SET Announcements

- 8 - The Company Percentage Fully Paid up Of Holding Nature of Business Relationship Share Capital 1999 1998 Subsidiary Companies -At Equity Loxley Business Information Company Limited Trading computer and and subsidiaries banking information system Shareholders Baht 295,000,000 99 99 Loxley Myanmar Company Limited (not yet started principal commercial operations) International trading Shareholders Jad 1,000,000 99 99 Loxley Wireless Company Limited Sale and service of mobile phone Shareholders Baht 30,000,000 99 99 Jago Company Limited (not yet started principal commercial operations) Lottery on-line Shareholders Baht 330,000,000 99 99 Loxley Energy Company Limited (not yet started principal commercial operations) Electric power business Shareholders Baht 2,500,000 99 99 Loxley Utilities Services Sale and service waste Company Limited water treatment Shareholders Baht 15,000,000 90 90 Loxley Broadcast and Media Company Limited and subsidiary Broadcast and media/TV cable Shareholders Baht 79,000,000 74 60 Loxley Comware Company Limited Sale and service of network Shareholders Baht 7,000,000 70 70 Societed Commercial Lao Company Limited Commercial trading in Lao. Shareholders Kip 162,750,000 67 67 Loxley Newteck Company Limited Construction with polyurethane Shareholders Baht 20,000,000 67 67 Loxley Pacific Company Limited Telecommunication service Shareholders Baht 300,000,000 63 70 Loxley Infra Company Limited Projects consultant and construction utility Shareholders Baht 20,000,000 60 60 Loxley Pagephone Company Limited and subsidiary Sale of pager Shareholders Baht 230,000,000 55 55 Loxley Satellite Communications Company Limited (not yet started principal commercial operations) Satellite transmission services Shareholders Baht 10,000,000 51 51 Loxley Trading Company Limited Sale consumer product Shareholders Baht 50,000,000 50 50 Loxley Property Development Construction business and Company Limited building for rent Shareholders Baht 107,500,000 40 40 LoxData Company Limited Call center service Shareholders Baht 10,000,000 - 52 - 9 - In Thousand Baht Investment - At Cost Investment - At Equity Dividend 1999 1998 1999 1998 1999 1998 Subsidiary Companies -At Equity Loxley Business Information Company Limited and subsidiaries 294,200 164,200 304,015 51,353 - - Loxley Myanmar Company Limited (not yet started principal commercial operations) 4,197 4,197 1,902 2,136 - - Loxley Wireless Company Limited 30,000 30,000 29,360 24,524 - - Jago Company Limited (not yet started principal commercial operations) 330,000 330,000 330,000 330,000 - - Loxley Energy Company Limited (not yet started principal commercial operations) 2,499 2,499 1,234 2,529 - - Loxley Utilities Services Company Limited 2,000 2,000 - 6,362 - - Loxley Broadcast and Media Company Limited and subsidiary 58,600 30,600 - - - - Loxley Comware Company Limited 4,900 4,900 - - - - Societed Commercial Lao Company Limited 8,714 8,714 955 6,852 - - Loxley Newteck Company Limited 13,334 13,334 10 998 - - Loxley Pacific Company Limited 188,400 210,000 89,079 120,302 - - Loxley Infra Company Limited 12,000 12,000 10,074 7,875 - - Loxley Pagephone Company Limited and subsidiary 126,500 126,500 196,554 209,520 - - Loxley Satellite Communications Company Limited (not yet started principal commercial operations) 5,100 1,275 3,283 - - - Loxley Trading Company Limited 25,000 25,000 130,405 98,007 - - Loxley Property Development Company Limited 43,000 43,000 31,008 34,560 - - LoxData Company Limited - 5,200 - 4,037 - - Total 1,148,444 1,013,419 1,127,879 899,055 - - - 10 - Percentage Fully Paid up Of Holding Nature of Business Relationship Share Capital 1999 1998 Associated Companies -At Equity Loxley CSR Insulation Company Produce and distribute Limited glasswool material Shareholders Baht 275,000,000 - 50 Saxon (Thailand) Company Limited Blending castrol lubricants Shareholders Baht 10,000,000 50 50 Castrol (Thailand) Company Limited Distribute lubricants branded castrol Shareholders Baht 40,000,000 49 49 Thai Fiber Optic Company Limited Optic Cable Shareholders Baht 100,000,000 40 40 Ericsson Thai Network Company Limited Outside plant services Shareholders Baht 15,000,000 33 33 Lao soft Drink Company Limited Produce and sale soft drink in Lao Shareholders Kip 1,383,452,576 30 30 Loxley Aluminium and Engineering Design and installation Company Limited glass and aluminium Shareholders Baht 54,000,000 30 30 Newspager Corporation Limited Sale and service of pager in USA Shareholders USD 4,896,895 27 27 Thai Cellulose Products CompanyLimited Manufacturing of sodium carboxy metholy cellulose Shareholders Baht 180,000,000 26 26 Lao Brewery Company Limited Produce and sale beer in Lao Shareholders Kip 13,640,021,581 26 26 BHP Steel Building Product Produce and (Thailand) Company Limited distribute lysaght metal sheet Shareholders Baht 83,500,000 25 25 Thai Flying Service Company Limited Aviation business Shareholders Baht 30,000,000 25 25 Houay Ho Power Company Limited Hydropower Shareholders USD 50,000,000 20 20 Related and Other Companies -At Cost BHP Steel (Thailand) Co., Ltd. Produce and distribute lysaght metal sheet Shareholders Baht 2,500,000,000 18 18 Thai Telephone and Telecommunication Public Company Limited Telephone service concession Shareholders Baht 11,250,000,000 13 13 Phatra Insurance Public Company Limited Insurance business Shareholders Baht 200,000,000 8 8 The Preferred Shared - Subordinated Debentures of Thai Farmers Bank Plc. Fund Fund Manager Shareholders Baht 40,000,000,000 0.25 - - 11 - In Thousand Baht Investment - At Cost Investment - At Equity Dividend 1999 1998 1999 1998 1999 1998 Associated Companies - At Equity Loxley CSR Insulation Company Limited - 137,500 - 8,434 - - Saxon (Thailand) Company Limited 5,000 5,000 103,470 160,722 - Castrol (Thailand) Company Limited 19,600 19,600 372,903 307,808 - - Thai Fiber Optic Company Limited 40,000 40,000 - 15,022 - - Ericsson Thai Network Company Limited 5,000 5,000 10,58 17,537 - - Lao soft Drink Company Limited 25,715 25,715 26,834 44,468 5,340 9,702 Loxley Aluminium and Engineering Company Limited 16,135 16,135 - - - - Newspager Corporation Limited 98,746 98,746 34,454 32,057 - - Thai Cellulose Products Company Limited 46,800 46,800 - - - - Lao Brewery Company Limited 129,480 129,480 120,172 175,595 26,670 47,752 BHP Steel Building Product(Thailand) Company Limited 20,875 20,875 96,927 95,085 - - Thai Flying Service Company Limited 16,875 16,875 13,651 15,892 - - Houay Ho Power Company Limited 254,234 254,234 376,728 387,462 - - Others 92,807 92,807 23,549 16,455 - - Total 771,267 908,767 1,179,273 1,276,537 32,010 57,454 Grand Total 1,919,711 1,922,186 2,307,152 2,175,592 32,010 57,454 Related and Other Companies - At Cost BHP Steel (Thailand) Company Limited 450,000 450,000 - - Thai Telephone and Telecommunication Public Company Limited 1,753,873 1,753,873 - - Phatra Insurance Public Company Limited 35,621 35,621 - - The Preferred Shared - Subordinated Bebentures of Thai Farmers Bank Plc. Fund 100,000 - 2,411 - Others 80,159 152,261 150 150 Total 2,419,653 2,391,755 2,561 150 Less Provision for declining in value of long-term investments - Listed securities (1,037,793)( 124,570) - Other securities ( 20,000) - Net 1,361,860 2,267,185 - 12 - The Company accounted for the investments in Loxley Hitachi Cable Engineering Company Limited and investments in Thai Telephone and Telecommunication Public Company Limited by the equity method. Subsequently in 1997 and 1996, the Company sold a portion of investments which effected the percentage of shareholding in the said companies reduced to be less than 20%. As a result, the Company changed the accounting method for these investments to the cost method by using the outstanding balance of investments under the equity method as the cost of the investments. As at March 31, 1999 and 1998, the aggregate market value of investments in listed securities was lower than the aggregate cost by approximately Baht 1,037.8 million and Baht 124.6 million respectively. The valuation adjustment was recorded as "Provision for unrealized loss on decline in value of long-term investments in listed securities" as part of "Capital Deficiency" in the Balance Sheets. 7. LOANS TO RELATED COMPANIES Consolidated These consist of: In Thousand Baht Interest Rate Amount Objective 1999 1998 1999 1998 Short - Term Loans L.B.L. Algamate Partnership Ltd. For operations MOR MOR 238,850 184,850 Multimedia Telephony, Inc.(Philippines) For operations PHIBOR + PHIBOR + 2.5% 2.5% 94,118 104,131 Others 37,019 116,730 Total Short-Term Loans 369,987 405,711 Less Allowance for Doubtful Accounts ( 10,400) - Short-Term Loans - Net 359,587 405,711 Long-Term Loans Thai Telephone and Telecommunication Public Company Limited For operations MLR+0.5% MLR+0.5% 375,000 375,000 LoxComm B.V. Co., Ltd. For operations 15.00% 15.00% 35,069 39,055 Total Long-Term Loans 410,069 414,055 - 13 - The Company These consist of: In Thousand Baht Interest Rate Amount Objective 1999 1998 1999 1998 Short-Term Loans L.B.L Algamate Partnership Ltd. For operations MOR MOR 238,850 184,850 Multimedia Telephony, Inc. (Philippines) For operations PHIBOR + PHIBOR + 2.5% 2.5% 94,118 104,131 Others 63,554 49,882 Total Short-Term Loans 396,522 338,863 Less Allowance for Doubtful Accounts ( 10,400) ( 15,969) Short-Term Loans - Net 386,122 322,894 Long-Term Loans Thai Telephone and Telecommunication Public Company Limited For operations MLR+0.5% MLR+0.5% 375,000 375,000 Others - 10,400 Total Long-Term Loans 375,000 385,400 8.SHORT-TERM LOANS AND ADVANCE FROM RELATED COMPANIES Consolidated These consist of: In Thousand Baht Interest Rate Amount Objective 1999 1998 1999 1998 Short-Term Loans Asia Pacific Post Company Limited For operations - 15.75% - 17,352 C.T.W. Bata Company Limited For operations MOR+1% MOR+1% 9,000 - Others - 1,487 Advance Loxley Utilities Services Company Limited and Siripong Construction Partnership Ltd. Joint Venture For operations - - 8,133 - Other 3,931 - Total Short-Term Loans and Advance 21,064 18,839 (more)