Dear Mr. Ryu Hang-yong,
I have taken note of your preferred investment plan option which is loan/debt plan. I will present all the points we have discussed along with your business plan to our board directors for assessment and consideration to ascertain the viability of the presented project which will be a determinant factor as whether the presented project will be approved for funding or not.
I will have a meeting with other board directors and investment team on Friday May 15, with members of our finance and accounting department Ms. Wanaporn Pornkitipong and Mr. Vinai Vittavasgarnvej of in attendance. During the meeting, we will discuss all the investment parameters pertaining to the presented project. I will revert with our board's decision after the meeting so we can proceed with reviewing of our investment terms sheets subject to our investment team approving the presented project for funding.
Meanwhile, i would like to know your position on the following questions below so i can present them to our board directors and investment team in addition with your business plan to facilitate their assessment and boost the chances of approving the presented project for funding.
1) What is your company's appetite to guarantee safety & security of the investment funds in the pursuit to safeguarding the investment funds against credit related losses, mismanagement, embezzlement and diversion of funds?
2) Does your company have any form of existing insurance policy to cover business operations & liability risks? If yes, please share with us for our review.
3) Is your company prepared to respond to extreme events, like death of the key person or in case of an unstable condition?
4) Does your company have a key man insurance policy in place? If yes, please share with us for our review.
Please endeavor to provide response to these questions above before Friday May 15, so i can present them to our investment team assessment before our board meeting.
Regards,
Sukont Kanjana-Huttakit
Chairman, Srisawad Corp. PCL
99/392 Srisawad Building,
4th, 6th floor, Soi Chaengwattana 10 Intersection 3 (Benjamitr)
Chaengwattana Road, Thung Song Hong Subdistrict,
Lak Si District, Bangkok 10210
Tel: +66-0-2693-5555, Fax: +66-0-2573-1565
I have taken note of your preferred investment plan option which is loan/debt plan. I will present all the points we have discussed along with your business plan to our board directors for assessment and consideration to ascertain the viability of the presented project which will be a determinant factor as whether the presented project will be approved for funding or not.
I will have a meeting with other board directors and investment team on Friday May 15, with members of our finance and accounting department Ms. Wanaporn Pornkitipong and Mr. Vinai Vittavasgarnvej of in attendance. During the meeting, we will discuss all the investment parameters pertaining to the presented project. I will revert with our board's decision after the meeting so we can proceed with reviewing of our investment terms sheets subject to our investment team approving the presented project for funding.
Meanwhile, i would like to know your position on the following questions below so i can present them to our board directors and investment team in addition with your business plan to facilitate their assessment and boost the chances of approving the presented project for funding.
1) What is your company's appetite to guarantee safety & security of the investment funds in the pursuit to safeguarding the investment funds against credit related losses, mismanagement, embezzlement and diversion of funds?
2) Does your company have any form of existing insurance policy to cover business operations & liability risks? If yes, please share with us for our review.
3) Is your company prepared to respond to extreme events, like death of the key person or in case of an unstable condition?
4) Does your company have a key man insurance policy in place? If yes, please share with us for our review.
Please endeavor to provide response to these questions above before Friday May 15, so i can present them to our investment team assessment before our board meeting.
Regards,
Sukont Kanjana-Huttakit
Chairman, Srisawad Corp. PCL
99/392 Srisawad Building,
4th, 6th floor, Soi Chaengwattana 10 Intersection 3 (Benjamitr)
Chaengwattana Road, Thung Song Hong Subdistrict,
Lak Si District, Bangkok 10210
Tel: +66-0-2693-5555, Fax: +66-0-2573-1565
Dear Chairman Sukont Kanjana-Huttakit,
Thank you for your update regarding the upcoming Board of Directors meeting on May 15th and the involvement of your finance and investment teams. I fully recognize that the four points you raised are critical pillars of risk management and essential for building a foundation of trust between our organizations.
Please find our positions regarding your inquiries below:
1. Assurance of Investment Safety and Security
To prevent credit-related losses, mismanagement, or the diversion of funds, AIsports.kr is committed to implementing a rigorous Internal Control System :
* Quarterly External Audits : We will engage a designated accounting firm to conduct regular audits, ensuring absolute transparency in fund execution.
* Multi-Level Approval Process : We will mandate a cross-approval system for significant capital expenditures, requiring authorization from both the CEO and a Board-appointed financial officer.
* ERP System Integration : We will utilize an Enterprise Resource Planning (ERP) system to track fund flows in real-time, effectively eliminating the risk of embezzlement or misappropriation.
2. Business Operation and Liability Insurance
AIsports.kr is currently in an intensive phase of R&D and patent portfolio expansion. In alignment with our global scaling plan, we are preparing the following policies :
* Comprehensive General Liability (CGL) : To cover third-party liabilities during our operational phases.
* Cyber & Data Breach Liability Insurance: As an AI data-driven enterprise, we prioritize the protection of user data and will implement policies to mitigate any digital risks.
* Documents regarding these policies will be finalized and shared during the closing stages of the investment.
3. Contingency Planning for Extreme Events (Business Continuity)
We are building a Sustainable Management Structure to ensure the company remains stable regardless of individual circumstances :
* C-Level Expansion: We are actively recruiting specialized directors (CFO, CTO) to diversify decision-making authority and ensure leadership continuity.
* Systemization of IP: By institutionalizing our proprietary AI models and patent technologies, we ensure that the business operates as a system-driven entity rather than relying solely on individual intuition.
4. Key-Man Insurance Policy
* Implementation Plan : Upon approval of your investment, we commit to obtaining a Key-Man insurance policy with myself as the insured. This is intended to prioritize the protection of the investment capital and provide operational funding for the company in the event of an unforeseen accident, thereby minimizing potential losses for the investor.
* Detailed Terms : Specific coverage amounts and conditions will be finalized following a Board of Directors' decision, after which they will be reported to your firm via the Term Sheet.
I hope the information provided above helps lead to a favorable review during the Board of Directors meeting on May 15th.
Sincerely,
Hang-yong Ryu
CEO, AIsports.kr