AUDITOR’S REPORT AND FINANCIAL STATEMENTS On 26 December 2003, a meeting of the Company’s Board of Directors resolved to purchase Baht 50 million of the new ordinary shares of a local subsidiary, Primagold International Co., Ltd., (5 million ordinary shares of Baht 10 each). As a result, there is no change in the Company’s percentage shareholding in the subsidiary company, which registered the resulting increase in its share capital with the Ministry of Commerce on 6 January 2004.
(Unit : Baht)
Percentage of shareholding by the Company and subsidiary companies
Consolidated
The Company Only
Investments in associated companies
LG - Pranda Co., Ltd. P.T. Pranda SCL Indonesia
Total investments - at cost Less : Cumulative share of loss from investments Translation adjustment Total investments in associated companies
The share of profit (loss) from investment in an associated company incorporated overseas as included in the consolidated statements of earnings has been calculated from the financial statements prepared by that Company’s management but not audited by its auditor. However, the management believes that there would be no material difference if those financial statements had been to be audited by its auditor.
During 2003 and 2002, the Company received no dividend income from its investments in subsidiary and associated companies.
9 . OTHER LONG-TERM INVESTMENTS The other long-term investments are summarized below :-
(Unit : Baht) Consolidated
The Company Only
Held-to-maturity Government bonds Other long-term investments Total other long-term investments
80