UPDATING ON MONEY LENDING TO PARENT COMPANY TRANSACTION
27 August 2002
TP-MT/113/45 (FC088/45)
August 23th, 2002.
Subject: Updating on money lending to parent company transaction
Attention: Managing Director, SET
Re : Minute of BOD's meeting no. 5/2002 dated August 9th, 2002.
Referring to the letter about Clarification on the resolution of BOD's meeting
and updating on money lending to parent company transaction, ref. TP-MT108/45
(FC085/45) dated August 13th, 2002, Thip would like to update about the approval of
short term Promissory Note issued by parent company after the 2nd quarter of 2002.
There are total 3 P/N, total amount ThB 25.0 million as follows :
P/N no.1 dated July 5, 2002 - Sept. 2, 2002 amount ThB 10.0 million at 10.0 %
per annum
P/N no.2 dated July 15, 2002 - Sept. 12, 2002 amount ThB 6.0 million at 10.0 %
per annum
P/N no.3 dated July 29, 2002 - Sept. 26, 2002 amount ThB 9.0 million at 10.0 %
per annum
Therefore, from the Board of Directors' point of view on the said transaction is
to maximize return on cash surplus for both company and shareholders; apart from
company's daily business. Most importantly, Thip always got principal repayment
together with full interest paid, without affecting monthly cash working capital.
Moreover, the said transaction had been considered and approved by the
shareholders' extra-ordinary meeting.
Please be informed accordingly.
Very truly yours,
(Mr.Phietoon Trivijitkasem) (Mr.Huang Kuan-Chiun)
Director Director
