12 May 2003
GIVE NEW SHORT TERM LOAN TO TVB 3 NETWORK CO.,LTD.
Date : 12/05/2003 08:14
BEC : GIVE NEW SHORT TERM LOAN TO TVB 3 NETWORK CO.,LTD.
May 9, 2003
To: President
Stock Exchange of Thailand
Re: Give new short term loan to TVB 3 Network Co.,Ltd.
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 give a new loan of Baht 0.7 million which will be
due for repayment within a year from May 13, 2003 at an interest
rate of 3.0% 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 subsidiary which
the company's holding is not exceeding 90% of the paid-up capital of
the subsidiary.
Report date: May 9, 2003
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]
Relationship: BEC has effectively 60% interest in TVB 3, through its
100% subsidiary BEC International Distribution Co.,Ltd.
The other 40% is held by TVB Investment Co., Ltd. [TVB]
a company in Television Broadcasts Limited (Hong Kong)
Group. TVB is not a connected person.
3.Transaction Date: May 13, 2003
4.Amount of money: Baht 0.7 million
5.Characteristic of transaction: The transaction is a new loan for a year.
The interest rate is fixed at 3.0% per annum,
at a higher rate than the banks' deposit rate
on the transaction date.