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To Content
144,367,444 14,284,338 16,229,409 17,600,075 22,836,132
(2,324,975) (1,481,000)
29,932,326
Less : Allowance for impairment
Net book value, net
(843,975)
(58,373,252) (16,381,854) (13,262,463) (17,496,383) (5,062,691) (6,169,861) -
29,491,872 35,096,458 27,898,823 50,499,000 31,413,326 Cost
As at 31 December 2008
151
Less : Accumulated depreciation
205,065,671 30,666,192
144,367,444 14,284,338 16,229,409 17,600,075 22,836,132 43,485,164 29,932,326 Closing net book value, net
21,125 14,096 64,088 Translation adjustment
-
(25,841,057) (6,033,407) (5,909,631) (6,362,853) (5,062,691) Depreciation
(2,472,475)
(234,246) (63,646) (170,600) Disposal, net
-
30,683,219 12,102,833 5,377,594 13,202,792 -
20,296,620 10,085,757 18,691,846 14,696,031 45,957,639 29,932,326 Opening net book amount, net
For the year ended 31 December 2008
Additions
139,660,219
139,660,219 20,296,620 10,085,757 18,691,846 14,696,031 45,957,639
(2,324,975) (843,975)
(73,800,292) (10,337,418) (44,208,629) (15,556,859) -
29,932,326
4. No matter of any situation arising to this project, the Project owner agreed to settle all outstanding to the Bank and the Company by June 2010.
Net book value, net
3. In the event that, the Project owner received the settlements from the customers which were engaged into sale agreements after the date of memorandum of understanding, the Company and the bank are entitled to receive the settlement based on the sale price (net off deposit and down payments) in the proportion of 25% and 75% respectively.
(1,481,000)
2. In the event that, the Project owner received the settlement from the customers which have been engaged into sale agreements before the date of memorandum of understanding, the Company is exclusively entitled before the bank to receive the settlement from the Project owner in the amount not exceeding Baht 69 million.
Less : Allowance for impairment
3523(57< 3/$17 $1' (48,30(17 1(7
Land
1. The Company will additionally invest in construction of the Project based on the original construction contract no. 001/ 2551 dated 14 February 2008 until the Project will be complete for sales with the expected additional funding of the construction by Baht 69 million.
(3,697,386)
Buiiding improvement
As at 31 December 2008, the Projectâ&#x20AC;&#x2122;s construction has been delayed since the Project owner has inadequate cash flows to continue the construction of the Project to be complete as the original schedule. Subsequently, the Company, the Project owner and the bank of the Project (â&#x20AC;&#x153;the Bankâ&#x20AC;?) have mutually agreed to formalise the additional memorandum of understanding dated 26 February 2009 to resume the construction until completion of the Project in accordance with the terms and conditions outlined in the memorandum of understanding as follows :
-
54,294,386
Building
Moreover, in accordance with the addendum to the Memorandum of understanding between the Company and the Project owner dated 19 January 2007, the operating profits of the Project can be distributed provided that all loans and accrued interest of the Project are fully settled with the related financial institutions. The Project owner is entitled to charge management fees, which are to be determined upon completion of the Project. The Project owner agreed to provide the benefits from the Project in the amount of not less than Baht 20 million to the Company upon completion of the Project.
Less : Accumulated depreciation
In accordance with the Memorandum dated 9 November 2006, the borrower (â&#x20AC;&#x153;the Project ownerâ&#x20AC;?) will utilize the funds in its real estate project development which was initially expected to be complete for sale by December 2008.
34,248,705
Guaranteed by a major shareholder of borrower.
14,696,031
Principals due within the respective promissory notesâ&#x20AC;&#x2122; date and interest was payable on 12-month basis.
50,499,000
30,000,000 8% per annum
Securities
31,413,326
30,000,000
Payment conditions
As at 31 December 2007
2 promissory notes due within 2 years
Interest Rate
(Unit : Baht)
Type of loan
Cost
The details of long-term loan to other company as at 31 December as follows:
30,634,038
Motor vehicles
/21* 7(50 /2$1 72 27+(5 &203$1< /21* 7(50 /2$1 72 27+(5 &203$1<
Balance (Baht) 2008 2007
215,785,486
Total
On 3 February 1997, the Company purchased 150,000 ordinary shares of Wave Development Company Limited at Baht 130 each (par value of Baht 100 each) totaling Baht 19.5 million, and made an initial payment of Baht 10 million. The rest is to be paid on demand.
99,309
Annual Report 2008 EMC PUBLIC COMPANY LIMITED
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43,485,164
Œ¾¼Â&#x160;ÂľÂ&#x153;Â&#x17E;ÂŚÂłÂ&#x2039;ÂśÂ&#x17E;¸ 2551
Tools, machinery Furniture, fixture and and equipment office equipment
150