Year 2007

12. Intangible Assets
(Baht’000)
Leasehold Computer Computer Total
Right - Land Software Software
Development
Balance - beginning of year 100,165 76,910 27,731 204,806
Additional during the year - 13,499 3,507 17,006
Accumulated amortisation (5,634) (10,651) - (16,285)
Balance - end of year 94,531 79,758 31,238 205,527
Amortisation expenses included
in the income statement for the year 5,634 10,651 - 16,285
13. Additional Unearned Premium Reserves
As at December 31, 2007, the retained earnings of the Company excluded Baht 234.18 million of additional unearned
premium reserve (2006: Baht 349.71 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.
14. Share Capital and Stocks Dividend
On April 26, 2006, the Annual General Meeting No. 13 of the Company’s shareholders resolved to allocate Baht 117 million
of its retained earnings to the registered share capital of the Company, with 11.7 million shares of Baht 10 each to be issued to
make payment of a stock dividend at a rate of 3 dividend shares for every 10 existing shares held, at a price of Baht 10 per share.
Shareholders with fractions remaining as a result of the calculation of the stock dividend are to receive a cash dividend at a rate of
Baht 3 per share. All unallocated dividend shares are to be offered to “The Registered Provident Fund of Bangkok Insurance and
Life” at a price of Baht 10 per share. The Company paid the cash dividend and stock dividend on May 25, 2006. In addition, the
Company registered the increase in its share capital with the Ministry of Commerce on May 22, 2006, thus increasing its registered
and paid up share capital from Baht 390 million to Baht 507 million.
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