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Patkol Public Company Limited Subsidiariesû name Shareholding by subsidiary companies Siam Patkol Co., Ltd. (60% of share capital held by Patkol (1984) Co., Ltd.) Kaset Phet Co., Ltd. (98.80% of share capital held by Siam Patkol Co., Ltd.)

Percentage of shareholding 2007 2006 39.99

39.99

0.00

0.00

Type of business

Manufacture and sale the cooling system equipment Consultant and brokerage

The consolidated financial statements have been prepared in conformity with the same accounting policy for the accounts and accounting events of the Company and subsidiaries. The balance of accounts and transaction between the Company and its subsidiaries, inter - company unrealized gain between the Company and net assets of subsidiaries have been eliminated from the consolidated financial statements.

4.

NEW ACCOUNTING STANDARDS ISSUANCE

In accordance with the notification No. 9/2550, No.38/2550 and No.62/2550 issued by the Federation of Accounting Professions, pertaining to the Accounting Standards announced in the Government Gazette, intention to follow the revised 2007 Accounting Standards in stead of the old Accounting Standards which were cancelled as following : 4.1 The revised Accounting Standards became effective in the current year No. 44 çConsolidated Financial Statements and Separate Financial Statementsé No. 45 çInvestments in Associatesé No. 46 çInterests in Joint Ventureé Those three Accounting Standards are required to adopt for the financial statements beginning on or after January 1, 2007 onwards. And on January 1, 2007 the Company had changed the accounting policy for investment in subsidiaries and associates in the separate financial statements in order to conform to the revised Accounting Standards No. 44 and No. 45 as stated in notes to financial statements no.23. 4.2 The revised Accounting Standards are not operative yet in the current year No. 25 çCash Flows Statementsé No. 29 çLeasesé No. 31 çInventoriesé No. 33 çBorrowing Costsé No. 35 çPresentation of Financial Statementsé No. 39 çAccounting Policies, Changes in Accounting Estimates and Fundamental Errorsé No. 41 çInterim Financial Reportingé No. 43 çBusiness Combinationsé No. 49 çConstruction Contractsé No. 51 çIntangible assetsé Those ten Accounting Standards are required to adopt for the financial statements beginning on or after January 1, 2008 onwards. The Companyûs management deems that the adoption of those Accounting Standards are not materially affected to the financial statements in the current year. Annual Report 2007

65

As of 31 December 2007

Patkl 07  

PATKL_2007 PATKOL PCL Annual Report 2007

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