͸ԺСͧ¨Ѵ
1.ҹСԹмšôԹҹҹ

         () çҧԹع
              -ѵǹͧԹѾع¹˹Թع¹鹨ҡ 0.74 㹻 2540
 1.07 㹻 2541 ͧҡԹѾع¹ҡ˹Թع¹ 
              -ѵǹͧ˹ԹǹͧŴŧҡ 1.75 㹻 2540  1.59 
㹻 2541 駹˵Ӥѭ׺ͧҡ ѷաê˹仺ҧǹ

         () Ҿͧ 
              㹻 2541 ҧԡĵɰԨ·ѧ˴ҧͧ੾
ѭҡҧǴǢͧ˹Դ 觼ѭҡâҴҾͧѺѹع
ç  ѷ  ѧö Cash  Flow 稷Ҿͧͧѷ  
ࡳ Ǥ㹻 2541 ѷ ԹʴҡԨԹҹ 26.5 ҹҷ Թʴط
㹡Ԩŧع 4.0 ҹҷ Թʴ㹡ԨѴԹ 21.90 ҹҷ繼ŷ
Թʴط 0.5 ҹҷ 

         () سҾͧԹѾ
              㹻 2541 ҹҺѷԹѾӹǹ 457 ҹҷ Ŵŧ繨ӹǹ
48 ҹҷҡ 2540 ԹѾ 505 ҹҷŴŧԴѴǹ  9.5 
Դҡ¡÷Ӥѭѧ
               - Ŵŧͧ١˹ä繨ӹǹԹ  26 ҹҷ 㹻 2541  駹
׺ͧҨҡúôҹԹ鹡õԴѴ˹ԹǴ 
               - ŴŧͧԹҤ繨ӹǹԹ 5 ҹҷ 駹׺ͧҨҡ
úѵشԺ ԹҧԵ㹻ҳӷش
               - ԹѾͧѷش    ѹ 31 ѹҤ 2541   Сͺ 
Թ  Ҥ ػóطԨӹǹ 259 ҹҷ  ԴѴǹ 57.00 ͧԹѾ  
ǹԹѾѹѺͧŧ   ١˹ä  ԹҤ  繨ӹǹԹ 106   
89 ҹҷӴѺͤԴѴǹ 23  19  ͧԹѾӴѺ  ǹ
    ԹʴԹҡҤ   ԹѾع¹ ԹѾ繨ӹǹ
 4.2 ҹҷ  ͤԴѴǹ 0.9 ͧԹѾ








         () šôԹҹ
         㹻 2541 ԡĵɰԨͧ»С÷ռšзҧ            
عçͤö㹡÷ӡâͧáԨ˭ͺ᷺ءصˡ ѷ  
ѧСѧҧԷҾ٧ش㹡ú÷Ѿҡâͧѷ 觼
šôԹҹͧѷ 㹻 2541 öػѧ .-

          1. ҡâ㹻 2541 ͧѷ     ըӹǹ  422 
ҹҷ 鹨ҡ 378 ҹҷ 㹻 2540 ͤԴѴǹ֧ 11.7 駹 ʹ
׺ͧҨҡ鹷駻ҳҤҢ´ѧ
              1.1 㹻ҳԴҡ  㹻 2541  ѷ  ѺاѲ
ͧѡҧͧա駡á˹Ԩý֡ͺҧ෤Ԥ边ѡҹ 龹ѡҹ
շѡС÷ӧҹҡ  繡ԷҾ㹡üԵ  觼żԵͧѷ 
 2 ҡ 2540
              1.2 鹢ͧҤҢ㹻 2541 Դҡšзҡ¹ŧ
ѵš¹ԹҵҧẺµ  觼ҤѵشԺ紾ʵԡ㹤觻á
ͧ 2541  ٧ҧͧµʹФԹҷ͹ŧ  ֧ռŷҤҢ
ͧѷ 鹵Ҥҵ鹷عѵشԺ
         2.  ͧѷ  鹨ҡ 0.8 ҹҷ 㹻 2540  1.6 ҹҷ              
㹻 2541 駹ͧҡ㹻 2541 աèҡѵš¹Դ鹨ԧ
         3. 鹷ع  㹻 2541 ͧѷ ըӹǹ 369 ҹҷ  ͤԴѴǹ
ҡâ·ҡѺ 87  鹨ҡ 83 㹻  2540  駹
׺ͧҨҡҤѵشԺ紾ʵԡ ʹ¡üԵ駵鹷عԧʴͧ
   Ѻ٧ҡҧͧФԹҷ͹ŧ㹢ǧ觻áͧ   2541
͹ҡش֧ 57 ҷ  1 ­Ѱ͹Ҥ 2541 㹢зҤҢ¼Եѳ
ͧѷ ҧǹ繤觫ͷѺǧ˹ 1  ֧ 3 ͹  աͧҡ
ɰԨ˴ҧعç  2541  ռšз͡ѧͷŴŧ㹷ء  صˡ 
С觢ѹҹҤҢ㹵Ҵ٧ºѺ 2540 
         4.͡¨  ͧ 2541 ͧѷ٧繨ӹǹԹ 12.9 ҹҷ
ºѺ  2540  駹繼׺ͧҨҡ㹵鹻 2541 ҧѷ ¹Թ USD. 
Թҷ  㹪ǧѵš¹٧ СͺѺѰº¡õ֧ѵҴ͡Թ
ࡳ٧ҡ ѵ 19-22 ͺʹ 2541 ͹䢢ͧ IMF 觼
д͡¨¢ͧѷ ٧ҡ㹻 2541
         5. Ҵع ҡôԹҹطѧ¡þ㹻 2541 ըӹǹ 8.4 ҹҷ 
繼׺ͧҡ ա§ҡ鹢ͧ鹷عд͡¨
(ѧ´ᨧǢ 3  4)


         ػ㹻 2541  ҹ ҵá IMF ԡĵɰԨ
 ѧ˴ҧاçеͧ ѭҳ觡ÿ鹵 㹢зáԨ˭  ҧ
ʺѭҾͧҧҡ յŢҧǴǢͧûԴԨ С
ԡҧҹ ѭҡûй˹˹ԴѧѺ ѷ ѧ
ö Ҿͧ ջԷҾԨâͧѷ ѧç 
ҧ͹Ҥ

2. ͹Ҥ 
         㹻 2542 ѷϤҴҨöҧš  駹ͧҡ ѷ˹
ἹôԹҹѺ¹ط駷ҧҹõҴ  üԵ ؤ Թʹͧ
Ѻʶҹóѹ÷ҧɰԨ СԹ㹻Ѩغѹѧ
          - ҧҹõҴ ѷԹº¡â鹡âµҧ
ҡ觢 ҧͧ 駹ͧ»ªѺҡԹҷ͹ŧ繼Ŵյ͡
͡մö㹡觢ѹͧѷ  ѷ  դҨö
µҴҧ  ö觢ѹҤҡѺȤ㹵Ҵš  
سҾСͺաҤ  컡Ѻѷ  հҹ١Ǵ ҡ仵
СóѧǺѷϨҡ͡ԹҷԹҵҧҡ鹷ö
¼ŢҴعҡѵš¹ٻ˹ԹԹҵҧȷ褧§  
(NATURAL - HEDGE)
          - ҧҹüԵкؤ ѷѧ˹ἹҹûѺاѲͧѡ
ǺѺҧҹؤҡ  ҧͧ ¨Ѵͺҧҹ෤Ԥ边ѡҹҧͧ 
ԷҾ  ͧüԵѾҡԴª٧شôԹº
żԵ٧ش Ŵ鹷عŴͧ·ش㹷ء鹵͹ͧ÷ӧҹѹй
ҫ觵鹷ع˹·  觼ѷ մö㹡âµҴС
㹻 2542 ºѷ ἹҹèѴͺǢ͡żԵŴ鹷ع边ѡ
ҹǷҧ㹡ûѺاúáüԵʹ 2542
          - ҧҹԹ ѷ Թº·ҧҹԹẺѴѧͺͺ
µʹ  鹡úҾͧҧҡ㹻  2542  ͧҡѷϤҴ
㹻 2542  ѭҡâҴҾͧͧءáԨ駸ҤʶҺѹԹͧԺѵԵ
ҵáâͧ  Ϳ ҧǴ ռŵ͹º¡ԹáԨǴҡ
觼šз ѭҾͧդعç  ºѷ  鹡úáäǺ
سҾ١˹ ʹԹʴؤѧҨ ѵشԺ Թٻջҳ
ӷش ŴŧعԹѾԴżԵ   ŴФ
͡ѡҾ ͧͧѷҡ§㹡ôԹҹ   Ѻ§ҡ
ѵš¹ѷ     㹻 2542 ѷ  öµҴҧ
ͪ¼ŢҴعҡѵš¹Դ ҡ˹Թҧ ҡëѵشԺ
Ť٧ҡѡ Ҩº¡÷ ѭҫԹǧ˹(FORWARD CONTRACT) 
繹º繤駤ͤԹҷ秵 㹺ҧ

10.2 ѵǹҧԹ
     ѵǹҾͧ                   =    1.07   ()
     ѵǹҾͧع¹            =    0.58   ()
     ѵǹҾͧԹʴ         =    0.14   ()
     ѵǹع¹١˹ä           =    3.99   ()
     ˹                 =   90.22   (ѹ)
     ѵǹع¹ԹҤ          =    4.17   ()
     ҢԹ               =   86.33   (ѹ)
     ѵǹع¹˹               =   14.71   ()
     Ҫ˹                    =   24.47   (ѹ)
     Cash Cyclc                        =  152.08   (ѹ)

ѵǹʴö㹡ҡ(PROFITABILITY RATIO)
     ѵҡâ鹵                      =   12.58   (%)
     ѵҡط                       =   (1.98)  (%)
     ѵҼŵͺ᷹                 =   (4.89)  (%)

ѵǹʴԷҾ㹡ôԹҹ (EFFICIENCY RATIO)
     ѵҼŵͺ᷹ҡԹѾ             =   (1.84)  (%)
     ѵҼŵͺ᷹ҡԹѾ         =   (3.26)  (%)
     ѵҡع¹ͧԹѾ           =    0.93   ()

ѵǹº·ҧԹ (FINANCIAL POLICY RATIO)
     ѵǹ˹Թǹͧ          =    1.59   ()
     ѵǹöд͡       =    0.85   ()
     ѵǹöм١ѹ     =    0.85   ()
     ѵǹöм١ѹ     =    0.10   ()
     (Cash basis)
     ѵҡèԹѹ                 =      -    (%)OPT 1.50           !B!                                                          A !   N  n 