Panjawattana Plastic Public Company Limited
Panjawattana Plastic Public Company Limited
Panjawattana Plastic Public Company Limited
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- 37 -PANJAWATTANA PLASTIC PUBLIC COMPANY LIMITED AND ITS SUBSIDIARIESNOTES TO FINANCIAL STATEMENTS (CONT.)DECEMBER 31, 2012 AND 2011Mold for amortization movements are as follow :-BahtConsolidated financial statementsSeparate financial statements2012 2011 2012 2011Beginning balance 5,440,333.29 4,854,465.78 4,920,333.29 4,854,465.78Plus Increase during the year 3,669,660.00 1,886,900.00 3,669,660.00 1,366,900.00Less Amortized off during the year (3,531,351.98) (1,301,032.49) (3,490,440.30) (1,301,032.49)Ending balance 5,578,641.31 5,440,333.29 5,099,552.99 4,920,333.2914. BANK OVERDRAFTS AND SHORT-TERM LOANS FROM FINANCIAL INSTITUTIONSBahtConsolidated financial statements/Interest rate (%) Separate financial statementsper annum 2012 2011Promissory notes MRR 38,000,000.00 -Promissory notes MOR+0.25 - 80,000,000.00Promissory notes MOR-0.50 - 85,000,000.00Trust receipt 4.00 7,342,280.40 16,426,130.98Factoring 7.50 - 9,985,624.93Total 45,342,280.40 191,411,755.91As at December 2012 and 2011, the <strong>Company</strong> and its subsidiaries has bank overdraft and shorttermloans from financial institution with 2 and 1 local commercial bank as follow :As at December 31, 2012, the <strong>Company</strong> has bank overdraft in limit of Baht 40 million at interestrate MOR per annum and has short-term loan in term of promissory note in limit of Baht 415 million atinterest rate MRR per annum, opening limit of letter of credit and do trust receipt for ordering machineriesfrom foreign country in limit of Baht 180 million (Total limit of Baht 635 million).As at December 31, 2011, the <strong>Company</strong> has bank overdraft in limit of Baht 10 million at interestrate MOR per annum and has short-term loan in term of promissory note in limit of Baht 80 million atinterest rate MOR + 0.25 per annum, and has short-term loan in term of promissory note in limit of baht85 million at interest rate MOR-0.50 per annum, opening limit of letter of credit and do trust receipt forordering machineries from foreign country in limit of Baht 85 million (Total limit of Baht 260 million).The overdraft and short-term loan lines are secured by mortgage of property and construction ofthe <strong>Company</strong> and company’s machinery as well as the benefits from property insurance for using ascollateral for credit limit. (see note 11).110
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