The Annual General Meeting of Shareholders for 2009 - PowerPoint PPT Presentation

Loading...

PPT – The Annual General Meeting of Shareholders for 2009 PowerPoint presentation | free to download - id: 4bd2b8-YjdlZ



Loading


The Adobe Flash plugin is needed to view this content

Get the plugin now

View by Category
About This Presentation
Title:

The Annual General Meeting of Shareholders for 2009

Description:

THE ANNUAL GENERAL MEETING OF SHAREHOLDERS FOR 2009 10 APRIL 2009 SHIN CORPORATION PLC. Selected Information from the Company s Balance Sheets and Statements of ... – PowerPoint PPT presentation

Number of Views:72
Avg rating:3.0/5.0
Slides: 35
Provided by: prakitp
Learn more at: http://www.shincorp.com
Category:

less

Write a Comment
User Comments (0)
Transcript and Presenter's Notes

Title: The Annual General Meeting of Shareholders for 2009


1
The Annual General Meeting of Shareholders for
2009
10 April 2009 SHIN CORPORATION PLC.
2
Item No. 1
Matters to be informed
3
Item No. 2
To consider and adopt the Minutes of the Annual
General Meeting of Shareholders for 2008, held on
April 22, 2008
4
Item No. 3
To consider and adopt the Board of Directors
report on the Companys operating results for 2008
5
Major Changes in 2008
  • In 2008, the Company was able to get back to pay
    dividend as usual. The company intends to pay
    regular dividend in cash at the same timing as in
    the past. For 2008 results, the Company announced
    two interim dividends totaling Baht 2.40 per
    share, or Baht 7,683 million in total.
  • The Company continues to focus on
    telecommunications and media which we have
    expertise. Thus, the Company sold its investment
    in Payment Solution which is a non-core business
    in 2008.
  • Support the new businesses related to the
    Companys telecommunication businesses
  • International direct dialing service which
    operated by AIN GlobalComm Co., Ltd.
  • The launch of satellite dish set DTV by DTV
    service co., Ltd. (accumulated sales of 346,000
    sets at the end of 2008)
  • The Company, together with AIS, has been
    preparing for the application of the 3rd
    generation mobile telephone service license (3G)
    which is expected to commence in 2009 including
    the preparation of funding plan for such
    investment.

6
Key Events in 2008
  • Social contribution is a crucial commitment. The
    Company has continually made as evidenced by a
    wide array of social activities.
  • Camp Sanook Kid with Shin Corp has organized
    activities that encourage learning, imagination
    and creative thinking among young people
    throughout the past eight years. In the ninth
    year, the new program Sufficient Economy to
    inspire Participatory Learning will also apply
    His Majesty the Kings Sufficiency Economy. The
    project was also implemented at 10 schools in 10
    different provinces across the country. In
    addition, there were over 500 students from 20
    universities countrywide participating in the
    program.
  • The Thai Literature Conservation Contest to
    promote the appreciation and preservation of the
    Thai identity. This year the Company receives the
    royal grace from Her Royal Highness Princess Maha
    Chakri Sirindhorn bestowing upon the Royal Trophy
    for the winner.
  • The Forestation and Water Source Conservation
    which planned to be continued from 2008-2012, has
    invited people to plant trees at three Royal
    Development Centers in 2009.
  • Kung Krabaen Bay Royal Development Study Center,
    Chantaburi
  • Khaohinsorn Royal Development Study Center,
    Chachoengsao
  • Phu Phan Royal Development Study Center,
    Sakonnakhon

7
2008 Income Statement (Cost method)
Net profit increased YoY as there was no
impairment loss from Capital OK after the
divestment in Dec 2007
8
2008 Balance Sheet (Cost method)
Cash and retained earnings decreased from
dividend payment for 2007 results of Bt0.30 per
share
9
2008 Income Statement (Consolidated)
Net profit increased YoY as there was no
impairment loss from Capital OK and ITV
  • Revenue decreased
  • ITV ceased operation in Mar 2007
  • There was revenue from Capital OK before
    disposal in Dec 2007
  • Gain on sale of Shenington (a holding company
    that hold stake in Lao Telecom and Mfone in
    Cambodia) of Bt5,126m
  • Gain on sale of Asia Aviation of Bt407m
  • Loss on sale of Capital OK of Bt1,378m

In 2007, ITV operating agreement was revoked
resulting to impairment of concession assets
10
2008 Net Profit By Segment
  • In 2008, AIS recorded Bt3,553m DPC goodwill
    impairment
  • AIS contribution from normal operation increased
    by 7
  • In 2008, THCOM recorded FX loss of Bt369m while
    there was FX gain of Bt1,050m in 2007
  • Excluding impact from FX and gain from sale of
    investment, Loss contribution from THCOM
    decreased by 70

ITV still recorded accrued interest from unpaid
concession fee in an amount of Bt433m per year
11
Balance Sheet (Consolidated)
Decreased from SHINs dividend payment and
THCOMs loan repayment
Decreased from THCOMs loan repayment
12

Operating Result of Subsidiaries and Associates
13
AIS and Subsidiaries
  • Subscribers at the end of 2008 of 27.3m increased
    by 3.2m or 13 from 2007, accounted around 44.2
    subscriber market share, with 52 service revenue
    market share.
  • Operating profit increased 11 mainly due to the
    decrease of selling and administrative expense
    from 1) ceased recognition of goodwill
    amortization of DPC, 2) fall in the provision of
    bad debt, and 3) drop in marketing expense.
  • 2008 net profit was Bt16,409m, slightly increased
    by Bt119m from 2007, due mainly to the goodwill
    impairment of Bt3,553m. Normalized net profit
    rose 7 to Bt18,760m from solid revenue growth,
    healthy subscriber base which turned into lower
    provision for bad debt, and efficient cost
    control that helped reduce cash operating
    expenses.

14
THCOM and Subsidiaries
  • Revenue increased by 9 YoY due to growth in
    IPSTAR revenue and higher transponder leased for
    conventional satellite in addition to rise in DTV
    satellite dish sale. However, the revenue from
    telephone businesses decreased following the
    sales of 49 in Shenington in Jul 2007. But the
    impact was not substantial as it was offset by
    the growth of telephone subscribers.
  • Net loss was Bt713m, decreased from a net profit
    of Bt3,040m in 2007. Excluding the gain on sales
    of investment in 2008 and the gain (loss) on
    exchange, there was an improvement in normalized
    net result.

15
Item No. 4
To consider and approve the balance sheets and
income statements for the year ended December
31, 2008
16
Selected Information from the Companys Balance
Sheets and Statements of Income
Description Consolidated Financial Statements Consolidated Financial Statements The Companys Financial Statements The Companys Financial Statements
Description 2551 2550 2551 2550
Total assets 63,255 67,267 14,330 15,203
Total liabilities 16,694 17,545 66 59
Total revenue 15,876 22,829 8,068 8,399
Net profit 5,649 960 7,711 3,087
Earnings per share (baht/share) 1.76 0.30 2.41 0.97
17
Item No. 5
To consider and approve the appropriation of the
net profit for dividend payments
18
Historical dividend payment
  • Since 1 January 2007, the Company has mandatory
    changed the accounting for investments in
    subsidiaries and associated presented in the
    separate financial statement from the equity
    method to the cost method.
  • The Company has also applied the retroactive
    adjustment. As a result, the Companys retained
    earnings at 31 December 2006 decreased
    significantly from Baht 24,363 million to Baht
    1,407 million
  • There was no interim dividend payment for the
    fist-half of 2007 due to retained loss status in
    the Companys financial statement
  • The Company intends to pay dividend on regular
    basis as practice in the past. Therefore, in
    2008, the Company distributed the interim
    dividend following the recognize dividend from
    subsidiaries and associated companies as dividend
    in the Companys financial statement.

19
Dividend yield
Remark dividend yield is based on year-end
closing price.
20
Dividend for the year 2008
  • The Company proposes the annual dividend payment
    for the year 2008 of Baht 2.40 per share.
  • Since the Company had already paid two interim
    dividends Baht 2.40 per share during the year
    2008, there is no additional annual dividend
    payment to be made for 2008 performance period.

21
The Companys income statement for 1 Jan 9 Apr
2009 (unaudited unreviewed)
22
The Companys balance sheets as of 9 Apr 09
(unaudited unreviewed)
Dividend income to be received from ADVANC on 4
May 2009
23
Interim dividend for 1 Jan 9 Apr 09
24
Summary
  • There is no additional 2008 annual dividend
    payment to be made (already paid Bt2.40 per
    share)
  • Propose the interim dividend payment for the
    performance of 1 Jan 9 Apr 2009 at Bt1.25 per
    share
  • The closing date of the share registration book
    to determine the shareholders who are eligible to
    receive the interim dividend for the performance
    of 1 Jan 9 Apr 2009 is 23 Apr 2009. The
    interim dividend payment will be made on 6 May
    2009

25
Item No. 6
To consider and approve the appointment of the
Companys external auditors and fix their
remuneration for 2009
26
To consider and approve the appointment of the
Companys external auditors and to fix their
remuneration for 2009
6.1 Auditor KPMG
6.2 Audit fee and other fees
Million Baht
Audit fee and other fees 2009 2008
Audit fee 2.19 2.19
Other fees - -
27
Item No. 7
To consider and approve the appointment of
directors to replace those who will retire by
rotation in 2009
28
Preliminary information on the retiring directors
being proposed for re-election
DR. VIRACH APHIMETEERTAMRONG DR. VIRACH APHIMETEERTAMRONG
Age 65
Title Independent Director and Chairman of the Board of Directors
Shareholding None
Relationship with Management None
Highest Education Ph.D. Finance, University of Illinois, USA
Governance Training of IOD DAP Directors Accreditation Program Class 2/2546
Term of Directorship 7 years and 5 months
29
Preliminary information on the retiring directors
being proposed for re-election
MR. SOMPRASONG BOONYACHAI MR. SOMPRASONG BOONYACHAI
Age 53
Title Director, Chairman of the Group Executive Committee, Member of the Nomination and Governance Committee, Member of the Leadership Development and Compensation Committee, Member of the Strategic and Organizational Review Committee and Authorized Director
Shareholding 0.0000003
Relationship with Management None
Highest Education Master Degree in Engineering, Asian Institute of Technology(AIT)
Governance Training of IOD DCP Directors Certification Program Class 65/2548 DAP Directors Accreditation Program Class 30/2547
Term of Directorship 1 year 11 months
30
Preliminary information on the retiring directors
being proposed for re-election
MR. ARAK CHONLATANON MR. ARAK CHONLATANON
Age 58
Title Director, Member of the Executive Committee Member of the Strategic and Organizational Review Committee, Chairman of the Executive Committee Media New Business and Authorized Director
Shareholding None
Relationship with Management None
Highest Education Bachelor Degree in Electronic Engineering, Chulalongkorn University
Governance Training of IOD DCP Director Certification Program Class 106/2551 DAP Directors Accreditation Program Class 48/2548
Term of Directorship 1 year and 11 months
31
Item No. 8
To consider and approve the remuneration of the
Companys Board of Directors for 2009
32
The remuneration of the Companys Board of
Directors
Position 2009 Remuneration (Baht) 2009 Remuneration (Baht) 2009 Remuneration (Baht)
Position Monthly Retainer Meeting Fee Bonus
The Board of Directors
Chairman 300,000 - ?
Member 75,000 25,000 ?
Audit Committee
Chairman 25,000 25,000 ?
Member - 25,000 ?
Other committees
Chairman 10,000 25,000 ?
Member - 25,000 ?
To propose that the remuneration budget for the
Board and its committees in 2009 should be set
not more than 18 million baht, a decrease of 2
million baht from last year, and the remuneration
policy remain unchanged.
33
Item No. 9
Other Business
34
THANK YOU
About PowerShow.com