The Minutes of the 2013 Annual General ... - Investor Relations

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PresidentThe ChairmanShareholder(Mr. VirojSongwattana)PresidentShareholder(Mr. ChatchaiKhunngam)been taken into consideration? The Minutes of the 2012 Annual GeneralMeeting of Shareholders, attachment of invitation letter, page 17 showsmy suggestion that the Company should report significant performanceand financial information in a place that is easily accessible in additionto the annual report.: Informed that 1) It has already been reported that disregarding 2012 oilinventory, net profit has increased. 2) The Company’s performance andfinancial information has been reported in page 4 of the annual report,aligned with SET practices.: Additionally informed that the Company’s EBITDA obviously showed itsgrowth but lower profits from 2012 oil inventory resulted in lower netprofits.: Questioned that 1) How many megawatts of power purchase includingsolar and wind power does the Company have agreement with theElectricity Generating Authority of Thailand and the Provincial ElectricityAuthority? 2) How much does it cost to operate power for 1 megawatt,both by solar and wind power?: Clarified that 1) The solar power plant business, the Company hasalready signed a power purchase agreement with the ElectricityGenerating Authority of Thailand and the Provincial Electricity Authorityfor 118 megawatts. Phase I and II, totaling 70 megawatts havesuccessfully been completed and is operating commercially. The 48megawatts left is currently in the process of procurement. However, theCompany has yet to sign any wind power purchase agreement with thepublic sector. 2) Phase I of the solar power plant costs about Baht 100million per megawatt, and costs have decreased to Baht 70-80 millionper megawatt after the decline of the price of solar cells, A wind powerplant costs around Baht 90-100 million per megawatt, slightly higherthan its solar equivalent.: Questioned that 1) Has the Company considered using accidents offoreign refineries as case studies? 2) How is the Bangchak refineryoperating performance after it has been upgraded from a simple to acomplex refinery, and are there any furthermore development plans? 3)Which brand is ranked first in terms market share of service station?What is the proportion of the network share? And are there any plans toincrease the number? 4) What is the progress of Palm Plantation- 6 -
PresidentShareholder(Mr. KriangsakRojkurisatian)PresidentShareholder(Mr. Kitiya PalkawongNa Ayutthaya)Project, established to encourage farmers to join and to accommodatebiodiesel production?: Informed that 1) The Company has considered the case studies ofaccidents in foreign refineries in order to prepare preventive measures.2) The Company has plans to develop and improve equipment like thePower Generator and Isomerization Unit which is currently beingstudied. 3) PTT service station is ranked first in terms of market share.Bangchak service stations consist of approximately 500 standard servicestations and 580 community service stations with plans to add anadditional 50 service stations. 4) it is found that the land ownership ofthe area of the Palm Plantation has shifted from farmers to capitalists,contrary to the original intent of the project, whereby the Company hasdiscontinued its continued support.: Questioned that 1) Is PTT Plc., a major shareholder, also a competitor?Are there any issues or effects from that relationship, particularly in theservice station business? 2) How does the Company run its non-oilbusinesses in Bangchak service stations like Inthanin coffee and “MiniBig C” convenience store? For example, revenues and net profits wouldbe different between the rental and franchise holding.: Clarified that 1) The terms and conditions of transactions between theCompany and PTT Plc. are considered normal business practices.There is no effect from its major shareholder status because theCompany and PTT Plc. individually run their own business; it is all aboutthe customer’s decision. 2) The Company owns the right of Inthanincoffee shop and allows two kinds of operator to run the business. Thefirst one is Bangchak Green Net Co.Ltd., the Company’s subsidiary,while the others are independent dealers themselves. “Mini Big C”convenience stores have been invested and operated by Big CSupercenter Plc., while the Company would only provide the space andshare of revenue.: Commented that the Company’s clarification of the incident at CrudeDistillation Unit 3 was late and not enough and raised the followingconcerns 1) The Company should educate the public and the Mae MohPower Plant concerning Hydrogen Sulfide also. 2) What is theCompany’s policy on dealing with enterprises that are involved incorruption cases. 3) The Company should inform and assure that its oilreserves meet legal requirements and will not be affected by theelectricity crisis.- 7 -
Page 1: -TRANSLATION-The Minutes of the 201
Page 8 and 9: PresidentShareholder(Mrs. SunantaKa
Page 10 and 11: policy and the cash flows; it was f
Page 12 and 13: Chai-Anan Samudavanija, Chairman of
Page 14 and 15: 5. Mr. Vikrom KoompirochanaResoluti
Page 16 and 17: Resolution:The meeting, by not less
Page 18 and 19: Current AOAArticle 18 “The Board
Page 20 and 21: The Chairman : The credit rating of
Page 22: PresidentShareholder(Mr. PrasertTit

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