SET Releases

Thanulux Public Company Limited and Subsidiaries Balance Sheet As of December 31, ------------- Consolidated The company only ASSETS 1999 (Baht) 1998 (Baht) 1999 (Baht) 1998 (Baht) Current assets Cash on hand and at banks 53,548,469.40 21,630,096.45 50,677,393.02 16,768,425.01 Fixed deposit (Note 4) 165,000,000.00 - 165,000,000.00 - Trade accounts and notes receivable (Notes 3,5 ) 241,784,689.39 192,042,657.40 242,157,743.90 196,046,962.26 Less allowance for doubtful accounts 5,537,503.93 11,592,293.31 5,537,503.93 11,592,293.31 Trade accounts and notes receivable, net 236,247,185.46 180,450,364.09 236,620,239.97 184,454,668.95 Short-term loans (Note6 ) - Related parties 87,000,000.00 137,500,000.00 145,500,000.00 202,934,692.50 Inventories (Notes 3,7 ) 192,374,589.45 214,956,450.15 180,788,429.74 205,103,927.66 Other current assets Accrued revenue 29,339,115.67 8,100,586.58 29,342,866.37 8,852,067.91 Advances 1,545,987.53 4,543,647.77 1,545,987.53 4,542,344.83 Others 2,931,979.03 2,696,820.29 3,237,818.12 2,563,506.19 Total current assets 767,987,326.54 569,877,965.33 812,712,734.75 625,219,633.05 Investments (Notes 3,8 ) - Related parties 184,884,093.56 157,554,746.79 196,594,514.33 173,601,576.24 - Others 24,057,862.50 16,591,720.00 24,057,862.50 16,591,720.00 Property, plant and equipment, net (Notes 3,9 ) 449,661,536.68 453,307,863.65 382,749,064.94 379,397,705.51 Other assets Advances 23,088,665.75 23,088,665.75 23,088,665.75 23,088,665.75 Deferred charges 2,480,715.99 2,951,136.61 2,440,633.80 543,100.67 Others 4,122,798.46 4,045,788.40 4,103,307.96 4,026,238.89 Total assets 1,456,282,999.48 1,227,417,886.53 1,445,746,784.03 1,222,468,640.11 Notes to the financial statements are part of all the financial statements. Thanulux Public Company Limited and Subsidiaries Balance Sheet As of December 31, ------------- Consolidated The company only LIABILITIES AND SHAREHOLDERS' EQUITY 1999 (Baht) 1998 (Baht) 1999 (Baht) 1998 (Baht) Current liabilities Bank overdrafts and loans from financial institutions (Note 10 ) 330,713.62 200,287,212.56 330,713.62 200,034,212.56 Trade accounts and notes payable 151,821,909.54 141,001,516.64 142,853,449.91 147,375,370.35 Short-term loans from related parties (Note 11) 4,000,000.00 25,488,519.66 - 12,488,519.66 Current portion of long-term liabilities - 1,400,000.00 - 1,400,000.00 Other current liabilities Accrued income tax 13,049,624.04 - 13,049,624.04 - Accrued expenses 52,429,091.65 18,776,803.50 53,097,601.32 18,983,407.82 Accrued royalty 11,211,416.84 9,161,075.95 11,211,416.84 9,161,075.95 Others 4,401,241.42 2,042,200.32 4,401,241.42 1,940,331.75 Total current liabilities 237,243,997.11 398,157,328.63 224,944,047.15 391,382,918.09 Debenture (Note 12) 300,000,000.00 - 300,000,000.00 - Long - term liabilities - 11,200,000.00 - 11,200,000.00 Other liabilities 1,593,226.34 1,049,940.22 1,531,711.34 1,049,940.22 Total liabilities 538,837,223.45 410,407,268.85 526,475,758.49 403,632,858.31 Minority interest 239.62 325.01 - - Shareholders' equity Share capital Authorized share capital, common shares 12,000,000 shares Par value Baht 10.00 per share 120,000,000.00 120,000,000.00 120,000,000.00 120,000,000.00 Issued and paid-up share capital 120,000,000.00 120,000,000.00 120,000,000.00 120,000,000.00 Premium on share capital 181,125,000.00 181,125,000.00 181,125,000.00 181,125,000.00 Retained earnings Appropriated Legal reserve 12,000,000.00 12,000,000.00 12,000,000.00 12,000,000.00 General reserve 26,200,000.00 26,200,000.00 26,200,000.00 26,200,000.00 Unappropriated 558,405,371.18 477,685,292.67 560,230,860.31 479,510,781.80 Unrealized gain (loss) for marketable securities 19,715,165.23 - 19,715,165.23 - Total shareholders' equity 917,445,536.41 817,010,292.67 919,271,025.54 818,835,781.80 Total Liabilities and Shareholders' equity 1,456,282,999.48 1,227,417,886.53 1,445,746,784.03 1,222,468,640.11 Notes to the financial statements are part of all the financial statements. Thanulux Public Company Limited and Subsidiaries Income Statement For the year ended December 31, ------------- Consolidated The company only Revenues 1999 (Baht) 1998 (Baht) 1999 (Baht) 1998 (Baht) Sales 1,227,323,492.95 1,132,297,371.09 1,215,829,920.75 1,125,721,512.60 Other income Licensing income 10,050,047.70 8,233,495.32 10,050,047.70 8,233,495.32 Interest income 17,247,429.54 28,375,450.93 22,892,366.71 34,888,870.45 Profit on exchanges 13,837,181.71 220,978,988.20 13,471,307.26 192,745,670.96 Consulting fee 53,801,552.97 37,059,907.40 53,801,552.97 37,059,907.40 Others 32,888,313.41 28,810,670.19 35,197,984.49 31,588,624.88 Total revenues 1,355,148,018.28 1,455,755,883.13 1,351,243,179.88 1,430,238,081.61 Operating expenses Cost of sales 947,165,009.77 877,931,476.23 942,550,485.16 882,252,288.22 Selling and administrative expenses 171,452,160.58 168,966,518.00 169,007,163.16 165,646,367.30 Loss on exchanges 9,215,390.78 178,445,979.52 9,215,390.78 159,047,763.78 Interest expenses 20,670,660.73 28,478,883.68 19,572,612.79 27,851,338.56 Licensing expenses 40,951,881.11 32,567,021.47 40,951,881.11 32,567,021.47 Directors' remuneration 2,640,000.00 1,320,000.00 2,640,000.00 1,320,000.00 Loss from impairment of assets 17,743,162.85 - 17,726,600.35 - Other expenses 16,848,840.55 17,453,037.31 16,848,840.55 17,453,037.31 Total operating expenses 1,226,687,106.37 1,305,162,916.21 1,218,512,973.90 1,286,137,816.64 Profit before income tax 128,460,911.91 150,592,966.92 132,730,205.98 144,100,264.97 Income tax 14,912,799.00 - 14,912,799.00 - Profit before realization sharing from Subsidiary company and Related company 113,548,112.91 150,592,966.92 117,817,406.98 144,100,264.97 Add Profit (loss) sharing from Subsidiary company and Related company (2,828,119.79) 1,755,588.63 (7,097,328.47) 8,248,160.73 Net profit from operating 110,719,993.12 152,348,555.55 110,720,078.51 152,348,425.70 Add Profit (loss) of minor Portion 85.39 (129.85) - - Net profit 110,720,078.51 152,348,425.70 110,720,078.51 152,348,425.70 Earnings per share 9.23 12.70 9.23 12.70 Notes to the financial statements are part of all the financial statements. Thanulux Public Company Limited and Subsidiaries Retained Earnings Statement For the year ended December 31, ------------- Consolidated The company only 1999 (Baht) 1998 (Baht) 1999 (Baht) 1998 (Baht) Unappropriated retained earnings : Beginning balance 477,685,292.67 343,336,866.97 479,510,781.80 345,162,356.10 Less Appropriations : Dividends paid 30,000,000.00 18,000,000.00 30,000,000.00 18,000,000.00 Net profit for the year 110,720,078.51 152,348,425.70 110,720,078.51 152,348,425.70 Unappropriated retained earnings 558,405,371.18 477,685,292.67 560,230,860.31 479,510,781.80 Appropriated retained earnings : Legal reserve 12,000,000.00 12,000,000.00 12,000,000.00 12,000,000.00 General reserve 26,200,000.00 26,200,000.00 26,200,000.00 26,200,000.00 Total appropriated retained earnings 38,200,000.00 38,200,000.00 38,200,000.00 38,200,000.00 Total retained earnings 596,605,371.18 515,885,292.67 598,430,860.31 517,710,781.80 Notes to the financial statements are part of all the financial statements. Thanulux Public Company Limited and Subsidiaries Changes in Shareholders' Equity Statement For the year ended December 31, ------------- Consolidated The company only 1999 (Baht) 1998 (Baht) 1999 (Baht) 1998 (Baht) Share capital Common shares Beginning balance 120,000,000.00 120,000,000.00 120,000,000.00 120,000,000.00 Increase - - - - Decrease - - - - Ending balance 120,000,000.00 120,000,000.00 120,000,000.00 120,000,000.00 Paid-in capital Premium on share capital Beginning balance 181,125,000.00 181,125,000.00 181,125,000.00 181,125,000.00 Increase - - - - Decrease - - - - Ending balance 181,125,000.00 181,125,000.00 181,125,000.00 181,125,000.00 Retained earnings Appropriated Legal reserve Beginning balance 12,000,000.00 12,000,000.00 12,000,000.00 12,000,000.00 Increase - - - - Decrease - - - - Ending balance 12,000,000.00 12,000,000.00 12,000,000.00 12,000,000.00 General reserve Beginning balance 26,200,000.00 26,200,000.00 26,200,000.00 26,200,000.00 Increase - - - - Decrease - - - - Ending balance 26,200,000.00 26,200,000.00 26,200,000.00 26,200,000.00 Unappropriated Beginning balance 477,685,292.67 343,336,866.97 479,510,781.80 345,162,356.10 Increase 110,720,078.51 152,348,425.70 110,720,078.51 152,348,425.70 Decrease 30,000,000.00 18,000,000.00 30,000,000.00 18,000,000.00 Ending balance 558,405,371.18 477,685,292.67 560,230,860.31 479,510,781.80 Unrealized gain (loss) for marketable securities Beginning balance - (7,258,642.00) - (7,258,642.00) Increase 19,715,165.23 (2,489,668.50) 19,715,165.23 (2,489,668.50) Decrease - 9,748,310.50 - 9,748,310.50 Ending balance 19,715,165.23 - 19,715,165.23 - Total shareholders' equity 917,445,536.41 817,010,292.67 919,271,025.54 818,835,781.80 Notes to the financial statements are part of all the financial statements. Thanulux Public Company Limited and Subsidiaries Cash Flow Statement For the year ended December 31, ------------- Consolidated The company only 1999 (Baht) 1998 (Baht) 1999 (Baht) 1998 (Baht) Cash flows from operating activities Net profit (loss) 110,720,078.51 152,348,425.70 110,720,078.51 152,348,425.70 Add (less) adjustments Profit of minor portion (85.39) 129.85 - - Depreciation and amortization 55,190,208.59 49,825,716.74 44,595,384.65 41,470,812.80 Dividend of associated companies - 1,867,557.50 - 1,867,557.50 Profit (loss) sharing from Subsidiary company and Related company 2,828,119.79 (1,755,588.63) 7,097,328.47 (8,248,160.73) Loss from investment 900,000.00 5,906,124.08 900,000.00 5,906,124.08 Loss from impairment of assets 17,743,162.85 - 17,726,600.35 - (Profit) Loss from disposal of fixed assets (88,029.04) (3,475,883.22) (89,477.78) (3,468,263.74) (Profit) Loss from disposal of securities 14,941,919.42 11,546,913.23 14,941,919.42 11,546,913.23 Trade accounts and notes receivable (increase) decrease (55,796,821.37) (4,382,839.29) (52,165,571.02) (9,182,802.55) Inventories (increase) decrease 22,581,860.70 (34,920,607.63) 24,315,497.92 (31,216,427.83) Current assets (increase) decrease (18,476,027.59) (1,474,757.29) (18,168,753.09) (3,844,666.08) Other liabilities increase (decrease) 543,286.12 (331,729.88) 481,771.12 (331,729.88) Trade accounts and notes payable increase (decrease) 10,820,392.90 32,983,401.59 (4,521,920.44) 37,613,861.05 Accrued income tax increase (decrease) 13,049,624.04 - 13,049,624.04 - Other current liabilities increase (decrease) 38,061,670.14 (4,119,069.77) 38,625,444.06 (1,937,032.59) Net cash provided by operating activities 213,019,359.67 204,017,792.98 197,507,926.21 192,524,610.96 Cash flows from investing activities Fixed deposit (increase) decrease (165,000,000.00) - (165,000,000.00) - Short-term loans (increase) decrease - Related parties 50,500,000.00 59,067,280.00 57,434,692.50 55,027,383.50 - Others - 543,600.00 - 543,600.00 Loans to employees (increase) decrease 7,250.00 (3,800.00) 7,250.00 (3,800.00) Acquisition of securities - (increase) decrease - Related parties (70,392,422.92) (23,261,478.54) (70,325,222.92) (23,261,478.54) - Others (20,112,972.50) (1,118,900.00) (20,096,410.00) (1,118,900.00) Acquisition of fixed assets (47,596,105.22) (59,346,333.26) (46,855,726.19) (34,908,910.68) Disposal of fixed assets 1,796,341.44 4,286,368.49 1,796,341.44 4,286,368.49 Disposal of securities - (increase) decrease - Related parties 39,109,789.24 12,894,538.78 39,109,789.24 12,894,538.78 - Others 16,562.50 1,630.80 16,562.50 1,630.80 Other assets (increase) decrease (5,384,410.66) (1,337,337.36) (4,894,216.17) (1,113,022.00) Net cash used in investing activities (217,055,968.12) (8,274,431.09) (208,806,939.60) 12,347,410.35 Thanulux Public Company Limited and Subsidiaries Cash Flow Statement For the year ended December 31, ------------- Consolidated The company only 1999 (Baht) 1998 (Baht) 1999 (Baht) 1998 (Baht) Cash flows from financing activities Bank overdrafts and loans from financial institutions increase (decrease) (199,956,498.94) (93,266,887.88) (199,703,498.94) (92,929,417.68) Short - term loans - Related parties increase (decrease) (21,488,519.66) (21,011,480.34) (12,488,519.66) (29,511,480.34) Long-term liabilities increase (decrease) (11,200,000.00) (1,400,000.00) (11,200,000.00) (1,400,000.00) Current portion of long - term liabilities increase (decrease) (1,400,000.00) (76,089,600.00) (1,400,000.00) (76,089,600.00) Debenture 300,000,000.00 - 300,000,000.00 - Dividend payments (30,000,000.00) (18,000,000.00) (30,000,000.00) (18,000,000.00) Net cash provided by financing activities 35,954,981.40 (209,767,968.22) 45,207,981.40 (217,930,498.02) Net increase (decrease) in cash 31,918,372.95 (14,024,606.33) 33,908,968.01 (13,058,476.71) Cash at beginning of year 21,630,096.45 35,654,702.78 16,768,425.01 29,826,901.72 Cash at end of year 53,548,469.40 21,630,096.45 50,677,393.02 16,768,425.01 Notes to the financial statements are part of all the financial statements. Supplemental disclosures of cash flow information : Cash payment during the year Interest payment 16,321,291.12 32,064,833.23 9,827,373.01 31,561,005.96 Income tax 1,863,115.95 2,071,949.96 1,863,174.96 2,071,155.37