debt to equity was 1.18 at the end of 2004, up from 0.58 times in 2003. The reasons are as follows:- Liabilities: At the end of 2004, the Company had outstanding shortterm loan from bank of 665 million Baht and long-term loan of 572.50 million Baht (including current portion of long-term loan), an increase of 495 million Baht and 302.50 million Baht respectively. Short-term loan was used as a working capital for purchasing raw material, while long-term loan was to fund its investment in UFC. - Shareholders equity: At the end of 2004, shareholders’ equity was 1,259.93 million Baht (net of treasury stock of 127.61 million Baht). There were no changes to the number of treasury stock compared with 2003. However, the par value of the Company’s share was split from 10 Baht to 1 Baht as approved by the Board of Directors’ meeting on 26 February 2004. As a consequence, the number of treasury stock was adjusted to 82 million shares or 10% of total shares issued and paid-up at an average price of 1.56 Baht/share, amounting to 127.61 million Baht, the same as 2003.
LST_2004 LAM SOON (THAILAND) PCL Annual Report 2004