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The company only at September 30, 1999 (Unit : 1,000) Company Name Type of Relationship Paid-up % of Investment Dividend Market Business Share Investment Cost Equity price capital method method As of Sep. 30 Related companies - Securities for trading People's Garment Public Garment Co-Director 72,000 13.78 9,920 - 1,191 16,869 Co., Ltd. I.C.C.International Public Cosmetics Co-Director 290,634 0.99 13,214 - 1,003 18,907 Co., Ltd. and Apparel Thai Wacoal Public Ladies's Co-Director 120,000 0.93 8,461 - - 7,659 Co., Ltd. Lingerie Far East Advertising Public Advertising Co-Shareholder 25,000 0.35 505 - 78 733 Co., Ltd. Textile Prestige Public Embroidery Co-Shareholder 108,000 0.35 285 - 57 761 Co., Ltd. Lace Saha Pathana Inter-Holding Investment Co-Director 494,034 0.33 6,836 - 40 8,150 Public Co., Ltd. O.C.C.Public Co.,Ltd.Consumer Products Co-Shareholder 60,000 0.13 41 - - 88 Sahapathanapibul Consumer Products Co-Shareholder 275,875 0.07 495 - 40 980 Public Co., Ltd. Total 39,757 - 2,409 54,147 Add Unrealized gain for marketable securities 14,390 - - - Total securities for trading 54,147 - 2,409 54,147 - General investments Subsidiary company Thanulux Kabinburi Co.,Ltd. Garment Co-Director 35,000 99.99 34,999 8,010 - - Related companies P.T.Mesapro International Garment and Co-Director USD. 800 19.00 3,817 - - - Leatherware Thai Hamilton Co. Ltd. Garment Co-Director 20,000 19.00 12,236 - 760 - Thai Monster Co., Ltd. Garment Co-Director 20,000 19.00 5,549 - 570 - Total Way Image Co., Ltd. Leatherware Co-Director 20,000 19.00 7,132 - 950 - Thai Nakamura Label Co., Ltd. Label Co-Shareholder 20,000 19.00 3,800 - - - Puning Xie Zhong Garment Garment Co-Director USD.2,400 18.00 6,311 - - - Co., Ltd. International Commercial Apparel Co-Director HKD.1,000 18.00 1,302 - - - Coordination (Hong Kong) Ltd. International Leather Leatherware Co-Director 50,000 18.00 8,810 - - - Fashion Corp., Ltd. Champ Ace Co., Ltd. Garment Co-Director 40,000 15.00 6,000 - 2,400 - Thai Takaya Co., Ltd. Jeans Co-Director 30,000 11.00 3,300 - 495 - Thai Poron Co., Ltd. Garment Co-Director 20,000 10.00 2,000 - - - Ascot International Co., Ltd. Knitwear Co-Shareholder 21,000 7.62 1,600 - - - Grand Star Industry Co., Ltd. Cloth Co-Shareholder 20,000 7.50 1,500 - 375 - Belle Maison (Thailand) Direct Sale Co-Shareholder 30,000 7.00 *2,100 - - - Co., Ltd. SSDC (Tigertex) Co., Ltd. Dyeing Co-Director 875,000 5.91 20,906 - - - Woven Fabric Sunrise Garment Co., Ltd. Garment Co-Shareholder 6,500 5.38 385 - - - Thai Le Jour Co., Ltd. Garment Co-Shareholder 20,000 5.00 1,000 - - - Saha Info Technology Information Co-Shareholder 5,000 5.00 * 250 - - - Co., Ltd. Technology Thai Shikibo Co., Ltd. Cotton Yarn Co-Shareholder237,500 4.81 11,425 - - - Thai Staflex Co., Ltd. Powernet Co-Shareholder 60,000 4.00 2,400 - 60 - Thai Gunze Co., Ltd. Garment Co-Shareholder180,000 4.00 7,200 - 810 - Treasure Hill Co., Ltd. Golf Course Co-Shareholder200,000 4.00 6,300 - - - Value Added Textile Co., Ltd. Embroidery Co-Shareholder 50,000 3.00 1,500 - - - Thai Janome Co., Ltd. Sewing Machine Co-Shareholder 88,000 2.00 1,760 - 405 - Sahapat Properties Land Development Co-Shareholder 20,000 1.00 200 - - - Co., Ltd. Thai Itokin Co., Ltd. Garment Co-Director 100,000 1.00 1,411 - - - Racha Uchino Co., Ltd. Cotton Towels Co-Director 81,000 0.49 163 - - - Total general investments 155,356 8,010 6,825 - Less Loss from impairment of investments 12,920 - - - Total general investments 142,436 8,010 6,825 - Total investments 196,583 8,010 9,234 54,147 The company only at September 30, 1998 (Unit : 1,000) Company Name Type of Relationship Paid-up % of Investment Dividend Market Business Share Investment Cost Equity price capital method method As of Sep. 30 Related companies - Securities for trading People's Garment Public Garment Co-Director 72,000 13.78 9,920 - - 4,267 Co., Ltd. I.C.C.International Public Cosmetics Co-Director 147,076 1.95 13,214 - 263 10,313 Co., Ltd. and Apparel Far East Advertising Public Advertising Co-Shareholder 25,000 0.35 505 - 4 336 Co., Ltd. Textile Prestige Public Embroidery Co-Shareholder 108,000 0.35 285 - - 285 Co., Ltd. Lace O.C.C.Public Co.,Ltd.Consumer Products Co-Shareholder 60,000 0.13 41 - - 33 Saha Pathana Inter-Holding Investment Co-Director 494,034 0.09 2,090 - - 492 Public Co., Ltd. Sahapathanapibul Consumer Products Co-Shareholder 275,875 0.07 495 - - 640 Public Co., Ltd. Boutique Newcity Public Apparel Co-Shareholde 120,000 0.02 124 - - 15 Co., Ltd. Total 26,674 - 267 16,381 Add Unrealized loss for marketable securities 9,748 - - - Total securities for trading 16,926 - 267 16,381 - General investments Subsidiary company Thanulux Kabinburi Co.,Ltd. Garment Co-Director 35,000 99.99 34,999 19,671 - - Kunming Shenjian Fashion Garment and Co-Director USD. 500 90.00**11,445 - - - Dress Co., Ltd. Leatherware Associated companies Puning Xie Zhong Garment Garment Co-Director USD.2,400 33.33 24,242 15,204 - - Co., Ltd. Leatherware International Commercial Apparel Co-Director HKD.1,000 20.00 663 2,242 147 - Coordination (Hong Kong) Ltd. Related companies P.T.Mesapro International Garment and Co-Director USD. 800 19.00 3,817 - - - Leatherware Thai Hamilton Co. Ltd. Garment Co-Director 20,000 19.00 12,104 - 250 - Thai Monster Co., Ltd. Garment Co-Director 20,000 19.00 5,566 - 420 - Total Way Image Co., Ltd. Leatherware Co-Director 20,000 19.00 7,132 - 1,050 - International Leather Leatherware Co-Director 50,000 15.00 7,500 - - - Fashion Corp., Ltd. Thai Mitsuboshi Co., Ltd. Garment Co-Director 20,000 15.00 3,000 - 945 - Champ Ace Co., Ltd. Garment Co-Director 40,000 15.00 6,000 - 900 - Thai Hishiya Co., Ltd. Necktie Co-Director 6,000 15.00 *6,300 - - - Thai Takaya Co., Ltd. Jeans Co-Director 30,000 11.00 3,300 - 215 - Thai Poron Co., Ltd. Garment Co-Director 20,000 10.00 2,000 - - - Ascot International Co., Ltd. Knitwear Co-Shareholder 21,000 7.62 1,600 - - - Grand Star Industry Co., Ltd. Cloth Co-Shareholder 20,000 7.50 1,500 - 375 - Belle Maison (Thailand) Direct Sale Co-Shareholder 20,000 7.00 *1,400 - - - Co., Ltd. SSDC (Tigertex) Co., Ltd. Dyeing Co-Director 875,000 5.48 19,597 - - - Woven Fabric Thai Le Jour Co., Ltd. Garment Co-Shareholder 20,000 5.00 1,000 - - - Saha Info Technology Information Co-Shareholder 5,000 5.00 * 250 - - - Co., Ltd. Technology Thai Staflex Co., Ltd. Powernet Co-Shareholder 60,000 4.00 2,400 - - - Thai Gunze Co., Ltd. Garment Co-Shareholder180,000 4.00 7,200 - 1,080 - Thai Nakamura Label Co., Ltd. Label Co-Shareholder 30,000 4.00 1,200 - - - Treasure Hill Co., Ltd. Golf Course Co-Shareholder200,000 4.00 6,300 - - - Sunrise Garment Co., Ltd. Garment Co-Shareholder 10,000 3.50 385 - - - Value Added Textile Co., Ltd. Embroidery Co-Shareholder 50,000 3.00 1,500 - - - Thai Shikibo Co., Ltd. Cotton Yarn Co-Shareholder187,500 3.00 5,625 - - - Sahapat Realestate Land Development Co-Shareholder500,000 2.50 *12,500 - - - Co., Ltd. Thai Janome Co., Ltd. Sewing Machine Co-Shareholder 88,000 2.00 1,760 - 238 - Sahapat Properties Land Development Co-Shareholder 20,000 1.00 200 - - - Co., Ltd. Thai Itokin Co., Ltd. Garment Co-Director 100,000 1.00 1,411 - - - Racha Uchino Co., Ltd. Cotton Towels Co-Director 81,000 0.49 163 - - - Total general investments 188,389 37,117 5,620 - Total investments 205,315 37,117 5,887 16,381 * The companies do not require fully pay for their sales share values. ** The company is in the process of setting up the factory, so it does not get revenue and loss. Investments-Others - Securities for trading comprise : Public Limited Companies 1999 1998 % of Investment % of Investment Investment Investment 1. Thai Toray Textile Mill 0.50 265,320.00 0.50 265,320.00 Add Unrealized gain for marketable securities 342,180.00 - Total securities for trading 607,500.00 265,320.00 - General investments comprise : Limited Companies 1999 1998 % of Investment % of Investment Investment Investment 1. Thai Pleats 12.50 1,000,000.00 12.50 1,000,000.00 2. Make Up Technique Institute 12.00 60.00 - - 3. Builton (Thailand) 10.00 * 250,000.00 10.00 * 250,000.00 4. Miwaki SDN. BHD. 10.00 368,900.00 - - 5. Pan Asia Leather 10.00 5,005,000.00 5.00 5,000,000.00 6. Osoth Inter Laboratories 6.25 88,125.00 - - 7. H & B Intertex 5.00 2,000.00 - - 8. The International Knitting Mills 3.75 1,500,000.00 3.75 1,500,000.00 9. Eastern Rubber 2.50 450,300.00 1.50 450,000.00 10. Sunlots Enterprise 2.19 3,500,000.00 3.50 3,500,000.00 11. Khonkaen Vithes Suksa 1.67 1,000,000.00 1.67 1,000,000.00 12. Thanara 1.25 750,000.00 1.25 750,000.00 13. Adventage Footwear 0.63 1,388,425.00 0.75 1,387,500.00 14. Sigma Holding 0.46 120,000.00 0.46 120,000.00 15. Praram 9 Hospital 0.25 1,000,000.00 0.25 1,000,000.00 Total investments 16,422,810.00 15,957,500.00 Less loss from impairment of investments 12,683,847.50 - Total general investments 3,738,962.50 15,957,500.00 Total investments-Others 4,346,462.50 16,222,820.00 * The companies do not require fully pay for their sales share values. 6. Earnings Appropriation The company's earnings appropriation shall be recorded upon approval from the shareholders' meeting. 7. Provident Fund The company has set up a provident fund under the Provident Fund Act B.E. 2530 (1987) on February 1, 1993. Contributions are made by the company and the employees as stipulated.The company has appointed a Provident Fund Manager to manage the said fund according to the ministerial regulations. However, the company has requested the temporary suspension of the provident fund from October 1, 1997 until December 31, 1999. 8. Earnings per Share Earnings per share is calculated by dividing net income by the number of shares outstanding. 9. Debentures The company issued debentures as the resolution of the 25th ordinary shareholders meeting on 26 April, 1999. The issue of named certificate, unsecured and unsubordinated debenture will be 300,000 units-par value Baht 1,000 per unit,issued on 9 August 1999 3 years period debenture. The interest will be MLR + 0.25, paid every 6 months-on 9 February and 9 August of the year.The first interest payment will be on 9 February 2000. The debenture will be redeemed in full at par maturity date with last interest payment. 10. Commitments and Contingencies As at September 30, 1999, the Company has the following commitments. - The Company has entered into 11 trademark contracts with respective owners concerning the manufacturing and distribution of garments and leather products under their trademarks. Both parties have mutual obligations to fulfil under these contracts. The trademark fees are 0.3-7.5%. - The Company has a total of Baht 79.91 million on available but unutilized L/C lines for ordering imported raw materials. - There are contingent obligations under four bank guarantees issued to guarantee customs duties at Baht 6.67 million and three bank guarantees issued to the use of electricity at Baht 2.66 million. - The Company has signed a 15-year land lease to build a warehouse for raw materials in Chong Nonthri, Yannawa, Bangkok, starting on March 30, 1992 until November 29, 2007. The company paid Baht 300,000.00 for the transfer of leasehold rights plus monthly lease fees. - The Company has the contract for buying software program with a company amounting Baht 4.1 million. The company paid by installment as the amount of Baht 2.6 million. The remained Baht 1.5 million will be paid upon completion of project. 11. Related Party Transactions 11.1 Related transactions of the Company and its subsidiaries are as follows. Consolidated The company only (one thousand baht) (one thousand baht) Accounts receivable and post-date check 101,209 104,048 Accounts payable 4,444 7,276 Loans receivable 112,400 173,400 Accrued expenses 4,498 4,530 Accrued income 31,843 32,836 Sales income 412,663 428,804 Other income 24,960 32,470 Purchase of goods and raw materials 28,253 62,298 Revenue from disposal of fixed assets (105) (95) Other expenses 18,189 18,189 11.2 The Company has been authorized by the 25th shareholders' ordinary general meeting on April 26, 1999 to: 11.2.1 Provide loans to related companies to the amount of Baht 500 million.As at the quarter end, total loans to four related companies amount to Baht 173.4 million. 11.2.2 Provide guarantees to banks and other financial institutions for related companies' liabilities at the amount less than half of the Company's total assets. As at the quarter end, the Company has a total of Baht 132.13 million contingent liabilities from various guarantees to 11 related companies. 12. Segment Information For 9 months (In Thousand) 1999 1998 Bangkok Kabinburi Lamphun Total Bangkok Kabinburi Lamphun Total Revenues 677,199 130,620 115,957 923,776 834,040 153,496 93,713 1,081,249 Loss from impairment 25,637 25,637 of assets Operating profit 39,185 30,067 31,912 101,164 70,552 35,055 12,413 118,020 Profit before 25,723 30,067 31,912 87,702 70,552 35,055 12,413 118,020 realization from investment income Investment income (10,865) (10,865) 13,357 13,357 Net profit 14,858 30,067 31,912 76,837 83,909 35,055 12,413 131,377 Property, plant and 381,359 369,420 equipment, net Other assets 25,537 26,183 Total assets 1,330,670 1,252,190 Note The company has changed the classification for source of revenue to be source of production since this quarter. The company re-arranged the data of the 9 months period as of September 30, 1998 for comparing the data of the 9 months period as of September 30, 1999. 13. Promotional Privileges The company was granted privileges from the BOI according to the Investment Promotion Act B.E. 2520 (1977) Type of promoted business Type 3.1 Type 3.6 Type 3.6 Date of receiving promoted certificate Dec.23, 1993 Aug.31, 1994 Apr.11, 1995 Date of receiving revenue Nov.10, 1994 Feb.14, 1995 Jun.14, 1996 Promotional privilege 1. Tax exempt since the first date (more)