SCI Annual Report 2015

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SCI Electric Public Company Limited SCI ELECTRIC PUBLIC COMPANY LIMITED AND ITS SUBSIDIARIES (FORMERLY KNOW AS “SCI ELECTRIC MANUFACTURER COMPANY LIMITED”) NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE TEAR ENDED 31 DECEMBER 2015 The total number of authorised ordinary shares is 750 million shares (2014: 1.65 million shares) with a par value of Baht 1 per share (2014: Baht 100 per share). All issued shares are fully paid. At the General Shareholders Meeting No. 1/2558 on 16 March 2015, the shareholders had a resolution to increase the share capital from Baht 165,000,000 to Baht 562,500,000 by increase the registered share capital of 3,975,000 shares at par value of Baht 100, totaling Baht 397,500,000 and called up the subscription of Baht 100 per share. The Company registered the increased share capital with the Ministry of Commerce on 7 April 2015. At the Extraordinary General Shareholders Meeting No. 1/2558 on 22 April 2015, the shareholders had the following resolutions: - To devalue the par value of Baht 100 per share to Baht 1 per share, resulting to the registered and paid-up share capital changed from 1,650,000 shares at par value of Baht 100 per share to 165,000,000 shares at par value of Baht 1 per share, totaling Baht 165,000,000. The Company registered the change of par value with the Ministry of Commerce on 1 May 2015. - To approve to increase the registered share capital from Baht 562,500,000 to Baht 750,000,000 by increase the registered share capital of 187,500,000 shares at par value of Baht 1 to distribute to public. During 5 October 2015 to 7 October 2015, the Company made a public offering of the 187.5 million shares at Baht 5.9 per share; total consideration is amounting to Baht 1,106.3 million and received the consideration of increased share capital on 8 October 2015. All direct expenses related to the share offering amounting to approximately Baht 39.71 million. The Company registered the increase of paid-up share capital with the Ministry of Commerce on 8 October 2015. 27. Legal Reserve In Baht Consolidated financial statements Separate financial statements 2015 2014 2015 2014 As at 1 January 816,000 816,000 816,000 816,000 Appropriation - the Company 22,684,000 - 22,684,000 - Appropriation - Subsidiary 3,800,000 - - - As at 31 December 27,300,000 816,000 23,500,000 816,000 Under the Public Limited Company Act., B.E. 2535, the Company is required to set aside as a legal reserve at least 5% of its net profit after accumulated deficit brought forward (if any) until the reserve is not less than 10% of the registered capital. The legal reserve is non-distributable. The legal reserve of the Company was established in accordance with the provisions of the Thai Civil and Commercial Code, which requires the appropriation as legal reserve of at least 5% of net income for the year after deduction of the deficit brought forward (if any) until the reserve reaches 10% of the authorized share capital. This reserve is not available for dividend distribution. 28. Dividend Payment At the General Shareholders Meeting No. 1/2558 on 16 March 2015, the shareholders had a resolution to approve for dividend payment from retained earnings as at 31 December 2014 to the shareholders of 1,650,000 shares at Baht 267.67 per share, totaling of Baht 441,666,667. Such dividend paid to the shareholders during March and April 2015 and allocate for the additional legal reserve amounting to Baht 15,684,000 from Baht 816,000, total legal reserve is amounting to Baht 16,500,000. 234
SCI ELECTRIC PUBLIC COMPANY LIMITED AND ITS SUBSIDIARIES (FORMERLY KNOW AS “SCI ELECTRIC MANUFACTURER COMPANY LIMITED”) NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE TEAR ENDED 31 DECEMBER 2015 Ajikawa& SCI Metal Tech Co., Ltd. At the Board of Directors Meeting No. 9/2558 on 21 December 2015, the meeting had a resolution to approve for interim dividend payment from the operation results for the nine-month period ended as 30 September 2015 at Baht 35.00 per share to the shareholders of 1,080,000 shares, totaling of Baht 37,800,000 and approve the legal reserve amounting to Baht 3,800,000. Such dividend will paid to the shareholders in February 2016 29. Other Income In Baht Consolidated financial statements Separate financial statements 2015 2014 2015 2014 impairment on investment in subsidiary - - 51,285,354 - Dividen income - - 37,799,300 - Gain on foreign exchange rate 13,451,786 466,995 13,377,810 - Interest income 1,143,722 1,565,358 4,240,405 5,148,462 Changes in fair value of trade securities 3,006,107 - 3,006,107 - Gain on disposal of available-for-sale 2,501,577 2,810,037 - - Gain on disposal equipment - 1,024,110 - 4,143,233 Other income 6,726,323 8,866,896 486,180 1,621,643 Total 26,829,515 14,733,396 110,195,156 10,913,338 30. Expense By Nature In Baht Consolidated financial statements Separate financial statements 2015 2014 2015 2014 Changes in inventories of finished goods and work in process (2,865,944) (73,865,180) (2,539,054) (11,629,920) Raw material and consumables used 993,113,983 984,615,264 265,759,465 196,235,277 Employee benefit expense 243,210,301 216,028,539 82,768,932 53,008,956 Depreciation and amortisation 32,393,735 27,634,965 4,788,910 4,407,693 Doubtful accounts 2,328,570 30,171,581 2,258,806 8,705,241 Loss on foreign exchange rate - 16,291,320 - 16,180,513 Loss from disposal of investment in subsidiary - - 12,921,587 - Annual Report 2015 235
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SCI Annual Report 2015

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