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ANNUAL REPORT 2004 OF LAM SOON (THAILAND) PLC. Topics

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1. General Information.………………………………………………….. 1-3 1.1 Company profile..………………………………………………… 1 1.2 Investment in other companies of more than 10% holdings……… 2 1.3 Other references…………………………………………………… 3 2. Message from the Chairman………………………………………… 4 3. Message from the Managing Director ………………………………….... 5-6 4. Report of the Audit Committee………………………………………... 7 5. Report on the Implementation of 15 Good Corporate Governance Principles…………………………………………………. 8-12 6. Financial Highlights…………………………………………………… 13-14 6.1 Financial figures..…………………………………………………. 13 6.2 Financial ratios.…………………………………………………… 13 6.3 Per share data……………………………………………………… 13 7. Nature of Business.……………………………………………………. 15-18 7.1 Income structure.………………………………………………….. 16 7.2 Changes of last year..……………………………………………… 17-18 8. Risk Factors....………………………………….……………………… 19-20 9. Palm Oil Industry and Competition.……………………………………… 21-25 10. Shareholders and Management………………………………………… 26-32 10.1 Shareholders..……………………………………………………… 26-27 10.2 Board of Directors and Management Committee.………………… 28-37 10.3 Dividend payout policy……….…………………………………… 37 11. Common Interested Persons and Connected Transactions…………….. 38 11.1 Connected transactions with common interested persons………… 38 11.2 Necessity and reasons for connected transactions………………… 38 11.3 Measurement or procedure to approve connected transactions..… 38 11.4 Connected transactions in the future……………………………… 38 12. Other Factors Affecting Investment Decisions………………………… 39 12.1 Legal conflicts..…………………………..………………………. 39 12.2 Obligations on future share issuance..…………………………… None 13. Information on Debentures or Promissory Notes....…………………… None 14. Management Discussion and Analysis…………..…………………….. 40-49 14.1 Financial performance analysis and explanation……………….… 40-48 14.2 Factors might affect financial performance in the future…………. 49 14.3 Remuneration of statutory auditor ..……………….……………… 49 15. Financial Statements…………………………………….…………….… Enc.

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LST_2004 LAM SOON (THAILAND) PCL Annual Report 2004

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