Taiwan
Thailand
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