The Board of Directors - Saha-Union Co., Ltd

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The investment in Zhuo Zhou Resources Link Co., Ltd. held by Union Energy(China) Co., Ltd., a subsidiary, are classified as general investments since Union Energy(China) Co., Ltd. does not have any significant control and influence over that investeecompany. The investment is accounted for under the cost method, and not adjusted toreflect proportionate interest in its operating results. However, Union Energy (China)Co., Ltd. had recorded fully provision for devalue of investment as the possibility of returnbeing earned on that investment was low.Investment in Ratchaburi Power Co., Ltd.In 2004, Union Energy Co., Ltd. (a subsidiary) sold its 832,500 ordinary shares ofRatchaburi Power Co., Ltd. (RPC), equal to 5 percent of that companyûs share capital, atcost to PTT Plc. As a result, the interest of the subsidiary in RPC decreased from 15percent to 10 percent. RPC is a company engaged in a power - generating project tosupply electricity to the Electricity Generating Authority of Thailand (EGAT). The projectwas delayed for some time due to several factors, but after negotiations among parties in2003 RPC has now been able to proceed with the project and expects commercialoperation to commence in 2008. The subsidiary has not set aside provision for impairmentof this investment since, based on financial projections, the management concluded thatthe present value of future cash flows from the project is higher than the cost of theinvestment.In 2004, Union Energy Co., Ltd. (a subsidiary) sold its shares in Ratchaburi PowerCo., Ltd. to a foreign company and received payment amounting to Baht 693.9 million in2004 and 2005. The Company recognised a gain on the sales of the investment amountingto Baht 224 million and this is presented in the income statement of the year 2005.During 2006, Ratchaburi Power Co., Ltd. increased its registered share capital byBaht 660 million and called up partial of the share value. Up to 31 December 2006, theCompany paid in capital a total of Baht 58.5 million, in proportion to its interest in theequity of that company.118118 SAHA - UNION Public Company Limited
12. PROPERTY, PLANT AND EQUIPMENT(Unit : Thousand Baht)ConsolidatedLand and Buildings Machineryleasehold and and PowerLand improvement facilities equipment plants Others TotalCost31 December 2005 178,558 153,611 3,812,332 6,198,505 1,995,379 1,920,072 14,258,457Assets of sold off subsidiaries - - - - (503,847) - (503,847)Additions 152,890 1,903 10,643 114,448 33,732 637,593 951,209Disposals - - (12,669) (216,084) (25,740) (48,587) (303,080)Transfers - 4,634 57,709 131,678 - (195,338) (1,317)Translation adjustment - - - - (162,179) (34,261) (196,440)31 December 2006 331,448 160,148 3,868,015 6,228,547 1,337,345 2,279,479 14,204,982Accumulated depreciation31 December 2005 - 123,870 2,913,891 4,951,881 920,224 1,234,441 10,144,307Transferred out upon sale of subsidiaries - - - - (241,338) - (241,338)Depreciation for the year - 10,211 150,243 267,304 81,571 178,627 687,956Depreciation on disposals - - (11,253) (211,651) (353) (40,021) (263,278)Translation adjustment - - - - (77,312) (5,507) (82,819)31 December 2006 - 134,081 3,052,881 5,007,534 682,792 1,367,540 10,244,828Allowance for impairment loss31 December 2005 - - - 10,819 13,339 - 24,158Additions - 544 70,717 - - 78,739 150,00031 December 2006 - 544 70,717 10,819 13,339 78,739 174,158Net book value31 December 2005 178,558 29,741 898,441 1,235,805 1,061,816 685,631 4,089,99231 December 2006 331,448 25,523 744,417 1,210,194 641,214 833,200 3,785,996Depreciation for the year2005 (Baht 577 million included in manufacturing cost, and the balance in selling and administrative expenses) 899,5142006 (Baht 409 million included in manufacturing cost, and the balance in selling and administrative expenses) 687,956Annual Report 2006119
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MAJOR FINANCIAL RATIOAND INFORMATIO
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Saha - Union Group is prepared for
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Mr. Damri DarakanandaVice ChairmanA
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Mr. Amorn Chandara-somboonAdvisorAg
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Mr. Kamol KhoosuwanAdvisorAge 67Edu
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Miss Sriwarin JirapakkanaExecutive
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Mrs. Supung TangsujaritpuntExecutiv
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Mr. Thitivat SuebsaengExecutive Dir
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Mr. Aksornprasit DarakanandaExecuti
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Mr. Vacharaphong DarakanandaExecuti
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BOARD OF THE EXECUTIVESSAHA - UNION
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IN THE GROUP COMPANIESInvestment pe
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FINANCIAL STATISTICS2004 2003 2002E
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2006Group Company % Investmentof Bu
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çThe export sales volume in Thai B
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çIn 2007, D-maQ shoes will emphasi
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çEach of the Companyûs affiliates
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çThe IT business in Thailand is st
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çThe Chinese Government is draftin
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INVESMENT ININTERNATIONAL SCHOOLIn
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Social ContributionThe Company has
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STRUCTURE OF SHAREHOLDINGNUMBER OF
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The Board of Directors has the scop
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3. Board of Audit CommitteeThe Audi
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Within the first and second years o
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5. Leadership and VisionThe Board o
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1. Mr. Sompop Amatayakul Chairman2.
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designed to encourage efficient man
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MANAGEMENT DISCUSSION ANDANALYSISBu
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expand its investment to China, a l
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in 2006, the net profit was recorde
Page 69 and 70: epayment of loans in proportion to
Page 71 and 72: million Baht, in accordance with co
Page 73 and 74: Remunerations of the AuditorIn 2006
Page 75 and 76: Jiangsu Zhonglian Carpet Co., Ltd.,
Page 77 and 78: Financial Risk There are significan
Page 79 and 80: CONNECTED TRANSACTIONSSAHA - UNION
Page 81 and 82: REPORT OF THE AUDIT COMMITTEEDear S
Page 83 and 84: REPORT AND CONSOLIDATEDFINANCIAL ST
Page 85 and 86: BALANCE SHEETS (Continued)AS AT 31
Page 87 and 88: INCOME STATEMENTSFOR THE YEARS ENDE
Page 89 and 90: STATEMENTS OF CHANGES IN SHAREHOLDE
Page 91 and 92: CASH FLOW STATEMENTS (Continued)SAH
Page 93 and 94: Assets as a percentage Revenues as
Page 95 and 96: asis5.4 InventoriesInventories are
Page 97 and 98: ConsolidatedTransactions with assoc
Page 99 and 100: The balances of the accounts as at
Page 101 and 102: (Unit : Baht)Consolidated The Compa
Page 103 and 104: 9. INVESTMENTS IN SUBSIDIARIES ACCO
Page 105 and 106: Shareholding Carrying amounts based
Page 107 and 108: In current year, the Companyûs two
Page 109 and 110: Union Micronclean Co., Ltd. Manufac
Page 113 and 114: The Company OnlyShareholding Carryi
Page 119: Investment in available - for - sal
Page 123 and 124: 13. BANK OVERDRAFT AND SHORT - TERM
Page 125 and 126: 18. GAINS (LOSSES) ON EXCHANGEConso
Page 127 and 128: The Company and its subsidiariesû
Page 129 and 130: 25. DIVIDENDS(Unit : Baht)Dividends
Page 131 and 132: Fixed interest ratesWithinFloating
Page 133 and 134: 27.2 Fair values of financial instr
Page 135 and 136: THE PRINCIPLES OF CORPORATEGOVERNAN
Page 137 and 138: OTHER REFERENCESSecurities Registra
Page 139 and 140: ë Processing Center Co., Ltd.Thai
Page 141 and 142: 6.3 The Company has issued its meas
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The Board of Directors - Saha-Union Co., Ltd

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