Somboon Advance Technology : Form 56-1 One Report 2022
March 17, 2023 at 11:53 am EDT
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Contents
Message of the Board of Directors
Vision and Mission
Company's General Information
Financial Highlight
Part 1
Business Operation
and Operating Results
012 1. Organizational structure and operation of the group of companies
032 2. Risk management
037 3. Business sustainability development
055 4. Management discussion
and analysis (MD&A)
064 5. General information and other material facts
Part 2
Part 3
Corporate Governance
Financial Statements
065 6. Corporate governance policy
126 Financial Statements
074 7. Corporate governance structure and material facts related to the board, subcommittees, executives, employees
and others
098 8. Corporate Governance Performance Report
120 9. Internal control and related party transactions
Attachments:
182 Attachment 1: Details of directors, executives, controlling persons, the person assigned to take the highest responsibility in Accounting and Finance, the person assigned to take direct responsibility for accounting supervision
Attachment 2: Details of the directors of subsidiaries
Attachment 3: Details of the Heads of the Internal Audit and Compliance
Attachment 4: Details of asset appraisal
Attachment 5: Corporate Governance Policy and Code of Conduct
Attachment 6: Audit and Governance Committee Report
Attachment 7: Audit of the environmental inventory for organizational carbon footprint assessment 2022
Somboon Advance Technology Public Company Limited has firmly grown for 60 years ("the Company"). The Company has learned along with continuous business development amidst many changes over the ages until now the Company has business restructure to be a holding company, mainly having income by holding shares in other companies. Currently the Company has operated business under the strategic plan to manufacture automotive part and agricultural products and expand to new businesses such as automation system and robot business. In 2022, the Company had joint venture with Taiwanese company and established Somboon Tron Energy Co., Ltd.to manufacture and assembly electric battery and assembly the electric vehicle such as electric bus, electric 3 wheeler, etc.
2022 is still a year of recovery from the covid-19 pandemic and there are unfavorable factors for global economic growth, such as the Russia-Ukraine War resulted in higher price of goods and raw material, especially in the energy sector continued to rise including lockdown prevention measurement from China Zero Covid policy, etc. Those problems are the main factor to impact the performance of the Company. The Company shall carefully adjust strategic plan, focus on the cost management and increase effectiveness by transforming the manufacture technology, applying automation system and improvement machinery, in order to save energy, reduce carbon dioxide and use renewable energy.
The Company has changed the operation system in parallel with innovation and technology development to carry forward in the manufacturing automotive part and agricultural machinery business including with the new business concurrently the readiness to human resource development to be "Smart People" to be a good and smart people in compliance with smart culture to keep commitment, create the customer trust, agility, respect to listen, create technology to support "Business Trust" and "Growth society" to develop the community to grow and friendly with the environment and have a better quality of life.
Gross Domestic Product ("GDP") in 2022 grew approximately 2.6%, 1.5% increasing from 2021 and the domestic vehicle production totaled 1.88 million vehicles increasing 11.7% from 2021. The global economy has resulted to slowdown the domestic economy, however, the operating results of the Company in 2022 had income totaled Baht 9,093 million with net profit of Baht 940 million, 1.4% decreasing from 2021.
On this occasion, the Board of Directors would like to thank all shareholders, partners, customers and business partners, including the executives, employees who have always supported the business operations for 60 years. The Company will continuously commit to carefully drive our business with good corporate governance, social and environment responsibility forward sustainable growth.
Message of the Board of Directors
Mr.Sansern Wongcha-um
Chairman of the Board
Ms. Napatsorn Kitaphanich
President
Attachments
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Somboon Advance Technology pcl published this content on 17 March 2023 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 17 March 2023 15:52:04 UTC.
Somboon Advance Technology Public Company Limited is a Thailand-based company that is engaged in the manufacturing of automotive parts. The Company's reportable segments include Axles and trunnion shafts, and Other auto parts. The Company's product includes axle and trunnion shafts. It operates through five subsidiaries, namely Somboon Malleable Iron Industrial Company Limited and International Casting Products Co., Ltd. is engaged in manufacturing auto part include products such as disc brake, drum brake and part of agriculture machinery; Somboon Forging Technology Company Limited is engaged auto part manufacturing from hot / cold forging process which is hub wheel; Bangkok Spring Industrial Company Limited that is engaged in manufacturing and sale of auto parts and rent of real estate, and Somboon Tron Energy Co., Ltd, which is engaged in Import, researching, analyzing , designing, developing and sale of electric car propulsion structures, electric cars and batteries.