01 September 2003
Roll-over loans to TVB 3 Network Co., Ltd. [TVB 3]
August 29, 2003
To: President
Stock Exchange of Thailand
Re: Roll-over loan 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 loan to TVB 3 of Baht 0.5 million which is due for
repayment on 31 August 2003, for another year at an interest rate of
2.25% 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: August 29, 2003
1. Type of transaction: Short term loan 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 Investment Co., Ltd. [TVB]
a company in Television Broadcasts Limited (Hong Kong)
Group. TVB is not a connected person.
3. Transaction Date: August 31, 2003
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 2.25% per annum, at a higher
rate than the banks' deposit rate on the
transaction date.