SCI Annual Report 2015

More documents

Recommendations

Info

SCI Electric Public Company Limited Unit: Million Baht Liabilities under finance lease FY2015 FY2014 Increased (Decreased) Amount Amount Amount % 17.76 12.35 5.41 43.80 Less Current portion (6.11) (3.71) (2.40) 64.64 Liabilities under finance lease agreements 11.65 8.64 3.01 34.86 SHAREHOLDERS’ EQUITY Total equity as at 31 December 2015 of Baht 1,859.61 million was increased by Baht 1,233.13 million or increased 196.83% from as at 31 December 2014, Baht 626.48 million. The shareholder was continuous increased from the continuous profit from the operation and the issued of common share during the year 2015 to restructure the company structure and expand the business. The first time of issued the common share, the Company increased the share capital from Baht 165.00 million to Baht 562.50 million which approved at the General Shareholders Meeting No. 1/2558 was on 16 March 2015. At the same meeting, the shareholders had a resolution to approve for dividend payment from retained earnings as at 31 December 2014 to the shareholders of 1.65 million shares at Baht 267.67 per share, totaling of Baht 441.67 million. Such dividend paid to the shareholders during March and April 2015 and allocate for the additional legal reserve amounting to Baht 15.68 million. The second time of issue the common share according to the Extraordinary General Shareholders Meeting No. 1/2558 on 22 April 2015, the shareholders had the resolutions to increase the registered share capital from Baht 562.50 million to Baht 750.00 million by increase the registered share capital of 187.50 million shares at par value of Baht 1 to distribute to public during 5 October 2015 to 7 October 2015. Premium share of Baht 879.04 million due to the fact that 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, presented net with share premium. Legal reserve increased Baht 26.48 million from set aside at least 5% of its net profit until the reserve is not less than 10% of the registered capital. CAPITAL ADEQUACY Upon analyzing the source of capital, it can be seen that the Group generate its capital from overdraft account, shortterm and long-term borrowing from financial institutions, including from shareholders. It is believed by the management level that the Company and subsidiaries have capital adequacy. If, however, the company or subsidiaries is experiencing the lack of capital, both can request for financial supports through funds or intercompany loans. Optimal Capital Structure As at December 31, 2015, Debt to Equity Ratio is 0.56 which is lower than the year 2014 due to the decreased in total liabilities by 19.42%, resulting from the decreased in short-term loan from financial institution and shareholders’ equity increased by 196.83% due to issued of common share of Baht 585.00 million and from premium share of Baht 879.04 million. According to the conditions stipulated in the loan agreements, Tad Slen Power Limited is required to comply with certain terms and conditions; for examples, maintaining of a debt to equity ratio not less than 1.1:1 and maintaining a ratio of debt coverage not over 2:1. As at 31 December 2015, the subsidiary made a reclassification of long-term loan to “Current portion of long-term loans from financial institution” due to potential non-compliance of some financial ratios such as the debt-service coverage ratio. However, the financial institution agreed to waive the debt covenant for the financial statement of the year 2014 and considered for waive the debt covenant for the financial statement of the year 2015. 252
Potential Factors Affecting Future Business Operation or Financial Status The decreasing on revenue and profit after finished the PDSR project The service revenue of PDSR project has continuous decreased since the second quarter of the year 2015 until the present due to the project nearly closed. In the future, if the Lao government cannot find the source of fund, they will postpone or ceased the next phase of PDSR. It is the resulted to the Company not to receive the continuous the contract from the Lao government which it will affect to the revenue and profit. Uncertainty revenue from future project The Company have future plan to invest into the mega project such as PDSR phase 2 which it is on the negotiation process with the related parties. For the other investment, the Company plans to invest into the own factory to manufacture the steel structure for high voltage electric tower and telecom tower in Myanmar. The project is on process of settle a new company and start of infrastructure. All investment is significant effect to the revenue and profit in the future. Annual Report 2015 253
Page 2 and 3:
ข้อมูลทางกา
Page 4 and 5:
สารจากประธา
Page 6 and 7:
ชื่อ นายสุเม
Page 8 and 9:
ชื่อ นางสาวอ
Page 10 and 11:
ชื่อ นายวิชั
Page 12 and 13:
บริษัท เอสซี
Page 14 and 15:
Page 16 and 17:
Page 18 and 19:
Page 20 and 21:
Page 22 and 23:
Page 24 and 25:
Page 26 and 27:
Page 28 and 29:
Page 30 and 31:
Page 32 and 33:
Page 34 and 35:
Page 36 and 37:
Page 38 and 39:
Page 40 and 41:
Page 42 and 43:
Page 44 and 45:
Page 46 and 47:
Page 48 and 49:
Page 50 and 51:
Page 52 and 53:
ความสัมพันธ
Page 54 and 55:
บุคคล/นิติบุ
Page 56 and 57:
Page 58 and 59:
Page 60 and 61:
Page 62 and 63:
Page 64 and 65:
Page 66 and 67:
Page 68 and 69:
Page 70 and 71:
Page 72 and 73:
Page 74 and 75:
Page 76 and 77:
Page 78 and 79:
Page 80 and 81:
Page 82 and 83:
Page 84 and 85:
Page 86 and 87:
Page 88 and 89:
Page 90 and 91:
Page 92 and 93:
Page 94 and 95:
Page 96 and 97:
Page 98 and 99:
Page 100 and 101:
Page 102 and 103:
Page 104 and 105:
Page 106 and 107:
Page 108 and 109:
Page 110 and 111:
Page 112 and 113:
Page 114 and 115:
Page 116 and 117:
Page 118 and 119:
Page 120 and 121:
Page 122 and 123:
Page 124 and 125:
Page 126 and 127:
Page 128 and 129:
Page 130 and 131:
SCI Electric Public Company Limited
Page 132 and 133:
Sci Electric Public Company Limited
Page 134 and 135:
Page 136 and 137:
Page 138 and 139:
Page 140 and 141:
Page 142 and 143:
Page 144 and 145:
Page 146 and 147:
Page 148 and 149:
Page 150 and 151:
Page 152 and 153:
Page 154 and 155:
Page 156 and 157:
Page 158 and 159:
Page 160 and 161:
Page 162 and 163:
Page 164 and 165:
Page 166 and 167:
Page 168 and 169:
Page 170 and 171:
Page 172 and 173:
Page 174 and 175:
Page 176 and 177:
Nature of Transaction Transaction v
Page 178 and 179:
Relationship - An executive directo
Page 180 and 181:
Page 182 and 183:
Page 184 and 185:
Page 186 and 187:
Page 188 and 189:
Page 190 and 191:
Page 192 and 193:
Page 194 and 195:
Page 196 and 197:
Page 198 and 199:
Page 200 and 201:
Page 202 and 203: SCI Electric Public Company Limited
Page 222 and 223: SCI ELECTRIC PUBLIC COMPANY LIMITED
show all

SCI Annual Report 2015

Create successful ePaper yourself

Delete template?

Save as template?