Panjawattana Plastic Public Company Limited

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- 39 -PANJAWATTANA PLASTIC PUBLIC COMPANY LIMITED AND ITS SUBSIDIARIESNOTES TO FINANCIAL STATEMENTS (CONT.)DECEMBER 31, 2012 AND 2011Loan from a local bank consists of :-Loan 1 st On March 5, 2010, the Company has entered into loan agreement in amount of Baht 54million at interest rate MLR + 0.25 per annum. Repayment the principle, not includedinterest are 24 installments at the amount of Baht 2,338,000.00 per month, lastinstallment is Baht 226,000.00. The first period is starting on April 30, 2010 andfinishing on March 31, 2012.Loan 2 nd On March 5, 2010, the Company has entered into loan agreement in amount of Baht 20million at interest rate MLR + 0.25 per annum. Repayment the principle, not includedinterest are 36 installments at the amount of Baht 550,000.00 per month, last installmentis Baht 750,000.00. The first period on July 31, 2010 and finishing on June 30, 2013.Loan 3 rd On November 16, 2010, the Company has entered into loan agreement in amount of Baht85 million with the interest rate MLR percent per annum. Repayment the principle, notincluded interest are 60 installments at the amount of Baht 467,000.00 per month. Therate for January 2012 to May 2016 is Baht 1,520,000.00 per installment and the restamount will be repaid on June 2016.Loan 4 th On November 16, 2010, the Company has entered into loan agreement in amount of Baht45 million with the interest rate MLR percent per annum. Repayment the principle, notincluded interest are 60 installments. The rate for August 2011 to November 2015 isBaht 750,000.00 per installment and the rest amount will be repaid on December 2015.Loan 5 th On June 6, 2011, the Company has entered into loan agreement in amount of Baht 110million with the interest rate MLR percent per annum. Repayment the principle, notincluded interest are 48 installments after receipt the loan, starting on July 2011. Duepayment are as follow:Installment 1-12 Baht is Baht 250,000.00 per installmentInstallment 13-47 Baht is Baht 2,980,000.00 per installmentInstallment 48 rest amount will be repaidLoan 6 th On November 16, 2010, the Company has entered into loan agreement in amount ofBaht 40 million with the interest rate MLR percent per annum. Repayment the principle,not included interest are 60 installments, starting on July 31, 2012. Due payment are asfollow :Installment 1 -59 is Baht 667,000.00 per installment.Installment 60 rest amount will be repaid.112
- 40 -PANJAWATTANA PLASTIC PUBLIC COMPANY LIMITED AND ITS SUBSIDIARIESNOTES TO FINANCIAL STATEMENTS (CONT.)DECEMBER 31, 2012 AND 2011Loan 7 thOn October 4, 2012, a subsidiary in Thailand entered into loan agreement in amount ofBaht 30 million with the interest rate MLR-2.25 percent per annum. Repayment theprinciple and interest are 60 installments at the amount of Baht 570,000.00 per month. Thefinal payment will pay the remaining amount which starts the first installment on October31, 2012.The loans facilities mentioned above are secured in full amounts by land and building of theCompany and by machineries of the Company and its insurance benefits. (see note 11)The Company has to comply with the significant conditions as specified in the agreements such asmaintaining the financial ratio of debt to equity ratio not over 2.5 times to the end of 2013 (not over 1.5times afterwards), debt service coverage ratio not less than 1.5 times, liquidity ratio : total current assets tototal current liabilities not less than 1 time and ratio of accounts receivable (A/R) value plus inventoriesdivided by trade accounts payable (A/P) plus short-term loan existing on the lenders more than 1 timeuntil the maturity term of the loan agreement.16. LIABILITIES UNDER FINANCIAL LEASE CONTRACTLiabilities under financial lease contract is asset lease that the Company recorded the accountingfollowed by finance lease method and it consisted of:BahtConsolidated financial statements2012 2011Principal Deferred Input VAT Total Payment Principal Deferred Input VAT Total PaymentInterestInterestPayment due within one year 16,043,094.33 1,577,242.38 - 17,620,336.71 34,920,133.65 2,988,938.07 - 37,909,071.72Payment due after one yearBut not over five years 18,939,365.10 1,251,034.32 - 20,190,399.42 28,136,113.39 1,726,779.19 - 29,862,892.58Total 34,982,459.43 2,828,276.70 - 37,810,736.13 63,056,247.04 4,715,717.26 - 67,771,964.30BahtSeparate financial statements2012 2011Principal Deferred Input VAT Total Payment Principal Deferred Input VAT Total PaymentInterestInterestPayment due within one year 13,558,105.04 1,439,487.68 - 14,997,592.72 34,920,133.65 2,988,938.07 - 37,909,071.72Payment due after one yearBut not over five years 18,076,293.97 1,239,857.44 - 19,316,151.41 28,136,113.39 1,726,779.19 - 29,862,892.58Total 31,634,399.01 2,679,345.12 - 34,313,744.13 63,056,247.04 4,715,717.26 - 67,771,964.30113
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ANNUAL REPORT 2012CONTENTS01 Messag
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VISION :“Panjawattana Plastic as
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Panjawattana Plastic Public Company Limited

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