In the year 2011, this company provided a budget for investment estimate overall 3,000 million. It’s used for the ECO Car project and others. Due to the customers also have a new model. For the source of funds, we will use the funds from company financial, do not have to a loan but we have a deposits. And as a results of the kind of shareholders because each year The company paid a dividend not much and accumulated funds.     Because the company forecasted that a lot of investment in this year which is a historically, considered a conservative operation. 

For payback of fund, as of the company is very high investment both of the factory, machine and tool, and the project could not provide at the same time but the company had to invest for factory. There is spent time for payback of fund reasonable. And We will try to the best.   

Minimum wage; The company think that is a higher and affect to industries. It’s may be fall or move to production. Expected possibilities but is continuously updated. It’s also a future. I would like to wait to organize the Government and coordinating with the private sector and labour sector.     

In the last year, company’s sales grow 23% but automobiles market increased 64%, and motorcycles market increased 23%. Why the company’s sales did was not increased equal with sales of automobiles and motorcycles?     

The company’s profit increased 49% by consideration from cost of sales found that only increased 15%, while sales increased 23% . What was the raw material has reduced the price or Thai Stanley do the SNAP activity to reduce cost?

In the previous year, the company purchased of land about 100 million baht for building factory for support the ECO Car project and this year the company has purchased land about 200 million baht. What’s the purpose of purchasing?

From annual report on page 76, competitive conditions informed that relatively low competition. Therefore, the competitive strategy of the company is attempted to provide all kinds of products are high quality with reasonable price by pricing will be charged the standard cost of production plus profit. I would like to know that the standard profit is Gross Profit, How many of percentage? And how many a percentage of Net Profit?

From annual report on page 109, selling expenses was 415 million baht, increased 30%. Royalty expenses increased 29%, Export & Transportation increased 37% while the company sales grow 23%. Why is the difference?  

The company’s sales increased difference from vehicles and motorcycles marketing because the company’s products are not just for cars and motorcycles but also including bulbs and molds. In the past year, lamp sales decreased 4.7% because the customers from Indonesia had a problem and reduce a purchasing. Sales of Die&Mold reduced 51%. As a result of the issuance of a new model of customers for each time difference. Some period is transformed into more assets, it will be results of less sales. But if you consider separated lamps which increased 29% as a lamp for automobile and motorcycle. And its not a manufacturer lamp solely (Monopoly), some period the company have a good sales and bad sales. So, we unable to control of purchasing, but we able to control is the profits.   

For the cost of sales increased less than sales, because the company uses a various cost control system thoroughly. SNAP (Stanley New Approach for higher Productivity) Production Efficiency Improvement, Kaizen both of using raw material and production, cost reduction, including the stock system.    

For Land, In the previous year the company purchased amount 200 million baht of 44 Rai, at the behind the company. The objective is expanding. By the consideration from order of customers and trend of industry in the future. As the seller of land to sell in affordable prices and we will get a new factory that Lamp 7.

Pricing policy based on standard prices. Thai Stanley unable to explain about standard price at this meeting. Because it’s affected to customers. This is the price have to review and adjust the appropriate standard every year. 

Selling expenses that is increased from Royalty expenses as the contract to Stanley Electric Co.,Ltd. Japan. Thai Stanley paid a royalty of 3% of sales which deducted by the raw material purchasing from Stanley Electric Co.,Ltd. Because of the rising Yen, a value of raw material purchasing became more expensive. Thai Stanley will have a development for using raw material of domestic increasing. As results the value of raw material purchasing from the above company that is deducted to calculate of royalty expenses had decreased. There is made to increase payment of royalty expenses.

Export & Transportation expenses increased from sales and export which are growing. 

Ask for new model cars which Thai Stanley produced to customers as Honda, Nissan, Toyota and Suzuki. What is a model and when do you produce?

The current Thai Stanley produced as 3rd High Mount Stop Lamp of Honda Brio. For tail lamp is during to quote a price and waiting for answer from customer. Because this model imported a tail lamp from Indonesia and Thai Stanley try to present to Honda about quality and price, by the objective to compare with import. If Honda agree to presentation, you may be see a Honda Brio that have a tail lamp of Thai Stanley in End of the Year. Other customers still during quote a price and waiting for consideration of customers. So that , Thai Stanley still cannot explain in details because it is a trade secret.

Non profit arising from securities sales margin is a securities of company which purchased or Which is a security? 

In the year of 2010 loosed from selling intangible assets are 8 million baht but 2011 have not to have. What is the list? 

The company is holding a securities of Inoue Rubber (Thailand) PCL. which listed on The Stock Exchange of Thailand. The company will consider for current price in every closing accounting period and adjust the value up and down on stock prices. The company is not a policy to selling and we will holding for a long term.   

The Note to the Financial Statements in notes 13 page 37; losses on write off intangible assets are product design cost and cancelled by customers. As of the regulation of the company can vary from a customer, but the company seem that the long-term relationship, so the company get an expenses.  In order that  the company has received an orders from customers in next generations.    

Cash and cash equivalents are high increasing. The objective is support ECO car.  Yes or No?

Cash and cash equivalents increased from 3 points. First, Profit of company. Second, Decrease inventory because the company using a SNAP system (Stanley New Approach for higher Productivity) to improve stock system. Third, investment in short term. The original company has to deposit in the period of 3 months-1year approximately 975 million. And because interest is a lot higher, and adjusted every month.  The company then changed the term of deposit is 1 month, and weekly and reduce the amount of deposit investment short-term with 560 million. The rest of it into cash item.

ECO Car project company receives investment from BOI or not? If yes. How many years to benefits? The company expects revenues in the quarter? And full production capacity and lifecycle cost recovery a few years?

Thai Stanley received a purchased order of lighting equipment of ECO car project; Honda , Mitsubishi, Suzuki. Now we proceed to obtain the investment supporting (BOI) which has 8 years of benefits. The tax exemption to import machinery and the company will need to understand with the customers and The Board of the Investment. Due to the company’s project split into each customer. The company expects to receive approval to promote investment.

Income from projects in ECO Car, depending on the production of each customer. Also cannot be specified explicitly, but anticipate early 2012  onwards.   Cost recovery would be considering each customer a different project, but may consider the requirements of the Board of investment (BOI) to production, 100,000 cars within 5 years.

The company plans investments this year, approximately 3,000 million and next year we expects to have more investment in parts of motorcycle.

From the financial statement on page 33, Translation adjustment decreased 139 million baht. What’s wrong?

Ask for the company explains dividend payments. Because this year have a profit more than last year, but the dividend payment is less than

In the year 2010, Thai Stanley dividend rate 42.81% both sales and profit declines as economy or Demand Shock and in the past, the rate of dividend is among 32 – 36%.  The executives did not want the shareholders to concern about the company's profit and dividend payment, a rate higher than ever before. The Executive has the concept that the dividend rate is always good, but in the year 2011, this according to informed investment and increases investment in future, executives think that the rate of dividend 36.37% as an appropriate rate.

From last year, with foreign shareholders. No eligible dividend because of the wrong type of shareholders.  The company should contact or recommend to shareholders for receive a dividend and not owe in the financial statement.

The company's income tax increases approximately 200 million.  We offer companies to find a way to make income tax reduction for dividend increase.

Thank you for your kind suggestion for shareholders the wrong category. 

The company pays income tax increase due to the benefits of investment (BOI) expires, companies that paid taxes as a function of a good citizen. The Government has introduced tax money to developing countries.  To avoid tax is inappropriate and will not work.

From the earthquake situation in Japan. Manufacturer vehicle cannot delivery to Thailand. Car manufacturer cannot to produce. From these news, now, the situation back to normal?  The company will produce full when and recommends that companies notify about initiatives in the upcoming year.

Company may notify about automotive industry trends the year 2011, despite earthquake events in Japan, but the impact in the short term to car industry. This is expected to be produced 1.8 cars and cars-motorcycles that are not affected by this event at Japan. Forecasting production amount 2.3 million cars are considered to be a good trend and because of automotive lighting equipment business is the main manufacturer in Thailand, only 2 manufacturer which were both companies will benefit from a good trend.

From earthquake at Japan did affect all over the world because the manufacturer parts cannot be exported to various countries. That has happened during Thailand focused on export. Make the most impact. Japan has accelerated solutions to original condition as soon as. In the first stage is expected to return to normal in later this year, but from the assistance from various countries to recover faster. To be visible from parts shipped in April – June 2011 cannot deliver. But the current consignment pieces can deliver approximately 90% and has been projected that production of the car manufacturer will return to the normal 100% in September and will produce 2011 increased in October, 2011.   The company as  manufacturer parts will continue to support capacity will be increased by building new factories and retain quality issues and deliver on time to build trust from customers by continually working hard and getting cooperation from shareholders in guiding the operations of the company.