NOTES TO FINANCIAL STATEMENTS
GMM Grammy Public Company Limited, its subsidiaries and its jointly controlled entities
NOTES TO FINANCIAL STATEMENTS Notes to financial statements FOR THE YEARS ENDED 31 DECEMBER 2009 AND 2008 For the years ended 31 December 2009 and 2008 1.
General information GMM Grammy Public Company Limited (“The Company”) is a public company incorporated and domiciled in Thailand. The Company is principally engaged in various entertainment businesses, including production and distribution of audio products and digital products, copyrights collection, artist managements and production of concerts. It has a registered address is 50 Sukhumvit 21 (Asoke), Klongtoey Nua, Wattana, Bangkok.
2.
Basis of preparation
2.1
The financial statements have been prepared in accordance with accounting standards enunciated under the Accounting Professions Act B.E. 2547 and their presentation has been made in compliance with the stipulations of the Notification of the Department of Business Development dated 30 January 2009, issued under the Accounting Act B.E. 2543. The financial statements in Thai language are the official statutory financial statements of the Company. The financial statements in English language have been translated from the Thai language financial statements. The financial statements have been prepared on a historical cost basis except where otherwise disclosed in the accounting policies.
2.2
Basis of consolidation a)
The consolidated financial statements include the financial statements of GMM Grammy Public Company Limited (“the Company”) and the following subsidiary companies (“the subsidiaries”) and jointly controlled entities (“jointly controlled entities” - accounted for proportionately to interests): Revenues as a
Company’s name
Nature of business
Percentage of
Country of
shareholding
incorporation
Assets as a
percentage to the
percentage to the
consolidated total
consolidated total
revenues for the
assets as at
year ended
31 December
31 December
2009
2008
2009
2008
2009
2008
Percent
Percent
Percent
Percent
Percent
Percent
100
100
Thailand
-
-
-
-
100
75.1
Thailand
2
2
2
2
Subsidiaries directly held by the Company 1. Aratist Management Company
Currently non-active
Limited 2. Clean Karaoke Company Limited Karaoke service provider 3. Extraorganizer Company Limited
Currently non-active
100
100
Thailand
-
-
-
-
4. Global Music and Media
Manage imported
100
100
Thailand
-
-
-
-
100
100
Cayman Islands
-
1
-
-
99.89
79.75
Thailand
48
48
48
46
100
100
Thailand
2
2
2
2
(Thailand) Company Limited
music
5. Global Music and Media Limited
Currently non-active
6. GMM Media Public Company
Production of radio
Limited 7. GMM Music Publishing International Company Limited
programmes Management of music copyrights
1 089