10. Related party transactions

Related party transactions for the year ended 31 October 2011 and 2010
disclosed in this section comprise of transactions between the
enterprises and subsidiaries, associated, and individuals that may have
the conflict of interest as follows:

Related Party Relationship as at October 31, 2011

Subsidiaries

+------------------+---------------------------------------------------+
| Company name     | Relationship                                      |
+==================+===================================================+
| Tamaka Sugar     | Tamaka Sugar Industry Co., Ltd. is controlled by  |
| Industry Co.,    | the company which owns 90.21% of the subsidiary’s |
| Ltd.             | shares. Individuals that relate to directors of   |
|                  | the company own 9.79% of the subsidiary’s shares. |
| Manufacture and  | Therefore, related transactions between the       |
| distribution of  | company and subsidiary are not required to        |
| sugar and        | disclose because the ownership proportion is less |
| molasses         | than 10%.                                         |
+------------------+---------------------------------------------------+
| New Krung Thai   | New Krung Thai Sugar Factory Co., Ltd. is         |
| Sugar Factory    | controlled by the company which owns 95.78% of    |
| Co., Ltd.        | the subsidiary’s shares. Individuals that relate  |
|                  | to directors of the company own 4.22 % of the     |
| Manufacture and  | subsidiary’s shares. Therefore, related           |
| distribution of  | transactions between the company and subsidiary   |
| sugar and        | are not required to disclose because the          |
| molasses         | ownership proportion is less than 10%.            |
+------------------+---------------------------------------------------+
| New Kwang Soon   | New Kwang Soon Lee Sugar Factory Co., Ltd. is     |
| Lee Sugar        | controlled by the company which owns 98.61% of    |
| Factory Co.,     | the subsidiary’s shares. Individuals that relate  |
| Ltd.             | to directors of the company own 1.39 % of the     |
|                  | subsidiary’s shares. Therefore, related           |
| Manufacture and  | transactions between the company and subsidiary   |
| distribution of  | are not required to disclose because the          |
| sugar and        | ownership proportion is less than 10%.            |
| molasses         |                                                   |
+------------------+---------------------------------------------------+
| K.S.L. Real      | K.S.L. Real Estate Co., Ltd. is a subsidiary of   |
| Estate Co., Ltd. | and controlled by the company which owns 80.31%   |
|                  | of the subsidiary’s shares. Major shareholders    |
| Housing and land | and directors of the company own 14.90 % of the   |
| for agriculture  | subsidiary’s shares. The company also has common  |
| estate including | directors namely Mr. Chamroon Chinthammit, Mr.    |
| holiday resort   | Thawatchai Rojanachotikul, Mr. Sukhum             |
| for training and | Tokaranyaset, Mr. Prapas Chutimavoraphand, Mr.    |
| seminar center   | Trakarn Chunharojrit, Mr. Chalush Chinthammit and |
|                  | Ms. Duangdao Chinthammit.                         |
+------------------+---------------------------------------------------+
| Thai Sugar       | Thai Sugar Terminal Public Company Limited is a   |
| Terminal Public  | subsidiary of and controlled by the company which |
| Company Limited  | owns 23.82% of the subsidiary’s shares. Major     |
|                  | shareholders and directors of the company own     |
| Locating, silo   | 38.36% of the subsidiary’s shares. The company    |
| warehouse and    | also has common directors namely Mr. Prapas       |
| property rental  | Chutimavoraphand, Mr. Somchai Chinthammit and Mr. |
|                  | Chalush Chinthammit.                              |
+------------------+---------------------------------------------------+
| K.S.L. Export    | K.S.L. Export Trading Co., Ltd. is a subsidiary   |
| Trading Co.,     | of and controlled by the company, Tamaka Sugar    |
| Ltd.             | Industry Co., Ltd., New Krung Thai Sugar Factory  |
|                  | Co., Ltd. and New Kwang Soon Lee Sugar Factory    |
| Export sugar as  | Co., Ltd. which own 33.87%, 23.11%, 16.04% and    |
| exporting agent  | 9.60% of the subsidiary’s shares, respectively.   |
|                  | The company also has common directors namely Mr.  |
|                  | Chamroon Chinthammit, Mr. Thawatchai              |
|                  | Rojanachotikul, Mr. Sukhum Tokaranyaset and Mr.   |
|                  | Chalush Chinthammit.                              |
+------------------+---------------------------------------------------+
| Savannakhet      | Savannakhet Sugar Corporation is controlled by    |
| Sugar            | the company which owns 98.49% of the subsidiary’s |
| Corporation      | shares. None of major shareholders and directors  |
|                  | of the company own the subsidiary’s shares.       |
| Agricultural     | Therefore, related transactions between the       |
| Operation,       | company and subsidiary are not required to        |
| Manufacture and  | disclose.                                         |
| distribution of  |                                                   |
| sugar and        |                                                   |
| molasses         |                                                   |
+------------------+---------------------------------------------------+
| Koh Kong Sugar   | Koh Kong Sugar Industry Co., Ltd. is controlled   |
| Industry Co.,    | by the company which owns 70.00% of the           |
| Ltd.             | subsidiary’s shares. None of major shareholders   |
|                  | and directors of the company own the shares.      |
| Manufacture and  | Therefore, related transactions between the       |
| distribution of  | company and subsidiary are not required to        |
| sugar and        | disclose.                                         |
| molasses which   |                                                   |
| are during       |                                                   |
| investment       |                                                   |
| process          |                                                   |
+------------------+---------------------------------------------------+

Associates

+------------------+---------------------------------------------------+
| Company name     | Relationship                                      |
+------------------+---------------------------------------------------+
| Champion         | Champion Fermentation Co., Ltd. is an associate   |
| Fermentation     | of and controlled by the company which owns       |
| Co., Ltd.        | 32.50% of the associate’s shares. Major           |
|                  | shareholders and directors of the company own     |
| Holding company  | 18.00% of the subsidiary’s shares. Other major    |
| (the company has | shareholders are a group of Taiwanese             |
| an ownership     | businessman. The company also has common          |
| interest of over | directors namely Mr. Chamroon Chinthammit, Mr.    |
| 50% in           | Sukhum Tokaranyaset and Mr. Thawatchai            |
| Chantaburi       | Rojanachotikul.                                   |
| Starch Co., Ltd. |                                                   |
| which            |                                                   |
| manufacture and  |                                                   |
| distribute of    |                                                   |
| cassava starch)  |                                                   |
+------------------+---------------------------------------------------+

Related Companies

+------------------+---------------------------------------------------+
| Company name     | Relationship                                      |
+------------------+---------------------------------------------------+
| K.S.L. IT Center | K.S.L. IT Center Co., Ltd. is controlled by       |
| Co., Ltd.        | Chengteh Chinaware (Thailand) Co., Ltd., and Thai |
|                  | Fermentation Industry Co., Ltd., whose stakes     |
| Provide          | individually equal to 50% of K.S.L. IT Center     |
| computerized and | Co., Ltd.’s shares. The company also has common   |
| database         | directors namely Mr. Chatri Chinthammit.          |
| services to      |                                                   |
| parent company   |                                                   |
| and related      |                                                   |
| parties          |                                                   |
+------------------+---------------------------------------------------+
| Chengteh         | Chengteh Chinaware (Thailand) Co., Ltd. is        |
| Chinaware        | controlled by the same shareholder group of the   |
| (Thailand) Co.,  | company who owns 51.31% of Chengteh Chinaware     |
| Ltd.             | (Thailand) Co., Ltd.’s shares. The company also   |
|                  | has common directors namely Mr. Chamroon          |
| Manufacture and  | Chinthammit, Mr. Sukhum Tokaranyaset, Mr.         |
| distribution of  | Thawatchai Rojanachotikul, Mr. Trakarn            |
| ceramic products | Chunharojrit and Mr. Chalush Chinthammit.         |
+------------------+---------------------------------------------------+
| Thai             | Thai Fermentation Industry Co., Ltd. is           |
| Fermentation     | controlled by the same shareholder group of the   |
| Industry Co.,    | company who owns 47.10% of Thai Fermentation      |
| Ltd.             | Industry Co., Ltd.’s shares. The company also has |
|                  | common directors namely Mr. Chamroon Chinthammit, |
| Manufacture and  | Mr. Sukhum Tokaranyaset, Mr. Thawatchai           |
| distribution of  | Rojanachotikul, and Mr. Somchai Chinthammit.      |
| seasoning powder |                                                   |
+------------------+---------------------------------------------------+
| On Nuj           | On Nuj Construction Co., Ltd. is controlled by    |
| Construction     | the same shareholder group of the company who     |
| Co., Ltd.        | owns 78.50% of On Nuj Construction Co., Ltd.’s    |
|                  | shares. The company also has common directors     |
| Hotel and real   | namely Mr. Chamroon Chinthammit, Mr. Chalush      |
| estate agent     | Chinthammit, Ms. Duangkae Chinthammit, Ms.        |
|                  | Duangdao Chinthammit and Mr. Prapas               |
|                  | Chutimavoraphand.                                 |
+------------------+---------------------------------------------------+
| K.K. Wood        | K.K. Wood Industry Co., Ltd. is controlled by the |
| Industry Co.,    | same shareholder group of the company who owns    |
| Ltd.             | 93.01% of K.K. Wood Industry Co., Ltd.’s shares.  |
|                  | There is no common director.                      |
| Manufacture and  |                                                   |
| distribution of  |                                                   |
| processing       |                                                   |
| products         |                                                   |
+------------------+---------------------------------------------------+
| Amarco Co., Ltd. | Amarco Co., Ltd. is controlled by the same        |
|                  | shareholder group of the company who owns 100% of |
| Distribution of  | Amarco Co., Ltd.’s shares. There is no common     |
| pesticide        | director.                                         |
| products         |                                                   |
+------------------+---------------------------------------------------+
| Sahamit          | Sahamit Machinery Public Company Limited has      |
| Machinery Public | common director namely Mr. Karun Kittisataporn.   |
| Company Limited  |                                                   |
|                  |                                                   |
| Distribution of  |                                                   |
| spare parts,     |                                                   |
| machinery, tools |                                                   |
| and equipments   |                                                   |
| for industrial   |                                                   |
| factory          |                                                   |
+------------------+---------------------------------------------------+

10.1 The following transactions were carried out with related parties:

10.1.1 Sales and purchases of goods and services including balance
transaction (for the year ended 31 October 2011 and 2010)

+----------------+---------------+----------+---+----+--------------+
| Customers      | Sellers/      | Type of  | A |    | Necessity    |
|                | Service       | Tra      | m |    | and          |
|                | providers     | nsaction | o |    | re           |
|                |               | /        | u |    | asonableness |
|                |               | Co       | n |    |              |
|                |               | nditions | t |    |              |
|                |               |          |   |    |              |
|                |               |          | ( |    |              |
|                |               |          | T |    |              |
|                |               |          | h |    |              |
|                |               |          | o |    |              |
|                |               |          | u |    |              |
|                |               |          | s |    |              |
|                |               |          | a |    |              |
|                |               |          | n |    |              |
|                |               |          | d |    |              |
|                |               |          | B |    |              |
|                |               |          | a |    |              |
|                |               |          | h |    |              |
|                |               |          | t |    |              |
|                |               |          | ) |    |              |
+----------------+---------------+----------+---+----+--------------+
|                |               |          | 3 | 31 |              |
|                |               |          | 1 | O  |              |
|                |               |          | O | ct |              |
|                |               |          | c | 10 |              |
|                |               |          | t |    |              |
|                |               |          | 1 |    |              |
|                |               |          | 1 |    |              |
+----------------+---------------+----------+---+----+--------------+
| Thai           | Khon Kaen     | -        | 4 | 45 | The Company  |
| Fermentation   | Sugar         |    Sales | 6 | ,2 | and its      |
| Industry Co.,  | Industry      |     of   | , | 47 | subsidiaries |
| Ltd.           | Public        |          | 9 |    | sold         |
|                | Company       |    sugar | 2 | -  | molasses to  |
|                | Limited       |     and  | 0 |    | Thai         |
|                |               |          |   | -  | Fermentation |
|                |               | molasses | - |    | Industry as  |
|                |               |          |   |    | raw          |
|                |               | -        | 9 |    | material.    |
|                |               |    Trade | 8 |    | The          |
|                |               |          | 6 |    | transactions |
|                |               | accounts |   |    | arose in     |
|                |               |     re   |   |    | ordinary     |
|                |               | ceivable |   |    | course of    |
|                |               |          |   |    | business     |
|                |               | -        |   |    | which        |
|                |               |  Advance |   |    | carried out  |
|                |               |     re   |   |    | at market    |
|                |               | ceivable |   |    | price on     |
|                |               |     for  |   |    | normal       |
|                |               |          |   |    | terms.       |
|                |               |    goods |   |    |              |
+----------------+---------------+----------+---+----+--------------+
|                | Tamaka Sugar  | -        | 7 | 32 |              |
|                | Industry Co., |    Sales | , |    |              |
|                | Ltd.          |     of   | 8 |    |              |
|                |               |          | 6 |    |              |
|                |               |    sugar | 5 |    |              |
|                |               |     and  |   |    |              |
|                |               |          |   |    |              |
|                |               | molasses |   |    |              |
+----------------+---------------+----------+---+----+--------------+
|                | New Krung     | -        | 1 | 1  |              |
|                | Thai Sugar    |    Sales | 0 | 82 |              |
|                | Factory Co.,  |     of   | 7 | ,6 |              |
|                | Ltd.          |          |   | 04 |              |
|                |               |    sugar | 8 |    |              |
|                |               |     and  | 6 | -  |              |
|                |               |          |   |    |              |
|                |               | molasses |   |    |              |
|                |               |          |   |    |              |
|                |               | -        |   |    |              |
|                |               |    Other |   |    |              |
|                |               |          |   |    |              |
|                |               | accounts |   |    |              |
|                |               |     re   |   |    |              |
|                |               | ceivable |   |    |              |
+----------------+---------------+----------+---+----+--------------+
|                | New Kwang     | -        | 6 | 78 |              |
|                | Soon Lee      |    Sales | 9 | ,8 |              |
|                | Sugar Factory |     of   | , | 79 |              |
|                | Co., Ltd.     |          | 6 |    |              |
|                |               |    sugar | 1 | 2  |              |
|                |               |     and  | 8 | ,2 |              |
|                |               |          |   | 08 |              |
|                |               | molasses | - |    |              |
|                |               |          |   |    |              |
|                |               | -        |   |    |              |
|                |               |    Trade |   |    |              |
|                |               |          |   |    |              |
|                |               | accounts |   |    |              |
|                |               |     re   |   |    |              |
|                |               | ceivable |   |    |              |
+----------------+---------------+----------+---+----+--------------+
|                | Koh Kong      | -        | - | 7  |              |
|                | Sugar         |    Sales |   | 92 |              |
|                | Industry Co., |     of   |   |    |              |
|                | Ltd.          |          |   |    |              |
|                |               |    sugar |   |    |              |
|                |               |     and  |   |    |              |
|                |               |          |   |    |              |
|                |               | molasses |   |    |              |
+----------------+---------------+----------+---+----+--------------+
| Thai           | KSL Chemical  | -        | 5 | 6  | KSL Chemical |
| Fermentation   | Co., Ltd.     |    Sales | 6 | 08 | Co., Ltd.    |
| Industry Co.,  |               |     of   | 9 |    | sold         |
| Ltd.           |               |          |   |    | chemical     |
|                |               | chemical |   |    | product as   |
|                |               |          |   |    | enzyme to    |
|                |               |          |   |    | Thai         |
|                |               |          |   |    | Fermentation |
|                |               |          |   |    | Industry     |
|                |               |          |   |    | Co., Ltd. in |
|                |               |          |   |    | accordance   |
|                |               |          |   |    | with         |
|                |               |          |   |    | production   |
|                |               |          |   |    | process. The |
|                |               |          |   |    | transactions |
|                |               |          |   |    | arose in     |
|                |               |          |   |    | ordinary     |
|                |               |          |   |    | course of    |
|                |               |          |   |    | business     |
|                |               |          |   |    | which        |
|                |               |          |   |    | carried out  |
|                |               |          |   |    | at cost plus |
|                |               |          |   |    | ad           |
|                |               |          |   |    | ministrative |
|                |               |          |   |    | expense.     |
+----------------+---------------+----------+---+----+--------------+
| K.K. Wood      | Khon Kaen     | -        | 1 | 1  | The Company  |
| Industry Co.,  | Sugar         |    Sales | 5 | 75 | sold other   |
| Ltd.           | Industry      |     of   | 2 |    | product      |
|                | Public        |          |   | 4  | consisted of |
|                | Company       |   supply | 9 |    | supplies and |
|                | Limited       |     and  |   | 11 | spare parts  |
|                |               |          | 1 |    | to K.K. Wood |
|                |               |    parts | 0 | 17 | Industry     |
|                |               |          |   |    | Co., Ltd. to |
|                |               | -        | 1 |    | put into     |
|                |               |    Trade | 0 |    | production   |
|                |               |          | 1 |    | process      |
|                |               | accounts |   |    | which        |
|                |               |     re   |   |    | carried out  |
|                |               | ceivable |   |    | at cost plus |
|                |               |          |   |    | ad           |
|                |               | Sale of  |   |    | ministrative |
|                |               | sugar    |   |    | expense.     |
|                |               |          |   |    |              |
|                |               | -        |   |    |              |
|                |               |    Other |   |    |              |
|                |               |          |   |    |              |
|                |               | accounts |   |    |              |
|                |               |     re   |   |    |              |
|                |               | ceivable |   |    |              |
|                |               |     Sale |   |    |              |
|                |               |     of   |   |    |              |
|                |               |          |   |    |              |
|                |               |   supply |   |    |              |
|                |               |     and  |   |    |              |
|                |               |          |   |    |              |
|                |               |    parts |   |    |              |
|                |               |          |   |    |              |
|                |               | -        |   |    |              |
|                |               | Unearned |   |    |              |
|                |               |          |   |    |              |
|                |               |  revenue |   |    |              |
+----------------+---------------+----------+---+----+--------------+
| Khon Kaen      | Thai          | -   Sale | 1 | -  | The          |
| Sugar Industry | Fermentation  |     of   | , |    | Company’s    |
| Public Company | Industry Co., |          | 0 | 1  | group        |
| Limited        | Ltd.          | chemical | 5 |    | purchased    |
|                |               |          | 8 |    | chemical     |
|                |               | -        |   |    | product as   |
|                |               |    Other | 2 |    | caustic soda |
|                |               |          |   |    | and          |
|                |               | accounts |   |    | hydrochloric |
|                |               |          |   |    | acid from    |
|                |               |  payable |   |    | Thai         |
|                |               |          |   |    | Fermentation |
|                |               |   (In    |   |    | Industry     |
|                |               | cidental |   |    | Co., Ltd. to |
|                |               |   e      |   |    | clean their  |
|                |               | xpenses) |   |    | machineries. |
|                |               |          |   |    | The product  |
|                |               |          |   |    | price of     |
|                |               |          |   |    | Thai         |
|                |               |          |   |    | Fermentation |
|                |               |          |   |    | Industry     |
|                |               |          |   |    | Co., Ltd.    |
|                |               |          |   |    | was less     |
|                |               |          |   |    | than the     |
|                |               |          |   |    | others from  |
|                |               |          |   |    | price        |
|                |               |          |   |    | comparison   |
|                |               |          |   |    | because they |
|                |               |          |   |    | were by      |
|                |               |          |   |    | product from |
|                |               |          |   |    | production   |
|                |               |          |   |    | process.     |
+----------------+---------------+----------+---+----+--------------+
| Tamaka Sugar   |               | -   Sale | 1 | 1  |              |
| Industry Co.,  |               |     of   | , | ,2 |              |
| Ltd.           |               |          | 4 | 75 |              |
|                |               | chemical | 3 |    |              |
|                |               |          | 5 | -  |              |
|                |               | -        |   |    |              |
|                |               |    Other | 2 |    |              |
|                |               |          | 3 |    |              |
|                |               | accounts |   |    |              |
|                |               |          |   |    |              |
|                |               |  payable |   |    |              |
|                |               |          |   |    |              |
|                |               |   (In    |   |    |              |
|                |               | cidental |   |    |              |
|                |               |   e      |   |    |              |
|                |               | xpenses) |   |    |              |
+----------------+---------------+----------+---+----+--------------+
| New Krung Thai |               | -   Sale | 1 | 1  |              |
| Sugar Factory  |               |     of   | , | ,0 |              |
| Co., Ltd.      |               |          | 0 | 02 |              |
|                |               | chemical | 7 |    |              |
|                |               |          | 5 | -  |              |
|                |               | -        |   |    |              |
|                |               |    Trade | 6 | 6  |              |
|                |               |          | 6 |    |              |
|                |               | accounts |   |    |              |
|                |               |          | - |    |              |
|                |               |  payable |   |    |              |
|                |               |          |   |    |              |
|                |               | -        |   |    |              |
|                |               |    Other |   |    |              |
|                |               |          |   |    |              |
|                |               | accounts |   |    |              |
|                |               |          |   |    |              |
|                |               |  payable |   |    |              |
|                |               |          |   |    |              |
|                |               |   (In    |   |    |              |
|                |               | cidental |   |    |              |
|                |               |   e      |   |    |              |
|                |               | xpenses) |   |    |              |
+----------------+---------------+----------+---+----+--------------+
| Customers      | Sellers/      | Type of  | A |    | Necessity    |
|                | Service       | Tra      | m |    | and          |
|                | providers     | nsaction | o |    | re           |
|                |               | /        | u |    | asonableness |
|                |               | Co       | n |    |              |
|                |               | nditions | t |    |              |
|                |               |          |   |    |              |
|                |               |          | ( |    |              |
|                |               |          | T |    |              |
|                |               |          | h |    |              |
|                |               |          | o |    |              |
|                |               |          | u |    |              |
|                |               |          | s |    |              |
|                |               |          | a |    |              |
|                |               |          | n |    |              |
|                |               |          | d |    |              |
|                |               |          | B |    |              |
|                |               |          | a |    |              |
|                |               |          | h |    |              |
|                |               |          | t |    |              |
|                |               |          | ) |    |              |
+----------------+---------------+----------+---+----+--------------+
|                |               |          | 3 | 31 |              |
|                |               |          | 1 | O  |              |
|                |               |          | O | ct |              |
|                |               |          | c | 10 |              |
|                |               |          | t |    |              |
|                |               |          | 1 |    |              |
|                |               |          | 1 |    |              |
+----------------+---------------+----------+---+----+--------------+
| New Kwang Soon |               | -   Sale | 3 | 2  |              |
| Lee Sugar      |               |     of   | 1 | 60 |              |
| Factory Co.,   |               |          | 7 |    |              |
| Ltd.           |               | chemical |   | -  |              |
|                |               |          | - |    |              |
|                |               | -        |   | 4  |              |
|                |               |    Trade | - |    |              |
|                |               |          |   |    |              |
|                |               | accounts |   |    |              |
|                |               |          |   |    |              |
|                |               |  payable |   |    |              |
|                |               |          |   |    |              |
|                |               | -        |   |    |              |
|                |               |    Other |   |    |              |
|                |               |          |   |    |              |
|                |               | accounts |   |    |              |
|                |               |          |   |    |              |
|                |               |  payable |   |    |              |
|                |               |          |   |    |              |
|                |               |   (In    |   |    |              |
|                |               | cidental |   |    |              |
|                |               |   e      |   |    |              |
|                |               | xpenses) |   |    |              |
+----------------+---------------+----------+---+----+--------------+
| Khon Kaen      | K.S.L. Export | -        | 3 | 1  | Sugar        |
| Sugar Industry | Trading Co.,  |  Service | , | ,7 | exporting    |
| Public Company | Ltd.          |     fees | 6 | 12 | has to be    |
| Limited        |               |     of   | 7 |    | made by only |
|                |               |          | 2 |    | company that |
|                |               |    goods |   |    | authorized   |
|                |               |     e    |   |    | by Cane and  |
|                |               | xporting |   |    | Sugar Board  |
|                |               |          |   |    | in the Royal |
|                |               |          |   |    | Gazette      |
|                |               |          |   |    | according to |
|                |               |          |   |    | the          |
|                |               |          |   |    | sugarcane    |
|                |               |          |   |    | and sugar    |
|                |               |          |   |    | act. The     |
|                |               |          |   |    | Company’s    |
|                |               |          |   |    | group and    |
|                |               |          |   |    | Prachaup     |
|                |               |          |   |    | Industry     |
|                |               |          |   |    | Co., Ltd.    |
|                |               |          |   |    | therefore    |
|                |               |          |   |    | established  |
|                |               |          |   |    | K.S.L.       |
|                |               |          |   |    | Export       |
|                |               |          |   |    | Trading Co., |
|                |               |          |   |    | Ltd. to only |
|                |               |          |   |    | be export    |
|                |               |          |   |    | agent and    |
|                |               |          |   |    | documental   |
|                |               |          |   |    | support.     |
|                |               |          |   |    | K.S.L.       |
|                |               |          |   |    | Export       |
|                |               |          |   |    | Trading Co., |
|                |               |          |   |    | Ltd. will    |
|                |               |          |   |    | charge       |
|                |               |          |   |    | service fees |
|                |               |          |   |    | at cost plus |
|                |               |          |   |    | ad           |
|                |               |          |   |    | ministrative |
|                |               |          |   |    | expenses     |
|                |               |          |   |    | according to |
|                |               |          |   |    | volume of    |
|                |               |          |   |    | goods.       |
+----------------+---------------+----------+---+----+--------------+
| Tamaka Sugar   |               | -        | 2 | 2  |              |
| Industry Co.,  |               |  Service | , | ,0 |              |
| Ltd.           |               |     fees | 7 | 68 |              |
|                |               |     of   | 6 |    |              |
|                |               |          | 3 |    |              |
|                |               |    goods |   |    |              |
|                |               |     e    |   |    |              |
|                |               | xporting |   |    |              |
+----------------+---------------+----------+---+----+--------------+
| New Krung Thai |               | -        | 2 | 1  |              |
| Sugar Factory  |               |  Service | , | ,1 |              |
| Co., Ltd.      |               |     fees | 6 | 25 |              |
|                |               |     of   | 5 |    |              |
|                |               |          | 8 |    |              |
|                |               |    goods |   |    |              |
|                |               |     e    |   |    |              |
|                |               | xporting |   |    |              |
+----------------+---------------+----------+---+----+--------------+
| New Kwang Soon |               | -        | 8 | 1  |              |
| Lee Sugar      |               |  Service | 0 | 99 |              |
| Factory Co.,   |               |     fees | 0 |    |              |
| Ltd.           |               |     of   |   |    |              |
|                |               |          |   |    |              |
|                |               |    goods |   |    |              |
|                |               |     e    |   |    |              |
|                |               | xporting |   |    |              |
+----------------+---------------+----------+---+----+--------------+
| Koh Kong       |               | -        | 6 | 3  |              |
| Plantation     |               |  Service | 7 | 02 |              |
| Co., Ltd.      |               |     fees | 5 |    |              |
|                |               |     of   |   |    |              |
|                |               |          |   |    |              |
|                |               |    goods |   |    |              |
|                |               |     e    |   |    |              |
|                |               | xporting |   |    |              |
+----------------+---------------+----------+---+----+--------------+
| Savannakhet    |               | -        | 3 | 63 |              |
| Sugar          |               |  Service | 4 |    |              |
| Corporation    |               |     fees | 8 |    |              |
|                |               |     of   |   |    |              |
|                |               |          |   |    |              |
|                |               |    goods |   |    |              |
|                |               |     e    |   |    |              |
|                |               | xporting |   |    |              |
+----------------+---------------+----------+---+----+--------------+
| Khon Kaen      | Thai Sugar    | -        | 1 | 15 | The Company  |
| Sugar Industry | Terminal      |  Service | 6 | ,8 | needs to use |
| Public Company | Public        |     fees | , | 56 | wharf and    |
| Limited        | Company       |     for  | 5 |    | transfer     |
|                | Limited and   |          | 1 | -  | services for |
|                | its           |    goods | 9 |    | group of     |
|                | subsidiary    |          |   | -  | sugar        |
|                | company       |  custody | 6 |    | factory.     |
|                |               |     and  | 5 |    | Thai Sugar   |
|                |               |          | 0 |    | Terminal     |
|                |               | transfer |   |    | Public       |
|                |               |          | 1 |    | Company      |
|                |               | -        | , |    | Limited      |
|                |               |    Other | 2 |    | priced       |
|                |               |          | 9 |    | service fees |
|                |               | accounts | 1 |    | of goods     |
|                |               |     re   |   |    | custody and  |
|                |               | ceivable |   |    | goods        |
|                |               |          |   |    | exporting    |
|                |               | -        |   |    | were charge  |
|                |               |  Accrued |   |    | according to |
|                |               |          |   |    | volume of    |
|                |               | expenses |   |    | goods and    |
|                |               |          |   |    | custody      |
|                |               |          |   |    | time, which  |
|                |               |          |   |    | are general  |
|                |               |          |   |    | rates in the |
|                |               |          |   |    | market.      |
+----------------+---------------+----------+---+----+--------------+
| Tamaka Sugar   |               | -        | 1 | 10 |              |
| Industry Co.,  |               |  Service | 1 | ,8 |              |
| Ltd.           |               |     fees | , | 75 |              |
|                |               |     for  | 2 |    |              |
|                |               |          | 3 | -  |              |
|                |               |    goods | 8 |    |              |
|                |               |          |   | -  |              |
|                |               |  custody | 5 |    |              |
|                |               |     and  | 0 |    |              |
|                |               |          |   |    |              |
|                |               | transfer | 2 |    |              |
|                |               |          | 7 |    |              |
|                |               | -        |   |    |              |
|                |               |    Other |   |    |              |
|                |               |          |   |    |              |
|                |               | accounts |   |    |              |
|                |               |     re   |   |    |              |
|                |               | ceivable |   |    |              |
|                |               |          |   |    |              |
|                |               | -        |   |    |              |
|                |               |  Accrued |   |    |              |
|                |               |          |   |    |              |
|                |               | expenses |   |    |              |
+----------------+---------------+----------+---+----+--------------+
| New Krung Thai |               | -        | 1 | 8  |              |
| Sugar Factory  |               |  Service | 8 | ,2 |              |
| Co., Ltd.      |               |     fees | , | 87 |              |
|                |               |     for  | 4 |    |              |
|                |               |          | 0 |    |              |
|                |               |    goods | 6 |    |              |
|                |               |          |   |    |              |
|                |               |  custody |   |    |              |
|                |               |     and  |   |    |              |
|                |               |          |   |    |              |
|                |               | transfer |   |    |              |
+----------------+---------------+----------+---+----+--------------+
| New Kwang Soon |               | -        | 7 | 1  |              |
| Lee Sugar      |               |  Service | , | ,6 |              |
| Factory Co.,   |               |     fees | 3 | 93 |              |
| Ltd.           |               |     for  | 0 |    |              |
|                |               |          | 9 | -  |              |
|                |               |    goods |   |    |              |
|                |               |          | 4 | -  |              |
|                |               |  custody | 5 |    |              |
|                |               |     and  |   |    |              |
|                |               |          | 1 |    |              |
|                |               | transfer | 0 |    |              |
|                |               |          |   |    |              |
|                |               | -        |   |    |              |
|                |               |    Other |   |    |              |
|                |               |          |   |    |              |
|                |               | accounts |   |    |              |
|                |               |     re   |   |    |              |
|                |               | ceivable |   |    |              |
|                |               |          |   |    |              |
|                |               | -        |   |    |              |
|                |               |  Accrued |   |    |              |
|                |               |          |   |    |              |
|                |               | expenses |   |    |              |
+----------------+---------------+----------+---+----+--------------+
| Khon Kaen      | K.S.L. IT     | -        | 1 | 1  | K.S.L. IT    |
| Sugar Industry | Center Co.,   |  Service | , | ,7 | Center Co.,  |
| Public Company | Ltd.          |     fees | 9 | 40 | Ltd. was     |
| Limited        |               |     of   | 3 |    | established  |
|                |               |     comp | 5 | -  | for serve    |
|                |               | uterized |   |    | computer     |
|                |               |     ac   | 1 | -  | service      |
|                |               | tivities |   |    | center       |
|                |               |          | 1 | 1  | within the   |
|                |               | -        | 4 | 00 | group        |
|                |               |    Other | 5 |    | companies.   |
|                |               |          |   | -  | The said     |
|                |               | accounts | - |    | company      |
|                |               |     re   |   |    | priced       |
|                |               | ceivable | - |    | service fees |
|                |               |          |   |    | calculated   |
|                |               | -        |   |    | by           |
|                |               |  Prepaid |   |    | investment   |
|                |               |          |   |    | cost and     |
|                |               | expenses |   |    | operating    |
|                |               |          |   |    | expense to   |
|                |               | -        |   |    | allocate     |
|                |               |    Other |   |    | according to |
|                |               |          |   |    | actual data  |
|                |               | accounts |   |    | usages of    |
|                |               |          |   |    | each         |
|                |               |  payable |   |    | company.     |
|                |               |          |   |    |              |
|                |               | -        |   |    |              |
|                |               |  Accrued |   |    |              |
|                |               |          |   |    |              |
|                |               | expenses |   |    |              |
+----------------+---------------+----------+---+----+--------------+
| Customers      | Sellers/      | Type of  | A |    | Necessity    |
|                | Service       | Tra      | m |    | and          |
|                | providers     | nsaction | o |    | re           |
|                |               | /        | u |    | asonableness |
|                |               | Co       | n |    |              |
|                |               | nditions | t |    |              |
|                |               |          |   |    |              |
|                |               |          | ( |    |              |
|                |               |          | T |    |              |
|                |               |          | h |    |              |
|                |               |          | o |    |              |
|                |               |          | u |    |              |
|                |               |          | s |    |              |
|                |               |          | a |    |              |
|                |               |          | n |    |              |
|                |               |          | d |    |              |
|                |               |          | B |    |              |
|                |               |          | a |    |              |
|                |               |          | h |    |              |
|                |               |          | t |    |              |
|                |               |          | ) |    |              |
+----------------+---------------+----------+---+----+--------------+
|                |               |          | 3 | 31 |              |
|                |               |          | 1 | O  |              |
|                |               |          | O | ct |              |
|                |               |          | c | 10 |              |
|                |               |          | t |    |              |
|                |               |          | 1 |    |              |
|                |               |          | 1 |    |              |
+----------------+---------------+----------+---+----+--------------+
| Tamaka Sugar   |               | -        | 1 | 1  |              |
| Industry Co.,  |               |  Service | , | ,1 |              |
| Ltd.           |               |     fees | 5 | 38 |              |
|                |               |     of   | 3 |    |              |
|                |               |     comp | 3 | 13 |              |
|                |               | uterized |   |    |              |
|                |               |     ac   | 1 | 70 |              |
|                |               | tivities | 5 |    |              |
|                |               |          | 9 |    |              |
|                |               | -        |   |    |              |
|                |               |  Prepaid | - |    |              |
|                |               |          |   |    |              |
|                |               | expenses |   |    |              |
|                |               |          |   |    |              |
|                |               | -        |   |    |              |
|                |               |  Accrued |   |    |              |
|                |               |          |   |    |              |
|                |               | expenses |   |    |              |
+----------------+---------------+----------+---+----+--------------+
| New Krung Thai |               | -        | 2 | 1  |              |
| Sugar Factory  |               |  Service | , | ,3 |              |
| Co., Ltd.      |               |     fees | 2 | 98 |              |
|                |               |     of   | 2 |    |              |
|                |               |     comp | 2 | 15 |              |
|                |               | uterized |   |    |              |
|                |               |     ac   | - | 79 |              |
|                |               | tivities |   |    |              |
|                |               |          | - |    |              |
|                |               | -        |   |    |              |
|                |               |  Prepaid |   |    |              |
|                |               |          |   |    |              |
|                |               | expenses |   |    |              |
|                |               |          |   |    |              |
|                |               | -        |   |    |              |
|                |               |  Accrued |   |    |              |
|                |               |          |   |    |              |
|                |               | expenses |   |    |              |
+----------------+---------------+----------+---+----+--------------+
| New Kwang Soon |               | -        | 1 | 9  |              |
| Lee Sugar      |               |  Service | , | 11 |              |
| Factory Co.,   |               |     fees | 1 |    |              |
| Ltd.           |               |     of   | 2 | -  |              |
|                |               |     comp | 6 |    |              |
|                |               | uterized |   | 49 |              |
|                |               |     ac   | 1 |    |              |
|                |               | tivities | 3 |    |              |
|                |               |          |   |    |              |
|                |               | -        | - |    |              |
|                |               |  Prepaid |   |    |              |
|                |               |          |   |    |              |
|                |               | expenses |   |    |              |
|                |               |          |   |    |              |
|                |               | -        |   |    |              |
|                |               |  Accrued |   |    |              |
|                |               |          |   |    |              |
|                |               | expenses |   |    |              |
+----------------+---------------+----------+---+----+--------------+
| K.S.L. Real    |               | -        | 5 | 53 |              |
| Estate Co.,    |               |  Service | 0 |    |              |
| Ltd.           |               |     fees |   |    |              |
|                |               |     of   |   |    |              |
|                |               |     comp |   |    |              |
|                |               | uterized |   |    |              |
|                |               |     ac   |   |    |              |
|                |               | tivities |   |    |              |
+----------------+---------------+----------+---+----+--------------+
| K.S.L. Export  |               | -        | 1 | 2  |              |
| Trading Co.,   |               |  Service | 3 | 97 |              |
| Ltd.           |               |     fees | 8 |    |              |
|                |               |     of   |   |    |              |
|                |               |     comp |   |    |              |
|                |               | uterized |   |    |              |
|                |               |     ac   |   |    |              |
|                |               | tivities |   |    |              |
+----------------+---------------+----------+---+----+--------------+
| Savannakhet    |               | -        | 4 | 3  |              |
| Sugar          |               |  Service | 7 | 82 |              |
| Corporation    |               |     fees | 5 |    |              |
|                |               |     of   |   |    |              |
|                |               |     comp |   |    |              |
|                |               | uterized |   |    |              |
|                |               |     ac   |   |    |              |
|                |               | tivities |   |    |              |
+----------------+---------------+----------+---+----+--------------+
| Koh Kong Sugar |               | -        | 1 | 2  |              |
| Industry Co.,  |               |  Service | , | 48 |              |
| Ltd.           |               |     fees | 0 |    |              |
|                |               |     of   | 9 |    |              |
|                |               |     comp | 9 |    |              |
|                |               | uterized |   |    |              |
|                |               |     ac   |   |    |              |
|                |               | tivities |   |    |              |
+----------------+---------------+----------+---+----+--------------+
| Koh Kong       |               | -        | 2 | 2  |              |
| Plantation     |               |  Service | 4 | 20 |              |
| Co., Ltd.      |               |     fees | 4 |    |              |
|                |               |     of   |   |    |              |
|                |               |     comp |   |    |              |
|                |               | uterized |   |    |              |
|                |               |     ac   |   |    |              |
|                |               | tivities |   |    |              |
+----------------+---------------+----------+---+----+--------------+
| Khon Kaen      | Sahamit       | -   Sale | 8 | 1  | The Company  |
| Sugar Industry | Machinery     |     of   | , | ,0 | purchased    |
| Public Company | Public        |          | 8 | 76 | chemical     |
| Limited        | Company       | chemical | 1 |    | product and  |
|                | Limited       |     and  | 9 | -  | spare parts  |
|                |               |          |   |    | from Sahamit |
|                |               |  machine | 7 |    | Machinery    |
|                |               |     part | , |    | Public       |
|                |               |          | 6 |    | Company      |
|                |               | -        | 5 |    | Limited use  |
|                |               |    Other | 5 |    | in           |
|                |               |          |   |    | production   |
|                |               | Payables |   |    | process. The |
|                |               |     from |   |    | product      |
|                |               |     pu   |   |    | price of     |
|                |               | rchasing |   |    | Sahamit      |
|                |               |          |   |    | Machinery    |
|                |               |   assets |   |    | Public       |
|                |               |          |   |    | Company      |
|                |               |          |   |    | Limited was  |
|                |               |          |   |    | less than    |
|                |               |          |   |    | the others   |
|                |               |          |   |    | from price   |
|                |               |          |   |    | comparison.  |
+----------------+---------------+----------+---+----+--------------+
| Tamaka Sugar   |               | -   Sale | 1 | -  |              |
| Industry Co.,  |               |     of   | , |    |              |
| Ltd.           |               |          | 8 | -  |              |
|                |               | chemical | 6 |    |              |
|                |               |     and  | 7 |    |              |
|                |               |          |   |    |              |
|                |               |  machine | 1 |    |              |
|                |               |     part | , |    |              |
|                |               |          | 9 |    |              |
|                |               | -        | 9 |    |              |
|                |               |    Other | 8 |    |              |
|                |               |          |   |    |              |
|                |               | Payables |   |    |              |
+----------------+---------------+----------+---+----+--------------+
| New Krung Thai |               | -   Sale | 2 | -  |              |
| Sugar Factory  |               |     of   | , |    |              |
| Co., Ltd.      |               |          | 9 | 3  |              |
|                |               | chemical | 4 | 02 |              |
|                |               |     and  | 7 |    |              |
|                |               |          |   |    |              |
|                |               |  machine | 3 |    |              |
|                |               |     part | , |    |              |
|                |               |          | 1 |    |              |
|                |               | -        | 5 |    |              |
|                |               |    Other | 3 |    |              |
|                |               |          |   |    |              |
|                |               | Payables |   |    |              |
|                |               |     from |   |    |              |
|                |               |     pu   |   |    |              |
|                |               | rchasing |   |    |              |
|                |               |          |   |    |              |
|                |               |   assets |   |    |              |
+----------------+---------------+----------+---+----+--------------+

10.1.2 Rental fee (for the year ended 31 October 2011 and 2010)

  ------------- -------------- --------------------- ----------- ------- ------------------
  Lessor        Lessee         Significant           Amount              Necessity and
                               transaction           (Thousand           reasonableness of
                                                     Baht)               Connected
                                                                         Transaction

                                                     31 OCT 11   31 OCT  
                                                                 10      

  Khon Kaen     On Nuj         Office rental area of 507         486     The Company has
  Sugar         Construction   202.84 square meters                      rent out office
  Industry      Co., Ltd.      and car park at the                       space to its
  Public                       rate of Baht 250 and                      companies group
  Company                      200 per square meter                      due to locate
  Limited                      per month                                 office centrally
                               respectively and are                      and conveniently.
                               allowed to be renewed                     Rental fees were
                               annually                                  carried out at
                               (01/09/11-31/08/12,                       market prices on
                               01/09/10-31/08/11)                        normal trade and
                                                                         agreement
                                                                         commencement date.
                                                                         Office rental and
                                                                         asset rental
                                                                         condition were set
                                                                         mainly concern
                                                                         about benefit to
                                                                         the company.

                Chengteh       Office rental area of 1,451       1,440   
                Chinaware      495.54 square meters                      
                (Thailand)     and car park at the                       
                Co., Ltd.      rate of Baht 242 per                      
                               square meter per                          
                               month and are allowed                     
                               to be renewed                             
                               annually                                  
                               (01/01/11-31/12/11)                       

                K.S.L. IT      Office rental area of 367         360     
                Center Co.,    202.84 square meters                      
                Ltd.           and car park at the                       
                               rate of Baht 200 per                      
                               square meter per                          
                               month and are allowed                     
                               to be renewed                             
                               annually                                  
                               (01/03/11-29/02/12)                       

                Amarco Co.,    Land rental area of   22          21      
                Ltd.           536 square meters at                      
                               the rate of Baht                          
                               1,650 per square                          
                               meter per month for                       
                               the period of 20                          
                               years                                     
                               (01/02/04-31/01/24)                       
                               with rental rate will                     
                               be raised 10% every 3                     
                               years.                                    

                K.K. Wood      Land rental area of   88          82      
                Industry Co.,  1,728 square wah at                       
                Ltd.           the rate of Baht                          
                               90,200 and 82,000 per                     
                               annum respectively                        
                               and are allowed to be                     
                               renewed every 3 years                     
                               (15/01/11-14/01/14)                       
                               with rental rate will                     
                               be raised 10% every 3                     
                               years.                                    
  ------------- -------------- --------------------- ----------- ------- ------------------

  -------------- ------------- --------------------- ----------- ------ ------------------
  Lessor         Lessee        Significant           Amount             Necessity and
                               transaction           (Thousand          reasonableness of
                                                     Baht)              Connected
                                                                        Transaction

                                                     31 OCT 11   31 OCT 
                                                                 10     

  Tamaka Sugar   K.S.L. Export Office rental area of 108         108    The Company has
  Industry Co.,  Trading Co.,  30.00 square meters                      rent out office
  Ltd.           Ltd.          with furniture at the                    space to its
                               rate of Baht 300 per                     companies group
                               square meters per                        due to locate
                               month and is allowed                     office centrally
                               to be renewed                            and conveniently.
                               annually                                 Rental fees were
                               (01/09/11-31/08/12,                      carried out at
                               01/09/10-31/08/11)                       market prices on
                                                                        normal trade and
                                                                        agreement
                                                                        commencement date.
                                                                        Office rental and
                                                                        asset rental
                                                                        condition were set
                                                                        mainly concern
                                                                        about benefit to
                                                                        the company.

  Champion       Tamaka Sugar  Land rental area of   135         135    Land leasing is
  Fermentation   Industry Co., 270 rai at the rate                      for a plot of
  Co., Ltd.      Ltd.          of Baht 500 per rai                      experimental sugar
                               and is allowed to be                     cane plantation
                               renewed every 3 years                    and sugar cane
                               (04/08/09-03/08/12)                      research. Rental
                                                                        fees were charged
                                                                        at market prices.

  K.S.L. Real    Tamaka Sugar  Office rental area of 120         120    The Company has
  Estate Co.,    Industry Co., 55.19 square meters                      rent out office
  Ltd.           Ltd.          at the rate of Baht                      space to its
                               250 and 200 per                          companies group
                               square meter per                         due to locate
                               month respectively                       office centrally
                               and are allowed to be                    and conveniently.
                               renewed every 3 years                    Rental fees were
                               (01/07/11-30/06/14,                      carried out at
                               01/07/08-31/06/11)                       market prices on
                                                                        normal trade and
                                                                        agreement
                                                                        commencement date.
                                                                        Office rental and
                                                                        asset rental
                                                                        condition were set
                                                                        mainly concern
                                                                        about benefit to
                                                                        the company.
  -------------- ------------- --------------------- ----------- ------ ------------------

10.1.3 Borrowings from/ Loans to related parties (for the year ended 31
October 2011 and 2010)

+----------+----------+---+----+-----+---+---+-----------------------+
| For the  |          |   |    |     |   |   |                       |
| year     |          |   |    |     |   |   |                       |
| ended 31 |          |   |    |     |   |   |                       |
| October  |          |   |    |     |   |   |                       |
| 2011     |          |   |    |     |   |   |                       |
+----------+----------+---+----+-----+---+---+-----------------------+
| Borrower | Lender   | A | Lo | Rep | A | I | Necessity and         |
|          |          | s | an | aym | s | n | reasonableness of     |
|          |          | a | ad | ent | a | t | Connected Transaction |
|          |          | t | di | dur | t | e |                       |
|          |          |   | ti | ing |   | r |                       |
|          |          | 1 | on | the | 3 | e |                       |
|          |          | N | du | per | 1 | s |                       |
|          |          | o | ri | iod | O | t |                       |
|          |          | v | ng |     | c | p |                       |
|          |          | 2 | t  |     | t | a |                       |
|          |          | 0 | he |     | 2 | i |                       |
|          |          | 1 | pe |     | 0 | d |                       |
|          |          | 0 | ri |     | 1 |   |                       |
|          |          |   | od |     | 1 |   |                       |
+----------+----------+---+----+-----+---+---+-----------------------+
| Prachaup | K.S.L.   | - | 2  | (21 | - | 8 | The loan was provided |
| Industry | Export   |   | 11 | 1,4 |   | 8 | as financial          |
| Co.,     | Trading  |   | ,4 | 04) |   | 8 | supporting through    |
| Ltd.     | Co.,     |   | 04 |     |   |   | K.S.L. Export Trading |
|          | Ltd.     |   |    |     |   |   | Co., Ltd. which was   |
|          |          |   |    |     |   |   | registered according  |
|          |          |   |    |     |   |   | to the laws and       |
|          |          |   |    |     |   |   | regulations of sugar  |
|          |          |   |    |     |   |   | exporting. The credit |
|          |          |   |    |     |   |   | line from financial   |
|          |          |   |    |     |   |   | institution was       |
|          |          |   |    |     |   |   | defined and borrowed  |
|          |          |   |    |     |   |   | by K.S.L. Export      |
|          |          |   |    |     |   |   | Trading Co., Ltd.     |
|          |          |   |    |     |   |   | Then, K.S.L. Export   |
|          |          |   |    |     |   |   | Trading Co., Ltd.     |
|          |          |   |    |     |   |   | lent to sugar         |
|          |          |   |    |     |   |   | factories. Therefore, |
|          |          |   |    |     |   |   | K.S.L. Export Trading |
|          |          |   |    |     |   |   | Co., Ltd. represents  |
|          |          |   |    |     |   |   | an intermediary for   |
|          |          |   |    |     |   |   | credit line carried   |
|          |          |   |    |     |   |   | out. Prachaup         |
|          |          |   |    |     |   |   | Industry Co.,Ltd.     |
|          |          |   |    |     |   |   | pledged sugar         |
|          |          |   |    |     |   |   | exporting and         |
|          |          |   |    |     |   |   | promissory note as    |
|          |          |   |    |     |   |   | collaterals against   |
|          |          |   |    |     |   |   | credit facilities     |
|          |          |   |    |     |   |   | from K.S.L. Export    |
|          |          |   |    |     |   |   | Trading Co., Ltd. and |
|          |          |   |    |     |   |   | no fee is charged for |
|          |          |   |    |     |   |   | the inter-credit      |
|          |          |   |    |     |   |   | facility guarantee.   |
+----------+----------+---+----+-----+---+---+-----------------------+
| Khon     | K.S.L.   | 1 | -  | (   | 9 | 2 | The Company was       |
| Kaen     | Real     | 2 |    | 2,5 | , | 7 | obtained financial    |
| Sugar    | Estate   | , |    | 00) | 5 | 3 | support by K.S.L.     |
| Industry | Co.,     | 0 |    |     | 0 |   | Export Trading Co.,   |
| Public   | Ltd.     | 0 |    |     | 0 |   | Ltd. represented      |
| Company  |          | 0 |    |     |   |   | promissory note       |
| Limited  |          |   |    |     |   |   | payable on demand in  |
|          |          |   |    |     |   |   | amounting Baht 12     |
|          |          |   |    |     |   |   | million as working    |
|          |          |   |    |     |   |   | capital, carrying the |
|          |          |   |    |     |   |   | interest rate at 2.1% |
|          |          |   |    |     |   |   | per annum and the     |
|          |          |   |    |     |   |   | company shall pay the |
|          |          |   |    |     |   |   | interest at the ended |
|          |          |   |    |     |   |   | of month. Although    |
|          |          |   |    |     |   |   | said interest rate    |
|          |          |   |    |     |   |   | was lower than        |
|          |          |   |    |     |   |   | interest rate from    |
|          |          |   |    |     |   |   | commercial bank, it   |
|          |          |   |    |     |   |   | was higher than       |
|          |          |   |    |     |   |   | interest rate the     |
|          |          |   |    |     |   |   | company received form |
|          |          |   |    |     |   |   | cash deposit.         |
+----------+----------+---+----+-----+---+---+-----------------------+

+----------+----------+---+----+-----+---+---+------------------------+
| For the  |          |   |    |     |   |   |                        |
| year     |          |   |    |     |   |   |                        |
| ended 31 |          |   |    |     |   |   |                        |
| October  |          |   |    |     |   |   |                        |
| 2010     |          |   |    |     |   |   |                        |
+----------+----------+---+----+-----+---+---+------------------------+
| Borrower | Lender   | A | Lo | Rep | A | I | Necessity and          |
|          |          | s | an | aym | s | n | reasonableness of      |
|          |          | a | ad | ent | a | t | Connected Transaction  |
|          |          | t | di | dur | t | e |                        |
|          |          |   | ti | ing |   | r |                        |
|          |          | 1 | on | the | 3 | e |                        |
|          |          | N | du | per | 1 | s |                        |
|          |          | o | ri | iod | O | t |                        |
|          |          | v | ng |     | c | p |                        |
|          |          | 2 | t  |     | t | a |                        |
|          |          | 0 | he |     | 2 | i |                        |
|          |          | 0 | pe |     | 0 | d |                        |
|          |          | 9 | ri |     | 1 |   |                        |
|          |          |   | od |     | 0 |   |                        |
+----------+----------+---+----+-----+---+---+------------------------+
| Prachaup | K.S.L.   | 1 | 3  | (48 | - | 5 | The loan was provided  |
| Industry | Export   | 3 | 53 | 3,3 |   | , | as financial           |
| Co.,     | Trading  | 0 | ,0 | 71) |   | 4 | supporting through     |
| Ltd.     | Co.,     | , | 16 |     |   | 3 | K.S.L. Export Trading  |
|          | Ltd.     | 3 |    |     |   | 6 | Co., Ltd. which was    |
|          |          | 5 |    |     |   |   | registered according   |
|          |          | 5 |    |     |   |   | to the laws and        |
|          |          |   |    |     |   |   | regulations of sugar   |
|          |          |   |    |     |   |   | exporting. The credit  |
|          |          |   |    |     |   |   | line from financial    |
|          |          |   |    |     |   |   | institution was        |
|          |          |   |    |     |   |   | defined and borrowed   |
|          |          |   |    |     |   |   | by K.S.L. Export       |
|          |          |   |    |     |   |   | Trading Co., Ltd.      |
|          |          |   |    |     |   |   | Then, K.S.L. Export    |
|          |          |   |    |     |   |   | Trading Co., Ltd. lent |
|          |          |   |    |     |   |   | to sugar factories.    |
|          |          |   |    |     |   |   | Therefore, K.S.L.      |
|          |          |   |    |     |   |   | Export Trading Co.,    |
|          |          |   |    |     |   |   | Ltd. represents an     |
|          |          |   |    |     |   |   | intermediary for       |
|          |          |   |    |     |   |   | credit line carried    |
|          |          |   |    |     |   |   | out. Prachaup Industry |
|          |          |   |    |     |   |   | Co.,Ltd. pledged sugar |
|          |          |   |    |     |   |   | exporting and          |
|          |          |   |    |     |   |   | promissory note as     |
|          |          |   |    |     |   |   | collaterals against    |
|          |          |   |    |     |   |   | credit facilities from |
|          |          |   |    |     |   |   | K.S.L. Export Trading  |
|          |          |   |    |     |   |   | Co., Ltd. and no fee   |
|          |          |   |    |     |   |   | is charged for the     |
|          |          |   |    |     |   |   | inter-credit facility  |
|          |          |   |    |     |   |   | guarantee.             |
+----------+----------+---+----+-----+---+---+------------------------+
| Khon     | K.S.L.   | - | 12 | -   | 1 | 8 | The Company was        |
| Kaen     | Real     |   | ,0 |     | 2 |   | obtained financial     |
| Sugar    | Estate   |   | 00 |     | , |   | support by K.S.L.      |
| Industry | Co.,     |   |    |     | 0 |   | Export Trading Co.,    |
| Public   | Ltd.     |   |    |     | 0 |   | Ltd. represented       |
| Company  |          |   |    |     | 0 |   | promissory note        |
| Limited  |          |   |    |     |   |   | payable on demand in   |
|          |          |   |    |     |   |   | amounting Baht 12      |
|          |          |   |    |     |   |   | million as working     |
|          |          |   |    |     |   |   | capital, carrying the  |
|          |          |   |    |     |   |   | interest rate at 2.1%  |
|          |          |   |    |     |   |   | per annum and the      |
|          |          |   |    |     |   |   | company shall pay the  |
|          |          |   |    |     |   |   | interest at the ended  |
|          |          |   |    |     |   |   | of month. Although     |
|          |          |   |    |     |   |   | said interest rate was |
|          |          |   |    |     |   |   | lower than interest    |
|          |          |   |    |     |   |   | rate from commercial   |
|          |          |   |    |     |   |   | bank, it was higher    |
|          |          |   |    |     |   |   | than interest rate the |
|          |          |   |    |     |   |   | company received form  |
|          |          |   |    |     |   |   | cash deposit.          |
+----------+----------+---+----+-----+---+---+------------------------+

Policy on Future Related party transactions

The Audit Committee passed the resolution of related party transactions
as the followings:-

The Audit Committee has reviewed the related party transactions
described in the table above and given the view that it was in
accordance with normal business practice and carried out at market
price.

Policy on future related party transactions

1.  Normal Business Transactions

  Normal business transactions include transfer and transport services
  and warehouse rental from Thai Sugar Terminal Public Company Limited
  and sales and purchases of sugar between the company and the
  subsidiaries. These connected transactions will firstly be brought to
  the company’s consideration in respect of the company’s interests and
  be ensured that they will be carried out at market price.

2.  Rental Service Transactions

  Rental service transactions will be carried out at market price and
  the same rate given to third parties.

3.  Sales and Purchases of Assets and Investments

  Sales and purchases of assets and investments are an increase of
  capital in order to maintain the same shareholding proportion as
  previously held. It is also an investment for the current business
  expansion and the future business growth. The policy of sales and
  purchases of assets and investments will firstly be brought to the
  company’s consideration in respect of the company’s interests and the
  justification for entering into the transaction, the necessity and
  appropriateness of such transactions.

4.  Borrowings from/ Loan to persons having potential conflict of
    interest

  Borrowings from/ Loan to persons having potential conflict of interest
  will firstly be brought to the company’s consideration in respect of
  the justification for entering into the transaction, the necessity and
  appropriateness of such transactions.

5.  Other Related Transactions

  Other related transactions are transactions other than 1-4 stated
  above.

Related party transactions between the company and the subsidiaries and
the persons having potential conflict of interest, having a stake in or
possibly having a conflict of interest in the future shall be subject to
the opinion of the Audit Committee for their consideration in respect of
the justification for entering into the transaction, the necessity and
appropriateness of such transactions. In case the Audit Committee
considers it lack expertise required for the consideration of possible
transactions, it is empowered to recruit experts as needed. Experts, for
example, could be an auditor or an independent appraisement officer,
which is independent from both the company and persons having potential
conflict of interest. The opinion of these recruited experts will be
used in the decision-making of the Audit Committee and/or the Board of
Directors of the company and/or shareholders as the case may be.

The Board of Directors of the company ensures compliance with the laws
on securities and exchange, regulations, notifications, orders or any
requirements of the Stock Exchange of Thailand, including compliance
with regulations on the disclosure of information on connected
transactions and the acquisition or disposal of important assets of the
company or its subsidiaries, and compliance with the accounting
standards established by the Institute of Certified Accountants and
Auditors of Thailand.

Capital structure of individuals having potential conflict of interest
over 10%

Capital structure of individuals having potential conflict of interest
over 10% is as the followings:-

1.  K.S.L. Real Estate Co., Ltd.

  The individuals having potential conflict of interest own 14.90% of
  K.S.L. Real Estate Co., Ltd.’s shares. These shareholders intend to
  hold their shares for an indefinite period of time. The major business
  of K.S.L. Real Estate Co., Ltd. is for training and seminar center.
  Since K.S.L. Real Estate Co., Ltd. had loss from operations and its
  fair value of shares is less than par value; therefore, these
  individuals having potential conflict of interest have views not to
  dispose this shares proportion in the near future.

2.  Thai Sugar Terminal Public Company Limited (TSTE)

  The individuals having potential conflict of interest own 38.36% of
  the TSTE’s shares. Mr. Prapas Chutimavoraphand and his family invest
  in TSTE for its personal interest and do not relate to the company.
  The company owns 23.82% of the TSTE’s shares and has no policy to
  increase its capital proportion. Consequently, the company could not
  alter TSTE’s capital structure and has no policy forcing the directors
  of the company to sell their shares to the company. Moreover, the
  shareholders and directors have no intention to transfer their
  benefits to one of these two companies because the shareholding
  proportion in the company of most shareholders and directors is higher
  than their shareholding proportion in TSTE. In addition, Thai Sugar
  Terminal Public Company Limited has many directors from other sugar
  companies; thus, power balancing in TSTE is reasonable for both
  companies. To conclude, the related transactions between the company
  and TSTE are in line with the characteristics of normal trading in the
  market which will maximize highest value to both companies.

3.  Champion Fermentation Co., Ltd.

  The individuals having potential conflict of interest own 18.00% of
  Champion Fermentation Co., Ltd.’s shares. Other major shareholders are
  a group of Taiwanese businessman. Champion Fermentation Co., Ltd.,
  formerly, has no business transactions except land leasing. However,
  Champion Fermentation Co., Ltd. has invested in cassava starch
  industry which does not relate to sugar industry in the end of 2004.
  The purpose of investment is for dividend received in the future.

In conclusion, the shareholding structure of the company and the
subsidiaries, which is owned by the individuals having potential
conflict of interest over 10% in some companies, is the result from the
past. Currently, the company has an intention changing its structure in
order to minimize those conflicts. In addition, the company has the
policy to directly invest in subsidiaries and associates in the future.
Also, there will be the limitations in shareholding proportion for the
individuals having potential conflict of interest except it will be done
to maximize the company’s value. Furthermore, the persons having
potential conflict of interest will not make any investments in business
that may constitute the conflicts of interest to the company or in
competitive business to the company.