Taiwan
Thailand
ˇ@
BALANCE SHEETS
As at 31 December 2009 and 2008
UnitˇGBaht
ˇ@
Consolidated financial statements
Separate financial statements
Assets
2009

2008

2009

2008
Cash and cash equivalents

208,914,966
1,916,612,980

171,164,600

 1,771,670,318
Long-term deposits at financial institutions

131,067,536

28,814,053

2,000

-
Investments in debt and equity securities
 
 
 
 
   Short - term investments, net

4,666,706,408

1,985,099,216

4,666,706,408

1,985,099,216
   Long - term investments, net

758,870,213

783,314,628

20,749,963

12,969,963
      Net investments in debt and equity securities

5,425,576,621

2,768,413,844

4,687,456,371

1,998,069,179
Investments in subsidiaries
-
-

2,623,233,160

2,622,744,581
Receivables from Clearing House

362,811,134

61,129,405

362,811,134

61,129,405
Securities and derivatives business receivables - net
1,536,251,941
1,433,586,582
1,536,251,941
1,433,586,582
Other derivatives assets
8,560
9,600
8,560
9,600
Land, premises and equipment - net
178,300,335
224,515,553
171,705,781
216,583,483
Intangible assets - net
27,125,023
25,709,146
23,090,613
19,957,795
Goodwill
26,713,599
26,713,599
-
-
Property foreclosed - net
63,799,155
65,039,155
63,799,155
65,039,155
Other assets
95,773,443
105,291,270
69,689,825
76,514,065
Total assets
8,059,342,343
6,654,595,187
9,712,203,140
8,264,064,163
The accompanying notes are an integral part of the financial statements.
ˇ@

BALANCE SHEETS (Continued)
As at 31 December 2009 and 2008

UnitˇGBaht
ˇ@
Consolidated financial statements
Separate financial statements
Liabilities and shareholders' equity
2009
2008
2009
2008
Borrowings
340,000,000
 - 340,000,000 -
Securities sold under repurchased agreements
1,590,005,046
1,129,192,099
1,590,005,046
1,129,192,099
Payables to Clearing House
245,919,197
11,752,455
245,919,197
11,752,455
Securities and derivatives business payables
1,024,017,718
776,305,395
1,024,017,718
776,305,395
Subordinated loans from a subsidiary company
-
-
1,700,000,000
1,700,000,000
Accrued expenses
161,269,084
126,152,703
139,372,708
99,367,693
Corporate income tax payable
44,009,880
14,727,039
36,964,677
7,992,888
Other derivatives liabilities
82,101,156
16,906,588
82,101,156
16,906,588
Estimated liabilities
18,002,250
18,002,250
18,002,250
18,002,250
Other liabilities
37,665,818
105,295,766
36,614,160
102,924,202
Total liabilities
3,542,990,149
2,198,334,295
5,212,996,912
3,862,443,570
Shareholders' equity
 
 
 
 
Share capital
 
 
 
 
  Registered
 
 
 
 
     1,991,763,130 ordinary shares of Baht 1.00 each
1,991,763,130
1,991,763,130
1,991,763,130
1,991,763,130
  Issued and fully paid-up ˇ@ ˇ@ ˇ@ ˇ@
     1,991,763,130 ordinary shares of Baht 1.00 each 1,991,763,130 1,991,763,130 1,991,763,130 1,991,763,130
Share premium
982,166,480
982,166,480
982,166,480
982,166,480
Surplus from unexercised warrants
101,922,580
101,922,580
101,922,580
101,922,580
Translation adjustment
22,345,104
54,840,837
-
-
Retained earnings
 
 
 
 
  Appropriated - statutory reserve
120,800,000
108,300,000
120,800,000
108,300,000
  Unappropriated
1,292,019,052
1,211,500,672
1,302,554,038
1,217,468,403
Equity attributable to company's shareholders
4,511,016,346
4,450,493,699
4,499,206,228
4,401,620,593
Minority interest - Equity attributable to minority
 
 
 
 
      shareholders of subsidiary
5,335,848
5,767,193
-
-
Total shareholders' equity
4,516,352,194
4,456,260,892
4,499,206,228
4,401,620,593
Total liabilities and shareholders' equity
8,059,342,343
6,654,595,187
9,712,203,140
8,264,064,163
The accompanying notes are an integral part of the financial statements.
ˇ@

INCOME STATEMENTS
For the years ended 31 December 2009 and 2008

UnitˇGBaht
ˇ@
Consolidated financial statements
Separate financial statements
Income
2009

2008

2009

2008
Brokerage fee
 
 
 
 
    Brokerage fee from securities business
570,991,459
478,581,158
570,991,459
478,581,158
    Brokerage fee from derivatives business
80,227,889
82,377,524
80,227,889
82,377,524
Fee and service income
200,707,183
233,150,796
20,180,538
24,664,691
Gain (loss) on trading in securities
-331,147,935

195,858,757
-331,147,935

195,858,757
Gain on trading derivatives
627,624,040
155,614,638
627,624,040
155,614,638
Interest and dividends
104,752,477
135,010,520
133,046,261
197,605,375
Interest on margin loans
28,089,902
77,237,906
28,089,902
77,237,906
Other income
9,008,117
5,640,695
9,016,649
4,667,803
Total income
1,290,253,132
1,363,471,994
1,138,028,803
1,216,607,852
Expenses
 
 
 
 
Expenses on borrowings
32,934,645
77,749,622
32,934,645
77,749,622
Fee and service expenses
122,177,736
96,653,930
102,530,222
73,631,528
Bad debt and doubtful accounts (reversal)
(981,495)
150,501,885
(981,495)
150,501,885
Operating expenses
 
 
 
 
   Personnel expenses
414,273,807
395,042,132
357,854,432
335,426,150
   Premises and equipment expenses
160,336,609
138,628,961
143,248,837
121,468,514
   Taxes and duties
2,371,418
5,177,324
2,263,539
4,967,597
   Directors' and management's remuneration
113,271,457
112,356,483
92,052,205
89,274,093
   Other expenses
117,175,795
133,788,435
90,855,720
107,752,710
Total operating expenses
807,429,086
784,993,335
686,274,733
658,889,064
Total expenses
961,559,972
1,109,898,772
820,758,105
960,772,099
Income before corporate income tax
328,693,160
253,573,222
317,270,698
255,835,753
Corporate income tax
-85,268,153
-64,939,982
-70,360,384
-45,888,177
Net income for the year
243,425,007
188,633,240
246,910,314
209,947,576
ˇ@ ˇ@ ˇ@ ˇ@ ˇ@
Net income attributable to ˇ@ ˇ@ ˇ@ ˇ@
Equity holders of the parent
242,343,059
187,118,450
246,910,314
209,947,576
Minority interests of the subsidiaries
1,081,948
1,514,790
 ˇ@ ˇ@
ˇ@

243,425,007

188,633,240

 ˇ@ ˇ@
ˇ@ ˇ@ ˇ@ ˇ@ ˇ@
Basic earnings per share ˇ@ ˇ@ ˇ@ ˇ@
Net income attributable to equity holders of the parent
0.12
0.09
0.12
0.11
The accompanying notes are an integral part of the financial statements.
ˇ@

CASH FLOWS STATEMENTS
For the years ended 31 December 2009 and 2008

UnitˇGBaht
ˇ@
Consolidated financial statements
Separate financial statements
 
2009
2008
2009
2008
Cash flows from operating activities
 
 
 
 
Net income before corporate income tax
328,693,160
253,573,222
317,270,698
255,835,753
Adjustments to reconcile net income before corporate income tax
 
 
 
 
   to net cash provided by (paid from) operating activities :
 
 
 
 
   Bad debt and doubtful accounts
7,593,386
157,011,875
7,593,386
157,011,875
   Depreciation and amortisation
64,272,309
37,438,094
59,105,263
32,132,413
   Unrealised gain on revaluation of investments
(18,391,581)
(207,516,633)
(18,391,581)
(207,516,633)
   Discount on investment in debt securities of a subsidiary company
(24,393)
(24,393)
-
-
   Loss on written-off of premises and equipments 439,440 2,910,605 439,440 2,910,605
   Gain on sales of equipment
(1,753,557)
(4,798,398)
(1,760,490)
(3,825,507)
   Interest income from deposits and investments (76,716,658) (85,934,679) (73,496,084) (79,557,833)
   Dividend income
(11,805,968)
(21,139,025)
(43,321,254)
(90,134,230)
   Interest expenses
33,170,401
78,067,789
32,934,644
77,749,622
Income from operating activities before changes in operating assets and liabilities
325,476,539
209,588,457
280,374,022
144,606,065
ˇ@ ˇ@ ˇ@ ˇ@ ˇ@
Decrease (increase) in operating assets
 
 
 
 
  Long - term deposits at financial institutions
(102,253,483)
229,578,161
(2,000)
146,898,161
  Short-term investments
(2,677,430,959)
 1,183,265,690
(2,677,430,959)
1,183,265,690
  Receivable from Clearing House
(307,267,829)
177,733,936
(307,267,829)
177,733,936
  Securities and derivatives business receivable
(113,258,745)
707,263,033
(113,258,475)
707,263,033
  Other derivatives assets
(2,800)
(7,200)
(2,800)
(7,200)
  Property foreclosed
-

1,240,000

 -
1,240,000
     Other assets
4,191,479
(13,964,486)
1,570,783
(15,409,574)
Increase (decrease) in operating liabilities
 
 
 
 
  Securities sold under repurchased agreement
460,812,947
(600,040,987)
460,812,947
(600,040,987)
  Payables to Clearing House
234,166,742
(493,563,602)
234,166,742
(493,563,602)
  Securities and derivatives business payable
245,041,933
(245,909,938)
245,041,933
(245,909,938)
  Accrued expenses
35,554,316
(36,167,245)
40,442,950
(42,828,091)
  Other derivatives liabilities
87,670,246
12,944,218
87,670,246
12,944,218
  Other liabilities
(1,371,433)
(5,369,222)
195,400
9,730,405
Cash flows from (used in) operating activities (1,808,671,047) 1,126,590,815 (1,747,687,310) 985,922,116
Cash received from interest on deposits and investment 82,072,995 91,076,105 78,779,528 84,696,359
Cash paid for interest expenses (33,608,337) (78,381,563) (33,372,580) (78,063,396)
Cash paid for corporate income tax (55,985,312) (143,227,983) (41,388,595) (121,432,489)
Net cash flows from (used in) operating activities
(1,816,191,701)
996,057,374
(1,743,668,957)
871,122,590
The accompanying notes are an integral part of the financial statements.

CASH FLOWS STATEMENTS  (Continued)
For the years ended 31 December 2009 and 2008
UnitˇGBaht
ˇ@
Consolidated financial statements
Separate financial statements
 
2009
2008
2009
2008
Cash flows from investing activities
 
 
 
 
Cash paid for purchase of investment in a subsidiary company
(478,580)
(835,598)
(478,580)
(835,598)
Cash paid for purchase of long-term investments (7,780,000) - (7,780,000) -
Dividend received on investment 11,775,980 21,139,025 11,775,980 21,139,025
Dividend received from a subsidiary company  
-
-
31,515,286
68,995,205
Cash paid for purchase of equipment and computer software (86,514,033) (112,450,999)
(84,383,736)
(108,352,294)
Proceed from sales of premises and equipment 1,849,743 6,833,802 1,838,968 5,860,905
Net cash flows used in investing activities (81,146,890) (85,313,770) (47,512,082) (13,192,757)
ˇ@ ˇ@ ˇ@ ˇ@ ˇ@
Cash flows from financing activities
 
 
 
 
Cash received from borrowing

340,000,000
-
340,000,000
-
Repayment of borrowings

-

(606,954)

-

(606,954)
Dividend paid
(149,324,679)
(238,891,332)
(149,324,679)
(238,891,332)
Dividend paid to minority interest 
(1,034,714)
(2,404,795)
 - -
Net cash flows (used in) financing activities

189,640,607
(241,903,081)
190,675,321
(239,498,286)
Net increase (decrease) in cash and cash equivalents
(1,707,697,984)
668,840,523
(1,600,505,718)
618,431,547
Cash and cash equivalents as at beginning of year
1,916,612,980
1,247,772,457
1,771,670,318
1,153,238,771
Cash and cash equivalents at end of year
208,914,996
1,916,612,980
171,164,600
1,771,670,318

The accompanying notes are an integral part of the financial statements.

ˇ@

ˇ@