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Annual Report 2020 Index International Group Public Company Limited

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ANNUAL REPORT 2020 INDEX INTERNATIONAL GROUP PUBLIC COMPANY LIMITED TOGETHER FOR THE BETTER OPENING CEREMONY OF "THE FIRST DAY OF TRADING IN THE MAI STOCK EXCHANGE" INDEX INTERNATIONAL GROUP PUBLIC COMPANY LIMITED on Tuesday, 22 December 2020, 9:00 a.m. - 10: 20 a.m. at Sukree Kaewcharoen Auditorium, Building B, 3rd Floor, Stock Exchange of Thailand. ANNUAL REPORT 2020 INDEX INTERNATIONAL GROUP PUBLIC COMPANY LIMITED 01 "Think and Work Successfully" with the commitment to develop engineering progress and customers' impression and move forward to international standards. ANNUAL REPORT 2020 02 INDEX INTERNATIONAL GROUP PUBLIC COMPANY LIMITED PCL. 38 YEARS OF PRIDE CONTENTS 05 Vision & Mission 06 Messages from the Chairman of the Board of Directors 08 Message from the Chairman of the Executive Committee and the Chief Executive Officer 10 Board of Directors and Management Team 16 Organization Chart 17 General Information 18 Significant Financial Data 20 Policy and Overview of Business Operation 27 Nature of Business 48 Risk Factors 51 Assets used for Business Operations 53 Legal Disputes 54 Information on Securities and Shareholders 56 Management Structure 70 Corporate Governance 100 Corporate Social Responsibility 108 Internal Control and Risk Management 110 Related Party Transaction 118 Significant Financial Information 128 Management Discussion and Analysis 137 Report on the Board of Directors’ Responsibilites for the Financial Statements 138 Report on Performances of Audit Committee for the Year 2020 141 Independent Auditor’s Report 146 Financial Statements ANNUAL REPORT 2020 04 INDEX INTERNATIONAL GROUP PUBLIC COMPANY LIMITED Integrity & Innovation Infrastructure Development Engineering Experience ANNUAL REPORT 2020 INDEX INTERNATIONAL GROUP PUBLIC COMPANY LIMITED 05 VISION It is a leading engineering consulting company and a leader in the business of design and construction for the investment in infrastructures, public utilities, and real estate with comprehensive services. It operates its business with the good governance system to employers, shareholders and employees, and also develops the organization to be a learning organization in order to increase the competency of personnel. MISSION DEVELOPING THE EXPANDING CREATING WORKS ORGANIZATION BUSINESS that are beneficial to towards engineering in terms of infrastructure employers and society and excellence and project and real estate being responsible for management development with the community and innovation quality works environment CONTINUOUSLY ENSURING SUPPORTING the quality of work life of all the development of employees at all levels in the employees’ capabilities organization for professional works ANNUAL REPORT 2020 06 INDEX INTERNATIONAL GROUP PUBLIC COMPANY LIMITED MESSAGES FROM THE CHAIRMAN OF THE BOARD OF DIRECTORS We would like to confirm our intention to lead the Company to be the leading architectural and engineering company in various fields with quality and transparency and aim to be the company with good corporate governance. Index International Group Public Company Limited cities, and renewable energy and oil depots, including was established to provide engineering consultation other projects in consistent with the development and services in terms of study, survey and feasibility study of progress of the nation. projects, conceptual design and detailed design, project management and construction supervision, and design- The year 2020 was an important year because the build services to both public and private sectors by a Company was listed on the Market for Alternative team of experienced and skilled engineers and architects. Investment (MAI), which was an important step in creating business opportunities and fundraising. This Over 38 years, the Company has operated its business also made the Company to be reliable and widely known with integrity and also built confidence. We are proud by domestic and international investors and the general to be a part of the country's economic development public. Although it was the period that Thailand and through large-scale projects of public and private the world had encountered with the Coronavirus 2019 sectors. We developed public utilities system and outbreak affecting all business sectors, the Company still infrastructure in terms of transportation, road network, operated its business with commitment in accordance public transportation system, and air, water and pipeline with good corporate governance principles and the transportation, and also developed logistics system emphasis on integrity and morality in business operation, management standards which facilitate and enhance along with the awareness of the importance of corporate the efficiency of transportation, development of main social and environmental responsibility. ANNUAL REPORT 2020 INDEX INTERNATIONAL GROUP PUBLIC COMPANY LIMITED 07 On behalf of the Board of Directors of Index International Group Public Company Limited, I would like to thank all shareholders, customers, business partners, sponsors of the Company, executives, and employees on this occasion and would like to confirm our intention to lead the Company to be the leading architectural and engineering company in various fields with quality and transparency and aim to be the company with good corporate governance according to international standards in order to further create satisfaction and the highest reliability for shareholders and customers. On behalf of the Board of Directors General Wuttinun Leelayudth Chairman of the Board of Directors ANNUAL REPORT 2020 08 INDEX INTERNATIONAL GROUP PUBLIC COMPANY LIMITED MESSAGE FROM THE CHAIRMAN OF THE EXECUTIVE COMMITTEE AND THE CHIEF EXECUTIVE OFFICER The Company is ready to drive any operations according to the plans by selecting projects that will be beneficial to the society and the nation, integrating expertise in providing services to customers with its full potential, integrity, and honesty based on the good governance principles while contributing to the community, social and environmental development. Index International Group Public Company Limited is on hand, pending for revenue recognition in the following a leading engineering consultation company which has years (Backlog) in the amount of approximately 359.86 involved in the design and project management to develop million Baht. public utilities system and infrastructure of the government sector. With experiences in more than 300 projects, the Regarding the new projects signed by the Company in 2020, Company has created effective works which gain the there were 9 projects worth over 517 million Baht, including; confidence and trust from domestic and international • Project of aviation fuel storage tank design and customers in the public and private sectors. The success over construction (T-2306) with related system equipment 38 years is the proof that the Company has high professional at Suvarnabhumi Aviation Fuel Storage Station knowledge and expertise in architecture and engineering in • Project of the 4-lane highway survey and design, Phanat all areas, which is the strength of the Company. In addition, Nikhom bypass (Northern part) the Company is also committed to developing its competency • Project of land leveling supervision for the construction in providing integrated services while building business of the taxiway 1 and the apron of the Aircraft network alliances to strengthen its strength, provide more Maintenance Center, U-Tapao Airport comprehensive services, and increase the competitiveness • Project of economic, engineering and environmental of the organization. impact feasibility study for the construction of the connected highway network, Udon Thani - Bueng Kan The Company's operating results in 2020 increased which Province was close to the specified goal. This was the impact from • Project of inspection and certification of conditions of the crisis of the coronavirus 2019 outbreak encountered by the Second Stage Expressway, A, B and C Parts the world. Especially in the first half of the year 2020, the • Consultation services for inspecting detailed design of Company was adversely affected by the economic slowdown. Thailand-China Railway Cooperation Project, Bangkok The sudden decrease in demand in the industrial sector - Nong Khai Section (Phase 2) resulted in the delay of implementation of investment projects • Feasibility study of the construction of Bueng Kan Airport in any public utilities system, including construction projects • Project of conceptual design and cost estimation for the of the government sector. In 2020, the Company had the construction of the northern oil pipeline transportation total revenue of 576.81 million Baht, the total expenses of system (Saraburi - Ang Thong) 559.03 million Baht, the total assets of 725.08 million Baht, • Consultation services for detailed design of Thailand - and the total liabilities of 364.82 million Baht. The Company China Railway Cooperation Project, Bangkok - Nong was able to earn the net profit of 17.78 million Baht. At the Khai Section (Phase 2 Bangkok - Nong Khai Section) end of the year 2020, the Company had the amount of work ANNUAL REPORT 2020 INDEX INTERNATIONAL GROUP PUBLIC COMPANY LIMITED 09 Regarding the large-scale projects implemented by the Company in the previous year, the implementation of many projects has progressed and is nearly completed, such as • Project of management consultation for MRT blue line extension project • Design-build project of Phichit oil depot • Design-build project
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