Report on the effect of change in accounting for investments
Sor kor. 0473/50
August 14 ,2007
Subject : Report on the effect of change in accounting for investments
To : Director and Manager of the Stock Exchange of Thailand
On January 1, 2007, the Company has changed the accounting policy for
investments in associates from the equity method to the cost method in the
separate financial statements, in accordance with the Federation of Accounting
Professions' announcement No. 26/2006 regarding the accounting practice for
Accounting Standard No. 44 : Consolidated Financial Statements and Accounting
for Investments in subsidiaries dated October 11, 2006.
The Company has not retroactively adjusted the separate financial statements
in the previous year taken for comparison, because such change has no effect
on the financial statements of year 2006. The Company additionally presented
the "financial statements in which the equity method is applied" for the
three-month and six-month periods ended June 30, 2007 in order to conform with
the new revised accounting standard.
Such change, however, was the change in accounting policy only and did not
cause any change in business fundamentals.
Please notify the shareholders and investors as deemed necessary
Sincerely yours,
(Mr.Sompol Wongurai)
Executive Director