SAT SAT SAT SAT To Become an Auto Parts Manufacturing Leader in - - PowerPoint PPT Presentation

SAT SAT SAT SAT

To Become an Auto Parts Manufacturing Leader in ASEAN with Excellent Quality To Become an Auto Parts Manufacturing Leader in ASEAN with Excellent Quality

March March 2011 2011 March, March, 2011 2011

Agenda

I ndustry Overview Group Business p Performance Review Future Outlook Future Outlook Appendices

Rosy Picture as Strong Demand Recovery Rosy Picture as Strong Demand Recovery

Thailand auto industry

Million units 2.5

Production by type of vehicles

.9 1.1 1.2 1.3 1.4 1.0 1.6 1.8 2.0 2.2 2.4 2.5 0 9 1.0 1.2 1.3 1.4 1.5

1.5 2.0 2.5 3.0

30% 23% 4% 21%

1.0 1.5 2.0 Production 13%/Domestic 5%/Export 30%

CAGR (1997-2008)

0.4 0.2 0.3 0.4 0.5 0.6 0.8 1 0.4 0.1 0.2 0.3 0.3 0.4 0.5 0.6 0.7 0.7 0.6 0.6 0.5 0.8 0.8 0.9 0.9 1.0 1.1 0.0 0.1 0.1 0.2 0.2 0.2 0.2 0.3 0.4 0.5 0.7 0.8 0.5 0.9 1.0

0.0 0.5 1.0 1997 1998 1999 2000 2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 011F 012F 013F 014F 015F

65% 54%

0.0 0.5 1.0 2010A 2011F 2012F 2013F 2014F 2015F

• According to FTI, Thailand produced 1.6m

vehicles in 2010 from total capacity of 2.1m units (Industry utilization ~ 76% )

1 1 1 2 2 2 2 2 2 2 2 2 2 2 20 20 20 20 20

CAGR (2011 – 15F)

PU&PPV PC Eco car Others

Automotive I ndustry

Annual Growth 2010

• Thailand Automotive Institute projects that the

production will reach 2.5m units in 2015, driven by pick up and eco car

• Eco cars are expected to increase its stake to

Domestic 9% 6% Production 65% 46%

Eco cars are expected to increase its stake to ~ 21% of entire market in 2014 at the major expense of passenger cars

Export 10%

63 %

67%

3

Source: FTI: The Federation of Thai Industries and SAT estimates (2011 - 15)

New Cars Market in Thailand for 2010 and beyond beyond

Brand 2010 2011 2012 2013 2014 I

D-Max(RT50-

Isuzu

D-Max2/ D-Max(RT50)

( SUV => to replace MU-7)

Honda

Jazz1/City1/ Accord1/ Eco car(2CV)/ Civic(2HC) Jazz-Hybrid3/ CR-V Accord Jazz / City

Toyota

Vios1/Yaris2/ Vigo2 Prius-hybrid/ Corolla1, Camry Yaris3/Eco car3 Corolla Hilux (IMV2)

Mitsubishi LancerEX/Triton

(special edition)

None Eco-Car Triton

(special edition)

Nissan

March(Eco

car)/Navara1/

Venette(NV200) March(sedan)/ Qasana3 New compact sedan (to replace

Tida Latio)

Navara

Mazda

Mazda2(sedan), Mazda31 Mazda3/ BT50(T6)

Ford

Fiesta(B229), Focus1 Ranger(T6)/ Escape1/ Focus/Everest

(Escape discontinued)

p

discontinued)

Chevrolet Cruze(J300)

Colorado(GMI700) Colorado (SUV) /Aveo(T300)

Suzuki

Swift/SX43 Eco car

4

Suzuki

Swift/SX4 Eco car

Note : 1 - minor change 2 - nano change 3 - not confirmed

2010 Production and Sales 2010 Production and Sales

Isuzu 11% Nissan 11% Honda Nissan 7% Honda 14% Isuzu 8% Honda 14% MMth AAT 12% 11% Honda 10% Other 6% AAT 2% Isuzu 19% 14% Other 15% MMth AAT 12% 8% 14% Nissan 7% Other 5% Toyota 38% 12% Toyota 38% MMth 5% 2% Toyota 37% 17%

554 387 24,152

1,400,000 1,600,000 1,800,000

Units

1,066,765 554,387 359,032 216,937 49,931

400 000 600,000 800,000 1,000,000 1,200,000 1,400,000

(65% ) (34% ) (45% ) (24% )

391,394 678,918

200,000 400,000 Production Dom Sales Exp Sales

Other Passenger Car Pickup & PPV

(49%) (76%) (45% )

5

Other Passenger Car Pickup & PPV

Source: TAIA (The Thai Automotive Industry Association)

2009-2010 Production Trend b

T d B d

2009-2010 Production Trend by Type and Brand

Pick Up & PPV Passenger

50,000

Pick Up & PPV

22,500 25,000

Passenger

unit unit

30,000 40,000

15,000 17,500 20,000

20,000

10,000 12,500

10,000

2,500 5,000 7,500

Isuzu (Isuzu&GM) Toyota Mitsubishi Nissan AAT Other

Toyota Mitsubishi Nissan AAT Other Honda

6

Nissan AAT Other

AAT Other Honda

2009-2010 Domestic Trend b

T d B d

2009-2010 Domestic Trend by Type and Brand

Pick Up & PPV Passenger

17,500 20,000

Pick Up & PPV

17,500 20,000

Passenger

unit unit

12,500 15,000 12,500 15,000 7,500 10,000 7,500 10,000 2,500 5,000 2,500 5,000

Isuzu (Isuzu&GM) Toyota Mitsubishi Nissan AAT Other Toyota Mitsubishi Nissan AAT Other Honda

7

2009-2010 Export Trend b

T d B d

2009-2010 Export Trend by Type and Brand

Pick Up & PPV Passenger

25,000 30,000

Pick Up & PPV

7,000 8,000

Passenger

unit unit

20,000 25,000 5,000 6,000 10,000 15,000 3,000 4,000 5,000 1,000 2,000

Isuzu (Isuzu&GM) Toyota Mitsubishi Nissan AAT Toyota Mitsubishi Nissan

8

AAT Other Honda

2008-2010 Export Destinations 2008-2010 Export Destinations

13% 7% 7% 9% 9% 9% 8% 10% 9% 11% 11% 10% 8% 12% 7% 6% 7% 7% 8% 7% 4% 4% 4% 5% 3% 4% 7% 7%

100%

Europe Africa

775,652 535,596 58,525 74,063

Units

57,139 75,075 84,097 69,279 87,650 77,750 81,320 80,569 79,618 71,025

27% 31% 27% 26% 28% 34% 3 32% 35% 21% 27% 21% 20% 21% 22% 17% 18% 20% 20% 24% 18% 18% 20% 12% 7% 6% 12% 13% 11% 11% 12% 14% 16% 11% 12% 12% 11% 13% 7% 7% 9% 9% 9% 11% 8% 12%

50% 75%

Middle East Central & S.America Europe

24% 27% 28% 26% 24% 25% 32% 23% 21% 17% 18% 24% 20% 21% 24% 27% 27% 25% 26% 34% 31% 31% 32% 32% 35% 29%

0% 25% 2008 2009 J 10 F b10 M 10 A 10 M 10 J 10 J l 10 A 10 S 10 O t 10 N 10 D 10

Aus, NZ & Oceania Asia 20 000 24,000

2008 2009 Jan10 Feb10 Mar10 Apr10 May10 June10 July10 Aug10 Sep-10 Oct-10 Nov-10 Dec-10

Pick Up & PPV

20,000 24,000

Passenger

8,000 12,000 16,000 20,000 8,000 12,000 16,000 20,000 4,000

Jan10 Feb Mar Apr May June July Aug Sep Oct Nov Dec

Asia Aus, NZ, Oceania Middle East

4,000

Jan10 Feb Mar Apr May June July Aug Sep Oct Nov Dec

Asia Aus, NZ, Oceania Middle East

9

Africa Europe C & N. America Source: TAIA (The Thai Automotive Industry Association) Africa Europe C & N. America

1M2011 Car Production and Sales 1M2011 Car Production and Sales

Jan-11 % y-y Production

146 234 40 8%

Production

146,234 40.8%

Domestic Sales

68,398 38.0%

Export

68,082 16.3%

Production Domestic Export PC Pick Up & PPV Production Sales Export PC Pick Up & PPV Toyota

52,347 27,747 20,244 18,907 33,440

I suzu/ GM

14,889 12,346 5,819

• 17,761

Mitsubishi

17,939 4,493 12,989 701 17,238

Honda

15,079 9,772 4,356 15,079

• ,

, , ,

Nissan

18,738 4,524 11,574 11,009 7,729

AAT (Ford&Mazda)

10,392 4,948 12,640 8,496 10,392

Others

16,850 4,568 460 2,473 590

Asia, 35.48% Middle East 19 25% Africa, 6.09% Europe, 9.94% Central & South America, 9.79%

Export Destination

Australia,NZ & Other Oceania, 19.45% Middle East, 19.25%

10

Agenda

I ndustry Overview Group Business Group Business Performance Review Future Outlook Future Outlook Appendices

Market Share: Axle Shaft & Coil Spring

Rear Axle Shaft Y10 = 85 %

Customer Model

T t F t Vi

a e S a e e S a & Co Sp g

SAT 87%

Market share FY’11E

Toyota Fortuner, Vigo Mitsubishi Triton, 3E45, AAT (Mazda & Ford) BT-50, Ranger,New T6 Isuzu D-Max , MU-7

87%

FY 11E

Customer Model

Pickup car

Mitsubishi Lancer, New LancerEx,Space Wagon Toyota Camry Honda Jazz, City, Accord Nissan New Teana , March

Coil Spring Y10 = 36 %

BSK 38%

Customer Model

Passenger car

Market share FY’11E

Toyota Fortuner, Vigo Mitsubishi Triton, 3E45

Pickup car

12 12

Pickup car

M k t Sh L f S i & St bili B

Customer Model

Mitsubishi Triton

Market Share: Leaf Spring & Stabilizer Bar

Leaf Spring Y10 = 14%

Mitsubishi Triton

Customer Model

Hi B

Pickup car

BSK 11%

Market share FY’11E

Hino Bus Mitsubishi Fuso Truck Trucks

Commercial car

11%

FY 11E

Customer Model

Mitsubishi Lancer, Space Wagon Honda Jazz/City / Accord Toyota Collora

Stabilizer Bar Y10 = 37%

Toyota Collora

Customer Model

Passenger car

BSK 33%

Market share FY’11E

Toyota Fortuner, Vigo Mitsubishi Triton, 3E45 Nissan LCV , Navara

Pickup car

33%

13 13

Pickup car

Market Share: Disc Brake & Drum Brake

Customer Model

Disc Brake Y10 = 27%

Honda Jazz/City, Civic, Accord, CR-V ,Eco Mitsubishi Space Wagon

Customer Model

Passenger car

SBM 25%

Market share FY’11E

Customer Model

Mitsubishi Triton, 3E45

C t M d l

Pickup car

25%

FY 11E

Customer Model Customer Model

Honda City, Eco

Passenger car

Drum Brake Y10 = 25 %

Customer Model

Mitsubishi Triton, 3E45 Isuzu D-Max, MU-7

Pickup car

SBM

Market share FY’11

Customer Model

Mitsubishi Fuso Truck Trucks

Commercial car p

32%

FY 11

14 14

Commercial car

Market Share: Exhaust Manifold Market Share: Exhaust Manifold

Customer Model

Exhaust Manifold Y10 = 17%

Mitsubishi Lancer

Passenger car

SBM

Customer Model

Mitsubishi Triton, 3E45

SBM 10%

Market share FY’11E

AAT BT-50, Ranger

Pickup car

15 15

Capacity and Utilization Rate

Production Volume (Per Month)

2009A 2010A 2011F 2012F

Capacity Utilization Capacity Utilization Capacity Utilization Capacity Utilization

Capacity and Utilization Rate

(Per Month)

(pcs) (%) (pcs) (%) (pcs) (%) (pcs) (%)

Axle Shaft (incl. Kubota)

240,000 56% 240,000 90% 240,000 95%

320,000

85%

Disc Brake

109,000 68% 121,000 90%

173,000

71% 173,000 84%

D B k

95 000 68% 95 000 90%

107 000

70% 107 000 70% M a

F

• rgi

Drum Brake

95,000 68% 95,000 90%

107,000

70% 107,000 70%

Exhaust Manifold

46,000 65% 47,000 85% 47,000 70% 47,000 77%

Fly Wheel

8,000 65% 8,000 95%

12,400

85% 12,400 95%

K b M hi i

c h I n i n

Kubota Machining

36,000 98% 86,000 70% 86,000 77% 86,000 85%

Kubota Blade

396,000 25% 396,000 79% 396,000 86%

Coil Spring

255,000 40% 255,000 62% 255,000 80%

445,000

65% n g S p r

Stabilizer Bar

100,000 46% 100,000 73% 100,000 90%

180,000

66%

Leaf Spring (tons)

1,500 55% 1,500 75% 1,500 83% 1,500 89%

Weighted Utilization rate

60% 80% 85% 75%

I n g Note : Full Capacity= 500 hrs./month

g

16

Agenda

I ndustry Overview Group Business Group Business Performance Review F t O tl k Future Outlook Appendices

2010 Highlight 2010 Highlight

4Q10

Sales e e in pt end b t G oss Ma gin as h t b highe RM p ice

• 4Q10 – Sales were in uptrend but Gross Margin was hurt by higher RM price,

price corporation, and outsourcing

• 2010 - Remarkable recovery performance : Sales grew by 46% y-o-y from both

Auto and Non-Auto markets and, then Net Profit was expanded by 146% y-o-y

Operation & Business

• Solid financial position : DER < 1.0X
• To resume the dividend payment by 0.90 Bt./sh

(1H10= 0.40 Bt./sh, 2H10 = 0.50 Bt./sh)

• Lower cost of fund by getting lower interest rate from refinancing
• Capital Increase by 40 Mil. Shares or 676 mil Bt.

Corporate & Finance

• Total sales expect to grow by 12-15% y-o-y supported by increasing orders from

auto sector customers and expansion of non auto customer auto-sector customers and expansion of non-auto customer.

• Gross margin would be maintained at high level (~ 20% ) by to minimize
• utsourcing volume, timely price adjustment, effective cost control
• Incremental capacity on Drum Brake, Disc Brake, and Fly wheel

2011 Outlook

18

2010 Financial Highlights 2010 Financial Highlights

Unit : Bt.mn

2009 2010 YoY 2009 2010 YoY

Sales 4,295 6,263 46% Total Revenue 4,348 6,416 48% GP 767 1,241 62%

Impressive sales growth driven by recovery market both domestic and export

SG&A 351 426 21% EBITDA 913 1407 54% Net Profit 314 771 146% T l A 6 192 8 077 30% Total Assets 6,192 8,077 30%

• Int. Bearing Debt

2,347 2,425 3% Total Liabilities 3,324 3,902 17% Equity 2 868 4 175 46% Equity 2,868 4,175 46% Interest Exp. 114 111

• 3%

Depreciation 434 438 1% CAPEX 517 1084 109%

Big increase due to capital increase ~ 676 Mil.Bt.

CAPEX 517 1084 109%

Effective Tax Rate

14% 13%

19

2010 Key Financial Ratio 2010 Key Financial Ratio

2009 2010

% GPM 17.86 19.82 % NPM 7.23 12.32

Improved gross profit margin mainly resulted from sales recovery

% ROA 5.01 11.90 % ROFA 17.74 25.4 EBITDA/CAPEX (x) 1.69 1.54 % ROE 11.58 23.38 % ROCE 10.44 17.62 % ROIC 8.54 17.28

Int.Bearing Debt/Equity (x)

0.82 0.58 DER (x) 1.16 0.94 Interest Coverage (x) 7.98 12.71

Solid financial position mainly due to 1) performance improving 2) Increasing of Equity portion

g ( ) EPS (bt) 1.05 2.27 BVPS (bt) 9.56 12.28

2) Increasing of Equity portion 20

4Q10 Financial Highlights 4Q10 Financial Highlights

Unit : Bt.mn

4Q09

3Q10

4Q10 YoY QoQ

Sales 1,406 1,631 1,677 19% 3% Total Revenue 1,416 1,690 1,720 21% 2% G 32 326 30 % %

Sales growth in both y-y and q-q

A drop of Gross Profit mainly due to

GP 321 326 304

• 5%
• 7%

SG&A 86 103 127 48% 24% EBITDA 375 402 310

• 17%
• 23%

Net Profit 191 214 177 7% 17%

A drop of Gross Profit mainly due to

• More outsourcing
• Higher RM price
• More competitions in term of Price

corporation

Net Profit 191 214 177

• 7%
• 17%

Total Assets 6,192 7,734 8,077 30% 4%

• Int. Bearing Debt

2,347 2,393 2,425 3% 1% Total Liabilities 3,324 3,737 3,902 17% 4% Total Liabilities 3,324 3,737 3,902 17% 4% Equity 2,868 4,001 4,175 46% 4% Interest Exp. 27 37 21

• 22%
• 43%

Depreciation 119 121 90

• 25%
• 26%

Decreasing of interest expense stem from better cost of fund from refinancing since Sep 2010

p 119 CAPEX 174 182 213 22% 17%

Effective Tax Rate

17% 13% 11%

21

4Q10 Key Financial Ratio 4Q10 Key Financial Ratio

4Q09 3Q10 4Q10

% GPM 22.84 19.98 18.10 % NPM 13.38 12.66 10.53

Margin Squeezed by lagging of price adjustment and outsourcing

% ROA 12.14 11.82 10.59 % ROFA 29.36 30.09 26.37 EBITDA/CAPEX (x) 2.20 2.21 1.46 % ROE 28.08 23.62 17.3 % ROCE 22.28 20.78 15.66 % ROIC 17.34 18.74 13.67 17.34 18.74 13.67

Int.Bearing Debt/Equity (x)

0.82 0.6 0.97 DER (x) 1.16 0.93 1.22 Interest Coverage (x) 13.01 7.39 15.63

There was dilution effect from

g ( ) 13.01 7.39 15.63 EPS (bt) 0.64 0.63 0.52 BVPS (bt) 9.56 11.77 12.28

increasing no. of shares 22

Sales Breakdown Sales Breakdown

Domestic 97% OEM 94% P/U & PPV Parts

15% 100%

97% 94%

Others

n 1,439 939 815 1,406 92% 1,136 1,511 1,444 1,631 1,655

4% 8% 6% 7% 7% 7% 8% 8% 8% 8% 8% 25% 23% 26% 24% 25% 15% 25% 23% 28% 75%

St bili B Coil Spring Others

(i.e. Big Hub, Bracket, Timing Cover, Camshaft)

Bt.mn

12% 12% 11% 10% 10% 13% 9% 10% 9% 4% 4% 3% 3% 4% 3% 4% 4% 4% 4% 3% 3% 3% 3% 4% 4% 4% 3% 7% 7% 8% 8% 8% 8% 9% 7% 8% 50%

Disc & Drum Brake Exhaust Manifold Fly Wheel (+ Comp) Stabilizer Bar

14% 13% 10% 11% 9% 14% 9% 9% 8% 25%

Axle Shaft Leaf Spring

29% 30% 32% 33% 33% 35% 33% 33% 33% 0%

Axle Shaft

23

4Q08 1Q09 2Q09 3Q09 4Q09 1Q10 2Q10 3Q10 4Q10

Customer Base Customer Base

100%

939 1,439 815 1,406 1,136 1,511 1,444 1,631 1,655

10% 6% 4% 7% 5% 7% 5% 3% 25% 22% 19% 22% 11% 11% 21% 24% 22%

75%

Others

Bt.mn

K b t

8% 8% 8% 7% 7% 7% 5% 5% 7% 7% 8% 7% 7% 8% 8% 7% 7% 6% 9% 9% 8% 10% 4% 4% 4% 4% 7% 5% 3% 4% 7%

75%

Honda I suzu AAT Kubota

23% 25% 27% 26% 27% 26% 26% 27% 26% 8% 9% 8%

50%

Toyota

32% 25% 21% 23% 32% 37% 31% 29% 29%

25%

Mitsubishi

21% 23%

0% 4Q08 1Q09 2Q09 3Q09 4Q09 1Q10 2Q10 3Q10 4Q10

24

Agenda

I ndustry Overview Group Business Group Business Performance Review F t O tl k Future Outlook Appendices

Eco-car Projects’ orders summary Eco-car Projects orders summary

Car Makers

OEM Update SBG’s Order Progress p g

Nissan

• Platform of 2009 Nissan March/

Micra

• Launching ~ Mar 2010
• Also export to Japan
• Front & Rear Coil Spring on both 4

&5 door models (exclusively)

• 50,000 car production expected in

the 1st yr, and double in the 2nd yr l h

• Di

B k

Honda

• To launch ~ Mar 2011
• Disc Brake
• Drum Brake

Toyota

• Project will go earlier than original
• plan. Lunching year ~ 1Q2012
• None
• To launch in 2012
• Drum brake Coil Spring Stabilizer

Mitsubishi

• To launch in 2012
• Drum brake, Coil Spring, Stabilizer

Bar, Flywheel

Suzuki

• 412-rai Land purchased at Hemraj

Industrial Park, Rayong

• Factory construction on process
• Drum Brake
• 10 000 car production expected in

Suzuki

• Factory construction on process
• Launching year postponed from

2010 to ~ Mar 2012

• 10,000 car production expected in

the 1st yr

26

Future Outlook Future Outlook

• 2011 ~ 2,050 Mil Bt. : Auto 1,676 Mil.Bt. / Non-Auto 373 Mil.Bt.
• 2012 ~ 315 Mil Bt. : Auto 315 Mil. Bt.
• 2013 ~ 24 Mil Bt : Auto 24 Mil. Bt.

CAPEX Plan

• To Keep up market share
• To penetrate new markets in order to expand customer base and sales

growth

• Sales forecast for 2011 – 2013 is 12% - 15% on average, based on ~ 10%

growth in Auto Sector and ~ 25% growth in Non-Auto Sector assumption.

Growth Prospect & Strategies SBG’ R&D SBG’s R&D Center

27

Agenda

I ndustry Overview Group Business Group Business Performance Review F t O tl k Future Outlook Appendices

Group Development Group Development

• A well established and reputable vehicle parts manufacturer, with

concentration on the OEM market concentration on the OEM market.

• The Group started its automotive parts manufacturing business in 1962,

and is considered as one of Thai pioneers in the business.

1962

Establishmen t of Somboon

1975 Establishment

• f Somboon

M ll bl I 1977 Establishment

• f Bangkok

Spring Industrial ( S ) 1995 Establishment

• f Somboon

Advance 2002 Start to supply 2004 Group 2005 Listed on SET 2007 Acquired ICP by 100% 2010 SAT increase ~ 40 mil.shrs to strengthen

t of Somboon

Spring Ltd Malleable Iron (SBM) (BSK) Began to move into OEM Market Advance Technology (SAT) pp y TOYOTA p Structuring Listed on SET by 100% shareholder g balance sheet for group’s future prospect

29

Group Structure and Business Group Structure and Business

Somboon Holding 25.50% Kittapanich Family 24.71%

SAT

Kittapanich Family 24.71% Thailand Equity Fund 3.68% Others 46.12%

(Paid Up (340 mb)

100% 100% 100%

SBM

(Paid Up 160 mb)

BSK

(Paid Up 130 mb)

I CP

(Paid Up 785 mb)

Tsuchiyoshi Somboon Coated Sand

(Paid Up 72 mb)

Yamada Somboon

(Paid Up 150 mb)

Nishinbo Somboon Automotive

21.25% 20.00% 2.90%

Sales ~ 231 mb, TA~ 225mb, GPM 12.1% , NPM 2.6% Sales ~ 2,150 mb, TA~ 1,697 mb, GPM 17.5% , NPM 5%

• Steering Column Assembly
• Water Pump Assembly
• Oil Pump
• Casting

(Rasin/Sand)

Nishinbo Somboon Automotive

(Paid Up 732.6 mb)

Somboon Somic Manufacturing

(Paid Up 300 mb)

1.80%

Sales ~ 1,851 mb, TA~ 1,703 mb, GPM 23.8% , NPM 16.7%

• Ball Jointed
• Tie Rod End
• Outer Track Rod
• Brake System

30

( p )

Sales ~ 1,972 mb, TA~ 1,259 mb, GPM 18.4% , NPM 9.8%• Stabilizer Linkage

Certificates and Awards Certificates and Awards

• Group Company has been receiving many awards and accreditations of its unique

developing and its production quality being rate as one of the finest in Supplier List developing and its production quality-being rate as one of the finest in Supplier List.

• Proven performance since inception in 1972 i.e., QCD grading, Quality Award by MMth

(zero defect), TPS (Toyota Production System), QCC award & network by HINO

• ISO 9002, QS 9000, ISO 14001, ISO/TS 16949 (OEMs required)
• ISO 9002, QS 9000, ISO 14001, ISO/TS 16949 (OEMs required)

Q M C

SBG SBG

C

SBG SBG

D E

31

Parts for Kubota: Tractor Parts for Kubota: Tractor

Valve & Push Rod (Engine Part-Forging) Case Front Gear (RH & LH) Case Bevel Gear Case Brake

Body Part & Power train part (Casting & Machining)

Case Rear Axle (RH & LH) Case Front Axle Holder Front (RH & LH) Cover Front Axle Case Diff (Rear) Diff Case Cover Diff Case (Front) Diff Case Bearing (RH & LH) Holder Bearing Clutch Bearing Case (RH & LH) ld i

Diff Case (Front) Assy

Holder Bearing Drive Case

Power train part (Assy)

Diff Case (Rear) Assy Axle Front Assy (35HP & 45HP)

Rotary Blade (Forging) Axle Shaft (Forging&Machining) 32

Axle Rear Assy (35HP & 45HP)

Parts for Kubota: Harvest Machine Parts for Kubota: Harvest Machine

33

Siam Kubota Tractor Co Ltd (SKT) Siam Kubota Tractor Co., Ltd (SKT)

Kubota Corporation, Japan Marubeni Corporation, Japan

51% 4.74% 60%

Siam Cement Plc. (SCC) p , p p , p Min Sen Machinery Co.,Ltd

40% 4.26% 40%

Sales ~ 338,000 mb, TA~ …. mb, NPM 6.8%

Siam Kubota Industry Co., Ltd (SKI)

(since 1978, paid up … mb)

Siam Kubota Tractor Co., Ltd (SKT)

(since 2007, paid up 900 mb)

• Trading
• Leasing
• Manufacturing

Estimated Mass Run ~ 1Q09 with volume planned Estimated Mass Run ~ 1Q09 with volume planned ~ 25,000 units per annum

Harvest Machine

Si K b t C Ltd (SKC)

• n M&A process

34

Siam Kubota Corp., Ltd (SKC)

Questions and Answers

Thank You Thank You Thank You Thank You

Somboon Advance Technology Public Company Limited –I nvestor Relations Department

Tel + 66 2 728 8596 Fax + 66 2 728 8513 Email: ir@somboon co th http://www satpcl co th

• Tel. + 66 2 728-8596, Fax. + 66 2 728-8513, Email: ir@somboon.co.th, http://www.satpcl.co.th