About Us
SGP targets to be one of the leading energy operators in East Asia. For business in Thailand, the Company has investment plans to expand LPG business by increasing number of LGP filling stations and LPG filling plants as well as to expand marine transportation business by purchasing more LPG vessel tankers. With regard to overseas business, SGP has purchased LPG terminal with filling plants to operate LPG business in Vietnam, China, Singapore, Malaysia and etc. SGP also looks for investment opportunity for LPG business in more companies of East Asia.
Moreover, SGP also seeks opportunity to expand business in other energy related business, for instance, expansion in LNG or NGV business, including petrochemicals and other energy fields.
Siamgas and Petrochemicals Public Company Limited has been listed in Stock Exchange of Thailand since 2008.
Vision & Mission
Vision
SIAMGAS Group determines to be the regional leader in energy business.
Mission
SGP has advantages and readiness to support business expansion, for instance, the growth of the market and gas floating price in the market. Regarding to creating of business competitive edge, SGP has developed potentials of upstream business and built effective products and services distribution networks with nationwide coverage and expanded business to the neighboring countries. For such development, SGP puts emphasis on the followings:
• Plan to increase facilities, warehouses, gas filling plants and service stations including gas tankers and gas trucks.
• Develop human resources continually to develop potential and increase capability for achievement operations results with efficiency and safety.
• Place importance on policy concerning product safety, service rendering including operations within the organization.
• Focus on well livelihood of the public by providing excellent products and services people, particularly on safety, convenience and at reasonable and fair prices.
• Perform business in ethical manner pursuant to governance principles and against all types and kinds of corruption, place importance on environment preservation as well as having responsibilities to society, community as well as shareholders and all related parties.
Company History
SGP has continuously restructured its business by expanding its operations to trading of LPG and other petrochemical products, as well as other related businesses for example transportation of petroleum by both road tankers and vessel tankers. With regard to its expansion, on 27 December 2004, SGP acquired the business of Unique Gas and Petrochemicals Public Company Limited (UGP), who operated LPG, ammonia, and other petrochemicals business. On 31 March 2005, SGP invested in Lucky Carrier Company Limited (LCR) who was the Oil and LPG transportation service provider. Then, on 1 September 2005, SGP purchased all major assets for LPG business operations from SGI such as lands, property lease rights, buildings, equipments, tools, LPG cylinders, LPG terminals, trademark, and patents.
Since 2005, SGP has changed the name to Siamgas and Petrochemicals Public Company Limited, and obtained the license as a Fuel Trader under section 7 trading LPG, ammonia, and other petrochemicals under the trademark of “SIAMGAS” and “UNIQUE GAS”, and transporting LPG and other products. SGP has altogether 8 subsidiaries which are the directly held subsidiaries – Unique Gas and Petrochemicals Public Company Limited and Lucky Carrier Company Limited and other 6 companies of which shares are held through the subsidiaries including Lucky Marine Company Limited, Chemicals Gas Transport Company Limited, Unique Marine Company Limited, Unique Gas Trading Company Limited, Unique Gas International Company Limited, and Unique Gas Carrier Company Limited.
Since 2008, SGP has been listed in the Stock Exchange of Thailand, starting to trade its shares under the
symbol of “SGP” on 3 June 2008, and have major development as follows:
• SGP established Siam Quality Steel Company Limited (SQS) with the registered capital of 70 million baht on 27 June 2008 with the purpose to purchase all assets for the operations of LPG cylinder manufacturing and distribution of Universal Metal Drum Company Limited from Sukhumvit Asset Management Company Limited in an amount of 123.30 million baht.
• SGP acquired 28 million shares of Siam Ethanol Export Company Limited (SEEC) (par value 10 baht) in the total amount of 280 million baht from Vivon Corporation Company Limited, and Mr. Kritpong Patcharapinyopong who are not related to SGP. Therefore, SGP has become the major shareholder holding 70% equity stakes in SEEC since 7 October 2008.
• SGP purchased a piece of land for new terminal construction from Thai Krieng Group Public Company Limited on 30 December 2008. The purchased estate comprises 89-3-40 rais land, and buildings located at 33 Moo 4, Suksawad Road, Bangchak, Phrapradaeng, Samutprakarn.
• SGP established Siam Gas HK Limited (“SGHK”), a direct subsidiary, in which SGP holds 100% share interest, was incorporated in Hong Kong Special Administrative Region of the People’s Republic of China on 20 August 2009. Its primary objectives are a holding company and trading of petroleum product.
• SGP purchased 100% equity interest in Super Gas Company Limited (SPGV) from Shanghai Crown Company Limited at 11.5 million USD and SGP directly holds 100% of registered and paid-up capital on 2 March 2010.
• SGP purchased 100% share capital of Shell Gas (LPG) Singapore Private Limited (SGLS) from Shell Gas (LPG) Holdings B.V. at 15.0 million SGD and SGP directly holds 100% of registered and paid-up capital on 15 July 2010. Shell Gas (LPG) Singapore Private Limited (SGLS) has been renamed to SingGas (LPG) Private Limited (SINGGAS). On 28 December 2010, SGP sold its 5% equity stake to Thousand Stars Corporate Limited.
• SGP established UNITED GAS & PETROCHEMICALS SDN. BHD. (“UNITED”) as its subsidiary in which SGP holds 100% share interest. UNITED was registered in Malaysia in quarter 3 of 2010 in order to operate and distribute petroleum products in Malaysia. On 9 August 2013, the meeting of the Board of Directors has resolution to dissolve UNITED because this subsidiary has not yet operated any business and for purposes of managerial benefits and appropriateness. Dissolution of UNITED shall not have any impact to operations of the Company.
• SGP and Siam Nathalin Company Limited jointly formed a joint venture of which 50% share capital held by SGP in quarter 3 of 2010.
• SGP purchased 100% of equity interest in BP Zhuhai LPG Limited (BPZH) a wholly owned by SHINE TOP INTERNATIONAL INVESTMENT LIMITED (“SHINE TOP”) (49%) and BP Global Investments Limited (BP GLOBAL) (51%) at 101.0 Million USD through Siamgas HK Company Limited on 29 September 2010, and the transaction was completed on 24 December 2010. The Company is now renamed to Sino Siam Gas and Petrochemicals Company Limited(SINOSIAM). SINOSIAM was registered in China in order to operate the integrated LPG business comprising of storage terminal, jetties for import and export, terminal throughput services, as well as bulk breaking for redistribution via vessel tankers, road tankers, and cylinder filling plant.
• SGP purchased 100% equity interest in Chevron Ocean Gas & Energy Limited (COGEL) from Chevron China Limited through Siamgas HK Company Limited, a wholly owned subsidiary of SGP, at 51.0 Million USD and placed a deposit of 29 September 2009, However, the business handover was completed on 30 June 2011. The Company is now renamed to Siam Ocean Gas and Energy Limited (SOGEL). SOGEL was
registered in China in order to operate the integrated LPG business comprising of storage terminal, jetties for import and export, terminal throughput services, as well as bulk breaking for redistribution via vessel tankers and road tankers.
• SGP established Siam Gas Trading Private Limited (SGT) of which 100% share capital owned by SGP. SGT was registered in Singapore on 27 May 2012 with the purpose to do import and export LPG business in foreign countries. Business operation has been commenced since January 2013.
• SGP had completed merging its 5 marine transportation subsidiaries including Lucky Marine Company Limited, Unique Gas Trading Company Limited, Unique Gas International Company Limited, and Unique Gas Carrier Company Limited into Siam Lucky Marine Company Limited which SGP holds shares directly through its subsidiaries 99.99% of paid up registered capital since 1 June 2011.
• SGP issued subordinated, unsecured bonds with bond holder representative totally 4,500.0 million baht on 6-8 February 2012 with objective to reduce loan interest burden and to release all of collateral SGP placed with the financial institutions.
• SGP established Siam Suksawat Co., Ltd. as its subsidiary on 28 August 2012 of which 99.99% of its registered and paid-up capital held by SGP with purpose to render container terminal services.
• SGP reduced its registered capital by repurchasing 31,068,500 shares. Schedule for share repurchase project was from 3 August 2009 to 2 February 2010 and schedule to dispose such repurchased shares was from 3 February 2010 to 2 February 2013. Pursuant to the ministerial regulation of the Ministry of Commerce Re: “Rules and procedures governing a company repurchasing its own shares, disposing of such repurchased shares, and writing off such repurchased shares B.E. 2544”, it is specified that upon completion of disposition period of 3 years, if the company cannot dispose all of such repurchased shares or does not dispose them, the company must reduce its paid-up capital by writing off such repurchased share which have not been disposed. Therefore, SGP has a resolution to reduce its registered capital of 31,068,500 shares on 22 February 2013 from totally 950,000,000 ordinary shares to be 918,931,500 shares. Such capital reduction has been registered with the Ministry of Commerce already on 6 March 2013.
• SGP purchased 79.64% of ordinary shares of Shell Gas Hai Phong Limited (“SGH”) at 0.3 million USD from Shell Gas (LPG) Holding B.V. Deposit has been placed on 3 October 2012 and business handover was completed on 18 January 2013. This company is renamed to “Citygas North Company Limited” with objective to expand liquefied petroleum gas business in Vietnam.
• SGP purchased 100% of ordinary shares of Shell Gas (LPG) Vietnam Limited (“SGV”) from Shell Gas (LPG) Holding B.V. at 0.1 million USD. Deposit has been placed on 3 October 2012 and business handover was completed on 18 January 2013. This company is renamed to “Citygas Company Limited” with objective to expand liquefied petroleum gas business in Vietnam.
• SGP purchased assets and liquefied petroleum gas business of Shell Timur SDN. BHD. (“STSB”) in East Malaysia at 10.0 million Malaysian ringgit through Mygas SDN. BHD. (“MYGAZ”). MYGAZ is a subsidiary which SGP directly holds 70% of registered and paid-up capital and is registered in Malaysia to operate liquefied petroleum gas business in Malaysia. Deposit has been placed on 3 October 2012. Handover of all assets and liquefied petroleum gas business have been completed on 29 May 2013.
• SGP issued subordinated, unsecured bonds with bondholder representative totally 1,300 million baht on 27-29 January 2014 with objective to use for business operation and refinancing.
• SGP issued subordinated, unsecured bonds with bondholder representative totally 2,000 million baht on 26-29 January 2015 with objective for business operation and expansion including for refinancing.
• Merging of two of SGP’s subsidiaries, SUPERGAS CO., LTD. (“SGV”) and CITYGAS CO., LTD. (“CGV”), in Vietnam had completed on 19 October 2015, and SGV has operated business on SGP’s behalf with objective to strengthen of business operation in Vietnam. However, all of assets, liabilities and obligations of CGV have been transferred to SGV in order to comply with the civil and commercial Code law governing mergers of company limited in Vietnam.
• SGP had established SIAMGAS MYANMAR CONSORTIUM PTE. LTD. (“SGM”) as subsidiary of SGP with total registered capital of 100 Singapore dollar or approximately 2,566 baht (Exchange rate at 25.66 baht per 1 Singapore dollar). SGP holds 80% of registered capital and paid-up shares. SGM had registered as a juristic person in Singapore on 30 November 2015 with objective to be a holding company.
• SGP had established FAR EAST PETROLEUM SDN. BHD. (“FAR EAST”) as subsidiary of SGP with total registered capital of 400,000 Malaysian Ringgit and holding 100% of shares on 7 November 2015. On 24 February 2015, SGP increased registered capital and paid-up shares of Far East from 400,000 Malaysian Ringgit to 10,000,000 Malaysian Ringgit with objective to operate petroleum distribution business and warehouse in Malaysia. Such capital increase made NAS GAS SDN. BHD. (“NAS GAS”), a non-related company with SGP, became a joint investor in the proportion of 30% of paid up capital, or in the amount of MYR 3,000,000 or equivalent to 25,380,000 baht. Thus, the Company’s proportion of registered capital and paid-up shares in FAR EAST is 70% or in the amount of MYR 7,000,000 or equal to 59,220,000 baht (Exchange rate is MYR 1 = 8.46 baht). This joint investment is considered as a joint venture (under joint venture contract).
• SGP issued subordinated, unsecured bonds with bondholder representative totally 3,000 million baht on 28-29 January 2016 with objective for business operation and expansion including repayment of existing subordinated bonds.
• SIAMGAS POWER PTE. LTD. (“SPW”), as subsidiary that SGP holds 100% of registered capital and paid-up shares with total investments of 24 million US dollar, or equivalent to approximately 844.08 million baht (exchange rate is 1 US dollar = 35.17 baht). SPW has registered as a juristic person in Singapore on 5 July 2016 with objective to be a holding company in electrical energy business.
• SPW acquired 30% of investments of registered capital and paid-up shares of 230 MW combined cycle power plant in Myanmar with total investments of 48 million US. Dollar, or equivalent to approximately 1,688.16 million baht (by referring to average exchange rate of the Bank of Thailand as of 15 July 2016 where 1 US dollar equaled to 35.17 baht), where SIAM GAS POWER PTE. LTD. (“SPW”), a subsidiary registered in Singapore that SGP holds 100% of registered capital, is an investor. Sales and Purchase Agreement has been executed on 18 July 2016.
• SGP established SIAMGAS GLOBAL INVESTMENT PTE. LTD. (“SGB”), a subsidiary, that SGP holds 100% of registered capital and paid-up shares with total investment of 1 Singapore dollar, or equivalent to approximately 26.34 baht (exchange rate is 1 Singapore dollar = 26.34 baht). SGB has registered as a juristic person in Singapore on 25 August 2016 with objective to be a holding company.
• During the period from 23-25 January-2017 the Company had proposed to issue and offer unsubordinated and unsecured debenture bond. Total value of debenture bond is 2,000 million Baht. The par value is equal to offering price at 1,000 Baht per unit. Interest is repayment every 3 months.
• On 23 January-2017 the Company entered into the share sales agreement to dispose shares of Far East Petroleum Sdn.Bhd. to third parties in the portion of 30% or 3.00 million shares at a par value of 1.00 MYR totalling 3.00 million MYR. The Company made a loss from the disposal of investment in a subsidiary amounting to 3.08 million Baht. As a result the Company’s ownership interest decreased from 100.00% to 70.00% and Far East Petroleum Sdn.Bhd. still be a subsidiary of the Group.
• On 6 February-2017 Siamgas Global Investment Pte.Ltd. (“SGI”) established Siamgas J&J International Ltd.(“SJJ”) incorporated in Bangladesh with 48,625 shares at a par value of 100.00 BDT. The business objective is petroleum and petrochemical product distribution in Bangladesh. The Company’s ownership is 80% with paid-up capital of 3.89 million BDT or approximately 1.71 million Baht.
• On 22 February-2017 at the Board of Directors meeting of the Company the board passed a resolution to approve an increase in share capital of Siam Gas Power Pte.Ltd. (“SPW”) incorporated in Singapore with 24.00 million shares at par value of 1 USD or approximately 859.94 million Baht. The number of shares increased from 24.01 million shares to 48.01 million shares (with a par value of 1 USD). As a result the Company’s ownership interest remains unchanged at 100%. The registration was completed on 2 March-2017.
• On 23 May-2017 the transfer of shares in MLP was completed. This has led MSN AEP and MLP to become indirect associates of the Group in the second quarter of-2017.
• On 6 June-2017 Siamgas Global Investment Pte.Ltd. (“SGI”) a subsidiary of the Company entered into a Joint Venture Agreement with a third party to establish PT Siamindo Djojo Terminal incorporated in Indonesia with 0.06 million shares at a par value of 1 million IDR. The business objective is petroleum product distribution in Indonesia. The Group’s ownership is 55% with paid-up capital of 11,000 million IDR or approximately 27.50 million Baht.
• On 23 June-2017 Siamgas Global Investment Pte.Ltd. (“SGI”) a subsidiary of the Company entered into a Joint Venture Agreement with a third party to establish KMA Siam Ltd. (“KSL”) The business objective is petroleum product distribution in Myanmar. The group paid an advance payments for investment of 0.10 million USD or approximately 3.24 million Baht in August-2017.
• On 7 July-2017 Siamgas Global Investment Pte.Ltd. (“SGI”) registered an increase of its share capital of 0.05 million shares at a par value of 1 USD or approximately 1.70 million Baht. The number of shares increased from 0.05 million to 0.10 million with a par value of 1 USD. The Company has already paid the capital increase to SGI. As a result the Company’s ownership remains unchanged at 100%.
• On 16 July-2017 Siamgas J&J International Ltd. (“SJJ”) which is an indirect subsidiary was established Siamgas Bangladesh Ltd.(“SGB”) incorporated in Bangladesh with 1,000 shares at par value of 100.00 BDT. The objectives of the business is petroleum and petrochemical product distribution in Bangladesh. The Company’s ownership interest is 99.90% with paid-up the capital amounting to 99,900 BDT or approximately 40,679 Baht.
• On 12 September-2017 Siamgas Global Investment Pte.Ltd. (“SGI”) the subsidiary registered an increase of its share capital of 1.00 million shares at par value of 1 USD or approximately 33.22 million Baht. The number of shares increased from 0.10 million to 1.10 million with a par value of 1 USD. The Company has already paid the capital increase to SGI. As a result, the Company’s ownership remains unchanged at 100%.
• On 1 November-2017 Siam Gas Power Pte.Ltd.(“SPW”) entered into a share purchase agreement for investment in a combined cycle power plant in Myanmar. SPW has additionally purchased shares of three companies which are Myanmar Lighting (“IPP”) Co.,Ltd.(“MLIPP”), MSN International Limited (MSN) and Asiatech Energy Pte.Ltd. (“AEPL”) in the same proportion of 6.1% of registered and paid up capital in each company in order to increase the shares in the combined cycle power plant with a total consideration of 9.76 million USD (equivalent to 305.89 million Baht). As a result SPW ownership interest will be the portion of 36.10% of registered and paid-up shares and the transferring was completed on 1 February-2018.
• On 9 November-2017, Siam Gas Power Pte.Ltd.(“SPW”) established a power plant and electric transmission line in Myanmar. SPW has investment for three companies which are Southern Myanmar Development Co.,Ltd. (“SMD”), TSM Co.,Ltd. (“TSM”) and Asiatech Infrastructure Company Pte.Ltd. (“AIC”) in the same proportion of 33% of registered and paid up capital in each company with a total consideration of 0.03 million USD or equivalent to 0.80 million Baht.
• SGP issued unsubordinated unsecured and partially guaranteed bonds with bondholders representative totally 2,000 million baht on 26-27 February-2018 to institutional and/or high net worth investors with objective for using as working capital which is not related to the investment in asset of the Company.
• On 12 January-2018 Siam Gas Power Pte.Ltd.(“SPW”) incorporated in Singapore registered an increased of its capital of 1 million shares with a par value of 1 USD each or approximately 31.72 million baht. The number of shares increased from 51.02 million shares to 52.02 million shares with a par value of 1 USD. The Company has already paid the increase to SPW. As a result the Company’s ownership interest remains unchanged at 100%.
• On 5 February-2018 Siam Gas Power Pte.Ltd.(“SPW”) incorporated in Singapore registered an increased of its capital of 8.26 million shares with a par value of 1 USD or approximately 262.02 million baht. The number of shares increased from 52.02 million shares to 60.28 million shares with a par value of 1 USD. The Company has already paid the increase to SPW. As a result the Company’s ownership interest remains unchanged at 100%.
• On 3 May-2018 the Company has established Siam LNG Company Limited (“SNG”) in Thailand with 10 million shares at par value of 100 baht totaling 1,000 million baht. The Company owned 100% of total shares. The business objective is petroleum product natural gas and LNG distribution.
• On 16 May-2018 Siamgas Global Investment Pte.Ltd.(“SGI”) which is a 100% subsidiary has established Pacific Gas Bangladesh Ltd. (“PGB”) in Bangladesh with registered share capital amount 400,000 shares at a par value of 10,000 BDT. PGB is an indirect subsidiary which the Company holds shares indirectly through SGI (100% subsidiary) in the proportion of 90% of registered share capital of PGB. The business objective is petroleum product distribution in Bangladesh.
• On 17 May-2018 Siamgas Global Investment Pte.Ltd.(“SGI”) has increased share capital in the amount of 0.68 million shares with par value of 1 USD approximately 21.27 million baht. The number of shares (with par value of 1 USD) increased from 1.10 million shares to 1.78 million shares. As a result the Company’s ownership interest at 100% remains unchanged.
• On 6 August-2018 the Company entered into the share purchase agreement with a third party to acquire an 25% shareholding interest or 2.5 million shares of Far East Petroleum Sdn.Bhd. At a par value of 1 MYR totaling 2.5 million MYR or 20.47 million baht. The payment was made in August-2018. As a result the Company’s ownership interest increased from 70% to 95%.
• On 20 August-2018 Siamgas Global Investment Pte.Ltd.(“SGI”) has increased share capital in the amount of 0.10 million shares with par value of 1 USD, approximately 3.34 million baht. The number of shares (with par value of 1 USD) increased from 1.10 million shares to 1.88 million shares. As a result the Company’s ownership interest at 100% remains unchanged.
• On 20 August-2018 Siam Gas Power Pte.Ltd.(“SPW”) incorporated in Singapore registered an increased of its capital of 3.00 million shares with a par value of 1 USD or approximately 100.06 million baht. The number of shares increased from 60.28 million shares to 63.28 million shares with a par value of 1 USD. The Company has already paid the increase to SPW. As a result the Company’s ownership interest remains unchanged at 100%.
• In August-2018 Siam Gas Power Pte.Ltd.(“SPW”) entered into a share purchase agreement for acquisition of additional investment in a combined cycle power plant in Myanmar. SPW has additionally purchased shares of three companies which are Myanmar Lighting (IPP) Co.,Ltd. (“MLP”) MSN International Limited (“MSN”) and Asiatech Energy Pte.Ltd. (“AEP”) in the same proportion of 5% of registered and paid up capital in each company. In order to increase the shares in the combined cycle power plant with a total consideration of 8 million USD or equivalent to 262.07 million Baht. The funds come from the net working capital of the Group. SPW paid for shares capital to sellers of 2.4 million USD or equivalent to 62.18 million Baht in August-2018 and paid for the remaining balance of 5.60 million USD or equivalent to 199.89 million Baht to sellers in November-2018. As a result SPW’s ownership interest was increased to 41.10% of registered and paid-up shares and the transfer of shares was completed on 12 December-2018.
• On 5 October-2018 SLM has increased its share capital amount 103 million Baht with 10.30 million shares at per value of 10 Baht. The group still maintains 100% ownership interest in the subsidiary. The registration was completed in October-2018.
• On 24 October-2018 Siamgas Global Investment Pte.Ltd.(“SGI”) has increased its share capital amount 150,000 USD with 0.15 million shares at per value of 1 USD or equivalent to 4.95 million Baht. The number of shares increased from 1.88 million shares to 2.03 million shares. The Company’s ownership interest at 100% remains uncharged.
• On 26 November-2018 Siam Gas Power Pte.Ltd.(“SPW”) has increased its shares capital amount 185.22 million Baht with 5.60 million shares at per value of 1 USD per shares. The number of shares increased from 63.28 million shares to 68.88 million shares. The Company’s ownership interest at 100% remain uncharged.
• SGP issued unsubordinated unsecured and partially guaranteed bonds with bondholders representative totally 2,000 million baht on 4-6 December-2018 to institutional and/or high net worth investors with objective for using as working capital which is not related to the investment in asset of the Company.
• On 10 January-2019 Siam Gas Power Pte.Ltd.(“SPW”) incorporated in Singapore registered an increased of its capital of 1.00 million shares with a par value of 1 USD or approximately 32.78 million baht. The number of shares increased from 68.88 million shares to 69.88 million shares with a par value of 1 USD. The Company has already paid the increase to SPW. As a result the Company’s ownership interest remains unchanged at 100%.
• On 10 January-2019 Siamgas Global Investment Pte.Ltd.(“SGI”) has increased its share capital in the amount of 0.10 million shares with par value of 1 USD, approximately 3.30 million baht. The number of shares (with par value of 1 USD) increased from 2.03 million shares to 2.13 million shares. As a result the Company’s ownership interest at 100% remains unchanged.
• SGP issued unsubordinated unsecured bondholders representative totally 3,000 million baht on 25-29 January-2019 to institutional and individual investors with objective for using as working capital.
• On 26 February-2019 Siam Lucky Marine Co.,Ltd.(“SLM”) registered an increased of its capital of 4.00 million shares with a par value of 10 baht which equal to 40.0 million baht. The objective is for obtaining BOI privilege. As a result the Company’s ownership interest in SLM remains unchanged at 100%.
• On 24 April-2019 Siam Gas Power Pte.Ltd.(“SPW”) incorporated in Singapore registered an increased of its capital of 1.60 million shares with a par value of 1 USD or approximately 50.91 million baht. The number of shares increased from 69.88 million shares to 71.48 million shares with a par value of 1 USD. The Company has already paid the increase to SPW. As a result the Company’s ownership interest remains unchanged at 100%.
• On 16 July-2019 Siam Gas Power Pte.Ltd.(“SPW”) incorporated in Singapore registered an increased of its capital of 0.50 million shares with a par value of 1 USD or approximately 15.32 million baht. The number of shares increased from 71.48 million shares to 71.98 million shares with a par value of 1 USD. The Company has already paid the increase to SPW. As a result the Company’s ownership interest remains unchanged at 100%.
• On 3 September-2019 Siam Ethanol Exports Co.,Ltd.(“SEE”) registered an increased of its capital of 57.50 million shares with a par value of 10 baht which equal to 575.0 million baht. The Company has already paid the increase to SEE. As a result the Company’s ownership interest increased from 70% to 87.69%.
• On 2 September-2019 Singgas PteLtd. a 100% subsidiary of the Company has purchased 100% shares in Tropical Gas Pte.Ltd. (“TPC”) which operates petroleum distribution business in Singapore. The investment is at 1.44 million SGD or equivalent to 32 million Baht.
• On 24 September-2019 Siam LNG Co.,Ltd. (“SLNG”) which is a subsidiary of the Company has purchased shares of Thai Public Port Co.,Ltd. (“TPP”) in the proportion of 40.51% from existing shareholder which is equivalent to 1,361 million Baht. TPP operates liquid tank farm and deep sea port in Koh Sri-Chang district Chonburi province.
• During the third quarter ending 30 September-2019 Southern Myanmar Development Co.,Ltd. (“SMD”) which is a indirect associate of the Company registered an increased of its capital of 1.00 million shares which equal to 10,000 million kyat or approximately 204.0 million baht. The Company’s ownership interest remains unchanged at 33%.
• On 16 October-2019 Siam LNG Co.,Ltd. (“SLNG”) a subsidiary of the Company entered into share purchase of Thai Public Port Company Limited (“TPP”) in the proportion of 30% from existing shareholder in an amount of 1,000 million Baht.
• On 26 November-2019 Siam LNG Co.,Ltd. (“SLNG”) a subsidiary of the Company purchased additional shares of Thai Public Port Co.,Ltd. (“TPP”) In the proportion of 0.69% from existing shareholder in an amount of 23 million baht. TPP operates oil storage service and deep sea port in Si-Chang island Chonburi province.
• On 6 December-2019 Siam Gas Power Pte.Ltd. (“SPW”) a subsidiary of the Company jointly established Ruamur Pte.Ltd. (“RUM”) Which incorporate in Singapore with a registered share capital of 1,000 shares par value 1 Singapore Dollar. The business objective is to provide technical service regarding the energy business. The Group’s ownership interest is 41.10% with the paid-up capital of 305.09 USD or approximately 9,288 Baht.
• SGP issued subordinated unsecured bonds with bondholder representative totally 4,000 million baht on 20-22 January-2020 with objective for business operation and expansion including repayment of existing subordinated bonds.
• On 24 February-2020 Thai Public Port Co.,Ltd. (“TPP”) changed the name to Siam Tank Terminal Company Limited (“STT”).
• During the three-month period ended 31 March-2020 Siam Gas Power Pte.Ltd. (“SPW”) incorporated in Singapore registered a capital increase of 0.27 million shares with a par value of 1 USD per share or equivalent to approximately 8.46 million Baht. The number of shares increase from 72.23 million shares to 72.50 million shares. The Company has already fully paid the capital increase. The Company’s ownership in this subsidiary remains unchanged at 100%. The registration was completed during the period.
• During the nine-month period ended 30 September-2020 MyGaz Sdn.Bhd. (“MGM”) incorporated in Malaysia registered a capital increase of 38 million shares with a par value of 1.00 MYR per share or equivalent to approximately 282.12 million Baht. The number of shares increase from 12.00 million shares to 50.00 million shares. The Company’s ownership in this subsidiary remains unchanged at 70 %. The registration was completed during the period.
• On 21 January-2020 Siam LNG Co.,Ltd. (“SLNG”) acquired additional 28.49% of the registered and paid-up capital of Siam Tank Terminal Co.,Ltd. (“STT”) for 932 million Baht. Currently SLNG holds share in STT in the proportion of 99.69
• On 24 June-2020 MyGaz Sdn.Bhd. (“MGM”) which is a subsidiary in Malaysia established Far East Mygaz Service Snd.Bhd. (“FMG”) with total registered share capital of 2,000 shares with a par value of 1 MYR per share. The Group owns 100% shareholding interests in this subsidiary. The principal business operation is a transportation business.
• On 1 July-2020 Siam Quality Steel Company Limited (“SQS”) a subsidiary of the Company entered into a share purchase and sale agreement to acquire the gas cylinder business of Linh Gas Cylinder Co.,Ltd. (“LIN”) for 178,572 shares accounted for 69.69% of Linh’s registered and paid-up capital for a total price of 44.64 million Baht. LIN manufactures LPG cylinders and sell cylinders to domestic and foreign countries.
• During the period ended 31 December-2020 Southern Myanmar Development Co.,Ltd. (“SMD”) registered the capital increase of 75,000 shares total of 750 million Myanmar Kyat equivalent to 16.50 million Baht by converting loans from shareholders to be capital amounting to 4.87 million Baht which representing the Group’s portion of 5.45 million Baht and remaining unpaid for shares of 0.58 million Baht. The Company’s ownership in this subsidiary remains unchanged at 33.00%
• During the period ended 31 December-2020 MSN International Ltd., (“MSN”) has completed the liquidation process on August-2020 according to a resolution of liquidation approval from the board of directors of-2019.
• During the period ended 31 December-2020, TSM Co.,Ltd. has completed the liquidation process on September-2020 according to a resolution of liquidation approval from the board of directors of-2019.
Business Overview
LPG BUSINESS
SGP operates Liquefied Petroleum Gas (LPG) trading and other relating business. SGP is a leading LPG trader in Thailand and overseas for almost 40 years. Currently SGP operates in Thailand, Singapore, Vietnam, China and East Malaysia.
THAILAND BUSINESS
SIAMGAS AND PETROCHEMICALS PUBLIC COMPANY LIMITED (“SGP”)
SGP is one of a leading LPG trader in Thailand and operates under trademark “SIAMGAS”. SGP distributes LPG through three channels which are 1. Cooking gas – SGP sell LPG to household and small enterprise with 4 kg. 15 kg. and 48 kg. cylinder. 2. Automobile gas – SGP sell LPG through gas station nationwide. 3. Industrial gas – SGP sell LPG in bulk to large industries.
UNIQUEGAS AND PETROCHEMICALS PUBLIC COMPANY LIMITED (“UGP”)
UGP established on 12 January 1982, has its current registered capital of 200 million baht and paid-up capital of 105 million baht. SGP is its current major shareholder holding 99.51 % of the paid-up capital. The business of UGP is filling and distributing LPG, ammonia, and other petrochemicals such as butane, propane, and propellant under “Unique Gas” trademark, and UGP operates its business as a trader under section 7 of Fuel Trade Act, B.E. 2543.
(For more information please visit UGP website at www.uniquegas.co.th)
OVERSEA BUSINESS
SINGAPORE >>>
SINGGAS (LPG) PTE. LTD. (“SINGGAS”)
SINGGAS, formerly known as Shell Gas (LPG) Singapore Private Limited is a subsidiary registered in Singapore to operate LPG distribution business. On 30 July 2010, SGP purchased 100% shares of Shell Gas (LPG) Singapore Private Limited from SHELL GAS (LPG) HOLDINGS B.V., then 5% of registered capital was sold to outsider on 29 December 2010.
(For more information please visit SINGGAS website at www.singgas.com.sg)
SIAM GAS TRADING PTE. LTD. (“SGT”)
SGT is a subsidiary which SGP holds 100% shares and registered in Singapore with the capital of 500,000 Singapore Dollar. SGT operates LPG trading business.
VIETNAM >>>
SUPERGAS COMPANY LIMITED (“SUPERGAS”)
SUPERGAS is a subsidiary which SGP holds 100% shares. SUPERGAS is a registered company operating LPG business in Vietnam. SGP purchased 100% share SUPERGAS from SHANGHAI CROWN LIMITED on 2 March 2010. On 19 October 2015 SUPERGAS CO., LTD. (“SGV”) and CITYGAS CO., LTD. (“CGV”) are subsidiaries of SGP. They have consolidation and operation on behalf of SGV. The purpose of merger aims to strengthen of business operation in Vietnam; however, net of asset, liabilities and obligation of CGV has been transfer to SGV comply by commercial law governing mergers of company limited in Vietnam. After merger, registered capital of SUPERGAS is at 425.50 million baht.
CITYGAS NORTH COMPANY LIMITED (“CITYGAS NORTH”)
CITYGAS NORTH is a joint venture which SGP holds 79.6% shares and is registered in Vietnam to operate liquefied petroleum gas distribution business with registered capital of 149.90 million baht. SGP purchased all of issued share capital of Shell Gas Haiphong Limited from Shell Gas (LPG) Holding B.V. at 0.3 million USD and all transactions have completed on 18 January 2013. Later, “Shell Gas Haiphong Limited” has been renamed to “CITYGAS NORTH Company Limited”.
CHINA >>>
SINOSIAMGAS AND PETROCHEMICALS LIMITED (“SINOSIAM”)
SINOSIAM is a subsidiary which SGP indirectly holds 100% shares. SINOSIAM is a fully integrated petroleum distribution business in China. The facilities of SINOSIAM include depot, jetty for importing, exporting, and throughput, facilities for distribution by vessel tankers and road tankers, and an LPG cylinder filling plant. SGP purchased 100% equity interest of BP Zhuhai Limited on 24 December 2010, and now operates the business under SINOSIAM.
SIAM OCEAN GAS & ENERGY LIMITED (“SOGEL”)
SOGEL is a subsidiary which SGP indirectly holds 100% shares and is registered in China. SOGEL is a fully integrated petroleum distribution business in China. The facilities of SOGEL include depot, jetty for importing, exporting, and throughput, facilities for distribution by vessel tankers and road tankers, and SGP purchased 100% equity interest of SOGEL on 30 June 2011.
MALAYSIA >>>
MYGAZ SDN. BHD. (“MYGAZ”)
MYGAZ is a subsidiary which SGP directly holds 70.0% shares and is registered in Malaysia to operate petroleum distribution business with registered capital equals to 12.0 million Malaysian ringgit. MYGAS has purchased assets and liquefied petroleum gas business of Shell Timur SDN. BHD. (“STSB”) in East Malaysia at 10.0 million ringgit. Deposit has been placed on 3 October 2012 and asset and liquefied petroleum have already been transferred on 29 May 2013.
LOGISTIC
SGP operates in land and marine transportation of LPG and ammonia under two subsidiaries which are Lucky Carrier Co., Ltd. (“LCR”) and Siam Lucky Marine Co., Ltd. (“SLM”). Both subsidiaries registered under section 12 of Fuel Trade Act, B.E. 2543 and applied for oil and LPG transportation license under section 13 bis of Fuel Trade Act, B.E. 2521 as amended by the Fuel Trade Act, (No. 2) B.E. 2522 by the Department of Commercial Registration. SGP set up subsidiaries to operate transportation business to support SGP’s main business. This will keep business most versatility.
LAND TRANSPORTATION
LUCKY CARRIER COMPANY LIMITED (“LCR”)
Lucky Carrier Co., Ltd. was established on 13 August 1991 with SGP as a major shareholder holding 99.99% of the paid up capital. LCR registered under section 12 of Fuel Trade Act, B.E. 2543 and operates LPG and oil transportation by road tankers. Currently, the fleet comprised of 28 oil road tankers with combined capacity of 948,000 liters , 280 LPG road tankers with combined capacity of 3,143 tons, and two road tankers for other chemical product with combined capacity of 68,000 liters. LCR provides transportation service nationwide.
MARINE TRANSPORTATION
SIAM LUCKY MARINE COMPANY LIMITED (“SLM”)
SLM is a subsidiary of SGP with SGP holding directly 45.9% and holding indirectly through LCR and UGP 39.4% and 14.7% respectively. SLM operates marine transportation of petroleum and LPG in Thailand and Oversea, and has a license for LPG and oil transportation under section 12 of Fuel Trade Act, B.E. 2543. Currently, SLM has 20 LPG tanker vessels with the combined loading capacity of 116,553 tons, and 3 ammonia tanker vessels with the combined loading capacity of 2,573 tons.
LPG Cylinder Manufacturer
SGP operates LPG cylinder manufacturer business through a direct subsidiary Siam Quality Steel Co., Ltd. (“SQS”). SGP set up SQS to operate cylinder manufacturer business to support SGP’s main business. This will keep business most versatility.
SIAM QUALITY STEEL COMPANY LIMITED (“SQS”)
SQS is a direct subsidiary with SGP holding 99.99% of the paid up capital. SQS operates LPG cylinder manufacturer including LPG cylinder for cooking usage and LPG canister for automobile. The main customers of SQS are SGP UGP and other companies in Siamgas group in Thailand and overseas.
(For more information please visit SQS website at www.siamqualitysteel.co.th)
Corporate Structure
Management Structure
Management Chart
MR.WORAWIT WEERABORWORNPONG (72 years)
Chairman / CEO
Educational Credential :
• An honorary doctorate of Rajamangala University of Technology Thanyaburi
• Bachelor’s degree of Bangkok Thonburi University
Other Academic :
• Certificate of Thai Institute of Directors(IOD)
• Directors Accreditation Program (DAP)
MRS.PATCHARA WEERABORWORNPONG (69 years)
Director / Executive director
Educational Credential :
• High School
Other Academic :
• Certificate of Thai Institute of Directors(IOD)
• Directors Accreditation Program (DAP)
MR.SUPACHAI WEERABORWORNPONG (45 years)
Director / Managing Director
Educational Credential :
• M.B.A. SasinGraduate Institude of Chulalongkorn University
• B.S. Civil Engineering Michigan State University, U.S.A.
Other Academic :
• Certificate of Thai Institute of Directors(IOD)
• Directors Accreditation Program (DAP)
MISS.PATCHARAWADEE WEERABORWORNPONG (32 years)
Director / Deputy Managing Director
Educational Credential :
• M.A. Business Management , Regents Business School London
• B.S.C. Applied Business Management, Imperial College London
Other Academic :
• Certificate of Thai Institute of Directors(IOD)
• Directors Accreditation Program (DAP)
MR.SOMCHAI KO-PRASOBSUK (56 years)
Director
Educational Credential :
• Bachelor degree in Business Administration faculty of The University of the Thai Chamber of Commerce
Other Academic :
• Certificate of Thai Institute of Directors(IOD)
• Directors Accreditation Program (DAP)
MR.VIROJ KLANGBOONKLONG (74 years)
Independent Director / Chairman of Audit Committee
Educational Credential :
• Bachelor degree in Engineering faculty of Chulalongkorn University
• Master Degree in Business Administration of Thammasat University
• Mechanical Engineering of Asian Institute of Technology (AIT)
Other Academic :
• Certificate of Thai Institute of Directors(IOD)
• Directors Accreditation Program (DAP)
MR.HARN CHIOCHARN (73 years)
Independent Director / Member of Audit Committee
Educational Credential :
• Bachelor degree in law faculty at Thammasat University
• Degree in government with private class 6 of National Defence college
Other Academic :
• Certificate of Thai Institute of Directors(IOD)
• Directors Accreditation Program (DAP)
MRS.SUDJIT DIVARI (71 years)
Independent Director / Member of Audit Committee
Educational Credential :
• Bachelor degree of accounting Faculty of Commerce and Accounting of Chulalongkorn University
• Master degree of Business Administration Faculty of Commerce and Accounting of Thammasat University
• MBA State University of California at Fresno, U.S.A.
Other Academic :
• Certificate of Thai Institute of Directors(IOD)
• Directors Accreditation Program (DAP)
• Directors Certificate Program (DCP)
• Audit Committee Program (ACP)
Anti-Corruption Policy
The Company’s directors, executives and employees are prohibited to request, offer and accept any and all forms of corruption, directly and indirectly and this policy also applies to all relevant departments. The Company has established anti-corruption procedures and compliance of this anti-corruption policy has been constantly reviewed to make it consistent to the changes in business, law, policy, rules, notification, regulations and to preserve reputation of the Company. All directors, executives and employees shall strictly comply with this policy as follows:
- The directors, executives and employees determine to build corporate culture which adheres to zero tolerance policy for corruption when dealing business with the public sector and private sector or any individual person.
- The directors and the management are well aware of importance on dissemination of knowledge and understandings concerning anti-corruption policy and practices, including matters of law of Thailand to the persons who shall deal business with the Company and the Company’s stakeholders.
- The directors, executives and employees at all levels must strictly comply with the anti-corruption policy and code of conduct and must not get involved in any and all forms of corruption directly or indirectly.
- The Company has specified a policy when conducting any activity which might be exposed to corruption to be observed by all directors, executives and employees as follows:
- Political assistance. The Company has a policy not to provide any political assistance as it has a political neutrality policy and does not give preference to any political party or group. It will not support any political activities of any particular political party and it will not support or provide assistance to any candidate for public office directly or indirectly.
- Charitable donation and fundraising with purposes for social, economic and cultural development; for building up good reputation of the Company and for strengthening business relations. The Company has a policy to oversee and supervise the charitable donation and fundraising activities to ensure that they are conducted with transparency and full compliance with applicable laws and regulations, and they must not be used as a means of bribery and corruption. For these purposes, clear, precise and effective operating guidelines have been established and all evidencing document must be able to be verified.
- Giving or receiving gift and business entertainment to the person or public and private sectors must be correctly and transparently conducted pursuant to the operating practices. They shall not be conducted with purposes for the return of benefits or others which may be considered as corruption. Request for approval and criteria for consideration shall be as per the specified Gift and Business Entertainment Procedures.
- The Company must not pay or receive any facilitation payment or bribery for conducting current or potential business via the person acting on behalf of the Company, the advisor, the broker, the counterparty, the business partner or the middleman who are under the Company’s control.
- The Company has stipulated regulations on payment, gifts or assets by specifying applicable limits and approval authority and also specified that clear evidencing document for such payment must be presented to ensure that disbursement of money, giving of gift or assets shall not be made with purpose of corruption. Information and details must be inspected to ensure compliance with the specified operating practices.
- Sales and marketing. The Company has sales and marketing inspection process in place to ascertain that such activities have been correctly and transparently conducted and there will not be any room for corruption.
- Procurement and employment: The Company has inspection process for procurement and employment to make sure that such activities have been conducted with transparency, integrity and compliance with applicable laws including the Company’s procurement and employment regulations.
- Human resources management: Processes for personnel recruitment, promotion, training, performance evaluation must be able to reflect the Company’s intention and practices on anti-corruption policy.
- Implementation of anti-corruption policy
- Communicate anti-corruption policy and practices to the directors, executives and employees as well as to the person who will act on the Company’s behalf, the advisor, the broker, the counterparty, the business partner including the subsidiaries, the associated companies and other companies that the Company has controlling power for their implementation via the specified channels.
- There must be transparent and correct financial reporting preparation procedures in place. In addition, corruption risk assessment procedures must be specified and included as a part of the enterprise risk factors and appropriated and effective internal control system must be established to prevent unappropriated operations.
- Secure and accessible channel must be provided for the employees and other persons for requesting for recommendation on compliance with the anti-corruption policy and practices and to send information on misconduct or compliant by ensuring that the informant must be appropriated protected.
Click for more information - The Company’s employees shall not neglect or ignore when witnessing any act which could be regarded as corruption related to the Company. He or she should inform a clue or file a complaint via the channel specified by the Company and provide cooperation in finding the fact. When in doubt or require any recommendation, employees should consult with the designated party/entity via the channel provided by the Company.
- The Company shall provide equitable treatment and protection and shall not demote, impose penalty or negative result to the employee who rejects to inform a clue or file a complaint on corruption relevant to the Company. There must be a protection measure for the informant, the complainant or the person who cooperates on reporting the corruption act as per specified.
- Any person who fails to comply with the Company’s anti-corruption policy or practices shall be imposed with disciplinary penalty pursuant to the regulations specified by the Company, which shall include termination of employment, if the Company deems necessary, and shall also be penalized pursuant to the relevant laws.