°√√¡°“√∫√‘…—∑μ“¡∑’Ë°”Àπ¥‰«â„π¢âÕ∫—ß§—∫¢Õß∫√‘…—∑ “¡“√∂ √ÿª “√– ”§—≠‰¥â¥—ßπ’È1) §≥–°√√¡°“√¢Õß∫√‘…—∑ª√–°Õ∫¥â«¬°√√¡°“√Õ¬à“ßπâÕ¬ 5 §π ‚¥¬∑’Ë°√√¡°“√‰¡àπâÕ¬°«à“°÷ËßÀπ÷Ëß¢Õß®”π«π°√√¡°“√

∑—ÈßÀ¡¥μâÕß¡’∂‘Ëπ∑’ËÕ¬Ÿà„π√“™Õ“≥“®—°√ ·≈–°√√¡°“√¢Õß∫√‘…—∑®–μâÕß‡ªìπºŸâ¡’§ÿ≥ ¡∫—μ‘μ“¡∑’Ë°ÆÀ¡“¬°”Àπ¥2) „Àâ∑’Ëª√–™ÿ¡ºŸâ∂◊ÕÀÿâπ‡≈◊Õ°μ—Èß°√√¡°“√μ“¡À≈—°‡°≥±å«‘∏’°“√¥—ßμàÕ‰ªπ’È

(°) ºŸâ∂◊ÕÀÿâπÀπ÷Ëß§π¡’§–·ππ‡ ’¬ß‡∑à“°—∫Àπ÷ËßÀÿâπμàÕÀπ÷Ëß‡ ’¬ß(¢) ºŸâ∂◊ÕÀÿâπ·μà≈–§π®–μâÕß„™â§–·ππ‡ ’¬ß∑’Ë¡’Õ¬Ÿà∑—ÈßÀ¡¥μ“¡¢âÕ (°) ‡≈◊Õ°μ—Èß∫ÿ§§≈§π‡¥’¬«À√◊ÕÀ≈“¬§π‡ªìπ

°√√¡°“√°Á‰¥â ·μà®–·∫àß§–·ππ‡ ’¬ß„Àâ·°àºŸâ„¥¡“°πâÕ¬‡æ’¬ß„¥‰¡à‰¥â(§) ∫ÿ§§≈´÷Ëß‰¥â√—∫§–·ππ‡ ’¬ß Ÿß ÿ¥μ“¡≈”¥—∫≈ß¡“ ‡ªìπºŸâ ‰¥â√—∫°“√‡≈◊Õ°μ—Èß‡ªìπ°√√¡°“√‡∑à“®”π«π°√√¡°“√∑’Ë∑’Ë

ª√–™ÿ¡ºŸâ∂◊ÕÀÿâπμâÕß‡≈◊Õ°μ—Èß„π§√—Èßπ—Èπ „π°√≥’∑’Ë∫ÿ§§≈ ÷́Ëß‰¥â√—∫°“√‡≈◊Õ°μ—Èß„π≈”¥—∫∂—¥≈ß¡“¡’§–·ππ‡ ’¬ß‡∑à“°—π‡°‘π®”π«π°√√¡°“√∑’Ë∑’Ëª√–™ÿ¡ºŸâ∂◊ÕÀÿâπμâÕß‡≈◊Õ°μ—Èß„π§√—Èßπ—Èπ „ÀâºŸâ‡ªìπª√–∏“π‡ªìπºŸâÕÕ°‡ ’¬ß™’È¢“¥

3) „π°“√ª√–™ÿ¡ “¡—≠ºŸâ∂◊ÕÀÿâπª√–®”ªï∑ÿ°§√—Èß „Àâ°√√¡°“√ÕÕ°®“°μ”·Àπàß 1 „π 3 ∂â“®”π«π°√√¡°“√∑’Ë®–·∫àßÕÕ°„Àâμ√ß‡ªìπ “¡ à«π‰¡à‰¥â °Á„ÀâÕÕ°‚¥¬®”π«π„°≈â∑’Ë ÿ¥°—∫ à«π 1 „π 3

4) °√≥’∑’Ëμ”·Àπàß°√√¡°“√«à“ß≈ß‡æ√“–‡ÀμÿÕ◊ËππÕ°‡Àπ◊Õ®“°∂÷ß§√“«ÕÕ°μ“¡«“√– „Àâ§≥–°√√¡°“√‡≈◊Õ°∫ÿ§§≈´÷Ëß¡’§ÿ≥ ¡∫—μ‘·≈–‰¡à¡’≈—°…≥–μâÕßÀâ“¡μ“¡°ÆÀ¡“¬‡¢â“‡ªìπ°√√¡°“√·∑π„π°“√ª√–™ÿ¡§≥–°√√¡°“√§√“«∂—¥‰ª ‚¥¬¡μ‘°√√¡°“√μâÕßª√–°Õ∫¥â«¬§–·ππ‡ ’¬ß‰¡àπâÕ¬°«à“ 3 „π 4 ¢Õß®”π«π°√√¡°“√∑’Ë¬—ß‡À≈◊ÕÕ¬Ÿà

§à“μÕ∫·∑πºŸâ∫√‘À“√ë §à“μÕ∫·∑π∑’Ë‡ªìπμ—«‡ß‘π

§à“μÕ∫·∑π‡ª√’¬∫‡∑’¬∫‚¥¬ √ÿª ”À√—∫°√√¡°“√·≈–ºŸâ∫√‘À“√¢Õß∫√‘…—∑„πªï 2549 ·≈–ªï 2550 ¥—ßπ’È ”À√—∫√“¬≈–‡Õ’¬¥√“¬∫ÿ§§≈¡’°“√‡ªî¥‡º¬¢âÕ¡Ÿ≈ „π¢âÕ 9.3 §à“μÕ∫·∑πºŸâ∫√‘À“√ „π·∫∫ 56-1

(Àπà«¬: ∫“∑)

§≥–°√√¡°“√ ªï 2550 ªï 2549 √“¬≈–‡Õ’¬¥¢Õß§à“μÕ∫·∑π

®”π«π√“¬ ®”π«π‡ß‘π ®”π«π√“¬ ®”π«π‡ß‘π

°√√¡°“√ 13 7,850,000 13 6,780,000 ‡∫’È¬ª√–™ÿ¡ ∫”‡ÀπÁ®°√√¡°“√

ºŸâ∫√‘À“√ 11 17,272,085 8 13,110,600 ‡ß‘π‡¥◊Õπ ‚∫π— «— ¥‘°“√

ë §à“μÕ∫·∑πÕ◊Ëπ∫√‘…—∑‰¥â®—¥ «— ¥‘°“√·≈–§à“μÕ∫·∑πÕ◊ËπÊ πÕ°‡Àπ◊Õ®“°‡ß‘π‡¥◊Õπ ‚∫π— „Àâ°—∫ºŸâ∫√‘À“√·≈–æπ—°ß“π μ“¡§«“¡‡À¡“– ¡°—∫ ¿“«–‡»√…∞°‘® ‡™àπ °Õß∑ÿπ ”√Õß‡≈’È¬ß™’æ ´÷ËßºŸâ∫√‘À“√·≈–æπ—°ß“π “¡“√∂ ¡—§√‡ªìπ ¡“™‘°°Õß∑ÿπ ”√Õß‡≈’È¬ß™’æ ‚¥¬®–‰¥â√—∫‡ß‘π ¡∑∫∑’Ë∫√‘…—∑®à“¬‡ß‘π ¡∑∫‡¢â“°Õß∑ÿπ„Àâ·°à ¡“™‘°·μà≈–√“¬„πÕ—μ√“√âÕ¬≈– 3 ¢Õß§à“®â“ß ·≈–æπ—°ß“π∑’Ë‡ªìπ ¡“™‘°°Õß∑ÿπ®–‰¥â√—∫‡ß‘π – ¡§◊π‡¡◊ËÕæâπ ¿“æ®“°°“√‡ªìπæπ—°ß“π¢Õß∫√‘…—∑·≈â« ·≈–®–μâÕß≈“ÕÕ°®“°°“√‡ªìπ ¡“™‘°°Õß∑ÿπ à«π‡ß‘π ¡∑∫∑’Ë∫√‘…—∑ ¡∑∫„Àâ æπ—°ß“π®–‰¥â√—∫„πÕ—μ√“μ“¡∑’Ë∫√‘…—∑°”Àπ¥

23

1. The Committee of Safety, Sanitation and Working Environment2. The Committee of Product Efficiency and Energy Conservation3. The Committee of White Factory4. The Environmental Management Committee5. The Quality Management Committee

Selection of Directors and ExecutivesThe experience, knowledge, capabilities and qualifications according to the law are the prime

considerations for the selection of directors. The directors will be voted in the shareholdersû meeting whileexecutives will be appointed according to the skills and knowledge which are essential and useful to thecompanyûs business such as in the engineering, accounting and financial professions.

The companyûs regulations for the selection and appointment of directors can be summarized as follows;1) The Board of Directors must consist of at least five directors. Not less than half of the directors have to

be resident in the Kingdom of Thailand. All directors must have all qualifications required by law.2) The directors are voted by the shareholders in the shareholdersû meeting with the following criteria;

(a) each shareholder has one vote for one share held.(b) each shareholder must use all of his votes as mentioned in (a) for one nominated candidate or

several nominated candidates to be a director/directors but the number of votes cannot be dividedfor any candidate/group.

(c) The election is on a majority basis. The candidates will be ranked in descending order.(d) Directors will be appointed in the order until the positions required are filled. In the case of equal

votes, the chairman of the meeting will have the casting vote.3) In each annual general shareholdersû meeting, one-third of the directors will resign. If the number of the

directors cannot be evenly divided by three, the closest number to one-third will be the number of thosewho will resign.

4) In the case of a vacancy, The Board of Directors can select any qualified person who does not have anyqualifications prohibited by the law to be a director (s) on the next meeting. The selected person (s)should be voted in by not less than three-fourth of the all the Board of Directors remaining.

Executivesû Remunerationë Money Remuneration

The table below is conclusively compared the remuneration for the Directors and Executives of thecompany in 2006 and 2007. The further information of personally remuneration is disclosed in Section9.3 Executivesû Remuneration on the annual statements (Form 56-1).

(unit: Baht)

Board of Directors 2008 2007 Form of Remuneration

Total Amount (Baht) Total Amount (Baht)

Directors 13 7,850,000 13 6,780,000 Meeting fees and remuneration

Executives 11 17,272,085 8 13,110,600 Salary, bonus, and other benefits

ë Other remunerationsThe company has welfare and other forms of compensation apart from salary and bonus contributionto the management and all employees. Theses reflect domestic economic conditions such as theprovident fund. Each members of the provident fund will receive a contribution portion at a rate of 3%of their salary. In case of any member resigns from the company, the respective membership will beautomatically terminated. The contribution portion will be paid according to the conditions of the fund.

24

∫√‘…—∑‰¥â¡’°“√≈ß∑ÿπ„π∫√‘…—∑ À‚§‡®π °√’π ®”°—¥ ‚¥¬¡’√“¬≈–‡Õ’¬¥ ¥—ßμàÕ‰ªπ’È

‡ß‘π≈ß∑ÿπ∫√‘…—∑Õ◊Ëπ ∑’Ë∫√‘…—∑œ ∂◊ÕÀÿâπμ—Èß·μà√âÕ¬≈– 10 ¢÷Èπ‰ª

™◊ËÕ∫√‘…—∑/∑’Ëμ—Èß ª√–‡¿∑∏ÿ√°‘® ª√–‡¿∑Àÿâπ ®”π«πÀÿâπ ®”π«πÀÿâπ∑’Ë∂◊Õ ®”π«πÀÿâπ∑’Ë∂◊Õ —¥ à«π (%)

∑’ËÕÕ°®”Àπà“¬ (®”π«πÀÿâπ) (®”π«π‡ß‘π∫“∑) °“√∂◊ÕÀÿâπ

∫®. À‚§‡®π °√’π * º≈‘μ‰ÕπÈ”·≈– “¡—≠ 25,000,000 24,999,993 249,999,930 99.99

°√–· ‰øøÑ“

À¡“¬‡Àμÿ : * ‰¥â¡’°“√‡ª≈’Ë¬π™◊ËÕ®“° ∫®. À‚§‡®π °∫‘π∑√å∫ÿ√’ ‡ªìπ ∫®. À‚§‡®π °√’π „π«—π∑’Ë 31 μÿ≈“§¡ 2550

√“¬≈–‡Õ’¬¥‡°’Ë¬«°—∫°√√¡°“√∫√‘…—∑ À‚§‡®π °√’π ®”°—¥ (∫√‘…—∑¬àÕ¬)

1. π“¬∫ÿ≠‡°’¬√μ‘ ‚™§«—≤π“ ª√–∏“π°√√¡°“√

2. π“¬∏’√–»—°¥‘Ï «‘°‘μ‡»√…∞å °√√¡°“√

3. π“¬Õ—μ∂°√ °≈—Ëπ§«“¡¥’ °√√¡°“√

4. π“¬«‘‚√®πå ∏’√«—≤πå«“∑’ °√√¡°“√

5. π“¬∑πß »√’®‘μ√å °√√¡°“√

6. π“ßæ√√≥’ ©—π∑«√≈—°…≥å °√√¡°“√

—¥ à«π°“√∂◊ÕÀÿâπ„π∫√‘…—∑¬àÕ¬

25

The company has invested in Sahacogen Green Company Limited, which is detailed as follows:-

The investment in other companies that the company has held more then 10% of share.

Name/Location Type of Business Type of Shares No. of Total No. of shares No. of shares Proportion (%)

Paid-up Shares held (Shares) held (Amount Baht) of shares holding

Sahacogen Green Biomass Fired Common Stock 25,000,000 24,999,993 249,999,930 99.99

Co., Ltd.* Power Plant

Note : * The name was changed from Sahacogen Kabinburi Co., Ltd. to Sahacogen Green Co., Ltd. on October 31, 2007.

The information of the Board of Directors for Sahacogen Green Company Limited (the companyûs

subsidiary):

1. Mr. Boonkiet Chokwatana Chairman

2. Mr. Thirasak Vikitset Director

3. Mr. Atthakorn Glankwamdee Director

4. Mr. Viroj Theeravatvatee Director

5. Mr. Tanong Srichit Director

6. Mrs. Pannee Chantavoraluk Director

Shareholding in Subsidiaries

26

√“¬°“√√–À«à“ß°—π

®“°√“¬ß“π¢ÕßºŸâ Õ∫∫—≠™’„πÀ¡“¬‡Àμÿª√–°Õ∫ß∫°“√‡ß‘π ¢âÕ 6 ¡’√“¬≈–‡Õ’¬¥‡æ‘Ë¡‡μ‘¡„π à«π¢Õß‡√◊ËÕß√“¬°“√

∏ÿ√°‘®∑’Ë‡°’Ë¬«¢âÕß°—π

(Àπà«¬: ∫“∑)

∫ÿ§§≈∑’ËÕ“®¡’§«“¡¢—¥·¬âß°—π ≈—°…≥–§«“¡ —¡æ—π∏å ºŸâ∂◊ÕÀÿâπ∑’Ë¡’ ≈—°…≥– ªï 2550

Õ”π“®§«∫§ÿ¡ √“¬°“√

1 ∫¡®. Àæ—≤π“ Õ‘π‡μÕ√å‚Œ≈¥‘Èß ‡ªìπºŸâ∂◊ÕÀÿâπ·≈– ✓ ≈Ÿ°Àπ’È°“√§â“ 96,059,933

ºŸâ∫√‘À“√√à«¡°—π ‡®â“Àπ’È°“√§â“ 218,606

¢“¬ ‘π§â“ 1,159,735,662

§à“„™â®à“¬ 7,949,292

§à“‡™à“∑’Ë¥‘π 2,684,349

2 ∫¡®. ‡Õ ·Õπ¥å ‡® ‡ªìπºŸâ∂◊ÕÀÿâπ·≈– ✓ -

Õ‘π‡μÕ√å‡π™—Ëπ·π≈ ‡Õπ‡μÕ√å‰æ√ å ºŸâ∫√‘À“√√à«¡°—π

3 ∫¡®. ‰Õ.´’. ’́ Õ‘π‡μÕ√å‡π™—Ëπ·π≈ ‡ªìπºŸâ∂◊ÕÀÿâπ·≈– ✓ -

ºŸâ∫√‘À“√√à«¡°—π

4 ∫¡®. Àæ—≤πæ‘∫Ÿ≈ ‡ªìπºŸâ∂◊ÕÀÿâπ·≈– ✓ -

ºŸâ∫√‘À“√√à«¡°—π

5 ∫¡®. ª√–™“Õ“¿√≥å ‡ªìπºŸâ∂◊ÕÀÿâπ·≈– -

ºŸâ∫√‘À“√√à«¡°—π

6 ∫¡®. ‡∑Á°´å‰∑≈å‡æ√ ∑’® ‡ªìπºŸâ∂◊ÕÀÿâπ·≈– -

ºŸâ∫√‘À“√√à«¡°—π

7 ∫¡®. ∏πŸ≈—°…≥å ‡ªìπºŸâ∂◊ÕÀÿâπ·≈– -

ºŸâ∫√‘À“√√à«¡°—π

8 ∫¡®. ‰∑¬«“‚°â ‡ªìπºŸâ∂◊ÕÀÿâπ·≈– -

ºŸâ∫√‘À“√√à«¡°—π

9 ∫®. Õ‘π‡μÕ√å‡π™—Ëπ·π≈ ‡ªìπºŸâ∂◊ÕÀÿâπ·≈– -

·≈∫∫Õ√“∑Õ√’ å ºŸâ∫√‘À“√√à«¡°—π

10 ∫®. ·™¡ªá‡Õ™ ‡ªìπºŸâ∂◊ÕÀÿâπ·≈– -

ºŸâ∫√‘À“√√à«¡°—π

11 ∫®. ÕÕªÕ‡√™—ËππÕ≈ ¡’ºŸâ∂◊ÕÀÿâπ·≈– ‡®â“Àπ’È°“√§â“ 30,408,076

‡ÕÁπ‡πÕ√å¬’Ë °√ÿäª ºŸâ∫√‘À“√√à«¡°—π §à“„™â®à“¬ 115,308,369

12 ∫®. ‘π¿√“¥√ ‡ªìπºŸâ∂◊ÕÀÿâπ·≈– ✓ §à“‡™à“∑’Ë¥‘π 1,728,000

ºŸâ∫√‘À“√√à«¡°—π

13 ∫®. æ‘∑—°…å°‘® ¡’ºŸâ∫√‘À“√√à«¡°—π ‡®â“Àπ’È°“√§â“ 3,473,081

§à“∫√‘°“√ 17,289,021

14 ∫®. À‚§‡®π °√’π ∫√‘…—∑¬àÕ¬ ✓ ¢“¬∑√—æ¬å ‘π 1,733,350

27

Transaction with Related Companies

From the auditorûs note to financial statements no. 6, the related transactions are as follow:

(Unit : Baht)

Parties of Mutual Interestes Relationship Controlling Subject Year 2007

Shareholder

1 Saha Pattana Inter-Holding PCL Shareholder and ✓ Account Receivable 96,059,933

common directors Account Payable 218,606

Sale 1,159,735,662

Expenses 7,949,292

Land rental expense 2,684,349

2 S&J International Shareholder and ✓ -

Enterprises PCL common directors

3 I.C.C. International PCL Shareholder and ✓ -

common directors

4 Saha Pathanapibul PCL Shareholder and ✓ -

common directors

5 Peopleûs Garment PCL Shareholder and -

common directors

6 Textile Prestige PCL Shareholder and -

common directors

7 Thanulux PCL Shareholder and -

common directors

8 Thai Wacoal PCL Shareholder and -

common directors

9 International Laboratories Corp. Shareholder and -

common directors

10 Champ Ace Co., Ltd. Shareholder and -

common directors

11 Operational Energy Common shareholder Account Payable 30,408,076

Group Co.,Ltd. and directors Expenses 115,308,369

12 Sinparadorn Ltd. Shareholder and ✓ Land rental expense 1,728,000

common directors

13 Pitakkij Co., Ltd. common directors Account Payable 3,473,081

Service Charges 17,289,021

14 Sahacogen Green Co.,Ltd. Subsidiary ✓ Sale of Assets 1,733,350

28

§«“¡ ¡‡Àμÿ ¡º≈¢Õß°“√∑”√“¬°“√√–À«à“ß°—π

√“¬°“√√–À«à“ß°—π„πªï∑’Ëºà“π¡“∑—ÈßÀ¡¥‡ªìπ‰ª‡æ◊ËÕ°“√¥”‡π‘π∏ÿ√°‘®μ“¡ª°μ‘¢Õß∫√‘…—∑ ‚¥¬¡’π‚¬∫“¬„π°“√∑”

√“¬°“√¥—ß°≈à“«‡æ◊ËÕª√–‚¬™πå Ÿß ÿ¥¢Õß∫√‘…—∑ ∑—Èß¥â“ππ‚¬∫“¬°“√°”Àπ¥√“§“‚¥¬®–æ‘®“√≥“®“°√“§“μ≈“¥‡ªìπ ”§—≠

√“¬°“√√–À«à“ß°—π„πªï∑’Ëºà“π¡“‡°‘¥®“° —≠≠“μà“ßÊ ´÷Ëß¡’≈—°…≥–¢Õß√“¬°“√‚¥¬ √ÿª¥—ßπ’È

1. √“¬°“√√–À«à“ß∫√‘…—∑°—∫∫√‘…—∑ Àæ—≤π“Õ‘π‡μÕ√å‚Œ≈¥‘Èß ®”°—¥ (¡À“™π)≈—°…≥–¢Õß√“¬°“√·≈– —≠≠“ : —≠≠“¢“¬‰øøÑ“·≈–‰ÕπÈ”

‡π◊ËÕß®“°‡ß◊ËÕπ‰¢ —≠≠“‡ß‘π°Ÿâ°”Àπ¥„Àâ¡’°“√‚Õπ ‘∑∏‘„π —≠≠“ ◊́ÈÕ¢“¬‰øøÑ“·≈–‰ÕπÈ”„Àâ°—∫ºŸâ„Àâ°Ÿâ ¡’§«“¡¬ÿàß¬“°„π°“√

¥”‡π‘π°“√∑” —≠≠“ ◊́ÈÕ¢“¬·≈– —≠≠“‚Õπ ‘∑∏‘°—∫‚√ßß“πÕÿμ “À°√√¡μà“ßÊ ́ ÷Ëß¡’®”π«π¡“° Õ’°∑—Èß —¡ª∑“πª√–°Õ∫

°‘®°“√‰øøÑ“∑’Ë∫√‘…—∑‰¥â√—∫§√Õ∫§≈ÿ¡‡©æ“–æ◊Èπ∑’Ëμ—Èß¢Õß∫√‘…—∑ Àæ—≤π“Õ‘π‡μÕ√å‚Œ≈¥‘Èß ®”°—¥ (¡À“™π) ‡∑à“π—Èπ

¡‘‰¥â§√Õ∫§≈ÿ¡æ◊Èπ∑’Ë¢Õß «πÕÿμ “À°√√¡‡§√◊Õ Àæ—≤πå-»√’√“™“∑—ÈßÀ¡¥ ·≈–∫√‘…—∑μâÕßÕ“»—¬√–∫∫ “¬ àß‰øøÑ“

´÷Ëß‡ªìπ∑√—æ¬å ‘π¢Õß ∫√‘…—∑ Àæ—≤π“Õ‘π‡μÕ√å‚Œ≈¥‘Èß ®”°—¥ (¡À“™π) ∫√‘…—∑®÷ß∑” —≠≠“ ◊́ÈÕ¢“¬‰øøÑ“·≈–‰ÕπÈ”°—∫

∫√‘…—∑ Àæ—≤π“Õ‘π‡μÕ√å‚Œ≈¥‘Èß ®”°—¥ (¡À“™π) ·μà‡æ’¬ß√“¬‡¥’¬« ‚¥¬®à“¬º≈μÕ∫·∑π„Àâ°—∫∫√‘…—∑ Àæ—≤π“Õ‘π

‡μÕ√å‚Œ≈¥‘Èß ®”°—¥ (¡À“™π) „π√Ÿª·∫∫¢ÕßÕ—μ√“ à«π≈¥§à“æ≈—ßß“π‰øøÑ“ ( à«π≈¥√âÕ¬≈– 0.5 „πªï∑’Ë 1-10

·≈– à«π≈¥√âÕ¬≈– 1.5 „πªï∑’Ë 11-15) ·≈– à«π≈¥§à“‰ÕπÈ” („πÕ—μ√“ 0.5% μ≈Õ¥Õ“¬ÿ —≠≠“) °“√ ◊́ÈÕπÈ”¥‘∫®“°

∫√‘…—∑ Àæ—≤π“Õ‘π‡μÕ√å‚Œ≈¥‘Èß ®”°—¥ (¡À“™π) ‡ªìπ à«πÀπ÷Ëß¢Õß°“√∫√‘À“√®—¥°“√§«“¡‡ ’Ë¬ß „Àâ¡’·À≈àßπÈ”¥‘∫

”√Õß„™â„π°‘®°“√º≈‘μ‰øøÑ“‰¥â „π°√≥’∑’Ë ∫¡®. ®—¥°“√·≈–æ—≤π“∑√—æ¬“°√πÈ”¿“§μ–«—πÕÕ° ‰¡à “¡“√∂®—¥À“πÈ”¥‘∫

„Àâ·°à∫√‘…—∑ ´÷Ëß√“§“πÈ”¥‘∫√«¡∂÷ß§à“∫√‘°“√„π°“√∫”∫—¥πÈ”‡ ’¬∑’Ë ∫√‘…—∑ Àæ—≤π“Õ‘π‡μÕ√å‚Œ≈¥‘Èß ®”°—¥ (¡À“™π)

‡√’¬°‡°Á∫°—∫∫√‘…—∑®–‡ªìπ√“§“¡“μ√∞“π∑’Ë‡√’¬°‡°Á∫°—∫‚√ßß“πÕÿμ “À°√√¡Õ◊Ëπ∑’Ëμ—ÈßÕ¬Ÿà„π «πÕÿμ “À°√√¡‡§√◊Õ

Àæ—≤πå-»√’√“™“ ¥—ßπ—Èπ®–‡ÀÁπ‰¥â«à“√“¬°“√√–À«à“ß∫√‘…—∑·≈–∫√‘…—∑ Àæ—≤π“Õ‘π‡μÕ√å‚Œ≈¥‘Èß ®”°—¥ (¡À“™π)

π—Èπ‡ªìπ°“√§â“ª°μ‘·≈–¡’§«“¡ ¡‡Àμÿ ¡º≈‡æ◊ËÕª√–‚¬™πå Ÿß ÿ¥¢Õß∫√‘…—∑ Õ’°∑—Èß√“§“∑’Ë§‘¥√–À«à“ß°—π∂◊Õ‰¥â«à“‡ªìπ

√“§“∑’Ë¬ÿμ‘∏√√¡

2. √“¬°“√√–À«à“ß∫√‘…—∑°—∫∫√‘…—∑ ÕÕªÕ‡√™—ËππÕ≈ ‡ÕÁπ‡πÕ√å¬’Ë °√ÿäª ®”°—¥≈—°…≥–¢Õß√“¬°“√·≈– —≠≠“ : —≠≠“√—∫∫√‘°“√¥â“π°“√®—¥°“√‡°’Ë¬«°—∫°“√¥”‡π‘πß“π·≈– à́Õ¡∫”√ÿß ·≈–

—≠≠“‡™à“‡§√◊ËÕß®—°√

∫√‘…—∑‰¥â«à“®â“ß„Àâ ∫√‘…—∑ÕÕªÕ‡√™—ËππÕ≈ ‡ÕÁπ‡πÕ√å¬’Ë °√ÿäª ®”°—¥ ¥”‡π‘π°“√‡¥‘π‡§√◊ËÕß·≈–∫”√ÿß√—°…“‚√ß‰øøÑ“¿“¬„μâ

—≠≠“°“√ªØ‘∫—μ‘°“√‡¥‘π‡§√◊ËÕß·≈–∫”√ÿß√—°…“‚√ß‰øøÑ“ (Operational and Maintenance Agreement) ‚¥¬§à“μÕ∫·∑π

‡ªìπÕ—μ√“‡¥’¬«°—∫∑’Ë ∫√‘…—∑ ÕÕªÕ‡√™—ËππÕ≈ ‡ÕÁπ‡πÕ√å¬’Ë °√ÿäª ®”°—¥ §‘¥°—∫≈Ÿ°§â“∑—Ë«‰ª Õ’°∑—Èß ∫¡®. ‡Õ ·Õπ¥å‡®

Õ‘π‡μÕ√å‡π™—Ëπ·π≈ ‡ÕÁπ‡μÕ√å‰æ√ å ´÷Ëß‡ªìπºŸâ∂◊ÕÀÿâπ¢Õß∑—Èß∫√‘…—∑·≈–∫√‘…—∑ ÕÕªÕ‡√™—ËππÕ≈ ‡ÕÁπ‡πÕ√å¬’Ë °√ÿäª ®”°—¥

®÷ß∑”„Àâ “¡“√∂¥Ÿ·≈·≈–§«∫§ÿ¡°“√¥”‡π‘πß“π¢Õß∫√‘…—∑ ÕÕªÕ‡√™—ËππÕ≈ ‡ÕÁπ‡πÕ√å¬’Ë °√ÿäª ®”°—¥ ‰¥â √“¬°“√√–À«à“ß°—π

π’È®÷ß‡ªìπ°“√§â“ª°μ‘·≈–¡’§«“¡ ¡‡Àμÿ ¡º≈ „π à«π¢Õß —≠≠“°“√‡™à“‡§√◊ËÕß¬πμå ”√Õß°—∫∫√‘…—∑ ÕÕªÕ‡√™—ËππÕ≈

‡ÕÁπ‡πÕ√å¬’Ë °√ÿäª ®”°—¥ ‡ªìπ°“√æ‘®“√≥“§—¥‡≈◊Õ°‡ß◊ËÕπ‰¢∑’Ë„Àâª√–‚¬™πåμàÕ∫√‘…—∑ ÿß ÿ¥‡¡◊ËÕ‡ª√’¬∫‡∑’¬∫°—∫‡ß◊ËÕπ‰¢

°“√‡™à“¢ÕßºŸâ‡ πÕ√“¬Õ◊Ëπ

3. √“¬°“√√–À«à“ß∫√‘…—∑°—∫∫√‘…—∑ ‘π¿√“¥√ ®”°—¥≈—°…≥–¢Õß√“¬°“√·≈– —≠≠“ : —≠≠“‡™à“∑’Ë¥‘π

∫√‘…—∑‰¥â‡™à“∑’Ë¥‘π¢Õß∫√‘…—∑ ‘π¿√“¥√ ®”°—¥ ‡æ◊ËÕ„™â‡ªìπ∑“ß‡¢â“-ÕÕ° ·≈– ”À√—∫«“ß√–∫∫®”Àπà“¬ “¬‰øøÑ“·≈–

‰ÕπÈ” „πÕ—μ√“§à“‡™à“‡¥’¬«°—π°—∫∑’Ë∫√‘…—∑ ‘π¿√“¥√ ®”°—¥ ‰¥âμ°≈ß°—∫≈Ÿ°§â“√“¬Õ◊Ëπ„π‡¢μ «πÕÿμ “À°√√√¡‡§√◊Õ

Àæ—≤πå »√’√“™“ ®÷ß∂◊Õ‰¥â«à“√“¬°“√‡™à“∑’Ë¥‘ππ’È¡’§«“¡ ¡‡Àμÿ ¡º≈·≈–‡ªìπ√“§“¬ÿμ‘∏√√¡

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Appropriations of Related Transaction

The related transactions in the past year were conducted in the normal course of business operation.The company has a policy to maintain the optimal benefit, including the pricing policy which shallbe determined by the market price. The related party transactions in the past year are as follows:

1. Transaction with Saha Pattana Interholding PCL (SPI)Transaction : Electricity and Steam Purchase AgreementsDue to the conditions of the Credit Facilities Agreement that the company had to conditionally assigncontracts to the lenders, the complication to complete the electricity and steam purchase agreementsand consents of the associatd assignments with number of users become not practicable in theallowable time frame. In addition, the concession to operate this business was limited only in the area ofSPI and not covering the SPI owned distribution system. Therefore, the company had to resolved thecomplication by entering into the Electricity and Steam Purchase Agreement with SPI. SPI had taken aretailer role selling electricity energy and steam with the predetermined applicable discount (0.5% on the1-10 contract year and 1.5% on the rest for electricityand 0.5% thorough the contract year for steam)On the other hand, the company occasionally purchased raw water and regularly purchased waste watertreatment services from SPI. The raw water and waste water treatment charges to the company arestandardized for all industrial tenants in the Sriracha Saha Group Industrial Park. Therefore, the relatedtransaction between the company and SPI are normal business practices.

2. Transaction with Operational Energy Group Ltd. (OEG)Transaction : Operation and Maintenance Agreement, Leased Engine AgreementThe applicable fees under the Operation and Maintenance Agreement with OEG are the normal marketprice as charged to its other customers. Moreover, S&J International Enterprises PCL, who is thecommon shareholder of both OEG and the company, will control and assure the mutual interest. Theleased engine contract was entered with OEG after thorough evaluation through the bidding process.Therefore, this transaction is reasonable and is a normal business practice as well.

3. Transaction with Sinparadorn Co., Ltd.Transaction : Land Rental AgreementThe company has land rental agreement with Sinparadorn Co., Ltd of which the leased land was utilizedas the plant access and to accommodate the electricity and steam distribution system. The rental rateis normal market identical to all tenants located in the Sriracha Saha Group Industrial Park. Therefore,this transaction between the company and Sinparadorn Co., Ltd. is reasonable.

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4. √“¬°“√√–À«à“ß∫√‘…—∑°—∫∫√‘…—∑ æ‘∑—°…å°‘® ®”°—¥≈—°…≥–¢Õß√“¬°“√ : ß“π®â“ß°àÕ √â“ß∑—Ë«‰ª

∫√‘…—∑‰¥â«à“®â“ß∫√‘…—∑ æ‘∑—°…å°‘® ®”°—¥ ¥”‡π‘π°“√„π°“√°àÕ √â“ß∑—Ë«‰ª ‡™àπ °“√´àÕ¡·´¡ ”π—°ß“π ß“πμàÕ‡μ‘¡μà“ßÊ

‚¥¬ºà“π¢—ÈπμÕπ°“√‡ πÕ√“§“ °“√‡ª√’¬∫‡∑’¬∫°—∫ºŸâ√—∫‡À¡“√“¬Õ◊Ëπ ®÷ß∂◊Õ‰¥â«à“√“¬°“√π’È‡ªìπ‰ªμ“¡¢—ÈπμÕπ°“√®—¥®â“ßª°μ‘5. √“¬°“√√–À«à“ß∫√‘…—∑°—∫∫√‘…—∑ À‚§‡®π °√’π ®”°—¥

≈—°…≥–¢Õß√“¬°“√ : °“√¢“¬∑√—æ¬å ‘π

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

ºŸâ∂◊ÕÀÿâπ 99.99% ¢Õß∫√‘…—∑ À‚§‡®π °√’π ®”°—¥ ®÷ß∂◊Õ‰¥â«à“√“¬°“√μà“ßÊ ∑’Ë‡°‘¥®“°°“√¢“¬∑√—æ¬å ‘π ‡ªìπ‰ªμ“¡

‡ß◊ËÕπ‰¢·≈–‡°≥±å∑“ß°“√§â“‚¥¬ª°μ‘

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

·≈–μâÕß¡’°√√¡°“√μ√«® Õ∫‡¢â“√à«¡ª√–™ÿ¡ ‡æ◊ËÕæ‘®“√≥“·≈–Õπÿ¡—μ‘°“√∑”√“¬°“√√–À«à“ß°—π„Àâ‡ªìπ‰ªμ“¡°ÆÀ¡“¬«à“¥â«¬

À≈—°∑√—æ¬å·≈–μ≈“¥À≈—°∑√—æ¬å ·≈–¢âÕ∫—ß§—∫ ª√–°“» §” —Ëß À√◊Õ¢âÕ°”Àπ¥¢Õßμ≈“¥À≈—°∑√—æ¬å·Ààßª√–‡∑»‰∑¬ ´÷Ëß

ºŸâ∑’ËÕ“®¡’§«“¡¢—¥·¬âßÀ√◊Õ¡’ à«π‰¥â‡ ’¬„π°“√∑”√“¬°“√√–À«à“ß°—π®–‰¡à¡’ ‘∑∏‘ÕÕ°‡ ’¬ß≈ß¡μ‘„π°“√∑”√“¬°“√√–À«à“ß°—ππ—ÈπÊ

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

°“√∑”√“¬°“√√–À«à“ß°—π∑’Ë‡°‘¥¢÷Èπ„πªí®®ÿ∫—π·≈–μàÕ‰ª„πÕπ“§μ ‚¥¬®–¡’°“√°”Àπ¥¢âÕμ°≈ß·≈–‡ß◊ËÕπ‰¢μà“ßÊ „Àâ‡ªìπ‰ª

μ“¡‡ß◊ËÕπ‰¢°“√§â“ª°μ‘∑—Ë«‰ª·≈–‡ªìπ‰ªμ“¡√“§“μ≈“¥∑’Ë ¡‡Àμÿ ¡º≈ “¡“√∂μ√«® Õ∫À√◊Õ‡∑’¬∫√“§“∑’Ë‡°‘¥¢÷Èπ°—∫∫ÿ§§≈

¿“¬πÕ°‰¥â æ√âÕ¡∑—Èßºà“π°“√Õπÿ¡—μ‘μ“¡¢—ÈπμÕπ·≈–°Æ√–‡∫’¬∫∑’Ë‡°’Ë¬«¢âÕßÕ¬à“ß∂Ÿ°μâÕß à«π√“¬°“√√–À«à“ß°—π∑’ËÕ“®‡°‘¥¢÷Èπ

‰¥â„πÕπ“§μπ—Èπ §≥–°√√¡°“√®–ªØ‘∫—μ‘„Àâ‡ªìπ‰ªμ“¡°ÆÀ¡“¬ ¢âÕ∫—ß§—∫ ª√–°“» À√◊Õ¿“¬„μâª√–°“»·≈–¢âÕ∫—ß§—∫¢Õß

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

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

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

·Ààßª√–‡∑»‰∑¬

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4. Transaction with Pitakkij Co., Ltd.Transaction : Service ChargesPitakkij Co., Ltd. is an experienced constractor providing general construction services including buildingrenovations and maintenances to the Company. The company usually employed Pitakij Co., Ltd. throughthe bidding process. The transactions are normal business practice and beneficial to the company.

5. Transaction with Sahacogen Green Co., Ltd.Transaction : Sale of AssetsSahacogen Green Co., Ltd. was established for the the Renewable Energy Business. The company holds99.99% of share in Sahacogen Green Co., Ltd; therefore, any activities on selling assets to its subsidiaryare on normal business conditions.

Procedural Approval of Related Business TransactionAccording to the companyûs policy, all transactions between the company and related entities or

persons shall be approved in the Board of Directorûs meeting with the presence of the audit committees. Thereview and approval of the related transactions will follow and in full compliance with the Securities andExchange Act of 1992 and rules, regulations and notifications regulated by the Stock Exchange of Thailand.Any directors having a conflict of interests will not have right to vote on the approval of such relatedtransactions.

Policy or Potential Related Transaction in the FutureThe company expects these related transactions at present will continue, however, the company has a

policy to control them to be a normal business practice and market price conditions. The company willassure the future related transactions be fully controlled according to the law, rules and regulations of theStock Exchange of Thailand and all to be disclose in the financial statements audited by the auditor.

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ªí®®—¬§«“¡‡ ’Ë¬ß·≈–°“√∫√‘À“√§«“¡‡ ’Ë¬ß

∫√‘…—∑‰¥âμ√–Àπ—°∂÷ßªí®®—¬‡ ’Ë¬ß∑’ËÕ“®‡°‘¥¢÷Èπ®“°°“√¥”‡π‘π∏ÿ√°‘® ®÷ß‰¥â¡’°“√¥”‡π‘π°“√∫√‘À“√®—¥°“√‡æ◊ËÕ§«∫§ÿ¡§«“¡

‡ ’Ë¬ßμà“ßÊ ´÷Ëßªí®®—¬‡ ’Ë¬ß∑’Ë§«√æ‘®“√≥“ ¡’¥—ßπ’Èë §«“¡‡ ’Ë¬ß®“°°“√ ‘Èπ ÿ¥ —¡ª∑“πª√–°Õ∫°‘®°“√‰øøÑ“

∫√‘…—∑‰¥â√—∫ —¡ª∑“πª√–°Õ∫°‘®°“√‰øøÑ“‡ªìπ√–¬–‡«≈“ 15 ªï ÷́Ëß‡ªìπÕ“¬ÿ —¡ª∑“π Ÿß ÿ¥μ“¡¢âÕ®”°—¥∑“ß°ÆÀ¡“¬

‚¥¬¡’‡ß◊ËÕπ‰¢«à“‡¡◊ËÕ —¡ª∑“π ‘ÈπÕ“¬ÿ ºŸâ„Àâ —¡ª∑“π¡’ ‘∑∏‘∑’Ë®–´◊ÈÕ°‘®°“√‰øøÑ“∑—ÈßÀ¡¥®“°ºŸâ√—∫ —¡ª∑“π À“°ºŸâ„Àâ —¡ª∑“π

‰¡àª√– ß§å®–´◊ÈÕ·≈–ºŸâ√—∫ —¡ª∑“π¡’§«“¡ª√– ß§å®–¥”‡π‘π°“√μàÕ‰ª ºŸâ„Àâ —¡ª∑“π®–æ‘®“√≥“μàÕÕ“¬ÿ —¡ª∑“π

ÕÕ°‰ªμ“¡ ¡§«√ „π¢≥–∑’Ë∫√‘…—∑¡’ —≠≠“´◊ÈÕ¢“¬‰øøÑ“°—∫°“√‰øøÑ“ΩÉ“¬º≈‘μ·Ààßª√–‡∑»‰∑¬ ‡ªìπ√–¬–‡«≈“ 25 ªï

·≈–¡’ —≠≠“´◊ÈÕ¢“¬‰øøÑ“°—∫ ∫√‘…—∑ Àæ—≤π“Õ‘π‡μÕ√å‚Œ≈¥‘Èß ®”°—¥ (¡À“™π) ‡ªìπ√–¬–‡«≈“ 15 ªï ¥—ßπ—Èπ ∫√‘…—∑

®÷ß¡’§«“¡‡ ’Ë¬ß„π°“√‰¡à “¡“√∂ª√–°Õ∫∏ÿ√°‘® °√≥’‰¡à‰¥â√—∫°“√μàÕÕ“¬ÿ —¡ª∑“πª√–°Õ∫°‘®°“√‰øøÑ“

ë §«“¡‡ ’Ë¬ß®“°°“√∫Õ°‡≈‘° —≠≠“´◊ÈÕ¢“¬‰øøÑ“·≈–‰ÕπÈ”∫√‘…—∑¡’§«“¡‡ ’Ë¬ßÀ“°≈Ÿ°§â“√“¬„¥√“¬Àπ÷Ëß®“° 2 √“¬‰¥â·°à °“√‰øøÑ“ΩÉ“¬º≈‘μ·Ààßª√–‡∑»‰∑¬ ·≈–∫√‘…—∑

Àæ—≤π“Õ‘π‡μÕ√å‚Œ≈¥‘Èß ®”°—¥ (¡À“™π) ∫Õ°‡≈‘° —≠≠“ ◊́ÈÕ¢“¬ Õ¬à“ß‰√°Áμ“¡ ®“°º≈°“√¥”‡π‘πß“π∑’Ë∫√‘…—∑ “¡“√∂

ªØ‘∫—μ‘μ“¡‡ß◊ËÕπ‰¢ ”§—≠μà“ßÊ ∑’Ë√–∫ÿ„π —≠≠“´◊ÈÕ¢“¬‰øøÑ“∑ÿ°ª√–‡¿∑π—∫μ—Èß·μà«—π‡√‘Ë¡μâπ´◊ÈÕ¢“¬‰øøÑ“ §«“¡‡ ’Ë¬ß

„π°“√∂Ÿ°∫Õ°‡≈‘° —≠≠“´◊ÈÕ¢“¬‰øøÑ“®“°°“√‰øøÑ“ΩÉ“¬º≈‘μ·Ààßª√–‡∑»‰∑¬®÷ßÕ¬Ÿà„π‡°≥±åμË”

„π à«π¢Õß —≠≠“ ◊́ÈÕ¢“¬‰øøÑ“·≈–‰ÕπÈ”°—∫∫√‘…—∑ Àæ—≤π“Õ‘π‡μÕ√å‚Œ≈¥‘Èß ®”°—¥ (¡À“™π) ºŸâ„™â ‰øøÑ“·≈–‰ÕπÈ”∑—ÈßÀ¡¥

≈â«π·≈â«·μà‡ªìπ∫√‘…—∑„π°≈ÿà¡ Àæ—≤πå‡™àπ‡¥’¬«°—∫∫√‘…—∑ ·≈–®“°°“√ªØ‘∫—μ‘μ“¡‡ß◊ËÕπ‰¢„π°“√ àß¡Õ∫‰øøÑ“·≈–‰ÕπÈ”

‰¥âÕ¬à“ß§√∫∂â«π √«¡∑—Èß¡’°“√ª√—∫ª√ÿß§ÿ≥¿“æ°“√∫√‘°“√Õ¬à“ßμàÕ‡π◊ËÕß ®÷ß∑”„Àâ‡™◊ËÕ‰¥â«à“‡Àμÿ·Ààß°“√∑’Ë∫√‘…—∑ Àæ—≤π“

Õ‘π‡μÕ√å‚Œ≈¥‘Èß ®”°—¥ (¡À“™π) ®–∫Õ°‡≈‘° —≠≠“ ◊́ÈÕ¢“¬‰øøÑ“·≈–‰ÕπÈ”°—∫∫√‘…—∑‡ªìπ‰ª‰¥âπâÕ¬¡“°

ë §«“¡‡ ’Ë¬ß„π°“√∂Ÿ°ª√—∫≈¥ª√‘¡“≥æ≈—ß‰øøÑ“μ“¡ —≠≠“ ◊́ÈÕ¢“¬‰øøÑ“°—∫ °Ωº.∫√‘…—∑®–¡’§«“¡‡ ’Ë¬ß„π°“√∂Ÿ°ª√—∫≈¥ª√‘¡“≥æ≈—ß‰øøÑ“μ“¡ —≠≠“´◊ÈÕ¢“¬‰øøÑ“ „π°√≥’∑’Ë∫√‘…—∑‰¡à “¡“√∂®à“¬

æ≈—ß‰øøÑ“‰¥âμ“¡ª√‘¡“≥∑’Ë°”Àπ¥„π —≠≠“·≈–‰¡à “¡“√∂·°â ‰¢‰¥â¿“¬„π√–¬–‡«≈“ 18 ‡¥◊Õπ Õ¬à“ß‰√°Áμ“¡ ∫√‘…—∑

¡’°“√°”Àπ¥‡ß◊ËÕπ‰¢„π —≠≠“°“√ªØ‘∫—μ‘°“√·≈–∫”√ÿß√—°…“„Àâ ∫√‘…—∑ ÕÕªÕ‡√™—ËππÕ≈ ‡ÕÁπ‡πÕ√å¬’Ë °√ÿäª ®”°—¥

√—∫ª√–°—πª√‘¡“≥ (Capacity) ·≈–‡ ∂’¬√¿“æ„π°“√®à“¬‰øøÑ“„Àâ°—∫°“√‰øøÑ“ΩÉ“¬º≈‘μ·Ààßª√–‡∑»‰∑¬ „π™à«ß

§«“¡μâÕß°“√„™â ‰øøÑ“ Ÿß ÿ¥ (EGAT Peak Period Capacity) πÕ°®“°π’È °“√‡æ‘Ë¡°”≈—ßº≈‘μ„πªï 2548 ∑”„Àâ

°”≈—ßº≈‘μ¢Õß‚√ß‰øøÑ“‡æ’¬ßæÕ·≈– “¡“√∂√Õß√—∫°“√„™â ‰øøÑ“¿“¬„π «πÕÿμ “À°√√¡‡§√◊Õ Àæ—≤πå-»√’√“™“

‰¥âÕ’° 40 % ¢Õß§«“¡μâÕß°“√„πªí®®ÿ∫—π

ë §«“¡‡ ’Ë¬ß„π°“√æ÷Ëßæ‘ßºŸâ¥”‡π‘π°“√¥â“π°“√ªØ‘∫—μ‘°“√‡¥‘π‡§√◊ËÕß·≈–∫”√ÿß√—°…“‚√ß‰øøÑ“∫√‘…—∑·≈–∫√‘…—∑ ÕÕªÕ‡√™—ËππÕ≈ ‡ÕÁπ‡πÕ√å¬’Ë °√ÿäª ®”°—¥ ¡’ºŸâ∂◊ÕÀÿâπ√à«¡°—π§◊Õ ∫√‘…—∑ ‡Õ ·Õπ¥å‡® Õ‘π‡μÕ√å‡π™—Ëπ·π≈

‡Õπ‡μÕ√å‰æ√ å ®”°—¥ (¡À“™π) ÷́Ëß∂◊ÕÀÿâπ‚¥¬μ√ß„π∫√‘…—∑ ÕÕªÕ‡√™—ËππÕ≈ ‡ÕÁπ‡πÕ√å¬’Ë °√ÿäª ®”°—¥ √âÕ¬≈– 30 ¢Õß

∑ÿπ®¥∑–‡∫’¬π∑’Ë‡√’¬°™”√–·≈â« ·≈–∂◊ÕÀÿâπ‚¥¬μ√ß„π∫√‘…—∑√âÕ¬≈– 13.96 ¢Õß∑ÿπ®¥∑–‡∫’¬π∑’Ë‡√’¬°™”√–·≈â« ∑”„Àâ

‡™◊ËÕ‰¥â«à“¡’§«“¡‡ªìπ‰ª‰¥â§àÕπ¢â“ßπâÕ¬∑’Ë®–¡’°“√¬°‡≈‘°À√◊Õ‰¡àμàÕ —≠≠“°—∫∫√‘…—∑ „π°√≥’¡’°“√¬°‡≈‘° —≠≠“®–μâÕß

¡’°“√·®âß≈à«ßÀπâ“‰¡àπâÕ¬°«à“ 12 ‡¥◊Õπ ´÷Ëß‡ªìπ√–¬–‡«≈“∑’Ë‡æ’¬ßæÕ ”À√—∫°“√§—¥‡≈◊Õ°ºŸâ™”π“≠°“√√“¬Õ◊Ëπ¡“

¥”‡π‘πß“π·∑π‰¥â

33

Risk Factors and Management

The company is fully aware of the importance managing risk factors associated with the company

business. The major risk factors have been identified, evaluated and managed under the risk management

plan as described below.ë Risks from the Expiry of the Concession to Operate the Power Business

The company has secured a 15-year concession, which is maximum by law, with the conditions that

when the term expires, the authorizing authority can takeover the business from the concessionaire. If

the authorizing authority does not want to take over the business and the concessionaire wishes to run

its business on its own, the authorizing authority may extend its concession. Meanwhile, the company

has signed a 25-year contract with EGAT and a 15-year contract with Saha Pattana Inter-Holding PCL.

The company therefore bears the risk of inability to generate and distribute electricity if the concession

is taken over by the authorizing authority after its 15-year term.

ë Risk of Termination of Electricity and Steam Purchase AgreementThe company exposed to the risk if any one of two customers terminates its contract. However, since

the effcitive date of the contract, the company has fulfilled all obligations under the contract, the risk of

early termination by EGAT is deemed low.

All offtakers of electricity and steam via Saha Pattana Inter-Holding PCL are companies in the Saha

Group as same as the company is. The past energy services were satisfied and all obligations and

commitments were fulfilled; therefore, the possibility that the Saha Pattana Inter-Holding PCL would

terminate the contract is very low.

ë Risk in Reduction of Electricity Purchase Demand of EGATIf the company cannot supply the full amount of electricity as contracted and cannot solve this problem

within 18 months, the company is subject to a reduction in the amount purchased via the contract by

EGAT.

However, the company has defined the conditions in the operation and maintenance agreement that

OEG has to guarantee the capacity and reliability of the electricity supply to EGAT, especially during

peak periods. Moreover, the increased production capacity from the expansion project not only ensures

adequate electricity supply to EGAT but also provides reserved capacity to capture the industrial growth

of 40% of the existing demand.

ë Risk in Dependence on Operation and MaintenanceThe company is taking a risk in being dependent on OEG for operation and maintenance. However, both

OEG and the company have a common shareholder namely S&J International Enterprises PCL who

holds 30% of paid-up shares in the OEG and also holds 13.96% of the companyûs shares. It is believed

that there is little possibility that either party would terminate the contract. Moreover, the company has

to be informed at least 12 months in advance if OEG wants to terminate the contract. Such an amount

of time is adequate to find another professional to take care of this responsibility.

34

ë §«“¡‡ ’Ë¬ß„π°“√®—¥À“«—μ∂ÿ¥‘∫‡æ◊ËÕ≈¥§«“¡‡ ’Ë¬ß„π°“√®—¥À“«—μ∂ÿ¥‘∫∑’Ë ”§—≠ª√–°Õ∫¥â«¬ °ä“´∏√√¡™“μ‘ ·≈–πÈ”¥‘∫ ∫√‘…—∑®÷ß®—¥∑” —≠≠“√–¬–¬“«

°—∫ºŸâ®”Àπà“¬ ‚¥¬ —≠≠“´◊ÈÕ°ä“´∏√√¡™“μ‘°—∫∫¡®. ªμ∑. ¡’√–¬–‡«≈“ 21 ªï π—∫®“°«—π∑’Ë∫√‘…—∑‰¥â‡√‘Ë¡¥”‡π‘π°“√„™âª√–‚¬™πå

‡æ◊ËÕ°“√§â“ ·≈– “¡“√∂μàÕÕ“¬ÿ —≠≠“‰¥âÕ’° 4 ªï —≠≠“ ◊́ÈÕ¢“¬πÈ”¥‘∫√–¬–¬“« 25 ªï °—∫ ∫¡®. ®—¥°“√·≈–æ—≤π“

∑√—æ¬“°√πÈ”¿“§μ–«—πÕÕ° πÕ°®“°π’È ∫√‘…—∑¬—ß¡’·À≈àßπÈ”¥‘∫ ”√ÕßÕ’°·À≈àßÀπ÷Ëß ´÷Ëß‡°Á∫Õ¬Ÿà„πÕà“ß‡°Á∫πÈ”¿“¬„π‡¢μ

«πÕÿμ “À°√√¡‡§√◊Õ Àæ—≤πå-»√’√“™“ ®—ßÀ«—¥™≈∫ÿ√’ ·≈–®—¥ √â“ß∫àÕ·≈–√–∫∫√—∫πÈ”§«“¡®ÿ 2,000 ≈Ÿ°∫“»°å‡¡μ√

¿“¬„π‚√ß‰øøÑ“‡™◊ËÕ¡‚¬ß‡¢â“°—∫√–∫∫º≈‘μ¢Õß‚√ß‰øøÑ“

ë §«“¡º—π·ª√¢Õß√“§“«—μ∂ÿ¥‘∫∑’Ë„™â„π°“√º≈‘μ§à“æ≈—ßß“π‰øøÑ“„π —≠≠“ ◊́ÈÕ¢“¬‰øøÑ“°—∫ °“√‰øøÑ“ΩÉ“¬º≈‘μ·Ààßª√–‡∑»‰∑¬ ®–§”π«≥μ“¡ Ÿμ√Õ—μ√“§à“æ≈—ßß“π‰øøÑ“

´÷Ëß·ª√º—πμ“¡μâπ∑ÿπ®√‘ß¢Õß√“§“°ä“´∏√√¡™“μ‘ ∑”„Àâ∫√‘…—∑‰¥â√—∫°“√™¥‡™¬º≈°√–∑∫®“°°“√‡ª≈’Ë¬π·ª≈ß√“§“

°ä“´∏√√¡™“μ‘„π à«π¢Õß°“√º≈‘μ‰øøÑ“∑’Ë¢“¬„Àâ°“√‰øøÑ“ΩÉ“¬º≈‘μ·Ààßª√–‡∑»‰∑¬∑—ÈßÀ¡¥

„π à«π¢Õß§à“æ≈—ßß“π‰øøÑ“∑’Ë‡√’¬°‡°Á∫®“° ∫¡®. Àæ—≤π“Õ‘π‡μÕ√å‚Œ≈¥‘Èß ®–Õâ“ßÕ‘ß°—∫Õ—μ√“§à“‰øøÑ“¢Õß°“√‰øøÑ“

à«π¿Ÿ¡‘¿“§ ́ ÷Ëß¡’°“√ª√—∫‡ª≈’Ë¬πμ“¡μâπ∑ÿπ‡™◊ÈÕ‡æ≈‘ß´÷Ëß‡√’¬°«à“ Ÿμ√ª√—∫Õ—μ√“§à“‰øøÑ“Õ—μ‚π¡—μ‘ (FT) ∑ÿ° 4 ‡¥◊Õπ ∑”„Àâ

§à“æ≈—ßß“π‰øøÑ“‡ª≈’Ë¬π·ª≈ßμ“¡√“§“°ä“´∏√√¡™“μ‘‡™àπ‡¥’¬«°—π

ë §«“¡‡ ’Ë¬ß®“°Õ—μ√“·≈°‡ª≈’Ë¬π∫√‘…—∑¡’§«“¡‡ ’Ë¬ß®“°Õ—μ√“·≈°‡ª≈’Ë¬π„π à«π∑’Ë‡°‘¥®“°¿“√–‡ß‘π°Ÿâ·≈–¥Õ°‡∫’È¬®à“¬§àÕπ¢â“ßμË” ‡π◊ËÕß®“°√“¬°“√∑“ß

∏ÿ√°‘® à«π„À≠à‡ªìπ °ÿ≈‡ß‘π∫“∑ ·μàÕ“®‰¥â√—∫º≈°√–∑∫¢ÕßÕ—μ√“·≈°‡ª≈’Ë¬π§à“‡ß‘π∫“∑μàÕ‡ß‘π °ÿ≈¥Õ≈≈“√å À√—∞Õ‡¡√‘°“

„π à«π¢Õß√“¬‰¥â®“°§à“æ≈—ß‰øøÑ“∑’Ë‡√’¬°‡°Á∫®“°°“√‰øøÑ“ΩÉ“¬º≈‘μ·Ààßª√–‡∑»‰∑¬ ‡π◊ËÕß®“°√âÕ¬≈– 80 ¢ÕßÕ—μ√“

§à“æ≈—ß‰øøÑ“®–·ª√μ“¡Õ—μ√“·≈°‡ª≈’Ë¬π¢Õß °ÿ≈‡ß‘π¥Õ≈≈“Àå À√—∞Õ‡¡√‘°“ Õ¬à“ß‰√°Áμ“¡°“√‡ª≈’Ë¬π·ª≈ß¢ÕßÕ—μ√“

·≈°‡ª≈’Ë¬π∑ÿ°Ê 1 ∫“∑ ®– àßº≈°√–∑∫μàÕ°“√‡ª≈’Ë¬π·ª≈ß¢Õß√“¬‰¥â¢Õß∫√‘…—∑ª√–¡“≥ 805,000 ∫“∑μàÕ‡¥◊Õπ À√◊Õ

§‘¥‡ªìπ√âÕ¬≈– 0.70 ¢Õß√“¬‰¥â√«¡¢Õßß∫°“√‡ß‘π‡©æ“–°‘®°“√ ¥—ßπ—Èπº≈°√–∑∫®“°Õ—μ√“·≈°‡ª≈’Ë¬πμàÕ√“¬‰¥â√«¡

®÷ßÕ¬Ÿà„π‡°≥±å∑’ËμË”

ë §«“¡‡ ’Ë¬ß®“°Õ—μ√“¥Õ°‡∫’È¬∫√‘…—∑¬—ß§ß¡’§«“¡‡ ’Ë¬ß®“°Õ—μ√“¥Õ°‡∫’È¬Õ—π‡π◊ËÕß¡“®“°°“√ß‘π°Ÿâ¬◊¡√–¬–¬“«∑’Ë¡’¥Õ°‡∫’È¬ ‡π◊ËÕß®“°Õ—μ√“¥Õ°‡∫’È¬¡’°“√

ª√—∫¢÷Èπ≈ßμ“¡Õ—μ√“μ≈“¥ Õ¬à“ß‰√°Áμ“¡∫√‘…—∑¡’·ºπ √ÿª°“√‡®√®“°—∫ ∂“∫—π°“√‡ß‘π‡æ◊ËÕª√—∫‚§√ß √â“ß¥Õ°‡∫’È¬„Àâ

‡ªìπÕ—μ√“¥Õ°‡∫’È¬§ß∑’Ë‡æ◊ËÕ≈¥§«“¡‡ ’Ë¬ß„π‡√◊ËÕß§«“¡º—πº«π¢ÕßÕ—μ√“¥Õ°‡∫’È¬‡ß‘π°Ÿâ¬◊¡„Àâ·≈â«‡ √Á®„πªï 2551

ë §«“¡‡ ’Ë¬ß∑’Ë‡°’Ë¬«¢âÕß°—∫°“√‡ª≈’Ë¬π·ª≈ß°ÆÀ¡“¬ ¢âÕ∫—ß§—∫ ·≈–π‚¬∫“¬¢Õß¿“§√—∞∫“≈„π —≠≠“´◊ÈÕ¢“¬‰øøÑ“√–À«à“ß∫√‘…—∑°—∫°“√‰øøÑ“ΩÉ“¬º≈‘μ·Ààßª√–‡∑»‰∑¬ ‰¥â√–∫ÿ‡ß◊ËÕπ‰¢„π°√≥’∑’Ë°“√‡ª≈’Ë¬π·ª≈ß

∑“ß°ÆÀ¡“¬ àßº≈„Àâ∫√‘…—∑μâÕß·°â ‰¢ª√—∫ª√ÿß‚√ß‰øøÑ“„πª√–°“√ ”§—≠ À√◊ÕμâÕß·°â ‰¢ª√—∫ª√ÿß„π¥â“πÕ◊Ëπ∑’Ë‡°’Ë¬«¢âÕß

°—∫°“√º≈‘μ‰øøÑ“À√◊Õ°“√∫”√ÿß√—°…“‚√ß‰øøÑ“¢Õß∫√‘…—∑ ´÷Ëß¡’º≈°√–∑∫Õ¬à“ß√ÿπ·√ßμàÕ§à“„™â®à“¬À√◊Õ√“¬‰¥â¢Õß∫√‘…—∑

(√«¡∂÷ß∑’Ë‡°’Ë¬«°—∫¿“…’¥â«¬) ∫√‘…—∑ “¡“√∂‡ πÕ√“¬≈–‡Õ’¬¥§à“„™â®à“¬‡°’Ë¬«°—∫°“√·°â ‰¢ª√—∫ª√ÿßπ—Èπ μ“¡·μà∑’Ë°“√

‰øøÑ“ΩÉ“¬º≈‘μ·Ààßª√–‡∑»‰∑¬√âÕß¢Õμ“¡ ¡§«√ ‡æ◊ËÕ„Àâ°“√‰øøÑ“ΩÉ“¬º≈‘μ·Ààßª√–‡∑»‰∑¬π”‡ πÕ ”π—°ß“ππ‚¬∫“¬

·≈–·ºπæ≈—ßß“π °√–∑√«ßæ≈—ßß“πæ‘®“√≥“ ¥—ßπ—Èπ ∫√‘…—∑Õ“®¡’§«“¡‡ ’Ë¬ßμàÕ¿“√–§à“„™â®à“¬∑’Ë‡°‘¥¢÷Èπ‰¥â„π°√≥’

∑’Ë ”π—°ß“π‚¬∫“¬·≈–·ºπæ≈—ßß“πæ‘®“√≥“«à“®–‰¡à®à“¬§à“™¥‡™¬„Àâ°—∫∫√‘…—∑

35

ë Raw Materials RiskTo secure essential raw materials: natural gas and raw water, the company has defined alleviating

measures by signing a contract with the PTT Public Company Limited to purchase its natural gas. The

contract term is 21 years with four years extendable. The company has also signed a 25-year contract

with the Eastern Water Resources Development and Management PCL for the raw water supply. In

emergency case, the raw water can be drawn from a reservoir in the Sriracha Saha Group Industrial Park

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

ë Risk of Changes in Raw Materials PricesIn the contract with EGAT, the electricity energy charge will be calculated using a formula linked to the

respective natural gas price; therefore, any changes in natural gas prices will be passed on through

EGAT in the energy charge.

The electricity charge to Saha Pattana Inter-Holding PCL is referenced with the electricity tariff of the

Provincial Electricity Authority. The tariff contains one component called a fuel tariff adjustment (FT)

which will be adjusted every four-month period to reflect the actual average fuel costs, therefore, the

change in fuel costs is also compensated.

ë Fluctuation in Exchange Rate RiskThe fluctuation in exchange rate risk has a slight effect to the company since most of the companyûs

business activities are majority on Thai Baht. The changes in exchange rate Baht to US dollar will affect

the revenue from electricity capacity charge to EGAT which 80% of the capacity charges is indexed to

the US currency rate. Every one baht change in the exchange rate will affect the companyûs income by

about 805,000 Baht per month (0.70% of the overall income). Consequently, the effect of the exchange

rate is low.

ë Risk of Interest RateThe company carries interest risk from floating interest rate of the long-term loan. However, the company

has been exploring flor an attractive fixed interest rate and target to conclude in early 2008.

ë Risk in the Amendment of Laws, Regulations and Governmental PoliciesThe contract with EGAT contains a condition that if any legal changes require the company to modify the

power plant or to make any adjustment related to the power production or maintenance, which affects

the companyûs costs and incomes (including tax); the company can request the compensation of

unexpected and additional expenditures from these changes to EGAT. EGAT will make a proposal to the

Office of Policy and Energy Planning, the Ministry of Energy for consideration. Therefore, the company

takes a risk of bearing such expenditures if the Ministry refuses to make any compensation to the

company.

36

à«π —≠≠“´◊ÈÕ¢“¬‰øøÑ“·≈–‰ÕπÈ”°—∫∫√‘…—∑ Àæ—≤π“Õ‘π‡μÕ√å‚Œ≈¥‘Èß ®”°—¥ (¡À“™π) √–∫ÿ‡ß◊ËÕπ‰¢«à“®–√à«¡¡◊Õ°—π

„π°“√·°âªí≠À“º≈°√–∑∫∑’ËÕ“®‡°‘¥¢÷ÈπÀ“°¡’°“√‡ª≈’Ë¬π·ª≈ß°ÆÀ¡“¬ ¢âÕ∫—ß§—∫ ·≈–π‚¬∫“¬¢Õß¿“§√—∞∫“≈ ‚¥¬

®–√à«¡°—πª√—∫ª√ÿß‡ß◊ËÕπ‰¢∑’Ë‡°’Ë¬«¢âÕß„π —≠≠“´◊ÈÕ¢“¬‰øøÑ“·≈–‰ÕπÈ” ‡æ◊ËÕ„Àâ “¡“√∂ªØ‘∫—μ‘μ“¡ —≠≠“μàÕ‰ª‰¥â ∑”„Àâ

∫√‘…—∑¡’§«“¡‡ ’Ë¬ß„π‡√◊ËÕßπ’È§àÕπ¢â“ßμË”

ë §«“¡‡ ’Ë¬ß¥â“π¢âÕ∫—ß§—∫‡°’Ë¬«°—∫ ‘Ëß·«¥≈âÕ¡·≈–§«“¡ª≈Õ¥¿—¬∫√‘…—∑„Àâ§«“¡ ”§—≠°—∫°“√μ√«®μ‘¥μ“¡·≈–§«∫§ÿ¡º≈°√–∑∫ ‘Ëß·«¥≈âÕ¡·≈–§«“¡ª≈Õ¥¿—¬®“°°“√º≈‘μ ‰¥â√—∫°“√

√—∫√Õß√–∫∫°“√®—¥°“√ ‘Ëß·«¥≈âÕ¡μ“¡¡“μ√∞“π ISO 14001:2004 ®“° ∂“∫—π√—∫√Õß¡“μ√∞“π‰Õ‡Õ ‚Õ (MASCI)

μ—Èß·μà«—π∑’Ë 25 æƒ»®‘°“¬π 2548 À≈—ßºà“π°“√μ√«®ª√–‡¡‘πμ“¡¡“μ√∞“π∑’Ëª√—∫ª√ÿß„À¡à πÕ°®“°π’È∫√‘…—∑¬—ß‰¥â

®—¥∑”√“¬ß“π°“√μ‘¥μ“¡¡“μ√°“√≈¥º≈°√–∑∫·≈–μ‘¥μ“¡μ√«® Õ∫°“√®—¥°“√ ‘Ëß·«¥≈âÕ¡‚√ß‰øøÑ“æ≈—ß§«“¡√âÕπ

√à«¡¢Õß∫√‘…—∑‚¥¬∫√‘…—∑ Õ’ ‡∑‘√åπ ‰∑¬§Õπ´—≈μ‘Èß 1992 ®”°—¥ ‡æ◊ËÕ‡ πÕμàÕ ”π—°ß“ππ‚¬∫“¬·≈–·ºπ∑√—æ¬“°√

∏√√¡™“μ‘·≈– ‘Ëß·«¥≈âÕ¡ °√¡‚√ßß“πÕÿμ “À°√√¡ ·≈– ”π—°ß“πÕÿμ “À°√√¡ ®—ßÀ«—¥™≈∫ÿ√’‡ªìπª√–®”∑ÿ° 6 ‡¥◊Õπ

®“°°“√§«∫§ÿ¡§ÿ≥¿“æ ‘Ëß·«¥≈âÕ¡„π¥â“πμà“ßÊ Õ¬à“ß‡¢â¡ß«¥Õ¬à“ß ¡Ë”‡ ¡Õ àßº≈„Àâ∫√‘…—∑‰¥â√—∫√“ß«—≈ ∂“πª√–°Õ∫°“√

∑’ËªØ‘∫—μ‘μ“¡¡“μ√°“√„π√“¬ß“π°“√«‘‡§√“–Àåº≈°√–∑∫ ‘Ëß·«¥≈âÕ¡·≈–¡’°“√®—¥°“√ ¿“æ·«¥≈âÕ¡¥’‡¥àπ ª√–®”ªï 2550

ª√–‡¿∑‚§√ß°“√æ≈—ßß“π ®“° ”π—°ß“ππ‚¬∫“¬·≈–·ºπ∑√—æ¬“°√∏√√¡™“μ‘·≈– ‘Ëß·«¥≈âÕ¡ °√–∑√«ß∑√—æ¬“°√

∏√√¡™“μ‘·≈– ‘Ëß·«¥≈âÕ¡ ‡¡◊ËÕ«—π∑’Ë 21 ∏—π«“§¡ 2550 ·≈–®“°°“√∑’Ë∫√‘…—∑¡’¡“μ√°“√·≈–°“√¥”‡π‘π°“√ªÑÕß°—π

º≈°√–∑∫μàÕ§ÿ≥¿“æ ‘Ëß·«¥≈âÕ¡∑’Ë¥’Õ¬à“ßμàÕ‡π◊ËÕß ∑”„Àâ∫√‘…—∑‰¡à¡’§«“¡‡ ’Ë¬ß¥â“πªí≠À“ ‘Ëß·«¥≈âÕ¡·≈–§«“¡

ª≈Õ¥¿—¬„π ∂“πª√–°Õ∫°“√ ∑’ËÕ“®‡ªìπ‡Àμÿ∑”„Àâ°“√ªØ‘∫—μ‘°“√¢Õß‚√ß‰øøÑ“¢Õß∫√‘…—∑μâÕßÀ¬ÿ¥™–ß—° À√◊ÕÕ“®¡’‡Àμÿ

μâÕß‡ ’¬§à“„™â®à“¬„π°“√ª√—∫ª√ÿß§ÿ≥¿“æ¢Õß ‘Ëß·«¥≈âÕ¡ Ÿß

37

The contract with Saha Pattana Inter-Holding PCL states that both parties will cooperate to solve any

problems resulting from changes in the laws, regulations and governmental policies and conditions in

the electricity and steam purchase agreement may be revised accordingly. Therefore, the risk on this

matter is fairly low.

ë Environmental and Safety RiskThe company has consistently monitored and controlled the environmental impact caused by itsoperation since the first day of operation and also received ISO 14001:2004 certification, the lateststandard, from the Management System Certification Institute (Thailand) (MASCI) on November 25,2005. The regularly submitted biannual reports on Environment Impact Assessment conducted bythe Eastern Thai Consulting 1992 Co., Ltd. had been reviewed by the Office of Natural Resourcesand Environmental Policy and Planning (ONEP), Department of Industrial Works, and the Officeof Chonburi Industry without any major negative comments. As the result of continually anddefinitely environmental control, the company was awarded as an outstanding enterprise in the powerindustry that implements the appropriate prevention and mitigative measure in compliance withthe Environment Impact Assessment in the EIA Monitoring Awards 2007 by the Office of NaturalResources and Environmental Policy and Planning, Ministry of Natural Resources and Environment onDecember 21, 2007. With such effective control of the environment, the company does not foresee anyenvironmental risks which may cause the company to suspend operation or to incur major cost forenvironmental control improvement.

38

°“√°”°—∫¥Ÿ·≈°‘®°“√

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www.sahacogen.com ‡æ◊ËÕ„Àâ√—∫∑√“∫·≈–‡ªìπ·π«∑“ß‡¥’¬«°—π„π°“√ªØ‘∫—μ‘μπ„π°“√¥”‡π‘π∏ÿ√°‘® ·≈–‡ªìπÀ≈—°¬÷¥∂◊Õ

„π°“√∑”ß“π

‡æ◊ËÕ„Àâ Õ¥§≈âÕß°—∫À≈—°°“√°”°—∫¥Ÿ·≈°‘®°“√∑’Ë¥’ ”À√—∫∫√‘…—∑®¥∑–‡∫’¬πªï 2549 ¢Õßμ≈“¥À≈—°∑√—æ¬å·Ààßª√–‡∑»‰∑¬

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πÕ°®“° ‘∑∏‘¢—Èπæ◊Èπ∞“π ∫√‘…—∑¬—ß¥”‡π‘π°“√„π‡√◊ËÕßμà“ßÊ ‚¥¬§”π÷ß∂÷ß ‘∑∏‘¢ÕßºŸâ∂◊ÕÀÿâπ ‰¡à≈‘¥√Õπ ‘∑∏‘ àß‡ √‘¡·≈–

Õ”π«¬§«“¡ –¥«°„π°“√„™â ‘∑∏‘¢ÕßºŸâ∂◊ÕÀÿâπ ¥—ßπ’È

1.1 ‘∑∏‘„π°“√√—∫∑√“∫¢âÕ¡Ÿ≈ ºŸâ∂◊ÕÀÿâπ¡’ ‘∑∏‘√—∫∑√“∫¢âÕ¡Ÿ≈Õ¬à“ß‡∑à“‡∑’¬¡°—π ‚¥¬∫√‘…—∑‰¥â‡º¬·æ√à∑—Èß¿“…“‰∑¬·≈–¿“…“

Õ—ß°ƒ…ºà“π™àÕß∑“ß¢Õßμ≈“¥À≈—°∑√—æ¬å·Ààßª√–‡∑»‰∑¬·≈–‡«Á∫‰´μå¢Õß∫√‘…—∑www.sahacogen.com ‡æ◊ËÕ„ÀâºŸâ∂◊Õ

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‘Èπ ÿ¥√Õ∫ªï∫—≠™’¢Õß∫√‘…—∑ ‚¥¬∫√‘…—∑‰¥â®—¥ª√–™ÿ¡ ≥ ∫¡®.‰Õ.´’.´’. Õ‘π‡μÕ√å‡π™—Ëπ·π≈ ‡≈¢∑’Ë 757/10 ´Õ¬ª√–¥Ÿà 1

∂ππ “∏ÿª√–¥‘…∞å ·¢«ß∫“ß‚æßæ“ß ‡¢μ¬“ππ“«“ °√ÿß‡∑æœ ‡ªìπª√–®”‡æ◊ËÕ‰¡à„ÀâºŸâ∂◊ÕÀÿâπ —∫ π ∑—Èßπ’È„πªï 2550

∫√‘…—∑‰¥â®—¥„Àâ¡’°“√ª√–™ÿ¡ “¡—≠ºŸâ∂◊ÕÀÿâπ§√—Èß∑’Ë 5 ‡¡◊ËÕ«—π∑’Ë 6 ¡’π“§¡ 2550

39

Corporate Governance

The Board of Directors of the Company places importance on the building of good governance andcarrying on business with transparency, integrity and accountability to performance, being competitiveand fair to all parties concerned, in order to create prosperity and add economic value and wealth toshareholders. Management of the Company is based on the good governance principles of the StockExchange of Thailand and Sufficiency Economy, namely moderation, reasonableness and good immunity, byrelying on knowledge, prudence and carefulness in planning and operation. At the same time all executivesand employees are encouraged to be ethical, honest, diligent, patient, and to share and use wisdom in theirconduct, in order to cope with economic, political, cultural and social changes for balanced and sustainablewell-being.

The Companyûs good governance statement comprises good governance policy, business ethics andcode of conduct. It passed approval by the Board of Directors of the Company on February 19, 2003 and itssuitability has been regularly reviewed. The Company considers its good governance policy, business ethicsand code of conduct to be appropriate to the present situation, and they have been circulated to thedirectors, executives and employees and publicized on the Companyûs website at www.sahacogen.com soas to be the uniform guideline for business conduct.

The Companyûs good governance statement has been divided into the following 5 chapters in line withthe good governance practice for listed companies of 2006 of the Stock Exchange of Thailand:

Chapter 1: Rights of ShareholdersShareholders have rights of ownership. The Companyûs good governance policy covers the protection

of rights of shareholders by recognizing and observing rights of ownership of shareholders. The Companyencourages shareholders to exercise their rights and treats every shareholder equally. The basic rightsof shareholders are purchase and sale or transfer of shares, sharing in profits, adequate access to newsand information of the Company, attendance of shareholdersû meeting to voice their opinion and participatein decision-making by voting at the shareholdersû meeting, e.g. election of the Companyûs directors,determination of remuneration of the Companyûs directors, appointment of auditor and approval of mattersaffecting the Company.

In addition to their basic rights, the Company also takes steps taking into account rights of shareholders,without impingement on their rights, and encourages and facilitates the exercise by shareholders of theirrights as follows:1.1 Right to information: Shareholders have equal right to information. The Company publicizes its

information in both Thai and English languages through the Stock Exchange of Thailand and on itswebsite at www.sahacogen.com. This will enable shareholders to receive information from the Companysuch as results of operations, connected transactions, purchase or sale of material assets, top 10shareholders of the Company on the date of close of shareholders register for annual general shareholdersûmeeting, minutes of shareholdersû meeting, which must be completed within 14 days from the date ofthe meeting, and essential information for decision-making by shareholders.

1.2 Right to attend shareholdersû meeting: The Company holds annual general shareholdersû meetingwithin 4 months from the last day of its fiscal year. The Company has, for ease of shareholders, regularlyheld such meeting at I.C.C. International Plc, No. 757/10 Soi Pradu 1, Sathupradit Road, Bangpongpang,Yannawa, Bangkok. In 2007, the Company held its annual shareholdersû meeting No. 5 on March 6, 2007.

40

ë °àÕπ«—πª√–™ÿ¡ºŸâ∂◊ÕÀÿâπ‚¥¬°àÕπ«—πª√–™ÿ¡ºŸâ∂◊ÕÀÿâπ ∫√‘…—∑‰¥â·®âß¡μ‘°”Àπ¥°“√ª√–™ÿ¡ºŸâ∂◊ÕÀÿâπ„Àâ ‰¥â∑√“∫≈à«ßÀπâ“∂÷ß 7 —ª¥“Àå°àÕπ

«—πª√–™ÿ¡ §◊Õ«—π∑’Ë 23 ¡°√“§¡ 2550 ‡æ◊ËÕ„ÀâºŸâ∂◊ÕÀÿâπ “¡“√∂®—¥‡«≈“„π°“√‡¢â“√à«¡ª√–™ÿ¡ ‚¥¬„πªï 2550 ¡’°“√

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√“¬«—πμ‘¥μàÕ°—π 3 «—π°àÕπ«—πª√–™ÿ¡‰¡àπâÕ¬°«à“ 3 «—π ‡æ◊ËÕ∫Õ°°≈à“«‡√’¬°ª√–™ÿ¡ºŸâ∂◊ÕÀÿâπ‡ªìπ°“√≈à«ßÀπâ“

‡æ’¬ßæÕ ”À√—∫°“√‡μ√’¬¡μ—«°àÕπ¡“‡¢â“√à«¡ª√–™ÿ¡ ‚¥¬„π«—πª√–™ÿ¡ºŸâ∂◊ÕÀÿâπ ∫√‘…—∑‰¥âÕ”π«¬§«“¡ –¥«°„Àâ

ºŸâ∂◊ÕÀÿâπÕ¬à“ß‡∑à“‡∑’¬¡°—π∑ÿ°√“¬ ‡æ◊ËÕ„ÀâºŸâ∂◊ÕÀÿâπ‰¥â„™â ‘∑∏‘„π°“√‡¢â“√à«¡ª√–™ÿ¡ºŸâ∂◊ÕÀÿâπ·≈–ÕÕ°‡ ’¬ßÕ¬à“ß‡μÁ¡∑’Ë

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

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

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

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

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

∑√“∫‰¥âÕ¬à“ß√«¥‡√Á«·≈–‚ª√àß„ √«¡∑—Èß®—¥„Àâ¡’°“√‡≈’È¬ß√—∫√Õß∑’Ë‡À¡“– ¡·°àºŸâ∂◊ÕÀÿâπ∑’Ë¡“√à«¡ª√–™ÿ¡¥—«¬

ë «—πª√–™ÿ¡ºŸâ∂◊ÕÀÿâπ

§≥–°√√¡°“√∫√‘…—∑„Àâ§«“¡ ”§—≠μàÕ°“√ª√–™ÿ¡ºŸâ∂◊ÕÀÿâπ ‚¥¬∂◊Õ‡ªìπÀπâ“∑’Ë∑’ËμâÕß‡¢â“√à«¡ª√–™ÿ¡¬°‡«âπªÉ«¬À√◊Õ

μ‘¥¿“√°‘® ”§—≠ „π°“√ª√–™ÿ¡ “¡—≠ºŸâ∂◊ÕÀÿâπ§√—Èß∑’Ë 5 ‡¡◊ËÕ«—π∑’Ë 6 ¡’π“§¡ 2550 ¡’°√√¡°“√∫√‘…—∑‡¢â“√à«¡

ª√–™ÿ¡®”π«π 11 ∑à“π °√√¡°“√∫√‘…—∑∑’Ë‰¡à “¡“√∂‡¢â“√à«¡ª√–™ÿ¡®”π«π 2 ∑à“π ‡π◊ËÕß®“°μ‘¥¿“√°‘® ”§—≠

πÕ°®“°π’È °√√¡°“√ºŸâ®—¥°“√ ºŸâ®—¥°“√ΩÉ“¬∫—≠™’ ºŸâ®—¥°“√ à«πªØ‘∫—μ‘°“√‚√ß‰øøÑ“ ºŸâ®—¥°“√‚§√ß°“√/«‘»«°√√¡

·≈–ºŸâ Õ∫∫—≠™’¢Õß∫√‘…—∑‰¥â‡¢â“√à«¡°“√ª√–™ÿ¡ºŸâ∂◊ÕÀÿâπ¥â«¬ ‡æ◊ËÕ„ÀâºŸâ∂◊ÕÀÿâπ “¡“√∂´—°∂“¡„π‡√◊ËÕß∑’Ë‡°’Ë¬«¢âÕß‰¥â

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

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

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

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

°“√ÕÕ°‡ ’¬ß≈ß¡μ‘·≈–‰¥â¥”‡π‘π°“√ª√–™ÿ¡„Àâ‡ªìπ‰ªμ“¡≈”¥—∫«“√–°“√ª√–™ÿ¡ ‰¡à¡’°“√‡æ‘Ë¡«“√–À√◊Õ‡ª≈’Ë¬π·ª≈ß

¢âÕ¡Ÿ≈ ”§—≠‚¥¬‰¡à‰¥â·®âß„ÀâºŸâ∂◊ÕÀÿâπ∑√“∫≈à«ßÀπâ“ ®—¥ √√‡«≈“„Àâ‡À¡“– ¡‡æ’¬ßæÕ ”À√—∫°“√π”‡ πÕª√–‡¥Áπ

μà“ßÊ ¢Õß·μà≈–«“√– ‡ªî¥‚Õ°“ „ÀâºŸâ∂◊ÕÀÿâπ´—°∂“¡·≈–· ¥ß§«“¡§‘¥‡ÀÁπ‰¥âÕ¬à“ß‡μÁ¡∑’Ë„π·μà≈–«“√– ´÷Ëß„πªï

∑’Ëºà“π¡“‰¡à¡’ºŸâ∂◊ÕÀÿâπ —́°∂“¡À√◊Õ· ¥ß§«“¡§‘¥‡ÀÁπ‡æ‘Ë¡‡μ‘¡·μàÀ“°ªï„¥¡’ºŸâ∂◊ÕÀÿâπ´—°∂“¡À√◊Õ· ¥ß§«“¡§‘¥‡ÀÁπ

‡æ‘Ë¡‡μ‘¡ §≥–°√√¡°“√∫√‘…—∑®–μÕ∫¢âÕ´—°∂“¡Õ¬à“ß™—¥‡®πμ√ßª√–‡¥Áπ ¡’°“√ √ÿªº≈°“√≈ß¡μ‘®“°°“√π—∫§–·ππ

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

41

ë Before the date of the shareholdersû meetingThe Company will notify the schedule of shareholdersû meeting 7 weeks before the date of meetingso that shareholders can arrange their time to attend the meeting. In 2007, the general annualshareholdersû meeting was held on March 6, 2007, and the notice of the meeting together with allmeeting documents with the same contents as those to be delivered to shareholders in a hard copywere publicized through the Companyûs website in Thai and English languages in advance, so thatshareholders could study them in advance before delivery of those documents on February 22,2007. At each agenda item there were facts and reasons as well as opinion of the Board ofDirectors together with supporting documents for the meeting, e.g. annual report, proxy form B,resume of persons nominated as directors, map of the meeting venue, directions on documents andevidences to be produced by shareholders in attending the meeting, the Companyûs articlesof association relating to the general annual shareholdersû meeting and meeting procedure. TheCompany authorized Thailand Securities Depository Co., Ltd., the Companyûs share registrar, todeliver them to shareholders 14 days before the date of the shareholdersû meeting, so thatshareholders who were not able to attend the meeting in person could authorize other or anindependent director indicated in the proxy form stipulated by the Ministry of Commerce to attendand vote on behalf of the shareholders. Announcement was also made in a daily newspaper for 3consecutive days not less than 3 days prior to the date of the meeting to inform shareholders sothat they have sufficient time to prepare themselves for the meeting. On the date of the shareholdersûmeeting, the Company facilitated all shareholders equally so that they could fully exercise theirrights to attend the shareholdersû meeting and vote, with the date, time and place of meeting notbeing an obstacle to attending the meeting. Adequate personnel were also provided to facilitate theregistration of the meeting and registration was commenced for not less than 2 hours prior to thetime of the meeting. Shareholders who attended the meeting after the meeting had commencedwere allowed to vote on the agenda items not yet considered, and their presence was countedas part of the quorum since the agenda item on which voting was made. The Company usedbarcode system to count the votes cast on each agenda item and the results were announced toshareholders promptly and transparently. Appropriate catering was provided to shareholdersattending the meeting.

ë The date of shareholdersû meetingThe Companyûs directors place importance on shareholdersû meeting and it is considered as theirduty to attend the meeting except in case of illness or important engagement. At the general annualshareholdersû meeting No. 5 held on March 6, 2007, eleven directors were present. Two directorswho were unable to be present were engaged in important business. In addition, the ManagingDirector, Accounting Manager, Power Plant Operation Manager, Project/Engineering Manager andauditor also attended the shareholdersû meeting so as to answer the shareholdersû questions.

At each shareholdersû meeting, the company would report its results of operations, rate of dividend,consideration of and voting on matters required by law and articles of association. At thebeginning of the meeting, the assistant secretary to the Board reported the number/proportion ofshareholders attending the meeting. Then the Chairman of the Board declared the meetingconvened and presided over the meeting. He explained rules applicable to the meeting andprocedure of voting, and conducted the meeting in accordance with the agenda, without addingagenda items or changing essential information without prior notice to shareholders. Appropriateand adequate time was allocated for discussion of issues of each agenda item. The shareholderswere provided with an opportunity to ask questions and comment on each agenda item. At lastyearûs meeting no shareholder asked question or commented. However, if in any year shareholdersasked questions or commented, the directors would clearly and precisely answer their questions.Result of voting at each agenda item would be concluded and presented to shareholders.

42

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

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§≥–°√√¡°“√ √√À“

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

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ë À≈—ß«—πª√–™ÿ¡ºŸâ∂◊ÕÀÿâπ

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∫√‘…—∑ °àÕπ≈ßπ“¡„π∞“π–ª√–∏“π∑’Ëª√–™ÿ¡ ·≈–‰¥â àß„Àâμ≈“¥À≈—°∑√—æ¬å·Ààßª√–‡∑»‰∑¬·≈– ”π—°ß“π

§≥–°√√¡°“√°”°—∫À≈—°∑√—æ¬å·≈–μ≈“¥À≈—°∑√—æ¬å æ√âÕ¡∑—Èß‡º¬·æ√à∫π‡«Á∫‰´μå¢Õß∫√‘…—∑¿“¬„π 14 «—π

π—∫®“°«—πª√–™ÿ¡ºŸâ∂◊ÕÀÿâπ∑—Èß¿“…“‰∑¬·≈–¿“…“Õ—ß°ƒ… ‡æ◊ËÕ‡ªìπ™àÕß∑“ß„ÀâºŸâ∂◊ÕÀÿâπ “¡“√∂μ√«® Õ∫¢âÕ¡Ÿ≈‰¥â

‚¥¬‰¡à®”‡ªìπμâÕß√Õ„Àâ∂÷ß°“√ª√–™ÿ¡§√—ÈßμàÕ‰ª æ√âÕ¡∑—Èßπ” àß°√–∑√«ßæ“≥‘™¬å¿“¬„π‡«≈“∑’Ë°ÆÀ¡“¬°”Àπ¥

À¡«¥∑’Ë 2 ‡√◊ËÕß°“√ªØ‘∫—μ‘μàÕºŸâ∂◊ÕÀÿâπÕ¬à“ß‡∑à“‡∑’¬¡°—π∫√‘…—∑„Àâ§«“¡‡§“√æμàÕ ‘∑∏‘·Ààß§«“¡‡ªìπ‡®â“¢Õß¢ÕßºŸâ∂◊ÕÀÿâπ ‚¥¬ªØ‘∫—μ‘μàÕºŸâ∂◊ÕÀÿâπ∑ÿ°√“¬Õ¬à“ß‡∑à“‡∑’¬¡°—π ºŸâ∂◊ÕÀÿâπ

∑ÿ°√“¬¡’ ‘∑∏‘·≈–§«“¡‡∑à“‡∑’¬¡°—π ¥—ßπ’È

1) „π°“√ª√–™ÿ¡ºŸâ∂◊ÕÀÿâπ À“°‡ªìπºŸâ∂◊ÕÀÿâπμà“ß™“μ‘Àπ—ß ◊Õ∫Õ°°≈à“«π—¥ª√–™ÿ¡ √«¡∑—Èß‡Õ° “√ª√–°Õ∫°“√ª√–™ÿ¡·≈–√“¬ß“π

°“√ª√–™ÿ¡ ®–¡’°“√·ª≈‡ªìπ¿“…“Õ—ß°ƒ…·≈–®—¥ àß‰ªæ√âÕ¡°—∫™ÿ¥¿“…“‰∑¬ À√◊Õ “¡“√∂¥Ÿ‰¥â®“°‡«Á∫‰´¥å¢Õß∫√‘…—∑

´÷Ëß¡’∑—Èß¿“…“‰∑¬·≈–Õ—ß°ƒ… ‡æ◊ËÕ„ÀâºŸâ∂◊ÕÀÿâπ∑ÿ°§π¡’ à«π√à«¡„π°“√æ‘®“√≥“·≈–ÕÕ°‡ ’¬ß≈ß§–·ππ„π°‘®°“√μà“ßÊ

¢Õß∫√‘…—∑μ“¡√–‡∫’¬∫«“√–°“√ª√–™ÿ¡ À“°ºŸâ∂◊ÕÀÿâπ‰¡à “¡“√∂‡¢â“√à«¡ª√–™ÿ¡ “¡“√∂¡Õ∫©—π∑–„Àâ∫ÿ§§≈„¥∫ÿ§§≈Àπ÷Ëß

À√◊Õ°√√¡°“√μ√«® Õ∫ ÷́Ëß‡ªìπ°√√¡°“√Õ‘ √–¢Õß∫√‘…—∑§π„¥§πÀπ÷Ëß‡¢â“ª√–™ÿ¡·∑π‡æ◊ËÕ‡ªìπμ—«·∑π√—°…“ ‘∑∏‘¢Õßμπ

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

π—¥ª√–™ÿ¡‡æ◊ËÕ„ÀâºŸâ∂◊ÕÀÿâπ‰¥â„™â¢âÕ¡Ÿ≈¥—ß°≈à“« „π°√≥’∑’Ëª√– ß§å®–‡≈◊Õ°°√√¡°“√μ√«® Õ∫‡ªìπºŸâ√—∫¡Õ∫©—π∑–À√◊Õ

“¡“√∂¥Ÿ¢âÕ¡Ÿ≈‡°’Ë¬«°—∫°√√¡°“√μ√«® Õ∫∑—Èß 4 §π ‰¥â„π√“¬ß“πª√–®”ªï∑’Ë‰¥â àß‰ªæ√âÕ¡Àπ—ß ◊Õ∫Õ°°≈à“«π—¥ª√–™ÿ¡

43

Important agenda items of the shareholdersû meeting include:(1) Appointment of directors: The company allows shareholders to elect directors individually,

with data of persons nominated for election and their holding of positions in other businessesin cases where they are directors in a company operating business of the same nature as, andcompetitive to, the companyûs business, as well as details of the Board of Directors meetingregarding the nominated persons who have been screened by the Board of Directors as thecompany has not yet appointed a selection committee.

(2) Determination of remuneration of directors: The company proposes the remuneration forapproval by the shareholdersû meeting every year based on the results of its operations,amount of remuneration paid in the previous year, and the authorities and responsibilities ofthe Board of Directors. The Board of Directors would consider the said remuneration beforeproposing it to the shareholders for approval because the company has not yet appointed aremuneration committee.

(3) Appointment of auditor and fixing of audit fee: The company will report to the shareholdersfor approval information on the auditor, audit firm, independence and number of years ofperforming audit for the company, comparison between audit fee of the current year and theprevious yearûs, proposed audit fee that has passed deliberation by the Audit Committee, andother charges for services by the audit firm of the auditor.

(4) Payment of dividend: The company will report its dividend policy, actual amount paidcompared to that under the policy, and comparison between the dividend paid in the currentyear with that of the previous year.

ë After the date of the shareholdersû meetingAfter the date of the shareholdersû meeting, the company will prepare minutes of the annualgeneral meeting stating the names of directors present/absent, cause of their absence, materialexplanations, questions and answers or comments in summary (if any). In the past year there wasno shareholder asking question or commenting. Details for each agenda item will reflect the realityat the meeting. Results of voting at each agenda item will be classified as voting for, voting againstand abstention. The said minutes will be reviewed by the Executive Board and the Chairman of theBoard before signing by the chairman of the meeting, and they will be sent to the Stock Exchangeof Thailand and the Office of the Securities and Exchange Commission and publicized on thecompanyûs website within 14 days from the date of the shareholdersû meeting in Thai and Englishlanguages, so that the shareholders can examine them without waiting until the next meeting. Theywill also be submitted to the Ministry of Commerce within the period required by law.

Chapter 2: Equal Treatment of ShareholdersThe company respects the right of ownership of shareholders and treats every shareholder equally.

Every shareholder has equal rights as follows:1) Shareholdersû meeting: For foreign shareholders, the notice of meeting, meeting documents and

minutes will be translated into English and delivered together with the Thai version or they can beviewed through the companyûs website in both Thai and English languages, so that all shareholders canconsider and vote on the affairs of the company according to the agenda. If a shareholder is unable toattend the meeting, he or she can appoint a proxy or a member of the Audit Committee, who is anindependent director of the company, to attend the meeting as representative to preserve his or herrights. The company has indicated the name, address and interest of each of the 4 members of the AuditCommittee in the agenda of the notice so that shareholders can use such information in case he or shewishes to select a member of the Audit Committee as his or her proxy, and the information on the 4

44

‚¥¬„™âÀπ—ß ◊Õ¡Õ∫©—π∑–∑’Ë∫√‘…—∑ ·π∫‰ªæ√âÕ¡°—∫Àπ—ß ◊Õ∫Õ°°≈à“«π—¥ª√–™ÿ¡ ´÷Ëß‡ªìπ ·∫∫ ¢. ‡æ◊ËÕ π—∫ πÿπ„ÀâºŸâ∂◊ÕÀÿâπ

„™âÀπ—ß ◊Õ¡Õ∫©—π∑–∑’Ë “¡“√∂°”Àπ¥∑‘»∑“ß°“√≈ß§–·ππ‡ ’¬ß‰¥â À√◊Õ “¡“√∂ Download Àπ—ß ◊Õ¡Õ∫©—π∑–∑’Ë‰¥â

®—¥∑” ·≈–ªØ‘∫—μ‘μ“¡ª√–°“»¢Õß°√–∑√«ßæ“≥‘™¬å®“°‡«Á∫‰´μå¢Õß∫√‘…—∑ ́ ÷Ëß¡’ 3 ·∫∫ §◊Õ ·∫∫ °. ·∫∫ ¢. ·≈–·∫∫

§. ‚¥¬ “¡“√∂‡≈◊Õ°Àπ—ß ◊Õ¡Õ∫©—π∑–·∫∫„¥·∫∫Àπ÷Ëß πÕ°®“°π—Èπ∫√‘…—∑‰¥â®—¥„Àâ¡’Õ“°√· μ¡ªá‡æ◊ËÕÕ”π«¬§«“¡ –¥«°

·°àºŸâ∂◊ÕÀÿâπ∑’Ë¡Õ∫©—π∑– ´÷Ëß„πªï 2550 ∫√‘…—∑®—¥„Àâ¡’°“√ª√–™ÿ¡ “¡—≠ºŸâ∂◊ÕÀÿâπ§√—Èß∑’Ë 5 „π«—π∑’Ë 6 ¡’π“§¡ 2550 ‰¥â¡’

ºŸâ∂◊ÕÀÿâπ‡¢â“√à«¡ª√–™ÿ¡∑—ÈßÀ¡¥ 90 ∑à“π ∂◊ÕÀÿâπ√«¡ 775,117,800 Àÿâπ §‘¥‡ªìπ 81.27% ‚¥¬¡’ºŸâ∂◊ÕÀÿâπ∑’Ë‰¥â¡Õ∫©—π∑–

„Àâ°√√¡°“√μ√«® Õ∫ ÷́Ëß‡ªìπ°√√¡°“√Õ‘ √–∑’Ë∫√‘…—∑‡ πÕ„Àâ‡ªìπºŸâ√—∫¡Õ∫©—π∑–‡ªìπºŸâÕÕ°‡ ’¬ß·∑π®”π«π 1 ∑à“π

´÷Ëß∂◊ÕÀÿâπ√«¡ 25,000 Àÿâπ

(2) °“√°”Àπ¥ ‘∑∏‘ÕÕ°‡ ’¬ß„π∑’Ëª√–™ÿ¡ ‡ªìπ‰ªμ“¡®”π«πÀÿâπ∑’ËºŸâ∂◊ÕÀÿâπ∂◊ÕÕ¬Ÿà ‚¥¬Àπ÷ËßÀÿâπ¡’ ‘∑∏‘‡∑à“°—∫Àπ÷Ëß‡ ’¬ß∫√‘…—∑

¥”‡π‘π°“√ª√–™ÿ¡μ“¡≈”¥—∫√–‡∫’¬∫«“√–°“√ª√–™ÿ¡ ‰¡à‡æ‘Ë¡«“√–°“√ª√–™ÿ¡ À√◊Õ‡ª≈’Ë¬π·ª≈ß¢âÕ¡Ÿ≈ ”§—≠‚¥¬‰¡à‰¥â

·®âß„ÀâºŸâ∂◊ÕÀÿâπ∑√“∫≈à«ßÀπâ“

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

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

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

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

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

≈ßπ“¡‡°Á∫‰«â‡ªìπÀ≈—°∞“π ‡æ◊ËÕ§«“¡‚ª√àß„ ·≈–μ√«® Õ∫‰¥â ·≈–∫√‘…—∑ ‰¥â„™â√–∫∫ Barcode ¡“™à«¬„π°“√

π—∫§–·ππ·≈–· ¥ßº≈∫πÀπâ“®Õ∑’ËÕ¬Ÿà„πÀâÕßª√–™ÿ¡∑—π∑’ ºŸâ∂◊ÕÀÿâπ∑ÿ°∑à“π “¡“√∂∑√“∫§–·ππ„π·μà≈–«“√–

«à“¡’ºŸâ‡ÀÁπ¥â«¬ ‰¡à‡ÀÁπ¥â«¬·≈–ß¥ÕÕ°‡ ’¬ß‰ªæ√âÕ¡°—π

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

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

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

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

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

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

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

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

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

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

·≈–æπ—°ß“π ÷́ËßÕ¬Ÿà„πÀπà«¬ß“π∑’Ë√—∫∑√“∫¢âÕ¡Ÿ≈¿“¬„π∑”°“√ ◊́ÈÕÀ√◊Õ¢“¬À≈—°∑√—æ¬å¢Õß∫√‘…—∑„π™à«ß 1 ‡¥◊Õπ

°àÕπ°“√‡ªî¥‡º¬ß∫°“√‡ß‘π·°à “∏“√≥™π πÕ°®“°π—Èπ¬—ß°”Àπ¥„Àâ°√√¡°“√∫√‘…—∑·≈–ºŸâ∫√‘À“√ (√«¡∑—Èß§Ÿà ¡√

·≈–∫ÿμ√∑’Ë¬—ß‰¡à∫√√≈ÿπ‘μ‘¿“«–) ∑’Ë¡’Àπâ“∑’Ë√“¬ß“π°“√∂◊Õ§√ÕßÀ≈—°∑√—æ¬å À“°¡’°“√´◊ÈÕ¢“¬Àÿâπ¢Õß∫√‘…—∑ μâÕß·®âß

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

‡æ◊ËÕ√“¬ß“πμàÕ§≥–°√√¡°“√∫√‘…—∑„π°“√ª√–™ÿ¡§≥–°√√¡°“√∫√‘…—∑§√—ÈßμàÕ‰ª ´÷Ëß„π°“√ª√–™ÿ¡§≥–°√√¡°“√

∫√‘…—∑∑ÿ°§√—Èß ®–¡’«“√–°“√∂◊ÕÀ≈—°∑√—æ¬å∫√‘…—∑¢Õß°√√¡°“√∫√‘…—∑ ·≈–ºŸâ∫√‘À“√ ´÷Ëß°√√¡°“√∫√‘…—∑ ºŸâ∫√‘À“√

√Ÿâ«à“‡ªìπÀπâ“∑’Ë∑’Ë®–μâÕßªØ‘∫—μ‘·≈–¥”‡π‘π°“√μ“¡∑’Ë°”Àπ¥ πÕ°®“°π—ÈπÀ“°¡’°“√‡ª≈’Ë¬π·ª≈ß‡°’Ë¬«°—∫‡√◊ËÕß¥—ß°≈à“«

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

°√√¡°“√°”°—∫À≈—°∑√—æ¬å·≈–μ≈“¥À≈—°∑√—æ¬å„π‡√◊ËÕß¥—ß°≈à“«

45

members of the Audit Committee is available in the annual report delivered together with the notice ofthe meeting. The shareholder can use the form of proxy attached to the notice, which is form B, toencourage shareholders to vote. The form can also be downloaded from the companyûs website. Thereare 3 forms, i.e. forms A, B and C, prepared in compliance with the notification of the Ministry of Commerce.Any one form of proxy can be chosen. The company also provides duty stamps for shareholdersappointing proxies. In 2007, the company held the annual general shareholdersû meeting No. 5 on March6, 2007. There were a total of 90 shareholders attending the meeting, representing 775,117,800 shares or81.27%. 1 shareholder authorized a member of the Audit Committee, who is an independent directorproposed by the company as a proxy, to vote, and this shareholder held 25,000 shares.

2) Right to vote at the meeting: The voting right is in accordance with the number of shares held by ashareholder with one share having one vote. The meeting is conducted in order of the agenda items. Noagenda items are added or changed without prior notice to shareholders.2.1 Voting at each agenda item is made openly: Ballots are provided for shareholders for every agenda

item. Counting of votes will be made for only those who vote against and/or abstain from voting, andthese votes will be deducted from the total votes of shareholders present. The rest will be deemed asvotes cast for. Accordingly, if at an agenda item, there is any shareholder who votes against orabstains from voting, a score signboard received upon registration will be shown. The signboard willindicate the name of the shareholder present, number of shares held or represented and barcode. Theperson in charge will bring the ballot to such shareholder for signing as evidence for transparency andexamination afterwards. The company uses barcode to help in counting votes and displays the resultpromptly on the screen in the conference room. All shareholders can simultaneously know the votesfor each agenda item classified as voting for, voting against and abstention.

2.2 Supervision of use of internal information: The company has internal information supervisionmeasures, which are provided in its ethics toward the company and shareholders and in the codeof conduct for directors, executives and employees so that they will perform duties with integrity,responsibility, disciplines and accountability to the public and themselves, without abuse of theirpositions or functions for undue benefit for themselves and/or others. They are also required topreserve the interest and assets of the company, without use of the companyûs information andassets for their own and/or othersû benefit. No act may be done to support any other person to dobusiness in competition with the company. The company has announced the same to its directors,executives and employees as a guideline for their business conduct and performance, and this isalso publicized on the companyûs website.

In the companyûs work rules, the said matter is also covered with highest disciplinary measure, i.e.termination of employment. The companyûs directors, executives and employees have performed asstipulated.

2.3 Inclusion of trading of the companyûs securities in its code of conduct: The company prohibits itsdirectors, executives and employees who are in the departments in which they may be aware ofinternal information, from trading the companyûs securities during the period of one month beforedisclosure of its financial statements to the public. In addition, the companyûs directors andexecutives (including their spouse and minor children) are required to report their securities holding.In case of trading of the companyûs shares, they must notify the Office of the Securities andExchange Commission, with copy to the Secretary to the Board of Directors of the company, sothat the same will be reported to the Board of Directors at the next Board of Directors meeting. Ateach Board of Directors meeting, there is an agenda item on holding of the companyûs securities bydirectors and executives, who know that they are required to comply with the applicable rules. Inaddition, if there is any change in this matter, the company will send a letter notifying the directorsand executives of the same, with copy of letter and notification of the Securities and ExchangeCommission regarding the said matter.

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

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

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

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

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

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

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

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

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

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

§«“¡ —¡æ—π∏å¢Õß∫ÿ§§≈∑’Ë‡°’Ë¬«‚¬ß °“√°”Àπ¥√“§“ ¡Ÿ≈§à“¢Õß√“¬°“√ ·≈–°√√¡°“√∫√‘…—∑∑’Ë¡’§«“¡‡ÀÁπμà“ß®“°

§«“¡‡ÀÁπ¢Õß§≥–°√√¡°“√∫√‘…—∑ (À“°¡’) μàÕμ≈“¥À≈—°∑√—æ¬å·Ààßª√–‡∑»‰∑¬μ“¡‡«≈“∑’Ë°”Àπ¥·≈–‰¥â‡º¬·æ√à

∫π‡«Á∫‰´μå¢Õß∫√‘…—∑Õ’°∑“ßÀπ÷Ëß‡æ◊ËÕ„Àâ‡°‘¥§«“¡‚ª√àß„ √«¡∑—Èß¡’°“√∫—π∑÷°‰«â„π√“¬ß“π°“√ª√–™ÿ¡ “¡“√∂

μ√«® Õ∫‰¥â

À¡«¥∑’Ë 3 ‡√◊ËÕß∫∑∫“∑¢ÕßºŸâ¡’ à«π‰¥â‡ ’¬∫√‘…—∑„Àâ§«“¡ ”§—≠μàÕ°“√§”π÷ß∂÷ßª√–‚¬™πå¢ÕßºŸâ¡’ à«π‰¥â‡ ’¬°≈ÿà¡μà“ßÊ ‚¥¬¥”‡π‘π∏ÿ√°‘®¥â«¬§«“¡√—∫º‘¥™Õ∫·≈–

‡ªìπ∏√√¡μàÕºŸâ¡’ à«π‡°’Ë¬«¢âÕß∑ÿ°ΩÉ“¬ ¡ÿàß¡—Ëπ„π°“√æ—≤π“°‘®°“√¢Õß∫√‘…—∑„Àâ‡®√‘≠°â“«Àπâ“ ¡—Ëπ§ßÕ¬à“ß¬—Ëß¬◊π “¡“√∂ √â“ß

º≈μÕ∫·∑π·°àºŸâ∂◊ÕÀÿâπÕ¬à“ß‡À¡“– ¡ ª°ªÑÕßº≈ª√–‚¬™πå·≈–¥Ÿ·≈∑√—æ¬å ‘π¢Õß∫√‘…—∑‡ ¡◊Õπ«‘≠êŸ™πæ÷ß√—°…“∑√—æ¬å ‘π

¢Õßμπ ®÷ß¡—Ëπ„®«à“ºŸâ¡’ à«π‰¥â‡ ’¬°≈ÿà¡μà“ßÊ ®–‰¥â√—∫°“√¥Ÿ·≈Õ¬à“ß‡ªìπ∏√√¡∑ÿ°ΩÉ“¬ ·≈–‰¥â°”Àπ¥‡ªìπ·π«∑“ßªØ‘∫—μ‘‰«â

„π§Ÿà¡◊Õ®√‘¬∏√√¡∏ÿ√°‘® ”À√—∫ºŸâ∫√‘À“√·≈–æπ—°ß“π

ºŸâ∂◊ÕÀÿâπ

∫√‘…—∑‡§“√æμàÕ ‘∑∏‘¢—Èπæ◊Èπ∞“π¢ÕßºŸâ∂◊ÕÀÿâπμ“¡∑’Ë°”Àπ¥‰«â‚¥¬°ÆÀ¡“¬ ¢âÕ∫—ß§—∫·≈–®√√¬“∫√√≥¢Õß∫√‘…—∑‚¥¬ªØ‘∫—μ‘

μàÕºŸâ∂◊ÕÀÿâπ∑ÿ°√“¬Õ¬à“ß‡∑à“‡∑’¬¡°—π ∫√‘…—∑¡’°≈‰°∑’Ë∑”„ÀâºŸâ∂◊ÕÀÿâπ¡’§«“¡‡™◊ËÕ¡—Ëπ«à“®–‰¥â√—∫¢âÕ¡Ÿ≈∑’Ë∂Ÿ°μâÕß·≈–º≈μÕ∫·∑π

∑’Ë‡À¡“– ¡ °“√√—∫º≈μÕ∫·∑πÕ¬à“ß‡ªìπ∏√√¡μ“¡π‚¬∫“¬°“√®à“¬‡ß‘πªíπº≈¢Õß∫√‘…—∑ ¡’°“√§«∫§ÿ¡°“√∑”√“¬°“√√–À«à“ß°—π

¡’¡“μ√°“√ªÑÕß°—π°“√¢—¥·¬âß∑“ßº≈ª√–‚¬™πå ªÑÕß°—π°“√„™â¢âÕ¡Ÿ≈¿“¬„π‡°’Ë¬«°—∫¢à“« “√∑’Ë‡ªìπ§«“¡≈—∫ ·≈–Àâ“¡°√√¡°“√

ºŸâ∫√‘À“√ ·≈–ºŸâªØ‘∫—μ‘ß“π∑’Ë√—∫∑√“∫¢âÕ¡Ÿ≈¿“¬„π ‰¡à„Àâπ”¢âÕ¡Ÿ≈¿“¬„π¢Õß∫√‘…—∑‰ª„™â‡æ◊ËÕª√–‚¬™πå à«πμπ √«¡∑—Èß‡æ◊ËÕ

°“√ ◊́ÈÕ¢“¬À≈—°∑√—æ¬å¢Õß∫√‘…—∑‚¥¬‡©æ“–„π™à«ß 1 ‡¥◊Õπ°àÕπ‡º¬·æ√àß∫°“√‡ß‘π·°à “∏“√≥™π ´÷Ëß‰¥â√–∫ÿ·π«ªØ‘∫—μ‘‰«â„π

®√√¬“∫√√≥æπ—°ß“π

„πªï 2550 ∫√‘…—∑‰¥â¡’°“√®à“¬‡ß‘πªíπº≈®“°º≈ª√–°Õ∫°“√ªï 2549 „πÕ—μ√“ 0.30 ∫“∑μàÕÀÿâπ §‘¥‡ªìπÕ—μ√“°“√®à“¬‡ß‘π

ªíπº≈√âÕ¬≈– 77.64 ¢Õß°”‰√ ÿ∑∏‘¢Õßß∫°“√‡ß‘π‡©æ“–°‘®°“√ ‚¥¬°”Àπ¥®à“¬„π«—π∑’Ë 15 ¡’π“§¡ 2550 π—∫‡ªìπ®à“¬‡ß‘πªíπº≈

„Àâ°—∫ºŸâ∂◊ÕÀÿâπ¢Õß∫√‘…—∑Õ¬à“ßμàÕ‡π◊ËÕß∑ÿ°ªï ´÷Ëß∂◊Õ‡ªìπ°“√ √â“ß§«“¡¡—Ëß§—Ëß„π√–¬–¬“«„Àâ·°àºŸâ∂◊ÕÀÿâπÕ¬à“ß·∑â®√‘ß πÕ°®“°π’È

∫√‘…—∑¬—ß‰¥â√“¬ß“πº≈°“√¥”‡π‘πß“π¢Õß°‘®°“√‡ªìπª√–®”∑ÿ°‰μ√¡“ ·≈–‡ªî¥‡º¬°“√∑”√“¬°“√°—∫∫ÿ§§≈∑’Ë‡°’Ë¬«‚¬ß„π

‡ß◊ËÕπ‰¢∑’Ë‡ ¡◊Õπ∑”°—∫∫ÿ§§≈¿“¬πÕ°„Àâ√—∫∑√“∫ºà“π√–∫∫¢à“«¢Õßμ≈“¥À≈—°∑√—æ¬åœ ·≈–‡«Á∫‰´μå¢Õß∫√‘…—∑Õ’°¥â«¬

47

During the past year, the directors and executives of the company have strictly complied with thesaid policy. There was no trading of shares during the prohibition period. There were 2 directors andexecutives who traded the companyûs securities and they have notified the Office of the Securitiesand Exchange Commission of the same within the required period and have reported their securi-ties holding to the Board of Directors of the company.

2.4 Conflict of interest: The company carries on business with prudence, reasonableness, taking intoaccount the best interest of the company. Pricing is made on the fair commercial terms as if it werea transaction made with a third party, with the practice in the said matter with transparency and incompliance with the rules of the Stock Exchange of Thailand. This is stipulated as one policy ingood governance and is also provided in the ethics required for treatment of the company andshareholders. Information is disclosed to provide equal opportunity of access to information. Forexample, for a connected transaction, the company has complied with the notification of the StockExchange of Thailand regarding disclosure of information and practice of a listed company in aconnected transaction. The company also requires that interested directors leave the conferenceroom and abstain from voting on that agenda item so that the uninterested directors can fullyprovide their opinion and be independent in voting. The Secretary to the Board of Directors willnotify the meeting that for that agenda item, which directors who have an interest must leave theconference room. Upon completion of the meeting, the name, relationship of the connected person,pricing, value of transaction, and directors who have dissenting opinion from that of the Board ofDirectors (if any) will be disclosed to the Stock Exchange of Thailand within the period required andthe same will be publicized on the companyûs website for the sake of transparency. The same willalso be recorded in the minutes of meeting for examination afterwards.

Chapter 3: Roles of StakeholdersThe company places importance on the interests of various stakeholders, by carrying on its business

with accountability and fairness to all parties concerned. The company is committed to developing itsbusiness to achieve prosperity and sustainable growth, appropriately generating return to shareholders andprotecting the companyûs interest and assets as if a reasonable man would do to preserve his own assets.This ensures that all stakeholders will be treated fairly, and the same is provided in the code of conduct forexecutives and employees.

ShareholdersThe company respects the basic rights of shareholders as provided by law, articles of association, and

code of conduct of the company, by treating all shareholders equally. The company has set up mechanism bywhich the shareholders can be confident that they will receive accurate information and appropriate return, fairreturn according to the companyûs dividend policy. There are control of inter-transactions, conflict of interestprevention measures, prevention of use of internal information that is confidential. No directors, executives andemployees who are aware of internal information may use the companyûs internal information for their ownbenefit including trading of the companyûs securities during the period of 1 month prior to disclosure of itsfinancial statements to the public. This is also stipulated in the code of conduct of employees.

In 2007, the company paid dividend from its operation of 2006 at the rate of Baht 0.30 per share,accounting for 77.64% of its net profits of its own financial statements. The dividend was scheduled to bepaid on March 15, 2007. Dividend is paid to shareholders continuously every year, truly generating long-termwealth to shareholders. In addition, the company reports its results of operations on a quarterly basis anddiscloses transactions with connected persons on the terms as if made with a third party through the reportsystem of the Stock Exchange of Thailand and the companyûs website.

48

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‡™àπ ®—¥„Àâ¡’ÀâÕß ¡ÿ¥ °“√μ√«® ÿ¢¿“æª√–®”ªï §à“√—°…“æ¬“∫“≈ °“√ª√–°—π ÿ¢¿“æ °“√®—¥°“√·¢àß¢—π°’Ã“ª√–®”ªï¿“¬„π

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√à«¡¡◊Õ°—∫∏π“§“√Õ“§“√ ß‡§√“–Àå„πÕ—μ√“¥Õ°‡∫’È¬μË” ‡ªìπμâπ

§Ÿà·¢àß∑“ß°“√§â“

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49

CustomersThe company carries on business with integrity and fairness and provides accurate information to its

customers. Complaints of customers are paid attention to and dealt with fairly to promptly response to thedemands of the customers. Goods and services are developed to meet the demands of customers.

Commercial partnersThe company adheres to commercial terms and conditions within the framework of good faith and fair

competition. The company strictly keeps its promises to its commercial partners. They will be paid, receivegoods as agreed punctually and are treated equally. The company promotes good relationship andunderstanding with them, exchanges knowledge, and cooperates with them in developing goods andservices to add value to them. The company does not demand, receive or agree to receive property or anyother benefit beyond commercial agreement.

CreditorsThe company strictly adheres to commitment to its creditors. In the past year, the company paid its

commercial creditors according to the credit terms agreed, without any default.

EmployeesThe company places importance on development of its personnel, recognizing that employees are a

valuable resource and are key to the organizationûs success. The company therefore commits to encouragingtraining, developing knowledge and skill of all employees so as to found the basis to support the companyûsimportant business strategies continuously. This will create security in their career and progress according toeach personûs potential. The company also sends its employees to study from its commercial partners, localand abroad, so that its personnel are competitive in any situation. The employees are also encouraged toparticipate in setting direction for operation and development. The company provides compensation withfairness and appropriately to knowledge, capability, responsibility and performance of each employee.(Details of implementation of this policy are disclosed in Section 9.6.2 çPersonnel Development Policyéin Form 56-2.)

The company takes care of working environment, taking into account safety to life, health and propertyof employees by stipulating the policy on safety, occupational health and working environment. The safety,occupational health and working environment committee and safety, occupational health and workingenvironment section are established to oversee this aspect to ensure efficiency with regular monitoring. In2007, the company provided training on çWork Safety Awarenessé and çBasic Fire-Fighting and Evacuationécourses and conducted fire drill so that employees had knowledge and understanding of appropriatepractice. The company also distributes information and knowledge concerning safety to employees throughexhibition and the companyûs intranet regularly. At the same time, the company also regularly inspects safetyand environment within its factory, and provides safety tools, appliances and equipment for employees incase of emergency. In addition, the company provides welfare to employees to promote their quality of lifeand well-being, e.g. library, annual physical check-up, medical expenses, health insurance, annual internalsports, uniform for employees, provident fund, housing loans with low interest rate in cooperation with theGovernment Housing Bank.

CompetitorsThe company carries on business strictly within good faith and fair competition scope within legal

framework. The company has never had any dispute involving its competitors.

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Communities and societyThe company recognizes its responsibility to communities and society by raising awareness of

responsibility to communities and society in the company continuously and promotes activities that benefitcommunities and society as a whole.

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

In the past year, the company was awarded the EIA Monitoring Award 2007for an outstanding enterprise inpower industry conforming to the measures in the environmental impact analysis and outstandingenvironmental management for the year 2007 from the Office of Natural Resources and Environmental Policyand Planning, Ministry of Natural Resources and the Environment, on December 21, 2007.

However, if shareholders or any stakeholderss have any concerns about the accuracy of the financialstatements, defective internal control, legal offense or misconduct, they can contact the Managing Director attel. 038-4815555 or fax 038-481551 or email [email protected] or the Secretary to the Audit Committee,who reports directly to the Audit Committee, at tel. 038-481555 or email [email protected], orChairman of the Audit Committee at tel. 038-481555 or fax 038-481551. Results of investigation will bereported to the Board of Directors of the company. Those making report or complaint will be strictly keptconfidential. In 2007, there was no complaint from any shareholder or stakeholders.

Chapter 4: Disclosure and TransparencyThe company places importance on disclosure of material financial information accurately and in the

timely manner in accordance with the generally accepted accounting standard and principle, as well asnon-financial information, with transparency, in strict compliance with laws, rules and regulations of the Officeof the Securities and Exchange Commission, Stock Exchange of Thailand and other government agencies.The company also follows up with amendments thereto so that shareholders, investors and the generalpublic can be confident that the laws, rules and regulations observed by the company are up-to-date, so thatthey are confident in the companyûs business operation, which will add value for shareholders. Partiesconcerned can access to information necessary to their decision-making through the channels provided bythe company, e.g. annual report, Form 56-1, and the website of the Stock Exchange of Thailand at www.set.or.thand the companyûs website at www.sahacogen.com. In this connection, the company also provides itsshareholders and investors with an opportunity to make inquiries through the companyûs investor relations,whereby the Managing Director is authorized to provide information and news to investors and thoseconcerned, by making contact at tel. 038-481555, fax 038-481551 or email [email protected]. This willfacilitate all stakeholders to access to information equally through several channels.

Every time when there is a transaction that may involve a conflict of interest, the Audit Committee willattend the meeting and provide their opinion, and the director having a conflict of interest will not attend themeeting and not vote on that agenda item so that the decision of the Board of Directors and executives willbe made fairly for the benefit of shareholders. Upon conclusion being reached the company will disclose theresolution of the meeting indicating the value of the transaction, contractual parties, reasons and needs forthe transaction and other details of such transaction accurately, completely and in a timely manner inaccordance with the rules of the Stock Exchange of Thailand. The transaction will also be summarized in theannual report and Form 56-1.

For the mechanism for monitoring, reviewing and balancing the power of management to ensuretransparency, the company has an internal control that covers management, operation and finance. Thecompany has hired Dharmniti Auditing Co., Ltd. as internal auditor to assess the internal control in accord-ance with the guideline stipulated by the Board of Directors. The internal audit emphasizes on prevention toensure concrete benefit of the relevant department. It will try to find the causes and propose opinion on

52

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§≥–°√√¡°“√∫√‘À“√‰¥â¡’°“√μ‘¥μ“¡º≈°“√¥”‡π‘πß“π¢ÕßΩÉ“¬®—¥°“√ ‚¥¬°”Àπ¥„Àâ¡’°“√√“¬ß“π§«“¡°â“«Àπâ“¢Õß

º≈°“√¥”‡π‘πß“π·≈–º≈ª√–°Õ∫°“√¢Õß∫√‘…—∑∑ÿ°‡¥◊Õπ ·≈–„π°√≥’∑’Ë°√√¡°“√∑à“π„¥¡’°“√‡ª≈’Ë¬π·ª≈ß°“√∂◊ÕÀ≈—°∑√—æ¬å

¢Õß∫√‘…—∑®–μâÕß àß ”‡π“√“¬ß“π°“√∂◊ÕÀ≈—°∑√—æ¬å∑’Ë‰¥â àß„Àâ°—∫ ”π—°ß“π§≥–°√√¡°“√°”°—∫À≈—°∑√—æ¬å·≈–μ≈“¥À≈—°∑√—æ¬å

„Àâ°—∫‡≈¢“πÿ°“√§≥–°√√¡°“√¢Õß∫√‘…—∑ ‡æ◊ËÕπ”‡¢â“∑’Ëª√–™ÿ¡§≥–°√√¡°“√∫√‘…—∑§√—ÈßμàÕ‰ª §≥–°√√¡°“√∫√‘…—∑¬—ß‰¥â®—¥„Àâ

¡’√“¬ß“π§«“¡√—∫º‘¥™Õ∫¢Õß§≥–°√√¡°“√∫√‘…—∑μàÕ√“¬ß“π∑“ß°“√‡ß‘π ‚¥¬· ¥ß§«∫§Ÿà°—∫√“¬ß“π¢ÕßºŸâ Õ∫∫—≠™’„π

√“¬ß“πª√–®”ªï ‚¥¬ª√–∏“π°√√¡°“√·≈–°√√¡°“√ºŸâ®—¥°“√‡ªìπºŸâ≈ßπ“¡„π√“¬ß“π¥—ß°≈à“«

§à“μÕ∫·∑π°√√¡°“√·≈–ºŸâ∫√‘À“√ë §à“μÕ∫·∑π°√√¡°“√

∫√‘…—∑¬—ß‰¡à¡’§≥–Õπÿ°√√¡°“√æ‘®“√≥“§à“μÕ∫·∑π ·μà¡’°√–∫«π°“√æ‘®“√≥“§à“μÕ∫·∑π‚¥¬§≥–°√√¡°“√∫√‘…—∑

®–√à«¡°—πæ‘®“√≥“°”Àπ¥«ß‡ß‘π§à“μÕ∫·∑π ·≈–π”‡ πÕμàÕ∑’Ëª√–™ÿ¡ºŸâ∂◊ÕÀÿâπ‡æ◊ËÕÕπÿ¡—μ‘‚¥¬æ‘®“√≥“®“°º≈ª√–°Õ∫

°“√¢Õß∫√‘…—∑ «ß‡ß‘π§à“μÕ∫·∑π∑’Ë‰¥â√—∫Õπÿ¡—μ‘®“°∑’Ëª√–™ÿ¡ºŸâ∂◊ÕÀÿâπ ·≈–®”π«π‡ß‘π§à“μÕ∫·∑π∑’Ë®à“¬„πªï∑’Ëºà“π¡“

‚¥¬§à“μÕ∫·∑π®–®à“¬‡ªìπ‡∫’È¬ª√–™ÿ¡‡¡◊ËÕ¡’°“√‡¢â“√à«¡ª√–™ÿ¡§≥–°√√¡°“√∫√‘…—∑¥—ßπ’È

ª√–∏“π°√√¡°“√ 20,000 ∫“∑/§√—Èß

°√√¡°“√ 10,000 ∫“∑/§√—Èß

·≈–§à“μÕ∫·∑πª√–®”ªï®–‡ªìπ°“√®à“¬„Àâ·°à°√√¡°“√∑ÿ°§π ∑—Èßπ’È∑’Ëª√–™ÿ¡ “¡—≠ºŸâ∂◊ÕÀÿâπ §√—Èß∑’Ë 5 ‡¡◊ËÕ«—π∑’Ë 6 ¡’π“§¡

2550 ‰¥âÕπÿ¡—μ‘§à“μÕ∫·∑π°√√¡°“√«ß‡ß‘π√«¡‰¡à‡°‘π 8 ≈â“π∫“∑μàÕªï ·≈–‰¥â®à“¬‰ª‡ªìπ®”π«π‡ß‘π∑—Èß ‘Èπ 7.9 ≈â“π∫“∑

‚¥¬∫√‘…—∑‰¥â‡ªî¥‡º¬§à“μÕ∫·∑π¢Õß°√√¡°“√‡ªìπ√“¬∫ÿ§§≈‰«â„πÀ—«¢âÕ 9.3 §à“μÕ∫·∑πºŸâ∫√‘À“√ „π·∫∫ 56-1

ë §à“μÕ∫·∑πºŸâ∫√‘À“√

§à“μÕ∫·∑πºŸâ∫√‘À“√‡ªìπ‰ªμ“¡À≈—°°“√·≈–π‚¬∫“¬¢Õß∫√‘…—∑‚¥¬æ‘®“√≥“®“°º≈ª√–°Õ∫°“√¢Õß∫√‘…—∑·≈–º≈°“√

ªØ‘∫—μ‘ß“π¢ÕßºŸâ∫√‘À“√·μà≈–§π

À¡«¥∑’Ë 5 ‡√◊ËÕß§«“¡√—∫º‘¥™Õ∫¢Õß§≥–°√√¡°“√ë ‚§√ß √â“ß§≥–°√√¡°“√∫√‘…—∑

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

- ª√–∏“π°√√¡°“√∫√‘…—∑ ´÷Ëß¡’§«“¡‡ªìπÕ‘ √– ·≈–‰¡à‰¥â‡ªìπºŸâ∫√‘À“√ 1 ∑à“π

- °√√¡°“√∑’Ë‰¡à‰¥â‡ªìπºŸâ∫√‘À“√ 3 ∑à“π

- °√√¡°“√μ√«® Õ∫ ÷́Ëß¡’§«“¡‡ªìπÕ‘ √– 4 ∑à“π

- °√√¡°“√∑’Ë‡ªìπºŸâ∫√‘À“√ 5 ∑à“π

∫√‘…—∑¡’°√√¡°“√Õ‘ √– 4 ∑à“π §‘¥‡ªìπ 30.77% ¢Õß°√√¡°“√∑—Èß§≥– ´÷Ëß‡ªìπ —¥ à«π¡“°°«à“¡“μ√∞“π¢âÕ°”Àπ¥

¢Õßμ≈“¥À≈—°∑√—æ¬å·Ààßª√–‡∑»‰∑¬∑’Ë°”Àπ¥‰«â ‰¡àπâÕ¬°«à“ 3 §π

∫√‘…—∑‰¡à¡’§≥–°√√¡°“√ √√À“ ‚¥¬§≥–°√√¡°“√∫√‘…—∑®–§—¥‡≈◊Õ°°√√¡°“√®“°ºŸâ∑√ß§ÿ≥«ÿ≤‘∑’Ë¡’§«“¡√Ÿâ§«“¡ “¡“√∂

®“°À≈“°À≈“¬«‘™“™’æ ¡’«‘ —¬∑—»πå ‡ªìπºŸâ¡’§ÿ≥∏√√¡ ·≈–¡’ª√–«—μ‘°“√∑”ß“π∑’Ë‰¡à¥à“ßæ√âÕ¬ · ¥ß§«“¡§‘¥‡ÀÁπÕ¬à“ß

Õ‘ √– ‚¥¬§≥–°√√¡°“√∫√‘…—∑‰¥â°”Àπ¥Àπâ“∑’Ë§«“¡√—∫º‘¥™Õ∫¢Õß§≥–°√√¡°“√∑ÿ°™ÿ¥‰«âÕ¬à“ß™—¥‡®π ·≈–¡’°√√¡°“√

ºŸâ®—¥°“√ „π∞“π–ΩÉ“¬®—¥°“√ ́ ÷Ëß‰¥â√—∫°“√·μàßμ—Èß®“°§≥–°√√¡°“√∫√‘…—∑„Àâ¡’Àπâ“∑’Ë¥Ÿ·≈°“√¥”‡π‘π∏ÿ√°‘® ∫√‘À“√°‘®°“√

ß“π¢Õß∫√‘…—∑ ·≈–°“√ªØ‘∫—μ‘ß“π¢Õß∫√‘…—∑„Àâ∫√√≈ÿμ“¡«—μ∂ÿª√– ß§å ‡ªÑ“À¡“¬ ·≈– Õ¥§≈âÕß°—∫π‚¬∫“¬∑’Ë§≥–°√√¡°“√

∫√‘…—∑°”Àπ¥

53

improvements to ensure true benefit, with approval by the relevant department. The audit will also revealadequate information to ensure transparency in accordance with the good governance practice. Audit resultswill be reported directly to the Audit Committee.

The Executive Board has monitored the performance of Management by requiring reporting of progressof performance and results of operations of the company every month. If any director changes his or herholding of the companyûs securities, a copy of the report on securities holding submitted to the Office of theSecurities and Exchange Commission must also be delivered to the Secretary to the Board of Directors, sothat the matter can be tabled at the next Board of Directors meeting. The Board of Directors has alsoprovided a report on the accountability of the Board of Directors to the financial reports, which is presentedalong with the auditorûs report in the annual report, which is signed by the Chairman of the Board and theManaging Director.

Remuneration of directors and executivesë Remuneration of directors

The company has not yet appointed a remuneration committee. The determination of remuneration ismade by the Board of Directors and proposed to the shareholdersû meeting for approval based on theresults of operations of the company and the remuneration of the previous year. Meeting allowances forthe Board of Directors meeting are as follows:Chairman of the Board Baht 20,000 per meetingDirector Baht 10,000 per meeting

The annual remuneration is paid to all directors. The annual general shareholdersû meeting No. 5, held onMarch 6, 2007, approved remuneration to directors in a maximum of Baht 8 million per year. The actualtotal amount paid was Baht 7.9 million. The remuneration of each director is disclosed in Section 9.3executive remuneration in Form 56-1.

ë Executive remunerationThe executive remuneration is in accordance with the companyûs principle and policy based on itsresults of operations and performance of each executive.

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

The Board of Directors of the company comprises 13 directors:- Chairman of the Board, who is independent and is not a member of Management 1 person- Directors who are members of Management 3 persons- Members of the Audit Committee, who are independent 4 persons- Directors who are members of Management 5 persons

The company has 4 independent directors, representing 30.77% of the total number of directors. Thisis higher than the standard of the regulations of the Stock Exchange of Thailand which require that theremust be at least 3 independent directors.

The company has no nomination committee. The Board of Directors will select directors from expertswho have knowledge and capability from various professions, and who have vision, are ethical, have nomisconduct record, and are able to provide opinion independently. The Board of Directors has clearlystipulated the duties and responsibilities of all committees, with the Managing Director, in the capacity of amember of Management, being appointed by the Board of Directors to oversee business operation andmanagement of the companyûs affairs and its performance to achieve the objectives and goals, in line withthe policy set by the Board of Directors.

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ë «“√–°“√¥”√ßμ”·Àπàß¢Õß°√√¡°“√

°√√¡°“√∫√‘…—∑‰¥â√—∫·μàßμ—Èß®“°∑’Ëª√–™ÿ¡ºŸâ∂◊ÕÀÿâπ ¡’«“√–°“√¥”√ßμ”·Àπàßμ“¡¢âÕ∫—ß§—∫¢Õß∫√‘…—∑ ·≈–‡¡◊ËÕ§√∫«“√–

·≈â« Õ“®‰¥â√—∫°“√‡≈◊Õ°μ—Èß°≈—∫‡¢â“¥”√ßμ”·ÀπàßμàÕ‰ª‰¥âÕ’°

∫√‘…—∑‰¡à ‰¥â°”Àπ¥Õ“¬ÿ¢Õß°√√¡°“√∫√‘…—∑∑’Ë®–∂Ÿ°‡ πÕ™◊ËÕ‡¢â“√—∫°“√‡≈◊Õ°μ—Èß„π«“√–∂—¥‰ª À√◊Õ®”π«π∫√‘…—∑∑’Ë

°√√¡°“√∫√‘…—∑·μà≈–§π¥”√ßμ”·Àπàß ‡π◊ËÕß®“°∫√‘…—∑¡’§«“¡‡™◊ËÕ«à“§«“¡ “¡“√∂∑“ß∏ÿ√°‘®·≈–§«“¡‡™’Ë¬«™“≠„π

‡√◊ËÕßμà“ßÊ ¢Õß°√√¡°“√‰¡à‰¥â¢÷ÈπÕ¬Ÿà°—∫Õ“¬ÿ À√◊Õ®”π«π∫√‘…—∑∑’Ë¥”√ßμ”·Àπàß

ë ®”π«π∫√‘…—∑∑’Ë°√√¡°“√‰ª¥”√ßμ”·Àπàß

∫√‘…—∑‰¥â‡ªî¥‡º¬√“¬≈–‡Õ’¬¥¢âÕ¡Ÿ≈°“√¥”√ßμ”·Àπàß¢Õß°√√¡°“√·μà≈–§π„π∫√‘…—∑Õ◊Ëπ‰«â„π‡Õ° “√·π∫ 1 ¢Õß·∫∫

56-1 ·≈–„π√“¬ß“πª√–®”ªï ́ ÷Ëßªí®®ÿ∫—π∫√‘…—∑¡’°√√¡°“√∫√‘…—∑®”π«π 3 §π∑’Ë¥”√ßμ”·Àπàß°√√¡°“√∫√‘…—∑®¥∑–‡∫’¬π

¡“°°«à“ 5 ∫√‘…—∑ ·μàÕ¬à“ß‰√°Áμ“¡∫√‘…—∑¡—Ëπ„®«à“‰¡à¡’º≈°√–∑∫μàÕ°“√ªØ‘∫—μ‘Àπâ“∑’Ë·μàÕ¬à“ß„¥ ‡π◊ËÕß®“°°√√¡°“√‰¥â

Õÿ∑‘»‡«≈“„π°“√ªØ‘∫—μ‘Àπâ“∑’Ë„Àâ°—∫∫√‘…—∑Õ¬à“ß‡μÁ¡∑’Ë ‚¥¬‰¥â‡¢â“√à«¡ª√–™ÿ¡Õ¬à“ß ¡Ë”‡ ¡Õ∑ÿ°§√—Èß ·≈–∑”§ÿ≥ª√–‚¬™πå

·°à∫√‘…—∑¡“‚¥¬μ≈Õ¥

ë §ÿ≥ ¡∫—μ‘°√√¡°“√Õ‘ √–

ç°√√¡°“√Õ‘ √–é À¡“¬∂÷ß ∫ÿ§§≈∑’Ë¡’§ÿ≥ ¡∫—μ‘§√∫∂â«π ·≈–¡’§«“¡‡ªìπÕ‘ √–μ“¡∑’Ëμ≈“¥À≈—°∑√—æ¬å·Ààßª√–‡∑»‰∑¬

·≈– ”π—°ß“π§≥–°√√¡°“√°”°—∫À≈—°∑√—æ¬å °”Àπ¥ §◊Õ

1. ∂◊ÕÀÿâπ‰¡à‡°‘π√âÕ¬≈– 5 ¢Õß∑ÿπ®¥∑–‡∫’¬π™”√–·≈â«¢Õß∫√‘…—∑ ∫√‘…—∑„π‡§√◊Õ ∫√‘…—∑√à«¡ À√◊Õ∫√‘…—∑∑’Ë‡°’Ë¬«¢âÕß

∑—Èßπ’È„Àâπ—∫√«¡Àÿâπ∑’Ë∂◊Õ‚¥¬ºŸâ∑’Ë‡°’Ë¬«¢âÕß¥â«¬

2. ‡ªìπ°√√¡°“√∑’Ë‰¡à¡’ à«π√à«¡„π°“√∫√‘À“√ß“π„π∫√‘…—∑ ∫√‘…—∑„π‡§√◊Õ ∫√‘…—∑√à«¡ ∫√‘…—∑∑’Ë‡°’Ë¬«¢âÕß À√◊ÕºŸâ∂◊ÕÀÿâπ

√“¬„À≠à¢Õß∫√‘…—∑ √«¡∑—Èß‰¡à‡ªìπ≈Ÿ°®â“ß æπ—°ß“π À√◊Õ∑’Ëª√÷°…“∑’Ë‰¥â√—∫‡ß‘π‡¥◊Õπª√–®”®“°∫√‘…—∑ ∫√‘…—∑„π‡§√◊Õ

∫√‘…—∑√à«¡ ∫√‘…—∑∑’Ë‡°’Ë¬«¢âÕßÀ√◊ÕºŸâ∂◊ÕÀÿâπ√“¬„À≠à¢Õß∫√‘…—∑

3. ‡ªìπ°√√¡°“√∑’Ë‰¡à¡’º≈ª√–‚¬™πåÀ√◊Õ à«π‰¥â‡ ’¬‰¡à«à“∑“ßμ√ßÀ√◊Õ∑“ßÕâÕ¡∑—Èß„π¥â“π°“√‡ß‘π ·≈–∫√‘À“√ß“π¢Õß

∫√‘…—∑ ∫√‘…—∑„π‡§√◊Õ ∫√‘…—∑√à«¡ À√◊ÕºŸâ∂◊ÕÀÿâπ√“¬„À≠à¢Õß∫√‘…—∑ ·≈–√«¡∂÷ß‰¡à¡’º≈ª√–‚¬™πåÀ√◊Õ à«π‰¥â‡ ’¬„π

≈—°…≥–¥—ß°≈à“«„π‡«≈“ 1 ªï°àÕπ‰¥â√—∫°“√·μàßμ—Èß ¬°‡«âπ§≥–°√√¡°“√∫√‘…—∑‰¥âæ‘®“√≥“Õ¬à“ß√Õ∫§Õ∫·≈â«‡ÀÁπ«à“

°“√‡§¬¡’º≈ª√–‚¬™πåÀ√◊Õ à«π‰¥â‡ ’¬π—Èπ®–‰¡à¡’º≈°√–∑∫μàÕ°“√ªØ‘∫—μ‘Àπâ“∑’Ë·≈–°“√„Àâ§«“¡‡ÀÁπ∑’Ë‡ªìπÕ‘ √–

4. ‡ªìπ°√√¡°“√∑’Ë‰¡à„™à‡ªìπºŸâ∑’Ë‡°’Ë¬«¢âÕßÀ√◊Õ≠“μ‘ π‘∑¢ÕßºŸâ∫√‘À“√À√◊ÕºŸâ∂◊ÕÀÿâπ√“¬„À≠à¢Õß∫√‘…—∑

5. ‡ªìπ°√√¡°“√∑’Ë‰¡à‰¥â√—∫°“√·μàßμ—Èß¢÷Èπ‡ªìπμ—«·∑π‡æ◊ËÕ√—°…“º≈ª√–‚¬™πå¢Õß°√√¡°“√∫√‘…—∑ ºŸâ∂◊ÕÀÿâπ√“¬„À≠à À√◊Õ

ºŸâ∂◊ÕÀÿâπ ÷́Ëß‡ªìπºŸâ∑’Ë‡°’Ë¬«¢âÕß°—∫ºŸâ∂◊ÕÀÿâπ√“¬„À≠à À√◊ÕºŸâ∂◊ÕÀÿâπ´÷Ëß‡ªìπºŸâ∑’Ë‡°’Ë¬«¢âÕß°—∫ºŸâ∂◊ÕÀÿâπ√“¬„À≠à¢Õß∫√‘…—∑

6. “¡“√∂ªØ‘∫—μ‘Àπâ“∑’Ë ·≈–· ¥ß§«“¡‡ÀÁπÀ√◊Õ√“¬ß“πº≈°“√ªØ‘∫—μ‘ß“πμ“¡Àπâ“∑’Ë∑’Ë‰¥â√—∫¡Õ∫À¡“¬®“°§≥–

°√√¡°“√∫√‘…—∑‰¥âÕ¬à“ßÕ‘ √–‚¥¬‰¡àÕ¬Ÿà¿“¬„μâ°“√§«∫§ÿ¡¢ÕßºŸâ∫√‘À“√À√◊ÕºŸâ∂◊ÕÀÿâπ√“¬„À≠à¢Õß∫√‘…—∑ √«¡∑—Èß

ºŸâ∑’Ë‡°’Ë¬«¢âÕß À√◊Õ≠“μ‘ π‘∑¢Õß∫ÿ§§≈¥—ß°≈à“«

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

§≥–°√√¡°“√∫√‘…—∑æ‘®“√≥“ √√À“§—¥‡≈◊Õ°°√√¡°“√Õ‘ √– μ“¡À≈—°‡°≥±å·≈–§ÿ≥ ¡∫—μ‘¢Õßμ≈“¥À≈—°∑√—æ¬å

·Ààßª√–‡∑»‰∑¬ ·≈– ”π—°ß“π§≥–°√√¡°“√°”°—∫À≈—°∑√—æ¬å ‡æ◊ËÕ‡ πÕμàÕ∑’Ëª√–™ÿ¡ºŸâ∂◊ÕÀÿâπ

‡≈¢“πÿ°“√§≥–°√√¡°“√∫√‘…—∑

∫√‘…—∑‰¥â¡Õ∫À¡“¬„Àâ§ÿ≥«‘‚√®πå ∏’√«—≤πå«“∑’ °√√¡°“√ºŸâ®—¥°“√ ´÷Ëß‡ªìπºŸâ∑’Ë¡’§ÿ≥«ÿ≤‘·≈–ª√– ∫°“√≥å∑’Ë‡À¡“– ¡ ‡ªìπ

ºŸâ√—∫º‘¥™Õ∫∑”Àπâ“∑’Ë‡≈¢“πÿ°“√§≥–°√√¡°“√∫√‘…—∑ ‡æ◊ËÕ„Àâ°“√∫√‘À“√ß“π¢Õß∫√‘…—∑¥”‡π‘π‰ªÕ¬à“ß¡’ª√– ‘∑∏‘¿“æμ“¡

À≈—°°“√°”°—∫¥Ÿ·≈°‘®°“√∑’Ë¥’

55

ë Terms of directorsA director appointed by the shareholdersû meeting has a term of office as provided in the articles ofassociation of the company. Upon completion of the term of office, he or she may be re-elected.

The company does not fix the age of the person nominated for election as director or the number ofcompanies in which each director holds offices, because the company believes that the businesscapability and expertise of a director does not depend on his or her age or the number of companiesin which he or she holds offices.

ë Number of companies in which a director holds officesThe company discloses the information on holding of offices by each director in other companies inAttachment 1 of Form 56-1 and in its annual report. At present the company has 3 directors who arealso directors in more than 5 listed companies. However, the company is confident that this does notaffect their performance because the directors have fully devoted their time to perform their functionsfor the company by consistently attending every meeting and continuously contributing to the company.

ë Qualifications of independent directorsçIndependent directoré means a person with full qualifications and is independent as defined by theStock Exchange of Thailand and the Securities and Exchange Commission as follows:1. Holding shares not more than 5% of the paid-up registered capital of the company, its affiliates,

associated companies or related companies. This includes shares held by his or her relatedpersons.

2. Being a director without participation in managing the company, its affiliates, associatedcompanies, related companies or major shareholders of the company, and not being an employeeor advisor receiving regular salary from the company or any of its affiliates, associated companies,related companies or major shareholders.

3. Being a director without direct or indirect conflict of interest in the finance or management of thecompany or any of its affiliates, associated companies, or major shareholders, and having noconflict of interest of the said nature during 1 year before being appointed, unless the Board ofDirectors has carefully consider that such an interest will not affect his or her performance andindependence in providing opinion.

4. Being a director who is not related to or close relative of an executive or major shareholder of thecompany.

5. Being a director not appointed as a representative to protect the interest of any of the directors ofthe company, its major shareholders or a shareholder related to a major shareholder.

6. Being able to perform duties and provide opinion or report his or her performance of dutiesentrusted by the Board of Directors independently without being controlled by any executive ormajor shareholder of the company including those who are related to or close relatives of such aperson.

Rules for selecting an independent director and selection processThe Board of Directors selects independent directors in accordance with the rules and qualificationsstipulated by the Stock Exchange of Thailand and the Securities and Exchange Commission andproposes them to the shareholdersû meeting.

Secretary to the Board of DirectorsThe company has authorized Mr. Viroj Theeravatvatee, Managing Director, who has appropriate exper-tise and experience, to perform the duty of the Secretary to the Board of Directors, to ensure that themanagement of the company is efficient in accordance with the good governance practice.

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‡≈¢“πÿ°“√§≥–°√√¡°“√∫√‘…—∑¡’Àπâ“∑’Ë·≈–§«“¡√—∫º‘¥™Õ∫¥—ßπ’È

1. „Àâ§”·π–π”‡∫◊ÈÕßμâπ·°à°√√¡°“√‡°’Ë¬«°—∫¢âÕ°ÆÀ¡“¬ √–‡∫’¬∫·≈–¢âÕ∫—ß§—∫μà“ßÊ ¢Õß∫√‘…—∑ ·≈–μ‘¥μ“¡„Àâ¡’

°“√ªØ‘∫—μ‘μ“¡Õ¬à“ß∂Ÿ°μâÕß·≈– ¡Ë”‡ ¡Õ √«¡∂÷ß√“¬ß“π°“√‡ª≈’Ë¬π·ª≈ß∑’Ë¡’π—¬ ”§—≠·°à°√√¡°“√

2. ª√– “πß“π√–À«à“ß°√√¡°“√∫√‘…—∑ ·≈–ΩÉ“¬®—¥°“√ ¥Ÿ·≈ ·≈–ª√– “πß“π¥â“π°ÆÀ¡“¬ °Æ‡°≥±åμà“ßÊ ∑’Ë

‡°’Ë¬«¢âÕß√«¡∑—Èß¥”‡π‘π°“√„Àâ¡’°“√ªØ‘∫—μ‘μ“¡¡μ‘§≥–°√√¡°“√∫√‘…—∑

3. ®—¥°“√ª√–™ÿ¡ºŸâ∂◊ÕÀÿâπ ·≈–ª√–™ÿ¡§≥–°√√¡°“√∫√‘…—∑„Àâ‡ªìπ‰ªμ“¡°ÆÀ¡“¬ ¢âÕ∫—ß§—∫¢Õß∫√‘…—∑ ·≈–¢âÕæ÷ß

ªØ‘∫—μ‘μà“ßÊ

4. ∫—π∑÷°√“¬ß“π°“√ª√–™ÿ¡ºŸâ∂◊ÕÀÿâπ ·≈–°“√ª√–™ÿ¡§≥–°√√¡°“√∫√‘…—∑ √«¡∑—Èßμ‘¥μ“¡„Àâ¡’°“√ªØ‘∫—μ‘μ“¡¡μ‘∑’Ë

ª√–™ÿ¡ºŸâ∂◊ÕÀÿâπ ·≈–∑’Ëª√–™ÿ¡§≥–°√√¡°“√∫√‘…—∑

5. ¥Ÿ·≈„Àâ¡’°“√‡ªî¥‡º¬¢âÕ¡Ÿ≈·≈–√“¬ß“π “√ π‡∑»„π à«π∑’Ë‡°’Ë¬«¢âÕßμ“¡√–‡∫’¬∫·≈–¢âÕ°”Àπ¥¢Õß ”π—°ß“π

§≥–°√√¡°“√°”°—∫À≈—°∑√—æ¬å ·≈–μ≈“¥À≈—°∑√—æ¬å·Ààßª√–‡∑»‰∑¬

6. μ‘¥μàÕ·≈– ◊ËÕ “√°—∫ºŸâ∂◊ÕÀÿâπ∑—Ë«‰ª„Àâ ‰¥â√—∫∑√“∫ ‘∑∏‘μà“ßÊ ¢ÕßºŸâ∂◊ÕÀÿâπ ·≈–¢à“« “√¢Õß∫√‘…—∑

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

¿“«–ºŸâπ” ·≈–«‘ —¬∑—»πå

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

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

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

μ“¡«—μ∂ÿª√– ß§å·≈–‡ªÑ“À¡“¬∑’Ë‰¥â°”Àπ¥‰«â„Àâ‡°‘¥ª√–‚¬™πå Ÿß ÿ¥μàÕ∫√‘…—∑ ·≈–ºŸâ∂◊ÕÀÿâπ ¡’°“√∫√‘À“√ß“π‚¥¬°“√

°”Àπ¥¿“√°‘® ‡ªÑ“À¡“¬ °≈¬ÿ∑∏å ·ºπªÆ‘∫—μ‘ß“π·≈–ß∫ª√–¡“≥ª√–®”ªï ‡æ◊ËÕ„Àâ∫√√≈ÿ‡ªÑ“À¡“¬∑’Ë°”Àπ¥‰«â ‚¥¬π”

À≈—°∫√√…—∑¿‘∫“≈¡“‡ªìπ‡§√◊ËÕß¡◊Õ„π°“√∫√‘À“√®—¥°“√‡æ◊ËÕ‡æ‘Ë¡¡Ÿ≈§à“„Àâ·°à°‘®°“√·≈–ºŸâ∂◊ÕÀÿâπ

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

∫ÿ§§≈∏√√¡¥“ ·≈–

1. ∫√√≈ÿπ‘μ‘¿“«–

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

3. ‰¡à‡§¬√—∫‚∑…®”§ÿ° ‚¥¬§”æ‘æ“°…“∂÷ß∑’Ë ÿ¥„Àâ®”§ÿ°„π§«“¡º‘¥‡°’Ë¬«°—∫∑√—æ¬å∑’Ë‰¥â °√–∑”‚¥¬∑ÿ®√‘μ‰¡à‡§¬∂Ÿ°

≈ß‚∑…‰≈àÕÕ°À√◊Õª≈¥ÕÕ°®“°√“™°“√ À√◊ÕÕß§å°“√À√◊Õ Àπà«¬ß“π¢Õß√—∞ ∞“π∑ÿ®√‘μμàÕÀπâ“∑’Ë

§≥–°√√¡°“√∫√‘…—∑¡’°“√μ‘¥μ“¡º≈°“√¥”‡π‘πß“π¢ÕßΩÉ“¬®—¥°“√ ‚¥¬°”Àπ¥„Àâ√“¬ß“π§«“¡°â“«Àπâ“¢Õßº≈°“√

¥”‡π‘πß“π·≈–º≈ª√–°Õ∫°“√¢Õß∫√‘…—∑ ·≈–°“√∂◊Õ§√ÕßÀ≈—°∑√—æ¬å¢Õß°√√¡°“√·≈–ºŸâ∫√‘À“√∑ÿ°§π„π°“√ª√–™ÿ¡

§≥–°√√¡°“√∫√‘…—∑

°“√√«¡À√◊Õ·¬°μ”·Àπàß

ª√–∏“π°√√¡°“√∫√‘…—∑‡ªìπ°√√¡°“√´÷Ëß¡’§«“¡‡ªìπÕ‘ √–¡‘‰¥â‡ªìπºŸâ∫√‘À“√·≈–‰¡à‡ªìπ∫ÿ§§≈‡¥’¬«°—∫ª√–∏“π°√√¡°“√

∫√‘À“√ ‡æ◊ËÕ‡ªìπ°“√·∫àß·¬°Àπâ“∑’Ë„π°“√∫√‘À“√ß“π ¡’§«“¡Õ‘ √–®“°°—π ·≈–∂à«ß¥ÿ≈´÷Ëß°—π·≈–°—π ‚¥¬ª√–∏“π°√√¡°“√

∫√‘…—∑‰¥â· ¥ß∫∑∫“∑¢ÕßºŸâπ” ·≈–‡ªìπºŸâ§«∫§ÿ¡°“√ª√–™ÿ¡§≥–°√√¡°“√∫√‘…—∑„Àâ¡’ª√– ‘∑∏‘¿“æ·≈–ª√– ‘∑∏‘º≈

π—∫ πÿπ„Àâ°√√¡°“√·≈–ºŸâ∫√‘À“√∑ÿ°§π¡’ à«π√à«¡„π°“√ª√–™ÿ¡ ™à«¬‡À≈◊Õ ·π–π” ¥Ÿ·≈ °“√¥”‡π‘π∏ÿ√°‘®¢ÕßΩÉ“¬®—¥°“√

·μà®–‰¡à‡¢â“‰ª°â“«°à“¬ß“πÀ√◊Õ∏ÿ√°‘®ª√–®”¢ÕßΩÉ“¬®—¥°“√ πÕ°®“°π’È¬—ß°”Àπ¥¢Õ∫‡¢μÕ”π“®Àπâ“∑’Ë¢Õß§≥–°√√¡°“√

·μà≈–§≥–·≈–¢ÕßΩÉ“¬®—¥°“√‰«âÕ¬à“ß™—¥‡®π “¡“√∂μ√«® Õ∫‰¥â ‡æ◊ËÕ§«“¡‚ª√àß„ „π°“√∫√‘À“√®—¥°“√

57

The Secretary to the Board of Directors has the duties and responsibilities to1. provide preliminary opinion to the directors on provisions of laws, rules and regulations of the

company and monitor the implementation thereof regularly, and report any significant amendmentthereto to the directors;

2. coordinate among directors and Management, coordinate on relevant laws and regulations andensure implementation of the resolutions of the Board of Directors;

3. hold shareholdersû meetings and Board of Directors meetings in accordance with laws, articles ofassociation and stipulations;

4. prepare minutes of shareholdersû meetings and of Board of Directors meetings and monitorimplementation of resolutions of the shareholdersû meetings and of the Board of Directorsmeetings;

5. ensure the disclosure of information and reporting in accordance with the rules and regulations ofthe Securities and Exchange Commission and the Stock Exchange of Thailand; and

6. contact and communicate with shareholders so that they know of their rights and developments ofthe company.

ë Roles, duties and responsibilities of the Board of DirectorsLeadership and visionThe Board of Directors comprises persons who have diversified knowledge, capabilities and experiencesand specific expertise that benefit the company. They understand their roles, duties and responsibilities,and have leadership. They set the clear vision of the company. They are independent in providingopinion and making decision. They supervise the businesses of the company in accordance with itsobjectives and goals to generate the maximum benefit to the company and its shareholders. Theymanage the company by setting tasks, goals, strategies, action plans and annual budget to achievegoals, using good governance practice to increase value for the company and its shareholders.

The company requires that the Board of Directors must comprise at least 5 persons (pursuant to thePublic Limited Companies Act). A director must be a natural person and1. being of legal age;

2. not being a bankrupt, incompetent or quasi-incompetent; and

3. having never been imprisoned by a final court judgment for an offense involving propertycommitted in bad faith, and having never been terminated or dismissed from government service,state organization or agency due to dishonesty.

The Board of Directors monitors the performance of Management by requiring Management to reportthe progress and results of operations of the company and securities holding by all directors andexecutives at the Board of Directors meetings.

Combination or separation of positionsThe Chairman of the Board is a director who is independent and is not a member of Management andnot the same person as the Chairman of the Executive Board, in order to separate duties, for the sakeof independence and balance. The Chairman of the Board plays the role of leader and controls theBoard of Directors meeting to ensure efficiency and effectiveness. The Chairman of the Board alsoencourages all directors and executives to participate in the meeting, assists, provides advice,supervises the business operation by Management, but does not interfere with the regular tasks orbusiness of Management. In addition, the powers and duties of each committee and of Management areclearly defined so that they can be examined for the sake of transparency.

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√–∫∫°“√§«∫§ÿ¡μ√«® Õ∫¿“¬„π·≈–∫√‘À“√§«“¡‡ ’Ë¬ß

§≥–°√√¡°“√∫√‘…—∑„Àâ§«“¡ ”§—≠μàÕ√–∫∫§«∫§ÿ¡¿“¬„π¥â“π°“√¥”‡π‘πß“π °“√‡ß‘π °“√ªØ‘∫—μ‘ß“π ·≈–°“√°”°—∫¥Ÿ·≈

‚¥¬¡’Àπà«¬ß“πμ√«® Õ∫¿“¬„π∑”Àπâ“∑’Ëμ√«® Õ∫°“√ªØ‘∫—μ‘ß“π¢Õß√–∫∫¥—ß°≈à“« √«¡∂÷ß√–∫∫ß“π§Õ¡æ‘«‡μÕ√å

μ≈Õ¥®π„Àâ§”·π–π”‡æ◊ËÕ„Àâ‡°‘¥§«“¡¡—Ëπ„®«à“‰¥â¥”‡π‘π°“√ μ“¡·π«∑“ß∑’Ë°”Àπ¥Õ¬à“ß¡’ª√– ‘∑∏‘º≈ ¡’§«“¡‡ªìπÕ‘ √–

“¡“√∂∑”Àπâ“∑’Ëμ√«® Õ∫·≈–∂à«ß¥ÿ≈‰¥âÕ¬à“ß‡μÁ¡∑’Ë

∫√‘…—∑‰¥â«à“®â“ß∫√‘…—∑ Õ∫∫—≠™’∏√√¡π‘μ‘ ®”°—¥ ‡æ◊ËÕμ√«® Õ∫¿“¬„π ‚¥¬ª√– “πß“π°—∫ºŸâ√—∫º‘¥™Õ∫ß“πμ√«® Õ∫

¿“¬„π¢Õß∫√‘…—∑ ‡æ◊ËÕ‡æ‘Ë¡ª√– ‘∑∏‘º≈„πß“πμ√«® Õ∫„Àâ¥’¬‘Ëß¢÷Èπ ‚¥¬‰¥âπ”º≈°“√μ√«® Õ∫‰ªª√÷°…“√à«¡°—∫ºŸâ∫√‘À“√

¢ÕßÀπà«¬ß“πºŸâ√—∫°“√μ√«® Õ∫·≈–°√√¡°“√ºŸâ®—¥°“√ ‡æ◊ËÕ·≈°‡ª≈’Ë¬π§«“¡§‘¥‡ÀÁπ‡°’Ë¬«°—∫¢âÕ‡∑Á®®√‘ß·≈–ªí≠À“∑’Ë

μ√«®æ∫ æ√âÕ¡∑—Èß¡“μ√°“√„π°“√ªÑÕß°—π·≈–°“√·°â ‰¢ª√—∫ª√ÿß °àÕπ√“¬ß“π‡ªìπ∫—π∑÷°μàÕ§≥–°√√¡°“√μ√«® Õ∫

·≈–ª√–™ÿ¡·≈°‡ª≈’Ë¬π¢âÕ§‘¥‡ÀÁπ‡°’Ë¬«°—∫·π«§‘¥„π°“√μ√«® Õ∫·≈–º≈¢Õß°“√μ√«® Õ∫°—∫§≥–°√√¡°“√μ√«® Õ∫

Õ¬à“ß ¡Ë”‡ ¡Õ

§≥–°√√¡°“√μ√«® Õ∫‰¥âæ‘®“√≥“«à“ Àπà«¬ß“πμà“ßÊ ¢Õß∫√‘…—∑¡’°“√«‘‡§√“–Àå§«“¡‡ ’Ë¬ßÕ¬Ÿà·≈â« ·μà∫√‘…—∑®–‰¥â

ª√–‚¬™πå Ÿß ÿ¥®“°°“√®—¥°“√„Àâ¡’°“√ª√– “πß“π∫√‘À“√§«“¡‡ ’Ë¬ß¢ÕßÀπà«¬ß“πμà“ßÊ Õ¬à“ß‡ªìπ√–∫∫·≈–μàÕ‡π◊ËÕß

‡æ◊ËÕ‡æ‘Ë¡ª√– ‘∑∏‘¿“æ„π°“√∫√‘À“√§«“¡‡ ’Ë¬ß ®÷ß‰¥â‡ πÕ§≥–°√√¡°“√∫√‘…—∑«à“®â“ß∫√‘…—∑ Õ∫∫—≠™’∏√√¡π‘μ‘ ®”°—¥

‡æ◊ËÕª√–‡¡‘π√–∫∫°“√∫√‘À“√§«“¡‡ ’Ë¬ß

§≥–°√√¡°“√∫√‘…—∑¡’°“√∫√‘À“√§«“¡‡ ’Ë¬ßμ“¡≈—°…≥– §«“¡‡À¡“– ¡ ·≈–ª√–‡¿∑§«“¡‡ ’Ë¬ß‚¥¬ª√–‡¡‘π®“°

ªí®®—¬¿“¬„π ·≈–¿“¬πÕ° ‡æ◊ËÕÀ“¡“μ√°“√ªÑÕß°—π æ—≤π“ ª√—∫ª√ÿß ·≈–¢¬“¬º≈¢Õß°“√æ‘®“√≥“§«“¡‡ ’Ë¬ß μ≈Õ¥

®π°“√∫√‘À“√§«“¡‡ ’Ë¬ß„Àâ§√Õ∫§≈ÿ¡∑—Ë«∑—ÈßÕß§å°√ „ÀâÕ¬Ÿà„π√–¥—∫∑’ËÕß§å°√¬Õ¡√—∫‰¥â ·≈–‰¡à àßº≈°√–∑∫μàÕ°“√

¥”‡π‘πß“π¢Õß∫√‘…—∑‡ªìπ ”§—≠

ë °“√ª√–™ÿ¡§≥–°√√¡°“√

§≥–°√√¡°“√∫√‘…—∑„Àâ§«“¡ ”§—≠°—∫°“√‡¢â“√à«¡ª√–™ÿ¡·≈–∂◊Õ‡ªìπÀπâ“∑’Ë ‡æ◊ËÕ√—∫∑√“∫·≈–√à«¡μ—¥ ‘π„®„π°“√¥”‡π‘πß“π

¢Õß∫√‘…—∑ ‰¥â°”Àπ¥°“√ª√–™ÿ¡‰«â≈à«ßÀπâ“μ≈Õ¥∑—Èßªï ‚¥¬®—¥¢÷Èπ∑ÿ°‰μ√¡“ ‡≈¢“πÿ°“√§≥–°√√¡°“√∫√‘…—∑®– àß®¥À¡“¬

‡™‘≠ª√–™ÿ¡ æ√âÕ¡∑—Èß√–‡∫’¬∫«“√–°“√ª√–™ÿ¡ √“¬ß“π°“√ª√–™ÿ¡§√—Èß°àÕπ ·≈–‡Õ° “√ª√–°Õ∫°“√ª√–™ÿ¡„Àâ

§≥–°√√¡°“√∫√‘…—∑∑√“∫‡√◊ËÕß ‡æ◊ËÕæ‘®“√≥“≈à«ßÀπâ“μ“¡√–¬–‡«≈“∑’Ë°ÆÀ¡“¬°”Àπ¥ „π°“√æ‘®“√≥“‡√◊ËÕßμà“ßÊ

ª√–∏“π°√√¡°“√∫√‘…—∑´÷Ëß∑”Àπâ“∑’Ëª√–∏“π∑’Ëª√–™ÿ¡‰¥â‡ªî¥‚Õ°“ „Àâ°√√¡°“√·≈–ºŸâ∫√‘À“√· ¥ß§«“¡§‘¥‡ÀÁπ‰¥â

Õ¬à“ßÕ‘ √– „π°“√ª√–™ÿ¡§≥–°√√¡°“√∫√‘…—∑∑ÿ°§√—Èß ºŸâ∫√‘À“√√–¥—∫ Ÿß¢Õß∫√‘…—∑‰¥â‡¢â“√à«¡ª√–™ÿ¡ ‡æ◊ËÕ™’È·®ß¢âÕ¡Ÿ≈

„π∞“π–ºŸâ‡°’Ë¬«¢âÕß°—∫ªí≠À“‚¥¬μ√ß ·≈–§≥–°√√¡°“√∫√‘…—∑∑ÿ°∑à“π “¡“√∂¢Õ¢âÕ¡Ÿ≈‡æ‘Ë¡‡μ‘¡®“°ºŸâ∫√‘À“√√–¥—∫ Ÿß

·≈–‡≈¢“πÿ°“√§≥–°√√¡°“√∫√‘…—∑‰¥â∑ÿ°‡√◊ËÕß

‡¡◊ËÕ ‘Èπ ÿ¥°“√ª√–™ÿ¡ ‡≈¢“πÿ°“√§≥–°√√¡°“√∫√‘…—∑‡ªìπºŸâ¡’Àπâ“∑’Ë®—¥∑”√“¬ß“π°“√ª√–™ÿ¡ ºà“π°“√ Õ∫∑“π®“°

§≥–°√√¡°“√∫√‘À“√ ·≈–®—¥ àß„Àâª√–∏“π°√√¡°“√∫√‘…—∑æ‘®“√≥“≈ß≈“¬¡◊Õ™◊ËÕ√—∫√Õß§«“¡∂Ÿ°μâÕß ‚¥¬‡ πÕ„Àâ∑’Ë

ª√–™ÿ¡√—∫√Õß„π«“√–·√°¢Õß°“√ª√–™ÿ¡§√—Èß∂—¥‰ª ∑—Èßπ’È °√√¡°“√∫√‘…—∑ “¡“√∂· ¥ß§«“¡§‘¥‡ÀÁπ ¢Õ·°â ‰¢ ‡æ‘Ë¡

‡μ‘¡√“¬ß“π°“√ª√–™ÿ¡„Àâ¡’§«“¡≈–‡Õ’¬¥∂Ÿ°μâÕß¡“°∑’Ë ÿ¥‰¥â

√“¬ß“π°“√ª√–™ÿ¡∑’Ë∑’Ëª√–™ÿ¡√—∫√Õß·≈â«®–∂Ÿ°®—¥‡°Á∫Õ¬à“ß‡ªìπ√–∫∫ ≥ ”π—°ß“π∫√‘…—∑ ·≈–®—¥‡°Á∫„π√Ÿª·∫∫

‡Õ° “√Õ‘‡≈Á°∑√Õπ‘° åæ√âÕ¡°—∫‡Õ° “√·π∫ª√–°Õ∫«“√–°“√ª√–™ÿ¡μà“ßÊ ‡æ◊ËÕ –¥«°„π°“√ ◊∫§âπÕâ“ßÕ‘ß

59

Internal control and risk managementThe Board of Directors places importance on internal control with respect to operation, finance, functionand supervision, with an internal audit department examining the performance of the said controlincluding computer system and providing advice to ensure that the stipulated guideline has beenimplemented effectively. It is also independent and can fully conduct examination and balancing.

The company has hired Dharmniti Auditing Co., Ltd. to conduct internal audit in cooperation with thoseresponsible for internal audit of the company in order to increase the effectiveness of the audit. Theresults of the audit will be consulted with the executive of the department audited and the ManagingDirector to exchange opinions concerning facts and problems found as well as measures for preventionand improvement, before the same is reported in writing to the Audit Committee. Regular meetings withthe Audit Committee are held to exchange opinions on the concepts and results of audit.

The Audit Committee considers that the companyûs various departments have already analyzed risks.However, the company will be most benefited from the coordination of risk management by variousdepartments systematically and continuously in order to increase the efficiency of risk management. Itwas therefore proposed to the Board of Directors to hire Dharmniti Auditing Co., Ltd. to evaluate the riskmanagement system.

The Board of Directors manages risks according to the nature, suitability and type of risks, by evaluatinginternal and external factors to find measures of prevention, development, improvement and extension ofresults of risk consideration and risk management to cover the entire organization so that the risks areat the level acceptable to the organization and not to impact the operation of the company.

ë Board of Directors meetingThe Board of Directors places importance on attending the meeting and it is the duty of directors to doso in order to acknowledge and make decision on the companyûs operation. Meetings are scheduled inadvance throughout the year and are to be held every quarter. The secretary to the Board of Directorswill send notice together with agenda, minutes of the previous meeting and supporting documents forthe meeting to the directors for their consideration in advance within the period required by law. Inconsidering matters, the Chairman of the Board, who acts as chairman of the meeting, will provide anopportunity to directors and executives to independently give opinion. At every Board of Directorsmeeting, high-ranking executives of the company will attend it to provide explanation as a persondirectly involved with the problem. All directors can request additional information on any matter fromhigh-ranking executives and the Secretary to the Board.

Upon completion of the meeting, the Secretary to the Board will prepare the minutes of the meeting,which will be reviewed by the Executive Board and sent to the Chairman of the Board for signing toconfirm their accuracy. The minutes will be proposed, for approval, as the first agenda item of the nextBoard meeting. The directors can comment on or request revisions to the minutes so that they areaccurate as much as possible.

Minutes approved will be properly kept at the office of the company and also kept in electronic formtogether with supporting documents of various agenda items for convenience of reference.

60

„πªï 2550 §≥–°√√¡°“√∫√‘…—∑¡’°“√ª√–™ÿ¡®”π«π 6 §√—Èß °“√‡¢â“√à«¡ª√–™ÿ¡¢Õß§≥–°√√¡°“√∫√‘…—∑·μà≈–∑à“π

√ÿª‰¥â¥—ßπ’È

√“¬™◊ËÕ “¡—≠ºŸâ∂◊ÕÀÿâπ §≥–°√√¡°“√ §≥–°√√¡°“√ §≥–°√√¡°“√

∫√‘…—∑ ∫√‘À“√ μ√«® Õ∫

1. æ≈‡√◊Õ‡Õ° Õπÿ™‘μ ‡¿°–π—π∑πå 1/1 6/6 - -

2. π“¬∫ÿ≥¬ ‘∑∏‘Ï ‚™§«—≤π“ 1/1 6/6 - -

3. π“¬∫ÿ≠‡°’¬√μ‘ ‚™§«—≤π“ 1/1 5/6 5/5 -

4. π“¬«‘‚√®πå ∏’√«—≤πå«“∑’ 1/1 6/6 5/5 -

5. π“¬∏’√–»—°¥‘Ï «‘°‘μ‡»√…∞å 1/1 6/6 5/5 -

6. π“¬Õ—μ∂°√ °≈—Ëπ§«“¡¥’ 1/1 6/6 5/5 -

7. π“¬ —πμ‘ «‘≈“ »—°¥“ππ∑å 1/1 4/6 - -

8. π“¬∑πß »√’®‘μ√å 1/1 6/6 5/5 -

9. π“¬∫ÿ≠ƒ∑∏‘Ï ¡À“¡πμ√’ * 1/1 5/6 -

10. π“¬πææ√ æß…å‡«™ 1/1 6/6 - 4/4

11. æ≈μ”√«®‡Õ° ¡™“¬ ª√–¿— ¿—°¥’ 1/1 6/6 - 4/4

12. π“¬Õ¡√ Õ—»«“π—π∑å 1/1 5/6 - 3/4

13. π“¬ ÿ√ß§å Õß§å‚¶…‘μ 1/1 6/6 - 4/4

À¡“¬‡Àμÿ* ¥”√ßμ”·Àπàß°√√¡°“√ ‡¥◊Õπ¡’π“§¡ 2550

πÕ°®“°π’È ‡¡◊ËÕ‡¥◊Õπ∏—π«“§¡ 2550 °√√¡°“√∫√‘…—∑‰¥â¡’°“√ª√–‡¡‘πº≈°“√ªØ‘∫—μ‘ß“π¢Õß°√√¡°“√·≈–§≥–

°√√¡°“√∫√‘…—∑ ÷́Ëß§√Õ∫§≈ÿ¡‡°’Ë¬«°—∫π‚¬∫“¬§≥–°√√¡°“√ ‚§√ß √â“ß¢Õß§≥–°√√¡°“√ ·≈–·π«∑“ßªØ‘∫—μ‘¢Õß

§≥–°√√¡°“√ ·≈–§ÿ≥¿“æ°“√®—¥‡μ√’¬¡·≈–°“√¥”‡π‘π°“√ª√–™ÿ¡ ‡æ◊ËÕ‡ªìπ·π«∑“ß„π°“√ª√—∫ª√ÿß°“√¥”‡π‘πß“π

‚¥¬ √ÿª°“√ª√–‡¡‘πº≈¢Õß§≥–°√√¡°“√∑—Èß§≥–‡ÀÁπ«à“ °“√¥”‡π‘π°“√ à«π„À≠à®—¥∑”‰¥â¥’/‡À¡“– ¡·≈â«

ë §≥–°√√¡°“√™ÿ¥¬àÕ¬

‡æ◊ËÕ„ÀâºŸâ∂◊ÕÀÿâπ¡—Ëπ„®„π°“√¥”‡π‘πß“π¢Õß∫√‘…—∑ «à“¡’°“√¥”‡π‘πß“π∑’Ë‚ª√àß„ ¡’ºŸâ°≈—Ëπ°√Õß Õ∫∑“π·≈–„Àâ§”·π–π”

Õ¬à“ß√Õ∫§Õ∫ §≥–°√√¡°“√∫√‘…—∑®÷ß‰¥â·μàßμ—Èß§≥–°√√¡°“√™ÿ¥¬àÕ¬μà“ßÊ ‡æ◊ËÕ∑”Àπâ“∑’Ë¥—ß°≈à“« ·≈–√“¬ß“πº≈μàÕ

§≥–°√√¡°“√∫√‘…—∑ §≥–°√√¡°“√™ÿ¥¬àÕ¬„πªí®®ÿ∫—πª√–°Õ∫¥â«¬ §≥–°√√¡°“√∫√‘À“√ ·≈–§≥–°√√¡°“√μ√«® Õ∫

‚¥¬¡’¢Õ∫‡¢μÕ”π“®Àπâ“∑’Ë·≈–§«“¡√—∫º‘¥™Õ∫¢Õß§≥–°√√¡°“√·μà≈–™ÿ¥‡ªìπÕ‘ √–°—π ‡æ◊ËÕ™à«¬„π°“√°”°—∫¥Ÿ·≈°‘®°“√

¢Õß∫√‘…—∑

ë °“√æ—≤π“°√√¡°“√·≈–ºŸâ∫√‘À“√

∫√‘…—∑ àß‡ √‘¡„Àâ°√√¡°“√·≈–ºŸâ∫√‘À“√∑ÿ°§π¡’‚Õ°“ æ—≤π“§«“¡√Ÿâ ‚¥¬§≥–°√√¡°“√∫√‘…—∑„Àâ§«“¡ ”§—≠μàÕ

°“√‡¢â“√à«¡ —¡¡π“À≈—° Ÿμ√∑’Ë‡ªìπª√–‚¬™πåμàÕ°“√ªØ‘∫—μ‘Àπâ“∑’Ë°√√¡°“√ ‚¥¬‡¢â“√à«¡Õ∫√¡À≈—° Ÿμ√ Director

Accreditation Program (DAP), Director Certification Program (DCP), Audit Committee Program (ACP),

·≈– Finance for Non-Finance Director (FND) ÷́Ëß®—¥‚¥¬ ¡“§¡ àß‡ √‘¡ ∂“∫—π°√√¡°“√∫√‘…—∑‰∑¬ (IOD)

μ≈Õ¥®π°“√®—¥ —¡¡π“À≈—° Ÿμ√ —ÈπÊ Õ—π‡ªìπª√–‚¬™πå·°à°“√ªØ‘∫—μ‘Àπâ“∑’Ë¢Õß§≥–°√√¡°“√∫√‘…—∑ ·≈–√«¡∂÷ßÀ≈—° Ÿμ√

μà“ßÊ ∑’Ë IOD ®–®—¥¢÷ÈπÕ’°μàÕ‰ª„πÕπ“§μ

61

In 2007, the Board of Directors held 6 meetings. Attending the meetings by each director may besummarized as follows:

Name The The Board The Executive The Audit

Shareholdersû of Directorsû Boardûs Committeeûs

Meeting Meeting Meeting Meeting

1. Admiral Anuchit Bekanan 1/1 6/6 - -2. Mr. Boonsithi Chokwatana 1/1 6/6 - -3. Mr. Boonkiet Chokwatana 1/1 5/6 5/5 -4. Mr. Viroj Theeravatvatee 1/1 6/6 5/5 -5. Mr. Thirasak Vikitset 1/1 6/6 5/5 -6. Mr. Atthakorn Glankwamdee 1/1 6/6 5/5 -7. Mr. Santi Vilassakdanont 1/1 4/6 - -8. Mr. Tanong Srichit 1/1 6/6 5/5 -9. Mr. Boonyarith Mahamontri* 1/1 5/6 -10. Mr. Nophorn Bhongsvej 1/1 6/6 - 4/411. Pol.Gen. Somchai Prabhasabhakdi 1/1 6/6 - 4/412. Mr. Amorn Asvanunt 1/1 5/6 - 3/413. Mr. Surong Ongkosit 1/1 6/6 - 4/4Remarks: * Mr. Boonyarith Mahamontri was appointed to be the director in March 2007

Moreover, the directors assessed the performance of Directors and the Board of Directors on its policy,structure, performance, and quality on the meeting preparation and organization in order to be adirection for its improvement on the next year. All directors agreed and concluded that their performancethroughout the year is good and appropriated.

ë CommitteesIn order to assure the shareholders that the operation of the company is transparent, and is screened,reviewed, with careful consultation, the Board of Directors has appointed committees to perform suchduties and report to the Board of Directors. The present committees comprise the Executive Board andthe Audit Committee. The powers, duties and responsibilities of each committee are independent ofeach other for the benefit of supervision of the companyûs business.

ë Training of directors and executivesThe company encourages all directors and executives to improve their knowledge. The Board of Direc-tors places importance on attending courses beneficial to performance as directors, and the directorshave undergone Director Accreditation Program (DAP), Director Certification Program (DCP), AuditCommittee Program (ACP), and Finance for Non-Finance Director (FND) courses organized by theInstitute of Directors (IOD) and short-course seminars that benefit the performance of the directors,including courses to be organized in the future by the IOD.

62

∫√‘…—∑¬—ß‰¥â®—¥∑”§Ÿà¡◊Õ°√√¡°“√„Àâ°—∫°√√¡°“√„À¡à ‡æ◊ËÕ°√√¡°“√„À¡à‰¥â»÷°…“ ¢âÕ¡Ÿ≈ ”§—≠¢Õß∫√‘…—∑ π‚¬∫“¬„π°“√

°”°—∫¥Ÿ·≈°‘®°“√ ®√‘¬∏√√¡∏ÿ√°‘® ®√√¬“∫√√≥æπ—°ß“π ·≈–°Æ√–‡∫’¬∫μà“ßÊ ¢Õßμ≈∑.·≈– ”π—°ß“π§≥–°√√¡°“√

°”°—∫À≈—°∑√—æ¬å √«¡∑—Èß‡¢â“√à«¡ —¡¡π“À≈—° Ÿμ√∑’Ë‡ªìπª√–‚¬™πåμàÕ°“√ªØ‘∫—μ‘Àπâ“∑’Ë°√√¡°“√ ́ ÷Ëß®—¥‚¥¬ ¡“§¡ àß‡ √‘¡

∂“∫—π°√√¡°“√∫√‘…—∑‰∑¬ (IOD) πÕ°®“°π’È §≥–°√√¡°“√∫√‘…—∑¡’°“√æ∫ª–·≈°‡ª≈’Ë¬π§«“¡§‘¥‡ÀÁπ°—∫§≥–

°√√¡°“√∫√‘…—∑·≈–ºŸâ∫√‘À“√√–¥—∫ Ÿß¢ÕßÕß§å°√Õ◊ËπÊ Õ¬Ÿà ¡Ë”‡ ¡Õ∑—Èß„πª√–‡∑»·≈–μà“ßª√–‡∑»

ë π‚¬∫“¬„π°“√æ—≤π“æπ—°ß“π

∫√‘…—∑¡’π‚¬∫“¬À≈—°°“√æ—≤π“æπ—°ß“π∑ÿ°√–¥—∫¢ÕßÕß§å°√ „Àâ¡’§«“¡√Ÿâ§«“¡ “¡“√∂·≈–ª√– ∫°“√≥å μ√ß°—∫§«“¡

μâÕß°“√¢Õß∫√‘…—∑ ·≈– “¡“√∂æ—≤π“μπ‡Õß·≈–π”æ“Õß§å°√°â“«‰ª Ÿà§«“¡ ”‡√Á®‰¥âÕ¬à“ß¡’ª√– ‘∑∏‘¿“æ·≈–¡—Ëπ§ß ¥—ßπ—Èπ

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‡æ’¬ßæÕ∑’Ë®–¥”√ß√—°…“‰«â´÷Ëß∑√—æ¬å ‘π·≈–‡æ◊ËÕ„Àâ∑√“∫®ÿ¥ÕàÕπ‡æ◊ËÕªÑÕß°—π‰¡à„Àâ‡°‘¥°“√¥”‡π‘π°“√∑’Ëº‘¥ª°μ‘Õ¬à“ß¡’

“√– ”§—≠ §«“¡‡ÀÁπ¢Õß§≥–°√√¡°“√μ√«® Õ∫‡°’Ë¬«°—∫‡√◊ËÕßπ’Èª√“°Ø„π√“¬ß“π¢Õß§≥–°√√¡°“√μ√«® Õ∫ ÷́Ëß

· ¥ß‰«â„π√“¬ß“πª√–®”ªï·≈â«

§≥–°√√¡°“√¡’§«“¡‡ÀÁπ«à“√–∫∫°“√§«∫§ÿ¡¿“¬„π¢Õß∫√‘…—∑‚¥¬√«¡Õ¬Ÿà„π√–¥—∫∑’Ëπà“æÕ„® ·≈– “¡“√∂ √â“ß§«“¡

‡™◊ËÕ¡—ËπÕ¬à“ß¡’‡Àμÿº≈μàÕ§«“¡‡™◊ËÕ∂◊Õ‰¥â¢Õßß∫°“√‡ß‘π√«¡¢Õß∫√‘…—∑·≈–∫√‘…—∑¬àÕ¬

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The company also prepares a directorûs manual for a new director to study significant information aboutthe company, good governance policy, business ethics, code of conduct and rules and regulations of theStock Exchange of Thailand and Securities and Exchange Commission. The company requires the newdirector to undergo courses helpful to performance as a director organized by the Institute of Directors(IOD). In addition, the directors also regularly meet and exchange ideas with directors and high-rankingexecutives of other local and foreign organizations.

ë Employee development policyIt is the policy of the company to develop employees at all levels so that they have knowledge, capabilityand experience that meet the needs of the company and can develop themselves and work to thesuccess of the organization efficiently and steadily. The training and development policy thereforefocuses on the link and consistency between the position and function. In particular, the training mustbe able to be evaluated and the development should be obvious.

After training and seminar in any course, there must be evaluation before and after the training. Afterevaluation, if it does not pass the criteria, additional training will be provided.

ë Internal auditThe Board of Directors places importance on internal control at both managerial and operating levels.Dharmniti Auditing Co., Ltd. is hired to conduct audit with respect to operation, finance, functioning,computer system, utilization of the companyûs assets and to provide advice to ensure that the stipulatedguideline is observed effectively and that the internal audit is independent and can fully conductexamination and balancing. The audit results will be reported directly to the Audit Committee periodically.

In addition, the company has arranged for Dharmniti Auditing Co., Ltd. to evaluate risks, review and setmeasures to control and prevent risks that may arise, placing importance on warning signals andsignificant irregularities. Therefore investors can be confident that the company has adequate internalcontrol that can prevent and preserve its assets from damage that may arise from improper orunauthorized use and disposal. The company is in the process of establishing the Risk ManagementCommittee for the purposes of the companyûs operation.

ë Reports of the Board of DirectorsThe Board of Directors is responsible for the consolidated financial statements of the company and itssubsidiaries, financial information of the company set forth in the annual report and Form 56-1. Thosefinancial statements are prepared in accordance with the generally accepted accounting standard inThailand. Appropriate accounting policy is adopted and consistently applied. Careful discretion and thebest estimates are used in preparing financial statements. Adequate significant information has beendisclosed in the notes to the financial statements.

The Board of Directors has appointed the Audit Committee, comprising directors who are not membersof Management, to be responsible for the internal audit, so as to reasonably ensure that accountingentries are accurate, complete and adequate to maintain the companyûs assets and to find weaknesses,in order to prevent significant irregularities. The opinion of the Audit Committee in this respect isdescribed in the report of the Audit Committee presented in the annual report.

The Board is of the opinion that the overall internal control of the company is satisfactory and canreasonably create confidence in the reliability of the consolidated financial statements of the companyand its subsidiaries.

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ë §«“¡ —¡æ—π∏å°—∫ºŸâ≈ß∑ÿπ

§≥–°√√¡°“√„Àâ§«“¡ ”§—≠μàÕ°“√√“¬ß“π·≈–‡ªî¥‡º¬¢âÕ¡Ÿ≈¢Õß∫√‘…—∑∑—Èß∑’Ë‡°’Ë¬«°—∫°“√‡ß‘π·≈–¢âÕ¡Ÿ≈∑—Ë«‰ª

μ≈Õ¥®π¢âÕ¡Ÿ≈ ”§—≠∑’Ë¡’º≈°√–∑∫μàÕ√“§“À≈—°∑√—æ¬å¢Õß∫√‘…—∑ „Àâ¡’§«“¡∂Ÿ°μâÕß §√∫∂â«π ‡™◊ËÕ∂◊Õ‰¥â ·≈–‚ª√àß„ ‚¥¬

‰¥â‡º¬·æ√àºà“π™àÕß∑“ß·≈– ◊ËÕ°“√‡º¬·æ√à¢âÕ¡Ÿ≈¢Õßμ≈“¥À≈—°∑√—æ¬å·Ààßª√–‡∑»‰∑¬ ·≈–‡«Á∫‰´¥å¢Õß∫√‘…—∑∑’Ë

www.sahacogen.com

∫√‘…—∑¬—ß‰¡à‰¥â®—¥μ—ÈßÀπà«¬ß“π¥â“πºŸâ≈ß∑ÿπ —¡æ—π∏å ·μà‰¥â°”Àπ¥„Àâ°√√¡°“√ºŸâ®—¥°“√ ∑”Àπâ“∑’Ë„Àâ¢âÕ¡Ÿ≈¢à“« “√μ“¡∑’Ë

π—°≈ß∑ÿπ·≈–ºŸâ∑’Ë‡°’Ë¬«¢âÕßμâÕß°“√‚¥¬ “¡“√∂μ‘¥μàÕ‰¥â∑’Ë §ÿ≥«‘‚√®πå ∏’√«—≤πå«“∑’ μ”·Àπàß°√√¡°“√ºŸâ®—¥°“√ À¡“¬‡≈¢

‚∑√»—æ∑å 038 481555 À√◊Õ ‚∑√ “√ 038 481551 À√◊Õ∑’ËÕ’‡¡≈å [email protected]

ë °“√§«∫§ÿ¡¿“¬„π

„π°“√ª√–™ÿ¡§≥–°√√¡°“√∫√‘…—∑§√—Èß∑’Ë 1/2551 ‡¡◊ËÕ«—π∑’Ë 19 °ÿ¡¿“æ—π∏å 2551 ‚¥¬¡’°√√¡°“√μ√«® Õ∫‡¢â“√à«¡

ª√–™ÿ¡¥â«¬ §≥–°√√¡°“√∫√‘…—∑ª√–‡¡‘π§«“¡‡æ’¬ßæÕ¢Õß√–∫∫°“√§«∫§ÿ¡¿“¬„π¢Õß∫√‘…—∑„π√Õ∫ªï2550 ´÷Ëß

ºŸâμ√«® Õ∫¿“¬„π¢Õß∫√‘…—∑ §◊Õ ∫√‘…—∑ ∏√√¡π‘μ‘ ®”°—¥ ‰¥âμ√«®ª√–‡¡‘π·≈â« ·≈–¡’§«“¡‡ÀÁπ«à“∫√‘…—∑¡’°“√ªØ‘∫—μ‘„π

à«π¢Õß°“√§«∫§ÿ¡¿“¬„π∑’Ë ”§—≠∑’Ë¥’ ¡’°“√∫√‘À“√®—¥°“√§«“¡‡ ’Ë¬ßÕ¬à“ß‡æ’¬ßæÕ∑’Ë®–∑”„Àâ°“√¥”‡π‘πß“π

¢Õß∫√‘…—∑∫√√≈ÿ‡ªÑ“À¡“¬μ“¡«—μ∂ÿª√– ß§å∑’Ë«“ß‰«â ®÷ß¡’§«“¡‡ÀÁπ™Õ∫√à«¡°—π‚¥¬ √ÿª«à“ ∫√‘…—∑¡’√–∫∫°“√§«∫§ÿ¡

¿“¬„π∑’Ë‡æ’¬ßæÕ‡À¡“– ¡°—∫ ¿“æ°“√¥”‡π‘πß“π„πªí®®ÿ∫—π

1. ¥â“πÕß§å°√·≈– ¿“æ·«¥≈âÕ¡

∫√‘…—∑¡’°“√®—¥‚§√ß √â“ßÕ”π“®Àπâ“∑’Ë¢Õß§≥–°√√¡°“√ ·≈–ºŸâ∫√‘À“√·≈–æπ—°ß“π‰«âÕ¬à“ß™—¥‡®π ¡’°“√®—¥«“ß

√–∫∫ªÑÕß°—π°“√„™âÕ”π“®Àπâ“∑’Ë‰ª„π∑“ß¡‘™Õ∫ √«¡μ≈Õ¥∂÷ß¢âÕ°”Àπ¥‡°’Ë¬«°—∫®√‘¬∏√√¡∏ÿ√°‘® ®√√¬“∫√√≥

æπ—°ß“π „Àâ·°à§≥–°√√¡°“√∫√‘…—∑ ΩÉ“¬∫√‘À“√·≈–æπ—°ß“π‰«âæ÷ßªØ‘∫—μ‘ ∑—Èß„π°√Õ∫¢Õß∫√‘…—∑ ·≈–∫√‘…—∑¬àÕ¬

‡™◊ËÕ‰¥â«à“ “¡“√∂ªÑÕß°—π°“√π”∑√—æ¬å ‘π¢Õß∫√‘…—∑‰ª„™â‚¥¬¡‘™Õ∫À√◊Õ‚¥¬¡’Õ”π“®‰¡à‡æ’¬ßæÕ‰¥â

2. ¥â“π°“√∫√‘À“√§«“¡‡ ’Ë¬ß

∫√‘…—∑¡’°“√∫√‘À“√®—¥°“√§«“¡‡ ’Ë¬ßμ“¡≈—°…≥–‡À¡“– ¡·≈–ª√–‡¿∑¢Õß§«“¡‡ ’Ë¬ß‚¥¬ª√–‡¡‘≥®“°ªí®®—¬¿“¬„π

¿“¬πÕ° ‡æ◊ËÕÀ“¡“μ√“°“√ªÑÕß°—π·≈–∫√‘À“√§«“¡‡ ’Ë¬ß„ÀâÕ¬Ÿà„π√–¥—∫∑’ËÕß§å°√¬Õ¡√—∫‰¥â ·≈–‰¡à àßº≈°√–∑∫

μàÕ°“√¥”‡π‘πß“π¢Õß∫√‘…—∑‡ªìπ ”§—≠

3. ¥â“π°“√§«∫§ÿ¡°“√ªØ‘ß“π¢ÕßΩÉ“¬∫√‘À“√

∫√‘…—∑¡’°“√°”Àπ¥√–¥—∫Õ”π“®°“√Õπÿ¡—μ‘·≈–·∫àß·¬°Àπà«¬ß“π„π≈—°…≥– àß‡ √‘¡°“√ª√– “πß“π·≈–∂à«ß¥ÿ≈

°“√„™âÕ”π“® ¡’°“√°”Àπ¥¢Õ∫‡¢μÕ”π“®·≈–«ß‡ß‘πÕπÿ¡—μ‘¢ÕßΩÉ“¬∫√‘À“√·μà≈–√–¥—∫‰«â‡ªìπ≈“¬≈—°…≥åÕ—°…√

æ√âÕ¡∑—Èß·∫àß·¬°Àπâ“∑’Ë·≈–§«“¡√—∫º‘¥™Õ∫‰«â ¡’°“√°”Àπ¥«‘∏’°“√‡¢â“∑”∏ÿ√°√√¡∑’Ë‡°’Ë¬«‚¬ß°—πμ“¡ª√–°“»¢Õß

§≥–°√√¡°“√μ≈“¥À≈—°∑√—æ¬å·Ààßª√–‡∑»‰∑¬°—∫∫ÿ§§≈∑’Ë‡°’Ë¬«‚¬ß°—π‰«âÕ¬à“ß™—¥‡®π §≥–°√√¡°“√∫√‘…—∑‰¥â√—∫

√“¬ß“π·≈–∑”°“√μ√«® Õ∫∑∫∑«πº≈°“√ªØ‘∫—μ‘ß“π¢ÕßΩÉ“¬∫√‘À“√‡ªìπª√–®” ¡Ë”‡ ¡Õ

4. ¥â“π√–∫∫ “√ π‡∑»·≈–°“√ ◊ËÕ “√¢âÕ¡Ÿ≈

∫√‘…—∑®—¥„Àâ¡’°“√ ◊ËÕ “√∑—Èß¿“¬„π·≈–¿“¬πÕ°Õß§å°√Õ¬à“ß¡’ª√– ‘∑∏‘¿“æ ¡’°“√®—¥‡°Á∫‡Õ° “√ª√–°Õ∫°“√∫—π∑÷°

∫—≠™’‰«â§√∫∂â«π‡ªìπÀ¡«¥À¡Ÿà ·≈–„™âπ‚¬∫“¬∫—≠™’μ“¡À≈—°°“√∫—≠™’√—∫√Õß∑—Ë«‰ª ¡’°“√π” Software ¡“„™â‡æ◊ËÕ

‡ √‘¡ª√– ‘∑∏‘¿“æ„π°“√«“ß·ºπ°“√„™â∑√—æ¬“°√ ·≈–°“√∫√‘À“√¢âÕ¡Ÿ≈∑“ß°“√∫—≠™’ °“√‡ß‘π °“√´◊ÈÕ °“√¢“¬

°“√∫√‘À“√ ‘π§â“§ß§≈—ß ·≈–¢âÕ¡Ÿ≈°“√«“ß·ºπ°“√º≈‘μ ‡æ◊ËÕ„Àâ ‰¥â¢âÕ¡Ÿ≈∑’Ë∂Ÿ°μâÕß √«¥‡√Á« ¡’§«“¡·¡àπ¬” ´÷Ëß®–

∑”„ÀâΩÉ“¬∫√‘À“√√—∫√Ÿâ¢âÕ¡Ÿ≈·≈– “¡“√∂μ—¥ ‘π„®‰¥âÕ¬à“ß√«¥‡√Á« æ√âÕ¡∑—Èß¡’¡“μ√°“√‡æ◊ËÕ§«“¡ª≈Õ¥¿—¬¢Õß√–∫∫

“√ π‡∑» ‚¥¬‰¥â«“ß¡“μ√°“√ªÑÕß°—π§«“¡‡ ’Ë¬ß∑’ËÕ“®®–‡°‘¥¢÷Èπ®“°√–∫∫ “√ π‡∑»¥â«¬‡™àπ°—π

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ë Relationship with investorsThe Board of Directors places importance on reporting and disclosure of the companyûs information onfinance and general matters as well as significant information affecting the price of the companyûssecurities, to ensure such informationûs accuracy, completeness, reliability and transparency. Theinformation is publicized through the reporting channel of the Stock Exchange of Thailand and thecompanyûs website at www.sahacogen.com.

The company has not yet established an investor relation department, but has designated the ManagingDirector to provide information as required by investors and those concerned by contacting Mr. VirojTheeravatvatee, Managing Director, tel. 038 481555 or fax 038 481551 or email [email protected].

ë Internal controlAt the Board of Directors Meeting No. 1/2008, held on February 19, 2008, at which the Audit Committeewere also present, the Board of Directors evaluated the adequacy of the companyûs internal control in2007 as evaluated by the companyûs internal auditor, Dharmniti Auditing Co., Ltd. Dharmniti Auditing Co.,Ltd. considered that the company has good internal control, adequate risk management to ensure thatthe company will achieve its goals. It was therefore concluded by the Board that the company hasadequate internal control that is appropriate to present circumstances.1. Organization and environment

The company has set up clear structure of powers and duties of the Board of Directors, Manage-ment and employees. Systems are established to prevent abuse of powers and duties. There arerequirements on business ethics, code of conduct for compliance by the Board of Directors,Management and employees within the company and its subsidiaries. It is therefore believable thatthis can prevent abusive or unauthorized utilization of the companyûs assets.

2. Risk managementThe company manages risks according to the nature, suitability and type of risks, by evaluatinginternal and external factors, in order to find measures to prevent and manage risks so that they areat the level acceptable to the organization and not to impact the operation of the company.

3. Control of performance of ManagementThe company designates the levels of approval powers and separate departments in a way thatpromotes coordination and balancing of power. Scope of authority and amount of money within theapproval power of each level of Management are designated in writing together with division ofduties and responsibilities. Procedure of connected transactions is clearly stipulated in accordancewith the notification of the Stock Exchange of Thailand. The Board of Directors regularly receivesreports from, and reviews performance of, Management.

4. Information technology and communicationThe company secures efficient communications within and outside the organization. Accountingentry supporting documents are kept completely and systematically, and generally accepted ac-counting principle is applied. Software are used to enhance the planning of resource utilization andmanagement of accounting, financial, purchase, sale, inventory and production planning data, so asto obtain accurate, prompt and precise data. This will enable Management to be informed and beable to promptly make decisions. Safety measures for information system are put in place as wellas measures for prevention of risks that may arise from the information system.

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„π°“√ª√–™ÿ¡§≥–°√√¡°“√·≈–ºŸâ∂◊ÕÀÿâπ ∫√‘…—∑¡’°“√®—¥ àß®¥À¡“¬‡™‘≠ª√–™ÿ¡æ√âÕ¡∑—Èß¡’¢âÕ¡Ÿ≈ª√–°Õ∫∑’Ë‡æ’¬ßæÕ

μàÕ°“√μ—¥ ‘π„® μ“¡√–¬–‡«≈“∑’Ë°ÆÀ¡“¬°”Àπ¥ æ√âÕ¡∑—Èß¡’°“√∫—π∑÷°√“¬ß“π°“√ª√–™ÿ¡∑’Ë¡’ “√– ”§—≠§√∫∂â«π

·≈–∫—π∑÷°§«“¡‡ÀÁπ¢Õß°√√¡°“√·≈–ºŸâ∂◊ÕÀÿâπ„π‡√◊ËÕß∑’Ëæ‘®“√≥“‰«â‡ªìπ¡μ‘¢Õß«“√–°“√ª√–™ÿ¡‚¥¬√«¡ À“°¡’

¢âÕ´—°∂“¡À√◊Õ§«“¡‡ÀÁπ‰¡àμ√ß°—π®–∫—π∑÷°‰«â„π√“¬ß“π°“√ª√–™ÿ¡

5. ¥â“π√–∫∫°“√μ‘¥μ“¡

∫√‘…—∑¡’°“√°”Àπ¥‡ªÑ“À¡“¬°“√¥”‡π‘πß“π·≈–‡ª√’¬∫‡∑’¬∫º≈°“√¥”‡π‘πß“π„Àâ‡ªìπ‰ªμ“¡‡ªÑ“À¡“¬ À“°¡’§«“¡

·μ°μà“ß®–¥”‡π‘π°“√·°â ‰¢À√◊Õª√—∫‡ª≈’Ë¬π·ºπ°“√¥”‡π‘πß“π„Àâ∑—π‡«≈“·≈–‡À¡– ¡°—∫ ∂“π°“√≥å Õ’°∑—Èß

¡’°“√μ√«® Õ∫°“√ªØ‘∫—μ‘ß“πμ“¡√–∫∫§«∫§ÿ¡¿“¬„π∑’Ë«“ß‰«âÕ¬à“ß ¡Ë”‡ ¡Õ‚¥¬Àπà«¬ß“πμ√«® Õ∫¿“¬„π

·≈–°”Àπ¥„Àâ¡’°“√√“¬ß“πº≈°“√μ√«® Õ∫μ√ßμàÕ§≥–°√√¡°“√μ√«® Õ∫ À“°æ∫¢âÕ∫°æ√àÕß∑’Ë¡’π—¬ ”§—≠

§≥–°√√¡°“√μ√«® Õ∫μâÕß√“¬ß“πμàÕ§≥–°√√¡°“√∫√‘…—∑ ‡æ◊ËÕæ‘®“√≥“ —Ëß°“√·°â ‰¢¿“¬„π√–¬–‡«≈“Õ—π§«√

®“°°“√ª√–‡¡‘π√–∫∫°“√§«∫§ÿ¡¿“¬„π¢Õß∫√‘…—∑„π¥â“πμà“ßÊ 5 à«π¥—ß°≈à“«¢â“ßμâπ §≥–°√√¡°“√‡ÀÁπ«à“ ∫√‘…—∑

¡’√–∫∫°“√§«∫§ÿ¡¿“¬„π∑’Ë¡’§«“¡‡À¡“– ¡·≈–‡æ’¬ßæÕ·≈â« ·≈–§≥–°√√¡°“√∫√‘…—∑μ√–Àπ—°¥’«à“ √–∫∫°“√

§«∫§ÿ¡¿“¬„π„¥Ê °Áμ“¡Õ“®®–‰¡à “¡“√∂√—∫ª√–°—π‰¥â∑—ÈßÀ¡¥μàÕ§«“¡‡ ’¬À“¬Õ—π‡°‘¥®“°§«“¡º‘¥æ≈“¥∑’Ë‡ªìπ

“√– ”§—≠·μà°Á “¡“√∂ªÑÕß°—πÀ√◊Õ√—∫ª√–°—π‰¥â „π√–¥—∫∑’Ë ¡‡Àμÿ ¡º≈

67

For Board of Directors meetings and shareholdersû meetings, the company sends notice togetherwith adequate supporting information for decision making, within the period required by law.Minutes of meeting with full material contents are prepared. Resolutions and opinions of directorsand shareholders are recorded in the minutes together with questions and dissenting opinions.

5. MonitoringThe company sets goals and compares the actual performance against the goals. In case of anydifference, action plan will be corrected or adjusted in a timely manner and appropriately to thesituation. Examination of performance according to the internal control designated is conductedregularly by the internal audit department, and audit result must be reported directly to the AuditCommittee. If any significant defect is found, the Audit Committee must report the same to theBoard of Directors for an order of corrections within an appropriate time.

From the evaluation of the 5 aspects of the companyûs internal control described above, the Boardof Directors is of the opinion that the company has appropriate and adequate internal control. TheBoard also recognizes that any internal control may not guarantee that there will be no damagefrom significant errors but that damage can be prevented or remedied at a reasonable level.

°‘®°√√¡·≈–§«“¡√—∫º‘¥™Õ∫μàÕæπ—°ß“π ™ÿ¡™π —ß§¡·≈– ‘Ëß·«¥≈âÕ¡

∫√‘…—∑ À‚§‡®π (™≈∫ÿ√’) ®”°—¥ (¡À“™π) ‰¥âμ√–Àπ—°∂÷ß∫∑∫“∑Àπâ“∑’Ë·≈–§«“¡√—∫º‘¥™Õ∫μàÕ —ß§¡ ™ÿ¡™π·≈– ‘Ëß·«¥≈âÕ¡

‚¥¬¡‘‰¥â§”π÷ß∂÷ß‡©æ“–º≈ª√–°Õ∫°“√¢Õß∫√‘…—∑‡∑à“π—Èπ ®÷ß‰¥â¡ÿàß¡—Ëπ·≈–π”π‚¬∫“¬·≈–°“√∫√‘À“√®—¥°“√μà“ßÊ ¡“„™â‡æ◊ËÕ

„Àâ √â“ß √√§å æ—≤π“·≈–°àÕ„Àâ‡°‘¥º≈ª√–‚¬™πåμàÕºŸâ¡’ à«π‰¥â‡ ’¬‚¥¬√«¡ ‰¡à«à“®–‡ªìπæπ—°ß“π ≈Ÿ°®â“ß §Ÿà§â“ ºŸâ∂◊ÕÀÿâπ ™ÿ¡™π

—ß§¡·≈– ‘Ëß·«¥≈âÕ¡

°‘®°√√¡·≈–§«“¡√—∫º‘¥™Õ∫μàÕæπ—°ß“πë °“√∫√‘À“√®—¥°“√¥â“π§ÿ≥¿“æ·≈– ‘Ëß·«¥≈âÕ¡

∫√‘…—∑¡’°“√ª√—∫ª√ÿß·≈–μ√«® Õ∫√–∫∫°“√∫√‘À“√®—¥°“√∑—Èß¥â“π§ÿ≥¿“æ·≈– ‘Ëß·«¥≈âÕ¡Õ¬à“ßμàÕ‡π◊ËÕß ¡Ë”‡ ¡Õ ‡æ◊ËÕ

„Àâ°“√¥”‡π‘πß“π‡ªìπ‰ªÕ¬à“ß¡’√–∫∫·≈–μ√«® Õ∫‰¥â ¡’°“√ª√–‡¡‘πº≈·≈–μ‘¥μ“¡°“√μ√«® Õ∫ ¡’°“√μ√«®«—¥

§ÿ≥¿“æ ‘Ëß·«¥≈âÕ¡ ‡™àπ πÈ” Õ“°“» ‡ ’¬ß ÷́Ëßª√“°Øº≈‡ªìπ‰ªμ“¡∑’Ë°ÆÀ¡“¬°”Àπ¥ ∑”„Àâ∫√‘…—∑‰¥â√—∫°“√√—∫√Õß

√–∫∫∫√‘À“√ß“π§ÿ≥¿“æμ“¡¡“μ√∞“π ISO 9001: 2000 ·≈–°“√√—∫√Õß√–∫∫°“√®—¥°“√ ‘Ëß·«¥≈âÕ¡ ISO 14001:2004

®“° ∂“∫—π√—∫√Õß¡“μ√∞“π‰Õ‡Õ ‚Õ (MASCI) √«¡∑—Èß‰¥â√—∫√“ß«—≈ ∂“πª√–°Õ∫°“√∑’ËªØ‘∫—μ‘μ“¡¡“μ√°“√„π

√“¬ß“π°“√«‘‡§√“–Àåº≈°√–∑∫μàÕ ‘Ëß·«¥≈âÕ¡·≈–¡’°“√®—¥°“√ ¿“æ·«¥≈âÕ¡¥’‡¥àπ ª√–®”ªï 2550 ª√–‡¿∑

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·≈– ‘Ëß·«¥≈âÕ¡ ‡¡◊ËÕ«—π∑’Ë 21 ∏—π«“§¡ 2550

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ª√–‡¥Áπ§«“¡‡ ’Ë¬ß·≈–®—¥∑”·ºπß“π∫√‘À“√§«“¡ª≈Õ¥¿—¬ ¡’°“√®—¥°‘®°√√¡ àß‡ √‘¡‡æ◊ËÕ°√–μÿâπ®‘μ ”π÷° ∑“ß¥â“π

Õ“™’«Õπ“¡—¬·≈–§«“¡ª≈Õ¥¿—¬Õ¬à“ß ¡Ë”‡ ¡Õ

ë °“√ªÑÕß°—πªí≠À“¬“‡ æμ‘¥∫√‘…—∑„Àâ§«“¡ ”§—≠°—∫°“√ªÑÕß°—πªí≠À“¬“‡ æμ‘¥·≈–μÕ∫ πÕßπ‚¬∫“¬¢Õß√—∞∫“≈„π°“√ªÑÕß°—π·≈–·°â ‰¢ªí≠À“

¬“‡ æμ‘¥„π ∂“πª√–°Õ∫°“√Õ¬à“ß‡§√àß§√—¥ ®÷ß¡’°“√®—¥Õ∫√¡„Àâ§«“¡√Ÿâ‡°’Ë¬«°—∫‚∑…·≈–¿—¬¢Õß¬“‡ æμ‘¥ μ√«®

ÿ¢¿“æ·≈– ÿà¡μ√«® “√‡ æμ‘¥„πªí “«–¢Õßæπ—°ß“π ®—¥°‘®°√√¡μà“ßÊ ‡æ◊ËÕ„Àâæπ—°ß“π‰¥â„™â‡«≈“«à“ß„Àâ‡°‘¥ª√–‚¬™πå

∑”„Àâ∫√‘…—∑‰¥â√—∫‡°’¬√μ‘∫—μ√‚√ßß“π ’¢“«ª≈Õ¥¬“‡ æμ‘¥ μ—Èß·μà«—π∑’Ë 21 °√°Æ“§¡ 2547 ®π∂÷ßªí®®ÿ∫—π

ë °‘®°“√¡‡æ◊ËÕ°“√æ—≤π“∫ÿ§≈“°√∫√‘…—∑¡ÿàß‡πâπ·≈–‡ √‘¡ √â“ß§«“¡·¢Áß·°√àß„Àâ°—∫∑√—æ¬“°√∫ÿ§§≈ „Àâ¡’§«“¡ “¡“√∂„π°“√·¢àß¢—π·≈–º≈—°¥—π„Àâ°“√

ª√–°Õ∫∏ÿ√°‘®ª√– ∫§«“¡ ”‡√Á®μ“¡°≈¬ÿ∑∏å·≈–‡ªÑ“À¡“¬¢ÕßÕß§å°√ ‚¥¬¡’°“√ √√À“∫ÿ§≈“°√∑’Ë¡’§ÿ≥¿“æ·≈–∑—»π§μ‘

∑’Ë¥’ ¡’°“√°”Àπ¥·≈–∑”§«“¡‡¢â“„®„πÀπâ“∑’Ë°“√∑”ß“π∑’Ë™—¥‡®π

¡’°“√ª√–‡¡‘πº≈°“√ªØ‘∫—μ‘ß“π·≈–®Ÿß„®∫ÿ§≈“°√„Àâ¡ÿàß¡—Ëπ

· «ßÀ“§«“¡√Ÿâ æ—≤π“μπ‡ÕßÕ¬à“ß ¡Ë”‡ ¡Õ ¡’°“√®—¥Ωñ°Õ∫√¡

∑—Èß¿“¬„π·≈–¿“¬πÕ° ·≈– àß‡ √‘¡„Àâ¡’°“√‡√’¬π√Ÿâ¥â«¬μπ‡Õß

‚¥¬¡’°“√®—¥∑”ÀâÕß ¡ÿ¥∑’Ë¡’Àπ—ß ◊Õ„πÀ≈“°À≈“¬√Ÿª·∫∫

Social Activities, Communityand Environmental Responsibility

The company is committed to an ethical policy and conducted several management systems to developand bring the most benefits to the persons concerned, including employees, suppliers, shareholders, public,social and environment.

Activities and Responsibility to Employeesë Quality and Environmental Management

The company has consistently encourages the continual improvement of the environmentalmanagement system and also frequently assess, audit all systems, including alleviating anyenvironmental impacts by closely monitoring water and air quality, noise level to assure the compliancewith the law and applied to the ISO 14001. Such proactive performance allows the company tosecure the certification ISO 9001:2000 for the quality management system and 14001:2004 for theenvironmental management system from the Management System Certification Institution (Thailand)(MASCI). Moreover, the company was recognized and awarded as an outstanding enterprise in thepower industry that implements the appropriate prevention and mitigative measure in compliance withthe environmental impact assessment reports and outstanding environmental management practice inthe EIA Monitor Awards 2007 by the Ministry of Natural Resources and Environment on December21, 2007.

ë Safety and Occupational Health ManagementAs occupational health and safety are vital factor to working efficiently, the company therefore focuseson improving the quality of occupational health, safety, fire protection and suppression. The plannedevacuation and fire drill is annually conducted and persons in charge of safety are assigned, such ascommittee of safety and sanitation, safety officer on supervisor level, first aid officers, etc. Moreover, thecompany steadily reviews any risk factors and risk management, and promotes activities in developingand enhancing employeeûs consciousness in sanitation and safety on regularly basis.

ë Drugs PreventionThe company takes full responsibility to support the government policy in preventing and solving drugaddict in the working place. The employees are trained and educated in drugs danger and offence. Thecompany supports health check and random urine check. Various activities are provided to encourageemployees utilizing their leisure time. As the result, the company has been qualified to a WhiteFactory since July 21, 2004 till the present.

ë Human Resource DevelopmentThe company recruits candidates based on the suitability of each position. The employeesûcompetences are assessed via performance evaluation program and then raised by bothinside and outside trainings. The company also urges them on self-learning by providingvarious reference books and magazines in thecompany library.

πÕ°‡Àπ◊Õ®“°°“√æ—≤π“»—°¬¿“æ¢Õß∫ÿ§≈“°√ ∫√‘…—∑‰¥â¥”‡π‘π°“√‡æ‘Ë¡§ÿ≥¿“æ·≈– ¿“æ·«¥≈âÕ¡°“√∑”ß“π °“√®—¥μ—Èß

°Õß∑ÿπ ”√Õß‡≈’È¬ß™’æ ·≈– «— ¥‘°“√μà“ßÊ ‡æ◊ËÕ‡ªìπ¢«—≠·≈–°”≈—ß„®μàÕæπ—°ß“π π—∫ πÿπ°‘®°√√¡°’Ã“ ß“π√◊Ëπ‡√‘ß

„π«—π ”§—≠μà“ßÊ ‡æ◊ËÕ‡ √‘¡ √â“ß§«“¡ —¡æ—π∏åÕ—π¥’√–À«à“ßæπ—°ß“π √«¡∂÷ß°“√®—¥π‘∑√√»°“√‡æ◊ËÕ‡º¬·æ√à§«“¡√Ÿâ‡°’Ë¬«°—∫

ª√–°—π —ß§¡ ¬“‡ æμ‘¥

°‘®°√√¡·≈–§«“¡√—∫º‘¥™Õ∫μàÕ —ß§¡ë ‘Ëß·«¥≈âÕ¡·≈–°“√Õπÿ√—°…åæ≈—ßß“π

πÕ°‡Àπ◊Õ®“°°“√π”√–∫∫°“√®—¥°“√ ‘Ëß·«¥≈âÕ¡μ“¡¡“μ√“∞“π ISO 14001:2004 ‡¢â“¡“ªØ‘∫—μ‘°“√„πæ◊Èπ∑’Ë‚√ß‰øøÑ“

∑—ÈßÀ¡¥ ‡æ◊ËÕ§«∫§ÿ¡º≈°√–∑∫∑—Èß∑“ßπÈ” Õ“°“» ·≈–‡ ’¬ß „Àâ¥’°«à“À√◊Õ‡ªìπ‰ªμ“¡‡°≥±å∑’Ë°”Àπ¥¢Õß°ÆÀ¡“¬·≈â«

∫√‘…—∑¬—ß„Àâ§«“¡ ”§—≠°—∫°“√Õ¬Ÿà√à«¡°—π°—∫™ÿ¡™π√Õ∫Ê ‚√ß‰øøÑ“ ·≈–¡’°“√¡’ à«π√à«¡ √â“ß‡ √‘¡ —ß§¡‚¥¬√«¡ ‚¥¬

„Àâ°“√ π—∫ πÿπ°‘®°√√¡™ÿ¡™πÕ¬à“ßμàÕ‡π◊ËÕß Õ’°∑—Èß‰¥â¡’°“√ª≈Ÿ°Ωíß®‘μ ”π÷°∑’Ë¥’·≈–§«“¡√—∫º‘¥™Õ∫μàÕ —ß§¡„Àâ·°àæπ—°ß“π

°“√ª√—∫°≈¬ÿ∑∏å∑“ß∏ÿ√°‘®‡¢â“ Ÿà¿“§°“√„™âæ≈—ßß“πÀ¡ÿπ‡«’¬π ‡æ◊ËÕ≈¥¿“«–‚≈°√âÕπμ“¡π‚¬∫“¬¢Õß√—∞ ‚¥¬∫√‘…—∑„Àâ°“√

π—∫ πÿππ‚¬∫“¬¢Õß√—∞Õ¬à“ß®√‘ß®—ß ¡’°“√®—¥∑” ◊ËÕª√–™“ —¡æ—π∏å√≥√ß§å √â“ß®‘μ ”π÷°æπ—°ß“π„π°“√ª√–À¬—¥æ≈—ßß“π

√«¡∂÷ß°“√®—¥Õ∫√¡ —¡¡π“∫”√ÿß√—°…“√–∫∫‰øøÑ“‡æ◊ËÕ°“√ª√–À¬—¥æ≈—ßß“π„Àâ°—∫≈Ÿ°§â“¿“¬„π «πÕÿμ “À°√√¡‡§√◊Õ

Àæ—≤πå-»√’√“™“

ë °“√»÷°…“∫√‘…—∑„Àâ°“√ π—∫ πÿπ·≈– àß‡ √‘¡°‘®°√√¡μà“ßÊ ·°à ∂“∫—π°“√»÷°…“‚¥¬μ≈Õ¥ ‡™àπ °“√¡Õ∫∑ÿπ°“√»÷°…“„Àâ°—∫π—°‡√’¬π

‡√’¬π¥’ ¡’§«“¡ª√–æƒμ‘¥’ À√◊Õ‡¥Á°¥âÕ¬‚Õ°“ °“√ π—∫ πÿπÕÿª°√≥å°’Ã“√«¡∑—ÈßÕÿª°√≥å∑’Ë‡°’Ë¬«¢âÕß°—∫°“√‡√’¬π

°“√ Õπ °“√‡¢â“‰ª¡’ à«π√à«¡„π°“√®—¥ß“π«—π‡¥Á° ‡ªìπμâπ Õ’°∑—Èß¬—ß‰¥â‡ªî¥‚Õ°“ „Àâπ—°‡√’¬π·≈–π—°»÷°…“®“° ∂“∫—π

μà“ßÊ ‡¢â“√—∫°“√Ωñ°ß“π„πÀ≈“¬ “¢“ ‡æ◊ËÕ„Àâπ—°‡√’¬π·≈–π—°»÷°…“‡À≈à“π’È ‰¥â‡√’¬π√Ÿâ·≈–¡’ª√– ∫°“√≥å®“°°“√∑”ß“π

®√‘ß„π ∂“πª√–°Õ∫°“√ πÕ°®“°π’È ¬—ß‡ªî¥‚Õ°“ „Àâ§≥–Õ“®“√¬å·≈–π—°»÷°…“®“° ∂“∫—πμà“ßÊ ‡¢â“‡¬’Ë¬¡™¡°√–∫«π

°“√º≈‘μ°√–· ‰øøÑ“·≈–‰ÕπÈ” ‡æ◊ËÕ‡ªìπ°“√‡æ‘Ë¡æŸπ§«“¡√Ÿâ·≈–ª√– ∫°“√≥å„Àâ·°à§≥–ºŸâ‡¢â“™¡

ë °‘®°√√¡Õ—π‡ªìπª√–‚¬™πåμàÕ —ß§¡·≈–™ÿ¡™π∫√‘…—∑„Àâ°“√ π—∫ πÿπ¡Ÿ≈π‘∏‘ Õß§å°√ ¡“§¡·≈–Àπà«¬ß“π∑’Ë¥”‡π‘πß“π‡æ◊ËÕª√–‚¬™πåμàÕ —ß§¡ à«π√«¡¡“‚¥¬μ≈Õ¥

‡æ◊ËÕ„ÀâÀπà«¬ß“π‡À≈à“π’È¬—ß§ß¥”‡π‘π°‘®°√√¡‡æ◊ËÕ “∏“√≥ª√–‚¬™πå‰¥âÕ¬à“ßμàÕ‡π◊ËÕß ·≈–¬—ß„Àâ§«“¡ ”§—≠μàÕ

°‘®°√√¡Õ—π‡ªìπª√–‚¬™πåμàÕ —ß§¡·≈–™ÿ¡™π ‚¥¬‡¢â“‰ª¡’ à«π√«¡„π°“√ π—∫ πÿπ°‘®°√√¡°“√¥”‡π‘πß“π¢Õß™ÿ¡™π

·≈–°“√·¢àß¢—π°’Ã“„Àâ°—∫™ÿ¡™π °“√√à«¡°—∫™ÿ¡™π„π°“√®—¥ß“πμ“¡ª√–‡æ≥’μà“ßÊ ‡æ◊ËÕ°“√ ◊∫ “π·≈–Õπÿ√—°…å

«—≤π∏√√¡ª√–‡æ≥’‰∑¬ √«¡∑—Èß°“√√à«¡∑”πÿ∫”√ÿßæ√–æÿ∑∏»“ π“ ¥â«¬°“√√à«¡∑Õ¥°∞‘π ∑Õ¥ºâ“ªÉ“„Àâ°—∫«—¥„π

™ÿ¡™π„°≈â‡§’¬ß·≈–μ“¡™π∫∑μà“ßÊ ‡ªìπª√–®”∑ÿ°ªï

The company enhances not only develops the human resource development but also working environ-ment and safety. Employeesû fringe benefits and provident fund are provided. The company also pro-motes the employees relationship by supporting sports and celebrations on appropriate occasions.

Corporate Social Responsibilityë Environment and Energy Conservation

In addition to the implementation of the environmental management system ISO 14001:2004 thecompany consistently motivates all its employee to be aware of the importance of the effectiveenvironment control and energy conservation. Moreover, the company also extends its business tocover renewable energy business which is a part of the governmentally supported global warmingreduction program

To support the government policy on energy conservation campaign, the company has set up variousmedia and activities including energy conservation seminar to encourage employees and the customerslocated in the Sriracha Saha Group Industrial Park.

ë EducationRecognizing the value of education, the company has given monetary supports to several academicinstitutions in various forms such as scholarships, sport wears and apparatus, etc. Moreover,the company allows students from colleges or institutions be trained in various field. The company alsowelcomes instructors and students group to visit the power plant to enrich their knowledge in electricityand steam production.

ë Social and CommunitiesThe company has allocated an annual budget to support foundation, organization, association, andothers. The company takes participation and support any activities beneficially to local communities,such as Buddhism fostering, Kathin offering, leaving offerings for the priests at the nearby and ruraltemples.

72

√ÿªº≈ª√–°Õ∫°“√·≈–∞“π–∑“ß°“√‡ß‘π

√ÿªº≈ª√–°Õ∫°“√·≈–∞“π–∑“ß°“√‡ß‘π(Àπà«¬ : æ—π∫“∑)

º≈°“√¥”‡π‘πß“π 2550 2549 2548

¢“¬ 2,806,237 2,812,044 2,407,157√“¬‰¥â√«¡ 2,812,738 2,825,137 2,409,154

μâπ∑ÿπ¢“¬·≈–§à“∫√‘À“√¥”‡π‘π°“√ 2,341,022 2,321,742 2,000,058

¥Õ°‡∫’È¬®à“¬ 135,498 134,722 96,197

°”‰√°àÕπÀ—°¿“…’ 336,218 368,673 312,899

¿“…’‡ß‘π‰¥â 24,616 654 0

°”‰√ ÿ∑∏‘ 311,602 368,019 312,899

∞“π–°“√‡ß‘π

‘π∑√—æ¬åÀ¡ÿπ‡«’¬π 803,869 946,160 847,442

‘π∑√—æ¬å∂“«√ 4,115,124 4,216,383 4,215,933

‘π∑√—æ¬å√«¡ 4,918,993 5,162,543 5,063,375

Àπ’È ‘πÀ¡ÿπ‡«’¬π 619,817 639,470 489,620

Àπ’È ‘π‰¡àÀ¡ÿπ‡«’¬π 2,408,100 2,657,100 2,884,800

∑ÿπ‡√◊ÕπÀÿâπ 955,000 955,000 955,000

à«π¢ÕßºŸâ∂◊ÕÀÿâπ 1,891,075 1,865,973 1,688,955

73

Performance Summary and Financial Hightlights

PERFORMANCE SUMMARY AND FINANCIAL HIGHTLIGHTS(Unit : Baht ù000)

Operational Highlights 2007 2006 2005

Sales 2,806,237 2,812,044 2,407,157

Total Revenues 2,812,738 2,825,137 2,409,154

Cost of Sales and Expenses 2,341,022 2,321,742 2,000,058

Interest 135,498 134,722 96,197

Earning Before Tax 336,218 368,673 312,899

Income Tax 24,616 654 0

Net Income 311,602 368,019 312,899

Financial Highlights

Current Assets 803,869 946,160 847,442

Fixed Assets 4,115,124 4,216,383 4,215,933

Total Assets 4,918,993 5,162,543 5,063,375

Current Liabilities 619,817 639,470 489,620

Non-Current Liabilities 2,408,100 2,657,100 2,884,800

Share Capital Fully Paid 955,000 955,000 955,000

Shareholdersû Equity 1,891,075 1,865,973 1,688,955

74

Õ—μ√“ à«π∑“ß°“√‡ß‘π

μ“√“ß· ¥ßÕ—μ√“ à«π∑“ß°“√‡ß‘π

Õ—μ√“ à«π ¿“æ§≈àÕß 2550 2549 2548

Õ—μ√“ à«π ¿“æ§≈àÕß 1.30 1.48 1.73 ‡∑à“

Õ—μ√“ à«π ¿“æ§≈àÕßÀ¡ÿπ‡√Á« 1.06 1.24 1.42 ‡∑à“

Õ—μ√“ à«π ¿“æ§≈àÕß°√–· ‡ß‘π ¥ 1.00 1.41 0.24 ‡∑à“

Õ—μ√“ à«πÀ¡ÿπ‡«’¬π≈Ÿ°Àπ’È°“√§â“ 7.57 7.79 7.37 ‡∑à“

√–¬–‡«≈“‡°Á∫Àπ’È‡©≈’Ë¬ 47.58 46.19 48.87 «—π

Õ—μ√“ à«πÀ¡ÿπ‡«’¬π ‘π§â“§ß‡À≈◊Õ - - - «—π

√–¬–‡«≈“¢“¬ ‘π§â“‡©≈’Ë¬ - - - «—π

Õ—μ√“ à«πÀ¡ÿπ‡«’¬π‡®â“Àπ’È 7.51 10.56 16.33 ‡∑à“

√–¬–‡«≈“™”√–Àπ’È 47.91 34.08 22.04 «—π

√Õ∫‡«≈“‡ß‘π ¥ -0.33 12.11 26.83 «—π

Õ—μ√“ à«π· ¥ß§«“¡ “¡“√∂„π°“√À“°”‰√

Õ—μ√“°”‰√¢—Èπμâπ 20.99 20.68 19.82 %

Õ—μ√“°”‰√®“°°“√¥”‡π‘πß“π 16.81 17.90 17.00 %

Õ—μ√“°”‰√Õ◊Ëπ 0.23 0.46 0.08 %

Õ—μ√“ à«π‡ß‘π ¥μàÕ°“√∑”°”‰√ 132.97 158.36 29.40 %

Õ—μ√“°”‰√ ÿ∑∏‘ 11.08 13.03 12.99 %

Õ—μ√“º≈μÕ∫·∑πºŸâ∂◊ÕÀÿâπ 16.59 20.70 18.81 %

Õ—μ√“ à«π· ¥ßª√– ‘∑∏‘¿“æ„π°“√¥”‡π‘πß“π

Õ—μ√“º≈μÕ∫·∑π®“° ‘π∑√—æ¬å 6.18 7.20 6.58 %

Õ—μ√“º≈μÕ∫·∑π®“° ‘π∑√—æ¬å∂“«√ 13.27 14.20 12.28 %

Õ—μ√“À¡ÿπ‡«’¬π¢Õß ‘π∑√—æ¬å 0.56 0.55 0.51 ‡∑à“

Õ—μ√“ à«π«‘‡§√“–Àåπ‚¬∫“¬∑“ß°“√‡ß‘π

Õ—μ√“ à«πÀπ’È ‘πμàÕ à«π¢ÕßºŸâ∂◊ÕÀÿâπ 1.60 1.77 2.00 ‡∑à“

Õ—μ√“ à«π§«“¡ “¡“√∂™”√–¥Õ°‡∫’È¬ 5.45 6.92 2.11 ‡∑à“

Õ—μ√“°“√®à“¬‡ß‘πªíπº≈ 91.94 51.90 83.93 %

75

Financial Ratio Table

Financial Ratio

LIQUIDITY RATIO 2007 2006 2005

Current Ratio 1.30 1.48 1.73 time

Quick Ratio 1.06 1.24 1.42 time

Current Cash Flow Ratio 1.00 1.41 0.24 time

Accounts Receivable Turnover 7.57 7.79 7.37 time

Average Collec tion Period 47.58 46.19 48.87 days

Inventory Turnover Ratio - - - days

Inventory Turn over Period - - - days

Accounts Pay able Turnover 7.51 10.56 16.33 time

Payment Period 47.91 34.08 22.04 days

Cash Cycle -0.33 12.11 26.83 days

PROFITABILITY RATIO

Gross Profit 20.99 20.68 19.82 %

Operating Profit 16.81 17.90 17.00 %

Other Profit 0.23 0.46 0.08 %

Operating Cash Flow Turnover 132.97 158.36 29.40 %

Net profit 11.08 13.03 12.99 %

Return on Equity 16.59 20.70 18.81 %

EFFICIENCY RATIO

Return on Total Asset 6.18 7.20 6.58 %

Return on Fixed Asset 13.27 14.20 12.28 %

Total Asset Turnover 0.56 0.55 0.51 time

FINANCIAL POLICY RATIO

Debt to Equity 1.60 1.77 2.00 time

Interest Coverage 5.45 6.92 2.11 time

Payout Ratio 91.94 51.90 83.93 %

76

„π°“√«‘‡§√“–Àå∞“π–°“√‡ß‘π·≈–º≈°“√¥”‡π‘πß“π¢Õß∫√‘…—∑·≈–∫√‘…—∑¬àÕ¬ „™âß∫°“√‡ß‘π„π°“√«‘‡§√“–Àå‡ª√’¬∫‡∑’¬∫

°—∫ªï 2549 ‚¥¬¡’√“¬≈–‡Õ’¬¥º≈°“√¥”‡π‘πß“π¢Õß∫√‘…—∑·≈–∫√‘…—∑¬àÕ¬ ¥—ßπ’È (√“¬≈–‡Õ’¬¥‡æ‘Ë¡‡μ‘¡„πß∫°“√‡ß‘π·π∫∑â“¬

·≈–·∫∫· ¥ß√“¬°“√¢âÕ¡Ÿ≈ª√–®”ªï 2550 (·∫∫ 56-1))1. º≈°“√¥”‡π‘πß“π

1.1 ¿“æ√«¡¢Õßº≈°“√¥”‡π‘πß“π∑’Ëºà“π¡“

„πªï 2550 ∫√‘…—∑·≈–∫√‘…—∑¬àÕ¬¡’√“¬‰¥â√«¡ 2,813 ≈â“π∫“∑ ≈¥≈ß 12 ≈â“π∫“∑ À√◊Õ√âÕ¬≈– 0.44 ‡¡◊ËÕ‡∑’¬∫

°—∫ªï 2549 ¡’ “‡ÀμÿÀ≈—°®“°Õ—μ√“§à“‰øøÑ“‡√’¬°‡°Á∫®“°°“√‰øøÑ“ΩÉ“¬º≈‘μ·Ààßª√–‡∑»‰∑¬≈¥≈ßμ“¡°“√·¢Áß§à“

¢Õß‡ß‘π∫“∑ ·≈–®“°√“¬‰¥âÕ◊ËπÊ ‰¥â·°à ¥Õ°‡∫’È¬√—∫≈¥≈ß ¡’μâπ∑ÿπ¢“¬·≈–§à“∫√‘À“√√«¡ 2,341 ≈â“π∫“∑ ‡æ‘Ë¡¢÷Èπ

20 ≈â“π∫“∑ §‘¥‡ªìπ√âÕ¬≈– 0.82 ‡ªìπº≈®“°°“√‡æ‘Ë¡¢Õß√“§“°ä“´∏√√¡™“μ‘‡ªìπÀ≈—° ¡’¿“…’‡ß‘π‰¥âπ‘μ‘∫ÿ§§≈

‡æ‘Ë¡¢÷Èπ 24 ≈â“π∫“∑ ‡π◊ËÕß®“° ‘∑∏‘ª√–‚¬™πå∑“ß¥â“π¿“…’ ‚§√ß°“√∑’Ë 1 ‘Èπ ÿ¥≈ß‡¡◊ËÕ«—π∑’Ë 16 ¡’π“§¡ 2550

∑”„Àâ∫√‘…—∑¡’°”‰√ ÿ∑∏‘À≈—ßÀ—°¿“…’‡ß‘π‰¥âπ‘μ‘∫ÿ§§≈μ“¡ß∫°“√‡ß‘π√«¡ √«¡∑—Èß ‘Èπ 311.6 ≈â“π∫“∑ ≈¥≈ß 56.4

≈â“π∫“∑ §‘¥‡ªìπ√âÕ¬≈– 15.33

1.2 º≈°“√¥”‡π‘πß“π∑’Ëºà“π¡“¢Õß·μà≈–º≈‘μ¿—≥±å

ë √“¬‰¥â®“°°“√¢“¬

®“°¿“«–‡ß‘π‡À√’¬≠ À√—∞Õ‡¡√‘°“√ÕàÕπ§à“≈ß ∑”„Àâ‡ß‘π∫“∑·¢Áß§à“¢÷Èπª√–¡“≥ 4 ∫“∑μàÕ 1 ‡À√’¬≠

À√—∞Õ‡¡√‘°“ ‡¡◊ËÕ‡∑’¬∫°—∫ªï 2549 àßº≈„Àâ√“¬‰¥â®“°§à“æ≈—ß‰øøÑ“´÷Ëß®–·ª√μ“¡Õ—μ√“·≈°‡ª≈’Ë¬π °ÿ≈‡ß‘π

À√—∞Õ‡¡√‘°“≈¥≈ß 30 ≈â“π∫“∑ Õ¬à“ß‰√°Áμ“¡√“¬‰¥â®“°§à“æ≈—ßß“π‰øøÑ“ ·≈–§à“‰ÕπÈ”‡æ‘Ë¡¢÷Èπ ∑”„Àâ

∫√‘…—∑¡’√“¬‰¥â®“°°“√¢“¬√«¡ 2,806 ≈â“π∫“∑ ≈¥≈ß‡æ’¬ß 5.8 ≈â“π∫“∑ À√◊Õ√âÕ¬≈– 0.21 ‡¡◊ËÕ‡∑’¬∫°—∫ªï

2549

ë √“¬‰¥âÕ◊Ëπ

„πªï2550 ¡’°“√„™â‡ß‘π„π°“√≈ß∑ÿπ‡æ◊ËÕ¢¬“¬∏ÿ√°‘® ·∑π°“√≈ß∑ÿπ√–¬– —Èπ„πæ—π∏∫—μ√ ∑”„Àâ√“¬‰¥âÕ◊ËπÊ ‰¥â·°à

¥Õ°‡∫’È¬√—∫ ·≈–Õ◊ËπÊ ≈¥≈ß®“°ªï 2549 √«¡ 6.5 ≈â“π∫“∑

ë μâπ∑ÿπ·≈–§à“„™â®à“¬

·¡â«à“√“§“°ä“´®–‡æ‘Ë¡ Ÿß¢÷Èπ ·μà¡’°“√∫√‘À“√μâπ∑ÿπ¢“¬„π à«πÕ◊ËπÊ ‰¥âÕ¬à“ß¡’ª√– ‘∑∏‘¿“æ “¡“√∂≈¥μâπ∑ÿπ

¢“¬‡À≈◊Õ 2,217 ≈â“π∫“∑ ‡ªìπ°“√≈¥≈ß®“°ªï°àÕπ 13 ≈â“π∫“∑ À√◊Õ√âÕ¬≈– 0.60 à«π§à“„™â®à“¬∫√‘À“√

‡μ‘∫‚μ¢÷Èπ‡ªìπ®”π«π‡ß‘π 32 ≈â“π∫“∑§‘¥‡ªìπ√âÕ¬≈– 35 ‚¥¬‡ªìπ à«π¢Õß°“√∫√‘À“√®—¥°“√ß“π«‘®—¬·≈–

æ—≤π“‚§√ß°“√æ≈—ßß“πÀ¡ÿπ‡«’¬π¢Õß∫√‘…—∑¬àÕ¬ 21 ≈â“π∫“∑

„πªï 2550 ∫√‘…—∑¡’¿“√–¿“…’‡ß‘π‰¥âπ‘μ‘∫ÿ§§≈‡ªìπ®”π«π‡ß‘π 24.62 ≈â“π∫“∑ ‡π◊ËÕß®“° ‘∑∏‘¬°‡«âπ∑“ß¿“…’

®“°°“√ àß‡ √‘¡°“√≈ß∑ÿπ¢Õß∫√‘…—∑ ‚§√ß°“√∑’Ë 1 ‰¥â ‘Èπ ÿ¥≈ß‡¡◊ËÕ«—π∑’Ë 16 ¡’π“§¡ 2550

ë °”‰√

∫√‘…—∑¡’°”‰√®“°°“√¥”‡π‘πß“π‡ªìπ®”π«π 471 ≈â“π∫“∑ ≈¥≈ß 32 ≈â“π∫“∑ À√◊Õ§‘¥‡ªìπ√âÕ¬≈– 6.29 ‚¥¬

¡’ “‡ÀμÿÀ≈—°®“°§à“∫√‘À“√®—¥°“√¢Õß∫√‘…—∑¬àÕ¬∑’Ë‡æ‘Ë¡¢÷Èπ ·≈–√“¬‰¥â¥Õ°‡∫’È¬√—∫®“°‡ß‘π≈ß∑ÿπ√–¬– —Èπ„π

æ—π∏∫—μ√≈¥≈ßμ“¡∑’Ë‰¥â°≈à“«¢â“ßμâπ

§”Õ∏‘∫“¬·≈–«‘‡§√“–Àåº≈°“√¥”‡π‘πß“π ·≈–∞“π–°“√‡ß‘π

77

This analysis is based on the consolidated financial statements 2007 in comparing to the 2006 year. Thedetails of the company and its subsidiaryûs financial performance are as described in the audited financialstatement herein and the annual statement (Form 56-1).1. Results of the Operations

1.1 Overview of Operations in the previous yearIn the year 2007, the revenue of the company and its subsidiary totaled Baht 2,813 million, adecrease of Baht 12 million or 0.44% mainly resulted from lessen electricity capacity charges fromEGAT due to the Baht appreciation across the year and the lower interest income from reducedshort term investment. The cost of sales and administrative expenses amounted Baht 2,341 millionwhich is Baht 20 million equal to 0.82% higher than the previous year due to the escalation of thefuel gas price. In addition, the company incurred Baht 24 million for cooperate income tax due tothe expiration on the corporate income tax exemption for the plant phase 1 on March 16, 2007. Thenet profit for the 2007 year was Baht 311.16 million, a decrease of Baht 56.4 million or 15.33% dueto the above reasons.

1.2 Operation result of Product Unitsë Revenues from Sales

In consequence with the US dollars depreciation, the Baht appreciated against the US dollarsacross the year by 4 Baht per US dollars and resulted in the reduction of the EGAT Capacityrevenues by Baht 30 million. However, the total revenue after accumulated with the incrementalrevenues from selling electricity and steam was totaled Baht 2,806 million, which decreasedonly Baht 5.8 million, or 0.21%.

ë Other RevenuesThe lower short term investment resulted in a decrease of interest income Baht 6.5 millionlower from the year 2006.

ë Cost and ExpensesIn spite of the significant increase of the fuel price the other cost of sales were effectivelycontrolled so that the incremental cost became avoidable. The cost amounted Baht 2,217million in the year 2007, a decrease of Baht 13 million or 0.60%. However, the administrationexpenses was up to Baht 32 million, or 35% mainly due to the inclusion of the businessdevelopment expenses of the subsidiary amount of Baht 21 million.

In addition, the company incurred the corporate income tax totaling Baht 24.62 million sincethe BOI tax previlege for the 1st phase project was expired on March 16, 2007.

ë Gross ProfitIn 2007, total earning from operation was Baht 471 million, a decrease of Baht 32 million, or6.29% due to the above mentioned factors.

Operational and Financial Analysis

78

2. ∞“π–°“√‡ß‘πë ‘π∑√—æ¬å : ≥ «—π∑’Ë 31 ∏—π«“§¡ 2550 ∫√‘…—∑¡’ ‘π∑√—æ¬å√«¡®”π«π 4,919 ≈â“π∫“∑ ≈¥≈ß®”π«π 244 ≈â“π∫“∑

À√◊Õ√âÕ¬≈– 0.05 ‡ªìπ°“√≈¥≈ßμ“¡§à“‡ ◊ËÕ¡√“§“Õ“§“√·≈–Õÿª°√≥å 168 ≈â“π∫“∑ ·≈–°“√≈¥‡ß‘π≈ß∑ÿπ™—Ë«§√“«

„πæ—π∏∫—μ√ ‡æ◊ËÕ°“√™”√–§◊π‡ß‘π°Ÿâ

ë Àπ’È ‘π : ∫√‘…—∑Àπ’È ‘π√«¡ 3,028 ≈â“π∫“∑ ≈¥≈ß 269 ≈â“π∫“∑ §‘¥‡ªìπ√âÕ¬≈– 0.08 ®“°°“√™”√–§◊π‡ß‘π°Ÿâ

√–¬–¬“« ÿ∑∏‘®“° à«π∑’Ë∂÷ß°”Àπ¥™”√–¿“¬„πÀπ÷Ëßªï≈¥≈ß·≈–®à“¬§◊π‡ß‘πª√–°—πº≈ß“π∑’Ë∂÷ß°”Àπ¥

ë à«π¢ÕßºŸâ∂◊ÕÀÿâπ : ¡’ à«π¢ÕßºŸâ∂◊ÕÀÿâπ√«¡ 1,891 ≈â“π∫“∑ ‡æ‘Ë¡¢÷Èπ 25 ≈â“π∫“∑ À√◊Õ√âÕ¬≈– 0.01 ®“°°”‰√

– ¡∑’Ë‡æ‘Ë¡¢÷Èπ

3. ¿“æ§≈àÕßë °√–· ‡ß‘π ¥ : ¡’°√–· ‡ß‘π ¥®“°°‘®°√√¡¥”‡π‘πß“π√«¡ 627 ≈â“π∫“∑ ≈¥≈ß 170 ≈â“π∫“∑À√◊Õ√âÕ¬≈– 21.32

‡π◊ËÕß®“°‡®â“Àπ’È°“√§â“√«¡≈¥≈ß 192 ≈â“π∫“∑ àßº≈„Àâ‡ß‘π ¥·≈–√“¬°“√‡∑’¬∫‡∑à“‡ß‘π ¥∑—Èßªï≈¥≈ß 285

≈â“π∫“∑ ≈¥≈ß 26 ≈â“π∫“∑À√◊Õ√âÕ¬≈– 8.38 ‡¡◊ËÕ‡ª√’¬∫‡∑’¬∫°—∫ªï 2549

ë Õ—μ√“ à«π ¿“æ§≈àÕß : ¡’ ‘π∑√—æ¬åÀ¡ÿπ‡«’¬π√«¡ 804 ≈â“π∫“∑ ≈¥≈ß 142 ≈â“π∫“∑À√◊Õ√âÕ¬≈– 0.15 “‡Àμÿ

À≈—°®“°°“√≈¥°“√≈ß∑ÿπ™—Ë«§√“«„πæ—π∏∫—μ√ Àπ’È ‘πÀ¡ÿπ‡«’¬π¡’®”π«π√«¡ 620 ≈â“π∫“∑ ≈¥≈ß 20 ≈â“π∫“∑

À√◊Õ√âÕ¬≈– 0.03 ®“°°“√™”√–§◊π‡ß‘πª√–°—πº≈ß“π°“√°àÕ √â“ß °“√‡ª≈’Ë¬π·ª≈ß ‘π∑√—æ¬åÀ¡ÿπ‡«’¬π·≈–Àπ’È

‘πÀ¡ÿπ‡«’¬π àßº≈„ÀâÕ—μ√“ à«π ¿“æ§≈àÕß≈¥≈ß®“° 1.48 ‡∑à“„πªï 2549 ‡À≈◊Õ 1.30 „πªï 2550

4. ª√– ‘∑∏‘¿“æ„π°“√¥”‡π‘πß“π∫√‘…—∑¡’Õ—μ√“º≈μÕ∫·∑π®“° ‘π∑√—æ¬å 6.18% ‡∑’¬∫°—∫ 7.20% ¢Õßªï 2549 Õ—μ√“º≈μÕ∫·∑π®“° ‘π∑√—æ¬å∂“«√

13.27% ‡∑’¬∫°—∫ 14.20% ¢Õßªï 2549 ‡ªìπ°“√‡ª≈’Ë¬π·ª≈ßμ“¡°”‰√ ÿ∑∏‘∑’Ë≈¥≈ß ·≈–Õ—μ√“À¡ÿπ¢Õß ‘π∑√—æ¬å 0.56

‡∑à“ ‡ª≈’Ë¬π·ª≈ß‡≈Á°πâÕ¬ μ“¡ —¥ à«π√“¬‰¥â ®“°Õ—μ√“ 0.55 ¢Õßªï 2549

79

2. Financial Statusë Assets : On 31 December 2007, the total assets of the company amounted to Baht 4,919 million,

a decrease of Baht 244 million or 0.05% resulted from the plant depreciated value amount of Baht168 million and the reduction of the short term investment.

ë Liabilities : The total liabilities amounted to Baht 3,028 million Baht, a decrease of Baht 269 millionwhich is 0.08% lower than 2007 figures resulted from the repayment of the long term loan.

ë Shareholdersû Equity : Shareholdersû equity totaled Baht1,891 million, a rise of Baht 25 million or0.01% from the previous year. The rise resulted from an increase in retained earnings.

3. Liquidityë Cash Flow : The Company had net cash from operating activities of Baht 627 million, which was

Baht 170 million or 21.32% lower than the previous year due to the reduction of trade accountpayable amount of Baht 192 million. The cash at the end of 2007 year was reduced to Baht 285million, decreasing by Baht 26 million or 8.38% from the previous year.

ë Liquidity Ratio : In 2007, the current assets amounted Baht 804 million Baht, which was Baht 142million, or 0.15% lower than the previous year mainly caused by the reduction in the short terminvestment. However, the current liability was Baht 620 million which was Baht 20 million or 0.03%lower than the previous year due to the remittance of construction retention. The changes in thecurrent asset and current liability resulted in the decrease of current ratio from 1.48 in the year 2006to 1.30 in 2007.

4. EffectivenessDue to the reduction in the net profit the return on total assets reduced from 7.20% of 2006 to 6.18%,and the return on fixed assets was 13.27% slightly lower than 14.20% of the previous. The total assetsturnover was 0.56 times against 0.55 times of the previous year.

80

§≥–°√√¡°“√∫√‘…—∑ À‚§‡®π (™≈∫ÿ√’) ®”°—¥ (¡À“™π) ‡ªìπºŸâ√—∫º‘¥™Õ∫ß∫°“√‡ß‘π¢Õß∫√‘…—∑ ·≈–∫√‘…—∑¬àÕ¬ ∑’Ëπ”¡“

®—¥∑”ß∫°“√‡ß‘π√«¡ ·≈–√«¡∂÷ß¢âÕ¡Ÿ≈ “√ π‡∑»∑“ß°“√‡ß‘π∑’Ëª√“°Ø„π√“¬ß“πª√–®”ªï ´÷Ëß‰¥â®—¥∑”¢÷Èπμ“¡À≈—°°“√∫—≠™’

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μ≈“¥À≈—°∑√—æ¬å ‚¥¬‰¥â¡’°“√‡ªî¥‡º¬¢âÕ¡Ÿ≈Õ¬à“ß‡æ’¬ßæÕ·≈–∂Ÿ°μâÕß§√∫∂â«π„π “√– ”§—≠∑ÿ°ª√–°“√

πÕ°®“°π’È §≥–°√√¡°“√∫√‘…—∑¬—ß‰¥â®—¥„Àâ¡’√–∫∫∫√‘À“√§«“¡‡ ’Ë¬ß ·≈–√–∫∫§«∫§ÿ¡¿“¬„π∑’Ë‡À¡“– ¡·≈–¡’ª√– ‘∑∏‘º≈

‡æ◊ËÕªÑÕß°—π‰¡à„Àâ‡°‘¥§«“¡‡ ’Ë¬ß®“°°“√¥”‡π‘πß“πÀ√◊Õ°“√¥”‡π‘π°“√∑’Ëº‘¥ª°μ‘Õ¬à“ß¡’ “√– ”§—≠ ¡’°“√√–∫∫ªÑÕß°—π·≈–

¥Ÿ·≈√—°…“∑√—æ¬å ‘π∑’Ë¥’ ·≈–√“¬°“√∑’Ë‡°’Ë¬«‚¬ß°—π´÷ËßÕ“®∑”„Àâ‡°‘¥§«“¡¢—¥·¬âß∑“ßº≈ª√–‚¬™πå‡ªìπ√“¬°“√®√‘ß∑“ß°“√§â“

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§≥–°√√¡°“√μ√«® Õ∫‡ªìπºŸâ¥Ÿ·≈‡°’Ë¬«°—∫§ÿ≥¿“æ¢Õßß∫°“√‡ß‘π ·≈–√“¬°“√§«∫§ÿ¡¿“¬„π ¥—ß§«“¡‡ÀÁπ¢Õß§≥–°√√¡°“√

μ√«® Õ∫ ÷́Ëß· ¥ß‰«â„π√“¬ß“π¢Õß§≥–°√√¡°“√μ√«® Õ∫ª√–®”ªï·≈â«

¥—ßπ—Èπ §≥–°√√¡°“√∫√‘…—∑ ®÷ß¡’§«“¡‡ÀÁπ«à“ √–∫∫°“√§«∫§ÿ¡¿“¬„π¢Õß∫√‘…—∑ ‚¥¬√«¡Õ¬Ÿà„π√–¥—∫∑’Ëπà“æÕ„®

·≈– “¡“√∂ √â“ß§«“¡‡™◊ËÕ¡—ËπÕ¬à“ß¡’‡Àμÿº≈μàÕ§«“¡‡™◊ËÕ∂◊Õ‰¥â¢Õßß∫°“√‡ß‘π¢Õß∫√‘…—∑ ≥ «—π∑’Ë 31 ∏—π«“§¡ 2550 ´÷Ëß

ºŸâμ√«® Õ∫∫—≠™’¢Õß∫√‘…—∑ ‰¥âμ√«® Õ∫μ“¡¡“μ√∞“π°“√ Õ∫∫—≠™’∑’Ë√—∫√Õß∑—Ë«‰ª ·≈–· ¥ß§«“¡‡ÀÁπ«à“ß∫°“√‡ß‘π¢Õß

∫√‘…—∑· ¥ß∞“π–°“√‡ß‘π·≈–º≈°“√¥”‡π‘πß“π·≈–°√–· ‡ß‘π ¥‚¥¬∂Ÿ°μâÕßμ“¡∑’Ë§«√„π “√– ”§—≠ μ“¡À≈—°°“√∫—≠™’

∑’Ë√—∫√Õß∑—Ë«‰ª

æ≈‡√◊Õ‡Õ°

Õπÿ™‘μ ‡¿°–π—π∑πå π“¬«‘‚√®πå ∏’√«—≤πå«“∑’

ª√–∏“π°√√¡°“√ °√√¡°“√ºŸâ®—¥°“√

√“¬ß“π§«“¡√—∫º‘¥™Õ∫¢Õß§≥–°√√¡°“√μàÕ√“¬ß“π∑“ß°“√‡ß‘π

81

The Board of Directors takes responsibility for the financial statements of the company andits subsidiary being consolidated, including other financial information shown on this annual report.The financial statements shall duly represent its financial status, performance, results, and cash flow position,in an adequate and reliable manner, in compliance with general accepted accounting principles under theAccounting Ace B.E. 2543 (2000) and requirements of the Securities and Exchange Commission, includingtransparently disclosure of sufficient information in the notes section of the financial statements.

The Board of Directors also has a risk management policy and efficiently implements its internal controlsystem in order to protect against fraud and irregularity transaction. The companyûs assets are properlysafeguarded and any related transactions, which might be the conflict of interests, are recorded accuratelyand be a normal and reasonable business practice price as well as being the most beneficial to the company.

The Board of Directors recognizes the importance of the company financial statements and internalcontrol system. For this respect, the Board of Directors has appointed an Audit Committee to oversee thequality of the financial statements and the company internal control system, including the risk management.These comments have already been shown in the Report of the Audit Committee in this annual report.

The financial statements of the company and its subsidiary being consolidated have been verified byErnst & Young Office Limited, in which the Board of Directors has supported all appropriated information anddocuments with the chosen accounting policy to the auditor. The auditor has reported their examination asshown on the report of the independent auditor in this annual report.

The Board of Directors agrees that the companyûs internal control system is deemed adequate andappropriate and brings confidence in the reliability of the financial statements of the company and itssubsidiary being consolidated for the period ending December 31, 2007 which the auditor has verified andgiven the opinion that the consolidated and the companyûs financial statements present fairly in all materialrespects in accordance with generally accepted accounting principles.

Admiral

(Anuchit Bekanan) (Mr. Viroj Theeravatvatee)

Chairman Managing Director

Report on the Board of DirectorsûResponsibility on Financial Statements

82

√“¬ß“πºŸâμ√«® Õ∫∫—≠™’√—∫Õπÿ≠“μ

√“¬ß“π¢ÕßºŸâ Õ∫∫—≠™’√—∫Õπÿ≠“μ‡ πÕμàÕºŸâ∂◊ÕÀÿâπ¢Õß∫√‘…—∑ À‚§‡®π (™≈∫ÿ√’) ®”°—¥ (¡À“™π)

¢â“æ‡®â“‰¥âμ√«® Õ∫ß∫¥ÿ≈√«¡ ≥ «—π∑’Ë 31 ∏—π«“§¡ 2550 ·≈– 2549 ß∫°”‰√¢“¥∑ÿπ√«¡ ß∫· ¥ß°“√‡ª≈’Ë¬π·ª≈ß

à«π¢ÕßºŸâ∂◊ÕÀÿâπ√«¡·≈–ß∫°√–· ‡ß‘π ¥√«¡ ”À√—∫ªï ‘Èπ ÿ¥«—π‡¥’¬«°—π¢Õß·μà≈–ªï¢Õß∫√‘…—∑ À‚§‡®π (™≈∫ÿ√’)

®”°—¥ (¡À“™π) ·≈–∫√‘…—∑¬àÕ¬ ·≈–‰¥âμ√«® Õ∫ß∫°“√‡ß‘π‡©æ“–°‘®°“√¢Õß∫√‘…—∑ À‚§‡®π (™≈∫ÿ√’) ®”°—¥ (¡À“™π)

¥â«¬‡™àπ°—π ´÷ËßºŸâ∫√‘À“√¢Õß°‘®°“√‡ªìπºŸâ√—∫º‘¥™Õ∫μàÕ§«“¡∂Ÿ°μâÕß·≈–§√∫∂â«π¢Õß¢âÕ¡Ÿ≈„πß∫°“√‡ß‘π‡À≈à“π’È à«π¢â“æ‡®â“

‡ªìπºŸâ√—∫º‘¥™Õ∫„π°“√· ¥ß§«“¡‡ÀÁπμàÕß∫°“√‡ß‘π¥—ß°≈à“«®“°º≈°“√μ√«® Õ∫¢Õß¢â“æ‡®â“

¢â“æ‡®â“‰¥âªØ‘∫—μ‘ß“πμ√«® Õ∫μ“¡¡“μ√∞“π°“√ Õ∫∫—≠™’∑’Ë√—∫√Õß∑—Ë«‰ª´÷Ëß°”Àπ¥„Àâ¢â“æ‡®â“μâÕß«“ß·ºπ·≈–

ªØ‘∫—μ‘ß“π‡æ◊ËÕ„Àâ ‰¥â§«“¡‡™◊ËÕ¡—ËπÕ¬à“ß¡’‡Àμÿº≈«à“ß∫°“√‡ß‘π· ¥ß¢âÕ¡Ÿ≈∑’Ë¢—¥μàÕ¢âÕ‡∑Á®®√‘ßÕ—π‡ªìπ “√– ”§—≠À√◊Õ‰¡à

°“√μ√«® Õ∫√«¡∂÷ß°“√„™â«‘∏’°“√∑¥ Õ∫À≈—°∞“πª√–°Õ∫√“¬°“√∑—Èß∑’Ë‡ªìπ®”π«π‡ß‘π·≈–°“√‡ªî¥‡º¬¢âÕ¡Ÿ≈„πß∫°“√‡ß‘π

°“√ª√–‡¡‘π§«“¡‡À¡“– ¡¢ÕßÀ≈—°°“√∫—≠™’∑’Ë°‘®°“√„™â·≈–ª√–¡“≥°“√‡°’Ë¬«°—∫√“¬°“√∑“ß°“√‡ß‘π∑’Ë‡ªìπ “√– ”§—≠

´÷ËßºŸâ∫√‘À“√‡ªìπºŸâ®—¥∑”¢÷Èπ μ≈Õ¥®π°“√ª√–‡¡‘π∂÷ß§«“¡‡À¡“– ¡¢Õß°“√· ¥ß√“¬°“√∑’Ëπ”‡ πÕ„πß∫°“√‡ß‘π‚¥¬√«¡ ¢â“æ‡®â“

‡™◊ËÕ«à“°“√μ√«® Õ∫¥—ß°≈à“«„Àâ¢âÕ √ÿª∑’Ë‡ªìπ‡°≥±åÕ¬à“ß‡À¡“– ¡„π°“√· ¥ß§«“¡‡ÀÁπ¢Õß¢â“æ‡®â“

¢â“æ‡®â“‡ÀÁπ«à“ ß∫°“√‡ß‘π¢â“ßμâππ’È· ¥ß∞“π–°“√‡ß‘π ≥ «—π∑’Ë 31 ∏—π«“§¡ 2550 ·≈– 2549 º≈°“√¥”‡π‘πß“π

·≈–°√–· ‡ß‘π ¥ ”À√—∫ªï ‘Èπ ÿ¥«—π‡¥’¬«°—π¢Õß·μà≈–ªï¢Õß∫√‘…—∑ À‚§‡®π (™≈∫ÿ√’) ®”°—¥ (¡À“™π) ·≈–∫√‘…—∑¬àÕ¬ ·≈–

‡©æ“–¢Õß∫√‘…—∑ À‚§‡®π (™≈∫ÿ√’) ®”°—¥ (¡À“™π) ‚¥¬∂Ÿ°μâÕßμ“¡∑’Ë§«√„π “√– ”§—≠μ“¡À≈—°°“√∫—≠™’∑’Ë√—∫√Õß∑—Ë«‰ª

∑‘æ«—≈¬å π“π“πÿ«—≤πå

ºŸâ Õ∫∫—≠™’√—∫Õπÿ≠“μ ‡≈¢∑–‡∫’¬π 3459

∫√‘…—∑ ”π—°ß“π ‡Õ‘π å∑ ·Õπ¥å ¬—ß ®”°—¥

°√ÿß‡∑æœ: 19 °ÿ¡¿“æ—π∏å 2551

83

Report of Independent Auditor

Report of Independent AuditorTo the Shareholders of Sahacogen (Chonburi) Public Company Limited

I have audited the accompanying consolidated balance sheets of Sahacogen (Chonburi) Public

Company Limited and its subsidiary as at 31 December 2007 and 2006, the related consolidated

statements of income, changes in shareholdersû equity and cash flows for the years then ended, and the

separate financial statements of Sahacogen (Chonburi) Public Company Limited for the same periods. These

financial statements are the responsibility of the Companyûs management as to their correctness and the

completeness of the presentation. My responsibility is to express an opinion on these financial statements

based on my audits.

I conducted my audits in accordance with generally accepted auditing standards. Those standards

require that I plan and perform the audit to obtain reasonable assurance about whether the financial

statements are free of material misstatement. An audit includes examining, on a test basis, evidence

supporting the amounts and disclosures in the financial statements. An audit also includes assessing the

accounting principles used and significant estimates made by management, as well as evaluating the overall

financial statement presentation. I believe that my audits provide a reasonable basis for my opinion.

In my opinion, the financial statements referred to above present fairly, in all material respects, the

financial position of Sahacogen (Chonburi) Public Company Limited and its subsidiary and of Sahacogen

(Chonburi) Public Company Limited as at 31 December 2007 and 2006, the results of their operations, and

cash flows for the years then ended, in accordance with generally accepted accounting principles.

Thipawan Nananuwat

Certified Public Accountant (Thailand) No. 3459

Ernst & Young Office Limited

Bangkok: 19 February 2008

84

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

ß∫¥ÿ≈

∫√‘…—∑ À‚§‡®π (™≈∫ÿ√’) ®”°—¥ (¡À“™π) ·≈–∫√‘…—∑¬àÕ¬

≥ «—π∑’Ë 31 ∏—π«“§¡ 2550 ·≈– 2549

(Àπà«¬: ∫“∑)ß∫°“√‡ß‘π√«¡ ß∫°“√‡ß‘π‡©æ“–°‘®°“√

À¡“¬‡Àμÿ 2550 2549 2550 2549

‘π∑√—æ¬å

‘π∑√—æ¬åÀ¡ÿπ‡«’¬π

‡ß‘π ¥·≈–√“¬°“√‡∑’¬∫‡∑à“‡ß‘π ¥ 284,670,542 310,703,719 239,402,960 177,079,710

‡ß‘π≈ß∑ÿπ™—Ë«§√“« - À≈—°∑√—æ¬å‡æ◊ËÕ§â“ 563,585 112,152,594 563,585 112,152,594

≈Ÿ°Àπ’È°“√§â“ 5 278,229,451 276,809,760 278,229,451 276,809,760

≈Ÿ°Àπ’È°“√§â“ - ∫√‘…—∑∑’Ë‡°’Ë¬«¢âÕß°—π 5,6 96,059,933 90,760,671 96,059,933 90,760,671

≈Ÿ°Àπ’ÈÕ◊Ëπ - ∫√‘…—∑¬àÕ¬ 6 - - - 8,100,343

Õ–‰À≈à·≈–«— ¥ÿ§ß‡À≈◊Õ 131,716,248 125,699,302 129,953,504 124,597,932

‘π∑√—æ¬åÀ¡ÿπ‡«’¬πÕ◊Ëπ

§à“„™â®à“¬≈à«ßÀπâ“ 6,163,718 19,153,367 6,163,718 18,212,321

¿“…’¡Ÿ≈§à“‡æ‘Ë¡√Õ√—∫§◊π 138,567 8,572,891 - -

√“¬‰¥â§â“ß√—∫ 6,000,000 2,204,366 6,000,000 2,204,366

Õ◊ËπÊ 326,667 103,820 225,198 29,422

√«¡ ‘π∑√—æ¬åÀ¡ÿπ‡«’¬πÕ◊Ëπ 12,628,952 30,034,444 12,388,916 20,446,109

√«¡ ‘π∑√—æ¬åÀ¡ÿπ‡«’¬π 803,868,711 946,160,490 756,598,349 809,947,119

‘π∑√—æ¬å‰¡àÀ¡ÿπ‡«’¬π

‡ß‘π≈ß∑ÿπ„π∫√‘…—∑¬àÕ¬ - - 249,999,930 249,999,930

∑’Ë¥‘π Õ“§“√·≈–Õÿª°√≥å - ÿ∑∏‘ 7 4,089,580,520 4,215,497,882 3,922,354,514 4,090,649,266

μâπ∑ÿπ°“√ª≈Ÿ°æ◊™æ≈—ßß“π 8 23,639,068 - - -

‘π∑√—æ¬å‰¡àÀ¡ÿπ‡«’¬πÕ◊Ëπ 1,904,573 885,165 1,904,573 885,165

√«¡ ‘π∑√—æ¬å‰¡àÀ¡ÿπ‡«’¬π 4,115,124,161 4,216,383,047 4,174,259,017 4,341,534,361

√«¡ ‘π∑√—æ¬å 4,918,992,872 5,162,543,537 4,930,857,366 5,151,481,480

85

SAHACOGEN (CHONBURI) PUBLIC COMPANY LIMITED AND ITS SUBSIDIARY

AS AT 31 DECEMBER 2007 AND 2006

(Unit: Baht)Consolidated Separate

financial statements financial statements

Note 2007 2006 2007 2006

ASSETS

CURRENT ASSETS

Cash and cash equivalents 284,670,542 310,703,719 239,402,960 177,079,710

Current investments - securities 563,585 112,152,594 563,585 112,152,594

held for trading

Trade accounts receivable 5 278,229,451 276,809,760 278,229,451 276,809,760

Trade accounts receivable - 5,6 96,059,933 90,760,671 96,059,933 90,760,671

related company

Other receivable - subsidiary 6 - - - 8,100,343

Spare parts and supplies 131,716,248 125,699,302 129,953,504 124,597,932

Other current assets

Prepaid expenses 6,163,718 19,153,367 6,163,718 18,212,321

Value added tax refundable 138,567 8,572,891 - -

Accrued income 6,000,000 2,204,366 6,000,000 2,204,366

Others 326,667 103,820 225,198 29,422

Total other current assets 12,628,952 30,034,444 12,388,916 20,446,109

TOTAL CURRENT ASSETS 803,868,711 946,160,490 756,598,349 809,947,119

NON-CURRENT ASSETS

Investment in subsidiary - - 249,999,930 249,999,930

Property, plant and equipment - net 7 4,089,580,520 4,215,497,882 3,922,354,514 4,090,649,266

Project cost of energy plant farming 8 23,639,068 - - -

Other non-current assets 1,904,573 885,165 1,904,573 885,165

TOTAL NON-CURRENT ASSETS 4,115,124,161 4,216,383,047 4,174,259,017 4,341,534,361

TOTAL ASSETS 4,918,992,872 5,162,543,537 4,930,857,366 5,151,481,480

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

Balance Sheets

86

ß∫¥ÿ≈ (μàÕ)


∫√‘…—∑ À‚§‡®π (™≈∫ÿ√’) ®”°—¥ (¡À“™π) ·≈–∫√‘…—∑¬àÕ¬

≥ «—π∑’Ë 31 ∏—π«“§¡ 2550 ·≈– 2549

(Àπà«¬: ∫“∑)ß∫°“√‡ß‘π√«¡ ß∫°“√‡ß‘π‡©æ“–°‘®°“√

À¡“¬‡Àμÿ 2550 2549 2550 2549

Àπ’È ‘π·≈– à«π¢ÕßºŸâ∂◊ÕÀÿâπ

Àπ’È ‘πÀ¡ÿπ‡«’¬π

‡®â“Àπ’È°“√§â“ 299,848,280 290,328,834 299,848,280 290,257,883

‡®â“Àπ’È∫√‘…—∑∑’Ë‡°’Ë¬«¢âÕß°—π 6 34,099,763 52,933,099 30,626,682 51,494,570

‡®â“Àπ’Èß“π°àÕ √â“ß·≈–‡ß‘πª√–°—πº≈ß“π 1,542,730 37,454,022 - 27,416,764

à«π¢Õß‡ß‘π°Ÿâ¬◊¡√–¬–¬“« 9 249,000,000 227,700,000 249,000,000 227,700,000

∑’Ë∂÷ß°”Àπ¥™”√–¿“¬„πÀπ÷Ëßªï

¿“…’‡ß‘π‰¥âπ‘μ‘∫ÿ§§≈§â“ß®à“¬ 8,366,195 626,743 8,366,195 626,743

Àπ’È ‘πÀ¡ÿπ‡«’¬πÕ◊Ëπ

§à“„™â®à“¬§â“ß®à“¬ 8,851,498 12,617,291 7,011,128 12,164,876

¿“…’¡Ÿ≈§à“‡æ‘Ë¡√Õπ” àß 14,775,430 16,485,201 14,775,430 16,485,201

Õ◊ËπÊ 3,333,236 1,324,482 3,173,445 1,185,662

√«¡Àπ’È ‘πÀ¡ÿπ‡«’¬πÕ◊Ëπ 26,960,164 30,426,974 24,960,003 29,835,739

√«¡Àπ’È ‘πÀ¡ÿπ‡«’¬π 619,817,132 639,469,672 612,801,160 627,331,699

Àπ’È ‘π‰¡àÀ¡ÿπ‡«’¬π

‡ß‘π°Ÿâ¬◊¡√–¬–¬“« - ÿ∑∏‘®“° à«π 9 2,408,100,000 2,657,100,000 2,408,100,000 2,657,100,000

∑’Ë∂÷ß°”Àπ¥™”√–¿“¬„πÀπ÷Ëßªï

√«¡Àπ’È ‘π‰¡àÀ¡ÿπ‡«’¬π 2,408,100,000 2,657,100,000 2,408,100,000 2,657,100,000

√«¡Àπ’È ‘π 3,027,917,132 3,296,569,672 3,020,901,160 3,284,431,699

à«π¢ÕßºŸâ∂◊ÕÀÿâπ

∑ÿπ‡√◊ÕπÀÿâπ

∑ÿπ®¥∑–‡∫’¬π ÕÕ°®”Àπà“¬

·≈–™”√–‡μÁ¡¡Ÿ≈§à“·≈â«

Àÿâπ “¡—≠ 955,000,000 Àÿâπ

¡Ÿ≈§à“Àÿâπ≈– 1 ∫“∑ 955,000,000 955,000,000 955,000,000 955,000,000

à«π‡°‘π¡Ÿ≈§à“Àÿâπ 285,447,000 285,447,000 285,447,000 285,447,000

°”‰√ – ¡

®—¥ √√·≈â« - ”√Õßμ“¡°ÆÀ¡“¬ 10 95,500,000 95,500,000 95,500,000 95,500,000

¬—ß‰¡à‰¥â®—¥ √√ 555,128,740 530,026,865 574,009,206 531,102,781

√«¡ à«π¢ÕßºŸâ∂◊ÕÀÿâπ 1,891,075,740 1,865,973,865 1,909,956,206 1,867,049,781

√«¡Àπ’È ‘π·≈– à«π¢ÕßºŸâ∂◊ÕÀÿâπ 4,918,992,872 5,162,543,537 4,930,857,366 5,151,481,480

0 0 0 0

87


AS AT 31 DECEMBER 2007 AND 2006



Note 2007 2006 2007 2006

LIABILITIES AND

SHAREHOLDERSû EQUITY

CURRENT LIABILITIES

Trade accounts payable 299,848,280 290,328,834 299,848,280 290,257,883

Amount due to related companies 6 34,099,763 52,933,099 30,626,682 51,494,570

Construction and retention payables 1,542,730 37,454,022 - 27,416,764

Current portion of long-term loans 9 249,000,000 227,700,000 249,000,000 227,700,000

Corporate income tax payable 8,366,195 626,743 8,366,195 626,743

Other current liabilities

Accrued expenses 8,851,498 12,617,291 7,011,128 12,164,876

Value added tax payable 14,775,430 16,485,201 14,775,430 16,485,201

Others 3,333,236 1,324,482 3,173,445 1,185,662

Total other current liabilities 26,960,164 30,426,974 24,960,003 29,835,739

TOTAL CURRENT LIABILITIES 619,817,132 639,469,672 612,801,160 627,331,699

NON-CURRENT LIABILITIES

Long-term loans-net of 9 2,408,100,000 2,657,100,000 2,408,100,000 2,657,100,000

current portion

TOTAL NON-CURRENT LIABILITIES 2,408,100,000 2,657,100,000 2,408,100,000 2,657,100,000

TOTAL LIABILITIES 3,027,917,132 3,296,569,672 3,020,901,160 3,284,431,699


Share capital

Registered, issued and fully paid

955,000,000 ordinary shares of

Baht 1 each 955,000,000 955,000,000 955,000,000 955,000,000

Share premium 285,447,000 285,447,000 285,447,000 285,447,000

Retained earnings

Appropriated - statutory reserve 10 95,500,000 95,500,000 95,500,000 95,500,000

Unappropriated 555,128,740 530,026,865 574,009,206 531,102,781

TOTAL SHAREHOLDERSû EQUITY 1,891,075,740 1,865,973,865 1,909,956,206 1,867,049,781

TOTAL LIABILITIES AND 4,918,992,872 5,162,543,537 4,930,857,366 5,151,481,480


0 0 0 0

Balance Sheets (Continued)


88

∫√‘…—∑ À‚§‡®π (™≈∫ÿ√’) ®”°—¥ (¡À“™π) ·≈–∫√‘…—∑¬àÕ¬

”À√—∫ªï ‘Èπ ÿ¥«—π∑’Ë 31 ∏—π«“§¡ 2550 ·≈– 2549

(Àπà«¬: ∫“∑)ß∫°“√‡ß‘π√«¡ ß∫°“√‡ß‘π‡©æ“–°‘®°“√

À¡“¬‡Àμÿ 2550 2549 2550 2549

√“¬‰¥â

√“¬‰¥â®“°°“√¢“¬ 2,806,237,907 2,812,044,414 2,806,237,907 2,812,044,414

√“¬‰¥âÕ◊Ëπ

¥Õ°‡∫’È¬√—∫ 2,042,121 10,203,000 1,735,874 10,178,525

°”‰√®“°Õ—μ√“·≈°‡ª≈’Ë¬π 1,895,742 2,735,201 1,895,742 2,735,201

Õ◊ËπÊ 2,562,694 154,579 115,630 154,579

√«¡√“¬‰¥â 2,812,738,464 2,825,137,194 2,809,985,153 2,825,112,719

§à“„™â®à“¬

μâπ∑ÿπ¢“¬ 2,217,105,459 2,230,414,823 2,217,105,459 2,230,414,823

§à“„™â®à“¬„π°“√¢“¬·≈–°“√∫√‘À“√ 123,916,680 91,326,829 102,967,929 90,226,438

√«¡§à“„™â®à“¬ 2,341,022,139 2,321,741,652 2,320,073,388 2,320,641,261

°”‰√°àÕπ¥Õ°‡∫’È¬®à“¬·≈–

¿“…’‡ß‘π‰¥âπ‘μ‘∫ÿ§§≈ 471,716,325 503,395,542 489,911,765 504,471,458

¥Õ°‡∫’È¬®à“¬ (135,497,989) (134,722,003) (135,888,879) (134,722,003)

¿“…’‡ß‘π‰¥âπ‘μ‘∫ÿ§§≈ 12 (24,616,461) (654,661) (24,616,461) (654,661)

°”‰√ ÿ∑∏‘ ”À√—∫ªï 311,601,875 368,018,878 329,406,425 369,094,794

°”‰√μàÕÀÿâπ¢—Èπæ◊Èπ∞“π

°”‰√ ÿ∑∏‘ 14 0.33 0.39 0.35 0.39

ß∫°”‰√¢“¥∑ÿπ


89

Income Statements



FOR THE YEARS ENDED 31 DECEMBER 2007 AND 2006



Note 2007 2006 2007 2006

REVENUES

Sales 2,806,237,907 2,812,044,414 2,806,237,907 2,812,044,414

Other income

Interest income 2,042,121 10,203,000 1,735,874 10,178,525

Gains on exchange 1,895,742 2,735,201 1,895,742 2,735,201

Others 2,562,694 154,579 115,630 154,579

TOTAL REVENUES 2,812,738,464 2,825,137,194 2,809,985,153 2,825,112,719

EXPENSES

Cost of sales 2,217,105,459 2,230,414,823 2,217,105,459 2,230,414,823

Selling and administrative expenses 123,916,680 91,326,829 102,967,929 90,226,438

TOTAL EXPENSES 2,341,022,139 2,321,741,652 2,320,073,388 2,320,641,261

INCOME BEFORE INTEREST

EXPENSES AND CORPORATE

INCOME TAX 471,716,325 503,395,542 489,911,765 504,471,458

INTEREST EXPENSES (135,497,989) (134,722,003) (135,888,879) (134,722,003)

CORPORATE INCOME TAX 12 (24,616,461) (654,661) (24,616,461) (654,661)

NET INCOME FOR THE YEAR 311,601,875 368,018,878 329,406,425 369,094,794

BASIC EARNINGS PER SHARE

Net income 14 0.33 0.39 0.35 0.39

90

ß∫°√–· ‡ß‘π ¥


∫√‘…—∑ À‚§‡®π (™≈∫ÿ√’) ®”°—¥ (¡À“™π) ·≈–∫√‘…—∑¬àÕ¬

”À√—∫ªï ‘Èπ ÿ¥«—π∑’Ë 31 ∏—π«“§¡ 2550 ·≈– 2549

(Àπà«¬: ∫“∑)ß∫°“√‡ß‘π√«¡ ß∫°“√‡ß‘π‡©æ“–°‘®°“√

2550 2549 2550 2549

°√–· ‡ß‘π ¥®“° („™â ‰ª„π) °‘®°√√¡¥”‡π‘πß“π

°”‰√ ÿ∑∏‘ ”À√—∫ªï 311,601,875 368,018,878 329,406,425 369,094,794

ª√—∫°√–∑∫°”‰√ ÿ∑∏‘‡ªìπ‡ß‘π ¥√—∫ (®à“¬)

®“°°‘®°√√¡¥”‡π‘πß“π

°”‰√®“°°“√®”Àπà“¬Õÿª°√≥å (1,223) (9,456) (1,223) (9,456)

§à“‡ ◊ËÕ¡√“§“ 241,371,249 230,873,421 239,947,093 230,844,429

°”‰√®“°Õ—μ√“·≈°‡ª≈’Ë¬π∑’Ë¬—ß‰¡à‡°‘¥¢÷Èπ - (2,755,082) - (2,755,082)

°”‰√®“°°“√¥”‡π‘πß“π

°àÕπ°“√‡ª≈’Ë¬π·ª≈ß„π ‘π∑√—æ¬å

·≈–Àπ’È ‘π¥”‡π‘πß“π 552,971,901 596,127,761 569,352,295 597,174,685

‘π∑√—æ¬å¥”‡π‘πß“π (‡æ‘Ë¡¢÷Èπ) ≈¥≈ß

À≈—°∑√—æ¬å‡æ◊ËÕ§â“ 111,589,009 78,161,617 111,589,009 78,161,617

≈Ÿ°Àπ’È°“√§â“ (1,419,691) (3,159,098) (1,419,691) (3,159,098)

≈Ÿ°Àπ’È°“√§â“ - ∫√‘…—∑∑’Ë‡°’Ë¬«¢âÕß°—π (5,299,262) (10,455,222) (5,299,262) (10,455,222)

≈Ÿ°Àπ’ÈÕ◊Ëπ - ∫√‘…—∑¬àÕ¬ - - 8,100,343 (8,100,343)

Õ–‰À≈à·≈–«— ¥ÿ§ß‡À≈◊Õ (6,016,946) (4,105,693) (5,355,572) (3,004,323)

‘π∑√—æ¬åÀ¡ÿπ‡«’¬πÕ◊Ëπ 17,405,492 158,707 8,057,193 9,747,042

‘π∑√—æ¬å‰¡àÀ¡ÿπ‡«’¬πÕ◊Ëπ (1,019,408) 949,267 (1,019,408) 949,267

Àπ’È ‘π¥”‡π‘πß“π‡æ‘Ë¡¢÷Èπ (≈¥≈ß)

‡®â“Àπ’È°“√§â“ 9,519,446 158,378,916 9,590,397 158,307,965

‡®â“Àπ’È∫√‘…—∑∑’Ë‡°’Ë¬«¢âÕß°—π (18,833,336) 24,630,736 (20,867,888) 23,192,207

‡®â“Àπ’Èß“π°àÕ √â“ß·≈–‡ß‘πª√–°—πº≈ß“π (35,911,292) (35,802,148) (27,416,764) (45,839,406)

¿“…’‡ß‘π‰¥âπ‘μ‘∫ÿ§§≈§â“ß®à“¬ 7,739,452 626,743 7,739,452 626,743

Àπ’È ‘πÀ¡ÿπ‡«’¬πÕ◊Ëπ (3,466,810) (8,329,806) (4,875,736) (8,921,041)

‡ß‘π ¥ ÿ∑∏‘®“°°‘®°√√¡¥”‡π‘πß“π 627,258,555 797,181,780 648,174,368 788,680,093

91

Statements of Cash Flows






2007 2006 2007 2006

Cash flows from (used in) operating activities

Net income for the year 311,601,875 368,018,878 329,406,425 369,094,794

Adjustment to reconcile net income to net cash

provided by (paid from) operating activities:-

Gains on disposal of equipment (1,223) (9,456) (1,223) (9,456)

Depreciation 241,371,249 230,873,421 239,947,093 230,844,429

Unrealized gains on exchange - (2,755,082) - (2,755,082)

Income from operating activities before

changes in operating assets

and liabilities 552,971,901 596,127,761 569,352,295 597,174,685

(Increase) decrease in operating assets

Securities held for trading 111,589,009 78,161,617 111,589,009 78,161,617

Trade accounts receivable (1,419,691) (3,159,098) (1,419,691) (3,159,098)

Trade accounts receivable - related company (5,299,262) (10,455,222) (5,299,262) (10,455,222)

Other receivable - subsidiary - - 8,100,343 (8,100,343)

Spare parts and supplies (6,016,946) (4,105,693) (5,355,572) (3,004,323)

Other current assets 17,405,492 158,707 8,057,193 9,747,042

Other non-current assets (1,019,408) 949,267 (1,019,408) 949,267

Increase (decrease) in operating liabilities

Trade accounts payable 9,519,446 158,378,916 9,590,397 158,307,965

Amounts due to related companies (18,833,336) 24,630,736 (20,867,888) 23,192,207

Construction and retention payables (35,911,292) (35,802,148) (27,416,764) (45,839,406)

Corporate income tax payable 7,739,452 626,743 7,739,452 626,743

Other current liabilities (3,466,810) (8,329,806) (4,875,736) (8,921,041)

Net cash flows from operating activities 627,258,555 797,181,780 648,174,368 788,680,093

92

ß∫°√–· ‡ß‘π ¥ (μàÕ)


∫√‘…—∑ À‚§‡®π (™≈∫ÿ√’) ®”°—¥ (¡À“™π) ·≈–∫√‘…—∑¬àÕ¬

”À√—∫ªï ‘Èπ ÿ¥«—π∑’Ë 31 ∏—π«“§¡ 2550 ·≈– 2549

(Àπà«¬: ∫“∑)ß∫°“√‡ß‘π√«¡ ß∫°“√‡ß‘π‡©æ“–°‘®°“√

2550 2549 2550 2549

°√–· ‡ß‘π ¥®“° („™â‰ª„π) °‘®°√√¡≈ß∑ÿπ

≈ß∑ÿπ„πμâπ∑ÿπ°“√ª≈Ÿ°æ◊™æ≈—ßß“π (23,639,068) - - -

®à“¬‡ß‘π≈ß∑ÿπ„π∫√‘…—∑¬àÕ¬ - - - (249,999,930)

‡ß‘π ¥√—∫®“°°“√®”Àπà“¬Õÿª°√≥å 22,570 18,280 1,755,920 111,290,223

´◊ÈÕ∑’Ë¥‘π Õ“§“√·≈–Õÿª°√≥å (115,475,234) (232,281,495) (73,407,038) (218,675,830)

‡ß‘π ¥ ÿ∑∏‘„™â ‰ª„π°‘®°√√¡≈ß∑ÿπ (139,091,732) (232,263,215) (71,651,118) (357,385,537)

°√–· ‡ß‘π ¥®“° („™â‰ª„π) °‘®°√√¡®—¥À“‡ß‘π

®à“¬§◊π‡ß‘π°Ÿâ¬◊¡√–¬–¬“« (227,700,000) (214,600,000) (227,700,000) (214,600,000)

‡ß‘πªíπº≈®à“¬ (286,500,000) (191,000,000) (286,500,000) (191,000,000)

‡ß‘π ¥ ÿ∑∏‘„™â ‰ª„π°‘®°√√¡®—¥À“‡ß‘π (514,200,000) (405,600,000) (514,200,000) (405,600,000)

‡ß‘π ¥·≈–√“¬°“√‡∑’¬∫‡∑à“‡ß‘π ¥

‡æ‘Ë¡¢÷Èπ (≈¥≈ß) ÿ∑∏‘ (26,033,177) 159,318,565 62,323,250 25,694,556

‡ß‘π ¥·≈–√“¬°“√‡∑’¬∫‡∑à“‡ß‘π ¥μâπªï 310,703,719 151,385,154 177,079,710 151,385,154

‡ß‘π ¥·≈–√“¬°“√‡∑’¬∫‡∑à“‡ß‘π ¥ª≈“¬ªï 284,670,542 310,703,719 239,402,960 177,079,710

- - - -

¢âÕ¡Ÿ≈°√–· ‡ß‘π ¥‡ªî¥‡º¬‡æ‘Ë¡‡μ‘¡

‡ß‘π ¥®à“¬√–À«à“ßß«¥ ”À√—∫

¥Õ°‡∫’È¬®à“¬ 135,497,989 134,722,003 135,888,879 134,722,003

¿“…’‡ß‘π‰¥âπ‘μ‘∫ÿ§§≈ 16,883,980 - 16,877,008 -

93

Statements of Cash Flows (Continued)






2007 2006 2007 2006

Cash flows from (used in) investing activities

Invest in project cost of energy plant farming (23,639,068) - - -

Payment of investment in subsidiary - - - (249,999,930)

Cash received from sales of equipment 22,570 18,280 1,755,920 111,290,223

Acquisition of property, plant and equipment (115,475,234) (232,281,495) (73,407,038) (218,675,830)

Net cash flows used in investing activities (139,091,732) (232,263,215) (71,651,118) (357,385,537)

Cash flows from (used in) financing activities

Repayment of long-term loans (227,700,000) (214,600,000) (227,700,000) (214,600,000)

Dividend paid (286,500,000) (191,000,000) (286,500,000) (191,000,000)

Net cash flows used in financing activities (514,200,000) (405,600,000) (514,200,000) (405,600,000)

Net increase (decrease) in cash and

cash equivalents (26,033,177) 159,318,565 62,323,250 25,694,556

Cash and cash equivalents at beginning of year 310,703,719 151,385,154 177,079,710 151,385,154

Cash and cash equivalents at end of year 284,670,542 310,703,719 239,402,960 177,079,710

- - - -

Supplemental cash flows information:-

Cash paid during the year for

Interest expenses 135,497,989 134,722,003 135,888,879 134,722,003

Corporate income tax 16,883,980 - 16,877,008 -

94

ß∫· ¥ß°“√‡ª≈’Ë¬π·ª≈ß à«π¢ÕßºŸâ∂◊ÕÀÿâπ


∫√‘…—∑ À‚§‡®π (™≈∫ÿ√’) ®”°—¥ (¡À“™π) ·≈–∫√‘…—∑¬àÕ¬

”À√—∫ªï ‘Èπ ÿ¥«—π∑’Ë 31 ∏—π«“§¡ 2550 ·≈– 2549

(Àπà«¬: ∫“∑)ß∫°“√‡ß‘π√«¡

∑ÿπ‡√◊ÕπÀÿâπ °”‰√ – ¡

∑’ËÕÕ°·≈–™”√–·≈â« à«π‡°‘π¡Ÿ≈§à“Àÿâπ ®—¥ √√·≈â« ¬—ß‰¡à‰¥â®—¥ √√ √«¡

¬Õ¥§ß‡À≈◊Õ ≥ «—π∑’Ë 31 ∏—π«“§¡ 2548 955,000,000 285,447,000 84,500,000 364,007,987 1,688,954,987

°”‰√ ÿ∑∏‘ ”À√—∫ªï - - - 368,018,878 368,018,878

‚Õπ‰ª ”√Õßμ“¡°ÆÀ¡“¬ - - 11,000,000 (11,000,000) -

‡ß‘πªíπº≈®à“¬ (À¡“¬‡Àμÿ 17) - - - (191,000,000) (191,000,000)

¬Õ¥§ß‡À≈◊Õ ≥ «—π∑’Ë 31 ∏—π«“§¡ 2549 955,000,000 285,447,000 95,500,000 530,026,865 1,865,973,865

°”‰√ ÿ∑∏‘ ”À√—∫ªï - - - 311,601,875 311,601,875

‡ß‘πªíπº≈®à“¬ (À¡“¬‡Àμÿ 17) - - - (286,500,000) (286,500,000)

¬Õ¥§ß‡À≈◊Õ ≥ «—π∑’Ë 31 ∏—π«“§¡ 2550 955,000,000 285,447,000 95,500,000 555,128,740 1,891,075,740

-

ß∫°“√‡ß‘π‡©æ“–°‘®°“√

∑ÿπ‡√◊ÕπÀÿâπ °”‰√ – ¡

∑’ËÕÕ°·≈–™”√–·≈â« à«π‡°‘π¡Ÿ≈§à“Àÿâπ ®—¥ √√·≈â« ¬—ß‰¡à‰¥â®—¥ √√ √«¡

¬Õ¥§ß‡À≈◊Õ ≥ «—π∑’Ë 31 ∏—π«“§¡ 2548 955,000,000 285,447,000 84,500,000 364,007,987 1,688,954,987

°”‰√ ÿ∑∏‘ ”À√—∫ªï - - - 369,094,794 369,094,794

‚Õπ‰ª ”√Õßμ“¡°ÆÀ¡“¬ - - 11,000,000 (11,000,000) -

‡ß‘πªíπº≈®à“¬ (À¡“¬‡Àμÿ 17) - - - (191,000,000) (191,000,000)

¬Õ¥§ß‡À≈◊Õ ≥ «—π∑’Ë 31 ∏—π«“§¡ 2549 955,000,000 285,447,000 95,500,000 531,102,781 1,867,049,781

°”‰√ ÿ∑∏‘ ”À√—∫ªï - - - 329,406,425 329,406,425

‡ß‘πªíπº≈®à“¬ (À¡“¬‡Àμÿ 17) - - - (286,500,000) (286,500,000)

¬Õ¥§ß‡À≈◊Õ ≥ «—π∑’Ë 31 ∏—π«“§¡ 2550 955,000,000 285,447,000 95,500,000 574,009,206 1,909,956,206

-

95



(Unit: Baht)Consolidated financial statements

Issued and Retained earningspaid-up

share capital Share premium Appropriated Unappropriated Total Balance as at 31 December 2005 955,000,000 285,447,000 84,500,000 364,007,987 1,688,954,987

Net income for the year - - - 368,018,878 368,018,878

Transferred to statutory reserve - - 11,000,000 (11,000,000) -

Dividend paid (Note 17) - - - (191,000,000) (191,000,000)

Balance as at 31 December 2006 955,000,000 285,447,000 95,500,000 530,026,865 1,865,973,865




-

Separate financial statementsIssued and Retained earnings

paid-upshare capital Share premium Appropriated Unappropriated Total



Transferred to statutory reserve - - 11,000,000 (11,000,000) -






-

Statements of Changes In Shareholdersû Equity


96

∫√‘…—∑ À‚§‡®π (™≈∫ÿ√’) ®”°—¥ (¡À“™π) ·≈–∫√‘…—∑¬àÕ¬

”À√—∫ªï ‘Èπ ÿ¥«—π∑’Ë 31 ∏—π«“§¡ 2550 ·≈– 2549

1. ¢âÕ¡Ÿ≈∑—Ë«‰ª∫√‘…—∑ À‚§‡®π (™≈∫ÿ√’) ®”°—¥ (¡À“™π) (ç∫√‘…—∑œé) ®—¥μ—Èß¢÷Èπ‡ªìπ∫√‘…—∑¡À“™π·≈–¡’¿Ÿ¡‘≈”‡π“„πª√–‡∑»‰∑¬

∏ÿ√°‘®À≈—°¢Õß∫√‘…—∑œ§◊Õ°“√º≈‘μ·≈–®”Àπà“¬æ≈—ßß“π‰øøÑ“·≈–‰ÕπÈ”‡æ◊ËÕÕÿμ “À°√√¡ ‚¥¬¡’∑’ËÕ¬Ÿàμ“¡∑’Ë®¥∑–‡∫’¬π

Õ¬Ÿà∑’Ë‡≈¢∑’Ë 636 À¡Ÿà 11 ∂ππ ÿ¢“¿‘∫“≈ 8 μ”∫≈ÀπÕß¢“¡ Õ”‡¿Õ»√’√“™“ ®—ßÀ«—¥™≈∫ÿ√’

2. ‡°≥±å„π°“√®—¥∑”ß∫°“√‡ß‘π2.1 ß∫°“√‡ß‘ππ’È®—¥∑”¢÷Èπμ“¡¡“μ√∞“π°“√∫—≠™’∑’Ë°”Àπ¥„πæ√–√“™∫—≠≠—μ‘«‘™“™’æ∫—≠™’ æ.». 2547 ·≈–

°“√· ¥ß√“¬°“√„πß∫°“√‡ß‘π‰¥â∑”¢÷Èπ‡æ◊ËÕ„Àâ‡ªìπ‰ªμ“¡¢âÕ°”Àπ¥„πª√–°“»°√¡æ—≤π“∏ÿ√°‘®°“√§â“≈ß«—π∑’Ë

14 °—π¬“¬π 2544 ÕÕ°μ“¡§«“¡„πæ√–√“™∫—≠≠—μ‘°“√∫—≠™’ æ.». 2543

ß∫°“√‡ß‘ππ’È ‰¥â®—¥∑”¢÷Èπ‚¥¬„™â‡°≥±å√“§“∑ÿπ‡¥‘¡‡«âπ·μà®–‰¥â‡ªî¥‡º¬‡ªìπÕ¬à“ßÕ◊Ëπ„ππ‚¬∫“¬°“√∫—≠™’

2.2 ‡°≥±å„π°“√®—¥∑”ß∫°“√‡ß‘π√«¡

°) ß∫°“√‡ß‘π√«¡π’È ‰¥â®—¥∑”¢÷Èπ‚¥¬√«¡ß∫°“√‡ß‘π¢Õß∫√‘…—∑ À‚§‡®π (™≈∫ÿ√’) ®”°—¥ (¡À“™π) ·≈–∫√‘…—∑

À‚§‡®π °√’π ®”°—¥ (‡¥‘¡™◊ËÕ ç∫√‘…—∑ À‚§‡®π °∫‘π∑√å∫ÿ√’ ®”°—¥é) ́ ÷Ëß∫√‘…—∑œ‰¥â‡√‘Ë¡≈ß∑ÿπ„π‡¥◊Õπæƒ»®‘°“¬π

2549 ·≈–¡’ —¥ à«π°“√∂◊ÕÀÿâπ„π∫√‘…—∑¥—ß°≈à“«„πÕ—μ√“√âÕ¬≈– 99.99 ∫√‘…—∑¬àÕ¬¥—ß°≈à“«ª√–°Õ∫∏ÿ√°‘®

°“√º≈‘μ·≈–®”Àπà“¬æ≈—ßß“π‰øøÑ“·≈–‰ÕπÈ”‡æ◊ËÕÕÿμ “À°√√¡ ´÷Ëß„πªí®®ÿ∫—π¬—ß‰¡à‰¥â‡√‘Ë¡ª√–°Õ∫°‘®°“√

∫√‘…—∑¬àÕ¬¡’ ‘π∑√—æ¬å√«¡·≈–√“¬‰¥â√«¡´÷Ëß√«¡Õ¬Ÿà„πß∫°“√‡ß‘π√«¡ ”À√—∫ªï ‘Èπ ÿ¥«—π∑’Ë 31 ∏—π«“§¡ 2550

§‘¥‡ªìπ√âÕ¬≈– 4.8 (2549: √âÕ¬≈– 5.2) ·≈–√âÕ¬≈– 0.1 μ“¡≈”¥—∫

º≈°“√¥”‡π‘πß“π¢Õß∫√‘…—∑¬àÕ¬‰¥â√«¡Õ¬Ÿà„πß∫°“√‡ß‘π√«¡μ—Èß·μà«—π∑’Ë‡¢â“´◊ÈÕÀÿâπ

¢) ¬Õ¥§ß§â“ß√–À«à“ß∫√‘…—∑œ·≈–∫√‘…—∑¬àÕ¬ √“¬°“√§â“√–À«à“ß°—π∑’Ë¡’ “√– ”§—≠‰¥âμ—¥ÕÕ°®“°ß∫°“√‡ß‘π√«¡

π’È·≈â«

§) ¬Õ¥‡ß‘π≈ß∑ÿπ„π∫√‘…—∑¬àÕ¬„π∫—≠™’¢Õß∫√‘…—∑œ‰¥âμ—¥°—∫ à«π¢ÕßºŸâ∂◊ÕÀÿâπ¢Õß∫√‘…—∑¬àÕ¬·≈â«

2.3 ∫√‘…—∑œ‰¥â®—¥∑”ß∫°“√‡ß‘π‡©æ“–°‘®°“√‡æ◊ËÕª√–‚¬™πåμàÕ “∏“√≥– ́ ÷Ëß· ¥ß‡ß‘π≈ß∑ÿπ„π ∫√‘…—∑¬àÕ¬μ“¡«‘∏’√“§“∑ÿπ

3. °“√ª√–°“»„™â¡“μ√∞“π°“√∫—≠™’„À¡à ¿“«‘™“™’æ∫—≠™’‰¥âÕÕ°ª√–°“» ¿“«‘™“™’æ∫—≠™’©∫—∫∑’Ë 9/2550 ©∫—∫∑’Ë 38/2550 ·≈–©∫—∫∑’Ë 62/2550

‡°’Ë¬«°—∫¡“μ√∞“π°“√∫—≠™’ ‚¥¬„Àâ„™â¡“μ√∞“π°“√∫—≠™’„À¡à¥—ßμàÕ‰ªπ’È

°) ¡“μ√∞“π°“√∫—≠™’∑’Ë¡’º≈∫—ß§—∫„™â„πªïªí®®ÿ∫—π

©∫—∫∑’Ë 44 (ª√—∫ª√ÿß 2550) ß∫°“√‡ß‘π√«¡·≈–ß∫°“√‡ß‘π‡©æ“–°‘®°“√

©∫—∫∑’Ë 45 (ª√—∫ª√ÿß 2550) ‡ß‘π≈ß∑ÿπ„π∫√‘…—∑√à«¡

©∫—∫∑’Ë 46 (ª√—∫ª√ÿß 2550) à«π‰¥â‡ ’¬„π°“√√à«¡§â“

¡“μ√∞“π°“√∫—≠™’¢â“ßμâπ„Àâ∂◊ÕªØ‘∫—μ‘°—∫ß∫°“√‡ß‘π ”À√—∫√Õ∫√–¬–‡«≈“∫—≠™’∑’Ë‡√‘Ë¡„πÀ√◊ÕÀ≈—ß«—π∑’Ë 1 ¡°√“§¡

2550 ‡ªìπμâπ‰ª

À¡“¬‡Àμÿª√–°Õ∫ß∫°“√‡ß‘π√«¡

97



1. GENERAL INFORMATIONSahacogen (Chonburi) Public Company Limited (çThe Companyé) is a public company incorporatedand domiciled in Thailand. The Company is principally engaged in the production and distribution ofelectricity and steam and its registered address is No. 636 Moo 11, Sukaphiban 8 Road, Nongkarm,Sriracha, Chonburi.

2. BASIS OF PREPARATION2.1 The financial statements have been prepared in accordance with accounting standards enunciated

under the Accounting Profession Act B.E. 2547. The presentation of the financial statements hasbeen made in compliance with the stipulations of the Notification of the Department of BusinessDevelopment dated 14 September 2001, issued under the Accounting Act B.E. 2543.

The financial statements have been prepared on a historical cost basis except where otherwise

disclosed in the accounting policies.

2.2 Basis of consolidationa) The consolidated financial statements include the financial statements of Sahacogen (Chonburi)

Public Company Limited and Sahacogen Green Company Limited (formerly known as çSahacogenKabinburi Company Limitedé) in which the Company has acquired in November 2006and holds 99.99 percent interest. The subsidiaryûs principal activity is the production anddistribution of electricity and steam, however the subsidiary has not operated yet.

Total assets and revenues of the subsidiary as included in the consolidated financialstatements as at 31 December 2007 comprise 4.8 percent (2006: 5.2 percent) and 0.1 percentof the total, respectively.

Results of operations of the subsidiary have been included in the consolidated financialstatements from the effective date of acquisition.

b) Material balances and transactions between the Company and its subsidiary have beeneliminated from the consolidated financial statements.

c) Investment in the subsidiary company as recorded in the Companyûs books of account iseliminated against the subsidiaryûs equity.

2.3 The separate financial statements, which present investment in subsidiary under the cost method,have been prepared solely for the benefit of the public.

3. ADOPTION OF NEW ACCOUNTING STANDARDSThe Federation of Accounting Professions (FAP) has issued Notifications No. 9/2550, 38/2550 and 62/2550 regarding Accounting Standards. The notifications mandate the use of the following new Account-ing Standards.a) Thai Accounting Standards which are effective for the current year

TAS 44 (revised 2007) Consolidated Financial Statements and Separate Financial StatementsTAS 45 (revised 2007) Investments in AssociatesTAS 46 (revised 2007) Interests in Joint Ventures

NOTES TO CONSOLIDATED FINANCIAL STATEMENTS

98

¢) ¡“μ√∞“π°“√∫—≠™’∑’Ë¬—ß‰¡à¡’º≈∫—ß§—∫„™â„πªïªí®®ÿ∫—π

©∫—∫∑’Ë 25 (ª√—∫ª√ÿß 2550) ß∫°√–· ‡ß‘π ¥

©∫—∫∑’Ë 29 (ª√—∫ª√ÿß 2550) —≠≠“‡™à“

©∫—∫∑’Ë 31 (ª√—∫ª√ÿß 2550) ‘π§â“§ß‡À≈◊Õ

©∫—∫∑’Ë 33 (ª√—∫ª√ÿß 2550) μâπ∑ÿπ°“√°Ÿâ¬◊¡

©∫—∫∑’Ë 35 (ª√—∫ª√ÿß 2550) °“√π”‡ πÕß∫°“√‡ß‘π

©∫—∫∑’Ë 39 (ª√—∫ª√ÿß 2550) π‚¬∫“¬°“√∫—≠™’ °“√‡ª≈’Ë¬π·ª≈ßª√–¡“≥°“√∑“ß∫—≠™’·≈–¢âÕº‘¥æ≈“¥

©∫—∫∑’Ë 41 (ª√—∫ª√ÿß 2550) ß∫°“√‡ß‘π√–À«à“ß°“≈

©∫—∫∑’Ë 43 (ª√—∫ª√ÿß 2550) °“√√«¡∏ÿ√°‘®

©∫—∫∑’Ë 49 (ª√—∫ª√ÿß 2550) —≠≠“°àÕ √â“ß

©∫—∫∑’Ë 51 ‘π∑√—æ¬å‰¡à¡’μ—«μπ

¡“μ√∞“π°“√∫—≠™’¢â“ßμâπ„Àâ∂◊ÕªØ‘∫—μ‘°—∫ß∫°“√‡ß‘π ”À√—∫√Õ∫√–¬–‡«≈“∫—≠™’∑’Ë‡√‘Ë¡„πÀ√◊ÕÀ≈—ß«—π∑’Ë 1 ¡°√“§¡

2551 ‡ªìπμâπ‰ª ΩÉ“¬∫√‘À“√¢Õß∫√‘…—∑œ‰¥âª√–‡¡‘π·≈â«‡ÀÁπ«à“¡“μ√∞“π°“√∫—≠™’©∫—∫¥—ß°≈à“«®–‰¡à¡’º≈°√–∑∫

Õ¬à“ß‡ªìπ “√– ”§—≠μàÕß∫°“√‡ß‘π ”À√—∫ªï∑’Ë‡√‘Ë¡„™â¡“μ√∞“π°“√∫—≠™’©∫—∫¥—ß°≈à“«

4. π‚¬∫“¬°“√∫—≠™’∑’Ë ”§—≠4.1 °“√√—∫√Ÿâ√“¬‰¥â

¢“¬ ‘π§â“

√“¬‰¥â®“°°“√¢“¬ ‘π§â“√—∫√Ÿâ‡¡◊ËÕ∫√‘…—∑œ‰¥â‚Õπ§«“¡‡ ’Ë¬ß·≈–º≈μÕ∫·∑π∑’Ë‡ªìπ “√– ”§—≠¢Õß§«“¡‡ªìπ

‡®â“¢Õß ‘π§â“„Àâ°—∫ºŸâ´◊ÈÕ·≈â« √“¬‰¥â®“°°“√¢“¬· ¥ß¡Ÿ≈§à“μ“¡√“§“„π„∫°”°—∫ ‘π§â“‚¥¬‰¡à√«¡¿“…’¡Ÿ≈§à“‡æ‘Ë¡

”À√—∫ ‘π§â“∑’Ë‰¥â àß¡Õ∫À≈—ß®“°À—° à«π≈¥·≈â«

¥Õ°‡∫’È¬√—∫

¥Õ°‡∫’È¬∂◊Õ‡ªìπ√“¬‰¥âμ“¡‡°≥±å§ß§â“ß‚¥¬§”π÷ß∂÷ßÕ—μ√“º≈μÕ∫·∑π∑’Ë·∑â®√‘ß

4.2 ‡ß‘π ¥·≈–√“¬°“√‡∑’¬∫‡∑à“‡ß‘π ¥

‡ß‘π ¥·≈–√“¬°“√‡∑’¬∫‡∑à“‡ß‘π ¥ À¡“¬∂÷ß ‡ß‘π ¥·≈–‡ß‘πΩ“°∏π“§“√ ·≈–‡ß‘π≈ß∑ÿπ√–¬– —Èπ∑’Ë¡’ ¿“æ

§≈àÕß Ÿß ÷́Ëß∂÷ß°”Àπ¥®à“¬§◊π¿“¬„π√–¬–‡«≈“‰¡à‡°‘π 3 ‡¥◊Õππ—∫®“°«—π∑’Ë‰¥â¡“·≈–‰¡à¡’¢âÕ®”°—¥„π°“√‡∫‘°„™â

4.3 Õ–‰À≈à·≈–«— ¥ÿ§ß‡À≈◊Õ

Õ–‰À≈à·≈–«— ¥ÿ§ß‡À≈◊Õ· ¥ß¡Ÿ≈§à“μ“¡√“§“∑ÿπ∂—«‡©≈’Ë¬À√◊Õ¡Ÿ≈§à“ ÿ∑∏‘∑’Ë§“¥«à“®–‰¥â√—∫·≈â«·μà√“§“„¥®–

μË”°«à“ ·≈–®–∂◊Õ‡ªìπ à«πÀπ÷Ëß¢Õßμâπ∑ÿπ°“√º≈‘μ‡¡◊ËÕ¡’°“√‡∫‘°„™â

4.4 ‡ß‘π≈ß∑ÿπ

°) ‡ß‘π≈ß∑ÿπ„πÀ≈—°∑√—æ¬å‡æ◊ËÕ§â“· ¥ßμ“¡¡Ÿ≈§à“¬ÿμ‘∏√√¡ ∫√‘…—∑œ∫—π∑÷°°“√‡ª≈’Ë¬π·ª≈ß¡Ÿ≈§à“¢ÕßÀ≈—°∑√—æ¬å

‡ªìπ√“¬°“√°”‰√À√◊Õ¢“¥∑ÿπ„πß∫°”‰√¢“¥∑ÿπ

¢) ‡ß‘π≈ß∑ÿπ„π∫√‘…—∑¬àÕ¬∑’Ë· ¥ßÕ¬Ÿà„πß∫°“√‡ß‘π‡©æ“–°‘®°“√· ¥ß¡Ÿ≈§à“μ“¡«‘∏’√“§“∑ÿπ

4.5 ∑’Ë¥‘π Õ“§“√·≈–Õÿª°√≥å·≈–§à“‡ ◊ËÕ¡√“§“

∑’Ë¥‘π· ¥ß¡Ÿ≈§à“μ“¡√“§“∑ÿπ Õ“§“√·≈–Õÿª°√≥å· ¥ß¡Ÿ≈§à“μ“¡√“§“∑ÿπÀ—°§à“‡ ◊ËÕ¡√“§“ – ¡

§à“‡ ◊ËÕ¡√“§“¢Õß‚√ß‰øøÑ“ Õ“§“√·≈–Õÿª°√≥å§”π«≥®“°√“§“∑ÿπ¢Õß ‘π∑√—æ¬å‚¥¬«‘∏’‡ âπμ√ßμ“¡Õ“¬ÿ°“√

„™âß“π‚¥¬ª√–¡“≥¥—ßμàÕ‰ªπ’È: -

99

These accounting standards become effective for the financial statements for fiscal years beginningon or after 1 January 2007.

b) Thai Accounting Standards which are not effective for the current yearTAS 25 (revised 2007) Cash Flow StatementsTAS 29 (revised 2007) LeasesTAS 31 (revised 2007) InventoriesTAS 33 (revised 2007) Borrowing CostsTAS 35 (revised 2007) Presentation of Financial StatementsTAS 39 (revised 2007) Accounting Policies, Changes in Accounting Estimates and ErrorsTAS 41 (revised 2007) Interim Financial ReportingTAS 43 (revised 2007) Business CombinationsTAS 49 (revised 2007) Construction ContractsTAS 51 Intangible Assets

These accounting standards will become effective for the financial statements for fiscal yearsbeginning on or after 1 January 2008. The management has assessed the effect of these revisedaccounting standards and believes that they will not have any significant impact on the financialstatements for the year in which they are initially applied.

4. SIGNIFICANT ACCOUNTING POLICIES4.1 Revenue Recognition

Sales of goodsSales of goods are recognized when the significant risks and rewards of ownership of the goodshave passed to the buyer. Sales are the invoiced value, excluding value added tax, of goodssupplied after deducting discounts and allowances.

Interest incomeInterest income is recognized as interest accrues taking into account the effective rate method.

4.2 Cash and cash equivalentsCash and cash equivalents consist of cash in hand, cash at banks, and all highly liquid investmentswith an original maturity of three months or less and not subject to withdrawal restrictions.

4.3 Spare parts and suppliesSpare parts and supplies are valued at the lower of average cost and net realisable value andconstitute part of production costs whenever consumed.

4.4 Investmentsa) Investments in securities held for trading are presented at fair value. Gains or losses arising

from change in the carrying amounts of securities are included in determining income.

b) Investment in subsidiary company is accounted for in the separate financial statements usingthe cost method.

4.5 Property, plant and equipment/DepreciationLand is stated at cost. Plant and equipment are stated at cost less accumulated depreciation.

Depreciation of power plant, buildings and equipment is calculated by reference to their costs onthe straight-line method over the following estimated useful lives: -

100

‚√ß‰øøÑ“ 30 ªï

à«πª√—∫ª√ÿß‚√ß‰øøÑ“ 3 - 6 ªï

Õ“§“√ 25 ªï

‡§√◊ËÕß¡◊Õ·≈–Õÿª°√≥å 5 ªï

‡§√◊ËÕß„™â·≈–‡§√◊ËÕßμ°·μàß 3 - 5 ªï

¬“πæ“Àπ– 5 ªï

‰¡à¡’°“√§‘¥§à“‡ ◊ËÕ¡√“§“ ”À√—∫∑’Ë¥‘π·≈–ß“π√–À«à“ß°àÕ √â“ß

§à“‡ ◊ËÕ¡√“§“√«¡Õ¬Ÿà„π°“√§”π«≥º≈°“√¥”‡π‘πß“π

4.6 √“¬°“√∏ÿ√°‘®°—∫∫ÿ§§≈À√◊Õ°‘®°“√∑’Ë‡°’Ë¬«¢âÕß°—π

∫ÿ§§≈À√◊Õ°‘®°“√∑’Ë‡°’Ë¬«¢âÕß°—π°—∫∫√‘…—∑œ À¡“¬∂÷ß ∫ÿ§§≈À√◊Õ°‘®°“√∑’Ë¡’Õ”π“®§«∫§ÿ¡∫√‘…—∑œ À√◊Õ∂Ÿ°

§«∫§ÿ¡‚¥¬∫√‘…—∑œ‰¡à«à“®–‡ªìπ‚¥¬∑“ßμ√ßÀ√◊Õ∑“ßÕâÕ¡ À√◊ÕÕ¬Ÿà¿“¬„μâ°“√§«∫§ÿ¡‡¥’¬«°—π°—∫∫√‘…—∑œ

πÕ°®“°π’È ∫ÿ§§≈À√◊Õ°‘®°“√∑’Ë‡°’Ë¬«¢âÕß°—π¬—ßÀ¡“¬√«¡∂÷ß∫ÿ§§≈´÷Ëß¡’Õ‘∑∏‘æ≈Õ¬à“ß‡ªìπ “√– ”§—≠°—∫∫√‘…—∑œ

ºŸâ∫√‘À“√ ”§—≠ °√√¡°“√À√◊Õæπ—°ß“π¢Õß∫√‘…—∑œ ∑’Ë¡’Õ”π“®„π°“√«“ß·ºπ·≈–§«∫§ÿ¡°“√¥”‡π‘πß“π¢Õß∫√‘…—∑œ

4.7 ‡ß‘πμ√“μà“ßª√–‡∑»

√“¬°“√∑’Ë‡ªìπ‡ß‘πμ√“μà“ßª√–‡∑»·ª≈ß§à“‡ªìπ‡ß‘π∫“∑‚¥¬„™âÕ—μ√“·≈°‡ª≈’Ë¬π ≥ «—π∑’Ë∑’Ë‡°‘¥√“¬°“√ ‘π∑√—æ¬å

·≈–Àπ’È ‘π∑’Ë‡ªìπ‡ß‘πμ√“μà“ßª√–‡∑»§ß‡À≈◊ÕÕ¬Ÿà ≥ «—π∑’Ë„πß∫¥ÿ≈·ª≈ß§à“‡ªìπ‡ß‘π∫“∑‚¥¬„™âÕ—μ√“·≈°‡ª≈’Ë¬π

≥ «—π∑’Ë„πß∫¥ÿ≈

°”‰√·≈–¢“¥∑ÿπ∑’Ë‡°‘¥®“°°“√‡ª≈’Ë¬π·ª≈ß„πÕ—μ√“·≈°‡ª≈’Ë¬π√«¡Õ¬Ÿà„π°“√§”π«≥º≈°“√¥”‡π‘πß“π

4.8 °“√¥âÕ¬§à“¢Õß ‘π∑√—æ¬å∑ÿ°«—π∑’Ë„πß∫¥ÿ≈ ∫√‘…—∑œ®–∑”°“√ª√–‡¡‘π«à“¡’¢âÕ∫àß™’È́ ÷Ëß· ¥ß«à“ ‘π∑√—æ¬å¢Õß∫√‘…—∑œ ¥âÕ¬§à“≈ßÀ√◊Õ‰¡à À“°

¡’¢âÕ∫àß™’È¢Õß°“√¥âÕ¬§à“ ∫√‘…—∑œ®–∑”°“√ª√–¡“≥¡Ÿ≈§à“∑’Ë§“¥«à“®–‰¥â√—∫§◊π¢Õß ‘π∑√—æ¬å·≈–À“°æ∫«à“√“§“μ“¡

∫—≠™’¢Õß ‘π∑√—æ¬åπ—Èπ¡’¡Ÿ≈§à“ Ÿß°«à“¡Ÿ≈§à“∑’Ë§“¥«à“®–‰¥â√—∫§◊π ∫√‘…—∑œ®–≈¥¡Ÿ≈§à“¢Õß ‘π∑√—æ¬å≈ß„Àâ‡∑à“°—∫¡Ÿ≈§à“

∑’Ë§“¥«à“®–‰¥â√—∫§◊π ·≈–√—∫√Ÿâº≈¢“¥∑ÿπ®“°°“√¥âÕ¬§à“¢Õß ‘π∑√—æ¬å„πß∫°”‰√¢“¥∑ÿπ (¡Ÿ≈§à“∑’Ë§“¥«à“®–‰¥â√—∫§◊π

¢Õß ‘π∑√—æ¬åÀ¡“¬∂÷ß√“§“¢“¬ ÿ∑∏‘À√◊Õ¡Ÿ≈§à“®“°°“√„™â¢Õß ‘π∑√—æ¬åπ—Èπ·≈â«·μà®”π«π„¥®– Ÿß°«à“)

4.9 º≈ª√–‚¬™πåæπ—°ß“π

∫√‘…—∑œ√—∫√Ÿâ ‡ß‘π‡¥◊Õπ §à“®â“ß ‚∫π— ·≈–‡ß‘π ¡∑∫°Õß∑ÿπª√–°—π —ß§¡·≈–°Õß∑ÿπ ”√Õß‡≈’È¬ß™’æ‡ªìπ§à“

„™â®à“¬‡¡◊ËÕ‡°‘¥√“¬°“√

4.10 ¿“…’‡ß‘π‰¥â

∫√‘…—∑œ∫—π∑÷°¿“…’‡ß‘π‰¥â‚¥¬§”π«≥®“°°”‰√ ÿ∑∏‘∑“ß¿“…’μ“¡°ÆÀ¡“¬¿“…’Õ“°√

4.11 μâπ∑ÿπ°“√°Ÿâ¬◊¡

¥Õ°‡∫’È¬®à“¬·≈–§à“∏√√¡‡π’¬¡ºŸ°æ—π‡ß‘π°Ÿâ∑’Ë‡°‘¥®“°°“√°Ÿâ¬◊¡‡æ◊ËÕ„™â„π√–À«à“ß°“√°àÕ √â“ß‚√ß‰øøÑ“ ·≈–

μ‘¥μ—Èß‡§√◊ËÕß®—°√∂◊Õ‡ªìπ à«πÀπ÷Ëß¢Õßμâπ∑ÿπ¢Õß ‘π∑√—æ¬å·≈–®–À¬ÿ¥∫—π∑÷°‡¡◊ËÕ ‘π∑√—æ¬åπ—ÈπÕ¬Ÿà„π ¿“ææ√âÕ¡„™âß“π‰¥â

101

Power plant 30 yearsPower plant improvement 3 - 6 yearsBuildings 25 yearsTools and equipment 5 yearsFurniture and fixtures 3 - 5 yearsVehicles 5 years

No depreciation is provided for land and construction in progress.

Depreciation is included in determining income.

4.6 Related party transactionsRelated parties comprise enterprises and individuals that control or are controlled by the Company,whether directly or indirectly, or which are under common control with the Company.

They also include individuals which directly or indirectly own a voting interest in the Company thatgives them significant influence over the Company, key management personnel, directors andofficers with authority in the planning and direction of the Companyûs operations.

4.7 Foreign currenciesForeign currency transactions are translated into Baht at the exchange rates ruling on thetransaction dates. Assets and liabilities denominated in foreign currencies outstanding at thebalance sheet date are translated into Baht at the exchange rates ruling on the balance sheet date,with the exception of those covered by forward exchange contracts, which are translated at thecontracted rates.

Gains and losses on exchange are included in determining income.

4.8 Impairment of assetsThe Company assesses at each reporting date whether there is an indication that an asset maybe impaired. If any such indication exists, the Company makes an estimate of the assetûsrecoverable amount. Where the carrying amount of the asset exceeds its recoverable amount, theasset is considered impaired and is written down to its recoverable amount. Impairment losses arerecognised in the income statement. An assetûs recoverable amount is the higher of fair value lesscosts to sell and value in use.

4.9 Employee benefitsSalaries, wages, bonuses and contributions to the social security fund and provident fund arerecognised as expenses when incurred.

4.10 Income TaxIncome tax is provided for in the accounts based on the taxable profits determined in accordancewith tax legislation.

4.11 Borrowing costThe interest cost of borrowings for the construction of the power plant and installation ofmachinery, and related commitment fees, are capitalized as part of the cost of the assets.Capitalisation ceases when the assets are ready for their intended use.

102

4.12 °“√„™âª√–¡“≥°“√∑“ß∫—≠™’

„π°“√®—¥∑”ß∫°“√‡ß‘πμ“¡À≈—°°“√∫—≠™’∑’Ë√—∫√Õß∑—Ë«‰ª „π∫“ß ∂“π°“√≥åΩÉ“¬∫√‘À“√Õ“®μâÕß„™â°“√

ª√–¡“≥·≈–°“√μ—Èß ¡¡μ‘∞“π ́ ÷Ëß¡’º≈°√–∑∫μàÕ®”π«π‡ß‘π∑’Ë· ¥ß„πß∫°“√‡ß‘π·≈–À¡“¬‡Àμÿª√–°Õ∫ß∫°“√‡ß‘π

¥â«¬‡Àμÿπ’Èº≈∑’Ë‡°‘¥¢÷Èπ®√‘ß®÷ßÕ“®·μ°μà“ß‰ª®“°®”π«π∑’Ëª√–¡“≥‰«â

5. ≈Ÿ°Àπ’È°“√§â“¬Õ¥§ß‡À≈◊Õ≈Ÿ°Àπ’È°“√§â“ ≥ «—π∑’Ë 31 ∏—π«“§¡ 2550 ·≈– 2549 ‡ªìπÀπ’È∑’Ë¬—ß‰¡à∂÷ß°”Àπ¥™”√–

6. √“¬°“√∏ÿ√°‘®°—∫°‘®°“√∑’Ë‡°’Ë¬«¢âÕß°—π„π√–À«à“ßªï ∫√‘…—∑œ·≈–∫√‘…—∑¬àÕ¬¡’√“¬°“√∏ÿ√°‘®∑’Ë ”§—≠°—∫∫ÿ§§≈À√◊Õ°‘®°“√∑’Ë‡°’Ë¬«¢âÕß°—π √“¬°“√∏ÿ√°‘®

¥—ß°≈à“«‡ªìπ‰ªμ“¡‡ß◊ËÕπ‰¢∑“ß°“√§â“·≈–‡°≥±åμ“¡∑’Ëμ°≈ß°—π√–À«à“ß∫√‘…—∑œ·≈–∫√‘…—∑‡À≈à“π—Èπ ´÷Ëß‡ªìπ‰ªμ“¡ª°μ‘

∏ÿ√°‘®‚¥¬ “¡“√∂ √ÿª‰¥â¥—ßπ’È

(Àπà«¬: ≈â“π∫“∑)ß∫°“√‡ß‘π√«¡ ß∫°“√‡ß‘π‡©æ“–°‘®°“√ π‚¬∫“¬°“√°”Àπ¥√“§“

2550 2549 2550 2549√“¬°“√∏ÿ√°‘®°—∫∫√‘…—∑¬àÕ¬(μ—¥ÕÕ°®“°ß∫°“√‡ß‘π√«¡·≈â«)∫√‘…—∑ À‚§‡®π °√’π ®”°—¥¢“¬∑√—æ¬å ‘π - - 1.7 111.3 √“§“∑ÿπ¥Õ°‡∫’È¬®à“¬ - - 0.4 - Õ—μ√“¥Õ°‡∫’È¬‡ß‘πΩ“°ª√–®”

¢Õß∏π“§“√æ“≥‘™¬å„πª√–‡∑»

‡ß‘π°Ÿâ¬◊¡ (®”π«π∂—«‡©≈’Ë¬∂à«ßπÈ”Àπ—°¢Õß - - 11.2 -‡ß‘π„Àâ°Ÿâ¬◊¡§ß§â“ß√–À«à“ßß«¥)

√“¬°“√∏ÿ√°‘®°—∫∫√‘…—∑∑’Ë‡°’Ë¬«¢âÕß°—π∫√‘…—∑ Àæ—≤π“Õ‘π‡μÕ√å‚Œ≈¥‘Èß ®”°—¥ (¡À“™π)¢“¬æ≈—ßß“π‰øøÑ“ 902.2 892.0 902.2 892.0 Õ—μ√“§à“‰øøÑ“¢Õß°“√‰øøÑ“

à«π¿Ÿ¡‘¿“§À—°¥â«¬Õ—μ√“ à«π≈¥

¢“¬æ≈—ßß“π‰ÕπÈ” 257.6 257.5 257.6 257.5 √“§“μ“¡ —≠≠“§à“∏√√¡‡π’¬¡®à“¬ ”À√—∫°“√§È”ª√–°—π 5.5 5.5 5.5 5.5 √“§“μ“¡ —≠≠“

§«“¡μâÕß°“√‰øøÑ“¢—ÈπμË”§à“πÈ”¥‘∫·≈–§à“∫”∫—¥πÈ”‡ ’¬®à“¬ 2.4 3.7 2.4 3.6 √“§“‡ªìπ‰ªμ“¡ª°μ‘

‡™àπ‡¥’¬«°—∫ ≈Ÿ°§â“∑—Ë«‰ª§à“‡™à“∑’Ë¥‘π 2.6 - - - √“§“μ“¡ —≠≠“∫√‘…—∑ ÕÕªÕ‡√™—ËππÕ≈ ‡ÕÁπ‡πÕ√å¬’Ë °√ÿäª ®”°—¥§à“∫√‘°“√¥â“π°“√®—¥°“√®à“¬ 69.2 78.2 69.2 78.2 √“§“μ“¡ —≠≠“§à“‡™à“‡§√◊ËÕß®—°√ 46.1 59.6 46.1 59.6 √“§“μ“¡ —≠≠“∫√‘…—∑ ‘π¿√“¥√ ®”°—¥§à“‡™à“∑’Ë¥‘π 1.7 1.7 1.7 1.7 √“§“μ“¡ —≠≠“∫√‘…—∑ æ‘∑—°…å°‘® ®”°—¥§à“∫√‘°“√ 17.3 19.6 - 18.2 √“§“μ“¡ —≠≠“

103

4.12 Use of accounting estimatesPreparation of financial statements in conformity with generally accepted accounting principlesrequires management to make estimates and assumptions in certain circumstances, affectingamounts reported in these financial statements and related notes. Actual results could differ fromthese estimates.

5. TRADE ACCOUNTS RECEIVABLEAs at 31 December 2007 and 2006, the outstanding balances of trade accounts receivable are not yet due.

6. RELATED PARTY TRANSACTIONSDuring the years, the Company and its subsidiaries had significant business transactions with relatedparties, which have been concluded on commercial terms and bases agreed upon in the ordinary courseof business between the Company and those companies. Below is a summary of those transactions.

(Unit: Million Baht)Consolidated Separate Pricing policy

financial financialstatements statements

2007 2006 2007 2006Transactions with subsidiary(eliminated from the consolidated

financial statements)Sahacogen Green Company LimitedSales of assets - - 1.7 111.3 At costInterest expenses - - 0.4 - Interest rate of fixed

deposit with localcommercial bank

Loans (weighted average balance of - - 11.2 -outstanding loans during the year)

Transactions with related companiesSaha Pathana Inter-Holding Public

Company LimitedSales of electricity 902.2 892.0 902.2 892.0 Electricity rate charged by

the Provincial ElectricityAuthority, deducted bycertain discount

Sales of steam 257.6 257.5 257.6 257.5 Contract priceFee paid for guarantee of minimum

electricity demand 5.5 5.5 5.5 5.5 Contract priceRaw water and waste water treatment costs 2.4 3.7 2.4 3.6 Price charged to other

customers in the normalcourse of business

Land rental expense 2.6 - - - Contract priceOperational Energy Group LimitedOperation and service management fees 69.2 78.2 69.2 78.2 Contract priceMachinery lease fees 46.1 59.6 46.1 59.6 Contract priceSinparadorn Company LimitedLand rental expense 1.7 1.7 1.7 1.7 Contract pricePitakkij Company LimitedService charges 17.3 19.6 - 18.2 Contract price

104

¬Õ¥§ß§â“ß√–À«à“ß∫√‘…—∑œ·≈–∫√‘…—∑∑’Ë‡°’Ë¬«¢âÕß°—π ≥ «—π∑’Ë 31 ∏—π«“§¡ 2550 ·≈– 2549 ¡’√“¬≈–‡Õ’¬¥¥—ßπ’È

(Àπà«¬: ∫“∑)ß∫°“√‡ß‘π√«¡ ß∫°“√‡ß‘π‡©æ“–°‘®°“√

2550 2549 2550 2549

≈Ÿ°Àπ’È°“√§â“ - ∫√‘…—∑∑’Ë‡°’Ë¬«¢âÕß°—π

∫√‘…—∑∑’Ë‡°’Ë¬«¢âÕß°—π

∫√‘…—∑ Àæ—≤π“Õ‘π‡μÕ√å‚Œ≈¥‘Èß ®”°—¥ (¡À“™π) 96,059,933 90,760,671 96,059,933 90,760,671

√«¡≈Ÿ°Àπ’È°“√§â“ - ∫√‘…—∑∑’Ë‡°’Ë¬«¢âÕß°—π 96,059,933 90,760,671 96,059,933 90,760,671

≈Ÿ°Àπ’ÈÕ◊Ëπ - ∫√‘…—∑∑’Ë‡°’Ë¬«¢âÕß°—π

∫√‘…—∑¬àÕ¬

∫√‘…—∑ À‚§‡®π °√’π ®”°—¥ - - - 8,100,343

√«¡≈Ÿ°Àπ’ÈÕ◊Ëπ - ∫√‘…—∑∑’Ë‡°’Ë¬«¢âÕß°—π - - - 8,100,343

‡®â“Àπ’È∫√‘…—∑∑’Ë‡°’Ë¬«¢âÕß°—π

∫√‘…—∑∑’Ë‡°’Ë¬«¢âÕß°—π

∫√‘…—∑ ÕÕªÕ‡√™—ËππÕ≈ ‡ÕÁπ‡πÕ√å¬’Ë °√ÿäª ®”°—¥ 30,408,076 50,865,001 30,408,076 50,865,001

∫√‘…—∑ Àæ—≤π“Õ‘π‡μÕ√å‚Œ≈¥‘Èß ®”°—¥ (¡À“™π) 218,606 429,256 218,606 297,381

∫√‘…—∑ æ‘∑—°…å°‘® ®”°—¥ 3,473,081 1,638,842 - 332,188

√«¡‡®â“Àπ’È∫√‘…—∑∑’Ë‡°’Ë¬«¢âÕß°—π 34,099,763 52,933,099 30,626,682 51,494,570

§à“μÕ∫·∑π°√√¡°“√·≈–ºŸâ∫√‘À“√

„πªï 2550 ∫√‘…—∑œ‰¥â®à“¬‡ß‘π‡¥◊Õπ §à“‡∫’È¬ª√–™ÿ¡·≈–‡ß‘π∫”‡ÀπÁ®„Àâ·°à°√√¡°“√·≈–ºŸâ∫√‘À“√ ‡ªìπ®”π«π‡ß‘π 25.1

≈â“π∫“∑ (2549: ®”π«π 19.9 ≈â“π∫“∑)

105

The balances of the accounts as at 31 December 2007 and 2006 between the Company and thoserelated companies are as follows:


financial statements financial statements2007 2006 2007 2006

Trade accounts receivable - related company

Related company

Saha Pathana Inter-Holding Public 96,059,933 90,760,671 96,059,933 90,760,671

Company Limited

Total trade accounts receivable - related company 96,059,933 90,760,671 96,059,933 90,760,671

Other receivable - related company

Subsidiary

Sahacogen Green Company Limited - - - 8,100,343

Total other receivable - related company - - - 8,100,343

Amount due to related companies

Related companies

Operational Energy Group Limited 30,408,076 50,865,001 30,408,076 50,865,001

Saha Pathana Inter-Holding Public 218,606 429,256 218,606 297,381

Company Limited

Pitakkij Company Limited 3,473,081 1,638,842 - 332,188

Total amount due to related companies 34,099,763 52,933,099 30,626,682 51,494,570

Directors and managementûs remunerationIn 2007 the Company paid salaries, meeting allowances and gratuities to their directors and

management totaling Baht 25.1 million (2006: Baht 19.9 million).

106

7. ∑’Ë¥‘π Õ“§“√·≈–Õÿª°√≥å(Àπà«¬: ∫“∑)

ß∫°“√‡ß‘π√«¡

à«πª√—∫ª√ÿß ‡§√◊ËÕß¡◊Õ ‡§√◊ËÕß„™â·≈– ß“π√–À«à“ß

∑’Ë¥‘π ‚√ß‰øøÑ“ ‚√ß‰øøÑ“ Õ“§“√ ·≈–Õÿª°√≥å ‡§√◊ËÕßμ°·μàß ¬“πæ“Àπ– °àÕ √â“ß √«¡

√“§“∑ÿπ

31 ∏—π«“§¡ 2549 104,871,396 4,603,852,936 246,914,955 51,391,859 37,106,433 48,475,186 15,993,142 132,056,981 5,240,662,888

´◊ÈÕ‡æ‘Ë¡ - - - 68,000 5,157,598 3,016,143 3,148,380 104,085,113 115,475,234

‚Õπ‡¢â“ (ÕÕ°) - 7,015,958 46,705,133 262,000 - - - (53,983,091) -

®”Àπà“¬ - - - - - (649,645) (208,360) - (858,005)

31 ∏—π«“§¡ 2550 104,871,396 4,610,868,894 293,620,088 51,721,859 42,264,031 50,841,684 18,933,162 182,159,003 5,355,280,117

§à“‡ ◊ËÕ¡√“§“ – ¡

31 ∏—π«“§¡ 2549 - 875,925,791 105,094,051 3,913,368 22,893,927 14,368,361 2,969,508 - 1,025,165,006

§à“‡ ◊ËÕ¡√“§“ ”À√—∫ªï - 155,097,263 67,513,619 2,068,357 4,373,356 9,514,946 2,803,708 - 241,371,249

§à“‡ ◊ËÕ¡√“§“-®”Àπà“¬ - - - - - (628,286) (208,372) - (836,658)

31 ∏—π«“§¡ 2550 - 1,031,023,054 172,607,670 5,981,725 27,267,283 23,255,021 5,564,844 - 1,265,699,597

¡Ÿ≈§à“ ÿ∑∏‘μ“¡∫—≠™’

31 ∏—π«“§¡ 2549 104,871,396 3,727,927,145 141,820,904 47,478,491 14,212,506 34,106,825 13,023,634 132,056,981 4,215,497,882

31 ∏—π«“§¡ 2550 104,871,396 3,579,845,840 121,012,418 45,740,134 14,996,748 27,586,663 13,368,318 182,159,003 4,089,580,520

§à“‡ ◊ËÕ¡√“§“ ”À√—∫ªï

2549 (®”π«π 220 ≈â“π∫“∑ √«¡Õ¬Ÿà„πμâπ∑ÿπ°“√º≈‘μ à«π∑’Ë‡À≈◊Õ√«¡Õ¬Ÿà„π§à“„™â®à“¬„π°“√¢“¬·≈–∫√‘À“√) 230,873,421


107

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

Consolidated financial statementsPower plant Tools and Furniture and Motor Construction

Land Power plant improvement Buildings equipment fixtures vehicles in progress TotalCost

31 December 2006 104,871,396 4,603,852,936 246,914,955 51,391,859 37,106,433 48,475,186 15,993,142 132,056,981 5,240,662,888

Acquisition - - - 68,000 5,157,598 3,016,143 3,148,380 104,085,113 115,475,234

Transfer in (out) - 7,015,958 46,705,133 262,000 - - - (53,983,091) -

Disposals - - - - - (649,645) (208,360) - (858,005)

31 December 2007 104,871,396 4,610,868,894 293,620,088 51,721,859 42,264,031 50,841,684 18,933,162 182,159,003 5,355,280,117

Accumulated

depreciation

31 December 2006 - 875,925,791 105,094,051 3,913,368 22,893,927 14,368,361 2,969,508 - 1,025,165,006

Depreciation for

the year - 155,097,263 67,513,619 2,068,357 4,373,356 9,514,946 2,803,708 - 241,371,249

Depreciation on

disposals - - - - - (628,286) (208,372) - (836,658)

31 December 2007 - 1,031,023,054 172,607,670 5,981,725 27,267,283 23,255,021 5,564,844 - 1,265,699,597

Net book value

31 December 2006 104,871,396 3,727,927,145 141,820,904 47,478,491 14,212,506 34,106,825 13,023,634 132,056,981 4,215,497,882

31 December 2007 104,871,396 3,579,845,840 121,012,418 45,740,134 14,996,748 27,586,663 13,368,318 182,159,003 4,089,580,520

Depreciation charge for the year (included in the income statement)

2006 (Baht 220 million included in manufacturing cost, and the balance in selling and administrative expenses) 230,873,421


108

ß∫°“√‡ß‘π‡©æ“–°‘®°“√

à«πª√—∫ª√ÿß ‡§√◊ËÕß¡◊Õ ‡§√◊ËÕß„™â·≈– ß“π√–À«à“ß

∑’Ë¥‘π ‚√ß‰øøÑ“ ‚√ß‰øøÑ“ Õ“§“√ ·≈–Õÿª°√≥å ‡§√◊ËÕßμ°·μàß ¬“πæ“Àπ– °àÕ √â“ß √«¡

√“§“∑ÿπ

31 ∏—π«“§¡ 2549 104,871,396 4,603,852,936 246,914,955 51,391,859 36,534,760 46,692,225 15,143,142 10,384,007 5,115,785,280

´◊ÈÕ‡æ‘Ë¡ - - - 68,000 4,783,655 2,415,606 1,473,600 64,666,177 73,407,038

‚Õπ‡¢â“ (ÕÕ°) - 7,015,958 46,705,133 262,000 - - - (53,983,091) -

®”Àπà“¬ - - - - - (649,645) (1,941,710) - (2,591,355)

31 ∏—π«“§¡ 2550 104,871,396 4,610,868,894 293,620,088 51,721,859 41,318,415 48,458,186 14,675,032 21,067,093 5,186,600,963

§à“‡ ◊ËÕ¡√“§“ – ¡

31 ∏—π«“§¡ 2549 - 875,925,791 105,094,051 3,913,368 22,888,901 14,345,792 2,968,111 - 1,025,136,014

§à“‡ ◊ËÕ¡√“§“ ”À√—∫ªï - 155,097,263 67,513,619 2,068,357 4,208,215 9,007,637 2,052,002 - 239,947,093

§à“‡ ◊ËÕ¡√“§“-®”Àπà“¬ - - - - - (628,286) (208,372) - (836,658)

31 ∏—π«“§¡ 2550 - 1,031,023,054 172,607,670 5,981,725 27,097,116 22,725,143 4,811,741 - 1,264,246,449

¡Ÿ≈§à“ ÿ∑∏‘μ“¡∫—≠™’

31 ∏—π«“§¡ 2549 104,871,396 3,727,927,145 141,820,904 47,478,491 13,645,859 32,346,433 12,175,031 10,384,007 4,090,649,266

31 ∏—π«“§¡ 2550 104,871,396 3,579,845,840 121,012,418 45,740,134 14,221,299 25,733,043 9,863,291 21,067,093 3,922,354,514

§à“‡ ◊ËÕ¡√“§“ ”À√—∫ªï



≥ «—π∑’Ë 31 ∏—π«“§¡ 2550 ∫√‘…—∑œ¡’Õÿª°√≥å®”π«πÀπ÷Ëß´÷Ëßμ—¥§à“‡ ◊ËÕ¡√“§“À¡¥·≈â«·μà¬—ß„™âß“πÕ¬Ÿà √“§“∑ÿπ¢Õß ‘π∑√—æ¬å¥—ß°≈à“«¡’®”π«π‡ß‘πª√–¡“≥ 25 ≈â“π∫“∑ (2549:

®”π«π 21 ≈â“π∫“∑)

∫√‘…—∑œ®¥®”πÕß∑’Ë¥‘π ‚√ß‰øøÑ“·≈–Õ“§“√∑—ÈßÀ¡¥¢Õß∫√‘…—∑œ ‡æ◊ËÕ§È”ª√–°—π ‘π‡™◊ËÕ∑’Ë‰¥â√—∫®“°∏π“§“√æ“≥‘™¬åμ“¡∑’Ë°≈à“«‰«â„πÀ¡“¬‡Àμÿª√–°Õ∫ß∫°“√‡ß‘π¢âÕ 9

109

(Unit: Baht)

Separate financial statementsPower plant Tools and Furniture and Motor Construction

Land Power plant improvement Buildings equipment fixtures vehicles in progress TotalCost

31 December 2006 104,871,396 4,603,852,936 246,914,955 51,391,859 36,534,760 46,692,225 15,143,142 10,384,007 5,115,785,280

Acquisition - - - 68,000 4,783,655 2,415,606 1,473,600 64,666,177 73,407,038

Transfer in (out) - 7,015,958 46,705,133 262,000 - - - (53,983,091) -

Disposals - - - - - (649,645) (1,941,710) - (2,591,355)

31 December 2007 104,871,396 4,610,868,894 293,620,088 51,721,859 41,318,415 48,458,186 14,675,032 21,067,093 5,186,600,963

Accumulated

depreciation

31 December 2006 - 875,925,791 105,094,051 3,913,368 22,888,901 14,345,792 2,968,111 - 1,025,136,014

Depreciation for

the year - 155,097,263 67,513,619 2,068,357 4,208,215 9,007,637 2,052,002 - 239,947,093

Depreciation on

disposals - - - - - (628,286) (208,372) - (836,658)

31 December 2007 - 1,031,023,054 172,607,670 5,981,725 27,097,116 22,725,143 4,811,741 - 1,264,246,449

Net book value

31 December 2006 104,871,396 3,727,927,145 141,820,904 47,478,491 13,645,859 32,346,433 12,175,031 10,384,007 4,090,649,266

31 December 2007 104,871,396 3,579,845,840 121,012,418 45,740,134 14,221,299 25,733,043 9,863,291 21,067,093 3,922,354,514

Depreciation charge for the year (included in the income statement)



As at 31 December 2007, certain plant and equipment items have been fully depreciated but are still in use. The original cost of those assets amounted

to approximately Baht 25 million (2006: Baht 21 million).

The Company has mortgaged all its land, power plants and buildings as collateral for credit facilities granted by a commercial bank as stated in Note

9 to the financial statements.

110

8. μâπ∑ÿπ°“√ª≈Ÿ°æ◊™æ≈—ßß“π∫√‘…—∑¬àÕ¬¢Õß∫√‘…—∑œ¡’μâπ∑ÿπ°“√ª≈Ÿ°æ◊™æ≈—ßß“π ÷́Ëßª√–°Õ∫¥â«¬ μâπ∑ÿπ„π°“√ª√—∫ª√ÿß∑’Ë¥‘π §à“°≈â“‰¡â ·≈–

§à“„™â®à“¬„π°“√ª≈Ÿ°´÷Ëß‡°‘¥¢÷Èπ°àÕπ∑’Ë®– “¡“√∂μ—¥æ◊™æ≈—ßß“π‰ª„™âª√–‚¬™πå‰¥â μâπ∑ÿπ¥—ß°≈à“«· ¥ß‡ªìπ ‘π∑√—æ¬å

„π√“§“∑ÿπ·≈–®–∂Ÿ°μ—¥®”Àπà“¬μ“¡®”π«πº≈º≈‘μ∑’Ë°‘®°“√®–π”‰ª„™âª√–‚¬™πå

9. ‡ß‘π°Ÿâ¬◊¡√–¬–¬“«(Àπà«¬: ∫“∑)

ß∫°“√‡ß‘π√«¡/ß∫°“√‡ß‘π‡©æ“–¢Õß∫√‘…—∑œ

‡ß‘π°Ÿâ Õ—μ√“¥Õ°‡∫’È¬ (√âÕ¬≈–) ‡ß◊ËÕπ‰¢°“√™”√–§◊π 2550 2549

1 √âÕ¬≈– 3.625 μàÕªï ”À√—∫ ™”√–§◊π‡ªìπ√“¬ß«¥∑ÿ°§√÷Ëßªï

3 ªï·√° (‡√‘Ë¡μ—Èß·μà«—π∑’Ë 30 μ—Èß·μà‡¥◊Õπ∏—π«“§¡ 2546

æƒ…¿“§¡ 2546) ”À√—∫ 4 ªï ®π∂÷ß‡¥◊Õπ¡‘∂ÿπ“¬π 2559

∂—¥¡“ MLR ≈∫√âÕ¬≈– 2 μàÕªï

·≈– MLR ≈∫√âÕ¬≈– 1.5 μàÕªï

”À√—∫ªïÀ≈—ß®“°π—Èπ 1,951,900,000 2,122,200,000

2 √âÕ¬≈– 3.625 μàÕªï ”À√—∫ ™”√–§◊π‡ªìπ√“¬ß«¥∑ÿ°§√÷Ëßªï

3 ªï·√° (‡√‘Ë¡μ—Èß·μà«—π∑’Ë 1 μ—Èß·μà‡¥◊Õπ¡‘∂ÿπ“¬π 2549

æƒ»®‘°“¬π 2547) ”À√—∫ 4 ªï ®π∂÷ß‡¥◊Õπ∏—π«“§¡ 2559

∂—¥¡“ MLR ≈∫√âÕ¬≈– 2 μàÕªï

·≈– MLR ≈∫√âÕ¬≈– 1.5 μàÕªï

”À√—∫ªïÀ≈—ß®“°π—Èπ 705,200,000 762,600,000

√«¡ 2,657,100,000 2,884,800,000

À—°: à«π∑’Ë∂÷ß°”Àπ¥™”√–¿“¬„πÀπ÷Ëßªï (249,000,000) (227,700,000)

‡ß‘π°Ÿâ¬◊¡√–¬–¬“« - ÿ∑∏‘®“° à«π∑’Ë∂÷ß°”Àπ¥™”√–¿“¬„πÀπ÷Ëßªï 2,408,100,000 2,657,100,000

—≠≠“‡ß‘π°Ÿâ¬◊¡¡’¢âÕ®”°—¥À≈“¬ª√–°“√´÷Ëß∫√‘…—∑œμâÕßªØ‘∫—μ‘μ“¡‰¥â·°à °“√¥”√ßÕ—μ√“ à«π∑“ß°“√‡ß‘π·≈–°“√®à“¬

‡ß‘πªíπº≈ ‡ªìπμâπ

‡ß‘π°Ÿâ¬◊¡¥—ß°≈à“«§È”ª√–°—π‚¥¬°“√®¥®”πÕß∑’Ë¥‘π ‚√ß‰øøÑ“ ·≈–Õ“§“√∑—ÈßÀ¡¥¢Õß∫√‘…—∑œ

10. ”√Õßμ“¡°ÆÀ¡“¬‡æ◊ËÕ„Àâ‡ªìπ‰ªμ“¡¡“μ√“ 116 ·Ààßæ√–√“™∫—≠≠—μ‘∫√‘…—∑¡À“™π®”°—¥ æ.». 2535 ∫√‘…—∑œμâÕß®—¥ √√°”‰√ ÿ∑∏‘

ª√–®”ªï à«πÀπ÷Ëß‰«â‡ªìπ∑ÿπ ”√Õß‰¡àπâÕ¬°«à“√âÕ¬≈– 5 ¢Õß°”‰√ ÿ∑∏‘ª√–®”ªïÀ—°¥â«¬¬Õ¥¢“¥∑ÿπ – ¡¬°¡“ (∂â“¡’) ®π°«à“

∑ÿπ ”√Õßπ’È®–¡’®”π«π‰¡àπâÕ¬°«à“√âÕ¬≈– 10 ¢Õß∑ÿπ®¥∑–‡∫’¬π ”√Õßμ“¡°ÆÀ¡“¬¥—ß°≈à“«‰¡à “¡“√∂π”‰ª®à“¬

‡ß‘πªíπº≈‰¥â

11. ®”π«π·≈–§à“„™â®à“¬‡°’Ë¬«°—∫æπ—°ß“πß∫°“√‡ß‘π√«¡ ß∫°“√‡ß‘π‡©æ“–°‘®°“√

2550 2549 2550 2549

®”π«πæπ—°ß“π ≥ «—π ‘Èπªï (§π) 72 49 39 37

§à“„™â®à“¬‡°’Ë¬«°—∫æπ—°ß“π ”À√—∫ªï (æ—π∫“∑) 41,145 23,791 32,896 23,655

111

8. PROJECT COST OF ENERGY PLANT FARMINGThe subsidiary of the Company incurred costs of an energy plant farming project, which comprise

costs of land improvement, seedlings, and planting, which were incurred before the energy plant can beharvested for use. Such expenditures are recognised as assets at cost and are to be amortizedaccording to the amount of produce utilised.

9. LONG-TERM LOANS (Unit: Baht)

Consolidated/Separate financial statements

Loans Interest rate (%) Repayment conditions 2007 20061 3.625% per annum for the semi-annual installments

first 3 years (from 30 May from December 2003 to2003), at MLR minus 2% per June 2016annum for the next 4 years,and afterwards at MLRminus 1.5% per annum. 1,951,900,000 2,122,200,000

2 3.625% per annum for the semi-annual installmentsfirst 3 years (from 1 from June 2006 toNovember 2004), at MLR December 2016minus 2% per annum forthe next 4 years, andafterwards at MLR minus1.5% per annum. 705,200,000 762,600,000

Total 2,657,100,000 2,884,800,000

Less: Current portion of long-term loans (249,000,000) (227,700,000)

Long-term loans - net of current portion 2,408,100,000 2,657,100,000

The loan agreement contains various covenants relating to the maintenance of financial ratios and thepayment of dividends.

The loan is secured by the mortgage of all the land, power plants and buildings of the Company.

10. STATUTORY RESERVEPursuant to Section 116 of the Public Limited Companies Act B.E. 2535, the Company is required

to set aside to a statutory reserve at least 5 percent of its net income after deducting accumulateddeficit brought forward (if any), until the reserve reaches 10 percent of the registered capital.The statutory reserve is not available for dividend distribution.

11. NUMBER OF EMPLOYEE AND RELATED COSTSConsolidated Separate


2007 2006 2007 2006

Number of employees at end of year (persons) 72 49 39 37

Employee costs for the year (Thousand Baht) 41,145 23,791 32,896 23,655

112

12. ¿“…’‡ß‘π‰¥âπ‘μ‘∫ÿ§§≈¿“…’‡ß‘π‰¥âπ‘μ‘∫ÿ§§≈ ”À√—∫ªï‰¥â§”π«≥¢÷Èπ®“°¬Õ¥°”‰√°àÕπ¿“…’¢Õß à«πß“π∑’Ë‰¡à‰¥â√—∫°“√ àß‡ √‘¡À≈—ß®“°

∫«°°≈—∫¥â«¬§à“„™â®à“¬μà“ß Ê ∑’Ë‰¡àÕπÿ≠“μ„Àâ∂◊Õ‡ªìπ√“¬®à“¬„π°“√§”π«≥¿“…’ ·≈–À—°¥â«¬º≈¢“¥∑ÿπ∑“ß¿“…’¢Õß

à«πß“π∑’Ë‰¥â√—∫°“√ àß‡ √‘¡

13. °“√ àß‡ √‘¡°“√≈ß∑ÿπ∫√‘…—∑œ‰¥â√—∫ ‘∑∏‘æ‘‡»…∑“ß¿“…’®“°§≥–°√√¡°“√ àß‡ √‘¡°“√≈ß∑ÿπ ”À√—∫°‘®°“√º≈‘μæ≈—ßß“π‰øøÑ“·≈–‰ÕπÈ”

μ“¡∫—μ√ àß‡ √‘¡°“√≈ß∑ÿπ‡≈¢∑’Ë 1697/2540 ‡≈¢∑’Ë 1403(1)/2544 ·≈–‡≈¢∑’Ë 1434(2)/2547 ¿“¬„μâ‡ß◊ËÕπ‰¢∑’Ë

°”Àπ¥∫“ßª√–°“√ ‘∑∏‘æ‘‡»…¥—ß°≈à“«√«¡∂÷ß°“√‰¥â√—∫¬°‡«âπ¿“…’‡ß‘π‰¥âπ‘μ‘∫ÿ§§≈ ”À√—∫°”‰√ ÿ∑∏‘∑’Ë‰¥â®“°°“√

ª√–°Õ∫°‘®°“√∑’Ë ‰¥â√—∫°“√ àß‡ √‘¡‡ªìπ√–¬–‡«≈“ 8 ªïπ—∫μ—Èß·μà«—π∑’Ë‡√‘Ë¡¡’√“¬‰¥â®“°°“√ª√–°Õ∫°‘®°“√π—Èπ

(«—π∑’Ë 17 ¡’π“§¡ 2542 ·≈– 19 æƒ»®‘°“¬π 2545 ·≈– 21 ‡¡…“¬π 2548 μ“¡≈”¥—∫)

‘∑∏‘æ‘‡»…¢Õß°“√¬°‡«âπ¿“…’‡ß‘π‰¥âπ‘μ‘∫ÿ§§≈¢Õß∫—μ√ àß‡ √‘¡°“√≈ß∑ÿπ‡≈¢∑’Ë 1697/2540 ‰¥â ‘Èπ ÿ¥≈ß·≈â«‡¡◊ËÕ

«—π∑’Ë 16 ¡’π“§¡ 2550

∫√‘…—∑¬àÕ¬¢Õß∫√‘…—∑œ‰¥â√—∫ ‘∑∏‘æ‘‡»…∑“ß¿“…’®“°§≥–°√√¡°“√ àß‡ √‘¡°“√≈ß∑ÿπ ”À√—∫°‘®°“√º≈‘μæ≈—ßß“π

‰øøÑ“·≈–‰ÕπÈ” μ“¡∫—μ√ àß‡ √‘¡°“√≈ß∑ÿπ‡≈¢∑’Ë 1414(9)/2550 ‡¡◊ËÕ«—π∑’Ë 23 ‡¡…“¬π 2550 ¿“¬„μâ‡ß◊ËÕπ‰¢∑’Ë°”Àπ¥

∫“ßª√–°“√ ‘∑∏‘æ‘‡»…¥—ß°≈à“«√«¡∂÷ß°“√‰¥â√—∫¬°‡«âπ¿“…’‡ß‘π‰¥âπ‘μ‘∫ÿ§§≈ ”À√—∫°”‰√ ÿ∑∏‘∑’Ë‰¥â®“°°“√ª√–°Õ∫

°‘®°“√∑’Ë‰¥â√—∫°“√ àß‡ √‘¡‡ªìπ√–¬–‡«≈“ 8 ªïπ—∫·μà«—π∑’Ë‡√‘Ë¡¡’√“¬‰¥â®“°°“√ª√–°Õ∫°‘®°“√π—Èπ ≥ «—π∑’Ë„πß∫¥ÿ≈

∫√‘…—∑¬àÕ¬¬—ß¡‘‰¥â¡’√“¬‰¥â®“°°“√ª√–°Õ∫°‘®°“√¥—ß°≈à“«

√“¬‰¥â¢Õß∫√‘…—∑œ ”À√—∫ªï®”·π°μ“¡°‘®°“√∑’Ë‰¥â√—∫°“√ àß‡ √‘¡°“√≈ß∑ÿπ·≈–‰¡à‰¥â√—∫°“√ àß‡ √‘¡°“√≈ß∑ÿπ

“¡“√∂ √ÿª‰¥â¥—ßμàÕ‰ªπ’È

(Àπà«¬: æ—π∫“∑)

°‘®°“√∑’Ë‰¥â√—∫°“√ àß‡ √‘¡ °‘®°“√∑’Ë‰¡à‰¥â√—∫°“√ àß‡ √‘¡ √«¡

2550 2549 2550 2549 2550 2549

√“¬‰¥â®“°°“√¢“¬ 1,461,733 2,812,044 1,344,505 - 2,806,238 2,812,044

14. °”‰√μàÕÀÿâπ°”‰√μàÕÀÿâπ¢—Èπæ◊Èπ∞“π§”π«≥‚¥¬À“√°”‰√ ÿ∑∏‘ ”À√—∫ªï¥â«¬®”π«π∂—«‡©≈’Ë¬∂à«ßπÈ”Àπ—°¢ÕßÀÿâπ “¡—≠∑’ËÕÕ°Õ¬Ÿà

„π√–À«à“ßªï

15. ¢âÕ¡Ÿ≈∑“ß°“√‡ß‘π®”·π°μ“¡ à«πß“π∫√‘…—∑œ ¥”‡π‘π°‘®°“√„π à«πß“π∑“ß∏ÿ√°‘®‡¥’¬«§◊Õ º≈‘μ·≈–®”Àπà“¬æ≈—ßß“π‰øøÑ“·≈–‰ÕπÈ” ´÷Ëß¥”‡π‘π∏ÿ√°‘®

„π à«πß“π∑“ß¿Ÿ¡‘»“ μ√å‡¥’¬«§◊Õª√–‡∑»‰∑¬ ¥—ßπ—Èπ √“¬‰¥â °”‰√ ·≈– ‘π∑√—æ¬å∑—ÈßÀ¡¥∑’Ë· ¥ß„πß∫°“√‡ß‘π®÷ß

‡°’Ë¬«¢âÕß°—∫ à«πß“π∏ÿ√°‘®·≈– à«πß“π∑“ß¿Ÿ¡‘»“ μ√å‡¥’¬«μ“¡∑’Ë°≈à“«‰«â¢â“ßμâπ

16. °Õß∑ÿπ ”√Õß‡≈’È¬ß™’æ∫√‘…—∑œ·≈–æπ—°ß“π∫√‘…—∑œ‰¥â√à«¡°—π®—¥μ—Èß°Õß∑ÿπ ”√Õß‡≈’È¬ß™’æ¢÷Èπμ“¡æ√–√“™∫—≠≠—μ‘°Õß∑ÿπ ”√Õß‡≈’È¬ß™’æ

æ.». 2530 ‚¥¬∫√‘…—∑œ·≈–æπ—°ß“π®–®à“¬ ¡∑∫‡¢â“°Õß∑ÿπ‡ªìπ√“¬‡¥◊Õπ„πÕ—μ√“√âÕ¬≈– 3 ¢Õß‡ß‘π‡¥◊Õπ °Õß∑ÿπ

”√Õß‡≈’È¬ß™’æπ’È∫√‘À“√‚¥¬∏π“§“√‰∑¬∏π“§“√ ®”°—¥ (¡À“™π) ·≈–®–®à“¬„Àâ·°àæπ—°ß“π‡¡◊ËÕæπ—°ß“ππ—ÈπÕÕ°®“°

ß“πμ“¡√–‡∫’¬∫«à“¥â«¬°Õß∑ÿπ¢Õß∫√‘…—∑œ „π√–À«à“ßªï 2550 ∫√‘…—∑œ·≈–∫√‘…—∑¬àÕ¬‰¥â®à“¬‡ß‘π ¡∑∫°Õß∑ÿπ‡ªìπ

®”π«π‡ß‘π 779,289 ∫“∑ (2549: 321,117 ∫“∑)

113

12. CORPORATE INCOME TAXCorporate income tax for the year is calculated on the net income from operations not granted BOIpromotional privileges, after adding back certain expenses which are disallowable for tax computationpurposes, and deducting tax losses from the operations with BOI promotional privileges.

13. PROMOTIONAL PRIVILEGESThe Company has received promotional privileges from the Board of Investment for the productionof electricity and steam, pursuant to the promotion certificate No. 1697/2540, 1403(1)/2544 and1434(2)/2547. Subject to certain imposed condition, the privileges include an exemption from corporateincome tax for a period of 8 years from the date the promoted activity commenced generating revenues(17 March 1999, 19 November 2002 and 21 April 2005, respectively).

The corporate income tax privileges of the certificate No.1697/2540 was expired on 16 March 2007.

Its subsidiary has received promotional privileges from the Board of Investment for the production ofelectricity and steam, pursuant to the promotion certificate No. 1414(9)/2550 issued on 23 April 2007.Subject to certain imposed condition, the privileges include an exemption from corporate incometax for a period of 8 years from the date the promoted activity commenced generating revenues.As at the balance sheet date, the subsidiary has not generated revenues from the promoted activity.

Revenues of the Company for the years are below divided between BOI promoted activities andnon-BOI promoted activities.

(Unit: Thousand Baht)

BOI promoted Non-BOI promoted Total

2007 2006 2007 2006 2007 2006

Sales 1,461,733 2,812,044 1,344,505 - 2,806,238 2,812,044

14. EARNINGS PER SHAREBasic earnings per share is calculated by dividing net income for the year by the weighted averagenumber of ordinary shares in issue during the year.

15. FINANCIAL INFORMATION BY SEGMENTThe Companyûs operations involve a single business segment in manufacturing and distributing ofelectricity and steam and are carried on in the single geographic area of Thailand. As a result, all ofthe revenues, operating profits and assets reflected in these financial statements pertain to theaforementioned business segment and geographic area.

16. PROVIDENT FUNDThe Company and its employees have jointly established a provident fund in accordance with theProvident Fund Act B.E. 2530. Both employees and the Company contributed to the fund monthly at therate of 3 percent of basic salary. The fund, which is managed by BankThai Public Company Limited, willbe paid to employees upon termination in accordance with the fund rules. During the year 2007,the Company and its subsidiary contributed Baht 779,289 (2006: Baht 321,117) to the fund.

114

17. ‡ß‘πªíπº≈®à“¬

Õπÿ¡—μ‘‚¥¬ √«¡‡ß‘πªíπº≈ ‡ß‘πªíπº≈μàÕÀÿâπ

≈â“π∫“∑ ∫“∑

‡ß‘πªíπº≈ª√–®”ªï 2549 ∑’Ëª√–™ÿ¡„À≠à “¡—≠ºŸâ∂◊ÕÀÿâπ‡¡◊ËÕ

«—π∑’Ë 6 ¡’π“§¡ 2550 286.50 0.30

√«¡‡ß‘πªíπº≈®à“¬„πªï 2550 286.50 0.30

‡ß‘πªíπº≈ª√–®”ªï 2548 ∑’Ëª√–™ÿ¡„À≠à “¡—≠ºŸâ∂◊ÕÀÿâπ‡¡◊ËÕ

«—π∑’Ë 29 ¡’π“§¡ 2549 191.00 0.20

√«¡‡ß‘πªíπº≈®à“¬„πªï 2549 191.00 0.20

18. ¿“√–ºŸ°æ—π18.1 —≠≠“¢“¬‰øøÑ“

‡¡◊ËÕ«—π∑’Ë 19 ∏—π«“§¡ 2540 ∫√‘…—∑œ‰¥â∑” —≠≠“¢“¬‰øøÑ“°—∫°“√‰øøÑ“ΩÉ“¬º≈‘μ·Ààßª√–‡∑»‰∑¬ (°øº.)

μ“¡®”π«π·≈–√“§“∑’Ë°”Àπ¥‰«â„π —≠≠“ —≠≠“¥—ß°≈à“«¡’√–¬–‡«≈“ 25 ªï ·≈–®– ‘Èπ ÿ¥ —≠≠“„π‡¥◊Õπ‡¡…“¬π

2567

18.2 —≠≠“¢“¬‰øøÑ“·≈–‰ÕπÈ”

„πªï 2540 ∫√‘…—∑œ‰¥â∑” —≠≠“¢“¬°√–· ‰øøÑ“·≈–æ≈—ßß“π‰ÕπÈ”°—∫∫√‘…—∑ Àæ—≤π“ Õ‘π‡μÕ√å‚Œ≈¥‘Èß ®”°—¥

(¡À“™π) μ“¡®”π«π·≈–√“§“∑’Ë°”Àπ¥‰«â„π —≠≠“ —≠≠“¥—ß°≈à“«¡’√–¬–‡«≈“ 15 ªï ·≈–®– ‘Èπ ÿ¥ —≠≠“

„π‡¥◊Õπ¡’π“§¡ 2557

18.3 —≠≠“ ◊́ÈÕ°ä“´∏√√¡™“μ‘

∫√‘…—∑œ¡’¿“√–ºŸ°æ—πμ“¡ —≠≠“´◊ÈÕ°ä“´∏√√¡™“μ‘°—∫∫√‘…—∑ ªμ∑. ®”°—¥ (¡À“™π) μ“¡®”π«π·≈–√“§“

∑’Ë°”Àπ¥‰«â„π —≠≠“‡ªìπ√–¬–‡«≈“ 21 ªï ·≈–®– ‘Èπ ÿ¥ —≠≠“„π‡¥◊Õπ¡’π“§¡ 2563 ‚¥¬ “¡“√∂μàÕÕ“¬ÿ —≠≠“

‰¥âÕ’° 4 ªï

18.4 —≠≠“√—∫∫√‘°“√¥â“π°“√®—¥°“√‡°’Ë¬«°—∫°“√¥”‡π‘πß“π·≈–´àÕ¡∫”√ÿß

„πªï 2549 ∫√‘…—∑œ‰¥â∑” —≠≠“°—∫∫√‘…—∑ ÕÕªÕ‡√™—ËππÕ≈ ‡ÕÁπ‡πÕ√å¬’Ë °√ÿäª ®”°—¥ ‡æ◊ËÕ√—∫∫√‘°“√¥â“π°“√

®—¥°“√·≈–√—∫§”·π–π”‡°’Ë¬«°—∫°“√¥”‡π‘πß“π·≈–´àÕ¡∫”√ÿß‚√ß‰øøÑ“ ‚¥¬§à“∫√‘°“√‡ªìπ‰ªμ“¡√“§“∑’Ë°”Àπ¥

‰«â„π —≠≠“ —≠≠“¥—ß°≈à“«¡’°”Àπ¥ ‘Èπ ÿ¥«—π∑’Ë 31 ∏—π«“§¡ 2554

18.5 —≠≠“´◊ÈÕ¢“¬πÈ”¥‘∫

∫√‘…—∑œ ¡’¿“√–ºŸ°æ—πμ“¡ —≠≠“ ◊́ÈÕπÈ”¥‘∫°—∫∫√‘…—∑·ÀàßÀπ÷Ëß ‡æ◊ËÕ´◊ÈÕπÈ”¥‘∫μ“¡®”π«π·≈–√“§“∑’Ë°”Àπ¥

‰«â„π —≠≠“‡ªìπ√–¬–‡«≈“ 25 ªï ·≈–®– ‘Èπ ÿ¥ —≠≠“„π‡¥◊Õπ¡’π“§¡ 2567

18.6 —≠≠“‡™à“∑’Ë¥‘π

∫√‘…—∑œ‰¥â∑” —≠≠“‡™à“∑’Ë¥‘π®”π«π 4,800 μ“√“ß‡¡μ√°—∫∫√‘…—∑ ‘π¿√“¥√ ®”°—¥ ‚¥¬®à“¬§à“‡™à“‡¥◊Õπ≈–

144,000 ∫“∑ ‡ªìπ√–¬–‡«≈“ 3 ªï ‡√‘Ë¡μ—Èß·μà«—π∑’Ë 1 ¡‘∂ÿπ“¬π 2548

∫√‘…—∑¬àÕ¬‰¥â∑” —≠≠“‡™à“∑’Ë¥‘π®”π«π 27.55 ‰√à °—∫∫√‘…—∑ Àæ—≤π“Õ‘π‡μÕ√å ‚Œ≈¥‘Èß ®”°—¥ (¡À“™π) ‚¥¬

®à“¬§à“‡™à“‡¥◊Õπ≈– 434,192 ∫“∑ ‡ªìπ√–¬–‡«≈“ 13 ªï μ—Èß·μà«—π∑’Ë 1 ‡¡…“¬π 2550 ∂÷ß«—π∑’Ë 31 ¡’π“§¡ 2563

Õ¬à“ß‰√°Áμ“¡ ∫√‘…—∑¬àÕ¬‰¥â¢Õ¬°‡«âπ§à“‡™à“¥—ß°≈à“«®“°∫√‘…—∑ Àæ—≤π“Õ‘π‡μÕ√å ‚Œ≈¥‘Èß ®”°—¥ (¡À“™π) μ—Èß·μà

‡¥◊Õπμÿ≈“§¡ 2550 ‡ªìπμâπ‰ª

115

17. DIVIDEND PAIDApproved by Total dividends Dividend per share

Million Baht Baht

Final dividends for 2006 Annual General Meeting of the

shareholders on 6 March 2007 286.50 0.30

Total dividend paid in 2007 286.50 0.30

Final dividends for 2005 Annual General Meeting of the

shareholders on 29 March 2006 191.00 0.20°

Total dividend paid in 2006 191.00 0.20

18. COMMITMENTS18.1 Electricity Sales Agreement

On 19 December 1997 the Company entered into an agreement with the Electricity GeneratingAuthority of Thailand (EGAT) to sell electricity in a specified quantity and at a stipulated price asdefined in the agreement. The agreement period is 25 years and will expire in April 2024.

18.2 Electricity and Steam Sales AgreementsIn 1997, the Company entered into agreements with Saha Pathana Inter-Holding PublicCompany Limited to sell electricity and steam in a specified quantity and at a stipulated price asdefined in the agreements. The agreements period is 15 years and will expire in March 2014.

18.3 Gas Purchase AgreementUnder an agreement with the PTT Public Company Limited (çPTTé), the Company iscommitted to purchase natural gas from PTT in a specified quantity and at a stipulated price asdefined in the agreement for a period of 21 years. The agreement will expire in March 2020,however it contains an option to renew for an additional period of 4 years.

18.4 Operation and Service Management AgreementIn 2006, the Company entered into an agreement with Operational Energy Group Limited underwhich the affiliate will provide management and advisory services for the operation andmaintenance of the power plant, which the Company is committed to pay for at prices asdetermined in the agreement. The agreement expired on 31 December 2011.

18.5 Raw Water Purchase AgreementUnder an agreement with a private entity, the Company is committed to purchase raw water in aspecified quantity and at a stipulated price as defined in the agreement for a period of 25 years. Theagreement will expire in March 2024.

18.6 Land Rental AgreementThe Company entered into a land rental agreement with Sinparadorn Company Limited to rent4,800 square meters of land for 3 years, which was effective from 1 June 2005, at a monthly rentalrate of Baht 144,000.

The subsidiary entered into a land rental agreement with Saha Pathana Inter-Holding PublicCompany Limited to rent 27.55 rais of land for 13 years, which was effective from 1 April 2007 to31 March 2020 at a monthly rental rate of Baht 434,192. However, the Company requested SahaPathana Inter-Holding Public Company Limited to waive the rental fee since October 2007.

116

18.7 —≠≠“‡™à“‡§√◊ËÕß®—°√

∫√‘…—∑œ‰¥â∑” —≠≠“‡™à“‡§√◊ËÕß®—°√°—∫∫√‘…—∑ ÕÕªÕ‡√™—ËππÕ≈ ‡ÕÁπ‡πÕ√å¬’Ë °√ÿäª ®”°—¥ ‡æ◊ËÕ‡ªìπ‡§√◊ËÕß ”√Õß

„π°√≥’∑’Ë‡§√◊ËÕß®—°√¢Õß∫√‘…—∑œ„™âß“π‰¡à‰¥âμ“¡ª°μ‘ ‚¥¬§à“‡™à“‡ªìπ‰ªμ“¡√“§“∑’Ë°”Àπ¥‰«â„π —≠≠“ —≠≠“¥—ß°≈à“«

¡’°”Àπ¥ ‘Èπ ÿ¥ ≥ «—π∑’Ë 30 ¡‘∂ÿπ“¬π 2559

18.8 Àπ—ß ◊Õ§È”ª√–°—π∏π“§“√

≥ «—π∑’Ë 31 ∏—π«“§¡ 2550 ¡’Àπ—ß ◊Õ§È”ª√–°—π∑’ËÕÕ°‚¥¬∏π“§“√„ππ“¡¢Õß∫√‘…—∑œ ‡æ◊ËÕª√–°—π°“√

ªØ‘∫—μ‘μ“¡‡ß◊ËÕπ‰¢„π —≠≠“´◊ÈÕ¢“¬‰øøÑ“°—∫°“√‰øøÑ“ΩÉ“¬º≈‘μ·Ààßª√–‡∑»‰∑¬ (°øº.) ‡ªìπ®”π«π‡ß‘πª√–¡“≥ 163

≈â“π∫“∑ (2549: ®”π«π 163 ≈â“π∫“∑) ·≈–¡’Àπ—ß ◊Õ§È”ª√–°—π∑’ËÕÕ°‚¥¬∏π“§“√„ππ“¡¢Õß∫√‘…—∑œ·≈–

∫√‘…—∑¬àÕ¬‡æ◊ËÕ°“√§È”ª√–°—πÕ◊Ëπ‡ªìπ®”π«π 17 ≈â“π∫“∑ (2549: ®”π«π 16 ≈â“π∫“∑)

18.9 √“¬®à“¬ΩÉ“¬∑ÿπ

≥ «—π∑’Ë 31 ∏—π«“§¡ 2550 ∫√‘…—∑œ·≈–∫√‘…—∑¬àÕ¬¡’¿“√–ºŸ°æ—π‡°’Ë¬«°—∫°“√´◊ÈÕ·≈–μ‘¥μ—Èß‡§√◊ËÕß®—°√

®”π«π‡ß‘πª√–¡“≥ 19 ≈â“π∫“∑ (2549: ®”π«π 44 ≈â“π∫“∑)

19. ‡§√◊ËÕß¡◊Õ∑“ß°“√‡ß‘π19.1 π‚¬∫“¬°“√∫√‘À“√§«“¡‡ ’Ë¬ß

‡§√◊ËÕß¡◊Õ∑“ß°“√‡ß‘π∑’Ë ”§—≠¢Õß∫√‘…—∑œ μ“¡∑’Ëπ‘¬“¡Õ¬Ÿà„π¡“μ√∞“π°“√∫—≠™’©∫—∫∑’Ë 48 ç°“√· ¥ß

√“¬°“√·≈–°“√‡ªî¥‡º¬¢âÕ¡Ÿ≈ ”À√—∫‡§√◊ËÕß¡◊Õ∑“ß°“√‡ß‘πé ª√–°Õ∫¥â«¬ ‡ß‘π ¥·≈–√“¬°“√‡∑’¬∫‡∑à“‡ß‘π ¥

‡ß‘π≈ß∑ÿπ√–¬– —Èπ ≈Ÿ°Àπ’È°“√§â“ ·≈–‡ß‘π°Ÿâ¬◊¡√–¬–¬“« ∫√‘…—∑œ¡’§«“¡‡ ’Ë¬ß∑’Ë‡°’Ë¬«¢âÕß°—∫‡§√◊ËÕß¡◊Õ∑“ß°“√‡ß‘π

¥—ß°≈à“« ·≈–¡’π‚¬∫“¬°“√∫√‘À“√§«“¡‡ ’Ë¬ß¥—ßπ’È

§«“¡‡ ’Ë¬ß¥â“π°“√„Àâ ‘π‡™◊ËÕ

∫√‘…—∑œ¡’§«“¡‡ ’Ë¬ß¥â“π°“√„Àâ ‘π‡™◊ËÕ∑’Ë‡°’Ë¬«‡π◊ËÕß°—∫≈Ÿ°Àπ’È°“√§â“´÷Ëß à«π„À≠à‡°‘¥®“°°“√¢“¬„Àâ°—∫≈Ÿ°§â“

®”π«ππâÕ¬√“¬ Õ¬à“ß‰√°Áμ“¡ ∫√‘…—∑œ ‰¡à§“¥«à“®–‰¥â√—∫§«“¡‡ ’¬À“¬∑’Ë‡ªìπ “√– ”§—≠®“°°“√‡°Á∫Àπ’È®“°≈Ÿ°Àπ’È

‡À≈à“π—Èπ ‡π◊ËÕß®“°≈Ÿ°Àπ’È¡’§«“¡ “¡“√∂„π°“√™”√–Àπ’È¥’

§«“¡‡ ’Ë¬ß®“°Õ—μ√“¥Õ°‡∫’È¬

∫√‘…—∑œ ¡’§«“¡‡ ’Ë¬ß®“°Õ—μ√“¥Õ°‡∫’È¬∑’Ë ”§—≠Õ—π‡°’Ë¬«‡π◊ËÕß°—∫‡ß‘πΩ“° ∂“∫—π°“√‡ß‘π·≈–‡ß‘π°Ÿâ¬◊¡√–¬–¬“«

∑’Ë¡’¥Õ°‡∫’È¬ Õ¬à“ß‰√°Áμ“¡ ‡π◊ËÕß®“° ‘π∑√—æ¬å·≈–Àπ’È ‘π∑“ß°“√‡ß‘π à«π„À≠à¡’Õ—μ√“¥Õ°‡∫’È¬∑’Ëª√—∫¢÷Èπ≈ßμ“¡

Õ—μ√“μ≈“¥ À√◊Õ¡’Õ—μ√“¥Õ°‡∫’È¬§ß∑’Ë´÷Ëß„°≈â‡§’¬ß°—∫Õ—μ√“μ≈“¥„πªí®®ÿ∫—π ∫√‘…—∑œ®÷ß¡‘‰¥â„™âμ√“ “√Õπÿæ—π∏å

‡æ◊ËÕ∫√‘À“√§«“¡‡ ’Ë¬ß®“°Õ—μ√“¥Õ°‡∫’È¬¥—ß°≈à“« √“¬≈–‡Õ’¬¥¢Õß‡ß‘π°Ÿâ¬◊¡√–¬–¬“«· ¥ß‰«â„πÀ¡“¬‡Àμÿª√–°Õ∫

ß∫°“√‡ß‘π¢âÕ 9

§«“¡‡ ’Ë¬ß®“°Õ—μ√“·≈°‡ª≈’Ë¬π

∫√‘…—∑œ ¡’§«“¡‡ ’Ë¬ß®“°Õ—μ√“·≈°‡ª≈’Ë¬π‡ß‘πμ√“μà“ßª√–‡∑»„π√–¥—∫μË” ‡π◊ËÕß®“°√“¬°“√∑“ß∏ÿ√°‘®‚¥¬

à«π„À≠à‡ªìπ °ÿ≈‡ß‘π∫“∑

19.2 ¡Ÿ≈§à“¬ÿμ‘∏√√¡¢Õß‡§√◊ËÕß¡◊Õ∑“ß°“√‡ß‘π

‡π◊ËÕß®“° ‘π∑√—æ¬å·≈–Àπ’È ‘π∑“ß°“√‡ß‘π à«π„À≠à¢Õß∫√‘…—∑œ®—¥Õ¬Ÿà„πª√–‡¿∑√–¬– —Èπ ·≈–‡ß‘π°Ÿâ¬◊¡

¡’Õ—μ√“¥Õ°‡∫’È¬„°≈â‡§’¬ß°—∫Õ—μ√“¥Õ°‡∫’È¬„πμ≈“¥ ∫√‘…—∑œ®÷ßª√–¡“≥¡Ÿ≈§à“¬ÿμ‘∏√√¡¢Õß ‘π∑√—æ¬å·≈–Àπ’È ‘π

∑“ß°“√‡ß‘π„°≈â‡§’¬ß°—∫¡Ÿ≈§à“μ“¡∫—≠™’∑’Ë· ¥ß„πß∫¥ÿ≈

117

18.7 Machinery Lease AgreementThe Company entered into a machinery lease agreement with Operational Energy Group Limitedunder which the affiliate will provide replacement machinery if the Companyûs machinery istemporarily out-of-order. Rental is charged at the rates stipulated in the agreement, which expireson 30 June 2016.

18.8 Bank guaranteesAs at 31 December 2007, there were outstanding bank guarantee of approximately Baht 163million (2006: Baht 163 million) issued by a bank on behalf of the Company in respect of certainperformance bonds as required under the Power Sales Agreement with the Electricity GeneratingAuthority of Thailand (EGAT). There were also other guarantees issued by a bank on behalf of theCompany and its subsidiary totaling Baht 17 million (2006: Baht 16 million).

18.9 Capital commitmentsAs at 31 December 2007, the Company and its subsidiary had outstanding capitalcommitments in respect of purchase and installation of machineries of approximately Baht 19million (2006: Baht 44 million).

19. FINANCIAL INSTRUMENTS19.1 Financial risk management

The Companyûs financial instruments, as defined under Thai Accounting Standard No. 48 çFinancialInstruments: Disclosure and Presentationsé, principal ly comprise cash and cashequivalents, current investments, trade accounts receivable and long-term loans. The financial risksassociated with these financial instruments and how they are managed is described below.

Credit riskThe Company is exposed to credit risk primarily with respect to trade accounts receivable since themajority of sales are supplied to a limited number of customers. However, due to those customersûcreditwor thiness, the Company does not anticipate material losses from its debtcollection.

Interest rate riskThe Companyûs exposure to interest rate risk relates primarily to its cash at financialinstitutions and long-term borrowings which are subject to interest. However, because most of thefinancial assets and financial liabilities have floating interest rates which fluctuate in line with marketinterest rates or fixed interest rates which approximate the current market interest rate, theCompany does not use derivatives to manage its interest rate risk. Details of long-term loans fromfinancial institutions are set out in Notes to the financial statements No.9.

Foreign currency riskThe Companyûs exposure to foreign currency risk is limited since nearly all business transactionsare denominated in Thai Baht.

19.2 Fair values of financial instrumentsSince the majority of the Companyûs financial instruments are short-term in nature or bear floatinginterest rates, their fair value is not expected to be materially different from the amounts presentedin the balance sheets.

118

¡Ÿ≈§à“¬ÿμ‘∏√√¡ À¡“¬∂÷ß ®”π«π‡ß‘π∑’ËºŸâ´◊ÈÕ·≈–ºŸâ¢“¬μ°≈ß·≈°‡ª≈’Ë¬π ‘π∑√—æ¬å°—π„π¢≥–∑’Ë∑—Èß ÕßΩÉ“¬¡’§«“¡

√Õ∫√Ÿâ ·≈–‡μÁ¡„®„π°“√·≈°‡ª≈’Ë¬π·≈– “¡“√∂μàÕ√Õß√“§“°—π‰¥âÕ¬à“ß‡ªìπÕ‘ √–„π≈—°…≥–∑’Ë‰¡à¡’§«“¡‡°’Ë¬«¢âÕß°—π

«‘∏’°“√°”Àπ¥¡Ÿ≈§à“¬ÿμ‘∏√√¡¢÷ÈπÕ¬Ÿà°—∫≈—°…≥–¢Õß‡§√◊ËÕß¡◊Õ∑“ß°“√‡ß‘π ¡Ÿ≈§à“¬ÿμ‘∏√√¡®–°”Àπ¥®“°√“§“μ≈“¥≈à“ ÿ¥

À√◊Õ°”Àπ¥¢÷Èπ‚¥¬„™â‡°≥±å°“√«—¥¡Ÿ≈§à“∑’Ë‡À¡“– ¡

20. ‡Àμÿ°“√≥å¿“¬À≈—ß«—π∑’Ë„πß∫°“√‡ß‘π‡¡◊ËÕ«—π∑’Ë 19 °ÿ¡¿“æ—π∏å 2551 ∑’Ëª√–™ÿ¡§≥–°√√¡°“√∫√‘…—∑œ‰¥â¡’¡μ‘‡ÀÁπ™Õ∫„Àâ‡ πÕ°“√®à“¬‡ß‘πªíπº≈„πÕ—μ√“

Àÿâπ≈– 0.30 ∫“∑ √«¡‡ß‘πªíπº≈∑—Èß ‘Èπ 286.50 ≈â“π∫“∑ „Àâ∑’Ëª√–™ÿ¡ “¡—≠ºŸâ∂◊ÕÀÿâπª√–®”ªï 2551 æ‘®“√≥“Õπÿ¡—μ‘

μàÕ‰ª (‡ß‘πªíπº≈π’È®–∫—π∑÷°∫—≠™’„π‰μ√¡“ ∑’ËÀπ÷Ëß¢Õßªï 2551)

21. °“√Õπÿ¡—μ‘ß∫°“√‡ß‘πß∫°“√‡ß‘ππ’È ‰¥â√—∫Õπÿ¡—μ‘„ÀâÕÕ°‚¥¬§≥–°√√¡°“√∫√‘…—∑œ‡¡◊ËÕ«—π∑’Ë 19 °ÿ¡¿“æ—π∏å 2551

119

A fair value is the amount for which an asset can be exchanged or a liability settled betweenknowledgeable, willing parties in an armûs length transaction. The fair value is determined by referenceto the market price of the financial instrument or by using an appropriate valuation technique, dependingon the nature of the instrument.

20. SUBSEQUENT EVENTSOn 19 February 2008, the Companyûs Board of Directors meeting passed a resolution to propose,the dividend payment of Baht 0.30 per share, totaling Baht 286.50 million, to the Annual General Meetingof the Shareholders of 2008 for approval (the dividends will be recorded in the accounts in the firstquarter of 2008).

21. APPROVAL OF FINANCIAL STATEMENTSThese financial statements were authorised for issue by the Companyûs Board of Directors on 19February 2008.

120

§à“μÕ∫·∑π¢ÕßºŸâ Õ∫∫—≠™’

1. §à“μÕ∫·∑π®“°°“√ Õ∫∫—≠™’ (Audit Fee)∫√‘…—∑·≈–∫√‘…—∑¬àÕ¬®à“¬§à“μÕ∫·∑π°“√ Õ∫∫—≠™’„Àâ·°à

ë ºŸâ Õ∫∫—≠™’¢Õß∫√‘…—∑„π√Õ∫ªï∫—≠™’∑’Ëºà“π¡“ ¡’®”π«π‡ß‘π√«¡ 0.00 ∫“∑

ë ∫√‘…—∑ ”π—°ß“π‡Õ‘π å∑ ·Õπ∑å ¬—ß ®”°—¥ ÷́Ëß‡ªìπ ”π—°ß“πºŸâ Õ∫∫—≠™’∑’ËºŸâ Õ∫∫—≠™’ —ß°—¥ ∫ÿ§§≈À√◊Õ°‘®°“√

∑’Ë‡°’Ë¬«°—∫ºŸâ Õ∫∫—≠™’ ·≈– ”π—°ß“π Õ∫∫—≠™’∑’ËºŸâ Õ∫∫—≠™’ —ß°—¥ „π√Õ∫ªï∫—≠™’∑’Ëºà“π¡“ ¡’®”π«π‡ß‘π√«¡

1,050,000.-∫“∑

2. §à“∫√‘°“√Õ◊Ëπ (Non-audit Fee)∫√‘…—∑·≈–∫√‘…—∑¬àÕ¬®à“¬§à“μÕ∫·∑π¢Õßß“π∫√‘°“√Õ◊ËπÊ ‰¥â·°à °“√μ√«® Õ∫°“√ªØ‘∫—μ‘μ“¡‡ß◊ËÕπ‰¢¢Õß∫—μ√ àß‡ √‘¡

°“√≈ß∑ÿπ

ë ºŸâ Õ∫∫—≠™’¢Õß∫√‘…—∑„π√Õ∫ªï∫—≠™’∑’Ëºà“π¡“¡’®”π«π‡ß‘π√«¡ 0.00 ∫“∑ ·≈–μâÕß®à“¬„πÕπ“§μÕ—π‡°‘¥®“°°“√μ°≈ß

∑’Ë¬—ß„Àâ∫√‘°“√‰¡à·≈â«‡ √Á® „π√Õ∫ªï∫—≠™’∑’Ëºà“π¡“ ¡’®”π«π‡ß‘π√«¡ 0.00 ∫“∑

ë ∫√‘…—∑ ”π—°ß“π‡Õ‘π å∑ ·Õπ∑å ¬—ß ®”°—¥ ÷́Ëß‡ªìπ ”π—°ß“π Õ∫∫—≠™’∑’ËºŸâ Õ∫∫—≠™’ —ß°—¥ ∫ÿ§§≈À√◊Õ°‘®°“√∑’Ë

‡°’Ë¬«°—∫ºŸâ Õ∫∫—≠™’·≈– ”π—°ß“π Õ∫∫—≠™’¥—ß°≈à“« „π√Õ∫ªï∑’Ëºà“π¡“¡’®”π«π‡ß‘π√«¡ 100,000.- ∫“∑ ·≈–

®–μâÕß®à“¬„πÕπ“§μÕ—π‡°‘¥®“°°“√μ°≈ß∑’Ë¬—ß„Àâ∫√‘°“√‰¡à·≈â«‡ √Á® „π√Õ∫ªï∫—≠™’∑’Ë·≈â«‡ √Á®∑’Ëºà“π¡“¡’®”π«π

‡ß‘π√«¡ 0.00 ∫“∑

121

Auditor Fees of the Auditor

1. Audit FeeThe company and its subsidiary paid for the auditor fee as following:

ë The auditor fee for the previous accounting period, a total amount of 0.00 Baht

ë Ernst & Young Office Limited, the companyûs audit firm to which the auditor is affiliated, persons or

businesses associated to the auditor and audit firm to which the auditor is affiliated in the 2007

accounting period, a total amount of 1,050,000.- Baht

2. Non-audit FeeThe company and its subsidiary paid for other services namely inspections in compliance with the term

stipulated by the Board of Investment of Thailand detailed ass following:

ë The auditor fee for the previous accounting year, a total amount of 0.00 Baht and as for the amount

payable in the future for services that had not yet been completed in the previous accounting

period, a total amount of 0.00 Baht

ë Ernst & Young Office Limited, the companyûs audit firm to which the auditor is affiliated, persons

or businesses associated to the auditor and audit firm to which the auditor is affiliated in the

2007 accounting period, a total amount of 100,000.- Baht, and as for the amount payable in the

future for services that had not been completed in the previous accounting period, a total

amount of 0.00 Baht.

122

§≥–°√√¡°“√

æ≈‡√◊Õ‡Õ° Õπÿ™‘μ ‡¿°–π—π∑πå

ª√–∏“π°√√¡°“√

Admiral Anuchit Bekanan

Chairman

π“¬«‘‚√®πå ∏’√«—≤πå«“∑’

°√√¡°“√ºŸâ®—¥°“√

Mr. Viroj Theeravatvatee

Managing Director

π“¬∫ÿ≥¬ ‘∑∏‘Ï ‚™§«—≤π“

°√√¡°“√

Mr. Boonsithi Chokwatana

Director

π“¬∫ÿ≠‡°’¬√μ‘ ‚™§«—≤π“

°√√¡°“√

Mr. Boonkiet Chokwatana

Director

π“¬∏’√–»—°¥‘Ï «‘°‘μ‡»√…∞å

°√√¡°“√

Mr. Thirasak Vikitset

Director

π“¬Õ—μ∂°√ °≈—Ëπ§«“¡¥’

°√√¡°“√

Mr. Atthakorn Glankwamdee

Director

π“¬ —πμ‘ «‘≈“ »—°¥“ππ∑å

°√√¡°“√

Mr. Santi Vilassakdanont

Director

122

123

π“¬∑πß »√’®‘μ√å

°√√¡°“√

Mr. Tanong Srichit

Director

π“¬πææ√ æß…å‡«™

°√√¡°“√Õ‘ √–·≈–ª√–∏“π

°√√¡°“√μ√«® Õ∫

Mr. Nophorn Bhongsvej

Independent Director &

Chairman of the Audit Committee

æ≈μ”√«®‡Õ° ¡™“¬ ª√–¿— ¿—°¥’

°√√¡°“√Õ‘ √–·≈–

°√√¡°“√μ√«® Õ∫

Pol. Gen. Somchai

Prabhasabhakdi


Audit Committee

123

π“¬ ÿ√ß§å Õß§å ‚¶…‘μ

°√√¡°“√Õ‘ √–·≈–

°√√¡°“√μ√ ® Õ∫

Mr. Surong Ongkosit


Audit Committee

π“¬Õ¡√ Õ—»«“π—π∑å

°√√¡°“√Õ‘ √–·≈–

°√√¡°“√μ√«® Õ∫

Mr. Amorn Asvanunt


Audit Committee

π“¬∫ÿ≠ƒ∑∏‘Ï ¡À“¡πμ√’

°√√¡°“√

Mr. Boonyarith Mahamontri

Director

The Board of Director

124

ª√–«—μ‘§≥–°√√¡°“√

æ≈‡√◊Õ‡Õ° Õπÿ™‘μ ‡¿°–π—π∑πå

ª√–∏“π°√√¡°“√

—¥ à«π°“√∂◊ÕÀÿâπ„π∫√‘…—∑

800,010 Àÿâπ §‘¥‡ªìπ√âÕ¬≈– 0.08

§ÿ≥«ÿ≤‘∑“ß°“√»÷°…“ / ª√–«—μ‘°“√Õ∫√¡

π“¬∑À“√ —≠≠“∫—μ√ ‚√ß‡√’¬ππ“¬‡√◊Õ√ÿàπ 2505 («∑∫.∑√.)

«‘∑¬“≈—¬ªÑÕß°—π√“™Õ“≥“®—°√¿“§√—∞√à«¡‡Õ°™π (ª√Õ.)√ÿàπ 344

ºà“π°“√Õ∫∫√¡À≈—° Ÿμ√ Chairman 2000 √ÿàπ 10 ®“° IOD

ºà“π°“√Õ∫√¡À≈—° Ÿμ√ DAP √ÿàπ 34 ®“° IOD

ºà“π°“√Õ∫√¡À≈—° Ÿμ√ DCP √ÿàπ 68 ®“° IOD

§«“¡ —¡æ—π∏å„π∑“ß§√Õ∫§√—«√–À«à“ß°√√¡°“√

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ª√– ∫°“√≥å°“√∑”ß“π μ—Èß·μàªï - ∂÷ßªï

∑’Ëª√÷°…“°√√¡“∏‘°“√μà“ßª√–‡∑» ¿“ºŸâ·∑π√“…Æ√ 2544 - 2549

ª√–∏“π∑’Ëª√÷°…“ª√–®”ª√–∏“π°√√¡“∏‘°“√°“√∑àÕß‡∑’Ë¬« ¿“ºŸâ·∑π√“…Æ√ 2540 - 2543

°√√¡°“√°“√∑à“‡√◊Õ·Ààßª√–‡∑»‰∑¬ / Õπÿ°√√¡°“√∫√‘À“√∑à“‡√◊Õ ·À≈¡©∫—ß 2539 - 2541

°√√¡°“√ °“√ª√–ª“π§√À≈«ß 2540 - 2541

π“¬∑À“√æ‘‡»…ª√–®”°√¡π—°‡√’¬ππ“¬√âÕ¬√—°…“æ√–Õß§å

‚√ß‡√’¬ππ“¬√âÕ¬æ√–®ÿ≈®Õ¡‡°≈â“ , °Õß∑—æ∫° 2541 - μ≈Õ¥™’æ

π“¬∑À“√æ‘‡»…ª√–®”°√¡π—°‡√’¬ππ“¬‡√◊Õ√—°…“æ√–Õß§å , °Õß∑—æ‡√◊Õ 2541 - μ≈Õ¥™’æ

π“¬∑À“√æ‘‡»…ª√–®”°√¡π—°‡√’¬ππ“¬‡√◊ÕÕ“°“»√—°…“æ√–Õß§å , °Õß∑—æÕ“°“» 2541 - μ≈Õ¥™’æ

√Õß‡ π“∏‘°“√∑À“√ °Õß∫—≠™“°“√∑À“√ Ÿß ÿ¥ 2539 - 2540

√ÕßºŸâ∫—≠™“°“√∑À“√ Ÿß ÿ¥ °Õß∫—≠™“°“√∑À“√ Ÿß ÿ¥ 2540 - 2541

ª√–∏“π§≥–°√√¡°“√∫√‘À“√°≈ÿà¡·æπ 2543 - ªí®®ÿ∫—π

ª√–∏“π°√√¡°“√ ∫¡®. À‚§‡®π (™≈∫ÿ√’) 2543 - ªí®®ÿ∫—π

ª√–∏“π°√√¡°“√ ∫√‘…—∑ ∑‘æ¬å«“√‘π«—≤π“ ®”°—¥ 2543 - ªí®®ÿ∫—π

125

The Board of Directors

Admiral Anuchit Bekanan

Chairman

Proportion of security holding

800,010 Shares or 0.08 %

Education / Training

Naval Officer Graduated from Royal Thai Naval Academy 1962 (B.Sc., R.T.N.)

National Defence College, Class 344 (1991)

Attended in Chairman 2000 #10 from IOD

Attended DAP # 34 programs from IOD

Attended DCP # 68 programs from IOD

Family relationship between directors

Nil

Experience Since year to year

Advisor to the Foreign Affair Commissioner, The House of Representatives 2001 - 2006

Chairman, The Advisory Board to the Board of Tourism Authority 1997 - 2000

Commissioner, The House of Representatives

Committee, The Port Authority of Thailand/ Subcommitee of Laem Chabang Port 1996 - 1998

Committee, The Metropolitan Waterworks Authority (MWA.) 1997 - 1998

Honorary Officer to the Cadet Regiments, Chulachomklao Academy (Marshal), 1998- Lifetime

Royal Thai Army

Honorary Officer to the Cadet Regiments, Royal Thai Naval Academy (Admiral), 1998 - Lifetime

Royal Thai Naval

Honorary Officer to the Cadet Regiments, Royal Thai Airforce Academy 1998 - Lifetime

(Air Chief Marshal), Royal Thai Airforce

Deputy Chief of Staff, Supreme Command Head Quarter (Admiral, RTN.) 1996 - 1997

Deputy Supreme Commander, Supreme Command Head Quarter (Admiral, RTN.) 1997 - 1998

Chairman of PAN Group 2000 - Present

Chairman of Sahacogen (Chonburi) PCL. 2000 - Present

Chairman of Tipwarinwattana Co., Ltd. 2000 - Present

126

π“¬∫ÿ≥¬ ‘∑∏‘Ï ‚™§«—≤π“

°√√¡°“√

—¥ à«π°“√∂◊ÕÀÿâπ„π∫√‘…—∑

16,400,000 Àÿâπ §‘¥‡ªìπ√âÕ¬≈– 1.72

§ÿ≥«ÿ≤‘∑“ß°“√»÷°…“ / ª√–«—μ‘°“√Õ∫√¡

ª√‘≠≠“¥ÿ…Æ’∫—≥±‘μ°‘μμ‘¡»—°¥‘Ï «‘»«°√√¡»“ μ√å ¡À“«‘∑¬“≈—¬¢Õπ·°àπ

ª√‘≠≠“¥ÿ…Æ’∫—≥±‘μ°‘μμ‘¡»—°¥‘Ï ∫√‘À“√∏ÿ√°‘® ¡À“«‘∑¬“≈—¬∫Ÿ√æ“

ª√‘≠≠“¥ÿ…Æ’∫—≥±‘μ°‘μμ‘¡»—°¥‘Ï “¢“∫√‘À“√∏ÿ√°‘® ¡À“«‘∑¬“≈—¬∏√√¡»“ μ√å

ª√‘≠≠“∫√‘À“√∏ÿ√°‘®¥ÿ…Æ’∫—≥±‘μ°‘μμ‘¡»—°¥‘Ï ∂“∫—π∫—≥±‘μæ—≤π∫√‘À“√»“ μ√å

ºà“π°“√Õ∫√¡À≈—° Ÿμ√ DAP √ÿàπ 3/2003 ®“° IOD

ºà“π°“√Õ∫√¡À≈—° Ÿμ DCP √ÿàπ 68/2005 ®“° IOD

§«“¡ —¡æ—π∏å„π∑“ß§√Õ∫§√—«√–À«à“ß°√√¡°“√

æ’ËπâÕß

ª√– ∫°“√≥å°“√∑”ß“π μ—Èß·μàªï - ∂÷ßªï

°√√¡°“√·≈–ª√–∏“π°√√¡°“√∫√‘À“√ ∫¡®. Àæ—≤π“Õ‘π‡μÕ√å‚Œ≈¥‘Èß 2547 - ªí®®ÿ∫—π

ª√–∏“π°√√¡°“√

- ∫¡®.‰∑¬‡æ√´‘‡¥π∑åøŸ¥ å 2515 - ªí®®ÿ∫—π

- ∫¡®. ∏πŸ≈—°…≥å 2518 - ªí®®ÿ∫—π

- ∫¡®. Àæ—≤πæ‘∫Ÿ≈ 2541 - ªí®®ÿ∫—π

- ∫®°. √à«¡ª√–‚¬™πå 2524 - ªí®®ÿ∫—π

- ∫®°. ·æπ·≈π¥å 2532 - ªí®®ÿ∫—π

- ∫®°. ‚™§«—≤π“ 2534 - ªí®®ÿ∫—π

- ∫®°. Àæ—≤πå‡√’¬≈‡Õ ‡μ∑ 2538 - ªí®®ÿ∫—π

√Õßª√–∏“π°√√¡°“√ ∫¡®. ‰Õ.´’.´’.Õ‘π‡μÕ√å‡π™—Ëπ·π≈ 2538 - ªí®®ÿ∫—π

°√√¡°“√∑’Ëª√÷°…“§≥–°√√¡°“√ ∫¡®. ‡∑Á°´å‰∑≈å‡æ√ ∑’® 2524 - ªí®®ÿ∫—π

°√√¡°“√∑’Ëª√÷°…“

- ∫¡®. ‰∑¬«“‚°â 2533 - ªí®®ÿ∫—π

- ∫®°. ‡æ√´‘‡¥π∑å‚Œ≈¥‘Èß 2524 - ªí®®ÿ∫—π

°√√¡°“√ºŸâ®—¥°“√ ∫®°. «—μ ¥√¡—¬ 2521 - ªí®®ÿ∫—π

°√√¡°“√ ∫¡®. À‚§‡®π (™≈∫ÿ√’) 2545 - ªí®®ÿ∫—π

127

Mr. Boonsithi Chokwatana

Director


16,400,000 shares or 1.72 %


The Honorary Doctorate Degree in Environmental Engineering, Khon Kaen University

The Honorary Doctorate Degree in Business Administration, Burapha University

The Honorary Doctorate Degree in Business Administration, Thammasat University

The Honorary Doctorate Degree in Business Administration, National Institution of Development Administration (NIDA)

Attended DAP#3/2003 from IOD

Attended DCP # 68/2005 from IOD


Brother


Director and Chairman of Executive Committee forSaha Pathana Inter-Holder PCL 2004 - Present

Chairman

- Thai President Foods PCL 1972 - present

- Thanulux PCL 1975 - present

- Saha Pathanapibul PCL 1998 - present

- United Utility Co.,Ltd. 1981 - Present

- Panland Co.,Ltd. 1989 - Present

- Chokwatana Co.,Ltd. 1991 - Present

- Sahapat Real Estate Co., Ltd. 1995 - Present

Vice Chairman of I.C.C. International PCL 1995 - Present

Advising Director to the Board of Directors for Textile Prestige PCL 1981 - Present

Advising Director of Thai Wacoal PCL 1990 - Present

Director of President-Holding Co.,Ltd. 1981 - Present

Managing Director of Watakadoramai Co., Ltd. 1978 - Present

Director of Sahacogen (Chonburi) PCL. 2002 - Present

128

π“¬∫ÿ≠‡°’¬√μ‘ ‚™§«—≤π“

°√√¡°“√

—¥ à«π°“√∂◊ÕÀÿâπ„π∫√‘…—∑

11,310,410 §‘¥‡ªìπ√âÕ¬≈– 1.18

§ÿ≥«ÿ≤‘∑“ß°“√»÷°…“ / ª√–«—μ‘°“√Õ∫√¡

ª√‘≠≠“∫√‘À“√∏ÿ√°‘®¥ÿ…Æ’∫—≥±‘μ°‘μμ‘¡»—°¥‘Ï «‘∑¬“≈—¬æ“≥‘™¬»“ μ√å ¡À“«‘∑¬“≈—¬∫Ÿ√æ“

ª√‘≠≠“∫√‘À“√∏ÿ√°‘® ¥ÿ…Æ’∫—≥±‘μ°‘μμ‘¡»—°¥‘Ï “¢“«‘™“°“√®—¥°“√ ¡À“«‘∑¬“≈—¬»√’ª∑ÿ¡

ª√‘≠≠“μ√’«‘»«°√√¡»“ μ√å “¢“«‘»«°√√¡‡§√◊ËÕß°≈ ®“° Worcester Polytechnic Institute, Massachusetts, U.S.A.

ºà“π°“√Õ∫√¡ DAP √ÿàπ 3/2003 ®“° IOD

ºà“π°“√Õ∫√¡ DCP √ÿàπ 41/2004 ®“° IOD

§«“¡ —¡æ—π∏å„π∑“ß§√Õ∫§√—«√–À«à“ß°√√¡°“√

æ’ËπâÕß

ª√– ∫°“√≥å°“√∑”ß“π μ—Èß·μàªï - ∂÷ßªï

°√√¡°“√

- »Ÿπ¬å√—∫Ω“°À≈—°∑√—æ¬å 2549 - ªí®®ÿ∫—π

- ¡“§¡∫√‘…—∑®¥∑–‡∫’¬π‰∑¬ ªí®®ÿ∫—π

- ∫¡®. Àæ—≤π“Õ‘π‡μÕ√å‚Œ≈¥‘Èß 2529 - ªí®®ÿ∫—π

- ∫¡®. À‚§‡®π (™≈∫ÿ√’) 2545 - ªí®®ÿ∫—π

ª√–∏“π°√√¡°“√

- ∫¡®. ‡Õ ·Õπ¥å ‡® Õ‘π‡μÕ√å‡π™—Ëπ·π≈ ‡Õπ‡μÕ√å‰æ√ å 2536 - ªí®®ÿ∫—π

- ∫¡®. ª√–™“Õ“¿√≥å 2537 - ªí®®ÿ∫—π

- ∫®°. À‚§‡®π °√’π 2549 - ªí®®ÿ∫—π

- ∫®°. ‡∑√™‡™Õ√åŒ‘≈≈å 2543 - ªí®®ÿ∫—π

°√√¡°“√ºŸâÕ”π«¬°“√ ∫¡®. ‰Õ.´’.´’. Õ‘π‡μÕ√å‡π™—Ëπ·π≈ 2538 - ªí®®ÿ∫—π

°√√¡°“√ºŸâ®—¥°“√

- ∫¡®. ‚Õ ´’ ´’ 2516 - ªí®®ÿ∫—π

- ∫¡®. ∫Ÿμ‘§π‘«´‘μ’È ªí®®ÿ∫—π

- ∫®°. √à«¡ª√–‚¬™πå 2524 - ªí®®ÿ∫—π

- ∫®°. ‚™§«—≤π“ 2515 - ªí®®ÿ∫—π

- ∫®°. ·æπ·≈π¥å 2532 - ªí®®ÿ∫—π

129

Mr. Boonkiet Chokwatana

Director

Proportion of security holding Shares or

11,310,410 Shares or 1.18%


Honorary Doctorate in Business Administration College of Commerce Burapha University

Honorary Doctorate Degree in Business Administration (Management) Sripratum University

B.S. Mechanical Engineering - Worcester Polytechnic Institute, Massachusetts, U.S.A.


Attended DCP41/2004 from IOD


Brother


Director

- Thailand Securities Depository Co., Ltd. 2006 - Present

- Thai Listed Companies Association Present

- Saha Pathana Inter-Holder PCL 1986 - Present

- Sahacogen (Chonburi) PCL. 2002 - Present

Chairman

- S&J International Enterprises PCL 1993 - Present

- Peopleûs Garment PCL 1994 - Present

- Sahacogen Green Co., Ltd. 2006 - Present

- Treasure Hill Co., Ltd. 2000 - Present

President of I.C.C. International PCL 1995 - Present

Managing Director

- O.C.C. PCL 1973 - Present

- Boutique New City PCL Present

- United Utility Co.,Ltd. 1981 - Present

- Chokwatana Co., Ltd. 1972 - Present

- Panland Co.,Ltd. 1989 - Present

130

π“¬ —πμ‘ «‘≈“ »—°¥“ππ∑å

°√√¡°“√

—¥ à«π°“√∂◊ÕÀÿâπ„π∫√‘…—∑

310,000 Àÿâπ §‘¥‡ªìπ√âÕ¬≈– 0.03

§ÿ≥«ÿ≤‘∑“ß°“√»÷°…“ / ª√–«—μ‘°“√Õ∫√¡

ª√‘≠≠“‚∑ °“√∫—≠™’ §≥–æ“≥‘™¬»“ μ√å·≈–°“√∫—≠™’ ®ÿÃ“≈ß°√≥å¡À“«‘∑¬“≈—¬

ª√‘≠≠“‚∑ °“√®—¥°“√ ∂“∫—π∫—≥±‘μ∫√‘À“√∏ÿ√°‘® »»‘π∑√å ®ÿÃ“≈ß°√≥å¡À“«‘∑¬“≈—¬

ª√‘≠≠“∫—μ√ «‘∑¬“≈—¬ªÑÕß°—π√“™Õ“≥“®—°√ À≈—° Ÿμ√¿“§√—∞√à«¡‡Õ°™π √ÿàπ∑’Ë 355


§«“¡ —¡æ—π∏å„π∑“ß§√Õ∫§√—«√–À«à“ß°√√¡°“√

‰¡à¡’

ª√– ∫°“√≥å°“√∑”ß“π μ—Èß·μàªï - ∂÷ßªï

¡“™‘° ¿“π‘μ‘∫—≠≠—μ‘·Ààß™“μ‘ 2549 - ªí®®ÿ∫—π

ª√–∏“π ¿“Õÿμ “À°√√¡·Ààßª√–‡∑»‰∑¬ 2549 - ªí®®ÿ∫—π

°√√¡°“√∫√√…—∑∫√‘À“√ ‘π∑√—æ¬å‰∑¬ 2545 - ªí®®ÿ∫—π

°√√¡°“√ ¿“ºŸâ àß ‘π§â“∑“ß‡√◊Õ·Ààßª√–‡∑»‰∑¬ 2538 - ªí®®ÿ∫—π

°√√¡°“√°“√π‘§¡Õÿμ “À°√√¡·Ààßª√–‡∑»‰∑¬ ªí®®ÿ∫—π

Õπÿ°√√¡°“√§≥–Õπÿ°√√¡°“√ √√À“∫√‘…—∑®¥∑–‡∫’¬πμ≈“¥À≈—°∑√—æ¬å·Ààßª√–‡∑»‰∑¬ ªí®®ÿ∫—π

°√√¡°“√ºŸâ®—¥°“√„À≠à·≈–°√√¡°“√∫√‘À“√ ∫¡®. Àæ—≤π“Õ‘π‡μÕ√å‚Œ≈¥‘Èß 2546 - ªí®®ÿ∫—π

°√√¡°“√Õ‘ √–

- ∫¡®. ∏π“§“√°√ÿß‰∑¬ 2548 - ªí®®ÿ∫—π

- ∫¡®. ™ÿ¡æ√Õÿμ “À°√√¡ πÈ”¡—πª“≈å¡ ªí®®ÿ∫—π

°√√¡°“√


- ∫¡®. À‚§‡®π (™≈∫ÿ√’) 2545 - ªí®®ÿ∫—π

- ∫®°. ∑√—æ¬å ‘π Àæ—≤πå 2526 - ªí®®ÿ∫—π

- ∫®°. ‘π¿√“¥√ 2531 - ªí®®ÿ∫—π

- ∫®°. Àæ—≤πå‡√’¬≈‡Õ ‡μ∑ 2538 - ªí®®ÿ∫—π

- ∫®°. ·æπ·≈π¥å 2540 - ªí®®ÿ∫—π

- ∫®°. ‡∑√™‡™Õ√åŒ‘≈≈å 2543 - ªí®®ÿ∫—π

- ∫®°. ‡øî ∑å¬Ÿ‰π‡μÁ¥Õ‘π¥— μ√’ 2547 - ªí®®ÿ∫—π

131

Mr. Santi Vilassakdanont

Director


310,000 share or 0.03 %


Master of Accounting, Chulalongkorn University

Master of Management (M.M.), Sasin Institute of Business Administration, Chulalongkorn University

National Defence Joint Publice / Private Sector Course National Defence College of Thailand



Nil


Member of National Legislative Assembly 2006 - Present

Chairman of the Federation of Thai Industries 2006 - Present

Director

- Thai Asset Management Corporation 2002 - Present

- Thai National Shippersû Council 1995 - Present

- Industrial Estate Authority of Thailand Present

Committee

- Nomination Committee of the Stock Exchange of Thailand Present

President of Saha Pattana Inter-Holding PCL 2003 - Present

Independent Director

- Krung Thai Bank PCL 2005 - Present

- Chumporn Industrial Palm Oil PCL Present

Director

- Saha Pathana Inter-Holder PCL 1985 - Present


- Sahapat Properties Co., Ltd. 1983 - Present

- Sinparadorn Co., Ltd. 1988 - Present

- Sahapat Real Estate Co., Ltd. 1995 - Present

- Panland Co., Ltd. 1997 - Present


- First United Industry Co., Ltd. 2004 - Present

132

π“¬«‘‚√®πå ∏’√«—≤πå«“∑’

°√√¡°“√ºŸâ®—¥°“√

—¥ à«π°“√∂◊ÕÀÿâπ„π∫√‘…—∑

0 Àÿâπ §‘¥‡ªìπ√âÕ¬≈– 0.00

§ÿ≥«ÿ≤‘∑“ß°“√»÷°…“ / ª√–«—μ‘°“√Õ∫√¡

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

ºà“π°“√Õ∫√¡À≈—° Ÿμ√ DAP ·≈– DCP √ÿàπ 68 ®“° IOD

§«“¡ —¡æ—π∏å„π∑“ß§√Õ∫§√—«√–À«à“ß°√√¡°“√

‰¡à¡’

ª√– ∫°“√≥å°“√∑”ß“π μ—Èß·μàªï - ∂÷ßªï

ºŸâ®—¥°“√ à«πæ—≤π“‚§√ß°“√ ∫®°. ‚§·«πμâ“ ‡ÕÁπ‡πÕ√å¬’Ë (ª√–‡∑»‰∑¬) 2542 - 2545

°√√¡°“√ºŸâ®—¥°“√ ∫®°. À‚§‡®π °√’π 2549 - ªí®®ÿ∫—π

°√√¡°“√ºŸâ®—¥°“√ ∫¡®. À‚§‡®π (™≈∫ÿ√’) 2545 - ªí®®ÿ∫—π

π“¬∏’√–»—°¥‘Ï «‘°‘μ‡»√…∞å

°√√¡°“√

—¥ à«π°“√∂◊ÕÀÿâπ„π∫√‘…—∑2,040,000 Àÿâπ §‘¥‡ªìπ√âÕ¬≈– 0.21§ÿ≥«ÿ≤‘∑“ß°“√»÷°…“ / ª√–«—μ‘°“√Õ∫√¡ª√‘≠≠“‚∑ “¢“∫√‘À“√∏ÿ√°‘® Clark University: Worcester, Massachusetts,U.S.A.ª√‘≠≠“μ√’ “¢“«‘»«°√√¡‡§¡’ Worcester Polytechnic Institute, Massachusetts, U.S.A.ºà“π°“√Õ∫√¡À≈—° Ÿμ√ DAP √ÿàπ 3/2003 ®“° IODºà“π°“√Õ∫√¡À≈—° Ÿμ√ DCP √ÿàπ 68/2005 ®“° IOD

§«“¡ —¡æ—π∏å„π∑“ß§√Õ∫§√—«√–À«à“ß°√√¡°“√

‰¡à¡’

ª√– ∫°“√≥å°“√∑”ß“π μ—Èß·μàªï - ∂÷ßªï°√√¡°“√- ∫¡®. ‡Õ ·Õπ¥å ‡® Õ‘π‡μÕ√å‡π™—Ëπ·π≈ ‡Õπ‡μÕ√å‰æ√ å 2528 - ªí®®ÿ∫—π- ∫¡®. À‚§‡®π (™≈∫ÿ√’) 2539 - ªí®®ÿ∫—π- ∫®°. À‚§‡®π °√’π 2549 - ªí®®ÿ∫—π- ∫®°. ™“≈å¥Õß(ª√–‡∑»‰∑¬) 2531 - ªí®®ÿ∫—π- ∫®°. ∑âÕª‡∑√Áπ¥å·¡πŸ·ø§‡®Õ√‘Ëß 2530 - ªí®®ÿ∫—π- ∫®°. ¬“¡“Œ—∑ ÷ (ª√–‡∑»‰∑¬) 2538 - ªí®®ÿ∫—π- ∫®°. ÕÕªÕ‡√™—ËππÕ≈ ‡ÕÁπ‡πÕ√å¬’Ë °√ÿäª 2539 - ªí®®ÿ∫—π- ∫®°. ·«≈Ÿ ªÕ√å∑ ®”°—¥ 2549 - ªí®®ÿ∫—π°√√¡°“√ºŸâ®—¥°“√- ∫¡®. ‡Õ ·Õπ¥å ‡® Õ‘π‡μÕ√å‡π™—Ëπ·π≈ ‡Õπ‡μÕ√å‰æ√ å 2528 - ªí®®ÿ∫—π- ∫®° Õ’‡Õø 2539 - ªí®®ÿ∫—π- ∫®° ‰«≈¥å‰≈ø å (ª√–‡∑»‰∑¬) 2546 - ªí®®ÿ∫—π

133

Mr. Viroj Theeravatvatee

Managing Director

Proportion of security holding0 share or 0.00 %

Education / TrainingBachelor of Engineering (Mechanical Engineering), Chulalongkorn UniversityAttended DAP from IODAttended DCP # 68 from IOD

Family relationship between directorsNil

Experience Since year to yearAsset Manager of Covanta Energy (Thailand) Co.,Ltd. 1999 - 2000Managing Director of Sahacogen Green Co., Ltd. 2006 - PresentManaging Director of Sahacogen (Chonburi) PCL. 2002 - Present

Mr. Thirasak Vikitset

Director

Proportion of security holding2,040,000 shares or 0.21 %

Education / TrainingMBA, Clark University: Worcester, Massachusetts, U.S.A.Bachelor of Chemical Engineering Worcester Polytechnic Institute, Massachusetts, U.S.A.Attended DAP#3/2003 from IODAttended DCP # 68/2005 from IOD

Family relationship between directorsNil

Experience Since year to yearDirector- S&J International Enterprises PCL 1985 - Present- Sahacogen (Chonburi) PCL. 1996 - Present- Sahacogen Green Co.,Ltd. 2006 - Present- Shaldan (Thailand) Co.,Ltd. 1988 - Present- Top Trend Manufacturing Co.,Ltd. 1987 - Present- Yamahatsu (Thailand) Co.,Ltd. 1995 - Present- Operational Energy Group Co.,Ltd. 1996 - Present- Valued Sport Co., Ltd. 2006 - PresentManaging Director- S&J International Enterprises PCL 1985 - Present- E.F. Co.,Ltd. 1996 - Present- Wildlives (Thailand) Co., Ltd. 2003 - Present

134

π“¬Õ—μ∂°√ °≈—Ëπ§«“¡¥’

°√√¡°“√

—¥ à«π°“√∂◊ÕÀÿâπ„π∫√‘…—∑

200,000 Àÿâπ §‘¥‡ªìπ√âÕ¬≈– 0.02

§ÿ≥«ÿ≤‘∑“ß°“√»÷°…“ / ª√–«—μ‘°“√Õ∫√¡

ª√‘≠≠“‡Õ° («‘»«°√√¡‡§√◊ËÕß°≈) University of Illinois at Urbana, U.S.A.


ºà“π°“√Õ∫√¡À≈—° Ÿμ√ DCP √ÿàπ 68/2005 ®“° IOD

§«“¡ —¡æ—π∏å„π∑“ß§√Õ∫§√—«√–À«à“ß°√√¡°“√

‰¡à¡’

ª√– ∫°“√≥å°“√∑”ß“π μ—Èß·μàªï - ∂÷ßªï

°√√¡°“√

- ∫¡®. ‡Õ ·Õπ¥å ‡® Õ‘π‡μÕ√å‡π™—Ëπ·π≈ ‡Õπ‡μÕ√å‰æ√ å 2534 - ªí®®ÿ∫—π

- ∫¡®. À‚§‡®π (™≈∫ÿ√’) 2539 - ªí®®ÿ∫—π

- ∫®°. À‚§‡®π °√’π 2549 - ªí®®ÿ∫—π

- ∫®°. ™“≈å¥Õß (ª√–‡∑»‰∑¬) ®”°—¥ 2531 - ªí®®ÿ∫—π

- ∫®°. ¬“¡“Œ—∑ ÷ (ª√–‡∑»‰∑¬) ®”°—¥ 2538 - ªí®®ÿ∫—π

- ∫®°. Õ’‡Õø 2539 - ªí®®ÿ∫—π

- ∫®°. ÕÕªÕ‡√™—ËππÕ≈ ‡ÕÁπ‡πÕ√å¬’Ë °√ÿäª 2539 - ªí®®ÿ∫—π

- ∫®°. ‰«≈¥å‰≈ø å (ª√–‡∑»‰∑¬) 2546 - ªí®®ÿ∫—π

- ∫®°. ·«≈Ÿ ªÕ√å∑ ®”°—¥ 2549 - ªí®®ÿ∫—π

°√√¡°“√ºŸâ®—¥°“√ ∫®°. ∑âÕª‡∑√Áπ¥å·¡πŸ·ø§‡®Õ√‘Ëß 2533 - ªí®®ÿ∫—π

π“¬∫ÿ≠ƒ∑∏‘Ï ¡À“¡πμ√’

°√√¡°“√

—¥ à«π°“√∂◊ÕÀÿâπ„π∫√‘…—∑

50,000 Àÿâπ §‘¥‡ªìπ√âÕ¬≈– 0.01

§ÿ≥«ÿ≤‘∑“ß°“√»÷°…“ / ª√–«—μ‘°“√Õ∫√¡

ª√‘≠≠“μ√’«‘∑¬“»“ μ√å∫—≥±‘μ ®ÿÃ“≈ß°√≥å¡À“«‘∑¬“≈—¬

ºà“π°“√Õ∫√¡ DAP #3/03 ®“° IOD

ºà“π°“√Õ∫√¡ DCP √ÿàπ 68 ®“° IOD

§«“¡ —¡æ—π∏å„π∑“ß§√Õ∫§√—«√–À«à“ß°√√¡°“√

‰¡à¡’

ª√– ∫°“√≥å°“√∑”ß“π μ—Èß·μàªï - ∂÷ßªï

°√√¡°“√

- ∫¡®. Àæ—≤πæ‘∫Ÿ≈ 2537 - ªí®®ÿ∫—π

- ∫¡®. À‚§‡®π (™≈∫ÿ√’) 2550 - ªí®®ÿ∫—π

°√√¡°“√Õ‘ √–·≈–°√√¡°“√μ√«® Õ∫ ∫¡®. ∏πŸ≈—°…≥å 2542 - 2549

°√√¡°“√ºŸâ®—¥°“√ ∫®°. ‰≈ÕâÕπ (ª√–‡∑»‰∑¬) 2539 - ªí®®ÿ∫—π

135

Mr. Atthakorn Glankwamdee

Director


200,000 shares or 0.02 %


Ph.D. (Mechanical Engineering) University of Illinois at Urbana, U.S.A.


Attended DCP # 68/2005 from IOD


Nil


Director

- S&J International Enterprises PCL 1991 - Present



- Shaldan (Thailand) Co.,Ltd. 1988 - Present

- Yamahatsu (Thailand) Co.,Ltd. 1995 - Present

- E.F. Co.,Ltd. 1996 - Present

- Operational Energy Group Co.,Ltd. 1996 - Present

- Wildlives (Thailand) Co., Ltd. 2003 - Present

- Valued Sport Co., Ltd. 2006 - Present

Managing Director of Top Trend Manufacturing Co., Ltd. 1990 - Present

Mr. Boonyarith Mahamontri

Director


50,000 shares or 0.01%

Education

Bachelor of Science, Chulalongkorn University

Attended DAP # 3/2003 from IOD

Attended DCP #68 from IOD


Nil


Director

- Saha Pathanaphibul PCL 1994 - Present


Independent and Audit Committee of Thanulux 1999 - 2006

Managing Director of Lion (Thailand) Co., Ltd. 1996 - Present

136

π“¬∑πß »√’®‘μ√å

°√√¡°“√

—¥ à«π°“√∂◊ÕÀÿâπ„π∫√‘…—∑

0 Àÿâπ §‘¥‡ªìπ√âÕ¬≈– 0.00

§ÿ≥«ÿ≤‘∑“ß°“√»÷°…“ / ª√–«—μ‘°“√Õ∫√¡

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

ºà“π°“√Õ∫√¡À≈—° Ÿμ√ DAP √ÿàπ3/2003 ®“° IOD

ºà“π°“√Õ∫√¡DCP √ÿàπ 72/2006 ®“° IOD

ºà“π°“√Õ∫√¡ FND √ÿàπ 9/2004 ®“° IOD

§«“¡ —¡æ—π∏å„π∑“ß§√Õ∫§√—«√–À«à“ß°√√¡°“√

‰¡à¡’

ª√– ∫°“√≥å°“√∑”ß“π μ—Èß·μàªï - ∂÷ßªï

∑’Ëª√÷°…“™ÿ¡™π∫â“πÀπÕß¢“¡ 2549 - ªí®®ÿ∫—π

°√√¡°“√ºŸâ™à«¬ºŸâ®—¥°“√„À≠à·≈–°√√¡°“√∫√‘À“√ ∫¡®. Àæ—≤π“Õ‘π‡μÕ√å‚Œ≈¥‘Èß 2546 - ªí®®ÿ∫—π

ª√–∏“π°√√¡°“√ ·≈–ª√–∏“π°√√¡°“√∫√‘À“√ ∫®°. Õ’ ‡∑‘√åπ ‰∑¬§Õπ´—≈μ‘Èß 1992 2544 - 2546

°√√¡°“√


- ∫¡®. À‚§‡®π (™≈∫ÿ√’) 2545 - ªí®®ÿ∫—π

- ∫®°. À‚§‡®π °√’π 2549 - ªí®®ÿ∫—π

- ∫®. ‘π¿√“¥√ 2547 - ªí®®ÿ∫—π

- ∫®. æ‘∑—°…å°‘® 2523 - ªí®®ÿ∫—π

- ∫®. ‡§.Õ“√å.‡Õ . ≈Õ®‘ μ‘§ å 2539 - 2548

°√√¡°“√ºŸâ®—¥°“√

- ∫®°. ‡øî ∑å¬Ÿ‰π‡μÁ¥Õ‘π¥— μ√’ 2531 - ªí®®ÿ∫—π

- ∫®°. ·æπ·≈π¥å 2543 - ªí®®ÿ∫—π

- ∫®°. ‡∑√™‡™Õ√åŒ‘≈≈å 2543 - ªí®®ÿ∫—π

- ∫®°. ∑√—æ¬å ‘π Àæ—≤πå 2545 - ªí®®ÿ∫—π

137

Mr. Tanong Srichit

Director


0 share or 0.00 %


Bachelor Degree in Political Science, Chulalongkorn University

Attended DAP #3/2003 from IOD

AttendedDCP #72/2006 from IOD

Attended FND #9/2004 from IOD


Nil


Adviser of Nongkharm Community 2006 - Present

Deputy Managing Director and Executive Committee of Saha Pathana Inter-Holder PCL 2003 - Present

Chairman and Chairman of Executive Committee of Eastern Thai Consulting 1992 Co., Ltd. 2001 - 2003

Director

- Saha Pathana Inter-Holder PCL. 1996 - Present



- Sinparadorn Co., Ltd. 2004 - Present

- Pitakkij Co., Ltd. 1980 - Present

- KRS Logistics Co., Ltd. 1996 - 2005

Managing Director

- First Unitrd Industry Co., Ltd. 1988 - Present

- Panland Co., Ltd. 2000 - Present


- Sahapat Properties Co., Ltd. 2002 - Present

138

π“¬πææ√ æß…å‡«™

°√√¡°“√Õ‘ √–·≈–ª√–∏“π§≥–°√√¡°“√μ√«® Õ∫

—¥ à«π°“√∂◊ÕÀÿâπ„π∫√‘…—∑

0 Àÿâπ §‘¥‡ªìπ√âÕ¬≈– 0

§ÿ≥«ÿ≤‘∑“ß°“√»÷°…“ / ª√–«—μ‘°“√Õ∫√¡

ª√‘≠≠“‚∑ Oregon State University ∑“ß‡»√…∞»“ μ√å

ª√‘≠≠“μ√’ University of Oregon (‡»√…∞»“ μ√å)

ºà“π°“√Õ∫√¡À≈—° Ÿμ√ DAP ®“° IOD

ºà“π°“√Õ∫√¡À≈—° Ÿμ√ DCP ®“° IOD

ºà“π°“√Õ∫√¡À≈—° Ÿμ√ ACP ®“° IOD

§«“¡ —¡æ—π∏å„π∑“ß§√Õ∫§√—«√–À«à“ß°√√¡°“√

‰¡à¡’

ª√– ∫°“√≥å°“√∑”ß“π μ—Èß·μàªï - ∂÷ßªï

President

- ∫¡®.‰Õ∑’«’ 2539 - 2544

- ∫ß≈. MCC 2531 - 2534

ª√–∏“π∫√‘À“√ ∫®°. Dynasty Ceramic 2534 - 2539

°√√¡°“√√ÕßºŸâ®—¥°“√ ∏π“§“√‡Õ‡™’¬∑√— μå 2527 - 2531

Vice President ∏π“§“√´‘μ’È ·∫ß°å 2517 - 2527

°√√¡°“√ºŸâ®—¥°“√ ∫®°. »√’√“™“ ‡Õ«‘‡Õ™—Ëπ 2543 - 2548

°√√¡°“√Õ‘ √–·≈–°√√¡°“√μ√«® Õ∫ ∫¡®. À‚§‡®π (™≈∫ÿ√’) 2548 - 2548

°√√¡°“√Õ‘ √–·≈–ª√–∏“π°√√¡°“√μ√«® Õ∫ ∫¡®. À‚§‡®π (™≈∫ÿ√’) 2549 - ªí®®ÿ∫—π

139

Mr. Nophorn Bhongsvej

Independent Director & Chairman of the Audit Committee


0 shares or 0 %


M.S. Oregon State University (ECON.)

B.A. University of Oregon (ECON.)

Attended DAP from IOD

Attended DCP from IOD

Attended ACP from IOD


Nil


President

- ITV PCL 1996 - 2001

- MCC Finance and Securities Co.,Ltd. 1988 - 1991

CEO of Dynasty Ceramic Co.,Ltd. 1991 - 1996

Director, Deputy President of Asiatrust Bank 1984 - 1988

Vice President of CitiBank 1974 - 1984

Managing Director of Sriracha Aviation Co.,Ltd. 2000 - 2005

Independent Director & Audit Committee of Sahacogen (chonburi) PCL. 2005 - 2005

Independent Director & Audit Committee Chairman of Sahacogen (Chonburi) PCL. 2006 - Present

140

æ≈μ”√«®‡Õ° ¡™“¬ ª√–¿— ¿—°¥’

°√√¡°“√Õ‘ √–·≈–°√√¡°“√μ√«® Õ∫

—¥ à«π°“√∂◊ÕÀÿâπ„π∫√‘…—∑

0 Àÿâπ §‘¥‡ªìπ√âÕ¬≈– 0

§ÿ≥«ÿ≤‘∑“ß°“√»÷°…“ / ª√–«—μ‘°“√Õ∫√¡

√—∞ª√–»“ π»“ μ√å (μ√.) ∂“∫—π∫—≥±‘μæ—≤π∫√‘À“√»“ μ√å æ—≤π∫√‘À“√»“ μ√å¡À“∫—≥±‘μ “¢“√—∞ª√–»“ π»“ μ√å

À≈—° Ÿμ√ ‡Õø.∫’.‰Õ √ÿàπ 93 (F.B.I.) ª√–‡∑» À√—∞Õ‡¡√‘°“

‚√ß‡√’¬π‡ π“∏‘°“√∑À“√∫° À≈—° Ÿμ√ª√–®”™ÿ¥∑’Ë 53

«‘∑¬“≈—¬ªÑÕß°—π√“™Õ“≥“®—°√ À≈—° Ÿμ√°“√ªÑÕß°—π√“™Õ“≥“®—°√¿“§√—∞√à«¡‡Õ°™π √ÿàπ∑’Ë 6

ºà“π°“√Õ∫√¡À≈—° Ÿμ√ DAP √ÿàπ∑’Ë 25/2004 ®“° IOD

ºà“π°“√Õ∫√¡À≈—° Ÿμ√ DCP √ÿàπ∑’Ë 51/2004 ®“° IOD

ºà“π°“√Õ∫√¡À≈—° Ÿμ√ ACP √ÿàπ∑’Ë 2/2004 ®“° IOD

ºà“π°“√Õ∫√¡À≈—° Ÿμ√ ACP √ÿàπ∑’Ë 12/2005 ®“° IOD

§«“¡ —¡æ—π∏å„π∑“ß§√Õ∫§√—«√–À«à“ß°√√¡°“√

‰¡à¡’

ª√– ∫°“√≥å°“√∑”ß“π μ—Èß·μàªï - ∂÷ßªï

∑’Ëª√÷°…“ª√–®” ”π—°π“¬°√—∞¡πμ√’ ”π—°π“¬°√—∞¡πμ√’ 2545 - 2545

ºŸâ™à«¬ºŸâ∫—≠™“°“√μ”√«®·Ààß™“μ‘ ”π—°ß“πμ”√«®·Ààß™“μ‘ 2543 - 2545

ºŸâ∫—≠™“°“√μ”√«®¿Ÿ∏√¿“§ 2 ”π—°ß“πμ”√«®·Ààß™“μ‘ 2540 - 2543

ºŸâ∫—≠™“°“√μ”√«®¿Ÿ∏√¿“§ 1 ”π—°ß“πμ”√«®·Ààß™“μ‘ 2539 - 2540

ºŸâ∫—≠™“°“√μ”√«®π§√∫“≈ ”π—°ß“πμ”√«®·Ààß™“μ‘ 2536 - 2539

°√√¡°“√Õ‘ √–·≈–ª√–∏“π§≥–°√√¡°“√μ√«® Õ∫ ∫¡®. Õ ¡∑. 2547 - 2549

°√√¡°“√Õ‘ √–·≈–°√√¡°“√μ√«® Õ∫ ∫¡®. ‰Õ.´’.´’. Õ‘π‡μÕ√å‡π™—Ëπ·π≈ 2547 - ªí®®ÿ∫—π

°√√¡°“√Õ‘ √–·≈–°√√¡°“√μ√«® Õ∫ ∫¡®. À‚§‡®π (™≈∫ÿ√’) 2548 - ªí®®ÿ∫—π

141

Pol. Gen. Somchai Prabhasabhakdi

Independent Director & Audit Committee


0 shares or 0 %


Master of Public Adminstration (M.P.A.), National Institution of Development Administration

F.B.I. Academy, USA (Class 93)

Chief of the Army Guard Staff (Class 53)

National Defence College (Class 6)

Attended DAP #25/2004 from IOD

Attended DCP #51/2004 from IOD

Attended ACP #2/2004 from IOD

Attended ACP#12/2005 from IOD


Nil


Advisor to the Office of the Prime Minister 2002 - 2002

Assistance Commissioner General, Royal Thai Police 2000 - 2002

Commissioner of Provincial Police Region 2 1997 - 2000

Commissioner of Provincial Police Region 1 1996 - 1997

Commissioner of Metropolitan Police 1993 - 1996

Independent Director & Audit Committee Chairman of MCOT PCL 2004 - 2006

Independent Director & Audit Committee of I.C.C. International PCL 2004 - Present

Independent Director & Audit Committee of Sahacogen (Chonburi) PCL. 2005- Present

142

π“¬Õ¡√ Õ—»«“π—π∑å°√√¡°“√Õ‘ √–·≈–°√√¡°“√μ√«® Õ∫

—¥ à«π°“√∂◊ÕÀÿâπ„π∫√‘…—∑

1,000,000 Àÿâπ §‘¥‡ªìπ√âÕ¬≈– 0.10

§ÿ≥«ÿ≤‘∑“ß°“√»÷°…“ / ª√–«—μ‘°“√Õ∫√¡MBA, Bowling Green State University, Ohio, U.S.A.∫—≠™’∫—≠±‘μ ®ÿÃ“≈ß°√≥å¡À“«‘∑¬“≈—¬ºà“π°“√Õ∫√¡À≈—° Ÿμ√- Stanford NUS Executive Program, Stanford University.- Changing Organizational Behavior, Wharton School, University of Pennsylvania.- DAP ®“° IOD

§«“¡ —¡æ—π∏å„π∑“ß§√Õ∫§√—«√–À«à“ß°√√¡°“√

‰¡à¡’

ª√– ∫°“√≥å°“√∑”ß“π μ—Èß·μàªï - ∂÷ßªï°√√¡°“√Õ‘ √–·≈–ª√–∏“π°√√¡°“√μ√«® Õ∫ ∫¡®.ª√–™“Õ“¿√≥å 2545 - ªí®®ÿ∫—π°√√¡°“√Õ‘ √–·≈–ª√–∏“π°√√¡°“√μ√«® Õ∫ ∫¡®. À‚§‡®π (™≈∫ÿ√’) 2545 - 2548°√√¡°“√Õ‘ √–·≈–°√√¡°“√μ√«® Õ∫ - ∫¡®. À‚§‡®π (™≈∫ÿ√’) 2545 - ªí®®ÿ∫—π- ∫¡®. ø“√åÕ’ ∑å ¥’¥’∫’ 2545 - ªí®®ÿ∫—π- ∫¡®. ‰Õ.´’.´’ Õ‘π‡μÕ√å‡π™—Ëπ·π≈ 2542 - ªí®®ÿ∫—π°√√¡°“√∫√‘À“√ ∫¡®. ∏π“§“√∑À“√‰∑¬ 2546 - ªí®®ÿ∫—π°√√¡°“√ - ∫¡®. ‰Õ.´’.´’ Õ‘π‡μÕ√å‡π™—Ëπ·π≈ 2523 - 2541 - ∫¡®. °√ÿß‡∑æ‚ ¿≥ 2548 - ªí®®ÿ∫—π - ∫®°. ∫’ ‡ÕÁπ ‡Õ™ ‡¡¥‘‡§‘≈ ªí®®ÿ∫—π

π“¬ ÿ√ß§å Õß§å‚¶…‘μ°√√¡°“√Õ‘ √–·≈–°√√¡°“√μ√«® Õ∫

—¥ à«π°“√∂◊ÕÀÿâπ„π∫√‘…—∑

0 Àÿâπ §‘¥‡ªìπ√âÕ¬≈– 0.00

§ÿ≥«ÿ≤‘∑“ß°“√»÷°…“ / ª√–«—μ‘°“√Õ∫√¡ª√‘≠≠“‚∑ “¢“«‘»«°√√¡‡§√◊ËÕß°≈ Lamar University. Beaumont, Texas, U.S.A.ª√‘≠≠“μ√’ “¢“«‘»«°√√¡‡§√◊ËÕß°≈ ®ÿÃ“≈ß°√≥å¡À“«‘∑¬“≈—¬ºà“π°“√Õ∫√¡À≈—° Ÿμ√ DAP ·≈– DCP √ÿàπ 68 ®“° IOD

§«“¡ —¡æ—π∏å„π∑“ß§√Õ∫§√—«√–À«à“ß°√√¡°“√

‰¡à¡’

ª√– ∫°“√≥å°“√∑”ß“π μ—Èß·μàªï - ∂÷ßªïÀ—«Àπâ“°Õß∫”√ÿß√—°…“ °“√‰øøÑ“ΩÉ“¬º≈‘μ·Ààßª√–‡∑»‰∑¬ 2519 - 2526ºŸâ®—¥°“√∑—Ë«‰ª ∫®°. §«ß‡®√‘≠ Õ‘‡≈Á§‚∑√π‘§ 2526 - 2534ºŸâ®—¥°“√∑—Ë«‰ª ∫®°. ªî‚μ√‰∑¬ 2535 - 2537°√√¡°“√ ∫¡®. À‚§‡®π (™≈∫ÿ√’) 2539 - 2544°√√¡°“√Õ‘ √–·≈–°√√¡°“√μ√«® Õ∫ ∫¡®. À‚§‡®π (™≈∫ÿ√’) 2545 - ªí®®ÿ∫—π°√√¡°“√ºŸâ®—¥°“√ ∫®° Õ’æ’‡Õ ‡ÕÁ¡æ“«‡«Õ√å‡¡âπ∑å 2547 - ªí®®ÿ∫—π

143

Mr. Amorn Asvanunt


Proportion of security holding1,000,000 shares or 0.10 %

Education / TrainingMBA. Bowling Green State University, Ohio, U.S.A.B.Accountancy, Chulalongkorn University.Stanford NUS Executive Program, Stanford University.Changing Organizational Behavior, Wharton School, University of Pennsylvania.DAP from IOD


Nil

Experience Since year to yearIndependence Director of Audit Committee Chairman of Peopleûs Garment PCL 2002 - PresentIndependence Director of Audit Committee Chairman of Sahacogen (Chonburi) PCL. 2002 - 2005Independence Director of Audit Committee- Sahacogen (Chonburi) PCL. 2002 - Present- Far East DDB PCL 2002 - Present- I.C.C International PCL 1999 - PresentExecutive Director of Thai Military Bank PCL 2003 - PresentDirector- I.C.C International PCL 1980 - 1998- Krungdhep Sophon PCL 2005 - Present- BNH Medical Center Co., Ltd. Present

Mr. Surong Ongkosit



0 share or 0.00 %

EducationMaster Degree (Mechanical), Lamar,University, Beaumont, Texas, U.S.A.Bachelor Degree (Mechanical), Chulalongkorn UniversityAttended DAP from IODAttended DCP # 68 from IOD


Nil

Experience Since year to yearHead - Gas Turbine Maintenance Department of EGAT 1976 - 1983General Manager of Kuang Charoen Electronics Co.,Ltd. 1983 - 1991General Manager of Petrothai Corp.,Ltd. 1992 - 1994Director of Sahacogen (Chonburi) PCL. 1996 - 2001Independence Director and Audit Committee of Sahacogen (Chonburi) PCL. 2002 - PresentManaging Director of PS Empowerment Co.,Ltd. 2004 - Present

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annual sahacogen 2550(th eng)

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