FINANCIAL STATEMENTS QUARTER 2 (AS OF MARCH 31,2000)

Over 6 months to 12 months 12,911 Over 12 months 14,434 Total 31,400 The Company provided allowance for doubtful accounts covering leasing receivables under operating lease contracts equal to the estimated losses that may be incurred in the collection of receivables amounting to approximately Baht 36.1 million. 5. RECEIVABLES UNDER FINANCE LEASE CONTRACTS - Net In Thousand Baht March 31, 2000 September 30, 1999 Receivables under finance lease contracts (including portion due within one year from March 31, 2000 of approximately Baht 85.7 million) 171,123 211,132 - 4 - In Thousand Baht March 31, 2000 September 30, 1999 Less unearned interest income (including portion due within one year from March 31, 2000 of approximately Baht 3.7 million) ( 7,836) ( 11,468) Net 163,287 199,664 The 62 receivables under finance lease contracts which may be uncollectible as at March 31, 2000, categorized by aging schedules, are as follows: In Thousand Baht Over 3 months to 6 months 5,163 Over 6 months to 12 months 35,853 Over 12 months 39,385 Total 80,401 The Company provided allowance for doubtful accounts covering receivables under finance lease contracts equal to the estimated losses that may be incurred in the collection of receivables amounting to approximately Baht 84.3 million. 6. INVESTMENT IN ASSOCIATED COMPANY - At Cost In Thousand Baht Percentage of Company's Name Business Relation Holding (%) Investment Dividend Associated Company Sarathi Co., Ltd. Car driving service Shareholder 49 245 - 7. DEFERRED INCOME TAX The Company recorded a tax benefit arising from loss carryforward which management believes to be utilized in the succeeding fiscal years amounting to Baht 8 million as part of deferred income tax account at March 31, 2000 and September 30, 1999. The said deferred income tax on recognition of tax benefit arising from loss carryforwards is taken up only in the case that the Company can assure beyond a reasonable doubt that the future operating results will generate sufficient taxable income available against which the deferred income tax arising from loss carryforwards can be utilized in the succeeding fiscal years. In this connection, it is the Company's practice to determine at every accounting period whether the carrying amount of such deferred income tax, which is recorded in the balance sheet, will be fully utilized. - 5 - 8. DEBENTURES On December 13, 1999, the Company issued the unsecured, name registered, unsubordinated and no-trustee debentures with face value of Baht 1,000 per unit for 350,000 units. The offering price is Baht 1,000 per unit totalling Baht 350 million by offering to the specific investors as specified in the Notification of Securities Exchange Commission. The said debentures are mature on December 13, 2001 and bear interest at the fixed rate of 8% p.a.. Interest will be paid semi-annually on June 13 and December 13 of each year. In connection with the terms of the rights and responsibilities of the debentures issuer. The Company, as the issuer, has to comply with certain restrictions and conditions as stipulated therein such as maintaining a certain financial ratio, etc. 9. LONG - TERM LOANS FROM RELATED COMPANIES As at March 31, 2000, the Company has overdraft line and other credit facilities with a related local bank totalling Baht 609 million, which bear interest at the rates specified in the agreements. The Company entered into loan agreement with the said related local bank. The loan bears interest at the rate specified in the agreement and is repayable in installments at the amounts indicated in the agreement. The loan agreement contains certain conditions and restrictions which include, among others, maintaining certain financial ratios, etc.. 10. ASSETS HELD FOR LEASE As at March 31, 2000 and September 30, 1999, the Company had a schedule by years of minimum future rentals for the next five years of assets held for operating lease as follows: In Thousand Baht Year ending March 31/September 30 2000 1999 2000 497,519 520,840 2001 332,291 320,500 2002 208,356 188,655 2003 79,694 76,259 2004 5,311 1,295 Total 1,123,171 1,107,549 - 6 - Under the provisions of certain lease agreements, the lessees have an option to purchase the leased assets upon the expiration of the lease terms. In this connection, the lessees are required to pay the sums as guarantee for exercising the purchase option in advance. As at March 31, 2000 and September 30, 1999, unguaranteed residual value of assets held for lease under finance lease contracts amounted to approximately Baht 13.7 million and Baht 23.7 million, respectively. 11. DIVIDENDS At the ordinary shareholders' meeting on January 24, 2000, the shareholders approved the payment of dividends amounting to Baht 22.5 million (Baht 0.75 per share for 30 million shares). 12. CONTINGENT LIABILITY As at March 31, 2000, the Company was contingently liable for a letter of guarantee issued by a local bank amounting to approximately Baht 0.07 million. 13. RECLASSIFICATION OF ACCOUNTS Certain accounts in the 1999 interim financial statements were reclassified to conform with the 2000 interim financial statement presentation. 14. SEGMENT FINANCIAL INFORMATION The Company does not present the segment financial information in the interim financial statements since the Company engages in only the business on leasing assets under lease agreements. 15. UNCERTAINTIES OF ECONOMIC SITUATION The operations of the Company have been affected, and may continue to be affected for the foreseeable future, by the adverse economic conditions in Thailand and in the Asia Pacific region, including the volatile foreign exchange rates, slowdown in economic growth and the general deterioration of the economies of countries in the Asia Pacific region. Further, it is not possible to determine the future effect that a continuation of the economic crisis may have on the Company's liquidity and earnings. The accompanying financial statements do not include any adjustment that might result from these uncertainties. - 7 - 16. COMPUTER REMEDIATION PLAN FOR THE YEAR 2000 ("UNAUDITED AND UNREVIEWED") The Company has remedied all hardware and software for the Year 2000. But the Company still faces risks that other companies with whom the Company does business may be unsuccessful in their computer remediation projects . However, the Company expects that the impact, if any, will not be significant to the Company's operations.