Auditor fee (for each company) In 2010, 2011 and 2012, audit fees for the Company and subsidiaries comprises annual audit fee and audit fees for the 3 quarters, as per following details:- Gunkul G.K. G.K. Power K.N.P. Gunkul G-Power Wind Audit fee Engineering Assembly Product Supply Powergen Source 1) Source 2) 2010 2011 2012
800,000.00 350,000.00 300,000.00 210,000.00 120,000.00 15,000.00 - 1,795,000.00 850,000.00 350,000.00 300,000.00 230,000.00 250,000.00 230,000.00 - 2,210,000.00 850,000.00 350,000.00 300,000.00 230,000.00 280,000.00 230,000.00 160,000.00 2,380,000.00
Notes : 1) On 30 March 2012, the Company sold common shares of G-Power Source Co., Ltd., accounting for 60.00% of the registered capital, to the Electricity Generating Public Company Limited. 2) On 15 May 2012, the Company bought common shares of the Wind Energy Development Co., Ltd., accounting for 70.00% of the registered capital.
Persons or businesses related to auditors or audit office, which was SP Audit Co., Ltd., was not related person or business of the Company. Factors and influence that may affect operations or financial status in the future 1. Because the Company sells products to customers who are primarily government agencies, it may be subject to significant impacts on revenue and business performance in case the government sector changes policies of electricity investment, or in case the Company does not win biddings. Furthermore, the Company exports many products to the Union of Myanmar. There are possible serious impacts on the Companyâ€™s income and business performance in case the Company cannot deliver its products to the Union of Myanmar (see details in Clause 15.1 : Dependence on client risks). 2. The Company is at risk of exchange rate fluctuation because it derives income from export of products for distribution in foreign countries, and also imports raw materials from foreign countries. The Company is therefore exposed to risks of volatile exchange rates, which may cause 156
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GUNKUL_2012 GUNKUL ENGINEERING PCL Annual Report 2012