                                   - 39 -

10. ҹСԹмšôԹҹ
    10.1 ͺѭйººѭշӤѭ  к
         (1)  ͼͺѭ  .Ե   óҡ  ҡӹѡҹ  ѷ ó ӡѴ
         (2)   3 շҹ  ͺѭ§ҹõǨͺẺ
͹
         (3)  ººѭշӤѭ
              1.  ѷ ѺФµࡳԷ
              2.  ѷ  駤˹ʧ¨٭ ¾Ԩó١˹  Ш੾
·ҴҨ¡ҹ˹ʧ¨٭
              3.  ѷ ҤԹҤ͵ҤҷعҤҵҴ Ҥ㴨еӡ
Ըҡ͹͡͹
              4.  ѷ ѹ֡Թŧعѷкѷ ºѹ֡Ҥҷع  Ѻ
óշѷ鹵ӡ  20  ͧع¹ͧѷŧع   Шкѹ֡Ըǹ 
Ѻóշѷ鹵 20 仢ͧع¹ͧѷкѷ
              5.  ѷ ѹ֡ԹѾõҤҷعѧѡҤ  Ҥ
ӹǳԸ鹵çءҹ»ҳ Թѵ٧ش˹ɮҡ
觻ҳѧ
                  Ҥ觻١ҧ             30   
                  ͧҧᾷз      10   
                  ͧеԴ             10   
                  ҹ˹                      10   
                  ѺԹѾ÷ҡ͹ .. 2533  ѷ ӹǳҤҵ
Ըաͧع (Sinking Fund Method)
              6.  ͵Ѵѭ  ѷ Ѵ˹µԸ鹵ç   10 
              7.  ¡÷ǡѺԹҵҧ    ӹǳԹҷѵš
¹ . ѹԴ¡ù  ԹѾ˹ԹԹҵҧѧҧ .ѹ
   ӹǳԹҷѵš¹ͧҤ . ѹ   ТҴعҡ
õԹҵҧ  ѹ֡ͤԴ
              8.  õ   ӹǳ¡áطѺմ¨ӹǹ¶ǧ˹ѡ
ͧѭ͡¡ҧ
    10.2 ػҹСԹмšôԹҹ
         (1)  ҧػ âҴع ЧԹʴ ºº 3 շҹ
Ǵش ѵТͧ¡õʹ (common size ratio)



                                      - 40 -                         

                                 ѷ çҺ˧ ӡѴ (Ҫ)
                                               
                                 . ѹ 31 ѹҤ 2538, 2539  2540

ԹѾ
                                       2538                    2539            
ԹѾع¹                                                                  
     ԹʴԹҡҤ          8,985,794.77   0.8      7,761,897.24   0.6  
     ԹѺ                              00.00   0.0             00.00   0.0  
     ١˹ä                    29,246,988.50   2.5     38,353,505.03   3.0   
     ԹҤ                   27,174,656.89   2.4     31,237,599.16   2.5  
     ԹѴԹѾ                12,000,000.00   1.0             00.00   0.0  
     ԹѾع¹               6,667,095.86   0.6      6,255,450.19   0.5  
     ԹѾع¹             84,074,536.02   7.3     83,608,451.62   6.6    
Թŧعѷкѷ      496,025,982.59  43.1    559,481,789.72  44.0  
Թѷкѷ            00.00   0.0     70,200,000.00   5.5  
Թ Ҥػó                563,998,869.72  49.0    554,095,904.06  43.5  
ԹѾ                           6,577,938.59   0.6      5,233,427.77   0.4  
ԹѾ               ҷ    1,150,677,326.92   100  1,272,619,573.17  100       















 








        2540           
                       
    3,428,143.26  0.2  
        00        00   
   39,812,910.15  2.1  
   32,201,146.44  1.7   
         -         -   
   43,177,741.35  2.3  
  118,619,941.20  6.3  
  485,085,486.58 25.4  
  348,038,130.82 18.3  
  949,994,386.70 49.8  
    4,092,341.62  0.2  
1,905,830,286.92  100  

















                                                         - 41 -

                                           ѷ çҺ˧ ӡѴ (Ҫ) 
                                                          

              ˹Թǹͧ       
                                                2538                 2539          
˹Թع¹                                                                        
   ԹԡԹѭԹҡҤ          34,400,973.90   3.0   55,653,798.67  4.4
   ԹҡʶҺѹԹ                     239,930,000.00  20.8  299,245,000.00 23.5
   ˹ä                              42,004,975.62   3.6   50,751,784.69  4.0
   ǹͧ˹ԹǷ֧˹˹觻  84,069,788.90   7.3  109,900,916.51  8.6
   Թ鹨ҡ                        -          -         -          - 
   ԹԵԺؤŤҧ                     8,736,245.40   0.8   14,545,886.84  1.1
   ˹                                      -          -         -          - 
   ¤ҧ                           30,685,056.64   2.7   35,150,640.92  2.8
   Թҡѷ кѷ          10,000,000.00   0.9            0.00  0.0
   ˹Թع¹                            2,705,654.01   0.2    2,443,500.34  0.2
   ˹Թع¹                         452,532,694.47  39.3  567,691,527.97 44.6
Թ                             254,328,098.79  22.1  229,307,677.55 18.0
˹Թ                                   706,860,793.26  61.4  796,999,205.52 62.6
ǹͧ                                                                        
   ع͹                                                                        
     ع¹                                                                    
       ѭ 15,000,000  @ 10 ҷ      150,000,000.00        150,000,000.00     
     ع͡¡Ť                                                   
       ѭ 12,000,000  @  10 ҷ   120,000,000.00  10.4  120,000,000.00  9.4 
   ǹԹŤ                           209,511,000.00  18.2  209,511,000.00 16.5
   ǹԹعҡõҤҷԹ                           0.00   0.0            0.00  0.0
                                                                           
     Ѵ-عͧ                      10,260,482.88   0.9   14,230,955.19  1.1
     ѧѴ                          104,045,050.78   9.1  131,878,412.46 10.4
   ǹͧ                         443,816,533.66  38.6  475,620,367.65 37.4
˹Թǹͧ             ҷ   1,150,677,326.92 100.01,272,619,573.17100.0









       2540

   80,415,583.89   4.21 
  405,117,000.00  21.25 
   53,290,703.74   2.80 
  113,590,722.63   5.96 
   13,500,000.00   0.71 
         -          -   
   38,872,220.00   2.00 
   37,971,426.20   1.99 
   99,700,000.00   5.23 
    3,049,421.08   0.16 
  845,507,077.54  44.35 
  468,478,958.23  24.58 
1,313,986,035.77  68.93 
                        
                        
                        
  150,000,000.00        
                        
  120,000,000.00   6.30 
  209,511,000.00  10.99 
  422,862,531.00  22.19 
                        
   14,230,955.19   0.75 
 (174,760,235.04) (9.16)
  591,844,251.15  31.07 
1,905,830,286.92  10.0  





                                              - 42 -

                                 ѷ çҺ˧ ӡѴ (Ҫ)
                                        âҴعС
                            Ѻشѹ31 ѹҤ2538, 2539  2540 

                                                2538               2539            
                                                                              
   ҡԨçҺ                  621,837,370.93  98.0740,241,118.82  97.1
   ҡѷкѷ             10,302,793.86   1.6  9,765,269.29   1.3
                                      2,684,119.32  0.4  11,928,309.09   1.6
                                   634,824,284.11 100.0761,934,697.20 100.0
                                                                                   
                                                                            
   鹷ع㹡ѡҾҺ                     424,370,536.93  66.9498,553,406.82  65.5
   㹡âСú               70,624,562.32  11.1 77,794,896.53  10.2
   ͡¨                                57,827,510.23   9.1 76,270,731.59  10.0
   ҤҷعҡԹŧع㹺ѷ                         0.00   0.0          0.00   0.0
   Թ                                 21,751,854.98   3.4 29,906,216.11   3.9
                                 574,574,464.46  90.5682,525,251.05  89.6
(Ҵع)طԡ͹¡þ                 60,249,819.65   9.5 79,409,446.15  10.4
Ҵعҡкš¹ԹẺµ              0.00   0.0          0.00   0.0
 (Ҵع) ط                            60,249,819.65   9.5 79,409,446.15  10.4
ǡ ѧѴõ鹧Ǵ                94,807,722.11      104,045,050.78      
ǡ ѺاԹŧع                                    0.00          394,387.84      
ѡ  Թѹ                                (48,000,000.00)     (48,000,000.00)     
    ͧ                          (3,012,490.98)      (3,970,472.31)     
ѧѴû§Ǵ                 104,045,050.78      131,878,412.46      
طԵ.-                                                                       
     (Ҵع) ͹¡þ                       5.02                6.62      
    ¡þ                                       0.00                0.00      
     (Ҵع) ط                  ҷ            5.02                6.62      







 




       2540

  796,758,574.81  93.18 
            0.00   0.00 
   58,322,766.92   6.82 
  855,081,341.73 100.0  
                        
                        
  550,981,759.74  64.43 
   83,259,135.29   9.73 
  122,053,531.17  14.27 
  172,367,373.14  20.15 
            0.00   0.00 
  928,661,799.34 108.58 
  (73,580,457.61) (8.58)
 (185,058,189.89)(21.60)
 (258,638,647.50)(30.18)
  131,878,412.46        
            0.00        
  (48,000,000.00)       
            0.00        
 (174,760,235.04)       
                        
           (6.13)       
          (15.42)       
          (21.55)       






                                              - 43 -

                                  ѷ çҺ˧ ӡѴ (Ҫ)
                                               Թʴ
                              Ѻ شѹ 31 ѹҤ 2538, 2539  2540
 
                                                         2538          2539      
ԹʴҡԨԹҹ                                                      
   ط                                          60,249,819.65  79,409,446.15 
   ѺзطԹʴѺ()                                                
      ҡԨԹҹ:-                                                        
         Ҥ                                 38,864,560.12  42,824,262.30 
         µѴѭ                                1,187,661.48   1,344,510.82 
         ˹٭                                        1,833,234.00   1,709,099.00 
         Ҵعҡš¹ԹѾ                     230,694.55      14,887.83 
         ҴعҡâԹѾ                          371,456.16           0.00 
         ()Ҵعҡŧع㹺ѷ            (10,302,793.86) (9,765,269.29)
         ()Ҵعҡѵš¹Թҵҧ     921,466.75   4,588,149.53 
         ١˹äŴŧ ()                         793,824.74 (10,815,615.53)
         ԹҤ                            (5,998,057.50) (4,062,942.27)
         ԹѴԹѾŴŧ()                            0.00  12,000,000.00 
         ͡¤ҧѺ                                    0.00           0.00           
         ԹԵԺؤŤáͧ                       0.00           0.00 
         ԹѾع¹Ŵŧ()                 (3,601,258.73)    411,645.67 
         ˹ä                             5,996,899.73   8,746,809.07 
         ˹                                        0.00           0.00 
         ¤ҧ                          3,898,432.70   4,465,584.28 
         ԹԵԺؤŤҧ(Ŵŧ)            (4,397,079.45)  5,809,641.44 
         ˹Թع¹(Ŵŧ)                       23,020.98    (262,153.67)
            ԹʴطԨҡԨԹҹ               90,071,881.32 136,418,055.33 














     2540
   
 (258,638,647.50)


   46,549,323.28
    1,141,086.15
    1,247,393.00
           00.00
           00.00
  172,367,373.14
  184,062,610.76
   (1,970,380.32)
     (963,547.28)
            0.00
  (27,437,832.18)
  (10,891,834.50)
      670,957.72
    2,538,919.05
   38,872,220.00
    2,820,785.28
  (14,545,886.84)
      605,920.74
  136,428,460.50








                                         - 44 -

                                 ѷ çҺ˧ ӡѴ (Ҫ)
                                           Թʴ
                                 . ѹ 31 ѹҤ 2538, 2539  2540
             
                                                          2538             2539    
ԹʴҡԨŧع                                            
    ԹŧعԹѷ鹠             (212,972,500.00  (72,223,650.00) 
    ԹŧعԨ                             0.00  (51,272,500.00) 
    Թ Ҥػó-ط                      (19,709,353.48) (32,936,184.47) 
          Թʴط㹡Ԩŧع              (232,681,853.48) (156,432,334.47)
ԹʴҡԨѴԹ                                                          
    ¤׹Թѷ                               10,000,000.00   (10,000,000.00)
    Թ鹨ҡ                      20,000,000.00             0.00 
    ԹԡԹѭԹҡҤ              78,426,499.71    80,252,824.77 
    Թ                                       0.00             0.00 
    ǹͧ˹Ƿ֧˹ 1 (Ŵŧ)鹖  35,541,141.86    25,831,127.61 
    ˹Թ(Ŵŧ)                           50,128,087.88   (29,293,570.77)
    Թѹ                                      (48,000,000.00)  (48,000,000.00)
          Թʴط㹡ԨѴԹ               146,095,729.45    18,790,381.61 
Թʴط(Ŵŧ)                                   3,485,757.29    (1,223,897.53)
Թʴ  ѹ 1 Ҥ                                  5,500,037.48     8,985,794.77 
Թʴ  ѹ 31 ѹҤ                                 8,985,794.77     7,761,897.24 




















       2540

 (348,142,220.00)
  (27,666,980.82)
  (19,585,274.92)
 (395,394,475.74)

            0.00
   13,500,000.00
  114,211,785.22
   99,700,000.00
  (28,354,241.36)
  103,574,717.40
  (48,000,000.00)
  254,632,261.26
   (4,333,753.98)
    7,761,897.24
    3,428,143.26
   













                                       - 45 -

         (2)  ҧػѵǹҧԹӤѭ
ѵǹҾͧ (LIQUIDITY RATIO)                                                   
ѵǹҾͧ               = ԹѾع¹/˹Թع¹                      () 
ѵǹҾͧع         = ԹʴԹҡҤ+ѡѾ㹤ͧâͧҴ()
                                + ١˹äеԹѺ/˹Թع¹
ѵǹҾͧԹʴ     = ԹʴҡôԹҹ/˹Թع¹       ()  
ѵǹع¹١˹ä       = ط/(١˹ä+ԹѺä) ()         ()
˹             = 360/ѵǹع¹١˹ä                    (ѹ) 
ѵǹع¹ԹҤ      = 鹷ع/ԹҤ ()                      () 
ҢԹ           = 360/ѵǹع¹ԹҤ                   (ѹ) 
ѵǹع¹˹           = ͵鹷ع/(˹ä+Թ¡ä)()  ()
Ҫ˹                = 360/ѵǹع¹˹                        (ѹ) 
Cash Cycle                    = ˹ + ҢԹ
                                - Ҫ˹                               (ѹ) 

ѵǹʴö㹡ҡ (PROFITABILITY RATIO)
ѵҡâ鹵                  = â鹵/ط                                (%)  
ѵҡط                   = ط/                               (%)  
ѵҼŵͺ᷹             = ط/ǹͧ()                      (%)  

ѵǹʴԷҾ㹡ôԹҹ (EFFICIENCY RATIO)
ѵҼŵͺ᷹ҡԹѾ         = ط/ԹѾ ()                       (%)
ѵҼŵͺ᷹ҡԹѾ     = ط + Ҥ/ԹѾط ()      (%)
ѵҡعͧԹѾ           = /ԹѾ ()                      ()

ѵǹº·ҧԹ (FINANCIAL POLICY RATIO)                                 
ѵǹ˹Թǹͧ      = ˹Թ/ǹͧ                            ()  
ѵǹöд͡   = èҡôԹҹ͹͡¨/͡¨ ()  
ѵǹöм١ѹ = èҡôԹҹ/͡¨ +                 ()   
                                {(Թ+Թѹ)/(1-ѵ)}
ѵǹöм١ѹ = ԹʴҡôԹҹ+͡¨/            ()  
(Cash Basis)                    (͡¨+Թ+Թѹ)
ѵҡèԹѹŠ=Թѹ/ط                                 (%)                                






 2538  2539   2540 
 0.19  0.15   0.14       
 0.08  0.08   0.05 
                   
 0.23  0.27   0.19 
20.35 21.35  21.67 
16.93 18.65  16.61 
17.55 17.07  17.37 
23.05 22.56  20.73 
10.88 10.75  10.59 
35.64 36.65  33.99 
                   
 4.34  4.56   3.35 
                   
                   
33.84 35.58  35.56 
 9.49 10.42 (30.25)
13.77 17.27 (48.46)
                   
                   
 5.71  6.55 (16.27)
17.27 21.86 (22.33)
 0.60  0.63   0.54 
                   
                   
 1.59  1.68   2.22 
 2.42  2.43  (1.12)
 0.19  0.20  (0.21)
                   
 0.21  0.28  (0.29)
                   
79.67 60.45   0.00 



                                    - 46 -

         (3)  ػҹСԹмšôԹҹͧѷкѷ
ѷ
                                        2538               2539               2540  
ѷ çҺ§  ӡѴ
ԹѾ                          988,683,624.14   1,264,351,249.42   1,429,803,589.44
˹Թ                            556,756,370.53     804,982,023.43   1,341,374,171.70
ǹͧ                        431,907,253.61     459,369,225.99      88,429,417.74
ҡâ                     335,632,040.04     422,418,519.75     367,548,817.60
                           342,859,001.58     442,442,991.07     435,201,607.88
â鹵                           105,503,782.41     150,861,767.44     158,083,457.06
(Ҵع)ط              ҷ     27,787,966.62      48,381,172.38    (316,835,808.25)

ª͡ú  մѧ

1.  ..þѹ            سѡ               ˹              üѴ
2.  ..             蹵С               "                 ӹ¡çҺ
3.  ..Ѫ            ѹʶԵ                "                 ú
4.  ..Ե               ѵšҳԪ           "                 ú
5.  ..Ѫ              óԹ               "                 ú
6.  ..ͪҵ           ҭԷѡ             "                 ú
7.  ..ѵ                               "                 ú
8.  ..ӹҭ                             "                 ú














                                   - 47 -

ѷ çҺž  ӡѴ                       2539               2540
ԹѾ                                     238,318,068.95     288,799,013.10
˹Թ                                       161,114,256.09     288,284,151.03
ǹͧ                                    77,203,812.86      60,514,862.07
ҡâ                                 15,241,888.85      61,559,188.43
                                       15,241,888.85      61,826,596.59
â鹵                                          360,908.91      21,577,605.30
(Ҵع)ط                         ҷ     (4,889,916.45)    (16,652,240.16)
ԴԹԨ ѹ 19 ԧҤ 2539

ª͡ú  մѧ

 1.  ..ҹ      ҭѵҡ              ˹         ӹ¡ý¡ᾷ
 2.  ..þѹ      سѡ                      "            ӹ¡ýº
 3.  ..ؤ       Ԫ                      "            ӹ¡ýºԡ
 4.  ..ح       ԹԾѹ                    "            ӹ¡ý¡Ԩ
 5.  ..Шҧǧ  Ѳ                     "            
 6.  ..ѡ      ѵԺ                   "            
 7.  ..س        ó                    "            
 8.  ..ѭ        ʴ                     "            
 9.  ..ͪҵ     ҭԷѡ                  "            
10.  ..Ѫ        óԹ                    "            
11.  ..Ѫ      ѳʶԵ                      "            
12.  ..       عС                    "            












                                   - 48 -

ѷ çҺͧ  ӡѴ                    2539               2540
ԹѾ                                    248,226,357.01     275,471,270.04
˹Թ                                      171,988,425.92     233,136,610.58
ǹͧ                                   76,237,931.09      42,334,659.46
ҡâ                                 5,530,736.00      22,891,477.62
                                       5,530,736.00      23,189,722.17
(Ҵع) 鹵                              (8,737,626.21)        527,301.92
(Ҵع) ط                      ҷ     (11,631,731.12)    (34,419,271.63)
ԴԹԨ ѹ 29 ԧҤ 2539

ª͡ú  մѧ

1.  .. ح       Եʴ           ˹         ӹ¡ýº
2.  .. ͪҵ     ҭԷѡ             "            
3.  .. þ       ҹѹ               "            
4.  .. Թ      ѹ൪               "            
5.  ¨٭          ѵ               "            
6.  ʡ          ʡżاࢵ            "            
7.  ..ҹԵ       ǷҹǪ              "            
8.           ྪô                 "            
9.  ..Ѫ         óԹ               "            















                                   - 49-

                              2538              2539              2540
ѷ ѧѳ ӡѴ
ԹѾ                 33,697,473.48     40,848,361.93     37,817,594.76
˹Թ                   18,659,530.06     25,384,868.63     27,028,098.43
ǹͧ               15,037,943.42     15,463,493.30     10,789,496.33
ҡâ            64,238,180.22     55,180,694.50     83,170,649,67
                  64,334,265.48     55,294,596.21     83,264,814.76
â鹵                  18,928,997.64     22,940,310.85     21,423,803.38
ط             ҷ      837,803.92        425,549.88     (4,673,996.97)

ª͡ú  մѧ

1.  .. 侾ó       ѭ           ˹         иҹѷ
2.  ҧ             ࡵ           "            üѴ
3.  ³Ѱز                         "            
4.  ¡ɮҧ           Ш         "            
5.  ..             Թ           "            
6.  ¸ҡ             áԨا         "            
7.  ҧؾ               Ե            "            
8.  ..Ѫ              óԹ          "            
9.  ..ͪҵ           ҭԷѡ        "            















                                   - 50 -

ѷ çҺԹᾷ ӡѴ

                             2538              2539               2540
ԹѾ               312,190,760.39     516,381,607.02     624,496,944.63 
˹Թ                 207,422,922.82     412,090,405.06     533,410,103.33
ǹͧ             104,767,837.57     104,291,201.96      91,086,841.40 
ҡâ           88,112,763.66      97,518,593.00     133,037,265.64
                 89,313,489.65      98,580,815.36     133,813,996.32 
â鹵                 15,451,477.74      15,391,115.75      26,414,555.21
(Ҵع)ط      ҷ  (5,832,334.20)    (10,749,955.61)    (19,288,360.56) 

ª͡ú մѧ

1.  سԷ        ҳؾѲ           ˹         иҹѷ
2.  ..ѧԪ    ح§                "            ú
3.  ..ͪҵ   ҭԷѡ             "            ú
4.  ..ӹҭ                     "            ú
5.  ..ѵ                       "            ú
6.  ..Ծ    ͧԹ           "            ú
7.  .تҵ      ѧ               "            ú
8.  ҧԴ      ҳؾѲ             "            ú















                                   - 56 -

     (2)  ͹Ҥ
          ѷ չº·Т¡ԨçҺ͡价㹡ا෾ǹҤ Ҩ
ٻͧŧعѺçҺ çҺ㹷ͧ  駹ѷ վѹԵ㹸áԨ
çҺҡ ѷ ӹҨͧ㹡ë, Ǫѳ ػóᾷҡ  ͡ҡ
ѧ繡ê»Ȫҵ㹡êҧԭдҹҸóآ誹
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