2.5 Utilization of Assets

The Company has its office situated at Thanapoom Tower Building,
4-5^(th) Floors, No. 1550 New Petchburi Road, Rajthevee, Bangkok 10400
by renting the building from Thai City Electric Co., Ltd. The list of
Company’s major assets as at 31 December 2007 are as follows:

+--------------+-------------+------------+------------+-------------+
| Items        | Remaining   | Book Value | Rights     | Collateral  |
|              | useful      |            |            | /Commitment |
|              | lives       | (Baht)     | Chara      |             |
|              |             |            | cteristics | from the    |
|              | (period)    |            |            | loan        |
|              |             |            |            | Contract    |
+--------------+-------------+------------+------------+-------------+
| Premises     | 7-54        | 6,193,607  | owner      | none        |
| improvement  |             |            |            |             |
+--------------+-------------+------------+------------+-------------+
| Vehicles     | 58          | 1,066,670  | owner      | none        |
+--------------+-------------+------------+------------+-------------+
| Office       | 1-60        | 3,385,168  | owner      | none        |
| Equipment    |             |            |            |             |
+--------------+-------------+------------+------------+-------------+
| Office       | 6-60        | 7,603,414  | owner      | none        |
| Furniture    |             |            |            |             |
+--------------+-------------+------------+------------+-------------+
| Computer     | 1-35        | 1,507,900  | owner      | none        |
+--------------+-------------+------------+------------+-------------+
| Computer ¹   | 3           | 471,230    | leasing    | none        |
+--------------+-------------+------------+------------+-------------+
| Office       | -           | 241,700    | owner      | none        |
| furniture &  |             |            |            |             |
| equipment    |             |            |            |             |
| under        |             |            |            |             |
| installation |             |            |            |             |
+--------------+-------------+------------+------------+-------------+
| Total        |             | 20,469,689 |            |             |
+--------------+-------------+------------+------------+-------------+

  Remark ¹ The company had made a computer leasing contract with HPFS
  Leasing (Thailand) Co. Totaling 12,093,196.55 Baht for 36 installment
  periods.

Classification of Assets and Allowance for Doubtful Accounts Policy

The Company has laid down its policy on assets classification and
provisions in accordance with the SEC’s Rules. Debts especially on
margin loan were classified as doubtful loss, doubtful debt or
substandard debt. The doubtful loss debt is identified as the loan
balance which after every efforts of collection, the debt still remains
unpaid. The substandard debt means the loan balance which is not higher
than the collateralized portion of loans and the doubtful debt is the
debt which the loan balance is higher than the collateralized portion of
the value of debt.

With such classification of assets, the Company has set up a policy for
the Allowance for Doubtful Accounts to be 100% of the uncollateralized
portion of the value of debts.

The Unrecognizing of Revenue Policy

Unsettled transactions will not be recognized as company’s revenue if
they were not settled within 3 months and the Company will set up the
allowance for doubtful debts amount in the rate not less than 100 % of
the loan balance for the uncollateralized portion of the value of debts.

The Allowance for Impairment of Assets Policy

The Company has set up an allowance for impairment of assets policy by estimating its asset whether there was an indication that such asset might be impaired. The Company would compare the book value with the asset’s recoverable amount. When the book value exceeded its recoverable amount, the Company would set up the allowance for impairment of assets. An asset’s recoverable amount was the higher of fair value less costs to sell and value in use. However, the Company considered the allowance for impairment of its assets in the case that there was an indication that such asset might be impaired in accordance with the General Accounting Standard No. 36 concerning the Impairment of Assets. 

Investment in Subsidiary and Merged Company Policy

The Company has set up an investment in subsidiary and merged company
policy for the purpose of expansion of its business, spread the risk by
diversifying its investment including consideration on benefit obtained
from efficient use of existing resources and also consideration on
appropriate rate of return depending on type of businesses. For the
management policy, it mainly considered on shareholders’ benefits in
general.

Moreover, the decision of designated persons and its numbers to join in
the management of such subsidiary and merged company will be considered
on a case by case basis with the partners.

On 17 January, 2008 the Company had started a joint venture with Mr.
Verajet Vongkusolkit and his family to open a subsidiary company, namely
United Asset Management Company Limited to undertake Private Fund
Management business. The subsidiary company has a registered capital of
25,000,000 Baht divided into 250,000 shares at 100 Baht par value. The
Company’s total investment is 51% or in the amount of not exceeding
12,750,000 Baht and the subsidiary company is expected to begin its
operation around April, 2008 after receiving the license from the
Ministry of Finance.