Sri Tr Tran ang Agro-Indu Industry stry Public lic Co Comp - - PowerPoint PPT Presentation

Th The e 2020 2020 Annua ual l Ge Gener eral al Mee eeti ting g of Shar areho eholde lders rs 23 Ju June e 2020 Sri Tr Tran ang Agro-Indu Industry stry Public lic Co Comp mpan any Li Limi mite ted

1

The Voting Card’s Example

2

The Voting Card’s Example

3

Votin ting g Pr Procedu dures es except pt age gend nda rega gardin ding g the he election tion of f direc ectors tors

All shareho reholders ders / t their ir proxies xies di disapp ppro rove ve or abstai tain n in in such h agend nda Mark k their ir votes es in in the voting ing cards, ds, sig ign and d rais ise e hand d up Offic icers ers collec ect t your r voting ing cards ds Proce cessing ssing. Inform

• rm the result

ult to the Sharehol eholder ders s Meeting ing Sig ign the approve rove voting ing cards, ds, offi fice cers rs wil ill collect ct when the meeting ing fin inish ish

4

Votin ting g Pr Procedu dures es fo for the he age gend nda a rega gardin ding g the he election tion of f direc ecto tors

All sharehol reholders ders / th their ir proxies xies Mark k their ir votes es in in the voting ing cards ds and d sig ign Offic icers ers collec ect t your r voting ing cards ds Proce cessing ssing Inform

• rm the result

ult to the Sharehol eholde ders rs Meeting ing

5

Agen enda da ite tems ms

• 1. To consider and certify the Minutes of the Extraordinary General

Meeting of Shareholders No.1/2019 held on 6 November 2019

• 2. To acknowledge the performance results of the Board of

Directors of the Company for the year 2019 and to consider and approve the audited financial statements of the Company for the year ended 31 December 2019

• 3. To acknowledge the interim dividend payment from the

Company's performance for the year 2019

6

Agen enda da ite tems ms

• 4. To consider and approve the election of directors to replace

the directors who retire by rotation

• 5. To consider and approve the determination of remuneration of

directors for the year 2020

• 6. To consider and approve the appointment of the auditor and

determination of auditing fee for the year 2020

• 7. Other matters (if any)

7

Agen enda da 1

To consider and certify the Minutes of the Extraordinary General Meeting of Shareholders No.1/2019 held on 6 November 2019

A copy of the Minutes of the Extraordinary General Meeting of Shareholders No.1/2019 held on 6 November 2019 is enclosed with the Invitation letter and disseminated on the Company’s website www.sritranggroup.com

8

Agen enda da 2

To acknowledge the performance results of the Board of Directors of the Company for the year 2019 and to consider and approve the audited financial statements of the Company for the year ended 31 December 2019

The Company regularly discloses MD&A through the SET system after the release of financial statements.

9

Agen enda da 2

Rev evenue ue and d NR Sales les Volume ume

1,119,9 9,966 66 1,494,09 4,094 4 1,323,87 3,873 3 1,330,84 0,849 9 1,103,9 3,934 34 61,292 92 77,266 66 89,387 87 73,136 36 60,286 86 20,000 40,000 60,000 80,000 100,00 ,000

500,000 500,000 1,000,000 1,000,000 1,500,000 1,500,000 2,000,000 2,000,000 2015 2015 2016 2016 2017 2017 2018 2018 2019 2019

Sale les Vo s Volume me of

• f Natural

ral Rubb Rubber r Pro roducts (LHS LHS) Sale les R s Reve venue nue (RHS RHS)

(THB milli lion) n)

(tons) s)

• 17.6%
• 17.1%

50,0 ,008 39,0 ,020 6,81 816 6,117

4,367 67 2,907 07

11,7 ,788 12,1 ,195

157 7 48 48

FY1 FY18 FY1 FY19

Others thers Glov Gloves LTX TX RSS TS TSR

2019 019 Sales les Rev evenue ue by Product

• duct

2019 019 Sa Sales les Revenue evenue Po Port rtio ion by Pr Produ

• duct

ct [THB million]

n]

Agen enda da 2

TSR TSR 65% 65%

RSS 10% 10% LTX 5% 5%

Glove ves 20% 20%

60 60,28 286

• mil. THB

60,28 286 73,136 136

222,583 583 232,638 638 647,455 455 446,491 491 339,097 097 325,144 144

55,022 022 53,522 522

64,861 45,093

1,832 1,046

FY1 FY18 FY1 FY19

Others hers Eur urope

• pe

Ame meri rica Asi sia ( (Excul uldi ding ng Chi China&Thaila hailand) nd) Chi China Domest Domestic

Thailand 21%

China 40%

Asia (Exculding China&Thailand) 30%

America 5% Europe 4%

Agen enda da 2

201 019NR Sale les s Volume b ume by y Region

• n

Sale les s Volume ume by Region

• n [tons]

ns]

Technically Specified Rubber [TSR] Ribbed Smoked Sheet [RSS] Concentrated Latex [LTX]

1.1 1.1

• mil. tons

ns

1,103,9 03,934 34 1,330,8 30,849 49

Dome mestic stic 9% 9%

China na 10% 10%

Asia ia (Excu xculdin lding China&Tha na&Thaila land) nd) 22% 22% USA 28% 28% Europe pe 24% 24%

Others 7% 7%

Agen enda da 2

Sale les s Volume ume of Late tex x Glove ves s & Nitrile le Glove ves s Porti rtion

• n

Nitrile ile Powder-Fre ree Examina inatio ion n Glove ve Latex Powder der-Fre ree Examina inatio ion n Glove Latex Powder der Examina inatio ion n Glove

201 019 Gloves ves Sales ales Volume ume by Region

• n

19,913 19,913

mil.

• l. piec

eces es

Latex x Gloves 67% 67%

Nitri rile le Glove ves 33% 33%

Sale les s Volume ume of OEM & Own-Bra Brand nd Port rtion

• n

OEM 89% 89%

Own-Bra rand nd 11% 11%

Key Factors Affecting the Company’s Operation

1. . Volatility latility of Natural tural Rubbe bber r Price ice

• 2. Foreig

reign n Exchange change Rate ate

• 3. Financial

nancial Cost

• sts

4.

• 4. Gove
• vernme

nment nt Polic icy

Agen enda da 2

• In 1H2019, prices of TSR20 on SICOM moved up 16.5% because of supply

concerns following the decision by members of the International Tripartite Rubber Council (ITRC), namely, Thailand, Indonesia and Malaysia, to implement the Agreed Export Tonnage Scheme (AETS) together with the fungal disease that afflicted rubber trees on the Sumatra Island in Indonesia also cut down supply and led to speculation in the futures markets. The average ge price of TSR20 20 on SICO COM during g the first half of 2019 19 was 145 45.5 .5 cent/kg. kg.

Factor tor 1 : 1 : Volatility tility of Na Natural ral Rubber bber Price ce

• In 2H2019, NR prices went down alongside prices of other commodities due to outflow
• f funds from the futures markets. The price of TSR20

20 on SICOM reached hed the bottom

• m in

late Septembe ber r at 124. 4.4 4 cent/kg kg and in the secon

• nd half of 201

019 9 was 135. 5.8 8 cent/kg. kg.

• The average

ge price of TSR20 20 on SICO COM M for 2019 19 was 140 40.6 .6 cent/kg kg, up 3.0% from 2018. But NR prices experienced more volatility during 2019 than in 2018, which became the main factor affecting our profitability in both natural rubber and glove businesses

Agen enda da 2

100 120 140 160 180 200 220

Jan-1

• 18

Fe Feb-1 b-18 Ma Mar-18 Apr-18 pr-18 Ma May-18 y-18 Jun- un-18 Jul-18 ul-18 Aug-1 ug-18 Sep- p-18 Oct-1

• 18

Nov-1 Nov-18 De Dec-18 Jan-1

• 19

Fe Feb-1 b-19 Ma Mar-19 Apr-19 pr-19 Ma May-19 y-19 Jun- un-19 Jul-19 ul-19 Aug-1 ug-19 Sep- p-19 Oct-1

• 19

Nov-1 Nov-19 De Dec-19 Jan-2

• 20

RSS3 TSR20

SICOM COM Price (US S cent : Kg.) .)

2019 Avg. RSS = 165 65 TSR = 141 2018 Avg. RSS = 155 TSR = 137  3% YoY

Factor tor 2 : 2 : Foreig eign n Exc xchan ange ge Rate te

(THB millio lion) 2018 2018 2019 2019

Realised gain/(loss) on exchange rate (151.8) 318.3 Unrealised gain/(loss) on exchange rate (100.3) (250.7) Gain/(lo loss ss)on exchan hange rate te (252.1 52.1) 569.0 9.0

• In 2019, Thai Baht moved up 3.8% against US Dollar, from an average of 32.1 Baht/US

dollar in 2018 to 30.9 Baht/US dollar in 2019. During 2019, Thai Baht was going to be stronger from quarter to quarter as a result of capital flows following the delay in interest rate increase by the Federal Reserve and a record of Thailand’s current account surplus..

• In 2019, the Company recorded Baht 569.0 million in foreign exchange gain in 2019,

improved from a loss of Baht 252.1 million in 2018..

Agen enda da 2

29 29 30 30 31 31 32 32 33 33 34 34 Ja Jan-1

• 18

Feb-18 Mar Mar-1

• 18

Apr- r-18 May May-1

• 18

Jun Jun-1

• 18

Jul Jul-1

• 18

Aug-1

• 18

Sep ep-1

• 18

Oct-1 Oct-18 Nov Nov-1

• 18

Dec ec-1

• 18

Ja Jan-1

• 19

Feb-19 Mar Mar-1

• 19

Apr- r-19 May May-1

• 19

Jun Jun-1

• 19

Jul Jul-1

• 19

Aug-1

• 19

Sep ep-1

• 19

Oct-1 Oct-19 Nov Nov-1

• 19

Dec ec-1

• 19

Ja Jan-2

• 20

THB/USD SD Move vement ment

2018 Avg. THB/US /USD : 3 32.1 2019 Avg. THB/U /USD : 30.9

▼ 4% YoY

Factor tor 3 : 3 : Financ ncial ial Costs ts

2018 2018 2019 2019 RP RP 1.52% 2% 1.56% 6% MLR 6.18% 8% 6.15% 5% STA 3.15% 5% 3.33% 3% (THB milli lion) 2018 2018 2019 2019

Financ ncial l Cost

935.2 .2 890.5 .5

Note : * The average MLR of three large commercial banks namely Bangkok Bank, Kasikorn Bank, and Siam Commercial Bank

Agen enda da 2

Factor ctor affe ffected cted decre decrease se in finan nancial cial costs sts in n 201 019:

• A decrease in short-term borrowings to support raw material purchasing of natural rubber and

the redemption of matured debenture in the amount of Baht 810 million in May 2019.

• In 2019, interest expenses dropped from Baht 935.2 million last year to Baht 890.5 million, down 4.8%.

0.00 0.00 1.00 1.00 2.00 2.00 3.00 3.00 4.00 4.00 5.00 5.00 6.00 6.00 7.00 7.00 Jan Fe Feb Ma Mar Apr Apr Ma May Jun un Jul ul Aug Aug Sep Oct Nov Nov De Dec

MLR* = 6.15 15% STA = 3.33 33% % REPO = 1.56 56%

Glove operations are also affected by policies such as the ban issued by the US Food and Drug Administration on the use of powdered medical gloves, which could lead to shifting in demand for latex gloves to powder-free latex gloves or nitrile gloves.

Factor tor 4 : 4 : Governm ernmen ent Policy cy

Agen enda da 2

2019: 19:

• The governments of three major natural rubber-producing countries, Thailand, Indonesia, and Malaysia, impos
• sed a quota

a of 240, 0,00 000 0 tons ns of rubber export t reduction tion during ng January ry to March h 2018 18, which Indonesia and Malaysia started implement this scheme the period from 1 April 2019 to 31 July 2019 and Thailand implemented the period from 20 May 2019 to 19 August 2019.

• Natural rubber price guarantee program for rubber farmers [Period: October 2019 to March 2020] which the guaranteed prices were at 60

Bath/kg. for good quality unsmoked sheets, at 57 Baht/kg. for fresh latex and at 23 Baht/kg. for cup lump.

• Interest rate subsidy program offered to businesses that consume natural rubber which the Government shall subsidy the interest rate no more

than 3%.

7,161 4,854 9.8% 8.1%

0% 0% 2% 2% 4% 4% 6% 6% 8% 8% 10% 10% 12% 12% 2,0 2,000 00 4,0 4,000 00 6,000 6,000 8,000 8,000 2018 2018 2019 2019 Gro Gross ss Pro rofit ( fit (THB m mil illi lion) n) Gro Gross ss Pro rofit Ma fit Margin ( rgin (%) %)

(THB million) n) (%)

Gros

• ss Prof
• fit

it and Gros ross Prof

• fit

it Margin rgin

Gross profi fit t and d gross ss profi fit t margi rgin n in 2019 19 decre rease sed due to:

Agen enda da 2

• High volatility of natural rubber price on the global

markets which moved inconsistent with domestic raw material process and/or fundamental

• The drop in prices of latex and synthetic rubber, the

primary raw material in latex and nitrile glove production, respectively, which moved down alongside oil prices on the global market

• The appreciation of Thai Baht against US Dollar,

especially when compared with Malaysian Ringgit, the currency of our major competitors

• These bought about an decreased in ASP of gloves to

represent raw material prices and to compete with competitors in Malaysia

2,064 4 (149) 2.8%

• 0.2%
• 1.0%
• 1.0%

0.0% 0.0% 1.0% 1.0% 2.0 2.0% 3.0% 3.0% ( (500) 500)

• 500

500 1,000 1,000 1,500 1,500 2,000 2,000 2,500 2,500 2018 2018 2019 2019

(THB million) n)

Net t loss mai ainly nly due to the e drop of:

• Operating profit
• Share of profit from investments in associates and joint ventures
• The drop in profits from glove business due to the appreciation of

Thai Baht against Malaysian Ringgit, a main competitor country

Net t Pr Prof

• fit

it and Net t Pr Prof

• fit

it Margin rgin

(%)

Agen enda da 2

At the end of 2019 19, we had Baht t 961.2 1.2 mill llion ion in gains ns from

• m the

net reali lizabl able e value ue of inventory entory that t cannot not be record

• rded

d in in accord rdanc ance with th the accountin nting stand andards. rds. Had we been able to record rd such gains, we wou

• uld

ld have e had a a net profit fit of Baht t 812.7 2.7 mill llion ion in 2019 19.

Trade de accoun unts s receiva vable ble and 9% 9%

• ther

her receiva ivable ble, , net 23% 23% Inve ventorie ntories, s, net 48% 48%

Rubbe bber r and Palm plant ntation

• ns,

s, net 4% 4% Good

• dwill

ll 5% 5% Others rs 7% 7% Cash h and d cash equivale lent nt 4% 4%

2019 019 Total tal Assets sets

Finan ancial cial Structure ucture – Total al Asset ets

Conso nsoli lida date ted (THB milli llion) 31 31 Dec 18 31 31 Dec 19 % Chg.

Cash and cash equivalent

4,259 2,382

• 44.1%

Trade accounts receivable and

• ther receivable, net

5,970 4,978

• 16.6%

Inventories, net

12,452 13,494 8.4%

Other current assets

1,545 1,689 9.3%

Total curre rent assets

24,22 226 6 22,54 543 3

• 6.9%

9%

Investments in associates and JVs

801 896 11.8%

Property, plant and equipment, net

26,382 27,802 5.4%

Rubber and Palm plantations, net

2,051 2,247 9.5%

Goodwill

3,175 3,175

• Other non-current assets

1,779 1,669

• 6.2%

Total non

• n-curre

rrent nt assets

34,18 189 9 35,78 788 8 4.7%

Total Assets

58,41 414 4 58,33 331 1

• 0.1%

1%

Agen enda da 2

58 58,33 331

THB B millio ion

Trade de accoun unts s receiva vable ble and 29% 29% Long ng-term rm borrow rowing ng from m financi ncial l institut stitutes 18% 18%

• ther

her receiva vable, ble, net 4% 4% Invent ntories, s, net 2% 2% Rubbe bber r and Palm plant ntation

• ns,

s, net 3% 3% Good

• dwill

ll 19% 19% Others rs 15% 15% Cash h and d cash equiva vale lent nt 10% 10%

2019 019 Liabilities & Shareholders’ Equity

Financial ancial Structure ucture – Total Liabilities and Shareholders’ Equity ty

Note : *Including the current portion

Conso nsoli lida date ted (THB milli llion) 31 31 Dec 18 31 31 Dec 19 % Chg.

Short-term loans 15,767 16,949 7.5% Long-term loans* 9,702 10,496 8.2% Trade AP and other payables 2,677 2,529

• 5.5%

Debentures* 2,265 1,455

• 35.8%

Derivative financial instruments 171 143

• 16.4%

Other liabilities 1,421 1,271

• 10.5%

Total Liabilities 32,0 ,003 03 32,8 ,842 42 2.6% 6% Issued and paid-up share capital 1,536 1,536

• Premium on share capital

10,852 10,852

• Retained earning

9,173 8,567

• 6.6%

Other shareholders’ equity 4,851 4,534

• 6.5%

Total Shareholders’ Equity 26,4 ,411 11 25,4 ,488 88

• 3.5%

.5%

Agen enda da 2

58 58,33 331

THB B millio ion

Financial ancial Rati tios

• s

Curr rrent nt Ratio atio (times mes) Debt bt to Equit ity y Ratio atio (times mes) Cas ash h Cycle ycle (day ays) Fixe xed d Asset set Turnover nover (time imes)

Agen enda da 2

1.10 1.15 5 1.00

20 2017 17 20 2018 18 20 2019 19

1.57 7 1.21 1.29 9

20 2017 17 20 2018 18 20 2019 19

101.95 .95 101.60 .60 106.01 .01

20 2017 17 20 2018 18 20 2019 19

4.47 2.89 2.23

20 2017 17 20 2018 18 20 2019 19

Financial ancial Rati tios

• s

15.56 56 15.15 15 16.34 34

20 2017 17 20 2018 18 20 2019 19

• 0.57

57

• 1.05

05 1.34

20 2017 17 20 2018 18 20 2019 19

Book Value per Share (Baht) Earning per Share (Baht)

N/A

• 46.52%

52%

20 2017 17 20 2018 18 20 2019 19

Dividend Payout Ratio (%)

Agen enda da 2

“Sustainable Growth”

CG CG score : Excelle lent nt Thaila land nd Sust staina inabil ility y Invest stme ment nt and Selected d in SET T THSI index CAC Certific ficatio ion Custome

• mer

r Satisfa isfactio ion

SDGs s Goal al

Sustai tainabi nability lity Perfo forma rmanc nce

Agen enda da 2

Econo nomic mic and Corporate porate Governa ernanc nce e

Sust staina inabil ility ity Disc sclo losur sure Award (Recognit nitio ion) Certified FSC™ FSC FM and FSC CoC

GREEN PROCU CUREMENT EMENT and GREEN PROD ODUCT

“Create eate more re happiness ppiness for r intern ernal l and d extern ternal al society iety” SDGs s Goal al

26

Support rt the purchasing sing of local l products s & servic ices STA’s partners signed to show w the intent ntio ion n against nst corruptio ion. n.

Sustai tainabi nability lity Perfo forma rmanc nce

Agen enda da 2

Social al

Purcha hasing inglocalprodu ducts ts and d serv rvices ces 2,824 mil. THB

The Outst stand nding ing Organi nizatio ion n for the Promo

• motio

ion n of the Disabled led Person son 102 companie ies Mobile le Applicatio ion n STA F.R.I.E.N .I.E.N.D .D.S .S

GREEN PROCESS CESS

“Focus on the effective environmental management system” SDGs s Goal al

27

Sustai tainabi nability lity Perfo forma rmanc nce

Agen enda da 2

Environme ironment nt

The odor r treatment nt project Bio-fil filter r at at Loei factory ry

Impro prove ved d cup lump stora rage buildin ding to closed sed system stem at Loeifacto tory ry

Providing knowledge to produce a good quality of cup lump by using the right chemical in orde der to have a goo

• od

d rubb bber r quality y and d reduc duce environ ronme ment ntal impact To preve vent nt the serum rum from

• m the

cup p lump mp leaking king on

• n roads

ds which may cause smell and road accident Stocking cup lump in buildings and spraying with wood vinegar to preve vent nt the smell of cup lump Using Bio Filter which is the biological system for deodorization from

• m rubb

bber r baking king

Takin ing g a S Step Forward ard as t the Green n Rubb bber r Compa pany

To achieve ve being

Cup Lump mp Rubber r Plan antat tation Recei eivin ving cup lump mp to our factory ry Bakin ing Cutt tting Flatt ttenin ing Cutt tting Hanging Compres essi sing Test Packag ckagin ing Logisti stic c activit vities es Coagulati ting Deli liver verin ing to custo stomer mers s

• ver the world

Agen enda da 3

To acknowledge the interim dividend payment from the Company's performance for the year 2019 Objective and Reasons as shown in invitation agenda item 3

29

Agen enda da 3

Due to the epidemic of Coronavirus Disease 2019 (COVID-19), the Company has postponed the 2020 Annual General Meeting of Shareholders. To avoid the impact of the postponement of the 2020 AGM, the Board of Directors has approved the interim dividend payment from the Company's performance for the year 2019 instead. As the Company still has accumulated profit, considering together with the current cash flow ability, the Board of Directors approved the dividend payment of Baht 0.35 per share, totaling Baht 537.60 million. It will be paid from the Company’s accumulated profitless 5 years loss carry forward whereby individual shareholder shall not be entitled to a tax credit which has already been paid to shareholders on 15 May 2020.

30

Agen enda da 3

20 2019 19 20 2018 18

(Adjust justed) d)

20 2017 17

Net profit (million Baht) (52.07) 2,161.50 (1,418) Earnings per share (Baht) (0.10) 1.34 (1.05) Dividend per share (Baht)

Interim dividend (Baht/share) (as at 15 May 2020) Year-End dividend (Baht/share)

0.35 0.35

• 0.65

0.25 0.40

• Number of shares (shares)

1,536 1,536 1,536 Total dividend payment (million Baht) 537.60 998

• Payout ratio (%)

NA 46.52

• 31

Agen enda da 4

To consider and approve the election of directors to replace the directors who retire by rotation

32

Agen enda da 4

The four directors who shall vacate office are:

• 1. Mr. Kitichai Sincharoenkul

Director

• 2. Mr. Samacha Potavorn

Director / Independent Director

• 3. Mr. Patrawut Panitkul

Director

• 4. Mr. Vitchaphol Sincharoenkul

Director

33

Agen enda da 4

4.1 To consider and approve the election of Mr. Kitichai Sincharoenkul to be a director of the Company for another term. Proposed to be appointed as a director

• f the Company

Profile

34

Agen enda da 4

4.2 To consider and approve the election of Mr. Samacha Potavorn to be a director / independent director of the Company for another term. Proposed to be appointed as a director / independent director of the Company Profile

35

Agen enda da 4

4.3 To consider and approve the election of Mr. Patrawut Panitkul to be a director of the Company for another term. Proposed to be appointed as a Director

• f the Company

Profile

36

Agen enda da 4

4.4 To consider and approve the election of Mr. Vitchaphol Sincharoenkul to be a director of the Company for another term. Proposed to be appointed as a director

• f the Company

Profile

37

Agen enda da 5

To consider and approve the determination of remuneration

• f directors for the year 2020

38

Agen enda da 5

The directors’ remuneration for the year 2020, with the details as follows:

Remuneration of Board of Directors

• Chairman of the Board

Baht 75,000 / person/ month

• Directors

Baht 56,000 / person/ month Remuneration of Audit Committee

• Chairman of the Audit Committee

Baht 85,000 / person/ month

• Audit Committee member

Baht 70,000 / person/ month Meeting Allowance (only pay to those who attend the meeting)

• Chairman of the Board / Chairman of Audit Committee Baht 10,000 / person/ time
• Directors / Audit Committee member

Baht 7,000 / person/ time Other Benefits / Non-monetary remuneration None

39

Agen enda da 5

Re Remune neration ration of Di Directors tors (Ba Baht) t) Year 2020 020 2019 019 2018 018 Board of Directors 6,276,000 5,604,000 5,604,000 Audit Committee 2,700,000 2,424,000 2,424,000 Total 8,976,000 8,028,000 8,028,000

40

Agen enda da 5

41

Remunera neration tion of Directo tors rs (Baht/ ht/year) r)

Name Posi sition 202 020 201 019 201 018

• 1. Mr. Viyavood Sincharoenkul

Chairman

900,000.- 804,000.- 804,000.-

• 2. Mr. Prakob Visitkitjakarn1

Vice Chairman, Independent Director and Chairman of Audit Committee

• 390,000.-

936,000.-

• 3. Miss Anusra Chittmittrapap2

Vice Chairman, Independent Director and Audit Committee

840,000.- 672,000 600,000.-

• 4. Mr. Chaiyos Sincharoenkul

Director

672,000.- 600,000.- 600,000.-

• 5. Mr. Kitichai Sincharoenkul

Director

672,000.- 600,000.- 600,000.-

• 6. Mr. Veerasith Sinchareonkul

Director

672,000.- 600,000.- 600,000.-

• 7. Mr. Lee Paul Sumade

Director

672,000.- 600,000.- 600,000.-

• 8. Mr. Patrawut Panitkul

Director

672,000.- 600,000.- 600,000.-

• 9. Mr. Li Shiqiang3

Director

36,129.- 600,000.- 600,000.-

• 10. Mr. Chalermpop Khanjan

Director

672,000.- 600,000.- 600,000.-

• 11. Mr. Kriang Yanyongdilok4

Independent Director and Chairman

• f Audit Committee

1,020,000.- 840,000.- 744,000.-

• 12. Mr. Samacha Potavorn

Independent Director and Audit Committee

840,000.- 744,000.- 744,000.-

• 13. Gen. Thanasorn Pongarna5

Independent Director

672,000.- 300,000.-

• 14. Mr. Vitchaphol Sincharoenkul6

Director

560,000.-

42

Meeting ing Allowa

• wance

ce (Ba Baht/ti t/time) me) 2020 020 2019 019 Chairman 10,000

• Director

7,000

• Chairman of Audit Committee

10,000

• Audit Committee Member

7,000

• Agen

enda da 5

Agen enda da 6

To consider and approve the appointment of the auditor and determination of auditing fee for the year 2020

43

Agen enda da 6

Name of Auditor Certified rtified Publ blic ic Accoun

• untan

tant t (Thai ailan land) d) No No. Year r for r Auditi iting ng the Company pany in pa past st 5 y 5 years ars

• 1. Mr. Supachai Panyawattano

3930 2018 , 2019

• 2. Miss Krongkaew Limkittikun

5874

• 3. Mr. Nuttawut Santiphet

5730

• Either of these auditors can conduct the audit and express an opinion on the financial statements of

the Company. In the event that neither of these auditors is available, EY Office Limited can delegate another one of its Certified Public Accountants to conduct the audit. It is deemed appropriate that the shareholders meeting approve the appointment of an auditor from EY Office Limited to be an auditor of the Company for the year 2020 with the names listed as follows:

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Agen enda da 6

2020 020 2019 019 Auditing fee (year end) 6,030,000 4,944,000 Reviewing fee (quarterly) 5,324,000 4,680,000 Tota tal audi diting ting fee 11,354,0 ,354,000 00 9,624, 624,000 000 Auditing fee of the Company and its subsidiaries Unit: Baht

For the year 2020, EY Office Limited proposed the auditing fee of the Company and 10 subsidiaries, aggregately in an amount of Baht 11,354,000, divided into the auditing fee of the Company in an amount of Baht 6,100,000 and the auditing fee of the subsidiaries in an amount of Baht 5,254,000, which is increased from the previous year of 18%.

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In addition, the Company uses the audit services for the foreign subsidiaries from the same audit firm specified herein and other audit firms. The determination to appoint the auditor of each foreign subsidiary shall primarily consider from quality

• f its services and auditing fee rate. For the subsidiaries located in foreign

countries that use the audit services from other audit firms, the Board of Directors

• f the Company will enable them to submit the financial statements within

prescribed time.

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