Page 85 - KEX EXPRESS (THAILAND) PUBLIC COMPANY LIMITED : ANNUAL REPORT 2024

KEX EXPRESS (THAILAND) PUBLIC COMPANY LIMITED 85

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

Shangri-La Hotel Public Purchases of goods and KEX enters into lease and

Company Limited (“SHANG”) services service agreements with
SHANG for its office and
A subsidiary of Shangri-La Rental expense 32.17 26.01
Asia Limited (“SA”), a member Other expenses 2.07 1.23 parcel shop at the Chao
under Kerry Group Limited Phya Tower. The rental and
(“KGL”), which is the major Payment on lease liability 14.92 17.21 service cost as well as
shareholder of KLN Interest expense 2.29 1.81 terms and conditions are
comparable to the market
Common director: Mr. Kled- Leases liabilities 59.20 0.72 rental rates of office spaces
chai Benjaathonsirikul in the area. Key Milestones
Trade and other payables 1.63 1.30

Deposit 9.07 9.07 KEX also pays utility bills to
SHANG at the actual cost.

KEX rents spaces to install
company’s sign and adver-
tising at Chao Phya Tower,
which also includes stain- Business Overview
less steel and LED light
box, from SHANG. The
rental rates as well as terms
and conditions are at arm-
length basis.
KEX has other expenses
with SHANG such as rental
of meeting rooms, F&B ex- Governance Structure and Practices
penses and accommoda-
tion expenses at the Shan-
gri-La Hotel Bangkok at
discounted rates, as a
member of Kerry Group
Limited. Financial Performance

Sustainable Development