AIT : Annual Report 2009

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Annual Report 2009

Transcript of AIT : Annual Report 2009

  • SET Award / Summary of Financial and Operational Results

    / Total Revenues / Net Profit

    ( : )

    The Companys Financial Statements

    Financial Results 2552/2009 2551/2008 2550/2007

    Total Assets 1,944.26 1,691.49 1,269.42 Total Liabilities 913.79 813.97 459.77 Total Shareholders Equity 1,030.47 877.52 809.65 Total Revenues 3,876.51 3,324.86 1,646.60 Total Expenses 3,444.26 2,998.57 1,482.11 Net Profit 311.04 217.87 94.81 () Basic Earning per share (Baht) 5.16 3.63 1.58 () Diluted Earnings per share (Baht) 5.04 3.58 1.56 () Total Number of Employees (persons) 246 245 227

    Financial Ratios 2552/2009 2551/2008 2550/2007

    () Liquidity Ratio (Times) 2.00 1.89 2.12 (%) Gross Profit Margin Ratio (%) 23.12 21.36 25.94 (%) Net Profit Margin (%) 8.02 6.55 5.76 () 0.89 0.93 0.57Debt to Equity Ratio (Times)

    (Unit : Mb.)

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    Board of Directors 6Executive Board 7Message from the Chairman of the Board

    of Directors and the President 8Report of the Audit Committee 10Details of the Companys Management 12Change in Directors Shareholding Report for

    the Year 2009 18Details Position Titles of Directors and Managements 19Details about Companys Securities 20General Information of the Company and Its

    Subsidiaries 21Major Shareholders 22Dividend Policy & Significant Events in 2009 23

    Get to Know the Business of Advanced

    Information Technology Public Company Limited 24Competition in the Industry 29Risk Factors 32Management Structure 35Corporate Governance Policy 43Use of Inside Information 50Internal Control and Internal Audit 52Related Transactions 53Board of Directors Responsibility for

    Financial Reporting 55Auditors Report & Financial Statement 56Relationship with Investors 100Other References 101Corporate Social Responsibility : CSR 102

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  • Annual Report 20092

    We are committed to continuouslyimprove the way telecommunication

    technology is used

    We keep innovating the way networks aredesigned and implemented.

    Annual Report 20092

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    Connect EverythingDeveloping borderless networks

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  • Annual Report 20094

    Connect Everyone

    Understand every customers needs to ensurehighest level of satisfaction

    Annual Report 20094

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    Connect to the Communityand Environment

    Contribute towards the societys betterment

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  • Annual Report 20096

    Board of Directors

    Mr. Thana ChaiprasitChairman of the Board

    Mr. Pongtep PolanunVice Chairman of the Board

    Independent DirectorAudit Committee

    Mr. Kittisak SopchokchaiDirector

    Mr. Suraporn RaktaprajitDirector

    Mr. Chatchai YenbamroongIndependent Director

    Mr. Kijja LaoboonchaiDirector

    Mr. Chodiwat DuntanasarnDirector

    Mr. Pisak CharudilakaDirector

    Mr. Chokechai TanpoonsinthanaChairman of the Audit Committee

    Independent Director

    Mr. Voravit WattanakuljarusCompany Secretary

    Mr. Sripop SarasasIndependent DirectorAudit Committee

    Mr. Siripong OontornpanPresidentDirector

    Annual Report 20096

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    Executive Board

    Mr. Siripong OontornpanPresident

    Mr. Kijja LaoboonchaiExecutive Senior Vice President - Sales and Marketing

    Mr. Suraporn RaktaprajitExecutive Senior Vice President - Finance

    Mr. Asawin KangwolkijExecutive Senior Vice President - Corporate Strategy

    Mr. Veerachai ChandranipapongseExecutive Senior Vice President - Customer Service

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  • Annual Report 20098

    Mr. Thana ChaiprasitChairman of the Board

    Mr. Siripong OontornpanPresident

    Message from the Chairman of the Boardof Directors and the President

    Dear Shareholders,

    Subsequent to the outburst of the sub-prime mortgage crisis in theUnited States or the hamburger crisis which created a global economicdownturn and the Dubai Worlds financial crisis of which the impact on worldeconomy is still indefinite, 2009 turned out to be the year that thegovernments of various countries realized the importance of the economiccrisis. Series of measures were announced to seriously tackle the effects onan ongoing basis. The situation prompted many countries to undertake theirown stimulus program starting in 2009, particularly a huge injection ofgovernment spending to push the economy towards higher employment andincome which will in turn resulted in spending and money circulation in thesystem. Similarly, in Thailand the government has come up with different formsof economic stimulus plan, including Strong Thailand Project worth 1.56 trillionBaht. Among other initiatives, such program aims to help near-term economicrecovery to return to normal or at least not worst off.

    The economic stimulus packages announced by various countries aroundthe world including Thailands have had a positive impact on Thai Economy,particularly in the forth quarter of last year which also indicated an improvingtrend for 2010. Thai Economy should benefit from the stimulus plan if thegovernment continues to carry out the proposed measures by expediting thebudget disbursement for projects under Strong Thailand Policy to get resultsfaster. Hence, Thai Economy is supposed to return to normal or close tonormal in 2010. Nonetheless, private investment is still at high risk from theeffect of world economic fluctuations on Thai Economy. Besides, no imminentend is in sight to the domestic political conflict, the causes of governmentinstability.

    Advanced Information Technology Public Company Limited has beenaware of such circumstance and therefore managed our business with utmostcautious and wisdom. Marketing-wise, the Company emphasizes on thegovernment sector, which has low risk and carries on large budgets for variousmega projects, especially for projects under Strong Thailand Policy that willbecome more apparent this year. As a consequence, the Company was able tosuccessfully survive through economic crisis and even generate performancegrowth as targeted both in terms of revenue and profit. In 2009, the Companyreported total revenues of 3,876.51 million Baht, an increase of 551.65 millionBaht (16.59%) from 2008s total revenues of 3,324.86 million Baht.

    Annual Report 20098

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    The net profit in 2009 was 311.04 million Baht, an increase of 42.76%compared to 217.87 million Baht in 2008. The earnings per share in 2009equaled to 5.16 Baht, an increase of 42% from 3.63 Baht in 2008. Meanwhilethe Company has backlog contracts with undelivered sales or services as at 31December 2009 of 1,696 million Baht, comparing to 904 million Baht in 2008.Last year, the Company was selected as the winner of the Best PerformanceAwards at the SET Awards 2009 organized by the Stock Exchange of Thailand.

    As for the year 2010, economic still plays an important role on theCompanys operating performance. Nonetheless, taking into considerationcontinuous change in the technology coupled with the governments approvedbudget and clear economic stimulus policy, these factors should produce apositive impact on the operating performance of the Company as major part ofthe revenue derives from the government sector. Besides, the Company hasbacklog revenues to realize this year. The Company is thus confident to seegrowth in the operating performance this year.

    In terms of corporate governance, the Company has always beenemphasizing on the importance of such principle. The Company stronglybelieves that good governance relies on good management system,transparency and responsibility concerning various stakeholders, includingshareholders, investors and customers. Clear roles and responsibilities of eachcommittee were established in accordance with the Stock Exchange of Thailandsguidelines. Moreover, the Company has fine-tuned a framework in which thecompany uses to conduct shareholders meetings to ensure that shareholdersare sufficiently informed with accurate information.

    On behalf of the Chairman of the Board of Directors and the President, wewould like to express our sincere appreciation towards confidence and supportfrom shareholders, investors, financial institutions, strategic partners andcustomers as well as the management team and every employee for theirdedication to the Company. Their wisdom, contribution, patience and honestyare revealed for success of the Company. The Company is making a strongcommitment to manage the business in a professional manner for sustainablegrowth based on good corporate governance principle to res