Attachment 3 Report of the Audit Committee

The Company’s Audit Committee appointed by the Board of Directors
consists of 3 Independent Directors having Mr. Kosol Chantikul as
Chairman of the Audit Committee, Mr. Nanthasit Leksrisakul (from the
Board of Directors Meeting No. 22/2011 on 17 October 2011) and Mr.
Viboon Chaisutyakorn (from the Board of Directors Meeting No. 23/2011 on
28 October 2011) as Audit Committee members. The 3 Audit Committee have
been appointed in replacement of Mr. Chokechai Tanpoonsinthana, Mr.
Vikit Kachonnarongvanich and Mr. Saravut Busayarat who had resigned. The
head of Compliance & Internal Audit Department acts as the Secretary to
the Audit Committee. Each Audit Committee member is not an advisor,
executive directors or employees of the Company and fully meets
qualifications specified by the SEC.

The Audit Committee has done their duties independently according to the
duties and authorities stated in its Charter with the cooperation from
all concerns. It also realizes the importance of having sound internal
control, risk management as well as good corporate governance so that
the Company will have good internal control and proper risk management
as well as accurate and reliable financial reporting.

In 2011, the Audit Committee arranged altogether 5 meetings. In
addition, the Audit Committee has arranged a meeting to review the
Company and its subsidiary’s financial statement with the independent
auditor and without any management attended in the meeting. The Audit
Committee’s performance is significantly summarized as follows:

1. Auditing of quarterly and yearly financial statement FY2011. The
Audit Committee has pre-audited the Company and its subsidiary’s
financial statements of the year 2011 before presenting to the Board of
Directors to ensure that the financial statements were done correctly
and in compliance with the generally accepted accounting standards and
the drafting and disclosing process of the financial report has done
completely, correctly and within the timeframe and the auditor’s
notifications have also been adopted so that both the auditor and the
Audit Committee agreed with the correctness and completeness of the
Company’s financial statements.

2. Auditing of good corporate governance. The Audit Committee has
reviewed the compliance policy and encouraged the Company to have good
and auditable corporate governance with adequate and transparent
disclosing in order to entrust the investors, regulators and
stakeholders. The Audit Committee viewed that the Company has maintained
good level of corporate governance and also encouraged all stakeholders
to cooperate which can contribute to mutual benefits.

3. Auditing of Internal Control and Risk Management System. The Audit
Committee has reviewed the effectiveness of the Company’s internal
control and risk management systems from the auditing report of the
Company as of the year 2011 and found out that the Company had improved
its internal control and risk management systems to be more appropriate
with the changing situations and more effective.

4. Compliance with Laws. The Audit Committee has reviewed the Company’s
compliance with the Securities and Exchange Act, SET’s rules, relevant
laws and regulations in the year 2011 and acknowledged the SEC’s
inspection result that the Company had some operations violating the
Securities and Exchange Act and the Audit Committee had commented the
Company which subsequently bringing about the improvement of its
operational system and practice to be sufficiently effective in order to
prevent the recurrence of such cases.

5. Nomination of Independent Auditor. The Audit Committee has carefully
selected and proposed to appoint the Company’s independent auditor based
on independency and also determined proper remunerations as well as
proposed the appointment of qualified CPA to be approved by the
Company’s Board of Directors in the Meeting No. 8/2011 held on 17 March,
2010 and Ernst & Young Office Limited has been proposed and approved in
the Annual General Shareholders’ Meeting to be the Company’s independent
auditor for the year 2011. After the sale and transfer of business to
UOBKH, the Extraordinary General Shareholders’ Meeting approved the
change of independent auditor FY 2011 to Deloitte Touche Tohmatsu Jaiyos
Audit Co., Ltd.

6. Auditing of Related Party Transactions which might have some conflict
of interest with the Company as well as its disclosure. The Audit
Committee found out that the related party transactions were under the
Company’s normal business and with normal commercial terms which were
appropriate and contributed to the best interest of the Company. Its
disclosing was also done correctly and completely in compliance to
related regulations.

7. Internal control governance. The Audit Committee has reviewed the
auditing plan FY2011 based on the realization of the possible risk which
might have adverse effect on the Company’s financial statement and
operations including other aspects which may affect the operation of the
Company. Reports on the Compliance & Internal Audit Dept.’s auditing
results done monthly were presented to the Audit Committee for
consideration in order to propose possible resolution to improve the
weaknesses of the internal control system as well as report on the
progress of the corrections.

In conclusion, the Audit Committee has carried out duties in compliance
to its Charter and opined that the draft and disclosusre of the
Company’s financial statement was correct and reliable. The Company has
complied to the rules and regulations set by regulators with appropriate
risk management and effective and sufficient internal control system and
there was no significant error which might have impact on the Company’s
financial status and has already reported the result to the Board of
Directors.

[] The Audit Committee

_________________________ _________________________
_________________________

(Mr. Kosol Chantikul ) (Mr. Nanthasit Leksrisakul) (Mr. Viboon
Chaisutyakorn )

Chairman of the Audit Committee Audit Committee Member Audit Committee
Member