Annual Report 2017

128 Annual Report 2017 Movements of long-term loans to a subsidiary for the years ended 31 December 2017 and 2016 were as follows: SET 2017 2016 Opening balance - - Additions 5,046,791 - Repayments - - Closing balance 5,046,791 - (Unit: Baht’000) Sponsorship for joint venture entity Under the shareholder agreement between the SET and a third party, the SET will be a principal sponsor of a joint venture’s program of Baht 90 million in 2017 (2016: Baht 90 million). Contributions to the Stock Exchange of Thailand Foundation SET realizes the importance of corporate social responsibility (CSR) alongside the core business. To grow the business sustainably, the corporation must be CSR-minded and must put into practice basis, SET has established The Stock Exchange of Thailand Foundation to support outstanding CSR projects that greatly benefit the society and the country as a whole. The Foundation was established on 9 August 2006. The SET’s Board governors are also the committee members of the foundation, by position. The Foundation supports three key CSR areas; 1) Doing Good 2) Region, Arts and Culture, and 3) Sports and Society. SET allocated its annual revenues over expenses to support the implementation of the Foundation. Since 2006, SET appropriated one-third of revenues over expenses. On 9 August 2016, an adjustment was made to allocate 13% of revenues over expenses before income tax. For the year ended 31 December 2017, the SET appropriated its annual revenues over expenses of Baht 221.08 million (2016: Baht 401.19 million) to the Foundation. Directors’ remuneration The directors’ remuneration represents director fees and compensation fees for the Group’s board of directors and other sub-committees. Consolidated SET 2017 2016 2017 2016 Director’s remuneration 26,323 25,287 22,761 22,203 26,323 25,287 22,761 22,203 (Unit: Baht’000)