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

Business Administration department. This Project is organized into 7 Chapters. Thailand . By Lee La Wa Dee Group we are students of Mae Fah Luang University.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). Chapter 1 Introduction. The information that we use to support this project can practically. We study and operation this business plan to be close possibility. Chapter 2 Industry Profile Chapter 3 Market Feasibility Study. Chaiyawat Thongintr the Lecturers of Project Feasibility Study Evaluation. Chapter 5 Financial Analysis. Mae Fah Lunag University. This project will not happen if we don’t have supported by Mr. 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. Chapter 4 Technical Operation Feasibility Study.

3.2.2 Market Target 3.4 Rubber Industry in China 2.2.5 Activities and Gantt chart 1 2 3 3 4 4 Chapter 2 Industry Profile 2.1 Product 3.TABLE OF CONTENTS Chapter 1 Introduction 1.2.1 Market segment 3.1.2 STP analysis 3.1 Background and significant of the project 1.1.3.3.3 Place 3.3 Summary of Market value 2.3.2.2 Price 3.1 History of rubber in Europe 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 Brand of our company 1.3 Marketing Mix Strategy 3.3.1 Nature of Industry 2.3 History of rubber in Thailand 2.3.1 Market Analysis 3.1.3.4 Sale Forecast/Profit estimate 3.1 Industry and rubber products 2.1.5 Marketing Expend Budget 31 32 32 36 44 49 49 49 51 53 53 54 54 60 62 73 .3.1.3 Rubber Industry in Thailand 2.2.4 History of rubber in China 2.2 PES Analysis 3.1 General Environment Analysis 3.3Positioning 3.2 History of rubber in Asian 2.2 Situation of Industry 2.3 Mission of our organization 2.3 Competition Analysis 3.4 Promotion 3.1.3 Benefits of this Study 1.2 Vision of our organization 2.2 Objective 1.2.1.1 Rubber Industry in the World 2.2 Rubber Industry in Asia 2.2.

2 Income statement 5.1 Logistic Management 4.1.6 Logistics and Transportation cost 4.6 Total Sale 5.4.6 Trademark registration fee.1 Financial Statement 5.8 Depreciation 4.3 Pricing product 4.1.3 Fees for the establishment of the factory 4.2 Investment Criteria 5.2 Block Rubber 4.2 Prepare to be company limited 4.5.5 Production cost 4.7 Total Cost of Pre Opening Cost 4.2 Administration Expense 4.6.3 Balance Sheet 5.3 Administration Zone 4.4.4.5.1.3.1.5.3 Features and Dimension 4.1 Cost of request Electric and Water 4.3 Payback period 5.5 Loan 5.7.7.4 Land Tax 4.2 IRR 5.7 Administration cost 4.2 Building 4.4 Cash Flow Statements 5.3.2 Cost of good 4.1.5 Operating investment cost /Operating expense 4.5 Tax labels (per 500 square centimeters) 4.4.Table of Contents v Chapter 4 Technical Operation Feasibility Study 4.1 Product Characteristic 4.1 Rubber Smoked Sheets (RSS) 4.4 Operating investment cost 4.5.7.4.1 Land 4.4.4 Break-event point 141 142 142 147 150 155 159 160 161 161 161 162 163 . 4.6.1 NPV (net present value) 5.5.4.1.4 Preopening cost 4.3.3 Total Logistic 4.1 Total requirement and the source fund 5.1 Organizational structure 4.2 Inventory management 4.3.6.9 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 5.1.1.

1.1.2 Economic Factor 6.1 Internal Analysis 6.2.1.3 Changing operating environment 6.vii Table of Contents Chapter 6 Risk Management 6.1.3 Technological Factor 164 165 165 166 166 166 167 167 167 170 Chapter 7 Conclusion 173 Reference Appendix .1 Political Factor 6.2 The limits of the employee 6.2 External Analysis 6.2.1 Human resource 6.4 Health and Safety 6.2.

Industry Profile.com. and has been in the public conversation nearly every day for years.353 million tons in 2010. Thai-North Rubber has a strong in the financial status that also represent in the ratio analysis. Technical Operation Feasibility Study.754 million tons to be 3. 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 term of processing rubber industry. . And the total combined NR and SR consumption and production.Exclusive summary Rubber Industry is an issue of Business concern to most Asia.. Thailand's largest rubber exports to China.1 percent are expected for 2010 and 2011. although we have the many risk which is the economical risk. Today Thailand has rubber plantation area by about 15 million hectares of rubber growing areas to support the demand that increasing. political risk. Rubber Research Institute of Thailand. the number increasing in demand of rubber from 2007 there are 2.show the positive growth rates in world rubber consumption of 8. most with 54 % of the export value of rubber. Financial Analysis. Market Feasibility Study. 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. to study in subject of Project Feasibility study and Evaluation 2010. Increase 10% within 4 years. According to rubberword. respectively. ltd. has and will be increasingly dominated by Asian countries. Risk Management and Final Summary. it can be acceptable because we also cope with this risk from using the risk management. operating risk and etc.. Mae Fah Luang University.8 percent and 5. Said that rubber is one of the crops that are important to the economy of Thailand. In China.

P age |1 Chapter 1 Introduction .

(Source: http://www.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. 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.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. You will see why we do this project from this chapter.th/Local/ViewNews.857 rai and are likely to increase much more. Chiang Rai has rubber-largest cities deputy from Songkhla. Surat Thani.manager. Chiang Khong . and Trang. benefit. we decide to take this advantage of rubber in Chiang Rai to study the feasibility of this project. For the Northern of Thailand especially in Chiang Rai. There are background and significant. and brand of our company. activity and timework. Bo Kaew Kwang. That is why.aspx?NewsID=9530000131252 ) . For the market is not worry because in Thailand is most focusing and government support on exports to China reached 39%. 1.co. Chiang Rai is a possible for our business to make high profit and easy to growth in the North of Thailand. Luang Namtha and Lao PDR . objective. Nakhon Si Thammarat. the total of rubber plantation with 18 districts in Chiang Rai up to 347.Huai Sai. Chiang Rai also has the ability to export to South of China via R3A Road. the number of rubber plantations growing a huge leap. And now. Rubber plantation is just the beginning and trends to increased as well. Although with some privates to processing rubber are only a few cases to invest.Overview of Project Feasibility P age |2 This chapter explains about overall of project.

4To education approaches and management strategies of Rubber industry business.1 Know more about the market of Rubber industry business in Thailand.3. 1.3 To study about consumer behavior of Rubber industry in China. .5 Know more about operation and distribution channel of Rubber industry for export products to China.3. 1. 1. 1. team work.3.P age |3 1. 1.2.2.2 Objective 1. 1. etc) 1.3 Get experience from doing this project (management strategies.3 Benefits of this Study 1. 1.2.2.5 To study the feasibility of investment Rubber industry business in Thailand.2 To study operation and the distribution channel of Rubber industry for export products to China.2.3. solving problem.4 Can be applied to real investment.3.2 Know more about consumer behavior of Rubber industry in China. Thailand.1 To enhance knowledge and understanding about analyzing the market feasibility of Rubber industry in Chiang Rai province. 1.

P age |4 1.4.4. 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 .1 Our company name is “Thai-North Rubber” 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.2 Logo is Logo of Thai-North Rubber Company 1.4 Brand of our company 1.3C.

P age |5 Chapter 2 Industry Profile .

Today.Industry Profile P age |6 2.29. Ceylon. Northeast and North have a total of 60 provinces. 4001.hevea brasiliensis .1 Nature of Industry Name: A rubber. A province the most rubber growing areas is Surat Thani.955 million Baht. the hévéaculture developed from the end of the XIXth century in Southeast Asia: in 1876.1. the production in Thailand. On the other hand.0000 other. the latex is collected from a diagonal incision in the tree trunk i. value of rubber products 48.10. Thailand has rubber plantation area by about 15 million hectares of rubber growing areas of southern most Followed by the East Central region included. In 2001 November. It was exploited in the wild state there till the beginning of the XXth century. 4001. Family name: EUPHORBICEAE.757 million baht. Rubber is one of the crops that are important to the economy of Thailand for long time.0000 Smoked sheets. Scientific name: Hevea Braslilensis. seedlings of hevea were shipped to India. Code HS (Harmonized System): 4001. 2.495 million baht and wood products worth 55. the tapping process.1 History of rubber in Europe Where does rubber come from? The hevea tree . 4001.22. rubber is high of economic value with 162. . Common name in English: Para rubber. Singapore and Java and the year after in Malaysia.703 million baht.Today. This action does not affect the health of the tree and the tree wound later heals itself.is originating from Brazil. When a tree matures at the age of 6 or 7 years. Consists of the export value of raw materials are 58. Indonesia and Malaysia represents about 70 % of the world production of natural rubber.0000 Natural rubber latex.0000 technically specified natural rubber (TSNR).e.21.

Then. best known for his discovery of oxygen. 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. most important Aztec god. rubber derived its name. Olmecs. and the first tyres not before the end of the XIXth century. the rubber was used to waterproof some textiles. Joseph Priestley. The first full bandages appeared in 1834.P age |7 Who were the first users of rubber? The Indians of Central and South America (Incas. At the end of XVth century. engineer in Cayenne. 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 ". Mayas. noted that pencil marks could be "rubbed out" by the substance. etc) are known to have used the unique properties of rubber for religious or magical ceremonies e.In England during the XVIIIth century. Indians also found the incredible propriety of waterproofing and used it for their clothes and shoes. Christopher Columbus was certainly the first European assisting to the famous Aztec game with rubber balls representing the Sun. In spite of the enthusiasm of the authors for the extraordinary properties of the rubber. numerous figurines and balls made from rubber moulded were found in the heart of the sacred wells. Aztecs. the properties of rubber were dictated by the surrounding temperature. while it became hard and brittle in . During the hot summer. Why 1839 is an essential date for rubber manufacturing? Prior to 1839. rubber was sticky and malleable. 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.g.

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

In Year 1899. village headman. He was ordered and tires to the species distribution. Including funding assistance instead planted with rubber. A British colony.th/Para1. May be due to Asia has the right elements to grow. and found the best varieties of rubber tires or rubber. Rubber was used to test varieties grown in India for the first time but without success.co. Has rubber been planted in the territories. Since Chumporn province was border province. Disperse in the South East and Northeast. sub district headman. Students who are all sent to a district Chief Officer.3 History of rubber in Thailand Since that is also called "Siam" Estimated after the 1882.htm) 2. The weather.reothai. Thailand has a planted area of rubber and the country about 12 million rai."Phraya Ratsadanupraditmahitsornprakdee" is the same one “Father of rubber" is the leader to bring the rubber tree at Amphor Kantrang. Finally. he found that Peninsular territory is where the rubber will grow best. (Source: http://www. Every time the government has focused on the development of rubber has always been. Grow extensively in the Cape Malays in the very early stages. soil and terrain conditions. 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. Trang province is the first. Then Phraya Ratsadanupraditmahitsornprakdee was sent to learn how to teach people to plant rubber.Which has expanded the rubber from 22 tree species to in the country of Asia.P age |9 high demand of rubber.1. Hevea Brasiliensis species so since the year 2425 (1882) is a rubber. Promote to the people planting. Which is a growing source of new and industrial rubber country? Thailand is a manufacturer and exporter of rubber most of the world. 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. Which at that time the people bring to plant and have expanding the rubber plant area into the south in 14 province. There are set up more responsibility in the research. including rainfall labor readily available. Combine with agricultural and commercial properties of the rubber itself as.

foreign investment and relaxed industrial restrictions allowed the economy to grow rapidly. Into the 21st Century Since 1990. domestically and abroad. (Source: http://www. however.com http://www. China's rubber industry boomed.ehow." A Struggling Economy In the 1930s. as its rubber industry continues to thrive.com/facts_6920005_history-rubber-manufacturing-industrychina. marking the beginning of the rubber industry in China. a new process for rubber extraction in China allowed for a higher yield over an extended time. with the popularization of bicycles and the emerging automobile industry. The Rubber Boom In the early 1900s.ehow. the Great Depression caused the global economy to stagnate. and is expected to rise to first place by 2030. famine and unstable government.html ) Read more: History of the Rubber Manufacturing Industry in China | eHow. (Ref 1 section 3 paragraph 2 and 3) By 1910. producing over 50. During the 1970s and 1980s. rubber consumption has risen steadily. China is currently one of the world's leading rubber distributors. In spite of ups and downs over the last hundred years.com/facts_6920005_history-rubber-manufacturing-industrychina.1.4 History of rubber in China For over a century. The rubber industry was on its way to thriving once again. China's economy was ranked second worldwide in 2010. industry reform. increasing demand for rubber tires led to China's "Rubber Boom. rubber production has been one of China's most profitable industries. China was the largest producer of shoes and a leading exporter of tires.P a g e | 10 2. By 2004.html#ixzz179k8k7AY . For the next several decades.000 rubber products. China's economy struggled as the country faced civil war.

sheets. industrial bands. the first period of rubber’s commercial history. tires. Europeans had begun to experiment with rubber as a waterproofing agent. which grew predominantly in the Brazilian Amazon (but also in the Amazonian regions of Bolivia and Peru). low wages. shoe soles. The best source of latex. the second period.2. . which modified rubber so that it would support extreme temperatures. It was then that natural rubber became suitable for producing hoses. By the middle of the eighteenth century. was increasingly centered in East Asia as the result of plantation development. Uses of Rubber The early uses of the material were quite limited. by geographical accident. was hevea brasiliensis. was the popularization of the bicycle. high wages. Dean 1987). and very high prices. 1870-1930 Natural rubber was first used by the indigenous peoples of the Amazon basin for a variety of purposes. Thus. rubber was used to make waterproof shoes (Dean. Initially the problem of natural rubber was its sensitivity to temperature changes.2 Situation of Industry 2.1 Overview of the Rubber Market. In 1839 Charles Goodyear improved the process called vulcanization. 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. 1983.2. was centered in Brazil. 1987). The first century of rubber was typified by relatively low levels of production. which altered its shape and consistency. In the early nineteenth century. shoes. and other products.1 Rubber Industry in the World 2.P a g e | 11 2. What initially caused the beginning of the “Rubber Boom. from roughly 1910 on. the period following 1910 was one of rapidly increasing production. the milky flui1d from which natural rubber products were made. from the late 1700s through 1900.” however. and falling prices.1.

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

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

net/encyclopedia/article/frank. However. respectively.1 percent over the next three year period. respectively. Hence the world percentage of SR is forecast to decline only marginally to 56. which is lower than that of 23.2.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. A fall off in 2009 is expected for most countries. and much of the growth will mainly be in Asia/Pacific.6 percent. the average annual growth rate for 20092011 will only reach 1. positive growth rates in world rubber consumption of 8. will be even worse than last year and the worst since 1942. however. (Source: http://eh. 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.international.8 percent and 5. an annual growth rate of 1.2 percent by 2011 as compared to 56. 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. The overall evolution of the natural rubber trade and the related tire manufacture industry was toward large volume. expects that the trough of total world rubber consumption may not hit bottom until the end of 2009.1 percent and 0.market) 2. The growth rate.e. 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 sharp decline globally depends significantly on the performance of China.1. Rubber forecasts have been scaled down steadily since the second half of last year.04 million metric tons in 2007. Consumption of natural rubber (NR) is expected to show a sharper increase than for synthetic rubber (SR). This means the decline this year.. Despite a slowdown in demand.1 percent are expected for 2010 and 2011. may be a lot lower than during recent years.3 percent in 2008.0 percent. lowcost production in an internationally competitive environment marked by commodity price volatility and declining levels of profit as the industry matured. The continued increase . leaving the world share relatively stable. NR output is expected to continue to increase by an average of 1.rubber. i. which is forecast at -9. Despite a return of a sharp growth rate.9 percent.97 million metric tons in 2011. The increasing SR shares in Europe will balance out the decline in North America. However.2 Natural Rubber Supply And Demand Forecast and Price Outlook The Rubber Economist Ltd. particularly in major producing countries. This means rubber consumption may only rise to 22.

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

S. Asia continued to experience the aftermath of the economic crisis that hit in 1997.2 Rubber Industry in Asia 2.4 percent in 1998 after 3 consecutive years of gains.asp?id=287) 2.P a g e | 16 high in 2008.2. a substantial drop for a country that has consistently enjoyed growth between 7 and 10 percent. Figure 2-4 Rubber production – U.3 percent to 3. (Source: http://www. In the aftermath of the Asian financial crisis and as a result of sluggish demand in the automotive sector.2 million metric tons.S. world synthetic rubber consumption remained flat at best and by some industry estimates decreased 1. but they may not decline as much if the U. China experienced a decrease in consumption of 0. Asia decreased synthetic rubber consumption 8.4 million metric tons in 1998.8 percent. In 1998. dollar is weakened. Imports from Asia So urce: Trade Stats Express.rubberworld.com/RWmarket_report. Rising stocks will have a negative impact on NR prices.1 Rubber trends Worldwide synthetic rubber consumption reached 10.2. 2008 .2. according to the International Institute for Synthetic Rubber Producers (IISRP).

growing 3. the world experienced a relatively higher increase in the consumption of synthetic rubber. Slower growth for U. particularly if Asian markets fail to grow faster than capacity.4 percent to 1. world synthetic rubber output fell by nearly 2 percent to 9. of synthetic rubber are expected to remain relatively flat in 1999 due to the recovering state of Asian and Latin American economies. (Source: http://researchwikis.S. tempered with unexpected pockets of demand in places like Korea and Venezuela. reaching a level of 3.5 million metric tons. Only Taiwan weathered the Asian storm with an increase in production. ethylene propylene rubber [EPR. mainly because of significant decreases in Asia and Oceania. Exports from the U. China. and Latin America.P a g e | 17 With regard to growth by elastomeric type in 1998.3 million metric tons. China’s production declined 2 percent to 589 kt after 8. according to data released by the IISRP. experienced declines in production in 1998. dropping to(NBR) consumption remained relatively flat at 320 kt. both ethylene-propylene copolymer (EPM) and ethylene-propylene terpolymer (EPDM)] experienced the largest consumption increases. BR consumption was down 3. exports over imports will persist through 2000. still suffering from the 1997 financial crisis and overcapacity in that region.8 percent.9 million metric tons.S. or 3. Acrylonitrile butadiene 0. During that period.1 million metric tons in 1998.com/Rubber_Marketing_Research_-_Asia) . up 5 percent to 428 kt in 1998. Korea’s dropped 2 percent to 530 kt. Japan’s production declined 4 percent in 1998 to 1. Asia’s capacity has continued to grow. SBR consumption remained stable at 0.4 percent growth in 1997–1998.9 million metric tons in 1998 after 3 consecutive years of growth. and India’s plummeted 12 percent to 66 kt in that period.2 percent to reach 814 kt. Most Asian producers. resulting in declining stocks in the second half of 1998.2 percent. According to data collected by the International Rubber Study Group (IRSG).

the game was no longer worth the candle: in order to compete in rubber production.2. would have been mostly rainforest. 1987). these areas. Investment per tapper in Brazil was reportedly 337 pounds sterling circa 1910. The dramatic change has meant that Thailand’s forests have been swapped for cash. 2. . In a sense. 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. Not only were Southeast Asian tappers cheaper. then. the British and Dutch were unable to collude to control production and prices plummeted after 1910. now it is less than 20%. if left uncultivated. 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. 1987). Unexpected sources of uncertainty arose in the technological development of automobile tires. in the low-cost Asian plantations.P a g e | 18 2.2.2.1 Growing Rubber Trees in Thailand Rubber trees grow best on flat low land. Ironically. the new plantation system proved equally susceptible to uncertainty and competition. the United States attempted to set up plantations in Brazil and the Dutch were happy to take market share. In spite of colonialism. Fifty years ago.2 Alternative Southeast Asian Plantations Develop a Low-Cost. Labor-Intensive In Asia. investment was estimated at just 210 pounds per worker (Dean.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.3 Rubber Industry in Thailand 2.which would only have been possible with a vastly expanded transport network and domestic agriculture sector in the hinterland of the Amazon basin. they were potentially eighty percent more productive (Dean. labor-intensive industry.3. 60% of Thailand was covered with forests. with rubber tree plantations now prevalent in Thailand. When the British did attempt to restrict production in the 1920s.

but before they can be planted. the nutrients are replaced. Land that is used for rubber cultivation quickly suffers a rapid decline in the fertility of the soil. soil erosion can often wipe out the life-giving topsoil. 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. Never the less modern day culture seems to put a higher value on material items. over 3 million tons of natural rubber was sourced from Thailand. and destroying rainforest to make way for rubber production produces little reward. as happened at a site that had been cleared for rubber trees in Thailand in 1988.2 Thailand: World Supplier of Natural Rubber The southern part of Thailand has a monsoon climate. . but putting a value on rainforest is more difficult.3. landslides caused by a tropical downpour killed over 300 people and devastated the town of Nakhorn Si Thammara.2% per annum between 2007 and 2009. This climate helps Thailand’s rubber farmers achieve high yields roughly 1. 2. In 2006 alone. After areas are cleared of forest ready for planting of rubber trees. where obviously rubber plantations offer no interest to visiting foreign tourists. Ecotourism is the fastest-growing tourism sector in Thailand.2. In some extreme cases lives have been lost. If you were to calculate the value of the rainforest to tourism in Thailand. it would work out as many millions of dollars every year.76 tons of rubber per hectare – and has allowed Thailand to lead the world in natural rubber production since 1991.P a g e | 19 Putting a value on a rubber plantation is easy. In a village named Kireewong. These already sizeable production levels are projected to increase 2. rather than life-giving rainforests. Simply because there were no trees to hold the ground together to prevent the landslides. which is highly conducive to rubber tree cultivation. Until they are totally depleted and that crop can no longer be grown until. Probably significantly more than is produced from the sale of products produced from the rubber plantations. Tropical rainforests in Thailand offer great value in the area of tourism. This is because growing one crop removes the same nutrients again and again from the earth.

The proximity of its production sites to its destination sites allows for the ‘just-intime’ delivery essential for complex rubber products.4% annual growth rate for global rubber consumption for the period of 2007 to 2009. is expected to experience an annual growth of demand for rubber of 5. rubber bands (8-10%). gloves (13-15%). Ten percent of all the rubber produced in Thailand is used for domestic consumption.771.41 billion. many of which are used by the growing domestic automotive industry. airplanes.P a g e | 20 In fact.673 tons. and South Korea. Major opportunities for investment exist in the production of value-added rubber products. Malaysia. Thailand is optimally located to supply the natural rubber demands of the Asia Pacific region. a renewable resource that presents an attractive alternative to hardwoods timber. the International Rubber Study Group (IRSG) has forecast a 4. Furthermore. 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 . is an increasingly important product in the domestic market as this market raises its environmental awareness. Japan. the United States. 65% is processed into value-added goods. were: China. and elastic (8-9%). Rubber wood. Of this portion. cars and bicycles (46-51%).9% between 2007 and 2009. Over 2. The top five recipients of Thailand’s rubber products. or an estimated US$5. nearly 90% of Thailand’s natural rubber production is for export. This rise in demand will predominantly originate in the Asia and Pacific region. in terms of export values for 2006. This region. such as tires and tubes for motorcycles. which accounted for 54% of the total rubber consumption in 2006. of natural rubber was exported in 2006.

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

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. nearly 3.1 million tons of natural rubber was produced in the country. More than 2. dominate the rubber plantation landscape. 2. 90% of which are located in southern Thailand. Malaysia. the rubber sector itself is controlled by large processing plants that purchase the material via local dealers.6 billion in 2012. the European Union and the United States.26 billion worth of natural rubber was exported in 2009.76 tons of rubber per hectare – and has allowed Thailand to lead the world in natural rubber production since 1991. The top five destinations for Thailand’s rubber products in terms of export value that year were China.4 Lively Export Sector Nearly 90% of Thailand’s natural rubber production is for export. The already sizeable production yield is projected to increase at least 2% per annum.3. .7 million tons or US$4. However. holding 95% of the planting area. According to projections by the Office of Industrial Economics.2. In2009 alone. Small landholders. which is highly conducive to rubber tree cultivation. Japan. This helps Thai rubber farmers achieve high yields – roughly 1. the country’s rubber product exports could reach US$6.

The proximity of the country’s production sites to regional markets allows for the just-in-time delivery essential for complex rubber products. cars and bicycles (46-51%). Growth is being fueled largely by rising demand in the Asia-Pacific region.3. Thailand is optimally located to supply the Asia-Pacific’s natural rubber requirement. 65% is processed into value-added goods such as tires and tubes for motorcycles. 2. .6 Value-Added Rubber Products Ten percent of all rubber produced in Thailand is used in domestic consumption. a renewable resource that presents an attractive alternative to hardwood timber.5 Thailand: Strategic High-Demand Region The International Rubber Study Group has forecast 5. Rubber wood.1% and 5.3. Of this portion.8% growth for global rubber consumption in 2010 and 2011.3. is an increasingly important product in the domestic market amid greater environmental awareness.2. rubber bands (8-10%) and elastic (89%). airplanes. gloves (13-15%). respectively.P a g e | 23 Figure 2-6 Thailand’s Natural Rubber Export Market 2009 (Source: Rubber Research Institute of Thailand) 2.

. expansion of production capacity is in the works.3. in February 2010 hosted the opening ceremony of its newly established Bridgestone Retread Center.900 to 7. Ltd.3. Dunlop Other rubber products: Top Glove. Ltd. trade associations and R&D institutions are actively promoting the growth and competitiveness of the rubber industry.3.. boasting high investment efficiency and manufacture of high-quality radial tires at the Amata City Industrial Estate in Rayong Province. opened its factory with a new production system.200 units. Michelin-Siam.  Goodyear (Thailand) Public Co.3. 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 4.9 Supporting Organizations  Thailand’s government.  Dunlop Tire (Thailand) Co. Kasetsart University      Prince of Songkhla University Department of Industrial Promotion Thai-German Institute Rubber Estate Organization Polymer Society (Thailand) . Already. 2.3.8 Thailand’s Growing Tire Industry  Thai Bridgestone Co. Thai-Bridgestone. Ansell 2.7 Thailand’s Major Rubber Product Companies Tire products: Goodyear. Ltd.P a g e | 24 2. 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..

2. . Total: 5.2.50 million metric tons of rubber in 2008. The consumption keeps increasing due to the booming automotive industry.8% of the world’s total consumption (22. Rubber consumption in the Chinese market in 2008 by industries: 1. As such. Driven by the automotive industry. increased 10% in 2008. Pipe and Belt: 450 thousand metric tons.4 Rubber Industry in China 2. 6.2. China Rubber Industry Chen Nanyang The 2008 consumption increased 6% from the 2007 level mainly due to the booming automotive industry. 3. Tire (sans cycle tire): 3.18 million metric tons). Footwear: 400 thousand metric tons. projects receive an eight-year corporate income tax holiday and are exempt from import duties on machinery. Others: 180 thousand metric tons. the main rubber finished products.4.P a g e | 25 2. China's output of tires. 2. accounting for 24. 4. Emulsion: 200 thousand metric tons.3.3.50 million metric tons.1 Chinese Rubber Industry and Market China consumed a quarter of the rubber in the world.10 Attractive Investment Incentives The Board of Investment has classified the manufacture of natural rubber and rubber wood products as a priority activity. 5.85 million metric tons. China consumed 5. Cycle tire: 420 thousand metric tons.

com/content/china-rubber-a163348 .16 million metric tons. 4. Emulsion: 60 thousand metric tons. But 0. Pipe and Belt: 90 thousand metric tons.2 China Nature Rubber Industry and Market In 2008 China consumed 2.4 metric tons of smuggling rubber from Vietnam impacted the market a lot due to the low price.P a g e | 26 2. National Bureau of Statistics of China.com/content/chinarubber-a163348#ixzz17L8svrz8) . China’s output of nature rubber reached 600 thousand metric tons in 2008. Nature rubber consumption in the Chinese market in 2008 by industries: 1.000 yuan ($1. Footwear: 30 thousand metric tons. Cycle tire: 120 thousand metric tons.2. Total: 2. which went down to 8.53 million metric tons.4. (Source: http://www.suite101.45 million metric tons). Others: 70 thousand metric tons.8% of the world’s total consumption (9. accounting for 26. Tire (sans cycle tire): 2. 2. Sources: China Rubber Industry Association.9 million metric tons. 3. 6.170) per metric ton in late 2008. The import was around 1. and China National Petroleum Corporation.Read more at Suite101: China Rubber: Chinese Rubber Industry and Market http://www. 5.53 million metric tons of nature rubber.suite101.

RSS3.th/office/import-export/rubber-rss.org/infocomm/anglais/rubber/technology. It is used as a raw material for industrial production. Smoked sheets are classified into 4 grades varying from RSS2.3.ksgroup. Since Thailand is well equipped in terms of the material that is an advantage to competitors.P a g e | 27 2.co. and compounds. Material Composition: Latex RSS (Rubber Smoked Sheet) Description: Our rubber smoked sheet (RSS) is available in standard strengths.1 Industry and rubber products. colors.htm ) .3 Summary of Market value 2. Thailand will need to accelerate the value creation of a more natural rubber.unctad. We can see that the rubber industry is important to the nation with both of employment and exports.html ) (Source: http://www. Material Raw rubber sheet (Source: http://www. RSS4 and RSS5. Block Rubber Description: The production of block rubbers involves relatively sophisticated machineries and heavy power consumption. The basic layout of block rubber production from latex. 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.

which in the last three years.9 million hectares from 11.3.P a g e | 28 2.org/contents/defaultToLocalDetails.aspx?id=1034&content=00262 ) 2.1.1. the trend of the growth of the tire industry in China. Japan and the United States and Russia.37 million tons of year 2009 or 8. In 2010. up 6.3. and be recognized as.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.7 percent from the year 2009. 2. Japan.22 percent. 2. The important competitions are Indonesia. resulting in natural rubber in the world market will tend to increase continuously.3. Thailand will be use rubber about 0.3 tons.7 million tons of 2009 or 5.5 million hectares of 2009 or 4.85 million tons up from 2. as well as provide best of service for customer. Korea.3.5 percent because China has been importing rubber from Thailand increase especially in the form of the compound. the leader complex rubber industry in the North of Thailand and group of neighbor country. Malaysia and Vietnam.1 Production In 2010. 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 . And rubber trees in the high yield more. Malaysia.2 Vision of our organization To be.4 million tons. Meanwhile. Rubber yields approximately 3. Because in many areas that can be opened gradually cut rubber tapping more open. Thailand can export up to 64 per cent per year to China.11 percent because of government's policy is support more. Thailand will have more rubber tapping area are about 11. And are confident that Thailand also holds a leading manufacturer and exporter of rubber in the world market amid competition is increases. the United States and the EU.2 Export Thailand is expected to export about 2. (Source: http://www.farmkaset. up from 0.

000 tons of rubber per year only makes rubber Chinese imports from abroad reached 470. Because the climate is not suitable The Chinese can only rubber plantation area in the southern provinces only. So. to export the rubber. which is No.1 Corporate Level According to China’s demand for rubber. up to 970.000 tons / year. for exports will be use the overseas market as a futures market and just at time which a criterion. the United States and EU. The cost of rubber production in China is quite high. 2 in the world after the United States. Malaysia. 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. In additional any countries like Korea. The cost of rubber production in China is quite high. To Compared with another countries including Thailand.P a g e | 29 domestic and international markets especially with China. US. 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. We chosen the market development to organized the company to export the rubber.4 Strategy 2. While China can produce about 500. For rubber trade. the Chinese demand for rubber. 2. because we will use Time to send out a very long . Japan. higher than that produced quite a lot. Japan.4. Since the current investors in foreign investment into manufacturing base tire vehicles in China in 2543 increased. Malaysia. by buying from local farmers will be use the local price.3. 2.4. 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.3.000 tons per year. To Coupled with China’s rubber farmers lack the expertise in rubber cultivation. Korea. and EU.3.2 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.

4. we had chosen retrenchment strategy to organize our company. We will cut the country that we get the less profit or return loss. 2.P a g e | 30 time.3 Functional Level We will observe and analyze more sales from countries that we export and less profitable. and we will bring the budget from that country to increased investment in the success or profitability of the business country.3. . 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. We can assume that the processing and export of rubber. So.

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).

the People's Republic of China has dozens of major cities with one million or more long-term residents.745 trillion (2nd[5]) . a scale unprecedented in human history.8% between 1978 and 2009. Hong Kong. including the three global cities of Beijing.084 trillion (2nd) . Today.Per capita $4. culture and economics . and Shanghai.Per capita $7. China's cities expanded at an average rate of 10% annually. Between 150 and 200 million migrant workers work parttime in the major cities and return home to the countryside periodically with their earnings. GDP 2010 estimate . The country's urbanization rate increased from 17.283 (98th) .518(99th) GDP (nominal) 2010 estimate . Figure 3-1 Major cities in China play key roles in national and regional identity.4% to 46.P a g e | 34 In the past decade.Total $10.Total $5.

94.236 higher education institutions in the PRC.4 Education In 1986.000 mi) at the end of 2009. are popular among the middle-class families who can afford them. As of 2007. 93. China set the long-term goal of providing compulsory nine-year basic education to every child. including textbooks and fees. 3.116 secondary schools. the central budget of the national scholarships will be tripled in two years and 223.5 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). Private lessons and recreational activities.9% (99. China's youth (age 15 to 24) literacy rate was 98. almost all children in urban areas continue with 3 years of high school. In March 2007.1.2% for males and 98.1. the government advanced its basic education goal by pledging to provide completely free nineyear education. which lasts for 9 years (age 6-15).567 primary schools. often investing large portions of the family's income on education. .050 km (4. and 2. Many parents are highly committed to their children's education. In February 2006. China announced the decision of making education a national "strategic priority".P a g e | 35 3. The total length of expressway is 65. such as in foreign languages or music.5% for females) in 2000.1.1. China has also the world’s longest high-speed rail network with over 7.380 mi) of service routes. second only to the United States.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. Free compulsory education in China consists of elementary school and middle school.3% of the populations over age 15 are literate. there were 396. As of 2007.5 billion Yuan (28.000 km (40.

1. but simple characterizations of PRC's political structure since the 1980s are no longer possible.wikipedia. the liberalization of the PRC is such that the administrative climate is less restrictive than before. the system has historically been subject to overcrowding during travel seasons such as Chunyun during the Chinese New Year. Shanghai has a Maglev rail line connecting its urban area to its main international airport. the press. . Numerous cities are also constructing subways.org/wiki/People's_Republic_of_China#Education) 3. most notably on the Internet. Compared to its closed-door policies until the mid-1970s.1. they are monopolized by the state. (Source: http://en. reproductive rights. At the rates of demand it experiences. The PRC's incumbent president is Hu Jintao and its premier is Wen Jiabao. divided into various railway bureaus in different regions. and freedom of religion. however the PRC is still far from the liberal democracy practiced in most of Europe or North America.P a g e | 36 Private car ownership is increasing at an annual rate more than 15%. Hong Kong has one of the most developed transport systems in the world. Railways are the vital carrier in China.6 million Domestic air travel has increased significantly. Pudong International Airport. North Korea. with heavy restrictions remaining in many areas. The PRC government has been variously described as communist and socialist. and the National People's Congress has been described as a "rubber stamp" body. and Cuba).2. and China surpassed the United States became the largest automobile market in the world with total sales of more than 13.2 PES Analysis 3. but also as authoritarian. The major cities have rapidly expanding networks of underground or light rail systems. but remains too expensive for most. The sale of automobiles had been increasing rapidly after the financial crisis in 2009.1 Political The PRC is regarded by several political scientists as one of the last five Communist states (along with Vietnam. Long distance transportation is dominated by railways and charter bus systems. freedom of assembly. Laos.

1 foreign donor for China. industrialized communist society. the CPC wins by default most of the time.1. 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. although these experiments have been marred by corruption.P a g e | 37 The country is ruled by the Communist Party of China (CPC). Deng Xiaoping and the new Chinese leadership began to reform the economy and move to a market-oriented mixed economy under one-party rule. Collectivization of the agriculture was dismantled and farmlands were privatized to increase productivity. Foreign trade was focused upon as a . Japan has been No. China and Japan had normalized diplomatic relations and China had decided to borrow money from Japan in soft loans. Following Mao's death and the end of the Cultural Revolution. There have been some moves toward political liberalization. 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. in that open contested elections are now held at the village and town levels. 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. referred to in China as democratic parties. China's economy is mainly characterized as a market economy based on private property ownership. However. Since 1978. To propel the country towards a modern. There are other political parties in the PRC. Private businesses and capitalism did not exist. In 1978. The political system is very decentralized with limited democratic processes internal to the party and at local village levels. A wide variety of small-scale enterprises were encouraged while the government relaxed price controls and promoted foreign investment. 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.2 Economic From its founding in 1949 to late 1978. whose power is enshrined in China's constitution. and that legislatures have shown some assertiveness from time to time.2.

The PRC.2 billion in 2008 alone becoming the world's sixth largest outward investor.06 trillion Yuan (US$4. relatively high productivity.4 trillion.01 trillion in imports. medium level of technology and skill. China was the seventh largest country in global wealth and China currently holds $ 16. holding US$801. It now has the world's second largest nominal GDP at 34.20 trillion in export and US$1. making it by far the world largest. while the country itself increasingly invests abroad with a total outward FDI of US$52. If PPP is taken into account. the PRC's economy is second only to the US at US$9.05 trillion corresponding to US$6. France.6 trillion of US securities. Since economic liberalization began in 1978.6%. 35 percent ahead of the wealthiest European country. 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. the PRC's investment. Inefficient state-owned enterprises (SOEs) were restructured by introducing western-style management system and the unprofitable ones were closed.and export-led economy has grown 90 times bigger and is the fastest growing major economy in the world. 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. Ten years ago.800 per capita. The PRC's success has been primarily due to manufacturing as a low-cost producer. is the largest foreign holder of US public debt. good infrastructure. although its per capita income of US$3. The PRC owns an estimated $1. This is attributed to a combination of cheap labor. It is the world's third largest recipient of inward FDI by attracting US$92. The PRC is the fourth most visited country in the world with 50. resulting in massive job losses.9 million inbound international visitors in 2009.8%. and 42.P a g e | 38 major vehicle of growth.99 trillion). and tertiary industries contributed 10.5 billion in Treasury bonds. and some say. secondary.5trillion. an undervalued exchange rate.4 billion in 2008 alone. 46.700 is still low and puts the PRC behind roughly a hundred countries he primary.21 trillion – US$1. Its foreign exchange reserves have reached US$2. which led to the creation of Special Economic Zones (SEZs) first in Shenzhen (near Hong Kong) and then in other Chinese cities. favorable government policy.6% respectively to the total economy in 2009. The latter has been sometimes blamed for the PRC's .

. 46 Chinese companies made the list in the 2010 Fortune Global 500 (Beijing alone with 30).5% of the global share. Although a middle income country by the world's standard.5 million) is estimated to be 825. while the number of super-rich individuals worth more than 10 million Yuan (US$1. More than 93% of the population is literate. up from 1% in 1978. SSE's market capitalization reached US$3 trillion in 2007 and is the world's fifth largest exchange. It is also now the world's second biggest consumer of luxury goods behind Japan with 27. China's retail market is worth RMB 8. but private enterprise (30 million private businesses) now accounts for anywhere between 33% (People's Daily 2005) to 70% (Business Week. Its middle class population (defined as those with annual income of at least US$17. four of the world's top ten most valuable companies are Chinese. fifth-ranked China Mobile (world's most valuable telecommunications company) and seventh-ranked China Construction Bank. compared to 20% in 1950. Some of these include first-ranked Petro China (world's most valuable oil company). China now ranks 29th in the Global Competitiveness Index. Urban unemployment declined to 4 percent in China by the end of 2007 (true overall unemployment might be higher at around 10%).302 trillion) in 2007 and growing at 16. while the OECD estimate is over 50% of China's national output.P a g e | 39 bulging trade surplus (US$262.000) has now reached more than 100 million. about 10% of the Chinese population (down from 64% in 1978) live below the poverty line of US$1 per day (PPP) while life expectancy has dramatically increased to 73 years.000 according to Huron Report.8% annually. the PRC's rapid growth managed to pull hundreds of millions of its people out of poverty since 1978. Its stock market in Shanghai (SSE) is raising record amounts of IPOs and its benchmark Shanghai Composite index has doubled since 2005. 2005) of GDP in 2005.7 billion in 2007) and has become a major source of dispute between the PRC and its major trading partners – the US. EU. Today. The state still dominates in strategic "pillar" industries (such as energy and heavy industries). third-ranked Industrial and Commercial Bank of China (world's most valuable bank). Measured using market capitalization. and Japan – despite the yuan having been de-pegged and risen in value by 20% against the US$ since 2005.9 trillion (US$1.

which include .Consequently. An emphasis on public health and preventive medicine characterized health policy since the early 1950s. along with the People's Communes. and central regions of China. together with its counterparts in the provincial health bureau. the government has promised to use more renewable energy with a target of 10% of total energy use by 2010 and 30% by 2050. This has shown major results as diseases like cholera. The urban-rural income gap is getting wider in the PRC with a Gini coefficient of 46. 3.1. Coupled with a lax environmental regulation. Despite significant improvements in health and the introduction of western style medical facilities.P a g e | 40 The PRC's growth has been uneven when comparing different geographic regions and rural and urban areas. With economic reform after 1978. the health of the Chinese public improved rapidly because of better nutrition despite the disappearance. The country's life expectancy at birth jumped from about 35 years in 1949 to 73. Malnutrition as of 2002 stood at 12% of the population according to United Nations FAO sources. as well as attacking several diseases. Development has also been mainly concentrated in the eastern coastal regions while the remainders of the country are left behind. oversees the health needs of the Chinese population. It has now become the world's largest energy consumer but relies on coal to supply about 70% of its energy needs.18 years in 2008. The economy is also highly energy-intensive and inefficient – it uses 20%–100% more energy than OECD countries for many industrial processes. of much of the free public health services provided in the countryside. this has led to a massive water and air pollution (China has 20 of the world's 30 most polluted cities). the Communist Party started the Patriotic Health Campaign. northeastern. which was aimed at improving sanitation and hygiene. At that time.2. typhoid. and scarlet fever were nearly eradicated. Health care in China became largely private fee-for-service.3 Public health and Environment The Ministry of Health.9%. China has several emerging public health problems. the government has promoted development in the western. and infant mortality went down from 300 per thousand in the 1950s to about 23 per thousand in 2006. To counter this.

a possible future HIV/AIDS epidemic. which was largely modeled on US legislation. they are frequently disregarded by local communities while seeking economic development. With $34. China started to develop its own nuclear weapons and delivery systems. Reports by the World Bank and the New York Times have claimed industrial pollution. China has overtaken the United States as the world's biggest producer of carbon dioxide.P a g e | 41 respiratory problems as a result of widespread air pollution and hundreds of millions of cigarette smokers. Twelve years after the law. China is the world's leading investor in renewable energy technologies. and nearly 500 million people lack access to safe drinking water.6 billion invested in clean technology in 2009. Leading Chinese environmental campaigner Ma Jun has warned that water pollution is one of the most serious threats facing China. According to the Ministry of Water Resources. While the regulations are fairly stringent. roughly 300 million Chinese are drinking unsafe water. such as the 2003 outbreak of SARS (a pneumonia-like disease) which has since been largely contained.1. Part of the price China is paying for increased prosperity is damage to the environment. and an increase in obesity among urban youths. particularly of the air. only one Chinese city was making an effort to clean up its water discharges. with 400 out of 600 cities short of water. China's large population and close living quarters has led to some serious disease outbreaks in recent years. But the environment continues to deteriorate.4 Science and Technology After the Sino-Soviet split. A . successfully detonating its first surface nuclear test in 1964 at Lop Nur. China has some relevant environmental regulations: the 1979 Environmental Protection Law. This makes the crisis of water shortages more pressing.2. In 2007. Estimates of excess deaths in China from environmental pollution (apart from smoking) are placed at 760. China produces more wind turbines and solar panels each year than any other country. to be significant health hazards in China.000 people per annum from air and water pollution (including indoor air pollution). Some 90% of China's cities suffer from some degree of water pollution. 3.

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

a number of New Confucians have advocated that democratic ideals and human rights are quite compatible with traditional Confucian "Asian values.2. such as the belief that calligraphy and literati painting were higher forms of art than dancing or drama. while preserving others. while others say that the CPC's rule has damaged the foundations of Chinese culture. where many aspects of traditional culture were labeled 'regressive and harmful' or 'vestiges of feudalism' by the regime and thus. A number of more authoritarian and rational strains of thought have also been influential. Chinese art. They sought to change some traditional aspects of Chinese culture. such as Legalism. There was often conflict between the philosophies. such as the family structure and obedience to the state. and a Confucian education. the world's fastest supercomputer. 3. conduct bio-medical computing and help design aerospace vehicles. such as Confucianism. Examinations and a culture of merit remain greatly valued in China today. sexism. were destroyed.1. especially through political movements such as the Cultural Revolution." 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. China's traditional values were derived from various versions of Confucianism and conservatism. opportunity for economic and social advancement in China could be provided by high performance on Imperial examinations.P a g e | 43 In 2010.5 Culture For centuries. They further argue that many important aspects of traditional Chinese morals and culture. such as rural land tenure. currently stored in the National Supercomputing Center of Tianjin. who believed Legalism departed from the original spirit of Confucianism. It is two publicy (for military or something secret usually is not announced) available supercomputers among world's top 10. China developed Tianhe-IA. China also has Nebulae. . The literary emphasis of the exams affected the general perception of cultural refinement in China. The system is expected to process seismic data for oil exploration. Many observers believe that the period following 1949 is a continuation of traditional Chinese dynastic history. In recent years. such as the individualistic Song Dynasty neo-Confucians. Besides China's National SuperComputer Center's Tianhe-1A above.

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

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

.3.S.1.2 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. most with 54 % of the export value of rubber.7 billion Yuan registered capital of 800 million Yuan. A clear target groups and analyzed the characteristics of the possibilities. 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. our rubber processing. . Thailand's largest rubber exports to China. Ltd in association with Yuntian Hua Group Co. Therefore. 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. $ 3. we see that China is to be a good customer in the export business. Of capital than 2. 130. Increased 8 percent compared with the year 2006 with a market share of Thailand is also number one export market.260 million.5 million square meters per year. Ltd established Yunnan Natural Rubber Production Co.P a g e | 46 3. This is the largest rubber company in China.. the area planted in rubber production to 1. all of Thailand. Ltd was at Kun Ming City.. Interest of the rubber market in China is as follows.000 tones per cent. 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. 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. The target customers that will lead to success in direct sales in the analysis. followed by rubber smoked sheets (26%) and latex (19%) for the information.

 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. Khun Tan. Therefore. 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.000 acres and rubber tapping rubber to open no less than 5. I need to add more to the old rubber thousand baht per rai per year.  Bargaining power of supplier Crisis. The rubber farmers of more than 15. Make money flow into the economy of Chiang Rai. The use of rubber processed and used in many benefits and its growing cluster what are our company’s major competitors ago. production and cost the same. Considered a source of rubber cultivation is important. The help given the .000 acres and is about to open another cut hundreds of thousands of farm This will generate revenue to rubber farmers in the future.Chiang Khong Wiang Chai entertainment section has a factory finish. the company turned to new interests and rubber production increased because of the importance of rubber and to demand more.  Threats of new entry Rubber is currently increasing need in the market. Customers will not be able to negotiate a trade because the price out of each stores the same.3. Especially in Chiang Rai. Rubber demand exceeds capacity.  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.forces model for the competitive Rubber in Chiangrai.3 Competitive Analysis The Five . about 10 million Baht. The profitability of other it's the technique that can each store from which some without prejudice to the agreed price. If not satisfied with the price I have to buy it because the other stores selling the same price. The Phaya Meng Rai has big capitalists to buy about 1 thousand farm to plant rubber. the decline in rubber prices during the year 2534 to year 2535 continued to rubber farmers have suffered and demanding the government come.P a g e | 47 3.1. We have been promoting and expanding rubber cultivation area to the north. This can be done very easily because the supply of goods.000 families are planting more than 350.

Since replacement of the rubber product is a synthetic rubber by-product is distilled from crude oil." 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. The rubber has important role in determining the price of rubber. because the sender used the method of direct trade between producers and users. . It is one way the government aims to develop a system of rubber market. these are all things affecting the basic rubber. Yang lack of markets to free competition. 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.  Threats of substitute product and service Threat of substitute products and services for business expansion plans are to the relatively high. The majority of small rubber planters established central rubber market. Rubber products have quite a vehicle and industrial rubber products. both domestic and foreign countries to be effective. The price of rubber has a close relationship with the oil price in world market simply means "to oil the tires up. 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.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.

(2010).2 Market Target Thai-North is having only main one target focus. China.2 STP analysis 3. Korea. We want to kwon what country suitable for exports our products. Our target is a China-market specialization following in the table. India.2. .P a g e | 49 3.1 Market segment Our company planned to export products. Natural Rubber: Will the Rally Contnue?.2. we segment market by using the country that wants to import the rubber to be the base for segmenting market. 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.Geojit Comtrade Ltd.) 3. Japan. So we have many countries in the international rubber market to export such as USA.

(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. Moreover. Vol.2 No. with 54 percent of the total export value and followed with Smoked Rubber Sheets (RSS) to responding growth of automobile industry in China. while today China cannot produce rubber to enough their demand. demand for rubber is increased continuously and become a product shortage that make demand of smoked rubber sheets(RSS) and Block Rubber are continuous.7 July 2010) . The rapid economic development in recent years in China. 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. Thailand export block rubber to China most.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. Monthly Bulletin of Natural Rubber Trends & Statistics.

2. The products are divided into grades by using the ground base eye (Visually Grade) is divided into rubber smoked sheet. automotive parts. 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.. 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. allow to product line we can rank with many grade to serve the variance of demand.P a g e | 51 3. 3. STR 5 and STR 5CV**. etc. Thai-North Rubber position is the export quality. shoes.  Smoked Rubber Sheets (RSS) The split into 5 categories: Rubber Smoked Sheet 1. STR5L. . 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. tires.

The test results with high accuracy include of the transport process that ensures of all products delivered to customer’s needs. conditions and standards required. 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.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.sritranggroup.php ) .com/th/page/20_products2.

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

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

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

 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.1.2 Inventories and Warehousing We will locate Inventories and Warehousing near the Factory because it will better to save cost of transport. a minority in the North of Thailand.wikipedia. And we will do the same with warehousing. . way of life and even language. music.3. The region is home to distinctly different food. arts. but 12. mainly descendants of the Kuomintang soldiers who settled in the region.P a g e | 56  Demographics The majority of the population is generally ethnic Thai. Chiang Rai is also a melting pot of hill tribes and their own unique cultures. (Source: http://en.org/wiki/Chiang_Rai_Province) 3. The Inventories up on the demand of products we will management inventory to be value with space that we have. notably Santikhiri.5% of the population belongs to the hill tribes.3. It will be close to the factory and not far to the port that we will ship the product. 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. If we have high of return this project will follow. A minority are of Chinese descent.

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

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

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. which is expected to dramatically increase the flow of people and cargo throughout the region. (Source:http://www. passing through Malaysia. which is several years later than had been previously hoped. There is already an existing rail link from Singapore to Bangkok. with an additional section of track connecting it to Laos. it is the two branches extending north from Bangkok that have proven more difficult. The western branch will travel through Myanmar and the line's eastern branch will cut through Cambodia and Vietnam.000 mile) rail line's development has been hampered by a lack of funds.000 kilometer (3. with an additional US$5. technical issues and varying levels of enthusiasm among countries involved.gokunming. The 5. ASEAN secretary-general Ong Keng Yong told the AP that the Asian Development Bank has recently given Cambodia US$40 million in soft loans.4 million in grants also being secured for the rail line.com/en/blog/item/27/kunmingsingapore_rail_link_by_2015 ) .

htmand http://www. we will work with government agencies of Thailand and China that help us to promote and support like The Oversea Trade Fair.or.4. The show had to be coordinated on several issues.th/ertc/php/) 3.P a g e | 60 EXHIBIT 3-4 Trans-Asian Railway network (Source: http://www.3.1 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.3.ac.mof. The trade show will be arrange meeting .th/fruit-olympic/freetrade-thaichina.4 Promotion 3. The important.tu.econ. Department of Export Promotion (DEP) and Foreign Market Development Office in line of China.

Promote by website will enhance the opportunity of our company from buyers all over the world. 3.4. in the critical locations in economy throughout the year such as Bangkok. Marketing online and one of the key elements of online marketing strategies for our business is web site. Shanghai and Zhejiang. And the price of goods down by reduce middleman which will increase competitiveness in the global market. The web site also increase the revenue for us.com/th/page/index. We can track any information from such cooperation.P a g e | 61 between entrepreneurs and those interested. etc. cope. Thai-North Rubber © (Source: http://www.2 Website Marketing strategy is effective and cost-effective results to our most other one is.sritranggroup. and up-market of rubber.php ) .3. is will helps take the good image of Thai-North-Rubber to modern.

P a g e | 62 3.799. . In the future North also increase produce of rubber follow age of rubber trees.660 2. It has space for planting more than 2 million hectares and harvest more than 70 percent per year.339.578 (Source: http://www.rubberthai.698 1. Thailand has rubber cultivation in regions of the country. Most of the country will be planted in the southern hemisphere and the second was the Northeast. Growth rate will increase too.htm ) In the North area of Thailand has project plant 1 million of rubber.4 Sale Forecast/Profit estimate Quantity Production Thailand has produced rubber high as number one in the world. Table 3-1 Quantity Production Zone South Central and East Northeast North 1: Rai Figure 3-3 Quantity Production in Thailand Quantity 11.978. In Chiang Rai has just 10% tapping rubber.209 600.com/statistic/stat_index.

993 319.397 277.991 259.763 297.253 188.393 276.070 187.179 279.725 326.113 2009 225.835 247.523 245.750 278.305 Quantity 2006 254.423 199.317 234.647 268.270 251.871 299.119 250.473 264.569 264.341 236.223 291.061 243.370 263.291 250.930 2007 264.729 240.795 197.299 214.413 258.323 219.566 2005 272.474 264.418 175.044 268.634 220.208 338.656 251.381 257.323 265.272 176.282 212.162 204.846 2008 285.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 317.871 249.494 218.020 220.172 264.418 271.882 231.536 269.397 264.055 2004 253.492 235.850 256.867 245.508 Per: Ton .168 169.239 210.967 210.220 218.754 304.509 236.068 257.470 263.907 220.473 267.608 225.481 214.593 280.417 207.522 216.214 278.525 269.357 242.283 244.099 201.925 212.341 203.763 209.921 214.172 231.

700 76.167 2.977.135 509.948 2.418 11.799.499 68.345 555.698 2009 693.P a g e | 64 Table 3-3 Category of rubber export Year RSS STR Latex Mix other Total 2003 1.710 154.326 1.673 2006 861.176 2009 24.550 417.724 2.628.504 488.237 Per: Ton Table 3-4 Compare plant.151 77.536.675 36.564 77.069.209 1.218 690.668 1.841 569.514.152 197.675.578 2.097 2.204 9.283 2008 694.875 2.632.524 26.590.410 1.327 488.381 .762 2007 796.273.103.003.460 11.132.443 60.503 1.193 2009 322.116 2009 6.375 165.549 1.470 524.510 950.984.658.990 Trapping of rubber(Rai) 2008 14.060 2.166 198.972 1.644.060 2. trap and produce in 2008-2009 Plan of rubber(Rai) 2008 North Northeast Central South 600.109.063.559 82.512.984 1.164 72.398 2005 938.316.812 2.848 510.489 105.259 Produce(Ton) 2008 3.236 2.339.574 595.560 9.436 349.917 364.295.905 129.588 245.771.309 993.726.051 2004 920.297 2.

thainr.5 RSS bubble 133.php?detail=stat-thai ) Tendency rubber price per year Traded domestic rubber price will base on auction price and quantity. Export rubber price base on foreign market both cash and future market.) Rubber market RSS 13 138.62 RSS 4 137.th/Local/ViewNews.P a g e | 65 Figure 3-4 Compare plant.5 RSS Cutting 127. trap and produce in 2008-2009 (Source: http://www.62 RSS 5 134.co.000 Filed Latex 132 - Songkhia Suratthani NakornSrithammarat 137.62 138.manager.49 .500 120.) 70.aspx?NewsID=9530000131252 and http://www.5 134. Table 3-5 Rubber smoked sheet Price (Baht/KG.5 130.16 Quantity (KG.62 135.com/th/index.

rubberthai. Price of RSS 3 is 142 and STR 138 Baht per Kg.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.com/price/eng/price_eng.00 141. In rainy season is decrease sale volume because it has affected to keep latex.10 (Source: http://www.htm ) North of Thailand has 4% area all of plant rubber but has around 10% can trapping rubber.70 142. Table 3-7 Volume 2011 RSS 3 STR Per: Ton 125 203 2012 137 223 2013 151 246 2014 166 270 2015 183 297 .8% of north rubber export to increase total sale every year.6 480 Table 3-7 Future Market on AFET Month Jan-11 Feb-11 Mar-11 RSS 3 139. We have account receive 30% from sale forecast. Our company assumes 0.

26 184.939 501.908 752.221.191 461.445.343 May 648.197 2.191 473.870 1.135 .870 1.456 1.574.537.322 1.574.456 1.85 17.57 7.908 772.045 Dec 997.260 1.227 25.67 10.237 284.588 366.260 1.99 4.465 733.461 307.389 1.497.45 70.322 1.85 14.740.366 449.730.99 4.478 194.237 194.603 733.960 1.99 7.576.57 7.939 752.129 Jul 648.967 366.53 4.603 501.43 11. 2011 Year 2011(Quantity) Product/Month RSS (Ton) STR (Ton) Total Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec Total 5.509.024.305 2.885 Mar 947.576.P a g e | 67 Table 3-8 Sale Forecast/Profit estimate.23 114.870 1.85 14.537.509.465 598.389 1.887 2.925 1.877 284.017 4.973.14 17.45 7.478 194.99 6.67 10.461 307.024.673.305 2.478 194.44 8.960 1.260 1.717 291.221.02 11.02 11.30 6.129 Sep 972.024.30 5.44 8.57 7.588 449.99 6.694 Nov 997.260 1.694 Oct 972.673.197 299.717 299.870 1.445.767.168 598.129 Jun 648.017 473.85 17.223 15.994.045 Total 9.85 11.024.461 307.939 501.925 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 231.885 Feb 772.366 307.673.14 17.49 Year 2011(Price) Product/Month RSS (Baht) STR (Baht) Total Jan 772.43 18.939 501.723 2.994.43 11.478 291.213 7.723 2.43 11.53 6.991.43 11.343 Apr 947.85 11.722.213 772.129 Aug 648.99 4.673.461 461.877 231.57 7.43 18.887 2.497.

097.415.159 260.097.449 Dec 1.15 Aug 3.395 2.558 164.15 Sep 7.545 17.831.159 260.57 20.197 1.318 520.949 28.86 6.055 1.68 202.725 Sep 1.725 Jul 548.435 849.116 329.57 20.395 2.449 Total 10.57 20.831.73 12.164 520.318 520.318 520.94 Year 2012(Price) Product/Month RSS (Baht) STR (Baht) Total Jan 1.055 1.343.28 10.435 849.28 10.73 12.717 849.318 520.116 164.734.734.57 20.097.055 1.116 329.28 10.395 2.435 849.29 Nov 7.314.116 329.097.734.725 Jun 548.318 520.734.116 329.73 12.159 520.435 424.097.527 867.527 867.197 1.449 Nov 1.435 8.831.415.449 Mar 1.415.395 2.435 849.558 164.395 2.318 5.055 1.055 1.449 Oct 1.055 1.57 20.29 Mar 7.449 May 548.318 260.57 20.318 520.291.527 867.29 Feb 7.415.734.159 260.055 1.73 12. 2012 Year 2012(Quantity) Product/Month RSS (Ton) STR (Ton) Total Jan 7.73 12.116 329.197 1.717 424.116 329.734.86 6.15 Jun 3.449 Apr 1.29 Dec 7.73 12.28 10.P a g e | 68 Table 3-9 Sale Forecast/Profit estimate.831.57 20.73 12.725 Aug 548.717 424.73 12.29 Oct 7.734.970.29 May 3.435 849.86 6.831.831.097.831.449 Feb 1.57 20.185 849.831.527 867.29 Total 77.116 3.558 164.29 Apr 7.395 2.558 329.86 6.734.26 125.097.15 Jul 3.055 1.717 424.197 1.203.348 .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 329.395 2.494.395 2.435 849.097.

206.32 May 4.594 Oct 1.91 11.917 1. 2013 Year 2013(Quantity) Product/Month RSS (Ton) STR (Ton) Total Jan 8.23 Year 2013(Price) Product/Month RSS (Baht) STR (Baht) Total Jan 1.98 138.16 Sep 8.32 Feb 8.760 1.206.32 Apr 8.114.189 Aug 181.760 1.834 3.014 286.91 11.917 1.82 22.175 467.907.350 934.917 1.907.760 1.189 Jul 181.594 Dec 1.944 Year 2013(Account Receivable) Product/Month RSS (Baht) STR (Baht) Total Jan 362.834 3.378 May 181.594 Feb 1.350 934.907.557.145.723.760 1.50 13.32 Total 84.028 572.25 6.834 3.594 Apr 1.378 Dec 362.32 Mar 8.50 13.206.189 Sep 362.297 Jun 603.343.028 572.350 934.114.028 572.014 286.834 3.344 31.175 467.834 3.917 1.380 953.557.50 13.206.50 13.206.82 22.297 Aug 603.380 953.82 22.82 22.114.600 19.760 1.206.028 572.378 Mar 362.834 3.594 Mar 1.175 467.760 1.25 6.91 11.82 22.378 Feb 362.594 Total 12.16 Aug 4.028 572.503 9.378 Apr 362.P a g e | 69 Table 3-10 Sale Forecast/Profit estimate.378 Oct 362.114.620.760 1.760 1.32 Dec 8.16 Jul 4.378 Total 3.32 Nov 8.114.350 934.834 3.82 22.028 572.16 Jun 4.028 572.25 223.175 467.014 286.907.067.32 Oct 8.91 11.114.557.350 934.907.594 May 603.078.82 22.50 13.25 6.350 934.557.028 572.297 Sep 1.206.280 5.380 953.378 Nov 362.380 953.350 934.50 13.25 6.594 Nov 1.350 934.50 13.50 13.206.297 Jul 603.907.189 Jun 181.783 .907.82 22.014 286.114.834 3.114.907.

585 1.308 6.67 7.231 629.027 Sep 1.327.426.327.436 2.718 1.027 Jul 663.28 Jul 4.21 24.436 2.56 Total 93.618 3.054 Feb 1.21 24.816 Dec 398.713.21 24.049.309 1.115 314.713.309 1.426.274.21 24.426.982.585 1.179 34.327.049.426.436 2.793 513.539 Year 2014(Account Receivable) Product/Month RSS (Baht) STR (Baht) Total Jan 398.436 2.816 Apr 398.21 24.054 Apr 1.56 Apr 9.054 Oct 1.426.295.908 Jul 199.618 3.027 Jun 663.098.585 1.816 May 199.67 7.618 3.327.327.054 Mar 1.327.718 1.585 1.28 Aug 4.027.28 Sep 9.35 15.231 629.027.054 Nov 1.098. 2014 Year 2014(Quantity) Product/Month RSS (Ton) STR (Ton) Total Jan 9.360 20.908 Sep 398.60 12.278.908 Jun 199.35 15.231 629.986.816 Nov 398.60 12.67 7.793 513.027.618 3.049.35 15.098.56 Dec 9.56 Feb 9.07 245.56 Nov 9.28 Jun 4.P a g e | 70 Table 3-11 Sale Forecast/Profit estimate.35 15.327.054 May 663.713.436 2.793 513.793 513.908 Aug 199.21 24.054 Total 13.162 .585 1.426.67 7.618 3.56 Oct 9.718 1.21 24.054 Dec 1.618 3.309 1.231 629.60 12.56 Mar 9.618 3.115 314.854 10.35 15.027.48 152.436 2.426.585 1.816 Oct 398.027.098.098.231 629.56 Year 2014(Price) Product/Month RSS (Baht) STR (Baht) Total Jan 1.049.816 Total 3.231 629.718 1.35 15.56 May 4.098.35 15.115 314.436 2.260.027 Aug 663.027.713.436 2.816 Feb 398.21 24.027.098.309 1.585 1.35 15.60 12.098.618 3.327.426.585 1.115 314.231 629.816 Mar 398.231 629.027.

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 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.P a g e | 74 Table 3-15 Marketing Expense Budget.000 200 0 200 4000 200 0 200 3.000 4000 9000 13.

500 500 200 200 200 200 500 200 200 500 2. 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 9.000 200 0 200 3500 200 0 200 3.000 3500 200 0 200 3.700 3.200 .P a g e | 75 Table 3-16 Marketing Expense Budget.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 1.000 200 0 200 3500 200 0 200 3.200 .000 3500 200 0 200 3.500 500 200 200 200 200 500 200 200 500 2.P a g e | 76 Table 3-17 Marketing Expense Budget.700 3.000 3500 9.

000 3500 13.200 .500 500 200 200 200 200 500 200 200 500 2. 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 1.700 3.P a g e | 77 Table 3-18 Marketing Expense Budget.000 3500 200 0 200 3.000 9.000 200 0 200 3500 200 0 200 3.

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

3. Rubber Smoked Sheet rubber layer 3 is dried. The color and consistency of the color red does not mold. The language of the selected layer of rubber called a point and points. No impurities. 1. 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. . but if the quality worse than I consider it to be rubber. 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). Bubbles and dirt.P a g e | 80 Standard rubber smoked sheets of Thailand Remove the rubber layer 3 on the criteria for judging. 4. 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. between countries are as follows. 2.

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

no gravel . The properties of rubber. Have a little rust. Mold or dry wrapping a sheet of rubber.3 Rubber Smoked Sheets 3 (RSS3) 1. .1. . 2.1.A small bubble.No contaminants . but not more than 10% of the sample detected. .P a g e | 82 Price: 142 baht/kg 4.blamed acceptable. .Have little spots . Price: 142 baht/kg .hard.There is no point inflation .Dry .a spot of little bark.

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

protein and fat removed and the coagulation index during storage is almost constant. The results do try to express that possibly due to the slow sample degradation.Nitrogen content of the rubber is reduced as much as 0. Assumed that due to chemical bonding. Phil K New reaction sponsor of NRL action was done by changing variables as follows. In contrast. Under conditions is low humidity. The temperature of the reaction. the reaction temperature of 70 ° C. While made of rubber and rubber to eliminate fat. the reaction of nitrogen rubber decreased significantly during the start of the reaction and gradually Decreased slowly.1. Rubber from latex. Between functional groups active among the fatty chain length of phospholipid at the end of four lipid molecules of the rubber.2. 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. After reaction for three to seven hours for every The concentration of base. Tire spins separation. the concentration of sodium hydroxide and reaction time to get optimum conditions for preparing high-purity rubber.P a g e | 84 ozone. 1-7 hours. 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. 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.1 STR 5L Price: 138 baht/kg . Rubber was removed from the protein structure of the resulting gels boosted after a stronger reaction. From the rubber by centrifugation: 4.02% after the reaction sponsor Phil K New Nation that the concentration of base was 7%.

th .co.1.rubber.com ) .3 STR CV60 Price: 138 baht/kg (Source http://www.2.yangpara.2. http://www.P a g e | 85 4.2 STR XL Price: 138 baht/kg 4.1.

2 1.944.200 Total 361 29.800 Year 2011 Jun Jul 21 21 105 101 2.000 Total 440 35.300.700.000 Jan 40 75 3.000.160.000 * This month (May-August) have the high price because this time is the rainy season. The price that following the demand.000 Feb 44 75 3.121.600 May 20 98. Then result to the quality has high demand.300.000.700.468.000.000 Nov 48 75 3.300.700.268.475.200 May 18 98.000 Oct 36 75 2.806.000 Feb 40 75 3.020.2 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 Sep 40 75 3.000 2.000 Apr 31 75 2.400 Total 480 38.000 Apr 36 75 2.818.424.000 Feb 36 75 2.600.890.875.000 Dec 48 75 3.000 May 21 98.000.000 Oct 40 75 3.000 Jan 36 75 2.875.000 Nov 44 75 3.000 Nov 40 75 3.000 Oct 48 75 3.000.600.600.205.000 Dec 36 75 2.000 Year 2015 Jun Jul 24 24 105 101 2.800 1.000 Apr 48 75 3.000 Dec 33 75 2.000 Apr 44 75 3.600.000 Nov 36 75 2.000 May 22 98.000 Year 2012 Jun Jul 18 105 1.700.000 Dec 40 75 3.000 Year 2014 Jun Jul 22 22 105 101 2.000 Mar 48 75 3.400 May 24 98.P a g e | 86 4.000 Mar 44 75 3.520.000 Total 328 26.000 2.300.000 Mar 31 75 2.600.600.000 Oct 32 75 2.325.600 Total 397 32.000 Apr 40 75 3.356.2 2.000 Dec 44 75 3.000.2 2.000 Aug 24 108 2.000 Sep 36 75 2.300.000 Jan 48 75 3.000 Feb 48 75 3.300.000 Oct 44 75 3.700.600.300.700.100.964.000.000 2.000 Sep 32 75 2.2 2.244.000 Sep 48 75 3.700.325.000 Aug 20 108 2.600.376.700.222.692.767.160.2 1.000 Nov 33 75 2.000 Mar 36 75 2.475.000 Sep 44 75 3.592.000 Aug 21 108 2.000 Year 2013 Jun Jul 20 20 105 101 2.300.400.062.019.000 Aug 18 101 18 108 1.000 Feb 25 75 1.000 2. .000 Aug 22 108 2.000 Jan 44 75 3.000.000 Mar 40 75 3.310.400.

44 110. Our price is 93 Baht.php.4 98.87 110.45 114.35 97.01 104.93 97.3 87 94.99 109.21 85.33 96. http://www.1 107.78 98.68 104.4 84. In Chiang rai it not has the stability of price.88 100.95 92.88 99. Which we use the price to stability with the real price.07 101.43 115.87 102.59 107.98 91. The company cannot fixed the price in the future because have change on every time.08 97.04 100.sritammarat Field Latex Local (factory) 90.8 100. ****The reason of the company brings a data office of Songkhla Central Rubber the stability of price.76 87.02 102.com/price/price_index.08 101.htm.51 99.2 114.58 86.68 103.5 115.77 98.13 115.93 96.47 82.77 98.83 97.44 98.rubber.8 97.19 103.34 94.93 93.1 93.22 104.44 104.33 98.56 95 101.95 116.42 83.09 Table 4-2 Pricing Product Our price cost.82 116.5 107.75 99.58 80.88 97.36 98. Which this price medium Using the cost of local price to changing up and down constantly.) .rubberthai.Rubber Market because the Southern rubber market is the big market.85 106.th/menu5.15 99.8 101.93 93.75 90.63 100.71 98.3 Pricing product At office of central rubber market Songkhla Suratthani Field Field Latex Latex Rubber scraps (factory) Local (factory) 89.34 97. we use the local price.89 107.91 88.01 96.co.5 102.04 81.38 101.93 98.87 98.08 102.53 96. (Source: http://www.85 104.27 Nakhorn.17 Year 2010 January February March April May June July August September October November December Local 91.18 93.P a g e | 87 4.08 85.

23 16.674.32 75 1.56 75 1.221 Year 2015 Jun 13.000 1.928 Year 2014 Jun 12.000 2.000 1.674.99 75 1.036 Feb 22.000 959.56 75 1.000 1.51 80 1.28 80 1.078 Nov 18.16 80 1.000 1.344 Jan 20.036 Nov 22.830 Total 202.53 75 1.000 2.56 75 1.01 75 1.99 80 1.528.51 80 1.29 75 1.000 1.630 Total 245.000 2.383.56 75 1.000 959.412 .000 1.01 75 1.32 75 1.841.080.486 Apr 20.522.443 Aug 10.664 Nov 27.669 Dec 18.025.000 1.000 1.000 1.300 Total 223.56 18.928 Jul 12.036 Sep 22.32 75 1.025.45 75 1.072.080.01 75 1.841.841.000 1.01 75 1.15 80 1.522.349.01 75 1.01 75 1.32 75 1.000 982.965.000 982.344 Sep 17.830 May 11.000 1.674.669 Total 184.025.221 Jul 13.025.522.000 959.240 Oct 24.28 80 1.32 75 1.344 Feb 20.000 2.522.000 1.486 Mar 20.025.000 982.344 Aug 11.072.000 1.443 Jul 10.080.28 80 1.036 Mar 22.16 80 1.674.314.830 Mar 17.674.664 Dec 27.080.30 75 1.56 75 1.16 80 1.036 Oct 22.99 80 1.221 Aug 13.15 80 1.000 1.000 1.000 982.29 75 1.753 May 11.522.240 Sep 24.383.025.664 Sep 27.000 1.15 80 1.443 Jun 11.000 1.56 75 1.000 1.240 Feb 24.928 Aug 12.841.841.240 Dec 24.000 1.29 75 1.000 892.000 1.32 75 1.51 80 1.000 1.99 75 1.674.841.000 2.076.000 892.000 1.830 Dec 20.662.025.240 Mar 24.000 811.29 75 1.522.674.49 14.240 Jan 24.000 1.29 75 1.664 Oct 27.664 Apr 27.000 1.000 892.928 May 12.528 15.753 Year 2013 Jun 11.000 1.000 1.349.036 Jan 22.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 14.000 1.000 811.423.11 20.841.522.000 2.29 75 1.025.29 75 1.240 Apr 24.32 75 1.000 1.841.99 80 1.443 Sep 20.664 Mar 27.15 80 1.000 2.036 Apr 22.45 75 1.000 1.830 Apr 17.29 75 1.314.16 80 1.01 75 1.830 Oct 20.664 Feb 27.193 Total 270.753 Jul 11.56 75 1.56 75 1.000 1.000 1.000 2.28 80 1.000 959.344 May 10.000 1.753 Aug 11.99 80 1.830 Nov 20.221 May 13.344 Year 2012 Jun 10.036 Dec 22.078 Oct 17.01 75 1.94 Jul 11.30 75 1.000 1.53 75 1.674.51 80 1.000 1.522.664 Jan 27.000 811.000 892.830 Feb 14.000 811.000 1.240 Nov 24.32 75 1.000 1.

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.000 Baht 54. Do not think the average. Request 2 transformers (1 KVA -1 MVA).000 Baht Under 30 A equal to 15. 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. We estimate electric power in the factory.000 Baht KVA Insurance Cost = Guarantee for debt power.htm) . 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. Inspection Cost files. ****2 Transformers (1 KVA -1 MVA). Configuration Cost = The cost of providing meter installation and operation.000 Baht High voltage meter. System under 69 KVA Individual transformer.co.4 Preopening cost 4.000 Baht 20.000 Baht More than 30 A equal to 20.000 Baht 4.1 Cost of request Electric and Water  Electric Request the power from Provincial electricity authority.P a g e | 89 4. and officer.000 Baht More than 200 A equal to 40.pea.000 Baht 108. Average Cost user that Light. Individual transformer think 4 Baht per KVA System more than 69 10.th/th/services/services_fee_rates.4.000 Baht 4 Baht per KVA but Under 50.

000 4.000 21.500 2.P a g e | 90  Water Request the water from the Provincial Waterworks Authority. plumbing and other devices that use to installing.000 30.000 Insurance Cost (Baht) 500 1. .700 Total 4. 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.500 4. Deposit Cost = the applicant must pay for PWA on request install to be use in the survey location and estimating the cost of installation. We estimate electric power in the factory.700 Expense estimates. PWA will return the deposit cost immediately. Request 1 water meters.500 3.000 Labor and Equipment Cost (Baht) 3.000 5. water meters cost. 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 1.000 15. User will receive a full deposit returned upon termination of water and no debt outstanding water bill. Insurance = PWA charged according to size water meters to secure the payment of water bill each month. and officer.100 5.000 10. This doesn’t include pipe and equipment after the water meters that applicant must be due by them self.000 10.000 20.000 20. Deducted by estimate cost that user paid already.000 1. When the PWA receives labor and equipment supply cost for installation already. Labor and Equipment Cost = There are labor cost.000 1.600 4. From water meters to connection the pipe.000 4.

000 Baht to 100.000 .000 Baht to 100.000.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 equivalent). The rate is following Registration Rate from Department of Business Development. Registered prospectus Incorporated company Total 10.4.000 Baht each set.th/mainsite/index.th/service/newuser.000 Baht 10.000 Baht : According to No. EXHIBIT 4-3 The company limited registration Fee rate Description Registered prospectus: Capital not exceeding 1.000 Baht Registered capital of 100.000 Baht Incorporated company: Capital not exceeding 1.000 Baht each set. (Fraction of the 100.php?id=1638 ) Baht 500 50 25. (Fraction of the 100.pwa.000 Baht 110.co.2 Prepare to be company limited For our business the first step we need to have a Memorandum.go.500 Baht ******* Total Cost of request Electric and Water 132.500 Baht ******** (Source: http://www.000 Baht 9. Capital more than 50.html) 4.000.000 5.3 and No.4 of ministerial regulations The capital of all partners combined approximately 20.dbd.000.000.000 Baht Registered capital of 100.000.000 Baht 100.000 Baht.000 Baht (Source: http://www.500 Baht 24.000 baht equivalent). Capital more than 50.000 500 250.

Corporate income tax (withholding) Fee legal action (transfer fee).land.3% of selling price but not less than market prices commerce) ***The cost of land is 6.000 Baht 64.com/index.php?lay=show&ac=article&Id=538974919&Nty pe=19) 4.asp) .50%) following selling price but not less than market prices commerce) 3.4.000 Baht 131.500 Baht 32.co.4.000 Baht*** Corporate income tax Fee legal action The mortgage Stamp Duty Total Cost of Land Tax 64. 1992 Application for permit Permit Substitutes permit Fees factory operation (per year) Total 100 Baht 100.P a g e | 92 4.000 Baht 30.thailandlawyercenter.250 Baht (Source: http://www.4 Land Tax EXHIBIT 4-4 Charge at the Land Office if the Registrar Charges at the Land Office if the Registrar.3 Fees for the establishment of the factory Following the factory act.500 Baht 129.000 Baht 1. 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(0.250 Baht 290.th/land-info-top-3.450.100 Baht (Source: http://www.

pdf) .000/500)*20 = 4. Label is under 200 Baht to pay 200 Baht instead 200 Baht Baht 3 Baht 20 Baht 40 Baht Size 4*3 M.4.Have some Thai characters or All of Thai Character below or under foreign language.No Thai characters .800 Baht (Source: www.go. Signs following .thailocaladmin. Thai characters mixed with the foreign language/images/other marks.5 Tax labels (per 500 square centimeters) EXHIBIT 4-5 Rate of Tax labels Style Thai characters are.2. Already paid interest tax.th/work/e_book/eb5/eb5_2/tax1. of Factory label 120.P a g e | 93 4. which cause the signs and banners to increase the tax rate by 1.3 The case may be and pay especially the amount increased.000 square centimeters (120. Label changes to the label area of an image or mark some of the signs.

ipthailand.000 701.000 131.000 Baht (Source:http://www.800 1.php?option=com_content&task=view& id=817&Itemid=303) 4.4.250 4. Following Ministerial on fees and fee waiver for a patent or petty patent Act.000 290.go.500 110.th/ipthailand/index.650 . 2004 Patent inventions Patent or petty patent Total 500 Baht 500 Baht 1.000 24.4.7 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.P a g e | 94 4.6 Trademark registration fee.100 32.

5.5 Operating investment cost /Operating expense 4. And we contract with Mr. By refer the information from Department of Industrial Promotion. Sainatee who is the owner by phone number 085-6664996.com/component/option.3 Acers. We choose to contract with Mr. He sell for 600.view/id.000 baht. (Source: http://www.000 Baht.68072/catid.P a g e | 95 4. This land is located near the Chianhkhong’s friendship bridge 4th only 1-2 kilometers. He calculates for our investment 7.450. Suvin who is the professional.We will pay for land 6.56/func. .com_fireboard /Itemid.000.3 Acers (10Rai 3Ngan).000 Baht per Rai that all of we buy equal to 4.1 Land We decision to buy the land all of 4.5.30261/) 4.baanok.2 Building Thai-North Rubber will hire the constructer to design and advice us to build the factory.

control and operation in production.5.5. contact with customer. there are the zone of manufacture and administrative zone.P a g e | 96 4.3 Features and Dimension All of our areas are divided into two zones.3. 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. Block Rubber (STR) products and Rubber Testing Lab.1 Manufacturer zone Our production is provided into three parts which are Rubber Smoked Sheet (RSS) products. . We allocate to each zone because of comfortable for easy to service. EXHIBIT 4-6 Total Areas of Company 4.

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

th/I_Standard/Web/pane_files/Industry12.000 1 25.000 6 Cutting machine 25. .php?langtype=th&pageid=th_40 http://www2. All of this we can calculate the number of money with is 446. we use many of merchandise to take products.000 4 Vinyl rubber 18.asp) Within the Lab room and production process are have many of equipment to concern.000 2 60.go.068.com/index. we take money for their about 1.000 3 Crepe rubber machine 30.800 (Source: http://machine. Item Picture Price (Baht) 14.200 Amount Total (Baht) 56.800 1 Eauong mortar as 50 pieces 4 2 Rubber rolling machine 8.yongfongthai.060 Baht.000 1 200.500 8 68.500 2 37. EXHIBIT 4-8 Merchandise Cost No.diw.5.4 Operating investment cost In the production. So. And we have 3 people are lab staff and 2 people are maintenances.P a g e | 98 4.000 5 Bar presses 200.000 Total 446.800 Baht.

com .060 *we take 26 days for working in month.700 7 13.670 9.900 3 83.000 Baht to pay for **we take 26 days for working in month.000 1 25.560 sets.com .300 4 Desk set 3 seats(Lab staff 3) 25.th/node/947 .P a g e | 99 EXHIBIT 4-9 Equipments within Lab room Price (Baht) Total (Baht) No.infinity-office.techno.kssfurniture.900 1 13.000 Baht to pay for (Source: http://www.068.080*** 604. www.000 5 Desk 3. In 5 years we will take for the set of test substance solution ZnO Easy Kit 1.690 6 Desktop PC(Lab staff 3) Air condition 27.300 1 20. we will use 156.560** 156.ac.345 2 6.900 8 Printer 1.560* 156. Firewood per month 2 10.670 1 1. www. Item Picture Amount 1 Set of test substance solution TMTD Easy Kit Set of test substance solution ZnO Easy Kit. we will use 156. www.psu.000 * 2 100 1. In 5 years we will take for the set of test substance solution TMTD Easy Kit 1.560 sets.com) .800*** Total 1.000** 3 20. Laboratory state 100 1.

000Bah per year and Water free around 60. we will take money for all of salary in 5 years about 4.140. So.ch7. Maintenance staff salary 15.800 Baht 1.com/news/news_thailand_detail.000 Baht×2 or 24.000 per Month (Source: Department of Industrial Promotion)  Worker Salary Our manufactory has workers with 30 people in every line of production.316 Baht/Month (Source: http://www. (Source: Department of Industrial Promotion) .768.000 Baht×3 or 45.P a g e | 100 4. They are working 8 hours in one day and take with 26 day per months. Lab staff salary 2.000 Baht 1. we have Lab staff 3 people and 2 of Maintenance staff. So. Water Fee and From the information in Department of Industrial Promotion.000Baht per year.5. Minimum wage in Chiangrai 166 Baht/Day or 4.000 per Month 12. 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. in 5 years we will pay for them which 7.aspx?c=2&d=117291&p=4)  Electricity Fee.5 Production cost  Lab Staff and Maintenance Staff Salary In the Lab room.

000 Baht per year and cost of maintenance machine around 168.052Baht per year.P a g e | 101  Expense of maintenance building and machine From the information in Department of Industrial Promotion. . we can estimate the cost of maintenance building around 60. we can estimate the cost of maintenance building around 540.000 Baht per year. (Source: Department of Industrial Promotion)  Lubricant expense From the information in Department of Industrial Promotion.

000 129.000 250.000 24.484 14.553.000 24.004 5.484 14.808 .000 5.000 24.000 24.000 18.480 10.000 216.000 Feb 45.000 168.000 129.480 10.000 Aug 45.000 Sep 45.004 5.480 10.000 18.000 250.000 18.484 14.000 5.000 540.000 129.000 250.000 18.000 129.000 18.000 129.000 24.000 24.000 5.000 Jul 45.484 14.484 Jan 45.000 129.004 5.000 18.484 14.484 14.480 10.000 24.480 10.000 5.000 Nov 45.000 Mar 45.000 5.000 250.000 5.000 129.000 Jun 45.000 129.000 18.000 3.000 24.000 129.000 250.000 250.000 129.000 24.000 129.000 18.000 May 45.000 18.000 5.000 790.000 540.480 10.048 60.000 Dec 45.480 10.000 250.484 14.480 10.000 18.000 250.004 5.000 5.480 10.480 10.000 5.000 250.004 5.000 14.484 14.484 Totals 540.004 5.480 10.484 14.000 288.000 129.000 Oct 45.000 250.000 24.000 250.004 5.760 120.000 5.000 60.480 10.004 5.000 18.004 5.545.004 5.004 5.000 Apr 45.000 18.004 5.000 1.000 5.000 24.000 24.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 14.484 14.000 5.

000 Aug 45.000 10.080 129.480 10.000 24.564 14.000 242.004 5.000 5.000 10.000 10.000 Apr 45.000 Mar 45.000 5.004 5.000 242.000 242.080 129.000 5.004 5.000 242.564 14.080 129.000 242.004 5.000 24.480 10.000 242.000 242.000 5.000 10.480 10.000 14.480 10.480 10.000 242.480 10.004 5.048 60.000 24.000 May 45.000 10.000 Nov 45.480 10.000 5.000 242.000 24.000 5.080 129.564 14.080 129.000 24.000 24.000 Oct 45.000 5.080 129.480 10.000 288.760 120.000 Jul 45.004 5.480 10.000 5.000 24.000 5.000 Jun 45.080 129.000 24.000 10.080 129.000 242.000 10.564 14.000 24.000 10.000 10.564 14.080 129.080 129.000 540.000 5.564 14.564 Jan 45.564 14.564 Totals 540.960 1.564 14.000 24.000 Feb 45.000 10.080 129.080 129.480 10.004 5.004 5.480 10.000 3.000 782.000 10.000 24.450.000 24.480 10.000 Dec 45.000 5.004 5.004 5.564 14.000 242.768 .000 Sep 45.000 10.000 5.000 120.000 540.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 14.004 5.004 5.000 168.000 60.564 14.553.

004 5.000 242.004 5.000 Oct 45.000 3.000 24.004 5.000 242.080 129.564 14.564 14.000 5.000 242.000 5.000 Aug 45.000 5.000 10.080 129.564 14.000 242.480 10.048 60.450.000 24.000 540.000 242.000 5.000 Totals 540.080 129.004 5.000 242.564 14.080 129.000 Apr 45.480 10.080 129.480 10.000 782.000 242.000 242.004 5.004 5.080 129.960 1.000 242.080 129.080 129.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 24.480 10.480 10.000 5.000 168.000 24.000 10.000 120.000 Dec 45.000 5.000 Jul 45.564 14.000 10.000 10.760 120.000 Feb 45.000 288.000 24.000 242.000 10.000 24.000 May 45.480 10.000 Jun 45.004 5.480 10.080 129.000 10.000 24.000 10.000 10.004 5.480 10.480 10.000 5.000 Mar 45.564 14.004 5.000 10.000 Sep 45.004 5.000 24.000 5.000 242.564 14.564 14.480 10.000 24.000 10.000 24.480 10.553.004 5.480 10.768 14.004 5.000 5.000 5.000 24.000 Nov 45.080 129.564 14.000 5.000 10.000 5.564 14.000 10.564 .564 14.000 60.000 24.080 129.000 540.080 129.

004 5.000 5.000 Mar 45.000 242.000 10.480 10.000 Nov 45.000 5.000 10.080 129.000 242.000 5.000 5.000 5.000 Aug 45.000 242.564 Jan 45.080 129.480 10.004 5.000 24.000 24.080 129.960 1.564 14.000 242.000 168.004 5.000 24.000 10.000 24.080 129.553.000 24.080 129.004 5.000 5.080 129.000 Feb 45.564 14.000 242.480 10.000 5.480 10.000 10.480 10.000 782.080 129.000 10.004 5.480 10.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 14.004 5.000 24.080 129.564 14.000 242.000 5.000 540.480 10.000 Dec 45.000 10.080 129.768 .048 60.480 10.760 120.004 5.080 129.000 May 45.000 24.000 5.564 14.000 288.000 24.000 Apr 45.004 5.000 242.000 120.564 14.000 24.000 Jul 45.000 242.450.004 5.480 10.480 10.564 14.564 14.000 540.000 242.080 129.564 14.000 10.000 24.000 5.000 10.000 3.000 14.000 10.564 Totals 540.000 10.000 10.000 24.000 60.000 24.000 5.000 242.000 10.564 14.004 5.004 5.000 Sep 45.480 10.080 129.480 10.000 Oct 45.564 14.000 242.004 5.000 Jun 45.000 5.

080 129.564 14.004 5.000 5.000 5.000 5.480 10.000 Oct 45.000 5.004 5.000 Jul 45.000 10.480 10.000 120.004 5.080 129.080 129.564 Totals 540.564 14.000 242.480 10.000 May 45.000 24.564 14.080 129.000 24.000 10.000 Jun 45.450.004 5.080 129.960 1.480 10.000 10.000 10.004 5.564 14.000 10.480 10.000 24.000 782.000 24.000 Mar 45.080 129.000 24.000 242.004 5.000 5.000 Dec 45.000 3.000 24.004 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 Feb 45.000 10.000 10.004 5.480 10.000 24.000 24.000 5.564 14.000 24.000 242.564 14.000 Aug 45.768 .000 10.080 129.000 5.004 5.000 10.000 5.000 24.564 14.000 242.480 10.000 540.000 242.000 5.480 10.080 129.000 242.000 288.000 168.760 120.000 242.000 242.000 540.564 Jan 45.000 10.480 10.000 10.080 129.000 242.004 5.564 14.048 60.480 10.553.004 5.000 24.000 Sep 45.000 10.000 242.000 5.000 Apr 45.564 14.000 5.000 242.080 129.564 14.080 129.000 14.000 60.480 10.004 5.480 10.000 Nov 45.000 5.000 24.

It is including Latex.6. start from the supplier around Chiang Rai send the raw material to us. which party will pay on the transportation cost.6 Logistics and Transportation cost 4.P a g e | 107 4. Inbound: In domestic. 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. .

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

054 2015 37. .500.th/product-th-353965-1647870 ) .426.045 2012 28.. .435 2.314.982.768.598 3.816 3.740.2 Inventory management Taxes: VAT 7% and withholding of 3 % per Year.Protection of the full year. .659 Insurance: Our Company chooses deal business with Mittare Insurance Co. .114.801.574.378 3.Does not cover products that are illegal or high risk. Capital 1. .450 1.831.495 1.831 772. Trainer protected container. . Cost: 17. The case of an accident condition: -10.P a g e | 109 4.Do not notify every run.Suitable for car truck tractor that runs offshore shipping. Ltd.000 per year.130.594 2014 34.686.238 1.398.061 1.944 2.539 2.Consumer protection online.000 Baht or 10% of damage.co.213 2.449 2013 31. Table 4-10 Total Taxes Year Sale Forecast (price) VAT 7% Withholding 3% Total Per: Baht 2011 25.perfect-broker.260.500 Baht/Year Detail: Cargo insurance in the country.Unlimited number of flight.015 849.180.638. (Source: http://www. -Do not notify the cabinet product.593 2.027.6.145.216 934.

659 17.084 Cost/Baht -13.000- .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.094 2014 3.848.114.449 17.500 3.594 17.000 2.786.443.949 2013 3.P a g e | 110 Table 4-11 Inventory Service Costs Year Taxes Insurance Total Per: Baht 2011 2.132.500 3. Our products are Block rubber and rubber smoked sheet don’t have any cost of obsolescence.500 3. (Source: http://logistics.591.500 2.450.084 0 12.574.com/?tag=public-warehouse-cost) 0 10.arch56.426.831.554 2015 3.054 17.545 2012 2.768.500 2. So we don’t have any cost of relocation. We don’t have Relocation Cost because our company has only one warehouse near manufactory.045 17.

962 12.962 12.800 445 2.291 230.245 1.309 1.046 215.046 215.046 215.268 1.305 1.962 12.800 505 2.084 228.046 215.084 228.084 228.962 12.800 509 2.962 12.800 468 2.351 230.084 228.P a g e | 111 4.356 230.800 500 2.3 Total Logistic Table 4-13 Total Logistic Cost.309 215.962 12.084 228.084 228.305 1.245 1.046 Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec Not Including 230.046 215.245 1.962 12.291 230.962 12.962 12.314 230.356 Per: Baht .314 230.962 12.046 215. 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 230.351 230.346 230.6.800 445 2.245 1.084 228.046 215.800 500 2.084 228.300 1.046 215.291 1.084 228.800 509 2.084 228.046 215.300 1.346 230.084 228.084 228.800 468 2.046 215.268 1.962 12.800 445 2.800 445 2.291 230.800 505 2.046 215.962 12.

084 249.723 251.496 237.800 528 2.496 237.824 251.328 Not Including 251.824 251.824 251.328 1.084 249.328 1.226 1.824 Per: Baht .226 1.084 249.800 426 2.226 1.824 251.496 237.723 251.824 251.496 237.084 249.800 528 2.084 249. 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 237.084 249.496 237.084 249.824 251.800 528 2.226 1.328 1.723 251.723 251.800 528 2.084 249.800 426 2.412 12.800 426 2.800 528 2.P a g e | 112 Table 4-14 Total Logistic Cost.496 237.412 12.412 12.412 12.800 528 2.496 237.084 249.800 528 2.412 12.328 1.412 12.496 237.496 1.412 12.412 12.412 12.412 12.800 528 2.412 12.328 1.496 237.328 1.084 249.412 12.084 249.800 426 2.084 249.496 237.824 251.328 1.496 237.

237 1.084 273. 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 261.008 12.P a g e | 113 Table 4-15 Total Logistic Cost.084 273.348 1.348 1.084 273.084 273.008 12.800 548 2.440 275.800 437 2.008 12.800 437 2.008 12.084 273.084 273.348 1.008 12.348 Not Including 275.800 548 2.348 1.008 12.800 548 2.092 261.237 1.092 261.092 261.092 261.800 437 2.092 261.800 548 2.348 1.800 437 2.348 1.440 275.440 Per: Baht .008 12.800 548 2.440 275.237 1.348 1.328 275.440 275.008 12.084 273.092 261.237 1.800 548 2.084 273.092 1.440 275.084 273.092 261.440 275.084 273.008 12.328 275.800 548 2.092 261.084 273.008 12.092 261.800 548 2.008 12.008 12.440 275.092 261.328 275.084 273.328 275.092 261.

600 596 4.295 301.800 448 2.196 3.242 303.248 1.600 596 4.600 596 4.242 301.047 286.047 286.600 596 4.084 299.242 303.084 299.047 286.196 3.196 Not Including 303.047 286.600 596 4.P a g e | 114 Table 4-16 Total Logistic Cost.047 286.963 12.084 299.084 299.295 301.963 12.248 3. 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 286.242 Per: Baht .196 1.800 448 2.047 286.963 12.963 12.047 286.295 301.047 286.084 299.084 299.084 299.047 3.963 12.800 448 2.047 286.084 299.248 1.963 12.047 286.963 12.963 12.242 303.600 596 4.963 12.248 1.196 3.295 303.600 596 4.084 299.084 299.047 286.963 12.242 303.084 299.196 3.800 448 2.196 3.242 303.600 596 4.196 3.242 303.084 299.963 12.963 12.

513 12.597 315.597 315.600 620 4.084 327.597 315.084 327.513 12.084 327.513 12. 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 315.084 327.084 327.260 3.220 3.597 315.220 3.220 3.260 1.817 331.857 329.597 3.600 620 4.817 331.513 12.600 620 4.513 12.817 331.817 331.597 315.513 12.P a g e | 115 Table 4-17 Total Logistic Cost.600 620 4.220 3.597 315.513 12.800 460 2.220 Not Including 331.513 12.084 327.857 329.260 1.597 315.800 460 2.817 331.260 1.220 3.817 Per: Baht .857 329.600 620 4.800 460 2.597 315.084 327.597 315.084 327.084 327.800 460 2.084 327.084 327.600 620 4.513 12.220 1.600 620 4.597 315.513 12.220 3.600 620 4.513 12.817 329.857 331.513 12.597 315.084 327.817 331.

Our company deal with Golden lake Co. The rates that we agree are Diesel Ten-wheel capacity 22 tons per times to be cost 1.2 Logistics Administration Cost of Logistics Administration is including with Administration Cost.Baht 2. Vechicles Adminission Fee . Ltd. Charges Against Shipowners.Fee for vehicle loading or discharging within Chiang Khong Port 8-10 Wheel Truck 25.P a g e | 116 4.Baht/Tonne/m3 (Source: http://www1.html) 4.port. each month we separate to two times on second week and last week of month for transport the product to the Chiang Khong Port.. Charges Against Consignees.800 Baht.Baht/Unit 10..6.6. Our company transportation goods by pass Chiang Khong Port (Port Authority of Thailand) We have cost of Tariff for transportation: 1. .. Ship’s Agents or Applicants Vessel of over 100 GT 300.3..th/ckp/eng/dataset5/data1.1 Transportation Costs of Truck-Local (Diesel Ten-wheel) For transportation.3.co.Cargo Loading or Discharging Free Conventional cargo 3. Consignors or Applicants .

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

The administration zones have 1 small meeting room. living room.000 20.000 20.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 24.There are 1 housekeeper and 1 diver.000 (Resource: http://www.000 20.000 231. and canteen In outside area there are 2 sentry boxes in front of entrance door and exit door.000) 1 person 2 person (2*12. Toilet.000 12.000) 1 person 1 person 2 person (2*8. .pdf) 4.000 24.3 Administration Zone This is Administration zone there are 7 employees (there are 3 private rooms for executive included 4 employees).co.7.7.000) 2 person (2*12.000 17.500) 4 person (2*5.adecco.000 12.2 Administration Expense  Employee salary 1 person 1 person 1 person 1 person 2 person (2*12.P a g e | 118 4.000 24.000) EXHIBIT 4-10 Wage rate for our organization 30.000 20.000 8.

520. All of this we can calculate the number of money with is 2.155 .P a g e | 119 EXHIBIT 4-11 Administration Zone Storeroom Storeroom Toilet  Office equipments In the office.976 Baht. Item Picture Price (Baht) 29. we use many of equipment to operation. EXHIBIT 4-12 Office Equipments Cost No.500 Amount Total (Baht) 206.500 1 Desk 7 2 Desktop PC 10.165 7 71.

P a g e | 120 No.800 10 Set up cost(Air) 2.900 1 14 Microphone 6.900 1 89.000 1 15.200 16 Table 3.000 Projector 89.900 12. Item Picture Price (Baht) 3.000 15 Sofa 12.500 6 Ink 75 750 7 Receipt paper 105 12 1.750 5 A4 paper 10 10 550 5.900 13 Loudspeaker 12.100 Amount Total (Baht) 12.250 7 8.260 8 Printer 1.000 11 12 Table 15.340 9 Air condition 13.789 1 3.400 3 Telephone 4 4 Stationery 1.670 2 3.900 2 27.600 10 66.789 17 Flower 120 4 480 .200 1 12.500 2 5.

990 25 Lavatory 1.600 23 Refrigerator 8.190 24 Sink 3.689 1 1.800 2 11. Item Picture Price (Baht) 440 Amount Total (Baht) 440 18 Carpet 1 19 Disk rack 1.689 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 .990 1 3.P a g e | 121 No.190 1 8.279 2 2.125 21 Glasses 15 12 180 22 Table 5.558 20 Disk 225 5 1.

338. . We choose to take the guard ready-made.520.com/index.P a g e | 122 No.topvictorystar.cetechgroup.co. Item Picture Price (Baht) 607.800 Baht for. EXHIBIT 4-13 Guardhouse Equipment Cost No.http://www.000 Amount Total (Baht) 100. Item Picture Price (Baht) 50.000 33 Vigo car 1 34 Van 1.php.000 1 1.338.976 Guardhouse equipment In the part of Administration zone are include with guardhouse in enter and exit way.000 1 Guard ready-made 2 2 Traffic cone Total 380 10 3. We will pay 103.000 Total 2.800 103.php?lay=show&ac=article&Id=573945&Ntype=2) .000 Amount Total (Baht) 607.th/products.800 (Source: http://www.

sso.th/water_calculation.mwa.th) .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.th : Water expense: http://www.com : Social security insurance: http://www.545/y 2.750/ 3 month 5.89/month 500/month 8.dhipaya.000/y 33.tninsure.571.co.viriyah.go.dpu.3.3bb.th/ : Electricity expense: http://www.th/ : Fire insurance: http://www.html : Car insurance: www.525/y 5.600/y Base (Source: Telephone and Internet expense: http://www.000/month 7.ac.co.7.550/month 7.th : Machine insurance: http://www.co.P a g e | 123 4.co.

545 2.572 500 5.000 17.000 17.600 324.550 7.550 7.622 Apr 231.572 500 5.550 7.572 500 8.000 17.000 17.750 5.000 7.042 Feb 231.545 2.750 5.772.000 261.000 8.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 231.000 17.863 6.000 17.550 7.000 33.572 500 5.572 500 8.550 7.550 7.525 5.000 261.600 90.572 500 5.000 270.000 270.000 270.000 60.000 7.000 33.545 2.000 7.000 261.622 Oct 231.600 324.622 Dec 231.750 5.622 Sep 231.000 17.622 Mar 231.550 7.000 17.622 Jun 231.525 5.000 17.572 500 5.000 17.000 210.572 500 5.000 33.622 Jul 231.622 Total 2.000 17.000 261.000 261.572 500 5.572 500 8.550 7.000 261.572 500 5.525 5.550 7.550 7.000 8.372 Nov 231.000 261.133 .750 5.550 7.750 5.000 35.000 17.600 3.572 500 5.000 17.042 Jan 231.372 Aug 231.550 7.572 500 5.000 5.228.550 7.000 261.372 May 231.

000 17.000 261.042 8.622 Sep 231.550 7.000 261.000 17.572 500 5.572 500 8.000 261.000 8.000 17.372 Apr 231.000 261.550 7.525 5.525 5.000 17.000 17.545 2.622 Aug 231.550 7.622 Nov 231.572 500 5.550 7.863 6.000 17.550 7.000 7.572 500 5.000 17.000 261.600 3.622 Dec 231.572 500 Total 2.545 2.000 17.572 500 8.572 500 5.000 270.000 261.750 5.572 500 8.750 5.223.000 33.000 17.550 7.750 5.622 Jun 231.550 7.572 500 5.372 Jul 231.600 90.550 7.750 5.550 7.550 7.000 261.000 17.572 500 5.000 33.600 319.000 33.622 Mar 231.572 500 5.550 7.000 270.000 270.133 .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 231.572 500 5.622 Feb 231.000 7.000 210.000 17.000 17.550 7.000 17.372 Oct 231.550 7.000 0 35.525 5.000 261.000 7.572 500 5.622 May 231.545 2.772.600 324.000 60.750 5.042 Jan 231.

600 90.622 Dec 231.000 261.550 7.372 5.000 17.572 500 5.600 319.550 7.000 270.572 500 8.600 3.572 500 5.550 7.000 17.000 17.000 270.000 17.550 7.372 5.572 500 8.000 7.000 261.545 2.545 2.000 17.550 7.550 7.000 17.622 Nov 231.000 0 60.525 5.600 324.550 7.750 5.000 17.000 270.550 7.000 261.000 261.622 Jun 231.000 17.622 May 231.550 7.000 33.000 17.572 500 8.550 7.223.000 7.000 17.000 261.000 5.550 7.572 500 8.572 500 Oct 231.572 500 Total 2.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 231.572 500 Jul 231.000 210.863 6.042 Jan 231.750 5.000 17.572 500 Apr 231.750 5.750 5.000 33.550 7.550 7.372 5.572 500 5.000 35.000 261.622 Feb 231.000 17.000 33.772.545 2.622 Sep 231.525 5.622 Aug 231.000 7.572 500 5.750 5.133 .572 500 8.042 5.525 5.000 261.000 261.622 Mar 231.000 17.

000 17.863 6.000 17.622 Aug 231.550 7.000 17.622 Sep 231.000 261.550 7.000 60.525 5.572 500 5.600 324.133 .550 7.000 270.000 261.545 2.000 0 35.622 Jun 231.550 7.000 17.545 2.525 5.550 7.622 May 231.572 500 5.000 210.000 17.000 261.550 7.572 500 8.750 5.372 Jul 231.572 500 5.572 500 5.572 500 5.525 5.750 5.572 500 5.750 5.550 7.000 17.000 7.572 500 5.622 Mar 231.000 270.000 7.000 270.622 Dec 231.372 Oct 231.000 17.572 500 5.042 Jan 231.000 261.000 261.600 319.000 17.000 7.550 7.550 7.000 8.000 33.622 Nov 231.042 8.550 7.750 5.000 33.600 3.000 17.750 5.622 Feb 231.772.000 17.550 7.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 231.545 2.572 500 5.223.000 261.572 500 8.000 17.372 Apr 231.572 500 Total 2.000 261.572 500 8.000 17.550 7.000 261.000 17.550 7.000 33.600 90.

000 261.572 500 5.000 17.622 Dec 231.572 500 5.000 7.000 270.372 Apr 231.000 210.000 17.000 33.572 500 8.550 7.525 5.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 17.550 7.545 2.572 500 5.863 6.550 7.622 Jun 231.000 60.525 5.000 33.000 17.750 5.572 500 5.223.572 500 5.000 17.550 7.000 270.000 17.750 5.000 17.572 500 Total 2.000 17.550 7.000 261.372 Oct 231.545 2.550 7.000 17.572 500 8.525 5.042 8.572 500 5.000 261.000 17.600 90.550 7.000 7.000 0 35.000 17.550 7.572 500 5.600 324.000 270.600 319.622 Sep 231.000 17.000 33.550 7.000 261.622 Nov 231.372 Jul 231.550 7.750 5.000 7.550 7.000 261.550 7.622 May 231.000 261.545 2.572 500 5.133 .000 17.772.622 Feb 231.042 Jan 231.000 261.600 3.572 500 5.000 8.750 5.550 7.622 Mar 231.572 500 8.622 Aug 231.000 261.750 5.

000 12.442 1.000 12.483 215 2.900 66.8 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 2.483 215 2.483 215 2.231 10.186 904 56 463 250 1.990 Jan 3.442 1.186 904 56 463 250 1.750 203 63 137 107 193 67 Apr 3.750 203 63 137 107 193 67 Jun 3.186 904 56 463 250 1.800 15.483 215 2.300 14.750 203 63 137 107 193 67 Sep 3.580 33.279 2.600 3.442 1.750 203 63 137 107 193 67 Mar 3.500 71.750 203 63 137 107 193 67 Total 41.483 215 2.483 215 2.750 203 63 137 107 193 67 Oct 3.186 904 56 463 250 1.789 8.340 27.000 89.186 904 56 463 250 1.440 758 1.750 203 63 137 107 193 67 Jul 3.442 1.750 203 63 137 107 193 67 Feb 3.200 3.483 215 2.442 1.750 203 63 137 107 193 67 May 3.000 17.483 215 2.442 1.186 904 56 463 250 1.186 904 56 463 250 1.750 203 63 137 107 193 67 Aug 3.442 1.186 904 56 463 250 1.750 203 63 137 107 193 67 Dec 3.000 2.850 668 5.442 1.700 3.483 215 2.442 1.186 904 56 463 250 1.483 215 2.442 1.560 3.483 215 2.800 2.P a g e | 129 4.186 904 56 463 250 1.750 203 63 137 107 193 67 Nov 3.320 798 .186 904 56 463 250 1.186 904 56 463 250 1.442 1.190 2.558 11.155 21.442 1.638 1.

941 23.941 23.117 10.230 1.117 10.667 2.230 1.230 1.117 10.000 10.338.230 1.667 2.667 2.941 23.604.117 10.117 10.667 2.400 26.667 2.230 1.941 23.117 1.230 1.941 .941 23.667 2.230 1.117 10.941 23.760 20.230 1.667 121.941 23.667 2.288 2.000 100.680 680 320 750 180 650 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 90 130 607.941 23.000 287.230 1.667 2.667 2.941 23.000 2.982 23.941 23.230 1.117 10.117 10.made Total Amount Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec Total 1.230 1.117 10.117 10.667 2.P a g e | 130 Administration Toilet Lavatory Mirror Box Sink Douche Storeroom Shelf Office Transportation Vigo car VAN Guard ready.941 23.117 10.667 2.230 1.

800 15.990 Jan 3.700 3.279 2.750 203 63 137 107 193 67 Feb 3.186 904 56 463 250 1.000 2.900 66.186 904 56 463 250 1.750 203 63 137 107 193 67 Apr 3.186 904 56 463 250 1.750 203 63 137 107 193 67 Jul 3.442 1.789 8.231 10.442 1.340 27.442 1.000 17.190 2.750 203 63 137 107 193 67 Mar 3.186 904 56 463 250 1.483 215 2.000 89.440 758 1.442 1.320 798 .442 1.442 1.186 904 56 463 250 1.186 904 56 463 250 1.600 3.483 215 2.800 2.850 668 5.750 203 63 137 107 193 67 Oct 3.750 203 63 137 107 193 67 Aug 3.483 215 2.483 215 2.500 71.750 203 63 137 107 193 67 May 3.186 904 56 463 250 1.000 12.442 1.442 1.750 203 63 137 107 193 67 Dec 3.483 215 2.750 203 63 137 107 193 67 Sep 3.186 904 56 463 250 1.638 1.000 12.200 3.300 14.186 904 56 463 250 1.750 203 63 137 107 193 67 Jun 3.442 1.483 215 2.483 215 2.483 215 2.483 215 2.580 33.750 203 63 137 107 193 67 Total 41.750 203 63 137 107 193 67 Nov 3.155 21.442 1.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 206.483 215 2.558 11.483 215 2.442 1.442 1.186 904 56 463 250 1.186 904 56 463 250 1.186 904 56 463 250 1.560 3.483 215 2.

941 23.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 1.941 23.230 1.117 10.117 10.760 20.117 10.667 2.941 23.230 1.117 10.117 10.230 1.338.667 2.400 1.941 287.230 1.230 1.667 2.667 2.667 2.667 2.230 1.230 1.941 23.604.941 23.117 10.117 10.117 10.288 .000 2.667 2.230 1.667 2.117 10.230 1.941 23.000 10.941 23.667 26.230 1.667 2.982 23.230 1.000 2.941 23.941 23.000 100.667 2.941 23.117 10.117 10.941 23.230 1.117 121.667 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.

186 0 56 463 250 1.300 14.186 0 56 463 250 1.442 1.483 215 0 203 63 137 0 193 67 3.483 215 0 203 63 137 0 193 67 41.442 1.800 15.000 17.186 0 56 463 250 1.155 21.442 1.186 0 56 463 250 1.600 3.186 0 56 463 250 1.186 0 56 463 250 1.483 215 0 203 63 137 0 193 67 3.186 0 56 463 250 1.560 3.483 215 0 203 63 137 0 193 67 3.442 1.000 12.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 206.186 0 56 463 250 1.580 0 2.186 0 56 463 250 1.900 66.186 0 56 463 250 1.186 0 56 463 250 1.483 215 0 203 63 137 0 193 67 3.800 2.442 1.442 1.483 215 0 203 63 137 0 193 67 3.442 1.340 27.483 215 0 203 63 137 0 193 67 3.190 2.186 0 56 463 250 1.442 1.200 3.483 215 0 203 63 137 0 193 67 3.442 1.442 1.000 89.483 215 0 203 63 137 0 193 67 3.638 0 2.000 12.558 11.442 1.483 215 0 203 63 137 0 193 67 3.700 3.320 798 .442 1.440 758 1.483 215 0 203 63 137 0 193 67 3.789 8.231 0 668 5.500 71.483 215 0 203 63 137 0 193 67 3.990 3.

230 2.000 10.667 1.667 1.667 1.000 2.667 1.230 2.604.230 2.000 2.117 121.667 20.172 20.230 2.172 20.230 2.230 2.000 1.172 20.117 10.230 2.230 2.338.117 10.172 20.117 10.P a g e | 134 Administration Toilet Lavatory Mirror Box Sink Douche Storeroom Shelf Office Transportation Vigo car VAN Guard readymade Total Amount 1.760 100.667 1.117 10.117 10.117 10.117 10.117 10.230 2.069 .172 242.172 20.172 20.667 1.400 1.667 1.172 20.117 10.982 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 0 130 607.667 1.667 1.172 20.230 26.172 20.117 10.667 1.172 20.230 2.172 20.667 1.230 2.117 10.

200 3.442 1.500 71.000 12.442 1.186 0 56 463 250 1.186 0 56 463 250 1.000 17.442 1.442 1.483 215 0 203 63 137 0 193 67 3.186 0 56 463 250 1.580 0 2.483 215 0 203 63 137 0 193 67 3.186 0 56 463 250 1.442 1.186 0 56 463 250 1.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 206.186 0 56 463 250 1.186 0 56 463 250 1.483 215 0 203 63 137 0 193 67 3.800 2.442 1.483 215 0 203 63 137 0 193 67 3.900 66.442 1.186 0 56 463 250 1.442 1.560 3.990 3.000 12.440 758 1.483 215 0 203 63 137 0 193 67 3.483 215 0 203 63 137 0 193 67 3.700 3.320 798 .600 3.186 0 56 463 250 1.789 8.186 0 56 463 250 1.340 27.155 21.231 0 668 5.442 1.483 215 0 203 63 137 0 193 67 3.186 0 56 463 250 1.186 0 56 463 250 1.190 2.558 11.638 0 2.000 89.483 215 0 203 63 137 0 193 67 3.300 14.483 215 0 203 63 137 0 193 67 3.483 215 0 203 63 137 0 193 67 41.442 1.483 215 0 203 63 137 0 193 67 3.800 15.442 1.442 1.483 215 0 203 63 137 0 193 67 3.

400 Vigo car 1.117 10.172 20.172 20.069 .230 2.000 10.667 1.230 2.117 10.172 20.230 2.000 1.338.172 20.117 10.117 10.230 26.172 20.667 1.667 1.230 2.760 VAN Guard ready100.230 2.117 10.172 20.117 10.604.172 20.667 1.117 10.667 1.117 10.172 20.000 2.667 20.230 2.667 1.117 10.000 made Total 2.230 2.982 20.172 242.230 2.230 2.667 1.680 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 607.230 2.117 121.P a g e | 136 Administration Amount Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec Total Toilet 1.172 20.667 1.667 1.117 10.667 1.230 2.172 20.667 1.172 20.117 10.

000 12.442 1.483 215 0 203 63 137 0 193 67 Nov 3.000 89.442 1.900 66.442 1.800 15.483 215 0 203 63 137 0 193 67 Feb 3.560 3.558 11.442 1.483 215 0 203 63 137 0 193 67 Mar 3.190 2.186 0 56 463 250 1.186 0 56 463 250 1.483 215 0 203 63 137 0 193 67 Apr 3.186 0 56 463 250 1.186 0 56 463 250 1.483 215 0 203 63 137 0 193 67 Jul 3.320 798 .442 1.483 215 0 203 63 137 0 193 67 Jun 3.442 1.800 2.638 0 2.186 0 56 463 250 1.789 8.483 215 0 203 63 137 0 193 67 Sep 3.442 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 206.483 215 0 203 63 137 0 193 67 Aug 3.186 0 56 463 250 1.186 0 56 463 250 1.186 0 56 463 250 1.155 21.442 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 Oct 3.580 0 2.442 1.483 215 0 203 63 137 0 193 67 Dec 3.440 758 1.500 71.300 14.442 1.700 3.000 12.186 0 56 463 250 1.442 1.990 Jan 3.483 215 0 203 63 137 0 193 67 Total 41.186 0 56 463 250 1.231 0 668 5.000 17.442 1.186 0 56 463 250 1.200 3.600 3.340 27.

667 1.172 20.230 2.172 20.667 20.230 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 1.604.230 2.172 20.172 20.230 2.117 10.069 .117 10.117 10.667 1.172 20.117 10.172 20.117 10.117 121.760 100.667 1.000 2.172 20.230 2.172 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 0 130 607.000 1.667 1.117 10.667 1.667 1.172 20.982 20.230 26.667 1.117 10.400 1.172 20.667 1.230 2.230 2.117 10.667 1.338.172 242.230 2.117 10.230 2.000 2.172 20.117 10.667 1.117 10.667 1.230 2.000 10.

first is the direct purchase the field latex from the agriculturist and purchase the middleman to purchase from the agriculturist. 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. This is following the data of company. Far the Chiang Khong district in the distance is 2 kilometer.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. The companies have the data for ready to export. equipment for purchasing. Our divides the categories of product bring to process are rubber process is the Rib Smoked Sheet or RSS and STR block rubber. In the export department. For the expense .The trade route of company to using is emphasize save a time and save cost . For the located or stand the factory. The company fixed price follows the purchase price and sale price. Domestic purchase price hold the price of central rubber market is purchase from the agriculturist and sale price for export. 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. We emphasize the high export the STR block rubber are 40% and Rib Smoked Sheet are 30% . 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. contact the export data and testing the possibility for export. seek the data for setting the factory. In the part of management the company have the operation from the step is the seek the location. We have the location near with the ChiangKhong district in Chiang Rai province. In the process for our step. 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. process in production of the Rib Smoked Sheet or RSS and STR block rubber. We using the predict price of before market follow the world price. We think the rubber process is interesting.P a g e | 139 4.

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

P a g e | 141 Chapter 5 Financial Analysis .

There are 24.794.1 Total requirement and the source fund 5.776 6.860 .450.553 71.1.000 446.435.000 6.068.774 Baht of Total requirement Table 5-2 Operating Investment Operating Investment Production machine Testing Lab Equipment Building Total Baht 7.112 101.000.1.624.1 Financial Statement 5.822 24.060 8.794.1 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 596.774 The table shows above represents the total funding requirement of the beginning of this project.800 1.514.860 2.1.650 8.P a g e | 142 Financial Analysis 5.514.

994.994. Table 5-4 Inventory purchasing Inventory purchasing January February March Total Baht 1.776 Inventory purchasing.000 6.445.885 2.875.000 1.343 6.325.000 2. So we want the money to operation within these 3 months.800 2.875.624.976 103.520.075. we use first 3 months of 2011 because we have the condition about Account Receivable for customers must to pay money within 3 months.112 .435. Operating Expense and Administrative Expense.P a g e | 143 Table 5-3 Administrative investment Administrative investment Office equipments Supply Total Baht 2.000 Table 5-5 Operating Expense Operating Expense January February March Total Baht 1.885 1.

000.2 The source of fund Our company will borrowing fund from investor who interest this project and want to invest with us. .000.941 71. Total requirement is 25. The investor not have risk with net income of our business if the business loss the investor not responsible with us.1. So. According to the Daily interest rate of commercial banks from Bank of Thailand.000 Baht. a loan amounts of 25.941 23. The interest rate of our company more than average interest rate of commercial banks.7791% and Average of Foreign Bank Branches is 7.822 5. The reasons that make investor invest with us: 1. Minimum loan rate of Daily interest rate of commercial banks have Average of Commercial Banks registered in Thailand is 6. Interest will be 12% per annum.000 Baht within 10 years of repayment. The length that we have pay loan are only 10 years. So. We will continue pay the money that we loan and the interest too. the interest loan rate that we have 12% more than 3-4% of commercial banks.P a g e | 144 Table 5-6 Administrative Expense Administrative Expense January February March Total Baht 23. 3.941 23. 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.5417%.1. 2. The investor will get refund faster.

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.

242 2.298.054 3.230 200 261.622 0 53.730 200 270.762 523.470 1.387.054 1.664 242.564 301.622 0 53.619 -131.038.433 144.108 326.108 314.426.054 3.930 0 261.622 0 53.254 -136.426.078 8.242 2.470 1.038.630 723.470 1.713.426.426.713.584 18.185 723.732 193.221 242.242 2.038.387.108 314.235 -238.462 -382.498 -330.737 57.260.079 186. 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) 1.539 Jan Feb Mar Apr May Jun Jul Aug Sep Table 5-10 Income Statement.426.042 0 13.295 1.5% each month following the Revenue Department.242.768 3.223.027 1.242 2.474 -127.486 57.242 2.933 -777.387.526.470 1.450.295 1.841.584 1.564 303.664 242.302 715.426.108 314.289 57.054 3.213 -442.117 25.841.846 57.426.133 0 13.631.622 0 53.618 723.426.885.917 180.594 57.565 -311.713.242 2.107 386.372 0 53.948 982.387.475 203.841.543 1.027 1.564 303.036 57.332.038.098 449.282 191.713. we must to pay the tax in rate of 30% per annual equal to 2.668 -324.108 323.054 3.470 498.054 34.462 475.476 689.526.564 303.872 -127.841.564 303.630.354 185.027 1.251 57.104 -911.480 200 261.730 200 261.782 195.982 196.295 1.622 0 0 53.054 3.221 242.109 0 261.387.462 466.104 188.664 242.841.054 3.027 1.054 3.054 3.027 1.038.564 303.564 301.108 318.564 303.426.564 303.744.948 1.622 0 53.275 -4.713.027 1.608.700 3.584 1.470 1.713.664 242.242 2.426.372 0 53.713.841.462 391.108 318.079 186.980 200 261.470 1.854 57.662.054 3.841.027 3.006.230 11.654 190.221 242.930 3500 270.054 3.841.930 0 270.948 982.351 57.890 526.462 469.654 200.054 3.634.584 982.426.054 3.604 198.054 3. 2014 Oct Nov Dec Totals 652.224 57.470 1.387.295 1.760 637.426.086 -25.622 0 53.189 37.200 4.664 242.038.060 711.462 -380.327 522.132 513.462 455.222 0 Note: Tax: According to our company is company limited.680 3500 261.387.221 242.038.574 2.P a g e | 148 Thai-North Rubber Industry Company Income Statement For Year Ended December 31.461 3.242 2.584 1.930 3500 261.426.079 186.654 186.108 314.079 186.316 -323.426.828 1.969 723.027 1.948 982. . So.294 3.584 1.462 479.526.054 3.462 -62.308 2.193 3.713.462 464.426.622 0 0 53.578 -1.854 201.372 0 53.108 314.564 303.462 -380.887 1.130 57.664 242.664 242.391 -1.080 -618.024 536.564 301.108 314.155 200 319.564 301.584 1.813 -323.584 1.664 782.108 323.927.713 533.526.387.516.462 -387.352 57.426.760 53.539 34.260.

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

672 2.657.818 221.625 6.471 21.955 19.717 15.025.824 6.102 -2.211.596 6.574 20.926 19.567 3.633.467 73.155 18.000.982 -2.489 2.364.422 19.785.710 20.772 21.864 20.350 -949.450.743.484 19.602.189 172.000 6.788.000 6.845.128.420.609 -1.922.456.757 3.313.840.076.135 5.122.468.653.278 19.800.510.092 20.619 21.171.073.803.000 6.471 270.067.155 -1.934 1.788.946 4.634.219.419 6.947. 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 2.606 -1.672 -2.650.000 6.949.422 -2.518 0 20.293.293.000 6.079 1.669 147.536.950 1.544 15.025.000 6.609 1.684.734.813 20.869.337 1.603.718.818 20.274.840 1.415 -1.484 -1.306 2.102 2.000 6.922.663 -1.062 18.752.178.318.450.510 14.000 6.472.909.232 49.894.913 2.709.955 21.420.620.392 20.954.370 2.000 6.450.274.294 98.353 6.032.555.847 19.997.363 .502 6.335.728 20.450.062 15.969.367.567 4.129.010.602.841.695.775.885 1.803.764.135 4.283 20.450.526 -2.700 123.803.668.855 14.884 -1.868.318.477 21.000 6.494 20.791.719.357.724.977 -2.208 1.716 21.053.401.357.560 -2.415 1.011.634.441 6.272 1.982 2.606.386 19.692 2.708 2.335 21.597 2.211.450.303.602 20.055.739 18.338 14.505 6.668.640 6.585.172.871.628.403 19.785.990.728 -949.654 6.303.234 15.473 2.757 4.450.489.858 21.864 -1.352 -1.450.423.560 19.789 6.682 14.946 5.884 20.737 6.129.655.106.606 2.027 14.170 18.975 -1.845.931 19.997.789.624.178.171.808.585.193 20.403 -1.756 1.522.930.401.603 24.889.518 -2.129.764.032.239 21.143 1.490 2.803.192 5.684.212.828.243 196.223 21.200 14.505 2.325 21.786.929.468.290.401 1.899 246.524 20.245.868.536.663 2.450.372 14.097 21.335.067.363 FEB MAR APR MAY JUN JUL AUG SEP OCT NOV DEC 21.000 6.526 18.657.686.135 4.450.821 1.256 1.925.P a g e | 152 Table 5-14 Balance Sheet.014 1.977 18.913 -1.450.252.793.159.592.198 20. 2013 Thai-North Rubber Industry Company Balance Sheet December 31.848.248 4.596 1.508.043 -1.385 21.771.352 1.975 20.588.931 -1.390.000 6.796 21.450.135 5.350 2.043 2.955.681.889 15.487.

898 6.695 19.450.578 19.132 1.256.569.242.155.753 2.327 18.876 18.121 2.150.488 0 18.574.540 4.565 -777.000 6.794.102.161 -777.961 6.578 -618.753 -911.942 18.812.581 2.061.524 19.000 6.903 19.626.156 37.321.853 1.157 19.386 20.165 14.525.346.213 -911.029 6.933 6.189 18.061.489.599.724 1.156 2.661 19.019.450.529 6.000 6.131 3.592.495 6.363.824.011 4.373 3.450.660 1.238.450.488 -1.213 18.450.450.592.488 20.522.450.841 2.614 14.345 18.200 19.176 1.667.352 287.722.030.699 19.778.724 4.726 574.026 57.203.995.644.061.196.467.606.220.416 19.086 37.448 4.789 1.266.541.712 -1.768.979 114.580 6.104 -1.161 1.531 1.337 -311.984 18.546.574.519.314 2.361.000 6.242.876 6.647.958 14.768 18.433 19.131 14.097.391 -1.161 459.448 5.727.569.632 4.467.329.928 344.830.005.104 18.083.505.724 3.848 19.918 1.006. 2014 Thai-North Rubber Industry Company Balance Sheet December 31.445 18.335.595 1.561.924 20.726.691.343.632 18.192.314 144.632 4.448 5.346.450 3.484 3.771 19.163.061.235 20.565 19.712 2.343.706.956 2.402.324.397 2.083.000 6.152.159.308 20.586.991.081 19.982 1.416.641.955 2.225.111 1.822 6.235 144.261.028.004 1.553 19.144.824.132 -25.309 19.103 19.269 13.378.102.687.005 19.820.093.820 14.966 632.990.728 6.847.211.240 2.000 6.729 2.321.785 517.120.000 6.540 5.814 6.575.450.310.000 6.083.092 19.708.266 .189.047 1.000 5.448 5.357.337 2.055.316.086 19.189 -442.189.466 1.469.083.088.541.357.000 6.126.978.327 -1.856 18.870 402.619 19.152 1.222 18.462 20.046 18.747 19.391 18.044.896.240 -238.566.055.381 6.000 6.708.006.156.786 14.861.328 2.157 229.266 20.687.978.387.246.450.361 172.387.648 14.898.581 -618.233 19.291.476 14.088.303 14.222 -25. 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 1.917.450.000 6.747.450.660 18.993 14.258.080 19.573 4.433 -311.450.080 -238.729 -442.707.121 -1.441 14.P a g e | 153 Table 5-15 Balance Sheet.803 2.

500.923.174.957.513 479.391.834 1.793 5.157.989.104 19.523 2.333.324.458 1.414 17.599 1.815 19.378 941.000 5.485.610.735.582 18.775.628 1.096 13.672.065 18.624 3.791 2.705.000 5.741.438.833.230 4.103 3.552 6.834 17.151 18.223.333.894 3.994 17.423 17.890 13.927 2.882.014 20.306 1.567.000 5.450.355 0 16.636.693 1.049.792 3.289.034 1.027 18.124.516 3.499 1.586 658.601 6.632.452.097.994.000 5.830.261.913.062 13.450.035.364 16.698.234 13.826.379 19.744.372 13.450.011.012 5.183 1.239.717 13.500.951 1.082.354.355 479.256 16.973 17.863.764.370 1.450.579 13.000 5.896.902.399.445.379 1.924 13.450.513.739 6.815.124.767 1.005 847.251 17.112 17.139 18.599.450.665.557.458 3.734.055 376.265.114.599 3.460.757 1.311 188.938.057 2.239.885.505.913.695 17.870.023 3.364.695.815 1.768 16.122 19.412 17.057.131.034 19.278 18.435 1.886 1.425.660.360 3.826.450.932.927 1.418.182.779.141.453 2.809 2.390 17.635.337 18.000 5.822 1.906 19.196 5.557.391.929.391.725.897 4.155 1.610.200 13.027 .560 16.578 564.847 16.687 6.988 20.258 19.556 18.379.852.735 753.038 1.586 6.530 17.731.000 5.335 789.205.268.882.735.619.695.000 5.474 18.963.171.934 6.672 2.217.057.450.791 19. 2015 Thai-North Rubber Industry Company Balance Sheet December 31.948 6.809 3.672 18.405.577 282.319.727 3.793 5.968 1.797.354 2.366 19.620.407.589 17.832.513 18.494 6.046.262.718 6.852.526.465.968 2.065 1.186.704 1.304.647.418.564 1.988 2.314 3.510.230 19.546 1.516 1.775.963.335 18.744.690 18.155 2.450.876 6.806.217.354.636.275 94.590 6.141.314 2.380.355.513.183 3.418.624 789.767 18.379.450.793 6.000 5.023 1.798 19.450.083 3.104 1.450.344.205. 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 1.241 1.752 13.391.417 18.437.437.545 13.000 5.611 17.261.962.196 5.894.505.793 6.000 5.065.454.896 6.384.549 6.728 470.000 5.566.552.407 13.932.546 19.494 5.P a g e | 154 Table 5-16 Balance Sheet.897 5.734.

346.358 4.730 96.314 201.188.580 118.704 248.971 3.819 165.456 244.951 3.026 6.693.816 247.630 184.792 250.727 4.071 323.092 57.729 5.225.592.700.254 598.137 57.664 57.910 239.094 - 67.958 7.456 209.692 4.4 Cash Flow Statements Table 5-17 Cash Flow Statement.835 244.664 57.969 57.792 169.887 5.212 383.305 57.875.465 57.752 231.360 237.427.664 90.301.158.602 247.484 231.270 19.792 2.913 410.995 173.792 266.985 6.527 57.800.719 158.633 .424 6.076 324.438.942.792 345.913 248.161 242.603 57.794.940 331.956 3.222 242. 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 897.995 240.429 107.407 5.816 337.791 1.268 4.717 80.647 5.429 237.389.859 4.401 - 585.465 57.278 246.644 126.969 5.792 42.792 34.548 324.334.275 57.1.852 - 250.707 246.P a g e | 155 5. 2011 Thai-North Rubber Industry Company Cash Flow Statement December 31.587 75.887 Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec 598.274 4.030.995.591 4.068.000 1.564 4.035 240.233.437 245.587 245.707 249.404 4.612.630 238.254 8.182 4.792 659.584.337 - 733.360 238.925 5.969 57.792 74.972 243.092 118.253.000 250.059.636.314 243.161 24.085 250.792 135.819 239.152.792 54.458 270.

261.411.265 2.756 233.792 42.831 3.247 May .567.791 149.809 .424.052 222.792 242.233 Oct 269.717 6.769.434.892 57.792 .P a g e | 156 Table 5-18 Cash Flow Statement.457 3.155.892 57.263.383 227.898 Dec .666. 2012 Thai-North Rubber Industry Company Cash Flow Statement December 31.148 - 6.892 57.611 - 82.683 228.942 224.935 4.491 229.070 128.126 3.591.220 Sep 276.907 Feb 267.331 2.704 .320 .792 308.612 232.070 226.189 - 77.378.245 231.383 .970 229.683 263.792 .245 272.950.892 57.792 83.595 228.405 223.197.346.226 - 6.217 236.182 3.200 223.581 3.073.936 2.495.786.527 6.892 57.982 3.896.892 57.124.807 Jul .506 540.937 3.744 224.892 57.864.737.071 3.756 475.717 6.317 222.505.432.804 234.792 241.104.201 2.134 226.653 3.523 2.221 6. 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 194.130 .221 6.892 57.486 2.744 119.336 - 424.588 231.405 139.794 2.677.748 227.424.496 3.424.052 .281 Jun .255.585 .217 385.992 234.383.254 236.470 Aug .427.416 57.234.970 272.717 6.892 57.631 3.147 - 424.549 - 96.619.009 Nov 278.440.792 41.717 4.506 232.024.434.308 233.781 3.547 Apr 257.792 97.892 57.511 Mar 268.717 6.307 3.814 3.911 3.854.992 476.917 3.810 - 424.792 35.717 6.279 - 77.036.

487.189 44.104 Sep 373.306 219.619 53.128.467.329.934 2.930.414.725 204.619 53.869.786.652.432 53.044 2.974 467.619 53.913 .165.293.249 213.108 138.370 2.108 22.076.889 Apr 354.912 217.725 388.897 24.556 1.836 53.789 2.596 2.252 209.094 2.412 .307 295.789.517 212.197 343.686 504.407.732 .619 53.083 351.306 575.473 3.732 210.840 3.479 - 84.673 24.118.019 Aug .984 215.317 220.177.152.247 May .155 Jun .108 7. 2013 Thai-North Rubber Industry Company Cash Flow Statement December 31.619 53.108 15.510.313.467.611 209.256 2.479 2.761 2.505 3.249 206.771.619 53.189 24.934 210.912 575.189 24.505 648.695 Mar 364.761 467.274 207.647 352.493 Nov 376.597 2.197 212.652.943 24.686 220.708 2.800.293.954.549 Oct 366.108 357.167 219.274 217.108 .108 183.189 24.844 2.943 24.645 2.793.189 24.519 Jul .339 2.150 213.505 216.129.936 Feb 363.168.108 356.969 .145.108 431.758 207.264 204.107 283.182 216.041 1.377 .P a g e | 157 Table 5-19 Cash Flow Statement.189 24.408.158.758 184.619 53.943 24.108 130.083 215.397 467.785 2.386 206.585 2.647 213.489 2.108 136.467.619 53.252 193.619 53.719 - 84.435.306 3.552 Dec .406. 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 290.619 53.223 - 84.405 1.

462 53.108 106.474 764.189.108 65.959 - 93.854 2.552 .162 513.108 .107 408.152.619 193.518 195.316 Jun .813 Aug .917 186.864.302 190.108 242.894 - 93.284 2.956 2.908 87.490 1.304 2.275 - Dec 62.462 53.324 1.200 185.620.397 3.630 201.632 186.524 1.156.462 53.108 72.462 53.060 683.151 2.969 78.794. 2014 Thai-North Rubber Industry Company Cash Flow Statement December 31.034 2.462 53.006 188.630 683.618 254.185 612.474 198.462 53.908 57.505.618 188.619 430.254 439.108 483.060 200.P a g e | 158 Table 5-20 Cash Flow Statement.174 2.462 53.131 2.634 201.357.462 53.234 2.261.872 196.955 2.686 .438 57.722.969 191.438 57.108 680.665 57.641.308 - 93.450 2.144 1.234 689.462 53.513.380.828 Feb 464.000.462 53.484 3.200 865.264 57.917 293.108 481.908 57.681 - 191.762 Mar 466.515.830.438 57.075 193.829 190.713 Sep 475.302 262.132 Apr 455.185 203.674 .920.803 2.254 195.890 Oct 469.108 566.106 185.543 53.108 236.143 .162 196.252.387.081.480 200.061. 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 391.004 2.561.872 439.980 513.152 2.712 2.668 May .238 513.108 243.328 2.343 203.908 57.513.382.926.155.841 3.908 57.513.498 Jul .270.127 198.715.380.543 2.450.514.759 53.908 57.024 Nov 479.

103 4.37 .065.792 3.533.931 359.527 174.046.954 351.299 94.881 Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec 102.107 549.713 804.470 3.436 3.134 165.299 94.381 168.000 12.039 351.453 3.686 172.420 565.050 167.826 170.729 590.050 332.866 579.777 165.849 1.198 163.576 176.677.947 341.465 732.735 577.901 94.943 803.139 53. 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 504.943 174.129.581.351 534.299 94.947 168.351 176.139 53.200 3.199 102.512.727 2.514.1.943 179.516.669 53.223.139 53.523 3.979.855 1.134 382.482 565.436 569.713 181.108 358.983 163.139 53.592 565.139 53.5 Loan Loan Principal Amount Annual Interest Rate Year Now MlR =7.354 3.615 565.139 53.490.235.779 594.108 217.P a g e | 159 Table 5-21 Cash Flow Statement.373 1.108 360.299 94.108 1.108 172.139 53.131 3.156 894.656 3.331 102.139 53.869.198 1.758.245 52.299 135.75 % Loan Period in Years Monthly Payments 25.038 3.727 565.193 170.507 94.925.399.108 622.567.704 3.894 3.139 53.000.031 3.527 535.108 353.782 94.380 565.657 183.00% 10 358.174.139 53.782 94.735 3.571 2.782 94.037 1.108 165.398.795 53.510.958 5.143 172.057 3.664 181.246.114.108 623.826 33.686 526.405.465 183.404 2.424.156 178.044 179.620.715 3.108 716.108 204.131.173 353.360 2.327 167.432 583.844 178. 2015 Thai-North Rubber Industry Company Cash Flow Statement December 31.299 94.157.

952 6.761.937.117 5.887 2.516. 2014 Cash Accounts Receivable Total Sale JAN 4. 2012 Cash Accounts Receivable Total Sale JAN 3.523.229 6.482.688 MAR 3.106 5.510.510.661.537.349.791 755.P a g e | 160 5.528 SEP 3.510.939 3.082.844 JUL 1.546.117 5.198 8.688 OCT 3.053 2.461.349.976 3.106 5.974. 2011 Cash Accounts Receivable Total Sale Beginning 8.839 OCT 4.952 6.033.827.057 FEB 3.229 6.053 2.523.229 6.336 2.875.762 MAY 2.523.263.887 2.009.263.559 2.791 755.940 1.919 SEP 4.333.336 2.767 913.516.887 2.198 JAN 2.537.336 2. 2013 Cash Accounts Receivable Total Sale JAN 3.534 1.461.537.762 DEC 4.033.582 1.582 1.537.661.090.053 2.117 5.582 1.688 Sale.263.887 2.523 1.952 6.768.919 JUL 2.090.033.940 1.462 FEB 2.229 6.689.940 1.381 AUG 2.482.559 2.534 1.875.887 2.827.004.045.689.761.762 OCT 4.688 FEB 3.974.009.827.546.699.762 MAR 4.887 2.123.304.791 755.523 1.839 APR 4.952 6.534 1.503 4.537.699.844 JUN 1.523.688 NOV 3.263.045.004.976 3.839 NOV 4.263.344.516.106 5.082.131.875.117 5.839 MAR 4.381 JUL 2.844 SEP 3.537.839 DEC 4.344.090.824 4.183 4.004.117 5.940 1.063.116 892.063.276 APR 3.827.689.033.582 1.970 830.940 1.699.559 2.009.678 Table 5-22 Total Sale of 5 years NOV 3.381 SEP 4.510.372.090.767 913.106 5.053 2.523.937.827.887 2.940 1.824 4.510.344.875.614 3.688 DEC 3.009.347.256 1.116 892.033.057 OCT 3.952 6.534 1.116 892.974.768.976 3.057 MAR 3.940 1.576.661.263.767 913.582 1.839 FEB 4.381 JUN 2.582 1.057 MAY 1.256 1.080 DEC 3.057 Sale.452 AUG 2.762 NOV 4.939 3.043.534 1.175 1.689.304.827.263.349.131.523.523.123.761.768.452 SEP 3.528 JUL 1.762 APR 4.559 2. 2015 Cash Accounts Receivable Total Sale JAN 4.944 1.614 3.510.827.093 1.875.919 AUG 2.887 2.970 830.952 6.033.106 5.762 Sale.082.229 6.131.503 4.203.117 5.844 AUG 1.576.045.090.534 1.117 5.661.791 755.839 MAY 2.344.009.689.761.6 Total Sale Sale.057 DEC 3.974.510.229 6.875.033.336 2.952 6.767 913.827.276 MAY 2.106 5.043.372.970 830.699.875.229 6.944 1.090.661.528 JUN 1.699.004.689.699.090.762 FEB 4.699.688 MAY 1.338.944 1.263.1.338.528 AUG 1.093 1.349.952 6.768.203.582 1.970 830.347.839 .614 3.175 1.661.082.937.976 3.661.009.661.116 892.106 5.582 1.009.009.534 1.090.080 Sale.057 APR 3.944 1.045.537.689.117 5.534 1.688 APR 3.033.699.940 1.452 JUN 2.229 6.183 4.106 5.919 JUN 2.689.516.523.510.875.057 NOV 3.131.333.614 3.462 MAR 3.537.452 JUL 2.937.678 OCT 3.

1 Investment Criteria 5. 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.asp)  5.2.2. NPV = 128.P a g e | 161 .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.275.com/study-guide/cfa-exam/level-1/corporatefinance/cfa13. while money available today can be invested and grow.1 NPV Net Present Value (NPV) is a way of comparing the value of money now with the value of money in the future.3.797 NPV > 0 This project we can accept.investopedia. because inflation erodes the buying power of the future money. IRR = 2 2 > 0.2 IRR Internal rate of return (IRR) is a rate of return on an investment.2 NPV (net present value) 5.  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. A dollar today is worth more than a dollar in the future.

investopedia. whereas the NPV clearly points out the negative aspects of the borrowing strategy (Source: http://www.sa/FINEC/mfaraj/fin301/notes/Ch7. Lending or borrowing. It is also a seriously flawed method of evaluating investments.kfupm.2.asp)  5. The IRR does not distinguish between a lending (investing) or a borrowing (borrow and invest) situation.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.pdf) .3 Payback period The payback period is both conceptually simple and easy to calculate. PB = 0.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 (+.edu.-) in period cash flows produces as many IRR’s as there are changes in the cash flow directions of the investment.com/study-guide/cfa-exam/level-1/corporatefinance/cfa13.

00 138.00 75 80 67.38 .19 1.29 1.00 58.00 62.12 1.4 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 142.00 63.00 1.2.P a g e | 163 5.

P a g e | 164 Chapter 6 Risk Management .

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

3 Changing operating environment. 6.It would risk performing their duties. And get maximum satisfaction to the company. Each the positions are different mutual benefit. The last can make a job well. 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 . and has been helping. social and political environment that may lead to failure as well.1. Good the Weather and pollution. use of equipment to secure the places. which have to changing on always time. the company has been certified safe.P a g e | 166 company's welfare when they get these things. . a training seminar.1. Therefore the executives should be interested in some details of the employees is important.1. society and politics. Conditions of operation of the company to success or failure depend on the environment on economy. including medical employees. That will lead to failure at any time in the practice these jobs.2 The limits of the employee All employees in the company would have limited the ability in the internal environment. and the employees themselves. 6.4 Health and Safety The company operates for confidence to good health. Risk management organization that will certainly have to face another variation is to change the economic. Therefore. He will be expressed in terms of working in a better way. Along with maintaining equipment and care the equipment and related safety equipment for such as all of employees will receive health care. Build the confidence to the employee and customers. 6.

2.P a g e | 167 6.2. with exports accounting for more than two thirds of gross domestic product (GDP).2. and generally pro-investment policies.2 Economic Factor 6.th/businessnews. The economy of Thailand is an emerging economy which is heavily export-dependent. a free-enterprise economy. (Source: http://www.10 percent in March of 1998.20 percent in the third quarter of 2010 over the previous quarter.2.php?id=409693) 6. From 1993 until 2010.2 External Analysis 6. Thailand's average quarterly GDP Growth was 0. 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). made Thailand one of East Asia's best .10 percent in September of 1993 and a record low of -5.97 percent reaching an historical high of 7. in the last 20 years. 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. Well-developed infrastructure.co. For example.arip.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.1 Economic growth THAILAND GDP GROWTH RATE The Gross Domestic Product (GDP) in Thailand contracted 0.

341.4 billion baht in 2Q2010.25% -0. Balance of trade and services at current market prices registered a surplus with the value of 158. 2010.P a g e | 168 performers.7 billion baht. After incorporated net factor income and net .0300 Figure 6-1 QGDP Grow Chart (Source: Gross Domestic Product: Q2/2010. overall economic growth has fallen sharply in 2008 and 2009 as global downturn and persistent political crisis stalled infrastructure mega-projects. historical data and news. Office of National Economic and Social Development Board) Gross domestic product at current market prices valued at 2.494. published August 23.80% 1. eroded investor and consumer confidence. rising at the rate of 6.20% 2.1 billion baht.20% 2909 31.3 billion baht of net factor income from the rest of the world. the gross national product (GNP) registered at the value of 2. However. After deducting 153.8% in real terms. 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.

GDP implicit price deflator in 2Q2010 increased by 3. As economic growth is measured as the annual percent change of National Income it has all the advantages and drawbacks of that level variable. Growth is usually calculated in real terms. Meanwhile. it should always be viewed merely as an indicator and not an absolute scale.e.8% in previous quarter.)The flaws of GDP may be important .8% compared to 4.GDP per capita does not provide any information relevant to the distribution of income in a country. Economists are well aware of these deficiencies in GDP. in order to net out the effect of inflation on the price of the goods and services produced. GDP per capita does not take into account positive externalities that may result from services such as education and health. It is conventionally measured as the percent rate of increase in real gross domestic product. 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). inflation-adjusted terms. the amount of growth may be overstated once we take pollution into account. or GDP. current accounts showed a surplus with the value of 42. "economic growth" or "economic growth theory" typically refers to growth of potential output. But people tend to attach a particular value to the annual percentage change. producer price index and consumer price index increased by 9.0 billion baht.0% and 3. i. 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. and economic growth is therefore often seen as indicating an increase in the average standard of living.3% and 3. such as the Gini Coefficient. In economics.3% compared to 12. thus. Economic growth is the increase in value of the goods and services produced by an economy. However. perhaps since it tells them what happens to their pay check. respectively. GDP per capita does not take into account negative externalities from pollution consequent to economic growth. Economists have developed mathematical tools to measure inequality.5% in previous quarter.P a g e | 169 current transfer from the rest of the world.e. 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. there are some problems in using growth in GDP per capita to measure general well being." which is caused by growth in aggregate demand or observed output. production at "full employment. i. Thus..

There is no other indicator in economics which is as universal or as widely accepted as the GDP. respectively) and that the majority of attention is products in the initial (Gross Domestic Product.P a g e | 170 when studying public policy. 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. Growth of the population labor market and unemployment rate.2.aspx?Symbol=THB) 6. and manage its products. (Source: http://www. and total revenue per household. where the exponent is determined by the PPP annual GDP growth rate. the first economy would have grown by 165%. Technology enables key processes that a company uses to develop. the differences in the annual growth from country A to country B will multiply up over the years. Understanding the role that technology plays in enabling core business operations establishes the framework for understanding where relevant technology risks lie. services.tradingeconomics.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. for the purposes of economic growth in the long run it tends to be a very good indicator. For example. . follow Economic growth is exponential. a growth rate of 5% seems similar to 3%. but over two decades. deliver. however. Thus.com/Economics/GDP-Growth. Growth of the industry is important currency exchange rates between countries. Policy changes and economic problems government policy to create economic stability (Including the policy to support export and import goods from foreign countries. income distribution. 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. and support operations.

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

P a g e | 172 Chapter 7 Conclusion .

Chiangkhong district. We found with many information can be support for market feasibility of this project like which the higher number of rubber export in Thailand. Thai-North Rubber Industry have strong in the financial status that also represent in the ratio analysis. We also provide with only Rubber Smoked Sheet and Block rubber product. The North of Thailand is possible for this project to make a higher profit in rubber industry. STR XL. mainly in higher class of rubber which are RSS1 (Extra light color). political risk. And the sale forecast feasibility of the potential market. Thai-North Rubber has a strong in the financial status that also represent in the ratio analysis. Our project business is a factory of rubber which has many types for sale. RSS2.000. are relate together. We focus our product directly to only one main target with China (Specialization Market). Thai-North Rubber Industry is register as the company limited according to the Department of Business Development. STR 5 and STR 5CV**. although we have the many risk which is the economical risk. We buy the land and need to build our building. respond the higher demand in Chinese market. there are 2 mainly zone which are administration zone and one for Manufacturing zone for production in all of 2 products. RSS1. Thai-North Rubber Industry can generate sale 0.. operating risk and etc. increasing in demand of rubber in China and growth rate of rubber plant in Chiangrai each year. We find out the source of funding from the investor 25. STR 5L.45% of 4% of North export in Thailand and increase 10% every year.P a g e | 173 Conclusion Thai-North Rubber Industry is the rubber processing project that operates in Chiangrai province.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 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. it can be acceptable because we also cope with this risk from using the risk management. .

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868.192.425 22.699 23.099.970 113.449.624.919 152.306 217.527.205.677 358.853 23.006.068.173 143.700 21.000 248.758 206.445.553.677 358.897.991 7.517 117.000 498.677 358.768 3.677 358.314 242.363 116.933 135.397.677 358.224.533 3.862.162.899 Payment Principal Interest 358.474.756 6.208.073.677 358.245 229.491.415 24.189 20.726 24.742.364 668.331 3.979.697 24.685 124.539 2.677 358.677 358.543 4.090 114.761 1.677 358.044 3.395 5.580 5.757 4.239.083 213.221 115.891.137.816 246.239 23.791.995 239.587 244.612.765 142.677 358.349.811 4.030 146.037 3.647 212.818 20.677 358.506 231.002.607 133.764 110.659.863.677 218.635.729 993.967 2.981.794.324.650 5.688.925.094.775.819.249 2 3 .972 2.344 6.994 131.252 207.272 136.028 22.425 150.529 250.525.799 5.603 21.677 358.912 216.026.479 1.172 7.299 4.994 23.505 215.303 441.780.945 149.677 358.585 783.630 237.368 1.794 1.992 233.006 1.919 7.535 23.625 137.551.429 236.948 900.707 245.706 3.492 22.558.677 358.500.926.052 24.187 7.300 3.378.465 1.250.677 358.334.766.375.124.630.768 2.650.405 3.607.677 358.053 1.819 238.862 111.677 358.913 247.052 220.970 228.340.070 224.433 128.554 23.632 23.257.677 358.677 358.217 234.676.499.327 22.991 139.101 4.677 358.679 2.436 1.686 219.331.Appendix Table Loan Repayment Cumulative Cumulative Principal Interest 108.575 2.219.781.624.677 358.670.456 243.392.682 118.947 23.243 20.454.756 232.677 358.383 226.179 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 25.677 358.069.636 24.844 6.913 746.732 209.738.508 2.780.232 21.171 127.131.931.683 227.274 554.677 358.669 21.364.216.780 2.483.000.220 22.428 250.508.323 24.594 145.161 240.677 358.023 1.294 132.460 123.621.197 4.997.371 140.677 358.402.930.147 1.558 24.852 5.248 122.792 3.677 358.677 109.513 4.827 3.677 358.461 22.018.677 108.673 2.930 8.261.922 126.197 210.294 21.538 6.744 223.261 6.398 2.677 358.074.481 147.677 358.726.182 4.231.954 2.595 21.000 24.677 358.749.047 121.116.033 22.442 329.467 21.321 22.925.677 358.677 358.446 1.677 358.301 1.875.375.968.405 222.209.707 129.949 2.397 3.859 120.

Year 4 Month 36 37 38 39 40 41 42 43 44 45 46 47 48 Balance 20.856 Cumulative Cumulative Principal Interest 4.166 8.728 17.429 14.677 358.748.677 358.355 15.882.717 12.361 19.525.677 358.414 8.513.375 14.354 14.261 10.979 19.677 358.462.278 11.294.965 10.492 157.471 20.645 9.005.563.620.377.073 11.677 358.352 19.870 19.149.422 7.431.735 16.627 193.108.060 198.677 358.156 176.060 171.351 174.799 12.254 193.261 153.543 13.734 180.204 161.002 144.488.424 165.322.472.806.159 14.055 17.677 358.273 13.474.311 17.677 358.995 8.635.695 15.090 220.185 201.172 149.588 138.265 8.467 10.785 18.562 Payment Principal Interest 358.677 358.581.677 358.931 12.705.727.510 13.976.665 12.638.979 131.397.803.847.997 12.772 12.478 175.861.305 9.826.023.994.677 358.252 9.069 12.474 196.507 233.434.361.677 358.793 215.885 142.275 155.928 19.677 358.196.894.731.473.268.488 18.089 8.577 17.629 11.309 10.514.980.173.677 358.376 170.103.872 195.602.811.677 358.681.072 5.730 191.282.677 358.691 14.319.677 358.274 6.377 9.482 4.941.269 157.615 12.111 15.271 222.809.161 18.677 358.407 136.204 133.677 358.677 358.275 17.698 226.308.026 20.090.687.190.677 358.974 4.479 197.522 182.079 9.677 358.691.677.463 127.150 185.517 10.842 11.166.312.997 9.677 358.124 9.438 12.329 11.668 12.969.618 186.034 6.176 14.680.648 5.058.527 172.966 18.921 15.917 185.677 358.677 358.306.228.760 13.943 178.739 14.244 14.122 11.215 6.677 358.159.671 13.046 13.586 16.715.732 129.746.473 224.486.946.725 203.030.619.826 168.452.171 124.677 358.215 231.423 7.927 13.575 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 .274.677 358.760 173.719 8.725 7.653.965 178.600 11.152.677 358.505 209.483 14.408 201.578 17.622 8.244 159.731.272.184.815.105.518 20.835.545 14.677 358.230.058 166.082.267 10.227 151.700.945 7.720 15.547.434 199.635.179 11.686 170.053.519.073.637.240 11.822 204.050 165.446 13.450 207.630 200.212 176.852 189.481.002 10.480.840.676 213.917.005 16.047 158.163.260 8.580 211.802 10.903 8.346.785 13.928.021 5.969 190.034.379.086 14.426.228 12.930 218.677 358.241 12.677 358.992 187.156 11.677 358.316.834 16.200 183.619 191.843 5.513 15.130 5.302 188.198 161.689 7.286.364.582.171.231.994.117.644.875.402 203.726 18.002.378 16.677 358.465 181.122.318.416 205.157 19.836.847.639 5.779 9.677 153.841 10.713 179.806 163.511.677 358.097 147.400 13.327 184.677 358.839 6.677 358.445.677 358.526.828.138.272 7.909.299.134 163.677 358.885 10.747 140.677 358.487 9.725.512 6.764 14.945 229.677 358.278.549 15.953 155.889 9.709 168.005.965.717.171 14.878.947 167.124.756 10.926.618 160.677 358.283 12.485.544 195.

340.525.823.415 17.032 20.292.463.404.171 16.100.269 17.677 358.236.471 107.267 18.905 87.111 268.644.205 17.916.865 706.052.126 Payment Principal Interest 358.294 23.176.244.380.641 8.581.152 11.078.950 100.774.117 18.721.921.026.927 17.370 70.450.787 17.685 282.294.960 17.689 253.124 7.135 24.688 5.707.677 358.164 13.039.019 15.118.020.040 7.577 17.953 331.736 355.731 46.517 67.745 17.393 97.316 245.733 6.677 358.087 10.997 10.337.677 358.351.269 9.704.677 358.677 358.780 16.242 16.397.178.677 358.625 17.860 302.278.814.935 17.201.797 16.677 358.482 102.677 358.312 19.030.868 263.619.466.943.472.677 358.445 24.156 117.677 358.916 279.749 22.015.344.677 358.201 16.630.484 2.851.126 122.589.471.366 21.758 8.927.677 358.677 358.874 25.677 358.451.251 16.960.891.705.009.186 33.866 20.081 4.664.042 293.573 6.677 358.881.876 17.731 15.259.362 112.907 243.403 16.771 115.890 341.677 358.677 358.264 24.677 358.566 89.015 15.730.122 18.479.222.641 43.913 14.548.531 6.600.706 1.990.522 240.769 16.798.134 4.119 14.666 18.662.093 15.067 3.563 22.989 105.952 296.059 11.143 3.634 3.602.777.408 13.945.076 16.460 274.984.718.885.476 266.536.579 5.677 236.054.677 358.202.160 291.173 19.827 5.437 2.467 17.604 16.683.995 10.817 55.857 21.208 7.520.744.098 4.677 358.807.251 2.369 37.469 18.883 15.919 20.036 315.881 10.530 8.192 10.551 Cumulative Cumulative Principal Interest 12.041.453 23.794 17.749 248.293.633 17.072.677 358.547 1.201 92.947 312.724 27.927.772 271.335.003 14.516 22.973.808 14.743.677 358.610 355.740 12.418.928 110.948.482 285.677 358.677 358.702 16.308 321.269 344.902 20.733 18.817.058 21.952.399.545 337.994 17.985 9.352.558 17.677 358.780.677 358.810 95.677 358.790 49.249 15.420 13.Year Month 79 80 81 82 83 84 Balance 12.285 260.195 255.714 18.682 348.549 7.051.517 120.521 40.000 15.677 358.677 358.963.740.278.677 358.285 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 .349 17.677 358.294 16.478 17.233 334.816 1.527.141.522 7.677 358.184 23.677 358.677 358.256.597 17.848 13.973.899.706 327.272.129 351.968 4.967.309 15.636 64.359 16.442.098 17.725 61.470 16.580 11.634.836 11.537.780 17.720.586.647.763.677 358.892 299.761 78.218 84.821.156 318.037.128.941 13.298 8.971 30.677 358.992 76.195 73.593 16.818 52.006.581.174 276.116 17.503 81.677 358.988.035.036.255.792 17.653 17.677 358.677 358.281.307 288.859 305.549.942 3.047.427 18.206 250.786 58.000.491 324.721.160 238.381 15.550 17.219.421 19.413.251.888 308.133 20.727 258.117 9.677 358.

7791 7.4000 7.6250 6.0000 7.0000 28.0000 7.7500 8.0000 20.3750 11.0000 28.7300 7.3750 7.1638 6.0000 28.0000 20.0000 28.0000 19.0000 28.0500 22.0000 28.0000 20.0000 20.6300 6.0000 21.9800 6.0000 28.7500 8.5015 15.9000 6.4800 7.0000 8.0000 6.0000 21.0000 21.9000 7.0000 35.0000 28.0000 24.0000 7.5000 7.3750 7.2500 8.6250 6.5000 8.5000 7.5000 6.0000 15.2500 6.1250 7.0000 35.0000 6.1500 7.0000 15.0000 18.0000 12.0000 7.0000 18.3700 6.0000 6.0000 21.1000 7.3750 MOR MLR MRR Ceiling Default Credit Card .5000 6.3750 7.9950 7.2500 6.1500 7.5838 11.0500 19.3750 6.3750 6.5000 14.0000 25.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.3750 6.0000 15.0000 8.6250 6.5000 6.0000 28.0000 20.6200 6.0000 7.0000 28.5000 7.0500 7. 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 6.1000 22.8750 7.0000 24.8750 28.0000 7.0000 18.7500 6.0000 28.0000 28.0000 22.0000 20.0000 28.2971 20.5000 7.

2500 8.0000 7. MLR=Minimum loan rate.5000 7.0000 9.5000 13.2500 6.0000 19.8750 8.0160 25.6300 15. National Association Indian Overseas Bank The Royal Bank of Scotland N.0000 13.7500 8.0000 13.0000 20. JP Morgan Chase Bank Credit Agricole Corporate and Investment Bank Bank of America.5804 6.2500 9.5000 8.0000 8.20.0000 7.0000 8.2500 22.0000 Information as of 12.5417 11.5000 6.2500 10.0000 7.0000 . MRR=Minimum retail rate (Source: http://www.00 p." means no service for this type of transaction.0000 15.7500 10.5000 8.5000 7.2500 7.2500 8.V.0000 20. RHB Bank Berhad Oversea Chinese Banking Corporation The Bank of China Mizuho Corporate Bank.2500 7.7500 50.m.0000 20.9900 14.5000 8.7500 7.8087 20.0000 14.aspx#) .0000 45.0000 20.0000 19.Bank Foreign Bank Branches The Bank of Tokyo-Mitsubishi UFJ Citibank Sumitomo Mitsui Banking Corporation HSBC Deutsche Bank AG.8750 8.0000 14. Ltd.3750 8.or.0000 8.0000 7.th/english/statistics/financialmarkets/interestrate/_layouts/application/interest_rate/IN_Rate.0000 50.7500 8.7500 8.0000 32.0000 25. 2005 Exclude Interest rates of Personal Loan under Supervision " .0000 13.0000 8.7639 25.5000 9. * Since July 1.2500 7. MOR =Minimum over draft rate.7500 8.0000 15.7500 21.0000 19.0000 7.0000 25.2500 22.2500 25.0000 20.2500 8.0000 23.7500 6.2500 7.0000 11. BNP Paribas Average of Foreign Bank Branches MOR MLR MRR Ceiling Default Credit Card 10.0000 8.0000 14.7500 9.bot.

622 358.213 772.190 501.982.306.636.887 Jun 1.465 9.786 752.339 2.677 82.199 261.372 358.372 358. 2011 Description Cash AR Total cash receive Cost Sale Administration expense Pre opening Supplies Expense Loan Total cash paid Total cash Beginning 8.396.419.411.591 Oct 1.756.856 1.213 6.303.677 2.677 2.327.740 733.958 Jan 1.698.274 Nov 1.104 3.969 Apr 1.800.222 324.234.171.000 261.896.452.427.831 772.132.171.378.742.622 358.650 13.787.306.859 2.307 Source of Cash.831 772.939 6.512.015 849.334.000 270.425 200 319.649.425 200 261.498 4.385 1.261.230 2.677 2.518.677 2.200 261.200 261.622 358.708.622 358.992 1.015 849.445 5.040 261.717 5.289 3.982.189 2.407.331 752.875.255.969.995.700.000 270.015 849.729 May 1.724 3.274 3.591.523 2.000 270.975 1.000 261.256 1.234.432.875.498 4.248 4.199 1.171.307 2.943.622 358.939 6.997 2.756.213 6.007 424.677 Apr 1.982.309.740 733.062.190 501.956 3.396.015.021.015 849.354 2.171.000 261.253.026 Feb 1.666.175 1.636.432.495.306.265 2.622 358.982.435 5.435 4.781 2.419 598.677 Nov 1.196.388 3.545.068.834.492 4.016.197.677 2.372 358.083 1.982.924 2.225.028.016.126 2.982.425 4.465 8.030.377 1.098.435 5.908 772.007 424.000 261.795 1.760 358.603 7.908 6.015 849.982.556. 2012 Description Cash Account Receivable Total cash receive Cost Sale Administration expense Pre opening Loan Supply Expense Tax Total cash paid Total cash 3.826.924 3.636.631 2.016.505.072.935.213 Otc.053.677 Dec 1.700.425 4.353 1.190 501.911 1.665 1.847.821.589 4.545.622 358.5.425 200 261.165.622 358.339 3.432.704 3.396 261.306.052.939 6.222 261.926.794.007 424.677 Jun 991.814 1.372 358.016.435 6.396.11 Nov-11 Dec-11 Jan 1.677 May 991.695 5.930.801.622 358.677 13.071 1.042 3.500 261.474 2.040 4.539 3.677 2.982.589 1.622 358.622 358.435 6.636.956 Dec 1.677 Sep 1.346.603 7.396 3.088 3.478.677.179.695 2.717 5.942.372 358.761 .677 2.327.457 2.432.622 358.926.677 2.351 6.711.925 Mar 1.939 6.677 Oct 1.787.645.346.717 4.372 358.622 358.677 2.924 2.908 6.042 701.992 1.622 358.801.717 5.425 261.622 358.016.435 5.040 200 261.677 Aug 991.446 1.677 2.019 1.821.727 Aug 1.521 6.425 200 261.425 270.199 4.182 Jul 1.677 Mar 1.255 2.419 598.760 Feb 1.743.044 1.443.622 358.190 501.000 270.015 849.384 2.432.856.042 358.711.930.435 6.677 2.315 1.636.917 1.498 4.435 5.935 2.1.015 849.056.360 1.358 Sep 1.016.7 Source of Cash Source of Cash.645.007 424.680 1.677 3.677 Jul 991.015 849.040 200 270.786 752.474 3.016.199 1.

708 2.812.370 2.238 1.244 261.180.031 1.732.216 934.357.840 1.505.816 5.597 2.432 3.398.001 Nov 2.378 4.108 467.119 513.651.238 1.419 1.579 2.372 358.387.387.427.816 4.811.622 358.199.475 1.793.677 2.146.824.238 1.293 1.398.959 Jul 1.216 934.824.180.760 358.244 200 261.197.803 3.677 Apr 2.090.722.070 2.490 Source of Cash.007.817.435 Nov-12 Dec-12 Jan 2.519 2.031.146.004 2.163.378 5.622 0 358.883.868.331 1.677 Oct 2.378 934.019 2.470 3500 261.079 0 261.435 849.079 200 261.743 2.955 3.398.398.248 Apr 2.622 0 0 358.090.500 270.410.743 1.450 3.410.128.244 3.470 200 261.398.677 Feb 2.238 1.339 Oct 2.244 200 261.412 Feb 2.397 2.119 513.526.596 2.372 0 358.841 2.625.677 295.238 1.487.677 2.543 2.306 1.677 2.173.956 3.677 2.216 934.007.838.622 0 358.677 Nov 2.622 0 358.027.216 934.622 0 358.965 Total cash receive Cost Sale Administration expense Pre opening Supply Expense Lone Tax Total cash paid Total cash 2.238 1.378 Nov-13 Dec-13 Jan 2.328.510.800.323.677 2.372 0 358.969 2.954.470 0 270.101 2.419 2.816 5.743 2.505 2.155.329 2.372 0 358.602.378 934.523 2.216 934.641.373 .771.040.677 Sep 2.789.185 2.474 2.677 Mar 2.387.378 4.554 Sep 2.069.238 1.061.622 358.244 270.489 2.820 3.140 Mar 2.769 1.293.192.622 358.149 1.328 3.027.108 467.816 5.180.677 2.677 689543 4.192.189 4.622 0 0 358.114 Dec 2.027.020. 2013 Otc -12 Cash Account Receivable 849.119 513.526.786.435 849.620 2.820 261.079 3500 261.238 1.470 3500 270.572 2.677 Dec 2.192.927.930.387.908 4.677 2.812.152 3.244 200 319.812.378 5.484 2.387.192.622 358.298 2.677 2.788.079.379 2.108 467.793 Jun 1.326 Aug 1.470 200 261.398.585.969 2.027.677 2.106 2.090.387.189 4.189 4.561.240.526.034.031.027.934 2.269.180.199.793 2.507.027.969 2.949.216 934.007.410.410.820 200 261.320 2.120 2.180.776 1.622 358.119 513.192.016. 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 1252489.244 3.156.816 5.761 2.Source of Cash.192.879 2.090.131 934.677 Aug 1.042 13.027.106.622 0 358.677 May 1.816 5.908 4.908 4.581.677 Jun 1.622 358.007.398.504 2.760 358.903.180.180.256 1.027.717 3.192.246.108 467.216 934.908 4.252.199.378 5.677 2.470 0 261.378 4.500 261.473 1.149.293.470 200 319.960.526.099 May 1.677 Jul 1.816 4.820 200 270.332 1.372 358.677 2.794.776.189 4.244 200 261.622 0 358.378 4.155.261.622 358.042 0 13.199.076.387.079 200 270.941.812.180.500 261.923 2.216 934.812 1.398.622 358.378 4.816 5.821.830.470 200 261.372 358.

638.220.600.500 261.156.816 Nov-13 Dec-13 Jan 2.638.130.163 3.334.600.500 270.638.372 358.638.378.083 .061 1.229.129.893.598 6.622 358.622 358.598 5.291.130.620.864 200 261.600.686 Jul 1.567.174.057 2.894 3.598 6.151 Aug 1.046.299 5.212 3.130.223.212 200 261.989.212 200 261.131 1.212 3.273.677 2.038 2.130.399.042 13.114.677 1.816 1.027.600.652.510.065.864 3.453 3.027.319.677 2.652.652.451.319.600.251 Feb 2.031 565.282.061.600.130.061 1.598 6.714 Nov 2.792 2.061 1.622 358.238 Mar 2.360 3.061 1.212 200 319.638.212 200 261.031 565.622 358.372 358.061 1.677 3.299 5.064 Oct 2.669 4.130.622 358.677 1.638.677 2.638.677 1.299 5.816 1.061 1.814 Dec 2.130.354 3.622 358.760 358.761 3.421 Jun 1.061 1.727 3.677 1.Source of Cash.677 1.500 261.212 261.711 2.598 6.679 1.711 3.598 4.103 1.638.511 2.220.363 3.622 358.130.157.212 270.261 3.711 3.131.246.373 3.273.299 5. 2015 Otc 2013 Cash Account Receivable Total cash receive Cost Sale Administration Expense Pre opening Supply Expense Lone Tax Total cash paid Total cash 2.882.600.220.220.553 May 1.140.367 Sep 2.955 2.279.762 2.891 1.360.286.061 1.372 358.031 565.849.912.598 6.864 200 270.027.319.232.677 2.496.113 3.319.622 358.864 261.031 565.652.677 2.276.731.604 Apr 2.663 3.677 2.598 5.704 3.523 2.672.