SET Announces Listed Company Profit Increases As of 2000 Operational Results

Bangkok--Mar 8--SET The Stock Exchange of Thailand today released its report of remarkably improved listed company operational results for the year 2000. Worthy of note is that operational results for listed companies in the Production and Services Sector increased by 408%. The top five sectors with the highest net profits are Electronic Components, Electrical Products, Pulp and Paper, Energy and Communications. The Banking sector reported a total net loss, down by 97%, while the Finance and Securities sector enjoyed a 107% profit increase. Mr. Vicharat Vichit-Vadakan, President of the Stock Exchange of Thailand, revealed that "the official report as of March 2, 2001 confirmed that 364 of 381 listed companies have submitted their financial statements ending December 2000. Notably, 230 listed companies reported profits while only 134 reported losses. Listed companies in the Production and Services Sector (excluding financial institutions and companies under rehabilitation or REHABCO) experienced total net profits of 21,788 million baht, up by 408% from the total net losses of 7,080 million baht in the same period last year. Nevertheless, listed company total losses showed a signficant improvement when compared to the figure in the same period last year. These losses, including financial institutions and companies in REHABCO, came in at 13,760 million baht, a decreased loss from the total net losses of 429,867 million baht in 2000." In addition, 295 listed companies in Production and Services Sector (excluding financial institutions and companies in REHABCO) reported total net profits of 21,788 million baht, up by 408% from total net losses of 7,080 million baht in the same period last year. These total net profits, excluding losses from the exchange rate of 33,350 million baht, totaled 57,338 million baht, improved from total net profits of 10,618 million baht. The sales growth of listed companies in the Production and Services Sectors has increased by 16%, from 1,169,123 million baht in 1999 to 1,354,218 million baht in 2000, a gross profit margin of 21%. The return on equity increased to 3.29%, when compared to -1.10% for last year. The return on asset increased to 0.95%, when compared to -0.32% for last year. Mr. Vicharat added "as for last year's listed company operational results, 22 sectors in the Production and Services Sectors reported profits. The top five sectors with highest profits are Electronic Components, Electrical Products, Pulp and Paper, Energy and Communications. The companies in these sectors gained a total net profit of 27,373 million baht, up by 639% from their total net losses of 5,075 million baht in the same period last year. This is a result of sales growth, which has increased by 27%, with a gross profit margin of 26% and total net profits from debt restructuring of 10,451 million baht." Companies in six sectors reported losses. The five sectors with the highest losses are Property Development, Transportation, Chemicals and Plastics, Entertainment and Recreation, and Packaging. The companies in these sectors experienced total net losses of 23,150 million baht, increased by 114% from total net losses of 10,818 million baht in the same period last year. Causing this was the exchange rate loss, which has increased by 684%, from 2,442 million baht to 19,137 million baht at the same time period of last year. Listed Companies in the Banking and Finance and Securities Sector, comprising commercial banks and finance and securities companies, have also reported losses. Thirteen commercial banks and the Industrial Finance Corporation of Thailand were dealt total net losses of 10,288 million baht, down by 97% from losses of 332,259 million baht in the same period last year. This is because most commercial banks had the provision of doubtful debts required by the Bank of Thailand, and the result of the Krung Thai Bank (KTB) debt transfer to Asset Management Company, which made a profit of 108,000 million baht. In addition, commercial banks reported that interest income and net dividends, before the provision of doubtful debts, have increased by 145%, as these commercial banks have high levels of spread. Twenty finance and securities companies benefited from net profits of 1,401 million baht, up by 107% from losses of 20,931 million baht in the same period last year. This is because these companies were not burdened by the provision for doubtful debt. Moreover, the income from interest and net dividends, before the provision for doubtful debts and the non-interest income, have increased. Mr. Vicharat continued "as of December 31, 2000, 143 listed companies reported their progress on debt restructuring, which is approximately 50% of the total number of companies. These listed companies have restructured 719,785 million baht worth of debts, or 50% of the total debt amount, up by 186% from the 251,500 million baht worth of debts restructured in December 1999. As for the debt restructuring methods, listed companies have restructured 338,299 million baht worth of debts (47%) by extending the debt period, 71,978 million baht worth of debts (10%) by converting to equity and debenture, and another 57,583 million baht worth of debts by selling property for debt settlement and other methods. There is, however, another 266,477 million baht worth of debts still undergoing the debt restructuring process." For more information on listed company operational results, investors and interested persons can log on to the SIMS system or visit the SET Web site (www.set.or.th). For more information, please contact: Corporate Communications Department Tel: 229-2035 - 2037 End. -AN-

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