Company's Business

KCE Electronics Public Company Limited (KCE) was established on Nov. 5, 1982 with an initial registered capital of Bt12 million. The Company’s core business is the production and distribution of printed circuit boards (PCBs), under the “KCE” trademark.

The Company listed on the Stock Exchange of Thailand in August 1988, and converted its status from a limited company to a limited public company in December 1992. As of Dec.30, 2021, the Company’s registered capital was Bt591,396,798, with paid-up capital of Bt590,794,798.

PCB Product

Printed circuit boards are an essential part of a wide range of electronic products. PCBs are the foundation component of electronic circuits, and almost all electronic devices used in everyday life contain one or more of them. The boards have a copper track printed onto them that acts as a pathway for electrical signals. The boards’ main function is to mechanically support electronic components and electrically connect the circuit, and are used instead of the more complicated wiring method.

PCBs consist of two main parts: the base, or substrate, and the conductor. The base is a thin layer of non-conductive board that acts as a platform for the components mounted onto it, while the copper conductor connects the different components on the PCB. The base material is made from epoxy fiberglass, which consists of a woven glass epoxy and a coat of epoxy resin, and can be used with many different types of products due to its good performance amid high humidity, its high temperature resistance, and its rigidity (it doesn’t bend easily). The base is usually made in a green or blue color.

PCBs can be single or double sided, and in cases where the circuit is thick and very complex, a multilayer PCB can be configured depending on the board designer's requirements.

The main types are:

  1. Single-sided PCBs: The circuit line for the electrical signal connection is printed on one side of the copper layer.
  2. Double-sided plated-through-hole PCBs: the circuit line that carries the electrical signal is printed on both sides of the copper layer. The board is drilled to make holes for leaded components; copper is then plated through holes called vias, so that the electrical signal on both sides of the board can be connected.
  3. Multilayer PCBs: the circuit lines are on different copper layers: the inner and the outer layers, which are connected with plated-through holes.

The PCB products that the Company produces are as follows:

  1. Double-sided plated-through hole PCBs
  2. Multilayer PCBs (4-24 layers), which area more complex, higher technology board.

Both types of PCBs are used in many industries, i.e. the automotive industry, industrial equipment industry, telecommunications industry, as well as for medical equipment, mobile phones and computer equipment. Due to the fact that the production of PCBs requires modern technology, special techniques and must comply with accepted industry standards, the Company has continuously focused on improving quality control, the production technology and the skill level of operators. The Company has repeatedly expand its production capacity and appointed several sales representatives in overseas countries in order to tap the growing demand for PCBs in the global electronics industry.

Manufacturing facilities

The Company and its subsidiaries have factories and offices for manufacturing as follows:

Raw material/Product
PCB KCE Electronics Public Company Limited
Located at 72-72/1-3 Lat Krabang Industrial Estate
Soi Chalongkrung 31, Kwang Lumplatew, Lat Krabang,
Bangkok
PCB K.C.E. International Co., Ltd. (subsidiary)
Located at 677 Moo 4 Sukhumvit Road
Bangpoo Industrial Estate, Tambol Prangasa
Ampur Muang, Samutprakarn province
PCB KCE Technology Co., Ltd. (subsidiary)
Located at 117, 118 Moo 1 Hi-Tech Industrial Estate
Asia Road, Banlain, Bang Pa-In, Ayutthaya province
Laminate, Prepreg Thai Laminate Manufacturer Co., Ltd. (subsidiary)
Located at 70, 70/1 Lat Krabang Industrial Estate
Soi Chalongkrung 31, Kwang Lumplatew, Lat Krabang,
Bangkok
Chemical Product Chemtronic Technology (Thailand) Co., Ltd. (subsidiary)
Located at 1/28 Moo 5 Tambol Khan Ham
Amphur Uthai, Ayutthaya province
Chemical Product Chemtronic Products Co., Ltd. (subsidiary)
Located at 1/97 Moo 5 Tambol Khan Ham
Amphur Uthai, Ayutthaya province

Major changes and developments

April 2021 The Shareholders’ Meeting No. 38/2021 approved the following :
  • The Company’s financial statements for the year ended Dec. 31, 2020
  • A dividend payment in respect of the Company's operating results in 2020
May 2021
  • Payment of a dividend in respect of the Company's operating results for 2020 at Bt0.40 per share For 1,172,793,596 shares totaling Bt471,957,838
  • The Board of the Directors passed a resolution approving the purchase of land located at 1/7 Rojana Industrial Park, Moo 5, Khanham, Uthai, Phra Nakhon Sri Ayutthaya, from Sanyo Semiconductor (Thailand) Co., Ltd. The asset has the total area of 67-2-91 Rai. value of Baht 221 million. The purpose of the investment is to support business expansion, as well as to enhance long-term value for shareholders.
September 2021 Payment of an interim dividend in respect of the Company’s operating results for the first half of 2021 at Bt0.60 per share for 1,181,073,296 shares totaling Bt708,643,978 .
November 2021
  • The Company achieved an "Excellent" corporate governance in the 2021 Annual survey for the seventh consecutive year.
  • The Company is categorized the Top Quartile under the group of companies with the Market Capitalize of greater than Bt10,000 million.
December 2021 The Master of Science in Branding and Marketing Program (MBM) of Chulalongkorn Business School (CBS), the Stock Exchange of Thailand and the Manager Media Group announced that The Company achieved Thailand’s Top Corporate Brands 2021 Awards in electronics industry sector with 20,248 million Baht of brand value for the third consecutive year.
March 2020 The Board approved the allocation of warrants to purchase ordinary shares of the Company (ESOP-W6) to directors, managements and employees of the Company and its subsidiaries in the amount of not exceeding 10,000,000 units on March 13, 2020. The qualification and condition of the allocation to each directors, managements and employees detailed in the ESOP-W6 project.
April 2020 Payment of an interim dividend in respect of the Company's operating results for July-December, 2019 at Bt0.40 per share for 1,172,793,596 shares totaling Bt469,117,438.
May 2020 The temporary closure of one of our subsidiary, (KCE International Co., Ltd.), due to the impact of the COVID-19 outbreak on the current market and decline in demand from automotive customers worldwide. The temporary closure will begin on May 7, 2020, and end when the COVID-19 outbreak is under control and the automotive market recovers and returns to normality.
July 2020 The Shareholders’ Meeting No. 37/2020 the agendas are as follow:
  • Approved the Company’s financial statements for the year ended Dec. 31, 2019
  • Acknowledge interim dividend payment for the operating result of 2019
  • No dividend payment in respect of the Company's operating results in 2019
July 2020 Started the 5th year of the Employee Joint Investment Program "KCE EJIP No.1" for the employees and management executives of KCE Electronics PCL and its subsidiaries.
August 2020 The Company was categorized under the “Universe” of 2020 ESG100 companies, who have an outstanding sustainability performance regarding the Environment, Social and Governance, in 2020, rated by THAIPAT’s ESG Rating unit, the Foundation for Thailand Rural Reconstruction Movement (TRRM) under the royal patronage of His Majesty the King.
September 2020 Payment of an interim dividend in respect of the Company’s operating results for the first half of 2020 at Bt0.40 per share for 1,172,793,596 shares totaling Bt469,117,438.
November 2020 The Company achieved an "Excellent" corporate governance in the 2020 Annual survey for the sixth consecutive year. The Company is categorized the Top Quartile under the group of companies with the Market Capitalize of greater than Bt10,000 million.
November 2020 The Master of Science in Branding and Marketing Program (MBM) of Chulalongkorn Business School (CBS), the Stock Exchange of Thailand and the Manager Media Group announced that The Company achieved Thailand’s Top Corporate Brands 2020 Awards in electronics industry sector with 25,547 million Baht of brand value for the second consecutive year.
December 2020 The Company achieved an ASEAN Asset Class Publicly Listed Companies Award in the 2019 ASEAN CG Scorecard which receives support from the ASEAN Capital Markets Forum (ACMF) and Asian Development Bank (ADB) to acknowledge the listed companies in ASEAN with outstanding good corporate governance practices.
December 2020 The Company submitted the recertification of Thailand’s private sector Collective Action Coalition (CAC) membership on September 23, 2020, which the CAC already approved the extension of the certification on December 31, 2020.
April 2019 The Shareholders’ Meeting No. 36/2019 approved the following:
  • The Company’s financial statements for the year ended Dec. 31, 2018
  • A dividend payment in respect of the Company's operating results in 2018
  • The issuance and offering of warrants to purchase ordinary shares of the Company (ESOP-W6) to directors, managements and employees of the Company and its subsidiaries in the amount of not exceeding 10,000,000 units
  • The increase of the Company’s registered capital in the amount of Baht 5,000,000 from Baht 586,396,798 to Baht 591,396,798 by issuing 10,000,000 new ordinary shares at Baht 0.50 par value per share, and amendment to Article 4 of the Company’s Memorandum of Association regarding the registered capital to reflect the increase in registered capital.
  • The amendment of the Company’s Articles of Association, Article 31; calling an Extraordinary General Meeting of Shareholders.
May 2019 Payment of a dividend in respect of the Company's operating results for 2018 at Bt0.55 per share for 1,172,793,596 shares totaling Bt645,036,478.
July 2019 Started the 4th year of the Employee Joint Investment Program "KCE EJIP No.1" for the employees and management executives of KCE Electronics PCL and its subsidiaries.
August 2019 The Master of Science in Branding and Marketing Program (MBM) of Chulalongkorn Business School (CBS), the Stock Exchange of Thailand and the Manager Media Group announced that The Company achieved Thailand’s Top Corporate Brands 2019 Awards in electronics industry sector with 34,207 million Baht of brand value.
September 2019 Payment of an interim dividend in respect of the Company’s operating results for the first half of 2019 at Bt0.40 per share for 1,172,793,596 shares totaling Bt 469,117,438.
October 2019 The Company achieved an "Excellent" corporate governance in the 2019 Annual survey for the fifth consecutive year.

Policy and Overview of the Company

KCE Electronics PCL and its subsidiaries are involved in the manufacturing and distributing of printed circuit boards (PCBs), which are the foundation component for a wide range of electronic devices. Its key customer base includes manufacturers of automotive electronic equipment, telecommunication devices, computer networks, industrial equipment, medical equipment and consumer product. Almost all of the Company's production is for exporting worldwide; Europe, United States of America and Asia.

The Group's operational policy is mainly committed to achieving the excellent in manufacturing capability, by initiating various strategies to obtain a better quality product, at a lower cost. The Company continues to seek opportunity to increase profit, by introducing new technologies in production and fully utilize current assets to its utmost benefits, which will be resulted in reaching the maximum efficiency level. Another important policy is the commitment in keeping a long term relationship with its customers by providing the most valuable service- the reputation of quality product, that gain trust from customers ever since. In addition, the Company place an importance on stakeholders and social responsibility by developing "Green technology".

Regarding the management of operations, the Board is responsible for the determination of strategies and key policies. In the early of January 2021, a meeting was organized for CEO and Management, for the purpose of communicating such strategies and setting up the operational objectives (KPI) for the factory as well as for each section of operation. Management of each section then continued to arrange separate meetings to further communicate the strategies and targets down to employee level. During the year, the targets were seriously monitored by comparing actual results with the planned KPI. Managements also regularly reported the operation results to the CEO in the monthly Management meeting. CEO then summarized the operation results for the strategies and reported to the Board in each quarter.

SHAREHOLDING STRUCTURE OF KCE ELECTRONICS PCL AND SUBSIDIARIES / ASSOCIATES