SET Releases

(unaudited) (reviewed) Thanulux Public Company Limited and Subsidiaries Balance Sheet As of June 30, (In Thousands) Consolidated The company only ASSETS 1999 1998 1999 1998 Current assets Cash on hand and at banks 29,018 37,064 27,138 35,621 Trade accounts and notes receivable 149,698 178,761 150,811 185,063 Less allowance for doubtful accounts (8,186) (5,110) (8,186) (5,110) Trade accounts and notes receivable, (net) 141,512 173,651 142,625 179,953 Short-term loans Related parties 95,000 157,071 134,700 229,370 Inventories 228,437 244,612 219,636 228,474 Other current assets Accrued revenue 20,882 14,961 20,689 15,246 Others 10,520 6,985 10,514 6,736 Total current assets 525,369 634,344 555,302 695,400 Investment Related parties 139,103 160,963 151,518 177,157 Others 16,592 19,899 16,592 19,899 Property, plant and equipment, (net) 460,400 448,671 390,399 371,254 Other assets Deposit 23,089 23,089 23,089 23,089 Deferred charges 3,360 5,162 1,286 2,728 Others 1,311 1,292 1,296 1,277 Total assets 1,169,224 1,293,420 1,139,482 1,290,804 (unaudited) (reviewed) Thanulux Public Company Limited and Subsidiaries Balance Sheet As of June 30, (In Thousands) Consolidated The company only LIABILITIES AND SHAREHOLDERS' EQUITY 1999 1998 1999 1998 Current liabilities Bank overdrafts and loans from financial institutions 146,227 279,042 144,119 278,777 Trade accounts and notes payable 105,167 172,946 101,684 172,180 Current portion of long-term liabilities 1,400 22,695 1,400 22,695 Short-term loans from related parties 25,000 35,842 - 32,343 Other current liabilities Accrued income tax 3,634 - 3,634 - Accrued expenses 13,637 9,408 12,361 9,618 Accrued royalty 8,173 11,851 8,173 11,851 Others 1,334 2,842 1,634 2,720 Total current liabilities 304,572 534,626 273,005 530,184 Long - term liabilities 10,500 11,900 10,500 11,900 Other liabilities 1,255 900 1,255 900 Total liabilities 316,327 547,426 284,760 542,984 Minority interest - - - - Shareholders' equity Share capital Authorized share capital, common shares 12,000,000 shares Par value Baht 10.00 per share 120,000 120,000 120,000 120,000 Issued and paid-up share capital 120,000 120,000 120,000 120,000 Paid-in capital Premium on share capital 181,125 181,125 181,125 181,125 Retained earnings Appropriated Legal reserve 12,000 12,000 12,000 12,000 General reserve 26,200 26,200 26,200 26,200 Unappropriated 513,572 417,480 515,397 419,306 Unrealized loss on securities for investment - (10,811) - (10,811) Total shareholders' equity 852,897 745,994 854,722 747,820 Total Liabilities and Shareholders' equity 1,169,224 1,293,420 1,139,482 1,290,804 (unaudited) (reviewed) Thanulux Public Company Limited and Subsidiaries Income Statement For the quarter 2 ending June 30, (In Thousands) Consolidated The company only 1999 1998 1999 1998 Revenues Sales 256,994 245,151 253,821 246,739 Other income Licensing income 2,314 1,550 2,314 1,550 Interest income 4,249 7,296 5,493 8,447 Consulting fee 16,383 13,114 16,383 13,114 Profit on exchanges 2,096 16,233 2,080 15,479 Others 16,343 9,069 16,859 9,445 Total revenues 298,379 292,413 296,950 294,774 Operating expenses Cost of sales 200,971 184,785 199,243 189,178 Selling and administrative expenses 38,289 34,242 37,840 47,355 Interest expenses 4,024 7,385 3,580 7,224 Directors' remuneration 2,640 1,320 2,640 1,320 Licensing expenses 9,369 12,010 9,369 12,010 Loss on exchanges 1,255 42,186 1,216 24,358 Total operating expenses 256,548 281,928 253,888 281,445 Profit before income tax 41,831 10,485 43,062 13,329 Income tax 4,200 - 4,200 - Profit before realization from investment income based on the equity method 37,631 10,485 38,862 13,329 Add Investment income based on the equity method (1,191) 883 (2,422) (1,961) Net profit from operating 36,440 11,368 36,440 11,368 Less Profit of minor portion * - - - - Net profit of Thanulux's portion 36,440 11,368 36,440 11,368 Earnings per share (Baht) 3.04 0.95 3.04 0.95 Profit of minor portion (Baht) * (24.61) (56.88) - - (unaudited) (reviewed) Thanulux Public Company Limited and Subsidiaries Retained Earnings Statement For the quarter 2 ending June 30, (In Thousands) Consolidated The company only 1999 1998 1999 1998 Unappropriated retained earnings Beginning balance 507,132 423,329 508,957 425,155 Add Adjustment - 783 - 783 507,132 424,112 508,957 425,938 Less Appropriations Legal reserve - - - - Dividends paid 30,000 18,000 30,000 18,000 Net profit for the period 36,440 11,368 36,440 11,368 Total unappropriated retained earnings 513,572 417,480 515,397 419,306 Appropriated retained earnings Legal reserve 12,000 12,000 12,000 12,000 General reserve 26,200 26,200 26,200 26,200 Total appropriated retained earnings 38,200 38,200 38,200 38,200 Total retained earnings 551,772 455,680 553,597 457,506 (unaudited) (reviewed) Thanulux Public Company Limited and Subsidiaries Changes in Shareholders' Equity Statement For the quarter 2 ending June 30, (In Thousands) Consolidated The company only 1999 1998 1999 1998 Share capital Common shares Beginning balance 120,000 120,000 120,000 120,000 Increase - - - - Decrease - - - - Ending balance 120,000 120,000 120,000 120,000 Paid-in capital Premium on share capital Beginning balance 181,125 181,125 181,125 181,125 Increase - - - - Decrease - - - - Ending balance 181,125 181,125 181,125 181,125 Retained earnings Appropriated Legal reserve Beginning balance 12,000 12,000 12,000 12,000 Increase - - - - Decrease - - - - Ending balance 12,000 12,000 12,000 12,000 General reserve Beginning balance 26,200 26,200 26,200 26,200 Increase - - - - Decrease - - - - Ending balance 26,200 26,200 26,200 26,200 Unappropriated Beginning balance 507,132 423,329 508,957 425,155 Increase 36,440 12,151 36,440 12,151 Decrease 30,000 18,000 30,000 18,000 Ending balance 513,572 417,480 515,397 419,306 Unrealized loss on securities for investment Beginning balance - (4,402) - (4,402) Increase - (6,409) - (6,409) Decrease - - - - Ending balance - (10,811) - (10,811) Total shareholders' equity 852,897 745,994 854,722 747,820 (unaudited) (reviewed) Thanulux Public Company Limited and Subsidiaries Cash Flow Statement For the quarter 2 ending June 30, (In Thousands) Consolidated The company only 1999 1998 1999 1998 Cash flows from operating activities Net profit (loss) 36,440 11,368 36,440 11,368 Add (less) adjustments Depreciation and amortization 12,693 12,316 10,470 10,341 Dividend of associated companies - 1,867 - 1,867 Investment income based on the equity method 1,191 (883) 2,422 1,961 Loss from disposal of securities 135 - 135 - Loss from investment 900 3,150 900 3,150 (Profit) Loss from disposal of fixed assets 90 (19) 92 (17) Trade accounts and notes receivable (increase) decrease (9,502) (11,125) (6,401) (13,331) Inventories (increase) decrease (7,231) (65,400) (8,224) (57,049) Current assets (increase) decrease (16,887) 2,793 (16,385) 1,284 Other liabilities increase (decrease) 121 58 121 58 Trade accounts and notes payable increase (decrease) 17,114 61,891 (34,086) 56,502 Accrued income tax increase (decrease) 3,634 - 3,634 Other current liabilities increase (decrease) (1,576) (699) (893) 215 Profit of minor portion - - - - Net cash provided by operating activities 37,122 15,317 (11,775) 16,349 (unaudited) (reviewed) Thanulux Public Company Limited and Subsidiaries Cash Flow Statement For the quarter 2 ending June 30, (In Thousands) Consolidated The company only 1999 1998 1999 1998 Cash flows from investing activities Short-term loans (increase) decrease Related parties 30,000 41,476 34,335 13,512 Others - 464 - 464 Loans to employees (increase) decrease (11) (5) (11) (5) Acquisition of securities - Related parties (increase) decrease - - - - Disposal of securities - Related parties (increase) decrease 2,865 - 2,865 - Acquisition of fixed assets (30,042) (30,304) (30,008) (6,102) Disposal of fixed assets 252 17 252 17 Other assets (82) 753 (38) 2,423 Net cash used in investing activities 2,982 12,401 7,395 10,309 Cash flows from financial activities Bank overdrafts and loans from financial institutions increase (decrease) (44,315) 23,363 (43,691) 25,267 Long-term liabilities and current portion of long - term liabilities increase (decrease) (700) (20,967) (700) (20,967) Short - term loans - Related parties increase (decrease) (45,535) (14,075) - (13,218) Dividend payments (30,000) (18,000) (30,000) (18,000) Net cash provided by financial activities (120,550) (29,679) (74,391) (26,918) Net increase (decrease) in cash (80,446) (1,961) (78,771) (260) Cash at beginning of period 109,464 39,025 105,909 35,881 Cash at end of period 29,018 37,064 27,138 35,621 Supplemental disclosures of cash flow information : Cash payment during the year Interest payment 4,677 7,468 3,748 7,620 Income tax 226 607 223 607 (more)