Clarification of the Operating Result Chang Excess 20%
14 สิงหาคม 2551
Tor 15/2551 August 14, 2008
Subject: Submission the Financial Statements Quarter 2/2008 reviewed by
the auditors
To: President
The Stock Exchange of Thailand
Enclosure: The Company and Consolidated Financial Statements Quarter 2/2008
Loxley Public Company Limited ("the Company") would like to submit the
Company and consolidated financial statements Quarter 2/2008 ended June 30,
2008.
The Company's operating results for quarter 2/2008 ended June 30, 2008
represents changes more than 20% compared to the same period at the previous
year. The Company would like to notify that regarding to the consolidated
financial statements; the Company gained profit from normal operation for the
amount of Baht 311.80 million. However,during the period ended June 30, 2008,
TT&T Public Company Limited filed the rehabilitation petition to the Central
Bankruptcy Court. At present, the proceedings of the Court have not yet been
finalized. The Company's management realized that in accordance
with the specific criteria set-down by TAS40 an issuer's default on payment or
a breach of contract or financial reorganization are evidences indicating that
the issuer is impaired.Therefore, the Company has recognized the impairment
loss of Baht 1,996 million in respect of the investments in TT&T Public
Company Limited. This figure represents the cumulative amount of fair value
changes previously recorded in equity that has been reversed to the statements
of income as an impairment loss for this period. Finally, the Company
recorded net loss Baht (1,683.64) million.
Please be informed accordingly.
Sincerely yours,
Loxley Public Company Limited
(Mr. Pichai Mooputtarak)
Company Secretary