Page 15 - KEX EXPRESS (THAILAND) PUBLIC COMPANY LIMITED : ANNUAL REPORT 2024

KEX EXPRESS (THAILAND) PUBLIC COMPANY LIMITED 15

Company Journey

2006 Operational Highlights and Financial Summary
Kerry Distribution (Thailand) began providing
express delivery services including payment-
on-delivery in Thailand under the brand “Kerry
Operational Highlights and Financial Summary
Express”. 2014
Kerry Express (Thailand) Limited was incorporated
on 17 January 2014 with registered capital of THB 70
million to operate an express parcel delivery service in
Thailand. The registered capital was later increased to
THB 120 million in late 2014. Key Milestones

Key Milestones
2018
VGI Public Company Limited (“VGI”) became
a strategic shareholder through the acquisition
of a 23 per cent stake from KLN Logistics (Thailand)
Company Limited, Gather Excellence Limited, and
Siam Chaopraya Express Company Limited. 2019 Business Overview
Mr. Keeree Kanjanapas was appointed as the
Honorary Chairman. As Mr. Keeree Kanjanapas
Business Overview
is not a director, he is not involved in the management
of KEX.

2024
On 26 March 2024, SF International Holding
(Thailand) Co., Ltd. (“SFTH”), became the major Governance Structure and Practices
2020 shareholder of KEX, holding a total of 62.66% of the
Kerry Express (Thailand) Limited was converted to a total issued and paid-up shares following the completion
Public Limited Company with its registered capital of the Company’s tender offer, which took place from
of THB 890 million and a par value of THB 0.50 13 February 2024 to 22 March 2024.
Governance Structure and Practices
per share. The Company’s governance structure
was established according to the good governance In August, 2024, Kerry Express initiated a strategic
practice of the listed company with 9 qualified rebranding, transitioning from the name “Kerry” and/
individuals making up the Board of Directors. or “Kerry Express” to “KEX” as part of the long-term
strategy to drive business transformation and smooth
On 24 December 2020, KEX was listed on the Stock transition to align with the future development of the Financial Performance
Exchange of Thailand under the stock code “KEX” Company
at the IPO price of THB 28 per share with aggregate
net proceeds of approximately THB 8.1 billion.
Financial Performance

* Remark KEX successfully completed its Right Offering in
Mr. Keeree Kanjanapas is also the Chairman of the Board of Directors and August 2024, raising THB 5.64 billion with a total
the Chairman of the Executive Committee of BTS and other companies of 1,762,393,295 new ordinary shares. This capital
within the group. Remarkably, his professional experience and reputation infusion strengthened the company’s balance sheet and
are renowned among the regional business communities. Mr. Keeree improved liquidity, positioning KEX for sustainable Sustainable Development
Kanjanapas does not sit on the Board of Directors of KEX.
growth.

Sustainable Development