AR 2010 - Investor Relations

197 Pages·2011·3.98 MB·English

2010 Annual Report
Minor International Public Company Limited
Anantara Qasr Al Sarab, Anantara Si Kao
Abu Dhabi Resort & Spa
Anantara Dhigu
Resort & Spa, Maldives
Anantara Golden Triangle Anantara Seminyak
Resort & Spa, Chiang Rai Resort & Spa, Bali

Hospitality and Resorts
Direct-Owned Managed
Anantara Dhigu Resort & Spa, Sales 22.8 18.9 20.6
Maldives USD Million
Our largest Anantara resort
by revenue posted USD 20.6 million
in 2010 revenues
2008 2009 2010
Anantara Veli Resort & Spa, Sales 9.8 8.6 9.0
Maldives USD Million
Revenue has doubled since this
resort was rebranded as Anantara
in 2008
2008 2009 2010
Anantara Golden Triangle Sales 133 102 92
Resort & Spa Baht Million
Our stunning Anantara in north
Thailand was recognized
in Travel + Leisure’s top 500
in 2010 2008 2009 2010
Anantara Hua Hin Resort & Spa Sales 280 188 206
Sales at the Anantara Hua Hin Baht Million
were up 10% in 2010
2008 2009 2010
Anantara Bophut Resort & Spa, Sales 220 182 144
Koh Samui Baht Million
Now in its sixth year of operation,
this resort is still one of the top luxury
resorts in Samui
2008 2009 2010
Anantara Phuket Resort & Spa Sales 44 208 274
In its second full year of operation, our Baht Million
flagship Anantara achieved sales of
Baht 274 million
2008 2009 2010
Anantara Seminyak Sales 29 48 60
Resort & Spa, Bali IDR Million
Having opened in 2008, this managed
resort achieved a 25% increase
in revenues in 2010
2008 2009 2010
Anantara Si Kao Resort & Spa Sales 7 56 71
One of our most scenic managed Baht Million
resorts with 139 sea-view rooms

2008 2009 2010
Anantara Lawana Resort & Spa, Sales - 14 143
Koh Samui Baht Million
Opened as a managed Anantara resort
in November 2009 and achieved sales
of Baht 143 million in 2010
2008 2009 2010
Anantara Qasr Al Sarab, Sales - 7 48
Abu Dhabi AED Million
Achieved revenues of AED 48 million
after opening as a managed Anantara
resort in October 2009
2008 2009 2010
Direct-Owned Managed
Desert Island Resort & Spa, Sales 4 22 20
Abu Dhabi AED Million
This Anantara managed resort
posted sales of AED 20 million
in 2010
2008 2009 2010
Anantara Baan Rajprasong Sales - 41 64
Service Suites, Bangkok Baht Million
We applied our Anantara brand
and management expertise to this
serviced apartment complex
in March 2009 2008 2009 2010
Anantara Sathorn Sales - - -
In Bangkok, we opened Baht Million
the Anantara Sathorn
as an managed resort
in December 2010
2008 2009 2010
Four Seasons Sales 2,018 1,622 1,541
Our award winning Four Seasons hotels Baht Million
in Bangkok, Chiang Mai, Samui and
Chiang Rai combined to achieve
revenues of Baht 1,541 million
2008 2009 2010
All our Four Seasons Resorts
have been recognized by the leading
travel and hospitality magazines.
For example, the Four Seasons
Tented Camp in Chiang Rai was
recognized as the #1 resort in the world
by the readers of Conde Nast.
Marriott Sales 2,796 2,149 2,142
Our Marriott / JW Marriott resorts Baht Million
including four that are located
in Bangkok, Hua Hin, Pattaya
and Phuket combined for revenues
that were Baht 2,142 million 2008 2009 2010
Elewana Africa Sales 6.3 5.9 8.5
Our safari camps operating USD Million
in Tanzania achieved
sales of USD 8.5 million in 2010
2008 2009 2010
Minor International Brands Sales 8.4 6.7 8.1
Minor International branded resorts USD Million
including Naladhu in the Maldives,
Harbour View in Vietnam and Kani
Lanka in Sri Lanka combined for
sales of USD 8.1 million in 2010 2008 2009 2010
MSPA International Sales 421 431 487
34 spas in 10 countries combined Baht Million
for total sales of Baht 487 million
in 2010
2008 2009 2010
Restaurants
Direct-Owned Franchised
The Pizza Company Sales 4,041 4,257 4,439
Our 169 company owned Baht Million
and 79 franchised outlets saw
system wide sales increase
by 4% to Baht 4,439 million
2008 2009 2010
Swensen’s Sales 2,273 2,481 2,576
With 112 company owned and Baht Million
130 franchised outlets, Swensen’s
posted a 4% increase in system
wide sales to Baht 2,576 million
2008 2009 2010
Thai Express Sales 75 115 103
Thai Express and related brands SGD Million
such as New York New York and
Xin Wan Hong Kong Café had sales
that were down 11% in 2010
2008 2009 2010
The Coffee Club Sales 215 251 292
Coffee Club, which is 95% AUD Million
franchised, posted system wide
sales that were up 16% to
AUD 292 million
2008 2009 2010
Sizzler Sales 1,503 1,720 1,958
44 Sizzler outlets in Thailand Baht Million
and China combined for sales
that were up 14% to Baht 1,958
million
2008 2009 2010
Dairy Queen Sales 843 875 986
243 company owned Dairy Queen Baht Million
outlets in Thailand achieved sales
of Baht 986 million
2008 2009 2010
Burger King Sales 691 765 816
26 company owned Burger King Baht Million
outlets combined for sales of
Baht 816 million
2008 2009 2010
Sales 461 581 661
Select Service Partner Limited
Baht Million
Our restaurant business in airports
experienced a 14% increase
in revenue
2008 2009 2010
Minor Dairy Limited Sales 833 813 825
Profit from our ice cream factory Baht Million
was up significantly even though
sales were up only 2%
2008 2009 2010
Minor Cheese Limited Sales 490 412 447
Our cheese factory has sales Baht Million
that were up 9% in 2010
2008 2009 2010
Retail
Direct-Owned Franchised Direct-Owned
Esprit Sales 594 477 565
Our largest fashion brand Baht Million
had sales of Baht 565 million
in 2010
2008 2009 2010
Bossini Sales 264 238 243
Sale of this leading fashion brand Baht Million
were Baht 243 million
2008 2009 2010
GAP Sales - - 154
We opened the first of several Baht Million
GAP outlets in March 2010 and
sales from this brand were
Baht 154 million in 2010
2008 2009 2010
Charles & Keith Sales 111 117 144
Sales of Charles & Keith footware Baht Million
increased by 23% to
Baht 144 million
2008 2009 2010
Red Earth, Bloom, Laneige, Sales 234 186 185
Smashbox Baht Million
Our portfolio of leading cosmetics
brands combined for sales of Baht
185 million
2008 2009 2010
Zwilling J.A. Henckels Sales 46 37 36
Sales from our luxury household Baht Million
supplies and kitchenware brand
were Baht 36 million in 2010
2008 2009 2010
ETL Learning Sales 180 148 217
Sales of ETL Learning and Baht Million
World Book were Baht 217 million
in 2010
2008 2009 2010
Tumi Sales 36 32 29
The world’s premier luggage Baht Million
and travel brand anchors
our line of luxury lifestyle brands
2008 2009 2010
Royal Garden Plaza Sales 671 616 623
Our three shopping and Baht Million
entertainment centers that
are located next to our hotels
in Phuket, Pattaya and Bangkok
had revenues of Baht 623 million 2008 2009 2010
NMT Sales 1,391 1,278 1,087
The contract manufacturing Baht Million
NMT business which supplies global
FMCG companies had sales of
Baht 1,087 million in 2010
2008 2009 2010
Minor International Footprint
FOOD HOTEL/SPA

Contents
004 Minor International Footprint
008 Financial Highlights
009 Financial Status at a Glance
010 Chairman’s Message
016 Hospitality Business
026 Restaurant Business
032 Retail Business
036 Corporate Social Responsibility
046 Report of the Board of Directors’ Responsibilities for Financial Statements
047 Report of the Audit Committee
049 Auditor’s Report
050 Financial Statements
131 Management Discussion & Analysis
143 Connected Transactions
151 Nature of Business
152 Major Events in 2010
153 Risk Factors
158 Good Corporate Governance
165 Shareholders’ Structure and Management
175 Subsidiaries, Associated and Affiliated Companies
192 Corporate Information