Page 11 - annual report AUCT 2025_Eng

Business Operation and Operating Results Corporate Governance Financial Statements Attachments
1. Organizational structure and operation
of the company
Policy and business overview
Union Auction Public Company Limited (“The Company”) was registered as Union Auction Company
Limited on 2 August 1991 with the start-up registered capital of 3 million Baht. The Company’s business
was to conduct an auction of automobiles, under the management of Mr. Thepthai Sila, its promoter and
business pioneer to offer the alternative of automobile buying/ selling services and to create the ultimate
satisfaction for customers, both buyers and sellers. The Company was considered the first company in
Thailand conducting the automobile auction as an “Open Auction” in which the buyers showed the intention
of purchase by offering the price to the public or participating bidders. The winner was the last one who
offered the highest price.
The company’s business mainly provides automobiles and motorcycles auction services and other
types of assets according to customer’s demand, such as land and houses, furniture, electric appliances,
and brand-name products to meet the needs of customers, both buyers and sellers, from many financial
institutions, private sectors and governmental sectors.
The Company continues to develop the Company’s services for sustainable growth and to put an
emphasis on providing quality services by enhancing its operations and management to be professional
for reaching international levels. This included auctioning several kind of products to meet every need of
the customer. The Company established quality service policies that focused on management and transparent
auctioning including giving accurate and fair information in every step. The Company developed a web
based auction system that connected the working systems of different departments, offices and online
warehouse auctions. This helped to inspect the condition of auctioned goods systematically and with real
time standards. The Company appropriately assessed mid-priced assets or opening bids and received
approval from asset owners. As a result, all bidders were able to purchase assets at an appropriate price
according to the asset’s condition and quality. This increased the value and success to both business
allies and customers and aligned everyone with the company’s motto,
“Your Success is our Pride” “Your Success is our Pride”
บริิษััท สหการประมููล จำำากัด (มหาชน)
Union Auction Public Company Limited
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