Supalai: Annual Report 2009

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Annual Report 2009

Transcript of Supalai: Annual Report 2009

  • 01

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    2553

    ...

    Financial Highlights

    Message from President

    Audit Committee Report

    Organization Chart

    Board of Directors and Management

    Supalais Achievement

    Business Operations

    Capital Sturcture

    Trend of Thai Real Estate in 2010

    Quality System

    Risk Factors and Risk Management

    Corporate Governance

    Supalai...We Care for Thai Society

    Property Management

    Policies and Strategies of Human Resource Department

    Connected Transactions

    Operational Result

    Auditors Report & Consolidated Financial Statements

    General Information

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  • 02

    / Financial Data (Unit : Million Baht) 2009 2008 2007 2006 2005 1 Contractual Sales 1 12,166 9,072 7,080 7,193 7,381 Revenues from Sales of Real Estate 9,438 5,998 4,796 4,518 3,357 Total Revenues 9,690 6,242 4,977 4,694 3,504 Income before Corporate income tax 3,584 1,778 1,214 1,390 1,010 Net Income 2,476 1,069 816 880 831 Total Assets 15,190 13,473 10,623 8,311 7,373 Total Liabilities 7,368 8,183 5,833 3,847 3,754 Shareholders Equity 7,821 5,290 4,790 4,464 3,620 () No. of Outstanding Shares (Million Shares) 1,716.55 1,716.55 1,601.82 1,570.47 1,246.15 () Earnings per Share (Baht) 1.54 0.65 0.51 0.60 0.70 () Par Value (Baht) 1.00 1.00 1.00 1.00 1.00 () Book Value per Share (Baht) 4.56 3.08 2.99 2.84 2.90 () Net Asset Value per Share (Baht) 7.38 5.70 5.63 5.33 4.39 () Dividend per Shares (Baht) 0.60 0.30 0.25 0.27 0.25

    : 1 Remark : 1 The company only

    / Financial Ratio 2009 2008 2007 2006 2005 () Gross Profit Margin From Sales of Real Estate (%) 44 39 40 42 43 () Net Profit Margin (%) 26 17 16 19 24 () Return on Equity (%) 32 20 17 20 23 () Return on Total Assets (%) 16 8 8 11 11 () Total Debt to Equity (Times) 0.94 1.55 1.22 0.86 1.04 () Net Gearing (Times) 0.37 0.94 0.72 0.48 0.67 () Dividend Yield (%) 9.38 15.31 6.94 7.71 8.22

    2553 21 2553 14.30 . 33 1011 3 10120 : 0.60 : 18 2553

    SIGNIFICANT INFORMATION FOR SHAREHOLDERS

    The Annual General Shareholders Meeting of year 2010

    April 21,2010 at 2.30 p.m.

    Supalai Grand Tower Building at Meeting Room, 33rd Floor,1011 Rama 3 Road,

    Chongnonsee District, Yannawa, Bangkok 10120.

    Dividend Payment : 0.60 Baht per share

    Dividend Payment Date : 18 May 2010

  • 03

    FINANCIAL HIGHLIGHTS

    (Gross Profit Margin from Sales of Real Estate) (Net Profit Margin)

    (Return to Equity) (Return to Total Assets)

    (Total Dept to Equity) (Net Gearing)

    Dividend Per Share and Dividend Yield

    % 44

    39 40

    26

    17 16

    42 43

    05

    1015202530354045

    2009 2008 2007 2006 2005

    19

    24

    ()Dividend Per Share (Baht)

    Dividend Yield

    0.00

    0.10

    0.20

    0.30

    0.40

    0.50

    0.60

    0.70

    2009 2008 2007 2006 2005

    ( / Times)

    0.94

    1.55

    1.22

    0.86

    1.04

    00.20.40.60.8

    11.21.41.61.8

    2009 2008 2007 2006 2005

    0.67

    %32

    2017

    16

    8 8

    2023

    0

    5

    10

    15

    20

    25

    30

    35

    11

    2009 2008 2007 2006 2005

    11

    0.72

    0.48

    0.94

    0.37

    0%

    3%

    6%

    9%

    12%

    15%

    18%

    (Gross Profit Margin from Sales of Real Estate)

    (Net Profit Margin)

    (Return to Equity)

    (Return to Total Assets)

    (Total Dept to Equity)

    (Net Gearing)

    9.38%

    15.31%

    6.94%7.71% 8.22%

    0.250.270.25

    0.30

    0.60

  • 2552 1 2 2552 . 12,800 42% 2551 9,012 9,690 55% 2551 6,242 2552 2,476 132% 2551 1,069 575 6% 5% 546 9% 2552

    55% . - 5 . . Living in Thailand Award of Excellence 2008 Readers Choice Award Best Designed Property Living in Thailand, 2552 5 2553 2552 (Urban Design Awards 2009) 2553 ISO 9001 : 2008

    ( )

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    2552 1 2

  • 05

    MESSAGE FROM PRESIDENT

    Thai real estate market in early 2009,

    from first to second quarter, faced a number of

    obstacles preventing the growth of business

    sector. Such obstacles comprised of political

    friction and world economy. As a result, the

    market sentiment of general public to purchase

    was low and thus slowed down their decision

    to purchase houses. However, from May onward

    the situation began to improve. Low interest rate

    coupling with the governments policy to stimu-

    late the economy through real estate sector

    helped stimulating buyers affordability, as well as

    their increasing confidence in political and

    economic situation.

    In 2009, Supalai Public Company Limited

    had a record breaking year in terms of sales

    contracted, recognized revenue, as well as profit.

    The sales figure was Baht 12,800 million, an

    increase of 42% when compared to that of 2008

    in which the companys sales amount was Baht

    9,012 million. With regard to the total revenue of

    the Group, it was Baht 9,690 million, an increase

    of 55% when compared to that of 2008 where

    the total revenue was Baht 6,242 million. The net

    profit of 2009 was Baht 2,476 million, an increase

    of 132% from that of 2008 where the total net

    profit was Baht 1,069 million. Additionally, the

    Company could limit the expense to Baht 575

    million or 6%, or an increase of 5% when com-

    pared to that of the previous year where the

    amount was 546 million baht or 9% of the total

    revenue, while the total revenue of 2009 grew by

    55%. Moreover, Supalai has also been a listed

    company on the Stock Exchange of Thailand in

    the group of real estate companies that has the

    best 5-year backtrack records.

    The outstanding figures mentioned

    above are results of the Companys continual

    development of products and services as well as

    the increasing number of projects. This led to

    reduced investment cost per unit and ability

    to sell to the clients at a cheaper price but with

    higher quality, and thus contributed to Supalais

    growing popularity among consumers.

    The company has also won many awards

    which reflect the quality of our products and

    services as they have been continually developed.

    Some of the awards are, for example, the special

    award of the Living in Thailand Award of

    Excellence 2008, the Readers Choice Award in

    the category of Best Designed Property from

    Living in Thailand Magazine, the Label for

    Energy Conservation Building 2009 for 5 house

    designs from the Department of Alternative

    Energy Development and Efficiency, and early in

    2010, the Company received honorable mention

    from the Urban Design Awards 2009 for

    professional and corporate level in the category

    of Master Plan for a Grouping of Building for

    Supalai Casa Riva Project from the Thai Urban

    Designers Association.

    In 2010, the Company is planning to

    launch many new projects by extending to other

    provinces such as Chiangmai, as well as many new

    projects for upper and lower target groups in

    Bangkok and its vicinities in suitable locations.

    The Company has also adopted a vision of being

    The Leader in Real Estate Innovations and

    Value Creation to support future growth of the

    Company and to enter into international standard

    of ISO 9001: 2008 while contributing to Thai

    society and the environment to reinforce the

    policy of Supalaiwe care for Thai Society.

    (Mr.Prateep Tangmatitham)

    President

    t T t

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    5. 6. 7. 8. 9. 10. 2552 2552

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  • The board of directors of Supalai Public Company Limited at the 13/2005 meeting on 8 November 2005 appointed Audit Committee com-prising three independent directors as follows : 1. Mr.Prakit Pradipasen Chairman of the Audit Committee 2. Mr.Anant Gatepithaya Member of the Audit Committee 3. Mrs.Pikul Hanhathya Member of the Audit Committee The Audit Committee, delegated by the Companys board of directors, has the duties to support the board of directors managing the company. During 2009, the Audit Committee had 11 meetings the result can be summarized as follows: 1. Review the quarterly and annual finan-cial statements with the Finance and Accounting Department to ensure that the financial state-ments were accurate and conformed to Generally Accepted Accounting Principles (GAAP). The audit committee also assured that the company discloses information that could significantly effect the companys financial statements before they were filed with the Stock Exchange of Thailand and the Securities and Exchange Commission. 2. Attended meetings with the auditor to discuss the auditors comments on the auditing as well as questioned important financial infor-mation, internal control information, and the changes of accounting policy which could significantly affect the financial statements. 3. Followed up changes in