Page 86 - KEX EXPRESS (THAILAND) PUBLIC COMPANY LIMITED : ANNUAL REPORT 2024

86 ONE REPORT (FORM 56-1) 2024

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

S.F. EXPRESS Company Sales of goods and services KEX provides custom
Limited (“SFTH”) clearance, last mile delivery
Sales and service income 100.68 45.86
A subsidiary of S. F. Holding Trade and other receivables 164.58 111.67 services and collects COD
Co., Ltd., KEX’s ultimate major for SFTH. The surcharge
Operational Highlights and Financial Summary
shareholder rates and conditions are
comparable to those given
to third party. KEX charges
service fee during business
integration period at the
cost-plus margin basis.

Key Milestones
Purchases of goods and SFTH paid the cost of sales
services and service instead of KEX
at the actual cost.
Cost of sales and services 70.13 31.39
Trade and other payables 118.36 149.74

Cash on delivery payable 13.31 -

Advance for SF 22.03 25.04
Business Overview

KEC (Bangkok) Limited Sales of goods and services KEX enters into sub-lease
(“KECB”) service with KECB for its
Sales and service income (2.77) 20.80
A subsidiary of Kerry Logistics Trade and other receivables - 21.98 office at the Chao Phraya
Network Limited (“KLN”), an Tower. The charging rate
indirect subsidiary of S. F. are cost-plus margin basis.
Holding Co., Ltd., KEX’s
ultimate major shareholder
Purchases of goods and KECB provides Fulfillment
Common director: Mr. Ng Kin services service to KEX, the charging
Hang Alex rate are cost-plus margin
Governance Structure and Practices
Rental Expense 1.50 1.73
basis.
Cost of sales and services 35.72 56.94
Trade and other payables 14.77 12.86

Financial Performance

Sustainable Development