45
Annual Report 2012
8.2) The Company entered into a Consulting Support Agreement with an associate (Bumrungrad International Ltd.), which stipulates in the agreement, the Company will receive consulting income from the associate at a fixed rate per annum and additional fees for consulting services provided by employees of the Company to the associate at the rates per the agreement multiplied by actual hours worked. Subsequently, the parties amended the agreement to revise the fixed consulting fee to Baht 4.8 million per annum (previously it was Baht 10.0 million per annum), effective from 1 February 2011 to 31 December 2011, and to Baht 768,000 from 1 January 2012 onwards. The agreement will terminate in accordance with the conditions stipulated in the agreement. The balances of the accounts as at 31 December 2012 and 2011 between the Company and those related parties are as follows. (Unit: Thousand Baht) Consolidated financial statements Separate financial statements 2012 2011 2012 2011 Trade and other receivables - related parties (Note 7) Subsidiaries - - 10,553 8,775 Associates 1,598 90 1,586 79 Related entities (related by common director) 2,826 5,538 2,826 5,538 Total 4,424 5,628 14,965 14,392 Trade and other payables - related parties (Note 15) Associates 51 2,031 51 2,031 Short-term loan to and interest receivable from a related party Subsidiary - - - 665 Long-term debentures Related companies (Major shareholder and common director) 955,000 955,000 955,000 955,000 Convertible bonds treated as equity securities Related company (common director) 550,000 550,000 550,000 550,000 As at 31 December 2011, the short-term loan to Asia Global Research Ltd. carried interest at the rate of MLR less 1.00% per annum. During 2012, movements of loan to related party were as follows. (Unit: Thousand Baht) Balance as at Balance as at During the year 31 December 31 December 2012 2011 Increase Decrease Short-term loan to and interest receivable from a related party Subsidiary Asia Global Research Ltd. Principal 600 - (600) - Interest receivable 65 22 (87) - 665 22 (687) -