28 พฤศจิกายน 2550
Clarification of change for Investment in Subsidiary
A/C 0422/2007
28 November 2007
To: Director and Manager
The Stock Exchange of Thailand
Subject: Clarification of the effect of the change in
accounting for investment in subsidiary for the year ended
30 September 2007
The company invested in a subsidiary amounting to Baht 10
million. The company accounted for its investment using the cost method
in compliance with the notification from FAP No. 26/2549 dated 11
October 2006 "TAS 44 - Consolidated Financial Statements and
Accounting for Investments in Subsidiaries. The FAP announcement
requires a parent company which has investments in a subsidiary
company, an entity under joint control, or an associate company, which is
not classified as a "held for sale" investment, to record the investment in
accordance with either the cost method or with the recognition and
measurement basis for financial instruments. This adjustment caused the
net income on the separate financial statement to differ from that
reported in the consolidated financial statement. The company had net
income of Baht 267.07 million for the year ended September 30, 2007,
according to the consolidated financial statement. However, the separate
financial statement over the same period showed a net income of Baht
266.92 million. Now, the subsidiary company has not yet started
operation.
For your kind attention.
Yours sincerely,
(Mr. Krirkchai Siribhakdi)
President