Page 92 - KEX EXPRESS (THAILAND) PUBLIC COMPANY LIMITED : ANNUAL REPORT 2024

92 ONE REPORT (FORM 56-1) 2024

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

VGI Public Company Limited Sales of goods and services KEX receives revenue share
(“VGI”) from VGI for renting out ad-
Marketing Revenue 0.41 -
Holds 15.45% of shares in vertising spaces on KEX
KEX delivery vehicles for its cli-
Operational Highlights and Financial Summary
ents.
Common director: Mr. Kavin
Kanjanapas
Purchases of goods and As a part of its marketing
services and promotional cam-
paigns, KEX pays VGI to
Administrative expenses 1.33 -
provide digital media ad-
vertising services as well as
Key Milestones
various advertising spaces
on BTS trains and plat-
forms at prevailing market
rates.

SUPER TURTLE PUBLIC Purchases of goods and KEX enters into lease and
Business Overview
COMPANY LIMITED (“NINE”) services service agreements with
NINE for the rental of retail
A subsidiary of VGI, which has Rental Expense 3.25 -
a 15.45% stake in KEX Administrative expenses 0.11 - spaces on BTS stations its
parcel shops at the rental and
Payment on Lease Liability 3.98 - service rates comparable
to those NINE gives to third
Interest Expense 0.50 -
party. All the rental contract
Lease liabilities 10.78 - with VGI ended at 31 Dec

Trade and other payables 0.56 - 2022. The new contract
with all BTS station are under
Deposit 2.57 - NINE.

Governance Structure and Practices
KEX also pays the utility
bills to NINE at the actual
cost.

Rabbit Cash Company Limited Sales of goods and services KEX receives referral fee
(“RC”) Commission income 0.23 - from RC for application in

A subsidiary of VGI, which has Trade and other receivables 0.01 - and loan booking via Kerry
a 15.45% stake in KEX channel. The charging rate
Financial Performance
are agreed upon by both
parties.

Sustainable Development