Flujo de caja Libre

provide service of Company’s port (the ad hoc pier being used for the Company’s business only) for the customers of Rayong Bulk Terminal Co.,Ltd. (RBT) for another 1 year from 1 November 2012 in order to solve the problem on the congestion of goods ship at Map Ta Phut Industrial Port in accordance with government policy. Board of IEAT approved the extension of period of time for another 1 year from 1 October 2015 to 30 September 2016 or until the port of RBT could be open, but not exceeding 1 year. This would be an additional source of income generated from the Company’s existing property.

Marketing and Competition 1.Chemical Fertilizer

The Company had the marketing plan and sale plan. The Company’s target group were the sale agents, agricultural cooperatives, agricultural state agencies, industrial factories and fertilizer blending factories. Firstly, the Company would contact the fertilizer sale agents and prime buyers and simultaneously acquired the new fertilizer sale agents.

The Company would consider the world market price and selling price of competitors as the guideline in fixing the selling price. There would be the additional discount as appropriate according to the market condition in each period of time and each area in order to motivate the customers to purchase the Company’s products.

2.Gypsum Sale

For the past period of time, the Company was able to sell the gypsum approximately 2,500 tons per month on average. Moreover, the Company would also acquire other gypsum purchasers. However, the main obstruction of gypsum sale was the transportation expense which was quite high when compared with the gypsum value. Further, there might be the improvement of some gypsum qualifications in order that the gypsum qualifications would be appropriate to be used in industrial sector.

3. Sale of Ammonia and Sulfuric Acid and Storage tank Service

Ammonia was the basic raw material used in various industries, for instance, chemical industry, metal industry, cool tissue, etc. The ammonia price in world market increased according to the oil price and natural gas. As a result, the selling price in country had increased. However, the Company had the advantages in having the large storage tanks, pier including the standard imported equipment, as a result, the operating cost was low. Moreover, due to the growth of chemical industry, rubber and plastic, the demand of ammonia had increased and the Company was still able to further compete with others in this industry.

Page 7/16 according to the manufacturing process, which were, the manufacture from the sulfuric acid burning and the by- product of ore smelting. The competition in market depended on the manufacturing volume of the latter manufacturer. If the manufacturers could produce the sulfuric acid with their highest manufacturing capacity, the product would flood in country’s market. Therefore, the product must be exported to foreign countries. 4.Warehouse Service

The Company’s target customers were the logistics business operators and the import/export agent companies who needed to use the warehouse area for the import and the export. In this connection, the Company forecasted that there were other customers who operate the similar businesses operators who were interested in using the Company’s warehouse service.

The Company would collect the warehouse service charge according to the actually used area. The service charge rate would adjust according to the appropriateness of market condition in such period of time, etc.

5.Pier Service

The Company’s pier service could be provided to the customers of Rayong Bulk Terminal Co.,Ltd. (RBT) who were the customers in Map Ta Phut Industrial Estate and the bulk cargo, for instance, the hot rolled steel sheet, cold rolled steel sheet, H-BEAM steel. Currently, Board of IEAT approved the extension of period of time for another 1 year from 1 October 2015 to 30 September 2016 or until the port of RBT could be open, but not exceeding 1 year.

Providing of Product or Service 1.Chemical Fertilizer

With regard to the straight fertilizer and compounded fertilizer, the Company would mainly import them from foreign countries. However, the Company would import the raw material from the country and foreign countries, depending on the raw material volume and expenses on the order of each time. The Company had the policy to order the raw material from various manufacturers in order to reduce the risk from raw material shortage and in order that the raw material would have the quality with appropriate price.

2.Gypsum Sale

Gypsum was the by-product of the manufacture of compounded fertilizer in the past. It was stored on the Company’s factory floor in Rayong Province. The Company had sold the gypsum to customers in agricultural sector and industrial sector.

3.Sale of Ammonia and Sulfuric Acid

The Company would import ammonia and sulfuric acid to be sold to the domestic country and also provided service of products transport via pipeline and storage tank to customers.

4. Storage tank Service

The Company provided the service of warehouse vacant area to the customers who needed to utilize such area for the goods storage. Accordingly, the service generated more income for the Company.

5. Providing of Company’s port service

As the Company could use the Company’s current pier in order to support and to provide service to the customers of Rayong Bulk Terminal Co.,Ltd. (RBT). In addition, the Company was approved by the Board of Industrial Estate Authority of Thailand (“Board of IEAT”) to provide service of Company’s port for another 1 year (from 1 November 2015 to 30 September 2016) or until the port of RBT could be open, but not exceeding 1 year. This would be an additional source of income for the Company.

Page 8/16 Board of Directors Name List as of 30 December 2015

Board of Directors Name List Position

1. Mr.Wisanu Niwesmarin Chairman/Independent Director

2. Mr.Nattaphob Ratanasuwantawee Vice Chairman/Chairman of Executive Board/Managing Director

3. Mrs.Bongkot Rungkornpaisarn Director

4. Mr.Wiboon Rasmeepaisarn Director

5. Mr.Yongyos Palanitisena Director

6. Mr.Supakij Dulyapitch Director

7. Mr.Kijja Samunyahiran Director

8. Mr.Nattaphong Ratanasuwantawee Director

9. Mrs.Sunee Sornchaithanasuk Independent Director

10. Mr.Seri Wongmonta Chairman of Audit Committee

11. Mr.Sumit Petcharapiratch Audit Committee and Independent Director

12. Mrs.Aree Termwattanapakdee Audit Committee and Independent Director

The directors with authority to sign on behalf of the Company were as follwos:- 1. Mr.Nattaphob Ratanasuwantawee jointly signs with Mr.Yongyos Palanitisena or Mr.Supakij

Dulyapitch, altogether two persons together with the corporate seal affixed;

2. Mrs.Bongkot Rungkornpaisarn and Mr.Kijja Samunyahiran jointly signs with Mr.Yongyos Palanitisena or Mr.Supakij Dulyapitch, altogether three persons together with the corporate seal affixed;

Name list of top 10 shareholders shareholders as of 18 March 2016

Name list of shareholders

Before allocation

as of 18 March 2016 After allocation Number of shares % Number of shares % 1. Ratanasuwantawee Group 3,068,805,014 45.59% 4,836,911,249 56.91%

1.1 Mr.Nattaphob Ratanasuwantawee 2,968,805,014 44.11% 2,968,805,014 34.93%

1.2 SC Carrier Co.,Ltd. 100,000,000 1.49% 100,000,000 1.18%

1.3 C&A - 0.00% 1,768,106,235 20.80%

2. Interspec Global Co.,Ltd. 1,375,000,000 20.43% 1,375,000,000 16.18%

3. Mr.Pittayakorn Naothaworn 750,000,000 11.14% 750,000,000 8.82%

4. Mr.Asia Pukhunanun 220,000,000 3.27% 220,000,000 2.59%

5. Mr.Pradchaya Sermsuksakulchai 220,000,000 3.27% 220,000,000 2.59%

6. Mr.Wichai Thongthang 200,000,000 2.97% 200,000,000 2.35%

Page 9/16 Number of shares % Number of shares % 8. Chatpimonkul Family 243,166,650 3.61% 243,166,650 2.86% 8.1 Mr.Direk Chatpimonkul 104,000,000 1.55% 104,000,000 1.22% 8.2 Mr.Somkait Chatpimonkul 50,000,000 0.74% 50,000,000 0.59% 8.3 Mr.Somchai Chatpimonkul 50,000,000 0.74% 50,000,000 0.59% 8.4 Ms.Apinya Chatpimonkul 39,166,650 0.58% 39,166,650 0.46% 9. Chaikunngamdee Family 120,000,000 1.78% 120,000,000 1.41% 9.1 Mr.Thanis Chaikunngamdee 84,000,000 1.25% 84,000,000 0.99% 9.2 Mr.Wichai Chaikunngamdee 20,000,000 0.30% 20,000,000 0.24% 9.3 Mrs.Thapana Chaikunngamdee 16,000,000 0.24% 16,000,000 0.19% 10. Other shareholders 343,274,403 5.10% 343,274,403 4.04% Grand total 6,730,589,515 100.00% 8,498,695,750 100.00%

Financial Status and Operating Result Financial Status Statements

Particulars (Unit : Thousand Baht)

31 December 2013 _% 31 December 2014 _% 31 December 2015 _%

(Audited) (Audited) (Audited)

ASSETS

CURENT ASSETS

Cash and cash equivalents 8,737 0.88 10,385 1.12 27,817 7.08

Restricted deposits with bank _{-Legal Execution Dept.} 5,500 0.56 5,499 0.59 5,499 1.40

Trade accounts receivable and other

receivables

- related companies-net 11,570 1.17 7,322 0.79 32,548 8.28

- general customers-net 6,497 0.66 5,527 0.59 6,231 1.59

Inventories – net 51,473 5.20 118,796 12.76 131,684 33.52

Advances for land rental 17,891 1.81 17,675 1.90 17,458 4.44

Advances for goods - 0.00 9,687 1.04 2,565 0.65

Income tax withheld at sources 8,292 0.84 7,475 0.80 7,102 1.81

Refundable value asses tax 5,508 0.56 5,479 0.59 5,480 1.39

Other current assets 45,628 4.61 3,303 0.35 3,137 0.80

Assets of terminated operation - 0.00 - 0.00 51,668 13.15

Total Current Assets

161,096 16.26 191,148 20.53 291,189 74.11