DOCSLIB.ORG

Crystal Retail Growth Leasehold Property Fund

Total Page：16

File Type：pdf, Size：1020Kb

Download full-text PDF Read full-text
Crystal Retail Growth Leasehold Property Fund Thailand Company Focus Crystal Retail Growth Leasehold Property Fund Bloomberg: CRYSTAL TB | Reuters: CRYSTALu.BK Refer to important disclosures at the end of this report DBS Group Research . Equity 8 Oct 2019 BUY Solid high yields play (Initiating Coverage) • A retail property fund that aims to convert into a REIT, Last Traded Price ( 7 Oct 2019): Bt9.70 (SET : 1,613.71) backed by a 179% increase in fund size to Bt11.3bn Price Target 12-mth: Bt10.80 (11% upside) • Initial investment in two projects of Bt4bn and investing in eight more projects of Bt7.3bn by end-4Q19, giving a DPU Potential Catalyst: New assets acquisition, rental reversion, occupancy accretion of Bt0.02 rates • Well-diversified portfolio in prime suburban areas with Analyst excellent tenant mix and growth potential Thailand Research Team +662 857 7823; [email protected] Nantika WIANGPHOEM, CFA +66 28577836 [email protected] • Initiating coverage with BUY rating and DCF-based TP of Bt10.80, with a yield of 7.5% in FY20F and IRR of 8% Exciting conversion. Crystal Retail Growth Leasehold Property Fund Price Relative (CRYSTAL) is in the midst of converting into Bualuang K.E. Retail Real Estate Investment Trust (BKER). It had initially invested in two projects – the Crystal and the Crystal Design Center – worth Bt4bn with an NLA of 42,967 sqm. It is in the process of acquiring new assets (eight projects) of Bt7.3bn with an NLA of 96,366 sqm. This will enlarge the asset size by 179% to Bt11.3bn, with a total NLA of 139,333 sqm (100% leasehold). After the conversion, BKER will be jointly managed by co-REIT managers (K.E. Group and BBLAM). It will be able to gear up to 35% TAV and raise capital, providing it with opportunities to acquire new assets from various sponsors, Forecasts and Valuation FY Dec (Btm) 2017A 2018A 2019F 2020F including K.E. Group and the other existing sponsors. Gross Revenue 380 377 381 1,536 Net Property Inc 337 331 335 976 Differentiating with submarket position and diverse tenant mix. Total Return 291 288 290 634 BKER’s assets comprise community malls with high occupancy Distribution Inc 296 265 276 631 located in the prime suburban areas of Bangkok. As the REIT will EPU (Bt) 0.74 0.73 0.74 0.73 EPU Gth (%) nm (4) 62 (2) focus on the lifestyle experiences of customers in each asset, its DPU (Bt) 0.76 0.68 0.71 0.73 tenants mix will be determined discreetly and designed to meet DPU Gth (%) nm (11) 4 3 customers’ shopping preferences and behaviour. This would help NAV per shr (Bt) 10.7 10.5 10.4 10.1 PE (X) 20.4 21.2 13.1 13.3 differentiate BKER’s assets from other retails REITs, make its Distribution Yield (%) 7.8 7.0 7.3 7.5 operations more resilient, and give it a competitive edge during P/NAV (x) 0.9 0.9 0.9 1.0 times of economic uncertainties. Aggregate Leverage (%) 0.0 0.0 0.0 25.4 Valuation: ROAE (%) N/A 4.3 7.1 9.9 Our TP of Bt10.80 for BKER is based on DCF (WACC: 5.8%). Key Risks to Our View: Consensus DPU (Bt): N/A N/A N/A Other Broker Recs: B: 0 S: 0 H: 0 A sluggish economy, digital disruption and new supply could weigh on BKER’s occupancy and rental reversion, thus affecting ICB Industry : Real Estate its earnings and distribution. ICB Sector: Equity Real Estate Investment (REITs) Principal Business: Retail REIT At A Glance Issued Capital (m shrs) 390 Mkt. Cap (Btm/US$m) 3,783 / 124 Major Shareholders (%) Source of all dataon this page: Company, DBSVTH, Bloomberg Finance L.P. Benchakij Pattana Co Ltd 20.7 Thailand Social Security Office 19.3 Kiat Sahamitr Co Ltd 10.0 Free Float (%) 40.8 3m Avg. Daily Val (US$m) 0.06 ed: CK/ sa: PY, CS Company Focus Crystal Retail Growth Leasehold Property Fund SWOT Analysis Strengths Weakness • Prime location: BKER’s assets are located in high-traffic • Rental reversion: As BKER’s assets come with high areas, i.e. residential areas of Bangkok. The assets come with occupancy rates, rental reversion should be a potential key transport systems and sizeable parking areas that help catalyst for its future earnings. The retail sector is currently provide customers with convenient accessibility. in a recovery stage from sluggish growth in the last couple of years. Nonetheless, we see benefits in BKER’s strategy of • Submarket differentiation: BKER’s retail assets are varied asset re-tenanting in sustaining its operations. (i.e. shopping centres, specialty malls, and community malls) and located mostly in the prime suburban areas of Bangkok. • Fund/REIT size: CRYSTAL’s fund size is relatively small Their focus on customers’ wellness and lifestyle would help (with a total fund size of Bt4bn. This can result in low trading differentiate BKER’s assets from other retails REITs and gives it liquidity and make it less attractive to large institutional a competitive edge. investors. • Diverse tenant mix: BKER will focus on tenants with However, after its new asset acquisitions, BKER will experience in the retail arena with the utlimate aim of creating potentially be the 2nd largest REIT in terms of total asset value a diverse tenant mix. A suitable mix of tenants would help (TAV) in the retail REIT space in Thailand. Thus, we believe enhance customer experiences, boost shopper traffic, and this transaction would help enhance BKER’s liquidity and its lessen its reliance on any one particular achor tenant. attractiveness to institutional investors. • High occupancy: The majority of BKER assets are located in prime suburban areas with high occupancy rate. This is due to consistently high shopper traffic and robust demand in the the residential and neighbouring areas for each of its assets. This can help cushion BKER against a sluggish economy. • Experienced co-REIT and property managers: K.E. REIT Management (a subsidiary of K.E. Group) and BBL Asset Management (BBLAM) will be the co-REIT managers and K.E. Group will be main BKER’s property manager. K.E. Group and BBLAM boast high levels of experience and expertise in direct retail real estate and finance, respectively. Opportunities Threats • New asset acquisitions: BKER currently has more than 37 • Economic volatility: Any negative developments arising properties in the pipeline for potential future acquisitions. from economic weakness may erode BKER’s revenue and Furthermore, there are ample acquisition candidates from earnings, thus weighing on its DPU. small- and medium- sized developers that wouuld give BKER the opportunity to enlarge its asset size. • Digital disruption: The advent of e-commerce has become a major threat to the retail business. However, BKER’s • Growth strategy: New supply will be limited in the medium strategy of adapting to customers’ changing lifestyles and tolong term due to the high barriers to entry for the retail preferences could allow the REIT to offer a unique customer business (i.e. scarcity of land and high land price in prime experience that would help attract/maintain shopper traffic locations). This should help stabilise the occupancy rate and at its malls. enable BKER to pursue positive rental reversions going forward. Source: Company, DBSVTH Page 2 Company Focus Crystal Retail Growth Leasehold Property Fund Business overview Conversion to REIT by end-2019. CRYSTAL Retail Growth BKER: Investment portfolio by assets value Leasehold Property Fund (CRYSTAL) is in the process of converting into Bualuang K.E. Retail Leasehold Real Estate Investment Trust (BKER), after its shareholders gave their approval at an annual general meeting on 30 April 2019. Initial assets , The new shares to be issued for the conversion are 36% Bt11,340m 390,000,000 units. The swap ratio for CRYSTAL to BKER New assets , shares is 1:1. The conversion is expected to be completed by 64% end-2019, running in parallel with its new asset acquisitions. Note that the conversion may or may not subject to taxes as BKER will be the 1st property fund converting into a REIT after the conversion tax exemption period (the REIT manager is currently seeking the opinion of the Revenue Department, as Source: Company, DBSVTH the tax structure has yet to be finalised). BKER: Investment portfolio by NLA Investment portfolio of up to Bt11.4bn. BKER will invest in a The Sammakorn The Sammakorn total 10 projects at the maximum acquisition value of Ratchapruek, 3% Place Rangsit, 2% Bt11,387m, which represents 6.7% premium the lower The Amorini, 4% appraised value by two independent appraisers. The I'm Park, 5% The Crystal Design The Scene , 5% Center The total NLA shall be 139,333 sqm. The top three largest (CDC), 26% assets by area are 1) the Crystal Design Center with 36,103 The Sammakorn Place Ramkhanhaeng sqm, 2) the Crystal Ekkamai-Ramindra with 30,778 sqm, and (West), 7% 139,333sqm 3) the Crystal Ratchapruek with 24,436 sqm, accounting for The Plearnary, 26%, 22%, and 18% of the total NLA, respectively. The Crystal 8% Ekkamai- The Crystal Ramindra, BKER has diverse tenants mix focusing on customers’ lifestyle Ratchapruek 22% and experiences; thus, its top three tenants by total NLA as of , 18% end-2Q19 are in Food & Beverage (19%), Home Decoration (18%), and Lifestyle (15%). Source: Company, DBSVTH Our assumption. We estimated BKER’s total investment portfolio to be Bt11,340m include the two initial assets of c.Bt4,055m – the Crystal (Ekkamai-Ramindra) and the Crystal Design Center – and the new assets of c.Bt7,285m.
Load more

Recommended publications
  • Annual Report 2017
    ANNUAL REPORT 2017 Loxley Public Company Limited 41 Trading Business Group CONTENTS 43 International Trade Business Group 02 Vision, Mission 44 Service Business Group 03 Corporate Goals and Strategy 46 Joint Venture Business Background, Major Changes and Support Unit 04 Milestones 49 Corporate Social Responsibility 05 Message from the Chairman 52 Risk Factors 06 Activities 2017 59 Legal Disputes 08 Financial Summary 61 Details of the Company 09 Revenue Structure 62 Capital Structure 10 Company Structure 2017 63 Details of Ownership in Related Parties 11 Company Structure 2018 66 Management 12 Board of Directors 73 Executive Remuneration 14 Executive Board 85 Corporate Governance 16 Management Board 86 Personnel 18 Department Management 97 Information of Company Executives Directors in Subsidiaries 100 19 Director's Positions 21 IT Business Group 118 in the Related Parties 25 Telecom Business Group 121 Director's Positions in the Subsidiaries 26 Technology Business Group 123 Internal Control and Audit Project Business Group Report of Board's Responsibility 29 125 for Financial Report Construction Business Group 33 126 Report of the Audit Committee Infrastructure Business Group 36 128 Related Transactions 38 Alternative Energy Business Group Management Discussion and Analysis 136 to the Results of Business Operations 147 Independent Auditor’s Report 152 Financial Statements 240 Auditor Remuneration, Other Parties VISION “Inspired Choice for Customers, Business Partners and Investors” MISSION 1. We seek to provide greater value in products and services to ensure complete customer satisfaction. 2. We strive to keep ahead of market changes and foster a climate of business innovation. 3. We seek to maintain our leadership in the area of information technology for our business progress.
    [Show full text]
  • Guidebook for International Residents in Bangkok
    2ND EDITION SEPTEMBER 2019 GUIDEBOOK FOR INTERNATIONAL RESIDENTS IN BANGKOK International AffairS Office, Bangkok Metropolitan Administration GREETING Bangkok Metropolitan Administration (BMA) is the local organization which is directly responsible for city administration and for looking after the well-being of Bangkok residents. Presently, there are a great number of foreigners living in Bangkok according to the housing census 2010, there are 706,080 international residents in Bangkok which is accounted If you have any feedback/questions for 9.3% of all the Thai citizen in Bangkok. regarding this guidebook, please Moreover, information from Foreign contact International Affairs Office, Workers Administration Office shows that Bangkok Metropolitan Administration there are 457,700 foreign migrant workers (BMA) in Bangkok. Thus, we are pleased to make at email: a Guidebook for International Residents in [email protected] Bangkok. This guidebook composes of public services provided by the BMA. We and Facebook: do hope that this guidebook will make https://www.facebook.com/bangkokiad/ your life in Bangkok more convenient. International Affairs Office, Bangkok Metropolitan Administration (BMA) PAGE 1 Photo by Berm IAO CONTENTS 0 1 G R E E T I N G P A G E 0 1 0 2 C I V I L R E G I S T R A T I O N ( M O V I N G - I N / N O N - T H A I I D C A R D ) P A G E 0 3 0 3 E M E R G E N C Y N U M B E R S P A G E 1 5 0 4 B A N G K O K M E T R O P O L I T A N A D M I N I S T R A T I O N A F F I L I A T E D H O S P I T A L S P A G E 1 9 0 5 U S E F U L W E B S I T E S P A G E 3 8 0 6 BMA CCTV CAMERA P A G E 4 1 0 7 R E F E R E N C E P A G E 4 4 PAGE 2 Photo by Peter Hershey on Unsplash CIVIL REGISTRATION (Moving - In/ Non-Thai ID card) PAGE 3 Photo by Tan Kaninthanond on Unsplash Moving - In Any Non - Thai national who falls into one of these categories MUST register him/herself into Civil Registration database.
    [Show full text]
  • EN Cover AR TCRB 2018 OL
    Vision and Mission The Thai Credit Retail Bank Public Company Limited Vision Thai Credit is passionate about growing our customer’s business and improving customer’s life by providing unique and innovative micro financial services Mission Be the best financial service provider to our micro segment customers nationwide Help building knowledge and discipline in “Financial Literacy” to all our customers Create a passionate organisation that is proud of what we do Create shareholders’ value and respect stakeholders’ interest Core Value T C R B L I Team Spirit Credibility Result Oriented Best Service Leadership Integrity The Thai Credit Retail Bank Public Company Limited 2 Financial Highlight Loans Non-Performing Loans (Million Baht) (Million Baht) 50,000 3,000 102% 99% 94% 40,000 93% 2,000 44,770 94% 2,552 2,142 2018 2018 2017 30,000 39,498 Consolidated The Bank 1,000 34,284 1,514 20,000 Financial Position (Million Baht) 1,028 27,834 Total Assets 50,034 50,130 45,230 826 23,051 500 Loans 44,770 44,770 39,498 10,000 Allowance for Doubtful Accounts 2,379 2,379 1,983 - - Non-Performing Loans (Net NPLs) 1,218 1,218 979 2014 2015 2016 2017 2018 2014 2015 2016 2017 2018 Non-Performing Loans (Gross NPLs) 2,552 2,552 2,142 LLR / NPLs (%) Liabilities 43,757 43,853 39,728 Deposits 42,037 42,133 37,877 Total Capital Fund to Risk Assets Net Interest Margin (NIMs) Equity 6,277 6,277 5,502 Statement of Profit and Loss (Million Baht) 20% 10% Interest Income 4,951 4,951 3,952 16.42% 15.87% Interest Expenses 901 901 806 15.13% 8% 13.78% 15% 13.80% Net Interest
    [Show full text]
  • Bangkok Mass Rapid Transit Project (Pink Line)
    Draft Social Due Diligence Report Project Number: 51274-001 May 2018 Proposed Loans Northern Bangkok Monorail Company Limited Eastern Bangkok Monorail Company Limited Bangkok Mass Rapid Transit Project (Pink and Yellow Lines) (Thailand) Bangkok Mass Rapid Transit Pink Line Project PART A Draft Social Safeguards Compliance Audit Prepared for BSR Joint Venture, Northern Bangkok Monorail Company Limited and the Asian Development Bank. This draft social due diligence report is a document of the borrower. The views expressed herein do not necessarily represent those of ADB's Board of Directors, Management, or staff, and may be preliminary in nature. In preparing any country program or strategy, financing any project, or by making any designation of or reference to a particular territory or geographic area in this document, the Asian Development Bank does not intend to make any judgments as to the legal or other status of any territory or area. ABBREVIATIONS ADB Asian Development Bank AREA Agency for Real Estate Affairs BMA Bangkok Metropolitan Authority BSR BSR Joint Venture BTS BTS Group Holdings Public Company Limited BTSC Bangkok Mass Transit System Public Company Limited CAP Corrective Action Plan DOH Department of Highways EBM Eastern Bangkok Monorail Company Limited EIA Environmental Impact Assessment EXAT Expressway Authority of Thailand GSB Government Savings Bank Km Kilometer MOT Ministry of Transport MRT Mass Rapid Transit MRTA Mass Rapid Transit Authority of Thailand NEB National Environment Council NBM Northern Bangkok Monorail
    [Show full text]
  • Director CODI
    บ้านมั่นคง บ้านโดยชุมชน ทุกคนร่วมกันสร้าง [ 1 ] บ้านมั่นคง บ้านโดยชุมชน ทุกคนร่วมกันสร้าง [ 2 ] World Habitat Day began in 1985 by the Improvement of Homeless. All programs United Nations General Assembly, who support the local community to be the determined that every first Monday of core of the problem solving at the city October of each year as "World Habitat level, encompassing a participatory process Day". It is intended to allow different with local stakeholders and all relevant countries to pay attention to the situation sectors. of human habitation and settlement, as well as the basic rights of having For this year, the World Habitat Day is on appropriate housing. It aims to raise Monday, 7 October 2019, under the theme awareness of shared responsibility in of “Frontier Technologies as an innovative managing all human beings to have tool to transform waste to wealth”, and to adequate shelter in the future. It is a be in line with the main themes of the UN worldwide practice under the Resolution event, the CODI has announced the 40/202 (17 December 1985), including following topics for organizing the World Thailand. The Royal Thai Government has Habitat of the Year 2019 as follows: “Baan focused on low-income housing through designating it as a 20-year National Strategic Mankong : Collective Housing”. “Baan Plan (from 2017 - 2036) and the Mankong” means a secure house. It is a Community Organization Development housing program where all community Institute (CODI) is considered as one of the members participate to build and manage agencies that drive the work in both urban land, housing and environmental issues, and rural settings, which is responsible for including waste management by using tools over 1.05 million households, through and innovation which is invented by the different programs including Urban Baan local community.
    [Show full text]
  • Ÿ°“√√—∞¡Πµ√’«À“°“√°√–∑√«ß¡À“¥‰∑¬ (≈¢.√¡«.¡∑.)
    1 2 “√∫—≠ Àπâ“ §”π” à«π√“™°“√·≈–Àπ૬ߓπ√—∞«‘ “À°‘® √“™°“√ à«π°≈“ß °√–∑√«ß¡À“¥‰∑¬ (¡∑.) √—∞¡πµ√’«à“°“√°√–∑√«ß¡À“¥‰∑¬ (√¡«.¡∑.) ......................................................................... 9 ‡≈¢“πÿ°“√√—∞¡πµ√’«à“°“√°√–∑√«ß¡À“¥‰∑¬ (≈¢.√¡«.¡∑.) .................................................. 10 ∑’˪√÷°…“√—∞¡πµ√’«à“°“√°√–∑√«ß¡À“¥‰∑¬ (∑’˪√÷°…“ √¡«.¡∑.) .......................................... 10 √—∞¡πµ√’™à«¬«à“°“√°√–∑√«ß¡À“¥‰∑¬ (√¡™.¡∑.) .................................................................. 10 ºŸâ™à«¬‡≈¢“πÿ°“√√—∞¡πµ√’«à“°“√°√–∑√«ß¡À“¥‰∑¬ (º™.≈¢.√¡«.¡∑.) .................................. 11 ∑’˪√÷°…“√—∞¡πµ√’™à«¬«à“°“√°√–∑√«ß¡À“¥‰∑¬ (∑’˪√÷°…“ √¡™.¡∑.) ................................... 12 ”π—°ß“π√—∞¡πµ√’ °√–∑√«ß¡À“¥‰∑¬ ( √.¡∑.) ................................................................... 15 ”π—°ß“πª≈—¥°√–∑√«ß¡À“¥‰∑¬ ( ª.¡∑.) ª≈—¥°√–∑√«ß¡À“¥‰∑¬ (ª¡∑.) .............................................................................................. 19 √Õߪ≈—¥°√–∑√«ß¡À“¥‰∑¬ (√Õß ª¡∑.) ................................................................................. 19 𓬰 ¡“§¡·¡à∫â“π¡À“¥‰∑¬ ............................................................................................... 22 ”π—°ß“πºŸâµ√«®√“™°“√°√–∑√«ß¡À“¥‰∑¬ ( πß.ºµ.¡∑.) .................................................. 23 π—°ª°§√Õß 10 .......................................................................................................................... 28 ∑’˪√÷°…“¥â“𧫓¡¡—Ëπ§ß ........................................................................................................
    [Show full text]
  • Bangkok Mass Rapid Transit (Pink Line) (Part 2 of 5)
    Environmental Impact Assessment (Final) Project Number: 51274-001 October 2017 THA: Bangkok Mass Rapid Transit (Pink Line) (Part 2 of 5) Prepared by The Mass Rapid Transit Authority of Thailand. The environmental impact assessemnt is a document of the borrower. The views expressed herein do not necessarily represent those of ADB's Board of Directors, Management, or staff, and may be preliminary in nature. Your attention is directed to the “Terms of Use” section of this website. In preparing any country program or strategy, financing any project, or by making any designation of or reference to a particular territory or geographic area in this document, the Asian Development Bank does not intend to make any judgments as to the legal or other status of any territory or area. CHAPTER 3 PROJECT DESCRIPTION CHAPTER 3 PROJECT DESCRIPTION 3.1 PHYSICAL ALIGNMENT Pink Line Mass Rapid Transit Project, Khae Rai-Min Buri section, with 34.5 km in total length, has been defined as a minor mass transit system in the form of elevated straddle monorail. The alignment of Pink Line Mass Rapid Transit (MRT) Project starts on Rattanathibet Road in front of Nonthaburi Government Center where the Pink Line will connect to the Purple Line, Bang Yai-Bang Sue section. Then the Line turns left at Khae Rai intersection onto Tiwanon Road and goes along Tiwanon Road. It will pass Central Chest Institute of Thailand, Sanambin Nam intersection and Wat Chonlaprathanrangsarit until reaching Pak Kret intersection. The Line then turns right onto Chaeng Watthana Road, passing Impact Arena, Muang Thong Thani, the 2nd stage expressway (Si Rat), Bangkok Government Complex, and Laksi intersection where it will connect to the Red Line, Bang Sue-Rangsit section.
    [Show full text]
  • Next Plus Engineering
    E N G I R QUALITY OF SERVICE IS OUR COMMITMENT QUALITY : ENGINEERING STANDARD TIME : PUNCTUAL DELIVERY COST : FAST WITH REASONABLE PRICE C O M P A N Y P R O F I L E N E X T P L U S E N G I N E E R I N G QUALITY OF SERVICE IS OUR COMMITMENT CONTENT » Next Plus Engineering 4 » Our service 8 » Factory & Warehouse 10 » Studio & machinery soundproofing in the factory 16 » Electrical& Communication System (M&E System) 20 » Buildings & residences 23 » Project Reference 26 » Rack system 29 OVER PROJECTSPROUD QUALITY OF SERVICE IS OUR COMMITMENT » One stop service, providing fully-integrated services at once in convenient and fast manner » Expertise team of architects and engineers giving advice and controlling work for every process » Certified by engineering standards and ISO 9001: 2015, Quality is our priority. » Selected TIS quality materials. » Internal QA QC standards inspection before delivering to customers » Punctual process and deliver with fast construction » Stay with the budget specified by clients » Personnel potential development with modern technology » Great after-sales service for customers care » Maximum 10-year structure guarantee Quality Management System Standard (ISO 9001: 2015) 4 N E X T P L U S E N G I N E E R I N G N E X T P L U S E N G I N E E R I N G 55 ENGINEERINGNEXT PLUS Next Plus Engineering Co., Ltd. services design for architecture, structure and M&E systems with complete one stop service construction flow. There are many guaranteed works, from small to large construction projects, including general con- struction work, factories, warehouses, all types of buildings, old building renovations, soundproof studio room projects, electrical systems, plumbing works, etc.
    [Show full text]
  • Smart Metro Annual Report 2017 Annual Report 2017
    Metropolitan Electricity Authority MEA Smart Metro Annual Report 2017 Annual Report 2017 30 Soi Chidlom, Pleonchit Road, Lumpini, Patumwan, Bangkok 10330 Tel. 0 2254 9550, 0 2251 9586 Fax : 0 2253 1424 www.mea.or.th Call Center: 1130 MEA Smart Metro Annual Report 2017 MEA Smart Metro Annual Report 2017 Contents Annual Report 2017 6 Performance Report of 2017 Metropolitan Electricity 10 Message from the MEA Governor Authority 6-18 13 Report of the MEA Audit Committee Quantity: 500 Copies 16 Report of the Risk Management Subcommittee 18 Report of the Good Corporate Governance Subcommittee Owner and Publisher by Metropolitan Electricity Authority 30 Soi Chidlom, Phloen Chit Road General Information Lumphini, Pathum Wan 20 History Bangkok 10330 State Enterprise Strategic Plan Tel. 0 2254 9550 22 Vision, Mission, Values, and Strategy Fax 0 2253 1424 20-27 23 Types of Business www.mea.or.th 24 Financial Highlights 26 Factors Affecting MEA Designed and Published by 27 Economic Outlook and Energy Situation Amarin Printing & Publishing Public Co., Ltd. Organization Structure 376 Chaiyaphruk Road, Taling Chan 30 Board of Directors Bangkok 10170 38 Executives Tel. 0 2422 9000 # 1337, 1338 30-56 Fax 0 2422 9091 54 Organization Chart 56 Workforce Structure 57 Capital Structure Current and Future Major Investment Plans and Projects 58 Major Investment Plans and Projects 58-61 58 Related Business and Assets Value’s Creation 61 Investment in Controlled Entity 6 Performance Report of 2017 Performance Analysis 62 Performance Analysis 10 Message from the
    [Show full text]
  • Buengkum District Office History
    Bangkok Metropolitan Administration BUENGKUM DISTRICT OFFICE HISTORY Bueng Kum was separated from Bang Kapi on 4 September 1989 consisting of 3 sub-districts: Khlong Kum, Khan Na Yao, and Saphan Sung. On 14 October 1997, Khan Na Yao and Saphan Sung's were elevated to districts, leaving Bueng Kum with sole sub-district: Khlong Kum. Bueng Kum was named so because of a lake (Bueng means lake) used as water reservoir for flood prevention. There are also plants called Kum around the lake. The lake is part of Seri Thai Park. ADMINISTRATION The district is sub-divided into 3 sub-districts 1. Khlong Kum 2. Nawamin 3. Nuan Chan Total area is 24.311 km2 NEIGHBORHOOD The area is connected with other areas as follows : ► North connected to Bang Khen District ► South connected to Saphan Sung District ► West connected to Bang Kapi and Lat PhraoDistrict ► East connected to Khan Na Yao District MAP Bang Khen Lat Phrao Nuan Chan Khan Na Yao Nawamin Khlong Kum Bang Kapi Saphan Sung POPULATION Amount of population Number Sub-district Male Female Total 1. Khlong Kum 32,558 37,690 70,248 2. Nawamin 13,076 15,782 28,858 3. Nuan Chan 21,460 22,503 39,556 Total 67,094 78,975 93,658 Note : Survey in June 2013 BUENGKUM DISTRICT OFFICE 999, Seri Thai road, Khlong Kum , Bueng Kum, Bangkok, 10240 VISION Buengkum District is the resident that has the best environment of Bangkok east side. FUNCTION 1. Administrative Office Division ▪ Has the following authority : ruling , administrative registration. 2. The Registration Division ▪ Is responsible for providing registration work including the reports for population records.
    [Show full text]
  • 2.6 About the Study Area Bangkok Was Established in 1782 As the Capital
    32 2.6 About the study area Bangkok was established in 1782 as the capital of Thailand by King Rama I of the Chakri Dynasty on a flood plain delta of the Chao Phraya River. The location was selected with the consideration as a natural defense from enemies and the richness of water for lives earning. The Chao Phraya river and network of canals (klongs) is the origin of Bangkok’s nick-name ; ‘Venice of the east’. Local people usually refer to it as "Krungthep," it is known around the world by the name of its original site "Bangkok ". The city has grown steadily in size and her importance from only 4.14 square kilometers to nowadays becoming ‘a mega city’19 that comprises of 50 districts with total area of 1,568.737 square kilometers, or 980,460.62 Rais20. The unofficial population of greater Bangkok covering neighbor provinces is as high as 10 million of daytime population. Bangkok is also identified as an unplanned fast growing big city with almost recorded 7 millions population (year 2001). The registered population in Bangkok increased from 1.6 million in 1958 to 5.4 million in 1986 and 5.6 million in 199921. The Bangkok Comprehensive Plan is targeted to accommodate a population of: 9.3 million in 2002, 10.2 million in 2017, and 11 million in 2022, 54.5 % growth expected between 1995- 2015 (City size estimated on basis of urban agglomeration, not administrative boundaries22). Most residents in Bangkok are native Thais with around 25% of the city's inhabitants being other nationalities, which are Chinese or of Chinese descents, Indians, Arabs, Malays and Europeans.
    [Show full text]
  • Journal of the Eastern Asia Society for Transportation Studies, Vol.12, 2017
    Journal of the Eastern Asia Society for Transportation Studies, Vol.12, 2017 Analysis of Pedestrian Crash Zones in Bangkok: A Case study of Primary and Secondary school Somluk BUNNARONG a, Prapatpong UPALAb a,b Multidisciplinary Design Research Program, Faculty of Architecture, King Mongkut’s Institute of Technology Ladkrabang (KMITL), 10520, Bangkok, Thailand a E-mail; [email protected] b E-mail; [email protected] Abstract: Road accidents are major problems resulting in loss of life and property. Schools are accident-prone locations because majority of road users are students understand about traffic rules. This research aimed to investigate the occurrence of road and pedestrian accidents at primary and secondary schools in Bangkok, Thailand. This research was collected statistical data on road traffic injuries and imported the collected data into Geographic Information System (GIS). Then, Kernel Density Estimation (KDE) was applied to analyze data of 12 schools in Bangkok Metropolis Administration areas. The results showed that a majority of road accidents occurred in urban areas, crowded areas and intersections with heavy traffic. The suggested solutions were that knowledge of understanding of traffic rules should be promoted among students and a traffic sign consistent with student’s learning behavior should be provided. Keywords: Pedestrian Crash Zones, Accident-prone areas, Road safety, School zone 1. INTRODUCTION Road accidents are a significant problem currently faced in the real world. The World Health Organization (WHO) has reported road accident as the primary cause of death among people aged 15-29 years and the second leading cause of death in children aged 5-14 years. Furthermore, over 50 percent of all deaths caused by road accidents occur in pedestrians, cyclists, and motorcyclists.
    [Show full text]