2 Financial information by business segment Financial information by geographical segment has not been prepared because the company and its subsidiaries are operating solely in Thailand. Financial information by business segment for the three-month and six-month periods ended 30 June 1999 and 1998 are as follows: For the three-month period ended 30 June 1999 Rental and Food and services Beverage Consolidated Baht'000 Baht'000 Baht'000 Revenues 534,871 100,591 635,462 Segment results 284,478 26,916 311,394 Other income 31,729 Gain on foreign exchange 35,557 Interest income 13,127 Administrative expenses (103,247) Interest expense (95,663) Doubtful debt on loan to related company (40,000) Income tax (45,269) Minority interests (6,743) Net income for period 100,885 Fixed assets by segment (As at 30 June) 9,654,032 93,994 9,748,026 Total assets by segment (As at 30 June) 11,390,256 196,561 11,586,817 For the three-month period ended 30 June 1998 Rental and Food and services Beverage Consolidated Baht'000 Baht'000 Baht'000 Revenues 478,997 65,164 544,161 Segment results 231,754 10,155 241,909 Other income 30,274 Interest income 91,249 Administrative expenses (83,828) Loss on foreign exchange (319,637) Loss on impairment in value of other investments (251,486) Doubtful debt on loan to related company (43,899) Interest expense (142,551) Income tax 191,459 Minority interests 10,550 Net income for period (275,960) Fixed assets by segment (As at 30 June) 10,114,224 55,530 10,169,754 Total assets by segment (As at 30 June) 12,434,305 131,967 12,566,272 2 Financial information by business segment (Cont'd) For the six-month period ended 30 June 1999 Rental and Food and Consolidated services Beverage Baht'000 Baht'000 Baht'000 Revenues 1,067,881 188,290 1,256,171 Segment results 568,681 48,867 617,548 Gain from redemption of convertible bonds 56,185 Other income 68,816 Interest income 25,389 Administrative expenses (173,462) Interest expense (199,287) Doubtful debt on loan to related company (40,000) Provision for loss of property under development (30,000) Loss on foreign exchange (4,972) Income tax (104,566) Minority interests (13,652) Net income for period 201,199 Fixed assets by segment (As at 30 June) 9,654,032 93,994 9,748,026 Total assets by segment (As at 30 June) 11,390,256 196,561 11,586,817 For the six-month period ended 30 June 1998 Rental and Food and Consolidated services Beverage Baht'000 Baht'000 Baht'000 Revenues 958,457 121,901 1,080,358 Segment results 476,179 23,561 499,740 Gain on foreign exchange 205,699 Other income 68,456 Interest income 172,928 Administrative expenses (175,557) Loss from impairment in value of other investments (251,486) Bad debt from loan to related company (43,899) Interest expense (273,192) Income tax (26,014) Minority interests 21,709 Net income for period 198,384 Fixed assets by segment (As at 30 June) 10,114,224 55,530 10,169,754 Total assets by segment (As at 30 June) 12,434,305 131,967 12,566,272 3 Short-term investments Consolidated Company 1999 1998 1999 1998 Baht'000 Baht'000 Baht'000 Baht'000 Fixed deposits 251,630 142,265 250,729 141,509 Promissory notes 123,260 587,933 110,086 496,912 374,890 730,198 360,815 638,421 Securities available-for-sale 15,904 31,533 15,904 31,533 Less: Unrealised loss (805) (13,916) (805) (13,916) 15,099 17,617 15,099 17,617 389,989 747,815 375,914 656,038 4 Trade accounts receivable Consolidated Company 1999 1998 1999 1998 Baht'000 Baht'000 Baht'000 Baht'000 Trade accounts receivable - Related company 70,386 109,427 58,130 89,608 - Others 160,649 184,252 80,150 91,456 231,035 293,679 138,280 181,064 Less: Allowance for doubtful accounts (13,786) (4,895) (6,574) - 217,249 288,784 131,706 181,064 Included in trade accounts receivable as at 30 June 1999 of the interim consolidated and company financial statements are 352 and 163 doubtful debtors, respectively, which can be aged as follows. Consolidated Related Companies Others Total Baht'000 Baht'000 Baht'000 Over 3 months to 6 months 3,834 14,460 18,294 Over 6 months to 12 months 7,998 21,739 29,737 Over 12 months 24,933 24,816 49,749 Total 36,765 61,015 97,780 Customers' deposit 12,870 93,511 106,381 Company Related Companies Others Total Baht'000 Baht'000 Baht'000 Over 3 months to 6 months 2,071 4,727 6,798 Over 6 months to 12 months 4,773 4,396 9,169 Over 12 months 20,445 11,316 31,761 Total 27,289 20,439 47,728 Customers' deposit 12,870 62,197 75,067 5 Advances and loans to related companies Consolidated Company 1999 1998 1999 1998 Baht'000 Baht'000 Baht'000 Baht'000 Loans to subsidiaries Central Realty Service Co., Ltd. - - - 18,936 Central Food Avenue Co., Ltd. - - 5,874 8,311 Coffee Partners Co., Ltd. - - - 4,746 - - 5,874 31,993 Advances to related companies 9,046 - 9 - 9,046 - 5,883 31,993 Loans to subsidiaries are unsecured and denominated in Thai Baht. The loans are repayable on demand and carry interest at fixed deposit rate. 6 Other current assets Consolidated Company 1999 1998 1999 1998 Baht'000 Baht'000 Baht'000 Baht'000 Other accounts receivable 54,615 48,204 6,897 2,247 Accrued income 33,937 33,352 17,652 33,343 Inventories 23,096 9,776 - - Prepaid expenses 22,396 21,497 1,972 12,044 Advance payments 3,526 4,581 491 1,290 Others 1,585 17,021 1,405 10,965 139,155 134,431 28,417 59,889 7 Loans to related companies Consolidated Company 1999 1998 1999 1998 Baht'000 Baht'000 Baht'000 Baht'000 Subsidiaries Central Pattana Chiang Mai Co., Ltd. - - 217,338 713,822 Central Pattana Khon Kaen Co., Ltd. - - 203,870 199,237 Lang Suan Realty Co., Ltd. - - 90,619 62,091 Central Pattana KoRaj Co., Ltd. - - 58,619 55,399 Coffee Partners Co., Ltd. - - 58,257 - Focus Holding Co., Ltd. - - 22,126 394,844 Food Novelties Co., Ltd. - - 13,385 45,171 - - 664,214 1,470,564 Related company Siam Retail Development Co., Ltd. 162,739 175,598 162,739 175,598 Less: Allowance for doubtful accounts (83,899) (43,899) (83,899) (43,899) 78,840 131,699 78,840 131,699 Total 78,840 131,699 743,054 1,602,263 Loans to subsidiaries and related companies are unsecured and denominated in Thai Baht. The loans are repayable on demand and carry interest at the parent company's borrowing rate. Loans to related company represent subordinated shareholders' loans at the Group's shareholding proportion. As of 30 June 1999, the Group holds investment in ordinary shares representing 15% of total shares outstanding of Siam Retail Development Co., Ltd., (SRDC). As at 31 December 1998, SRDC' s current assets fell short of its current liabilities of Baht 1,856 million and its shareholders' equity had a deficiency of Baht 1,245 million. The company is in the process of restructuring its debts with the lenders. The management believes that the net carrying values, after provision, of loan to and related investment in the related company could be recovered in full. 8 Investment in subsidiaries Paid-up Percentage share of capital Holding Principal 1999 1998 1999 1998 activities Million Baht Million Baht % % Central Pattana Chiangmai Co., Ltd. (1) and (4) 1,000.0 475.0 100.0 100.0 Focus Holding Co., Ltd. (1) 800.0 400.0 100.0 100.0 Lang Suan Realty Co., Ltd. (3) 150.0 150.0 100.0 100.0 Central Pattana Ko Raj Co., Ltd. (1) 200.0 200.0 100.0 100.0 Central Realty Co., Ltd. (2) 1.0 1.0 100.0 100.0 Central Food Avenue Co., Ltd. (4) 1.0 1.0 100.0 100.0 Food Novelties Co., Ltd. (5) 25.0 1.0 100.0 100.0 Coffee Partners Co., Ltd. (5) 40.5 1.0 90.0 100.0 Central Pattana Khon Kaen Co., Ltd. (1) 260.0 260.0 78.1 61.7 Namsap Pattana Co., Ltd. (1) 230.0 100.0 60.5 50.0 Central Pattana Nine Square Co., Ltd. (1) 402.0 402.0 60.0 60.0 Central Pattana Chonburi Co., Ltd. (1) 315.1 315.1 60.0 60.0 (1) Construction of shopping center buildings for rent (2) Utility services in shopping center (3) Construction of condominium and shophouse for rent (4) Sales of food and beverage (5) Produce sales and import of food, biscuits and beverage Company Investment Investment at cost at equity Method Method 1999 1998 1999 1998 Baht'000 Baht'000 Baht'000 Baht'000 Central Pattana Chiangmai Co., Ltd. 1,000,000 475,000 922,057 444,643 Focus Holding Co., Ltd. 800,000 400,000 693,887 399,788 Lang Suan Realty Co., Ltd. 150,000 150,000 104,546 122,769 Central Pattana Ko Raj Co., Ltd. 199,999 199,999 68,867 186,091 Central Realty Service Co., Ltd. 1,000 1,000 30,828 93,068 Central Food Avenue Co., Ltd. 1,000 1,000 13,718 11,506 Food Novelties Co., Ltd. 25,000 1,000 21,489 - Coffee Partners Co., Ltd. 36,449 1,000 17,619 935 Central Pattana Khon Kaen Co., Ltd. 203,149 203,149 141,061 192,530 Namsap Pattana Co., Ltd. 454,928 324,926 503,841 368,619 Central Pattana Nine Square Co., Ltd. 241,200 241,200 238,685 242,136 Central Pattana Chonburi Co., Ltd. 189,084 189,084 187,941 188,162 Total 3,301,809 2,187,358 2,944,539 2,250,247 (more)