18 October 2002
ROLL-OVER LOANS TO TVB3 NETWORK CO.,LTD.
October 18, 2002
To: President
Stock Exchange of Thailand
Re: Roll-over loans to TVB 3 Network Co.,Ltd. [TVB 3]
As we reported the short-term loans granted by the company
to TVB 3 Network Co.,Ltd. [TVB 3] our subsidiary which the company's
holding is not exceeding 90% of the paid-up capital of the subsidiary
and the minority shareholder is not a connected person. Today we
have agreed to roll-over loans to TVB 3 of Baht 0.5 million which
is due for repayment on 18 October 2002, for another year at an
interest rate of 4.0% per annum. Details of the transaction are
as per the enclosed disclosure form.
Please be informed accordingly.
Sincerely Yours,
(Chatchai Thiamtong)
Vice President - Finance
Information of transactions between company and its subsidiaries
which the company's holding is not exceeding 90% of the paid-up
capital of the subsidiaries.
Report date: October 18, 2002
1. Type of transaction: Short term loans to subsidiary which the
company's holding is not exceeding 90%
of the paid-up capital of the subsidiary.
2. Parties: Between BEC World Plc. (lender) [BEC] and
TVB 3 Network Co.,Ltd.(borrower) [TVB 3]
Relation: BEC has effectively 60% interest in TVB 3,
through its 100% subsidiary BEC-International
Distribution Co.,Ltd. The other 40% is held
by TVB Oversea Co., Ltd. [TVB] a company in
Television Broadcasts Limited (Hong Kong)
Group. TVB is not a connected person.
3. Transaction Date: October 18, 2002
4. Amount of money: Baht 0.5 million
5. Characteristic of transaction: The transaction is the roll-over of the
existing loan for another year. The
interest rate is fixed at 4.0% per annum,
at a higher rate than the banks' deposit
rate on the transaction date.