pttgc: annual report 2011 th

() 555/1 14-18 10900

: 0-2265-8400 : 0-2265-8500www.pttgcgroup.com

Center of Petrochemical Excellence Responsible-Excellent - Innovative

2554 ()

... BE ERInnovating for living

BE ER

Be Open

Build ONE Team

Be a Coach

()

I nnova t ing fo r l i v i ng

BE ERa n d e v e n

Build Trust

Lead Change

64.0 cm

21.0 cm

21.0 cm

20.8 cm21.0 cm

20.8 cm 21.0 cm

*** UV Spot

29.5 cm

A W _ A n n u a l R e p o r t _ G C 2 0 1 1 [ T H ]s i z e 2 1 x 2 9 . 5 c m .

1 2 3

() 555/1 14-18 10900


2554

()


BE ERInnovating for

living

2554 ()


BE ER

Be Open

Build ONE Team

Be a Coach

()


BE ERa n d e v e n

Build Trust

Lead Change

64.0 cm

21.0 cm

21.0 cm

20.8 cm21.0 cm

20.8 cm 21.0 cm

*** UV Spot

29.5 cm


1 2 3

() 555/1 14-18 10900


2554

()


2554 ()


BE ER

Be Open

Build ONE Team

Be a Coach

()


BE ERa n d e v e n

Build Trust

Lead Change

64.0 cm

21.0 cm 20.8 cm21.0 cm

*** UV Spot

29.5 cm


() 555/1 14-18 10900


2554

()


BE ERInnovating for

living

2554 ()


BE ER

Be Open

Build ONE Team

Be a Coach

()


BE ERa n d e v e n

Build Trust

Lead Change

6

7

11

2554 13

16

2555-2559 20

22

24

26

30

34

38

41

44

47

50

54

62

66

82

92

96

98

100

110

111

114

122

130

160

164

190

192

194

196

197

200

201

211

333

334

2554

2From Ups t ream

to Downs t ream

228,000 8.2 7

......

3fo r You r Happ iness

Reward ing Inves tmen t

......

4Crea te Lea rn ing Soc ie t y

and Ready to be Sha red

......

5I nnova te the G reen Va lue

fo r Sus ta inab le Happ iness

Green

Chemicals ( ) (Bio-based Chemical s )

......

7

372,967

164,513

208,454

504,599

EBITDA 54,422

30,033

() 6.66

() 1.75

EBITDA () 10.79

() 5.95

() 8.05

() 14.41

() 0.79

: 2554 *

: EBITDA

() 2554 () . () . () 19 2554 2554 19 2554 31 2554

*

8Global Winning Formula

10

.

8.2 /

765,000 /

Strategic Ways to Success

11

() (PTTGC) .

() (PTTCH) . () (PTTAR) 19 2554 (Chemical Flagship) . 45,129,302,690

4,512,930,269 10 45,061,129,360

12

8.2 228,000 7

24 2554 : . () (PTT) . () (PTTCH) . () (PTTAR) PTTCH PTTAR PTTCH PTTAR ... .. 2535

21 2554 : . () (PTTCH) . () (PTTAR)

18 2554 : . () (PTTCH) . () (PTTAR)

19 2554 : ()

21 2554 : () - PTTGC

2554

13

5 2555 :

. BOI

Fair 2011

30 2555 :

PTTGC CEO , CFO IR (Securities Analyst Association)

SAA Awards for L i s ted Companies 2011

3 30 2555

. 6

PTTGC 3

27 2554 :

PTTGC Plastic Converter 5

12 2555 :

PTTGC PTT Group KM Awards 2011

. Synergy Hall

14

18 2554 :

PTTGC . 5

5 2554 :

PTTGC . .

.

22 2554 :

PTTGC Isocyanates Perstorp Holding AB (High Volume Specialties) Isocyanates Grenoble

30 2554 :

PTTGC

. PTT Group SEAL Synergy Hall

2 2554 :

PTTGC . 20

15

21 2554 :

PTTGC .

14 2554 :

. 20

19 2554 :

PTTGC ()

3 2554 :

. .

3 .

13 2554 :

20 . 8 3 5

16

2554 . () . () () (Chemical Flagship) . 8.2 2.28 7

2554 (AFTA) 2554 500,305 30,033 6.66

18

LDPE HDPE 4 2 Perstorp Holding (High Volume Specialties) Myriant Corporation NatureWorks Green Technology

.

19

( )

20

2555 2.5 2554 2.8 3 2556 4.0 3.5 5

2555 8.2 9 2556 9.5

9.1 5

2555 6.3 7 2556

8 7.6 5

(IMF) IMF 2555 0.7 1 2556 1.7 1 5 10

2.0 2555 3 2557 3.4 3 5

2554 2555 1.6 2 2557 1.6 5

2555-2559

21

2554 2555 4.9 1.0 5.6 2556 5 5

2555 5

1.

2.

3.

4.

2555 5

2555 2558 5

2008 2010 2012 2014 20162009 2011 2013 2015

%11.0

9.

7.

5.

3.

1.

-1.0

-3.0

-5.0

-7.0

Note : ASEAN-5 includes Indonesia, Malaysia, The Philippines, Thailand and Vietnam: NIEs includes Hong Kong, Korea, Singapore and TaiwanSources : IMF, BOT and market survey

ChinaIndia

Asean-5Thailand

NIEsWorld

USUK

EurozoneJapan

World and Selected Economies Growth

22

+(17) +(18) +(19)

+(20) +(21) +(PVC)(22) +(23) +(24)

+(25) +(26)

Services and Others

Refin

ery &

Sha

red F

acilit

ies

Aroma

tics

Olefins

+ (LPG)+ + + + (1)

+ + + + + + (2)

+ (3)

+ + 4

23

: (1)PTTGC145,000 (2)PTTGC 2,259,000 135,000 (3) PTTGC 1,863,000 PTTPE 1,025,000 (4)PTTGC300,000BPE 500,000 (5) PTTPE 300,000 (6)PTTPE400,000(7)TSCL 90,000 (8) TOCGC 300,000 95 ,000 (9 ) EA 50 ,000 (10)TEX50,000

(11) TOL 331,000 (12) EMERY 962,000 (MPR ) (13) Bio Spectrum (14) NatureWorks LLC (15) Phenol 200,000 BisPhenol-A (BPA) 150 ,000 ( 16 ) Pers torp Hold ing France SAS 125,000 (17 ) TTT (18) PTTUT (19) NPC S&E (20) PTTME PTTES (21) EFT (22) VNT 280,000 (23) Bio Creation (24)Myriant Corporation (25) PTTICT (26) Business Service Alliance

*

Polymers

EO-Based Performance

Green Chemicals

High Volume

Specialties (HVS)

+ BPA(15)

+ (TDI)(16)

+ (11)

+ (12)

+ (13)

+ *(14)

+ (3)

+ + 4

+ (HDPE)(4)

+ (LDPE)(5)

+ (LLDPE)(6)

+ (PS)(7)

+ / (EO/EG)(8)

+ (9)

+ (10)

24

, ,

,,

4

25

,

AROMATICS OLEFINS POLYMERS EO-BASED PERFORMANCE GREEN CHEMICALSHIGH VOLUME

SPECIALTIES (HVS)

REFINERY & SHAREDFACILITIES

26

Complex 145,000 Complex Hydrocracker Visbraker

2554 57.6 58.8 1 47

Hydrocracker

Low NOx Emission 3 20

2 (Upgrading Complex Phase 2) Deep Hydro Desulfurization (DHDS) 4 2554

27

55 6,450 72 19 . ()

35

2553 118 2 (Commodities) AA+ 3 100

4 110 2555

28

2554 2553

(Gasoline : ULG 95) 18.1 (Unplanned Shutdown) Formosa Petrochemical Corp. Mailiao Dung Quat 3.9 13.5 31 10.3 2553

(Jet/Kerosene) 2553 1 1 3 12.1 2553 19.4 2554 60

(Diesel) 1 2 3 2554 18.3 61 11.4 2553

29

(Fuel Oil) 2553 (Bunker) 2554 -5.2 30 -3.9 2553

2554 1 Formosa Petrochemical

Corp. Mailiao 540,000

IRPC

30

2 UOP 2 :

1 2

2 1

2,259,000 135,000

540,000 655,000 1,195,000

307,000 355,000 662,000

200,000 - 200,000

66,000 - 66,000

76,000 - 76,000

- 60,000 60,000

1,189,000 1,070,000 2,259,000

(/)

1

2

31

PET

PVC

6

6,6

--

/

32

2554 2.05 88

1 12 2554

(Parex unit) 2 25,000

Process Offgas 2

(Sour Naphtha) 1 2

1 15

2554

1,541 47 1,091 21

33

1 672 256

2 624 173

3 598 192 (PTA Polyester) 2

572 84

2554 82

50

34

(HDPE) (LDPE) (LLDPE) / (EO/EG

TOCGC) 100 2554

(Nameplate Capacity) 2,888,000 2,376,000 512,000

4,

, , Butene-1 Butadiene 4 Butene-1 Butadiene 100,000 (Basic Engineering) 2 2557

(Treated Water) (Potable Water) (Demineralized Water) 2554 210

620 2,080 Sea Water Reverse Osmosis

(SWRO) 1,000

2554 2553

35

SCM SAP

2554 3.9 341 1 PTTPE (MOC) 2553 312 LDPE 300 KTA PTTPE 1 LLDPE 350 KTA Siam Polyethylene 31,000 3

2554 74 On-purpose Metathesis MOC PDH Unit HMC Polymers PDH Unit 100 KTA 1 3 79 2553 65 130,000 6

36

2554 1,188 1,387 10 23 7

2554 800 KTA Shell Chemicals 400 KTA Ethylene Malaysia 1.73 8

12

2554 266 2553 97 9

2554 On Purpose Formosa RFCC (Residual Fluid Catalytic Cracker) Olefins Conversion Unit (OCU) 325,000 250,000

37

500,000 Shell Chemicals 800,000 450,000 1.05 2554 466 2553 47 10

2554 Oversupply MEG HDPE 80 (Cash Flow Management)

1-6 (: )

7-10 (: ICIS)

38

HDPE 300,000 () (BPE) 500.000

HDPE 800,000 InnoPlus BPE HDPE 250,000 50,000

HDPE

HDPE (PTTPM) . 25 : 50 : 25 .

(PTTPE) 100 (LLDPE) 400,000 2553 (LDPE) 300,000 2554

(TSCL) PTTPE 100

(PS) 90,000

39

HDPE (ISO 9001) (ISO 14001) (. 18000) (ISO 17025 Guide 25)

(Continual Improvement)

Reverse Osmosis (RO) (Clarified Water) (Eco-Efficiency)

(Bag Filter) / (Silencer)

(Display Board)

2554

(VOCs)

40

2554 1 2 3 4 64 30

2554 3.8

() (IRPC) HDPE, LDPE, LLDPE, PP, EVA, ABS PS IRPC . IRPC

(TPE) TPE HDPE IRPC TPE (ROC) LDPE LLDPE

() () PS SM

41

(EO-Based Performance Products)

/ (EO/EG)

(TOCGC) 100 (Ethylene Oxide : EO) (Ethylene Glycol : EG) (Mono Ethylene Glycol : MEG) (PET) MEG 300,000

MEG 95,000 2555

(TEX) 50 EO Derivatives EO 50,000 2549

(EA) Ethanolamines 50,000 2554

42

TOCGC Peak TOCGC

EA ISO 9000, ISO 14001 TIS/OHSAS 18001 . EA

TEX

MEG

MEG MEG MEG

MEG

2554

Personal Care 2555

Ethoxylate Personal Care Home Care 2554 Ethoxylate 2554

43

MEG

SABIC, MEGlobal Shell (Middle East)

Economy of Scale MEG

Supplier

EA

OUCC, Optimal, Ineos Dow

TEX Dow, Optimal, Shell, Huntsman, Clariant Sasol

44

(Oleochemicals)

TOL 100 200,000 31,000

TFA TOL 100 100,000

(Bio Spectrum) Inventa Technology (S) Pte Ltd 75:25 (Carotenoid)

. (CH Inter) 3

Emery Oleochemicals (M) Sdn. Bhd. Emery () 50 962,000 Emery Multi Purposed Reactor (MPR) (TFA) MPR 14,000 2554

Myriant Corperation Myriant 46

NatureWorks LLC Cargill Inc 50

Myriant Corporation NatureWorks LLC

45

TOL ISO 9000 ISO 14000 Environmental Management Systems (EMS) .18000 (TIS 18000) Occupational Health and Safety Assessment System (OHSAS 18000) GMP (Good Manufacturing Practice) HACCP (Hazard Analysis and Critical Control Point)

TOL TFA

Emery Plastic Additive Emery PTTGC PTTGC Synergy

2554 5 2 4 2554 2555 5

46

Emery Oleochemicals

2553 2554 2554 2.6 3.8 70

(

) 2555

Value Added Oleochemicals KLK, IOI, OLEON, WILMAR

47

6 Specialty Products High Volume Specialties (HVS)

. (PPCL)

200,000 2552 Bis-Phenol-A (BPA) 150,000 2554 Perstorp Holdings France SAS PTTGC International (Netherlands) B.V. ( . (CH Inter) 100) 51 () Toluene Di-Isocyanates (TDI) 125,000 Polyurethane (PU) Specialty Products

2554 PPCL 200,000 124,000 BPA 150,000

Perstorp Holding France SAS TDI, HDI and Derivatives 3

48

PPCL

2554 1-3 3

(EU)

TDI 1.8 4.6 2553

822,000 6.4

(584,000 3.8) (441,000

2.0) TDI PU Foam

(/)

()

(%)

Perstorp Holding TDI 125 100 80

France SAS

Perstorp Holding HDI and Derivatives 24 24 100

France SAS

Perstorp Holding Derivatives 11 11 100

France SAS

(US plant)

49

2554 55 2552 WTI 79.52 1,072

Margin TDI 2552 380

TDI 2554 2,364 ( : CMAI)

PPCL Mitsui Chemicals, Sinopec, Kumho P&B, Formosa Chemicals & Fibre Corporation, LG Chem Co

Chang Chun Petrochemical Co Ltd.

2 PPCL (Captive Use)

PPCL

Mitsui Chemicals,

Kumho P&B, Nan Ya Plastics Corp, Chang Chun Petrochemical Co Ltd., Mitsubishi Chemical Corp LG

Chem Co.

TDI HDI

BASF TDI PU

Bayer TDI HDI PU

50

1. (TTT)

2. (PTTUT)

3. (PTTME) . (PTTES) .

4. (NPC S&E)

5. (EFT)

6. (PTTICT) .

7. (BSA) . .

51

8. (BIO Creation) (Trading) (Methylamines Derivatives) (Health & Nutrition) (Food/Supplement) (Personal Care)

9. . (CH Inter) 46.4 Myriant Corporation (Myriant) NatureWorks LLC 50 (Industrial Biotechnology)

10. 7 () (VNT) 2554 PVC 280,000

Shaping the Green Growth Society

54

3

. . . . , , , 3

1

. 50,000

2

. 5 3 15,000 Rescue Team

3

. 4 4 EM Ball .

55

.

21

OPEN HOUSE

1

PTT Global Chemical Group

84 200

Protection strip

Protection Strip PTTME

. . 1,000

56

3,400

: ICC Day 2011

(International Coastal Cleanup Day) 21 2,500 - 6.5 8,177

ESH Enhancement

CARES Grand Day

CARES Grand Day

57

()

() (CSR) (QSHE)

1.

2.

3. B-CAREs

4.

5.

6.

QSHE

58

(Environmental Impact Assessment)

ISO 14001

Eco-Efficiency (Water Consumption) (Energy Consumption)

(Global Warming Contribution) (Ozone

Depleting Substances) (Wastewater Generation)

2558 3R (Reduce)

(Re-use) (Recycle) Innovation Technology (Eco-Industry) (GPS)

(Carbon Footprint) (HDPE) HDPE I-1

59

11 (.)

(Pollution Prevention) (VOCs) VOCs VOCs (SO2)

(NOx) 4 2554

24

Scope 1 Scope 2 Scope 3

ISO 14064-1:2006

60

14

(2541-2554)

RIL

Rayong Oil Spill Emergency Response (IESG) (Emergency Mutual Aid Group: EMAG)

62

() PTTGC www.pttgcgroup.com 0107554000267 31 2554 45,129,302,690 4,512,930,269 10 2

1. 45,061,129,360 4,506,112,936 10

2. 68,173,330 6,817,333 10

19 2554 - 21 2554

3,454 : 66 (0) 2265-8400 : 66 (0) 2265-8500

: 66 (0) 2265-8632,8456, 8635

Email : [email protected]

: 66 (0) 2265-8421, 8574, 66 (0) 2140-8712

Email : [email protected]

63

555/1 14 - 18

10900

: 66 (0) 2265-8400 : 66 (0) 2265-8500

www.pttgcgroup.com

1 59

21150

: 66 (0) 3899-4000 : 66 (0) 3899-4111

2 - 14 -

21150

: 66 (0) 3899-4000 : 66 (0) 3899-4111

3 - 9 -

21150

: 66 (0) 3899-4000 : 66 (0) 3899-4111

4 1 4 -

21150

: 66 (0) 3897-1000 : 66 (0) 3899-4111

5 2 98/9 - 3191 21150

: 66 (0) 3897-1000 : 66 (0) 3899-4111

6 8 -

21150

: 66 (0) 3897-1000 : 66 (0) 3899-4111

64

7 19

21150

: 66 (0) 3899-4000 : 66 (0) 3899-4111

8 11 -

21550

: 66 (0) 3897-1000 : 66 (0) 3899-4111

9 24/9

21150

: 66 (0) 3899-4000 : 66 (0) 3899-4111

555/1 15 10900

: 66 (0) 2265-8400 : 66 (0) 2265-8500

- ()

62 10110

: 0-2229-2888 Call center : 0-2229-2888

: 0-2654-5427

http://www.tsd.co.th

() 393 10500

: 66 (0) 2 230-5479, 5575, 5783, 6061

: 66 (0) 2 266-8150, 9779

http://www.tmbbank.com

()

1060 10400

: 0-256-2323-8 : 0-2256-2406

65

9 16 10900

: 0-2544-4049 : 0-2937-7662

http://www.scb.co.th

Citibank, N.A.

Citigroup Centre, Dublin Branch

Citigroup Centre 1 North Wall Quay, Dublin 1

Ireland

Citigroup Global Markets Deutschland AG & Co. KGaA

Reuterweg 16 60323 Frankfurt am Main, Germany

Fax : +49-69-1366-1429

48 195 10120

: 0-2677-2000 : 0-2677-2222

http://www.kpmg.co.th

22-25

990 4 10500

: 0-2636-2000 : 0-2636-2111

http://www.bakernet.com

26

999/9 1 10330

: 0-2646-1888 : 0-2646-1919

http://www.siamlaw.co.th

719 10500

: 0-2639-1955 (26 )

: 0-2639-1956 57 (Trademark) 0-2639-1958 (Patent)

http://www.dsb.co.th

66

2554

() () .

() (PTTCH) . () (PTTAR) 19 2554 2554 19 2554 31 2554

( ) 2554 2553

1.

19 2554 31 2554 104,433 2,113

19 - 31 2554

() %

104,433 100 %

EBITDA 7,068 7 %

2,113 2 %

() 0.47

4/2554 3 2554 HDPE

67

2554 30,033 84 2553 16,320

( : ) 2554 2553 /()

500,305 375,304 33 %

EBITDA 54,422 34,877 56 %

30,033 16,320 84 %

() 6.66 3.65 82 %

1.0 1.88 2553 2.88 2554 53 28

2554 (Dubai) 106 2553 78 58 64 57 (MOPS) 29 922 (SEA) HDPE (SEA) (Cost-Push Effect) (SEA) 1,187 10 HDPE (SEA) 1,373 12 HDPE (SEA) HDPE (SEA) (MOPS) 451 8

2. 19 2554 31 2554

19 2554 31 2554 106 4 3 107 4 17

68

10 19 18 3 638 165 531 49 4 223 191 HDPE 463 459

. () (Balance)

104,433 13 EBITDA margin 7 1,461 PPCL PTTUT

3. 1 2554 31 2554

3.1

2554 2554 106 2553 78 28 36 2554 1 2 2554 118 S&P AAA AA+

69

106 4

2554 1 4 2554 2554 220 396 2553 616 2554 56 93 253 2553 160 2554 37

2554 2554 1,187 2553 1,076 10 2554 1,386 2553 1,132 23

Cracker 1.73 12 2554 266 2553 98 27

70

2554 500,000 1.05 2554 466 2553 47 11

2554 HDPE 2554 1,373 2553 1,224 12 LLDPE 2554 1,339 2553 1,290 3 LDPE 2554 1,602 2553 1,453 13

Margin LLDPE

71

MEG (SEA) 2554 34 1,314 MEG PTA Polyester MEG Formosa 1.9 2554 MEG 0.65 Ethylene 258 91

:

:

2010

1Q-11

2Q-11

3Q-11

4Q-11

2011

713

903977

937

870

922

1,076

1,238

1,291

1,160

1,061

1,187

1,1321,3791,4871,3941,2831,386

1,2241,3721,3891,3991,3291,373

1,2901,4231,3801,3381,2171,339

1,4531,7311,6831,5861,4081,602

984

1,2501,3001,3431,3621,314

363336314

223

191266

419

477

510

458

413

464

511

469

412

463

459

451

577

520

403

401

347

418

740

828

706

649

538

680

284

445

461

589

672

542

2010

1Q-11

2Q-11

3Q-11

4Q-11

2011

78

100111107

106106

651

859

980942

923

926

1,0471,6301,5081,5751,4541,542

905

1,1351,1291,106973

1,086

396771

529

638531

616

253

276

149

165

49

160

101314

17

1014

12

20

20

191819

1118191817

18

-6

-8

-8

-5

-2

-6

Year(S/MT)

NAPHTHACFR SING.

ETHYLENES.E.ASIA

PROPYLENES.E.ASIA

HDPE(FILM)SEA

LLDPE(SEA)

CFR SEA

LDPE CFRSE Asia

MEG SEA EthyleneMOPS

PropyleneMOPS

HDPEMOPS

LLDPEMOPS

LDPEMOPS

MEG0.65

Ethylene

Year(S/MT)

Dubai(S/BBL)

CondensateErawan

PX SpotKorea

BZ SpotSEA

PXCondensate

Spot

BZCondensate

Spot

GasolineDubai

Jet-Dubai DieselDubai

Fuel OilDubai

72

3.2 2554

3.2.1

2554 2553

()

% % %

4,902,145 9% 5,879,382 10% (977,237) (17%)

3,209,171 6% 3,093,349 5% 115,822 4%

6,089,538 11% 8,820,995 15% (2,731,457) (31%)

28,416,616 52% 26,917,087 47% 1,499,529 6%

7,835,500 14% 9,366,480 16% (1,530,979) (16%)

4,635,375 8% 3,694,951 6% 940,424 25%

55,088,344 100% 57,772,243 100% (2,683,898) (5%)

1 2554 47 58.75 ( 161 KBD) 4.59 7 CDU Utilization 90 55.09 2553 5

% /()

2554 2553

(M.BBL) 58.75 63.34 (7%)

(KBD) 161 174 (7%)

CDU Utilization Rate 90% 100% (10%)

: CDU 145 KBD

73

2554 2553 2554 14 10

2553 19

18 2553 12 11

%/()

( ) 2554 2553

Market GRM 6.37 5.14 24%

Hedging Gain/(Loss) (0.80) 0.01 (10,139%)

Stock Gain/(Loss) Net LCM 1.67 0.31 430%

Accounting GRM 7.24 5.46 32%

2554 (Market GRM) 6.37 2553 5.14

0.80 ( LCM) 1.67 7.24

5.46 2553

74

3.2.2

2554 2553

()

% % %

606,471 14% 577,795 14% 28,676 5%

1,159,202 27% 1,138,660 28% 20,542 2%

184,521 4% 177,995 4% 6,526 4%

BTX 69,917 2% 74,563 2% (4,646) -6%

1,306,295 30% 1,197,576 30% 108,719 9%

529,630 12% 503,283 12% 26,348 5%

426,935 10% 375,851 9% 51,084 14%

4,282,971 100% 4,045,721 100% 237,250 6%

BTX Utilization Rate 88% 85%

BTX 2.2 /

2554 2553 2554 2 BTX Utilization Rate 88

2553 85 1 12 20 1 2554 2 15 - 17 2554

12-27 2554 2554 4,282,971 2553 6

Product to Feed Margin 86 81 2553 ( LCM) 15 4

2553

75

3.2.3

2554 2553

31 .. 54 () () ()

()

* 2,888,000 736,641 80% 661,526 71% 75,115 9%

HDPE 800,000 758,391 95% 458,008 99% 300,383 (4%)

LLDPE 400,000 336,842 89% 283,488 64% 53,354 25%

LDPE 300,000 158,301 55% N/A N/A N/A N/A

MEG 395,000 257,830 68% 310,869 79% -53,039 (11%)

*

3.2.3.1

2554 71 2553 80 2554 75,115 11 Ethane Cracker Plant PTTPE 2553 I-4/1 18 (7-24 ) 1 Ethane Cracker PTTPE 42 1,104 1,287 2554 17 Product to Feed Margin 383 2553 274

() %

() %

2553

2554

393414

19%

13%

1,706

2,812

81%

87%

2,099

3,226

()

76

3.2.3.2

Product to Feed Margin 2554 452 2553 257

HDPE 2554 66 HDPE I-1 50,000 HDPE BPE 2 250,000 1 2554 4 95 2554 HDPE I-1, BPE1 BPE2 32, 13 84

LLDPE 2554 19 25 2554 Cracker PTTPE LLDPE 2554 LLDPE 36 Cracker PTTPE

LDPE PTTPE 1 2554 3 LDPE 2554 158,301 3 93 36 4 2554 55

3.2.3.3

Product to Feed Margin 2554 574 2553 366 MEG 2554 17 11 68 43 3 95,000

77

EBITDA

351,576

16,809

7,492

66,654

13,347

6,776

55,617

9,981

8,147

14,526

5,403

4,748

57,114

8,045

6,619

(45,182)

838(3,748)

500,305

54,423

30,033

: 3.3

3.4

2554 2553

% % %

500,305 100 375,304 100 125,001 33

(419,053) (84) (319,344) (85) (99,709) (31)Product to Feed Margin 81,252 16 55,960 15 25,292 45

(1) (7,784) (2) (5,411) (3) (2,373) (44)

(2) (12,940) (3) (10,778) (3) (2,162) (20)

/() Hedging Commodity (3) (1,275) 0 9 0 (1,284) N/A

(4) 4,294 1 2,240 0 2,054 92

(5) (9,125) (2) (7,143) (3) (1,982) (28)EBITDA 54,422 11 34,877 10 19,545 56

(6) (13,608) (3) (11,903) (3) (1,705) (14)EBIT 40,814 8 22,974 6 17,840 78

(5,575) (1) (5,496) (1) (79) (1)

/() (7) (724) (0) 3,047 1 (3,771) (123)

/() (8) 161 0 426 0 (265) (62)

(9) (3,102) (1) (2,980) (0) (122) (4) 31,574 6 17,971 5 13,603 76

30,033 6 16,320 5 13,713 84

1,541 0 1,651 0 (110) (7) 31,574 6 17,971 5 13,603 76 () 6.66 3.65 3.01 82

78

3.5 2554 2553

1. 44 2,373 7,784 Cracker PTTPE, HDPE Expansion, BPE2 LDPE 1.63

2. 2,162 20 Cracker PTTPE, BPE2 LDPE 420 112 40 shutdown start up 325 309 500 Emery

3. 2554 Hedging 1,275 4.6 2553 4,576

4. 2554 92 2,054 4,294 PPCL PTTUT (Step Up Acquisition) PTTCH PTTAR PTTAR 1,117 TTT, PTTME, NPC S&E 270 Claim HCU Unplanned Shutdown 2551 2554 400

5. 9,125 28 1,982 485 260 Actuarial Loss 19 339

79

6. 13,608 14 1,705 Plant PTTPE Ethane Cracker, LDPE, BPE2 and EA 2553 2554 1,600

7. 724 PTTGC 655 2554 1.53 900 Forward 200

8. 265 62

9. 3,102 122 13,671 PTTGC BOI PTTGC PTTGC 2554 2555

4. 31 2554

31 2554 372,967

- 18,973

- 41,482 Refinery 16,540 ( 40) Aromatic 10,640 ( 25) Olefin 5,986 ( 14) Polymer 5,411 ( 13) EO Based 1,643 ( 4) () 12 30

- 36,145 Refinery 12,498 ( 35) Aromatic 8,493 ( 23) Olefin 4,304 ( 12) Polymer 4,437 ( 12) ( ) 12 31

80

- 2,250

- 235,343

- 20,414 10,742 7,743 1,168 8,505 3,660 3,084

31 2554 164,512

- 2,103

- 27,269 Refinery 9,503 ( 35) Aromatic 9,614 ( 35) Olefin 1,377 ( 5) () 15 24

- 1 19,961

- 98,102 54,824 43,278

31 2554 208,454 45,061 48,925 17,765 86,290 9,950

81

2554

1.75 EBITDA 10.79 %

5.95 %

8.05 %

14.41 %

0.58

0.47

EBITDA 1.79

:

=

EBITDA = EBITDA

=

=

=

=

=

=

EBITDA EBITDA

82

(Risk Management)

(RMC)

(MC) (CFRM)

Value at Risk (VaR)

/

(Risk Factors)

2

83

(Industrial Risks)

(Price Risks)

:

84

(Feedstock Risk)

. .

. . . . . .

:

(Cluster-of-Plants Risk)

85

(Logistics Cost)

: (Cluster) Green Industrial Eco-industrial Concept (Safety Distance) (Mutual Aid Agreement)

(Environmental Risk)

86

: (Eco-Efficiency) ISO 14001

(Financial Risks)

() (FX Risk)

(USD Linked) (Natural Hedge) (USD Product-to-Feed Margin)

(Thai GAAP)

87

: (Product-to-Feed Margin) (Forward)

() (Interest Rate Risk)

:

1.

2.

(Government Policy Risk)

:

88

(Company-specific Risks)

(Conflict-of-Interests Risk)

. . 48.92

: . .. 2535 .. 2551

(Supplier Risk)

. . . .

: . . ( ) . .

89

. .

(Plant Operation Risks)

( )

: (Preventive/Predictive Maintenance) (All Risks Insurance) (Business Interruption Insurance) (Third Party Liability Insurance)

(Project Risks)

(Construction-Typed Project) (M&A-Typed Project)

90

()

(Project Delay) (Cost Overrun)

(Execution Risk) (Logistics Risk)

:

91

(Human Resources Risk)

High Volume Specialty (HVS)

:

92

()

1/2554 19 2554

3 .. 2554 4

2/2555 17 2555

1. (Control Environment)

Creation of Long Term Value, Responsibilities, Equitable Treatment, Accountabilities, Transparency Ethics

93

2. (Risk Assessment)

(Mit igation Plan)

3. (Control Activities)

4

94

4. (Information and Communication)

2 . () . ()

5. (Monitoring)

(Ongoing Monitoring Activities) Balanced Scorecard (Separate Evaluations)

95

2554

96

: 1) 13 2554 CH Inter Myriant Corporation CH Inter 46.4

2) 6 2554 PTTGC International (USA) Inc. CH Inter 100

3) 12 2554 CH Inter NatureWorks LLC. CH Inter 50

4) 19 2554 PPCL 30 60 . () . ()

5) 19 2554 PTTUT 40 60 . () . ()

6) 15 2554 PTTGC International (Netherlands) B.V. CH Inter 100

7) 22 2554 PTTGC (Netherlands) Perstorp Holding France SAS PTTGC (Netherlands) 51

8) BSA - 25 15 10

9) EFT - 15 7.65

100%

100%

100%

100%

100%

100%

100%

100%

50%

51%

50%

40%

25%

24.98%

22.65%

20%

50%

46.4%

9.2%

15.34%

100%

100%

100%

100%

75%

60%

60%

60%

51%

50%

100%

P T T GC

P T T P E T S C L

P T T I C T

P T T PM

VN T

E F T

P T T E S

M Y R I A N T

A P I

MH PC

PerstorpHolding France

NatureWorks

B S A

T F A

PTTGC (USA)

AP ROH

EMERY

PTTGC (Netherlands)

B P E

TOCGC

EA

TO L

Bio Creation

NPC S&E

CH Inter

PPCL

PTTUT

PTTME

TTTTEX

Bio Spectrum

97

PTTPE

BPE

TSCL

TOCGC

EA

TOL

TFA

Bio Creation

NPC S&E

CH Inter

PTTGC (USA)

PTTGC (Netherlands)

AP ROH

Bio Spectrum

PPCL

PTTUT

PTTME

TTTTEX

EMERY

BSA

MYRIANT

PTTICT

PTTPM

VNT

EFT

PTTES

API

MHPC

Perstorp

NatureWorks

()

PTT Chemical International Private Limited

PTTGC International (USA) Inc.

PTTGC International (Netherlands) B.V.

PTT Chemical International (Asia Pacific ROH) Limited

Emery Oleochemicals (M) Sdn Bhd

Myriant Corporation

()

Alliance Petrochemical Investment (Singapore) Private Limited

Mehr Petrochemical Company Limited

Perstorp Holding France SAS

NatureWorks LLC

98

1.

(1)

(2) (3) (4) (5) (6) 2.

(1) (2) (3) (4) (5) (6) 3.

(1) (2) (3) (4) 4.

(1) (2)

3,548

3,802

6,489

25,912

7,297

2,062

49,109

2,628

9,764

951

6,575

2,832

2,812

25,562

2,693

1,999

820

751

6,263

11,105

457

11,562

3.4

3.6

6.2

24.7

7.0

2.0

46.8

2.5

9.3

0.9

6.3

2.7

2.7

24.4

2.6

1.9

0.8

0.7

6.0

10.6

0.4

11.0

19 2554 - 31 2554

/

()

99

19 2554 - 31 2554

/

()

5.

(1) EO/EG (2) EO Derivatives 6.

(1) ME/FA (2) CH Inter, Emery 7.

(1) (2) (3) 8.

(1)

(2)

2,797

638

3,435

2,520

3,029

5,548

527

426

1,056

2,009

945

397

1,342

104,830

2.7

0.6

3.3

2.4

2.9

5.3

0.5

0.4

1.0

1.9

0.9

0.4

1.3100.0

100

2554 . () (PTTCH) . () (PTTAR) 19 2554 () ()

2554 19 2554 () 31 2554 19 2554 () 31 2554

1. .

() (PTT)

-

48.92

-

1.

2.

3.

4.

-

51,838

60,671

135

891

61

- 17,576

- 221

- 23,152

- 1,155

19 2554

()

31 2554

101

2.

(PTTPM)

3.

() (VNT)

4.

(PTTICT)

-

( 25)

- (PTT)

-

-

PTTPM

-

-

( 24.98)

-

-

-

VNT

1.

2.

-

-

( 40)

-

PTTICT

1.

2.

-

11,561

3

- 5,411

- 2

1,187

7

- 631

- 6

2

18

55

- 13

- 65

- 9

19 2554

()

31 2554

102

5.

(SPRC)

6. . .

(PTTEPS)

7. .

()

(PTTEP)

8.

(PTTAC)

- (PTT)

36

-

-

-

. . (PTTEP)

(PTT)

- PTTEP

51

-

- (PTT)

65.32

- (PTT)

48.50

-

-

1,936

3,074

5

4

- 327

- 9

- 464

- 22

12

- 6

11

- 3

176

- 77

- 10

19 2554

()

31 2554

103

9.

()

(IRPC)

10.

(HMC)

11.

() (BCP)

12. .

(PTTT)

- (PTT)

39.02

-

-

- (PTT) 41.44

-

1.85

-

HMC

-

- (PTT) 27.22

-

-

- (PTT)

100

-

1,358

212

1

- 2,147

- 1

- 13

- 13

1,264

61

- 550

- 25

1

- 1

129

224

- 57

19 2554

()

31 2554

104

13.

()

(DHIPAYA)

14.

(ENCO)

15.

()

(TOP)

16.

(BSA)

17.

(PTTPL)

- (PTT)

13.33

-

- (PTT)

50

-

- (PTT)

49.10

-

- (

25

15

10 )

-

- (PTT)

100

-

42

31

- 77

1

37

- 3

2,552

1,183

- 45

56

8

- 7

8

94

50

- 5

- 26

19 2554

()

31 2554

105

18.

(EFT)

19.

(PTTES)

20.

(PTTME)

-

(

22.65)

- EFT

-

-

( 20)

-

PTTES

-

( 60)

- (PTT)

40

-

-

PTTME

-

2

2

9

7

1

- 1

128

51

6

- 82

- 80

- 66

19 2554

()

31 2554

106

22.

(PPCL)

-

( 60)

- (PTT)

40

-

-

PPCL

1.

2.

3.

4.

5.

6.

-

1,224

2

- 258

- 3

19 2554

()

31 2554

21.

(PTTUT)

-

( 60)

- (PTT) 40

-

-

PTTUT

1.

2.

3.

4.

5.

-

300

4

- 3

- 114

- 1

107

23.

(PTT TANK)

24. Myriant Corporation

25.

(ROC)

- (.)

100

-

-

(CH Inter) 46.4

-

- ()

64

-

1

- 1

- 3

4

- 4

19 2554

()

31 2554

108

/

/

110

10 19 2554

1.

2.

3.

4.

5.

6.

7.

8.

9.

10.

2,204,318,909

206,803,072

147,407,566

83,427,636

82,164,775

75,474,306

71,017,132

60,310,434

53,624,104

50,270,230

48.92

4.59

3.27

1.85

1.82

1.68

1.58

1.34

1.19

1.12

. ()

HSBC (SINGAPORE) NOMINEES PTE LTD

()

CHASE NOMINEES LIMITED 42

STATE STREET BANK EUROPE LIMITED

NORTRUST NOMINEES LIMITED-NT0 SEC

LENDING THAILAND

STATE STREET BANK AND TRUST COMPANY

THE BANK OF NEW YORK MELLON-CGT

TAXABLE

(1) .

1. . ()

2. [ . () 41.44]

(2) (Non-Voting Depository Receipt: NVDR)

(3)

1. () : 82,164,775

2. ( () 26) : 43,420,625

3. () [ () 75.95] : 8,541,081

(4) . 49.69

(5)

19 2554 300 971,484,372 21.56

(6) 8 (37)

111

()

1/2554 19 2554 30

114

: 59

/ - ()

- (M.B.A.) Utah State University,

-

-

-

-

- 10

(. 4010)

- Certificate in Advanced Management Program, Harvard Business School

-

(.) 6

- (.) 3

- Director Accreditation Program (DAP) 26/2004 (IOD)

- ()

- ()

- ()

- ()

-

2546 - 2554 /

. ()

.. 2551 - .. 2554 . ()

2543 - 2554 . ()2548 - 2553 . ()

.. - .. 2553 . ()

2553 - 2554 . ()

2550 - 2554 . ()

:

115

/ - 8

- 24

- 8

- 1 10 2 15

- 38

-

-

-

- (.) 9

- Director Accreditation Program (DAP) 60/2006 / Role of the Compensation

Committee (RCC) 9/2009 Role of the Chairman Program (RCP) 27/2012

(IOD)

-

2552 - 2554 / /

. ()

2550 - 2551

2550

:

/ - 1- 27 - - 9/2530- (.) 9- Director Certification Program (DCP) 76/2006 / Director Accreditation Program (DAP) 56/2006 Understanding the Fundamental of Financial Statement

(UFS) 3/2006 (IOD)

- - / - /

-

2551 - 2554 / / . () 9 2549 - 2551 (SME Bank)2548 - 2551 2548 - 2550

()

:

: 63

: 60

116

: 60

: 63

/ - ()

- M.S. (Civil Engineering), Stanford University, U.S.A.

- Ph.D. (Civil Engineering), University of Texas at Austin, U.S.A.

- (.) 15

- (.) 7

- Director Certification Program (DCP) 14/2002

(IOD)

-

-

-

- ()

- ()

2551 - 2554

. ()

2547 - 2550

. ()

2550 - 2554 . ()

2549 - 2554 ()

2548 - 2554 . ()

2547 - 2554 ()

:

/ -

- ()

- (...) .. 2515

- 40

- Director Accreditation Program (DAP) 94/2012

(IOD)

-

-

- - ()

- -

-

- - () ()

- - ()

- - ()

-

2552 - 2554

2551 - 2553 - ()

2551 - 2552 -

2548 - 2551 ( 10)

:

117

: 67

: 64

/ -

-

- MBA (Accounting), Central Michigan University

- (.) 38

- (... 14)

- 4 (TEPCoT 4)

- (.) 7

- (The International Auditors Fellowship Program)

- Audit of Computer Systems, Kingston Polytechnic

-

-


Audit Committee Program (ACP) 38/2012

(IOD)

- ()

-

(.)

2551 - 2553 ()

(D.S.I.)

2543 - 2549 (.)

:

/ -

- ()

- (FBI)

- 34


Director Accreditation Program (DAP) 73/2008

(IOD)

-

2553 - 2554 ()

2551 - 2552

2551 ()

:

118

/ - (..)

- (Aerospace Systems)

Cranfield Institute of Technology

- 46

-

- 30

- 32

- (.) 5

-

3


(IOD)

-

-

2551 - 2554

2548 - 2549 ()

2550 - 2551 ()

2549 - 2550

()

2548 - 2549

()

:

/ -

-

- ()

- Advanced Executive Program, Kellogg School of Management, Northwestern University, U.S.A.

- (.) 51


Financial Statement for Directors (FSD) 11/2011


(IOD)

- ()

-

-

- ()

2551 - 2552

2549 - 2551

2547 - 2549

:

: 60

: 53

119

/ -

- Post-Graduate Diploma, Hydraulic Engineering, International Institute

of Hydraulic Engineering, Delft

- 1

- 43

- 1 44 (..)

- (.) 51

-

2552 - 2554

2550 - 2552 (.)

:

/ -

- The Executive Management Seminar 2002 for Paper and Packaging Business,

The Wharton School, University of Pennsylvania

- 22

- (.) 2



(IOD)

-

- ()

-

-

-

-

-

2551 - 2553 (.)

2549 - 2553

2549 - 2552

2549 - 2551

2548 - 2551

:

: 56

: 52

120

/ - ()

-

- (.) 20

- Program for Global Leadership (PGL) Harvard Business School

- Oxford Energy Seminar

- Break Through Program for Senior Executives (BPSE)

IMD


(IOD)

-

. ()

- ()

- ()

.. - .. 2554 . ()

2552 . ()

2548 - 2552

. ()

.. - .. 2554

. ()

:

/ - () ( 2)

- TLCA Executive Development Program (EDP3) 2552



Monitoring the System of Internal Control & Risk Management (MIR) 12/2012

(IOD)

- . ()

-

- ()

-

-

2552 - 2553

. ()

.. - .. 2554

. ()

. ()2551 - 2552

()

2550 - 2551 ()

:

: 56

: 53

121

/ - ()

- ()

-

- (.) 17


(IOD)

-

. ()

- -

-

-

-

2553 - 18 .. 2554

. ()

2552 - 2553

. ()

2553 - 2554

2551 - 2552 ()

:

/ -

- () Texas A&I University, U.S.A.

- (TEPCoT) 2

- (.) 11


Finance for Non-Finance Directors Program (FND) 30/2006

(IOD)

-

. ()

- ()

- PTT Chemical International Private Limited

-

- Emery Oleochemicals (M) Sdn Bhd

- PTT Chemical International (Asia Pacific ROH) Limited

-

-

-

-

2551 - 18 .. 2554 . ()

2549 - 2552 . ()

.. - .. 2551

. ()

2550 - 2551 . ()

:

: 57

: 57

122

01

02

03

04

05

06

07

030204

0607

0105

123

08

09

10

11

12

13

14

15

HVS

1009

11

1312 1514

08

124

/

-

- () Texas A&I University, U.S.A.

- (TEPCoT) 2

- (.) 11


Finance for Non-Finance Directors Program (FND)

30/2006 (IOD)

-

. ()

- ()


-



-

/

- ()

- ()

-

- (.)

17


(IOD)

-

. ()

- -

-

/

- Ph.D. (Mechanical Engineering), Illinois Institute of Technology, U.S.A.

- Master of Science (Mechanical Engineering), Texas A & I University, U.S.A.

-

- Advance Management Program, Harvard Business School, U.S.A.


(IOD)

-

- Advanced Biochemical (Thailand) Company Limited

- ()

-

-

- Myriant Corporation

-

-

-

-

2551 - 18 .. 2554

. ()

2549 - 2552 . ()

.. - .. 2551

. ()

2550 - 2551 . ()

:

-

-

2553 - 18 .. 2554

. ()

2552 - 2553

. ()

2553 - 2554

2551 - 2552 ()

:

2551 - 18 .. 2554

. ()

2548 - 2549 /

. ()

2549 - 2550 . ()

2551 - 2554

2551 - 10 .. 2555 Alliance Petrochemical Investment

(Singapore) Pte., Ltd.

Mehr Petrochemical Company (MHPC) :

01

02

03

57

57

57

125

/

-

-

- The Advance Management Program (AMP),

Harvard Business School, U.S.A

- Chief Finance Officer (CFO) 1/2547

()


(IOD)

- Executive Committee ()

- PTTGC International (Netherlands) B.V.

-

-


/

-

The American University, U.S.A.

-

( 2),

-

8 (. 8)

- 2552

5 (Ex - PSM 5)

( .)


(IOD)

-

-

/

-

- (International Program)

- Senior Executive Program (SEP)

- Directors Accreditation Program (DAP) 91/2011

(IOD)



- Emery Oleochemicals (M) Sdn. Bhd


-

- Advanced Biochemical (Thailand) Company Limited

-

2551 - 18 .. 2554

. ()

2548 - 2550

. ()

2551 - 2554

2551 - 2553

2550 - 2553

2550 - 2551

:

-

-

-

-

-

2552 - 18 .. 2554

. ()2546 - 2552

()

2552 - 5 .. 2555

:

-

-

-

-

2552 - 18 .. 2554

. ()

:

04

05

06

52

51

48

126

/

- -

University DAix-Marseille,

- ()

- Business Program NIDA-Wharton

2


(IOD)

-

-

/

-

()

-

- The Strategy Challenge (TSC) Program 2010, IMD

- INSEAD Advanced Management Program 2010,

INSEAD Executive Education, France

- NIDA-Wharton Executive Leaders 2005, Wharton School of Business,

University of Pennsylvania, U.S.A.

- The Boards role in mergers and acquisitions 1/2011

(IOD)

-

. ()

/

- B.Sc., Chemical Engineers, New Jersey Institute of Technology, U.S.A.

- M.Eng., Chemical Engineers, Manhattan College, New York, U.S.A.

- Senior Executive Program (SEP),

- Advance Management Program (AMP),

Harvard Business School, U.S.A.


Role of the Chairman Program (RCP) 27/2012

(IOD)

-

-

- ()

-

2551 - 18 .. 2554

. ()

2549 - 2550

. ()

:

-

-

-

-

-

2552 - 2553

. ()

2550 - 2551

. ()

2548 - 2550

. ()

:

-

-

-

2553 - 18 .. 2554

. ()

1 .. - 30 .. 2553

. ()

2549 - 2554

:

07

08

09

57

54

55

127

/

- Master of Public and Private Management,

National Institute of Development Administration (NIDA)

-

- Asean Executive Program (AEP), GE Crotonville


(IOD)

- PTTGC International (USA) Inc.

-

-

-

-

/

-

-

-

- Advanced Management Program, Harvard Business School, U.S.A.


(IOD)

-

-

-

/

-

- M.S.E.C. (Process Technology), Department of Chemistry

and Chemical Engineering,

University of Detroit, Michigan, U.S.A.

-

2552 - 18 .. 2554

. ()

2551 - 18 .. 2554

. ()

2551

. ()

2548 - 2550 I-4

. ()

2552 - 15 .. 2555

2551 - 5 .. 2555

2552 - 2554 ()

:

2550 - 18 .. 2554

. ()

2553 - 2554

2551 - 2554

:

1 .. - 1 .. 2552

. ()

2551 - 2552

. ()

:

10

11

12

55

57

56

128

/

- Master of Science (Mechanical), Manhattan College,

New York, U.S.A.

- Bachelor of Science (Mechanical), New York Institute

of Technology, U.S.A.

- Senior Executive Program 2007, Stanford University, U.S.A.

- 2548

-

- Senior Executive Program

- Director Certificate Program (DCP) 79/2006

(IOD)

-

- ()

-

-

- Alliance Petrochemical Investment (Singapore) Private Limited

- Mehr Petrochemical Company Limited

/

-

-

- Senior Executive Program

(SEP 19)

- Business Program NIDA-Wharton

3


Financial Statements for Directors (FSD) 4/2009

(IOD)

/

-


(IOD)

-

-

- PTTGC International (Netherlands) B.V.

- PTTGC International (USA) Inc.


2548 - 18 .. 2554 . ()

2548 - 2550

2552 - 2554

2551 - 2554 PTT Chemical International Private Limited

PTT Chemical International (Asia Pacific ROH) Limited

2548 - 2553

2548 - 2554

:

-

-

-

2552 - 18 .. 2554

. ()

2554

2552 - 2554

2549 - 2551

:

2553 - 18 .. 54

. ()

2552 - 2553

. ()

2552

. ()

2554

:

13

14

15

56

56

HVS 54

129

Supply Chain

Chief Executive Officer

Emery Oleochemicals (M) Sdn Bhd

131

() .. 2535 . () . () () 1/2554 19 2554 001/2554 () 19 2554

132

1.

2.

3.

4. *

5.

6.

7.

8.

9.

10.

11.

12.

13.

14.

15.

: * 2/2554 11 2554 22 2554

31 2554

133

5 15

(1/3) 3 (1/2)

70

(1)

(2) (1)

(3) (1)

134

(2) (3/4)

(1)

(1/3) (3)

(3/4) (1/2)

135

(1)

(2)

(3)

(4) (5)

(6)

(7)

(8)

(9)

(10)

136

(11)

(12) 1

(13)

(14)

(15)

(16)

/

/

137

2

2/2554 11 2554 (1) (2)

1/2554 19 2554

4

31 2554

3 1 /

138

31 2554

3

-

-

-

-

-

-

-

-

139

-

-

-

-

-

-

-

-

-

-

1)

2)

3)

-

140

-

-

-

1

:

3 (1)

31 2554

()

()

3

141

4/2554 26 2554

:

- /

- / /

-

:

3 (1)

31 2554

()

()

()

142

3 4/2554 26 2554

:

- /

-

-

:

3 (1)

143

31 2554

()

3 4/2554 26 2554

:

-

-

-

-

:

144

(1/3) (3)

... 0.5 (... 1)

(1) 0.5

(2) 2

(3)

(4) 2

145

3 20 1

(5) ( 10 ) 2

(6) 2 2

(7)

(8) 1

(9)

(collective decision)

146

31 2554 9 1 3

...

1.

2.

3.

4.

5.

6.

7.

8.

9.

147

... ( 4) ..2551 89/15

/ 1/2554 19 2554

2554 ( 19 - 31 2554)

2554

4 2 1 1 1

148

. () . () 18 2554

1.

60,000 /

50,000 /

2.

- 50,000 /

- 40,000 /

149

1.

2. ...

3.

4. *

5.

6.

7. ...

8. ...

9.

10.

11.

12.

13.

14. **

15. **

4/4

2/4

1/1

4/4

2/2

2/2

4/4

1/1

4/4

2/2

4/4

1/1

4/4

1/1

4/4

2/2

4/4

1/1

4/4

1/1

4/4

1/1

4/4

1/1

4/4

1/1

1/1

4/4

/

()

145,161.29

120,967.74

50,000.00

120,967.74

100,000.00

83,333.34

120,967.74

50,000.00

120,967.74

80,000.00

120,967.74

40,000.00

120,967.74

40,000.00

120,967.74

80,000.00

120,967.74

40,000.00

120,967.74

40,000.00

120,967.74

40,000.00

120,967.74

50,000.00

120,967.74

40,000.00

40,000.00

120,967.74

()

145,161.29

170,967.74

220,967.74

83,333.34

170,967.74

200,967.74

160,967.74

160,967.74

200,967.74

160,967.74

160,967.74

160,967.74

170,967.74

200,967.74

120,967.74

2554

( 19 31 2554)

: * 2/2554

22 2554 11 2554

**

150

(1) PTTAR 1 - 18 2554

()

2554 ()

()

()

1. 1 .. - 11 .. 54 54,666.67 30,000.00 1,524,603.40 1,609,270.07

2. 1 .. - 29 .. 54 120,000.00 60,000.00 1,828,615.61 2,008,615.61

3. 1 .. - 29 .. 54 120,000.00 60,000.00 1,828,615.61 2,008,615.614. 1 .. - 12 .. 54 135,999.99 120,000.00 1,921,141.06 2,177,141.05

5. 1 .. - 21 .. 54 147,999.99 60,000.00 90,000.00 1,980,621.71 2,278,621.70

6. 1 .. - 21 .. 54 147,999.99 1,980,621.71 2,128,621.70

7. 1 .. - 19 .. 54 231,666.66 2,707,090.78 2,938,757.44

8. 1 .. - 18 .. 54 384,000.00 200,000.00 3,170,234.70 3,754,234.70

9. 1 .. - 18 .. 54 384,000.00 240,000.00 3,170,234.70 3,794,234.70

10. 1 .. - 18 .. 54 384,000.00 240,000.00 180,000.00 3,170,234.70 3,974,234.70

11. ... 1 ..- 18 .. 54 384,000.00 180,000.00 150,000.00 3,170,234.70 3,884,234.70 12. 1 ..- 18 .. 54 384,000.00 3,170,234.70 3,554,234.70

13. 1 .. - 18 .. 54 384,000.00 90,000.00 2,847,380.70 3,321,380.70

14. 1 .. - 18 .. 54 384,000.00 210,000.00 2,596,653.70 3,190,653.70

15. 1 .. - 18 .. 54 384,000.00 180,000.00 2,232,583.70 2,796,583.70

16. 20 .. - 18 .. 54 310,666.67 90,000.00 1,559,714.80 1,960,381.47

17. 20 .. - 18 .. 54 238,666.66 60,000.00 1,196,221.94 1,494,888.60

18. 20 .. - 18 .. 54 238,666.66 90,000.00 1,196,221.94 1,524,888.6019. 21 .. - 4 .. 54 284,666.65 1,318,487.73 1,603,154.38 20. 21 .. - 18 .. 54 237,333.33 90,000.00 1,189,612.98 1,516,946.31 21. 21 .. - 18 .. 54 237,333.33 60,000.00 1,189,612.98 1,489,946.31

5,577,666.60 570,000.00 750,000.00 470,000.00 690,000.00 44,948,973.85 53,006,640.45

PTTAR PTTCH 2554

151

(2) PTTCH 1 - 18 2554

()

2554 ()

()

()

1. 1 .. - 28 .. 54 116,129.03 1,281,759.80 1,397,888.83

2. 1 .. - 10 .. 54 54,285.72 604,047.72 658,333.44

3. 1 .. - 21 .. 54 146,666.67 120,000.00 40,000.00 1,635,348.71 1,942,015.38

4. 1 .. - 21 .. 54 146,666.67 30,000.00 40,000.00 1,635,348.71 1,852,015.38

5. 1 .. - 30 .. 54 160,000.00 1,767,944.55 1,927,944.55

6. 11 .. - 5 .. 54 233,763.45 2,637,183.95 2,870,947.40

7. 1 .. - 18 .. 54 479,032.26 5,359,081.92 5,838,114.18

8. ... 1 .. - 18 .. 54 383,225.81 210,000.00 80,000.00 4,287,265.52 4,960,491.33

9. .. 1 .. - 18 .. 54 383,225.81 30,000.00 4,287,265.52 4,700,491.33

10. 1 .. - 18 .. 54 383,225.81 90,000.00 70,000.00 4,287,265.52 4,830,491.33

11. 1 .. - 18 .. 54 383,225.81 210,000.00 4,287,265.52 4,880,491.33

12. 21 .. - 18 .. 54 236,559.14 90,000.00 2,666,649.69 2,993,208.83

13. 21 .. - 18 .. 54 236,559.14 2,666,649.69 2,903,208.83

14. 21 .. - 18 .. 54 236,559.14 30,000.00 2,666,649.69 2,933,208.83

15. 21 .. - 18 .. 54 236,559.14 2,666,649.69 2,903,208.83

16. 21 .. - 18 .. 54 236,559.14 30,000.00 2,666,649.69 2,933,208.83

17. 24 .. - 18 .. 54 310,368.67 3,491,690.48 3,802,059.15

18. 1 .. - 18 .. 54 383,225.81 90,000.00 4,287,265.52 4,760,491.33

19. 1 .. - 18 .. 54 383,225.81 4,287,265.52 4,670,491.33

5,129,063.03 630,000.00 100,000.00 260,000.00 170,000.00 57,469,247.41 63,758,310.44

152

2554

(PTTPE) ( 100)

()

240,000

() (BPE) ( 100)

()

1. 480,000

2. 360,000

( 20 2554)

(NPC S&E) ( 100)

()

180,000

( 20 2554)

(TOL) ( 100)

()

330,000

( 20 2554)

(TFA) ( 100)

()

330,000

( 20 2554)

. (CH Inter) ( 100)

()

20,000

153

(PTTUT) ( 60)

()

15,000

( 1 2554

5 2555)

(PPCL) ( 60)

()

1. 60,000

( 1 2554)

2. 225,000

(

)

3. 180,000

4. 60,000

( 20 2554)

(PTTME) ( 60)

()

180,000

( 20 2554)

(TTT) ( 51)

()

240,000

( 26 2554)

(Emery) ( 50)

()

75,000

154

1.

2. ...

3.

4.

5.

6.

7. ...

8. ...

9.

10.

11.

12.

13.

14.

15.

21 2554 (

)

/

0.006017%

271,142

-

- 0.006627%

298,647 *

( 12,953 )

-

-

-

-

-

-

-

0.000001%

54

-

0.004968%

223,868

0.004351%

196,095

( 3,509 )

/ ()

()

-

-

- (2)

- - - - - - - - - - -

ESOP Warrant

()

-

- -

- - - - - - - - - - 89 ** -

31 2554

45,061,129,360

/

0.006017%

271,142

-

-

0.006627%

298,645

( 12,953 )

-

-

-

-

-

-

-

0.000001%

54

-

0.004968%

223,868

0.004351%

196,095

( 3,509 )

: * 11 2554

** ESOP Warrant PTTAR

155

1.

2.

3.

4.

5.

6.

7.

8.

9.

10.

11.

12.

21 2554 (

)

/

0.004351% 196,095

( 3,509 )

0.004968%

223,868

0.001951%

87,917

0.003515% 158,389

( 25,065 )

-

0.001523% 68,639

0.000002% 119

0.000172%

7,772

0.002543%

114,629

0.002132% 96,086

( 24,313 )

0.000689%

31,084

( 31,084 )

0.002543%

114,629

/ ()

()

- -

-

-

-

-

-

- -

-

-

-

ESOP Warrant

()

-

89 **

-

-

-

155,572 **

-

-

-

-

-

-

31 2554

45,061,129,360

/

0.004351% 196,095

( 3,509 )

0.004968%

223,868

0.001951%

87,917

0.003515%

158,389

( 25,065 )

-

0.001523%

68,639

0.000002%

119

0.000172%

7,772

0.002543%

114,629

0.002132%

96,086

( 24,313 )

0.000689%

31,084

( 31,084 )

0.002543%

114,629

: ** ESOP Warrant PTTAR

156

()

: ** ESOP Warrant PTTAR

13.

14.

15.

HVS

21 2554 (

)

/

0.000373% 16,831

( 9,681 )

0.000002%

97

0.001895% 85,401

( 10,362 )

/ ()

()

-

-

10,362 (10,362)

ESOP Warrant

()

-

-

279,694 **

31 2554

45,061,129,360

/

0.000373% 16,831

( 9,681 )

0.000002%

97

0.002125% 95,763

( )

3 . .

2554

1 2555

157

2554

(1) 16 19 - 31 2554 31,177,945.07

(2) PTTAR PTTCH 1 - 18 2554 113,977,067.51

PTTAR 1 - 18 2554

PTTCH 1 - 18 2554

1.

1.

2.

2.

3.

3.

4.

4.

5.

5.

6. ..

6. 7. 8.

:

/ =

// =

x =

PTTGC

BPE

PTTPE

NPC S&E

PTTUT

PPCL

PTTME

TTT

CH Inter

AP ROH

EMERY

PTTGC

(Netherlands)

PTT

IRPC

BCP

PTTAC

SRPC

PTTPM

VNT

/

1.

X

X

2.

...

/

3.

/

4.

/ /

X

X

5.

/

6.

/

7.

...

/

8.

...

/

9.

/

10

.

/

11

.

/

12

.

/

//

/

13

.

/

//

/

14

.

/,//

/,//

X /

X

/

//

15

.

/,//

X

X

X X

/ //

/ /

158

/

/

PTTGC

TOCGC

EA

TEX

TOL

TFA

BPE

PTTPE

TSCL

Bio Creation

NPC S&E

PTTUT

PPCL

PTTME

TTT

CH Inter

AP ROH

EMERY

PTTGC (USA)

PTTGC

(Netherlands)

PTT

PTTPM

VNT

PTTICT

EFT

PTTES

MHPC

Myriant Corporation

API

HMC

/

:

/ =

// =

X =

PTTP

E =

BPE

=

(

)

TSCL

=

TOCGC

=

EA

=

TOL

=

TFA

=

Bio

Creat

ion =

NPC

S&E

=

CH

Inter

= PT

T Che

mical In

ternat

iona

l Priv

ate

Limite

d

PTTG

C

= PT

TGC In

ternat

iona

l (Nethe

rland

s) B.V.

(Nethe

rland

s)

BS

A

=

MYR

IANT

= Myriant C

orpo

ratio

n

PTTIC

T =

PTTP

M

=

VNT

=

(

)

EFT

=

PTTES

=

API

= Allia

nce

Petro

chem

ical In

vestmen

t

(Singa

pore) Privat

e Limite

d

MHP

C

= Meh

r Petroch

emical C

ompa

ny

Limite

d

PTTG

C (US

A) =

PT

TGC In

ternat

iona

l (US

A) Inc.

AP RO

H =

.

(

)

Bio Sp

ectru

m =

PPCL

=

PTTU

T =

PTTM

E =

TTT

=

TEX

=

EMER

Y =

Emery Oleoc

hemicals (M

) Sd

n Bh

d

PTT

=

.

(

)

BCP

=

(

)

IRPC

=

(

)

PTTA

C

=

HMC

=

SPRC

=

Nat

ureW

orks =

Nat

ureW

orks LLC

Perst

orp

= Pe

rstorp

Holding

Fran

ce SAS

1.

/ , //

x

x x

X

/ //

/ /

2.

/ , //

/,//

x /

x

/

//

3.

//

x

/

/

/

/

4.

//

/

/

/

/ /

/

/

/,/

/

5.

//

/ /

/

/

/

/

/

6.

//

/

/

/ /

/ /

7.

//

/

/ /

/

8.

//

/

/ /

/

//

/

9.

//

/

/

/

/

X

10.

//

/

/

/ /

x

11.

//

/

/ /

12.

//

/

13

.

//

/

/ x

/

/

/

14.

//

x x

/

15.

//

x

x

/ /

/

159

/

/

160

. () (PTTAR) . () (PTTCH)

(Business Model) Supply Chain

3 (Corporate Center) (Pooling Resources) Shared Services Group Performance Center (GPC) Business Unit (BU) GPC (Reliability) BU

(Check and Balance)

(Benefit Harmonization)

161

GC SPIRIT . (Global Player) Flagship .

GC SPIRIT

(Transition Period)

/

Corporate Governancein compliance with International Standard

164

() . ()

(PTTCH) . () (PTTAR) 19 2554 (Chemical Flagship) . (Integrated Petrochemical and Refining)

/

Creation of long-term value, Responsibility, Equitable treatment, Accountability, Transparency Ethics (C R E A T E) CG 2555

www.pttgcgroup.com

165

2554

5

1. (The Rights of Shareholders)

1.1

(...)

2555 2555 AGM Checklist 2555

(Record date) / 30

166

( ) 21 ( 14 )

2555 2 (Barcode)

...

167

... 14 2554 PTTCH PTTAR 90

1.2 [email protected] [email protected]

2. (The Equitable Treatment of Shareholders)

168

4/2554 26 2554 0.5 1

2555 26 2554 31 2555 19 2554 3 2555 1

169

(Insider Trading)

1.

2.

3. 45 60 24

4. . . . --- 3

170

1. ...

2.

3. (The Role of Stakeholders in Corporate Governance)

:

CG

171

:

/

2554 26 2554

:

172

:

:

:

173

:

174

PTTGC Core Values GC-SPIRIT I = Integrity & Ethics (CG)

Management Site Visit

:

PTTGC Core Values GC-SPIRIT R = Responsibility for Society

175

ISO26000 UNGC GRI .

4. (Disclosure and Transparency)

4.1

1. ... ... 19 2554

176

2. (Fiduciary Duties)

3. ...

4.2

SET Community Portal

4.3

1. (Investor Relations)

177

2554 / Investor Relations / : [email protected]

2. (Corporate Communication and Branding)

PTTGC 21 2554

/

(Photo Release) (Press Release) (Scoop) (Calendar News)

3. (CSR) (Sustainability Report) 2554 Global Reporting Initiative (GRI) G3.1

178

e-mail address : [email protected]

5. (Responsibilities of the Board)

5.1

5.1.1

. () (PTTCH) . () (PTTAR) 18 2554 15 4 (, ) 2 9 56-1

179

(Management Committee)

5.1.2

... 9 1 3

... 0.5 (... 1) 2554

180

5.1.3

1/2554 19 2554 4

(1)

3 3

(2)

3 2 3

181

(3)

4 3 3 / ...

(4)

3 1 3

5.1.4

89/15 ... ..2535 ... 4 ..2551 1/2554 19 2554

(Compliance) /

182

email : [email protected]

5.2

3 ... 3 3 / 56-1

5.3

1)

183

2)

3)

4)

5.4

(IOD) / // /

184

5.5

... IOD

PTTGC Suppliers Code of Conduct

185

. PTT Group CG Day . 2554 . PTT Group CG Day 2555 .

5.6

5.6.1

5.6.2

186

5.7

(Corporate Risks)

5.8

2554 19 2554 4 ...

7

/

187

2 1

5.9

/

188

5.10

(Key Performance Indicator)

5.11

3 4/2554 26 2554

2554 2554 2555

5.12

2555 ...

189

1.

2. (Board Orientation) Plant Visit 19 2554

5.13

(Career Management) (Talent Management & Succession Planning)

190

19 2554

1.

2.

3. 2555

4.

5. 2555

6.

191

( )

192

()

19 31 2554 1

193

( )

194

() 19 2554 3 1

2554 1 2554

1.

2.

3.

( )

Financial Report

Prosperity

Finance

Global

196

() 11 .. 2543

()

()

( ) ( )

197

() 1/2554 19 2554

2554 2 1 1 1 2554 17 2555

1. 2554 2554 2554

2.

198

3.

4. 2554 2555

5. /

6.

7. 2554

8. 2316 3378 3565 4068 2555

199

( )

200

()

31 2554 19 2554

() 31 2554 ()

()

31 2554 19 2554 () 31 2554

()

()

( )

3565

17 2555

201

18,973,235,320

3,632,406,455

41,482,265,978

544,243,646

36,145,301,273

-

-

442,270,386

2,249,869,493

54,052,594

1,713,017,071

105,236,662,216

-

-

6,177,580,837

327,022,741

-

235,343,015,627

10,741,678,397

1,167,902,994

8,505,126,747

346,719,945

364,107,061

4,756,840,715

267,729,995,064 372,966,657,280

9,155,276,500

2,000,000,000

33,462,976,680

445,737,901

24,729,966,486

3,944,680,433

6,545,000,000

442,270,386

1,627,014,496

11,837,570

953,355,567

83,318,116,019

59,111,587,259

210,000,000

3,398,891,913

290,738,392

16,886,000,000

135,255,213,114

7,009,726,812

1,064,602,733

4,246,373,891

346,719,945

-

3,424,188,265

231,244,042,324 314,562,158,343

6

11

5, 7

5

8

5

5

9

9

10

11

5

12

14

13

15

16

()

31 2554

()

202

()

17

5, 18

5, 19

5

5, 17

17

17

5, 17

17,20

17

17

16

21

2,102,809,184

27,268,919,047

3,061,644,530

247,

pttgc: annual report 2011 th

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