SOMBOON ADVANCE TECHNOLOGY Contents 4
6
Message of the Board of DirectorsVision and Mission
8
9
Company's General
InformationFinancial Highlight
Part 1 Business Operation and Operating Results | 1. Organizational structure and 11 operation of the group of companies 2. Risk management 42 3. Business sustainability development 51 4. Management discussion 69 and analysis (MD&A) 5. General information and other 82 material facts |
Part 2 Corporate Governance | 6. Corporate governance policy 85 7. Corporate governance structure 117 and material facts related to the board, subcommittees, executives, employees and others 8. Corporate governance 135 performance report 9. Internal control and related 174 party transactions |
Part 3
Financial Statements
183
Attachments
Attachment 1 | Details of directors, executives, controlling persons, | 236 |
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 | 256 |
Attachment 3 | Details of the Heads of the Internal Audit | 257 |
and Compliance | ||
Attachment 4 | Details of asset appraisal | 259 |
Attachment 5 | Corporate Governance Policy and Code of Conduct | 259 |
Attachment 6 | Audit and Governance Committee Report | 259 |
Attachment 7 | Audit of the environmental inventory for | 260 |
organizational carbon footprint assessment 2023 |
Mr. Sansern Wongcha-um
Ms. Napatsorn Kitaphanich
Chairman of the Board
President
Message of the Board of Directors
In the fiscal year 2023, Somboon Advance Technology Public Company Limited ("the Company") encountered a series of challenges amidst a backdrop of global economic uncertainties. Thailand's gradual economic recovery juxtaposed with ongoing geopolitical tensions, notably the unresolved conflicts in the Russia-Ukraine and Israeli-Palestinian regions, contributed to market volatility and heightened concerns over fluctuating product and raw material prices. Furthermore, the automotive sector witnessed a transformative shift towards electric vehicles, attracting new entrants and reshaping industry dynamics, thereby impacting automobile production within Thailand.
Against this backdrop, Thailand's Gross Domestic Product ("GDP") saw modest growth ofapproximately 1.9%, falling short of earlier projections. Notably, automobile production declined to 1.83 million vehicles,marking a 3% decrease from the previous year, divided into 717,424 units produced for domestic sale, a decrease of 19%, and 1,117,539 units produced for export, an increase of 12% from previous year. This reduction can be attributed to various factors, including intensified competition from imported electric vehicles and their encroachment on the domestic market share.
Despite these formidable challenges, the Company leveraged its over six-decade-long expertise and commendable financial performance executed a strategic plan aimed at sustaining sales in 2023 momentum while optimizing operational efficiency.
Initiatives such as technology-driven production
enhancements, including automation systems and machinery upgrades, alongside a concerted effort towards energy conservation and renewable resource utilization, underscored the Company's commitment to resilience and adaptation.
total income reaching
net profits
9,201
979
As a testament to these endeavors, the Company achieved commendable financial performance in 2023, with total income reaching Baht 9,201 million, reflecting a 1% increase over the previous year, and net profits totaling Baht 979 million, representing a 4% year-on-year rise.
MB. representing year-on-year rise
MB.
representing year-on-year rise
1%
4%
Moreover, in line with its forward-looking approach, the Company intensified its focus on innovation and technology, particularly within the automotive parts and agricultural machinery segments, while also venturing into new business domains. The establishment of Somboon Advance Agriculture Co., Ltd. ("SAA") exemplifies the Company's strategic pivot towards leveraging technological prowess to tap into burgeoning industries.
Beyond technological advancement, the Company remains steadfast in its commitment to nurturing a cadre of adept and conscientious professionals, or "Smart People," who follow the organizational culture in order to drive the organization towards "Business Trust" that is a stable and conducts business with efficiency and good quality. Concurrently, efforts to foster corporate governance and social responsibility initiatives, aimed at "Growth Society" cultivating environmentally sustainable communities and enhancing quality of life, underscore the Company's holistic approach to growth.
In expressing gratitude, the Board of Directors extends heartfelt appreciation to shareholders, partners, customers, and stakeholders, as well as the dedicated executives and employees whose unwavering support has been instrumental in navigating through challenges.
With a steadfast commitment to prudent business practices, social responsibility, and environmental stewardship, the Company remains steadfastly poised for sustainable growth despite prevailing uncertainties.
Vision and Mission
Vision
To be a trusted partner
with leading engineering products and solutions that harmonizes the use of advanced technology with social and environmental sustainability
Mission
Company's General Information
Company's Name
Somboon Advance Technology Public Company LimitedCompany Limited Business Holding company by investing and holding shares in other companies and having the policy for the main business such as automotive manufacturing, agricultural machinery and robot and automation system
Registered Capital 425,193,894 Baht
Paid-up Capital
425,193,894 Baht
Company's Registration 0107547000664
Head Office and Plant เ215 Moo 2, Debaratna Road, Tambol Bangchalong, Amphur Bangplee, Samutprakarn Province
Telephone 02-080-8123
Wedsitewww.satpcl.co.th
7/389 Moo 6 Tambol Mabyangporn, Amphur Pluakdaeng, Rayong Province
References
Securities Registrar
Thailand Securities Depository Company Limited
93, 14th Floor, The Stock Exchange of Thailand Building, Ratchadaphisek Road, Dindaeng, Bangkok 10400, Thailand
Telephone: 02-009-9999
Auditor
KPMG Phoomchai Audit Limited
Empire Tower 1 South Sathon Road, Yannawa Sub-District, Sathorn, Bangkok 10120, Thailand
Telephone: 02-677-2000
Financial Highlight
For the Fiscal year ended December 31
Balance Sheet (Thousand Baht)
2023 | 2022 | 2021 | |
1.00 | 1.00 | 1.00 | |
12.40 | 12.18 | 12.16 | |
1.71 | 1.54 | 1.59 | |
0 | 0 | 2,700,082 | |
1,102,980 | 1,015,761 | 3,305,578 | |
729,015 | 653,151 | 676,995 | |
1,040,247 | 1,001,441 | 1,624,015 | |
10,401,479 10,350,803 9,830,107 | 5,424,082 | 5,325,143 | 5,911,962 |
61,000 | 58,087 | 678,715 | |
150,915 | 144,776 | 743,172 | |
425,194 | 425,194 | 425,194 | |
5,273,167 | 5,180,367 | 5,168,790 | |
13.95% | 12.62% | 13.50% | |
1,195.84% | 1,115.58% | 155.91% | |
13.56% | 11.62% | 11.78% | |
66.26% | 64.15% | 24.81% | |
17.05 | 17.24 | 2.39 | |
13.77 | 13.69 | 1.66 | |
0.03 | 0.03 | 0.14 |
Stock Data
Par value (Baht) Book value (Baht) * Earning per share (Baht) *
Operating
Sales revenue Total income Net profitCurrent assets Total assets Current liabilities Total liabilities Paid-up capital Shareholders' equity
Financial Ratio
Returns on shareholders' equity (%)
Returns on fixed assets (%) Returns on assets (%) Gross profit (%)
Current assets ratio to items of current liabilities (times) Liquidity ratio to liabilities (times)
Debt ratio to shareholders' equity (times)
Attachments
- Original Link
- Original Document
- Permalink
Disclaimer
Somboon Advance Technology pcl published this content on 25 March 2024 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 25 March 2024 13:25:01 UTC.
