We aim to be the most preferred non-life insurer in Thailand

12. Premium Due and Uncollected
The balance as at December 31, 2009 and 2008 of premium due and uncollected were classified by aging as follows:
(Baht’000)
Overdue 2009 2008
Not over 3 months 1,247,625 1,238,323
Over 3 months to 6 months 111,352 125,906
Over 6 months to 12 months 23,115 91,592
Over 12 months 38,553 49,916
Total 1,420,645 1,505,737
Less Allowance for doubtful accounts (32,163) (33,502)
Premium due and uncollected - net 1,388,482 1,472,235
13. Intangible Assets - Computer Software
(Baht’000)
2009 2008
Cost - Computer software 166,948 115,300
Addition 10,787 20,409
Transfer from computer software under development - 31,239
Accumulated amortisation (68,172) (51,150)
Allowance for impairment loss - computer software (24,982) -
Net book value - Computer software 84,581 115,798
Computer software under development 12,400 -
Total 96,981 115,798
Amortisation expense included in the income statements for the years 17,022 15,608
14. Additional Unearned Premium Reserves
As at December 31, 2009, the retained earnings of the Company excluded Baht 340.93 million on of additional unearned
premium reserve (2008: Baht 366.73 million) which the Company set aside for the premium ceded to a foreign reinsurer, in compliance
with the regulations of the Office of Insurance Commission.
15. Liabilities Under Finance Lease Agreements
(Baht’000)
2009
Liabilities under finance lease agreements 27,147
Less Deferred interest expenses (3,786)
Total 23,361
Less Portion due within one year (4,132)
Liabilities under finance lease agreements - net of current portion 19,229
As at December 31, 2009, the Company has entered into the finance lease agreements with leasing companies for rental
of motor vehicles for use in its operation, whereby it is committed to pay rental on a monthly basis. The terms of the agreements
are generally between 5 years.
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