ข่าวแจ้งตลาดหลักทรัพย์

THE BANGCHAK PETROLEUM PUBLIC COMPANY LIMITED BALANCE SHEETS AS OF DECEMBER 31,1997 AND 1996 1997 1996 Baht Baht ASSETS Current Assets Cash on hand and at banks 2,180,412,193 81,423,120 Short -term investments 114,506,299 5,672,304,711 Trade accounts and notes receivable - Net (Note 2) 2,574,837,897 2,443,918,063 Inventories 4,011,492,920 3,675,574,612 Other current assets Materials and supplies 477,123,020 506,068,006 Others 452,958,555 317,641,768 Total Current Assets 9,811,330,884 12,696,930,280 Investments and Loans (Note 3) Related parties 197,826,073 163,326,320 Others 224,634,364 223,634,364 Property,Plant and Equipment-Net (Note 4) 18,797,351,397 12,481,365,115 Other Assets Deferred income tax (Note 9) 1,595,042,408 - Deferred charges 180,829,523 150,310,183 Long term investment - service station 125,577,077 137,690,837 Long term account receivable - service station 101,265,906 123,263,578 Others 95,570,890 72,537,486 TOTAL ASSETS 31,129,428,522 26,049,058,163 The accompanying notes are an integral part of these statements. (Sign) Aran Thammano (Sign) (Sophon Suphapong) (Mr.Aran Thammano) (Mr.Sophon Suphapong) Chairman President LIABILITIES AND SHAREHOLDERS' EQUITY Current Liabilities Bank overdrafts and loans from financial institutions (Note 5) 5,206,740,698 8,329,468,820 Trade accounts payable 8,309,655,268 2,999,975,988 Current portion of long - term liabilities (Note 6) 5,266,827,000 218,110,000 Other current liabilities Accrued excise tax and oil stabilization fund 239,891,900 278,211,302 Accrued expenses 301,086,195 313,974,989 Others 425,637,090 384,036,383 Total Current Liabilities 19,749,838,151 12,523,777,482 Long - Term Liabilities (Note 6) 794,505,820 3,688,971,168 Other Liabilities Deferred Revenue 90,029,641 95,563,893 Others 27,312,623 22,257,888 Total Liabilities 20,661,686,235 16,330,570,431 Shareholders' Equity Share capital Authorized share capital Common stock 522,040,940 shares par value at Baht 10 per share 5,220,409,400 5,220,409,400 Issued and paid-up share capital Common stock 522,040,940 shares par value at Baht 10 per share 5,220,409,400 5,220,409,400 Paid - in capital Premium on share capital 2,007,950,671 2,007,950,671 Surplus on fixed assets revaluation 5,164,565,549 - Retained earnings Appropriated Legal reserve 547,594,555 547,594,555 Unappropriated (2,420,225,704) 2,016,831,022 Deferred losses from foreign exchange fluctuations prior to year 1996 (52,552,184) (74,297,916) Total Shareholders' Equity 10,467,742,287 9,718,487,732 TOTAL LIABILITIES AND SHAREHOLDERS' EQUITY 31,129,428,522 26,049,058,163 The accompanying notes are an integral part of these statements. THE BANGCHAK PETROLEUM PUBLIC COMPANY LIMITED STATEMENTS OF INCOME FOR THE YEARS ENDED DECEMBER 31, 1997 AND 1996 1997 1996 Baht Baht Revenues Sales (Note 7) 38,384,026,744 31,878,272,173 Other income Interest income 530,993,296 950,254,061 Others 376,339,993 275,790,114 Total Revenues 39,291,360,033 33,104,316,348 Expenses Cost of sales 35,634,012,411 29,425,469,817 Administrative and selling expenses 1,213,407,037 1,030,901,987 Interest expenses 1,007,490,133 1,175,062,206 Directors' remuneration 1,502,750 1,392,181 Total Expenses 37,856,412,331 31,632,826,191 Net Operating Income 1,434,947,702 1,471,490,157 Losses from foreign exchange fluctuations (26,048,125) (9,336,185) Profit before income tax and extraordinary items 1,408,899,577 1,462,153,972 Income Tax - 439,438,582 Profit before extraordinary items 1,408,899,577 1,022,715,390 Extraordinary Items Losses from foreign exchange fluctuations-Managed float (Note 8) (6,788,447,536) - Income tax credit (Note 9) 1,595,042,408 - Net Profit (Loss) (3,784,505,551) 1,022,715,390 Earnings Per Share Profit before extraordinary items 2.70 1.96 Extraordinary items (9.95) - Net Profit (Loss) (7.25) 1.96 The accompanying notes are an integral part of these statements. THE BANGCHAK PETROLEUM PUBLIC COMPANY LIMITED STATEMENTS OF RETAINED EARNINGS ## 1997 1996 Baht Baht Unappropriated Retained Earnings (Accumulated Deficit) At Beginning of Year 2,016,831,022 1,646,666,807 Less Dividend paid 652,551,175 652,551,175 1,364,279,847 994,115,632 Net profit (loss) for the year (3,784,505,551) 1,022,715,390 Total unappropriated Retained Earnings (Accumulated Deficit) (2,420,225,704) 2,016,831,022 Appropriated Retained Earnings Legal reserve 547,594,555 547,594,555 Total Retained Earnings (Accumulated Deficit) (1,872,631,149) 2,564,425,577 The accompanying notes are an integral part of these statements. THE BANGCHAK PETROLEUM PUBLIC COMPANY LIMITED STATEMENTS OF CASH FLOWS 1997 1996 Baht Baht Cash Flows from Operating Activities : Net Profit (Loss) (3,784,505,551) 1,022,715,390 Adjustment to reconcile net profit(loss) to net cash provided by operating activities : Depreciation 695,181,957 651,083,573 Doubtful debts 53,624,099 - Amortization 76,387,161 71,064,402 Losses from foreign exchange fluctuations 15,487,652 9,336,185 Losses from foreign exchange fluctuations - Managed float 4,500,262,093 - Income tax credit (1,595,042,408) - (Gains)Losses from fixed assets disposal 5,313,474 (2,712,472) Deferred revenue (26,806,060) (11,132,682) Pension fund 5,054,735 2,969,659 Earnings from associated companies (4,499,752) (2,462,551) Trade accounts and notes receivable,( increase ) decrease (183,152,573) 238,075,774 Inventories,( increase ) (335,918,308) (1,016,340,830) Other current assets,( increase ) (106,371,801) (4,746,245) Trade accounts payable, increase ( decrease ) 3,884,993,219 (556,514,758) Other current liabilities, increase (decrease) (3,954,981,018) 2,990,480,895 Net Cash Provided by (Used in) Operating Activities (754,973,081) 3,391,816,340 Cash Flows from Investing Activities : Short-term investments, ( increase ) decrease 5,557,798,412 (1,533,590,802) Long-term investments,( increase ) (31,000,000) (330,103,634) Purchase of Property, plant and equipment, ( increase ) (2,015,232,658) (1,514,359,548) Other assets,( increase ) decrease 67,488,020 (12,446,200) Net Cash Provided by (Used in) Investing Activities 3,579,053,774 (3,390,500,184) The accompanying notes are an integral part of these statements. Cash Flows from Financing Activities : Short-term loan, increase 458,393,750 - Loan-term loan, increase (decrease) (530,934,195) 617,016,074 Cash dividends (652,551,175) (652,551,175) Net Cash Used in Financing Activities (725,091,620) (35,535,101) Increase ( Decrease ) in Cash and Cash Equivalents 2,098,989,073 (34,218,945) Cash and Cash Equivalents as of 1 January 81,423,120 115,642,065 Cash and Cash Equivalents as of 31 December 2,180,412,193 81,423,120 Supplemental Cash Flow Information : Cash paid during the year for : Interest expenses 1,104,988,836 1,228,827,337 Income tax 242,837,189 453,062,833 The accompanying notes are an integral part of these statements.