ข่าวแจ้งตลาดหลักทรัพย์

The Company and subsidiaries set up allowance for doubtful accounts for the year ended December 31, 1999 amounting to approximately Baht 287.4 million (Baht 238.6 million for the Company). Based on historical collection experience, the management believes that the allowance for doubtful accounts is adequate. 6.5 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 238,850 238,850 Multimedia Telephony, Inc. (Philippines) For operations 15.00% 15.00% 92,071 93,044 Loxley and Paka Joint Venture For operations 9.50% 15.00% 25,230 25,230 Poonsup Communication Company Limited For operations 10.50% - 90,000 - Others 11,900 11,400 Total Short-Term Loans 458,051 368,524 Less Allowance for Doubtful Accounts ( 10,400) ( 10,400) Short-term Loans-Net 447,651 358,124 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% - 37,542 34,186 Total Long-Term Loans 412,542 409,186 - 12 - 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 238,850 238,850 Multimedia Telephony, Inc. (Philippines) For operations 15.00% 15.00% 92,071 93,044 Loxley and Paka Joint Venture For operations 9.50% 15.00% 25,230 25,230 Poonsup Communication Company Limited For operations 10.50% - 90,000 - Others 44,773 27,651 Total Short-Term Loans 490,924 384,775 Less Allowance for Doubtful Accounts ( 15,400) ( 10,400) Short-Term Loans - Net 475,524 374,375 Long-Term Loans Thai Telephone and Telecommunication Public Company Limited For operations MLR+0.5% MLR+0.5% 375,000 375,000 Total Long-Term Loans 375,000 375,000 6.6 Inventories These consist of: In Baht Consolidated The Company 1999 1998 1999 1998 Merchandise inventories 594,666,407 607,114,517 275,153,649 282,196,561 Project material 271,731,827 452,615,446 217,410,165 405,908,462 Goods in transit 7,013,570 3,082,959 7,013,570 3,082,959 Total 873,411,804 1,062,812,922 499,577,384 691,187,982 Less allowance for decline in value (100,508,156) ( 88,444,142) ( 83,141,468) ( 79,000,000) Net 772,903,648 974,368,780 416,435,916 612,187,982 - 13 - 6.7 Investments in Subsidiaries, Associated, Related and Other Companies These consisted of: Consolidated Percentage Fully Paid up Of Holding Nature of Business Relationship Share Capital 1999 1998 Associated Companies - At Equity Saxon (Thailand) Blending castrol Company Limited lubricants Shareholders Baht 10,000,000 50 50 Castrol (Thailand) Company Limited Distribute lubricants 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 3,750,000 33 33 Lao Soft Drink Company Limited Produce and sale soft drink in Lao Shareholders Kip 2,448,000,000 30 30 Loxley Aluminium and Design and installation Engineering 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 Company Manufacturing of sodium Limited carboxy methyl cellulose Shareholders Baht 180,000,000 26 26 Lao Brewery Company Limited Produce and sale beer in Lao Shareholders Kip 14,400,000,000 26 26 BHP Steel Building Product Produce and distribute (Thailand) Company Limited lysaght metal sheet Shareholders Baht 83,500,000 25 25 Houay Ho Power Company Limited Hydropower in Lao Shareholders USD 50,000,000 20 20 Thai Flying Service Company Limited Aviation business Shareholders Baht 30,000,000 - 25 Related and Other Companies Available - for - sale securities - at fair value in 1999 and at the lower of the aggregate cost or the aggregate market value in 1998 Thai Telephone and Telecommunication Public Telephone service Company Limited concession Shareholders Baht 11,250,000,000 13 13 Phatra Insurance Public Company Limited Insurance business Shareholders Baht 200,000,000 8 8 General Investments - at cost BHP Steel (Thailand) Produce and distribute Company Limited lysaght metal sheet Shareholders Baht 2,500,000,000 18 18 The Preferred Shares - Subordinated Debentures of Thai Farmers Bank Plc. Fund Fund manager Shareholders Baht 40,000,000,000 0.25 - Space Imaging, Inc. Satellite photography Shareholders USD 216,116,127 0.8 0.8 - 14 - In Thousand Baht Investment - At Cost Investment - At Equity Dividend 1999 1998 1999 1998 1999 1998 Associated Companies - At Equity Saxon (Thailand) Company Limited 5,000 5,000 47,589 90,788 94,943 89,946 Castrol (Thailand) Company Limited 19,600 19,600 275,617 332,469 225,377 58,794 Thai Fiber Optic Company Limited 40,000 40,000 - - - - Ericsson Thai Network Company Limited 1,250 5,000 2,734 10,636 3,998 5,922 Lao Soft Drink Company Limited 25,715 25,715 27,016 28,774 5,340 9,420 Loxley Aluminium and Engineering Company Limited 16,135 16,135 - - - - Newspager Corporation Limited 98,746 98,746 - 35,613 - - Thai Cellulose Products Company Limited 46,800 46,800 - - - - Lao Brewery Company Limited 129,480 129,480 157,772 124,220 26,670 62,553 BHP Steel Building Product (Thailand) Company Limited 20,875 20,875 92,302 96,370 7,515 - Houay Ho Power Company Limited 254,234 254,234 366,742 367,424 - - Thai Flying Service Company Limited - 16,875 - 13,760 - - Others 93,390 92,807 22,032 22,638 780 - Total 751,225 771,267 991,804 1,122,692 364,623 226,635 Related and Other Companies Available - for - sale securities - at fair value in 1999 and at the lower of the aggregate cost or the aggregate market value in 1998 Thai Telephone and Telecommunication Public Company Limited 1,753,873 1,753,873 - - Phatra Insurance Public Company Limited 35,621 35,621 13,061 14,530 Others 13,787 13,787 360 1,750 Total 1,803,281 1,803,281 13,421 16,280 Add (Less) difference between book value and fair value 357,847 ( 915,294) Net 2,161,128 887,987 General Investments - at cost BHP Steel (Thailand) Company Limited 450,000 450,000 - - The Preferred Shares - Subordinated Debentures of Thai Farmers Bank Plc. Fund 100,000 - 10,699 - Space Imaging, Inc. 51,133 51,133 - - Others 215,130 114,050 1,798 - Total 816,263 615,183 12,497 - Less allowance for impairment in value of general investments ( 21,550) ( 20,550) Net 794,713 594,633 - 15 - The Company Percentage Fully Paid - up Of Holding Nature of Business Relationship Share Capital 1999 1998 Subsidiary Companies - At Equity Loxley Business Information Technology 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 Broadcast and Company Limited and subsidiary media/TV cable Shareholders Baht 79,000,000 74 74 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 Newtech Company Limited Construction with polyurethane system Shareholders Baht 20,000,000 67 67 Loxley Pacific Company Limited Telecommunication service Shareholders Baht 300,000,000 63 63 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 Satellite transmission principal commercial operations) services Shareholders Baht 10,000,000 51 51 Loxley Trading Company Limited Sale consumer products 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 - 16 - In Thousand Baht Investment - At Cost Investment - At Equity Dividend 1999 1998 1999 1998 1999 1998 Subsidiary Companies - At Equity Loxley Business Information Technolgy Company Limited and subsidiaries 294,200 294,200 358,236 297,332 - - Loxley Myanmar Company Limited (not yet started principal commercial operations) 4,197 4,197 1,765 1,948 - - Loxley Wireless Company Limited 30,000 30,000 29,056 27,765 - - Jago Company Limited (not yet started principal commercial operations) 330,000 330,000 727 296,535 - - Loxley Energy Company Limited (not yet started principal commercial operations) 2,499 2,499 720 1,658 - - Loxley Utilities Services Company Limited 2,000 2,000 - - - - Loxley Broadcast and Media Company Limited and subsidiary 58,600 58,600 - - - - Loxley Comware Company Limited 4,900 4,900 - - - - Societed Commercial Lao Company Limited 8,714 8,714 46 1,283 - - Loxley Newtech Company Limited 13,334 13,334 - - - - Loxley Pacific Company Limited 188,400 188,400 90,039 90,471 - - Loxley Infra Company Limited 12,000 12,000 10,575 10,670 - - Loxley Pagephone Company Limited and subsidiary 126,500 126,500 211,047 203,460 - - Loxley Satellite Communications Company Limited (not yet started principal commercial operations) 5,100 5,100 2,858 3,435 - - Loxley Trading Company Limited 25,000 25,000 145,190 122,457 - - Loxley Property Development Company Limited 43,000 43,000 32,063 30,382 - - Total 1,148,444 1,148,444 882,322 1,087,396 - - - 17 - Percentage Fully Paid up Of Holding Nature of Business Relationship Share Capital 1999 1998 Associated Companies - At Equity Saxon (Thailand) Company Limited Blending castrol lubricants Shareholders Baht 10,000,000 50 50 Castrol (Thailand) Company Limited Distribute lubricants 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 3,750,000 33 33 Lao soft Drink Company Limited Produce and sale soft drink in Lao Shareholders Kip 2,448,000,000 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 Company Manufacturing of sodium Limited carboxy metholy cellulose Shareholders Baht 180,000,000 26 26 Lao Brewery Company Limited Produce and sale beer in Lao Shareholders Kip 14,400,000,000 26 26 BHP Steel Building Product Produce and distribute (Thailand) Company Limited lysaght metal sheet Shareholders Baht 83,500,000 25 25 Houay Ho Power Company Limited Hydropower in Lao Shareholders USD 50,000,000 20 20 Thai Flying Service Company Limited Aviation business Shareholders Baht 30,000,000 - 25 Related and Other Companies Available - for - sale securities - at fair value in 1999 and at the lower of the aggregate cost or the aggregate market value in 1998 Thai Telephone and Telecommunication Public Telephone service Company Limited concession Shareholders Baht 11,250,000,000 13 13 Phatra Insurance Public Company Limited Insurance business Shareholders Baht 200,000,000 8 8 General Investments - at cost BHP Steel (Thailand) Company Produce and distribute Limited lysaght metal sheet Shareholders Baht 2,500,000,000 18 18 The Preferred Shares - Subordinated Debentures of Thai Farmers Bank Plc. Fund manager Shareholders Baht 40,000,000,000 0.25 - Fund - 18 - In Thousand Baht Investment - At Cost Investment - At Equity Dividend 1999 1998 1999 1998 1999 1998 Associated Companies - At Equity Saxon (Thailand) Company Limited 5,000 5,000 47,589 90,788 94,943 89,946 Castrol (Thailand) Company Limited 19,600 19,600 275,617 332,469 225,377 58,794 Thai Fiber Optic Company Limited 40,000 40,000 - - - - Ericsson Thai Network Company Limited 1,250 5,000 2,734 10,636 3,998 5,922 Lao soft Drink Company Limited 25,715 25,715 27,016 28,774 5,340 9,420 Loxley Aluminium and Engineering Company Limited 16,135 16,135 - - - - Newspager Corporation Limited 98,746 98,746 - 35,613 - - Thai Cellulose Products Company Limited 46,800 46,800 - - - - Lao Brewery Company Limited 129,480 129,480 157,772 124,220 26,670 62,553 BHP Steel Building Product (Thailand) Company Limited 20,875 20,875 92,302 96,370 7,515 - Houay Ho Power Company Limited 254,234 254,234 366,742 367,424 - - Thai Flying Service Company Limited - 16,875 - 13,760 - - Others 91,140 92,807 19,827 22,638 780 - Total 748,975 771,267 989,599 1,122,692 364,623 226,635 Grand Total 1,897,419 1,919,711 1,871,921 2,210,088 364,623 226,635 Related and Other Companies Available - for - sale securities - at fair value in 1999 and at the lower of the aggregate cost or the aggregate market value in 1998 Thai Telephone and Telecommunication Public Company Limited 1,753,873 1,753,873 - - Phatra Insurance Public Company Limited 35,621 35,621 13,061 14,530 Others 13,787 13,787 360 1750 Total 1,803,281 1,803,281 13,421 16,280 Add (Less) difference between book value and fair value 357,847 ( 915,294) Net 2,161,128 887,987 General Investments - at cost BHP Steel (Thailand) Company Limited 450,000 450,000 - - The Preferred Shares - Subordinated Debentures of Thai Farmers Bank Plc. Fund 100,000 - 10,699 - Others 135,880 66,372 1,798 - Total 685,880 516,372 12,497 - Less allowance for impairment in value of general investments ( 20,500) ( 20,000) Net 665,380 496,372 - 19 - The Company accounts for its investment in Loxley Hitachi Cable Engineering Company Limited and investment 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 reducing to 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 cost of the investments. The Company accounts for its investment in Thai Flying Service Company Limited by the equity method. Subsequently in 1998, the Company had not excercised the right to acquire the increasing in the company's authorized share capital which effected the percentage of shareholding in the said company reducing to less than 20%. As a result, the Company changed the accounting method for this investment to the cost method by using the outstanding balance of investment under the equity method as the cost of investment. The financial statements of certain associated companies, which were used as a basis for accounting for the investment under the equity method, had not been audited, due to the certain associated companies are incorporated and operating in foreign countries and certain the financial statements of associated companies are in the process of being audited. The investments in such associated companies at December 31, 1999 and 1998 amounted to approximately Baht 207.3 million and Baht 235.6 million, respectively, which is equivalent to 1.5% and 1.9% of total assets in the consolidated balance sheets and 1.8% and 2.4% in total assets of the Company balance sheets. The equity in results of operations of such associated companies which were included in the statements of income for the years ended December 31, 1999 and 1998, amounted to net income of approximately Baht 94.3 million and Baht 148.1 million, respectively, which is equivalent to (11.6)% and 11.6% of consolidated net income (loss) and (12.2)% and 11.2 % of the Company net income (loss). - 20 - 6.8 Property and Equipment These consist of: Consolidated In Baht Balance as at Balance as at January 1, Movement During the Year December 31, 1999 Addition Deduction 1999 At Appraised Value Land - at cost 48,072,500 - - 48,072,500 Revaluation increment in land 205,481,500 - - 205,481,500 Land - at appraised value 253,554,000 - - 253,554,000 At Cost Land 41,349,635 - - 41,349,635 Buildings and improvements 1,100,819,637 26,236,808 ( 37,554,182) 1,089,502,263 Furniture, fixtures and office equipment 1,034,998,912 104,521,281 ( 154,721,264) 984,798,929 Tools and equipment 74,470,654 3,394,679 ( 14,998,674) 62,866,659 Equipment held for lease 64,236,420 24,351,235 ( 2,835,965) 85,751,690 Transportation equipment 59,954,213 9,893,136 ( 3,964,347) 65,883,002 Communication network (Note 6.20) 536,670,516 93,449,930 ( 141,310) 629,979,136 Construction in progress 2,164,030 64,697,819 ( 16,279,291) 50,582,558 (more)