Page 87 - KEX EXPRESS (THAILAND) PUBLIC COMPANY LIMITED : ANNUAL REPORT 2024

KEX EXPRESS (THAILAND) PUBLIC COMPANY LIMITED 87

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

KLN Logistics (Thailand) Ltd. Finance cost KEX entered into a borrowing
(“KLNTH”) agreement with KLNTH, to
Interest Expense 3.34 45.45
KEX’s major shareholder Accrued Interest Expense 3.34 26.64 borrow for working capital
and investment for the
Short-term loan 1,300.00 1,300.00 improvement of operation’s
efficiency.

Total credit facility
amounting to Baht 3,200
million, the interest rate at
1.65% and the repayment Key Milestones
are due in 12 months from
each drawdown date.

Kerry Logistics (Hong Kong) Purchases of goods and KEX engages KLHK
Limited (“KLHK”) services to provide corporate
A subsidiary of Kerry Logistics Corporate administration 24.20 11.75 administration services and Business Overview
Network Limited (“KLN”), service expense IT services at market and
KEX’s major shareholder, and Other expenses 0.02 - cost-based rates.
an indirect subsidiary of S. F. KEX reimburses other
Holding Co., Ltd. Trade and other receivable 4.03 4.67 expenses to KLHK such as
Trade and other payables 30.05 45.43 travelling and subscription
expenses at actual cost.

Times E-Commerce Company Sales of goods and services KEX provides custom
Limited (“TEC”) clearance, last mile delivery, Governance Structure and Practices
Sales and service income 24.64 1.95
A joint venture of Kerry Logis- Trade and other receivables 3.28 - COD and warehouse-related
tics Network Limited (“KLN”), services to TEC at comparable
KEX’s major shareholder, and Cash on delivery payable 0.20 0.01 rates and conditions to
Times Global Logistics Limited those charged to a third
party.
Common director: Mr. Ng Kin
Hang Alex

Kerry Express (Cambodia) Co., Other income KEX provides IT services Financial Performance
Ltd. (“KEKH”) IT service income - - to KEKH at the cost-plus

A subsidiary of Kerry Logistics Trade and other receivables 4.67 4.67 margin basis.
Network Limited (“KLN”), KEX reimburses certain
KEX’s major shareholder, and trade and other receivables
an indirect subsidiary of S. F. with KEKH for IT service
Holding Co., Ltd. income supply as well as
Common directors: Mr. Kledchai miscellaneous expenses
Benjaathonsirikul and Mr. Ng that KEX paid in advance Sustainable Development
Kin Hang Alex for KEKH.