|
|
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 |
|
|
|
|
Investments in debt and equity securities |
|
|
|
|
|
Short - term investments, net |
|
|
|
|
|
Long - term investments, net |
758,870,213 |
|
20,749,963 |
|
|
Net investments in debt and equity securities |
|
|
4,687,456,371 |
|
|
Investments in subsidiaries |
-
|
|
2,623,233,160 |
|
|
Receivables from Clearing House |
362,811,134 |
|
362,811,134 |
|
|
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
|
|
|
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)
|
|
(2,800)
|
|
|
Property foreclosed |
-
|
1,240,000 |
- |
1,240,000
|
|
Other assets |
4,191,479
|
|
1,570,783
|
|
|
Increase (decrease) in operating liabilities |
|
|
|
|
|
Securities sold under repurchased agreement |
460,812,947
|
|
460,812,947
|
|
|
Payables to Clearing House |
234,166,742
|
|
234,166,742
|
|
|
Securities and derivatives business payable |
245,041,933
|
|
245,041,933
|
|
|
Accrued expenses |
35,554,316
|
|
40,442,950
|
|
|
Other derivatives liabilities |
87,670,246
|
12,944,218
|
87,670,246
|
12,944,218
|
|
Other liabilities |
(1,371,433)
|
|
195,400
|
|
|
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)
|
|
(478,580)
|
|
|
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)
|
|
|
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 |
- |
|
- |
|
|
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 |
|
(241,903,081)
|
190,675,321
|
|
|
Net
increase (decrease) in cash and cash equivalents |
(1,707,697,984)
|
|
(1,600,505,718)
|
618,431,547
|
|
Cash and cash equivalents as at
beginning of year |
1,916,612,980
|
|
1,771,670,318
|
|
|
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@ |
|
 |