7.  Capital structure

  ( 1 ) Security of company

  The Company’s registered capital is 381,146,251 baht, paid up of
  381,145,725 baht, divided into 381,145,725 common shares and each with
  par value of 1 baht.

  ( 2 ) Shareholders as at March 15, 2011

+------------------------------------------+-------------+-------------+
| The first ten major shareholders         | Amount of   | Percentages |
|                                          | shares      |             |
+------------------------------------------+-------------+-------------+
| 1.  Nortern Agricultural Co., Ltd.       | 66,755,700  | 17.51       |
+------------------------------------------+-------------+-------------+
| 2.  Itochu Corporation                   | 50,440,665  | 13.23       |
+------------------------------------------+-------------+-------------+
| 3.  Itochu (Thailand) Ltd.               | 25,789,335  | 6.77        |
+------------------------------------------+-------------+-------------+
| 4.  Nomura Securities Co., Ltd.          | 19,057,313  | 5.00        |
+------------------------------------------+-------------+-------------+
| 5.  Mr. Lan Mu Chiou + spouse            | 18,030,830  | 4.73        |
+------------------------------------------+-------------+-------------+
| 6.  Mr.Prapas Pholpipattanaphong +       | 16,066,200  | 4.22        |
|     spouse                               |             |             |
+------------------------------------------+-------------+-------------+
| 7.  Thai and VDR Co., Ltd.               | 14,835,747  | 3.89        |
+------------------------------------------+-------------+-------------+
| 8.  Mr. Suphat Pholpipattanaphong        | 14,826,839  | 3.89        |
+------------------------------------------+-------------+-------------+
| 9.  Miss Chang, Min - Fang               | 8,572,730   | 2.25        |
+------------------------------------------+-------------+-------------+
| 10.Bank Julius Baer and Co., Ltd.        | 8,000,000   | 2.10        |
+------------------------------------------+-------------+-------------+
| Total                                    | 242,375,359 | 63.59       |
+------------------------------------------+-------------+-------------+
| Other Shareholders                       | 138,770,366 | 36.41       |
+------------------------------------------+-------------+-------------+
| Total                                    | 381,145,725 | 100.00      |
+------------------------------------------+-------------+-------------+
| Thai Nationality Shareholders            | 221,412,163 | 58.09       |
+------------------------------------------+-------------+-------------+
| Foreign Nationality Shareholders         | 159,733,562 | 41.91       |
+------------------------------------------+-------------+-------------+
| Japanese                                 | 78,447,470  | 20.58       |
+------------------------------------------+-------------+-------------+
| Taiwanese                                | 51,480,878  | 13.51       |
+------------------------------------------+-------------+-------------+
| English                                  | 19,452,801  | 5.11        |
+------------------------------------------+-------------+-------------+
| Swiss                                    | 8,098,150   | 2.12        |
+------------------------------------------+-------------+-------------+
| American                                 | 1,988,756   | 0.52        |
+------------------------------------------+-------------+-------------+
| German                                   | 229,090     | 0.06        |
+------------------------------------------+-------------+-------------+
| Others                                   | 36,417      | 0.01        |
+------------------------------------------+-------------+-------------+

( 3 ) Dividend payment policy

Normally, the company has a policy to pay dividend 60% of net profit
except in case there is a plan to expand investment, then will consider
to pay dividend as financial appropriate.

Record of Dividend and Stock Dividend payments

+-------------+-------------+-------------+-------------+-------------+
| Year        | Rate        | Amount      | Date of     | Dividend    |
|             |             |             | closing     | payment     |
|             | (           | of shares   | register    |             |
|             | Baht/share) |             | book for    | dates       |
|             |             | (in         | the right   |             |
|             |             | million)    | of dividend |             |
+-------------+-------------+-------------+-------------+-------------+
| 2006        | 0.35        | 314,997,360 | May 02,2007 | May 23,2007 |
+-------------+-------------+-------------+-------------+-------------+
| 2007        | 0.30        | 346,496,592 | May 13,2008 | May 30,2008 |
+-------------+-------------+-------------+-------------+-------------+
| 2008        | 0.40        | 346,496,592 | May         | May 29,2009 |
|             |             |             | 13-14,2009  |             |
+-------------+-------------+-------------+-------------+-------------+
| 2009        | 0.25        | 381,145,725 | Aug         | Sep.11,2009 |
|             |             |             | .28,31,2009 |             |
+-------------+-------------+-------------+-------------+-------------+
| 2009        | 0.25        | 381,145,725 | May         | May 27,2010 |
|             |             |             | 13-14,2010  |             |
+-------------+-------------+-------------+-------------+-------------+
| 2010        | 0.35        | 381,145,725 | May         | May 27,2011 |
|             |             |             | 12-13,2011  |             |
+-------------+-------------+-------------+-------------+-------------+
| 2011        | 0.14        | 381,145,725 | Mar         | May 11,2012 |
|             |             |             | .13-14,2012 |             |
+-------------+-------------+-------------+-------------+-------------+

  --------------------- ------------ --------- --------- --------- --------- --------- ---------
  Items                 Unit         2011      2010      2009      2008      2007      2006

  Net                   ,000baht     55,796    158,188   211,167   142,306   99,920    105,737
  profit-Consolidated                                                                  

  Amount of shares      ,000shares   381,146   381,146   381,146   346,497   346,497   314,997

  Par value             Baht/share   1.00      1.00      1.00      1.00      1.00      1.00

  Profit per shares     Baht/share   0.15      0.42      0.55      0.37      0.30      0.34

  Book value            Baht/share   3.07      3.33      3.17      3.14      3.46      3.61

  Annual dividend       ,000baht     53,360    133,401   190,573   103,949   103,949   78,749

  Stock dividend        ,000baht     -         -         -         34,650    -         31,500

  Annual dividend       Baht/share   0.14      0.35      0.50      0.30      0.30      0.25

  Stock dividend        Baht/share   -         -         -         0.10      -         0.10

  Payout ratio          %            95.63     84.33     90.25     97.39     104.03    104.27
  --------------------- ------------ --------- --------- --------- --------- --------- ---------

Remark: Weighted average number of common shares for the year 2006 =
314,997,360 shares and year 2007 = 334,242,096 shares.

Rights and equality of shareholders

Board of Company have fully realized an important of shareholders by
intending the shareholders to be treated equally on the process of good
corporate governance. The Company then opens a chance for the
shareholders to participate by presenting the subject that think its
important to put in the agenda of Ordinary Shareholder Meeting and
presenting person name of knowledgeable, competent and appropriate
qualified for receiving consideration of electing as company director
and enable to send the question concerning agenda of meeting to the
Board of Director in advanced before meeting day and the company is
still aware of the right of shareholders in receiving the company
information with correct, sufficient, in time and equal to make decision
in Shareholder Meeting. Therefore, in every Shareholder Meeting, the
company will send a letter of convening meeting with document
information for meeting that contains full details and sufficient
inclusive Board of Company comments in every agenda toward securities
registrar of the company in order to reach in hand of the shareholders
before meeting 14 days as fixed by law and the shareholders are still
able to study an information for meeting in advanced through website of
the company at least 30 days before Shareholder Meeting day to open a
chance to the shareholders having time to study such information in
details. Besides, the company has still given facilities to the
shareholders in participating the Shareholders Meeting by fixing day,
time and venue to reach convenient and having appropriate size for
serving meeting attendant sufficiently and in case the shareholders are
unable to attend the meeting by themselves then able to delegate other
persons or Independent Director of either of their company to attend and
cast a vote by proxy.

Shareholders’ Meetings

Board of Company manage to have Shareholder Meeting as Annual Ordinary
Meeting within 4 months from the date ended of accounting year of the
company and have a policy to give facilities to every shareholder
equally, open a chance for shareholders to inquire suspicion, propose an
opinion and use the right to vote clearly and justice and manage minutes
of a meeting completely and spread out minutes of a meeting toward the
Securities and Stock Exchange of Thailand and report through website of
the company within 14 days from date of Shareholder Meeting.

Basis and method of casting a vote in electing director are as follows:

1.  One shareholder has a vote equal to one share/one vote.

2.  Each shareholder must use all existing vote as 1 to elect one person
    or many persons as director but can not share the vote to anyone
    more or less.

3.  A person which receives maximum vote respectively shall be elected
    as director equal to number of available director as it must be and
    must elect in that time. In case a person which is elected
    respectively by having equal vote exceed number of director that
    must have or must elect in that time, let the Chairman vote for
    arbitrating.