( Translation ) Table of Contents
Total Page:16
File Type:pdf, Size:1020Kb
( Translation ) Table of Contents Part 1 Business Overview ............................................................................................................................................................................. 1. Business Policy and Business Overview .......................................................................................................................................... 1 2. Business Overview ............................................................................................................................................................................. 6 3. Risk Factors ...................................................................................................................................................................................... 23 4. Major Assets in Business Operation ............................................................................................................................................. 277 5. Legal Disputes.................................................................................................................................................................................. 30 6. General Information and Other Key Information ............................................................................................................................ 311 Part 2 Management and Corporate Governance .......................................................................................................... 7. Securities information and shareholders ......................................................................................................................................... 36 8. Management Structure ..................................................................................................................................................................... 38 9. Corporate Governance Policy .......................................................................................................................................................... 46 10. Corporate Social Responsibilities .................................................................................................................................................. 71 11. Internal Control and Risk Management ......................................................................................................................................... 75 12. Related Party Transactions ............................................................................................................................................................ 78 Part 3 Financial Position and Operating Performance .................................................................................................. 13. Key Financial Information ........................................................................................................................................................... 800 14. Management Discussion and Analysis ....................................................................................................................................... 86 Part 4 Certification for the Correctness of Information ............................................................................................. 98 Attachment...................................................................................................................................................................... Attachment 1: Details of Directors, Executives, Controlling Persons, Corporate Secretary ........................................................... 1013 Attachment 2 Details about information of Directors and Executives of the Company and subsidiary companies ........................ 116 Attachment 3 Details about Internal Auditor ...................................................................................................................................... 117 Attachment 4 Details about appraisal value of assets.................................................................................................................... 118 Attachment 5 Other .......................................................................................................................................................................... 117 Part 1 Business Overview 1. Business Policy and Business Overview Principal Capital Public Company Limited (“Company”) was incorporated in 2000 under the name “Metrostar Property Company Limited to engage in property development business. Later in 2005 the Company was listed in the Stock Exchange of Thailand. In 2013 there was a change in shareholder and the Company was renamed as Principal Capital Public Company Limited and the major business is property development for rent with good quality project within the CBD area in respond to customers’ needs. It also offers full-service office building management services in term of sale, administration, accounting etc by the professional team with fairness and transparency. Apart from this, the Company also expands its business to software implementation service and business consultancy service. At present, the business of the Company and subsidiaries can be classified as follows: 1. Property Development Business 1.1. Property for Rent Business - Hotel/serviced apartment and office building for rent 1.2. Property for Sale Business – Development of Town Home, Single-detached House and Condominium projects for sale in Bangkok and in the country. Currently, it is under feasibility study and the Company expects to start developing such projects within 2017. 1.3. Property Management Service Business – Office building management service 2. Information Technology Service Business – Hospital Information System Implementation Service, Enterprise Resource Planning (ERP) and System Maintenance and Support Service. 3. Business Consultancy Service Business 1.1 Vision The Company determines to expand property development business, full-service office building management and information system service business. The Company also looks for an opportunity to invest in various businesses both listed and non-listed companies covering domestic and foreign market for business growth 1.2 Mission The Board of Directors aims to provide highest benefits to the shareholders by developing existing property projects continuously and selects new potential projects with the ultimate goal to generate satisfactory revenue and profits from investment to the Company. 1.3 Key Events and Major Developments Part 1 Page 1 Principal Capital Public Company Limited was formerly known as Metrostar Property Public Company Limited and it was establish on August 22, 2000 with the initial capital of Baht 5,000,000 and listed in the Stock Exchange of Thailand on October 26, 2005 to operate property development business. The change and major development is as follows: Year Key Events 2003-2013 The Company developed several important projects including Silom Grand Terrace, St. Louis Grand Terrace and Sathorn Terrace which was renamed as Marriott Executive Apartments Sathorn Vista, Bangkok. The Company gradually increased its registered capital from Baht 5,000,000 to Baht 610,000,000 The Company’s major shareholder was changed to Mr. Satit Viddayakorn and renamed the Company to Principal Capital Public Company Limited and change the security symbol to “PRINC” The Company set up Principal Investment Company Limited, a subsidiary company which the Company held 99.99 percent shares of Baht 10 million registered capital to offer business consultancy service to support Company’s investment The Company expanded its asset management service by offering full- service solutions to manage assets of Bangkok Business Center Building, Ekamai. The Company increased its registered capital to Baht 1,400,700,000 with paid up capital of Baht 933,800,000, and 466,900,000 shares reserved for conversion of warrants (at Bath 1 per share) to purchase common stock of the Company (PRINC-W1). The Company acquired Convergence Systems Company Limited, an information systems (IT) implementation provider for hospitals and other corporate clients, by taking up its 99.99 percent shares, to enhance its business capacity and strategy and lessen its reliance on real estate sector as its sole revenue stream. 2014 The Company increased its paid up capital from warrants conversion of 13,924,500 shares amounting to Baht 13,924,500, which led to the total paid-up capital of Baht. 947,724,500 The Company announced “DECLARATION OF INTENT IN VIEW OF ESTABLISHING THAILAND’S PRIVATE SECTOR COLLECTIVE ACTION COALITION AGAINST CORRUPTION” The Company has started the Quality Management Systems ISO 9001 : 2008 project for 2015 approval 2015 The Company obtained Quality Management Systems ISO 9001 : 2008 certification Part 1 Page 2 Year Key Events The Company established a new subsidiary namely Bangkok Center District Company Limited with total registered capital of Baht 300 million and paid up capital of Baht 75 million to engage in real estate development business working closely with public sector in Public Private Partnership (PPP) project which the Company held 99.99 percent shares in this company. The Company increased its paid up capital from warrants conversion of 10,251,700 shares amounting to Baht 10,251,700 leading to the total paid-up capital of Baht 957,976,200 2016 The Company increased its paid up capital from warrants conversion of 442,172,887 shares amounting to Baht 442,172,887, which