02 March 2000
SUBNISSION OF FINANCIAL STATEMENTS FOR THE YEAR 1999
February 28, 2000
To The President
Stock Exchange of Thailand
Re Submission of financial statements for the year 1999.
Enclosures Financial statements for the year 1999.
We are sending you herewith the enclosed financial statement
of the Company and the consolidated financial statement of the Company
and its subsidiary companies for the year ended 31st December,1999,which
have been approved by our Board of Director.
The consolidated operating result of the Company and its
subsidiary companies for the year 1999 is a net profit of Baht 1,105 million.
It is lower than that of the previous year by 15 percent. This is because
of the big drop, from the previous year, of our "interest income",caused
by the much lower down of the interest rates in the market. Even the
operating profit of the year 1999 is higher than that of the previous
year, as our sale revenue especially our advertising air-time sale have
started improving, but not enough to cover the shortfall of interest
income yet.Furthermore,the Company also had to recognize as an additional
loss of over 30 million Baht, from the write-off of outstanding amount
of goodwill on our investment in "CVD" in order to comply with the new
Accounting Stand(#36).
Please be informed accordingly.
Sincerely Yours,
(Chatchai Thiamtong)
Vice President - Finance