9. FINANCE LEASE OBLIGATIONS
Finance lease obligations Less Deferred interest Less Current portion Finance lease obligations - net
BAHT 2010 18,253,009.73 (1,822,717.24) 16,430,292.49 (3,747,801.94) 12,682,490.55
2009 1,617,970.93 (69,910.16) 1,548,060.77 (1,278,639.82) 269,420.95
As at December 31, 2010 and 2009, the Company has finance lease obligations with the period of payment as follows : Payment due within 1 year Payment due over 1 year to 5 years Total
BAHT 2010 Principal Deferred interest Total 3,747,801.94 757,659.86 4,505,461.80 12,682,490.55 1,065,057.38 13,747,547.93 16,430,292.49 1,822,717.24 18,253,009.73
Payment due within 1 year Payment due over 1 year to 5 years Total
BAHT 2009 Principal Deferred interest Total 1,278,639.82 59,641.38 1,338,281.20 269,420.95 10,268.78 279,689.73 1,548,060.77 69,910.16 1,617,970.93
Under the term of lease contracts referred to above, the Company shall have the right to purchase the assets at the quoted price at the expiry date of the leases contracts and the Company shall have to comply with certain conditions and restriction as specified in the lease contracts.
10. LONG - TERM LOAN FROM RELATED PERSON
Principal Less Current portion Net
68
BAHT 2009 23,500,000.00 (6,000,000.00) 17,500,000.00
Increase -
Decrease (23,500,000.00)
2010 - - -
On April 1, 2006, the Company had signed a loan agreement with a related person amounted to Baht 41.50 million, principal is repayable in monthly installments of Baht 0.50 million for 7 years commencing January 1, 2007 with interest at the rate of MOR plus 0.25% p.a. and interest is repayable in quarterly installments. In year 2010, the said loan was paid in full before the due date.