SET Announcements

UNAUDITED REVIEWED BEC WORLD PUBLIC COMPANY LIMITED AND SUBSIDIARIES STATEMENTS OF RETAINED EARNINGS FOR THE THREE-MONTH PERIODS ENDED JUNE 30, THOUSAND BAHT THE GROUP THE COMPANY ONLY 1999 1998 1999 1998 Unappropriated Retained Earnings : Balance brought forward 1,618,146 1,743,671 1,618,146 1,743,671 Net income for the period 284,146 344,901 284,146 344,901 Total Unappropriated Retained Earnings 1,902,292 2,088,572 1,902,292 2,088,572 Appropriated Retained Earnings : Legal reserve 200,000 200,000 200,000 200,000 Total Appropriated Retained Earnings 200,000 200,000 200,000 200,000 Total Retained Earnings 2,102,292 2,288,572 2,102,292 2,288,572 Notes to the interim financial statements form an integral part of these statements. UNAUDITED REVIEWED BEC WORLD PUBLIC COMPANY LIMITED AND SUBSIDIARIES STATEMENTS OF RETAINED EARNINGS FOR THE SIX-MONTH PERIODS ENDED JUNE 30, THOUSAND BAHT THE GROUP THE COMPANY ONLY 1999 1998 1999 1998 Unappropriated Retained Earnings : Balance brought forward 2,678,209 2,570,955 2,678,209 2,570,955 Less Appropriated previous net income : Dividends (Note 6) (1,300,000) (1,200,000) (1,300,000) (1,200,000) 1,378,209 1,370,955 1,378,209 1,370,955 Net income for the period 524,083 717,617 524,083 717,617 Total Unappropriated Retained Earnings 1,902,292 2,088,572 1,902,292 2,088,572 Appropriated Retained Earnings : Legal reserve 200,000 200,000 200,000 200,000 Total Appropriated Retained Earnings 200,000 200,000 200,000 200,000 Total Retained Earnings 2,102,292 2,288,572 2,102,292 2,288,572 Notes to the interim financial statements form an integral part of these statements. UNAUDITED REVIEWED BEC WORLD PUBLIC COMPANY LIMITED AND SUBSIDIARIES STATEMENTS OF CASH FLOWS FOR THE THREE-MONTH PERIODS ENDED JUNE 30, THOUSAND BAHT THE GROUP THE COMPANY ONLY 1999 1998 1999 1998 CASH FLOWS FROM OPERATING ACTIVITIES Net Income 284,146 344,901 284,146 344,901 ADJUSTMENTS TO RECONCILE NET INCOME TO NET CASH PROVIDED FROM (USED IN) OPERATING : Depreciation 14,756 16,317 1,741 1,994 Amortization of right to use property 33,019 33,149 - - Amortization of pictures rental, plays, picture products and copyright charges 154,506 120,355 61,564 53,739 Amortization of goodwill 3,189 3,190 - - Amortization of expenses 2,504 904 - - Bad debts - 191 - - Allowance for doubtful debts 2,265 10,115 1,616 1,707 Loss on assets disposal 1 18 10 - Loss on unused assets - 150 - - (Gain) loss on exchange rate (1,671) 9,322 (913) 6,822 Allowance for diminution in value of inventories 450 - - - Company's portion in net income of subsidiaries - - (193,333) (221,125) Company's portion in net loss of associate 5,047 11,821 5,047 11,821 Decrease in minority interest (1,853) (2,298) - - (INCREASE) DECREASE IN OPERATING ASSETS Trade accounts and notes receivable 4,616 5,512 (4,826) (12,003) Inventories 17 553 - - Interest receivable 21,592 31,876 101,522 96,103 Other current assets (67,655) 12,429 (4,412) 2,009 Deposit on pictures copyright charges (11,636) - (12,075) - Other assets 5,043 (6,580) 10,011 (4,560) Notes to the interim financial statements form an integral part of these statements. UNAUDITED REVIEWED BEC WORLD PUBLIC COMPANY LIMITED AND SUBSIDIARIES STATEMENTS OF CASH FLOWS (CONTINUED) FOR THE THREE-MONTH PERIODS ENDED JUNE 30, THOUSAND BAHT THE GROUP THE COMPANY ONLY 1999 1998 1999 1998 INCREASE (DECREASE) IN OPERATING LIABILITIES Accounts payable (9,797) 89,341 166 78,848 Income tax payable (164,685) (182,110) (73,857) (46,402) Other current liabilities (16,403) (22,314) (4,022) 8,971 ADJUSTMENT FROM THE TRANSLATION OF SUBSIDIARY'S FINANCIAL STATEMENTS (32) - - NET CASH PROVIDED FROM OPERATING ACTIVITIES 257,419 476,842 172,385 322,825 CASH FLOWS FROM INVESTING ACTIVITIES (Increase) decrease in deposits with financial institutions (28,711) 219,389 170,154 58,664 Decrease in fixed deposit with banks 734,487 825,843 680,766 793,965 Increase in investments in subsidiaries - (2,131) - (8,116) Purchase of equipments (29,898) (6,076) (1,504) (1,310) Proceeds from equipment disposal 29 13 16 - Proceeds from dividends - 3,240 - 203,240 Increase in pictures rental, picture products, plays and copyright charges (193,104) (294,775) (122,898) (138,965) Increase in short-term loans to related parties (7,003) (7,025) (63,988) (26,643) Increase in right to use property (272) (4,344) - - NET CASH PROVIDED FROM INVESTING ACTIVITIES 475,528 734,134 662,546 880,835 CASH FLOWS FROM FINANCING ACTIVITIES Increase in bank overdrafts and loans from financial institutions 284 322 - - Decrease in advance from directors (326) - - - Repayment of long-term lease payable (65) (56) - - Dividends payment (1,300,000) (1,200,000) (1,300,000) (1,200,000) NET CASH USED IN FINANCING ACTIVITIES (1,300,107) (1,199,734) (1,300,000) (1,200,000) Notes to the interim financial statements form an integral part of these statements. UNAUDITED REVIEWED BEC WORLD PUBLIC COMPANY LIMITED AND SUBSIDIARIES STATEMENTS OF CASH FLOWS (CONTINUED) FOR THE THREE-MONTH PERIODS ENDED JUNE 30, THOUSAND BAHT THE GROUP THE COMPANY ONLY 1999 1998 1999 1998 NET INCREASE (DECREASE) IN CASH ON HAND AND AT BANKS (567,160) 11,242 (465,069) 3,660 CASH ON HAND AND AT BANKS AS AT APRIL 1 787,747 92,870 487,636 9,078 CASH ON HAND AND AT BANKS AS AT JUNE 30 220,587 104,112 22,567 12,738 ADDITIONAL DISCLOSURE ITEMS TO CASH FLOWS STATEMENTS : CASH ON HAND AND AT BANKS PAID DURING THE PERIODS FOR : Interest expenses 36 17 - - Income tax 304,179 356,493 115,977 105,717 Purchase of investments in subsidiaries (BEC-TERO Entertainment Company Limited) Cash on hand - 5,985 - - Share subscription receivable - 4,000 - - - 9,985 - - Goodwill - 2,125 - - Minority interest - (3,994) - - Investment in purchasing subsidiary - 8,116 - - Cash on hand of subsidiary as at April 1, 1998 - (5,985) - - Cash paid in purchasing - 8,116 - - NON - CASH FLOWS ITEM COMPRISE Dividends receivable - - 199,999 199,999 Notes to the interim financial statements form an integral part of these statements. UNAUDITED REVIEWED BEC WORLD PUBLIC COMPANY LIMITED AND SUBSIDIARIES STATEMENTS OF CASH FLOWS FOR THE SIX-MONTH PERIODS ENDED JUNE 30, THOUSAND BAHT THE GROUP THE COMPANY ONLY 1999 1998 1999 1998 CASH FLOWS FROM OPERATING ACTIVITIES Net Income 524,083 717,617 524,083 717,617 ADJUSTMENTS TO RECONCILE NET INCOME TO NET CASH PROVIDED FROM (USED IN) OPERATING : Depreciation 30,436 32,368 3,581 4,075 Amortization of right to use property 65,886 64,912 - - Amortization of pictures rental, plays, picture products and copyright charges 321,124 232,678 114,422 102,193 Amortization of goodwill 6,378 6,273 - - Amortization of expenses 4,972 1,799 - - Bad debts - 194 - - (Decrease) increase in allowance for doubtful debts (2,039) 4,769 369 485 (Gain) loss on assets disposal 1,375 11 10 (5) Loss on unused assets - 180 - - Loss on permanent diminishing value of securities - 1,001 - - (Gain) loss on exchange rate 26 (4,888) (228) (4,104) Allowance for diminution in value of inventories 450 - - - Company's portion in net income of subsidiaries - - (339,902) (445,489) Company's portion in net loss of associate 10,304 15,912 10,304 15,912 Decrease in minority interest (5,734) (3,672) - - (INCREASE) DECREASE IN OPERATING ASSETS Trade accounts and notes receivable 1,118 39,900 (5,483) (9,591) Inventories (101) 460 - - Interest receivable 31,659 25,801 77,619 69,840 Other current assets (78,609) (11,050) 1,004 (1,663) Deposit on pictures copyright charges (9,631) - (17,764) - Other assets (3,181) (12,472) (2,291) (4,557) Notes to the interim financial statements form an integral part of these statements. UNAUDITED REVIEWED BEC WORLD PUBLIC COMPANY LIMITED AND SUBSIDIARIES STATEMENTS OF CASH FLOWS (CONTINUED) FOR THE SIX-MONTH PERIODS ENDED JUNE 30, THOUSAND BAHT THE GROUP THE COMPANY ONLY 1999 1998 1999 1998 INCREASE (DECREASE) IN OPERATING LIABILITIES Accounts payable (20,597) 56,701 (40,872) 69,792 Income tax payable (350,167) (31,371) (151,467) 14,401 Other current liabilities (57,534) (59,048) 367 1,473 ADJUSTMENT FROM THE TRANSLATION OF SUBSIDIARY'S FINANCIAL STATEMENTS 11 - - - NET CASH PROVIDED FROM OPERATING ACTIVITIES 470,229 1,078,075 173,752 530,379 CASH FLOWS FROM INVESTING ACTIVITIES (Increase) decrease in deposits with financial institutions (76,944) (135,094) 132,335 (90,146) Decrease in fixed deposit with banks 1,448,681 763,136 1,266,242 824,798 Increase in investments in subsidiaries - (2,131) - (8,116) Purchase of equipments (48,439) (10,383) (1,864) (1,704) Proceeds from equipment disposal 3,665 28 16 5 Proceeds from copyright disposal - 185 - - Proceeds from dividends - 3,240 - 203,240 Increase in pictures rental, picture products, plays and copyright charges (404,622) (425,193) (167,404) (219,808) Increase in short-term loans to related parties (7,003) (7,025) (90,857) (40,950) Increase in right to use property (1,233) (42,086) - - NET CASH PROVIDED FROM INVESTING ACTIVITIES 914,105 144,677 1,138,468 667,319 CASH FLOWS FROM FINANCING ACTIVITIES Increase (decrease) in bank overdrafts and loans from financial institutions 941 (442) - - Increase in advance from directors 1,179 - - - Repayment of long-term lease payable (120) (112) - - Dividends payment (1,300,000) (1,200,000) (1,300,000) (1,200,000) NET CASH USED IN FINANCING ACTIVITIES (1,298,000) (1,200,554) (1,300,000) (1,200,000) Notes to the interim financial statements form an integral part of these statements. 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