Page 18 - Annual Report English 2018

Tycoons Worldwide Group (Thailand) Plc.

6. Dividend payment policies

1. The dividend payment policy of the company is that dividends will be paid at a rate
of no less than 40 percent of the Company’s net profit after corporate income tax
each year. However, many factors must be took into consideration before deciding to
pay a dividend, including operation results and financial status, the company’s
liquidity, business expansion and other factors related to management of the
company. In order to pay a dividend, such payment must be agreed upon at a
shareholders meeting with consent of the company’s board of directors.
If there is any profit after the final accounts of such financial year, the
company may allocate the profits in the following orders, provided that
the company shall first apply such profits to pay off its tax payment then
compensate for its accumulated losses:

(1) Set five percent of the remaining profits as reserve fund.
(2) Upon properly reserving the fund for reserve fund, set one percent of
the remainder of the profits as directors’ bonus.
(3) Upon properly reserving the fund for reserve fund, the employees’
bonus shall be set in the range between two to five percent of the
remainder of the profits.
(4) After the funds for items 1 to 3 are properly reserved, at least forty
percent of the remainder of the profits plus the accumulated and
undivided profits of previous year shall be set as dividends (deducting
the distributed interim dividends). The dividends to be distributed in
the form of cash shall not be less than fifty percent of the distributable
dividends. No distribution shall be allowed if divided per share is less
than THB 0.2.
2. The dividend was paid: the company omitted annual dividend for 2015, 2016 and
2017.
3. The payment rate compared to the net profit: the company omitted annual dividend
for 2015, 2016 and 2017.

7. Management structure

The management structure of the company is composed of the Board of Directors, the
audit committee and the management team, details of which are as follows:

7.1 Board of Director

The Board of Directors as at Dec 31,2018

No. Name-Last Name Position

1 Mr. Huang, Wen-Sung Chairman of Board

2 Ms. Lu, Yen-Chuan Vice Chairman of Board

3 Mr. Natthawat Thanapinyanun Director

4 Miss. Hwang, Feng-Mei Director

5 Mr. Surabhon Kwunchaithunya Independent director and
Chairman of the Audit Committee
6 Mr. Jirawat Huang Independent director and Audit Committee
7 Mr. Phiphat Wangphichit Independent director and Audit Committee

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