Page 84 - KEX EXPRESS (THAILAND) PUBLIC COMPANY LIMITED : ANNUAL REPORT 2024

84 ONE REPORT (FORM 56-1) 2024

Total Amount
Related Parties / Nature of (Unit: THB Million) Transaction
Relationships Transactions Rationale
Year 2023 Year 2024

KLN (Thailand) Co., Ltd. (“KLN Other income KLN (Thailand) has
(THAILAND)”) sub-leased office space at
Rental income 2.89 -
A subsidiary of Kerry Logistics Sale of equipment 0.04 - Sathon Square Building
Network Limited (“KLN”), an from KEX. The rate charged
Operational Highlights and Financial Summary
indirect subsidiary of S. F. is based on cost-plus-
Holding Co., Ltd., and KEX’s margin, which includes
ultimate major shareholder other expenses and service
fees.
Common director: Mr. Kledchai
Benjaathonsirikul

Kerry Siam Seaport Co., Ltd. Purchases of goods and KEX pays for messenger
Key Milestones
(“KSSP”) services outsource at cost of service
A subsidiary of Kerry Logistics Other expense 0.047 0.051 to KSSP.
Network Limited (“KLN”), an Trade and other payables 0.001 0.005
indirect subsidiary of S. F.
Holding Co., Ltd., and KEX’s
ultimate major shareholder
Business Overview
Common director: Mr. Kledchai
Benjaathonsirikul

Kerry Logistics (Bangna) Co., Sales of goods and service 0.08 - KEX charges custom
Ltd. (“KLBN”) clearance service to KLBN
Sales and service income
A subsidiary of Kerry Logistics at the actual cost.
Network Limited (“KLN”), an
indirect subsidiary of S. F. Purchases of goods and KEX has rented a
Holding Co., Ltd., and KEX’s services warehouse from KLBN for
ultimate major shareholder its sorting hub and office
Rental Expense 37.05 19.58
Governance Structure and Practices
Common director: Mr. Kledchai spaces at market rates,
Benjaathonsirikul Payment on Lease Liability 99.11 92.74 under terms and conditions
Interest Expense 3.73 6.68 that are comparable to
those from a third party.
Lease Liability 236.57 150.51
KEX pays utility bills to
Trade and other payables 3.50 7.90
KLBN at cost incurred plus
Deposit 22.93 22.20 margin basis.
Financial Performance

Sustainable Development