Project Feasibility Study
Thai-North Rubber Industry Co., Ltd.

Lee La Wa Dee Group
Mae Fah Luang University, Thailand

THAI-NORTH RUBBER INDUSTRY CO., LTD

To Lecturers: Mr. Chaiyawat Thongintr
Module: 1203302 – Project Feasibility Study Evaluation 2010 Semester: 2, 2010/2011 Department: Business Administration

Class Roster – 1203302_Sec 01

By: Lee La Wa Dee Group
1. Miss Jaruwan Muangpang 2. Miss Chanida Ploddee 3. Miss Chutinard Kunmaneelert 4. Miss Ponphan Kong-iam 5. Miss Rattanaporn Mekthrong ID: 5031203014 ID: 5031203019 ID: 5031203021 ID: 5031203047 ID: 5031203057

Credits and acknowledgments borrowed from other sources, with permission, in this project appear on appropriate page within text.

THAI-NORTH RUBBER INDUSTRY CO., LTD

Mae Fah Lunag University. This Project is organized into 7 Chapters. Chaiyawat Thongintr the Lecturers of Project Feasibility Study Evaluation. Chapter 5 Financial Analysis. Chapter 4 Technical Operation Feasibility Study. Chapter 6 Risk Management and Final Chapter Summary Student or entrepreneur who interest about rubber business or rubber industry in Thailand and have the group of customers in China should read this project We hope the reader will get the benefit from this project. Business Administration department. The information that we use to support this project can practically. We study and operation this business plan to be close possibility. This project will not happen if we don’t have supported by Mr. By Lee La Wa Dee Group we are students of Mae Fah Luang University. Chapter 1 Introduction. Chapter 2 Industry Profile Chapter 3 Market Feasibility Study.PREFACE The Purpose of this project is to explain how to make the business plan of Thai-North Rubber Industry Company Limited to be feasibility for study and evaluation in subject of Project Feasibility Study Evaluation 2010 (1203302). Thailand .

4 Promotion 3.2 STP analysis 3.3.3.2.5 Activities and Gantt chart 1 2 3 3 4 4 Chapter 2 Industry Profile 2.2.2 PES Analysis 3.3.1 Market Analysis 3.3 Marketing Mix Strategy 3.3.TABLE OF CONTENTS Chapter 1 Introduction 1.1 Rubber Industry in the World 2.1 Product 3.1.2 History of rubber in Asian 2.3.2 Objective 1.2 Rubber Industry in Asia 2.2.1 Market segment 3.3.1.1 General Environment Analysis 3.3 History of rubber in Thailand 2.3 Benefits of this Study 1.2 Situation of Industry 2.3Positioning 3.2.3.1 History of rubber in Europe 2.3 Mission of our organization 2.3 Place 3.3 Competition Analysis 3.3 Summary of Market value 2.3.1 Nature of Industry 2.2 Price 3.4 History of rubber in China 2.2.4 Strategy 5 6 6 8 9 10 11 11 16 18 25 27 27 28 28 29 Chapter 3 Market Feasibility Study 3.4 Sale Forecast/Profit estimate 3.1.2 Market Target 3.1.2.1 Background and significant of the project 1.4 Rubber Industry in China 2.2.1 Industry and rubber products 2.1.4 Brand of our company 1.1.2 Vision of our organization 2.5 Marketing Expend Budget 31 32 32 36 44 49 49 49 51 53 53 54 54 60 62 73 .3 Rubber Industry in Thailand 2.1.

5 Production cost 4.4 Land Tax 4.5.3 Payback period 5.7 Administration cost 4.5.2 Building 4.1.3 Fees for the establishment of the factory 4.5 Tax labels (per 500 square centimeters) 4.Table of Contents v Chapter 4 Technical Operation Feasibility Study 4.5.7.8 Depreciation 4.2 Cost of good 4.4.3 Balance Sheet 5.1 Organizational structure 4.1 NPV (net present value) 5.3.9 Conclusion 78 79 79 83 86 87 89 89 91 92 92 93 94 94 95 95 95 96 98 100 107 107 109 111 117 117 118 118 129 139 Chapter 5 Financial Analysis 5.1 Financial Statement 5.4.2 Income statement 5.1.4.1 Rubber Smoked Sheets (RSS) 4.1.1.1 Logistic Management 4.4 Break-event point 141 142 142 147 150 155 159 160 161 161 161 162 163 .3.3 Total Logistic 4.6 Logistics and Transportation cost 4.4.4 Preopening cost 4.5.1.3.1.3.1.4.3 Administration Zone 4.2 IRR 5.1.2 Inventory management 4. 4.1 Product Characteristic 4.3 Features and Dimension 4.2 Prepare to be company limited 4.4.6 Total Sale 5.4 Cash Flow Statements 5.6.2 Investment Criteria 5.2 Administration Expense 4.6.7 Total Cost of Pre Opening Cost 4.6.4 Operating investment cost 4.2 Block Rubber 4.4.3 Pricing product 4.7.5.6 Trademark registration fee.5 Loan 5.1 Total requirement and the source fund 5.7.1 Cost of request Electric and Water 4.5 Operating investment cost /Operating expense 4.1 Land 4.

2 Economic Factor 6.1 Political Factor 6.2 External Analysis 6.1.2.2.1.1.1.1 Human resource 6.3 Changing operating environment 6.1 Internal Analysis 6.2 The limits of the employee 6.2.4 Health and Safety 6.3 Technological Factor 164 165 165 166 166 166 167 167 167 170 Chapter 7 Conclusion 173 Reference Appendix .vii Table of Contents Chapter 6 Risk Management 6.

although we have the many risk which is the economical risk. Technical Operation Feasibility Study.353 million tons in 2010.. to study in subject of Project Feasibility study and Evaluation 2010.1 percent are expected for 2010 and 2011. Risk Management and Final Summary. The Purpose of this project is to explain how to make the business plan of Thai-North Rubber Industry Company Limited to be feasibility for study and evaluation. Thai-North Rubber has a strong in the financial status that also represent in the ratio analysis.show the positive growth rates in world rubber consumption of 8. has and will be increasingly dominated by Asian countries. Today Thailand has rubber plantation area by about 15 million hectares of rubber growing areas to support the demand that increasing. Thailand's largest rubber exports to China. Said that rubber is one of the crops that are important to the economy of Thailand. the number increasing in demand of rubber from 2007 there are 2.com. it can be acceptable because we also cope with this risk from using the risk management.Exclusive summary Rubber Industry is an issue of Business concern to most Asia. According to rubberword.8 percent and 5. Increase 10% within 4 years. . Mae Fah Luang University. Financial Analysis. In China. Market Feasibility Study. And the total combined NR and SR consumption and production. in term of processing rubber industry. Rubber Research Institute of Thailand. Lee La Wa Dee group saw this opportunity and we establish Thai-North Rubber Industry co. Our group we study and evaluated this project start with Introduction. operating risk and etc.754 million tons to be 3. political risk. respectively. ltd. and has been in the public conversation nearly every day for years. most with 54 % of the export value of rubber.. Industry Profile.

P age |1 Chapter 1 Introduction .

1. Although with some privates to processing rubber are only a few cases to invest. Chiang Rai is a possible for our business to make high profit and easy to growth in the North of Thailand. You will see why we do this project from this chapter. (Source: http://www. Chiang Khong . objective. For the Northern of Thailand especially in Chiang Rai. Luang Namtha and Lao PDR .aspx?NewsID=9530000131252 ) .manager. the total of rubber plantation with 18 districts in Chiang Rai up to 347. and Trang. Chiang Rai also has the ability to export to South of China via R3A Road.Huai Sai. And now.co.Yun Nan province distance just only 250 km and office of the Rubber Replanting Aid Fund is planning to set additional offices at the port’s Chiang Khong to facilitate for export rubber to the South of China.Overview of Project Feasibility P age |2 This chapter explains about overall of project. Bo Kaew Kwang. Nakhon Si Thammarat.th/Local/ViewNews. we decide to take this advantage of rubber in Chiang Rai to study the feasibility of this project. For the market is not worry because in Thailand is most focusing and government support on exports to China reached 39%. There are background and significant.1 Background and significant of the project Our project is a rubber industry which has processing rubber which Rubber Smoked Sheet (RSS) and Block Rubber to respond the higher demand in market.857 rai and are likely to increase much more. Rubber plantation is just the beginning and trends to increased as well. the number of rubber plantations growing a huge leap. and brand of our company. Surat Thani. Chiang Rai has rubber-largest cities deputy from Songkhla. Chiang Rai doesn’t have enough of factory to processing plant and we believe that it has both a large source of latex and the major export. activity and timework. benefit. That is why.

1. 1.2 To study operation and the distribution channel of Rubber industry for export products to China.3 Get experience from doing this project (management strategies.1 Know more about the market of Rubber industry business in Thailand. Thailand.3.2 Know more about consumer behavior of Rubber industry in China.2 Objective 1. 1.2.5 To study the feasibility of investment Rubber industry business in Thailand. 1.3 Benefits of this Study 1. . team work.3 To study about consumer behavior of Rubber industry in China.3.4 Can be applied to real investment.3.4To education approaches and management strategies of Rubber industry business.2.5 Know more about operation and distribution channel of Rubber industry for export products to China.2. 1.2.1 To enhance knowledge and understanding about analyzing the market feasibility of Rubber industry in Chiang Rai province.P age |3 1. 1.2. 1.3. 1. solving problem.3. etc) 1.

STP Marketing mix strategy Sale forecast Marketing expense Technical Feasibility study Finance statement Finance analysis Risk analysis Summary all of them Prepare draft final report Prepare final report Prepare group presentation 17-23/2/2011 9-15/12/2011 30-5/1/2011 27-2/2/2011 2-8/12/2011 6-12/1/2011 3-9/2/2011 .P age |4 1.2 Logo is Logo of Thai-North Rubber Company 1.4.4.1 Our company name is “Thai-North Rubber” 1.4 Brand of our company 1.5 Activities and Gantt chart EXHIBIT 1-1 Activities and Gantt chart 16-22/12/2011 23-29/12/2011 18-24/12/2011 25-1/12/2011 13-19/1/2011 20-26/1/2011 10-16/2/2011 Activities Prepare for topic submission Introduction path Nature of industry Situation of industry Summary of market value Marketing analysis PEST.3C.

P age |5 Chapter 2 Industry Profile .

Thailand has rubber plantation area by about 15 million hectares of rubber growing areas of southern most Followed by the East Central region included. Singapore and Java and the year after in Malaysia.hevea brasiliensis . Common name in English: Para rubber.22. Northeast and North have a total of 60 provinces. 4001. Scientific name: Hevea Braslilensis.495 million baht and wood products worth 55. 4001.10. Consists of the export value of raw materials are 58. .is originating from Brazil. seedlings of hevea were shipped to India.21. rubber is high of economic value with 162. the latex is collected from a diagonal incision in the tree trunk i.0000 technically specified natural rubber (TSNR). Ceylon. value of rubber products 48. Family name: EUPHORBICEAE. On the other hand. the production in Thailand. Today.703 million baht.0000 Natural rubber latex.955 million Baht. This action does not affect the health of the tree and the tree wound later heals itself.1.e. It was exploited in the wild state there till the beginning of the XXth century.1 History of rubber in Europe Where does rubber come from? The hevea tree . the hévéaculture developed from the end of the XIXth century in Southeast Asia: in 1876.0000 Smoked sheets.Industry Profile P age |6 2.29. A province the most rubber growing areas is Surat Thani. Rubber is one of the crops that are important to the economy of Thailand for long time.0000 other. Code HS (Harmonized System): 4001. In 2001 November. 4001. Indonesia and Malaysia represents about 70 % of the world production of natural rubber. 2.1 Nature of Industry Name: A rubber.757 million baht.Today. When a tree matures at the age of 6 or 7 years. the tapping process.

During the hot summer. From this early use. What were first rubber applications in Europe? The first rubber applications date from the end of the XVIIIth century and were mainly erasers and medical probes. Mayas.g. best known for his discovery of oxygen. noted that pencil marks could be "rubbed out" by the substance. In spite of the enthusiasm of the authors for the extraordinary properties of the rubber.P age |7 Who were the first users of rubber? The Indians of Central and South America (Incas. Olmecs. When was rubber first imported into Europe? The first scientific study on rubber was realized by the French academician Charles de la Condamine in the XVIIIth century within the framework of a mission on the South American continent and by François Fresneau. Indians also found the incredible propriety of waterproofing and used it for their clothes and shoes. etc) are known to have used the unique properties of rubber for religious or magical ceremonies e. numerous figurines and balls made from rubber moulded were found in the heart of the sacred wells. The first full bandages appeared in 1834. rubber was sticky and malleable. the rubber was used to waterproof some textiles. At the end of XVth century.In England during the XVIIIth century. rubber derived its name. engineer in Cayenne. Joseph Priestley. Christopher Columbus was certainly the first European assisting to the famous Aztec game with rubber balls representing the Sun. and the first tyres not before the end of the XIXth century. most important Aztec god. while it became hard and brittle in . Aztecs. Then. they will not succeed in interesting their contemporaries in the use of this “new” substance What are the origins of the French and English terms? The French rubber term comes from the Indian " ca-o-tchu " word or " wood which cries ". Why 1839 is an essential date for rubber manufacturing? Prior to 1839. the properties of rubber were dictated by the surrounding temperature.

World demand for rubber has a lot of hands-stall. Colombia and Panama. This phenomenon was further called: “vulcanisation” in reference of the Roman god of fire and metallurgy. A 1839 winter evening. including tyres. that period. it has no idea if the world (meaning Europe) still has to rely on rubber that comes from various sources them alone.etrma. Assistant Secretary-General regularly Governor Annual India Efforts to bring rubber planting in Asia for the first time it happened. partly during the time before. 2443 (1900) is mostly a rubber plantation in South American countries are Brazil. When it was removed. No one knows that much rubber. it always returned to its original shape.asp ) 2. Goodyear dropped accidentally a mixture of rubber. Rubber start is important to human life and more.2414 (1871) has led to painting from Sir Joseph Yang Hung markers see.1. and many other products. This was finally remedied by the unexpected discovery of the process of vulcanisation. In the future. overshoes. mostly.2 History of rubber in Asian Manufacture of rubber in the world the past year. There are also rubber from Russia and Africa.org/public/activitiesrubberh. While Tire situation in countries America quite badly with the world due to the .P age |8 the winter. it became possible to use rubber in raincoats. C. white lead and sulphur upon a hot stove. may be caused by a shortage of rubber are likely to find that New in other parts of the world to remove the tires planted sometime in the year 2398 (1855) brings this idea to consult Sir Joseph Hung markers. What looks like rubber or even how the tires came from the leaf until BE 0. you have an interest in planting more rubber has consulted with Sir Cliean Siemens Markham House. but did not receive much attention should the Europeans. Despite stretching. (Source: http://www. Thanks to this discovery. the material was no longer affected by temperature.

"Phraya Ratsadanupraditmahitsornprakdee" is the same one “Father of rubber" is the leader to bring the rubber tree at Amphor Kantrang. Disperse in the South East and Northeast. . There are set up more responsibility in the research. and found the best varieties of rubber tires or rubber. Then Phraya Ratsadanupraditmahitsornprakdee was sent to learn how to teach people to plant rubber. Rubber growers in Colombia and Panama are hard rubber tapping exert finally rubber in that country has been hurt a lot and killed and no rubber left on the bar again Sir Clean Siemens. development and technology transfer.Which has expanded the rubber from 22 tree species to in the country of Asia.th/Para1. The weather. Finally.co. soil and terrain conditions. Promote to the people planting.htm) 2. Rubber is grown widely in the colonial territories of Britain and Holland are also mostly German rubber is grown on some of Africa and some rubber in Russia because rubber is growing very popular in Asia. Has rubber been planted in the territories. May be due to Asia has the right elements to grow. (Source: http://www. A British colony.3 History of rubber in Thailand Since that is also called "Siam" Estimated after the 1882. Hevea Brasiliensis species so since the year 2425 (1882) is a rubber. Trang province is the first. He was ordered and tires to the species distribution.P age |9 high demand of rubber. Including funding assistance instead planted with rubber. Since Chumporn province was border province. Which is a growing source of new and industrial rubber country? Thailand is a manufacturer and exporter of rubber most of the world. Students who are all sent to a district Chief Officer.reothai. Grow extensively in the Cape Malays in the very early stages. including rainfall labor readily available. Which at that time the people bring to plant and have expanding the rubber plant area into the south in 14 province. In Year 1899.1. he found that Peninsular territory is where the rubber will grow best. village headman. Combine with agricultural and commercial properties of the rubber itself as. Every time the government has focused on the development of rubber has always been. Thailand has a planted area of rubber and the country about 12 million rai. Rubber was used to test varieties grown in India for the first time but without success. sub district headman.

During the 1970s and 1980s.1. By 2004. however.ehow. increasing demand for rubber tires led to China's "Rubber Boom. Into the 21st Century Since 1990. China's economy was ranked second worldwide in 2010. with the popularization of bicycles and the emerging automobile industry. (Source: http://www.html ) Read more: History of the Rubber Manufacturing Industry in China | eHow. China's rubber industry boomed. For the next several decades.com/facts_6920005_history-rubber-manufacturing-industrychina.4 History of rubber in China For over a century. In spite of ups and downs over the last hundred years. China was the largest producer of shoes and a leading exporter of tires. the Great Depression caused the global economy to stagnate. foreign investment and relaxed industrial restrictions allowed the economy to grow rapidly. China's economy struggled as the country faced civil war. China is currently one of the world's leading rubber distributors.ehow. marking the beginning of the rubber industry in China. rubber production has been one of China's most profitable industries. The rubber industry was on its way to thriving once again. and is expected to rise to first place by 2030. The Rubber Boom In the early 1900s. producing over 50. as its rubber industry continues to thrive. industry reform. rubber consumption has risen steadily.com/facts_6920005_history-rubber-manufacturing-industrychina. famine and unstable government. (Ref 1 section 3 paragraph 2 and 3) By 1910. a new process for rubber extraction in China allowed for a higher yield over an extended time.com http://www.P a g e | 10 2.000 rubber products.html#ixzz179k8k7AY ." A Struggling Economy In the 1930s. domestically and abroad.

1987). from roughly 1910 on. By the middle of the eighteenth century. sheets. 1983. from the late 1700s through 1900.” however. Initially the problem of natural rubber was its sensitivity to temperature changes. The boom would then be accentuated after 1900 by the development of the automobile industry and the expansion of the tire industry to produce car tires (Weinstein.1. was centered in Brazil. the first period of rubber’s commercial history. which modified rubber so that it would support extreme temperatures. and other products. which grew predominantly in the Brazilian Amazon (but also in the Amazonian regions of Bolivia and Peru). low wages.1 Rubber Industry in the World 2. Dean 1987). What initially caused the beginning of the “Rubber Boom.2. The best source of latex. by geographical accident. was the popularization of the bicycle. and very high prices. the period following 1910 was one of rapidly increasing production. Uses of Rubber The early uses of the material were quite limited. It was then that natural rubber became suitable for producing hoses. the second period. was hevea brasiliensis. the milky flui1d from which natural rubber products were made.P a g e | 11 2. high wages. tires. shoe soles. rubber was used to make waterproof shoes (Dean. The first century of rubber was typified by relatively low levels of production. . In the early nineteenth century. industrial bands.1 Overview of the Rubber Market. Europeans had begun to experiment with rubber as a waterproofing agent. shoes. 1870-1930 Natural rubber was first used by the indigenous peoples of the Amazon basin for a variety of purposes. and falling prices. was increasingly centered in East Asia as the result of plantation development.2. which altered its shape and consistency.2 Situation of Industry 2. In 1839 Charles Goodyear improved the process called vulcanization. Thus.

rubber was in the hands of mainly Brazilian.P a g e | 12 Exporting Rubber From the ports. rather than selling it to a exporter in the Amazon (Shelley. to ports in Europe and the US to be distributed to the industries that bought large amounts of the product in the London or New York commodities exchanges. Brazilian producers or local merchants from the interior could choose whether to send the rubber on consignment to a New York commission house. Contrary to what Weinstein (1983) argued. A large part of rubber produced was traded at these exchanges. British and American exporters. like other commodities. Rubber was taken. Figure 2-1 Production and Prices 1900-1935 . but tire manufacturers and other large consumers also made direct purchases from the distributors in the country of origin. 1918).

the volume of rubber demanded by car tire manufacturers expanded dramatically. and especially after 1910. at the same time. during this period. rubber was increasingly produced on low-cost plantations in Southeast Asia. First. in terms of both supply and demand. Uncertainty. it was associated with high costs of production and high prices for final goods. prior to 1910. most rubber was produced. 1900-1930 Figure 2-3 Rubber production and imports. The price of rubber fell with plantation development and. After 1900.P a g e | 13 Figure 2-2 World Rubber Production and Consumption. 1870-1899 Conclusion The natural rubber trade underwent several radical transformations over the period 1870 to 1930. by tapping rubber trees in the Amazon region of Brazil. .

respectively. positive growth rates in world rubber consumption of 8.rubber.e.P a g e | 14 (often driven by changing tire technology) meant that natural rubber producers and tire manufacturers both experienced great volatility in returns.1.0 percent.1 percent and 0.2 Natural Rubber Supply And Demand Forecast and Price Outlook The Rubber Economist Ltd. NR output is expected to continue to increase by an average of 1. the average annual growth rate for 20092011 will only reach 1. The relatively lower price of NR when compared with SR helped to increase NR shares last year and is expected to do so again this year before the trend reverses in 2010 and 2011. The overall evolution of the natural rubber trade and the related tire manufacture industry was toward large volume. lowcost production in an internationally competitive environment marked by commodity price volatility and declining levels of profit as the industry matured.04 million metric tons in 2007. which is lower than that of 23. and much of the growth will mainly be in Asia/Pacific.international.2 percent by 2011 as compared to 56.97 million metric tons in 2011.. However. (Source: http://eh.3 percent in 2008.6 percent. may be a lot lower than during recent years. Consumption of natural rubber (NR) is expected to show a sharper increase than for synthetic rubber (SR). however. an annual growth rate of 1. expects that the trough of total world rubber consumption may not hit bottom until the end of 2009. the sharp decline globally depends significantly on the performance of China. The increasing SR shares in Europe will balance out the decline in North America. particularly in major producing countries. will be even worse than last year and the worst since 1942. which is forecast at -9.8 percent and 5.9 percent. respectively. A fall off in 2009 is expected for most countries. Despite a return of a sharp growth rate. Hence the world percentage of SR is forecast to decline only marginally to 56. The growth rate.1 percent over the next three year period. This means rubber consumption may only rise to 22.net/encyclopedia/article/frank. which is expected to show a recovery in the second half of this year to show a positive growth by the end of the year. leaving the world share relatively stable.1 percent are expected for 2010 and 2011.market) 2. Rubber forecasts have been scaled down steadily since the second half of last year.2. This means the decline this year. The continued increase . Despite a slowdown in demand. i. However. the relatively fast increase in production in Indonesia means it will move to a closer position to overtake Thailand as the number one producing country.

rubber consumption declined in 2008 and is expected to fall further this year. NR prices may increase during 2009-2011. The continued increase in rubber output in China means it may overtake Thailand as the largest rubber.S. but not so sharply. Asian countries comprised 7 of the 10 largest rubber economies. SR output is forecast to show a marginal decline by only -0. after six years of growth. Hence.e. a return to the level reached in 2000. the USA and Thailand. In 2008.. NR output is expected to continue to increase. Unlike NR. dollar can influence both consumers and producers. Despite a slowdown in demand. i.S. will leave only a slight increase for the following three year period. The important assumption is that the exchange rate of US$ to SDR will gradually weaken during this period. So far in 2009. Furthermore. has and will be increasingly dominated by Asian countries. NR plus SR. SR stocks have and will continue to rise steadily. there may be an increase of SR output in Asia in relation to other regions. Despite the rising stocks both in absolute terms and relative to consumption. In conclusion. In general.S.P a g e | 15 in production in India will also mean it may overtake Malaysia to become the third largest NR producer by 2011. US$ has been fluctuating around a gradual depreciation trend. whereas previously it had been appreciating sharply against many currencies.2 percent/year. Furthermore. by 2011 Indonesia will overtake Japan for fourth place behind China. growth may only reach 1 percent a year. NR prices rose to a record . The steady rise in rubber prices since 2002 has resulted in an increase in new planting during this period in many smaller producing countries. This is in contrast to the global consumption to stock ratio for NR. dollar weakened in July. Despite weaker prices than the first half of 2008. This certainly is true for NR. many smaller producing countries may find the price levels profitable enough with their lower cost of production. Compared to NR. a weaker U. which is expected to increase from less than three months to four months. but show a gradual rise from the trough reached last December. Our forecasts indicate that the SR stocks to consumption ratio. the total combined NR and SR consumption and production. A sharp slowdown in demand in relation to supply means NR stocks may continue to increase during the next few years. SR suppliers can simply turn off the tap as demand slows and hence there will be a gradual rise in stocks. dollar results in higher commodity prices and vice versa. which may increase relatively sharply in 2009 before a fall. hence prices have been relatively stable. and in particular in 2008 when the U. supplier. The world rubber economy. allowing them some flexibility. The change in the value of the U. Even though a rise is expected in 2010 and 2011. Despite declining sharply in the second half. many SR consumers are also producers. which have lower price elasticity than the major producing countries.

(Source: http://www.2.4 million metric tons in 1998. Figure 2-4 Rubber production – U.S. according to the International Institute for Synthetic Rubber Producers (IISRP).2. Imports from Asia So urce: Trade Stats Express.2 million metric tons.2.8 percent. Asia continued to experience the aftermath of the economic crisis that hit in 1997.P a g e | 16 high in 2008.4 percent in 1998 after 3 consecutive years of gains.rubberworld.2 Rubber Industry in Asia 2.asp?id=287) 2. China experienced a decrease in consumption of 0. dollar is weakened. In the aftermath of the Asian financial crisis and as a result of sluggish demand in the automotive sector. In 1998. Rising stocks will have a negative impact on NR prices. world synthetic rubber consumption remained flat at best and by some industry estimates decreased 1.3 percent to 3. a substantial drop for a country that has consistently enjoyed growth between 7 and 10 percent.1 Rubber trends Worldwide synthetic rubber consumption reached 10.com/RWmarket_report. 2008 . but they may not decline as much if the U. Asia decreased synthetic rubber consumption 8.S.

SBR consumption remained stable at 0. of synthetic rubber are expected to remain relatively flat in 1999 due to the recovering state of Asian and Latin American economies. exports over imports will persist through 2000. according to data released by the IISRP.2 percent. the world experienced a relatively higher increase in the consumption of synthetic rubber. Most Asian producers. China’s production declined 2 percent to 589 kt after 8. Only Taiwan weathered the Asian storm with an increase in production.1 million metric tons in 1998. world synthetic rubber output fell by nearly 2 percent to 9.5 million metric tons. resulting in declining stocks in the second half of 1998. experienced declines in production in 1998. and India’s plummeted 12 percent to 66 kt in that period.9 million metric tons in 1998 after 3 consecutive years of growth. up 5 percent to 428 kt in 1998. still suffering from the 1997 financial crisis and overcapacity in that region.com/Rubber_Marketing_Research_-_Asia) . Slower growth for U. (Source: http://researchwikis.8 percent. and Latin America. particularly if Asian markets fail to grow faster than capacity. dropping to(NBR) consumption remained relatively flat at 320 kt.4 percent to 1. Acrylonitrile butadiene 0. BR consumption was down 3.4 percent growth in 1997–1998. China. growing 3. both ethylene-propylene copolymer (EPM) and ethylene-propylene terpolymer (EPDM)] experienced the largest consumption increases.3 million metric tons. Korea’s dropped 2 percent to 530 kt.2 percent to reach 814 kt. reaching a level of 3. According to data collected by the International Rubber Study Group (IRSG). Japan’s production declined 4 percent in 1998 to 1. Asia’s capacity has continued to grow.9 million metric tons. ethylene propylene rubber [EPR.S.S. tempered with unexpected pockets of demand in places like Korea and Venezuela.P a g e | 17 With regard to growth by elastomeric type in 1998. Exports from the U. mainly because of significant decreases in Asia and Oceania. During that period. or 3.

Investment per tapper in Brazil was reportedly 337 pounds sterling circa 1910. When the British did attempt to restrict production in the 1920s. Labor-Intensive In Asia. they were potentially eighty percent more productive (Dean.3.2.2. the British and Dutch drew upon their superior stocks of capital and vast pools of cheap colonial labor to transform rubber collection into a low-cost.1 Growing Rubber Trees in Thailand Rubber trees grow best on flat low land. the new plantation system proved equally susceptible to uncertainty and competition. Such an expensive solution made no economic sense in the 1910s and 20s when coffee and nascent industrialization in São Paulo offered much more promising prospects. these areas. 1987). in the low-cost Asian plantations. Not only were Southeast Asian tappers cheaper. labor-intensive industry. investment was estimated at just 210 pounds per worker (Dean. the British and Dutch were unable to collude to control production and prices plummeted after 1910. the game was no longer worth the candle: in order to compete in rubber production.2.3 Rubber Industry in Thailand 2. would have been mostly rainforest. The dramatic change has meant that Thailand’s forests have been swapped for cash. Unexpected sources of uncertainty arose in the technological development of automobile tires. Fifty years ago. the United States attempted to set up plantations in Brazil and the Dutch were happy to take market share. 2. with rubber tree plantations now prevalent in Thailand. In spite of colonialism. 60% of Thailand was covered with forests.2 Alternative Southeast Asian Plantations Develop a Low-Cost. In a sense. then. .P a g e | 18 2. Brazil would have to have had significantly lower wages -. Yet it was too late for Brazil: the cost structure of Southeast Asian plantations could not be matched.which would only have been possible with a vastly expanded transport network and domestic agriculture sector in the hinterland of the Amazon basin. if left uncultivated. 1987).2. now it is less than 20%. Ironically.

In 2006 alone. Tropical rainforests in Thailand offer great value in the area of tourism. it would work out as many millions of dollars every year. where obviously rubber plantations offer no interest to visiting foreign tourists. Ecotourism is the fastest-growing tourism sector in Thailand. but putting a value on rainforest is more difficult. over 3 million tons of natural rubber was sourced from Thailand. Until they are totally depleted and that crop can no longer be grown until. and destroying rainforest to make way for rubber production produces little reward.3. . Probably significantly more than is produced from the sale of products produced from the rubber plantations. soil erosion can often wipe out the life-giving topsoil.2. Land that is used for rubber cultivation quickly suffers a rapid decline in the fertility of the soil. If you were to calculate the value of the rainforest to tourism in Thailand. but before they can be planted. rather than life-giving rainforests. This climate helps Thailand’s rubber farmers achieve high yields roughly 1. After areas are cleared of forest ready for planting of rubber trees. which is highly conducive to rubber tree cultivation.2% per annum between 2007 and 2009. 2.76 tons of rubber per hectare – and has allowed Thailand to lead the world in natural rubber production since 1991. Never the less modern day culture seems to put a higher value on material items. In a village named Kireewong.P a g e | 19 Putting a value on a rubber plantation is easy. landslides caused by a tropical downpour killed over 300 people and devastated the town of Nakhorn Si Thammara. These already sizeable production levels are projected to increase 2. This is because growing one crop removes the same nutrients again and again from the earth. Compared to the huge amount of tourist dollars flowing in Thailand every year from people who wish to visit the natural wonders the Thais have to offer their visitors. In some extreme cases lives have been lost. Simply because there were no trees to hold the ground together to prevent the landslides. as happened at a site that had been cleared for rubber trees in Thailand in 1988. the nutrients are replaced.2 Thailand: World Supplier of Natural Rubber The southern part of Thailand has a monsoon climate.

The top five recipients of Thailand’s rubber products. Major opportunities for investment exist in the production of value-added rubber products. The proximity of its production sites to its destination sites allows for the ‘just-intime’ delivery essential for complex rubber products. the United States. and South Korea. Over 2. nearly 90% of Thailand’s natural rubber production is for export.771. 65% is processed into value-added goods. and elastic (8-9%). Rubber wood.P a g e | 20 In fact. Thailand is optimally located to supply the natural rubber demands of the Asia Pacific region. which accounted for 54% of the total rubber consumption in 2006.673 tons. Of this portion. of natural rubber was exported in 2006. many of which are used by the growing domestic automotive industry. airplanes.9% between 2007 and 2009. a renewable resource that presents an attractive alternative to hardwoods timber. This rise in demand will predominantly originate in the Asia and Pacific region. in terms of export values for 2006. is an increasingly important product in the domestic market as this market raises its environmental awareness. Japan. gloves (13-15%). is expected to experience an annual growth of demand for rubber of 5. cars and bicycles (46-51%). the International Rubber Study Group (IRSG) has forecast a 4. such as tires and tubes for motorcycles. Ten percent of all the rubber produced in Thailand is used for domestic consumption.4% annual growth rate for global rubber consumption for the period of 2007 to 2009. This region. The following products present strong investment opportunities:         Tires and tubes for automobile Piping and tubing tires Gaskets / Seals Gloves Elastic Hoses Condoms Furniture from rubber wood .41 billion. or an estimated US$5. rubber bands (8-10%). Furthermore. were: China. Malaysia.

 Research and development: Thailand has higher R&D spending than either Malaysia or Indonesia.P a g e | 21 Another growth market is the developing market and cultivation for organic rubber. Since its introduction in Thailand during the early 1900s. more than 2.3.  Availability of workforce: Thailand’s labor is cost-effective relative to that of Malaysia and Indonesia. By 2009. Solid transportation and communications infrastructure combine to promote ease of export. Thailand is home to a wealth of highly skilled personnel. ASEAN countries. It is required in the manufacture of many industrial and consumer products. The first experimental planting area was located in Trang Province at the southern part of Thailand.  Free Trade Agreements: Thailand has already negotiated reduced tariffs on rubber products with China. and New Zealand. and graduates 80. condoms and gloves. Location in a high demand region: The Asia and Pacific region has the highest rubber consumption growth rate. from hoses and vehicle tires to belts. In addition to being the leading exporter and processor of high-quality rubber.72 million hectares were being cultivated throughout the country.3 Thailand: World’s Top Supplier of Natural Rubber Rubber is an indispensable resource. enhancing its competitiveness. . 2. Why Thailand?   Abundant resources: Thailand is the largest producer of natural rubber. but quality is never sacrificed to quantity. Thailand is also a top R&D center for the material. Australia. The goal through 2012 is for the Thai rubber industry to develop sophisticated technology and generate added value.  Enhanced Infrastructure: Thailand has ample water supply and low incidence of power outages to insure the availability of the resources essential to manufacturing ventures. There is a growing demand for organic rubber and Thailand is already a leader in the development of sustainable and environmentally sustainable methods for rubber processing.000 science and engineering students annually.2. the country has grown to become the world’s largest producer and exporter of natural rubber.

76 tons of rubber per hectare – and has allowed Thailand to lead the world in natural rubber production since 1991.1 million tons of natural rubber was produced in the country. dominate the rubber plantation landscape. In2009 alone. 90% of which are located in southern Thailand. 2. . Malaysia. nearly 3. This helps Thai rubber farmers achieve high yields – roughly 1.3. More than 2.6 billion in 2012. the country’s rubber product exports could reach US$6. According to projections by the Office of Industrial Economics.4 Lively Export Sector Nearly 90% of Thailand’s natural rubber production is for export. Japan.7 million tons or US$4. holding 95% of the planting area. which is highly conducive to rubber tree cultivation. However.26 billion worth of natural rubber was exported in 2009. The already sizeable production yield is projected to increase at least 2% per annum.P a g e | 22 Figure 2-5 World’s Top 5 Produces of Natural Rubber in 2009 (Source: Thai Rubber Association) The southern part of Thailand has a monsoon climate. the rubber sector itself is controlled by large processing plants that purchase the material via local dealers. Small landholders. The top five destinations for Thailand’s rubber products in terms of export value that year were China. the European Union and the United States.2.

P a g e | 23 Figure 2-6 Thailand’s Natural Rubber Export Market 2009 (Source: Rubber Research Institute of Thailand) 2. Growth is being fueled largely by rising demand in the Asia-Pacific region. cars and bicycles (46-51%).6 Value-Added Rubber Products Ten percent of all rubber produced in Thailand is used in domestic consumption. 2. airplanes.1% and 5.3.2. The proximity of the country’s production sites to regional markets allows for the just-in-time delivery essential for complex rubber products. is an increasingly important product in the domestic market amid greater environmental awareness.5 Thailand: Strategic High-Demand Region The International Rubber Study Group has forecast 5. Rubber wood. 65% is processed into value-added goods such as tires and tubes for motorcycles. Thailand is optimally located to supply the Asia-Pacific’s natural rubber requirement. respectively.3.8% growth for global rubber consumption in 2010 and 2011. Of this portion. rubber bands (8-10%) and elastic (89%).3. gloves (13-15%). . a renewable resource that presents an attractive alternative to hardwood timber.

Ltd. trade associations and R&D institutions are actively promoting the growth and competitiveness of the rubber industry. Supporters include:      Rubber Research Institute of Thailand National Science and Technology Development Agency National Metal and Materials Research Center (MTEC) National Center for Genetic Engineering and Biotechnology (BIOTEC) Research and Development Institute of Industrial Production Technology..3.  Dunlop Tire (Thailand) Co.3. opened its factory with a new production system. Thai-Bridgestone. has invested US$25 million in its radicalization project to raise the plant’s daily production capacity for airplane tires from 130 to 160 units and for automobile tires from 4. Ansell 2.3. Already.. Ltd. 2.3.3.8 Thailand’s Growing Tire Industry  Thai Bridgestone Co.3.9 Supporting Organizations  Thailand’s government. Ltd.P a g e | 24 2. expansion of production capacity is in the works. in February 2010 hosted the opening ceremony of its newly established Bridgestone Retread Center.900 to 7.  Goodyear (Thailand) Public Co.7 Thailand’s Major Rubber Product Companies Tire products: Goodyear. Kasetsart University      Prince of Songkhla University Department of Industrial Promotion Thai-German Institute Rubber Estate Organization Polymer Society (Thailand) .200 units. Michelin-Siam. boasting high investment efficiency and manufacture of high-quality radial tires at the Amata City Industrial Estate in Rayong Province. Dunlop Other rubber products: Top Glove..

6.50 million metric tons of rubber in 2008. Pipe and Belt: 450 thousand metric tons.4 Rubber Industry in China 2.1 Chinese Rubber Industry and Market China consumed a quarter of the rubber in the world. As such. Cycle tire: 420 thousand metric tons. Tire (sans cycle tire): 3. Emulsion: 200 thousand metric tons. increased 10% in 2008.8% of the world’s total consumption (22. Rubber consumption in the Chinese market in 2008 by industries: 1. The consumption keeps increasing due to the booming automotive industry. .50 million metric tons.18 million metric tons).3. accounting for 24.4. Footwear: 400 thousand metric tons. Total: 5.10 Attractive Investment Incentives The Board of Investment has classified the manufacture of natural rubber and rubber wood products as a priority activity.P a g e | 25 2. Others: 180 thousand metric tons.2. 2. the main rubber finished products. projects receive an eight-year corporate income tax holiday and are exempt from import duties on machinery.85 million metric tons. China consumed 5. 3. Driven by the automotive industry.2. 4. 2. China Rubber Industry Chen Nanyang The 2008 consumption increased 6% from the 2007 level mainly due to the booming automotive industry.3. 5. China's output of tires.

Read more at Suite101: China Rubber: Chinese Rubber Industry and Market http://www.9 million metric tons. But 0.4 metric tons of smuggling rubber from Vietnam impacted the market a lot due to the low price. Tire (sans cycle tire): 2. Cycle tire: 120 thousand metric tons. and China National Petroleum Corporation. 5. 6.000 yuan ($1. 2.170) per metric ton in late 2008.suite101. Pipe and Belt: 90 thousand metric tons.16 million metric tons.com/content/chinarubber-a163348#ixzz17L8svrz8) . (Source: http://www.suite101.8% of the world’s total consumption (9. Footwear: 30 thousand metric tons.45 million metric tons).53 million metric tons. Nature rubber consumption in the Chinese market in 2008 by industries: 1. Others: 70 thousand metric tons. National Bureau of Statistics of China.4. The import was around 1. accounting for 26. which went down to 8. Emulsion: 60 thousand metric tons. China’s output of nature rubber reached 600 thousand metric tons in 2008.P a g e | 26 2.2.53 million metric tons of nature rubber. Sources: China Rubber Industry Association. 4. 3.2 China Nature Rubber Industry and Market In 2008 China consumed 2.com/content/china-rubber-a163348 . Total: 2.

Material Raw rubber sheet (Source: http://www.htm ) . RSS4 and RSS5. We can see that the rubber industry is important to the nation with both of employment and exports. and compounds.unctad. Material Composition: Latex RSS (Rubber Smoked Sheet) Description: Our rubber smoked sheet (RSS) is available in standard strengths. Since Thailand is well equipped in terms of the material that is an advantage to competitors.html ) (Source: http://www.org/infocomm/anglais/rubber/technology. It is used as a raw material for industrial production.th/office/import-export/rubber-rss. Thailand is the world first of natural rubber producer and can generate revenue from exports of rubber products in most of the world as well. sizes.ksgroup.3. RSS3. Block Rubber Description: The production of block rubbers involves relatively sophisticated machineries and heavy power consumption.P a g e | 27 2. The basic layout of block rubber production from latex. Thailand will need to accelerate the value creation of a more natural rubber. Smoked sheets are classified into 4 grades varying from RSS2. colors.3 Summary of Market value 2.1 Industry and rubber products.co.

farmkaset.4 million tons. and be recognized as.3. 2.11 percent because of government's policy is support more. And rubber trees in the high yield more. In 2010.aspx?id=1034&content=00262 ) 2. We will develop standards of raw rubber sheets and rubber smoked sheets of now a day to be high quality form level 3 to level 2 and level 1 that will have to acceptable of markets both . Korea. resulting in natural rubber in the world market will tend to increase continuously. And are confident that Thailand also holds a leading manufacturer and exporter of rubber in the world market amid competition is increases.2 Vision of our organization To be. Thailand can export up to 64 per cent per year to China.7 million tons of 2009 or 5. Rubber yields approximately 3. Meanwhile.7 percent from the year 2009.5 percent because China has been importing rubber from Thailand increase especially in the form of the compound.1. the trend of the growth of the tire industry in China.85 million tons up from 2. the leader complex rubber industry in the North of Thailand and group of neighbor country.3 Mission of our organization Thai-North Rubber tries to be the central of rubber industries in Indochina to accommodate the higher amount of rubber including support neighboring countries. Thailand will be use rubber about 0. Japan and the United States and Russia.1. which in the last three years.3. up from 0.22 percent.1 Production In 2010. up 6.5 million hectares of 2009 or 4. Malaysia.P a g e | 28 2.3 tons.37 million tons of year 2009 or 8.org/contents/defaultToLocalDetails.2 Export Thailand is expected to export about 2. Thailand will have more rubber tapping area are about 11. (Source: http://www.3.3.9 million hectares from 11. Malaysia and Vietnam. Because in many areas that can be opened gradually cut rubber tapping more open. The important competitions are Indonesia. Japan. as well as provide best of service for customer. 2. the United States and the EU.

Korea.3. The cost of rubber production in China is quite high.3.4. We chosen the market development to organized the company to export the rubber. the United States and EU. 2 in the world after the United States.3. by buying from local farmers will be use the local price.4. Japan. For rubber trade.P a g e | 29 domestic and international markets especially with China. 2. higher than that produced quite a lot. So we focus on the market to provide the rubber and we would to be the center north of Thailand to be export the rubber for neighbor countries. Malaysia. 2. So we should to concentrated for our competitors like Indonesia and We are the ones who collect the latex yield from the tag to leave the factory to produce our company for processing rubber sheets and rubber pieces. To Compared with another countries including Thailand. and EU.1 Corporate Level According to China’s demand for rubber. In additional any countries like Korea. up to 970. to export the rubber. which is No.4 Strategy 2. So. because we will use Time to send out a very long . And we will management marketing and international contacts to find loyal customers by planning to retain satisfaction by using CRM (customer relationship management) include of grower and farmer. rubber. for exports will be use the overseas market as a futures market and just at time which a criterion. The cost of rubber production in China is quite high. While China can produce about 500. US. Since the current investors in foreign investment into manufacturing base tire vehicles in China in 2543 increased. Because the climate is not suitable The Chinese can only rubber plantation area in the southern provinces only. Japan.000 tons per year. To Coupled with China’s rubber farmers lack the expertise in rubber cultivation.2 Business Level According to the status of our company we would to be the central North of Thailand to export the rubber to the neighbor countries like China. Malaysia.000 tons of rubber per year only makes rubber Chinese imports from abroad reached 470. the Chinese demand for rubber.000 tons / year.

2. In Chiang Rai province so no one company to export business of this type and rubber in the form as required by the market in China is extremely.3 Functional Level We will observe and analyze more sales from countries that we export and less profitable.3. We can assume that the processing and export of rubber. and we will bring the budget from that country to increased investment in the success or profitability of the business country. So.P a g e | 30 time. We will cut the country that we get the less profit or return loss.4. . we had chosen retrenchment strategy to organize our company.

P a g e | 31

Chapter 3

Market Feasibility Study

Industry Profile
3.1 Market Analysis
3.1.1 General Environment Analysis 3.1.1.1 General information of the People's Republic of China (PRC)

P a g e | 32

The People's Republic of China (PRC), 中华人民共和国, commonly known as China, is the most populous state in the world with over 1.3 billion people. Located in East Asia, China is a single-party state governed by the Communist Party of China (CPC). The PRC exercises jurisdiction over 22 provinces, five autonomous regions, four directly administered municipalities (Beijing, Tianjin, Shanghai, and Chongqing), and two highly autonomous special administrative regions (SARs) – Hong Kong and Macau. Its capital city is Beijing.

3.1.1.2 Geography The PRC is the world's third- or fourth-largest country by total area (depending on the definition of what is included in that total) and the second largest by land area. Its landscape is diverse, with forest steppes and deserts (the Gobi and Taklamakan) in the dry north near Mongolia and Russia's Siberia, and subtropical forests in the wet south close to Vietnam, Laos, and Burma. The terrain in the west is rugged and at high altitude, with the Himalayas and the Tian Shan mountain ranges forming China's natural borders with India and Central Asia. In contrast, mainland China's eastern seaboard is low-lying and has a 14,500-kilometre (9,000 mi) long coastline bounded on the southeast by the South China Sea and on the east by the East China Sea beyond which lie Taiwan, Korea, and Japan.

P a g e | 33

Area Total 9,640,821 km2 [c] or

9,671,018 km²[c](3rd/4th) 3,704,427 sq mi - Water (%) 2.8[d] - China borders 14 nations - Counted clockwise from south: Vietnam, Laos, Burma, India, Bhutan, Nepal, Pakistan, Afghanistan, Tajikistan, Kyrgyzstan, Kazakhstan, Russia, Mongolia and North Korea. - The border between PRC and ROC is located in territorial waters. - China has a land border of 22,117 km(13,743 mi) , The largest in the world.

3.1.1.3 Demographics As of July 2010, there are 1,338,612,968 people in the PRC. About 21% (male 145,461,833; female 128,445,739) are 14 years old or younger, 71% (male 482,439,115; female 455,960,489) are between 15 and 64 years old, and 8% (male 48,562,635; female 53,103,902) are over 65 years old. The population growth rate for 2006 was 0.6%. The PRC officially

recognizes 56 distinct ethnic groups, the largest of which are the Han Chinese, who constitute about 91.9% of Large the total ethnic

population.

minorities include the Zhuang (16 million), (10 million), Miao Hui Manchu (9 million), Uyghur

(8 million),

(7 million), Yi (7 million), Tujia (5.75 million), Mongols (5 million), Tibetans (5 million), Buyei (3 million), and Koreans (2 million).

283 (98th) . Hong Kong.Per capita $4. Between 150 and 200 million migrant workers work parttime in the major cities and return home to the countryside periodically with their earnings.745 trillion (2nd[5]) .4% to 46. Today. Figure 3-1 Major cities in China play key roles in national and regional identity. The country's urbanization rate increased from 17.Total $5.P a g e | 34 In the past decade. and Shanghai.084 trillion (2nd) .518(99th) GDP (nominal) 2010 estimate . a scale unprecedented in human history. China's cities expanded at an average rate of 10% annually.Total $10. culture and economics . including the three global cities of Beijing. GDP 2010 estimate .8% between 1978 and 2009.Per capita $7. the People's Republic of China has dozens of major cities with one million or more long-term residents.

the government advanced its basic education goal by pledging to provide completely free nineyear education. the central budget of the national scholarships will be tripled in two years and 223. are popular among the middle-class families who can afford them. As of 2007.3% of the populations over age 15 are literate. In March 2007. As of 2007.116 secondary schools.5 billion Yuan (28.2% for males and 98.5 Transportation Transportation in the mainland of the People's Republic of China has improved significantly since the late 1990s as part of a government effort to link the entire nation through a series of expressways known as the National Trunk Highway System (NTHS).4 Education In 1986. China announced the decision of making education a national "strategic priority". almost all children in urban areas continue with 3 years of high school. China's youth (age 15 to 24) literacy rate was 98. second only to the United States. often investing large portions of the family's income on education. The total length of expressway is 65. there were 396.1.000 mi) at the end of 2009. including textbooks and fees.380 mi) of service routes. Free compulsory education in China consists of elementary school and middle school. such as in foreign languages or music.567 primary schools.9% (99. China set the long-term goal of providing compulsory nine-year basic education to every child.1. which lasts for 9 years (age 6-15).5% for females) in 2000.000 km (40.236 higher education institutions in the PRC.P a g e | 35 3. Private lessons and recreational activities. 93.050 km (4. 3. 94. Many parents are highly committed to their children's education. In February 2006.65 billion US dollars) of extra funding will be allocated from the central government in the next 5 years to improve the compulsory education in rural areas. and 2.1.1. China has also the world’s longest high-speed rail network with over 7. .

(Source: http://en. and freedom of religion. divided into various railway bureaus in different regions.1. and the National People's Congress has been described as a "rubber stamp" body. North Korea. however the PRC is still far from the liberal democracy practiced in most of Europe or North America. Hong Kong has one of the most developed transport systems in the world. At the rates of demand it experiences.org/wiki/People's_Republic_of_China#Education) 3. and Cuba). but simple characterizations of PRC's political structure since the 1980s are no longer possible. Railways are the vital carrier in China. the system has historically been subject to overcrowding during travel seasons such as Chunyun during the Chinese New Year. Compared to its closed-door policies until the mid-1970s.2 PES Analysis 3. reproductive rights.1. with heavy restrictions remaining in many areas. . The major cities have rapidly expanding networks of underground or light rail systems. the liberalization of the PRC is such that the administrative climate is less restrictive than before.P a g e | 36 Private car ownership is increasing at an annual rate more than 15%. Shanghai has a Maglev rail line connecting its urban area to its main international airport. but remains too expensive for most. most notably on the Internet. but also as authoritarian. they are monopolized by the state. Long distance transportation is dominated by railways and charter bus systems.wikipedia. The PRC government has been variously described as communist and socialist. the press. Numerous cities are also constructing subways. freedom of assembly. Laos.2. Pudong International Airport. and China surpassed the United States became the largest automobile market in the world with total sales of more than 13.1 Political The PRC is regarded by several political scientists as one of the last five Communist states (along with Vietnam. The sale of automobiles had been increasing rapidly after the financial crisis in 2009.6 million Domestic air travel has increased significantly. The PRC's incumbent president is Hu Jintao and its premier is Wen Jiabao.

whose power is enshrined in China's constitution.1 foreign donor for China. To propel the country towards a modern.1. Collectivization of the agriculture was dismantled and farmlands were privatized to increase productivity. The political system is very decentralized with limited democratic processes internal to the party and at local village levels. the CPC wins by default most of the time. referred to in China as democratic parties. Political concerns in the PRC include lessening the growing gap between rich and poor and fighting corruption within the government leadership. which participate in the People's Political Consultative Conference and the National People's Congress.2. Private businesses and capitalism did not exist. Since 1978. and that legislatures have shown some assertiveness from time to time. China's economy is mainly characterized as a market economy based on private property ownership. the People's Republic of China was a Sovietstyle centrally planned economy. the Party retains effective control over government appointments: in the absence of meaningful opposition.P a g e | 37 The country is ruled by the Communist Party of China (CPC). Japan has been No. There are other political parties in the PRC. The level of support to the government action and the management of the nation is among the highest in the world. Mao Zedong instituted the Great Leap Forward. However. Following Mao's death and the end of the Cultural Revolution. Foreign trade was focused upon as a . There have been some moves toward political liberalization. Deng Xiaoping and the new Chinese leadership began to reform the economy and move to a market-oriented mixed economy under one-party rule.2 Economic From its founding in 1949 to late 1978. although these experiments have been marred by corruption. In 1978. industrialized communist society. A wide variety of small-scale enterprises were encouraged while the government relaxed price controls and promoted foreign investment. in that open contested elections are now held at the village and town levels. China and Japan had normalized diplomatic relations and China had decided to borrow money from Japan in soft loans. with 86% of people who express satisfaction with the way things are going in their country and with their nation's economy according to a 2008 Pew Research Center survey 3.

8%. The PRC. an undervalued exchange rate. The latter has been sometimes blamed for the PRC's . Ten years ago.06 trillion Yuan (US$4. and some say. The PRC's success has been primarily due to manufacturing as a low-cost producer. China was the seventh largest country in global wealth and China currently holds $ 16. resulting in massive job losses. favorable government policy.9 million inbound international visitors in 2009.6%. The PRC owns an estimated $1. Inefficient state-owned enterprises (SOEs) were restructured by introducing western-style management system and the unprofitable ones were closed. and 42.05 trillion corresponding to US$6.800 per capita. medium level of technology and skill.700 is still low and puts the PRC behind roughly a hundred countries he primary. secondary. Since economic liberalization began in 1978. 35 percent ahead of the wealthiest European country.99 trillion). which led to the creation of Special Economic Zones (SEZs) first in Shenzhen (near Hong Kong) and then in other Chinese cities.21 trillion – US$1. the PRC's investment. the PRC's economy is second only to the US at US$9. If PPP is taken into account. holding US$801. It is the world's third largest recipient of inward FDI by attracting US$92. It now has the world's second largest nominal GDP at 34.5 billion in Treasury bonds. although its per capita income of US$3.and export-led economy has grown 90 times bigger and is the fastest growing major economy in the world. The PRC is the fourth most visited country in the world with 50. making it by far the world largest. 46.4 trillion. relatively high productivity.P a g e | 38 major vehicle of growth.20 trillion in export and US$1.01 trillion in imports. The inaugural Global Wealth Report by Credit Suisse Research Institute collects data across more than 200 countries in mid-2010 stated China is expected to overtake Japan as the second wealthiest country in the world by 2015 ($35 trillion) on the back of rapid economic growth and strong domestic consumption. It is a member of the WTO and is the world's second largest trading power behind the US with a total international trade of US$2.5trillion. This is attributed to a combination of cheap labor.6 trillion of US securities. good infrastructure.2 billion in 2008 alone becoming the world's sixth largest outward investor. France. is the largest foreign holder of US public debt.6% respectively to the total economy in 2009. and tertiary industries contributed 10. Its foreign exchange reserves have reached US$2.4 billion in 2008 alone. while the country itself increasingly invests abroad with a total outward FDI of US$52.

302 trillion) in 2007 and growing at 16. four of the world's top ten most valuable companies are Chinese. Today. It is also now the world's second biggest consumer of luxury goods behind Japan with 27. Measured using market capitalization. SSE's market capitalization reached US$3 trillion in 2007 and is the world's fifth largest exchange. China now ranks 29th in the Global Competitiveness Index. and Japan – despite the yuan having been de-pegged and risen in value by 20% against the US$ since 2005.000) has now reached more than 100 million. EU.5% of the global share.5 million) is estimated to be 825. 2005) of GDP in 2005. the PRC's rapid growth managed to pull hundreds of millions of its people out of poverty since 1978. Its middle class population (defined as those with annual income of at least US$17. Although a middle income country by the world's standard. about 10% of the Chinese population (down from 64% in 1978) live below the poverty line of US$1 per day (PPP) while life expectancy has dramatically increased to 73 years. 46 Chinese companies made the list in the 2010 Fortune Global 500 (Beijing alone with 30). compared to 20% in 1950. Its stock market in Shanghai (SSE) is raising record amounts of IPOs and its benchmark Shanghai Composite index has doubled since 2005. . Some of these include first-ranked Petro China (world's most valuable oil company). China's retail market is worth RMB 8. The state still dominates in strategic "pillar" industries (such as energy and heavy industries). fifth-ranked China Mobile (world's most valuable telecommunications company) and seventh-ranked China Construction Bank.7 billion in 2007) and has become a major source of dispute between the PRC and its major trading partners – the US.000 according to Huron Report.8% annually. third-ranked Industrial and Commercial Bank of China (world's most valuable bank). while the OECD estimate is over 50% of China's national output.9 trillion (US$1. but private enterprise (30 million private businesses) now accounts for anywhere between 33% (People's Daily 2005) to 70% (Business Week. More than 93% of the population is literate. while the number of super-rich individuals worth more than 10 million Yuan (US$1. up from 1% in 1978. Urban unemployment declined to 4 percent in China by the end of 2007 (true overall unemployment might be higher at around 10%).P a g e | 39 bulging trade surplus (US$262.

Coupled with a lax environmental regulation. which was aimed at improving sanitation and hygiene. the health of the Chinese public improved rapidly because of better nutrition despite the disappearance. Health care in China became largely private fee-for-service. as well as attacking several diseases.Consequently. The country's life expectancy at birth jumped from about 35 years in 1949 to 73. oversees the health needs of the Chinese population. Despite significant improvements in health and the introduction of western style medical facilities. China has several emerging public health problems. The urban-rural income gap is getting wider in the PRC with a Gini coefficient of 46. and central regions of China. along with the People's Communes. the Communist Party started the Patriotic Health Campaign. Malnutrition as of 2002 stood at 12% of the population according to United Nations FAO sources. and scarlet fever were nearly eradicated.P a g e | 40 The PRC's growth has been uneven when comparing different geographic regions and rural and urban areas. An emphasis on public health and preventive medicine characterized health policy since the early 1950s. of much of the free public health services provided in the countryside.18 years in 2008.1.9%. together with its counterparts in the provincial health bureau. and infant mortality went down from 300 per thousand in the 1950s to about 23 per thousand in 2006. this has led to a massive water and air pollution (China has 20 of the world's 30 most polluted cities). The economy is also highly energy-intensive and inefficient – it uses 20%–100% more energy than OECD countries for many industrial processes. At that time. the government has promoted development in the western.2. To counter this. typhoid. It has now become the world's largest energy consumer but relies on coal to supply about 70% of its energy needs. Development has also been mainly concentrated in the eastern coastal regions while the remainders of the country are left behind. the government has promised to use more renewable energy with a target of 10% of total energy use by 2010 and 30% by 2050.3 Public health and Environment The Ministry of Health. northeastern. This has shown major results as diseases like cholera. which include . 3. With economic reform after 1978.

But the environment continues to deteriorate. China started to develop its own nuclear weapons and delivery systems. Some 90% of China's cities suffer from some degree of water pollution.6 billion invested in clean technology in 2009. 3.1. such as the 2003 outbreak of SARS (a pneumonia-like disease) which has since been largely contained. Part of the price China is paying for increased prosperity is damage to the environment.4 Science and Technology After the Sino-Soviet split.000 people per annum from air and water pollution (including indoor air pollution). Estimates of excess deaths in China from environmental pollution (apart from smoking) are placed at 760. China has some relevant environmental regulations: the 1979 Environmental Protection Law. they are frequently disregarded by local communities while seeking economic development. China produces more wind turbines and solar panels each year than any other country. a possible future HIV/AIDS epidemic. successfully detonating its first surface nuclear test in 1964 at Lop Nur. With $34. China's large population and close living quarters has led to some serious disease outbreaks in recent years. and nearly 500 million people lack access to safe drinking water. While the regulations are fairly stringent. According to the Ministry of Water Resources. which was largely modeled on US legislation. to be significant health hazards in China. only one Chinese city was making an effort to clean up its water discharges. In 2007. A . roughly 300 million Chinese are drinking unsafe water. with 400 out of 600 cities short of water. Reports by the World Bank and the New York Times have claimed industrial pollution.2. and an increase in obesity among urban youths. Leading Chinese environmental campaigner Ma Jun has warned that water pollution is one of the most serious threats facing China. particularly of the air. Twelve years after the law. This makes the crisis of water shortages more pressing.P a g e | 41 respiratory problems as a result of widespread air pollution and hundreds of millions of cigarette smokers. China is the world's leading investor in renewable energy technologies. China has overtaken the United States as the world's biggest producer of carbon dioxide.

China has plans to build a space station in the near future and to achieve a lunar landing in the next decade.000 researchers. using a Long March 2F launch vehicle and carrying Chinese astronaut Yang Liwei. There are also plans for a manned mission to planet Mars.3 million in the United States. making it the third country to have the capability to conduct a spacewalk. including renewable energies such as hydro. wind and solar power. China has the world's second largest research and development budget. In 2007. China successfully completed the Shenzhou 7 mission. the first Chinese satellite. China completed its second manned mission with a crew of two. named after the ancient Chinese moon goddess. President Hu Jintao called for China to make the transition from a manufacturing-based economy to an innovation-based one and the National People's Congress has approved large increases in research funding. Stem cell research and gene therapy. China has an estimated 926. The Chinese government continues to place heavy emphasis on research and development by creating greater public awareness of innovation. and have potential applications for the hydrogen economy. In 1992. After four unmanned tests. . In 2008. This made the PRC the fifth nation to independently launch a satellite. making the PRC the third country to put a human being into space through its own endeavors. the Shenzhou manned spaceflight program was authorized. face minimal regulation in China. which culminated in 1970 with the launching of Dong Fang Hong I. and is expected to invest over $136 billion in 2006 after growing more than 20% in 2005. second only to the 1. Shenzhou 5 was launched on 15 October 2003. which run cooler and safer. Shenzhou 6 in October 2005. semiconductor and energy industries.P a g e | 42 natural outgrowth of this was a satellite launching program. the PRC successfully sent the Chang'e spacecraft. which some in the Western world see as controversial. In 2006. to orbit and explore the moon as part of their Chinese Lunar Exploration Program. China is also actively developing its software. and reforming financial and tax systems to promote growth in cutting-edge industries. China has been pioneering the deployment of pebble bed nuclear reactors. In an effort to reduce pollution from coal-burning power plants.

a number of New Confucians have advocated that democratic ideals and human rights are quite compatible with traditional Confucian "Asian values. such as the individualistic Song Dynasty neo-Confucians. They further argue that many important aspects of traditional Chinese morals and culture. such as Confucianism. They sought to change some traditional aspects of Chinese culture. while preserving others. The system is expected to process seismic data for oil exploration. such as the belief that calligraphy and literati painting were higher forms of art than dancing or drama. such as rural land tenure. while others say that the CPC's rule has damaged the foundations of Chinese culture. . China developed Tianhe-IA.P a g e | 43 In 2010. and a Confucian education.2. currently stored in the National Supercomputing Center of Tianjin. It is two publicy (for military or something secret usually is not announced) available supercomputers among world's top 10. who believed Legalism departed from the original spirit of Confucianism. Chinese art. especially through political movements such as the Cultural Revolution. China's traditional values were derived from various versions of Confucianism and conservatism. conduct bio-medical computing and help design aerospace vehicles. Besides China's National SuperComputer Center's Tianhe-1A above. The literary emphasis of the exams affected the general perception of cultural refinement in China. were destroyed. opportunity for economic and social advancement in China could be provided by high performance on Imperial examinations. sexism. such as Legalism.1." The first leaders of the People's Republic of China were born in the old society but were influenced by the May Fourth Movement and reformist ideals. A number of more authoritarian and rational strains of thought have also been influential. 3. where many aspects of traditional culture were labeled 'regressive and harmful' or 'vestiges of feudalism' by the regime and thus. There was often conflict between the philosophies. In recent years. such as the family structure and obedience to the state. China also has Nebulae. Many observers believe that the period following 1949 is a continuation of traditional Chinese dynastic history.5 Culture For centuries. the world's fastest supercomputer. Examinations and a culture of merit remain greatly valued in China today.

Current output is used in only 4% and sent to China. Since the Cultural Revolution ended. and sparked interest nationally and even worldwide. Most of them are targeting the same product. Artifacts from the history of the silk route.3 Competition Analysis 3.sritranggroup. and folk and variety art in particular have gained a new found respectability.. Thailand's largest rubber. fashion and architecture have seen a vigorous revival. lauding it as an important achievement of the Chinese civilization and emphasizing it as vital to a Chinese national identity. (Source: http://www. as well as from the natural history of the Gobi desert. literature.P a g e | 44 literature. it is currently involved with private business. film.php) Southland Holding Co. we inflicted a direct competitor. is expected to grow at least equal to China for this reason. and 39% most 17% by the Indian market. We need more foreign and rubber non-stop.org/wiki/People's_Republic_of_China#Education) 3.1.com/en/page/10_corporate. Therefore. Ltd (Source: http://southlandholding. India..com/) Sri Trang Agro-Industry Public Company Limited (Source: http://www. Today. Chinese culture and the West were linked by the Silk Road. and Thailand did not stop the production and Exports of rubber behind demand. as manufacturer and exporter behind Thailand.1 Competitor Analysis Now Chaing Rai province is the area of rubber plantation and processing factory rubber export demand growth from China. The Company has many competitors. are displayed in the Silk Route Museum. and performing arts like Beijing opera. were altered to conform to government policies and propaganda at the time. (Source: http://en.chalonglatex. And similar in some for our major competitors such as    Chalong Latex Industry Co.com/e_index.Ltd. India.php) .wikipedia. the Chinese government has accepted a great deal of traditional Chinese culture as an integral part of Chinese society.3. music. various forms of traditional Chinese art. In the future.1.

The company started producing smoked rubber in 1978 with Bridgestone as its first customer. (Source: http://www. Thai Hua Rubber Public Co. In total the company employs about 1900-2000 workforce. The company has business joint ventures with foreign investors to produce Medical Rubber Glove. since 1991. The family together with some neighbors moved to Rayong in 1957 and brought some rubber seedlings. That is contributable to our success. For more than three decades. raw and roasted Coffee Bean. Luckchai's grandfather held when he emigrated from China to Nakhon Si Thammarat 80 years ago.com/)  Thai rubber latex corporation (Thailand) Public company limited. Original formed in 1985 under the name of THAI HUA RUBBER COMPANY LIMITED by the family KITTIPOL together with some close relatives. Thai Rubber Latex Corporation is a leading manufacturer and exporter of latex concentrate. extruded rubber thread. talcum coated rubber thread. Thai Rubber Latex Corporation has stably become one of the most recognized concentrated latex producers in Thailand and gained numerous reputations within rubber industry worldwide. and spontaneous customer services. the company was rank as one of the largest rubber producer and exporter in Thailand. rubber wood Kitchenware.P a g e | 45 The big competitors such as  Thai Hua Rubber Public Co.Ltd Planting para rubber was the first job that Mr.. (Source: http://www. the company changed its name to THAI HUA RUBBER PUBLIC COMPANY LIMITED.thaihua. Our core competitiveness is derived from consistency of supply. China. and various rubber products. disposable rubber glove. Ltd head office is situated in Bangkok. auto Tyre.com/) . high-quality products. In 1996..thaitexgroup. The company has 11 production plants in different region of Thailand and 1 branch office in Shanghai.

This is the largest rubber company in China. our rubber processing.7 billion Yuan registered capital of 800 million Yuan. most with 54 % of the export value of rubber. A clear target groups and analyzed the characteristics of the possibilities.3. 130.. The target customers that will lead to success in direct sales in the analysis. Of capital than 2.S. the area planted in rubber production to 1. all of Thailand. Therefore.260 million. followed by rubber smoked sheets (26%) and latex (19%) for the information. In Yunnan province is one of the 10 major industrial facility of the county by the year 2004 the company Yunnan Nong Ken Group Co.000 tones per cent. Ltd in association with Yuntian Hua Group Co. Ltd was at Kun Ming City. and the prospects salesman match has to be divided clear market that can be measured quantitatively and easy access because consumers all potential customers may not always and if there is no market segmentation is difficult to analyze the needs of actual customers until they are not able to offer in the form of satisfaction to their customers. China is the country of the world's largest rubber volume of use is 25 per cent of the amount of rubber in the world in the last 5 years.5 million square meters per year. Interest of the rubber market in China is as follows. we see that China is to be a good customer in the export business.2 Customer Analysis Customer Analysis is determined by target customer or we have to offer sales and services to customers where that the analysis of target groups (Occupants) allows to know the behavior in the purchase and use of the actual target group.. $ 3.P a g e | 46 3. . the demand for rubber in China is rapidly increasing average 10 percent per year until the top importing countries rubber largest one of the world in 2007 China imported rubber worth U. Ltd established Yunnan Natural Rubber Production Co.. Thailand's largest rubber exports to China. Increased 8 percent compared with the year 2006 with a market share of Thailand is also number one export market.1.

 Bargaining power of supplier Crisis. The rubber farmers of more than 15.  Bargaining power of buyer Aggregation of rubber sales not only benefit from the purchase was also the bargaining power of customers further reduced by this method uses the price of goods up within the group is treated the same price. The profitability of other it's the technique that can each store from which some without prejudice to the agreed price. The help given the . the company turned to new interests and rubber production increased because of the importance of rubber and to demand more.forces model for the competitive Rubber in Chiangrai. Resulted in land price increase from 3000-3500 baht per rai per rai is almost ten thousand Baht and if thinking about buying a rubber plantation grown then. Make money flow into the economy of Chiang Rai. The Phaya Meng Rai has big capitalists to buy about 1 thousand farm to plant rubber.P a g e | 47 3.  Threats of new entry Rubber is currently increasing need in the market. production and cost the same. Customers will not be able to negotiate a trade because the price out of each stores the same. the decline in rubber prices during the year 2534 to year 2535 continued to rubber farmers have suffered and demanding the government come.  The Rivalry among Existing competitor Now in Chiangrai has private investors from the South of Thailand the major buy a lot of rubber cultivation and the Chiang Rung. Considered a source of rubber cultivation is important. If not satisfied with the price I have to buy it because the other stores selling the same price. Khun Tan.Chiang Khong Wiang Chai entertainment section has a factory finish. Therefore.1. about 10 million Baht.000 families are planting more than 350. Especially in Chiang Rai. The use of rubber processed and used in many benefits and its growing cluster what are our company’s major competitors ago.3 Competitive Analysis The Five .000 acres and is about to open another cut hundreds of thousands of farm This will generate revenue to rubber farmers in the future. This can be done very easily because the supply of goods.000 acres and rubber tapping rubber to open no less than 5. We have been promoting and expanding rubber cultivation area to the north. Rubber demand exceeds capacity.3. I need to add more to the old rubber thousand baht per rai per year.

" There are also issues about the relationship between the price of rubber in the market AFET and the price of rubber in the international market is likely to become possible in the same direction. It is one way the government aims to develop a system of rubber market. Result in charges pay market prices and margins in each level resulted in farmers selling at a low price for rubber tire market in Thailand is having problems as well. The market is vulnerable lack of bargaining power and do not get their fair due from the sale of tire dealers be purchased including assessment quality rubber than the reality because most poor farmers have to sell products to the market as well as the immediate livelihood Rubber multi-level dealers. The rubber has important role in determining the price of rubber. these are all things affecting the basic rubber. The price of rubber has a close relationship with the oil price in world market simply means "to oil the tires up.P a g e | 48 structure of the Thai rubber market appeared to look like a buyer's market or a few buyers market the rubber farmers. both domestic and foreign countries to be effective. Yang lack of markets to free competition. Since replacement of the rubber product is a synthetic rubber by-product is distilled from crude oil. The majority of small rubber planters established central rubber market. . Rubber products have quite a vehicle and industrial rubber products.  Threats of substitute product and service Threat of substitute products and services for business expansion plans are to the relatively high. because the sender used the method of direct trade between producers and users.

) 3.2 STP analysis 3.P a g e | 49 3. India. . China. we segment market by using the country that wants to import the rubber to be the base for segmenting market. We want to kwon what country suitable for exports our products. German etc Figure 3-2 Rubber consumption in the world USA China Japan India Korea German Malaysia Thailand Turkey Other (Source: Geojit Comtrade Research Desk. Our target is a China-market specialization following in the table.2.2 Market Target Thai-North is having only main one target focus. Korea.Geojit Comtrade Ltd. Natural Rubber: Will the Rally Contnue?. So we have many countries in the international rubber market to export such as USA.2. Japan.1 Market segment Our company planned to export products.(2010).

with 54 percent of the total export value and followed with Smoked Rubber Sheets (RSS) to responding growth of automobile industry in China. demand for rubber is increased continuously and become a product shortage that make demand of smoked rubber sheets(RSS) and Block Rubber are continuous. Vol.2 No. (Source: Export-Import Bank of Thailand) Figure 3-2 Increasing in demand of rubber in China annually 4000 3500 3000 2500 2000 1500 1000 500 0 2754 2743 3043 3353 :1000Tons ・・#" ・・ "# ・・#" ・・ "# (Source: Association of Natural Rubber Producing Countries. we have policy to production with higher quality and try to develop standards and quality of basic processing rubber to meet the needs of Chinese industry. while today China cannot produce rubber to enough their demand. Thailand export block rubber to China most. Monthly Bulletin of Natural Rubber Trends & Statistics.P a g e | 50 EXHIBIT 3-1 Market Specialization US Rubber Smoked Sheet (RSS) CN JP IN KR DE MY TH TR Block Rubber China is a country that import rubber largest of the world.7 July 2010) . The rapid economic development in recent years in China. Moreover.

tires. STR5L. 3. Thai-North Rubber position is the export quality. etc. 2. EXHIBIT 3-2 Thai-North Rubber Position Export Quality Standard Rubber Smoked Sheets 1( Extra light color ) Rubber Smoked Sheets 1 Rubber Smoked Sheets 2 Rubber Smoked Sheets 3 Rubber Smoked Sheets 4 Rubber Smoked Sheets 5 Domestic’s quality    Export’s quality    -  Block Rubber Divided into 4 categories are STR XL. automotive parts.  Smoked Rubber Sheets (RSS) The split into 5 categories: Rubber Smoked Sheet 1. allow to product line we can rank with many grade to serve the variance of demand.P a g e | 51 3.. 4 and 5 classes by grading the quality of rubber is used as the basis for each disc as a raw material to production of goods such as water wheels. STR 5 and STR 5CV**. The products are divided into grades by using the ground base eye (Visually Grade) is divided into rubber smoked sheet. shoes. It is a product used as raw materials in manufacturing and other products like the Rubber Smoked Sheet (RSS) on the tire industry.2. .3Positioning Our production is for export quality.

Our positioning is EXHIBIT 3-3 Positioning of Our Company Standard Standard Thai Rubber XL Domestic’s quality     Export’s quality     - Standard Thai Rubber 5L Standard Thai Rubber 5 Standard Thai Rubber 5 CV** Standard Thai Rubber 10 Standard Thai Rubber 10 CV ** Standard Thai Rubber 20 Standard Thai Rubber 20CV** (Source: http://www. conditions and standards required. The test results with high accuracy include of the transport process that ensures of all products delivered to customer’s needs.com/th/page/20_products2.sritranggroup.php ) .P a g e | 52 Block Rubber is begins with the selection of raw materials and strict control before entering the manufacturing process until it is completed and tested with lab standard quality.

Sheet farmers as raw rubber sheets and rubber at higher quality level 3 to level 2 and level 1. . when the plants purchased raw rubber sheets of these farmers to be rubber smoke with low quality. 3. Would achieve higher sales prices and increased profits. through the manufacturing process to reduce the size of a modern.3. However. We think that exporting rubber processing. Rubber process into the cooked temperature through the process of briquette weight to be prescribed through rubber packaging will be processed by the laboratory test standard. However. So that a primary processing plant of rubber latex rubber sheet Raw and smoked sheets will create added value for the rubber to meet processing products in China. The processing plant was established to help develop basic rubber tires standard.1. 3.3. We see that if the export rubber in latex. The raw rubber sheet becomes rubber at higher prices immediately. There are opportunities and possibilities in developing countries as a manufacturing center.1 Product Since Thailand is well equipped in terms of the raw material advantage with Competitors.To produce sheet rubber and rubber smoked for higher quality.1.3. China has a very high market demand in terms of rubber. it is difficult to transport. That it would be easier and more convenient in transportation. and send the basic process for quality products to meet the needs of users. Is there a way to make prices higher by introducing the steam or smoke. clean as determined by it. processing of raw rubber sheet at the present the farmers have production low quality.3 Marketing Mix Strategy 3. the raw rubber sheet. The test results with high accuracy.2 Quality Packaging Rubber production is a standard selection of quality raw materials.P a g e | 53 3.1 Variety Branding There are 2 type of product of rubber processing such a Rubber Smoked sheet (RSS) and Block Rubber to export in China. rubber farmers who produce poor quality.

The Company is divided into save cost price which price to purchase directly from agriculturist.3 Place 3. .P a g e | 54 3.3.3. And will comply with the demand of rubber in the industry and are buying that. According fact the amount of rubber agriculturist organizations or vendors to sell products and there are a lot of volume.1 Factory Our company choose Chiang Rai province to set up factory because it is the suitable for processing rubber. is sold with partners and using the global export prices.857 Rai. We are separated by price segment in which we will split the purchase price and export volume of purchase and the demand of consumers by period time. Based economic growth also .Save cost is the price to purchase directly from agriculturist. The major factor that made we choose that are raw material. On Export the company will focus on the world market. We use each day pricing. We will push the price of rubber to raise to the level of agriculturist tires a profit worth the investment and maintain the rubber price to be stable. as appropriate to the situation and possible price to buy and prices. 3. Surat Thani. We have many factors to choose this province. The company offers a low cost. Trang etc. Right now is extremely competitive. Of course. Using the global export prices overall rising trend.3. 347. Chaing Rai have trend to rubber plant across the 18 districts.3. Nakhkon Si Thammarat. Expected in the coming years Chaing Rai will be the top of rubber plant in the country subordinate of Songkhla. . Due to market products based on low. now that the company will be based on a range of rubber products to market but that price will be adjusted up or down. It is a major exporter. Companies are using strategies is pricing conjunction with the world market price. The concern the market should not worry because the information was reviewed currently Thailand’s rubber emphasis on export to China 39%. This has variance and based on the quality of rubber parts for each class of agriculturist.Price is sold with partners.2 Price The pricing of the companies will be priced based on the purchase price of domestic.

While the eastern part of the province is relatively flat river plains. former residence of the Late Princess mother (mother of the present king) Somdej Phra Srinagarindra. Chiang Rai is the northernmost province of Thailand.P a g e | 55 growth continued until we produce left behind to rest 4% of the country. Neighboring provinces are Phayao.aspx?NewsID=9530000131252) 3. the western part consists of the mountainous terrain of the Hills of Northern Thailand. Lampang and Chiang Mai.  Geography The average elevation of the province is 580 m.3. the 1389 m high Doi Tung (Flag hill) is the most important hill.manager.1 General Information of Chiang Rai province. . Laos and Myanmar converge . Chiang Rai is the suitable that we will set up factory. The north of the province belongs to the so-called Golden Triangle. We expect that it will lower wage and save cost. Through the town of Chiang Rai itself flows the Kok River.3. In the north it borders Shan State of Myanmar and Bokeo of Laos. Thanks to her activities the hills were reforested. and the hill tribes changed from growing poppy to other crops. Currently Office of the Rubber Replanting Aid Fund is pushing to have more offices at the port of Chiang Khong to facilitate the export of rubber to China and South of China. While not the highest elevation of the province. Nearby is the Doi Tung royal villa.1.th/Local/ViewNews. at which the borders of Thailand. the Mae Sai and Ruak River to Myanmar. So we can employee from those countries.co. (Source: http://www. Other factor is about employee Chiang Rai have the border near with Myanmar and Laos. The Mekong river forms the boundary with Laos. The Wat Phra That Doi Tung temple on top of the hill according to the chronicles dates back to the year 911.an area which was very unsafe because of the drug smuggling across the borders. At the same time Chaing Rai also has the ability to export to China via South Road R3A.

.1. notably Santikhiri. arts.P a g e | 56  Demographics The majority of the population is generally ethnic Thai.wikipedia. And we will do the same with warehousing.2 Inventories and Warehousing We will locate Inventories and Warehousing near the Factory because it will better to save cost of transport. We have plan to expanse to be located near the port for save cost of logistic but it up on the production and the profit that we will get. The region is home to distinctly different food. music. A minority are of Chinese descent.5% of the population belongs to the hill tribes. Chiang Rai is also a melting pot of hill tribes and their own unique cultures.org/wiki/Chiang_Rai_Province) 3. If we have high of return this project will follow. a minority in the North of Thailand. mainly descendants of the Kuomintang soldiers who settled in the region. but 12. way of life and even language. (Source: http://en.3. The Inventories up on the demand of products we will management inventory to be value with space that we have. It will be close to the factory and not far to the port that we will ship the product.3.  Medical Health Care The popular Chiang Rai hospitals are:  Chiang Rai Regional Hospital Kasemrad Sriburin General Hospital Overbrooke Hospital Local Culture The north of Thailand's culture is Lanna in origin and the people are very proud of their northern roots.

 Air All most shipping in early season of production that have a few products and high price to Airports in various major cities of China such as Airport City Kun Ming.P a g e | 57 3. Shanghai. Free area. Guangzhou City. Then change to freight ship small for transport to Nan Hai Pier. R9) is start from Nong Khai Province. Guangxi. In 2001Thailand has exported vegetables and fruits to amount of 100 tons or value of 3. Beijing and Xiamen Min. Laos to Vietnam and enters to China. The First routes. Go to central wholesale market of fruit imported Lee Sui. Transport by the Mekong River by start from port of Chiang Saen district or Chiang Khong district in Chiang Rai province. . Shipping to port of City Xishuangbanna in Yunnan Province or port of Nanning city. Guangxi.7 billion Baht. The First route(R 12. Four days for shipment. There are two routes that Thai can shipment to China. R8 and R13. Nanning City. Beijing etc. And distribute the goods to the following cities of Guangdong and other provinces such as Shanghai. Free area.  Motor There are five routes but in present not widely used because of poor road conditions and construction was not completed.2 Location Logistic In the present there are three ways to shipments from Thailand to The People’s Republic of China. Then distribute the goods to the following cities. The Second routes.  Ocean Now transport by ship is major transportation routes. Most of the freight route is start from Laem Chabang through the South China Sea to Hong Kong. Chengdu.3. Kakhon Phanom Province and Muk Da Han to Vientiane.3.

The Last route (R3A) is start from Honor district of Nan province to Laos through Checkpoint of Huaikorn. R3W) is start from Mae Sai district of Chiang Rai province to Myanmar side to Dan Tha Khi Lek through Chiang Tung City to Xishuangbanna in China with a distance of 253 kilometers. The Third route (R3B. Boten and Bohan and enters to Xishuangbanna in China with a distance of 254 kilometers. Yunnan province with a distance of 240 kilometers.P a g e | 58 The Second route (R3B. Boten. Namnegrn. Bohan and enters to Xishuangbanna in China with a distance of 300 kilometers. .R3W) is start from Mae Sai district of Chiang Rai province to Myanmar side to Checkpoint of Tha Khi Lek through Young City and enters to Xiamen Song City of China to Xishuangbanna. The Forth route (R3A) is start from Chiang Khong district of Chiang Rai province to Laos through Huai Sai in Luang Nam Tha.

The 5. technical issues and varying levels of enthusiasm among countries involved. with an additional section of track connecting it to Laos.P a g e | 59  Kunming-Singapore Railway Rail Kunming-Singapore rail link by 2015? The Associated Press reports that the Association Asian is of Southeast (ASEAN) US$15 connecting Nations a expecting billion railway with Singapore Kunming to be completed by 2015. (Source:http://www. which is expected to dramatically increase the flow of people and cargo throughout the region. which is several years later than had been previously hoped.000 kilometer (3.000 mile) rail line's development has been hampered by a lack of funds.4 million in grants also being secured for the rail line. ASEAN secretary-general Ong Keng Yong told the AP that the Asian Development Bank has recently given Cambodia US$40 million in soft loans. The western branch will travel through Myanmar and the line's eastern branch will cut through Cambodia and Vietnam.gokunming.com/en/blog/item/27/kunmingsingapore_rail_link_by_2015 ) . passing through Malaysia. it is the two branches extending north from Bangkok that have proven more difficult. with an additional US$5. There is already an existing rail link from Singapore to Bangkok.

P a g e | 60 EXHIBIT 3-4 Trans-Asian Railway network (Source: http://www.1 The exhibitions show The exhibitions show will also introduce ThaiNorth Rubber and is still regarded as temporary sales channels with a low cost to deliver and demonstrate products to consumers directly.th/fruit-olympic/freetrade-thaichina.tu.mof. Department of Export Promotion (DEP) and Foreign Market Development Office in line of China.4 Promotion 3.4.ac.3. The show had to be coordinated on several issues. The trade show will be arrange meeting .htmand http://www. The important.3.econ.th/ertc/php/) 3. we will work with government agencies of Thailand and China that help us to promote and support like The Oversea Trade Fair.or.

3. Thai-North Rubber © (Source: http://www.2 Website Marketing strategy is effective and cost-effective results to our most other one is. is will helps take the good image of Thai-North-Rubber to modern. We can track any information from such cooperation. Marketing online and one of the key elements of online marketing strategies for our business is web site. in the critical locations in economy throughout the year such as Bangkok.3.P a g e | 61 between entrepreneurs and those interested. Shanghai and Zhejiang.4. etc. And the price of goods down by reduce middleman which will increase competitiveness in the global market. cope.com/th/page/index. Promote by website will enhance the opportunity of our company from buyers all over the world.sritranggroup. and up-market of rubber. The web site also increase the revenue for us.php ) .

In the future North also increase produce of rubber follow age of rubber trees.698 1.4 Sale Forecast/Profit estimate Quantity Production Thailand has produced rubber high as number one in the world. Most of the country will be planted in the southern hemisphere and the second was the Northeast. Table 3-1 Quantity Production Zone South Central and East Northeast North 1: Rai Figure 3-3 Quantity Production in Thailand Quantity 11.660 2.com/statistic/stat_index. . It has space for planting more than 2 million hectares and harvest more than 70 percent per year.209 600.799.P a g e | 62 3.978.htm ) In the North area of Thailand has project plant 1 million of rubber.339. Growth rate will increase too.578 (Source: http://www. In Chiang Rai has just 10% tapping rubber. Thailand has rubber cultivation in regions of the country.rubberthai.

725 326.566 2005 272.850 256.470 263.055 2004 253.608 225.763 209.272 176.867 245.523 245.754 304.921 214.214 278.656 251.967 210.168 169.208 338.729 240.474 264.481 214.418 175.763 297.381 257.473 264.323 265.070 187.930 2007 264.417 207.341 203.750 278.508 Per: Ton .044 268.871 299.835 247.509 236.323 219.239 210.317 234.172 231.220 218.291 250.423 199.179 279.522 216.492 235.569 264.882 231.223 291.907 220.299 214.305 Quantity 2006 254.413 258.357 242.397 264.634 220.494 218.061 243.P a g e | 63 Table 3-2 The export value of Thailand rubber in 2003 – 2009 Month 2003 JAN FAB MAR APR MAY JUN JUL AUG SEP OCT NOV DEC 317.536 269.795 197.162 204.593 280.647 268.370 263.172 264.925 212.119 250.473 267.341 236.068 257.991 259.846 2008 285.282 212.020 220.253 188.871 249.393 276.099 201.993 319.418 271.283 244.397 277.113 2009 225.525 269.270 251.

167 2.398 2005 938.499 68.060 2.504 488.295.848 510.470 524.193 2009 322.297 2.176 2009 24.799.574 595.109.410 1.875 2.658.003.984 1.460 11.588 245. trap and produce in 2008-2009 Plan of rubber(Rai) 2008 North Northeast Central South 600.436 349.512.135 509.948 2.700 76.559 82.237 Per: Ton Table 3-4 Compare plant.905 129.632.510 950.259 Produce(Ton) 2008 3.977.063.051 2004 920.069.283 2008 694.345 555.132.549 1.327 488.204 9.578 2.536.628.116 2009 6.698 2009 693.418 11.917 364.489 105.375 165.514.590.339.724 2.710 154.972 1.550 417.675 36.771.381 .668 1.218 690.326 1.152 197.164 72.841 569.316.726.812 2.560 9.273.151 77.503 1.209 1.762 2007 796.564 77.P a g e | 64 Table 3-3 Category of rubber export Year RSS STR Latex Mix other Total 2003 1.097 2.675.990 Trapping of rubber(Rai) 2008 14.103.309 993.644.524 26.166 198.060 2.443 60.673 2006 861.236 2.984.

62 138.co.62 RSS 5 134.thainr.000 Filed Latex 132 - Songkhia Suratthani NakornSrithammarat 137.manager.th/Local/ViewNews. Export rubber price base on foreign market both cash and future market. trap and produce in 2008-2009 (Source: http://www.5 RSS Cutting 127.5 134.500 120.) 70.5 RSS bubble 133.aspx?NewsID=9530000131252 and http://www.5 130.php?detail=stat-thai ) Tendency rubber price per year Traded domestic rubber price will base on auction price and quantity.) Rubber market RSS 13 138.P a g e | 65 Figure 3-4 Compare plant. Table 3-5 Rubber smoked sheet Price (Baht/KG.com/th/index.49 .62 RSS 4 137.16 Quantity (KG.62 135.

com/price/eng/price_eng. Price of RSS 3 is 142 and STR 138 Baht per Kg.htm ) North of Thailand has 4% area all of plant rubber but has around 10% can trapping rubber.P a g e | 66 Table 3-6 Cash market on offer price Country Thailand Indonesia Malaysia Type RSS 3 STR 20 SIR 20 SMR 20 Shipment JAN JAN JAN JAN US CENT / KG 485 485 479.8% of north rubber export to increase total sale every year. Our company assumes 0. In rainy season is decrease sale volume because it has affected to keep latex.6 480 Table 3-7 Future Market on AFET Month Jan-11 Feb-11 Mar-11 RSS 3 139.10 (Source: http://www. We have account receive 30% from sale forecast. Table 3-7 Volume 2011 RSS 3 STR Per: Ton 125 203 2012 137 223 2013 151 246 2014 166 270 2015 183 297 .00 141.70 142.rubberthai.

877 231.509.129 Jul 648.461 307.67 10.445.717 299.024.461 307.574.885 Feb 772.67 10.939 501.45 7.23 114.30 6.574.024.99 4.456 1.260 1.366 449.994.43 11.99 4.305 2.730.603 733.870 1.017 473.43 11.99 4.99 6.49 Year 2011(Price) Product/Month RSS (Baht) STR (Baht) Total Jan 772.197 2.967 366.497.877 284.197 299.57 7.694 Nov 997.497.221.85 11.99 7.925 1.588 449.26 184.02 11.723 2.129 Aug 648.99 6.767.305 2.260 1.045 Dec 997.44 8.603 501.85 11.14 17.925 1.85 17.389 1.461 461.02 11.991.960 1.694 Oct 972.191 461.722.478 194.908 772.168 598.44 8.53 6.509.445.30 5.870 1.478 291.P a g e | 67 Table 3-8 Sale Forecast/Profit estimate.213 772.740.885 Mar 947.960 1.717 291.870 1.57 7.908 752.465 598.237 284.588 366.45 70.024.537.129 Sep 972.343 Apr 947.723 2. 2011 Year 2011(Quantity) Product/Month RSS (Ton) STR (Ton) Total Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec Total 5.237 194.85 17.389 1.887 2.227 25.191 473.461 307.43 18.478 194.673.57 7.673.939 501.017 4.221.343 May 648.85 14.223 15.537.576.478 194.024.213 7.43 18.322 1.465 733.260 1.673.260 1.322 1.870 1.450 Year 2011(Account Receivable) Product/Month RSS (Baht) STR (Baht) Total Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec Total 231.57 7.045 Total 9.14 17.85 14.366 307.994.887 2.456 1.135 .673.43 11.939 752.53 4.43 11.939 501.973.129 Jun 648.576.

725 Jul 548.415.P a g e | 68 Table 3-9 Sale Forecast/Profit estimate.725 Sep 1.29 Mar 7.73 12.203.435 8.57 20.29 Apr 7.26 125.055 1.86 6.395 2.435 849.097.28 10.86 6.57 20.494.449 Nov 1.415.15 Aug 3.395 2.29 Oct 7.57 20.831.29 Total 77.097.734.116 329.558 329.314.734.734.395 2.527 867.725 Aug 548.164 520.055 1.435 849.097.57 20.57 20.73 12.291.527 867.395 2.116 329.29 Dec 7.57 20.055 1.86 6.449 May 548.449 Apr 1.73 12.395 2.395 2.94 Year 2012(Price) Product/Month RSS (Baht) STR (Baht) Total Jan 1.831.717 424.197 1.717 424.159 260.435 849.28 10.097.055 1.116 329.055 1.116 329.734.831. 2012 Year 2012(Quantity) Product/Month RSS (Ton) STR (Ton) Total Jan 7.73 12.558 164.449 Oct 1.949 28.435 424.831.717 849.29 May 3.116 164.15 Jul 3.29 Nov 7.318 520.055 1.185 849.415.734.159 520.197 1.28 10.318 520.28 10.831.73 12.57 20.734.527 867.73 12.197 1.435 849.527 867.159 260.449 Mar 1.558 164.055 1.197 1.318 520.116 3.831.57 20.395 2.435 849.449 Dec 1.734.097.86 6.73 12.318 520.318 520.116 329.116 329.055 1.449 Feb 1.73 12.29 Feb 7.395 2.097.734.097.318 520.970.415.318 260.15 Sep 7.725 Jun 548.15 Jun 3.435 849.159 260.343.545 17.097.717 424.318 5.831.348 .558 164.449 Total 10.68 202.495 Year 2012(Account Receivable) Product/Month RSS (Baht) STR (Baht) Total Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec Total 329.831.

557.32 Total 84.350 934.206.189 Jun 181.028 572.32 Nov 8.028 572.907.907.114.350 934.760 1.028 572.557.760 1.98 138.078.16 Aug 4.175 467.378 Dec 362.32 May 4.378 May 181.297 Aug 603.16 Jul 4.834 3.378 Mar 362.028 572.82 22.25 6.350 934.350 934.378 Apr 362.380 953.783 .907.50 13.344 31.206.297 Jun 603.189 Jul 181.189 Aug 181.760 1.50 13.82 22.82 22.028 572.280 5.378 Nov 362.760 1.114.380 953.114.594 May 603.834 3.350 934.16 Sep 8.014 286.50 13.32 Feb 8.91 11.50 13.50 13.834 3.723.028 572.32 Apr 8.944 Year 2013(Account Receivable) Product/Month RSS (Baht) STR (Baht) Total Jan 362.594 Total 12.50 13.82 22.380 953.32 Oct 8.067.014 286.378 Total 3.760 1.907.907.557.594 Feb 1.760 1.297 Sep 1.25 6.834 3.917 1.145.206.834 3.917 1.82 22.907.594 Oct 1.378 Oct 362.907.206.175 467.834 3.014 286.594 Dec 1.82 22.297 Jul 603.028 572.014 286.907.917 1.594 Mar 1.378 Feb 362. 2013 Year 2013(Quantity) Product/Month RSS (Ton) STR (Ton) Total Jan 8.350 934.189 Sep 362.343.206.32 Dec 8.028 572.82 22.760 1.917 1.91 11.834 3.350 934.594 Nov 1.114.82 22.206.P a g e | 69 Table 3-10 Sale Forecast/Profit estimate.620.503 9.25 6.114.350 934.600 19.114.114.50 13.91 11.206.91 11.114.594 Apr 1.25 6.834 3.23 Year 2013(Price) Product/Month RSS (Baht) STR (Baht) Total Jan 1.175 467.760 1.50 13.16 Jun 4.557.32 Mar 8.380 953.175 467.206.25 223.

28 Jul 4.115 314.585 1.56 Mar 9.098.908 Aug 199.027 Aug 663.618 3.618 3.713.436 2.049.56 Year 2014(Price) Product/Month RSS (Baht) STR (Baht) Total Jan 1.027 Jun 663.054 Feb 1.585 1.28 Jun 4.098.539 Year 2014(Account Receivable) Product/Month RSS (Baht) STR (Baht) Total Jan 398.436 2.21 24.713.309 1.098.35 15.67 7.426. 2014 Year 2014(Quantity) Product/Month RSS (Ton) STR (Ton) Total Jan 9.231 629.426.585 1.098.231 629.793 513.35 15.231 629.07 245.35 15.585 1.327.054 Apr 1.027.426.309 1.60 12.049.027.426.P a g e | 70 Table 3-11 Sale Forecast/Profit estimate.231 629.67 7.56 Total 93.35 15.718 1.585 1.426.327.816 May 199.816 Total 3.816 Mar 398.436 2.426.793 513.274.027 Sep 1.436 2.027.35 15.35 15.21 24.027 Jul 663.309 1.436 2.618 3.327.027.098.56 Dec 9.982.986.585 1.56 May 4.793 513.260.049.816 Dec 398.327.436 2.027.162 .21 24.585 1.816 Feb 398.115 314.67 7.231 629.054 May 663.098.56 Nov 9.48 152.35 15.67 7.295.115 314.21 24.179 34.054 Total 13.054 Mar 1.027.60 12.618 3.327.816 Oct 398.618 3.21 24.816 Apr 398.115 314.618 3.327.618 3.908 Sep 398.718 1.308 6.327.60 12.027.436 2.231 629.054 Oct 1.278.56 Feb 9.793 513.098.28 Aug 4.908 Jul 199.309 1.56 Apr 9.436 2.327.56 Oct 9.28 Sep 9.618 3.027.21 24.231 629.816 Nov 398.60 12.718 1.21 24.35 15.426.054 Nov 1.098.21 24.360 20.054 Dec 1.718 1.713.231 629.585 1.908 Jun 199.713.426.854 10.049.

P a g e | 71

Table 3-12 Sale Forecast/Profit estimate, 2015

Year 2015(Quantity) Product/Month RSS (Ton) STR (Ton) Total Jan 10.28 16.73 27.01 Feb 10.28 16.73 27.01 Mar 10.28 16.73 27.01 Apr 10.28 16.73 27.01 May 5.14 8.36 13.51 Jun 5.14 8.36 13.51 Jul 5.14 8.36 13.51 Aug 5.14 8.36 13.51 Sep 10.28 16.73 27.01 Oct 10.28 16.73 27.01 Nov 10.28 16.73 27.01 Dec 10.28 16.73 27.01 Total 102.83 167.28 270.11

Year 2015(Price) Product/Month RSS (Baht) STR (Baht) Total Jan 1,460,180 2,308,480 3,768,659 Feb 1,460,180 2,308,480 3,768,659 Mar 1,460,180 2,308,480 3,768,659 Apr 1,460,180 2,308,480 3,768,659 May 730,090 1,154,240 1,884,330 Jun 730,090 1,154,240 1,884,330 Jul 730,090 1,154,240 1,884,330 Aug 730,090 1,154,240 1,884,330 Sep 1,460,180 2,308,480 3,768,659 Oct 1,460,180 2,308,480 3,768,659 Nov 1,460,180 2,308,480 3,768,659 Dec 1,460,180 2,308,480 3,768,659 Total 14,601,796 23,084,797 37,686,593

Year 2015(Account Receivable) Product/Month RSS (Baht) STR (Baht) Total Jan 438,054 692,544 1,130,598 Feb 438,054 692,544 1,130,598 Mar 438,054 692,544 1,130,598 Apr 438,054 692,544 1,130,598 May 219,027 346,272 565,299 Jun 219,027 346,272 565,299 Jul 219,027 346,272 565,299 Aug 219,027 346,272 565,299 Sep 438,054 692,544 1,130,598 Oct 438,054 692,544 1,130,598 Nov 438,054 692,544 1,130,598 Dec 438,054 692,544 1,130,598 Total 4,380,539 6,925,439 11,305,978

P a g e | 72

Table 3-13 Sale Forecast/Profit estimate, 2016

Year 2016(Account Receivable) Product/Month RSS (Baht) STR (Baht) Total Jan 1,460,180 2,308,480 3,768,659 Feb 1,460,180 2,308,480 3,768,659 Mar 1,460,180 2,308,480 3,768,659 Apr 0 0 0 May 0 0 0 Jun 0 0 0 Jul 0 0 0 Aug 0 0 0 Sep 0 0 0 Oct 0 0 0 Nov 0 0 0 Dec 0 0 0 Total 4,380,539 6,925,439 11,305,978

P a g e | 73

3.5

Marketing Expend Budget
We anticipate the activity expenses mostly for covering the cost of additional staff to help facilitate the additional requirements for marketing activities. Table 3-14

Marketing Expense Budget, 2011 For year 2011 Marketing Expense Budget :

Item
Advertising Web marketing Production Web development Web ads/e-newsletters PR/Events/Promotion Trade show/Events Total

Jan

Feb

Mar Apr May

Jun

Jul

Aug

Sep

Oct

Nov Dec

Totals

1,000

1,000

1,000

1,000

1,000

1,000

1,000

7,000

500 200 200

500 400

3,000 0 0 0 3000 0 1000 1000

3,000 4000 1200 1000 1200

3,000 4500

9000 16,900

200 .000 4000 9000 13.000 200 0 200 4000 200 0 200 3. 2012 For year 2012 Marketing Expense Budget : Item Advertising Web marketing Production Web development Web ads/e-newsletters PR/Events/Promotion Trade show/Events Total Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec Totals 500 500 500 1500 500 200 200 200 200 500 200 200 500 1500 1200 3.000 4000 200 0 200 3.P a g e | 74 Table 3-15 Marketing Expense Budget.

2013 For year 2013 Marketing Expense Budget : Item Advertising Web marketing Production Web development Web ads/e-newsletters PR/Events/Promotion Trade show/Events Total Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec Totals 500 500 500 1.000 3500 9.500 500 200 200 200 200 500 200 200 500 2.000 3500 200 0 200 3.200 .700 3.P a g e | 75 Table 3-16 Marketing Expense Budget.000 200 0 200 3500 200 0 200 3.000 13.

000 13. 2014 For year 2014 Marketing Expense Budget : Item Advertising Web marketing Production Web development Web ads/e-newsletters PR/Events/Promotion Trade show/Events Total Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec Totals 500 500 500 1.P a g e | 76 Table 3-17 Marketing Expense Budget.000 3500 9.000 200 0 200 3500 200 0 200 3.500 500 200 200 200 200 500 200 200 500 2.000 3500 200 0 200 3.700 3.200 .

000 3500 200 0 200 3.000 3500 13.000 200 0 200 3500 200 0 200 3.000 9.700 3.200 . 2015 For year 2015 Marketing Expense Budget : Item Advertising Web marketing Production Web development Web ads/e-newsletters PR/Events/Promotion Trade show/Events Total Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec Totals 500 500 500 1.500 500 200 200 200 200 500 200 200 500 2.P a g e | 77 Table 3-18 Marketing Expense Budget.

P a g e | 78 Chapter 4 Technical Operation Feasibility Study .

1 Rubber Smoked Sheets (RSS) The rubber sheet made by applying more latex split second to capture the dirt and then with Ford Mick acid or acetic c. The screening must be highly skilled.1 Product Characteristic Rubber industry.  Rubber Smoked Sheet. which can be processed to a 2-way. Class that make rubber smoked a 5-layer rubber layer is considered low. These rubber used in the manufacture of finished products such as vehicle tires include tire bicycle tire motorcycle tire rubber gloves. Rubber Smoked Sheet 1 Rubber Smoked Sheet 2 Rubber Smoked Sheet 3. because the quality of rubber smoked sheets will be compared to the bar in the rubber. Rubber Smoked Sheet 5. Rubber Smoked Sheet 4. The drying air temperature 45-65 ° C takes about 3-5days waiting for distribution packaging.. There are 2 mainly type of product to export in our company.1. By accessing hospital smoked Temperature of 50-60 degrees Celsius takes 4-10 days and then classified visually Packaging. and then to dry in the shade will be raw rubber sheets (Unsmoked sheet. rubber processing industry is initially brought tapping latex from rubber trees that are preserved in reasonable condition and ease of its use as a raw material in the manufacture of rubber products. condoms and rubber band rubber tubing. USS).So. . 2-3 mm thick. etc. They were made with massage and rolling machine rolling tire and rubber. Screening layer of rubber and screening rubber floor that day.  A rubber sheet dry. 4. It will be your eyes and help to predict layer of rubber which will be standard.P a g e | 79 Technical Operation Feasibility Study 4.

Bubbles and dirt. .P a g e | 80 Standard rubber smoked sheets of Thailand Remove the rubber layer 3 on the criteria for judging. The rubber smoked this class is a quality equal Rubber TTR 20 quality rubber smoke better is considered a rubber on floor 1 or 2. 4. smoked cooked consistently good cohesive flexible points and no points other contaminants blamed as much as undesirable is a total of not more than 10 percent of the pages (like quality TTR 20). 1. 3. The use of water and sulfuric acid is part Considerations by separation of the rubber on its export standards following the Association of Traders rubber. The language of the selected layer of rubber called a point and points. Rubber Smoked Sheet rubber layer 3 is dried. The color and consistency of the color red does not mold. 2. between countries are as follows. No impurities. but if the quality worse than I consider it to be rubber.

. .1. . .without any blame.Clean 3.No contamination .without any blame. 2.Clean . . Have a little rust mold or dry wrapping a sheet of rubber.2 Rubber Smoked Sheets 2 (RSS2) 1. The properties of rubber.There is no point inflation .P a g e | 81 There are 3 types of Rubber Smoked Sheets (RSS) which are: 4. .A pin head size bubbles scattered around the plate.The spot of a small bark.no gravel .hard.Dry .Dry. . 2. but not more than 5% of the sample detected. Blamed acceptable . 3.There is no point inflation .1 Rubber Smoked Sheets 1 (RSS1) 1. The properties of rubber. .No contamination . hard. Price: 142 baht/kg 4. Blamed acceptable.1. Do not have mold or mold a little dry only the surface of the rubber sheet wrapping.no rust.no gravel .The spot of a small bark.1.1. . .A small bubble.

The properties of rubber.P a g e | 82 Price: 142 baht/kg 4.hard. Have a little rust. . 2.blamed acceptable.No contaminants . Price: 142 baht/kg . Mold or dry wrapping a sheet of rubber. . .1. but not more than 10% of the sample detected.Dry . .Have little spots .no gravel .There is no point inflation .3 Rubber Smoked Sheets 3 (RSS3) 1.a spot of little bark.1.A small bubble.

Is dried and then pressed into rectangular bar size 33. index of solid rubber. then dried and pressed into bar size 33. The waste tires must be included in the Tire and cut tank cleaning Honor and total iron bucket again into the machine through a crepe. Then small sub-rubber granules Rubber. Rubber Trade of Thailand. Amount of gel rubber outer layer of rubber STR 5L and STR XL stored for one year. viscosity etc.2 Block Rubber Materials was use in the production of block rubber and latex is required to build up before and the rubber handle.Use a rubber handle and then. Small rubber into be small pieces. of the rubber layer was different. and expected due to the oxidation of the rubber outer layer of rubber pieces. For raw rubber sheets can be cut and pressed into ingots and then bake it. were lower than in other parts of rubber.Use latex done by applying latex poured in the tank.3 kg. Because the outer layer of rubber is easy to abuse by oxygen and . such as the waste of raw rubber sheet rubber bottom cup The production process is different.3 kg . including the Tire and Rubber coagulation and cut into cubes. . including three STR 5L STR XL and STR CV60 is divided into three parts outside the central part in the three rubber samples revealed that the variance of STR 5L with the properties of processing most Examples of such properties of the process index oxidation.P a g e | 83 4. The food took over crepe.1.

Tire spins separation. While made of rubber and rubber to eliminate fat.1. Phil K New reaction sponsor of NRL action was done by changing variables as follows. the reaction of nitrogen rubber decreased significantly during the start of the reaction and gradually Decreased slowly. Rubber from latex. the concentration of sodium hydroxide and reaction time to get optimum conditions for preparing high-purity rubber. The results do try to express that possibly due to the slow sample degradation. In contrast. Assumed that due to chemical bonding.1 STR 5L Price: 138 baht/kg .2.Nitrogen content of the rubber is reduced as much as 0. Temperature change of the molecular motion (glass transition temperature) of the gel is higher than the soluble or the soul (sol fraction) of the structure and the structure branches of natural rubber during storage. After reaction for three to seven hours for every The concentration of base. The temperature of the reaction. Between functional groups active among the fatty chain length of phospholipid at the end of four lipid molecules of the rubber. Under conditions is low humidity. Of protein on the surface of rubber particles or May be due to the difficulty in removing the protein degradation and a very low volume. STR CV60 rubber gel content is quite constant in all parts of rubber from spinning tires and rubber separation of water through the removal of protein coagulation index of the rubber during storage increased significantly. From the rubber by centrifugation: 4. protein and fat removed and the coagulation index during storage is almost constant.P a g e | 84 ozone. 1-7 hours.02% after the reaction sponsor Phil K New Nation that the concentration of base was 7%. Rubber was removed from the protein structure of the resulting gels boosted after a stronger reaction. the reaction temperature of 70 ° C.

1.1.3 STR CV60 Price: 138 baht/kg (Source http://www.yangpara.2. http://www.rubber.2.th .co.P a g e | 85 4.2 STR XL Price: 138 baht/kg 4.com ) .

300.2 2.300.818.019.800 1.000 Apr 44 75 3.268.000 Dec 40 75 3.468.000 May 22 98.000 Nov 44 75 3.300.000 Apr 31 75 2.300.121.700.000 Year 2012 Jun Jul 18 105 1.222.400 May 24 98.875.000 Year 2014 Jun Jul 22 22 105 101 2.000 Apr 40 75 3.600.300.310.000 Mar 31 75 2.000 Feb 48 75 3.700.600.376.000.000 2.000 Sep 32 75 2.000.062.600.944.000.600.000 2.000.890.475.020.520.325.000 Jan 44 75 3.600.000 Jan 36 75 2.600.964.600 Total 397 32.400.000 Feb 44 75 3. .000 Sep 44 75 3.160.692.300.000 Dec 44 75 3.200 May 18 98.000 Total 440 35.000 Oct 40 75 3.000 Aug 22 108 2. Then result to the quality has high demand.000.000 Sep 48 75 3.000 Mar 48 75 3.000 Aug 21 108 2.000 Nov 48 75 3.600.000 Feb 36 75 2.100.000 Sep 40 75 3.2 2.000 Nov 33 75 2. The price that following the demand.424.000.700.000 Aug 18 101 18 108 1.000 Mar 40 75 3.400.300.2 Cost of good Table 4-1 Cost of goods Sold Cost of goods sold Product/Month cost of latex (Ton ) Price (Baht/Ton) Total Product/Month Cost of latex(Ton) Price (Baht/Ton) Total Product/Month Cost of latex(Ton) Price (Baht/Ton) Total Product/Month Cost of latex(Ton) Price (Baht/Ton) Total Product/Month Cost of latex(Ton) Price (Baht/Ton) Total Jan 25 75 1.000 Jan 40 75 3.356.P a g e | 86 4.000 Jan 48 75 3.205.244.806.000 Sep 36 75 2.200 Total 361 29.000 2.160.000 Apr 48 75 3.2 1.475.767.000 Feb 25 75 1.000 Oct 32 75 2.000 May 21 98.000 Apr 36 75 2.000 Nov 36 75 2.000 Aug 24 108 2.000 Dec 48 75 3.000 Oct 48 75 3.000 Dec 33 75 2.2 1.000 Dec 36 75 2.000 Year 2015 Jun Jul 24 24 105 101 2.000 Nov 40 75 3.000.2 2.700.300.700.000 Aug 20 108 2.700.000 Total 328 26.000.400 Total 480 38.000 Feb 40 75 3.600 May 20 98.875.000 Oct 44 75 3.000 Oct 36 75 2.000 Mar 36 75 2.000 * This month (May-August) have the high price because this time is the rainy season.000 Mar 44 75 3.800 Year 2011 Jun Jul 21 21 105 101 2.325.000 2.000 Year 2013 Jun Jul 20 20 105 101 2.700.700.600.592.

07 101.38 101.3 Pricing product At office of central rubber market Songkhla Suratthani Field Field Latex Latex Rubber scraps (factory) Local (factory) 89.8 101.34 94.58 86.1 93.82 116.43 115.85 106.4 98.87 98.77 98.27 Nakhorn.88 97.08 102.18 93.93 97.47 82. (Source: http://www.co.95 116.com/price/price_index.5 115.2 114.Rubber Market because the Southern rubber market is the big market.sritammarat Field Latex Local (factory) 90.44 104.42 83. ****The reason of the company brings a data office of Songkhla Central Rubber the stability of price.91 88. http://www.rubber.22 104.13 115.93 96.56 95 101.87 110.08 101.19 103.P a g e | 87 4.44 110.09 Table 4-2 Pricing Product Our price cost.89 107.3 87 94.93 93.75 99.63 100.78 98.44 98.93 93.59 107.php.01 104.02 102.) .98 91.45 114.01 96.rubberthai.93 98. The company cannot fixed the price in the future because have change on every time.15 99.17 Year 2010 January February March April May June July August September October November December Local 91.5 102.75 90.76 87.36 98.83 97.8 100. In Chiang rai it not has the stability of price.87 102.58 80.21 85.04 81.34 97.53 96.99 109. Which this price medium Using the cost of local price to changing up and down constantly. Our price is 93 Baht.95 92.4 84.33 96.88 99.33 98.1 107.85 104.htm. we use the local price.35 97.68 103.08 97.5 107.8 97.71 98. Which we use the price to stability with the real price.68 104.51 99.88 100.08 85.04 100.th/menu5.77 98.

000 1.000 2.000 1.300 Total 223.344 Year 2012 Jun 10.000 1.15 80 1.674.240 Feb 24.000 982.841.16 80 1.522.674.080.314.01 75 1.56 75 1.000 1.664 Feb 27.000 1.000 811.928 Aug 12.99 80 1.240 Oct 24.000 959.000 1.000 1.344 Sep 17.000 1.412 .443 Jul 10.15 80 1.036 Oct 22.674.000 1.036 Mar 22.45 75 1.28 80 1.344 May 10.664 Apr 27.000 1.000 1.56 75 1.29 75 1.383.28 80 1.32 75 1.349.000 1.56 75 1.349.344 Aug 11.221 Aug 13.56 75 1.025.000 1.99 80 1.841.443 Jun 11.32 75 1.000 982.000 892.000 1.000 982.830 Dec 20.99 75 1.080.664 Dec 27.000 1.078 Oct 17.51 80 1.841.29 75 1.000 1.29 75 1.15 80 1.664 Sep 27.000 892.28 80 1.000 892.344 Jan 20.000 811.000 2.036 Dec 22.15 80 1.830 Mar 17.000 1.025.928 Jul 12.669 Dec 18.32 75 1.443 Sep 20.630 Total 245.753 May 11.841.240 Jan 24.841.000 2.000 892.240 Sep 24.753 Year 2013 Jun 11.522.025.664 Oct 27.000 1.51 80 1.522.94 Jul 11.000 2.01 75 1.025.221 May 13.56 18.01 75 1.025.11 20.000 1.753 Jul 11.000 1.528.01 75 1.841.664 Mar 27.000 2.000 1.99 80 1.486 Apr 20.56 75 1.344 Feb 20.000 1.036 Feb 22.000 959.45 75 1.32 75 1.000 1.29 75 1.56 75 1.01 75 1.000 1.674.23 16.965.01 75 1.928 May 12.528 15.036 Sep 22.423.000 982.01 75 1.000 1.314.30 75 1.664 Jan 27.000 1.000 1.522.16 80 1.01 75 1.240 Dec 24.53 75 1.928 Year 2014 Jun 12.000 811.830 Feb 14.080.28 80 1.16 80 1.32 75 1.000 1.000 2.221 Year 2015 Jun 13.078 Nov 18.56 75 1.29 75 1.000 811.221 Jul 13.076.025.99 75 1.000 2.000 1.29 75 1.000 1.669 Total 184.000 1.000 959.30 75 1.486 Mar 20.522.830 Nov 20.32 75 1.830 Oct 20.674.53 75 1.240 Mar 24.193 Total 270.025.753 Aug 11.32 75 1.036 Nov 22.674.674.443 Aug 10.29 75 1.674.51 80 1.32 75 1.000 1.49 14.522.P a g e | 88 Table 4-3 Pricing Product Year 2011 Product/Month Cost of material (ton) Price (Baht) Total Product/Month Cost of material (ton) Price (Baht) Total Product/Month Cost of material (ton) Price (Baht) Total Product/Month Cost of material (ton) Price (Baht) Total Product/Month Cost of material (ton) Price (Baht) Total Jan 14.841.383.072.99 80 1.664 Nov 27.51 80 1.080.000 1.240 Apr 24.000 1.56 75 1.036 Jan 22.830 May 11.000 2.29 75 1.830 Total 202.240 Nov 24.16 80 1.000 1.000 959.072.841.036 Apr 22.025.830 Apr 17.522.000 1.522.662.

000 Baht KVA Insurance Cost = Guarantee for debt power.000 Baht More than 200 A equal to 40.000 Baht High voltage meter.htm) . We estimate electric power in the factory.co.000 Baht More than 30 A equal to 20. System under 69 KVA Individual transformer.000 Baht 108.000 Baht 4 Baht per KVA but Under 50.th/th/services/services_fee_rates. We use system under 69 KVA**** Configuration Cost (Under 200 A) Inspection Cost (More than 30 A) Insurance Cost (assume 10 KVA) Total Cost per transformers Total Cost of fees for electricity 30.pea. Configuration Cost = The cost of providing meter installation and operation.000 Baht 4. Individual transformer think 4 Baht per KVA System more than 69 10.000 Baht = The cost of investment in the power transformer to provide power = The cost of send someone to check the wiring already in ther user’s (Source: http://www. ****2 Transformers (1 KVA -1 MVA). Average Cost user that Light.1 Cost of request Electric and Water  Electric Request the power from Provincial electricity authority.4 Preopening cost 4.000 Baht 20. Inspection Cost files. Do not think the average. EXHIBIT 4-1 The Free rate for electricity Average Cost(Baht) Insurance Cost (Baht) Configuration Inspection Cost (Baht) Cost (Baht) Under 200 A equal to 30.P a g e | 89 4. Request 2 transformers (1 KVA -1 MVA).000 Baht 54.000 Baht Under 30 A equal to 15.4. and officer.

From water meters to connection the pipe.500 2.000 15. User will receive a full deposit returned upon termination of water and no debt outstanding water bill. We estimate electric power in the factory. Deposit Cost = the applicant must pay for PWA on request install to be use in the survey location and estimating the cost of installation. When the PWA receives labor and equipment supply cost for installation already. plumbing and other devices that use to installing. .000 10.000 10.600 4.700 Total 4. EXHIBIT 4-2 The Free rate for using water Water Meter Size(Inch) ½ ¾ 1 1½ 2 2½ 3 4 6 8 Deposit Cost (Baht) Not collected Not collected 1. water meters cost.P a g e | 90  Water Request the water from the Provincial Waterworks Authority.500 4.000 Labor and Equipment Cost (Baht) 3.000 20. Request 1 water meters. PWA will return the deposit cost immediately.000 1.100 5. About installing water meters is not over Diameter ¾ inches and the distance from the main water distribution pipes less than 10 meters will pay the price including VAT already.000 4.700 Expense estimates. Labor and Equipment Cost = There are labor cost. Deducted by estimate cost that user paid already.500 3.000 20.000 5. This doesn’t include pipe and equipment after the water meters that applicant must be due by them self.000 Insurance Cost (Baht) 500 1.000 4.000 1.000 30. Insurance = PWA charged according to size water meters to secure the payment of water bill each month.000 21. and officer.

000 Baht each set.000 Baht 10.000.000. The rate is following Registration Rate from Department of Business Development.th/mainsite/index.000 Baht.500 Baht ******* Total Cost of request Electric and Water 132.000 Baht Registered capital of 100.co.000 baht equivalent).000 5.3 and No.pwa.000 500 250.P a g e | 91 ****1 Water Meters size 3 inch**** Deposit Cost Insurance Cost Labor and Equipment Cost Total Cost of frees for using water 5.000 Baht : According to No.000 Baht 110. Capital more than 50.4. Registered prospectus Incorporated company Total 10.go.dbd.000 Baht each set.000 .000 Baht 100.500 Baht ******** (Source: http://www. EXHIBIT 4-3 The company limited registration Fee rate Description Registered prospectus: Capital not exceeding 1.500 Baht 24. (Fraction of the 100.000.000 Baht equivalent).4 of ministerial regulations The capital of all partners combined approximately 20.2 Prepare to be company limited For our business the first step we need to have a Memorandum.000.000 Baht Incorporated company: Capital not exceeding 1.000 Baht to 100.000 Baht Registered capital of 100. (Fraction of the 100.php?id=1638 ) Baht 500 50 25.000.th/service/newuser.html) 4.000 Baht 9. Capital more than 50.000 Baht (Source: http://www.000 Baht to 100.

The mortgage (If mortgages from financial institutions) Stamp Duty (Pay one between stamp duty or specific business) Specific business Duty (Don’t pay if holding more than five years) 1% of price (no less than at market prices commerce) 2% of market prices commerce or price of sell up on what price is higher 1% of value of the mortgages 200 Baht for 1 Baht of Stamp Duty(0.th/land-info-top-3.4.4.000 Baht 64.php?lay=show&ac=article&Id=538974919&Nty pe=19) 4.000 Baht 30.3 Fees for the establishment of the factory Following the factory act.450. 1992 Application for permit Permit Substitutes permit Fees factory operation (per year) Total 100 Baht 100.50%) following selling price but not less than market prices commerce) 3.000 Baht*** Corporate income tax Fee legal action The mortgage Stamp Duty Total Cost of Land Tax 64.co.500 Baht 32.4 Land Tax EXHIBIT 4-4 Charge at the Land Office if the Registrar Charges at the Land Office if the Registrar.000 Baht 131.3% of selling price but not less than market prices commerce) ***The cost of land is 6.500 Baht 129.land.com/index.thailandlawyercenter.asp) .250 Baht 290.250 Baht (Source: http://www.100 Baht (Source: http://www.000 Baht 1.P a g e | 92 4. Corporate income tax (withholding) Fee legal action (transfer fee).

No Thai characters .P a g e | 93 4.2.4.go.pdf) .5 Tax labels (per 500 square centimeters) EXHIBIT 4-5 Rate of Tax labels Style Thai characters are.000 square centimeters (120.thailocaladmin. Label changes to the label area of an image or mark some of the signs. Signs following .3 The case may be and pay especially the amount increased.000/500)*20 = 4. Already paid interest tax.800 Baht (Source: www.th/work/e_book/eb5/eb5_2/tax1. Thai characters mixed with the foreign language/images/other marks. of Factory label 120.Have some Thai characters or All of Thai Character below or under foreign language. Label is under 200 Baht to pay 200 Baht instead 200 Baht Baht 3 Baht 20 Baht 40 Baht Size 4*3 M. which cause the signs and banners to increase the tax rate by 1.

000 Baht (Source:http://www.000 24.go. 2004 Patent inventions Patent or petty patent Total 500 Baht 500 Baht 1.000 701. Following Ministerial on fees and fee waiver for a patent or petty patent Act.4.6 Trademark registration fee.000 131.P a g e | 94 4.th/ipthailand/index.650 .250 4.800 1.500 110.ipthailand.7 Total Cost of Pre Opening Cost Table 4-4 Total Cost of Pre Opening Cost Pre Opening Cost Cost of request Electric and Water Electric Water Prepare to be the Company limited Fees for the establishment of the factory Fees for requesting permission of the foreign business for investor Land Tax Tax labels Trademark registration fee Total Baht 108.100 32.php?option=com_content&task=view& id=817&Itemid=303) 4.4.000 290.

5.5. He sell for 600. Sainatee who is the owner by phone number 085-6664996.2 Building Thai-North Rubber will hire the constructer to design and advice us to build the factory. We choose to contract with Mr.com_fireboard /Itemid.3 Acers. (Source: http://www.000 baht.view/id.56/func. This land is located near the Chianhkhong’s friendship bridge 4th only 1-2 kilometers.com/component/option.000. . By refer the information from Department of Industrial Promotion.5 Operating investment cost /Operating expense 4.3 Acers (10Rai 3Ngan).000 Baht. He calculates for our investment 7.P a g e | 95 4.We will pay for land 6.000 Baht per Rai that all of we buy equal to 4.30261/) 4.450.68072/catid.baanok. And we contract with Mr.1 Land We decision to buy the land all of 4. Suvin who is the professional.

contact with customer. .3 Features and Dimension All of our areas are divided into two zones.5.1 Manufacturer zone Our production is provided into three parts which are Rubber Smoked Sheet (RSS) products.5.3. EXHIBIT 4-6 Total Areas of Company 4. We allocate to each zone because of comfortable for easy to service. there are the zone of manufacture and administrative zone. control and operation in production. Block Rubber (STR) products and Rubber Testing Lab. In all of Rubber Smoked Sheet (RSS) Product and Block rubber (STR) product are related in production together which makes we have production in the same area into this zone and one part for Lab testing.P a g e | 96 4.

5. 4. 6. Latex tank Latex bin Cutting machine Rubber bin Bar presses Crepe rubber machine 7. 3. 10. 13.P a g e | 97 EXHIBIT 4-7 Manufacturer Zone 1. 2. 11. 12. Vinyl rubber Bin to clean rubber Rubber rolling machine Gutter cleaning rubber Water tank Eauong mortar . 14.

And we have 3 people are lab staff and 2 people are maintenances.000 1 200.000 2 60.4 Operating investment cost In the production.060 Baht.800 Baht. . Item Picture Price (Baht) 14. All of this we can calculate the number of money with is 446.500 2 37. So.068.800 1 Eauong mortar as 50 pieces 4 2 Rubber rolling machine 8.000 5 Bar presses 200.500 8 68.P a g e | 98 4.diw. we use many of merchandise to take products.000 6 Cutting machine 25.000 1 25.th/I_Standard/Web/pane_files/Industry12. EXHIBIT 4-8 Merchandise Cost No.go.com/index.php?langtype=th&pageid=th_40 http://www2.000 3 Crepe rubber machine 30.000 4 Vinyl rubber 18.yongfongthai.200 Amount Total (Baht) 56. we take money for their about 1.800 (Source: http://machine.5.asp) Within the Lab room and production process are have many of equipment to concern.000 Total 446.

560** 156. In 5 years we will take for the set of test substance solution ZnO Easy Kit 1.psu. Laboratory state 100 1.900 8 Printer 1.000 Baht to pay for **we take 26 days for working in month. Item Picture Amount 1 Set of test substance solution TMTD Easy Kit Set of test substance solution ZnO Easy Kit.infinity-office.th/node/947 .690 6 Desktop PC(Lab staff 3) Air condition 27.900 1 13.000 1 25. www.700 7 13.000 Baht to pay for (Source: http://www.560 sets.080*** 604.345 2 6.300 4 Desk set 3 seats(Lab staff 3) 25.ac.900 3 83.300 1 20. Firewood per month 2 10.com .560 sets.068.670 9.techno.560* 156.060 *we take 26 days for working in month.com) .800*** Total 1. www.P a g e | 99 EXHIBIT 4-9 Equipments within Lab room Price (Baht) Total (Baht) No. www.000 * 2 100 1.670 1 1.kssfurniture.000 5 Desk 3.com . we will use 156. In 5 years we will take for the set of test substance solution TMTD Easy Kit 1. we will use 156.000** 3 20.

P a g e | 100 4.000 Baht 1. in 5 years we will pay for them which 7. They are working 8 hours in one day and take with 26 day per months.000Baht per year.5. Water Fee and From the information in Department of Industrial Promotion. Minimum wage in Chiangrai 166 Baht/Day or 4. Lab staff salary 2.000 per Month (Source: Department of Industrial Promotion)  Worker Salary Our manufactory has workers with 30 people in every line of production.com/news/news_thailand_detail.768.aspx?c=2&d=117291&p=4)  Electricity Fee. Maintenance staff salary 15.000Bah per year and Water free around 60.140. So.000 Baht×2 or 24.000 per Month 12.5 Production cost  Lab Staff and Maintenance Staff Salary In the Lab room. (Source: Department of Industrial Promotion) . we can estimate the cost of electricity free around 120. We will pay money for them with 26 days working per months for 5 years.316 Baht/Month (Source: http://www.800 Baht 1. So. we will take money for all of salary in 5 years about 4.000 Baht×3 or 45.ch7. we have Lab staff 3 people and 2 of Maintenance staff.

000 Baht per year and cost of maintenance machine around 168. we can estimate the cost of maintenance building around 540.052Baht per year.P a g e | 101  Expense of maintenance building and machine From the information in Department of Industrial Promotion. (Source: Department of Industrial Promotion)  Lubricant expense From the information in Department of Industrial Promotion.000 Baht per year. we can estimate the cost of maintenance building around 60. .

480 10.000 540.000 129.000 18.000 Nov 45.480 10.480 10.000 18.808 .000 Sep 45.000 250.000 24.000 18.000 129.484 14.000 24.000 540.000 Apr 45.000 60.480 10.004 5.000 5.000 5.000 250.484 Totals 540.000 24.000 250.000 Jul 45.000 129.004 5.553.760 120.000 24.000 250.004 5.000 129.000 129.484 14.000 250.000 5.P a g e | 102 Table 4-5 Operating expense in year 2011 Operating cost : Baht Expense Lab staff salary Maintenance salary Firewood Worker salary Electricity fee Water fee Maintenance building Maintenance machine Lubricant Total 14.004 5.000 Dec 45.000 5.545.000 3.004 5.048 60.000 24.000 129.000 250.000 288.000 Aug 45.000 5.000 24.000 129.484 14.484 14.000 24.000 250.000 18.000 250.480 10.000 790.000 216.480 10.000 24.000 5.480 10.000 5.000 5.000 5.000 129.000 250.000 Jun 45.480 10.000 129.484 14.000 18.480 10.000 24.000 18.000 24.484 14.000 18.000 250.004 5.000 18.484 14.004 5.000 24.000 250.000 1.000 129.000 5.484 14.484 Jan 45.000 168.000 Mar 45.000 May 45.000 14.480 10.004 5.480 10.000 Oct 45.000 18.000 Feb 45.000 5.004 5.000 18.000 5.484 14.000 18.000 18.000 129.004 5.004 5.480 10.484 14.004 5.000 129.000 24.

000 540.564 Totals 540.048 60.000 24.004 5.000 24.000 5.000 242.000 5.480 10.080 129.480 10.000 242.080 129.760 120.000 24.564 14.480 10.000 24.080 129.000 10.000 24.768 .553.004 5.080 129.000 Dec 45.004 5.480 10.000 10.000 Feb 45.000 242.000 24.000 10.000 5.480 10.080 129.004 5.000 Jun 45.080 129.004 5.080 129.564 14.000 Sep 45.564 14.004 5.000 242.000 24.000 242.080 129.000 5.000 Aug 45.000 10.000 242.000 Mar 45.000 242.000 242.564 14.000 120.P a g e | 103 Table 4-6 Operating expense in year 2012 Operating cost : Baht Expense Lab staff salary Maintenance salary Firewood Worker salary Electricity fee Water fee Maintenance building Maintenance machine Lubricant Total 14.000 10.000 10.000 5.480 10.000 10.450.480 10.000 10.004 5.480 10.004 5.080 129.000 242.000 60.000 5.000 5.004 5.000 242.004 5.000 24.480 10.000 5.000 10.000 168.000 May 45.000 24.000 14.080 129.000 Nov 45.564 Jan 45.000 5.000 Apr 45.000 24.564 14.000 540.000 3.000 24.480 10.564 14.000 5.480 10.564 14.960 1.080 129.000 Jul 45.080 129.004 5.000 242.000 24.000 5.564 14.480 10.000 288.004 5.564 14.000 5.000 10.000 10.000 10.000 782.564 14.000 Oct 45.

000 Mar 45.480 10.000 242.000 24.000 5.000 5.480 10.480 10.000 10.080 129.000 242.000 24.004 5.000 5.000 24.000 Aug 45.000 24.000 10.000 540.000 242.000 10.450.000 288.000 5.004 5.000 5.004 5.000 May 45.000 24.080 129.000 540.480 10.080 129.000 242.564 14.004 5.000 3.000 10.553.004 5.480 10.000 242.564 .000 10.080 129.048 60.080 129.480 10.000 24.000 Dec 45.000 Oct 45.000 242.000 Feb 45.000 168.000 242.000 24.000 Sep 45.564 14.000 Jul 45.004 5.000 242.080 129.080 129.564 14.480 10.000 5.P a g e | 104 Table 4-7 Operating expense in year 2013 Operating cost : Baht Expense Lab staff salary Maintenance salary Firewood Worker salary Electricity fee Water fee Maintenance building Maintenance machine Lubricant Total Jan 45.000 24.004 5.000 242.000 5.960 1.564 14.004 5.480 10.480 10.000 10.000 5.000 60.000 10.000 242.000 Apr 45.000 24.000 5.480 10.768 14.080 129.000 242.000 5.080 129.564 14.760 120.564 14.080 129.000 24.004 5.000 10.004 5.480 10.000 782.004 5.000 Nov 45.000 5.000 10.564 14.564 14.000 24.000 24.004 5.080 129.000 5.000 Totals 540.080 129.000 10.564 14.000 10.000 Jun 45.564 14.000 120.564 14.480 10.000 10.

004 5.000 5.000 10.080 129.000 Feb 45.080 129.004 5.564 14.000 May 45.004 5.000 10.000 24.480 10.768 .000 242.000 24.000 242.000 24.000 5.000 10.080 129.000 24.480 10.564 14.000 10.000 242.450.564 Jan 45.000 540.564 14.080 129.000 5.000 242.564 14.564 14.480 10.004 5.P a g e | 105 Table 4-8 Operating expense in year 2014 Operating cost : Baht Expense Lab staff salary Maintenance salary Firewood Worker salary Electricity fee Water fee Maintenance building Maintenance machine Lubricant Total 14.080 129.564 Totals 540.564 14.000 782.000 242.000 242.000 24.000 5.480 10.564 14.960 1.000 10.080 129.000 24.480 10.000 Dec 45.000 10.004 5.000 14.000 Sep 45.760 120.000 5.000 120.004 5.048 60.480 10.080 129.000 242.004 5.080 129.564 14.000 24.000 Nov 45.000 5.004 5.000 24.000 242.004 5.000 10.004 5.480 10.080 129.080 129.000 Jun 45.000 60.000 5.000 5.564 14.000 24.000 3.000 10.564 14.480 10.000 540.000 Aug 45.000 10.000 288.000 24.000 Jul 45.000 10.000 5.000 242.000 Oct 45.080 129.000 24.000 Apr 45.000 5.000 242.080 129.000 5.000 242.000 10.000 24.000 10.480 10.480 10.000 Mar 45.553.004 5.000 5.480 10.004 5.000 168.480 10.

000 5.480 10.080 129.564 14.000 10.480 10.000 5.000 24.480 10.080 129.000 5.000 242.000 10.564 14.564 14.000 10.000 5.553.000 242.000 Apr 45.004 5.004 5.768 .564 14.000 242.564 14.000 24.000 540.564 Totals 540.000 10.000 242.000 5.000 10.004 5.000 24.000 5.000 24.000 24.564 14.004 5.000 Nov 45.000 10.004 5.000 Dec 45.000 Mar 45.000 60.000 24.000 242.004 5.080 129.450.000 120.080 129.564 14.000 24.000 5.564 14.000 Aug 45.480 10.480 10.000 540.080 129.000 May 45.004 5.000 24.048 60.564 14.000 288.000 5.000 14.080 129.080 129.000 10.000 Jul 45.080 129.480 10.960 1.000 5.000 5.000 Feb 45.480 10.004 5.080 129.P a g e | 106 Table 4-9 Operating expense in year 2015 Operating cost : Baht Expense Lab staff salary Maintenance salary Firewood Worker salary Electricity fee Water fee Maintenance building Maintenance machine Lubricant Total 14.000 10.000 242.480 10.480 10.000 3.480 10.000 242.000 242.000 24.004 5.000 782.000 242.564 14.000 24.000 Oct 45.000 5.000 5.480 10.000 10.000 168.000 Sep 45.004 5.080 129.000 10.480 10.000 Jun 45.000 242.000 10.000 24.000 24.564 Jan 45.080 129.004 5.000 242.000 10.080 129.004 5.760 120.

It is including Latex. which party will pay on the transportation cost. Inbound: In domestic.6.P a g e | 107 4. It up on the agreement between the supplier and manufacture.1 Logistic Management We are also divided over the transport into two periods are inbound logistic and out bound logistics 1. . start from the supplier around Chiang Rai send the raw material to us.6 Logistics and Transportation cost 4.

Our company delivers when the goods pass the ship’s rail at the named port of shipment. Chiang Khong Port is situated on the bank of Mekong River. After that the Agent will inform to port know. (Source: http://www1. When the full amount and then close. This means that the customer has to bear all costs and risks of loss or damage to the goods from that point and responsible for all the costs incurred after the cargo has been loaded on board.port. Out bound: Our Company sends finished goods to customers in China. There are 3 group each group have 15 people for packing product in to container frame roof (CNTR). People's Democratic Republic of Laos. Goods will transport from the storage in a boat by using Fork Lift. Distance is 1-2 km.html) .P a g e | 108 2. The berth is width 24 meters and length 180 meters. Bor Kaew District. We transport from manufacture (A) to Chiang Khong Port (B). The front of the port is adjacent to the Mekong River opposite of Moueng Houy Sai. Start from transportation Rubber (Bale) from truck to store goods in storage. Chiang Rai Province.co. Fuel oil: Biodiesel. Loading: 21 tons. Our company has the condition with customer that international shipments typically use FOB or Free on Board. Transport by truck Diesel Tenwheel. Chiang Khong District. And loading on vessel.th/ckp/eng/dataset1/data2. On the back is the road linking Chiang Saen and Chiang Kong Districts.

574.Do not notify every run. Capital 1.659 Insurance: Our Company chooses deal business with Mittare Insurance Co. .Protection of the full year.686.831.801.015 849.145.061 1.495 1.982.th/product-th-353965-1647870 ) . .944 2.398.Does not cover products that are illegal or high risk.638.216 934.213 2..594 2014 34.260.perfect-broker.000 Baht or 10% of damage.449 2013 31.180. .539 2.740.114. Trainer protected container. .co.027.500 Baht/Year Detail: Cargo insurance in the country.435 2.768.500.593 2.Suitable for car truck tractor that runs offshore shipping.P a g e | 109 4.Unlimited number of flight.598 3.426.045 2012 28.6. The case of an accident condition: -10.000 per year.450 1.378 3. Cost: 17. -Do not notify the cabinet product. (Source: http://www.831 772. Table 4-10 Total Taxes Year Sale Forecast (price) VAT 7% Withholding 3% Total Per: Baht 2011 25.238 1.054 2015 37.130.816 3.Consumer protection online. . Ltd.314. .2 Inventory management Taxes: VAT 7% and withholding of 3 % per Year.

500 3.500 2.084 Cost/Baht -13.114.449 17. So we don’t have any cost of relocation.045 17.132.500 3.P a g e | 110 Table 4-11 Inventory Service Costs Year Taxes Insurance Total Per: Baht 2011 2. (Source: http://logistics. Our products are Block rubber and rubber smoked sheet don’t have any cost of obsolescence. We don’t have Relocation Cost because our company has only one warehouse near manufactory.159 Table 4-12 Warehousing Cost Description Capital Costs (opportunity cost of capital) Inventory Risk Costs Obsolescence Damage Cost Shrinkage Cost Relocation Cost Total Cost Per: Month Note: Capital Cost or Opportunity cost of capital is not including in accounting because it is not the real cost that we expense.594 17.000- .054 17.591.arch56.786.084 0 12.659 17.848.com/?tag=public-warehouse-cost) 0 10.545 2012 2.768.831.574.443.500 2.426.554 2015 3.500 3.949 2013 3.450.000 2.094 2014 3.

084 228.245 1.800 445 2.291 230.962 12.800 509 2.300 1.084 228.962 12.962 12.046 215.314 230.962 12.084 228.046 215.084 228.291 230.6.962 12.962 12.962 12.962 12.800 445 2.800 509 2.245 1.3 Total Logistic Table 4-13 Total Logistic Cost.346 230.351 230.356 Per: Baht .084 228.305 1.351 230.046 215.309 215. 2011 Description Inventory Carrying Cost Taxes and insurance Warehousing Subtotal Transportation Costs Motor Carriers : Truck-Local (Diesel Ten-wheel) Tariff of Chiang Khong Port Subtotal Logistics Administration Total logistics 230.962 12.300 1.962 12.309 1.084 228.268 1.084 228.P a g e | 111 4.084 228.084 228.046 215.291 1.962 12.268 1.800 445 2.800 500 2.046 215.046 215.800 468 2.046 215.962 12.084 228.291 230.800 500 2.356 230.046 215.046 215.084 228.305 1.046 215.046 215.046 Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec Not Including 230.084 228.245 1.800 505 2.800 505 2.800 445 2.800 468 2.314 230.245 1.346 230.

800 528 2.328 1.723 251.084 249.800 528 2.824 251.800 528 2.412 12.496 1.496 237.328 1.412 12.412 12.496 237.084 249.412 12.496 237.723 251.496 237.800 426 2.496 237.084 249.412 12.084 249.800 528 2.226 1.412 12.412 12.084 249.824 251.824 251.723 251.496 237.412 12.800 426 2.412 12.824 251.328 1.084 249.328 1.800 528 2.328 1.226 1.496 237.800 528 2.496 237.824 251.084 249.226 1.800 426 2.800 426 2.412 12.084 249.084 249. 2012 Description Inventory Carrying Cost Taxes and insurance Warehousing Subtotal Transportation Costs Motor Carriers : Truck-Local (Diesel Ten-wheel) Tariff of Chiang Khong Port Subtotal Logistics Administration Total logistics Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec 237.800 528 2.P a g e | 112 Table 4-14 Total Logistic Cost.496 237.824 251.084 249.412 12.412 12.496 237.328 1.328 Not Including 251.496 237.084 249.824 Per: Baht .226 1.824 251.084 249.800 528 2.723 251.328 1.

800 548 2.092 261.348 1.328 275.092 261.092 261.328 275.092 1.084 273.092 261.237 1.084 273.348 1.440 275.800 548 2.237 1.440 275.440 Per: Baht .008 12.800 548 2.092 261.084 273.008 12.440 275.008 12.800 548 2.084 273.800 437 2.084 273.800 548 2.800 437 2.328 275.008 12.800 437 2.008 12.092 261.237 1.084 273.008 12.237 1.800 548 2.348 1.084 273.008 12.084 273.084 273.348 Not Including 275.440 275.008 12.440 275.328 275.800 437 2.348 1.348 1.440 275.008 12.348 1.800 548 2.008 12.092 261.092 261.092 261.P a g e | 113 Table 4-15 Total Logistic Cost.008 12. 2013 Description Inventory Carrying Cost Taxes and insurance Warehousing Subtotal Transportation Costs Motor Carriers: Truck-Local (Diesel Ten-wheel) Tariff of Chiang Khong Port Subtotal Logistics Administration Total logistics Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec 261.084 273.092 261.440 275.084 273.092 261.008 12.084 273.348 1.800 548 2.

963 12.084 299.084 299.P a g e | 114 Table 4-16 Total Logistic Cost.196 3.047 286.084 299.242 Per: Baht .196 1.084 299. 2014 Description Inventory Carrying Cost Taxes and insurance Warehousing Subtotal Transportation Costs Motor Carriers: Truck-Local (Diesel Ten-wheel) Tariff of Chiang Khong Port Subtotal Logistics Administration Total logistics Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec 286.196 Not Including 303.600 596 4.248 1.084 299.295 301.047 286.248 1.295 301.600 596 4.047 286.047 286.196 3.047 286.800 448 2.242 303.600 596 4.248 3.242 303.242 303.963 12.963 12.963 12.600 596 4.047 286.047 286.047 3.963 12.242 303.963 12.800 448 2.196 3.963 12.084 299.084 299.242 303.047 286.800 448 2.248 1.084 299.047 286.963 12.295 301.963 12.047 286.242 301.800 448 2.963 12.196 3.600 596 4.196 3.084 299.084 299.963 12.047 286.196 3.295 303.600 596 4.242 303.600 596 4.084 299.963 12.600 596 4.084 299.

260 3.597 315.220 Not Including 331.513 12.600 620 4.513 12.600 620 4.800 460 2.513 12.513 12.817 331.600 620 4.084 327. 2015 Description Inventory Carrying Cost Taxes and insurance Warehousing Subtotal Transportation Costs Motor Carriers: Truck-Local (Diesel Ten-wheel) Tariff of Chiang Khong Port Subtotal Logistics Administration Total logistics Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec 315.597 315.084 327.857 329.084 327.857 329.220 3.084 327.597 315.513 12.817 331.600 620 4.817 Per: Baht .084 327.600 620 4.800 460 2.513 12.800 460 2.P a g e | 115 Table 4-17 Total Logistic Cost.800 460 2.817 331.597 315.600 620 4.513 12.260 1.513 12.817 331.220 1.260 1.084 327.597 315.084 327.084 327.220 3.597 315.857 329.084 327.600 620 4.597 315.220 3.084 327.597 3.260 1.857 331.597 315.817 331.513 12.597 315.817 329.513 12.600 620 4.597 315.084 327.220 3.220 3.220 3.597 315.513 12.513 12.817 331.084 327.

th/ckp/eng/dataset5/data1.3.. The rates that we agree are Diesel Ten-wheel capacity 22 tons per times to be cost 1.co.P a g e | 116 4..Baht/Tonne/m3 (Source: http://www1.. Our company transportation goods by pass Chiang Khong Port (Port Authority of Thailand) We have cost of Tariff for transportation: 1.port. Ltd. Charges Against Shipowners. each month we separate to two times on second week and last week of month for transport the product to the Chiang Khong Port.Cargo Loading or Discharging Free Conventional cargo 3. Charges Against Consignees. Vechicles Adminission Fee .6.800 Baht. Consignors or Applicants .Baht/Unit 10.1 Transportation Costs of Truck-Local (Diesel Ten-wheel) For transportation. Our company deal with Golden lake Co.Baht 2. . Ship’s Agents or Applicants Vessel of over 100 GT 300.3.html) 4.6..2 Logistics Administration Cost of Logistics Administration is including with Administration Cost.Fee for vehicle loading or discharging within Chiang Khong Port 8-10 Wheel Truck 25.

P a g e | 117 4.7.7 Administration cost 4.1 Organizational structure Figure 3-4 Organization Structure .

co.000 20.000 20. living room.2 Administration Expense  Employee salary 1 person 1 person 1 person 1 person 2 person (2*12.There are 1 housekeeper and 1 diver.th/uploads/Knowledge-Center-Thought- General Manager Office Manager Plant Manager Logistic manager Sale and Marketing department IT support department Logistic department Export department Accountant department Housekeeper Driver Security guard Total Leadership/Thailand-Salary-Guide/Adecco-Thailand-Salary-Guide-2011.000) 1 person 1 person 2 person (2*8.000) EXHIBIT 4-10 Wage rate for our organization 30.3 Administration Zone This is Administration zone there are 7 employees (there are 3 private rooms for executive included 4 employees).7.000) 2 person (2*12.7.000 12.adecco. and canteen In outside area there are 2 sentry boxes in front of entrance door and exit door.000 24.000 12.000 20.000 20.P a g e | 118 4.000) 1 person 2 person (2*12.000 231.000 17.000 8.000 24.000 (Resource: http://www. .500) 4 person (2*5.pdf) 4. The administration zones have 1 small meeting room.000 24. Toilet.

155 .500 Amount Total (Baht) 206.976 Baht.520. All of this we can calculate the number of money with is 2.165 7 71.500 1 Desk 7 2 Desktop PC 10.P a g e | 119 EXHIBIT 4-11 Administration Zone Storeroom Storeroom Toilet  Office equipments In the office. we use many of equipment to operation. EXHIBIT 4-12 Office Equipments Cost No. Item Picture Price (Baht) 29.

260 8 Printer 1.800 10 Set up cost(Air) 2.400 3 Telephone 4 4 Stationery 1.750 5 A4 paper 10 10 550 5.900 12.100 Amount Total (Baht) 12.000 1 15.600 10 66.000 15 Sofa 12.900 13 Loudspeaker 12.000 Projector 89. Item Picture Price (Baht) 3.200 1 12.789 17 Flower 120 4 480 .250 7 8.500 2 5.900 2 27.900 1 14 Microphone 6.670 2 3.200 16 Table 3.900 1 89.P a g e | 120 No.500 6 Ink 75 750 7 Receipt paper 105 12 1.340 9 Air condition 13.789 1 3.000 11 12 Table 15.

Item Picture Price (Baht) 440 Amount Total (Baht) 440 18 Carpet 1 19 Disk rack 1.990 1 3.125 21 Glasses 15 12 180 22 Table 5.600 23 Refrigerator 8.800 2 11.689 1 1.P a g e | 121 No.190 1 8.689 26 Mirror 680 1 680 27 Box 320 1 320 28 Sink 750 1 750 29 Douche 180 1 180 30 Shelf 650 1 650 31 Broom 250 1 250 32 Mop 650 1 650 .190 24 Sink 3.990 25 Lavatory 1.279 2 2.558 20 Disk 225 5 1.

000 Amount Total (Baht) 100.520.co.000 33 Vigo car 1 34 Van 1.000 Amount Total (Baht) 607.http://www. Item Picture Price (Baht) 50. EXHIBIT 4-13 Guardhouse Equipment Cost No.800 Baht for.000 1 1.338.com/index. Item Picture Price (Baht) 607.976 Guardhouse equipment In the part of Administration zone are include with guardhouse in enter and exit way.P a g e | 122 No.800 103.th/products.cetechgroup. .000 1 Guard ready-made 2 2 Traffic cone Total 380 10 3. We choose to take the guard ready-made.000 Total 2.php.php?lay=show&ac=article&Id=573945&Ntype=2) .topvictorystar.800 (Source: http://www.338. We will pay 103.

1 Administration Expense EXHIBIT 4-14 Administration Expense Description Employee Salary Telephone and Internet expense Electricity expense Water expense Stationary expense Gasoline Expense Car insurance Fire insurance Machine insurance Social security insurance 17.go.89/month 500/month 8.525/y 5.th) .tninsure.dpu.mwa.571.co.P a g e | 123 4.th : Water expense: http://www.html : Car insurance: www.th/ : Fire insurance: http://www.com : Social security insurance: http://www.3.750/ 3 month 5.sso.545/y 2.ac.600/y Base (Source: Telephone and Internet expense: http://www.co.dhipaya.viriyah.000/y 33.550/month 7.000/month 7.th/water_calculation.th/ : Electricity expense: http://www.3bb.th : Machine insurance: http://www.7.co.co.

622 Apr 231.000 8.545 2.572 500 8.372 Nov 231.600 90.000 33.000 261.750 5.000 17.000 17.000 261.750 5.372 May 231.228.372 Aug 231.550 7.000 60.000 17.572 500 8.550 7.572 500 5.000 17.000 17.572 500 5.545 2.000 17.000 7.000 17.750 5.133 .772.000 17.000 210.000 5.550 7.000 17.000 17.042 Jan 231.572 500 5.000 33.572 500 5.600 324.622 Mar 231.525 5.622 Jul 231.572 500 5.622 Dec 231.572 500 8.000 261.000 7.042 Feb 231.P a g e | 124 Table 4-18 Administration cost 2011 Administration cost Base Employee Salary Telephone and Internet expense Electricity expense Water expense Set up air-condition expense Stationary expense Gasoline Expense Car insurance Fire insurance Machine insurance Social security insurance Total 231.545 2.000 17.000 17.550 7.572 500 5.863 6.572 500 5.572 500 5.525 5.000 17.550 7.000 270.550 7.000 261.550 7.622 Oct 231.622 Total 2.622 Sep 231.550 7.572 500 5.000 33.622 Jun 231.525 5.000 7.572 500 5.600 324.000 261.550 7.550 7.000 261.600 3.000 35.750 5.550 7.750 5.000 8.000 270.550 7.000 261.000 261.550 7.000 270.

622 May 231.550 7.000 17.000 17.622 Aug 231.000 17.525 5.000 261.000 0 35.000 17.000 17.572 500 5.000 261.000 261.000 33.550 7.000 261.622 Dec 231.572 500 5.000 33.000 17.772.000 210.550 7.372 Jul 231.622 Mar 231.622 Nov 231.545 2.750 5.000 60.545 2.550 7.622 Sep 231.572 500 5.863 6.000 8.000 261.600 90.550 7.750 5.572 500 5.572 500 5.750 5.550 7.000 17.000 270.572 500 8.572 500 5.545 2.600 319.600 3.000 17.550 7.000 17.550 7.000 261.372 Apr 231.572 500 8.000 17.572 500 5.042 Jan 231.133 .000 270.223.000 261.000 33.550 7.000 17.550 7.550 7.000 7.550 7.525 5.622 Jun 231.750 5.622 Feb 231.000 7.525 5.550 7.042 8.000 261.000 270.572 500 8.572 500 5.372 Oct 231.P a g e | 125 Table 4-19 Administration cost 2012 Administration cost Base Employee Salary Telephone and Internet expense Electricity expense Water expense Set up air-condition expense Stationary expense Gasoline Expense Car insurance Fire insurance Machine insurance Social security insurance Total 231.000 7.572 500 5.572 500 Total 2.000 17.600 324.750 5.000 17.

550 7.572 500 8.572 500 Oct 231.000 17.750 5.622 May 231.P a g e | 126 Table 4-20 Administration cost 2013 Administration cost Base Employee Salary Telephone and Internet expense Electricity expense Water expense Set up air-condition expense Stationary expense Gasoline Expense Car insurance Fire insurance Machine insurance Social security insurance Total 231.000 261.000 17.572 500 8.042 Jan 231.000 33.000 17.042 5.572 500 Jul 231.863 6.750 5.600 324.372 5.000 17.750 5.000 270.000 17.622 Feb 231.000 210.000 17.550 7.372 5.000 261.750 5.600 90.550 7.622 Dec 231.622 Jun 231.000 17.600 319.550 7.525 5.000 17.000 261.000 0 60.000 17.622 Nov 231.622 Mar 231.572 500 5.550 7.572 500 Total 2.622 Sep 231.000 35.000 270.550 7.550 7.000 270.000 261.000 261.550 7.000 33.572 500 Apr 231.000 7.000 17.000 261.550 7.000 17.223.000 7.000 261.525 5.372 5.000 261.000 5.525 5.550 7.572 500 5.550 7.545 2.750 5.000 7.545 2.572 500 5.545 2.000 17.572 500 5.572 500 8.622 Aug 231.600 3.000 33.572 500 8.572 500 8.000 17.550 7.772.550 7.133 .

622 Aug 231.572 500 8.622 Dec 231.525 5.000 270.545 2.000 261.550 7.572 500 5.000 17.000 7.622 Sep 231.600 319.000 261.550 7.000 261.572 500 5.572 500 5.000 261.572 500 8.000 17.000 17.572 500 5.000 7.550 7.550 7.000 17.572 500 Total 2.750 5.133 .622 May 231.622 Jun 231.000 8.572 500 5.000 17.750 5.000 261.750 5.000 270.000 261.545 2.372 Apr 231.863 6.622 Feb 231.772.550 7.550 7.622 Nov 231.223.000 17.000 33.000 17.550 7.550 7.000 33.600 324.042 8.550 7.042 Jan 231.000 261.545 2.750 5.550 7.550 7.525 5.000 7.372 Jul 231.000 17.750 5.000 0 35.P a g e | 127 Table 4-21 Administration cost 2014 Administration cost Base Employee Salary Telephone and Internet expense Electricity expense Water expense Set up air-condition expense Stationary expense Gasoline Expense Car insurance Fire insurance Machine insurance Social security insurance Total 231.000 17.600 3.525 5.600 90.572 500 5.000 270.000 210.572 500 8.572 500 5.550 7.000 17.572 500 5.000 17.000 60.000 33.622 Mar 231.372 Oct 231.572 500 5.000 17.000 17.550 7.000 261.

000 60.000 17.550 7.000 33.000 17.622 Dec 231.000 17.042 8.772.622 May 231.000 261.000 17.042 Jan 231.372 Jul 231.525 5.622 Nov 231.622 Mar 231.550 7.000 17.545 2.000 270.000 17.750 5.572 500 8.572 500 5.572 500 5.572 500 5.000 8.550 7.572 500 5.000 210.372 Apr 231.600 319.372 Oct 231.000 261.000 17.750 5.000 270.525 5.000 261.P a g e | 128 Table 4-22 Administration cost 2015 Administration cost Base Employee Salary Telephone and Internet expense Electricity expense Water expense Set up air-condition expense Stationary expense Gasoline Expense Car insurance Fire insurance Machine insurance Social security insurance Total 231.000 17.622 Sep 231.622 Jun 231.000 7.600 324.600 3.000 261.550 7.550 7.000 17.572 500 5.550 7.000 261.550 7.000 17.622 Aug 231.600 90.550 7.550 7.550 7.000 17.000 261.000 261.750 5.000 17.750 5.572 500 Total 2.550 7.133 .572 500 8.622 Feb 231.550 7.000 33.545 2.000 270.863 6.572 500 5.572 500 8.000 7.525 5.572 500 5.223.572 500 5.750 5.000 0 35.000 17.572 500 5.550 7.000 33.545 2.000 7.000 261.

8 Depreciation cost Table 4-23 Depreciation cost 2011 Administration Office room Table Computer Telephone Printer Air Condition Meeting room Table Projector Loudspeaker Microphone Living room Sofa Table Canteen Refrigerator Disk rack Table Sink Amount 206.483 215 2.442 1.186 904 56 463 250 1.750 203 63 137 107 193 67 Nov 3.558 11.700 3.750 203 63 137 107 193 67 Feb 3.750 203 63 137 107 193 67 Sep 3.P a g e | 129 4.800 15.442 1.483 215 2.500 71.300 14.483 215 2.483 215 2.186 904 56 463 250 1.186 904 56 463 250 1.750 203 63 137 107 193 67 Jul 3.638 1.000 12.190 2.155 21.442 1.442 1.990 Jan 3.186 904 56 463 250 1.231 10.442 1.186 904 56 463 250 1.800 2.186 904 56 463 250 1.279 2.750 203 63 137 107 193 67 Jun 3.200 3.340 27.483 215 2.442 1.850 668 5.440 758 1.000 89.789 8.483 215 2.750 203 63 137 107 193 67 Mar 3.750 203 63 137 107 193 67 Dec 3.000 2.750 203 63 137 107 193 67 Aug 3.442 1.560 3.186 904 56 463 250 1.320 798 .483 215 2.483 215 2.186 904 56 463 250 1.750 203 63 137 107 193 67 Total 41.483 215 2.900 66.186 904 56 463 250 1.483 215 2.442 1.442 1.442 1.750 203 63 137 107 193 67 Oct 3.186 904 56 463 250 1.442 1.186 904 56 463 250 1.483 215 2.750 203 63 137 107 193 67 Apr 3.483 215 2.186 904 56 463 250 1.442 1.600 3.750 203 63 137 107 193 67 May 3.580 33.000 17.000 12.

117 10.941 23.667 2.941 23.667 121.667 2.117 10.941 23.230 1.000 287.941 23.made Total Amount Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec Total 1.667 2.667 2.760 20.117 10.941 23.230 1.230 1.117 10.230 1.000 100.117 10.667 2.941 23.982 23.667 2.680 680 320 750 180 650 28 11 5 13 8 11 28 11 5 13 8 11 28 11 5 13 8 11 28 11 5 13 8 11 28 11 5 13 8 11 28 11 5 13 8 11 28 11 5 13 8 11 28 11 5 13 8 11 28 11 5 13 8 11 28 11 5 13 8 11 28 11 5 13 8 11 28 11 5 13 8 11 336 136 64 150 90 130 607.230 1.117 1.941 .117 10.338.667 2.230 1.667 2.667 2.P a g e | 130 Administration Toilet Lavatory Mirror Box Sink Douche Storeroom Shelf Office Transportation Vigo car VAN Guard ready.000 2.000 10.230 1.941 23.230 1.941 23.288 2.941 23.941 23.230 1.117 10.667 2.230 1.117 10.230 1.230 1.667 2.604.941 23.117 10.400 26.117 10.117 10.

186 904 56 463 250 1.750 203 63 137 107 193 67 Oct 3.300 14.750 203 63 137 107 193 67 Total 41.483 215 2.442 1.750 203 63 137 107 193 67 Jun 3.186 904 56 463 250 1.750 203 63 137 107 193 67 Aug 3.186 904 56 463 250 1.442 1.560 3.442 1.800 2.186 904 56 463 250 1.200 3.483 215 2.483 215 2.750 203 63 137 107 193 67 Apr 3.483 215 2.580 33.700 3.638 1.320 798 .483 215 2.000 12.750 203 63 137 107 193 67 Feb 3.440 758 1.442 1.789 8.186 904 56 463 250 1.000 17.186 904 56 463 250 1.990 Jan 3.750 203 63 137 107 193 67 Nov 3.442 1.442 1.750 203 63 137 107 193 67 Jul 3.442 1.750 203 63 137 107 193 67 Sep 3.231 10.850 668 5.P a g e | 131 Table 4-24 Depreciation cost 2012 Administration Office room Table Computer Telephone Printer Air Condition Meeting room Table Projector Loudspeaker Microphone Living room Sofa Table Canteen Refrigerator Disk rack Table Sink Amount 206.750 203 63 137 107 193 67 Mar 3.900 66.000 12.483 215 2.483 215 2.442 1.500 71.442 1.186 904 56 463 250 1.483 215 2.442 1.186 904 56 463 250 1.483 215 2.000 2.000 89.483 215 2.750 203 63 137 107 193 67 May 3.750 203 63 137 107 193 67 Dec 3.442 1.600 3.186 904 56 463 250 1.186 904 56 463 250 1.483 215 2.279 2.155 21.186 904 56 463 250 1.558 11.190 2.483 215 2.340 27.442 1.800 15.186 904 56 463 250 1.

941 23.117 10.982 23.230 1.230 1.000 100.117 10.230 1.338.667 2.941 287.400 1.230 1.667 26.000 2.230 1.941 23.941 23.667 2.117 10.117 10.230 1.117 10.000 2.117 10.760 20.230 1.667 2.230 1.941 23.941 23.230 1.230 1.941 23.941 23.667 2.667 2.117 121.667 2.941 23.667 2.667 2.117 10.230 1.117 10.117 10.941 23.117 10.941 23.230 1.288 .667 2.680 680 320 750 180 650 28 11 5 13 8 11 28 11 5 13 8 11 28 11 5 13 8 11 28 11 5 13 8 11 28 11 5 13 8 11 28 11 5 13 8 11 28 11 5 13 8 11 28 11 5 13 8 11 28 11 5 13 8 11 28 11 5 13 8 11 28 11 5 13 8 11 28 11 5 13 8 11 336 136 64 150 90 130 607.000 10.117 10.941 23.667 2.667 2.604.P a g e | 132 Administration Toilet Lavatory Mirror Box Sink Douche Storeroom Shelf Office Transportation Vigo car VAN Guard readymade Total Amount Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec Total 1.

P a g e | 133 Table 4-25 Depreciation cost 2013 Administration Office room Table Computer Telephone Printer Air Condition Meeting room Table Projector Loudspeaker Microphone Living room Sofa Table Canteen Refrigerator Disk rack Table Sink Amount Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec Total 206.000 12.231 0 668 5.442 1.442 1.483 215 0 203 63 137 0 193 67 3.483 215 0 203 63 137 0 193 67 3.789 8.558 11.186 0 56 463 250 1.186 0 56 463 250 1.320 798 .483 215 0 203 63 137 0 193 67 3.000 12.000 89.600 3.186 0 56 463 250 1.442 1.483 215 0 203 63 137 0 193 67 3.560 3.442 1.638 0 2.442 1.990 3.186 0 56 463 250 1.483 215 0 203 63 137 0 193 67 3.442 1.500 71.190 2.442 1.900 66.483 215 0 203 63 137 0 193 67 3.442 1.186 0 56 463 250 1.186 0 56 463 250 1.700 3.483 215 0 203 63 137 0 193 67 41.186 0 56 463 250 1.000 17.300 14.483 215 0 203 63 137 0 193 67 3.442 1.186 0 56 463 250 1.340 27.200 3.186 0 56 463 250 1.483 215 0 203 63 137 0 193 67 3.483 215 0 203 63 137 0 193 67 3.186 0 56 463 250 1.800 2.442 1.442 1.186 0 56 463 250 1.580 0 2.186 0 56 463 250 1.483 215 0 203 63 137 0 193 67 3.483 215 0 203 63 137 0 193 67 3.440 758 1.442 1.155 21.800 15.

172 20.230 2.667 1.172 20.667 20.117 10.172 20.000 2.172 20.400 1.P a g e | 134 Administration Toilet Lavatory Mirror Box Sink Douche Storeroom Shelf Office Transportation Vigo car VAN Guard readymade Total Amount 1.172 20.230 26.172 20.117 10.117 10.000 10.117 10.117 10.230 2.667 1.604.230 2.000 2.230 2.667 1.230 2.172 20.117 10.172 242.230 2.172 20.338.117 10.680 680 320 750 180 650 Jan 28 11 5 13 0 11 Feb 28 11 5 13 0 11 Mar 28 11 5 13 0 11 Apr 28 11 5 13 0 11 May 28 11 5 13 0 11 Jun 28 11 5 13 0 11 Jul 28 11 5 13 0 11 Aug 28 11 5 13 0 11 Sep 28 11 5 13 0 11 Oct 28 11 5 13 0 11 Nov 28 11 5 13 0 11 Dec 28 11 5 13 0 11 Total 336 136 64 150 0 130 607.667 1.230 2.117 10.117 10.667 1.230 2.230 2.667 1.172 20.117 10.760 100.667 1.667 1.069 .000 1.667 1.230 2.982 20.230 2.667 1.172 20.172 20.117 121.667 1.117 10.

186 0 56 463 250 1.483 215 0 203 63 137 0 193 67 41.186 0 56 463 250 1.300 14.483 215 0 203 63 137 0 193 67 3.990 3.638 0 2.483 215 0 203 63 137 0 193 67 3.320 798 .200 3.000 12.186 0 56 463 250 1.483 215 0 203 63 137 0 193 67 3.186 0 56 463 250 1.558 11.186 0 56 463 250 1.900 66.442 1.186 0 56 463 250 1.440 758 1.186 0 56 463 250 1.442 1.000 17.500 71.442 1.442 1.155 21.000 12.483 215 0 203 63 137 0 193 67 3.442 1.483 215 0 203 63 137 0 193 67 3.186 0 56 463 250 1.483 215 0 203 63 137 0 193 67 3.442 1.186 0 56 463 250 1.580 0 2.700 3.483 215 0 203 63 137 0 193 67 3.P a g e | 135 Table 4-26 Depreciation cost 2014 Administration Office room Table Computer Telephone Printer Air Condition Meeting room Table Projector Loudspeaker Microphone Living room Sofa Table Canteen Refrigerator Disk rack Table Sink Amount Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec Total 206.190 2.000 89.340 27.483 215 0 203 63 137 0 193 67 3.442 1.483 215 0 203 63 137 0 193 67 3.186 0 56 463 250 1.483 215 0 203 63 137 0 193 67 3.442 1.186 0 56 463 250 1.186 0 56 463 250 1.442 1.483 215 0 203 63 137 0 193 67 3.442 1.800 2.600 3.800 15.442 1.789 8.560 3.442 1.231 0 668 5.

680 28 28 28 28 28 28 28 28 28 28 28 28 Lavatory 336 680 11 11 11 11 11 11 11 11 11 11 11 11 Mirror 136 320 5 5 5 5 5 5 5 5 5 5 5 5 Box 64 750 13 13 13 13 13 13 13 13 13 13 13 13 Sink 150 180 0 0 0 0 0 0 0 0 0 0 0 0 Douche 0 Storeroom 650 11 11 11 11 11 11 11 11 11 11 11 11 Shelf 130 Office Transportation 607.667 1.172 20.667 1.117 10.000 2.230 2.172 20.230 2.667 1.667 1.230 2.667 1.000 10.230 2.172 242.982 20.172 20.117 10.230 2.230 2.069 .117 10.117 10.117 10.117 121.117 10.400 Vigo car 1.172 20.760 VAN Guard ready100.667 1.667 20.172 20.667 1.230 2.230 26.338.172 20.117 10.172 20.667 1.230 2.667 1.230 2.000 1.230 2.172 20.604.000 made Total 2.667 1.172 20.117 10.117 10.172 20.117 10.230 2.172 20.117 10.667 1.P a g e | 136 Administration Amount Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec Total Toilet 1.

483 215 0 203 63 137 0 193 67 Jun 3.186 0 56 463 250 1.442 1.483 215 0 203 63 137 0 193 67 Total 41.800 15.190 2.186 0 56 463 250 1.320 798 .442 1.442 1.442 1.500 71.442 1.483 215 0 203 63 137 0 193 67 Sep 3.340 27.560 3.186 0 56 463 250 1.442 1.300 14.186 0 56 463 250 1.483 215 0 203 63 137 0 193 67 May 3.186 0 56 463 250 1.483 215 0 203 63 137 0 193 67 Nov 3.638 0 2.186 0 56 463 250 1.483 215 0 203 63 137 0 193 67 Aug 3.900 66.200 3.186 0 56 463 250 1.483 215 0 203 63 137 0 193 67 Oct 3.186 0 56 463 250 1.000 12.186 0 56 463 250 1.000 17.442 1.P a g e | 137 Table 4-27 Depreciation cost 2015 Administration Office room Table Computer Telephone Printer Air Condition Meeting room Table Projector Loudspeaker Microphone Living room Sofa Table Canteen Refrigerator Disk rack Table Sink Amount 206.442 1.155 21.789 8.580 0 2.442 1.483 215 0 203 63 137 0 193 67 Mar 3.483 215 0 203 63 137 0 193 67 Feb 3.186 0 56 463 250 1.186 0 56 463 250 1.186 0 56 463 250 1.000 12.000 89.231 0 668 5.442 1.483 215 0 203 63 137 0 193 67 Jul 3.483 215 0 203 63 137 0 193 67 Apr 3.600 3.440 758 1.442 1.442 1.990 Jan 3.558 11.483 215 0 203 63 137 0 193 67 Dec 3.800 2.700 3.

667 1.117 10.667 1.667 1.000 2.117 121.667 1.230 2.230 2.760 100.117 10.667 1.667 1.604.172 20.667 1.230 2.230 2.230 2.P a g e | 138 Administration Toilet Lavatory Mirror Box Sink Douche Storeroom Shelf Office Transportation Vigo car VAN Guard readymade Total Amount 1.117 10.172 20.172 20.680 680 320 750 180 650 Jan 28 11 5 13 0 11 Feb 28 11 5 13 0 11 Mar 28 11 5 13 0 11 Apr 28 11 5 13 0 11 May 28 11 5 13 0 11 Jun 28 11 5 13 0 11 Jul 28 11 5 13 0 11 Aug 28 11 5 13 0 11 Sep 28 11 5 13 0 11 Oct 28 11 5 13 0 11 Nov 28 11 5 13 0 11 Dec 28 11 5 13 0 11 Total 336 136 64 150 0 130 607.230 2.230 2.172 20.230 2.667 1.069 .667 1.172 20.172 20.117 10.000 2.172 20.117 10.172 20.000 10.117 10.230 2.230 2.230 2.117 10.172 20.667 20.117 10.117 10.400 1.338.117 10.172 20.982 20.172 242.667 1.117 10.000 1.230 26.172 20.667 1.

first is the direct purchase the field latex from the agriculturist and purchase the middleman to purchase from the agriculturist. We emphasize the high export the STR block rubber are 40% and Rib Smoked Sheet are 30% . We think is the trade route will can to be able to have the high possibility in export the rubber process to the best outcome.The trade route of company to using is emphasize save a time and save cost . For the expense . In the process for our step. Domestic purchase price hold the price of central rubber market is purchase from the agriculturist and sale price for export. contact the export data and testing the possibility for export. seek the data for setting the factory. process in production of the Rib Smoked Sheet or RSS and STR block rubber. This is following the data of company. In the export department. The companies have the data for ready to export. For the located or stand the factory. We using the predict price of before market follow the world price. Second lead to the factory for process in the step such as measure the quality of the latex it have the level quality to how the difference. Far the Chiang Khong district in the distance is 2 kilometer. We think the rubber process is interesting. The company fixed price follows the purchase price and sale price. Which using price from the appropriate of production and the capability of purchase for bring the process.Including seek the location to export near the production located. equipment for purchasing. Which was beginning plant in the various areas on Chiang Rai province? Our company’s “Thai North Rubber Industry” has interesting to rubber process for export. Third. Our divides the categories of product bring to process are rubber process is the Rib Smoked Sheet or RSS and STR block rubber. We have the location near with the ChiangKhong district in Chiang Rai province.9 Conclusion Technical Feasibility Conclusion In now the rubber are the most popular. first we seek the location can to support and ready to purchase our product. In the part of management the company have the operation from the step is the seek the location.P a g e | 139 4.

The employee has the high effectiveness in the future. preoperational cost. logistic. .P a g e | 140 of all operation. Ready to cooperation with the product export company and increase the responsibility to work. which separate is operation cost. Which have the detail to differences for our customer we emphasize to the employee have the high skill.

P a g e | 141 Chapter 5 Financial Analysis .

435.776 6.000 446.514.1.860 .068.514.860 2.060 8.1 Total requirement Table 5-1 Total requirement Total requirement Description Preopening Cost Operating Investment Administrative Investment Land Cost Inventory purchasing Operating Expense Administrative Expense Total funding requirement Baht 596.650 8.1.794.000 6.1 Total requirement and the source fund 5.450.553 71.794. There are 24.800 1.822 24.1 Financial Statement 5.P a g e | 142 Financial Analysis 5.000.774 The table shows above represents the total funding requirement of the beginning of this project.624.1.774 Baht of Total requirement Table 5-2 Operating Investment Operating Investment Production machine Testing Lab Equipment Building Total Baht 7.112 101.

445.000 1.000 2.994.520.000 6.325. So we want the money to operation within these 3 months.875.776 Inventory purchasing. Table 5-4 Inventory purchasing Inventory purchasing January February March Total Baht 1.885 2.000 Table 5-5 Operating Expense Operating Expense January February March Total Baht 1.875.112 .624.435.885 1.800 2.P a g e | 143 Table 5-3 Administrative investment Administrative investment Office equipments Supply Total Baht 2.976 103. Operating Expense and Administrative Expense. we use first 3 months of 2011 because we have the condition about Account Receivable for customers must to pay money within 3 months.075.994.343 6.

P a g e | 144 Table 5-6 Administrative Expense Administrative Expense January February March Total Baht 23.000 Baht.000. So. The investor will get refund faster.941 23. 3. The length that we have pay loan are only 10 years. The condition that the investor will be following: The interest not more than 15% per year of the loan amount following the law of Thailand. The reasons that make investor invest with us: 1.941 71. The interest rate of our company more than average interest rate of commercial banks.000. The investor not have risk with net income of our business if the business loss the investor not responsible with us. .822 5.7791% and Average of Foreign Bank Branches is 7.2 The source of fund Our company will borrowing fund from investor who interest this project and want to invest with us.1.941 23. Interest will be 12% per annum. 2. Total requirement is 25. Minimum loan rate of Daily interest rate of commercial banks have Average of Commercial Banks registered in Thailand is 6. So.1.000 Baht within 10 years of repayment. We will continue pay the money that we loan and the interest too.5417%. the interest loan rate that we have 12% more than 3-4% of commercial banks. a loan amounts of 25. According to the Daily interest rate of commercial banks from Bank of Thailand.

P a g e | 145

5.1.2 Income statement
Thai-North Rubber Industry Company Income Statement For Year Ended December 31, 2011(Baht)
Period Starting: Sales Sales Total Sales Less Cost of Goods Sold Materials Operation expense Logistic Total Cost of Goods Sold 1,072,344 242,564 230,314 1,545,222 449,663 0 324,042 701,650 13,760 57,791 1,097,243 -647,580 250,000 1,072,344 242,564 230,314 1,545,222 449,663 0 261,622 57,792 319,414 130,249 248,913 1,314,486 242,564 230,346 1,787,396 657,947 0 261,622 57,792 319,414 338,533 247,816 1,314,486 242,564 230,346 1,787,396 657,947 3,000 270,372 57,792 331,164 326,783 246,707 959,344 242,564 230,291 1,432,199 240,930 0 261,622 57,792 319,414 -78,484 245,587 959,344 242,564 230,291 1,432,199 240,930 1,000 261,622 57,792 320,414 -79,484 244,456 959,344 242,564 230,291 1,432,199 240,930 1,000 270,372 57,792 329,164 -88,234 243,314 959,344 242,564 230,291 1,432,199 240,930 4,000 261,622 57,792 323,414 -82,484 242,161 1,349,078 242,564 230,351 1,821,992 687,701 1,200 261,622 57,792 320,614 367,087 240,995 1,349,078 242,564 230,351 1,821,992 687,701 1,000 270,372 57,792 329,164 358,537 239,819 1,994,885 1,994,885 1,994,885 1,994,885 2,445,343 2,445,343 2,445,343 2,445,343 1,673,129 1,673,129 1,673,129 1,673,129 1,673,129 1,673,129 1,673,129 1,673,129 2,509,694 2,509,694 2,509,694 2,509,694 Jan Feb Mar Apr May Jun Jul Aug Sep Oct

Table 5-7 Income Statement, 2011

Nov

Dec

Totals

2,574,045 2,574,045 1,383,669 242,564 230,356 1,856,589 717,456 1,200 261,622 57,792 320,614 396,842 238,630

2,574,045 2,574,045 1,383,669 782,564 230,356 2,396,589 177,456 4,500 261,622 57,792 323,914 -146,458 237,429

25,740,450 25,740,450 14,076,528 3,450,768 2,763,898 20,291,194 5,449,256 16,900 3,228,133 701,650 13,760 693,505 4,653,947 795,308 2,925,827

Gross Profit Operating Expenses Selling administration expense Pre opening expense Supplies expense Depreciation Total Operating Expenses Operating Income Interest income (expense) Income (Loss) Before Taxes Income Taxes Net Income (Loss) Cumulative Net Income (Loss)

-897,580 0 -897,580

-118,664 0 -118,664

90,717 0 90,717

80,076 0 80,076

-324,071 0 -324,071

-323,940 0 -323,940

-331,548 0 -331,548

-324,644 0 -324,644

126,092 0 126,092

118,719 0 118,719

158,212 0 158,212

-383,887 0 -383,887

-2,130,519 0 -2,130,519

-897,580

-1,016,244

-925,527

-845,451

-1,169,522

-1,493,462

-1,825,010

-2,149,655

-2,023,563

-1,904,844

-1,746,632

-2,130,519

0

Note: Tax: According to our company is company limited. So, we must to pay the tax in rate of 30% per annual equal to 2.5% each month following the Revenue Department.

P a g e | 146

Table 5-8 Income Statement, 2012
Thai-North Rubber Industry Company Income Statement For Year Ended December 31, 2012(Baht)
Period Starting: Sales Sales Total Sales Less Cost of Goods Sold Materials Operation expense Logistic Total Cost of goods sold Gross Profit Operating Expenses Selling administration expense Pre opening expense Supplies expense Depreciation Total Operating Expenses Operating Income Interest income (expense) Income (Loss) Before Taxes Income Taxes Net Income (Loss) Cumulative Net Income (Loss) 2,130,519 200 319,042 0 13,760 57,791 390,793 424,232 236,217 188,015 -6,892 194,907 0 261,622 0 57,792 319,414 495,611 234,992 260,619 -6,892 267,511 200 261,622 0 57,792 319,614 495,411 233,756 261,655 -6,892 268,547 4000 270,372 0 57,792 332,164 482,861 232,506 250,355 -6,892 257,247 200 261,622 0 57,792 319,614 -209,929 231,245 -441,173 -6,892 -434,281 0 261,622 0 57,792 319,414 -209,729 229,970 -439,699 -6,892 -432,807 200 270,372 0 57,792 328,364 -218,679 228,683 -447,362 -6,892 -440,470 4000 261,622 0 57,792 323,414 -213,729 227,383 -441,112 -6,892 -434,220 200 261,622 0 57,792 319,614 495,411 226,070 269,341 -6,892 276,233 0 270,372 0 57,792 328,164 486,861 224,744 262,117 -6,892 269,009 200 261,622 0 57,792 319,614 495,411 223,405 272,006 -6,892 278,898 4000 261,622 0 57,792 323,414 -48,389 222,052 -270,441 -6,892 -263,549 13,200 3,223,133 0 13,760 693,505 3,943,597 2,475,343 2,751,024 -275,681 -82,704 -192,977 1,522,036 242,564 251,824 2,016,425 815,025 1,522,036 242,564 251,824 2,016,425 815,025 1,522,036 242,564 251,824 2,016,425 815,025 1,522,036 242,564 251,824 2,016,425 815,025 811,753 242,564 251,723 1,306,040 109,685 811,753 242,564 251,723 1,306,040 109,685 811,753 242,564 251,723 1,306,040 109,685 811,753 242,564 251,723 1,306,040 109,685 1,522,036 242,564 251,824 2,016,425 815,025 1,522,036 242,564 251,824 2,016,425 815,025 1,522,036 242,564 251,824 2,016,425 815,025 1,522,036 782,564 251,824 2,556,425 275,025 15,423,300 3,450,768 3,021,487 21,895,555 6,418,940 2,831,449 2,831,449 2,831,449 2,831,449 2,831,449 2,831,449 2,831,449 2,831,449 1,415,725 1,415,725 1,415,725 1,415,725 1,415,725 1,415,725 1,415,725 1,415,725 2,831,449 2,831,449 2,831,449 2,831,449 2,831,449 2,831,449 2,831,449 2,831,449 28,314,495 28,314,495 Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec Totals

-1,935,612

-1,668,101

-1,399,554

-1,142,307

-1,576,589

-2,009,396

-2,449,866

-2,884,086

-2,607,853

-2,338,845

-2,059,947

-2,323,496

0

Note: Tax: According to our company is company limited. So, we must to pay the tax in rate of 30% per annual equal to 2.5% each month following the Revenue Department.

P a g e | 147

Table 5-9 Income Statement, 2013
Thai-North Rubber Industry Company Income Statement For Year Ended December 31, 2013 (Baht)
Period Starting: Sales Sales Total Sales Less Cost of Goods Sold Materials Operation expense Logistic Total Cost of goods sold Gross Profit Operating Expenses Selling administration expense Pre opening expense Supplies expense Depreciation Total Operating Expenses Operating Income Interest income (expense) Income (Loss) Before Taxes Income Taxes Net Income (Loss) Cumulative Net Income (Loss) 2,323,496 Jan 3,114,594 3,114,594 Feb 3,114,594 3,114,594 Mar 3,114,594 3,114,594 Apr 3,114,594 3,114,594 May 1,557,297 1,557,297 Jun 1,557,297 1,557,297 Jul 1,557,297 1,557,297 Aug 1,557,297 1,557,297 Sep 3,114,594 3,114,594 Oct 3,114,594 3,114,594 Nov 3,114,594 3,114,594 Dec 3,114,594 3,114,594 Totals 31,145,944 31,145,944

1,674,240 242,564 275,440 2,192,244 922,351 200 319,042 0 13,760 53,107 386,109 536,241 220,686

1,674,240 242,564 275,440 2,192,244 922,351 0 261,622 0 0 53,108 314,730 607,621 219,306

1,674,240 242,564 275,440 2,192,244 922,351 200 261,622 0 53,108 314,930 607,421 217,912

1,674,240 242,564 275,440 2,192,244 922,351 3500 270,372 0 53,108 326,980 595,371 216,505

892,928 242,564 275,328 1,410,820 146,477 200 261,622 0 53,108 314,930 -168,453 215,083

892,928 242,564 275,328 1,410,820 146,477 0 261,622 0 53,108 314,730 -168,253 213,647

892,928 242,564 275,328 1,410,820 146,477 200 270,372 0 53,108 323,680 -177,203 212,197

892,928 242,564 275,328 1,410,820 146,477 3500 261,622 0 53,108 318,230 -171,753 210,732

1,674,240 242,564 275,440 2,192,244 922,351 200 261,622 0 53,108 314,930 607,421 209,252

1,674,240 242,564 275,440 2,192,244 922,351 0 270,372 0 53,108 323,480 598,871 207,758

1,674,240 242,564 275,440 2,192,244 922,351 200 261,622 0 53,108 314,930 607,421 206,249

1,674,240 782,564 275,440 2,732,244 382,351 3500 261,622 0 53,108 318,230 64,121 204,725

34,288,431 3,450,768 3,304,835 23,721,233 7,424,712 11,700 3,223,133 0 13,760 637,294 3,885,887 3,538,825 2,554,052

315,555 24,619 290,936 2,032,560

388,315 24,619 363,695 -1,668,864

389,508 24,619 364,889 -1,303,975

378,866 24,619 354,247 -949,728

-383,536 24,619 -408,155 -1,357,884

-381,900 24,619 -406,519 -1,764,403

-389,400 24,619 -414,019 -2,178,422

-382,485 24,619 -407,104 -2,585,526

398,168 24,619 373,549 -2,211,977

391,113 24,619 366,493 -1,845,484

401,172 24,619 376,552 -1,468,931

-140,604 24,619 -165,223 -1,634,155

984,773 295,432 689,341 0

Note: Tax: According to our company is company limited. So, we must to pay the tax in rate of 30% per annual equal to 2.5% each month following the Revenue Department.

426.426.526.054 3.470 1.108 326.054 3.221 242.980 200 261.622 0 53.221 242.098 449.461 3.054 3.664 782.108 314.155 200 319.543 1.109 0 261.713 533. .295 1.846 57.462 475.462 455.713.351 57.426.828 1.887 1.108 314.813 -323.054 3.426.038. we must to pay the tax in rate of 30% per annual equal to 2.930 3500 261.608.927.662.426.189 37.117 25. So.080 -618.132 513.086 -25.054 3.027 1.078 8.565 -311.079 186.768 3.664 242.462 469.302 715.890 526.618 723.462 391.295 1.564 303.470 1.036 57.260.038.630.713.108 323.054 34.634.462 466.578 -1.108 318.5% each month following the Revenue Department.462 -387.316 -323.574 2.242 2.841.933 -777.486 57.564 301.221 242.969 723.930 3500 270.744.282 191.185 723.854 201.584 1.516.619 -131.584 1.327 522.760 637.872 -127.242 2.108 314.200 4.235 -238. 2014 Oct Nov Dec Totals 652.289 57.133 0 13.917 180.242 2.664 242.622 0 53.372 0 53.426.664 242.108 318.474 -127.054 3.426.470 1.680 3500 261.470 1.462 -382.630 723.664 242.426.027 1.426.054 3.713.841.470 1.564 303.391 -1.107 386.024 536.108 323.498 -330.275 -4.426.470 1.713.713.038.526.038.713.193 3.426.221 242.387.027 1.654 200.470 498.664 242.462 -380.564 301.564 303.054 3.622 0 53.622 0 0 53.450.042 0 13.372 0 53.222 0 Note: Tax: According to our company is company limited.260.027 1.251 57.713.387.295 1.387.622 0 53.006.213 -442.930 0 261.584 18.230 11.700 3.782 195.564 303.564 303.426.054 3.584 1.622 0 0 53.308 2.584 982.387.841.038.668 -324.539 Jan Feb Mar Apr May Jun Jul Aug Sep Table 5-10 Income Statement.841.654 186.584 1.079 186.737 57.948 1.223.108 314.885.948 982.622 0 53.564 303.930 0 270.079 186.387.079 186.387.604 198.372 0 53.631.564 303.433 144.564 301.462 -62.982 196.732 193.841.242 2.295 1.242 2.354 185.054 3.054 3.622 0 53.730 200 270.038.224 57.664 242.298.539 34.526.948 982.564 301.242.130 57.104 -911.027 1.038.475 203.584 1.480 200 261.654 190.054 3.470 1.854 57.664 242.594 57.352 57.054 1.294 3.027 1.526.108 314.054 3.564 303.713.841.230 200 261.760 53.387.242 2.387.476 689.108 314.462 -380.242 2.762 523.027 3.948 982.332.462 464.462 479.426.054 3.060 711.P a g e | 148 Thai-North Rubber Industry Company Income Statement For Year Ended December 31.104 188.841.730 200 261.254 -136.426.426.027 1. 2014 (Baht) Period Starting: Sales Sales Total Sales Less Cost of Goods Sold Materials Operation expense Logistic Total Cost of goods sold Gross Profit Operating Expenses Selling administration expense Pre opening expense Supplies expense Depreciation Total Operating Expenses Operating Income Interest income (expense) Income (Loss) Before Taxes Income Taxes Net Income (Loss) Cumulative Net Income (Loss) 1.242 2.841.426.584 1.

P a g e | 149

Table 5-11 Income Statement, 2015
Thai-North Rubber Industry Company Income Statement For Year Ended December 31, 2015 (Baht)
Period Starting: Sales Sales Total Sales Less Cost of Goods Sold Materials Operation expense Logistic Total Cost of goods sold Gross Profit Operating Expenses Selling administration expense Pre opening expense Supplies expense Depreciation Total Operating Expenses Operating Income Interest income (expense) Income (Loss) Before Taxes Income Taxes Net Income (Loss) Cumulative Net Income (Loss) 200 319,042 0 13,760 53,107 386,109 0 261,622 0 0 53,108 314,730 200 261,622 0 0 53,108 314,930 3500 270,372 0 0 53,108 326,980 200 261,622 0 53,108 314,930 0 261,622 0 53,108 314,730 200 270,372 0 53,108 323,680 3500 261,622 0 53,108 318,230 200 261,622 0 53,108 314,930 0 270,372 0 53,108 323,480 200 261,622 0 53,108 314,930 3500 261,622 0 53,108 318,230 11,700 3,223,133 0 13,760 637,294 3,885,887 3,768,659 3,768,659 3,768,659 3,768,659 3,768,659 3,768,659 3,768,659 3,768,659 1,884,330 1,884,330 1,884,330 1,884,330 1,884,330 1,884,330 1,884,330 1,884,330 3,768,659 3,768,659 3,768,659 3,768,659 3,768,659 3,768,659 3,768,659 3,768,659 37,686,593 37,686,593 Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec Totals

2,025,830 242,564 331,817 2,600,212

2,025,830 242,564 331,817 2,600,212

2,025,830 242,564 331,817 2,600,212

2,025,830 242,564 331,817 2,600,212

1,080,443 242,564 329,857 1,652,864

1,080,443 242,564 329,857 1,652,864

1,080,443 242,564 329,857 1,652,864

1,080,443 242,564 329,857 1,652,864

2,025,830 242,564 331,817 2,600,212

2,025,830 242,564 331,817 2,600,212

2,025,830 242,564 331,817 2,600,212

2,025,830 782,564 331,817 3,140,212

20,528,412 3,450,768 3,973,968 27,953,148

1,168,448

1,168,448

1,168,448

1,168,448

231,466

231,466

231,466

231,466

1,168,448

1,168,448

1,168,448

628,448

9,733,444

782,339 183,465

853,718 181,713

853,518 179,943

841,468 178,156

-83,464 176,351

-83,264 174,527

-92,214 172,686

-86,764 170,826

853,518 168,947

844,968 167,050

853,518 165,134

310,218 163,198

5,847,557 2,081,995

598,874 94,139 504,735

672,005 94,139 577,866

673,575 94,139 579,436

663,312 94,139 569,173

-259,815 94,139 -353,954

-257,792 94,139 -351,931

-264,900 94,139 -359,039

-257,590 94,139 -351,729

684,571 94,139 590,432

677,918 94,139 583,779

688,384 94,139 594,245

147,020 94,139 52,881

3,765,562 1,129,669 2,635,893

-25,222

479,513

1,057,379

1,636,815

2,205,988

1,852,034

1,500,104

1,141,065

789,335

1,379,767

1,963,546

2,557,791

2,610,672

0

Note: Tax: According to our company is company limited. So, we must to pay the tax in rate of 30% per annual equal to 2.5% each month following the Revenue Department.

P a g e | 150

5.1.3 Balance Sheet

Table 5-12 Balance Sheet, 2011
Thai-North Rubber Industry Company Balance Sheet December 31, 2011 (Baht)

Beginning ASSETS Current Assets Cash Accounts Receivable Total Current Assets Non-current Assets Land Operations asset Administration asset Total non-current assets Total Assets LIABILITIES Long Term Liabilities Long Term Debt Income Tax Payable Total liabilities EQUITY Retained Earnings Total Equity Total Liabilities Equity

JAN

FEB

MAR

APR

MAY

JUN

JUL

AUG

SEP

OCT

NOV

DEC

8,346,958 8,346,958 6,450,000 7,598,060 2,604,982 16,653,042 25,000,000

6,800,026 598,465 7,398,492 6,450,000 7,564,210 2,581,041 16,595,251 23,993,743

6,030,925 1,196,931 7,227,856 6,450,000 7,530,358 2,557,101 16,537,459 23,765,315

5,334,969 1,930,534 7,265,503 6,450,000 7,496,507 2,533,160 16,479,667 23,745,170

5,225,729 2,065,671 7,291,400 6,450,000 7,462,655 2,509,219 16,421,875 23,713,275

4,942,887 1,969,144 6,912,031 6,450,000 7,428,804 2,485,279 16,364,083 23,276,114

4,794,182 1,737,480 6,531,662 6,450,000 7,394,952 2,461,338 16,306,290 22,837,953

4,636,727 1,505,816 6,142,543 6,450,000 7,361,101 2,437,397 16,248,498 22,391,042

4,253,358 1,505,816 5,759,174 6,450,000 7,327,249 2,413,457 16,190,706 21,949,880

4,068,591 1,756,786 5,825,377 6,450,000 7,293,398 2,389,516 16,132,914 21,958,290

3,875,274 2,007,755 5,883,029 6,450,000 7,259,546 2,365,576 16,075,122 21,958,150

3,700,956 2,278,030 5,978,986 6,450,000 7,225,695 2,341,635 16,017,330 21,996,315

3,234,307 2,297,335 5,531,642 6,450,000 7,191,843 2,317,694 15,959,537 21,491,180

25,000,000 25,000,000

24,891,323 0 24,891,323

24,781,558 0 24,781,558

24,670,697 0 24,670,697

24,558,726 0 24,558,726

24,445,636 0 24,445,636

24,331,415 0 24,331,415

24,216,052 0 24,216,052

24,099,535 0 24,099,535

23,981,853 0 23,981,853

23,862,994 0 23,862,994

23,742,947 0 23,742,947

23,621,699 0 23,621,699

0 25,000,000

-897,580 -897,580 23,993,743

-1,016,244 -1,016,244 23,765,315

-925,527 -925,527 23,745,170

-845,451 -845,451 23,713,275

-1,169,522 -1,169,522 23,276,114

-1,493,462 -1,493,462 22,837,953

-1,825,010 -1,825,010 22,391,042

-2,149,655 -2,149,655 21,949,880

-2,023,563 -2,023,563 21,958,290

-1,904,844 -1,904,844 21,958,150

-1,746,632 -1,746,632 21,996,315

-2,130,519 -2,130,519 21,491,180

P a g e | 151

Table 5-13 Balance Sheet, 2012
Thai-North Rubber Industry Company Balance Sheet December 31, 2012 (Baht)
JAN ASSETS Current Assets Cash Accounts Receivable Total Current Assets Non-current Assets Land Operations asset Administration asset Total non-current assets Total Assets LIABILITIES Long Term Liabilities Long Term Debt Income Tax Payable Total liabilities EQUITY Retained Earnings Total Equity Total Liabilities Equity FEB MAR APR MAY JUN JUL AUG SEP OCT NOV DEC

3,261,126 2,393,862 5,654,988 6,450,000 7,157,993 2,293,754 15,901,747 21,556,735

3,378,631 2,471,083 5,849,714 6,450,000 7,124,142 2,269,813 15,843,954 21,693,668

3,495,935 2,548,305 6,044,239 6,450,000 7,090,290 2,245,872 15,786,162 21,830,402

3,677,911 2,548,305 6,226,215 6,450,000 7,056,439 2,221,932 15,728,370 21,954,585

3,591,814 2,123,587 5,715,401 6,450,000 7,022,587 2,197,991 15,670,578 21,385,979

3,505,917 1,698,870 5,204,787 6,450,000 6,988,736 2,174,050 15,612,786 20,817,573

3,411,071 1,274,152 4,685,223 6,450,000 6,954,884 2,150,110 15,554,994 20,240,217

2,896,457 1,274,152 4,170,609 6,450,000 6,921,033 2,126,169 15,497,202 19,667,810

2,666,265 1,698,870 4,365,135 6,450,000 6,887,181 2,102,228 15,439,409 19,804,544

2,427,523 2,123,587 4,551,110 6,450,000 6,853,330 2,078,288 15,381,617 19,932,727

2,197,331 2,548,305 4,745,636 6,450,000 6,819,478 2,054,347 15,323,825 20,069,461

1,930,761 2,548,305 4,479,066 6,450,000 6,785,627 2,030,406 15,266,033 19,745,099

23,499,239 -6,892 23,492,347

23,375,554 -13,784 23,361,769

23,250,632 -20,676 23,229,956

23,124,461 -27,568 23,096,893

22,997,028 -34,460 22,962,568

22,868,321 -41,352 22,826,969

22,738,327 -48,244 22,690,082

22,607,033 -55,136 22,551,896

22,474,425 -62,028 22,412,397

22,340,492 -68,920 22,271,572

22,205,220 -75,812 22,129,408

22,068,595 0 22,068,595

-1,935,612 -1,935,612 21,556,735

-1,668,101 -1,668,101 21,693,668

-1,399,554 -1,399,554 21,830,402

-1,142,307 -1,142,307 21,954,585

-1,576,589 -1,576,589 21,385,979

-2,009,396 -2,009,396 20,817,573

-2,449,866 -2,449,866 20,240,217

-2,884,086 -2,884,086 19,667,810

-2,607,853 -2,607,853 19,804,544

-2,338,845 -2,338,845 19,932,727

-2,059,947 -2,059,947 20,069,461

-2,323,496 -2,323,496 19,745,099

596 6.171.155 18.062 18.245.234 15.682 14.484 -1.450.567 4.686.718.450.306 2.318.818 20.363 .274.737 6.135 5.335.198 20.171.789 6.634.337 1.796 21.684.415 1.135 5.931 -1.803.709.010.353 6.477 21.785.845.135 4.505 2.293.129.367.544 15.025.467 73.294 98.000 6.092 20.192 5.248 4.657.602.620.536.934 1.178.390.788.494 20.764.668.053.386 19.864 -1.588.129. 2013 (Baht) JAN ASSETS Current Assets Cash Accounts Receivable Total Current Assets Non-current Assets Land Operations asset Administration asset Total non-current assets Total Assets LIABILITIES Long Term Liabilities Long Term Debt Income Tax Payable Total liabilities EQUITY Retained Earnings Total Equity Total Liabilities Equity 2.122.922.756 1.739 18.000 6.468.975 20.889. 2013 Thai-North Rubber Industry Company Balance Sheet December 31.043 -1.841.450.663 2.813 20.172.602.143 1.669 147.634.000 6.757 3.256 1.370 2.000 6.450.657.505 6.975 -1.200 14.450.508.848.803.510 14.000 6.510.352 1.079 1.955 21.403 -1.654 6.502 6.027 14.102 2.223 21.032.357.913 -1.420.303.450.585.855 14.628.352 -1.450.450.871.752.947.775.106.032.526 -2.655.364.710 20.840 1.949.472.128.603 24.567 3.062 15.845.840.592.135 4.977 -2.977 18.518 0 20.011.420.803.982 -2.272 1.955 19.338 14.555.789.560 19.821 1.014 1.290.043 2.785.350 2.441 6.719.793.791.585.450.560 -2.764.728 -949.800.178.536.672 -2.717 15.788.716 21.757 4.415 -1.526 18.602 20.076.313.000 6.490 2.681.950 1.102 -2.596 1.097 21.990.000 6.000 6.663 -1.728 20.734.929.885 1.211.450.858 21.067.484 19.401.401.518 -2.232 49.930.606 2.155 -1.055.450.997.603.653.955.864 20.000 6.239 21.931 19.325 21.073.274.650.524 20.363 FEB MAR APR MAY JUN JUL AUG SEP OCT NOV DEC 21.000.954.909.574 20.969.606 -1.193 20.385 21.219.208 1.808.625 6.925.252.025.243 196.372 14.772 21.067.392 20.619 21.335.624.668.293.335 21.786.868.129.401 1.997.633.894.606.692 2.473 2.170 18.913 2.824 6.828.350 -949.869.868.456.000 6.468.640 6.522.609 1.771.489 2.708 2.695.609 -1.487.211.489.000 6.159.700 123.818 221.303.724.982 2.278 19.922.847 19.P a g e | 152 Table 5-14 Balance Sheet.684.803.419 6.422 19.597 2.403 19.946 5.357.884 -1.000 6.318.471 21.450.422 -2.189 172.884 20.743.283 20.423.672 2.212.926 19.889 15.946 4.899 246.471 270.

321.641.870 402.566.028.256.768.541.724 1.462 20.165 14.448 5.450.448 5.309 19. 2014 Thai-North Rubber Industry Company Balance Sheet December 31.898 6.361.978.083.233 19.000 6.956 2.083.402.691.156.712 -1.599.789 1.416 19.189 18.335.238.416.026 57.046 18.476 14.000 6.352 287.546.448 4.632 4.785 517.632 4.524 19.450.708.778.982 1.132 1.361 172.328 2.121 -1. 2014 (Baht) JAN ASSETS Current Assets Cash Accounts Receivable Total Current Assets Non-current Assets Land Operations asset Administration asset Total non-current assets Total Assets LIABILITIES Long Term Liabilities Long Term Debt Income Tax Payable Total liabilities EQUITY Retained Earnings Total Equity Total Liabilities Equity FEB MAR APR MAY JUN JUL AUG SEP OCT NOV DEC 1.156 2.055.488 0 18.771 19.614 14.820 14.991.450.189 -442.189.848 19.000 6.397 2.346.000 6.565 -777.378.569.083.391 18.450.433 19.156 37.466 1.726 574.081 19.561.707.841 2.222 -25.918 1.667.235 20.266 .132 -25.708.080 19.387.753 2.450.574.540 4.955 2.000 6.086 37.942 18.712 2.814 6.824.061.345 18.592.519.531 1.553 19.575.121 2.619 19.467.830.647.269 13.213 -911.004 1.131 14.000 6.006.225.316.522.203.055.242.488 -1.565 19.357.111 1.161 459.898.258.000 6.308 20.729 -442.086 19.240 -238.381 6.200 19.150.467.747 19.303 14.794.000 6.958 14.978.363.917.126.373 3.450.632 18.450.445 18.387.820.876 6.573 4.495 6.093.924 20.450 3.578 -618.984 18.876 18.529 6.000 5.644.578 19.192.824.606.861.092 19.574.240 2.000 6.728 6.176 1.155.000 6.097.525.103 19.469.966 632.687.220.120.163.357.291.144.266.222 18.314 2.196.235 144.450.747.006.189.152.648 14.005 19.324.061.726.626.329.990.484 3.102.083.722.856 18.768 18.030.386 20.104 -1.104 18.131 3.161 1.724 4.541.724 3.979 114.061.448 5.505.011 4.569.586.450.896.337 2.346.786 14.327 -1.343.592.903 19.061.088.088.729 2.933 6.327 18.314 144.000 6.847.993 14.488 20.489.242.853 1.029 6.047 1.706.995.961 6.005.261.822 6.450.727.687.157 19.595 1.433 -311.450.803 2.660 1.450.157 229.928 344.080 -238.152 1.P a g e | 153 Table 5-15 Balance Sheet.044.581 -618.213 18.391 -1.540 5.266 20.441 14.102.812.159.581 2.161 -777.580 6.211.246.310.337 -311.019.699 19.695 19.321.660 18.343.753 -911.661 19.

141.611 17.034 1.632.500.275 94.304.695.023 3.830.897 4.023 1.000 5.624 789.798 19.791 2.779. 2015 (Baht) JAN ASSETS Current Assets Cash Accounts Receivable Total Current Assets Non-current Assets Land Operations asset Administration asset Total non-current assets Total Assets LIABILITIES Long Term Liabilities Long Term Debt Income Tax Payable Total liabilities EQUITY Retained Earnings Total Equity Total Liabilities Equity FEB MAR APR MAY JUN JUL AUG SEP OCT NOV DEC 1.104 1.741.454.046.027 .344.379 1.452.968 2.815 1.704 1.065 1.234 13.183 1.131.735.000 5.414 17.418.366 19.205.311 188.450.549 6.082.513 18.083 3.792 3.230 4.826.000 5.027 18.885.693 1.458 3.157.065 18.988 20.465.141.062 13.174.672 2.619.628 1.698.450.578 564.065.797.011.752 13.826.139 18.938.582 18.505.809 2.962.932.034 19.791 19.437.739 6.735.665.114.695.951 1.256 16.734.735 753.049.647.314 2.354 2.672 18.601 6.988 2.775.764.863.370 1.151 18.096 13.014 20.450.000 5.896.384.000 5.927 2.437.660.391.890 13.335 789.948 6.057.380.450.557.876 6.589 17.734.586 6.957.405.530 17.989.705.847 16.391.963.474 18.391.155 2.832.239.379 19.929.968 1.894.870.230 19.200 13.556 18.932.494 6.636.806.314 3.354.355.994.793 5.450.425.122 19.599 3.104 19.306 1.902.000 5.335 18.445.744.450.687 6.793 6.485.672.278 18.513 479.906 19.183 3.196 5.834 17.834 1.635.458 1.289.505.567.560 16.822 1.494 5.035.319.196 5.241 1.546 19.725.355 0 16.355 479.171.423 17.379.577 282.545 13.364 16.815 19.566.P a g e | 154 Table 5-16 Balance Sheet.513.579 13.927 1.913.217.718 6.372 13.809 3.182.412 17.552 6.399.057 2.913.624 3.450.124.262.268.435 1.103 3.934 6.205.513.695 17.727 3.744.564 1.924 13.450.523 2.460.767 1.767 18.882.994 17.620.599 1.793 5.586 658.793 6.038 1.886 1.005 847.546 1.217.265.186.333.354.599.417 18.337 18.333.833.379.775.112 17.526.418.717 13.450.516 3.057.815.055 376.510.000 5.418.391.852.453 2.731.500.516 1.012 5.258 19.251 17.768 16.557.636.552.155 1.894 3.757 1.450.360 3.499 1.097. 2015 Thai-North Rubber Industry Company Balance Sheet December 31.923.690 18.000 5.610.963.407.973 17.852.000 5.407 13.610.364.590 6.450.450.261.239.261.000 5.896 6.000 5.882.324.728 470.390 17.124.897 5.000 5.223.438.378 941.

212 383.791 1.707 249.1.875.438.026 6.913 248.092 118.819 165.707 246.835 244.752 231.161 24.792 34.401 - 585.360 237.085 250.068.972 243.693.969 57.587 245.792 659.942.548 324. 2011 Thai-North Rubber Industry Company Cash Flow Statement December 31.717 80.564 4.592.664 90.275 57.254 598. 2011 (Baht) Jan Cash flow from operating activities Net Income Adjustment to reconcile net income to net Cash provided by operating activities Decrease (Increase) in account receivable Increase (Decrease) in income taxes payable Depreciation expense Net cash provided by operating activities Cash flows from investing activities Net cash used in investing activities Cash flows from financing activities Cash paid for interest expense Net cash used in financing activities Net increase (decrease) in cash Cash balance at beginning of the month Cash balance at ended of month 897.429 237.730 96.958 7.465 57.859 4.719 158.792 169.360 238.985 6.887 5.456 209.995 173.465 57.969 5.527 57.951 3.458 270.816 247.137 57.222 242.727 4.225.456 244.971 3.071 323.633 .000 250.792 54.484 231.000 1.956 3.913 410.301.059.158.704 248.792 42.792 345.792 266.925 5.630 184.995.792 74.700.729 5.092 57.630 238.819 239.030.664 57.076 324.995 240.407 5.274 4.035 240.580 118.346.358 4.969 57.591 4.389.270 19.188.182 4.4 Cash Flow Statements Table 5-17 Cash Flow Statement.940 331.254 8.337 - 733.602 247.612.268 4.647 5.816 337.584.152.636.887 Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec 598.233.161 242.P a g e | 155 5.910 239.587 75.429 107.404 4.314 201.334.792 135.644 126.792 2.253.094 - 67.692 4.424 6.427.603 57.794.800.437 245.664 57.305 57.278 246.852 - 250.792 250.314 243.

201 2.331 2.892 57.506 540.217 385.383.970 229.200 223.263.854.911 3.907 Feb 267.549 - 96.814 3.126 3.794 2.611 - 82.221 6.744 119.666.864.495.505.233 Oct 269.378. 2012 Thai-North Rubber Industry Company Cash Flow Statement December 31.950.434.320 .245 272.744 224.892 57.440.786.134 226.992 476.070 128.424.704 .052 .756 233.073.892 57.792 83.992 234.892 57.748 227.308 233.496 3.506 232.124.809 .547 Apr 257.937 3.255.491 229.717 6.982 3.148 - 6.221 6.717 4.591.247 May .804 234.254 236.434.071 3.523 2.898 Dec .683 263.226 - 6.189 - 77.217 236.792 35.245 231.792 41.527 6.717 6.470 Aug .511 Mar 268.595 228.917 3.424.810 - 424.416 57.807 Jul .892 57.104.427.791 149.024.581 3.892 57.281 Jun .424.383 227.317 222.737. 2012 (Baht) Jan Cash flow from operating activities Net Income Adjustment to reconcile net income to net Cash provided by operating activities Decrease (Increase) in account receivable Increase (Decrease) in income taxes payable Depreciation expense Net cash provided by operating activities Cash flows from investing activities Net cash used in investing activities Cash flows from financing activities Cash paid for interest expense Net cash used in financing activities Net increase (decrease) in cash Cash balance at beginning of the month Cash balance at ended of month 194.307 3.792 242.717 6.892 57.717 6.346.052 222.265 2.261.896.130 .769.653 3.717 6.612 232.792 308.792 97.405 223.155.585 .036.457 3.432.336 - 424.892 57.831 3.942 224.147 - 424.683 228.781 3.567.970 272.P a g e | 156 Table 5-18 Cash Flow Statement.411.070 226.279 - 77.197.405 139.792 .234.935 4.182 3.486 2.756 475.619.009 Nov 278.892 57.792 241.631 3.892 57.677.383 .220 Sep 276.588 231.936 2.792 .792 42.

044 2.252 193.274 207.432 53.673 24.145.686 504.317 220.889 Apr 354.249 213.264 204.974 467.408.108 357.785 2.984 215. 2013 (Baht) Jan Cash flow from operating activities Net Income Adjustment to reconcile net income to net Cash provided by operating activities Decrease (Increase) in account receivable Increase (Decrease) in income taxes payable Depreciation expense Net cash provided by operating activities Cash flows from investing activities Net cash used in investing activities Cash flows from financing activities Cash paid for interest expense Net cash used in financing activities Net increase (decrease) in cash Cash balance at beginning of the month Cash balance at ended of month 290.189 24.467.397 467.189 24.473 3.377 .619 53.167 219.197 212.686 220.585 2.487.293.467.108 431.732 .412 .844 2.467.414.840 3.407. 2013 Thai-North Rubber Industry Company Cash Flow Statement December 31.405 1.165.556 1.435.306 219.936 Feb 363.619 53.786.107 283.732 210.943 24.969 .493 Nov 376.041 1.652.129.652.306 3.489 2.108 138.725 204.619 53.223 - 84.619 53.647 352.252 209.619 53.108 136.189 24.912 217.479 2.189 44.108 183.645 2.897 24.197 343.076.108 130.155 Jun .247 May .930.118.108 .019 Aug .549 Oct 366.256 2.611 209.912 575.758 184.083 351.168.789.597 2.943 24.725 388.647 213.619 53.108 7.249 206.339 2.150 213.189 24.158.329.771.719 - 84.P a g e | 157 Table 5-19 Cash Flow Statement.708 2.517 212.094 2.152.761 467.505 648.934 210.789 2.479 - 84.758 207.293.108 22.619 53.596 2.182 216.943 24.108 15.307 295.761 2.934 2.954.313.913 .510.306 575.104 Sep 373.370 2.619 53.108 356.386 206.406.505 216.619 53.083 215.552 Dec .274 217.519 Jul .869.505 3.836 53.793.695 Mar 364.177.800.189 24.128.619 53.

561.106 185.959 - 93.156.917 293.234 689.681 - 191. 2014 (Baht) Jan Cash flow from operating activities Net Income Adjustment to reconcile net income to net Cash provided by operating activities Decrease (Increase) in account receivable Increase (Decrease) in income taxes payable Depreciation expense Net cash provided by operating activities Cash flows from investing activities Net cash used in investing activities Cash flows from financing activities Cash paid for interest expense Net cash used in financing activities Net increase (decrease) in cash Cash balance at beginning of the month Cash balance at ended of month 391.713 Sep 475.254 195.722.462 53.462 53.956 2.794.828 Feb 464.665 57.152.829 190.619 430.908 57.917 186.686 .438 57.357.513.618 188.908 57.081.813 Aug .474 198.200 865.450.004 2.254 439.387.462 53.162 196.450 2.108 .000.543 2.108 72.543 53.462 53.162 513.200 185.127 198.108 680.131 2.034 2.484 3.759 53.238 513.462 53.618 254.108 566.382.513.302 262.462 53.872 439.634 201.270.185 612.514.462 53.234 2.108 236.498 Jul .261.108 106.152 2.060 200.524 1.969 78.908 57.830.143 .518 195.324 1.155.060 683.920.908 57. 2014 Thai-North Rubber Industry Company Cash Flow Statement December 31.619 193.480 200.715.620.462 53.108 483.513.908 57.668 May .630 201.632 186.980 513.302 190.552 .890 Oct 469.304 2.284 2.908 87.474 764.894 - 93.252.144 1.308 - 93.864.854 2.108 242.108 65.132 Apr 455.264 57.108 481.969 191.462 53.926.275 - Dec 62.641.438 57.185 203.151 2.328 2.380.803 2.438 57.343 203.061.505.762 Mar 466.024 Nov 479.316 Jun .075 193.841 3.006 188.712 2.107 408.674 .515.108 243.490 1.462 53.P a g e | 158 Table 5-20 Cash Flow Statement.955 2.189.397 3.174 2.380.630 683.872 196.

826 33.108 358.5 Loan Loan Principal Amount Annual Interest Rate Year Now MlR =7.200 3.399.354 3.404 2.129.223.947 168.432 583.139 53.360 2.1.424.958 5.131.849 1.954 351.108 172.514.465 183.901 94.156 894.108 1.894 3.031 3.758.380 565.139 53.727 565.198 163.143 172.576 176.038 3.108 217.193 170.420 565.713 181.139 53.381 168.299 94.943 179.139 53.108 353.735 577.199 102.510.139 53.567.139 53.173 353.527 535.615 565.134 382.523 3.686 172.050 167.299 94.351 534.881 Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec 102.436 569.782 94.299 94.777 165.103 4.050 332.000.139 53.044 179.664 181.037 1.373 1.75 % Loan Period in Years Monthly Payments 25.512.795 53.669 53.470 3.157.331 102.000 12.299 135.108 623.686 526. 2015 Thai-North Rubber Industry Company Cash Flow Statement December 31.235.453 3.351 176.107 549.00% 10 358.869.134 165.527 174.246.729 590.855 1.925.735 3.465 732.398.139 53.37 .656 3.507 94.943 803.108 204.581.490.065.677.139 53.713 804.931 359.947 341.327 167.P a g e | 159 Table 5-21 Cash Flow Statement.620.299 94.131 3.405.533.792 3.715 3.779 594.174.139 53.592 565.983 163. 2015 (Baht) Jan Cash flow from operating activities Net Income Adjustment to reconcile net income to net Cash provided by operating activities Decrease (Increase) in account receivable Increase (Decrease) in income taxes payable Depreciation expense Net cash provided by operating activities Cash flows from investing activities Net cash used in investing activities Cash flows from financing activities Cash paid for interest expense Net cash used in financing activities Net increase (decrease) in cash Cash balance at beginning of the month Cash balance at ended of month 504.826 170.979.657 183.057 3.482 565.571 2.108 165.156 178.436 3.866 579.245 52.108 716.516.039 351.108 622.114.046.198 1.108 360.782 94.704 3.727 2.844 178.943 174.782 94.299 94.

699.053 2.937.762 NOV 4.688 NOV 3.919 JUL 2.699.523.198 JAN 2.090.503 4.117 5.688 Sale.768.559 2.333.009.381 JUL 2.537.452 JUN 2.689.304.045.106 5. 2015 Cash Accounts Receivable Total Sale JAN 4.875.940 1.576.263.824 4.582 1.516.116 892.263.688 DEC 3.940 1.844 JUL 1.090.106 5.381 AUG 2.276 MAY 2.033.004.791 755.546.940 1.839 MAY 2.937.229 6.661.510.131.791 755.082.482.827.582 1.057 FEB 3.372.768.203.887 2.349.344.559 2.510.537.887 2.523 1.875.970 830.372.452 SEP 3.940 1.106 5.347.827.534 1.336 2.510.093 1.523.106 5.939 3.349.063.689.689.336 2.033.175 1.937.009.537.106 5.263.976 3.762 OCT 4.887 2.582 1.534 1.767 913.528 AUG 1.116 892.661.762 MAR 4.229 6.263.344.510.057 APR 3.349.537.699.117 5.256 1.839 FEB 4.559 2.057 MAR 3.009.970 830.614 3.537.338.546.523.528 SEP 3.827.004.761.057 DEC 3.952 6.053 2.875.678 Table 5-22 Total Sale of 5 years NOV 3.033.381 JUN 2.057 Sale.875.661.537.952 6.768.057 OCT 3.688 MAY 1.198 8.510.090.576.229 6.875.116 892.614 3.537.839 OCT 4.689.970 830.827.336 2.976 3.1.516.516.203.263.534 1.940 1.688 FEB 3.534 1.875.791 755.004.839 APR 4.827.080 Sale.117 5.461. 2012 Cash Accounts Receivable Total Sale JAN 3.033.349.523.827.974.123.767 913.6 Total Sale Sale.919 JUN 2.183 4. 2014 Cash Accounts Receivable Total Sale JAN 4.762 FEB 4.256 1.582 1.937.661.131.614 3.523 1.057 MAY 1.510.117 5.333.559 2.919 SEP 4.510.974.689.117 5.699.117 5.952 6.827.057 NOV 3.009.090.090.080 DEC 3.534 1.452 AUG 2.761.839 MAR 4.688 APR 3.063.116 892.090.263.661.974.678 OCT 3.824 4.528 JUL 1.887 2.123.462 FEB 2.582 1.462 MAR 3.944 1.944 1.523.452 JUL 2.082.263.229 6.761.689.131.229 6.009.009.461.381 SEP 4.131.952 6.117 5.875.043.976 3.875.762 DEC 4.045.844 JUN 1.338.952 6.523.106 5.534 1.033.276 APR 3.P a g e | 160 5.919 AUG 2.082.762 APR 4.528 JUN 1.336 2.944 1.183 4.768.839 NOV 4.839 DEC 4.689.082.944 1.791 755.582 1.347.043.699.045.534 1.614 3.229 6.093 1.033.767 913.582 1.053 2.839 .887 2.887 2.767 913.106 5.053 2.762 MAY 2.974. 2013 Cash Accounts Receivable Total Sale JAN 3.940 1.940 1.537.688 MAR 3.952 6.699.344.090.090.106 5.762 Sale.033.229 6.844 SEP 3.175 1.304.887 2.033.844 AUG 1.939 3.970 830.117 5.523.503 4.887 2.940 1.761.516.534 1.582 1.699.661.827.699.952 6.523.009.510.263.952 6.229 6.688 OCT 3.976 3.482.344.009. 2011 Cash Accounts Receivable Total Sale Beginning 8.045.689.661.661.004.

while money available today can be invested and grow.3.797 NPV > 0 This project we can accept.  Consider both magnitude and timing of cash flows  Indicates whether a proposed project will yield the investor’s required rate of return Disadvantage  Many people find it difficult to work with a dollar return rather than a percentage return (Source: http://www. because inflation erodes the buying power of the future money.2 IRR Internal rate of return (IRR) is a rate of return on an investment. IRR = 2 2 > 0.2.2 Investment Criteria 5.1 NPV (net present value) 5.P a g e | 161 . A dollar today is worth more than a dollar in the future.investopedia.1 NPV Net Present Value (NPV) is a way of comparing the value of money now with the value of money in the future.2.com/study-guide/cfa-exam/level-1/corporatefinance/cfa13.275.asp)  5.12 This project can be accept . The IRR of a project is the discount rate that will give it a net present value of zero. Advantages and Disadvantages of the NPV Method: Advantages Consistent with shareholder wealth maximization: Added net present values generated by investments are represented in higher stock prices. NPV = 128.

investopedia.2.asp)  5.pdf) . The IRR does not distinguish between a lending (investing) or a borrowing (borrow and invest) situation.edu.3 Payback period The payback period is both conceptually simple and easy to calculate.P a g e | 162 Advantages and Disadvantages of IRR Advantages  People feel more comfortable with IRR  Considers both the magnitude and the timing of cash flows Disadvantage  Multiple internal rates of return with unconventional cash flows any change in sign (+.-) in period cash flows produces as many IRR’s as there are changes in the cash flow directions of the investment. It is also a seriously flawed method of evaluating investments.com/study-guide/cfa-exam/level-1/corporatefinance/cfa13. whereas the NPV clearly points out the negative aspects of the borrowing strategy (Source: http://www.69 year Advantages  Measure of risk and liquidity  Useful for evaluating small projects Disadvantages    Ignores the time value of money Ignores cash flows after the payback period Objective not consistent with shareholder wealth maximization (Source: http://faculty. Lending or borrowing. PB = 0.kfupm.sa/FINEC/mfaraj/fin301/notes/Ch7.

38 .00 62.00 75 80 67.00 138.00 1.P a g e | 163 5.00 63.12 1.29 1.00 58.19 1.2.4 Break-event point Table 5-30 Breakeven Point Break-even point Sales price RSS Sales price STR Low Cost High Cost Low Profits RSS Low Profits STR High Profits RSS High Profits STR Low Break-event point RSS Low Break-event point STR High Break-event point RSS High Break-event point STR Price per Unit 142.

P a g e | 164 Chapter 6 Risk Management .

All problems can be solved. If we look at those matters. Integrity Risk.1 Human resource Risks occur at any time. knowledge and education. The company can solve immediate problems correctly. and Technology Risk. For achieve the company's business. Our company operates by separate following characteristics of the risk. talent. we will be able to manage it. In terms of personal selection employee. There are          Human Resources Product Development Efficiency Capacity Product / Service Failure Health and Safety Manufacturing Equipment Modernization Development of New Produces Changing in Business Practices The risks are often internal on the company such as 6.Risk Management 6. So the companies will be able to solve these risks is encouragement of the staff. Experience in working or through training before working. most of the risk occurs within the company. It must be developed and improved over time. it also therefore the Thai North Rubber company have the human resource management to more value in the organization. in this section we cannot know that how employees come to work such as Person Competency.1 Internal Analysis P a g e | 165 Risks within the Thai North Rubber company. So when we select the personal to working we cannot predict what is happening or will happen with each employee.1. The company has the Operating Risk. The . For this reason the company has difference the department. we can control but how risk can happen?. This is the most important of the reason.

Which may have Knowledge and ability to work according to plan or goal to the company successfully but to the various activities will be faced with the changes always on time? Under changing conditions changes to the new environment may be violent that exceeds the capabilities of the executives .1. Good the Weather and pollution. The last can make a job well. Along with maintaining equipment and care the equipment and related safety equipment for such as all of employees will receive health care.1.2 The limits of the employee All employees in the company would have limited the ability in the internal environment. That will lead to failure at any time in the practice these jobs. Therefore the executives should be interested in some details of the employees is important.4 Health and Safety The company operates for confidence to good health. 6. and has been helping.P a g e | 166 company's welfare when they get these things. and the employees themselves. a training seminar. Therefore. He will be expressed in terms of working in a better way. Risk management organization that will certainly have to face another variation is to change the economic. 6. social and political environment that may lead to failure as well. Each the positions are different mutual benefit. use of equipment to secure the places. Build the confidence to the employee and customers. Conditions of operation of the company to success or failure depend on the environment on economy.1.It would risk performing their duties. 6. the company has been certified safe. And get maximum satisfaction to the company. society and politics. including medical employees.3 Changing operating environment. which have to changing on always time. .

with exports accounting for more than two thirds of gross domestic product (GDP).P a g e | 167 6.2.th/businessnews.10 percent in March of 1998.co. Sometime a majority interest may be vested in the company's operators are foreigners (Host Country Enterprises) more than the business operators who area (Home Country Enterprises).php?id=409693) 6. For example. and generally pro-investment policies. From 1993 until 2010.10 percent in September of 1993 and a record low of -5.20 percent in the third quarter of 2010 over the previous quarter. Thailand's average quarterly GDP Growth was 0.2. in the last 20 years.2.1 Political Factor According to the form of politics has the potential to become important to the general business environment and domestic political institutions and political changes frequently and security instability that often cause no rules changes and most changes are often affected lack a stable image of politics in the support and plug pressure policy of government to channel the business sustainable. Thailand has changed the Prime Minister from the political party differences and how they are the party in the country at different so business in Thailand will need to review and analyze that thing happened and what will follow in the policies that affect both direct and indirect business organizations and their very often. Generation to make trade operators will also need to study and attention to factors that regulates international trade agreements such as to make free international trade and agreements are often the leading economic countries than any other segment. (Source: http://www. Well-developed infrastructure. The economy of Thailand is an emerging economy which is heavily export-dependent.2 External Analysis 6.arip.2.1 Economic growth THAILAND GDP GROWTH RATE The Gross Domestic Product (GDP) in Thailand contracted 0. a free-enterprise economy. made Thailand one of East Asia's best .2 Economic Factor 6.97 percent reaching an historical high of 7.

Office of National Economic and Social Development Board) Gross domestic product at current market prices valued at 2. Exhibit 6-1 GDP Grow Rate Country Interest Rate Growth Rate Inflation Rate Jobless Rate Current Account Exchange Rate Thailand 2. This page includes: Thailand GDP Growth Rate chart.1 billion baht.80% 1. eroded investor and consumer confidence.20% 2. After deducting 153.4 billion baht in 2Q2010. historical data and news. After incorporated net factor income and net . However. 2010.8% in real terms. rising at the rate of 6.25% -0.7 billion baht.3 billion baht of net factor income from the rest of the world.494.341.P a g e | 168 performers. the gross national product (GNP) registered at the value of 2.0300 Figure 6-1 QGDP Grow Chart (Source: Gross Domestic Product: Q2/2010. Balance of trade and services at current market prices registered a surplus with the value of 158. overall economic growth has fallen sharply in 2008 and 2009 as global downturn and persistent political crisis stalled infrastructure mega-projects.20% 2909 31. published August 23.

producer price index and consumer price index increased by 9. As economic growth is measured as the annual percent change of National Income it has all the advantages and drawbacks of that level variable.8% in previous quarter. GDP implicit price deflator in 2Q2010 increased by 3. the amount of growth may be overstated once we take pollution into account. But people tend to attach a particular value to the annual percentage change.0 billion baht.e.3% compared to 12. i.3% and 3. The real GDP per capita of an economy is often used as an indicator of the average standard of living of individuals in that country.P a g e | 169 current transfer from the rest of the world. there are some problems in using growth in GDP per capita to measure general well being.8% compared to 4. Economists have developed mathematical tools to measure inequality. In economics. GDP per capita does not take into account positive externalities that may result from services such as education and health." which is caused by growth in aggregate demand or observed output. GDP per capita excludes the value of all the activities that take place outside of the market place (such as cost-free leisure activities like hiking). it should always be viewed merely as an indicator and not an absolute scale. such as the Gini Coefficient.0% and 3. and economic growth is therefore often seen as indicating an increase in the average standard of living. respectively. i. GDP per capita does not take into account negative externalities from pollution consequent to economic growth. or GDP. perhaps since it tells them what happens to their pay check. Thus. thus.GDP per capita does not provide any information relevant to the distribution of income in a country. current accounts showed a surplus with the value of 42. It is conventionally measured as the percent rate of increase in real gross domestic product. Economists are well aware of these deficiencies in GDP..e.5% in previous quarter. inflation-adjusted terms.)The flaws of GDP may be important . production at "full employment. "economic growth" or "economic growth theory" typically refers to growth of potential output. Growth is usually calculated in real terms. Economic growth is the increase in value of the goods and services produced by an economy. in order to net out the effect of inflation on the price of the goods and services produced. However. Meanwhile. There are also alternate ways of measurement that consider the negative externalities that may result from pollution and resource depletion (see Green Gross Domestic Product.

deliver. the differences in the annual growth from country A to country B will multiply up over the years. the second only by 80% A Factor of stable economic environment and impact on business opportunities and threats that include economic stability inflation interest rates of tax rates. the first economy would have grown by 165%.2.com/Economics/GDP-Growth. where the exponent is determined by the PPP annual GDP growth rate. services. Understanding the role that technology plays in enabling core business operations establishes the framework for understanding where relevant technology risks lie. Technology enables key processes that a company uses to develop.aspx?Symbol=THB) 6. and manage its products.3 Technological Factor Technology Risk Technology permeates the operations of an entire institution and therefore technology risk cannot be compartmentalized as a process that focuses on a particular area. and support operations.tradingeconomics. . and total revenue per household. a growth rate of 5% seems similar to 3%. GDP) because GDP is a factor that led to economic growth is and what impact the power consumption (Purchasing Power) of the population as a whole in any direction Entrepreneurs must understand that before the economic environment has the potential to be both positive and negative to which the company will success of failure of strategy of the company as well or used as a key business opportunities or obstacles. for the purposes of economic growth in the long run it tends to be a very good indicator. Policy changes and economic problems government policy to create economic stability (Including the policy to support export and import goods from foreign countries. however. income distribution. Thus. (Source: http://www. follow Economic growth is exponential. There is no other indicator in economics which is as universal or as widely accepted as the GDP. Growth of the population labor market and unemployment rate.P a g e | 170 when studying public policy. but over two decades. Growth of the industry is important currency exchange rates between countries. For example. respectively) and that the majority of attention is products in the initial (Gross Domestic Product.

allaboutrisk. Once these risks have been identified. company management is in a better position to determine the relative importance of these functions and prioritize the systems. (Source: http://www. an appropriate technology risk management strategy can be developed and implemented. Identifying vulnerabilities and threats provides company management with a view of the risks faced by the company given the enabling role of information technology. and data involved.P a g e | 171 By understanding the role that technology plays in supporting various business functions. Technology risks are present throughout the company and must be addressed as a whole.com/technology_risk/index.asp) . applications.

P a g e | 172 Chapter 7 Conclusion .

Chiangkhong district. Our project business is a factory of rubber which has many types for sale. We also provide with only Rubber Smoked Sheet and Block rubber product. political risk. are relate together. Thai-North Rubber also has policy to production with higher quality and tries to develop standard and quality of basic processing rubber to meet the demand as much. respond the higher demand in Chinese market.45% of 4% of North export in Thailand and increase 10% every year. there are 2 mainly zone which are administration zone and one for Manufacturing zone for production in all of 2 products. increasing in demand of rubber in China and growth rate of rubber plant in Chiangrai each year. mainly in higher class of rubber which are RSS1 (Extra light color).000.000 baht that we will offer the interest rate about 12% per year and will pay all of the interest rate at the end of year 5 that we guarantee the all of principal of the investor by we have the backup plan for the investor In the financial analysis that represent in 3 financial statement. Thai-North Rubber Industry have strong in the financial status that also represent in the ratio analysis. STR 5L. We found with many information can be support for market feasibility of this project like which the higher number of rubber export in Thailand. STR 5 and STR 5CV**. Thai-North Rubber Industry is register as the company limited according to the Department of Business Development. STR XL. Thai-North Rubber has a strong in the financial status that also represent in the ratio analysis. it can be acceptable because we also cope with this risk from using the risk management. We buy the land and need to build our building.. . RSS2. RSS1. And the sale forecast feasibility of the potential market. operating risk and etc.P a g e | 173 Conclusion Thai-North Rubber Industry is the rubber processing project that operates in Chiangrai province. although we have the many risk which is the economical risk. The North of Thailand is possible for this project to make a higher profit in rubber industry. We find out the source of funding from the investor 25. Thai-North Rubber Industry can generate sale 0. We focus our product directly to only one main target with China (Specialization Market).

asp Department of Local Administration.thailocaladmin..sa/FINEC/ mfaraj/fin301/notes/Ch7. Retrieved 4 Jan.d.bot. (n. Port Authority of Thailand.allaboutrisk. 2010.edu.) About Chiang Khong. (Oct 28.go. 2009) China Rubber Tires Market and Industry.co.kfupm.international.suite101.co. (n. Retrieved 27 Dec .) Technology Risk.th/english/statistics/ financial markets/interestrate/_layouts/application/interest_rate/IN_Rate.d) Tax labels Retrieved 27 Dec. 2011 Website:http://www1.com/technology_risk/index. Retrieved 16 Jan.co. Becoming No. 2010 Website: http://www. (n.com/content/china-rubber-a163348 Chiang Khong Port. (n.) Chapter 7: Net Present Value and Other Investment Criteria.rubber. 2010 Website: www.) Tariff.manager. from Economic History Services Website: http://eh. Retrieved 5 Jan.th/ckp/eng/dataset5/data1. (31 Jan. Retrieved 4 Dec. Website: http://www.com.or. (October 18. (n. 2010) the International Natural Rubber Market.port. Ltd.co.pdf . 4 in the Thai capital larger Thai-China prepare to set up processing plants. Retrieved 5 Feb. Retrieved 27 Nov. Retrieved 5 Dec.d.asp Bank of Thailand. 2011 Website: http://faculty. Ministry of Interior.th/land-info-top-3. (n. Zephyr Frank (Stanford University) and Aldo Musacchio (Ibmec SãoPaulo) (February 1. 2011Website: http://www1. 2011 Website: http://www.d. Retrieved 4 Jan .pdf Department of Lands. Retrieved 15 Jan.aspx CETECH Group Co.cetechgroup.html Chiang Khong Port.th/ckp/eng/dataset1/data2. 2010 Website: http://www.aspx?NewsID=9530000131252 Anonymous.market Allaboutrisk. 2010) Rubber plantations through the city Peakun implying million hectares.Reference ASTV Managg Online.html College of industrial management. 1996) Deposit Rates for Individuals of Commercial Banks as of 17 January 2011.2010.) Cost/Detail of Sentry Box. (2006) Charges at the Land Office if the Registrar.land.th/Local/ViewNews.th/work/e_book/eb5/eb5_2/tax1. Port Authority of Thailand.d.php Chen Nanyang.d.port. 2010 Website: http://www. 1870-1930.net/encyclopedia/article/ frank.co.th/products.2010 Website: http://www.

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d) Product/Service.2010. And other fees associated with the partnership and limited company Act 1906.aspx?id=1034&content=00262 .th/menu5.org Website: http://www.go.htm Rubber Research Institute of Thailand.asp?id=287 Rubber Research Institute of Thailand. Retrieved 4 Dec . Retrieved 4 Dec . 2006) Ministry of Law. 2011 Website: http://www.th/product-th-353965-1647870 Provincial Electricity Authority. 2011) Auction price and Quantity Retrieved 12 Dec.com/RWmarket_report. Request literature review .2010 Website: http://www. 2010 from FarmKaset.(30 June.pwa. The registration fee. Deputy Minister of Agriculture (February 18.com/Rubber_Marketing_ Research_. 2009)Natural Rubber Supply and Demand forecast and price Outlook. (n.Office Of the Rubber Replanting Aid fund.com/statistic/stat_index.) Thailand rubber price.html Precha Lahapongchana.rubberworld. Retrieved 26 Dec. Insurance.perfect-broker.th/service/newuser. (8 May.th/th/services/services_fee_rates.rubber.co. Retrieved 27 Dec ._Asia Rubber World Magazine.d) Auction price and trading volume of rubber at central rubber markets.2010 Website: http://www. Request a copy of the document with the guarantee.htm Rubber Research Institute of Thailand.) Rubber Marketing Research-Asia. (31 January. 2010 Website: http://www.php Perfect Broker Ltd. (2010) Cost of request Electric and Water. Retrieved 26 Dec. 2010 from Department of Business Development Website: http://www..rubberthai. (n.co.htm Provincial Waterworks Authority.pea.d. ( n.htm Supachai Posu. from Market report for the rubber industry Website: http://www.co. Retrieved 4 Jan . (n.2010.) Thailand's natural rubber production.d.co.2010 From The applicant to install a new water supply must following Website: http://www. Retrieved 26 Dec .com/ price/price_index.th/ mainsite/index.rubberthai.2010 ) Ministry of Agriculture believes in 2010 is the great opportunity of Thai rubber that regain following demand of world market. 2010 Website: http://www.org/contents/defaultToLocalDetails.dbd. (n.php?id=1638 ResearchWikis. Retrieved 6 Dec. Retrieved 26 Dec . from Organizing The World’s Research Website: http://researchwikis. (2010) Fees Rate for using water. 2010 Website: http://www.com/price/eng/price_eng.farmkaset.rubberthai.d. Retrieved 12 Dec.

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Retrieved 11 Dec.org/wiki/Chiang_Rai_Province Yong Fong Machinery Co.wikipedia. the free encyclopedia Website: http://en.wikipedia.d.2010 from Wikipedia.org/wiki/People%27s_Republic _of_China#cite_note-Ref_b-14 Widipedia. (n. (n..) People’s Republic of China.doc&rct= j&q=analysis%20financial%20ratio%20.com/index.co. Retrieved 10 Dec .2011 Website: http://www.) Cutting Machine.doc&ei=JlVATfC7EsOsrAfto7HPAg&usg= AFQjCNG0ijqAZ3nH-_q0kxPUQgyo-n_SwA&cad=rja Widipedia.) Technology. (n. Retrieved 5 Dec.) Financial analysis of business Statement. Retrieved 15 Jan .d..2010 from Info Comm Market Information in the commodities area Website: http://www.d.d. Ltd.th/url?sa=t&source=web&cd=1&ved=0CB8QFjAA&url =http%3A%2F%2Fvictoryrisk. (n. the free encyclopedia Website: http://en.php?langtype=th&pageid=th_40 .2010 from Wikipedia. 2010 Website: http://machine.htm VictoryRisk.d.yongfongthai.unctad.UNCTAD. (n.google.) Chiang Rai Province. Natural rubber (NR) processing into different rubber categories Rubber goods (RG) manufacturing.org/infocomm/ anglais/ rubber/technology. Retrieved 28 Dec.com%2Fimages%2FFinancial%2520Statements.

392.891.000 24.182 4.074.344 6.539 2.677 358.863.630.558 24.209.794.433 128.979.364 668.632 23.397 3.445.483.677 358.677 358.744 223.465 1.044 3.543 4.930.594 145.954 2.216.738.217 234.334.875.677 358.378.Appendix Table Loan Repayment Cumulative Cumulative Principal Interest 108.677 358.859 120.862 111.023 1.913 247.231.006.205.415 24.925.650.481 147.303 441.340.274 554.677 358.677 358.461 22.398 2.766.101 4.967 2.677 358.587 244.131.913 746.922 126.897.981.768 3.161 240.780 2.677 358.780.070 224.257.137.272 136.621.147 1.533 3.383 226.595 21.706 3.948 900.677 358.624.677 358.947 23.000 248.349.368 1.775.677 358.580 5.677 358.677 108.069.677 358.677 358.575 2.252 207.491.607 133.245 229.612.635.700 21.517 117.768 2.187 7.026.094.761 1.757 4.997.073.248 122.000.683 227.992 233.697 24.791.300 3.991 139.375.553.676.500.912 216.780.197 4.799 5.764 110.261.930 8.677 358.197 210.508.239 23.294 132.364.460 123.219.508 2.677 358.331.852 5.099.677 358.677 358.677 358.405 222.933 135.994 23.371 140.162.673 2.506 231.052 220.726.853 23.949 2.442 329.699 23.585 783.535 23.239.682 118.991 7.479 1.323 24.172 7.375.677 358.677 358.781.402.625 137.047 121.685 124.436 1.862.677 358.677 358.220 22.018.749.827 3.899 Payment Principal Interest 358.429 236.243 20.677 358.363 116.006 1.425 22.314 242.688.179 Year 1 Month 1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 27 28 29 30 31 32 33 34 35 Balance 25.033 22.931.677 358.232 21.324.173 143.505 215.527.425 150.819.558.919 7.742.994 131.868.474.650 5.607.758 206.677 358.926.677 358.052 24.677 358.446 1.647 212.844 6.525.811 4.636 24.192.331 3.970 113.397.053 1.819 238.499.294 21.729 993.261 6.249 2 3 .189 20.707 129.659.454.670.002.428 250.395 5.816 246.037 3.221 115.677 109.554 23.732 209.250.624.301 1.968.083 213.467 21.756 6.925.030 146.321 22.677 218.327 22.972 2.000 498.306 217.630 237.677 358.945 149.124.551.919 152.677 358.677 358.529 250.765 142.818 20.603 21.679 2.449.686 219.538 6.171 127.028 22.456 243.707 245.090 114.794 1.995 239.513 4.116.299 4.208.792 3.068.726 24.669 21.677 358.677 358.756 232.970 228.405 3.224.492 22.

073.527 172.677 358.492 157.327 184.668 12.856 Cumulative Cumulative Principal Interest 4.467 10.785 18.965 10.627 193.677 358.047 158.779 9.717 12.283 12.735 16.117.231.306.483 14.375 14.034 6.089 8.578 17.730 191.215 231.728 17.488 18.318.588 138.021 5.124.479 197.423 7.198 161.046 13.875.677 358.159.677 358.514.407 136.677 358.271 222.005.416 205.105.994.058 166.717.834 16.173.400 13.785 13.488.680.885 10.543 13.671 13.414 8.351 174.965 178.171 14.510 13.424 165.731.377 9.241 12.847.677 358.159 14.748.299.677 358.727.653.677 358.316.525.969.870 19.840.734 180.408 201.274 6.002 144.026 20.545 14.618 186.485.278.547.581.156 11.240 11.522 182.976.507 233.677 358.677 358.228 12.050 165.677 358.079 9.806 163.677 358.677 358.272 7.677 358.994.580 211.686 170.677 358.023.582.629 11.806.946.166.909.793 215.474 196.992 187.200 183.979 131.463 127.471 20.005 16.927 13.090.941.847.228.677 358.184.677 358.619.811.677.434.171.720 15.715.474.928 19.512 6.176 14.677 358.836.434 199.839 6.319.719 8.445.799 12.190.156 176.179 11.677 358.943 178.917.677 358.644.698 226.172 149.462.511.005.526.260 8.212 176.861.267 10.931 12.111 15.803.930 218.809.060 198.513.921 15.149.312.138.878.311 17.725 203.677 358.422 7.677 358.615 12.739 14.157 19.677 153.090 220.882.481.185 201.252 9.665 12.872 195.230.397.700.244 159.732 129.577 17.894.122.465 181.282.361.619 191.677 358.677 358.843 5.505 209.544 195.355 15.275 17.756 10.086 14.329 11.903 8.822 204.294.122 11.802 10.082.681.429 14.452.926.980.261 10.072 5.286.274.269 157.638.677 358.278 11.519.097 147.852 189.450 207.677 358.426.842 11.575 5 49 50 51 52 53 54 55 56 57 58 59 60 6 61 62 63 64 65 66 67 68 69 70 71 72 7 73 74 75 76 77 78 .826 168.677 358.108.760 173.517 10.725 7.997 12.486.376 170.478 175.677 358.635.677 358.677 358.635.945 7.677 358.275 155.677 358.676 213.472.979 19.630 200.677 358.265 8.227 151.513 15.053.746.261 153.244 14.687.928.725.620.917 185.760 13.705.965.772 12.677 358.586 16.677 358.747 140.130 5.364.974 4.677 358.889 9.677 358.273 13.689 7.473 224.204 133.002.124 9.379.480.103.302 188.695 15.709 168.487 9.677 358.163.268.361 19.562 Payment Principal Interest 358.196.691 14.997 9.563.969 190.352 19.Year 4 Month 36 37 38 39 40 41 42 43 44 45 46 47 48 Balance 20.945 229.826.637.150 185.204 161.171 124.841 10.618 160.600 11.402 203.305 9.060 171.815.152.069 12.828.438 12.166 8.835.953 155.549 15.677 358.731.482 4.308.691.885 142.473.272.034.073 11.648 5.645 9.346.378 16.161 18.677 358.215 6.058.947 167.030.966 18.322.518 20.002 10.377.354 14.134 163.055 17.254 193.309 10.713 179.602.995 8.639 5.431.764 14.446 13.622 8.677 358.726 18.677 358.

478 17.111 268.653 17.851.047.415 17.721.814.902 20.677 358.677 358.677 358.677 358.641 43.491 324.997 10.173 19.733 18.597 17.201 92.963.450.677 358.761 78.445 24.683.927.521 40.294 16.549 7.677 358.141.550 17.269 17.467 17.451.876 17.403 16.990.899.689 253.476 266.003 14.156 117.036.036 315.733 6.786 58.707.294 23.950 100.537.222.236.292.731 15.549.868 263.294.242 16.547 1.960.579 5.714 18.794 17.677 358.035.682 348.349 17.960 17.641 8.143 3.269 344.118.119 14.484 2.677 358.724 27.421 19.545 337.218 84.453 23.798.408 13.677 358.736 355.100.525.935 17.677 358.164 13.503 81.298 8.797 16.892 299.952 296.790 49.807.941 13.233 334.971 30.725 61.176.633 17.644.727 258.677 358.947 312.580 11.019 15.927.269 9.677 358.705.020.160 291.442.888 308.548.818 52.758 8.581.171 16.042 293.087 10.420 13.463.206 250.772 271.677 358.704.037.370 70.152 11.312 19.821.380.836 11.369 37.948.418.160 238.823.984.677 358.192 10.195 255.032 20.427 18.174 276.134 4.076 16.817.718.881.381 15.952.666 18.397.264 24.471.890 341.688 5.251 2.272.677 358.517 120.677 358.470 16.201 16.677 358.000.352.517 67.195 73.771 115.866 20.685 282.625 17.634 3.530 8.413.040 7.551 Cumulative Cumulative Principal Interest 12.558 17.527.749 248.281.278.677 358.563 22.059 11.677 358.942 3.604 16.774.810 95.Year Month 79 80 81 82 83 84 Balance 12.030.520.000 15.469 18.677 358.921.135 24.677 358.634.026.081 4.973.953 331.285 8 85 86 87 88 89 90 91 92 93 94 95 96 9 97 98 99 100 101 102 103 104 105 106 107 108 10 109 110 111 112 113 114 115 116 117 118 119 120 .967.117 18.731 46.201.827 5.677 358.662.988.015.916 279.919 20.743.307 288.677 358.244.058 21.985 9.531 6.777.404.124 7.989 105.677 358.516 22.677 236.256.780 17.677 358.706 327.860 302.051.098 4.619.865 706.817 55.186 33.054.041.126 Payment Principal Interest 358.589.251 16.968 4.072.885.593 16.745 17.184 23.780.943.677 358.769 16.730.208 7.720.466.116 17.647.344.600.362 112.093 15.293.749 22.308 321.472.792 17.006.577 17.267 18.913 14.763.522 7.536.117 9.677 358.927 17.848 13.677 358.664.471 107.335.067 3.891.309 15.636 64.857 21.479.156 318.630.602.009.393 97.039.351.702 16.202.285 260.916.677 358.259.677 358.973.366 21.740 12.249 15.482 102.126 122.460 274.881 10.677 358.178.133 20.316 245.677 358.340.677 358.816 1.787 17.610 355.522 240.337.015 15.482 285.740.883 15.677 358.992 76.359 16.808 14.122 18.874 25.251.945.744.078.780 16.677 358.255.586.437 2.219.581.677 358.677 358.995 10.677 358.706 1.129 351.677 358.128.928 110.677 358.905 87.399.573 6.052.859 305.566 89.994 17.677 358.205 17.907 243.278.721.098 17.

6250 6.4000 7.5015 15.0000 15.5838 11.2500 6.0000 6.1000 22.8750 7.1638 6.6200 6.0000 7.5000 7.Daily interest rate of commercial banks Loan Rates Commercial Banks as of 17 January 2011 Bank Commercial Banks registered in Thailand Bangkok Bank Krung Thai Bank Kasikornbank The Siam Commercial Bank Bank of Ayudhya TMB Bank The Siam City Bank United Overseas Bank (Thai) Company Ltd.0000 24.7500 8.0000 25.0000 28.5000 6.0500 7.0000 28.6250 6.3750 6.0000 20.0000 28.5000 6.0000 7.5000 7.0000 7.0000 28.0000 35.0000 20.0000 12.3750 7.0000 6.1250 7.0000 20.0000 28.0000 18.0000 28.0000 28.7791 7.3750 MOR MLR MRR Ceiling Default Credit Card .1500 7.0000 20.0000 7.9800 6.0000 18.8750 28.0000 35.0000 28. CIMB THAI Bank Standard Chartered Bank (Thai) Thanachart Bank TISCO Bank Mega International Commercial Bank Kiatnakin Bank Land and Houses Retail Bank Industrial and Commercial Bank of China (Thai) The Thai Credit Retail Bank Average of Commercial Banks registered in Thailand 6.0000 18.0000 8.3750 11.3750 6.1000 7.0000 20.0000 20.0000 21.5000 6.2500 8.3700 6.3750 6.0000 7.0000 21.3750 7.9950 7.0000 8.7300 7.0000 28.0000 21.0000 7.5000 7.4800 7.0000 19.0500 19.1500 7.0000 28.7500 6.0500 22.0000 15.9000 7.0000 24.0000 6.9000 6.0000 22.5000 7.0000 21.5000 14.3750 7.5000 8.2971 20.6250 6.7500 8.0000 28.2500 6.0000 15.6300 6.0000 28.0000 28.

7639 25.2500 22.0000 25. JP Morgan Chase Bank Credit Agricole Corporate and Investment Bank Bank of America.0000 19.0000 13.0000 7.5000 13. 2005 Exclude Interest rates of Personal Loan under Supervision " .0000 50.aspx#) .5804 6.m.2500 8." means no service for this type of transaction.0000 20. RHB Bank Berhad Oversea Chinese Banking Corporation The Bank of China Mizuho Corporate Bank.0000 20.6300 15.5000 8.5000 7.2500 9.0000 7. Ltd.2500 7.8750 8.7500 8. MOR =Minimum over draft rate.0000 7.5000 9. BNP Paribas Average of Foreign Bank Branches MOR MLR MRR Ceiling Default Credit Card 10.2500 8.00 p.0000 7. MRR=Minimum retail rate (Source: http://www.7500 6. * Since July 1.0000 20.0000 8.0000 15.8087 20.bot.7500 8.0000 14. National Association Indian Overseas Bank The Royal Bank of Scotland N.0000 32.7500 8.0000 .0000 8.0000 9.8750 8.20.2500 6.0000 45.9900 14.0000 15.2500 10.5417 11.5000 8.0000 20.th/english/statistics/financialmarkets/interestrate/_layouts/application/interest_rate/IN_Rate.2500 8.0000 25.0000 11. MLR=Minimum loan rate.7500 7.5000 6.2500 25.0000 13.7500 50.2500 7.0000 7.0000 8.0000 Information as of 12.0000 14.0000 8.2500 7.0000 14.0000 8.0000 13.7500 21.7500 8.5000 7.2500 22.7500 10.7500 9.3750 8.2500 7.Bank Foreign Bank Branches The Bank of Tokyo-Mitsubishi UFJ Citibank Sumitomo Mitsui Banking Corporation HSBC Deutsche Bank AG.5000 8.0000 20.0160 25.0000 19.or.V.0000 19.0000 23.

199 261.435 5.030.939 6.622 358.512.432.498 4.786 752.896.346.000 270.847.645.724 3.000 261.680 1.505.230 2.781 2.11 Nov-11 Dec-11 Jan 1.040 200 261.396 3.015.199 1.622 358.015 849.727 Aug 1.425 4.677 Mar 1.622 358.000 270.677 2.831 772.622 358.787.016.760 Feb 1.956 3.000 261.908 6.255 2.589 1.200 261.396.253.622 358.801.518.591 Oct 1.1.182 Jul 1.435 6.935.887 Jun 1.677 3.786 752.908 6.425 270.331 752.834. 2012 Description Cash Account Receivable Total cash receive Cost Sale Administration expense Pre opening Loan Supply Expense Tax Total cash paid Total cash 3.372 358.104 3.171.695 5.787.015 849.052.695 2.677 Jul 991.856 1.982.360 1.677 Nov 1.939 6.016.650 13.000 261.000 270.396.016.495.289 3.042 358.435 5.636.698.432.930.926.028.717 5.026 Feb 1.165.234.000 261.265 2.677 May 991.821.498 4.255.132.306.622 358.419 598.445 5.353 1.924 2.234.385 1.098.015 849.432.443.500 261.435 5.677 2.396 261.346.056.425 200 261.539 3.622 358.704 3.015 849.677.007 424.062.040 4.917 1.826.419.306.419 598.435 5.339 3.794.622 358.939 6.875.425 200 261.044 1.351 6.016.222 261.622 358.942.088 3.411.261.492 4.372 358.956 Dec 1.388 3.213 6.622 358.197.478.717 5.425 261.016.248 4.545.498 4.677 2.743.875.407.521 6.700.199 1.677 2.016.171.189 2.677 2.222 324.677 Dec 1.742.924 2.007 424.711.213 6.677 2.196.677 2.190 501.256 1.427.717 4.315 1.432.636.190 501.523 2.982.969 Apr 1.677 2.925 Mar 1.378.603 7.761 .556.666.435 6.740 733.327.007 424.071 1.930.396.677 13.622 358.474 3.358 Sep 1.474 2.729 May 1.589 4.982.939 6.040 200 270.425 200 261.997 2.831 772.042 701.446 1.199 4.179.068.711.372 358.795 1.982.603 7.622 358.665 1.007 424.856.924 3.677 Aug 991.677 Apr 1.334.622 358.7 Source of Cash Source of Cash.677 2.083 1.677 Oct 1.306.171.995.859 2.677 2.327.992 1.958 Jan 1.309.622 358.225.760 358.435 6.636.677 82.377 1.175 1.016.821.943.015 849.800.171.677 2.307 2. 2011 Description Cash AR Total cash receive Cost Sale Administration expense Pre opening Supplies Expense Loan Total cash paid Total cash Beginning 8.677 Sep 1.982.274 3.213 772.432.982.622 358.982.040 261.911 1.649.969.190 501.756.740 733.545.015 849.935 2.000 270.591.190 501.425 200 319.636.636.425 4.908 772.700.339 2.042 3.457 2.926.384 2.372 358.465 9.814 1.126 2.303.756.274 Nov 1.677 Jun 991.072.435 4.992 1.372 358.200 261.982.354 2.015 849.372 358.717 5.053.645.465 8.021.622 358.631 2.015 849.975 1.307 Source of Cash.452.5.019 1.801.306.708.213 Otc.

470 200 319.677 2.152 3.490 Source of Cash.969 2.216 934.554 Sep 2.108 467.743 2.812.622 358.398.816 5.398.378 4.378 Nov-13 Dec-13 Jan 2.328.761 2.238 1.007.199.410.244 200 319.180.387.027.824.119 513.027.269.793 Jun 1.677 295.261.079 3500 261.238 1.677 Jul 1.543 2.106.505.216 934.119 513.470 3500 270.622 0 358.108 467.908 4.189 4.435 849.387.238 1.489 2.622 0 358.180.398.677 2.120 2.622 358.004 2.812.070 2.510.398.789.306 1.908 4.602.526.042 0 13.372 0 358.622 0 358.379 2.760 358.199.180.487.622 358.192.955 3.007.969 2.216 934.800.090.149.708 2.293.838.244 3.500 270.585.816 4.240.119 513.812.027.398.769 1.908 4.199.108 467.908 4.323.031.216 934.816 5.244 3.579 2.387.470 200 261.622 0 358.192.108 467.927.817.622 0 0 358.841 2.793.470 0 270.007. 2014 Otc 2013 Cash Accout Receiable Total cash receive Cost Sale Administration expense Pre opening Supply Ex lone Tax Total cash paid Ttotal cash 1954708 1789370 1252489.378 4.339 Oct 2.622 358.101 2.677 Nov 2.412 Feb 2.372 0 358.244 261.246.651.507.732.821.031 1.185 2.061.256 1.027.156.387.743 1.244 200 261.820 261.099 May 1.941.398.149 1.677 2.641.816 5.435 Nov-12 Dec-12 Jan 2.959 Jul 1.771.192.069.677 Mar 2.677 Dec 2.883.677 2.216 934.794.743 2.180.960.677 Oct 2.238 1.090.677 2.879 2.192.470 200 261.180.326 Aug 1.410.776 1.776.040.238 1.677 2.677 Aug 1.820 200 261.106 2.812 1.622 358.244 200 261.868.677 Feb 2.216 934.622 358.119 513.378 4.079 200 261.824.803 3.786.677 Jun 1.473 1.435 849.923 2.677 2.398.027.519 2.419 1.597 2.378 934.484 2.677 2.504 2.427.199.027.293 1.140 Mar 2.523 2.034.450 3.419 2.079.216 934.372 358.370 2.760 358.128.387.410.248 Apr 2.090.373 .622 0 358.622 358.620 2.816 5.969 2.812.079 200 270.930.965 Total cash receive Cost Sale Administration expense Pre opening Supply Expense Lone Tax Total cash paid Total cash 2.192.505 2.526.500 261.717 3.830.378 5.956 3.238 1.042 13.622 0 358.001 Nov 2.526.949.622 358.189 4.387.954.163.378 5.197.031.146.378 934.155.816 5.372 358.027.372 358.500 261.840 1.090.378 4.180.146.328 3.793 2.189 4.252.076.372 0 358.677 Apr 2.331 1.397 2.816 5.677 May 1.475 1.387.788.216 934.622 0 0 358.019 2.192.903.722.432 3. 2013 Otc -12 Cash Account Receivable 849.596 2.Source of Cash.180.378 4.470 0 261.244 270.561.189 4.816 4.329 2.131 934.398.180.155.572 2.470 3500 261.811.581.820 200 270.238 1.079 0 261.677 689543 4.027.192.357.320 2.474 2.526.677 2.410.238 1.677 2.820 3.298 2.114 Dec 2.244 200 261.020.677 2.677 Sep 2.016.007.470 200 261.332 1.934 2.378 5.625.173.293.

652.061 1.130.399.762 2.731.600.212 261.130.638.061 1.130.367 Sep 2.212 200 261.212 270.027.130.622 358.130.064 Oct 2.622 358.598 6.955 2.600.130.451.677 3.113 3.704 3.031 565.598 5.638.598 6.893.057 2.363 3.816 Nov-13 Dec-13 Jan 2.261 3.677 2.238 Mar 2.083 .816 1.600.279.319.500 270.864 200 270.622 358.131 1.622 358.638.212 3.652.212 200 319.Source of Cash.299 5.727 3.600.273.652.600.604 Apr 2.677 2.622 358.291.677 2.891 1.061 1.663 3.220.220.711 3.496.031 565.130.652.372 358.212 200 261.031 565.061 1.677 2.677 1.223.031 565.600.251 Feb 2.500 261.140.598 4.360 3.319.114.038 2.334.598 5.212 200 261.638.849.761 3.598 6.567.061 1.792 2.282.174.760 358.638.679 1.686 Jul 1.638.220.246.042 13.027.622 358.276.131.212 3.669 4.286.232.816 1.882.912.989.220.677 2.511 2.421 Jun 1.714 Nov 2.273.360.620.299 5.061.299 5.711 3.598 6.157.319.299 5.130.677 1.061 1.500 261.622 358.372 358.129.061 1.600.354 3.672.103 1.864 3.677 2.061 1.677 1.598 6.229.638.814 Dec 2.378.638.163 3.677 1.065.151 Aug 1.523 2.453 3.677 1.372 358.711 2.319.510.622 358.864 261.156.046.553 May 1.373 3. 2015 Otc 2013 Cash Account Receivable Total cash receive Cost Sale Administration Expense Pre opening Supply Expense Lone Tax Total cash paid Total cash 2.027.894 3.864 200 261.

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