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FORM 56-1 For the Year 2006
Citation preview
( 56-1) 2549
( )
11 ((EExxeeccuuttiivvee SSuummmmaarryy)) 1
22 3
1. 4
2. 14
3. 24
3.1 24
3.2 45
3.3 45
3.4 46
3.5 47
4. 65
5. 66
6. 69
7. 72
8. 77
8.1 77
8.2 90
8.3 91
8.4 91
9. 111
9.1 111
9.2 120
9.3 122
9.4 135
9.5 135
10. 138
11. 139
12. 152
12.1 152
12.2 153
12.3 156
12.4 157
12.5 175
13. 176
1: 177
2: 191
33 197
( ) ( 56-1)
TRUETB: 1
1
(Executive Summary)
( ) (“ ” “ ”)
(“ ”)
( ( ) “ ”)
( ( ) “ ”)
Convergence Lifestyle
2549 Convergence Lifestyle
2549
50.4 ( 21.7%)
EBITDA 16.9 ( 7.8%)
3.1
( )
( ) 11
( ) 7.58
1.98
0.85
( ) 0.56
(WE PCT) 0.35
( ) ( 56-1)
TRUETB: 2
2550
“ ” 2
3
1. (Wireline)
2. (Wireless)
3. (Pay - TV)
31
2549
- 122,956
- 115,556
- 7,400
- ( ) (4,180)
2
56-1 “ ” “ ” “ ” “ ”
( ) / /
( )
18 27
10310
66 (0) 2699-2515 66 (0) 2643-0515
( ) ( 56-1)
TRUETC: 3
22
( )
18
10310
0107536000081 Home Page www.truecorp.co.th
( . 82)
66(0) 2643-1111 66(0) 2643-1651
( ) ( 56-1)
TRUETD: 4
11..
2550
2548
(ARPU)
2548 10 ( 437
393 ) 2549 26
( 292 )
(EBITDA Margin) 2549 21.4 ( 23.4 2548)
( .)
(Number Portability)
2550
25 .
. . 2549 3
(Interconnection Charge)
( ) ( 56-1)
TRUETD: 5
. 2548 2549 .
(VoIP)
1 3 2547
(International Internet Gateway)
(International Direct Dialing – IDD)
3G
(WiMax) (Number Portability)
( ) ( 56-1)
TRUETD: 6
‘ ’ ‘ ’
WTO
2549
2
. . 2543 2543
. . 2544 2544
2547 .
( ( )
) (
( ) )
( ) ( 56-1)
TRUETD: 7
. 2549 .
(1) .
(2) .
3
(3) .
(4) .
9 10
(5) .
. . 2549
(6) . . . 2549
(7) .
(8) . . . 2549
(9) .
. . 2549
. 2550
( .)
. .
.
. . . 2556
( 44 2549)
( ) ( 56-1)
TRUETD: 8
.
.
.
.
2549 2550
. . 2535
.
2550
0 ( 2
11 )
. . 2546
.
(Interconnection Charge Agreement) (Access
Charge)
( ) ( 56-1)
TRUETD: 9
(Access Charge Agreement)
200
(Post Pay) 18
(Pre Pay) 25
2549 . .
. . 2549 (Interconnection Regulation)
.
17 2549
(Interconnection Contract)
. ( )
16 2550 .
( )
1 2550
1 2550
(Access
Charge) (Access Charge Agreement)
.
. . 2549
17 . . 2549
Access Charge
(Interconnection Contract)
.
( ) ( 56-1)
TRUETD: 10
23 . . 2549
.
(Access Charge Agreement)
. /
18 2549 31 2549
455.6 204.3
( 22)
. 1.5
26 2550
30
2550
2 2550
/
. ( ) / . ( )
/
( ) ( 56-1)
TRUETD: 11
(
)
38 “
”
( ) ( 56-1)
TRUETD: 12
31 2549 40
( ) 9.5
2549 31
160 87
200
465
3.4
. . 2557 . . 2560
(Interest rate swap)
( ) 49
2549 4.2
44.2
2540
( ) ( 56-1)
TRUETD: 13
(
( ) )
. . 2557 2562
( ) ( 56-1)
TRUETE: 14
22..
2533 2536
( ) 2536 “TA”
2547
( ) “TRUE”
45,015 2549
(Vision)
(Convergence Lifestyle) (Mission)
30.4 ( 31 2549)
( ) ( 56-1)
TRUETE: 15
5
( )
(
WE PCT )
( ( ))
( ) (“ ”) Build-Transfer-Operate (BTO)
2.6
25 . . 2560
2535
2542 PCT 2544
ADSL
Cable Modem 2546
Wi-Fi 2549
2544 ( )
( ) 41.1
2545
( )
( 31 2549)
( ) 93.4
( ) 4 2547
2549
GSM (Global System for Mobile Communications)
1800 MHz . (“ ”) Build-
Transfer-Operate (BTO) . . 2556
( ) ( 56-1)
TRUETE: 16
2548 - 2549
(VoIP)
2549 MIH
(Tender Offer)
91.8 2549
1 2549
2550
25 30 2557 31
2562
2549 50,000
1 10,000
2549
2549 “ (True Money Services)”
Prepaid , WE PCT Buddy, Fun Card Internet Kit
(True Money Card)
2549
(Synergies)
( ) ( 56-1)
TRUETE: 17
2549
IPTV
2549 UBC True Knowledge (Bronze) Package
“ ”
Special Force (SF)
2549 True Knowledge Package
MPLS Data Networking Solution MPLS (Multi-Protocol Label
Switching)
(converge networking solutions)
2549 Wi-Fi Zone Outdoor
PDA, Pocket PC Notebook WI-Fi
4
92
2549 “Full Song Download”
( ) ( 56-1)
TRUETE: 18
(Private
Placement) 402 3.4
300
(VoIP)
“ ”
Convergence Lifestyle
UBCAF3 3
2549 ( )
(International Internet Gateway)
(“ .”)
(www.truelife.com)
First Free hi-speed Music Download
Cafe in Thailand
2549 10
“08” “0”
2549 G-SQUARE ( 55)
2549 465
7
( ) ( 56-1)
TRUETE: 19
2549
:
“ ” 7
200
3,000
( )
“ ” Telecom Man of The Year 2006
( )
2006 (PRIEW Award 2006)
( ) 1 10 6
“ ” (Best Competitive Carrier 2006)
(Telecomasia Magazine Award 2006) .
3
(Best Competitive Carrier)
2541
( ) ( 56-1)
TRUETE: 20
“ 2006” “Tax man of the Year 2006” Tax
Research Center Tax & Business
“
”
22 (APOSHO-22)
3
1. (Wireline)
2. (Wireless)
3. (Pay - TV)
()
( 5
6-1)
TRU
ETE:
21
31
254
9
2.6
()
93.
27 %
93.3
0 %
93.3
1 %
99.9
9 %
() 9
1.79
%
( (
))
91.
79 %
91.
79 %
() 9
0.89
%
( (
))
89.
19 %
46.
81 %
99.9
4 %
()
99.
94 %
()
()
91.
08 %
()
91.0
8 %
99.
99 %
65.
00 %
99.
99 %
70.
00 %
40.0
0 %
56.9
3 %
37.
83 %
99.
99 %
()
(PC
T)
99.
99 %
9
9.99
%
99.
99 %
()
87.
50 %
99.
99 %
()
93.3
6 %
K.I.
N. (
Thai
land
) Co.
, Ltd
. 99
.99
%
Nilu
bon
Co.
, Ltd
. <B
VI>
99.
99 %
91.
08 %
99.
99 %
15.
76 %
99.
99 %
99.
99 %
20.
00 %
()
9.6
2 %
70.
00 %
99.
99 %
99.
94 %
:
:
(9
9.99
%),
() (
89.9
9%),
(99.
99%
),
(59.
99%
), (9
3.30
%),
(91.
05%
),
(58.
10%
), (5
8.10
%),
(34.
39%
)
(91.
79%
), (9
1.79
%)
:
Tele
com
Inte
rnat
iona
l Chi
na C
o., L
td. (
99.9
9%),
TA O
rient
Tel
ecom
Inve
stm
ent C
o., L
td. (
99.9
9%),
Tele
com
Asi
a (C
hina
) Co.
, Ltd
. (99
.99%
)
K.I.
N. (
Thai
land
) Co.
, Ltd
. <B
VI>
(99.
99%
), C
hong
qing
Com
mun
icat
ion
Equi
pmen
t Co.
, Ltd
. (38
.21%
), In
tern
atio
nal B
road
cast
ing
Cor
pora
tion
(Cam
bodi
a) C
o., L
td. (
64.2
5%)
()
( 5
6-1)
TRU
ETE:
22
()
99.9
9%
99.9
9%
99.9
9%
99.9
9 %
99.9
9 %
99.9
9 %
91.0
8%
89.9
9%
K.I.
N. (
Thai
land
) Co.
, Ltd
. (
)99
.99 %
99.9
9%
59.9
9 %
()
9.62
%
()
2.92
%
()
(
()
91.7
9 %
..
. ()
Nilu
bon
Co.
, Ltd
.
()
99.9
9%
()
()
( (
)
100.
00%
100.
00%
99.9
9%
99.9
9%
() (
()
99.3
4%
97.1
7 %
51.0
0 %
()
70.0
0 %
99.9
9%
Tele
com
Inte
rnat
iona
l C
hina
Co.
, Ltd
.
99.9
9 %
Tele
com
Asi
a
(Chi
na) C
o., L
td.
99.9
9%
TA O
rient
Tel
ecom
In
vest
men
t Co.
, Ltd
. 99
.99%
99.9
7%
62.5
0%
Cho
ngqi
ng C
omm
unic
atio
n Eq
uipm
ent C
o., L
td.
38.2
1%
96.5
0%
96.5
0%
59.3
0%
66.3
9%
99.9
4 %
()
99.9
4%
..
.
()
99.9
9%
99.9
9 %
(
)
99.9
9 %
99.9
9%
()
(99
.94%
99.9
9%
99.9
9%
87.5
0%
15.7
6 %
40.0
0%
()
99.9
9%
65.0
0%
70.0
0 %
99.9
3 %
99.9
4%
99.8
9%
99.9
3%
70.0
0%
20.0
0%
99.9
9%
31
254
9
()
93.3
6%
( ) ( 56-1)
TRUETE: 23
( ) ( 56-1)
TRUETF: 24
33..
3.1
( )
11
(
)
(
)
Convergence lifestyle “Better Together”
“ ”
Live, Learn, Work Play
2550 5 (
) ( Wireline) (
) ( ) ( )
5
3
Convergence
Lifestyle
2549 43 (
) (
WE PCT
) 41 16
( ) ( 56-1)
TRUETF: 25
1.
1800 (“ ”)
2556 93.3
25
16 2549 15 2554 (
20) 30
19.3 31 2549
Global System for Mobile Telecommunications GSM
1800 MHz
2545
1 3 2547
3 7.6
70 4.5 2549
93 7
( ) ( 56-1)
TRUETF: 26
( ):
31
2546 2547 2548 2549
-
-
1,539,735
285,255
2,927,818
452,565
4,009,470
449,173
7,031,289
546,453
1,824,990 3,380,383 4,458,643 7,577,742
36.6% 85.2% 31.9% 69.9%
508 437 393 292
368 348 321 250
1,016 1,030 911 772
Pre Pay
Pre Pay
‘over-the-air’
‘over-the-air’
100,000
over-the-air
SMS
2549
( ) ( 56-1)
TRUETF: 27
Post Pay
Post Pay
199 1,300
Non-voice
(Voice Services)
Non-voice
Non-voice
www.trueworld.net Non-voice
Non-voice
-
GPRS
2549 Non-voice 9.6
7.6 2548
( ) GPRS 57, 33 10
Non-voice
( ) ( 56-1)
TRUETF: 28
Non-voice :
SMS:
VoiceSMS:
Voicemail:
MMS:
GPRS: GSM
WAP based -
Push e-mail ( )
Multimedia Content:
(
)
Mobile Chat: - WAP based
Mobile Web: Wi-Fi
Ring-back Tone:
O2 -
(International Roaming)
(Inbound)
(Outbound)
( ) ( 56-1)
TRUETF: 29
3
2549
92
8
2549
2549
Unlimited 799
3
43 2548
-
( )
All Together Bonus
2547
Voice SMS
( IRemix) ‘over-the-air’
EDGE (Enhanced Data rates for GSM Evolution)
2549
WiFi
( ) ( 56-1)
TRUETF: 30
:
-
Wi-Fi
SMS (
)
2.
WE PCT
2.1
58 2
2.6
2534 ( )
2
25 6
84 2 79
6
( ) ( 56-1)
TRUETF: 31
82
76.5
(Voice over
Internet Protocol VoIP)
( )
(International Direct Dialing –
IDD) ( .)
31 2549
1,976,965 1,353,331
623,634
:
31
2546 2547 2548 2549
1,962,074 1,944,521 1,989,664 1,976,965
(Blended ARPU) 542 538 493 414
20,000 2540
2545 6,000
26,000
(Voice Mailbox) (Call Waiting)
3 (Conference Call) (Call Forwarding)
(Hot Line) (Abbreviated Dialing)
(Automatic Call Repetition) (Outgoing Call
Barring)
Caller ID
( ) ( 56-1)
TRUETF: 32
(Direct Inward Dialing “DID”)
(Operator)
(Hunting Line)
(Integrated Service Digital Network: ISDN)
-
1
Televoting
5
1-800 (Free Phone 1-800)
1800
6
(Voice Conference)
(Voice over Internet Protocol VoIP)
NetTalk by True 2549
.
( ) ( 56-1)
TRUETF: 33
170,000 4,200
( 3 – 4 )
2.2 (Consumer Broadband)
80
(ADSL)
2 Cable Modem DSL 10 Mbps ( VDSL)
Pre Wimax WiFi
( 90.5)
Cable Modem DSL
( )
20 2560
2549
442,728 2548 47
( ):
31
2546 2547 2548 2549
11,611 164,775 300,322 442,728
(ARPU) 3,334 1,051 739 721
( ) ( 56-1)
TRUETF: 34
ADSL
( 4 Mbps)
ADSL
ADSL2+, G.SHDSL Gigabit Ethernet NGN (Next
Generation Network) IP
Trueworld.net
e-Book
IPTV White Net (
) Norton
Anti-Virus ( )
2546 MKSC
Wi-Fi (Wireless Fidelity) 31 2549
3,000
2548 VDSL (Very High-Speed Digital Subscriber
Line) 6 Mbps – 10 Mbps
SME
2548 Pre Pay hi-speed Internet -
4
0.24
( ) ( 56-1)
TRUETF: 35
2549
True Knowledge Junior Package
Outdoor Wi-Fi zone
Wi-Fi
(Hotspot)
Pre WiMax
Wi-Fi Router
www.weloveshopping.com
WiFi
“Play” Dial-up
-
(True Coffee Card) 50%
3 ( 2550)
( Content Application)
(1) (“AI”) 65
( ) ( 56-1)
TRUETF: 36
(2) "True Internet" 99.99
2548 .
1 1 18 2549
1 2550
.
2551
1 ( KSC
)
Internet Data Center
2549 .
(International Internet Gateway)
2550
:
31 /1
2546 2547 2548 2549
652,726 1,231,344 716,7032/ 849,007 1/ KSC 2/ Dial-up
Dial-up
2.3
(Outsourced Data Network Management Service)
(Cisco) IP
( ) ( 56-1)
TRUETF: 37
2549
(Digital Data Network DDN) 12,033
17.8 2548
( ):
31 DDN
2546 2547 2548 2549
7,835 9,001 10,216 12,033
(ARPU) 16,591 11,014 10,411 11,106
DDN (Digital Data Network) Leased Line
2
64
Kbps 140 Mbps
IP Access Service (“IPAS”) “Megaport”
Megaport
(ISPs) Virtual
Private Network service (“VPN”)
(Trunking Access)
30 30
Metronet Fiber-to-the-building
Network Configuration
Bandwidth Capacity Metronet
( ) ( 56-1)
TRUETF: 38
512 Kbps 1 Gbps
Network Manager
(
)
Mail Fax -
MPLS VPN (Multiprotocol Label-Switching Virtual Private Networks)
WAN (Wide
Area Network) IP
(Internet Protocal)
Frame Relay
2.4 (Personal Communication Telephone – WE PCT)
WE PCT
9 1
WE PCT
WE PCT
(“AWC”) ( 99.99)
2542
82 AWC
PCT
70 AWC PCT
PCT
( ) ( 56-1)
TRUETF: 39
PCT
80
WE PCT 2,500
2547 WE PCT
PCT 2549 WE PCT 347,099
2548 26
WE PCT :
31 WE PCT
2546 2547 2548 2549
549,295 472,846 469,125 347,099 1/ 282 268 318 257
1/ PCT Buddy
3.
( )
coaxial
. . 2541 ( )
( ) 25
( ) 30
2557 31 2562
(DStv) Ku-band
MPEGII
5
MMDS
1
( ) ( 56-1)
TRUETF: 40
(Catv)
coaxial (
) 800,000
2549
91.8
2549 558,860 629,269 ( )
30 2548
( ):
31
2546 2547 2548 2549
-
-
138,212
296,603
140,998
316,544
133,055
350,761
133,977
424,883
434,815 457,542 483,816 558,860
(ARPU) 1,254 1,301 1,291 1,217
( HBO, Cinemax, Star Movies, Hallmark) (
ESPN, Star Sport SuperSport, SuperSport Action Sport+)
( Historical Channel, Discovery Channel, National Geographic) ( CNN,
CNBC, Bloomberg, BBC World) ( )
(Free TV)
( ) ( 56-1)
TRUETF: 41
4 Platinum, Gold,
Silver, True Knowledge Bronze
Platinum 76
6 15 2,000
Gold 67 6
15 1,413
Silver 56 6
15 750
True Knowledge Bronze 46
6 15 340
2549
3 (AF3)
2549
2549 :
True Knowledge (Bronze) Package
40
-
2549
-
( )
26
3
( ) ( 56-1)
TRUETF: 42
ESPN Star Sports
Explore 1 Explore 2 Explore 3
‘ ’ Interactive
G2 24
AF3
( “ ”)
4.
/
(
)
WE PCT Buddy Fund Card
Wi-Fi True World
True e-book
2548
2546
510 15
/
( ) ( 56-1)
TRUETF: 43
( )
2549
30,000
-
-
850,000
Convergence Lifestyle
5.
3
( )
( ) ( 56-1)
TRUETF: 44
2 Trueworld.net
Truelife.com
Trueworld.net 4
300,000 Truelife.com 2549
NC True
NC Soft
“Lineage II” 2548 “ ” 2549
2549
“Special Force”
1.5 Casual
2549
2549
( )
Full Song Download
Trueworld.net
4
SMS
Trueworld.net 3
24 (
)
( ) ( 56-1)
TRUETF: 45
“ ”
Interactive Music
G2 24
2549
- ( ), Unlimited 799 (
) ( )
3 ( )
3.2
Solution
Live,
Learn, Work Play
“ ”
3.3
3 SME
one-stop shopping
ADSL
Dealer Shop
(Tele Ordering)
(Account Executive/ Account Manager)
( ) ( 56-1)
TRUETF: 46
SME
‘over-the-air’
( )
over-the-air 100,000 2549
3.4
3
2549
92
8
Siemens
Alcatel Lucent NEC Huawei
( ) ( 56-1)
TRUETF: 47
Verizon Communications, Inc (Verizon) Orange SA
MIH
3.5
(International Telecommunications Union
ITU) 7.9
2544 40 2549 100
60 2549 ( 45.5 25498)
2548
118.5%
96.3%
79.9%
76.3%
46.9%
48.5%
30.2%
22.0%
: BMI Research “Thailand Telecommunications Report Q2 2006”
( ) ( 56-1)
TRUETF: 48
( ) AIS DPC
( ) ( ) DTAC
( “Hutch”) Thai Mobile ( –
) 2 AIS ( DPC
) DTAC 49.6 31.1 2549
3 19.3
( 15.1 2548)
4 :
31
2546 2547 2548 2549
(AIS) 13,239,200 15,184,000 16,408,900 19,521,500
(DTAC) 6,550,496 7,786,165 8,676,940 12,225,498
(True Move) 1,824,990 3,380,383 4,458,643 7,577,742 1/ 21,614,686 26,350,548 29,544,483 39,324,740
8.4% 12.8% 15.1% 19.3%
: Website
: 1/
2545 – 2548
Non-voice
2548 - 2549
( ) ( 56-1)
TRUETF: 49
ARPU 10 2548 26
2549
12.8 2547 15.1 2548 19.3 2549
1 3 2547
2549 7,577,742 70 2548
2548 10
5.9
2544 6.7 2548 3 2549
12,699 1,989,664
: 31 2548
31 2548
1 1,441,922 2,002,283 3,444,205 2 1,989,664 - 1,989,664
3 - 1,236,899 1,236,899 4 3,431,586 3,239,182 6,670,768
1 : 2 : 3 : 25484 : 2548
3
2
( )
( ) ( 56-1)
TRUETF: 50
2548 58
VoIP
VoIP
. VoIP
.
1 2546
2547
6
2549
Caller ID
15 - 20
ADSL
( UCOM)
( ) ( 56-1)
TRUETF: 51
( ADC)
(
) (
)
2546
2547
2548
MPLS VPN
WAN (Wide Area Network)
2549
(Cisco) IP
( )
3 ( 74)
( 51) ( : ITU World Telecommunication Indicators Database, 2005)
( )
( )
(UBT) UCOM
( Q-Net) Samart, CS Loxinfo, TOT, TT&T, ADC
3,708 2545
442,728 2548
( ) ( 56-1)
TRUETF: 52
80
( )
( )
2 – 3
10
2549 15
2548
71.0%
62.2%
70.0%
64.1%
55.0%
15.9%
: BMI Research “Thailand Telecommunications Report Q2 2006”
2548 .
2549
.
( ) ( 56-1)
TRUETF: 53
( )
Dial Up 7-9
500
170,000 4,200
( 3 – 4 )
(AI)
2547
2549
1
KSC ( KSC
40) CS Loxinfo Internet Thailand
2549 2
12
( 31) ( 40) ( 48) ( 52)
( .)
2 2539
78
450
1.5 - 2.0
( ) ( 56-1)
TRUETF: 54
2-3
HBO
. . 2548
( ) ( 56-1)
TRUETF: 55
WTO
2549
2
. . 2543
2543 . . 2544
2544
2547 .
[ ( )
( )]
[ ( ) ]
.
. 6
3 . 3
. 2548 .
1. .
2. .
3
3. .
4. .
9 10
5. .
. . 2549
( ) ( 56-1)
TRUETF: 56
6. . . .
2549
7. .
8. . . . 2549
9. .
. . 2549
.
-
.
.
-
.
.
.
-
.
.
( ) ( 56-1)
TRUETF: 57
2548 .
- 5,000 20,000
- ( ) 10,000
25,000
- ( ) 25,000 250,000
- 500,000 3
500,000
.
2548 2548
.
2549 .
(International Internet Exchange) 2550
.
(International Direct Dialing – IDD)
2549 .
( 2)
.
12 24
120
120 1 .
( ) ( 56-1)
TRUETF: 58
1 2549
.
9 10
(Universal Service Obligation USO) .
4
2
2549 .
. . 2549
(Reference Interconnection
Offers – RIOs)
15 17
2549 .
(Cost Oriented basis) long run
incremental cost 90
17
2549 16 2550
.
80 . . 2544
( ) ( 56-1)
TRUETF: 59
2549 .
. . 2549
(Antitrust) (cross-
subsidization)
( )
2549 .
. . 2549
2
(Rate of Return) (Price Cap)
.
(Price Cap)
.
2549 .
.
( ) ( 56-1)
TRUETF: 60
2549 .
7 30
10
14 .
3
.
2549 .
. . 2549
. 60 30
.
60
( ) ( 56-1)
TRUETF: 61
2549 .
3
50
1.
2.
3.
3.1 1 2
1 2
3.2
1
( ) ( 56-1)
TRUETF: 62
4. 1
2 3 1 2 3
1
2
3
. . 2544
2544 2 3
.
.
. (Watch list)
(Priority Watch List)
.
2550
. . 2542 “ ”
1 1 2
2 3
90
1
( ) ( 56-1)
TRUETF: 63
.
( .)
.
2549 .
. .
. . 2540
(International Telecommunication
Union – ITU) . . 2540
2549
.
/ .
/
.
. (
. )
.
(
.
. )
. .
.
( ) ( 56-1)
TRUETF: 64
31 2545 14 2546
( ) ( 56-1)
TRUETG: 65
44..
/
3
3
2549 126,066.84
2548 25,010.33
2547 29,900.71
( ) ( 56-1)
TRUETH: 66
55..
5.1
2
2.6 PCT
31 2549
( )
1,848 1,848
859 859
16,051 14,254
42,922 1,055
434 383
2,453 -
149 148
6,034 -
937 39
71,687 18,586
19,536
15,809
(
)
31 2549
( ) ( 56-1)
TRUETH: 67
( )
548 -
1,129 69
1,098 200
1,841 -
1,307 330
306 19
6,229 618
5.2
31 2549
13,107
( ) (“True Visions”) 12,065
( ) (“BITCO”) 690
(“MKSC”) 352
31 2549
2,297
31 2549
52
( ) ( 56-1)
TRUETH: 68
( )
31 2549 138
31 2549 344
BITCO 31 2549 220
(“TH”) ( ) (“BITCO”)
99.99 93.36 TH (Holding
Company) /
TH
/
TH BITCO
(Holding Company)
/
( ) ( 56-1)
TRUETI: 69
66..
2550 10,000
2549
1. ( )
2550
8
92 2549
1 3
(non-voice service)
2550 5-6
(Retail Distribution Center)
150
2.
( Wireline) 2550
2-3 2549
.
2.1
(
. 2
( ) ( 56-1)
TRUETI: 70
2.2
(Broadband) 600,000 2549
800,000 5,000 1
2.3
200
2.4 (International Internet
gateway and Internet exchange)
(TIG) ( )
2548 TIG .
(International Internet Gateway) 2
2550 . TIG
2550 200-300
2.5 (International Direct Dialing - IDD)
. . 2550 .
(IDD) 3 2550
200-300 2550
2.6 (Product Bundling)
(Product
Bundling)
( ) ( 56-1)
TRUETI: 71
3,000 1
Brand
3. ( )
( )
(Digital Video Recorder)
(On Demand)
3,000 1
2550 800-900
( ) ( 56-1)
TRUETJ: 72
77..
5 31 2549
1)
1.1) Y-Tel 1234 11 2544
1,197.63
“Y-Tel 1234”
28 2548
28 2548
1.2)
22 2546
43.94 8 2548
18 2549
1.3)
23 2547
433.85 12
2549 150
7.5
90 / /
( ) ( 56-1)
TRUETJ: 73
6 2549
2)
2.1)
22 2546
43.94 8 2548
14 2548
2.2) 21 2545
17
2549
1.
2. 22 2545
9,175.82 7.5
22 2545
60
3. 23 2545
50
( ) ( 56-1)
TRUETJ: 74
20 2549
28 2549
1)
1.1)
28 2548
5,000.00
3,407.68
6 2549
2550
1.2) 38. 15 2549
17 2549
8 2549
. 38.
1
2 6 2549
2550
2)
2.1)
13 2547
4 2544
( ) ( 56-1)
TRUETJ: 75
2547 785.64 11
2548 106.80
1,030.50 A4
6 2549
2550
2.2) TA 1234 30
2548 16
2543 2548 15,804.18
TA 1234
4 2549 24 2549
8 2549
2550
2.3) ADSL 28 2548
(ADSL)
2,010.21
180.00
ADSL 21 2549 24 2549
6 2549
2550
2.4) 31
2548
6,720,093.56 19 2548
7 2549 6
2549 2550
1. 3
( ) 29 2549
3
( ) ( 56-1)
TRUETJ: 76
13 2549
15 2549
2.
2
2549 11 2549
3.
Alcatel
Bill of Quantity (BOQ) Digital GSM 1800
( ) ( 56-1)
TRUETK: 77
88..
8.1
( )
31 2549 47,134,724,910
4,014,105,645 10
699,366,846 10 45,015,277,360
3,802,160,890 10
699,366,846 10
(“
”)
( )
1/2543 14 2543
702 Kreditanstalt fÜr Wiederaufbau (“KfW”) /
KfW /
150
30 2543 343.98
49 KfW 358.02 51
(Thai Trust Fund)
1. 8
(1) 1
( 8 )
(2) 1 (1)
(“ ”)
( ) ( 56-1)
TRUETK: 78
(3)
(4)
(5)
2. 8
(1) 0.01
( )
(2) 0.01 2 (1)
(3) 1 (3) (4) (5)
KfW (Purchase Rights) KfW
1 1
2 KfW 3 8
KfW
20
31 2549 699.36
( KfW) 357.99 KfW
341.37
( ) (NDVR: Non-Voting Depository Receipt)
NVDR
“ ” (Thai NVDR Company Limited)
NVDR (Automatic List)
NVDR
( ) ( 56-1)
TRUETK: 79
23 2550
287,823,157 6.39
( ) (Warrant)
1)
(ESOP 2000)
2)
(ESOP 2002)
3)
(ESOP 2003)
4)
(ESOP 2004)
5)
(ESOP 2005)
6)
(ESOP 2006)
( ) ( 56-1)
TRUETK: 80
1) ESOP 2000
2543 27 2543
35
(“ESOP 2000”) :
: 36,995,000
: 9 2543
: 10
: 9 2553
: ( ) 1
3
1 3
30 2543 2544
2545
: ( ) 2
3
1 3
31 2543 2544
2545
: 1 1
10.60
( ) ( 56-1)
TRUETK: 81
2) ESOP 2002
2545 12 2545
35 (“ESOP 2002”) :
: 37,131,597
: 14 2545
: 5
: 13 2550
: 3
1 3
1
14 2546
2
14 2547
3
14 2548
: 1 1
10.60
( ) ( 56-1)
TRUETK: 82
3) ESOP 2003
2546 11 2546
35 (“ESOP 2003”) :
: 12,832,207
( 31 2549)
: 17 2546
: 5
: 16 2551
:
3 1 3
1
17 2547
2
17 2548
3
17 2549
: 1 1
5.20
( ) ( 56-1)
TRUETK: 83
4) ESOP 2004
2/2547 10 2547
35 (“ESOP 2004”) :
: 18,274,444
: 7 2548
: 5
: 6 2553
: 3
1 3
1
7 2549
2
7 2550
3
7 2551
: 1 1
11.20
( ) ( 56-1)
TRUETK: 84
5) ESOP 2005
1/2548 15 2548
(“ESOP 2005”) :
: 18,774,429
: 28 2549
: 5
: 27 2554
: 3
1 3
1
13 2549
2
13 2550
3
13 2551
: 1 1
9.73
( ) ( 56-1)
TRUETK: 85
6) ESOP 2006
2549 11 2549
(“ESOP 2006”) :
: 36,051,007
: 31 2550
: 5
: 30 2555
: 3
1 3
1
2550
2
2551
3
2552
: 1 1
10.19
( ) ( 56-1)
TRUETK: 86
( ) Shareholders Agreement
Shareholders Agreement 22 2542
Kreditanstalt für Wiederaufbau (“KfW”) ( )
(“Verizon”)
( ) ( )
(Shareholders Agreement) 22 2542
1. KfW (Debt
Restructuring Agreement) KfW
KfW
1 KfW
5
2. 3 KfW KfW
KfW 5
KfW
(1)
(2)
(3)
(4)
(5)
(6) (
(Debt Restructuring Agreement))
( ) ( 56-1)
TRUETK: 87
3. KfW
KfW 25
3
KfW KfW
KfW
4. 3 KfW
( KfW)
10
5. Verizon
23 2535 KfW
6.
7.
50
( )
1)
Kreditanstalt für Wiederaufbau (KfW)
150
702 KfW
KfW
699.36
( ) ( 56-1)
TRUETK: 88
2) ESOP 2000
2543 27 2543
2543 (ESOP 2000)
58,150,000
35
58,150,000
3) ESOP 2002
2545 12 2545
35
37,131,597
37,131,597
4) ESOP 2003
2546 11 2546
35
19,862,729
19,862,729
5) ESOP 2004
3/2547 23 2547
35
19,111,159 (
2/2547 10 2547)
19,111,159
( ) ( 56-1)
TRUETK: 89
6) ESOP 2005
1/2548 15 2548
18,774,429
18,774,429
7) ESOP 2006
2549 11 2549
36,051,007
36,051,007
8) IFC
2549 (
1/2548 ) 29,894,356
International Finance Corporation (“IFC”) IFC
C Loan IFC
( ) ( 56-1)
TRUETK: 90
8.2
( )1
23 2550 ( 2550)
( )
2
1. 3 1,368.64 30.40
2. 4 357.99 7.95
3. KREDITANSTALT FÜR WIEDERAUFBAU (“KfW”) 5 341.37 7.58
4. 6 287.82 6.39
5. STATE STREET BANK AND TRUST COMPANY 7 161.69 3.59
6. MORGAN STANLEY & CO INTERNATIONAL LIMITED 8 155.27 3.45
7. CHASE C.S. CENTRAL NOMINEES LIMITED 8 137.83 3.06
8. STATE STREET BANK AND TRUST COMPANY
FOR AUSTRALIA 9114.39 2.54
9. SOMERS (U.K.) LIMITED 8 86.46 1.92
10. HSBC (SINGAPORE) NOMINEES PTE LTD 10 84.67 1.88
1
2 3 1) 2) ( . (“CPG”) 99.99%
3) ( ) ( . 258 CPG 35.28%) 4) ( ) ( . 99.44%) 5) ( ) ( . 99.90%) 6) ( ) ( . 99.61%) 7) ( . 99.99%) 8) - ( .
99.99%) 9) ( . 29.00% 258 CPG 58.94%)10) ( . 29.00% 258 CPG 41.45%) 11)
. . ( ) ( . 99.99%) 12) ( .99.99%) 13) ( . 99.99%) 14) Golden Tower Trading Ltd. (
CPG Golden Tower Trading Ltd. True CPG )
4 Thai Trust Fund (Thai Trust Fund Management Company Limited)
23 2550 KfW 7.95
5 100% 6 NVDR (Automatic List)
NVDR 7
8
9
10
( ) ( 56-1)
TRUETK: 91
8.3
50
8.4
31 2549
113,367
( : )
776
11,775
8,838
2,608
5,724
2,512
32,233
80,108
184
842
81,134
113,367
( ) ( 56-1)
TRUETK: 92
31 2549 (
1 1 ) 89,906
(“ ”)
52,839 (“ ”) 33,636 (
928 ) (“ ”) 3,431
( 11,219 )
22 2542 31 2549
2,000
2544
532
2544 28 2544
1/2544
36,000 (“ ”) 20
2544
368
2544
(“Swap”) KfW (
) 97
4,483
( ) ( 56-1)
TRUETK: 93
2544 5,000 (“ ”)
2545 948
2545
345
31 2545
KfW Swap
( “ ”) IFC
C Loan 2/2545
1/2545
2545 15 2545 2
1/2545 2/2545 18,465
17 2545 IFC
1,125 19,590
452
1/2545
2/2545
2545
10.1 3.6
2546 18 2546 1
1/2546 3,319
78
1/2546
( ) ( 56-1)
TRUETK: 94
2546 21,419
2547
331 120
2547 25 2547 1
1/2547 2,413
SWAP 51
1/2547
2547
190 74
2548
1,336 491
2549 1/2545
1,787
(Prepayment)
(Inverse Chronological Order)
(Pro-rata)
68.3 2543 41.2 31 2549
( ) ( 56-1)
TRUETK: 95
:
1/2544 28 2544
36,000 20
1) 1/2545
. . 2551 11,715,400
1,000 11,715,400,000
2)
2/2545 . . 2554 6,750,000
1,000 6,750,000,000
3) 1/2546 . .
2550 3,319,000 1,000
3,319,000,000
32,27138,252
23,826
32,152
56,37962,453
74,651
84,190
52,839
37,65732,253
35,13425,242
33,63616,091 16,239 11,376
11,581
3,431
6,664
3,153
7,000
5,624
8,205
4,010
4,729
6,591
0
20,000
40,000
60,000
80,000
100,000
2541 2542 2543 2544 2545 2546 2547 2548 2549
73,634 73,379
78,71075,051 76,520 77,187
86,044
:
95,200 89,906
( ) ( 56-1)
TRUETK: 96
4) 1/2547
. . 2554 2,413,000 1,000
2,413,000,000
28 2544 1/2544
36,000 20
1. 1/2545
. . 2551
1) :
( )
1/2545 . . 2551
2) :
3) : 11,715,400
11,715,400,000
( )
4) : 1,000 ( )
5) : 1,000 ( )
6) : 15 . . 2545
7) : 7 . . 2551
( ) ( 56-1)
TRUETK: 97
8) :
9) :
7 . . 2546
(1)
( : )
(1)
7 . . 2546 5.00
7 . . 2546 8.00
7 . . 2546 8.00
7 . . 2546 10.00
7 . . 2547 10.00
7 . . 2547 16.00
7 . . 2547 16.00
7 . . 2547 19.00
7 . . 2548 19.00
7 . . 2548 19.00
7 . . 2548 45.00
7 . . 2548 45.00
7 . . 2549 55.00
7 . . 2549 55.00
7 . . 2549 60.00
7 . . 2549 60.00
7 . . 2550 70.00
7 . . 2550 70.00
7 . . 2550 70.00
7 . . 2550 70.00
( ) ( 56-1)
TRUETK: 98
(1)
7 . . 2551 90.00
7 . . 2551 90.00
7 . . 2551 90.00
10) : 6.1
(3) 7 7
7 7
7 . . 2546
(365)
11) :
(1)
12) :
13) :
(1)
( )
(0.5)
(1)
( ) ( 56-1)
TRUETK: 99
(25)
14) :
(
Conditional Assignment of Concession)
(
(60)
)
(7)
( )
( )
(14)
15) :
25 . . 2549
( ) ( 56-1)
TRUETK: 100
BBB
2.
2/2545 . . 2554
1) :
( ) 2/2545
. . 2554
2) :
3) : 6,750,000 6,750,000,000
( )
4) : 1,000 ( )
5) : 1,000 ( )
6) : 15 . . 2545
7) : 3 . . 2554
8) :
9) :
3 . . 2552
( ) ( 56-1)
TRUETK: 101
(1)
( : )
(1)
3 . . 2552 160.00
3 . . 2553 160.00
3 . . 2553 160.00
3 . . 2553 160.00
3 . . 2553 180.00
3 . . 2554 180.00
10) : MLR
(3) 3
3 3 3
3 . . 2546
(365) MLR
Minimum Lending Rate
( )
( ) ( )
( ) (3)
(4)
( ) ( 56-1)
TRUETK: 102
11) :
(1)
12) :
13) :
(1)
( )
(0.5)
(1)
(25)
14) :
(Conditional
Assignment of Concession)
( ) ( 56-1)
TRUETK: 103
( )
(50)
(
(60)
)
(7)
( )
( )
(14)
15) :
25
. . 2549
A
( ) ( 56-1)
TRUETK: 104
3. 1/2546 . . 2550
1) :
( ) 1/2546
. . 2550
2) :
3) : 3,319,000 3,319,000,000
( )
4) : 1,000 ( )
5) : 1,000 ( )
6) : 18 . . 2546
7) : 7 . . 2550
8) :
9) :
7 . . 2548
( ) ( 56-1)
TRUETK: 105
(1)
( : )
(1)
7 . . 2548 12.5
7 . . 2548 12.5
7 . . 2548 97.5
7 . . 2548 97.5
7 . . 2549 97.5
7 . . 2549 97.5
7 . . 2549 97.5
7 . . 2549 97.5
7 . . 2550 97.5
7 . . 2550 97.5
7 . . 2550 97.5
7 . . 2550 97.5
10) : 5.8
(3) 7
7 7 7
7 . . 2546
(365)
( ) ( 56-1)
TRUETK: 106
11) :
(1)
12) :
13) :
(Conditional
Assignment of Concession)
(7)
( )
( )
(14)
( ) ( 56-1)
TRUETK: 107
14) :
25 . . 2549
BBB
4. 1/2547 . . 2554
1) :
( ) 1/2547
. . 2554
2) :
3) : 2,413,000 2,413,000,000
( )
4) : 1,000 ( )
5) : 1,000 ( )
6) : 25 . . 2547
7) : 7 . . 2554
8) :
( ) ( 56-1)
TRUETK: 108
9) :
7 . . 2551
(1)
( : )
(1)
7 2551 83.33
7 2552 83.33
7 2552 83.33
7 2552 83.33
7 2552 83.33
7 2553 83.33
7 2553 83.33
7 2553 83.33
7 2553 83.33
7 2554 83.33
7 2554 83.33
7 2554 83.37
( ) ( 56-1)
TRUETK: 109
10) : 6.8
(3) 7
7 7 7
7 . .2547
(365)
11) :
(1)
12) :
13) :
(Conditional Assignment of Concession)
( ) ( 56-1)
TRUETK: 110
(7)
( )
( )
(14)
14) :
25 . . 2549
BBB
()
( 5
6-1)
TRU
ETL:
11
1
99 .. 9.1
()
/
/ /
( ) ( 56-1)
TRUETL: 112
.
.
1)
2)
3)
4)
5)
.
.
5
31 2549
18
(1) (Executive Directors) 4
(2) (Non-Executive Directors) 14
- (Independent Directors) 4
-
10
-
( ) ( 56-1)
TRUETL: 113
- 5
258
. . 2535
-
-
-
( 31 2549)
1.
2.
3. .
4.
5.
6.
7. .
8.
9.
10.
11.
12.
– Group Investment
13.
14.
15.
16.
17.
18. . .
( ) ( 56-1)
TRUETL: 114
2549 7
/ * ( )
1. 4/7
2. 5/7
3. . 7/7
4. 6/7
5. 3/7
6. 1/7
7. . 7/7
8. 7/7
9. 7/7
10. 7/7
11. 1/7
12. 4/7
13. 7/7
14. 7/7
15. 3/7
16. 7/7
( ) ( 56-1)
TRUETL: 115
/ * ( )
17. 5/7
18. . . 6/7
* “ / ”
2549
2549
(IOD)
( . . .)
2550
( ) ( 56-1)
TRUETL: 116
.
1)
3
1.
2. .
3.
1.
2. (Internal Control)
(Internal Audit)
3.
4.
5.
6.
7.
2549 6
/ * ( )
1. 6/6
2. . 6/6
3. 6/6
* “ / ”
2549
2549
( ) ( 56-1)
TRUETL: 117
2)
1.
2.
3. KfW
4.
5.
3)
1.
2.
3.
4.
2549 1
/ *( )
1. 0/1 2. 1/1 3. 1/1 4. 1/1
* “ / ”
2549
2549
( ) ( 56-1)
TRUETL: 118
4)
1. .
2.
3. (
)
4.
2549 6
/ *
( )
1. . 5/6
2. 6/6
3. 4/6
4. 4/6
* “ / ”
2549
2549
5)
1.
2.
3. .
4.
5.
6. .
( ) ( 56-1)
TRUETL: 119
2549 2
/ *( )
1. 2/2 2. 1/2 3. . 2/2 4. 2/2 5. 1/2 6. . ** 0/2**
* “ / ”
2549
2549
** .
17 2549
2549
.
31 2549
1.
2.
3. - Group Investment
4.
5.
6. - Home/Consumer Solution & Highspeed Access
7. - Office/SME Solution & Wireless Access
8. - Corporate Solution, Wholesales & Data
: “ ”
( ) ( 56-1)
TRUETL: 120
(day to day business) /
/ /
/ /
/
/
/ / ( )
9.2
(1)
(1.1)
– 2549 18
32,400,000
( / ) ( / ) 1
--
3,600,0003,600,000
7,200,000 2
-, .
2,400,000
7,200,000
( ) ( 56-1)
TRUETL: 121
( / ) ( / ) 3
- ,. ,
1,800,000
7,200,000 4
- ,, ,
, ,, ,
. .
1,200,000
10,800,000 32,400,000
(1.2)
– 2549 8
109.12 85.20 /
19.48 4.44
(2)
/ ( ESOP) 5
(2.1) ESOP 2005
(2.2) ESOP 2004
(2.3) ESOP 2003
(2.4) ESOP 2002
(2.5) ESOP 2000
ESOP 2006
2549 . . .
ESOP 2006 31 2550
ESOP 5
(Warrant)
( ) ( 56-1)
TRUETL: 122
ESOP
ESOP 2005 ESOP 2004 ESOP 2003 ESOP 2002 ESOP 2000
1. . - - - - - - - - 2,240,000 6.06
2. - - - - - - - - 4,130,000 11.16
3. 1,900,000 10.12 2,434,077 12.74 3,696,402 18.61 7,058,824 19.01 6,510,000 17.60
4. 1,000,000 5.33 1,277,890 6.69 1,617,176 8.14 3,088,235 8.32 2,800,000 7.57
5. 350,000 1.86 1,277,890 6.69 1,940,611 9.77 3,705,882 9.98 4,130,000 11.16
6. 1,200,000 6.39 1,331,136 6.97 2,021,470 10.18 3,860,294 10.40 5,320,000 14.38
7. 1,000,000 5.33 1,277,890 6.69 1,297,838 6.53 3,000,000 8.08 945,000 2.55
8. 1,000,000 5.33 1,277,890 6.69 850,404 4.28 1,503,662 4.05 - -
9. 1,000,000 5.33 1,277,890 6.69 - - - - - -
10. 1,000,000 5.33 1,277,890 6.69 - - - - - -
9.3
2549
2549 15
2545
The Organisation for Economic Co-operation and Development (OECD Principles of Corporate
Governance 2004) Corporate Governance -
Reports on the Observance of Standards and Codes (CG-ROSC)
(Corporate Governance Committee)
.
. CEO
( ) ( 56-1)
TRUETL: 123
1
1.
2549
2. 2549 1
2549 11 2549
3.
Website 24 2549
4.
(“IR”) 0-2699-2515
0-2643-0076
5.
( ) ( 56-1)
TRUETL: 124
2
1.
2.
3.
2550
1 2549 31 2550
Website
4.
5.
( ) ( 56-1)
TRUETL: 125
6.
( . . .)
3
7. 2549
8.
/
(Independent Committee)
3
1.
(Stakeholders) Stakeholders
“
”
( ) ( 56-1)
TRUETL: 126
-
-
-
-
-
-
-
( )
-
-
-
-
-
-
-
-
-
-
-
( ) ( 56-1)
TRUETL: 127
-
2. (Internal Audit)
Internal Audit
3.
- :
True Shop True Move Shop
- Dropwire reuse : Drop Wire
- :
-
:
( ) ( 56-1)
TRUETL: 128
Home Solutions
-
60 :
- :
3
- :
WWF-Thailand
Digital Playground by True 3
“Our Sea We
Love” “Life On Our Planet”
- “
” :
- “ ” :
2538 12
7
2550
( ) ( 56-1)
TRUETL: 129
4
1.
website
Website
2.
website
3.
4.
. . .
5. 2549
2549 2541
2545
300,000
200,000
150,000
100,000
( ) ( 56-1)
TRUETL: 130
300,000
200,000
6. 2549
7.
56-1
8. “ ” “Investor Relations”
5
1.
1.1 (Executive Directors)
4 (Non-Executive Directors) 14
22
1.2
1.3 “ ”
( 56-1)
1.4
( 56-1)
website www.set.or.th website
www.truecorp.co.th
( ) ( 56-1)
TRUETL: 131
1.5
1.6
Non-Executive Director
1.7
2.
2.1
CEO
2.2
( ) ( 56-1)
TRUETL: 132
3.
3.1
3.2
1 2549
2549
3.3
3.4
3.5
1
3.6
Risk-based Audit Approach
BCP Steering Committee
Crisis Management Team
( ) ( 56-1)
TRUETL: 133
4.
4.1
4.2 2549 7
4.3 /
4.4
4.5
4.6
4.7
5.
5.1
2550
( ) ( 56-1)
TRUETL: 134
6.
6.1
(Accountability and Responsibility)
6.2
(
)
6.3
7.
7.1
7.2 2549
( ) ( 56-1)
TRUETL: 135
9.4
( . . .) 3
9.5
31 2549
( )
85
2,055
1,109
256
408
224
297
4,434
:
( ) ( 56-1)
TRUETL: 136
0-4
60
2549 2,600.30
( 31)
-
-
10 12 15
15
- 3 10
- 3 5 12
- 5 15
( ) ( 56-1)
TRUETL: 137
5 6 7
Datacommunication
and Networking, True Products & Services, Cisco Certified Network Associate (CCNA), Microsoft
Server
( ) ( 56-1)
TRUETM: 138
1010..
( ) ( 56-1)
TRUETN: 139
11.
2549
31 . .
2549 ( 11)
:
.
31
2549
( )
1.
1.1 (BITCO)
(CPG)
23,988 CPG
BITCO
78.26
15.10
BITCO
1.2
(CPG)
5,957 CPG
1.3
WIFI
(AI)
101 AI
65.00
1.4
1
(TIDC)
6 TIDC
70.00
( ) ( 56-1)
TRUETN: 140
31
2549
( )
1.5
1
(CPG)
94 CPG
30,146
2.
2.1 (TM)
(AI)
14,708 TM AI
91.08 65.00
TM
2.2 (TM)
(KSC)
7,589 TM KSC
91.08 37.83
TM
2.3 (TM)
(CPG)
28,380 CPG
TM
91.08 TM
2.4 (TI)
(CPG)
8,808 CPG
TI
99.99 TI
2.5 (TI)
(KSC)
11,448 TI
99.99 KSC
37.83 TI
( ) ( 56-1)
TRUETN: 141
31
2549
( )
2.6 (TP)
(CPG)
9,149 CPG
TP
99.99 455
3
2.7 (TP)
(NC TRUE)
6,145 NC TRUE
40.00 TP
99.99 455
2.8 (TP)
(TIDC)
3,279 TP TIDC
99.99 70.00
455
2.9 (TLS)
(CPG)
607,525 CPG
TLS
99.99
15,000
3
2.10 (TIDC)
(NC TRUE)
3,069 NC TRUE
40.00 TIDC
70.00
54,000
1
( ) ( 56-1)
TRUETN: 142
31
2549
( )
2.11 ( ) (True Visions)
(CPG)
17,470 CPG
True Visions
91.79 True Visions
2.12 (BITCO)
(CPG)
6,674,047 1.1
BITCO
2.13
(AI)
2,001 1.3
2.14
( ) (NEC)
243 NEC
9.62
2.15
(CPG)
2,399 1.2
2.16
1
(AI)
1,102 AI
65.00
2.17
1
(TIDC)
535 1.4
( ) ( 56-1)
TRUETN: 143
31
2549
( )
2.18
1
(NC TRUE)
538 NC TRUE
40.00
2.19
1
(CPG)
1,026 1.5
7,399,461
3.
3.1 (AI)
(CPG)
4,063 CPG
AI
65.00
358,750.55
3.2 (AWC)
( ) (NEC)
16,110 NEC
9.62 AWC
99.99
3.3 (TI)
(CPG)
6,307 2.4
149,688
3.4 (TI)
Corporate internet services
(AI)
318,123 TI
99.99 AI
65.00
( ) ( 56-1)
TRUETN: 144
31
2549
( )
3.5 (TI)
(TIDC)
7,667 TIDC
70.00 TI
99.99
3.6 (TI)
(KSC)
2,034 2.5
3.7 (TDE)
(CPG)
5,034 CPG
TDE
88.39
11.61
3.8 (TDE)
(TIDC)
1,720 TIDC
70.00 TDE
88.39
11.61
3.9 (TT)
(CPG)
9,288 CPG
TT
99.99
3.10 (WW)
(CPG)
2,670 CPG
WW
87.50
( ) ( 56-1)
TRUETN: 145
31
2549
( )
3.11 (TMN)
(CPG)
7,768 CPG
TMN
49.00
51.00
3.12 ( ) (True Visions)
(CPG)
5,149 2.11
3.13 (BITCO)
(CPG)
461,651 1.1
816,998
3
3.14
(TIDC)
8,621 TIDC
70.00
810,536.60
3.15
( ) (NEC)
2,094 2.14
810,536.60
3.16
(CPG)
22,072 1.2
5 -10
( ) ( 56-1)
TRUETN: 146
31
2549
( )
3.17
(CPG)
34,014 1.2
200
- 220
220 -
520
3.18
(CPG)
41,427 1.2
3.19
1
(AI)
271 2.16
3.20
1
(TIDC)
1,089 1.4
3.21
1
( ) (NEC)
25 NEC
9.62
3.22
1
(CPG)
2,286 1.5
959,483
( ) ( 56-1)
TRUETN: 147
31
2549
( )
4.
4.1 (TI)
(AI)
2,228 3.4
4.2 (TI)
(CPG)
1,263 2.4
4.3 (TI)
(TIDC)
1,131 3.5
4.4 (TM)
(CPG)
1,875 2.3
4.5 (TLR)
(CPG)
5,067 CPG
TLR
99.99
4.6 (TDE)
(CPG)
3,081 3.7
4.7 (BITCO)
(NC TRUE)
5,839 NC TRUE
40.00 BITCO
78.26
15.10
( ) ( 56-1)
TRUETN: 148
31
2549
( )
4.8 (BITCO)
(CPG)
14,397 1.1
4.9
( ) (NEC)
1,721 2.14
4.10
(CPG)
64,047 1.2
4.11
1
(NC TRUE)
179 2.18
4.12
1
(KSC)
11 KSC
37.83
4.13
1
(AI)
250 2.16
4.14
1
(CPG)
720 1.5
101,809
( ) ( 56-1)
TRUETN: 149
.
( )
14,973
827
57,100
6,024
( ) 24
850,867
929,815
.
( )
26,585
5,205
7,214
1,045
50,653
( ) 3,622
94,324
( ) ( 56-1)
TRUETN: 150
.
( )
(KSC) 25,880
12,000
37,880
KSC 37.83
.
( )
Kreditanstalt für Wiederaufbau (KfW) 5,579,378
KfW 15.54
160.65
(“LIBOR”)
. . 2549 31 . . 2554
31 . . 2549 423.14
.
(“ ”)
( ) ( 56-1)
TRUETN: 151
1.
2.
7,000
( .)
/
Shareholders Agreement
22 2542 KfW
. . .
( ) ( 56-1)
TRUETO: 152
12.
12.1
3
2549 :
2548 :
2547 :
3
2549
31
. . 2549
2548
31
. . 2548
2547
31
. . 2547
( ) ( 56-1)
TRUETO: 153
12.2 ( )
31 . . 2549, . . 2548 . . 2547( : )
( )31 Common 31 Common 31 Common
. . 2549 Size (%) . . 2548 Size (%) . . 2547 Size (%)
3,923,739 3.19 8,274,065 7.05 4,469,146 4.36 2,212,303 1.80 9,141,281 7.79 1,739,248 1.70
314,628 0.26 159,367 0.14 1,357,653 1.32 – 6,561,502 5.34 6,635,707 5.65 6,264,259 6.10
37,880 0.03 - - - - - 1,046,715 0.85 895,201 0.76 984,225 0.96
1,447,066 1.18 1,311,998 1.12 861,209 0.84 672,565 0.55 387,371 0.33 2,569,866 2.50
2,087,863 1.70 1,881,657 1.60 1,557,751 1.52 18,304,261 14.90 28,686,647 24.44 19,803,357 19.30
- 15,670 0.01 4,693,031 4.00 3,645,417 3.56 - 166,845 0.13 94,682 0.08 97,071 0.09 - 57,674 0.05 53,874 0.05 53,874 0.05
- 77,915,758 63.37 71,975,162 61.32 75,674,473 73.74 9,958,064 8.10 8,938,577 7.61 - -
- - 16,100,144 13.09 2,529,379 2.15 2,947,677 2.87 - 437,876 0.35 412,374 0.35 403,311 0.39
104,652,031 85.10 88,697,079 75.56 82,821,823 80.70
122,956,292 100.00 117,383,726 100.00 102,625,180 100.00
776,461 0.63 13,120,072 11.17 217,658 0.21 11,774,864 9.58 4,917,461 4.19 4,108,555 4.00
8,837,648 7.19 7,153,322 6.09 4,449,677 4.34 2,608,346 2.12 1,130,165 0.96 1,353,122 1.32 5,723,724 4.65 3,918,407 3.34 3,902,939 3.81 2,511,892 2.04 1,955,123 1.66 2,281,706 2.22
32,232,935 26.21 32,194,550 27.41 16,313,657 15.90
80,107,905 65.15 74,984,280 63.87 79,970,768 77.92 2,188,517 1.78 1,990,725 1.70 - -
184,400 0.15 - - 1,246,350 1.21 842,378 0.69 302,312 0.26 356,853 0.35
83,323,200 67.77 77,277,317 65.83 81,573,971 79.48
115,556,135 93.98 109,471,867 93.24 97,887,628 95.38
6,993,668 6,994,055 6,994,655 40,141,056 39,780,160 39,588,738
6,993,668 5.69 6,994,055 5.98 6,994,655 6.82 38,021,609 30.93 33,953,398 29.01 33,930,617 33.09
11,432,046 9.30 11,432,046 9.77 11,432,046 11.15
(1,492,847) (1.21) (1,492,936) (1.28) (1,493,070) (1.46) (3,980,592) (3.24) (3,271,974) (2.80) (3,260,734) (3.18)
104,344 0.08 104,344 0.09 104,344 0.10 ( )
(415) - (415) - 24,623 0.02 ( )
34,881 0.03 34,881 0.03 34,881 0.03 (44,244,802) (35.99) (40,064,770) (34.23) (43,400,745) (42.32)
6,867,892 5.59 7,688,629 6.57 4,366,617 4.25 532,265 0.43 223,230 0.19 370,935 0.37
7,400,157 6.02 7,911,859 6.76 4,737,552 4.62
122,956,292 100.00 117,383,726 100.00 102,625,180 100.00
( ) ( 56-1)
TRUETO: 154
( )
31 . . 2549, . . 2548 . . 2547( : )
( )31 Common 31 Common 31 Common
. . 2549 Size (%) . . 2548 Size (%) . . 2547 Size (%)
50,445,414 97.27 41,173,319 94.02 30,648,684 92.85 1,416,518 2.73 2,617,360 5.98 2,361,556 7.15
51,861,932 100.00 43,790,679 100.00 33,010,240 100.00
36,886,949 71.13 29,172,275 66.62 22,094,271 66.93 1,344,711 2.59 2,399,789 5.48 2,039,605 6.18
38,231,660 73.72 31,572,064 72.10 24,133,876 73.11
13,630,272 26.28 12,218,615 27.90 8,876,364 26.89 13,955,673 26.91 11,275,714 25.75 7,959,285 24.11
( ) (325,401) (0.63) 942,901 2.15 917,079 2.78 694,815 1.34 396,743 0.91 633,058 1.92
(409,553) (0.79) (2,183,536) (4.99) (179,372) (0.54) ( ) (40,139) (0.08) (843,892) (1.93) 1,370,765 4.16
( ) (25,562) (0.05) 271,898 0.62 338,137 1.02
- - 370,238 0.85 156,695 0.47 ( ) (65,701) (0.13) (201,756) (0.46) 1,865,597 5.65
171,497 0.33 103,918 0.24 41,251 0.12 (6,306,217) (12.16) (4,785,369) (10.93) (4,212,697) (12.76)
( ) 1,903,007 3.67 (146,016) (0.33) 255,222 0.77 (4,297,414) (8.29) (5,029,223) (11.48) (2,050,627) (6.22)
250,986 0.48 834,155 1.90 (87,521) (0.27) (4,046,428) (7.81) (4,195,068) (9.58) (2,138,148) (6.49)
- - 801,001 1.83 2,726,305 8.26 ( ) (4,046,428) (7.81) (3,394,067) (7.75) 588,157 1.77
( ) (133,604) (0.26) 131,062 0.30 16,756 0.05 ( ) (4,180,032) (8.07) (3,263,005) (7.45) 604,913 1.82
(1.36) (1.41) (0.93)
- 0.24 0.90 (1.36) (1.17) (0.03)
( ) ( 56-1)
TRUETO: 155
( )
31 . . 2549, . . 2548 . . 2547( : )
( )31 31 31
. . 2549 . . 2548 . . 2547
( ) (4,046,428) (3,394,067) 588,157 6,306,217 4,785,369 4,212,697
(250,986) (834,155) 87,522 2,008,803 557,147 4,888,376
18,092,136 15,020,511 12,247,349 (149,642) (186,842) (73,030) 591,538 923,460 558,421
19,223 2,047,972 8,330 (235,614) - -
- - 26,454 1,458 63,787 22,891
- (16,857) - - (961) -
(1,852,769) (3,883) (566,826) - (801,001) (2,726,305) - (370,239) (156,695) - - (165,044)
( ) 25,562 (271,898) (338,137)
- (161,360) (1,322,123) (851,859) - - 50,479 347,515 (200,856) - (128,443) (437,215) (469,247) - (145,669) 2,137,961 1,030,723 - (22,949) (22,228) 200,757 - 1,137,657 125,470 (1,100,736) - 857,586 (281,502) 1,353,217 - 101,951 (25,502) (815,356)
20,189,947 17,483,572 12,872,427 (6,253,827) (5,137,565) (4,758,224)
(1,008,364) (741,890) (732,831) 12,927,756 11,604,117 7,381,372
( ) 6,928,977 (7,402,032) 81,037 ( ) - (205,837) 816,353 2,401,190
(12,000) - - -
(6,632,376) - - (1,255,052) (101,622) (163,924) (9,450,121) (10,269,233) (3,962,576)
( ) - - - 613,689 (72,163) - (21,500)
- (514,063) (64,005) (3,800) - -
- 26,277 - - 1,250 -
520,422 537,738 208,665 (10,181,950) (16,905,332) (907,424)
( ) 2,686,832 13,040,490 (548,263) 3,359,296 11,075 2,663,450
- 27,646,006 2,029,084 10,059,584 (15,292,034) (100,898) -
- - 15,300 (143,624) (585,662) (4,078,754)
(25,304,849) (5,234,014) (12,931,988) ( ) (7,048,373) 9,160,075 (4,820,671)
( ) (4,302,566) 3,858,859 1,653,277 8,274,065 4,469,146 2,815,869
(47,761) (53,940) - 3,923,738 8,274,065 4,469,146
( ) ( 56-1)
TRUETO: 156
12.3
( ) ( 56-1)
TRUETO: 157
12.4
2549 ( )
Convergence Lifestyle
11
2550
Convergence Lifestyle
1 850,000
2549 Trueworld.net
300,000 “Special Force”
1.5
4 Casual
2549 21.7 50.4
(EBITDA) 7.8
16.9
( ) ( 56-1)
TRUETO: 158
2549 3.1
32 7.6
19.3
2549 22.3 13.9 EBITDA
0.5 5.1
2549
50 3.3 47 442,728
Non-voice
4.4 24.0 EBITDA 8.1 9.8
2549
( .)
8.3 EBITDA 2.1 2549
30 629,269 ( )
6.0 ( 2.9
2548) (1.7
)
( ) 2549 4.2 (
3.3 2548)
( ) ( 56-1)
TRUETO: 159
(Deferred tax)
2549 7.4
8.0 2549
3.4
465
2549 EBITDA
4.6 4.8 2548 6.5 4
2550
2550
2550 3
Convergence
Lifestyle
1 3
20
(Interconnection Regime)
2550
. 2550
( ) ( 56-1)
TRUETO: 160
5
Convergence Lifestyle
2549
( )
4 2549 (Deferred
income tax)
( 30)
2549 7.8
822 2549 1.0
2548 ( 17)
2549
( ) ( 56-1)
TRUETO: 161
21.7 50.4 EBITDA
7.8 16.9
46 1.4
Convergence lifestyle
EBITDA 32.6 2549 ( 35.6 2548)
( 21.4 2549 23.4 2548) ( 40.0
2549 44.9 2548)
19.7
2.0 17.0
719
(1.0 )
2549
839 (
)
231 ( )
6.3 ( 4.8 2548)
6.0 ( 2.9 2548)
1.7 (
)
( ) ( 56-1)
TRUETO: 162
3.7 ( 2.3 2548)
2549 4.2 3.3 2548
(
- )
1.9 ( 2.7 2548)
( ) ( 56-1)
TRUETO: 163
( )
( ) 2549 2548 %( : )
1/ 50,445 41,456 21.71,417 2,617 (45.9)
1/ 51,862 44,073 17.7
36,887 29,713 24.11/ 2/ 10,674 9,876 8.1
13,094 7,447 75.83/ 13,119 12,390 5.9
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ity o
f
Penn
sylv
ania
2544
-
2542
-254
3
. .
45
1,11
7,83
8 -
(IO
D)
-
-
2536
-254
2
Veriz
on C
omm
unic
atio
ns, P
hila
delp
hia
.
2544
Offi
ce /
SME
Solu
tion
& W
irele
ss A
cces
s
. .
Indi
ana
Uni
vers
ity o
f Pen
nsyl
vani
a,
Offi
ce /
SME
Solu
tion
&
Wire
less
Acc
ess
43
566,
936
-
(IO
D)
-
Dire
ctor
Cer
tific
atio
n Pr
ogra
m (D
CP)
2545
2541
-254
5
2541
-254
4
.
.
.
.
.
()
( 5
6-1)
1
188
-
()
(31/
12/4
9)
Uni
vers
ity o
f Sou
th A
laba
ma,
C
orpo
rate
Sol
utio
n, W
hole
sale
s &
Dat
a .
Cor
pora
te
Solu
tion,
Who
lesa
les
& D
ata
48
700
-
(IO
D)
-
Dire
ctor
Cer
tific
atio
n Pr
ogra
m (D
CP
54)
2549
-
2544
-254
6
2544
-254
525
43
2541
2540
Exec
utiv
e D
irect
or C
orpo
rate
Sol
utio
n .
. ..
.. . .
. . S
olut
ion
Del
iver
y.
Sto
rage
Pro
duct
.
..
.
2542
-254
625
40-2
542
Hom
e / C
onsu
mer
Sol
utio
n &
Hig
hspe
ed
Acce
ss
..
.
Hom
e /
Con
sum
er S
olut
ion
& H
ighs
peed
Ac
cess
52
- -
(IO
D)
-
-
2544
-254
5
2535
-254
3. .
()
.
()
( 5
6-1)
1
189
( 3
1 2
549)
/
True
TH
TP
TE
TLS
TLR
TI
K.I.N.
TT&D
TEMCO
W&W
TT
TMN
True Internet
Asia DBS
AI
AWC
TM
TIDC
TDE
Nilubon <BVI>
K.I.N. <BVI>
BITCO
TMV
TVS
NTU
TSC
NEC
ARM
NC True
TDS
SD
TIG
SM
TPC
TUC
CNP
CTV
RM
IBC
TVSC
SSV
UBCF
MKSC
Internet KSC
IKSC
KSC
ISM
OAGS
TKSC
Beboyd
N&T
True Magic
1.C
/
/
/
2.VC
/ /
3.*
/
/ /
4.VC
/ /
/
/
/
/
5..
VC/
/
/ /
/ /
/
/ /
6..
*/
7./
/ /
/
/ /
/
/
/
/
/
/ /
/
/
/
/
/
/
/
/
/
8./
/ /
/
/
/
/ /
/ /
/
/ /
/ C
/
/
/ /
/
/
/
9./
/
/ /
/ /
/
/ /
/ /
/
/ /
/ /
/ /
/
/
/
/
/
/
/
/
/ /
/ /
/
/ /
10.
*/
/
11.
*/
12.
VC/
/
/ /
/
/
/
/ /
/
/ /
/
/
/
/
/
/
/
/
/
/
/
/ /
13.
/
/ /
14.
/
15.
/
16.
//
/
/
/ /
/
/
/
/ /
/
/
/
17.
/
/
18.
..
/
*
C
=
V
C =
/ =
()
( 5
6-1)
1
190
True
()
NTU
()
TH
TSC
TP
NEC
(
)
TE
ARM
TLS
()
NC
Tru
e
TLR
TD
S
TI
SD
K.I.N
..
.. (
)
TIG
(
)
TT&D
SM
TEM
CO
TP
C
()
W&W
TU
C
()
TT
CN
P
TMN
C
TV
True
Inte
rnet
RM
Asia
DBS
(
) IB
C
AITV
SC (
) ( (
)
AWC
SS
V
TM
UBC
F
TID
C
MKS
C
TDE
In
tern
et K
SC
Nilu
bon
<BVI
> N
ilubo
n C
o.,L
td. (
BVI
) IK
SC
K.I.N
. <BV
I>
K.I.N
. (Th
aila
nd) C
o.,L
td. (
BVI
) KS
C
BITC
O (
) IS
M
TMV
O
AGS
TKSC
TVS
()
( (
)Be
boyd
N &
T
Tr
ue M
agic
()
( 5
6-1)
2
191
/ (
31
2549
)
/
TH
TP
TE
TLS
TLR
TI
K.I.N.
TT&D
TEMCO
W&W
TT
TMN
True Internet
Asia DBS
AI
AWC
TM
TIDC
TDE
Nilubon <BVI>
K.I.N. <BVI>
BITCO
TMV
TVS
NTU
TSC
NEC
ARM
NC True
TDS
SD
TIG
SM
TPC
TUC
CNP
CTV
RM
IBC
TVSC
SSV
UBCF
MKSC
Internet KSC
IKSC
KSC
ISM
OAGS
TKSC
Beboyd
N & T
True Magic
1.
/ /
/
2.
/
/
/
/
3..
.
/
4.
/
5.
/
6.
/
/
/
/ /
/
//
/ /
/
/ /
/
7.
/
/
/
/
8.
/
9.
/
10.
..
..
.
/
11.
/
//
/ /
/
/ /
/
/ /
/
/
/
/
/
/
/ /
/
12.
//
/
/
/
//
/
/
//
/
/
/
13.
/
/
/
14.
/
15.
/
/
16.
/
17.
/
/
/
//
18.
/
19.
/
20.
/
/ /
/
/
/
()
( 5
6-1)
2
192
/ (
31
2549
)
/
TH
TP
TE
TLS
TLR
TI
K.I.N.
TT&D
TEMCO
W&W
TT
TMN
True Internet
Asia DBS
AI
AWC
TM
TIDC
TDE
Nilubon <BVI>
K.I.N. <BVI>
BITCO
TMV
TVS
NTU
TSC
NEC
ARM
NC True
TDS
SD
TIG
SM
TPC
TUC
CNP
CTV
RM
IBC
TVSC
SSV
UBCF
MKSC
Internet KSC
IKSC
KSC
ISM
OAGS
TKSC
Beboyd
N & T
True Magic
21.
/
/
/
/
//
/
/
/
//
/
/ /
/
/
/
/
22.
/
23.
/
/
24.
/
//
25.
.
/ /
26.
/
/
27.
/
/
/
/
//
/
/
28.
/
/
29.
/
/
/
/
30.
/
/
31.
/
32.
/
33.
.
/
34.
/
35.
.
/
36.
/
37.
/
38.
/
39.
/
40.
/
()
( 5
6-1)
2
193
/ (
31
2549
)
/
TH
TP
TE
TLS
TLR
TI
K.I.N.
TT&D
TEMCO
W&W
TT
TMN
True Internet
Asia DBS
AI
AWC
TM
TIDC
TDE
Nilubon <BVI>
K.I.N. <BVI>
BITCO
TMV
TVS
NTU
TSC
NEC
ARM
NC True
TDS
SD
TIG
SM
TPC
TUC
CNP
CTV
RM
IBC
TVSC
SSV
UBCF
MKSC
Internet KSC
IKSC
KSC
ISM
OAGS
TKSC
Beboyd
N & T
True Magic
41.
/
42.
/
43.
/
/
44.
/
45.
/
46.
/
47.
/
48.
/
49.
/
50.
/
51.
/
52.
/
53.
/
54.
/
55.
/
56.
/
57.
/
58.
/
59.
/
60.
//
/
61.
/
()
( 5
6-1)
2
194
/ (
31
2549
)
/
TH
TP
TE
TLS
TLR
TI
K.I.N.
TT&D
TEMCO
W&W
TT
TMN
True Internet
Asia DBS
AI
AWC
TM
TIDC
TDE
Nilubon <BVI>
K.I.N. <BVI>
BITCO
TMV
TVS
NTU
TSC
NEC
ARM
NC True
TDS
SD
TIG
SM
TPC
TUC
CNP
CTV
RM
IBC
TVSC
SSV
UBCF
MKSC
Internet KSC
IKSC
KSC
ISM
OAGS
TKSC
Beboyd
N & T
True Magic
62.
/
63.
/
64.
/
65.
/
66.
/
67.
/
68.
/
69.
/
70.
/
71.
/
72.
/
73.
/
/
74.
/
75.
/
76.
.
/
/
77.
.
/
78.
/
79.
/
/
80.
/
81.
/
82.
.
/
83.
/
/
/
84.
/
/
/ /
/
/
/
85.
.
/
()
( 5
6-1)
2
195
/ (
31
2549
)
/
TH
TP
TE
TLS
TLR
TI
K.I.N.
TT&D
TEMCO
W&W
TT
TMN
True Internet
Asia DBS
AI
AWC
TM
TIDC
TDE
Nilubon <BVI>
K.I.N. <BVI>
BITCO
TMV
TVS
NTU
TSC
NEC
ARM
NC True
TDS
SD
TIG
SM
TPC
TUC
CNP
CTV
RM
IBC
TVSC
SSV
UBCF
MKSC
Internet KSC
IKSC
KSC
ISM
OAGS
TKSC
Beboyd
N & T
True Magic
86.
/
87.
/
88.
/
89.
/
90.
/
/
91.
/
/
92.
/
93.
/
94.
/
95.
/
96.
/
97.
/
()
( 5
6-1)
2
196
THN
TU(
)
TP
TSC
TE
NEC
(
)
TLS
()
ARM
TLR
NC
Tru
e
TI
TDS
K.I.N
..
.. (
)
SD
TT&D
TI
G
()
TEM
CO
SM
W&W
TP
C
()
TT
TUC
(
)
TMN
C
NP
True
Inte
rnet
C
TV
Asia
DBS
(
) RM
AIIB
C
AWC
O
AGS
TMSS
V
TID
C
UBC
F
TDE
MKS
C
Nilu
bon
<BVI
> N
ilubo
n C
o.,L
td. (
BVI)
Inte
rnet
KSC
K.I.N
. <BV
I>
K.I.N
. (Th
aila
nd)C
o.,L
td. (
BVI)
IKSC
BITC
O (
)KS
C
TMV
IS
M
TVS
()
((
)TV
SC (
)
((
)
N &
T
TK
SC
True
Mag
ic
Be
boyd
( ) ( 56-1)
TRUETQ: 197
3
1.
“
(1)
(2)
(3)
15 2550
.
.
”
( ) ( 56-1)
TRUETQ: 198
1. ……………………………………
2. …………………………………….
3.
Group Investment
……………………………………
4. ……………………………………
5.
(Mr. William Harris)
……………………………………
. ……………………………………
……………………………………
……………………………………
( ) ( 56-1)
TRUETQ: 199
2.
“
.
.
”
……………………………………
. ……………………………………
……………………………………
…………………………………….
( ) ( 56-1)
TRUETQ: 200
2.
“
.
.
”
……………………………………
. ……………………………………
……………………………………
……………………………………
( ) ( 56-1)
TRUETQ: 201
2.
“
.
.
”
. ……………………………………
. ……………………………………
……………………………………
……………………………………
( ) ( 56-1)
TRUETQ: 202
2.
“
.
.
”
……………………………………
. ……………………………………
……………………………………
……………………………………
( ) ( 56-1)
TRUETQ: 203
2.
“
.
.
”
……………………………………
. ……………………………………
……………………………………
……………………………………
( ) ( 56-1)
TRUETQ: 204
2.
“
.
.
”
……………………………………
. ……………………………………
……………………………………
……………………………………
( ) ( 56-1)
TRUETQ: 205
2.
“
.
.
”
. ……………………………………
. ……………………………………
……………………………………
……………………………………
( ) ( 56-1)
TRUETQ: 206
2.
“
.
.
”
……………………………………
. ……………………………………
……………………………………
……………………………………
( ) ( 56-1)
TRUETQ: 207
2.
“
.
.
”
……………………………………
. ……………………………………
……………………………………
……………………………………
( ) ( 56-1)
TRUETQ: 208
2.
“
.
.
”
……………………………………
. ……………………………………
……………………………………
……………………………………
( ) ( 56-1)
TRUETQ: 209
2.
“
.
.
”
(Mr. Heinrich Heims)
……………………………………
. ……………………………………
……………………………………
…………………………………….
( ) ( 56-1)
TRUETQ: 210
2.
“
.
.
”
(Mr. Andreas Klocke)
……………………………………
. ……………………………………
……………………………………
……………………………………
( ) ( 56-1)
TRUETQ: 211
2.
“
.
.
”
(Mr. Harald Link)
…………………………………..
. ……………………………………
……………………………………
……………………………………
( ) ( 56-1)
TRUETQ: 212
2.
“
.
.
”
. .
(Dr. Lee G. Lam)
……………………………………
. ……………………………………
……………………………………
……………………………………
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