174
2011 Annual Report
Connected Persons Type of Business Transaction Size
2011
(Million Baht)
Necessity and rationale
Hospitality Investment 0.34 International Limited recorded interest income received from Zanzibar Tourism and Hospitality Investment Limited in accordance to joint venture agreement.
The loan was provided in accordance with joint venture agreement where term was determined base on market rate. Audit Committee had an opinion that the transaction was fair and reasonable.
Relationship: MINT’s subsidiary – Hospitality 8.87 MINT indirectly holds Investment International Limited 50% shareholding provided long-term loan to Rocky Hill Limited in accordance with joint venture agreement. The loan agreement has definite interest rate, terms and conditions agreed by both parties. Hospitality Investment 0.11 International Limited recorded interest income received from Rocky Hill Limited in accordance to joint venture agreement.
The loan was provided in accordance with joint venture agreement where term was determined base on market rate. Audit Committee had an opinion that the transaction was fair and reasonable.
8. Rocky Hill Limited
The loan was provided in accordance with joint venture agreement where term was determined base on market rate. Audit Committee had an opinion that the transaction was fair and reasonable.
9. Sand River Eco Camp Limited
Relationship: MINT indirectly holds 50% shareholding
MINT’s subsidiary – Hospitality 51.37 Investment International Limited provided long-term loan to Sand River Eco Camp Limited in accordance with joint venture agreement. The loan agreement has definite interest rate, terms and conditions agreed by both parties.
The loan was provided in accordance with joint venture agreement where term was determined base on market rate. Audit Committee had an opinion that the transaction was fair and reasonable.