Year 2007

INVESTMENT INCOME
The Company’s investment portfolio at 2007 year-end had increased by Baht 484.4 million, or 6.1 percent, to Baht 8,483.9
million. The Baht 3,757.2 million fixed income investment accounted for 44.3 percent of the total investment portfolio, while the
remaining Baht 4,726.7 million, or 55.7 percent, was invested in both listed and unlisted common stocks.
Fixed income investments consisted of deposits with commercial banks, promissory notes, government bonds and
monetary notes, and debentures. Deposits with commercial banks had decreased by 9.2 percent from the previous year to
Baht 536.7 million, or 6.3 percent of the total investment portfolio. Promissory notes of Baht 478.2 million, representing 5.7 percent
of the total investment portfolio, rose by 413.1 percent. Government bonds and monetary notes increased by 233.4 percent from
the previous year to Baht 272.7 million, or 3.2 percent of the total investment portfolio. Finally, debentures of Baht 31.3 million,
representing 0.4 percent of the total investment portfolio, had decreased by 70.8 percent. The Company’s policy was to diminish
the proportion of direct investment in debt securities and invest in funds that invested in good-quality debt securities and
constantly paid a dividend.
Mortgaged loans decreased by 9.9 percent to Baht 2,435.4 million, or 28.7 percent of the total investment portfolio. This
was because, in 2007, the real estate projects that the Company had subsidized were able to pay their debts to the Company,
reflecting their capability to generate incomes, including a sound financial discipline.
During 2007, the Company’s investments in listed securities rose by Baht 171.3 million, or 5.5 percent, to Baht 3,260.4
million, representing 38.4 percent of the total investment portfolio. The Company chose to invest in fundamentally sound stocks
and focused on long-term investments to avoid price fluctuation.
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