Annual Report 2016 (TH)2 - PatKol · 2019-07-14 · 99 100 172 173 178 . 01 01 ~ y Õh o° h { ( q...

02

“

”

03

3

2559

- -

1 2 11 12 13 15 16 17 18 32 36 56 70 74 75 77 86 88 96 99 100 172 173 178

01 00000000000011111111111

( )

: 348 .9

10250

: + 66 (0) 2328 1035 : + 66 (0) 2328 1245

http://www.patkol.com

: 0107536000587

: 28 2508

:

: ( )

. . 2536 “PK”

: 600,243,737 : 494,095,237

: 414,607,781 : 79,487, 456

( ) : 1

: /

: + 66 (0) 2328 1035 1013 : + 66 (0) 2328 1245

: poonyavee.ch@patkol.com

02 0022

10%

1. (PKT): 79/1 14 .

. +66 (0) 2328 1035 :

: 30,000,000 99.99%

2. (SPK) : 348 . .9 .

. +66 (0) 2328 1035 :

: 2,500,000 39.99% PKT 60%

3. (SPN) : 89/64 2 .

. +66 (034) 885 090 :

: 10,000,000 80%

4. (PKM) : 129 3 . .

. +66 (032) 447 920 :

: 100,000,000 99.99%

5. (HA) : 567/14 . .

. +66 (0) 2000 6500 :

: 10,000,000 99.99%

6. (PK-PH) : Unit 12G IBM Plaza Building, E, Rodriguez Jr., Eastwood Quezon city 1110

Philippines

:

: 11,750,000 60%

7. (PK-ID) : Kompleks City Resort Rukan Miami Block C No. 17B, Jln Kamal Raya Outer

Rign Road, Cengkareng, Jakarata Barat 11730

: : 2,737,400,000 99.99%

: ( ) 93 . . . +66 (0) 2009 9000

: 138 6 1 . .

. +66 (0) 2634 2484

: 4 2/4 . . . +66 (0) 2252 1260

03

04

05

06

07

08

.............................................................................. ............................................................................

.............................................................................. ............................................................................

09

( )

( )

315624 1,280

116

673105

6645 0

448

2,823

890

010

:

3,615 3,386 3,203 2,109 1,962 2,101

1,506 1,424 1,102

3,713 3,551 4,079 112 154 288

72 321 227

84 112 230

58 53 44

( ) 1.61 1.70 1.70 ( ) 1.40 1.40 1.90

( ) 26 24 21 ( ) 2 3 6

( ) 6 9 25 ( ) 2 3 7

( ) 0.20 0.27 0.56 ( ) 3.61 3.44 2.65

31 2559 2558 2557

010

011

2 5 5 9

GDP 2559 3.2 ( 2558 2.9)

3,713 2558

3,551 162 4.6 84 2.3 2558

112 3.2

4.0 20

2559 95.38 100

2560

. .

012

2559 ( )

110 0.27

2558 2559

“Patkol Malaysia SDN. BHD.” 2560

52 “ ”

013

014

015

016

017

3

2557 2558 2559

2

( )

10 (

99)

(Evaporative Condenser)

( 99)

3 30

4/2558 11 2558

23.5 (

60)

5.5 ( 99)

2/2559 13 2559

018

1)

2)

3)

80 /

4)

5)

6) 2559 ISO 14001 BS OHSAS 18001 Tuv Nord

7)

8)

9) 7 , , , ( Contractor), ,

019

( ) 2508 2535

2534 - 2

30,000

28 2536

(“ ”)

1

020

1

4

o o o o

: -

-10 , ,

, , , -

: . -

: - , / , , ,

: . – . . – . .

Form – Fill - Seal Packing Machines

:

021

: ASME

(American Society of Mechanical Engineer)

, ,

(Good Manufacturing Practice

: GMP)

(Preventive Maintenance)

:

:

022

2

5

o o o o o

:

, , , ,

, ,

,

(Commercial Cold Room) , , ,

: (Ripple Plate Chiller)

0.5

(Individual Quick Freezer : IQF)

( Air Blast Freezer)

, ,

: (Evaporative Condenser)

2533

: (Hypermarket)

023

: 2.5-80

Good Manufacturing practice ( GMP )

:

(Evaporative Condenser)

: HFCs

024

:

, ,

: CLMV

AEC

,

025

3

4

o o o o

:

(Good Manufacturing Practice : GMP)

:

(Hygienic Design)

CIP (Cleaning In Place : )

:

026

:

Pressure Vessel, Storage Tank, Heat Exchanger (Shell and Tube), Stack

ASME (American Society of Mechanical Engineer)

:

Main Contractor

(Recondition or Modify)

: One-stop Service

U-STAMP ASME (American Society of Mechanical Engineer)

Automation

027

:

( )

:

028

4

4

o o o o

:

(Individual Quick Freezer : IQF) 3

(Cabinet Freezer) 100-300 ./ .

(Tunnel Freezer) 500-1,000 ./ .

(Spiral Freezer) 1,000-3,000 ./ .

: (Retort) 115 –147

(Cooker)

100

:

:

(Grader)

029

:

030

:

(Hygienic Design)

:

:

(Ready to Eat)

031

5

(Preventive Maintenance)

:

(Preventive Maintenance)

:

( (Preventive Maintenance))

(Recondition or Modify)

:

:

:

032

31 2559 600,243,737 494,095,237 414,607,781 79,487,456

1

100 1

12

( ) + 2 4

( )

10 10 2560 ( )

1. . 1 84,567,108 17.11

2. 2 49,841,303 10.09

3. ( ) 49,307,800 9.98

4. 3 48,575,975 9.83

5. 45,970,942 9.30

6. 27,285,080 5.52

033

7. 15,250,000 3.09

8. ( ) 11,400,000 2.31

9. 6,629,143 1.34

10. ( ) 6,103,738 1.24

11. 149,164,148 30.19

494,095,237 100.00

1 (1) . 10.342% (51,100,000 ) (2) 2.565% (12,674,151 ) (3) 3.849% (19,018,586 ) (4) 0.359% (1,774,371 ) 2 (1) 9.277% (45,841,303 ) (2) 0.809% (4,000,000 )

3 (1) 0.004% (20,000 ) (2) 9.758% (48,216,475 ) (3) 0.036% (180,000 ) (4) 0.019% (94,000 ) (5) 0.013% (65,500 )

034

(“PK-W”) 30 2554

( )

(“PK-W”)

21 2554

( )

106,148,500

10

1

1 2554

1 2564

1 1

0.01

106,148,500

“ 70 ”

035

3 2557-2559

2559** 2558* 2557*

( ) 84.22 112.13 229.55

( ) 0.20 0.27 0.56

( ) ( )

0.08

0.03375

-

-

-

-

( )

32.52%

-

-

: * 2557-2558

** 2559 2560 28 2560

036

4

(1)

(2) (3) (4)

5

31 2559 12

(1) 8

(2) 4

4 1 3

2559 4

1. . . ( ) 4 3

2. . 4 4

3. , ,

4 4

4.

( )

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037

“ . , , . , ,

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5.

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6. ( ) 4 4

7. , ,

4 4

8.

4 4

9. 4 4

10. 4 4

11. ,

4 4

12. ,

4 4

038

1)

2)

3)

4)

5)

6)

7)

8) 3

4

9)

10)

11)

( . . .) /

039

4

(1) (2) (3)

(4)

1)

/

2) 3

3)

4)

31 2559 4 13

1)

2)

( )

1. . 13/13

2. 13/13

3. 13/13

4. 13/13

040

3)

4)

5)

5.1) 100-300

5.2) 10-30

5.3) 50 180

5.4) - 10

-

5.5) / 10

6)

/

7)

1. 3

2.

3.

041

(1)

(2)

(3)

89/3 . . . ( 4) . . 2551

(4)

2

. . .

31 2559 3 5

042

-

1)

2) (Internal Control) (Internal Audit)

3)

4)

5)

6)

7)

8)

1

( )

1. 5/5

2. 4/5

3. 5/5

043

9)

10)

11)

12)

13)

(1)

(2)

(3)

. . . /

14)

1. 3

2.

3.

(1)

(2)

(3)

(4)

044

(5)

4. 1

5. 3

3

1) 3 1

2)

3)

31 2559 3 1

( )

1.

1/1

2.

1/1

3.

1/1

045

1. 2.

3. /

4.

5.

6.

1) 3

2)

3

3)

(1)

(2)

(3)

1.1 3

1

1.2

1.3

046

31 2559 4 4

( )

1. 4/4

2. 4/4

3. 4/4

4. 4/4

1) ( Integrated Risk Management)

(Strategic Risks)

(Market Risk)

(Financial Risks)

(Operational Risks)

2)

3)

4)

5)

6)

1) 3

2)

1.

047

1.

2. 3. 4.

5.

: . . .

( . . .)

048

/

049

11 2559

/

/

/

( ) ( ) ( ) ( )

050

2559

1.

/

- 78,750 10,000 - 34,650 10,000

2.

/

- 23,100 - - - - - - - - - - - - - - - - -

2559

( )

( )

( )

( )

.

.

.

.

.

1. . . 945,000 - 30,000 - - - - 975,000

2. . 415,800 - 40,000 - - - - 455,800

3. 415,800 - 40,000 - - - - 455,800

4. 415,800 277,200 30,000 - - - - 723,000

5. 415,800 277,200 30,000 - - - 723,000

051

( )

1 51,100,000 10.342

2 45,841,303 9.277

3 27,285,080 5.522

4 19,018,586 3.849

5 20,000 0.004

( )

( )

( )

( )

.

.

.

.

.

6. 415,800 277,200 40,000 - - - - 733,000

7. 415,800 277,200 40,000 - - - - 733,000

8. 415,800 - 40,000 - - - - 455,800

9. 415,800 - 40,000 - - - - 455,800

10. 415,800 - 40,000 - - - - 455,800

11. 415,800 - 40,000 - - - - 455,800

12. 415,800 - 40,000 - - - - 455,800

7,077,600

052

2559 53.09

31 2559 1,490 697,193,282.30

( )

/

1.

2.

Friendly Engineering 3.

Syner Team , (Program Alert Project)

053

4. Group Interview

5.

6.

7. Management Trainee

8. Talent Management

9.

10. Job Profile

11.

12.

13.

14.

054

/

/

( Insider Trading)

( )

1) (PK) 30

24 (Blackout Period)

2) 24

055

3)

59 . . 2533 3

4) ( E15 )

1) (audit fee) 2559

1. 3759 2. 5113 3. 7305 4. 4713

78,000

620,000 2559 1,400,000

2) (non-audit fee)

- -

056

( )

.-

1. 6

1.1) (Accountability) 1.2)

(Responsibility) 1.3) (Transparency) 1.4) (Fairness) 1.5) (Vision to Create Long Term Value) 1.6) (Ethics)

2. 5

2.1) (Rights of Shareholders)

2.2) (Equitable Treatment)

2.3) (Stakeholders)

057

2.4) (Transparency)

2.5) (Responsibilities)

3.

4.

5.

6.

7.

1

058

1.

: 4

: 1 (www.patkol.com)

:

90

poonyavee.ch@patkol.com 0-2328-1245

:

Download

(Custodian)

2.

2.1

2.2

2.3

2.4

059

2.5

2.6

2.7

3. 3.1

3.2

3.3

3.4

3.5 14

.-

1 1 100 1

2

060

1. 1.1

1

1.2

1.3

2. 2.1

90

poonyavee.ch@patkol.com 0-2328-1245

2.2

90 poonyavee.ch@patkol.com 0-2328-1245

2.3

2.4

3.

061

1) ( E15 )

7 . . 2535

2)

3)

1.

7

1.

2. 3.

3

062

4. ( Subcontractor) 5. 6.

7.

.- 1)

1)

2)

3)

4)

5)

5 .

2)

1)

2)

063

3)

1)

2)

3)

4) ( Subcontractor)

( Subcontractor) 1) 2)

- -

-

064

5)

1)

2)

6)

1)

/ 2) 3)

7)

1)

2)

3)

2.

/ / /

065

/ /

.- (1) 0-2328-1035 1013 (2) info@patkol.com

(3) (4) . 39 . . 10263

. . .

1.

2.

3.

website

4.

5. (Management

Discussion and Analysis MD&A)

6.

7.

4

066

8.

2.

www.patkol.com

1.

1)

2) 5 12 3) 1

4) 4 1 3

5) 3

6) 7)

3

8) 2 9)

5

067

2.

1) . . 2535

. . . 2)

3)

4)

5)

3.

. . 2535

1 3 3

1 3

4.

1. 4 . . 2535

068

2.

3.

1, 2 3

4. 7

5. . . 2535

6. 1-

2

5.

“ ” (CG

Self Assessment)

6.

“” “ ”

069

7.

1.

2.

3.

4.

070

Risk Assessment Matrix (Impact) (Likelihood)

31 2559

1.

:

,

2.

:

071

3.

:

4.

:

5.

072

:

Natural Hedge

()

6.

:

7.

073

:

8. (AEC)

(AEC) /

:

9.

:

074

2/2560 20 2560

5

1

2

3

4

7

5

075

( ) 2559 2558

(“Prudent”)

Workshop

Prudent 2 (

2559

2561)

4.2

5.1

2/2559

13 2559

Prudent

2

076

31

077

“ ”

1.

( Good Corporate

Governance)

“”

2.

078

, , , “ ” (Private

Sector Collective Action Coalition Against Corruption, “CAC”) 1/2559 29 2559

CAC

“ ” (Anti-Corruption Committee) 11 2559

“ ”

(Whistleblower)

3.

18

4.

079

-

-

-

-

- (OHSAS18001)

“ ”

5.

080

1. 2.

3.

4.

5.

6.

ISO 14001

12.00 – 13.00 . 5 .

7.

8.

081

1)

( )

“

” 6

2559 5 ( ) 3

2

082

6 427

A4 27 2560

2559

, 1, ,

20,000

2559 32

25 1,500 , . 7 1,800 50,100

2)

“ ”

4

1 17 2559 38,850 . . 2 17 2559 40,500 . . 3 17 2559 32,400 . . 4 16 2559 38,950 . .

083

15 “”

33 1,200 39,600 11 2559

13 2559

15,000

10 2559

26-27 2559

11 2559

084

3)

1 150,000 26 2559

2559 2559

1,230,100 29 2559

4)

“84 ”

84 12 2559

11 2559

26 2559

085

5)

( )

21 2559

086

( ) 2508

"

" 16 2555

BS OHSAS

18001 ISO 14001 Tuv Nord

1.

2.

3. 4.

5.

6.

7.

8.

9.

087

1. ,

/ , , / , , ,

, Toolbox Talks, House Keeping, ,

,

2. , , , ,

, , ,

,

o

o

o (Green Industry) o “ ”

088

2559 2558

/ 2559 2558

( ) % % %

3,713 100% 3,551 100% 162 4.6%

(2,763) -74.4% (2,701) -76.1% (62) 2.3%

( ) 950 25.6% 850 23.9% 100 11.7%

26 0.7% 33 0.9% (7) -22.0%

(290) -7.8% (259) -7.3% (31) 12.1%

(544) -14.7% (440) -12.4% (105) 23.8%

141 3.8% 185 5.2% (43) -23.4%

- (29) -0.8% (31) -0.9% 2 -5.9%

( ) 112 3.0% 154 4.3% (41) -26.9%

(30) -0.8% (44) -1.2% 15 -32.7%

83 2.2% 109 3.1% (27) -24.6%

(10) -0.3% 212 6.0% (222) -104.9%

72 1.9% 321 9.0% (249) -77.5%

84 2.3% 112 3.2% (28) -24.9%

(2) 0.0% (3) -0.1% 1 -38.4%

83 2.2% 109 3.1% (27) -24.6%

089

2559 3,713 2558 3,551 162

4.6% 2559

84 2.3% 2558 112 3.2% 2559 2558 105

23.8% 2559 2558 28

24.9%

( )

2559

- 1,595.6 739.0 488.3 0.0 2,822.9

- 740.4 149.6 0.0 0.0 889.9

2,336.0 888.5 488.3 0.0 3,712.8

(1,748.0) (690.5) (324.3) (0.0) (2,762.8)

588.0 198.0 164.0 (0.0) 949.9

% 25% 22% 34% 0% 26%

% 63% 24% 13% 0% 100%

2558

- 1,304.2 875.0 450.0 0.0 2,629.2

- 692.6 220.9 8.4 0.0 921.8

090

11. 2559

63%

24% 13%

17%

19%

(Back log) 2560

7% (Preventive Mantainance)

2. ,

, , 2559 7 22% 2558

9

3. 2559 26% 2558 24%

1,996.8 1,095.9 458.4 0.0 3,551.0

(1,480.9) (911.5) (308.4) (0.0) (2,700.9)

515.9 184.4 149.9 (0.0) 850.2

% 26% 17% 33% 0% 24%

% 56% 31% 13% 0% 100%

% 17% -19% 7% 0% 5%

091

( Standard Margin) KPI

44. 2559 834 22 %

2559 2558

(R&D)

(Representative office)

(ERP)

5. 2559 84 2.3% 2558 112

3.2%

6.

2559 3,615 2558 3,386

229 7%

092

6-12 20%

12-18 50%

> 18 100%

Rating 1 Rating 2 100% Rating

Rating 1

Rating 2

Rating 3 Overdue 90 3

Rating 4 Overdue 31 90

3 Rating 5 Overdue Overdue 30

Non-Movement 12-18 10%

Non-Movement 18-24 30%

Non-Movement 24-36 60%

Non-Movement > 36 85%

31 . . 59 31 . . 58

- 329 51% 214 36%

:

- 3 179 27% 242 41%

- 3 61 9% 57 10%

1 1% 1 1%

31 . . 59 31 . . 58

093

78 12% 81 14%

647 100% 594 100%

(105) -16% (91) -15%

- 542 84% 503 85%

2559 2558 16% 2559 2558

- 31 . . 59 31 . . 58

707 100% 658 100%

(23) -3% (18) -3%

684 97% 640 97%

2559 2558 3%

2559

2559 2,109 2558 1,962

147 8%

094

77. 31 2559 1,506 31

2558 1,418 2559

31 2559 31

2558 1.4 2

8. 2559 2558 1.61 1.7

2559 2558 1.06

2559 2558 81 90 2559 2558 86 77 2559

2558 49 51 2559 2558 118 116

(Finish Goods)

2559 209 2558 290

(38) (42)

095

99. 2559 (Bank Guarantee) 207.36 0.15

1. 2.11

2. 5.79

3. 199.46 0.15

: :

: :

096

2559

( ) 3

3

2559 5

1.

( )

2. ( )

3. ( )

/

( )

097

( )

4.

( ) (SITE AUDIT)

5. ( )

( ) 2560

2559

4

2559

098

20 2560

( )

099

2559

. .

100

2559

- -

( ) 31 255

31 255

2559

****/

- -

( )

****/

- -

****/

- -

( )

31 31 31 31 2559 2558 2559 2558

5 596,221,339 387,237,988 506,679,198 349,379,253 - 6 584,473,552 549,073,842 529,438,848 477,064,536 - 31.3 - 406,802 174,798,553 153,532,343 - 8 267,236,846 261,238,425 250,034,303 238,027,433

- 31.3 - - 282,268,994 377,727,288 - 9 683,641,661 639,215,797 304,764,151 293,422,126 - 10 39,339,439 46,388,748 34,945,146 39,856,532 14,726,266 9,911,526 13,167,396 8,960,156 8,770,857 19,257,277 3,900,131 16,705,997

2,194,409,960 1,912,730,405 2,099,996,720 1,954,675,664

- 7 - - - - 11,238,645 13,038,420 6,093,131 6,049,696 - 11 - - 158,467,442 146,748,025 - 12 44,055,806 44,055,806 20,843,481 20,843,481 - 13 1,132,198,535 1,168,982,137 858,766,822 882,327,654 - 14 93,081,293 95,098,781 90,631,767 94,465,913

15 71,207,033 91,862,502 55,428,990 76,457,890 67,042,925 60,345,991 64,915,502 57,750,137 1,707,596 11,200 1,663,080 -

1,420,531,833 1,473,394,837 1,256,810,215 1,284,642,796 3,614,941,793 3,386,125,242 3,356,806,935 3,239,318,460

- 1 -

( ) ( )

31 31 31 31 2559 2558 2559 2558

16 110,131,122 52,831,167 8,259 498,450 404,946,573 349,557,039 234,056,795 208,474,377

31.3 - - 133,981,153 179,556,819 -

1 17 924,000 - - - -

1 18 2,798,404 1,484,891 439,957 - -

1 19 99,246,315 96,956,798 100,318,876 97,580,164 -

1 20 17,101,419 17,928,621 - -

609,356,430 483,080,883 606,104,580 481,939,494 20,095,540 23,041,367 18,924,705 20,611,933 34,661,979 31,442,889 25,127,821 26,780,191 63,236,163 69,358,395 60,037,054 62,701,432

1,362,497,945 1,125,682,050 1,178,999,200 1,078,142,860

- 17 4,229,000 - - - - 18 4,881,052 2,963,604 1,726,721 -

- 19 415,685,099 516,527,208 420,375,006 522,289,674 - 20 63,570,863 77,083,709 - -

15 133,216,909 133,084,161 116,723,490 118,312,376 21 124,840,501 106,428,267 86,641,301 74,211,268

746,423,424 836,086,949 625,466,518 714,813,318 2,108,921,369 1,961,768,999 1,804,465,718 1,792,956,178

- 2 -

( ) ( )

31 31 31 31 2559 2558 2559 2558

79,487,456 1 23 79,487,456 79,487,456 79,487,456 79,487,456 520,756,281 1 23 520,756,281 520,756,281 520,756,281 520,756,281

79,487,456 1 23 79,487,456 79,487,456 79,487,456 79,487,456 414,607,781 1 23 414,607,781 414,607,781 414,607,781 414,607,781

23 111,455,925 111,455,925 111,455,925 111,455,925 4,555,919 4,555,919 4,769,247 4,769,247

8,542,665 8,398,665 8,542,665 8,542,665 (22,088,943) (22,088,943) (22,088,943) (22,088,943)

24 (3,555,477) (3,555,477) - - 24 - (2,400,000) - -

( ) - 26 58,267,210 52,755,178 58,267,210 52,755,178 355,031,916 279,210,531 431,952,834 328,096,556

25 492,121,366 495,510,741 465,347,042 468,736,417 (749,898) - - -

1,497,675,920 1,417,937,776 1,552,341,217 1,446,362,282 8,344,504 6,418,467 - -

1,506,020,424 1,424,356,243 1,552,341,217 1,446,362,282 3,614,941,793 3,386,125,242 3,356,806,935 3,239,318,460

- 3 -

( )

31 2559

31 31 31 31 2559 2558 2559 2558

3,712,770,062 3,551,023,297 3,419,255,877 3,248,951,279 (2,762,789,916) (2,700,795,198) (2,617,773,129) (2,509,462,918)

949,980,146 850,228,099 801,482,748 739,488,361 25,563,736 32,779,250 53,315,184 73,492,522

975,543,882 883,007,349 854,797,932 812,980,883 (289,902,133) (258,667,804) (256,429,448) (228,678,443)

(483,675,822) (390,232,378) (383,789,911) (297,402,218)(7,459,600) (7,489,600) (7,047,600) (7,097,600)

31.4 (53,086,907) (41,992,344) (48,630,587) (38,220,494)(834,124,462) (698,382,126) (695,897,546) (571,398,755) 141,419,420 184,625,223 158,900,386 241,582,128 (29,060,225) (30,883,119) (20,828,537) (21,486,161)112,359,195 153,742,104 138,071,849 220,095,967

29 (29,794,863) (44,299,116) (27,831,207) (42,854,471) 82,564,332 109,442,988 110,240,642 177,241,496

:

(749,898) - - -

(3,389,375) (3,132,068) (3,389,375) (3,132,068) - 223,963,914 - 211,271,363

21 (6,275,291) (9,159,210) (4,261,707) (5,533,110) (10,414,564) 211,672,636 (7,651,082) 202,606,185 72,149,768 321,115,624 102,589,560 379,847,681

( ) 84,219,333 112,129,253 110,240,642 177,241,496 (1,655,001) (2,686,265) - -

82,564,332 109,442,988 110,240,642 177,241,496

73,804,769 323,801,889 102,589,560 379,847,681 (1,655,001) (2,686,265) - -

72,149,768 321,115,624 102,589,560 379,847,681 28

( ) 0.20 0.27 0.27 0.43 ( ) 414,607,781 412,207,781 414,607,781 414,607,781

28 ( ) 0.16 0.22 0.21 0.34 ( ) 519,754,880 517,354,880 519,754,880 519,754,880

- 4 -

()

31

2559

1 25

5879,

487,45

6

414

,607,7

81

111

,455,9

25

4,555,

919

8,398,

665

(22

,088,9

43)

(5,

955,47

7)

43,

893,10

3

185,10

2,563

-

-

274

,678,8

95

274,67

8,895

7,8

45,044

1,101,

980,93

1

()

-

-

-

-

-

-

-

8,8

62,075

103,26

7,178

-

(9,

159,21

0)

220,83

1,846

211

,672,6

36

(1,426

,577)

322

,375,3

12

31

25

5879,

487,45

6

414

,607,7

81

111

,455,9

25

4,555,

919

8,398,

665

(22

,088,9

43)

(5,

955,47

7)

52,

755,17

8

288,36

9,741

-

(9,

159,21

0)

495,51

0,741

486

,351,5

31

6,418,

467

1,4

24,356

,243

-

-

-

-

-

-

-

5,5

12,032

(5,512

,032)

-

-

-

-

-

-

-

-

-

-

144

,000

-

2,4

00,000

-

-

-

-

-

-

-

2,5

44,000

-

-

-

-

-

-

-

-

-

-

-

-

-

3,581,

038

3,5

81,038

(

)-

-

-

-

-

-

-

-

87,

608,70

8

(74

9,898)

(6,

275,29

1)

(3,389

,375)

(10,41

4,564)

(1,655

,001)

75,

539,14

3

31

25

5979,

487,45

6

414

,607,7

81

111

,455,9

25

4,555,

919

8,542,

665

(22

,088,9

43)

(3,

555,47

7)

58,

267,21

0

370,46

6,417

(74

9,898)

(15

,434,5

01)

492

,121,3

66

475,93

6,967

8,3

44,504

1,506,

020,42

4

()

(

)

- 5 -

()

31

2559

1 25

5879,

487,45

6

414

,607,7

81

111

,455,9

25

4,7

69,247

8,5

42,665

(22

,088,9

43)

43,

893,10

3

165,25

0,245

-

260,59

7,122

1,0

66,514

,601

()

-

-

-

-

-

-

8,8

62,075

168,37

9,421

(5,

533,11

0)

208,13

9,295

379

,847,6

81

31

2558

79,487

,456

414,60

7,781

111,45

5,925

4,769,

247

8,542,

665

(22,08

8,943)

52,755

,178

333

,629,6

66

(5,533

,110)

468

,736,4

17

1,446,

362,28

2

-

-

-

-

-

-

5,5

12,032

(5,512

,032)

-

-

-

()

-

-

-

-

-

-

-

113,63

0,017

(4,

261,70

7)

(3,389

,375)

105

,978,9

35

31

2559

79,487

,456

414,60

7,781

111,45

5,925

4,769,

247

8,542,

665

(22,08

8,943)

58,267

,210

441

,747,6

51

(9,794

,817)

465

,347,0

42

1,552,

341,21

7

()

()

- 6 -

( )

31 2559

2559 2558 2559 2558

112,359,195 153,742,104 138,071,849 220,095,967

71,554,124 70,318,677 48,400,737 39,950,009 11,583,078 2,240,841 11,156,067 1,824,133

16,167,861 8,472,412 7,669,384 (10,134,437) - - 676,642 -

( ) (4,992,000) - - - ( ) - - (500,000) -

( ) 5,398,249 (3,936,605) 2,853,321 (3,319,033)( ) (336,059) 5,155,820 (545,766) 5,062,584

( ) - 9,663,208 - 3,381,448 8 - 8 -

( ) (1,242,953) (2,444,758) (1,224,387) (2,497,700)( ) (2,945,827) 3,695,149 (1,687,228) 4,722,582

12,136,943 10,874,057 8,168,326 7,355,722 21,658 - - -

(3,897,935) (3,750,322) (23,505,600) (26,345,168) 29,060,225 30,883,119 20,828,537 21,486,160

( ) 244,866,567 284,913,702 210,361,890 261,582,267

( ) (50,676,940) 153,073,606 (58,441,176) 139,466,123 406,802 (65,037) (21,266,210) 9,292,002 - 30,000 - 30,000

(5,506,793) (16,088,877) (12,269,881) (14,029,876) (49,824,113) (118,255,589) (14,195,347) (116,402,356) 13,067,053 (27,814,035) 13,686,495 (28,371,313)

(1,696,396) - (1,663,080) -

( ) 55,250,174 (61,278,043) 25,467,296 (41,435,451)

- (9,309) (45,575,666) 133,751,655 126,275,547 1,746,000 124,165,086 3,464,369 (3,262,858) 15,391,497 (4,316,748) 10,784,314

- 7 -

( ) ( )

31 2559

2559 2558 2559 2558( ) 328,899,043 231,643,915 215,952,659 358,131,734

3,897,935 3,750,322 7,963,895 3,612,078 (28,228,347) (30,053,513) (19,996,659) (20,656,555)

(14,445,813) (18,326,038) (14,709,214) (16,977,518) - (1,747,000) - (1,413,700)

( ) 290,122,818 185,267,686 189,210,681 322,696,039

( ) 1,799,775 6,370,140 (43,435) (49,225) - 100,000,000 - 100,000,000

- - (25,000,000) (435,000,000) - - 136,000,000 298,000,000

1,637,196 1,074,449 1,523,178 433,542 38,195 - 38,195 -

- - 573,133 - (32,286,947) (114,015,683) (24,462,603) (96,098,783) (9,603,793) (31,715,082) (7,360,124) (31,405,802)

- - (12,469,192) (26,999,400) ( ) (38,415,574) (38,286,176) 68,799,152 (191,119,668)

( ) 57,299,955 (19,476,161) (490,190) (1,293,578)

3,509,248 - - - 7,392,000 - - - 6,000,000 - - -

(847,000) - - - (99,240,471) (138,312,109) (100,007,836) (139,144,053) (14,340,048) (15,587,485) - -

(1,747,679) (883,989) (211,862) - ( ) (41,973,995) (174,259,744) (100,709,888) (140,437,631)

(749,898) - - - ( ) 208,983,351 (27,278,234) 157,299,945 (8,861,260)

5 387,237,988 414,516,222 349,379,253 358,240,513 5 596,221,339 387,237,988 506,679,198 349,379,253

3 2559 2.20

- 8 -

( )

31 255

-9-

1. 1.1 28 2508 372/2508 28

2536 0107536000587 1.2 348 .9 10250

79/1 14 33 10540 1.3

-

1.4 4 1.5 5

2. 2558 ( )

( ) ( )

3

255 31

255

99.99 99.99 99.98 99.98 80.00 80.00

99.99 99.99 . -

. - * - 99.98 ** 99.98 99.98 ( ( ) 39.99 60)

( )

31 255

-10-

* **

3.

(“ ”)

3.1

. ( )

1 2559

.

( 2559) 1 25

( )

31 255

-11-

( )

( )

3.2

-

-

- 3

-

3

( )

31 255

-12-

-

-

( Cost Method )

( )

2547

(Market Approach) (Cost Approach)

" " " "

( )

31 255

-13-

25/2549 11 2549 30 2549

( ) ( )

( )

30 50 5

8 3 5

5

5

( )

( )

31 255

-14-

/

-

-

-

3 3

-

( )

31 255

-15-

(Projected Unit Credit Method)

(Actuarial gains and losses)

( )

31 255

-16-

( )

( )

31 255

-17-

( ) ( ) ( )

( . . )

( )

31 255

-18-

4.

( )

31 255

-19-

21

5.

31

255 31

255 31

255 31

255 1,189 863 1,007 669

, , 69,266 65,294 506,660 , 436,406 283,41

( 3 ) 51 - - 596,221 , 506,679 349,3

6. -

31

255 31

255 31

255 31

255 647,396 , 590,157 ,

(105,160) ( , ) (92,680) (85,258) 542,236 , 497,477 447,

49,149 , 35,095 31,956

2,617 , 869 1,519 (9,528) ( , ) (4,002) (4,018)

42,238 , 31,962 29,457 - 584,474 , 529,439 7 ,

( )

31 255

-20-

31

255 31

255 31

255 31

255

- 329,180 , 305,777 187,05 :

- 3 179,049 , 159,461 , - 3 6 20,316 , 16,271 27,139 - 6 12 6,653 , 6,058 11,551

- 12 33,944 , 31,956 4,117 651 651 651

77,603 , 69,983 80,048 647,396 , 590,157 ,

(105,160) ( , ) (92,680) (85,258) - 542,236 , 497,477 ,

31

255 31

255 31

255 31

255 91,035 110,993 85,258 106,949

- ( , ) - (28,961) ( ) 14,125 , 7,422 7,270

105,160 , 92,680 85,258

14.13 . . .

.

( )

31 255

-21-

7. -

31

2559 31

2558 31

2559 31

2558

30,5 30,528 30,5 30,528 (30,5 ) (30,528) (30,5 ) (30,528)

- - - -

31

2559 31

2558 31

2559 31

2558 ,528 ,558 ,528 ,558

( ) - (30) - (30) 30,528 30,528 30,528 30,528

8. -

31

255 31

255 31

255 31

255 285,731 , 268,200 255,929

(18,494) ( , ) (18,166) (17,902) 267,237 , 250,034 238,027

( )

31 255

-22-

31

255 31

255 31

255 31

255 18,986 , 17,902 17,469

( ) (492) 264 433 18,494 , 18,166 17,902

9. -

31

255 31

255 31

255 31

255 85,354 104,211 14,241 14,171

483,163 446,624 249,337 259,123 119,970 , 44,141 26,842 18,848 , 9,089 2,476

707,335 , 316,808 302,6 (23,693) ( , ) (12,044) (9,190)

683,642 , 304,764 ,

31

255 31

255 31

255 31

255 18,295 22,231 9,190 12,509

( ) 5,398 ( , ) 2,854 (3,319) 23,693 , 12,044 9,190

( )

31 255

-23-

10. -

31

2559 3

2558 31

2559 3

2558 40,438 47,487 36,044 40,955 ( , ) (1,099) (1,099) (1,099) 39,339 46,388 34,945 39,856

11. -

( )

( ) ( ) ( )

31

255

31

255

31

255

31

255

31

255

31

255

31

255

31

255

:-

-

100.00 100.00 99.99 99.99 99,999 99,999 - -

- 2.50 2.50 39.99 39.99 1,000 1,000 - -

- 30.00 30.00 99.98 99.98 29,999 29,999 - -

- - 1.25 - 99.98 - 1,250 - -

*

- 10.00 10.00 80.00 80.00 8,000 8,000 - -

- 10.00 10.00 99.99 99.99 9,999 9,999 - -

- 5.36

-

.

- 5,362 - - -

- . 1

-

.

- , - - -

(2,999) (3,499) - -

– 158,467 146,748 - -

*

( )

31 255

-24-

2558

/ ( . ) , ,

/

10 2559

/ 0 ( )

4/2558 11 2558 , . . , . 4

2 , . 2559 .

4/2558 11 2558 23.50 17.92 50 (11.75 ) 24 2559 60

70,500 7.05 18 2559 5.36

11 2558 - 3,000,000 30,000,000 270,000 100 11 2558

( )

31 255

-25-

12. - 31 2559 2558

44.05 20.84 ( 255 .

. ) ( 16) ( 19) ( 34)

()

31

255

-26-

13.

-

(

)

-

31

2558

,

513,35

7

511,61

2

128,90

6

294,60

1

270

101

,973

122

,428

27,

250

1,8

12,412

-

-

-

-

6,7

18

-

6,853

3,2

42

26,196

43,009

-

-

-

-

(3,

990)

-

(5,

095)

(4,

516)

(11

,158)

(24

,759)

(

)

-

-

3,481

-

740

-

7,1

55

-

(6,633

)

4,743

31

25

59

112,01

5

513,35

7

515,09

3

128,90

6

298,06

9

270

110

,886

121

,154

35,

655

1,8

35,405

31

2558

-

-

(21

4,656)

(16,59

8)

(222,7

14)

-

(56

,794)

(75

,722)

-

(58

6,484)

-

-

(9,037

)

(4,237

)

(20,06

4)

-

(19,96

1)

(19,10

1)

-

(72,40

0)

-

-

-

-

3,5

28

-

4,678

4,4

18

-

12,

624

-

-

-

-

-

-

-

-

-

-

31

25

59

-

-

(223,6

93)

(20

,835)

(23

9,250)

-

(72,07

7)

(90,40

5)

-

(646,2

60)

31

25

58

-

(3,325

)

(15,94

9)

(37,08

7)

(585)

-

-

-

-

(56

,946)

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

31

25

59

-

(3,325

)

(15,94

9)

(37,08

7)

(585)

-

-

-

-

(56

,946)

-

31

2559

112

,015

510

,032

275

,451

70,

984

58,

234

270

38,809

30,749

35,655

1,132,

199

()

31

255

-27-

()

-

31

2557

93,

453

293

,299

457

,932

67,

436

283

,169

270

86,771

109,90

4

63,681

1,45

,915

-

220,05

8

-

61,470

12,389

-

11,942

13,064

92,949

411,87

2

-

-

-

-

(25

,483)

-

(8,

894)

(54

2)

(20,15

3)

(55,07

2)

()

18,

562

-

53,

680

-

24,

526

-

12,

154

2

(10

9,227)

(303)

31

2558

112

,015

513

,357

511

,612

128

,906

294

,601

270

101,97

3

122,42

8

27,250

1,812,

412

31

25

57

-

-

(199,6

50)

(12

,683)

(22

1,378)

-

(50,22

6)

(57,81

2)

-

(541,7

49)

-

-

(11

,388)

(3,

915)

(24

,891)

-

(16

,322)

(18

,452)

-

(74

,968)

-

-

(2,798

)

-

23,555

-

8,859

542

-

30,158

-

-

(82

0)

-

-

-

895

-

-

75

31

2558

-

-

(21

4,656)

(16,59

8)

(222,7

14)

-

(56

,794)

(75

,722)

-

(58

6,484)

31

2557

-

-

(9,

667)

(35

,783)

(1,

833)

-

-

-

(6,

630)

(53

,913)

-

(3,325

)

(6,282

)

(1,304

)

-

-

-

-

-

(10,91

1)

-

-

-

-

1,248

-

-

-

6,6

30

7,8

78

31

2558

-

(3,

325)

(15

,949)

(37

,087)

(58

5)

-

-

-

-

(56,94

6) -

31

25

58

112,01

5

510,03

2

281,00

7

75,221

71,302

270

45,

179

46,

706

27,

250

1,1

68,982

()

31

255

-28-

()

-

31

25

58

66,564

477,04

3

269,17

8

128,90

6

61,593

14,180

83,642

113,09

3

21,349

1,235,

548

-

-

-

-

2,196

-

4,6

74

3,146

21,

694

31,

710

-

-

-

-

(3,990

)

-

(4,914

)

(3,550

)

(10,83

4)

(23,28

8)

()

-

-

-

-

98

-

6,5

95

-

(903)

5,7

90

31

25

59

66,564

477,04

3

269,17

8

128,90

6

59,897

14,180

89,997

112,68

9

31,306

1,249,

760

31

25

58

-

-

(153,4

50)

(20

,028)

(46

,337)

(14

,180)

(46

,444)

(67

,567)

-

(34

8,006)

-

-

(4,989

)

(4,237

)

(5,546

)

-

(15,86

2)

(18,61

5)

-

(49,24

9)

-

-

-

-

3,5

28

-

4,497

3,4

51

-

11,476

-

-

-

-

-

-

-

-

-

-

31

2559

-

-

(15

8,439)

(24,26

5)

(48,35

5)

(14,18

0)

(57,80

9)

(82,73

1)

-

(385,7

79)

31

25

58

-

(3,325

)

-

(1,304

)

(585)

-

-

-

-

(5,

)

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

31

2559

-

(3,

325)

-

(1,

304)

(58

5)

-

-

-

-

(5,)

-

31

2559

66,

564

473

,718

110

,739

103

,337

10,

957

-

32,

188

29,

958

31,

306

858

,767

()

31

255

-29-

()

-

31

25

57

51,608

274,42

4

242,95

1

67,4

74,778

14,180

68,969

100,02

7

13,372

,

-

202,61

9

-

61,470

5,414

-

8,6

11

13,064

81,814

372,99

2

-

-

-

-

(18

,897)

-

(6,

859)

-

(19

,418)

(45

,174)

(

)

14,956

-

26,227

-

298

-

12,

921

2

(54

,419)

(15

)

31

25

58

66,564

477,04

3

269,17

8

128,90

6

61,593

14,180

83,642

113,09

3

21,349

1,235,

548

31

25

57

-

-

(144,7

68)

(16

,113)

(58

,587)

(14

,180)

(41

,150)

(49

,603)

-

(32

4,401)

-

-

(4,745

)

(3,915

)

(5,094

)

-

(12,14

7)

(17,96

4)

-

(43,86

5)

-

-

(3,

937)

-

17,

344

-

6,8

53

-

-

20,260

-

-

-

-

-

-

-

-

-

-

31

2558

-

-

(15

3,450)

(20,02

8)

(46,33

7)

(14,18

0)

(46,44

4)

(67,56

7)

-

(348,0

06)

31

25

57

-

-

-

-

(1,833

)

-

-

-

(6,629

)

(8,462

)

-

(3,

325)

-

(1,

304)

-

-

-

-

-

(4,

629)

-

-

-

-

1,2

48

-

-

-

6,629

7,8

77

31

25

58

-

(3,325

)

-

(1,304

)

(585)

-

-

-

-

(5,

) -

31

25

58

66,564

473,71

8

115,72

8

107,57

4

14,671

-

37,198

45,526

21,349

882,32

8

( )

31 255

-30-

31 255 255 71.99 . 49.25 .

9 2558 437.84 . 290.97 .

804.17 796.51 563.85 563.85

( 16) ( 9) ( 20) ( 34)

31 9 2558 8

“ ”

. 558

2559 2558 558

( )

31 255

-31-

14. -

31 255

( )

31

255

, 2,039 ,57 (22,056) 142,57 , 0 - 1,047 - 24,927

, 12,728 (103,361) (420) - , 14,767 (4,74 ) (22,476) 167,50

( , ) (11,583) - 22,018 (71,098) , 3,184 (4,74 ) (458) 96,40

( , ) - - - (3,326) , 3,184 (4,74 ) (458) 93,08

31 2557

/

/

31

2558

63,584 , ( , ) , 23,880 - - , 0

61,710 , - , 149,174 , ( , ) ,

(80,437) ( , ) , ( , ) 68,737 , ( , ) ,

(3,326) - - ( , ) 65,411 , ( , ) ,

( )

31 255

-32-

31 2558

( )

31

2559

, , ( , ) ,918 , - - - 21,947

, 12,728 (103,361) (421) - , 13,571 (5,790) (22,477) 159,865

( , ) (11,156) - 22,018 (65,907) , 2,415 (5,790) (459) 93,958

( , ) - - - (3,326) , 2,415 (5,790) (459) 90,632

31 2557

/

/

31

2558

60,485 , ( , ) , 21,947 - - ,

61,711 , - , 144,143 , ( , ) ,

(75,933) ( , ) ( , ) 68,210 , ( , ) ,

(3,326) - - ( , ) 64,884 , ( , ) ,

( )

31 255

-33-

31

31 255 255 255 255

11,580 1,096 11,156 1,096

15. 31 2559 2558

31

255 31

255 31

255 31

255 -

71,207 91,8 55,429 76,458 -

(133,217) (133,084) (116,723) (118,312)

( )

31 255

-34-

( ) / 1 31 255 ( ) 255

,548 3,237 - - 31,785

2,365 744 - - 3,109 4,104 107 - - 4,211

2,642 - - - 2,642

2,723 (1,179) - - 1,544

16,671 2,851 - - 19,522 34,809 (26,415) - - 8,394

91,862 (20,655) - - 71,207

- (8,637) (980) - - (9,617)

(124,447) - 847 - (123,600)

(133,084) (980) 847 - (133,217) ( ) ( ,635)

( )

31 255

-35-

( ) / 1 31 255 ( ) 255

27,066 1,537 - - 28,603

1,838 571 - - 2,409 4,104 107 - - 4,211

1,392 - - - 1,392

2,665 (1,179) - - 1,486

14,842 2,486 - - 17,328 24,551 (24,551) - - -

76,458 (21,029) - - 55,429

- (1,128) 742 - - (386)

(117,184) - - (116,337)

(118,312) - (116,723)

( ) ( , )

( )

31 255

-36-

31

255 31

255 31

255 31

255 - -

, , - - , , - -

, , - -

, 10,222 - -

, 25,326 - -

31 255 255 . 2 .

16.

31

255 31

255 31

255 31

255 , 21,412 8 498 , 31,419 - - , 52,831 8 498

31 255 794.77 630.00

( 3)

( )

31 255

-37-

. . - ( 3) - ( 2)

-

. . - ( 2) - ( 3) -

. . - ( 3) - ( 2) - - -

. . - ( 12) - ( 13) -

/

. . - ( 3) - ( 2) - - -

. . - ( 13) - ( 2) - -

( )

31 255

-38-

. - - ( 12)

- ( 13) - -

17. -

31 255 31 2558

, - ( ) -

- , -

18. -

31

255 31

255 31

255 31

255 8,417 , 2,427 -

(738) ( ) (261) - 7,679 , 2,166 -

(2,798) ( , ) (439) -

4,881 , 1,727 -

( )

31 255

-39-

19. -

,922,322.28

8 MLR

92,353,650.01

.

, , .

.

, , .

-

, , . 10

/

( 3 )

.

, , .

. (“PKM”) ( (“PKB”))

PKM SPN

PKM SPN

. PKM SPN PKM SPN

( ) PKM SPN PKM SPN

, , , ,

( )

31 255

-40-

31

255 31

255 31

255 31

255 514,931 , , 619,870 (99,246) ( , ) ( , ) (97,580) - 415,685 , , 522,290

20. -

30 2554 27 2554

31 255 31 2558

,672 , (17,101) ( , )

- 63,571 ,

( 13)

( )

31 255

-41-

(1) 62,625,877.4

2564 1,568,000

MLR

, , .

,077,079.3 2,010,462.2

(2) 41,566,225.0

2564 1, ,000

MLR

, ,0 .

,202.3 1,436,881.7

, ,

25

.

MLR , , .

, 16,966,438.3

23,940,354.5

2564

608,000

MLR

6,519,437.

57,000 ,589,843.47

,929,594.1

11,404,901.9

, , .

250,000

MLR

, .

, . 3 ,496.68

( )

31 255

-42-

21.

Projected unit credit

31

255 31

255 31

255 31

255 106,428 , 74,211 62,736

12,137 , 8,168 7,355 - ( , ) - (1,413) ( ) 6,275 , 4,262 5,533 124,840 , 86,641 74,21

124,840

,

86,641

74,21 31 255

: 106,428 74,211

( ) 7,880 5,200 4,257 2,968 - -

118,565 82,379

( )

6,275 4,262

( )

31 255

-43-

31

255 31

255 31

255 31

255

7,880 , 5,200 4,846 4,257 , 2,968 2,509

12,137 , 8,168 7,355

(Actuaria basis)

31 2559 2558 31 2559 2558 ( ) .0 .0

( ) .6 .6 ( )

22. -

17,101,510 3.1647 (33,744,100

) 106,833,875 -

30 2554 - ( )

( )

31 255

-44-

23. ( )

31 255 31 255

414,607,781 414,607,781 414,607,781 414,607,781 79,487,456 79,487,456 79,487,456 79,487,456 106,148,500 106,148,500 106,148,500 106,148,500 600,243,737 600,243,737 600,243,737 600,243,737

1 414,607,781 414,607,781 414,607,781 414,607,781

79,487,456 79,487,456 79,487,456 79,487,456

1 - - - - 1 - - - - 494,095,237 494,095,237 494,095,237 494,095,237

1 414,607,781 414,607,781 414,607,781 414,607,781 1 79,487,456 79,487,456 79,487,456 79,487,456 494,095,237 494,095,237 494,095,237 494,095,237

0.06 414,607,781 8,542,665 414,607,781 8,542,665 0.06 79,487,456 4,769,247 79,487,456 4,769,247

414,607,781 (22,088,943) 414,607,781 (22,088,943)

( 19) 1.06 5 2554

21 2554 ()

( )

31 255

-45-

. 52.99 (52,999,999 1 ) 272.23 (272,230,101 1 ) 52,999,999 1 272.23 (272,230,101 1 ) 600.24 (600,243,737

1 ) 10 2554 9 2554

. ( 19) 142.38 (142,377,680 1 ) 79.49 (79,487,456 1

) 221.87

( ) 30 2554

( 19) :

2554 106,148,50 1

1 0.01 1 10

/ 31 255 ( ) ( )

106,148,500 111,455,925 - - - -

106,148,500 111,455,925

. . 2535 51 (“ ”)

( )

31 255

-46-

24. 3,555,477

1 2,400,000 1 / (

. ) , ,

31 255 3,555,477 1 2,400,000 1

“”

25.

31

255 3

255 31

255 3

255 510,512 , , , - 218,486 - ,6 - - - - 510,512 510,512 477,043 , , , , , - , - , - ( , ) - ( , ) - - - - - - (4,237) ( , ) (4,237) ( , ) 104,640 , 104,640 , 615,152 619,389 581,683 ,

(123,031) (123,878) (116,336) ( , ) - 492,121 495,511 465,347 ,

( )

31 255

-47-

. . ( ) ( ) “ ” “

”

26.

5 ( ) 10

27.

90

28. ( )

( ) :

( ) 31 255 255

( )

31 255

-48-

( ) :

( ) 31 255 255

255 255 255 255 ( / )

( ) ( ) 82,564

,

110,241

,

( ) 414,608 , 414,608 ,

( ) 0.20 . 0.27 .

255 255 255 255 ( / )

( ) ( ) 82,564

,

110,241

,

1 414,608 , 414,608 , 105,147 , 105,147 , ( ) 519,755 , 519,755 ,

( ) 0.16 . 0.21 .

( )

31 255

-49-

29.

31 255 255

255 255 255 255

: (8,1 ) - (7,544) -

:

( , ) (44,299) (20,287) (42,854)

( )

( ) (29,79 ) (44,299) (27,831) (42,854)

255 255

138,072 220,096 20 27,614 20 44,019

(1,043) (4,013) 5,539 3,181 - (24,551)

32,110 18,636

11 2554

( )

31 255

-50-

30.

31 31 255 255 255 255

, 63,761 (17,368) 13,208 , , 2,992,501 1,973,191 1,765,534

740, 734,265 549,408 525,245 85,308 82,480 61,808 51,852

( ) 3,812 (25,531) 11,687 (21,288) ( )

(255) (10,590) 2,853 (9,319)

31.

.

. ( )

( )

31 255

-51-

31.2

1% 3% 6%

1%

3% 6%

MOR 1,000 - 360,800

MOR

( )

31 255

-52-

31.3

31

255 31

255 31

255 31

255

- - , 28,800 - - , 64,286 ( ) - 407 - 407 - - , 58,786

- - - 43 - - - - - -

- 407 ,83 152,322 -

- - , 1,209 - - 467 -

- - 131 - - - 3,366 1,209

- - - 3,600 -

- 407 174,79 15 ,531

( )

31 255

-53-

31

255 31

255 31

255 31

255

- 5,636 3,391

- 3 - - 8,631 5,451 - - 5,967 6,573 - - - 13,644 10,123 - - - 133,954 126,784 - 407 167,832 152,322

6 147.59

( )

31 255

-54-

31

255 31

255 31

255 31

255

-

- - 70,000 ,000 - - 17,000 23,000 - - 145,000 210,000 - - 232,000 343,000

- - 14,38 12,506

- - 8,908 7,380 - - 26,974 14,841 - - 50,2 34,727

- - - 282,2 377,727

1 2559 31 255

110,000 - (40,000) 70,000 23,000 - (6,000) 17,000

210,000 25,000 (90,000) 145,000 343,000 25,000 (136,000) 232,000

MOR ( )

( )

31 255

-55-

31

255 31

255 31

255 31

255

- - 69,145 128,098 - - 5,064 ,

- - 8,543 3,161 - - 56,992 34,125 - - 139,744 ,

- , 39,553 , 31,355

( )

31 255

-56-

31.4

9 8

31 31 2559 2558 2559 2558

- - , 4,988 - - 101 - - , 5,045 - - 11

- - , 10,145

- - , 889,318 - - , 95,032 - - , , - - , 120,281

- - , , , ,

- - , -

, - , -

( )

31 255

-57-

31 31

- - ,675 , - - 6,515 , - - 3,234 2,472 - - 10 12

- - 12 12 - - 4,240 320

( ) - 1,955 - ,

- 1,955 20,686 ,

- - 371 - - - 201 - - - 572 -

- - 1,528 3,121 - - 6,901 7,487 - - 12,132 12,178 - - - 13

- - 20,561 22,799

53,087 41,992 48,630 38,220 3,064 2,817 2,405 2,152

56,151 44,809 51,035 40,372

( )

31 255

-58-

31.5

31 255 255 27 2,346 14 4,039 , 18 -

- , , - , ,

-

- ,

- , , , ,

( )

31 255

-59-

31

,346 27 4,039 , 14 119 224 ,

32.

-

( )

31 255

-60-

31 255 255

31 255

- 1,595.61 738.95 488.29 - 2,822.85 - 740.35 149.56 - - 889.91 (1,747.9 ) (690.52) (324.3 ) - (2,762.7 )

. 197.99 163.9 - 949.9 6.90 2.16 0.88 15.63 25.57

(75.39) (44.52) (58.69) (111.31) (289.91) - - - (483.68) (483.68)

- - - (7.46) (7.46) - - - (53.08) (53.08)

( ) 519.5 155.63 106.1 (639.90) 141.4 - - - - (29.06) (29.06)

( ) 519.5 155.63 106.1 (668.96) 112.3 - - - (29. ) (29. )

( ) 519.5 155.63 106.1 (698.7 ) 82.56

- 0.13 0.57 1.48 1,130.02 1,132.20

( )

31 255

-61-

31 255

- 1,304.21 875.01 449.97 - 2,629.19 - . . . - 921.83

(1,480.90) (911.48) (308.44) - (2,700.82) . . . - 850.20

13.35 (7.57) (0.32) 27.32 32.78 (66.10) (51.91) (41.56) (99.09) (258.6 )

- - - (390.21) (390.21) - - - (7.49) (7.49)

- - - (41.99) (41.99) ( ) . . . (511.46) 184.63

- - - - (30.88) (30.88) ( ) . . . (542.3 ) 153.7

- - - (44. ) (44. ) ( ) . . . ( . ) 109.4

- 0.19 0.76 2.14 1,165.89 1,168.98

( )

31 255

-62-

31 255

- 1,409.23 738.96 381.15 - 2,529.34 - 740.36 149.56 - - 889.92 (1,648.32) (702.10) (267.36) - (2,617.78)

501.27 186.42 113.79 - 801.48 6.90 2.16 0.88 43.38 53.32

(137.96) (50.71) (58.69) (9.07) (256.43) - - - (383.79) (383.79)

- - - (7.05) (7.05) - - - (48.63) (48.63)

( ) 370.21 137.87 55.98 (405.16) 158.90 - - - - (20.83) (20.83)

( ) 370.21 137.87 55.98 (425.99) 138.07 - - - (27.83) (27.83)

( ) 370.21 137.87 55.98 (453.82) 110.24

- 0.13 0.57 1.48 856.59 858.77

( )

31 255

-63-

31 255

- 1,117.12 875.01 345.61 - 2,337.74 - 690.33 220.88 - - 911.21

(1,352.87) (926.37) (230.22) - (2,509.46) 454.58 169.52 115.39 - 739.49

13.35 (7.57) (0.32) 68.03 73.49 (101.46) (62.56) (41.56) (23.10) (228.68)

- - - (297.40) (297.40) - - - (7.10) (7.10)

- - - (38.22) (38.22) ( ) 366.4 99. 73.51 (297.7 ) 241.

- - - - (21.49) (21.49) ( ) 366.4 99. 73.51 (319. ) 220.

- - - (42.85) (42.85) ( ) 366.4 99. 73.51 ( . ) 177.

- 0.19 0.76 2.14 879.24 88 .33

( )

31 255

-64-

33. 33.1

2

33.2

33.3

Natural hedge

31 255 255

31

255 31

255 31

255 31

255 , 2,560 552

2,897,259 , 210,107 159,215 13,539 , 1,413 1,414 264,326 , 264,326 169,266

/ 1,789 , 1,661 1,640 31 31 147

5 - - , - , 483,578 , 483,578 , 861 - -

275 259 33 237 123 300 - , - 8,167 6,056 - , - 69 - - -

( )

31 255

-65-

33.4

33.5

34.

34.1 31

255 31

255

- 60.89 71.11 - . .

. .

11.60 9.63 15.26 11.58

26.86 21.21

( )

31 255

-66-

31 255

31 255

- 120,000 80,000 - 651,974 , - 110,000,000 - - 17,000 -

34.2

31 255

31

255 31

255

- ( ) 207.36 200.77 - ( ) 149.27 149.27

35.

255 2546

21.05

36.

31 255 255 1.40 1.38 : 1 ( 1.16 1.23 : 1 )

( )

31 255

-67-

37. 31 255

31 255

38.

( ) /

, ,

.

.

, , .

39. 23 25

172

173

174

175

176

177

178