ข่าวแจ้งตลาดหลักทรัพย์

Depreciation Value Land 1,344.78 - - 1,344.78 - 1,344.78 Buildings 467.01 0.04 - 467.05 180.93 286.12 Piers, Dykes, Fences 189.25 8.03 0.04 197.24 111.76 85.48 Machineries, equipments and refinery plants 18,568.57 72.96 6.88 18,634.65 8,243.51 10,391.14 Marketing and office equipments 1,546.46 879.92 21.87 2,404.51 511.57 1,892.94 Platinum Catalyst 213.75 - - 213.75 - 213.75 Vehicles 366.14 4.34 11.78 358.70 165.80 192.90 Leasehold 1,475.01 49.21 - 1,524.22 283.47 1,240.75 Asset transferring fee 41.80 - - 41.80 40.32 1.48 Construction Work in Progress 3,302.73 337.02 967.29 2,672.46 - 2,672.46 Total 27,515.50 1,351.52 1,007.86 27,859.16 9,537.36 18,321.80 Included in the construction work in progress of Baht 2,672.46 million is interest expense of Baht 64.85 million. For the third quarter , the total depreciation is Baht 220.58 million and for nine months is Baht 657.68 million , of which Baht 137.23 million and Baht 406.64 million is booked as cost of product , and Baht 83.35 million and Baht 251.04 million as administrative expenses, respectively. 7. Deferred income tax ( Accounting Policy 2.7 ) As of September 30 ,1998 , the balance of deferred income tax was Baht 1,495.85 million. For the accounting period ended September 30 ,1998 , the Company adjusted the beginning balance of it in the amounts of Baht 6.52 million and amortized as expense in the amounts of Baht 92.67 million. As of September 30 ,1999 , the balance of deferred income tax is Baht 628.91 million. For the accounting period ended September 30 ,1999 , the Company reduces deferred income tax by Baht 925.92 million in according with the reestimated future profit. 8. Bank overdrafts and loans from financial institutions Bank overdrafts and loans from financial institutions were Baht 7,830.03 million , most of this is Baht 5,347.41 million ( USD 130 million ) short term loans from financial institution overseas with interest rates of LIBOR plus an agreed margin. 9. Long - Term Loans ( Accounting Policy 2.9 ) Million Baht 1999 1998 Foreign loan International Bank for Reconstruction and Development 1,708.06 1,421.64 Local loan Government Saving Bank 4,750.00 5,000.00 Debenture 1,370.00 - Total Long term Loan 7,828.06 6,421.64 Less Current portion of long-term loan 1,864.60 585.53 Balance 5,963.46 5,836.11 The loan interest rates vary from 5.59% to 11.50% per annum. 10. Interest Expense ( Accounting Policy 2.13 ) For the third quarter ,the total interest is Baht 294.01 million and for nine months is Baht 905.02 million ,of which Baht 19.07 million and Baht 64.85 million is recorded as cost of work in progress and Baht 274.94 million and Baht 840.17 million as expense, respectively. 11. Risk Management ( Accounting Policy 2.9.3 ) 11.1 Foreign Currency Risk Management As of September 30,1999,to minimize foreign exchange risk exposure, a forward foreign exchange contract was obtained for USD 2 million. The premium on the forward contract will be amortized over the period of the contract. 11.2 Oil Price Risk Management As of September 30,1999, the Company has an agreement guaranteeing the sale price of oil product of 2.86 million barrels, so as to reduce the risk of changes in the oil price. 12. Contingent Liabilities As of September 30 ,1999 and 1998 the Companys contingent liabilities consisted of : 11.1 Obligations Bank guarantees issued by the banks on behalf of the Company as of September 30,1999 and 1998 at the amount of Baht 140.05 and 166.90 million. 11.2 Allegation The Ministry of Finance(the first defendant) was alleged in a land right transgression case (The claim for damages,which was filed with the civil court, amounts to Baht 1,055 million). The land in question ,which is located at the pier of the Refinery,was leased from the Ministry of Finance. The Company, as the lessee of land owned by the Ministry of Finance,was alleged as the fifth defendant along with the Ministry of Finance. According to the Companys Legal Office opinion,regardless as to the outcome of the case, the Company would not be liable for any losses associated with the above mentioned claim as it is protected under a lease agreement. The case is being appealed with the civil court.13. The Solving of Computer Problem for Year 2000 (Y2K)(Office of the Auditor General as the independent auditor responsible for financial statements audit did not review the information disclosed in this note) The Company has placed great importance in solving the computer problems for the year 2000 (Y2K). It has,since the first quarter of 1997, carried out its modification and the correction work plan so as to have the project completed by the third quarter of 1999. The Company has reserved a budget of Baht 49 million for this work and Baht 39.70 million has been spent. Although, there is still a risk that other companies, with whom the Company does business , may not be able to solve their computer problems on time, however the Company does not foresee any major problems that would have an impact on its business.