Central Pattana Public Company Limited Notes to the Interim Consolidated and Company Financial Statements (Unaudited) For the three-month periods ended 31 March 2001 and 2000 e) Short-term loan and advances to related parties (Continued) The movements in short-term loans to related parties can be analysed as follows: Consolidated Company 31 March 31 December 31 March 31 December 2001 2000 2001 2000 Baht 000 Baht 000 Baht 000 Baht 000 Short-term loan Beginning balance - - 19,550 - Increase during the period - - - 19,550 Disposal of subsidiary (Note 13) - - -19,550 - - - - 19,550 Advances Beginning balance 6,813 5,453 - - Advances paid during the period 13 1,360 - - Disposal of subsidiary (Note 13) -1,426 - - - 5,400 6,813 - - 5,400 6,813 - 19,550 f) Loans to related parties Consolidated Company 31 March 31 December 31 March 31 December 2001 2000 2001 2000 Baht 000 Baht 000 Baht 000 Baht 000 Subsidiaries Central Pattana Chiangmai Co., Ltd. - - 504,856 467,243 Central Pattana Khon Kaen Co., Ltd. - - 192,568 188,668 Lang Suan Realty Co., Ltd. - - 73,865 88,675 Central Pattana Ko Raj Co., Ltd. - - 60,503 60,303 Focus Holding Co., Ltd. - - 138,756 74,849 - - 970,548 879,738 Related companies Siam Retail Development Co., Ltd. 162,739 162,739 162,739 162,739 Less : Allowance for doubtful accounts -123,899 -123,899 -123,899 -123,899 38,840 38,840 38,840 38,840 38,840 38,840 1009388 918,578 Central Pattana Public Company Limited Notes to the Interim Consolidated and Company Financial Statements (Unaudited) For the three-month periods ended 31 March 2001 and 2000 f) Loans to related parties (Continued) The movements in loans to related parties can be analysed as follows: Consolidated Company 31 March 31 December 31 March 31 December 2001 2000 2001 2000 Baht 000 Baht 000 Baht 000 Baht 000 Short-term and long-term loans to Subsidiaries Beginning balance net allowance for doubtful accounts - - 879,738 751,164 Increase during the period - - 112,810 397,708 Decrease during the period - - -22,000 -269,134 - - 970,548 879,738 Loans to related companies Beginning balance net allowance for doubtful accounts 38,840 38,840 38,840 38,840 Increase during the period - - - - Decrease during the period - - - - 38,840 38,840 38,840 38,840 38,840 38,840 1009388 918,578 Loans to subsidiaries and related companies are unsecured and denominated in Thai Baht, except loan to Central Pattana Khon Kaen Co., Ltd. which is secured by plots of land owned by the subsidiary with net book value of Baht 326 million. Loans to subsidiaries which are wholly owned by the Company carry interest at the parent company's deposit rate. Loans to other subsidiaries and related companies carry interest at the parent company's bank borrowing rate. g) Investments in subsidiaries Details of investments in subsidiaries and related companies are as follows: Paid up capital Percentage of holding 31 March 31 December 31 March 31 December 2001 2000 2001 2000 Business Million Baht Million Baht % % Subsidiaries Central Pattana Chiangmai Co., Ltd. (1)and(4) 1,000.00 1,000.00 100 100 Focus Holding Co., Ltd. -1 800 800 100 100 Langsuan Realty Co., Ltd. -3 150 150 100 100 Central Pattana Ko Raj Co., Ltd. -1 200 200 100 100 Central Realty Service Co., Ltd. -2 1 1 100 100 Central Food Avenue Co., Ltd. -4 1 1 100 100 Central Pattana Khon Kaen Co., Ltd. -1 260 260 78.1 78.1 Central Pattana Nine Square Co., Ltd. -1 402 402 60 60 Joint Ventures Central Pattana Rama 3 Co., Ltd. -1 300 300 60.5 60.5 Central Pattana Chonburi Co., Ltd. -1 315.1 315.1 60 60 -1Construction of shopping center buildings for rent. -2Utilities service in shopping center. -3Construction of condominium and shop houses for rent. -4Sale of food and beverage Central Pattana Public Company Limited Notes to the Interim Consolidated and Company Financial Statements (Unaudited) For the three-month periods ended 31 March 2001 and 2000 g) Investments in subsidiaries (Continued) Company Investment at Investment at cost method equity method 31 March 31 December 31 March 31 December 2001 2000 2001 2000 Baht 000 Baht 000 Baht 000 Baht 000 Investment in Subsidiaries Central Pattana Chiangmai Co., Ltd. 1000000 1000000 910,781 915,787 Focus Holding Co., Ltd. 800,000 800,000 673,336 677,473 Lang Suan Realty Co., Ltd. 150,000 150,000 161,108 153,354 Central Pattana Ko Raj Co., Ltd. 199,999 199,999 66,855 67,134 Central Realty Service Co., Ltd. 1,000 1,000 63,110 48,633 Central Food Avenue Co., Ltd. 1,000 1,000 27,018 21,422 Central Pattana Khon Kaen Co., Ltd. 203,149 203,149 92,754 92,679 Central Pattana Nine Square Co., Ltd. 241,200 241,200 237,850 237,970 Investment in Joint Ventures Central Pattana Rama 3 Co., Ltd. 524,934 524,934 642,907 622,224 Central Pattana Chonburi Co., Ltd. 189,084 189,084 157,935 163,070 3310366 3310366 3033654 2999746 All holdings are in the ordinary share capital of the undertaking concerned and are unchange from 31 December 2000, except for the investment in Food Novelties Co., Ltd. The Group disposed all investment in Food Novelties Co., Ltd. to a related company as described in the note to interim financial statements No. 13. h) Loans from related parties Consolidated Company 31 March 31 December 31 March 31 December 2001 2000 2001 2000 Baht 000 Baht 000 Baht 000 Baht 000 Subsidiaries Central Realty Service Co., Ltd. - - 133,946 141,272 Central Food Avenue Co., Ltd. - - 24,922 11,950 - - 158,868 153,222 Related parties Farry Plaza Co., Ltd. 596 584 - - Other 1,658 1,482 - - 2,254 2,066 - - 2,254 2,066 158,868 153,222 Loans from related parties are unsecured and denominated in Thai Baht. The loans are repayable on demand and carry interest at bank's fixed deposit for loans from subsidiaries and the Minimum Lending Rate (MLR) plus 1% per annum for loans from other related companies. Central Pattana Public Company Limited Notes to the Interim Consolidated and Company Financial Statements (Unaudited) For the three-month periods ended 31 March 2001 and 2000 16 Events incurred after the balance sheet date At the Annual General Meeting on 2 April 2001, the shareholders approved the payments of dividend for the year 2000 at Baht 1.50 per share, totaling Baht 150 million. Dividends payable are not accounted for until they have been ratified at the Annual General Meeting. These financial statements do not reflect this dividend payable, which will be accounted for in the shareholders' equity as an appropriation of retained earnings in the three-month and six-month period ending 30 June 2001. In April 2001, all Euro Convertible Bonds were due for maturity. The Company have purchased and settled the bonds as follows: ท The Company purchased 3,200 bonds from the bondholders with a gain on the purchase amounting to Baht 2.6 million. ท The Company settled 24,460 bonds at the redemption price of US Dollars 1,320 per share. The remaining of 50 bonds were converted, at the bondholders' requests, into 12,250 of Company's ordinary shares. CENTRAL PATTANA PUBLIC COMPANY LIMITED INTERIM FINANCIAL STATEMENTS (UNAUDITED) 31 MARCH 2001