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1 2 5 5 4

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83,845 133,704

2550 2551 2552 2553 2554

( 5 2555) ()

2 2 5 5 4

2554 952,000

2 2 5 5 4

3

2554 2554 952,000 13 60 133,704 2554 1,329 65 2,273 18,031 1.24 2554 1.1 1.5 2556 synergy 2559 top-of-mind . () 2555

3

4 2 5 5 4

( : ) 2554 2553 2552 2551 2550 133,704 83,845 45,910 60,134 50,017 3,311 4,877 2,972 1,598 975 1,959 4,113 2,298 652 144 1,329 3,841 2,182 603 102 40,412 37,656 23,105 15,181 18,015 22,381 27,264 15,736 9,773 14,010 18,031 10,392 7,369 5,408 4,005 () 4.3 6.2 7.7 4.9 4.3 () 1.0 4.6 4.7 1.0 0.2 () 1.5 1.2 1.1 1.0 1.0 () 1.1 2.5 2.0 1.6 3.3 : 2550 - 2552 .. 2543

2553 - 2554

2554 2553 2552

RSS 19%

TSR 72%

LTX 7% Others 2%

RSS 18%

TSR 70%

LTX 10% Others 2%

RSS 19%

TSR 67%

LTX 11% Others 3%

RSS - TSR - LTX -

( ) 5

()

1,000,000 900,000 800,000 700,000 600,000 500,000 400,000 300,000 200,000 100,000

-

()

2550 2551 2552 2553 2554

() 160,000 140,000 120,000 100,000 80,000 60,000 40,000 20,000 -

() ()

14% 12% 10% 8% 6% 4% 2% 0%

2550 2551 2552 2553 2554

() ()

() ()

()

4.5 4.0 3.5 3.0 2.5 2.0 1.5 1.0 0.5 0.0

2550 2551 2552 2553 2554

50% 45% 40% 35% 30% 25% 20% 15% 10% 5% 0%

2550 2551 2552 2553 2554

()

2.0 1.8 1.6 1.4 1.2 1.0 0.8 0.6 0.4 0.2 0.0

2550 2551 2552 2553 2554

45 40 35 30 25 20 15 10 5 0

2550 2551 2552 2553 2554

3.5 3.0 2.5 2.0 1.5 1.0 0.5 0.0

2550 2551 2552 2553 2554

4,000 3,500 3,000 2,500 2,000 1,500 1,000 500 -

()

2550 2551 2552 2553 2554

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() ()

6 2 5 5 4

1. / 56 (PHD) Queen Elizabeths College, University of London ( 1) Queen Elizabeths College, University of London - . Sri Trang International . . . . .. . . . . . . . . . PT Sri Trang Lingga Shanghai Sempermed Semperflex Shanghai Shi Dong Investments Shi Dong Shanghai Sri Trang USA, Inc. Sempermed Singapore Sempermed USA, Inc. . Shanghai Semperit PT Star Rubber 2530 - 2536 . 2528 - 2530 .

2. / 64 Executive Micro MBA DAP 75/2008 . . . .. . . . PT Sri Trang Lingga 2530 - 2536 . 2529 - 2534 2518 - 2540 .

( ) 7

3. / 60 Executive Micro MBA DAP 66/2007 . . . . .. . . . . . PT Sri Trang Lingga Shanghai Sempermed Semperflex Shanghai Sempermed Singapore Shanghai Semperit Shi Dong Shanghai 2530 - 2536 . 2533 - 2535 2513 - 2529 .

4. / 57 Executive Micro MBA DAP 66/2007 . . . . .. . . . . Semperflex Shanghai Sempermed Singapore

8 2 5 5 4

5. / / 52 Indiana State University DAP 67/2007 SGX Listed Companies Development Programme: Understanding the Regulatory Environment in Singapore: What Every Director Ought to Know . . . .. . . . . Shanghai Sempermed Semperflex Shanghai Sri Trang International Shi Dong Investments Sri Trang USA, Inc. Sempermed Singapore Sempermed USA, Inc. . 2531 - 2549 . 2527 - 2530

6. 27 , The University of Reading, United Kingdom DAP 85/2010 . . . . Shanghai Sempermed 2551 - 2554 .

( ) 9

7. / 57 International Institute for Management Development, Lausanne Bachelor of Commerce University of New South Wales, Sydney SGX Listed Companies Development Programme: Understanding the Regulatory Environment in Singapore: What Every Director Ought to Know . PT Star Rubber . Shi Dong Investments PT Sri Trang Lingga Shi Dong Shanghai Sri Trang USA, Inc. Sri Trang International

8. / / 71 Indiana University () Indiana University Audit Committee Program (ACP) 27/2009 Monitoring the Quality of Financial Reporting (MFR) 8/2009 Monitoring Fraud Risk Management (MFM) 1/2009 Chartered Director Class (CDC) 3/2008 Director Certification Program (DCP) 33/2003 Role of the Chairman Program (RCP) 5/2001 SGX Listed Companies Development Programme: Understanding the Regulatory Environment in Singapore: What Every Director Ought to Know . . . . 2542 - 2554 . 2542 - 2551 . 2549 - 2551 / . 2540 - 2545 .

10 2 5 5 4

9. / / / 73 . DAP 11/2004 . 4250 2547 - 2548 . 2528 - 2541 , , 3 2511 2508

10. / / / 68 DAP 75/2008 SGX Listed Companies Development Programme: Understanding the Regulatory Environment in Singapore: What Every Director Ought to Know . 2549 - 2551 2546 - 2547 2545 - 2546 2543 - 2545 . 2540 - 2543 2539 - 2540 2527 - 2539 2512 - 2526

11

11. (Mr. Neo Ah Chap) 67 Diploma in Accountancy, Perth Technical College Certified Public Accountant (Australia) Certified Public Accountant (Singapore) SGX Listed Companies Development Programme: Understanding the Regulatory Environment in Singapore: What Every Director Ought to Know . NAC Consultancy Services 2514 - 2552 Tan Chong & Sons Motor Company (Singapore) Private Limited

( ) ( ) ( ) 11

12 2 5 5 4

13

1. 58 - 2548 - 2553 . 2540 - 2547 . 2536 - 2539 .

3. 44 - 2552 - . 2547 - 2551 Shanghai Sempermed 2541 - 2546 . 2538 - 2540 . 2532 - 2537 Line Chemist .

2. 40 - 2549 - 2553 . 2541 - 2548 . 2537 - 2540 .

( ) 13

14 2 5 5 4

4. 43 - . 2552 - 2553 . 2550 - 2551 . 2542 - 2549 .

5. (CFO) 43 - 2553 . 2544 - 2552 . 2532 - 2543 .

6. Controller 39 Certified Public Accountant (Australia) Diploma in Accountancy Ngee Ann Polytechnic, Singapore () Royal Melbourne Institute of Technology SGX Listed Companies Development Programme: Understanding the Regulatory Environment in Singapore: What Every Director Ought to Know 2545 - Sri Trang International 2544 Clarent Singapore Pte Ltd. 2536 - 2543 / Glenayre Electronics (S) Pte Ltd.

14 2 5 5 4

15

10. 44 () - 2551 - . 2543 - 2550 .

7. 38 University of Southern Colorado at Pueblo, United States - 2552 - 2553 . 2546 - 2552 . 2544 - 2546 . 2543 - 2544 .

8. 39 - 2552 - 2553 . 2549 - 2552 . 2541 - 2549 .

9. 50 () - . 2543 - . 2541 - 2542 . 2531 - 2540 .

( ) 15

16 2 5 5 4

( ) 17

31

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18 2 5 5 4

. 23 2530 31 . . 22 2534 27 2536 2554 . 31 2554 . (Dual Listing) (Full Supply Chain) 2530 . 2531 .

2532 . 2533 . . Itochu Corporation Limited

2537 .

2537 .

2538 Shanghai Semperit 2538 .

2541 . 2545 Sri Trang International

2547 Sri Trang USA, Inc.

( ) 19

2547

2548 PT Sri Trang Lingga

2550 .

2551 Sempermed Singapore Semperit Technische Sempermed Brasil

2552 PT Star Rubber 2553 Shi Dong Shanghai

2554 .

2530

31 2537 . 2539 . 2539 . 2541 Sempermed USA, Inc.

2548 Semperflex Shanghai 2550 Sri Trang International

Singapore Commodity Exchange Limited 2550 Sri Trang International Supplier Partnership and

Appreciation Day Goodyear Orient (Private) Company Limited 2551 Sri Trang International

Singapore Commodity Exchange Limited 2551 Sempermed Brasil

2552 .

2555 2552 . Prime Ministers Export Award 2009 ()

2554 . . Quality Award 3 2554 Shanghai Sempermed 2554 . 2

2,150,000,000

20 2 5 5 4

1. 3

: RSS (Ribbed Smoked Sheet) 5 1 2 3 4 5 : TSR Standard Thai Rubber (STR) Standard Indonesian Rubber (SIR) (Concentrated Latex) 60

(Procurement Centre) 31 2554 57 46 11 (Collection Centre) 36 21 5 31 2554 31 2554 19 2 1.1 2554 72.4

( ) 21

Sri Trang International, Sri Trang USA, Inc. Shi Dong Shanghai .

. . . 2. . () 40.2 .

31 2554 4 12,500 .

22 2 5 5 4

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. .

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.

( ) 23

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99.9%

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24 2 5 5 4

(Vertical Integration) (Full Supply Chain) Supply Chain

31 2552 31 2553 31 2554

31 2552 2553 2554 30,584.8 66.6 58,909.1 70.3 96,138.6 71.9 8,677.0 18.9 15,046.4 17.9 24,942.8 18.7 5,314.0 11.6 8,168.8 9.7 10,236.6 7.6 (1) 1,334.0 2.9 1,721.0 2.1 2,385.8 1.8 45,909.8 100.0 83,845.3 100.0 133,703.8 100.0 : (1) () ()

( )

(Full Supply Chain) Supply Chain

( ) 25

Supply Chain Supply Chain (Full Supply Chain) ( ) Supply Chain 50,000 ( 8,000 ) 3 . Supply Chain (Organic Growth) (Inorganic Growth) (Full Supply Chain) / 1.5 2556 2540 2543 2551 2543

(Full Supply Chain) 2

26 2 5 5 4

2547 2552 1 3

2550 (Upstream)

International Rubber Study Group (IRSG) Rubber Statistical Bulletin Vol. 66, No.7-9 2554 10,924,000 10,974,000 33.0 11.1 9.4 3,393,800 30.9 27.2

50,000 2557

/ / 1.5 2556

14,000 2555

( ) 27

2555 11,494,000 ( The World Rubber Industry Outlook, Review and Prospect to 2020 2554 IRSG) 70 IRSG 11,417,000 2555 77,000

() 2545 - 2555

2545 - 2555 :

:

2545 2546 2547 2548 2549 2550 2551 2552 2553 2554 2555 (f)

7.6 7.3 7.9 8.0 8.7 8.7 9.2 8.9

9.7 9.8 10.2 9.9 10.2 10.1 9.3 9.7 10.8 10.4 10.9 11.0

11.5 11.4 12 10 8 6 4 2 -

400,000 300,000 200,000 100,000

- (100,000) (200,000) (300,000) (400,000) (500,000)

(246,000) (298,000) (288,000)

(47,000)

(377,000)

(77,000)

69,000 28,000 137,000

361,000

50,000

2545 2546 2547 2548 2549 2550 2551 2552 2553 2554 2555 (f)

28 2 5 5 4

2554 8.71 18.42 2554 11.93 2554

2545 - 2554

2545 - 2554

:

:

: 1 951,935 31 2554

10,924,000 2554 2 625,673 31

2554 3,393,800 2554 3 317,513

31 2554 2,665,400 2554

2545 2546 2547 2548 2549 2550 2551 2552 2553 2554

12,000

10.000

8,000

6,000

4,000

2,000

-

12,000

10.000

8,000

6,000

4,000

2,000

- 2545 2546 2547 2548 2549 2550 2551 2552 2553 2554

( ) 29

:

(Full Supply Chain) 20 . . The Tat Lee Group The Kirana Group Lee Rubber Group 3

2554

STR 20 2554

6,000 5,500 5,000 4,500 4,000 3,500 3,000

03/01/

54 03/

02/54

03/03/

54 03/

04/54

03/05/

54 03/

06/54

03/07/

54 03/

08/54

03/09/

54 03/

10/54

03/11/

54 03/

12/54

25%

8% 6%

1%

15%

29%

10%

45%

7% 0.4%

17%

37%

27%

11% 8%

2%

18%

34%

2552 2553 2554

30 2 5 5 4

( ) 31

. 1. () -

- (Synthetic Rubber)

-

(Speculation) - Commodity Future Exchange

- 2552 (Quotas) 2555 (...)

/

32 2 5 5 4

(Emerging Market) 83.0 . (SGX-ST) () (Option)

( ) 33

. 31 2554 2,273.0 (Credit Market) 31 2554 18,010.5 85.6 14.4 1.1 7.7 (Credit Market) / /

34 2 5 5 4

2553 2555 . . . . . . / 31 2554 98.2

( ) 35

Sri Trang International Global Trader Programme International Enterprise Singapore 10 Global Trader Programme Sri Trang International 2. 61.2 28.4 6.1 3.4 0.9

36 2 5 5 4

( ) 37

5 2555 : 1,280,000,000 : 1,280,000,000 ( 1,280,000,000 1 ) : 1 : 1 1 5 2555

1 - 999 1,858 10.34 765,315 0.06 1,000 - 10,000 11,618 64.67 48,890,620 3.82 10,001 - 1,000,000 4,390 24.43 269,812,467 21.08 1,000,001 100 0.56 960,531,598 75.04 17,966 100.00 1,280,000,000 100.00 : CDP (Public Float) 5 2555 58.14 723 ( 5 ) 5 2555

. 1 246,852,060 19.29 - - 2 168,523,970 13.17 255,302,060 19.95 : 1 . 4,924,140 55.96

. 31.7 . .

2 8,450,000 246,852,060 .

38 2 5 5 4

20 5 2555

1. 246,852,060 19.29 2. 168,523,970 13.17 3. 54,787,505 4.28 4. CITIBANK NOMS SPORE PTE LTD 44,980,000 3.51 5. 42,926,231 3.35 6. CITIBANK NOMINEES SINGAPORE PTE LTD-MANTARAY INVESTMENTS (MAURITIUS) PTE LTD 22,950,000 1.79 7. 22,441,000 1.75 8. 18,913,305 1.48 9. 14,250,000 1.11 10. Mr. TSAI WU-YING 13,153,420 1.03 11. 12,300,000 0.96 12. 11,605,920 0.91 13. UOB KAY HIAN PRIVATE LIMITED 10,000,000 0.78 14. RAFFLES NOMINEES (PTE) LTD 9,851,000 0.77 15. DBS NOMINEES PTE LTD 9,312,000 0.73 16. Mr. PAUL SUMADE LEE 8,906,955 0.70 17. 8,450,000 0.66 18. 8,357,875 0.65 19. STATE STREET BANK AND TRUST COMPANY FOR AUSTRALIA 8,224,600 0.64 20. CITIBANK INTERNATIONAL PLC (LUXEMBOURG BRANCH)-UBS LUXEMBOURG S.A. 7,706,000 0.60 744,491,841 58.16 : () CDP . 31 2554 . 31 2554 1. (1), (2) 168,523,970 255,302,060 2. 9,181,475 - 3. (3) 7,410,825 4,300,000 4. 100,000 - 5. (4) 14,250,000 3,246,500 6. (5) 8,906,955 18,615,075 7. 22,441,000 - 8. (6) 450,060 17,940 9. - - 10. - - 11. (7) - 1,100,000

( ) 39

: (1) . 4,924,140 55.96

. 31.7 . .

(2) 8,450,000 246,852,060 .

(3) 4,300,000 (4) 3,246,500 (5) 18,615,075 (6) 17,940 (7) 1,100,000 31 2554

() . 168,523,970 - . 1 - . .. 1 - . 1 - . 1 - . 1 - . 1 - . 9,181,475 - . 1 - . 7,410,825 - . 1 - . 100,000 - . 1 - . 14,250,000 - . .. 1 - . 1 - . 1 - . 8,906,955 - . 22,441,000 - . 450,060 - . - - . - - . 1,100,000 - : (1)

()

40 2 5 5 4

( ) 41

. . 30 . . (Joint Venture) . .

42 2 5 5 4

. 31 2554 . 5 . . 31 2554 . 11 1. / / 2. / 3. / 4. / 5. / / 6. / 7. 8. / / 9. / / / 10. / / / 11. . .

( ) 43

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1. 2.

3.

4.

. 400,000 4,800,000 2 6 2553 6 2555 6 2555 . 2/2555 9 2555 2 6 2557 400,000 4,800,000 . . 1. .

. . . 3

2. .

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44 2 5 5 4

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5. . .

6. . . . . ...

( )

7. . . .

. ...

8. . . ...

9. .

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46 2 5 5 4

.

11. . 2005 (Code of Corporate Governance) 31 2554 6 1. 2. 3. 4. 5. 6. . 1. . .

2. 3.

. .

4.

5. . . ( ... ) /

. . 3 31 2554 .

( ) 47

1. 2. 3. . 1. ( .

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3. . .

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6. . (1) . (2) . (3)

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9. . 10. ()

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11. . 31 2554 . 3 1. 2. 3. 1. ()

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( ) 49

. . 31 2554 . 3 1. 2. 3. . 2553 2554

. 3 3

2553 2554 2553 2554 2553 2554 2553 2554 2553 2554

1. 8/9 7/7 3/3 8/8 - - - - - - 2. 8/9 7/7 3/3 8/8 - - - - - - 3. 9/9 7/7 3/3 8/8 - - - - - - 4. 9/9 6/7 3/3 8/8 - - - - - - 5. 9/9 7/7 3/3 8/8 - - - 1/1 - - 6. (1) 3/4 7/7 3/3 8/8 - - - - - - 7. (2) 6/6 7/7 - - - - - - - - 8. 9/9 7/7 - - 8/8 7/7 - - - 1/1 9. 9/9 7/7 - - 8/8 7/7 - 1/1 - 1/1 10. 9/9 7/7 - - 8/8 7/7 - 1/1 - 1/1 11. (1) 4/4 6/7 - - - - - - - - : 1 . 1/2553 28 2553 2 . 2553 28 2553 3 2553

2553

50 2 5 5 4

(* ... . 17/2551 ) 31 2554 .

1. 2. 3. 4. 5. 6. 7. 8. 9. 10. 11. 12. 13. 14. 15. 16. 17. 18. 19. 20. (Miss Lim Li Ping) Controller 21. (CFO) : *

1. .

200,000,000 () 2. .

3.

4. . .

5. .

6. .

( ) 51

7. . /

. . . ... (Compliance) . . . (1) . 31 2554 . 5,472,000 () 31 2554 1. 576,000 2. 432,000 3. 432,000 4. 432,000 5. 432,000 6. 432,000 7. 432,000 8. 720,000 9. 576,000 10. 576,000 11. 432,000 (2) . 31 2554 19 192,184,217 : *

52 2 5 5 4

5 . 31 2554 (1) ( . )

() () () () 1. Band N 0.75 25.54 73.72 100 2. Band B 4.52 53.28 42.20 100 3. Band B 5.53 52.72 41.75 100 4. Band A 23.22 42.85 33.94 100 5. Band B 4.15 60.40 35.45 100 6. Band I 0.83 15.55 83.62 100 7. Band A 100 - - 100 8. Band A 100 - - 100 9. Band A 100 - - 100 10. Band A 100 - - 100 11. Band A 100 - - 100 5 1. Band B - 51.69 48.31 100 2. Band A - 61.01 38.99 100 3. Band A - 61.01 38.99 100 4. Band A - 61.01 38.99 100 5. Band A - 61.01 38.99 100 : (1) : A 1 250,000 B 250,001 500,000 C 500,001 750,000 D 750,001 1,000,000 E 1,000,001 1,250,000 F 1,250,001 1,500,000 G 1,500,001 1,750,000 H 1,750,001 2,000,000 I 2,000,001 2,250,000 J 2,250,001 2,500,000 K 2,500,001 2,750,000 L 2,750,001 3,000,000 M 3,000,001 3,250,000 N 3,250,001 3,500,000 (-)

1 24.2591

( ) 53

Sri Trang International (Profit Incentive Scheme) (

)

(Profit Incentive Scheme) (Profit Incentive Scheme) Sri Trang International (Profit Incnetive Scheme) Sri Trang International (Surplus) () 10 Sri Trang International 8.0 Sri Trang International () 5 () Sri Trang International () 20 (Surplus) (Profit Incentive Scheme) ( (Profit Incentive))

1. 27 2536 28 2553 2. 27 2536 28 2554 3. 27 2536 28 2554 4. 5 2536 28 2554 5. 10 2538 29 2552 6. 28 2553 - 7. 28 2553 - 8. 27 2536 28 2553 9. 25 2543 28 2554 10. 1 2551 29 2552 11. 28 2553 -

54 2 5 5 4

( ) 55

. . 2549 2005 (Code of Corporate Governance) 2549 . 2549 5 1. . .

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56 2 5 5 4

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( ) 57

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58 2 5 5 4

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5. 1.

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. . .

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3. . 1 24 / .

4. . . . () . .

. . . 2005 (Code of Corporate Governance) 1: . 2553 2554

62 2 5 5 4

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4: -

( ) 63

. . - .

3 1. . . . 2. NAC Consultancy Tan Chong Services International Limited* : * Tan Chong International Limited Hong Kong Stock Exchange 5: 6:

64 2 5 5 4

7: 8: 9:

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( ) 65

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66 2 5 5 4

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( ) 67

.

. .

. .

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68 2 5 5 4

()

14: 15: . . . - 2549 - - 2549 -

( ) 69

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70 2 5 5 4

( ) 71

72 2 5 5 4 72 2 5 5 4

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( ) 93

1.2 :

2554 2553 2552 133,703.8 83,845.3 45,909.8 (127,941.3) (78,678.5) (42,375.3) 5,762.5 5,166.8 3,534.5 165.2 77.2 105.9 (3,199.9) (1,780.7) (1,437.0) (1,032.4) (576.5) (539.5) () (22.7) 925.5 538.0 () - 505.7 (10.4) (324.7) 2,178.4 3,801.8 1,877.1 648.9 702.8 744.5 2,827.3 4,504.7 2,621.7 16.2 6.2 6.0 (885.0) (397.7) (329.9) - (868.8) (391.5) (323.8) 1,958.5 4,113.2 2,297.8 (629.2) (272.7) (115.4) 1,329.3 3,840.5 2,182.5 1,306.2 3,819.6 2,142.0 23.0 20.9 40.5 1.3

:

2554 2553 2552 1,958.5 4,113.2 2,297.8 () 139.8 (462.7) (257.3) 749.0 79.7 - - - (56.4) () 31.2 (36.4) 31.6 () 869.6 (1.0) (683.6) - 18.4 - - 15.7 15.8 7.8 476.1 366.0 341.9 7.1 6.0 8.0 5.2 - - 885.0 397.7 329.9 (1.2) (17.6) (0.6) - - 0.1 (648.9) (702.8) (744.5) (15.4) - -

94 2 5 5 4

:

2554 2553 2552 () (8.0) 6.7 3.2 () (1,565.8) (1,946.3) (1,448.0) (271.4) 177.5 118.4 2,076.2 (10,108.2) (5,057.1) (138.7) (18.2) 93.0 0.7 (25.8) (22.8) () (490.4) 1,068.0 1,042.1 0.1 234.8 56.5 () 4,093.1 (6,853.9) (3,940.0) (878.2) (390.2) (328.0) (628.2) (284.9) (110.0) () 2,586.7 (7,528.9) (4,378.0) (62.9) - - () - 0.3 (0.0) (18.0) (42.0) (27.0) (0.1) (0.0) - 75.8 749.0 270.3 (30.3) - - 162.5 37.5 16.5 (2,844.1) (1,383.8) (788.9) (9.4) (13.5) (6.8) (6.8) - - - - 1.5 - 19.1 - () (2,733.4) (633.4) (534.4) () (4,854.1) 8,163.5 5,016.1 62.3 1,609.6 - (2,695.9) (192.4) - 2,150.0 - - (21.9) (16.8) (13.2) - (8.0) - (1,600.0) (600.0) (200.0) 7.2 - 2.7 8,034.9 - - (436.7) - - () 645.7 8,955.9 4,805.6 - 499.1 793.6 (106.7) 1,774.0 980.4 1,087.1 2,273.0 1,774.0 980.4

( ) 95

1.4 2554 2553 2552 1.46 1.17 1.13 0.52 0.32 0.36 0.12 (0.39) (0.37) 1 20.38 17.05 13.36 17.67 21.11 26.94 2 6.80 5.17 5.80 52.93 69.68 62.04 3 55.75 38.54 40.17 6.46 9.34 8.96 Cash Cycle 64.14 81.45 80.02 4.31 6.16 7.70 1.63 4.53 4.09 1.19 (1.98) (2.33) 0.98 4.56 4.67 (ROE)4 9.19 43.01 33.53 (ROA)5 3.35 12.57 11.19 6 28.09 88.50 62.03 7 21.07 17.73 11.47 8 3.43 2.76 2.40 1.12 2.45 2.00 1.24 2.62 2.14 4.63 (17.25) (11.92) 0.21 (3.43) (4.34) n.a. 41.66 27.49 : 1 2 3 4 5 6 7 8

96 2 5 5 4

2. 2554 1 3 1) 2554 2) 4 3) (cess) 1.40 5.00 1 2553 4) 2553 BOI 2554 133,703.8 59.5 41.2 13.3 2554 951,935 13.3 17.0 40.1 27.0 317,513 3.2 2 2554 5,762.5 11.5 2554 4.3 6.2 2554 869.6 2554 6,632.1 5.0 3.6 5.9 4.7

( ) 97

2554 2,178.4 42.7 3,801.8 2554 1.6 4.5 (cess) 1.40 5.00 1 2553 1,392.4 211.6 2554 1,329.3 65.4 2554 1.0 4.6 2553 BOI

1.

20 3 2554 4 2554 TSR 31 2554 3,270 4,504 37.8 869.6 2554 TSR20 RSS3 Singapore Commodity Exchange Limited (SICOM) 2554

( : ) RSS3 TSR20 2553 2554 / 2553 2554 / 1 3,195 5,688 78% 3,103 5,216 68% 2 3,731 5,290 42% 3,023 4,668 54% 3 3,374 4,652 38% 3,141 4,564 45% 4 4,328 3,598 -17% 4,259 3,579 -16% 3,665 4,802 31% 3,390 4,504 33% 31 .. 54 5,000 3,275 5,000 3,270

:

4/01/5

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3/53 4/0

4/53 4/0

5/53 4/0

6/53 4/0

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1/54 4/0

2/54 4/0

3/54 4/0

4/54 4/0

5/54 4/0

6/54 4/0

7/54 4/0

8/54 4/0

9/54 4/1

0/54 4/1

1/54 4/1

2/54

7,000 6,500 6,000 5,500 5,000 4,500 4,000 3,500 3,000 2,500

RSS TSR

Q1 10 Q2 10 Q3 10 Q4 10 Q1 11 Q2 11 Q3 11 Q4 11

98 2 5 5 4

2.

31.46 2553 30.25 2554 3.9 2554 22.7 2553 925.5 618.1 2554 595.4 3. 2554 TSR 40.4 2553 2554 1.25 2554 3.5 477.3 121.9 391.5 868.8 2553 -2554 MLR 3

MLR

:

MLR 2554

STA 2554

STA 2553

MLR 2553

8% 7% 6% 5% 4% 3% 2%

.. .. .. .. .. .. .. .. .. .. .. ..

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3/53 4/0

4/53 4/0

5/53 4/0

6/53 4/0

7/53 4/0

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1/54 4/0

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7/54 4/0

8/54 4/0

9/54

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34 33 32 31 30 29

Q1 10 Q2 10 Q3 10 Q4 10 Q1 11 Q2 11 Q3 11 Q4 11

( ) 99

4. - 2554 10 648.9 . 56.8 . 24.9 . 15.3 7.7 (Butadiene Nitrile) (NR gloves) (NBR gloves) . (NR gloves) . STR . 2553 129.5 37.9

() 2554 2553 % YoY 24,942.8 15,046.4 65.8% % 18.7% 17.9% 96,138.6 58,909.1 63.2% % 71.9% 70.3% 10,236.6 8,168.8 25.3% % 7.7% 9.7% 1 2,385.8 1,721.0 38.6% % 1.8% 2.1% 133,703.8 83,845.3 59.5% : 1 () () (

)

() 2554 2553 % YoY 165,154 140,206 17.8% % 17.3% 16.7% 675,648 581,212 16.2% % 71.0% 69.2% 111,132 119,044 -6.6% % 11.7% 14.2% 951,934 840,462 13.3%

100 2 5 5 4

2554 ()

1

24,942.8 100.0 96,138.6 100.0 10,236.6 100.0 2,385.8 100.0 133,703.8 100.0 23,462.7 94.1 92,643.7 96.4 9,755.9 95.3 2,079.1 87.1 127,941.3 95.7 1,480.1 5.9 3,495.0 3.6 480.7 4.7 306.7 12.9 5,762.5 4.3

2553 ()

1

15,046.4 100.0 58,909.1 100.0 8,168.8 100.0 1,721.0 100.0 83,845.3 100.0 14,131.5 93.9 55,183.2 93.7 7,877.5 96.4 1,486.3 86.4 78,678.5 93.8 914.9 6.1 3,725.9 6.3 291.3 3.6 234.7 13.6 5,166.8 6.2 : 1 () () (

)

133,703.8 98.2 131,318.0 96,138.6 71.9 24,942.8 18.7 10,236.6 7.7 2,385.8 1.8 RSS (Ribbed Rubber Sheet) 65.8 2553 40.7 17.8 2553 66.0 2554 61.5 2554 1,480.1 61.8 2554 5.9 6.1 6.2

( ) 101

TSR (Technical Specified rubber) 63.2 40.4 16.2

67.9 2553 4 2554 732.3 2554 2554 3,495.0 6.2 2554 3.6 6.3 4.4 (Concentrated Latex) 25.3 34.2 6.6 (Butadiene Nitrile) 23.8 75.9 2554 480.7 65.0 2554 4.7 3.6 2553 5.4 31 2554 619.3 2.1 28,951.0 31 2553 28,331.7 31 2554 2,945.8 2554 1,547.7 499.1 271.4

102 2 5 5 4

31 2554 3,375.8 38.8 8,704.7 31 2553 12,080.5 31 2554 2,262.2 () ( )

638.4 407.4 31 2554 () 2,539.2 76.0 2,036.6 4,651.8 31 2554 5,316.9 21.5 24,787.6 31 2553 19,470.6 31 2554 5,027.0 498.4 1 477.6 618.8 31 2554 434.1 17.5 2,476.7 31 2553 2,910.7 31 2554 2,150.0 ( 1 ) 1,911.2 190.4 31 2554 7,639.4 73.5 10,391.5 31 2553 18,030.9 31 2554 7,707.2 () 31 2554 2,273.0 499.1 28.1 31 2553 1,774.0

( ) 103

4,482.3 389.2 1,565.8 271.4 490.4

2,076.2 1,506.4 2,586.7 2,733.4 2,844.1 () 75.8 162.5 645.7 7,598.1 () 2,150.0 2,695.9 4,854.1 1,600.0 (Current ratios) 31 2554 31 2553 1.46 1.17 (Fixed asset turnover ratio) () 31 2554 31 2553 21.07 17.73 (Return on assets ROA) () 31 2554 31 2553

104 2 5 5 4

3.35 12.57 (Return on equity ROE) () 31 2554 31 2553 9.19 43.01 (Debt to equity ratio D/E) 31 2554 31 2553 1.24 2.62 3. (Audit Fee) . . 2554 4,370,000 143,000 . 1,410,000 37,600 (Non-Audit Fee) 4. 70 2555 (IMF) 2554 2555 3.3 3.9 (Emerging markets) 5.4 5.9 8.2 8.8

( ) 105

2555 31 2554 1.1 2555 1.27 1.5 2556 3 31 2554 17,400 250 6,900 2559 10,250 2555 50,000 2557 31 2554 7,700 2 2,150

106 2 5 5 4

( ) 107

() 3 2 3 1. 2. 3. 2554 7

2554

2555 2555

( ) 23 2555

108 2 5 5 4

2554 336 31 2554 ( ( ( ) (1) ) (1) ) (1)

204.75 73.16 131.59 63.00 34.04 28.96 / 47.25 47.25 - 21.00 19.50 1.50 336.00 173.95 162.05

: (1) 1 24.1566 Monetary Authority of Singapore 20 2554

109

31 .. 2554

110 2 5 5 4

() 31 .. 2554 .. 2553 () () 31 .. 2554 .. 2553 () () 2 3 6 1 .. 2554 1 .. 2554 12 31 .. 2553 3257 24 .. 2555

( ) 111

() () 31 31 31 31 .. 2554 .. 2553 .. 2554 .. 2553 8 2,273,020,951 1,773,962,249 766,433,932 686,844,087 9 329,304,538 459,558,936 44,430,250 98,248,193 - 10, 37.3 7,787,446,884 6,239,766,690 6,125,343,153 3,947,756,981 37.3 406,419,876 135,054,146 115,479,473 84,046,854 - 11 17,336,596,468 20,282,433,067 6,570,252,082 10,505,003,800 12 198,898,231 60,247,004 36,283,658 30,136,709 28,331,686,948 28,951,022,092 13,658,222,548 15,352,036,624 37.3 62,905,000 - 62,905,000 - 13 143,483,323 125,444,193 12,594,670 12,550,742 14 - - 5,130,765,514 2,553,696,099 14 3,122,562,093 2,615,422,132 709,802,500 679,507,500 14 456,500,685 325,283,320 20,099,800 20,099,800 15 43,652,348 46,267,525 42,778,669 45,105,924 - 16 7,475,597,194 5,213,369,663 2,690,400,416 2,130,526,410 - 17 24,204,164 21,700,028 10,651,107 10,566,822 18 102,327,410 48,031,578 22,850,000 22,850,000 76,624,253 143,304,822 38,724,575 120,310,910 19 537,688,934 130,263,643 124,956,144 12,853,715 20 34,982,831 35,643,792 8,115,155 10,561,720 12,080,528,235 8,704,730,696 8,874,643,550 5,618,629,642 40,412,215,183 37,655,752,788 22,532,866,098 20,970,666,266

() 31 .. 2554 .. 2553

122 197

112 2 5 5 4

() () 31 31 31 31 .. 2554 .. 2553 .. 2554 .. 2553 22 15,425,613,869 20,452,626,308 4,551,591,000 10,641,378,000 21, 37.3 2,543,715,563 3,042,117,125 1,537,325,200 1,207,522,195 22 120,000,000 597,610,000 - 575,000,000 22 11,451,377 17,165,140 6,361,631 10,505,841 9 1,112,238,950 493,487,531 541,893,664 65,410,102 192,381,061 119,671,329 154,380,736 - 23 65,235,361 64,908,153 41,273,833 43,824,820 19,470,636,181 24,787,585,586 6,832,826,064 12,543,640,958 22 314,860,000 2,226,050,000 - 2,031,250,000 22 2,150,000,000 - 2,150,000,000 - 22 12,309,850 22,927,273 8,000,715 13,531,353 19 328,763,683 138,402,245 106,875,360 71,649,954 24 104,787,664 89,285,660 41,923,427 37,865,261 2,910,721,197 2,476,665,178 2,306,799,502 2,154,296,568 22,381,357,378 27,264,250,764 9,139,625,566 14,697,937,526

() () 31 .. 2554 .. 2553

122 197

( ) 113

() () 31 31 31 31 .. 2554 .. 2553 .. 2554 .. 2553 () 25 1,280,000,000 1 (.. 2553 : 1,280,000,000 1 ) 1,280,000,000 1,280,000,000 1,280,000,000 1,280,000,000 1,280,000,000 1 (.. 2553 : 1,000,000,000 1 ) 1,280,000,000 1,000,000,000 1,280,000,000 1,000,000,000 25 8,550,989,821 1,123,800,000 8,550,989,821 1,123,800,000 (173,134,488) (173,134,488) - - - 27 833,185,039 850,018,523 541,438,028 610,628,497 27 600,390 3,022,987 159,618 2,299,988 27 (120,534,770) (283,842,793) - - - 26 128,000,000 100,000,000 128,000,000 100,000,000 7,437,342,052 7,729,396,328 2,892,653,065 3,436,000,255 17,936,448,044 10,349,260,557 13,393,240,532 6,272,728,740 94,409,761 42,241,467 - - 18,030,857,805 10,391,502,024 13,393,240,532 6,272,728,740 40,412,215,183 37,655,752,788 22,532,866,098 20,970,666,266

() () 31 .. 2554 .. 2553

122 197

114 2 5 5 4

() () .. 2554 .. 2553 .. 2554 .. 2553 30 133,703,841,648 83,845,328,841 76,862,112,971 44,040,706,709 (127,941,331,065) (78,678,531,873) (71,835,474,372) (41,121,586,298) 5,762,510,583 5,166,796,968 5,026,638,599 2,919,120,411 31 165,216,010 77,162,994 154,464,019 394,750,751 (3,199,881,826) (1,780,698,903) (2,810,039,869) (1,316,673,395) (1,032,413,541) (576,498,371) (387,173,776) (220,138,655) () (22,692,004) 925,460,794 (42,330,407) 808,609,694 () - 33 505,657,843 (10,390,619) 73,879,860 103,543,834 2,178,397,065 3,801,832,863 2,015,438,426 2,689,212,640 14 648,938,352 702,833,127 - - 2,827,335,417 4,504,665,990 2,015,438,426 2,689,212,640 16,173,685 6,160,470 4,634,173 2,756,402 (884,996,710) (397,660,146) (418,916,472) (239,203,958) - 32 (868,823,025) (391,499,676) (414,282,299) (236,447,556) 1,958,512,392 4,113,166,314 1,601,156,127 2,452,765,084 34 (629,241,543) (272,661,891) (534,576,925) (86,033,514) 1,329,270,849 3,840,504,423 1,066,579,202 2,366,731,570 - 35,556,592 - - - (16,591,686) - (45,073,286) - - (6,215,786) - (6,215,786) - - (2,308,390) 8,395,782 (1,968,159) 7,855,168 166,821,447 (234,636,825) - - () 177,262,177 (226,241,043) (53,257,231) 7,855,168 () 1,506,533,026 3,614,263,380 1,013,321,971 2,374,586,738

() 31 .. 2554 .. 2553

122 197

( ) 115

() () .. 2554 .. 2553 .. 2554 .. 2553 1,306,248,913 3,819,626,625 1,066,579,202 2,366,731,570 23,021,936 20,877,798 - - 1,329,270,849 3,840,504,423 1,066,579,202 2,366,731,570 () 1,479,997,666 3,600,329,184 1,013,321,971 2,374,586,738 26,535,360 13,934,196 - - () 1,506,533,026 3,614,263,380 1,013,321,971 2,374,586,738 35 1.04 3.82 0.85 2.37

() () 31 .. 2554 .. 2553

122 197

116 2 5 5 4

(

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9 10,4

14,663

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8 42,

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0 1,5

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18,428

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280

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122

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( ) 117

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23,361

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36,270

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7,368,

770,86

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14,229

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36,270

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7,385,

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19,626

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20,877

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3,840,

504,42

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60,248

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95,782

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95,782

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7,693,0

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(6,943,

743)

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60,248

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43,743

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4,460,

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8,395,

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3,815,

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7 13,

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5 3,6

14,263

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3

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29,396

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42,241

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31

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2554

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53

122

197

118 2 5 5 4

(

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1,000,

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106,91

8 6,2

98,686

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42,893

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1

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2,299,

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5 6,2

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- -

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66,579

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1,066,

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2

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(44,90

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(45,073

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(6,215,

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(69,19

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18,073

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13,321

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25 280

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00 7,4

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1 4,5

07,176

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6 -

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90,739

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0 605

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74,377

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2

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66,731

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5,108,

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7,855,

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31

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31

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2554

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53

122

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120 2 5 5 4

() () .. 2554 .. 2553 .. 2554 .. 2553 1,958,512,392 4,113,166,314 1,601,156,127 2,452,765,084 () 139,816,666 (462,736,541) - 23,223,129 () 749,005,815 79,717,272 530,301,505 (39,414,130) () 31,216,341 (36,441,260) 31,400,605 (389,027) () 869,632,841 (953,235) 111,752,672 - - 18,428,927 - - - 24 15,733,004 15,750,990 4,289,165 4,281,939 16 476,131,295 365,979,363 176,309,029 176,275,533 17 7,126,804 5,988,056 3,170,907 2,662,813 5,248,890 - - - 32 884,996,709 397,660,146 418,916,472 239,203,958 31 (1,176,655) (17,597,956) (70,808,511) (355,580,872) 14 (648,938,352) (702,833,127) - - 18 (15,436,844) - - - () 31 (7,983,952) 6,720,587 (16,895,220) 1,918,684 () - (1,565,760,111) (1,946,286,181) (2,208,986,779) (1,070,607,051) - (271,365,729) 177,527,206 (31,432,619) (103,738,721) - 2,076,203,759 (10,108,240,868) 3,822,999,047 (3,819,340,772) - (138,651,228) (18,183,997) (6,146,949) (9,933,487) - 660,961 (25,827,563) 2,446,565 (2,756,120) () - (490,361,103) 1,067,971,964 325,081,784 373,521,948 - 96,208 234,763,562 (2,781,989) 5,838,841 () 4,093,136,638 (6,853,855,268) 4,690,771,811 (2,122,068,251) (878,201,511) (390,182,248) (410,550,758) (235,644,557) (628,224,496) (284,864,571) (310,011,366) (69,450,881) () 2,586,710,631 (7,528,902,087) 3,970,209,687 (2,427,163,689)

() 31 .. 2554 .. 2553

122 197

( ) 121

() () .. 2554 .. 2553 .. 2554 .. 2553 (62,905,000) - (62,905,000) - - 261,023 - 261,023 (18,039,129) (41,956,721) (43,929) (82,168) 15 (60,000) (30,000) - - 75,826,355 748,955,456 70,808,511 670,580,872 14 (30,295,000) - (2,607,364,415) (454,650,140) 162,479,985 37,512,163 36,870,407 32,532,876 (2,844,121,981) (1,383,763,899) (761,596,824) (179,898,179) (9,422,235) (13,486,945) (3,255,191) (8,203,468) 18 (6,823,591) - - - 14.2 - 19,125,000 - 16,875,000 ( ) (2,733,360,596) (633,383,923) (3,327,486,441) 77,415,816 () (4,854,142,602) 8,163,500,477 (6,089,787,000) 2,052,995,000 62,260,000 1,609,600,000 - 1,200,000,000 (2,695,860,000) (192,415,267) (2,606,250,000) (93,750,000) 2,150,000,000 - 2,150,000,000 - (21,886,946) (16,840,277) (15,230,608) (6,637,345) - (7,962,750) - - 36 (1,600,000,000) (600,000,000) (1,600,000,000) (600,000,000) 7,204,008 - - - 8,034,868,800 - 8,034,868,800 - (436,734,593) - (436,734,593) - ( ) 645,708,667 8,955,882,183 (563,133,401) 2,552,607,655 - 499,058,702 793,596,173 79,589,845 202,859,782 1,773,962,249 980,366,076 686,844,087 483,984,305 8 2,273,020,951 1,773,962,249 766,433,932 686,844,087 : (2,843,497,000) (1,441,627,428) (766,763,284) (217,346,812) 5,555,760 29,374,610 5,555,760 20,064,200 (15,602,976) 15,001,974 (3,644,491) 9,180,965 (2,853,544,216) (1,397,250,844) (764,852,015) (188,101,647)

() () 31 .. 2554 .. 2553

122 197

122 2 5 5 4

1 () () 22 .. 2534 10 10 31 .. 2554 ( ) 24 .. 2555

2

.. 2543 .. 2547 4 31 .. 2554 31 .. 2554 30 .. 2554 (www.sgx.com) 10 .. 2554 3.2 3.13 3 .. 2554 1 .. 2554 12 1 .. 2556 3.13.4 107 ( 48 ) 3.13

31 .. 2554 .. 2553

( ) 123

7 .. 2554 .. 2554 31 .. 2553

31 31 .. 2553 .. 2553 - - - - 5,611,477 2,956,296 - 91,211 658,406 - 184,466 107,117 - 323,028 225,831 - 29,585 107 - 6,239,767 3,947,757 - 31,223 - - 81,275 81,275 - 22,556 2,772 135,054 84,047 - 1,689,078 842,170 - 849,450 243,723 247,160 119,976 - 97,267 19 - 159,162 1,634 3,042,117 1,207,522

124 2 5 5 4

3

3.1

1 .. 2554 / / / 1 .. 2554 1 ( 2552) 2 ( 2552) 7 ( 2552) 8 ( 2552) 10 ( 2552) 11 ( 2552) 16 ( 2552) 17 ( 2552) 18 ( 2552) 19 23 ( 2552) 24 ( 2552) 26 27 ( 2552) 28 ( 2552) 29 31 ( 2552) 33 ( 2552) 34 ( 2552) 36 ( 2552) 37 ( 2552) 38 ( 2552) 40 ( 2552) 2 3 ( 2552)

( ) 125

5 ( 2552) 6 15

1 .. 2554 31 .. 2554 1 ( 2552)

( ) 1 .. 2554 1 ( 2552) -

31 .. 2553

- 1 ( 2552) 16 ( 2552)

16

126 2 5 5 4

40 ( 2552) 1 .. 2554 40 ( 2552) 6.1

3.2 1 .. 2556 12 21 - 25 - 6.2 20 ( 2552) 21 ( 2552) 10 - 1 .. 2556

( ) 127

3.3 - (1)

( ) 14.1

(2)

128 2 5 5 4

(3) 20 50 () 14.2

(4)

( ) 129

14.3

3.4

3.5 ( )

130 2 5 5 4

3.6

3.7

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3 (2)

12

(3) 12

(4)

( ) 131

3.9 () 5 () ()

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132 2 5 5 4

3.10 3 - 5

3.11

3.12

( ) 133

3.13 3.13.1

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12

(2)

12

(3)

134 2 5 5 4

12

(4)

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( ) 135

( ) ( )

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136 2 5 5 4

3.13.2

3.13.3 ( )

3.13.4 , ,

3.14 ()

( ) 137

12

3.15 - 1 ( )

3.16

()

138 2 5 5 4

3.17 ()

() ( Projected Unit Credit) (Actuarial Technique) .. 2554 .. 2554

3.18

( ) 139

3.19

3.20 ()

() ()

() ()

3.21

3.22

140 2 5 5 4

4 4.1

16

4.2

4.3 () 24 29

( ) 141

5 5.1

( ) (hedge accounting) ()

1. 3

.. 2554 .. 2553 .. 2554 .. 2553

- (47,926) 57,854 (150,588) (104,854) - 47,926 (57,854) 150,588 104,854 - (57,273) (47,326) - - - 57,273 47,326 - -

142 2 5 5 4

2.

10

.. 2554 .. 2553 .. 2554 .. 2553

680,885 414,472 73,632 10,086

5 (.. 2553 : 21)

.. 2554 .. 2553 .. 2554 .. 2553

- 1,786 7,519 1,953 7,448

3.

/ 0.5 /

.. 2554 .. 2553 .. 2554 .. 2553

17,906 30,572 - 12,500

( ) 143

()

()

1 1 2 2 5 5

31 .. 2554 15,505,145 - - - 2,051,590 - - - 339,086 - - - 142,629 128,067 215,663 - - - 1,811,393 679,392 12,540 9,523 3,261 - - - (29,700) - - - - 137,831 - - - - (2,742,222) - - - - () 14,460,613 - - - - () (14,861,738) - - - - 2,808,091 - - - - (1,120,707) - - -

144 2 5 5 4

1 1 2 2 5 5

31 .. 2553 20,512,862 - - - 2,538,527 - - - 247,160 - - - 751,942 2,311,696 2,682,259 - 18,840 12,657 11,447 - - - 612,506 - - - - (661,774) - - - - () 12,648,605 - - - - () (12,526,831) - - - - ( ) 284,969 - - - - ( ) (300,063) - - - - 1,756,404 - - - - (1,114,042) - - -

1 1 2 2 5 5

31 .. 2554 4,581,022 - - - 1,390,506 - - - 140,549 - - - - - 1,811,393 679,392 7,055 6,172 2,180 - - - (29,700) - - - - (736,317) - - - - () 13,430,465 - - - - () (13,798,546) - - -

( ) 145

1 1 2 2 5 5

31 .. 2553 10,677,954 - - - 1,085,893 - - - 119,976 - - - 589,748 - 2,323,795 - 11,540 5,667 8,504 - - - (100,864) - - - - () 12,099,050 - - - - () (11,977,248) - - -

5.2

31 .. 2554 .. 2553

() () .. 2554 .. 2553 .. 2554 .. 2553

22,381,357 27,264,251 9,139,626 14,697,938 (2,273,021) (1,773,962) (766,434) (686,844) 20,108,336 25,490,289 8,373,192 14,011,094 18,030,858 10,391,502 13,393,241 6,272,729 1.12 2.45 0.63 2.23

146 2 5 5 4

5.3 1 : 2 :

1

3 :

1 2 3

31 .. 2554 - 33,225 - 10,427 43,652 - - 329,305 - 329,305 - - 1,112,239 - 1,112,239 31 .. 2553 - 35,841 - 10,427 46,268 - - 459,559 - 459,559 - - 493,488 - 493,488

1 2 3

31 .. 2554 - 32,352 - 10,427 42,779 - - 44,430 - 44,430 - - 541,893 - 541,893

( ) 147

1 2 3

31 .. 2553 - 34,679 - 10,427 45,106 - - 98,248 - 98,248 - - 65,410 - 65,410

1 1 ( ) 2 3 3 (.. 2553 : )

148 2 5 5 4

6 31 .. 2553 31 .. 2553 6.1 3.11 6.2 3.16 6.3 3.13

() () 31 31 .. 2553 6.1 6.2 6.3 .. 2553 - 9 - - - 459,559 459,559 2,596,516 - 17,698 1,208 2,615,422 19 - - 129,024 1,240 130,264 - 48,032 - - 48,032 22,850 (22,850) - - - 25,182 (25,182) - - - - 9 - - - 493,488 493,488 19 - - 138,402 - 138,402 - 974,059 (10,318) (113,722) - 850,019 3,338 - (315) - 3,023 (268,300) - (5,746) (9,797) (283,843) 7,612,690 10,318 128,103 (21,715) 7,729,396 42,211 - - 30 42,241

( ) 149

() () 1 1 .. 2553 6.1 6.2 6.3 .. 2553 - 1,010,671 (10,318) (154,795) - 845,558 (6,200) - 827 - (5,373) (45,997) - (498) (9,655) (56,150) 4,323,361 10,318 131,373 49,178 4,514,230

() () 31 31 .. 2553 6.1 6.2 6.3 .. 2553 695,860 - 3,528 3,445 702,833 () 878,783 - - 46,678 925,461 () - 96,464 - - (106,855) (10,391) (292,806) - 18,905 1,239 (272,662) 3,873,564 - 22,433 (55,493) 3,840,504 () 3.85 - 0.02 (0.05) 3.82 () () 31 31 .. 2553 6.1 6.2 6.3 .. 2553 - 9 - - - 98,248 98,248 19 - - 11,615 1,239 12,854 - 22,850 - - 22,850 22,850 (22,850) - - - - 9 - - - 65,410 65,410 19 - - 71,650 - 71,650 - 679,264 (10,318) (58,317) - 610,629 2,516 - (216) - 2,300 3,393,107 10,318 (1,502) 34,077 3,436,000

150 2 5 5 4

() () 1 1 .. 2553 6.1 6.2 6.3 .. 2553 - 706,108 (10,318) (90,270) - 605,520 (6,369) - 814 - (5,555) 1,583,638 10,318 86,997 (6,576) 1,674,377

() () 31 31 .. 2553 6.1 6.2 6.3 .. 2553 () 754,760 - - 53,850 808,610 () - 117,980 - - (14,436) 103,544 (30,726) - (56,546) 1,239 (86,033) 2,382,625 - (56,546) 40,653 2,366,732 () 2.38 - (0.05) 0.04 2.37 7

2 (1) :

(2) :

2 5 (.. 2553 : 5 ) 31 .. 2554

( ) 151

102,101,730 16,191,252 40,588,541 8,100,811 1,240,027 2,532,336 - 170,754,697 (21,951,874) (11,579,225) (2,658,345) - - (861,411) - (37,050,855) 80,149,856 4,612,027 37,930,196 8,100,811 1,240,027 1,670,925 - 133,703,842 ( 16 17) (330,918) (117,968) (5,331) (1,254) (1,197) (26,590) - (483,258) 6,170 5,503 2,689 36 758 1,018 - 16,174 (601,471) (188,042) (50,959) (43,329) - (1,196) - (884,997) 648,938 - - - - - - 648,938 (544,157) (77,210) (53,349) 113,019 (2,786) (64,759) - (629,242) () 1,281,567 160,487 161,605 (12,185) 5,254 115,962 (383,419) 1,329,271 31,413,586 3,259,233 6,733,723 3,646,540 249,322 2,961,284 (7,851,473) 40,412,215

31 .. 2553

55,132,328 9,018,961 29,226,344 5,632,972 11,153 1,661,708 - 100,683,466 (6,471,833) (5,960,182) (3,891,174) (22,411) (6,215) (486,322) - (16,838,137) 48,660,495 3,058,779 25,335,170 5,610,561 4,938 1,175,386 - 83,845,329 ( 16 17) (259,924) (83,204) (4,642) (632) (47) (23,518) - (371,967) 3,241 896 1,511 49 37 426 - 6,160 (284,539) (64,835) (30,265) (17,562) - (459) - (397,660) 702,833 - - - - - - 702,833 (154,867) (73,080) 18,566 (19,316) (144) (43,821) - (272,662) () 3,558,553 211,108 333,909 29,972 2,366 95,088 (390,492) 3,840,504 26,962,475 3,287,824 6,192,143 1,961,186 174,906 1,552,543 (2,475,324) 37,655,753

152 2 5 5 4

.. 2554 .. 2553 .. 2554 .. 2553

6,178,424 4,380,154 2,727,889 2,167,091 1,329,547 856,208 - - 102,313 57,224 - - 3,761 1,763 - - 12,356 6,107 - - 7,626,401 5,301,456 2,727,889 2,167,091

8 .. 2554 .. 2553 .. 2554 .. 2553

49,488 81,397 39,040 28,107 2,223,533 1,692,565 727,394 658,737 2,273,021 1,773,962 766,434 686,844

0.1 3.1 (.. 2553 : 0.1 3.5 )

.. 2554 .. 2553 .. 2554 .. 2553

(USD) 1,139,524 631,459 368,610 11,019 (IDR) 192,188 57,619 - - (JPY) 50,865 76,657 - - (SGD) 43,148 11,711 2,456 - (RMB) 85,760 8,310 - - (THB) 761,536 988,206 395,368 675,825 2,273,021 1,773,962 766,434 686,844

( ) 153

9 () .. 2554 .. 2553

- (29,700) - - - (544,460) 100,455 (56,512) 171,365 (40,201) 98,181 (150,697) 157,940 (497,878) 260,923 (286,279) ( 6) 329,305 (1,112,239) 459,559 (493,488)

() .. 2554 .. 2553

- (29,700) - - - (502,328) 98,248 (50,974) 44,430 (9,865) - (14,436) ( 6) 44,430 (541,893) 98,248 (65,410)

.. 2554 .. 2553 .. 2554 .. 2553

(Notional Amount) 935,232 - 935,232 - 14,460,613 12,933,574 13,430,465 12,099,050 2,880,053 1,274,279 736,317 100,864 3,928,798 2,870,445 - -

154 2 5 5 4

10 - .. 2554 .. 2553 .. 2554 .. 2553

- 7,381,482 5,643,108 4,120,582 2,964,143 (63,307) (31,632) (39,248) (7,847) - - 7,318,175 5,611,476 4,081,334 2,956,296 - ( 37.3) 103,140 91,212 1,922,252 658,406 - 7,421,315 5,702,688 6,003,586 3,614,702 88,540 184,466 13,484 107,117 251,091 323,028 107,143 225,831 26,501 29,585 1,130 107 - 7,787,447 6,239,767 6,125,343 3,947,757

31 .. 2554 .. 2553 .. 2554 .. 2553

6,559,515 5,277,954 5,476,819 3,132,733 1 30 828,872 404,114 492,060 369,469 31 60 43,160 23,534 43,131 68,015 61 90 16,522 829 16,092 14,953 91 120 4,163 714 12 29,526 121 365 7,247 289 6,797 6 365 25,143 26,886 7,923 7,847 7,484,622 5,734,320 6,042,834 3,622,549 (63,307) (31,632) (39,248) (7,847) - 7,421,315 5,702,688 6,003,586 3,614,702

31 .. 2554 .. 2553 - -

.. 2554 .. 2553 .. 2554 .. 2553

1 90 751,435 389,298 526,090 280,921 91 365 5,818 51 1,642 51 365 - 1,620 - - 757,253 390,969 527,732 280,972

( ) 155

31 .. 2554 .. 2553 -

.. 2554 .. 2553 .. 2554 .. 2553

47,515 - 27,907 - 1 90 136,586 39,025 25,088 - 91 365 5,593 953 5,167 - 365 25,143 25,265 7,923 7,847 214,837 65,243 66,085 7,847

.. 2554 .. 2553 .. 2554 .. 2553

31,632 68,074 7,847 8,236 40,493 2,237 31,401 186 (8,796) (4,377) - - (22) (34,302) - (575) 63,307 31,632 39,248 7,847 -

.. 2554 .. 2553 .. 2554 .. 2553

(USD) 6,007,317 4,759,360 2,782,907 2,137,446 (RMB) 21,732 - - - (THB) 1,352,433 883,748 1,337,675 826,697 - 7,381,482 5,643,108 4,120,582 2,964,143

156 2 5 5 4

11 - - .. 2554 .. 2553 .. 2554 .. 2553 .. 2554 .. 2553 10,998,589 10,715,743 (869,398) - 10,129,191 10,715,743 3,636,838 2,749,258 (2,302) - 3,634,536 2,749,258 3,483,282 6,758,137 (4,440) (4,484) 3,478,842 6,753,653 94,027 63,779 - - 94,027 63,779 18,212,736 20,286,917 (876,140) (4,484) 17,336,596 20,282,433 - .. 2554 .. 2553 .. 2554 .. 2553 .. 2554 .. 2553 3,493,928 4,904,516 (111,753) - 3,382,175 4,904,516 1,259,676 1,087,570 - - 1,259,676 1,087,570 1,899,051 4,488,554 - - 1,899,051 4,488,554 29,350 24,364 - - 29,350 24,364 6,682,005 10,505,004 (111,753) - 6,570,252 10,505,004

.. 2554 124.21 (.. 2553 : 76.66 ) 31 .. 2554 876.14 ( : 111.75 )

12 .. 2554 .. 2553 .. 2554 .. 2553

86,703 36,888 15,459 10,199 112,195 23,359 20,825 19,938 198,898 60,247 36,284 30,137

( ) 157

13 143.48 (31 ..2553 : 125.44 ) 31 .. 2554 0.1 3.1 (.. 2553 : 0.1 3.5 )

.. 2554 .. 2553 .. 2554 .. 2553

(USD) 106,802 88,853 - - (THB) 36,681 36,591 12,595 12,551 143,483 125,444 12,595 12,551

14 () .. 2554 .. 2553 .. 2554 .. 2553

- 1 2,940,705 2,638,483 3,253,303 2,815,528 - 648,938 702,834 - - 30,295 - 2,607,365 454,650 - (19,125) - (16,875) ( 37.1) (74,650) (329,058) - - (3,469) - - - 37,243 (52,429) - - - 31 3,579,062 2,940,705 5,860,668 3,253,303

158 2 5 5 4

14.1

() .. 2554 .. 2553 Sri Trang International Pte Ltd. 100.00 100.00 Sri Trang USA, Inc. 100.00 100.00 PT Sri Trang Lingga Indonesia 90.00 90.00 . 99.94 99.94 . 99.99 99.99 . 99.99 99.99 . .. 99.99 99.99 . 99.99 99.99 . 99.99 99.99 . 99.99 99.99 . 99.99 99.99 Shi Dong Shanghai rubber 100.00 100.00 Shi Dong Investments Pte Ltd. ( Sri Trang International Pte Ltd.) 100.00 100.00 P.T. Star Rubber ( Shi Dong Investments Pte Ltd.) 99.00 99.00

.. 2554 40 .. 2554 Sri Trang International Pte Ltd. 24 ( 727 ) .. 2554 325 .. 2554 512.5

.. 2554 40 300 .. 2554 512.5 .. 2554 84 36

( ) 159

.. 2553 60 .. 2553 40 .. 2553 80 .. 2553 80 Shi Dong Shanghai Rubber .. 2553 5 ( 154.6 ) .. 2553 40

14.2

( )

() () .. 2554 . 3,079,237 837,488 4,637,184 368,317 40.23 . 545,271 140,770 647,334 98,980 42.50 . 6,791 25 160 77 42.50 Sempermed USA, Inc. 660,504 494,924 1,982,373 34,786 45.12 . 142,136 98,166 11,336 4,788 40.00 Semperflex Shanghai Co.,Ltd 418,401 122,791 192,921 15,536 50.00 Sempermed Singapore Pte Ltd. 151,522 8,176 9,579 6,038 50.00 Sempermed Brazil Comercio 252,697 134,886 474,621 4,569 50.00 Exterior LTDA. ( Sempermed Singapore Pte Ltd.) Shanghai Foremost Plastic 57,819 14,307 106,026 (45,582) 40.23 Industrial Company Limited ( . )

160 2 5 5 4

() () .. 2553 . 2,406,552 554,325 3,987,505 520,784 40.23 . 429,706 81,177 460,043 74,772 42.50 . 6,879 190 634 102 42.50 Sempermed USA, Inc. 421,600 301,449 1,797,830 22,007 45.12 . 99,828 58,395 10,449 2,648 40.00 Semperflex Shanghai Co.,Ltd 318,783 67,065 168,864 21,253 50.00 Sempermed Singapore Pte Ltd. 108,800 8,691 - (2,044) 50.00 Sempermed Brazil Comercio 168,109 28,620 283,119 (8,018) 50.00 Exterior LTDA. ( Sempermed Singapore Pte Ltd.) Shanghai Foremost Plastic 89,624 8,411 159,541 (5,958) 40.23 Industrial Company Limited ( . )

.. 2554 Sempermed Singapore Pte Ltd. 1 ( 30 ) .. 2553 16.9 2.3 100 25

14.3

() () .. 2554 . 1,474,668 1,011,399 7,442,183 161,367 33.50 .. 2553 . 1,684,081 1,327,711 4,922,555 70,314 33.50

( ) 161

15 .. 2554 .. 2553 .. 2554 .. 2553

46,267 36,699 45,106 36,220 60 30 - - (126) - - - (2,549) 9,538 (2,327) 8,886 43,652 46,267 42,779 45,106

.. 2554 .. 2553 .. 2554 .. 2553

31 33,225 35,840 32,352 34,679 10,427 10,427 10,427 10,427 43,652 46,267 42,779 45,106

.. 2554 .. 2553 .. 2554 .. 2553

32,562 32,502 32,163 32,163 663 3,338 189 2,516 33,225 35,840 32,352 34,679 ()

162 2 5 5 4

.. 2554 .. 2553 .. 2554 .. 2553

663 3,338 189 2,516 (63) (315) (29) (216) - ( 27) 600 3,023 160 2,300

.. 2554 .. 2553 .. 2554 .. 2553

10,427 10,427 10,427 10,427

16 -

/ 1