11. Inter-Transaction between the Related Companies

In 2007, the Company and its subsidiaries had the following accounting
transactions present among related parties in which the same
shareholders/directors involved:

1.  The transaction between the Company & its subsidiaries and Thai
    Fermentation Co., Ltd.: The main transactions shown in the financial
    statements are:

    1.  Incomes from selling white and refined sugar at THB 12.20
        million and selling molasses at THB 142.13 million to Thai
        Fermentation Co., Ltd. KSL Chemical (subsidiary), chemical
        trading business, sell resins in the amount of THB 1.15 million.

    2.  Advance payment made by Thai Fermentation Co., Ltd. to the
        Company and its subsidiaries for molasses purchase amounted to
        THB 41.08 million.

    3.  Trade accounts and Notes Receivable by Thai Fermentation Co.,Ltd
        THB 0.42 million.

    4.  Purchasing hydrochloric acid and sodium hydroxide for cleaning
        machinery in sugar mill THB 2.78 million

    5.  Purchasing drinking water from Thai Fermentation Co.,Ltd THB
        0.11 million.

  Thai Fermentation Co., Ltd. is a related company, which is a joint
  venture between the Company’s major shareholders and a Taiwanese firm.
  It manufactures MSG from molasses and/or cassava starch. The prices of
  the two raw materials determine their usage in the manufacturing. The
  Company sells molasses to Thai Fermentation Co., Ltd. at the same
  prices as it does to outsiders. This may be seen from the Advance
  payment. Thai Fermentation Co., Ltd. is a joint venture where the
  number of shares held by the Company’s major shareholders is smaller
  than those of the Company held by major shareholders. Therefore, it is
  not reasonable for the major shareholders to determine unfair prices
  for the benefit of Thai Fermentation Co., Ltd. The Company’s white and
  refined sugar is sold to Thai Fermentation Co., Ltd. at prices
  controlled by the government that correspond to market prices and
  terms. The sugar is purchased for distributing along with Thai
  Fermentation Co.,Ltd’s goods as complimentary product. The Company’s
  purchases of hydrochloric acid and sodium hydroxide for its sugar
  mills’ machinery washes are normal business transactions.

  The Audit Committee agreed that such transactions benefited the
  Company. The molasses and sugar customer base expanded. The advanced
  payment benefited the Company’s financial cash flow (according to
  advanced payment) and burden for inventory cost. The transactions of
  hydrochloric acid, sodium hydroxide and drinking water were considered
  as the Company’s normal business corresponding to market principle.

2.  Related transactions between Prachaup Industry Co., Ltd. and the
    company’s subsidiaries ( KSL Export Trading Co., Ltd.) The main
    transactions shown in the financial statements are:

    1.  KSL Export Trading Co., Ltd. (subsidiary) provided an short-term
        loan during the period for Prachaup Industry Co., Ltd. amounting
        to THB 717.18 million and Prachaup paid back during the period
        amounting to THB 774.767 million.

  Thailand’s sugar export regulation requires that sugar export be done
  through export agents, providing export related services including
  short-term loan financing to members. The KSL Group, hence,
  established KSL Export Trading Co., Ltd. for its own export activities
  with 4 sugar mills of the Company and its subsidiaries, and Prachaup
  Industry Co., Ltd. as members. Providing short-term loans during the
  period, amounting to THB 717.18 million, as a packing credit, is the
  loan of KSL Export Trading Co.,Ltd. from the bank to Prachaup Industry
  Co.,Ltd. This is a normal business of sugar export agent. The purpose
  of this short term loans is to provide a working capital to members by
  securing with the members’ sugar. As of October 2007, Prachaup
  Industry Co.,Ltd. have the loan outstanding at THB 95.58 million, THB
  29.08 million as working capital and THB 66.50 million as a loan (with
  the principal on 1998 at THB 93.28 million) due for repayment by 2015
  and creditors withhold the right to change the period of payment
  annually.

  The Company’s major shareholders do not hold any shares of Prachaup
  Industry Co., Ltd. 21.68 percent of the shares of KSL Export Trading
  Co., Ltd. is held by Prachaup Industry Co., Ltd. 9.04 percent of the
  shares of Thai Sugar Terminal Public Company Limited is held by
  Prachaup Industry Co., Ltd.

  The Audit Committee audited the transactions and agreed that an
  short-term loan during the period and rent and service transaction
  were normal business of export agents and a port operator. The
  transactions were approved.

3.  Related transactions between KSL Real Estate Co., Ltd. and Khon Kaen
    Sugar Industry Public Company Limited: The main transactions shown
    in the financial statements are:

    1.  Khon Kaen Sugar Industry Public Company Limited provided
        short-term loans for KSL Real Estate Co., Ltd. (subsidiary)
        amounting to THB 13.60 million.

  Khon Kaen Sugar Industry Public Company Limited holds 80.31 percent of
  the shares of KSL Real Estate Co., Ltd. KSL Real Estate Co.,Ltd has
  borrowed the loan in the amount of THB 13.6 million since 2006. During
  the year of 2007, there is no additional loan. At year end, October
  31, 2007, KSL Real Estate Co., Ltd. has the amount outstanding loan of
  THB 13.6 million. This loans were used for building seminar rooms and
  additional rooms to accommodate the KSL Group’s training. Part of them
  was also used as working capital. The Company gave the financial
  support at the percentage of the amount which Real Estate Co.,Ltd
  asked for, which is in line with the percentage of its shares held by
  the Company.

  The Audit Committee audited and approved the transaction in 2006, as
  it was investment to facilitate the KSL Group’s training which is part
  of corporate improvement and growth. The Company calculates the
  interest rate at the market rate.

4.  Other Related transactions between Thai Sugar Terminal Public
    Company Limited and other related companiew.

    1.  Trade Accounts and Notes Receivable with other related companies
        THB 1.378 million.

    2.  TS Transport and Logistics Co.,Ltd got the loan from Thai Sugar
        Terminal Public Company Limited THB 1 million and paid back
        during the period THB 1 million. At year end, there is no
        balance.

    3.  Other revenues between Prachaup Industry Co.,Ltd, Mitr Kaset
        Sugar Industry Co.,Ltd., Eastern Sugar and Sugar Cane Co.,Ltd.,
        Rajburi Sugar Co.,Ltd. with Thai Sugar Terminal Public Co.,Ltd.
        in the amount of THB 8.55 million, THB 0.82 million, THB 0.30
        million, THB 2.29 million, and other expenses to Rajburi Sugar
        Co.,Ltd. THB 0.18 million.

  Thai Sugar Terminal Public Company Limited (TSTE) is the Company’s
  subsidiary and a listed company in Stock Exchange of Thailand. It
  engages in port and warehouse services. Most of its customers are the
  sugar mills which each of them is also TSTE’s shareholder, resulting
  in related-party transactions. The Company’s transactions are normal
  business transactions governed by the SET’s legislation and TSTE audit
  committee.

  The Audit Committee agreed that such transactions were under the
  subsidiary’s audit committee review and audit according to the Stock
  Exchange of Thailand’s legislation.

5.  Other Related transactions under normal business.

  5.1 Other expenses to KSL IT Center Co.,Ltd. which was established
  without aiming for profit to provide the Group with information
  technology services. The Company’s expenses of services and software
  in 2007 totaled THB 7.08 million.

  5.2 Other expenses to KSL Tower Juristic Person Office: The total of
  THB 8.33 million was expense of providing operation and maintenance of
  KSL Tower Building where Khon Kaen Sugar Industry Public Company
  Limited and its subsidiary own most part of the building.

  5.3 Storage and Export service fees: The total of THB 6.62 million was
  paid to Kerry Siam Seaport Ltd. operating a deep sea port in Cholburi
  Province. To save its time, cost and transportation, the company
  exports some of its sugar through this port.

  The Audit Committee agreed that such transactions were normal business
  transactions. The business transactions, hence, were approved.

6.  Other non-significant transactions

  6.1 The revenues from other related companies amounted to 81,401.40
  THB, mostly was sugar domestic selling with the selling price,
  controlled by government. The purpose is to give to the customers and
  company employees.

  6.2 Other revenues from Thai Fermentation Co.,Ltd, Onnuj Construction
  Co.,Ltd., Chengteh Chinaware (Thailand) Co.,Ltd., K.K. Wood Industry
  Co.,Ltd., K.S.L IT Center Co.,Ltd, Amarco Co.,Ltd., in the amount of
  THB 0.24 million, THB 0.49 million, THB 1.45 million, THB 1.74
  million, THB 0.36 million, THB 0.33 million. These transactions mostly
  involved the office rental and parking fee of KSL Tower, the rental of
  warehouse, and buying some supplies, which are under normal business
  of the company.

Other related transactions are shown in the Financial Statements as
follows:

1.  Inter-Assets and Liabilities

  (Unit : Baht)

+--------------------------+-------+------+-------+---+--------+------+
| Type of                  | Re    | Cons |       |   | Se     |      |
| Transaction/Company Name | latio | olid |       |   | parate |      |
|                          | nship | ated |       |   |        |      |
|                          |       |      |       |   | fin    |      |
|                          |       | f    |       |   | ancial |      |
|                          |       | inan |       |   | stat   |      |
|                          |       | cial |       |   | ements |      |
|                          |       | st   |       |   |        |      |
|                          |       | atem |       |   |        |      |
|                          |       | ents |       |   |        |      |
+--------------------------+-------+------+-------+---+--------+------+
|                          |       | As   |       |   | As at  |      |
|                          |       | at   |       |   | O      |      |
|                          |       | Oct  |       |   | ctober |      |
|                          |       | ober |       |   | 31,    |      |
|                          |       | 31,  |       |   |        |      |
+--------------------------+-------+------+-------+---+--------+------+
|                          |       | 2007 | 2006  |   | 2007   | 2006 |
+--------------------------+-------+------+-------+---+--------+------+
| - Trade Accounts and     |       |      |       |   |        |      |
| Notes Receivable         |       |      |       |   |        |      |
+--------------------------+-------+------+-------+---+--------+------+
|   Koh Kong Plantation    | Subsi | -    | -     |   | 8,     | -    |
|   Co., Ltd.              | diary |      |       |   | 500.01 |      |
+--------------------------+-------+------+-------+---+--------+------+
|   Prachaup Industry      | Re    | -    | 548,9 |   | -      | -    |
|   Co.,Ltd.               | lated |      | 73.18 |   |        |      |
+--------------------------+-------+------+-------+---+--------+------+
|   Thai Fermentation      | Re    | 41   | 208,6 |   | -      | -    |
|   Industry Co., Ltd.     | lated | 7,30 | 50.00 |   |        |      |
|                          |       | 0.00 |       |   |        |      |
+--------------------------+-------+------+-------+---+--------+------+
|   Other Related          |       | 1,37 | 176,2 |   | -      | -    |
|   Companies              |       | 8,12 | 74.59 |   |        |      |
|                          |       | 4.90 |       |   |        |      |
+--------------------------+-------+------+-------+---+--------+------+
|   Total                  |       | 1,79 | 933,8 |   | 8,     | -    |
|                          |       | 5,42 | 97.77 |   | 500.01 |      |
|                          |       | 4.90 |       |   |        |      |
+--------------------------+-------+------+-------+---+--------+------+
|                          |       |      |       |   |        |      |
+--------------------------+-------+------+-------+---+--------+------+
| - Other Accounts         |       |      |       |   |        |      |
| Receivable               |       |      |       |   |        |      |
+--------------------------+-------+------+-------+---+--------+------+
|   Tamaka Sugar Industry  | Subsi | -    | -     |   | 1,526, | -    |
|   Co., Ltd.              | diary |      |       |   | 943.50 |      |
+--------------------------+-------+------+-------+---+--------+------+
|   New Krung Thai Sugar   | Subsi | -    | -     |   | 963.00 | -    |
|   Factory Co., Ltd.      | diary |      |       |   |        |      |
+--------------------------+-------+------+-------+---+--------+------+
|   New Kwang Soon Lee     | Subsi | -    | -     |   | 642.00 | -    |
|   Sugar Factory Co.,     | diary |      |       |   |        |      |
|   Ltd.                   |       |      |       |   |        |      |
+--------------------------+-------+------+-------+---+--------+------+
|   Khon Kaen Alcohol Co., | Subsi | -    | -     |   | 664,   | -    |
|   Ltd.                   | diary |      |       |   | 500.69 |      |
+--------------------------+-------+------+-------+---+--------+------+
|   Khon Kaen Sugar Power  | Subsi | -    | -     |   | 2      | -    |
|   Plant Co., Ltd.        | diary |      |       |   | 9,792, |      |
|                          |       |      |       |   | 108.05 |      |
+--------------------------+-------+------+-------+---+--------+------+
|   Thai Sugar Terminal    | Subsi | -    | -     |   | 36,    | -    |
|   Public Company Limited | diary |      |       |   | 312.40 |      |
+--------------------------+-------+------+-------+---+--------+------+
|   Savannakhet Sugar      | Subsi | -    | -     |   | 45,    | -    |
|   Corporation            | diary |      |       |   | 680.00 |      |
+--------------------------+-------+------+-------+---+--------+------+
|   Koh Kong Plantation    | Subsi | -    | -     |   | 12,    | -    |
|   Co., Ltd.              | diary |      |       |   | 840.00 |      |
+--------------------------+-------+------+-------+---+--------+------+
|   K. K. Wood Industry    | Re    | 23   | -     |   | 232,   | -    |
|   Co., Ltd.              | lated | 2,67 |       |   | 677.94 |      |
|                          |       | 7.94 |       |   |        |      |
+--------------------------+-------+------+-------+---+--------+------+
|   Total                  |       | 23   | -     |   | 3      | -    |
|                          |       | 2,67 |       |   | 2,312, |      |
|                          |       | 7.94 |       |   | 667.58 |      |
+--------------------------+-------+------+-------+---+--------+------+
|                          |       |      |       |   |        |      |
+--------------------------+-------+------+-------+---+--------+------+
| - Accrued Dividend       |       |      |       |   |        |      |
| Received                 |       |      |       |   |        |      |
+--------------------------+-------+------+-------+---+--------+------+
|   Tamaka Sugar Industry  | Subsi | -    | -     |   | 9      | -    |
|   Co., Ltd.              | diary |      |       |   | 4,725, |      |
|                          |       |      |       |   | 300.25 |      |
+--------------------------+-------+------+-------+---+--------+------+
|   New Krung Thai Sugar   | Subsi | -    | -     |   | 4      | -    |
|   Factory Co., Ltd.      | diary |      |       |   | 9,174, |      |
|                          |       |      |       |   | 551.00 |      |
+--------------------------+-------+------+-------+---+--------+------+
|   Total                  |       | -    | -     |   | 14     | -    |
|                          |       |      |       |   | 3,899, |      |
|                          |       |      |       |   | 851.25 |      |
+--------------------------+-------+------+-------+---+--------+------+
|                          |       |      |       |   |        |      |
+--------------------------+-------+------+-------+---+--------+------+
| - Cash Advance for Sugar |       |      |       |   |        |      |
+--------------------------+-------+------+-------+---+--------+------+
|   K.S.L. Export Trading  | Subsi | -    | -     |   | 818,   | 2,12 |
|   Co., Ltd.              | diary |      |       |   | 238.33 | 4,77 |
|                          |       |      |       |   |        | 3.69 |
+--------------------------+-------+------+-------+---+--------+------+
|                          |       |      |       |   |        |      |
+--------------------------+-------+------+-------+---+--------+------+
| - Advance                |       |      |       |   |        |      |
+--------------------------+-------+------+-------+---+--------+------+
|   Koh Kong Plantation    | Subsi | -    | -     |   | 1,767, | -    |
|   Co., Ltd.              | diary |      |       |   | 455.69 |      |
+--------------------------+-------+------+-------+---+--------+------+
|   The Company and        | Re    | -    | 14,   |   | -      | 1    |
|   subsidiary company’s   | lated |      | 285,6 |   |        | 3,17 |
|   Management             | Pe    |      | 82.14 |   |        | 3,10 |
|                          | rsons |      |       |   |        | 5.14 |
+--------------------------+-------+------+-------+---+--------+------+
|   Total                  |       | -    | 14,   |   | 1,767, | 1    |
|                          |       |      | 285,6 |   | 455.69 | 3,17 |
|                          |       |      | 82.14 |   |        | 3,10 |
|                          |       |      |       |   |        | 5.14 |
+--------------------------+-------+------+-------+---+--------+------+
|                          |       |      |       |   |        |      |
+--------------------------+-------+------+-------+---+--------+------+
| - Share Subscription     |       |      |       |   |        |      |
| Receivable               |       |      |       |   |        |      |
+--------------------------+-------+------+-------+---+--------+------+
|   Ban Pong Intertrade    | Re    | -    | 12,   |   | -      | -    |
|   Co., Ltd.              | lated |      | 841,6 |   |        |      |
|                          |       |      | 75.00 |   |        |      |
+--------------------------+-------+------+-------+---+--------+------+
|                          |       |      |       |   |        |      |
+--------------------------+-------+------+-------+---+--------+------+
|   - Other Account        |       |      |       |   |        |      |
|   Payable                |       |      |       |   |        |      |
+--------------------------+-------+------+-------+---+--------+------+
|   Khon Kaen Alcohol Co., | Subsi | -    | -     |   | 2,141, | -    |
|   Ltd.                   | diary |      |       |   | 560.00 |      |
+--------------------------+-------+------+-------+---+--------+------+
|                          |       |      |       |   |        |      |
+--------------------------+-------+------+-------+---+--------+------+
| - Advance Received from  |       |      |       |   |        |      |
| Customers for Goods      |       |      |       |   |        |      |
+--------------------------+-------+------+-------+---+--------+------+
|   Khon Kaen Alcohol Co., | Subsi | -    | -     |   | 2      | -    |
|   Ltd.                   | diary |      |       |   | 0,436, |      |
|                          |       |      |       |   | 320.80 |      |
+--------------------------+-------+------+-------+---+--------+------+
|   Thai Fermentation      | Re    | 4    | 95,   |   | 3,725, | -    |
|   Industry Co., Ltd.     | lated | 1,08 | 345,4 |   | 132.40 |      |
|                          |       | 3,36 | 96.00 |   |        |      |
|                          |       | 7.60 |       |   |        |      |
+--------------------------+-------+------+-------+---+--------+------+
|   Total                  |       | 4    | 95,   |   | 2      | -    |
|                          |       | 1,08 | 345,4 |   | 4,161, |      |
|                          |       | 3,36 | 96.00 |   | 453.20 |      |
|                          |       | 7.60 |       |   |        |      |
+--------------------------+-------+------+-------+---+--------+------+

  (Unit : Baht)

+-------------------------+-------+------+--------+---+--------+-------+
| Type of                 | Re    | Cons |        |   | Se     |       |
| Transaction/Company     | latio | olid |        |   | parate |       |
| Name                    | nship | ated |        |   | fin    |       |
|                         |       | f    |        |   | ancial |       |
|                         |       | inan |        |   | stat   |       |
|                         |       | cial |        |   | ements |       |
|                         |       | st   |        |   |        |       |
|                         |       | atem |        |   |        |       |
|                         |       | ents |        |   |        |       |
+-------------------------+-------+------+--------+---+--------+-------+
|                         |       | As   |        |   | As at  |       |
|                         |       | at   |        |   | O      |       |
|                         |       | Oct  |        |   | ctober |       |
|                         |       | ober |        |   | 31,    |       |
|                         |       | 31,  |        |   |        |       |
+-------------------------+-------+------+--------+---+--------+-------+
|                         |       | 2007 | 2006   |   | 2007   | 2006  |
+-------------------------+-------+------+--------+---+--------+-------+
|   - Trade Accounts and  |       |      |        |   |        |       |
|   Notes Payable         |       |      |        |   |        |       |
+-------------------------+-------+------+--------+---+--------+-------+
|   Tamaka Sugar Industry | Subsi | -    | -      |   | 1      | 28,   |
|   Co., Ltd.             | diary |      |        |   | 3,043, | 838,3 |
|                         |       |      |        |   | 180.89 | 19.00 |
+-------------------------+-------+------+--------+---+--------+-------+
|   New Krung Thai Sugar  | Subsi | -    | -      |   | 1      | 15,   |
|   Factory Co., Ltd.     | diary |      |        |   | 9,869, | 274,9 |
|                         |       |      |        |   | 103.22 | 96.86 |
+-------------------------+-------+------+--------+---+--------+-------+
|   New Kwang Soon Lee    | Subsi | -    | -      |   | 1,207, | 2,    |
|   Sugar Factory Co.,    | diary |      |        |   | 816.00 | 530,2 |
|   Ltd.                  |       |      |        |   |        | 82.50 |
+-------------------------+-------+------+--------+---+--------+-------+
|   Khon Kaen Sugar Power | Subsi | -    | -      |   | 1      | -     |
|   Plant Co., Ltd.       | diary |      |        |   | 2,858, |       |
|                         |       |      |        |   | 044.84 |       |
+-------------------------+-------+------+--------+---+--------+-------+
|   Khon Kaen Alcohol     | Subsi | -    | -      |   | -      | 981,4 |
|   Co., Ltd.             | diary |      |        |   |        | 08.00 |
+-------------------------+-------+------+--------+---+--------+-------+
|   Thai Sugar Terminal   | Subsi | -    | -      |   | -      | 134,2 |
|   Public Company        | diary |      |        |   |        | 12.71 |
|   Limited               |       |      |        |   |        |       |
+-------------------------+-------+------+--------+---+--------+-------+
|   Other Related         |       | 8    | -      |   | -      | -     |
|   Companies             |       | 5,60 |        |   |        |       |
|                         |       | 1.99 |        |   |        |       |
+-------------------------+-------+------+--------+---+--------+-------+
|   Total                 |       | 8    | -      |   | 4      | 47,   |
|                         |       | 5,60 |        |   | 6,978, | 759,2 |
|                         |       | 1.99 |        |   | 144.95 | 19.07 |
+-------------------------+-------+------+--------+---+--------+-------+

  Advance made to the management of the Company and its subsidiary
  companies was cash reserve for expenses to be incurred in the
  investment project under Koh Kong Plantation Co., Ltd.

(Unit : Baht)

+------------------------+-------+-------+-------+---+---------+------+
| Type of                | Re    | Co    |       |   | S       |      |
| Transaction/Company    | latio | nsoli |       |   | eparate |      |
| Name                   | nship | dated |       |   | fi      |      |
|                        |       | fina  |       |   | nancial |      |
|                        |       | ncial |       |   | sta     |      |
|                        |       | state |       |   | tements |      |
|                        |       | ments |       |   |         |      |
+------------------------+-------+-------+-------+---+---------+------+
|                        |       | As at |       |   | As at   |      |
|                        |       | Oc    |       |   | October |      |
|                        |       | tober |       |   | 31,     |      |
|                        |       | 31,   |       |   |         |      |
+------------------------+-------+-------+-------+---+---------+------+
|                        |       | 2007  | 2006  |   | 2007    | 2006 |
+------------------------+-------+-------+-------+---+---------+------+
| - Short-Term Loans due |       |       |       |   |         |      |
| from                   |       |       |       |   |         |      |
+------------------------+-------+-------+-------+---+---------+------+
|   Tamaka Sugar         | Subsi |       |       |   |         |      |
|   Industry Co., Ltd.   | diary |       |       |   |         |      |
+------------------------+-------+-------+-------+---+---------+------+
|   Beginning balance    |       | -     | -     |   | -       | -    |
+------------------------+-------+-------+-------+---+---------+------+
|   Increase in the      |       | -     | -     |   | 394,000 | -    |
|   period               |       |       |       |   | ,000.00 |      |
+------------------------+-------+-------+-------+---+---------+------+
|   Repaid in the period |       | -     | -     |   | (3      | -    |
|                        |       |       |       |   | 94,000, |      |
|                        |       |       |       |   | 000.00) |      |
+------------------------+-------+-------+-------+---+---------+------+
|   Ending balance       |       | -     | -     |   | -       | -    |
+------------------------+-------+-------+-------+---+---------+------+
|   New Krung Thai Sugar | Subsi |       |       |   |         |      |
|   Factory Co., Ltd.    | diary |       |       |   |         |      |
+------------------------+-------+-------+-------+---+---------+------+
|   Beginning balance    |       | -     | -     |   | -       | -    |
+------------------------+-------+-------+-------+---+---------+------+
|   Increase in the      |       | -     | -     |   | 178,000 | -    |
|   period               |       |       |       |   | ,000.00 |      |
+------------------------+-------+-------+-------+---+---------+------+
|   Repaid in the period |       | -     | -     |   | (1      | -    |
|                        |       |       |       |   | 78,000, |      |
|                        |       |       |       |   | 000.00) |      |
+------------------------+-------+-------+-------+---+---------+------+
|   Ending balance       |       | -     | -     |   | -       | -    |
+------------------------+-------+-------+-------+---+---------+------+
|                        |       |       |       |   |         |      |
+------------------------+-------+-------+-------+---+---------+------+
|   New Kwang Soon Lee   | Subsi |       |       |   |         |      |
|   Sugar Factory Co.,   | diary |       |       |   |         |      |
|   Ltd.                 |       |       |       |   |         |      |
+------------------------+-------+-------+-------+---+---------+------+
|   Beginning balance    |       | -     | -     |   | -       | -    |
+------------------------+-------+-------+-------+---+---------+------+
|   Increase in the      |       | -     | -     |   | 284,000 | -    |
|   period               |       |       |       |   | ,000.00 |      |
+------------------------+-------+-------+-------+---+---------+------+
|   Repaid in the period |       | -     | -     |   | (2      | -    |
|                        |       |       |       |   | 50,000, |      |
|                        |       |       |       |   | 000.00) |      |
+------------------------+-------+-------+-------+---+---------+------+
|   Ending balance       |       | -     | -     |   | 34,000  | -    |
|                        |       |       |       |   | ,000.00 |      |
+------------------------+-------+-------+-------+---+---------+------+
|   K.S.L. Real Estate   | Subsi |       |       |   |         |      |
|   Co., Ltd.            | diary |       |       |   |         |      |
+------------------------+-------+-------+-------+---+---------+------+
|   Beginning balance    |       | -     | -     |   | 13,600  | 5,40 |
|                        |       |       |       |   | ,000.00 | 0,00 |
|                        |       |       |       |   |         | 0.00 |
+------------------------+-------+-------+-------+---+---------+------+
|   Increase in the      |       | -     | -     |   | -       | 8,60 |
|   period               |       |       |       |   |         | 0,00 |
|                        |       |       |       |   |         | 0.00 |
+------------------------+-------+-------+-------+---+---------+------+
|   Repaid in the period |       | -     | -     |   | -       | (400 |
|                        |       |       |       |   |         | ,000 |
|                        |       |       |       |   |         | .00) |
+------------------------+-------+-------+-------+---+---------+------+
|   Ending balance       |       | -     | -     |   | 13,600  | 1    |
|                        |       |       |       |   | ,000.00 | 3,60 |
|                        |       |       |       |   |         | 0,00 |
|                        |       |       |       |   |         | 0.00 |
+------------------------+-------+-------+-------+---+---------+------+
|   Khon Kaen Alcohol    | Subsi |       |       |   |         |      |
|   Co., Ltd.            | diary |       |       |   |         |      |
+------------------------+-------+-------+-------+---+---------+------+
|   Beginning balance    |       | -     | -     |   | -       | -    |
+------------------------+-------+-------+-------+---+---------+------+
|   Increase in the      |       | -     | -     |   | 148,000 | -    |
|   period               |       |       |       |   | ,000.00 |      |
+------------------------+-------+-------+-------+---+---------+------+
|   Repaid in the period |       | -     | -     |   | (1      | -    |
|                        |       |       |       |   | 48,000, |      |
|                        |       |       |       |   | 000.00) |      |
+------------------------+-------+-------+-------+---+---------+------+
|   Ending balance       |       | -     | -     |   | -       | -    |
+------------------------+-------+-------+-------+---+---------+------+

(Unit : Baht)

+------------------------+-------+--------+-------+---+--------+------+
| Type of                | Re    | Consol |       |   | Se     |      |
| Transaction/Company    | latio | idated |       |   | parate |      |
| Name                   | nship | fin    |       |   | fin    |      |
|                        |       | ancial |       |   | ancial |      |
|                        |       | stat   |       |   | stat   |      |
|                        |       | ements |       |   | ements |      |
+------------------------+-------+--------+-------+---+--------+------+
|                        |       | As at  |       |   | As at  |      |
|                        |       | O      |       |   | O      |      |
|                        |       | ctober |       |   | ctober |      |
|                        |       | 31,    |       |   | 31,    |      |
+------------------------+-------+--------+-------+---+--------+------+
|                        |       | 2007   | 2006  |   | 2007   | 2006 |
+------------------------+-------+--------+-------+---+--------+------+
|   Khon Kaen Sugar      | Subsi |        |       |   |        |      |
|   Power Plant Co.,     | diary |        |       |   |        |      |
|   Ltd.                 |       |        |       |   |        |      |
+------------------------+-------+--------+-------+---+--------+------+
|   Beginning balance    |       | -      | -     |   | -      | -    |
+------------------------+-------+--------+-------+---+--------+------+
|   Increase in the      |       | -      | -     |   | 2      | -    |
|   period               |       |        |       |   | 2,000, |      |
|                        |       |        |       |   | 000.00 |      |
+------------------------+-------+--------+-------+---+--------+------+
|   Repaid in the period |       | -      | -     |   | (22    | -    |
|                        |       |        |       |   | ,000,0 |      |
|                        |       |        |       |   | 00.00) |      |
+------------------------+-------+--------+-------+---+--------+------+
|   Ending balance       |       | -      | -     |   | -      | -    |
+------------------------+-------+--------+-------+---+--------+------+
|   KSL Chemical Co.,    | Subsi |        |       |   |        |      |
|   Ltd.                 | diary |        |       |   |        |      |
+------------------------+-------+--------+-------+---+--------+------+
|   Beginning balance    |       | -      | -     |   | -      | -    |
+------------------------+-------+--------+-------+---+--------+------+
|   Increase in the      |       | -      | -     |   | 2,000, | -    |
|   period               |       |        |       |   | 000.00 |      |
+------------------------+-------+--------+-------+---+--------+------+
|   Repaid in the period |       | -      | -     |   | (2     | -    |
|                        |       |        |       |   | ,000,0 |      |
|                        |       |        |       |   | 00.00) |      |
+------------------------+-------+--------+-------+---+--------+------+
|   Ending balance       |       | -      | -     |   | -      | -    |
+------------------------+-------+--------+-------+---+--------+------+
|   KSL. Agro Co., Ltd.  | Subsi |        |       |   |        |      |
|                        | diary |        |       |   |        |      |
+------------------------+-------+--------+-------+---+--------+------+
|   Beginning balance    |       | -      | -     |   | -      | -    |
+------------------------+-------+--------+-------+---+--------+------+
|   Increase in the      |       | -      | -     |   | -      | 7    |
|   period               |       |        |       |   |        | 5,50 |
|                        |       |        |       |   |        | 0,00 |
|                        |       |        |       |   |        | 0.00 |
+------------------------+-------+--------+-------+---+--------+------+
|   Repaid in the period |       | -      | -     |   | -      | (75  |
|                        |       |        |       |   |        | ,500 |
|                        |       |        |       |   |        | ,000 |
|                        |       |        |       |   |        | .00) |
+------------------------+-------+--------+-------+---+--------+------+
|   Ending balance       |       | -      | -     |   | -      | -    |
+------------------------+-------+--------+-------+---+--------+------+
|   Prachaup Industry    | Re    |        |       |   |        |      |
|   Co., Ltd.            | lated |        |       |   |        |      |
+------------------------+-------+--------+-------+---+--------+------+
|   Beginning balance    |       | 15     | 129,  |   | -      | -    |
|                        |       | 3,167, | 927,5 |   |        |      |
|                        |       | 380.00 | 50.00 |   |        |      |
+------------------------+-------+--------+-------+---+--------+------+
|   Increase in the      |       | 71     | 408,  |   | -      | -    |
|   period               |       | 7,180, | 937,3 |   |        |      |
|                        |       | 000.00 | 50.00 |   |        |      |
+------------------------+-------+--------+-------+---+--------+------+
|   Repaid in the period |       | (774   | (     |   | -      | -    |
|                        |       | ,766,6 | 385,6 |   |        |      |
|                        |       | 48.78) | 97,52 |   |        |      |
|                        |       |        | 0.00) |   |        |      |
+------------------------+-------+--------+-------+---+--------+------+
|   Ending balance       |       | 9      | 153,  |   | -      | -    |
|                        |       | 5,580, | 167,3 |   |        |      |
|                        |       | 731.22 | 80.00 |   |        |      |
+------------------------+-------+--------+-------+---+--------+------+
|   Total                |       | 9      | 153,  |   | 4      | 1    |
|                        |       | 5,580, | 167,3 |   | 7,600, | 3,60 |
|                        |       | 731.22 | 80.00 |   | 000.00 | 0,00 |
|                        |       |        |       |   |        | 0.00 |
+------------------------+-------+--------+-------+---+--------+------+

  As at October 31, 2007 and 2006, loans due from subsidiary and related
  companies were loans in the form of promissory notes and payable on
  demand bearing interest rates at 4.08-6.87% and 6.25-6.75% per annum
  respectively. The loan due from related company was incurred by a
  subsidiary company borrowing money in the form of packing credit on
  behalf of the related company as specified in notes to financial
  statements No. 19.

  (Unit : Baht)

+-----------------------+---------+------+-------+---+--------+--------+
| Type of               | Relat   | Cons |       |   | Se     |        |
| Transaction/Company   | ionship | olid |       |   | parate |        |
| Name                  |         | ated |       |   | fin    |        |
|                       |         | f    |       |   | ancial |        |
|                       |         | inan |       |   | stat   |        |
|                       |         | cial |       |   | ements |        |
|                       |         | st   |       |   |        |        |
|                       |         | atem |       |   |        |        |
|                       |         | ents |       |   |        |        |
+-----------------------+---------+------+-------+---+--------+--------+
|                       |         | As   |       |   | As at  |        |
|                       |         | at   |       |   | O      |        |
|                       |         | Oct  |       |   | ctober |        |
|                       |         | ober |       |   | 31,    |        |
|                       |         | 31,  |       |   |        |        |
+-----------------------+---------+------+-------+---+--------+--------+
|                       |         | 2007 | 2006  |   | 2007   | 2006   |
+-----------------------+---------+------+-------+---+--------+--------+
| - Loan due to         |         |      |       |   |        |        |
+-----------------------+---------+------+-------+---+--------+--------+
|   Tamaka Sugar        | Sub     |      |       |   |        |        |
|   Industry Co., Ltd.  | sidiary |      |       |   |        |        |
+-----------------------+---------+------+-------+---+--------+--------+
|   Beginning balance   |         | -    | -     |   | 6      | -      |
|                       |         |      |       |   | 5,000, |        |
|                       |         |      |       |   | 000.00 |        |
+-----------------------+---------+------+-------+---+--------+--------+
|   Increase in the     |         | -    | -     |   | 16     | 17     |
|   period              |         |      |       |   | 0,000, | 2,000, |
|                       |         |      |       |   | 000.00 | 000.00 |
+-----------------------+---------+------+-------+---+--------+--------+
|   Repayment in the    |         | -    | -     |   | (225   | (107   |
|   period              |         |      |       |   | ,000,0 | ,000,0 |
|                       |         |      |       |   | 00.00) | 00.00) |
+-----------------------+---------+------+-------+---+--------+--------+
|   Ending balance      |         | -    | -     |   | -      | 6      |
|                       |         |      |       |   |        | 5,000, |
|                       |         |      |       |   |        | 000.00 |
+-----------------------+---------+------+-------+---+--------+--------+
|   New Krung Thai      | Sub     |      |       |   |        |        |
|   Sugar Factory Co.,  | sidiary |      |       |   |        |        |
|   Ltd.                |         |      |       |   |        |        |
+-----------------------+---------+------+-------+---+--------+--------+
|   Beginning balance   |         | -    | -     |   | -      | -      |
+-----------------------+---------+------+-------+---+--------+--------+
|   Increase in the     |         | -    | -     |   | 21     | -      |
|   period              |         |      |       |   | 1,000, |        |
|                       |         |      |       |   | 000.00 |        |
+-----------------------+---------+------+-------+---+--------+--------+
|   Repayment in the    |         | -    | -     |   | (168   | -      |
|   period              |         |      |       |   | ,000,0 |        |
|                       |         |      |       |   | 00.00) |        |
+-----------------------+---------+------+-------+---+--------+--------+
|   Ending balance      |         | -    | -     |   | 4      | -      |
|                       |         |      |       |   | 3,000, |        |
|                       |         |      |       |   | 000.00 |        |
+-----------------------+---------+------+-------+---+--------+--------+

  (Unit : Baht)

+-----------------------+---------+------+-------+---+--------+--------+
| Type of               | Relat   | Cons |       |   | Se     |        |
| Transaction/Company   | ionship | olid |       |   | parate |        |
| Name                  |         | ated |       |   | fin    |        |
|                       |         | f    |       |   | ancial |        |
|                       |         | inan |       |   | stat   |        |
|                       |         | cial |       |   | ements |        |
|                       |         | st   |       |   |        |        |
|                       |         | atem |       |   |        |        |
|                       |         | ents |       |   |        |        |
+-----------------------+---------+------+-------+---+--------+--------+
|                       |         | As   |       |   | As at  |        |
|                       |         | at   |       |   | O      |        |
|                       |         | Oct  |       |   | ctober |        |
|                       |         | ober |       |   | 31,    |        |
|                       |         | 31,  |       |   |        |        |
+-----------------------+---------+------+-------+---+--------+--------+
|                       |         | 2007 | 2006  |   | 2007   | 2006   |
+-----------------------+---------+------+-------+---+--------+--------+
|   K.S.L. Export       | Sub     |      |       |   |        |        |
|   Trading Co., Ltd.   | sidiary |      |       |   |        |        |
+-----------------------+---------+------+-------+---+--------+--------+
|   Beginning balance   |         | -    | -     |   | -      | -      |
+-----------------------+---------+------+-------+---+--------+--------+
|   Increase in the     |         | -    | -     |   | 66     | -      |
|   period              |         |      |       |   | 0,000, |        |
|                       |         |      |       |   | 000.00 |        |
+-----------------------+---------+------+-------+---+--------+--------+
|   Repayment in the    |         | -    | -     |   | (660   | -      |
|   period              |         |      |       |   | ,000,0 |        |
|                       |         |      |       |   | 00.00) |        |
+-----------------------+---------+------+-------+---+--------+--------+
|   Ending balance      |         | -    | -     |   | -      | -      |
+-----------------------+---------+------+-------+---+--------+--------+
|   Khon Kaen Sugar     | Sub     |      |       |   |        |        |
|   Power Plant Co.,    | sidiary |      |       |   |        |        |
|   Ltd.                |         |      |       |   |        |        |
+-----------------------+---------+------+-------+---+--------+--------+
|   Beginning balance   |         | -    | -     |   | -      | 18     |
|                       |         |      |       |   |        | 5,000, |
|                       |         |      |       |   |        | 000.00 |
+-----------------------+---------+------+-------+---+--------+--------+
|   Increase in the     |         | -    | -     |   | 16     | 11     |
|   period              |         |      |       |   | 5,500, | 5,000, |
|                       |         |      |       |   | 000.00 | 000.00 |
+-----------------------+---------+------+-------+---+--------+--------+
|   Repayment in the    |         | -    | -     |   | (117   | (300   |
|   period              |         |      |       |   | ,000,0 | ,000,0 |
|                       |         |      |       |   | 00.00) | 00.00) |
+-----------------------+---------+------+-------+---+--------+--------+
|   Ending balance      |         | -    | -     |   | 4      | -      |
|                       |         |      |       |   | 8,500, |        |
|                       |         |      |       |   | 000.00 |        |
+-----------------------+---------+------+-------+---+--------+--------+
|   TS Transport and    | Related |      |       |   |        |        |
|   Logistics Co., Ltd. |         |      |       |   |        |        |
+-----------------------+---------+------+-------+---+--------+--------+
|   Beginning balance   |         | -    | -     |   | -      | -      |
+-----------------------+---------+------+-------+---+--------+--------+
|   Increase in the     |         | 1,00 | -     |   | -      | -      |
|   period              |         | 0,00 |       |   |        |        |
|                       |         | 0.00 |       |   |        |        |
+-----------------------+---------+------+-------+---+--------+--------+
|   Repayment in the    |         | (1   | -     |   | -      | -      |
|   period              |         | ,000 |       |   |        |        |
|                       |         | ,000 |       |   |        |        |
|                       |         | .00) |       |   |        |        |
+-----------------------+---------+------+-------+---+--------+--------+
|   Ending balance      |         | -    | -     |   | -      | -      |
+-----------------------+---------+------+-------+---+--------+--------+
|   Total               |         | -    | -     |   | 9      | 6      |
|                       |         |      |       |   | 1,500, | 5,000, |
|                       |         |      |       |   | 000.00 | 000.00 |
+-----------------------+---------+------+-------+---+--------+--------+

  As at October 31, 2007 and 2006, loans from subsidiary companies are
  loans repayable at call and carrying interest rates at 2.75-6.25% and
  6.25 - 6.75% per annum respectively.

  In the year 2007, loan due to K.S.L. Export Trading Co., Ltd. was in
  the form of promissory notes repayable on demand and bearing interest
  rate at 4.00% per annum. This loan was incurred by K.S.L. Export
  Trading Co., Ltd. borrowing money in the form of packing credit on
  behalf of the Company which has been fully repaid during the period.

  11.2 Inter- Revenues-Expenses and Inter -Sales-Purchase assets.

  (Unit : Baht)

+-------------------------+------+-------+--------+---+---+--------+-------+
|   Type of               | Rela | Co    |        |   |   | Se     |       |
|   Transaction/Company   | tion | nsoli |        |   |   | parate |       |
|   Name                  | ship | dated |        |   |   | fin    |       |
|                         |      | fina  |        |   |   | ancial |       |
|                         |      | ncial |        |   |   | sta    |       |
|                         |      | state |        |   |   | tement |       |
|                         |      | ments |        |   |   |        |       |
+-------------------------+------+-------+--------+---+---+--------+-------+
|                         |      | For   |        |   |   |        |       |
|                         |      | the   |        |   |   |        |       |
|                         |      | Years |        |   |   |        |       |
|                         |      | ended |        |   |   |        |       |
|                         |      | on    |        |   |   |        |       |
|                         |      | Oc    |        |   |   |        |       |
|                         |      | tober |        |   |   |        |       |
|                         |      | 31,   |        |   |   |        |       |
+-------------------------+------+-------+--------+---+---+--------+-------+
|                         |      | 2007  | 2006   |   | 2 |        | 2006  |
|                         |      |       |        |   | 0 |        |       |
|                         |      |       |        |   | 0 |        |       |
|                         |      |       |        |   | 7 |        |       |
+-------------------------+------+-------+--------+---+---+--------+-------+
|   - Sales               |      |       |        |   |   |        |       |
+-------------------------+------+-------+--------+---+---+--------+-------+
|   New Krung Thai Sugar  | Su   | -     | -      |   | 1 |        | 19,   |
|   Factory Co., Ltd.     | bsid |       |        |   | 5 |        | 254,9 |
|                         | iary |       |        |   | , |        | 20.92 |
|                         |      |       |        |   | 3 |        |       |
|                         |      |       |        |   | 5 |        |       |
|                         |      |       |        |   | 1 |        |       |
|                         |      |       |        |   | , |        |       |
|                         |      |       |        |   | 4 |        |       |
|                         |      |       |        |   | 4 |        |       |
|                         |      |       |        |   | 0 |        |       |
|                         |      |       |        |   | . |        |       |
|                         |      |       |        |   | 8 |        |       |
|                         |      |       |        |   | 0 |        |       |
+-------------------------+------+-------+--------+---+---+--------+-------+
|   Tamaka Sugar Industry | Su   | -     | -      |   | 2 |        | 23,   |
|   Co., Ltd.             | bsid |       |        |   | 5 |        | 961,5 |
|                         | iary |       |        |   | , |        | 80.18 |
|                         |      |       |        |   | 2 |        |       |
|                         |      |       |        |   | 8 |        |       |
|                         |      |       |        |   | 9 |        |       |
|                         |      |       |        |   | , |        |       |
|                         |      |       |        |   | 7 |        |       |
|                         |      |       |        |   | 4 |        |       |
|                         |      |       |        |   | 5 |        |       |
|                         |      |       |        |   | . |        |       |
|                         |      |       |        |   | 2 |        |       |
|                         |      |       |        |   | 1 |        |       |
+-------------------------+------+-------+--------+---+---+--------+-------+
|   New Kwang Soon Lee    | Su   | -     | -      |   | 1 |        | 14,   |
|   Sugar Factory Co.,    | bsid |       |        |   | 3 |        | 668,5 |
|   Ltd.                  | iary |       |        |   | , |        | 22.93 |
|                         |      |       |        |   | 5 |        |       |
|                         |      |       |        |   | 9 |        |       |
|                         |      |       |        |   | 3 |        |       |
|                         |      |       |        |   | , |        |       |
|                         |      |       |        |   | 0 |        |       |
|                         |      |       |        |   | 1 |        |       |
|                         |      |       |        |   | 8 |        |       |
|                         |      |       |        |   | . |        |       |
|                         |      |       |        |   | 3 |        |       |
|                         |      |       |        |   | 3 |        |       |
+-------------------------+------+-------+--------+---+---+--------+-------+
|   Khon Kaen Alcohol     | Su   | -     | -      |   | 1 |        | 306,  |
|   Co., Ltd.             | bsid |       |        |   | 9 |        | 376,8 |
|                         | iary |       |        |   | 6 |        | 04.40 |
|                         |      |       |        |   | , |        |       |
|                         |      |       |        |   | 6 |        |       |
|                         |      |       |        |   | 9 |        |       |
|                         |      |       |        |   | 0 |        |       |
|                         |      |       |        |   | , |        |       |
|                         |      |       |        |   | 0 |        |       |
|                         |      |       |        |   | 6 |        |       |
|                         |      |       |        |   | 6 |        |       |
|                         |      |       |        |   | . |        |       |
|                         |      |       |        |   | 5 |        |       |
|                         |      |       |        |   | 9 |        |       |
+-------------------------+------+-------+--------+---+---+--------+-------+
|   Khon Kaen Sugar Power | Su   | -     | -      |   | 1 |        | 5,1   |
|   Plant Co., Ltd.       | bsid |       |        |   | 5 |        | 02.81 |
|                         | iary |       |        |   | , |        |       |
|                         |      |       |        |   | 1 |        |       |
|                         |      |       |        |   | 2 |        |       |
|                         |      |       |        |   | 6 |        |       |
|                         |      |       |        |   | . |        |       |
|                         |      |       |        |   | 1 |        |       |
|                         |      |       |        |   | 7 |        |       |
+-------------------------+------+-------+--------+---+---+--------+-------+
|   KSL Chemical Co.,     | Su   | -     | -      |   | 1 |        | 8     |
|   Ltd.                  | bsid |       |        |   | , |        | 97.20 |
|                         | iary |       |        |   | 9 |        |       |
|                         |      |       |        |   | 4 |        |       |
|                         |      |       |        |   | 8 |        |       |
|                         |      |       |        |   | . |        |       |
|                         |      |       |        |   | 6 |        |       |
|                         |      |       |        |   | 0 |        |       |
+-------------------------+------+-------+--------+---+---+--------+-------+
|   Thai Sugar Terminal   | Su   | -     | -      |   | 4 |        | -     |
|   Public Co., Ltd.      | bsid |       |        |   | , |        |       |
|                         | iary |       |        |   | 9 |        |       |
|                         |      |       |        |   | 7 |        |       |
|                         |      |       |        |   | 6 |        |       |
|                         |      |       |        |   | . |        |       |
|                         |      |       |        |   | 6 |        |       |
|                         |      |       |        |   | 4 |        |       |
+-------------------------+------+-------+--------+---+---+--------+-------+
|   KSL. Agro Co., Ltd.   | Su   | -     | -      |   | 1 |        | -     |
|                         | bsid |       |        |   | 4 |        |       |
|                         | iary |       |        |   | , |        |       |
|                         |      |       |        |   | 5 |        |       |
|                         |      |       |        |   | 0 |        |       |
|                         |      |       |        |   | 9 |        |       |
|                         |      |       |        |   | . |        |       |
|                         |      |       |        |   | 3 |        |       |
|                         |      |       |        |   | 5 |        |       |
+-------------------------+------+-------+--------+---+---+--------+-------+
|   K.S.L. Real Estate    | Su   |   -   |   -    |   | 6 |        |   -   |
|   Co., Ltd.             | bsid |       |        |   | 4 |        |       |
|                         | iary |       |        |   | 9 |        |       |
|                         |      |       |        |   | . |        |       |
|                         |      |       |        |   | 5 |        |       |
|                         |      |       |        |   | 4 |        |       |
+-------------------------+------+-------+--------+---+---+--------+-------+
|   Koh Kong Plantation   | Su   | -     | -      |   | 7 |        | -     |
|   Co., Ltd.             | bsid |       |        |   | , |        |       |
|                         | iary |       |        |   | 9 |        |       |
|                         |      |       |        |   | 4 |        |       |
|                         |      |       |        |   | 3 |        |       |
|                         |      |       |        |   | . |        |       |
|                         |      |       |        |   | 9 |        |       |
|                         |      |       |        |   | 3 |        |       |
+-------------------------+------+-------+--------+---+---+--------+-------+
|   Thai Fermentation     | Rel  | 155,  | 19     |   | 8 |        | 44,   |
|   Industry Co., Ltd.    | ated | 479,4 | 4,718, |   | , |        | 002,4 |
|                         |      | 34.64 | 861.93 |   | 9 |        | 39.23 |
|                         |      |       |        |   | 5 |        |       |
|                         |      |       |        |   | 3 |        |       |
|                         |      |       |        |   | , |        |       |
|                         |      |       |        |   | 6 |        |       |
|                         |      |       |        |   | 0 |        |       |
|                         |      |       |        |   | 8 |        |       |
|                         |      |       |        |   | . |        |       |
|                         |      |       |        |   | 9 |        |       |
|                         |      |       |        |   | 3 |        |       |
+-------------------------+------+-------+--------+---+---+--------+-------+
|   Other Related         |      | 81,4  | 5,     |   | 7 |        | 5,9   |
|   Companies             |      | 01.40 | 906.54 |   | 1 |        | 06.54 |
|                         |      |       |        |   | , |        |       |
|                         |      |       |        |   | 2 |        |       |
|                         |      |       |        |   | 1 |        |       |
|                         |      |       |        |   | 8 |        |       |
|                         |      |       |        |   | . |        |       |
|                         |      |       |        |   | 4 |        |       |
|                         |      |       |        |   | 5 |        |       |
+-------------------------+------+-------+--------+---+---+--------+-------+
|   Total                 |      | 155,  | 19     |   | 2 |        | 408,  |
|                         |      | 560,8 | 4,724, |   | 5 |        | 276,1 |
|                         |      | 36.04 | 768.47 |   | 9 |        | 74.21 |
|                         |      |       |        |   | , |        |       |
|                         |      |       |        |   | 9 |        |       |
|                         |      |       |        |   | 9 |        |       |
|                         |      |       |        |   | 4 |        |       |
|                         |      |       |        |   | , |        |       |
|                         |      |       |        |   | 2 |        |       |
|                         |      |       |        |   | 5 |        |       |
|                         |      |       |        |   | 2 |        |       |
|                         |      |       |        |   | . |        |       |
|                         |      |       |        |   | 5 |        |       |
|                         |      |       |        |   | 4 |        |       |
+-------------------------+------+-------+--------+---+---+--------+-------+

  (Unit : Baht)

+------------------------+------+--------+-------+---+--------+--------+
|   Type of              | Rela | Consol |       |   | Se     |        |
|   Transaction/Company  | tion | idated |       |   | parate |        |
|   Name                 | ship | fin    |       |   | fin    |        |
|                        |      | ancial |       |   | ancial |        |
|                        |      | stat   |       |   | stat   |        |
|                        |      | ements |       |   | ements |        |
+------------------------+------+--------+-------+---+--------+--------+
|                        |      | For    |       |   |        |        |
|                        |      | the    |       |   |        |        |
|                        |      | Years  |       |   |        |        |
|                        |      | ended  |       |   |        |        |
|                        |      | on     |       |   |        |        |
|                        |      | O      |       |   |        |        |
|                        |      | ctober |       |   |        |        |
|                        |      | 31,    |       |   |        |        |
+------------------------+------+--------+-------+---+--------+--------+
|                        |      | 2007   | 2006  |   | 2007   | 2006   |
+------------------------+------+--------+-------+---+--------+--------+
|   - Purchases          |      |        |       |   |        |        |
+------------------------+------+--------+-------+---+--------+--------+
|   Tamaka Sugar         | Su   | -      | -     |   | 44     | 42     |
|   Industry Co., Ltd.   | bsid |        |       |   | 1,366, | 6,160, |
|                        | iary |        |       |   | 172.87 | 349.39 |
+------------------------+------+--------+-------+---+--------+--------+
|   New Krung Thai Sugar | Su   | -      | -     |   | 44     | 21     |
|   Factory Co., Ltd.    | bsid |        |       |   | 3,859, | 2,099, |
|                        | iary |        |       |   | 961.61 | 099.12 |
+------------------------+------+--------+-------+---+--------+--------+
|   New Kwang Soon Lee   | Su   | -      | -     |   | 8      | 12     |
|   Sugar Factory Co.,   | bsid |        |       |   | 3,663, | 1,149, |
|   Ltd.                 | iary |        |       |   | 439.40 | 320.21 |
+------------------------+------+--------+-------+---+--------+--------+
|   Khon Kaen Alcohol    | Su   | -      | -     |   | 8,454, | 1      |
|   Co., Ltd.            | bsid |        |       |   | 433.45 | 0,176, |
|                        | iary |        |       |   |        | 760.00 |
+------------------------+------+--------+-------+---+--------+--------+
|   Khon Kaen Sugar      | Su   | -      | -     |   | 12     | -      |
|   Power Plant Co.,     | bsid |        |       |   | 2,525, |        |
|   Ltd.                 | iary |        |       |   | 973.64 |        |
+------------------------+------+--------+-------+---+--------+--------+
|   Thai Fermentation    | Rel  | 2,778, | 1,    |   | 867,   | 485,   |
|   Industry Co., Ltd.   | ated | 825.32 | 866,4 |   | 406.32 | 141.00 |
|                        |      |        | 88.00 |   |        |        |
+------------------------+------+--------+-------+---+--------+--------+
|   Total                |      | 2,778, | 1,    |   | 1,10   | 77     |
|                        |      | 825.32 | 866,4 |   | 0,737, | 0,070, |
|                        |      |        | 88.00 |   | 387.29 | 669.72 |
+------------------------+------+--------+-------+---+--------+--------+
|   - Value of Assets    |      |        |       |   |        |        |
|   Sold                 |      |        |       |   |        |        |
+------------------------+------+--------+-------+---+--------+--------+
|   Khon Kaen Alcohol    | Su   | -      | -     |   | 1,342, | 1      |
|   Co., Ltd.            | bsid |        |       |   | 424.77 | 5,243, |
|                        | iary |        |       |   |        | 905.00 |
+------------------------+------+--------+-------+---+--------+--------+
|   Khon Kaen Sugar      | Su   | -      | -     |   | 964,   | -      |
|   Power Plant Co.,     | bsid |        |       |   | 131.13 |        |
|   Ltd.                 | iary |        |       |   |        |        |
+------------------------+------+--------+-------+---+--------+--------+
|   Tamaka Sugar         | Su   | -      | -     |   | 1,426, | -      |
|   Industry Co., Ltd.   | bsid |        |       |   | 250.00 |        |
|                        | iary |        |       |   |        |        |
+------------------------+------+--------+-------+---+--------+--------+
|   Total                |      | -      | -     |   | 3,732, | 1      |
|                        |      |        |       |   | 805.90 | 5,243, |
|                        |      |        |       |   |        | 905.00 |
+------------------------+------+--------+-------+---+--------+--------+
|   - Dividend received  |      |        |       |   |        |        |
+------------------------+------+--------+-------+---+--------+--------+
|   Tamaka Sugar         | Su   | -      | -     |   | 18     | 11     |
|   Industry Co., Ltd.   | bsid |        |       |   | 1,331, | 4,240, |
|                        | iary |        |       |   | 289.05 | 420.35 |
+------------------------+------+--------+-------+---+--------+--------+
|   New Krung Thai Sugar | Su   | -      | -     |   | 7      | -      |
|   Factory Co., Ltd.    | bsid |        |       |   | 8,679, |        |
|                        | iary |        |       |   | 281.60 |        |
+------------------------+------+--------+-------+---+--------+--------+
|   Total                |      | -      | -     |   | 26     | 11     |
|                        |      |        |       |   | 0,010, | 4,240, |
|                        |      |        |       |   | 570.65 | 420.35 |
+------------------------+------+--------+-------+---+--------+--------+
|   - Other Incomes      |      |        |       |   |        |        |
+------------------------+------+--------+-------+---+--------+--------+
|   Tamaka Sugar         | Su   | -      | -     |   | 15,    | 148,   |
|   Industry Co., Ltd.   | bsid |        |       |   | 762.25 | 551.41 |
|                        | iary |        |       |   |        |        |
+------------------------+------+--------+-------+---+--------+--------+
|   New Krung Thai Sugar | Su   | -      | -     |   | 15,    | 69,    |
|   Factory Co., Ltd.    | bsid |        |       |   | 594.96 | 551.41 |
|                        | iary |        |       |   |        |        |
+------------------------+------+--------+-------+---+--------+--------+
|   New Kwang Soon Lee   | Su   | -      | -     |   | 262,   | 2,     |
|   Sugar Factory Co.,   | bsid |        |       |   | 876.80 | 336.45 |
|   Ltd.                 | iary |        |       |   |        |        |
+------------------------+------+--------+-------+---+--------+--------+
|   K.S.L. Export        | Su   | -      | -     |   | 52,    | 56,    |
|   Trading Co., Ltd.    | bsid |        |       |   | 803.77 | 542.09 |
|                        | iary |        |       |   |        |        |
+------------------------+------+--------+-------+---+--------+--------+
|   KSL. Agro Co., Ltd.  | Su   | -      | -     |   | 2,     | -      |
|                        | bsid |        |       |   | 100.00 |        |
|                        | iary |        |       |   |        |        |
+------------------------+------+--------+-------+---+--------+--------+
|   KSL Chemical Co.,    | Su   | -      | -     |   | 11,    | 17,    |
|   Ltd.                 | bsid |        |       |   | 214.96 | 757.01 |
|                        | iary |        |       |   |        |        |
+------------------------+------+--------+-------+---+--------+--------+
|   Khon Kaen Alcohol    | Su   | -      | -     |   | 3      | 4      |
|   Co., Ltd.            | bsid |        |       |   | 9,045, | 6,653, |
|                        | iary |        |       |   | 700.79 | 587.76 |
+------------------------+------+--------+-------+---+--------+--------+
|   Khon Kaen Sugar      | Su   | -      | -     |   | 21     | 1,395, |
|   Power Plant Co.,     | bsid |        |       |   | 7,150, | 662.69 |
|   Ltd.                 | iary |        |       |   | 856.40 |        |
+------------------------+------+--------+-------+---+--------+--------+
|   Thai Sugar Terminal  | Su   | -      | -     |   | 524,   | 437,   |
|   Public Co., Ltd.     | bsid |        |       |   | 985.40 | 447.96 |
|                        | iary |        |       |   |        |        |
+------------------------+------+--------+-------+---+--------+--------+
|   Savannakhet Sugar    | Su   | -      | -     |   | 425,   | -      |
|   Corporation          | bsid |        |       |   | 000.00 |        |
|                        | iary |        |       |   |        |        |
+------------------------+------+--------+-------+---+--------+--------+
|   Koh Kong Plantation  | Su   | -      | -     |   | 3,047, | -      |
|   Co., Ltd.            | bsid |        |       |   | 556.26 |        |
|                        | iary |        |       |   |        |        |
+------------------------+------+--------+-------+---+--------+--------+
|   Thai Fermentation    | Rel  | 241,   | 311,4 |   | 80,    | 68,    |
|   Industry Co., Ltd.   | ated | 420.17 | 11.63 |   | 841.17 | 691.63 |
+------------------------+------+--------+-------+---+--------+--------+
|   On Nuj Construction  | Rel  | 486,   | 486,8 |   | 486,   | 486,   |
|   Co., Ltd.            | ated | 816.00 | 16.00 |   | 816.00 | 816.00 |
+------------------------+------+--------+-------+---+--------+--------+
|   Chengteh Chinaware   | Rel  | 1,450, | 1,    |   | 1,450, | 1,440, |
|   (Thailand) Co., Ltd. | ated | 897.20 | 440,0 |   | 897.20 | 000.00 |
|                        |      |        | 00.00 |   |        |        |
+------------------------+------+--------+-------+---+--------+--------+
|   K. K. Wood Industry  | Rel  | 1,737, | 829,4 |   | 1,737, | 829,   |
|   Co., Ltd.            | ated | 659.56 | 40.00 |   | 659.56 | 440.00 |
+------------------------+------+--------+-------+---+--------+--------+
|   K.S.L. IT Center     | Rel  | 363,   | 364,0 |   | 363,   | 363,   |
|   Co., Ltd.            | ated | 864.98 | 76.16 |   | 121.48 | 626.16 |
+------------------------+------+--------+-------+---+--------+--------+
|   Amarco Co., Ltd.     | Rel  | 33,    | 18,0  |   | 33,    | 18,    |
|                        | ated | 368.69 | 00.00 |   | 368.69 | 000.00 |
+------------------------+------+--------+-------+---+--------+--------+
|   KSL Tower Juristic   | Rel  | 3,     | -     |   | 3,     | -      |
|   Person               | ated | 490.66 |       |   | 490.66 |        |
+------------------------+------+--------+-------+---+--------+--------+
|   Prachaup Industry    | Rel  | 8,550, | 4,    |   | -      | -      |
|   Co.,Ltd.             | ated | 936.23 | 670,1 |   |        |        |
|                        |      |        | 17.18 |   |        |        |
+------------------------+------+--------+-------+---+--------+--------+
| Mitr Kaset Sugar       | Rel  | 816,   | 87,8  |   | -      | -      |
| Indrstry Co., Ltd.     | ated | 481.10 | 64.75 |   |        |        |
+------------------------+------+--------+-------+---+--------+--------+
| Eastern Sugar And      | Rel  | 295,   | 162,0 |   | -      | -      |
| Sugar Cane Co., Ltd.   | ated | 667.60 | 09.45 |   |        |        |
+------------------------+------+--------+-------+---+--------+--------+
| Rajburi Sugar Co.,     | Rel  | 2,290, | 850,6 |   | -      | -      |
| Ltd.                   | ated | 610.55 | 49.35 |   |        |        |
+------------------------+------+--------+-------+---+--------+--------+
|   Total                |      | 1      | 9,    |   | 26     | 5      |
|                        |      | 6,271, | 220,3 |   | 4,710, | 1,988, |
|                        |      | 212.74 | 84.52 |   | 646.35 | 010.57 |
+------------------------+------+--------+-------+---+--------+--------+

  (Unit : Baht)

+------------------------+------+--------+-------+---+--------+--------+
|   Type of              | Rela | Consol |       |   | Se     |        |
|   Transaction/Company  | tion | idated |       |   | parate |        |
|   Name                 | ship | fin    |       |   | fin    |        |
|                        |      | ancial |       |   | ancial |        |
|                        |      | stat   |       |   | stat   |        |
|                        |      | ements |       |   | ements |        |
+------------------------+------+--------+-------+---+--------+--------+
|                        |      | For    |       |   |        |        |
|                        |      | the    |       |   |        |        |
|                        |      | Years  |       |   |        |        |
|                        |      | ended  |       |   |        |        |
|                        |      | on     |       |   |        |        |
|                        |      | O      |       |   |        |        |
|                        |      | ctober |       |   |        |        |
|                        |      | 31,    |       |   |        |        |
+------------------------+------+--------+-------+---+--------+--------+
|                        |      | 2007   | 2006  |   | 2007   | 2006   |
+------------------------+------+--------+-------+---+--------+--------+
|   - Interest Incomes   |      |        |       |   |        |        |
+------------------------+------+--------+-------+---+--------+--------+
|   Tamaka Sugar         | Su   | -      | -     |   | 2,724, | -      |
|   Industry Co., Ltd.   | bsid |        |       |   | 592.59 |        |
|                        | iary |        |       |   |        |        |
+------------------------+------+--------+-------+---+--------+--------+
|   New Krung Thai Sugar | Su   | -      | -     |   | 2,693, | -      |
|   Factory Co., Ltd.    | bsid |        |       |   | 372.06 |        |
|                        | iary |        |       |   |        |        |
+------------------------+------+--------+-------+---+--------+--------+
|   New Kwang Soon Lee   | Su   | -      | -     |   | 4,059, | -      |
|   Sugar Factory Co.,   | bsid |        |       |   | 889.30 |        |
|   Ltd.                 | iary |        |       |   |        |        |
+------------------------+------+--------+-------+---+--------+--------+
|   K.S.L. Real Estate   | Su   | -      | -     |   | 823,   | 438,   |
|   Co., Ltd.            | bsid |        |       |   | 433.36 | 008.19 |
|                        | iary |        |       |   |        |        |
+------------------------+------+--------+-------+---+--------+--------+
|   Khon Kaen Sugar      | Su   | -      | -     |   | 254,   | -      |
|   Power Plant Co.,     | bsid |        |       |   | 597.26 |        |
|   Ltd.                 | iary |        |       |   |        |        |
+------------------------+------+--------+-------+---+--------+--------+
|   Khon Kaen Alcohol    | Su   | -      | -     |   | 3,393, | -      |
|   Co., Ltd.            | bsid |        |       |   | 376.40 |        |
|                        | iary |        |       |   |        |        |
+------------------------+------+--------+-------+---+--------+--------+
|   KSL Chemical Co.,    | Su   | -      | -     |   | 5,     | -      |
|   Ltd.                 | bsid |        |       |   | 671.24 |        |
|                        | iary |        |       |   |        |        |
+------------------------+------+--------+-------+---+--------+--------+
|   KSL. Agro Co., Ltd.  | Su   | -      | -     |   | -      | 738,   |
|                        | bsid |        |       |   |        | 547.93 |
|                        | iary |        |       |   |        |        |
+------------------------+------+--------+-------+---+--------+--------+
|   Total                |      | -      | -     |   | 1      | 1,176, |
|                        |      |        |       |   | 3,954, | 556.12 |
|                        |      |        |       |   | 932.21 |        |
+------------------------+------+--------+-------+---+--------+--------+
|                        |      |        |       |   |        |        |
+------------------------+------+--------+-------+---+--------+--------+
|   - Goods Custody and  |      |        |       |   |        |        |
|   Exporting Fees       |      |        |       |   |        |        |
+------------------------+------+--------+-------+---+--------+--------+
|   Thai Sugar Terminal  | Su   | -      | -     |   | 3,756, | 2,036, |
|   Public Co., Ltd.     | bsid |        |       |   | 682.11 | 967.15 |
|                        | iary |        |       |   |        |        |
+------------------------+------+--------+-------+---+--------+--------+
|   K.S.L. Export        | Su   | -      | -     |   | 2,809, | 608,   |
|   Trading Co., Ltd.    | bsid |        |       |   | 057.89 | 880.12 |
|                        | iary |        |       |   |        |        |
+------------------------+------+--------+-------+---+--------+--------+
|   TS Warehouse Co.,    | Su   | -      | -     |   | 1,604, | 413,   |
|   Ltd.                 | bsid |        |       |   | 921.80 | 134.58 |
|                        | iary |        |       |   |        |        |
+------------------------+------+--------+-------+---+--------+--------+
|   Kerry Siam Seaport   | Rel  | 6,616, | 71,7  |   | 6,616, | 71,    |
|   Co., Ltd.            | ated | 987.97 | 24.15 |   | 987.97 | 724.15 |
+------------------------+------+--------+-------+---+--------+--------+
|   Total                |      | 6,616, | 71,7  |   | 1      | 3,130, |
|                        |      | 987.97 | 24.15 |   | 4,787, | 706.00 |
|                        |      |        |       |   | 649.77 |        |
+------------------------+------+--------+-------+---+--------+--------+
|                        |      |        |       |   |        |        |
+------------------------+------+--------+-------+---+--------+--------+
|   - Other Expenses     |      |        |       |   |        |        |
+------------------------+------+--------+-------+---+--------+--------+
|   Tamaka Sugar         | Su   | -      | -     |   | 6,     | 118,   |
|   Industry Co., Ltd.   | bsid |        |       |   | 045.00 | 398.92 |
|                        | iary |        |       |   |        |        |
+------------------------+------+--------+-------+---+--------+--------+
|   New Krung Thai Sugar | Su   | -      | -     |   | 21,    | 71,    |
|   Factory Co., Ltd.    | bsid |        |       |   | 616.00 | 736.00 |
|                        | iary |        |       |   |        |        |
+------------------------+------+--------+-------+---+--------+--------+
|   New Kwang Soon Lee   | Su   | -      | -     |   | -      | 9,     |
|   Sugar Factory Co.,   | bsid |        |       |   |        | 300.00 |
|   Ltd.                 | iary |        |       |   |        |        |
+------------------------+------+--------+-------+---+--------+--------+
|   K.S.L. Real Estate   | Su   | -      | -     |   | 162,   | 12,    |
|   Co., Ltd.            | bsid |        |       |   | 435.75 | 006.54 |
|                        | iary |        |       |   |        |        |
+------------------------+------+--------+-------+---+--------+--------+
|   Khon Kaen Alcohol    | Su   | -      | -     |   | 7,811, | 412,   |
|   Co., Ltd.            | bsid |        |       |   | 464.82 | 100.00 |
|                        | iary |        |       |   |        |        |
+------------------------+------+--------+-------+---+--------+--------+
|   Khon Kaen Sugar      | Su   | -      | -     |   | 1,300, | -      |
|   Power Plant Co.,     | bsid |        |       |   | 006.88 |        |
|   Ltd.                 | iary |        |       |   |        |        |
+------------------------+------+--------+-------+---+--------+--------+
|   Thai Fermentation    | Rel  | 110,   | 148,8 |   | 37,    | 96,    |
|   Industry Co., Ltd.   | ated | 089.20 | 89.99 |   | 635.29 | 801.57 |
+------------------------+------+--------+-------+---+--------+--------+
|   K.S.L. IT Center     | Rel  | 7,077, | 5,    |   | 2,280, | 1,505, |
|   Co., Ltd.            | ated | 232.92 | 194,1 |   | 813.65 | 978.93 |
|                        |      |        | 37.32 |   |        |        |
+------------------------+------+--------+-------+---+--------+--------+
|   Rajburi Sugar Co.,   | Rel  | 183,   | 99,0  |   | -      | -      |
|   Ltd.                 | ated | 382.50 | 00.00 |   |        |        |
+------------------------+------+--------+-------+---+--------+--------+
|   K.S.L. Tower         | Rel  | 8,331, | 8,    |   | 8,331, | 8,189, |
|   Juristic Person      | ated | 513.83 | 189,0 |   | 513.83 | 060.85 |
|   Office               |      |        | 60.85 |   |        |        |
+------------------------+------+--------+-------+---+--------+--------+
|   Ban Pong Intertrade  | Rel  | -      | 8,    |   | -      | -      |
|   Co., Ltd.            | ated |        | 428,6 |   |        |        |
|                        |      |        | 57.12 |   |        |        |
+------------------------+------+--------+-------+---+--------+--------+
|   Total                |      | 1      | 22,   |   | 1      | 1      |
|                        |      | 5,702, | 059,7 |   | 9,951, | 0,415, |
|                        |      | 218.45 | 45.28 |   | 531.22 | 382.81 |
+------------------------+------+--------+-------+---+--------+--------+
|                        |      |        |       |   |        |        |
+------------------------+------+--------+-------+---+--------+--------+
|   - Value of Assets    |      |        |       |   |        |        |
|   Purchased            |      |        |       |   |        |        |
+------------------------+------+--------+-------+---+--------+--------+
|   New Kwang Soon Lee   | Su   | -      | -     |   | 4,290, | -      |
|   Sugar Factory Co.,   | bsid |        |       |   | 000.00 |        |
|   Ltd.                 | iary |        |       |   |        |        |
+------------------------+------+--------+-------+---+--------+--------+
|   K.S.L. Export        | Su   | -      | -     |   | 7,050, | -      |
|   Trading Co., Ltd.    | bsid |        |       |   | 871.50 |        |
|                        | iary |        |       |   |        |        |
+------------------------+------+--------+-------+---+--------+--------+
|   Khon Kaen Alcohol    | Su   | -      | -     |   | 1,773, | -      |
|   Co., Ltd.            | bsid |        |       |   | 500.00 |        |
|                        | iary |        |       |   |        |        |
+------------------------+------+--------+-------+---+--------+--------+
|                        |      | -      | -     |   | 1      | -      |
|                        |      |        |       |   | 3,114, |        |
|                        |      |        |       |   | 371.50 |        |
+------------------------+------+--------+-------+---+--------+--------+
|                        |      |        |       |   |        |        |
+------------------------+------+--------+-------+---+--------+--------+
|   - Interest Expenses  |      |        |       |   |        |        |
+------------------------+------+--------+-------+---+--------+--------+
|   Tamaka Sugar         | Su   | -      | -     |   | 1,662, | 1,894, |
|   Industry Co., Ltd.   | bsid |        |       |   | 842.47 | 342.45 |
|                        | iary |        |       |   |        |        |
+------------------------+------+--------+-------+---+--------+--------+
|   New Krung Thai Sugar | Su   | -      | -     |   | 769,   | -      |
|   Factory Co., Ltd.    | bsid |        |       |   | 479.45 |        |
|                        | iary |        |       |   |        |        |
+------------------------+------+--------+-------+---+--------+--------+
|   K.S.L. Export        | Su   | -      | -     |   | 2,502, | -      |
|   Trading Co., Ltd.    | bsid |        |       |   | 027.41 |        |
|                        | iary |        |       |   |        |        |
+------------------------+------+--------+-------+---+--------+--------+
|   Khon Kaen Sugar      | Su   | -      | -     |   | 560,   | 5,154, |
|   Power Plant Co.,     | bsid |        |       |   | 178.07 | 363.02 |
|   Ltd.                 | iary |        |       |   |        |        |
+------------------------+------+--------+-------+---+--------+--------+
|   Total                |      | -      | -     |   | 5,494, | 7,048, |
|                        |      |        |       |   | 527.40 | 705.47 |
+------------------------+------+--------+-------+---+--------+--------+

Policy of Inter-Price Setting 

  - The inter-swapping goods for export, the Company uses the world
  market price that the sales-purchase is made for the first time of
  that year to be the price of sales-purchase of sugar between the
  Company’s group.

  - The inter-sales-purchase goods for local sales, the Company has the
  policy to use mutually agreed price which is higher than cost price .

  - Rental income are charged according to follow the normal price
  charged to general clients.

  - The sales-purchase properties plants and equipment are charged
  according to the mutually agreed agreements which is higher than cost
  price.

  - Revenue from selling of supplies are charged according to the cost.

  - Income from land leased out to a subsidiary company was charged
  according to agreement, of which term is for 30 years, starting from
  January 25, 2005 until January 24, 2035 at annual fee of Baht 0.11
  million to be increased by 10% for every three years. Once the lease
  is expired, ownership rights on all constructions built on the leased
  land were vested in the lessor.

  - Inter-Service income ,other income and expense are charged according
  to follow the normal price charged to general clients.

  - Fees for goods custody are charged according to the volume of the
  goods and the custody time, which are general rates in the market.

  - The expenses paid on behalf of each other are charged according to
  actual expenses.

  11.3 Relationship of Related Companies

Consisted of: -

+----------------------------+------------+----------------------------+
| Company Name               | Re         | Connection                 |
|                            | lationship |                            |
+----------------------------+------------+----------------------------+
| K.S.L. IT Center Co., Ltd. | Relat      | Same shareholder Group     |
|                            | ed Company | /Mutual directors          |
+----------------------------+------------+----------------------------+
| Chengteh Chinaware         | Relat      | Same shareholder Group     |
| (Thailand) Co., Ltd.       | ed Company | /Mutual directors          |
+----------------------------+------------+----------------------------+
| On Nuj Construction Co.,   | Relat      | Same shareholder Group     |
| Ltd.                       | ed Company | /Mutual directors          |
+----------------------------+------------+----------------------------+
| TS Transport and Logistics | Relat      | Same shareholder Group     |
| Co., Ltd.                  | ed Company | /Mutual directors          |
+----------------------------+------------+----------------------------+
| K.K. Wood Industry Co.,    | Relat      | Same shareholder Group     |
| Ltd.                       | ed Company |                            |
+----------------------------+------------+----------------------------+
| Amarco Co., Ltd.           | Relat      | Same shareholder Group     |
|                            | ed Company |                            |
+----------------------------+------------+----------------------------+
| Thai Fermentation Industry | Relat      | Same shareholder Group     |
| Co., Ltd.                  | ed Company |                            |
+----------------------------+------------+----------------------------+
| Rajburi Sugar Co., Ltd.    | Relat      | Mutual directors in        |
|                            | ed Company | Subsidiary                 |
+----------------------------+------------+----------------------------+
| Mitr Kaset Sugar Industry  | Relat      | Mutual directors in        |
| Co., Ltd.                  | ed Company | Subsidiary                 |
+----------------------------+------------+----------------------------+
| Eastern Sugar and Sugar    | Relat      | Mutual directors in        |
| Cane Co., Ltd.             | ed Company | Subsidiary                 |
+----------------------------+------------+----------------------------+
| Kerry Siam Seaport Co.,    | Relat      | Directors of the Related   |
| Ltd.                       | ed Company | Company                    |
+----------------------------+------------+----------------------------+
| KSL Tower Juristic Person  | Rel        | Shared Owner of            |
| office                     | ated Juris | Condominium Building       |
|                            | tic Person |                            |
+----------------------------+------------+----------------------------+
| Ban Pong Intertrade Co.,   | Relat      | Same shareholder Group in  |
| Ltd.                       | ed Company | Subsidiary                 |
+----------------------------+------------+----------------------------+

Prachaup Industry Co., Ltd. held no part in management of the Company,
but is a related company, where some directors of Prachuap Industry Co.,
Ltd. are also directors of Thai Sugar Terminal Public Co.,Ltd. and
K.S.L. Export Trading Co., Ltd. which are subsidiary companies of Khon
Kaen Sugar Industry Public Company Limited.