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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