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Questions & Answers
  Annual General Meeting of Shareholders No.1/2022
Questions Attached to the Minutes of the Meeting
Question1 Questions about share price, free float and liquidity:
Question from Mr. Ponpat Aramruangsakul (Shareholder)

1.What’s the Board of Director’s policy in overseeing shareholders affected by

1.1.The share value which is currently lower than the book value?

Answer : The share price currently reflects the sluggish market condition. If the circumstances are improving, coupled with our great potential, the share price is likely to increase.


1.2  The so low volume of free-floating shares held by minor shareholders to the point that no big lot is available for trading. (For share information held by minor shareholders: Source: regulation)

Answer : The company agrees with the shareholder and will bring the matter to the Executive Board meeting. We do appreciate the shareholder for presenting this issue.


Question from Ms. Laddawan Aramruangsakul (shareholder)

2.How will the company resolve the problem of share illiquidity?

Answer : It’s an interesting question. We will bring the matter for further discussion at the Board of Directors’ Meeting. The company appreciates your concern.

Question2 Questions about future growth and competitions within the industry
Question from Mr. Ponpat Aramruangsakul (Shareholder)

1.What is your growth target during the next 5-10 years?

Question from Mr. Paisan Wuthibanchon (Shareholder)

2.From last year’s AGM, The Company stated that the Covid-19 would negatively affect the industry for at least 2-3 years. What’s your current view in regard to the industrial outlook and the company’s own outlook?

Question from Mr. Chayawat Karawawattana (Shareholder)

3.What is your operation plan for this year as well as for the next 2-3 years?

4.What’s the management’s viewpoint about the future of the Thai automobile industry after the EVs gradually captures the market shares? Will the production of automobile peak at 2 million units?


Answer :  Since the Covid-19 pandemic remains ravaging, it’s still difficult to come up with a clear picture. However, the company is of the opinion that during the next 3-5 years after the Covid-19 subsides, both the Thai economy and the automobile industry should recover by 5-10%.


Question from Ms. Laddawan Aramruangsakul

  1. Will we encounter additional competitors in the market?

Answer : The market is freely open. Competition may come from local and international players. That’s why we focus on enhancing our technology to remain competitive. We have comparative advantage thanks to  Thailand’s position as an automaking hub for a long time. Besides, we are ready in terms of experiences and resources ranging from technology to raw materials and skilled labor.

Question3 Question about the EVs
Question from Mr. Chairat Paladikanon.

1.What do you think about the EVs? Will it have positive or negative effect to Thai Stanley?

Answer : The EVs will definitely be here in Thailand. While the EVs are quite high-tech, yet it still needs lighting equipment. That’s why we think it’s a boon to us since this will be an opportunity to add values to our products by implementing the technology we already have in hands.

Question4 Questions about overseas investment
Questions from Mr. Pakpoom Boonpetch

1.The company enjoy good investment returns from investments in Vietnam and Lao PDR. I wish to know whether you have a similar investment plan overseas? Can you elaborate on your plan?

2.Do the company have a plan to increase your investment ratio in countries you have invested in such as India, Indonesia and Pakistan?

Answer : We are currently studying business opportunities in certain countries in Asean and others and we will inform shareholders as soon as our position is clear.

Question5 Questions about Lamp 8 Plant and information in the financial statements
Question from Mr. Chairat Paladikanon

1.How much have you invested in the newly-constructed Lamp 8 Factory? Of this, what’s the value of PPE (Property, Plant and Equipment)? Is it Baht 4.055 billion?

Answer : We invested around Baht 2.252 billion in Lamp 8 Plant. Of this, about Baht 1.5 billion was costs of construction and internal systems, Baht 245 million was for plants and equipment, Baht 332 million was for molding and another Baht 48 million was for others.


2.Questions concerning intangible assets:

  • Is it true that intangible assets in relation to various programs accounted for Baht 252 million?
  • Intangible assets consist of (1) computer programs; (2) costs of product designs and (3) others. What are “others”? Are “others” the production control system to achieve economy of scale?

Answer : Intangible assets consist of computer programs and costs of product designs. Based on the question, the production control system is not part of the intangible assets.


3.Lamp 8 Plant started its production in late 2020. At what percentage in terms of production is the plant running at this moment? Have it achieved a break-even? What is its depreciation cost and amortization cost per year? How long will it reach its 100% production capacity level?

Answer : Lamp 8 Factory’s production capacity is now running at 47%. It expects to reach its full 100% production capacity within 2023.

Depreciation and amortization costs (as of March 31, 2021) amounted to Baht 73 million. However, there is an additional investment in plants and equipment at the moment. Depreciation and amortization costs therefore are subject to change.


4.Is it correct that the 3% royalty fee paid to Stanley Electric Japan Co Ltd (STJ) is calculated from net sales i.e. total sales sold to STJ less total purchase of raw materials + purchase of intangible assets?

Answer : The royalty to be paid to STJ is based on the trade agreement. This is 3% from the net sales (the company’s sales less purchase amount from STJ).


5.Is the software license, which is around Baht 10 million a year, an annual expenditure? Please elaborate.

Answer : Clause 20 of Notes to the Financial Statements as of March 31, 2021 records Baht 17.63 million as the amortization cost of software license. This is computed on a yearly basis using the straight line calculation method throughout the life cycle of this asset. (Clause 6.8 of Notes to Financial Statements: Software license will be amortized throughout its estimated usable life cycle within no more than 5-10 years).

Question6 Questions about associated companies, joint venture companies
Question from Mr. Chairat Paladikanon

1.Is it correct that Vietnam Stanley Electric Co Ltd is a factory set to produce and sell products in Vietnam? Does this factory export its production? If yes, in what percentage?

Answer : Vietnam Stanley Electric Co Ltd is a manufacturer of auto lamps for sales mainly to automakers in Vietnam. Exports are conducted through customers. It’s also a single source or a manufacturer and distributor to companies within the Stanley Group.


2.To which countries does Laos Stanley Co Ltd produce and sell its products?

Answer : Laos Stanley Co Ltd is a business which assembles motorcycle lamps mainly for sales in Lao PDR and Cambodia because it has a branch producing the lamps there. Parts from Thai Stanley are brought to assemble for sales there.