SET Announcements

loan to value using arisen from investments loans and in and loans to subsidiaries equity method in subsidiaries advances receivable subsidiaries Wipa View Co., Ltd. 108,472 (86,633) - - 21,839 Continental City Co.,Ltd. 5,231 (6,317) (1,086) - - Bang Plee View Co., Ltd. 37,264 (88,595) (51,331) - - Ban Suk Sabai Co., Ltd. 77,501 (24,834) - 52,667 - 228,468 (206,379) (52,417) 52,667 21,839 World Time Holding Co., Ltd. - 239 - - 239 Research & Consultant Co., Ltd. 3,523 1,281 - 3,523 1,281 Noble Property Management Co., Ltd. 1 - - 1 - 231,992 (204,859) (52,417) 56,191 23,359 13 Related party transactions (continued) b) Investments in and loans to subsidiaries 31 December 1999 (Baht '000) Advances and Less: Investment Net liabilities Net short-term Net investments loan to value using arisen from investments loans and in and loans to subsidiaries equity method in subsidiaries advances receivable subsidiaries Wipa View Co., Ltd. 106,589 (85,858) - - 20,731 Continental City Co.,Ltd. 5,104 (4,428) - - 676 World Time Holding Co., Ltd. - (21,676) (21,676) - - Bang Plee View Co., Ltd. 65,352 (86,032) (20,680) - - Ban Suk Sabai Co., Ltd. 75,384 (23,762) - 51,622 - Ban Siam Co., Ltd. 250,538 (326,194) (75,656) - - 502,967 (547,950) (118,012) 51,622 21,407 Research & Consultant Co., Ltd. 3,394 1,874 - 3,394 1,874 506,361 (546,076) (118,012) 55,016 23,281 Loans to subsidiaries are unsecured and denominated in Thai Baht. The loans have no fixed term of repayment and carry interest at rates varying from 5.00% to 12.75% per annum (1999 : 5.00% to 12.75% per annum). 13. Related party transactions (continued) c) Loan from subsidiary Company 30 June 31 December 2000 1999 Baht'000 Baht'000 Loans from subsidiary World Time Holding Co., Ltd. 6,085 8,035 Loan from subsidiary is unsecured and denominated in Thai Baht. The loan has no fixed term of repayment and carries interest at the rate of 8.00% per annum. (1999 : 8.25% per annum). 14 Commitment and contingent liabilities The company and its subsidiaries have commitments and contingent liabilities as follows: Consolidated Company 30 June 31 December 30 June 31 December 2000 1999 2000 1999 Million Million Million Million Baht Baht Baht Baht Commitment under the contracts to invest in the development project until completion 1.60 5.23 - - Commitment under the contracts to purchase land - 4.50 - 4.50 1.60 9.73 - 4.50 Contingent liabilities as a Guarantor for customers' housing loans of the company and subsidiaries 11.56 11.72 10.86 11.72 Contingent liabilities to bank and financial institutions for letters of guarantee 10.91 11.50 8.06 7.97 22.47 23.22 18.92 19.69 14. Commitment and contingent liabilities (continued) In April 2000, a local financial institution filed a case with the court against the Company and its subsidiaries for breach of an overdraft contract amounting to Baht 16.5 million. The overdrafts are secured by the mortgage of the Company's land and condominium units.In April and June 2000, two financial institutions filed cases with the court against the Company as a co-defendant in respect of guarantee for customers' housing loans totaling Baht 9.5 million. The loans are secured by the mortgage of the borrowers' houses. As at 30 June 2000, these cases are under the court consideration and the ultimate outcome cannot be determined at present, therefore the Company has not made any provision for possible losses. 15. Subsequent events In July 2000, a financial institution filed a case with the court against the Company as a co-defendant in respect of guarantee for customers' housing loan totaling Baht 10.8 million. The loans are secured by the mortgage of the borrowers' houses. The case is under the court consideration and the outcome cannot be determined at present.