|
|
ˇ@ |
BALANCE
SHEETS
December 31, 2007 and 2006
|
UnitˇGBaht
|
| |
Consolidated financial statements
|
Separate financial statements
|
|
ASSETS |
2007
|
2006
|
2007
|
2006
|
|
CASH AND CASH EQUIVALENTS |
1,265,772,457
|
427,197,850
|
1,153,238,771
|
344,843,552
|
|
LONG - TERM DEPOSITS AT FINANCIAL INSTITUTIONS |
240,392,214
|
118,374,053
|
146,898,161
|
-
|
|
INVESTMENTS IN DEBT AND EQUITY SECURITIES |
|
|
|
|
|
Short - term investments, net |
3,164,592,300
|
2,581,523,512
|
3,164,592,300
|
2,581,523,512
|
|
Long - term investments, net |
766,054,592
|
815,102,903
|
19,822,642
|
21,272,558
|
|
Net investments in debt and equity securities |
3,930,646,892
|
3,396,626,415
|
3,184,414,942
|
2,602,796,070
|
|
INVESTMENTS IN SUBSIDIARIES |
-
|
-
|
2,621,908,983
|
2,621,409,514
|
|
RECEIVABLES FROM CLEARING HOUSE
|
236,770,241
|
138,153,690
|
236,770,241
|
138,153,690
|
|
SECURITIES AND DERIVATIVES BUSINESS
|
|
|
|
|
|
RECEIVABLES - net |
2,297,861,490
|
1,931,347,700
|
2,297,861,490
|
1,931,347,700
|
|
OTHER DERIVATIVES ASSETS |
14,940
|
6,634,546
|
14,940
|
6,634,546
|
|
PREMISES AND EQUIPMENT - net |
86,806,859
|
105,220,028
|
79,240,284
|
95,587,791
|
|
INTANGIBLE ASSETS - net |
57,740,955
|
45,141,322
|
23,703,527
|
9,376,654
|
|
PROPERTY FORECLOSED - net |
65,039,155
|
65,039,155
|
65,039,155
|
65,039,155
|
|
OTHER ASSETS |
96,468,210
|
109,309,928
|
66,243,018
|
80,113,951
|
|
TOTAL ASSETS |
8,277,513,413
|
6,343,044,687
|
9,875,333,512
|
7,895,302,623
|
BALANCE SHEETS (Continued)
December 31, 2007 and 2006
|
UnitˇGBaht
|
| |
Consolidated financial statements
|
Separate financial statements
|
|
LIABILITIES AND SHAREHOLDERS' EQUITY |
2007
|
2006
|
2007
|
2006
|
|
BORROWINGS |
606,954
|
14,960,472
|
606,954
|
14,960,472
|
|
SECURITIES SOLD UNDER REPURCHASED AGREEMENT |
1,729,233,086
|
728,068,198
|
1,729,233,086
|
728,068,198
|
|
PAYABLES TO CLEARING HOUSE |
505,316,057
|
129,789,146
|
505,316,057
|
129,789,146
|
|
SECURITIES AND DERIVATIVES BUSINESS PAYABLES |
1,198,751,502
|
963,002,290
|
1,198,751,502
|
963,002,290
|
|
SUBORDINATED LOANS FROM SUBSIDIARY COMPANY |
-
|
-
|
1,700,000,000
|
1,719,613,500
|
|
ACCRUED EXPENSES |
162,633,722
|
94,465,734
|
142,509,558
|
72,809,621
|
|
CORPORATE INCOME TAX PAYABLE |
93,015,041
|
8,595,628
|
83,537,200
|
-
|
|
OTHER DERIVATIVES LIABILITIES |
35,942,348
|
2,970,929
|
35,942,348
|
2,970,929
|
|
OTHER LIABILITIES |
59,550,759
|
52,607,639
|
48,872,458
|
38,693,482
|
|
TOTAL LIABILITIES |
3,785,049,469
|
1,994,460,036
|
5,444,769,163
|
3,669,907,638
|
|
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 |
|
|
|
|
|
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 |
37,545,403
|
87,589,164
|
-
|
-
|
|
Retained earnings |
|
|
|
|
|
Appropriated - statutory reserve |
97,800,000
|
80,300,000
|
97,800,000
|
80,300,000
|
|
Unappropriated |
1,273,773,554
|
1,096,921,797
|
1,256,912,159
|
1,069,242,795
|
|
EQUITY ATTRIBUTABLE TO COMPANY'S SHAREHOLDERS |
4,484,971,147
|
4,340,663,151
|
4,430,564,349
|
4,225,394,985
|
|
MINORITY INTEREST - Equity attributable to minority |
|
|
|
|
|
shareholders of subsidiary |
7,492,797
|
7,921,500
|
-
|
-
|
|
TOTAL SHAREHOLDERS' EQUITY |
4,492,463,944
|
4,348,584,651
|
4,430,564,349
|
4,225,394,985
|
|
TOTAL LIABILITIES AND SHAREHOLDERS' EQUITY |
8,277,513,413
|
6,343,044,687
|
9,875,333,512
|
7,895,302,623
|
INCOME STATEMENTS
December 31, 2007 and 2006
|
UnitˇGBaht
|
| |
Consolidated financial statements
|
Separate financial statements
|
|
INCOME |
2007
|
2006
|
2007
|
2006
|
|
Brokerage fee |
|
|
|
|
|
Brokerage fee from securities business |
577,531,446
|
654,902,541
|
577,531,446
|
654,902,541
|
|
Brokerage fee from derivatives business |
56,274,967
|
10,950,300
|
56,274,967
|
10,950,300
|
|
Fee and service income |
216,575,087
|
222,466,654
|
23,468,604
|
17,451,716
|
|
Gain (loss) on trading in securities |
528,312,358
|
-77,652,551
|
528,312,358
|
-77,652,551
|
|
Gain (loss) on trading derivatives |
-80,497,977
|
35,887,174
|
-80,497,977
|
35,887,174
|
|
Interest and dividends |
155,615,461
|
140,324,971
|
190,287,890
|
486,951,730
|
|
Interest on margin loans |
62,021,128
|
72,839,952
|
62,021,128
|
72,839,952
|
|
Other income |
6,779,681
|
37,181,240
|
6,304,936
|
35,108,027
|
|
TOTAL INCOME |
1,522,612,151
|
1,096,900,281
|
1,363,703,352
|
1,236,438,889
|
|
EXPENSES |
|
|
|
|
|
Expenses on borrowings |
65,514,520
|
34,006,601
|
65,514,520
|
34,006,601
|
|
Fee and service expenses |
79,699,845
|
67,266,636
|
66,303,235
|
56,026,223
|
|
Bad debt and doubtful accounts (reversal) |
1,864,994
|
-10,192,727
|
1,864,994
|
-10,192,727
|
|
Operating expenses |
|
|
|
|
|
Personnel expenses |
585,506,428
|
501,259,084
|
507,737,366
|
419,933,881
|
|
Premises and equipment expenses |
133,807,074
|
140,943,697
|
118,859,154
|
125,386,216
|
|
Taxes and duties |
10,195,718
|
7,839,363
|
10,195,718
|
7,839,363
|
|
Directors' remuneration |
8,133,027
|
8,328,440
|
2,535,000
|
2,215,000
|
|
Other expenses |
142,195,269
|
138,022,558
|
106,389,989
|
103,598,106
|
|
Total operating expenses |
879,837,516
|
796,393,142
|
745,717,227
|
658,972,566
|
|
TOTAL EXPENSES |
1,026,916,875
|
887,473,652
|
879,399,976
|
738,812,663
|
|
INCOME BEFORE CORPORATE INCOME TAX |
495,695,276
|
209,426,629
|
484,303,376
|
497,626,226
|
|
CORPORATE INCOME TAX |
-160,261,739
|
-25,144,474
|
-139,843,252
|
-
|
|
INCOME AFTER CORPORATE INCOME TAX |
335,433,537
|
184,282,155
|
344,460,124
|
497,626,226
|
|
NET INCOME ATTRIBUTABLE TO MINORITY INTEREST |
-1,791,020
|
-2,352,633
|
-
|
-
|
|
NET INCOME FOR THE YEAR |
333,642,517
|
181,929,522
|
344,460,124
|
497,626,226
|
| |
|
|
|
|
|
EARNINGS PER SHARE |
|
|
|
|
|
Net income |
0.17
|
0.09
|
0.17
|
0.25
|
CASH FLOW STATEMENTS
December 31, 2007 and 2006
|
UnitˇGBaht
|
| |
Consolidated financial statements
|
Separate financial statements
|
|
|
2007
|
2006
|
2007
|
2006
|
|
Cash flows from operating activities |
|
|
|
|
|
Net income |
333,642,517
|
181,929,522
|
344,460,124
|
497,626,226
|
|
Adjustments to reconcile net income to net cash |
|
|
|
|
|
provided by (paid from) operating activities :- |
|
|
|
|
|
Net income attributable to minority interest |
1,791,020
|
2,352,633
|
-
|
-
|
|
Dividend received from subsidiary companies |
-
|
-
|
-42,589,747
|
-355,949,869
|
|
Bad debt and doubtful accounts (reversal) |
1,864,696
|
-10,192,727
|
1,864,696
|
-10,192,727
|
|
Depreciation and amortisation |
52,686,160
|
63,000,499
|
40,141,746
|
48,759,030
|
|
Unrealised loss on revaluation of investments |
20,730,680
|
5,760,145
|
20,730,680
|
5,760,145
|
|
Discount on investment in debt securities of a subsidiary company |
-24,393
|
-24,393
|
-
|
-
|
|
Amortised deferred interest |
-
|
75,647
|
-
|
75,647
|
|
Loss on written-off of premises and equipment |
8,243,188
|
996
|
8,243,188
|
996
|
|
Gain on sales of premises and equipment |
-4,812,593
|
-2,434,853
|
-4,339,657
|
-608,092
|
|
Income from operating activities before |
|
|
|
|
|
changes in operating assets and liabilities |
414,121,275
|
240,467,469
|
368,511,030
|
185,471,356
|
|
Operating assets (increase) decrease |
|
|
|
|
|
Long - term deposits at financial institutions |
-122,018,161
|
-115,280,000
|
-146,898,161
|
-
|
|
Short-term investments |
-511,773,656
|
-1,261,523,881
|
-511,773,656
|
-1,301,418,616
|
|
Receivable from Clearing House |
-112,485,151
|
-138,153,690
|
-112,485,151
|
-138,153,690
|
|
Securities and derivatives business receivable |
-368,378,486
|
1,239,235,243
|
-368,378,486
|
1,239,235,243
|
|
Other derivatives assets |
188,801
|
-188,800
|
188,801
|
-188,800
|
|
Intangible assets |
-
|
-5,336,000
|
-
|
-5,336,000
|
|
Other assets |
12,601,718
|
-46,765,902
|
13,870,933
|
-19,878,246
|
|
Operating liabilities increase (decrease) |
|
|
|
|
|
Securities sold under repurchased agreement |
1,001,164,888
|
728,068,198
|
1,001,164,888
|
728,068,198
|
|
Payables to Clearing House |
375,526,911
|
4,042,862
|
375,526,911
|
4,042,862
|
|
Securities and derivatives business payable |
184,313,936
|
-937,972,797
|
184,313,936
|
-937,972,797
|
|
Accrued expenses |
68,167,988
|
-20,568,609
|
69,699,937
|
-2,124,866
|
|
Corporate income tax payable |
84,419,413
|
-635,636
|
83,537,200
|
-
|
|
Other derivatives liabilities |
14,130,204
|
7,320,586
|
14,130,204
|
7,320,586
|
|
Other liabilities |
4,522,147
|
13,472,708
|
10,178,976
|
3,964,250
|
|
Net cash from (used in) operating activities |
1,044,501,827
|
-293,818,249
|
| |