Ref No. 006/13/22/2008
February 22, 2008
President The Stock Exchange of Thailand
62 Ratchadapisek Road
Klongtoei BANGKOK 10100
Dear Sir,
Re : Explanation on Changed its Accounting Policy
Year 2007, Amata Corporation Public Company Limited changed its accounting policy for recording investments in subsidiary and associated companies in the separate financial statements from the equity method to the cost method, in compliance with Accounting Standard No.44 (Revised 2007) regarding "Consolidated Financial Statements and Separate Financial Statements", under which investments in subsidiaries, jointly controlled entities and associates are to be presented in the separate financial statements under the cost method.
Year 2007, the Company changed its accounting policy for recording investments in subsidiaries and associates in the separate financial statements from the equity method to the cost method, in compliance with Accounting Standard No. 44 (Revised 2007) regarding "Consolidated Financial Statements and Separate Financial Statements", under which investments in subsidiaries, and associates are to be presented in the separate financial statements under the cost method. In this regard, the Company has restated the previous period's separate financial statements as though the investments in the subsidiaries and associates had originally been recorded using the cost method. The change has the effect of decreasing and increasing net income in the separate income statements for the year ended 31 December 2007 and 2006 by Baht 21 million (Baht 0.02 per share) and Baht 180 million (Baht 0.17 per share), respectively. The cumulative effect of the change in accounting policy has been presented under the heading of "Cumulative effect of the change in accounting policy for investments in subsidiaries and associates" in the separate statements of changes in shareholders' equity. Such change in accounting policy affects only the accounts related to investments in subsidiaries and associates in the Company's separate financial statements, with no effect to the consolidated financial statements.
For your information.
Yours sincerely,
AMATA CORPORATION PUBLIC COMPANY LIMITED
Police General Chavalit Yodmani
Chairman
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