8. Capital Structure

8.1 Capital

As at December 31, 2001, the Company has baht 200,000,000 (Two hundred
million Baht) of authorized share capital consisting of 20,000,000
common shares (Twenty million shares) with par value of baht 10 each
while having the issued and paid-up capital of baht 139,000,000 (One
hundred thirty-nine million baht) consisting of 13,900,000 shares
(Thirteen million and nine hundred thousand shares) fully paid.

2.  Shareholders

Details of shareholders holding more than 10% of authorized paid-up
share capital as at April 10, 2001 are as follows:

+----------------------------------+---------+----------+-------------+
| Major Shareholders               | No. of  | % of     | Type of     |
|                                  | Shares  | Share    | Business    |
|                                  |         | Capital  |             |
+----------------------------------+---------+----------+-------------+
| 1.  N.S. Alliance Company        | 3,      | 28.75%   | Holding     |
|     Limited                      | 996,710 |          | Company     |
+----------------------------------+---------+----------+-------------+
| 2.  HIH Overseas Holdings        | 3,      | 24.46%   | Holding     |
|     Limited                      | 400,000 |          | Company     |
+----------------------------------+---------+----------+-------------+
| 3.  Pokkim Company Limited       | 2,      | 17.25%   | Holding     |
|                                  | 398,027 |          | Company     |
+----------------------------------+---------+----------+-------------+
| 4 The Industrial Finance         | 2,      | 14.78%   | Promote &   |
| Corporation of Thailand          | 054,563 |          | Assist      |
|                                  |         |          | Private     |
|                                  |         |          | Industrial  |
|                                  |         |          | Enterprise  |
|                                  |         |          | (Under      |
|                                  |         |          | Special     |
|                                  |         |          | Industrial  |
|                                  |         |          | Finance     |
|                                  |         |          | Act)        |
+----------------------------------+---------+----------+-------------+
|                                  |         |          |             |
+----------------------------------+---------+----------+-------------+
|                                  |         |          |             |
+----------------------------------+---------+----------+-------------+
| 5.  Bankthai Bank Public Company | 430,800 | 3.10%    | Financial   |
|     Limited                      |         |          | institution |
+----------------------------------+---------+----------+-------------+
| 6.  Bangkok Metropolitan Bank    | 249,600 | 1.80%    | Financial   |
|     Public Company Limited       |         |          | institution |
+----------------------------------+---------+----------+-------------+
| 7.  Mrs. Valee Jaroenchaipong    | 207,490 | 1.49%    |             |
+----------------------------------+---------+----------+-------------+
| 8.  Mrs. Kanjana Chernrongroj    | 98,930  | 0.71%    |             |
+----------------------------------+---------+----------+-------------+
| 9.  Miss Sumalee Jaroenchaipong  | 80,660  | 0.58%    |             |
+----------------------------------+---------+----------+-------------+
| 10. Mr. Dhani Jaroenchaiyapongs  | 75,490  | 0.54%    |             |
+----------------------------------+---------+----------+-------------+
| Total                            | 12,     | 93.46%   |             |
|                                  | 992,270 |          |             |
+----------------------------------+---------+----------+-------------+

8.3 Dividend Policy

Generally the pay-out ratio is 60% of net profit. The dividend payment
for 2001 will be finally considered by the general meeting of the
shareholders.