SCI Annual Report 2015
Annual Report Annual Report
Relationship - An executive director of TSL, namely, Mr. Kriangkrai Pheanvitayaskul serves as SCI’s director. Nature of Transaction Prepaid rental - vehicle Rental expense - vehicle Other receivable Rental income Transaction value (Million Baht) Transaction balance (Million Baht) Of 2014 Of 2015 As at 31/12/14 As at 31/12/15 - - 1.16 0.77 0.13 0.38 - - - 0.08 - 0.02 0.08 - - - SCI Electric Public Company Limited Necessity/Justification Opinion of the Board and the Audit Committee The Company lease vehicle for travel in Lao. The rental rate are close to market price, an ordinary course of business. The Company lease out the space for Tad Salen’s office to operate in Lao. The rental rate are close to market price, representing an ordinary course of business. However, the transaction was ceased since March 2015. 178 Name of Interested or Related party/ Company
Relationship Name of Interested or Related party/ Company - This is a related company. - A director of the Company, namely, Mr. Kriangkrai Pheanvitayaskul serves as director in STAR and hold shares representing 33.33 percent as 31 December 2015. FRP Co.,Ltd** holds shares representing 16.67 percent as at 31 December 2015. - Shareholder of SCI Nature of Transaction Sale Trade receivable Rental income Other receivable Transaction value (Million Baht) Of 2014 Of 2015 As at 31/12/14 As at 31/12/15 - 15.61 - - - 0.01 - - 0.02 - Transaction balance (Million Baht) Necessity/Justification 9.30 - - 15.03 - 0.08 SCIMT, a subsidiary, sold concrete sleeper. STAR RAIL Co.,Ltd. (“STAR”) Nature of business: Manufacturer of concrete sleeper, railway steel support and others railway products. - A director of the Company, namely, Mr. Kuniyoshi Mito serves as executive director in AG AJIKAWA CORPORATION, Japan. Sale Trade receivable Engineering consultation service 6.60 - 6.21 - - 2.93 - - SCIMT, a subsidiary, lease out space for STAR’s office. SCIMT, a subsidiary, sold substation. 2.92 2.01 - - SCIMT, a subsidiary, received engineering consultation service. Opinion of the Board and the Audit Committee The transaction reasonable to company’s operation. The prize are close to market price, representing an ordinary course of business. The rental rate are close to market price, representing an ordinary course of business. AG AJIKAWA CORPORATION (Japan) However, the transaction was ceased since August 2015. The transaction is reasonable to company’s operation. The prize are close to market price, representing an ordinary course of business. The transaction is reasonable to a subsidiary’s operation The service charge is based on the agreed rate as mentioned in contract. Nature of business: Provide technical service related to steel tower supply Annual Report 2015 179
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Relationship<br />
- An executive<br />
director of TSL,<br />
namely,<br />
Mr. Kriangkrai<br />
Pheanvitayaskul<br />
serves as <strong>SCI</strong>’s<br />
director.<br />
Nature of<br />
Transaction<br />
Prepaid rental<br />
- vehicle<br />
Rental expense<br />
- vehicle<br />
Other receivable<br />
Rental income<br />
Transaction value<br />
(Million Baht)<br />
Transaction balance<br />
(Million Baht)<br />
Of 2014 Of <strong>2015</strong> As at 31/12/14 As at 31/12/15<br />
- - 1.16 0.77<br />
0.13 0.38 - -<br />
-<br />
0.08<br />
-<br />
0.02<br />
0.08<br />
-<br />
-<br />
-<br />
<strong>SCI</strong> Electric Public Company Limited<br />
Necessity/Justification<br />
Opinion of the Board<br />
and the Audit<br />
Committee<br />
The Company lease vehicle<br />
for travel in Lao.<br />
The rental rate are<br />
close to market price,<br />
an ordinary course of<br />
business.<br />
The Company lease out the<br />
space for Tad Salen’s office<br />
to operate in Lao.<br />
The rental rate are<br />
close to market price,<br />
representing an<br />
ordinary course of<br />
business. However,<br />
the transaction was<br />
ceased since March<br />
<strong>2015</strong>.<br />
178<br />
Name of Interested<br />
or Related party/<br />
Company