Page 158 - Anual report STi 2022_eng

1) Normal business transactions

Transaction (Million Baht)

Persons/juristic persons Relationship For the year For the year Necessity and Suitability
who may have conflicts characteristics Item Characteristics Ended Ended of Related Party Transactions
of interest December 31, December 31, Opinion of the Audit Committee
2021 2022

1. Grand Unity There are common Service Income Necessity and Suitability
Development directors. - Income from 37.85 20.38 In 2022, the Group provided services
Company Limited consulting and to Grand Unity Development Company

project management Limited for a total of 7 projects with
- Income from 0.08 - service contracts having normal
business conditions. Upon comparison
engineering design with similar projects that provided
- Trade receivable 2.24 1.53 services to others, it was found that
- Unbilled Income 11.46 3.40 the gross profit margin was similar.
- Service income - 0.02 Opinion of the Audit Committee
received in advance The aforementioned transaction
is a normal business transaction
of the Company Group with fair
prices and conditions comparable
to those of other parties who are
not connected (arm's length basis).

2. Lerttakarn Property There are common Service Income Necessity and Suitability
Development directors. - Income from 3.48 3.23 The Company Group provided consultant,
Company Limited consulting and management, and construction
project management supervision services for the Market

- Trade receivables 0.29 0.29 Place Thong Lor project with normal
- Unbilled receivables 0.27 0.27 business conditions. Upon comparison
with similar projects that provided
services to others, it was found that
the gross profit margin was similar.
This transaction is considered normal
and in line with business practices.
Opinion of the Audit Committee
The aforementioned transaction is a
normal business transaction of the
Company Group with fair prices and
conditions comparable to those of
other parties who are not connected
(arm's length basis). For projects or
segments that cannot be compared,
the projected gross profit margin upon
accepting a job is higher than the
minimum gross profit margin specified.

156 Annual Report 2022 (56-1 One Report)