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Annual Reports

The Cogeneration PLC

CORPORATE PROFILE

The Cogeneration Public Company Limited - better known as COCO - is a pioneering company in the power supply industry. Utilizing advanced cogeneration technology, the COCO plant at Map Ta Phut Industrial Estate in Rayong produces electricity, steam and treated water for sale to industrial and petrochemical production facilities, feeding the balance of electricity into the Electricity Generating Authority of Thailand (EGAT)'s national grid pursuant to the government's initiative to purchase power from small private producers.

Phatra Insurance PLC

TECHNOLOGICAL DEVELOPMENT

Following many years of development, a fully integrated data processing system is now ready for implementation. Realizing that the system and software are only as efficient as the people operating it, all staff have completed a training course and are provided with high-quality hardware at a ratio of two staff to one terminal. Groupware will be introduced and front-end software has been upgraded to ensure efficient uninterrupted data transfer to operators on the network. It is anticipated that this coherent system will allow the company to meet its information processing objectives in less time with fewer people, and therefore to sustain growth without additional personnel.

S Khonkaen Food Industry PLC

MESSAGE FROM THE CHAIRMAN

The price of live swine skyrocketed in 1995 to its highest level in 50 years. With an average price that was 21% higher than the year before, the company's costs as well as sales were directly affected as pork is the main ingredient in our products. Despite this, however, the company maintained its continuous course of growth in 1995, even reaching its highest level of both sales and profit since listing on the Stock Exchange of Thailand.

This success is partly attributable to the company's calculated diversification into the snack food sector - a six-billion-baht-a-year market in Thailand with a huge demand for the kind of meat snacks we produce. Products launched during the last quarter of 1995 include PORKA brand seasoned roasted pork and PORKY rice crackers with shredded pork, which have already taken a 7% market share.

Thai Airways International

CHAIRMAN'S STATEMENT

Throughout this momentous and historic year when Thailand celebrated the Golden Jubilee of His Majesty King Bhumibol Adulyadej's Accession to the Throne, Thai Airways International Public Company Limited - the national carrier - played an active role in organizing numerous activities in honor of His Majesty the King on this auspicious occasion. While all THAI aircraft were adorned with the Golden Jubilee emblem, in-flight documentaries such as "His Majesty King Bhumibol Adulyadej" and "Palace in the Clouds" ("Vimarn Mek Vimarn Sawan") were produced to present passengers with a chronicle of some of the significant events in the life of His Majesty the King.

This year also marked THAI's thirty-sixth anniversary, and saw a renewed commitment to streamlining the organization and its operations through the reengineering program begun in 1995. A sharp focus on enhanced customer service, more efficient operations and lower costs has brought noticeable improvements that ultimately will see THAI positioned not just to compete, but to lead the worldwide airline industry. Through the total support of directors, management and more than 22,000 employees throughout every facet of the organization, THAI's reengineering effort is indeed ushering in a new era for the airline.

Syn Mun Kong PLC

MESSAGE FROM THE CHAIRMAN

The growth of the insurance industry last year continued to parallel the country's overall economic expansion as it has for the past half dozen years, with the added encouragement provided by the huge investments made during 1994-95 in infrastructure megaprojects.

The year 1995 will go on record as the most successful ever for our company in all aspects of its operations. Gross written premiums increased 41% - 20% higher than the industry average. With a focus on profit efficiency as well as bringing in more business, net profit rose a healthy 38% for the year.

Robinson Department Store PLC

SOCIAL CONTRIBUTIONS

In the process of expanding its operations into the provincial areas, Robinson took into consideration not only its business objectives but also the contributions these activities would make to the local communities. Primarily, this meant the creation of jobs for area residents. But there were other benefits as well, like the enhanced quality of life of the provincial people when high-quality merchandise at reasonable prices was made available right in their own neighborhood, putting an end to the costly and laborious process of traveling to the capital to shop. A third important benefit would be realized by those in the agricultural, fishery and industrial sectors as more venues for sales opened up around the country.

Esso

REACHING INWARD: THE SPIRIT OF LEADERSHIP

Esso's goal of market leadership has not wavered in the course of the century that the company has been established in Thailand, although the world in which it operates certainly has. Viewing ourselves over the past year against a backdrop of deregulation and fierce competition resulted in a revitalized commitment to that goal and the course we are taking to reach it, a policy centered on human resources that begins by attracting the best and the brightest, nurturing them, and creating the team culture that is essential to the task at hand. Let us look at Esso Thailand 1996 through the eyes of one hypothetical new recruit as he or she arrives at company headquarters on day one of a new career.

Ch. Karnchang PLC

COMPANY PROFILE

Ch. Karnchang Public Company Limited has a record of achievements that spans more than two decades since its establishment as Ch. Karnchang Co., Ltd. in 1972. The company's operations focused initially on the construction of buildings and civil works for a group of customers that was largely comprised of government agencies.

Then in 1981 the company entered into a strategic joint venture with Tokyu Construction, one of Japan's top ten contractors, establishing Ch. Karnchang - Tokyu Construction Co., Ltd. to obtain technological expertise and form a calculated alliance for diversification and growth.

The current period of rapid expansion for the company began in 1984 as a result of its continuous commitment to raising its competency to ever higher levels in terms of personnel, equipment and technology. This, combined with joint ventures with other foreign construction firms, has in turn allowed the company to undertake projects on an increasingly larger and more complex scale.

Petroleum Authority of Thailand

THE ECONOMY & THE PETROLEUM INDUSTRY IN 1995

The year 1995 both began and ended with stable world oil prices, although the average price of crude rose US$1.2 per barrel over the previous year. Factors contributing to this departure from what had been a consistent trend were the American-led trade embargo against Iran, Iraqi-American political tension and the severe winter experienced in the American midwest, all of which had a psychological impact on the price of crude at year's end, leading it to rise about US$2.00 per barrel in the last quarter. Meanwhile, oil prices were US$.06 per barrel higher than the previous year, having risen at a lower rate than crude, which is attributable to the expanded capacity of the Asian oil producers.

This combination of factors resulted in a large volume of oil products in the market, and it is anticipated that both oil price and demand in 1996 will mirror that of 1995 due to the recurrence of a severe winter and general worldwide economic recovery. As OPEC members are maintaining their current production ceiling of 24.52 million barrels per day, the price of crude from those countries is expected to remain at US$16-19 per barrel in 1996.

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