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World Gas (Thailand) Company Limited ("WG") invest in Picnic Corporation Public Company Limited ("PICNI") to support the successful rehabilitation plan of PICNI

24 November WP Energy Public Company Limited ("WP") formed as a result of the amalgamation between PICNI and WG

Completed construction of 2 LPG Terminals:

  1. Bang Pakong, Phase 2 LPG Terminal
  2. Ban Haet LPG Terminal

January

The extraordinary general meeting No. 1/2017 on 31 January 2017 approved as follows :

  1. Transfer of capital surplus from gas selling price in the amount of 532,000,000 baht
  2. Transfer of legal reserve in the amount of 33,910,000 baht
  3. Transfer of ordinary share surplus value in the amount of 2,657,619,957 baht respectively, and
  4. Reduction of authorized and paid-up capital of 2,242,065,700 baht from the existing amount of 2,760,565,700 baht to 518,500,000 baht by reducing 2,242,065,700 shares to compensate for accumulated losses

authorized and paid-up capital with the Department of Business Development. Currently, the company has an authorized and paid-up capital of 518,500 baht consisting of 518,5000 ordinary shares. Regarding the transfer of capital surplus from gas selling price in the amount of 532,000,000 baht, the company is currently consulting with a government agency on the legal aspects of the transfer and will use the capital surplus from gas selling price to compensate for accumulated losses once it receives a confirmation from the agency.

The company increased the number of LPG dispensers at Bang Cha Kreng LPG terminal from 6 to 13 dispensers to enhance the distribution of LPG and to meet the needs of customers from various sectors throughout the country. After the expansion, the company has a total of 41 dispensers and maximum gas dispensing rate of 14,760 tons per day.

February

The Board of Directors’ Meeting No. 1/2019 held on 17 January 2019 resolved to approve the Company’s capital increase in WP Gas Co., Ltd. which is the Company’s subsidiary. The said subsidiary will issue 17,000,000 ordinary shares for capital increase at par value of 10 Baht per share in the amount of Baht 170,000,000.

September

On 19 September 2018, the Company signed a hiring contract for constructing the Bang Pakong Phase 3 liquid petroleum gas storage and distribution depot with storage capacity of 9,500 tons to be used as support of the reserve policy requiring an reserve increase of the entrepreneur from 1 percent to 2 percent in 2021. After completion of the said construction, the Company will have a LPG storage and distribution depot with a total storage capacity of 18,489 tons.

October

The Board of Directors Meeting No.11/2018 held on 29 October 2018 resolved to approve, its subsidiary company, WP Gas’s investment in Thai Gas Corporation Co., Ltd. in the proportion of 80 percent of Thai Gas Corporation’s authorized capital in the amount of 168,800,256 baht. On 27 February 2019, the Company has already held the shares in Thai Gas Corporation in the proportion of 80 percent.

January

The Board of Directors’ Meeting No. 1/2019 held on 17 January 2019 resolved to approve the Company’s capital increase in WP Gas Co., Ltd. which is the Company’s subsidiary. The said subsidiary will issue 17,000,000 ordinary shares for capital increase at par value of 10 Baht per share in the amount of Baht 170,000,000.

October

The Board of Directors Meeting No.10/2019 held on 24 October 2019 resolved to approve the Company’s takeover of all seven filling plant businesses with investment value of Baht 170,000,000 to enhance the competitive potential, increase sales volume, and directly expand market to more consumers.

The Company achieved “Best LPG Distributors 2019” Global Awards from International Finance (IFM Awards), England, and Asia Corporate Excellence & Sustainability Awards 2019 (ACES Awards 2019) from MORS Group for admiring the Asian organizational success as the model of stable and sustainable growth. The Company is a single integrated energy company from Thailand which was awarded in this field, resulting in more recognition in Asian region and international level.

The Company has been passed for certification of Level 3 Green Industry Standards from the Ministry of Industry regarding the systematic environmental management as the focus on good commitment due to the Company’s serious commitment in business operation under corporate governance code and moral business operation together with social, community, and environmental, and the Company’s related party responsibilities.

March

The Board of Directors’ Meeting No. 3/2020 held on 25 March 2020 resolved to approve the Company’s capital increase in WP Solutions Co., Ltd. which is the Company’s subsidiary. The said subsidiary will issue 2,100,000 ordinary shares for capital increase at par value of 10 Baht per share in the amount of Baht 21,000,000.

The Board of Directors Meeting No. 3/2020 held on 25 March 2020 resolved to approve WP Solutions Co., Ltd. as the Company’s subsidiary to enter into joint venture with Wonder Food International Co., Ltd. to establish Wonder Food Holding Co., Ltd. to operate the food business in the proportion of 50 percent of authorized capital of Wonder Food Holding Co., Ltd.

The Company achieved “Best Renewable Energy (LPG) Efficient Provider” Global Awards from Global Banking and Finance Awards, and “Most Innovative CSR Initiative” from International Finance Awards (IFM Awards) continuously for the second year for admiring the organizational success as the model of stable and sustainable growth, and admiring the commitment on business operation under the corporate governance code, and moral business operation together with social, community and environmental responsibility.

The Company accepted to join Zero Accident Campaign Activity and promote its establishment to be committed in prevention of occupational accident based on the concept that the accident with the cause relating to occupation can be prevented. The hazard statistics in the establishment shall be reduced to be zero through the continuous occupational safety, health, and environment planning and management, resulting in the safety culture for labor’s safety and good health.

The construction of Bang Pakong LPG Terminal, Phase 3 with a capacity of 9,500 tons was completed and has fully operated, and the Company has completely kept LPG reserve until reaching 2% of the trade volume since 1 January 2021.

The Company accepted to join Zero Accident Campaign Activity and promote its establishment to be committed in prevention of occupational accident based on the concept that the accident with the cause relating to occupation can be prevented. The hazard statistics in the establishment shall be reduced to be zero through the continuous occupational safety, health, and environment planning and management, resulting in the safety culture for labor’s safety and good health.

The Company achieved “ Most Innovative Customer Service Initiative” from International Finance Awards (IFM Awards) for admiring the Company’s outstanding and excellence in effectively applying innovation, information technology, and data analytics to strengthen the business operations and customer services. The Company has been granted of IFM Award for the 4th consecutive year, considering as another proof of our organization’s commitment and persistence as well as business operations at all times.

The Company achieved “Most Innovative LPG Management Company” from International Finance Awards (IFM Awards) for admiring the Company’s exposure to new innovations and technologies which are used to develop quality, reliable, safe products with integrated services.

The Board of Directors’ Meeting No. 8/2021 held on 11 August 2021 resolved to approve the Company’s acquisition of Thai Gas Cylinder Co., Ltd. (TGC) in the limit amount of THB 45,999,804 as the investment in the Liquefied Petroleum Gas Cylinder Repair Business, and on 20 October 2021, the Company has already held shares in of Thai Gas Cylinder Co., Ltd. in the proportion of 99.99 %.

The Board of Directors’ Meeting No. 1/2021 held on 24 February 2021 resolved to approve additional investment framework in an amount of THB 100,000,000 to invest in the installation of Solar Rooftop for customers.

The Company achieved the expansion of distribution points including packing plants in accordance with the strategies established, resulting in the increase in sales amount among customers with long-term potential.

In terms of export, the Company has successfully exported LPG to Vietnam on a trading basis, the sales amount is in line with the goals set.

The Company has penetrated the market of portable canned gas to expand the product line, launched "Canned Gas" as a canned butane gas with high quality, environmentally friendliness, and opened the Modern trade market.

The Company achieved the expansion of other businesses, by preparing M&A with Thai Gas Cylinder Co., Ltd. for the gas cylinder repair business which tends to be quite good. Moreover, this supports the Company in terms of margin gain because the Company is necessary to repair tanks. In the future, the Company shall plan to expand the capacity to further support the volume of tank repairs.

The Board of Directors' Meeting No. 9/2022 held on 11 August 2022 resolved to approve an additional investment framework of 250,000,000 baht to invest in the installation of solar rooftop for customers. This year marks an important step towards a new era in the Company's energy business, with the Company signing a solar rooftop purchase agreement with its partners to sell 6 megawatts of electricity in accordance with the investment framework approved by the Board of Directors.

The Company achieved the strengthening of its gas retail business in accordance with the Company's goals, that is, the Company can expand the channels to directly distribute to consumers through 20 gas stores of Thai Gas Corporation Co., Ltd. , a subsidiary, in order to expand distribution points more comprehensively to consumers.

The Company was awarded for honoring the leader of organization who inspires and supports the sustainability in expanding the scope and offering products based on performance, strategies, innovations and achievements in various areas. In 2022, the Company won 3 awards from global organizations, including:

  1. Global Brands Banking & Finance Awards 2022 from England as the Energy Company of the Year in 2022, WP Energy has received this award one more time, it is awarded to the business leaders who efficiently manage energy, support partners and provide comprehensive after-sales services from upstream to downstream, and also expand the scope and product offering to integrated energy solution providers.
  2. The Global Economics Awards 2022 from England under the Category of Best Customer-centric LPG Distributor. In addition to being recognized for outstanding services in terms of service solutions that meet requirements of all customer segments, WP Energy has also been recognized for expanding the scope and offering products, providing services to business partners and sustainability, becoming an internationally recognized integrated energy solution provider in Thailand's energy industry.
  3. Asia Corporate Excellence & Sustainability Awards 2022 (ACES Awards 2022) from Malaysia under the Category of Community Initiative. The Company was considered and assessed for the status in disclosing its sustainability to the public and relevant stakeholders through the Company’s sustainability reports, reflecting the operations of WP Energy that is committed to developing economy, society and environment, so that the Company shall sustainably grow in accordance with international principles of Sustainable Development Goals (SDGs).

This also emphasizes the achievements in expanding the scope and offering products, providing services to business partners, and sustainability, becoming an internationally recognized integrated energy solution provider in Thailand's energy industry.

The Company purchased assets and land which is the location of a liquefied petroleum gas terminal owned by Takuni Public Company Limited which is located on Title Deed No. 30696 and 30697, Ban Patum Sub-district, Sam Khok District, Pathum Thani Province, in a total area of 7 rai, water gas capacity of 400 tons, with investment value of Baht 35 million.

The Company received a success award to sustain the goal of being a “leading company of Thailand’s one-stop energy business” that drives the business under the power of positive thinking. The said success is entirely derived from the continuous customer trust in the Company’s services and products, as a motivation of the Company’s business development will for growth and firm step abreast with the customers. This year, The company has won awards. From a global organization The 5 awards are:

  1. Emerging Women CEO of the Year (Utility & Energy) 2023 - Ms. Chomkamol Poompanmoung

    The Award admires the chief executive officer of a remarkable organization in the energy industry to be glorified as the “top newcomer female organizational leader of the year”. In the said Award, the various aspects of the potential, the ability of systematic strategy formulation, and management for sustainable growth of the organization according to the international principles were prudently assessed and considered.

  2. “Best Place to Work (LPG) 2023” from The Global Economics Awards

    WP Energy has been admired for its continuous focus on in-house personnel development in various dimensions, and preparedness for the rapidly changing world. The Company has shown its personnel potential and competence in systematic strategy formulation and crisis management, the rapid counter of occurring crises in every dimension, as well as the creation of a new business model to manage the business for sustainable business continuity.

  3. “Most desirable workplace environment 2023” from Gazet International Annual Awards

    In 2023, WP Energy has continuously received the Award conferred to the outstanding business leader in organizational management and new era personnel from the employee opinion survey, efficiency of human resource work covering the entire life cycle of the staff, linkage of people management outcome with organizational business outcome.

  4. “Leading supplier of liquefied petroleum gas (LPG) 2023” from International Business Magazine Awards

    WP Energy has continuously and yearly received the Award again. The Award is given to the business leader who efficiently manages the energy, grows from the primary business of LPG distributor toward wholesaler, extends the scope, and offers products toward the service provider of integrated energy solutions mostly relied on by the customers.

  5. “Most Socially Responsible Energy Company 2023” from World Business Outlook Awards

    In the said Award, the disclosure status of the sustainability information to the public and related stakeholders was considered and assessed through an organizational sustainability development report, reflecting WP Energy’s operation that commits the economic, social, and environmental development for sustainable growth of the organization according to the International Principles of Sustainable Development Goals (SDGs).

The Board of Directors Meeting No. 3/2024, held on 21 March 2024, resolved to approve a loan of 36 million baht to Thai Gas Cylinder Co., Ltd. to purchase land for construction as a warehouse for storing liquefied petroleum gas cylinders to be able to better manage the tank repair plant area and produce new cylinders, as well as to support the production of more new cylinders.

The company was awarded the Achievement Award. Continue to aim to be a “leading company in Thailand’s integrated energy business” that drives business under the power of positivity. Along with caring and taking into account the safety of products to the utmost in the production process. This has always created peace of mind and trust for Thai customers with positive feedback. It is also not stopping to search for new possibilities in terms of products. New business models can be used to help develop and improve the lives of Thai people. This year’s achievements include:

  1. “Energy Company of the Year Thailand 2024” from the International Business Magazine Awards.

    WP Energy Receives Prestigious Awards, Reinforcing the Image of a Leading Integrated Energy Group and a Leader in the Distribution of Liquefied Petroleum Gas in Thailand. The award was held for the seventh consecutive year, which is another platform where WP Energy has been honored for excellence in driving business operations efficiently. We can use it to increase competitiveness and enhance the potential of personnel to be ready for challenges and changes that occur at any time. This serves as further evidence of the company’s dedication to developing its business for sustainable growth.

  2. “Best CEO in the LPG Industry - Thailand 2024” from Global Brands Magazine Awards

    In addition to being recognized for its outstanding performance in driving business efficiency, WP Energy was also honored with the Best CEO Awards as a leader in the distribution of liquefied petroleum gas in Thailand for its successful business and role model. WP Energy has successfully navigated the challenges posed by today’s rapidly changing all-around factors, propelling the organization forward. The goal is to transform the organization into one that can enhance its competitiveness in the business sector. The organization is committed to achieving high performance while operating responsibly toward its stakeholders and taking the environment into consideration. We achieve growth- oriented corporate governance by creating holistic value for stakeholders in all sectors throughout the value chain and thereby supporting sustainable business growth.

  3. CGR 4 stars “Very Good”

    WP Energy received a 4-star rating, or “Very Good,” in the Corporate Governance Report of Thai Listed Companies 2024 (CGR) from the Institute of Directors Association Thailand (IOD), supported by the Stock Exchange of Thailand. This rating confirms the company’s potential in business operations, focusing on good corporate governance alongside business operations to ensure sustainable growth. It takes into account the roles of stakeholders and transparency to build shareholder confidence and promote continuous and sustainable business development in the future

  4. Certificate of the ESG DNA Project: Sustainability Knowledge Series

    WP Energy received a certificate for the ESG DNA project, a set of sustainability knowledge that promotes and supports employees in the organization to take ESG work courses and instill a sustainability DNA. This knowledge enables employees to apply it to their respective departments and in all business processes, furthering the organization’s development towards sustainable growth.

The Board of Directors’ Meeting No. 10/2024, held on 24 October 2024, resolved to appoint a suitable independent director as a member of the Corporate Governance and Sustainability Committee. This committee is responsible for reviewing and supporting the operations of the Board of Directors, setting the policy framework and guidelines for the development of good corporate governance and sustainability practices, and ensuring that the company’s standards align with best practices in governance and sustainability at both national and international levels.

The Board of Directors’ Meeting No. 12/2024, held on 24 December 2024, resolved to approve the company’s intention to join the Thai Private Sector Collective Action Coalition Against Corruption (CAC) in January 2025. This move aims to elevate the company’s business standards, enhance its credibility in the eyes of stakeholders such as customers, investors, and partners, support the company’s positive image, and drive the company toward stable long-term growth.