ข่าวแจ้งตลาดหลักทรัพย์

= Translation = Ref: CK-09-000-AFD-L-0122 21 August 2009 Subject: Declaration of Progress of Total Loans and Interest Repayment as Due Date on 30 June 2009 Attention: President The Stock Exchange of Thailand Ref: 1) The Company's Letter No.CK-07-0000-AFD-L-0226 dated 25 April 2007 2) The Company's Letter No.CK-07-0000-AFD-L-0164 dated 29 May 2007 3) The Company's Letter No.CK-07-0000-AFD-L-0297 dated 27 December 2007 4) The Company's Letter No.CK-07-0000-AFD-L-0584 dated 28 December 2007 5) The Company's Letter No.CK-08-0000-AFD-L-0083 dated 25 December 2008 6) The Company's Letter No.CK-09-0000-AFD-L-0075 dated 1 June 2008 Dear Sir, Reference is made to the fact that CH. Karnchang Public Company Limited"Company" has issued a declaration letter of the additional information of the consolidated financial statements ended 31 March 2009 on loans in item 11 in proportion to the company's interest in the joint-venture and another letter declared on the active transactions period according to the plan as the above-mentioned letter. As there have been the loan transaction between Modern Construction Material Company Limited with Joint Venture CKAE Consortium and between Bangkok Concrete Industry Company Limited (Subsidiary) "BCI" with CH.Karnchang Public Company Limited the Company which is totally due to pay back within 30 June 2009. Thus, the Company hereby declares on the additional active transactions as follows: 1) Joint Venture CKAE Consortium as formerly planned to receive a totaled loans repayment within no later than 31 December 2008. The Board of Directors of CH. Karnchang Public Company Limited had approved on 24 December 2008 for the Company on behalf of CKAE Consortium to extend on the schedule of period for loan receivable repayment to the borrower's company in accordance with repayment plan as proposed by the borrower's company namely Modern Construction Material Company Limited hereby extend on the schedule of period for a whole of loan receivable repayment from former schedule as planned within 31 December 2008 as to pay all of loan by 30 June 2009 of which such sum had been totally repaid already due to the terms. However, Best Plan Technology Company Limited has requested to extend its loan repayment from former schedule which had to pay a whole of loan within 31 December 2008 as changed to gradually repay of the principal and its accrued interest in each quarter totaled 8 installments from 31 March 2009 until 31 December 2010. Unit : Million Baht Best Plan Modern Construction Technology Co., Ltd. Material Co., Ltd. Principal Interest Principal Interest First loan 24.5 - 24.5 - Loans during first loan-end of 2006 239.7 84.7 423.1 148.1 Receivable repayment during first loan-end of 2006 (54.5) (19.8) (55.6) (90.9) Balance as of 31 December 2006 209.7 64.9 392.0 57.2 Interest during the period of January to December 2007 - 45.6 - 70.3 Repayment during the period of January to December 2007 - (65.3) (379.9) (127.5) Balance as of 31 December 2007 209.7 45.2 12.1 - Interest during the period of January to December 2008 - 19.9 - 1.0 Repayment during the period of January to December 2008 - (13.1) (5.8) (0.92) Balance as of 31 December 2008 209.7 52.0 6.3 0.1 Interest during the period of January to March 2009 - 4.9 - 0.1 Repayment during the period of January to March 2009 - (3.6) (3.9) (0.1) Balance as of 31 March 2009 209.7 53.3 2.4 0.1 Interest during the period of April to June 2009 - 4.8 - - Repayment during the period of April to June 2009 (19.6) (11.9) (2.4) (0.1) Balance as of 30 June 2009 190.1* 46.2* - - Remarks: *Best Plan Technology Company Limited had repaid for the principal with its interest for 32.3 million baht in June 2009 according to the terms (due to the proportion of the Company's consortium). As BP had repaid for the principal with its interest by post dated cheque including some part of the accrued interests amounted 6.7 million baht in due date to repay within September 2009 and to repay the whole interest of July 2009. 2) Joint Venture CKET Consortium as formerly planned will receive at least a half of loans repayment within no later than 31 December 2008 and the rest will be paid totally within 30 June 2009. The Board of Directors of CH. Karnchang Public Company Limited had approved on 24 December 2008 for the Company on behalf of CKET Consortium, to extend on the schedule of period for loan receivable repayment and the account receivable for the construction contract's debt to the borrower's company in accordance with repayment plan as proposed by the borrower's Company namely Rayong Real Estate Company Limited "RY" and Private Inter Construction Company Limited "PIC" had requested for extension of its loan repayment from the former schedule which had to pay a half of remaining loan within 31 December 2008 and would pay a whole of loan within 30 June 2009 as changed to gradually repay of the principal in each quarter totaled 23 installments whereby will repay for the obligation of principle beginning from March 2009 until September 2014 and will repay for accrued interest in September 2014,December 2014 and March 2015. For the construction contract debt in the amount 325.7 million baht, it had to pay in each quarter totaled 13 installments whereby will begin from September 2009 until September 2012. CH. Karnchang Public Company Limited still has also construction revenue from RY in the amount of 21.5 million baht which is in the current for the ordinary course of business. Therefore, as the economic situation of the country has been effected from the political situation inside country which including the very low economic impact that enable the business operation of Private Inter Construction Company Limited to get not enough income that can make a repayment for debt as scheduled. In addition, Rayong Real Estate Company Limited should delay its development on the project of real estate and golf course, resort,accommodation so that "RY" therefore is unable to operate its service as planned, however, "RY" has already made of business operation plan and repayment of debt proposed to the joint venture to express its ability as to gradually repay for loan and the Joint Venture CKET Consortium thus has carefully ceased recognition on interest from the aforesaid borrower's company since 1 July 2008 and will recognize upon only having paid of interest according to cash basis. In the meantime value of security for such debt has been a number of lands and buildings whereby have been appraised by the independent appraiser totaling 1,588.9 million baht (in proportion to the Company's interest in the joint venture) that have been valued closely to the debt. Moreover, Rayong Real Estate Company Limited "RY" had already informed of its progress of the operation for RY's immovable property development project named Wangjuntr Golf Park project which located at 129, Moo 6, Tambol Pa Yoob Nai, Amphur Wang Chan, Rayong Province. This project had been planned to develop to be a golf course with 54 holes divided into 3 phases including club house as well as lodging and resort of which to be sold for members and also sell some parts of land in the future. However, as the public utility development plan approaching to the government sector has not yet reached its target, such development had been therefore delayed and enabled the project to be not completed entirely. At present, this project had been in the process for the specialist to have a course test for some parts especially Phase I and Phase II zones of golf course as to prepare for its readiness and must take some time for an official opening for the whole project. Consequently, the land development procedure in construction of Golf Course, Resort, Golf Club and immovable property development of the premium grade had been sold out of those buildings which had been already completed approximately 56 %.However, there have not yet had any income from the golf course development at present and there also have not had any further progress until now. Unit : Million Baht Rayong Real Private Inter Estate Co., Ltd Construction Co., Ltd. Principal Interest Principal Interest First loan 152.0 - 160.0 - Loans during first loan-end of 2006 1,048.0 231.9 44.0 29.9 Receivable repayment during first loan-end of 2006 (79.1) (25.6) (60.6) (12.1) Balance as of 31 December 2006 1,120.9 206.3 143.4 17.8 Interest during the period of January to December 2007 - 143.5 - 18.3 Repayment during the period of January to December 2007 - (185.0) (0.7) (34.0) Balance as of 31 December 2007 1,120.9 164.8 142.7 2.1 Interest during the period of January to December 2008 - 48.4 - 6.1 Repayment during the period of January to December 2008 - (25.6) - (2.4) Balance as of 31 December 2008 1,120.9 187.6 142.7 5.8 Interest during the period of January to March 2009 - - - - Repayment during the period of January to March 2009 - - - - Balance as of 31 March 2009 1,120.9 187.6 142.7 5.8 Interest during the period of April to June 2009 - - - - Repayment during the period of April to June 2009 (4.0) - (1.6) - Balance as of 30 June 2009 1,116.9 187.6 141.1 5.8 Remarks: * Rayong Real Estate Company Limited had repaid for the whole principal for 4 million baht in June 2009 according to the terms (due to the proportion of the Company's consortium).As Private Inter Construction Company Limited had repaid for the whole principal of 2.4 million baht in July 2009 (due to the proportion of the Company's consortium) and has to pay back in advance for the principal of September 2009 (amounted 2.4 million baht due to the proportion of the Company's consortium). 3) As the Company has already notified to sell the ordinary shares of Bangkok Concrete Industry Company Limited (Subsidiary) "BCI" to Widen Holding Company Limited as referred to 3). However, the Company expects to receive a repayment completed within June 2009. Thus,BCI has presented a letter to the Company regarding a transfer of the whole existing assets such as its land, buildings and machineries to be replaced for the aforesaid debt. At present, the Company has been in a process of the appraisal for totaled value of the assets and has been presently during on cost negotiation as well as in case of having differential debt whereby Widen Holding Company Limited as a whole guarantor would be responsible instead of BCI with the Company as well. Thus, the Company hereby notifies for additional information concerning the loan burden of BCI as dealt with the Company as of 30 June 2009 as followed. Unit : Million Baht Loans - Bangkok Concrete Industries Co., Ltd. Principal Interest Balance as of 31 December 2007 111.4 10.9 Interest during the period of January to December 2008 - 8.2 Repayment during the period of January to December 2008 - - Balance as of 31 December 2008 111.4 19.1 Interest during the period of January to March 2009 - 1.9 Repayment during the period of January to March 2009 - - Balance as of 31 March 2009 111.4 21.0 Interest during the period of April to June 2009 - 2.0 Repayment during the period of April to June 2009 - - Balance as of 30 June 2009 111.4 23.0 Account receivable - Bangkok Concrete Industries Co., Ltd. Balance as of 31 December 2007 66.3 Repayment during the period of January to December 2008 - Adjustment VAT (0.6) Balance as of 31 December 2008 65.7 Repayment during the period of January to March 2009 - Balance as of 31 March 2009 65.7 Repayment during the period of April to June 2009 - Balance as of 30 June 2009 65.7 Hence, kindly please be informed accordingly. Yours faithfully, = Signature = (Mr. Vorapote Uchupaiboonvong) Executive Vice President : Accounting and Finance