Page 16 - One report AUCT2024_Eng

Part 1
Business Operation and Operating Results
Changing and development of the Company
1991 - 1997
● The Company was incorporated with a start-up registered capital of 3 million Baht to operate a vehicle auction business, and then increased the paid-up capital to 13 million Baht and 25 million Baht consecutively to increase business expansion and working capital and also started the motorcycle auction to expand customer base at a later time.
1998 - 2002
● The Company was appointed by the Financial Sector Restructuring Authority (FRA) to conduct the public auctions of vehicles and assets of insolvent finance companies.
● The Company was the first and only Thai firm and the second in Asia, after Japan, to become a member of the National Auto Auction Association (NAAA) which is the non-profit international auction organization in USA with members from 270 countries. It aims to increase the standard of the car auction by protecting the benefits for buyers and sellers and supporting the business transparency and fairness.
● The Company increased the registered and paid-up capital to 110 million Baht for business expansion
● Commenced the auctions for other products, such as land and houses, shares, furniture, etc.
2003 – 2007
● The Company launched the first mobile auction in the upcountry
● Opened the vehicle warehouse facilities in 17 provinces: Pitsanulok, Chiangmai, Nakorn Sawan, Sakolnakorn, Roi Ed, Ayutthaya, Chonburi, Nakorn Pathom, Saraburi, Ubonratchathani, Nakorn Ratchasima, Udornthani, Khon Kaen, Songkhla, Suratthani, Trung, and Phuket. This covered all regions in Thailand for the convenience of property owners.
● The Company set up the new branch in Rangsit Klong 8 to cover the customer base in Bangkok’s vicinity.
16
Annual Registration Statement / Annual Report 2024
(Form 56-1 One Report)