Additional Report on Change in Accounting Policy
16 สิงหาคม 2550
Tor.16/2550 August 16, 2007
Subject: Additional Report on Change in Accounting Policy
To: President
The Stock Exchange of Thailand
Reference is made to Loxley public Company Limited ("the
Company")changed its accounting policy for recording investments in
subsidiaries and associated companies in the Company financial statement
from equity method to cost method, starting from January 1,2007 accordance
with the Announcement of the Federation of Accounting Professions No.
26/2549 regarding to the Thai Accounting Standard No. 44 "Consolidated
Financial Statements and Accounting for Investments in Subsidiaries" which
amend to record the investment in subsidiaries and associated from the
equity method to cost method. The change in accounting policy has been
applied retrospectively to the Company's 2006 financial statements, which
are included in the Company's 2007 interim financial statements for
comparative purposes, have been restated accordingly. This change effected
to decrease in the Company's net profit for the six-month period ended June
30, 2007 and 2006 in the amount of Baht 141.63 million (Baht 0.07 per share)
and Baht 27.34 million (Baht 0.02 per share),respectively. The cumulative
effect of the change in accounting policy has been presented in the
Statements of Changes in Shareholders' Equity.
This changing in accounting policy has affected only the
accounts which related to the investments in subsidiaries and associated
company in the Company's financial statements, not in the consolidated
financial statements.
Please be informed accordingly.
Sincerely yours,
Loxley Public Company Limited
(Mr. Pichai Mooputtarak)
Secretary of Board of Director