MACO: Annual Report 2012 by Piyanat Kimhamanon

วิสัยทัศน์ / Vision ĶđðŨîñĎšîĞć×ĂÜđĂđßĊ÷êąüĆîĂĂÖđÞĊ÷ÜĔêšĔîĂčêÿćĀÖøøöÿČęĂēÛþèć õć÷îĂÖìĊęĂ÷ĎŠĂćýĆ÷ĒúąïĆîđìĉÜ ìĊęöĊîüĆêÖøøö ĒúąđìÙēîēú÷ĊìĆîÿöĆ÷ õć÷ĔîðŘ 2558ķ Ķ5P CF UIF 4PVUI &BTU "TJBO -FBEJOH $PNQBOZ JO 0VU PG )PNF "EWFSUJTJOH .FEJB XJUI JOOPWBUJPO BOE DVUUJOH FEHF UFDIOPMPHZ JO 2 15ķ

1. îĞćĒîüìćÜðäĉïĆêĉìĊęéĊìĊęÿčé×ĂÜïøĉþĆìßĆĚîîĞćìĆęüēúÖöćðøą÷čÖêŤĔßšĒúąøĆÖþćÙüćöđðŨîñĎšîĞćĔîðøąđìý To apply the best operating approaches from other leading companies worldwide for our company and maintain the company as a leader in our country. 2. ïøĉþĆìÝąêšĂÜöĊĂĆêøćÖćøđÝøĉâđêĉïēêđóĉęö×ċĚîìčÖðŘ The company will continually increase its growth rate every year. 3. đóĉęöÙčèÙŠćĔĀšĒÖŠúĎÖÙšć ēé÷ÖćøðøĆïðøčÜñúĉêõĆèæŤéšü÷ÖćøîĞćđìÙēîēú÷Ċ ĒúąîüĆêÖøøöĔĀöŠė öćðøą÷čÖêŤĔßš đîšîÖćøïøĉÖćøìĊęöĊÙčèõćóĂ÷ŠćÜêŠĂđîČęĂÜêćöÙüćöêšĂÜÖćø×ĂÜúĎÖÙšć đóČęĂøĆÖþćåćîúĎÖÙšćđÖŠćĒúą×÷ć÷åćî úĎÖÙšćĔĀöę Value added to customers by product development from new technology and innovation. In addition, the company would continually concentrate in good quality services according to customer’s needs as for maintaining old customer base as well as expanding new one. 4. đóĉęöÙčèÙŠćĔĀšÖĆïÿĆÜÙöĒúąðøąđìýßćêĉ ēé÷ÖćøÝšćÜÜćî ÖćøÿŠÜĂĂÖ ĒúąÖćøóĆçîćÿČęĂēÛþèćõć÷îĂÖìĊę Ă÷ĎŠĂćýĆ÷ĔĀšđðŨî 4USFFU 'VSOJUVSF ìĊęöĊÿŠüîĔîÖćøêÖĒêŠÜđöČĂÜĔĀšÿü÷ÜćöĂ÷ŠćÜĀîċęÜ Value added to our society and country by employment, exporting, and outdoor advertising media development to become a Street Furniture which absolutely decorates our city in a part. 5. đðŨîýĎî÷ŤÖúćÜđÙøČĂ×Šć÷ ×šĂöĎú ×ŠćüÿćøìćÜíčøÖĉÝÿČęĂēÛþèćõć÷îĂÖìĊęĂ÷ĎŠĂćýĆ÷ To be a center of out of Home Media business information network. 6. øĉđøĉęöÙüćöÙĉéÿøšćÜÿøøÙŤêŠćÜė đóČęĂĔĀšđÖĉéöĎúÙŠćÿĎÜÿčéÖĆïúĎÖÙšć×ĂÜïøĉþĆì To be creative as to generate the best value for our customers. 7. ÿøšćÜêøćÿĉîÙšćĒúąõćóúĆÖþèŤĔĀšđðŨîìĊęøĎšÝĆÖĂ÷ŠćÜÖüšćÜ×üćÜ To create brand and image as to be well know worldwide. 8. óĆçîćìøĆó÷ćÖøöîčþ÷ŤĂ÷ŠćÜêŠĂđîČęĂÜ ĂĆîîĞćĕðÿĎŠÖćøóĆçîćêîđĂÜĒúąĂÜÙŤÖøĒĀŠÜÖćøđøĊ÷îøĎš To develop our human resources continually that leads to self development and learning organization.

สารบัญ 02 สารจากประธานกรรมการบริษัท

70 การควบคุมภายใน

03 สารจากประธานกรรมการบริหาร

72 ปัจจัยความเสี่ยง

04 ประวัติคณะกรรมการและผู้บริหาร 17 ข้อมูลทางการเงินโดยสรุป

74 คําอธิบายและการวิเคราะห์ ฐานะการเงินและผลการดําเนินงาน

22 ข้อมูลทั่วไปของบริษัท

82 รายงานของคณะกรรมการตรวจสอบ

23 ลักษณะการประกอบธุรกิจ 30 โครงสร้างการถือหุ้นและการจัดการ

83 รายงานความรับผิดชอบของ คณะกรรมการต่อรายงานทางการเงิน

44 รายการระหว่างกัน

86 งบการเงิน

52 การกํากับดูแลกิจการ

ðŘ

1. ø.ê.ê.đÖøĊ÷ÜýĆÖéĉĝ ēúĀąßćúą

2. îć÷ðćøđöýøŤ øĆßĕß÷ïčâ ðŘ

อายุ

ชื่อ - สกุล

ÖĉêêĉöýĆÖéĉĝ ÿć×ćüĉßćÖćøēÛþèć öĀćüĉì÷ćúĆ÷ýøĊðìčö %irector "ccreditation 1rogram %"1

Ļ ðøĉââćêøĊ ýĉúðýćÿêøŤÿć×ć ðøąüĆêĉýćÿêøŤ öĀćüĉì÷ćúĆ÷íøøöýćÿêøŤ Ļ ðøĉââćýĉúðýćÿêøŤéčþãĊïĆèæĉê

Ļ Ļ

ÿć×ćüĉßćøĆåýćÿêøŤ öĀćüĉì÷ćúĆ÷øćöÙĞćĒĀÜ ðøĉââćēì Master of 1ublic "dministration, ,ent State 6niversity, 6.S." ðøĉââćêøĊ ÿć×ćîĉêĉýćÿêøŤ öĀćüĉì÷ćúĆ÷íøøöýćÿêøŤ %irector "ccreditation 1rogram %"1

Ļ ðøĆßâćéčþãĊïĆèæĉêÖĉêêĉöýĆÖéĉĝ

คุณวุฒิทางการศึกษาสูงสุด

ĕöŠöĊ

สัดส่วนการ ความสัมพันธ์ ถือหุ้นในบริษัท ทางครอบครัว (%) ระหว่างผู้บริหาร

ประวัติกรรมการของ บริษัท มาสเตอร์ แอด จํากัด (มหาชน) ตําแหน่ง

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ðŦÝÝčïĆî ðŦÝÝčïĆî ðŦÝÝčïĆî ðŦÝÝčïĆî

ðøąíćîÖøøöÖćøïøĉþĆì ðøąíćîÖøøöÖćøïøĉþĆì ìĊęðøċÖþć ìĊęðøċÖþć ÖøøöÖćø ÖøøöÖćø îć÷ÖÿõćöĀćüĉì÷ćúĆ÷ ðøąíćîöĎúîĉíĉ ÖøøöÖćøïøĉþĆì ÖøøöÖćøĂĉÿøąĒúąÖøøöÖćø êøüÝÿĂï ðŦÝÝčïĆî ÖøøöÖćøĂĉÿøą ìĊęðøċÖþćñĎšìøÜÙčèüčçĉ×ĂÜñüÝ. ðúĆéÖøčÜđìóöĀćîÙø øĂÜðúĆéÖøčÜđìóöĀćîÙø

ðŦÝÝčïĆî ðŦÝÝčïĆî ðŦÝÝčïĆî ðŦÝÝčïĆî ðŦÝÝčïĆî ðŦÝÝčïĆî ðŦÝÝčïĆî ðŦÝÝčïĆî ðŦÝÝčïĆî ðŦÝÝčïĆî

ช่วงเวลา

ïÝÖ. đéîìŤÿč ÷ĆÜÙŤ ĒĂîéŤøĎïĉĒÙö

ïöÝ. öćÿđêĂøŤ ĒĂé ÝĞćÖĆé ÿöćÙöēÛþèćíčøÖĉÝĒĀŠÜðøąđìýĕì÷ ïÝÖ. đìĉøŤîĂąøćüéŤ ēôÖĆÿ ïÝÖ. đîČĚĂîćïčâ ïÝÖ. đéîìŤÿč ÷ĆÜÙŤ ĒĂîéŤøĎïĉĒÙö ïÝÖ đéîìŤÿč ÷ĆÜÙŤ ĒĂîéŤ øĎïĉĒÙö

ïöÝ. ÖĆî÷ÜĂĊđúÙìøĉÙ ÖøčÜđìóöĀćîÙø ÖøčÜđìóöĀćîÙø ÖøčÜđìóöĀćîÙø

ïöÝ. öćÿđêĂøŤ ĒĂé ïöÝ. đĂ óúĆÿ đĂĘîđêĂøŤđìîđöîìŤ ÿĞćîĆÖÜćîìøĆó÷ŤÿĉîÿŠüîóøąöĀćÖþĆêøĉ÷Ť ïÝÖ. ÖøčÜđìóíîćÙö öĎúîĉíøĉ ćßðøąßćîčđÙøćąĀŤĔîóøąïøöøćßĎðëĆöðş öĎúîĉíĉøĆÖđöČĂÜĕì÷ öĀćüĉì÷ćúĆ÷đìÙēîēú÷ĊøćßöÜÙúêąüĆîĂĂÖ öĎúîĉíóĉ ĉóĉíõĆèæŤđéĘÖ ÖøčÜđìóöĀćîÙø ïöÝ. đöđÝĂøŤ àĊîĊđóúĘÖàŤ ÖøčŢð ïöÝ. ðøĊßćÖøčŢð

ชื่อหน่วยงาน/ประเภทธุรกิจ

ประสบการณ์การทํางาน

3. îć÷îóéú êĆèýúćøĆÖþŤ

ชื่อ - สกุล

คุณวุฒิทางการศึกษาสูงสุด

Ļ Ļ Ļ Ļ Ļ Ļ

ðŘ ðøĉââćēì üĉýüÖøøöýćÿêøŤ ÿć×ć üĉýüÖøøöēÙøÜÿøšćÜ 6niversity of Southwestern -ouisiana 6S". ðøĉââćēì ïøĉĀćøíčøÖĉÝ M#"

öĀćüĉì÷ćúĆ÷íøøöýćÿêøŤ ðøĉââćêøĊ üĉýüÖøøöýćÿêøŤ ÿć×ć ÿĞćøüÝ ÝčāćúÜÖøèŤöĀćüĉì÷ćúĆ÷ %irector "ccreditation 1rogram %"1 %irector $ertiųcation 1rogram %$1 T-$" &xecutive %evelopment 1rogram &%1

ĀúĆÖÿĎêøðøąÖćýîĊ÷ïĆêø×ĆĚîÿĎÜ ÖćøđöČĂÜÖćøðÖÙøĂÜĔîøąïĂï ðøąßćíĉðĕê÷ ÿĞćĀøĆïîĆÖïøĉĀćø øąéĆïÿĎÜ ððø. øčŠîìĊę üĉì÷ćúĆ÷ ÖćøđöČĂÜÖćøðÖÙøĂÜ ÿëćïĆîóøą ðÖđÖúšć ĀúĆÖÿĎêøÖćøïøĉĀćøÝĆéÖćøéšćîÙüćö öĆęîÙÜ×ĆĚîÿĎÜ üðĂ.öÿ. øčŠîìĊę ÿöćÙöüĉì÷ćúĆ÷ðŜĂÜÖĆîøćßĂćèćÝĆÖø ĀúĆÖÿĎêøñĎšïøĉĀćøøąéĆïÿĎÜ ÿëćïĆî üĉì÷ćÖćøêúćéìčî üêì. ÿëćïĆî üĉì÷ćÖćøêúćéìčî ĀúĆÖÿĎêøÖćøïøĉĀćøÝĆéÖćøÙšćðúĊÖ "dvance 3etail Management

øčŠîìĊę ïöÝ.àĊóĊ ĂĂúúŤ Successful Formulation &xecution the Strategy SF& øčŠî

อายุ

ĕöŠöĊ

สัดส่วนการ ความสัมพันธ์ ถือหุ้นในบริษัท ทางครอบครัว (%) ระหว่างผู้บริหาร ตําแหน่ง

ชื่อหน่วยงาน/ประเภทธุรกิจ

ïöÝ. öćÿđêĂøŤ ĒĂé ÝĞćÖĆé ïÝÖ. đìÙĂąúčÙ ïöÝ. öćÿđêĂøŤ ĒĂé ÝĞćÖĆé ïÝÖ. öćÿđêĂøŤ ĒĂîéŤ öĂøŤ ïÝÖ. öćēÖšĕøìŤàć÷îŤ ïöÝ. öćÿđêĂøŤ ĒĂé ÝĞćÖĆé

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ประสบการณ์การทํางาน

ðŦÝÝčïĆî ìĊęðøċÖþć ðŦÝÝčïĆî ðøąíćîòść÷ðøąßćÿĆöóĆîíŤ ĒúąÿöćßĉÖÿĆöóĆîíŤ ððø. ðŦÝÝčïĆî ÙèąĂîčÖøøöÖćøòść÷ ðøąßćÿĆöóĆîíŤĒúąĒúąÝĆé ÖĉÝÖøøö ðŦÝÝčïĆî ÖøøöÖćø ðŦÝÝčïĆî đú×ćîčÖćø ÿüðĂ.öÿ. ðŦÝÝčïĆî ðøąíćîÙèąÖøøöÖćø "3M $-6# ðŦÝÝčïĆî ÖøøöÖćø ðŦÝÝčïĆî ÖøøöÖćøĂĉÿøąĒúąÖøøöÖćø êøüÝÿĂï ðŦÝÝčïĆî ÖøøöÖćø ðŦÝÝčïĆî ÖøøöÖćø ðŦÝÝčïĆî ĀĆüĀîšćìĊöđú×ćîčÖćø üêì. ðŦÝÝčïĆî ìĊęðøċÖþćÖĉêêĉöýĆÖéĉĝ ðŦÝÝčïĆî ðøąíćîÙèąîĆÖýċÖþć øčŠî ìĊę "3M

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ช่วงเวลา

ประวัติกรรมการของ บริษัท มาสเตอร์ แอด จํากัด (มหาชน) (ต่อ)

3. îć÷îóéú êĆèýúćøĆÖþŤ êŠĂ

ชื่อ - สกุล

อายุ

คุณวุฒิทางการศึกษาสูงสุด

สัดส่วนการ ความสัมพันธ์ ถือหุ้นในบริษัท ทางครอบครัว ระหว่างผู้บริหาร (%)

25 255 25 255 25 25 25 25 255 25 25 25 5 255 25 2 2552 25 2 255 252 25 2525 252

255 2552 255 2552 255 255

255 255 255 2552

2555

ช่วงเวลา

ประวัติกรรมการของ บริษัท มาสเตอร์ แอด จํากัด (มหาชน) (ต่อ)

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ตําแหน่ง

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ÿöćÙöñĎšñúĉêðŜć÷ĒúąēÛþèć "S1"

ïÝÖ. ĒúîéĊĚéĊđüúúĂðđöšîìŤ ïöÝ. ĕéĂĉÝĉ ÙĂøŤðĂđøßĆęî ïÝÖ. ĒúîéĊĚ ēăö ÖćøìćÜóĉđýþĒĀŠÜðøąđìýĕì÷ ïÝÖ. ĒĂú àĊ àĊ úĉĚöđÝøĉâ

ÿöćÙöðŜć÷ĒúąēÛþèć ÿöćÙöÖĊāćÖøčÜđìó ÿöćÙöïøĉþĆìÝéìąđïĊ÷îĕì÷

ÿöćÙöÖĊāćÖøčÜđìóöĀćîÙø ÿöćÙöÖĊāćÖøčÜđìóöĀćîÙø

üĉì÷ćúĆ÷ÖćøđöČĂÜÖćøðÖÙøĂÜ ÿëćïĆîóøąðÖđÖúšć

ประสบการณ์การทํางาน

6. îć÷üĉßĉê éĉúÖüĉúćý

5. îć÷íüĆß öĊðøąđÿøĉåÿÖčú

4. îć÷óĉđßþå öèĊøĆêîąóø

ชื่อ - สกุล

คุณวุฒิทางการศึกษาสูงสุด

Ļ Ļ

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ïöÝ. öćÿđêĂøŤ ĒĂé

ïöÝ. öćÿđêĂøŤ ĒĂé ēøÜđøĊ÷îíčøÖĉÝÖćøïĉî ĒðàĉôŗÙ đúđíĂøŤ

ïöÝ. öćÿđêĂøŤ ĒĂé

ประสบการณ์การทํางาน

ñĎšßŠü÷ðøąíćîđÝšćĀîšćìĊęïøĉĀćøÿć÷Üćî íčøÖĉÝÿĆöóĆîíŤ 25 2555 øĂÜðøąíćîđÝšćĀîšćìĊęòść÷ðäĉïĆêĉÖćø 25 25 ñĎšÝĆéÖćøìĆęüĕð 25 25 ñĎšÝĆéÖćø

ðŦÝÝčïĆî

ช่วงเวลา

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5. îć÷ èøĆå ó÷ĆÙÛîĉíĉ

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Ļ ðøĉââćēì øĆåðøąýćÿîýćÿêøŤ

&xecutive ,M School ðŘ 255

Ļ ðøĉââćêøĊ øĆåðøąýćÿîýćÿêøŤ ēøÜđøĊ÷îîć÷øšĂ÷êĞćøüÝ Ļ Finance for non Finance

คุณวุฒิทางการศึกษาสูงสุด

Ļ ðŘ Ļ ðøĉââćēì ïøĉĀćøíčøÖĉÝ

4. îćÜĂčĕøüøøè ïčè÷øĆêóĆîíčŤ ðŘ

3. îć÷Ýčæć Ýćøčïčè÷Ť

ชื่อ - สกุล

ประวัติผู้บริหารของ บริษัท มาสเตอร์ แอด จํากัด (มหาชน) (ต่อ)

ø.ê.ê đÖøĊ÷ÜýĆÖéĉĝ îć÷ðćøđöýøŤ îć÷îóéú îć÷óĉđßþå îć÷íüĆß îć÷üĉßĉê îć÷ðøąđÿøĉå îć÷óøýĆÖéĉĝ îćÜĂčïúøĆêîŤ îćÜÿćüíöîüøøè

ēúĀąßćúą øĆßĕß÷ïčâ êĆèýúćøĆÖþŤ öèĊøĆêîąóø öĊðøąđÿøĉåÿÖčú éĉúÖüĉúćý üĊøđÿëĊ÷øóøÖčú úĉĚöïčâ÷ðøąđÿøĉå ēóíĉĝÖöúüÜýŤ îøĉîìüćîĉß

1, I% "1, ID D, &$, $&0 & & & ID, "$ ID, $ ID, $ D, S, "

บมจ. มาสเตอร์ แอด

D D

บจก. เทค อะ ลุค

บริษัทร่วม บจก. อิงค์เจ็ทฯ

บจก. กรีน แอด

บจก. แม็กซ์ ครีเอทีฟ

บจก. มาโก้ ไรท์ ซายน์

D D D

บจก. มาสเตอร์ แอนด์ มอร์

บริษัทย่อย

Āöć÷đĀêč 1 ðøąíćîÖøøöÖćøïøĉþĆì, "1 øĂÜðøąíćîÖøøöÖćøïøĉþĆì, D ÖøøöÖćø, ID ÖøøöÖćøĂĉÿøą, "$ ðøąíćîÖøøöÖćøêøüÝÿĂï, $ ÖøøöÖćøêøüÝÿĂï, &$ ðøąíćîÖøøöÖćøïøĉĀćø, & ÖøøöÖćøïøĉĀćø, $&0 ðøąíćîđÝšćĀîšćìĊęïøĉĀćø, S đú×ćîčÖćøïøĉþĆì, " ñĎšßŠü÷ðøąíćîđÝšćĀîšćìĊęïøĉĀćøÿć÷ÜćîïĆâßĊÖćøđÜĉî

. 2. . . 5. . . . . .

รายชื่อ

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ข้อมูลทางการเงินโดยสรุป Financial Highlight งบการเงินรวม Consolidate ﬁnancial statement

2555 2012

% เปลีย ่ นแปลง % Change

2554 2011

% เปลีย ่ นแปลง % Change

2553 2010

ēÙøÜÿøšćÜøć÷ĕéš 0QFSBUJOH 3FTVMU øć÷ĕéšÝćÖÖćøïøĉÖćøĒúąÖćø×ć÷ 3FWFOVF GSPN 4BMFT 4FSWJDFT øć÷ĕéšøüö 5PUBM 3FWFOVF ÖĞćĕøÿčìíĉ /FU 1SPųU

2, , 2, , ,5 ,

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5,5 , 2 5,5 , 2 , ,

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, 5, 2 , , 5 2 , ,555 5, 2, 5 , , , , 52 , ,

5 2 2

5,2 2,5 2 5, 2, , ,2 , 55, 5 55 , , , , ,

åćîąÖćøđÜĉî 'JOBODJBM 4UBUVT ÿĉîìøĆó÷ŤĀöčîđüĊ÷î $VSSFOU "TTFU ÿĉîìøĆó÷ŤĕöŠĀöčîđüĊ÷î /PO $VSSFOU "TTFU ÿĉîìøĆó÷Ťøüö 5PUBM "TTFU ĀîĊĚÿĉîĀöčîđüĊ÷î $VSSFOU -JBCJMJUJFT ĀîĊĚÿĉîĕöŠĀöčîđüĊ÷î /PO $VSSFOU -JBCJMJUJFT ĀîĊĚÿĉîøüö 5PUBM -JBCJMJUJFT ÿŠüî×ĂÜñĎšëČĂĀčšî 5PUBM 4IBSFIPMEFSĴT &RVJUZ การวิเคราะห์อัตราส่วน / RatioAnalysis

2555/2012 2554/2011 2553/2010 2552/2009 2551/2008

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. . 5

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ÝĞćîüîĀčšî 4IBSF øćÙćöĎúÙŠćêćöïĆâßĊêŠĂĀčšî #PPLWBMVF QFS TIBSF

5 . 5. 2

. 2 2.

. .

. 2 .

2 .

/.".

.25

5.2

2. 2. 5

. .

. 2 .

.22 .

75 .

7 .75

2555/2012 2554/2011 2553/2010 2552/2009 2551/2008

7 , ,5 25, , 25, , 25, , 25, , . . . 7 . 7 .

โครงสร้างรายได้ Revenue Structure Revenue

."$0 4QBDF /PO .BDP 4QBDF

14% 86%

M MACO Space 7%

#JMMCPBSE

30%

.BEF UP 0SEFS

31%

4USFFU 'VSOJUVSF

&WFOU

5SBOTJU

63%

800 700 600 500 400 300 200 100 0

Non MACO Space

69%

732 636 476

499

461

353

329 236

193

191 2551 / 2008

2552 / 2009

øüöøć÷ĕéš / 5PUBM 3FWFOVF

140

2553 / 2010

2554 / 2011

ÖĞćĕø×ĆĚîêšî / (SPTTNBSHJO

2555 / 2012 ÖĞćĕøÿčìíĉ / /FU 1SPųU

800 721 600

600

489

606

509

634

524

746

595

497

400 200 0

111

137

2551 / 2008

2552 / 2009

2553 / 2010

ÿĉîìøĆó÷Ťøüö / 5PUBM "TTFUT

ĀîĊĚÿĉîøüö / 5PUBM -JBCJMJUJFT

197 2554 / 2011

151 2555 / 2012

ÿŠüî×ĂÜñĎšëČĂĀčšîøüö / 5PUBM 4IBSFIPMEFSĴT &RVJUZ

อัตราส่วนทางการเงินที่สําคัญ Ratio Analysis 20

ROA

19.03

14.75

5.77

6.48

2008

2009

7.5

2010

2011

2012

8.55

2008

2009

2010

D/E 22.95

6.63

2008

9.86

8.15

8.74

2009

2010

2011

0.1

2012

0.20

2004 2005

2008

2009

0.20

2010

2011 2012 6.

0.2

0.25

0.19

2009

2010

EPS (Baht)

2011

2012

0.78

0.79

2011

2012

0.52

0.4

0.50 0.21

2012

0.39

0.6

0.92

0.25

2008

0.8

Dividend Per Share 0.64

2011

0.28

0.2

0.23

7.5

0.5

8.19

0.3

0.75

13.69

0.4

P/E

22.5

25 19.78

10.55

ROE 22.5

0.29

2008

0.31

2009

2010

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đóĉęöìčîÝéìąđïĊ÷îĒúąđøĊ÷ÖßĞćøąđðŨî 6,000,000 ïćì

ðŘ 253

øŠüöúÜìčîÖĆïïøĉþĆì ĂĉÜÙŤđÝĘì ĂĉöđöÝđÝÿ đĂĘö đĂÿéĊ đĂĘî ïĊđĂßéĊ ÝĞćÖĆé ÝćÖðøąđìýöćđúđßĊ÷ đóČęĂÝĆéêĆĚÜïøĉþĆì ĂĉÜÙŤđÝĘì ĂĉöđöÝđÝÿ ðøąđìýĕì÷ ÝĞćÖĆé öĊüêĆ ëčðøąÿÜÙŤđóČĂę ðøąÖĂïíčøÖĉÝøĆïñúĉêõćóĔîøąïïÙĂöóĉüđêĂøŤĂÜĉ ÙŤđÝĘì đóČĂę ĔßšÿćĞ ĀøĆï ÜćîñúĉêÿČęĂðŜć÷ēÛþèćìĆĚÜõć÷îĂÖĒúąõć÷ĔîĂćÙćøĀúć÷øĎðĒïï øŠüöúÜìčîÖĆïïøĉþĆì đÙúĊ÷øŤ ßćĒîú ĂĉîđêĂøŤđîßĆęîĒîú ÝĞćÖĆé ñĎšñúĉêÿČęĂðŜć÷ēÛþèćßĆĚîîĞćÝćÖðøąđìýĂĆÜÖùþ đóČęĂÝĆéêĆĚÜ ïøĉþĆì öćÿđêĂøŤ ĒĂîéŤ öĂøŤ ÝĞćÖĆé ēé÷ïøĉþĆìëČĂĀčšîĔîÿĆéÿŠüîøšĂ÷úą 51 ×ĂÜìčîÝéìąđïĊ÷îĒúąßĞćøąĒúšü ÙĉéđðŨîđÜĉî úÜìčî 10.20 úšćîïćì öĊüĆêëčðøąÿÜÙŤđóČęĂðøąÖĂïíčøÖĉÝñúĉêÿČęĂðŜć÷ēÛþèćìĊęöĊ×îćéđúĘÖêĞęćÖüŠć 60 êćøćÜđöêø

ðŘ 253 2544 ×÷ć÷ÖćøéĞćđîĉîíčøÖĉÝĕð÷ĆÜÿČęĂðŜć÷ēÛþèćðøąđõìĂČęîė đóČęĂđóĉęöìćÜđúČĂÖĔĀšÖĆïúĎÖÙšć đßŠî ÿČęĂðŜć÷ēÛþèć Dyna Vision, Focus Display, $ity vision, #alloon, "irship đðŨîêšî ðŘ 2545

đóĉęöìčîÝéìąđïĊ÷îĒúąđøĊ÷ÖßĞćøąĒúšüđðŨî 100,000,000 ïćì đøĉęöîĞćøąïïïøĉĀćøÙčèõćó IS0 001 2000 đ×šćöćĔßšĔîÖćøïøĉĀćøÜćî ĒúąĕéšøĆïÖćøøĆïøĂÜöćêøåćî IS0 001 2000 ÝćÖÿëćïĆî 6nited 3egistrar of Systems -imited 63S ðøąđìýĂĆÜÖùþđðŨîøć÷ĒøÖ ĔîíčøÖĉÝÿČęĂēÛþèć õć÷ĔêšÿēúĒÖî ĶÿøšćÜÿøøÙŤÿČęĂ÷ċéëČĂÙčèõćóķ

ðŘ 2546

đóĉęöìčîÝéìąđïĊ÷îđðŨî 125,000,000 ïćì ĒúąìĞćÖćøĒðøÿõćóđðŨîïøĉþĆìöĀćßî đóČęĂđêøĊ÷öóøšĂöĔîÖćøđÿîĂ×ć÷ ĀúĆÖìøĆó÷ŤêĂŠ ðøąßćßîìĆüę ĕð ĒúąîĞćïøĉþìĆ đ×šćÝéìąđïĊ÷îĔîêúćéĀúĆÖìøĆó÷Ť M"I ĒúąìĞćÖćøÖøąÝć÷Āčîš ĕð÷ĆÜîĆÖúÜìčî ÙøĆĚÜĒøÖĔîüĆîìĊę 2 ÖĆî÷ć÷î 2546 øŠüöúÜìčîÖĆïïøĉþĆì ĕøìŤ àć÷îŤ ēĂđĂĘîđĂĘö ÿüĊđéî đĂïĊ ðøąđìýÿüĊđéî đóČęĂÝĆéêĆĚÜïøĉþĆì öćēÖš ĕøìŤ àć÷îŤ ÝĞćÖĆé öĊìčî ÝéìąđïĊ÷î 5 úšćîïćì ĔîÖćøúÜìčîïøĉþĆìëČĂĀčšîĔîÿĆéÿŠüîøšĂ÷úą 80 ÖćøøŠüöìčîÝĆéêĆĚÜïøĉþĆì öćēÖš ĕøìŤ àć÷îŤ ÝĞćÖĆé öĊ üĆêëčðøąÿÜÙŤđóČęĂðøąÖĂïíčøÖĉÝĔîÖćøñúĉêĂčðÖøèŤ ĕêøüĉßĆęî ēé÷ÿŠÜñúðøąē÷ßîŤĔĀšïøĉþĆì öćÿđêĂøŤ ĒĂé ÝĞćÖĆé öĀćßî

ÿćöćøëúéêšîìčîÝćÖÖćøîĞćđ×šćÖúĕÖÖćø×ĆïĀöčîøąïïĕêøüĉßĆęîÝćÖêŠćÜðøąđìýĕéšëċÜ 50 øüöìĆĚÜđðŨîÖćøđóĉęöÿŠüîĒïŠÜ Öćøêúćé ĒúąđóĉęöÿĆéÿŠüîøć÷ĕéš×ĂÜïøĉþĆì àČĚĂĀčšî×ĂÜïøĉþĆì ĒúîéĊĚ éĊđüúúĂðđöîìŤ ÝĞćÖĆé ēé÷đ×šćĕðëČĂĀčšîĔîÿĆéÿŠüî 48.87 ñúðøąē÷ßîŤìĊęĕéšøĆïÝćÖÖćøđ×šćĕð ëČĂĀčšî ÙČĂÖćøĔßšðøąē÷ßîŤÝćÖēÙøÜÖćøĔĀöŠìĊęêĆĚÜĂ÷ĎŠïøĉđüèðćÖàĂ÷úćéóøšćü 1 øŠüöúÜìčîĔîïøĉþĆì đìÙ Ăą účÙ ÝĞćÖĆé ēé÷đ×šćĕðëČĂĀčšîĔîÿĆéÿŠüî 25 ×ĂÜìčîÝéìąđïĊ÷îĒúąßĞćøąĒúšü

ðŘ 2548

đóĉęöêćöÿĆéÿŠüîÖćøúÜìčîĔîïøĉþĆì đìÙ Ăą účÙ ÝĞćÖĆé ÝćÖÖćøđ×šćĕðàČĚĂĀčšîđóĉęöĒúąđóĉęöìčîÝćÖ 25 đðŨî 33.33 ×ĂÜ ìčîÝéìąđïĊ÷îĒúąßĞćøąĒúšü

ðŘ 2551

ïøĉþĆì ĕøìŤ àć÷îŤ ēĂđĂĘîđĂĘö ÿüĊđéî ÝĞćÖĆé ĕéšÝĞćĀîŠć÷ĀčšîìĆĚÜĀöéìĊęëČĂĂ÷ĎŠÝĞćîüî 100,000 Āčšî ĔĀšÖĆïÖúčŠöñĎšëČĂĀčšîĔĀöŠ Ă÷ŠćÜĕøÖĘêćö ïøĉþĆì öćēÖš ĕøìŤ àć÷îŤ ÝĞćÖĆé ÷ĆÜÙÜĕéšøĆïÿĉìíĉĔîÖćøđðŨîñĎšñúĉêÿČęĂĕêøüĉßĆęîēé÷ĔßšđìÙēîēú÷ĊÝćÖðøąđìý ÿüĊđéî đßŠîđéĉö

ðŘ 2552

ïøĉþĆìöčŠÜđîšî×÷ć÷êúćéĒúąåćîúĎÖÙšćēé÷ÿøšćÜöĎúÙŠćđóĉęöĒúąîüĆêÖøøöéšćîïøĉÖćøĔîÿČęĂēÛþèćĔĀöŠė ĒúąÖĉÝÖøøö ÿŠÜđÿøĉöÖćøêúćéĒúąïĆîđìĉÜÙüïÙĎĕŠ ðÖĆïÖćøóĆçîćÙčèõćóïøĉÖćøĒúąÿČĂę ēÛþèćìĊöę ĔĊ ĀšïøĉÖćøĂ÷ĎĔŠ îðŦÝÝčïîĆ ĔĀšđðŨîìĊ÷ę ĂöøĆï ĒúąÿøšćÜÙüćöóċÜóĂĔÝÿĎÜÿčéĔĀšÖĆïúĎÖÙšć ēé÷øŠüööČĂÖĆïóĆîíöĉêøìćÜíčøÖĉÝìĆĚÜĔîĒúąêŠćÜðøąđìý ðøĆïđðúĊę÷îöćêøåćîøąïïïøĉĀćøÙčèõćó IS0 001 2000 đðŨî IS0 001 2008 đóČęĂĔĀšÖćøðäĉïĆêĉöĊÙüćößĆéđÝî öćÖ×ċĚîĒúąÿćöćøëîĞćĕððøą÷čÖêŤĔĀšđ×šćÖĆïÜćî×ĂÜĂÜÙŤÖøĕéšĂ÷ŠćÜöĊðøąÿĉìíĉõćóĒúąðøąÿĉìíĉñú óĆçîćïčÙúćÖø×ĂÜĂÜÙŤÖø đóČęĂđðŨîĂÜÙŤÖøßĆĚîîĞćõć÷ĔêšÿēúĒÖî Total Solution 1rovider

ðŘ 2553

àČĚĂĀčšî×ĂÜ ïøĉþĆì öćÿđêĂøŤ ĒĂîéŤ öĂøŤ ÝĞćÖĆéÝćÖ ïÝÖ. đÙúĊ÷øŤ ĒßîĒîúĒðàĉôŗÙóĊ ìĊĂĊ úĉ öĉđêĘé ÝĞćîüî 650,000 Āčšî ìĞćĔĀšïøĉþìĆ đðŨîñĎëš ĂČ Āčîš Ĕî ïøĉþìĆ öćÿđêĂøŤ ĒĂîéŤ öĂøŤ ÝĞćÖĆé ÝĞćîüî 2,000,000 Āčîš ĀøČĂÙĉéđðŨîÿĆéÿŠüîÖćøëČĂĀčîš 100 øŠüöúÜìčîÖĆïïøĉþĆì üĊïĉěÖ ÝĞćÖĆé ÝĆéêĆĚÜ ïøĉþĆì ÖøĊî ĒĂé ÝĞćÖĆé đóČęĂéĞćđîĉîíčøÖĉÝ ĔĀšïøĉÖćøĒúąøĆïÝšćÜñúĉêÿČęĂēÛþèćĒñÜ ñîĆÜêšîĕöš ìĆÜĚ õć÷îĂÖĒúąõć÷ĔîìĊĂę ÷ĎĂŠ ćýĆ÷ ēé÷öĊìîč ÝéìąđïĊ÷îÝĞćîüî 5,000,000. ïćì ĒïŠÜĂĂÖđðŨî 1,000,000 Āčîš öĎúÙŠć Āčîš úą 5 ïćì ïøĉþìĆ öćÿđêĂøŤ ĒĂé ÝĞćÖĆé öĀćßî ëČĂĀčîš ĔîÿĆéÿŠüî 51 Ēúą ïøĉþìĆ üĊïÖĉě ÝĞćÖĆé ëČĂĀčîš ĔîÿĆéÿŠüî 4

ðŘ 2554

øŠüöúÜìčîÖĆï ïøĉþĆì ĂĉîđéĘÖàŤ ÙøĊđĂìĊô üĉúđúÝ ÝĞćÖĆé öĀćßî ÝĆéêĆĚÜïøĉþĆì ïøĉþĆì ĒöĘÖàŤ ÙøĊđĂìĊô ÝĞćÖĆé đóČęĂĔĀšïøĉÖćø ĒúąøĆïÝšćÜñúĉêÿČęĂēÛþèć ĒúąÖĉÝÖøøöÿŠÜđÿøĉöÖćøêúćé ìĆĚÜõć÷ĔîĒúąõć÷îĂÖìĊęĂ÷ĎŠĂćýĆ÷ ēé÷öĊìčîÝéìąđïĊ÷î 5,000,000 ïćì ĒïŠÜĂĂÖđðŨî 50,000 Āčšî öĎúÙŠćĀčšîúą 100 ïćì ïøĉþĆì öćÿđêĂøŤ ĒĂé ÝĞćÖĆé öĀćßî ëČĂĀčšîĔîÿĆéÿŠüî 50 Ēúą ïøĉþĆì ĂĉîđéĘÖàŤ ÙøĊđĂìĊô üĉúđúÝ ÝĞćÖĆé öĀćßî ëČĂĀčšîĔîÿĆéÿŠüî 50

25 øŠüöÖĆï ïøĉþĆì ĂĉîđéĘÖàŤ ÙøĊđĂìĊô üĉúđúÝ ÝĞćÖĆé öĀćßî Ēúą ïøĉþĆì éĊĕàîŤ 103 ĂĉîđêĂøŤđîßĆęîĒîú ÝĞćÖĆéĒúąïøĉþĆì éĊĕàîŤ 103 ÝĞćÖĆé ÝĆéêĆÜĚ îĉêïĉ Ùč ÙúøŠüöÙšć Ĕîîćö ÖĉÝÖćøøŠüöÙšć ĂĉîđéĘÖàŤ éĊ103 öćøŤēÖš đóČĂę øĆïÖćøüŠćÝšćÜÝćÖ ÖøöìøĆó÷ćÖø ìćÜìąđúĒúąßć÷òŦũÜ ÖøąìøüÜìøĆó÷ćÖøìćÜíøøößćêĉĒúąÿĉęÜĒüéúšĂöĔîÖćø ĂĂÖĒïï ÝĆéìĞć ðøĆïĒêŠÜóČĚîìĊę ÝĆéĒÿéÜ îĉìøøýÖćø×ĂÜðøąđìýĕì÷ĔîÜćî Ķ:eosu International &xposition 2012ķ è đöČĂÜ ÷ĂàĎ ÿćíćøèąøĆåđÖćĀúĊĔêš ßŠüÜøą÷ąđüúćêĆĚÜĒêŠ 12 óùþõćÙö 2555 ëċÜüĆîìĊę 12 ÿĉÜĀćÙö 2555 ÿĆéÿŠüîÖćøúÜìčî 20 ïøĉþĆì öćÿđêĂøŤ ĒĂé ÝĞćÖĆé öĀćßî ĕéšøĆïøćÜüĆú S&T "wards éšćîÖćøøć÷ÜćîïøøþĆìõĉïćúéĊđ÷Ċę÷ö Top $orporate (overnance 3eport "wards ðøąđõìïøĉþĆìÝéìąđïĊ÷îĔîêúćéĀúĆÖìøĆó÷Ť mai ìĊęöĊÙąĒîîéšćîÖćøøć÷ÜćîïøøþĆìõĉ ïćúÿĎÜÿčé ÝćÖÜćî S&T "wards 2011 ðŘ 2555

ðøĆïðøčÜøĎðĒïïÿČęĂ $ity Vision #TS ÝĞćîüî 20 ÿëćîĊ øüö 188 ðŜć÷ĔĀšöĊøĎðĒïïìĊęìĆîÿöĆ÷đóČęĂÿøšćÜÙüćöēééđéŠî Ēúą đóĉęööĎúÙŠćĔĀšÖĆïÿČęĂēÛþèć ĒúąêĆüÿĉîÙšć ïøĉþĆì öćÿđêĂøŤ ĒĂé ÝĞćÖĆé öĀćßî ĕéšøĆïÙĆéđúČĂÖĔĀšđðŨîĀîċęÜĔî "sia’s 200 #est 6nder a #illion àċęÜĕéšöćÝćÖÖćø ÙšîĀćÿčé÷ĂéïøĉþĆìÝćÖ 00 ĒĀŠÜìĆęüõĎöĉõćÙđĂđßĊ÷ĒðàĉôŗÖìĊęöĊöĊ÷Ăé×ć÷êĆĚÜĒêŠ 5 úšćî 1,000 úšćîđĀøĊ÷âÿĀøĆåĄ ĒúąöĊ ÖćøđêĉïēêìĆĚÜ÷Ăé×ć÷ĒúąÖĞćĕøÿčìíĉēééđéŠî ïøĉþĆì öćÿđêĂøŤ ĒĂé ÝĞćÖĆé öĀćßî ĕéšøĆïøćÜüĆú 2 øćÜüĆú ĕéšĒÖŠ øćÜüĆúñĎšïøĉĀćøÿĎÜÿčé÷Ăéđ÷Ċę÷ö #est $&0 "wards

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ภาพรวมการประกอบธุรกิจของกลุ่มบริษัท

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บริษัท มาสเตอร์ แอด จำกัด (มหาชน) บจก. มาสเตอร์ แอนด์ มอร์

80 %

บจก. มาโก้ ไรท์ซายน์์ 33 .3 3%

บจก. อิงค์เจ็ท อิมเมจเจส ส (ประเทศไทย)

บจก. แลนดี้ ดีเวลลอปเม้นท์ 51

บจก. กรีนแอด

บจก. เทค อะ ลุค

บจก. แม็กซ์ ครีเอทีฟ

ïøĉþĆì öćÿđêĂøŤ ĒĂé ÝĞćÖĆé öĀćßî

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ÿČęĂēìøìĆýîŤ 68,105,054 57.83 62,238,071 5 .41 5,866, 83 .43 ÿČęĂüĉì÷č 6,348, 27 5.3 5, 17,651 5.65 431,276 7.2 ÿČęĂĀîĆÜÿČĂóĉöóŤ 15,182,670 12.8 14,541,0 2 13.88 641,578 4.41 ÿČęĂîĉê÷ÿćø 5,220,532 4.43 5,824,258 5.56 603,726 10.37 ÿČęĂēøÜõćó÷îêŤ 12,112,654 10.2 7,224,032 6. 0 4,888,622 67.67 ÿČęĂĂĉîđêĂøŤđîĘê 572,502 0.4 470,007 0.45 102,4 5 21.81 ÿČęĂēÛþèćîĂÖïšćî 10,217,205 8.68 8,53 ,071 8.15 1,678,134 1 .65 øüööĎúÙŠć 117,75 ,543 100 104,754,182 100 13,005,361 12.42 3emark Total Industry &xclude Section $lassiųed, House ads. ×šĂöĎúÝćÖ The /ielsen $ompany Thailand -td. Ĕî×èąìĊÿę ĂČę ēÛþèćîĂÖïšćîöĊÖćøđêĉïēêÝćÖðŘ 2554 đðŨîđöĘéđÜĉî 1,678 úšćîïćì ÙĉéđðŨîĂĆêøćÖćøđêĉïēêĂ÷ĎìŠ Ċę 1 .65 ēé÷öĊöúĎ ÙŠć øüöìĆĚÜðŘĂ÷ĎŠìĊę 10,217 úšćîïćì öćÖÖüŠćðŘ 2554 ìĊęêĆüđú×øüöĂ÷ĎŠìĊę 8,53 úšćîïćì Öćøđêĉïēê×ĂÜÿČęĂēÛþèćîĂÖïšćîĔîðŘ 2555 îĊĚ ēé÷õćóøüö×ĂÜÿČęĂēÛþèćîĂÖïšćîđêĉïēêÿĎÜÖüŠćĂčêÿćĀÖøøöÖćøēÛþèćĂ÷ĎŠìĊę 7.23 đðŨîÖćøđêĉïēêĔîìčÖðøąđõìÿČęĂðøąÖĂïéšü÷ðŜć÷ēÛþèćìĆĚÜ×îćéđúĘÖĒúąĔĀâŠ öĊöĎúÙŠć 4,524 úšćîïćì đêĉïēê 5.7 ÿČęĂđÙúČęĂîìĊę Transit öĊöĎúÙŠć 2, 5 úšćîïćì đêĉïēê 11. ĒúąÿČęĂĔîøšćîÙšć in store öĊöĎúÙŠć 2,732 úšćîïćì đêĉïēê 68.85 ìĆĚÜîĊĚÖćøđêĉïēê×ĂÜÿČęĂîĂÖïšćîéĆÜÖúŠćü öćÝćÖðŦÝÝĆ÷đýøþåÖĉÝđêĉïēê ĒúąÿëćîÖćøèŤÖćøđöČĂÜìĊęÿÜï ìĞćĔĀšÿĉîÙšćĒúąĒïøîéŤ êŠćÜė ĔßšÜïēÛþèćĒúąÿČęĂÿćøÖćøêúćé đóČęĂÿøšćÜ÷Ăé×ć÷ĒúąÖøąêčšîÖĞćúĆÜàČĚĂñĎšïøĉēõÙĂ÷ŠćÜêŠĂđîČęĂÜ ēé÷đÞóćąĂčêÿćĀÖøøöøë÷îêŤ íčøÖĉÝ ĂÿĆÜĀćøĉöìøĆó÷Ť ÿĉîÙšćĂčðēõÙ ïøĉēõÙ àċęÜđðŨîÖúčŠöĀúĆÖĔîÖćøĔßšÿČęĂîĂÖïšćî öĊÖćøĔßšÜïðøąöćèđóĉęö×ċĚîĔîßŠüÜÙøċęÜðŘĒøÖ ÿŠÜñúĔĀšõćóøüö đêĉïēêÿĎÜ ĒúąĔîßŠüÜðúć÷ðŘíčøÖĉÝēìøÙöîćÙöàċęÜđðŗéêĆü 3ÝĊ đ×šćöćöĊïìïćìÿĞćÙĆâĔîÖćøĔßšÜïēÛþèćÿČęĂîĂÖïšćîđóĉęö×ċĚîđßŠîÖĆî ĂĊÖðŦÝÝĆ÷ÿĞćÙĆâìĊÿę ÜŠ ñúêŠĂÖćøđêĉïēê×ĂÜÿČĂę ēÛþèćîĂÖïšćî ĔîðŘ 2555 ÙČĂÜćîÿøšćÜÿøøÙŤĕĂđéĊ÷ĒðúÖĔĀöŠìöĊę öĊ ćÖ×ċîĚ øüöìĆÜĚ ñÿćî ÖćøĔßšéĉÝĉìĆú öĊđéĊ÷ öćîĞćđÿîĂñúÜćî đóČęĂÿøšćÜÿøøÙŤÜćîìĊęđðŨî ĶìĂúŤÙ ĂĂô đéĂą ìćüîŤķ ìĞćĔĀšÿĉîÙšćêŠćÜė ĀĆîöćĔßšÿČęĂēÛþèćîĂÖïšćî đóČęĂêĂïēÝì÷ŤÖćøÿøšćÜÖćøøĆïøĎšĔîĒïøîéŤ Ēúąđ×šćëċÜñĎšïøĉēõÙĒìîÿČęĂĀúĆÖ àċęÜÿČęĂîĂÖïšćîìĊę öĊîüĆêÖøøöÖćøÿČęĂÿćøĒðúÖĔĀöŠĂ÷ĎŠêúĂéđüúć ÝċÜĕéšøĆïÙüćöÿîĔÝ ÿĞćĀøĆïðŘ 2556 ÙćéÖćøèŤüćŠ ĂčêÿćĀÖøøöēÛþèćÝąöĊđÿëĊ÷øõćóöćÖ×ċîĚ đîČĂę ÜÝćÖ ðŦÝÝĆ÷ìĆÜĚ 3 éšćî ÙČĂ 1.ÙŠćĒøÜìĊđę óĉöę ×ċîĚ ÿŠÜñúĔĀšñïšĎ øĉēõÙĔßšÝćŠ ÷ĀöčîđüĊ÷îöćÖĔîêúćé 2.øĆåïćú ĔßšÝćŠ ÷ÜïēÛþèćđóĉöę ×ċîĚ đóČĂę Öøąêčîš êúćéñĎïš øĉēõÙ 3.ÖćøđðŗéðøąßćÙöđýøþåÖĉÝĂćđàĊ÷îĀøČĂ đĂĂĊàĊ "&$ ìĊęÝąđ×šćöćÿŠÜñúĔĀšîĆÖúÜìčîêŠćÜßćêĉđ×šćöćìĞćíčøÖĉÝĔîðøąđìýĕì÷öćÖ×ċĚî ĔîðŘ 2556 îĊĚÿČęĂìĊęÝąĕéšøĆïÙüćöÿîĔÝđðŨîĂ÷ŠćÜöćÖÙČĂÿČęĂéĉÝĉêĂú đîČęĂÜÝćÖðŦÝÝčïĆî ñĎïš øĉēõÙÙîĕì÷öĊĕúôşÿĕêúŤßĂïÙüćöđðŨîÿŠüîêĆüöćÖ×ċîĚ ĒêŠêĂš ÜÖćøÿĆÜÙöĔîøĎðĒïïĂĂîĕúîŤ ÙüïÙĎŠĕðéšü÷ ĂĊÖìĆĚÜĒóúêôĂøŤöìĊęñĎšïøĉēõÙĔßšÖĘöĊöćÖÖüŠćĀîċęÜ ĒêŠÙîøčŠîĔĀöŠ÷ĆÜîĉ÷öĔßšßĊüĉê Ă÷ĎŠîĂÖïšćîöćÖÖüŠćĔîïšćî éĆÜîĆĚî ÿČęĂéĉÝĉêĂú ÿČęĂĂĉîÿēêøŤ ĒúąÿČęĂēÛþèćîĂÖïšćîĔî ðŦÝÝčïîĆ ÝċÜ÷ĆÜÙÜđêĉïēê àċÜę îĆÖÖćøêúćéÝĞćđðŨîêšĂÜêĂïÿîĂÜđÙøČĂę ÜöČĂÖćøêúćéĔĀšÙøĂïÙúčö ñĎšïøĉēõÙìĆĚÜĀöé

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ÖúčŠöîć÷îóéú êĆèýúćøĆÖþŤ 35,534,7 3.00 20.31 ÖúčŠöîć÷óĉđßþå öèĊøĆêîąóø 34,546,462.00 1 .74 ÖúčŠöîć÷íüĆß öĊðøąđÿøĉåÿÖčú 1 ,483,702.00 11.13 îć÷üĉßĉê éĉúÖüĉúćý , 46,673.00 5.68 îćÜßúúéć ôĎüĆçîýĉúðş 7,30 ,220.00 4.18 îć÷ìüĊøĆß ðøčÜóĆçîÿÖčú 3,502,000.00 2.00 î.ÿ.îčßüćøĊ ĂĆßîąóøÖčú 2,572,500.00 1.47 óĆîđĂÖĀâĉÜÖĉêĉ÷ć ÝĆîìøîĉöą 2,527,74 .00 1.44 îćÜÿčõćõøèŤ ÝĉîéćöèĊēøÝîŤ 2,27 ,200.00 1.30 ñĎšëČĂĀčšîĂČęîė 57,2 7,563.00 32.74 100.00 øüö 174, ,563.00 Āöć÷đĀêč úĞćéĆïìĊę 1 3 îĆïøüöïčÙÙúíøøöéćìĊęöĊÙüćöđÖĊę÷ü×šĂÜêćöìĊęÖĞćĀîéĔî 2 ×ĂÜîĉ÷ćö ĶïčÙÙúìĊęöĊÙüćöđÖĊę÷ü×šĂÜķ Ĕîöćêøć 8 1 ĒĀŠÜ ó.ø.ï. ĀúĆÖìøĆó÷ŤĄ Ēúą îĉêĉïčÙÙúìĊęöĊÙüćöđÖĊę÷ü×šĂÜêćöìĊęÖĞćĀîéĔî 3 ×ĂÜîĉ÷ćö ĶïčÙÙúìĊęöĊ ÙüćöđÖĊę÷ü×šĂÜķ Ĕîöćêøć 8 1 ĒĀŠÜ ó.ø.ï. ĀúĆÖìøĆó÷ŤĄ นโยบายจ่ายเงินปันผล

ïøĉþĆìöĊîē÷ïć÷ÖćøÝŠć÷đÜĉîðŦîñúĔĀšĒÖŠñĎšëČĂĀčšîĔîĂĆêøćĕöŠîšĂ÷ÖüŠćøšĂ÷úą 50 ×ĂÜÖĞćĕøÿčìíĉĀúĆÜĀĆÖõćþĊđÜĉîĕéšîĉêĉïčÙÙúĒúąÿĞćøĂÜ êćöÖãĀöć÷ìĆĚÜîĊĚ×ċĚîĂ÷ĎŠÖĆïõćüąđýøþåÖĉÝĒúąÖćøéĞćđîĉîÜćîĔîĂîćÙêđðŨîÿĞćÙĆâ นโยบายจ่ายเงินปันผลของบริษัทย่อย

ïøĉþĆì÷ŠĂ÷öĊîē÷ïć÷ÖćøÝŠć÷đÜĉîðŦîñúĔĀšĒÖŠñĎšëČĂĀčšîĔîĂĆêøćĕöŠîšĂ÷ÖüŠćøšĂ÷úą 50 ×ĂÜÖĞćĕøÿčìíĉĀúĆÜĀĆÖõćþĊđÜĉîĕéšîĉêĉïčÙÙúĒúą ÿĞćøĂÜêćöÖãĀöć÷ìĆĚÜîĊĚ×ċĚîĂ÷ĎŠÖĆïõćüąđýøþåÖĉÝĒúąÖćøéĞćđîĉîÜćîĔîĂîćÙêđðŨîÿĞćÙĆâ

คณะกรรมการ บริหารความเสี่ยง

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ประธานเจ้าหน้าที่บริหาร / กรรมการผู้จัดการ

คณะกรรมการบริหาร

คณะกรรมการบริษัท

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โครงสร้างการจัดการ

ส่วนโครงการ 3 (NIB)

ส่วนโครงการ 2 (Event)

ฝ่ายพัฒนาธุรกิจและ นวัตกรรมสื่อโฆษณา

ผู้ช่วยประธาน เจ้าหน้าที่บริหาร

32 การจัดการ

ēÙøÜÿøšćÜÖćøÝĆéÖćø×ĂÜïøĉþìĆ ðøąÖĂïéšü÷ÙèąÖøøöÖćøìĆÜĚ Āöé 3 ßčé ĕéšĒÖŠ ÙèąÖøøöÖćøïøĉþìĆ ÙèąÖøøöÖćøêøüÝÿĂï Ùèą ÖøøöÖćøïøĉĀćø โครงสร้างกรรมการของบริษัท

ĂÜÙŤðøąÖĂï×ĂÜÙèąÖøøöÖćø ĂÜÙŤðøąÖĂï×ĂÜÙèąÖøøöÖćøđðŨîĕðêćöĀúĆÖđÖèæŤ×ĂÜÿĞćîĆÖÜćîÙèąÖøøöÖćøÖĞćÖĆïĀúĆÖìøĆó÷ŤĒúąêúćéĀúĆÖìøĆó÷Ť Öúê. éĆÜîĊĚ Ļ öĊÖøøöÖćøĂĉÿøąĂ÷ŠćÜîšĂ÷ 1 Ĕî 3 ×ĂÜÝĞćîüîÖøøöÖćøìĆĚÜĀöé ĒúąĕöŠîšĂ÷ÖüŠć 3 Ùî Ļ öĊÙèąÖøøöÖćøêøüÝÿĂïĂ÷ŠćÜîšĂ÷ 3 Ùî îĉ÷ćöÙèąÖøøöÖćø ÖøøöÖćøìĊęđðŨîñĎšïøĉĀćø Āöć÷ëċÜ ñĎšïøĉĀćøìĊęöĊĂĞćîćÝĔîÖćøïøĉĀćøÜćî ĒúąĕéšøĆïđÜĉîđéČĂîðøąÝĞć ìĊęĕéšøĆïÖćøĒêŠÜêĆĚÜđðŨîÖøøöÖćø ÖøøöÖćøìĊęĕöŠđðŨîñĎšïøĉĀćø Āöć÷ëċÜ ÖøøöÖćøìĊęĕöŠĕéšöĊêĞćĒĀîŠÜđðŨîñĎšïøĉĀćø×ĂÜïøĉþĆìĒúąĕöŠöĊđÜĉîđéČĂîðøąÝĞć ÖøøöÖćøĂĉÿøą Āöć÷ëċÜ ÖøøöÖćøìĊęĕöŠĕéšđðŨîñĎšïøĉĀćøĒúąêšĂÜöĊÙčèÿöïĆêĉêćö×šĂÖĞćĀîé×ĂÜÿĞćîĆÖÜćî Öúê. ĒúąêúćéĀúĆÖìøĆó÷Ť ÙèąÖøøöÖćøĒêŠúąßčéöĊēÙøÜÿøšćÜ Ēúą×Ăïđ×êĂĞćîćÝĀîšćìĊęêćöìĊęĕéšÖĞćĀîéĕüš öĊøć÷úąđĂĊ÷ééĆÜîĊĚ ÙèąÖøøöÖćøïøĉþĆì ÖøøöÖćøïøĉþìĆ öĊÙüćöøĆïñĉéßĂïĔîÖćøêĆéÿĉîĔÝéĞćđîĉîÜćîìĊÝę ąđðŨîðøąē÷ßîŤĒÖŠïøĉþìĆ ñĎëš ĂČ Āčîš ĒúąñĎöš ÿĊ üŠ îĕéšđÿĊ÷ ĒúąđðŨîñĎÖš ćĞ Āîé üĉÿ÷Ć ìĆýîŤ îē÷ïć÷ øüöìĆÜĚ ÜïðøąöćèĔîÖćøéĞćđîĉîÜćîøŠüöÖĆïòść÷ïøĉĀćøêšĂÜöĊÙè č ÿöïĆêĒĉ úąĕöŠöúĊ ÖĆ þèąêšĂÜĀšćöêćöìĊÖę ãĀöć÷üŠćéšü÷ïøĉþìĆ öĀćßîÖĞćĀîé øüöìĆĚÜêšĂÜ ĕöŠöĊúĆÖþèąìĊęĒÿéÜëċÜÖćø×ćéÙüćöđĀöćąÿöìĊęÝąĕéšøĆïÙüćöĕüšüćÜĔÝĔĀšïøĉĀćøÖĉÝÖćøìĊęöĊöĀćßîđðŨîñĎšëČĂĀčšîêćö ìĊęÿĞćîĆÖÜćîÙèąÖøøöÖćøÖĞćÖĆïĀúĆÖìøĆó÷ŤĒúąêúćéĀúĆÖìøĆó÷Ť Ö.ú.ê. ðøąÖćýÖĞćĀîé ēé÷ÙèąÖøøöÖćøïøĉþĆìÝąêšĂÜöĊĕöŠîšĂ÷ÖüŠć 5 Ùî ĒúąĕöŠđÖĉî 12 Ùî đúČĂÖêĆÜĚ ēé÷ìĊðę øąßčöñĎëš ĂČ Āčîš ĒúąÖøøöÖćøĕöŠîĂš ÷ÖüŠćÖċÜę ĀîċÜę ×ĂÜÖøøöÖćøìĆÜĚ ÙèąÝąêšĂÜöĊëîĉę ìĊĂę ÷ĎĔŠ îøćßĂćèćÝĆÖø ðŦÝÝčïîĆ ÖøøöÖćøïøĉþĆìöĊÝĞćîüî 10 ìŠćî ðøąÖĂïéšü÷ 1. ÖøøöÖćøìĊęĕöŠđðŨîñĎšïøĉĀćø 8 ìŠćî ēé÷ĔîÝĞćîüîîĊĚöĊÖøøöÖćøĂĉÿøąÝĞćîüî 5 ìŠćî øüöĂ÷ĎŠéšü÷ 2. ÖøøöÖćøìĊęđðŨîñĎšïøĉĀćøÝĞćîüî 2 ìŠćî ÙČĂ ðøąíćîđÝšćĀîšćìĊęïøĉĀćøĒúą ñĎšßŠü÷ðøąíćîđÝšćĀîšćìĊęïøĉĀćøòść÷ïĆâßĊÖćøđÜĉî üćøąĔîÖćøéĞćøÜêĞćĒĀîŠÜ ĔîÖćøðøąßčöÿćöĆâðøąÝĞćðŘìčÖÙøĆĚÜ ĔĀšÖøøöÖćøĂĂÖÝćÖêĞćĒĀîŠÜ 1 Ĕî 3 đðŨîĂĆêøć ëšćÝĞćîüîÖøøöÖćøìĊęÝąĒïŠÜĂĂÖđðŨî 3 ÿŠüî ĕöŠĕéš ÖĘĔĀšĂĂÖēé÷ÝĞćîüîĔÖúšìĊęÿčéÖĆïÿŠüî 1 Ĕî 3 ìĆĚÜîĊĚÖøøöÖćøñĎšĂĂÖÝćÖêĞćĒĀîŠÜêćöüćøąîĆĚîĂćÝëĎÖđúČĂÖđ×šćéĞćøÜêĞćĒĀîŠÜĂĊÖÖĘĕéš

33 øć÷ßČęĂÖøøöÖćøĒúąÖćøëČĂÙøĂÜĀčšî è üĆîìĊę 31 öÖøćÙö 2556 ðøąÖĂïéšü÷ ชื่อ-สกุล

ตําแหน่ง

วันที่เข้ามา ดํารงตําแหน่ง

1. ø.ê.ê.đÖøĊ÷ÜýĆÖéĉĝ ēúĀąßćúą 2. îć÷ðćøđöýøŤ øĆßĕß÷ïčâ 3. îć÷îóéú êĆèýúćøĆÖþŤ 4. îć÷óĉđßþå öèĊøĆêîąóø 5. îć÷íüĆß öĊðøąđÿøĉåÿÖčú 6. îć÷üĉßĉê éĉúÖüĉúćý 7. îć÷ðøąđÿøĉå üĊøđÿëĊ÷øóøÖčú 8. îć÷óøýĆÖéĉĝ úĉĚöïčâ÷ðøąđÿøĉå . îćÜĂčïúøĆêîŤ ēóíĉĝÖöúüÜýŤ 10. îćÜÿćüíöîüøøè îøĉîìüćîĉß

ðøąíćîÖøøöÖćø øĂÜðøąíćîÖøøöÖćøïøĉþĆì ÖøøöÖćø ÖøøöÖćø ÖøøöÖćø ÖøøöÖćø ÖøøöÖćø ÖøøöÖćø ÖøøöÖćø ÖøøöÖćø

22 đö.÷. 51 1 ó.Ù. 46 1 ó.Ù. 46 1 ó.Ù. 46 1 ó.Ù. 46 1 ó.Ù. 46 1 ó.Ù. 46 22 đö.÷. 51 8 ÿ.Ù. 54 22 đö.÷. 51

Āöć÷đĀêč

วันที่ได้รับ จํานวนปีที่ จํานวนหุ้นที่ อัตราส่วน แต่งตั้ง ดํารงตําแหน่ง ถือครอง การถือ (ล่าสุด) กรรมการ หุ้น

22 đö.÷. 54 27 đö.÷. 55 27 đö.÷. 55 22 đö.÷. 53 22 đö.÷. 53 27 đö.÷. 55 22 đö.÷. 52 22 đö.÷. 53 8 ÿ.Ù. 54 22 đö.÷. 54

5 ðŘ ðŘ ðŘ ðŘ ðŘ ðŘ ðŘ 5 ðŘ 2 ðŘ 5 ðŘ

ĕöŠöĊ ĕöŠöĊ 35,534,7 3 34,546,462 1 ,483,702 , 46,673 ĕöŠöĊ ĕöŠöĊ ĕöŠöĊ 41, 68

20.31 1 .74 11.13 5.68 0.02

1. ÝĞćîüîĀčšî îĆïøüöïčÙÙúíøøöéćìĊęöĊÙüćöđÖĊę÷ü×šĂÜêćöìĊęÖĞćĀîéĔî 2 ×ĂÜîĉ÷ćö ĶïčÙÙúìĊęöĊÙüćöđÖĊę÷ü×šĂÜķ Ĕîöćêø 8 1 ĒĀŠÜ ó.ø.ï. ĀúĆÖìøĆó÷ŤĄ Ēúą îĉêĉïčÙÙúìĊęöĊÙüćöđÖĊę÷ü×šĂÜêćöìĊęÖĞćĀîéĔî 3 ×ĂÜîĉ÷ćö ĶïčÙÙúìĊęöĊÙüćöđÖĊę÷ü×šĂÜķ Ĕîöćêøć 8 1 ĒĀŠÜ ó.ø.ï. ĀúĆÖìøĆó÷ŤĄ 2. ÖøøöÖćøøć÷ìĊę 3 Ēúąøć÷ìĊę 10 đðŨîñĎšïøĉĀćøìĊęđ×šćøŠüöēÙøÜÖćøøŠüöúÜìčîøąĀüŠćÜîć÷ÝšćÜĒúąúĎÖÝšćÜ×ĂÜïøĉþĆìÝéìąđïĊ÷î &+I1

3. ÙèąÖøøöÖćøêøüÝÿĂïøć÷ìĊę 8 Ēúą đðŨîñĎšöĊÙüćöøĎšĒúąðøąÿïÖćøèŤĔîÖćøÿĂïìćîÜïÖćøđÜĉî 4. ÖøøöÖćøøć÷ìĊę 1 2 Ēúą 7 đðŨî ÖøøöÖćøĂĉÿøą

ÖøøöÖćøñĎšöĊĂĞćîćÝúÜîćöñĎÖóĆî ÖøøöÖćøñĎšöĊĂĞćîćÝúÜúć÷öČĂßČęĂĒìîïøĉþĆì ÙČĂ îć÷îóéú êĆèýúćøĆÖþŤ Ēúą îćÜÿćüíöîüøøè îøĉîìüćîĉß úÜúć÷öČĂßČęĂøŠüöÖĆî ĒúąðøąìĆïêøćÿĞćÙĆâ×ĂÜïøĉþĆì ×Ăïđ×êĂĞćîćÝĀîšćìĊę×ĂÜÖøøöÖćøïøĉþĆì ÖøøöÖćøïøĉþĆìöĊ×Ăïđ×êĂĞćîćÝĀîšćìĊęéĆÜêŠĂĕðîĊĚ 1. ÝĆéÖćøïøĉþĆìēé÷ĔßšÙüćöøĎš ÙüćöÿćöćøëĒúąðøąÿïÖćøèŤĔĀšđðŨîðøąē÷ßîŤêŠĂÖćøéĞćđîĉîíčøÖĉÝ×ĂÜïøĉþĆì đóČęĂĔĀšđðŨîĕð êćöÖãĀöć÷ üĆêëčðøąÿÜÙŤ Ēúą×šĂïĆÜÙĆï×ĂÜïøĉþĆì êúĂéÝîöêĉìĊęðøąßčöñĎšëČĂĀčšî×ĂÜïøĉþĆìéšü÷ÙüćöøąöĆéøąüĆÜđóČęĂøĆÖþć ñúðøąē÷ßîŤ×ĂÜïøĉþĆì ĒúąøĆïñĉéßĂïêŠĂñĎšëČĂĀčšî 2. öĊĀîšćìĊĔę îÖćøìïìüîĒúąĔĀšÙüćöđĀĘîßĂïîē÷ïć÷ĒúąìĉýìćÜÖćøéĞćđîĉîÜćî×ĂÜïøĉþìĆ ìĊđę ÿîĂēé÷ÙèąÖøøöÖćøïøĉĀćø đüšî ĒêŠđøČĂę ÜìĊÙę èąÖøøöÖćøïøĉþìĆ êšĂÜĕéšøïĆ ĂîčöêĆ Ýĉ ćÖìĊðę øąßčöñĎëš ĂČ Āčîš ×ĂÜïøĉþìĆ ĕéšĒÖŠ đøČĂę ÜìĊÖę ãĀöć÷ÖĞćĀîéĔĀšêĂš ÜĕéšøïĆ ĂîčöêĆ ĉ ÝćÖìĊęðøąßčöñĎšëČĂĀčšî 3. öĊĀîšćìĊęĔîÖćøÖĞćÖĆïéĎĒúĔĀšÙèąÖøøöÖćøïøĉĀćøéĞćđîĉîÖćøêćöîē÷ïć÷ìĊęÖĞćĀîéĕüšĂ÷ŠćÜöĊðøąÿĉìíĉõćó ĒúąĒÝšÜĔĀšÙèą ÖøøöÖćøïøĉĀćøîĞćđÿîĂđøČęĂÜìĊęöĊÿćøąÿĞćÙĆâêŠĂÖćøéĞćđîĉîÜćî×ĂÜïøĉþĆì øć÷ÖćøøąĀüŠćÜïčÙÙúìĊęđÖĊę÷üē÷ÜÖĆîĒúąĂČęîė ĔĀš óĉÝćøèćēé÷đðŨîĕðêćöøąđïĊ÷ï ×šĂïĆÜÙĆï×ĂÜÿĞćîĆÖÜćîÙèąÖøøöÖćø Ö.ú.ê. ĒúąêúćéĀúĆÖìøĆó÷ŤĒĀŠÜðøąđìýĕì÷ ìĆĚÜîĊĚĀćÖ

34 1. öĊÖćøêĆéÿĉîĔÝđøČęĂÜìĊęöĊñúêŠĂÖćøéĞćđîĉîíčøÖĉÝĂ÷ŠćÜöĊÿćøąÿĞćÙĆâ×ĂÜïøĉþĆì ÙèąÖøøöÖćøĂćÝÖĞćĀîéĔĀšöĊÖćøüŠćÝšćÜìĊęðøċÖþć õć÷îĂÖđóČęĂĔĀšÙĞćðøċÖþćĀøČĂÙüćöđĀĘîìćÜüĉßćßĊó 2. öĊĀîšćìĊęĔîÖćøÖĞćÖĆïĔĀšïøĉþĆìöĊøąïïÖćøÙüïÙčöõć÷ĔîĒúąÖćøêøüÝÿĂïõć÷ĔîìĊęöĊðøąÿĉìíĉñú îĂÖÝćÖîĊĚ ÙèąÖøøöÖćøïøĉþĆì ÷ĆÜöĊĂĞćîćÝĀîšćìĊęĔîÖćøêĆéÿĉîĔÝĒúąéĎĒúÖćøéĞćđîĉîÜćîēé÷ìĆęüĕð×ĂÜïøĉþĆì đüšîĒêŠđøČęĂÜ éĆÜêŠĂĕðîĊĚ àċęÜÙèąÖøøöÖćøêšĂÜĕéšøĆïĂîčöĆêĉÝćÖìĊęðøąßčöñĎšëČĂĀčšîÖŠĂîéĞćđîĉîÖćø 1. đøČęĂÜìĊęÖãĀöć÷ÖĞćĀîéĔĀšêšĂÜĔßšöêĉìĊęðøąßčöñĎšëČĂĀčšî 2. đøČęĂÜÖćøìĞćøć÷ÖćøìĊęđÖĊę÷üē÷ÜÖĆî ìĆĚÜîĊĚĔĀšđðŨîĕðêćöÖãøąđïĊ÷ï×ĂÜêúćéĀúĆÖìøĆó÷ŤĒĀŠÜðøąđìýĕì÷ đøČęĂÜĀúĆÖđÖèæŤ üĉíĊÖćø ĒúąÖćøđðŗéđñ÷øć÷ÖćøìĊęđÖĊę÷üē÷ÜÖĆî×ĂÜïøĉþĆìÝéìąđïĊ÷î 3. đøČęĂÜÖćøàČĚĂĀøČĂ×ć÷ÿĉîìøĆó÷ŤÿĞćÙĆâ ìĆĚÜîĊĚĔĀšđðŨîĕðêćöÖãøąđïĊ÷ï×ĂÜêúćéĀúĆÖìøĆó÷ŤĒĀŠÜðøąđìýĕì÷đøČęĂÜĀúĆÖđÖèæŤ üĉíĊÖćø ĒúąÖćøđðŗéđñ÷×šĂöĎúđÖĊę÷üÖĆïÖćøĕéšöćĀøČĂÝĞćĀîŠć÷ĕðàċęÜÿĉîìøĆó÷Ť×ĂÜïøĉþĆìÝéìąđïĊ÷î ÙčèÿöïĆêĉ×ĂÜÖøøöÖćøĂĉÿøą ïøĉþĆìĕéšÖĞćĀîéîĉ÷ćöÖøøöÖćøĂĉÿøąĔĀšđ×šöÜüéÖüŠć×šĂÖĞćĀîé×ĆĚîêĞęć×ĂÜ Öúê.ĒúąêúćéĀúĆÖìøĆó÷ŤđóČęĂÖøøöÖćøĂĉÿøą×ĂÜïøĉþĆìöĊ ĂĉÿøąĂ÷ŠćÜĒìšÝøĉÜ ēé÷öĊøć÷úąđĂĊ÷ééĆÜîĊĚ 1. ëČĂĀčîš ĔîïøĉþìĆ ĕöŠđÖĉî 0.5 ×ĂÜÝĞćîüîĀčîš ìĊöę ÿĊ ìĉ íĉĂĂÖđÿĊ÷ÜìĆÜĚ Āöé×ĂÜïøĉþìĆ ïøĉþìĆ ĔĀâŠ ïøĉþìĆ ÷ŠĂ÷ ïøĉþìĆ øŠüö ĀøČĂîĉêïĉ Ùč Ùú ìĊęĂćÝöĊÙüćö×ĆéĒ÷šÜ ēé÷ĔĀšîĆïøüöĀčšîìĊęëČĂēé÷ñĎšìĊęđÖĊę÷ü×šĂÜéšü÷ 2. ĕöŠđðŨîÖøøöÖćøìĊęöĊÿŠüîøŠüöĔîÖćøïøĉĀćøÜćî óîĆÖÜćî úĎÖÝšćÜìĊęðøċÖþćìĊęĕéšøĆïđÜĉîđéČĂîðøąÝĞćđðŨîñĎšöĊĂĞćîćÝÙüïÙčö×ĂÜ ïøĉþĆì ïøĉþĆìĔĀâŠ ïøĉþĆì÷ŠĂ÷ ïøĉþĆìøŠüö ïøĉþĆì÷ŠĂ÷úĞćéĆïđéĊ÷üÖĆî ĀøČĂîĉêĉïčÙÙúìĊęĂćÝöĊÙüćö×ĆéĒ÷šÜ ðŦÝÝčïĆîĒúąßŠüÜ 2 ðŘ ÖŠĂîĕéšøĆïÖćøĒêŠÜêĆĚÜ

3. ĕöŠöĊÙüćöÿĆöóĆîíŤìćÜÿć÷ēúĀĉêĀøČĂēé÷ÖćøÝéìąđïĊ÷îĔîúĆÖþèąìĊęđðŨîïĉéćöćøéć ÙĎŠÿöøÿ óĊęîšĂÜ ĒúąïčêøøüöìĆĚÜÙĎŠÿöøÿ×ĂÜ ïčêø ÖĆïñĎšïøĉĀćø ñĎšëČĂĀčšîøć÷ĔĀâŠ ñĎšöĊĂĞćîćÝÙüïÙčö ĀøČĂïčÙÙúìĊęÝąĕéšøĆïÖćøđÿîĂßČęĂđðŨîñĎšïøĉĀćøĀøČĂñĎšöĊĂĞćîćÝÙüïÙčö×ĂÜ ïøĉþĆìĀøČĂïøĉþĆì÷ŠĂ÷ 4. ĕöŠöĊÙüćöÿĆöóĆîíŤìćÜíčøÖĉÝ ĕöŠöĊñúðøąē÷ßîŤĀøČĂÿŠüîĕéšđÿĊ÷ ìĆĚÜìćÜêøÜĒúąìćÜĂšĂöìĆĚÜĔîéšćîÖćøđÜĉîĒúąÖćøïøĉĀćøÜćî×ĂÜ ïøĉþĆì ïøĉþĆìĔîđÙøČĂ ïøĉþĆìøŠüö ĀøČĂïčÙÙúìĊęĂćÝöĊÙüćö×ĆéĒ÷šÜĔîúĆÖþèąìĊęìĞćĔĀš×ćéÙüćöđðŨîĂĉÿøą 5. ĕöŠđðŨîĀøČĂđÙ÷đðŨîñĎšÿĂïïĆâßĊ×ĂÜïøĉþĆì ïøĉþĆìĔĀâŠ ïøĉþĆì÷ŠĂ÷ ïøĉþĆìøŠüö ĀøČĂîĉêĉïčÙÙúìĊęĂćÝöĊÙüćö×ĆéĒ÷šÜ ĒúąĕöŠđðŨî ñĎëš ĂČ Āčîš øć÷ĔĀâŠ ÖøøöÖćøàċÜę ĕöŠĔßŠÖøøöÖćøĂĉÿøą ñĎïš øĉĀćøĀøČĂĀčîš ÿŠüîñĎÝš éĆ Öćø×ĂÜÿĞćîĆÖÜćîÿĂïïĆâßĊàÜċę ñĎÿš ĂïïĆâßĊ×ĂÜïøĉþìĆ ïøĉþìĆ ĔĀâŠ ïøĉþìĆ ÷ŠĂ÷ ïøĉþìĆ øŠüö ĀøČĂîĉêïĉ Ùč ÙúìĊĂę ćÝöĊÙüćö×ĆéĒ÷šÜÿĆÜÖĆéĂ÷ĎŠ đüšîĒêŠÝąĕéšóîš ÝćÖÖćøöĊúÖĆ þèąéĆÜÖúŠćüöćĒúšü ĕöŠîšĂ÷ÖüŠć 2 ðŘÖŠĂîüĆîìĊę÷Čęî×ĂĂîčâćêêŠĂÿĞćîĆÖÜćî 6. ĕöŠđðŨîĀøČĂđÙ÷đðŨîñĎšĔĀšïøĉÖćøìćÜüĉßćßĊóĔéė àċęÜøüöëċÜÖćøĔĀšïøĉÖćøđðŨîìĊęðøċÖþćÖãĀöć÷ĀøČĂìĊęðøċÖþćìćÜÖćøđÜĉî àċęÜĕéšøĆï ÙŠćïøĉÖćøđÖĉîÖüŠćÿĂÜúšćîïćìêŠĂðŘ ÝćÖïøĉþĆì ïøĉþĆìĔĀâŠ ïøĉþĆì÷ŠĂ÷ ïøĉþĆìøŠüö ĀøČĂîĉêĉïčÙÙúìĊęĂćÝöĊÙüćö×ĆéĒ÷šÜìĆĚÜîĊĚĔî ÖøèĊìĊęñĎšĔĀšïøĉÖćøìćÜüĉßćßĊóđðŨîîĉêĉïčÙÙú ĔĀšøüöëċÜÖćøđðŨîñĎšëČĂĀčšîøć÷ĔĀâŠ ÖøøöÖćøàċęÜĕöŠĔßŠÖøøöÖćøĂĉÿøą ñĎšïøĉĀćøĀøČĂ ĀčšîÿŠüîñĎšÝĆéÖćø ×ĂÜñĎšĔĀšïøĉÖćøìćÜüĉßćßĊóîĆĚîéšü÷ đüšîĒêŠÝąĕéšóšîÝćÖÖćøöĊúĆÖþèąéĆÜÖúŠćüöćĒúšüĕöŠîšĂ÷ÖüŠćÿĂÜðŘÖŠĂîüĆî ìĊę÷ČęîÙĞć×ĂĂîčâćêêŠĂÿĞćîĆÖÜćî 7. ĕöŠđðŨîÖøøöÖćøìĊĕę éšøïĆ ÖćøĒêŠÜêĆÜĚ ×ċîĚ đóČĂę đðŨîêĆüĒìî×ĂÜ ÖøøöÖćø×ĂÜïøĉþìĆ ñĎëš ĂČ Āčîš øć÷ĔĀâŠ ĀøČĂñĎëš ĂČ Āčîš àċÜę đðŨî ñĎšìĊęđÖĊę÷ü×šĂÜÖĆïñĎšëČĂĀčšîøć÷ĔĀâŠ×ĂÜïøĉþĆì 8. öĊüćøąÖćøéĞćøÜêĞćĒĀîŠÜêŠĂđîČęĂÜĕöŠđÖĉî 3 üćøą ĀøČĂ ðŘ ĀćÖÙøïüćøąĒúšü ĔĀšìćÜÙèąÖøøöÖćøïøĉþĆìđðŨî ñĎóš Ýĉ ćøèćÙüćöđĀöćąÿö ĒúąÙüćöÿöđĀêčÿöñúìĊÝę ąĔĀš éĞćøÜêĞćĒĀîŠÜÙèąÖøøöÖćøĂĉÿøąêŠĂĕð . öĊúĆÖþèąĂČęîĔéìĊęìĞćĔĀšĕöŠÿćöćøëĔĀšÙüćöđĀĘîĂ÷ŠćÜđðŨî ĂĉÿøąđÖĊę÷üÖĆïÖćøéĞćđîĉîÜćî×ĂÜïøĉþĆì

35 ÖćøĒêŠÜêĆĚÜ ÖćøúćĂĂÖĒúąÖćøóšîÝćÖêĞćĒĀîŠÜÖøøöÖćø ×šĂïĆÜÙĆï×ĂÜïøĉþĆìÖĞćĀîéĔĀš ÖøøöÖćø×ĂÜïøĉþĆìđúČĂÖêĆĚÜēé÷ìĊęðøąßčöñĎšëČĂĀčšî ēé÷ÖĞćĀîéĔĀšöĊÖøøöÖćøïøĉþĆìĕöŠîšĂ÷ÖüŠć 5 ìŠćî ĒúąĕöŠđÖĉî 12 ìŠćî ÖøøöÖćøĕöŠîšĂ÷ÖüŠćÖċęÜĀîċęÜ×ĂÜÝĞćîüîÖøøöÖćøìĆĚÜĀöéêšĂÜöĊëĉęîìĊęĂ÷ĎŠĔîøćßĂćèćÝĆÖø ĔîÖøèĊìĊęêĞćĒĀîŠÜüŠćÜúÜđîČęĂÜÝćÖ đĀêčĂČęîîĂÖÝćÖëċÜÙøćüêšĂÜĂĂÖêćöüćøąĔĀšÖøøöÖćøïøĉþĆìđðŨîñĎšđúČĂÖñĎšöĊÙčèÿöïĆêĉđĀöćąÿöđ×šćđðŨîÖøøöÖćøïøĉþĆìĒìîĔîÖćøðøąßčöÙøĆĚÜ ëĆéĕð ĒúąĀćÖÖøøöÖćøÙîĔéðøąÿÜÙŤÝąúćĂĂÖÝćÖïøĉþĆì ĔĀš÷ČęîĀîĆÜÿČĂúćĂĂÖēé÷ÖćøúćĂĂÖöĊñúêĆĚÜĒêŠüĆîìĊęĔïúćĂĂÖĕðëċÜïøĉþĆì ĔîÖćøðøąßčöÿćöĆâðøąÝĞćðŘìčÖÙøĆĚÜ ĔĀšÖøøöÖćøĂĂÖÝćÖêĞćĒĀîŠÜ 1 Ĕî 3 đðŨîĂĆêøć ëšćÝĞćîüîÖøøöÖćøìĊęÝąĒïŠÜĂĂÖđðŨî 3 ÿŠüî ĕöŠĕéš ÖĘĔĀšĂĂÖēé÷ÝĞćîüîĔÖúšìÿĊę éč ÖĆïÿŠüî 1 Ĕî 3 ìĆÜĚ îĊÖĚ øøöÖćøñĎĂš ĂÖÝćÖêĞćĒĀîŠÜêćöüćøąîĆîĚ ĂćÝëĎÖđúČĂÖđ×šćéĞćøÜêĞćĒĀîŠÜĂĊÖÖĘĕéš îĂÖÝćÖ ÖćøóšîêĞćĒĀîŠÜêćöüćøąĒúšü ÖøøöÖćøóšîÝćÖêĞćĒĀîŠÜđöČęĂ 1 êć÷ 2 úćĂĂÖ 3 ×ćéÙčèÿöïĆêĉĀøČĂöĊúĆÖþèąêšĂÜĀšćöêćööćêøć 68 ĒĀŠÜóøąøćßïĆââĆêĉïøĉþĆìöĀćßîÝĞćÖĆé ó.ý. 2535 4 ìĊęðøąßčöñĎšëČĂĀčšîúÜöêĉĔĀšĂĂÖêćööćêøć 76 ĒĀŠÜóøąøćßïĆââĆêĉïøĉþĆìöĀćßîÝĞćÖĆé ó.ý. 2535 5 ýćúöĊÙĞćÿĆęÜĔĀšĂĂÖ 6 îĂÖÝćÖÖćøóšîÝćÖêĞćĒĀîŠÜ×ĂÜÖøøöÖćøéšü÷đĀêčêćöìĊęÖĞćĀîéĔîÖãĀöć÷üŠćéšü÷ïøĉþĆìöĀćßîÝĞćÖĆéĒúšü ÖøøöÖćø÷ŠĂöóšî ÝćÖêĞćĒĀîŠÜđöČęĂöĊúĆÖþèąìĊęĒÿéÜëċÜÖćø×ćéÙüćöđĀöćąÿöìĊęÝąĕéšøĆïÙüćöĕüšüćÜĔÝĔĀšïøĉĀćøÝĆéÖćøÖĉÝÖćøìĊęöĊöĀćßîđðŨî ñĎëš ĂČ Āčîš êćöìĊÖę ćĞ ĀîéĔîöćêøć 8 3 ĒúąÝąéĞćøÜêĞćĒĀîŠÜÖøøöÖćøïøĉþìĆ êŠĂĕðöĉĕéš öćêøć 8 4 ó.ø.ï.ĀúĆÖìøĆó÷ŤĄ ó.ý. 2551

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36 คณะกรรมการชุดย่อย

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หมายเหตุ

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×Ăïđ×êĂĞćîćÝĀîšćìĊę×ĂÜÙèąÖøøöÖćøêøüÝÿĂï ÙèąÖøøöÖćøêøüÝÿĂïöĊ×Ăïđ×êĂĞćîćÝĀîšćìĊęéĆÜêŠĂĕðîĊĚ 1. ÿĂïìćîĔĀšïøĉþĆìöĊÖćøøć÷ÜćîìćÜÖćøđÜĉîĂ÷ŠćÜëĎÖêšĂÜĒúąđðŗéđñ÷Ă÷ŠćÜđóĊ÷ÜóĂ ēé÷ÖćøðøąÿćîÜćîÖĆïñĎšÿĂïïĆâßĊĒúą ñĎšïøĉĀćøìĊęøĆïñĉéßĂïÝĆéìĞćøć÷ÜćîìćÜÖćøđÜĉîìĆĚÜøć÷ĕêøöćÿĒúąðøąÝĞćðŘ 2. ÿĂïìćîĔĀšïøĉþĆìöĊøąïïÖćøÙüïÙčöõć÷ĔîĒúąêøüÝÿĂïõć÷ĔîìĊęöĊÙüćöđĀöćąÿöĒúąöĊðøąÿĉìíĉñú ēé÷ÿĂïìćîøŠüöÖĆï ñĎšÿĂïïĆâßĊĒúąñĎšêøüÝÿĂïõć÷Ĕî 3. ÿĂïìćîÖćøðäĉïĆêĉ×ĂÜïøĉþĆìĔĀšđðŨîĕðêćöÖãĀöć÷üŠćéšü÷ĀúĆÖìøĆó÷ŤĒúąêúćéĀúĆÖìøĆó÷Ť ×šĂÖĞćĀîé×ĂÜêúćéĀúĆÖìøĆó÷Ť ĀøČĂÖãĀöć÷ìĊęđÖĊę÷ü×šĂÜÖĆïíčøÖĉÝ×ĂÜïøĉþĆì 4. óĉÝćøèćÖćøđðŗéđñ÷×šĂöĎú×ĂÜïøĉþìĆ ĔîÖøèĊìđĊę Öĉéøć÷ÖćøđÖĊ÷ę üē÷ÜĀøČĂøć÷ÖćøìĊĂę ćÝöĊÙüćö×ĆéĒ÷šÜìćÜñúðøąē÷ßîŤĔĀšöÙĊ üćö ëĎÖêšĂÜĒúąÙøïëšüî 5. ðäĉïĆêĉÖćøĂČęîĔéêćöìĊęÙèąÖøøöÖćøïøĉþĆìöĂïĀöć÷ĒúąÙèąÖøøöÖćøêøüÝÿĂïđĀĘîßĂïéšü÷ đßŠî ìïìüîîē÷ïć÷Öćø ïøĉĀćøìćÜÖćøđÜĉîĒúąÖćøïøĉĀćøÙüćöđÿĊ÷ę Ü ìïìüîÖćøðäĉïêĆ êĉ ćöÝøø÷ćïøøèìćÜíčøÖĉÝ×ĂÜñĎïš øĉĀćø ìïìüîøŠüöÖĆïñĎïš øĉĀćø ×ĂÜïøĉþĆìĔîøć÷ÜćîÿĞćÙĆâė ìĊęêšĂÜđÿîĂêŠĂÿćíćøèßîêćöìĊęÖãĀöć÷ÖĞćĀîé ĕéšĒÖŠ ïìøć÷ÜćîĒúąüĉđÙøćąĀŤ×ĂÜòść÷ïøĉĀćø 6. óĉÝćøèćÙĆéđúČĂÖ đÿîĂĒêŠÜêĆĚÜĒúąđÿîĂÙŠćêĂïĒìîñĎšÿĂïïĆâßĊ×ĂÜïøĉþĆì 7. ÝĆéìĞćøć÷ÜćîÖĉÝÖøøö×ĂÜÙèąÖøøöÖćøêøüÝÿĂïēé÷đðŗéđñ÷ĕüšĔîøć÷ÜćîðøąÝĞćðŘ×ĂÜïøĉþĆì àċęÜøć÷ÜćîéĆÜÖúŠćüúÜîćöēé÷ ðøąíćîÖøøöÖćøêøüÝÿĂï àċęÜðøąÖĂïéšü÷×šĂöĎúéĆÜêŠĂĕðîĊĚ 7.1 ĔĀšÙüćöđĀĘîđÖĊę÷üÖĆïÖøąïüîÖćøÝĆéìĞćĒúąÖćøđðŗéđñ÷×šĂöĎúĔîøć÷ÜćîìćÜÖćøđÜĉî×ĂÜïøĉþĆìëċÜÙüćöëĎÖêšĂÜ Ùøïëšüî đðŨîìĊęđßČęĂëČĂĕéš 7.2 ĔĀšÙüćöđĀĘîđÖĊę÷üÖĆïÙüćöđóĊ÷ÜóĂ×ĂÜøąïïÖćøÙüïÙčöõć÷Ĕî×ĂÜïøĉþĆì 7.3 ĔĀšđĀêčñúìĊęđßČęĂüŠćñĎšÿĂïïĆâßĊ×ĂÜïøĉþĆìđĀöćąÿöìĊęÝąĕéšøĆïÖćøĒêŠÜêĆĚÜêŠĂĕðĂĊÖüćøąĀîċęÜ 7.4 ĔĀšÙüćöđĀĘîđÖĊę÷üÖĆïÖćøðäĉïĆêĉêćöÖãĀöć÷üŠćéšü÷ĀúĆÖìøĆó÷ŤĒúąêúćéĀúĆÖìøĆó÷Ť ×šĂÖĞćĀîé×ĂÜêúćéĀúĆÖìøĆó÷Ť ĀøČĂ ÖãĀöć÷ìĊęđÖĊę÷ü×šĂÜÖĆïíčøÖĉÝ×ĂÜïøĉþĆì 7.5 øć÷ÜćîĂČęîĔéìĊęđĀĘîüŠćñĎšëČĂĀčšîĒúąñĎšúÜìčîìĆęüĕðÙüøìøćï õć÷Ĕêš×Ăïđ×êĀîšćìĊęĒúąÙüćöøĆïñĉéßĂïìĊęĕéšøĆïöĂïĀöć÷ ÝćÖÙèąÖøøöÖćøïøĉþĆì

37 ìĆÜĚ îĊÖĚ ćøöĂïĂĞćîćÝéĆÜÖúŠćüÖøøöÖćøêøüÝÿĂïÝąĕöŠÿćöćøëĂîčöêĆ øĉ ć÷ÖćøìĊêę îĀøČĂïčÙÙúìĊĂę ćÝöĊÙüćö×ĆéĒ÷šÜöĊÿüŠ îĕéšđÿĊ÷ĀøČĂĂćÝ öĊÙüćö×ĆéĒ÷šÜìćÜñúðøąē÷ßîŤĔîúĆÖþèąĂČęîÖĆïïøĉþĆìĀøČĂïøĉþĆì÷ŠĂ÷ üćøąÖćøéĞćøÜêĞćĒĀîŠÜ đìŠćÖĆïüćøąÖćøđðŨîÖøøöÖćøïøĉþĆì 2. คณะกรรมการบริหาร

ÖøøöÖćøïøĉĀćø ðøąÖĂïéšü÷ÖøøöÖćøìĆĚÜÿĉĚî 4 ìŠćî öĊüćøąÖćøéĞćøÜêĞćĒĀîŠÜÙøćüúą 3 ðŘ ìĆĚÜîĊĚÖøøöÖćøñĎšĂĂÖÝćÖêĞćĒĀîŠÜĕð ĂćÝđúČĂÖđ×šćøĆïêĞćĒĀîŠÜĂĊÖÖĘĕéš è üĆîìĊę 31 íĆîüćÙö 2555 ÙèąÖøøöÖćøïøĉĀćø×ĂÜïøĉþĆì öĊÝĞćîüî 4 ìŠćî éĆÜîĊĚ ชื่อ-นามสกุล

1. îć÷îóéú 2. îć÷óĉđßþå 3. îć÷íüĆß 4. îć÷üĉßĉê

êĆèýúćøĆÖþŤ öèĊøĆêîąóø öĊðøąđÿøĉåÿÖčú éĉúÖüĉúćý

ตําแหน่ง

ðøąíćîÖøøöÖćø ÖøøöÖćø ÖøøöÖćø ÖøøöÖćø

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ÖøøöÖćøìĊęđðŨîñĎšïøĉĀćø ÖøøöÖćøìĊęĕöŠđðŨîñĎšïøĉĀćø ÖøøöÖćøìĊęĕöŠđðŨîñĎšïøĉĀćø ÖøøöÖćøìĊęĕöŠđðŨîñĎšïøĉĀćø

×Ăïđ×êĂĞćîćÝĀîšćìĊę×ĂÜÙèąÖøøöÖćøïøĉĀćø ÙèąÖøøöÖćøïøĉĀćøöĊ×Ăïđ×êĂĞćîćÝĀîšćìĊęĔîÖćøÙüïÙčöÖćøïøĉĀćøÜćî×ĂÜïøĉþĆìĔĀšđðŨîĕðêćöîē÷ïć÷ìĊęÙèąÖøøöÖćøïøĉþĆì ÖĞćĀîéĕüš éĆÜêŠĂĕðîĊĚ 1. ÙüïÙčöÖćøïøĉĀćøÜćî×ĂÜïøĉþĆì àċęÜÖćøéĞćđîĉîÜćî×ĂÜÙèąÖøøöÖćøïøĉĀćøĔĀšđðŨîĕðêćöîē÷ïć÷ìĊęÙèąÖøøöÖćøïøĉþĆì ÖĞćĀîéĕüš ĒúąĔĀšøć÷ÜćîñúÖćøéĞćđîĉîÜćîêŠĂÙèąÖøøöÖćøïøĉþĆì ìĆĚÜîĊĚĔîÖćøéĞćđîĉîÖćøðøąßčöÙèąÖøøöÖćøïøĉĀćøÝąêšĂÜ öĊÖøøöÖćøïøĉĀćøđ×šćðøąßčöĕöŠîšĂ÷ÖüŠćÖċęÜĀîċęÜ×ĂÜÝĞćîüîÖøøöÖćøïøĉĀćø ÿŠüîÖćøúÜöêĉ×ĂÜÙèąÖøøöÖćøïøĉĀćøÝąêšĂÜĕéš øĆïÙąĒîîđÿĊ÷Ü×šćÜöćÖÝćÖìĊðę øąßčö ĒúąÙąĒîîđÿĊ÷ÜéĆÜÖúŠćüÝąêšĂÜîĆïĕéšĂ÷ŠćÜîšĂ÷ÖċÜę ĀîċÜę ÝćÖđÿĊ÷Ü×ĂÜÙèąÖøøöÖćøïøĉĀćø ìĆĚÜĀöé ÙèąÖøøöÖćøïøĉþĆìĂćÝđĀĘîÿöÙüøìĊęÝąÖĞćĀîéđðúĊę÷îĒðúÜ ĀøČĂđóĉęöđêĉöđðŨîÙøĆĚÜÙøćüĔîđøČęĂÜ×ĆĚîêĂîÖćøðøąßčö ĂÜÙŤðøąßčö ĒúąÖćøúÜÙąĒîîđÿĊ÷Ü×ĂÜÙèąÖøøöÖćøïøĉĀćøÖĘĕéš 2. óĉÝćøèćÜïðøąöćèðøąÝĞćðŘ ÖćøÖĞćĀîéÜïðøąöćè×ĂÜĒêŠúąĀîŠü÷Üćî ĒúąĂĞćîćÝĀîšćìĊ×ę ĂÜĒêŠúąïčÙÙú êúĂéÝî×ĆîĚ êĂî ×ĂÜĒêŠúąĀîŠü÷ÜćîĔîÖćøĔßšÝćŠ ÷ÜïðøąöćèðøąÝĞćðŘìêĊę ÜĆĚ ĕüš đóČĂę đÿîĂêŠĂÙèąÖøøöÖćøïøĉþìĆ ĒúąÖćøÙüïÙčöéĎĒúÖćøĔßšÝćŠ ÷ êćöÜïðøąöćèìĊęĕéšøĆïĂîčöĆêĉÝćÖïøĉþĆìĒúšü 3. ðøąđöĉîñúÖćøéĞćđîĉîÜćî×ĂÜĒêŠúąĀîŠü÷Üćî ÖĞćĀîéüĉíĊÖćøĒúą×ĆĚîêĂîðøąđöĉîñúÖćøéĞćđîĉîÜćîĒúąøĆïÖćøßĊĚĒÝÜđøČęĂÜÖćø ðøąđöĉîñúÖćøéĞćđîĉîÜćîÝćÖñĎšìĊęđÖĊę÷ü×šĂÜÖĆïÿć÷ÜćîîĆĚî 4. óĉÝćøèćðøĆïðøčÜĒÖšĕ×ĒñîÖćøéĞćđîĉîíčøÖĉÝĔĀšđĀöćąÿöĒÖŠÿõćüąìćÜđýøþåÖĉÝ đóČęĂðøąē÷ßîŤ×ĂÜïøĉþĆì 5. óĉÝćøèćĂîčöĆêĉÖćøúÜìčî ĒúąÖĞćĀîéÜïðøąöćèÖćøúÜìčîĔîüÜđÜĉîĕöŠđÖĉî 50 úšćîïćì 6. óĉÝćøèćÖćøđ×šćìĞćÿĆââćđÖĊę÷üÖĆïíčøÖĉÝ×ĂÜïøĉþĆìĒúąÿĆââćđÖĊę÷üÖĆïÖćøàČĚĂìøĆó÷ŤÿĉîĀøČĂìĞćĔĀšĕéšöćàċęÜÿĉìíĉđóČęĂîĞćöćĔßš ðøąē÷ßîŤĔîÖĉÝÖćø×ĂÜïøĉþĆì ĔîüÜđÜĉîĕöŠđÖĉîÝćÖìĊęÖĞćĀîéĕüšĔî×šĂ 5 êúĂéÝîÖćøÖĞćĀîé×ĆĚîêĂîĒúąüĉíĊÖćøđÝøÝćđóČęĂìĞć ÿĆââćéĆÜÖúŠćü 7. óĉÝćøèćÖćøìĞćÿĆââćđÖĊę÷üÖĆïÖćøđÜĉî ÖćøÖĎš÷Čö ÖćøÙĞĚćðøąÖĆî ĒúąÖćøĔĀšÿĉîđßČęĂĔîüÜđÜĉîĕöŠđÖĉî 100 úšćîïćì êúĂéÝîÖćø ÖĞćĀîé×ĆĚîêĂîĒúąüĉíĊÖćøđÝøÝćĔîÖćøìĞćÿĆââćéĆÜÖúŠćü 8. ÖćøĒÖšĕ×ÿĆââć ĒúąÖćøđúĉÖÿĆââćìĊęöĊÿćøąÿĞćÙĆâêćöìĊęÙèąÖøøöÖćøïøĉĀćøóĉÝćøèćđĀĘîÿöÙüø

38 . ÖćøéĞćđîĉîÖćøðøąîĂöĀîĊĚ ĂîčâćēêêčúćÖćø ĒúąÖøąïüîÖćøìćÜýćú 10. óĉÝćøèćÖćøēĂîÿĉìíĉ ĒúąìøĆó÷Ťÿîĉ ×ĂÜïøĉþìĆ ĕð÷ĆÜïčÙÙúĂČîę àċÜę ĕöŠĔßŠìćÜÖćøÙšćðÖêĉ×ĂÜïøĉþìĆ đóČĂę đÿîĂêŠĂÙèąÖøøöÖćøïøĉþìĆ 11. óĉÝćøèćÖćøîĞćÿĉìíĉĒúąìøĆó÷Ťÿĉî×ĂÜïøĉþĆìĕðÖŠĂõćøąñĎÖóĆîĔéė ÖĆïïčÙÙúĂČęî đóČęĂđÿîĂêŠĂÙèąÖøøöÖćøïøĉþĆì 12. óĉÝćøèćñúÖĞćĕøĒúą×ćéìčî×ĂÜïøĉþĆì ĒúąÖćøđÿîĂÝŠć÷đÜĉîðŦîñúðøąÝĞćðŘđóČęĂđÿîĂêŠĂÙèąÖøøöÖćøïøĉþĆì 13. óĉÝćøèćÖćøéĞćđîĉîíčøÖĉÝĔĀöŠ ĀøČĂÖćøđúĉÖíčøÖĉÝ×ĂÜïøĉþìĆ đóČĂę đÿîĂêŠĂÙèąÖøøöÖćøïøĉþìĆ ÖćøéĞćđîĉîÖćøĔéė đóČĂę ÿîĆïÿîčî ÖćøéĞćđîĉîÖćøéĆÜÖúŠćü×šćÜêšî ĀøČĂêćöÙüćöđĀĘîìĊĔę Āšēé÷ÙèąÖøøöÖćøïøĉþìĆ ĀøČĂêćöÖćøĔĀšĂćĞ îćÝÝćÖÙèąÖøøöÖćøïøĉþìĆ àċęÜĂ÷ĎŠõć÷Ĕêšîē÷ïć÷×ĂÜÙèąÖøøöÖćøïøĉþĆììĆĚÜîĊĚÖćøöĂïĂĞćîćÝéĆÜÖúŠćüÖøøöÖćøïøĉĀćøÝąĕöŠÿćöćøëĂîčöĆêĉøć÷ÖćøìĊęêî ĀøČĂïčÙÙúìĊęĂćÝöĊÙüćö×ĆéĒ÷šÜ öĊÿŠüîĕéšđÿĊ÷ĀøČĂĂćÝöĊÙüćö×ĆéĒ÷šÜìćÜñúðøąē÷ßîŤĔîúĆÖþèąĂČęîÖĆïïøĉþĆìĀøČĂïøĉþĆì÷ŠĂ÷ 14. éĞćđîĉîÖćøđÿîĂêŠĂìĊęðøąßčöÙèąÖøøöÖćøĔîđøČęĂÜĔéė àċęÜÝąĕéšøĆïÖćøúÜöêĉ Ēúą ĀøČĂ ĂîčöĆêĉÝćÖìĊęðøąßčöÙèąÖøøöÖćø ĒúąđøČęĂÜéĆÜÖúŠćüÝąêšĂÜĒÝšÜêŠĂĀîŠü÷ÜćîìĊęđÖĊę÷ü×šĂÜ đßŠîÿĞćîĆÖÜćîÙèąÖøøöÖćøÖĞćÖĆïĀúĆÖìøĆó÷ŤĒúąêúćéĀúĆÖìøĆó÷Ť êúćéĀúĆÖìøĆó÷ŤĒĀŠÜðøąđìýĕì÷ ĒúąÖøąìøüÜóćèĉß÷Ť ìĆĚÜîĊĚÖøøöÖćøïøĉĀćøÝąĕöŠÿćöćøëĂîčöĆêĉøć÷ÖćøìĊęêîĀøČĂïčÙÙúìĊęĂćÝöĊÙüćö×ĆéĒ÷šÜ öĊÿŠüîĕéšÿŠüîđÿĊ÷ ĀøČĂĂćÝöĊÙüćö×ĆéĒ÷šÜìćÜ ñúðøąē÷ßîŤĔîúĆÖþèąĂČęîÖĆïïøĉþĆìĀøČĂïøĉþĆì÷ŠĂ÷ Öćøðøąßčö ÙèąÖøøöÖćøïøĉĀćøÝąêšĂÜÝĆéĔĀšöĀĊ øČĂđøĊ÷ÖðøąßčöêćöìĊđę ĀĘîÿöÙüø ĔîÖćøðøąßčöÝąêšĂÜöĊÖøøöÖćøđ×šćøŠüöðøąßčöĒêŠúąÙøĆÜĚ Ă÷ŠćÜ îšĂ÷ 3 ìŠćî ÝċÜÝąÙøïđðŨîĂÜÙŤðøąßčö öêĉ×ĂÜìĊęðøąßčöÝąëČĂđĂćđÿĊ÷Ü×šćÜöćÖ×ĂÜÖøøöÖćøìĊęöćðøąßčö ìĆĚÜîĊĚÖøøöÖćøñĎšöĊÿŠüîĕéšđÿĊ÷ĔîđøČęĂÜĔé ÝąêšĂÜĕöŠđ×šćøŠüöĔîÖćøóĉÝćøèćĀøČĂúÜöêĉđÖĊę÷üÖĆïđøČęĂÜîĆĚîēé÷ ĔîðŘ 2555 öĊÖćøðøąßčöøüöìĆĚÜÿĉĚî 5 ÙøĆĚÜ üćøąÖćøéĞćøÜêĞćĒĀîŠÜ ÙèąÖøøöÖćøïøĉĀćø öĊüćøąéĞćøÜêĞćĒĀîŠÜ 3 ðŘ ÖøøöÖćøñĎšĂĂÖÝćÖêĞćĒĀîŠÜêćöüćøąîĆĚîĂćÝëĎÖđúČĂÖđ×šćéĞćøÜêĞćĒĀîŠÜĂĊÖÖĘĕéš

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ĀîŠü÷ ïćì

ชื่อกรรมการ

1. ø.ê.ê.đÖøĊ÷ÜýĆÖéĉĝ 2. îć÷ðćøđöýøŤ 3. îć÷îóéú 4. îć÷óĉđßþå 5. îć÷íüĆß 6. îć÷üĉßĉê 7. îć÷ðøąđÿøĉå 8. îć÷óøýĆÖéĉĝ . îćÜĂčïúøĆêîŤ 10. îćÜÿćüíöîüøøè Total

เบี้ยประชุม กรรมการ บริษัท

80,000.00 60,000.00 40,000.00 40,000.00 40,000.00 40,000.00 30,000.00 40,000.00 40,000.00 40,000.00 450,000.00

เบี้ยประชุม กรรมการ ตรวจสอบ

60,000.00 40,000.00 40,000.00 140,000.00

เบี้ยประชุม กรรมการ บริหาร

บําเหน็จ กรรมการ จ่ายจริง 31 ม.ค. 56

รวม ค่าตอบแทน

500,000.00 600,000.00 420,000.00 480,000.00 10,000.00 50,000.00 10,000.00 50,000.00 10,000.00 50,000.00 10,000.00 50,000.00 270,000.00 360,000.00 160,000.00 240,000.00 160,000.00 240,000.00 40,000.00 40,000.00 1,510,000.00 2,160,000.00

ÿøčðÙŠćêĂïĒìîÖøøöÖćøðŘ 2553 2555 ĀîŠü÷ ïćì ค่าตอบแทน

đÜĉîđïĊĚ÷ðøąßčö đÜĉîÙŠćïĞćđĀîĘÝ ÙŠćêĂïĒìîĂČęîė øüö

ปี 2555 จํานวนราย จํานวนเงิน

10 5

630,000.00 1,530,000.00 ĕöŠöĊ 2,160,000.00

ปี 2554 จํานวนราย จํานวนเงิน

10 5

760,000.00 1,450,000.00 ĕöŠöĊ 2,210,000.00

ปี 2553 จํานวนราย จํานวนเงิน

10 5

5,000.00 1,325,000.00 ĕöŠöĊ 2,320,000.00

40 3. คณะกรรมการบริหารความเสี่ยง

ÙèąÖøøöÖćøïøĉþĆìđðŨîñĎšĒêŠÜêĆĚÜÙèąÖøøöÖćøïøĉĀćøÙüćöđÿĊę÷ÜìĆĚÜĂÜÙŤÖø ēé÷ðøąÖĂïéšü÷ÙèąÖøøöÖćøĕöŠîšĂ÷ÖüŠć 5 Ùî àċęÜ Ă÷ŠćÜîšĂ÷ 1 Ùî êšĂÜđðŨîÖøøöÖćøïøĉþĆì è üĆîìĊę 7 ÖčöõćóĆîíŤ 2555 ÙèąÖøøöÖćøïøĉĀćøÙüćöđÿĊę÷Ü×ĂÜïøĉþĆì öĊÝĞćîüî ìŠćî éĆÜîĊĚ ชื่อ-นามสกุล

1. 2. 3. 4. 5. 6. 7. 8. .

îć÷îóéú îć÷ĂîĆîêŤ îć÷ĂõĉÿĉìíŤ îć÷âćèĉÿøŤ îć÷Ýčæć îćÜøÝîć îćÜÿćüíöîüøøè îćÜĂčĕøüøøè îć÷èøĆå

êĆèýúćøĆÖþŤ ýĉøĉõĆÿøćõøèŤ ßČęîßöõĎ ìĉóćÖø Ýćøčïčè÷Ť êøąÖĎúÙĎýøĊ îøĉîìüćîĉß ïčè÷øĆêóĆîíčŤ ó÷ĆÙÛîĉíĉ

ตําแหน่ง

ðøąíćî øĂÜðøąíćî ÖøøöÖćø ÖøøöÖćø ÖøøöÖćø ÖøøöÖćø ÖøøöÖćø ÖøøöÖćø ÖøøöÖćø

×Ăïđ×êĂĞćîćÝĀîšćìĊęĒúąÙüćöøĆïñĉéßĂï ÙèąÖøøöÖćøïøĉĀćøÙüćöđÿĊę÷Ü ïøĉþĆì öćÿđêĂøŤ ĒĂé ÝĞćÖĆé öĀćßî öĊĀîšćìĊęĒúąÙüćöøĆïñĉéßĂïéĆÜîĊĚ 1. ÝĆéìĞćÙĎŠöČĂÖćøïøĉĀćøÙüćöđÿĊę÷Ü ×ĂÜïøĉþĆì öćÿđêĂøŤ ĒĂé ÝĞćÖĆé öĀćßî

2. ÝĆéìĞćĒñîÜćîđóČęĂðŜĂÜÖĆî ĀøČĂúéÙüćöđÿĊę÷Ü 3. îĞćđÿîĂîē÷ïć÷éšćîÖćøïøĉĀćøÙüćöđÿĊ÷ę Ü×ĂÜ ïøĉþìĆ öćÿđêĂøŤ ĒĂé ÝĞćÖĆé öĀćßî êŠĂÙèąÖøøöÖćøïøĉĀćø ïøĉþìĆ öćÿđêĂøŤ ĒĂé ÝĞćÖĆé öĀćßî đóČęĂ×ĂÙüćöđĀĘîßĂïÖŠĂîîĞćÿĎŠÖćøðäĉïĆêĉ 4. ÿîĆïÿîčîÖćøïøĉĀćøÜćî×ĂÜñĎïš øĉĀćøøąéĆïÿĎÜ ēé÷ÖĞćĀîéēÙøÜÿøšćÜ×ĂÜÖćøïøĉĀćøÙüćöđÿĊ÷ę ÜĔĀšÙøĂïÙúčöìĆÜĚ ĂÜÙŤÖø óøšĂöìĆÜĚ îĞćÖú÷čìíŤéšćîÙüćöđÿĊę÷ÜĕðÿĎŠÖćøðäĉïĆêĉ ēé÷ĔßšüĉíĊÖćøÿøšćÜøąđïĊ÷ïðäĉïĆêĉĒúąÖćøúÜìčîĔîøąïï ìĊęđĀöćąÿö 5. ýċÖþć üĉđÙøćąĀŤ ĒúąðøąđöĉîÙüćöđÿĊ÷ę Ü Ēîüēîšö ìĊđę ÖĉéĒúąĀøČĂĂćÝÝąđÖĉé×ċîĚ àċÜę öĊñúÖøąìïêŠĂĂÜÙŤÖøìĆÜĚ õć÷Ĕî Ēúąõć÷îĂÖ 6. ðøąđöĉîñú ĒúąÝĆéìĞćøć÷ÜćîóøšĂö îĞćđÿîĂøć÷ÜćîìĊęđÖĊę÷üÖĆïÙüćöđóĊ÷ÜóĂ×ĂÜøąïïĒúąÖćøÙüïÙčöÙüćöđÿĊę÷Ü êŠĂÙèą ÖøøöÖćøïøĉĀćø ïøĉþĆì öćÿđêĂøŤ ĒĂé ÝĞćÖĆé öĀćßî ĒúąÙèąÖøøöÖćø ïøĉþĆì öćÿđêĂøŤ ĒĂé ÝĞćÖĆé öĀćßî

7. ìĞćĀîšćìĊęđðŨîýĎî÷ŤøüöĔîÖćøÖĞćÖĆïéĎĒúÙüćöđÿĊę÷ÜìĊęöĊîĆ÷ÿĞćÙĆâêŠćÜė ìĊęñĎšðøąÿćîÜćîÖćøïøĉĀćøÙüćöđÿĊę÷Üøć÷Üćî 8. ìïìüîøć÷ÜćîÖćøïøĉĀćøÙüćöđÿĊ÷ę ÜÖĞćÖĆïéĎĒúðøąÿĉìíĉñúÖćøéĞćđîĉîÜćîìćÜÖćøïøĉĀćøđóČĂę ÝĆéÖćøÖĆïÙüćöđÿĊ÷ę ÜìĊĕę öŠÿćöćøë ÷ĂöøĆïĕéš . ÝĆéüćÜøąïïïøĉĀćøÙüćöđÿĊę÷ÜĒïïïĎøèćÖćø ēé÷đßČęĂöē÷Üøąïïÿćøÿîđìý 10. ðäĉïĆêĉÜćîĂČęîė ĔîÿŠüîìĊęđÖĊę÷ü×šĂÜÖĆïîē÷ïć÷éšćîÖćøïøĉĀćøÙüćöđÿĊę÷Ü×ĂÜïøĉþĆì öćÿđêĂøŤ ĒĂé ÝĞćÖĆé öĀćßî êćöìĊęÙèą ÖøøöÖćøïøĉþĆìöĂïĀöć÷ üćøąÖćøéĞćøÜêĞćĒĀîŠÜ ÙèąÖøøöÖćøïøĉĀćøÙüćöđÿĊę÷ÜöĊüćøąÖćøéĞćøÜêĞćĒĀîŠÜ 3 ðŘ ÖøøöÖćøìĊĂĂÖÝćÖêĞćĒĀîŠÜêćöüćøĂćÝëĎÖđúČĂÖÖúĆïđ×šćöćéĞćøÜ êĞćĒĀîŠÜĂĊÖÖĘĕéš Öćøðøąßčö ÙèąÖøøöÖćøïøĉĀćøÙüćöđÿĊ÷ę ÜÝąêšĂÜÝĆéĔĀšöĀĊ øČĂđøĊ÷ÖðøąßčöìčÖđéČĂî ĀøČĂêćöìĊđę ĀĘîÿöÙüø ĔîÖćøðøąßčöÝąêšĂÜöĊÖøøöÖćøđ×šćøŠüö ðøąßčöĒêŠúąÙøĆĚÜĂ÷ŠćÜîšĂ÷ 3 Ùî ÝċÜÝąÙøïđðŨîĂÜÙŤðøąßčö ÖćøüĉîĉÝÞĆ÷ßĊĚ×ćé×ĂÜìĊęðøąßčöĔĀšëČĂđÿĊ÷Ü×šćÜöćÖĔîìĊęðøąßčöđðŨîöêĉ×ĂÜìĊęðøąßčö

41 เลขานุการบริษัท

đóČęĂĔĀšđðŨîĕðêćöĀúĆÖÖćøÖĞćÖĆïéĎĒúÖĉÝÖćøìĊęéĊ×ĂÜïøĉþĆìÝéìąđïĊ÷îĔîĀöüéÙüćöøĆïñĉéßĂï×ĂÜÙèąÖøøöÖćøïøĉþĆì Ēúąêćö ×šĂÖĞćĀîé×ĂÜóøąøćßïĆââĆêĉĀúĆÖìøĆó÷ŤĒúąêúćéĀúĆÖìøĆó÷Ť ÞïĆïìĊę 4 ó.ý. 2551 ïøĉþĆìÝċÜĕéšĒêŠÜêĆĚÜĔĀš îćÜÿćüíöîüøøè îøĉîìüćîĉß ÖøøöÖćø ĒúąñĎšĂĞćîü÷Öćøòść÷ïĆâßĊÖćøđÜĉî đðŨîđú×ćîčÖćøïøĉþĆì ĒúąöĊĀîšćìĊęðäĉïĆêĉêćö×šĂÖĞćĀîé×ĂÜóøąøćßïĆââĆêĉĀúĆÖìøĆó÷ŤĒúą êúćéĀúĆÖìøĆó÷Ť ÞïĆïìĊę 4 ó.ý. 2551 éĆÜîĊĚ ĀîšćìĊęĒúąÙüćöøĆïñĉéßĂï×ĂÜđú×ćîčÖćøïøĉþĆì 1. ÝĆéìĞćĒúąđÖĘïøĆÖþćđĂÖÿćøéĆÜêŠĂĕðîĊĚ Ö ìąđïĊ÷îÖøøöÖćø × ĀîĆÜÿČĂîĆéðøąßčöÙèąÖøøöÖćø øć÷ÜćîÖćøðøąßčöÙèąÖøøöÖćø Ēúąøć÷ÜćîðøąÝĞćðŘ×ĂÜïøĉþĆì Ù ĀîĆÜÿČĂîĆéðøąßčöñĎšëČĂĀčšî Ēúąøć÷ÜćîÖćøðøąßčöñĎšëČĂĀčšî 2. đÖĘïøĆÖþćøć÷ÜćîÖćøöĊÿŠüîĕéšđÿĊ÷ìĊęøć÷Üćîēé÷ÖøøöÖćøĒúąñĎšïøĉĀćø 3. éĞćđîĉîÖćøĂČęîė êćöìĊęÙèąÖøøöÖćøÖĞćÖĆïêúćéìčîðøąÖćýÖĞćĀîé 4. ÝĆéÿŠÜÿĞćđîćøć÷ÜćîÖćøöĊÿŠüîĕéšđÿĊ÷×ĂÜÖøøöÖćøĒúąñĎšïøĉĀćø ĀøČĂ×ĂÜïčÙÙúìĊęöĊÙüćöđÖĊę÷ü×šĂÜ àċęÜđðŨîÿŠüîĕéšđÿĊ÷ìĊęđÖĊę÷ü×šĂÜ ÖĆïÖćøïøĉĀćøÖĉÝÖćø×ĂÜïøĉþĆì ĀøČĂïøĉþĆì÷ŠĂ÷ ĔĀšðøąíćîÖøøöÖćø ĒúąðøąíćîÖøøöÖćøêøüÝÿĂïìøćïõć÷ĔîđÝĘéüĆî ìĞćÖćøîĆïĒêŠüĆîìĊęïøĉþĆìĕéšøĆïøć÷ÜćîîĆĚî 5. ðäĉïêĆ Āĉ îšćìĊéę üš ÷ÙüćöøĆïñĉéßĂï ÙüćöøąöĆéøąüĆÜ ĒúąÙüćöàČĂę ÿĆê÷ŤÿÝč øĉê øüöìĆÜĚ êšĂÜðäĉïêĆ Ĕĉ ĀšđðŨîĕðêćöÖãĀöć÷ üĆêëčðøąÿÜÙŤ ×šĂïĆÜÙĆï×ĂÜïøĉþĆì öêĉÙèąÖøøöÖćø êúĂéÝîöêĉìĊęðøąßčöñĎšëČĂĀčšî ĒúąĔĀšîĞćÙüćöêćöóøąøćßïĆââĆêĉĀúĆÖìøĆó÷ŤĒúą êúćéĀúĆÖìøĆó÷Ť ó.ý.2535 Ĕîöćêøć 8 8 üøøÙÿĂÜ ÙüćöøĆïñĉéßĂïĒúąÙüćöøąöĆéøąüĆÜ öćêøć 8 10 ÙüćöàČęĂÿĆê÷Ť ÿčÝøĉê öćêøć 8 11 2 Ēúą 3 ÖćøÖøąìĞćìĊę×ĆéĀøČĂĒ÷šÜÖĆïðøąē÷ßîŤ×ĂÜïøĉþĆì Ēúąöćêøć 8 18 ÖøąìĞćĀøČĂúąđüšî ÖøąìĞćÖćøđðŨîđĀêčĔĀšöĊïčÙÙúĕéšðøąē÷ßîŤĕðēé÷öĉßĂï öćĔßšïĆÜÙĆïēé÷Ăîčēúö ÙčèÿöïĆêĉ×ĂÜđú×ćîčÖćøïøĉþĆì 1. öĊÙüćöøĂïøĎĒš úąđ×šćĔÝĔîíčøÖĉÝ×ĂÜïøĉþìĆ Ą øüöëċÜïìïćìĀîšćìĊìę đĊę ÖĊ÷ę ü×šĂÜÖĆïÜćîđú×ćîčÖćøïøĉþìĆ Ą ĕéšĒÖŠ ĀîšćìĊ×ę ĂÜÖøøöÖćø ĀîšćìĊę×ĂÜïøĉþĆìĄ ĒúąöĊÙüćöøĎšéšćîÖãĀöć÷ĒúąÖãøąđïĊ÷ïìĊęđÖĊę÷ü×šĂÜ êúĂéÝîýċÖþćĀćÙüćöøĎš Ēúąêĉéêćö ×šĂöĎú ×Šćüÿćø đóČęĂóĆçîćÖćøðäĉïĆêĉÜćîĂ÷ŠćÜÿöĞęćđÿöĂ 2. ðäĉïĆêĉĀîšćìĊęêćöÖãĀöć÷ ÖãøąđïĊ÷ï ×šĂïĆÜÙĆï×ĂÜïøĉþĆìĄ éšü÷ÙüćöøĆïñĉéßĂï øąöĆéøąüĆÜ àČęĂÿĆê÷ŤÿčÝøĉê öčŠÜöĆęî ìčŠöđì Ēúą ÿîĆïÿîčîÖćøéĞćđîĉîÜćî×ĂÜïøĉþìĆ Ą ĔĀšïøøúčüêĆ ëčðøąÿÜÙŤ ēé÷Ă÷ĎõŠ ć÷ĔêšĀúĆÖÖćøÖĞćÖĆïéĎĒúÖĉÝÖćøìĊéę ĒĊ úąÝøø÷ćïøøèìćÜíčøÖĉÝ 3. ÷ċéöĆîę ĔîÙčèíøøö Ýøĉ÷íøøö ÙĞćîċÜëċÜñĎöš ÿĊ üŠ îĕéšđÿĊ÷ìčÖòść÷ ĕöŠÖøąìĞćÖćøĔéė ĂĆîÝąÖŠĂĔĀšđÖĉéñúđÿĊ÷êŠĂßČĂę đÿĊ÷Ü ĒúąõćóúĆÖþèŤ ×ĂÜïøĉþĆìĄ 4. ĕöŠöčŠÜĀüĆÜñúðøąē÷ßîŤÿŠüîêĆüÝćÖēĂÖćÿìćÜíčøÖĉÝ×ĂÜïøĉþĆìĄ øüöìĆĚÜđÖĘïøĆÖþćÙüćöúĆï×ĂÜïøĉþĆìĄ ĕéšđðŨîĂ÷ŠćÜéĊ 5. öĊöîčþ÷ÿĆöóĆîíŤìĊęéĊ öĊÙüćöÿćöćøëĔîÖćøêĉéêŠĂðøąÿćîÜćîÖĆïòść÷ÜćîĒúąĀîŠü÷ÜćîêŠćÜė ìĆĚÜõć÷ĔîĒúąõć÷îĂÖïøĉþĆìĄ ประธานเจ้าหน้าที่บริหาร

ðøąíćîđÝšćĀîšćìĊęïøĉĀćøđðŨîêĞćĒĀîŠÜÿĎÜÿčéĔîÖćøïøĉĀćøÜćîìĊęĕéšøĆïÖćøĒêŠÜêĆĚÜÝćÖÙèąÖøøöÖćøïøĉĀćø đóČęĂöĊĀîšćìĊęïøĉĀćøÜćî ïøĉþĆìêćöĒñîÜćîĀøČĂÜïðøąöćèìĊęĕéšøĆïĂîčöĆêĉÝćÖÙèąÖøøöÖćøïøĉþĆìĂ÷ŠćÜđÙøŠÜÙøĆé éšü÷ÙüćöàČęĂÿĆê÷Ť ÿčÝøĉêĒúąøąöĆéøąüĆÜ øüöìĆĚÜêšĂÜ ðäĉïêĆ Ĕĉ ĀšđðŨîĕðêćöÖãĀöć÷üĆêëčðøąÿÜÙŤ ×šĂïĆÜÙĆïöêĉÖøøöÖćø ēé÷÷ċéëČĂñúðøąē÷ßîŤ×ĂÜïøĉþìĆ ĒúąñĎëš ĂČ Āčîš đðŨîĀúĆÖ ĂĞćîćÝĒúąĀîšćìĊ×ę ĂÜ ðøąíćîđÝšćĀîšćìĊęïøĉĀćø êćöìĊęÙèąÖøøöÖćøöĂïĀöć÷

42 ĂĞćîćÝĀîšćìĊę×ĂÜðøąíćîđÝšćĀîšćìĊęïøĉĀćø 1. đðŨîñĎšêĆéÿĉîĔÝĔîđøČęĂÜìĊęÿĞćÙĆâ×ĂÜïøĉþĆì ÖĞćĀîéõćøÖĉÝ üĆêëčðøąÿÜÙŤ ĒîüìćÜ îē÷ïć÷×ĂÜïøĉþĆì øüöëċÜÖćøÖĞćÖĆïéĎĒúÖćø éĞćđîĉîÜćîēé÷øüö ñúñúĉê ÙüćöÿĆöóĆîíŤÖĆïúĎÖÙšćĒúąøĆïñĉéßĂïêŠĂÙèąÖøøöÖćøïøĉþĆì 2. öĊĂĞćîćÝÝšćÜĒêŠÜêĆĚÜ ē÷Ö÷šć÷ ïčÙÙúêćöÝĞćîüîìĊęÝĞćđðŨîĒúąđĀĘîÿöÙüø ĔĀšđðŨîñĎšïøĉĀćøĀøČĂóîĆÖÜćî×ĂÜïøĉþĆìđóČęĂðäĉïĆêĉ ĀîšćìĊìę Öč êĞćĒĀîŠÜ øüöëċÜÖćøÖĞćĀîé×Ăïđ×êĂĞćîćÝĀîšćìĊĒę úąñúðøąē÷ßîŤêĂïĒìîìĊđę Āöćąÿö ĒúąöĊĂćĞ îćÝĔîÖćøðúéĂĂÖ ĔĀšĂĂÖ ĕúŠĂĂÖóîĆÖÜćîêćöÙüćöđĀöćąÿö 3. öĊĂĞćîćÝĔîÖćøÖĞćĀîéđÜČęĂîĕ×ìćÜÖćøÙšć đßŠî üÜđÜĉîđÙøéĉê øą÷ąđüúćÖćøßĞćøąđÜĉî ÖćøìĞćÿĆââćàČĚĂ×ć÷ ÖćøđðúĊę÷îĒðúÜ đÜČęĂîĕ×ìćÜÖćøÙšć đðŨîêšî 4. öĊĂĞćîćÝĂîčöĆêĉÙŠćĔßšÝŠć÷êćöēÙøÜÖćøìĊęĕéšøĆïĂîčöĆêĉÝćÖÙèąÖøøöÖćøïøĉþĆìĒúšü ĒúąÙŠćĔßšÝŠć÷ĀøČĂÖćøÝŠć÷đÜĉîĒêŠúąÙøĆĚÜöĊ üÜđÜĉîĕöŠđÖĉî 10 úšćîïćì 5. óĉÝćøèćđøČęĂÜÖćøúÜìčîĔîēÙøÜÖćøðøąđõìêŠćÜė øüöëċÜÖćøàČĚĂ×ć÷ìøĆó÷Ťÿĉî 6. öĊĂĞćîćÝÖøąìĞćÖćøĒúąĒÿéÜêîđðŨîêĆüĒìîïøĉþĆìêŠĂïčÙÙúõć÷îĂÖĔîÖĉÝÖćøìĊęđÖĊę÷ü×šĂÜĒúąđðŨîðøąē÷ßîŤêŠĂïøĉþĆì 7. ĂîčöĆêĉÖćøĒêŠÜêĆĚÜìĊęðøċÖþćéšćîêŠćÜė ìĊęÝĞćđðŨîêŠĂÖćøéĞćđîĉîÜćî 8. éĞćđîĉîÖĉÝÖćøìĊęđÖĊę÷ü×šĂÜÖĆïÖćøïøĉĀćøÜćîìĆęüĕð×ĂÜïøĉþĆì ìĆĚÜîĊĚ ÖćøĔßšĂĞćîćÝ×ĂÜðøąíćîđÝšćĀîšćìĊęïøĉĀćø ÖøøöÖćøñĎšÝĆéÖćøéĆÜÖúŠćü×šćÜêšîĕöŠÿćöćøëÖøąìĞćĕéš ĀćÖöĊÿŠüîĕéšÿŠüîđÿĊ÷ ĀøČĂ ĂćÝöĊÙüćö×ĆéĒ÷šÜìćÜñúðøąē÷ßîŤĔîúĆÖþèąĔéė ÖĆïïøĉþĆìĔîÖćøĔßšĂĞćîćÝéĆÜÖúŠćü îē÷ïć÷ÖćøéĞćøÜêĞćĒĀîŠÜÖøøöÖćøĔîïøĉþĆìĂČęî×ĂÜðøąíćîđÝšćĀîšćìĊęïøĉĀćø 1. éĞćøÜêĞćĒĀîŠÜÖøøöÖćøĔîïøĉþĆìÝéìąđïĊ÷îĔîêúćéĀúĆÖìøĆó÷ŤĒĀŠÜðøąđìýĕì÷ ĕöŠđÖĉî 3 ïøĉþĆì 2. ðøąíćîđÝšćĀîšćìĊïę øĉĀćøöĊĀîšćìĊéę ćĞ øÜêĞćĒĀîŠÜÖøøöÖćø ĀøČĂóĉÝćøèćñĎïš øĉĀćøìĊöę ÙĊ è č ÿöïĆêđĉ Āöćąÿö đóČĂę đ×šćĕðéĞćøÜêĞćĒĀîŠÜ ÖøøöÖćøĔîïøĉþĆììĊęïøĉþĆìđðŨîñĎšëČĂĀčšî ÖćøïøĉĀćøÝĆéÖćø øć÷ßČęĂñĎšïøĉĀćø è 1 öÖøćÙö 2556 ลําดับที่

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ÙüćöÿĆöóĆîíŤ øŠüöúÜìčîĔî ïøĉþĆì ÖøĊî ĒĂé ÝĞćÖĆé ÖøøöÖćøøŠüöÖĆî ÖøøöÖćøøŠüöÖĆî øŠüöúÜìčîĔî ïøĉþĆì ĒöĘÖàŤ ÙøĊđĂìĊô ÝĞćÖĆé ĒúąÖĉÝÖćø øŠüöÙšćĂĉîđéĘÖàŤ éĊ 103 öćēÖš øŠüöúÜìčîĔî ÖĉÝÖćøøŠüöÙšć ĂĉîđéĘÖàŤ éĊ103 öćēÖš øŠüöúÜìčîĔî ÖĉÝÖćøøŠüöÙšć ĂĉîđéĘÖàŤ éĊ103 öćēÖš øŠüöúÜìčîĔî ïøĉþĆì ìćüîŤ ĒïøîéŤéĉĚÜ ÝĞćÖĆé àċęÜđðŨîïøĉþìĆ ÷ŠĂ÷ ×ĂÜïøĉþĆì ĒöĘÖàŤ ÙøĊđĂìĊô ÝĞćÖĆé

ïøĉþĆì éĊĕàîŤ 103 ĂĉîđêĂøŤđîßĆęîĒîú ÝĞćÖĆé ïøĉþĆì éĊĕàîŤ 103 ÝĞćÖĆé ïøĉþĆì 3 Āîčöćî ÝĞćÖĆé

ĀîŠü÷ úšćîïćì

รายการธุรกิจกับบุคคล และกิจการที่เกี่ยวข้องกัน

øć÷ĕéšÙŠćđßŠćðŜć÷ ïøĉþĆì÷ŠĂ÷ ïøĉþĆìøŠüö ïøĉþĆììĊęđÖĊę÷ü×šĂÜ øć÷ĕéšÙŠćîć÷Āîšć ïøĉþĆì÷ŠĂ÷ øć÷ĕéšđÜĉîðŦîñú ïøĉþĆì÷ŠĂ÷ ïøĉþĆìøŠüö øć÷ĕéšÙŠćðøċÖþćĒúąïøĉÖćøìćÜïĆâßĊ ïøĉþĆì÷ŠĂ÷ ïøĉþĆìøŠüö øć÷ĕéšÙŠćđßŠćÿĞćîĆÖÜćî ïøĉþĆì÷ŠĂ÷ ïøĉþĆìøŠüö øć÷ĕéšĂČęî ïøĉþĆì÷ŠĂ÷ ïøĉþĆìøŠüö

นโยบายราคา

งบการเงินรวม 2555 2554

งบการเงินเฉพาะของบริษัท 2555 2554

øćÙćĒúąøą÷ąđüúćßĞćøą ĀîĊĚĔÖúšđÙĊ÷ÜÖĆïïčÙÙú õć÷îĂÖ

0.23

0.12 0.28

4.07 0.23

3.88 0.12 0.28

øšĂ÷úą 5 ÝćÖ÷Ăé×ć÷ìĊę đÖĘïđÜĉîĕéš àċęÜĔÖúšđÙĊ÷ÜÖĆï ìĊęÙĉéÖĆïïčÙÙúõć÷îĂÖ

8.78

8.36

104.00 1.40

0.30

0.05

0.3

0.70 0.05

0. 4 0.3

0.54 0.33

0.54 0.24

2.78 0.54 1.70 0.33

2.88 0.54 1.54 0.24

øćÙćìĊęêÖúÜøŠüöÖĆî

øćÙćêúćé

êćöøćÙćìčî

45 ĀîŠü÷ úšćîïćì

รายการธุรกิจกับบุคคล และกิจการที่เกี่ยวข้องกัน

êšîìčîÖćøĔĀšïøĉÖćø ïøĉþĆì÷ŠĂ÷ ïøĉþĆìøŠüö ïøĉþĆììĊęđÖĊę÷ü×šĂÜ ÙŠćĔßšÝŠć÷ĔîÖćø×ć÷ ïøĉþĆì÷ŠĂ÷ ÙŠćĔßšÝŠć÷ĔîÖćøïøĉĀćø ïøĉþĆì÷ŠĂ÷ ïøĉþĆìøŠüö ñĎšïøĉĀćøÿĞćÙĆâ ñúðøąē÷ßîŤøą÷ąÿĆĚî×ĂÜóîĆÖÜćî ÙŠćđñČęĂñúðøąē÷ßîŤĀúĆÜĂĂÖÝćÖÜćî ÙŠćđñČęĂñúðøąē÷ßîŤøą÷ą÷ćüĂČęîė êšîìčîìćÜÖćøđÜĉî ñĎšïøĉĀćøÿĞćÙĆâ

นโยบายราคา

งบการเงินรวม 2555 2554

งบการเงินเฉพาะของบริษัท 2554 2555

êćöøćÙćìčî

15.15 0.46

10.50 0.76

1.22 14.62 0.46

4.0 10.05 0.76

êćöøćÙćìčî

0.0

12.72

12.60

0.10 12.71

0.02 12.60

38. 0 0.41 0.02

28.77 0.3 0.02

32.36 0.38 0.02

24.88 0.36 0.02

0.17

0.16

0.17

0.15

êćöøćÙćìčî

÷ĂéÙÜđĀúČĂ×ĂÜøć÷Öćø×šćÜêšî è üĆîìĊę 31 íĆîüćÙö 2555 Ēúą 2554 ĕéšĒÿéÜĒ÷ÖêŠćÜĀćÖĔîÜïĒÿéÜåćîąÖćøđÜĉîõć÷Ĕêšøć÷Öćø éĆÜêŠĂĕðîĊĚ ĀîŠü÷ ïćì

งบการเงินรวม 2554 2553

งบการเงินเฉพาะของบริษัท 2554 2553

úĎÖĀîĊĚÖćøÙšć ïøĉþĆììĊęđÖĊę÷ü×šĂÜ ïøĉþĆì÷ŠĂ÷ ïøĉþĆì öćÿđêĂøŤ ĒĂîéŤ öĂøŤ ÝĞćÖĆé

3 4,287

36 ,1

ïøĉþĆìøŠüö ïøĉþĆì ĒöĘÖàŤ ÙøĊđĂìĊô ÝĞćÖĆé

364,335

ÖĉÝÖćøøŠüöÙšć ÖĉÝÖćøøŠüöÙšć ĂĉîđéĘÖàŤ éĊ 103 öćēÖš

121, 20

7,536 7,536

486,255

516,207

855,454

÷ĂéÙÜÙšćÜĒúąÿŠüî×ĂÜñĎšøŠüöÙšćĔîÖĉÝÖćøøŠüöÙšć ÖĉÝÖćøøŠüöÙšć ĂĉîđéĘÖàŤ éĊ 103 öćēÖš øüö

46 ĀîŠü÷ ïćì

งบการเงินรวม 2554 2553

úĎÖĀîĊĚĂČęî ïøĉþĆììĊęđÖĊę÷ü×šĂÜ ïøĉþĆì÷ŠĂ÷ ïøĉþĆì öćÿđêĂøŤ ĒĂîéŤ öĂøŤ ÝĞćÖĆé ïøĉþĆì öćēÖš ĕøìŤàć÷îŤ ÝĞćÖĆé ïøĉþĆì ÖøĊî ĒĂé ÝĞćÖĆé ïøĉþĆìøŠüö ïøĉþĆì ĂĉÜÙŤđÝĘì ĂĉöđöÝđÝÿ ðøąđìýĕì÷ ÝĞćÖĆé ïøĉþĆì đìÙ Ăą účÙ ÝĞćÖĆé øüö ÙŠćĔßšÝŠć÷ÝŠć÷úŠüÜĀîšćïøĉþĆììĊęđÖĊę÷ü×šĂÜ ïøĉþĆìđÖĊę÷ü×šĂÜ ïøĉþĆì ĂĉîđéĘÖàŤ ÙøĊđĂìĊô üĉúđúÝ ÝĞćÖĆé öĀćßî

đÜĉîĔĀšÖĎš÷ČöĒÖŠïøĉþĆììĊęđÖĊę÷ü×šĂÜ ïøĉþĆìøŠüö ïøĉþĆì đìÙ Ăą účÙ ÝĞćÖĆé đÜĉîðŦîñúÙšćÜøĆï ïøĉþĆì÷ŠĂ÷ ïøĉþĆì öćÿđêĂøŤ ĒĂîéŤ öĂøŤ ÝĞćÖĆé đÝšćĀîĊĚÖćøÙšć ïøĉþĆììĊęđÖĊę÷ü×šĂÜ ïøĉþĆì÷ŠĂ÷ ïøĉþĆì öćÿđêĂøŤ ĒĂîéŤ öĂøŤ ÝĞćÖĆé ïøĉþĆì öćēÖš ĕøìŤàć÷îŤ ÝĞćÖĆé ïøĉþĆìøŠüö ïøĉþĆì ĂĉÜÙŤđÝĘì ĂĉöđöÝđÝÿ ðøąđìýĕì÷ ÝĞćÖĆé ïøĉþĆììĊęđÖĊę÷ü×šĂÜ ïøĉþĆì üĊïĉěÖ ÝĞćÖĆé ïøĉþĆì ĒúîéĊĚ ēăö ðøąđìýĕì÷ ÝĞćÖĆé øüö øć÷ĕéšøĆïúŠüÜĀîšć ïøĉþĆììĊęđÖĊę÷ü×šĂÜ ïøĉþĆì÷ŠĂ÷ ïøĉþĆì öćÿđêĂøŤ ĒĂîéŤ öĂøŤ ÝĞćÖĆé đÝšćĀîĊĚĂČęî ïøĉþĆììĊęđÖĊę÷ü×šĂÜ ïøĉþĆì÷ŠĂ÷ ïøĉþĆì öćÿđêĂøŤ ĒĂîéŤ öĂøŤ ÝĞćÖĆé ïøĉþĆì öćēÖš ĕøìŤàć÷îŤ ÝĞćÖĆé

งบการเงินเฉพาะของบริษัท 2554 2553

2,787,356 171,523 47,822 3,006,701

42,865 430,083 82,334 1,455,282

3,34 3,363 6,712 6,712

0,274 3,46 3,743 3,743

3,34 3,363 6,712 3,103,413

0,274 3,46 3,743 1,54 ,025

846,552

4 5,000

53, , 46

2,170,448 2,656 2,173,104

1,082,55 0,736 1,173,2 5

5,27 ,678

7,508,1 4

5,050,052

7,415,541

5,27 ,678

27,135 530,526 557,661 8,065,855

7,223,156

530,526 530,526 ,11 ,362

287, 33

575,867

4,406 2,111 6,517

15,408 8,1 6 23,604

47 ĀîŠü÷ ïćì

งบการเงินรวม 2554 2553

ïøĉþĆìøŠüö ïøĉþĆì ĂĉÜÙŤđÝĘì ĂĉöđöÝđÝÿ ðøąđìýĕì÷ ÝĞćÖĆé ïøĉþĆì ĒúîéĊĚ éĊđüúúĂðđöšîìŤ ÝĞćÖĆé

งบการเงินเฉพาะของบริษัท 2554 2553

154,4 0 6,000 250,4 0

5 ,85 20 , 60 26 ,81

130,840 6,000 226,840

5 ,85 20 , 60 26 ,81

15,365 17,548 32, 13 283,403

26 ,81

323,357

2 3,423

đÜĉîÖĎš÷Čöøą÷ąÿĆĚîÝćÖïøĉþĆììĊęđÖĊę÷ü×šĂÜ ïøĉþĆììĊęđÖĊę÷ü×šĂÜ ïøĉþĆì ĂĉîđéĘÖàŤ ÙøĊđĂìĊô üĉúđúÝ ÝĞćÖĆé öĀćßî

2,000,000

ÿĞćøĂÜĀîĊĚÿĉîñúðøąē÷ßîŤóîĆÖÜćî ñĎšïøĉĀćøÿĞćÙĆâ ñúðøąē÷ßîŤĀúĆÜĂĂÖÝćÖÜćî ñúðøąē÷ßîŤøą÷ą÷ćüĂČęî

5,071,771 148,135

4,4 1,2 8 117,567

4,8 2,815 103,558

4,346,132 81,834

ïøĉþĆììĊęđÖĊę÷ü×šĂÜ ïøĉþĆì üĊïĉěÖ ÝĞćÖĆé ïøĉþĆì ĂĉîđéĘÖàŤ ÙøĊđĂìĊô üĉúđúÝ ÝĞćÖĆé öĀćßî

øüö

đÜĉîĔĀšÖĎš÷ČöĒÖŠïøĉþĆì đìÙ Ăą účÙ ÝĞćÖĆé Ēúą ïøĉþĆì ĒúîéĊĚ éĊđüúúĂðđöšîìŤ ÝĞćÖĆé đðŨîđÜĉîÖĎš÷ČöìĊęĕöŠöĊĀúĆÖðøąÖĆî ÙĉééĂÖđïĊĚ÷ ĔîĂĆêøćøšĂ÷úą M-3 1 êŠĂðŘ ĒúąĂĆêøćÙÜìĊøę Ăš ÷úą 2 êŠĂðŘ êćöúĞćéĆï ĒúąöĊÖćĞ ĀîéßĞćøąÙČîđöČĂę ìüÜëćö àċÜę ðŦÝÝčïîĆ đÜĉîĔĀšÖ÷šĎ öČ ĒÖŠ ïøĉþìĆ ĒúîéĊĚ éĊđüúúĂðđöšîìŤ ÝĞćÖĆé ĕéšøĆïÖćøßĞćøąÙČîÙøïêćöÝĞćîüîđøĊ÷ïøšĂ÷Ēúšü đÜĉîÖĎš÷Čöøą÷ąÿĆĚîÝćÖïøĉþĆììĊęđÖĊę÷ü×šĂÜÖĆî ÖĉÝÖćøøŠüöÙšć ĂĉîđéĘÖàŤ éĊ103 öćøŤēÖš đðŨîđÜĉîÖĎš÷ČöìĊęĕöŠöĊĀúĆÖðøąÖĆî ÙĉééĂÖđïĊĚ÷ĔîĂĆêøć øšĂ÷úą 5.25 êŠĂðŘ ĒúąöĊÖĞćĀîéßĞćøąÙČîõć÷Ĕîøą÷ąđüúćĂĆîĔÖúš

ïÝÖ. ĂĉÜÙŤđÝĘìĂĉöđöÿđÝÿ ðøąđìýĕì÷

บุคคล / นิติบุคคล ที่อาจมีความขัดแย้ง

îć÷óĉđßþå öèĊøĆêîąóø Ēúą îćÜÿćüíöîüøøè îøĉîìüćîĉß àċęÜđðŨîÖøøöÖćø×ĂÜïøĉþĆìéĞćøÜ êĞćĒĀîŠÜđðŨîÖøøöÖćø

ความสัมพันธ์

15.15

ïøĉþĆìÝšćÜïøĉþĆìøŠüöñúĉê đðŨîøćÙćìĊęĕöŠöĊÙüćöĒêÖêŠćÜÝćÖ õćóēÛþèćđóČęĂêĉéêĆĚÜïîÿČęĂ ÖćøüŠćÝšćÜñĎšñúĉêøć÷ĂČęîĔî×èąìĊę ðŜć÷ēÛþèć×ĂÜïøĉþĆì ïøĉÖćøêšĂÜéĊÖüŠćñĎšñúĉêøć÷ĂČęî

ปี 2555

10.50

0.54

ปี 2554

มูลค่ารายการ (ล้านบาท)

0.54

รายละเอียด และนโยบาย กําหนดราคา

100 ïćì êøö. đéČĂîàċęÜÿĎÜ ÖüŠćøćÙćìĊęïøĉþĆììĞćÖćøđßŠćÝćÖ đÝšć×ĂÜêċÖìĊęøćÙć 47.50 ïćì êøö. đéČĂîđîČęĂÜÝćÖïøĉþĆìöĊ ÖćøúÜìčîðøĆïðøčÜóČĚîìĊęĔĀšđßŠć ĔĀšöĊÿõćóóøšĂöĔßšÜćîøüöìĆĚÜÿĉęÜ ĂĞćîü÷ÙüćöÿąéüÖêŠćÜė

ïøĉþĆìđßŠćêċÖïøĉđüè ëîîüĉõćüéĊøĆÜÿĉêóČĚîìĊę 2,000 êøö. đóČęĂĔßšđðŨî ÿëćîìĊęðøąÖĂïÿČęĂðŜć÷ ēÛþèć ĒúąĒïŠÜĔĀšïøĉþĆì øŠüöđßŠćóČĚîìĊę 452.05 êøö. ÿĆââćđßŠćĂć÷č 3 ðŘÙøï ÖĞćĀîé 31 Ö.Ù. 2556

ลักษณะของ รายการ

đðŨîĕðêćöÖćøéĞćđîĉîíčøÖĉÝêćö ðÖêĉàċęÜÖćøĔĀšïøĉþĆìøŠüöđðŨîñĎšñúĉê îĆĚîìĞćĔĀšïøĉþĆìÿćöćøëÙüïÙčö ÙčèõćóÜćîĒúąøą÷ąđüúćĔîÖćø ñúĉêĕéšéĊ×ċĚî

đðŨîÖćøĒïŠÜđßŠćóČĚîìĊęĔĀšĒÖŠïøĉþĆì øŠüöđîČęĂÜÝćÖöĊóČĚîìĊęđĀúČĂĒúą ÿćöćøëĒïŠÜóČĚîìĊęïćÜÿŠüîĔĀšïøĉþĆì øŠüöĕéšàċęÜÿćöćøëßŠü÷úéõćøą êšîìčî×ĂÜïøĉþĆìĕéš

ความจําเป็นและ ความสมเหตุสมผล

ĔîøąĀüŠćÜðŘìĊęñŠćîöćïøĉþĆìĒúąïøĉþĆìøŠüö öĊøć÷ÖćøíčøÖĉÝìĊęÿĞćÙĆâÖĆïïčÙÙúìĊęĂćÝöĊÙüćö×ĆéĒ÷šÜìćÜñúðøąē÷ßîŤ ĒúąöĊÙüćöÝĞćđðŨîĒúąÙüćöÿöđĀêčÿöñú×ĂÜÖćøìĞćøć÷ÖćøêŠćÜė éĆÜîĊĚ

øć÷úąđĂĊ÷éđóĉęöđêĉöøć÷ÖćøøąĀüŠćÜÖĆî

ïÝÖ. ĒúîéĊĚéĊđüúúĂðđöîìŤ

บุคคล / นิติบุคคล ที่อาจมีความขัดแย้ง

ÖćøëČĂĀčšîēé÷ ïöÝ. öćÿđêĂøŤ ĒĂé ëČĂĀčšî 48.87 ïÝ. ĒúîéĊĚ ēăö ðøąđìýĕì÷

ëČĂĀčšî 37. 8 ïöÝ. ĕéĂĉÝĉ ÙĂøŤðĂđøßĆęî ëČĂĀčšî13.15 îć÷üĉßĉê éĉúÖüĉúćý àċęÜđðŨî ÖøøöÖćø×ĂÜïøĉþĆì éĞćøÜêĞćĒĀîŠÜđðŨîÖøøöÖćø

ความสัมพันธ์

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รายละเอียด และนโยบาย กําหนดราคา

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ลักษณะของ รายการ

11.3

ปี 2555

11.3

ปี 2554

มูลค่ารายการ (ล้านบาท)

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ความจําเป็นและ ความสมเหตุสมผล

50 มาตรการหรือขั้นตอนการอนุมัติการทํารายการระหว่างกัน

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จํานวนพนักงาน

31 ธ.ค. 2555 (คน)

31 ธ.ค. 2554 (คน)

31 ธ.ค. 2553 (คน)

41 16 24 10 18 17 1 2 129

45 15 27 10 16 14 1 2 130

21 18 21 6 15 15 2 2 100

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ปี 2555

58,151,502.67 1,467,8 3.00 562,547.40 60,181, 43.07

ปี 2554

42,886,037. 1 714,646.4 435,133.48 44,035,817.88

ปี 2553

41,743,0 1.27 445, 61.00 166,418.88 42,355,471.15

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69 ÖćøđÿøĉöÿøšćÜÿĆöóĆîíõćóìĊęéĊĔîĂÜÙŤÖø ïøĉþĆìĕéšÝĆéĔĀšöĊÖĉÝÖøøöêŠćÜė øąĀüŠćÜñĎšïøĉĀćø øąĀüŠćÜóîĆÖÜćîéšü÷ÖĆî ĒúąøąĀüŠćÜóîĆÖÜćîÖĆïïøĉþĆì ēé÷ĕéšÝĆéĔĀšöĊÖĉÝÖøøö ÿĆîìîćÖćøĔîøĎðĒïïêŠćÜė đßŠî ÜćîđúĊĚ÷ÜÿĆÜÿøøÙŤêŠćÜė ÿîĆïÿîčîÜïðøąöćèđóČęĂÿŠÜđÿøĉöĔĀšóîĆÖÜćîđúŠîÖĊāćøŠüöÖĆîĀúĆÜÝćÖđúĉÖÜćî đóČęĂĔĀšđÖĉéÙüćöÿîĉìÿîö Ēúąđ×šćĔÝàċęÜÖĆîĒúąÖĆîĂ÷ĎŠđðŨîðøąÝĞć ĒúąĔîðŘìĊęñŠćîöć ïøĉþĆì÷ĆÜÝĆéĔĀšöĊÖĉÝÖøøöđóČęĂÿŠÜđÿøĉöÖćøìĞćÜćîđðŨîìĊö ĔĀšÖĆïóîĆÖÜćîìĆĚÜĂÜÙŤÖø đóČęĂĔĀšìĆĚÜĂÜÙŤÖøĕéšìĞćÖĉÝÖøøöøŠüöÖĆî ēé÷ĕöŠöĊÖćøĒïŠÜøąéĆï×ĂÜóîĆÖÜćî ĂĆîîĞćöćàċęÜÙüćöøŠüööČĂ øŠüöĔÝ ĒúąÙüćö đ×šćàċęÜÖĆîĒúąÖĆîöćÖ×ċĚî îĂÖđĀîČĂÝćÖîĊĚ ïøĉþĆì÷ĆÜÝĆéĔĀšöĊÖćøøĎðĒïïÖćøÿČęĂÿćøÝćÖóîĆÖÜćîĕð÷ĆÜïøĉþĆì ñŠćîÖćøÿĞćøüÝÙüćöóċÜóĂĔÝ×ĂÜ óîĆÖÜćî ĔîéšćîêŠćÜė ĂĊÖéšü÷ ĂĆîÝąìĞćĔĀšïøĉþĆì ñĎšïøĉĀćøĕéšøĆïìøćïĒúąđ×šćĔÝÙüćöêšĂÜÖćø×ĂÜóîĆÖÜćîöćÖ÷ĉęÜ×ċĚî ĂĆîÝąîĞćĕðÿĎŠÖćøĀćìćÜ ĒÖšĕ×ðøĆïðøčÜ ēé÷ïøĉþĆì öĊÙüćöđßČęĂöĆęîüŠćÖćøÿČęĂÿćøìĊęéĊ ĒúąĒúÖđðúĊę÷îÙüćöÙĉéđĀĘîøąĀüŠćÜñĎšïøĉĀćøĒúąóîĆÖÜćîÝąîĞćĕðÿĎŠÿĆöóĆîíõćóìĊęéĊ øąĀüŠćÜñĎšïøĉĀćøĒúąóîĆÖÜćîìčÖøąéĆï ĒúąìĞćĔĀšïøøúčđðŜćĀöć÷ĂÜÙŤÖøøŠüöÖĆîĕéšĂĊÖéšü÷ éšćîÖćøéĎĒúøĆÖþćÿõćóĒüéúšĂöĔîÖćøìĞćÜćî ÙèąÖøøöÖćøĕéšÖĞćĀîéîē÷ïć÷ÖćøðøĆïðøčÜÿĞćîĆÖÜćîĒúąÝĆéÿõćóĒüéúšĂöĔîÖćøìĞćÜćîĔĀšóîĆÖÜćî ēé÷öčŠÜđîšîĔĀšóîĆÖÜćîĕéšöĊ ÙüćöøĎšÿċÖ đĀöČĂîđðŨîïšćîĀúĆÜìĊę 2 đóČęĂĔĀšïøĉđüèÿëćîìĊęìĞćÜćîĒúąÿõćóĒüéúšĂööĊïøø÷ćÖćýìĊęéĊđĀöćąêŠĂÖćøðäĉïĆêĉÜćî ĂĊÖìĆĚÜïøĉþĆì÷ĆÜ ĕéšÙĞćîċÜëċÜÿč×õćóĂîćöĆ÷ ÙüćöÿąĂćéĒúąÙüćöðúĂéõĆ÷êŠĂßĊüĉêĒúąìøĆó÷Ťÿĉî×ĂÜóîĆÖÜćî ÝċÜĕéšÝĆéĔĀšÖĉÝÖøøö 5 ÿ ĔîÿĞćîĆÖÜćî Ă÷ŠćÜêŠĂ đîČęĂÜ ēé÷ÖĞćĀîéĔĀšöĊÖćøðøąÖüéóČĚîìĊę 5 ÿ õć÷ĔîïøĉþĆì ìčÖĕêøöćÿ ĂĊÖìĆĚÜïøĉþĆì÷ĆÜöĊđÝšćĀîšćìĊęđÝšćĀîšćìĊęÙüćöðúĂéõĆ÷øąéĆïïøĉĀćø Ēúą đÝšćĀîšćìĊęÙüćöðúĂéõĆ÷øąéĆïüĉßćßĊó øüöëċÜÖćøÝĆéĔĀšöĊÙèąÖøøöÖćøÙüćöðúĂéõĆ÷ĂćßĊüĂîćöĆ÷ĒúąÿõćóĒüéúšĂöĔîÿëćîðøąÖĂïÖćø đóČĂę øŠüöéĎĒúÿüĆÿéĉÖćøĒúąÙüćöðúĂéõĆ÷ĔîÿĞćîĆÖÜćî ĒúąïøĉþìĆ ÷ĆÜÙÜđ×šćøŠüöēÙøÜÖćøēøÜÜćîÿĊ×ćü ÖĆïÖøąìøüÜĒøÜÜćîĒúąÿüĆÿéĉÖćøÿĆÜÙö đóČęĂĒÿéÜđÝêîćøöèŤĔîÖćøìĞćĔĀšÿĞćîĆÖÜćîđðŨîÿĞćîĆÖÜćîðúĂé÷ćđÿóêĉéĂ÷ŠćÜêŠĂđîČęĂÜĂĊÖéšü÷

การควบคุมภายใน

ระบบการควบคุมภายใน

ïøĉþĆìĕéšĔĀšÙüćöÿĞćÙĆâêŠĂÖćøÙüïÙčöõć÷ĔîĂ÷ŠćÜêŠĂđîČęĂÜ ēé÷ÙèąÖøøöÖćøïøĉþĆì ĕéšöĂïĀöć÷ĔĀšÙèąÖøøöÖćøêøüÝÿĂï ÿĂïìćîÖćøðøąđöĉîøąïïÖćøÙüïÙčöõć÷Ĕî đóČęĂöčŠÜđîšîĔĀšøąïïÖćøÙüïÙčöõć÷ĔîöĊÙüćöđóĊ÷ÜóĂĒúąđĀöćąÿöÖĆïÖćøéĞćđîĉîíčøÖĉÝ ĒúąöĊ ðøąÿĉìíĉñúðøąÿĉìíĉõćóĔîÖćøéĞćđîĉîÜćî øüöìĆĚÜÖćøĔßšìøĆó÷ćÖø ÖćøéĎĒúøĆÖþćìøĆó÷Ťÿĉî ÖćøðŜĂÜÖĆî ĀøČĂúéÙüćöñĉéóúćé ÙüćöđÿĊ÷Āć÷ ÖćøøĆęüĕĀú ÖćøÿĉĚîđðúČĂÜĀøČĂÖćøìčÝøĉê øąïïïĆâßĊĒúąøć÷ÜćîìćÜÖćøđÜĉîöĊÙüćöëĎÖêšĂÜđßČęĂëČĂĕéš øüöìĆĚÜÖćøðäĉïĆêĉêćöÖãĀöć÷ øąđïĊ÷ï ×šĂïĆÜÙĆïìĊęđÖĊę÷ü×šĂÜÖĆïÖćøéĞćđîĉîíčøÖĉÝ×ĂÜïøĉþĆì ÖøøöÖćøêøüÝÿĂïðäĉïĆêĉĀîšćìĊęĒúąĒÿéÜÙüćöÙĉéđĀĘîĕéšĂ÷ŠćÜĂĉÿøą ēé÷öĊÿĞćîĆÖÜćîêøüÝÿĂïõć÷ĔîÝćÖ ïøĉþĆì ÿĂïïĆâßĊ ĕĂ üĊ ĒĂú ÝĞćÖĆé đ×šćöćìĞćÖćøêøüÝÿĂïõć÷ĔîđóČęĂĔĀšïøĉþĆìöĊøąïïÖćøÙüïÙčöõć÷Ĕî øąïïêøüÝÿĂïõć÷Ĕî ìĊęøĆéÖčö đĀöćąÿö ìĆîÿöĆ÷ ĒúąöĊ ðøąÿĉìíĉõćó ēé÷ĕéšöĊÖćøêøüÝÿĂïøąïïÖćøÙüïÙčöõć÷ĔîêŠćÜė éĆÜîĊĚ 1. 2. 3. 4. 5.

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ĒúąöĊÖćøêøüÝÿĂïđóĉęöđêĉöĔîÿŠüî×ĂÜøąïï ÿćøÿîđìýðŘúą 2 ÙøĆĚÜ ÿĞćîĆÖÜćîêøüÝÿĂïõć÷Ĕî ìĞćĀîšćìĊðę øąđöĉîÖćøÙüïÙčöõć÷ĔîêćöĒîüðäĉïêĆ ìĉ ÖĊę øøöÖćøïøĉþìĆ ÖĞćĀîé ēé÷öĊîē÷ïć÷êøüÝÿĂïĔî đßĉÜðŜĂÜÖĆîĒúąđðŨîðøąē÷ßîŤÖĆïĀîŠü÷Üćî óĉÝćøèćÙüćöîŠćđßČęĂëČĂĔîÙüćöëĎÖêšĂÜ×ĂÜøć÷ÜćîìćÜÖćøđÜĉî êøüÝÿĂïÖćøđðŗéđñ÷×šĂöĎúĂ÷ŠćÜ đóĊ÷ÜóĂĔĀšđÖĉéÙüćöēðøŠÜĔÿ êøüÝÿĂïÖćøðäĉïĆêĉêćöĒîüìćÜÖćøÖĞćÖĆïéĎĒúÖĉÝÖćøìĊęéĊ Ēúąđóĉęöðøąÿĉìíĉõćó ðøąÿĉìíĉñúĔîÖćøéĞćđîĉîÜćî øüöìĆÜĚ ÖćøÿĂïìćîÖćøðŜĂÜÖĆîÖćøìčÝøĉêõć÷ĔîĂÜÙŤÖø ēé÷÷ċéĀúĆÖĒîüÖćøêøüÝÿĂïêćööćêøåćîÿćÖú Ēúąøć÷ÜćîêŠĂÖøøöÖćøêøüÝÿĂï ìčÖĕêøöćÿ Ĕîøć÷ÜćîðøąÖĂïéšü÷×šĂđÿîĂĒîą ëšćöĊ øüöìĆĚÜÖćøéĞćđîĉîÜćî×ĂÜòść÷ïøĉĀćøêćö×šĂđÿîĂĒîą ĒúąìčÖÿĉĚîðŘĕéšÝĆéìĞćøć÷Üćî ĒîüìćÜÖćøðŜĂÜÖĆîÖćøìčÝøĉêĔîĂÜÙŤÖøĒúąìïìüîìčÖÿĉĚîðŘ ðŘ 2555 ÙèąÖøøöÖćøêøüÝÿĂïĕéšÿĂïìćîøąïïÖćøÙüïÙčöõć÷ĔîàċęÜðøąđöĉîēé÷ñĎšïøĉĀćøĒúąÿĞćîĆÖêøüÝÿĂïõć÷Ĕî ĕöŠ óïðøąđéĘîðŦâĀćĀøČĂ×šĂïÖóøŠĂÜìĊęđðŨîÿćøąÿĞćÙĆâ àċęÜÿĂéÙúšĂÜÖĆïÙüćöđĀĘî×ĂÜñĎšÿĂïïĆâßĊ×ĂÜïøĉþĆì øąïïÖćøÙüïÙčöõć÷Ĕî×ĂÜ ïøĉþĆì öĊÙüćöđóĊ÷ÜóĂĒúąöĊðøąÿĉìíĉñú การบริหารความเสี่ยง

ïøĉþĆì öćÿđêĂøŤ ĒĂé ÝĞćÖĆé öĀćßî ĒúąïøĉþĆìĔîđÙøČĂ êøąĀîĆÖĒúąĔĀšÙüćöÿĞćÙĆâêŠĂÖćøïøĉĀćøÝĆéÖćøĂÜÙŤÖøìĊęéĊđóČęĂ×ĆïđÙúČęĂî ĂÜÙŤÖøĔĀšöÙĊ üćöđêĉïēê Ēúą×÷ć÷íčøÖĉÝĂ÷ŠćÜöĊÿđëĊ÷øõćó öĊåćîąìćÜÖćøđÜĉîìĊöę îĆę ÙÜĒúąÿćöćøëÿøšćÜñúêĂïĒìîĒÖŠñëšĎ ĂČ Āčîš ĔîøąéĆïìĊđę Āöćąÿö õć÷ĔêšÖćøéĞćđîĉîíčøÖĉÝìĊęöĊÙüćöÿúĆïàĆïàšĂîĒúąđðúĊę÷îĒðúÜĂ÷ŠćÜêŠĂđîČęĂÜ ÙèąÖøøöÖćø ĒúąñĎšïøĉĀćø×ĂÜïøĉþĆìĄ đĀĘîÙüøĔĀšöĊ ÖćøîĞćøąïïÖćøïøĉĀćøÙüćöđÿĊę÷ÜöćĔßšĔîĂÜÙŤÖø ĔĀšđðŨîđÙøČęĂÜöČĂðøąÖĂïÖćøÖĞćĀîéìĉýìćÜ ÖćøüćÜÖú÷čìíŤ ĒúąÖćøéĞćđîĉîíčøÖĉÝ×ĂÜïøĉþĆì ìĊęÝąđÿøĉöÿøšćÜýĆÖ÷õćóĒúąđóĉęöēĂÖćÿìćÜíčøÖĉÝøüöìĆĚÜÖćøðøĆïðøčÜÖøąïüîÖćøðäĉïĆêĉÜćîĂ÷ŠćÜêŠĂđîČęĂÜ ĂĆîÝąđðŨîÖćøÿîĆïÿîčîĔĀšïøĉþĆìĄ ÿćöćøëïøøúčüĆêëčðøąÿÜÙŤĔîõćóøüöìĊęöĊÖćøÖĞćÖĆïéĎĒúÖĉÝÖćøìĊęéĊ ĒúąÿćöćøëÿøšćÜöĎúÙŠćđóĉęöĔĀšĒÖŠñĎšëČĂĀčšîĒúąñĎšđÖĊę÷ü×šĂÜ ēé÷ÖćøÖĞćĀîé ĔĀšÖćøïøĉĀćøÙüćöđÿĊę÷ÜđðŨîÿŠüîĀîċęÜ×ĂÜüĆçîíøøöĂÜÙŤÖøĔîÖćøðãĉïĆêĉÜćî ĒúąĔĀšóîĆÖÜćîìčÖÙîĔîìčÖøąéĆïßĆĚîêøąĀîĆÖëċÜĀîšćìĊęÙüćö øĆïñĉéßĂïĔîÖćøïøĉĀćøÙüćöđÿĊę÷ÜøŠüöÖĆîÝċÜÖĞćĀîéîē÷ïć÷ÖćøïøĉĀćøÙüćöđÿĊę÷Ü éĆÜîĊĚ

71 1. ÙüćöđÿĊę÷ÜìĊę÷ĂöøĆïĕéš ĒúąøąéĆïÙüćöđÿĊę÷ÜìĊę÷ĂöøĆïĕéš×ĂÜïøĉþĆì êšĂÜĕéšøĆïÖćøĂîčöĆêĉēé÷ÙèąÖøøöÖćøïøĉĀćøÙüćöđÿĊę÷Ü ÖŠĂîîĞćĕðĔßšðäĉïĆêĉ 2. éĞćđîĉîÖćøĔĀšÖćøïøĉĀćøÙüćöđÿĊ÷ę ÜđðŨîÙüćöøĆïñĉéßĂï×ĂÜóîĆÖÜćîĔîìčÖøąéĆïßĆîĚ ìĊêę Ăš ÜêøąĀîĆÖëċÜÙüćöđÿĊ÷ę ÜìĊöę ĔĊ îÖćøðãĉïêĆ ĉ ÜćîĔîĀîŠü÷Üćî×ĂÜêîĒúąĔîĂÜÙŤÖø ĒúąêšĂÜĔĀšÙüćöÿĞćÙĆâÖĆïÖćøïøĉĀćøÙüćöđÿĊ÷ę ÜêŠćÜė ĕéšøïĆ ÖćøïøĉĀćøÝĆéÖćøõć÷ĔêšÖćø ÙüïÙčöõć÷ĔîĂ÷ŠćÜöĊøąïïĔĀšĂ÷ĎŠĔîøąéĆïìĊęđóĊ÷ÜóĂĒúąđĀöćąÿö Ēúą÷ĂöøĆïĕéš 3. ÿŠÜđÿøĉöĒúąÿîĆïÿîčîĔĀšÖćøïøĉĀćøÙüćöđÿĊę÷ÜđðŨîđÙøČęĂÜöČĂÿĞćÙĆâĔîÖćøïøĉĀćøÝĆéÖćøìĊęïčÙúćÖøìčÖøąéĆïêšĂÜöĊÙüćöđ×šćĔÝ öĊ ÙüćöøŠüööČĂ öĊÙüćöøŠüöĔÝĒúąøŠüöÖĆîĔßšÖćøïøĉĀćøÙüćöđÿĊę÷ÜÿøšćÜõćóúĆÖþèŤìĊęéĊ đÿøĉöÿøšćÜÖćøÖĞćÖĆïéĎĒúÖĉÝÖćøìĊęéĊ Öćø ïøĉĀćøÝĆéÖćøìĊęđðŨîđúĉý ĒúąÿøšćÜÙüćöđßČęĂöĆęîĔĀšÖĆïñĎšëČĂĀčšî ñĎšöĊÿŠüîĕéšđÿĊ÷ ĒúąñĎšĔßšïøĉÖćø×ĂÜïøĉþĆìĄ 4. ÿŠÜđÿøĉöĒúąóĆçîćÖćøîĞćøąïïđìÙēîēú÷ĊÿćøÿîđìýìĊìę îĆ ÿöĆ÷öćĔßšĔîÖøąïüîÖćøïøĉĀćøÙüćöđÿĊ÷ę Ü×ĂÜïøĉþìĆ Ą ĒúąÿîĆïÿîčî ĔĀšïčÙúćÖøìčÖøąéĆïÿćöćøëđ×šćëċÜĒĀúŠÜ×šĂöĎú×ŠćüÿćøÖćøïøĉĀćøÙüćöđÿĊę÷ÜĂ÷ŠćÜìĆęüëċÜ êúĂéÝîÖćøÝĆéøąïïÖćøøć÷ÜćîÖćø ïøĉĀćøÙüćöđÿĊ÷ę ÜĔĀšÙèąìĞćÜćîïøĉĀćøÙüćöđÿĊ÷ę Ü×ĂÜïøĉþìĆ Ą ĒúąÙèąÖøøöÖćøïøĉĀćøÙüćöđÿĊ÷ę ÜđðŨîĕðĂ÷ŠćÜöĊðøąÿĉìíĉõćó

ปัจจัยความเสี่ยง

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îē÷ïć÷ÖćøđÜĉîĔîðŘ 2555 íðì. ÝąđîšîÖćøéĎĒúøĆÖþćđÿëĊ÷øõćóìćÜéšćîđýøþåÖĉÝĔĀšÿĂéÙúšĂÜÖĆïüĆäÝĆÖøēúÖ ÝćÖðŦâĀćÖćøßąúĂ êĆü×ĂÜđýøþåÖĉÝēúÖđðŨîðøąđéĘîìĊêę Ăš ÜêĉéêćöĂ÷ŠćÜĔÖúšßéĉ đóøćąĂćÝÝąÖøąìïêŠĂđýøþåÖĉÝĕì÷ ×èąđéĊ÷üÖĆîìĊĒę øÜÖééĆîêŠĂđÜĉîđôŜĂìĊÝę ąđðŨî ðŦÝÝĆ÷đÿĊę÷ÜêŠĂđýøþåÖĉÝĕì÷îšĂ÷úÜđöČęĂđìĊ÷ïÖĆïðŘ 2554 éĆÜîĆĚîĒîüîē÷ïć÷ÖćøđÜĉî×ĂÜ íðì. ÖĘÝąđîšîìĞćĔĀšíčøÖĉÝĕì÷đêĉïēêĒúąøĆïöČĂÙüćö ñĆîñüî×ĂÜđýøþåÖĉÝēúÖĕéš đöČęĂêšîðŘ 2555 ÙèąÖøøöÖćøîē÷ïć÷ÖćøđÜĉî ÖîÜ. íîćÙćøĒĀŠÜðøąđìýĕì÷ íðì. êĆéÿĉîĔÝðøĆïúéĂĆêøć éĂÖđïĊĚ÷ úÜ 0.25 ÝćÖ 3.25 öćĂ÷ĎŠìĊę 3 đóČęĂÖøąêčšîÖøąïüîÖćøôŚŪîôĎđýøþåÖĉÝĔĀšÖúĆïÿĎŠõćüąðÖêĉ ĀúĆÜÝćÖñŠćîóšîÿëćîÖćøèŤĂčìÖõĆ÷ ÙøĆĚÜĔĀâŠ ßŠüÜðúć÷ ðŘ 2554 ìĊęÿøšćÜÙüćöđÿĊ÷Āć÷êŠĂđýøþåÖĉÝĕì÷ ĒúąÖøąìïêŠĂÙüćöđßČęĂöĆęî×ĂÜîĆÖúÜìčîóĂÿöÙüø àċęÜđýøþåÖĉÝĕì÷ÙŠĂ÷ė ôŚîŪ êĆü×ċîĚ ēé÷úĞćéĆï êŠĂöćÿŠÜìšć÷ðŘ ÖîÜ. êĆéÿĉîĔÝúéĂĆêøćéĂÖđïĊ÷Ě úÜĂĊÖ 0.25 đĀúČĂ 2.75 ĀúĆÜÝćÖÙÜĂĆêøćéĂÖđïĊ÷Ě ìĊøę ąéĆï 3 öćêĆÜĚ ĒêŠêîš ðŘ ĔîÿŠüî×ĂÜÙüćöđÿĊ÷ę ÜìćÜéšćîÖćøđÜĉî×ĂÜïøĉþìĆ ĔîðŘìñĊę ćŠ îöć ïøĉþìĆ ÷ĆÜÙÜĕöŠĕéšøïĆ ñúÖøąìïĒêŠĂ÷ŠćÜĔé ÿČïđîČĂę ÜÝćÖĔîðŘ 2555 ïøĉþìĆ ĕöŠöĊÖćøúÜìčîìĊęđðŨîÝĞćîüîöćÖ ĒúąÿŠüîĔĀâŠĔßšđÜĉîìčîĀöčîđüĊ÷î×ĂÜïøĉþĆìĄ ìĊęöĊĂ÷ĎŠđðŨîđðŨîĀúĆÖ ÿĞćĀøĆïÙüćöđÿĊę÷ÜìćÜéšćîĂĆêøćĒúÖđðúĊę÷î ĔîðŘìĊęñŠćîöćïøĉþĆìĕöŠöĊíčøąÖøøöìĊęđÖĊę÷ü×šĂÜÖĆïĂĆêøćĒúÖđðúĊę÷îÝċÜĕöŠĕéšøĆïñúÖøąìïìćÜéšćîĂĆêøćĒúÖđðúĊę÷îđÜĉîêøćêŠćÜðøąđìýđßŠîÖĆî ÙüćöđÿĊ÷ę ÜéšćîÿõćóÙúŠĂÜìĊĂę ćÝđÖĉéÝćÖÙüćöđðŨîĕðĕéšìúĊę ÖĎ ÙšćĂćÝÝąĕöŠÿćöćøëÝŠć÷ßĞćøąĀîĊĔĚ ĀšĒÖŠïøĉþìĆ ĕéšõć÷ĔîÖĞćĀîéđüúćēé÷ ðÖêĉ×ĂÜÖćøÙšć đóČĂę ÝĆéÖćøÙüćöđÿĊ÷ę ÜîĊĚ ïøĉþìĆ ĕéšðøąđöĉîÙüćöÿćöćøëìćÜÖćøđÜĉî×ĂÜúĎÖÙšćđðŨîøą÷ąė ĒúąĔîðŘîïĊĚ øĉþìĆ ÿćöćøëïøĉĀćøÝĆéÖćø ïĆâßĊúĎÖÙšćĕéšĂ÷ŠćÜöĊðøąÿĉìíĉõćó đöČęĂđìĊ÷ïÖĆïøć÷ĕéšìĊęđêĉïēê×ċĚî ĒêŠïĆâßĊúĎÖĀîĊĚĕöŠĕéšđêĉïēêêćöÿĆéÿŠüîøć÷ĕéš ĒúąĔîðŘîĊĚöĎúĀîĊĚìĊęêĆĚÜÿĞćøĂÜĀîĊĚ ÿÜÿĆ÷ÝąÿĎâöĊÝĞćîüîúéúÜÖüŠćðŘ 2554 ĒúąúĎÖĀîĊĚÖćøÙšćöĊĂć÷čĀîĊĚÙšćÜßĞćøąēé÷đÞúĊę÷ìĊę 72 üĆî ÝćÖðŘ 2554 Ă÷ĎŠìĊę 75 üĆî

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ผลต่าง ปี 55 - 54

8.6 17.56 0.0 5.70

10,4 8,43 14.15 7,702, 63 6.37 23 ,505 62.08 4,427,834 .60

76 กําไร

ĔîðŘ 2555 ÖúčŠöïøĉþĆìöĊÖĞćĕø×ĆĚîêšî 352 úšćîïćì ēé÷ĂĆêøćÖĞćĕø×ĆĚîêšîöĊÖćøðøĆïđóĉęö×ċĚîĂ÷ĎŠìĊęøšĂ÷úą 7.25 đöČęĂđìĊ÷ïÖĆïðŘ 2554 ÿĞćĀøĆïðŘ 2555 öĊÖĞćĕøÿčìíĉ 13 úšćîïćì đóĉęö×ċĚîÝćÖ ðŘ 2554 ÝĞćîüî 41 úšćîïćì งบการเงินรวม ปี 2555

ปี 2554

ÖĞćĕø×ĆĚîêšî ÖĞćĕøÿčìíĉ ÖĞćĕøÿŠüîìĊęđðŨî×ĂÜïøĉþĆìêŠĂĀčšî

ผลต่าง ปี 55 - 54

32 ,030,732 51.77 352,875,070 48.18 7,417,8 8 15.33 13 ,068,804 18. 0.56 0.80

23,844,338 7.25 41,650, 06 42.75 0.24 42.38

ĔîðŘ 2555 ïøĉþĆìöĊÖĞćĕø×ĆĚîêšîđóĉęö×ċĚîÝćÖðŘ 2554 øšĂ÷úą 7.25 ĒúąöĊÖĞćĕøÿčìíĉđóĉęö×ċĚîøšĂ÷úą 42.75 ēé÷öĊÖĞćĕøÿčìíĉêŠĂøć÷ĕéšÝćÖ ÖćøïøĉÖćøĒúąÖćø×ć÷øšĂ÷úą 18. ēé÷öĊÿćđĀêčöćÝćÖĔîðŘ 2555 öĊøć÷ĕéšÝćÖÖćø×ć÷ĒúąïøĉÖćøÝćÖÿČęĂđéĉöđóĉęö×ċĚî ÖćøïøĉĀćøêšîìčîìćÜ éšćîÖćøñúĉêìĊęöĊÙčèõćóĕéšøćÙćìĊęđĀöćąÿö ĒúąÖćøïøĉĀćøÝĆéÖćøúĎÖĀîĊĚìĊęöĊðøąÿĉìíĉõćó ìĞćĔĀšïĆâßĊÿĞćøĂÜĀîĊĚÿÜÿĆ÷ÝąÿĎâöĊĂĆêøćúéúÜ Ēúą ìĞćĔĀšïøĉþĆìöĊĂĆêøćñúêĂïĒìîÝćÖñĎšëČĂĀčšî 30& ĔîðŘ 2555 Ă÷ĎŠìĊęøšĂ÷úą 25 ēé÷öĊÖĞćĕøêŠĂĀčšîĂ÷ĎŠìĊę 0.80 ïćì Ĕî×èąìĊęĔîðŘ 2554 öĊĂĆêøć ñúêĂïĒìîÝćÖñĎšëČĂĀčšî 30& Ă÷ĎŠìĊęøšĂ÷úą 1 .53 สินทรัพย์

ÿŠüîðøąÖĂï×ĂÜÿĉîìøĆó÷Ť ÖúčŠöïøĉþĆìöĊÿĆéÿŠüîēÙøÜÿøšćÜ×ĂÜÿĉîìøĆó÷ŤĀöčîđüĊ÷îĒúąÿĉîìøĆó÷ŤĕöŠĀöčîđüĊ÷îĔîĂĆêøć 1 êŠĂ 0.47 úĆÖþèąÖćøðøąÖĂïíčøÖĉÝ×ĂÜ ÖúčŠöïøĉþĆì ÿĉîìøĆó÷ŤĀöčîđüĊ÷îēé÷ÿŠüîĔĀâŠÝąđðŨîđÜĉîÿéĒúąøć÷ÖćøđìĊ÷ïđìŠćđÜĉîÿé ĒúąúĎÖĀîĊĚÖćøÙšć ĀîŠü÷ ïćì

งบการเงินรวม 2555

2554

งบการเงินเฉพาะของบริษัท 2555

2554

ðøĆïðøčÜĔĀöŠ

ÿĉîìøĆó÷Ť øüöÿĉîìøĆó÷ŤĀöčîđüĊ÷î øüöÿĉîìøĆó÷ŤĕöŠĀöčîđüĊ÷î øüöÿĉîìøĆó÷Ť

506,766,744 23 ,103,684 745,870,428

444,608,527 276,076,028 720,684,555

43 ,87 ,430 17 ,786,123 61 ,665,553

314,330,188 20 ,133,887 523,464,075

Ĕî×èąìĊęÿĉîìøĆó÷ŤĕöŠĀöčîđüĊ÷îÝąđðŨîìĊęéĉî ĂćÙćøĒúąĂčðÖøèŤ àċęÜÿŠüîĔĀâŠđðŨîÿČęĂðŜć÷ēÛþèć ĔîðŘ 2555 ÖúčŠöïøĉþĆìöĊÿĉîìøĆó÷Ť øüö 745.87 úšćîïćì ĒïŠÜđðŨîÿĉîìøĆó÷ŤĀöčîđüĊ÷î 506.76 úšćîïćì àċęÜÙĉéđðŨîÿĆéÿŠüîøšĂ÷úą 67. 4 ×ĂÜÿĉîìøĆó÷Ťøüö đóĉęö×ċĚîĂĆêøćøšĂ÷úą 13. 8 ÝćÖðŘ 2554 ÿćđĀêčĀúĆÖöćÝćÖÖćøđóĉęö×ċĚî×ĂÜúĎÖĀîĊĚÖćøÙšćÝćÖÖćøìĊęöĊøć÷ĕéšđóĉęö×ċĚî ĒúąđÜĉîúÜìčîßĆęüÙøćüđóĉęö×ċĚîÝćÖÖćøîĞćđÜĉîÿé òćÖđÜĉîòćÖðøąÝĞćđóĉęö×ċĚî ĔîðŘ 2555 ÖúčŠöïøĉþĆìöĊđÜĉîÿéĒúąøć÷ÖćøđìĊ÷ïđìŠćđÜĉîÿé 232 úšćîïćì ÙĉéđðŨîÿĆéÿŠüîøšĂ÷úą 31.17 ×ĂÜÿĉîìøĆó÷Ťøüö đóĉęö×ċĚî ÝćÖðŘ 2554 ìĊęöĊÿĆéÿŠüîĂ÷ĎŠðøąöćèøšĂ÷úą 30.53 ×ĂÜÿĉîìøĆó÷ŤøüöĒúąïøĉþĆìöĊúĎÖĀîĊĚÖćøÙšć ÙĉéđðŨîÿĆéÿŠüîøšĂ÷úą 20.85 ×ĂÜÿĉîìøĆó÷Ťøüö đóĉęö×ċĚîÝćÖðŘ 2554 ðøąöćèøšĂ÷úą 16.15 Ĕî×èąìĊęøć÷ĕéšÝćÖÖćøïøĉÖćøĒúąÖćø×ć÷ đóĉęö×ċĚîĂ÷ĎŠìĊęøšĂ÷úą 15.24 ĔîðŘ 2555 ÖúčŠöïøĉþĆìöĊÿĉîìøĆó÷ŤĕöŠĀöčîđüĊ÷î 23 .10 úšćîïćì àċęÜÙĉéđðŨîÿĆéÿŠüîøšĂ÷úą 32.06 ×ĂÜÿĉîìøĆó÷Ťøüö úéúÜĂĆêøć øšĂ÷úą 13.3 ÝćÖðŘ 2554 ÿćđĀêčĀúĆÖöćÝćÖÖćøÝĞćĀîŠć÷ĂčðÖøèŤÙÜđĀúČĂøĂÖćøĔßšÜćîÝĞćîüî 13 úšćîïćì ĒúąîĂÖÝćÖîĊĚđÖĉéÝćÖÖćø ēĂîÜćîøąĀüŠćÜìĞćĕðđðŨîêšîìčî×ć÷đóČĂę ÿĂéÙúšĂÜÖĆïøć÷ĕéšìđĊę ÖĉéĔîðŘ 2555 ĒúąÖćøĔßšïøĉÖćøìĊðę øċÖþćÝŠć÷úŠüÜĀîšćđóČĂę ìĞćÖćøýċÖþćüĉÝ÷Ć Ēúą óĆçîćĔîēÙøÜÖćøêŠćÜė ìĊęĂćÝÝąđÖĉé×ċĚîĔîĂîćÙê

77 คุณภาพของสินทรัพย์

ĔîÿŠüî×ĂÜÙčèõćó×ĂÜúĎÖĀîĊĚ ÖúčŠöïøĉþĆìöĊîē÷ïć÷ĔîÖćøÖĞćĀîéøą÷ąđüúćßĞćøąĀîĊĚđÞúĊę÷ĕöŠđÖĉî 60 üĆî è 31 íĆîüćÙö 2555, 2554 Ēúą 2553 øą÷ąđüúćÖćøßĞćøąĀîĊĚēé÷đÞúĊę÷×ĂÜúĎÖĀîĊĚ×ĂÜÖúčŠöïøĉþĆìĂ÷ĎŠìĊę 72 üĆî 75 üĆî Ēúą 86 üĆî êćöúĞćéĆïàċęÜøą÷ąđüúćđÖĘïĀîĊĚéĆÜ ÖúŠćüĔîðŘ 55 öĊøą÷ąđüúćìĊęÝĆéđÖĘïÿĎÜÖüŠćîē÷ïć÷ïøĉþĆì öćÿđêĂøŤ ĒĂé ÝĞćÖĆé öĀćßî Ă÷ŠćÜĕøÖĘêćöïøĉþĆìĕéšöĊÖćøïøĉĀćøúĎÖĀîĊĚĂ÷ŠćÜĔÖúšßĉé êĆÜĚ ĒêŠđðŗé ðŗéÖćø×ć÷ ÿŠÜöĂïÜćî ïøĉÖćøĀúĆÜÖćø×ć÷ ÝîÖøąìĆÜę đøĊ÷ÖđÖĘïßĞćøąĀîĊĚ øŠüöÖĆïòść÷×ć÷ đóČĂę ïøĉĀćøúĎÖĀîĊĔĚ ĀšöðĊ øąÿĉìíĉõćóöćÖ×ċîĚ ĔîÖøèĊìĊęúĎÖÙšćöĊÖćøñĉéîĆéßĞćøąĀîĊĚđÖĉîÖĞćĀîéđüúć ĀîŠü÷ÜćîđøŠÜøĆéĀîĊĚÿĉîÝąéĞćđîĉîÖćøÿŠÜđøČęĂÜđ×šćÿŠüîÖãĀöć÷×ĂÜïøĉþĆì đóČęĂĔĀš éĞćđîĉîÖćøêĉéêćöĀîĊĚ ēé÷ïøĉþĆìÝąìĞćÖćøóĉÝćøèćêĆĚÜÙŠćđñČęĂĀîĊĚÿÜÿĆ÷êćöÙüćöđĀöćąÿöđðŨîøć÷ė ĀîŠü÷ ïćì

อายุหนี้ค้างชําระ

งบการเงินรวม

úĎÖĀîĊĚÖćøÙšć úĎÖÙšćìĆęüĕð ÷ĆÜĕöŠëċÜÖĞćĀîéßĞćøą đÖĉîÖĞćĀîéßĞćøą îšĂ÷ÖüŠć 3 đéČĂî 3 6 đéČĂî 6 12 đéČĂî öćÖÖüŠć 12 đéČĂî×ċĚîĕð øüö ĀĆÖ ÙŠćđñČęĂĀîĊĚÿÜÿĆ÷ÝąÿĎâ úĎÖĀîĊĚÖćøÙšć úĎÖÙšćìĆęüĕð ÿčìíĉ

งบการเงินเฉพาะของบริษัท

2555

2554

2555

2554

, 4 ,525

6,572,126

62,1 8,43

58,72 ,125

44,286,1 6, 68,103 2,154,260 37, 24,451 1 1,282,538 35,802,664

155,47 ,874

25,8 4,021 8,030, 51 2,101,14 3 ,240,248 171,838,4 5 37, 73,274

133,865,221

2 ,322,165 6,285,443 1, 44, 68 20,825,761 120,576,776 18, 6 , 13

101,606,863

18,665, 12 6,416,001 1,523,058 20,47 ,465 105,813,561 1 ,31 ,4 1

86,4 4,070

ÿĞćĀøĆïĂć÷čúĎÖĀîĊĚ×ĂÜïøĉþĆìÿćöćøëÿøčðĕéšéĆÜîĊĚ ÿĆéÿŠüî×ĂÜúĎÖĀîĊĚêŠĂúĎÖĀîĊĚøüö

Ļ Ļ Ļ

ÖŠĂîëċÜÖĞćĀîéßĞćøą õć÷Ĕî 3 đéČĂî öćÖÖüŠć 3 đéČĂî

64 28 8

ĔîøąĀüŠćÜðŘ ïøĉþĆìöĊøć÷ÖćøđÙúČęĂîĕĀü×ĂÜÙŠćđñČęĂĀîĊĚÿÜÿĆ÷ÝąÿĎâéĆÜêŠĂĕðîĊĚ ĀîŠü÷ ïćì

งบการเงินรวม

÷ĂéÙÜđĀúČĂ è üĆîìĊę 1 öÖøćÙö 2555 ïüÖ êĆĚÜÙŠćđñČęĂđóĉęö×ċĚîøąĀüŠćÜðŘ ĀĆÖ ĀîĊĚÿĎâ ĀĆÖ ĀîĊĚÿĎâĕéšøĆïÙČî ÷ĂéÙÜđĀúČĂ è üĆîìĊę 31 íĆîüćÙö 2555 ÿĞćĀøĆïĔîðŘ 2555 öĊĀîĊĚÿÜÿĆ÷ÝąÿĎâ ìĊęÿćöćøëđøĊ÷ÖÖúĆïÙČîöćĕéš ÝĞćîüî 3. 4 úšćîïćì

37, 73,274 1,7 3,815 22,452

3, 41, 73

35,802,664

งบการเงินเฉพาะของ บริษัท

1 ,31 ,4 1 1,255,315 22,452

1,582,441

18, 6 , 13

78 สภาพคล่อง กระแสเงินสด

ĀîŠü÷ ïćì

งบการเงินรวม 2555

2554

งบการเงินเฉพาะของบริษัท 2555

2554

ÖøąĒÿđÜĉîÿéÝćÖÖĉÝÖøøöéĞćđîĉîÜćî ÖĞćĕøÖŠĂîõćþĊđÜĉîĕéš đÜĉîÿéĕéšöćÝćÖÖćøéĞćđîĉîÜćîÖŠĂîÖćøđðúĊę÷îĒðúÜ ĔîÿĉîìøĆó÷ŤĒúąĀîĊĚÿĉîéĞćđîĉîÜćî đÜĉîÿéÿčìíĉĕéšöćÝćÖÖĉÝÖøøöéĞćđîĉîÜćî đÜĉîÿéĕéšöćÝćÖ ĔßšĕðĔî ÖĉÝÖćøøöúÜìčî ÿčìíĉ đÜĉîÿéĔßšĕðĔîÖĉÝÖøøöÝĆéĀćđÜĉî ÿčìíĉ

180,786,562

143,563,4 0

224,044,325

10 ,7 8,527

206,776, 3 142,661,175 37,226,52

2, 65,816

183,37 ,725 147,611,16 54,40 ,441

1,26 ,884

124,284,0 6 76,5 ,112 18,202,754 72, 63,78

123,2 7,273 115,01 ,863 16, 30,877

3,71 ,8 4

đÜĉîÿéĒúąøć÷ÖćøđìĊ÷ïđìŠćđÜĉîÿéđóĉęö×ċĚîÿčìíĉ đÜĉîÿéĒúąøć÷ÖćøđìĊ÷ïđìŠćđÜĉîÿéêšîðŘ đÜĉîÿéĒúąøć÷ÖćøđìĊ÷ïđìŠćđÜĉîÿéÿĉĚîðŘ

12,468,830 220,033,621 232,502,451

1, 31,844 218,101,777 220,033,621

21,838,077 155, 86,656 177,824,733

4,36 ,0 2 151,617,564 155, 86,656

ĔîðŘ 2555 ÖúčŠöïøĉþĆìöĊĒĀúŠÜđÜĉîìčîÿĞćÙĆâöćÝćÖÖĞćĕøÿčìíĉðøąÝĞćðŘ ĒúąđöČęĂóĉÝćøèćøŠüöÖĆïđÜĉîìčîĀöčîđüĊ÷îĒúšüìĞćĔĀšÖúčŠöïøĉþĆì öĊÖøąĒÿđÜĉîÿéÿčìíĉĕéšöćÝćÖÖĉÝÖøøöéĞćđîĉîÜćîìĆÜĚ ÿĉîĚ 142.66 úšćîïćì ēé÷ÖúčöŠ ïøĉþìĆ öĊĔßšÖøąĒÿđÜĉîÿééĆÜÖúŠćüĔîÖćøßĞćøąÙŠćĔßšÝćŠ ÷ĔîÖćø ïøĉĀćøÜćîĒúąÙŠćĔßšÝŠć÷ĔîÖćøéĞćđîĉîíčøÖĉÝìĆęüĕð ðŘ 2555 ïøĉþìĆ öĊÖćøÝŠć÷đÜĉîðŦîñúĔĀšĒÖŠñëšĎ ĂČ Āčîš 68.76 úšćîïćì đðŨîñúĔĀšÖúčöŠ ïøĉþìĆ öĊÖøąĒÿđÜĉîÿéĔßšĕðĔîÖĉÝÖøøöÝĆéĀćđÜĉîìĆÜĚ ÿĉîĚ 2. 7 úšćîïćì đöČĂę óĉÝćøèćÖøąĒÿđÜĉîÿé×ĂÜÖúčöŠ ïøĉþìĆ ÝćÖÖĉÝÖøøöéšćîêŠćÜė óïüŠćÖúčöŠ ïøĉþìĆ öĊÖøąĒÿđÜĉîÿéđóĉöę ×ċîĚ ÿčìíĉ 12.47 úšćîïćì àċęÜĔîðŘ 2555 ïøĉþĆìöĊîē÷ïć÷ĔîÖćøïøĉĀćøĒúąÙüïÙčöÙŠćĔßšÝŠć÷ĒúąÝĆéìĞćöćêøÖćøÖćøïøĉĀćøúĎÖĀîĊĚĂ÷ŠćÜêŠĂđîČęĂÜ đóČęĂĔĀšĕéšÖøąĒÿđÜĉîÿé đ×šćĔßšĔîÖĉÝÖćøĔîÝĞćîüîìĊęöćÖóĂ đóČęĂøĂÜøĆïÖćø×÷ć÷êĆüĔîĂîćÙê×ĂÜïøĉþĆì ĔîðŘ 2555 ïøĉþĆìöĊÖøąĒÿđÜĉîÿéÝćÖÖćøúÜìčîĔîÿŠüî×ĂÜ đÙøČęĂÜĔßšĂčðÖøèŤÿĞćîĆÖÜćîđðŨîÖćøàČĚĂĂčðÖøèŤĒúąÙĂöóĉüđêĂøŤēðøĒÖøö ÝĞćîüî 8.46 úšćîïćìĔîÖćøøĂÜøĆïÿëćîÖćøèŤìĊęĂćÝđÖĉé×ċĚîìĞćĔĀš óîĆÖÜćîÿćöćøëìĞćÜćîìĊęïšćîĕéš ēé÷óîĆÖÜćîÿćöćøëîĞć /ote #ook ĕðìĞćÜćîìĊęïšćî îĂÖÝćÖîĊĚÖøąĒÿđÜĉîÿéÝćÖÖĉÝÖøøöúÜìčî ïøĉþĆì ĕéšîĞćđÜĉîÿéìĊđę ĀúČĂđóČĂę îĞćòćÖíîćÙćøðøąđõìðøąÝĞć ĔîÖćøđóĉöę øć÷ĕéšĔĀšÖïĆ ïøĉþìĆ ēé÷ĕöŠöÙĊ üćöđÿĊ÷ę Ü ÝĞćîüî 32 úšćîïćì ĔîðŘ 2555 ïøĉþìĆ öĊđÜĉîÿéĒúąøć÷ÖćøđìĊ÷ïđìŠćđÜĉîÿéìĆĚÜÿĉĚî 232.50 úšćîïćì สภาพคล่อง

ĔîðŘ 25555 ÖúčŠöïøĉþĆìöĊĂĆêøćÿŠüîÿõćóÙúŠĂÜ ĒúąÿõćóÙúŠĂÜĀöčîđøĘüìĊę 3.71 đìŠć Ēúą 3.65 đìŠć êćöúĞćéĆï đóĉęö×ċĚîÝćÖ ìĊę 2.38 đìŠć Ēúą 2.35 đìŠćĔîðŘ 2554 ìĆĚÜîĊĚđîČęĂÜÝćÖÿĉîìøĆó÷ŤĀöčîđüĊ÷îìĊęđóĉęö×ċĚîÝćÖđÜĉîÿéĒúąøć÷ÖćøđìĊ÷ïđìŠćđÜĉîÿé ĒúąđÜĉîúÜìčîßĆęüÙøćü ÝćÖÖćøđøĊ÷ÖđÖĘïđÜĉîÝćÖúĎÖÙšćìĊęöĊýĆÖ÷õćóđóĉęö×ċĚî ĒúąúĎÖĀîĊĚÖćøÙšćđóĉęö×ċĚîĔîÿŠüîìĊęöĊøć÷ĕéšÝćÖÖćøïøĉÖćøĒúąÖćø×ć÷đóĉęö×ċĚî Ĕî×èąìĊę ĀîĊĚÿĉîĀöčîđüĊ÷îöĊÿĆéÿŠüîúéúÜ ÝćÖÖćøìĊęöĊÖćøßĞćøąđÝšćĀîĊĚÖćøÙšćÝćÖēÙøÜÖćøðøĆïðøčÜĒúąóĆçîćÿČęĂ $ity Vision #TS ïćÜÿŠüîìĊęëċÜÖĞćĀîé ßĞćøąđÜĉîĔîðŘ 2555 îĂÖÝćÖîĊÙĚ ćŠ õćþĊđÜĉîĕéšîêĉ ïĉ Ùč ÙúÙšćÜÝŠć÷úéúÜÝćÖìĊĕę éšøïĆ ÿĉìíĉĂêĆ øćõćþĊúéúÜÝćÖøšĂ÷úą 30 đĀúČĂđóĊ÷ÜøšĂ÷úą 23 ïøĉþìĆ ĕéšöĊÖćøïøĉĀćøđÜĉîÿéĔîöČĂđóČęĂĔĀšđÖĉéñúêĂïĒìîõć÷ĔêšÙüćöđÿĊę÷ÜìĊęêĞęć ÖćøïøĉĀćøêšîìčî×ĂÜïøĉÖćø ìĞćĔĀšïøĉþĆìöĊđÜĉîÿéĔîöČĂĒúąøć÷Öćø đìĊ÷ïđìŠćđÜĉîÿé øüöëċÜđÜĉîúÜìčîøą÷ą÷ÿĆĚî đóČęĂĀöčîđüĊ÷îĔîÖĉÝÖćøĔîÝĞćîüîìĊęöćÖ àċęÜÙĉéđðŨîĂĆêøćøšĂ÷úą 40.44 ×ĂÜÿĉîìøĆó÷Ťøüö

79 ĀîŠü÷ ïćì

งบการเงินรวม 2555

งบการเงินเฉพาะของบริษัท 2554

2555

2554

ðøĆïðøčÜĔĀöŠ

đÜĉîÿéĒúąøć÷ÖćøđìĊ÷ïđìŠć đÜĉîÿé đÜĉîúÜìčîßĆęüÙøćü øüöÿĉîìøĆó÷ŤĀöčîđüĊ÷î øüöĀîĊĚÿĉîĀöčîđüĊ÷î øüöÿĉîìøĆó÷Ť

232,502,451 31.71 220,033,621 4 .4 177,824,733 40.43 155, 86,656 4 .63 6 ,130, 63 .27 38,437, 2 6 ,130, 63 15.72 36,320,60 11.55 506,766,744 444,608,527 43 ,87 ,430 314,330,188 136,580,880 185,0 2,751 8 ,075,337 123,060, 70 745,870,428 720,684,555 61 ,665,553 523,464,075

รายจ่ายลงทุน

ĔîðŘ 2555 ÖúčöŠ ïøĉþìĆ öĊøć÷ÝŠć÷úÜìčîÿŠüîĔĀâŠ×ĂÜïøĉþìĆ ĔßšĕðĔîÖćøúÜìčîĂčðÖøèŤĒúąÙĂöóĉüđêĂøŤēðøĒÖøö đóČĂę øĂÜøĆïÖćøìĞćÜćî ĔîÿëćîÖćøèŤĕöŠðÖêĉ×ĂÜïšćîđöČĂÜ øĂÜøĆïÖćø×÷ć÷ÜćîĔîĂîćÙê đóČĂę ĔĀšóîĆÖÜćîÿćöćøëìĞćÜćîìĊïę ćš îĕéš ĔîðŘîđĊĚ ĂÜĕöŠöÖĊ ćøúÜìčîĔîúĆÖþèą ìĊęđðŨîēÙøÜÖćøÿĞćĀøĆïøĂÜøĆïÖćøđêĉïēê×ĂÜøć÷ĕéš đîČęĂÜÝćÖÖćø×÷ć÷ēÙøÜÖćøöĊ×Ăš ÝĞćÖĆéĔîđøČęĂÜ×ĂÜÙĎŠĒ×ŠÜ ĒúąøćÙćĔîÖćøĕéšöćàċęÜÿĆöðìćî แหล่งที่มาของเงินทุน

ēÙøÜÿøšćÜ×ĂÜđÜĉîìčîúÜìčîĒúąđÜĉîìčîĀöčîđüĊ÷î×ĂÜÖúčŠöïøĉþĆìĔîðŘ 2555 öćÝćÖÖĞćĕøÝćÖÖćøéĞćđîĉîÜćî đðŨîĀúĆÖ ÿĆéÿŠüî×ĂÜĀîĊĚ êŠĂÿŠüî×ĂÜñĎšëČĂĀčšîöĊÿĆéÿŠüî øąĀüŠćÜðŘ 2555 ĒúąðŘ 2554 öĊĂĆêøćìĊęđóĉęö×ċĚîøąĀüŠÜðŘ 2555 ĒúąðŘ 2554 ēé÷ÖúčŠöïøĉþĆìöĊĂĆêøćÿŠüîĀîĊĚÿĉî êŠĂÿŠüî×ĂÜñĎšëČĂĀčšîĂ÷ĎŠìĊę 0.25 đìŠć Ēúą 0.38 đìŠć êćöúĞćéĆï àċęÜĔîðŘ 2555 ÿŠüî×ĂÜñĎšëČĂĀčšîúéúÜđîČęĂÜÝćÖÖćøÝŠć÷đÜĉîðŦîñúðŘ 2554 ĒúąÖćø ÝŠć÷đÜĉîðŦîñúøąĀüŠćÜÖćúðŘ 2555 éĆÜöĊøć÷úąđĂĊ÷ééĆÜîĊĚ การประชุมสามัญ ผู้ถือหุ้น / คณะกรรมการ

ประชุมวันที่

เงินปันผล ประจําปี

ÙøĆĚÜìĊę 1 2555 ñĎšëČĂĀčšî

27 đö.÷. 55

2554

ÙøĆĚÜìĊę 3 2555 ÙèąÖøøöÖćø

ÙøĆĚÜìĊę 1 2554 ñĎšëČĂĀčšî

ÙøĆĚÜìĊę 5 2554 ÙèąÖøøöÖćø

8 ÿ.Ù. 55 22 đö.÷. 54 8 ó.÷. 54

ประเภท การจ่าย

đÜĉîðŦîñú ĀčšîðŦîñú øüö øąĀüŠćÜÖćú đÜĉîðŦîñú 2555 2553 đÜĉîðŦîñú øąĀüŠćÜÖćú đÜĉîðŦîñú 2554

อัตราหุ้นละ (บาท)

จํานวนเงิน (บาท)

จํานวนหุ้น (หุ้น)

วันที่จ่าย เงินปันผล

0.27 0.40 0.67 0.20

33,74 ,730 124, ,000 4 , ,563 124, ,000 83,74 ,2 3 34, ,712 174, 8,563

22 ó.Ù. 55 22 ó.Ù. 55

0.25

31,24 ,750 124, ,000

10 ó.Ù. 54

0.25

31,24 ,750 124, ,000

6 í.Ù. 54

7 Ö.÷. 55

หนี้สิน

ĔîðŘ 2555 ÖúčŠöïøĉþĆìöĊĀîĊĚÿĉîĀöčîđüĊ÷î 136.58 úšćîïćì ĀîĊĚÿĉîĕöŠĀöčîđüĊ÷î 14.43 úšćîïćì øüöõćøąĀîĊĚÿĉîìĆĚÜÿĉĚî 151 úšćîïćì úéúÜÝćÖðŘ 2554 ÝĞćîüî 45.87 úšćîïćìÿćđĀêčÿĞćÙĆâöćÝćÖÖćøÝŠć÷ßĞćøąđÝšćĀîĊĚÖćøÙšćÝćÖÖćøéĞćđîĉîÜćî ÝĞćîüî 14.83 úšćîïćì ÝćÖ đÝšćĀîĊĚĂČęî ēÙøÜÖćøðøĆïðøčÜĒúąóĆçîćÿČęĂ $ity Vision #TS ÝĞćîüî 23.21 úšćîïćì ÙŠćõćþĊđÜĉîĕéšîĉêĉïčÙÙúÙšćÜÝŠć÷úéúÜ 11.26 úšćîïćì

80 ĀîŠü÷ ïćì

งบการเงินรวม 2555 2554

øüöĀîĊĚÿĉî øüöÿĉîìøĆó÷Ť ĀîĊĚÿĉîêŠĂÿĉîìøĆó÷Ťøüö

151,006,166 745,870,428 20.25

ðøĆïðøčÜĔĀöŠ

1 6,876,718 720,684,555 27.32

งบการเงินเฉพาะของบริษัท 2555 2554

100, 42,064 61 ,665,553 16.2

133,323,631 523,464,075 25.47

ÖćøúéúÜ×ĂÜøć÷ÖćøéĆÜÖúŠćü ìĞćĔĀšĂĆêøćÿŠüîĀîĊĚÿĉîêŠĂÿĉîìøĆó÷Ťøüö×ĂÜÖúčŠöïøĉþĆìðøĆïêĆüúéúÜÝćÖøšĂ÷úą 27.32 ×ĂÜÿĉîìøĆó÷Ť ĔîðŘ 2554 úéúÜđðŨîøšĂ÷úą 20.25 ĔîðŘ 2555 àċęÜĂĆêøćÖćøÖŠĂĀîĊĚđðŨîĂĆêøćìĊęêĞę ć ĒúąïøĉþĆì÷ĆÜöĂÜüŠćĂĆêøćÙüćöđÿĊę÷ÜìćÜÖćøđÜĉî÷ĆÜĂ÷ĎŠĔî đÖèæŤêĞęćđßŠîÖĆîĀćÖöĊÖćøúÜìčîđóĉęöĔîðŘ 2555 ĒúąïøĉþĆìöĊđÜĉîìčîĕöŠđóĊ÷ÜóĂêŠĂÖćøúÜìčî ïøĉþĆì÷ĆÜöĂÜüŠćïøĉþĆìöĊýĆÖ÷õćóĔîÖćøÖŠĂĀîĊĚøüö ëċÜÙüćöÿćöćøëĔîÖćøßĞćøąĀîĊĚĕéšĔîĂĆêøćìĊęÿĎÜêŠĂÿëćïĆîÖćøđÜĉî ส่วนของผู้ถือหุ้น

ĔîðŘ 2555 ÖúčŠöïøĉþĆìöĊÿŠüî×ĂÜñĎšëČĂĀčšî 5 4.86 úšćîïćì đóĉęö×ċĚîÝćÖ ðŘ 2554 ÝĞćîüî 71.06 úšćîïćì ĀøČĂÙĉéđðŨîøšĂ÷úą 13.57 ÿćđĀêčĀúĆÖöćÝćÖÖćøđóĉęöìčî ÝćÖÖćøÝŠć÷ðŦîñúđðŨîĀčšîÿćöĆâĔĀšÖĆïñĎšëČĂĀčšî ĔîÖćøðøąßčöÿćöĆâñĎšëČĂĀčšîÙøĆĚÜìĊę 1 2555 ĔîüĆîìĊę 24 đöþć÷î 2555 ìĞćĔĀšìčîđøČĂîĀčšîđóĉęö×ċĚîÝćÖ 125 úšćîïćì đðŨî 175 úšćîïćì ïøĉþĆìöĊÖĞćĕøÿąÿöìĊęđóĉęö×ċĚîÝćÖñúðøąÖĂïÖćøĒúąÿŠüîìĊęúéúÜÝćÖÖćø ÝŠć÷đÜĉîðŦîñú ìĞćĔĀšöĊñúÖĞćĕøÿąÿöđóĉęö×ċĚî 15.76 ĀøČĂÙĉéđðŨîøšĂ÷úą 8.10 ÿĉĚîðŘ 2555 ïøĉþĆìöĊÖĞćĕøÿąÿöĀúĆÜĀĆÖÿĞćøĂÜêćöÖãĀöć÷Ēúšü ðøąöćè 210.3 úšćîïćì ÿćöćøëéĎøć÷úąđĂĊ÷éđóĉęöđêĉöĕéšìĊę ÜïĒÿéÜÖćøđðúĊę÷îĒðúÜĔîÿŠüî×ĂÜñĎšëČĂĀčšî ĔîÜïÖćøđÜĉîĀîšć 5 ĒúąĀîšć 6

ค่าตอบแทนผู้สอบบัญชี ÙŠćêĂïĒìîìĊęïøĉþĆìĒúąïøĉþĆì÷ŠĂ÷ÝŠć÷ĔĀšñĎšÿĂïïĆâßĊ "udit Fee ĔîøĂïðŘïĆâßĊÿĉĚîÿčé è 31 íĆîüćÙö รายการที่

1 2 3 4 5 6. 7.

ชื่อบริษัทผู้จ่าย

ïöÝ. öćÿđêĂøŤ ĒĂé ïÝÖ. öćÿđêĂøŤĒĂîéŤ öĂøŤ ïÝÖ. ĂĉÜÙŤđÝĘìĂĉöđöÿđÝÿ ðøąđìýĕì÷

ïÝÖ. öćēÖš ĕøìŤ àć÷îŤ ïÝÖ. ĒúîéĊĚ éĊđüúúĂðđöîìŤ ïÝÖ. ÖøĊîĒĂé ïÝÖ. ĒöĘÖàŤ ÙøĊđĂìĊô øüöÙŠćêĂïĒìîÝćÖÖćøÿĂïïĆâßĊ ÙŠćïøĉÖćøĂČęî /on "udit Fee

ĕöŠöĊ

2555

ค่าสอบบัญชี 2554

2553

850,000 465,000 220,000 5,000 1 0,000 60,000 51,000 1,931,000

840,000 455,000 220,000 5,000 1 0,000 160,000 40,000 2,000,000

840,000 455,000 220,000 130,000 215,000 10,000 1,870,000

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รายงานความรับผิดชอบของคณะกรรมการ ต่อรายงานทางการเงิน đøĊ÷î

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รายงานของผู้สอบบัญชีรับอนุญาต đÿîĂ

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85 ×šĂöĎúĒúąđĀêčÖćøèŤìĊęđîšî ïøĉþĆìĕéšÝĆéðøąđõìøć÷ÖćøïĆâßĊÙŠćÙüćöîĉ÷öĒúąÿŠüîúéÝćÖÖćøđóĉęöÿĆéÿŠüîÖćøëČĂĀčšîĔîïøĉþĆì÷ŠĂ÷ĔĀöŠđóČęĂĔĀšÜïÖćøđÜĉîøüöÿąìšĂîõćó åćîąÖćøđÜĉîđĀöćąÿö÷ĉęÜ×ċĚî êćöìĊęÖúŠćüĕüšĔîĀöć÷đĀêčðøąÖĂïÜïÖćøđÜĉî×šĂ 35 ñú×ĂÜÖćøÝĆéðøąđõìøć÷ÖćøĔĀöŠîĊĚìĞćĔĀšÜïĒÿéÜåćîą ÖćøđÜĉîøüö è üĆîìĊę 31 íĆîüćÙö 2554 Ēúą 2553 àċęÜîĞćöćĒÿéÜđðøĊ÷ïđìĊ÷ï öĊÿĉîìøĆó÷ŤĒúąÿŠüî×ĂÜñĎšëČĂĀčšîđóĉęö×ċĚîÝĞćîüî 13.04 úšćî ïćì ēé÷ĕöŠöĊñúÖøąìïêŠĂÖĞćĕøÿčìíĉĒúąÖĞćĕøêŠĂĀčšîÿĞćĀøĆïðŘ 2554 Ēúą 2553 ×šćóđÝšćĕéšêøüÝÿĂïøć÷ÖćøÝĆéðøąđõìĔĀöŠéĆÜÖúŠćüĒúąđĀĘî üŠćøć÷ÖćøÝĆéðøąđõìéĆÜÖúŠćüđĀöćąÿöĒúšü ÜïÖćøđÜĉîđðøĊ÷ïđìĊ÷ï ÜïÖćøđÜĉîøüö×ĂÜïøĉþìĆ öćÿđêĂøŤ ĒĂé ÝĞćÖĆé öĀćßî ĒúąïøĉþìĆ ÷ŠĂ÷ ĒúąÜïÖćøđÜĉîđÞóćą×ĂÜïøĉþìĆ ïøĉþìĆ öćÿđêĂøŤ ĒĂé ÝĞćÖĆé öĀćßî

ÿĞćĀøĆïðŘÿîĉĚ ÿčéüĆîìĊę 31 íĆîüćÙö 2554 Ēúą 2553 êøüÝÿĂïēé÷îć÷ÿöÙĉé đêĊ÷êøąÖĎú ñĎÿš ĂïïĆâßĊĔîÿĞćîĆÖÜćîđéĊ÷üÖĆîÖĆï×šćóđÝšć àċÜę ĕéšđÿîĂ øć÷ÜćîÖćøêøüÝÿĂïúÜüĆîìĊę 22 ÖčöõćóĆîíŤ 2555 ĒÿéÜÙüćöđĀĘîĂ÷ŠćÜĕöŠöĊđÜČęĂîĕ× ēé÷đîšîĔĀšÿĆÜđÖêĔîđøČęĂÜ ÖćøðäĉïĆêĉêćööćêøåćîÖćø ïĆâßĊĒúąöćêøåćîÖćøøć÷ÜćîìćÜÖćøđÜĉîìĊęĂĂÖĒúąðøĆïðøčÜĔĀöŠ ÜïĒÿéÜåćîąÖćøđÜĉîøüö àċęÜðøĆïðøčÜĔĀöŠêćöìĊęĕéšĂíĉïć÷ĕüšĔîĀöć÷đĀêč ðøąÖĂïÜïÖćøđÜĉî×šĂ 35 ĒúąÜïĒÿéÜåćîąÖćøđÜĉîđÞóćą×ĂÜïøĉþĆì è üĆîìĊę 31 íĆîüćÙö 2554 Ēúą 2553 ìĊęĒÿéÜđðøĊ÷ïđìĊ÷ï đðŨîÿŠüî ĀîċęÜ×ĂÜÜïÖćøđÜĉîéĆÜÖúŠćü

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86 บริษัท มาสเตอร์ แอด จํากัด (มหาชน) บริษัทย่อย และกิจการร่วมค้า

งบแสดงฐานะการเงิน ณ วันที่ 31 ธันวาคม 2555 และ 2554 ĀîŠü÷ ïćì

งบการเงินรวม หมายเหตุ

2555

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2554

(ปรับปรุงใหม่) (ปรับปรุงใหม่)

ÿĉîìøĆó÷Ť ÿĉîìøĆó÷ŤĀöčîđüĊ÷î

[5] đÜĉîÿéĒúąøć÷ÖćøđìĊ÷ïđìŠćđÜĉîÿé [6] đÜĉîúÜìčîßĆęüÙøćü úĎÖĀîĊĚÖćøÙšć [7] úĎÖÙšćìĆęüĕð ÿčìíĉ [7,8] ïøĉþĆììĊęđÖĊę÷ü×šĂÜ [8] úĎÖĀîĊĚĂČęî ïøĉþĆììĊęđÖĊę÷ü×šĂÜ úĎÖĀîĊĚÙŠćĀčšî×ĂÜïøĉþĆì÷ŠĂ÷ ïøĉþĆììĊęđÖĊę÷ü×šĂÜ [ ] ÿĉîÙšćÙÜđĀúČĂ ÙŠćĔßšÝŠć÷ÝŠć÷úŠüÜĀîšć [8] ÙŠćĔßšÝŠć÷ÝŠć÷úŠüÜĀîšć ïøĉþĆììĊęđÖĊę÷ü×šĂÜ [8] đÜĉîĔĀšÖĎš÷ČöĒÖŠïøĉþĆììĊęđÖĊę÷ü×šĂÜ [8] đÜĉîðŦîñúÙšćÜøĆï [10] ÿĉîìøĆó÷ŤĀöčîđüĊ÷îĂČęî ÿčìíĉ

øüöÿĉîìøĆó÷ŤĀöčîđüĊ÷î

232,502,451 220,033,621 218,101,777 177,824,733 155, 86,656 6 ,130, 63 38,437, 2 37,64 ,80 6 ,130, 63 36,320,60 155,47 ,874 133,865,221 127,416,183 101,606,863 86,4 4,070 7,536 486,255 516,207 855,454 6,712 3,743 201, 3,103,413 1,54 ,025 2,450,010 8,372,027 7,18 , 03 3,5 2,216 5,863, 55 4,631,812 5,470,380 5,683,083 7,113,423 4,424, 7 4,313,003 846,552 4 5,000 4 5,000 4 5,000 4 5,000 4 5,000 53, , 46 34,275,24 38,323,70 18,252,146 22, 13,371 23,684,55 506,766,744 444,608,527 415,272,563 43 ,87 ,430 314,330,188

ÿĉîìøĆó÷ŤĕöŠĀöčîđüĊ÷î

đÜĉîúÜìčî ïøĉþĆì÷ŠĂ÷ ïøĉþĆìøŠüö ÿčìíĉ đÜĉîòćÖíîćÙćøìĊęöĊ×šĂÝĞćÖĆéĔîÖćøĔßš ĂćÙćøĒúąĂčðÖøèŤ ÿčìíĉ ÙĂöóĉüđêĂøŤēðøĒÖøö ÿčìíĉ ĂčðÖøèŤÙÜđĀúČĂøĂÖćøĔßšÜćî ĂÿĆÜĀćøĉöìøĆó÷ŤđóČęĂÖćøúÜìčî ĂčðÖøèŤĕêøüĉßĆęîÙÜđĀúČĂøĂÖćøĔßšÜćî ÿčìíĉ ÙŠćÿĉìíĉĔîÖćøĔßšóîČĚ ìĊēę ÛþèćÝŠć÷úŠüÜĀîšć ÿčìíĉ ÙŠćÙüćöîĉ÷ö ÿĉîìøĆó÷ŤĕöŠĀöčîđüĊ÷îĂČęî ÿčìíĉ

øüöÿĉîìøĆó÷ŤĕöŠĀöčîđüĊ÷î

[11] [11] [12] [13] [14] [15] [16] [17] [18] [35] [1 ]

øüöÿĉîìøĆó÷Ť

Āöć÷đĀêčðøąÖĂïÜïÖćøđÜĉîđðŨîÿŠüîĀîċęÜ×ĂÜÜïÖćøđÜĉîîĊĚ

34,626,145 6,452,05 75,588,168 2,228,707 12,536,053 35,316,836 17,6 7,045 20,482,6 7 13,040,727 21,135,247 23 ,103,684

32,535,3 1 5,651,377 87,22 , 81 3,841,411 25,61 ,02 35,316,836 20,413,761 18,731,65 13,040,727 33,6 5,856 276,076,028

2 ,222,754 5,651,377 26,150,531 2,768,202 26,38 , 35 35,316,836 20,413,761 1 ,114,6 3 13,040,727 40,374,830 218,443,646

81,0 8,668 21,47 ,475 2,452,05 7,8 ,110 2,182,383 13,211,556 35,316,836 16,146,036 17 ,786,123

81,0 8,668 21,47 ,475 2,441,377 20,421,813 3,768,506 26,21 , 61 35,316,836 18,387,251 20 ,133,887

745,870,428 720,684,555 633,716,209 619,665,553 523,464,075

87 บริษัท มาสเตอร์ แอด จํากัด (มหาชน) บริษัทย่อย และกิจการร่วมค้า

งบแสดงฐานะการเงิน ณ วันที่ 31 ธันวาคม 2555 และ 2554

ĀîŠü÷ ïćì

งบการเงินรวม

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2555

2554

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ĀîĊĚÿĉîĒúąÿŠüî×ĂÜñĎšëČĂĀčšî ĀîĊĚÿĉîĀöčîđüĊ÷î đÝšćĀîĊĚÖćøÙšć ñĎšÙšćìĆęüĕð ïøĉþĆììĊęđÖĊę÷ü×šĂÜ øć÷ĕéšøĆïúŠüÜĀîšć úĎÖÙšćìĆęüĕð ïøĉþĆììĊęđÖĊę÷ü×šĂÜ đÝšćĀîĊĚĂČęî ïøĉþĆììĊęđÖĊę÷ü×šĂÜ đÝšćĀîĊĚÙŠćàČĚĂìøĆó÷Ťÿĉî đÜĉîÖĎš÷Čöøą÷ąÿĆĚîÝćÖïøĉþĆììĊęđÖĊę÷ü×šĂÜ đÝšćĀîĊĚêćöÿĆââćđßŠćàČĚĂìĊęëċÜÖĞćĀîéßĞćøą Ĕî 1 ðŘ õćþĊđÜĉîĕéšÙšćÜÝŠć÷ ÙŠćĔßšÝŠć÷ÙšćÜÝŠć÷ õćþĊ×ć÷ìĊę÷ĆÜĕöŠëċÜÖĞćĀîéßĞćøą đÜĉîðŦîñúÙšćÜÝŠć÷ ĀîĊĚÿĉîĀöčîđüĊ÷îĂČęî øüöĀîĊĚÿĉîĀöčîđüĊ÷î ĀîĊĚÿĉîĕöŠĀöčîđüĊ÷î đÝšćĀîĊĚêćöÿĆââćđßŠćàČĚĂ ÿčìíĉ ÿĞćøĂÜĀîĊĚÿĉîñúðøąē÷ßîŤóîĆÖÜćî ĀîĊĚÿĉîĕöŠĀöčîđüĊ÷îĂČęî øüöĀîĊĚÿĉîĕöŠĀöčîđüĊ÷î

[34] [8] [8] [8] [8] [21]

[21] [8, 22]

øüöĀîĊĚÿĉî

Āöć÷đĀêčðøąÖĂïÜïÖćøđÜĉîđðŨîÿŠüîĀîċęÜ×ĂÜÜïÖćøđÜĉîîĊĚ

53,87 ,1 0 68,70 ,60 55,23 , 13 35,637,251 4 ,500,88 5,27 ,678 8,065,855 4,254,755 7,223,156 ,11 ,362 5, 01, 23 10, 1 ,137 283,403 26 ,81 2,813,237 26,020, 15 2,000,000 135,672 13,505,7 1 35,320, 35 12, 22,772 66,44 4,471,830 136,580,880

4,5 8,205 313,753

5,815,428 10,544,208 287, 33 575,867 323,357 2 3,423 4,206,300

24,763,670 28,085,58 10,841,461 74,45 7,342,237 185,0 2,751

14,213,027 8,123,030 17, 35,6 3 14,048,1 5 20,440,831 17,835,070 ,722,585 8,105,634 6,442,75 31,2 4,853 66,44 74,45 3,070,673 3,052,268 6,532, 40 136,755, 5 8 ,075,337 123,060, 70

266,4 8 10,670,351 ,721,630 3,488,437 2,062,337 14,425,286 11,783, 67

,322,620 8,372,816 550,777 2,544,107 1,88 ,845 550,777 11,866,727 10,262,661

151,006,166 196,876,718 137,306,736 100,942,064 133,323,631

88 บริษัท มาสเตอร์ แอด จํากัด (มหาชน) บริษัทย่อย และกิจการร่วมค้า

งบแสดงฐานะการเงิน ณ วันที่ 31 ธันวาคม 2555 และ 2554

ĀîŠü÷ ïćì

งบการเงินรวม

หมายเหตุ

2555

2554

งบการเงินเฉพาะ ของบริษัท 2553

2555

2554

(ปรับปรุงใหม่) (ปรับปรุงใหม่)

ĀîĊĚÿĉîĒúąÿŠüî×ĂÜñĎšëČĂĀčšî êŠĂ

ÿŠüî×ĂÜñĎšëČĂĀčšî ìčîđøČĂîĀčšî ĀčšîÿćöĆâ öĎúÙŠćĀčšîúą 1 ïćì ìčîÝéìąđïĊ÷î 175,000,000 Āčšî ðŘ 2554 125,000,000 Āčšî

[23] ìčîđøČĂîĀčšîìĊęĂĂÖĒúąøĆïßĞćøąĒúšü 174, ,563 Āčšî ðŘ 2554 125,000,000 Āčšî

ÿŠüîđÖĉîöĎúÙŠćĀčšîÿćöĆâ ÖĞćĕøÿąÿö ÝĆéÿøøđóČęĂÿĞćøĂÜêćöÖãĀöć÷ [25] ÷ĆÜĕöŠĕéšÝĆéÿøø [22, 24] ĂÜÙŤðøąÖĂïĂČęî×ĂÜÿŠüî×ĂÜñĎšëČĂĀčšî [35] ÿŠüî×ĂÜñĎšëČĂĀčšî×ĂÜïøĉþĆì ÿŠüîĕéšđÿĊ÷ìĊęĕöŠĂ÷ĎŠĔîĂĞćîćÝÙüïÙčö øüöÿŠüî×ĂÜñĎšëČĂĀčšî

17,500,000 210,38 ,740 23,844,158 5 3,818,2 4 1,045, 68 5 4,864,262

øüöĀîĊĚÿĉîĒúąÿŠüî×ĂÜñĎšëČĂĀčšî

745,870,428 720,684,555 633,716,20 61 ,665,553 523,464,075

Āöć÷đĀêčðøąÖĂïÜïÖćøđÜĉîđðŨîÿŠüîĀîċęÜ×ĂÜÜïÖćøđÜĉîîĊĚ

175,000,000 125,000,000 125,000,000 175,000,000 125,000,000 174, ,563 125,000,000 125,000,000 174, ,563 125,000,000 167,084,833 167,084,833 167,084,833 167,084,833 167,084,833 12,500,000 1 4,625,164 23,107,008 522,317,005 1,4 0,832 523,807,837

12,500,000 167,444,165 22,318,610 4 4,347,608 2,061,865 4 6,40 ,473

17,500,000 157,053,273 2,085,820 518,723,48 518,723,48

12,500,000 84,280,145 1,275,466 3 0,140,444 3 0,140,444

89 บริษัท มาสเตอร์ แอด จํากัด (มหาชน) บริษัทย่อย และกิจการร่วมค้า

งบกําไรขาดทุนเบ็ดเสร็จ สําหรับปีสิ้นสุดวันที่ 31 ธันวาคม 2555 และ 2554 ĀîŠü÷ ïćì

งบการเงินรวม หมายเหตุ

øć÷ĕéšÝćÖÖćøĔĀšïøĉÖćøĒúąÝćÖÖćø×ć÷ êšîìčîÖćøĔĀšïøĉÖćøĒúą×ć÷ ÖĞćĕø×ĆĚîêšî øć÷ĕéšÙŠćîć÷Āîšć éĂÖđïĊĚ÷øĆï øć÷ĕéšđÜĉîðŦîñú øć÷ĕéšĂČęî ÙŠćĔßšÝŠć÷ĔîÖćø×ć÷ ÙŠćĔßšÝŠć÷ĔîÖćøïøĉĀćø ×ćéìčîÝćÖÖćøéšĂ÷ÙŠć×ĂÜđÜĉîúÜìčîĔîïøĉþĆìøŠüö êšîìčîìćÜÖćøđÜĉî ÿŠüîĕéšđÿĊ÷ĔîÖĞćĕøÿčìíĉ×ĂÜïøĉþĆìøŠüö ÿčìíĉ ÖĞćĕøÖŠĂîõćþĊđÜĉîĕéš õćþĊđÜĉîĕéš ÖĞćĕøÿčìíĉÿĞćĀøĆïðŘ

[8, 26] [8, 28] [8] [8] [8, 27] [8, 28] [8, 28] [11, 28] [8] [11] [2 ]

2555

2554

งบการเงินเฉพาะ ของบริษัท 2555

2554

732,3 0,667 635,533,6 2 503,027,447 460,508,681 37 ,515,5 7 306,502, 60 267,508,3 5 241,608,827

352,875,070 32 ,030,732 235,51 ,052 218,8 ,854 8,782, 42 8,363, 47 3,705,014 2,341,370 3,053,060 1,670,225 105,3 ,88 2 , 13,611,127 6,530,231 15,160,336 10,324,466 63,675, 4 74,174,388 48,021,075 45,780,655

128,5 4,055 120,8 1,0 2 5,535,223 83,515,74

121,701

625,28

385,784

314,656

341,85

3,4 0,644 1,112,421 180,786,562 143,563,4 0 224,044,325 10 ,7 8,527 41,717,758 46,145,5 2 27,522,155 31,250,684

13 ,068,804 7,417,8 8 1 6,522,170 78,547,843

ÖĞćĕø×ćéìčîđïĘéđÿøĘÝĂČęî ÖĞćĕøìĊę÷ĆÜĕöŠđÖĉé×ċĚîÝøĉÜÝćÖÖćøüĆéöĎúÙŠć đÜĉîúÜìčîđñČęĂ×ć÷ [6] ÖĞćĕøìĊęđÖĉé×ċĚîÝøĉÜÝćÖÖćø×ć÷đÜĉîúÜìčîđñČęĂ×ć÷ [6] ÖĞćĕø×ćéìčîđïĘéđÿøĘÝĂČęîÿĞćĀøĆïðŘ øüöÖĞćĕø×ćéìčîđïĘéđÿøĘÝÿĞćĀøĆïðŘ

810,457 73,307

737,150 13 ,805, 54

788,3 8 788,3 8 8,206,2 6

810,354 810,354 1 7,332,524

744,765 744,765 7 ,2 2,608

ÖćøĒïŠÜðŦîÖĞćĕø ×ćéìčî ÿčìíĉ ÿŠüîìĊęđðŨî×ĂÜïøĉþĆì ÿŠüîĕéšđÿĊ÷ìĊęĕöŠĂ÷ĎŠĔîĂĞćîćÝÙüïÙčö ÖĞćĕøÿčìíĉÿĞćĀøĆïðŘ

13 ,513,618 444,814

13 ,068,804

7, 88, 31 571,033

7,417,8 8

1 6,522,170 1 6,522,170

78,547,843 78,547,843

ÖćøĒïŠÜðŦîÖĞćĕø ×ćéìčî đïĘéđÿøĘÝ ÿŠüîìĊęđðŨî×ĂÜïøĉþĆì ÿŠüîĕéšđÿĊ÷ìĊęĕöŠĂ÷ĎŠĔîĂĞćîćÝÙüïÙčö øüöÖĞćĕø×ćéìčîđïĘéđÿøĘÝÿĞćĀøĆïðŘ

140,250,768 444,814

13 ,805, 54

8,777,32 571,033

8,206,2 6

1 7,332,524 1 7,332,524

7 ,2 2,608 7 ,2 2,608

ÖĞćĕøêŠĂĀčšî×ĆĚîóČĚîåćî ÖĞćĕøÿŠüîìĊęđðŨî×ĂÜïøĉþĆìêŠĂĀčšî ïćì

ÝĞćîüîĀčšîÿćöĆâëĆüđÞúĊę÷ëŠüÜîĞĚćĀîĆÖ Āčšî

0.80 174, ,563

0.56 174, ,563

1.12 174, ,563

0.45 174, ,563

[3.20]

Āöć÷đĀêčðøąÖĂïÜïÖćøđÜĉîđðŨîÿŠüîĀîċęÜ×ĂÜÜïÖćøđÜĉîîĊĚ

ÿŠüîđÖĉî öĎúÙŠćĀčšî

ÿĞćøĂÜêćö ÖãĀöć÷

÷ĆÜĕöŠĕéš ÝĆéÿøø

กําไรสะสม

[6] [6] [23] [25] [24] [24]

[6] [24]

[22]

8,308,432

125,000,000 167,084,833 12,500,000 15 ,135,733 21,757,648 530,701 744,765 62,4 ,500

7, 88, 31 125,000,000 167,084,833 12,500,000 1 4,625,164 21,757,648 1,275,466 810,354 4 , ,563 5,000,000 5,000,000

68,74 ,442

4 , ,600

13 ,513,618 174, ,563 167,084,833 17,500,000 210,38 ,740 21,757,648 2,085,820

530,701 2 ,88 43,418 73,307 73,307

2 ,88

372 215 587 103 6 0

372

ÿŠüîĕéšđÿĊ÷ ñĎšëČĂĀčšî ìĊęĕöŠĂ÷ĎŠĔî ×ĂÜïøĉþĆì ĂĞćîćÝÙüïÙčö

øüö

ĀîŠü÷ ïćì

22,318,610 788,3 8 23,107,008 810,457 73,307

23,844,158

8,308,432

486,03 ,176 2,061,865 488,101,041 788,3 8 788,3 8 62,4 ,500

62,4 ,500

7, 88, 31 571,033 7,417,8 8 522,317,005 1,4 0,832 523,807,837 810,457 810,457 73,307

73,307

4 , ,563 4 , ,563 68,74 ,442 50

68,74 ,4 2

4 , ,600

13 ,513,618 444,814 13 ,068,804 5 3,818,2 4 1,045, 68 5 4,864,262

,277,883 481,306,881 2,061,865 483,368,746 13,040,727 13,040,727 13,040,727

ĂČęî×ĂÜÿŠüî ÖćøëČĂĀčšîĔî ïøĉþĆì÷ŠĂ÷ ×ĂÜïøĉþĆì ×ĂÜïøĉþĆì÷ŠĂ÷ ×ĂÜïøĉþĆìøŠüö ×ĂÜñĎšëČĂĀčšî ðøĆïðøčÜĔĀöŠ

องค์ประกอบอื่นของส่วนของผู้ถือหุ้น ÿŠüîúéÝćÖ กําไรที่ยังไม่เกิดขึ้นจริง จากเงิน ÖćøđóĉęöÿĆéÿŠüî ลงทุนในหลักทรัพย์เผื่อขาย øüöĂÜÙŤðøąÖĂï øüöÿŠüî×ĂÜ

ส่วนของผู้ถือหุ้นของบริษัท

125,000,000 167,084,833 12,500,000 167,444,165 8,716, 21 [35] 13,040,727

Āöć÷đĀêčðøąÖĂïÜïÖćøđÜĉîđðŨîÿŠüîĀîċęÜ×ĂÜÜïÖćøđÜĉîîĊĚ

÷ĂéÙÜđĀúČĂ è üĆîìĊę 1 öÖøćÙö 2554 êćöøć÷ÜćîðŘÖŠĂî ÝĆéðøąđõìøć÷ÖćøÙŠćÙüćöîĉ÷öđðŨîÿĉîìøĆó÷Ť ñúÖøąìï×ĂÜÖćøđðúĊę÷îĒðúÜîē÷ïć÷ÖćøïĆâßĊ đÖĊę÷üÖĆïñúðøąē÷ßîŤĔîĂéĊê×ĂÜóîĆÖÜćî ÷ĂéÙÜđĀúČĂ è üĆîìĊę 1 öÖøćÙö 2554 ìĊęðøĆïðøčÜĒúšü ÖĞćĕøìĊę÷ĆÜĕöŠđÖĉé×ċĚîÝøĉÜÝćÖđÜĉîúÜìčîĔîĀúĆÖìøĆó÷ŤđñČęĂ×ć÷ đÜĉîðŦîñúÝŠć÷ ÖĞćĕø ×ćéìčî ÿčìíĉÿĞćĀøĆïðŘ ÷ĂéÙÜđĀúČĂ è üĆîìĊę 31 íĆîüćÙö 2554 ÖĞćĕøìĊę÷ĆÜĕöŠđÖĉé×ċĚîÝøĉÜÝćÖđÜĉîúÜìčîĔîĀúĆÖìøĆó÷ŤđñČęĂ×ć÷ øĆïøĎšÖĞćĕøìĊęđÖĉé×ċĚîÝøĉÜÝćÖÖćø×ć÷đÜĉîúÜìčîĔîĀúĆÖìøĆó÷ŤđñČęĂ×ć÷ đóĉęöìčîÝćÖÖćøÝŠć÷ĀčšîðŦîñú ÝĆéÿøøÿĞćøĂÜêćöÖãĀöć÷ đÜĉîðŦîñúÝŠć÷ ĀčšîðŦîñú ÖĞćĕø ×ćéìčî ÿčìíĉÿĞćĀøĆïðŘ ÷ĂéÙÜđĀúČĂ è üĆîìĊę 31 íĆîüćÙö 2555

ÜïÖćøđÜĉîøüö

ìčîđøČĂîĀčšîìĊę Āöć÷đĀêč øĆïßĞćøąĒúšü

สําหรับปีสิ้นสุดวันที่ 31 ธันวาคม 2555 และ 25534

งบแสดงการเปลี่ยนแปลงในส่วนของผู้ถือหุ้น

บริษัท มาสเตอร์ แอด จํากัด (มหาชน) บริษัทย่อย และกิจการร่วมค้า

Āöć÷đĀêčðøąÖĂïÜïÖćøđÜĉîđðŨîÿŠüîĀîċęÜ×ĂÜÜïÖćøđÜĉîîĊĚ

÷ĂéÙÜđĀúČĂ è üĆîìĊę 1 öÖøćÙö 2554 êćöøć÷ÜćîðŘÖŠĂî ñúÖøąìï×ĂÜÖćøđðúĊę÷îĒðúÜîē÷ïć÷ÖćøïĆâßĊ đÖĊę÷üÖĆïñúðøąē÷ßîŤĔîĂéĊê×ĂÜóîĆÖÜćî ÷ĂéÙÜđĀúČĂ è üĆîìĊę 1 öÖøćÙö 2554 ìĊęðøĆïðøčÜĒúšü ÖĞćĕøìĊę÷ĆÜĕöŠđÖĉé×ċĚîÝøĉÜÝćÖđÜĉîúÜìčîĔîĀúĆÖìøĆó÷ŤđñČęĂ×ć÷ đÜĉîðŦîñúÝŠć÷ ÖĞćĕøÿčìíĉÿĞćĀøĆïðŘ ÷ĂéÙÜđĀúČĂ è üĆîìĊę 31 íĆîüćÙö 2554 ÖĞćĕøìĊę÷ĆÜĕöŠđÖĉé×ċĚîÝøĉÜÝćÖđÜĉîúÜìčîĔîĀúĆÖìøĆó÷ŤđñČęĂ×ć÷ đóĉęöìčîÝćÖÖćøÝŠć÷ĀčšîðŦîñú ÝĆéÿøøÿĞćøĂÜêćöÖãĀöć÷ đÜĉîðŦîñúÝŠć÷ ĀčšîðŦîñú ÖĞćĕøÿčìíĉÿĞćĀøĆïðŘ ÷ĂéÙÜđĀúČĂ è üĆîìĊę 31 íĆîüćÙö 2555

ÜïÖćøđÜĉîđÞóćą×ĂÜïøĉþĆì

[6] [6] [25] [24] [24]

[6] [24]

[22]

หมายเหตุ

สําหรับปีสิ้นสุดวันที่ 31 ธันวาคม 2555 และ 2554

125,000,000 125,000,000 4 , ,563 174, ,563

125,000,000

ทุนเรือนหุ้น ที่รับชําระแล้ว

งบแสดงการเปลี่ยนแปลงในส่วนของผู้ถือหุ้น

บริษัท มาสเตอร์ แอด จํากัด (มหาชน) บริษัทย่อย และกิจการร่วมค้า

167,084,833 167,084,833 167,084,833

167,084,833

ส่วนเกินมูลค่าหุ้น

12,500,000 12,500,000 5,000,000 17,500,000

12,500,000

สํารองตาม กฎหมาย

7,18 ,866

68,231,802 62,4 ,500

78,547,843 84,280,145 5,000,000

68,74 ,442

4 , ,600

1 6,522,170 157,053,273

75,421,668

ยังไม่ได้จัดสรร

กําไรสะสม

530,701 744,765 1,275,466 810,354 2,085,820

530,701

กําไรที่ยังไม่เกิดขี้นจริง จากเงินลงทุนใน หลักทรัพย์เผื่อขาย

องค์ประกอบอื่นของ ส่วนของผู้ถือหุ้น

7,18 ,866

373,347,336 744,765 62,4 ,500

78,547,843 3 0,140,444 810,354 4 , ,563 68,74 ,442

4 , ,600

1 6,522,170 518,723,48

380,537,202

รวม

ĀîŠü÷ ïćì

92 บริษัท มาสเตอร์ แอด จํากัด (มหาชน) บริษัทย่อย และกิจการร่วมค้า

งบกระแสเงินสด สําหรับปีสิ้นสุดวันที่ 31 ธันวาคม 2555 และ 2554

ĀîŠü÷ ïćì

งบการเงินรวม

ÖøąĒÿđÜĉîÿéÝćÖÖĉÝÖøøöéĞćđîĉîÜćî ÖĞćĕøÖŠĂîõćþĊđÜĉîĕéš ðøĆïðøčÜÖĞćĕøÖŠĂîõćþĊđÜĉîĕéšđðŨîđÜĉîÿéøĆï ÝŠć÷ ÝćÖÖĉÝÖøøöéĞćđîĉîÜćî : ÙŠćđÿČęĂöøćÙćĒúąÙŠćêĆéÝĞćĀîŠć÷ ×ćéìčîÝćÖÖćøéšĂ÷ÙŠć×ĂÜĂčðÖøèŤĕêøüĉßĆęîÙÜđĀúČĂøĂÖćøĔßšÜćî ×ćéìčî ÖĞćĕø ÝćÖÖćøÝĞćĀîŠć÷ĂčðÖøèŤ ĂčðÖøèŤĒúąÙĂöóĉüđêĂøŤēðøĒÖøöêĆéÝĞćĀîŠć÷ ÿŠüîĕéšđÿĊ÷ĔîÖĞćĕøÿčìíĉ×ĂÜïøĉþĆìøŠüö ÖĞćĕøÝćÖÖćøÝĞćĀîŠć÷đÜĉîúÜìčîßĆęüÙøćü ÖúĆïøć÷ÖćøĀîĊĚÿĉîÙšćÜîćî øć÷ĕéšđÜĉîðŦîñú ÙŠćđñČęĂĀîĊĚÿÜÿĆ÷ÝąÿĎâĒúąĀîĊĚÿĎâ ÿčìíĉ ĀîĊĚÿĎâĕéšøĆïÙČî

ÙŠćÿĉìíĉĔîÖćøĔßšóČĚîìĊęēÛþèćêĆéÝŠć÷ ÙŠćìĊęðøċÖþćÝŠć÷úŠüÜĀîšćêĆéÝĞćĀîŠć÷ ÙŠćĔßšÝŠć÷ÝćÖēÙøÜÖćøðŜć÷ēÛþèćêĆéÝĞćĀîŠć÷ ×ćéìčîÝćÖÖćøéšĂ÷ÙŠć×ĂÜđÜĉîúÜìčîĔîïøĉþĆìøŠüö ÙŠćđñČęĂñúðøąē÷ßîŤóîĆÖÜćî éĂÖđïĊĚ÷ÝŠć÷ đÜĉîÿéĕéšöćÝćÖÖćøéĞćđîĉîÜćîÖŠĂîÖćøđðúĊę÷îĒðúÜ ĔîÿĉîìøĆó÷ŤĒúąĀîĊĚÿĉîéĞćđîĉîÜćî ÖćøđðúĊę÷îĒðúÜĔîÿĉîìøĆó÷ŤĒúąĀîĊĚÿĉîéĞćđîĉîÜćî ÿĉîìøĆó÷ŤéĞćđîĉîÜćîúéúÜ đóĉęö×ċĚî : úĎÖĀîĊĚÖćøÙšć úĎÖĀîĊĚĂČęî ı ïøĉþĆììĊęđÖĊę÷ü×šĂÜ ÿĉîÙšćÙÜđĀúČĂ ÙŠćĔßšÝŠć÷ÝŠć÷úŠüÜĀîšć ÿĉîìøĆó÷ŤĀöčîđüĊ÷îĂČęî ĂčðÖøèŤÙÜđĀúČĂøĂÖćøĔßšÜćî ĂčðÖøèŤĕêøüĉßĆęîÙÜđĀúČĂøĂÖćøĔßšÜćî ÙŠćÿĉìíĉĔîÖćøĔßšóČĚîìĊęēÛþèćÝŠć÷úŠüÜĀîšć ÿĉîìøĆó÷ŤĕöŠĀöčîđüĊ÷îĂČęî ĀîĊĚÿĉîéĞćđîĉîÜćîđóĉęö×ċĚî úéúÜ : đÝšćĀîĊĚÖćøÙšć øć÷ĕéšøĆïúŠüÜĀîšć đÝšćĀîĊĚĂČęî ïøĉþĆììĊęđÖĊę÷ü×šĂÜ ÙŠćĔßšÝŠć÷ÙšćÜÝŠć÷ õćþĊ×ć÷ìĊę÷ĆÜĕöŠëċÜÖĞćĀîéßĞćøą ĀîĊĚÿĉîĀöčîđüĊ÷îĂČęî ÿĞćøĂÜĀîĊĚÿĉîñúðøąē÷ßîŤóîĆÖÜćî ĀîĊĚÿĉîĕöŠĀöčîđüĊ÷îĂČęî đÜĉîÿéĕéšöćÝćÖÖĉÝÖøøöÖćøéĞćđîĉîÜćî ÝŠć÷éĂÖđïĊĚ÷ ÝŠć÷õćþĊđÜĉîĕéš đÜĉîÿéÿčìíĉĕéšöćÝćÖÖĉÝÖøøöéĞćđîĉîÜćî

Āöć÷đĀêčðøąÖĂïÜïÖćøđÜĉîđðŨîÿŠüîĀîċęÜ×ĂÜÜïÖćøđÜĉîîĊĚ

งบการเงินเฉพาะ ของบริษัท

2555

2554

2555

2554

180,786,562

143,563,4 0

224,044,325

10 ,7 8,527

16,818,757 2,276,717 377,12

32,176 3,4 0,644

1,882

2,70 ,312

1,722,258

3,163,3 3 ,418,356 27,384 1,11 ,584 625,28

15,716,034 173, 0

532,233 1,112,421

15,068,850 2,178,62 5,207,000 27,384 1,086,732 385,784

7,118,107 10,511 32,175 2,472,226

105,3 ,88

2 7,126

33,563 314,656

10,7 4,613 762,648 366,66 2 ,

510,846 121,701 00,40 341,85

206,776, 3

183,37 ,725

124,284,0 6

123,2 7,273

1 ,077,776

2, 6

2,145,306 633,84

2,588,008 13,082, 76 43 , 3, 0 ,523

2,634,86

22,004,143

108,256 3,5 7,687

1,430,340 16,8 3,36

774,325 4, 58, 8

544,5 0

14,446,420

1,554,388

2,0 5,287 111, 76

321,188 13,008,405 2,661,215

20,222,671

431,135 3,44 ,414

1,257,853 , 38,768

8 2,255 1,14 ,545

11,5 4,886

3,653,775

13,584 7,366,61 2,081,311 2,870,407

531, 00

1,426,100 1 6,280,680 253,512

53,365, 3

142,661,175

17,280,7 6 6,320, 32 43, 34

14,037,3 4 1,118,876 4,271,564 1,511,560 183,280,236 5 ,318

35,60 ,74

147,611,16

,843, 47

3,653,275

2 , 34 2,605,761 1,662,875 3,480,672

2 8,400

654,262 113, 33, 45 15

37,334,818

76,5 ,112

1 ,805,152 6,881,7 142,486 6,867, 13 888,821 4,478,630 755,561 133,237,570 5 ,318

18,158,38

115,01 ,863

93 บริษัท มาสเตอร์ แอด จํากัด (มหาชน) บริษัทย่อย และกิจการร่วมค้า

งบกระแสเงินสด สําหรับปีสิ้นสุดวันที่ 31 ธันวาคม 2555 และ 2554

ĀîŠü÷ ïćì

งบการเงินรวม 2555

งบการเงินเฉพาะ ของบริษัท

2554

2555

2554

ÖøąĒÿđÜĉîÿéÝćÖÖĉÝÖøøöúÜìčî àČĚĂđÜĉîúÜìčîßĆęüÙøćü ×ć÷đÜĉîúÜìčîßĆęüÙøćü đÜĉîòćÖíîćÙćøìĊęöĊ×šĂÝĞćÖĆéĔîÖćøĔßšđóĉęö×ċĚî àČĚĂđÜĉîúÜìčîĔîïøĉþĆì÷ŠĂ÷ĒúąïøĉþĆìøŠüöđóĉęö đÜĉîÿéøĆïÝćÖÖćø×ć÷ĂčðÖøèŤ àČĚĂĂčðÖøèŤĒúąÙĂöóĉüđêĂøŤēðøĒÖøö đÜĉîðŦîñúøĆïÝćÖïøĉþĆì÷ŠĂ÷ĒúąïøĉþĆìøŠüö đÜĉîÿéĕéšöćÝćÖ ĔßšĕðĔî ÖĉÝÖøøöúÜìčî ÿčìíĉ

32,000,000

2,135, 58 800,682

502,506 8,464,304

1,3 , 3 37,226,52

2,500,000

42,322 53,151,762

2 , 54,40 ,441

32,000,000

10,682

114,860 1,301,367

51,3 , 43 18,202,754

5,04 , 0

5,677 12,186,563

2 , 16, 30,877

ÖøąĒÿđÜĉîÿéÝćÖÖĉÝÖøøöÝĆéĀćđÜĉî ÖĎš÷ČöđÜĉîøą÷ąÿĆĚîđóĉęö×ċĚîÝćÖïøĉþĆììĊęđÖĊę÷ü×šĂÜ ÝŠć÷ßĞćøąđÝšćĀîĊĚÙŠćàČĚĂìøĆó÷Ťÿĉî ÝŠć÷ßĞćøąÙČîđÝšćĀîĊĚêćöÿĆââćđßŠćàČĚĂ đÜĉîÿéøĆïÝćÖÙŠćĀčšî×ĂÜïøĉþĆì÷ŠĂ÷ đÜĉîðŦîñúÝŠć÷ĔĀšÿüŠ îĕéšđÿĊ÷ìĊĕę öŠĂ÷ĎĔŠ îĂĞćîćÝÙüïÙčö đÜĉîðŦîñúÝŠć÷ đÜĉîÿéĔßšĕðĔîÖĉÝÖøøöÝĆéĀćđÜĉî ÿčìíĉ

2,000,000 26,020, 15

187,362

68,757,48

2, 65,816

2,450,010 3,71 ,8 4

1,26 ,884

4,206,300

68,757,48

72, 63,78

3,71 ,8 4

12,468,830 220,033,621 232,502,451

1, 31,844 218,101,777 220,033,621

21,838,077 155, 86,656 177,824,733

4,36 ,0 2 151,617,564 155, 86,656

×šĂöĎúđóĉęöđêĉö øć÷ÖćøìĊęĕöŠđÖĊę÷ü×šĂÜÖĆïđÜĉîÿé 1. øĆïøĎšõćøąĀîĊĚÿĉîñúðøąē÷ßîŤóîĆÖÜćî è üĆîìĊę 1 öÖøćÙö 2554 ēé÷ðøĆïðøčÜêšîìčî ĔîĂéĊêÖĆïÖĞćĕøÿąÿö 2. øĆïøĎšÖćøđóĉęö úé ×ĂÜöĎúÙŠć÷čêĉíøøö×ĂÜđÜĉîúÜìčîßĆęüÙøćü ēé÷ïĆîìċÖđóĉęöÖĆïÿŠüî×ĂÜñĎšëČĂĀčšî×ĂÜ ïøĉþĆìĒúąïøĉþĆì÷ŠĂ÷ 810,354 ïøĉþĆìøŠüö 103 3. øĆïøĎšÖĞćĕøìĊęđÖĉé×ċĚîÝøĉÜÝćÖÖćø×ć÷đÜĉîúÜìčîßĆęüÙøćü 73,307

4. ēĂîĂčðÖøèŤđðŨîÿĉîÙšćÙÜđĀúČĂĒúąĂčðÖøèŤÙÜđĀúČĂ øĂÖćøĔßšÜćî 3,327,430 5. ÝŠć÷ðŦîñúđðŨîĀčšîÿćöĆâ 4 , ,600 6. ĀčšîðŦîñúÙšćÜÝŠć÷ 37 7. êĆéĀîĊĚÿĎâøąĀüŠćÜðŘ 22,452 8. àČĚĂÿĉîìøĆó÷Ťēé÷÷ĆÜĕöŠĕéšÝŠć÷ßĞćøą 2,813,237 . àČĚĂÿĉîìøĆó÷Ťõć÷ĔêšÿĆââćđßŠćàČĚĂ 578,7 2 Āöć÷đĀêčðøąÖĂïÜïÖćøđÜĉîđðŨîÿŠüîĀîċęÜ×ĂÜÜïÖćøđÜĉîîĊĚ

8,308,432

788,183 215 3,420

26,020, 15

7,18 ,866 810,354

3,327,430 4 , ,600 37 22,452

744,765

3,41

4,206,300

94 บริษัท มาสเตอร์ แอด จํากัด (มหาชน) บริษัทย่อย และกิจการร่วมค้า

หมายเหตุประกอบงบการเงิน ณ วันที่ 31 ธันวาคม 2555 และ 2554

1. ×šĂöĎúìĆęüĕð ïøĉþĆì öćÿđêĂøŤ ĒĂé ÝĞćÖĆé öĀćßî ĕéšøĆïÖćøÝéìąđïĊ÷îÝĆéêĆĚÜÖĆïÖøąìøüÜóćèĉß÷ŤđðŨîïøĉþĆìÝĞćÖĆéđöČęĂüĆîìĊę 18 ÖčöõćóĆîíŤ 2531 Ēúąđ×šćđðŨîïøĉþìĆ ÝéìąđïĊ÷îĔîêúćéĀúĆÖìøĆó÷Ť đĂĘö đĂ ĕĂ ĒĀŠÜðøąđìýĕì÷ĔîðŘ 2546 ïøĉþìĆ éĞćđîĉîíčøÖĉÝøĆïÜćîēÛþèć ĔĀšđßŠćĂÿĆÜĀćøĉöìøĆó÷Ť ĒúąàČĂĚ ×ć÷ĂčðÖøèŤðćŜ ÷ēÛþèćéšü÷øąïïĕôôŜćĒúąëČĂđÜĉîúÜìčîĔîïøĉþìĆ ÷ŠĂ÷ĒúąïøĉþìĆ øŠüö ïøĉþìĆ öĊìĂĊę ÷ĎŠ êćöìĊÝę éìąđïĊ÷îĕüš đú×ìĊę 1 ßĆîĚ ìĊę 4 6 àĂ÷úćéóøšćü 1 ëîîúćéóøšćü Ē×üÜÝĂöóú đ×êÝêčÝÖĆ ø ÖøčÜđìóöĀćîÙø ðøąđìýĕì÷ è üĆîìĊę 31 íĆîüćÙö 2555 Ēúą 2554 ïøĉþĆìöĊñĎšëČĂĀčšîøć÷ĔĀâŠéĆÜîĊĚ ร้อยละ รายชื่อ

îć÷îóéú êĆèýúćøĆÖþŤ îć÷óĉđßþå öèĊøĆêîąóø ïøĉþĆì éĊÙĂøŤð ÖøčŢð ÝĞćÖĆé îćÜÿćüâćèĉýć êĆèýúćøĆÖþŤ îć÷ĒìîóÜýŤ êĆèýúćøĆÖþŤ îć÷üĉßĉê éĉúÖüĉúćý

2555

2554

7.34 12.74 10.00 6.40 6.40 5.68

13.6 12.74 10.00 6.40 5. 2

2. đÖèæŤĔîÖćøÝĆéìĞćÜïÖćøđÜĉîĒúąÜïÖćøđÜĉîøüö 2.1 đÖèæŤĔîÖćøÝĆéìĞćÜïÖćøđÜĉî ÜïÖćøđÜĉîîĊĚĕéšÝĆéìĞć×ċĚîêćöĀúĆÖÖćøïĆâßĊìĊęøĆïøĂÜìĆęüĕðõć÷ĔêšóøąøćßïĆââĆêĉÖćøïĆâßĊ ó.ý. 2543 ĒúąöćêøåćîÖćø ïĆâßĊ ìĊęĂĂÖõć÷ĔêšóøąøćßïĆââĆêĉüĉßćßĊóïĆâßĊ ó.ý. 2547 Ēúąêćö×šĂÖĞćĀîé×ĂÜÙèąÖøøöÖćøÖĞćÖĆïĀúĆÖìøĆó÷ŤĒúą êúćéĀúĆÖìøĆó÷ŤüćŠ éšü÷ÖćøÝĆéìĞćĒúąîĞćđÿîĂøć÷ÜćîìćÜÖćøđÜĉîõć÷ĔêšóøąøćßïĆââĆêĀĉ úĆÖìøĆó÷ŤĒúąêúćéĀúĆÖìøĆó÷Ť ó.ý. 2535 ēé÷ĔßšđÖèæŤøćÙćìčîđéĉö đüšîĒêŠÝąĕéšđðŗéđñ÷đðŨîĂ÷ŠćÜĂČęîđðŨîÖćøđÞóćą ÜïÖćøđÜĉîÞïĆïîĊĚÝĆéìĞć×ċĚîđðŨîõćþćĕì÷êćööćêøåćîÖćøïĆâßĊìĊęÖĞćĀîéĔîóøąøćßïĆââĆêĉüĉßćßĊóïĆâßĊ ó.ý. 2547 àċęÜëČĂđðŨîøć÷ÜćîìćÜÖćøđÜĉîìĊęđðŨîìćÜÖćøêćöÖãĀöć÷ ÖćøĒðúÜïÖćøđÜĉîÞïĆïîĊĚđðŨîõćþćĂČęîĔĀš÷ċéëČĂÜïÖćøđÜĉî ÞïĆïõćþćĕì÷ ĔîøąĀüŠćÜðŘ 2553 Ēúą 2554 ÿõćüĉßćßĊóïĆâßĊĕéšðøąÖćýđøČęĂÜöćêøåćîøć÷ÜćîìćÜÖćøđÜĉî öćêøåćîÖćøïĆâßĊ Ēúą ÖćøêĊÙüćööćêøåćîÖćøïĆâßĊĒúąöćêøåćîÖćøøć÷ÜćîìćÜÖćøđÜĉî àċęÜĕéšöĊÖćøĂĂÖĔĀöŠĒúąðøĆïðøčÜïćÜÞïĆï ēé÷öĊñúïĆÜÙĆïĔßšÿĞćĀøĆïøĂïøą÷ąđüúćïĆâßĊìĊęđøĉęöêšîĔîĀøČĂĀúĆÜüĆîìĊę 1 öÖøćÙö 2554 Ēúą 1 öÖøćÙö 2556 ïøĉþĆì ĕéšîĞćöćêøåćîéĆÜÖúŠćüìĊęđøĉęöêšîĔîĀøČĂĀúĆÜüĆîìĊę 1 öÖøćÙö 2554 öćëČĂðäĉïĆêĉĔîÜïÖćøđÜĉîîĊĚĒúšü

95 Ă÷ŠćÜĕøÖĘêćö êĆĚÜĒêŠüĆîìĊę 1 öÖøćÙö 2556 đðŨîêšîĕð ïøĉþĆìêšĂÜđøĉęöðäĉïĆêĉêćööćêøåćîÖćøïĆâßĊÞïĆïìĊę 12 đøČęĂÜ õćþĊ đÜĉîĕéš àċęÜÝąöĊñúĔĀšÜïÖćøđÜĉîðŘ 2556 ĒÿéÜöĎúÙŠćÿĉîìøĆó÷ŤĒúąÖĞćĕøÿčìíĉđóĉęö×ċĚî ÝćÖÖćøïĆîìċÖÿĉîìøĆó÷ŤõćþĊđÜĉîĕéšøĂ êĆéïĆâßĊ ĒúąêšĂÜðøĆïðøčÜÜïÖćøđÜĉîðŘ 2555 ĔĀöŠ đóČęĂĔĀšÜïÖćøđÜĉîÿćöćøëđðøĊ÷ïđìĊ÷ïÖĆîĕéšÖĆïÜïÖćøđÜĉîðŘ 2556 éĆÜîĊĚ ĀîŠü÷ úšćîïćì

งบการเงินรวม

งบการเงินเฉพาะ ของบริษัท

đóĉęö×ċĚî đóĉęö×ċĚî

.77 .77

7.02 7.02

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0.06

ÜïĒÿéÜåćîąÖćøđÜĉî è üĆîìĊę 31 íĆîüćÙö 2555

ÿĉîìøĆó÷Ť ÿĉîìøĆó÷ŤõćþĊđÜĉîĕéšøĂêĆéïĆâßĊ ÖĞćĕøÿąÿö ÜïÖĞćĕø×ćéìčîđïĘéđÿøĘÝ ÿĞćĀøĆïðŘÿĉĚîÿčéüĆîìĊę 31 íĆîüćÙö 2555

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2555

2554

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è üĆîìĊę 31 íĆîüćÙö 2555 Ēúą 2554 ÷ĂéøüöÿĉîìøĆó÷Ť×ĂÜïøĉþĆì÷ŠĂ÷ĒúąÖĉÝÖćøøŠüöÙšćàċęÜøüöĂ÷ĎŠĔîÜïĒÿéÜåćîą ÖćøđÜĉîøüöÙĉéđðŨîøšĂ÷úą 32.24 Ēúą øšĂ÷úą 36.44 ×ĂÜÿĉîìøĆó÷Ťøüö êćöúĞćéĆï Ēúą÷Ăéøüö×ĂÜøć÷ĕéšÿĞćĀøĆïðŘ ÿĉĚîÿčéüĆîìĊę 31 íĆîüćÙö 2555 Ēúą 2554 ïøĉþĆì÷ŠĂ÷ĒúąÖĉÝÖćøøŠüöÙšć àċęÜøüöĂ÷ĎŠĔîÜïÖĞćĕø×ćéìčîđïĘéđÿøĘÝøüöÙĉéđðŨî øšĂ÷úą 31.56 Ēúą øšĂ÷úą 28.06 ×ĂÜøć÷ĕéšøüö êćöúĞćéĆï đöČĂę üĆîìĊę 10 öĉëîč ć÷î 2554 ïøĉþĆì ïøĉþĆì ĂĉîđéĘÖàŤ ÙøĊđĂìĊô üĉúđúÝ ÝĞćÖĆé öĀćßî ïøĉþìĆ éĊĕàîŤ 103 ĂĉîđêĂøŤđîßĆęîĒîú ÝĞćÖĆé ĒúąïøĉþĆì éĊĕàîŤ 103 ÝĞćÖĆé ĕéšúÜîćöÝĆéêĆĚÜÖĉÝÖćøøŠüöÙšćõć÷ĔêšßČęĂ ĶÖĉÝÖćøøŠüöÙšć ĂĉîđéĘÖàŤ éĊ 103 öćēÖšķ ēé÷ öĊüĆêëčðøąÿÜÙŤđóČęĂ÷ČęîđÿîĂÜćî ĂĂÖĒïï ÝĆéìĞćĒúąïøĉĀćøÝĆéÖćøÜćîîĉìøøýÖćøĔîðøąđìýđÖćĀúĊ ĒúąÿĆéÿŠüîÖćø øŠüöúÜìčî×ĂÜïøĉþĆìĔîÖĉÝÖćøøŠüöÙšćÙČĂ øšĂ÷úą 20.00 ïøĉþĆìîĞćÜïÖćøđÜĉî×ĂÜÖĉÝÖćøøŠüöÙšćéĆÜÖúŠćüöćîĞćđÿîĂøüöĔî

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2.3 øć÷ÖćøïĆâßĊÖĆïïøĉþĆì÷ŠĂ÷ĒúąÖĉÝÖćøøŠüöÙšćìĊęöĊÿćøąÿĞćÙĆâĕéšëĎÖĀĆÖÖúïÖĆîĔîÜïÖćøđÜĉîøüöĒúšü 2.4 ÜïÖćøđÜĉîøüöîĊĕĚ éšÝéĆ ìĞć×ċîĚ ēé÷Ĕßšîē÷ïć÷ÖćøïĆâßĊđéĊ÷üÖĆîÿĞćĀøĆïøć÷ÖćøïĆâßĊìđĊę ĀöČĂîÖĆîÿĞćĀøĆïÖćøÝĆéìĞćÜïÖćøđÜĉî đÞóćąïøĉþĆìĀøČĂđĀêčÖćøèŤìćÜïĆâßĊìĊęÙúšć÷ÙúċÜÖĆî 3. îē÷ïć÷ÖćøïĆâßĊìĊęÿĞćÙĆâ îē÷ïć÷ÖćøïĆâßĊìĊęÿĞćÙĆâìĊęĔßšĔîÖćøÝĆéìĞćÜïÖćøđÜĉîøüöĒúąÜïÖćøđÜĉîđÞóćą×ĂÜïøĉþĆìöĊéĆÜêŠĂĕðîĊĚ 3.1 đÜĉîÿéĒúąøć÷ÖćøđìĊ÷ïđìŠćđÜĉîÿé đÜĉîÿéĒúąøć÷ÖćøđìĊ÷ïđìŠćđÜĉîÿé ðøąÖĂïéšü÷ đÜĉîÿéĔîöČĂ đÜĉîòćÖÿëćïĆîÖćøđÜĉîìĊęöĊĂć÷čĕöŠđÖĉî 3 đéČĂî Ēúą đÜĉîúÜìčîøą÷ąÿĆîĚ ìĊöę ÿĊ õćóÙúŠĂÜÿĎÜĔîÖćøđðúĊ÷ę îöČĂ ĒúąöĊĂć÷čÙÜđĀúČĂîĆïĒêŠüîĆ ĂĂÖêøćÿćøÝîëċÜðŦÝÝčïîĆ đðŨîøą÷ąđüúć ÿćöđéČĂîĀøČĂêĞęćÖüŠć ēé÷ĕöŠøüöøć÷ÖćøđÜĉîòćÖìĊęêĉéõćøąÙĞĚćðøąÖĆî 3.2 đÜĉîúÜìčîĔîĀúĆÖìøĆó÷ŤđñČęĂ×ć÷ đÜĉîúÜìčîĔîĀúĆÖìøĆó÷ŤëČĂđðŨîđÜĉîúÜìčîĔîĀúĆÖìøĆó÷ŤđñČęĂ×ć÷ ĒúąìĊęÝąëČĂĕüšēé÷ĕöŠøąïčßŠüÜđüúć ĒúąĂćÝ×ć÷đóČęĂ đÿøĉöÿõćóÙúŠĂÜ ĀøČĂđöČęĂĂĆêøćéĂÖđïĊĚ÷đðúĊę÷îĒðúÜ ĒÿéÜøüöĕüšĔîÿĉîìøĆó÷ŤĕöŠĀöčîđüĊ÷î đüšîĒêŠÖøèĊìĊęòść÷ïøĉĀćø ĒÿéÜđÝêÝĞćîÜìĊÝę ąëČĂĕüšĔîßŠüÜđüúćîšĂ÷ÖüŠćÿĉïÿĂÜđéČĂîîĆïĒêŠüîĆ ìĊĔę îÜïĒÿéÜåćîąÖćøđÜĉî ĀøČĂđüšîĒêŠÖøèĊìòĊę ćś ÷ïøĉĀćø öĊÙüćöÝĞćđðŨîìĊęÝąêšĂÜ×ć÷đóČęĂđóĉęöđÜĉîìčîĀöčîđüĊ÷î ÝċÜÝąĒÿéÜøüöĕüšĔîÿĉîìøĆó÷ŤĀöčîđüĊ÷î ÖćøàČĚĂĒúą×ć÷đÜĉîúÜìčîÝąïĆîìċÖïĆâßĊ è üĆîìĊęàČĚĂ×ć÷ àċęÜđðŨîüĆîìĊęïøĉþĆìêÖúÜìĊęÝąàČĚĂĀøČĂ×ć÷đÜĉîúÜìčî êšîìčî×ĂÜđÜĉî úÜìčîøüöêšîìčîÖćøÝĆéìĞćøć÷Öćø ÿŠüîêšîìčîêŠĂĀîŠü÷ÙĞćîüèéšü÷üĉíĊëĆüđÞúĊę÷ è üĆîÿĉĚîðŘ ïøĉþĆìĒúąïøĉþĆì÷ŠĂ÷ÝąøĆïøĎšÖćøđðúĊę÷îĒðúÜĔîöĎúÙŠć÷čêĉíøøö×ĂÜđÜĉîúÜìčî×šćÜêšîđðŨîÿŠüîĀîċęÜ×ĂÜÖĞćĕø ×ćéìčîđïĘéđÿøĘÝĂČęî

97 3.3 úĎÖĀîĊĚÖćøÙšć úĎÖĀîĊĚÖćøÙšć ĒÿéÜéšü÷öĎúÙŠćìĊęÝąĕéšøĆï ĀîĊĚÿĎâìĊęđÖĉé×ċĚîĔîøąĀüŠćÜðŘêĆéđðŨîÙŠćĔßšÝŠć÷ìĆîìĊìĊęđÖĉé×ċĚî 3.4 ÿĉîÙšćÙÜđĀúČĂ ÿĉîÙšćÙÜđĀúČĂ ĒÿéÜéšü÷øćÙćêćöøćÙćìčîĀøČĂöĎúÙŠćÿčìíĉìĊęÙćéüŠćÝąĕéšøĆï ĒúšüĒêŠøćÙćĔéÝąêĞęćÖüŠć øćÙćìčîÙĞćîüè êćöüĉíĊđ×šćÖŠĂî ĂĂÖÖŠĂî öĎúÙŠćÿčìíĉìĊęÝąĕéšøĆï Āöć÷ëċÜ øćÙćìĊęÙćéüŠćÝą×ć÷ĕéšêćöðÖêĉ×ĂÜíčøÖĉÝ ĀĆÖéšü÷ÙŠćĔßšÝŠć÷ ĂČęîìĊęÝĞćđðŨîđóČęĂĔĀš×ć÷ÿĉîÙšćîĆĚîĕéš ïøĉþĆìöĊîē÷ïć÷ÖćøêĆĚÜÿĞćøĂÜđñČęĂÖćøúéúÜ×ĂÜöĎúÙŠćÿĉîÙšćÙÜđĀúČĂ đöČęĂÿĉîÙšćđÖŠć ĀøČĂđÿČęĂöÙčèõćó 3.5 đÜĉîúÜìčîĔîïøĉþĆì÷ŠĂ÷ĒúąïøĉþĆìøŠüö đÜĉîúÜìčîĔîïøĉþĆìøŠüöìĊęĒÿéÜĔîÜïÖćøđÜĉîøüö ïĆîìċÖïĆâßĊêćöüĉíĊÿŠüîĕéšđÿĊ÷ ÿŠüîđÜĉîúÜìčîĔîïøĉþĆì÷ŠĂ÷ĒúąïøĉþĆìøŠüö ìĊęĒÿéÜĔîÜïÖćøđÜĉîđÞóćą×ĂÜïøĉþĆì ïĆîìċÖïĆâßĊêćöüĉíĊøćÙćìčî ÖćøéšĂ÷ÙŠć×ĂÜđÜĉîúÜìčîĔîïøĉþĆì÷ŠĂ÷ĒúąïøĉþĆìøŠüö ÝąïĆîìċÖđðŨîÙŠćđñČęĂÖćøðøĆïöĎúÙŠćđÜĉîúÜìčîđöČęĂöĊ×šĂïŠÜßĊĚëċÜÖćøéšĂ÷ÙŠć 3.6 ĂćÙćøĒúąĂčðÖøèŤ ĂćÙćøĒúąĂčðÖøèŤ ĒÿéÜéšü÷øćÙćìčîđéĉöĀĆÖÙŠćđÿČęĂöøćÙćÿąÿö ÙŠćđÿČęĂöøćÙćÙĞćîüèēé÷üĉíĊđÿšîêøÜêćöĂć÷čÖćøĔĀšðøąē÷ßîŤēé÷ðøąöćè×ĂÜÿĉîìøĆó÷Ť éĆÜêŠĂĕðîĊĚ ĂćÙćø ÙŠćêÖĒêŠÜĒúąđÙøČęĂÜĔßšÿĞćîĆÖÜćî đÙøČęĂÜöČĂĒúąĂčðÖøèŤ ÷ćîóćĀîą ēÙøÜðŜć÷ ĂČęîė

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ÖĞćĕø×ćéìčîÝćÖÖćø×ć÷ĂčðÖøèŤ ÙĞćîüèÝćÖøćÙćêćöïĆâßĊĒúąøüöĂ÷ĎŠĔîÜïÖĞćĕø×ćéìčîđïĘéđÿøĘÝ øć÷ÝŠć÷đÖĊę÷üÖĆïÖćøêŠĂđêĉö ÖćøìĞć×ċĚîĔĀöŠ ĀøČĂÖćøðøĆïðøčÜÿĉîìøĆó÷ŤĔĀšéĊ×ċĚî àċęÜìĞćĔĀšøćÙćđðúĊę÷îĒìîĔîðŦÝÝčïĆî×ĂÜ ÿĉîìøĆó÷Ťđóĉęö×ċĚîĂ÷ŠćÜđðŨîÿćøąÿĞćÙĆâ ÝąøüöđðŨîøćÙćìčî×ĂÜÿĉîìøĆó÷Ť ÿŠüîÙŠćàŠĂöĒàöĒúąÙŠćïĞćøčÜøĆÖþć øĆïøĎšđðŨî ÙŠćĔßšÝŠć÷ĔîøĂïøą÷ąđüúćïĆâßĊìĊęđÖĉé×ċĚî 3.7 ÙĂöóĉüđêĂøŤēðøĒÖøö ÙĂöóĉüđêĂøŤēðøĒÖøö ĒÿéÜøć÷Öćøéšü÷øćÙćìčîđéĉöĀĆÖÙŠćêĆéÝĞćĀîŠć÷ÿąÿö ÙŠćêĆéÝĞćĀîŠć÷ÙĞćîüèēé÷üĉíĊđÿšîêøÜêćö Ăć÷čÖćøĔĀšðøąē÷ßîŤ×ĂÜÿĉîìøĆó÷ŤàċęÜðøąöćèĕüš 5 ðŘ

98 3.8 ĂčðÖøèŤÙÜđĀúČĂøĂÖćøĔßšÜćî ĂčðÖøèŤÙÜđĀúČĂøĂÖćøĔßšÜćî ÿŠüîĔĀâŠðøąÖĂïéšü÷ đĀúĘÖøĎðóøøè ĂčðÖøèŤĕêøüĉßĆęî ĒúąĂčðÖøèŤĂČęîė ìĊęĔßšÜćîĒúšü ēé÷ĒÿéÜéšü÷öĎúÙŠćøćÙćêćöïĆâßĊ è üĆîìĊęøĆïēĂîöćÝćÖĂćÙćøĒúąĂčðÖøèŤ đöČęĂĕöŠĕéšĔßšĔîÖćøéĞćđîĉîÜćî ïøĉþĆìĀ÷čéÙĉé ÙŠćđÿČęĂöøćÙćîĆïÝćÖüĆîìĊęøĆïēĂî ĒúąÝąêĆéÝĞćĀîŠć÷đöČęĂöĊÖćø×ć÷ 3. ĂÿĆÜĀćøĉöìøĆó÷ŤđóČęĂÖćøúÜìčî ìĊéę îĉ ìĊ÷ę ÜĆ ĕöŠĕéšĔßšĔîÖćøéĞćđîĉîÜćî×ĂÜïøĉþìĆ àċÜę ëČĂđðŨîĂÿĆÜĀćøĉöìøĆó÷ŤđóČĂę ÖćøúÜìčî àċÜę üĆéöĎúÙŠćđøĉöę ĒøÖéšü÷øćÙćìčîïüÖ êšîìčîĔîÖćøìĞćøć÷Öćø ĒúąüĆéöĎúÙŠćõć÷ĀúĆÜÖćøøĆïøĎšéšü÷øćÙćìčîĀĆÖÙŠćđñČęĂÖćøéšĂ÷ÙŠć×ĂÜÿĉîìøĆó÷Ť ëšćöĊ

3.10 ĂčðÖøèŤĕêøüĉßĆęîÙÜđĀúČĂøĂÖćøĔßšÜćî ĂčðÖøèŤĕêøüĉßĆęîÙÜđĀúČĂøĂÖćøĔßšÜćî ĒÿéÜéšü÷øćÙćìčîđéĉöÿčìíĉéšü÷ÙŠćđñČęĂÖćøéšĂ÷ÙŠć×ĂÜÿĉîìøĆó÷Ť ēé÷ÝąđøĉęöÙĉé ÙŠćđÿČęĂöøćÙć đöČęĂîĞćĕðêĉéêĆĚÜĒúąóøšĂöĔßšÜćî ĀøČĂêĆéÝĞćĀîŠć÷đöČęĂöĊÖćø×ć÷ 3.11 ÙŠćÙüćöîĉ÷ö ÙŠćÙüćöîĉ÷ö đÖĉéÝćÖêšîìčîÖćøàČĚĂđÜĉîúÜìčîìĊęđÖĉîÖüŠćöĎúÙŠć÷čêĉíøøö×ĂÜÿĉîìøĆó÷ŤÿčìíĉĔîÿĆéÿŠüî×ĂÜïøĉþĆìÝćÖÖćøàČĚĂ đÜĉîúÜìčî ÙŠćÙüćöîĉ÷öĒÿéÜĔîÜïĒÿéÜåćîąÖćøđÜĉîéšü÷øćÙćìčîĀĆÖÙŠćđñČęĂÖćøéšĂ÷ÙŠć ëšćöĊ

3.12 ÖćøéšĂ÷ÙŠć×ĂÜÿĉîìøĆó÷Ť ïøĉþĆì ïøĉþĆì÷ŠĂ÷ĒúąÖĉÝÖćøøŠüöÙšćðøąđöĉîÖćøéšĂ÷ÙŠć×ĂÜìĊęéĉî ĂćÙćøĒúąĂčðÖøèŤ ĒúąÿĉîìøĆó÷ŤĕöŠĀöčîđüĊ÷îĂČęî đöČęĂöĊđĀêčÖćøèŤĀøČĂöĊÖćøđðúĊę÷îĒðúÜÿõćóÖćøèŤìĊęìĞćĔĀšđÖĉé×šĂïŠÜßĊĚüŠćöĎúÙŠćìĊęÙćéüŠćÝąĕéšøĆïÙČî×ĂÜÿĉîìøĆó÷ŤöĊÝĞćîüî êĞęćÖüŠćöĎúÙŠćìĊęïĆîìċÖïĆâßĊĕüš ×ćéìčîÝćÖÖćøéšĂ÷ÙŠćïĆîìċÖđðŨîÙŠćĔßšÝŠć÷ĔîÜïÖĞ ćĕø×ćéìčîđïĘéđÿøĘÝ ÿĞćĀøĆïÿĉîìøĆó÷ŤìĊę ïĆîìċÖĔîøćÙćìčî ĀøČĂëČĂđðŨîøć÷ÖćøĀĆÖÝćÖÿŠüîđÖĉîìčîÝćÖÖćøêĊøćÙćĔĀöŠ ĔîÖøèĊìĊęÿĉîìøĆó÷ŤîĆĚîĒÿéÜĔîøćÙćìĊęêĊĔĀöŠ ēé÷×ćéìčîÝćÖÖćøéšĂ÷ÙŠćìĊęîĞćöćĀĆÖîĆĚîêšĂÜĕöŠđÖĉîÝĞćîüîìĊęïĆîìċÖĂ÷ĎŠĔîÿŠüîđÖĉîìčîÝćÖÖćøêĊøćÙćÿĉîìøĆó÷ŤÿĞ ćĀøĆï ÿĉîìøĆó÷Ťøć÷ÖćøđéĊ÷üÖĆî ïøĉþĆìĒúąïøĉþĆì÷ŠĂ÷ÝąïĆîìċÖÖúĆïøć÷Öćø×ćéìčîÝćÖÖćøéšĂ÷ÙŠć×ĂÜÿĉîìøĆó÷Ť đðŨîøć÷ĕéš ĀøČĂëČĂđðŨîøć÷ÖćøđóĉęöÿŠüîđÖĉîìčîÝćÖÖćøêĊøćÙćĔĀöŠ đöČęĂ×šĂïŠÜßĊĚđÖĊę÷üÖĆïÖćøéšĂ÷ÙŠć×ĂÜÿĉîìøĆó÷ŤĕöŠöĊĂ÷ĎŠĂĊÖêŠĂĕðĀøČĂ ×ćéìčîÝćÖÖćøéšĂ÷ÙŠćöĊÝćĞ îüîúéúÜ ÝĞćîüîđÜĉîìĊÖę úĆïøć÷ÖćøÝąêšĂÜĕöŠÿÜĎ ÖüŠćöĎúÙŠćêćöïĆâßĊ ÿčìíĉÝćÖÙŠćđÿČĂę öøćÙćĀøČĂ øć÷ÝŠć÷êĆéïĆâßĊ ìĊęÙüøđðŨîĀćÖïøĉþĆì ïøĉþĆì÷ŠĂ÷ĒúąÖĉÝÖćøøŠüöÙšćĕöŠđÙ÷øĆïøĎšñú×ćéìčîÝćÖÖćøéšĂ÷ÙŠć×ĂÜÿĉîìøĆó÷Ť îĆĚîĔîðŘÖŠĂî 3.13 ÿŠüîúéÝćÖÖćøđóĉęöÿĆéÿŠüîÖćøëČĂĀčšîĔîïøĉþĆì÷ŠĂ÷ ÿŠüîúéÝćÖÖćøđóĉęöÿĆéÿŠüîÖćøëČĂĀčšîĔîïøĉþĆì÷ŠĂ÷ đÖĉéÝćÖïøĉþĆìÝŠć÷êšîìčîÖćøàČĚĂđÜĉîúÜìčîĔîïøĉþĆì÷ŠĂ÷ĔîöĎúÙŠćìĊę êĞćę ÖüŠćöĎúÙŠć÷čêíĉ øøö×ĂÜÿĉîìøĆó÷Ťÿìč íĉ×ĂÜïøĉþìĆ ÷ŠĂ÷ øćÙćêćöïĆâßĊ àċÜę ÿŠüîúéÝćÖÖćøđóĉöę ÿĆéÿŠüîÖćøëČĂĀčîš ĔîïøĉþìĆ ÷ŠĂ÷ĒÿéÜøć÷Öćøõć÷ĔêšÿŠüî×ĂÜñĎšëČĂĀčšî ĒúąÝąúéúÜĀćÖïøĉþĆìÝĞćĀîŠć÷ĀøČĂúéÿĆéÿŠüîÖćøúÜìčîĔîïøĉþĆì÷ŠĂ÷

99 3.14 ÿĆââćđßŠćøą÷ą÷ćü ı ÖøèĊìĊęïøĉþĆìĒúąïøĉþĆì÷ŠĂ÷đðŨîñĎšđßŠć ÖćøđßŠćĂčðÖøèŤ àċÜę ïøĉþìĆ øĆïÙüćöđÿĊ÷ę ÜĒúąñúêĂïĒìî×ĂÜÙüćöđðŨîđÝšć×ĂÜìĆÜĚ ĀöéĔîìøĆó÷Ťÿîĉ ÝąëĎÖÝĆéđðŨîÿĆââćđßŠć ÖćøđÜĉî ÿĆââćđßŠćÖćøđÜĉîëČĂđðŨîøć÷ÝŠć÷òść÷ìčîêćööĎúÙŠć÷čêĉíøøöÿčìíĉ×ĂÜÿĉîìøĆó÷ŤìęĊđßŠćĀøČĂöĎúÙŠćðŦÝÝčïĆîÿčìíĉ×ĂÜ ÝĞćîüîđÜĉîìĊęêšĂÜÝŠć÷êćöÿĆââćđßŠć ĒúšüĒêŠÝĞćîüîĔéÝąêĞęćÖüŠć ēé÷ÝĞćîüîđÜĉîìĊęêšĂÜÝŠć÷ÝąĒïŠÜđðŨîÿŠüî×ĂÜĀîĊĚÿĉîĒúą ÙŠćĔßšÝŠć÷ìćÜÖćøđÜĉî đóČęĂĔĀšÝĞćîüîđÜĉîìĊęêšĂÜÝŠć÷ĔîĒêŠúąÜüéöĊÝĞćîüîÙÜìĊę ÙŠćđßŠćàċęÜêšĂÜÝŠć÷êćöõćøąñĎÖóĆîĀĆÖÖĆï ÙŠćĔßšÝŠć÷ìćÜÖćøđÜĉî ÝąïĆîìċÖđðŨîĀîĊÿĚ ĉîõć÷ĔêšÿĆââćđßŠćÖćøđÜĉî ÿŠüîéĂÖđïĊĚ÷ÝŠć÷ÝąïĆîìċÖĔîÜïÖĞćĕø×ćéìčîđïĘéđÿøĘÝ êúĂéĂć÷č×ĂÜÿĆââćđßŠć ÿĉîìøĆó÷Ťõć÷Ĕêšÿâ Ć âćđßŠćÖćøđÜĉî ÝąÙĉéÙŠćđÿČĂę öøćÙćêúĂéĂć÷č×ĂÜÖćøĔßšÜćî×ĂÜìøĆó÷Ťÿîĉ îĆîĚ ÖćøđßŠćÿĉîìøĆó÷Ťēé÷ìĊęÙüćöđÿĊę÷ÜĒúąñúêĂïĒìî×ĂÜÙüćöđðŨîđÝšć×ĂÜêÖĂ÷ĎŠÖĆïñĎšĔĀšđßŠć ÝąëĎÖÝĆéđðŨîÿĆââćđßŠć éĞćđîĉîÜćî ÖćøßĞćøąđÜĉîõć÷ĔêšÿĆââćđßŠćéĞćđîĉîÜćî ÝąïĆîìċÖđðŨîÙŠćĔßšÝŠć÷ĔîÜïÖĞćĕø×ćéìčîđïĘéđÿøĘÝēé÷üĉíĊđÿšîêøÜ êúĂéĂć÷čÿĆââćđßŠć ÙŠćĔßšÝŠć÷ìĊęđÖĉé×ċĚîÝćÖÖćø÷ÖđúĉÖÿĆââćđßŠćéĞćđîĉîÜćîÖŠĂîĀöéĂć÷čÖćøđßŠć đßŠî đïĊĚ÷ðøĆïìĊęêšĂÜÝŠć÷ ĔĀšñšĔĎ ĀšđßŠć ÝąïĆîìċÖđðŨîÙŠćĔßšÝŠć÷ĔîøĂïøą÷ąđüúćïĆâßĊìĊęÖćø÷ÖđúĉÖîĆĚîđÖĉé×ċĚî 3.15 ÿĆââćđßŠćøą÷ą÷ćü ÖøèĊìĊęïøĉþĆì ïøĉþĆì÷ŠĂ÷ĒúąÖĉÝÖćøøŠüöÙšćđðŨîñĎšĔĀšđßŠć ÿĉîìøĆó÷ŤìĔĊę ĀšđßŠćõć÷ĔêšđÜČĂę îĕ×ÿĆââćđßŠćéĞćđîĉîÜćî ÝąïĆîìċÖøüöĂ÷ĎĔŠ îÿŠüîĂćÙćøĒúąĂčðÖøèŤĔîÜïĒÿéÜåćîąÖćøđÜĉî ÙŠćđÿČęĂöøćÙćÙĞćîüèÝćÖĂć÷čÖćøĔßšÜćîēé÷ðøąöćèĔîĀúĆÖÖćøđéĊ÷üÖĆïÿĉîìøĆó÷ŤìĊęöĊúĆÖþèąÙúšć÷ÙúċÜÖĆî øć÷ĕéšÙŠćđßŠć ïĆîìċÖĔîÜïÖĞćĕø×ćéìčîđïĘéđÿøĘÝēé÷üĉíĊđÿšîêøÜêúĂéĂć÷čÿĆââćđßŠć 3.16 ÖćøøĆïøĎšøć÷ĕéšĒúąÙŠćĔßšÝŠć÷ øć÷ĕéšÝćÖÖćø×ć÷ øĆïøĎšđöČęĂÿŠÜöĂï ēĂîÙüćöđÿĊę÷ÜĒúąñúêĂïĒìî×ĂÜÙüćöđðŨîđÝšć×ĂÜÿĉîÙšćĔĀšÖĆïñĎšàČĚĂĒúšü øć÷ĕéšÙŠćïøĉÖćø øĆïøĎšđöČęĂĕéšöĊÖćøĔĀšïøĉÖćøĒúąđøĊ÷ÖđÖĘïđÜĉîĒúšü ĒúąÿćöćøëüĆéöĎúÙŠćđðŨîÝĞćîüîđÜĉîĕéšĒúšü øć÷ĕéšĂČęîĒúąÙŠćĔßšÝŠć÷ øĆïøĎšêćöđÖèæŤÙÜÙšćÜ 3.17 õćþĊđÜĉîĕéš ïøĉþĆì ïøĉþĆì÷ŠĂ÷ ĒúąÖĉÝÖćøøŠüöÙšćÝĞćîüîĀîĊĚÿĉîõćþĊđÜĉîĕéšêćöđÜČęĂîĕ×ìĊęÖĞćĀîéĔîðøąöüúøĆþãćÖø 3.18 ïøĉþĆììĊęđÖĊę÷ü×šĂÜÖĆî ïčÙÙúĀøČĂÖĉÝÖćøìĊęđÖĊę÷ü×šĂÜÖĆîÖĆïïøĉþĆì Āöć÷ëċÜ ïčÙÙúĀøČĂÖĉÝÖćøìĊęöĊĂĞćîćÝÙüïÙčöïøĉþĆì ĀøČĂëĎÖÙüïÙčöēé÷ïøĉþĆì ĕöŠüćŠ ÝąđðŨîēé÷ìćÜêøÜĀøČĂìćÜĂšĂö ĀøČĂĂ÷ĎõŠ ć÷ĔêšÖćøÙüïÙčöđéĊ÷üÖĆîÖĆïïøĉþìĆ îĂÖÝćÖîĊïĚ Ùč ÙúĀøČĂÖĉÝÖćøìĊđę ÖĊ÷ę ü×šĂÜÖĆî ÷ĆÜĀöć÷øüöëċÜïøĉþĆìøŠüöĒúąïčÙÙúàċęÜöĊĂĉìíĉóúĂ÷ŠćÜđðŨîÿćøąÿĞćÙĆâìĆĚÜìćÜêøÜĒúąìćÜĂšĂöÖĆïïøĉþĆì ñĎšïøĉĀćøÿĞćÙĆâ ÖøøöÖćøĀøČĂóîĆÖÜćî×ĂÜïøĉþĆì ìĊęöĊĂĞćîćÝĔîÖćøÖĞćĀîéìĉýìćÜÖćøéĞćđîĉîÜćî×ĂÜïøĉþĆì 3.1 ÖćøĒðúÜÙŠćđÜĉîêøćêŠćÜðøąđìý ïøĉþìĆ ïøĉþìĆ ÷ŠĂ÷ĒúąÖĉÝÖćøøŠüöÙšćĒðúÜÙŠćøć÷ÖćøìĊđę ðŨîđÜĉîêøćêŠćÜðøąđìýìĊđę Öĉé×ċîĚ ĔĀšđðŨîđÜĉîïćìđóČĂę ÖćøïĆîìċÖïĆâßĊ ēé÷ĔßšĂĆêøćĒúÖđðúĊę÷î è üĆîìĊęđÖĉéøć÷Öćø ÿĉîìøĆó÷ŤĒúąĀîĊĚÿĉîìĊęđðŨîêĆüđÜĉîìĊęöĊÙŠćđðŨîđÜĉîêøćêŠćÜðøąđìý ĒúąöĊ÷Ăé ÙÜđĀúČĂ è üĆîÿĉĚîðŘ ĒðúÜÙŠćđðŨîđÜĉîïćìēé÷ĔßšĂĆêøćĒúÖđðúĊę÷î è üĆîîĆĚî ÖĞćĕøĒúą×ćéìčîìĊęđÖĉéÝćÖÖćøøĆïĀøČĂÝŠć÷ ßĞćøąđÜĉîêøćêŠćÜðøąđìýĒúąìĊęđÖĉéÝćÖÖćøĒðúÜÙŠćÿĉîìøĆó÷ŤĒúąĀîĊĚÿĉîìĊęđðŨîêĆüđÜĉîéĆÜÖúŠćü øĆïøĎšđðŨîÖĞćĕøĀøČĂ×ćéìčî ĔîÜïÖĞćĕø×ćéìčîđïĘéđÿøĘÝ

100 3.20 ÖĞćĕøêŠĂĀčšî×ĆĚîóČĚîåćî ÖĞćĕøêŠĂĀčšî ÙĞćîüèēé÷ÖćøĀćøÖĞćĕøÿčìíĉÿĞćĀøĆïðŘéšü÷ÝĞćîüîĀčšîëĆüđÞúĊę÷ëŠüÜîĞĚćĀîĆÖøąĀüŠćÜðŘ ĔîÖøèĊìĊęöĊÖćøÝŠć÷Āčšî ðŦîñú ïøĉþìĆ ÝąÙĞćîüèÝĞćîüîĀčîš ÿćöĆâìĊëę ĂČ ēé÷ñĎëš ĂČ Āčîš ÖŠĂîÖćøÝŠć÷Āčîš ðŦîñúêćöÿĆéÿŠüîìĊđę ðúĊ÷ę îĒðúÜĕð×ĂÜÝĞćîüî ĀčšîÿćöĆâìĊęëČĂēé÷ñĎšëČĂĀčšîĔĀöŠ đÿöČĂîüŠćÖćøÝŠć÷ĀčšîðŦîñúĕéšđÖĉé×ċĚîêĆĚÜĒêŠüĆîđøĉęöêšî×ĂÜÜüéĒøÖÿčéìĊęîĞćđÿîĂ ĔîðŘ 2555 ïøĉþĆìöĊÖćøÝŠć÷ĀčšîðŦîñú ÝĞćîüî 50 úšćîĀčšî đðŨîñúĔĀšïøĉþĆìÙĞćîüèÝĞćîüîĀčšîÿćöĆâëĆüđÞúĊę÷ëŠüÜîĞĚćĀîĆÖ ÿĞćĀøĆïðŘ 2554 ĔĀöŠ ÝćÖ 125 úšćîĀčšî đðŨî 175 úšćîĀčšî ìĆĚÜîĊĚ đóČęĂĔĀš×šĂöĎúÖĞćĕøêŠĂĀčšî×ĆĚîóČĚîåćîìĊęîĞćđÿîĂÿćöćøë đðøĊ÷ïđìĊ÷ïÖĆîĕéš 3.21 đÜĉîÖĂÜìčîÿĞćøĂÜđúĊĚ÷ÜßĊó ïøĉþĆìĒúąïøĉþĆì÷ŠĂ÷ĕéšÝĆéêĆĚÜÖĂÜìčîÿĞćøĂÜđúĊĚ÷ÜßĊó àċęÜÖĞćĀîéĔĀšóîĆÖÜćîĒúąïøĉþĆìĒúąïøĉþĆì÷ŠĂ÷ÝŠć÷ÿöìïđ×šć ÖĂÜìčî ēé÷ìĊęÿĉîìøĆó÷Ť×ĂÜÖĂÜìčîĕéšĒ÷ÖĂĂÖÝćÖÿĉîìøĆó÷Ť×ĂÜïøĉþĆìĒúąïøĉþĆì÷ŠĂ÷ ĒúąïøĉĀćøēé÷ñĎšÝĆéÖćøÖĂÜìčî ÿĞćøĂÜđúĊĚ÷ÜßĊó đÜĉîÝŠć÷ÿöìïđ×šćÖĂÜìčîÿĞćøĂÜđúĊ÷Ě ÜßĊó×ĂÜïøĉþìĆ ĒúąïøĉþìĆ ÷ŠĂ÷ ïĆîìċÖđðŨîÙŠćĔßšÝćŠ ÷ĔîÜïÖĞćĕø×ćéìčîđïĘéđÿøĘÝÿĞćĀøĆï øĂïøą÷ąđüúćïĆâßĊìĊęđÖĊę÷ü×šĂÜ 3.22 ēÙøÜÖćøøŠüöúÜìčîøąĀüŠćÜîć÷ÝšćÜĒúąúĎÖÝšćÜ đÜĉîÿöìïìĊęïøĉþĆìĒúąïøĉþĆì÷ŠĂ÷ÝŠć÷ĔĀšĒÖŠÿöćßĉÖ×ĂÜēÙøÜÖćøøŠüöúÜìčîøąĀüŠćÜîć÷ÝšćÜĒúąúĎÖÝšćÜ &+I1 ïĆîìċÖđðŨî ÙŠćĔßšÝŠć÷ĔîÜïÖĞćĕø×ćéìčîđïĘéđÿøĘÝÿĞćĀøĆïøĂïøą÷ąđüúćïĆâßĊìĊęđÖĊę÷ü×šĂÜ 3.23 ñúðøąē÷ßîŤóîĆÖÜćîĀúĆÜĂĂÖÝćÖÜćîĒúąñúðøąē÷ßîŤøą÷ą÷ćüĂČęî ïøĉþìĆ ĒúąïøĉþìĆ ÷ŠĂ÷øĆïøĎĀš îĊÿĚ îĉ ñúðøąē÷ßîŤóîĆÖÜćî đîČĂę ÜÝćÖÖćøÝĆéĔĀšöñĊ úðøąē÷ßîŤóîĆÖÜćîĀúĆÜđÖþĊ÷èĂć÷č đóČĂę ÝŠć÷ ĔĀšĒÖŠóîĆÖÜćîêćöÖãĀöć÷ĒøÜÜćî×ĂÜðøąđìýĕì÷Ēúąñúðøąē÷ßîŤøą÷ą÷ćüĂČîę ×ĂÜóîĆÖÜćîÿĞćĀøĆïóîĆÖÜćîìĊìę ćĞ Üćî đðŨîøą÷ąđüúćîćî àċÜę ÙĞćîüèēé÷ñĎđš ßĊ÷ę üßćâìćÜÙèĉêýćÿêøŤðøąÖĆîõĆ÷éšü÷đìÙîĉÙÖćøðøąöćèÖćøêćöĀúĆÖÙèĉêýćÿêøŤ ðøąÖĆîõĆ÷ "ctuarial Technique ìĆĚÜîĊĚÙŠćĔßšÝŠć÷ìĊęđÖĊę÷ü×šĂÜÖĆïñúðøąē÷ßîŤóîĆÖÜćîÝąøĆïøĎšĔîÜïÖĞćĕø×ćéìčîđïĘéđÿøĘÝ đóČĂę ÖøąÝć÷êšîìčîéĆÜÖúŠćüêúĂéøą÷ąđüúć×ĂÜÖćøÝšćÜÜćî ñúÖĞćĕøĒúą×ćéìčîÝćÖÖćøđðúĊ÷ę îĒðúÜ×šĂÿööêĉåćî ïøĉþìĆ ĒúąïøĉþĆì÷ŠĂ÷ÝąøĆïøĎšĔîÖĞćĕø×ćéìčîđïĘéđÿøĘÝĂČęîđöČęĂđÖĉéøć÷Öćø 3.24 ÖćøĔßšðøąöćèÖćøìćÜïĆâßĊ ĔîÖćøÝĆéìĞćÜïÖćøđÜĉîđóČęĂĔĀšđðŨîĕðêćöĀúĆÖÖćøïĆâßĊìĊęøĆïøĂÜìĆęüĕð ñĎšïøĉĀćøêšĂÜĔßšÖćøðøąöćèÖćøĒúą×šĂÿööêĉåćî Āúć÷ðøąÖćø àċęÜöĊñúÖøąìïêŠĂÝĞćîüîđÜĉîìĊęđÖĊę÷üÖĆïøć÷ĕéš ÙŠćĔßšÝŠć÷ ÿĉîìøĆó÷Ť ĀîĊĚÿĉî ĒúąÖćøđðŗéđñ÷×šĂöĎúđÖĊę÷üÖĆï ÿĉîìøĆó÷ŤĒúąĀîĊĚÿĉîìĊęĂćÝÝąđÖĉé×ċĚî àċęÜñúìĊęđÖĉé×ċĚîÝøĉÜĂćÝĒêÖêŠćÜÝćÖÝĞćîüîìĊęĕéšðøąöćèÖćøĕüš

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đÜĉîòćÖÖøąĒÿøć÷üĆî đÜĉîòćÖĂĂöìøĆó÷Ť đÜĉîòćÖðøąÝĞćðøąđõì 3 đéČĂî øüö

2554

งบการเงินเฉพาะของบริษัท 2555

2554

26 ,037

311,128

246,462

300,106

5,203,38 138,355,273 88,674,752 232,502,451

3,263,2 1 108,0 6,68 108,362,513 220,033,621

5,187,501 6,014,701 76,376,06 177,824,733

3,25 ,481 62,753,523 8 ,673,546 155, 86,656

è üĆîìĊę 31 íĆîüćÙö 2555 đÜĉîòćÖíîćÙćø×ĂÜïøĉþĆìĒúąïøĉþĆì÷ŠĂ÷ öĊéĂÖđïĊĚ÷ĔîĂĆêøćøąĀüŠćÜøšĂ÷úą 0.75 ı 2.10 êŠĂðŘ 2554 ĂĆêøćéĂÖđïĊĚ÷øąĀüŠćÜøšĂ÷úą 0.75 2.10 êŠĂðŘ

103 6. đÜĉîúÜìčîßĆęüÙøćü ĀîŠü÷ ïćì

งบการเงินรวม

đÜĉîòćÖðøąÝĞćðøąđõì 5 ı 6 đéČĂî đÜĉîúÜìčîĔîĀúĆÖìøĆó÷ŤđñČęĂ×ć÷ ı øćÙćìčî ðøĆïðøčÜÿŠüîđðúĊę÷îĒðúÜöĎúÙŠćĔîĀúĆÖìøĆó÷ŤđñČęĂ×ć÷

ÿŠüîìĊęđðŨî×ĂÜïøĉþĆì ÿŠüîìĊęđðŨî×ĂÜïøĉþĆì÷ŠĂ÷ đÜĉîúÜìčîĔîĀúĆÖìøĆó÷ŤđñČęĂ×ć÷ ı øćÙć÷čêĉíøøö

งบการเงินเฉพาะของบริษัท

2555

2554

2555

2554

32,000,000 35,045,143

37,08 ,21

32,000,000 35,045,143

35,045,143

2,085,820 6 ,130, 63

1,275,466 73,307 38,437, 2

2,085,820 6 ,130, 63

1,275,466 36,320,60

è üĆîìĊę 31 íĆîüćÙö 2555 Ēúą 2554 ïøĉþĆìĒúąïøĉþĆì÷ŠĂ÷öĊđÜĉîúÜìčîĔîÖĂÜìčîđðŗéêøćÿćøĀîĊĚĒĀŠÜĀîċęÜ àċęÜïøĉþĆìëČĂđðŨî ĀúĆÖìøĆó÷ŤđñČęĂ×ć÷ ĒúąĒÿéÜđðŨîÿŠüîĀîċęÜ×ĂÜÿĉîìøĆó÷ŤĀöčîđüĊ÷îéšü÷öĎúÙŠć÷čêĉíøøö îĂÖÝćÖîĊĚ è üĆîìĊę 31 íĆîüćÙö 2555 ïøĉþĆìúÜìčîĔîđÜĉîòćÖðøąÝĞć àċęÜöĊĂĆêøćéĂÖđïĊĚ÷øšĂ÷úą 3.50 êŠĂðŘ ĔîøąĀüŠćÜðŘ ïøĉþĆìöĊøć÷ÖćøđÙúČęĂîĕĀü×ĂÜđÜĉîúÜìčîßĆęüÙøćüéĆÜêŠĂĕðîĊĚ ĀîŠü÷ ïćì

งบการเงินรวม

øćÙćêćöïĆâßĊ è üĆîìĊę 1 öÖøćÙö 2555 đÜĉîòćÖðøąÝĞćðøąđõì 5 đéČĂî đÜĉîòćÖðøąÝĞćðøąđõì 6 đéČĂî ÿŠüîðøĆïðøčÜöĎúÙŠćĔîĀúĆÖìøĆó÷ŤđñČęĂ×ć÷ ×ć÷đÜĉîúÜìčîĔîĀúĆÖìøĆó÷ŤđñČęĂ×ć÷ øĆïøĎšÖĞćĕøìĊęđÖĉé×ċĚîÝøĉÜÝćÖÖćø×ć÷ĀúĆÖìøĆó÷ŤđñČęĂ×ć÷ øćÙćêćöïĆâßĊ è üĆîìĊę 31 íĆîüćÙö 2555

38,437, 2 15,000,000 17,000,000 810,354 2,044,076

73,307

6 ,130, 63

งบการเงินเฉพาะ ของบริษัท

36,320,60 15,000,000 17,000,000 810,354 6 ,130, 63

øć÷ÖćøìĊęøĆïøĎšĔîÜïÖĞćĕø×ćéìčîđïĘéđÿøĘÝàċęÜđÖĊę÷ü×šĂÜÖĆïđÜĉîúÜìčîßĆęüÙøćü öĊéĆÜîĊĚ ĀîŠü÷ ïćì

งบการเงินรวม 2555 2554

ñúÖĞćĕøÝćÖÖćøüĆéöĎúÙŠćđÜĉîúÜìčîĔîĀúĆÖìøĆó÷ŤđñČęĂ×ć÷

737,150

788,3 8

งบการเงินเฉพาะของบริษัท 2555 2554

810,354

744,765

104 7. úĎÖĀîĊĚÖćøÙšć ÷ĂéÙÜđĀúČĂ è üĆîìĊę 31 íĆîüćÙö 2555 Ēúą 2554 Ē÷ÖêćöĂć÷čĀîĊĚìĊęÙšćÜßĞćøąĕéšéĆÜîĊĚ ĀîŠü÷ ïćì

งบการเงินรวม อายุหนี้ค้างชําระ

úĎÖĀîĊĚÖćøÙšć ı úĎÖÙšćìĆęüĕð ÷ĆÜĕöŠëċÜÖĞćĀîéßĞćøą đÖĉîÖĞćĀîéßĞćøą

îšĂ÷ÖüŠć 3 đéČĂî 3 6 đéČĂî 6 12 đéČĂî öćÖÖüŠć 12 đéČĂî×ċĚîĕð øüö ĀĆÖ ÙŠćđñČęĂĀîĊĚÿÜÿĆ÷ÝąÿĎâ úĎÖĀîĊĚÖćøÙšć ı úĎÖÙšćìĆęüĕð ı ÿčìíĉ úĎÖĀîĊĚÖćøÙšć ïøĉþĆììĊęđÖĊę÷ü×šĂÜ ïøĉþĆì÷ŠĂ÷ ÷ĆÜĕöŠëċÜÖĞćĀîéßĞćøą đÖĉîÖĞćĀîéßĞćøą

îšĂ÷ÖüŠć 3 đéČĂî ïøĉþĆìøŠüö ÷ĆÜĕöŠëċÜÖĞćĀîéßĞćøą

2555

งบการเงินเฉพาะ ของบริษัท 2555 2554

2554

, 4 ,525 6,572,126 62,1 8,43 58,72 ,125 44,286,1 6, 68,103 2,154,260 37, 24,451 1 1,282,538 35,802,664

155,47 ,874

25,8 4,021 8,030, 51 2,101,14 3 ,240,248 171,838,4 5 37, 73,274

133,865,221

2 ,322,165 6,285,443 1, 44, 68 20,825,761 120,576,776 18, 6 , 13

101,606,863

18,665, 12 6,416,001 1,523,058 20,47 ,465 105,813,561 1 ,31 ,4 1

86,4 4,070

3 1,66

36 ,150

2,618 3 4,287

36 ,1

364,335

121, 20

ÖĉÝÖćøøŠüöÙšć

÷ĆÜĕöŠëċÜÖĞćĀîéßĞćøą đÖĉîÖĞćĀîéßĞćøą öćÖÖüŠć 12 đéČĂî×ċĚîĕð øüöúĎÖĀîĊĚÖćøÙšć ı ïøĉþĆììĊęđÖĊę÷ü×šĂÜ úĎÖĀîĊĚÖćøÙšć ı ÿčìíĉ

7,536 7,536 7,536

121, 20 121, 20 121, 20 121, 20 486,255 516,207 855,454 155,577,410 134,351,476 102,123,070 87,34 ,524

ĔîøąĀüŠćÜðŘ ïøĉþĆìöĊøć÷ÖćøđÙúČęĂîĕĀü×ĂÜÙŠćđñČęĂĀîĊĚÿÜÿĆ÷ÝąÿĎâéĆÜêŠĂĕðîĊĚ ĀîŠü÷ ïćì

งบการเงินรวม

÷ĂéÙÜđĀúČĂ è üĆîìĊę 1 öÖøćÙö 2555 ïüÖ êĆĚÜÙŠćđñČęĂđóĉęö×ċĚîøąĀüŠćÜðŘ ĀĆÖ ĀîĊĚÿĎâ ĀĆÖ ĀîĊĚÿĎâĕéšøĆïÙČî ÷ĂéÙÜđĀúČĂ è üĆîìĊę 31 íĆîüćÙö 2555

37, 73,274 1,7 3,815 22,452

3, 41, 73

35,802,664

งบการเงินเฉพาะของบริษัท

1 ,31 ,4 1 1,255,315 22,452

1,582,441

18, 6 , 13

105 8. øć÷ÖćøíčøÖĉÝÖĆïïčÙÙúĒúąÖĉÝÖćøìĊęđÖĊę÷ü×šĂÜÖĆî ïøĉþĆìöĊøć÷ÖćøíčøÖĉÝìĊęÿĞćÙĆâÖĆïïčÙÙúĒúąÖĉÝÖćøìĊęđÖĊę÷ü×šĂÜÖĆî đÖĊę÷ü×šĂÜÖĆîēé÷ÖćøöĊñĎšëČĂĀčšîĒúą ĀøČĂÖøøöÖćøĒúąÖćø ïøĉĀćøøŠüöÖĆî øć÷ÖćøíčøÖĉÝéĆÜÖúŠćüĒÿéÜĕüšĔîÜïÖćøđÜĉîêćöđÜČĂę îĕ×ĒúąđÖèæŤìêĊę ÖúÜøŠüöÖĆîøąĀüŠćÜïøĉþìĆ àċÜę đÖèæŤéÜĆ ÖúŠćü ĂćÝĒêÖêŠćÜÝćÖđÖèæŤìĊęĔßšÿĞćĀøĆïøć÷ÖćøÖĆïïøĉþĆììĊęĕöŠđÖĊę÷ü×šĂÜÖĆî ēé÷ÿćöćøëÿøčðøć÷ÖćøÿĞćÙĆâė ĕéšéĆÜîĊĚ ïøĉþĆììĊęđÖĊę÷ü×šĂÜÖĆî ïøĉþĆì üĊïĉěÖ ÝĞćÖĆé ïøĉþĆì ĕéĂĉÝĉ ÙĂøŤðĂđøßĆęî ÝĞćÖĆé öĀćßî

ïøĉþĆì ĒúîéĊĚ ēăö ÝĞćÖĆé ïøĉþĆì ĂĉîđéĘÖàŤ ÙøĊđĂìĊô üĉúđúÝ ÝĞćÖĆé öĀćßî

ïøĉþĆì éĊĕàîŤ 103 ĂĉîđêĂøŤđîßĆęîĒîú ÝĞćÖĆé ïøĉþĆì éĊĕàîŤ 103 ÝĞćÖĆé ïøĉþĆì 3 Āîčöćî ÝĞćÖĆé

รายการธุรกิจกับบุคคล และกิจการที่เกี่ยวข้องกัน

øć÷ĕéšÙŠćđßŠćðŜć÷

ïøĉþĆì÷ŠĂ÷ ïøĉþĆìøŠüö ïøĉþĆììĊęđÖĊę÷ü×šĂÜ øć÷ĕéšÙŠćîć÷Āîšć

ïøĉþĆì÷ŠĂ÷

ÙüćöÿĆöóĆîíŤ øŠüöúÜìčîĔî ïøĉþĆì ÖøĊî ĒĂé ÝĞćÖĆé ÖøøöÖćøøŠüöÖĆî ÖøøöÖćøøŠüöÖĆî øŠüöúÜìčîĔî ïøĉþĆì ĒöĘÖàŤ ÙøĊđĂìĊô ÝĞćÖĆé ĒúąÖĉÝÖćøøŠüöÙšćĂĉîđéĘÖàŤ éĊ 103 öćēÖš øŠüöúÜìčîĔî ÖĉÝÖćøøŠüöÙšć ĂĉîđéĘÖàŤ éĊ103 öćēÖš øŠüöúÜìčîĔî ÖĉÝÖćøøŠüöÙšć ĂĉîđéĘÖàŤ éĊ103 öćēÖš øŠüöúÜìčîĔî ïøĉþĆì ìćüîŤ ĒïøîéŤéĉĚÜ ÝĞćÖĆé àċęÜđðŨîïøĉþĆì÷ŠĂ÷×ĂÜ ïøĉþĆì ĒöĘÖàŤ ÙøĊđĂìĊô ÝĞćÖĆé ĀîŠü÷ úšćîïćì

งบการเงินรวม นโยบายราคา

2555

2554

øćÙćĒúąøą÷ąđüúćßĞćøąĀîĊĚĔÖúš đÙĊ÷ÜÖĆïïčÙÙúõć÷îĂÖ

0.23

0.12 0.28

øšĂ÷úą 5 ÝćÖ÷Ăé×ć÷ìĊęđÖĘï đÜĉîĕéš àċęÜĔÖúšđÙĊ÷ÜÖĆïìĊęÙĉéÖĆï ïčÙÙúõć÷îĂÖ

งบการเงินเฉพาะ ของบริษัท 2555

2554

4.07 0.23

3.88 0.12 0.28

8.78

8.36

104.00 1.40

0.30

0.3

0.70 0.05

0. 4 0.3

0.54

2.78 0.54

2.88 0.54

0.24

1.70 0.33

1.54 0.24

øć÷ĕéšđÜĉîðŦîñú

ïøĉþĆì÷ŠĂ÷ ïøĉþĆìøŠüö øć÷ĕéšÙŠćðøċÖþćĒúąïøĉÖćøìćÜïĆâßĊ

øćÙćìĊęêÖúÜøŠüöÖĆî

ïøĉþĆì÷ŠĂ÷ ïøĉþĆìøŠüö øć÷ĕéšÙŠćđßŠćÿĞćîĆÖÜćî

0.05 øćÙćêúćé

ïøĉþĆì÷ŠĂ÷ ïøĉþĆìøŠüö øć÷ĕéšĂČęî

ïøĉþĆì÷ŠĂ÷ ïøĉþĆìøŠüö

0.54

êćöøćÙćìčî

0.33

106 ĀîŠü÷ úšćîïćì

งบการเงินรวม

รายการธุรกิจกับบุคคล และกิจการที่เกี่ยวข้องกัน

êšîìčîÖćøĔĀšïøĉÖćø

นโยบายราคา

2554

2555

2554

15.15 0.46

10.50 0.76

1.22 14.62 0.46

4.0 10.05 0.76

0.0

12.72

12.60

0.10 12.71

0.02 12.60

38. 0 0.41 0.02

28.77 0.3 0.02

32.36 0.38 0.02

24.88 0.36 0.02

0.17

0.16

0.17

0.15

êćöøćÙćìčî

ïøĉþĆì÷ŠĂ÷ ÙŠćĔßšÝŠć÷ĔîÖćøïøĉĀćø

2555

êćöøćÙćìčî

ïøĉþĆì÷ŠĂ÷ ïøĉþĆìøŠüö ïøĉþĆììĊęđÖĊę÷ü×šĂÜ ÙŠćĔßšÝŠć÷ĔîÖćø×ć÷

งบการเงินเฉพาะ ของบริษัท

êćöøćÙćìčî

ïøĉþĆì÷ŠĂ÷ ïøĉþĆìøŠüö ñĎšïøĉĀćøÿĞćÙĆâ ñúðøąē÷ßîŤøą÷ąÿĆîĚ ×ĂÜóîĆÖÜćî ÙŠćđñČęĂñúðøąē÷ßîŤĀúĆÜĂĂÖÝćÖÜćî ÙŠćđñČęĂñúðøąē÷ßîŤøą÷ą÷ćüĂČęîė êšîìčîìćÜÖćøđÜĉî

ñĎšïøĉĀćøÿĞćÙĆâ

÷ĂéÙÜđĀúČĂ×ĂÜøć÷Öćø×šćÜêšî è üĆîìĊę 31 íĆîüćÙö 2555 Ēúą 2554 ĕéšĒÿéÜĒ÷ÖêŠćÜĀćÖĔîÜïĒÿéÜåćîąÖćøđÜĉîõć÷Ĕêš øć÷ÖćøéĆÜêŠĂĕðîĊĚ ĀîŠü÷ ïćì

งบการเงินรวม

งบการเงินเฉพาะ ของบริษัท

2555

2554

2555

2554

3 4,287

36 ,1

364,335

121, 20

486,255

516,207

855,454

úĎÖĀîĊĚÖćøÙšć ı ïøĉþĆììĊęđÖĊę÷ü×šĂÜ ïøĉþĆì÷ŠĂ÷

ïøĉþĆì öćÿđêĂøŤ ĒĂîéŤ öĂøŤ ÝĞćÖĆé ïøĉþĆìøŠüö

ïøĉþĆì ĒöĘÖàŤ ÙøĊđĂìĊô ÝĞćÖĆé ÖĉÝÖćøøŠüöÙšć

ÖĉÝÖćøøŠüöÙšć ĂĉîđéĘÖàŤ éĊ 103 öćēÖš ÷ĂéÙÜÙšćÜĒúąÿŠüî×ĂÜñĎšøŠüöÙšćĔîÖĉÝÖćøøŠüöÙšć

ÖĉÝÖćøøŠüöÙšć ĂĉîđéĘÖàŤ éĊ 103 öćēÖš øüö

7,536 7,536

107 ĀîŠü÷ ïćì

งบการเงินรวม

งบการเงินเฉพาะของบริษัท

2555

2554

2555

2554

2,787,356 171,523 47,822 3,006,701

42,865 430,083 82,334 1,455,282

úĎÖĀîĊĚĂČęî ïøĉþĆììĊęđÖĊę÷ü×šĂÜ ïøĉþĆì÷ŠĂ÷

ïøĉþĆì öćÿđêĂøŤ ĒĂîéŤ öĂøŤ ÝĞćÖĆé ïøĉþĆì öćēÖš ĕøìŤàć÷îŤ ÝĞćÖĆé ïøĉþĆì ÖøĊî ĒĂé ÝĞćÖĆé ïøĉþĆìøŠüö

ïøĉþĆì ĂĉÜÙŤđÝĘì ĂĉöđöÝđÝÿ ðøąđìýĕì÷ ÝĞćÖĆé ïøĉþĆì đìÙ Ăą účÙ ÝĞćÖĆé

3,34 3,363 6,712

0,274 3,46 3,743

3,34 3,363 6,712

0,274 3,46 3,743

øüö

6,712

3,743

3,103,413

1,54 ,025

ÙŠćĔßšÝŠć÷ÝŠć÷úŠüÜĀîšćïøĉþĆììĊęđÖĊę÷ü×šĂÜ ïøĉþĆìđÖĊę÷ü×šĂÜ

ïøĉþĆì ĂĉîđéĘÖàŤ ÙøĊđĂìĊô üĉúđúÝ ÝĞćÖĆé öĀćßî

846,552

4 5,000

53, , 46

2,170,448 2,656 2,173,104

1,082,55 0,736 1,173,2 5

đÜĉîĔĀšÖĎš÷ČöĒÖŠïøĉþĆììĊęđÖĊę÷ü×šĂÜ ïøĉþĆìøŠüö

ïøĉþĆì đìÙ Ăą účÙ ÝĞćÖĆé đÜĉîðŦîñúÙšćÜøĆï ïøĉþĆì÷ŠĂ÷

ïøĉþĆì öćÿđêĂøŤ ĒĂîéŤ öĂøŤ ÝĞćÖĆé

đÝšćĀîĊĚÖćøÙšć ïøĉþĆììĊęđÖĊę÷ü×šĂÜ ïøĉþĆì÷ŠĂ÷

ïøĉþĆì öćÿđêĂøŤ ĒĂîéŤ öĂøŤ ÝĞćÖĆé ïøĉþĆì öćēÖš ĕøìŤàć÷îŤ ÝĞćÖĆé ïøĉþĆìøŠüö

ïøĉþĆì ĂĉÜÙŤđÝĘì ĂĉöđöÝđÝÿ ðøąđìýĕì÷ ÝĞćÖĆé

5,27 ,678

7,508,1 4

5,050,052

7,415,541

5,27 ,678

27,135 530,526 557,661 8,065,855

7,223,156

530,526 530,526 ,11 ,362

ïøĉþĆììĊęđÖĊę÷ü×šĂÜ

ïøĉþĆì üĊïĉěÖ ÝĞćÖĆé ïøĉþĆì ĒúîéĊĚ ēăö ðøąđìýĕì÷ ÝĞćÖĆé øüö

108 ĀîŠü÷ ïćì

งบการเงินรวม

งบการเงินเฉพาะ ของบริษัท

2555

2554

2555

2554

287, 33

575,867

4,406 2,111 6,517

15,408 8,1 6 23,604

154,4 0 6,000 250,4 0

5 ,85 20 , 60 26 ,81

130,840 6,000 226,840

5 ,85 20 , 60 26 ,81

26 ,81

323,357

2 3,423

øć÷ĕéšøĆïúŠüÜĀîšć ïøĉþĆììĊęđÖĊę÷ü×šĂÜ ïøĉþĆì÷ŠĂ÷

ïøĉþĆì öćÿđêĂøŤ ĒĂîéŤ öĂøŤ ÝĞćÖĆé đÝšćĀîĊĚÙŠćĀčšî ı ïøĉþĆììĊęđÖĊę÷ü×šĂÜ ïøĉþĆì÷ŠĂ÷

ïøĉþĆì öćÿđêĂøŤ ĒĂîéŤ öĂøŤ ÝĞćÖĆé ïøĉþĆì öćēÖš ĕøìŤàć÷îŤ ÝĞćÖĆé ïøĉþĆìøŠüö

ïøĉþĆì ĂĉÜÙŤđÝĘì ĂĉöđöÝđÝÿ ðøąđìýĕì÷ ÝĞćÖĆé ïøĉþĆì ĒúîéĊĚ éĊđüúúĂðđöšîìŤ ÝĞćÖĆé ïøĉþĆììĊęđÖĊę÷ü×šĂÜ

ïøĉþĆì üĊïĉěÖ ÝĞćÖĆé ïøĉþĆì ĂĉîđéĘÖàŤ ÙøĊđĂìĊô üĉúđúÝ ÝĞćÖĆé öĀćßî

øüö

15,365 17,548 32, 13 283,403

2,000,000

ÿĞćøĂÜĀîĊĚÿĉîñúðøąē÷ßîŤóîĆÖÜćî ñĎšïøĉĀćøÿĞćÙĆâ ñúðøąē÷ßîŤĀúĆÜĂĂÖÝćÖÜćî ñúðøąē÷ßîŤøą÷ą÷ćü

5,071,771 148,135

4,4 1,2 8 117,567

4,8 2,815 103,558

4,346,132 81,834

đÜĉîĔĀšÖĎš÷ČöĒÖŠïøĉþĆì đìÙ Ăą účÙ ÝĞćÖĆé Ēúą ïøĉþĆì ĒúîéĊĚ éĊđüúúĂðđöšîìŤ ÝĞćÖĆé đðŨîđÜĉîÖĎš÷ČöìĊęĕöŠöĊĀúĆÖðøąÖĆî ÙĉééĂÖđïĊĚ÷Ĕî ĂĆêøćøšĂ÷úą M-3 1 êŠĂðŘ ĒúąĂĆêøćÙÜìĊęøšĂ÷úą 2 êŠĂðŘ êćöúĞćéĆï ĒúąöĊÖĞćĀîéßĞćøąÙČîđöČęĂìüÜëćö đÜĉîÖĎš÷Čöøą÷ąÿĆĚîÝćÖïøĉþĆììĊęđÖĊę÷ü×šĂÜÖĆî đðŨîđÜĉîÖĎš÷ČöìĊęĕöŠöĊĀúĆÖðøąÖĆî ÙĉééĂÖđïĊĚ÷ĔîĂĆêøćøšĂ÷úą 5.25 êŠĂðŘ ĒúąöĊÖĞćĀîé ßĞćøąÙČîõć÷Ĕîøą÷ąđüúćĂĆîĔÖúš

109 9. ÿĉîÙšćÙÜđĀúČĂ ĀîŠü÷ ïćì

งบการเงินรวม

ÜćîøąĀüŠćÜìĞć ÿĉîÙšćÿĞćđøĘÝøĎð

øüö

งบการเงินเฉพาะ ของบริษัท

2555

2554

2555

2554

5,084,261 3,287,766 8,372,027

3,634,613 3,555,2 0 7,18 , 03

4,871,281 2,674 5,863, 55

3,634,613 7,1 4,631,812

10. ÿĉîìøĆó÷ŤĀöčîđüĊ÷îĂČęî ÿčìíĉ ĀîŠü÷ ïćì

งบการเงินรวม

งบการเงินเฉพาะ ของบริษัท

2555

2554

2555

2554

đÜĉîìéøĂÜÝŠć÷ õćþĊàČĚĂàċęÜ×ĂÙČîĕéš úĎÖĀîĊĚĂČęî ÙŠćđßŠćÝŠć÷úŠüÜĀîšć ÙŠćÿĉìíĉĔîÖćøĔßšóČĚîìĊęēÛþèćÝŠć÷úŠüÜĀîšć

1,6 7,25 4,4 7,485 6, 3,3 4 ,853,87

3,63 , 0 5, 07,868 5,852, 25 11, 70,706

1,308,620 3,074,447 6, 01,2 8 4,870, 05

2, 02,058 3,761,436 5,038,038 5,658,440

ìĊęÝąêĆéđðŨîÙŠćĔßšÝŠć÷õć÷Ĕî 1 ðŘ

2,158,486 , 20,646 35,121,14 845, 00

34,275,24

3,163,3 4 7,788,826 38,323,70 38,323,70

7,208,101 23,363,371 450,000

22, 13,371

6,324,587 23,684,55 23,684,55

ĂČęîė

øüö ĀĆÖ ÙŠćđñČęĂĀîĊĚÿÜÿĆ÷ÝąÿĎâ×ĂÜúĎÖĀîĊĚĂČęî

ÿčìíĉ 11. đÜĉîúÜìčîĔîïøĉþĆì÷ŠĂ÷ĒúąïøĉþĆìøŠüö ÿčìíĉ

ĀîŠü÷ óĆîïćì

งบการเงินรวม สัดส่วนเงินลงทุน

ราคาทุน

วิธีส่วนได้เสีย

(ร้อยละ) ทุน ประเภทกิจการ

đÜĉîúÜìčîĔîïøĉþĆìøŠüö ïøĉþĆì ĂĉÜÙŤđÝĘì ĂĉöđöÝđÝÿ ðøąđìýĕì÷ ÝĞćÖĆé ïøĉþìĆ ĒúîéĊĚ éĊđüúúĂðđöîìŤ ÝĞćÖĆé ïøĉþĆì đìÙ Ăą účÙ ÝĞćÖĆé ïøĉþĆì ĒöĘÖàŤ ÙøĊđĂìĊô ÝĞćÖĆé

ñúĉ ê ēÛþèć ĒúąÝĆ é ìĞ ć ðŜć÷ēÛþèćìčÖðøąđõì ĔĀšïøĉÖćøđßŠćĂćÙćø ÿĞćîĆÖÜćî ĔĀšïøĉÖćøÿČęĂēÛþèć ñúĉêĒúąĔĀšïøĉÖćø ÿČęĂēÛþèć

øüöđÜĉîúÜìčîĔîïøĉþĆìøŠüö

ชําระแล้ว

2555

2554

2555

2,485

2554

2555

2554

6,000

33.34

2,485 11,323 11,245

40,000

48.87

48.87 16,4 5 16,4 5 23,303 21,145

75,000 5,000

33.33 50.00

33.33 25,000 25,000 50.00 2,500 2,500

145

46,480 46,480 34,626 32,535

110 è üĆîìĊę 14 öĊîćÙö 2555 ïøĉþĆì ĒöĘÖàŤ ÙøĊđĂìĊô ÝĞćÖĆé ĕéšøŠüöúÜìčîÖĆïïøĉþĆì 3 Āîčöćî ÝĞćÖĆé ĔîÿĆéÿŠüîøšĂ÷úą 70 30 đóČęĂ ÝĆéêĆĚÜïøĉþĆì ìćüîŤ ĒïøîéŤéĉĚÜ ÝĞćÖĆé ìčîÝéìąđïĊ÷î 5 úšćîïćì đóČęĂéĞćđîĉîÖćøñúĉêĒúąĔĀšïøĉÖćøÿČęĂēÛþèć ĀîŠü÷ óĆîïćì

งบการเงินเฉพาะ ของบริษัท สัดส่วนเงินลงทุน

ราคาทุน

(ร้อยละ) ทุน ประเภทกิจการ

đÜĉîúÜìčîĔîïøĉþĆì÷ŠĂ÷ ïøĉþĆì öćÿđêĂøŤ ĒĂîéŤ öĂøŤ ÝĞćÖĆé ïøĉþĆì öćēÖš ĕøìŤàć÷îŤ ÝĞćÖĆé ïøĉþĆì ÖøĊî ĒĂé ÝĞćÖĆé

ชําระแล้ว 2555

ñúĉêĒúąĔĀšïøĉÖćøÿČęĂēÛþèć ÖúćÜĒÝšÜ ñúĉêĒúąÝĞćĀîŠć÷ĂčðÖøèŤĕêøüĉßĆęî ïøĉÖćøĒúąøĆïÝšćÜñúĉêÿČęĂēÛþèć ĒñÜñîĆÜêšîĕöš

2554

20,000 100.00 100.00 74,54 74,54 5,000 80.00 80.00 4,000 4,000 5,000

51.00

6,000 40,000 75,000 5,000

33.34 48.87 33.33 50.00

33.34 2,485 2,485 48.87 16,4 5 16,4 5 33.33 25,000 25,000 50.00 2,500 2,500 46,480 46,480 25,000 25,000

21,480 21,480

øüöđÜĉîúÜìčîĔîïøĉþĆì÷ŠĂ÷ ïøĉþĆìøŠüö ïøĉþĆì ĂĉÜÙŤđÝĘì ĂĉöđöÝđÝÿ ñúĉê ēÛþèć ĒúąÝĆéìĞćðŜć÷ēÛþèć ðøąđìýĕì÷ ÝĞćÖĆé ìčÖðøąđõì ïøĉþĆì ĒúîéĊĚ éĊđüúúĂðđöîìŤ ÝĞćÖĆé ĔĀšïøĉÖćøđßŠćĂćÙćøÿĞćîĆÖÜćî ïøĉþĆì đìÙ Ăą účÙ ÝĞćÖĆé ĔĀšïøĉÖćøÿČęĂēÛþèć ïøĉþĆì ĒöĘÖàŤ ÙøĊđĂìĊô ÝĞćÖĆé ñúĉêĒúąĔĀšïøĉÖćøÿČęĂēÛþèć øüöđÜĉîúÜìčîĔîïøĉþĆìøŠüö ĀĆÖ ÙŠćđñČęĂÖćøéšĂ÷ÙŠć×ĂÜđÜĉîúÜìčîĔîïøĉþĆì đìÙ Ăą účÙ ÝĞćÖĆé đÜĉîúÜìčîĔîïøĉþĆìøŠüö ÿčìíĉ

2555

2,550 2,550 81,0 81,0

ĔîøąĀüŠćÜðŘÿĉĚîÿčéüĆîìĊę 31 íĆîüćÙö 2555 Ēúą 2554 ïøĉþĆìöĊøć÷ÖćøđÙúČęĂîĕĀü×ĂÜđÜĉîúÜìčîĔîïøĉþĆìøŠüöéĆÜêŠĂĕðîĊĚ ĀîŠü÷ ïćì

งบการเงินรวม 2555

øćÙćêćöïĆâßĊêšîðŘ àČĚĂđÜĉîúÜìčîđóĉęö ÿŠüîĒïŠÜÖĞćĕøÝćÖđÜĉîúÜìčîêćöüĉíĊÿŠüîĕéšđÿĊ÷ ÿŠüîĒïŠÜ×ćéìčîÝćÖđÜĉîúÜìčîêćöüĉíĊÿŠüîĕéšđÿĊ÷ øć÷ÖćøðøĆïðøčÜ×ćéìčîÝćÖÖćøúÜìčî

ìĊę÷ĆÜĕöŠđÖĉé×ċĚîÝøĉÜĔîđÜĉîúÜìčî øć÷ĕéšđÜĉîðŦîñú øć÷ÖćøéšĂ÷ÙŠć×ĂÜđÜĉîúÜìčî øćÙćêćöïĆâßĊÿĉĚîðŘ

2554

งบการเงินเฉพาะ ของบริษัท 2555

2554

32,535,3 1 3,636,311 145,667

2 ,222,754 2,500,000 3,587,402 2,474, 81

21,47 ,475

1 ,101,176 2,500,000

103 1,3 , 3

34,626,145

215 2 ,

32,535,3 1

21,47 ,475

121,701

21,47 ,475

111 ×šĂöĎúìćÜÖćøđÜĉîìĊęÿĞćÙĆâ×ĂÜïøĉþĆìøŠüö ÿøčðĕéšéĆÜîĊĚ ĀîŠü÷ ïćì

สําหรับปีสิ้นสุดวันที่ 31 ธันวาคม

ÿĉîìøĆó÷Ť ĀîĊĚÿĉî øć÷ĕéš ÖĞćĕø ÿčìíĉ

2555

2554

162,4 6,102 78,2 5,808 0,25 , 71 7,460,403

158,544, 33 83,176,350 60,485,18 3,33 ,255

12. đÜĉîòćÖíîćÙćøìĊęöĊ×šĂÝĞćÖĆéĔîÖćøĔßš è üĆîìĊę 31 íĆîüćÙö 2555 Ēúą 2554 ïøĉþĆìĒúąïøĉþĆì÷ŠĂ÷öĊđÜĉîòćÖíîćÙćø ÿĞćĀøĆïÜïÖćøđÜĉîøüö öĊÝĞćîüî 6.45 úšćîïćì Ēúą 5.65 úšćîïćì êćöúĞćéĆï Ēúą ÿĞćĀøĆïÜïÖćøđÜĉîđÞóćą×ĂÜïøĉþĆì öĊÝĞćîüî 2.45 úšćîïćì Ēúą 2.44 úšćîïćì êćöúĞćéĆïìĊęêĉéõćøąÙĞĚćðøąÖĆîÖćøĂĂÖĀîĆÜÿČĂÙĞĚćðøąÖĆîēé÷íîćÙćøÿĞćĀøĆïïøĉþĆìĒúąïøĉþĆì÷ŠĂ÷ 13. ĂćÙćøĒúąĂčðÖøèŤ ı ÿčìíĉ ĀîŠü÷ ïćì

งบการเงินรวม 2554

ĂćÙćøĒúąĂčðÖøèŤ øćÙćìčî ĂćÙćø ÙŠćêÖĒêŠÜĒúąđÙøČęĂÜĔßšÿĞćîĆÖÜćî đÙøČęĂÜöČĂĒúąĂčðÖøèŤ ÷ćîóćĀîą ēÙøÜðŜć÷ ÿČęĂēÛþèćĂČęîė ÜćîøąĀüŠćÜìĞć ĂČęîė

øüö ÙŠćđÿČęĂöøćÙćÿąÿö ĂćÙćø ÙŠćêÖĒêŠÜĒúąđÙøČęĂÜĔßšÿĞćîĆÖÜćî đÙøČęĂÜöČĂĒúąĂčðÖøèŤ ÷ćîóćĀîą ēÙøÜðŜć÷ ÿČęĂēÛþèćĂČęîė ĂČęîė

øüö ĂćÙćøĒúąĂčðÖøèŤ ÿčìíĉ

เพิ่มขึ้น

ลดลง

โอน

2555

4,742,161 50,107, 6 750,0 3,608,167 4,65 ,350 58,067 148,200 8,1 5,662 625,2 2 65,330 204, 64,3 1 1 0,070 5,318,1 5,887,870 434, 80 68,806,546 ,7 7,825 3,553,070 6 5,617 350, 17,01 11,856,333 10,735,513

61,636,0 8 6 ,770,638

8,134,540

4,742,161 47,24 , 01 4,56 ,217 7,855,624 261,472,360 6,322,850 8,833,733 2,857,453 343, 03,2

1,777,778 237,108 41,568, 3 3,182, 54 3,543,230 4,501,362 65,56 115,5 8 7,363,378 287, 35 65,328 201,418, 74 10,11 ,528 5,318,1 1 3, 15,655 1,102,017 3,140, 52 210, 42 635,613 263,687,038 15,206,053 10,577, 60

2,014,886 41,208,663 4,451,333 6,685, 85 206,220,311 5,017,672 2,716,281 268,315,131

87,22 , 81

75,588,168

112 ĀîŠü÷ ïćì

งบการเงินเฉพาะของบริษัท 2554

เพิ่มขึ้น

ลดลง

40,865,047 1, 58,368 6,0 6, 62 133,373,14 5,887,86 8,134,540 3,465,070 1 ,781,005

6 ,386 167,000 434, 81 1,301,367

3,386,707 148,200 5,318,1 6 5,617 ,548,723

øüö

33,44 ,383 1,81 ,307 5,286,216 131,765,27 3, 15,656 3,123,351 17 ,35 ,1 2

2,786,228 4 ,840 261, 37 1,138,621 1,102,016 1 3,342 5,531, 84

3,321,776 115,5 8 5,318,1 1 635,612 ,3 1,177

ĂčðÖøèŤ ı ÿčìíĉ

20,421,813

ĂčðÖøèŤ ı øćÙćìčî ÙŠćêÖĒêŠÜĒúąđÙøČęĂÜĔßšÿĞćîĆÖÜćî đÙøČęĂÜöČĂĒúąĂčðÖøèŤ ÷ćîóćĀîą ēÙøÜðŜć÷ ÿČęĂēÛþèćĂČęîė ÜćîøąĀüŠćÜìĞć ĂČęîė

øüö ÙŠćđÿČęĂöøćÙćÿąÿö ÙŠćêÖĒêŠÜĒúąđÙøČęĂÜĔßšÿĞćîĆÖÜćî đÙøČęĂÜöČĂĒúąĂčðÖøèŤ ÷ćîóćĀîą ēÙøÜðŜć÷ ÿČęĂēÛþèćĂČęîė ĂČęîė

โอน

8,134,540

2555

38,177,726 1,810,168 6,0 6, 62 128,221, 50 6,322,850 2,76 ,453 183,3 ,10 32, 13,835 1,753,54 5,548,153 127,585,70 5,017,672 2,681,081 175,4 , 7,8 ,110

ÙŠćđÿČęĂöøćÙćìĊęøĆïøĎšĔîÜïÖĞćĕø×ćéìčîđïĘéđÿøĘÝ öĊéĆÜîĊĚ ĀîŠü÷ ïćì

งบการเงินรวม

êšîìčîÖćøĔĀšïøĉÖćøĒúąÝćÖÖćø×ć÷ ÙŠćĔßšÝŠć÷ĔîÖćøïøĉĀćø øüö

งบการเงินเฉพาะ ของบริษัท

2555

2554

2555

2554

10, 0,234 4,215,81 15,206,053

,688,484 4,862,681 14,551,165

2,00 ,328 3,522,656 5,531, 84

5,816,318 3,875,40 ,6 1,727

è üĆîìĊę 31 íĆîüćÙö 2555 Ēúą 2554 øćÙćêćöïĆâßĊÖŠĂîĀĆÖÙŠćđÿČęĂöøćÙćÿąÿö×ĂÜĂčðÖøèŤàċęÜĀĆÖÙŠćđÿČęĂöøćÙćìĆĚÜÝĞćîüîĒúšü ĒêŠ÷ĆÜÙÜĔßšÜćîĂ÷ĎŠÿĞćĀøĆïÜïÖćøđÜĉîøüööĊÝĞćîüîđÜĉî 237.5 úšćîïćì Ēúą 232.10 úšćîïćì êćöúĞćéĆï ĒúąÿĞćĀøĆïÜïÖćøđÜĉî đÞóćąïøĉþĆì öĊÝĞćîüîđÜĉîðøąöćè 168.35 úšćîïćì Ēúą 162.48 úšćîïćì êćöúĞćéĆï è üĆîìĊę 31 íĆîüćÙö 2555 Ēúą 2554 ïøĉþĆìĒúąïøĉþĆì÷ŠĂ÷öĊÿĉîìøĆó÷ŤïîÿĉìíĉÖćøđßŠć øćÙćêćöïĆâßĊ ÝĞ ćîüî 247.71 úšćîïćì Ēúą 180.44 úšćîïćì êćöúĞćéĆï ĒúąÿĞćĀøĆïÜïÖćøđÜĉîđÞóćąïøĉþĆì öĊÝĞćîüî 126.64 úšćîïćì Ēúą 121.24 úšćîïćì êćöúĞćéĆï ïøĉþĆìĒúąïøĉþĆì÷ŠĂ÷ÝąêšĂÜìĞćÖćøøČĚĂëĂîìøĆó÷ŤÿĉîĂĂÖÝćÖÿĉìíĉÖćøđßŠćĀøČĂ×ć÷ĔîøćÙćêćöìĊęêÖúÜÖĆî đöČęĂÿĉĚîÿčéÿĆââćđßŠćĒúšü

113 14. ÙĂöóĉüđêĂøŤēðøĒÖøö ı ÿčìíĉ ĀîŠü÷ ïćì

งบการเงินรวม 2554

ÙĂöóĉüđêĂøŤēðøĒÖøö ı øćÙćìčî ÙĂöóĉüđêĂøŤēðøĒÖøö ÙĂöóĉüđêĂøŤēðøĒÖøöøąĀüŠćÜÖćøóĆçîć

øüö ÙŠćêĆéÝĞćĀîŠć÷ÿąÿö ÙĂöóĉüđêĂøŤēðøĒÖøö

øüö ÙĂöóĉüđêĂøŤēðøĒÖøö ı ÿčìíĉ

เพิ่มขึ้น

ลดลง

โอน

2555

,45 ,01 255,000 ,714,01

5,872,608 5,872,608 3,841,411

1,612,704 1,612,704

7,485,312 7,485,312 2,228,707 ĀîŠü÷ ïćì

งบการเงินเฉพาะของบริษัท 2554

ÙĂöóĉüđêĂøŤēðøĒÖøö ı øćÙćìčî ÙĂöóĉüđêĂøŤēðøĒÖøö ÙĂöóĉüđêĂøŤēðøĒÖøöøąĀüŠćÜÖćøóĆçîć

øüö ÙŠćêĆéÝĞćĀîŠć÷ÿąÿö ÙĂöóĉüđêĂøŤēðøĒÖøö

øüö ÙĂöóĉüđêĂøŤēðøĒÖøö ı ÿčìíĉ

เพิ่มขึ้น

ลดลง

โอน

2555

8,578, 42 255,000 8,833, 42

5,065,436 5,065,436 3,768,506

1,586,123 1,586,123

8,578, 42 255,000 8,833, 42 6,651,55 6,651,55 2,182,383

ÙŠćêĆéÝĞćĀîŠć÷ÿĞćĀøĆïðŘÿĉĚîÿčéüĆîìĊę 31 íĆîüćÙö 2555 Ēúą 2554 ÿĞćĀøĆïÜïÖćøđÜĉîøüööĊÝĞćîüîđÜĉîðøąöćè 1.61 úšćîïćì Ēúą 1.16 úšćîïćì êćöúĞćéĆï ĒúąÿĞćĀøĆïÜïÖćøđÜĉîđÞóćąïøĉþĆì öĊÝĞćîüîđÜĉîðøąöćè 1.5 úšćîïćì Ēúą 1.10 úšćîïćì êćöúĞćéĆï àċęÜĒÿéÜĔîÜïÖĞćĕø×ćéìčîđïĘéđÿøĘÝÿŠüî×ĂÜÙŠćĔßšÝŠć÷ĔîÖćøïøĉĀćø 15. ĂčðÖøèŤÙÜđĀúČĂøĂÖćøĔßšÜćî ĀîŠü÷ ïćì

งบการเงินรวม

ĂčðÖøèŤĕêøüĉßĆęî ēÙøÜđĀúĘÖĒúąĂúĎöĉđîĊ÷ö ĂČęîė øüö

งบการเงินเฉพาะ ของบริษัท

2555

2554

2555

2554

,714,070 1,357,65 1,464,324 12,536,053

,633,455 14,435, 68 1,54 ,606 25,61 ,02

11,254,656 1,357,658 5 ,242 13,211,556

11,174,040 14,435, 68 60 , 53 26,21 , 61

øąĀüŠćÜðŘ 2555 ïøĉþìĆ ×ć÷ĂčðÖøèŤÙÜđĀúČĂøĂÖćøĔßšÜćî ÝĞćîüî 13 úšćîïćì ĔĀšÖïĆ ïøĉþìĆ 2 ĒĀŠÜ éšü÷øćÙćĔÖúšđÙĊ÷ÜÖĆïøćÙćìčî

114 è üĆîìĊę 31 íĆîüćÙö 2555 òść÷ïøĉĀćø×ĂÜïøĉþìĆ ðøąđöĉîöĎúÙŠćøćÙćêćöïĆâßĊ×ĂÜĂčðÖøèŤÙÜđĀúČĂøĂÖćøĔßšÜćîÖĆïøćÙćđÿîĂ×ć÷ úŠćÿčéìĊęöĊúĆÖþèąđìĊ÷ïđÙĊ÷ÜÖĆîÝćÖñĎšÝĞćĀîŠć÷ àċęÜóïüŠć øćÙćđÿîĂ×ć÷úŠćÿčéÿĎÜÖüŠćøćÙćìčîêćöïĆâßĊ ñĎšïøĉĀćø×ĂÜïøĉþĆìÝċÜ đßČęĂöĆęîüŠćĂčðÖøèŤéĆÜÖúŠćü÷ĆÜĕöŠêšĂÜöĊÖćøóĉÝćøèćéšĂ÷ÙŠć 16. ĂÿĆÜĀćøĉöìøĆó÷ŤđóČęĂÖćøúÜìčî è üĆîìĊę 31 íĆîüćÙö 2555 Ēúą 2554 ĂÿĆÜĀćøĉöìøĆó÷ŤđóČęĂÖćøúÜìčîĕéšĒÖŠìĊęéĉîìĊęĕöŠĕéšĔßšĔîÖćøéĞćđîĉîÜćî öĎúÙŠć 35.32 úšćîïćì ēé÷öĊöĎúÙŠć÷čêĉíøøöðøąđöĉîêćöüĉíĊđðøĊ÷ïđìĊ÷ïøćÙćêúćéēé÷ñĎšðøąđöĉîĂĉÿøą è üĆîìĊę 12 Ēúą 13 öÖøćÙö 2553 ÝĞćîüî 64. 2 úšćîïćì ïøĉþìĆ ĕéšÝéÝĞćîĂÜìĊéę îĉ éĆÜÖúŠćüĕüšÖïĆ íîćÙćøóćèĉß÷ŤĒĀŠÜĀîċÜę đóČĂę ĔßšđðŨîĀúĆÖðøąÖĆîÿĞćĀøĆïüÜđÜĉîđïĉÖđÖĉîïĆâßĊ êĆüĜ ÿĆââćĔßšđÜĉî ĒúąÖćøĂĂÖĀîĆÜÿČĂÙĞĚćðøąÖĆî øüöđðŨîüÜđÜĉîÿĉîđßČęĂìĆĚÜÿĉĚî 103 úšćîïćì 17. ĂčðÖøèŤĕêøüĉßĆęîÙÜđĀúČĂøĂÖćøĔßšÜćî ÿčìíĉ Ů3!ĉ/* Ģ ": ů งบการเงินรวม

ĂčðÖøèŤĕêøüĉßĆęî ĀĆÖ ÙŠćđñČęĂÖćøéšĂ÷ÙŠć ÿčìíĉ

งบการเงินเฉพาะ ของบริษัท

2555

2554

1 , 73,762 2,276,717

17,6 7,045

20,413,761 20,413,761

2555

2554

è üĆîìĊę 31 íĆîüćÙö 2555 Ēúą 2554 òść÷ïøĉĀćø×ĂÜïøĉþĆìðøąđöĉîöĎúÙŠćøćÙćêćöïĆâßĊ×ĂÜĂčðÖøèŤĕêøüĉßĆęîÙÜđĀúČĂøĂÖćø ĔßšÜćîÖĆïøćÙćđÿîĂ×ć÷ĂčðÖøèŤĕêøüĉßîĆę úŠćÿčéìĊöę úĊ ÖĆ þèąđìĊ÷ïđÙĊ÷ÜÖĆîÝćÖñĎÝš ćĞ ĀîŠć÷ òść÷ïøĉĀćøöĊĒñîÖćøĔßšĂðč ÖøèŤĕêøüĉßîĆę ìĆĚÜĀöéÖĆïēÙøÜÖćø×ĂÜÖúčŠöïøĉþĆìĔîðŘ 2556 18. ÙŠćÿĉìíĉĔîÖćøĔßšóČĚîìĊęēÛþèćÝŠć÷úŠüÜĀîšć ÿčìíĉ ĀîŠü÷ ïćì

งบการเงินรวม 2555

ÙŠćÿĉìíĉĔîÖćøĔßšóČĚîìĊęēÛþèćÝŠć÷úŠüÜĀîšć ÷ĂéÙÜđĀúČĂêšîðŘ ÝŠć÷đóĉęöøąĀüŠćÜðŘ êĆéđðŨîÙŠćĔßšÝŠć÷øąĀüŠćÜðŘ ÷ĂéÙÜđĀúČĂÿĉĚîðŘ ĀĆÖ ÿŠüîìĊęëċÜÖĞćĀîéêĆéđðŨîÙŠćĔßšÝŠć÷õć÷Ĕî 1 ðŘ ÿčìíĉ

21,8 5,053 3, 0 ,523 3,163,3 3

22,641,183 2,158,486 20,482,6 7

2554

1 ,114,6 3 4, 58, 8 2,178,62

21,8 5,053 3,163,3 4 18,731,65

งบการเงินเฉพาะ ของบริษัท 2555

2554

ÙŠćÿĉìíĉĔîÖćøĔßšóîČĚ ìĊēę ÛþèćÝŠć÷úŠüÜĀîšć đðŨîÙŠćĔßšÝćŠ ÷ÝŠć÷úŠüÜĀîšćêćöÿĆââćàċÜę öĊĂć÷čêćöÿĆââćÙÜđĀúČĂĂĊÖ 10 ðŘ ēé÷ïøĉþìĆ ÙćéüŠćÝąì÷Ă÷êĆéđðŨîÙŠćĔßšÝŠć÷ĕéšÙøïëšüîĔîðŘ 2565

115 19. ÿĉîìøĆó÷ŤĕöŠĀöčîđüĊ÷îĂČęî ÿčìíĉ ĀîŠü÷ ïćì

งบการเงินรวม

đÜĉîöĆéÝĞć ı ÿĞćĀøĆïÙŠćđßŠćēÙøÜðŜć÷ēÛþèć ÙŠćìĊęðøċÖþćÝŠć÷úŠüÜĀîšć ÙŠćĔßšÝŠć÷øĂêĆéÝŠć÷ ı ēÙøÜÖćøðŜć÷ēÛþèć úĎÖĀîĊĚÙŠćÿĉîÙšćĒúąïøĉÖćøÝćÖ×šĂêÖúÜĒúÖđðúĊę÷î ìĊęÿćöćøëĔßšÿĉìíĉĕéšđÖĉî 1 ðŘ ĂČęîė øüö ĀĆÖ ÙŠćđñČęĂĀîĊĚÿÜÿĆ÷ÝąÿĎâ×ĂÜúĎÖĀîĊĚÙŠćÿĉîÙšćĒúąïøĉÖćø ÝćÖ×šĂêÖúÜĒúÖđðúĊę÷îìĊęÿćöćøëĔßšÿĉìíĉĕéšđÖĉî 1 ðŘ ÿčìíĉ

งบการเงินเฉพาะ ของบริษัท

2555

2554

2555

2554

5,44 ,483 1,862,225

8,781,483 ,418,356 2,78 ,60

5,44 ,483

8,781,483

10,684,720 7,508,13 25,504,567

11,104,720 6,3 1,008 38,485,176

10,684,720 4,381,153 20,515,356

11,104,720 3,2 0,368 23,176,571

4,36 ,320

21,135,247

4,78 ,320

33,6 5,856

4,36 ,320

16,146,036

4,78 ,320

18,387,251

è üĆîìĊę 31 íĆîüćÙö 2555 Ēúą 2554 öĎúÙŠć×ĂÜÿčìíĉìĊęÝąĕéšøĆïÿĉîÙšćĒúąïøĉÖćøÝćÖ×šĂêÖúÜĒúÖđðúĊę÷îìĊęÿćöćøëĔßšÿĉìíĉ ĕéšđÖĉî 1 ðŘ öĊÝĞćîüîøüö 6.32 úšćîïćì ÿĉìíĉìĊęĕéšîĊĚđÖĉéÝćÖïøĉþĆìĒúÖđðúĊę÷îøć÷ĕéšÙŠćēÛþèćÖĆïÙĂîēéöĉđîĊ÷ö àċęÜïøĉþĆìÝą ĕéšøĆïēĂîÖøøöÿĉìíĉĝĔîĕêøöćÿ 2 ðŘ 2556 öĎúÙŠć÷čêĉíøøö×ĂÜÙĂîēéöĉđîĊ÷ö øćÙć×ć÷ïüÖÙŠćĔßšÝŠć÷ìćÜêøÜĔîÖćøàČĚĂ è üĆîìĊę 31 íĆîüćÙö 2555 öĊöĎúÙŠć 6.58 úšćîïćì 20. üÜđÜĉîÿĉîđßČęĂ è üĆîìĊę 31 íĆîüćÙö 2555 Ēúą 2554 ïøĉþìĆ ĒúąïøĉþìĆ ÷ŠĂ÷öĊüÜđÜĉîÿĉîđßČĂę ÿĞćĀøĆïđÜĉîđïĉÖđÖĉîïĆâßĊ êĆüĜ đÜĉîÝŠć÷ ĀîĆÜÿČĂÙĞćĚ ðøąÖĆî ×ĂÜíîćÙćø ĒúąđÜĉîÖĎš÷Čöøą÷ąÿĆĚîÝćÖÿëćïĆîÖćøđÜĉîĀúć÷ĒĀŠÜÙÜđĀúČĂ éĆÜêŠĂĕðîĊĚ Ů3!ĉ/* Ģ -Ċ:!": ů งบการเงินรวม 2555

ÝĞćîüîüÜđÜĉîÿĉîđßČęĂ üÜđÜĉîÿĉîđßČęĂÙÜđĀúČĂ

3 7.50 370.12

งบการเงินเฉพาะของบริษัท

2554

38 .65 365.62

2555

323.50 310.27

2554

324.44 314.11

üÜđÜĉîÿĉîđßČęĂ 103 úšćîïćì öĊĀúĆÖìøĆó÷ŤÙĞĚ ćðøąÖĆîđðŨîđÜĉîúÜìčîĔîĂÿĆÜĀćøĉöìøĆó÷ŤêćöĀöć÷đĀêč×šĂ 16 ÿŠüîüÜđÜĉî ÿĉîđßČęĂìĊęđĀúČĂðúĂéõćøąÙĞĚćðøąÖĆî

116 21. đÝšćĀîĊĚêćöÿĆââćđßŠćàČĚĂ ı ÿčìíĉ ÿĉîìøĆó÷ŤêćöÿĆââćđßŠćàČĚĂ è üĆîìĊę 31 íĆîüćÙö 2555 öĊéĆÜîĊĚ ĀîŠü÷ ïćì

งบการเงินรวม 2555

÷ćîóćĀîą ĀĆÖ ÙŠćđÿČęĂöøćÙćÿąÿö øćÙćêćöïĆâßĊÿčìíĉ

2554

578,7 2 1 ,2 3

55 ,4

ÝĞćîüîđÜĉî×ĆĚîêĞęćìĊęêšĂÜÝŠć÷êćöÿĆââćđßŠćàČĚĂ è üĆîìĊę 31 íĆîüćÙö 2555 öĊéĆÜîĊĚ ïćì 2555

đÝšćĀîĊĚêćöÿĆââćđßŠćàČĚĂ ÙøïÖĞćĀîéõć÷Ĕî 1 ðŘ ÙøïÖĞćĀîéđÖĉî 1 ðŘĒêŠĕöŠđÖĉî 5 ðŘ øüö ĀĆÖ éĂÖđïĊĚ÷øĂêĆéïĆâßĊ öĎúÙŠćðŦÝÝčïĆî×ĂÜđÝšćĀîĊĚêćöÿĆââćđßŠćàČĚĂ ĀĆÖ ÿŠüîìĊęëċÜÖĞćĀîéßĞćøąõć÷Ĕî 1 ðŘ đÝšćĀîĊĚêćöÿĆââćđßŠćàČĚĂ ı ÿčìíĉ

135,672 384,404 520,076 117, 06

402,170 135,672

266,4 8

2554

22. ÿĞćøĂÜĀîĊĚñúðøąē÷ßîŤóîĆÖÜćî Ļ ñúÖøąìïÝćÖÖćøđøĉęöĔßšîē÷ïć÷ÖćøïĆâßĊĔĀöŠìĊęöĊñúïĆÜÙĆïĔßšĔîðŘ 2554 đøČęĂÜ ñúðøąē÷ßîŤóîĆÖÜćî àċęÜïøĉþĆìĕéšđúČĂÖ øĆïøĎšõćøąĀîĊĚÿĉîÿĞćĀøĆïñúðøąē÷ßîŤóîĆÖÜćî ĔîĂéĊêÝîëċÜüĆîìĊę 31 íĆîüćÙö 2553 ēé÷ðøĆïúéÖĆïÖĞćĕøÿąÿö è üĆîìĊę 1 öÖøćÙö 2554 ÝĞćîüî 8.31 úšćîïćì ÿĞćĀøĆïÜïÖćøđÜĉîøüö ĒúąÝĞćîüî 7.1 úšćîïćì ÿĞćĀøĆïÜïÖćøđÜĉîđÞóćą×ĂÜ ïøĉþĆì àċęÜđðŨîìćÜđúČĂÖìćÜĀîċęÜêćö×šĂÖĞćĀîé×ĂÜöćêøåćîÖćøïĆâßĊ Ļ

ÿĞćĀøĆïðŘÿĉĚîÿčéüĆîìĊę 31 íĆîüćÙö 2555 Ēúą 2554 ïøĉþĆìĒúąïøĉþĆì÷ŠĂ÷öĊøć÷ÖćøđðúĊę÷îĒðúÜ×ĂÜÿĞćøĂÜĀîĊĚÿĉî ñúðøąē÷ßîŤóîĆÖÜćîéĆÜêŠĂĕðîĊĚ ĀîŠü÷ ïćì

งบการเงินรวม 2555

÷ĂéÙÜđĀúČĂêšîÜüé ñúÖøąìï×ĂÜÖćøđðúĊę÷îĒðúÜîē÷ïć÷ÖćøïĆâßĊ đÖĊę÷üÖĆïñúðøąē÷ßîŤĔîĂéĊê×ĂÜóîĆÖÜćî ÷ĂéÙÜđĀúČĂêšîÜüéìĊęðøĆïðøčÜĒúšü êšîìčîðŦÝÝčïĆîøĆïøĎšđóĉęöđêĉöĔîÜïÖĞćĕø×ćéìčîđïĘéđÿøĘÝ ñúðøąē÷ßîŤóîĆÖÜćîìĊęÝŠć÷ ÷ĂéÙÜđĀúČĂÿĉĚîÜüé

,721,630 ,721,630 1,480,621 531, 00

10,670,351

2554

8,308,432 8,308,432 1,413,1 8 ,721,630

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8,372,816 8,372,816 1,248,204 2 8,400

,322,620

2554

7,18 ,866 7,18 ,866 1,182, 50 8,372,816

117 Ļ

ÙŠćĔßšÝŠć÷ñúðøąē÷ßîŤóîĆÖÜćîìĆĚÜĀöéìĊęøĆïøĎšĔîÜïÖĞćĕø×ćéìčîđïĘéđÿøĘÝ öĊéĆÜîĊĚ ĀîŠü÷ ïćì

งบการเงินรวม 2555

êšîìčîïøĉÖćøĔîðŦÝÝčïĆî êšîìčîìćÜÖćøđÜĉî øüö

1,11 ,584 361,037 1,480,621

งบการเงินเฉพาะ ของบริษัท

2554

2555

2554

1,086,732 326,466 1,413,1 8

33,563 314,641 1,248,204

00,40 282,541 1,182, 50

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ÙøĆĚÜìĊę 1 2555 ñĎšëČĂĀčšî

27 đö.÷. 55

ÙøĆĚÜìĊę 3 2555 8 ÿ.Ù. 55 ÙèąÖøøöÖćø

ÙøĆĚÜìĊę 1 2554 22 đö.÷. 54 ñĎšëČĂĀčšî

ÙøĆĚÜìĊę 5 2554 8 ó.÷. 54 ÙèąÖøøöÖćø

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ประเภท การจ่าย

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2554

đÜĉîðŦîñú ĀčšîðŦîñú øüö đÜĉîðŦîñú

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22 ó.Ù. 55 22 ó.Ù. 55

đÜĉîðŦîñú

0.25

31,24 ,750 124, ,000

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đÜĉîðŦîñú

0.25

31,24 ,750 124, ,000

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วันที่จ่าย เงินปันผล

7 Ö.÷. 55

25. ÿĞćøĂÜêćöÖãĀöć÷ êćöóøąøćßïĆââĆêïĉ øĉþìĆ öĀćßîÝĞćÖĆé ó.ý. 2535 ïøĉþìĆ êšĂÜÝĆéÿøøÖĞćĕøÿčìíĉðøąÝĞćðŘđðŨîđÜĉîÿĞćøĂÜĕöŠîĂš ÷ÖüŠćøšĂ÷úąĀšć×ĂÜ ÖĞćĕøÿčìíĉðøąÝĞćðŘÿìč íĉÝćÖ×ćéìčîÿąÿö÷Ööć ëšćöĊ ÝîÖüŠćđÜĉîÿĞćøĂÜîĊÝĚ ąöĊĕöŠîĂš ÷ÖüŠćøšĂ÷úąÿĉï×ĂÜìčîÝéìąđïĊ÷îđÜĉîÿĞćøĂÜ îĊĚÝąĕöŠÿćöćøëîĞćĕðÝŠć÷đðŨîđÜĉîðŦîñúĕéš Ĕîĕêøöćÿ 2 ðŘ 2555 ïøĉþĆìÝĆéÿøøÖĞćĕøÿčìíĉđðŨîÿĞćøĂÜêćöÖãĀöć÷ÝĞćîüî 5.00 úšćîïćì đóČęĂĔĀšÿĂéÙúšĂÜÖĆïÖćøđóĉęöìčî ÝéìąđïĊ÷î

118 26. øć÷ĕéšÝćÖÖćøĔĀšïøĉÖćø øć÷ĕéšÝćÖÖćøïøĉÖćøÿĞćĀøĆïðŘÿĉĚîÿčéüĆîìĊę 31 íĆîüćÙö 2555 Ēúą 2554 ÿŠüîĀîċęÜđðŨîøć÷ĕéšìĊęđÖĉéÝćÖÖćøĒúÖđðúĊę÷îÿĉîÙšć ĀøČĂïøĉÖćø éĆÜîĊĚ ĀîŠü÷ úšćîïćì

ÜïÖćøđÜĉîøüö ÜïÖćøđÜĉîđÞóćą×ĂÜïøĉþĆì

2555

2554

.48 1.08

25.73 8.20

27. øć÷ĕéšĂČęî Ů3!ĉ/* Ģ -Ċ:!": ů งบการเงินรวม

2555

สําหรับปีสิ้นสุดวันที่ 31 ธันวาคม 2554 2555

4.36 2.73 2.71 3.81 13.61

-9"+:* :+ ĉ:D$?L53!=M2 29* 82A +:*H Ċ ĉ:"+< :+ -9"+:* :+3!=M2<! Ċ: !:! 5?L!J +/)

งบการเงินเฉพาะ ของบริษัท

0.73 2.55 3.25 6.53

2554

2.00 7. 0 2.47 2.7 15.16

0.63 7. 1 1.78 10.32

28. ÙŠćĔßšÝŠć÷êćöúĆÖþèą øć÷ÖćøÙŠćĔßšÝŠć÷êćöúĆÖþèąìĊęÿĞćÙĆâĕéšĒÖŠ ĀîŠü÷ ïćì

งบการเงินรวม 2555

ÙŠćđßŠćĒúąÙŠćïøĉÖćø ÙŠćđßŠćēÙøÜðŜć÷ēÛþèć êšîìčîĂČęî đÜĉîđéČĂîĒúąñúðøąē÷ßîŤĂČęî×ĂÜóîĆÖÜćî ÙŠćđÿČęĂöøćÙćĒúąÙŠćêĆéÝĞćĀîŠć÷ ÙŠćÿŠÜđÿøĉöÖćø×ć÷ ÙŠćÿćíćøèĎðēõÙ ÙŠćđñČęĂĀîĊĚÿÜÿĆ÷ÝąÿĎâĒúąĀîĊĚÿĎâ ÙŠćđïĊĚ÷ðøąßčöĒúąÙŠćêĂïĒìîÖøøöÖćø ÙŠćìĊęðøċÖþćÝŠć÷úŠüÜĀîšćĒúąÙŠćĔßšÝŠć÷ÝćÖ ēÙøÜÖćøðŜć÷ēÛþèćêĆéÝŠć÷ ×ćéìčîÝćÖÖćøéšĂ÷ÙŠć×ĂÜđÜĉîúÜìčî ×ćéìčîÝćÖÖćøéšĂ÷ÙŠć×ĂÜĂčðÖøèŤĕêøüĉßĆęî ĂČęîė

2554

งบการเงินเฉพาะ ของบริษัท 2555

2554

76,481,253 110,186, 16 182,248, 62 0,868,032 16,818,757 43,380,442 13,78 ,370 2,63 ,715 2,160,000

76, ,484 7,016,102 124,706,230 73,635,843 15,716,034 54,371,032 12,643,103 15,803,238 2,210,000

27,860,731 110,186, 16 131,125,57 73,682,420 7,118,107 28,526,56 12,7 3,310 1,705,315 2,160,000

27,606,810 7,016,102 115,832,4 7 5 ,660,104 10,7 4,613 26,712,663 12,2 6,703 1,136,875 2,210,000

10,345,740 2,276,717 20,58 ,6 7

6,134,384 22,332, 0

15, 05,746

121,701 17,638,864

119 29. õćþĊđÜĉîĕéš Ů3!ĉ/* Ģ -Ċ:!": ů งบการเงินรวม

2555

ÖĞćĕøÿčìíĉĀúĆÜõćþĊđÜĉîĕéš õćþĊđÜĉîĕéš ÖĞćĕøÿčìíĉÖŠĂîõćþĊđÜĉîĕéš ïüÖ øć÷ÖćøìĊęêšĂÜïüÖÖúĆïêćöðøąöüúøĆþãćÖø ĀĆÖ øć÷ĕéšìĊęĕöŠêšĂÜîĞćöćÙĞćîüèõćþĊđÜĉîĕéš ÖĞćĕøÿčìíĉìćÜõćþĊ õćþĊđÜĉîĕéš ĂĆêøćøšĂ÷úą 23

õćþĊđÜĉîĕéš ĂĆêøćøšĂ÷úą 25

õćþĊđÜĉîĕéš ĂĆêøćøšĂ÷úą 30

งบการเงินเฉพาะ ของบริษัท

สําหรับปีสิ้นสุดวันที่ 31 ธันวาคม 2554 2555

2554

13 .07 41.72 180.7 .67 .07

181.3

7.42 46.14 143.56 20.36 1.77

162.15

1 6.52 27.52 224.04 4.1 108.57

11 .66

78.55 31.25 10 .80 3.63 0. 3

112.50

41.72 41.72

12.50 33.64 46.14

27.52 27.52

12.50 18.75 31.25

30. ÖĂÜìčîÿĞćøĂÜđúĊĚ÷ÜßĊó đöČĂę üĆîìĊę 2 öĉëîč ć÷î 2548 ïøĉþìĆ ĒúąïøĉþìĆ ÷ŠĂ÷ ĒúąóîĆÖÜćî×ĂÜïøĉþìĆ ĒúąïøĉþìĆ ÷ŠĂ÷ĕéšøüŠ öÖĆîÝĆéêĆÜĚ ÖĂÜìčîÿĞćøĂÜđúĊ÷Ě ÜßĊó ×ċîĚ õć÷ĔêšÖćøĂîčöêĆ Ýĉ ćÖÖøąìøüÜÖćøÙúĆÜêćöóøąøćßïĆââĆêÖĉ ĂÜìčîÿĞćøĂÜđúĊ÷Ě ÜßĊó ó.ý. 2530 àċÜę ðøąÖĂïéšü÷đÜĉîìĊóę îĆÖÜćî ÝŠć÷ÿąÿöĒúąđÜĉîìĊęïøĉþĆìĒúąïøĉþĆì÷ŠĂ÷ÝŠć÷ÿöìïĔĀšĔîĂĆêøćøšĂ÷úą 2 5 ×ĂÜđÜĉîđéČĂî ĒúąÝąÝŠć÷ĔĀšÖĆïóîĆÖÜćîĔîÖøèĊìĊę ĂĂÖÝćÖÜćîêćöøąđïĊ÷ïüŠćéšü÷ÖĂÜìčî×ĂÜïøĉþĆìĒúąïøĉþĆì÷ŠĂ÷ ÖĂÜìčîÿĞćøĂÜđúĊĚ÷ÜßĊóîĊĚïøĉĀćøÝĆéÖćøēé÷ïøĉþĆìĀúĆÖìøĆó÷Ť ÝĆéÖćøÖĂÜìčîøüö Ă÷čí÷ć ÝĞćÖĆé ĔîøąĀüŠćÜðŘÿîĉĚ ÿčéüĆîìĊę 31 íĆîüćÙö 2555 Ēúą 2554 ïøĉþìĆ ĒúąïøĉþìĆ ÷ŠĂ÷ĕéšÝćŠ ÷ÿöìïÖĂÜìčîĄ đðŨîÝĞćîüîđÜĉî 1.77 úšćîïćì Ēúą 1.00 úšćîïćì êćöúĞćéĆï ÜïÖćøđÜĉîđÞóćą×ĂÜïøĉþĆì 1.52 úšćîïćì Ēúą 0.81 úšćîïćì êćöúĞćéĆï

31. ēÙøÜÖćøøŠüöúÜìčîøąĀüŠćÜîć÷ÝšćÜĒúąúĎÖÝšćÜ &+*1

đöČĂę üĆîìĊę 1 ÖøÖãćÙö 2553 ïøĉþìĆ ĕéšúÜîćöĔîïĆîìċÖ×šĂêÖúÜēÙøÜÖćøøŠüöúÜìčîøąĀüŠćÜîć÷ÝšćÜĒúąúĎÖÝšćÜ &+I1 ÖĆïóîĆÖÜćî øąéĆïñĎšïøĉĀćø×ĂÜïøĉþĆì Ăć÷čēÙøÜÖćøöĊÖĞćĀîé 3 ðŘ îĆïÝćÖüĆîìĊę 1 ÖøÖãćÙö 2553 ëċÜüĆîìĊę 31 ÖøÖãćÙö 2556 ÿöćßĉÖ ēÙøÜÖćø &+I1 ÝąêšĂÜÝŠć÷đÜĉîÿöìïđðŨîÝĞćîüîĕöŠđÖĉîøšĂ÷úą 5 ×ĂÜđÜĉîđéČĂîĔîüĆîìĊęìĊęĕéšÖĞćĀîéĕüšĔîēÙøÜÖćøìčÖđéČĂî ēé÷öĊ ïøĉþĆìĀúĆÖìøĆó÷Ť ôŗúúĉð ðøąđìýĕì÷ ÝĞćÖĆé öĀćßî đðŨîêĆüĒìîéĞćđîĉîÖćø ĒúąÝąĕéšøĆïđÜĉîÿöìïÝćÖïøĉþĆìđðŨîÝĞćîüî øšĂ÷úą 80 ×ĂÜđÜĉîìĊęĀĆÖÝćÖñĎšđ×šćøŠüöēÙøÜÖćøìčÖđéČĂî đÜĉîÿöìïÝćÖÿöćßĉÖĒúąÝćÖïøĉþĆìÝąîĞćĕðàČĚĂĀčšî×ĂÜ M"$0 àċęÜĂ÷ĎŠ ĔîêúćéĀúĆÖìøĆó÷ŤĒĀŠÜðøąđìýĕì÷ĔîüĆîìĊęìĊęÖĞćĀîéĕüš ĔîøąĀüŠćÜðŘÿĉĚîÿčéüĆîìĊę 31 íĆîüćÙö 2555 Ēúą 2554 ïøĉþĆìĒúąïøĉþĆì÷ŠĂ÷ĕéšÝŠć÷ÿöìïēÙøÜÖćøđðŨîÝĞćîüîđÜĉî 1.07 úšćîïćì Ēúą 0. 4 úšćîïćì êćöúĞćéĆï ÜïÖćøđÜĉîđÞóćą×ĂÜïøĉþĆì ÝĞćîüî 0. 3 úšćîïćì Ēúą 0.7 úšćîïćì êćöúĞćéĆï

120 32. Öćøđðŗéđñ÷đÙøČęĂÜöČĂìćÜÖćøđÜĉî ÿĉîìøĆó÷ŤìćÜÖćøđÜĉîĒúąĀîĊĚÿĉîìćÜÖćøđÜĉîìĊęöĊĂ÷ĎŠĔîÜïĒÿéÜåćîąÖćøđÜĉîĕéšøüöđÜĉîÿéĒúąøć÷ÖćøđìĊ÷ïđìŠćđÜĉîÿé đÜĉîòćÖ íîćÙćøìĊęöĊ×šĂÝĞćÖĆéĔîÖćøĔßš úĎÖĀîĊĚÖćøÙšć úĎÖĀîĊĚĂČęî đÜĉîĔĀšÖĎš÷Čö đÜĉîúÜìčî đÝšćĀîĊĚÖćøÙšć đÝšćĀîĊĚĂČęîĒúąđÜĉîÖĎš÷Čö îē÷ïć÷Öćø ïĆâßĊÿĞćĀøĆïÖćøïĆîìċÖĒúąÖćøüĆéöĎúÙŠć×ĂÜøć÷ÖćøđĀúŠćîĊĚĕéšđðŗéđñ÷ĕüšĔîîē÷ïć÷ÖćøïĆâßĊìĊęđÖĊę÷ü×šĂÜĔîĀöć÷đĀêčðøąÖĂï ÜïÖćøđÜĉî×šĂ 3 ÙüćöđÿĊę÷ÜéšćîÿõćóÙúŠĂÜ ÙüćöđÿĊę÷ÜéšćîÿõćóÙúŠĂÜđÖĉéÝćÖÙüćöđðŨîĕðĕéšìĊęúĎÖÙšćĂćÝÝąĕöŠÿćöćøëÝŠć÷ßĞćøąĀîĊĚĔĀšĒÖŠïøĉþĆìĕéšõć÷ĔîÖĞćĀîéđüúćēé÷ ðÖêĉ×ĂÜÖćøÙšć đóČęĂÝĆéÖćøÙüćöđÿĊę÷ÜîĊĚ ïøĉþĆìĕéšðøąđöĉîÙüćöÿćöćøëìćÜÖćøđÜĉî×ĂÜúĎÖÙšćđðŨîøą÷ąė ÙüćöđÿĊę÷ÜéšćîÖćøĔĀšÿĉîđßČęĂ ÙüćöđÿĊę÷ÜéšćîÖćøĔĀšÿĉîđßČęĂĀöć÷ëċÜÙüćöđÿĊę÷ÜìĊęÙĎŠÿĆââćĕöŠðäĉïĆêĉêćö×šĂÖĞćĀîéĔîÿĆââćàċęÜÖŠĂĔĀšđÖĉéÙüćöđÿĊ÷Āć÷ìćÜ ÖćøđÜĉîĒÖŠïøĉþìĆ ñĎïš øĉĀćøđßČĂę üŠćïøĉþìĆ ĕöŠöÙĊ üćöđÿĊ÷ę ÜìĊđę ðŨîÿćøąÿĞćÙĆâìćÜéšćîÿĉîđßČĂę ÖĆïïøĉþìĆ ĔéïøĉþìĆ ĀîċÜę ĀøČĂÖúčöŠ ×ĂÜïøĉþìĆ đîČęĂÜÝćÖïøĉþĆìöĊúĎÖÙšćÝĞćîüîöćÖ ÙüćöđÿĊę÷ÜéšćîĂĆêøćéĂÖđïĊĚ÷ ÙüćöđÿĊę÷ÜéšćîĂĆêøćéĂÖđïĊĚ÷ ÙČĂÙüćöđÿĊę÷ÜìĊęöĎúÙŠć×ĂÜđÙøČęĂÜöČĂìćÜÖćøđÜĉîđðúĊę÷îĒðúÜĕðđîČęĂÜÝćÖÖćøđðúĊę÷îĒðúÜĂĆêøć éĂÖđïĊĚ÷Ĕîêúćé ÿĉîìøĆó÷ŤìćÜÖćøđÜĉîìĊęöĊÿćøąÿĞćÙĆâÿćöćøëÝĆéðøąđõìêćöĂĆêøćéĂÖđïĊĚ÷ĕéš éĆÜîĊĚ ĀîŠü÷ ïćì

งบการเงินรวม มีอัตรา ดอกเบี้ยลอยตัว

ÿĉîìøĆó÷ŤìćÜÖćøđÜĉî đÜĉîÿéĒúąøć÷ÖćøđìĊ÷ïđìŠćđÜĉîÿé đÜĉîúÜìčîßĆęüÙøćü đÜĉîĔĀšÖĎš÷ČöĒÖŠïøĉþĆììĊęđÖĊę÷ü×šĂÜ đÜĉîòćÖíîćÙćøìĊęöĊ×šĂÝĞćÖĆéĔîÖćøĔßš

231,643,778 4 5,000 6,452,05

31 ธันวาคม 2555 มีอัตรา ดอกเบี้ยคงที่ ไม่มีดอกเบี้ย

32,000,000

858,673 37,130, 63

รวม

232,502,451 6 ,130, 63 4 5,000 6,452,05 ĀîŠü÷ ïćì

งบการเงินรวม มีอัตรา ดอกเบี้ยลอยตัว

217,864,712 4 5,000 5,651,377

31 ธันวาคม 2554 มีอัตรา ดอกเบี้ยคงที่ ไม่มีดอกเบี้ย

2,168, 0 38,437, 2

รวม

220,033,621 38,437, 2 4 5,000 5,651,377

121 ĀîŠü÷ ïćì

งบการเงินเฉพาะของบริษัท มีอัตรา ดอกเบี้ยลอยตัว

177,003,183 4 5,000 2,452,05

31 ธันวาคม 2555 มีอัตรา ดอกเบี้ยคงที่ ไม่มีดอกเบี้ย

32,000,000

821,550 37,130, 63

รวม

177,824,733 6 ,130, 63 4 5,000 2,452,05 ĀîŠü÷ ïćì

งบการเงินเฉพาะของบริษัท มีอัตรา ดอกเบี้ยลอยตัว

153,832,578 4 5,000 2,441,377

31 ธันวาคม 2554 มีอัตรา ดอกเบี้ยคงที่ ไม่มีดอกเบี้ย

2,154,078 36,320,60

รวม

155, 86,656 36,320,60 4 5,000 2,441,377

ÿĉîìøĆó÷ŤìćÜÖćøđÜĉîĒúąüĆîìĊęÙøïÖĞćĀîé×ĂÜđÙøČęĂÜöČĂìćÜÖćøđÜĉî îĆïÝćÖüĆîìĊęĔîÜïĒÿéÜåćîąÖćøđÜĉî è üĆîìĊę 31 íĆîüćÙö 2555 Ēúą 2554 öĊéĆÜêŠĂĕðîĊĚ ĀîŠü÷ ïćì

งบการเงินรวม เมื่อทวงถาม

143,827,700 37,130, 63 4 5,000

31 ธันวาคม 2555 1 - 6 เดือน 7 - 12 เดือน

88,674,751 32,000,000 6,452,05

รวม

232,502,451 6 ,130, 63 4 5,000 6,452,05

อัตราดอกเบี้ย

0.75 2.10 3.50 8.25 1.60 2.15 ĀîŠü÷ ïćì

งบการเงินรวม เมื่อทวงถาม

31 ธันวาคม 2554 1 - 6 เดือน 7 - 12 เดือน

111,671,107 108,362,514 38,437, 2 4 5,000 5,651,377

รวม

220,033,621 38,437, 2 4 5,000 5,651,377

อัตราดอกเบี้ย

0.75 2.10 8.25 1.00 1. 0

122 ĀîŠü÷ ïćì

งบการเงินเฉพาะของบริษัท เมื่อทวงถาม

101,448,665 37,130, 63 4 5,000

31 ธันวาคม 2555 1 - 6 เดือน 7 - 12 เดือน

76,376,068 32,000,000 2,452,05

รวม

177,824,733 6 ,130, 63 4 5,000 2,452,05

อัตราดอกเบี้ย

0.75 2.10 3.50 8.25 1.60 2.15 ĀîŠü÷ ïćì

งบการเงินเฉพาะของบริษัท เมื่อทวงถาม

66,313,110 36,320,60 4 5,000

31 ธันวาคม 2554 1 - 6 เดือน 7 - 12 เดือน

8 ,673,546 2,441,377

รวม

155, 86,656 36,320,60 4 5,000 2,441,377

อัตราดอกเบี้ย

0.75 2.10 8.25 1.00 1. 0

öĎúÙŠć÷čêĉíøøö×ĂÜđÙøČęĂÜöČĂìćÜÖćøđÜĉî öĎúÙŠć÷čêíĉ øøö Āöć÷ëċÜ ÝĞćîüîđÜĉîìĊñę àšĎ ĂČĚ ĒúąñĎ×š ć÷êÖúÜĒúÖđðúĊ÷ę îđÙøČĂę ÜöČĂìćÜÖćøđÜĉîÖĆîĔî×èąìĊìę ÜĆĚ ÿĂÜòść÷ öĊÙüćöøĂïøĎš ĒúąđêĘöĔÝĔîÖćøĒúÖđðúĊę÷î ĒúąÿćöćøëêŠĂøĂÜøćÙćÖĆîĕéšĂ÷ŠćÜđðŨîĂĉÿøąĔîúĆÖþèą×ĂÜñĎšìĊęĕöŠöĊÙüćöđÖĊę÷ü×šĂÜÖĆî öĎúÙŠć ÷čêĉíøøöĕéšöćÝćÖøćÙćêúćéìĊęÖĞćĀîéĀøČĂÖøąĒÿđÜĉîÿéÙĉéúé ïøĉþĆìĔßšüĉíĊÖćøĒúąÿööêĉåćîéĆÜêŠĂĕðîĊĚĔîÖćøðøąöćèöĎúÙŠć÷čêĉíøøö×ĂÜđÙøČęĂÜöČĂìćÜÖćøđÜĉî Ļ

đÜĉîÿéĒúąøć÷ÖćøđìĊ÷ïđìŠćđÜĉîÿé đÜĉîúÜìčîßĆęüÙøćü đÜĉîòćÖìĊęöĊ×šĂÝĞćÖĆéĔîÖćøĔßšĒúąúĎÖĀîĊĚÖćøÙšć öĊøćÙćêćöïĆâßĊ ĔÖúšđÙĊ÷ÜÖĆïöĎúÙŠć÷čêĉíøøö đîČęĂÜÝćÖđÙøČęĂÜöČĂìćÜÖćøđÜĉîđĀúŠćîĊĚÝąÙøïÖĞćĀîéĔîøą÷ąđüúćĂĆîÿĆĚî

đÜĉîĔĀšÖĎš÷öČ ĒÖŠïøĉþĆììĊęđÖĊę÷ü×šĂÜìĊęöĊĂĆêøćéĂÖđïĊĚ÷đðŨîĂĆêøćìšĂÜêúćéöĊøćÙćêćöïĆâßĊĔÖúšđÙĊ÷ÜÖĆïöĎúÙŠć÷čêĉíøøö

đÝšćĀîĊĚÖćøÙšćöĊøćÙćêćöïĆâßĊ×ĂÜĀîĊĚÿĉîìćÜÖćøđÜĉîĔÖúšđÙĊ÷ÜÖĆïöĎúÙŠć÷čêĉíøøöđîČęĂÜÝćÖđÙøČęĂÜöČĂìćÜÖćøđÜĉîîĊĚÝąÙøï ÖĞćĀîéĔîøą÷ąđüúćĂĆîÿĆĚî

33. õćøąñĎÖóĆî è üĆîìĊę 31 íĆîüćÙö 2555 ïøĉþĆìĒúąïøĉþĆì÷ŠĂ÷öĊõćøąñĎÖóĆîéĆÜêŠĂĕðîĊĚ õćøąñĎÖóĆîÖĆïïčÙÙúõć÷îĂÖ 33.1 ïøĉþìĆ ĒúąïøĉþìĆ ÷ŠĂ÷öĊÿâ Ć âćđßŠćÖĆïĀîŠü÷ÜćîøćßÖćø ÿĞćĀøĆïÿëćîìĊêę ÜĆĚ ðŜć÷ēÛþèćĒúąÖćøĔßšĕôôŜćđðŨîÝĞćîüîđÜĉîøüö ðøąöćè 27.38 úšćîïćì ÜïđÞóćą×ĂÜïøĉþìĆ 13.23 úšćîïćì ïøĉþìĆ ĒúąïøĉþìĆ ÷ŠĂ÷ĕéšïîĆ ìċÖÙŠćđßŠćÙšćÜÝŠć÷êćöõćøą ñĎÖóĆîîĊĚêćöøą÷ąđüúćìĊęđßŠćēé÷ÙøïëšüîĒúšü ēé÷öĊíîćÙćøĂĂÖĀîĆÜÿČĂÙĞĚćðøąÖĆîÿĞćĀøĆïÿĆââćéĆÜÖúŠćü

123 33.2 ïøĉþĆìĒúąïøĉþĆì÷ŠĂ÷öĊõćøąñĎÖóĆîêćöÿĆââćđßŠćĒúąÿĆââćïøĉÖćøøą÷ą÷ćü àċęÜÿŠüîĔĀâŠđÖĊę÷üđîČęĂÜÖĆïÖćøđßŠćÿëćîìĊę đóČęĂĔßšĔîÖćøēÛþèć ēé÷öĊÙŠćđßŠćĒúąÙŠćïøĉÖćøìĊęêšĂÜÝŠć÷éĆÜîĊĚ ĀîŠü÷ úšćîïćì

ปี

2556 2557 2560 êĆĚÜĒêŠ 2561

øüö

งบการเงินรวม

126.25 122.40 42.35 2 1.00

งบการเงินเฉพาะ ของบริษัท

8.23 28.37 126.60

ēé÷öĊđÜČęĂîĕ×ìĊęÿĞćÙĆâéĆÜîĊĚ Ļ ÝŠć÷ßĞćøąÙŠćïøĉÖćøđðŨîøć÷đéČĂî ĒúąöĊđÜĉîöĆéÝĞćúŠüÜĀîšć 1 đéČĂî àċęÜÝąÝŠć÷ÙČîđöČęĂ÷ÖđúĉÖÿĆââć Ļ öĊÿĉìíĉêŠĂĂć÷čÿĆââćĕéšìčÖ 3 ðŘ àċęÜøćÙćÝąðøĆïêćöêúćéĔî×èąîĆĚî 33.3 ïøĉþĆìöĊõćøąñĎÖóĆîêćöÿĆéÿŠüîÖćøëČĂĀčšîĔîïøĉþĆìøŠüö êćöÿĆââć×ć÷ÝĂ -&D Screen ×ĂÜïøĉþĆì đìÙ Ăą účÙ ÝĞćÖĆé ïøĉþĆìøŠüö àċęÜöĊöĎúÙŠć×ć÷êćöÿĆââć ÝĞćîüî 47 úšćîïćì øĆïßĞćøąđðŨîđÜĉî ÝĞćîüî 1 .50 úšćîïćì ĒúąđðŨîÿĉìíĉÖćø ēÛþèćïîÝĂ -&D Screen ÝĞćîüî 27.50 úšćîïćì öĊõćøąñĎÖóĆî 3 ðŘ ìĊęïøĉþĆìøŠüöêšĂÜðäĉïĆêĉêćöđÜČęĂîĕ×ĔîÿĆââć đßŠî ÖćøÝĆéÖćøéĎĒúÖćøïĞćøčÜøĆÖþćĂčðÖøèŤ ēé÷ïøĉþĆìÝąøĆïñĉéßĂïĔîÙŠćđÿĊ÷Āć÷ ëšćöĊ àċęÜõćøąñĎÖóĆîéĆÜÖúŠćüÝąÿĉĚî ÿčéúÜĔîüĆîìĊę 31 íĆîüćÙö 2555 33.4 đöČęĂüĆîìĊę 22 íĆîüćÙö 254 ïøĉþĆì ÙĞĚćðøąÖĆîÖćøßĞćøąĀîĊĚ×ĂÜïøĉþĆì ĒúîéĊĚ éĊđüúúĂðđöšîìŤ ÝĞćÖĆé àċęÜđðŨîïøĉþĆìøŠüö ÖĆï íîćÙćøĒĀŠÜĀîċęÜ üÜđÜĉî 8 úšćîïćì Ēúą ïøĉþĆì ĒúîéĊĚ éĊđüúúĂðđöšîìŤ ÝĞćÖĆé ÙĞĚćðøąÖĆîÖćøßĞćøąĀîĊĚ×ĂÜïøĉþĆìĒúą ĀøČĂ ïøĉþĆì ĕéĂĉÝĉ ÙĂøŤðĂđøßĆęî ÝĞćÖĆé öĀćßî Ēúą ĀøČĂ ïøĉþĆì ĒúîéĊĚ ēăö ðøąđìýĕì÷ ÝĞćÖĆé ÖĆïíîćÙćøĒĀŠÜĀîċęÜ üÜđÜĉî 47 úšćîïćì àċęÜ è üĆîìĊę 31 íĆîüćÙö 2555 ïøĉþĆìöĊõćøąÙĞĚćðøąÖĆîĀîĊĚÿĉî×ĂÜïøĉþĆì ĒúîéĊĚ éĊđüúúĂðđöšîìŤ ÝĞćÖĆé êćöÿĆéÿŠüîÖćøëČĂĀčšîÝĞćîüî 1 .8 úšćîïćì 34. ×šĂóĉóćììćÜÖãĀöć÷ ĔîðŘ 2552 ýćúßĆĚîêšîĕéšóĉóćÖþćĔĀšïøĉþĆì÷ŠĂ÷ÝŠć÷ÙŠćđÿĊ÷Āć÷ĔîÙéĊÙüćöÖĆïÙĎŠÙšćøć÷ĀîċęÜ đîČęĂÜÝćÖÙĎŠÙšćøć÷éĆÜÖúŠćüöĊÖćøôŜĂÜ đøĊ÷ÖøšĂÜÙŠćđÿĊ÷Āć÷ đóČęĂĔĀšïøĉþĆì÷ŠĂ÷ÝŠć÷ßĞćøąÙŠćÝšćÜìĞć×ĂÜ ÙŠćđßŠćÿČęĂēÛþèćĒúąÙŠćđÿĊ÷Āć÷ÝĞćîüîđÜĉîøüöðøąöćè 7.55 úšćîïćì àċęÜïøĉþĆì÷ŠĂ÷ĕéšïĆîìċÖÙŠćđÿĊ÷Āć÷éĆÜÖúŠćüđðŨîÝĞćîüî 5.38 úšćîïćì đðŨîøć÷ÝŠć÷ĒúšüĔîðŘ 254 ĒúąêĆĚÜĒêŠĕêøöćÿ 3 ðŘ 2553 đðŨîêšîöć ïøĉþĆì÷ŠĂ÷ĕéšïĆîìċÖÙŠćđÿĊ÷Āć÷øüöéĂÖđïĊĚ÷ìĊęÙćéüŠćÝąßĞćøąđóĉęöđêĉöøüöđðŨîÝĞćîüîđÜĉî 5.74 úšćîïćì ñĎšïøĉĀćø×ĂÜïøĉþĆì÷ŠĂ÷đßČęĂüŠćđðŨîÝĞćîüîđÜĉîìĊęđóĊ÷ÜóĂĒúšü ×èąîĊĚïøĉþĆì÷ŠĂ÷ĕéš÷ČęîĂčìíøèŤÙĞćêĆéÿĉî×ĂÜýćúßĆĚîêšî ÙéĊÙüćö éĆÜÖúŠćüÖĞćúĆÜĂ÷ĎŠøąĀüŠćÜÖćøóĉÝćøèć×ĂÜýćúĂčìíøèŤ ēé÷ïøĉþĆì÷ŠĂ÷üćÜĀîĆÜÿČĂÙĞĚćðøąÖĆîÝćÖíîćÙćøÝĞćîüî 11.45 úšćî ïćì ĕüšÖĆïýćúĂčìíøèŤ è üĆîìĊę 31 íĆîüćÙö 2555 Ēúą 2554 ĀîĊĚÿĉî×šćÜêšîĒÿéÜøć÷ÖćøĔîøć÷ÖćøđÝšćĀîĊĚÖćøÙšć ñĎšÙšćìĆęüĕð ÝĞćîüî 11.12 úšćîïćì Ēúą 10.56 úšćîïćì êćöúĞćéĆï ÿĞćĀøĆïÜïÖćøđÜĉîøüö àċęÜïøĉþĆì÷ŠĂ÷ÙćéüŠćÝąÝŠć÷ßĞćøąđÖĉîÖüŠćøą÷ąđüúć 12 đéČĂî

124 35. ÖćøÝĆéðøąđõìøć÷ÖćøïĆâßĊĔĀöŠ ïøĉþĆìĕéšÝĆéðøąđõìøć÷ÖćøïĆâßĊÙŠćÙüćöîĉ÷öĒúąÿŠüîúéÝćÖÖćøđóĉęöÿĆéÿŠüîÖćøëČĂĀčšîĔîïøĉþĆì÷ŠĂ÷ĔĀöŠđóČęĂĔĀšÜïÖćøđÜĉî øüöÿąìšĂîõćóåćîąÖćøđÜĉîđĀöćąÿö÷ĉęÜ×ċĚî ēé÷öĊñúÖøąìïêŠĂÜïĒÿéÜåćîąÖćøđÜĉîøüö è üĆîìĊę 31 íĆîüćÙö 2554 ĒêŠĕöŠöĊ ñúÖøąìïêŠĂÖĞćĕøÿčìíĉĒúąÖĞćĕøêŠĂĀčšîÿĞćĀøĆïðŘ 2554 éĆÜîĊĚ งบแสดงฐานะการเงิน

ล้านบาท

ÿĉîìøĆó÷Ť ÿĉîìøĆó÷ŤĕöŠĀöčîđüĊ÷î ÙŠćÙüćöîĉ÷ö đóĉęö×ċĚî

13.04

ÿŠüî×ĂÜñĎšëČĂĀčšî ĂÜÙŤðøąÖĂïĂČęî×ĂÜÿŠüî×ĂÜñĎšëČĂĀčšî đóĉęö×ċĚî

13.04

ÙŠćÙüćöîĉ÷ö đÖĉéÝćÖÖćøàČĚĂïøĉþĆì öćÿđêĂøŤ ĒĂîéŤ öĂøŤ ÝĞćÖĆé ĔîÿĆéÿŠüîøšĂ÷úą 67.50 ÝćÖïøĉþĆìĒĀŠÜĀîċęÜĔîðŘ 2547 36. ÖćøĂîčöĆêĉÜïÖćøđÜĉî ÜïÖćøđÜĉîîĊĚĕéšøĆïĂîčöĆêĉÝćÖÙèąÖøøöÖćø×ĂÜïøĉþĆìĒúšü đöČęĂüĆîìĊę 8 ÖčöõćóĆîíŤ 2556

Contents 126

Message from Chairman of the Board of

167

Corporate Governance

Director

184

Internal Control

Message from Chairman of the Executive

185

Risk Factor

Committee

188

Management Discussion and Financial Analysis

128

Director and Management Team

196

Audit Committeeâ&#x20AC;&#x2122;s Report

137

General Information

197

The Board of Directorsâ&#x20AC;&#x2122; Responsibilities

138

Nature of Business

145

Shareholding & Organizational Structure

159

Connected Transaction

127

in Respect of the Financial Statements 200

Financial Statement

126

Message from the Chairman %FBS 4IBSFIPMEFST, 0verall economic of the past year, which was the :ear of the (olden Dragon, was outstanding. In many of the maKor events related to the global economy, including the changes of the leaders in many countries, the global economic slowdown that occurred relatively early and deep down to all economic groups, as well as the international institutes continued reducing economic growth. In 2012, the world saw an intensive monetary policy phenomenon with many countries inKecting massive amounts of liquidity into the economy. Many economic analysts predicted that the year 2013 will see a recovery in the economy of many countries. &ven the 6.S. that has been facing the ųscal cliff, it would make a return to conųdence and start to recover. &uro zone crisis will still persist. However, the economy will grow slightly in "sia, particularly $hina and "S&"/ will enKoy the growth as well as the economy of #3I$S that would return to growth again. For Thailand, the (olden Dragon year was the year with political stability and good economic resulting in the growth of the automotive industry which was noted by the order for new cars in the motor shows. In addition, a number of public sector proKects to correct and prevent the Ŵood and investment in infrastructure, would inKect more money, as well as the "&$ scheme that would alert all the "S&"/ countries and that will beneųt the economy, society and politics of the country. The year 2012 is considered the golden year of M"$0 since it is the ųrst year we have enKoyed the highest business growth in 20 years with total revenue of 732.3 million #aht and a net proųt of 13 .51 million #aht. It is the ųrst year we have been awarded with ĳ"sia’s 200 #est 6nder a #illion’ by Forbes magazine, and the ųrst year for the ĳ$ompany 1erformance "wards’ from Set "wards 2012. "ll the "wards, I would like to share them with all employees as an encouragement due to your dedication and performance of everyone. For the year 2013, M"$0 has prepared a strategic plan for 3 years to support the launch of the "S&"/ &conomic $ommunity "&$ concerning the readiness of the personnel, capital and alliances. 8e believe that in the next 3 years all "S&"/ countries will face strong competition and only the one who is ready will be more competitive. 3egarding the marketing plan, M"$0 has seen that the operation with customer’s satisfaction in view is a part for success, and the positive trend of the economy and the political will help M"$0 to reach the target easily. 0n behalf of the #oard, the management and every employee of Master "d 1lc $o., -td., we are all committed to working together to develop and promote a sustainable organization under the principles of good corporate governance so that the $ompany will have a sustainable growth. 0n behalf of the #oard, I wish to use this opportunity to thank all of you for the support and continuous cooperation with of the $ompany.

1PM. 4VC. -U. ,SJBOHTBL -PIBDIBMB $hairman of the #oard of Directors

127

Message from the Chairman of Executive Committee and Chief Executive OfďŹ cer %FBS 4IBSFIPMEFST. In 2012, it is the 25th year of our operation. M"$0 is like a youth who has experienced and been proud as well as delighted because this year is truly the (olden :ear for us. "s to the $hairman, M"$0 has won numerous awards to the extent that it has made a record as the 0HM company who received most awards in the a year, including the #est $&0 "wards from the Set "ward 2012 as well. This year, all the staff of each unit has worked professionally and with responsibility in order to reach the goal. It works out to be satisfactory to the #oard and the shareholders with the net proĹłt of 13 .51 or 42.38 over 2011. For the year 2013, it would be a challenge to M"$0 team, because 1. 8e need to retain the championship and 2. 8e need to reach the goal. This year the #oard has a policy plan for the "S&"/ &conomic $ommunity "&$ . Therefore, in 2013 the M"$0 team has to work 3 times harder. #ut everyone will not be indefatigable to move forward, under the slogan ÄłMaximize $onnecting the Moving -ife.â&#x20AC;&#x2122; The goal for us this year is that we have to invade the "S&"/ market, and more importantly, Master "d 1lc. $o., -td. will remain committed to doing business under transparency and can be veriĹłed. 0n behalf of Master "d 1lc $o., -td., I wish to thank the shareholders, the investors, the analysts and the media, including the agencies both public and private sectors, in supporting us, for your trust and conĹłdence in the $ompanyâ&#x20AC;&#x2122;s vision after all these years.

.S. /PQQBEPO 5BOTBMBSBL $hairman of &xecutive $ommittee $hief &xecutive 0fĹłcer

none

2. .S. 1BSBNFT 3BDIKBJCVO 57 none

none

% of share Relation holding : among family within the Company :

none

Age

1. 1PM. 4VC. -U. ,SJFOHTBL 70 -PIBDIBMB

Name â&#x20AC;&#x201C; Last Name

Directorâ&#x20AC;&#x2122;s ProďŹ le

D"1 57 06

Äť #" Faculty of -iberal "rts History , Thammasat 6niversity. Äť Honorary Doctor of "rts Degree, Sripatum 6niversity. Äť Training course Thai Institute of Directors I0D

Äť Director "ccreditation 1rogram

D"1 07 04

Äť Master of 1ublic "dministration, ,ent State 6niversity, 6S" Äť Doctor of 1ublic "dministration, 6niversity, 2003 3amkhamhaeng Äť #achelor of -aws, Thammasart 6niversity Äť 5SBJOHJOH DPVSTF: 5IBJ *OTUJUVUF PG %JSFDUPST *0%

Äť Director "ccreditation 1rogram

&EVDBUJPO :

1resent 1resent 1resent 1resent 2002 2004 2000 2001 1 7 2000 1 2 1 7 1 87 1 2

1resent 2000 2002 1 0 2000

1resent 1resent 1resent

1resent 1resent

1resent 1resent 1resent

1resent

Year

" 1lus &ntertainment 1lc.

Master "d 1lc.

Company

#ureau of the $rown 1roperty ,rungthep Thanakom $o., -td. 3aKapraKanugroh Foundation under the 3oyal 1atronage Member 3uk Muangthai Foundation 1resident of the 6niversity 3aKamangala 6niversity of $ouncil Technology Tawan ok $hairman $hildren Discovery Museum Director MaKor $ineplex (roup 1lc. Independent Director and 1richa (roup 1lc. "udit $ommittee Independent Director ,anyong &lectric 1ermanent Secretary #angkok (overnor Deputy 1ermanent #angkok (overnor Secretary Vice $hairman of the Master "d 1lc. #oard of Director Turnaround Focus $o., -td. $hief &xecutive 0fĹłcer, /ueanabun $o., -td. $hief &xecutive 0fĹłcer, The "dvertising "ssociation of Thailand Honorary $hairman, Turnaround $o., -td. $hief &xecutive 0fĹłcer Dentsu :oung 3ubicam 1resident Dentsu :oung 3ubicam 1resident $ustomer Dentsu :oung 3ubicam 3elationships Director Dentsu :oung 3ubicam (eneral Manager $lient Service Director

$hairman of the #oard of Director $hairman of the #oard of Director $onsultant $onsultant Member

Position

Working Experience

128

3. .S. /PQQBEPO 5BOTBMBSBL

Name â&#x20AC;&#x201C; Last Name

20.31

/one

Age % of share Relation holding : among family within the Company :

Äť Äť

Äť

Äť Äť Äť Äť Äť Äť

Year

Position

Company

Master "d 1ublic $o., -td. Take a -ook $o., -td. Master "d 1ublic $o., -td. Master and More $o., -td. Maco 3ite Sign $o., -td. Master "d 1ublic $o., -td.

"dvertising and Sign 1roduction "ssociation 3etails Management $ourse, $1 "ll 1ublic $o., -td. 5IBJ -JTUFE $PNQBOJFT "TTPDJBUJPO

(reen "d $o., -td. $apital Market "cademy "lumni "ssociation $apital Market "cademy "lumni "ssociation

M"I Stock &xchange School of 1olitics and 1ublic "dminis tration, ,ing 1raKadhipokâ&#x20AC;&#x2122;s Institute Five 1rovinces #ordering Forest 1reservation Foundation Town #randing $o., -td. "ssociation of /ational Defence $ollege 3etails Management $ourse, $1 "ll 1ublic $o., -td. Max $reative $o., -td. Taokaenoi Food Marketing 1ublic $o., -td.

Working Experience

2013 1resent "dvisor &ngineering. 6niversity of 2013 1resent $hairman of 13 and Southwestern -ouisiana 6S". Members 3elations, $lass 15 M#", Thammasat 6niversity 2012 1resent Sub committee on 13 and &ngineering #achelor Degree, "ctivities Survey. $hulalongkorn 6niversity 2012 1resent Director Director "ccreditation 1rogram 2011 1resent Secretary, $lass 2 D"1 7 04 2011 1resent $hairman of the $ommittee Director $ertiĹłcation 1rogram "3M $-6# D$1 44 04 2011 1resent Director T-$" &xecutive Development 2011 1resent Independent Director and 1rogram 2 &D12

"udit $ommittee "dvanced Diploma for &xecutives 2010 1resent Director on 1olitics and (overnance in 2010 1resent Director Democracy, $lass 15, School of 2010 1resent $hief of Secreatary Team, 1olitics and 1ublic "dministration, $lass 10 ,ing 1raKadhipokâ&#x20AC;&#x2122;s Institute 2010 1resent Honorary "dvisor "dvanced Security Management 2008 1resent $hairman of the Students $ourse, $lass 2, "ssociation of $lass 1 2551 "3M1

/ational Defence $ollege 2008 1resent $hairman of the Students "dvanced $ourse for &xecutive, $lass 2 2551 &D12 , T-$" $lass 10, $apital Market &xecutive Development "cademy 1rogram 2 "dvance 3etail Management

2003 1resent &xecutive $ommittee $lass 1 $1 "ll 1ublic $o., -td. 2003 1resent Director Successful 2003 1resent Director Formulation &xecution the 1 6 1resent Director Strategy SF& $lass 6 2010 1 3 1resent Director 1 88 1resent $&0

Äť Master in &ngineering. Structural

&EVDBUJPO :

129

3. .S. /PQQBEPO 5BOTBMBSBL

Name â&#x20AC;&#x201C; Last Name

Age % of share Relation holding : among family within the Company :

&EVDBUJPO :

1 82 1 84

1 2 2008 1 8 200 1 8 2008 1 86 1 87

1 6 2011 1 4 2003

2001

2003

2006

2006 2007

2008 200 2007 2010

2008 2010 2008 200 2008 200 2008 200 2008 200

2012

Year

Company

School of 1olitics and 1ublic "dminis tration, ,ing 1raKadhipokâ&#x20AC;&#x2122;s Institute $hairman of Fund 3aising and School of 1olitics and 1ublic 3evenue Management, $lass 15 "dminis tration, ,ing 1raKadhipokâ&#x20AC;&#x2122;s Institute &xecutive Director Vice president #angkok Sports $lub Division Subcommittee $hairman #angkok Sports $lub 13 #angkok Sports $lub Vice president "dvertising and Sign 1roducitn "ssociation Vice president #angkok Sports $lub Director and $hairman of Thai -isted $ompanies "ssociation "udit $ommittee 1resident "dvertising and Sign 1roduction "ssociation "S1"

Vice president "dvertising and Sign 1roduction "ssociation Subcommittee on 1ublic SufĹłciency &conomy Subcommittee 3elations "dvisor to the Sub $ommittee Transportation $ommission. House of 3epresentatives "dvisor to the $hairman of the 1ublic 3elations Senate Director House of the Senate Secretary Ink +et Images Thailand $o., -td. "dvertising and Sign 1roduction "ssociation "S1"

Director -andy Development $o., -td. Director Dai Ichi $orporation 1ublic Director -andy Home $o., -td. &ngineer &xpressway and 3apid Transit "uthority of Thailand &ngineer -$$ -im $haroen $o., -td.

$hairman of 13 and Members 3elations, $lass 15

Position

Working Experience

130

5. .S. 5BXBU .FFQSBTFSUTLVM

6. .S. 7JDIJU %JMPLXJMBT

5.68

11.13

1 .74

/one

Age % of share Relation holding : among family within the Company :

4. .S. 1IJDIFE .BOFFSBUUBOBQPSO

Name â&#x20AC;&#x201C; Last Name

1resent 1resent 1resent 1resent 1resent 1 8 1resent

Year

Position

Äť Äť Äť Äť Äť

Äť Äť Äť Äť

Company

&xpressway and 3apid Transit "uthority of Thailand &T"

Master "d 1lc.

-andy Development $o., -td. &sso Standard Thailand $o., -td. Siam $ity $ement 1ublic $o., -td.

Thai "ppraisal Foundation "lumni "ssociation of the Faculty of &ngineering, $hulalongkorn 6niversity Dai Ichi $orporation 1lc. Master and More $o., -td. Master "d 1lc.

-andy Home Thailand $o., -td. Hitachi ;osen $o., -td.

/ikko 1lanning Development $o., -td. /ikko Thonburi $o., -td. Master and More $o., -td. InkKet Images Thailand $o., -td. Take " -ook $o., -td. Master "d 1lc.

Working Experience

Managing Director Managing Director Director Director Director $hulalongkorn 6niversity Director &xecutive 5SBJOJOH DPVSTF : 5IBJ *OTUJUVUF PG $ommittee 1 88 1resent Managing Director %JSFDUPST *0%

Director "ccreditation 1rogram 1 86 1 88 Structural &ngineer for D"1 33 05 the hanging bridge Master of #usiness "dministration, 1resent Director Thammasat 6niversity 1resent Director MSc Structural &ngineer , "sia Technology Institute 1resent Managing Director #Sc &ngineering , $ivil 1resent Director 1 8 1resent Director &xecutive &ngineering, $hulalongkorn 6niversity $ommittee 5SBJOJOH DPVSTF: 5IBJ *OTUJUVUF PG 1 2 2002 Director 1 87 1 88 1roKect &ngineer %JSFDUPST *0%

Director "ccreditation 1rogram 1 85 1 87 1roKect &ngineer D"1 7 04 Director $ertiĹłcation 1rogram D$1 65 05 Mini M#", Thammasat 6niversity 1 8 1resent Director &xecutive $ommittee "ssociate Degree , 3aKamangala 6niversity of Technology, 1 81 1 Director of building #angkok Technology $ollege maintenance and cleanliness

Äť MSc &ngineering , $ivil &ngineering, Tokyo 6niversity Äť Master of #usiness "dministration, Thammasat 6niversity Äť #Sc &ngineering , $ivil &ngineering,

&EVDBUJPO :

131

52 none

55 none

8. .S. 1PSOTBL -JNCPPOZBQSBTFSU

Äť Äť Äť Äť Äť Äť Äť Äť Äť

&EVDBUJPO :

5SBJOJOH DPVSTF: 5IBJ *OTUJUVUF PG %JSFDUPST *0%

Director "ccreditation 1rogram D"1 33 05 none M#", 6niversity of 8isconsin, Madison, 6S" #." in &conomics, $hulalongkorn 6niversity 5SBJOJOH DPVSTF : 5IBJ *OTUJUVUF PG %JSFDUPST *0%

Director $ertiĹłcation 1rogram D$1 20 02 none High Diploma in "uditing, $hulalongkorn 6niversity #", in "ccounting, $hulalongkorn 6niversity 5SBJOJOH DPVSTF : 5IBJ *OTUJUVUF PG %JSFDUPST *0%

Director "ccreditation 1rogram D"1 76 08

Age % of share Relation holding : among family within the Company :

7. .S. 1SBTFSU 7JSBTBUIJFOQPSOLVM

6. .S. 7JDIJU %JMPLXJMBT

Name â&#x20AC;&#x201C; Last Name Position

State 3ailway of Thailand

Company

Star1etroleum 3eĹłning $o., -td.

Minerva Development $o., -td. 1epsi $ola Thai Trading $o., -td.

Sony Thai $o., -td.

S#$ 8arburg 1remier Securities

6S, "nti Dumping on Frozen Shrimp Thai Strategic $apital $o., -td.

"sian Seafoods $oldstorage 1ublic $o., -td. Dai Ichi $orporation 1lc. Imco Foodpack $o., -td.

$oncept Training and $onsultant $o., -td. Managing Director Independent Director and $apital /omura Securities 1lc. "udit $ommittee

200 1resent Vice 1resident 2008 1resent Director 2004 1resent "dvisor Financial "ccounting 2005 2010 "dvisor 1 8 2003 Director Äą Financial $ontroller 1 3 1 8 "ssistant Managing Director 1 1 1 2 $orporate 1lanning and $ontrol Division Manager 2003 Managing 1artner 1 3 "rea $ontroller Äą Southeast "sia 1 2 ManagerÄą"ccounting, Treasury Tax

1resent 1resent

1 63 1 81 $hief, #angkok location

Year

Working Experience

132

9. .ST. 6CPMSBU #IPLBNPOXPOH

10. .JTT. 5BNPOXBO /BSJOUIBWBOJDI

Name â&#x20AC;&#x201C; Last Name

0.024

none

Äť #achelor of "ccounting, Thammasart 6niversity Äť #achelor of -aws, Thammasart 6niversity Äť Master of 1ublic "dministration,

&EVDBUJPO :

Äť Äť Äť Äť Äť Äť

Äť Äť Äť Äť Äť

/ational Institute of Development "dministration Master of "rts, $hulalongkorn 6niversity 5SBJOJOH DPVSTF : 5IBJ *OTUJUVUF PG %JSFDUPST *0%

Director "ccreditation 1rogram D"1 80 0 M#" of Financial, 6niversity of none the Thai $hamber of $ommerce #achelor of "ccounting, Sukhothaithammathirat 0pen 6niversity 5SBJOJOH DPVSTF : 5IBJ *OTUJUVUF PG %JSFDUPST *0%

Director "ccreditation 1rogram D"1 76 2008 Finance for non Ĺłnance Director 0UIFS 5SBJOJOH $orporate Secretary 1rogram 12 2005 Financial for non Finance Director 2010

5SBJOJOH DPVSTF : 5IBJ *OTUJUVUF PG %JSFDUPST *0%

none

% of share Relation holding : among family Age within the Company : Position

1 6 2000 1 8 1 0 1 86 1 8 1 83 1 84

2001 2004

2005 200

1resent 1resent 2010 2012

1resent 1resent 1resent

Director $ompany Secretary "sst. $&0 "ccounting Financial Director Director "ccounting Financial Director Deputy "ccounting Financial Director "sst. "ccounting Financial Director "ccounting Manager "ccountant "sst. "ccountant "sst. "ccountant

2011 1resent Independent Director "udit $ommittee 2004 1resent $onsult 2004 2006 Special Instructor 2004 $onsultant 1 77 2003 "uditor

Year

Company

Mavster "d 1lc. 6mnart "ssociate $o., -td. Vissavasahaphan $o., -td. $entury $ycle $o., -td

Master "d 1lc.

Master and More $o., -td. InkKet Images $o., -td. Master "d 1lc.

Master "d 1lc. Master "d 1lc. Master "d 1lc.

Thai Dairy Industry $o., -td. #angkok 6niversity Standard $hartered nakornthon 1lc. 3evenue of Department

Master "d 1lc.

Working Experience

133

Age

Name - Last Name

1. .S. :BOJT 5JQBLPSO

2. .S. "QJTJU $IVFODIPNQPP

3. .S. +VUIB +BSVCPPO

Äť

"dministration 1olice $adet School Finance for non Finance &xecutive ,M School 2008

Äť #achelorâ&#x20AC;&#x2122;s Degree in 1ublic

"rt &ducation Hons. $hulalongkorn 6niversity

Äť #achelor of &ducation

$hulalongkorn 6niversity

Äť #achelor of "rts

Education

Executive Managementâ&#x20AC;&#x2122;s ProďŹ le

0.027

none

Amount of Share (%) Position

$hief Innovation 0fĹłcer (eneral Manager $reative Director $reative Director $reative (roup Head Senior $opywriter $opy 8riter $opy 8riter "sst. $&0 #usiness Innovation $erative &vent 2011 1resent &xecutive Director 2011 1resent Director 200 2010 $onsultant 200 2010 $hief &xecutive 0fĹłcer 200 2010 $hief &xecutive $onsultant 2006 2007 $hief &xecutive 0fĹłcer 2003 2006 Managing Director 2002 2003 $hief &xecutive 0fĹłcer 2001 200 $&0 2000 2001 Managing Director 1 6 1 Vice 1resident M,T

1 4 1 5 Marketing Sale Manager 1 3 1 4 Deputy Managing Director 1 1 1 3 "ccount Director 1 85 1 2 1ropagandist "ssistant $&0 #usiness 3elation 1resent (eneral Manager 1 8 2004 Manager 1 0 1 8

1resent 2004 2006 2003 2004 1 6 2003 1 0 1 6 1 85 1 0 1 84 1 85 1 82 1 84 1resent

Year

Company

Max $reative $o., -td. (reen "d $o., -td. /arai 1hand $o., -td. IT 1rofessional $o., -td. Health food $o., -td. &lite 1roperty $o., -td. Dueyklao $o., -td. "head Marketing $o., -td. " 1lus (roup $o., -td. #angyai $oncrete 1roduct $o., -td. 3iver ,wai International 1lc. 3angsit 1laza $o., -td. /uovo &ntertainment $o., -td. Victor $hiem $o., -td. Siam $ement 1lc. Master "d 1lc. "irline #usiness School 1aciĹłc -eather $o., -td.

Master "d 1lc. Dentsu 1lus $o., -td. #ezz $o., -td -ow 8orld 8ide $o., -td. Fareast "dvertising $o., -td. -eo #ernet $o., -td. Fareast "dvertising $o., -td. $1 S "dvertising Master "d 1lc.

Working Exeperience

134

5. .S./BSBUI 1BZBLBOJUJ

Age

4. .ST. 6SBJXBO #PPOZBSBUUBQIBO

Name-Last Name

Äť

Äť Äť

administration DhurakiK 1undit 6niversity #achelor of History, ,asetsart 6niversity 2uality and Standard, Thailand 1roductivity institue The Master of #usiness "dministration in (eneral Management, $ollege of Management, Mahidol 6niversity The #achelor of #usiness "dministration in Marketing, "ssumption 6niversity

Äť Master degree of public

Education

Executive Managementâ&#x20AC;&#x2122;s ProďŹ le

none

0.008

Amount of Share (%)

1resent 2011 2011 2003 2000 1 7 1 6

2010 2012 2003 200 1 2000 1 7 1 1 2 1 3

1resent

Year

1roduct Manager 1roduct Manager Marketing "ssistant Department Head

"ssistant $&0 Marketing Sales #rand Manager Senior #rand Manager

"ssistant $&0 "dministration Human 3esource "dministration Director "cting "dministration Director Deputy "dministration Director "dministration Manager "ccountant

Position

Company

Master "d 1ublic $o., -td. The Swatch (roup Thailand $o., -td. Diageo Moet Hennessy Thailand

-imited I$I 1aints Thailand $o., -td. Sara -ee Thailand -imited 3emy Thailand -imited $encar $o., -td.

Master "d 1lc. Master "d 1lc. Master "d 1lc. Master "d 1lc. Technology Source International

Master "d 1ublic $o., -td.

Working Exeperience

135

1, ID "1, ID D, &$, $&0 & & & ID, "$ ID, $ ID, $ D, S, "

Master Ad Plc.

D D

Take A Look Co., Ltd.

Associate Inkjet Immages (Thailand) Co., Ltd.

Green Ad Co., Ltd.

Max Creative Co., Ltd.

Maco Rite Sing Co., Ltd.

D D D

Master & More Co., Ltd.

Subsidiaries

1 $hairman, "1 Vice $hairman, D Director, ID Independent Director, "$ $hairman of the "udit $ommittee, $ "udit $ommittee, &$ $hairman of The &xecutive $ommittee, & &xecutive $ommittee, $&0 $hief &xecutive 0f킬cer, S $ompany Secretary, " "ccountin Financial Director

1ol. Sub. -t. ,riengsak -ohachala Mr. 1arames 3atchKaibun Mr. /oppadon Tansalarak Mr. 1hiched Maneerattanaporn Mr. Tawat Meeprasertskul Mr. Vichit Dilokvilas Mr. 1rasert Virasathienpornkul Mr. 1ornsak -imboonyaprasert Mrs. 6bolrat #hokamonwong Miss Tamonwan /arintavanich

/PUF :

1. 2. 3. 4. 5. 6. 7. 8. . 10.

Name

Detail the #oard of Directors and Management of Master "d 1lc. Subsidiaries and associates as of December 31, 2011

136

137

General Information $PNQBOZ /BNF 3FHJTUSBUJPO /P. 5ZQF PG #VTJOFTT 3FHJTUFSFE DBQJUBM 1BJEÄąVQ DBQJUBM 1BS WBMVF

: Master "d 1ublic $ompany -imited M"$0

: 0107546000113 : 1roviding advertisement services through the supply of 0ut of Home Media and engagement in the Ĺłled fo &ntertainment : 175,000,000 #aht : 174, ,563 #aht $omprised of 174, ,563 ordinary shares : 1 #aht

*OWFTUNFOU JO KVSJTUJDF FOUJUZ 5ZQF PG #VTJOFTT

1SPQPSUJPO PG TIBSFIPMEJOH

Master More $o., -td.

100.00 From paid up $apital

1rovide service and production of small sized billboard Maco 3ite Sign $o., -td. 1roduce Tri vision equipment drastically -andy Development $o., -td 0fĹłce rental business Take " -ook $o., -td. #usiness pertaining to electronic billboard InkKet Images Thailand $o., -td. #uilt up in order to offer computerized advertising graphics (reen "d $o., -td. 1roviding advertisement services through the supply of Tree wall panel. Max $reative $o., -td. &vent creative and management service to the market.

80.00 From paid up $apital 48.87 From paid up $apital 33.33 From paid up $apital 33.33 From paid up $apital 51.00 From paid up $apital 50.00 From 1aid up $apital

)FBERVBSUFS 0GĹłDF

: 1 4th 6th Floor Soi -adphrao 1 , -adphrao 3oad, +omphol, $hatuchak, #angkok, 10 00 5FMFQIPOF : 0 2 38 3388 Fax. 0 2 38 348 8FCTJUF : http www.masterad.com *OWFTUPS 3FMBUJPO BOE $PSQPSBUF 4FDSFUBSZ %FQBSUNFOU : Tel. 0 2 38 3388 &xt. 487 Fax. 0 2 38 348 &NBJM "EESFTT : ir!masterad.com

3FGFSFODF %VUJF PG 4FDVSJUJFT 3FHJTUSBS : Thailand Securities Depository $o., -td. TSD 62 The Stock &xchange of Thailand #uilding. Tel. 0 222 2800 $all $enter 0 222 2886 "VEJUPS (rant Thornton $ompany -imited by Mr. Somckid Tiatrakul and Mrs. Sumalee $hokede anun "EESFTT : 18th Floor $apital Tower "ll Season 1lace 87 1 8ireless 3oad, #angkok 10330 5FMFQIPOF : 0 2654 3330 'BY : 0 2654 333

138

Nature of Business

Background

&stablished in 1 88, by Mr. /oppadon Tansalarak, with a registered capital of #aht 600,000 Master "d $o., -td. aimed to primarily provide services and production of advertising media and entertainment signs, targeting at 0ut of Home "dvertising Media. The early main products of the $ompany were advertising and public relation billboards. -ater, a foreign technology called Trivision with a prism technique Äą rotating 3 pictures on one sign was applied in large and small signs depending on clientsâ&#x20AC;&#x2122; requirements and locations. Today, Master "d has developed technology to respond to any clientsâ&#x20AC;&#x2122; requirements under the concept of Äś0HM Solution 1rovider in line with its slogan ÄśThe -eader in 0HM Solution 1rovider.Äˇ Outstanding Developmental Highlights

1 3

Introducing the device with new driving technology which allowed of displaying three slides per billboard as well as customizing turnover in all directions. For instance, Tri vision billboards of both large and small sizes could be Ĺ´ipped over from left to right and top to bottom to serve speciĹłc purposes and sites.

1 4

Increasing the $ompanyâ&#x20AC;&#x2122;s issued and paid up capital to 3,000,000 baht. Introducing the applications of engineering technology to billboard creation through the construction of Mono 1ole and Double 1ole in place of Steel Truss.

1 5

Increasing the $ompanyâ&#x20AC;&#x2122;s issued and paid up capital to 6,000,000 baht.

1 6

$o investing with InkKet Images M SD / #HD $ompany -imited Malaysia in establishing InkKet Images Thailand $ompany -imited. The Koint venture produced billboard both indoors and outdoors in various forms. $o investing with Master $lear $hannel International $ompany -imited, a #ritish leading billboard company, to form Master and More $ompany -imited. Master "d 1$- held 51 shareholding, valued at 10.20 million baht in capital. The purpose of this companyâ&#x20AC;&#x2122;s inception was to produce the billboard of smaller than 60 square meter in area.

1 6 2001

&xpanding its business to cover other billboard types to provide its customers with a wider variety of technological options, such as Dyna Vision, Focus Display, $ity vision, #alloon, "irship, etc.

2002

Increasing the $ompanyâ&#x20AC;&#x2122;s issued and paid up capital to 100,000,000 baht. 1ioneering the application of IS0 001 2000 granted by the 6nited 3egistrar of Systems -imited 63S , &ngland, into its billboard business operation in Thailand under the slogan, Äś$reate Media with 2uality.Äˇ

2003

Increasing the $ompanyâ&#x20AC;&#x2122;s issued and paid up capital to 125,000,000 baht. The $ompany was, then, transformed into a public company, expressing its readiness for selling its shares to the general public and being listed in the M"I stock market. The corporate shares were Ĺłrst distributed among investors on September 2 , 2003.

139

+ointly investing with 3ite Sign 0/M Sweden "b, Sweden in order to set up Maco 3ite Sign $ompany -imited with a starting capital of 5,000,000 baht. In the Koint venture, Master "d 1$- owned 80 of the entire shares. The establishment of Maco 3ite Sign $o., -td. was mainly aimed to manufacture Tri vision driving mechanism in place of importing such devices. For the beneĹłts of Master "d 1$-, 50 of its capital for importing the tri vision driving system decreased, whereby, Master "dâ&#x20AC;&#x2122;s market shares and incomes automatically increased. 1urchasing and holding 48.87 shares of -andy Development $ompany -imited. The beneĹłt gained from such shareholding was the deployment of the new real estate proKect located at the entrance of Soi -ad 1hrao 1 . +ointly investing in Take " -ook $ompany -imited with 25 shareholding. 2005

Increasing the investment in Take " -ook $ompany -imited by purchasing additional shares, thereby, increasing its shareholding from 25 to 33.33 .

200

Focusing on market and customer base expansion by creating value added and innovative speciĹłcally in terms of services in the new media, marketing promotions and activities, coupled with development of its service quality and existing advertising media to be accepted among and fully satisfy customers in collaboration with both local and overseas business partners. 6pgrading its IS0 001 2000 to IS0 001 2008, resulting in a more straight forward performances and more efĹłcient and effective application to the corporate Kobs. Developing Master "d personnel to strive for the highest standard so that their $ompany can become a leading company under the slogan, ÄśTotal Solution 1rovide.Äˇ

2010

1urchased 650,000 shares of Master More $o., -td. from $lear $hannel 1aciĹłc 1te. -td. making the $ompany the shareholder in Master More $o., -td. of 2,000,000 shares, representing 100 equity. +oint venture with 8e #ig $o., -td. to operate (reen "d $o., -td. providing advertising services and contract manufacturing for on wall plants panel advertising media for both external and internal the residents, with a registered capital of 5 million #aht, divided into 1,000,000 ordinary shares of 5 #aht each. Master "d 1ublic $o., -td. held 51 and 8e #ig $o., -td. held another 4 of shareholding.

2011

+oint venture with Index $reative Village 1ublic $o., -td., to set up Max $reative $o., -td. to provide promotional services and production of advertising media for both in and out of home advertisings, with a registered capital of 5,000,000 #aht divided into 50,000 shares of 100 #aht each. Master "d 1ublic $ompany -imited holds in the proportion of 50 and Index $reative Village 1ublic $o., -td., holds another 50 stake. In association with Index $reative Village 1ublic $o., -td., Design 103 International $o., -td. and Design 103 $o., -td. To set up a Koint venture company named +oint Venture Index D103 Marco to handle a contract made with the Department of Marine and $oastal 3esources, Ministry of /atural 3esources and &nvironment to design and arrange the exhibition area for Thailand in the Äś:eosu International &xposition 2012Äˇ at the city of :eosu, the 3epublic of ,orea during the period from 12 May 2012 till 12 "ugust 2012. Master "d holds 20 stake.

140 Master "d 1ublic $o., -td. received the S&Tâ&#x20AC;&#x2122;s Top $orporate (overnance 3eport "wards, in S&T "wards 2011, as a listed company in mai with the highest score on good governance report. Improving the $ity Vision media at 20 #TS stations, a total of 188 signs with modern style to create a better distinction and add value to the advertising and the products and advertising. Master "d 1ublic $o., -td. was selected as one of "siaâ&#x20AC;&#x2122;s 200 #est 6nder a #illion, resulted from the search of top 00 companies across the "sia 1aciĹłc region with the growth in both sales and earnings from 5 million 1,000 million 6S dollars. Master "d 1ublic $o., -td. has won two prestigious awards, including the #est $&0 "wards, and the #est 1erformance "wards in M"I Stock &xchange at the S&T "wards 2012, organized by the Stock &xchange and the #anking and Finance +ournal on /ovember 22, 2012. Overview of Entrepreneurship of the Companyâ&#x20AC;&#x2122;s Group

*OWFTUNFOU 4USVDUVSF PG UIF $PNQBOZ BOE *UT 4VCTJEJBSJFT

Master Ad Public Company Limited 10

Master and More e Co., Ltd.

80 %

Marco Right Sign Co., Ltd. 33 .

Inkjet Images 33% (Thailand) Co., Ltd.

87 Landy % Development Co., Ltd.

Green Ad Co., Ltd.

Max Creative Co., Ltd.

Take A Look Co., Ltd. 50

.BTUFS "E 1VCMJD $P., -UE. &stablished to provide advertising services and production of advertising signs, media and large billboards, Master "dâ&#x20AC;&#x2122;s primary revenue today comes from the rent of advertising signs and production of advertisements Äą billboards, malls, made to order. Today, Master "d provides fully integrated services as the -eader in 0HM Solution provider. .BTUFS BOE .PSF $P., -UE. &stablished to provide services and produce advertising media, Master and More sets priority in small advertising boards such as #TS $ity Vision, $ity Vision Flyover, $ity (rip -ight, #TS 8alkway, Morchit, Siam Square #illboards, etc. Master and More is a co investment between Master "d and $lear $hannel International $o., -td., producer of leading advertising media in &ngland with long experience in the business at the ratio of 67.5 to 32.5 In 2010, Master "d 1ublic $o., -td. bought all the Master and Moreâ&#x20AC;&#x2122;s shares from its partner and subsequently Master "d today holds 100 stake in Master and More. However, $lear $hannel International $o., -td. remains a good business partner for overseas advertising business through $lear $hannel Internationalâ&#x20AC;&#x2122;s network as well as overseas advertising information support.

141 *OLKFU *NBHFT 5IBJMBOE $PNQBOZ -JNJUFE This subsidiary is built up in order to offer computerized advertising graphics with inkKet printer. 1resently, InkKet Images Thailand $ompany -imited provides customers with quality devices including Vutek 1rinter 18 Dpi, Salsa 1rinter 300 Dpi, Vutek 1rinter 300 720 Dpi, Motoh Value +et, H1 Design +et, and H1 Scitex 912300. These printers can print out advertising graphics on to the following three types of material. Äť Vinyl Vinyl is plastic mixed with other compounds to increase Ĺ´exibility, to endure gravity, and to gain more strength. This type of material is suitable for graphics on billboard. Äť Sticker Vinyl This substance is appropriate especially for Tri vision billboard media. Äť 1erforated Sticker Vinyl This material suits graphics on mirrors, e.g. mirrored building walls, mirrored doors, etc. InkKet Images has Ĺłrst introduced H1 Scitex 912300, which is a printer with high speed and great clarity, making Master "dâ&#x20AC;&#x2122;s work pieces more beautiful and more real. This new printer not only creates good images to the clientsâ&#x20AC;&#x2122; products but also disposes of its ink smell, thereby powerfully reducing air pollution in the surroundings of the factory. In 200 the inkKet image Thailand has expanded its branches at Soi -azarn 56 in order to enhance the competitive operation of the print. .BDP 3JUF 4JHO $PNQBOZ -JNJUFE This company was founded in order to run businesses in relation with production and provision of Tri vision equipment for both local and overseas clients. In this regard, Master "d 1$- gains huge beneĹłts from cost retrenchment due to diminution of importing driving winding mechanisms required for the Tri vision system. -BOEZ %FWFMPQNFOU $PNQBOZ -JNJUFE This company was set up in order to provide ofĹłce rent. Master "d is renting an ofĹłce of -andy Development $o., -td. on -at 1hrao 3oad, Soi -at 1hrao 1 , as Master "d is of the opinion as its beneĹłts gained. 5BLF B -PPL $P., -UE. Take a -ook $o., -td. was established by Samart Info Media -imited and Master "d 1ublic $o., -td. to do business regarding electronic display billboard called -&D #illboard. -&D #illboard has been sold to $entral 8orld (roup and Take a -ook has no additional business after the Sales Mangement and Media $ontract expired. The shareholders, currently, are considering operation plans for the future. (SFFO "E $P., -UE. &stablished by co investment between Master "d 1ublic $o., -td. and 8e #ig $o., -td., (reen "d $o., -td. provides advertising services and production of plant wall advertising media both out of home and in home, highlighting vertical gardens to sustainably copy with global warming in community and society. Äś&OWJSPONFOUBM 4USBUFHJFTÄˇ have been applied to the theme of Äś/BUVSBMMZ *OOPWBUJWFÄˇ. The initiatives have led to advertising market expansion to meet every customer demand. .BY $SFBUJWF $PNQBOZ -JNJUFE Max $reative 1ublic $ompany -imited is a Koint venture between the $ompany and Index $reative Village 1ublic $o., -td. to provide services and contract manufacturing for advertising media as well as promotional activities for both inside and outside home advertisings with the obKectives to increase the market share in the out of home media 0HM and event markets, and to enhance the growth of the organization for "S&"/ in terms of ideas, and creativity in advertising and public relations.

142 Revenue Structure

3evenue structure of Master "d 1ublic $o., -td. and its Subsidiaries 6nit million #aht

Revenue structure

3evenue from services 3evenue from production 3evenue from sales 0thers Total

2012

2011

2010

amount

621.8 110.48 0.02 17.32 74 .71

82. 5 14.74 2.31 100.00

543.33 1.57 0.63 8.87 644.40

84.32 14.20 0.10 1.38 100.00

414.21 84.68 .44 508.33

81.48 16.66 1.86 100.00

Our Objective:

Master "d 1ublic $ompany -imited is the leader in out of home advertisements solution provider as well as consultancy, planning and production of 2 principal 0HM as follows 1. ."$0 4QBDF Äť #illboard Äť Street Furniture Äť Transit 2. /PO ."$0 4QBDF Äť Made To 0rder Äť &vent Investment Policy in Subsidiaries and AfďŹ liates

$oncerning investment policy in subsidiaries and afĹłliates, the $ompany will invest in businesses related to the 0HM both directly and indirectly. 8e will consider the proportion of each investment based on business trends. If it has a chance to succeed and can support the current business operations, then the $ompany will invest in a substantial proportion to enable the $ompany to get involved with the management and setting policies. Industry trends and competitive conditions in the industry

In 2012, the industry has grown with more stability based on the expansion of the economy, more spending on consumption and competition of the business sector that requires advertising to boost sales and supporting the creation of new products as well as brands. In the meantime, the government has been expected to spend the budget to promote proKects in order to stimulate the economy. The advertising industry in 2012 was valued at 1.17 billion #aht, which is an increase of 12.42 comparing to 2011 or up over 1.3 billion #aht. The ad spendings in all media ihas increased except those for the magazine.

143 6nit Million #aht Type of Media

2012

2011

Changes in

% of Growth

Value

TV 3adio /ewspaper Magazine $inema Internet 0ut of Home Media Total

68,105,054 6,348, 27 15,182,670 5,220,532 12,112,654 572,502 10,217,205 117,75 ,543

57.83 62,238,071 5.3 5, 17,651 12.8 14,541,0 2 4.43 5,824,258 10.2 7,224,032 0.4 470,007 8.68 8,53 ,071 100 104,754,182

5 .41 5.65 13.88 5.56 6. 0 0.45 8.15 100

5,866, 83 431,276 641,578 603,726 4,888,622 102,4 5 1,678,134 13,005,361

.43 7.2 4.41 10.37 67.67 21.81 1 .65 12.42

3FNBSLÇ° Ç°5PUBMÇ°*OEVTUSZÇ° Ç°&YDMVEFÇ°4FDUJPOÇ° Ç°$MBTTJĹłFE Ç°)PVTFÇ°BET Ç°3FGFSFODF Ç°5IFÇ°/JFMTFOÇ°$PNQBOZÇ° 5IBJMBOE Ç°-UE The growth of out of home media 0HM advertising in 2012 is 1 .65 of 2011 with a total of 10,217 million #aht or 1,678 million #aht more comparing with a total of 8,53 million #aht in 2011. The overview growth of the 0HM in 2012 grew 7.23 over the advertising industry covering all types of media, including billboards, both large and small at 4,524 million #aht or 5.7 increase, transit of 2, 5 million #aht or 11. increase, and in store media 2,732 million #aht or 68.85 increase respectively. Such growth of the 0HM was resulted from economic growth and the peaceful political situation. The products and brands have spent the budget in advertising and marketing communications to generate sales and encourage consumersâ&#x20AC;&#x2122; buying power consistently. The automotive industry, the real estate sector, and consumer products, in particular, are the primarily groups using the 0HM. The increased expenditures during the Ĺłrst half resulting in the overall growth. During the year, the telecom business which launched 3( technology also played a maKor role in the use of the 0HM as well. "nother key factor to the growth of the 0HM in 2012 was because of creative ideas have been becoming more available than ever before including the combination of digital media to present ÄśTalk 0f The TownÄˇ work piece to attract the targets. Therefore, various products have turned to the 0HM to create brand awareness in order to reach the consumers instead of using the mainstream media. The 0HM with new innovations all the time has become a favorable choice. It is expected that the advertising industry in 2013 as a whole will be more stable. There are 3 aspects that contribute to such stability 1. 8age increases will result in consumer spending. 2. (overnment will spend more budget in advertising that will stimulate the consumer market. 3. The opening of "S&"/ &conomic $ommunity or "&$ will result in foreign investors to do more business in Thailand. Moreover in 2013, the most interesting media is digital media. -ifestyle of the consumers of Thai people is becoming more privacy but they still need an online society. There are more than one platform used by the consumers. :ounger people also want to spend their life outside the home. Therefore, digital media, in store media, and 0HM continue to grow. The marketers need to respond to the market to cover all consumersâ&#x20AC;&#x2122; needs. "lso, digital 0HM is gaining more popularity, especially the -&D. MaKor roads in #angkok will have more -&D monitors in the very near future including the interactive billboard of the -ocation based "dvertising which will be used in the areas where there a lot of activities to meet the demand of the new generation. The 0HM has been well accepted not only by the marketers in #angkok but also by the marketers in the maKor provincial areas which have similar infrastructure like #angkok, i.e. modern trade, airport, real estate and others. The opening of "S&"/ &conomic $ommunity or "&$ will stimulate not less than 10 provincial cities soon to be connected to neighbouring countries. There will be expansion for shopping malls, hyper markets, fastfood chains, home furnitures centres. "ll these will affect the life styles of local consumers and will result in more growth for 0HM in these provinces.

144 The "&$ policy will turn the maKor and secondary provinces into the maKor cities in developing the regional economic zone as transportation corridor and trade links with neighboring countries in the near future, such as Tak, ,anchanaburi, 1hitsanulok, 6bon 3atchathani, 6don Thani. Friendship #ridges will be the maKor channel to connect the economic areas between Thailand and neighbouring countries. 8ithin "&$â&#x20AC;&#x2122;s framework, the high speed train will also be a megaproKect for the regionâ&#x20AC;&#x2122;s economic growth and connection. These factors will give the people in the provinces with higher purchasing power. (rowth of modern trade to the provinces will also make the people live more in the local because the facility is no different from the capital. Therefore, the products and brands need to set the communications strategy to reach rural consumers through more 0HM. Due to this trend, the 0HM both billboards, in store media, including mobile media in the provicial areas will have growth based on the economic development policy. It is expected that during these 3 years until "&$ in 2015, the growth will be at a rate of 25 30 continuously every year. In 2012, Master "d $o., -td. 1ublic has focused on the role of the cutting edge technology together with being creative and innovative as well as event marketing. More attention has been paid to the needs and consumer behavior so that the 0HM can offer a breakthrough presentation with even more value. The $ompany has seen things differently about the innovation of the 0HM. The 0HM is not limited to space like other types of media and does not have any Ĺłx rule in the production but is limited by the budget in relation to communication ideas. It is obvious that many outstanding 0HM ads have been created beyond the rules concerned by other media. "n outstanding feature of the 0HM is that it is visible and tangible thus enable the 0HM to deliver Äś3eliabilityÄˇ, ÄśSatisfactionÄˇ, and ÄśIntention to #uyÄˇ for a strong brand and long term success. Success is depended on how effective the media can reach and attract the consumers. Therefore, innovative technology is a powerful choice to interact with the consumers.

145

Shareholding & Organizational Structure

Share holding structure

4IBSFT PG UIF $PNQBOZ

"s of 31 +anuary 2013, the $ompany recorded registered capital of TH# 175 million, comprising 174. million common shares at registered value of TH# 1 per share. .BKPS TIBSFIPMEFST MaKor shareholder’s report as of 31 1 2013 prepared by Thailand Securities Depository $o., -td. Paid Up Capital Shareholders

1. 2. 3. 4. 5. 6. 7. 8. . 10.

/oppadon 1hiched Tawat Vichit $honlada Taweerat /uchvaree ,itiya Supaporn 0ther 5PUBM

Tansalarak Maneerattanaporn Meeprasertskul Dilokvilas Fuwattanasilpa 1rungpattanasakul "tchanapornkul $hantaranima +indamaneeroK

35,534,7 3.00 34,546,462.00 1 ,483,702.00 , 46,673.00 7,30 ,220.00 3,502,000.00 2,572,500.00 2,527,74 .00 2,27 ,200.00 57,2 7,563.00 174, ,563.00

20.31 1 .74 11.13 5.68 4.18 2.00 1.47 1.44 1.30 32.74 100.00

%JWJEFOE 1BZNFOU 1PMJDZ The company establishes dividend payment policy to the shareholders at the rate of not less than 50 of net proųt after corporate income tax and legal reserves. However, this depends signiųcantly on the economic status and the future operations as well. %JWJEFOE 1BZNFOU 1PMJDZ 0G 4VCTJEJBSJFT The company establishes dividend payment policy to the shareholders at the rate of not less than 50 of net proųt after corporate income tax and legal reserves. However, this depends signiųcantly on the economic status and the future operations as well.

Chief Innovation Ofﬁcer

Innovation & Production Dept.

Administration

QMR. Committee

Marketing

Accounting & Financial

Asst. Chief Executive Ofﬁcer

Business Relation

Internal Audit

Audit Committee

Asst. Chief Executive Ofﬁcer

Chief Executive Ofﬁcer

Executive Committee

Board of Director

Asst. Chief Executive Ofﬁcer

Sales

Risk Management Committee

Asst. Chief Executive Ofﬁcer

Organization Chart

Project 3 (NIB)

Project 2 (Event)

Business Innovation Development Dept.

Asst. Chief Executive Ofﬁcer

146

147 Management Structure

#oard.

The $ompanyâ&#x20AC;&#x2122;s management structure features three #oards #oard of Directors, #oard of "uditors and &xecutive

4USVDUVSF PG UIF #PBSET $PNQPTJUJPO PG UIF #PBSE PG %JSFDUPST The composition of the #oard of Directors follows the rules of the 0fĹłce of Securities and &xchange $ommission S&$ as follows Äť Having Independent Directors at least one third of the total number of Directors, but not less than three persons Äť Having at least three "udit Directors %FĹłOJUJPO PG UIF #PBSE PG %JSFDUPST &YFDVUJWF %JSFDUPS refers to a person who has management authority, receiving monthly salary and appointed as a Director. /PO FYFDVUJWF %JSFDUPS refers to a director who has no managerial position in the $ompany, and no monthly salary *OEFQFOEFOU %JSFDUPS refers to a Director who has no managerial position but shall have qualiĹłcations as speciĹłed by S&$ and S&T. The structure and scope of duties and authorities of each #oard are detailed as follows Board of Directors

Directors are responsible for making operative decisions beneĹłcial to the $ompany, shareholders and interested parties. They specify vision, policy and budget in the operation Kointly with the management. They must have qualiĹłcations and not possess characteristics forbidden by the 1ublic $ompany "ct, and not have characteristics indicative of untrustworthiness to manage a public company as announced by the S&$. The number of Directors to be elected in a general meeting of shareholders shall not be less than Ĺłve and not more than 15. "t least one half of the Directors of the #oard shall be residents of the ,ingdom of Thailand. $urrently, the #oard features 10 Directors as follows 1. &ight /on executive Directors inclusive of Ĺłve Independent Directors 2. Two &xecutive Directors who are $hief &xecutive 0fĹłcer and Finance and "ccounting Director.

148 -ist of #oard of Directors and their shareholdings as of +anuary 1, 2013 Name - Last Name

1. 1ol. Sub -t. ,riengsak -ohachala

2. Mr. 1arames 3achKaibun 3. Mr. /oppadon Tansalarak 4. Mr. 1hiched Maneerattanaporn 5. Mr. Tawat Meeprasertskul 6. Mr. Vichit Dilokvilas 7. Mr. 1rasert Virasathienpornkul 8. Mr. 1ornsak -imboonyaprasert . Mrs. 6bonrat #hokamolwong 10. Miss Tamonwan /arintavanich

3FNBSL

Title

$hairman of the #oard of Directors Independent Director Vice $hairman Independent Director Director $hief &xecutive 0fĹłcer /on &xecutive Director /on &xecutive Director /on &xecutive Director Independent Director Independent Director Independent Director Director Deputy Director of the Finance and "ccounting Department

Appointment Lastst Shareholding Proportion of Date Appointment Shareholdeing Date (%)

"pril 22, 08 "pril 22, 11

/one

May 1 , 03 "pril 27, 12

/one

May 1 , 03 "pril 27, 12

35,534,7 3

20.31

May 1 , 03 May 1 , 03 May 1 , 03 "pril 22, 08 "pril 22, 08 "ugust 8, 11 "pril 22, 08

34,546,462 1 ,483,702 , 46,673 /one /one /one 41, 68

1 .74 11.13 5.68 0.02

"pril 22, 10 "pril 22, 10 "pril 27, 12 "pril 22, 0 "pril 22, 10 "ugust 8,11 "pril 22, 11

1. Including individuals associated with as deĹłned in 2 of the deĹłnition of Äśrelevant personÄˇ in Section 8 1

of the Securities and &xchange "ct and the related entity as deĹłned in 3 the deĹłnition of Äśrelevant personÄˇ in Section 8 1 of the Securities and &xchange "ct, to continue serving as an independent director. 2. The number of shares including those held by related ordinary persons as in 2 of the deĹłnition Äśrelated persons in "rticle 8 1 of the Securities "ct and related Kuristic entities as in 3 of the deĹłnition Äśrelated persons in "rticle 8 1 of the Securities "ct 3. Directors in the 3rd and 10th items are executives who have Koined in the &mployee +oint Investment 1rogram &+I1 .

Authorized Director on the Companyâ&#x20AC;&#x2122;s Behalf

The two directors who are authorized signatories on behalf of the company are Mr. /oppadon Tansalarak and Miss Tamonwan /arinthavanich whose signatures are both required together with the $ompany stamp.

149 Scope of Authority and Responsibility

The board members shall have the following authorities and responsibilities. 1. Manage the $ompany by deploying their best knowledge, capability, and experience for the best interest of the $ompanyâ&#x20AC;&#x2122;s business operation. Such management shall prudently abide by the $ompanyâ&#x20AC;&#x2122;s regulations, obKectives, by laws, and the shareholderâ&#x20AC;&#x2122;s meeting resolution, in order to retain the best interests of the $ompany and to assume its responsibilities for the shareholders. 2. 3eview and approve the $ompanyâ&#x20AC;&#x2122;s operational policies and directions proposed by the &xecutive $ommittee, except for issues which require approval of the shareholderâ&#x20AC;&#x2122;s meeting, including other issues which are required by the law to be assented by the shareholderâ&#x20AC;&#x2122;s meeting. 3. 0versee the &xecutive $ommittee to efĹłciently adhere to the stipulated policy. "dditionally, the #oard shall inform the &xecutive $ommittee to present issues in substance to the $ompanyâ&#x20AC;&#x2122;s operation as well as connected transactions, among many others, in conformity with the regulations and bylaws of the Securities and &xchange $ommission S&$ and the Stock &xchange of Thailand S&T . "s for the signiĹłcant decision for the business operation, the board members may seek specialized professional advice or comment from external consultants. 4. Supervise the $ompany adopting efĹłcient internal control systems and internal audits. In addition, the #oard has rights to decide and oversee overall operations of the $ompany, except for the following issues for which they require the approval from the shareholdersâ&#x20AC;&#x2122; meeting before operation. a. Issues which are required by the law to pass the shareholdersâ&#x20AC;&#x2122; meeting resolution Ĺłrst. b. Issues of connected transaction as stipulated by the rules and regulations of the Stock &xchange of Thailand on criteria, approach, and disclosure of a registered companyâ&#x20AC;&#x2122;s connected transaction. c. The purchase and sales of important property shall conform to the S&T rules and regulations on criteria, approach, and disclosure of receipt and disposal of a registered companyâ&#x20AC;&#x2122;s asset. DeďŹ nition of Independent Directors

refers to directors who have qualiĹłcations pertinent to independence as required by the announcement of the Stock &xchange of Thailand S&T on 2ualiĹłcations and Scope of 8ork of the "udit $ommittee, who can watch over all shareholdersâ&#x20AC;&#x2122; highest beneĹłts on an equitable basis whilst averting conĹícts of interest, and who can attend the board meeting and provide overtly commentary. Independent directors of the $ompany shall have the following qualiĹłcations. 1. Hold no more than 0.5 of the entire voting shares in the $ompany, conglomerates, its subsidiaries, Koint ventures, or Kuristic persons with potential conĹícts of interests, implicitly including related personsâ&#x20AC;&#x2122; shares. 2. Do not participate in the management are not employees, workers, consultants with salary and are not person with authority over the $ompany, conglomerates, its subsidiaries, Koint ventures, or Kuristic persons with potential conĹícts of interests at the present time and for at least two years before appointment . 3. Have no close natural relationships or registration in terms of parents, spouses, siblings, and children including childrenâ&#x20AC;&#x2122;s spouses with the management, maKor shareholders, authorized persons or persons who used to be nominated as management or authorized persons of the $ompany or its subsidiaries. 4. Have neither business connection nor beneĹłts or vested interests, both explicitly and implicitly, in terms of Ĺłnance and management of the $ompany, its subsidiaries, afĹłliates, Koint ventures, or persons, which may potentially lead to preKudice. 5. Have never been "uditor of the $ompany, conglomerates, subsidiaries, Koint ventures, or Kuristic persons who may have potential conĹícts of interests, nor maKor shareholders, non independent directors, management or management partner of an auditor ofĹłce which provides audit consultancy to the $ompany, conglomerates, subsidiaries, Koint ventures, or Kuristic persons who may cause conĹícts of interests, except for losing such status for no less than two years counting from the application date to the ofĹłce.

150 6. Have never been or was any professional adviser including legal or Ĺłnancial consultant whose fee is more than two million #aht a year for the $ompany, conglomerates, subsidiaries, Koint ventures, or Kuristic persons who may cause conĹ´icts of interests. In the event of Kuristic professionals, nonetheless, this clause shall include maKor shareholders, non independent directors, management or management partner of such professionals, except for losing such status for no less than two years counting from the application date to the ofĹłce. 7. Have never been appointed to represent the $ompanyâ&#x20AC;&#x2122;s director, its maKor shareholder, or shareholder who has connection with the maKor shareholder of the $ompany. 8. Having not more than 3 consecutive terms of ofĹłce or years. If the terms have been fulĹłlled, the #oard of Directors will consider whether he would qualify to continue serving as an independent director. . 1ossess any other qualiĹłcation which may hinder him or her from independently commentating on the $ompanyâ&#x20AC;&#x2122;s operation. Appointment, resignation and termination of Directors

The $ompanyâ&#x20AC;&#x2122;s "rticles of "ssociation say that Directors shall be appointed in a shareholdersâ&#x20AC;&#x2122; meeting. The number of Directors shall not be less than Ĺłve and one half of the Directors shall be local residents. In the event there is a vacancy from reason other than end of ofĹłce term, Directors shall elect a qualiĹłed person to replace him her in the next #oard Meeting. If a Director wants to resign, he she shall offer a notiĹłcation in writing and the resignation will take effect as soon as that notiĹłcation arrives at the $ompany. In each "nnual (eneral Meeting, one third of Directors shall retire. If the number cannot be divided in a round number, the retired number shall be closest to the one third. However, the retired Director can be reelected. 0ther than retirement at the end of ofĹłce term, a Directorship may be terminated by 1 Death, 2 3esignation, 3 -ack of qualiĹłcations or having forbidden characteristics per "rticle 68 of the 1ublic $ompany "ct #.&. 2535 1 2 , 4 Shareholders vote for termination in a shareholdersâ&#x20AC;&#x2122; meeting per "rticle 76 of the 1ublic $ompany "ct #.&. 2535 1 2 , 5 Termination by a court order, 6 0ther than termination by the speciĹłcations of the 1ublic $ompany "ct, a Director shall be terminated when he she demonstrates inappropriateness to receive conĹłdence in the management with the public as shareholders per "rticle 8 3 and shall not hold the Directorship any longer "rticle 8 4 of the Securities "ct #.&. 2551 2008 . Integration or Segregation of Posts

The $ompany has conspicuously separated the authority, duty, and responsibility of the $hairman of the #oard of Directors from those of the $hief &xecutive 0fĹłcer $&0 so that neither parties gain unlimited power. In this regard, the $hairman shall be an independent director and have no connection with the management. Recruitment of Directors

Since Master "d has no #oard of 3ecruitment, the #oard of Directors has speciĹłed a method of recruitment by allowing shareholders to nominate qualiĹłed persons based on their qualiĹłcations, experience and expertise in the branch which the $ompany is doing business, to be elected by the #oard on the one part, and on the other part reinstatement of Directors whose term ends based on their performance.

151 The #oard of Directors evaluate and select persons with appropriate qualiĹłcations and presents their names to the shareholders to elect as Directors in the "nnual (eneral Meeting of Shareholders by maKority votes of at least one half of shareholders with voting rights presented in the Meeting. In the event there is a vacancy of Directorship for reasons other than retirement by term, such as death or resignation, the remaining Directors may select a qualiĹłed person to replace him her in the following #oard meeting, without calling a shareholdersâ&#x20AC;&#x2122; meeting. #ut if the remaining term of the vacated Director is less than two months, the #oard shall not elect a new Director and shall wait for another shareholdersâ&#x20AC;&#x2122; meeting. The resolution of the #oard of Directors in the selection of the said additional Director shall be passed by three fourths of the number of the remaining Directors and the person who replaces him her shall be in ofĹłce only equal to the remaining term of the Director whom he replaces. Structure of Sub-Committee

The #oard of Directors appointed the following three sub committees to perform different duties in lieu as follows 1. Audit Committee

The "udit $ommittee of Master "d 1$- is appointed from the board members who have qualiĹłcations in accord with the announcement of the Securities and &xchange $ommission S&$ . There shall be at least three committee members. "t least one "udit $ommittee member thereof shall be highly knowledgeable and experienced in accounting and Ĺłnance enough to verify the reliability of the Ĺłnancial statements. "s at December 31, 2012, the "udit $ommittee of the $ompany comprises three independent committee members as follows Name - Last Name

Title

Remark

1. Mr. 1rasert Virasathienpornkul

$hairman, Independent Director "udit $ommittee 2. Mr. 1ornsak -imboonyaprasert $ommittee Member Independent Director, knowledgeable about accounting and Ĺłnance 3. Mrs. 6bolrat #hokamolwong $ommittee Member Independent Director, knowledgeable about accounting and Ĺłnance 4DPQF PG "VUIPSJUZ BOE 3FTQPOTJCJMJUZ The "udit $ommittee has the following scope of authorities and duties. 1. 3eview the $ompanyâ&#x20AC;&#x2122;s Ĺłnancial statement to verify its sufĹłcient accuracy and disclosure by collaborating with the external auditor and the executive who is responsible for the quarterly and annual Ĺłnancial reports. 2. Verify that the $ompany has appropriate ad efĹłcient internal control and internal audit systems by reviewing these systems with the external auditor and the internal auditor. 3. &nsure the $ompanyÄłs operation is compliant with S&T and S&$ rules, regulations as well as other laws related to the $ompanyâ&#x20AC;&#x2122;s business. 4. 3eview the $ompanyâ&#x20AC;&#x2122;s disclosure of connected transaction or a certain transaction which may creates conĹ´ict of interest to be accurate and comprehensive. 5. Take any other responsibilities assigned by the #oard of Directors and agreed upon by the "udit $ommittee, for example, reviewing Ĺłnancial management policy, reviewing the managementâ&#x20AC;&#x2122;s business code of conduct, and collaborating with the management in reviewing important reports to be publicly disseminated as stipulated by the law, e.g. executive summary.

152 6. 3eview the nomination, the appointment, and the remuneration package of the external auditor. 7. 1repare the "udit $ommitteeâ&#x20AC;&#x2122;s activity report for disclosure in the $ompanyâ&#x20AC;&#x2122;s annual report which shall be signed by the $hairman of the "udit $ommittee. Such report shall include the following information. 7.1 " remark on the production and disclosure procedure in the $ompanyâ&#x20AC;&#x2122;s Ĺłnancial report to ensure its accuracy, completeness, and reliability. 7.2 " comment on the sufĹłciency of the $ompanyâ&#x20AC;&#x2122;s internal control system. 7.3 " ground for the appropriateness of the external auditorâ&#x20AC;&#x2122;s reappointment. 7.4 " comment on the $ompanyÄłs operation compliant with S&T and S&$ rules, regulations as well as other laws related to the $ompanyâ&#x20AC;&#x2122;s business. 7.5 "ny other report deemed the shareholders or general investors should know under the authorities and responsibilities assigned by the #oard of Directors. /onetheless, the "udit $ommittee is disallowed to approve any transaction in which there are potential connections, equity, or conĹ´icts of interests between them or a third party and the $ompany or its subsidiaries. 5FSN PG 4FSWJDF "udit $ommittee members shall hold the ofĹłce as long as their terms as the $ompanyâ&#x20AC;&#x2122;s directors. 2. Executive Committee

The &xecutive $ommittee consists of the entirety of four members who shall be in ofĹłce for four years per term. The terminated committee member may be re elected. "t December 31, 2012, the &xecutive $ommittee comprises four persons as follows Name - Last Name

1. Mr. /oppadon Tansalarak 2. Mr. 1hiched Maneerattanaporn 3. Mr. Tawat Meeprasertskul 4. Mr. Vichit Dilokvilas

Title

Remark

$hairman, &xecutive $ommittee Member of $ommittee Member of $ommittee Member of $ommittee

&xecutive Director /on &xecutive Director /on &xecutive Director /on &xecutive Director

4DPQF PG "VUIPSJUZ BOE 3FTQPOTJCJMJUZ In order to adhere to the #oardâ&#x20AC;&#x2122;s policy, the &xecutive $ommittee shall assume the following authorities and responsibilities in managing the $ompanyâ&#x20AC;&#x2122;s operation. 1. $ontrol the $ompanyâ&#x20AC;&#x2122;s management by which the &xecutive $ommittee shall operate in accord with the policy speciĹłed by the #oard. The &xecutive $ommittee shall periodically report the $ompanyâ&#x20AC;&#x2122;s performance results to the #oard of Directors. More than half of the &xecutive $ommittee members shall attend the &xecutive $ommittee meeting. The &xecutive $ommitteeâ&#x20AC;&#x2122;s resolution shall be made by maKority vote, which shall be over half of the committee votes. The &xecutive $ommittee may deem appropriate to change or add, now and then, its meeting process, quorum determination, and voting procedure. 2. $onsider the annual budget, budget allocation for each work unit, each employeeâ&#x20AC;&#x2122;s authority and duty, and process of each work unit in their budget spending, and submit these Ĺłnancial reports to the #oard, and oversee the expenditures in accord with the budgetary plan approved by the $ompany. 3. &valuate each work unitâ&#x20AC;&#x2122;s performance results, determine the performance evaluation approach and process, as well as acknowledge the performance evaluation clariĹłed by the responsible personnel related to a particular work line.

153 4. 1eruse and adKust the business plan to suit the current economic situation for the best interest of the $ompany. 5. "pproval of investment and allocate investment budget of no more than 50 million #aht. 6. $onsider the $ompanyâ&#x20AC;&#x2122;s business engagement, or asset purchasing contract, or any action to obtain rights for the maximum beneĹłt of the $ompany. The budget shall not exceed the amount speciĹłed in Item 5 above. The &xecutive $ommittee is also required to stipulate the process and negotiation approach in entering into such contract. 7. $onsider making a contract involving money, loan, warranty, credit issuance within the budget of not more than 100 million #aht. The &xecutive $ommittee is also required to stipulate the process and negotiation approach in entering into such contract. 8. "mend or terminate the contract in substance as the &xecutive $ommittee deems appropriate. . $ompound with creditors, arbitrator, and court proceedings. 10. $onsider the transfer of the $ompanyâ&#x20AC;&#x2122;s rights and assets to another party, which is not the $ompanyâ&#x20AC;&#x2122;s regular trades, and submit such case to the #oard for perusal. 11. $onsider the transfer of the $ompanyâ&#x20AC;&#x2122;s rights and assets for liabilities with the third party, and submit such case to the #oard for perusal. 12. $onsider and submit the issue on the $ompanyâ&#x20AC;&#x2122;s proĹłts, losses, and annual dividend payment for the #oardâ&#x20AC;&#x2122;s perusal. 13. $onsider the business diversiĹłcation or end to submit for the #oardâ&#x20AC;&#x2122;s consideration. 1erform any action to support such operation or to abide by the #oardâ&#x20AC;&#x2122;s recommendations or the #oardâ&#x20AC;&#x2122;s authorization under the #oardâ&#x20AC;&#x2122;s policy. In this regard, the &xecutive $ommittee is unable to approve any transaction in which there are potential connections, equity, or conĹícts of interests between them or a third party and the $ompany or its subsidiaries. 14. 1ropose any issue which requires any resolution and or approval from the &xecutive $ommittee meeting, and submit it to other regulatory bodies, e.g. Securities and &xchange $ommission S&$ and the Stock &xchange of Thailand S&T and the Ministry of $ommerce. The &xecutive $ommittee shall be unable to approve items or people with vested interest or conĹícts of interest or any conĹíct types against Master "d or its subsidiaries. &YFDVUJWF $PNNJUUFF .FFUJOH The &xecutive $ommittee shall organize or call for meetings as deemed appropriate. In such committee meetings, there shall be at least three committee members in attendance to constitute a quorum. The &xecutive $ommitteeâ&#x20AC;&#x2122;s resolution shall be made by maKority vote. In this regard, directors who have conĹícts of interests are not allowed to participate in consideration on a certain agenda item or are ineligible to vote. In the year 2012 have 5 total meeting time. 5FSN PG 4FSWJDF The &xecutive $ommittee members shall be in ofĹłce for three years nonetheless, the terminated directors can be re elected.

154 3FNVOFSBUJPO PG UIF #PBSE PG %JSFDUPST The #oard Kointly considers remuneration of Directors and "uditors by comparing with companies in the S&T and competitive industries, before presenting it to the shareholders for approval in an "nnual (eneral Meeting. The remuneration is divided into two types meeting allowances, paid to all Directors attending the meeting and the annual remuneration paid only to Independent Directors. Master "d maintains a policy of disclosure of individual Directorâ&#x20AC;&#x2122;s remuneration for transparency. 3FNVOFSBUJPO UP %JSFDUPST JO UIF :FBS 2012 .POFUBSZ SFNVOFSBUJPO

6nit #aht

Executive Board Audit Meeting Comittee Committee Meeting Allowances Meeting Allowances Allowances

Name-Last Name

Bonus

Total

1. 1ol. Sub -t. ,riengsak -ohachala

80,000.00

500,000.00

600,000.00

2. Mr. 1arames

3achKaibun

60,000.00

420,000.00

480,000.00

3. Mr. /oppadon

Tansalarak

40,000.00

10,000.00

50,000.00

4. Mr. 1hichet

Maneerattanaporn

40,000.00

10,000.00

50,000.00

5. Mr. Tawat

Meeprasertskul

40,000.00

10,000.00

50,000.00

6. Mr. Vichit

Dilokvilas

30,000.00

10,000.00

50,000.00

7. Mr. 1rasert

Virasathienpornkul

40,000.00

60,000.00

270,000.00

360,000.00

8 Mr. 1ornsak

-imboonyaprasert

40,000.00

160,000.00

240,000.00

. Mrs. 6bonrat

#hokamonwong

40,000.00

160,000.00

240,000.00

10. Miss Tamonwan Total

/arintavanich

40,000.00 450,000.00

140,000.00

40,000.00 40,000.00 1,530,000.00 2,160,000.00

3FNVOFSBUJPO UP %JSFDUPST $PNQBSJTPO :FBS 2010 2012 .POFUBSZ SFNVOFSBUJPO

6nit #aht

Remuneration Persons

Meeting "llowances #onus 0ther Total

10 5

2012 Remuneration

630,000.00 1,530,000.00 /one 2,160,000.00

Persons

10 5

2011 Remuneration

760,000.00 1,450,000.00 /one 2,210,000.00

Persons

10 5

2010 Remuneration

5,000.00 1,325,000.00 /one 2,320,000.00

155 3. Risk Management Committee

The #oard appointed the corporate 3isk Management $ommittee consisting of at least Ĺłve members, of which at least one shall be the $ompanyâ&#x20AC;&#x2122;s director. "t December 31, 2012, the 3isk Management $ommittee comprises 10 persons as follows Name - Last name

1. Mr. /oppadon 2. Mr. "nant 3. Mr. "pisit 4. Mr. :anis 5. Mr. $huchai 6. Mr. +utha 7. Mrs. 3odKana 8. Miss Tamonwan . Mrs. 6raiwan 10. Mr. /arath

Tansalarak Siripasraporn $huenchompoo Tiparkorn Suwanpuchai +aruboon Trakulkoosri /arinthavanich #oonyarataphan 1ayakaniti

Position

$hairman Vice $hairman Member of $ommittee Member of $ommittee Member of $ommittee Member of $ommittee Member of $ommittee Member of $ommittee Member of $ommittee Member of $ommittee

4DPQF PG "VUIPSJUZ BOE 3FTQPOTJCJMJUZ #elow are the authorities and duties of the 3isk Management of Master "d 1ublic $ompany -imited. 1. $ompile the 3isk Management Handbook of Master "d 1ublic $ompany -imited 2. Devise a plan for risk prevention or reduction. 3. 1ropose the $ompanyâ&#x20AC;&#x2122;s risk management policies to the #oard for consideration before implementation. 4. Support the high ranking executivesâ&#x20AC;&#x2122; management by establishing a structure of risk management to comprehensively cover the overall organization, as well as adopting the risk management strategy into practice by issuing regulations and encouraging investment in an appropriate system. 5. &xamine, analyze, and assess existing or potential risks and trends which may affect the organization both internally and externally. 6. &valuate, prepare, and submit a report on adequacy of risk system and control to the &xecutive $ommittee and the #oard. 7. Function as the hub of managing signiĹłcant risks reported by risk management coordinators. 8. 3eview the report on risk management and enhance efĹłciency in management performance in order to deal with unacceptable risks. . Inaugurate an integrated risk management system and link it to the $ompanyâ&#x20AC;&#x2122;s information system. 10. $arry out any other task pertinent to the $ompanyâ&#x20AC;&#x2122;s risk management policies as assigned by The #oard. 5FSN PG 4FSWJDF The 3isk Management $ommittee members shall be in ofĹłce for three years nonetheless, the terminated directors can be re elected.

156 3JTL .BOBHFNFOU $PNNJUUFF .FFUJOH The 3isk Management $ommittee shall organize or call for meetings on a monthly basis or as seen appropriate. In such committee meetings, there shall be at least three committee members in attendance to form a quorum. The &xecutive $ommitteeâ&#x20AC;&#x2122;s discretion shall hold maKority vote as the meeting resolution. Corporate Secretary

In compliance with good government of registered companies on the responsibility of the #oard of Directors, and in accordance with the stipulation of the Securities and &xchange "ct /o. 4 #.&. 2551 2008 , Miss Thamonwan /arinthavanit, Director and "ccounting and Finance Director was appointed as $orporate Secretary. Her duties are shown in the prescriptions of the Securities and &xchange "ct /o. 4 #.&. 2551 2008 as follows $PSQPSBUF 4FDSFUBSZÄ´T EVUJFT BOE SFTQPOTJCJMJUJFT 1 1reparing and keeping the following documents a 3egister of Directors, b /otice letters and Minutes of the #oard of Directorsâ&#x20AC;&#x2122; Meetings, and the $ompanyâ&#x20AC;&#x2122;s "nnual 3eports, c /otice letters and Minutes of Shareholdersâ&#x20AC;&#x2122; Meetings 2 ,eeping reports on gain and loss as reported by the #oard of Directors and the Management, 3 Doing other things as prescribed by the Stock &xchange $ommittee, 4 Delivering copies of reports on gain and loss as reported by the #oard of Directors and the Management or other related persons, which is the gain and loss pertaining to the operation of the $ompanyâ&#x20AC;&#x2122;s business, or its subsidiaries, to the $hairman and the $hairman of the #oard of "uditors, within 7 days from the date which the $ompany receives the said reports, 5 1erforming the duty with due responsibility, care and honesty and also observe the -aws, obKectives and regulations of the $ompany, resolutions of the #oard of Directors, inclusive of the resolutions of the Shareholdersâ&#x20AC;&#x2122; Meetings, and to apply mutatis mutandis the Securities and the Stock &xchange "ct #.&. 2535 1 2 "rticle 8 8 2 3esponsibility and care , "rticle 8 10 Honesty , "rticle 8 11 2 and 3 "ctions in disagreement with the companyâ&#x20AC;&#x2122;s interest and "rticle 8 18 "ction or inaction causing others to gain unKust interest . 5IF $PNQBOZÄ´T 4FDSFUBSZÄ´T 2VBMJĹłDBUJPOT 1. Have comprehensive knowledge and understanding of the $ompanyâ&#x20AC;&#x2122;s business, including roles and duties related to the work of the $ompanyâ&#x20AC;&#x2122;s secretary, for instance, duties of the #oard and the $ompany, having sound knowledge of related laws and regulations, including the continuous pursuit of knowledge and follow up of data and information for the development of work implementation. 2. 1erform duties in accordance with laws, rules and the $ompanyâ&#x20AC;&#x2122;s regulations, with responsibility, caution, integrity and determination, including lending support for the $ompanyâ&#x20AC;&#x2122;s operation, based on the $ompanyâ&#x20AC;&#x2122;s principles of good corporate governance and code of ethics, so that the $ompany may fulĹłll its goal. 3. Strictly adhere to virtue and morality, as well as take into account all groups of stakeholders, while not acting in a way that will cause damage to the $ompanyâ&#x20AC;&#x2122;s reputation and good image. 4. /ot aim at self interest out of the $ompanyâ&#x20AC;&#x2122;s business opportunities, and well maintain the $ompanyâ&#x20AC;&#x2122;s secrecy. 5. Have good human relations and an ability to coordinate with other work units or agencies both inside and outside the $ompany.

157 Chief Executive OfďŹ cer

The $hief &xecutive 0fĹłcer is the highest position in the management, appointed by the #oard of Directors to manage the $ompany, according to the operation plan and budget approved by the #oard of directors, in strict, honest and careful observation of the obKectives and regulations of the #oard resolutions, withholding principally the $ompanyâ&#x20AC;&#x2122;s and the shareholdersâ&#x20AC;&#x2122; interest, within the authorities and duties of the $hief &xecutive 0fĹłcer as assigned by the #oard. Scope of CEOâ&#x20AC;&#x2122;s Authority and Responsibility

4DPQF PG "VUIPSJUZ BOE 3FTQPOTJCJMJUZ PG $IJFG PG &YFDVUJWF $PNNJUUFF / $&0 The $hief &xecutive 0fĹłcer $&0 has authority and duties in conducting the business of the company as assigned by the #oard of Directors for the best interest of the company. $&0, then, shall strictly perform such duties in accord with the plan or budget approved by the #oard with honesty, ethics, and due care. $&0 shall completely protect the beneĹłt of the $ompany and its shareholders. The authority and responsibilities of $&0 are as follows 1. Make the $ompanyâ&#x20AC;&#x2122;s critical Kudgements formulate mission, obKectives, guidelines, policies as well as supervise the overall operation, productivity, customer relations, and responsibility for the #oard of Directors. 2. Hire, appoint, and relocate personnel as deemed appropriate in terms of number and necessity to be executives or employees of all posts. The $&0 also plays a key role in identifying reasonable scopes of authorities and responsibilities, remuneration, as well as in discharging, dismissing, Ĺłring employees as deemed appropriate. 3. Stipulate trading terms and conditions, e.g. amount of credit, payment period, sales and purchase contract, amendment of trading terms and conditions, etc. 4. "pprove expenditures of a proKect approved by the #oard of Directors. &ach expenditure or payment shall not exceed ten million #aht. 5. 1eruse the investment in different proKects including asset sales and purchase. 6. Implement and represent on behalf of the $ompany when contacting outsiders in related business in the $ompanyâ&#x20AC;&#x2122;s interests. 7. "pprove the appointment of professional consultants critical to the $ompanyâ&#x20AC;&#x2122;s operation. 8. $arry out tasks related to overall administration of the $ompany. /ot with standing, exercising power or making decision of $hief of &xecutive $ommittee $&0 is not allowed, for his own interest, whether directly or indirectly, in such matter. Policies on CEOâ&#x20AC;&#x2122;s holding the director position in other companies:

1. #eing the Director of not more than 3 companies listed on the Stock &xchange of Thailand. 2. $hief &xecutive 0fĹłcer shall serve as a director or consider a qualiĹłed executive to be the director in the company that the $ompany has its shareholdings.

158 Management

/ame of &xecutive Management as of +anuary 1, 2013 No.

1. 2. 3. 5. 6. 7. 8.

Name - Last Name

Mr. /oppadon Mr. :anis Mr. "pisit Mr. +utha Miss. Tamonwan Mrs. 6raiwan Mr. /arath

Tansalarak Tiparkorn $huenchompoo +aruboon /arinthavanich #oonyarataphan 1ayakaniti

Position

$hief &xecutive 0fĹłcer $hief Innovation 0fĹłcer "sst. $hief &xecutive 0fĹłcer "sst. $hief &xecutive 0fĹłcer "sst. $hief &xecutive 0fĹłcer "sst. $hief &xecutive 0fĹłcer "sst. $hief &xecutive 0fĹłcer

Remuneration for the Management

$&0 in cooperation with the management has established the ,ey 1erformance Indicators ,1Is on an annual basis. The ,1Is will be guidelines for business conduct as well as the performance evaluation measures for $hief of &xecutive $ommittee $&0 and the management of all levels. "s at December 31, 2012, the remunerations of ten top management including $hief of &xecutive $ommittee $&0 of master "d 1$- and its subsidiaries were valued at 25,244,2 8.76 baht as detailed below. 6nit #aht

Remuneration No. of Executive

Salary and other $ontribution 1rovident Fund &+I1 5PUBM

7 7 4

2012 Amount

30,463,664.47 303,3 8.00 506,770.80 31,273,833.27

No. of Executive

8 8 5

2011 Amount

24,450,106.36 28 ,383.00 504,80 .40 25,244,298.76

No. of Executive

6 6 5

2010 Amount

14,137,13 .64 28 ,064.00 260,03 .20 14,686,242.84

/PUF : The #oard of Directors approved the &mplyee +oint Investment 1rogram on +uly 1, 2010.

159

Connected transactions The $ompany has signiĹłcant business transactions with its related parties related by way of common shareholders and or director and mutual management . Such signiĹłcant transactions, which have been reĹ´ected in the $ompanyâ&#x20AC;&#x2122;s Ĺłnancial statements on the terms and bases determined by the $ompany and those companies, which bases might be different from the bases used for transactions with unrelated companies, are summarised below 3elated companies 8e #ig $o., -td. D"I I$HI $orporation 1ublic $ompany -imited -andy Home Thailand $o., -td. Index $reative village 1ublic $ompany -imited

3elationship Shareholder of (reen "d $o., -td. $o director $o director Shareholder of Max $reative $o., -td. and partner of Index D103 M"$0 +oint Venture 1artner of Index D103 M"$0 +oint Venture 1artner of Index D103 M"$0 +oint Venture 1artner of Town #randing $o., -td. that subsidiaries of Max $reative $o., -td.

Design 103 International $o., -td. Design 103 $o., -td. 3 Hanuman $o., -td.

6nit Million #aht

Transactions with related companies

Pricing Policy

Consolidated f/s 2012 2011

Separate f/s 2012 2011

#illboard rental income Subsidiary company "ssociated company 3elated companies

1rice and term of payment approximate term granted to general customers

0.23

0.12 0.28

4.07 0.23

3.88 0.12 0.28

$ommission income Subsidiary company

5 of collection which approximates rate granted to general customers

8.78

8.36

104.00 1.40

0.30

0.05

0.3

0.70 0.05

0. 4 0.3

0.54

2.78 0.54

2.88 0.54

0.33

0.24

1.70 0.33

1.54 0.24

Dividend income Subsidiary company "ssociated company $onsulting and accounting service income Subsidiary company "ssociated companies 0fĹłce rental income Subsidiary company "ssociated companies 0ther income Subsidiary company "ssociated companies

Mutually agreed prices

Market price $ost

160 6nit Million #aht

Transactions with related companies

Consolidated f/s Pricing Policy

$osts of services $ost Subsidiary company "ssociated companies 3elated companies Selling expenses $ost Subsidiary company "dministrative expenses $ost Subsidiary company "ssociated companies ,ey management personnel Short term employee beneĹłts 1rovision for post employment beneĹłts 1rovision for other long term beneĹłts Financial cost ,ey management personnel

Separate f/s

2012

2011

2012

2011

15.15 0.46

10.50 0.76

1.22 14.62 0.46

4.0 10.05 0.76

0.0

12.72

12.60

0.10 12.71

0.02 12.60

38. 0

28.77

32.36

24.88

0.41

0.3

0.38

0.36

0.02

0.17

0.16

0.17

0.15

"s at 31 December 2012 and 2011, the outstanding balances of the above transactions are separately presented in the statement of Ĺłnancial position as follow 6nit #aht

Consolidated f/s 2012

2011

5SBEF BDDPVOUT SFDFJWBCMF SFMBUFE DPNQBOJFT 4VCTJEJBSZ DPNQBOZ Master More $o., -td.

"TTPDJBUFE DPNQBOZ Max $reative $o., -td

+PJOU 7FOUVSF I/D&9 D103 M"$0 +oint Venture 0VUTUBOEJOH CBMBODF BOE QPSUJPO PG PUIFS +PJOU 7FOUVSF QBSUOFS I/D&9 D103 M"$0 +oint Venture 5PUBM 0UIFS SFDFJWBCMFT Äą SFMBUFE DPNQBOJFT 4VCTJEJBSZ DPNQBOJFT Master More $o., -td. Maco 3ite Sign $o., -td. (reen "d $o., -td.

Separate f/s 2012

2011

3 4,287

36 ,1

364,335

121, 20

7,536 7,536

486,255

516,207

855,454

2,787,356 171,523 47,822 3,006,701

42,865 430,083 82,334 1,455,282

161 6nit #aht

Consolidated f/s 2012

"TTPDJBUFE DPNQBOJFT InkKet Images Thailand $o., -td. Take " -ook $o., -td.

1SFQBJE FYQFOTFT SFMBUFE DPNQBOZ 3FMBUFE DPNQBOZ Index $reative Village 1cl. -PBOT UP SFMBUFE DPNQBOZ "TTPDJBUFE DPNQBOZ Take " -ook $o., -td. 6OFBSOFE EJWJEFOE 4VCTJEJBSZ $PNQBOZ Master More $o., -td. 5SBEF BDDPVOUT QBZBCMF SFMBUFE DPNQBOJFT 4VCTJEJBSZ DPNQBOJFT Master More $o., -td. Maco 3iteSign $o., -td. "TTPDJBUFE DPNQBOZ InkKet Images Thailand $o., -td. 3FMBUFE DPNQBOZ V #ig $o., -td. -andy Home Thailand $o., -td. 5PUBM *ODPNF SFDFJWFE JO BEWBODF SFMBUFE DPNQBOZ 4VCTJEJBSZ DPNQBOZ Master More $o., -td. 0UIFS QBZBCMFT 3FMBUFE DPNQBOJFT 4VCTJEJBSZ DPNQBOZ Master More $o., -td. Maco 3ite Sign $o., -td. "TTPDJBUFE DPNQBOJFT InkKet Images Thailand $o., -td. -andy Development $o., -td.

2011

3,34 3,363 6,712 6,712

5PUBM

Separate f/s

0,274 3,46 3,743 3,743

2012

2011

3,34 3,363 6,712 3,103,413

0,274 3,46 3,743 1,54 ,025

846,552

4 5,000

53, , 46

2,170,448 2,656 2,173,104

1,082,55 0,736 1,173,2 5

7,508,1 4

5,050,052

7,415,541

26 ,81

27,135 530,526 313,753

2 3,423

530,526 150, 37

287, 33

575,867

4,406 2,111 6,517

15,408 8,1 6 23,604

154,4 0 6,000 250,4 0

5 ,85 20 , 60 26 ,81

130,840 6,000 226,840

5 ,85 20 , 60 26 ,81

5,27 ,678

162 6nit #aht

Consolidated f/s 2012

3FMBUFE DPNQBOJFT 8e #ig $o., -td. Index $reative Village 1$-. 5PUBM

15,365 17,548 32, 13 283,403

Separate f/s

2011

2012

2011

323,357

2 3,423

26 ,81

4IPSU UFSN MPBO GSPN SFMBUFE DPNQBOZ 3FMBUFE DPNQBOZ Index $reative Village 1$-.

2,000,000

3FTFSWF GPS FNQMPZFF CFOFĹłUT PCMJHBUJPO ,FZ NBOBHFNFOU QFSTPOOFM 1ost employee beneĹłts 0ther long term beneĹłts

5,071,771 148,135

4,4 1,2 8 117,567

4,8 2,815 103,558

4,346,132 81,834

-oans to Take a -ook $o., -td. and -andy Development $o., -td. were unsecured loans with an interest rate of p M-3 1 per year and a Ĺłxed rate by 2 per year respectively, and would be repayable on demand. $urrently, the loan to -andy Development $o., -td. has been paid in full already. Short term loan from related company has been obtained without collateral and with interest rate of 5.25 percent per annum and is repayable in the near future.

InkKet Images Thailand

$o., -td.

Person/juristic entity who may have conďŹ&#x201A;icts

Mr. 1hiched Maneerattanaporn and Miss. Tamonwan /arinthravanich who is the companyâ&#x20AC;&#x2122;s director, is its director

Relations

The company rent an ofĹłce on Vibhavadi 3angsit 3oad, with the space of 2,000 sq.m. in order to use it for advertising media and give 452.05 sq.m. to the Koint venture company to rent for 3 years which will be ended on 31st +uly 2013 The company hires the Koint venture company to produce some images to use on the companyâ&#x20AC;&#x2122;s media

Type of items

The price is no different from other production house.

100 baht sq.m. month which is a higher price than what the company rent from the building owner which is at 47.50 baht sq.m. month because the company has renovated the rented space to be able to utilize with other facilities.

Details and Policy In ďŹ xing price

15.15

0.54

Year 2012

10.50

0.54

Year 2011

Item value (million baht)

it is a normal business procedure. To let the Koint venture produce, allows the company to control the work quality as well the time.

To divide the renting space to the Koint venture company. #ecause there is some space left and able to split some space to rent to the Koint venture which helps to reduce the companyâ&#x20AC;&#x2122;s cost.

Needs and reasons

For the past year, the company and its subsidiaries have some important business with the parties which may have conĹ´ict interest and have necessity and reason to do the items as follows

1PMJDZ PG $POOFDUFE 5SBOTBDUJPO

Connected Transaction (Additional)

163

-andy Development $o., -td.

Person/juristic entity who may have conďŹ&#x201A;icts

Shareholding by Master "d 1ublic $ompany -imited holds 48.87 , -andy Home Thailand $o., -td. Holds 37. 8 , Dai ichi $orporationholds 13.15 Mr. Vichit Dilokvilas who is the companyâ&#x20AC;&#x2122;s director, is its director

Relations

#uilding 2 rent is 3 0 baht sq.m. month and electricity bill is around 100,000 baht month 3emarks 3ent means the rent and central expense. #uilding 2 rent ended 1 March, 2015

-oan guarantor according to the bank conditions in order to use the money to build a new ofĹłce building, with the shareholding amount of 48.87

The company rent building space of -andy Masterm building 2 with total space of 2,550.24 sq.m.

The company is the guarantor for the loan according to the shareholding

Type of items

Details and Policy In ďŹ xing price

11.3

Year 2012

11.3

Year 2011

Item value (million baht)

"ccording to the bank conditions as general business in order to create trust for the Koint venture company when borrowing money from the bank to build a new ofĹłce building.

3ent the space to do business. The rent is not different from other people.

Needs and reasons reasons

164

165 Measure or Process of Approval for Connected Transaction

The $ompany has speciĹłed its policy and process of approval and implementation of connected transaction and any conĹ´ict of interests as follows 1. In the event that the $ompany enters into any contract engagement or any connected transaction with a company, its subsidiaries, Koint ventures, and or outsiders, the $ompany shall strictly peruse the necessity and appropriateness by solely adhering to the best interests of the $ompany and charging in accord with terms and conditions generally made with armâ&#x20AC;&#x2122;s length customer at a reasonable market price. 2. The transaction, which is deemed connected as stipulated by the S&$ criteria, shall righteously and completely follow S&T and S&$ stipulations as well as passed the veriĹłcation process of the "udit $ommittee in the event that such connected transaction requires the #oardâ&#x20AC;&#x2122;s consideration. 3. " director with conĹ´ict of interests in any issue shall refrain from voting on or attending the meeting on that agenda item. 4. In the transaction connected to normal business transaction or common business support transaction, within the managementâ&#x20AC;&#x2122;s authority, the $ompany shall calculate the price as well as terms and conditions on the armâ&#x20AC;&#x2122;s length basis. If there is no such benchmark, the $ompany shall compare the price of its products and services to outsidersâ&#x20AC;&#x2122; under the same or similar terms and conditions. To assure that such price is reasonable for the best interests of the $ompany, the report prepared by an independent evaluator hired by the $ompany can be deployed to compare the price for critical connected transaction report. The authorized signatories shall not be the person who is authorized to approve a budget amount and the management who has self interests in such a transaction. 5. 1rovision of Ĺłnancial support or guarantee of subsidiaries or connected people shall be cautiously performed for the best interest of the (roup. The charges, e.g. interest, guarantee fees, etc., shall be calculated with the market price on the date when the transaction takes place. 6. In the event that the connected transaction has the value which requires the shareholdersâ&#x20AC;&#x2122; ratiĹłcation by three fourths maKority vote, the maKor shareholders who are stakeholders are allowed to attend the meeting in order to complete the quorum, but do not have voting rights. The criterion on base of the vote calculation to approve the connected transaction, excluding stakeholdersâ&#x20AC;&#x2122; part, then, is irrelevant to the quorum and number of votes. Policy on Connected Transaction Between the Company & Its Subsidiaries and Directors or Their Connections

The connected transaction between the $ompany together with its subsidiaries on one hand and the directors, the management or their connected person on the other shall always require the #oard of Directorsâ&#x20AC;&#x2122; resolution, except for a transaction worth less than one million #aht. Instead, the $hief &xecutive 0fĹłcer $&0 is authorized to approve of such transaction and is required to report to the #oard of Directors within 14 days after such resolution. The transaction shall conform to the terms and conditions of a standard price, or there is a public announcement on sale promotion price which is equitably available to other customers or can be compared to general market price. . To count the aforementioned value, the multiple connected transaction of the same type, feature, or condition, originated in six consecutive months by an individual or related people, or close relatives shall be treated as a single entity. In this regard, the $ompany shall abide by the laws, bylaws, announcements, orders, or stipulations on stock and securities, including the best practice on information disclosure of connected transaction as well as the receipt and purchase of the $ompanyâ&#x20AC;&#x2122;s assets or its subsidiaries, as stipulated by the Stock &xchange of Thailand S&T . This policy becomes effective from September 1, 2008 onwards.

166 Policy on Connected Transaction of Futurity

The connected transaction among the $ompany together with its subsidiaries on one hand and the directors, the management or a connected person on the other shall always require the #oard of Directorsâ&#x20AC;&#x2122; approval, except for the transaction worth less than one million #aht. Instead, the $hief &xecutive 0fĹłcer is authorized to approve of such transaction and is required to report to the #oard of Directors within 14 days after such approval. The transaction shall conform to the terms and conditions of a standard price, or there is a public announcement on sale promotion price which is equitably available to other customers or can be compared to general market price. . To count the aforementioned value, the multiple connected transaction of the same type, feature, or condition, originated in six consecutive months by an individual or related people, or close relatives shall be treated as a single entity. In this regard, the $ompany shall abides by the laws, bylaws, announcements, orders, or stipulations on stock and securities, including the best practice on information disclosure of connected transaction as well as the receipt and purchase of the $ompanyâ&#x20AC;&#x2122;s assets or its subsidiaries, as stipulated by the Stock &xchange of Thailand S&T . policies.

"s for the connected transaction taking place at the present time, the $ompany has laid the following operational ofĹłce rent for subsidiary and Koint venture

graphic production

The $ompany expects to allow its subsidiaries and its Koint ventures to continually share the area rent at its ofĹłce on Vipavadee 3angsit 3oad. In the event of the graphic Kointly produced by the $ompany, the $ompany delivers such work for Ĺ´exibility of controlling performance and time in production.

167

Corporate Governance Master "d $ompany 1ublic $o., -td. is committed to operating under the principles of good corporate governance of the Stock &xchange of Thailand S&T and the regulations of the Securities and &xchange $ommission S&$ to ensure effective management leading to sustainable growth and add value for shareholders over the long term. The $ompany has viewed that corporate governance policy and business ethics is part of the business policy of the $ompany. The policy of corporate governance and business ethics has been made in writing. The #oard is responsible for policy and practice in such matters. The #oard also makes sure that the directors, the management and employees are to comply with strictly. The $ompany has reviewed its corporate governance policy and business ethics regularly. The full version of business policy, corporate governance and ethical business conduct has been published via the $ompanyâ&#x20AC;&#x2122;s website www.masterad.com. In 2012, the $ompany received the scores on $orporate (overnance as Äśvery goodÄˇ Very (ood $( Scoring from the $orporate (overnance 3eport of the -isted $ompany for the year 2012, for the sixth consequtive year. 1. Rights of the shareholders

The $ompany operates with transparency with respect to the rights of the shareholders equally. It has establish corporate governance policy with respect the rights of all shareholders equally, not taking any action to limit the opportunities of the shareholders. In 2012, the $ompany performed the following .FFUJOH PG UIF TIBSFIPMEFST In 2012, the $ompany held the "nnual (eneral Meeting of the Shareholders as follows Äť

(eneral Meeting of the Shareholders for the year 2012 was held on Friday "pril 27, 2012 at 2.00 pm. at $hao 1hraya #allroom, 2nd Floor, $hao 1hraya 1ark Hotel, 247 3atchadaphisek 3oad, Din Daeng, #angkok 10400. with a total of 3 participants. The total number of shares 84,47 ,560 shares, representing 67.58 percent of the shares sold by the $ompany. The #oard of Directors was in presence which included the $hairman of the #oard, the #oard of Directors and "udit $ommittee, totaled 10 persons with the executives and the companyâ&#x20AC;&#x2122;s auditors attending simultaneously. The $hairman of the #oard served as $hairman of the meeting and conducted in full accordance with the law. The meeting was held with the following sequences

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#efore the meeting. 1. The company released a letter to the shareholders through S&T system to inform the minority shareholders of the right to submit the issue to be placed on the agenda and to nominate the persons to be considered to be a Director of the $ompany according to the selecting process prior to the "nnual (eneral Meeting of the shareholders, 3 months in advance before the end of the Ĺłscal year in line with the conditions published on the $ompanyâ&#x20AC;&#x2122;s website at http www.masterad.com investor relation. In 2012â&#x20AC;&#x2122;s "nnual (eneral Meeting of the Shareholders, no one proposed any agenda or nominated a person to be an independent director of the the company. 2. "ll the shareholders shall be informed the "(M date, time and agendas via S&$ information system and the $ompanyâ&#x20AC;&#x2122;s web site 30 days prior to the meeting date. 3. Sending invitation letters to the Meeting, stating place, date, time, agenda of the Meeting, with details to be presented to the Meeting, and the reason and opinion of the #oard of Directors in each agenda, with proxy letter, annual report and additional detail attached to the report. The said documents were sent to all shareholders whose names appeared on the shareholders registrar as of the closing date, 14 days prior to the meeting date, and advertised in newspapers for three consecutive days,

168 4. Shareholders who cannot attend the "(M themselves are allowed to appoint proxies, or delegate independent directors as their proxies to vote on their behalf.

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0O UIF "(. %BUF

1. The $ompany endeavors to accommodate all shareholders in an equitable manner. 3eceptionists are adequately provided for all shareholdersâ&#x20AC;&#x2122; disposal. The shareholders are allowed to register since 8.00 am, or 2.00 hours before the "(M. "ll board members, executives, and the external auditors attend the meeting preside over 2. 3egistration and voting via barcode system have been introduced to the meeting for the second year for the shareholdersâ&#x20AC;&#x2122; convenience. 3. The voting papers are provided in each agenda item for transparency and monitor. 4. #efore commencing the meeting, the chairperson shall announce the number of shareholders and proxies for the meetingâ&#x20AC;&#x2122;s acknowledgement. The $hairperson, then, clariĹłes the procedures of voting by ballot paper. The resolution depends on the maKority vote. 5. The $hairman of the Meeting conducted the Meeting according to the agenda in the invitation letter, without any change in the order of the agenda, and without requesting the Meeting to consider any matters not speciĹłed in the Meeting 6. The $hairman allowed explanation and discussion in each agenda, providing equal right to all shareholders in the examination of the companyâ&#x20AC;&#x2122;s operation, asking questions and expressing their opinion and the $ompany recorded important matters in the Meeting Minutes for further examination 7. The exercise of voting right for approval in each agenda was on the maKority votes, in the format of 1 Share 1 Vote, except in agenda on approval of Directorsâ&#x20AC;&#x2122; remuneration for the year 2011, which was the resolution of the shareholders at two third of all the votes attending the Meeting and with voting right 8. #efore any voting in each agenda, the $hairman allowed shareholders to inquire for details and clariĹłcation, . The $hairman notiĹłed the Meeting to vote openly in each agenda 10. Shareholders were allowed to vote in the election of directors individually 11. During the Meeting if there were additional shareholders Koining the Meeting, the $ompany counted the number of shares and the new shares each time, and the newly arrived shareholders were given the rights to vote on agenda not yet voted. The $hairman summarized the voting result in each agenda for the Meeting to acknowledge 12. The $hairman announced the voting results in numbers of :es, /o and "bstain.

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"GUFS UIF "(. %BUF

1. "fter the meeting, the $ompany shall inform the details on resolutions and voting results of each agenda item to all its shareholders via its securities registrar, Thailand Securities Depository $o., -td. TSD for acknowledgement of all interested parties. 2. The minutes of meeting properly shall be recorded in written form, retained and disseminated within 14 days on the $ompanyâ&#x20AC;&#x2122;s website http www.masterad.com investor relation. #ased on the high percentage of attendants at the "(M, Master "d 1$- was evaluated as ÄśVery (ood,Äˇ in the category of "(M organizing.

169 2. Equal treatment to all shareholders

Master "d treated all shareholders fairly and equally, whether they are in the management or not, including foreign shareholders, by observing the following 4IBSFIPMEFSTÄ´ .FFUJOH In 2012, Master "d held the 2012 "nnual (eneral Meeting of shareholders, and treated all shareholders equally as follows

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1SFTFOUBUJPO PG BEEJUJPOBM BHFOEBT BOE OPNJOBUJPO PG QFSTPOT GPS #PBSE FMFDUJPO JO UIF 2012 "OOVBM (FOFSBM .FFUJOH : In 2012, Master "d sent out notiĹłcations to shareholders through the Stock &xchange system for minor shareholders to proposes issues for the Meeting and nominate candidates for Directorship under the selection procedures, prior to the "nnual (eneral Meeting according to the rule of the $ompany and publicized in the $ompanyâ&#x20AC;&#x2122;s 8ebsite at www.masterad.com investor relation "EEJUJPOBM BHFOEBT XJUIPVU QSJPS OPUJDF : In the 2012 "nnual (eneral Meeting of shareholders, the $ompany did not have any additional agendas without prior notice 1SPYZ GPS UIF .FFUJOHT : For shareholders who could not attend the meetings, proxy was allowed by Ĺłling a form in the proxy document Form # attached with the Meeting notice letters, on which shareholders could exercise their voting right. Further the $ompany offered an alternative by announcing the names of two Independent Directors for those shareholders who could not attend the Meetings to authorize them to vote for them. However in the 2012 "nnual (eneral Meeting, " shareholder authorized Mr.1rasert Virasathienpornkul, $hairman of the "udit $ommittee and independent Director /one who attend and vote 7PUJOH CBMMPUT : Voting was done in the format of 1 Share 1 Vote, using voting ballots for transparency and examination "MMPXBODF PG TIBSFIPMEFST UP VTF UIFJS SJHIU UP FMFDU %JSFDUPST POF CZ POF : In the 2012 "nnual (eneral Meeting, agenda 5, election of new Directors to replace those whose term ends, the $ompany allowed shareholders to use their right to elect Directors one by one, by collecting ballots from all shareholders who attended the Meeting, both for :es and /o ballots as well as abstain.

.FBTVSFT UP QSFWFOU UIF %JSFDUPST BOE UIF .BOBHFNFOU GSPN VTJOH UIF JOTJEF JOGPSNBUJPO GPS QFSTPOBM CFOFĹłU PS PUIFST JO BOZ VOMBXGVM XBZ "DDFTTJCJMJUZ UP UIF $PNQBOZÄ´T EBUB : Master "d 1ublic $o., -td. provides no privileges to any particular groups of shareholders. &very shareholder has equal rights to the $ompanyâ&#x20AC;&#x2122;s open data through various communication channels, and shall receive sufĹłcient information as can be disclosed through the following channels

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Telephone 0 2 38 3388 $onnection 487 8ebsite http www.masterad.com Investor 3elations Division ir!masterad.com

The $ompany shall not disclose signiĹłcant information that is not publicly available to unauthorized employees or any other person or group of persons including press and analysts until the information is disclosed to the public. If it is necessary to disclose information to business stakeholders such as auditor, #ank, the Ĺłnancial advisor, legal advisor, or other advisors, the $ompany will take steps to ensure that such persons will maintain conĹłdentiality. If there is information leak that should not be disclosed to the public, the $ompany will disclose such information to the public immediately. The $ompany will comply with the rules of the Stock &xchange on the news and other requirements, or if necessary,

170 the $ompany will inform the Stock &xchange to temporarily suspend trading in some situations. The information may sometime be put on hold to the public due to business reasons until it is the right time to disclose. If the members of the #oard of Directors of the $ompany have done any trading, the report must be made to the #oard of Directors for acknowledgement in the next meeting. 1FSJPE CFGPSF EFMJWFSZ PG ĹłOBODJBM TUBUFNFOUT Master "d avoids releasing information on operation results which affect its share price or which may be beneĹłcial to any special group during the period before the delivery of its Ĺłnancial statement to the Stock &xchange of Thailand, beginning from the end of each quarter until the $ompany releases its results ofĹłcially through the information system of the Stock &xchange. 3FMFBTF PG JOGPSNBUJPO PO HBJO BOE MPTT The #oard of Directors deems it appropriate to issue guidelines on gain and loss data of its Directors and the Management for transparency and prevention of conĹícting interest thus 1. Directors are to inform the $ompany without delay when they or persons in their families Koin or hold shares in any business which may have conĹícting interest, gain or loss, directly or indirectly in any agreements which the $ompany enters, or hold any securities in the $ompany or its subsidiaries 2. In the event an employee and persons in his family Koin or hold shares in any business which may have conĹícting interest with the $ompany, he shall inform the $hief &xecutive 0fĹłcer in writing, and the Directors and the Management shall report the data to the $orporate Secretary and the #oard of Directors. #esides, the Directors and the Management who have the interest shall refrain from any discussions, giving opinions or voting on the said agenda. 3. Role of Stakeholders

The $ompany shall conduct its business by retaining the $ompanyâ&#x20AC;&#x2122;s interest in conKunction with the interest, rights, and equitability of its shareholders and stakeholders, including shareholders, employees, customers, creditors, rivals, as well as responsibilities for the society and the general public. The $ompany adheres to the following stakeholder treatment principles.

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4IBSFIPMEFST In its business conduct, the $ompany keeps in mind the best interests of all shareholders and stakeholders in an equitable fashion. In particular, the $ompany put a strong emphasis on its sustainability and growth in order to promote the long run competitiveness and satisfactory returns. Further, the shareholders have rights to actively take part in acknowledging and making decision on vital issues concerning any change of fundamental business conduct.

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&NQMPZFFT &very single employee is a component vital to the $ompanyâ&#x20AC;&#x2122;s business conduct. The $ompany, therefore, stresses the importance of each employee in all work units without any discrimination. The $ompany always encourages its staff members to unify, trust, and treat each other in a courteous manner, without preKudice, and with respect for human dignity. In this regard, friendly work environment is created along with the provisions of safety, remunerations commensurate with work performance, good welfare, innovative for Kob burden alleviation, among many others. Most importantly, the employees have to be consistently trained for the betterment of their professionalism, thereby exuding conĹłdence in their own well being and work standard up to par with employees of other leading companies in the same Ĺłeld.

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4VQQMJFST 1laying an important role in purchasing process which is a signiĹłcant process to determine the cost, quality of goods and services to be used in operations. The $ompany has established the Supplier $ommittee to select the supplier fairly with the clear criteria for selection, giving the importance to the suppliers who would help in business operations and support one another, including respect the supplier as an equal partner on the basis of fair competition.

171

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$SFEJUPST The company has practiced itself as a good debtor by taking into account the best interests of both parties, i.e., avoiding the situation that causes a conĹ´ict of interest, having payment policy to meet deadlines, and strictly abiding to the creditors including releasing a guarantee of repayment upon the creditorâ&#x20AC;&#x2122;s request and treating the creditors as the partnership.

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$VTUPNFST The $ompany is committed to everlasting capture the largest of mind with cutting edge technology and innovation applications. The $ompany will emphasize the consistent quality service for customer satisfaction in order to maintain its existing customers as well as attract prospective customers. To accomplish this, the $ompany shall consistently maintain its quality service along with fulĹłlling its customer requirements with effectiveness and efĹłciency, under the slogan Äś$reate Media with 2uality.Äˇ To strengthen close relationship with its customers, the $ompany provides interesting activities with an emphasis on warmth, thereby inculcating both employees and customers with a sense of familial unity.

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3JWBMT The $ompany abides by the standard business competition with equitability and ethics, as well as follows the trading competition laws. The $ompany shall avert fraudulent means to discredit its competitors. The $ompany shall not defame competitors by a malign force, nor violates its competitorsâ&#x20AC;&#x2122; rights.

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4PDJBM BOE &OWJSPONFOU Master "d 1lc $o., -td. has put a lot of focus on the creativity and marketing communication activities. The main obKective is to establish communication between the organization, customers, suppliers, shareholders and the general public. So they all will have an understanding of the business operations of the organization. It also led to the development of the industry of 0HM to go forward unceasingly. In addition to our commitment to the principles of $orporate (overnance with transparency and fairness for the maximum customer satisfaction, Master "d 1lc $o., -td. have committed to social responsibility and the environment by supporting the activities and initiating various community and social proKects without gain as one of the real organizations with responsibility to society. 4. Information disclosure and transparency

Master "d maintains its policy of information disclosure and transparency in the monitor and control of the $ompany. In 2012, the $ompany disclosed information pertaining to the $ompany, Ĺłnancial and otherwise completely, clearly and within due time, according to the prescription of the S&$ and S&T as follows

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1rovision of 3eports to S&$ and S&T within speciĹłed time on Ĺłnancial and other matters, such as changes of Directors and Directorsâ&#x20AC;&#x2122; securities holdings. Disclosure of Ĺłnancial status and others, such as types of business operation, competitive situation, business risk, securities holding of Directors and the Management, related matters, and operation according to the policy of business control, in the annual reports and in Form 56 1 Disclosure of Ĺłnancial status and others correctly and completely in the $ompanyâ&#x20AC;&#x2122;s website IUUQ://XXX.NBTUFSBE.DPN/JOWFTUPS.IUNM Meeting with investors, securities analysts and reporters on the registration date, organized by S&T once and organized $ompany visit once to explain the $ompanyâ&#x20AC;&#x2122;s operating results as well as answering questions of investors

172

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The $ompany maintained an Investor 3elations Division for shareholders and any persons to contact at *OWFTUPS 3FMBUJPOT %JWJTJPO Ms. Tamonwan /arinthavanich $orporate Secretary Ms. SukKai Virunmas I3 $oordinator Tel. 02 383388 ext 487 Fax. 02 38348 I3!masterad.com & NBJM 8FCTJUF http www.masterad.com investor.html -FUUFS $orporate Secretary Master "d 1ublic $o., -td. /o 1, 4th 6th Floor, Soi -at 1hrao 1 , -at 1hrao 3oad, $hom 1hon Subdistrict, $hatuchak District, #angkok 10 00

$POUSPM PG UIF VTF PG JOTJEF JOGPSNBUJPO The company has set up a system to prevent and detect the use of inside information for personal gain in any unlawful way. The #oard of Directors has passed a resolution that the directors of the company must report any change in shareholding of the $ompany to the Securities and &xchange $ommission S&$ . The directors, executives and employees of companies must not get involved in the disclosure of such information to any third party or person who is not related, including prohibiting directors and employees of the companies to be involved in the preparation of Ĺłnancial statements or other information related to purchase or sell of securities of the $ompany before the Ĺłnancial statements. The $ompany will use the maximum penalties if the executives have been found using the inside information, or conduct themselves in a way that may cause damage to the $ompany or the shareholders. %JTDMPTVSF PG SFNVOFSBUJPO PG UIF EJSFDUPST BOE FYFDVUJWFT The remuneration for the Directors of the $ompany is in accordance with the resolution approved by the shareholdersâ&#x20AC;&#x2122; meeting. The #oard of Directors is authorized to determine the remuneration since the 3emuneration $ommittee has not been set up yet. The #oard of Directors will consider the remuneration of the Directors by comparing with other companies in the same industry, and present to the shareholders for approval. The Directors, the "udit $ommittee and the &xecutive Director will receive the remuneration only when attending the meeting with the amount for each position as follows. 1. $hairman of the #oard and $hairman of the "udit $ommittee will receive 20,000 #aht time each 2. Vice $hairman 15,000 #aht time 3. Directors of the $ompany and the "udit $ommittee 10,000 #aht time 4. &xecutive Directors 5,000 #aht time 5. 0nly Directors and "udit $ommittee who are independent Directors will receive an annual pension. The $ompany have disclosed details of remuneration for each individual page 154 director and the management page 158

1SFQBSBUJPO PG ĹłOBODJBM TUBUFNFOUT The #oard of Directors has appointed "udit Directors to audit the $ompanyâ&#x20AC;&#x2122;s Ĺłnancial statements, correctly and sufĹłciently disclosed. Directors also prepare reports on responsibility of Directors on the Ĺłnancial reports, covering important matters as recommended by S&T for Directors of a registered company to observe. The #oard of "uditors has selected auditors who are independent and have no personal interest with the $ompany. The said "uditors are accredited by the S&$. The $ompany appointed auditors from (rant Thornton $o., -td as the "uditors for the year 2012 the current "uditors of the $ompany according to the recommendation of the #oard of "uditors as follows

173 1 Mr. Somkit Tiatrakul, $ertiĹłed 1ublic "ccountant /o. 2785 2 Mrs. Sumali $hokedianand, $ertiĹłed 1ublic "ccountant /o. 3322 The audit fee for the year 2012 should not exceed 850,000 #aht, which was similar to those companies of the same size and type of business. The $ompanyâ&#x20AC;&#x2122;s Ĺłnancial statements were certiĹłed by the auditors and the auditors gave no conditional comments on the statements. 5. Responsibilities of Directors

0SHBOJ[BUJPO BOE DPNQPTJUJPO PG UIF #PBSE PG EJSFDUPST Their number shall not be less than 5 and not more than 12 Independent Directors shall not be less than one half of the total number of Directors They should be qualiĹłed on business and accounting and Ĺłnance.

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5IF #PBSE PG .BTUFS "E 1VCMJD $P., -UE. GFBUVSFT 10 %JSFDUPST : 8 /on executive Directors 5 Independent Directors or half of the total #oard

2 &xecutive Directors $hief &xecutive 0fĹłcer and "ssistant $hief &xecutive Director .

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1ol. Sub. -t. ,riangsak -ohachala, an Independent Director is the $hairman of the #oard and Mr. 1rasert Virasatienphonkul, Independent Director is the $hairman of the #oard of "uditors, Mr. 1honsak -imboonyaprasert and Mrs. 6bonrat 1hokamolwong, Directors are Financial &xperts. 2VBMJĹłDBUJPOT PG UIF %JSFDUPST 2ualiĹłed and not prohibited by 1ublic $ompany "ct. #eing the director in not more than 5 other listed companies. Independent Director must qualify as independent according to the Stock &xchange of Thailand on 2ualiĹłcations and Scope of 8ork of the "udit $ommittee. /ot been sentenced by Ĺłnal Kudgment to imprisonment, except as a punishment for an offense committed through negligence or a petty offense. /ever been Ĺłred or laid off from work because of malpractice.

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5FOVSF BOE UFSN PG PGĹłDF PG %JSFDUPST Master "d observes the 1ublic $ompany "ct by retiring one third of the Directors in the "nnual (eneral Meeting of shareholders, which is done every year. If the number of directors cannot be divided in whole by 3, it shall be closest to one third. 0utgoing Directors can be re elected. 0ther than retirement at the end of ofĹłce term, a Directorship may be terminated by 1. Death, 2. 3esignation, 3. -ack of qualiĹłcations or having forbidden characteristics per "rticle 68 of the 1ublic $ompany "ct #.&. 2535 1 2 , 4. Shareholders vote for termination in a shareholdersâ&#x20AC;&#x2122; meeting per "rticle 76 of the 1ublic $ompany "ct #.&. 2535 1 2 , 5. Termination by a court order, 6. 0ther than termination by the speciĹłcations of the 1ublic $ompany "ct, a Director shall be terminated when he she demonstrates inappropriateness to receive conĹłdence in the management with the public as shareholders per "rticle 8 3 and shall not hold the Directorship any longer "rticle 8 4 of the Securities "ct #.&. 2551 2008 . %FĹłOJUJPO PG *OEFQFOEFOU %JSFDUPS BT QFS BT QBHF 149

174 4FQBSBUJPO PG UIF QPTJUJPO PG $IBJSNBO PG UIF #PBSE GSPN $IJFG &YFDVUJWF 0GĹłDFS To separate between the duties of policy formulation and routine management, and to enable Directors to monitor, control and measure operation results effectively, Master "d 1ublic $o., -td. has decided that the $hairman and $hief &xecutive 0fĹłcer shall be different persons. The $hairman of the #oard shall supervise the management of the executives, providing advice, assistance, but without intervening in the everyday management, but let the $hief &xecutive 0fĹłcer do that function under the extent of authority given by the #oard. #esides, the $hairman of the #oard shall possess leadership, making sure that Directors are not under the managementâ&#x20AC;&#x2122;s inĹúence, chairing #oard and shareholdersâ&#x20AC;&#x2122; meetings in a fair and efĹłcient manner, supporting and encouraging participants to exercise their rights, and observing to the principle of maintaining good governance. 4VDDFTTJPO QMBOT GPS TFOJPS NBOBHFNFOU If the $hairmanâ&#x20AC;&#x2122;s position is vacant, the #oard of Directors shall select a board member or a senior management of the $ompany to hold the ofĹłce. If no suitable candidates, the #oard may select a person of the third party. For the position of the $hief &xecutive 0fĹłcer, there have been the members of the senior management being appointed to prepare for to be the $hief &xecutive 0fĹłcer in succession as Deputy $&0, a total of 5 persons. In addition, for the position of senior management from the level of the directors onwards, the 1ersonnel Management Department has conducted the Successor 1roKect to prepare the mid level managers for the career advancement as well. "QQPJOUNFOU PG $PSQPSBUF 4FDSFUBSZ The #oard of Directors is responsible for appointment and recruitment of a $orporate Secretary and shall submit his her name to S&$ within 40 days of Ĺłnding the responsible person. The Securities and Stock &xchange "ct 1 2, "rticle 8 15 1 says that the #oard shall assign a corporate secretary to be responsible in the name of the company or the #oard, with care and honesty, inclusive of operating according to law, obKectives and regulation of the $ompany and resolutions of the #oard and the shareholdersâ&#x20AC;&#x2122; meetings, and to apply the Securities and Stock &xchange "ct #.&. 2535 1 2 "rticle 8 8 2 3esponsibility and care , "rticle 8 10 Honesty , "rticle 8 11 2 and 3 "ctions in conĹíct with the companyâ&#x20AC;&#x2122;s interest and "rticle 8 18 "ction or inaction causing others to gain unKust interest mutatis mutandis. 4VC $PNNJUUFF The #oard appointed the following Three sub committees "udit $ommittees, and &xecutive $ommittees. 1. "VEJU $PNNJUUFF The $ompanyâ&#x20AC;&#x2122;s "udit $ommittee comprises at least three independent directors. The brief duties and responsibilities of the "udit $ommittee are to review the $ompanyâ&#x20AC;&#x2122;s Ĺłnancial statement, verify the $ompanyâ&#x20AC;&#x2122;s internal control, appoint an external auditor, and review the $ompanyâ&#x20AC;&#x2122;s disclosure of connected transaction or a certain transaction which may create conĹícts of interest in compliance with S&T notiĹłcations in order to ensure appropriateness of the transaction and for the best interest of the $ompany. 2. &YFDVUJWF $PNNJUUFF The &xecutive $ommittee is composed of four directors. This $ommittee has roles in and responsibilities for controlling and approving the $ompanyâ&#x20AC;&#x2122;s management as authorized by the #oard as well as perusing and screening any matters to be submitted to the #oard for consideration. $urrently, Mr. /oppadon Tansalarak, Director and $&0, is functioning as the $hief of &xecutive $ommittee. He performs this Kob with high efĹłciency and always listens to all directors. 3. 3JTL .BOBHFNFOU $PNNJUUFF The #oard is responsible for appointing top management to be on the corporate 3isk Management $ommittee, of which at least one shall be the $ompanyâ&#x20AC;&#x2122;s director. Its maKor duties are to devise the overall corporate risk management policies, evaluate potential risks, and formulate the corporate risk structure for risk management.

175 #PBSE PG %JSFDUPSTÄ´ SPMF, EVUJFT BOE SFTQPOTJCJMJUJFT The #oard of Directorsâ&#x20AC;&#x2122; duties include considering and approving signiĹłcant matters pertaining to the $ompanyâ&#x20AC;&#x2122;s operation as follows 1. To listen to and provide recommendation on the annual business plan, in which the #oard had supervised and monitored the management to follow the set policy and plan effectively. 2.

To provide effective internal control both in Ĺłnancial statements and operation according to rules, regulations and policies, by having an Internal "uditor 0fĹłce from IV- "udits 0fĹłce to perform internal audit and control of the $ompany and to report the result to the #oard of "uditors directly for independent performance of duty.

3. To set up a risk management committee and set forth policies on risk management covering the total organization, so as to reduce business risk and support efĹłcient operation of the business. 4. To provide good governance policy, business ethics, in writing, for Directors, executives and employees to observe and also publicize in the $ompanyâ&#x20AC;&#x2122;s website at www.masterad.com investorrelation 5. To consider conĹ´ict of interest by setting clear guidelines beneĹłcial to the company and shareholders principally, setting prescriptions on information disclosure on items which may have conĹ´ict of interest as follows

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1SFQBSBUJPO PG SFQPSUT PO KPJOU JOUFSFTU PG %JSFDUPST, FYFDVUJWFT BOE SFMBUFE QFSTPOT, In 2012, Master "d prescribed that a report form be made to report on Koint interest of Directors, executives and related persons, as basic information in the monitor and control of the said Koint interest. The reports were kept by $orporate Secretary to be used in the audit and control of conĹ´ict of interest if there was any change in the interest, the executives were required to report the changes to the $orporate Secretary for acknowledgement 3FQPSUJOH DIBOHFT PG UIF TFDVSJUJFT IPMEJOH To regulate the use of inside information, the $ompany has determined that the #oard of Directors and management, including the spouse and children who are minors, when there are changes in securities holding of Master "d 1ublic $o., -td., they must notify the $ompany and report to the Securities &xchange $ommission under Section 5 of the Securities and &xchange "ct of #.&. 2535 1 2 , within 3 days from the date of sale or transfer and are obliged to report of the purchase sale of shares shares of the company in the next meeting. #y the end of the quarter and year end, the $ompanyâ&#x20AC;&#x2122;s Secretary 0fĹłce will send a notiĹłcation to prohibit the directors and the departments involved not to disclose the information to the third party or persons not involved, as well as no trading of the $ompanyâ&#x20AC;&#x2122;s stocks in the period of 45 days from the closing date of the Ĺłnancial statements until the disclosure date of the Ĺłnancial statements to the public, in order to prevent the illegally use of inside information. During the past year, the #oard and the management adhered strictly to this measure. 5IF CPBSE NFFUJOH The $ompany has scheduled the #oard Meeting in advance, and let each director know the schedule so that the directors can arrange the time to attend the meeting, as well as any special meetings as necessary. In each meeting, the company has set a clear agenda and sending notice of the meeting and details more than 7 days prior so that the #oard of Directors will have sufĹłcient time to study before the meeting. The written record of the meeting has also been arranged with proper record keeping of the Meeting 3eport that has been approved by the #oard of Directors, making it available for inspection review by the #oard of Directors and related parties.

In each meeting, the $ompany has allowed the non executive directors to hold a meeting among themselves, without the executive directors present at the meeting so that the non executive directors can freely offer suggestions are helpful to $ompany and beneĹłcial to the operations.

176 In 2012 the #oard of Directors had 4 times of the meeting among themselves, 4 meetings of the "udit $ommittee, 5 meetings of the &xecutive $ommittee. &ach meeting took about 3 hours, with details as follows "n enumeration of #oard Meeting "ttendance in the :ear 2012 /o. of Times

Name-Last Name

1. 1ol. Sub -t. ,riengsak 2. Mr. 1arames 3. Mr. /oppadon 4. Mr. 1hiched 5. Mr. Tawat 6. Mr. Vichit 7. Mr. 1rasert 8. Mr. 1ornsak . Mrs. 6bonrat 10. Miss Tamonwan

Board of

Audit

Executive

Shareholderâ&#x20AC;&#x2122;s

Director 10 Persons

Committee 3 Persons

Committee 4 Persons

General Meeting 10 Persons

5 Times :ear -ohachala 4 4 3achKaibun 4 4 Tansalarak 4 4 Maneerattanaporn 4 4 Meeprasertskul 4 4 Dilokvilas 4 4 Virasathienpornkul 3 4 -imboonyaprasert 4 4 #hokamonwong 4 4 /arinthavanich 4 4

4 Times :ear 6 Times :ear 5 5 5 5 5 5 5 5 3 4 4 4 4 4

"pril 22, 2012 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1

5IF OPNJOBUJPO BOE BQQPJOUNFOU PG UIF %JSFDUPST The $ompany does not have a /omination $ommittee. The #oard of Directors will consider a person to be appointed as director, whether it is director who is a representative of the shareholders or independent, based on the appropriateness of skills and experience that will strengthen the #oard. However, the appointment of new directors to replace the directors who have served full terms must be approved by the shareholders individually by a resolution according to the $ompanyâ&#x20AC;&#x2122;s regulation, as follows 1. Individual of the shareholders will have his votes equal to the number of shares held, assuming one share one vote. 2. &ach shareholder will use all votes he has as per 1 in selecting one or several directors but cannot split the votes to any person in particular. 3. Individual Director who has been nominated must have afĹłrmative votes of more than half of the total votes of the shareholders attending the meeting and entitled to vote. The company will present information to director and to the (eneral Meeting for consideration together with education background, work experience, as well as other business and legal disputes if any . In the case of a Director being re elected, there would be more information about the number of meeting attendance, including the work of the director during the past year for the consideration of the shareholders. 4. The $ompany has prepared a manual about the #oard of Directors and provided an orientation for the new director to get to know the nature of the business, policies and operations of the the $ompany. In 2012, Master "d allowed shareholders to propose names for consideration to be Directors, but nobody proposed any appropriate names. The $ompanyâ&#x20AC;&#x2122;s Directors proposed the names of three Directors whose term ended for reelection for another term, since during their tenure of ofĹłce they performed well, namely Mr. 1arames 3atchKaibun, Mr. /oppadon Tansalarak and Mr. Vichit Dilokvilas The assembly reelected them as proposed by the #oard of Directors. In the event there is a vacancy for whatever reason other than end of ofĹłce term, the #oard will propose a qualiĹłed candidate to the #oard for appointment as a Director in the following #oard Meeting, with maKority votes of three fourths of the remaining Directors selected Directors shall hold ofĹłce equal to the remaining term of the retired Director.

177 4FMG BTTFTTNFOU PG UIF #PBSE The $ompany evaluates the performance of the #oard annually. "n evaluation form of the individual Self assessment consists of six topics, namely the structure and qualiĹłcation of the #oard, roles and responsibilities of the #oard, the #oard of Directorsâ&#x20AC;&#x2122; meeting, the duties of the director, development of the director and executives. This is to be compared to the directorâ&#x20AC;&#x2122;s results of a comparative evaluation in each of the years in order to improve the performance of the directors. The evaluation can be concluded that the director is qualiĹłed and has performed the duties with responsibilities in accordance with the guidelines of the director. 3FNVOFSBUJPO PG UIF #PBSE PG %JSFDUPST The #oard Kointly considers remuneration of Directors and "uditors by comparing with companies in the S&T and competitive industries, before presenting it to the shareholders for approval in an "nnual (eneral Meeting. The remuneration is divided into two types meeting allowances, paid to all Directors attending the meeting and the annual remuneration paid only to Independent Directors. Master "d maintains a policy of disclosure of individual Directorâ&#x20AC;&#x2122;s remuneration for transparency. %FWFMPQNFOU PG %JSFDUPST BOE &YFDVUJWFT The $ompany has a policy to promote knowledge to develop the directors and its executives as follows 1. 1roviding an orientation to the #oard members who have been newly appointed with the Directorâ&#x20AC;&#x2122;s Manual, so they will be acknowledged of the roles and responsibilities of being the $ompanyâ&#x20AC;&#x2122;s director. The $ompanyâ&#x20AC;&#x2122;s Secretary is responsible for explaining the business operations of the $ompany to the #oard. 2. The new Director of the $ompany has to be trained in the course ÄśDirector "ccreditation 1rogram D"1 .Äˇ 3. If there is any Director interested in the course ÄśDirector $ertiĹłcation 1rogram D$1 Äˇ or others, the $ompany will be responsible for the costs. In addition, the #oard of Directors has been encouraged to participate Thai Institute of Directorsâ&#x20AC;&#x2122; courses as well as other courses related to the development of the #oard. In 2012, Miss Thamonwan /arinthavanich, the director and secretary of the $ompany has been trained on T-$" &xecutive Development 1rogram &D1 $lass , organized by Thai -isted $ompanies "ssociation. 5SBJOJOH DPVSTF GSPN UIF 5IBJ *OTUJUVUF PG %JSFDUPST *0%

Training Courses Name-Last Name

1. 1ol. Sub -t. ,riengsak -ohachala 2. Mr. 1arames 3achKaibun 3. Mr. /oppadon Tansalarak 4. Mr. 1hiched Maneerattanaporn 5. Mr. Tawat Meeprasertskul 6. Mr. Vichit Dilokvilas 7. Mr. 1rasert 8eerasatienpornkul 8. Mr. 1ornsak -imboonyaprasert . Mrs. 6bonrat #hokamolwong 10. Miss Tamonwan /arintavanich

Directors CertiďŹ cation Program Directors Accreditation Program (DCP)

(DAP)

44 04 65 05 20 02

07 04 56 06 07 04 33 05 07 04 33 05 76 08 80 0 76 08

178 $POĹ´JDUT PG JOUFSFTUT In order to prevent conĹ´icts of interests, the $ompany has set guidelines for the #oard, executives and employees as follows 1PMJDZ SFHBSEJOH UIF VTF PG JOTJEF JOGPSNBUJPO 1. 1rohibit the #oard from entering in any operation or a partnership or a shareholder in any entity in the same business nature and in competition with the business of the the $ompany, unless the meeting of the shareholders has been informed prior to the appointment. 2. &xecutives and employees shall not use inside information to their advantage in trading the $ompanyâ&#x20AC;&#x2122;s shares or disclose the inside information, which may cause damage to the shareholders, to the parties involved. To prevent the purchase or sale of shares using the inside information and to avoid scandal about the appropriateness of the purchase or sale of shares by insiders, the executives and the staff involved in the trading must do as follows Äť

If the #oard has to buy Äą sell or there is any change in the shareholding of the $ompany, a report must be made everytime to the meeting of the #oard.

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&xecutives or employees involving in trading or any change in the stock holding are be required to report to the Secretary of the $ompany within 3 days after the change.

3. &xecutives and employees should not do the trading of the $ompanyâ&#x20AC;&#x2122;s stocks before the release of the Ĺłnancial statements or other information related to the $ompanyâ&#x20AC;&#x2122;s status including other important information. The trading by both executives and employees should be done at least a period of 24 hours after the public disclosure has been made. 4. &xecutives and employees should not take advantage or use the information from being the executives or the employees of the $ompany in doing any business that is competing or related to the business of the $ompany. 5. In the event that the $ompany and its subsidiaries have connected transactions or the $ompanyâ&#x20AC;&#x2122;s important property trade, the directors and the management shall oversee the practices to abide by the perusal process. To accomplish this, there shall be a meeting to consider and stimulate the guidelines on comprehensible transactions, which shall pass the audit committeeâ&#x20AC;&#x2122;s careful perusal Ĺłrst. The audit committee shall peruse the transaction by according the greatest importance to the best interest of the $ompany and its shareholders. The directors or the stakeholders who are involved in the matter shall leave the meeting. "fter the resolution is carried out, the directors shall supervise the adherence of such stipulations as well as the information dissemination via different channels so that all stakeholders are comprehensively and equitably informed. 1PMJDJFT JO HJWJOH PS SFDFJWJOH B HJGU, PS FOUFSUBJONFOU 1. &mployees shall not receive or agree to receive any money or any other beneĹłt from the persons doing business with the company. 2. &mployees may receive or give a gift as traditions. In giving or getting a gift, it must not affect the decision of the receiver. The gift should be something that is not worth much and should not be cash or cash equivalent. 3. If employees receive a gift that is worth more than the conventional norms from those having the business with the company, they should report the matter to the supervisors in charge. 4. (iving or getting a gift may be done with transparency, or in the open, or can be disclosed.

179 %JTDMPTVSF PG USBOTBDUJPOT QPTTJCMZ XJUI DPOĹ´JDUT PG JOUFSFTU Master "d has prescribed that Directors and &xecutives shall disclose items which may have conĹ´icting interest with Master "d 1ublic $o., -td. considering it as an internal control process, inclusive of prescribing the Internal "uditing 0fĹłce to monitor and solve conĹ´icting interests and report directly to the #oard of "uditors. In the past, such problems never arose. "XBSET BOE 3FDPHOJUJPO In 2012, Master "d 1ublic $o., -td. has been awarded as follows Master "d 1ublic $o., -td. was selected as one of "siaâ&#x20AC;&#x2122;s 200 #est 6nder a #illion, resulted from the search of top 00 companies across the "sia 1aciĹłc region with the growth in both sales and earnings from 5 million 1,000 million 6S dollars. Master "d 1ublic $o., -td. has won two prestigious awards, including the #est $&0 "wards, and the #est 1erformance "wards in M"I Stock &xchange at the S&T "wards 2012, organized by the Stock &xchange and the #anking and Finance +ournal on /ovember 22, 2012. #eing evaluated on corporate governance ranking as favorably with the average score by 86 . #eing evaluated on the (eneral Meeting of Shareholders for the year 2012 and was rated as &xcellent with the highest score of 100 points.

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The above award reĹ´ects the #oard of Directorsâ&#x20AC;&#x2122; commitment and dedication in order to increase the value to the $ompanyâ&#x20AC;&#x2122;s business through management, corporate governance and conducting the business with social responsibility for the beneĹłts of the $ompany and the shareholders. Human resources

From the beginning of conĹłdence to the recognition for more than 25 years in the 0HM, the $ompany has adhered to management policy and advanced quality standards under the IS0 001 2008, the Ĺłrst one in Thailand. 8e also have combined the concept of human resource management by being Smart, $reative Innovative to the continuous development to upgrade and increase the capacity of staff skills, knowledge and ability as well as building positive attitudes to create a culture of creative collaboration. 8e are committed to meet the organizationâ&#x20AC;&#x2122;s Maximize $onnecting the Moving -ife. 8e believe that employees with potential is the most important mechanism that enables organizations to grow continuously and steadily. /umber of employees of Master "d 1ublic $o.,-td. by main business lines No. of employees Main Job line

1. &xecutive Department 2. Marketing Department 3. Sales Department 4. 1roduction &ngineering Department 5. "ccounting and Financial Department 6. "dministraion Department 7. #usiness Innovation Development Department 8. -egal Division Total

No. of employees

December 31, 2012 December 31, 2011 December 31, 2010

41 16 24 10 18 17 1 2 129

45 15 27 10 16 14 1 2 130

21 18 21 6 15 15 2 2 100

180 3FNVOFSBUJPO The $ompany has its policy to pay appropriate remuneration to the employeesaccording to qualiĹłcations, knowledge and work experience. The $ompany has conducted a review for salary adKustment on a yearly basis based on the performance of the employees. The $ompany has adopted #alance Score $ard and ,ey 1erformance Indicators ,1Is

approaches to determine the performance of the employees and departments according to the Äś1ay for 1erformanceÄˇ compensation scheme as same as we did in the past year. The annual bonus is paid according to the $ompanyâ&#x20AC;&#x2122;s annual Ĺłnancial results and the performance of employees on the same basis. Details of $ompensation to the employees &xcluding &xecutives

Detail

Salaries and other employee expenses $ontributions to the 1rovident Fund &+I1 5PUBM

2012

58,151,502.67 1,467,8 3.00 562,547,40 60,181,943.07

2011

42,886,037. 1 714,646.4 435,133.48 44,035,817.88

2010

41,743,0 1.27 445, 61.00 166,418.88 42,355,471.15

2009

42,73 ,221.35 450,561.00 43,189,782.35

"dditionally, the $ompany has arranged various sales awards to promote and stimulate continuous sales namely, /ew Sales Star of the :ear "ward, /ew $ustomers Sales "ward, Top Sales "wards for individual and team, 0utstanding Sales "wards for individual and team, and Top Made to 0rder Sales "ward. 8FMGBSFT In addition to the monthly salary, the $ompany also provides welfares for its employees appropriately according to economic and living conditions. They are as follows

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1rovident fund. This year, the $ompany has increased the proportion the employers to the provident fund for every employee. Full incentive for the employees who work regularly throughout the month. Scholarships for the postgraduate study in order to raise the educational level of the employees. (ifts in various occasions such as birthday, graduation, marriage or having a new born child. "n incentive to promote and maintain the staff working with the $ompany for a longer period of time i.e. 10 years, 15 years, 20 years and it Kust has been extended to over 25 years, 30 years and 35 years respectively. Health and welfare beneĹłts for the employees inclusive with life insurance and accident insurance. -ife insurance is for employees who work outside the ofĹłce, health insurance to reduce the treatment costs for both outpatients and inpatients. From last year, the $ompany has added health insurance coverage to the employees at all levels and arranged for an annual physical check up. Furthermore, the $ompany has also added to the health check up list for the executive level to increase surveillance and reduce the risk of illness among them. "ctivities to promote unity among the staff such as an annual trip, sporting events, fairs and parties on various occasions, including the /ew :ear, so that the employees can do things together and in the same time they would be relaxed from the stress in the workplace as well. The $ompany has also arranged the traditon of water sprinkling for the executive on Songkran Festival in order to preserve Thai tradition. 8elfare in case of emergencies such as emergency welfare for Ĺ´ood victims as well as the welfare to assist the victims of other natural disasters.

3FDSVJUNFOU BOE 1FSTPOOFM 4FMFDUJPO The $ompany has paid a lot of attention on the process of selecting and recruiting new personnel. 0ur focus is to select the good and high caliber person to Koin the $ompany. In addition to the selection of qualiĹłed personnel, the $ompany also has a process to select the staff that suits the organization and the team. The $ompany has established a procedure to test and measure competency, attitude and ability to work in each position as well as focusing on providing the employees with the skills and enKoyment while performing the Kob. In the past year, the $ompany executed the

181 proactive for recruitment by building relationships and arranging activities with leading institutions, including cooperative education programs, the contest of the design work and ÄśM"$0 (0T T"-&/T Finding 1roKect Management TraineeÄˇ, a program that allows young people to Koin us to show their potential before being selected to work with the $ompany which is another way to irecruitme more quality persons to work with $ompany. 1FSTPOOFM BOE &GĹłDJFODZ %FWFMPQNFOU 8e are conĹłdent that personnel development by various methods is important to encourage people with potential and performance to maximize their knowledge and skills that will help strengthen the competitiveness of the organization. The program is divided into training and development for both new staff and the existing ones. 1. 5SBJOJOH BOE EFWFMPQNFOU UIF OFX TUBGG

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0rientation for new staff a training that provides knowledge and understanding to new personnel from the Ĺłrst step of Koining the company in order to understand the organizationâ&#x20AC;&#x2122;s basics and enable him to spend the work life with the $ompany. The $ompany provides the on the Kob training for each Kob position in cooperation with his department and related departments. It includes basic instruction, i.e. 1roduct ,nowledge, Taxing for #illboards, basic knowledge about IS0 001 2008 standard, $ore $ompetency courses and others courses based on the performance of each position until the end of the trial period. This is to ensure that new staff will have new knowledge to be applied in practice in their Kob and in line with the nature of the $ompanyâ&#x20AC;&#x2122;s business. 8e also provide other training such as basic welfare of the employees according to the law, safety training courses, ĹłreĹłghting training and Ĺłre evacuation courses. ÄśThe $&0 meeting with the staffÄˇ activity has been conducted to let the employees understand working concept, policies and corporate culture through direct communication from the $&0. The staff have been impressed and realized of their important role in Koining the $ompany.

2. 5SBJOJOH BOE EFWFMPQNFOU GPS UIF FYJTUJOH TUBGG The $ompany has established a plan for personnel development individually to encourage employees to meet the operational goals as well as to prepare them for the Kobs transfer, promotion, and modiĹłcations. These include the framework of development as follows

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Development according to Training 3oadmap by the position and years of service so the employees will be equipped to handle management for each position according the the $ompanyâ&#x20AC;&#x2122;s expectations. 1ersonnel development according to the Individual Development 1lan ID1 which is designed to enhance the performance of individual employees so they would be able to fulĹłll their individualâ&#x20AC;&#x2122; goals including the development of knowledge, skills and attitudes based on the procedures as follows In house Seminar , the experienced staff from various aspects will be assigned to be the trainers. &ach department will select the competent personnel as the trainers to share the skills and expertise to the others.

There are also seminars handled by the experienced outside speakers who are expert and knowledgeable in certain subKect, in order to share the concept in management to the supervisor level. For example, ,nowledge of Finance and Investment by ,hun 1rasert Virasathienpornkul Finance for /on Finance by ,hun ,amonwan $hunhakasikarn, #usiness "dvisor of ,1M( 1hoomchai $o., -td. and How to 3ight a #usiness 1lan by Dr. :anyong Thaicharoen, $hief Strategist, 0rganization Strategy 6nit, #ank of Thailand, etc.

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Sending the staff to attend seminars outside the $ompany. Sending the staff to visit leading companies and trading partners both domestic and abroad for knowledge and technology exchange.

182

Äť

The $ompany recognizes the effectiveness in applying the knowledge in various ways. Therefore, we have arranged a monitoring and follow up process through the supervisor of the trained staff. This process of personnel development has been carried out seriously with all levels and will be reviewed on a yearly basis for suitability and updating.

The $ompany has set the framework to develop the $ore $ompetency and continuously communicated 7 items of the $ore $ompetency to the employees. "s for this year, the $ompany will continue to use the $ore $ompetency to assess individual potential. It would be a 360 decree assessment by having the related staff do the assessment of each other Äą the supervisors, the subordinates, the colleague, the customers and self assessment. "fter the assessment process, the $ompany has sent the scores back to each individual employee and department so that all will be aware of the result and carry on the improvement for him and the team as well as to use the score as a part of performance evaluation for remuneration and annual bonus reviews. To handle this, the $ompany has utilized the 360 decree online evaluation to facilitate the process and be paperless as well. This assessment is in parallel with promoting the understanding and encouraging the behavior which is in consistent with the $ore $ompetency. It is a new way to create a culture of collaboration, i.e. exchanging the cards with each other among those who fulĹłll the $ore $ompetency as well as giving the award for those who get the right card at the right time. This activity has got a very good cooperation from the management and staff at all levels in the $ompany. The 7 items of the $ore $ompetency are set as the policy and serve as the guidelines for all staff so that the $ompany will be able to achieve the vision, the mission and the goals. They are 1. "DDPVOUBCJMJUZ : ability to perform duty under oneâ&#x20AC;&#x2122;s responsibility and connection, so as to reach the goal within the speciĹłed time, inclusive of performance report which can be veriĹłed, 2. 5FBNXPSL : ability to work with others to reach the same goal of the group by sharing skill, knowledge and experience, inclusive of ability to present guideline to work together creatively, 3. $POUJOVPVT *NQSPWFNFOU : ability to develop work, including method, concept and result continually, in order to obtain better method, concept and result, 4. 4FSWJDF .JOE : customers service mind, with good reaction to meet customerâ&#x20AC;&#x2122;s need, so as to provide maximum satisfaction to customers, 5. &OUSFQSFOFVSTIJQ : participation in the work, as if the work one is working on is his own, that he would be responsible for the best performance, 6. (PBM 0SJFOUBUJPO : determination and endeavor to work for success according to the obKective and speciĹłed goal, 7. $PNNVOJDBUJPO : ability to communicate and help others to acknowledge and understand rightly and effectively through listening, speaking, reading and writing. 4UBGG %FWFMPQNFOU GPS $BSFFS "EWBODFNFOU In addition to training and staff development, the $ompany also takes in to account to provide the employees with career advancement by covering personnel preparedness for the advancement of individual personnel along with the success of the organization. The company has focused on improving weaknesses and enhancing strengths from the supervisorâ&#x20AC;&#x2122;s assessment, so the staff can have skills and ability for future responsibility as well as being aware of the opportunities for advancement. During the past year, the $ompany has developed the organizationâ&#x20AC;&#x2122;s successor program by assigning various proKects for the staff to do together including assigning them to attend the meeting with the leaders to learn and work at the same time. They also have the opportunity to present their skills in the areas such as capacity building and preparing the subordinates to move into higher positions. 8e have found that this is a way to keep the personnel to continue being with the $ompany.

183 0SHBOJ[BUJPOÄ´T %JSFDUJPO BOE $PNNVOJDBUJPO The $ompany realizes the importance of communication because communication is essential to help the staff of all levels have the same vision and gold. Therefore, the $ompany has conducted various meetings to review and summarize the results for each quarter in all units so that they could make the improvement to meet the target as planned. In addition, we have also arranged an activity to communicate the operational results on a quarterly basis across the organization throughout the year to allow employees at all levels to be aware of the operation and the performance of the $ompany and departments including the obstacles or impacts that might occur in each quarter. This will lead to further improvement and knowledge sharing with other departments resulting in a smoother operation and better team work. The $ompanyâ&#x20AC;&#x2122;s management and the Successors of each unit have Kointly prepared a strategic plan for the operation of the $ompany anization under the policy direction and goals from the #oard of Directors. The $ompany opens an opportunity for the staff of early management level or ÄśsuccessorsÄˇ to get involved from the beginning in planning and translating the direction to various units, from strategy to business and budget planning in the same harmony and direction. During the past year, the $ompany made some chages in communicating business plan and operation plan. The whole staff were invited to participat in the programme, for example, the $ompany arranged the contest on presenting the operation report for 2012 and 2013 of each department and shared the result to others in various departments, which helped everyone understand the goal and contribute to a better cooperation. From this activity, we arranged for an overall summary poster contest among various departments as well, which help explain to the staff at all levels the direction that corresponds to the efĹłciency and effectiveness resulting from participation and understanding of the same goals. The management and staff of all levels have also set up the obKectives and the ,1Is that are translated from organizational level to the department and the staff levels. Such obKectives and the ,1Is would be used as the criteria for performance assessment which leads to remuneration and annual salary adKustment reviews. 4USFOHUIFOJOH PG HPPE DPSQPSBUF SFMBUJPOTIJQ Master "d encourages activities among executives, employees, and between employees and the company, by arranging recreational activities in various forms, such as regular parties for close friendship and understanding. -ast year, the $ompany also held activities to promote teamwork, so that everyone could work together without distinction of levels, which lead to improved cooperation and understanding. #esides, the $ompany also provides communication feed back from employees through an employees satisfaction survey in various aspects. This helps the $ompany and the executives know and understand employees requirements. The $ompany is certain that good communication and exchange of ideas between the management and the employees will lead to good relationships and Koint attainment of the $ompanyâ&#x20AC;&#x2122;s goal. .BJOUFOBODF PG XPSLJOH FOWJSPONFOU Master "d has improved its ofĹłces and working environment for employees, aiming at creating the feeling of being a second home, so that the working place and its environment are conducive to business operation. The $ompany is mindful of physical health, cleanliness and safety of the staffâ&#x20AC;&#x2122;s lives and property it therefore organizes 5 Sor activities in the ofĹłces on a continual basis. There is a quarterly competition on 5 Sor areas in the $ompany. It also provides safety ofĹłcer at the executive level, professional safety ofĹłcer, and Safety $ommittee on health and environment in the working place, to take care of welfare and safety in the ofĹłce and the $ompany. The $ompanyâ&#x20AC;&#x2122;s also Koins the 8hite Factory 1roKect of the Ministry of -abour and Social 8elfare, to show its intention to make a work place free of narcotics on a continuous basis.

184

Internal control Internal control system

The company has recognized the importance of continuous internal control. The #oard has entrusted to the "udit $ommittee to review and evaluate the internal control system to ensure its adequacy and appropriateness to the business, effectiveness and efĹłciency of operations, the use of resources, property maintenance to prevent or minimize the damage, leakage or wastage and corruption, accounting and Ĺłnancial reporting in an accurate and reliable manner, as well as abiding to laws and regulations relating to the business. The "udit $ommittee functions and comments freely. The "udit 0fĹłce of the "uditor IV- $o., -td. will audit the $ompanyâ&#x20AC;&#x2122;s internal control system to ensure its effectiveness and being up to date, by monitoring the internal control systems as follows 1. Sales and revenue collection system 2. Media production and advertising costs system 3. (eneral procurement and property control systems 4. H3 system 5. Financial, accounting, budget and taxation systems, and additional investigation of the information system twice times a year Risk Management

Master "d 1lc $o., -td. and its afĹłliates have recognized and focused risk management in order to mobilize the $ompany efĹłciently with stability, Ĺłnancial sound and be able to generate the satisfactory beneĹłt to the shareholders. 6nder the businessâ&#x20AC;&#x2122;s complexity and continually changing, the #oard and directors of the $ompany have agreed to utilize of the risk management system in the $ompany as a tool to assist in determining the direction, strategy, and its business operations as well as enhance the capacity building, ceate business opportunities, as well as improve the processes continuously. The risk management system will also help the company to achieve its overall obKectives with good corporate governance and to create additional value for shareholders and stakeholders. #y adopting risk management as part of corporate culture, employees at all levels have been aware of their responsibilities in the risk management and Kointly set the risk management policies as follows 1. 3egarding any acceptable risk with the level of risk acceptable to the $ompany, the 3isk Management committee must give an approval prior to any implementation. 2. The risk management is the responsibility of staff at all levels. &veryone is to be aware of the risks that is taking place in each oneâ&#x20AC;&#x2122;s department and the $ompany and everyone needs to focus on managing risks under the internal control system at adequate and acceptable level. 3. &ncourage and support the risk management as an important tool in personnel management. The staff at all levels must understand, cooperate, and use the risk management for a good image as well as strengthen good governance, management excellence, and create conĹłdence to the shareholders stakeholders of the $ompany. 4. 1romote and develop the use of modern information technology in risk management of the $ompany. 1ersonnel at all levelsmust be able to access to information concerning the risk management thoroughly as well as set a reporting system on risk management to the 3isk Management #ody and $ommittee effectively.

185

Risk Factors Master "d 1ublic $o., -td. has managed the risk according to the strategy of each business unit with a focus on maintaining a competitive position, investment for business expansion and creating more value to the business. In 2012, risk factors were managed and controlled to a certain level. However, to manage risks from severe business competition and uncertainty in global economic, the $ompany has considered the risks that may prevent it from achieving the goals and strategy, at the same time the $ompany still maintains maKor risks as follows 1. Business Risks

The overall picture for 2012, there were signiĹłcant events affecting the global economy and the Thai economy. The &uropean debt crisis with a great impact on the economy of various countries around the world making the economy in 2012 expanded at a lower level than previously estimated. In Thailand, the issue of minimum wage policy of 300 #aht was a controversy and created concerns about rising product prices due to higher wages. However, with the growth of the automotive industry resulting from the cumulative production in 2011 year due to the Ĺ´ood. Thailandâ&#x20AC;&#x2122;s auto sales has grown like never happened before. Total sales was almost 1,420,000 cars or a growth rate of 7 which has been considered as a very high growth. For Master "d 1ublic $o., -td., we put emphasis on doing the business with clear future that reĹ´ects the investment opportunities and generate highest revenue to the $ompany, the shareholders and the society. The investment must be related to the yield. In 2012, despit the rising wages of 300 #aht but M"$0 has not been affected because 5 of the employees already earn their wages exceeding 300 #aht. The minority who got the wage raise did not affect the $ompany signiĹłcantly. There was nothing different about the costs with the contractors, and M"$0 still got the same rate as usual. 0nly a few contractors that provided the service in small volume that increased the cost slightlyof about 3 . The contractors that have adKusted the cost were Kust 10 of all the contractors. "s a measure to curb with the increasing cost in the production of advertising, M"$0 has bought shares in Ink +et Images Thailand $o., -td. in 2013 representing the shareholding to 50 from 33.33 in order to control the costs and maximize the beneĹłts to the $ompany. 2. Financial Risks

#ank of Thailandâ&#x20AC;&#x2122;s monetary policy in 2012 put focus on maintaining the stability of the economic in accordance with the worldâ&#x20AC;&#x2122;s scenario. " slowdown in the global economy was an issue that needed to be monitored closely since it could affect Thailandâ&#x20AC;&#x2122;s economy. Meanwhile, the inĹátion pressure which was supposed to be another risk factor for Thailandâ&#x20AC;&#x2122;s economy was less when compared to the year 2011. Therefore, the Ĺłscal policy of the #ank of Thailand would focus on business growth and respond to Ĺúctuations in the world economy. In early 2012, the Monetary 1olicy $ommittee M1$ of the #ank of Thailand decided to cut interest rates to 0.25 , from 3.25 to 3 , in order to stimulate the economy back to normal. The maKor Ĺóod in late 2011 had caused damages to Thailandâ&#x20AC;&#x2122;s economy and the conĹłdence of investors considerably. However, Thailandâ&#x20AC;&#x2122;s economy has gradually recovered. 6ntil the end of 2012, M1$ decided to reduce the interest rate again by 0.25 to 2.75 after maintaining the interest rate at 3 since the beginning of the year. $oncerning the Ĺłnancial risks in the past year, the $ompany was not affected at all since in 2012 the $ompany did not invest in large amount and used mostly its own working capital. For exchange rate risk during the last year, the $ompany did not engage with the exchange rates. Therefore, no impact from currency exchange.

186 1ossible liquidity risk is that the customers may be unable to pay debts within time. To manage this risk, the $ompany has assessed the Ĺłnancial viability of the customers from time to time. This year, the $ompany could effectively manage the customer accounts. This is noticeably when the account receivables did not grow in proportion to the growing revenues. This yearâ&#x20AC;&#x2122;s debt reserve for doubtful debts decreased over the years 2011, and trade accounts receivable was Kust 72 days on average comparing to 2011 which was 75 days. For 2013, the $ompany has requested the #oard of Directors in advance for debentures credit to prepare in case of there is any maKor proKects which require a large investment. In the amount not exceeding 1,000 million #aht and will present to the shareholders for a resolution. This measure will prevent the risk if the Ĺłnancial institutes would not grant the loan in full amount as required. It is also a management of Ĺłnancial cost as well. 3. The Risks from Billboard Control Laws

In 2012, the $ompany continued to maintain the policy of installing only the legal billboards. 8e have a team to catch up with legislation so that any future legal changes would not affect the $ompanyâ&#x20AC;&#x2122;s operation. &very year, the $ompany has conducted the examination of the building and billboard structures that are registered with the Department of 1ublic 8orks and 6rban 1lanning. The $ompany continues to inspect and certify every of its billboard including coordination with the "dvertising and Sign 1roducing "ssociation to ensure the stability of the structures of all signs and billboards which are endorsed with the logo ÄśSafety 12Äˇ. 4.

A risk on Changes in the Age of Digital and Online Advertising

In 2012, 0fĹłce of The /ational #roadcasting and Telecommunications $ommission /#T$. has Ĺłnalized the bidding of 3( Technology. $urrent consumerâ&#x20AC;&#x2122;s behavior has been changed by technology. Therefore, the expansion of online digital media and smart phones will play a very signiĹłcant role in the life and behavior of consumers. In 2012, an overview of the advertising industry would grow by 12 14 and was estimated at 120,000 million #aht. TV is the lifeblood of 60 of the advertising budget. The overall industry trends and advertising this year was expected to grow at least 10 under the calm political conditions or no natural disasters. The beverage, automotive, consumer products and technology are among the highest ad spending this year, according to the 1resident of the "dvertising "ssociation of Thailand. M"$0 has viewed that the "ge of Digital and 0nline "dvertising has an increasingly important role in the advertising communications. #ecause customers want a fast response and to reach to the target audience extensively. They also want the audience to remember the product, so it is always necessary to introduce the billboard advertising in a form of digital media and online advertising, to keep the target remember the product as long as possible and reach to the purchase. M"$0 sees trends in the digital and online advertising. Therefore, we have brought in new 23 $ode technology 2uick 3esponse , "3 $ode "ugmented 3eality for the billboard and Made to 0rder advertising since 2011 as interactive in the advertisements. "dditonally, M"$0 has set up a team to study and manage the Digital and 0nline "dvertising in order to remain advance and respond to the customers on the on going basis.

187

Audit Committeeâ&#x20AC;&#x2122;s Report The "udit $ommittee has fulĹłlled its professional obligations under the scope of authority and responsibility as approved by the #oard of Directors. The $ommitteeâ&#x20AC;&#x2122;s foremost duties include 1 ensuring that the $ompany has reported its Ĺłnancial statements with accuracy and adequate disclosure, 2 verifying that the $ompany has deployed appropriate internal control systems and internal audits in terms of both efĹłciency and productivity, as well as overseeing the $ompanyâ&#x20AC;&#x2122;s well rounded supervision of its business operation in compliance with the good corporate governance. During the year 2010, the "udit $ommittee has held 5 meetings. The key operations can be summarized are as follows 1. $PMMBCPSBUJWFMZ SFWJFX BOE EJTDVTT UIF $PNQBOZÄ´T ĹłOBODJBM TUBUFNFOU, including quarterly and annual Ĺłnancial statement before submitting for the #oardâ&#x20AC;&#x2122;s consideration and approval. To achieve this task, the "udit $ommittee has held meeting with the $ompanyâ&#x20AC;&#x2122;s authorized &xternal "uditor to gain explanation, remark, and recommendation. The "udit $ommittee considers that, the 200 Ĺłnancial statements are accurately prepared, adequately disclosed, and strictly implemented in compliance with (enerally "ccepted "ccounting 1rinciples (""1 . 2. $POTJTUFOUMZ TVQFSWJTF UIF $PNQBOZÄ´T FGĹłDJFOU JOUFSOBM DPOUSPM TZTUFNT BOE JOUFSOBM BVEJUT. The $ompany asked that the Internal "udit 0fĹłce conduct internal control audits on a quarterly basis and directly report its audit results to the "udit $ommittee. "ll of the "udit $ommitteeâ&#x20AC;&#x2122;s remarks will be perused and taken for further efĹłciency and productivity improvement on the internal control. In 200 , the internal audits additionally investigated the preventive measure against internal fraudulence. The 200 internal audits have shown that the $ompany possesses the appropriate internal control and management at the satisfactory level. 3. 3FWJFX PG DPOOFDUFE USBOTBDUJPOT. The $ommittee looked into connected transactions with The $ompany and those between business groups to ensure that these were conducted at armâ&#x20AC;&#x2122;s length with complete and adequate information disclosure. 4. &OTVSJOH UIF *NQMFNFOUBUJPO PG (PPE $PSQPSBUF (PWFSOBODF The "udit $ommittee has its role to monitor the $ompany be in compliance with the Securities and the Stock &xchange -aw, other relevant laws and regulations, particularly with regard to transactions and transactions that may have a conĹ´ict of interest in order to conform to the principles of good corporate governance. In 2011, the "udit $ommittee agreed that the $ompany has complied effectively with the principles of good corporate governance. "s a result, the $ompany received an evaluation on good governance from Thai Institute of Directors I0D as excellent including S&T "wards 2011 for the #est $orporate (overnance 3eport as well as an evaluation result on the quality of the "nnual (eneral Meeting of Shareholders for the year as very satisfactory. 5. 1SVEFOUMZ TFMFDU UIF 2012 FYUFSOBM BVEJUPS by perusing the scope of service, remuneration, as well as S&$ announcement pertaining to stipulations on auditor and others. The "udit $ommittee has submitted its resolution to the #oard of Directors. In such resolution, the #oard is requested to ask the shareholdersâ&#x20AC;&#x2122; meeting to ofĹłcially approve Mr. Somckid Tiatrakul and or Mrs. Sumalee $hoke anant from (rant Thornton to be the $ompanyâ&#x20AC;&#x2122;s 2012 external auditor. The "udit $ommittee considers that the $ompanyâ&#x20AC;&#x2122; management accords vital importance on the business operation under the good corporate governance and efĹłcient internal control.

.S. 1SBTFSU 7JSBTBUIJFOQPSOLVM $hairman of "udit $ommittee

188

Management Discussion and Financial Analysis An overview of the operation

In 2012, the &uropean debt crisis with a great impact on the economy of various countries around the world making the economy in 2012 expanded at a lower level than previously estimated. In Thailand, the issue of minimum wage policy of 300 #aht, but Master "d 1lc $o., -td. was not affected at all. "dvertising media is the business the product owners are relying on to enhance the brand value. In the same time, the customers want to reach to the targets extensively so the consumers will be reminded of the products not to switch to use the competitorâ&#x20AC;&#x2122;s goods. In 2012, Master "d 1lc $o., -td. got a income of 732.3 million #aht, up 15.24 from the year 2011, with a net proĹłt of 13 .51 million #aht, up 42.38 from 2011, as well as 745.87 million #aht in total assets, total liabilities were 151.01 million #aht and shareholdersâ&#x20AC;&#x2122; equity was 5 4.86 million #aht. From the growth in 2012, Master "d 1lc $o., -td. would like to give additional details as follows Operating results

The operating results and the Ĺłnancial status of Master "d 1lc $o., -td. in 2012 can be summarized as follows Revenue :

In 2011, the (roup earned 732.3 million #aht from services and sales in total an increase of 15.24 over 6.86 million #aht in 2011. The maKor revenue was from services and media production. 800 732

700 600 500 400

M MACO Space

636 476

462

498

30%

4USFFU 'VOJSVSF

300

63%

200

#JMMCPBSE

5SBOTJU

100 0

:Ä´08

:Ä´09

:Ä´10

:Ä´11

:Ä´12

Revenue Non MACO Space

14%

.BEF UP 0SEFS

31%

&WFOU

86% 69%

."$0 4QBDF

/PO .BDP 4QBDF

189 The revenue from services and media production can be categorized in 2 groups, namely, M"$0 Space which generated a percentage of 86 and /on M"$0 Space which contributed 14 of the revenue. M"$0 Space consists of the media such as billboards, street furniture, and transit. /on M"$0 Space consists of the media in the range of &vent and Made to 0rder. In 2012, M"$0 Space had the growth in revenue of 5 and /on M"$0 Space had the growth of 11 . "lso in 2012, there was a recognition of revenue from the Index M"$0 D103 Koint venture for another 43 million #aht. The growth 2012 was the result from the $ompany’s adKusting its sale strategies, utilizing more technology with the media as well as being more creative in the work and services. The outstanding sales in 2012 came from, for example, $oke’s 3D Mapping, /issan’s launch of S:-1H: car using "3 $ode "ugmented 3eality, the production of "mbience $oke with massive digital gateway and the Mock 6p stand for -evi’s Keans, etc. Costs and expenses

In 2012, the (roup’s sales and services costs were 380 million #aht, increased from 2011 by 23.82 as resulted from the increased rental fee for M"$0 Space, softdrink using the transit media as well as depreciation cost from the improvement of the media. 3egarding Street Furniture media and $ity Vision #TS media, there was an increase in billboard taxes due to increasing advertising space. The increase in revenues from the Made to 0rder had a variable cost related to the revenue incurred. The cost from the Index M"$0 D103 Koint venture also added to the total amount of the expenditures. 800

732

700

636

600 500

476

498

462

400 300

380 285

268

307

263

200 100

0 :Ĵ08

39 :Ĵ09

:Ĵ10

:Ĵ11

140

:Ĵ12

In 2012, the costs of sales and services were amounted to 51.82 of its revenue from the service and sales. "ccording to the nature of the business of the $ompany in providing the service and production of billboards, the main costs of sales and service consists of depreciation of the billboards, rental fee of areas for billboards, as well as maintenance cost of the billboards, which amounted to approximately 80 of its sale and service costs. CONSOLIDATE F/S 2011

Selling expenses "dministrative expenses Financial cost Income Tax

74,174,388 120,8 1,0 2 385,784 46,145,5 2

2012

11.67 1 .02 0.06 7.26

63,675, 4 128,5 4,055 625,28 41,717,758

Change 12-11

8.6 17.56 0.0 5.70

10,4 8,43 7,702, 63 23 ,505 4,427,834

14.15 6.37 62.08 .60

In 2012, the (roup spent 63 million #aht in sales, 128 million #aht in management, 0.63 million #aht for ųnancial cost, and 41 million #aht for income tax, making a total of expenses for sales, administration and others at 234 million #aht, which is about 32 of service and sales revenue. Such cost in sales decreased about 14.15 due to less spending on sales promotion and a reduction in provision for doubtful accounts. However, the expenses on the management increased 6.37 due to training and the salaries of the staff as well as the incentive for the staff according to the annual salary adKustment. "dditionally in 2012, the corporate income tax was reduced from 30 to 23 due to the government’s tax policy, as a result the corporate tax decreased by .60 .

190 ProďŹ t

In 2012, the (roup registered a gross proĹłt of 352 million #aht, with the gross proĹłt rate at 7.25 over that of 2011. The net proĹłt for the year 2012 was 13 million #aht, an increase of 41 million #aht over the previous year. Consolidated f/s 2011

(ross 1roĹłt /et income for the year /et income attributable to the $ompany per share #aht

2012

Change 12-11

32 ,030,732 51.77 352,875,070 48.18 7,417,8 8 15.33 13 ,068,804 18. 0.56

23,844,338 7.25 41,650, 06 42.75

0.80

0.24 42.38

In 2012, the $ompanyâ&#x20AC;&#x2122;s gross proĹłt increased by 7.25 over 2011, and the net proĹłt increased 42.75 against net revenues from services and sales at 18. , due to the increase in the revenue from sale and services in 2012, administrative costs in the production at reasonable prices, and effective management of accounts receivable. Therefore, the decreasing reserve for doubtful accounts. The $ompany also had a return on equity 30& for 2012 at 25 with earnings per share of 0.80 baht, while in 2011 the 30& was only 1 .53 . Assets

$PNQPTJUJPO PG "TTFU The current assets and non current assets of the (roup were in the ratio of 1 0.47. #y the nature of the business of the (roup, most of the current assets were cash, cash equivalents. and trade receivables. 8hile the /on $urrent "ssets were estate, building and equipment, most of which were the billboards. 6nit #aht

Consolidated f/s 2012

2011

Separate f/s 2012

2011

3estated

"SS&TS Total $urrent "ssets Total /on $urrent "ssets T0T"- "SS&TS

506,766,744 23 ,103,684 745,870,428

444,608,527 276,076,028 720,684,555

43 ,87 ,430 17 ,786,123 61 ,665,553

314,330,188 20 ,133,887 523,464,075

In 2012, the (roup had total assets of 745.87 million #aht, divided into current assets of 506.76 million #aht, which accounted for 67. 4 of total assets, an increase of 13. 8 over 2011. The primary reason was due to an increase in accounts receivable resulted from revenue increased and short term investments from the increased depositing cash in the Ĺłxed accounts. "lso, in 2012, the (roup had cash and cash equivalents of 232 million #aht or 31.17 of the total assets, an increase from 2011, accounting approximately 30.53 of the total assets. The $ompanyâ&#x20AC;&#x2122;s trade receivables was accounted for 20.85 of total assets, an increase of 16.15 from 2011, while the revenue from sales and services increased to 15.24 . In 2012, the (roup had /on $urrent "ssets of #aht 23 .10 million, accounting for 32.06 of total assets, a decrease of 13.3 from 2011, primarily due to the sale of equipments held in the inventories of 13 million #aht. Furthermore, it was a result from the transfer of work in progress to be the cost of sales to reĹ´ect the revenues for 2012, including the use of prepaid consulting services for research and development proKects that may arise in the future.

191 2VBMJUZ PG "TTFU "s for the quality of assets, the (roup maintained a trade receivable payment policy of not more than 60 days. "s of December 31, 2012, 2011 and 2010, receivable turnovers of the (roup were 72, 75, and 86 days respectively. $ollection period in 2012 was longer than the policy of Master "d 1ublic $o., -td. Therefore, the $ompany has managed the account receivables closely, strating from open the sale to closing the sales, deliveries, after sales service, even to the collection stage together with the Sales Department, in order to manage the receivable with better efĹłciency. 0verdue receivables were sent by the "ccelerated Debts Division to the -egal Section for action, and the $ompany set reserves for bad debts as appropriate on a case by case basis. "s at 31 December 2012 and 2011, the aged analysis of accounts receivable are as follow 6nit #aht

Ages of receivable

Trade accounts receivable Äą general customers /ot yet due 1ast due -ess than 3 months 3 6 months 6 12 months 0ver 12 months Total -ess "llowance for doubtful accounts Trade accounts receivable general customers net

Consolidated f/s

Separate f/s

2012

2011

2012

2011

, 4 ,525

6,572,126

62,1 8,43

58,72 ,125

44,286,1 6, 68,103 2,154,260 37, 24,451 1 1,282,538 35,802,664

155,47 ,874

25,8 4,021 8,030, 51 2,101,14 3 ,240,248 171,838,4 5 37, 73,274

133,865,221

2 ,322,165 6,285,443 1, 44, 68 20,825,761 120,576,776 18, 6 , 13

101,606,863

18,665, 12 6,416,001 1,523,058 20,47 ,465 105,813,561 1 ,31 ,4 1

86,4 4,070

"ging of receivables can be summarized as follows of total Äť $urrent 64 Äť 8ithin 3 months 28 Äť 0ver 3 months 8 During the year, the movements in allowance for doubtful accounts are as follows 6nit #aht

Consolidated f/s

#alance as at 1 +anuary 2012 "dd "dditional allowance during the year -ess #ad debt -ess #ad debt recoveries #alance as at 31 December 2012

37, 73,274 1,7 3,815 22,452

3, 41, 73

35,802,664

Separate f/s

1 ,31 ,4 1 1,255,315 22,452

1,582,441

18, 6 , 13

For the year 2012, the doubtful accounts can be returned for an amount of 3. 4 million #aht.

192 Liquidity

$BTI 'MPX 6nit #aht

Consolidated f/s 2012

2011

Separate f/s 2012

2011

$ash Ĺ´ows from operating activities Income before income tax $ash provided from operating activities before changes in operating assets and liabilities /et cash provided from operating activities /et cash provided from used in investing activities /et cash used in Ĺłnancing activities

180,786,562

143,563,4 0

224,044,325

10 ,7 8,527

206,776, 3 142,661,175 37,226,52

2, 65,816

183,37 ,725 147,611,16 54,40 ,441

1,26 ,884

124,284,0 6 76,5 ,112 18,202,754 72, 63,78

123,2 7,273 115,01 ,863 16, 30,877

3,71 ,8 4

/et increase in cash and cash equivalents $ash and cash equivalents beginning of the year $ash and cash equivalents end of the year

12,468,830 220,033,621 232,502,451

1, 31,844 218,101,777 220,033,621

21,838,077 155, 86,656 177,824,733

4,36 ,0 2 151,617,564 155, 86,656

In 2012, the principal source of fund for the (roup came from its net proĹłt, and when considered together with working capital, the (roup had a cash Ĺów from the operation of 142.66 million #aht. Such cash Ĺów was used to facilitate th operation and other general expenses. In 2012, the company paid a dividend to its shareholders an amount of 68.76 million #aht resulting in the (roupâ&#x20AC;&#x2122;s cash Ĺów used in Ĺłnancing activities totaled 2. 7 million. $oncering the cash Ĺóws from the (roupâ&#x20AC;&#x2122;s various activities, the (roup had net cash of #aht 12.47 million. In 2012, the $ompany had a policy on management and cost control as well as measures of ongoing account management, in order to get more cash into the business and to support the future growth of the company. The $ompany had cash Ĺóws from the investments in ofĹłce equipment as purchasing the equipment and computer programs, an amount of 8.46 million #aht to prepare for any unexpected situations and allow the employee to work at home using the /ote #ook. In addition, the $ompany has deposited the surplus cash from investing activities in Ĺłed account with the #ank to increase revenue for the companywith no risk for 32 million #aht. In 2012, the $ompany had cash and cash equivalents totaled 232.50 million #aht. -JRVJEJUZ In 2012, the (roup had a current ratio and quick ratio of 3.71 1 and 3.65 1 respectively, increasing from 2.38 1 and 2.35 1 respectively in 2011. The reason was from the increase in cash, cash equivalents and short term investments as well as the increase in bill collection of potential customers and accounts receivables. "t the same time, revenues from sales and services increased while current liabilities decreased because some payable from the improvement and development of the $ity Vision #TS which was to be due in 2012. In addition, corporate income tax was reduced from 30 to only 23 . The $ompany had cash in hand to achieve returns at low risk, together with the cost control of the service, all contributed to the $ompanyâ&#x20AC;&#x2122;s having cash and cash equivalents as well as short term investments to generate the business in large amount accounted for 40.44 of the total assets.

193 6nit #aht

Consolidated f/s 2012

$BTI BOE DBTI FRVJWBMFOUT FOE PG UIF ZFBS Temporary investments Total $urrent "ssets 5PUBM $VSSFOU -JBCJMJUJFT T0T"- "SS&TS

Consolidated f/s

2011

2012

2011

*OWFTUNFOU In 2012, the investment was mainly in the purchase of equipments and computer programs to prepare for any unexpected situations, to accommodate future expansion, and allow the employee to work at home. This year, there was no investment in the form of the proKect to support the growth of income because of the limitations in terms of competition and prices on the acquisition of the concession. 4PVSDFT PG $BQJUBM 'VOE The structure of the capital fund and working capital of the (roup in 2012 came mainly from its operating proĹłt. Its debt equity ratio of the shareholders between 2012 and 2011 showed an increase of 0.25 1 and 0.38 1 respectively. In 2012, the shareholdersâ&#x20AC;&#x2122; equity decreased due to the payment of dividend for 2011, details as follows Annual shareholders /Board of director meeting

Type of payment

Payment rate per share (Baht)

$ash Stock Total $ash

0.27 0.40 0.67 0.20

33,74 ,730 124, ,000 22 May 2012 4 , ,563 124, ,000 22 May 2012 83,74 ,2 3 34, ,712 174, 8,563 7 Sep 2012

2010

$ash

0.25

31,24 ,750 124, ,000 10 May 2011

Interim 2011

$ash

0.25

31,24 ,750 124, ,000 6 December 2011

Meeting date

Dividend for the year

1 2012 Shareholder

27 "pril 12

2011

3 2012 #oard of director

1 2011 Shareholder

5 2011 #oard of director

8 "ugust 12

Interim 2012

22 "pril 11 8 /ovember 11

Amount (Baht)

No. of Common share (Shares)

Payment date

194 -JBCJMJUJFT In 2012, the (roup had current liabilities of 136.58 million #aht, non current liabilities of 14.43 million #aht, total liabilities 151 million #aht, a decrease from 2011 by 45,87 million #aht over the year, primarily resulted from the payment of accounts payable operations of 14.83 million #aht, other creditors and the development of the $ity Vision #TS media of 23.21 #aht, and reduced corporate tax of 11.26 million #aht. 6nit #aht

Consolidated f/s 2012

T0T"- -I"#I-ITI&S T0T"- "SS&TS Debt &quity

151,006,166 745,870,428 20.25

2011

3estated

1 6,876,718 720,684,555 27.32

Separate f/s 2012

100, 42,064 61 ,665,553 16.2

2011

133,323,631 523,464,075 25.47

Such decrease made the debt ratio to total assets of the (roupv of 27.32 in 2011 reduced to 20.25 in 2012, which was considered as a low rate debt. The $ompany also viewed that the Ĺłnancial risk was still low. If there was any additional investment in 2012, and the $ompany did not have enough fund for investment, it still would have a high potential to generate debts and hight ability to repay the debt to the Ĺłnancial institutions. &RVJUZ The equity of the (roup in 2012 was 5 4.86 million #aht, an increase from 2011 by 71.06 million #aht or 13.57 , mainly due to the capital increase, and paying dividend in form of ordinary shares to the shareholders as at the (eneral Meeting of Shareholders of 1 2555 on 24 "pril 2012, making a capital stock increase from 125 million #aht to 175 million #aht. The $ompany had a cumulative gain increased from performance and the reduction resulting from the dividend payment, making a proĹłt increase of 15.76 points, or 8.10 . "t the year end of 2012, the $ompany had retained earnings after deducting legal reserve about 210.3 million #aht. For more details, please see Statements of changes in shareholdersâ&#x20AC;&#x2122; equity In the Financial Statements on page 5 and page 6.

195

Audit Fee The "udit Fee for the company and subsidiaries paid comparison as of 31 December . No.

1 2 3 4 5 6. 7.

Paid by

Master "d 1ublic 1lc. Master and More $o., -td. InkKet Images $o., -td. Maco 3ite Sign $o., -td. -andy Development $o., -td. (reen "d $o., -td. Max $reative $o., -td. 5PUBM /on "udit Fee

/one

2012

Audit Fee 2011

2010

850,000 465,000 220,000 5,000 1 0,000 60,000 51,000 1,931,000

840,000 455,000 220,000 5,000 1 0,000 160,000 40,000 2,000,000

840,000 455,000 220,000 130,000 215,000 10,000 1,870,000

196

Audit Committeeâ&#x20AC;&#x2122;s Report as approved by the #oard of Directors. The $ommitteeâ&#x20AC;&#x2122;s foremost duties include 1 ensuring that the $ompany has reported its Ĺłnancial statements with accuracy and adequate disclosure, 2 verifying that the $ompany has deployed appropriate internal control systems and internal audits in terms of both efĹłciency and productivity, as well as overseeing the $ompanyâ&#x20AC;&#x2122;s well rounded supervision of its business operation in compliance with the good corporate governance. During the year 2010, the "udit $ommittee has held 5 meetings. The key operations can be summarized are as follows 1. $PMMBCPSBUJWFMZ SFWJFX BOE EJTDVTT UIF $PNQBOZÄ´T ĹłOBODJBM TUBUFNFOU, including quarterly and annual Ĺłnancial statement before submitting for the #oardâ&#x20AC;&#x2122;s consideration and approval. To achieve this task, the "udit $ommittee has held meeting with the $ompanyâ&#x20AC;&#x2122;s authorized &xternal "uditor to gain explanation, remark, and recommendation. The "udit $ommittee considers that, the 200 Ĺłnancial statements are accurately prepared, adequately disclosed, and strictly implemented in compliance with (enerally "ccepted "ccounting 1rinciples (""1 . 2. $POTJTUFOUMZ TVQFSWJTF UIF $PNQBOZÄ´T FGĹłDJFOU JOUFSOBM DPOUSPM TZTUFNT BOE JOUFSOBM BVEJUT. The $ompany asked that the Internal "udit 0fĹłce conduct internal control audits on a quarterly basis and directly report its audit results to the "udit $ommittee. "ll of the "udit $ommitteeâ&#x20AC;&#x2122;s remarks will be perused and taken for further efĹłciency and productivity improvement on the internal control. In 200 , the internal audits additionally investigated the preventive measure against internal fraudulence. The 200 internal audits have shown that the $ompany possesses the appropriate internal control and management at the satisfactory level. 3. 3FWJFX PG DPOOFDUFE USBOTBDUJPOT. The $ommittee looked into connected transactions with The $ompany and those between business groups to ensure that these were conducted at armâ&#x20AC;&#x2122;s length with complete and adequate information disclosure. 4. &OTVSJOH UIF *NQMFNFOUBUJPO PG (PPE $PSQPSBUF (PWFSOBODF The "udit $ommittee has its role to monitor the $ompany be in compliance with the Securities and the Stock &xchange -aw, other relevant laws and regulations, particularly with regard to transactions and transactions that may have a conĹ´ict of interest in order to conform to the principles of good corporate governance. In 2011, the "udit $ommittee agreed that the $ompany has complied effectively with the principles of good corporate governance. "s a result, the $ompany received an evaluation on good governance from Thai Institute of Directors I0D as excellent including S&T "wards 2011 for the #est $orporate (overnance 3eport as well as an evaluation result on the quality of the "nnual (eneral Meeting of Shareholders for the year as very satisfactory. 5. 1SVEFOUMZ TFMFDU UIF 2012 FYUFSOBM BVEJUPS by perusing the scope of service, remuneration, as well as S&$ announcement pertaining to stipulations on auditor and others. The "udit $ommittee has submitted its resolution to the #oard of Directors. In such resolution, the #oard is requested to ask the shareholdersâ&#x20AC;&#x2122; meeting to ofĹłcially approve Mr. ,aKornkiat "roonpirodkul and or Mr. $harnchai $haiprasit from 1ricewaterhouse$ooper "#"S -imited 18$ to be the $ompanyâ&#x20AC;&#x2122;s 2013 external auditor. The "udit $ommittee considers that the $ompanyâ&#x20AC;&#x2122; management accords vital importance on the business operation under the good corporate governance and efĹłcient internal control.

197

The Board of Directors’ Responsibilities in Respect of the Financial StatementsTo Shareholders, The #oard of Directors is responsible for the separate ųnancial statements of the Master "d 1ublic $ompany -imited and the overall ųnancial statements of the $ompany together with its subsidiaries including information which appears in this annual report. The aforementioned ųnancial statements have been prepared in accord with (enerally "ccepted "ccounting 1rinciples by deploying accounting policies which is appropriate and have been consistently adopted by the $ompany. Important information has been adequately disclosed in the notes supplemented to the ųnancial statements for the beneųts of the shareholders and general investors in a transparent manner. To accomplish this task, the #oard of Directors has appointed the "udit $ommittee to verify the accounting policy and the quality of quarterly ųnancial statements before submitting for the #oard’s acknowledgement. The "udit $ommittee’s comments on these issues are included in the "udit $ommittee’s 3eport shown in this "nnual 3eport. Speciųcally, the "udit $ommittee remarks on both the $ompany’s and its subsidiaries’ ųnancial statements in the "udit $ommittee’s 3eport that the $ompany’s ųnancial status, performance results and cash Ŵow are deemed substantially accurate in accord with the (enerally "ccepted "ccounting 1rinciples. #ased upon such supervision and practices, the #oard of Directors believe that the overall ųnancial statements and the $ompany’s separate ųnancial statements prepared for the year ended December 31, 2011, have shown accurate, reliable ųnancial status, performance results, and cash Ŵow conforming to the (enerally "ccepted "ccounting 1rinciples and the related laws, regulations and announcements.

1ol.Sub.-t. ,riengsak -ohachala $hairman of the #oard of Directors

Mr. /oppadon Tansalarak $hairman of the &xecutive $ommittee $hief &xecutive 0fųce

198

Report of Independent Auditor 5P UIF 4IBSFIPMEFST PG .BTUFS "E 1VCMJD $PNQBOZ -JNJUFE I have audited the accompanying consolidated ųnancial statements of Master "d 1ublic $ompany -imited, its subsidiaries and Koint venture comprising of the consolidated statement of ųnancial position as at 31 December 2012, and the related consolidated statements of comprehensive income, changes in shareholders’ equity and cash Ŵows for the year then ended including notes disclosure summarizing signiųcant accounting policies and others. I have also audited the separate ųnancial statements of Master "d 1ublic $ompany -imited comprising of the separate statement of ųnancial position as at 31 December 2012, and the related separate statements of comprehensive income, changes in shareholders’ equity and cash Ŵows for the years then ended including notes disclosure summarizing signiųcant accounting policies and others. .BOBHFNFOUĴT SFTQPOTJCJMJUZ GPS UIF ųOBODJBM TUBUFNFOUT The $ompany’s management is responsible for the preparation and the fair presentation of these ųnancial statements in accordance with Thai Financial 3eporting Standards. This responsibility includes the establishment of necessary internal controls relevant to the preparation of ųnancial statements that are free from material misstatement, whether due to fraud or error. "VEJUPSĴT SFTQPOTJCJMJUZ My responsibility is to express an opinion on these ųnancial statements based on my audit. I conducted my audit in accordance with Thai Standards on "uditing. Those standards require that I perform the audit under ethical requirements which include planning and performing procedures to obtain reasonable, but not absolute, assurance whether the ųnancial statements are free from material misstatement. "n audit involves performing procedures to obtain audit evidences for the amounts and disclosures in the ųnancial statements. The selected audit procedures depend on the auditor’s assessment of the risks of material misstatement of the ųnancial statements, whether due to fraud or error. "s part of risk assessments, the auditor considers internal control relevant to the entity’s preparation and presentation of the ųnancial statements as a basis for designing audit procedures that are appropriate in the circumstances, but not for the purpose of expressing an opinion on the effectiveness of the entity’s internal control. "n audit also includes evaluating the appropriateness of accounting policies used and the reasonableness of accounting estimates made by management, as well as evaluating the overall ųnancial statement presentation and disclosure. I believe that the audit evidences that I have obtained are sufųcient and appropriate to provide a reasonable basis for my opinion on the ųnancial statements.

199

0QJOJPO In my opinion, the ųnancial statements referred to above present fairly, in all material respects, the consolidated ųnancial position as at 31 December 2012 and the consolidated results of operations and cash Ŵows for the year then ended of Master "d 1ublic $ompany -imited, its subsidiaries and Koint venture, and the separate ųnancial position as at 31 December 2012 and its results of operations and cash Ŵows for the year then ended of Master "d 1ublic $ompany -imited in accordance with Thai Financial 3eporting Standards. &NQIBTJT NBUUFS The $ompany reclassiųed goodwill and discount from the increment of investment in subsidiary for proper presentation of ųnancial position in the consolidated ųnancial statements as discussed in /ote 35 to the ųnancial statements. The reclassiųcation affected the increases of the assets and equity by #aht 13.04 million in the consolidated statements of ųnancial position as at 31 December 2011 and 2010, presented herewith for comparative purpose, with no effect on net income and earnings per share for the year 2011 and 2010. I have veriųed such reclassiųcation and noted that they were properly made. $PNQBSBUJWF ųOBODJBM TUBUFNFOUT The consolidated ųnancial statements of Master "d 1ublic $ompany -imited and its subsidiaries and the separate ųnancial statements of Master "d 1ublic $ompany -imited for the year ended 31 December 2011 and 2010 were audited by Mr. Somckid Tiatragul, an auditor in the same ofųce as mine, who expressed an unqualiųed opinion thereon on his report dated 22 February 2012, with an emphasis on the adoption of the new and amended accounting and ųnancial reporting standards. The restated consolidated, as discussed in /ote 35 to the ųnancial statements, and the separate statements of ųnancial position as at 31 December 2011 and 2010, presented for comparative purpose, are an integral part of such audited ųnancial statements.

.ST. 4VNBMFF $IPLEFFBOBOU $ertiųed 1ublic "ccountant 3egistration /o. 3322 #angkok, Thailand 8 February 2013

200 Master ad public company limited, its subsidiaries and joint venture

Statements of ďŹ nancial position As at 31 december 2012 and 2011 6nit #aht

Consolidated F/S Note

2012

2011

2010

Separate F/S 2012

2011

(Restated) (Restated)

"44&54 $633&/5 "44&54

$ash and cash equivalents Temporary investments Trade accounts receivable general customers net related companies 0ther receivables related companies Share subscription receivable of subsidiary related $ompanies Inventories 1repaid expenses 1repaid expenses related companies -oans to related company Dividend income receivable 0ther current assets net

[5] [6]

232,502,451 220,033,621 218,101,777 177,824,733 155, 86,656 6 ,130, 63 38,437, 2 37,64 ,80 6 ,130, 63 36,320,60

[7] [7,8] [8]

155,47 ,874 133,865,221 127,416,183 101,606,863 7,536 486,255 516,207 6,712 3,743 201, 3,103,413

[ ] [8] [8] [8] [10]

5PUBM $VSSFOU "TTFUT

86,4 4,070 855,454 1,54 ,025

2,450,010 8,372,027 7,18 , 03 3,5 2,216 5,863, 55 4,631,812 5,470,380 5,683,083 7,113,423 4,424, 7 4,313,003 846,552 4 5,000 4 5,000 4 5,000 4 5,000 4 5,000 53, , 46 34,275,24 38,323,70 18,252,146 22, 13,371 23,684,55 506,766,744 444,608,527 415,272,563 43 ,87 ,430 314,330,188

/0/ $633&/5 "44&54

Investments subsidiaries associated companies net 3estricted deposits with banks #uildings and equipment net $omputer software net &quipment held for usage Investment property Tri vision equipment held for usage net 1repaid right for billboards installation net (oodwill 0ther non current assets net

5PUBM /PO $VSSFOU "TTFUT 505"- "44&54

[11] [11] [12] [13] [14] [15] [16] [17] [18] [35] [1 ]

81,0 8,668 81,0 8,668 34,626,145 32,535,3 1 2 ,222,754 21,47 ,475 21,47 ,475 6,452,05 5,651,377 5,651,377 2,452,05 2,441,377 75,588,168 87,22 , 81 26,150,531 7,8 ,110 20,421,813 2,228,707 3,841,411 2,768,202 2,182,383 3,768,506 12,536,053 25,61 ,02 26,38 , 35 13,211,556 26,21 , 61 35,316,836 35,316,836 35,316,836 35,316,836 35,316,836 17,6 7,045 20,413,761 20,413,761 20,482,6 7 18,731,65 1 ,114,6 3 13,040,727 13,040,727 13,040,727 21,135,247 33,6 5,856 40,374,830 16,146,036 18,387,251 23 ,103,684 276,076,028 218,443,646 17 ,786,123 20 ,133,887 745,870,428 720,684,555 633,716,209 619,665,553 523,464,075

The accompanying notes form an integral part of these Ĺłnancial statements.

201 Master ad public company limited, its subsidiaries and joint venture

Statements of ďŹ nancial position As at 31 december 2012 and 2011 6nit #aht

Consolidated F/S Note

2012

2011

Separate F/S

2010

2012

2011

(Restated) (Restated)

-*"#*-*5*&4 "/% 4)"3&)0-%&34Ä´ &26*5: $633&/5 -*"#*-*5*&4

Trade accounts payable general suppliers related companies Income received in advance general customers related company 0ther payables related companies "ccounts payable purchase of assets Short term loan from related company $urrent portion of hire purchase agreement payable "ccrued income tax "ccrued expenses 6ndue output V"T "ccrued dividends 0ther current liabilities

[34] [8] [8] [8] [8]

5, 01, 23 10, 1 ,137 283,403 26 ,81 2,813,237 26,020, 15 2,000,000 135,672 13,505,7 1 35,320, 35 12, 22,772 66,44 4,471,830 136,580,880

4,5 8,205 313,753

5,815,428 10,544,208 287, 33 575,867 323,357 2 3,423 4,206,300

24,763,670 28,085,58 10,841,461 74,45 7,342,237 185,0 2,751

14,213,027 8,123,030 17, 35,6 3 14,048,1 5 20,440,831 17,835,070 ,722,585 8,105,634 6,442,75 31,2 4,853 66,44 74,45 3,070,673 3,052,268 6,532, 40 136,755, 5 8 ,075,337 123,060, 70

Hire purchase agreement payable net [21] 266,4 8 3eserve for employee beneĹłts obligation [8, 22] 10,670,351 ,721,630 0ther non current liabilities 3,488,437 2,062,337 5PUBM /PO $VSSFOU -JBCJMJUZ 14,425,286 11,783, 67

,322,620 8,372,816 550,777 2,544,107 1,88 ,845 550,777 11,866,727 10,262,661

5PUBM $VSSFOU -JBCJMJUJFT

[21]

53,87 ,1 0 68,70 ,60 55,23 , 13 35,637,251 4 ,500,88 5,27 ,678 8,065,855 4,254,755 7,223,156 ,11 ,362

/0/ $633&/5 -*"#*-*5:

505"- -*"#*-*5*&4

151,006,166 196,876,718 137,306,736 100,942,064 133,323,631

The accompanying notes form an integral part of these Ĺłnancial statements.

202 Master ad public company limited, its subsidiaries and joint venture

Statements of ďŹ nancial position As at 31 december 2012 and 2011 6nit #aht

Consolidated F/S Note

2012

2011

2010

Separate F/S 2012

2011

(Restated) (Restated)

-*"#*-*5*&4 "/% 4)"3&)0-%&34Ä´ &26*5: $POUJOVFE

4)"3&)0-%&34Ä´ &26*5:

Share capital common share at #aht 1 par value 3egistered 175,000,000 shares :ear 2011 125,000,000 shares [23] Issued and paid up 174, ,563 shares :ear 2011 125,000,000 shares

$ommon share premium 3etained earnings "ppropriated for legal reserve [25] 6nappropriated [22, 24] 0ther components of equity [35]

175,000,000 125,000,000 125,000,000 175,000,000 125,000,000 174, ,563 125,000,000 125,000,000 174, ,563 125,000,000 167,084,833 167,084,833 167,084,833 167,084,833 167,084,833

T0T"- SH"3&H0-D&3Sâ&#x20AC;&#x2122; &26IT:

17,500,000 210,38 ,740 23,844,158 5 3,818,2 4 1,045, 68 5 4,864,262

T0T"- -I"#I-ITI&S "/D SH"3&H0-D&3Sâ&#x20AC;&#x2122; &26IT:

745,870,428 720,684,555 633,716,20 61 ,665,553 523,464,075

4IBSFIPMEFSTÄ´ &RVJUZ PG UIF $PNQBOZ /on controlling interestsâ&#x20AC;&#x2122; equity

12,500,000 1 4,625,164 23,107,008 522,317,005 1,4 0,832 523,807,837

The accompanying notes form an integral part of these Ĺłnancial statements.

12,500,000 167,444,165 22,318,610 4 4,347,608 2,061,865 4 6,40 ,473

17,500,000 157,053,273 2,085,820 518,723,48 518,723,48

12,500,000 84,280,145 1,275,466 3 0,140,444 3 0,140,444

203 Master ad public company limited, its subsidiaries and joint venture

Statements of comprehensive income For the years ended 31 december 2012 and 2011 6nit #aht

Consolidated F/S Note

Services income and sales $osts of services and sales (SPTT QSPĹłU $ommission income Interest income Dividend income 0ther income Selling expenses "dministrative expenses -oss from impairment of investment in associated company Financial cost &quity in net proĹłt of associated companies net /FU JODPNF CFGPSF JODPNF UBY Income tax /FU JODPNF GPS UIF ZFBS

2012

2011

Separate F/S 2012

2011

[8, 26] 732,3 0,667 635,533,6 2 503,027,447 460,508,681 [8, 28] 37 ,515,5 7 306,502, 60 267,508,3 5 241,608,827

352,875,070 32 ,030,732 235,51 ,052 218,8 ,854 [8] 8,782, 42 8,363, 47 3,705,014 2,341,370 3,053,060 1,670,225 [8] 105,3 ,88 2 , [8, 27] 13,611,127 6,530,231 15,160,336 10,324,466 [8, 28] 63,675, 4 74,174,388 48,021,075 45,780,655

[8, 28] 128,5 4,055 120,8 1,0 2 5,535,223 83,515,74

[11, 28] [8] [11]

121,701

625,28

3,4 0,644 180,786,562 41,717,758

13 ,068,804

385,784

1,112,421 143,563,4 0 46,145,5 2

7,417,8 8

314,656

224,044,325 27,522,155

1 6,522,170

341,85

10 ,7 8,527 31,250,684

78,547,843

[6]

810,457

788,3 8

810,354

744,765

[6]

73,307

[2 ]

05)&3 $0.13&)&/4*7& */$0.&

6nrealized gain on revaluation of available for sale investments 3ealized gain from sale of available for sale investments

737,150 13 ,805, 54

788,3 8 8,206,2 6

810,354 1 7,332,524

744,765 7 ,2 2,608

13 ,513,618 444,814

13 ,068,804

7, 88, 31 571,033

7,417,8 8

1 6,522,170 1 6,522,170

78,547,843 78,547,843

140,250,768 444,814

13 ,805, 54

8,777,32 571,033

8,206,2 6

1 7,332,524 1 7,332,524

7 ,2 2,608 7 ,2 2,608

/et income attributable to the $ompany per share #aht

0.80 8eighted average number of common shares shares

[3.20] 174, ,563

0.56

1.12

0.45

174, ,563

0UIFS DPNQSFIFOTJWF JODPNF GPS UIF ZFBS 505"- $0.13&)&/4*7& */$0.& '03 5)& :&"3 "--0$"5*0/ 0' /&5 */$0.& -044

1ortion of the $ompany /on controlling interests

/FU JODPNF GPS UIF ZFBS

"--0$"5*0/ 0' 505"- $0.13&)&/4*7& */$0.& -044

1ortion of the $ompany /on controlling interests

5PUBM DPNQSFIFOTJWF JODPNF GPS UIF ZFBS #"4*$ &"3/*/(4 1&3 4)"3&

The accompanying notes form an integral part of these Ĺłnancial statements.

[6] [6] [23] [25] [24] [24]

[6] [24]

[22]

[35]

-FHBM SFTFSWF

125,000,000 167,084,833 12,500,000 125,000,000 167,084,833 12,500,000 4 , ,563 5,000,000 174, ,563 167,084,833 17,500,000

125,000,000 167,084,833 12,500,000

4IBSF QSFNJVN

530,701

8,308,432

15 ,135,733 21,757,648 530,701 744,765 62,4 ,500

7, 88, 31 1 4,625,164 21,757,648 1,275,466 810,354 5,000,000

68,74 ,442

4 , ,600

13 ,513,618 210,38 ,740 21,757,648 2,085,820

167,444,165 8,716, 21 13,040,727

2 ,88 43,418 73,307 73,307

2 ,88

372 22,318,610 215 788,3 8 587 23,107,008 103 810,457 73,307

6 0 23,844,158

372 ,277,883 13,040,727

8,308,432

486,03 ,176 2,061,865 488,101,041 788,3 8 788,3 8 62,4 ,500

62,4 ,500

7, 88, 31 571,033 7,417,8 8 522,317,005 1,4 0,832 523,807,837 810,457 810,457 73,307

73,307

4 , ,563 4 , ,563 68,74 ,442 50

68,74 ,4 2

4 , ,600

13 ,513,618 444,814 13 ,068,804 5 3,818,2 4 1,045, 68 5 4,864,262

481,306,881 2,061,865 483,368,746 13,040,727 13,040,727

5PUBM

6nit #aht

available-for-sale %JTDPVOU PO securities JODSFNFOU PG 5PUBM 5PUBM PUIFS JOWFTUNFOU /PO PG UIF DPNQPOFOUT 4IBSFIPMEFSTÄ´ PG UIF JO TVCTJEJBSZ PG UIF TVCTJEJBSZ BTTPDJBUFE FRVJUZ PG DPOUSPMMJOH PG UIF $PNQBOZ JOUFSFTUT FRVJUZ 6OBQQSPQSJBUFE 3FTUBUFE $PNQBOZ DPNQBOZ DPNQBOZ

Other components of equity Unrealized gain on

Shareholdersâ&#x20AC;&#x2122; Equity of the Company

Retained earnings

The accompanying notes form an integral part of these Ĺłnancial statements.

#BMBODF BT BU 1 +BOVBSZ 2011 BT QSFWJPVTMZ SFQPSUFE 3eclassify (oodwill to assets &ffect of change in accounting policy for employee past service beneĹłts obligation "EKVTUFE CBMBODF BT BU 1 +BOVBSZ 2011 6nrealized gain on available for sale securities Dividend payment /et income loss for the year #BMBODF BT BU 31 %FDFNCFS 2011 6nrealized gain on available for sale securities 3ealized gain from sale of available for sale investments $apital increased from stock dividend "ppropriation for legal reserve Dividend payment Stock dividend /et income loss for the year #BMBODF BT BU 31 %FDFNCFS 2012

$0/40-*%"5&% '/4

/PUFT

1BJE VQ TIBSF DBQJUBM

For the years ended 31 december 2012 and 2011

Statements of changes in shareholdersâ&#x20AC;&#x2122; equity

Master ad public company limited, its subsidiaries and joint venture

204

[6] [6] [25] [24] [24]

[6] [24]

[22]

125,000,000 125,000,000 4 , ,563 174, ,563

125,000,000

capital

The accompanying notes form an integral part of these Ĺłnancial statements.

#BMBODF BT BU 1 +BOVBSZ 2011 BT QSFWJPVTMZ SFQPSUFE &ffect of change in accounting policy for employee past service beneĹłts obligation "EKVTUFE CBMBODF BT BU 1 +BOVBSZ 2011 6nrealized gain on available for sale securities Dividend payment /et income for the year #BMBODF BT BU 31 %FDFNCFS 2011 6nrealized gain on available for sale securities $apital increased from stock dividend "ppropriation for legal reserve Dividend payment Stock dividend /et income for the year #BMBODF BT BU 31 %FDFNCFS 2012

4&1"3"5& '/4

Notes

167,084,833 167,084,833 167,084,833

167,084,833

premium

12,500,000 12,500,000 5,000,000 17,500,000

12,500,000

reserve

7,18 ,866

68,231,802 62,4 ,500

78,547,843 84,280,145 5,000,000

68,74 ,442

4 , ,600

1 6,522,170 157,053,273

75,421,668

Unappropriated

530,701 530,701 744,765 1,275,466 810,354 2,085,820

securities

available-for-sale

Legal

Unrealized gain on

Retained earnings

Other components of equity

Paid - up

For the years ended 31 december 2012 and 2011

Statements of changes in shareholdersâ&#x20AC;&#x2122; equity

Master ad public company limited, its subsidiaries and joint venture

7,18 ,866

373,347,336 744,765 62,4 ,500

78,547,843 3 0,140,444 810,354 4 , ,563 68,74 ,442

4 , ,600

1 6,522,170 518,723,48

380,537,202

Total

6nit #aht

205

206 Master ad public company limited, its subsidiaries and joint venture

Statements of cash ďŹ&#x201A;ows For the years ended 31 december 2012 and 2011 6nit #aht

Consolidated F/S 2012

$BTI Ĺ´PXT GSPN PQFSBUJOH BDUJWJUJFT : 180,786,562 Income before income tax "EKVTUNFOUT UP SFDPODJMF JODPNF CFGPSF JODPNF UBY UP OFU DBTI QSPWJEFE GSPN VTFE JO PQFSBUJOH BDUJWJUJFT : Depreciation and amortization 16,818,757 -oss from impairment of tri vision equipment held for usage 2,276,717 -oss gain on sale of equipment 377,12

&quipment and computer software written off 32,176 &quity in net gain of associated companies 3,4 0,644

(ain on sale of temporary investments 1,882

3eversal of long outstanding liabilities 2,70 ,312

Dividend income "llowance for doubtful debt and bad debt net bad debt recovery 1,722,258

"mortization of prepaid right for billboards installation 3,163,3 3 "mortization of deferred consulting fee ,418,356 "mortization of deferred billboard proKect expenses 27,384 -oss from impairment of investment in associated company 1rovision for employee beneĹłts obligation 1,11 ,584 Interest expense 625,28 $BTI QSPWJEFE GSPN PQFSBUJOH BDUJWJUJFT CFGPSF DIBOHFT JO PQFSBUJOH BTTFUT BOE MJBCJMJUJFT 206,776, 3 $IBOHFT JO PQFSBUJOH BTTFUT BOE MJBCJMJUJFT : %FDSFBTF JODSFBTF JO PQFSBUJOH BTTFUT : Trade accounts receivable 1 ,077,776

0ther receivables Äą related companies 2, 6

Inventories 2,145,306 1repaid expenses 633,84

0ther current assets 2,588,008 &quipment held for usage 13,082, 76 Tri vision equipment held for usage 43 , 3, 0 ,523

1repaid right for billboards installation 0ther non current assets 2,634,86 *ODSFBTF EFDSFBTF JO PQFSBUJOH MJBCJMJUJFT : Trade accounts payable 11,5 4,886

Income received in advance 3,653,775

0ther payables related companies 13,584 "ccrued expenses 7,366,61 6ndue output V"T 2,081,311 0ther current liabilities 2,870,407

3eserve for employee beneĹłts obligation 531, 00

0ther non current liabilities 1,426,100 $BTI QSPWJEFE GSPN PQFSBUJOH BDUJWJUJFT 1 6,280,680 Interest paid 253,512

Income tax paid 53,365, 3

/FU DBTI QSPWJEFE GSPN PQFSBUJOH BDUJWJUJFT 142,661,175

Separate F/S

2011

2012

2011

143,563,4 0

224,044,325

10 ,7 8,527

15,716,034 173, 0

532,233 1,112,421

15,068,850 2,178,62 5,207,000 27,384 1,086,732 385,784

7,118,107 10,511 32,175 2,472,226

105,3 ,88

2 7,126

33,563 314,656

10,7 4,613 762,648 366,66 2 ,

510,846 121,701 00,40 341,85

183,37 ,725

124,284,0 6

123,2 7,273

22,004,143

108,256 3,5 7,687

1,430,340 16,8 3,36

774,325 4, 58, 8

544,5 0

14,446,420

1,554,388

2,0 5,287 111, 76

321,188 13,008,405 2,661,215

20,222,671

431,135 3,44 ,414

1,257,853 , 38,768

8 2,255 1,14 ,545

17,280,7 6 6,320, 32 43, 34

14,037,3 4 1,118,876 4,271,564 1,511,560 183,280,236 5 ,318

35,60 ,74

147,611,16

,843, 47

3,653,275

2 , 34 2,605,761 1,662,875 3,480,672

2 8,400

654,262 113, 33, 45 15

37,334,818

76,5 ,112

1 ,805,152 6,881,7 142,486 6,867, 13 888,821 4,478,630 755,561 133,237,570 5 ,318

18,158,38

115,01 ,863

The accompanying notes form an integral part of these Ĺłnancial statements.

207 Master ad public company limited, its subsidiaries and joint venture

Statements of cash ďŹ&#x201A;ows For the years ended 31 december 2012 and 2011 6nit #aht

Consolidated F/S 2012

2011

Separate F/S 2012

2011

$BTI Ĺ´PXT GSPN JOWFTUJOH BDUJWJUJFT :

"cquisition of temporary investments 32,000,000

32,000,000

1roceeds from sales of temporary investments 2,135, 58 $ollection of loans repayment from related company 800,682

10,682

"dditional investments in subsidiary and associated companies 2,500,000

5,04 , 0

1roceeds from sales of equipment 502,506 42,322 114,860 5,677 "cquisition of equipment and computer software 8,464,304 53,151,762 1,301,367 12,186,563

Dividend received from subsidiary and associated companies 1,3 , 3 2 , 51,3 , 43 2 , /FU DBTI QSPWJEFE GSPN VTFE JO JOWFTUJOH BDUJWJUJFT 37,226,52 54,40 ,441 18,202,754 16, 30,877

$BTI Ĺ´PXT GSPN ĹłOBODJOH BDUJWJUJFT :

Increase in short term loan from related company $ash payment for accounts payable purchase of assets $ash payment for hire purchase agreement payable $ash receipt from share capital of subsidiary Dividend payments to non controlling interests Dividend payments

/FU DBTI VTFE JO ĹłOBODJOH BDUJWJUJFT

2,000,000 26,020, 15

4,206,300

187,362

2,450,010 50

68,757,48 3,71 ,8 4 68,757,48 3,71 ,8 4

2, 65,816 1,26 ,884 72, 63,78 3,71 ,8 4

/FU JODSFBTF JO DBTI BOE DBTI FRVJWBMFOUT $BTI BOE DBTI FRVJWBMFOUT CFHJOOJOH PG UIF ZFBS $BTI BOE DBTI FRVJWBMFOUT FOE PG UIF ZFBS

12,468,830 1, 31,844 21,838,077 4,36 ,0 2 220,033,621 218,101,777 155, 86,656 151,617,564 232,502,451 220,033,621 177,824,733 155, 86,656

"EEJUJPOBM JOGPSNBUJPO /PO DBTI USBOTBDUJPOT

1. 3ecognized reserve for employee beneĹłts obligation as at 1 +anuary 2011 by adKusting the past service cost with retained earnings 2. 3ecognized increase decrease in fair value of temporary investments by recording in shareholdersâ&#x20AC;&#x2122; equity The $ompany and subsidiary 810,354 The associated company 103 3. 3ecognition of realized gain from sale of temporary investments 73,307

4. 3eclassify equipment to inventories and equipment held for usage 3,327,430 5. Issuing stock dividend 4 , ,600 6. "ccrued stock dividend 37 7. 8rite off bad debt during the year 22,452 8. "cquiring assets which have not been paid 2,813,237 . "cquiring assets under hire purchase agreement 578,7 2

8,308,432 788,183 215

810,354

7,18 ,866 744,765

3,420 26,020, 15

3,327,430 4 , ,600 37 22,452

3,41 4,206,300

The accompanying notes form an integral part of these Ĺłnancial statements.

208 Master ad public company limited, its subsidiaries and joint venture

Note to ďŹ nancial statements As at 31 december 2012 and 2011

1. (&/&3"- */'03."5*0/ Master "d 1ublic $ompany -imited was registered with the Ministry of $ommerce as a limited company on 18 February 1 88 and listed in the M"I under Stock &xchange of Thailand in 2003. The $ompany is engaged in advertising, leasing of property and purchases sales of electricity billboard and holding investments in subsidiary and associated companies. The $ompanyâ&#x20AC;&#x2122;s registered head ofĹłce is located at 4th 6th Floor, 1 Soi -at 1hrao 1 , -at 1hrao 3oad, $homphon, #angkok, Thailand. "s at 31 December 2012 and 2011, the $ompany has maKor shareholders as follows Percentage of Shareholding Name

Mr. /oppadon Tansalarak Mr. 1hiched Maneerattanaporn D $orp (roup -imited Miss :anisa Tansalarak Mr. Tanpong Tansalarak Mr. Vichit Dilokvilas

2012

2011

7.34 12.74 10.00 6.40 6.40 5.68

13.6 12.74 10.00 6.40 5. 2

2. #"4*4 0' '*/"/$*"- 45"5&.&/5 13&1"3"5*0/ "/% 13*/$*1-&4 0' $0/40-*%"5*0/ 2.1 #asis of Ĺłnancial statement preparation The accompanying Ĺłnancial statements have been prepared in accordance with the generally accepted accounting principles issued under the "ccounting "ct #.&. 2543, and accounting standards issued under "ccounting 1rofession "ct #.&. 2547, and the regulations promulgated by the Securities and &xchange $ommission and the Securities &xchange of Thailand concerning the preparation and the disclosure of Ĺłnancial information, under the Securities and &xchange "ct #.&. 2535. The Ĺłnancial statements have been prepared on a historical cost basis except as, otherwise, disclosed speciĹłcally. The Ĺłnancial statements are ofĹłcially prepared in Thai language in accordance with statutory requirement with accounting standards enumerated under the "ccounting 1rofession "ct #.&. 2547. The translation of these statutory Ĺłnancial statements to other language must be based on the Thai Ĺłnancial report.

209 During the years 2012 and 2011, the Federation of "ccounting 1rofessions has announced the new and amendments to some accounting standards and Ĺłnancial reporting standards, which are effective for the accounting periods beginning on or after 1 +anuary 2011 and 1 +anuary 2013. The $ompany has applied those standards which are effective for the accounting periods beginning on or after 1 +anuary 2011 in this Ĺłnancial statements. However, effective 1 +anuary 2013, the $ompany has to apply Thai "ccounting Standard /o. 12 ÄśIncome TaxesÄˇ which impact the Ĺłnancial statements for the year 2013 by increasing assets and net income from recording deferred income tax assets. The $ompany has to restate the Ĺłnancial statements for the year 2012 for comparison with the Ĺłnancial statements for the year 2013 as follow 6nit Million #aht

Consolidated F/S

Separate F/S

.77 .77

7.02 7.02

0.75

0.06

4UBUFNFOU PG ĹłOBODJBM QPTJUJPO BT BU 31 %FDFNCFS 2012

"ssets Deferred income tax assets 3etained earnings

Increase Increase

4UBUFNFOU PG DPNQSFIFOTJWF JODPNF GPS UIF ZFBS FOEFE 31 %FDFNCFS 2012

Income Tax Increase decrease deferred income tax Increase expenses

&arnings per share

Increase

2.2 1rinciple of consolidation The consolidated Ĺłnancial statements have been prepared under the accounting standard /o. 27 Äś$onsolidated and Separate Financial StatementsÄˇ which comprise the Ĺłnancial statements of Master "d 1ublic $ompany -imited and subsidiaries and +oint Venture in which Master "d 1ublic $ompany -imited has investments as follows Percentage of Shareholding 2012

2011

Type of businesses

Subsidiary companies Master and More $o., -td.

Companies

100.00

M"$0 3ite Sign $o., -td. (reen "d $o., -td.

80.00 51.00

+oint venture I/D&9 D103 M"$0 +oint venture

1roduce and providing outdoor advertising media services 1roduce and sell of tri vision equipment 1roviding advertising services through the supply of tree wall panel

20.00

1roposing design and management in :eosu International &xposition 2012

210 "s at 31 December 2012 and 2011, the total assets of subsidiaries and +oint Venture represent 32.24 percent and 36.44 percent, respectively, of the total assets in the consolidated statements of Ĺłnancial position, and total revenues of subsidiaries and +oint Venture for the year ended 31 December 2012 and 2011 represent 31.56 percent and 28.06 percent, respectively, of the total revenues in the consolidated statements of comprehensive income. "s at 10 +une 2011, Index $reative Village 1ublic $ompany -imited, Design 103 International $o., -td., Design 103 $o., -td. and the $ompany, entered into +oint Venture agreement under the name of ÄśI/D&9 D103 M"$0 +oint VentureÄˇ, which is established to propose design, execution and management of presentation in ,orea &xposition. The $ompanyâ&#x20AC;&#x2122;s portion in Koint venture is 20 . The consolidated Ĺłnancial statements included such +oint Ventureâ&#x20AC;&#x2122;s Ĺłnancial statements proportionately for the Ĺłrst time in 2012. The consolidated Ĺłnancial statements as at 31 December 2012 included the proportion of the assets, liabilities, revenues and expenses of the Koint venture, the balances of which are as follows Thousand Baht

Consolidated F/S As at 31 December 2012

$urrent assets $urrent liabilities 3evenues &xpenses

2,403 2,032 For the year ended 31 December 2012 43,786 43,43

2.3 SigniĹłcant inter company transactions with subsidiaries and Koint venture included in the consolidated Ĺłnancial statements have been eliminated. 2.4 The consolidated Ĺłnancial statements have been prepared with the same accounting policies as for the separate Ĺłnancial statements for the same accounting transactions or accounting events. 3. 4JHOJĹłDBOU "DDPVOUJOH 1PMJDJFT The principal accounting policies adopted in the preparation of these consolidated and the separate Ĺłnancial statements are set out below 3.1 $ash and cash equivalents $ash and cash equivalents represent cash on hand, deposits with Ĺłnancial institutions with maturities of less than three months, and short term highly liquid investments with original maturities of three months or less, without restriction of usage or obligation.

211 3.2 Investment in available for sale security Investments intended to be held for an indeĹłnite period of time, which may be sold in response to liquidity needs or changes in interest rates, are classiĹłed as available for sale and are included in non Äą current assets unless management has expressed the intention of holding the investment for less than twelve months from the Ĺłnancial statement date or unless they will need to be sold to raise working capital, which are classiĹłed as current assets. 1urchases and sales of investments are recognized on the trade date, which is the date that the $ompany commits to purchase or sell the investments. $ost of investment includes transaction costs and the unit cost is determined by average method. "t the end of year, the $ompany and its subsidiaries recognized the changes in fair value of the investments as part of other comprehensive income. 3.3 Trade accounts receivable Trade accounts receivable are carried at anticipated realizable value. #ad debts are written off during the year in which they are identiĹłed. 3.4 Inventories Inventories are stated at the lower of cost or net realizable value. $ost is determined on the Ĺłrst in, Ĺłrst out basis. /et realizable value is the estimated selling price in the ordinary course of business less the estimated costs necessary to make the sale. 1rovision is made, where necessary, for possible loss on decline value of slow moving and defective inventories. 3.5 Investments in subsidiary and associated companies Investments in associated companies are accounted for in the consolidated Ĺłnancial statements by the equity method of accounting. Investment in subsidiary and associated companies are accounted for in the separate Ĺłnancial statements by the cost method of accounting. 1rovisions for impairment are taken up in the accounts to adKust the value of investment when there is an indication of impairment. 3.6 1lant and equipment #uilding and equipment are stated at historical cost less accumulated depreciation. Depreciation is calculated using the straight line method over the estimated useful lives of the related assets as follows

212 #uilding 0fĹłce decorations and equipment Tools and equipment Vehicles #illboards 0thers

20 3 20 5 5 5 3 5

years years years years years years

(ains and losses on disposal of equipments are determined by reference to their carrying amounts and are recognized as part of the statement of comprehensive income. &xpenditures for expansion, renewal and betterment, which result in a substantial increase in an assetâ&#x20AC;&#x2122;s current replacement value, are capitalized. 3epair and maintenance costs are recognized as expenses when incurred. 3.7 $omputer software $omputer softwares are stated at historical cost less accumulated amortization. "mortization is calculated on the straight line method over their estimated useful lives of 5 years. 3.8 &quipment held for usage &quipment held for usage mainly includes steel, tri vision equipment and other equipment which has been used in operations. They are stated at carrying costs at transferred date from building and equipment when they have not been used in operations. The $ompany discontinued calculating depreciation of this asset at the date of transfer and will write them off upon disposal. 3. Investment property The $ompanyâ&#x20AC;&#x2122;s land not used in operations is considered as investment property which is measured initially with its cost, including transaction costs. Moreover, after recognition, it is measured at cost net of allowance for impairment if any . 3.10 Tri vision equipment held for usage Tri vision equipment held for usage is stated at historical cost and presented at amount net of allowance for impairment. Depreciation is calculated when it is installed and ready for use and will be written of upon disposal. 3.11 (oodwill (oodwill represents the excess of the cost of acquisition over the fair value of the net anticipated assets of acquired company. (oodwill is presented in the statement of Ĺłnancial position at cost less impairment loss, if any.

213 3.12 Impairment of assets 1roperty and equipment and other non current assets are reviewed for impairment whenever events or changes in circumstances indicate the recoverable amount of asset less than its carrying amount. "n impairment loss is recognized as an expense in the statement of comprehensive income for asset carried at cost, or treated as a deduction of revaluation increment, in the case that the asset is carried at revalued amount, to the extent that the impairment loss does not exceed the revaluation increment formerly accounted for on the same asset. " reversal of impairment loss is recognized as income or treated as a revaluation increment when there is an indication that the impairment loss recognized for the asset no longer exists or had decreased. Such a reversal should not exceed the carrying amount that would have been determined net of amortization or depreciation had no impairment loss been recognized for the asset in prior years. 3.13 Discount on increment of investment in subsidiary company Discount on increment of investment in subsidiary company occurred from the $ompany paid acquisition cost lower than the fair value of the subsidiaryâ&#x20AC;&#x2122;s net assets book value . Discount on increment of investment in subsidiary company is presented under shareholdersâ&#x20AC;&#x2122; equity and will be reduced if the $ompany disposes or reduces its portion of investment in subsidiary. 3.14 -ong Äą term leases Äą where the $ompany and subsidiaries are the lessee -eases of equipment where the $ompany assumes substantially all the beneĹłts and risks of ownership are classiĹłed as Ĺłnance leases. Finance leases are capitalized at the estimated present value of the underlying lease payments or the present value of the lease payments, whichever is lower. &ach lease payment is allocated between the liability and Ĺłnance charges so as to achieve a constant rate on the outstanding balance. The lease payment obligation under the lease agreement, net of Ĺłnancial interest payment, is recorded as liability under Ĺłnance lease. The interest element of the Ĺłnance charge is charged to operations over the lease period. The equipment acquired under Ĺłnance lease contract is depreciated over the useful life of the asset. -eases of assets under which all risks and beneĹłts of ownership are effectively retained by the lessor are classiĹłed as operating leases. 1ayments made under operating leases are charged to statement of income on a straight Äą line basis over the period of the lease. 8hen an operating lease is terminated before expiry date of the lease period, any payment required to be made to the lessor by way of penalty is recognized as an expense in the period in which termination takes place. 3.15 -ong Äą term leases Äą where the $ompany and subsidiaries are the lessors "ssets leased out under operating leases are included in buildings and equipment in the statement of Ĺłnancial position. They are depreciated over their expected useful lives on a basis consistent with other similar building and equipment owned by the $ompany. 3ental income net of any incentive given to lessee is recognized on a straight Äą line basis over the lease term.

214 3.16 3evenue and expenses recognition Sales are recognized when delivery has taken place and transfer of risks and rewards has been completed. Service income is recognized when service has been rendered and invoiced and the amount of the revenue can be measured. 0ther income and expenses are recognized on an accrual basis. 3.17 Income tax The $ompany, subsidiaries and Koint ventures account for income tax based on the conditions described in the 3evenue $ode. 3.18 3elated companies 3elated parties comprise enterprises and individuals that control, or are controlled by the $ompany, whether directly or indirectly, or which are under common control with the $ompany. They also include associated companies and individuals which directly or indirectly own a voting interest in the $ompany that gives them signiųcant inŴuence over the $ompany, key management personnel, directors and ofųcers with authority in the planning and directing the $ompany’s operations. 3.1 Foreign currency translation Foreign currency transactions during the year are translated into #aht at the exchange rate on transaction date. The balance of foreign currency monetary assets and liabilities at the end of year are translated into #aht at the rates prevailing at that date. &xchange gains or losses are included in the statement of comprehensive income. 3.20 #asic earnings per share The earnings per share is determined by dividing the net income for the year by the weighted average number of shares outstanding during the year. In case of issuing stock dividends, the $ompany will recalculate the number of shares outstanding before issuing stock dividends to the proportionate change in the number of shares outstanding as if the issuing stock dividends have occurred at the beginning of the earliest period reported. During the year 2012, the $ompany issued stock dividends of 50 million shares. "s the results, the $ompany recalculated the weighted average number of shares outstanding for the year 2011 from 125 million shares to 175 million shares. This would make basic earnings per share information be comparable.

215 3.21 1rovident fund The $ompany and subsidiaries have established registered provident fund which are contributed to by employees and by the $ompany and subsidiaries for which assets are held in a separate trusteed funds and managed by fund manager. The $ompany and subsidiaries contributions are charged to the statement of comprehensive income as incurred. 3.22 &mployee +oint Investment 1rogram Äś&+I1Äˇ

The $ompany and subsidiariesâ&#x20AC;&#x2122; contributions to the &+I1 members are charged to the statement of comprehensive income in the year to which they relate. 3.23 1ost Äą employee beneĹłts and other long term beneĹłt of employees The $ompany and subsidiaries recognise the employee beneĹłts obligation for employees retirement in compliance the Thai labour law and other long term beneĹłts for employees which have long service. The deĹłned beneĹłts obligation is measured, using the proKected unit credit method. The employee beneĹłts expenses are recognised in the statement of comprehensive income to allocate the expense throughout the hiring period. "ctuarial gains or losses arising from changes in actuarial assumptions are recognised as other income or expenses in statement of comprehensive income as occurred. 3.24 6se of accounting estimates The preparation of the Ĺłnancial statements in conformity with generally accepted accounting principles requires management to make estimates and assumption that affect the reporting amounts of revenues, expenses, assets, liabilities and disclosure of contingent assets and liabilities. The actual results may differ from those estimates. 3.25 1rovisions for liabilities and expenses, and contingent assets 1rovisions are recognized when the $ompany, its subsidiaries and Koint venture have present legal or constructive obligations as a result of past events with probable outĹ´ow of resources to settle the obligation, and where a reliable estimate of the amount can be made. The contingent asset will be recognized as a separate asset only when the realization is virtually received.

216 4. $3*5*$"- "$$06/5*/( &45*."5&4, "446.15*0/ "/% +6%(&.&/5 "/% $"1*5"- 3*4, ."/"(&.&/5 4.1 $ritical accounting estimates, assumption and Kudgments a. Impairment of receivables and loan The $ompany, its subsidiaries and Koint venture provide allowances for doubtful accounts to reĹéct impairment of trade accounts receivable and loan which customers and borrowers do not have ability to make required payments. The allowances are based on consideration of historical collection experiences couple with a review of outstanding receivables at the end of year. b. "llowance for obsolete, slow moving and defective inventories The $ompany and subsidiaries provide allowances for obsolete, slow moving and defective inventories to reĹéct impairment of inventories. The allowances are based on consideration of inventory turnovers and deterioration of each inventory category. c. 1lant and equipment and computer software Management determines the estimated depreciation and amortization method, useful lives and residual values of plant and equipment and computer software at the end of the year, and revise the depreciation and amortization charges where the depreciation and amortization method, useful lives and residual values previously estimated have changed or subKect to be written down for their obsolescences or if they are no longer in use. d. Impairment of goodwill The $ompany tests annually whether goodwill is impaired. The recoverable amount of cash generating units are determined based on value in use based on the estimation of the management. e. -eases In determining whether a lease is to be classiĹłed as an operating lease or Ĺłnance lease, management is required to use Kudgment whether signiĹłcant risk and rewards of ownership of the leased asset has been transferred to the $ompany, taking into consideration of terms and conditions of the arrangement. f. Impairment of assets The $ompany treats asset as impaired when there has been a signiĹłcant or prolonged decline in the fair value below its cost or where other obKective evidence of impairment exists. The determination of what is ÄśsigniĹłcantÄˇ or ÄśprolongedÄˇ requires management Kudement. g. 1ost Äą employee beneĹłts and other long term beneĹłt of employees The employee beneĹłts obligation for employees retirement in compliance with the Thai labour law and other long term beneĹłts of employees are computed by the "ctuary, using the proKected unit credit method in accordance with "ctuarial Technique for the present value of the estimated future cash outĹóws, based on salary, turnover rate, mortality rate, length of service and others, based on the interest rates on government securities, with similar terms and period of maturity.

217 SigniĹłcant assumptions for the estimation of reserve for employee beneĹłts obligation are as follows Discount rate, based on government bond with term to maturity of 18 years 4.10 Incremental rate of employee beneĹłt 3 /umber of employees 162 persons in the consolidated Ĺłnancial statements 130 persons in the separate Ĺłnancial statements 3etirement age 60 years -ong Service "ward 10, 15 and 20 years, of services are entitled to receive solid gold weighted 1.5 5.0 #aht

4.2 $apital risk management The $ompanyâ&#x20AC;&#x2122;s obKective in the management of capital is to safeguard its ability to continue as a going concern in order to provide returns for shareholders and beneĹłts for other stakeholders, and to maintain an optimal capital structure to reduce the cost of capital. In order to maintain or adKust the capital structure, the $ompany may adKust the amount of dividends for shareholders, return capital, issue new shares or sell assets to reduce debt. 5. $"4) "/% $"4) &26*7"-&/54 6nit #aht

Consolidated F/S 2012

$ash on hand $ash at banks

$urrent accounts Saving accounts Fixed deposit accounts for 3 months Total

2011

Separate F/S 2012

2011

26 ,037

311,128

246,462

300,106

5,203,38 138,355,273 88,674,752 232,502,451

3,263,2 1 108,0 6,68 108,362,513 220,033,621

5,187,501 6,014,701 76,376,06 177,824,733

3,25 ,481 62,753,523 8 ,673,546 155, 86,656

"s at 31 December 2012, the $ompanyâ&#x20AC;&#x2122;s and subsidiariesâ&#x20AC;&#x2122; deposits with banks carry interest at the rates ranging between 0.75 2.10 percent per annum 2011 rates ranging between 0.75 2.10 percent per annum .

218 6. 5&.103"3: */7&45.&/54 6nit #aht

Consolidated F/S

Fixed deposits for 5 Äą 6 months "vailable for sale security at cost "dKustments for changes in value of available for sale securities

1art of the $ompany 1art of subsidiary company "vailable for sale security at fair value

Separate F/S

2012

2011

2012

2011

32,000,000 35,045,143

37,08 ,21

32,000,000 35,045,143

35,045,143

2,085,820 6 ,130, 63

1,275,466 73,307 38,437, 2

2,085,820 6 ,130, 63

1,275,466 36,320,60

"s at 31 December 2012 and 2011, the $ompany and its subsidiaries have investments in an open end Ĺłxed income fund which is held as available for sale securities and presented as part of current assets with fair value. Morever, as at 31 December 2012, the $ompany invested in Ĺłxed deposits with interest at the rates percent per 3.50 annum. During the year, the movements in temporary investments are as follows 6nit #aht

Consolidated F/S

#alance as at 1 +anuary 2012 Fixed deposit for 5 months Fixed deposit for 6 months "dKustments for changes in value of available for sale securities 1roceeds from sales of available for sale securities 3ecognized gain from sale of available for sale securities #alance as at 31 December 2012

Separate F/S

38,437, 2 15,000,000 17,000,000

36,320,60 15,000,000 17,000,000

810,354 2,044,076

810,354

73,307

6 ,130, 63

3elated transaction of temporary investments in the statement of comprehensive income are as follows 6nit #aht

Consolidated F/S 2012

(ains on remeasurement of available for sale investments

737,150

2011

788,3 8

Separate F/S 2012

810,354

2011

744,765

219 7. 53"%& "$$06/54 3&$&*7"#-& "s at 31 December 2012 and 2011, the aged analysis of accounts receivable are as follow 6nit #aht

Consolidated F/S Ages of receivable

Trade accounts receivable Äą general customers /ot yet due 1ast due

-ess than 3 months 3 6 months 6 12 months 0ver 12 months Total -ess "llowance for doubtful accounts Trade accounts receivable general customers net Trade accounts receivable related companies Subsidiary companies /ot yet due 1ast due

-ess than 3 months "ssociated companies /ot yet due

2012

2011

Separate F/S 2012

2011

, 4 ,525 6,572,126 62,1 8,43 58,72 ,125 44,286,1 6, 68,103 2,154,260 37, 24,451 1 1,282,538 35,802,664

155,47 ,874

25,8 4,021 8,030, 51 2,101,14 3 ,240,248 171,838,4 5 37, 73,274

133,865,221

2 ,322,165 6,285,443 1, 44, 68 20,825,761 120,576,776 18, 6 , 13

101,606,863

18,665, 12 6,416,001 1,523,058 20,47 ,465 105,813,561 1 ,31 ,4 1

86,4 4,070

3 1,66

36 ,150

2,618 3 4,287

36 ,1

364,335

121, 20

+oint Venture

I/D&9 D103 M"$0 +oint Venture /ot yet due 1ast due

0ver 12 months Trade accounts receivable Äą related companies Trade accounts receivable Äą net

7,536 7,536 7,536

121, 20 121, 20 121, 20 121, 20 486,255 516,207 855,454 155,577,410 134,351,476 102,123,070 87,34 ,524

During the year, the movements in allowance for doubtful accounts are as follows 6nit #aht

Consolidated F/S

#alance as at 1 +anuary 2012 Add Additional allowance during the year -ess #ad debt -ess #ad debt recoveries #alance as at 31 December 2012

37, 73,274 1,7 3,815 22,452

3, 41, 73

35,802,664

Separate F/S

1 ,31 ,4 1 1,255,315 22,452

1,582,441

18, 6 , 13

220 8. 3&-"5&% 1"35: 53"/4"$5*0/4 The $ompany has signiĹłcant business transactions with its related parties related by way of common shareholders and or director and mutual management . Such signiĹłcant transactions, which have been reĹ´ected in the $ompanyâ&#x20AC;&#x2122;s Ĺłnancial statements on the terms and bases determined by the $ompany and those companies, which bases might be different from the bases used for transactions with unrelated companies, are summarised below 3FMBUFE DPNQBOJFT V #ig $o., -td. DAI I$HI $orporation 1ublic $ompany -imited -andy Home Thailand $o., -td. Index $reative village 1ublic $ompany -imited

3FMBUJPOTIJQ Shareholder of (reen Ad $o., -td. $o director $o director Shareholder of Max $reative $o., -td. and partner of Index D103 MA$0 +oint Venture 1artner of Index D103 MA$0 +oint Venture 1artner of Index D103 MA$0 +oint Venture 1artner of Town #randing $o., -td. that subsidiaries of Max $reative $o., -td. 6nit Million #aht

Design 103 International $o., -td. Design 103 $o., -td. 3 Hanuman $o., -td.

Transactions with related companies

#illboard rental income

Subsidiary company Associated company 3elated companies $ommission income

Subsidiary company

Consolidated F/S Pricing Policy

1rice and term of payment approximate term granted to general customers

5 of collection which approximates rate granted to general customers

Separate F/S

2012

2011

2012

2011

0.23

0.12 0.28

4.07 0.23

3.88 0.12 0.28

8.78

8.36

104.00 1.40

0.30

0.05

0.3

0.70 0.05

0. 4 0.3

0.54

2.78 0.54

2.88 0.54

Dividend income

Subsidiary company Associated company

$onsulting and accounting service Mutually agreed prices income

Subsidiary company Associated companies 0fĹłce rental income

Subsidiary company Associated companies

Market price

221 6nit Million #aht

Consolidated F/S

Transactions with related companies

0ther income

Pricing Policy

2012

2011

0.33

0.24

1.70 0.33

1.54 0.24

15.15 0.46

10.50 0.76

1.22 14.62 0.46

4.0 10.05 0.76

0.0

12.72

12.60

0.10 12.71

0.02 12.60

38. 0 0.41 0.02

28.77 0.3 0.02

32.36 0.38 0.02

24.88 0.36 0.02

0.17

0.16

0.17

0.15

$ost

Subsidiary company Administrative expenses

2011

$ost

Subsidiary company Associated companies 3elated companies Selling expenses

2012

$ost

Subsidiary company Associated companies $osts of services

Separate F/S

$ost

Subsidiary company Associated companies ,ey management personnel Short term employee beneĹłts 1rovision for post employment beneĹłts 1rovision for other long term beneĹłts Financial cost

,ey management personnel

As at 31 December 2012 and 2011, the outstanding balances of the above transactions are separately presented in the statement of Ĺłnancial position as follow 6nit #aht

Consolidated F/S 2012

2011

Separate F/S 2012

2011

3 4,287

36 ,1

Trade accounts receivable related companies Subsidiary company

Master More $o., -td. Associated company

Max $reative $o., -td

364,335

121, 20

364,335

+oint Venture

I/D&9 D103 MA$0 +oint Venture

121, 20

222 6nit #aht

Consolidated F/S 2012

Separate F/S

2011

2012

2011

486,255

516,207

855,454

2,787,356 171,523 47,822 3,006,701

42,865 430,083 82,334 1,455,282

0utstanding balances and portion of other Koint venture partners

I/D&9 D103 MA$0 +oint Venture Total

7,536 7,536

0ther receivables Äą related companies Subsidiary companies

Master More $o., -td. Maco 3iteSign $o., -td. (reen Ad $o., -td.

Associated companies

InkKet Images Thailand $o., -td. Take A -ook $o., -td. Total

3,34 3,363 6,712

0,274 3,46 3,743

3,34 3,363 6,712

0,274 3,46 3,743

6,712

3,743

3,103,413

1,54 ,025

1repaid expensesÄą related company 3elated company

Index $reative Village 1$-.

846,552

-oans to related company Associated company

Take A -ook $o., -td.

4 5,000

6nearned dividend Subsidiary company

Master More $o., -td.

53, , 46

2,170,448

1,082,55

2,656

0,736

2,173,104

1,173,2 5

5,27 ,678

7,508,1 4

5,050,052

7,415,541

Trade accounts payable Äą related companies Subsidiary companies

Master More $o., -td. Maco 3iteSign $o., -td. Associated company

InkKet Images Thailand $o., -td.

223 6nit #aht

Consolidated F/S

Separate F/S

2012

2011

2012

2011

5,27 ,678

27,135 530,526 557,661 8,065,855

7,223,156

530,526 530,526 ,11 ,362

287, 33

575,867

4,406 2,111 6,517

15,408 8,1 6 23,604

130,840 6,000 226,840

5 ,85 20 , 60 26 ,81

3elated companies

V #ig $o., -td. -andy Home Thailand $o., -td. Total Income received in advance related company Subsidiary company

Master More $o., -td. 0ther payables Äą related companies Subsidiary companies

Master More $o., -td. Maco 3iteSign $o., -td. Associated companies

InkKet Images Thailand $o., -td. -andy Development $o., -td.

154,4 0 6,000 250,4 0

5 ,85 20 , 60 26 ,81

3elated companies

V #ig $o., -td. Index $reative Village 1$-. Total

15,365 17,548 32, 13 283,403

26 ,81

323,357

2 3,423

Short term loan from related company 3elated company

Index $reative Village 1$-.

2,000,000

5,071,771 148,135

4,4 1,2 8 117,567

4,8 2,815 103,558

4,346,132 81,834

3eserve for employee beneĹłts obligation ,ey management personnel

1ost employee beneĹłts 0ther long term beneĹłts

224 -oans to Take A -ook $o., -td. and -andy Development $o., -td. have been granted without collateral and with interest at M-3 1 percent per annum and Ĺłxed rate of 2 percent per annum. These are due at call. Short term loan from related company has been obtained without collateral and with interest rate of 5.25 percent per annum and is repayable in the near future. 9. */7&/503*&4 6nit #aht

Consolidated F/S

8ork in process Finished goods

Total

Separate F/S

2012

2011

2012

2011

5,084,261 3,287,766 8,372,027

3,634,613 3,555,2 0 7,18 , 03

4,871,281 2,674 5,863, 55

3,634,613 7,1 4,631,812

10. 05)&3 $633&/5 "44&54 6nit #aht

Consolidated F/S

Advances 3efundable value Äą added tax 0ther receivables 1repaid rental $urrent portion of prepaid right for

billboards installation 0thers

Total -ess Allowance for non collection of others receivables

/et

Separate F/S

2012

2011

2012

2011

1,6 7,25 4,4 7,485 6, 3,3 4 ,853,87

3,63 , 0 5, 07,868 5,852, 25 11, 70,706

1,308,620 3,074,447 6, 01,2 8 4,870, 05

2, 02,058 3,761,436 5,038,038 5,658,440

2,158,486 , 20,646 35,121,14

3,163,3 4 7,788,826 38,323,70

7,208,101 23,363,371

6,324,587 23,684,55

845, 00

34,275,24

38,323,70

450,000

22, 13,371

23,684,55

225 11. */7&45.&/54 */ 46#4*%*"3: "/% "440$*"5&% $0.1"/*&4 /&5 6nit Thousand #aht

Consolidated F/S Percentage of Investment

At Cost

Equity Method

Paid up Nature of business capital

Investment in associated companies InkKet Images Thailand

1roduction of $o., -td. advertising media and billboard -andy Development 3ental of ofĹłce $o., -td. building Take a -ook $o., -td. Advertising service Max $reative $o., -td. 1roduce and providing advertising media services Total investments in associated companies

2012

2011

2012

2011

2,485

2012

2011

6,000

33.34

2,485 11,323 11,245

40,000

48.87

48.87 16,4 5 16,4 5 23,303 21,145

75,000 5,000

33.33 50.00

33.33 25,000 25,000 50.00 2,500 2,500

145

46,480 46,480 34,626 32,535

As at 14 March 2012, Max $reative $o., -td. entered into Koint investment with 3 Hanuman $o., -td. at the portion of 70 30 percent to establish Town #randing $o., -td. with registered capital of #aht 5.00 million to produce and providing advertising media services. 6nit Thousand #aht

Separate F/S Percentage of Investment

Cost Method

Paid up Nature of business

capital

2012

2011

2012

2011

*OWFTUNFOU JO TVCTJEJBSZ DPNQBOJFT Master and More $o., -td. 1roduce and providing outdoor 20,000 100.00 100.00 74,54 74,54 advertising media services MA$0 3ite Sign $o., -td. 1roduce and sell of tri vision 5,000 80.00 80.00 4,000 4,000 equipment (reen Ad $o., -td. 1roviding advertising services through the supply of tree 5,000 51.00 51.00 2,550 2,550 wall panel Total investments in subsidiary companies 81,0 81,0 Investment in associated companies InkKet Images Thailand $o., -td. 1roduction of advertising media 6,000 33.34 33.34 2,485 2,485 and billboard -andy Development $o., -td. 3ental of ofĹłce building 40,000 48.87 48.87 16,4 5 16,4 5

226 6nit Thousand #aht

Separate F/S Percentage of Investment

Cost Method

Paid up Nature of business

capital

2012

Take a -ook $o., -td. Max $reative $o., -td.

Advertising service 75,000 1roduce and providing 5,000 advertising media services Total investments in associated companies -ess Allowance for impairment of investment in Take a -ook $o., -td.

2011

2012

2011

33.33

33.33 25,000 25,000

50.00

Investments in associated companies Äą net

2,500 2,500 46,480 46,480 25,000 25,000

21,480 21,480

During the years ended 31 December 2012 and 2011, the movements in investments in associated companies are as follows 6nit #aht

Consolidated F/S 2012

0pening balance Additional investment Share of proĹłts on investment equity method Share of loss on investment equity method AdKustment for unrealized loss on investment Dividend income Impairment of investment #alance at end of year

32,535,3 1 3,636,311 145,667

103 1,3 , 3

34,626,145

Separate F/S

2011

2 ,222,754 2,500,000 3,587,402 2,474, 81

215 2 ,

32,535,3 1

2012

2011

21,47 ,475 21,47 ,475

1 ,101,176 2,500,000 121,701

21,47 ,475

The signiĹłcant Ĺłnancial information of the associates in the aggregate amounts are summarized as follows

6nit #aht

For the years ended 31 December

Assets -iabilities 3evenues /et income

2012

2011

162,4 6,102 78,2 5,808 0,25 , 71 7,460,403

158,544, 33 83,176,350 60,485,18 3,33 ,255

227 12. 3&453*$5&% %&104*54 8*5) #"/,4 As at 31 December 2012 and 2011, the $ompanyâ&#x20AC;&#x2122;s and subsidiaryâ&#x20AC;&#x2122;s Ĺłxed deposits totaling #aht 6.45 million and #aht 56.5 million, respectively, for the consolidated Ĺłnancial statements, and #aht 2.45 million and #aht 2.44 million, respectively, for the separate Ĺłnancial statements, have been placed with banks as collaterals for bank guarantees issued on behalf of the $ompany and subsidiary. 13. #6*-%*/( "/% &26*1.&/5 /&5 6nit #aht

Consolidated F/S 2011

#VJMEJOH BOE FRVJQNFOU Äą $PTU #uilding 0fĹłce decorations and equipment Tools and equipments Vehicles #illboard stands 0ther medias 8ork in process 0thers

5PUBM "DDVNVMBUFE EFQSFDJBUJPO #uilding 0fĹłce decorations and equipment Tools and equipments Vehicles #illboard stands 0ther medias 0thers

5PUBM #VJMEJOH BOE FRVJQNFOU OFU

Increase

Decrease

Transfer

2012

61,636,0 8 6 ,770,638

8,134,540

4,742,161 47,24 , 01 4,56 ,217 7,855,624 261,472,360 6,322,850 8,833,733 2,857,453 343, 03,2

2,014,886 41,208,663 4,451,333 6,685, 85 206,220,311 5,017,672 2,716,281 268,315,131

87,22 , 81

75,588,168

228 6nit #aht

Separate F/S 2011

&RVJQNFOU Äą $PTU 0fĹłce decorations and equipment Tools and equipments Vehicles #illboard stands 0ther medias 8ork in process 0thers

5PUBM "DDVNVMBUFE EFQSFDJBUJPO 0fĹłce decorations and equipment Tools and equipments Vehicles #illboard stands 0ther medias 0thers

5PUBM &quipment net

Increase

Decrease

40,865,047 1, 58,368 6,0 6, 62 133,373,14 5,887,86 8,134,540 3,465,070 1 ,781,005

6 ,386 167,000 434, 81 1,301,367

3,386,707 148,200 5,318,1 6 5,617 ,548,723

33,44 ,383 1,81 ,307 5,286,216 131,765,27 3, 15,656 3,123,351 17 ,35 ,1 2

2,786,228 4 ,840 261, 37 1,138,621 1,102,016 1 3,342 5,531, 84

3,321,776 115,5 8 5,318,1 1 635,612 ,3 1,177

Transfer

8,134,540

20,421,813

2012

38,177,726 1,810,168 6,0 6, 62 128,221, 50 6,322,850 2,76 ,453 183,3 ,10 32, 13,835 1,753,54 5,548,153 127,585,70 5,017,672 2,681,081 175,4 , 7,8 ,110

Depreciation in the statement of comprehensive income are as follows 6nit #aht

Consolidated F/S

$ost of service and sales Administration expenses Total

Separate F/S

2012

2011

2012

2011

10, 0,234 4,215,81 15,206,053

,688,484 4,862,681 14,551,165

2,00 ,328 3,522,656 5,531, 84

5,816,318 3,875,40 ,6 1,727

As at 31 December 2012 and 2011, the gross carrying amount of fully depreciated equipment which are still in use amounted to #aht 237.5 million and #aht 232.10 million, respectively, for the consolidated Ĺłnancial statements, and #aht 168.35 million and #aht 162.48 million, respectively, for the separate Ĺłnancial statements. As at 31 December 2012 and 2011, the $ompany and its subsidiaries have assets on leasehold with book value of #aht 247.71 million and #aht 180.44 million, respectively, for the consolidated Ĺłnancial statements, and #aht 126.64 million and #aht 121.24 million, respectively, for the separate Ĺłnancial statements. After the expired date, those assets will have to be dismantled from leasehold by the $ompany and subsidiary or sold at mutually agreed prices.

229 14. $0.165&3 40'58"3& /&5 6nit #aht

Consolidated F/S 2011

$PNQVUFS TPGUXBSF $PTU $omputer software Software under development

Total "DDVNVMBUFE BNPSUJ[BUJPO $omputer software

Total $PNQVUFS TPGUXBSF OFU

Increase

Decrease

Transfer

,45 ,01 255,000 ,714,01

7,485,312 7,485,312 2,228,707

,45 ,01 255,000 ,714,01 5,872,608 5,872,608 3,841,411

1,612,704 1,612,704

2012

6nit #aht

Separate F/S 2011

$PNQVUFS TPGUXBSF $PTU $omputer software Software under development

Total "DDVNVMBUFE BNPSUJ[BUJPO $omputer software

Total $PNQVUFS TPGUXBSF OFU

Increase

Decrease

Transfer

8,578, 42 255,000 8,833, 42

6,651,55 6,651,55 2,182,383

8,578, 42 255,000 8,833, 42 5,065,436 5,065,436 3,768,506

1,586,123 1,586,123

2012

Amortization for the years ended 31 December 2012 and 2011 amounted to #aht 1.61 million and #aht 1.16 million, respectively, for the consolidated Ĺłnancial statements, and #aht 1.5 million and #aht 1.10 million, respectively, for the separate Ĺłnancial statements which are presented in the statement of comprehensive income in the part of administration expenses. 15. &26*1.&/5 )&-% '03 64"(& 6nit #aht

Consolidated F/S

Tri vision equipment Steel and aluminium structure 0ther Total

Separate F/S

2012

2011

2012

2011

,714,070 1,357,65 1,464,324 12,536,053

,633,455 14,435, 68 1,54 ,606 25,61 ,02

11,254,656 1,357,658 5 ,242 13,211,556

11,174,040 14,435, 68 60 , 53 26,21 , 61

During the year 2012, the $ompany sold equipment held for usage of #aht 13 million to 2 companies at approximate cost.

230 As at 31 December 2012, the $ompanyâ&#x20AC;&#x2122;s management reassessed the value of equipment held for usage by comparing with the last quotation of the similar speciĹłcation from the vendor. The last quotation is higher than cost in the book. The management is conĹłdent that the said equipments are not to consider for its impairment. 16. */7&45.&/5 1301&35: As at 31 December 2012 and 2011, investment property represents land not used in operations with a total value of #aht 35.32 million, which the fair value, appraised by independent appraisers with market approach as at 12 and 13 +anuary 2010, is #aht 64. 2 million. The $ompany has mortgaged unused land as collateral for bank overdraft, promissory notes and bank guarantee credit facilities extended by a commercial bank totaling #aht 103 million. 17. 53* 7*4*0/ &26*1.&/5 )&-% '03 64"(& /&5 6nit #aht

Consolidated F/S

Tri vision equipment -ess Allowance for impairment /et

2012

2011

1 , 73,762 2,276,717

17,6 7,045

20,413,761 20,413,761

Separate F/S 2012

2011

As at 31 December 2012 and 2011, the $ompanyâ&#x20AC;&#x2122;s management reassessed the value of tri vision equipment held for usage by comparing with the quotation from the vendor for the similar speciĹłcation of the subsidiaryâ&#x20AC;&#x2122;s assets. The management has plan for using all of Tri vision equipment with the group companiesâ&#x20AC;&#x2122; proKects in the year 2013. 18. 13&1"*% 3*()5 '03 #*--#0"3%4 */45"--"5*0/ /&5 6nit #aht

Consolidated F/S 2012

2011

Separate F/S 2012

2011

1repaid right for billboards installation

0pening net book balance 1aid during the year 3ecorded as expense during the year $losing net book balance -ess $urrent portion

/et

21,8 5,053 3, 0 ,523 3,163,3 3

22,641,183 2,158,486 20,482,6 7

1 ,114,6 3 4, 58, 8 2,178,62

21,8 5,053 3,163,3 4 18,731,65

231 1repaid right for billboards installation is prepaid expense under agreements with remaining term of 10 years. The $ompany will gradually amortize this to expense in fully amount in the year 2022. 19. 05)&3 /0/ $633&/5 "44&54 6nit #aht

Consolidated F/S

Deposits for billboards rental 1repaid consulting fees Deferred expenses billboards proKect (oods and services under #arter Trade agreement which can be utilized more than 1 year 0thers Total -ess Allowance for doubtful debt of goods and services under #arter Trade agreement which can be utilized more than 1 year /et

Separate F/S

2012

2011

2012

2011

5,44 ,483 1,862,225 10,684,720

8,781,483 ,418,356 2,78 ,60 11,104,720

5,44 ,483 10,684,720

8,781,483 11,104,720

7,508,13 25,504,567

6,3 1,008 38,485,176

4,381,153 20,515,356

3,2 0,368 23,176,571

4,36 ,320

21,135,247

4,78 ,320

33,6 5,856

4,36 ,320

16,146,036

4,78 ,320

18,387,251

As at 31 December 2012 and 2011, the values of rights to consumer goods and services under #arter Trade agreement which can be utilized more than 1 year are totalling #aht 6.32 million. These rights occurred from barter of advertising services with a unit of condominium which the $ompany will obtain the transfer of right in second quarter of 2013. As at 31 December 2012, the fair value sale price plus direct cost of condominium is #aht 6.58 million. 20. $3&%*5 '"$*-*5*&4 As at 31 December 2012 and 2011, the $ompany and its subsidiary have credit facilities for bank overdrafts, promissory notes, letters of guarantee and short term loans from Ĺłnancial institutes, with unused balance as follow 6nit Millon #aht

Consolidated F/S 2012

Total facilities 6nused facilities

3 7.50 370.12

2011

38 .65 365.62

Separate F/S 2012

323.50 310.27

2011

324.44 314.11

$redit facilities of #aht 103 million are collateralized by the mortgage of investment property as mentioned in /ote 16. The remaining credit facilities are free of collateral.

232 21. )*3& Äą 163$)"4& "(3&&.&/5 1":"#-& Äą /&5 The outstanding balances for hire purchase agreement payable as at 31 December 2012 are as follows 6nit #aht

Consolidated F/S 2012

Vehicle -ess Accumulated depreciation /et

2011

578,7 2 1 ,2 3

55 ,4

Minimal payment for hire Äą purchase agreements payable as at 31 December 2012 are as follows #aht 2012

2011

Hire purchase agreements payable

Due within one year Due later than one year but not over Ĺłve years Total -ess Deferred interest 1resent value of hire purchase agreement payable -ess $urrent portion of hire purchase agreement payable Hire purchase agreements payable net

135,672 384,404 520,076 117, 06

402,170 135,672

266,4 8

22. 3&4&37& '03 &.1-0:&& #&/&'*54 0#-*("5*0/ Äť

Impact from the Ĺłrst time adoption of new accounting policy which is effective in the year 2011, concerning Äś&mployee #eneĹłtsÄˇ, which the $ompany chose to recognise the past service costs for employee beneĹłts obligation up to 31 December 2010 by adKusting to the retained earnings as at 1 +anuary 2011 totalling #aht 8.31 million for the consolidated Ĺłnancial statements, and #aht 7.1 million for the separate Ĺłnancial statements, to comply with an option under the adoption of this standard.

Äť

For the years ended 31 December 2012 and 2011, the $ompany and subsidiaries have following movements in reserve for employee beneĹłts obligation

233 6nit #aht

Consolidated F/S 2012

0pening net book balance &ffect of change in accounting policy for employee past service beneĹłts obligation AdKusted opening net book balance $urrent cost recognized in the statements of comprehensive income 1aid out during the year $losing net book balance

Äť

,721,630

2011

Separate F/S 2012

8,372,816

2011

,721,630

8,308,432 8,308,432

8,372,816

7,18 ,866 7,18 ,866

1,480,621 531, 00

10,670,351

1,413,1 8 ,721,630

1,248,204 2 8,400

,322,620

1,182, 50 8,372,816

The employee beneĹłt expenses were recorded in the statements of comprehensive income as follows 6nit #aht

Consolidated F/S 2012

$urrent service cost Financial cost

Total

1,11 ,584 361,037 1,480,621

Separate F/S

2011

2012

2011

1,086,732 326,466 1,413,1 8

33,563 314,641 1,248,204

00,40 282,541 1,182, 50

23. 4)"3& $"1*5"At annual general meeting of the $ompany shareholders for the year 2012 hold on 27 April 2012, the shareholders passed a resolution to increase the registered capital from #aht 125 million to #aht 175 million by issuing 50 million new common shares of 1 #aht per share, totaling #aht 50 million to support stock dividend. The $ompany has registered the increased capital with Ministry of $ommerce on 10 May 2012.

234 24. %*7*%&/% 1"*% At the meetings of the $ompany, there are resolutions to pay dividends from the separate Ĺłnancial statements to shareholders as follows Annual shareholders /Board of director meeting

Dividend for the Meeting date

year

27 April 12

2011

1 2012 Shareholder

3 2012 8 August 12 #oard of director

1 2011 22 April 11 Shareholder

5 2011 8 /ovember #oard of 11 director

Type of payment

Payment rate per share (Baht)

Amount

No. of Common share

Payment

(Baht)

(Shares)

date

$ash Stock Total $ash

0.27 0.40 0.67 0.20

33,74 ,730 124, ,000 22 May 2012 4 , ,563 124, ,000 22 May 2012 83,74 ,2 3 34, ,712 174, 8,563 7 Sep 2012

2010

$ash

0.25

31,24 ,750 124, ,000 10 May 2011

Interim 2011

$ash

0.25

31,24 ,750 124, ,000 6 December 2011

Interim 2012

25. -&("- 3&4&37& 6nder the provision of 1ublic $ompany Act #.&. 2535, the $ompany is required to set aside as a statutory reserve at least 5 percent of its net proĹłt, net of deĹłcit if any , at each dividend declaration until the reserve reaches 10 percent of the registered capital. This reserve is not distributable for dividends. During the second quarter of 2012, the $ompany appropriated proĹłt as legal reserve totaling #aht 5 million to cope up with the increase registered capital. 26. 4&37*$&4 */$0.& 1art of service income for the years ended 31 December 2012 and 2011 were incurred from the barters of goods or services for the following values 6nit Million #aht

$onsolidated Separate F S

2012

2011

.48 1.08

25.73 8.20

235 27. 05)&3 */$0.& 6nit Million #aht

Consolidated F/S 2012

3eversal of allowance for doubtful debt Service income 3eversal of long outstanding liabilities 0thers

Total

Separate F/S

For the years ended 31 December 2011 2012 2011

4.36 2.73 2.71 3.81 13.61

0.73 2.55 3.25 6.53

2.00 7. 0 2.47 2.7 15.16

0.63 7. 1 1.78 10.32

28. &91&/4&4 #: /"563& SigniĹłcant expenses by nature are as follows 6nit #aht

Consolidated F/S 2012

3ental and services 3ental for billboard stands 0ther costs Salaries and other employee beneĹłts Depreciation and amortization Sales promotion 6tilities Allowances for doubtful debts and debt written off Director remuneration and meeting fee Amortization of deferred consulting fee and deferred expenses on billboard proKect -oss from impairment of investment -oss from impairment of tri vision equipment 0thers

2011

Separate F/S 2012

2011

76,481,253 110,186, 16 182,248, 62 0,868,032 16,818,757 43,380,442 13,78 ,370

76, ,484 7,016,102 124,706,230 73,635,843 15,716,034 54,371,032 12,643,103

27,860,731 110,186, 16 131,125,57 73,682,420 7,118,107 28,526,56 12,7 3,310

27,606,810 7,016,102 115,832,4 7 5 ,660,104 10,7 4,613 26,712,663 12,2 6,703

2,63 ,715 2,160,000

15,803,238 2,210,000

1,705,315 2,160,000

1,136,875 2,210,000

10,345,740 2,276,717 20,58 ,6 7

6,134,384 22,332, 0

15, 05,746

121,701 17,638,864

236 29. */$0.& 5"9 6nit Million #aht

Consolidated F/S 2012

/et income after tax Income tax /et income before income tax Add Items that have to be added back under the 3evenue $ode -ess Tax exempted income /et taxable income Income tax 23

Income tax 25

Income tax 30

Separate F/S

For the years ended 31 December 2011 2012

2011

13 .07 41.72 180.7 .67

7.42 46.14 143.56 20.36

1 6.52 27.52 224.04 4.1

78.55 31.25 10 .80 3.63

.07

181.3

1.77

162.15

108.57

11 .66

0. 3

112.50

41.72 41.72

27.52 12.50 33.64 46.14

27.52

12.50 18.75 31.25

30. 1307*%&/% '6/% 0n 2 +une 2005, the $ompany and subsidiaries and their employees Kointly established provident fund plans as approved by the Ministry of Finance in accordance with the 1rovident Fund Act #.&. 2530. The funds are contributed to by employees and the $ompany and its subsidiaries at the rates of 2 5 percent of salaries. The provident funds will be paid to the employees upon termination of employments in accordance with the rules of the funds. The funds are managed by Ayudhya Fund Management $o., -td. During the years ended 31 December 2012 and 2011, the $ompany and subsidiaries contributed to the fund totalling #aht 1.77 million and #aht 1.00 million, respectively separate F S #aht 1.52 million and #aht 0.81 million, respectively . 31. &NQMPZFF +PJOU *OWFTUNFOU 1MBO &+*1

0n 1 +uly 2010, the $ompany entered into a memorandum of understanding with employees in management level of the $ompany for the &mployee +oint Investment 1rogram Äś&+I1Äˇ . The period of the &+I1 is for three years commencing 1 +uly 2010 until 31 +uly 2013. &+I1 members shall contribute not over 5 of their monthly basic salaries on a speciĹłc date every month. The fund is managed by 1hilip securities Thailand

1ublic $ompany -imited. &+I1 members shall receive from the $ompany 80 of such contribution amount. An &+I1 membersâ&#x20AC;&#x2122; contribution and the $ompany contribution shall be used to purchase MA$0 common shares on the Stock &xchange of Thailand within the speciĹłed determined dates. During the year ended 31 December 2012 and 2011, the $ompany and subsidiaries contributed to the fund totalling #aht 1.07 million and #aht 0. 4 million, respectively, Separate F S #aht 0. 3 million and #aht 0.7 million, respectively .

237 32. %*4$-0463& 0' '*/"/$*"- */4536.&/54 Financial assets and Ĺłnancial liabilities carried on the statement of Ĺłnancial position include cash and cash equivalents, restricted deposits with banks, trade and other accounts receivable and payable, loans and investments. The accounting policies on recognition and measurement of these items are disclosed in the respective accounting policies in /ote 3 to the Ĺłnancial statements. -iquidity 3isk -iquidity risk arises from the possibility that customers may not be able to settle obligations to the $ompany within the normal terms of trade. To manage this risk, the $ompany periodically assesses the Ĺłnancial viability of customers. $redit 3isk $redit risk refers to the risk that counterparty will default in its contractual obligations resulting in a Ĺłnancial loss to the $ompany. Management believes that the $ompany has no signiĹłcant concentration of credit risk with any single counterparty or group of counterparties since the $ompany has large number of customers. Interest 3ate 3isk The interest rate risk is the risk that the value of a Ĺłnancial instrument will Ĺ´uctuate due to changes in market interest rate. The signiĹłcant Ĺłnancial assets classiĹłed by interest rate types are as follows 6nit #aht

Consolidated F/S Floating rate

Financial assets $ash and cash equivalents Temporary investments -oan to related company 3estricted deposits with banks

231,643,778 4 5,000 6,452,05

31 December 2012 Fixed rate None - interest

32,000,000

858,673 37,130, 63

Total

232,502,451 6 ,130, 63 4 5,000 6,452,05 6nit #aht

Consolidated F/S 31 December 2011 Floating rate

Financial assets $ash and cash equivalents Temporary investments -oan to related company 3estricted deposits with banks

217,864,712 4 5,000 5,651,377

Fixed rate

None - interest

2,168, 0 38,437, 2

Total

220,033,621 38,437, 2 4 5,000 5,651,377

238 6nit #aht

Separate F/S Floating rate

Financial assets $ash and cash equivalents Temporary investments -oan to related company 3estricted deposits with banks

177,003,183 4 5,000 2,452,05

31 December 2012 Fixed rate None - interest

32,000,000

821,550 37,130, 63

Total

177,824,733 6 ,130, 63 4 5,000 2,452,05 6nit #aht

Separate F/S Floating rate

Financial assets $ash and cash equivalents Temporary investments -oan to related company 3estricted deposits with banks

153,832,578 4 5,000 2,441,377

31 December 2011 Fixed rate None - interest

2,154,078 36,320,60

Total

155, 86,656 36,320,60 4 5,000 2,441,377

Financial assets with Ĺłxed interest rates and maturity, from the statements of Ĺłnancial position date of 31 December 2012 and 2011, are as follows 6nit #aht

Consolidated F/S At call

Financial assets $ash and cash equivalents Temporary investments -oan to related company 3estricted deposits with banks

143,827,700 37,130, 63 4 5,000

31 December 2012 1 - 6 months 7 - 12 months

88,674,751 32,000,000 6,452,05

Total

232,502,451 6 ,130, 63 4 5,000 6,452,05

Interest rate

0.75 2.10 3.50 8.25 1.60 2.15 6nit #aht

Consolidated F/S At call

Financial assets $ash and cash equivalents Temporary investments -oan to related company 3estricted deposits with banks

31 December 2011 1 - 6 months 7 - 12 months

111,671,107 108,362,514 38,437, 2 4 5,000 5,651,377

Total

220,033,621 38,437, 2 4 5,000 5,651,377

Interest rate

0.75 2.10 8.25 1.00 1. 0

239 6nit #aht

Separate F/S At call

Financial assets $ash and cash equivalents Temporary investments -oan to related company 3estricted deposits with banks

101,448,665 37,130, 63 4 5,000

31 December 2011 1 - 6 months 7 - 12 months

76,376,068 32,000,000 2,452,05

Total

177,824,733 6 ,130, 63 4 5,000 2,452,05

Interest rate

0.75 2.10 3.50 8.25 1.60 2.15 6nit #aht

Separate F/S At call

Financial assets $ash and cash equivalents Temporary investments -oan to related company 3estricted deposits with banks

66,313,110 36,320,60 4 5,000

31 December 2012 1 - 6 months 7 - 12 months

8 ,673,546 2,441,377

Total

155, 86,656 36,320,60 4 5,000 2,441,377

Interest rate

0.75 2.10 8.25 1.00 1. 0

Fair Value of Financial Instruments Fair value is deĹłned as the amount at which the instrument could be exchanged in a current transaction between knowledgeable willing parties on an armâ&#x20AC;&#x2122;s length basis. Fair values are obtained from quoted market prices or discounted cash Ĺ´ow models. The following methods and assumptions are used to estimate the fair value of each class of Ĺłnancial instruments. Äť

$ash and cash equivalents, temporary investments, restricted deposits with banks and accounts receivable the carrying values approximate their fair values due to the relatively short term maturity of these Ĺłnancial instruments.

Äť

-oans to related companies carrying a Ĺ´oat rate Minimum -oan 3ate, which is considered to be market rate the carrying values approximate their fair values.

Äť

Accounts payable the carrying amounts of these Ĺłnancial liabilities approximate their fair values due to the relatively short term maturity of this Ĺłnancial instrument.

240 33. $0..*5.&/54 As at 31 December 2012, the $ompany and its subsidiaries have the following outstanding commitments and contingent liabilities $ommitments with third parties 33.1 The $ompany and its subsidiaries have agreements with government agency for space rental for the installation of billboards and electricity usage, totalling approximately #aht 27.38 million Separate F S #aht 13.23 million . The $ompany and its subsidiaries have adequately taken up accrued rent proportionately based on the rent period. These agreements are cover by bank guarantees of local banks. 33.2 The $ompany and its subsidiaries have commitments under long term lease and service agreements, mainly relating to the rental of space for advertising business. Summarised below are the future rental and service fees under the agreements 6nit Million #aht

Year

2013 2014 2017 2018 onward

Total

Consolidated F/S

Separate F/S

126.25 122.40 42.35 2 1.00

8.23 28.37 126.60

SigniĹłcant conditions are as follows Äť Monthly payment of rent are 1 month deposit that will be refunded when agreement is terminated. Äť 0ption to renew agreements every 3 years with rental adKustment at market condition. 33.3 The $ompany has commitments based on the portion of shareholding in the associated company under the -&D Screen sale contract of Take A -ook $o., -td., associated company, for the value of #ath 47 million received by cash of #aht 1 .50 million and advertising right of #aht 27.50 million for 3 year period. 6nder the contract, the associated company has to comply with the condition, such as the maintenance of equipment, whereby the $ompany has to be responsible for any damage if any

expiring on 31 December 2012. 33.4 As at 22 December 2006, the $ompany guaranteed debt of -andy Development $o., -td., associated company, with a bank at #aht 8 million and -andy Development $o., -td. guaranteed debt of the $ompany and or DAI I$HI $orporation 1ublic $ompany -imited and or -andy Home Thailand

$o., -td., with a bank at #aht 47 million. As at 31 December 2012, the $ompany is contingently liable for debt of -andy Development $o., -td., based on its portion of shareholding, of #aht 1 .8 million.

241 34. -*"#*-*5: '30. -&("- %*4165& During the year 200 , the $ourt of First Instance had ordered the subsidiary to pay indemniĹłcation to a supplier for the service fee and lease of advertising media amounting to #aht 7.55 million. The subsidiary had recorded this indemniĹłcation amounting to #aht 5.38 million as expenses during the year 2006. Starting the 3rd quarter of the year 2010, the subsidiary had recorded addition indemniĹłcation including interest expense amounting to #aht 5.74 million. The management of subsidiary believes that this is adequate. Such subsidiary had appealed to dispute the verdict and currently is under considering of the Appeal $ourt. The $ompany has already placed bank guarantee amounting to #aht 11.45 million with the $ourt of Appeal. As at 31 December 2012 and 2011, these liabilities are presented as trade accounts payable general suppliers totaling #aht 11.12 million and #aht 10.56 million, respectively, for consolidated Ĺłnancial statements that expected to be repaid after twelve months. 35. 3&$-"44*'*$"5*0/ The $ompany reclassiĹłed goodwill and discount on increment of investment in subsidiary for separate presentation in the consolidated Ĺłnancial statements. This reclassiĹłcation affected only the presentation in the consolidated statements of Ĺłnancial position as at 31 December 2011 which has no effect on net income and earnings per share for the year 2011 as follows Statements of ďŹ nancial position

Million Baht

Assets

/on current assets Increase in goodwill Shareholdersâ&#x20AC;&#x2122; equity Increase in other components of equity

13.04 13.04

(oodwill occurred from acquisition of Master and More $o., -td. at the portion of 67.50 from a company in the year 2004. 36. "11307"- 0' '*/"/$*"- 45"5&.&/54 These Ĺłnancial statements have been approved by the #oard of directors of the $ompany on 8 February 2013.

MACO Activities 2012 กิจกรรมของ บริษัท มาสเตอร์ แอด จํากัด (มหาชน)

ปี 2555

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Ă°Ĺ&#x2DC; 2549 2555 ĂŻĂ¸Ä&#x2030;ĂžÄ&#x2020;ĂŹÄ&#x2022;ĂŠĹĄĂ¸Ä&#x2020;ĂŻĂ&#x2013;Ä&#x2021;Ă¸Ă°Ă¸Ä&#x2026;Ä&#x2018;ĂśÄ&#x2030;ĂŽĂ&#x2013;Ä&#x2021;Ă¸Ă&#x2013;Ä&#x17E;Ä&#x2021;Ă&#x2013;Ä&#x2020;ĂŻĂŠÄ&#x17D;Ă&#x2013;Ä&#x2030;Ă?Ă&#x2013;Ä&#x2021;Ă¸Ă?Ä&#x2021;Ă&#x2013;ĂżĂśÄ&#x2021;Ă&#x2122;ĂśĂżĹ Ă&#x153;Ä&#x2018;ĂżĂ¸Ä&#x2030;ĂśĂżĂŤÄ&#x2021;ĂŻÄ&#x2020;ĂŽĂ&#x2013;Ă¸Ă¸ĂśĂ&#x2013;Ä&#x2021;Ă¸ĂŻĂ¸Ä&#x2030;ĂžÄ&#x2020;ĂŹÄ&#x2022;ĂŹĂˇ *0% Ä&#x201A;ĂˇÄ&#x17D;Ĺ Ä&#x201D;ĂŽĂ¸Ä&#x2026;ĂŠÄ&#x2020;ĂŻĂŠÄ&#x160;ĂśÄ&#x2021;Ă&#x2013; In 2006 2012, the $ompany has been evaluated $orporate Governane by the Thai Institute of Directors I0D to be Very Good $G Scoring

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Ă¸Ĺ ĂźĂśĂ&#x2013;Ä&#x2020;ĂŻĂżĂśÄ&#x2021;Ă&#x2122;ĂśĂżĹ Ă&#x153;Ä&#x2018;ĂżĂ¸Ä&#x2030;ĂśĂąÄ&#x17D;ĹĄĂşĂ&#x153;ĂŹÄ?ĂŽÄ&#x2022;ĂŹĂˇ Ä&#x2019;ĂşÄ&#x2026;ĂżĂśÄ&#x2021;Ă&#x2122;ĂśĂŻĂ¸Ä&#x2030;ĂžÄ&#x2020;ĂŹĂ?ĂŠ ĂŹÄ&#x2026;Ä&#x2018;ĂŻÄ&#x160;ĂˇĂŽ Ä&#x201A;ĂˇÄ&#x17D;Ĺ Ä&#x201D;ĂŽÄ&#x2018;Ă&#x2013;Ă¨ĂŚĹ¤ ĂŠÄ&#x160;Ä&#x2018;ĂˇÄ&#x160;Ä&#x2122;ĂˇĂś In 2007 2011, the $ompany received an appraisal of very good for the organing of its Annual (eneral meeting from the Securities &xchange $ommission, the Thai Investor Association, and the -isted $ompanies Association. Ă°Ĺ&#x2DC; 2555 ĂŻĂ¸Ä&#x2030;ĂžÄ&#x2020;ĂŹÄ&#x2022;ĂŠĹĄĂ¸Ä&#x2020;ĂŻĂąĂşĂ&#x2013;Ä&#x2021;Ă¸Ă°Ă¸Ä&#x2026;Ä&#x2018;ĂśÄ&#x2030;ĂŽĂ&#x2122;Ä?Ă¨ĂľÄ&#x2021;ĂłĂ&#x2013;Ä&#x2021;Ă¸Ă?Ä&#x2020;ĂŠĂ°Ă¸Ä&#x2026;Ă&#x;Ä?ĂśĂżÄ&#x2021;ĂśÄ&#x2020;Ă˘ĂąÄ&#x17D;ĹĄĂŤÄ&#x152;Ä&#x201A;Ä&#x20AC;Ä?ĹĄĂŽĂ°Ă¸Ä&#x2026;Ă?Ä&#x17E;Ä&#x2021;Ă°Ĺ&#x2DC;Ă Ä&#x2039;Ä&#x2122;Ă&#x153;Ă?Ä&#x2020;ĂŠÄ&#x201C;ĂŠĂˇĂżÄ&#x17E;Ä&#x2021;ĂŽÄ&#x2020;Ă&#x2013;Ă&#x153;Ä&#x2021;ĂŽĂ&#x2122;Ă¨Ä&#x2026;Ă&#x2013;Ă¸Ă¸ĂśĂ&#x2013;Ä&#x2021;Ă¸Ă&#x2013;Ä&#x17E;Ä&#x2021;Ă&#x2013;Ä&#x2020;ĂŻÄ&#x20AC;ĂşÄ&#x2020;Ă&#x2013;ĂŹĂ¸Ä&#x2020;ĂłĂˇĹ¤Ä&#x2019;ĂşÄ&#x2026; ĂŞĂşÄ&#x2021;ĂŠÄ&#x20AC;ĂşÄ&#x2020;Ă&#x2013;ĂŹĂ¸Ä&#x2020;ĂłĂˇĹ¤ Ă&#x2013;ĂşĂŞ. Ă¸Ĺ ĂźĂśĂ&#x2013;Ä&#x2020;ĂŻĂżĂśÄ&#x2021;Ă&#x2122;ĂśĂżĹ Ă&#x153;Ä&#x2018;ĂżĂ¸Ä&#x2030;ĂśĂąÄ&#x17D;ĹĄĂşĂ&#x153;ĂŹÄ?ĂŽÄ&#x2022;ĂŹĂˇ Ä&#x2019;ĂşÄ&#x2026;ĂżĂśÄ&#x2021;Ă&#x2122;ĂśĂŻĂ¸Ä&#x2030;ĂžÄ&#x2020;ĂŹĂ?ĂŠĂŹÄ&#x2026;Ä&#x2018;ĂŻÄ&#x160;ĂˇĂŽ Ä&#x201A;ĂˇÄ&#x17D;Ĺ Ä&#x201D;ĂŽÄ&#x2018;Ă&#x2013;Ă¨ĂŚĹ¤ ĂŠÄ&#x160;Ä&#x2018;ĂşÄ&#x2030;Ă˝ In 2012, the $ompany received an appraisal of excellent for the organing of its Annual (eneral meeting from the Securities &xchange $ommission, the Thai Investor Association, and the -isted $ompanies Association. Ă°Ĺ&#x2DC; 2554 ĂŻĂ¸Ä&#x2030;ĂžÄ&#x2020;ĂŹÄ&#x2022;ĂŠĹĄĂ¸Ä&#x2020;ĂŻĂ¸Ä&#x2021;Ă&#x153;ĂźÄ&#x2020;ĂşS&T Awards ĂŠĹĄÄ&#x2021;ĂŽĂ&#x2013;Ä&#x2021;Ă¸Ă¸Ä&#x2021;ĂˇĂ&#x153;Ä&#x2021;ĂŽĂŻĂ¸Ă¸ĂžÄ&#x2020;ĂŹĂľÄ&#x2030;ĂŻÄ&#x2021;ĂşĂŠÄ&#x160;Ä&#x2018;ĂˇÄ&#x160;Ä&#x2122;ĂˇĂś Top $orporate (overnance 3eport Awards Ă°Ă¸Ä&#x2026;Ä&#x2018;ĂľĂŹĂŻĂ¸Ä&#x2030;ĂžÄ&#x2020;ĂŹ Ă?ĂŠĂŹÄ&#x2026;Ä&#x2018;ĂŻÄ&#x160;ĂˇĂŽÄ&#x201D;ĂŽĂŞĂşÄ&#x2021;ĂŠÄ&#x20AC;ĂşÄ&#x2020;Ă&#x2013;ĂŹĂ¸Ä&#x2020;ĂłĂˇĹ¤ Ä&#x2018;Ä&#x201A;Ä&#x2DC;Ăś Ä&#x2018;Ä&#x201A; Ä&#x2022;Ä&#x201A; ĂŹÄ&#x160;Ä&#x2122;ĂśÄ&#x160;Ă&#x2122;Ä&#x2026;Ä&#x2019;ĂŽĂŽĂŠĹĄÄ&#x2021;ĂŽĂ&#x2013;Ä&#x2021;Ă¸Ă¸Ä&#x2021;ĂˇĂ&#x153;Ä&#x2021;ĂŽĂŻĂ¸Ă¸ĂžÄ&#x2020;ĂŹĂľÄ&#x2030;ĂŻÄ&#x2021;ĂşĂżÄ&#x17D;Ă&#x153;ĂżÄ?ĂŠ 3ecently, MA$0 wins S&T A8A3D 2011 in Top $orporate (overnance 3eport Awards. Awards given to companies having excellent corporate governance reports in MAIi listed company. It is the Award of Honor for MA$0 which has been outstanding in terms of performance, Good corporate governance reports Ă°Ĺ&#x2DC; 2555 ĂŻĂ¸Ä&#x2030;ĂžÄ&#x2020;ĂŹÄ&#x2022;ĂŠĹĄĂ¸Ä&#x2020;ĂŻĂ¸Ä&#x2021;Ă&#x153;ĂźÄ&#x2020;Ăş S&T Awards 2 Ă¸Ä&#x2021;Ă&#x153;ĂźÄ&#x2020;Ăş Ä&#x2022;ĂŠĹĄÄ&#x2019;Ă&#x2013;Ĺ Ă¸Ä&#x2021;Ă&#x153;ĂźÄ&#x2020;ĂşĂąÄ&#x17D;ĹĄĂŻĂ¸Ä&#x2030;Ä&#x20AC;Ä&#x2021;Ă¸ĂżÄ&#x17D;Ă&#x153;ĂżÄ?ĂŠĂˇÄ&#x201A;ĂŠÄ&#x2018;ĂˇÄ&#x160;Ä&#x2122;ĂˇĂś #est $&0 Awards Ä&#x2019;ĂşÄ&#x2026; Ă¸Ä&#x2021;Ă&#x153;ĂźÄ&#x2020;ĂşĂŻĂ¸Ä&#x2030;ĂžÄ&#x2020;ĂŹĂ?ĂŠĂŹÄ&#x2026;Ä&#x2018;ĂŻÄ&#x160;ĂˇĂŽĂŹÄ&#x160;Ä&#x2122; ĂśÄ&#x160;ĂąĂşĂ&#x2013;Ä&#x2021;Ă¸ĂŠÄ&#x17E;Ä&#x2021;Ä&#x2018;ĂŽÄ&#x2030;ĂŽĂ&#x153;Ä&#x2021;ĂŽĂˇÄ&#x201A;ĂŠÄ&#x2018;ĂˇÄ&#x160;Ä&#x2122;ĂˇĂś #est 1erformance Awards Ă Ä&#x2039;Ä&#x2122;Ă&#x153;ĂŽÄ&#x2020;ĂŻÄ&#x2018;Ă°Ĺ¨ĂŽĂ¸Ä&#x2021;Ă&#x153;ĂźÄ&#x2020;ĂşÄ&#x2018;Ă&#x2013;Ä&#x160;ĂˇĂ¸ĂŞÄ&#x2030;ĂˇĂ˝Ä&#x2019;Ä&#x20AC;Ĺ Ă&#x153;Ă&#x2122;ĂźÄ&#x2021;ĂśĂżÄ&#x17E;Ä&#x2021;Ä&#x2018;Ă¸Ä&#x2DC;Ă?Ă&#x2014;Ä&#x201A;Ă&#x153; MA$0 ĂŹÄ&#x160;Ä&#x2122;ĂŻĂ¸Ä&#x2030;Ä&#x20AC;Ä&#x2021;Ă¸Ă&#x153;Ä&#x2021;ĂŽÄ&#x201A;ĂˇĹ Ä&#x2021;Ă&#x153;ĂśÄ&#x160;ĂźÄ&#x2030;ĂżÄ&#x2020;Ăˇ ĂŹÄ&#x2020;Ă˝ĂŽĹ¤ Ä&#x2019;ĂşÄ&#x2026;ĂˇÄ&#x2039;ĂŠÄ&#x20AC;ĂşÄ&#x2020;Ă&#x2013;Ă&#x2013;Ä&#x2021;Ă¸Ă&#x2013;Ä&#x17E;Ä&#x2021;Ă&#x2013;Ä&#x2020;ĂŻĂŠÄ&#x17D;Ä&#x2019;ĂşĂ&#x2013;Ä&#x2030;Ă?Ă&#x2013;Ä&#x2021;Ă¸ĂŹÄ&#x160;Ä&#x2122;ĂŠÄ&#x160;ĂśÄ&#x2021;Ä&#x201C;ĂŠĂˇĂŞĂşÄ&#x201A;ĂŠ &WBMVBUJPO SFTVMUT PO $PSQPSBUF (PWFSOBODF In 2012, the $ompany has won two prestigious awards, namely the #est $&0 Awards, and the #est 1erformance Awards. It is the real honour of success for MA$0 on its visionary management and abiding to corporate governance principles.