s&p : annual report 2005

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9  “√∫—≠ ¢âÕ¡Ÿ≈ ”§—≠∑“ß°“√‡ß‘π 10  “√®“°ª√–∏“π°√√¡°“√ 12 ≈—°…≥–°“√ª√–°Õ∫∏ÿ√°‘® 14 › ª√–«—쑧«“¡‡ªìπ¡“·≈–°“√‡ª≈’ˬπ·ª≈ß∑’Ë ”§—≠ 14 › ¿“æ√«¡°“√ª√–°Õ∫∏ÿ√°‘®¢Õß∫√‘…—∑·≈–∫√‘…—∑„π‡§√◊Õ 15 ‚§√ß √â“ß√“¬‰¥â 19 › º≈‘μ¿—≥±å·≈–°“√∫√‘°“√ 21 › °“√μ≈“¥ 28 › °“√®—¥À“º≈‘μ¿—≥±å¢Õß∫√‘…—∑·≈–∫√‘…—∑„π‡§√◊Õ 30 ¿“«–Õÿμ “À°√√¡·≈–°“√·¢àߢ—π 30 › °“√«‘®—¬·≈–æ—≤π“ 31 ‚§√ß°“√„πÕπ“§μ 32 ªí®®—¬§«“¡‡ ’Ë¬ß 33 ‚§√ß √â“ß°“√∂◊ÕÀÿâπ 34 › °≈ÿࡺŸâ∂◊ÕÀÿâπ√“¬„À≠à 10 √“¬·√° 35 › π‚¬∫“¬°“√®à“¬‡ß‘πªíπº≈ 35 °“√®—¥°“√·≈–°“√°”°—∫¥Ÿ·≈°‘®°“√ 36 ‚§√ß √â“ß°“√®—¥°“√ 36 §≥–°√√¡°“√∫√‘…—∑ 36 §≥–°√√¡°“√μ√«® Õ∫ 36 §≥–°√√¡°“√∫√‘À“√ 36 §≥–ºŸâ∫√‘À“√ 37 °“√ √√À“°√√¡°“√·≈–ºŸâ∫√‘À“√ 45 › §à“μÕ∫·∑πºŸâ∫√‘À“√ 46 §à“μÕ∫·∑π∑’ˇªìπμ—«‡ß‘π 46 §à“μÕ∫·∑πÕ◊ËπÊ 46 › °“√°”°—∫¥Ÿ·≈°‘®°“√∑’Ë¥’ 15 ¢âÕ 47 › °“√„™â¢âÕ¡Ÿ≈¿“¬„π 52 › °“√§«∫§ÿ¡¿“¬„π 53 › ∫ÿ§≈“°√ 54 √“¬°“√√–À«à“ß°—π 55 °“√«‘‡§√“–Àåº≈°“√¥”‡π‘πß“π·≈–∞“π–°“√‡ß‘π 57 √“¬ß“π§≥–°√√¡°“√μ√«® Õ∫ 60 √“¬ß“π¢ÕߺŸâ Õ∫∫—≠™’√—∫Õπÿ≠“μ 62 ß∫°“√‡ß‘π 63 ¢âÕ¡Ÿ≈∑—Ë«‰ª¢Õß∫√‘…—∑·≈–∫ÿ§§≈Õâ“ßÕ‘ß 104

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Annual Report 2005

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Page 1: S&P : Annual Report 2005

9

 “√∫—≠● ¢âÕ¡Ÿ≈ ”§—≠∑“ß°“√‡ß‘π 10

●  “√®“°ª√–∏“π°√√¡°“√ 12

● ≈—°…≥–°“√ª√–°Õ∫∏ÿ√°‘® 14

› ª√–«—쑧«“¡‡ªìπ¡“·≈–°“√‡ª≈’ˬπ·ª≈ß∑’Ë ”§—≠ 14

› ¿“æ√«¡°“√ª√–°Õ∫∏ÿ√°‘®¢Õß∫√‘…—∑·≈–∫√‘…—∑„π‡§√◊Õ 15

› ‚§√ß √â“ß√“¬‰¥â 19

› º≈‘μ¿—≥±å·≈–°“√∫√‘°“√ 21

› °“√μ≈“¥ 28

› °“√®—¥À“º≈‘μ¿—≥±å¢Õß∫√‘…—∑·≈–∫√‘…—∑„π‡§√◊Õ 30

› ¿“«–Õÿμ “À°√√¡·≈–°“√·¢àߢ—π 30

› °“√«‘®—¬·≈–æ—≤π“ 31

● ‚§√ß°“√„πÕπ“§μ 32

● ªí®®—¬§«“¡‡ ’Ë¬ß 33

● ‚§√ß √â“ß°“√∂◊ÕÀÿâπ 34

› °≈ÿࡺŸâ∂◊ÕÀÿâπ√“¬„À≠à 10 √“¬·√° 35

› π‚¬∫“¬°“√®à“¬‡ß‘πªíπº≈ 35

● °“√®—¥°“√·≈–°“√°”°—∫¥Ÿ·≈°‘®°“√ 36

› ‚§√ß √â“ß°“√®—¥°“√ 36

§≥–°√√¡°“√∫√‘…—∑ 36

§≥–°√√¡°“√μ√«® Õ∫ 36

§≥–°√√¡°“√∫√‘À“√ 36

§≥–ºŸâ∫√‘À“√ 37

› °“√ √√À“°√√¡°“√·≈–ºŸâ∫√‘À“√ 45

› §à“μÕ∫·∑πºŸâ∫√‘À“√ 46

§à“μÕ∫·∑π∑’ˇªìπμ—«‡ß‘π 46

§à“μÕ∫·∑πÕ◊ËπÊ 46

› °“√°”°—∫¥Ÿ·≈°‘®°“√∑’Ë¥’ 15 ¢âÕ 47

› °“√„™â¢âÕ¡Ÿ≈¿“¬„π 52

› °“√§«∫§ÿ¡¿“¬„π 53

› ∫ÿ§≈“°√ 54

● √“¬°“√√–À«à“ß°—π 55

● °“√«‘‡§√“–Àåº≈°“√¥”‡π‘πß“π·≈–∞“π–°“√‡ß‘π 57

● √“¬ß“π§≥–°√√¡°“√μ√«® Õ∫ 60

● √“¬ß“π¢ÕߺŸâ Õ∫∫—≠™’√—∫Õπÿ≠“μ 62

● ß∫°“√‡ß‘π 63

● ¢âÕ¡Ÿ≈∑—Ë«‰ª¢Õß∫√‘…—∑·≈–∫ÿ§§≈Õâ“ßÕ‘ß 104

Page 2: S&P : Annual Report 2005

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S&P SYNDICATE PUBLIC COMPANY LIMITEDANNUAL REPORT 2005

¢âÕ¡Ÿ≈ ”§—≠∑“ß°“√‡ß‘πº≈ª√–°Õ∫°“√ 2548 2547 2546 2545 2544(Àπ૬: æ—π∫“∑)

√“¬‰¥â®“°°“√¢“¬·≈–∫√‘°“√ 3,361,307 2,994,692 2,550,397 2,324,735 2,142,303

√“¬‰¥âÕ◊Ëπ 53,805 49,113 41,461 33,367 41,065

√“¬‰¥â√«¡ 3,415,112 3,043,805 2,591,859 2,362,840 2,186,408

°”‰√¢—Èπμâπ 1,428,276 1,256,982 1,064,531 977,999 921,903

°”‰√ (¢“¥∑ÿπ)  ÿ∑∏‘ 203,601 183,227 176,164 202,994 171,928

∞“π–∑“ß°“√‡ß‘π(Àπ૬: æ—π∫“∑)

 ‘π∑√—æ¬åÀ¡ÿπ‡«’¬π 777,585 586,254 567,085 521,284 465,158

 ‘π∑√—æ¬å√«¡ 2,084,535 1,748,889 1,599,823 1,498,712 1,315,684

Àπ’È ‘π√«¡ 511,853 444,396 373,348 352,969 480,974

 à«π¢ÕߺŸâ∂◊ÕÀÿâπ 1,572,682 1,304,493 1,226,475 1,145,743 834,710

∑ÿπ∑’ˇ√’¬°™”√–·≈â« 434,769 374,271 358,885 350,000 300,000

°√–· ‡ß‘π ¥ ÿ∑∏‘®“°°“√¥”‡π‘πß“π 414,370 326,379 348,671 318,955 272,428

Õ—μ√“ à«π∑“ß°“√‡ß‘π(Àπ૬: √âÕ¬≈–)

Õ—μ√“º≈μÕ∫·∑π®“° ‘π∑√—æ¬å√«¡ 9.77 10.48 11.01 13.54 13.07

Õ—μ√“º≈μÕ∫·∑πμàÕ à«π¢ÕߺŸâ∂◊ÕÀÿâπ 12.95 14.05 14.37 17.72 20.60

Õ—μ√“°”‰√ ÿ∑∏‘μàÕ√“¬‰¥â√«¡ 5.97 6.02 6.80 8.59 7.85

Àπ’È ‘πμàÕ à«π¢ÕߺŸâ∂◊ÕÀÿâπ 0.3:1 0.3:1 0.3:1 0.3:1 0.6:1

Õ—μ√“°“√‡μ‘∫‚μ(Àπ૬: √âÕ¬≈–)

Õ—μ√“°“√‡μ‘∫‚μ¢Õß√“¬‰¥â√«¡ 12.20 17.44 9.69 8.07 12.07

Õ—μ√“°“√‡μ‘∫‚μ¢Õß°”‰√ ÿ∑∏‘ 11.12 4.01 (13.20) 18.07 11.92

Õ—μ√“°“√‡μ‘∫‚μ¢Õß ‘π∑√—æ¬å√«¡ 19.19 9.32 6.74 13.91 14.63

Õ—μ√“ à«π¡Ÿ≈§à“μàÕÀÿâπ(Àπ૬: ∫“∑/Àÿâπ) (Par 5.- ∫“∑) (Par 5.- ∫“∑) (Par 5.- ∫“∑) (Par 5.- ∫“∑) (Par 5.- ∫“∑)

¡Ÿ≈§à“μ“¡∫—≠™’μàÕÀÿâπ 18.09 17.43 17.09 16.37 13.91

°”‰√ ÿ∑∏‘μàÕÀÿâπ 2.68 2.53 2.50 3.03 2.87

‡ß‘πªíπº≈μàÕÀÿâπ › 2.00 1.90 1.90 1.80

∑ÿπ‡√◊ÕπÀÿâπ(Àπ૬: æ—πÀÿâπ) (Par 5.- ∫“∑) (Par 5.- ∫“∑) (Par 5.- ∫“∑) (Par 5.- ∫“∑) (Par 5.- ∫“∑)

®”π«πÀÿâπ “¡—≠®¥∑–‡∫’¬π 105,000 105,000 105,000 105,000 105,000

®”π«πÀÿâπ “¡—≠™”√–·≈â« 86,954 74,854 71,777 70,000 60,000

®”π«πÀÿâπ “¡—≠∂—«‡©≈’ˬ 75,941 72,304 70,413 66,959 60,000

Page 3: S&P : Annual Report 2005

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S&P SYNDICATE PUBLIC COMPANY LIMITEDANNUAL REPORT 2005

 “√®“°ª√–∏“π°√√¡°“√

ªï 2548 ‡ªìπÕ’°ªïÀπ÷Ëß∑’Ë∫√‘…—∑œ ª√– ∫§«“¡ ”‡√Á®®“°º≈°“√¥”‡π‘πß“π∑’Ë¡’Õ—μ√“°“√‡®√‘≠‡μ‘∫‚μ‡æ‘Ë¡¢÷Èπ

¥â«¬°“√¢¬“¬∏ÿ√°‘®√â“πÕ“À“√·≈–‡∫‡°Õ√’Ë™ÁÕæ √«¡ 36 ®ÿ¥ ¢¬“¬μ≈“¥¿“¬„πª√–‡∑» ”À√—∫ ‘π§â“‡∫‡°Õ√’Ë Õ“À“√

·™à·¢Áß ·≈–‰ â°√Õ° ‡¢â“ Ÿà™àÕß∑“ß°“√®”Àπà“¬„À¡àÊ ‡™àπ Ÿ́‡ªÕ√å ‚μ√å ·≈–√â“π –¥«° ◊́ÈÕ μ≈Õ¥®π¢¬“¬μ≈“¥

μà“ߪ√–‡∑» ‚¥¬°“√ àßÕÕ° ‘π§â“‡∫‡°Õ√’Ë·≈–Õ“À“√·™à·¢Á߉ª®”Àπà“¬¬—ߪ√–‡∑»≠’˪ÿÉπ  «‘μ‡´Õ√å·≈π¥å Ω√—Ë߇» 

 À√—∞Õ‡¡√‘°“ ·§π“¥“ ÕÕ ‡μ√‡≈’¬  ‘ߧ‚ª√å ‰μâÀ«—π ·≈–æ¡à“ ‡ªìπμâπ

ªï æ.». 2548 π—∫‡ªìπªï·Ààߧ«“¡¿“§¿Ÿ¡‘„®¢Õß S&P Õ’°§√—ÈßÀπ÷Ëß ‡π◊ËÕß®“°∫√‘…—∑œ ‰¥â√—∫√“ß«—≈ºŸâ àßÕÕ°

 ‘π§â“·≈–∫√‘°“√¥’‡¥àπ ª√–®”ªï 2548 (Prime Ministerûs Export Award 2005)  ”À√—∫√â“πÕ“À“√‰∑¬„π

°√ÿß≈Õπ¥Õπ ÷́Ëߥ”‡π‘π°“√¿“¬„μâ™◊ËÕ çPatara Fine Thai Cuisineé ·≈–∫√‘…—∑œ ¬—߉¥â√—∫√“ß«—≈ Superbrands

Thailand 2005 „π∞“π–μ√“ ‘π§â“´÷ËßÕ¬Ÿà„π„® (top of mind) ¢ÕߺŸâ∫√‘‚¿§™“«‰∑¬

∫√‘…—∑‰¥â¢¬“¬‚§√ß°“√æ—≤π“√–∫∫ ÿ¢≈—°…≥–°“√º≈‘μÕ“À“√ (GMP) „π√â“πÕ“À“√·≈–‡∫‡°Õ√’Ë™ÁÕæ

∑—Èß 233 ®ÿ¥ À≈—ß®“°∑’Ë√â“πÕ“À“√ 5  “¢“¢Õ߇√“‰¥â√—∫°“√√—∫√Õß¡“μ√∞“π¥—ß°≈à“« ®“° ”π—°ß“π¡“μ√∞“π

º≈‘μ¿—≥±åÕÿμ “À°√√¡‡¡◊ËÕªï æ.». 2548 „π à«π¢Õß«—μ∂ÿ¥‘∫∑’Ë®—¥´◊ÈÕ®—¥À“„Àâ·°à√â“πÕ“À“√·≈–‡∫‡°Õ√’Ë™ÁÕæ

∑—ÈßÀ¡¥ °Á¡’°“√§«∫§ÿ¡·≈–‡ΩÑ“√–«—ߧ«“¡ª≈Õ¥¿—¬·≈–§ÿ≥¿“æÕ¬à“߇¢â¡ß«¥ ®π‰¥â√—∫‡°’¬√μ‘∫—μ√·≈–ªÑ“¬∑Õß

Õ“À“√ª≈Õ¥¿—¬ „π‚§√ß°“√Õ“À“√ª≈Õ¥¿—¬¢Õß°√¡«‘∑¬“»“ μ√å°“√·æ∑¬å °√–∑√«ß “∏“√≥ ÿ¢

‚√ßß“πº≈‘μ‡∫‡°Õ√’Ë·≈–‚√ßß“πº≈‘μÕ“À“√ ¡’°“√æ—≤π“√–∫∫§ÿ≥¿“æÕ¬à“ßμàÕ‡π◊ËÕ߇æ◊ËÕ„Àâ ‰¥â¡“μ√∞“π

 “°≈ ‚¥¬‰¥â√—∫°“√√—∫√Õß¡“μ√∞“π√–∫∫§ÿ≥¿“æ GMP, HACCP ·≈– ISO 9001 ®“°Àπ૬√“™°“√∑’Ë„Àâ°“√

√—∫√Õß√–∫∫§ÿ≥¿“æ Õ“∑‘‡™àπ  ”π—°ß“π§≥–°√√¡°“√Õ“À“√·≈–¬“ °√–∑√«ß “∏“√≥ ÿ¢ °√¡«‘™“°“√‡°…μ√

·≈–°√¡ª√–¡ß °√–∑√«ß‡°…μ√·≈– À°√≥å °“√√—∫√Õߧÿ≥¿“æπ’Èπ—∫«à“‡ªìπ à«π ”§—≠∑’˙૬‡ √‘¡„À⺟â∫√‘‚¿§

¡—Ëπ„®º≈‘μ¿—≥±å¢Õ߇√“¡“¬“«π“π°«à“ 33 ªï

Page 4: S&P : Annual Report 2005

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 ”À√—∫°‘®°√√¡∑“ߥâ“π —ߧ¡ ∫√‘…—∑œ ¬—ߧ߮—¥°‘®°√√¡‡æ◊ËÕ —ߧ¡Õ¬à“ßμàÕ‡π◊ËÕß ‡™àπ °‘®°√√¡·μàßÀπⓇ§â°

S&P Happy Bakery „À⇥Á°π—°‡√’¬π™—Èπª√–∂¡»÷°…“ªï∑’Ë 3 „π 30 ‚√߇√’¬π∑—Ë«°√ÿ߇∑æœ ‡æ◊ËÕ„À⇥Á°Ê ‰¥â√—∫

§«“¡‡æ≈‘¥‡æ≈‘π  πÿ° π“π ·≈–„™â®‘πμπ“°“√ √â“ß √√§åÕ¬à“߇μÁ¡∑’Ë°—∫°“√·μàßÀπⓇ§â°¥â«¬μπ‡Õß πÕ°®“°π’È·≈â«

∫√‘…—∑œ ¬—߉¥âπ”‡§â°ªÕπ¥å‰ª¡Õ∫„Àâ·°à‡¥Á°·≈–ºŸâ¥âÕ¬‚Õ°“ μ“¡¡Ÿ≈π‘∏‘·≈– ∂“π ß‡§√“–À凥Á°·≈–ºŸâæ‘°“√μà“ßÊ

√«¡ 42 Õߧå°√ μ“¡‡®μπ“√¡≥å¢Õß≈Ÿ°§â“„π‚§√ß°“√ 2005 Wishes - Cake A Wish Make A Wish ‡æ◊ËÕ

‡ªìπ°“√μÕ∫·∑π —ߧ¡ ∑—È߬—߉¥â∫√‘®“§‡ß‘π ¥·≈–º≈‘μ¿—≥±å„Àâ·°àÕߧå°√°“√°ÿ»≈ ·≈–π‘ ‘μ π—°»÷°…“ ‡æ◊ËÕ𔉪

®—¥°‘®°√√¡„π°“√ÕÕ°§à“¬μ“¡®—ßÀ«—¥μà“ßÊ ∑—Ë«ª√–‡∑»

„πªï æ.». 2549 ∫√‘…—∑œ «“ß·ºπ®–„™â°≈¬ÿ∑∏å°“√μ≈“¥‡™‘ß√ÿ° ‡æ◊ËÕ„Àâ “¡“√∂ πÕßμÕ∫μàÕ°“√

‡ª≈’ˬπ·ª≈ß°“√·¢àߢ—π ·≈–§«“¡μâÕß°“√¢Õß≈Ÿ°§â“‰¥âÕ¬à“ß∑—π°“√≥å ·≈–¥÷ß≈Ÿ°§â“√“¬„À¡àÊ ‡¢â“¡“„π√â“π„Àâ¡“°¢÷Èπ

‡æ◊ËÕ √â“ߧ«“¡‡®√‘≠‡μ‘∫‚μ„Àâ·°à∫√‘…—∑œ μàÕ‰ª ‚¥¬∫√‘…—∑œ ¡’·ºπ®–‡ªî¥ “¢“√â“πÕ“À“√ 10 ·Ààß ·≈–‡∫‡°Õ√’Ë™ÁÕæ

Õ’° 25 ·Ààß „π∑”‡≈∑’Ë¡’ºŸâ∫√‘‚¿§ —≠®√‰ª¡“§—∫§—Ëß ‡™àπ »Ÿπ¬å°“√§â“™—Èππ” ́ Ÿ‡ªÕ√å¡“√å‡°μ ‰Œ‡ªÕ√å¡“√å‡°μ ‚√ß欓∫“≈

Õ“§“√ ”π—°ß“π ·≈– ∂“π’∫√‘°“√πÈ”¡—π Õ’°∑—È߬—ß¡’·ºπ°“√ª√—∫ª√ÿßμ°·μàß√â“π “¢“∑’Ë¡’Õ¬Ÿà‡¥‘¡„Àâ∑—π ¡—¬·≈–

‡À¡“– ¡°—∫≈Ÿ°§â“„π·μà≈–∑”‡≈¥â«¬

§«“¡ ”‡√Á®μà“ßÊ ∑’Ë∫√‘…—∑œ ‰¥â√—∫ ‡°‘¥®“°§«“¡ “¡“√∂·≈–§«“¡¡ÿàß¡—Ëπ¢Õßæπ—°ß“π·≈–ºŸâ∫√‘À“√¢Õß

∫√‘…—∑œ √«¡∂÷ߧ≥–®—¥°“√·≈–§≥–°√√¡°“√∑ÿ°∑à“π∑’ˉ¥âÕÿ∑‘»‡«≈“‡æ◊ËÕ§«“¡°â“«Àπâ“ ·≈–‡®√‘≠√ÿà߇√◊ÕߢÕß∫√‘…—∑œ

‡ ¡Õ¡“ ¥‘©—π®÷ß„§√à¢Õ¢Õ∫§ÿ≥∑ÿ°∑à“π‰«â ≥ ‚Õ°“ π’ȥ⫬

(¿—∑√“ »‘≈“ÕàÕπ)

ª√–∏“π°√√¡°“√

Page 5: S&P : Annual Report 2005

14

S&P SYNDICATE PUBLIC COMPANY LIMITEDANNUAL REPORT 2005

≈—°…≥–°“√ª√–°Õ∫∏ÿ√°‘®

● ª√–«—쑧«“¡‡ªìπ¡“·≈–°“√‡ª≈’ˬπ·ª≈ß∑’Ë ”§—≠

● ∫√‘…—∑ ‡Õ  ·Õπ¥å æ’ ́ ‘𥑇§∑ ®”°—¥ (¡À“™π) À√◊Õ‡¥‘¡™◊ËÕ ∫√‘…—∑ ‡Õ  ·Õπ¥å æ’ ®”°—¥ °àÕμ—Èߢ÷Èπ‡¡◊ËÕªï

2516 ‚¥¬æ’ËπâÕßμ√–°Ÿ≈‰√«“ ·≈–»‘≈“ÕàÕπ ‚¥¬¡’§«“¡μ—Èß„®μâÕß°“√∑”√â“πÕ“À“√·≈–‡∫‡°Õ√’Ë∑’Ë¡’

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‰¥â‡√‘Ë¡‡ªî¥¥”‡π‘π°“√¢÷Èπ∑’Ë´Õ¬ª√– “π¡‘μ√  ÿ¢ÿ¡«‘∑ 23 Õ“À“√·≈–∫√‘°“√¢Õß çS&Pé ¡’™◊ËÕ‡ ’¬ß

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 ”§—≠Ê „π°√ÿ߇∑æœ Õ’°À≈“¬·Ààß

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§«“¡μâÕß°“√¢Õßμ≈“¥

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≈ß∑ÿπ¢¬“¬ “¢“√â“πÕ“À“√·≈–‡∫‡°Õ√’ˇæ‘Ë¡¢÷ÈπÕ¬à“ß√«¥‡√Á« √«¡∑—È߇ªî¥√â“πÕ“À“√ Patara Fine Thai

Cuisine  “¢“·√°∑’Ë°√ÿß≈Õπ¥Õπ ª√–‡∑»Õ—ß°ƒ…

μàÕ¡“∫√‘…—∑œ ‰¥â𔇠πÕº≈‘μ¿—≥±åÕ“À“√·≈–∫√‘°“√„À¡àÊ „Àâ·°à≈Ÿ°§â“ Õ“∑‘ Õ“À“√ ”‡√Á®√Ÿª·™à·¢Áß

¿“¬„μâ™◊ËÕ ç§«‘°¡’≈é ‰Õ»°√’¡§ÿ≥¿“懬’ˬ¡ 猓‡°âπ-¥“ é ∫√‘°“√®—¥ àßÕ“À“√∂÷ß∫â“π‡æ◊ËÕ‡æ‘Ë¡§«“¡

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● ªï 2541 ∫√‘…—∑œ ‰¥âª√—∫‚§√ß √â“ß°≈ÿà¡∫√‘…—∑œ „À¡à ‚¥¬À¬ÿ¥°“√¥”‡π‘π°‘®°“√¢Õß∫√‘…—∑¬àÕ¬ 4 ·Ààß

·≈–‚Õπ°‘®°“√∑—ÈßÀ¡¥„Àâ∫√‘…—∑œ ‡ªìπºŸâ¥”‡π‘π°“√·∑π ‡æ◊ËÕ‡æ‘Ë¡ª√– ‘∑∏‘¿“æ ·≈–§«“¡§≈àÕßμ—«

¢ÕßÕߧå°√

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Critical Control Point) ´÷Ë߇ªìπ¡“μ√∞“πº≈‘μ¿—≥±åÕ“À“√∑’ˬա√—∫„π«ß°“√Õÿμ “À°√√¡°“√º≈‘μ

Õ“À“√∑—Ë«‚≈° ·≈–‰¥â‡ªî¥√â“πÕ“À“√„À¡à¿“¬„μâ™◊ËÕ çPatioé ÷́Ë߇ªìπ√â“πÕ“À“√·∫∫√à«¡ ¡—¬∑’ˇπâπ‡¡πŸ

Õ“À“√μà“ߪ√–‡∑»

● ªï 2545 ‚√ßß“π‡∫‡°Õ√’ˉ¥â√—∫°“√√—∫√Õß¡“μ√∞“π GMP (Good Manufacturing Practice) ÷́Ëß

‡ªìπ°“√√—∫√ÕßÀ≈—°‡°≥±å°“√º≈‘μ∑’Ë¥’ „π à«π¢ÕßÀâÕߪؑ∫—μ‘°“√°Á‰¥â√—∫¡“μ√∞“π ISO-IEC 17025

®“° ”π—°ß“π¡“μ√∞“πÕÿμ “À°√√¡ ”À√—∫°√–∫«π°“√º≈‘μ „πªïπ’Ȭ—ß¡’°“√‡ªî¥‡§“πå‡μÕ√å°“·ø™◊ËÕ

ùBluecupû ¢÷Èπ¿“¬„π√â“π S&P ·≈–‡ªî¥√â“πÕ“À“√‰∑¬„πª√–‡∑» «‘μ‡´Õ√å·≈π¥å ¿“¬„μâ™◊ËÕ çThaié

● ªï 2546 ∫√‘…—∑œ ‰¥â𔇠πÕº≈‘μ¿—≥±å§ÿ°°’È ¿“¬„μ⬒ËÀâÕ çDelioé ´÷Ë߉¥â√—∫§«“¡π‘¬¡Õ¬à“ß¡“° ·≈–

‡ªî¥√â“π çPatioé ¢÷Èπ∑’Ë ‰μâÀ«—π ‡æ◊ËÕ√Õß√—∫§«“¡μâÕß°“√¢Õß≈Ÿ°§â“™“«μà“ߪ√–‡∑»∑’Ëπ‘¬¡Õ“À“√

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√à«¡ ¡—¬‰∑¬ - Ω√—Ëß  ”À√—∫ à«π°“√º≈‘μ∫√‘…—∑œ °Á‰¥â¢¬“¬‚√ßß“π∑’Ëπ‘§¡Õÿμ “À°√√¡≈“¥°√–∫—ß

‚¥¬´◊ÈÕ‚√ßß“π¢â“߇§’¬ßπ”¡“ª√—∫ª√ÿ߇æ◊ËÕ¢¬“¬°”≈—ߺ≈‘μÕ“À“√·™à·¢Áß ”‡√Á®√Ÿª

● ªï 2547 ∫√‘…—∑œ ‰¥â‡ªî¥√â“πÕ“À“√ ‰μ≈å∑—π ¡—¬ ”À√—∫§π√ÿàπ„À¡à¿“¬„μâ™◊ËÕ çVanilla Industryé

πÕ°®“°π—Èπ∫√‘…—∑¬—߉¥â√—∫ªÑ“¬ Clean Food Good Taste ·≈– Food Safety  ”À√—∫√â“πÕ“À“√

·≈–‡∫‡°Õ√’Ë™ÁÕæ√«¡ 70  “¢“ ®“°°√–∑√«ß “∏“√≥ ÿ¢ ·≈–¬—߉¥â√—∫°“√√—∫√Õß¡“μ√∞“π GMP

„π√â“πÕ“À“√ 5  “¢“ ®“° ”π—°ß“π¡“μ√∞“πº≈‘μ¿—≥±åÕÿμ “À°√√¡¥â«¬

● ªï 2548 ∫√‘…—∑œ ‰¥â‡ªî¥√â“πÕ“À“√ çVanillaé ‡æ‘Ë¡Õ’° 1 ·Ààß ·≈–‰¥â¢¬“¬ “¢“μà“ߪ√–‡∑»‡æ‘Ë¡¢÷ÈπÕ’°

1  “¢“ ¿“¬„μâ™◊ËÕ çGrand Patioé ∑’˪√–‡∑»‰μâÀ«—π  ”À√—∫√â“π çPataraé  “¢“ London ‰¥â√—∫

√“ß«—≈ PM Award 2005 (Prime Ministerûs Export Award 2005) ¥â“π Best Service Provider

´÷Ë߇ªìπ°“√μÕ°¬È”∂÷ߧ«“¡‡ªìπºŸâπ”∑“ߥâ“π√â“πÕ“À“√‰∑¬„πμà“ߪ√–‡∑»¢Õß∫√‘…—∑œ πÕ°®“°π’È

∫√‘…—∑œ ¬—߉¥â√—∫√“ß«—≈ Superbrands Thailand 2005 „π∞“π–∑’Ë S&P ‰¥â√—∫°“√¬°¬àÕß·≈–

¬Õ¡√—∫„πμ√“ ‘π§â“«à“‡ªìπ ‘π§â“¬Õ¥π‘¬¡„π„® (Top of mind) ¢ÕߺŸâ∫√‘‚¿§™“«‰∑¬

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∫√‘…—∑ ‡Õ  ·Õπ¥å æ’ ´‘𥑇§∑ ®”°—¥ (¡À“™π) ·≈–°≈ÿà¡∫√‘…—∑„π‡§√◊Õ ª√–°Õ∫∏ÿ√°‘®√â“πÕ“À“√·≈–

√â“π‡∫‡°Õ√’Ë √«¡∑—Èß®”Àπà“¬º≈‘μ¿—≥±å¿“¬„μâ™◊ËÕ ‡Õ  ·Õπ¥å æ’ ÷́Ëß “¡“√∂·∫àß®”·π°ª√–‡¿∑∏ÿ√°‘®‰¥â¥—ßπ’È

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¿“¬„μâ™◊ËÕ√â“π çS&Pé çPatioé çPataraé çVanillaé ç¡—ß°√∑Õßé

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çPataraé çSiam Kitchené çThaié ·≈–çPatioé

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∫√‘°“√√—∫®—¥‡≈’ȬßπÕ° ∂“π∑’Ë

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„π‡§√◊Õ¡’¥—ßμàÕ‰ªπ’È

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16

S&P SYNDICATE PUBLIC COMPANY LIMITEDANNUAL REPORT 2005

∫√‘…—∑¬àÕ¬

1. ∫√‘…—∑ ‡Õ  ·Õπ¥å æ’ ‚°≈‡∫‘≈ ®”°—¥ ‡ªìπ∫√‘…—∑„π‡§√◊Õ∑’˪√–°Õ∫°‘®°“√√â“πÕ“À“√‰∑¬„πμà“ߪ√–‡∑»

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∫√‘…—∑ ‡Õ  ·Õπ¥å æ’ ‚°≈‡∫‘≈ ®”°—¥ ¡’ª√– ∫°“√≥å„π°“√∫√‘À“√√â“πÕ“À“√ ·≈–¡’∫ÿ§≈“°√∑’Ë¡’§«“¡√Ÿâ §«“¡

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μâÕß°“√¢Õßμ≈“¥„π·μà≈–ª√–‡∑»∑’Ë®–≈ß∑ÿπ‡æ◊ËÕ§«“¡ –¥«°„π°“√ª√–°Õ∫∏ÿ√°‘®„πª√–‡∑»π—ÈπÊ √«¡∑—Èߥâ“π

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1. ∫√‘…—∑ ‡Õ  ·Õπ¥å æ’ ‡√ ∑—«√Õß∑å ®”°—¥ ª√–°Õ∫°‘®°“√√â“πÕ“À“√¿“¬„μâ™◊ËÕ¿—∑√“ ∑’Ë°√ÿß≈Õπ¥Õπ

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2. ∫√‘…—∑ ¿—∑√“ (‡®π’«“) ®”°—¥ ª√–°Õ∫°‘®°“√√â“πÕ“À“√¿“¬„μâ™◊ËÕ¿—∑√“ ∑’Ë°√ÿ߇®π’«“ ª√–‡∑»

 «‘μ‡´Õ√å·≈π¥å ªí®®ÿ∫—π¡’ 1  “¢“

3. ∫√‘…—∑ ∏’¡ øŸ¥ å (æ’∑’Õ’) ®”°—¥ ª√–°Õ∫°‘®°“√√â“πÕ“À“√¿“¬„μâ™◊ËÕ¿—∑√“ ∑’˪√–‡∑» ‘ߧ‚ª√å

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4. ∫√‘…—∑  ¬“¡ §‘∑‡™àπ §√Õ ‡«¬å æâÕ¬∑å (æ’∑’Õ’) ®”°—¥ ª√–°Õ∫°‘®°“√√â“πÕ“À“√¿“¬„μâ™◊ËÕ  ¬“¡

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‰μâÀ«—π ªí®®ÿ∫—π¡’ 2  “¢“

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 «‘μ‡´Õ√å·≈π¥å ªí®®ÿ∫—π¡’ 1  “¢“

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∑’˪√–‡∑»¡“‡≈‡ ’́¬ ªî¥¥”‡π‘π°“√μ—Èß·μà 30 °—𬓬π 2548

2. ∫√‘…—∑ ‡ √’«—≤πå øŸÑ¥ å ®”°—¥ ‡ªìπºŸâº≈‘μº≈‘μ¿—≥±å‰ â°√Õ°·≈–·Œ¡ ‡ âπæ“ μâ“ ·≈– ’ °≈‘Ëπ ∑’Ë„™â„π

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∫√‘…—∑¬àÕ¬∑’ËÀ¬ÿ¥¥”‡π‘πß“π

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∫√‘…—∑œ ‰¥âÀ¬ÿ¥¥”‡π‘πß“πμ—Èß·μàªï 2541 ·≈–¬—߉¡à‰¥â¥”‡π‘π°“√™”√–∫—≠™’ ·μà‰¥â¢“¬∑√—æ¬å ‘π∑—ÈßÀ¡¥„Àâ°—∫∫√‘…—∑œ

‡ªìπºŸâ¥”‡π‘πß“π·∑π·≈–„πªï 2546 ‰¥â≈¥∑ÿπ®¥∑–‡∫’¬π™”√–·≈â« ®“°‡¥‘¡ 60 ≈â“π∫“∑ ‡À≈◊Õ‡æ’¬ß 15 ≈â“π∫“∑

·≈–„πªï 2548 ‰¥â≈¥∑ÿπ®¥∑–‡∫’¬π™”√–·≈â« ®“°‡¥‘¡ 15 ≈â“π∫“∑ ‡À≈◊Õ‡æ’¬ß 4 ≈â“π∫“∑

∫√‘…—∑ ‡Õ  ·Õπ¥å æ’ ‡∫‡°Õ√’Ë ‚ª√¥—° å ®”°—¥ ¥”‡π‘π°‘®°√√¡°“√º≈‘μ ‘π§â“‡∫‡°Õ√’Ë·≈–¢“¬ àß„Àâ°—∫

∫√‘…—∑œ ‰¥âÀ¬ÿ¥¥”‡π‘πß“πμ—Èß·μàªï 2541 ·≈–¢≥–π’È¥”‡π‘π°“√™”√–∫—≠™’‡ √Á® ‘Èπ·≈⫇¡◊ËÕ«—π∑’Ë 26 °—𬓬π

2548

∫√‘…—∑ ‡Õ  ·Õπ¥å æ’ ¥‘ ∑√‘∫‘«™—Ëπ ·Õπ¥å ‡´≈ å ®”°—¥ ¥”‡π‘π°‘®°√√¡π“¬Àπâ“¢“¬ àß„Àâ°—∫∫√‘…—∑œ

‰¥âÀ¬ÿ¥¥”‡π‘πß“πμ—Èß·μàªï 2541 ·≈–¢≥–π’È¥”‡π‘π°“√™”√–∫—≠™’‡ √Á® ‘Èπ·≈⫇¡◊ËÕ«—π∑’Ë 26 °—𬓬π 2548

∫√‘…—∑ ‡Õ  ·Õπ¥å æ’ ·ø√π‰™ å´‘Ëß ®”°—¥ ¥”‡π‘π°‘®°√√¡¢“¬ ‘∑∏‘Ï√â“πÕ“À“√¿“¬„μâ™◊ËÕ ç‡Õ  ·Õπ¥å æ’é

„Àâ°—∫ºŸâ√—∫Õπÿ≠“μ ‰¥âÀ¬ÿ¥°“√¥”‡π‘πß“πμ—Èß·μàªï 2541 ·≈–¢≥–π’È¥”‡π‘π°“√™”√–∫—≠™’‡ √Á® ‘Èπ·≈⫇¡◊ËÕ«—π∑’Ë 26

°—𬓬π 2548

∫√‘…—∑√à«¡∑’ËÀ¬ÿ¥¥”‡π‘πß“π

∫√‘…—∑ ‡Õ  ·Õπ¥å æ’ ‡§‡∑Õ√‘Ëß ®”°—¥ ‡ªìπ∫√‘…—∑√à«¡∑ÿπ°—∫∫√‘…—∑ ¿—μ쓧“√ ¡—ß°√∑Õß ®”°—¥ ¥”‡π‘π

°‘®°√√¡¥â“π∫√‘°“√®—¥‡≈’ȬßπÕ° ∂“π∑’Ë¿“¬„μâ™◊ËÕ°“√§â“ ç‡Õ  ·Õπ¥å æ’é ªí®®ÿ∫—𠉥â‚Õπ°‘®°√√¡¥—ß°≈à“«„Àâ°—∫

∫√‘…—∑œ ‡ªìπºŸâ¥”‡π‘πß“π·∑π∑—ÈßÀ¡¥ ·≈–¢≥–π’È ‰¥â®¥∑–‡∫’¬π‡≈‘°∫√‘…—∑·≈–‡ √Á®°“√™”√–∫—≠™’·≈â«

∫√‘…—∑√à«¡

∫√‘…—∑ ‡Õ™¥’ ¥‘ ∑√‘∫‘«‡μÕ√å  (ª√–‡∑»‰∑¬) ®”°—¥ ‡ªìπ∫√‘…—∑√à«¡∑ÿπ°—∫ General Mills International

Holdings LLC ‚¥¬‡ªìπºŸâ√—∫ ‘∑∏‘Ï„π°“√π”‡¢â“·≈–®—¥®”Àπà“¬‰Õ»°√’¡ 猓‡°âπ-¥“ é ºà“π√â“πŒ“‡°â𥓠 ́ ÷Ëßªí®®ÿ∫—π

¡’Õ¬Ÿà 20  “¢“·≈–ºà“π´Ÿ‡ªÕ√å¡“√凰μμà“ßÊ

Page 9: S&P : Annual Report 2005

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S&P SYNDICATE PUBLIC COMPANY LIMITEDANNUAL REPORT 2005

‚§√ß √â“ß°≈ÿà¡∫√‘…—∑ ‡Õ  ·Õπ¥å æ’

∫¡®. ‡Õ  ·Õπ¥å æ’ ´‘𥑇§∑

∫®. ‡Õ  ·Õπ¥å æ’ ‚°≈‡∫‘≈

▲ ▲

∫®. ‡Õ  ·Õπ¥å æ’ ·Õ ‡´∑

(‡¥‘¡™◊ËÕ ∫®. ‡Õ ·Õπ¥åæ’

‰¡‡πÕ√åøŸÑ¥)

∫®. ‡Õ™¥’ ¥‘ ∑√‘∫‘«‡μÕ√å 

(ª√–‡∑»‰∑¬)

∫®. ‡ √’«—≤πå øŸÑ¥ å

∫®. ‡Õ  ·Õπ¥å æ’ ‡√ ∑—«√Õß∑å

(Õ—ß°ƒ…)

¿—∑√“ (‡®π’«“) ‡Õ  ‡Õ

( «‘μ‡´Õ√å·≈π¥å)▲▲ ∫√‘…—∑∑’ËÀ¬ÿ¥¥”‡π‘π°‘®°“√  —¥ à«π∂◊ÕÀÿâπ

∫√‘…—∑ ‡Õ  ·Õπ¥å æ’ §‘∑‡™àπ ®”°—¥ 99.99%

 ¬“¡ §‘∑‡™àπ ‡Õ ¥’‡ÕÁπ ∫’‡Õ™¥’ (¡“‡≈‡´’¬) 50.00%∏’¡ øŸ¥ å æ’∑’Õ’

( ‘ߧ‚ª√å)

 ¬“¡ §‘∑‡™àπ §√Õ ‡«¬å æâÕ¬∑å

( ‘ߧ‚ª√å)▲▲

∫®. ¿—∑√“ ‰μâÀ«—π

(‰μâÀ«—π)

∫®. æ“∑‘‚Õ Õ‘π‡μÕ√å‡π™—Ëπ·π≈

(‰μâÀ«—π)▲▲

¿—∑√“ ¥’‡«≈≈Õª‡¡âπ∑å ‡Õ ‡Õ

( «‘μ‡´Õ√å·≈π¥å)

80.00% 99.96% 99.93% 49.00%

96.00% 62.00%

50.00% 50.00%

50.00% 55.00%

45.00%

Page 10: S&P : Annual Report 2005

19

 à«π·∫àß√“¬‰¥âμ“¡™àÕß∑“ß°“√®—¥®”Àπà“¬ ªï 2548

● ‚§√ß √â“ß√“¬‰¥â

Àπ૬ (≈â“π∫“∑)

% °“√∂◊ÕÀÿâπ√“¬‰¥â·¬°μ“¡™àÕß∑“ß°“√®—¥®”Àπà“¬ ¥”‡π‘π°“√‚¥¬ 2548 √âÕ¬≈– 2547 √âÕ¬≈– 2546 √âÕ¬≈–

¢Õß∫√‘…—∑œ

∏ÿ√°‘®√â“πÕ“À“√

„πª√–‡∑» S&P › 1,364 40.6% 1,242 41.5% 1,087 42.6%

μà“ߪ√–‡∑» S&P Global 80.00 631 18.8% 502 16.8% 397 15.6%

∏ÿ√°‘®√â“π‡∫‡°Õ√’Ë S&P › 845 25.1% 792 26.4% 666 26.1%

∏ÿ√°‘®¢“¬ àß ‘π§â“·≈–∫√‘°“√Õ◊ËπÊ S&P › 259 7.7% 230 7.7% 186 7.3%

∫√‘°“√ àß∂÷ß∫â“π·≈–®—¥‡≈’ȬßπÕ° ∂“π∑’Ë S&P › 262 7.8% 229 7.6% 214 8.4%

√«¡ 3,361 100.0% 2,995 100.0% 2,550 100.0%

∏ÿ√°‘® àßμ“¡∫â“π·≈–®—¥‡≈’Ȭß

8%

∏ÿ√°‘®¢“¬ àß8%

√â“πÕ“À“√„πª√–‡∑»

40%√â“π‡∫‡°Õ√’Ë

25%

√â“πÕ“À“√μà“ߪ√–‡∑»

19%

Page 11: S&P : Annual Report 2005

20

S&P SYNDICATE PUBLIC COMPANY LIMITEDANNUAL REPORT 2005

Àπ૬ (≈â“π∫“∑)

% °“√∂◊ÕÀÿâπ√“¬‰¥â·¬°μ“¡ ‘π§â“·≈–∫√‘°“√ ¥”‡π‘π°“√‚¥¬ 2548 √âÕ¬≈– 2547 √âÕ¬≈– 2546 √âÕ¬≈–

¢Õß∫√‘…—∑œ

Õ“À“√·≈–‡§√◊ËÕߥ◊Ë¡ S&P › 1,600 47.6% 1,399 47.0% 1,167 46.0%

º≈‘μ¿—≥±å‡∫‡°Õ√’Ë S&P › 1,474 43.9% 1,345 45.0% 1,154 45.0%

Õ“À“√ ”‡√Á®√Ÿª·™à·¢Áß S&P › 115 3.4% 114 4.0% 105 4.0%

º≈‘μ¿—≥±å‡π◊ÈÕ —μ«å·ª√√Ÿª S&P › 51 1.5% 49 2.0% 41 2.0%

¡—°°–‚√π’·≈–°≈‘Ëπ ’ S&P › 34 1.0% 38 1.0% 36 1.0%

 ‘π§â“Õ◊Ëπ S&P › 87 2.6% 50 2.0% 47 2.0%

√«¡ 3,361 100.0% 2,995 100.0% 2,550 100.0%

„πªï 2548 ‚§√ß √â“ß√“¬‰¥âÀ≈—°¢Õß°≈ÿà¡∫√‘…—∑ ‡Õ  ·Õπ¥å æ’ ¡“®“°∏ÿ√°‘®√â“πÕ“À“√·≈–‡∫‡°Õ√’˧‘¥‡ªìπ

√âÕ¬≈– 85 ¢Õß√“¬‰¥â√«¡ ‚¥¬‡ªìπ∏ÿ√°‘®√â“πÕ“À“√·≈–‡∫‡°Õ√’Ë„πª√–‡∑»√âÕ¬≈– 66 ·≈–¡“®“°∏ÿ√°‘®√â“π

Õ“À“√μà“ߪ√–‡∑»√âÕ¬≈– 19 √“¬‰¥â∑’ˇÀ≈◊ÕÕ’°ª√–¡“≥√âÕ¬≈– 15 ¡“®“°°“√∑’Ë∫√‘…—∑ª√–°Õ∫∏ÿ√°‘®¢“¬ àß ‘π§â“

√«¡∂÷ß°“√„Àâ∫√‘°“√Õ◊ËπÊ ‡™àπ ∫√‘°“√ àßÕ“À“√∂÷ß∫â“π·≈–®—¥‡≈’ȬßπÕ° ∂“π∑’Ë

 à«π·∫àß√“¬‰¥âμ“¡√“¬º≈‘μ¿—≥±å ªï 2548

‡π◊ÈÕ —μ«å·ª√√Ÿª2%

¡—°°–‚√π’·≈–°≈‘Ëπ ’

1% ‘π§â“Õ◊Ëπ

3%

Õ“À“√·≈–‡§√◊ËÕߥ◊Ë¡

47%

‡∫‡°Õ√’Ë44%

Õ“À“√ ”‡√Á®√Ÿª·™à·¢Áß3%

Page 12: S&P : Annual Report 2005

21

● º≈‘μ¿—≥±å·≈–°“√∫√‘°“√

º≈‘μ¿—≥±å

º≈‘μ¿—≥±å¢Õß∫√‘…—∑œ ·∫à߉¥â‡ªìπ 5 ª√–‡¿∑ ¥—ßπ’È

1. º≈‘μ¿—≥±å‡∫‡°Õ√’Ë

∫√‘…—∑œ ¡’°“√æ—≤π“‡§â°·∫∫„À¡àÊ ‡æ◊ËÕ√Õß√—∫§«“¡μâÕß°“√¢ÕߺŸâ∫√‘‚¿§μ“¡‚Õ°“  ·≈–‡∑»°“≈μà“ßÊ

√«¡∑—Èß°“√ ◊́ÈÕ≈‘¢ ‘∑∏‘Ïμ—«°“√åμŸπ (Character) ¢Õß«Õ≈μå ¥‘ π’¬å ¡“„™â·μàßÀπⓇ§â°´÷Ë߉¥â√—∫°“√μÕ∫√—∫®“°ºŸâ∫√‘‚¿§

‡ªìπÕ¬à“ߥ’ πÕ°®“°π’È ∫√‘…—∑œ ¬—߉¥â«“ß®”Àπà“¬§ÿ°°’È μ√“‡¥≈‘‚Õ (Delio) ™π‘¥∫√√®ÿ´Õß ‡æ◊ËÕ„Àâ√“§“μàÕÀπ૬

‡À¡“– ¡°—∫°“√∑¥≈Õß ◊́ÈÕ™‘¡¢ÕߺŸâ∫√‘‚¿§ ∑”„Àâ “¡“√∂°√–®“¬°“√®”Àπà“¬‰ª¬—ß®ÿ¥®”Àπà“¬πÕ° “¢“¢Õß S&P

‰¥â¡“°¢÷Èπ

 ”À√—∫°“√æ—≤π“°√–∫«π°“√º≈‘μπ—Èπ ∫√‘…—∑œ ‰¥â¬â“¬°“√º≈‘μ ‡§â°‡π¬·™à·¢Áß™π‘¥∫√√®ÿ°≈àÕß ·≈–

™π‘¥∫√√®ÿ´Õ߉ª¬—ß‚√ßß“π‡∫‡°Õ√’Ë∑’Ë∂ππ∫“ßπ“ - μ√“¥ °¡. 23 ‚¥¬∑’Ë‚√ßß“π·Ààßπ’È ‰¥âμ‘¥μ—È߇§√◊ËÕß®—°√„ÀâÕ“°“»

(Mondomix) ·≈–‡μ“Õ∫„À¡à´÷Ë߉¥â≈ß∑ÿπ‰«â‡¡◊ËÕªï æ.». 2547 - 2548 ∑”„Àâ “¡“√∂º≈‘쇧â°∑’Ë¡’‡π◊ÈÕ‡π’¬π≈–‡Õ’¬¥

§«∫§ÿ¡§ÿ≥¿“æ¢Õ߇π◊ÈÕ‡§â°‰¥â ¡Ë”‡ ¡Õ ·≈– –Õ“¥

∫√‘…—∑œ ¬—ß¡’°“√≈ß∑ÿπ ◊́ÈÕ‡§√◊ËÕß®—°√º≈‘μ擬·™à·¢ÁßÕ—μ‚π¡—μ‘ ´÷Ëߙ૬„Àâº≈‘μ擬·™à·¢Á߉¥â§ÿ≥¿“æ

 ¡Ë”‡ ¡Õ  “¡“√∂º≈‘쉥â∂÷ß«—π≈– 100,000 ™‘Èπ πÕ°®“°π’È ¬—߉¥âæ—≤π“≈“π®—¥ àß (Loading Dock) μ“¡¡“μ√∞“π

GMP ∑”„Àâ “¡“√∂§«∫§ÿ¡§ÿ≥¿“æ„π°“√®—¥ àß ‘π§â“‰¥â¥’¢÷Èπ

Page 13: S&P : Annual Report 2005

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S&P SYNDICATE PUBLIC COMPANY LIMITEDANNUAL REPORT 2005

2. º≈‘μ¿—≥±åÕ“À“√·™à·¢Áß

 ”À√—∫º≈‘μ¿—≥±åÕ“À“√·™à·¢ÁߢÕß∫√‘…—∑œ  “¡“√∂·∫àßÕÕ°‡ªìπª√–‡¿∑μà“ßÊ ‰¥â¥—ßπ’È

2.1 Õ“À“√ ”‡√Á®√Ÿª·™à·¢Áß ç§«‘°¡’≈é (Quick Meal) ÷́Ëߺ≈‘μ®”Àπà“¬∑—Èߪ√–‡¿∑Õ“À“√®“π‡¥’¬«

°—∫¢â“« ¢π¡À«“π Õ“À“√¡—ß «‘√—μ‘ ‡ªìπº≈‘μ¿—≥±å∑’ˇÀ¡“–°—∫«‘∂’™’«‘μÕ—π√’∫‡√àߢÕߧπ‡¡◊Õß ÷́Ëß

‰¡à¡’‡«≈“„π°“√‡μ√’¬¡Õ“À“√¡“°π—° ‡æ’¬ßπ”Õ“À“√ ”‡√Á®√Ÿª·™à·¢Áß ç§«‘°¡’≈é Õÿàπ„π‡μ“

‰¡‚§√‡«ø‰¡à°’Ëπ“∑’ °Á√—∫ª√–∑“π‰¥â

2.2 Õ“À“√·™à·¢Áߪ√–‡¿∑∂ÿß ‡ªìπº≈‘μ¿—≥±å∑’˺≈‘μ¢÷Èπ‡æ◊ËÕ„™â‡ªìπ«—μ∂ÿ¥‘∫ ”À√—∫√â“πÕ“À“√ “¢“ ÷́Ëß

®–™à«¬≈¥‡«≈“„π°“√‡μ√’¬¡Õ“À“√„Àâ≈Ÿ°§â“ μ≈Õ¥®π™à«¬§«∫§ÿ¡ Ÿμ√°“√º≈‘μ„Àâ ‰¥â§ÿ≥¿“æ

 ¡Ë”‡ ¡Õ ·≈–™à«¬§«∫§ÿ¡μâπ∑ÿπÕ’°¥â«¬

2.3 º≈‘μ¿—≥±åª√–‡¿∑´Õ  πÈ”®‘È¡ ·≈–‡§√◊ËÕß·°ßμà“ßÊ ‡æ◊ËÕ„™â‡ªìπ«—μ∂ÿ¥‘∫ ”À√—∫√â“πÕ“À“√ “¢“

3. º≈‘μ¿—≥±å‡π◊ÈÕ —μ«å·ª√√Ÿª

Page 14: S&P : Annual Report 2005

23

∫√‘…—∑¡’°“√º≈‘μº≈‘μ¿—≥±å‡π◊ÈÕ —μ«å·ª√√Ÿª ‚¥¬‡ªìπ°“√º≈‘μ‡æ◊ËÕ®”Àπà“¬„Àⷰຟâ∫√‘‚¿§∑—Ë«‰ª ·≈–

º≈‘μ‡æ◊ËÕ‡ªìπ«—μ∂ÿ¥‘∫„Àâ·°à√â“πÕ“À“√ “¢“ º≈‘μ¿—≥±å¥—ß°≈à“«‰¥â·°à

3.1 º≈‘μ¿—≥±å‰ â°√Õ°·≈–·Œ¡ ª√–‡¿∑∫√√®ÿ´Õß ÿ≠≠“°“» ”À√—∫¢“¬ª≈’° Õ“∑‘‡™àπ ‰ â°√Õ°

·ø√߇øÕ√å‡μÕ√å ‰ â°√Õ°À¡Ÿ°√–‡∑’¬¡æ√‘°‰∑¬ ‰ â°√Õ°™’  ‰ â°√Õ°√«¡√  ·Œ¡ ·≈–Õ◊ËπÊ

´÷Ëß¡’®”Àπà“¬„π√â“πÕ“À“√ “¢“ Ÿ́‡ªÕ√å¡“√å‡°μ ·≈–√â“π –¥«° ◊́ÈÕμà“ßÊ

3.2 º≈‘μ¿—≥±å‰ â°√Õ° ·Œ¡ ·≈–‡π◊ÈÕÀ¡Ÿ - ‰°àª√ÿß√   ”À√—∫ à߇ªìπ«—μ∂ÿ¥‘∫„Àâ°—∫√â“πÕ“À“√ “¢“

‡æ◊ËÕ𔉪ª√ÿßÕ“À“√μàÕ‰ª

4. º≈‘μ¿—≥±åæ“ μâ“·≈–«—μ∂ÿ‡®◊ÕªπÕ“À“√

4.1 º≈‘μ¿—≥±å‡ âπæ“ μâ“Õ∫·Àâß ‰¥â·°à ‡ â𠪓‡°μμ’ ·≈–¡—°°–‚√π’ ¿“¬„μâ·∫√π¥å ç√Õ¬—≈≈’é

(ROYALLEE) ∫√√®ÿ¢“¬ª≈’°μ“¡ Ÿ́‡ªÕ√å¡“√凰μ∑—Ë«‰ª

4.2 º≈‘μ¿—≥±å«—μ∂ÿ¥‘∫‡®◊ÕªπÕ“À“√ ‰¥â·°à ºßøŸ  ’º ¡Õ“À“√ ·≈–‡§¡’Õ“À“√μà“ßÊ ‡æ◊ËÕ®”Àπà“¬„Àâ

·°à°≈ÿࡺŸâº≈‘μ¢π¡ªíß ¢π¡Õ∫ √–¥—∫Õÿμ “À°√√¡ πÕ°®“°π’Ȭ—ß¡’º≈‘μ¿—≥±åÕ¬à“ßÕ◊ËπÊ „π°≈ÿà¡π’È

‡™àπ ºß§— μ“√å¥ ·ªÑß·æπ‡§â° ·≈–·ªÑߺ ¡ ”À√—∫∑”‡∫‡°Õ√’Ë ª√–‡¿∑μà“ßÊ ¿“¬„μâ·∫√π¥å

ç√Õ¬—≈≈’é (ROYALLEE) ÷́Ëß«“ß®”Àπà“¬„π Ÿ́‡ªÕ√å¡“√凰μ

4.3  “¬°“√º≈‘μπ’Ȭ—ß “¡“√∂√—∫®â“ߺ≈‘μ ∫¥ º ¡ ·ªÑߪ√–‡¿∑μà“ßÊ ·≈–πÈ”μ“≈ªÉπ‚¥¬∫√√®ÿ

μ“¡¢π“¥∑’Ë≈Ÿ°§â“μâÕß°“√Õ’°¥â«¬

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S&P SYNDICATE PUBLIC COMPANY LIMITEDANNUAL REPORT 2005

„πªï 2548 ∫√‘…—∑œ ‰¥âπ”√–∫∫∫√‘À“√§ÿ≥¿“æ∑’ˉ¥â√—∫¡“μ√∞“π “°≈ ‰¥â·°à GMP, HACCP, ISO

9001 ¡“„™â°—∫°“√º≈‘μÕ“À“√∑—Èß 4 ª√–‡¿∑¥—ß°≈à“«¢â“ßμâπ ·≈–‰¥â√—∫°“√√—∫√Õß®“°Àπ૬√—∫√Õß√–∫∫§ÿ≥¿“æ

¿“§√—∞∫“≈ ‰¥â·°à  ”π—°ß“π§≥–°√√¡°“√Õ“À“√·≈–¬“ °√–∑√«ß “∏“√≥ ÿ¢ °√¡«‘™“°“√‡°…μ√·≈–°√¡

ª√–¡ß °√–∑√«ß‡°…μ√·≈– À°√≥å μ≈Õ¥®π‰¥â√—∫°“√√—∫√Õß®“°Àπ૬ߓπ√—∫√Õߧÿ≥¿“æ¿“§‡Õ°™πÕ¬à“߇™àπ

TÜVNORD (THAILAND) CO., LTD.

5. º≈‘μ¿—≥±åÕ◊ËπÊ

5.1 ∫√‘…—∑œ ‰¥â«à“®â“ߺŸâº≈‘μ¿“¬πÕ°„Àâº≈‘μ ‘π§â“ª√–‡¿∑Õ◊ËπÊ ‡™àπ ¢â“«‡°√’¬∫°ÿâß - ª≈“ ∂—Ë«Õ∫°√Õ∫

ª≈“À¡÷°°√Õ∫ ¢π¡‰∑¬ √—ßπ° ́ ÿª‰°à °—¥ œ≈œ ¿“¬„μâ™◊ËÕ S&P ‡æ◊ËÕ®”Àπà“¬μ“¡√â“π “¢“μà“ßÊ

∑—Èßπ’È∫√‘…—∑œ ‰¥â„™â°√–∫«π°“√§—¥ √√ºŸâº≈‘μ∑’ˉ¥â§ÿ≥¿“æ·≈–¡“μ√∞“πμ“¡∑’Ë∫√‘…—∑œ °”Àπ¥

5.2 ∫√‘…—∑œ ‰¥âº≈‘μπÈ” ≈—¥ ÿ́ª·≈–´Õ μà“ßÊ ¿“¬„μâ™◊ËÕ çPatioé ‡æ◊ËÕ®”Àπà“¬∑—Èß„π√â“π “¢“·≈–

´Ÿ‡ªÕ√å¡“√å‡°μ™—Èππ”Õ’°¥â«¬

5.3  ”À√—∫º≈‘μ¿—≥±å¿“¬„μâ™◊ËÕ Vanilla ‰¥â¡’°“√æ—≤π“ ‘π§â“À≈“°À≈“¬ª√–‡¿∑‡æ◊ËÕ«“ß®”Àπà“¬

„π√â“π ‰¡à«à“®–‡ªìπº≈‘μ¿—≥±å‡∫‡°Õ√’Ë Õÿª°√≥å∑”‡∫‡°Õ√’Ë ¢Õß∑’Ë√–≈÷° ‡™àπ ‡ ◊ÈÕ¬◊¥ ºâ“°—π‡ªóôÕπ

π“Ãî°“ œ≈œ

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25

°“√∫√‘°“√

∏ÿ√°‘®°“√∫√‘°“√¢Õß∫√‘…—∑œ ·∫à߉¥â‡ªìπ 3 ª√–‡¿∑ ¥—ßπ’È

1. √â“πÕ“À“√·≈–√â“π‡∫‡°Õ√’Ë„πª√–‡∑» „Àâ∫√‘°“√¿“¬„μâ™◊ËÕ√â“πμà“ßÊ ¥—ßπ’È

1.1 S&P Restaurants - ‡ªìπ√â“πÕ“À“√∑’Ë„Àâ∫√‘°“√‡μÁ¡√Ÿª·∫∫¥â«¬Õ“À“√π“π“™π‘¥ ‡§â° ¢ÕßÀ«“π

‰Õ»°√’¡·≈–‡§√◊ËÕߥ◊Ë¡ ‚¥¬„Àâ∫√‘°“√°≈ÿà¡≈Ÿ°§â“∑’ËÀ≈“°À≈“¬ μ—Èß·μà§√Õ∫§√—« π—°‡√’¬ππ—°»÷°…“

§π∑”ß“π œ≈œ

1.2 S&P Bakery Shop - ‡ªìπ¡ÿ¡®”Àπà“¬º≈‘μ¿—≥±å‡∫‡°Õ√’Ë çS&Pé μ—ÈßÕ¬Ÿà„π»Ÿπ¬å°“√§â“™—Èππ”

´Ÿ‡ªÕ√å ‚μ√å ¥‘ ‡§“π∑å ‚μ√å ‚√ß欓∫“≈ Õ“§“√ ”π—°ß“π ·≈– ∂“π’∫√‘°“√πÈ”¡—π ´÷Ë߇ªìπ

∑”‡≈∑’Ë¡’ºŸâ∫√‘‚¿§ —≠®√‰ª¡“§—∫§—Ëß

1.3 Blue Cup - ‡ªìπ‡§“πå‡μÕ√å°“·ø®”Àπà“¬°“·ø ¥§ÿ≥¿“楒 ªí®®ÿ∫—π¡’„Àâ∫√‘°“√„π√â“π S&P

129 ®ÿ¥ πÕ°®“°π’Ȭ—߉¥â‡ªî¥√â“π Bluecup ebb and flo. ∑’ˇπâπ°“√®”Àπà“¬°“·ø·≈–™“™—Èπ¥’

®“°μà“ߪ√–‡∑»¢÷Èπ‡ªìπ “¢“·√°∑’Ë ¬“¡‡´Áπ‡μÕ√å

1.4 Patara - ‡ªìπ√â“πÕ“À“√ ÷́Ë߇®“–°≈ÿà¡≈Ÿ°§â“√–¥—∫∫π·≈–≈Ÿ°§â“™“«μà“ߪ√–‡∑» „Àâ∫√‘°“√

Õ“À“√‰∑¬∑’Ë®—¥·μàß·∫∫√à«¡ ¡—¬ ¥â«¬‡¡πŸÀ≈“°À≈“¬ ∑à“¡°≈“ß∫√√¬“°“»À√ŸÀ√“

1.5 Patio - ‡ªìπ√â“πÕ“À“√Ω√—Ëß„π∫√√¬“°“» ∫“¬Ê ‚¥¬¡’‡¡πŸÕ“À“√ ÷́Ëߧ—¥ √√·≈â« ·≈–®—¥‡ ‘√åø

Õ¬à“ß¡’ ‰μ≈å πÕ°®“°π’È ∑“ß√â“π¬—ß®”Àπà“¬º≈‘μ¿—≥±å‚Œ¡‡¡¥®”æ«° πÈ” ≈—¥ ´ÿª æ“ μâ“

´Õ √ μà“ßÊ Õ’°¥â«¬

1.6 Vanilla - ‡ªìπ√â“πÕ“À“√·≈–‡∫‡°Õ√’Ë·π«∑—π ¡—¬ ®”Àπà“¬Õ“À“√Ω√—Ëß·≈–¢π¡À«“πª√–‡¿∑

μà“ßÊ ®—¥∫√√¬“°“»√â“π‡®◊Õ°≈‘ËπÕ“¬·∫∫¬ÿ‚√ª ‡æ◊ËÕ√Õß√—∫°≈ÿà¡≈Ÿ°§â“∑’ˇªìπ§π√ÿàπ„À¡à πÕ°®“°π’È

¬—߇ªî¥ Õπ°“√∑”Õ“À“√„Àâ°—∫ºŸâ∑’Ë π„®¥â«¬ ∑—Èßπ’È ¿“¬„μâ™◊ËÕ Vanilla ®–·∫à߇ªìπ√â“πÕ“À“√

„π·π«μà“ßÊ ‡™àπ Vanilla Industry, Vanilla Restaurant ·≈– Vanilla Brasserie ‡ªìπμâπ

1.7 ¡—ß°√∑Õß ‡ªìπ√â“πÕ“À“√®’π ¡—¬„À¡à√ ™“μ‘√–¥—∫¿—μ쓧“√ æ√âÕ¡∫√‘°“√μ‘Ë¡´”√ ‡≈‘»

1.8 Grand Seaside - ‡ªìπ√â“πÕ“À“√∑–‡≈μ—ÈßÕ¬Ÿà∑’Ë·À≈¡ø“π Õ”‡¿Õ»√’√“™“ „Àâ∫√‘°“√Õ“À“√μà“ßÊ

‚¥¬‡πâπ‡¡πŸÕ“À“√∑–‡≈∑’Ë ¥  –Õ“¥ ∑à“¡°≈“ß∫√√¬“°“»™“¬∑–‡≈ ·≈–¬—ß¡’∫√‘°“√®—¥‡≈’Ȭß

 ”À√—∫·¢°®”π«π¡“°Õ’°¥â«¬

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S&P SYNDICATE PUBLIC COMPANY LIMITEDANNUAL REPORT 2005

μ“√“ß· ¥ß®”π«π “¢“√â“πÕ“À“√·≈–√â“π‡∫‡°Õ√’Ë∑—Ë«ª√–‡∑» ≥ «—π∑’Ë 31 ∏—𫓧¡ 2548 ¡’¥—ßπ’È

 “¢“„π°√ÿ߇∑æœ  “¢“μà“ß®—ßÀ«—¥ √«¡∑—Èß ‘Èπ√â“πÕ“À“√ S&P 50 26 76

√â“π‡∫‡°Õ√’Ë S&P 85 63 148

√â“πÕ“À“√ Patara 1 › 1

√â“πÕ“À“√ Patio 3 › 3

√â“πÕ“À“√ Vanilla 2 › 2

√â“πÕ“À“√¡—ß°√∑Õß 1 › 1

√â“π°“·ø Bluecup 1 › 1

√â“πÕ“À“√ Grand Seaside 1 › 1

√«¡ 144 89 233

2. √â“πÕ“À“√„πμà“ߪ√–‡∑»∫√‘…—∑ ‡Õ  ·Õπ¥å æ’ ‚°≈‡∫‘≈ ®”°—¥ ‡ªìπºŸâ∫√‘À“√√â“πÕ“À“√ “¢“¢Õ߇ՠ·Õπ¥åæ’„πμà“ߪ√–‡∑»

´÷Ëßªí®®ÿ∫—π¡’Õ¬Ÿà 18  “¢“ ¿“¬„μâ™◊ËÕμà“ßÊ ¥—ßπ’È

2.1 Patara Fine Thai Cuisine - ‡ªìπ√â“πÕ“À“√‰∑¬√à«¡ ¡—¬‡®“–°≈ÿà¡≈Ÿ°§â“√–¥—∫∫π ‚¥¬‡πâπ

§«“¡ª√–≥’μ„π°“√𔇠πÕ √ ™“μ‘¢ÕßÕ“À“√ °“√„Àâ∫√‘°“√ μ≈Õ¥®π√Ÿª·∫∫°“√μ°·μàß√â“π

Õ“À“√¢Õß√â“π çPataraé ¡’√ ™“μ‘∑’˧߇հ≈—°…≥å¢ÕßÕ“À“√‰∑¬·∑âÊ ∂÷ß·¡â®–‡ªìπ√â“πÕ“À“√

∑’Ë„Àâ∫√‘°“√·°à≈Ÿ°§â“™“«μà“ß™“μ‘

„πªï 2548 √â“πÕ“À“√ Patara  “¢“≈Õπ¥Õ𠉥â√—∫√“ß«—≈ PM Award 2005 (Prime Ministerûs

Export Award 2005) ¥â“π Best Service Provider ∑—È߬—߉¥â√—∫§”™◊Ëπ™¡ ·≈–°“√‚À«μ®“°

π‘μ¬ “√™—Èππ”μà“ßÊ «à“‡ªìπ√â“πÕ“À“√‰∑¬∑’Ë¥’∑’Ë ÿ¥„π°√ÿß≈Õπ¥Õπ

2.2 Siam Kitchen - ‡ªìπ√â“πÕ“À“√‰∑¬·∫∫‡√’¬∫ßà“¬„π ‘ߧ‚ª√å ‡πâπÕ“À“√®“π‡¥’¬« ∑”‡≈∑’Ëμ—Èß

 à«π„À≠à®–Õ¬Ÿàμ“¡Àâ“ß √√æ ‘π§â“„π·À≈àß™ÿ¡™π ‡æ◊ËÕ “¡“√∂‡¢â“∂÷ߺŸâ∫√‘‚¿§‰¥âßà“¬ °“√

μ°·μàß√â“π„™â√Ÿª·∫∫∑—π ¡—¬ ·μà·Ωߧ«“¡‡ªìπ‰∑¬¥â«¬«— ¥ÿÕÿª°√≥å∑’Ë„™â  ¬“¡§‘∑‡™àπ¡’°“√

¢¬“¬μ—«Õ¬à“ß√«¥‡√Á« ·≈–‰¥â√—∫§«“¡π‘¬¡‡ªìπÕ¬à“ß¡“° ÷́Ëß∑“ß√â“π‰¥â√—∫‡§√◊ËÕßÀ¡“¬√—∫√Õß

Œ“≈“≈ (Halal) ∑”„Àâ “¡“√∂„Àâ∫√‘°“√≈Ÿ°§â“™“«¡ÿ ≈‘¡∑’Ë¡’Õ¬Ÿà‡ªìπ®”π«π¡“°„π ‘ߧ‚ª√å

2.3 Thaï - ‡ªìπ√â“πÕ“À“√‰∑¬·π«√à«¡ ¡—¬Õ¬Ÿà„π°√ÿ߇®π’«“ ª√–‡∑» «‘μ‡´Õ√å·≈π¥å ‡πâπ‡¡πŸ

Õ“À“√‰∑¬º ¡μ–«—πμ° μ°·μàß√â“π„π·π«À√ŸÀ√“ ‡®◊Õ°≈‘ËπÕ“¬§«“¡‡ªìπ‰∑¬¥â«¬«— ¥ÿμ°·μàß

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27

2.4 Patio - ‡ªìπ√â“πÕ“À“√Ω√—Ëß√à«¡ ¡—¬„π∫√√¬“°“» ∫“¬Ê ‡¡πŸ‡πâπÕ“À“√μ–«—πμ°∑’˧—¥ √√·≈â«

‚¥¬¡’‡¡πŸÕ“À“√‰∑¬∫“ß√“¬°“√´÷Ë߇ªìπ∑’Ë™◊Ëπ™Õ∫¢Õß™“«μà“ߪ√–‡∑» μ°·μàß√â“π„π·∫∫‡√’¬∫ßà“¬

·≈–„™â«— ¥ÿμ°·μàß√â“π®“°ª√–‡∑»‰∑¬‡æ◊ËÕ· ¥ß‡Õ°≈—°…≥å¢Õߧ«“¡‡ªìπ‰∑¬

μ“√“ß· ¥ß®”π«π “¢“√â“πÕ“À“√μà“ߪ√–‡∑» ≥ «—π∑’Ë 31 ∏—𫓧¡ 2548 ¡’¥—ßπ’È

ª√–‡∑» ª√–‡∑» ª√–‡∑» ª√–‡∑»√«¡∑—Èß ‘Èπ

Õ—ß°ƒ…  «‘μ‡´Õ√å·≈π¥å  ‘ߧ‚ª√å ‰μâÀ«—π

√â“πÕ“À“√ Patara 4 1 2 1 8

√â“πÕ“À“√ Patio 2 2

√â“πÕ“À“√ Siam Kitchen 7 7

√â“πÕ“À“√ THAI 1 1

√«¡ 4 2 9 3 18

3. ∫√‘°“√®—¥ àßÕ“À“√∂÷ß∫â“π·≈–®—¥‡≈’ȬßπÕ° ∂“π∑’Ë3.1 ∫√‘…—∑œ „Àâ∫√‘°“√®—¥ àßÕ“À“√∂÷ß∫â“π ‚¥¬≈Ÿ°§â“ “¡“√∂‚∑√»—æ∑剪¬—ßÀ¡“¬‡≈¢„À¡à §◊Õ ç1344é

( ”À√—∫‡¢μ°√ÿ߇∑æ¡À“π§√ ª√‘¡≥±≈ ·≈–μà“ß®—ßÀ«—¥) ‡æ◊ËÕ —ËßÕ“À“√·≈–º≈‘μ¿—≥±åμà“ßÊ ¢Õß

S&P πÕ°®“°π’È∫√‘…—∑œ ¬—ß„Àâ∫√‘°“√Õ“À“√ªîòπ‚μ ´÷Ëß¡’√“¬°“√Õ“À“√∑’Ë ≈—∫ —∫‡ª≈’ˬπÀ¡ÿπ‡«’¬π

°—π‰ª ªí®®ÿ∫—π∫√‘°“√®—¥ àßÕ“À“√∂÷ß∫â“π‰¥â√—∫§«“¡π‘¬¡®“°≈Ÿ°§â“‡ªìπÕ¬à“ß¡“° ¡’ºŸâ∫√‘‚¿§„™â

∫√‘°“√‡ªìπ®”π«π°«à“ 1,000 √“¬°“√μàÕ«—π „πªï 2549 ∫√‘…—∑œ ¡’·ºπ®–¢¬“¬æ◊Èπ∑’Ë°“√®—¥ àß

‡æ◊ËÕμÕ∫ πÕߧ«“¡μâÕß°“√¢ÕߺŸâ∫√‘‚¿§„Àâ°«â“ߢ«“ß¡“°¢÷Èπ

3.2 ∫√‘…—∑œ ¡’∫√‘°“√®—¥‡≈’ȬßπÕ° ∂“π∑’Ë∑ÿ°ª√–‡¿∑ μ—Èß·μàß“π·μàßß“π ß“π«—π‡°‘¥ ß“πª√–™ÿ¡

 —¡¡π“μà“ßÊ μ≈Õ¥®π°“√®—¥Õ“À“√°≈àÕß ”À√—∫°“√‡¥‘π∑“ßÀ√◊Õ —π∑π“°“√ ·≈–ß“π «¥

æ√–Õ¿‘∏√√¡ ‚¥¬‡ªìπ°“√„Àâ∫√‘°“√·∫∫§√∫«ß®√®“°∫√‘°√∑’Ë¡’§«“¡™”π“≠ æ√âÕ¡∫√‘°“√®—¥‚μä–

®—¥¥Õ°‰¡â ·≈–®—¥‡μ√’¬¡Õÿª°√≥凧√◊ËÕß„™â∑’Ë®”‡ªìπ ”À√—∫ß“π‡≈’È¬ß ªí®®ÿ∫—π∫√‘°“√®—¥‡≈’Ȭߡ’°≈ÿà¡

≈Ÿ°§â“ ‡™àπ Àπ૬ߓπ√“™°“√ √—∞«‘ “À°‘® ∫√‘…—∑‡Õ°™π  ∂“π∑Ÿμ œ≈œ

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28

S&P SYNDICATE PUBLIC COMPANY LIMITEDANNUAL REPORT 2005

°“√μ≈“¥

π‚¬∫“¬°“√μ≈“¥∑’Ë∫√‘…—∑œ ¬÷¥∂◊Õ‡ªìπª√—™≠“À≈—°„π°“√¥”‡π‘πß“π‡ ¡Õ¡“ §◊Õ °“√ √â“ߧ«“¡æ÷ßæÕ„®

„Àâ·°à≈Ÿ°§â“ ·≈–„Àâ≈Ÿ°§â“μ√–Àπ—°∂÷ß™◊ËÕ¢Õß S&P ‡¡◊ËÕπ÷°∂÷ßÕ“À“√·≈–‡∫‡°Õ√’Ë∑’Ë¡’§ÿ≥¿“æ·≈–∫√‘°“√Õ—πÕ∫Õÿàπ

πà“ª√–∑—∫„®  ¡°—∫§”¢«—≠ 纟â„Àâ∫√‘°“√™—Èπ¬Õ¥ ·≈–º≈‘μ¿—≥±å™—Èπ‡¬’Ë¬¡é (Super Service & Premium Products)

„π·«¥«ßÕ“À“√·≈–‡∫‡°Õ√’Ë¢Õ߇¡◊Õ߉∑¬ °≈¬ÿ∑∏å∑“ß°“√μ≈“¥¢Õß∫√‘…—∑·∫à߉¥â‡ªìπ 4 ª√–‡¿∑¥—ßπ’È

1. º≈‘μ¿—≥±å·≈–∫√√®ÿ¿—≥±å∫√‘…—∑œ ‰¥âæ—≤π“º≈‘μ¿—≥±å„À¡àÊ ∑—Èß∑“ߥâ“πÕ“À“√·≈–‡∫‡°Õ√’ËÕ¬à“ßμàÕ‡π◊ËÕß ‡æ◊ËÕμÕ∫ πÕߧ«“¡

μâÕß°“√ ·≈–«‘∂’™’«‘μ¢ÕߺŸâ∫√‘‚¿§∑’ˇª≈’ˬπ·ª≈ßÕ¬Ÿàμ≈Õ¥ μ—«Õ¬à“ߢÕߺ≈‘μ¿—≥±å„À¡àÊ ∑’Ëæ—≤π“¢÷Èπ„πªï 2548

°Á‰¥â·°à ·∫≈Á§ø≈Õ‡√ μå¥√’¡‚√≈ §ÿ°°’Èæ√’‡¡’¬¡ (√ ™’  ∫—μ‡μÕ√å·¬¡√‘ß Õ—≈¡Õπ¥å ™ÁÕ°‚°·≈μ™‘æ ·≈–Õ—≈¡Õπ¥å∫Õ≈)

‰ â°√Õ°§≈“  ‘§ (§ÁÕ°‡∑≈ ŒÕ∑¥ÁÕ° ‡«’¬ππ“) ‡∫§Õπ Õ“À“√ ”‡√Á®√Ÿª·™à·¢Áß ç‡∑ μ’È ¡’≈é (Tasty meal)

º≈‘μ¿—≥±å‡®≈≈’Ë ”‡√Á®√Ÿªμ√“ 燮≈‘‚Õé (Jelio) ‡ªìπμâπ

πÕ°®“°π’È ∫√‘…—∑œ ¬—߉¥â𔇠πÕº≈‘μ¿—≥±å¿“¬„μâ™◊ËÕÕ◊ËππÕ°‡Àπ◊Õ®“°™◊ËÕ S&P ÷́Ë߉¥â·°à Patio,

Vanilla ·≈– Delio ‡æ◊ËÕ‡ªìπ°“√¢¬“¬∞“π‰ª Ÿà°≈ÿà¡≈Ÿ°§â“„À¡àÊ Õ’°¥â«¬

∑“ߥâ“π∫√√®ÿ¿—≥±å ∫√‘…—∑œ ¬—ߧߡÿà߇πâπ°“√æ—≤π“∫√√®ÿ¿—≥±å„Àâ∑—π ¡—¬·≈– «¬ß“¡ ‡æ◊ËÕ„Àâ

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´÷Ëß∫√√®ÿ¿—≥±å„πªï 2548 ∑’ˉ¥â√—∫°“√μÕ∫√—∫®“°ºŸâ∫√‘‚¿§‡ªìπÕ¬à“ߥ’ ‰¥â·°à º≈‘μ¿—≥±å Cookie Kids ¢π¡‰À«â

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Thai ·≈– Patio

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29

3.3 ∫√‘°“√®—¥ àß∂÷ß∫â“π·≈–®—¥‡≈’ȬßπÕ° ∂“π∑’Ë „Àâ∫√‘°“√√—∫ —ËßÕ“À“√ºà“π‡≈¢À¡“¬‚∑√»—æ∑å„À¡à

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S&P SYNDICATE PUBLIC COMPANY LIMITEDANNUAL REPORT 2005

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ª√–°Õ∫°—∫Õ“À“√ ”‡√Á®√Ÿª·™à·¢Áß„πªí®®ÿ∫—π¡’°“√æ—≤π“√ ™“μ‘ §«“¡ –Õ“¥ª≈Õ¥¿—¬ ·≈–¡’ª√–‡¿∑„Àâ‡≈◊Õ°¡“°¢÷Èπ

®÷ߥ÷ߥŸ¥„Àâ§πÀ—π¡“π‘¬¡¡“°¢÷Èπμ“¡‰ª¥â«¬ ªí®®—¬Õ’°¢âÕÀπ÷Ëß∑’ˇÕ◊ÈÕμàÕ°“√‡μ‘∫‚μ¢Õßμ≈“¥Õ“À“√ ”‡√Á®√Ÿª·™à·¢Áß

°Á§◊Õ Õÿª°√≥åÕ”π«¬§«“¡ –¥«°„π§√—«‡√◊Õ𠇙àπ μŸâ‡¬Áπ ·≈–‡μ“‰¡‚§√‡«ø ‰¥â°≈“¬‡ªìπ‡§√◊ËÕß„™â®”‡ªìπ∑’Ë„™â°—π

Õ¬à“ß·æ√àÀ≈“¬°«à“·μà°àÕπ¡“° ®÷ߙ૬„Àâ°“√∫√‘‚¿§Õ“À“√ ”‡√Á®√Ÿª·™à·¢Á߉¡à‡ªìπ‡√◊ËÕ߬ÿà߬“°Õ’°μàÕ‰ª

®“°‡Àμÿº≈¥—ß°≈à“«¢â“ßμâπ®÷ß àß„ÀâÕ—μ√“°“√¢¬“¬μ—«¢Õß∏ÿ√°‘®Õ“À“√ ”‡√Á®√Ÿª·™à·¢Á߇æ‘Ë¡¢÷ÈπÕ¬à“ß

μàÕ‡π◊ËÕß πÕ°®“°°“√¢¬“¬μ—«¢Õßμ≈“¥„πª√–‡∑»·≈â« ∫√‘…—∑œ ¬—߇≈Á߇ÀÁπ≈Ÿà∑“ß°“√ àßÕÕ°Õ“À“√ ”‡√Á®√Ÿª·™à·¢Áß

‰ª¬—ßμ≈“¥μà“ߪ√–‡∑»Õ’°¥â«¬ ‚¥¬„πªï æ.». 2548 ∫√‘…—∑œ ‰¥â‡æ‘Ë¡°”≈—ß°“√º≈‘μ ‘π§â“Õ“À“√ ”‡√Á®√Ÿª·™à·¢Áß

μ≈Õ¥®π»÷°…“∂÷ߧ«“¡™Õ∫¢ÕߺŸâ∫√‘‚¿§™“«μà“ß™“μ‘ ·≈–∑ÿࡇ∑æ—≤π“ ‘π§â“‡æ◊ËÕº≈—°¥—π„Àâ ‘π§â“Õ“À“√ ”‡√Á®√Ÿª

·™à·¢ÁߢÕß∫√‘…—∑œ ‡ªìπ∑’ˇ™◊ËÕ∂◊Õ¢ÕߺŸâ∫√‘‚¿§„πμà“ߪ√–‡∑» ‡À¡◊Õπ‡™àπ∑’Ë∑” ”‡√Á®¡“·≈â«„πª√–‡∑»‰∑¬

°“√«‘®—¬·≈–æ—≤π“

∫√‘…—∑œ „™âπ‚¬∫“¬°“√æ—≤π“º≈‘μ¿—≥±å„π‡™‘ß√ÿ°¡“‚¥¬μ≈Õ¥ ‡æ◊ËÕ πÕßμÕ∫μàÕ§«“¡μâÕß°“√¢Õß≈Ÿ°§â“

·≈–°â“«„Àâ∑—π ¿“æμ≈“¥∑’Ë¡’°“√·¢àߢ—π Ÿß ¥—ßπ—Èπ°“√«‘®—¬·≈–æ—≤π“º≈‘μ¿—≥±å®÷߇ªìπß“π∑’Ë∫√‘…—∑œ „À⧫“¡ ”§—≠

‡ªìπÕ¬à“ß¡“° ∫√‘…—∑œ ¡’æπ—°ß“π ÷́Ëß®∫°“√»÷°…“∑“ߥâ“π«‘∑¬“»“ μ√å°“√Õ“À“√ ‚¿™π“°“√ ·≈–§À°√√¡»“ μ√å

∑√—欓°√∫ÿ§§≈‡À≈à“π’ș૬‡ √‘¡„Àâ∫√‘…—∑œ æ—≤π“º≈‘μ¿—≥±å„À¡àÊ ´÷Ë߉¡à‡æ’¬ß¡’√ ™“μ‘∑’ËÕ√àÕ¬∂Ÿ°ª“° ·μଗߡ’

§ÿ≥§à“Õ“À“√ æ√âÕ¡§«“¡ –Õ“¥ª≈Õ¥¿—¬Õ’°¥â«¬

„πªï 2548 ∫√‘…—∑œ ¡’º≈‘μ¿—≥±å„À¡àÊ ÕÕ° Ÿà∑âÕßμ≈“¥¡“°¡“¬ Õ“∑‘‡™àπ Õ“À“√·™à·¢Áß¿“¬„μâ™◊ËÕ Quick

Meal ·≈– Delio Tasty Meal º≈‘μ¿—≥±å‡®≈≈’Ë ·≈–æÿ¥¥‘Èß ¿“¬„μâ™◊ËÕ Jelio ¢π¡Õ∫√ ™“μ‘„À¡à √«¡∂÷߇§â°∑’Ë„™â

≈«¥≈“¬°“√åμŸπ≈‘¢ ‘∑∏‘Ï¢Õß Disney º≈‘μ¿—≥±å®”æ«° ÿ́ª πÈ” ≈—¥ ·≈–´Õ  ¿“¬„μâ™◊ËÕ Patio º≈‘μ¿—≥±å‡∫‡°Õ√’Ë

Õÿª°√≥å°“√∑”‡∫‡°Õ√’Ë·≈–¢Õß∑’Ë√–≈÷°¿“¬„μâ™◊ËÕ Vanilla œ≈œ

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S&P SYNDICATE PUBLIC COMPANY LIMITEDANNUAL REPORT 2005

‚§√ß°“√„πÕπ“§μ

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‡π◊ËÕß®“°√“¬‰¥âÀ≈—°¢Õß∫√‘…—∑œ ¡“®“°√â“πÕ“À“√·≈–‡∫‡°Õ√’Ë™ÁÕ懪ìπ à«π„À≠à ¥—ßπ—Èπ °“√¢¬“¬ “¢“

„π∑”‡≈∑’ˇÀ¡“– ¡®÷߇ªìπ‡ªÑ“À¡“¬ ”§—≠ª√–°“√Àπ÷Ëß ∫√‘…—∑œ «“ß·ºπ®–¢¬“¬√â“π “¢“ ·≈–‡∫‡°Õ√’Ë™ÁÕæÕÕ°‰ª

„π∑”‡≈∑’Ë¡’°≈ÿࡇªÑ“À¡“¬ —≠®√‰ª¡“§—∫§—Ëß ‡™àπ »Ÿπ¬å°“√§â“™—Èππ” Ÿ́‡ªÕ√å¡“√å‡°μ ¥‘ ‡§“π∑å ‚μ√å ‚√ß欓∫“≈

Õ“§“√ ”π—°ß“π ·≈– ∂“π’∫√‘°“√πÈ”¡—π ‚¥¬∑”‡≈∑’Ëμ—Èß®–§√Õ∫§≈ÿ¡∑—Èß„π‡¢μ°√ÿ߇∑æ¡À“π§√ ·≈–®—ßÀ«—¥

 ”§—≠Ê  ”À√—∫·ºπ°“√„πªï 2549 ∫√‘…—∑œ §“¥«à“®–‡ªî¥√â“πÕ“À“√ “¢“Õ’° 10 ·Ààß ·≈–‡∫‡°Õ√’Ë™ÁÕæÕ’°

25 ·Ààß √«¡∑—È߬—ß¡’·ºπ°“√ª√—∫ª√ÿßμ°·μàß√â“π “¢“∑’Ë¡’Õ¬Ÿà‡¥‘¡„Àâ∑—π ¡—¬  Õ¥§≈âÕß°—∫°≈ÿà¡≈Ÿ°§â“„π∑”‡≈μà“ßÊ

Õ’°¥â«¬

„π à«π¢Õß “¢“μà“ߪ√–‡∑» ∫√‘…—∑œ ¡’π‚¬∫“¬∑’Ë®–¢¬“¬√â“πÕ“À“√ “¢“„πμà“ߪ√–‡∑»∑’Ë¡’ “¢“¢Õß

∫√‘…—∑œ Õ¬Ÿà·≈⫇æ‘Ë¡¢÷Èπ ·≈–«“ß·ºπ®–‡ªî¥μ≈“¥„À¡àÊ „πª√–‡∑»∑’ˬ—߉¡à¡’√â“πÕ“À“√ “¢“¥â«¬

°“√¢¬“¬‚√ßß“π

‚√ßß“πº≈‘μ‡∫‡°Õ√’Ë

∫√‘…—∑œ ‰¥â √â“ßÕ“§“√‚√ߺ≈‘μ‰ â¢π¡™π‘¥‡§Á¡·≈–À«“π¢÷Èπ∑’Ë‚√ßß“π∫“ßπ“-μ√“¥ Õ“§“√¥—ß°≈à“«‡ªìπ

Õ“§“√∑’Ë∑—π ¡—¬ ¡’æ◊Èπ∑’Ë 1,300 μ“√“߇¡μ√ ∂Ÿ° ÿ¢≈—°…≥–μ“¡¡“μ√∞“π GMP (Good Manufacturing Practice)

 “¡“√∂√Õß√—∫°“√®—¥∑”√–∫∫ HACCP (Hazard Analysis Critical Control Point) „πÕπ“§μ‰¥â Õ“§“√¥—ß°≈à“«

 “¡“√∂º≈‘μ‰ â¢π¡™π‘¥‡§Á¡·≈–À«“π‡æ◊ËÕªÑÕπ„Àâ “¬°“√º≈‘μ擬·™à·¢Á߉¥â∂÷ß 1,600 μ—πμàÕªï

πÕ°®“°π’È ‡æ◊ËÕ¬°√–¥—∫§ÿ≥¿“æ¢Õß ‘π§â“ ∫√‘…—∑œ ¬—ß à߇ √‘¡„Àâ®—¥∑”√–∫∫§ÿ≥¿“æμà“ßÊ ¥—ßπ’È

1. °“√¢¬“¬¢Õ∫¢à“¬ °“√μ√«® Õ∫∑“ßÀâÕߪؑ∫—μ‘°“√ (ISO/IEC 17025)

2. °“√®—¥∑”√–∫∫ BRC (British Retail Concortium) √–∫∫§ÿ≥¿“æ ”À√—∫∏ÿ√°‘® ‘π§â“Õ“À“√§â“ª≈’°

‡æ◊ËÕ√Õß√—∫°“√ àß ‘π§â“‰ª®”Àπà“¬¬—ߪ√–‡∑»Õ—ß°ƒ…

3. °“√®—¥∑”√–∫∫§ÿ≥¿“æ ISO 22000 Requirements for a Food Safety Management System

‚√ßß“πº≈‘μÕ“À“√

„πªï 2548 ∫√‘…—∑œ ‰¥â≈ß∑ÿπ √â“ßÕ“§“√º≈‘μÕ“À“√À≈—ß„À¡à ‚¥¬¡’‡ªÑ“À¡“¬∑’Ë®–¢¬“¬°”≈—ß°“√º≈‘μ

º≈‘μ¿—≥±åÕ“À“√ ”‡√Á®√Ÿª·™à·¢Á߇æ◊ËÕ°“√ àßÕÕ°‡ªìπÀ≈—° ‚¥¬Õ“§“√º≈‘μÀ≈—ß„À¡àπ’È¡’æ◊Èπ∑’Ë„™â Õ¬ª√–¡“≥ 6,000

μ“√“߇¡μ√ ·≈–®–‡√‘Ë¡¥”‡π‘π°“√º≈‘쉥â„π‡¥◊Õπ¡’π“§¡ 2549

Õπ÷Ëß „πªï 2549 ∫√‘…—∑œ ¡’π‚¬∫“¬ à߇ √‘¡·≈–æ—≤π“μ≈“¥ àßÕÕ° ΩÉ“¬‚√ßß“π®÷߉¥â°”À𥂧√ß°“√

æ—≤π“√–∫∫∫√‘À“√§ÿ≥¿“æ·≈–§«“¡ª≈Õ¥¿—¬Õ¬à“ßμàÕ‡π◊ËÕß ‚¥¬¡ÿà߇πâ𧫓¡ª≈Õ¥¿—¬·≈–§ÿ≥¿“æÕ“À“√∑’ˇªìπ

∑’ËæÕ„®¢Õß≈Ÿ°§â“·≈–ºŸâ∫√‘‚¿§ √«¡∂÷ߧ«“¡ª≈Õ¥¿—¬·≈–§ÿ≥¿“æ¢Õß ‘Ëß·«¥≈âÕ¡ ·≈–Õ“™’«Õπ“¡—¬¢ÕߺŸâªØ‘∫—μ‘ß“π

„π‚√ßß“π„Àâ¡’¡“μ√∞“π‡∑’¬∫‡∑à“√–¥—∫ “°≈ ‰¥â·°à ISO 22000 ISO 14001 OHSAS 18001

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33

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1. §«“¡‡ ’ˬß∑’ˇ°’ˬ«‡π◊ËÕß°—∫π‚¬∫“¬√—∞∫“≈

„πªï∑’˺à“π¡“√—∞∫“≈‰¥â≈ßπ“¡„π —≠≠“‡ªî¥‡¢μ°“√§â“‡ √’°—∫À≈“¬ª√–‡∑» ÷́Ëß°“√‡ªî¥‡¢μ°“√§â“‡ √’π’È

°Á¡’ à«π∑’Ë àߺ≈°√–∑∫μàÕºŸâº≈‘μ ‘π§â“ª√–‡¿∑Õ“À“√ ”‡√Á®√Ÿª ·≈–¢π¡¢∫‡§’Ȭ«¿“¬„πª√–‡∑»Õ¬Ÿà∫â“ßæÕ ¡§«√

‡æ√“–¡’°“√π”‡¢â“ ‘π§â“¥—ß°≈à“«‡æ‘Ë¡¡“°¢÷Èπ·≈– “¡“√∂®”Àπà“¬„π√“§“∑’Ë∂Ÿ°≈ß Õ¬à“߉√°Á¥’ ‡æ◊ËÕ√—°…“ à«π·∫àß

∑“ß°“√μ≈“¥ ∫√‘…—∑œ ®÷ß欓¬“¡À“∑“ß≈¥μâπ∑ÿπ æ—≤π“§ÿ≥¿“æ¢Õß ‘π§â“Õ¬à“ßμàÕ‡π◊ËÕß æ—≤π“º≈‘μ¿—≥±å·≈–

∫√‘°“√„À¡àÊ μ≈Õ¥®π„À⧫“¡ ”§—≠°—∫°“√ÕÕ°·∫∫∫√√®ÿ¿—≥±å„Àâ∑—π ¡—¬  «¬ß“¡ ‡À¡“– ¡°—∫ª√–‚¬™πå„™â Õ¬

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2. §«“¡‡ ’ˬß∑’ˇ°’ˬ«°—∫μâπ∑ÿπ°“√º≈‘μ

√“§“ ‘π§â“ª√–‡¿∑μà“ßÊ „π√Õ∫ªï 2548 ‰¥âª√—∫μ—«¢÷ÈπÕ¬à“ß¡“°  à«πÀπ÷Ë߇ªìπº≈¡“®“°√“§“πÈ”¡—π„π

μ≈“¥‚≈°ª√—∫μ—« Ÿß¢÷Èπ «—μ∂ÿ¥‘∫∑’Ë∫√‘…—∑œ „™â„π°“√º≈‘μÀ≈“¬√“¬°“√®÷ß¡’°“√ª√—∫√“§“ Ÿß¢÷Èπ‡™àπ°—π ‡æ◊ËÕªÑÕß°—π

§«“¡‡ ’ˬß∑’ˇ°’ˬ«°—∫μâπ∑ÿπ°“√º≈‘μ ∫√‘…—∑œ ®÷ß„™â«‘∏’®—¥´◊ÈÕ«—μ∂ÿ¥‘∫®“°ºŸâ®”Àπà“¬À≈“¬√“¬ ‡æ◊ËÕ„Àâ¡—Ëπ„®«à“®–¡’

«—μ∂ÿ¥‘∫‡æ’¬ßæÕ ”À√—∫°“√º≈‘μμ“¡·ºπ°“√∑’Ë«“߉«â ·≈–∫√‘À“√°“√º≈‘μ„Àâ ‰¥âª√– ‘∑∏‘¿“æ Ÿß ÿ¥ ‡æ◊ËÕ√—∫¡◊Õ°—∫

√“§“μâπ∑ÿπ«—μ∂ÿ¥‘∫∑’ËÕ“®®–ª√—∫ Ÿß¢÷Èπ ∑”„Àâ∫√‘…—∑œ ®÷߬—ߧߠ“¡“√∂√—°…“√–¥—∫º≈°”‰√„À⇪ìπ∑’Ëπà“æÕ„®‰¥âÕ¬à“ß

μàÕ‡π◊ËÕß

3. §«“¡‡ ’ˬ߮“°§«“¡º—πº«π¢ÕßÕ—μ√“·≈°‡ª≈’ˬπ

∫√‘…—∑œ ¡’√“¬‰¥â®“°°“√¥”‡π‘π∏ÿ√°‘®√â“πÕ“À“√‰∑¬„πμà“ߪ√–‡∑» ·≈–°“√ àßÕÕ°º≈‘μ¿—≥±åÕ“À“√

 ”‡√Á®√Ÿª·™à·¢Áß §‘¥‡ªìπ√âÕ¬≈– 19 ¢Õß√“¬‰¥â√«¡ ÷́ËßÕ¬Ÿà„π√Ÿª‡ß‘πμ√“μà“ߪ√–‡∑» °ÿ≈ ”§—≠Ê À≈“¬ °ÿ≈

Õ¬à“߉√°Á¥’ ∫√‘…—∑œ ‰¥âªÑÕß°—𧫓¡‡ ’ˬ߮“°§«“¡º—πº«π¢ÕßÕ—μ√“·≈°‡ª≈’Ë¬π‚¥¬„™—À≈—°∫√‘À“√Õ—μ√“·≈°‡ª≈’ˬπ

·∫∫ Natural Hedge ·≈–°“√ ◊́ÈÕ¢“¬‡ß‘πμ√“μà“ߪ√–‡∑»≈à«ßÀπâ“

4. §«“¡‡ ’ˬ߮“°°“√μàÕÕ“¬ÿ —≠≠“‡™à“°—∫‡®â“¢Õßæ◊Èπ∑’Ë

∫√‘…—∑œ „™âπ‚¬∫“¬‡™à“æ◊Èπ∑’ˇæ◊ËÕ‡ªî¥‡ªìπ√â“πÕ“À“√·≈–‡∫‡°Õ√’Ë™ÁÕæ ·≈–‡πâπ°“√‡≈◊Õ°∑”‡≈∑’Ë¡’ºŸâ§π§—∫§—Ëß

‚¥¬‡Àμÿ∑’Ë∫√‘…—∑œ ¡’™◊ËÕ‡ ’¬ß‡ªìπ∑’ˬա√—∫„π∏ÿ√°‘®π’È¡“¬“«π“π°«à“ 30 ªï ·≈– ‘π§â“¢Õß∫√‘…—∑œ °Á‡ªìπ∑’Ë√Ÿâ®—°Õ¬à“ß

°«â“ߢ«“ß„πÀ¡ŸàºŸâ∫√‘‚¿§  àߺ≈„À⇮ⓢÕßæ◊Èπ∑’ˬ‘π¥’μÕ∫√—∫°“√¢Õ‡™à“®“°∫√‘…—∑œ ·≈–„Àâ‡ß◊ËÕπ‰¢°“√‡™à“∑’Ë¥’°«à“

®÷ß∑”„Àâ‚Õ°“ ∑’Ë®–‰¡à‰¥â√—∫°“√μàÕÕ“¬ÿ —≠≠“ À√◊ÕºŸâ„Àâ‡™à“®–¢Õ‡ª≈’ˬπ·ª≈ß√“¬≈–‡Õ’¬¥ —≠≠“°“√‡™à“¡’πâÕ¬¡“°

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S&P SYNDICATE PUBLIC COMPANY LIMITEDANNUAL REPORT 2005

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105 ≈â“πÀÿâπ ¡Ÿ≈§à“∑’Ëμ√“‰«âÀÿâπ≈– 5 ∫“∑ ‡ªìπ∑ÿπ‡√’¬°™”√–·≈â«®”π«π 434,769,000 ∫“∑ ·∫à߇ªìπÀÿâπ “¡—≠

®”π«π 86,953,800 Àÿâπ ¡Ÿ≈§à“∑’Ëμ√“‰«âÀÿâπ≈– 5 ∫“∑

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∑’˪√–™ÿ¡ºŸâ∂◊ÕÀÿâπ«‘ “¡—≠§√—Èß∑’Ë 1/2544 ‡¡◊ËÕ«—π∑’Ë 20 °—𬓬π 2544 ‰¥âÕπÿ¡—μ‘°“√ÕÕ°Àÿâπ “¡—≠„À¡à

®”π«π 10 ≈â“πÀÿâπ ¡Ÿ≈§à“∑’Ëμ√“‰«âÀÿâπ≈– 5 ∫“∑ ‡ πÕ¢“¬„Àâ°—∫ª√–™“™π∑—Ë«‰ª‡√’¬∫√âÕ¬·≈â« ·≈–Õπÿ¡—μ‘°“√

ÕÕ°„∫ ”§—≠· ¥ß ‘∑∏‘„Àâ°—∫ºŸâ∂◊ÕÀÿâπ‡¥‘¡∑’Ë¡’∫—≠™’√“¬™◊ËÕ„π ¡ÿ¥∑–‡∫’¬πºŸâ∂◊ÕÀÿâπ«—π∑’Ë 10 μÿ≈“§¡ 2544 ®”π«π

30 ≈â“πÀπ૬ ·≈–„Àâ°—∫ª√–™“™π∑’ˉ¥â´◊ÈÕÀÿâπ “¡—≠‡æ‘Ë¡∑ÿπ„À¡à¢Õß∫√‘…—∑œ ¥—ß°≈à“«Õ’°®”π«π 5 ≈â“πÀπ૬

‚¥¬„∫ ”§—≠· ¥ß ‘∑∏‘ 1 Àπ૬ ®–‰¥â√—∫Àÿâπ “¡—≠®”π«π 1 Àÿâπ ¡Ÿ≈§à“∑’Ëμ√“‰«âÀÿâπ≈– 5 ∫“∑ ‡¡◊ËÕ¡’°“√„™â ‘∑∏‘

„∫ ”§—≠· ¥ß ‘∑∏‘∑’Ë√“§“„™â ‘∑∏‘ 18 ∫“∑μàÕÀÿâπ

∫√‘…—∑œ ®÷ß¡’æ—π∏–ºŸ°æ—π„π°“√ÕÕ°Àÿâπ “¡—≠ ”√Õ߉«â  √ÿª‰¥â¥—ßπ’È

 ”√Õ߉«â‡æ◊ËÕ√Õß√—∫°“√„™â ‘∑∏‘„∫ ”§—≠· ¥ß ‘∑∏‘∑’ˇ πÕ¢“¬„Àâ°—∫ºŸâ∂◊ÕÀÿâπ‡¥‘¡ ®”π«π 30,000,000 Àÿâπ

 ”√Õ߉«â‡æ◊ËÕ√Õß√—∫°“√„™â ‘∑∏‘„∫ ”§—≠· ¥ß ‘∑∏‘∑’ˇ πÕ¢“¬„Àâ°—∫ª√–™“™π„π§√—Èßπ’È ®”π«π 5,000,000 Àÿâπ

√«¡Àÿâπ “¡—≠ ”√Õ߉«â ®”π«π 35,000,000 Àÿâπ

®”π«πÀÿâπ∑’Ë®—¥ √√‡æ◊ËÕ√Õß√—∫°“√„™â ‘∑∏‘®π∂÷ß ≥ «—π∑’Ë 9 ¡°√“§¡ 2549 ·≈â« ®”π«π 16,953,800 Àÿâπ

¬Õ¥§ß‡À≈◊Õ¢Õß®”π«πÀÿâπ “¡—≠ ”√Õ߉«â ®”π«π 18,046,200 Àÿâπ

Page 26: S&P : Annual Report 2005

35

°≈ÿࡺŸâ∂◊ÕÀÿâπ√“¬„À≠à 10 √“¬·√°

√“¬™◊ËÕºŸâ∂◊ÕÀÿâπ√“¬„À≠à 10 √“¬·√° ∑’˪√“°Ø„π ¡ÿ¥∑–‡∫’¬πºŸâ∂◊ÕÀÿâπ ≥ «—π∑’Ë 9 ¡°√“§¡ 2549 ¡’¥—ßπ’È

°≈ÿࡺŸâ∂◊ÕÀÿâπ ®”π«πÀÿâπ √âÕ¬≈–

1 °≈ÿà¡»‘≈“ÕàÕπ ·≈–°≈ÿࡉ√«“ 38,600,222 44.39

2 ∫√‘…—∑ »Ÿπ¬å√—∫Ω“°À≈—°∑√—æ¬å (ª√–‡∑»‰∑¬) ®”°—¥ ‡æ◊ËÕºŸâΩ“° 31,225,624 35.91

3 THAILAND SECURITIES DEPOSITORY COMPANY

LIMITED FOR DEPOSITORS 9,408,940 10.82

4 π“ß ÿ¿“æ√√≥ æ‘™—¬√≥√ߧå ß§√“¡ 2,469,000 2.84

5 ∫√‘…—∑ °√ÿ߇∑æª√–°—π¿—¬ ®”°—¥ (¡À“™π) 606,600 0.07

6 π“ß®ÿÓ¡≥’ ®—°√æ—π∏ÿå ≥ Õ¬ÿ∏¬“ 500,000 0.58

7 π“߇æ™√®—π∑√å μ‘√≥ «— ¥‘Ï 250,658 0.29

8 ∫√‘…—∑ ‰μ√¿√“¥“ ®”°—¥ 216,446 0.25

9 π“¬æ‘√‘¬– «—™®‘μæ—π∏å 200,000 0.23

10 ¡.√.«. ‡¥◊Õπ‡¥à𠰑쑬“°√ 160,000 0.18

π‚¬∫“¬°“√®à“¬‡ß‘πªíπº≈

∫√‘…—∑œ ¡’π‚¬∫“¬∑’Ë®–®à“¬‡ß‘πªíπº≈∑ÿ°ªï„πÕ—μ√“ª√–¡“≥√âÕ¬≈– 60 ¢Õß°”‰√ ÿ∑∏‘À≈—ßÀ—°¿“…’ ‚¥¬

¢÷ÈπÕ¬Ÿà°—∫¿“«–‡»√…∞°‘®·≈–º≈°“√¥”‡π‘πß“π¢Õß∫√‘…—∑‡ªìπÀ≈—°  à«ππ‚¬∫“¬°“√®à“¬‡ß‘πªíπº≈¢Õß∫√‘…—∑¬àÕ¬

®–æ‘®“√≥“®“°¿“«–‡»√…∞°‘®·≈–º≈°“√¥”‡π‘πß“π‡™àπ°—π

Page 27: S&P : Annual Report 2005

36

S&P SYNDICATE PUBLIC COMPANY LIMITEDANNUAL REPORT 2005

°“√®—¥°“√·≈–°“√°”°—∫¥Ÿ·≈°‘®°“√

‚§√ß √â“ß°“√®—¥°“√

‚§√ß √â“ß°√√¡°“√¡’ 3 ™ÿ¥ §◊Õ §≥–°√√¡°“√ §≥–°√√¡°“√μ√«® Õ∫ ·≈–§≥–°√√¡°“√∫√‘À“√

¡’√“¬≈–‡Õ’¬¥¥—ßπ’È

§≥–°√√¡°“√∫√‘…—∑

≥ «—π∑’Ë 23 ¡°√“§¡ 2549 ∫√‘…—∑œ ¡’°√√¡°“√∑—ÈßÀ¡¥®”π«π 11 ∑à“π ª√–°Õ∫¥â«¬

1. π“ß¿—∑√“ »‘≈“ÕàÕπ ª√–∏“π°√√¡°“√

2. √âÕ¬‚∑«√“°√ ‰√«“ √Õߪ√–∏“π°√√¡°“√

3. 𓬪√–‡«»«ÿ≤‘ ‰√«“ °√√¡°“√ºŸâ®—¥°“√„À≠à

4. π“¬¢®√‡¥™ ‰√«“ °√√¡°“√

5. π“ßæ—π∑‘æ“ ‰√«“ °√√¡°“√

6. π“¬æ®πå «‘‡∑μ¬πμ√°‘® °√√¡°“√

7. π“ß “«§—∑≈’¬“ · ß»“ μ√“ °√√¡°“√Õ‘ √–

8. 𓬇ª√¡ ‚™μ‘«“π‘™ °√√¡°“√Õ‘ √–

9. π“ß “«‚ ¿“«¥’ Õÿμμ‚¡∫≈ °√√¡°“√Õ‘ √–

10. 𓬥ÿ ‘μ ππ∑–π“§√ °√√¡°“√Õ‘ √–

11. π“߇°… ÿ¥“ ‰√«“ °√√¡°“√·≈–‡≈¢“πÿ°“√∫√‘…—∑

§≥–°√√¡°“√μ√«® Õ∫

§≥–°√√¡°“√ ‰¥â¡’¡μ‘·μàßμ—Èߧ≥–°√√¡°“√μ√«® Õ∫ μ“¡¡μ‘∑’˪√–™ÿ¡§≥–°√√¡°“√§√—Èß∑’Ë 2/2547

‡¡◊ËÕ«—π∑’Ë 17 情¿“§¡ 2547 ‚¥¬§≥–°√√¡°“√μ√«® Õ∫ª√–°Õ∫¥â«¬

1. π“ß “«§—∑≈’¬“ · ß»“ μ√“ ª√–∏“π°√√¡°“√μ√«® Õ∫

2. 𓬇ª√¡ ‚™μ‘«“π‘™ °√√¡°“√μ√«® Õ∫

3. π“ß “«‚ ¿“«¥’ Õÿμμ‚¡∫≈ °√√¡°“√μ√«® Õ∫

§≥–°√√¡°“√∫√‘À“√

§≥–°√√¡°“√ ‰¥â¡’¡μ‘·μàßμ—Èߧ≥–°√√¡°“√∫√‘À“√ μ“¡¡μ‘∑’˪√–™ÿ¡§≥–°√√¡°“√§√—Èß∑’Ë 5/2544 ‡¡◊ËÕ«—π∑’Ë

20 °—𬓬π 2544 ‚¥¬§≥–°√√¡°“√∫√‘À“√ 6 ∑à“π ª√–°Õ∫¥â«¬

1. √âÕ¬‚∑«√“°√ ‰√«“ ª√–∏“π°√√¡°“√∫√‘À“√

2. π“ß¿—∑√“ »‘≈“ÕàÕπ °√√¡°“√∫√‘À“√

3. π“¬¢®√‡¥™ ‰√«“ °√√¡°“√∫√‘À“√

Page 28: S&P : Annual Report 2005

37

4. 𓬪√–‡«»«ÿ≤‘ ‰√«“ °√√¡°“√∫√‘À“√

5. π“ßæ—π∑‘æ“ ‰√«“ °√√¡°“√∫√‘À“√

6. π“߇°… ÿ¥“ ‰√«“ °√√¡°“√∫√‘À“√

§≥–ºŸâ∫√‘À“√

≥ «—π∑’Ë 1 ¡°√“§¡ 2549 ∫√‘…—∑œ ¡’ºŸâ∫√‘À“√®”π«π 11 ∑à“π ª√–°Õ∫¥â«¬

1. √âÕ¬‚∑«√“°√ ‰√«“ ª√–∏“π°√√¡°“√∫√‘À“√

2. 𓬪√–‡«»«ÿ≤‘ ‰√«“ °√√¡°“√ºŸâ®—¥°“√„À≠à

√ÕߺŸâ®—¥°“√„À≠à “¬ªØ‘∫—μ‘°“√

3. π“ß¿—∑√“ »‘≈“ÕàÕπ °√√¡°“√∫√‘À“√

4. π“¬¢®√‡¥™ ‰√«“ °√√¡°“√∫√‘À“√

5. π“ßæ—π∑‘æ“ ‰√«“ °√√¡°“√∫√‘À“√

6. π“߇°… ÿ¥“ ‰√«“ °√√¡°“√∫√‘À“√

√—°…“°“√ √ÕߺŸâ®—¥°“√„À≠à “¬∫—≠™’°“√‡ß‘π

7. π“ß “«¬ÿ楒 ¥”√‘ÀåÕπ—πμå ∑’˪√÷°…“Õ“«ÿ‚ ª√–®”ΩÉ“¬∫√‘°“√®—¥‡≈’Ȭß

8. 𓬠ÿ«‘™ ªí≠≠“«’√å √ÕߺŸâ®—¥°“√„À≠à “¬°“√º≈‘μ‡∫‡°Õ√’Ë

9. π“߉æ≈‘π π‘¡‘μ¬ß °ÿ≈ √ÕߺŸâ®—¥°“√„À≠à “¬°“√º≈‘μÕ“À“√

√ÕߺŸâ®—¥°“√„À≠à “¬«‘®—¬·≈–æ—≤π“

10. 𓬠ÿ√—μ‘ ‡´π¬å«‘∫Ÿ≈¬å √ÕߺŸâ®—¥°“√„À≠à “¬°“√μ≈“¥·≈–°“√¢“¬

11. π“ß°¡≈πÿ™ ™—¬ ‘∑∏‘°ÿ≈ √ÕߺŸâ®—¥°“√„À≠à “¬∫√‘À“√·≈–æ—≤π“∑√—欓°√∫ÿ§§≈

(√“¬≈–‡Õ’¬¥¢Õß°√√¡°“√·≈–ºŸâ∫√‘À“√∑ÿ°∑à“πª√“°Ø„π‡Õ° “√·π∫)

Page 29: S&P : Annual Report 2005

38

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Page 34: S&P : Annual Report 2005

43

·ºπ¿Ÿ¡‘‚§√ß √â“ß°“√®—¥°“√

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§≥–°√√¡°“√∫√‘À“√

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(π“߉æ≈‘π π‘¡‘μ¬ß °ÿ≈)

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ºŸâ®—¥°“√„À≠à

(π“߇°…»‘√‘ °Ÿâ‡°’¬√μ‘π—π∑å)

°√√¡°“√ºŸâ®—¥°“√„À≠à

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Page 35: S&P : Annual Report 2005

44

S&P SYNDICATE PUBLIC COMPANY LIMITEDANNUAL REPORT 2005

¢Õ∫‡¢μÕ”π“®¢Õߧ≥–°√√¡°“√∫√‘…—∑§≥–°√√¡°“√¡’Õ”π“®Àπâ“∑’Ë®—¥°“√∫√‘…—∑œ „À⇪ìπμ“¡°ÆÀ¡“¬ «—μ∂ÿª√– ß§å ¢âÕ∫—ߧ—∫ ¡μ‘¢Õß∑’˪√–™ÿ¡

ºŸâ∂◊ÕÀÿâπ°”Àπ¥π‚¬∫“¬·≈–∑‘»∑“ß°“√¥”‡π‘πß“π °“√∫√‘À“√‡ß‘π °“√∫√‘À“√§«“¡‡ ’ˬߢÕß°‘®°“√°”°—∫·≈–§«∫§ÿ¡

¥Ÿ·≈„ÀâΩÉ“¬∫√‘À“√¥”‡π‘π°“√„À⇪ìπμ“¡π‚¬∫“¬∑’Ë°”À𥉫âÕ¬à“ß¡’ª√– ‘∑∏‘¿“æ·≈–ª√– ‘∑∏‘º≈ √«¡∑—Èß¡’Õ”π“®

¡Õ∫À¡“¬·μàßμ—Èß°√√¡°“√®”π«πÀπ÷Ëß„À⇪ìπ°√√¡°“√∫√‘À“√‡æ◊ËÕ¥”‡π‘π°“√Õ¬à“ßÀπ÷ËßÕ¬à“ß„¥À√◊ÕÀ≈“¬Õ¬à“ß

¢Õ∫‡¢μÕ”π“®Àπâ“∑’Ë¢Õߧ≥–°√√¡°“√∫√‘À“√1. „Àâ°√√¡°“√∫√‘À“√¡’Õ”π“®¥”‡π‘π°“√μ“¡π‚¬∫“¬¢Õߧ≥–°√√¡°“√∫√‘…—∑ ´÷ËßÕ¬Ÿà¿“¬„μâ°ÆÀ¡“¬

‡ß◊ËÕπ‰¢ °Æ√–‡∫’¬∫ ·≈–¢âÕ∫—ߧ—∫¢Õß∫√‘…—∑œ ‡«âπ·μà√“¬°“√∑’Ë°ÆÀ¡“¬°”Àπ¥„ÀâμâÕ߉¥â√—∫¡μ‘∑’˪√–™ÿ¡

ºŸâ∂◊ÕÀÿâπ

2. ¡’Õ”π“®®—¥∑” ‡ πÕ·π–·≈–°”Àπ¥π‚¬∫“¬·π«∑“ß∏ÿ√°‘®·≈–°≈¬ÿ∑∏å∑“ß∏ÿ√°‘®¢Õß∫√‘…—∑μàÕ§≥–

°√√¡°“√

3. °”Àπ¥·ºπ∏ÿ√°‘® Õ”π“®°“√∫√‘À“√ß“π Õπÿ¡—μ‘ß∫ª√–¡“≥ ”À√—∫ª√–°Õ∫∏ÿ√°‘®ª√–®”ªï·≈–ß∫

ª√–¡“≥√“¬®à“¬ª√–®”ªï ·≈–¥”‡π‘π°“√μ“¡·ºπ∑“ß∏ÿ√°‘®·≈–°≈¬ÿ∑∏å∑“ß∏ÿ√°‘®‚¥¬ Õ¥§≈âÕß°—∫

π‚¬∫“¬·≈–·π«∑“ß∏ÿ√°‘®∑’ˉ¥â·∂≈ßμàÕ§≥–°√√¡°“√

4.  ”À√—∫°“√Õπÿ¡—쑇°’ˬ«°—∫°‘®°“√Õ—π®–‡ªìπæ—π∏–ºŸ°æ—π ∫√‘…—∑œ ®–μâÕ߉¥â√—∫Õπÿ¡—μ‘‚¥¬§≥–°√√¡°“√

∫√‘À“√ ·≈–≈ßπ“¡‚¥¬°√√¡°“√ºŸâ¡’Õ”π“®≈ßπ“¡μ“¡Àπ—ß ◊Õ√—∫√Õ߇∑à“π—Èπ

5. ¥”‡π‘π°‘®°“√∑’ˇ°’ˬ«¢âÕß°—∫°“√∫√‘À“√ß“π∑—Ë«‰ª¢Õß∫√‘…—∑œ ∑—Èßπ’ÈÕ”π“®„π°“√¥”‡π‘π°“√¥—ß°≈à“«

¢â“ßμâπ ‰¡à√«¡∂÷ß°“√¥”‡π‘π°“√‡°’ˬ«°—∫√“¬°“√∑’ˇ°’ˬ«‚¬ß°—π ·≈–√“¬°“√‰¥â¡“·≈–®”Àπà“¬∑√—æ¬å ‘π

∑’Ë ”§—≠¢Õß∫√‘…—∑®¥∑–‡∫’¬π ∑’Ë®–μâÕߥ”‡π‘π°“√„À⇪ìπ‰ªμ“¡°Æ‡°≥±å¢Õßμ≈“¥À≈—°∑√—æ¬å·Ààß

ª√–‡∑»‰∑¬

6. ªØ‘∫—μ‘Àπâ“∑’ËÕ◊ËπÊ μ“¡∑’ˉ¥â√—∫¡Õ∫À¡“¬„π·μà≈–™à«ß‡«≈“®“°§≥–°√√¡°“√∫√‘…—∑œ

°“√¡Õ∫Õ”π“®¥—ß°≈à“«„Àâ·°à§≥–°√√¡°“√∫√‘À“√π—Èπ °”Àπ¥„Àâ√“¬°“√∑’Ë°√√¡°“√∫√‘À“√À√◊Õ∫ÿ§§≈

∑’ËÕ“®¡’§«“¡¢—¥·¬âß ¡’ à«π‰¥â‡ ’¬ À√◊Õ¡’§«“¡¢—¥·¬âß∑“ߺ≈ª√–‚¬™πå„π≈—°…≥–Õ◊Ëπ„¥°—∫∫√‘…—∑À√◊Õ∫√‘…—∑¬àÕ¬„Àâ

°√√¡°“√∫√‘À“√ ´÷Ëß¡’ à«π‰¥â‡ ’¬„π‡√◊ËÕß„¥ ‰¡à¡’ ‘∑∏‘ÕÕ°‡ ’¬ß≈ߧ–·ππ„π‡√◊ËÕßπ—Èπ ∑—Èßπ’È∑’˪√–™ÿ¡§≥–°√√¡°“√

∫√‘À“√ ‰¡à‰¥â¡Õ∫Õ”π“®„Àâ°√√¡°“√ºŸâ®—¥°“√„π°“√∑”√“¬°“√∑’ˇ°’ˬ«‚¬ß°—π ‚¥¬®– “¡“√∂¥”‡π‘π°“√‡©æ“–„π∏ÿ√°‘®

ª°μ‘‰¥â

¢Õ∫‡¢μÕ”π“®Àπâ“∑’Ë¢Õß°√√¡°“√μ√«® Õ∫1.  Õ∫∑“π„Àâ∫√‘…—∑œ ¡’°“√√“¬ß“π∑“ß°“√‡ß‘πÕ¬à“ß∂Ÿ°μâÕß·≈–‡ªî¥‡º¬Õ¬à“߇撬ßæÕ ‚¥¬°“√ª√– “π

§«“¡‡¢â“„®„ÀâÕ¬Ÿà„π·π«∑“߇¥’¬«°—π√–À«à“ߺŸâ Õ∫∫—≠™’ §≥–°√√¡°“√∫√‘…—∑ ·≈– ”π—°μ√«® Õ∫

¿“¬„π

2. æ‘®“√≥“§—¥‡≈◊Õ° ·≈–‡ πÕ·μàßμ—ÈߺŸâ Õ∫∫—≠™’¢Õß∫√‘…—∑ æ√âÕ¡∑—Èßæ‘®“√≥“‡ πÕº≈μÕ∫·∑π„π°“√

 Õ∫∫—≠™’ª√–®”ªï ‡æ◊ËÕ¢Õ√—∫°“√·μàßμ—Èß®“°∑’˪√–™ÿ¡„À≠ຟâ∂◊ÕÀÿâπ

Page 36: S&P : Annual Report 2005

45

3.  Õ∫∂“¡∂÷ß√–¥—∫§«“¡‡ ’ˬß∑’Ë ”§—≠ μ≈Õ¥®π«‘∏’∫√√‡∑“§«“¡‡ ’ˬ߄Àâ≈¥πâÕ¬≈ß®“°ºŸâ∫√‘À“√  ”π—°

μ√«® Õ∫¿“¬„π·≈–ºŸâ Õ∫∫—≠™’

4.  Õ∫∑“π·≈–æ‘®“√≥“√à«¡°—∫ºŸâ Õ∫∫—≠™’·≈– ”π—°μ√«® Õ∫¿“¬„π ‡æ◊ËÕ¬◊π¬—π∂÷ߧ«“¡‡æ’¬ßæÕ¢Õß

√–∫∫§«∫§ÿ¡¿“¬„π

5.  Õ∫∑“π°“√ªØ‘∫—μ‘ß“π¢Õß∫√‘…—∑œ „À⇪ìπ‰ªμ“¡π‚¬∫“¬∑’Ë°”À𥉫â À√◊Õ°ÆÀ¡“¬«à“¥â«¬À≈—°∑√—æ¬å

·≈–μ≈“¥À≈—°∑√—æ¬å À√◊Õ¢âÕ°”Àπ¥¢Õßμ≈“¥À≈—°∑√—æ¬å À√◊Õ¢âÕ°”Àπ¥¢ÕßÀπ૬°”°—∫¥Ÿ·≈

6.  Õ∫∑“πß∫°“√‡ß‘π·≈–À¡“¬‡Àμÿß∫°“√‡ß‘π°—∫ΩÉ“¬®—¥°“√ ºŸâ Õ∫∫—≠™’ ·≈– ”π—°μ√«® Õ∫¿“¬„π

°àÕπ∑’Ë®–π” àß„ÀâÀπà«¬ß“π°”°—∫¥Ÿ·≈

7. ®—¥∑”√“¬ß“π· ¥ß∂÷ߧ«“¡√—∫º‘¥™Õ∫·≈–°“√ªØ‘∫—μ‘ß“π¢Õߧ≥–°√√¡°“√μ√«® Õ∫ ‡ πÕ§≥–

°√√¡°“√·≈–„π√“¬ß“πª√–®”ªï¢Õß∫√‘…—∑œ

8. „Àâ¡’Àπâ“∑’ËÕ◊ËππÕ°‡Àπ◊Õ®“°∑’Ë°”À𥉫â¢â“ßμâπ ∑—Èßπ’È μ“¡¢âÕ∫—ߧ—∫ °ÆÀ¡“¬ À√◊Õ§” —ËߢÕߧ≥–

°√√¡°“√∫√‘…—∑

°“√ √√À“°√√¡°“√·≈–ºŸâ∫√‘À“√

°“√§—¥‡≈◊Õ°∫ÿ§§≈∑’Ë®–‡¢â“¥”√ßμ”·Àπà߇ªìπ°√√¡°“√¢Õß∫√‘…—∑œ ‰¡à‰¥âºà“π¢—ÈπμÕπ¢Õߧ≥–°√√¡°“√

 √√À“ ‡π◊ËÕß®“°∫√‘…—∑¬—߉¡à¡’§≥–°√√¡°“√ √√À“ Õ¬à“߉√°Áμ“¡ §≥–°√√¡°“√®–‡ªìπºŸâæ‘®“√≥“§—¥‡≈◊Õ° √√

∫ÿ§§≈ºŸâ¡’§ÿ≥«ÿ≤‘ §«“¡√Ÿâ §«“¡ “¡“√∂ ·≈–ª√– ∫°“√≥å°“√∑”ß“π∑’ˇ°’ˬ«¢âÕ߇æ◊ËÕª√–‚¬™πåμàÕ°“√¥”‡π‘πß“π

¢Õß∫√‘…—∑ „Àâ¡’ª√– ‘∑∏‘¿“æ·≈–¡’§ÿ≥ ¡∫—μ‘μ“¡¡“μ√“ 68 ·Ààßæ√–√“™∫—≠≠—μ‘∫√‘…—∑¡À“™π®”°—¥ æ.». 2535

·≈–μ“¡ª√–°“»§≥–°√√¡°“√°”°—∫À≈—°∑√—æ¬å·≈–μ≈“¥À≈—°∑√—æ¬å∑’ˇ°’ˬ«¢âÕß

„π°“√‡≈◊Õ°μ—Èߧ≥–°√√¡°“√¢Õß∫√‘…—∑œ ®–°√–∑”‚¥¬∑’˪√–™ÿ¡ºŸâ∂◊ÕÀÿâπ μ“¡À≈—°‡°≥±å·≈–«‘∏’°“√

¥—ßμàÕ‰ªπ’È

› ºŸâ∂◊ÕÀÿâπ§πÀπ÷Ëß¡’§–·ππ‡ ’¬ß‡∑à“°—∫Àπ÷ËßÀÿâπμàÕÀπ÷Ë߇ ’¬ß

› ºŸâ∂◊ÕÀÿâπ·μà≈–§π®–μâÕß„™â§–·ππ‡ ’¬ß∑’Ë¡’Õ¬Ÿà∑—ÈßÀ¡¥‡≈◊Õ°μ—Èß∫ÿ§§≈‡¥’¬« À√◊ÕÀ≈“¬§π‡ªìπ°√√¡°“√

°Á‰¥â·μà®–·∫àߧ–·ππ‡ ’¬ß„Àⷰຟ℥¡“°πâÕ¬‡æ’¬ß„¥‰¡à‰¥â

› ∫ÿ§§≈´÷Ë߉¥â√—∫§–·ππ‡ ’¬ß Ÿß ÿ¥μ“¡≈”¥—∫≈ß¡“ ‡ªìπºŸâ ‰¥â√—∫‡≈◊Õ°μ—È߇ªìπ°√√¡°“√‡∑à“®”π«π°√√¡°“√

∑’Ë®–æ÷ß¡’À√◊Õæ÷߇≈◊Õ°μ—Èß„π§√—Èßπ—Èπ „π°√≥’∑’Ë∫ÿ§§≈ ÷́Ë߉¥â√—∫°“√‡≈◊Õ°μ—Èß„π≈”¥—∫∂—¥≈ß¡“¡’§–·ππ‡ ’¬ß

‡∑à“°—π‡°‘π®”π«π°√√¡°“√∑’Ë®–æ÷ß¡’ À√◊Õæ÷߇≈◊Õ°μ—Èß„π§√—Èßπ—Èπ„À⺟⇪ìπª√–∏“π„π∑’˪√–™ÿ¡‡ªìπºŸâ

ÕÕ°‡ ’¬ß™’È¢“¥

Page 37: S&P : Annual Report 2005

46

S&P SYNDICATE PUBLIC COMPANY LIMITEDANNUAL REPORT 2005

§à“μÕ∫·∑πºŸâ∫√‘À“√

§à“μÕ∫·∑π∑’ˇªìπμ—«‡ß‘π

®”π«π ªï 2547 ®”π«π ªï 2548√“¬°“√ √“¬≈–‡Õ’¬¥§à“μÕ∫·∑π(∑à“π) (≈â“π∫“∑) (∑à“π) (≈â“π∫“∑)

°√√¡°“√ 11 13.25 11 15.10 ∫”‡ÀπÁ®·≈–‡∫’Ȭª√–™ÿ¡

ºŸâ∫√‘À“√ 15 19.53 17 22.46 ‡ß‘π‡¥◊Õπ ‡ß‘π‚∫π—  §à“æ“Àπ–

§à“μÕ∫·∑πÕ◊ËπÊ› ‰¡à¡’ ›

∑—Èßπ’È Õ“®·¬°§à“μÕ∫·∑π¢Õß°√√¡°“√‡ªìπ√“¬∫ÿ§§≈ Õ—π‰¥â·°à ∫”‡ÀπÁ®·≈–‡∫’Ȭª√–™ÿ¡ ́ ÷Ë߉¥â√—∫„π∞“π–

‡ªìπ°√√¡°“√∫√‘…—∑∑—Èß∑’ˇªìπμ—«‡ß‘π·≈–º≈ª√–‚¬™πåμÕ∫·∑πÕ◊Ëπ ¡’√“¬≈–‡Õ’¬¥¥—ßπ’È

(∫“∑)

1. π“ß¿—∑√“ »‘≈“ÕàÕπ 190,000.-

2. √âÕ¬‚∑«√“°√ ‰√«“ 200,000.-

3. π“¬¢®√‡¥™ ‰√«“ 200,000.-

4. 𓬪√–‡«»«ÿ≤‘ ‰√«“ 200,000.-

5. π“¬æ®πå «‘‡∑μ¬πμ√°‘® ›

(‡¢â“‡ªìπ°√√¡°“√‡¡◊ËÕ«—π∑’Ë 18 ¡°√“§¡ 2549)

6. π“ß “«§—∑≈’¬“ · ß»“ μ√“ 230,000.-

7. 𓬇ª√¡ ‚™μ‘«“π‘™ 220,000.-

8. π“ß “«‚ ¿“«¥’ Õÿμμ‚¡∫≈ 220,000.-

9. 𓬥ÿ ‘μ ππ∑–π“§√ 10,000.-

(‡¢â“‡ªìπ°√√¡°“√‡¡◊ËÕ«—π∑’Ë 19 ‡¡…“¬π 2548)

10. π“ßæ—π∑‘æ“ ‰√«“ 200,000.-

11. π“߇°… ÿ¥“ ‰√«“ 200,000.-

12. π“ß ÿ¿“æ√√≥ æ‘™—¬√≥√ߧå ß§√“¡ 160,000.-

(ÕÕ°®“°°√√¡°“√‡¡◊ËÕ«—π∑’Ë 19 ‡¡…“¬π 2548)

13. π“ßæ√摉≈ ‰√«“ 180,000.-

(ÕÕ°®“°°√√¡°“√‡¡◊ËÕ«—π∑’Ë 10 ¡°√“§¡ 2549)

√«¡∑—Èß ‘Èπ 2,210,000.-

Page 38: S&P : Annual Report 2005

47

°“√°”°—∫¥Ÿ·≈°‘®°“√∑’Ë¥’ 15 ¢âÕ

§≥–°√√¡°“√‡¢â“„® ∫∑∫“∑ Àπâ“∑’Ë·≈–§«“¡√—∫º‘¥™Õ∫¢Õߧ≥–°√√¡°“√∑’Ë¡’μàÕ∫√‘…—∑·≈–ºŸâ∂◊ÕÀÿâπ ·≈–

‰¥âªØ‘∫—μ‘μ“¡¢âÕæ÷ߪؑ∫—μ‘∑’Ë¥’ ”À√—∫°√√¡°“√∫√‘…—∑®¥∑–‡∫’¬π∑’ˇªìπ‰ªμ“¡·π«∑“ߢÕßμ≈“¥À≈—°∑√—æ¬å ‰¡à«à“®–

‡ªìπ°“√°”Àπ¥„Àâ¡’°“√‡ªî¥‡º¬¢âÕ¡Ÿ≈ “√ π‡∑»μàÕºŸâ≈ß∑ÿπ À√◊Õ°“√¢ÕÕπÿ¡—μ‘®“°∑’˪√–™ÿ¡§≥–°√√¡°“√„π°“√

‡¢â“∑”√“¬°“√μà“ßÊ ¢Õß∫√‘…—∑œ Õ¬à“߉√°Áμ“¡ §≥–°√√¡°“√¬—ß¡‘‰¥âªØ‘∫—μ‘„π‡√◊ËÕß°“√æ‘®“√≥“·μàßμ—Èߧ≥–°√√¡°“√

 √√À“ (Nominating Committee) ·≈–§≥–°√√¡°“√°”Àπ¥§à“μÕ∫·∑π°√√¡°“√ (Remuneration Committee)

·μà‰¥âæ‘®“√≥“·μàßμ—Èߧ≥–°√√¡°“√μ√«® Õ∫ ‡æ◊Ëՙ૬¥Ÿ·≈√–∫∫°“√§«∫§ÿ¡¿“¬„π„À⇪ìπ‰ªμ“¡∫∑∫“∑·≈–

Àπâ“∑’Ë∑’Ë°”Àπ¥ μ≈Õ¥®π°“√ªØ‘∫—μ‘μ“¡À≈—°°“√°“√°”°—∫¥Ÿ·≈°‘®°“√∑’Ë¥’ 15 ¢âÕ ‚¥¬¡’√“¬≈–‡Õ’¬¥¥—ßπ’È

1. π‚¬∫“¬‡°’ˬ«°—∫°“√°”°—∫¥Ÿ·≈°‘®°“√

§≥–°√√¡°“√‰¥â°”Àπ¥π‚¬∫“¬‡°’ˬ«°—∫°“√°”°—∫¥Ÿ·≈°‘®°“√ ‡π◊ËÕß®“°‡ÀÁπ«à“‡ªìπ ‘Ëß∑’Ë¡’§«“¡ ”§—≠

·≈–®”‡ªìπμàÕ°“√¥”‡π‘π∏ÿ√°‘®„Àâ¡’°“√‡®√‘≠‡μ‘∫‚μ∑’ˬ—Ë߬◊π §≥–°√√¡°“√∫√‘…—∑¡’§«“¡¡ÿàß¡—Ëπ·≈–μ—Èß„®∑’Ë®–ªØ‘∫—μ‘

μ“¡À≈—°°“√¥—ß°≈à“« ‚¥¬‰¥â°”Àπ¥π‚¬∫“¬·≈–∑‘»∑“ß°“√¥”‡π‘πß“π¢Õß∫√‘…—∑„À⧫“¡ ”§—≠μàÕ√–∫∫°“√§«∫§ÿ¡

·≈–°“√μ√«® Õ∫¿“¬„π °”°—∫¥Ÿ·≈ΩÉ“¬∫√‘À“√„À⥔‡π‘π°“√μ“¡π‚¬∫“¬Õ¬à“ß¡’ª√– ‘∑∏‘¿“æ ‡æ◊ËÕª√–‚¬™πå„π

√–¬–¬“«¢ÕߺŸâ∂◊ÕÀÿâπ ¿“¬„μâ°√Õ∫¢âÕ°”Àπ¥°ÆÀ¡“¬ ·≈–®√‘¬∏√√¡∑“ß∏ÿ√°‘®

2.  ‘∑∏‘¢ÕߺŸâ∂◊ÕÀÿâπ

„πªï 2548 ∫√‘…—∑¡’°“√ª√–™ÿ¡ºŸâ∂◊ÕÀÿâπ 1 §√—Èß ‡ªìπ°“√ª√–™ÿ¡ “¡—≠ª√–®”ªï 2548 ‚¥¬°“√ª√–™ÿ¡‰¥â®—¥

∑’ËÀâÕߪ√–™ÿ¡ ‡Õ  ·Õπ¥å æ’  “¢“∫“ßæ≈’ (∫“ßπ“-μ√“¥ °¡. 23) ¢Õß∫√‘…—∑ ·≈–∫√‘…—∑‰¥â®—¥ àßÀπ—ß ◊Õ𗥪√–™ÿ¡

æ√âÕ¡∑—ÈߢâÕ¡Ÿ≈ª√–°Õ∫ª√–™ÿ¡μ“¡«“√–μà“ßÊ „À⺟â∂◊ÕÀÿâπ∑√“∫≈à«ßÀπâ“°àÕπ«—πª√–™ÿ¡ 7 «—π ‚¥¬„π·μà≈–«“√–

¡’§«“¡‡ÀÁπ¢Õߧ≥–°√√¡°“√ª√–°Õ∫ ·≈–¡’°“√∫—π∑÷°°“√ª√–™ÿ¡∂Ÿ°μâÕߧ√∫∂â«π ‡æ◊ËÕ„À⺟â∂◊ÕÀÿâπ “¡“√∂

μ√«® Õ∫‰¥â

3.  ‘∑∏‘¢ÕߺŸâ¡’ à«π‰¥â‡ ’¬

∫√‘…—∑‰¥â„À⧫“¡ ”§—≠μàÕ ‘∑∏‘¢ÕߺŸâ¡’ à«π‰¥â‡ ’¬∑ÿ°°≈ÿà¡ ‚¥¬¡’√“¬≈–‡Õ’¬¥ ¥—ßπ’È

› æπ—°ß“π ∫√‘…—∑‰¥âªØ‘∫—μ‘°—∫æπ—°ß“πÕ¬à“߇∑à“‡∑’¬¡ ‡ªìπ∏√√¡ ·≈–„Àâº≈μÕ∫·∑π∑’ˇÀ¡“– ¡

› §Ÿà§â“ ∫√‘…—∑¡’°“√´◊ÈÕ ‘π§â“·≈–∫√‘°“√®“°§Ÿà§â“‡ªìπ‰ªμ“¡‡ß◊ËÕπ‰¢∑“ß°“√§â“ √«¡∂÷ß°“√ªØ‘∫—μ‘μ“¡

 —≠≠“μàÕ§Ÿà§â“

› ‡®â“Àπ’È ∫√‘…—∑ªØ‘∫—μ‘μ“¡‡ß◊ËÕπ‰¢°“√°Ÿâ¬◊¡‡ß‘πμ“¡¢âÕμ°≈ß

› ≈Ÿ°§â“ ∫√‘…—∑‡Õ“„®„ à·≈–√—∫º‘¥™Õ∫μàÕ≈Ÿ°§â“ º≈‘μ ‘π§â“∑’Ë¡’§ÿ≥¿“æ·≈–¡“μ√∞“π √—°…“§«“¡≈—∫¢Õß

≈Ÿ°§â“ ·≈–¡’Àπ૬ߓπÀ√◊Õ∫ÿ§§≈∑’Ë∑”Àπâ“∑’Ë√—∫¢âÕ√âÕ߇√’¬π¢Õß≈Ÿ°§â“ ‡æ◊ËÕ√’∫¥”‡π‘π°“√„Àâ·°à≈Ÿ°§â“

‚¥¬‡√Á«∑’Ë ÿ¥

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S&P SYNDICATE PUBLIC COMPANY LIMITEDANNUAL REPORT 2005

› §Ÿà·¢àß ∫√‘…—∑ª√–æƒμ‘μ“¡°√Õ∫°μ‘°“°“√·¢àߢ—π∑’Ë¥’ √—°…“∫√√∑—¥∞“π¢ÕߢâÕæ÷ߪؑ∫—μ‘„π°“√·¢àߢ—π

À≈’°‡≈’ˬ߫‘∏’°“√‰¡à ÿ®√‘μ‡æ◊ËÕ∑”≈“¬§Ÿà·¢àß

› ™ÿ¡™π ¡’§«“¡√—∫º‘¥™Õ∫μàÕ ¿“æ·«¥≈âÕ¡¢Õß™ÿ¡™π ·≈– —ߧ¡

∑—Èßπ’È ∫√‘…—∑®–ªØ‘∫—μ‘μ“¡¢âÕ°”Àπ¥¢Õß°ÆÀ¡“¬·≈–°Æ√–‡∫’¬∫μà“ßÊ ∑’ˇ°’ˬ«¢âÕß ‡æ◊ËÕ„Àâ ‘∑∏‘¢ÕߺŸâ¡’ à«π

‰¥â‡ ’¬‡À≈à“π’È ‰¥â√—∫°“√¥Ÿ·≈Õ¬à“ߥ’

4. °“√ª√–™ÿ¡ºŸâ∂◊ÕÀÿâπ

„π°“√ª√–™ÿ¡ºŸâ∂◊ÕÀÿâπ„πªï 2548 ¡’°√√¡°“√‡¢â“√à«¡ª√–™ÿ¡∑—Èß ‘Èπ 10 ∑à“π ÷́Ëß√«¡∂÷ߧ≥–°√√¡°“√

μ√«® Õ∫∑—Èß 3 ∑à“π ´÷Ëß„π°“√ª√–™ÿ¡ª√–∏“π„π∑’˪√–™ÿ¡‰¥â‡ªî¥‚Õ°“ „À⺟â∂◊ÕÀÿâπ¡’ ‘∑∏‘‡∑à“‡∑’¬¡°—π„π°“√

μ√«® Õ∫°“√¥”‡π‘πß“π¢Õß∫√‘…—∑  Õ∫∂“¡·≈–· ¥ß§«“¡§‘¥‡ÀÁπ·≈–¢âÕ‡ πÕ·π–μà“ßÊ √«¡∑—È߉¥â∫—π∑÷°

ª√–‡¥Áπ´—°∂“¡·≈–¢âÕ§‘¥‡ÀÁπ∑’Ë ”§—≠‰«â„π√“¬ß“π°“√ª√–™ÿ¡·≈â«

5. ¿“«–ºŸâπ”·≈–«‘ —¬∑—»πå

› §≥–°√√¡°“√‰¥â¡’ à«π√à«¡„π°“√°”Àπ¥ (À√◊Õ„À⧫“¡‡ÀÁπ™Õ∫) «‘ —¬∑—»πå ¿“√°‘® °≈¬ÿ∑∏å ‡ªÑ“À¡“¬

·ºπ∏ÿ√°‘® ·≈–ß∫ª√–¡“≥¢Õß∫√‘…—∑ μ≈Õ¥®π°”°—∫¥Ÿ·≈„ÀâΩÉ“¬∫√‘À“√¥”‡π‘π°“√„À⇪ìπ‰ªμ“¡·ºπ

∏ÿ√°‘®·≈–ß∫ª√–¡“≥∑’Ë°”À𥉫âÕ¬à“ß¡’ª√– ‘∑∏‘¿“æ·≈–ª√– ‘∑∏‘º≈ ‡æ◊ËÕ‡æ‘Ë¡¡Ÿ≈§à“∑“߇»√…∞°‘®

 Ÿß ÿ¥„Àâ·°à°‘®°“√ ·≈–§«“¡¡—Ëπ§ß Ÿß ÿ¥„Àⷰຟâ∂◊ÕÀÿâπ

› §≥–°√√¡°“√‰¥â®—¥„Àâ∫√‘…—∑¡’√–∫∫°“√§«∫§ÿ¡¿“¬„π °“√μ√«® Õ∫¿“¬„π ·≈–¡“μ√°“√∫√‘À“√

§«“¡‡ ’Ë¬ß √«¡∑—Èß¡’°“√μ‘¥μ“¡°“√¥”‡π‘π°“√„π‡√◊ËÕߥ—ß°≈à“«Õ¬à“ß ¡Ë”‡ ¡Õ„π°“√ª√–™ÿ¡

§≥–°√√¡°“√μ√«® Õ∫·≈–§≥–°√√¡°“√∫√‘…—∑

› §≥–°√√¡°“√‡ªìπºŸâæ‘®“√≥“°“√°”Àπ¥·≈–·¬°∫∑∫“∑Àπâ“∑’Ë ·≈–§«“¡√—∫º‘¥™Õ∫√–À«à“ß

§≥–°√√¡°“√ ·≈–§≥–°√√¡°“√∫√‘À“√Õ¬à“ß™—¥‡®π ¥—ß√“¬≈–‡Õ’¬¥„πÀ—«¢âÕ‚§√ß √â“ß°√√¡°“√∫√‘…—∑

› §≥–°√√¡°“√°”°—∫¥Ÿ·≈„Àâ§≥–°√√¡°“√∫√‘À“√¥”‡π‘π°“√μ“¡π‚¬∫“¬∑’Ë°”Àπ¥‰«â ·≈–°√≥’¡’

√“¬°“√∑’Ë¡’§«“¡¢—¥·¬âßÀ√◊Õ¡’ à«π‰¥â‡ ’¬ √«¡∑—Èß√“¬°“√∑’ËμâÕߢէ«“¡‡ÀÁπ®“°ºŸâ∂◊ÕÀÿâπ ∫√‘…—∑‰¥â

¥”‡π‘π°“√μ“¡¢âÕ°”Àπ¥¢Õß °≈μ. ·≈–μ≈“¥À≈—°∑√—æ¬å

6. §«“¡¢—¥·¬âß∑“ߺ≈ª√–‚¬™πå

‡æ◊ËÕªÑÕß°—𧫓¡¢—¥·¬âß∑“ߺ≈ª√–‚¬™πå §≥–°√√¡°“√‰¥â¥Ÿ·≈Õ¬à“ß√Õ∫§Õ∫‡¡◊ËÕ‡°‘¥√“¬°“√∑’ËÕ“®¡’§«“¡

¢—¥·¬âß∑“ߺ≈ª√–‚¬™πå ‚¥¬°”À𥉫â„π¢âÕ∫—ߧ—∫¢Õß∫√‘…—∑∑’˧≥–°√√¡°“√®–μâÕߪؑ∫—μ‘μ“¡¢âÕ°”Àπ¥¢Õß °≈μ.

·≈–μ≈“¥À≈—°∑√—æ¬åÕ¬à“߇§√àߧ√—¥ √«¡∑—È߉¥â°”Àπ¥„Àâ¡’°“√√“¬ß“π°“√‡ª≈’ˬπ·ª≈ß°“√∂◊ÕÀ≈—°∑√—æ¬åμàÕ°“√

ª√–™ÿ¡§≥–°√√¡°“√∫√‘…—∑∑ÿ°§√—Èß „πÀ—«‡√◊ËÕß°“√¥Ÿ·≈°“√„™â¢âÕ¡Ÿ≈¿“¬„π

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7. ®√‘¬∏√√¡∏ÿ√°‘®

∫√‘…—∑‰¥â à߇ √‘¡„Àâ§≥–°√√¡°“√ °√√¡°“√∫√‘À“√ ·≈–æπ—°ß“π ºŸâ´÷Ë߇°’ˬ«¢âÕߪؑ∫—μ‘Àπâ“∑’ˇ°’ˬ«°—∫

®√√¬“∫√√≥μ“¡¿“√°‘®¢Õß∫√‘…—∑¥â«¬§«“¡´◊ËÕ —μ¬å  ÿ®√‘μ ·≈–‡∑’ˬß∏√√¡ ∑—Èß°“√ªØ‘∫—μ‘μàÕ∫√‘…—∑ ·≈–ºŸâ¡’ à«π

‰¥â‡ ’¬∑ÿ°°≈ÿà¡  “∏“√≥™π  —ߧ¡ ·≈–≈Ÿ°§â“ ‚¥¬∫√‘…—∑‰¥âμ‘¥μàÕ ◊ËÕ “√°—∫æπ—°ß“πÕ¬à“ß ¡Ë”‡ ¡Õ ·≈–μ‘¥μ“¡

°“√ªØ‘∫—μ‘μ“¡·π«∑“ߥ—ß°≈à“«‡ªìπª√–®” √«¡∂÷ß°”Àπ¥∫∑≈ß‚∑…∑“ß«‘𗬉«â¥â«¬

8. °“√∂à«ß¥ÿ≈¢Õß°√√¡°“√∑’Ë ‰¡à‡ªìπºŸâ∫√‘À“√

§≥–°√√¡°“√∫√‘…—∑¡’®”π«π 11 ∑à“π ª√–°Õ∫¥â«¬

› °√√¡°“√∑’ˇªìπºŸâ∫√‘À“√ 6 ∑à“π

› °√√¡°“√Õ◊Ëπ 1 ∑à“π

› °√√¡°“√∑’ˇªìπÕ‘ √– 4 ∑à“𠧑¥‡ªìπÕ—μ√“ à«π‡°‘π°«à“ 1 „π 3 ¢Õß°√√¡°“√∑—Èߧ≥–

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

ª√–‡∑»‰∑¬‰¥â°”Àπ¥ °≈à“«§◊Õ

› ∂◊ÕÀÿâπ‰¡à‡°‘π√âÕ¬≈– 5 ¢Õß∑ÿπ™”√–·≈â«¢Õß∫√‘…—∑ ∫√‘…—∑„π‡§√◊Õ ∫√‘…—∑√à«¡ ∫√‘…—∑∑’ˇ°’ˬ«¢âÕß

› ‡ªìπ°√√¡°“√∑’ˉ¡à¡’ à«π√à«¡„π°“√∫√‘À“√ß“π ‰¡à‡ªìπ≈Ÿ°®â“ß æπ—°ß“π À√◊Õ∑’˪√÷°…“∑’ˉ¥â√—∫‡ß‘π‡¥◊Õπ

ª√–®”®“°∫√‘…—∑ ∫√‘…—∑„π‡§√◊Õ ∫√‘…—∑√à«¡ ∫√‘…—∑∑’ˇ°’ˬ«¢âÕß À√◊ÕºŸâ∂◊ÕÀÿâπ√“¬„À≠à „π√–¬–‡«≈“∑’Ë

ºà“π¡“·≈⫉¡àπâÕ¬°«à“ 1 ªï

› ‡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„π∫√‘…—∑ ∫√‘…—∑„π‡§√◊Õ ∫√‘…—∑√à«¡ ∫√‘…—∑∑’ˇ°’ˬ«¢âÕß

› ‡ªìπ°√√¡°“√∑’ˉ¡à„™à‡ªìπºŸâ‡°’ˬ«¢âÕßÀ√◊Õ≠“μ‘ π‘∑¢ÕߺŸâ∫√‘À“√À√◊ÕºŸâ∂◊ÕÀÿâπ√“¬„À≠à

› ‡ªìπ°√√¡°“√∑’ˉ¡à‰¥â√—∫°“√·μàßμ—Èߢ÷Èπ‡ªìπμ—«·∑π‡æ◊ËÕ√—°…“º≈ª√–‚¬™πå¢Õß°√√¡°“√∫√‘…—∑ ºŸâ∂◊ÕÀÿâπ

√“¬„À≠à À√◊ÕºŸâ∂◊ÕÀÿâπ´÷Ë߇ªìπºŸâ∑’ˇ°’ˬ«¢âÕß°—∫ºŸâ∂◊ÕÀÿâπ√“¬„À≠à

πÕ°®“°π’È·≈â« ¬—ßμâÕß “¡“√∂· ¥ß§«“¡‡ÀÁπÀ√◊Õ√“¬ß“π‰¥âÕ¬à“߇ √’μ“¡¿“√°‘®∑’ˉ¥â¡Õ∫À¡“¬ ‚¥¬

‰¡àμâÕߧ”π÷ß∂÷ߺ≈ª√–‚¬™πå„¥Ê ∑’ˇ°’ˬ«°—∫∑√—æ¬å ‘πÀ√◊Õμ”·ÀπàßÀπâ“∑’Ë ·≈–‰¡àμ°Õ¬Ÿà¿“¬„μâÕ‘∑∏‘æ≈¢Õß∫ÿ§§≈

À√◊Õ°≈ÿà¡∫ÿ§§≈„¥Ê √«¡∑—È߉¡à¡’ ∂“π°“√≥å„¥Ê ∑’Ë®–¡“∫’∫∫—ߧ—∫„Àâ ‰¡à “¡“√∂· ¥ß§«“¡‡ÀÁπ‰¥âμ“¡∑’Ëæ÷ß®–‡ªìπ

9. °“√√«¡À√◊Õ·¬°μ”·Àπàß

› ª√–∏“π°√√¡°“√‡ªìπμ—«·∑π¢Õß°≈ÿࡺŸâ∂◊ÕÀÿâπ√“¬„À≠à ´÷Ëß∂◊ÕÀÿâπ√âÕ¬≈– 44.39 ¢ÕßÀÿâπ∑—ÈßÀ¡¥

› ª√–∏“π°√√¡°“√‰¡à‡ªìπ∫ÿ§§≈‡¥’¬«°—π°—∫°√√¡°“√ºŸâ®—¥°“√ ·μà∑—Èß Õß∑à“π‡ªìπμ—«·∑π®“°°≈ÿࡺŸâ∂◊ÕÀÿâπ

„À≠à°≈ÿࡇ¥’¬«°—π Õ¬à“߉√°Áμ“¡ ‚§√ß √â“ߧ≥–°√√¡°“√¢Õß∫√‘…—∑ª√–°Õ∫¥â«¬°√√¡°“√∑’ˇªìπÕ‘ √–

¡“°°«à“ 1 „π 3 ¢Õß°√√¡°“√∑—Èߧ≥– ´÷Ëß®–∑”„À⇰‘¥°“√∂à«ß¥ÿ≈·≈–°“√ Õ∫∑“π°“√∫√‘À“√ß“π

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S&P SYNDICATE PUBLIC COMPANY LIMITEDANNUAL REPORT 2005

10. §à“μÕ∫·∑π°√√¡°“√·≈–ºŸâ∫√‘À“√

§à“μÕ∫·∑π°√√¡°“√‡ªìπ‰ªμ“¡À≈—°°“√·≈–π‚¬∫“¬∑’˧≥–°√√¡°“√∫√‘…—∑°”Àπ¥ ́ ÷Ë߇™◊ËÕ¡‚¬ß°—∫º≈°“√

¥”‡π‘πß“π¢Õß∫√‘…—∑ ¥Ÿ√“¬≈–‡Õ’¬¥À—«¢âÕ‡√◊ËÕߧà“μÕ∫·∑πºŸâ∫√‘À“√ ∑—Èßπ’È ∫”‡ÀπÁ®§≥–°√√¡°“√‰¥â¡’°“√𔇠πÕ

¢ÕÕπÿ¡—μ‘®“°∑’˪√–™ÿ¡ºŸâ∂◊ÕÀÿâπ∑ÿ°§√—Èß

11. °“√ª√–™ÿ¡§≥–°√√¡°“√

§≥–°√√¡°“√¡’°”Àπ¥ª√–™ÿ¡‚¥¬ª°μ‘‡ªìπª√–®”Õ¬à“ßπâÕ¬∑ÿ°Ê ‰μ√¡“  ·≈–¡’°“√ª√–™ÿ¡æ‘‡»…‡æ‘Ë¡

μ“¡§«“¡®”‡ªìπ ‚¥¬¡’°“√°”À𥫓√–™—¥‡®π≈à«ßÀπâ“ ·≈–¡’«“√–æ‘®“√≥“μ‘¥μ“¡º≈°“√¥”‡π‘πß“π‡ªìπª√–®”

ΩÉ“¬‡≈¢“πÿ°“√∫√‘…—∑‰¥â®—¥Àπ—ß ◊Õ‡™‘≠ª√–™ÿ¡ æ√âÕ¡√–‡∫’¬∫«“√–°“√ª√–™ÿ¡·≈–‡Õ° “√„Àâ§≥–°√√¡°“√°àÕπ

°“√ª√–™ÿ¡ ‡æ◊ËÕ„Àâ§≥–°√√¡°“√‰¥â¡’‡«≈“»÷°…“¢âÕ¡Ÿ≈Õ¬à“߇撬ßæÕ°àÕπ‡¢â“√à«¡ª√–™ÿ¡ ª°μ‘°“√ª√–™ÿ¡·μà≈–§√—Èß

®–„™â‡«≈“ª√–¡“≥ 2 ™—Ë«‚¡ß ‚¥¬„πªï 2548 ∑’˺à“π¡“ §≥–°√√¡°“√¡’°“√ª√–™ÿ¡®”π«π 4 §√—Èß ∑—Èßπ’È ‰¥â¡’

°“√®¥∫—π∑÷°°“√ª√–™ÿ¡‡ªìπ≈“¬≈—°…≥åÕ—°…√ ®—¥‡°Á∫√“¬ß“π°“√ª√–™ÿ¡∑’˺à“π°“√√—∫√Õß®“°§≥–°√√¡°“√

æ√âÕ¡„Àâ§≥–°√√¡°“√·≈–ºŸâ∑’ˇ°’ˬ«¢âÕßμ√«® Õ∫‰¥â

∑—Èßπ’È ®”π«π§√—Èß∑’˧≥–°√√¡°“√∫√‘…—∑‰¥â‡¢â“√à«¡ª√–™ÿ¡§≥–°√√¡°“√∫√‘…—∑„πªï 2548 ∑’˺à“π¡“ ¡’¥—ßπ’È

®”π«π (§√—Èß)

1. π“ß¿—∑√“ »‘≈“ÕàÕπ 3/4

2. √âÕ¬‚∑«√“°√ ‰√«“ 4/4

3. π“¬¢®√‡¥™ ‰√«“ 4/4

4. 𓬪√–‡«»«ÿ≤‘ ‰√«“ 4/4

5. π“¬æ®πå «‘‡∑μ¬πμ√°‘® -

(‡¢â“‡ªìπ°√√¡°“√‡¡◊ËÕ«—π∑’Ë 18 ¡°√“§¡ 2549)

6. π“ß “«§—∑≈’¬“ · ß»“ μ√“ 4/4

7. 𓬇ª√¡ ‚™μ‘«“π‘™ 3/4

8. π“ß “«‚ ¿“«¥’ Õÿμμ‚¡∫≈ 3/4

9. 𓬥ÿ ‘μ ππ∑–π“§√ 1/3

(‡¢â“‡ªìπ°√√¡°“√‡¡◊ËÕ«—π∑’Ë 19 ‡¡…“¬π 2548)

10. π“ßæ—π∑‘æ“ ‰√«“ 4/4

11. π“߇°… ÿ¥“ ‰√«“ 4/4

12. π“ß ÿ¿“æ√√≥ æ‘™—¬√≥√ߧå ß§√“¡ 1/1

(ÕÕ°®“°°√√¡°“√‡¡◊ËÕ«—π∑’Ë 19 ‡¡…“¬π 2548)

13. π“ßæ√摉≈ ‰√«“ 2/4

(ÕÕ°®“°°√√¡°“√‡¡◊ËÕ«—π∑’Ë 10 ¡°√“§¡ 2549)

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51

12. §≥–Õπÿ°√√¡°“√

§≥–°√√¡°“√∫√‘…—∑‰¥â·μàßμ—ÈßÕπÿ°√√¡°“√‡æ◊Ëՙ૬„π°“√°”°—∫¥Ÿ·≈°‘®°“√¢Õß∫√‘…—∑ ¥—ßπ’È

°√√¡°“√μ√«® Õ∫ ®—¥μ—Èߢ÷Èπ‡¡◊ËÕ«—π∑’Ë 17 情¿“§¡ 2547 ¡’«“√–°“√¥”√ßμ”·Àπàߧ√“«≈– 2 ªï ª√–°Õ∫

¥â«¬°√√¡°“√ 3 ∑à“π ·≈–‡≈¢“πÿ°“√ 1 ∑à“π ∑ÿ°∑à“π‡ªìπ°√√¡°“√∑’ˇªìπÕ‘ √– ¥—ß√“¬™◊ËÕ¥—ßμàÕ‰ªπ’È

1. π“ß “«§—∑≈’¬“ · ß»“ μ√“ ª√–∏“π

2. 𓬇ª√¡ ‚™μ‘«“π‘™ °√√¡°“√

3. π“ß “«‚ ¿“«¥’ Õÿμμ‚¡∫≈ °√√¡°“√

4. π“߇°…»‘√‘ °Ÿâ‡°’¬√μ‘π—π∑å ‡≈¢“πÿ°“√

°√√¡°“√μ√«® Õ∫¡’°“√ª√–™ÿ¡ ¡Ë”‡ ¡Õ „πªï 2548 ¡’°“√ª√–™ÿ¡∑—Èß ‘Èπ 4 §√—Èß ·≈–√“¬ß“πμàÕ§≥–

°√√¡°“√∫√‘…—∑  ”À√—∫Àπâ“∑’Ëæ‘®“√≥“·≈–¥”‡π‘π°“√ ¥Ÿ√“¬≈–‡Õ’¬¥À—«¢âÕ°“√®—¥°“√ à«π¢ÕߢÕ∫‡¢μ Õ”π“®Àπâ“∑’Ë

∑—Èßπ’È ®”π«π§√—Èß∑’˧≥–°√√¡°“√μ√«® Õ∫‰¥â‡¢â“√à«¡ª√–™ÿ¡§≥–°√√¡°“√μ√«® Õ∫„πªï 2548 ∑’˺à“π¡“

¡’¥—ßπ’È

®”π«π (§√—Èß)

1. π“ß “«§—∑≈’¬“ · ß»“ μ√“ 4/4

2. 𓬇ª√¡ ‚™μ‘«“π‘™ 3/4

3. π“ß “«‚ ¿“«¥’ Õÿμμ‚¡∫≈ 3/4

13. √–∫∫°“√§«∫§ÿ¡·≈–°“√μ√«® Õ∫¿“¬„π

∫√‘…—∑‰¥â„À⧫“¡ ”§—≠μàÕ√–∫∫§«∫§ÿ¡¿“¬„π∑—Èß„π√–¥—∫∫√‘À“√ ·≈–√–¥—∫ªØ‘∫—μ‘ß“π∑’Ë¡’ª√– ‘∑∏‘¿“æ

®÷߉¥â°”Àπ¥¿“√–Àπâ“∑’Ë Õ”π“®°“√¥”‡π‘π°“√¢ÕߺŸâªØ‘∫—μ‘ß“π ºŸâ∫√‘À“√ ‰«â‡ªìπ≈“¬≈—°…≥åÕ—°…√Õ¬à“ß™—¥‡®π ¡’

°“√§«∫§ÿ¡¥Ÿ·≈°“√„™â∑√—æ¬å ‘π¢Õß∫√‘…—∑„À⇰‘¥ª√–‚¬™πå ·≈–¡’°“√·∫àß·¬°Àπâ“∑’˺ŸâªØ‘∫—μ‘ß“π ºŸâμ‘¥μ“¡§«∫§ÿ¡

·≈–ª√–‡¡‘πº≈ÕÕ°®“°°—π ‡æ◊ËÕ„À⇰‘¥°“√∂à«ß¥ÿ≈·≈–μ√«® Õ∫√–À«à“ß°—πÕ¬à“߇À¡“– ¡ πÕ°®“°π’Ȭ—ß¡’°“√

§«∫§ÿ¡¿“¬„π∑’ˇ°’ˬ«°—∫√–∫∫‡ß‘π ‚¥¬∫√‘…—∑‰¥â®—¥„Àâ¡’√–∫∫√“¬ß“π∑“ß°“√‡ß‘π‡ πÕºŸâ∫√‘À“√ “¬ß“π∑’Ë√—∫º‘¥™Õ∫

∫√‘…—∑¡’ΩÉ“¬μ√«® Õ∫¿“¬„π ∑”Àπâ“∑’Ëμ√«® Õ∫„Àâ¡—Ëπ„®«à“°“√ªØ‘∫—μ‘ß“πÀ≈—°·≈–°‘®°√√¡∑“ß°“√‡ß‘π

 ”§—≠¢Õß∫√‘…—∑‰¥â¥”‡π‘π°“√μ“¡·π«∑“ß∑’Ë°”Àπ¥·≈–¡’ª√– ‘∑∏‘¿“æ √«¡∂÷ßμ√«® Õ∫°“√ªØ‘∫—μ‘μ“¡°ÆÀ¡“¬

·≈–¢âÕ°”Àπ¥∑’ˇ°’ˬ«°—∫∫√‘…—∑ (Compliace Control) ·≈–‡æ◊ËÕ„ÀâÀπ૬ߓπμ√«® Õ∫¿“¬„π¡’§«“¡‡ªìπÕ‘ √–

 “¡“√∂∑”Àπâ“∑’Ëμ√«® Õ∫·≈–∂à«ß¥ÿ≈‰¥âÕ¬à“߇μÁ¡∑’Ë §≥–°√√¡°“√®÷ß°”Àπ¥„ÀâΩÉ“¬μ√«® Õ∫¿“¬„π√“¬ß“πº≈

°“√μ√«® Õ∫‚¥¬μ√ßμàÕ§≥–°√√¡°“√μ√«® Õ∫ ·≈–‰¥â√—∫°“√ª√–‡¡‘πº≈ß“π®“°§≥–°√√¡°“√μ√«® Õ∫¥â«¬

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52

S&P SYNDICATE PUBLIC COMPANY LIMITEDANNUAL REPORT 2005

14. √“¬ß“π¢Õߧ≥–°√√¡°“√

§≥–°√√¡°“√∫√‘…—∑‡ªìπºŸâ√—∫º‘¥™Õ∫μàÕß∫°“√‡ß‘π√«¡¢Õß∫√‘…—∑·≈–∫√‘…—∑¬àÕ¬ ·≈– “√ π‡∑»∑“ß

°“√‡ß‘π∑’˪√“°Ø„π√“¬ß“πª√–®”ªï ß∫°“√‡ß‘π¥—ß°≈à“«®—¥∑”¢÷Èπμ“¡¡“μ√∞“π°“√∫—≠™’∑’Ë√—∫√Õß∑—Ë«‰ª„πª√–‡∑»‰∑¬

‚¥¬‡≈◊Õ°„™âπ‚¬∫“¬∫—≠™’∑’ˇÀ¡“– ¡·≈–∂◊ժؑ∫—μ‘Õ¬à“ß ¡Ë”‡ ¡Õ ·≈–„™â¥ÿ≈¬æ‘π‘®Õ¬à“ß√–¡—¥√–«—ß·≈–ª√–¡“≥°“√

∑’Ë¥’∑’Ë ÿ¥„π°“√®—¥∑” √«¡∑—Èß¡’°“√‡ªî¥‡º¬¢âÕ¡Ÿ≈ ”§—≠Õ¬à“߇撬ßæÕ„πÀ¡“¬‡Àμÿª√–°Õ∫ß∫°“√‡ß‘π

§≥–°√√¡°“√‰¥â®—¥„Àâ¡’°“√¥”√ß√—°…“‰«â´÷Ëß√–∫∫§«∫§ÿ¡¿“¬„π∑’Ë¡’ª√– ‘∑∏‘¿“æ ‡æ◊ËÕ„Àâ¡—Ëπ„®‰¥âÕ¬à“ß¡’

‡Àμÿº≈«à“°“√∫—π∑÷°¢âÕ¡Ÿ≈∑“ß∫—≠™’¡’§«“¡∂Ÿ°μâÕß §√∫∂â«π ·≈–‡æ’¬ßæÕ∑’Ë®–¥”√ß√—°…“‰«â´÷Ëß∑√—æ¬å ‘π ·≈–‡æ◊ËÕ

„Àâ∑√“∫®ÿ¥ÕàÕπ‡æ◊ËÕªÑÕß°—π‰¡à„À⇰‘¥°“√∑ÿ®√‘μÀ√◊Õ°“√¥”‡π‘π°“√∑’˺‘¥ª°μ‘Õ¬à“ß¡’ “√– ”§—≠

„π°“√π’È §≥–°√√¡°“√∫√‘…—∑‰¥â·μàßμ—Èߧ≥–°√√¡°“√μ√«® Õ∫ ́ ÷Ëߪ√–°Õ∫¥â«¬°√√¡°“√∑’ˉ¡à‡ªìπºŸâ∫√‘À“√

‡ªìπºŸâ¥Ÿ·≈√—∫º‘¥™Õ∫‡°’ˬ«°—∫§ÿ≥¿“æ¢Õß√“¬ß“π∑“ß°“√‡ß‘π·≈–√–∫∫§«∫§ÿ¡¿“¬„π ·≈–§«“¡‡ÀÁπ¢Õߧ≥–

°√√¡°“√μ√«® Õ∫‡°’ˬ«°—∫‡√◊ËÕßπ’È ª√“°Ø„π√“¬ß“π¢Õߧ≥–°√√¡°“√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¬ ≥ «—π∑’Ë 31 ∏—𫓧¡ 2548

15. §«“¡ —¡æ—π∏å°—∫ºŸâ≈ß∑ÿπ

§≥–°√√¡°“√∫√‘…—∑μ√–Àπ—°¥’«à“¢âÕ¡Ÿ≈¢Õß∫√‘…—∑œ ∑—Èß∑’ˇ°’ˬ«°—∫°“√‡ß‘π·≈–∑’ˉ¡à„™à°“√‡ß‘π≈â«π¡’º≈μàÕ

°√–∫«π°“√μ—¥ ‘π„®¢ÕߺŸâ≈ß∑ÿπ·≈–ºŸâ∑’Ë¡’ à«π‰¥â‡ ’¬¢Õß∫√‘…—∑œ ®÷߉¥â°”™—∫„ÀâΩÉ“¬∫√‘À“√¥”‡π‘π°“√„π‡√◊ËÕß∑’Ë

‡°’ˬ«°—∫°“√‡ªî¥‡º¬¢âÕ¡Ÿ≈∑’˧√∫∂â«π μ√ßμàÕ§«“¡‡ªìπ®√‘ß ‡™◊ËÕ∂◊Õ‰¥â  ¡Ë”‡ ¡Õ ·≈–∑—π‡«≈“ ÷́ËßΩÉ“¬∫√‘À“√¢Õß

∫√‘…—∑œ ‰¥â„À⧫“¡ ”§—≠·≈–¬÷¥∂◊ժؑ∫—μ‘¡“‚¥¬μ≈Õ¥„π à«π¢Õßß“π¥â“πºŸâ≈ß∑ÿπ —¡æ—π∏åπ—Èπ ∫√‘…—∑¬—߉¡à‰¥â®—¥μ—Èß

Àπ૬ߓπ¢÷Èπ‡©æ“– ·μà‰¥â¡Õ∫À¡“¬„Àâ√ÕߺŸâ®—¥°“√„À≠à “¬∫—≠™’°“√‡ß‘π·≈–√–∫∫ ∑”Àπâ“∑’Ëμ‘¥μàÕ ◊ËÕ “√°—∫

ºŸâ≈ß∑ÿπ ∂“∫—π ºŸâ∂◊ÕÀÿâπ √«¡∑—Èßπ—°«‘‡§√“–Àå·≈–¿“§√—∞∑’ˇ°’ˬ«¢âÕß ‡π◊ËÕß®“°°‘®°√√¡„π‡√◊ËÕߥ—ß°≈à“«¬—߉¡à¡“°π—°

´÷ËߺŸâ≈ß∑ÿπ “¡“√∂μ‘¥μàÕ¢Õ∑√“∫¢âÕ¡Ÿ≈∫√‘…—∑œ ‰¥â∑’Ë ‚∑√. 0-2381-3412-29 À√◊Õ∑’Ë website www.sandp.co.th

À√◊Õ∑’Ë e-mail address [email protected]

°“√„™â¢âÕ¡Ÿ≈¿“¬„π

∫√‘…—∑œ ¡’π‚¬∫“¬Àâ“¡°√√¡°“√·≈–ºŸâ∫√‘À“√„π°“√π”¢âÕ¡Ÿ≈¿“¬„π‡°’Ë¬«°—∫∞“π–°“√‡ß‘π·≈–º≈°“√

¥”‡π‘πß“π¢Õß∫√‘…—∑œ ÷́Ë߬—߉¡à‡ªî¥‡º¬μàÕ “∏“√≥™π‰ª„™â‡æ◊ËÕ· «ßÀ“º≈ª√–‚¬™πå à«πμ—« √«¡∑—Èß°“√ ◊́ÈÕ¢“¬

À≈—°∑√—æ¬å ‚¥¬®–„Àâ√—∫∑√“∫‡©æ“–μàÕ∫ÿ§§≈∑’ˇ°’ˬ«¢âÕ߇∑à“π—Èπ®π°«à“®–‰¥â¡’°“√‡ªî¥‡º¬μàÕºŸâ≈ß∑ÿπÀ√◊Õ∫ÿ§§≈

¿“¬πÕ°·≈â«

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ª√–‚¬™πå à«πμπ‚¥¬™—¥‡®π Õ¬à“߉√°Á¥’ ∫√‘…—∑œ ‰¥â¥”‡π‘π°“√·®âß„À⺟â∫√‘À“√ΩÉ“¬μà“ßÊ „À⇢Ⓞ®∂÷ß¿“√–Àπâ“∑’Ë

„π°“√√“¬ß“π°“√∂◊ÕÀ≈—°∑√—æ¬å„π∫√‘…—∑¢Õßμπ‡Õß §Ÿà ¡√  ·≈–∫ÿμ√∑’ˬ—߉¡à∫√√≈ÿπ‘μ‘¿“«– μ≈Õ¥®π√“¬ß“π

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°“√‡ª≈’ˬπ·ª≈ß°“√∂◊ÕÀ≈—°∑√—æ¬åμàÕ ”π—°ß“π§≥–°√√¡°“√°”°—∫À≈—°∑√—æ¬å·≈–μ≈“¥À≈—°∑√—æ¬åμ“¡¡“μ√“ 59

·≈–∫∑°”Àπ¥‚∑…μ“¡¡“μ√“ 275 ·Ààßæ√–√“™∫—≠≠—μ‘À≈—°∑√—æ¬å·≈–μ≈“¥À≈—°∑√—æ¬å æ.». 2535

°“√§«∫§ÿ¡¿“¬„π

∫√‘…—∑œ „À⧫“¡ ”§—≠μàÕ√–∫∫°“√§«∫§ÿ¡¿“¬„π ·≈–°“√μ√«® Õ∫¿“¬„π‡ªìπÕ¬à“߬‘Ëß ‚¥¬®—¥„Àâ¡’

√–∫∫°“√ª√–‡¡‘π·≈–°“√ Õ∫∑“π‡æ◊ËÕ„Àâ°“√¥”‡π‘πß“π‡ªìπ‰ªμ“¡¢âÕ°”Àπ¥°ÆÀ¡“¬ «—μ∂ÿª√– ß§å ¢âÕ∫—ߧ—∫

·≈–¡μ‘¢Õß∑’˪√–™ÿ¡ºŸâ∂◊ÕÀÿâπ¢Õß∫√‘…—∑œ ¿“¬„μâÀ≈—°°“√¢âÕæ÷ߪؑ∫—μ‘·≈–°“√°”°—∫¥Ÿ·≈°‘®°“√∑’Ë¥’ „π°“√ª√–™ÿ¡

§≥–°√√¡°“√∫√‘…—∑œ §√—Èß∑’Ë 1/2549 ‡¡◊ËÕ«—π∑’Ë 28 °ÿ¡¿“æ—π∏å 2549 ‚¥¬¡’°√√¡°“√Õ‘ √–·≈–°√√¡°“√μ√«® Õ∫

‡¢â“√à«¡ª√–™ÿ¡§√∫∂â«π §≥–°√√¡°“√‰¥âª√–‡¡‘π√–∫∫°“√§«∫§ÿ¡¿“¬„π ‚¥¬°“√´—°∂“¡¢âÕ¡Ÿ≈®“°ΩÉ“¬∫√‘À“√

ª√–°Õ∫°—∫°“√μ√«® Õ∫‡Õ° “√À≈—°∞“π®“°∑’ËΩÉ“¬∫√‘À“√®—¥À“„π¥â“πμà“ßÊ ∑’ˉ¥â°”Àπ¥‰«â¥—ßπ’È

1. §≥–°√√¡°“√μ√«® Õ∫ ∑”Àπâ“∑’Ëæ‘®“√≥“§«“¡‡æ’¬ßæÕ¢Õß√–∫∫§«∫§ÿ¡¿“¬„π¢Õß∫√‘…—∑œ ‚¥¬

∑∫∑«πº≈°“√ªØ‘∫—μ‘ß“π¢ÕßΩÉ“¬μ√«® Õ∫¿“¬„πÕ¬à“ßμàÕ‡π◊ËÕß ·≈–°”Àπ¥„Àâ “¬ß“πμ√«® Õ∫

¿“¬„π‡¢â“√à«¡À“√◊Õ·≈–·≈°‡ª≈’ˬπ¢âÕ§‘¥‡ÀÁπ æ√âÕ¡°—∫𔇠πÕ√“¬ß“π°“√μ√«® Õ∫¿“¬„π‡ªìπ

ª√–®”Õ¬à“ßπâÕ¬∑ÿ°‰μ√¡“  À“°§≥–°√√¡°“√μ√«® Õ∫¡’¢âÕ‡ πÕ·π–À√◊Õæ∫¢âÕ∫°æ√àÕß∑’ˇªìπ

 “√– ”§—≠®–√“¬ß“πμàÕ§≥–°√√¡°“√∫√‘…—∑‡æ◊ËÕ„Àâ¡’°“√ª√—∫ª√ÿß·°â ‰¢μàÕ‰ª

2. °“√∫√‘À“√§«“¡‡ ’Ë¬ß ∫√‘…—∑‰¥â„À⧫“¡ ”§—≠μàÕ°“√∫√‘À“√·≈–°“√®—¥°“√§«“¡‡ ’Ë¬ß °“√„Àâ¡’√–∫∫

 Õ∫∑“π‚¥¬§”π÷ß∂÷ß —≠≠“≥‡μ◊Õπ¿—¬·≈–ªí®®—¬Õ◊Ëπ∑’ËÕ“®¡’º≈°√–∑∫μàÕ°“√¥”‡π‘π∏ÿ√°‘®¢Õß∫√‘…—∑

‡æ◊ËÕ„À⇰‘¥ª√– ‘∑∏‘¿“æ·≈–ª√– ‘∑∏‘º≈ ΩÉ“¬∫√‘À“√®–∑”Àπâ“∑’Ë¥Ÿ·≈ ·≈–§«∫§ÿ¡§«“¡‡ ’ˬ߂¥¬√«¡

∑’ËÕ“®‡°‘¥¢÷Èπ„π°“√¥”‡π‘π∏ÿ√°‘®¢Õß∫√‘…—∑·≈–°“√ªØ‘∫—μ‘ß“π

3. °“√§«∫§ÿ¡°“√ªØ‘∫—μ‘ß“π¢ÕßΩÉ“¬∫√‘À“√ ∫√‘…—∑°”Àπ¥¿“√–Àπâ“∑’Ë Õ”π“®°“√¥”‡π‘π°“√¢ÕߺŸâ∫√‘À“√

·≈–ºŸâªØ‘∫—μ‘ß“π‰«â‡ªìπ≈“¬≈—°…≥åÕ—°…√ ¡’°“√·∫àß·¬°Àπâ“∑’˺ŸâªØ‘∫—μ‘ß“π ºŸâ§«∫§ÿ¡·≈–ª√–‡¡‘πº≈

ÕÕ°®“°°—πÕ¬à“ß™—¥‡®π ‡æ◊ËÕ„Àâ¡’°“√∂à«ß¥ÿ≈·≈–°“√μ√«® Õ∫Õ¬à“߇À¡“– ¡ ·≈–ªÑÕß°—π°“√°√–∑”

∑’Ë ‰¡à ÿ®√‘μ√«¡∑—Èß∑√—æ¬å ‘π¢Õß∫√‘…—∑·≈–∫√‘…—∑¬àÕ¬ °”Àπ¥¡“μ√°“√∑’Ë√—¥°ÿ¡„π°“√§«∫§ÿ¡°“√

ªØ‘∫—μ‘ß“π ·≈–°“√∑”∏ÿ√°√√¡μà“ßÊ ¢ÕßΩÉ“¬∫√‘À“√ À√◊ÕºŸâ¡’ à«π‡°’ˬ«¢âÕß ‡æ◊ËÕº≈ª√–‚¬™πå¢Õß

∫√‘…—∑‚¥¬√«¡‡ªì𠔧—≠

4. √–∫∫ “√ π‡∑» ∫√‘…—∑‰¥â¡’°“√æ—≤π“√–∫∫ “√ π‡∑» ·≈–√–∫∫¢âÕ¡Ÿ≈Õ¬à“ßμàÕ‡π◊ËÕß ‚¥¬≈ß∑ÿπ

æ—≤π“√–∫∫§Õ¡æ‘«‡μÕ√å„Àâ¡’§«“¡√«¥‡√Á«·≈–∑—π ¡—¬¬‘Ëߢ÷Èπ ‡æ’¬ßæÕ·≈–∑—π‡«≈“μàÕ°“√μ—¥ ‘π„®

¢ÕßΩÉ“¬∫√‘À“√·≈–§≥–°√√¡°“√¢Õß∫√‘…—∑ ‚¥¬‡©æ“–√–∫∫°“√®—¥‡°Á∫¢âÕ¡Ÿ≈ ‡Õ° “√ª√–°Õ∫°“√

∫—π∑÷°∫—≠™’μà“ßÊ „À⇪ìπ‰ªμ“¡π‚¬∫“¬·≈–¡“μ√∞“π°“√∫—≠™’ √«¡∑—Èß°“√‡ªî¥‡º¬ “√ π‡∑»∑’Ë

 ”§—≠¢Õß∫√‘…—∑Õ¬à“ß∂Ÿ°μâÕß ·≈–‚ª√àß„ μ“¡¢âÕæ÷ߪؑ∫—μ‘∑’Ë¥’ ”À√—∫∫√‘…—∑®¥∑–‡∫’¬π

5. √–∫∫°“√μ‘¥μ“¡ ∫√‘…—∑‰¥â¡’°“√μ‘¥μ“¡·≈–ª√–‡¡‘πº≈°“√¥”‡π‘πß“π‚¥¬‡ª√’¬∫‡∑’¬∫°—∫‡ªÑ“À¡“¬

·≈–º≈°“√¥”‡π‘πß“π∑’˺à“π¡“‡ªìπª√–®”∑ÿ°‰μ√¡“  ‚¥¬· ¥ß§«∫§Ÿà°—π‰ª°—∫√“¬ß“π¢ÕߺŸâ Õ∫∫—≠™’

„π°√≥’∑’˺≈°“√¥”‡π‘πß“π·μ°μà“ß®“°‡ªÑ“À¡“¬∑’Ë°”À𥉫âÕ¬à“ß¡’π—¬ ”§—≠ ®–¥”‡π‘π°“√°”Àπ¥

¡“μ√°“√·≈–·°â ‰¢‚¥¬∑—π∑’

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S&P SYNDICATE PUBLIC COMPANY LIMITEDANNUAL REPORT 2005

ºŸâ Õ∫∫—≠™’¢Õß∫√‘…—∑œ §◊Õ π“¬‡æ‘Ë¡»—°¥‘Ï ®‘√–®—°√«—≤π“ ÷́Ë߇ªìπºŸâμ√«® Õ∫ß∫°“√‡ß‘πª√–®”ß«¥ªï 2548

‰¡à¡’¢âÕ‡ πÕ·π–À√◊Õ§«“¡‡ÀÁπ‡æ‘Ë¡‡μ‘¡„π√“¬ß“π°“√ Õ∫∫—≠™’«à“∫√‘…—∑œ §«√ª√—∫ª√ÿß·°â ‰¢„π‡√◊ËÕß„¥Ê ∑—Èß ‘Èπ

∫ÿ§≈“°√

∫√‘…—∑œ ‰¡à¡’¢âÕæ‘æ“∑¥â“π·√ßß“π∑’Ë ”§—≠„π√–¬– 3 ªï∑’˺à“π¡“ ·≈–¡’®”π«πæπ—°ß“π (‰¡à√«¡°√√¡°“√

·≈–ºŸâ∫√‘À“√) §à“μÕ∫·∑πæπ—°ß“π ‰¥â·°à ‡ß‘π‡¥◊Õπ ‚∫π—  ·≈–§à“≈à«ß‡«≈“ ·≈– «— ¥‘°“√Õ◊ËπÊ ‚¥¬·¬°μ“¡

 “¬ß“πÀ≈—°Ê ‰¥â¥—ßπ’È

ªï 2547 ªï 2548

Àπà«¬ß“π ®”π«π§π §à“μÕ∫·∑π ®”π«π§π §à“μÕ∫·∑π(≈â“π∫“∑) (≈â“π∫“∑)

 ”π—°ß“π„πª√–‡∑» 279 61.90 348 79.49

ΩÉ“¬ªØ‘∫—μ‘°“√ “¢“ 2,496 283.54 2,629 310.29

‚√ßß“π 924 134.33 1,087 137.04

 “¢“μà“ߪ√–‡∑» 77 13.55 71 11.75

√«¡ 3,776 493.32 4,135 538.57

π‚¬∫“¬„π°“√æ—≤π“æπ—°ß“π∫√‘…—∑œ ¡’π‚¬∫“¬æ—≤π“∫ÿ§≈“°√¥—ßπ’È

1. ¡ÿà߇πâπ°“√æ—≤𓧫“¡√Ÿâ §«“¡ “¡“√∂ (Competency) ¢Õßæπ—°ß“πÕ¬à“ßμàÕ‡π◊ËÕß

2. ª√—∫ª√ÿß√–∫∫°“√ª√–‡¡‘πº≈°“√ªØ‘∫—μ‘ß“π‚¥¬‡πâπ∑’ˇªÑ“À¡“¬¢Õßß“π‡ªìπÀ≈—°

3. ®—¥√–∫∫‚§√ß √â“ß√“¬‰¥â ·≈–„Àâ “¡“√∂·¢àߢ—π°—∫∏ÿ√°‘®ª√–‡¿∑‡¥’¬«°—π‰¥â

4. °“√∫√‘À“√®—¥°“√‚¥¬Õ“»—¬°“√·°âªí≠À“√à«¡°—π ‡æ◊ËÕ„À⇰‘¥°“√∑”ß“π‡ªìπ∑’¡

5. °”Àπ¥ “¬§«“¡°â“«Àπâ“„πμ”·Àπàß ‚¥¬¡’«‘∏’ª√–‡¡‘π·∫∫∑¥ Õ∫∑’Ë™—¥‡®π·≈–‡ªìπ∏√√¡‡æ◊ËÕ°√–μÿâπ

„Àâæπ—°ß“π¡’°“√æ—≤π“μπ‡ÕßÕ¬à“ß ¡Ë”‡ ¡Õ

6.  à߇ √‘¡„À⇰‘¥∑—»π§μ‘∑’Ë¥’μàÕÕߧå°√ ¢«—≠·≈–°”≈—ß„®„π°“√∑”ß“π

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√“¬°“√√–À«à“ß°—π¡Ÿ≈§à“√“¬°“√(1) √“¬‰¥â

∫ÿ§§≈∑’ˇ°’ˬ«¢âÕß √“¬≈–‡Õ’¬¥¢Õß√“¬°“√ ªï 2547 ªï 2548

∫®. ‡ √’«—≤πå øŸÑ¥ å „À⇙à“Õ“§“√·≈–Õÿª°√≥å 4.19 ›

√“¬‰¥â§à“∫√‘°“√ 0.36 ›

∫®. ‡Õ  ·Õπ¥å æ’ ‚°≈‡∫‘≈ „À⇙à“Õ“§“√·≈–Õÿª°√≥å 0.18 0.18

√“¬‰¥â§à“∫√‘°“√ 0.04 ›

∫®. ‡Õ  ·Õπ¥å æ’ ·Õ ‡´∑ √“¬‰¥â§à“∫√‘°“√ › 0.23

(‡¥‘¡™◊ËÕ ∫®. ‡Õ  ·Õπ¥å æ’ ‰¡‡πÕ√åøŸÑ¥)

∫®. ‡Õ™ ¥’ ¥‘ ∑√‘∫‘«‡μÕ√å (ª√–‡∑»‰∑¬) „À⇙à“Õ“§“√·≈–Õÿª°√≥å 1.10 0.79

√“¬‰¥â§à“∫√‘°“√ 1.21 0.80

(2) ´◊ÈÕ ‘π§â“·≈–∫√‘°“√

∫ÿ§§≈∑’ˇ°’ˬ«¢âÕß √“¬≈–‡Õ’¬¥¢Õß√“¬°“√ ªï 2547 ªï 2548

∫®. ‡ √’«—≤πå øŸÑ¥ å ´◊ÈÕ ‘π§â“·≈–∫√‘°“√ 58.29 3.63

∫®. ‡Õ™ ¥’ ¥‘ ∑√‘∫‘«‡μÕ√å (ª√–‡∑»‰∑¬) ´◊ÈÕ ‘π§â“·≈–∫√‘°“√ 11.65 14.135

∫®. ‡Õ  ·Õπ¥å æ’ ·Õ ‡´∑ §à“‡™à“Õ“§“√·≈–∫√‘°“√ › 4.70

(‡¥‘¡™◊ËÕ ∫®. ‡Õ  ·Õπ¥å æ’ ‰¡‡πÕ√åøŸÑ¥)

∫®. ‡Õ .Õ“√å.‡Õ ‡μ∑ §à“‡™à“æ◊Èπ∑’Ë ”π—°ß“π “¢“ 0.43 0.43

°√√¡°“√¢Õß∫√‘…—∑ §à“‡™à“æ◊Èπ∑’Ë ”π—°ß“π·≈–‡°Á∫ ‘π§â“ 2.52 2.40

√“¬°“√§ß§â“ß(1) ≈Ÿ°Àπ’È°“√§â“

∫ÿ§§≈∑’ˇ°’ˬ«¢âÕß ≈—°…≥–√“¬°“√ ªï 2547 ªï 2548

∫®. ‡ √’«—≤πå øŸÑ¥ å ´◊ÈÕ ‘π§â“ ‡™à“æ◊Èπ∑’Ë·≈–Õÿª°√≥å°“√º≈‘μ › ›

∫®. ‡Õ™ ¥’ ¥‘ ∑√‘∫‘«‡μÕ√å (ª√–‡∑»‰∑¬) ´◊ÈÕ ‘π§â“ ‡™à“æ◊Èπ∑’Ë 0.23 0.14

∫®. Õ“√å ∫’ «“¬* ‡™à“æ◊Èπ∑’Ë 1.20 1.20

∫®. ‡ÕÁ¡®’‰Õ* ´◊ÈÕ ‘π§â“ 3.70 3.70

À¡“¬‡Àμÿ *∫√‘…—∑œ ‰¥âμ—Èß ”√Õß§à“‡º◊ËÕÀπ’È ß —¬®– Ÿ≠∑—Èß®”π«π

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S&P SYNDICATE PUBLIC COMPANY LIMITEDANNUAL REPORT 2005

(2) ‡ß‘π„Àâ°Ÿâ¬◊¡

‚¥¬∫√‘…—∑œ

∫ÿ§§≈∑’ˇ°’ˬ«¢âÕß ≈—°…≥–√“¬°“√ ¬Õ¥¬°¡“ „Àâ°Ÿâ‡æ‘Ë¡ √—∫™”√–§◊π ¬Õ¥¬°‰ª

∫®. ¬Ÿ‡π’¬π  °“¬ ‡Õ  ·Õπ¥å æ’* ‡ß‘π„Àâ°Ÿâ√–¬– —Èπ 5.66 - - 5.66

À¡“¬‡Àμÿ *∫√‘…—∑œ ‰¥âμ—Èß ”√Õß§à“‡º◊ËÕÀπ’È ß —¬®– Ÿ≠∑—Èß®”π«π

‚¥¬∫√‘…—∑ ‡Õ  ·Õπ¥å æ’ ‚°≈‡∫‘≈

∫ÿ§§≈∑’ˇ°’ˬ«¢âÕß ≈—°…≥–√“¬°“√ ¬Õ¥¬°¡“ „Àâ°Ÿâ‡æ‘Ë¡ √—∫™”√–§◊π ¬Õ¥¬°‰ª

∫®. Õ‘π‡μÕ√凡 ‚´à ‡√ ∑—«√Õß∑å æ’∑’Õ’ ‡ß‘π„Àâ°Ÿâ√–¬– —Èπ 0.13 - 0.13 -

∫®. æ’∑’.μ√—ßπŸ°“Œ“ øŸÑ¥ Õ‘π¥— ∑√’È* ‡ß‘π„Àâ°Ÿâ√–¬– —Èπ 12.66 - - 12.66*

∫®.  ¬“¡ §‘∑‡™àπ ‡Õ ¥’‡ÕÁπ ∫’‡Õ™¥’ (¡“‡≈‡ ’́¬) ‡ß‘π„Àâ°Ÿâ√–¬– —Èπ 2.78 - 0.99 1.79

∫®. ¿—∑√“ ¥’‡«≈≈Õª‡¡âπ∑å ‡ß‘π„Àâ°Ÿâ√–¬– —Èπ 5.17 - 2.05 3.12

À¡“¬‡Àμÿ *∫√‘…—∑œ ‰¥âμ—Èß ”√Õß§à“‡º◊ËÕÀπ’È ß —¬®– Ÿ≠∑—Èß®”π«π / „Àâ°Ÿâ¬◊¡ √—∫™”√–§◊π‡ªìπº≈®“°Õ—μ√“·≈°‡ª≈’ˬπ

(3) ‡®â“Àπ’È°“√§â“

∫ÿ§§≈∑’ˇ°’ˬ«¢âÕß √“¬≈–‡Õ’¬¥¢Õß√“¬°“√ ªï 2547 ªï 2548

∫®. ‡Õ  ·Õπ¥å æ’ ·Õ ‡´∑

(‡¥‘¡™◊ËÕ ∫®. ‡Õ  ·Õπ¥å æ’ ‰¡‡πÕ√åøŸÑ¥) §à“‡™à“Õ“§“√·≈–∫√‘°“√ › 0.18

∫®. ‡ √’«—≤πå øŸÑ¥ å ´◊ÈÕ ‘π§â“ 1.79 ›

∫®. ‡Õ™ ¥’ ¥‘ ∑√‘∫‘«‡μÕ√å (ª√–‡∑»‰∑¬) ´◊ÈÕ ‘π§â“ 2.44 3.92

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°“√«‘‡§√“–Àåº≈°“√¥”‡π‘πß“π·≈–∞“π–°“√‡ß‘π

º≈°“√¥”‡π‘πß“π

º≈°“√¥”‡π‘πß“πª√–®”ªï æ.». 2548 ¢Õß∫√‘…—∑œ ·≈–∫√‘…—∑¬àÕ¬ ¡’°”‰√ ÿ∑∏‘√«¡ 204 ≈â“π∫“∑

‡æ‘Ë¡¢÷Èπ√âÕ¬≈– 11.1 ®“°ªï°àÕπ ‚¥¬‡ªìπº≈¡“®“°ªí®®—¬À≈—°¥—ßμàÕ‰ªπ’È

√“¬‰¥â

√“¬‰¥â®“°°“√¢“¬·≈–∫√‘°“√‡æ‘Ë¡¢÷Èπ®“° 2,995 ≈â“π∫“∑„πªï 2547 ‡ªìπ 3,361 ≈â“π∫“∑ À√◊Õ§‘¥‡ªìπ

√âÕ¬≈– 12.2 ‚¥¬√“¬‰¥â®“°∏ÿ√°‘®°“√ª√–°Õ∫°‘®°“√√â“πÕ“À“√·≈–®”Àπà“¬º≈‘μ¿—≥±å‡∫‡°Õ√’Ë¿“¬„πª√–‡∑»

‡æ‘Ë¡¢÷Èπ√âÕ¬≈– 10 ·≈–∏ÿ√°‘®√â“πÕ“À“√„πμà“ߪ√–‡∑»‡æ‘Ë¡¢÷Èπ√âÕ¬≈– 26 ∑—Èßπ’È√“¬‰¥â∑’ˇæ‘Ë¡¢÷Èπ à«π„À≠à¡“®“°°“√

‡ªî¥ “¢“„À¡à∑—Èß„π·≈–μà“ߪ√–‡∑»

μâπ∑ÿπ¢“¬·≈–°”‰√¢—Èπμâπ

∂÷ß·¡âμâπ∑ÿπ¢“¬„πªï 2548 ®”π«π 1,933 ≈â“π∫“∑ ®– Ÿß°«à“ªï∑’˺à“π¡“∂÷ß√âÕ¬≈– 11.2 ·μà°Á∂◊Õ«à“

‡ªìπ°“√‡æ‘Ë¡„πÕ—μ√“∑’ËμË”°«à“°“√‡æ‘Ë¡¢÷Èπ¢Õß√“¬‰¥â ∑”„Àâ∫√‘…—∑œ ¡’°”‰√¢—Èπμâπ„πªï 2548 §‘¥‡ªìπ√âÕ¬≈– 42.5

¢Õß√“¬‰¥â ‡ª√’¬∫‡∑’¬∫°—∫ªï 2547 ÷́Ëß¡’Õ—μ√“°”‰√¢—Èπμâπ√âÕ¬≈– 42.0 ¢Õß√“¬‰¥â

§à“„™â®à“¬„π°“√¢“¬·≈–∫√‘À“√

§à“„™â®à“¬„π°“√¢“¬·≈–∫√‘À“√„πªï 2548 ®”π«π 1,186 ≈â“π∫“∑  Ÿß¢÷Èπ°«à“ªï°àÕπ√âÕ¬≈– 13.4 ‚¥¬¡’

 “‡ÀμÿÀ≈—°¡“®“°°“√¢¬“¬ “¢“√â“πÕ“À“√·≈–√â“π®”Àπà“¬‡∫‡°Õ√’Ë∑—Èß„π·≈–μà“ߪ√–‡∑»

°”‰√ ÿ∑∏‘

®“°√“¬‰¥â·≈–μâπ∑ÿπ¢“¬μ≈Õ¥®π§à“„™â®à“¬∑’ˇæ‘Ë¡¢÷Èπ¥—ß°≈à“«  àߺ≈„Àâ∫√‘…—∑œ ¡’°”‰√°àÕπÀ—°¥Õ°‡∫’Ȭ®à“¬

·≈–¿“…’‡ß‘π‰¥â„πªï 2548 ‡ªìπ‡ß‘π 296 ≈â“π∫“∑ §‘¥‡ªìπ√âÕ¬≈– 8.8 ¢Õß√“¬‰¥â√«¡  Ÿß°«à“ªï 2547 ∂÷ß√âÕ¬≈–

13.8 ∫√‘…—∑œ ¡’°”‰√ ÿ∑∏‘®”π«π 204 ≈â“π∫“∑ §‘¥‡ªìπ√âÕ¬≈– 6.1 ¢Õß√“¬‰¥â√«¡ ´÷Ë߇ªìπÕ—μ√“ à«π∑’Ë„°≈⇧’¬ß°—∫

Õ—μ√“°”‰√ ÿ∑∏‘„πªï∑’˺à“π¡“ ∫√‘…—∑œ  “¡“√∂∑”°”‰√μàÕÀÿâπ„πªï 2548 ‡ªìπ‡ß‘π 2.68 ∫“∑μàÕÀÿâπ „π¢≥–∑’Ë

ªï∑’Ë·≈â«¡’°”‰√μàÕÀÿâπ®”π«π 2.53 ∫“∑μàÕÀÿâπ

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∞“π–°“√‡ß‘π

 ‘π∑√—æ¬å

≥ «—π∑’Ë 31 ∏—𫓧¡ 2548 ∫√‘…—∑œ ¡’ ‘π∑√—æ¬å√«¡ 2,085 ≈â“π∫“∑ ª√–°Õ∫¥â«¬ ‘π∑√—æ¬åÀ¡ÿπ‡«’¬π

756 ≈â“π∫“∑ ∑’Ë¥‘π Õ“§“√·≈–Õÿª°√≥å√«¡ ‘∑∏‘°“√‡™à“ 1,189 ≈â“π∫“∑ ‡ß‘π≈ß∑ÿπ√–¬–¬“«·≈–Õ◊ËπÊ 140

≈â“π∫“∑

 ‘π∑√—æ¬å„πªï 2548 ¡’¡Ÿ≈§à“‡æ‘Ë¡¢÷Èπ®“°ªï°àÕπ√âÕ¬≈– 19 ‡ªìπº≈¡“®“° ‘π∑√—æ¬å∂“«√∑’ˇæ‘Ë¡¢÷Èπ‡π◊ËÕß®“°

°“√¢¬“¬ “¢“∑—Èß„πª√–‡∑»·≈–μà“ߪ√–‡∑» ‚¥¬„π à«π¢Õß “¢“„πª√–‡∑»‡æ‘Ë¡¢÷Èπ√âÕ¬≈– 20 ·≈– “¢“„π

μà“ߪ√–‡∑»‡æ‘Ë¡¢÷Èπ√âÕ¬≈– 14

Àπ’È ‘π·≈– à«π¢ÕߺŸâ∂◊ÕÀÿâπ

Àπ’È ‘π√«¡

≥ 31 ∏—𫓧¡ 2548 ∫√‘…—∑œ ¡’Àπ’È ‘π√«¡®”π«π 512 ≈â“π∫“∑ ‡æ‘Ë¡¢÷Èπ®“°ªï°àÕπ 67 ≈â“π∫“∑

À√◊Õ‡æ‘Ë¡¢÷Èπ√âÕ¬≈– 15 ‚¥¬ à«π„À≠à¡“®“°‡®â“Àπ’È°“√§â“·≈–§à“„™â®à“¬§â“ß®à“¬∑’ˇæ‘Ë¡¢÷Èπ Õ—μ√“ à«π¢ÕßÀπ’È ‘π

μàÕ à«π¢ÕߺŸâ∂◊ÕÀÿâπ‡∑à“°—∫ 0.3 ‡∑à“

 à«π¢ÕߺŸâ∂◊ÕÀÿâπ

∫√‘…—∑œ ¡’ à«π¢ÕߺŸâ∂◊ÕÀÿâπ 1,573 ≈â“π∫“∑ §‘¥‡ªìπ¡Ÿ≈§à“Àÿâπμ“¡∫—≠™’Àÿâπ≈– 18.0 ∫“∑ ‡∑’¬∫°—∫

 à«π¢ÕߺŸâ∂◊ÕÀÿâπ„πªï∑’Ë·≈â«®”π«π 1,304 ≈â“π∫“∑ ¡’¡Ÿ≈§à“Àÿâπμ“¡∫—≠™’Àÿâπ≈– 17.43 ∫“∑ „πªï 2548 ¡’ºŸâ∂◊ÕÀÿâπ

π”„∫ ”§—≠· ¥ß ‘∑∏‘ (Warrant) ¡“‡ª≈’ˬπ‡ªìπÀÿâπ “¡—≠®”π«π 12.1 ≈â“πÀπ૬ ∑”„Àâ∫√‘…—∑œ ¡’Àÿâπ “¡—≠∑’ËÕÕ°

·≈–™”√–·≈â« ≥ «—π∑’Ë 31 ∏—𫓧¡ 2548 ®”π«π 86.9 ≈â“πÀÿâπ

°√–· ‡ß‘π ¥

„πªï 2548 ∫√‘…—∑œ ¡’°√–· ‡ß‘π ¥ ÿ∑∏‘∑’ˉ¥â¡“®“°°“√¥”‡π‘πß“π·≈–°“√®—¥À“·À≈à߇ߑπ∑ÿπ®”π«π

414 ≈â“π∫“∑ ·≈– 81 ≈â“π∫“∑μ“¡≈”¥—∫ ·≈–¡’°√–· ‡ß‘𠥄™â ‰ª„π°‘®°√√¡≈ß∑ÿπ®”π«π 344 ≈â“π∫“∑

‚¥¬ß∫¥ÿ≈ ≥ «—π∑’Ë 31 ∏—𫓧¡ 2548 ¡’‡ß‘π ¥·≈–√“¬°“√‡∑’¬∫‡∑à“‡ß‘π ¥®”π«π 442 ≈â“π∫“∑  Ÿß°«à“ªï 2547

‡ªìπ‡ß‘π 145 ≈â“π∫“∑ ‚¥¬¡’‡ß‘π ¥§ß‡À≈◊Õ‡∑à“°—∫ 297 ≈â“π∫“∑ ‚¥¬¡’ “√– ”§—≠¥—ßπ’È

› °√–· ‡ß‘π ¥ ÿ∑∏‘®“°°“√¥”‡π‘πß“π®”π«π 414 ≈â“π∫“∑ ‰¥â¡“®“°°”‰√®“°°“√¥”‡π‘πß“π∑’ˇªìπ

‡ß‘π ¥ 400 ≈â“π∫“∑ ·≈–®“° à«πμà“ß√–À«à“ßÀπ’È ‘π§â“ß™”√–∑’ˇæ‘Ë¡¢÷Èπ®”π«π 49 ≈â“π∫“∑ °—∫

°√–· ‡ß‘π ¥∑’Ë≈¥≈ß®“°°“√‡æ‘Ë¡¢÷Èπ¢Õß ‘π∑√—æ¬å¥”‡π‘πß“π®”π«π 34 ≈â“π∫“∑ ‰¥â·°à ≈Ÿ°Àπ’È°“√§â“

‡æ‘Ë¡¢÷Èπ 6 ≈â“π∫“∑  ‘π§â“§ß‡À≈◊Õ‡æ‘Ë¡¢÷Èπ 4 ≈â“π∫“∑ ·≈– ‘π∑√—æ¬åÕ◊Ëπ‡æ‘Ë¡¢÷Èπ 24 ≈â“π∫“∑

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59

› °√–· ‡ß‘π ¥®“°°“√®—¥À“·À≈à߇ߑπ∑ÿπ‰¥â¡“®“° ‡ß‘π ¥√—∫®“°°“√∑’˺Ÿâ∂◊ÕÀÿâππ”„∫ ”§—≠· ¥ß ‘∑∏‘

(Warrant) ¡“‡ª≈’ˬπ‡ªìπÀÿâπ “¡—≠®”π«π 218 ≈â“π∫“∑ ‡ß‘π ¥√—∫®“°°“√°Ÿâ¬◊¡√–¬– —Èπ 14 ≈â“π∫“∑

·≈–¡’‡ß‘𠥄™â ‰ª„π°“√®à“¬‡ß‘πªíπº≈ª√–®”ªï·≈–‡ß‘πªíπº≈√–À«à“ß°“≈®”π«π 151 ≈â“π∫“∑

∑”„Àâ∫√‘…—∑œ ¡’°√–· ‡ß‘π ¥ ÿ∑∏‘®“°°“√®—¥À“‡ß‘π∑ÿπ∑—Èß ‘Èπ 81 ≈â“π∫“∑

› ‡ß‘𠥄™â ‰ª„π°‘®°√√¡≈ß∑ÿπ®”π«π 344 ≈â“π∫“∑ ¡“®“°°“√®—¥´◊ÈÕ«— ¥ÿÕÿª°√≥å·≈–‡§√◊ËÕß®—°√

 ”À√—∫‚√ßß“πªí®®ÿ∫—π 78 ≈â“π∫“∑ °“√°àÕ √â“ßÕ“§“√„À¡à¢Õß‚√ßß“πº≈‘μÕ“À“√ 37 ≈â“π∫“∑

°“√≈ß∑ÿπ‡ªî¥ “¢“·≈–‡∫‡°Õ√’Ë™ÁÕæ„À¡à μ≈Õ¥®π°“√ª√—∫ª√ÿß´àÕ¡·´¡ “¢“‡¥‘¡√«¡ 170 ≈â“π∫“∑

®—¥ ◊́ÈÕ«— ¥ÿÕÿª°√≥å·≈–‡§√◊ËÕß„™â ”π—°ß“π 14 ≈â“π∫“∑ ·≈–„™â„π°“√≈ß∑ÿπ´◊ÈÕÀ≈—°∑√—æ¬å·≈–æ—π∏∫—μ√

√«¡ 29 ≈â“π∫“∑

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√“¬ß“π§≥–°√√¡°“√μ√«® Õ∫

§≥–°√√¡°“√μ√«® Õ∫ ÷́Ëߪ√–°Õ∫¥â«¬°√√¡°“√ ®”π«π 3 ∑à“π ‚¥¬¡’ π“ß “«§—∑≈’¬“ · ß»“ μ√“

‡ªìπª√–∏“π§≥–°√√¡°“√μ√«® Õ∫ 𓬇ª√¡ ‚™μ‘«“π‘™ ·≈–π“ß “«‚ ¿“«¥’ Õÿμμ‚¡∫≈ ‡ªìπ°√√¡°“√

μ√«® Õ∫ ´÷Ëß·μà≈–∑à“π‰¡à‰¥â‡ªìπ‡®â“Àπâ“∑’Ë∫√‘À“√À√◊Õæπ—°ß“π¢Õß∫√‘…—∑ §≥–°√√¡°“√μ√«® Õ∫¡’¢Õ∫‡¢μ

°“√ªØ‘∫—μ‘ß“π Àπâ“∑’Ë·≈–§«“¡√—∫º‘¥™Õ∫μ“¡°Æ∫—μ√§≥–°√√¡°“√μ√«® Õ∫∑’ËÕπÿ¡—μ‘‚¥¬∑’˪√–™ÿ¡§≥–°√√¡°“√

∫√‘…—∑ ´÷Ë߇ªìπ‰ªμ“¡¢âÕ°”Àπ¥¢Õßμ≈“¥À≈—°∑√—æ¬å·Ààߪ√–‡∑»‰∑¬ ·≈–√“¬ß“πμàÕ§≥–°√√¡°“√∫√‘…—∑

„πªï 2548 §≥–°√√¡°“√μ√«® Õ∫‰¥â®—¥„Àâ¡’°“√ª√–™ÿ¡ 4 §√—Èß ‡æ◊ËÕ∑”°“√¥Ÿ·≈°‘®°“√μ“¡¢Õ∫‡¢μ

§«“¡√—∫º‘¥™Õ∫∑’ˉ¥â√—∫¡Õ∫À¡“¬®“°§≥–°√√¡°“√∫√‘…—∑ ́ ÷Ëß√«¡∂÷ß°“√ Õ∫∑“π√“¬ß“π ß∫°“√‡ß‘π∑—Èßß∫°“√‡ß‘π

√“¬‰μ√¡“  ·≈–ª√–®”ªï √–∫∫°“√§«∫§ÿ¡¿“¬„π‚¥¬√à«¡ Õ∫∑“𧫓¡‡À¡“– ¡°—∫ΩÉ“¬μ√«® Õ∫¿“¬„π

·≈–ΩÉ“¬∫√‘À“√∑’ˇ°’ˬ«¢âÕß ‡æ◊ËÕª√—∫ª√ÿß„Àâ√–∫∫§«∫§ÿ¡¿“¬„π¡’ª√– ‘∑∏‘¿“欑Ëߢ÷Èπ √–∫∫°“√∫√‘À“√ §«“¡‡ ’ˬß

·≈–ªí®®—¬Õ◊Ëπ∑’ËÕ“®¡’º≈°√–∑∫Õ¬à“ß¡’π—¬ ”§—≠μàÕ°“√¥”‡π‘π∏ÿ√°‘®¢Õß∫√‘…—∑œ °“√ªØ‘∫—μ‘μ“¡°ÆÀ¡“¬∑’ˇ°’ˬ«¢âÕß

°“√ªØ‘∫—μ‘μ“¡À≈—°°“√°”°—∫¥Ÿ·≈°‘®°“√∑’Ë¥’ ‡æ◊ËÕÀ“√◊Õ·≈–·≈°‡ª≈’ˬπ¢âÕ§‘¥‡ÀÁπ‡°’Ë¬«°—∫º≈°“√μ√«® Õ∫

°“√ª√–‡¡‘π§ÿ≥¿“æ„π¥â“πμà“ßÊ ·≈–§«“¡‡æ’¬ßæÕ¢Õß√–∫∫°“√§«∫§ÿ¡¿“¬„π πÕ°®“°π’È„π°“√ªØ‘∫—μ‘ß“π

μ“¡¿“√–Àπâ“∑’Ë §≥–°√√¡°“√μ√«® Õ∫‰¥â„Àâ¢âÕ‡ πÕ·π–™◊ËÕºŸâ Õ∫∫—≠™’ ·≈–§à“μÕ∫·∑πª√–®”ªï 2549

μàÕ§≥–°√√¡°“√‡æ◊ËÕ𔇠πÕ„π∑’˪√–™ÿ¡ºŸâ∂◊ÕÀÿâπ¢Õß∫√‘…—∑æ‘®“√≥“≈ß¡μ‘·μàßμ—ÈßμàÕ‰ª

§≥–°√√¡°“√μ√«® Õ∫‰¥âªØ‘∫—μ‘Àπâ“∑’ËÕ¬à“ß¡’Õ‘ √–®“°§≥–°√√¡°“√∫√‘…—∑ ·≈–ΩÉ“¬∫√‘À“√ ‚¥¬‰¥â

√“¬ß“πº≈°“√ª√–™ÿ¡ ·≈–√“¬ß“π°“√ªØ‘∫—μ‘Àπâ“∑’ËμàÕ§≥–°√√¡°“√∫√‘…—∑·≈â«

≈ß™◊ËÕ π“ß “«§—∑≈’¬“ · ß»“ μ√“

ª√–∏“π§≥–°√√¡°“√μ√«® Õ∫

«—π∑’Ë 28 °ÿ¡¿“æ—π∏å 2549

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√“¬ß“π¢ÕߺŸâ Õ∫∫—≠™’√—∫Õπÿ≠“μ

‡ πÕºŸâ∂◊ÕÀÿâπ·≈–§≥–°√√¡°“√∫√‘…—∑ ‡Õ  ·Õπ¥å æ’ ´‘𥑇§∑ ®”°—¥ (¡À“™π)

¢â“懮Ⓣ¥âμ√«® Õ∫ß∫¥ÿ≈√«¡¢Õß ∫√‘…—∑ ‡Õ  ·Õπ¥å æ’ ´‘𥑇§∑ ®”°—¥ (¡À“™π) ·≈–∫√‘…—∑¬àÕ¬·≈–

ß∫¥ÿ≈‡©æ“–¢Õß ∫√‘…—∑ ‡Õ  ·Õπ¥å æ’ ‘́𥑇§∑ ®”°—¥ (¡À“™π) ≥ «—π∑’Ë 31 ∏—𫓧¡ 2548 ·≈– 2547 ·≈–

ß∫°”‰√¢“¥∑ÿπ√«¡ ß∫· ¥ß°“√‡ª≈’ˬπ·ª≈ß à«π¢ÕߺŸâ∂◊ÕÀÿâπ√«¡·≈–ß∫°√–· ‡ß‘π ¥√«¡ ·≈–ß∫°”‰√¢“¥∑ÿπ

ß∫· ¥ß°“√‡ª≈’ˬπ·ª≈ß à«π¢ÕߺŸâ∂◊ÕÀÿâπ ·≈–ß∫°√–· ‡ß‘𠥇©æ“–¢Õß∫√‘…—∑ ”À√—∫ªï ‘Èπ ÿ¥«—π‡¥’¬«°—π

¢Õß·μà≈–ªï ´÷ËߺŸâ∫√‘À“√¢Õß°‘®°“√‡ªìπºŸâ√—∫º‘¥™Õ∫μàÕ§«“¡∂Ÿ°μâÕß·≈–§√∫∂â«π¢ÕߢâÕ¡Ÿ≈„πß∫°“√‡ß‘π‡À≈à“π’È

 à«π¢â“懮ⓇªìπºŸâ√—∫º‘¥™Õ∫„π°“√· ¥ß§«“¡‡ÀÁπμàÕß∫°“√‡ß‘π¥—ß°≈à“«®“°º≈°“√μ√«® Õ∫¢Õߢâ“懮â“

¢â“懮Ⓣ¥âªØ‘∫—μ‘ß“πμ√«® Õ∫μ“¡¡“μ√∞“π°“√ Õ∫∫—≠™’∑’Ë√—∫√Õß∑—Ë«‰ª ´÷Ëß°”Àπ¥„Àâ¢â“懮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∑’ˇªìπ®”π«π‡ß‘π·≈–

°“√‡ªî¥‡º¬¢âÕ¡Ÿ≈„πß∫°“√‡ß‘π °“√ª√–‡¡‘𧫓¡‡À¡“– ¡¢ÕßÀ≈—°°“√∫—≠™’∑’Ë°‘®°“√„™â ·≈–ª√–¡“≥°“√

‡°’ˬ«°—∫√“¬°“√∑“ß°“√‡ß‘π∑’ˇªìπ “√– ”§—≠ ´÷ËߺŸâ∫√‘À“√‡ªìπºŸâ®—¥∑”¢÷Èπ μ≈Õ¥®π°“√ª√–‡¡‘π∂÷ߧ«“¡‡À¡“– ¡

¢Õß°“√· ¥ß√“¬°“√∑’Ë𔇠πÕ„πß∫°“√‡ß‘π‚¥¬√«¡ ¢â“懮Ⓡ™◊ËÕ«à“°“√μ√«® Õ∫¥—ß°≈à“«„Àâ¢âÕ √ÿª∑’ˇªìπ‡°≥±å

Õ¬à“߇À¡“– ¡„π°“√· ¥ß§«“¡‡ÀÁπ¢Õߢâ“懮â“

¢â“懮ⓇÀÁπ«à“ ß∫°“√‡ß‘π√«¡·≈–ß∫°“√‡ß‘π‡©æ“–¢Õß∫√‘…—∑¢â“ßμâππ’È· ¥ß∞“π–°“√‡ß‘π¢Õß∫√‘…—∑

‡Õ  ·Õπ¥å æ’ ́ ‘𥑇§∑ ®”°—¥ (¡À“™π) ·≈–∫√‘…—∑¬àÕ¬ ·≈–¢Õß∫√‘…—∑ ‡Õ  ·Õπ¥å æ’ ́ ‘𥑇§∑ ®”°—¥ (¡À“™π) ≥

«—π∑’Ë 31 ∏—𫓧¡ 2548 ·≈– 2547 º≈°“√¥”‡π‘πß“π·≈–°√–· ‡ß‘π ¥ ”À√—∫ªï ‘Èπ ÿ¥«—π‡¥’¬«°—π¢Õß·μà≈–ªï

‚¥¬∂Ÿ°μâÕßμ“¡∑’˧«√„π “√– ”§—≠μ“¡À≈—°°“√∫—≠™’∑’Ë√—∫√Õß∑—Ë«‰ª

‡æ‘Ë¡»—°¥‘Ï ®‘√–®—°√«—≤π“

°√ÿ߇∑æ¡À“π§√ ºŸâ Õ∫∫—≠™’√—∫Õπÿ≠“μ‡≈¢∑–‡∫’¬π 3427

«—π∑’Ë 17 °ÿ¡¿“æ—π∏å 2549  ”π—°ß“π¥’≈Õ¬∑å ∑Ÿâ™ ‚∏¡—∑ ÿ ‰™¬¬»

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63

∫√‘…—∑ ‡Õ  ·Õπ¥å æ’ ´‘𥑇§∑ ®”°—¥ (¡À“™π) ·≈–∫√‘…—∑¬àÕ¬ß∫¥ÿ≈

≥ «—π∑’Ë 31 ∏—𫓧¡ 2548 ·≈– 2547

Àπ૬ : ∫“∑ß∫°“√‡ß‘π√«¡ ß∫°“√‡ß‘π‡©æ“–∫√‘…—∑

2548 2547 2548 2547 ‘π∑√—æ¬å

 ‘π∑√—æ¬åÀ¡ÿπ‡«’¬π

‡ß‘π ¥·≈–√“¬°“√‡∑’¬∫‡∑à“‡ß‘π ¥ (À¡“¬‡Àμÿ¢âÕ 4) 442,198,664 297,549,825 340,814,454 189,555,854

‡ß‘π≈ß∑ÿπ™—Ë«§√“« (À¡“¬‡Àμÿ¢âÕ 5) 32,876,762 3,793,784 23,900,000 ›

≈Ÿ°Àπ’È°“√§â“ -  ÿ∑∏‘ (À¡“¬‡Àμÿ¢âÕ 6 ·≈–¢âÕ 15) 100,590,239 94,396,854 91,760,175 88,388,005

‡ß‘π„Àâ°Ÿâ¬◊¡√–¬– —Èπ·°à°‘®°“√∑’ˇ°’ˬ«¢âÕß°—π -  ÿ∑∏‘

(À¡“¬‡Àμÿ¢âÕ 15) 7,813,040 8,787,551 2,867,100 796,084

 ‘π§â“§ß‡À≈◊Õ -  ÿ∑∏‘ (À¡“¬‡Àμÿ¢âÕ 7) 120,668,163 116,344,207 115,256,474 111,484,961

 ‘π∑√—æ¬åÀ¡ÿπ‡«’¬πÕ◊Ëπ 51,448,380 42,866,282 8,293,014 4,804,670

√«¡ ‘π∑√—æ¬åÀ¡ÿπ‡«’¬π 755,595,248 563,738,503 582,891,217 395,029,574

 ‘π∑√—æ¬å‰¡àÀ¡ÿπ‡«’¬π

‡ß‘π≈ß∑ÿπ´÷Ëß∫—π∑÷°‚¥¬«‘∏’ à«π‰¥â‡ ’¬

(À¡“¬‡Àμÿ¢âÕ 8 ·≈–¢âÕ 15) 46,483,568 44,162,014 214,067,830 235,266,755

‡ß‘π≈ß∑ÿπ√–¬–¬“«Õ◊Ëπ (À¡“¬‡Àμÿ¢âÕ 9 ·≈–¢âÕ 20) 24,529,881 25,730,374 2,540,260 2,540,260

‡ß‘π„Àâ°Ÿâ¬◊¡√–¬–¬“«Õ◊Ëπ 364,222 423,725 309,500 383,300

∑’Ë¥‘π Õ“§“√·≈–Õÿª°√≥å -  ÿ∑∏‘

(À¡“¬‡Àμÿ¢âÕ 10) 1,022,587,066 884,830,438 954,537,835 812,248,155

 ‘π∑√—æ¬å‰¡à¡’μ—«μπ -  ÿ∑∏‘ (À¡“¬‡Àμÿ¢âÕ 11) 166,443,974 176,944,393 127,065,161 131,273,959

 ‘π∑√—æ¬å‰¡àÀ¡ÿπ‡«’¬πÕ◊Ëπ 68,530,751 53,059,863 62,949,043 49,806,699

√«¡ ‘π∑√—æ¬å‰¡àÀ¡ÿπ‡«’¬π 1,328,939,462 1,185,150,807 1,361,469,629 1,231,519,128

√«¡ ‘π∑√—æ¬å 2,084,534,710 1,748,889,310 1,944,360,846 1,626,548,702

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

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S&P SYNDICATE PUBLIC COMPANY LIMITEDANNUAL REPORT 2005

∫√‘…—∑ ‡Õ  ·Õπ¥å æ’ ´‘𥑇§∑ ®”°—¥ (¡À“™π) ·≈–∫√‘…—∑¬àÕ¬ß∫¥ÿ≈ (μàÕ)

≥ «—π∑’Ë 31 ∏—𫓧¡ 2548 ·≈– 2547

Àπ૬ : ∫“∑ß∫°“√‡ß‘π√«¡ ß∫°“√‡ß‘π‡©æ“–∫√‘…—∑

2548 2547 2548 2547Àπ’È ‘π·≈– à«π¢ÕߺŸâ∂◊ÕÀÿâπ

Àπ’È ‘πÀ¡ÿπ‡«’¬π

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

®“° ∂“∫—π°“√‡ß‘π 54,223,358 40,336,255 50,000,000 31,717,424

‡®â“Àπ’È°“√§â“ (À¡“¬‡Àμÿ¢âÕ 15) 227,845,597 213,512,423 204,684,218 195,126,649

‡ß‘π°Ÿâ¬◊¡√–¬– —Èπ®“°°‘®°“√∑’ˇ°’ˬ«¢âÕß°—π (À¡“¬‡Àμÿ¢âÕ 15) 354,253 394,547 473,634 428,695

¿“…’‡ß‘π‰¥â§â“ß®à“¬ 46,291,864 40,167,708 38,387,790 33,802,272

§à“„™â®à“¬§â“ß®à“¬ 125,491,055 116,711,091 100,423,718 90,231,731

Àπ’È ‘πÀ¡ÿπ‡«’¬πÕ◊Ëπ 55,753,800 33,273,888 37,519,631 26,934,623

√«¡Àπ’È ‘πÀ¡ÿπ‡«’¬π 509,959,927 444,395,912 431,488,991 378,241,394

Àπ’È ‘π‰¡àÀ¡ÿπ‡«’¬π

Àπ’È ‘π‰¡àÀ¡ÿπ‡«’¬πÕ◊Ëπ 1,893,090 › › ›

√«¡Àπ’È ‘π‰¡àÀ¡ÿπ‡«’¬π 1,893,090 › › ›

√«¡Àπ’È ‘π 511,853,017 444,395,912 431,488,991 378,241,394

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

Page 55: S&P : Annual Report 2005

65

∫√‘…—∑ ‡Õ  ·Õπ¥å æ’ ´‘𥑇§∑ ®”°—¥ (¡À“™π) ·≈–∫√‘…—∑¬àÕ¬ß∫¥ÿ≈ (μàÕ)

≥ «—π∑’Ë 31 ∏—𫓧¡ 2548 ·≈– 2547

Àπ૬ : ∫“∑ß∫°“√‡ß‘π√«¡ ß∫°“√‡ß‘π‡©æ“–∫√‘…—∑

2548 2547 2548 2547Àπ’È ‘π·≈– à«π¢ÕߺŸâ∂◊ÕÀÿâπ (μàÕ)

 à«π¢ÕߺŸâ∂◊ÕÀÿâπ

∑ÿπ‡√◊ÕπÀÿâπ (À¡“¬‡Àμÿ¢âÕ 12 ·≈–¢âÕ 13)

∑ÿπ®¥∑–‡∫’¬π

Àÿâπ “¡—≠ 105,000,000 Àÿâπ

¡Ÿ≈§à“Àÿâπ≈– 5 ∫“∑ 525,000,000 525,000,000 525,000,000 525,000,000

∑ÿπ∑’ËÕÕ°·≈–™”√–·≈â«

Àÿâπ “¡—≠ 86,953,800 Àÿâπ

¡Ÿ≈§à“Àÿâπ≈– 5 ∫“∑ ™”√–§√∫·≈â« 434,769,000 434,769,000

·≈– 74,854,300 Àÿâπ

¡Ÿ≈§à“Àÿâπ≈– 5 ∫“∑ ™”√–§√∫·≈â« 374,271,500 374,271,500

 à«π‡°‘π¡Ÿ≈§à“Àÿâπ “¡—≠ (À¡“¬‡Àμÿ¢âÕ 12 ·≈–¢âÕ 13) 459,458,400 302,164,900 459,458,400 302,164,900

º≈μà“ß®“°°“√·ª≈ߧà“ß∫°“√‡ß‘π

¢Õß∫√‘…—∑¬àÕ¬„πμà“ߪ√–‡∑» 14,474,896 20,471,528 14,474,896 20,471,528

√“¬°“√¢“¥∑ÿπ∑’ˬ—߉¡à‡°‘¥¢÷Èπ®“°°“√‡ª≈’ˬπ·ª≈ß¡Ÿ≈§à“

¢Õ߇ߑπ≈ß∑ÿπ (100,000) › (100,000) ›

°”‰√ – ¡

®—¥ √√·≈â«

 ”√Õßμ“¡°ÆÀ¡“¬

(À¡“¬‡Àμÿ¢âÕ 16 ·≈–¢âÕ 17) 37,427,150 35,888,500 37,427,150 35,888,500

¬—߉¡à‰¥â®—¥ √√ 566,842,409 515,510,880 566,842,409 515,510,880

√«¡ à«π¢ÕߺŸâ∂◊ÕÀÿâπ∫√‘…—∑„À≠à 1,512,871,855 1,248,307,308 1,512,871,855 1,248,307,308

 à«π¢ÕߺŸâ∂◊ÕÀÿâπ à«ππâÕ¬ 59,809,838 56,186,090 › ›

√«¡ à«π¢ÕߺŸâ∂◊ÕÀÿâπ 1,572,681,693 1,304,493,398 1,512,871,855 1,248,307,308

√«¡Àπ’È ‘π·≈– à«π¢ÕߺŸâ∂◊ÕÀÿâπ 2,084,534,710 1,748,889,310 1,944,360,846 1,626,548,702

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

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S&P SYNDICATE PUBLIC COMPANY LIMITEDANNUAL REPORT 2005

∫√‘…—∑ ‡Õ  ·Õπ¥å æ’ ´‘𥑇§∑ ®”°—¥ (¡À“™π) ·≈–∫√‘…—∑¬àÕ¬ß∫°”‰√¢“¥∑ÿπ

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

Àπ૬ : ∫“∑ß∫°“√‡ß‘π√«¡ ß∫°“√‡ß‘π‡©æ“–∫√‘…—∑

2548 2547 2548 2547√“¬‰¥â

√“¬‰¥â®“°°“√¢“¬·≈–°“√„Àâ∫√‘°“√ 3,361,306,903 2,994,692,478 2,728,346,303 2,474,164,559

√“¬‰¥âÕ◊Ëπ 49,499,704 48,385,496 38,799,833 40,758,013

 à«π·∫àß°”‰√®“°‡ß‘π≈ß∑ÿπμ“¡«‘∏’ à«π‰¥â‡ ’¬

(À¡“¬‡Àμÿ¢âÕ 15) 4,305,786 727,296 32,139,517 18,932,724

√«¡√“¬‰¥â 3,415,112,393 3,043,805,270 2,799,285,653 2,533,855,296

§à“„™â®à“¬

μâπ∑ÿπ¢“¬·≈–μâπ∑ÿπ°“√„Àâ∫√‘°“√ 1,933,030,511 1,737,709,552 1,769,215,752 1,600,807,571

§à“„™â®à“¬„π°“√¢“¬·≈–∫√‘À“√ 1,186,197,455 1,046,099,553 764,560,324 691,880,247

√«¡§à“„™â®à“¬ 3,119,227,966 2,783,809,105 2,533,776,076 2,292,687,818

°”‰√°àÕπ¥Õ°‡∫’Ȭ®à“¬·≈–¿“…’‡ß‘π‰¥â 295,884,427 259,996,165 265,509,577 241,167,478

¥Õ°‡∫’Ȭ®à“¬ (2,120,589) (1,016,198) (1,871,989) (701,423)

¿“…’‡ß‘π‰¥â (80,278,809) (69,791,916) (60,036,909) (57,238,809)

°”‰√À≈—ߥհ‡∫’Ȭ®à“¬·≈–¿“…’‡ß‘π‰¥â 213,485,029 189,188,051 203,600,679 183,227,246

°”‰√ ÿ∑∏‘ à«π¢ÕߺŸâ∂◊ÕÀÿâπ à«ππâÕ¬ (9,884,350) (5,960,805) › ›

°”‰√ ÿ∑∏‘ 203,600,679 183,227,246 203,600,679 183,227,246

°”‰√μàÕÀÿâπ¢—Èπæ◊Èπ∞“π (À¡“¬‡Àμÿ¢âÕ 14) 2.68 2.53 2.68 2.53

°”‰√μàÕÀÿâπª√—∫≈¥ (À¡“¬‡Àμÿ¢âÕ 14) 2.54 2.29 2.54 2.29

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

Page 57: S&P : Annual Report 2005

67

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Page 58: S&P : Annual Report 2005

68

S&P SYNDICATE PUBLIC COMPANY LIMITEDANNUAL REPORT 2005

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Page 59: S&P : Annual Report 2005

69

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Page 60: S&P : Annual Report 2005

70

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Page 61: S&P : Annual Report 2005

71

∫√‘…—∑ ‡Õ  ·Õπ¥å æ’ ´‘𥑇§∑ ®”°—¥ (¡À“™π) ·≈–∫√‘…—∑¬àÕ¬ß∫°√–· ‡ß‘π ¥

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

Àπ૬ : ∫“∑ß∫°“√‡ß‘π√«¡ ß∫°“√‡ß‘π‡©æ“–∫√‘…—∑

2548 2547 2548 2547°√–· ‡ß‘π ¥®“°°‘®°√√¡¥”‡π‘πß“π°”‰√ ÿ∑∏‘ 203,600,679 183,227,246 203,600,679 183,227,246

√“¬°“√ª√—∫°√–∑∫°”‰√ ÿ∑∏‘‡ªìπ‡ß‘π ¥√—∫ (®à“¬)

®“°°‘®°√√¡¥”‡π‘πß“π

 à«π·∫àß°”‰√®“°‡ß‘π≈ß∑ÿπμ“¡«‘∏’ à«π‰¥â‡ ’¬ (4,305,786) (727,296) (32,139,517) (18,932,724)

§à“‡ ◊ËÕ¡√“§“·≈– ‘∑∏‘°“√‡™à“μ—¥®”Àπà“¬ 189,184,118 155,471,095 162,522,316 137,929,371

§à“§«“¡π‘¬¡μ—¥®”Àπà“¬ (206,279) (206,279) (206,279) (206,279)

¢“¥∑ÿπ®“°°“√μ—¥®”Àπà“¬ ‘π∑√—æ¬å‰¡à¡’μ—«μπ › 9,607,514 › 9,607,514

¢“¥∑ÿπ®“°°“√‡≈‘°„™âÕÿª°√≥å 1,678,391 10,942,943 1,678,391 2,931,135

(°”‰√) ¢“¥∑ÿπ®“°°“√¢“¬Õÿª°√≥å 366,412 (1,385,833) 345,169 (1,385,833)

°”‰√ ÿ∑∏‘ à«π∑’ˇªìπ¢ÕߺŸâ∂◊ÕÀÿâπ à«ππâÕ¬ 9,884,350 5,960,805 › ›

°”‰√®“°°“√¥”‡π‘πß“π°àÕπ°“√‡ª≈’ˬπ·ª≈ß

„π ‘π∑√—æ¬å·≈–Àπ’È ‘𥔇π‘πß“π 400,201,885 362,890,195 335,800,759 313,170,430

 ‘π∑√—æ¬å¥”‡π‘πß“π (‡æ‘Ë¡¢÷Èπ) ≈¥≈ß

≈Ÿ°Àπ’È°“√§â“ (6,193,385) (11,848,532) (3,372,170) (18,315,562)

 ‘π§â“§ß‡À≈◊Õ (4,323,956) (30,444,041) (3,771,513) (35,381,037)

 ‘π∑√—æ¬åÀ¡ÿπ‡«’¬πÕ◊Ëπ (8,582,098) (16,327,427) (3,488,344) (53,407)

 ‘π∑√—æ¬å‰¡àÀ¡ÿπ‡«’¬πÕ◊Ëπ (15,470,888) (3,013,070) (13,142,344) (4,032,549)

Àπ’È ‘𥔇π‘πß“π‡æ‘Ë¡¢÷Èπ (≈¥≈ß)

‡®â“Àπ’È°“√§â“ 14,333,174 14,216,520 11,411,871 17,056,926

¿“…’‡ß‘π‰¥â§â“ß®à“¬ 6,124,156 503,970 4,585,519 1,457,234

§à“„™â®à“¬§â“ß®à“¬ 8,779,964 28,525,009 8,337,685 18,769,452

Àπ’È ‘πÀ¡ÿπ‡«’¬πÕ◊Ëπ 17,608,227 (18,123,918) 5,713,322 (11,843,783)

Àπ’È ‘π‰¡àÀ¡ÿπ‡«’¬πÕ◊Ëπ 1,893,090 › › ›

‡ß‘π ¥ ÿ∑∏‘‰¥â¡“®“°°‘®°√√¡¥”‡π‘πß“π 414,370,169 326,378,706 342,074,785 280,827,704

Page 62: S&P : Annual Report 2005

72

S&P SYNDICATE PUBLIC COMPANY LIMITEDANNUAL REPORT 2005

∫√‘…—∑ ‡Õ  ·Õπ¥å æ’ ´‘𥑇§∑ ®”°—¥ (¡À“™π) ·≈–∫√‘…—∑¬àÕ¬ß∫°√–· ‡ß‘π ¥ (μàÕ)

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

Àπ૬ : ∫“∑ß∫°“√‡ß‘π√«¡ ß∫°“√‡ß‘π‡©æ“–∫√‘…—∑

2548 2547 2548 2547°√–· ‡ß‘π ¥®“°°‘®°√√¡≈ß∑ÿπ

‡ß‘π≈ß∑ÿπ™—Ë«§√“«‡æ‘Ë¡¢÷Èπ (29,182,978) (506,686) (24,000,000)›

‡ß‘π„Àâ°Ÿâ¬◊¡√–¬– —Èπ·°à°‘®°“√∑’ˇ°’ˬ«¢âÕß°—π

≈¥≈ß (‡æ‘Ë¡¢÷Èπ) 974,511 6,464,283 (2,071,016) 7,555,976

‡ß‘π≈ß∑ÿπ´÷Ëß∫—π∑÷°‚¥¬«‘∏’ à«π‰¥â‡ ’¬≈¥≈ß › 655,398 › 655,398

‡ß‘π ¥®à“¬‡æ◊ËÕ´◊ÈՇߑπ≈ß∑ÿπ„π∫√‘…—∑¬àÕ¬ › › (499,300) ›

‡ß‘π ¥√—∫®“°°“√≈¥∑ÿπ¢Õß∫√‘…—∑¬àÕ¬ 1,984,232 › 19,219,189 ›

‡ß‘π≈ß∑ÿπ√–¬–¬“«Õ◊Ëπ≈¥≈ß (‡æ‘Ë¡¢÷Èπ) 1,200,493 (22,515,339) › ›

‡ß‘π„Àâ°Ÿâ¬◊¡√–¬–¬“«·°à°‘®°“√∑’ˇ°’ˬ«¢âÕß°—π≈¥≈ß › 1,050,000 › 1,050,000

‡ß‘π„Àâ°Ÿâ¬◊¡√–¬–¬“«Õ◊Ëπ (‡æ‘Ë¡¢÷Èπ) ≈¥≈ß 59,503 60,217 73,800 (125,197)

‡ß‘π ¥®à“¬‡æ◊ËÕ´◊ÈÕ ‘π∑√—æ¬å∂“«√ (313,770,290) (287,329,891) (289,074,645) (241,378,548)

‡ß‘πªíπº≈√—∫ › › 28,621,921 ›

‡ß‘π ¥√—∫®“°°“√¢“¬ ‘π∑√—æ¬å∂“«√ 3,079,952 2,785,047 2,733,645 2,785,047

 ‘π∑√—æ¬å‰¡à¡’μ—«μπ‡æ‘Ë¡¢÷Èπ (8,713,460) (4,219,959) (11,207,794) (130,000)

‡ß‘π ¥ ÿ∑∏‘„™â ‰ª„π°‘®°√√¡≈ß∑ÿπ (344,368,037) (303,556,930) (276,204,200) (229,587,324)

Page 63: S&P : Annual Report 2005

73

∫√‘…—∑ ‡Õ  ·Õπ¥å æ’ ´‘𥑇§∑ ®”°—¥ (¡À“™π) ·≈–∫√‘…—∑¬àÕ¬ß∫°√–· ‡ß‘π ¥ (μàÕ)

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

Àπ૬ : ∫“∑ß∫°“√‡ß‘π√«¡ ß∫°“√‡ß‘π‡©æ“–∫√‘…—∑

2548 2547 2548 2547°√–· ‡ß‘π ¥®“°°‘®°√√¡®—¥À“‡ß‘π

‡ß‘π°Ÿâ¬◊¡√–¬– —Èπ®“° ∂“∫—π°“√‡ß‘π‡æ‘Ë¡¢÷Èπ 13,887,103 36,217,924 18,282,576 31,717,424

‡ß‘π°Ÿâ¬◊¡√–¬– —Èπ®“°°‘®°“√∑’ˇ°’ˬ«¢âÕß°—π

‡æ‘Ë¡¢÷Èπ (≈¥≈ß) (40,294) (1,194,658) 44,939 (1,791,300)

‡ß‘π ¥√—∫®“°°“√‡æ‘Ë¡∑ÿπ 217,791,000 55,391,400 217,791,000 55,391,400

‡ß‘πªíπº≈®à“¬ (150,730,500) (172,418,250) (150,730,500) (172,418,250)

‡ß‘π ¥ ÿ∑∏‘‰¥â¡“ („™â ‰ª) „π°‘®°√√¡®—¥À“‡ß‘π 80,907,309 (82,003,584) 85,388,015 (87,100,726)

 à«πª√—∫ª√ÿß®“°°“√·ª≈ߧà“ß∫°“√‡ß‘π

¢Õß∫√‘…—∑¬àÕ¬„πμà“ߪ√–‡∑» (6,260,602) 1,080,522 › ›

‡ß‘π ¥·≈–√“¬°“√‡∑’¬∫‡∑à“‡ß‘π ¥‡æ‘Ë¡¢÷Èπ (≈¥≈ß)  ÿ∑∏‘ 144,648,839 (58,101,286) 151,258,600 (35,860,346)

‡ß‘π ¥·≈–√“¬°“√‡∑’¬∫‡∑à“‡ß‘π ¥μâπªï 297,549,825 355,651,111 189,555,854 225,416,200

‡ß‘π ¥·≈–√“¬°“√‡∑’¬∫‡∑à“‡ß‘π ¥ª≈“¬ªï 442,198,664 297,549,825 340,814,454 189,555,854

¢âÕ¡Ÿ≈‡æ‘Ë¡‡μ‘¡ª√–°Õ∫°√–· ‡ß‘π ¥‡ß‘π ¥®à“¬„π√–À«à“ߪï

¥Õ°‡∫’Ȭ®à“¬ 1,940,315 1,050,794 1,691,715 701,423

¿“…’‡ß‘π‰¥â 74,151,713 69,289,896 55,451,391 55,781,575

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

Page 64: S&P : Annual Report 2005

74

S&P SYNDICATE PUBLIC COMPANY LIMITEDANNUAL REPORT 2005

∫√‘…—∑ ‡Õ  ·Õπ¥å æ’ ´‘𥑇§∑ ®”°—¥ (¡À“™π) ·≈–∫√‘…—∑¬àÕ¬À¡“¬‡Àμÿª√–°Õ∫ß∫°“√‡ß‘π

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

1. ¢âÕ¡Ÿ≈∑—Ë«‰ª

∫√‘…—∑ ‡Õ  ·Õπ¥å æ’ ´‘𥑇§∑ ®”°—¥ (¡À“™π) ®—¥μ—Èߢ÷Èπμ“¡ª√–¡«≈°ÆÀ¡“¬·æàß·≈–æ“≥‘™¬å¢Õß

ª√–‡∑»‰∑¬‡ªìπ∫√‘…—∑®”°—¥ ‡¡◊ËÕ«—π∑’Ë 14 μÿ≈“§¡ 2516 ·≈–®¥∑–‡∫’¬π·ª√ ¿“懪ìπ∫√‘…—∑¡À“™π ‡¡◊ËÕ«—π∑’Ë

20 ‡¡…“¬π 2537 ‚¥¬¡’∑’Ëμ—Èß ”π—°ß“π„À≠à Õ¬Ÿà∑’ˇ≈¢∑’Ë 457-457/6 ´Õ¬ ÿ¢ÿ¡«‘∑ 55 (´Õ¬∑ÕßÀ≈àÕ) ∂ππ ÿ¢ÿ¡«‘∑

·¢«ß§≈Õßμ—π‡Àπ◊Õ ‡¢μ«—≤π“ °√ÿ߇∑æœ 10110

∫√‘…—∑ ‡Õ  ·Õπ¥å æ’ ´‘𥑇§∑ ®”°—¥ (¡À“™π) ‡ªìπ∫√‘…—∑·¡à¢Õß°≈ÿà¡∫√‘…—∑„π‡§√◊Õ ∑”∏ÿ√°‘®À≈—°§◊Õ

°“√ª√–°Õ∫°‘®°“√√â“πÕ“À“√·≈–‡∫‡°Õ√’˪√–¡“≥ 252  “¢“ ·≈– 212  “¢“ „πªï 2548 ·≈– 2547

μ“¡≈”¥—∫ ∑—Èß„πª√–‡∑»·≈–μà“ߪ√–‡∑» μ≈Õ¥®π‡ªìπºŸâº≈‘μ·≈–®”Àπà“¬º≈‘μ¿—≥±å‡∫‡°Õ√’Ë Õ“À“√ ”‡√Á®√Ÿª·™à·¢Áß

√«¡∑—Èߺ≈‘μ¿—≥±åÕ“À“√·≈–∫√‘°“√∑’ˇ°’ˬ«‡π◊ËÕßÕ◊ËπÊ ‡™àπ ∫√‘°“√®—¥‡≈’ȬßπÕ° ∂“π∑’Ë ‡ªìπμâπ

¢âÕ¡Ÿ≈‡æ‘Ë¡‡μ‘¡‡°’ˬ«°—∫®”π«π·≈–§à“„™â®à“¬æπ—°ß“π

®”π«πæπ—°ß“π ≥ «—π∑’Ë 31 ∏—𫓧¡ 2548 ·≈– 2547 ·≈–§à“„™â®à“¬æπ—°ß“π  ”À√—∫ªï ‘Èπ ÿ¥«—π∑’Ë

31 ∏—𫓧¡ 2548 ·≈– 2547 ´÷Ëß· ¥ß√«¡Õ¬Ÿà„πμâπ∑ÿπ¢“¬·≈–μâπ∑ÿπ°“√„Àâ∫√‘°“√·≈–§à“„™â®à“¬„π°“√¢“¬·≈–

∫√‘À“√ ¡’¥—ßπ’È

®”π«πæπ—°ß“π §à“„™â®à“¬æπ—°ß“π≈â“π∫“∑

2548 2547 2548 2547∫√‘…—∑ ‡Õ  ·Õπ¥å æ’ ´‘𥑇§∑ ®”°—¥ (¡À“™π) 4,051 3,806 652.53 565.21

∫√‘…—∑ ‡Õ  ·Õπ¥å æ’ ´‘𥑇§∑ ®”°—¥ (¡À“™π) ·≈–∫√‘…—∑¬àÕ¬ 4,130 3,902 835.75 724.59

2. ‡°≥±å°“√®—¥∑”ß∫°“√‡ß‘π·≈–À≈—°°“√®—¥∑”ß∫°“√‡ß‘π√«¡

ß∫°“√‡ß‘ππ’È ‰¥â®—¥∑”‡ªìπ‡ß‘π∫“∑·≈–‡ªìπ¿“…“‰∑¬μ“¡À≈—°°“√∫—≠™’∑’Ë√—∫√Õß∑—Ë«‰ª¢Õߪ√–‡∑»‰∑¬ ∑—Èßπ’È

ß∫°“√‡ß‘ππ’È¡’«—μ∂ÿª√– ß§å∑’Ë®—¥∑”¢÷Èπ‡æ◊ËÕ· ¥ß∞“π–°“√‡ß‘π º≈°“√¥”‡π‘πß“π·≈–°√–· ‡ß‘π ¥μ“¡À≈—°°“√

∫—≠™’∑’Ë√—∫√Õß∑—Ë«‰ª¢Õߪ√–‡∑»‰∑¬‡∑à“π—Èπ

ß∫°“√‡ß‘π¢Õß∫√‘…—∑‰¥â®—¥∑”¢÷Èπμ“¡ª√–°“»¢Õß°√¡∑–‡∫’¬π°“√§â“ (ªí®®ÿ∫—π§◊Õ °√¡æ—≤π“∏ÿ√°‘®°“√§â“)

≈ß«—π∑’Ë 14 °—𬓬π 2544 ‡√◊ËÕß °”Àπ¥√“¬°“√¬àÕ∑’ËμâÕß¡’„πß∫°“√‡ß‘π æ.». 2544 πÕ°®“°π’Èß∫°“√‡ß‘π¢Õß

∫√‘…—∑‰¥â®—¥∑”¢÷Èπμ“¡¢âÕ∫—ߧ—∫¢Õßμ≈“¥À≈—°∑√—æ¬å·Ààߪ√–‡∑»‰∑¬ ≈ß«—π∑’Ë 22 ¡°√“§¡ 2544 ‡√◊ËÕß°“√®—¥∑”

·≈– àßß∫°“√‡ß‘π·≈–√“¬°“√‡°’ˬ«°—∫∞“π–°“√‡ß‘π·≈–º≈°“√¥”‡π‘πß“π¢Õß∫√‘…—∑®¥∑–‡∫’¬π æ.». 2544

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‡æ◊ËÕ§«“¡ –¥«°¢ÕߺŸâÕà“πß∫°“√‡ß‘π∫√‘…—∑‰¥â®—¥∑”ß∫°“√‡ß‘π©∫—∫¿“…“Õ—ß°ƒ…¢÷Èπ®“°ß∫°“√‡ß‘π©∫—∫

¿“…“‰∑¬π’È ´÷Ë߉¥â𔇠πÕ‡æ◊ËÕ«—μ∂ÿª√– ß§å¢Õß°“√√“¬ß“π∑“ß°“√‡ß‘π‡æ◊ËÕ„™â„πª√–‡∑»

ß∫°“√‡ß‘π√«¡ ”À√—∫ªï ‘Èπ ÿ¥«—π∑’Ë 31 ∏—𫓧¡ ‰¥â√«¡∫—≠™’¢Õß∫√‘…—∑ ‡Õ  ·Õπ¥å æ’ ´‘𥑇§∑ ®”°—¥

(¡À“™π) (ç∫√‘…—∑é) ·≈–∫√‘…—∑¬àÕ¬ ´÷Ëß∫√‘…—∑¡’Õ”π“®§«∫§ÿ¡À√◊Õ∂◊ÕÀÿâπ‡°‘π°«à“√âÕ¬≈–Àâ“ ‘∫¢ÕßÀÿâπ∑’Ë¡’ ‘∑∏‘

ÕÕ°‡ ’¬ß„π∫√‘…—∑¬àÕ¬¥—ß°≈à“«¥—ßμàÕ‰ªπ’È

ª√–‡¿∑∏ÿ√°‘® ®¥∑–‡∫’¬π„π Õ—μ√“°“√∂◊ÕÀÿâπ (√âÕ¬≈–)≥ «—π∑’Ë 31 ∏—𫓧¡2548 2547

∫√‘…—∑¬àÕ¬∫√‘…—∑ ‡Õ  ·Õπ¥å æ’ §‘∑‡™àπ ®”°—¥ À¬ÿ¥¥”‡π‘πß“π ª√–‡∑»‰∑¬ 99.99 99.99

∫√‘…—∑ ‡Õ  ·Õπ¥å æ’ ‡∫‡°Õ√’Ë ‚ª√¥—° å ®”°—¥ (3) ªî¥°‘®°“√ ª√–‡∑»‰∑¬ › 99.99

∫√‘…—∑ ‡Õ  ·Õπ¥å æ’ ¥‘ ∑√‘∫‘«™—Ëπ ·Õπ¥å ‡´≈ å ®”°—¥ (3) ªî¥°‘®°“√ ª√–‡∑»‰∑¬ › 99.99

∫√‘…—∑ ‡Õ  ·Õπ¥å æ’ ·ø√π‰™πå´‘Ëß ®”°—¥ (3) ªî¥°‘®°“√ ª√–‡∑»‰∑¬ › 99.20

∫√‘…—∑ ‡Õ  ·Õπ¥å æ’ ‚°≈‡∫‘≈ ®”°—¥ Holding Company ª√–‡∑»‰∑¬ 80.00 80.00

∫√‘…—∑ ‡ √’«—≤πå øŸÑ¥ å ®”°—¥ (1) À¬ÿ¥¥”‡π‘πß“π ª√–‡∑»‰∑¬ 99.96 99.96

∫√‘…—∑ ‡Õ  ·Õπ¥å æ’ ‰¡‡πÕ√å øŸÑ¥ ®”°—¥ (2) „À⇙à“æ◊Èπ∑’ËÕ“§“√ ª√–‡∑»‰∑¬ 99.93 ›

(1) „π‡¥◊Õπμÿ≈“§¡ 2547 ∫√‘…—∑¥—ß°≈à“«‰¥âÀ¬ÿ¥¥”‡π‘π°“√ ·≈–‰¥â‚Õπ∫ÿ§≈“°√·≈– ‘∑∏‘„π°“√¥”‡π‘πß“π∑—ÈßÀ¡¥„Àâ·°à∫√‘…—∑ ‡Õ  ·Õπ¥å æ’ ‘́𥑇§∑

®”°—¥ (¡À“™π)

(2) ∫√‘…—∑‰¥â ◊́ÈÕÀÿâπ‡æ‘Ë¡®“°ºŸâ∂◊ÕÀÿâπ‡¥‘¡‡ªìπ®”π«π‡ß‘π 499,300 ∫“∑ „π‰μ√¡“ ∑’Ë “¡ªï 2548

(3) ‡¡◊ËÕ«—π∑’Ë 24  ‘ßÀ“§¡ 2548 ∑’˪√–™ÿ¡«‘ “¡—≠ºŸâ∂◊ÕÀÿâπ¢Õß∫√‘…—∑ ‡Õ  ·Õπ¥å æ’ ‡∫‡°Õ√’Ë ‚ª√¥—° å ®”°—¥ ∫√‘…—∑ ‡Õ  ·Õπ¥å æ’ ¥‘ ∑√‘∫‘«™—Ëπ ·Õπ¥å ‡´≈≈å

®”°—¥ ·≈–∫√‘…—∑ ‡Õ  ·Õπ¥å æ’ ·ø√π‰™πå ‘́Ëß ®”°—¥ ´÷Ë߇ªìπ∫√‘…—∑¬àÕ¬ ‰¥â¡’¡μ‘„Àâ‡≈‘°∫√‘…—∑ ÷́ËßμàÕ¡“‡¡◊ËÕ«—π∑’Ë 12 °—𬓬π 2548 ∑’˪√–™ÿ¡«‘ “¡—≠

‰¥â¡’¡μ‘Õπÿ¡—쑬◊π¬—π„π°“√®¥∑–‡∫’¬π‡≈‘°∫√‘…—∑ ·≈–‰¥â¥”‡π‘π°“√¬◊Ëπ§”¢Õ‡≈‘°∫√‘…—∑μàÕ ”π—°ß“π∑–‡∫’¬πÀÿâπ à«π∫√‘…—∑°√–∑√«ßæ“≥‘™¬å·≈â« ‡¡◊ËÕ«—π∑’Ë

26 °—𬓬π 2548

πÕ°®“°π’È ß∫°“√‡ß‘π√«¡¬—߉¥â√«¡ß∫°“√‡ß‘π¢Õß∫√‘…—∑¬àÕ¬„πμà“ߪ√–‡∑»´÷Ëß∂◊ÕÀÿâπ‚¥¬∫√‘…—∑ ‡Õ  ·Õπ¥å

æ’ ‚°≈‡∫‘≈ ®”°—¥ ‚¥¬∫√‘…—∑¡’Õ”π“®Àπâ“∑’Ë„π°“√∫√‘À“√·≈–„À⧫“¡™à«¬‡À≈◊Õ∑“ߥâ“π‡∑§π‘§„Àâ°—∫√â“πÕ“À“√‰∑¬

´÷Ëß∫√‘À“√‚¥¬∫√‘…—∑¬àÕ¬¥—ß°≈à“«¿“¬„μâ¢âÕμ°≈ß√à«¡°—π ¡’¥—ßμàÕ‰ªπ’È

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ª√–‡¿∑∏ÿ√°‘® ®¥∑–‡∫’¬π ∂◊ÕÀÿâπ‚¥¬∫√‘…—∑ ‡Õ  ·Õπ¥å æ’ ‚°≈‡∫‘≈ ®”°—¥„πª√–‡∑» „πÕ—μ√“√âÕ¬≈– ≥ «—π∑’Ë 31 ∏—𫓧¡

2548 2547∂◊ÕÀÿâπ‚¥¬∫√‘…—∑ ‡Õ  ·Õπ¥å æ’ ‚°≈‡∫‘≈ ®”°—¥

∫√‘…—∑ ‡Õ  ·Õπ¥å æ’ ‡√ ∑—«√Õß∑å ®”°—¥ √â“πÕ“À“√ Õ—ß°ƒ… 96.00 96.00

∫√‘…—∑ ¿—∑√“ (‡®π’«“) ®”°—¥ √â“πÕ“À“√  «‘μ‡´Õ√å·≈π¥å 62.00 62.00

∫√‘…—∑ ∏’¡ øŸÑ¥ å (æ’∑’Õ’) ®”°—¥ √â“πÕ“À“√  ‘ߧ‚ª√å 50.00 50.00

∫√‘…—∑  ¬“¡ §‘∑‡™àπ §√Õ ‡«¬å

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∫√‘…—∑ ¿—∑√“ ‰μâÀ«—π ®”°—¥ √â“πÕ“À“√ ‰μâÀ«—π 50.00 50.00

∫√‘…—∑ æ“∑‘‚Õ Õ‘π‡μÕ√å‡π™—Ëπ·π≈ ®”°—¥ √â“πÕ“À“√ ‰μâÀ«—π 55.00 55.00

∂◊ÕÀÿâπ‚¥¬∫√‘…—∑ ∏’¡ øŸÑ¥ å (æ’∑’Õ’) ®”°—¥ ª√–‡∑» ‘ߧ‚ª√å∫√‘…—∑  ¬“¡ §‘∑‡™àπ ‡Õ ¥’‡ÕÁπ ∫’‡Õ™¥’ ®”°—¥ √â“πÕ“À“√ ¡“‡≈‡ ’́¬ 99.99 99.99

√“¬°“√∫—≠™’√–À«à“ß∫√‘…—∑·≈–∫√‘…—∑¬àÕ¬∑’Ë¡’π—¬ ”§—≠‰¥â∂Ÿ°μ—¥∫—≠™’ÕÕ°®“°ß∫°“√‡ß‘π√«¡π’È·≈â«

ß∫°“√‡ß‘π√«¡¢Õß∫√‘…—∑·≈–∫√‘…—∑¬àÕ¬ ”À√—∫ªï ‘Èπ ÿ¥«—π∑’Ë 31 ∏—𫓧¡ 2548 ·≈– 2547 ‰¡à‰¥â√«¡

ß∫°“√‡ß‘π¢Õß∫√‘…—∑  ¬“¡ §‘∑‡™àπ ‡Õ ¥’‡ÕÁπ ∫’‡Õ™¥’ ®”°—¥ ´÷Ë߇ªìπ∫√‘…—∑¬àÕ¬·ÀàßÀπ÷Ëß∑’Ë®¥∑–‡∫’¬π„πª√–‡∑»

¡“‡≈‡ ’́¬ ‚¥¬∫√‘…—∑∂◊ÕÀÿâπ‚¥¬∫√‘…—∑ ∏’¡ øŸÑ¥ å (æ’∑’Õ’) ®”°—¥ ‡π◊ËÕß®“°®”π«π‡ß‘π‰¡à¡’ “√– ”§—≠ ≥ «—π∑’Ë 31

∏—𫓧¡ 2548 ·≈– 2547 ‡ß‘π≈ß∑ÿπ„π∫√‘…—∑¬àÕ¬¥—ß°≈à“«¡’¡Ÿ≈§à“μ“¡∫—≠™’‡ªìπ®”π«π‡ß‘π 0.24 ≈â“π∫“∑

 ‘π∑√—æ¬å ‡ß‘π≈ß∑ÿπ´÷Ëß∫—π∑÷°‚¥¬«‘∏’ à«π‰¥â‡ ’¬ ≥ «—π∑’Ë 31 ∏—𫓧¡ 2548 ·≈– 2547 √“¬‰¥â·≈–

 à«π·∫àß°”‰√ (¢“¥∑ÿπ) ®“°‡ß‘π≈ß∑ÿπμ“¡«‘∏’ à«π‰¥â‡ ’¬¢Õß∫√‘…—∑¬àÕ¬¥—ß°≈à“«¢â“ßμâπ·≈–∫√‘…—∑√à«¡  ”À√—∫ªï

 ‘Èπ ÿ¥«—π∑’Ë 31 ∏—𫓧¡ 2548 ·≈– 2547 ¡’®”π«π§‘¥‡ªìπ√âÕ¬≈–¢Õß ‘π∑√—æ¬å√«¡  ‘π∑√—æ¬å ÿ∑∏‘ (¬Õ¥

 ‘π∑√—æ¬å√«¡À—°¥â«¬¬Õ¥Àπ’È ‘π√«¡) √“¬‰¥â√«¡·≈–°”‰√ ÿ∑∏‘ μ“¡≈”¥—∫ „πß∫°“√‡ß‘π√«¡ ¥—ß √ÿªμàÕ‰ªπ’È

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ß∫°“√‡ß‘π√«¡™◊ËÕ∫√‘…—∑  ‘π∑√—æ¬å¢Õß ‡ß‘π≈ß∑ÿπ ÷́Ëß∫—π∑÷° √“¬‰¥â  à«π·∫àß°”‰√ (¢“¥∑ÿπ)

∫√‘…—∑¬àÕ¬ ‚¥¬«‘∏’ à«π‰¥â‡ ’¬ §‘¥‡ªìπ√âÕ¬≈– §‘¥‡ªìπ√âÕ¬≈–¢Õߧ‘¥‡ªìπ√âÕ¬≈– §‘¥‡ªìπ√âÕ¬≈–¢Õß ¢Õß√“¬‰¥â√«¡ °”‰√ ÿ∑∏‘

¢Õß ‘π∑√—æ¬å√«¡  ‘π∑√—æ¬å ÿ∑∏‘  ”À√—∫ªï  ”À√—∫ªï≥ «—π∑’Ë ≥ «—π∑’Ë  ‘Èπ ÿ¥«—π∑’Ë  ‘Èπ ÿ¥«—π∑’Ë

31 ∏—𫓧¡ 31 ∏—𫓧¡ 31 ∏—𫓧¡ 31 ∏—𫓧¡2548 2547 2548 2547 2548 2547 2548 2547

∂◊ÕÀÿâπ‚¥¬∫√‘…—∑ ‡Õ  ·Õπ¥å æ’‘́𥑇§∑ ®”°—¥ (¡À“™π)

∫√‘…—∑¬àÕ¬∫√‘…—∑ ‡Õ  ·Õπ¥å æ’ §‘∑‡™àπ ®”°—¥ 0.34 1.02 › › 0.01 0.01 › ›

∫√‘…—∑ ‡Õ  ·Õπ¥å æ’ ‡∫‡°Õ√’Ë

‚ª√¥—° å ®”°—¥ (3) › 0.27 › › › › › ›

∫√‘…—∑ ‡Õ  ·Õπ¥å æ’ ¥‘ ∑√‘∫‘«™—Ëπ

·Õπ¥å ‡´≈≈å ®”°—¥ (3) › 0.06 › › › › › ›

∫√‘…—∑ ‡Õ  ·Õπ¥å æ’ ·ø√π‰™πå ‘́Ëß

®”°—¥ (3) › 0.14 › › › › › ›

∫√‘…—∑ ‡Õ  ·Õπ¥å æ’ ‚°≈‡∫‘≈ ®”°—¥

·≈–∫√‘…—∑¬àÕ¬ 14.15 14.72 0.20* 0.20* 18.80 16.48 0.24 (0.29)

( —¥ à«π¢Õß∫√‘…—∑¬àÕ¬·≈–∫√‘…—∑√à«¡¢Õß

∫√‘…—∑ ‡Õ  ·Õπ¥å æ’ ‚°≈‡∫‘≈ ®”°—¥

· ¥ßÕ¬Ÿà„πμ“√“ß∂—¥‰ª)

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∫√‘…—∑  ¬“¡ §‘∑‡™àπ ‡Õ ¥’‡ÕÁπ

∫’‡Õ™¥’ ®”°—¥ (∂◊ÕÀÿâπ‚¥¬

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øŸÑ¥ ®”°—¥ (2) 0.23 › › › 0.18 › › ›

∫√‘…—∑√à«¡∫√‘…—∑ ‡Õ  ·Õπ¥å æ’ ‰¡‡πÕ√å øŸÑ¥ ®”°—¥ › › › 0.14* › › › 0.57*

∫√‘…—∑ ‡Õ™¥’ ¥‘ ∑√‘∫‘«‡μÕ√å 

(ª√–‡∑»‰∑¬) ®”°—¥ › › 2.75 3.02 › › 1.87 (0.16)

14.99 18.04 2.95 3.38 19.12 19.06 2.11 0.12

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S&P SYNDICATE PUBLIC COMPANY LIMITEDANNUAL REPORT 2005

ß∫°“√‡ß‘π√«¡™◊ËÕ∫√‘…—∑  ‘π∑√—æ¬å¢Õß ‡ß‘π≈ß∑ÿπ ÷́Ëß∫—π∑÷° √“¬‰¥â  à«π·∫àß°”‰√ (¢“¥∑ÿπ)

∫√‘…—∑¬àÕ¬ ‚¥¬«‘∏’ à«π‰¥â‡ ’¬ §‘¥‡ªìπ√âÕ¬≈– §‘¥‡ªìπ√âÕ¬≈–¢Õߧ‘¥‡ªìπ√âÕ¬≈– §‘¥‡ªìπ√âÕ¬≈– ¢Õß√“¬‰¥â√«¡ °”‰√ ÿ∑∏‘

¢Õß ‘π∑√—æ¬å√«¡ ¢Õß ‘π∑√—æ¬å ÿ∑∏‘  ”À√—∫ªï  ”À√—∫ªï≥ «—π∑’Ë ≥ «—π∑’Ë  ‘Èπ ÿ¥«—π∑’Ë  ‘Èπ ÿ¥«—π∑’Ë

31 ∏—𫓧¡ 31 ∏—𫓧¡ 31 ∏—𫓧¡ 31 ∏—𫓧¡2548 2547 2548 2547 2548 2547 2548 2547

∂◊ÕÀÿâπ‚¥¬∫√‘…—∑ ‡Õ  ·Õπ¥å æ’ ‚°≈‡∫‘≈ ®”°—¥∫√‘…—∑¬àÕ¬

∫√‘…—∑ ‡Õ  ·Õπ¥å æ’ ‡√ ∑—«√Õß∑å ®”°—¥ 7.26 7.33 › › 8.34 6.63 › ›

∫√‘…—∑ ¿—∑√“ (‡®π’«“) ®”°—¥ 1.06 1.11 › › 1.93 2.06 › ›

∫√‘…—∑ ∏’¡ øŸÑ¥ å (æ’∑’Õ’) ®”°—¥ 1.19 1.91* › › 2.46 2.69* › ›

∫√‘…—∑  ¬“¡ §‘∑‡™àπ §√Õ ‡«¬å

æâÕ¬∑å æ’∑’Õ’ ®”°—¥ 1.19 1.03* › › 4.34 3.77* › ›

∫√‘…—∑ ¿—∑√“ ‰μâÀ«—π ®”°—¥ 0.28 0.27* › › 0.50 0.51* › ›

∫√‘…—∑ æ“∑‘‚Õ Õ‘π‡μÕ√å‡π™—Ëπ·π≈ ®”°—¥ 0.86 0.76* › › 1.16 0.78* › ›

∫√‘…—∑  ¬“¡ §‘∑‡™àπ ‡Õ ¥’‡ÕÁπ

∫’‡Õ ¥’ ®”°—¥ (∂◊ÕÀÿâπ‚¥¬

∫√‘…—∑ ∏’¡ øŸÑ¥ å (æ’∑’Õ’) ®”°—¥) › › 0.01* 0.02* › › › (0.11)

∫√‘…—∑√à«¡∫√‘…—∑ ¿—∑√“ ¥’‡«≈≈Õª‡¡π∑å ®”°—¥ › › 0.19 0.20 › › 0.24 (0.29)

11.84 12.41 0.20 0.22 18.73 16.44 0.24 (0.40)

‡ß‘π≈ß∑ÿπ´÷Ëß∫—π∑÷°‚¥¬«‘∏’ à«π‰¥â‡ ’¬ ≥ «—π∑’Ë 31 ∏—𫓧¡ 2548 ·≈– 2547 ·≈– à«π·∫àß°”‰√ (¢“¥∑ÿπ)

®“°‡ß‘π≈ß∑ÿπμ“¡«‘∏’ à«π‰¥â‡ ’¬  ”À√—∫ªï ‘Èπ ÿ¥«—π∑’Ë 31 ∏—𫓧¡ 2548 ·≈– 2547 ¢Õß∫√‘…—∑¬àÕ¬·≈–∫√‘…—∑√à«¡

¡’®”π«π§‘¥‡ªìπ√âÕ¬≈–¢Õß ‘π∑√—æ¬å ÿ∑∏‘ ·≈–°”‰√ ÿ∑∏‘ μ“¡≈”¥—∫„πß∫°“√‡ß‘π‡©æ“–∫√‘…—∑¥—ß √ÿªμàÕ‰ªπ’È

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79

ß∫°“√‡ß‘π‡©æ“–∫√‘…—∑™◊ËÕ∫√‘…—∑ ‡ß‘π≈ß∑ÿπ´÷Ëß∫—π∑÷°  à«π·∫àß°”‰√ (¢“¥∑ÿπ)

‚¥¬«‘∏’ à«π‰¥â‡ ’¬§‘¥‡ªì𠧑¥‡ªìπ√âÕ¬≈–¢Õß°”‰√ ÿ∑∏‘√âÕ¬≈–¢Õß ‘π∑√—æ¬å ÿ∑∏‘  ”À√—∫ªï ‘Èπ ÿ¥≥ «—π∑’Ë 31 ∏—𫓧¡ «—π∑’Ë 31 ∏—𫓧¡2548 2547 2548 2547

∂◊ÕÀÿâπ‚¥¬∫√‘…—∑ ‡Õ  ·Õπ¥å æ’ ´‘𥑇§∑ ®”°—¥ (¡À“™π)∫√‘…—∑¬àÕ¬

∫√‘…—∑ ‡Õ  ·Õπ¥å æ’ §‘∑‡™àπ ®”°—¥ 0.47 1.44 0.07 0.07

∫√‘…—∑ ‡Õ  ·Õπ¥å æ’ ‡∫‡°Õ√’Ë ‚ª√¥—° å ®”°—¥ (3) › 0.38 0.01 0.01

∫√‘…—∑ ‡Õ  ·Õπ¥å æ’ ¥‘ ∑√‘∫‘«™—Ëπ ·Õπ¥å ‡´≈≈å ®”°—¥ (3) › 0.08 (0.01) (0.01)

∫√‘…—∑ ‡Õ  ·Õπ¥å æ’ ·ø√π‰™πå´‘Ëß ®”°—¥ (3) › 0.19 › ›

∫√‘…—∑ ‡Õ  ·Õπ¥å æ’ ‚°≈‡∫‘≈ ®”°—¥ 10.31 10.84 13.02 7.04

( —¥ à«π¢Õß∫√‘…—∑¬àÕ¬·≈–∫√‘…—∑√à«¡¢Õß∫√‘…—∑

‡Õ  ·Õπ¥å æ’ ‚°≈‡∫‘≈ ®”°—¥ · ¥ß¥â“π≈à“ß)

∫√‘…—∑ ‡ √’«—≤πå øŸÑ¥ å ®”°—¥ (1) 0.30 2.56 0.17 2.98

∫√‘…—∑ ‡Õ  ·Õπ¥å æ’ ‰¡‡πÕ√å øŸÑ¥ ®”°—¥ (2) 0.20 › 0.64 ›

∫√‘…—∑√à«¡∫√‘…—∑ ‡Õ  ·Õπ¥å æ’ ‰¡‡πÕ√å øŸÑ¥ ®”°—¥ › 0.14* › 0.57*

∫√‘…—∑ ‡Õ™¥’ ¥‘ ∑√‘∫‘«‡μÕ√å  (ª√–‡∑»‰∑¬) ®”°—¥ 2.86* 3.16* 1.87* (0.16)*

14.14 18.79 15.77 10.50

∂◊ÕÀÿâπ‚¥¬∫√‘…—∑ ‡Õ  ·Õπ¥å æ’ ‚°≈‡∫‘≈ ®”°—¥∫√‘…—∑¬àÕ¬

∫√‘…—∑ ‡Õ  ·Õπ¥å æ’ ‡√ ∑—«√Õß∑å ®”°—¥ 6.39 6.41 10.76 4.78

∫√‘…—∑ ¿—∑√“ (‡®π’«“) ®”°—¥ 0.49 0.49 0.97 0.29

∫√‘…—∑ ∏’¡ øŸÑ¥ å (æ’∑’Õ’) ®”°—¥ 0.54* 0.56* 0.48* 0.56*

∫√‘…—∑  ¬“¡ §‘∑‡™àπ §√Õ ‡«¬å æâÕ¬∑å æ’∑’Õ’ ®”°—¥ 0.14* 0.09* 0.51* (0.34)*

∫√‘…—∑ ¿—∑√“ ‰μâÀ«—π ®”°—¥ (0.06)* (0.05)* (0.14)* (0.58)*

∫√‘…—∑ æ“∑‘‚Õ Õ‘π‡μÕ√å‡π™—Ëπ·π≈ ®”°—¥ 0.19* 0.34* (0.66)* 0.23*

∫√‘…—∑√à«¡∫√‘…—∑ ¿—∑√“ ¥’‡«≈≈Õª‡¡π∑å ®”°—¥ 0.20 0.21* 0.24 (0.29)*

∂◊ÕÀÿâπºà“π∫√‘…—∑ ∏’¡ øŸÑ¥ å (æ’∑’Õ’) ®”°—¥ ª√–‡∑» ‘ߧ‚ª√å∫√‘…—∑  ¬“¡ §‘∑‡™àπ ‡Õ ¥’‡ÕÁπ ∫’‡Õ™¥’ ®”°—¥ 0.02* 0.02* › (0.11)*

7.91 8.07 12.16 4.54

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* „™â¢âÕ¡Ÿ≈∑’Ë®—¥‡μ√’¬¡‚¥¬ºŸâ∫√‘À“√·≈–¬—߉¡à‰¥âºà“π°“√μ√«® Õ∫·≈– Õ∫∑“π‚¥¬ºŸâ Õ∫∫—≠™’

(1) „π‡¥◊Õπμÿ≈“§¡ 2547 ∫√‘…—∑¥—ß°≈à“«‰¥âÀ¬ÿ¥¥”‡π‘π°“√ ·≈–‰¥â‚Õπ∫ÿ§≈“°√·≈– ‘∑∏‘„π°“√¥”‡π‘πß“π∑—ÈßÀ¡¥„Àâ·°à∫√‘…—∑ ‡Õ  ·Õπ¥å æ’ ‘́𥑇§∑

®”°—¥ (¡À“™π)

(2) ∫√‘…—∑‰¥â ◊́ÈÕÀÿâπ‡æ‘Ë¡®“°ºŸâ∂◊ÕÀÿâπ‡¥‘¡‡ªìπ®”π«π‡ß‘π 499,300 ∫“∑ „π‰μ√¡“ ∑’Ë “¡ªï 2548

(3) ‡¡◊ËÕ«—π∑’Ë 24  ‘ßÀ“§¡ 2548 ∑’˪√–™ÿ¡«‘ “¡—≠ºŸâ∂◊ÕÀÿâπ¢Õß∫√‘…—∑ ‡Õ  ·Õπ¥å æ’ ‡∫‡°Õ√’Ë ‚ª√¥—° å ®”°—¥ ∫√‘…—∑ ‡Õ  ·Õπ¥å æ’ ¥‘ ∑√‘∫‘«™—Ëπ ·Õπ¥å ‡´≈≈å

®”°—¥ ·≈–∫√‘…—∑ ‡Õ  ·Õπ¥å æ’ ·ø√π‰™πå ‘́Ëß ®”°—¥ ÷́Ë߇ªìπ∫√‘…—∑¬àÕ¬ ‰¥â¡’¡μ‘„Àâ‡≈‘°∫√‘…—∑ ÷́ËßμàÕ¡“‡¡◊ËÕ«—π∑’Ë 12 °—𬓬π 2548 ∑’˪√–™ÿ¡«‘ “¡—≠

‰¥â¡’¡μ‘Õπÿ¡—쑬◊π¬—π„π°“√®¥∑–‡∫’¬π‡≈‘°∫√‘…—∑ ·≈–‰¥â¥”‡π‘π°“√¬◊Ëπ§”¢Õ‡≈‘°∫√‘…—∑μàÕ ”π—°ß“π∑–‡∫’¬πÀÿâπ à«π∫√‘…—∑°√–∑√«ßæ“≥‘™¬å·≈â« ‡¡◊ËÕ«—π∑’Ë

26 °—𬓬π 2548

3. π‚¬∫“¬°“√∫—≠™’∑’Ë ”§—≠

π‚¬∫“¬°“√∫—≠™’∑’Ë ”§—≠ √ÿª‰¥â¥—ßμàÕ‰ªπ’È

3.1 ‡ß‘π ¥·≈–√“¬°“√‡∑’¬∫‡∑à“‡ß‘π ¥

‡ß‘π ¥·≈–√“¬°“√‡∑’¬∫‡∑à“‡ß‘π ¥ ª√–°Õ∫¥â«¬ ‡ß‘𠥄π¡◊Õ ‡ß‘πΩ“°∏𓧓√ ·≈–‡ß‘πΩ“°

 ∂“∫—π°“√‡ß‘π∑ÿ°ª√–‡¿∑∑’Ë∂÷ß°”Àπ¥®à“¬„π√–¬–‡«≈“ “¡‡¥◊ÕπÀ√◊ÕπâÕ¬°«à“ ‚¥¬‰¡à√«¡‡ß‘πΩ“°

∏𓧓√∑’Ë¡’¿“√–ºŸ°æ—π

3.2 §à“‡º◊ËÕÀπ’È ß —¬®– Ÿ≠

§à“‡º◊ËÕÀπ’È ß —¬®– Ÿ≠ °”Àπ¥¢÷Èπ‚¥¬ª√–¡“≥®”π«πÀπ’È∑’˧“¥«à“®–‡°Á∫‡ß‘π‰¡à‰¥â °“√ª√–¡“≥

¥—ß°≈à“« Õ“»—¬ª√– ∫°“√≥å¢Õß∫√‘…—∑„π°“√‡°Á∫‡ß‘π®“°≈Ÿ°Àπ’È ª√–°Õ∫°—∫°“√æ‘®“√≥“∞“π–

°“√‡ß‘π¢Õß≈Ÿ°Àπ’ȥ⫬

3.3  ‘π§â“§ß‡À≈◊Õ

 ‘π§â“§ß‡À≈◊Õ¢Õß∫√‘…—∑·≈–∫√‘…—∑¬àÕ¬· ¥ß„π√“§“∑ÿπÀ√◊Õ¡Ÿ≈§à“ ÿ∑∏‘∑’Ë®–‰¥â√—∫·≈â«·μà√“§“„¥®–

μË”°«à“ ‚¥¬√“§“∑ÿπ¢Õß ‘π§â“§ß‡À≈◊Õ¢Õß∫√‘…—∑·≈–∫√‘…—∑¬àÕ¬®”π«π 3 ·Ààß §”π«≥μ“¡«‘∏’

∂—«‡©≈’ˬ ·≈–∫√‘…—∑¬àÕ¬Õ’°®”π«π 2 ·Ààß §”π«≥μ“¡«‘∏’‡¢â“°àÕπÕÕ°°àÕπ

3.4 ‡ß‘π≈ß∑ÿπ´÷Ëß∫—π∑÷°¥â«¬«‘∏’ à«π‰¥â‡ ’¬

‡ß‘π≈ß∑ÿπ„π∫√‘…—∑¬àÕ¬·≈–∫√‘…—∑√à«¡· ¥ß‚¥¬«‘∏’ à«π‰¥â‡ ’¬ „π°√≥’∑’Ë¡’°“√¥âÕ¬§à“¢Õ߇ߑπ≈ß∑ÿπ

º≈¢“¥∑ÿπ¢Õ߇ߑπ≈ß∑ÿπ®–∂Ÿ°∫—π∑÷°„πß∫°”‰√¢“¥∑ÿπ

3.5 ‡ß‘π≈ß∑ÿπ√–¬–¬“«Õ◊Ëπ

‡ß‘π≈ß∑ÿπ√–¬–¬“«Õ◊Ëπ ‰¥â·°à ‡ß‘πΩ“°∏𓧓√∑’Ëμ‘¥¿“√–§È”ª√–°—π ·≈–‡ß‘π≈ß∑ÿπ„πμ√“ “√∑ÿπ

∑’ˉ¡àÕ¬Ÿà„𧫓¡μâÕß°“√¢Õßμ≈“¥ ÷́Ëß∫√‘…—∑∂◊Õ‰«â‡ªìπ‡ß‘π≈ß∑ÿπ∑—Ë«‰ª · ¥ß¥â«¬√“§“∑ÿπ

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3.6 ∑’Ë¥‘π Õ“§“√·≈–Õÿª°√≥å

∑’Ë¥‘π¢Õß∫√‘…—∑· ¥ß„π√“§“∑ÿπ Õ“§“√·≈–Õÿª°√≥å¢Õß∫√‘…—∑·≈–∫√‘…—∑¬àÕ¬„πª√–‡∑» · ¥ß„π

√“§“∑ÿπÀ—°¥â«¬§à“‡ ◊ËÕ¡√“§“ – ¡ §à“‡ ◊ËÕ¡√“§“§”π«≥‚¥¬«‘∏’‡ âπμ√ßμ“¡‡°≥±åÕ“¬ÿ°“√„™â

 ‘π∑√—æ¬å‚¥¬ª√–¡“≥ 20 ªï  ”À√—∫Õ“§“√ 5 ªï  ”À√—∫§à“ª√—∫ª√ÿß∑’Ë¥‘π ·≈– 5 - 8 ªï  ”À√—∫

Õÿª°√≥å

Õÿª°√≥å¢Õß∫√‘…—∑¬àÕ¬„πμà“ߪ√–‡∑» · ¥ß„π√“§“∑ÿπÀ—°¥â«¬§à“‡ ◊ËÕ¡√“§“ – ¡ §à“‡ ◊ËÕ¡√“§“

§”π«≥‚¥¬«‘∏’‡ âπμ√ß·≈–«‘∏’¬Õ¥§ß‡À≈◊Õ≈¥≈ßμ“¡Õ“¬ÿ°“√„™â ‘π∑√—æ¬å‚¥¬ª√–¡“≥ 4 - 5 ªï

3.7  ‘π∑√—æ¬å‰¡à¡’μ—«μπ

 ‘π∑√—æ¬å‰¡à¡’μ—«μπ ª√–°Õ∫¥â«¬

1. §à“æ—≤π“´Õøμå·«√å§Õ¡æ‘«‡μÕ√å · ¥ß„π√“§“∑ÿπ °”Àπ¥μ—¥∫—≠™’‡ªìπ§à“„™â®à“¬¿“¬„π 5 ªï

2.  ‘∑∏‘°“√‡™à“¢Õß∫√‘…—∑ °”Àπ¥μ—¥∫—≠™’μ“¡Õ“¬ÿ —≠≠“‡™à“‚¥¬«‘∏’‡ âπμ√ß  ”À√—∫ ‘∑∏‘°“√‡™à“

√–¬–¬“«¢Õß∫√‘…—∑¬àÕ¬„πμà“ߪ√–‡∑» °”Àπ¥μ—¥∫—≠™’„πÕ—μ√“√âÕ¬≈– 2 ¢Õß√“§“∑ÿπμ“¡«‘∏’

‡ âπμ√ß  à«π ‘∑∏‘°“√‡™à“√–¬– —Èπμ—¥∫—≠™’μ“¡Õ“¬ÿ¢Õß —≠≠“‡™à“

3. §à“§«“¡π‘¬¡ ‰¥â·°à  à«π‡°‘π√“§“∑ÿπ∑’Ë Ÿß°«à“¡Ÿ≈§à“ ‘π∑√—æ¬å ÿ∑∏‘¢Õ߇ߑπ≈ß∑ÿπ ≥ «—π´◊ÈÕÀÿâπ„π

∫√‘…—∑¬àÕ¬·ÀàßÀπ÷Ëß ÷́Ëß ÿ∑∏‘®“°§à“§«“¡π‘¬¡μ‘¥≈∫∑’ˇªìπ à«π‡°‘π¢Õß ‘π∑√—æ¬å ÿ∑∏‘ Ÿß°«à“√“§“

∑ÿπ¢Õ߇ߑπ≈ß∑ÿπ ≥ «—π´◊ÈÕÀÿâπ„π∫√‘…—∑¬àÕ¬ Õß·Ààß °”Àπ¥μ—¥®”Àπà“¬‚¥¬«‘∏’‡ âπμ√ß¿“¬„π

√–¬–‡«≈“ 10 ªï π—∫μ—Èß·μà«—π´◊ÈÕÀÿâπ

3.8 °Õß∑ÿπ ”√Õ߇≈’Ȭߙ’æ

∫√‘…—∑¡’°Õß∑ÿπ ”√Õ߇≈’Ȭߙ’æ μ“¡æ√–√“™∫—≠≠—μ‘°Õß∑ÿπ ”√Õ߇≈’Ȭߙ’æ æ.». 2530 ‚¥¬¡’æπ—°ß“π

¢Õß∫√‘…—∑‡ªìπ ¡“™‘°‚¥¬§«“¡ ¡—§√„® μ“¡√–‡∫’¬∫¢Õß°Õß∑ÿπ  ¡“™‘°®à“¬‡ß‘π ¡∑∫‡¢â“°Õß∑ÿπ

„πÕ—μ√“√âÕ¬≈– 2 ¢Õ߇ߑπ‡¥◊Õπ ·≈–∫√‘…—∑®à“¬ ¡∑∫„πÕ—μ√“√âÕ¬≈– 2 ¢Õß§à“®â“ß·μà≈–‡¥◊Õπ  ¡“™‘°

¡’ ‘∑∏‘‰¥â√—∫‡ß‘π – ¡¢Õß ¡“™‘°§◊π∑—Èß®”π«π√«¡∑—Èߺ≈ª√–‚¬™πå ÿ∑∏‘ ·≈–‰¥â√—∫‡ß‘π ¡∑∫¢Õß

∫√‘…—∑√«¡∑—Èߺ≈ª√–‚¬™πå ÿ∑∏‘„πÕ—μ√“∑’Ë°”Àπ¥μ“¡Õ“¬ÿ¢Õß ¡“™‘°

°Õß∑ÿπ ”√Õ߇≈’Ȭߙ’æπ’È¡’∫√‘…—∑À≈—°∑√—æ¬å®—¥°“√°Õß∑ÿπ·ÀàßÀπ÷Ë߇ªìπºŸâ®—¥°“√°Õß∑ÿπ ®÷߉¡à¡’¬Õ¥

ª√“°Ø„πß∫¥ÿ≈

3.9 ∫—≠™’∑’ˇªìπ‡ß‘πμ√“μà“ߪ√–‡∑»

√“¬°“√∫—≠™’∑’ˇªìπ‡ß‘πμ√“μà“ߪ√–‡∑»∑’ˇ°‘¥¢÷Èπ„π√–À«à“ßªï ·ª≈ß§à“‡ªìπ‡ß‘π∫“∑μ“¡Õ—μ√“

·≈°‡ª≈’ˬπ ≥ «—π∑’ˇ°‘¥√“¬°“√  ‘π∑√—æ¬å·≈–Àπ’È ‘π∑’ˇªìπμ—«‡ß‘π∑’ˇªìπ‡ß‘πμ√“μà“ߪ√–‡∑» ≥

«—π ‘Èπªï·ª≈ß§à“‡ªìπ‡ß‘π∫“∑μ“¡Õ—μ√“·≈°‡ª≈’ˬπ ≥ «—ππ—Èπ ́ ÷Ëß°”À𥂥¬∏𓧓√·Ààߪ√–‡∑»‰∑¬

°”‰√¢“¥∑ÿπ®“°°“√·ª≈ß§à“¥—ß°≈à“«√«¡‰«â„πß∫°”‰√¢“¥∑ÿπ

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°“√·ª≈ߧà“ß∫°“√‡ß‘πμà“ߪ√–‡∑»‡ªìπ‡ß‘π∫“∑‡æ◊ËÕ∑”ß∫°“√‡ß‘π√«¡„™âÕ—μ√“·≈°‡ª≈’ˬπ¥—ßμàÕ‰ªπ’È

°.  ‘π∑√—æ¬å·≈–Àπ’È ‘π ·ª≈ß§à“‚¥¬„™âÕ—μ√“·≈°‡ª≈’ˬπ ≥ «—π ‘Èπªï

¢.  à«π¢ÕߺŸâ∂◊ÕÀÿâπ ·ª≈ß§à“‚¥¬„™âÕ—μ√“·≈°‡ª≈’ˬπ ≥ «—π∑’ˇ°‘¥√“¬°“√

§. √“¬‰¥â·≈–§à“„™â®à“¬ ·ª≈ß§à“‚¥¬„™âÕ—μ√“·≈°‡ª≈’ˬπ∂—«‡©≈’ˬ√–À«à“ߪï

°”‰√ (¢“¥∑ÿπ) ®“°°“√·ª≈ߧà“ß∫°“√‡ß‘πμà“ߪ√–‡∑» · ¥ß‰«â¿“¬„μâ à«π¢ÕߺŸâ∂◊ÕÀÿâπ

√“¬°“√μ—¥∫—≠™’√–À«à“ß°—π„™âÕ—μ√“·≈°‡ª≈’ˬπ ≥ «—π∑’ˇ°‘¥√“¬°“√·≈–«—π∑’Ë®—¥∑”ß∫°“√‡ß‘π√«¡

3.10 °“√√—∫√Ÿâ√“¬‰¥â·≈–§à“„™â®à“¬

√“¬‰¥â®“°°“√¢“¬ ‘π§â“·≈–μâπ∑ÿπ¢“¬ ‘π§â“ √—∫√Ÿâ‡ªìπ√“¬‰¥â·≈–μâπ∑ÿπ¢“¬„πß∫°”‰√¢“¥∑ÿπ

‡¡◊ËÕ‰¥â‚Õ𧫓¡‡ ’ˬ߷≈–º≈μÕ∫·∑π∑’ˇªìπ “√– ”§—≠¢Õߧ«“¡‡ªìπ‡®â“¢Õß ‘π§â“„Àâ°—∫ºŸâ´◊ÈÕ·≈â«

√“¬‰¥âÕ◊Ëπ·≈–§à“„™â®à“¬Õ◊Ëπ√—∫√Ÿâμ“¡‡°≥±å§ß§â“ß

3.11 ¿“…’‡ß‘π‰¥â

¿“…’‡ß‘π‰¥â¢Õß∫√‘…—∑·≈–∫√‘…—∑¬àÕ¬„πª√–‡∑» ”À√—∫·μà≈–ªï∫—π∑÷°∫—≠™’μ“¡‡°≥±å§ß§â“ß ‚¥¬

§”π«≥®“°°”‰√ ÿ∑∏‘‡æ◊ËÕ‡ ’¬¿“…’ª√–®”ªï

¿“…’‡ß‘π‰¥â¢Õß∫√‘…—∑¬àÕ¬„πμà“ߪ√–‡∑» ”À√—∫·μà≈–ªï∫—π∑÷°μ“¡‡°≥±å§ß§â“ß ‚¥¬§”π«≥

μ“¡‡°≥±å∑’Ë°”À𥂥¬ª√–‡∑»∑’Ë°‘®°“√‡¢â“‰ª¥”‡π‘π∏ÿ√°‘®‚¥¬ª√–¡“≥

3.12 °”‰√μàÕÀÿâπ¢—Èπæ◊Èπ∞“π

°”‰√μàÕÀÿâπ¢—Èπæ◊Èπ∞“𠧔π«≥‚¥¬À“√°”‰√ ÿ∑∏‘ ”À√—∫ªï¥â«¬®”π«πÀÿâπ “¡—≠∂—«‡©≈’ˬ∂à«ßπÈ”Àπ—°

„π√–À«à“ߪï

°”‰√μàÕÀÿâπª√—∫≈¥ §”π«≥‚¥¬À“√°”‰√ ÿ∑∏‘ ”À√—∫ªï¥â«¬º≈√«¡¢Õß®”π«πÀÿâπ “¡—≠∂—«‡©≈’ˬ

∂à«ßπÈ”Àπ—°„π√–À«à“ßªï °—∫®”π«π∂—«‡©≈’ˬ∂à«ßπÈ”Àπ—°¢ÕßÀÿâπ “¡—≠∑’Ë∫√‘…—∑Õ“®μâÕßÕÕ°‡æ◊ËÕ·ª≈ß

Àÿâπ “¡—≠‡∑’¬∫‡∑à“ª√—∫≈¥∑—Èß ‘Èπ („∫ ”§—≠· ¥ß ‘∑∏‘) „À⇪ìπÀÿâπ “¡—≠

3.13 °“√ª√–¡“≥°“√∑“ß∫—≠™’

„π°“√®—¥∑”ß∫°“√‡ß‘π„À⇪ìπ‰ªμ“¡À≈—°°“√∫—≠™’∑’Ë√—∫√Õß∑—Ë«‰ª ΩÉ“¬∫√‘À“√μâÕß„™â°“√ª√–¡“≥

·≈–μ—ÈߢâÕ ¡¡μ‘∞“πÀ≈“¬ª√–°“√ ́ ÷Ëß¡’º≈°√–∑∫μàÕ®”π«π‡ß‘π∑’ˇ°’ˬ«°—∫√“¬‰¥â §à“„™â®à“¬  ‘π∑√—æ¬å

·≈–Àπ’È ‘π ·≈–°“√‡ªî¥‡º¬¢âÕ¡Ÿ≈‡°’ˬ«°—∫ ‘π∑√—æ¬å ·≈–Àπ’È ‘π∑’ËÕ“®‡°‘¥¢÷Èπ ´÷Ëߺ≈∑’ˇ°‘¥¢÷Èπ®√‘ß

Õ“®·μ°μà“߉ª®“°®”π«π∑’˪√–¡“≥‰«â

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4. ‡ß‘π ¥·≈–√“¬°“√‡∑’¬∫‡∑à“‡ß‘π ¥

‡æ◊ËÕ«—μ∂ÿª√– ß§å„π°“√®—¥∑”ß∫°√–· ‡ß‘π ¥μ“¡¡“μ√∞“π°“√∫—≠™’∑’ˇ°’ˬ«¢âÕß ‡ß‘π ¥·≈–√“¬°“√

‡∑’¬∫‡∑à“‡ß‘π ¥ ≥ «—π∑’Ë 31 ∏—𫓧¡ ª√–°Õ∫¥â«¬

Àπ૬ : æ—π∫“∑ß∫°“√‡ß‘π√«¡ ß∫°“√‡ß‘π‡©æ“–∫√‘…—∑

2548 2547 2548 2547‡ß‘π ¥·≈–‡ß‘πΩ“°∏𓧓√ 411,747 214,309 310,363 159,040

‡ß‘πΩ“°∏𓧓√ª√–‡¿∑ª√–®” 30,451 30,516 30,451 30,516

μ—Ϋ —≠≠“„™â‡ß‘π ∂“∫—π°“√‡ß‘π › 52,725 › ›

‡ß‘π ¥·≈–√“¬°“√‡∑’¬∫‡∑à“‡ß‘π ¥ 442,198 297,550 340,814 189,556

‡ß‘π ¥·≈–√“¬°“√‡∑’¬∫‡∑à“‡ß‘π ¥ ‰¥â·°à ‡ß‘𠥄π¡◊Õ ‡ß‘πΩ“°∏𓧓√∑ÿ°ª√–‡¿∑ ·≈–μ—Ϋ‡ß‘π√—∫

 ∂“∫—π°“√‡ß‘π∑’Ë¡’°”À𥇫≈“‰∂à∂Õπ§◊π‰¡à‡°‘π 3 ‡¥◊Õπ ·≈–‰¡àμ‘¥¿“√–§È”ª√–°—π ‚¥¬¡’Õ—μ√“¥Õ°‡∫’Ȭ‡ªìπ‰ª

μ“¡μ≈“¥∑—Ë«‰ª

5. ‡ß‘π≈ß∑ÿπ™—Ë«§√“«

‡ß‘π≈ß∑ÿπ™—Ë«§√“« ≥ «—π∑’Ë 31 ∏—𫓧¡ 2548 ·≈– 2547 ‡ªìπ‡ß‘π≈ß∑ÿπ„πμ—Ϋ —≠≠“„™â‡ß‘π ∂“∫—π

°“√‡ß‘π∑’Ë¡’°”À𥇫≈“‰∂à∂Õπ§◊π‰¡à‡°‘π 12 ‡¥◊Õπ ·≈–‰¡àμ‘¥¿“√–§È”ª√–°—π ‚¥¬¡’Õ—μ√“¥Õ°‡∫’È¬μ“¡μ≈“¥∑—Ë«‰ª

6. ≈Ÿ°Àπ’È°“√§â“ -  ÿ∑∏‘

≥ «—π∑’Ë 31 ∏—𫓧¡ ∫√‘…—∑·≈–∫√‘…—∑¬àÕ¬¡’¬Õ¥≈Ÿ°Àπ’È°“√§â“§ß‡À≈◊Õ ( ÷́Ëß√«¡≈Ÿ°Àπ’È°“√§â“°‘®°“√

∑’ˇ°’ˬ«¢âÕß°—π) ‚¥¬·¬°μ“¡®”π«π‡¥◊Õπ∑’˧â“ß™”√–‰¥â¥—ßπ’È

Àπ૬ : æ—π∫“∑ß∫°“√‡ß‘π√«¡ ß∫°“√‡ß‘π‡©æ“–∫√‘…—∑

2548 2547 2548 2547¬—߉¡à∂÷ß°”Àπ¥ 69,211 59,900 60,696 54,529

‡°‘π°”Àπ¥™”√–

πâÕ¬°«à“À√◊Õ‡∑à“°—∫ 3 ‡¥◊Õπ 31,595 33,892 31,595 33,254

¡“°°«à“ 3 ‡¥◊Õπ ∂÷ß 6 ‡¥◊Õπ 2,060 3,343 2,060 3,343

¡“°°«à“ 6 ‡¥◊Õπ ∂÷ß 12 ‡¥◊Õπ 435 106 435 106

¡“°°«à“ 12 ‡¥◊Õπ¢÷Èπ‰ª 9,347 9,293 6,905 7,090

√«¡ 112,648 106,534 101,691 98,322

À—° §à“‡º◊ËÕÀπ’È ß —¬®– Ÿ≠ (12,058) (12,137) (9,931) (9,934)

≈Ÿ°Àπ’È°“√§â“ -  ÿ∑∏‘ 100,590 94,397 91,760 88,388

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S&P SYNDICATE PUBLIC COMPANY LIMITEDANNUAL REPORT 2005

7.  ‘π§â“§ß‡À≈◊Õ -  ÿ∑∏‘

 ‘π§â“§ß‡À≈◊Õ ≥ «—π∑’Ë 31 ∏—𫓧¡ ª√–°Õ∫¥â«¬

Àπ૬ : æ—π∫“∑ß∫°“√‡ß‘π√«¡ ß∫°“√‡ß‘π‡©æ“–∫√‘…—∑

2548 2547 2548 2547 ‘π§â“ ”‡√Á®√Ÿª 37,519 37,224 37,519 37,224

ß“π√–À«à“ß∑” 1,132 1,096 1,132 1,096

«—μ∂ÿ¥‘∫ 41,413 43,824 36,001 38,153

«— ¥ÿÀ’∫ÀàÕ 32,793 29,396 32,793 29,396

Õ–‰À≈à·≈–«— ¥ÿ ‘Èπ‡ª≈◊Õß 7,811 5,599 7,811 5,599

 ‘π§â“√–À«à“ß∑“ß › 45 › 17

√«¡ 120,668 117,184 115,256 111,485

À—°  ”√Õß ‘π§â“‡ ◊ËÕ¡ ¿“æ › (840) › ›

 ‘π§â“§ß‡À≈◊Õ -  ÿ∑∏‘ 120,668 116,344 115,256 111,485

8. ‡ß‘π≈ß∑ÿπ´÷Ëß∫—π∑÷°‚¥¬«‘∏’ à«π‰¥â‡ ’¬

‡ß‘π≈ß∑ÿπ´÷Ëß∫—π∑÷°‚¥¬«‘∏’ à«π‰¥â‡ ’¬„πß∫°“√‡ß‘π√«¡ ≥ «—π∑’Ë 31 ∏—𫓧¡ 2548 ª√–°Õ∫¥â«¬

Àπ૬ : æ—π∫“∑ª√–‡¿∑ ≈—°…≥– ∑ÿπ™”√–·≈â«  —¥ à«π μ“¡«‘∏’ μ“¡«‘∏’ ‡ß‘πªíπº≈°‘®°“√ §«“¡ —¡æ—π∏å (æ—π∫“∑) ‡ß‘π≈ß∑ÿπ √“§“∑ÿπ  à«π‰¥â‡ ’¬

(√âÕ¬≈–)∫√‘…—∑¬àÕ¬

∫√‘…—∑  ¬“¡ §‘∑‡™àπ ‡Õ ¥’‡ÕÁπ ∫’‡Õ™¥’ ®”°—¥ √â“πÕ“À“√‰∑¬ ºŸâ∂◊ÕÀÿâπ·≈–

ºŸâ∫√‘À“√√à«¡°—π 2,845 50.00 1,423 235 ›

∫√‘…—∑√à«¡∫√‘…—∑ ‡Õ™¥’ ¥‘ ∑√‘∫‘«‡μÕ√å  μ—«·∑π®”Àπà“¬

(ª√–‡∑»‰∑¬) ®”°—¥ Õ“À“√ é 100,000 49.00 48,998 43,238 ›

∂◊ÕÀÿâπ‚¥¬∫√‘…—∑ ‡Õ  ·Õπ¥å æ’ ‚°≈‡∫‘≈ ®”°—¥∫√‘…—∑ ¿—∑√“ ¥’‡«≈≈Õª‡¡π∑å ®”°—¥ √â“πÕ“À“√ é 5,314 45.00 2,392 3,011 ›

∫√‘…—∑ ¬Ÿ‡π’¬π  °“¬ ‡Õ  ·Õπ¥å æ’ ®”°—¥ é é 50 20.00 10 › ›

√«¡ 52,823 46,484 ›

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‡ß‘π≈ß∑ÿπ´÷Ëß∫—π∑÷°‚¥¬«‘∏’ à«π‰¥â‡ ’¬„πß∫°“√‡ß‘π√«¡ ≥ «—π∑’Ë 31 ∏—𫓧¡ 2547 ª√–°Õ∫¥â«¬

Àπ૬ : æ—π∫“∑ª√–‡¿∑ ≈—°…≥– ∑ÿπ™”√–·≈â«  —¥ à«π μ“¡«‘∏’ μ“¡«‘∏’ ‡ß‘πªíπº≈°‘®°“√ §«“¡ —¡æ—π∏å (æ—π∫“∑) ‡ß‘π≈ß∑ÿπ √“§“∑ÿπ  à«π‰¥â‡ ’¬

(√âÕ¬≈–)∫√‘…—∑¬àÕ¬

∫√‘…—∑  ¬“¡ §‘∑‡™àπ ‡Õ ¥’‡ÕÁπ ∫’‡Õ™¥’ ®”°—¥ √â“πÕ“À“√‰∑¬ ºŸâ∂◊ÕÀÿâπ·≈–

ºŸâ∫√‘À“√√à«¡°—π 2,845 50.00 1,423 241 ›

∫√‘…—∑√à«¡∫√‘…—∑ ‡Õ  ·Õπ¥å æ’ ‰¡‡πÕ√å øŸÑ¥ ®”°—¥ „À⇙à“æ◊Èπ∑’ËÕ“§“√ é 1,000 50.00 500 1,798 ›

∫√‘…—∑ ‡Õ  ·Õπ¥å æ’ ‡§‡∑Õ√‘Ëß ®”°—¥ À¬ÿ¥¥”‡π‘πß“π* é 1,000 50.00 › 50 155

∫√‘…—∑ ‡Õ™¥’ ¥‘ ∑√‘∫‘«‡μÕ√å  μ—«·∑π®”Àπà“¬

(ª√–‡∑»‰∑¬) ®”°—¥ Õ“À“√ é 100,000 49.00 48,998 39,428 ›

∂◊ÕÀÿâπ‚¥¬∫√‘…—∑ ‡Õ  ·Õπ¥å æ’ ‚°≈‡∫‘≈ ®”°—¥∫√‘…—∑ ¿—∑√“ ¥’‡«≈≈Õª‡¡π∑å ®”°—¥ √â“πÕ“À“√ é 5,314 45.00 2,392 2,645 ›

∫√‘…—∑ ¬Ÿ‡π’¬π  °“¬ ‡Õ  ·Õπ¥å æ’ ®”°—¥ é é 50 20.00 10 › ›

√«¡ 53,323 44,162 155

* À¬ÿ¥°“√¥”‡π‘πß“π ‚¥¬¢“¬ ‘π∑√—æ¬å ‚Õπ∫ÿ§≈“°√·≈– ‘∑∏‘„π°“√¥”‡π‘πß“π∑—ÈßÀ¡¥„Àâ·°à∫√‘…—∑ ‡Õ  ·Õπ¥å æ’ ´‘𥑇§∑ ®”°—¥ (¡À“™π) ∑—Èßπ’Èμ—Èß·μà

‰μ√¡“  2 ªï 2541 ·≈–‡¡◊ËÕ«—π∑’Ë 31  ‘ßÀ“§¡ 2547 ∑’˪√–™ÿ¡«‘ “¡—≠ºŸâ∂◊ÕÀÿâπ¢Õß∫√‘…—∑ ‡Õ  ·Õπ¥å æ’ ‡§‡∑Õ√‘Ëß ®”°—¥ ÷́Ë߇ªìπ∫√‘…—∑√à«¡ ‰¥â¡’¡μ‘„Àâ

‡≈‘°∫√‘…—∑ ÷́ËßμàÕ¡“‡¡◊ËÕ«—π∑’Ë 15 °—𬓬π 2547 ∑’˪√–™ÿ¡«‘ “¡—≠‰¥â¡’¡μ‘Õπÿ¡—쑬◊π¬—π„π°“√®¥∑–‡∫’¬π‡≈‘°∫√‘…—∑ ·≈–‰¥â¥”‡π‘π°“√¬◊Ëπ§”¢Õ‡≈‘°∫√‘…—∑

μàÕ ”π—°ß“π∑–‡∫’¬πÀÿâπ à«π∫√‘…—∑°√–∑√«ßæ“≥‘™¬å·≈â« ‡¡◊ËÕ«—π∑’Ë 15 °—𬓬π 2547

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‡ß‘π≈ß∑ÿπ´÷Ëß∫—π∑÷°‚¥¬«‘∏’ à«π‰¥â‡ ’¬„πß∫°“√‡ß‘π‡©æ“–∫√‘…—∑ ≥ «—π∑’Ë 31 ∏—𫓧¡ 2548 ª√–°Õ∫¥â«¬

Àπ૬ : æ—π∫“∑ª√–‡¿∑ ≈—°…≥– ∑ÿπ™”√–·≈â«  —¥ à«π μ“¡«‘∏’ μ“¡«‘∏’ ‡ß‘πªíπº≈°‘®°“√ §«“¡ —¡æ—π∏å (æ—π∫“∑) ‡ß‘π≈ß∑ÿπ √“§“∑ÿπ  à«π‰¥â‡ ’¬

(√âÕ¬≈–)∫√‘…—∑¬àÕ¬

∫√‘…—∑ ‡Õ  ·Õπ¥å æ’ §‘∑‡™àπ ®”°—¥ À¬ÿ¥¥”‡π‘πß“π (1) (2) ºŸâ∂◊ÕÀÿâπ·≈–

ºŸâ∫√‘À“√√à«¡°—π 4,000 99.99 3,999 7,069 ›

∫√‘…—∑ ‡Õ  ·Õπ¥å æ’ ‚°≈‡∫‘≈ ®”°—¥ Holding Company é 50,000 80.00 40,000 156,225 ›

∫√‘…—∑ ‡ √’«—≤πå øŸÑ¥ å ®”°—¥ Õÿμ “À°√√¡Õ“À“√ (4) é 2,000 99.96 1,999 4,571 27,989

∫√‘…—∑ ‡Õ  ·Õπ¥å æ’ ‰¡‡πÕ√å øŸÑ¥ ®”°—¥ „À⇙à“æ◊Èπ∑’ËÕ“§“√ é 1,000 99.93 999 2,965 633

∫√‘…—∑√à«¡∫√‘…—∑ ‡Õ™¥’ ¥‘ ∑√‘∫‘«‡μÕ√å  μ—«·∑π®”Àπà“¬

(ª√–‡∑»‰∑¬) ®”°—¥ Õ“À“√ é 100,000 49.00 48,998 43,238 ›

√«¡ 95,995 214,068 28,622

‡ß‘π≈ß∑ÿπ´÷Ëß∫—π∑÷°‚¥¬«‘∏’ à«π‰¥â‡ ’¬„πß∫°“√‡ß‘π‡©æ“–∫√‘…—∑ ≥ «—π∑’Ë 31 ∏—𫓧¡ 2547 ª√–°Õ∫¥â«¬

Àπ૬ : æ—π∫“∑ª√–‡¿∑ ≈—°…≥– ∑ÿπ™”√–·≈â«  —¥ à«π μ“¡«‘∏’ μ“¡«‘∏’ ‡ß‘πªíπº≈°‘®°“√ §«“¡ —¡æ—π∏å (æ—π∫“∑) ‡ß‘π≈ß∑ÿπ √“§“∑ÿπ  à«π‰¥â‡ ’¬

(√âÕ¬≈–)∫√‘…—∑¬àÕ¬

∫√‘…—∑ ‡Õ  ·Õπ¥å æ’ §‘∑‡™àπ ®”°—¥ À¬ÿ¥¥”‡π‘πß“π (1) (2) ºŸâ∂◊ÕÀÿâπ·≈–

ºŸâ∫√‘À“√√à«¡°—π 15,000 99.99 139,793 17,920 ›

∫√‘…—∑ ‡Õ  ·Õπ¥å æ’ ‡∫‡°Õ√’Ë

‚ª√¥—° å ®”°—¥ À¬ÿ¥¥”‡π‘πß“π (1) (5) é 1,000 99.99 1,000 4,722 ›

∫√‘…—∑ ‡Õ  ·Õπ¥å æ’ ¥‘ ∑√‘∫‘«™—Ëπ

·Õπ¥å ‡´≈ å ®”°—¥ À¬ÿ¥¥”‡π‘πß“π (1) (5) é 1,000 99.99 1,000 1,049 ›

∫√‘…—∑ ‡Õ  ·Õπ¥å æ’

·ø√π‰™πå´‘Ëß ®”°—¥ À¬ÿ¥¥”‡π‘πß“π (1) (5) é 2,000 99.20 1,984 2,385 ›

∫√‘…—∑ ‡Õ  ·Õπ¥å æ’ ‚°≈‡∫‘≈ ®”°—¥ Holding Company é 50,000 80.00 40,000 135,709 ›

∫√‘…—∑ ‡ √’«—≤πå øŸÑ¥ å ®”°—¥ Õÿμ “À°√√¡ é 2,000 99.96 1,999 32,205 ›

Õ“À“√ (4)

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Àπ૬ : æ—π∫“∑ª√–‡¿∑ ≈—°…≥– ∑ÿπ™”√–·≈â«  —¥ à«π μ“¡«‘∏’ μ“¡«‘∏’ ‡ß‘πªíπº≈°‘®°“√ §«“¡ —¡æ—π∏å (æ—π∫“∑) ‡ß‘π≈ß∑ÿπ √“§“∑ÿπ  à«π‰¥â‡ ’¬

(√âÕ¬≈–)∫√‘…—∑√à«¡

∫√‘…—∑ ‡Õ  ·Õπ¥å æ’ ‰¡‡πÕ√å

øŸÑ¥ ®”°—¥ „À⇙à“æ◊Èπ∑’ËÕ“§“√ é 1,000 50.00 500 1,798 ›

∫√‘…—∑ ‡Õ  ·Õπ¥å æ’ ‡§‡∑Õ√‘Ëß

®”°—¥ À¬ÿ¥¥”‡π‘πß“π (1) (3) é 1,000 50.00 500 50 155

∫√‘…—∑ ‡Õ™¥’ ¥‘ ∑√‘∫‘«‡μÕ√å  μ—«·∑π®”Àπà“¬

(ª√–‡∑»‰∑¬) ®”°—¥ Õ“À“√ é 100,000 49.00 48,998 39,429 ›

√«¡ 235,774 235,267 155

(1) À¬ÿ¥°“√¥”‡π‘πß“π ‚¥¬¢“¬ ‘π∑√—æ¬å ‚Õπ∫ÿ§≈“°√·≈– ‘∑∏‘„π°“√¥”‡π‘πß“π∑—ÈßÀ¡¥„Àâ·°à∫√‘…—∑ ‡Õ  ·Õπ¥å æ’ ‘́𥑇§∑ ®”°—¥ (¡À“™π) ∑—Èßπ’È

μ—Èß·μà‰μ√¡“  2 ªï 2541

(2) ‡¡◊ËÕ«—π∑’Ë 11 ∏—𫓧¡ 2541 ∑’˪√–™ÿ¡«‘ “¡—≠ºŸâ∂◊ÕÀÿâπ¢Õß∫√‘…—∑ ‡Õ  ·Õπ¥å æ’ §‘∑‡™àπ ®”°—¥ ´÷Ë߇ªìπ∫√‘…—∑¬àÕ¬ ‰¥â¡μ‘„Àâ≈¥∑ÿπ®¥∑–‡∫’¬π¢Õß

∫√‘…—∑≈߇ªìπ®”π«π‡ß‘π 45 ≈â“π∫“∑ ®“°®”π«πÀÿâπ “¡—≠ 600,000 Àÿâπ ¡Ÿ≈§à“Àÿâπ≈– 100 ∫“∑ ‡À≈◊Õ®”π«πÀÿâπ “¡—≠ 150,000 Àÿâπ ¡Ÿ≈§à“Àÿâπ≈–

100 ∫“∑ ‚¥¬§ß‡À≈◊Õ‡ªìπ∑ÿπ®¥∑–‡∫’¬π„À¡à®”π«π‡ß‘π 15 ≈â“π∫“∑ ·≈–‰¥â¥”‡π‘π°“√®¥∑–‡∫’¬π‡ª≈’ˬπ·ª≈ß∑ÿπ™”√–·≈â«μàÕ ”π—°ß“π∑–‡∫’¬π

Àÿâπ à«π∫√‘…—∑ °√–∑√«ßæ“≥‘™¬å ‡¡◊ËÕ«—π∑’Ë 29 ∏—𫓧¡ 2546

‡¡◊ËÕ«—π∑’Ë 15 ¡’π“§¡ 2548 ∑’˪√–™ÿ¡«‘ “¡—≠ºŸâ∂◊ÕÀÿâπ¢Õß∫√‘…—∑ ‡Õ  ·Õπ¥å æ’ §‘∑‡™àπ ®”°—¥ ÷́Ë߇ªìπ∫√‘…—∑¬àÕ¬ ‰¥â¡’¡μ‘„Àâ≈¥∑ÿπ®¥∑–‡∫’¬π¢Õß

∫√‘…—∑≈ß®”π«π‡ß‘π 11 ≈â“π∫“∑ ®“°®”π«πÀÿâπ “¡—≠ 150,000 Àÿâπ ¡Ÿ≈§à“Àÿâπ≈– 100 ∫“∑ ‡À≈◊Õ®”π«πÀÿâπ “¡—≠ 40,000 Àÿâπ ¡Ÿ≈§à“Àÿâπ≈– 100

∫“∑ ‚¥¬§ß‡À≈◊Õ‡ªìπ∑ÿπ®¥∑–‡∫’¬π„À¡à ®”π«π‡ß‘π 4 ≈â“π∫“∑ ·≈–‰¥â¥”‡π‘π°“√®¥∑–‡∫’¬π‡ª≈’ˬπ·ª≈ß∑ÿπ™”√–·≈â«μàÕ ”π—°ß“π∑–‡∫’¬πÀÿâπ à«π

∫√‘…—∑ °√–∑√«ßæ“≥‘™¬å ‡¡◊ËÕ«—π∑’Ë 19  ‘ßÀ“§¡ 2548

(3) ‡¡◊ËÕ«—π∑’Ë 31  ‘ßÀ“§¡ 2547 ∑’˪√–™ÿ¡«‘ “¡—≠ºŸâ∂◊ÕÀÿâπ¢Õß∫√‘…—∑ ‡Õ  ·Õπ¥å æ’ ‡§‡∑Õ√‘Ëß ®”°—¥ ÷́Ë߇ªìπ∫√‘…—∑√à«¡ ‰¥â¡’¡μ‘„Àâ‡≈‘°∫√‘…—∑ ÷́ËßμàÕ¡“

‡¡◊ËÕ«—π∑’Ë 15 °—𬓬π 2547 ∑’˪√–™ÿ¡«‘ “¡—≠‰¥â¡’¡μ‘Õπÿ¡—쑬◊π¬—π„π°“√®¥∑–‡∫’¬π‡≈‘°∫√‘…—∑ ·≈–‰¥â¥”‡π‘π°“√¬◊Ëπ§”¢Õ‡≈‘°∫√‘…—∑μàÕ ”π—°ß“π

∑–‡∫’¬πÀÿâπ à«π∫√‘…—∑°√–∑√«ßæ“≥‘™¬å·≈â« ‡¡◊ËÕ«—π∑’Ë 15 °—𬓬π 2547

(4) „π‡¥◊Õπμÿ≈“§¡ 2547 ∫√‘…—∑¥—ß°≈à“«‰¥âÀ¬ÿ¥¥”‡π‘π°“√ ·≈–‰¥â‚Õπ∫ÿ§≈“°√·≈– ‘∑∏‘„π°“√¥”‡π‘πß“π∑—ÈßÀ¡¥„Àâ·°à∫√‘…—∑ ‡Õ  ·Õπ¥å æ’ ‘́𥑇§∑

®”°—¥ (¡À“™π)

(5) ‡¡◊ËÕ«—π∑’Ë 24  ‘ßÀ“§¡ 2548 ∑’˪√–™ÿ¡«‘ “¡—≠ºŸâ∂◊ÕÀÿâπ¢Õß∫√‘…—∑ ‡Õ  ·Õπ¥å æ’ ‡∫‡°Õ√’Ë ‚ª√¥—° å ®”°—¥ ∫√‘…—∑ ‡Õ  ·Õπ¥å æ’ ¥‘ ∑√‘∫‘«™—Ëπ ·Õπ¥å ‡´≈≈å

®”°—¥ ·≈–∫√‘…—∑ ‡Õ  ·Õπ¥å æ’ ·ø√π‰™πå ‘́Ëß ®”°—¥ ´÷Ë߇ªìπ∫√‘…—∑¬àÕ¬ ‰¥â¡’¡μ‘„Àâ‡≈‘°∫√‘…—∑ ÷́ËßμàÕ¡“‡¡◊ËÕ«—π∑’Ë 12 °—𬓬π 2548 ∑’˪√–™ÿ¡«‘ “¡—≠

‰¥â¡’¡μ‘Õπÿ¡—쑬◊π¬—π„π°“√®¥∑–‡∫’¬π‡≈‘°∫√‘…—∑ ·≈–‰¥â¥”‡π‘π°“√¬◊Ëπ§”¢Õ‡≈‘°∫√‘…—∑μàÕ ”π—°ß“π∑–‡∫’¬πÀÿâπ à«π∫√‘…—∑°√–∑√«ßæ“≥‘™¬å·≈â« ‡¡◊ËÕ

«—π∑’Ë 26 °—𬓬π 2548

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S&P SYNDICATE PUBLIC COMPANY LIMITEDANNUAL REPORT 2005

9. ‡ß‘π≈ß∑ÿπ√–¬–¬“«Õ◊Ëπ

‡ß‘π≈ß∑ÿπ√–¬–¬“«Õ◊Ëπ ≥ «—π∑’Ë 31 ∏—𫓧¡ ª√–°Õ∫¥â«¬

Àπ૬ : æ—π∫“∑ß∫°“√‡ß‘π√«¡ ß∫°“√‡ß‘π‡©æ“–∫√‘…—∑

2548 2547 2548 2547‡ß‘π≈ß∑ÿπ∑—Ë«‰ª › 675 › ›

‡ß‘πΩ“°∏𓧓√ª√–‡¿∑ª√–®”∑’Ëμ‘¥¿“√–ºŸ°æ—π 24,530 25,055 2,540 2,540

‡ß‘π≈ß∑ÿπ√–¬–¬“«Õ◊Ëπ 24,530 25,730 2,540 2,540

10. ∑’Ë¥‘π Õ“§“√ ·≈–Õÿª°√≥å -  ÿ∑∏‘

∑’Ë¥‘π Õ“§“√·≈–Õÿª°√≥å -  ÿ∑∏‘ ≥ «—π∑’Ë 31 ∏—𫓧¡ 2548 ·≈– 2547 ª√–°Õ∫¥â«¬

Àπ૬ : æ—π∫“∑ß∫°“√‡ß‘π√«¡ ¬Õ¥§ß‡À≈◊Õ ‡æ‘Ë¡¢÷Èπ ≈¥≈ß ‚Õπ º≈μà“ß®“° ¬Õ¥§ß‡À≈◊Õ

≥ «—π∑’Ë √–À«à“ߪ√–‡¿∑ °“√·ª≈ß§à“ ≥ «—π∑’Ë31 ∏—𫓧¡  ‘π∑√—æ¬å/ ß∫°“√‡ß‘π 31 ∏—𫓧¡

2547 √“¬°“√ª√—∫ª√ÿß μà“ߪ√–‡∑» 2548√“§“∑ÿπ

∑’Ë¥‘π 232,165 › › › › 232,165

§à“ª√—∫ª√ÿß∑’Ë¥‘π 6,948 › (6,948) › › ›

Õ“§“√ ”π—°ß“π·≈– à«πª√—∫ª√ÿßÕ“§“√ 65,856 › (66) › › 65,790

Õ“§“√‚√ßß“π 131,968 › (1,841) › › 130,127

‡§√◊ËÕß®—°√·≈–Õÿª°√≥å 534,636 63,304 (23,643) 29,392 (4,397) 599,292

‡§√◊ËÕßμ°·μàß·≈–Õÿª°√≥å ”π—°ß“π 585,462 96,404 (24,144) 57,753 748 716,223

¬“πæ“Àπ– 45,276 7,642 (2,333) › 385 50,970

ß“π√–À«à“ß°àÕ √â“ß 73,922 147,840 › (87,145) › 134,617

√«¡μâπ∑ÿπ 1,676,233 315,190 (58,975) › (3,264) 1,929,184

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89

Àπ૬ : æ—π∫“∑ß∫°“√‡ß‘π√«¡ ¬Õ¥§ß‡À≈◊Õ ‡æ‘Ë¡¢÷Èπ ≈¥≈ß ‚Õπ º≈μà“ß®“° ¬Õ¥§ß‡À≈◊Õ

≥ «—π∑’Ë √–À«à“ߪ√–‡¿∑ °“√·ª≈ß§à“ ≥ «—π∑’Ë31 ∏—𫓧¡  ‘π∑√—æ¬å/ ß∫°“√‡ß‘π 31 ∏—𫓧¡

2547 √“¬°“√ª√—∫ª√ÿß μà“ߪ√–‡∑» 2548

§à“‡ ◊ËÕ¡√“§“ – ¡§à“ª√—∫ª√ÿß∑’Ë¥‘π 6,948 › (6,948) › › ›

Õ“§“√ ”π—°ß“π·≈– à«πª√—∫ª√ÿßÕ“§“√ 44,817 4,058 (65) › › 48,810

Õ“§“√‚√ßß“π 41,489 6,434 (1,841) › › 46,082

‡§√◊ËÕß®—°√·≈–Õÿª°√≥å 307,471 71,098 (22,395) › (1,292) 354,882

‡§√◊ËÕßμ°·μàß·≈–Õÿª°√≥å ”π—°ß“π 370,240 79,948 (20,639) › 667 430,216

¬“πæ“Àπ– 20,438 8,227 (1,963) (57) (38) 26,607

√«¡§à“‡ ◊ËÕ¡√“§“ – ¡ 791,403 169,765 (53,851) (57) (663) 906,597

∑’Ë¥‘π Õ“§“√·≈–Õÿª°√≥å -  ÿ∑∏‘ 884,830 1,022,587

§à“‡ ◊ËÕ¡√“§“ ”À√—∫ªï ‘Èπ ÿ¥«—π∑’Ë 31 ∏—𫓧¡

2548 169,765

2547 137,402

Àπ૬ : æ—π∫“∑ß∫°“√‡ß‘π‡©æ“– ¬Õ¥§ß‡À≈◊Õ ‡æ‘Ë¡¢÷Èπ ≈¥≈ß ‚Õπ ¬Õ¥§ß‡À≈◊Õ

≥ «—π∑’Ë √–À«à“ߪ√–‡¿∑ ≥ «—π∑’Ë31 ∏—𫓧¡  ‘π∑√—æ¬å/ 31 ∏—𫓧¡

2547 √“¬°“√ª√—∫ª√ÿß 2548√“§“∑ÿπ

∑’Ë¥‘π 232,165 › › › 232,165

§à“ª√—∫ª√ÿß∑’Ë¥‘π 6,948 › (6,948) › ›

Õ“§“√ ”π—°ß“π·≈– à«πª√—∫ª√ÿßÕ“§“√ 58,731 › (66) › 58,665

Õ“§“√‚√ßß“π 131,968 › (1,841) › 130,127

‡§√◊ËÕß®—°√·≈–Õÿª°√≥å 424,806 50,267 (23,643) 29,392 480,822

‡§√◊ËÕßμ°·μàß·≈–Õÿª°√≥å ”π—°ß“π 562,665 90,392 (24,144) 57,753 686,666

¬“πæ“Àπ– 42,473 5,448 (597) › 47,324

ß“π√–À«à“ß°àÕ √â“ß 73,922 147,840 › (87,145) 134,617

√«¡μâπ∑ÿπ 1,533,678 293,947 (57,239) › 1,770,386

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Àπ૬ : æ—π∫“∑ß∫°“√‡ß‘π‡©æ“– ¬Õ¥§ß‡À≈◊Õ ‡æ‘Ë¡¢÷Èπ ≈¥≈ß ‚Õπ ¬Õ¥§ß‡À≈◊Õ

≥ «—π∑’Ë √–À«à“ߪ√–‡¿∑ ≥ «—π∑’Ë31 ∏—𫓧¡  ‘π∑√—æ¬å/ 31 ∏—𫓧¡

2547 √“¬°“√ª√—∫ª√ÿß 2548

§à“‡ ◊ËÕ¡√“§“ – ¡§à“ª√—∫ª√ÿß∑’Ë¥‘π 6,948 › (6,948) › ›

Õ“§“√ ”π—°ß“π·≈– à«πª√—∫ª√ÿßÕ“§“√ 37,691 4,058 (65) › 41,684

Õ“§“√‚√ßß“π 41,489 6,434 (1,841) › 46,082

‡§√◊ËÕß®—°√·≈–Õÿª°√≥å 260,126 54,511 (22,395) › 292,242

‡§√◊ËÕßμ°·μàß·≈–Õÿª°√≥å ”π—°ß“π 356,369 74,356 (20,639) › 410,086

¬“πæ“Àπ– 18,807 7,599 (595) (57) 25,754

√«¡§à“‡ ◊ËÕ¡√“§“ – ¡ 721,430 146,958 (52,483) (57) 815,848

∑’Ë¥‘π Õ“§“√·≈–Õÿª°√≥å -  ÿ∑∏‘ 812,248 954,538

§à“‡ ◊ËÕ¡√“§“ ”À√—∫ªï ‘Èπ ÿ¥«—π∑’Ë 31 ∏—𫓧¡

2548 146,958

2547 123,105

§à“‡ ◊ËÕ¡√“§“ ”À√—∫Õ“§“√·≈–Õÿª°√≥å¢Õß∫√‘…—∑·≈–∫√‘…—∑¬àÕ¬ ”À√—∫ªï ‘Èπ ÿ¥«—π∑’Ë 31 ∏—𫓧¡

´÷Ëß· ¥ßÕ¬Ÿà„πμâπ∑ÿπ¢“¬·≈–μâπ∑ÿπ°“√„Àâ∫√‘°“√ ·≈–§à“„™â®à“¬„π°“√¢“¬·≈–∫√‘À“√ ¥—ßπ’È

Àπ૬ : æ—π∫“∑ß∫°“√‡ß‘π√«¡ ß∫°“√‡ß‘π‡©æ“–∫√‘…—∑

2548 2547 2548 2547μâπ∑ÿπ¢“¬·≈–μâπ∑ÿπ°“√„Àâ∫√‘°“√ 62,530 51,408 62,126 51,260

§à“„™â®à“¬„π°“√¢“¬·≈–∫√‘À“√ 107,235 85,994 84,832 71,845

√«¡ 169,765 137,402 146,958 123,105

√“§“μ“¡∫—≠™’°àÕπÀ—°§à“‡ ◊ËÕ¡√“§“ – ¡¢ÕßÕ“§“√·≈–Õÿª°√≥å ÷́ËßÀ—°§à“‡ ◊ËÕ¡√“§“∑—Èß®”π«π·≈â«

·μଗߧ߄™âß“πÕ¬Ÿà¢Õß∫√‘…—∑·≈–∫√‘…—∑¬àÕ¬ ≥ «—π∑’Ë 31 ∏—𫓧¡ 2548 ·≈– 2547 ¡’®”π«π‡ß‘π 437.39 ≈â“π∫“∑

·≈–®”π«π‡ß‘π 326.74 ≈â“π∫“∑ μ“¡≈”¥—∫

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11.  ‘π∑√—æ¬å ‰¡à¡’μ—«μπ -  ÿ∑∏‘

 ‘π∑√—æ¬å‰¡à¡’μ—«μπ -  ÿ∑∏‘ ≥ «—π∑’Ë 31 ∏—𫓧¡ ª√–°Õ∫¥â«¬

Àπ૬ : æ—π∫“∑ß∫°“√‡ß‘π√«¡ §à“æ—≤π“  ‘∑∏‘°“√‡™à“ §à“§«“¡π‘¬¡ √«¡

´Õøμå·«√å √Õμ—¥∫—≠™’ §à“§«“¡π‘¬¡ §à“§«“¡ √«¡§Õ¡æ‘«‡μÕ√å π‘¬¡μ‘¥≈∫√Õμ—¥∫—≠™’

√“§“∑ÿπ¬Õ¥¬°¡“μâπªï ≥ «—π∑’Ë 1 ¡°√“§¡ 2548 1,809 349,518 126,904 (2,063) 124,841 476,168

‡æ‘Ë¡¢÷Èπ 170 11,038 › › › 11,208

º≈μà“ß®“°°“√·ª≈ߧà“ß∫°“√‡ß‘π

¢Õß∫√‘…—∑¬àÕ¬μà“ߪ√–‡∑» › (4,107) › › › (4,107)

¬Õ¥§ß‡À≈◊Õª≈“¬ªï ≥ «—π∑’Ë 31 ∏—𫓧¡ 2548 1,979 356,449 126,904 (2,063) 124,841 483,269

§à“μ—¥®”Àπà“¬ – ¡¬Õ¥¬°¡“μâπªï ≥ «—π∑’Ë 1 ¡°√“§¡ 2548 177 173,666 126,904 (1,523) 125,381 299,224

§à“μ—¥®”Àπà“¬ 341 19,079 › (206) (206) 19,214

º≈μà“ß®“°°“√·ª≈ߧà“ß∫°“√‡ß‘π

¢Õß∫√‘…—∑¬àÕ¬μà“ߪ√–‡∑» › (1,613) › › › (1,613)

¬Õ¥§ß‡À≈◊Õª≈“¬ªï ≥ «—π∑’Ë 31 ∏—𫓧¡ 2548 518 191,132 126,904 (1,729) 125,175 316,825

¡Ÿ≈§à“μ“¡∫—≠™’ ÿ∑∏‘≥ «—π∑’Ë 1 ¡°√“§¡ 2548 1,632 175,852 › (540) (540) 176,944

≥ «—π∑’Ë 31 ∏—𫓧¡ 2548 1,461 165,317 › (334) (334) 166,444

Àπ૬ : æ—π∫“∑ß∫°“√‡ß‘π‡©æ“–∫√‘…—∑ §à“æ—≤π“  ‘∑∏‘°“√‡™à“ §à“§«“¡π‘¬¡ √«¡

´Õøμå·«√å √Õμ—¥∫—≠™’ §à“§«“¡π‘¬¡ §à“§«“¡ √«¡§Õ¡æ‘«‡μÕ√å π‘¬¡μ‘¥≈∫√Õμ—¥∫—≠™’

√“§“∑ÿπ¬Õ¥¬°¡“μâπªï ≥ «—π∑’Ë 1 ¡°√“§¡ 2548 1,809 277,738 126,904 (2,063) 124,841 404,388

‡æ‘Ë¡¢÷Èπ 170 11,038 › › › 11,208

¬Õ¥§ß‡À≈◊Õª≈“¬ªï ≥ «—π∑’Ë 31 ∏—𫓧¡ 2548 1,979 288,776 126,904 (2,063) 124,841 415,596

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11.  ‘π∑√—æ¬å ‰¡à¡’μ—«μπ -  ÿ∑∏‘ (μàÕ)

Àπ૬ : æ—π∫“∑ß∫°“√‡ß‘π‡©æ“–∫√‘…—∑ §à“æ—≤π“  ‘∑∏‘°“√‡™à“ §à“§«“¡π‘¬¡ √«¡

´Õøμå·«√å √Õμ—¥∫—≠™’ §à“§«“¡π‘¬¡ §à“§«“¡ √«¡§Õ¡æ‘«‡μÕ√å π‘¬¡μ‘¥≈∫√Õμ—¥∫—≠™’

§à“μ—¥®”Àπà“¬ – ¡¬Õ¥¬°¡“μâπªï ≥ «—π∑’Ë 1 ¡°√“§¡ 2548 177 147,556 126,904 (1,523) 125,381 273,114

§à“μ—¥∫—≠™’ 341 15,282 › (206) (206) 15,417

¬Õ¥§ß‡À≈◊Õª≈“¬ªï ≥ «—π∑’Ë 31 ∏—𫓧¡ 2548 518 162,838 126,904 (1,729) 125,175 288,531

¡Ÿ≈§à“μ“¡∫—≠™’ ÿ∑∏‘≥ «—π∑’Ë 1 ¡°√“§¡ 2548 1,632 130,182 › (540) (540) 131,274

≥ «—π∑’Ë 31 ∏—𫓧¡ 2548 1,461 125,938 › (334) (334) 127,065

§à“μ—¥®”Àπà“¬ ‘π∑√—æ¬å‰¡à¡’μ—«μπ ”À√—∫ªï ‘Èπ ÿ¥«—π∑’Ë 31 ∏—𫓧¡ 2548 ·≈– 2547 ÷́Ëß· ¥ß√«¡Õ¬Ÿà„π

μâπ∑ÿπ¢“¬·≈–μâπ∑ÿπ°“√„Àâ∫√‘°“√ §à“„™â®à“¬„π°“√¢“¬·≈–∫√‘À“√·≈–√“¬‰¥âÕ◊Ëπ ¥—ßπ’È

Àπ૬ : æ—π∫“∑ß∫°“√‡ß‘π√«¡ ß∫°“√‡ß‘π‡©æ“–∫√‘…—∑

2548 2547 2548 2547§à“„™â®à“¬„π°“√¢“¬·≈–∫√‘À“√ 19,420 18,083 15,623 14,839

√“¬‰¥âÕ◊Ëπ (206) (206) (206) (206)

√«¡ 19,214 17,877 15,417 14,633

12. ∑ÿπ‡√◊ÕπÀÿâπ

‡¡◊ËÕ«—π∑’Ë 28 ¡’π“§¡ 2545 ∑’˪√–™ÿ¡§≥–°√√¡°“√∫√‘…—∑‰¥â¡’¡μ‘„Àâ°”Àπ¥√“§“Àÿâπ “¡—≠‡æ‘Ë¡∑ÿπ∑’ˇ πÕ

¢“¬„Àâ·°àª√–™“™π∑—Ë«‰ª®”π«π 10 ≈â“πÀÿâπ ¡Ÿ≈§à“∑’Ëμ√“‰«âÀÿâπ≈– 5 ∫“∑ „π√“§“¢“¬Àÿâπ≈– 21 ∫“∑ ‚¥¬‡ πÕ

¢“¬æ√âÕ¡„∫ ”§—≠· ¥ß ‘∑∏‘∑’Ë®–´◊ÈÕÀÿâπ “¡—≠Õ“¬ÿ 5 ªï ®”π«π 5 ≈â“πÀπ૬ „π√“§“»Ÿπ¬å∫“∑ „πÕ—μ√“ à«π

2 Àÿâπ„À¡àμàÕ 1 Àπ૬„∫ ”§—≠· ¥ß ‘∑∏‘·≈–¡’√“§“„™â ‘∑∏‘∑’Ë®–´◊ÈÕÀÿâπ “¡—≠„π√“§“Àÿâπ≈– 18 ∫“∑ ÷́Ëß°”Àπ¥

√–¬–‡«≈“®Õß ◊́ÈÕÀÿâπ “¡—≠æ√âÕ¡„∫ ”§—≠· ¥ß ‘∑∏‘¥—ß°≈à“« √–À«à“ß«—π∑’Ë 4 - 5 ‡¡…“¬π 2545 √«¡∑—Èß°”Àπ¥

„∫ ”§—≠· ¥ß ‘∑∏‘∑’Ë®– ◊́ÈÕÀÿâπ “¡—≠∑’ËÕÕ°„Àⷰຟâ∂◊ÕÀÿâπ‡¥‘¡∑’Ë¡’√“¬™◊ËÕª√“°ØÕ¬Ÿà„π∑–‡∫’¬πÀÿâπ ≥ «—π∑’Ë 10 μÿ≈“§¡

2544 ®”π«π 30 ≈â“πÀπ૬ „πÕ—μ√“ à«π 2 Àÿâπ‡¥‘¡μàÕ 1 Àπ૬ „∫ ”§—≠· ¥ß ‘∑∏‘ ·≈–¡’√“§“„™â ‘∑∏‘∑’Ë®–´◊ÈÕ

Àÿâπ “¡—≠Àÿâπ≈– 18 ∫“∑

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13. „∫ ”§—≠· ¥ß ‘∑∏‘∑’Ë®–´◊ÈÕÀÿâπ “¡—≠

‡¡◊ËÕ«—π∑’Ë 9 ‡¡…“¬π 2545 ∫√‘…—∑ ‡Õ  ·Õπ¥å æ’ ‘́𥑇§∑ ®”°—¥ (¡À“™π) ÕÕ°„∫ ”§—≠· ¥ß ‘∑∏‘∑’Ë®–

´◊ÈÕÀÿâπ “¡—≠®”π«π 35 ≈â“πÀπ૬ μ“¡¡μ‘∑’˪√–™ÿ¡§≥–°√√¡°“√∫√‘…—∑ ‡¡◊ËÕ«—π∑’Ë 28 ¡’π“§¡ 2545 ‚¥¬¡’

√“¬≈–‡Õ’¬¥¥—ßπ’È

13.1 «‘∏’°“√‡ πÕ¢“¬

13.1.1 ®”π«π 30 ≈â“πÀπ૬ : ‡ πÕ¢“¬„Àⷰຟâ∂◊ÕÀÿâπ‡¥‘¡¢Õß∫√‘…—∑´÷Ëß¡’√“¬™◊ËÕ„π«—πªî¥ ¡ÿ¥

∑–‡∫’¬πºŸâ∂◊ÕÀÿâπ ≥ «—π∑’Ë 10 μÿ≈“§¡ 2544 „πÕ—μ√“ à«π 2 Àÿâπ

‡¥‘¡ μàÕ 1 „∫ ”§—≠· ¥ß ‘∑∏‘ („π°√≥’∑’Ë¡’‡»…Àÿâπ„Àâªí¥∑‘Èß)

13.1.2 ®”π«π 5 ≈â“πÀπ૬ : ‡ πÕ¢“¬„Àâ·°àª√–™“™π∑—Ë«‰ª ∑’Ë®ÕßÀÿâπ “¡—≠„À¡à¢Õß∫√‘…—∑

„πÕ—μ√“ à«π 2 Àÿâπ„À¡à μàÕ 1 „∫ ”§—≠· ¥ß ‘∑∏‘ („π°√≥’∑’Ë¡’

‡»…Àÿâπ„Àâªí¥∑‘Èß)

13.2 √“§“‡ πÕ¢“¬μàÕÀπ૬ : 0 ∫“∑

13.3 Õ—μ√“°“√„™â ‘∑∏‘ : „∫ ”§—≠· ¥ß ‘∑∏‘ 1 Àπ૬ „™â ‘∑∏‘´◊ÈÕÀÿâπ “¡—≠‰¥â 1 Àÿâπ

‡«âπ·μà®–¡’°“√ª√—∫Õ—μ√“°“√„™â ‘∑∏‘

13.4 √“§“„™â ‘∑∏‘ : √“§“Àÿâπ≈– 18 ∫“∑

13.5 Õ“¬ÿ¢Õß„∫ ”§—≠· ¥ß ‘∑∏‘ : 5 ªïπ—∫·μà«—π∑’ËÕÕ°„∫ ”§—≠· ¥ß ‘∑∏‘

13.6 √–¬–‡«≈“°“√„™â ‘∑∏‘ : ∑ÿ°Ê 3 ‡¥◊Õπ ¿“¬„π«—π∑”°“√ ÿ¥∑⓬ ¢Õ߇¥◊Õπ¡’π“§¡

¡‘∂ÿπ“¬π °—𬓬π ·≈–∏—𫓧¡ ‚¥¬ “¡“√∂„™â ‘∑∏‘§√—Èß·√°

„π«—π∑”°“√ ÿ¥∑⓬¢Õ߇¥◊Õπ¡‘∂ÿπ“¬π 2546

∫√‘…—∑‰¥â¥”‡π‘π°“√®¥∑–‡∫’¬π„∫ ”§—≠· ¥ß ‘∑∏‘∑’Ë®– ◊́ÈÕÀÿâπ “¡—≠ ‡ªìπÀ≈—°∑√—æ¬å®¥∑–‡∫’¬πμàÕ

μ≈“¥À≈—°∑√—æ¬å·Ààߪ√–‡∑»‰∑¬ ·≈–‰¥â√—∫Õπÿ¡—μ‘„À⇪ìπÀ≈—°∑√—æ¬å®¥∑–‡∫’¬πμ—Èß·μà«—π∑’Ë 10 情¿“§¡ 2545

‡ªìπμâπ¡“

„π√–À«à“ߪï 2547 ¡’°“√„™â ‘∑∏‘μ“¡„∫ ”§—≠· ¥ß ‘∑∏‘∑’Ë®–´◊ÈÕÀÿâπ “¡—≠®”π«π 3,077,300 Àπ૬

μ“¡√“§“„™â ‘∑∏‘Àπ૬≈– 18 ∫“∑ ‡ªìπ®”π«π‡ß‘π 55,391,400 ∫“∑ ‚¥¬∫√‘…—∑‰¥âÕÕ°Àÿâπ “¡—≠‡æ‘Ë¡∑ÿπ ”À√—∫

°“√„™â ‘∑∏‘¥—ß°≈à“«®”π«π 3,077,300 Àÿâπ „π√“§“Àÿâπ≈– 18 ∫“∑ ∫√‘…—∑‰¥â¥”‡π‘π°“√®¥∑–‡∫’¬π‡æ‘Ë¡∑ÿπ°—∫

°√–∑√«ßæ“≥‘™¬å ¥—ßπ’È

1. ®¥∑–‡∫’¬π‡æ‘Ë¡∑ÿπ®”π«π 228,000 Àÿâπ „π√“§“Àÿâπ≈– 18 ∫“∑ ‡¡◊ËÕ«—π∑’Ë 19 ‡¡…“¬π 2547

2. ®¥∑–‡∫’¬π‡æ‘Ë¡∑ÿπ®”π«π 78,900 Àÿâπ „π√“§“Àÿâπ≈– 18 ∫“∑ ‡¡◊ËÕ«—π∑’Ë 13 °√°Æ“§¡ 2547

3. ®¥∑–‡∫’¬π‡æ‘Ë¡∑ÿπ®”π«π 1,224,200 Àÿâπ „π√“§“Àÿâπ≈– 18 ∫“∑ ‡¡◊ËÕ«—π∑’Ë 13 μÿ≈“§¡ 2547

4. ®¥∑–‡∫’¬π‡æ‘Ë¡∑ÿπ®”π«π 1,546,200 Àÿâπ „π√“§“Àÿâπ≈– 18 ∫“∑ ‡¡◊ËÕ«—π∑’Ë 13 ¡°√“§¡ 2548

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S&P SYNDICATE PUBLIC COMPANY LIMITEDANNUAL REPORT 2005

„π√–À«à“ߪï 2548 ¡’°“√„™â ‘∑∏‘μ“¡„∫ ”§—≠· ¥ß ‘∑∏‘∑’Ë®–´◊ÈÕÀÿâπ “¡—≠®”π«π 12,099,500 Àπ૬ μ“¡

√“§“„™â ‘∑∏‘Àπ૬≈– 18 ∫“∑ ‡ªìπ®”π«π‡ß‘π 217,791,000 ∫“∑ ‚¥¬∫√‘…—∑‰¥âÕÕ°Àÿâπ “¡—≠‡æ‘Ë¡∑ÿπ ”À√—∫°“√

„™â ‘∑∏‘¥—ß°≈à“«®”π«π 12,099,500 Àÿâπ „π√“§“Àÿâπ≈– 18 ∫“∑ ∫√‘…—∑‰¥â¥”‡π‘π°“√®¥∑–‡∫’¬π‡æ‘Ë¡∑ÿπ°—∫

°√–∑√«ßæ“≥‘™¬å ¥—ßπ’È

1. ®¥∑–‡∫’¬π‡æ‘Ë¡∑ÿπ®”π«π 37,800 Àÿâπ „π√“§“Àÿâπ≈– 18 ∫“∑ ‡¡◊ËÕ«—π∑’Ë 12 ‡¡…“¬π 2548

2. ®¥∑–‡∫’¬π‡æ‘Ë¡∑ÿπ®”π«π 2,006,000 Àÿâπ „π√“§“Àÿâπ≈– 18 ∫“∑ ‡¡◊ËÕ«—π∑’Ë 11 °√°Æ“§¡ 2548

3. ®¥∑–‡∫’¬π‡æ‘Ë¡∑ÿπ®”π«π 55,400 Àÿâπ „π√“§“Àÿâπ≈– 18 ∫“∑ ‡¡◊ËÕ«—π∑’Ë 11 μÿ≈“§¡ 2548

4. ®¥∑–‡∫’¬π‡æ‘Ë¡∑ÿπ®”π«π 10,000,300 Àÿâπ „π√“§“Àÿâπ≈– 18 ∫“∑ ‡¡◊ËÕ«—π∑’Ë 9 ¡°√“§¡ 2549

≥ «—π∑’Ë 31 ∏—𫓧¡ 2548 ·≈– 2547 ∫√‘…—∑§ß‡À≈◊Õ„∫ ”§—≠· ¥ß ‘∑∏‘∑’Ë®–´◊ÈÕÀÿâπ “¡—≠∑’ˬ—ß¡‘‰¥â¡’

°“√„™â ‘∑∏‘ ®”π«π 18,046,200 Àπ૬ ·≈– 30,145,700 Àπ૬ μ“¡≈”¥—∫ ‚¥¬„∫ ”§—≠ “¡—≠ 1 Àπ૬ „™â ‘∑∏‘

´◊ÈÕÀÿâπ “¡—≠‰¥â 1 Àÿâπ

≥ «—π∑’Ë 31 ∏—𫓧¡ 2548 ·≈– 2547 ∫√‘…—∑¡’¿“√–ºŸ°æ—π∑’Ë®–μâÕß ”√ÕßÀÿâπ “¡—≠®”π«π 18,046,200

Àÿâπ ·≈– 30,145,700 Àÿâπ μ“¡≈”¥—∫ μ“¡√“§“∑’Ë„™â ‘∑∏‘ ¡Ÿ≈§à“Àÿâπ≈– 18 ∫“∑ ‡æ◊ËÕ√Õß√—∫°“√„™â ‘∑∏‘μ“¡

„∫ ”§—≠· ¥ß ‘∑∏‘„π°“√´◊ÈÕÀÿâπ à«π∑’ˇÀ≈◊Õ¥—ß°≈à“«

14. °”‰√μàÕÀÿâπ

°”‰√μàÕÀÿâπ  ”À√—∫ªï ‘Èπ ÿ¥«—π∑’Ë 31 ∏—𫓧¡ 2548 ·≈– 2547 ª√–°Õ∫¥â«¬

°”‰√ ÿ∑∏‘ ®”π«πÀÿâπ “¡—≠ °”‰√μàÕÀÿâπ∂—«‡©≈’ˬ∂à«ßπÈ”Àπ—°

æ—π∫“∑ æ—πÀÿâπ ∫“∑2548 2547 2548 2547 2548 2547

°”‰√μàÕÀÿâπ¢—Èπæ◊Èπ∞“𰔉√ ÿ∑∏‘ 203,601 183,227 75,941 72,304 2.68 2.53

º≈°√–∑∫¢ÕßÀÿâπ “¡—≠‡∑’¬∫‡∑à“ª√—∫≈¥ ‘∑∏‘∑’Ë®–‡≈◊Õ°´◊ÈÕÀÿâπ “¡—≠ 4,212 7,723

°”‰√μàÕÀÿâπª√—∫≈¥°”‰√∑’ˇªìπ¢ÕߺŸâ∂◊ÕÀÿâπ “¡—≠‚¥¬ ¡¡μ‘«à“¡’

°“√·ª≈ß„∫ ”§—≠· ¥ß ‘∑∏‘‡ªìπÀÿâπ “¡—≠ 203,601 183,227 80,153 80,027 2.54 2.29

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15. √“¬°“√°—∫∫√‘…—∑∑’ˇ°’ˬ«¢âÕß°—π

√“¬°“√§â“ à«πÀπ÷ËߢÕß∫√‘…—∑‰¥â√«¡√“¬°“√∑’ˇ°‘¥¢÷Èπ°—∫∫√‘…—∑∑’ˇ°’ˬ«¢âÕß°—π ́ ÷Ë߇°’ˬ«¢âÕß°—π‚¥¬°“√∂◊ÕÀÿâπ

À√◊Õ°“√¡’ºŸâ∂◊ÕÀÿâπÀ√◊Õ°√√¡°“√∫“ß à«π√à«¡°—π ¥—ßπ—Èπß∫°“√‡ß‘ππ’È®÷ß· ¥ß∂÷ߺ≈¢Õß√“¬°“√‡À≈à“π’È μ“¡∑’ˉ¥â

æ‘®“√≥“√à«¡°—π√–À«à“ß∫√‘…—∑·≈–∫√‘…—∑∑’ˇ°’ˬ«¢âÕß°—π

√“¬°“√√–À«à“ß°‘®°“√∑’ˇ°’ˬ«¢âÕß°—π ”À√—∫ªï ‘Èπ ÿ¥«—π∑’Ë 31 ∏—𫓧¡ 2548 ·≈– 2547 ¡’¥—ßπ’È

Àπ૬ : æ—π∫“∑ß∫°“√‡ß‘π√«¡ ß∫°“√‡ß‘π‡©æ“–∫√‘…—∑

2548 2547 2548 2547∫√‘…—∑¬àÕ¬

√“¬‰¥â§à“‡™à“Õ“§“√·≈–Õÿª°√≥å › › 230 4,374

√“¬‰¥âÕ◊ËπÊ › › 180 400

¥Õ°‡∫’Ȭ√—∫ › › › 35

 à«π·∫àß°”‰√®“°‡ß‘π≈ß∑ÿπμ“¡«‘∏’ à«π‰¥â‡ ’¬ › › 27,834 18,206

´◊ÈÕ ‘π§â“/∫√‘°“√ › › 41,142 58,289

∫√‘…—∑√à«¡√“¬‰¥â§à“‡™à“Õ“§“√·≈–Õÿª°√≥å 788 1,102 788 1,102

√“¬‰¥âÕ◊ËπÊ 1,102 2,501 1,102 2,501

¥Õ°‡∫’Ȭ√—∫ › 17 › 17

 à«π·∫àß°”‰√®“°‡ß‘π≈ß∑ÿπμ“¡«‘∏’ à«π‰¥â‡ ’¬ 4,306 727 4,306 727

´◊ÈÕ ‘π§â“/∫√‘°“√ 14,135 11,646 14,135 11,646

∫ÿ§§≈À√◊Õ°‘®°“√Õ◊Ëπ∑’ˇ°’ˬ«¢âÕß°—π§à“‡™à“Õ“§“√·≈–Õÿª°√≥å 2,832 2,952 2,832 2,952

§à“μÕ∫·∑π°√√¡°“√ 20,252 22,521 12,128 12,176

¬Õ¥§ß‡À≈◊Õ°—∫°‘®°“√∑’ˇ°’ˬ«¢âÕß°—π ≥ «—π∑’Ë 31 ∏—𫓧¡ 2548 ·≈– 2547 ¡’¥—ßπ’È

Àπ૬ : æ—π∫“∑ß∫°“√‡ß‘π√«¡ ß∫°“√‡ß‘π‡©æ“–∫√‘…—∑

2548 2547 2548 2547≈Ÿ°Àπ’È°“√§â“ (√«¡· ¥ß„π≈Ÿ°Àπ’È°“√§â“)

∫√‘…—∑√à«¡ 136 227 136 227

∫√‘…—∑Õ◊Ëπ∑’ˇ°’ˬ«¢âÕß°—π 5,656 6,007 4,909 4,909

√«¡ 5,792 6,234 5,045 5,136

À—° §à“‡º◊ËÕÀπ’È ß —¬®– Ÿ≠ (4,909) (4,909) (4,909) (4,909)

√«¡≈Ÿ°Àπ’È°“√§â“ -  ÿ∑∏‘ 883 1,325 136 227

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Àπ૬ : æ—π∫“∑ß∫°“√‡ß‘π√«¡ ß∫°“√‡ß‘π‡©æ“–∫√‘…—∑

2548 2547 2548 2547‡ß‘π„Àâ°Ÿâ¬◊¡√–¬– —Èπ·°à°‘®°“√∑’ˇ°’ˬ«¢âÕß°—π

(Õ—μ√“¥Õ°‡∫’ȬμàÕªï)

∫√‘…—∑¬àÕ¬∫√‘…—∑ ‡Õ  ·Õπ¥å æ’ ‚°≈‡∫‘≈ ®”°—¥

(√âÕ¬≈– 1.25 - 1.5) › › 177 66

∫√‘…—∑ ‡ √’«—≤πå øŸÑ¥ å ®”°—¥ (‰¡à¡’¥Õ°‡∫’Ȭ) › › 5 10

∫√‘…—∑ ‡Õ  ·Õπ¥å æ’ §‘∑‡™àπ (SDN BHD)

¡“‡≈‡ ’́¬ (‰¡à¡’¥Õ°‡∫’Ȭ) 1,785 2,758 › ›

∫√‘…—∑Õ◊Ëπ › 11 › 11

∫√‘…—∑√à«¡∫√‘…—∑ ¬Ÿ‡π’¬π  °“¬ ‡Õ  ·Õπ¥å æ’ ®”°—¥

(‰¡à¡’¥Õ°‡∫’Ȭ) 5,655 5,655 5,655 5,655

∫√‘…—∑ ‡Õ™¥’ ¥’ ∑√‘∫‘«‡μÕ√å  (ª√–‡∑»‰∑¬) ®”°—¥

(‰¡à¡’¥Õ°‡∫’Ȭ) 2,685 709 2,685 709

∫√‘…—∑ ¿—∑√“ ¥’‡«≈≈Õª‡¡âπ∑å ®”°—¥ (√âÕ¬≈– 6.0) 3,125 5,173 › ›

∫√‘…—∑∑’ˇ°’ˬ«¢âÕß°—π∫√‘…—∑ Õ‘π‡μÕ√凡 ‚´à ‡√ ∑—«√Õß∑å æ’∑’Õ’ ®”°—¥

(‰¡à¡’¥Õ°‡∫’Ȭ) › 137 › ›

∫√‘…—∑ æ’∑’ μ√—ßπŸ°“Œ“ ‡Õ  ·Õπ¥å æ’ Õ‘π‚¥π’‡´’¬

®”°—¥ (‰¡à¡’¥Õ°‡∫’Ȭ) 12,655 12,655 › ›

∫√‘…—∑Õ◊Ëπ 218 › › ›

√«¡ 26,123 27,098 8,522 6,451

À—° §à“‡º◊ËÕÀπ’È ß —¬®– Ÿ≠ (18,310) (18,310) (5,655) (5,655)

√«¡‡ß‘π„Àâ°Ÿâ¬◊¡√–¬– —Èπ·°à°‘®°“√∑’ˇ°’ˬ«¢âÕß°—π 7,813 8,788 2,867 796

‡ß‘π≈ß∑ÿπ´÷Ëß∫—π∑÷°‚¥¬«‘∏’ à«π‰¥â‡ ’¬∫√‘…—∑¬àÕ¬ 235 241 170,830 193,990

∫√‘…—∑√à«¡ 46,249 43,921 43,238 41,277

√«¡‡ß‘π≈ß∑ÿπ´÷Ëß∫—π∑÷°‚¥¬«‘∏’ à«π‰¥â‡ ’¬ 46,484 44,162 214,068 235,267

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‡¡◊ËÕ«—π∑’Ë 1 °—𬓬π 2546 ∫√‘…—∑ ‡Õ  ·Õπ¥å æ’ ‰¡‡πÕ√å øŸÑ¥ ®”°—¥ ‰¥â¢Õ‡ª≈’ˬπ·ª≈߇ß◊ËÕπ‰¢°“√™”√–

§◊π‡ß‘π°Ÿâ¬◊¡√–¬–¬“«°—∫∫√‘…—∑ ‡Õ  ·Õπ¥å æ’ ´‘𥑇§∑ ®”°—¥ (¡À“™π) ÷́Ëß¡’¬Õ¥§ß‡À≈◊Õ ≥ «—ππ—Èπ‡ªìπ®”π«π‡ß‘π

2.10 ≈â“π∫“∑ ®“°‡ß◊ËÕπ‰¢‡¥‘¡∑’Ë°”Àπ¥®à“¬™”√–§◊π‡ªìπ√“¬‰μ√¡“ ‰¡àπâÕ¬°«à“‰μ√¡“ ≈– 0.70 ≈â“π∫“∑ ¡“

‡ªìπ™”√–§◊π‡ªìπ√“¬‰μ√¡“ Ê ≈– 0.35 ≈â“π∫“∑ ·≈–™”√–§◊π‡ √Á® ‘Èπ¿“¬„π«—π∑’Ë 31 ∏—𫓧¡ 2547

Àπ૬ : æ—π∫“∑ß∫°“√‡ß‘π√«¡ ß∫°“√‡ß‘π‡©æ“–∫√‘…—∑

2548 2547 2548 2547‡®â“Àπ’È°“√§â“ (√«¡· ¥ß„π‡®â“Àπ’È°“√§â“)

∫√‘…—∑¬àÕ¬ › › 181 1,762

∫√‘…—∑√à«¡ 4,000 2,437 3,921 2,437

√«¡ 4,000 2,437 4,102 4,199

‡ß‘π°Ÿâ¬◊¡√–¬– —Èπ (Õ—μ√“¥Õ°‡∫’ȬμàÕªï)

∫√‘…—∑¬àÕ¬∫√‘…—∑ ‡Õ  ·Õπ¥å æ’ ‚°≈‡∫‘≈ ®”°—¥ › › 71 10

∫√‘…—∑ ‡Õ  ·Õπ¥å æ’ §‘∑‡™àπ ®”°—¥ (√âÕ¬≈– 1.5) › › 20 20

∫√‘…—∑ ‡ √’«—≤πå øŸÑ¥ å ®”°—¥ › › 17 17

∫√‘…—∑ ‡Õ  ·Õπ¥å æ’ ‰¡‡πÕ√åøŸÑ¥ ®”°—¥ › › 24 42

∫√‘…—∑√à«¡∫√‘…—∑ ‡Õ™¥’ ¥‘ ∑√‘∫‘«‡μÕ√å  (ª√–‡∑»‰∑¬) ®”°—¥ 354 395 341 339

√«¡ 354 395 473 428

¬Õ¥‡ª≈’ˬπ·ª≈ߢÕ߇ߑπ„Àâ°Ÿâ¬◊¡√–¬– —Èπ·°à°‘®°“√∑’ˇ°’ˬ«¢âÕß°—π„πß∫°“√‡ß‘π√«¡  ”À√—∫ªï ‘Èπ ÿ¥«—π∑’Ë

31 ∏—𫓧¡ 2548

Àπ૬ : æ—π∫“∑∫√‘…—∑√à«¡ °‘®°“√Õ◊Ëπ √«¡

∑’ˇ°’ˬ«¢âÕß°—π¬Õ¥§ß‡À≈◊Õ ≥ «—π∑’Ë 31 ∏—𫓧¡ 2547 3,604 23,494 27,098

‡æ‘Ë¡¢÷Èπ√–À«à“ߪï 21,220 1,413 22,633

≈¥≈ß√–À«à“ߪï (20,136) (3,472) (23,608)

¬Õ¥§ß‡À≈◊Õ ≥ «—π∑’Ë 31 ∏—𫓧¡ 2548 4,688 21,435 26,123

À—° §à“‡º◊ËÕÀπ’È ß —¬®– Ÿ≠ › (18,310) (18,310)

¬Õ¥§ß‡À≈◊Õ -  ÿ∑∏‘ 4,688 3,125 7,813

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¬Õ¥‡ª≈’ˬπ·ª≈ߢÕ߇ߑπ„Àâ°Ÿâ¬◊¡√–¬– —Èπ·°à°‘®°“√∑’ˇ°’ˬ«¢âÕß°—π„πß∫°“√‡ß‘π√«¡  ”À√—∫ªï ‘Èπ ÿ¥«—π∑’Ë

31 ∏—𫓧¡ 2547

Àπ૬ : æ—π∫“∑∫√‘…—∑√à«¡ °‘®°“√Õ◊Ëπ √«¡

∑’ˇ°’ˬ«¢âÕß°—π¬Õ¥§ß‡À≈◊Õ ≥ «—π∑’Ë 31 ∏—𫓧¡ 2546 9,587 20,832 30,419

‡æ‘Ë¡¢÷Èπ√–À«à“ߪï 26,786 6,685 33,471

≈¥≈ß√–À«à“ߪï (32,769) (4,023) (36,792)

¬Õ¥§ß‡À≈◊Õ ≥ «—π∑’Ë 31 ∏—𫓧¡ 2547 3,604 23,494 27,098

À—° §à“‡º◊ËÕÀπ’È ß —¬®– Ÿ≠ › (18,310) (18,310)

¬Õ¥§ß‡À≈◊Õ -  ÿ∑∏‘ 3,604 5,184 8,788

¬Õ¥‡ª≈’ˬπ·ª≈ߢÕ߇ߑπ„Àâ°Ÿâ¬◊¡√–¬– —Èπ·°à°‘®°“√∑’ˇ°’ˬ«¢âÕß°—π„πß∫°“√‡ß‘π‡©æ“–∫√‘…—∑  ”À√—∫

ªï ‘Èπ ÿ¥«—π∑’Ë 31 ∏—𫓧¡ 2548

Àπ૬ : æ—π∫“∑∫√‘…—∑¬àÕ¬ ∫√‘…—∑√à«¡ °‘®°“√Õ◊Ëπ √«¡

∑’ˇ°’ˬ«¢âÕß°—π¬Õ¥§ß‡À≈◊Õ ≥ «—π∑’Ë 31 ∏—𫓧¡ 2547 76 709 11 796

‡æ‘Ë¡¢÷Èπ√–À«à“ߪï 13,880 20,464 106 34,450

≈¥≈ß√–À«à“ߪï (13,774) (18,488) (117) (32,379)

¬Õ¥§ß‡À≈◊Õ ≥ «—π∑’Ë 31 ∏—𫓧¡ 2548 182 2,685 › 2,867

¬Õ¥‡ª≈’ˬπ·ª≈ߢÕ߇ߑπ„Àâ°Ÿâ¬◊¡√–¬– —Èπ·°à°‘®°“√∑’ˇ°’ˬ«¢âÕß°—π„πß∫°“√‡ß‘π‡©æ“–∫√‘…—∑  ”À√—∫

ªï ‘Èπ ÿ¥«—π∑’Ë 31 ∏—𫓧¡ 2547

Àπ૬ : æ—π∫“∑∫√‘…—∑¬àÕ¬ ∫√‘…—∑√à«¡ °‘®°“√Õ◊Ëπ √«¡

∑’ˇ°’ˬ«¢âÕß°—π¬Õ¥§ß‡À≈◊Õ ≥ «—π∑’Ë 31 ∏—𫓧¡ 2546 5,189 3,064 99 8,352

‡æ‘Ë¡¢÷Èπ√–À«à“ߪï 41,381 22,598 880 64,859

≈¥≈ß√–À«à“ߪï (46,494) (24,953) (968) (72,415)

¬Õ¥§ß‡À≈◊Õ ≥ «—π∑’Ë 31 ∏—𫓧¡ 2547 76 709 11 796

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99

°“√‡ª≈’ˬπ·ª≈ߢÕ߇ߑπ°Ÿâ¬◊¡√–¬– —Èπ®“°°‘®°“√∑’ˇ°’ˬ«¢âÕß°—π„πß∫°“√‡ß‘π√«¡  ”À√—∫ªï ‘Èπ ÿ¥«—π∑’Ë

31 ∏—𫓧¡ 2548

Àπ૬ : æ—π∫“∑∫√‘…—∑√à«¡ °‘®°“√Õ◊Ëπ √«¡

∑’ˇ°’ˬ«¢âÕß°—π¬Õ¥ß‡À≈◊Õ ≥ «—π∑’Ë 31 ∏—𫓧¡ 2547 395 › 395

‡æ‘Ë¡¢÷Èπ√–À«à“ߪï 4,084 › 4,084

≈¥≈ß√–À«à“ߪï (4,125) › (4,125)

¬Õ¥§ß‡À≈◊Õ ≥ «—π∑’Ë 31 ∏—𫓧¡ 2548 354 › 354

°“√‡ª≈’ˬπ·ª≈ߢÕ߇ߑπ°Ÿâ¬◊¡√–¬– —Èπ®“°°‘®°“√∑’ˇ°’ˬ«¢âÕß°—π„πß∫°“√‡ß‘π√«¡  ”À√—∫ªï ‘Èπ ÿ¥«—π∑’Ë

31 ∏—𫓧¡ 2547

Àπ૬ : æ—π∫“∑∫√‘…—∑√à«¡ °‘®°“√Õ◊Ëπ √«¡

∑’ˇ°’ˬ«¢âÕß°—π¬Õ¥§ß‡À≈◊Õ ≥ «—π∑’Ë 31 ∏—𫓧¡ 2546 1,589 › 1,589

‡æ‘Ë¡¢÷Èπ√–À«à“ߪï 3,902 › 3,902

≈¥≈ß√–À«à“ߪï (5,096) › (5,096)

¬Õ¥§ß‡À≈◊Õ ≥ «—π∑’Ë 31 ∏—𫓧¡ 2547 395 › 395

°“√‡ª≈’ˬπ·ª≈ߢÕ߇ߑπ°Ÿâ¬◊¡√–¬– —Èπ®“°°‘®°“√∑’ˇ°’ˬ«¢âÕß°—π„πß∫°“√‡ß‘π‡©æ“–∫√‘…—∑  ”À√—∫ªï ‘Èπ ÿ¥

«—π∑’Ë 31 ∏—𫓧¡ 2548

Àπ૬ : æ—π∫“∑∫√‘…—∑¬àÕ¬ ∫√‘…—∑√à«¡ √«¡

¬Õ¥§ß‡À≈◊Õ ≥ «—π∑’Ë 31 ∏—𫓧¡ 2547 47 381 428

‡æ‘Ë¡¢÷Èπ√–À«à“ߪï 485 4,084 4,569

≈¥≈ß√–À«à“ߪï (399) (4,125) (4,524)

¬Õ¥§ß‡À≈◊Õ ≥ «—π∑’Ë 31 ∏—𫓧¡ 2548 133 340 473

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°“√‡ª≈’ˬπ·ª≈ߢÕ߇ߑπ°Ÿâ¬◊¡√–¬– —Èπ®“°°‘®°“√∑’ˇ°’ˬ«¢âÕß°—π„πß∫°“√‡ß‘π‡©æ“–∫√‘…—∑  ”À√—∫ªï ‘Èπ ÿ¥

«—π∑’Ë 31 ∏—𫓧¡ 2547

Àπ૬ : æ—π∫“∑∫√‘…—∑¬àÕ¬ ∫√‘…—∑√à«¡ √«¡

¬Õ¥§ß‡À≈◊Õ ≥ «—π∑’Ë 31 ∏—𫓧¡ 2546 643 1,576 2,219

‡æ‘Ë¡¢÷Èπ√–À«à“ߪï 6,959 3,902 10,861

≈¥≈ß√–À«à“ߪï (7,555) (5,097) (12,652)

¬Õ¥§ß‡À≈◊Õ ≥ «—π∑’Ë 31 ∏—𫓧¡ 2547 47 381 428

16.  ”√Õßμ“¡°ÆÀ¡“¬

 ”√Õßμ“¡°ÆÀ¡“¬ ‰¥â·°à ‡ß‘π∑’ËμâÕß®—¥ √√‰«â‡ªìπ∑ÿπ ”√Õßμ“¡∫∑∫—≠≠—μ‘·Ààß°ÆÀ¡“¬‚¥¬∫√‘…—∑μâÕß

®—¥ √√°”‰√ ÿ∑∏‘ª√–®”ªï à«πÀπ÷Ë߉«â‡ªìπ∑ÿπ ”√Õß ‰¡àπâÕ¬°«à“√âÕ¬≈–Àâ“¢Õß°”‰√ ÿ∑∏‘ª√–®”ªïÀ—°¥â«¬¬Õ¥¢“¥∑ÿπ

 – ¡¬°¡“ (∂â“¡’) ®π°«à“∑ÿπ ”√Õßπ’È®–¡’®”π«π‰¡àπâÕ¬°«à“√âÕ¬≈– ‘∫¢Õß∑ÿπ®¥∑–‡∫’¬π ÷́Ëß ”√Õßμ“¡°ÆÀ¡“¬

π’È®–𔉪®à“¬‡ªìπ‡ß‘πªíπº≈‰¡à‰¥â

17. °“√®—¥ √√°”‰√·≈–‡ß‘πªíπº≈

‡¡◊ËÕ«—π∑’Ë 19 ‡¡…“¬π 2548 ∑’˪√–™ÿ¡ “¡—≠ºŸâ∂◊ÕÀÿâπ¢Õß∫√‘…—∑¡’¡μ‘Õπÿ¡—μ‘®à“¬‡ß‘πªíπº≈„πÕ—μ√“Àÿâπ≈– 1.50

∫“∑ ®”π«π 74,854,300 Àÿâ𠇪ìπ®”π«π‡ß‘π 112,281,450 ∫“∑ ‚¥¬¡’°”Àπ¥®à“¬¿“¬„π«—π∑’Ë 9 情¿“§¡ 2548

μàÕ¡“‡¡◊ËÕ«—π∑’Ë 10  ‘ßÀ“§¡ 2548 ∑’˪√–™ÿ¡§≥–°√√¡°“√¢Õß∫√‘…—∑¡’¡μ‘„Àâ®à“¬‡ß‘πªíπº≈√–À«à“ß°“≈·°àºŸâ∂◊ÕÀÿâπ

®”π«π 76,898,100 Àÿâπ „π√“§“Àÿâπ≈– 0.50 ∫“∑ √«¡‡ªìπ‡ß‘π∑—Èß ‘Èπ 38,449,050 ∫“∑ ·≈–‰¥â®à“¬‡ß‘πªíπº≈

¥—ß°≈à“«„Àⷰຟâ∂◊ÕÀÿâπ·≈â«„π«—π∑’Ë 9 °—𬓬π 2548

‡¡◊ËÕ«—π∑’Ë 16 ‡¡…“¬π 2547 ∑’˪√–™ÿ¡ “¡—≠ºŸâ∂◊ÕÀÿâπ¢Õß∫√‘…—∑¡’¡μ‘Õπÿ¡—μ‘®à“¬‡ß‘πªíπº≈„πÕ—μ√“Àÿâπ≈– 1.90

∫“∑ ®”π«π 71,777,000 Àÿâ𠇪ìπ®”π«π‡ß‘π 136,376,300 ∫“∑ ‚¥¬¡’°”Àπ¥®à“¬¿“¬„π«—π∑’Ë 14 情¿“§¡

2547 ·≈–®—¥ √√°”‰√‡ªìπ‡ß‘π ”√Õßμ“¡°ÆÀ¡“¬Õ’°®”π«π‡ß‘π 888,500 ∫“∑ μàÕ¡“‡¡◊ËÕ«—π∑’Ë 11  ‘ßÀ“§¡ 2547

∑’˪√–™ÿ¡§≥–°√√¡°“√¢Õß∫√‘…—∑¡’¡μ‘„Àâ®à“¬‡ß‘πªíπº≈√–À«à“ß°“≈·°àºŸâ∂◊ÕÀÿâπ®”π«π 72,083,900 Àÿâπ „π√“§“

Àÿâπ≈– 0.50 ∫“∑ √«¡‡ªìπ‡ß‘π∑—Èß ‘Èπ 36,041,950 ∫“∑ ·≈–‰¥â®à“¬‡ß‘πªíπº≈¥—ß°≈à“«„Àⷰຟâ∂◊ÕÀÿâπ·≈â«„π«—π∑’Ë

9 °—𬓬π 2547

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18. °“√‡ªî¥‡º¬¢âÕ¡Ÿ≈‡°’ˬ«°—∫‡§√◊ËÕß¡◊Õ∑“ß°“√‡ß‘π

∫√‘…—∑‰¥â√“¬ß“π·≈–‡ªî¥‡º¬¢âÕ¡Ÿ≈‡§√◊ËÕß¡◊Õ∑“ß°“√‡ß‘π¢Õß∫√‘…—∑¥—ßμàÕ‰ªπ’È

18.1 π‚¬∫“¬°“√∫—≠™’

√“¬≈–‡Õ’¬¥¢Õßπ‚¬∫“¬°“√∫—≠™’∑’Ë ”§—≠ ‰¥â‡ªî¥‡º¬‰«â·≈â«„πÀ¡“¬‡Àμÿª√–°Õ∫ß∫°“√‡ß‘π¢âÕ 3

18.2 §«“¡‡ ’ˬߥâ“π ‘π‡™◊ËÕ

§«“¡‡ ’ˬߥâ“π ‘π‡™◊ËÕ‡°‘¥®“°≈Ÿ°§â“‰¡àªØ‘∫—μ‘μ“¡‡ß◊ËÕπ‰¢°“√ ◊́ÈÕ¢“¬ ∑”„Àâ ‰¡à “¡“√∂‡√’¬°‡°Á∫Àπ’È

‰¥â´÷Ëß°àÕ„À⇰‘¥§«“¡‡ ’¬À“¬·°à∫√‘…—∑ ∫√‘…—∑¡’§«“¡‡ ’ˬ߇°’ˬ«°—∫°“√°√–®ÿ°μ—«¢Õß ‘π‡™◊ËÕ‰¡à¡“°

‡π◊ËÕß®“°∫√‘…—∑¡’π‚¬∫“¬∑’Ë®–∑”∏ÿ√°√√¡ à«π„À≠à°—∫∫√‘…—∑§Ÿà§â“∑’Ë¡’§«“¡πà“‡™◊ËÕ∂◊Õ ‡æ◊ËÕ≈¥‚Õ°“ 

°“√ Ÿ≠‡ ’¬∑“ß°“√‡ß‘π®“°°“√‰¡à “¡“√∂ªØ‘∫—μ‘μ“¡ —≠≠“‰¥â

 ”À√—∫ ‘π∑√—æ¬å∑“ß°“√‡ß‘π∑’Ë· ¥ß„πß∫¥ÿ≈ √“§“μ“¡∫—≠™’¢Õß ‘π∑√—æ¬å∂◊Õ‡ªìπ¡Ÿ≈§à“ Ÿß ÿ¥¢Õß

§«“¡‡ ’ˬß∑’ˇ°‘¥®“°°“√‰¡àªØ‘∫—μ‘μ“¡ —≠≠“

18.3 §«“¡‡ ’ˬ߇°’ˬ«°—∫Õ—μ√“¥Õ°‡∫’Ȭ

§«“¡‡ ’ˬ߇°’ˬ«°—∫Õ—μ√“¥Õ°‡∫’Ȭ‡°‘¥®“°°“√∑’ËÕ—μ√“¥Õ°‡∫’Ȭ®–‡ª≈’ˬπ·ª≈߉ª ÷́Ëß°àÕ„À⇰‘¥º≈

‡ ’¬À“¬·°à∫√‘…—∑„πß«¥ªí®®ÿ∫—π·≈–ß«¥μàÕÊ ‰ª ÷́Ëß∫√‘…—∑§“¥«à“º≈°√–∑∫®“°Õ—μ√“¥Õ°‡∫’Ȭ∑’Ë®–

‡ª≈’ˬπ·ª≈ß Ÿß¢÷Èπ‰¡à¡’ “√– ”§—≠μàÕ¥Õ°‡∫’Ȭ®à“¬ ‡π◊ËÕß®“°‡ß‘π°Ÿâ¬◊¡¢Õß∫√‘…—∑¡’®”π«π‰¡à¡’

π—¬ ”§—≠

18.4 §«“¡‡ ’ˬ߮“°Õ—μ√“·≈°‡ª≈’ˬπ‡ß‘πμ√“μà“ߪ√–‡∑»

§«“¡‡ ’ˬ߮“°Õ—μ√“·≈°‡ª≈’Ë¬π‡°‘¥®“°°“√∑’ËÕ—μ√“·≈°‡ª≈’ˬπ‡ß‘πμ√“μà“ߪ√–‡∑»‡ª≈’ˬπ·ª≈߉ª

´÷Ëß°àÕ„À⇰‘¥§«“¡‡ ’¬À“¬·°à∫√‘…—∑∫√‘…—∑„πß«¥ªí®®ÿ∫—π·≈–ß«¥μàÕ‰ª ´÷Ëß∫√‘…—∑§“¥«à“º≈°√–∑∫

®“°°“√‡ª≈’ˬπ·ª≈ßÕ—μ√“·≈°‡ª≈’ˬπ‰¡à¡’ “√– ”§—≠μàÕ ‘π∑√—æ¬å·≈–Àπ’È ‘π∑“ß°“√‡ß‘π∑’ˇªìπ

‡ß‘π °ÿ≈μà“ߪ√–‡∑» ‡π◊ËÕß®“°∏ÿ√°√√¡ à«π„À≠à¢Õß∫√‘…—∑∑”„π °ÿ≈‡ß‘π∫“∑

18.5 ª√–¡“≥°“√√“§“¬ÿμ‘∏√√¡ ”À√—∫‡§√◊ËÕß¡◊Õ∑“ß°“√‡ß‘π

¡“μ√∞“π°“√∫—≠™’¢Õ߉∑¬©∫—∫∑’Ë 48 ç°“√· ¥ß√“¬°“√·≈–°“√‡ªî¥‡º¬¢âÕ¡Ÿ≈ ”À√—∫‡§√◊ËÕß¡◊Õ

∑“ß°“√‡ß‘πé °”Àπ¥„À⇪º¬¡Ÿ≈§à“¬ÿμ‘∏√√¡ ´÷ËßμâÕß„™â¥ÿ≈¬æ‘π‘®„π°“√ª√–¡“≥¡Ÿ≈§à“¬ÿμ‘∏√√¡

¥—ßπ—Èπ ¡Ÿ≈§à“¬ÿμ‘∏√√¡∑’˪√–¡“≥¢÷Èπ∑’ˇªî¥‡º¬„πÀ¡“¬‡Àμÿª√–°Õ∫ß∫°“√‡ß‘ππ’È®÷߉¡à®”‡ªìπμâÕß∫àß™’È

∂÷ß®”π«π‡ß‘π´÷Ë߇°‘¥¢÷Èπ®√‘ß„πμ≈“¥·≈°‡ª≈’ˬπ„πªí®®ÿ∫—π

°“√„™â¢âÕ ¡¡ÿμ‘∞“π∑“ß°“√μ≈“¥·≈–À√◊Õ«‘∏’°“√ª√–¡“≥∑’Ë·μ°μà“ß°—πÕ“®¡’º≈°√–∑∫∑’Ë¡’ “√–

 ”§—≠„π¡Ÿ≈§à“¬ÿμ‘∏√√¡∑’˪√–¡“≥¢÷Èπ ∫√‘…—∑„™â«‘∏’°“√·≈–¢âÕ ¡¡ÿμ‘∞“π¥—ßμàÕ‰ªπ’È „π°“√ª√–¡“≥

¡Ÿ≈§à“¬ÿμ‘∏√√¡¢Õ߇§√◊ËÕß¡◊Õ∑“ß°“√‡ß‘π

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‡ß‘π ¥·≈–√“¬°“√‡∑’¬∫‡∑à“‡ß‘π ¥ ‡ß‘π≈ß∑ÿπ™—Ë«§√“« ≈Ÿ°Àπ’È°“√§â“ ‡ß‘π„Àâ°Ÿâ¬◊¡√–¬– —Èπ·°à°‘®°“√

∑’ˇ°’ˬ«¢âÕß°—π ‡ß‘π„Àâ°Ÿâ¬◊¡·°à∫√‘…—∑∑’ˇ°’ˬ«¢âÕß°—π ‡ß‘π‡∫‘°‡°‘π∫—≠™’·≈–‡ß‘π°Ÿâ¬◊¡√–¬– —Èπ®“°

 ∂“∫—π°“√‡ß‘𠇮â“Àπ’È°“√§â“·≈–‡ß‘π°Ÿâ¬◊¡√–¬– —Èπ®“°°‘®°“√∑’ˇ°’ˬ«¢âÕß°—π ¡’¡Ÿ≈§à“μ“¡∫—≠™’

®”π«π„°≈⇧’¬ß°—∫¡Ÿ≈§à“¬ÿμ‘∏√√¡‚¥¬ª√–¡“≥ ‡π◊ËÕß®“°§√∫°”Àπ¥™”√–„π√–¬–‡«≈“Õ—π —Èπ

‡ß‘π≈ß∑ÿπ„π°‘®°“√∑’ˇ°’ˬ«¢âÕß°—π ¡Ÿ≈§à“¬ÿμ‘∏√√¡¢Õ߇ߑπ≈ß∑ÿπ‰¥â§”π«≥μ“¡«‘∏’°“√∑’Ë°≈à“«‰«â„π

À¡“¬‡Àμÿª√–°Õ∫ß∫°“√‡ß‘π¢âÕ 3

19. ¢âÕ¡Ÿ≈®”·π°μ“¡ à«πß“π

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S&P SYNDICATE PUBLIC COMPANY LIMITEDANNUAL REPORT 2005

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‚∑√»—æ∑å (02) 381-3412-29

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105

CONTENTS

● Financial Highlights 106

● Message from the Chairman 108

● Business Profile 110– Nature of business 110– Business overview of the Company and its subsidiaries 111– Revenue structure 113– Products and services 116– Marketing 122– Procurement process for the Company and its subsidiaries 123– Industry situation and competition 124– Research and development 125

● Future Projects 126

● Risk Factors 127

● Shareholders’ Structure 128– 10 major shareholders 128– Dividend payment policy 129

● Management Structure and Corporate Governance 130– Directorial Structure 130

The Board of Directors 130Audit Committee 130Executive Committee 130Management Team 131

– Nomination of Directors and Executives 139– Executives’ remuneration 139

Monetary remuneration 139Other remuneration provided 140

– Corporate governance 140– Insider information issues 145– Internal controls 146– Personnel 147

● Connected Transactions 148

● Analysis of Operating Performance and Financial Status 150

● Report of the Audit Committee 152

● Report of the Independent Certified Public Accountants 154

● Financial Statements 155

● General Corporate Information and Other References 188

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S&P SYNDICATE PUBLIC COMPANY LIMITEDANNUAL REPORT 2005

FINANCIAL HIGHLIGHTS

Operating Performance 2005 2004 2003 2002 2001

(Units: Thousand Baht)

Revenue from sales and services 3,361,307 2,994,692 2,550,397 2,324,735 2,142,303

Other income 53,805 49,113 41,461 33,367 41,065

Total revenue 3,415,112 3,043,805 2,591,859 2,362,840 2,186,408

Gross profit 1,428,276 1,256,982 1,064,531 977,999 921,903

Net profit (loss) 203,601 183,227 176,164 202,994 171,928

Financial Status

(Units: Thousand Baht)

Current assets 777,585 586,254 567,085 521,284 465,158

Total assets 2,084,535 1,748,889 1,599,823 1,498,712 1,315,684

Total liabilities 511,853 444,396 373,348 352,969 480,974

Shareholder’s equity 1,572,682 1,304,493 1,226,475 1,145,743 834,710

Paid-up capital 434,769 374,271 358,885 350,000 300,000

Net cash provided by operating activities 414,370 326,379 348,671 318,955 272,428

Financial Ratios

(Units: Percent)

Return on investment 9.77 10.48 11.01 13.54 13.07

Return on equity 12.95 14.05 14.37 17.72 20.60

Net profit margin 5.97 6.02 6.80 8.59 7.85

Debt to equity 0.3:1 0.3:1 0.3:1 0.3:1 0.6:1

Growth Rates

(Units: Percent)

Total revenue growth 12.20 17.44 9.69 8.07 12.07

Net profit growth 11.12 4.01 (13.20) 18.07 11.92

Total assets growth 19.19 9.32 6.74 13.91 14.63

Per share values

(Units:Bath/share) (Par 5.- Baht) (Par 5.- Baht) (Par 5.- Baht) (Par 5.- Baht) (Par 5.- Baht)

Book value per share 18.09 17.43 17.09 16.37 13.91

Earnings per share 2.68 2.53 2.50 3.03 2.87

Dividends per share – 2.00 1.90 1.90 1.80

Share Capital

(Units: Thousand Shares) (Par 5.- Baht) (Par 5.- Baht) (Par 5.- Baht) (Par 5.- Baht) (Par 5.- Baht)

Registered Ordinary Shares 105,000 105,000 105,000 105,000 105,000

Number of Shares Issued and Paid-Up 86,954 74,854 71,777 70,000 60,000

Weighted average Shares 75,941 72,304 70,413 66,959 60,000

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S&P SYNDICATE PUBLIC COMPANY LIMITEDANNUAL REPORT 2005

MESSAGE FROM THE CHAIRMAN

2005 proved to be another chapter for success, with healthy growth of the Company’s operatingresults and the expansion of an additional 36 restaurants and bakery shop outlets. Meanwhile, thedomestic market base for bakery products, frozen meals and sausage items widened, opening up newdistribution channels in superstores and convenience stores. The Company also expanded its internationalfrontiers with the export of bakery products and frozen meals to Japan, Switzerland, France, the UnitedStates, Canada, Australia, Singapore, Taiwan and Myanmar.

The year was noteworthy for several proud distinctions, highlights being recipient of the PrimeMinister’s Export Award 2005 for Patara Fine Thai Cuisine restaurants in London, and the SuperbrandsThailand 2005 award for S&P as one of the “top of the mind” brands preferred by Thai consumers.

Meanwhile, the Company expanded the Good Manufacturing Practice (GMP) project for foodhygiene to all 233 of its restaurants and bakery shops. This follows in the footsteps of 5 initial restaurantbranches under the project, which received GMP certification from the Office of Thai Industrial Standardsin 2005. All the raw materials purchased and sourced for the restaurants and bakery shops are strictlycontrolled to ensure the highest standards of quality and safety. This has resulted in the Company beinghonoured with the “Clean Food, Good Taste” and “Food Safety” signs from the Ministry of PublicHealth.

The bakery and food production factories initiated ongoing programs to develop their qualitysystem programs. Their efforts were rewarded with coveted standards certification, including GMP,HACCP and ISO 9001, from various official agencies such as the Thai Food and Drug Administration; theMinistry of Public Health; the Department of Agriculture; the Department of Fisheries; and the Ministryof Agriculture and Cooperatives. These certifications enhance the confidence that consumers have entrustedin the Company’s products for the past 33 years.

As always, the Company supported activities to benefit society, such as the “S&P Happy Bakery”project for Primary Level 3 students, taken to 30 schools throughout Bangkok. The project delighted andinspired youngsters to express their power of imagination and creativity, giving them a free hand todecorate the Company’s cakes themselves. The Company also spread delicious joy with the donation ofcakes to children and the disadvantaged of society through various foundations, children’s welfare homes

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and centres for the underprivileged. A total of 42 worthy causes received these donations, as part of the“2005 Wishes - Cake A Wish, Make A Wish” project, in accordance with the expressed intentions ofcustomers. Furthermore, the Company provided monetary and product donations to charitable institutionsand student bodies for use in various projects reaching out to remote and underprivileged areas of thecountry.

In 2006, the Company intends to employ pro-active marketing strategies, in order to swiftlyrespond to dynamic changes, competition and customer needs. The aim is to attract more new customersinto the outlets and thereby create consistent future business growth. The Company plans to open 10new restaurants and another 25 bakery shops in high traffic locations such as leading shopping centres,supermarkets, hypermarkets, hospitals, office buildings and petrol stations. There are also plans torenovate and refresh existing outlets with an image suitable for each individual location.

The constant taste of success has been made possible through the capabilities and commitmentof the Company’s employees and management, as well as the Executive team and all our Directors.Together, they have devoted their time and efforts to ensuring the growth and prosperity of the Company.I would therefore like to take this opportunity to personally express my sincere gratitude to one and all,for their unwavering dedication.

(Patara Sila-On)Chairman

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S&P SYNDICATE PUBLIC COMPANY LIMITEDANNUAL REPORT 2005

BUSINESS PROFILE

Nature of business

Background and major milestones

S&P Syndicate Public Company Limited, or simply S&P Co., Ltd. as it was originally known, wasfounded in 1973 by the Raiva and Sila-On siblings. Their modest mission was to create a quality foodand bakery outlet in a casual setting, serving a mid-income clientele. The first S&P branch was locatedin Sukhumvit Soi 23. The standard of “S&P” food and service quickly established a reputation for itselfand gained customers’ acceptance. This led to the opening of other branches in several prime locationsthroughout Bangkok.

In 1984, the Company constructed its first bakery factory, producing fresh cakes and variousbaked goods, to meet a growing market appetite.

With 1989 came a major turning point with the firm’s listing on the Stock Exchange of Thailand.This coincided with significant investments in a rapid succession of new restaurant and bakery outlets,including the opening of the first overseas branch of Patara Fine Thai Cuisine in London, England. Thiswas followed by new product and service innovations, such as the line of frozen prepared meals underthe “Quick Meal” concept; the gaining of sole licensee rights for Haagen-Dazs ice-cream in Thailand; andhome delivery services, offering customers new levels of convenience. The Company also entered intojoint investments with experienced local business visionaries in Singapore, Taiwan and Switzerland, todebut Thai restaurants in these markets.

1998 was the year of corporate restructuring for the S&P group of companies. The streamlininginvolved 4 subsidiaries ceasing operations and transferring their businesses under the single umbrella ofthe Company, in the interests of enhanced efficiency and flexibility.

By 1999, the bakery factory and the food production factory gained HACCP (Hazard AnalysisCritical Control Point) certification. This food production standard is globally accepted within the foodmanufacturing industry. Meanwhile, a new restaurant concept was unveiled under the “Patio” name,offering a menu inspired by contemporary international cooking trends.

In 2002, the bakery factory received the GMP (Good Manufacturing Practice) standard certification.In addition, the factory’s laboratory facilities were awarded with the ISO-IEC 17025 certification from theOffice of Industrial Standards, for production processes. The year was also noteworthy for the introductionof “Blue Cup” coffee corners in existing S&P restaurants. On an international note, the first branch ofthe trendy “THAI” restaurant opened in Switzerland.

2003 saw a major product launch with the line of “Delio” cookies, which proved to be aninstant recipe for success. A branch of “Patio” opened in Taiwan, to cater to the growing populardemand for a new blend of Thai-Western cooking. On the manufacturing side, the factory facilities atthe Lardkrabang Industrial Estate were expanded with the acquisition of an adjacent plant. Renovationswere made to further increase the production capacity of the Company’s frozen food products.

2004 was welcomed in with another new dining concept : Vanilla Industry, created with asophisticated, young crowd in mind. The Company’s restaurants likewise gained stature with the Ministryof Public Health’s granting of the “Clean Food, Good Taste” and “Food Safety” signs for its network of

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more than 70 restaurants and bakery shops. Furthermore, 5 full-service S&P restaurant outlets receivedGMP certification from the Office of Industrial Product Standards.

2005 was a good year for restaurant expansion, with 1 new branch of Vanilla Industry and theopening of a “Grand Patio” in Taiwan. Also in the global marketplace, the London branch of “Patara”received the distinction of the PM Award 2005 (the Prime Minister’s Export Award 2005 in the categoryof Best Service Provider. This underlined the Company’s status as a pioneer of Thai restaurants abroad.The Company also received the “Superbrands Thailand 2005” award, recognizing S&P’s favoured statusas a “top of the mind” brandname amongst Thai consumers.

Business overview of the Company and its subsidiaries

S&P Syndicate Public Company Limited and its group of companies operates a restaurant andbakery business, which includes the distribution of products under the “S&P” name, categorised asfollows.

Domestic restaurants and bakeries the operation of restaurant branches and bakeryshops nationwide, under the various brands of “S&P”,“Patio”, “Patara”, “Vanilla”, “Golden Dragon”, and“Bluecup” coffee.

Overseas restaurants the operation of Thai restaurants abroad under thenames “Patara”, “Siam Kitchen”, “Thai” and “Patio”

Production and distribution the production and distribution of bakery products,of other products frozen prepared foods, sausage and ham products,

pasta, food colourings and essences used in the foodindustry. These are sold under the names “S&P”,“Delio”, “Patio”, “Vanilla”, “Bluecup” and “Royallee”.The products are distributed through the Company’sown restaurants and bakery shops,

Other services the provision of other related services, such as homedelivery of foods and outside catering.

The S&P group of companies comprises 3 subsidiaries and 1 joint venture, with details as follows.

Subsidiaries

1. S&P Global Co., Ltd. is a subsidiary company that operates Thai restaurants abroad, bothin the form of wholly-owned firms and joint ventures established with foreign partner companies. SinceS&P Global has existing expertise in restaurant management and personnel teams with specialized foodknowledge and skills, it selects local partners with relevant industry experience and an intimate knowledgeof the market preferences of the target country. This it allows it to operate its business in the chosencountry more conveniently, while complying with the laws and regulations of that country.

The companies created as investments in foreign countries are detailed below.

1. S&P Restaurants Ltd. operates Thai restaurants under the “Patara” brandname in London,England. There are currently 4 branches.

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S&P SYNDICATE PUBLIC COMPANY LIMITEDANNUAL REPORT 2005

2. Patara (Geneva) SA operates a Thai restaurant under the “Patara” name in Geneva,Switzerland. There is currently 1 branch.

3. Theme Foods (PTE) Ltd. operates Thai restaurants under the “Patara” name in Singapore.There are currently 2 branches.

4. Siam Kitchen Causeway Point (PTE) Ltd. operates Thai restaurants under the “Siam Kitchen”brand in Singapore. There are currently 7 branches.

5. Patara Taiwan Co., Ltd. operates a Thai restaurant under the “Patara” name in Taiwan.There is currently 1 branch.

6. Patio International Co., Ltd. operates a restaurant under the “Patio” name in Taiwan.There is currently 1 branch.

7. Patara Development SA operates a restaurant under the “THAI” name in Geneva,Switzerland. There is currently 1 branch.

8. Siam Kitchen SDN. BHD. operated a restaurant under the “Siam Kitchen” brand inMalaysia. The outlet has closed since 30 September 2005.

2. Seriwat Foods Co., Ltd. is a producer of sausage, ham and pasta products, including foodcolourings and essences used in the food industry. It also produces various flavourings for the othercompanies within the Group and outside clients. Seriwat Foods transferred its business activities to S&PSyndicate Public Company Limited in October 2004.

3. S&P Assets Co., Ltd. (formerly S&P Minor Foods Co., Ltd.) is a joint venture company inwhich the Company is a shareholder. The other 50 percent is held by the Minor Foods Group PublicCo., Ltd. In 2005, this firm became a subsidiary company, with the objective of developing real estateinto rental locations for restaurants. At present, the Company is the owner of a leasehold property andbuilding in Sukhumvit Soi 26. The building is rented out to a S&P restaurant, as well as other tenants.

Subsidiaries with ceased operations

S&P Kitchen Co., Ltd. operated as the producer of meals and provider of services in theCompany’s restaurants. The subsidiary ceased operations as of 1998, but has not closed its accounts.However, all assets were transferred to the Company, for it to conduct its operations on its behalf. In2003, the subsidiary’s registered capital was reduced from the original 60 million Baht, to 15 million Baht.Subsequently, in 2005, registered capital was again reduced from 15 million Baht to 4 million Baht.

S&P Bakery Products Co., Ltd. was the producer and wholesaler of bakery products to theCompany. It ceased operations in 1998, and has since closed its accounts as of 26 September 2005.

S&P Distribution and Sales Co., Ltd. was the wholesale broker for the Company. It ceasedoperations in 1998 and has closed its accounts entirely as of 26 September 2005.

S&P Franchising Co., Ltd. sold franchising rights for “S&P” restaurant and bakery outlets tolicensed franchisees. The subsidiary ceased operations since 1998 and closed its accounts entirely as of26 September 2005.

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Associated companies with ceased operations

S&P Catering Co., Ltd. was a joint venture with Golden Dragon Restaurant Co., Ltd. establishedfor the operation of outside catering services under the “S&P” name. All business activities have sincebeen transferred to the Company. The firm has removed its business registration and entirely closed itsaccounts.

Associated companies

HD Distributors (Thailand) Co., Ltd. is a joint investment company with General Mills InternationalHoldings LLC. It is the sole importer and distributor of “Haagen-Dazs” ice-cream in Thailand, throughits 20 outlets and leading supermarkets.

S&P Group Structure

S&P Syndicate PublicCo., Ltd.

▲ ▲ ▲ ▲

▲▲

▲▲

▲▲▲

80.00% 99.96% 99.93% 49.00%

96.00%

S&P Global Co., Ltd. Seriwat Food Co., Ltd.S&P Asset Co., Ltd.(Formerly S&P Minor

Foods Co., Ltd.)

HD Distributors(Thailand) Co., Ltd.

50.00%

50.00%

45.00%

62.00%

50.00%

55.00%

S&P Restaurants Limited(England) Patara (Geneva) SA

Theme Foods PTE(Singapore)

Siam Kitchen CausewayPoint PTE

(Singapore)

Patara Taiwan Co., Ltd.(Taiwan)

Patio International Co., Ltd.(Taiwan)

Patara Development SA(Switzerland)

Companies with ceased operations Equity stake

S&P Kitchen Co., Ltd. 99.99%Siam Kitchen SDN. BHD. (Malaysia) 50.00%

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S&P SYNDICATE PUBLIC COMPANY LIMITEDANNUAL REPORT 2005

Revenue Structure

Units : (Million Baht)

Revenue categorised Operated % Equity 2005 2004 2003% % %

by sales channel by stake Sales Sales Sales

Restaurant businessDomestic S&P – 1,364 40.6% 1,242 41.5% 1,087 42.6%Overseas S&P Global 80.00 631 18.8% 502 16.8% 397 15.6%

Bakery outlet business S&P – 845 25.1% 792 26.4% 666 26.1%Wholesale and other business S&P – 259 7.7% 230 7.7% 186 7.3%Home delivery and catering S&P – 262 7.8% 229 7.6% 214 8.4%

Total 3,361 100.0% 2,995 100.0% 2,550 100.0%

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In 2005, the major proportion of the revenue structure for the S&P Group was contributed by the restaurantand bakery business, amounting to 85 percent of total revenues. Of this proportion, the domestic restaurant andbakery business accounted for a 66 percent share, while the overseas restaurant business accounted for a 17 percentshare. The remaining 19 percent share was generated by the Company’s wholesale business activities and otherservices such as home delivery and outside catering.

Units : (Million Baht)

Revenue categorised by Operated % Equity 2005 2004 2003% % %

producy and service group by stake Sales Sales Sales

Food and beverages S&P – 1,600 47.6% 1,399 47.0% 1,167 46.0%Bakery products S&P – 1,474 43.9% 1,345 45.0% 1,154 45.0%Frozen prepared meals S&P – 115 3.4% 114 4.0% 105 4.0%Deli Products S&P – 51 1.5% 49 2.0% 41 2.0%Macaroni & food essences S&P – 34 1.0% 38 1.0% 36 1.0%Other Products S&P – 87 2.6% 50 2.0% 47 2.0%

Total 3,361 100.0% 2,995 100.0% 2,550 100.0%

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S&P SYNDICATE PUBLIC COMPANY LIMITEDANNUAL REPORT 2005

Products and services

Products

The Company’s products may be categorised into 5 major groups as follows.

1. Bakery products

The Company develops new cake designs on a regular basis to satisfy consumer demand, inparticular for special occasions and festive seasons. It has obtained licensing rights to Walt Disney cartooncharacters with which to decorate cakes, gaining a warm reception from customers. The Company alsosells the line of “Delio” cookies in sealed packaging, with a per-unit price that encourages consumersto try the product. This approach has enabled the products to reach a wider distribution network tocomplement the Company’s own outlet channels.

With a long-term goal of upgrading production processes, the Company relocated its frozenpound butter cake manufacturing line to the Bang Na-Trat factory. This plant is equipped with specialMondomix equipment and new ovens, under the investment project of 2004-2005. The new technologyensures cakes with a smoother and uniformly even texture. Cake quality and hygiene standards are nowmore consistent than ever.

Furthermore, the Company has invested in frozen pie production machinery, thereby ensuringconsistent quality with an output of up to 100,000 pieces per day. The plant features a loading deck,in line with GMP (Good Manufacturing Practice) standards, to better control product delivery quality.

2. Frozen foods

The Company’s frozen food offerings may be further segmented as follows :

2.1 Frozen prepared meals, or “Quick Meals” with a selection of one-meal dishes, entrees,desserts and vegetarian menus, all ideally suited for fast-paced urban lifestyles. Withconsumers finding limited time to prepare meals, the “Quick Meals” can be re-heatedin a microwave within a matter of minutes, to provide a satisfying hot option.

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2.2 Frozen food pouches, produced specifically as ingredients for restaurant use. The poucheshelp save on preparation time for customers, while more effectively controlling consistentrecipe quality, with the side-benefit of reduced costs.

2.3 Sauces, dipping sauces and curry pastes, which are used as ingredients by theCompany’s restaurants.

3. Processed deli products

The Company produces processed deli meat products for sale to the general public, as wellas for use as ingredients in its restaurants. The items in this group include :

3.1 Sausage and ham products, presented in vacuum sealed packs for retail. Varieties availablerange from frankfurters, to garlic and pepper, cheese sausages and assorted flavours.The products are sold in the Company’s own outlets, as well as through supermarketsand convenience stores.

3.2 Sausage, ham, seasoned pork and chicken products, for use as ingredients in thepreparation of the restaurants’ various dishes.

4. Pasta products and food additives

4.1 Dried pasta products, comprising spaghetti and macaroni sold under the “Royallee”brand, packaged for retail through most supermarkets.

4.2 Food additives, including yeast, food colourings and other substances for sale to breadand pastry producers at the industrial level. Other products in this line are custardpowder, pancake mix and various types of bakery flour under the “Royallee” brand. Theproducts are available at major supermarkets.

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4.3 The production line also accepts contract manufacturing for the production, kneadingand mixing of dough as well as the production of powdered sugar, packaged accordingto clients’ custom requirements.

In 2005, the Company implemented various quality management systems, including GMP,HACCP and ISO9001 for use in the manufacturing processes of the 4 aforementioned product categories.It is also received quality standards certification from official State agencies, such as the Thai Food andDrug Administration, the Ministry of Public Health and the Department of Agriculture and Fisheries, theMinistry of Agriculture and Cooperatives. In addition, the Company was recognised by respected privatesector quality certification firms such as Tuvnord (Thailand) Co., Ltd.

5. Other products

5.1 The Company also contracted other manufacturers to produce various food items, suchas prawn-fish crackers, roasted nut snacks, crispy cuttlefish, Thai desserts, birds’ nestbeverages and essence of chicken health beverages, for marketing under the S&P brand.The products are sold through the Company’s outlets. The Company selects qualitycontract manufacturers according to stringent, predetermined standards.

5.2 Salad dressings, soups and various sauces are produced under the “Patio” brand, forsale through the restaurant network, as well as leading supermarkets.

5.3 Several products have been created under the “Vanilla” brand, for retail in theCompany’s outlets. These include bakery products, bakery utensils and stylish souvenirs,such as T-shirts, aprons, clocks and others.

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Services

The Company’s services may be categorised according to 3 major groups as follows.

1. Domestic restaurants and bakery shops, which offer services under the following brands

1.1 S&P Restaurants - offer full service with an extensive menu, as well as cakes, desserts,ice-creams and beverages. The restaurants’ customer profiles are diverse and range fromfamilies, to students, career workers and other client groups.

1.2 S&P Bakery Shops - are bakery corners selling the range of “S&P” bakery products. Theoutlets are located in leading department stores, superstores, discount stores, hospitals,office buildings, petrol stations and other high customer traffic locations.

1.3 Blue Cup - coffee counters offering premium quality coffee beverages. There are currentlyBlue Cup services available in 129 S&P Restaurants, as well as the first flagship “BlueCup ebb and flo” outlet in Siam Centre, appealing to customers who appreciate qualitytea and coffee selections.

1.4 Patara - restaurants catering to an up-scale target customer group and foreign diners,with Thai cuisine and a contemporary presentation. The menu offers creative recipesamidst an ambience of quiet sophistication.

1.5 Patio - serves international dishes in a casually trendy setting. The menu reflects anindividual touch and is presented with flair. Patio also offers home-made products suchas salad dressings, soups, pasta and ready-made sauces.

1.6 Vanilla - a new breed of restaurant and bakery, selling Western dishes and desserts. Therestaurant interiors are a fresh interpretation of European sensibilities, striking a chordwith a fashionable, young crowd. Vanilla also offers cooking classes for budding chefs.The Vanilla brand is represented by the Vanilla Industry, Vanilla Restaurant and VanillaBrasserie names.

1.7 Golden Dragon - a contemporary Chinese restaurant with authentic tastes. The restaurantis renowned for its dim sum delicacies.

1.8 Grand Seaside - a seafood restaurant located in Laem Farn, Sri Racha District. The menufeatures the freshest seafood in a relaxed beachside setting. The restaurant also catersfor large parties.

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S&P SYNDICATE PUBLIC COMPANY LIMITEDANNUAL REPORT 2005

Number of restaurants and bakery outlets nationwide as of 31 December 2005

Outlets in Bangkok Provincial outlets Total

S&P restaurants 50 26 76

S&P bakery shops 85 63 148

Patara restaurants 1 – 1

Patio restaurants 3 – 3

Vanilla restaurants 2 – 2

Golden Dragon restaurant 1 – 1

Bluecup coffee corners 1 – 1

Grand Seaside restaurant 1 – 1

Total 144 89 233

2. Overseas restaurants

S&P Global Co., Ltd. is the operator of S&P’s restaurant businesses abroad. There are currentlya total of 18 branches overseas, under the following brandnames.

2.1 Patara Fine Thai Cuisine - is a Thai restaurant that focuses on the upper-end of themarket with an emphasis on exquisite presentation, authentic tastes, refined service anda sleek ambiance. Patara maintains the diversity of genuine Thai recipes, even thoughthe majority of its clients are foreign diners. In 2005, the London branches of Patarawere honoured with the proud distinction of the PM Award 2005 (The Prime Minister’sExport Award 2005) for Best Service Provider. The restaurants have also been voted byleading magazines as the best Thai restaurants in London.

2.2 Siam Kitchen - a casual Thai restaurant concept for the Singapore market. The menuconcentrates on single-dish items for quick and convenient dining. The outlets areusually located in suburban shopping malls, to better reach target customers. The decoris modern, with Thai accents provided through the materials used. The Siam Kitchenformula has expanded rapidly and gained strong acceptance. The restaurants have alsoreceived the Halal certification, which has earned the trust of the large Muslim populationin Singapore.

2.3 THAI - a contemporary Thai restaurant in Geneva, Switzerland. The menu reflects aharmonious blend of Thai and Western influences. The interior design speaks of amodern design with a distinctive Thai motif through a careful selection of materials.

2.4 Patio - an international restaurant in a stylishly relaxed setting. The menu deftly mixescontemporary culinary trends with updated, well-loved Thai favourites. The restaurantinteriors are contemporary, with Thai design references to impart an Oriental warmth.

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Number of overseas restaurants of 31 December 2005

England Switzerland Singapore Taiwan Total

Patara restaurants 4 1 2 1 8

Patio restaurants 2 2

Siam Kitchen restaurants 7 7

THAI restaurants 1 1

Total 4 2 9 3 18

3. Home delivery services and outside catering

3.1 The Company provides home delivery services to customers dialing the “1344” hotline(for Bangkok and outlying areas) to order S&P food and bakery items. The Company alsooffers “tiffin meals”, featuring a rotating menu of dishes delivered daily to customers’homes. This has proved extremely popular with households and currently serves over1,000 families daily. In 2006, the Company plans to expand its delivery coverage, tomeet growing consumer demand.

3.2 The Company offers a comprehensive range of outside catering services, ideal forweddings, birthday celebrations and seminars. Boxed meals are also available, suitablefor travel groups, tours or religious ceremonies. The catering service includes professionalservice staff and the handling of all arrangements, from table presentations, to floraldecorations and all the utensils necessary for ensuring a smooth function. S&P’s cateringservice is the preferred choice for clients such as Government agencies, State Enterprises,private sector corporations and Embassies.

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Marketing

The marketing policy which the Company has adopted as its philosophy for business is thecreation of total customer satisfaction. The goal is to make customers associate the S&P reputation withquality food and bakery products, as well as service from the heart, in line with its motto “Super Service& Premium Products”. The Company’s 4 key strategies are summarised as follows.

1. Products and packaging

The Company constantly develops new food and bakery products, to meet the needs anddynamically changing lifestyles of consumers. Examples of new star products unveiled in 2005 includedBlack Forest Creme Roll; Premium Cookies (in cheese, butter jam ring, almond, chocolate chip andalmond ball flavours); classic sausages (in cocktail, hotdog and Vienna versions); bacon product selections;“Tasty Meal” frozen prepared meals; and the line of “Jelio” ready-to-eat jellies.

The Company also debuted products under brands other than the “S&P” trademark, includingPatio, Vanilla and Delio as a means of expanding its market base to reach new customer profiles.

The Company is also committed to the ongoing development of product packaging, creatingmodern and attractive designs, allowing customers to enjoy choosing the products as gifts suitable forany occasion. This truly underlines the meaning of “Pleasure for the giver, delight for the receiver”.Outstanding packaging designs of 2005 that proved particularly popular with consumers were for theline of “Cookie Kids”, Chinese mooncakes and Disney cartoon characters packaging.

2. Pricing

The Company’s policy for determining product pricing takes into account the followingconsiderations :

– the cost of the main ingredients and the cost of production– competitors’ product pricing, or prevailing market price ranges– the gross profit margin required from a particular product category

3. Placing

The Company utilises 5 primary distribution channels as follows.

3.1 Domestic restaurants and bakery shops - at present, there are 85 outlets nationwide underthe S&P group umbrella (including the Patara, Vanilla, Bluecup and Golden Dragonrestaurants), as well as a total of 148 bakery shops.

3.2 Overseas restaurants - there are currently a total of 18 branches abroad, under the Patara,Siam Kitchen, THAI and Patio brands.

3.3 Home delivery and outside catering - home delivery services are available through the new1344 telephone hotline, as well as catering services, anywhere within Bangkok and adjacentareas.

3.4 Supermarkets, convenience stores and retail shops - the Company distributes its line ofDelio cookies, frozen foods, mooncakes and other products under the S&P brand throughleading supermarkets and convenience stores across the country. This allows it to reach outto various consumer groups effectively and helps promote increased awareness for itsproducts.

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3.5 Export - the Company has expanded the market for its frozen meals and mooncakes tointernational markets, such as the United States, Australia and Europe, through localdistributors in these regions. The Company has also set targets in recognition of the growingimportance of foreign markets, by improving and expanding production lines to internationalstandards.

4. Advertising, public relations and marketing promotion

In 2005, the Company’s advertising, public relations and marketing promotion plans focused oncreating satisfaction for consumers and underscored its industry leadership in terms of products andservices.

Advertising the Company presented the “Happy Cake” campaign through various media suchas Mupi. Ad and TVC, as well as consistent advertising for the delivery service, emphasising the wideselections for customers to choose from.

Public relations and customer relations the Company’s policy aimed to build brand loyaltyby organising regular activities for children and S&P card members. These included cake decorationclasses for Primary 3 level children, taken to over 30 schools throughout Bangkok, which apart frombeing a fun activity, encouraged youthful creativity. Meanwhile, the “Cooking is Fun” Day Camp allowedyoung “S&P Jak-ka-Jee Club” members and their parents to enjoy sharing time and activities together.In 2005, the Company participated in various trade exhibitions to promote its image to a wider audiencein Bangkok and the provinces, such as the “Coffee and Bakery Fair 2005” in Nakhon Ratchasrima. TheCompany’s cake entry at this event was recorded by “Ripley’s Believe It Or Not!” as Thailand’s largestcoffee cake.

In addition, the cake and packaging collection for the New Year festive season were debutedas a fashion show-style event entitled “Happiness Is a Piece of Cake”. The Company also presented cakesto a total of 42 charitable organisations in accordance with customers’ wishes under the “S&P 2005Wishes ... Cake A Wish, Make A Wish” project. The activity was part of the Company’s desire to givein return to society, while simultaneously enhancing its corporate image.

Marketing promotion the Company continued with its highly successful marketing promotionstrategy of a 20% discount for bakery products on Wednesdays, as well as the Buy 4, Get 1 Freecampaign for the New Year season. To mark the Chinese Mooncake Festival, a key campaign waslaunched : the “S&P Happy Season” with gold sweepstake prizes valued at 180 Baht in weight, whichproved highly popular with customers.

Procurement process for the Company and its subsidiaries

The Company adheres to a strict policy of selecting ingredients that are hygienic and safe forconsumers. The process begins with the procurement of raw materials, which the Central ProcurementDepartment sources and monitors ingredients’ quality, prior to distribution to the various outlets. Theexception to this rule is for certain fresh ingredients, which suppliers deliver direct to the outlets, in orderto ensure optimal freshness. In addition, the Central Procurement Department is responsible for planningthe sourcing of ingredients in advance, with the use of the E-Auction method for certain raw materials.It also works closely with suppliers to develop the quality of ingredients.

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Bakery products

At present, the Company has 2 production facilities in Bangkok for cakes, bakery items, breadsand mooncakes. The first is located in Sukhumvit Soi 62 and the second on Bangna-Trad Road. Thereis also a factory in Chiangmai, Thailand’s second largest city in the North. All 3 plants have a combinedproduction capacity of approximately 8,440 tons per year, with an actual production utilisation rate ofaround 73 percent of total capacity. The major raw materials - flour, sugar, milk, butter and eggs - arereadily available from local sources, with no risk of shortage. The Company purchases the raw materialsfrom general suppliers. In response to the previous outbreaks of bird flu in Thailand, the Company nowhas a policy to source fresh chicken eggs only from farms certified by the Department of Livestock.Inspection visits are also carried out to these farms, to ascertain whether hygiene standards are beingmet. With regard to fresh pork ingredients, the Company buys only from sources that do not use growthenhancing substances and that have been certified by the Department of Livestock, in the highestinterests of consumer safety.

Frozen food products, processed deli products and other ingredients

The Company has a production facility for frozen foods, sausage products and pasta located inthe Lardkrabang Industrial Estate. Floor space has been set aside as the Central Kitchen facilities, whichprepare pre-cooked items for use in all the restaurants. This factory has a total production capacity ofapproximately 10,350 tons per year, with an actual production utilisation rate of 42.97 percent. Theprincipal raw materials used are pork, beef, flour and sugar. All these are readily sourced from localsuppliers, with no threat of shortages envisioned. An exception is sheep intestines, which is an ingredientused to produce sausages. This is one ingredient that must be imported; however, there are no potentialshortages associated with this raw material, either.

Industry situation and competition

1. Restaurant and bakery business

The changing face of Thai society has resulted in a trend towards dining out more frequently,which has boosted the growth of the restaurant business at a healthy pace. However, fierce competitionis an ever-present refrain, since new operators are constantly entering the market. The Company mustbe able to adapt its strategies, in order to maintain its market share and be prepared for expansionopportunities at all times. It also anticipates new consumer trends, such as the rise in health consciousnessand concern for nutritional value, by revising its menus to reflect these changing attitudes.

Meanwhile, the bakery business also faces heated competition, both from local and foreignproducers. However, the overall value of the market remains attractive. The Company therefore focuseson the importance of hygiene and taste in line with S&P’s recognised standards, together with thedevelopment of packaging that is aesthetically pleasing, retains product freshness and offers convenience.This helps create added value for the bakery products, while creating satisfaction for customers.

2. Frozen foods business

The trend for the consumption of frozen prepared meals is on the rise, driven by the fast-pacedlifestyles of urbanites. Demand has also been fuelled by improved taste, convenience, safety and a wider

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selection of items. Other supporting factors are the increasing number of households with refrigeratorsand microwaves, which are now widely viewed as essential items for the home. This has made re-heatingof frozen meals even easier than before.

These variables have all cooperated to push the steady growth of the frozen foods business. Inaddition to expanding the local market base, the Company has also tapped the potential for exportingfrozen meals to foreign markets. In 2005, the Company increased the production capacity of the frozenprepared meals line and conducted studies into foreign consumers’ menu preferences. Significantinvestments were made in product development, to win the acceptance of consumers abroad for theCompany’s frozen meals, mirroring its previous success in the domestic market.

Research and development

The Company has consistently pursued a pro-active approach to product development, in responseto consumer needs and to keep abreast with intense competition within the market. Consequently,research and development efforts are awarded a high priority. The Company has a team of specialistsin the fields of food science, nutrition and domestic sciences. These valued human resources enable theCompany to develop new products that are not only tasty, but are also nutritious, hygienic and safe.

In 2005, the Company introduced many new products to the market, including frozen preparedmeals under the “Quick Meal” and “Tasty Meal” brands; ready-to-eat jellies and puddings under the“Jelio” name; new flavours of baked goods; and cakes decorated with popular cartoon characters underlicense from Disney. There were also soups, salad dressings and ready-made sauces under the “Patio”banner, as well as bakery products, bakery utensils and trendy souvenirs under the “Vanilla” name.

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FUTURE PROJECTS

Outlet expansion

As the Company’s primary source of income is generated by its restaurants and bakery shopoutlets, the expansion of new branches in suitable locations constitutes an important priority. TheCompany’s plans are to open restaurants and bakeries in sites with a high concentration of targetcustomer traffic, such as leading shopping centres, discount stores, hospitals, office buildings and petrolstations. It aims for its outlet network to comprehensively cover Bangkok and major provinces. For its2006 plans, the Company expects to open 10 new restaurants and 25 bakery shops. Existing outlets willalso be renovated to project a more contemporary image, as appropriate for the target customers in eachlocation. In international markets, the policy is to open additional branches, both in markets where italready has an established presence, as well as new markets with promising potential.

Factory expansion

Bakery production factory

A new facility for the production of sweet and savoury bakery fillings has been established atthe Bangna-Trad factory. The modern building has an area of 1,300 square metres and was constructedin accordance with the principles of GMP (Good Manufacturing Practice). It will also be able to meet thefuture requirements of HACCP (Hazard Analysis Critical Control Point). The facility can produce up to1,600 tons of sweet and savoury fillings annually for the frozen pie production line.

Furthermore, in order to enhance product quality, the Company supports the following qualitysystems :

1. Expansion of the laboratory’s scope and analysis works (ISO / IEC 17025)

2. Adoption of the BRC (British Retail Consortium) quality system for the food retail business,as part of plans to distribute the Company’s products in the United Kingdom

3. Observance of the ISO 22000 Requirements for a Food Safety Management System

Food production factory

In 2005, the Company invested in the construction of a new food production building, with agoal to increase the production capability of the frozen foods line primarily for export. The new facilityhas a usable floor area of approximately 6,000 square metres. Production will commence in March 2006.

For 2006, the Company’s policy is to support and develop the export market. The ProductionDepartment has therefore implemented ongoing quality management systems and safety projects. Thefocus is on food safety and quality for customers and consumers, together with safety and quality forthe environment. Particular attention will also be paid to hygiene within the factory’s laboratory facility,to meet international standards, including ISO 22000, ISO 14001 and OHSAS 18001.

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RISK FACTORS

1. Risk associated with Government policies

In the past year, the Government signed agreements to liberalise trade with several nations. Theunprecedented opening of trade frontiers will inevitably impact domestic producers of frozen foods andsnack products to a considerable degree. This is because new imports will enter the market at lowerprices. Nonetheless, in order to maintain its market share, the Company is seeking to lower its productioncosts; develop the quality of its products on an ongoing basis; innovate new products and services; andunderline the importance of attractive, convenient and functional packaging. This will allow it to addressthe needs of each customer group more effectively.

2. Risk associated with production costs

The cost of various goods increased considerably in 2005, due in part to soaring global oil prices.As a result, the prices of many of the Company’s raw materials increased in suit. In order to protectagainst production cost risk, the Company sources raw materials from several suppliers, in order toensure a sufficient supply of ingredients for planned production, as well as to optimise productionmanagement efficiency. Consequently, the Company has been able to maintain satisfactory levels ofprofitability.

3. Risk associated with foreign currency exchange fluctuations

The Company’s overseas Thai restaurant businesses and frozen foods exports contribute a shareof 19 percent of total revenues. This income is denominated in major foreign currencies. The Companyprotects against fluctuations in currency exchange by utilising a natural hedge approach, as well as futurecontracts for the purchase of foreign currencies.

4. Risk associated with rental contract extensions with site owners

The Company’s policy is to rent locations for its restaurants and bakery shop outlets, focusingon high-traffic sites. The Company’s solid reputation amongst consumers for over 30 years and thewidespread acceptance for its products, translates into a willingness of site owners to rent their premisesfor the Company’s branches. The owners often favour the Company with attractive rental conditions.Thus, only a limited probability exists that the rental contracts will not be extended, or that the ownersof the property will change the conditions of the rental contract significantly.

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SHAREHOLDERS’ STRUCTURE

Corporate securities

(a) Ordinary shares

As of 9 January 2006, the Company had registered capital totaling 525 million Baht, comprising105 million ordinary shares with a par value of 5 Baht per share. The issued and paid-up capital was434,769,000 Baht, comprising 86,953,800 ordinary shares carrying a par value of 5 Baht per share.

(b) Obligations to future share issues

The Shareholders’ Meeting No. 1/2544 held on 20 September 2001 passed a resolution forthe issue of 10 million new ordinary shares with a par value of 5 Baht per share, to be offered to thegeneral public, which was duly completed. The Meeting further resolved to issue warrants to existingshareholders whose names appeared in the share registrar as of 10 October 2001, totaling 30 millionwarrants. Members of the general public who had purchased the said new share issue were also offered5 million warrant units. Each warrant entitled the holder to 1 ordinary share with a par value of 5 Bahtper share, upon exercise of the warrant at a price of 18 Baht per share.

The Company therefore has obligations for the issue of ordinary share reserves as follows.

Reserve for exercise of warrants offered to existing shareholders 30,000,000 shares

Reserve for exercise of warrants offered to the general public 5,000,000 shares

Total ordinary shares reserve 35,000,000 shares

Shares allocated for exercise of warrants until 9 January 2006 16,953,800 shares

Outstanding ordinary shares reserve 18,046,200 shares

10 major shareholders

The 10 major shareholders whose names appeared in the share registrar as of 9 January 2006are shown as follows.

Shareholder Group No. of shares Percent

1 The Sila-On and Raiva families group 38,600,200 44.39

2 Securities Depository (Thailand) Co., Ltd. for depositors 31,225,624 35.91

3 Thailand Securities Depository Company Limited for Depositors 9,408,940 10.82

4 Mrs. Supapan Pichaironarongsongkram 2,469,000 2.84

5 Krungthep Insurance Public Co., Ltd. 606,600 0.07

6 Mrs. Chulamanee Chakrabandhu Na Ayuthaya 500,000 0.58

7 Mrs. Petchjan Tiranasawasdi 250,658 0.29

8 Tripharada Co., Ltd. 216,446 0.25

9 Mr. Piriya Wachjitphan 200,000 0.23

10 M.R. Duenden Kittiyakorn 160,000 0.18

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129

Dividend payment policy

The Company has an annual dividend payment policy equivalent to approximately 60 percentof net profit after tax, dependent primarily on the economic situation and corporate operating performance.The dividend payment policy of the Company’s subsidiaries likewise takes into consideration the economicoutlook and business operating performance.

Page 119: S&P : Annual Report 2005

130

S&P SYNDICATE PUBLIC COMPANY LIMITEDANNUAL REPORT 2005

MANAGEMENT STRUCTUREAND CORPORATE GOVERNANCE

Directorial Structure

There are 3 Directorial committees, comprising namely the Board of Directors, the Autdit Committeeand the Executive Board, with further details presented as follows.

The Board of Directors

As of 23 January 2006, the Company had a total of 11 serving Directors :

1. Mrs. Patara Sila-On Chairman of the Board of Directors

2. Lt. Varakorn Raiva Vice Chairman of the Board of Directors

3. Mr. Pravesvudhi Raiva President

4. Mr. Kachorndej Raiva Director

5. Mrs. Pantipa Raiva Director

6. Mr. Pote Videtyontrakich Director

7. Miss Cattleya Saengsastra Director

8. Mr. Prame Chotivanich Director

9. Miss Sophavadee Uttamobol Director

10. Mr. Dusit Nontanakorn Director

11. Mrs. Kessuda Raiva Director and Company Secretary

Audit Committee

The Board of Directors established the Audit Committee as per the resolution of the Meetingof the Board of Directors No. 2/2547 convened on 17 May 2004. The Audit Committee comprisers thefollowing members :

1. Miss Cattleya Saengsastra Chairman of the Audit Committee

2. Mr. Prame Chotivanich Audit Director

3. Miss Sophavadee Uttamobol Audit Director

Executive Committee

The Board of Directors passed a resolution to establish the Executive Committee in accordancewith the Meeting of the Board of Directors No. 5/2544 held on 20 September 2001. The ExecutiveCommittee has 6 members :

1. Lt. Varakorn Raiva Chairman of the Executive Committee

2. Mrs. Patara Sila-On Executive Committee Director

3. Mr. Kachorndej Raiva Executive Committee Director

4. Mr. Pravesvudhi Raiva Executive Committee Director

5. Mrs. Pantipa Raiva Executive Committee Director

6. Mrs. Kessuda Raiva Executive Committee Director

Page 120: S&P : Annual Report 2005

131

Management Team

1. Lt. Varakorn Raiva Chairman of the Executive Board

2. Mr. Pravesvudhi Raiva PresidentVice President for Operations

3. Mrs. Patara Sila-On Executive Director

4. Mr. Kachorndej Raiva Executive Director

5. Mrs. Pantipa Raiva Executive Director

6. Mrs. Kessuda Raiva Executive DirectorActing Vice President for Accounting and Finance

7. Ms. Yupadee Damri-anant Consultant - Catering & Service

8. Mr. Suvit Panyavie Vice President for Bakery Operations

9. Mrs. Phailin Nimityongsakul Vice President for Food ProductionVice President for Research and development

10. Mr. Surat Senviboon Vice President for Marketing and Sales

11. Mrs. Kamolnuch Chaisittikul Vice President Human Resources

Page 121: S&P : Annual Report 2005

132

S&P SYNDICATE PUBLIC COMPANY LIMITEDANNUAL REPORT 2005

(Deta

ils o

f all

Directo

rs a

nd E

xecutives a

re s

how

n in t

he A

ppendix)

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Page 122: S&P : Annual Report 2005

133

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Page 123: S&P : Annual Report 2005

134

S&P SYNDICATE PUBLIC COMPANY LIMITEDANNUAL REPORT 2005

Equi

tyFa

mily

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Page 124: S&P : Annual Report 2005

135

Equi

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136

S&P SYNDICATE PUBLIC COMPANY LIMITEDANNUAL REPORT 2005

Equi

tyFa

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Page 126: S&P : Annual Report 2005

137

Organization Structure

Board of Directors

▼▼▼ ▼ ▼

▼▼▼ ▼ ▼

Executive Board

President(Mr. Pravesvudhi Raiva) Management Team

Human ResourcesManagement and

Development(Mrs. Kamolnuch

Chaisittikul)

Accounting andFinance

(Mrs. Kessuda Raiva)

Marketing and Sales(Mr. Surat Senvibon)

Research andDevelopment(Mrs. Phailin

Nimityongsakul)

Operations(Mr. Pravesvudhi Raiva)

Food Operations(Mrs. Phailin

Nimityongsakul)

Bakery Operations(Mr. Suvit Panyavie)

Board of Directorsoffices(Mrs. Kessiri Kukeatnun)

Information TechnologyCenter

(M.L. LuesakChakrabandhu)

Purchasing and Service(Mrs. Ladawan

Pipatsuriya)

Page 127: S&P : Annual Report 2005

138

S&P SYNDICATE PUBLIC COMPANY LIMITEDANNUAL REPORT 2005

The Board of Directors’ scope of authority

The Board of Directors is invested with the authority to manage the Company in accordance withLaws, the corporate objectives and regulations, as well as the resolutions of Shareholder Meetings. TheBoard is responsible for policy formulation and determination of business direction, financial management,risk management and to oversee that management carries out policy directives with efficiency andeffectiveness. The Board further has the authority to appoint management committee(s) for the purposeof performing one or more objectives.

The Executive Board’s scope of authority and duties

1. The Executive Board is designated with the authority to operate in accordance with the Boardof Directors’ policies, which in turn defer to Laws, the conditions, rules and regulations ofthe Company, with the exception of issues which the Law specifies as requiring the authorisationof Shareholder Meetings.

2. The Executive Board has the right to formulate, propose and determine business directivepolicies and strategies to the Board of Directors.

3. The Board may prepare business plans; specify management powers; authorise budgets forthe annual business activities, including annual expenditure budgets; and generally conductactivities in line with the business plans and strategies to complement the policies anddirectives presented to the Board of Directors.

4. Approval of transactions which may result in obligations to the Company require theauthorisation of the Executive Board, together with the signatures of authorised Directorsignatories as stated in the Company Articles.

5. Conduct business relating to the general management of the Company, with the exceptionof related transactions and the acquisition/divestiture of significant public listed companyassets, which are to be conducted in accordance with the regulations of the Stock Exchangeof Thailand.

6. The Executive Board may be assigned other duties on an individual basis by the Board ofDirectors.

The provision of the aforementioned authorities to the Executive Board precludes any ExecutiveBoard members, including other parties who may have a potential benefit or conflict of interest in theCompany and its subsidiaries, from exercising their voting rights in such issues. Moreover, the ExecutiveBoard Meetings do not allow the President to conduct related transactions, but limit’s the scope ofauthority to normal business activities.

The Audit Committee’s scope of authority and duties

1. The Audit Committee has the duty to review that the Company’s financial reportage isaccurate and discloses sufficient information, by coordinating the viewpoints of the corporateauditors, the Board of Directors and the Internal Audit Office into a unified direction.

2. The selection and proposal of appointment of the Company’s auditors, including the annualaudit fees for authorisation by the Shareholders’ Meeting.

3. Determine the level of significant risk and measures for reducing such risk, from management,the Internal Audit Office and auditors.

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4. Conduct a joint review in association with the auditors and Internal Audit Office as to thesufficiency of internal controls systems.

5. Oversee that the Company’s operations comply with predetermined policies, or Laws relatingto securities and the Stock Exchange, announcements of the Stock Exchange or regulationsof other governing bodies.

6. Review the financial statements and notes to the financial statements together with themanagement team, the auditors and the Internal Audit Office prior to submission to therelevant governing body.

7. The preparation of a report acknowledging the responsibility and operations of the AuditCommittee, presented to the Board of Directors and included in the Company’s AnnualReport.

8. Additional duties to those mentioned may be assigned in accordance with the corporateregulations, Law, or instructions of the Board of Directors.

Nomination of Directors and Executives

The nomination of candidates for the positions of Directors in the Company is not processed bya Nomination Committee, since the Company has not yet established such a committee. Nonetheless,the Board of Directors selects candidates with the requisite qualifications, knowledge, skills and relevantexperience, for the benefit of the Company. The selection process takes into account the candidates’qualifications with respect to Measure 68 of the Public Companies Act of 1992 and announcements ofthe Securities Exchange Commission and the Stock Exchange of Thailand relating to the nomination ofCompany Directors. The appointment of candidates is conducted at the Shareholders’ Meetings asfollows.

– each shareholder has one vote per share held

– each shareholder must exercise all his votes to nominate either one or several Directorialcandidates, but may not divide his votes with other shareholders in any way

– candidates receiving the highest number of votes in successively descending order are appointedDirectors according to the number of Directors required or to be voted for. In the event thatany two candidates have a tie for votes received, but the nomination of both would exceedthe number of Directors to be appointed, the Chairman of the Meeting will cast the decisivevote.

Executives’ remuneration

Monetary remuneration

No. of 2004 No. of 2005Item Remuneration details

Directors (Million Baht) Directors (Million Baht)

Directors 11 13.25 11 15.10 Allowance and Meeting perdiemExecutives 15 19.53 17 22.46 Salary, bonus and

transportation allowance

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Other remuneration provided

- none -

The details of remuneration for each individual Director may be further categorised by meetingperdiem, in the form of monetary and other compensation as follows.

(Baht)1. Mrs. Patara Sila-On 190,000.-2. Lt. Varakorn Raiva 200,000.-3. Mr. Kachorndej Raiva 200,000.-4. Mr. Pravesvudhi Raiva 200,000.-5. Mr. Pote Videtyontrakich –

(Approved the appointments of the followingdirectors from 18 January 2006.)

6. Mrs. Cattleya Saengsastra 230,000.-7. Mr. Prame Chotivanich 220,000.-8. Miss. Sophavadee Uttamobol 220,000.-9. Mr. Dusit Nontanakorn 10,000.-

(Approved the appointments of the followingdirectors from 19 April 2005.)

10. Mrs. Pantipa Raiva 200,000.-11. Mrs. Kessuda Raiva 200,000.-12. Mrs. Supapan Pichaironarongsongkram 160,000.-

(Resignations of the following directors from 19 April 2005.)13. Mrs. Pornpilai Raiva 180,000.-

(Resignations of the following directors from 10 January 2006.)TOTAL 2,210,000.-

Corporate governance

The Board of Directors is mindful of its role, duties and responsibilities to the Company andshareholders. It complies with the guidelines of good governance for Directors of listed companies asoutlined by the Stock Exchange of Thailand, whether in terms of information disclosures to investors orthe request for authorization from the Board of Directors’ Meetings for various Company transactions.However, the Board of Directors has not fulfilled the requirements for a Nominating Committee and aRemuneration Committee. Nonetheless, an Audit Committee has been established to oversee the internalcontrols system and ensure compliance with the 15 guidelines for good corporate governance detailedas follows.

1. Corporate governance policies

The Board of Directors has formulated policies for good corporate governance, as it views thisas a matter of importance, essential to encouraging sustained expansion. The Board of Directors iscommitted and dedicated to this code of governance, illustrated by its determination of policies andcorporate direction that take into account control systems and internal audit activities. It oversees thatmanagement operates efficiently in line with these policy guidelines, for the long-term benefit ofshareholders, within the wider framework of Law and business ethics.

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2. Shareholder rights

In 2005, the Company called 1 Shareholders’ Meeting, being the 2005 Annual Ordinary Meetingof Shareholders, held at the Conference Room of its Bang Na Factory. The Company issued a summonsto all Shareholders to attend the Meeting, together with information according to an agenda, supplied7 days prior to the Meeting date. Each agenda was accompanied by the opinions of the Board ofDirectors, and comprehensive Minutes of the Meeting duly recorded for Shareholders’ subsequent reference.

3. Rights of persons with interests

The Company recognizes the importance of all groups with legitimate interests as follows.

– employees : are treated with equity and fairness and provided with appropriate remuneration– trading partners : the Company purchases products and services from its trading partners

in accordance with normal trading conditions and complies with contractual obligations madewith its partners

– creditors : the Company complies with the conditions of borrowings made in its loanagreements

– customers : the Company pays heed to its customers and is accountable to them. It producesproducts that are of high quality and standard and maintains the confidentiality of customers.It has a special unit and officers for the purpose of handling customer petitions for immediatefurther action

– competitors : the Company conducts itself according to the rules of fair competition andrefrains from methods that may be destructive to its competitors

– communities : the Company exercises responsibility towards the environment of its communitiesand society as a whole

The Company further complies with the relevant Laws and regulations, to ensure that the rightsof persons with interests in the Company are protected.

4. Shareholders’ Meetings

At the 2005 Shareholders’ Meeting, a total of 10 Directors were in attendance, including 3 AuditCommittee Directors. The Chairman of the Meeting allowed all shareholders equal opportunity to reviewthe Company’s operations, make inquiries, express opinions and propose suggestions. Significant questionsand recommendations were duly recorded in the Minutes of the Meeting.

5. Leadership and vision

– The Board of Directors participates in the formulation (or provides its approval) of the vision,mission, strategies, business plan goals and budget of the Company. It also oversees thatmanagement operates efficiently and effectively in accordance with the predetermined businessplan and budget, with a view to creating the highest economic value for the business, andthe greatest degree of stability for shareholders.

– The Board of Directors ensures that the Company has a system of internal controls, internalaudit activities and risk management measures. The Board of Directors monitors the progressof such activities on a regular basis through Audit Committee Meetings and Board of Directors’Meetings

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– The Board of Directors determines and provides a clear distinction between the roles, dutiesand responsibilities of the Board of Directors and the Executive Board, as per the detailscontained under the heading “Management Structure”

– The Board of Directors guides the Executive Board in realizing predetermined policies. In theevent of transactions that represent a conflict of interest and issues that require the approvalof shareholders, the Company defers to the relevant Announcements of the Securities ExchangeCommission and the Stock Exchange

6. Conflict of interest

In order to safeguard against conflicts of interest, the Board of Directors pays particular attentionto transactions which may pose such conflict. The Company Memorandum states that the Board ofDirectors must strictly abide by the Announcements of the Securities Exchange Commission and theStock Exchange. It further states that any changes in equity holdings must be reported at each Boardof Directors’ Meetings, as per the details contained under the heading “Insider information issues”

7. Business ethics

The Company encourages the Board of Directors, the Executive Board and employees to conductthe corporate business with honesty, integrity and equity, whether to the Company itself, all groups withinterests in the Company, the general public, society and customers. The Company maintains constantcommunication exchanges with its employees, monitors compliance with this code of ethics, and specifiespenalties for misconduct.

8. Balance of non-Executive Directors

The Board of Directors currently comprises 11 members as follows

– Directors who also serving as Executives 6 persons

– Other Directors 1 persons

– Independent Directors 4 persons, calculated as a proportion of morethan 1 in 3 of the entire Board.

Definition of “Independent Director”

Independent Director :

An individual with the requisite qualifications and with independence as determined by the StockExchange of Thailand as follows.

– holds no more than 5 percent of paid-up capital in the Company, subsidiaries, associated orrelated companies

– serves as a Director who does not participate in management roles, is not an employee, staffor consultant in receipt of a regular monthly salary from the Company, subsidiaries, associatedor related companies and has not been a major shareholder for a period of not less than 1year

– a Director who does not have an interest, whether direct or indirect, financial or management,in the Company, subsidiaries, associated or related companies

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– a Director who is not related, or is not a close relative, of any Executive or major shareholder

– a Director must not be appointed as a representative in order to protect the interests of otherDirectors, major shareholders or other shareholders associated with major shareholders

Furthermore, there must be freedom to express opinions or to report matters in accordance withtasks assigned, without the need to consider benefits derived from assets or positions. The Director mustbe free from the influence of any other individuals or situations which prevent the freedom of expression.

9. Merge or separation of positions

– The Chairman of the Board of Directors is the representative of the major shareholder group,which holds a 44.39 percent equity stake of total capital

– The Chairman of the Board of Directors is a different individual from the President, but bothare representatives of the same individual shareholder group. However, the composition ofthe Board of Directors comprises more than 1 in 3 Independent Directors, which facilitates asuitable balance and check of management

10. Remuneration of Directors and Executives

Directors’ remuneration is determined by the guidelines and policies of the Board of Directorsand is linked to the Company’s operating performance. Directors’ allowances are approved at eachShareholders’ Meeting.

11. Board of Directors’ Meetings

The Board of Directors is ordinarily scheduled to meet at least every quarter of the year, withadditional extraordinary meetings convened as required. The agenda is clearly determined in advance,and includes a regular agenda to monitor operating performance. The Company Secretariat prepares asummons to the Meeting, supplied together with the agenda and relevant documentation, to allowDirectors sufficient time to study the information prior to the Meeting. Each Meeting normally lastsapproximately 2 hours. In 2005, the Board of Directors convened a total of 4 meetings, with Minutesof the Meetings recorded in writing. Previous Minutes are certified by the Board of Directors andcompiled for the future reference of the Board and related persons.

The record of Directors’ attendance at the Board of Directors’ Meetings is summarized asfollows.

Attendance (times)1. Mrs. Patara Sila-On 3/42. Lt. Varakorn Raiva 4/43. Mr. Kachorndej Raiva 4/44. Mr. Pravesvudhi Raiva 4/45. Mr. Pote Videtyontrakich –

(commenced office as a Director on 18 January 2006.)6. Ms. Cattleya Saengsastra 4/47. Mr. Prame Chotivanich 3/48. Ms. Sophavadee Uttamobol 3/4

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9. Mr. Dusit Nonthanakorn 1/3(commenced office as a Director on 19 April 2006.)

10. Mrs. Pantipa Raiva 4/411. Mrs. Kessuda Raiva 4/412. Mrs. Supapan Pichaironarongsongkram 1/1

(vacated office as a Director on 19 April 2005.)13. Pornpilai Raiva 2/4

(vacated office as a Director on 10 January 2006.)

12. Sub-committees

The Board of Directors established various sub-committees to assist in the task of corporategovernance, as follows.

The Audit Committee was established on 17 May 2004, with Directors serving a term of 2 years.There are currently 3 Directors and 1 Secretary, wherein all the Directors are Independent, as per thedetails below.

1. Ms. Catleeya Saengsastra Chairman2. Mr. Prame Chotivanich Director3. Ms. Sophavadee Uttamobol Director4. Mrs. Kessiri Kukeatnun Secretary

The Audit Committee met regularly throughout 2005 a total of 4 times, and presented theirfindings to the Board of Directors.

The record of Audit Directors’ attendance at the Audit Committee’s Meetings is summarized asfollows.

Attendance (times)1. Ms. Cattleya Saengsastra 4/42. Mr. Prame Chotivanich 3/43. Ms. Sophavadee Uttamobol 4/4

13. Internal controls system and internal audit

The Company recognizes the importance of an efficient internal controls system, both at themanagement and the operational levels. Consequently, the duties and authorities of operational staff andmanagement alike are clearly defined in writing. The use of Company assets for optimal benefit ismonitored, and the duties of operating, supervising and evaluating personnel are separated. This encouragesa suitable balance of checks between them. Internal controls also exist for financial matters, wherein theCompany has implemented a system of financial reporting for each relevant management line.

The Company’s Internal Audit Department has a responsibility to ensure that the principaloperations and significant financial activities comply with the predetermined corporation direction efficiently.The Department also has the task to oversee compliance control with Laws and relevant regulations. Inorder to allow the Department freedom of inspection and balance checks, the Board of Directors hasdetermined that the Internal Audit Department report directly to the Audit Committee. The AuditCommittee is further responsible for the evaluation of its activities.

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14. Report of the Board of Directors

The Board of Directors is responsible for the consolidated financial statements of the Companyand its subsidiaries, including financial information presented in the Annual Report. These financialstatements are prepared in accordance with generally accepted accounting standards applicable in Thailand.Appropriate accounting policies have been adopted and adhered to on a consistent basis, while cautiousjudgement and the most precise estimates have been employed in the preparation of the statements.Adequate information disclosures are also provided in the Notes to the Financial Statements.

The Board of Directors preserves the maintenance of an efficient internal controls system, inorder to ensure with a reasonable degree of confidence that the recording of accounting transactionsis accurate, complete and sufficient to protect its properties. In addition, this serves to identify anyweaknesses, thereby preventing unethical or abnormal activities of a significant nature.

Consequently, the Board of Directors has appointed the Audit Committee - comprising Directorswho are not Executives of the Company - to oversee and be responsible for the quality of the financialreports and internal controls system. The opinions of the Audit Committee in this respect are containedin the Report of the Audit Committee, duly presented in the Annual Report.

The Board of Directors is of the opinion that the Company’s overall internal controls system issatisfactory and may engender a reasonable degree of confidence and credibility in the financial statementsof the Company and its subsidiaries for the year ended 31 December 2005.

15. Investor relations

The Board of Directors is fully aware that the Company’s information - both of a financial anda non-financial nature - have an impact on the decision making process of investors and parties with aninterest in the Company. It therefore emphasises with management the need for information disclosuresthat are complete, accurate, credible, consistent and timely. The Company’s management has alwaysrecognised this requirement and the importance of investor relations. Although it has not established adedicated corporate unit for this purpose, it has assigned the Vice President for Accounting and Financethe task of contact and communication with institutional investors, shareholders, analysts and relevantpublic sector agencies, since the volume of such activities is not considerable. Investors may contacttelephone number 0-2381-3412-29 for further details, or the Company’s website at www.sandp.co.th,or e-mail to [email protected]

Insider information issues

The Company has a policy that forbids Directors and Executives from using undisclosed informationrelating to financial status or performance, for personal gain. This includes the trading of securities,wherein only relevant personnel are informed of such activities until such information is disclosed to thegeneral public.

At present, the Company does not have any clearly specified methods for monitoring Executivesand the use of insider information for personal benefit. However, all management are informed of therequirement to report equity holdings in the Company relating to themselves, spouses and children whohave not reached legal maturity. The obligation extends to reporting changes in equity holdings to theSecurities Exchange Commission and the Stock Exchange of Thailand, in accordance with Measure 59and the penalty code as per Measure 275 of the Securities and Stock Exchange Act of 1992.

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Internal controls

The Company recognizes the importance of an effective internal controls system and internalaudit activities. It has therefore established a system of evaluation and review in order to ensure that itsoperations comply with Law, the corporate purpose, articles of association and resolutions of Shareholders’Meetings, in accordance with the guidelines of good corporate governance. The Meeting of the Boardof Directors No. 1/2549 convened on 28 February 2006 was attended by all independent Directors andAudit Committee Directors, to review the Company’s internal controls. Information was obtained frominterviews with management and from the inspection of documentation obtained by the Executive teamin relation to various corporate aspects, with findings summarized as follows.

1. The Audit Committee : has a responsibility to consider the sufficiency of the Company’sinternal controls system through the ongoing review of the Internal Audit Department’soperations. The Internal Audit line is obliged to actively participate and exchangerecommendations, together with the preparation of a regular internal audit report on at leasta quarterly basis. If the Audit Committee should present any recommendations or identifyany failings of a significant nature, the Committee will inform the Board of Directors forfurther action accordingly.

2. Risk management : the Company views risk management and reduction as a high priorityissue. A system of checks is therefore essential to providing early warning of variables thatmay affect business operations, efficiently and effectively. It is the task of management tooversee and control overall risk that could potentially arise in the course of the Company’sbusiness and operations.

3. Management operation controls : the Company has clearly defined the duties and authoritiesof management and operational staff in writing. There is also a clear distinction between theduties of operational staff and that of supervisors and evaluators, to encourage an optimalbalance and suitability. This also serves to protect against unethical conduct and preserve theproperties of the Company and its subsidiaries. Strict measures are in place to control operationsand activities of management - or related parties - for the greater benefit of the Company.

4. Information technology systems : the Company is committed to ongoing development ofinformation technology systems and data systems through investment in swifter, updatedcomputer systems that are sufficient and timely for management and the Board of Directors’decision making. Particular consideration is given to the compilation of accounting data anddocumentation, to ensure compliance with policies and accounting standards. This concernextends to information disclosures of significant Company information that are accurate andtransparent, in line with the principles of good corporate governance for public listed firms.

5. Monitoring systems : the Company monitors and evaluates corporate operating performanceby comparison with predetermined targets and past performance, regularly on a quarterlybasis; the results are presented together with the auditors’ report. In the event that operatingresults vary significantly with the targets, measures and corrective action are implementedimmediately

The Company’s auditor is Mr. Permsak Jerajakwattana, who audited the 2005 year financialstatements. He made no further recommendations or opinions in the auditor’s report that the Companyshould implement any amendments or improvements whatsoever.

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Personnel

The Company has not been engaged in any major labour disputes during the past 3 years.Details of the number of employees (excluding Directors and Executives as shown under the heading“Management Structure”) and employee remuneration, comprising salary, bonus, overtime and otherbenefits categorized by the major corporate units are presented as follows.

2004 2005

Corporate unit Remuneration RemunerationNo. of personnel No. of personnel

(Million Baht) (Million Baht)

Domestic Head Office 279 61.90 348 79.49Branch Operations 2,496 283.54 2,629 310.29Factory 924 134.33 1,087 137.04Overseas Branches 77 13.55 71 11.75

TOTAL 3,776 493.32 4,135 538.57

Personnel development policies

The Company’s personnel development policies are outlined as follows.

1. Focus on the development of employees’ knowledge and competency on an ongoing basis

2. Improve the performance evaluation process by emphasising job objectives

3. Monitor the remuneration structure to ensure competitiveness within the same industry

4. Emphasise the need for good management through mutual problem solving, to encourageteamwork

5. Specify career advancement paths for various positions, using clear and fair evaluation testsas a means of stimulating employee development

6. Promote a positive attitude to the Company and foster good working morale

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CONNECTED TRANSACTIONS

(1) RevenuesRelated parties Nature of transaction 2004 2005Seriwat Foods Co., Ltd. Rentor of premises and equipment 4.19 –

Revenue from services 0.36 –S&P Global Co., Ltd. Rentor of premises and equipment 0.18 0.18

Revenue from services 0.04 –S&P Asset Co., Ltd. Revenue from services – 0.23(Formerly S&P Minor Foods Co., Ltd.)HD Distributors (Thailand) Co., Ltd. Rentor of premises and equipment 1.10 0.79

Revenue from services 1.21 0.80(2) Purchase of goods and services

Related parties Nature of transactions 2004 2005Seriwat Foods Co., Ltd. Purchase of goods and services 58.29 3.63HD Distributors (Thailand) Co., Ltd. Purchase of goods and services 11.65 14.135S&P Asset Co., Ltd. Rentor of premises and services – 4.70(Formerly S&P Minor Foods Co., Ltd.)S.R. Estate Co., Ltd. Rental of premises 0.43 0.43The Company’s Directors Rental of offices and storage 2.52 2.40

Outstanding transactions

(1) Accounts receivableRelated parties Nature of transaction 2004 2005Seriwat Foods Co., Ltd. Purchase of goods, rental of premises

and production equipment – –HD Distributors (Thailand) Co., Ltd. Purchase of goods, rental of premises 0.23 0.14RBY Co., Ltd.* Rental of premises 1.20 1.20MGI Co., Ltd.* Purchase of goods 3.70 3.70

Note *The Company has allocated allowance for doubtful debt in the full amount

(2) BorrowingsProvided by the CompanyRelated parties Nature of transaction Brought Additional Repayment Carried

forward borrowing overUnion Sky S&P Ltd.* Short term borrowing 5.66 – – 5.66

Note *The Company has allocated allowance for doubtful debt in the full amount

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Provided by S&P Global Co., Ltd.Related parties Nature of transaction Brought Additional Repayment Carried

forward borrowing over

Intermezzo Restaurant Pte. Ltd. Short term borrowing 0.13 – 0.13 –PT Trinugraha Food Industry

Co., Ltd.* Short term borrowing 12.66 – – 12.66*Siam Kitchen SDN. BHD

(Malaysia) Short term borrowing 2.78 – 0.99 1.79Patara Development S.A. Short term borrowing 5.17 – 2.05 3.12

Note * The Company has allocated allowance for doubtful debt in full / borrowings, repayment made fromexchange rate gains

(3) Accounts payableRelated parties Nature of transaction 2004 2005S&P Asset Co., Ltd. Rentor of premises and services – 0.18(Formerly S&P Minor Foods Co., Ltd.)Seriwat Foods Co., Ltd. Purchase of goods 1.79 –HD Distributors (Thailand) Co., Ltd. Purchase of goods 2.44 3.92

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ANALYSIS OF OPERATING PERFORMANCEAND FINANCIAL STATUS

Operating performance

The Company and its subsidiaries recorded a net profit of 204 million Baht for 2005, an increaseof 11.1 percent from the previous year, due to the following key factors.

Revenues

Sales and service income rose from 2,995 million Baht in 2004, to 3,361 million Baht in 2005,equivalent to growth of 12.2 percent. Revenues from the domestic restaurants and sales of bakeryproducts increased 10 percent, while the overseas restaurant business grew by 26 percent. The growthin revenues was driven by the opening of new outlets, both locally and abroad.

Cost of goods sold and gross profit margin

Although the cost of goods sold in 2005 amounted to 1,933 million Baht - which was 11.2percent higher than the last year - the rate of this increase was lower than the rate of revenue growth.As a result, the Company was able to realise a gross profit margin of 42.5 percent of revenues. Thiscompares to 2004, in which the gross profit margin was only 42.0 percent of revenues.

Selling and administrative expenses

Selling and administrative expenses for 2005 totaled 1,186 million Baht, an increase of 13.4percent over last year. This was due primarily to the opening of new restaurants and bakery shop outlets,both in the domestic and international markets.

Net profit

The aforementioned rise in revenues, cost of goods sold, as well as selling and administrativeexpenses, allowed the Company to achieve earnings before interest and taxes (EBITA) for 2005 of 296million Baht. This may be calculated as a proportion of 8.8 percent of total revenues, which was 13.8percent higher than 2004. This provided the Company with a net profit of 204 million Baht, equivalentto 6.1 percent of total revenues, which was similar to the ratio in the previous year. The Companyreported earnings per share (EPS) for 2005 of 2.68 Baht, while the EPS value for 2004 was 2.53 Bahtper share.

Financial status

Assets

As of December 31, 2005 the Company had total assets of 2,085 million Baht, comprisingcurrent assets of 756 million Baht; property, plant and equipment, including leaseholds, of 1,189 millionBaht; long-term investments and other assets of 140 million Baht.

Assets value in 2005 increased from last year by 19 percent, as a consequence of an increasein fixed assets, which in turn reflected the opening of new outlets locally and overseas. The increase fordomestic outlets was 20 percent, while the increase for overseas outlets was 14 percent.

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Liabilities and Shareholders’ equity

Total liabilities

As of December 31, 2005 the Company recognised total liabilities of 512 million Baht, whichincreased by a value of 67 million Baht from last year. This was due mainly to trade accounts payablesand an increase in accrued expenses. Meanwhile, the debt to equity ratio was calculated at 0.3 times.

Shareholders’ equity

The value of Shareholders’ equity reached 1,573 million Baht, calculated as a book value of 18.0Baht per share. This compares to a value of Shareholders’ equity in 2004 of 1,304 million Baht, whichprovided a book value of 17.43 Baht per share. In 2005, Shareholders exercised their warrant rights inexchange for a total of 12.1 million ordinary shares of the Company. Consequently, the number of issuedand paid-up ordinary shares as of December 31, 2005 totaled 86.9 million shares.

Cash flows

In 2005, the Company recorded cash flows from operating activities and financing activitiestotaling 414 million Baht and 81 million Baht respectively. Cash flows used in investment activitiesamounted to 344 million Baht. The Balance Sheet as of December 31, 2005 showed cash flows and cashequivalents of 442 million Baht, which was 145 million Baht higher than 2004. Net cash remaining was297 million Baht, with significant details provided as follows.

– net cash flows from operating activities were 414 million Baht, generated by profits fromoperating activities of 400 million Baht; difference on accrued liabilities, which increased by49 million Baht; and a decrease in net cash flows caused by the increase in operating assetsby 34 million Baht. This comprised an increase in trade accounts receivables of 6 million Baht;an increase in inventory by 4 million Baht; and a rise in other assets by 24 million Baht.

– cash flows from financing activities were generated by Shareholders exercising their warrantrights in exchange for ordinary shares, valued at a total of 218 million Baht; cash from short-term borrowings of 14 million Baht; and cash used for the annual and interim dividendpayments, totaling 151 million Baht. As a result, the Company had net cash flows fromfinancing activities of 81 million Baht.

– cash used in investment activities totaled 344 million Baht. This was categorised as procurementof materials, machinery and equipment for the existing factory to the value of 78 million Baht;the construction of a new building at the food production plant totaling 37 million Baht;investments for the opening of new restaurants and bakery shops, including the renovationof existing outlets totaling 170 million Baht; purchases of equipment and office suppliesrecorded at 14 million Baht; and investments in securities and bonds, totaling 29 million Baht.

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REPORT OF THE AUDIT COMMITTEE

The Audit Committee comprises 3 members, with Ms. Cattleya Saengsastra serving as Chairmanof the Audit Committee; Mr. Prame Chotivanich and Ms. Sophavadee Uttamobol as Audit Directorsrespectively. Neither of these individuals are Executives or employees of the Company. The AuditCommittee’s scope of operations, duties and responsibilities are defined by the Audit Committee codeas authorised by the Meeting of the Board of Directors : this fulfils the requirements of the StockExchange of Thailand’s regulations. The Audit Committee reports to the Board of Directors.

During 2005, the Audit Committee convened a total of 4 meetings, for the purpose of overseeingthe Company’s business in line with its scope of responsibilities designated by the Board of Directors. Thisscope includes the review of the financial reports - both quarterly and annual; the overall internal controlssystem, in conjunction with the Internal Audit Department and relevant management, to determine thesystem’s suitability and make any required improvements for enhanced efficiency. Additional duties arethe review of risk management systems and potential factors which may have a significant effect oncorporate operations; ensuring compliance with relevant Laws; compliance with the good corporategovernance guidelines; consultation and exchange of opinions concerning audit findings and evaluationof quality in various areas, including the sufficiency of internal controls. Furthermore, as part of its duties,the Audit Committee proposed candidates for the corporate audit and auditing fees for the 2006 yearto the Board of Directors, for further submission to the Shareholders’ Meeting and subsequent considerationof appointment.

The Audit Committee conducted its duties with independence from the Board of Directors andmanagement, and has duly reported the outcome of its meetings and operations for the information ofthe Board of Directors already.

Signed, Ms. Cattleya SaengsastraChairman of the Audit Committee

28 February 2006

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REPORT OF THE INDEPENDENT CERTIFIEDPUBLIC ACCOUNTANTS

TO THE SHAREHOLDERS AND THE BOARD OF DIRECTORSS&P SYNDICATE PUBLIC COMPANY LIMITED

We have audited the consolidated balance sheets of S&P Syndicate Public Company Limited andits subsidiaries and the balance sheets of S&P Syndicate Public Company Limited as at December 31,2005 and 2004, and the related consolidated and the Company’s statements of income, changes inshareholders’ equity and cash flows for the years then ended. These financial statements are theresponsibility of the Company’s management as to their correctness and completeness of the presentation.Our responsibility is to express an opinion on these financial statements based on our audits.

We conducted our audits in accordance with generally accepted auditing standards. Thosestandards require that we plan and perform the audit to obtain reasonable assurance as to whether thefinancial 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 includesassessing the accounting principles used and significant estimates made by management, as well asevaluating the overall financial statement presentation. We believe that our audits provide a reasonablebasis for our opinion.

In our opinion, the aforementioned consolidated and the Company’s financial statements presentfairly, in all material respects, the financial position of S&P Syndicate Public Company Limited and itssubsidiaries and of S&P Syndicate Public Company Limited as at December 31, 2005 and 2004, and theresults of its operations and its cash flows for the years then ended, in conformity with generallyaccepted accounting principles.

Permsak JerajakwattanaCertified Public Accountant (Thailand)

BANGKOK Registration No. 3427February 17, 2006 DELOITTE TOUCHE TOHMATSU JAIYOS

Page 143: S&P : Annual Report 2005

155

S&P SYNDICATE PUBLIC COMPANY LIMITED AND SUBSIDIARIESBALANCE SHEETS

AS AT DECEMBER 31, 2005 AND 2004

BAHTConsolidated The Company Only

2005 2004 2005 2004

ASSETSCURRENT ASSETS

Cash and cash equivalents (Note 4) 442,198,664 297,549,825 340,814,454 189,555,854Short-term investments (Note 5) 32,876,762 3,793,784 23,900,000 –Trade accounts receivable - net

(Notes 6 and 15) 100,590,239 94,396,854 91,760,175 88,388,005Short-term loans to related parties - net

(Note 15) 7,813,040 8,787,551 2,867,100 796,084Inventories - net (Note 7) 120,668,163 116,344,207 115,256,474 111,484,961Other current assets 51,448,380 42,866,282 8,293,014 4,804,670

Total Current Assets 755,595,248 563,738,503 582,891,217 395,029,574

NON - CURRENT ASSETSInvestments recorded by the equity method

(Notes 8 and 15) 46,483,568 44,162,014 214,067,830 235,266,755Other long-term investments (Notes 9 and 20) 24,529,881 25,730,374 2,540,260 2,540,260Other long-term loans 364,222 423,725 309,500 383,300Property, plant and equipment - net

(Note 10) 1,022,587,066 884,830,438 954,537,835 812,248,155Intangible assets - net (Note 11) 166,443,974 176,944,393 127,065,161 131,273,959Other non-current assets 68,530,751 53,059,863 62,949,043 49,806,699

Total Non-current Assets 1,328,939,462 1,185,150,807 1,361,469,629 1,231,519,128TOTAL ASSETS 2,084,534,710 1,748,889,310 1,944,360,846 1,626,548,702

Notes to the financial statements form an integral part of these statements

Page 144: S&P : Annual Report 2005

156

S&P SYNDICATE PUBLIC COMPANY LIMITEDANNUAL REPORT 2005

S&P SYNDICATE PUBLIC COMPANY LIMITED AND SUBSIDIARIESBALANCE SHEETS (CONTINUED)

AS AT DECEMBER 31, 2005 AND 2004

BAHTConsolidated The Company Only

2005 2004 2005 2004

LIABILITIES AND SHAREHOLDERS’ EQUITYCURRENT LIABILITIES

Bank overdraft and short-term loansfrom financial institutions 54,223,358 40,336,255 50,000,000 31,717,424

Trade accounts payable (Note 15) 227,845,597 213,512,423 204,684,218 195,126,649Short-term loans from related parties (Note 15) 354,253 394,547 473,634 428,695Income tax payable 46,291,864 40,167,708 38,387,790 33,802,272Accrued expenses 125,491,055 116,711,091 100,423,718 90,231,731Other current liabilities 55,753,800 33,273,888 37,519,631 26,934,623

Total Current Liabilities 509,959,927 444,395,912 431,488,991 378,241,394

NON-CURRENT LIABILITIESOther non-current liabilities 1,893,090 – – –

Total Non-Current Liabilities 1,893,090 – – –TOTAL LIABILITIES 511,853,017 444,395,912 431,488,991 378,241,394

SHAREHOLDERS’ EQUITYShare capital (Notes 12 and 13)

Authorized share capital105,000,000 common shares,

Baht 5 each 525,000,000 525,000,000 525,000,000 525,000,000Issued and paid-up share capital

86,953,800 common shares,Baht 5 each, fully paid 434,769,000 434,769,000

74,854,300 common shares,Baht 5 each, fully paid 374,271,500 374,271,500

Premium on common shares (Notes 12 and 13) 459,458,400 302,164,900 459,458,400 302,164,900Exchange differences on translation of the

financial statements of foreign subsidiaries 14,474,896 20,471,528 14,474,896 20,471,528Unrealized loss on revaluation of investments (100,000) – (100,000) –Retained earnings

AppropriatedLegal reserve (Notes 16 and 17) 37,427,150 35,888,500 37,427,150 35,888,500

Unappropriated 566,842,409 515,510,880 566,842,409 515,510,880Shareholders’ Equity of Parent Company 1,512,871,855 1,248,307,308 1,512,871,855 1,248,307,308Minority interests 59,809,838 56,186,090 – –

Total Shareholders’ Equity 1,572,681,693 1,304,493,398 1,512,871,855 1,248,307,308TOTAL LIABILITIES AND

SHAREHOLDERS’ EQUITY 2,084,534,710 1,748,889,310 1,944,360,846 1,626,548,702

Notes to the financial statements form an integral part of these statements

Page 145: S&P : Annual Report 2005

157

S&P SYNDICATE PUBLIC COMPANY LIMITED AND SUBSIDIARIESSTATEMENTS OF INCOME

FOR THE YEARS ENDED DECEMBER 31, 2005 AND 2004

BAHTConsolidated The Company Only

2005 2004 2005 2004REVENUES

Sales and service incomes 3,361,306,903 2,994,692,478 2,728,346,303 2,474,164,559Other incomes 49,499,704 48,385,496 38,799,833 40,758,013Share of profits from investments recorded

by the equity method (Note 15) 4,305,786 727,296 32,139,517 18,932,724Total Revenues 3,415,112,393 3,043,805,270 2,799,285,653 2,533,855,296

EXPENSESCost of sales and services 1,933,030,511 1,737,709,552 1,769,215,752 1,600,807,571Selling and administrative expenses 1,186,197,455 1,046,099,553 764,560,324 691,880,247

Total Expenses 3,119,227,966 2,783,809,105 2,533,776,076 2,292,687,818

Profit before interest expense and income tax 295,884,427 259,996,165 265,509,577 241,167,478Interest expense (2,120,589) (1,016,198) (1,871,989) (701,423)Income tax (80,278,809) (69,791,916) (60,036,909) (57,238,809)Profit after interest expense and income tax 213,485,029 189,188,051 203,600,679 183,227,246Net profit of minority interests (9,884,350) (5,960,805) – –NET PROFIT 203,600,679 183,227,246 203,600,679 183,227,246

Basic Earnings Per Share (Note 14) 2.68 2.53 2.68 2.53

Diluted Earnings Per Share (Note 14) 2.54 2.29 2.54 2.29

Notes to the financial statements form an integral part of these statements

Page 146: S&P : Annual Report 2005

158

S&P SYNDICATE PUBLIC COMPANY LIMITEDANNUAL REPORT 2005

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Page 147: S&P : Annual Report 2005

159

S&

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Page 148: S&P : Annual Report 2005

160

S&P SYNDICATE PUBLIC COMPANY LIMITEDANNUAL REPORT 2005

S&P SYNDICATE PUBLIC COMPANY LIMITED AND SUBSIDIARIESSTATEMENTS OF CASH FLOWS

FOR THE YEARS ENDED DECEMBER 31, 2005 AND 2004

BAHTConsolidated The Company Only

2005 2004 2005 2004

CASH FLOWS FROM OPERATING ACTIVITIESNet profit 203,600,679 183,227,246 203,600,679 183,227,246Items to reconcile net profit to net cash flows:

Share of profits from investments recordedby the equity method (4,305,786) (727,296) (32,139,517) (18,932,724)

Depreciation and amortization 189,184,118 155,471,095 162,522,316 137,929,371Amortization of goodwill (206,279) (206,279) (206,279) (206,279)Loss from intangible assets written-off – 9,607,514 – 9,607,514Loss on equipment written-off 1,678,391 10,942,943 1,678,391 2,931,135(Gain) loss on sales of equipment 366,412 (1,385,833) 345,169 (1,385,833)Net profit of minority interests 9,884,350 5,960,805 – –

Income from operations before changesin operating assets and liabilities 400,201,885 362,890,195 335,800,759 313,170,430

(Increase) decrease in operating assetsTrade accounts receivable (6,193,385) (11,848,532) (3,372,170) (18,315,562)Inventories (4,323,956) (30,444,041) (3,771,513) (35,381,037)Other current assets (8,582,098) (16,327,427) (3,488,344) (53,407)Other non-current asssts (15,470,888) (3,013,070) (13,142,344) (4,032,549)

Increase (decrease) in operating liabilitiesTrade accounts payable 14,333,174 14,216,520 11,411,871 17,056,926Income tax payable 6,124,156 503,970 4,585,519 1,457,234Accrued expenses 8,779,964 28,525,009 8,337,685 18,769,452Other current liabilities 17,608,227 (18,123,918) 5,713,322 (11,843,783)Other non-current liabilities 1,893,090 – – –

Net Cash Provided by Operating Activities 414,370,169 326,378,706 342,074,785 280,827,704

Page 149: S&P : Annual Report 2005

161

S&P SYNDICATE PUBLIC COMPANY LIMITED AND SUBSIDIARIESSTATEMENTS OF CASH FLOWS (CONTINUED)

FOR THE YEARS ENDED DECEMBER 31, 2005 AND 2004

BAHTConsolidated The Company Only

2005 2004 2005 2004

CASH FLOWS FROM INVESTING ACTIVITIESIncrease in short-term investments (29,182,978) (506,686) (24,000,000) –(Increase) decrease in short-term loans

to related parties 974,511 6,464,283 (2,071,016) 7,555,976Decrease in investments recorded

by the equity method – 655,398 – 655,398Cash paid to acquire investment of a subsidiary – – (499,300) –Cash received from decrease of share capital

of a subsidiary 1,984,232 – 19,219,189 –(Increase) decrease in other long-term investments 1,200,493 (22,515,339) – –Decrease in long-term loans to related parties – 1,050,000 – 1,050,000(Increase) decrease in other long-term loans 59,503 60,217 73,800 (125,197)Cash payment for purchases of fixed assets (313,770,290) (287,329,891) (289,074,645) (241,378,548)Dividend income – – 28,621,921 –Proceeds from sale of fixed assets 3,079,952 2,785,047 2,733,645 2,785,047Increase in intangible assets (8,713,460) (4,219,959) (11,207,794) (130,000)

Net Cash Used in Investing Activities (344,368,037) (303,556,930) (276,204,200) (229,587,324)

Page 150: S&P : Annual Report 2005

162

S&P SYNDICATE PUBLIC COMPANY LIMITEDANNUAL REPORT 2005

S&P SYNDICATE PUBLIC COMPANY LIMITED AND SUBSIDIARIESSTATEMENTS OF CASH FLOWS (CONTINUED)

FOR THE YEARS ENDED DECEMBER 31, 2005 AND 2004

BAHTConsolidated The Company Only

2005 2004 2005 2004

CASH FLOWS FROM FINANCING ACTIVITIESIncrease in short-term loans from financial

institutions 13,887,103 36,217,924 18,282,576 31,717,424Increase (decrease) in short-term loans from

related parties (40,294) (1,194,658) 44,939 (1,791,300)Proceeds from issuance of share capital 217,791,000 55,391,400 217,791,000 55,391,400Dividend paid (150,730,500) (172,418,250) (150,730,500) (172,418,250)

Net Cash Provided by (Used in)Financing Activities 80,907,309 (82,003,584) 85,388,015 (87,100,726)

Exchange differences on translation of thefinancial statements of foreign subsidiaries (6,260,602) 1,080,522 – –

NET INCREASE (DECREASE) IN CASH ANDCASH EQUIVALENTS 144,648,839 (58,101,286) 151,258,600 (35,860,346)

CASH AND CASH EQUIVALENTS ATTHE BEGINNING OF THE YEAR 297,549,825 355,651,111 189,555,854 225,416,200

CASH AND CASH EQUIVALENTS ATTHE END OF THE YEAR 442,198,664 297,549,825 340,814,454 189,555,854

SUPPLEMENTAL DISCLOSURES OF CASH FLOW INFORMATIONCash paid during the years

Interest expense 1,940,315 1,050,794 1,691,715 701,423Income tax 74,151,713 69,289,896 55,451,391 55,781,575

Notes to the financial statements form an integral part of these statements

Page 151: S&P : Annual Report 2005

163

S&P SYNDICATE PUBLIC COMPANY LIMITEDAND SUBSIDIARIES

NOTES TO FINANCIAL STATEMENTSFOR THE YEARS ENDED DECEMBER 31,

2005 AND 2004

1. GENERAL INFORMATION

On October 14, 1973, S&P Syndicate Public Company Limited was incorporated under the Civiland Commercial Code of Thailand and was transformed to Public Company Limited on April 20, 1994.The location of its head office is at 457-457/6 Sukhumvit 55 (Thonglor), Sukhumvit Road, Klongtonnua,Vadhana, Bangkok 10110.

S&P Syndicate Public Company Limited is the parent company within the group of companies.The core business is the operation of a nationwide and international chain of restaurants and bakeryshops numbering approximately 252 and 212 outlets in the years 2005 and 2004, respectively, theproduction of bakery, frozen foods and other food products and food-service related business such asoutside catering.

SUPPLEMENTAL DISCLOSURE OF NUMBER OF EMPLOYEES AND STAFF COSTS

Number of employees as at December 31, 2005 and 2004 and staff costs for the years endedDecember 31, 2005 and 2004 were included in cost of sales and services and selling and administrativeexpenses as follows:

Number of employees Staff costsMillion Baht

2005 2004 2005 2004

S&P Syndicated Public Company Limited 4,051 3,806 652.53 565.21S&P Syndicated public Company Limited and subsidiaries 4,130 3,902 835.75 724.59

2. BASIS OF FINANCIAL STATEMENT PREPARATION ANDPRINCIPLES OF CONSOLIDATION

The statutory financial statements are prepared in Thai Baht in the Thai language in conformitywith generally accepted accounting principles in Thailand. Accordingly the financial statements are intendedsolely to present the financial position and results of operations and cash flows in accordance withaccounting principles and practices generally accepted in Thailand.

The financial statements are prepared in compliance with the Notification of the Department ofCommercial Registration (currently the Department of Business Development) dated September 14,2001, regarding “The Brief Particulars in the Financial Statements B.E. 2544”. In addition, the Company’sfinancial statements have been prepared in accordance with the Regulation of The Stock Exchange ofThailand (SET) dated January 22, 2001, regarding the preparation and submission of financial statementsand reports for the financial position and results of operations of the listed companies B.E. 2544.

Page 152: S&P : Annual Report 2005

164

S&P SYNDICATE PUBLIC COMPANY LIMITEDANNUAL REPORT 2005

For the convenience of readers, an English translation of the financial statements has beenprepared from the Thai language statutory financial statements which are issued for domestic financialreporting purposes.

The consolidated financial statements for the years ended December 31, include the financialstatements of S&P Syndicate Public Company Limited (“the Company”) and its subsidiaries in which theCompany has control or invested over 50% of their voting rights. These subsidiaries are detailed asfollows:

Business type Country of Percentage of holdingsregistration As at December 31,

Subsidiaries 2005 2004

S&P Kitchen Company Limited Ceased operation Thailand 99.99 99.99S&P Bakery Products Company Limited (3) Dissolution Thailand – 99.99S&P Distribution and Sales Company Limited (3) Dissolution Thailand – 99.99S&P Franchising Company Limited (3) Dissolution Thailand – 99.20S&P Global Company Limited Holding Company Thailand 80.00 80.00Seriwat Foods Company Limited (1) Ceased operation Thailand 99.96 99.96S&P Minor Foods Company Limited (2) Office rental Thailand 99.93 –

(1) In October 2004, the Company has ceased its operations and transferred employees and business operation to S&P Syndicate PublicCompany Limited.

(2) The Company has acquired additional shares from existing shareholders in third quarter of 2005 totalling Baht 499,300.(3) The Extraordinary Shareholders’ Meeting of S&P Bakery Products Co., Ltd., S&P Distribution and Sales Co., Ltd., and S&P Franchising

Co., Ltd., subsidiaries, on August 24, 2005 has a resolution to dissolve the companies. Subsequently, on September 12, 2005 theExtrordinary Shareholders’ Meeting has reconfirmed the dissolution and filed an application for dissolution at the Registrar ofPartnerships and Companies on September 26, 2005.

Additionally, the consolidated financial statements include the results from the financial statementsof overseas subsidiary companies, in which S&P Global Company Limited has a shareholding, as theCompany has been given authority to provide technical assistance to, and management of Thai foodrestaurants owned by these companies under agreement as follows:

Business type Country of Percentage held byregistration S&P Global Co., Ltd.

December 31,2005 2004

Held by S&P Global Company LimitedS&P Restaurant Company Limited Restaurant England 96.00 96.00Patara (Geneva) SA Restaurant Switzerland 62.00 62.00Theme Foods PTE Limited Restaurant Singapore 50.00 50.00Siam Kitchen Causeway Point PTE Limited Restaurant Singapore 50.00 50.00Patara Taiwan Company Limited Restaurant Taiwan 50.00 50.00Patio International Limited Restaurant Taiwan 55.00 55.00

Held by Theme Foods (PTE) Limited, SingaporeSiam Kitchen Sdn. Bhd. Restaurant Malaysia 99.99 99.99

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Significant intercompany transactions between the Company and its subsidiaries have beeneliminated from the consolidated financial statements.

The consolidated financial statements for the years ended December 31, 2005 and 2004, didnot include the financial statements of Siam Kitchen Sdn. Bhd., subsidiary company registered in Malaysiawhich is invested by Theme Foods (PTE) Limited as the amount is immaterial. As at December 31, 2005and 2004, book value of such investment in such subsidiary are Baht 0.24 million.

Assets, investments recorded by the equity method as at December 31, 2005 and 2004, revenuesand the share of profits (loss) from investments recorded by the equity method in subsidiary andassociated companies for the years ended December 31, 2005 and 2004 accounted for as the percentageof total assets, net assets (total assets net off total liabilities), total revenues and net profit, respectively,in the consolidated financial statements are summarized below:

CONSOLIDATEDCompany’s name Assets as Investments Revenues as Share of profit

percentage of recorded by the percentage of (loss) astotal assets equity method total revenues percentage of

as at as percentage of for the years net profit fornet assets as at ended the years ended

December 31, December 31, December 31, December 31,2005 2004 2005 2004 2005 2004 2005 2004

Held by S&P Syndicate Public Company LimitedSubsidiaries

S&P Kitchen Company Limited 0.34 1.02 – – 0.01 0.01 – –S&P Bakery Products Company Limited (3) – 0.27 – – – – – –S&P Distribution and Sales Company Limited (3) – 0.06 – – – – – –S&P Franchising Company Limited (3) – 0.14 – – – – – –S&P Global Company Limited and subsidiaries 14.15 14.72 0.20* 0.20* 18.80 16.48 0.24 (0.29)

(Proportion of each subsidiary and associatedcompanies of S&P Global Co., Ltd. arepresented in next table)

Seriwat Foods Co., Ltd. (1) 0.27 1.83 – – 0.13 2.57 – –Siam Kitchen Sdn. Bhd.

(Held by Theme Foods (PTE) Limited) – – – 0.02* – – – –S&P Minor food Co., Ltd. (2) 0.23 – – – 0.18 – – –

AssociatesS&P Minor food Co., Ltd. – – – 0.14* – – – 0.57*HD Distributors (Thailand) Co., Ltd. – – 2.75 3.02 – – 1.87 (0.16)

14.99 18.04 2.95 3.38 19.12 19.06 2.11 0.12

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CONSOLIDATEDCompany’s name Assets as Investments Revenues as Share of profit

percentage of recorded by the percentage of (loss) astotal assets equity method total revenues percentage of

as at as percentage of for the years net profit fornet assets as at ended the years ended

December 31, December 31, December 31, December 31,2005 2004 2005 2004 2005 2004 2005 2004

Held by S&P Global Company LimitedSubsidiaries

S&P Restaurant Company Limited 7.26 7.33 – – 8.34 6.63 – –Patara (Geneva) SA 1.06 1.11 – – 1.93 2.06 – –Theme Foods (PTE) Limited 1.19 1.91* – – 2.46 2.69* – –Siam Kitchen Causeway Point PTE Limited 1.19 1.03* – – 4.34 3.77* – –Patara Taiwan Company Limited 0.28 0.27* – – 0.50 0.51* – –Patio International Company Limited 0.86 0.76* – – 1.16 0.78* – –Siam Kitchen Sdn. Bhd.

(Held by Theme Foods (PTE) Limited) – – 0.01* 0.02* – – – (0.11)Associates

Patara Developments SA – – 0.19 0.20 – – 0.24 (0.29)11.84 12.41 0.20 0.22 18.73 16.44 0.24 (0.40)

Investments recorded by the equity method as at December 31, 2005 and 2004 and the shareof profits (loss) from investments recorded by the equity method for the years ended December 31, 2005and 2004, of subsidiary and associated companies accounted for as the percentage of net assets andnet profit, respectively, in the Company’s financial statements are summarized below:

The Company onlyCompany’s name Investments recorded Share of profit (loss)

by the equity method as percentageas percentage of net assets of net profit for the years

as at December 31, ended December 31,2005 2004 2005 2004

Held by S&P Syndicate Public Company LimitedSubsidiaries:

S&P Kitchen Company Limited 0.47 1.44 0.07 0.07S&P Bakery Products Company Limited (3) – 0.38 0.01 0.01S&P Distribution and Sales Company Limited (3) – 0.08 (0.01) (0.01)S&P Franchising Company Limited (3) – 0.19 – –S&P Global Company Limited 10.31 10.84 13.02 7.04

(Proportion of each subsidiary and associated companiesof S&P Global Co., Ltd. are presented below)

Seriwat Foods Company Limited (1) 0.30 2.56 0.17 2.98S&P Minor food Co., Ltd. (2) 0.20 – 0.64 –

Associates:S&P Minor Foods Company Limited – 0.14* – 0.57*HD Distributors (Thailand) Company Limited 2.86* 3.16* 1.87* (0.16)*

14.14 18.79 15.77 10.50

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The Company onlyCompany’s name Investments recorded Share of profit (loss)

by the equity method as percentageas percentage of net assets of net profit for the years

as at December 31, ended December 31,2005 2004 2005 2004

Held by S&P Global Company LimitedSubsidiaries:

S&P Restaurant Company Limited 6.39 6.41 10.76 4.78Patara (Geneva) SA 0.49 0.49 0.97 0.29Theme Foods (PTE) Limited 0.54* 0.56* 0.48* 0.56*Siam Kitchen Causeway Point PTE Limited 0.14* 0.09* 0.51* (0.34)*Patara Taiwan Company Limited (0.06)* (0.05)* (0.14)* (0.58)*Patio International Company Limited 0.19* 0.34* (0.66)* 0.23*

AssociatePatara Developments SA 0.20 0.21* 0.24 (0.29)*

Held by Theme Foods (PTE) Limited, SingaporeSiam Kitchen Sdn. Bhd. 0.02* 0.02* – (0.11)*

7.91 8.07 12.16 4.54

* Information which was provided by the management, was not audited or reviewed by an auditor.(1) In October 2004, the Company has ceased its operations and transferred employees and business operation to S&P SyndicatePublic

Company Limited.(2) The Company has acquired additional shares from existing shareholder in third quarter of 2005 totalling Baht 499,300.(3) The Extraordinary Shareholders’ Meeting of S&P Bakery Products Co., Ltd., S&P Distribution and Sales Co., Ltd., and S&P Franchising

Co., Ltd., subsidiaries, on August 24, 2005 has a resolution to dissolve the companies. Subsequently, on September 12, 2005 theExtrordinary Shareholders’ Meeting has reconfirmed the dissolution and filed an application for dissolution at the Registrar ofPartnerships and Companies on September 26, 2005.

3. SIGNIFICANT ACCOUNTING POLICIES

The significant accounting policies are summarized as below:

3.1 Cash and cash equivalents

Cash and cash equivalents consist of cash in hand, deposits at bank and all types ofdeposits at financial institution with the original maturities of three months or less andwithout the restriction of use.

3.2 Allowance for doubtful accounts

Allowance for doubtful accounts is an estimate of those amounts which may prove to beuncollectable based on collection experience and a review of the current status of eachreceivable.

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3.3 Inventories

Inventories of the Company and its subsidiaries are stated at the lower of cost or netrealizable value. The cost of inventories of the Company and its three subsidiaries is statedusing the average cost method and of the other two subsidiaries is stated using the firstin, first out method.

3.4 Investments recorded by the equity method

Investments in subsidiary and associated companies are recorded using the equity method,except in the case where impairment of investment is deemed to have occurred in whichcase the loss will be charged to the statement of income.

3.5 Other long-term investments

Other long-term investments represent cash at banks pledged as collateral and investmentsin non-marketable equity securities, classified as general investments and are stated at cost.

3.6 Property, plant and equipment

Land of the Company is stated at cost. Plant and equipment of the Company and domesticsubsidiary companies are stated at cost, net of accumulated depreciation. Depreciation iscomputed by the straight-line method over the estimated useful lives of the assets of 20years for buildings, 5 years for land improvements and 5 - 8 years for equipment.

Equipment of overseas subsidiary companies is stated at cost, net of accumulateddepreciation. Depreciation is computed by the straight-line and the diminishing balancemethods over the estimated useful lives of the assets of 4 - 5 years.

3.7 Intangible assets

Intangible assets consist of:

a. Computer software development costs stated at cost and are being amortized toexpenses, within five years.

b. Leaseholds of the Company are being amortized using the straight-line method overthe lease periods. Long-term leasehold of an overseas subsidiary company is beingamortized at 2% of cost using the straight-line method. Short-term leasehold is beingamortized over the lease period.

c. Goodwill represents the excess of cost over the net asset value at the date of acquisitionof a subsidiary company, net of negative goodwill, which is the excess of net asset valueover cost of two subsidiaries at the date of acquisition. This excess shall be amortizedusing the straight-line method over a period of ten years from the date of acquisition.

3.8 Provident fund

The Company established the provident fund in compliance with the Provident Fund ActB.E. 2530. The fund receives voluntary contributions from employees. Under the fund’sregulations, the members contribute 2% of their monthly earnings to the fund while theCompany contributes 2% of such earnings. Members are entitled to their whole contributionsplus net benefit thereon, and the Company’s contributions plus benefits thereon at therates depending on their period of service as prescribed by the regulations of the fund.

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The provident fund is managed by a fund manager which is a mutual fund managementcompany, and therefore, is not shown in the balance sheets.

3.9 Foreign currency accounts

Transactions in foreign currencies occurring during the year are converted into Baht at therates prevailing on the transaction date. Monetary assets and liabilities in foreign currenciesat the end of the year are translated into Baht at the rates prevailing on that date asdetermined by the Bank of Thailand. Gains or losses on translation are included in thestatement of income.

The translation of foreign financial statements for the purpose of preparing the consolidatedfinancial statements is determined using the following rates;

a. assets and liabilities are translated at the rate prevailing at the end of year.

b. shareholders’ equity is translated at the rates prevailing on the transaction dates.

c. revenues and expenses are translated at the average rate for the year.

Gain or loss on translation of foreign financial statements is shown under shareholders’equity.

Intercompany transactions are converted at the rates prevailing on the date of transactionand, upon elimination, at the rates prevailing on the consolidation date.

3.10 Recognition of revenues and expenses

Revenue from the sales of goods and cost of sales of goods are recognised as sales andcost of sales in the statement of income when the significant risks and rewards of ownershiphave been transferred to the buyer.

Other revenues and expenses are recognized on the accrual basis.

3.11 Income tax

Income tax of the Company and domestic subsidiary companies for each year is recognizedon the accrual basis which is based on the taxable profit for the year.

Income tax of the overseas subsidiary companies for each year is recognized on the accrualbasis in accordance with the business practice of the countries where the business wasperformed.

3.12 Earnings per share

Basic earnings per share are computed by dividing net profit for the year by the weightedaverage number of ordinary shares outstanding during the year.

Diluted earnings per share are computed by dividing net profit for the year by the total ofthe weighted average number of ordinary shares outstanding during the year plus theweighted average number of ordinary shares which would be issued on the conversion ofall dilutive potential ordinary shares (warrants) into ordinary shares.

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3.13 Use of accounting estimates

Preparation of financial statements in conformity with generally accepted accountingprinciples requires management to make estimates and assumptions that affect the reportedamounts of revenues, expenses, assets and liabilities and the disclosure of contingent assetsand liabilities. The actual results may differ from such estimates.

4. CASH AND CASH EQUIVALENTS

For the purposes of preparation of the statements of cash flows in accordance with the relevantThai Accounting Standard, as at December 31, cash and cash equivalents consist of:

Thousand BahtConsolidated The Company Only

2005 2004 2005 2004

Cash on hand and at banks 411,747 214,309 310,363 159,040Time deposits 30,451 30,516 30,451 30,516Promissory notes issued by financial institutions – 52,725 – –

Cash and Cash Equivalents 442,198 297,550 340,814 189,556

Cash and cash equivalents, include cash on hand and at banks and promissory notes issued byfinancial institutions due within three months and without obligation, with interest at market rates.

5. SHORT-TERM INVESTMENTS

As at December 31, 2005 and 2004, short-term investments are promissory notes issued byfinancial institutions due within 12 months and without obligation, with interest at market rates.

6. TRADE ACCOUNTS RECEIVABLE - NET

As at December 31, the Company and its subsidiaries had outstanding balances of trade accountsreceivable (including trade accounts receivable from related parties) aged by the number of months asfollows:

Thousand BahtConsolidated The Company Only

2005 2004 2005 2004

Current 69,211 59,900 60,696 54,529Overdue

3 months or less 31,595 33,892 31,595 33,254Over 3 months up to 6 months 2,060 3,343 2,060 3,343Over 6 months up to 12 months 435 106 435 106Over 12 months 9,347 9,293 6,905 7,090

Total 112,648 106,534 101,691 98,322Less Allowance for doubtful accounts (12,058) (12,137) (9,931) (9,934)Trade Accounts Receivable - Net 100,590 94,397 91,760 88,388

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7. INVENTORIES - NET

Inventories as at December 31, consist of:

Thousand BahtConsolidated The Company Only

2005 2004 2005 2004

Finished goods 37,519 37,224 37,519 37,224Work in process 1,132 1,096 1,132 1,096Raw materials 41,413 43,824 36,001 38,153Packaging materials 32,793 29,396 32,793 29,396Spare parts and supplies 7,811 5,599 7,811 5,599Goods in transit – 45 – 17

Total 120,668 117,184 115,256 111,485Less Allowance for obsolete stocks – (840) – –Inventories - Net 120,668 116,344 115,256 111,485

8. INVESTMENTS RECORDED BY THE EQUITY METHOD

Investments recorded by the equity method in the consolidated financial statements as at December31, 2005 consist of:

Thousand BahtType of Relationship Paid-up % Share At cost At equity Dividendsbusiness capital holding method method

(Thousand Baht)

SubsidiarySiam Kitchen SDN BHD Thai restaurant Co-shareholders

and co-management 2,845 50.00 1,423 235 –team

AssociatesHD Distributors (Thailand) Agency for

Co., Ltd. food distribution ” 100,000 49.00 48,998 43,238 –

Shareholding held by S&PGlobal Co., Ltd.Patara Development SA Thai Restaurant ” 5,314 45.00 2,392 3,011 –Union Sky S&P Limited ” ” 50 20.00 10 – –

Total 52,823 46,484 –

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Investments recorded by the equity method in the consolidated financial statements as at December31, 2004 consist of:

Thousand BahtType of Relationship Paid-up % Share At cost At equity Dividendsbusiness capital holding method method

(Thousand Baht)

SubsidiarySiam Kitchen SDN BHD Thai restaurant Co-shareholders

and co-managementteam 2,845 50.00 1,423 241 –

AssociatesS&P Minor Food Co., Ltd. Office rental ” 1,000 50.00 500 1,798 –S&P Catering Co., Ltd. Ceased operations* ” 1,000 50.00 – 50 155HD Distributors (Thailand) Agency for food

Co., Ltd. distribution ” 100,000 49.00 48,998 39,428 –

Shareholding held by S&PGlobal Co., Ltd.Patara Development SA Thai restaurant ” 5,314 45.00 2,392 2,645 –Union Sky S&P Limited ” ” 50 20.00 10 – –

Total 53,323 44,162 155

* Ceased operations by selling assets, transferring employees and business operations to S&P Syndicate Public Company Limited, asfrom the second quarter, 1998. The Extraordinary Shareholders’ Meeting of S&P Catering Co., Ltd., an associated company, onAugust 31, 2004 has a resolution to dissolute the Company. Subsequently, on September 15, 2004 the Extraordinary Shareholders’Meeting has reconfirmed the dissolution. And the Company has filed an application for dissolution at the Business Registration ServiceOffice of the Ministry of Commerce on September 15, 2004.

Investments recorded by the equity method in the Company’s financial statements as at December31, 2005 consists of:

Thousand BahtType of Relationship Paid-up % Share At cost At equity Dividendsbusiness capital holding method method

(Thousand Baht)

SubsidiariesS&P Kitchen Co., Ltd. Ceased Co-shareholders and

operation (1) (2) co-managementteam 4,000 99.99 3,999 7,069 –

S&P Global Co., Ltd. Holding company ” 50,000 80.00 40,000 156,225 –Seriwat Foods Co., Ltd. Food industry (4) ” 2,000 99.96 1,999 4,571 27,989S&P Minor Food Co., Ltd. Office for rent ” 1,000 99.93 999 2,965 633

AssociatesHD Distributors (Thailand) Agency for

Co., Ltd. food distribution ” 100,000 49.00 48,998 43,238 –Total 95,995 214,068 28,622

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Investments recorded by the equity method in the Company’s financial statements as at December31, 2004 consists of:

Thousand BahtType of Relationship Paid-up % Share At cost At equity Dividendsbusiness capital holding method method

(Thousand Baht)

SubsidiariesS&P Kitchen Co., Ltd. Ceased Co-shareholders and

operation (1) (2) co-managementteam 15,000 99.99 139,793 17,920 –

S&P Bakery Products Ceased operation (1) (5) ” 1,000 99.99 1,000 4,722 –Co., Ltd.

S&P Distribution and Ceased operation (1) (5) ” 1,000 99.99 1,000 1,049 –Sales Co., Ltd.

S&P Franchising Ceased operation (1) (5) ” 2,000 99.20 1,984 2,385 –Co., Ltd.

S&P Global Co., Ltd. Holding company ” 50,000 80.00 40,000 135,709 –Seriwat Foods Co., Ltd. Food industry (4) ” 2,000 99.96 1,999 32,205 –

AssociatesS&P Minor Food Co., Ltd. Office for rent ” 1,000 50.00 500 1,798 –S&P Catering Co., Ltd. Ceased ” 1,000 50.00 500 50 155

operation (1) (3)HD Distributors Agency for

(Thailand) Co., Ltd. food distribution ” 100,000 49.00 48,998 39,429 –Total 235,774 235,267 155

(1) Ceased operations by selling assets, transferring employees and business operations to S&P Syndicate Public Company Limited, asfrom the second quarter, 1998.

(2) The Extraordinary Shareholders’ Meeting of S&P Kitchen Co., Ltd. on December 11, 1998 had a resolution to decrease thecompany’s registered share capital by Baht 45 million from 600,000 shares at par value of Baht 100 each to 150,000 shares at parvalue of Baht 100 each. There remained a total amount of new registered share capital of Baht 15 million. The company registeredits change of share capital at the Registrar of Partnerships and Companies of the Ministry of Commerce on December 29, 2003.– The Extraordinary Shareholders’ Meeting of S&P Kitchen Co., Ltd., a subsidiary company, held on March 15, 2005 had a resolution

to decrease the Company’s registered share capital by Baht 11 million from 150,000 shares at per value of Baht 100 each to40,000 shares at par value of Baht 100 each. They remained a total amount of new registered share capital of Baht 4 million.The Company registered its change of share capital at the Registrar of Partnerships and Companies of the Ministry of Commerceon August 19, 2005.

(3) The Extraordinary Shareholders’ Meeting of S&P Catering Co., Ltd., an associated company, on August 31, 2004 had a resolutionto dissolute the Company. Subsequently, on September 15, 2004 the Extraordinary Shareholders’ Meeting has reconfirmed thedissolution. And the Company has filed an application for dissolution at the Registrar of Partnerships and Companies of the Ministryof Commerce on September 15, 2004.

(4) In October 2004, the Company has ceased its operations and transferred employees and business operation to S&P Syndicate PublicCompany Limited.

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(5) The Extraordinary Shareholders’ Meeting of S&P Bakery Products Co., Ltd., S&P Distribution and Sales Co., Ltd., and S&P FranchisingCo., Ltd., subsidiaries, on August 24, 2005 has a resolution to dissolve the companies. Subsequently, on September 12, 2005 theExtrordinary Shareholders’ Meeting has reconfirmed the dissolution and filed an application for dissolution at the Registrar ofPartnerships and Companies of the Ministry of Commerce on September 26, 2005.

9. OTHER LONG -TERM INVESTMENTS

Other long-term investments as at December 31, consisted of:

Thousand BahtConsolidated The Company Only

2005 2004 2005 2004

General investments – 675 – –Pledged time deposits 24,530 25,055 2,540 2,540Total other long-term investments 24,530 25,730 2,540 2,540

10. PROPERTY, PLANT AND EQUIPMENT - NET

Property, plant and equipment - net as at December 31, 2005 and 2004 consist of:

Thousand BahtConsolidated Balance Additions Disposals Transfers/ Adjustments Balance

as at Adjustment from the as atDecember 31, translation December 31,

2004 of foreign 2005financial

statements

CostLand 232,165 – – – – 232,165Land improvements 6,948 – (6,948) – – –Office buildings and office

improvements 65,856 – (66) – – 65,790Factory buildings 131,968 – (1,841) – – 130,127Machinery and equipment 534,636 63,304 (23,643) 29,392 (4,397) 599,292Office furniture and equipment 585,462 96,404 (24,144) 57,753 748 716,223Vehicles 45,276 7,642 (2,333) – 385 50,970Construction in progress 73,922 147,840 – (87,145) – 134,617

Total cost 1,676,233 315,190 (58,975) – (3,264) 1,929,184

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Thousand BahtConsolidated Balance Additions Disposals Transfers/ Adjustments Balance

as at Adjustment from the as atDecember 31, translation December 31,

2004 of foreign 2005financial

statements

Accumulated depreciation:Land improvements 6,948 – (6,948) – – –Office buildings and office

improvements 44,817 4,058 (65) – – 48,810Factory buildings 41,489 6,434 (1,841) – – 46,082Machinery and equipment 307,471 71,098 (22,395) – (1,292) 354,882Office furniture and equipment 370,240 79,948 (20,639) – 667 430,216Vehicles 20,438 8,227 (1,963) (57) (38) 26,607

Total accumulated depreciation 791,403 169,765 (53,851) (57) (663) 906,597Property plant and equipment-net 884,830 1,022,587

Depreciation for the years ended December 31,2005 169,7652004 137,402

Thousand BahtThe Company only Balance Additions Disposals Transfers/ Balance

as at Adjustment as atDecember 31, December 31,

2004 2005

CostLand 232,165 – – – 232,165Land improvements 6,948 – (6,948) – –Office buildings and office improvements 58,731 – (66) – 58,665Factory buildings 131,968 – (1,841) – 130,127Machinery and equipment 424,806 50,267 (23,643) 29,392 480,822Office furniture and equipment 562,665 90,392 (24,144) 57,753 686,666Vehicles 42,473 5,448 (597) – 47,324Construction in progress 73,922 147,840 – (87,145) 134,617

Total cost 1,533,678 293,947 (57,239) – 1,770,386

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Thousand BahtThe Company only Balance Additions Disposals Transfers/ Balance

as at Adjustment as atDecember 31, December 31,

2004 2005

Accumulated depreciation:Land improvements 6,948 – (6,948) – –Office buildings and office improvements 37,691 4,058 (65) – 41,684Factory buildings 41,489 6,434 (1,841) – 46,082Machinery and equipment 260,126 54,511 (22,395) – 292,242Office furniture and equipment 356,369 74,356 (20,639) – 410,086Vehicles 18,807 7,599 (595) (57) 25,754

Total accumulated depreciation 721,430 146,958 (52,483) (57) 815,848Property, plant and equipment-net 812,248 954,538

Depreciation for the years ended December 31,2005 146,9582004 123,105

Depreciation of the plant and equipment of the Company and its subsidiaries for the yearsended December 31, includes in cost of sales and services and selling and administrative expenses,consist of:

Thousand BahtConsolidated The Company Only

2005 2004 2005 2004

Cost of sales and services 62,530 51,408 62,126 51,260Selling and administrative expenses 107,235 85,994 84,832 71,845Total 169,765 137,402 146,958 123,105

As at December 31, 2005 and 2004, the cost value before accumulated depreciation of plantand equipment which was fully depreciated but still in use of the Company and its subsidiaries, amountedto Baht 437.39 million and Baht 326.74 million, respectively.

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11. INTANGIBLE ASSETS - NET

Intangible assets-net as at December 31, consist of:

Thousand BahtConsolidated Software Leasehold Goodwill Total Total

development Goodwill Negativecosts goodwill

CostBeginning balance as at January 1, 2005 1,809 349,518 126,904 (2,063) 124,841 476,168Increase 170 11,038 – – – 11,208Exchange differences on

translation of the financialstatements of foreign subsidiaries – (4,107) – – – (4,107)

Ending balance as at December 31, 2005 1,979 356,449 126,904 (2,063) 124,841 483,269

Accumulated AmortizationBeginning balance as at January 1, 2005 177 173,666 126,904 (1,523) 125,381 299,224Written-off 341 19,079 – (206) (206) 19,214Exchange differences on

translation of the financialstatements of foreign subsidiaries – (1,613) – – – (1,613)

Ending balance as at December 31, 2005 518 191,132 126,904 (1,729) 125,175 316,825

Net Book ValueAs at January 1, 2005 1,632 175,852 – (540) (540) 176,944As at December 31, 2005 1,461 165,317 – (334) (334) 166,444

Thousand BahtThe Company Only Software Leasehold Goodwill Total Total

development Goodwill Negativecosts goodwill

CostBeginning balance as at January 1, 2005 1,809 277,738 126,904 (2,063) 124,841 404,388Increase 170 11,038 – – – 11,208Ending balance as at December 31, 2005 1,979 288,776 126,904 (2,063) 124,841 415,596

Accumulated AmortizationBeginning balance as at January 1, 2005 177 147,556 126,904 (1,523) 125,381 273,114Written-off 341 15,282 – (206) (206) 15,417Ending balance as at December 31, 2005 518 162,838 126,904 (1,729) 125,175 288,531

Net Book ValueAs at January 1, 2005 1,632 130,182 – (540) (540) 131,274As at December 31, 2005 1,461 125,938 – (334) (334) 127,065

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Amortization of intangible assets for the years ended December 31 2005 and 2004, includedin cost of sales and services and selling and administrative expenses and other incomes, consist of:

Thousand BahtConsolidated The Company Only

2005 2004 2005 2004

Selling and administrative expenses 19,420 18,083 15,623 14,839Other income (206) (206) (206) (206)Total 19,214 17,877 15,417 14,633

12. SHARE CAPITAL

On March 28, 2002, the Meeting of the Board of Directors passed a resolution on the pricingof new common shares for public offering in the amount of 10 million shares at par value of Baht 5each with the offer price of Baht 21. These common shares would be offered together with five yearwarrants to purchase common shares in the amount of five million units at Baht nil, having the conversionratio of two new shares to one unit of warrant and the exercise price of Baht 18 per share. Thesubscription period for those shares and warrants was during April 4-5, 2002. The meeting also determinedthat the warrants to buy common shares were to be offered to the existing shareholders as listed in theshare register as at October 10, 2001 in the amount of 30 million units in the proportion of two existingshares to one warrant and the exercise price was Baht 18 per share.

13. WARRANTS TO PURCHASE COMMON SHARES

On April 9, 2002, S&P Syndicate Public Company Limited issued warrants to purchase commonshares in the amount of 35 million units according to the resolution of the Meeting of the Board ofDirectors held on March 28, 2002. The details are as follows:

13.1 Offer Method

13.1.1 30 million units : To be offered to existing shareholders of the Company on theclosing date of share registration on October 10, 2001 at theratio of two existing shares to one warrant (Any fraction ofshares shall be disregarded.)

13.1.2 5 million units : To be offered to the public who subscribe to the new commonshares of the Company at the ratio of two newly issuedshares to one warrant (Any fraction of shares shall bedisregarded.)

13.2 Offer price per unit : Baht nil

13.3 Exercise Ratio : One warrant entitled to purchase one common share, subjectto adjustment of the exercise ratio.

13.4 Exercise Price : Baht 18 per share

13.5 Life of Warrants : Five years from the date of warrant issue

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13.6 Exercise Period : Every three months, within the last business day of March,June, September and December. The first exercise may bemade on the last business day of June 2003.

The Company has registered the warrants to purchase common shares with the Stock Exchangeof Thailand (“SET”) as listed securities and the SET approved such listing from May 10, 2002 onwards.

During the year 2004, warrants to purchase common shares were exercised for 3,077,300common shares at Baht 18 each, totalling Baht 55,391,400. The Company issued 3,077,300 commonshares for the capital increases intended for such warrants exercise at Baht 18 each. The capital increaseswere registered with the Ministry of Commerce as follows:

a. The increase in share capital of 228,000 common shares at Baht 18 each was registered onApril 19, 2004.

b. The increase in share capital of 78,900 common shares at Baht 18 each was registered onJuly 13, 2004.

c. The increase in share capital of 1,224,200 common shares at Baht 18 each was registeredon October 13, 2004.

d. The increase in share capital of 1,546,200 common shares at Baht 18 each was registeredon January 13, 2005.

During the year 2005, warrants to purchase common shares were exercised for 12,099,500common shares at Baht 18 each, totalling Baht 217,971,000. The Company issued 12,099,500 commonshares for the capital increases intended for such warrants exercise at Baht 18 each. The capital increaseswere registered with the Ministry of Commerce as follows:

a. The increase in share capital of 37,800 common shares at Baht 18 each was registered onApril 12, 2005.

b. The increase in share capital of 2,006,000 common shares at Baht 18 each was registeredon July 11, 2005.

c. The increase in share capital of 55,400 common shares at Baht 18 each was registered onOctober 11, 2005.

d. The increase in share capital of 10,000,300 common shares at Baht 18 each was registeredon January 9, 2006.

As at December 31, 2005 and 2004, the balance of unexercised warrants are 18,046,200 unitsand 30,145,700 units, respectively. One unit of warrant is entitled to purchase one common share.

As at December 31, 2005 and 2004, the Company was obligated to reserve 18,046,200 commonshares and 30,145,700 common shares, respectively, at Baht 18 each for the exercise of the remainingwarrants to purchase common shares.

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14. EARNINGS PER SHARE

Earnings per share as at December 31, 2005 and 2004 consist of:

Net profit Weighted average EarningsIn Thousand Baht number of per share

common shares BahtThousand Shares

2005 2004 2005 2004 2005 2004

Basic earnings per shareNet profit 203,601 183,227 75,941 72,304 2.68 2.53

Effect of conversion of all dilutivepotential common sharesWarrants 4,212 7,723

Diluted earnings per shareNet profit attributable to common shareholdersassuming the conversion into common shares 203,601 183,227 80,153 80,027 2.54 2.29

15. TRANSACTIONS WITH RELATED PARTIES

A portion of the Company’s business is represented by transactions with its related companies.The relationship may be by shareholding or the companies may have the same group of shareholdersor directors. Therefore, the financial statements reflect the effects of these transactions on the basisdetermined by the Company and related companies.

Transactions with related parties for the years are as follows:

Thousand BahtConsolidated The Company Only

2005 2004 2005 2004

SubsidiariesRental income from buildings and equipment – – 230 4,374Other income – – 180 400Interest income – – – 35Share of profits from investments recorded

by the equity method – – 27,834 18,206Purchases of goods/services – – 41,142 58,289

AssociatesRental income from buildings and equipment 788 1,102 788 1,102Other income 1,102 2,501 1,102 2,501Interest income – 17 – 17Share of profits from investments recorded

by the equity method 4,306 727 4,306 727Purchases of goods/services 14,135 11,646 14,135 11,646

Other Related PartiesRental income from buildings and equipment 2,832 2,952 2,832 2,952Directors’ remuneration 20,252 22,521 12,128 12,176

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Balances with related parties as at December 31, 2005 and 2004 are as follows:

Thousand BahtConsolidated The Company Only

2005 2004 2005 2004

Trade Accounts Receivable(Included in the trade accounts receivable)

Associates 136 227 136 227Other related companies 5,656 6,007 4,909 4,909

Total 5,792 6,234 5,045 5,136Less Allowance for doubtful accounts (4,909) (4,909) (4,909) (4,909)

Total Trade Accounts Receivable - Net 883 1,325 136 227

Short-term Loans to Related Parties (interest rate per annum)Subsidiaries

S&P Global Co., Ltd. (1.25% - 1.5%) – – 177 66Seriwat Foods Co., Ltd. (No interest rate) – – 5 10S&P Kitchen (SDN BHD) Malaysia (No interest rate) 1,785 2,758 – –Other company – 11 – 11

AssociatesUnion Sky S&P Ltd. (No interest rate) 5,655 5,655 5,655 5,655HD Distributors (Thailand) Co., Ltd. (No interest rate) 2,685 709 2,685 709Patara Developments SA (6%) (No interest rate) 3,125 5,173 – –

Related companyIntermezzo Restaurant Pte. Ltd. (No interest rate) – 137 – –PT Trinugraha Food Industry Co., Ltd. (No interest rate) 12,655 12,655 – –Other company 218 – – –

26,123 27,098 8,522 6,451Less Allowance for doubtful accounts (18,310) (18,310) (5,655) (5,655)

Total Short-Term Loans to Related Parties 7,813 8,788 2,867 796

Investments record by the Equity MethodSubsidiaries 235 241 170,830 193,990Associates 46,249 43,921 43,238 41,277

Total Investments Recorded by the Equity Method 46,484 44,162 214,068 235,267

On September 1, 2003, S&P Minor Food Company Limited requested a change for the repaymentcondition on a long-term loan from S&P Syndicate Public Company Limited, which had a remainingbalance at that date in the amount of Baht 2.10 million, from the former condition with quarterlyprincipal repayment not less than the amount of Baht 0.70 million to be changed to quarterly principalrepayment in the amount of Baht 0.35 million and the entire loan is to be repaid by December 31, 2004.

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Thousand BahtConsolidated The Company Only

2005 2004 2005 2004

Trade Accounts Payable(Included in trade accounts payable)

Subsidiaries – – 181 1,762Associates 4,000 2,437 3,921 2,437

Total 4,000 2,437 4,102 4,199

Short-term loans (interest rate per annum)Subsidiaries:

S&P Global Company Limited – – 71 10S&P Kitchen Company Limited (1.5%) – – 20 20Seriwat Foods Company Limited – – 17 17S&P Minor Food Co., Ltd. – – 24 42

AssociatesHD Distributors (Thailand) Company Limited 354 395 341 339

Total 354 395 473 428

Movements of short-term loans to related parties in the consolidated financial statements for theyear ended December 31, 2005:

In Thousand BahtAssociates Other related Total

parties

Balance as at December 31, 2004 3,604 23,494 27,098Increase during the year 21,220 1,413 22,633Decrease during the year (20,136) (3,472) (23,608)Balance as at December 31, 2005 4,688 21,435 26,123Less Allowance for doubtful account – (18,310) (18,310)Balances - net 4,688 3,125 7,813

Movements of short-term loans to related parties in the consolidated financial statements for theyear ended December 31, 2004:

In Thousand BahtAssociates Other related Total

parties

Balance as at December 31, 2003 9,587 20,832 30,419Increase during the year 26,786 6,685 33,471Decrease during the year (32,769) (4,023) (36,792)Balance as at December 31, 2004 3,604 23,494 27,098Less Allowance for doubtful account – (18,310) (18,310)Balances - net 3,604 5,184 8,788

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Movements of short-term loans to related parties in the Company’s financial statements for theyear ended December 31, 2005:

In Thousand BahtSubsidiaries Associates Other related Total

parties

Balance as at December 31, 2004 76 709 11 796Increase during the year 13,880 20,464 106 34,450Decrease during the year (13,774) (18,488) (117) (32,379)Balance as at December 31, 2005 182 2,685 – 2,867

Movements of short-term loans to related parties in the Company’s financial statements for theyear ended December 31, 2004:

In Thousand BahtSubsidiaries Associates Other related Total

parties

Balance as at December 31, 2003 5,189 3,064 99 8,352Increase during the year 41,381 22,598 880 64,859Decrease during the year (46,494) (24,953) (968) (72,415)Balance as at December 31, 2004 76 709 11 796

Movements of short-term borrowings from related parties in the consolidated financial statementsof the Company and subsidiaries for the year ended December 31, 2005:

In Thousand BahtAssociates Other related Total

parties

Balance as at December 31, 2004 395 – 395Increase during the year 4,084 – 4,084Decrease during the year (4,125) – (4,125)Balance as at December 31, 2005 354 – 354

Movements of short-term borrowings from related parties in the consolidated financial statementsof the Company and subsidiaries for the year ended December 31, 2004:

In Thousand BahtAssociates Other related Total

parties

Balance as at December 31, 2003 1,589 – 1,589Increase during the year 3,902 – 3,902Decrease during the year (5,096) – (5,096)Balance as at December 31, 2004 395 – 395

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Movements of short-term borrowings from related parties in the Company’s financial statementsfor the year ended December 31, 2005:

In Thousand BahtSubsidiaries Associates Total

Balance as at December 31, 2004 47 381 428Increase during the year 485 4,084 4,569Decrease during the year (399) (4,125) (4,524)Balance as at December 31, 2005 133 340 473

Movements of short-term borrowings from related parties in the Company’s financial statementsfor the year ended December 31, 2004:

In Thousand BahtSubsidiaries Associates Total

Balance as at December 31, 2003 643 1,576 2,219Increase during the year 6,959 3,902 10,861Decrease during the year (7,555) (5,097) (12,652)Balance as at December 31, 2004 47 381 428

16. LEGAL RESERVE

The legal reserve is an amount to be provided as a reserve fund as prescribed by law. TheCompany has to allocate not less than five percent of its annual profits less the accumulated lossesbrought forward (if any) to the reserve fund until this fund attains an amount not less than ten percentof the registered capital. The legal reserve may not be used for dividend payment.

17. APPROPRIATION OF EARNINGS AND DIVIDEND

On April 19, 2005, the Company’s Ordinary Shareholders’ Meeting unanimously approved adividend payment for 74,854,300 shares at Baht 1.50 per share totalling Baht 112,281,450 to be paidwithin May 9, 2005. Subsequently, on August 10, 2005, the Company’s Directors’ Meeting passed aresolution to pay interim dividend to shareholders of 76,898,100 shares, at Baht 0.50 per share totallingBaht 38,449,050. The payment was made within September 9, 2005.

On April 16, 2004, the Company’s Ordinary Shareholders’ Meeting unanimously approved adividend payment for 71,777,000 shares at Baht 1.90 per share, totalling Baht 136,376,300 to be paidwithin May 14, 2004. In addition, the meeting also approved the appropriation of legal reserve amountingto Baht 888,500. Subsequently, on August 11, 2004, the Company’s Directors’ Meeting passed a resolutionto pay interim dividend to shareholders of 72,083,900 shares, at Baht 0.50 per share totalling Baht36,041,950. The payment was made within September 9, 2004.

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18. DISCLOSURE OF FINANCIAL INSTRUMENTS

The Company presents and discloses financial instruments as follows:

18.1 Accounting Policies

Details of significant accounting policies are disclosed in Note 3.

18.2 Credit Risk

Credit risk refers to the risk that counterparts will default on its trading terms and conditionsresulting in collection to the Company. Concentrations of credit risk are limited since theCompany has adopted the policy of dealing with creditworthy counterparty as a mean ofmitigating the risk of financial losses from defaults.

In case of recognized financial assets in the balance sheet the carrying amounts of theassets recorded in the balance sheet represent the Company’s maximum exposure to creditrisk.

18.3 Interest Rate Risk

Interest rate risk arises from the potential for a change in interest rate to have an adverseeffect on the Company in the current reporting period and in future years. The Companydoes not expect to incur material incremental effect on its interest expenses because loanof the Company is insignificant amount.

18.4 Foreign Exchange Risk

Foreign exchange risk arises from the potential for a change in foreign exchange rate tohave an adverse effect on the Company in the current reporting period and in futureyears. The Company does not expect to incur material incremental effect on its financialassets or liabilities in foreign currency as the majority of its businesses are engaged in ThaiBaht.

18.5 Estimated Fair Value of Financial Instruments

Thai Accounting Standard No. 48 “Financial Instruments Disclosure and Presentation”requires certain fair value disclosures. Considerable judgement is necessarily required inestimation of fair value. Accordingly, the estimates presented herein are not necessarilyindicative of the amount that could be realized in a current market exchange.

The use of different market assumptions and/or estimation methodologies may have amaterial effect on the estimated fair value. The following methods and assumptions wereused by the Company in estimating fair value of financial instruments:

Cash and cash equivalents, current investments, trade accounts receivable, current portionof long-term loans to related parties, short-term loans to related parties, bank overdraftand short-term loans from financial institutions, trade accounts payable and short-termloans from related parties; the carrying values approximate their fair values due to therelatively short period to maturity.

Investment in related parties: fair value for investments are as disclosed in note 3.

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19. SEGMENT INFORMATION

The Company and its subsidiaries have been engaged in the food and bakery business. Allbusiness activities of the Company and its subsidiaries shall be classified by segments, based on revenuesand results of operations, for each of years ended December 31, 2005 and 2004 for the Company andits subsidiaries as follows:

For the year ended December 31, 2005:

Thousand BahtClassified by Geographical Areas Local Overseas Total

Revenues 2,775,485 639,627 3,415,112Net profit 179,330 24,271 203,601Assets 1,838,346 246,189 2,084,535

For the year ended December 31, 2004:

Thousand BahtClassified by Geographical Areas Local Overseas Total

Revenues 2,557,516 486,289 3,043,805Net profit 174,005 9,222 183,227Assets 1,531,186 217,703 1,748,889

20. ASSETS USED AS COLLATERAL

As at December 31, 2005 and 2004, cash at banks of the Company in the approximate amountof Baht 2.54 million was pledged as collateral against letters of guarantee from a bank for electricityusage (see Note 21).

As at December 31, 2005 and 2004, a fixed deposit of a subsidiary in the approximate amountof Baht 21.99 million and Baht 22.52 million, respectively has been used as collateral against loan froma financial institution of a foreign subsidiary company.

21. OBLIGATIONS AND CONTINGENT LIABILITIES

As at December 31, 2005 and 2004 the Company and its subsidiaries had obligations andcontingent liabilities as follows:

a. Commitments to pay rental under long-term lease contracts and hire purchase contracts asfollows:

Within 2 - 5 Over TotalCurrencies 1 Year Years 5 Years

2005 2004 2005 2004 2005 2004 2005 2004

Branch rental expenses Million Baht 133.60 124.40 203.38 151.62 35.00 44.87 371.98 320.89Million PoundSterling 0.38 0.38 1.46 1.54 1.23 1.53 3.07 3.45

Lease and hire-purchasevehicle expenses Million Baht 3.23 3.43 3.63 6.03 – – 6.86 9.46

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b. As at December 31, 2005 and 2004, the Company had outstanding capital commitmentsrelating to hire and purchase of materials for the construction of a new factory and branchesin the amount of Baht 63.84 million and Baht 48.34 million, respectively.

c. As at December 31, 2005 and 2004, an obligation under a letter of guarantee issued by thecommercial banks for electricity usage amounting to Baht 8.38 million and Baht 8.90 million,respectively (see Note 20).

d. Amounts of unutilized loan facilities are as follows:

In Million In Million In MillionBaht Pound Sterling US Dollars

2005 2004 2005 2004 2005 2004

Short-term loans 395 465 – 0.20 – –Bank overdrafts 91 91 0.40 0.25 – –Letters of guarantee 78 93 – – – –FOREX Line – – – – 5.30 5.30

Total 564 649 0.40 0.45 5.30 5.30

e. Commitment from guarantee for the credit facilities of a subsidiary company in the amountof Baht 1.50 million, for the years 2005 and 2004.

22. RECLASSIFICATIONS

Certain accounts in the financial statements for the year ended December 31, 2004 have beenreclassified to conform with the financial statement presentation for the year ended December 31, 2005.

23. APPROVAL OF THE FINANCIAL STATEMENTS

These financial statements have been approved by the authorized director of the Company onFebruary 17, 2006.

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GENERAL CORPORATE INFORMATIONAND OTHER REFERENCES

Company name S&P Syndicate Public Company Limited

Primary business Restaurant and bakery shop chain operator; producer of cakes, breads,baked goods, Thai desserts prepared frozen foods and bakery products;provider of home delivery and outside catering services; investor andoperator of Thai restaurants abroad.

Registered capital 525,000,000 Baht (Five hundred and twenty-five Million Baht),comprising 105 million ordinary shares with a par value of 5 Baht pershare.

Issued and paid-up capital 434,769,000 Baht (Four hundred and thirty-four million, seven hundredand sixty-nine thousand Baht)

Head Office 457-457/6 Sukhumvit 55 (Soi Thonglor), Sukhumvit Road, North KlongtanSub-District, Vadhana District, Bangkok 10110

Telephone (02) 381-3412-29

Facsimile (02) 381-2790

Homepage www.sandp.co.thwww.snpfood.com

Registrar Thailand Securities Depository CentreCAPITAL MARKET ACADEMY BUILDING2/7 Moo 4, (North Park Project) Vibhavadi-Rangsit RoadTung Song Hong, Laksi, Bangkok 10210 ThailandTelephone (02) 596-9000 Facsimile (02) 832-4994-6

Corporate auditors Deloitte Touche Tomasu Chaiyos Co., Ltd.Ratchanakarn Building, 25th Floor183 South Sathon Road, Yannawa Sub-district,Sathon District, Bangkok 10120Telephone (02) 670-5700 Facsimile (02) 676-5757Auditor in charge : Mr. Permsak JerajakwannaCertified Public Accountant, Registration Number 3427

Legal counsel Dr. Suvarn Valaisathien Law Office68 Soi 8, Sukhumvit Road, Klongtoey, Bangkok 10110Telephone (02) 253-3427 Facsimile (02) 653-1135