Page 177 - Anual report STi 2022_eng

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

19. N.C.C. Management There are common Other expenses Necessity and Suitability
and Development directors with the - Administrative - 0.11 The Group has paid service fees

Company Limited parent company expenses for using meeting venues at the
Queen Sirikit National Convention
of Univentures
Center to N.C.C. Management and
Capital Company
Development Company Limited for
Limited.
the purpose of conducting business
operations of the Company Group.
The price paid is comparable to
that of other companies offering
similar services.
Opinion of the Audit Committee
The aforementioned transaction
is a normal business transaction
of the Company Group. The Audit
Committee has considered and

9.3 Measures or Procedures Regarding the Approval of the Related Party Transactions

Currently, UVCAP holds the Company’s shares at 26.12 the person, who is the authority or shareholder in the highest
percent (information of December 21, 2022) of the registered order (an ultimate shareholder) of all employers. This is to
issued and paid-up shares of the Company. Since UVCAP is determine whether the employer is considered a connected

the company with major shares held by UV which has many person or not.
connected individuals or companies, the Company Group The Company has approved trade agreement principles
has established guidelines for identifying and auditing related with general trading conditions for conducting business
parties who have transactions connected to the Company between the Company and its subsidiaries with directors,
Group to ensure the approval, examination, and full disclosure executives, or related persons. These trade agreements follow
of related party transactions. The Group has prepared a the same standards that a reasonable person would use when
file of connected persons who have previously transacted dealing with a general counterparty in the same situation. The

with the Group to immediately identify the relationship when Company will prepare a quarterly report summarizing these
transacting with such companies again. Additionally, when transactions to be presented to the Audit Committee.
bidding for a new project, the Company Group shall check The Company places great importance on the
the list of directors and shareholders of the employer of such consideration of various transactions transparently for the
project every time. If the employer is a company whose Company’s benefits. Therefore, the Company has placed
shareholders are another company, the Company Group importance on preventing transactions that may result in
verifies the information of the directors and shareholders of conflicts of interest, related transactions, or inter-company
the company that holds such shareholders until acknowledge
transactions. The main principles are as follows:

Stonehenge Inter Public Company Limited 175