10. Connected Transactions

For the year ended 31 December 2012 and 31 December 2011, the Company
has connected transactions with persons who have potential conflict of
interest with the Company i.e., shareholders, related companies having
common shareholders or directors, associated companies, and related
joint venture, which are described in “Notes to Financial Statements”.
The details of connected transactions are as follows:

Normal Business Transactions

Unit: Million Baht

+---+------------+------------+--------+--------+-------------------+
| I | IVL/S      | Type of    | Year   | Year   | Necessity and     |
| t | ubsidiary- | T          | Ended  | Ended  | reasonableness    |
| e |            | ransaction |        |        |                   |
| m | Party      |            | 31     | 31     |                   |
|   | having     |            | De     | De     |                   |
|   | Conflict   |            | cember | cember |                   |
|   | of         |            | 2011   | 2012   |                   |
|   | Interest   |            |        |        |                   |
+===+============+============+========+========+===================+
| 1 | Indorama   | Indorama   | 6,     | 4,     | Indo Rama         |
|   | Petrochem  | Petrochem  | 250.95 | 831.26 | Synthetics        |
|   | Ltd. and   | Ltd. and   |        |        | (India) Ltd. is a |
|   | TPT        | TPT        | 1,     | 1,     | Polyester         |
|   | Petr       | Petr       | 394.15 | 280.02 | manufacture and   |
|   | ochemicals | ochemicals |        |        | distributor,      |
|   | PCL – Indo | PCL sell   |        |        | which use PTA as  |
|   | Rama       | PTA to     |        |        | a major raw       |
|   | Synthetics | Indo Rama  |        |        | material.         |
|   | (India)    | Synthetics |        |        |                   |
|   | Ltd.       | (India)    |        |        | Pricing method:   |
|   |            | Ltd.       |        |        |                   |
|   | Rela       |            |        |        | Negotiated per    |
|   | tionship:  | Total      |        |        | market rate as    |
|   |            |            |        |        | applicable to     |
|   | Mr. O.P.   | Accounts   |        |        | other customers.  |
|   | Lohia, a   | receivable |        |        |                   |
|   | major      |            |        |        | Terms of credit:  |
|   | s          |            |        |        |                   |
|   | hareholder |            |        |        | 90 days           |
|   | of Indo    |            |        |        |                   |
|   | Rama       |            |        |        | Going Forward:    |
|   | Synthetics |            |        |        |                   |
|   | (India)    |            |        |        | This transaction  |
|   | Ltd., is a |            |        |        | will continue on  |
|   | blood      |            |        |        | the above normal  |
|   | brother of |            |        |        | terms and         |
|   | Mr. Aloke  |            |        |        | conditions.       |
|   | Lohia,     |            |        |        |                   |
|   | director   |            |        |        |                   |
|   | of         |            |        |        |                   |
|   | Indorama   |            |        |        |                   |
|   | Petrochem  |            |        |        |                   |
|   | Ltd. and   |            |        |        |                   |
|   | TPT        |            |        |        |                   |
|   | Petr       |            |        |        |                   |
|   | ochemicals |            |        |        |                   |
|   | PCL.       |            |        |        |                   |
+---+------------+------------+--------+--------+-------------------+
| 2 | Indorama   | Indorama   | 624.23 | 715.25 | PT. Indorama      |
|   | Petrochem  | Petrochem  |        |        | Synthetics Tbk is |
|   | Ltd. and   | Ltd. and   | Nil    | 53.20  | a Polyester       |
|   | TPT        | TPT        |        |        | manufacture and   |
|   | Petr       | Petr       |        |        | distributor,      |
|   | ochemicals | ochemicals |        |        | which use PTA as  |
|   | PCL – PT.  | PCL sell   |        |        | a major raw       |
|   | Indorama   | PTA to PT. |        |        | material.         |
|   | Synthetics | Indorama   |        |        |                   |
|   | Tbk        | Synthetics |        |        | Pricing method:   |
|   |            | Tbk        |        |        |                   |
|   | Rela       |            |        |        | Negotiated per    |
|   | tionship:  | Total      |        |        | market rate as    |
|   |            |            |        |        | applicable to     |
|   | Mr. S.P.   | Accounts   |        |        | other customers.  |
|   | Lohia      | receivable |        |        |                   |
|   | family     |            |        |        | Terms of credit:  |
|   | holds      |            |        |        |                   |
|   | directly   |            |        |        | 45 days           |
|   | or         |            |        |        |                   |
|   | i          |            |        |        | Going Forward:    |
|   | ndirectly, |            |        |        | This transaction  |
|   | majority   |            |        |        | will continue on  |
|   | sh         |            |        |        | the above normal  |
|   | areholding |            |        |        | terms and         |
|   | in PT.     |            |        |        | conditions.       |
|   | Indorama   |            |        |        |                   |
|   | Synthetics |            |        |        |                   |
|   | Tbk; Mr.   |            |        |        |                   |
|   | S.P Lohia  |            |        |        |                   |
|   | is the     |            |        |        |                   |
|   | President  |            |        |        |                   |
|   | Co         |            |        |        |                   |
|   | mmissioner |            |        |        |                   |
|   | and Mr.    |            |        |        |                   |
|   | Amit Lohia |            |        |        |                   |
|   | is the     |            |        |        |                   |
|   |            |            |        |        |                   |
|   | President  |            |        |        |                   |
|   | Director   |            |        |        |                   |
|   | of PT.     |            |        |        |                   |
|   | Indorama   |            |        |        |                   |
|   | Synthetics |            |        |        |                   |
|   | Tbk, and   |            |        |        |                   |
|   | Mr. S.P.   |            |        |        |                   |
|   | Lohia is   |            |        |        |                   |
|   | the        |            |        |        |                   |
|   | Chairman   |            |        |        |                   |
|   | of IVL,    |            |        |        |                   |
|   | Mr. Amit   |            |        |        |                   |
|   | Lohia is   |            |        |        |                   |
|   | the        |            |        |        |                   |
|   | Director   |            |        |        |                   |
|   | of IVL     |            |        |        |                   |
+---+------------+------------+--------+--------+-------------------+
| 3 | PT.        | PT.        | 139.18 | 200.76 | PT. Indorama      |
|   | Indorama   | Indorama   |        |        | Synthetics Tbk is |
|   | Ventures   | Ventures   | 17.98  | 19.28  | a Polyester       |
|   | I          | Indonesia  |        |        | manufacture and   |
|   | ndonesia - | sells      |        |        | distributor,      |
|   | PT.        | Polyester  |        |        | which use         |
|   | Indorama   | Filament   |        |        | Filament Yarn as  |
|   | Synthetics | Yarn to    |        |        | a major raw       |
|   | Tbk        | PT.        |        |        | material.         |
|   |            | Indorama   |        |        |                   |
|   | Rela       | Synthetics |        |        | Pricing method:   |
|   | tionship:  | Tbk        |        |        |                   |
|   |            |            |        |        | Negotiated per    |
|   | Mr. S.P.   | Total      |        |        | market rate as    |
|   | Lohia      |            |        |        | applicable to     |
|   | family     | Accounts   |        |        | other customers.  |
|   | holds      | receivable |        |        |                   |
|   | directly   |            |        |        | Terms of credit:  |
|   | or         |            |        |        |                   |
|   | i          |            |        |        | 30 days           |
|   | ndirectly, |            |        |        |                   |
|   | majority   |            |        |        | Going Forward:    |
|   | sh         |            |        |        | This transaction  |
|   | areholding |            |        |        | will continue on  |
|   | in PT.     |            |        |        | the above normal  |
|   | Indorama   |            |        |        | terms and         |
|   | Synthetics |            |        |        | conditions.       |
|   | Tbk; Mr.   |            |        |        |                   |
|   | S.P Lohia  |            |        |        |                   |
|   | is the     |            |        |        |                   |
|   | President  |            |        |        |                   |
|   | Co         |            |        |        |                   |
|   | mmissioner |            |        |        |                   |
|   | and Mr.    |            |        |        |                   |
|   | Amit Lohia |            |        |        |                   |
|   | is the     |            |        |        |                   |
|   | President  |            |        |        |                   |
|   | Director   |            |        |        |                   |
|   | of PT.     |            |        |        |                   |
|   | Indorama   |            |        |        |                   |
|   | Synthetics |            |        |        |                   |
|   | Tbk, and   |            |        |        |                   |
|   | Mr.S.P.    |            |        |        |                   |
|   | Lohia is   |            |        |        |                   |
|   | the        |            |        |        |                   |
|   | Chairman   |            |        |        |                   |
|   | of IVL,    |            |        |        |                   |
|   | Mr. Amit   |            |        |        |                   |
|   | Lohia is   |            |        |        |                   |
|   | the        |            |        |        |                   |
|   | Director   |            |        |        |                   |
|   | of IVL     |            |        |        |                   |
+---+------------+------------+--------+--------+-------------------+
| 4 | PT.        | PT.        | 3.44   | 0.55   | PT. Indorama      |
|   | Indorama   | Indorama   |        |        | Synthetics Tbk is |
|   | Polyester  | Polyesters | Nil    | Nil    | a Polyester       |
|   | Industries | Industries |        |        | manufacture and   |
|   | Indonesia  | Indonesia  |        |        | distributor,      |
|   | – PT.      | sells      |        |        | which use         |
|   | Indorama   | Polyester  |        |        | Filament Yarn as  |
|   | Synthetics | Filament   |        |        | a major raw       |
|   | Tbk        | Yarn to    |        |        | material.         |
|   |            | PT.        |        |        |                   |
|   | Rela       | Indorama   |        |        | Pricing method:   |
|   | tionship:  | Synthetics |        |        |                   |
|   |            | Tbk        |        |        | Negotiated per    |
|   | Mr. S.P.   |            |        |        | market rate as    |
|   | Lohia      | Total      |        |        | applicable to     |
|   | family     |            |        |        | other customers.  |
|   | holds      | Accounts   |        |        |                   |
|   | directly   | receivable |        |        | Terms of credit:  |
|   | or         |            |        |        |                   |
|   | i          |            |        |        | 30 days           |
|   | ndirectly, |            |        |        |                   |
|   | majority   |            |        |        | Going Forward:    |
|   | sh         |            |        |        | This transaction  |
|   | areholding |            |        |        | will continue on  |
|   | in PT.     |            |        |        | the above normal  |
|   | Indorama   |            |        |        | terms and         |
|   | Synthetics |            |        |        | conditions.       |
|   | Tbk; Mr.   |            |        |        |                   |
|   | S.P Lohia  |            |        |        |                   |
|   | is the     |            |        |        |                   |
|   | President  |            |        |        |                   |
|   |            |            |        |        |                   |
|   | Co         |            |        |        |                   |
|   | mmissioner |            |        |        |                   |
|   | and Mr.    |            |        |        |                   |
|   | Amit Lohia |            |        |        |                   |
|   | is the     |            |        |        |                   |
|   | President  |            |        |        |                   |
|   | Director   |            |        |        |                   |
|   | of PT.     |            |        |        |                   |
|   | Indorama   |            |        |        |                   |
|   | Synthetics |            |        |        |                   |
|   | Tbk, and.  |            |        |        |                   |
|   | Mr. S.P.   |            |        |        |                   |
|   | Lohia is   |            |        |        |                   |
|   | the        |            |        |        |                   |
|   | Chairman   |            |        |        |                   |
|   | of IVL,    |            |        |        |                   |
|   | Mr. Amit   |            |        |        |                   |
|   | Lohia is   |            |        |        |                   |
|   | the        |            |        |        |                   |
|   | Director   |            |        |        |                   |
|   | of IVL     |            |        |        |                   |
+---+------------+------------+--------+--------+-------------------+
| 5 | Indorama   | Indorama   | 19.14  | 451.26 | PT. Indorama      |
|   | Polyester  | Polyesters |        |        | Synthetics Tbk is |
|   | Industries | Industries | 9.47   | 81.08  | a Polyester       |
|   | PCL – PT.  | PCL sells  |        |        | manufacture and   |
|   | Indorama   | Polyester  |        |        | distributor,      |
|   | Synthetics | Fibers to  |        |        | which use         |
|   | Tbk        | PT.        |        |        | Polyester as a    |
|   |            | Indorama   |        |        | major raw         |
|   | Rela       | Synthetics |        |        | material.         |
|   | tionship:  | Tbk        |        |        |                   |
|   |            |            |        |        | Pricing method:   |
|   | Mr. S.P.   | Total      |        |        |                   |
|   | Lohia      |            |        |        | Negotiated per    |
|   | family     | Accounts   |        |        | market rate as    |
|   | holds      | receivable |        |        | applicable to     |
|   | directly   |            |        |        | other customers.  |
|   | or         |            |        |        |                   |
|   | i          |            |        |        | Terms of credit:  |
|   | ndirectly, |            |        |        |                   |
|   | majority   |            |        |        | 30 days after     |
|   | sh         |            |        |        | receving Bill of  |
|   | areholding |            |        |        | Ladding           |
|   | in PT.     |            |        |        |                   |
|   | Indorama   |            |        |        | Going Forward:    |
|   | Synthetics |            |        |        | This transaction  |
|   | Tbk; Mr.   |            |        |        | will continue on  |
|   | S.P Lohia  |            |        |        | the above normal  |
|   | is the     |            |        |        | terms and         |
|   | President  |            |        |        | conditions.       |
|   | Co         |            |        |        |                   |
|   | mmissioner |            |        |        |                   |
|   | and Mr.    |            |        |        |                   |
|   | Amit Lohia |            |        |        |                   |
|   | is the     |            |        |        |                   |
|   | President  |            |        |        |                   |
|   | Director   |            |        |        |                   |
|   | of PT.     |            |        |        |                   |
|   | Indorama   |            |        |        |                   |
|   | Synthetics |            |        |        |                   |
|   | Tbk, and   |            |        |        |                   |
|   | Mr. S.P.   |            |        |        |                   |
|   | Lohia is   |            |        |        |                   |
|   | the        |            |        |        |                   |
|   | Chairman   |            |        |        |                   |
|   | of IVL,    |            |        |        |                   |
|   | Mr. Amit   |            |        |        |                   |
|   | Lohia is   |            |        |        |                   |
|   | the        |            |        |        |                   |
|   | Director   |            |        |        |                   |
|   | of IVL     |            |        |        |                   |
+---+------------+------------+--------+--------+-------------------+
| 6 | Indorama   | Indorama   | Nil    | 17.59  | Indorama          |
|   | Petrochem  | Petrochem  |        |        | Petrochem Limited |
|   | Limited    | and TPT    | Nil    | Nil    | and TPT           |
|   | and TPT    | Petr       |        |        | Petrochemicals    |
|   | Petr       | ochemicals |        |        | PCL uses HAC as   |
|   | ochemicals | PCL        |        |        | one of the raw    |
|   | PCL – PT.  | purchase   |        |        | material          |
|   | Indorama   | raw        |        |        |                   |
|   | Petr       | materials  |        |        | Pricing method:   |
|   | ochemicals | from PT.   |        |        |                   |
|   |            | Indorama   |        |        | Based on the      |
|   | Rel        | Petr       |        |        | sales purchase    |
|   | ationship: | ochemicals |        |        | agreement, the    |
|   |            |            |        |        | prices are linked |
|   | Mr. S.P.   | Total      |        |        |                   |
|   | Lohia,     |            |        |        | to market         |
|   | Chairman   | Accounts   |        |        | conditions.       |
|   | of IVL, is | payable    |        |        |                   |
|   | the        |            |        |        | Terms of credit:  |
|   | President  |            |        |        |                   |
|   | Co         |            |        |        | T/T after 30 days |
|   | mmissioner |            |        |        | from the date of  |
|   | and Mr.    |            |        |        | Bill of Ladding.  |
|   | Amit       |            |        |        |                   |
|   | Lohia,     |            |        |        | Going Forward:    |
|   |            |            |        |        | Accounts          |
|   | Director   |            |        |        | department will   |
|   | of IVL, is |            |        |        | record the actual |
|   | the        |            |        |        | connected         |
|   | President  |            |        |        | transaction       |
|   | Director   |            |        |        | value.            |
|   | of         |            |        |        |                   |
|   |            |            |        |        |                   |
|   | PT.        |            |        |        |                   |
|   | Indorama   |            |        |        |                   |
|   | Petro      |            |        |        |                   |
|   | chemicals. |            |        |        |                   |
|   | In         |            |        |        |                   |
|   | addition,  |            |        |        |                   |
|   | PT.        |            |        |        |                   |
|   | Indorama   |            |        |        |                   |
|   | Synthetics |            |        |        |                   |
|   | Tbk is one |            |        |        |                   |
|   | of the     |            |        |        |                   |
|   | major      |            |        |        |                   |
|   | s          |            |        |        |                   |
|   | hareholder |            |        |        |                   |
|   | of PT.     |            |        |        |                   |
|   | Indorama   |            |        |        |                   |
|   | Petr       |            |        |        |                   |
|   | ochemicals |            |        |        |                   |
|   | and Mr. SP |            |        |        |                   |
|   | Lohia      |            |        |        |                   |
|   | family     |            |        |        |                   |
|   | holds      |            |        |        |                   |
|   | directly   |            |        |        |                   |
|   | or         |            |        |        |                   |
|   | i          |            |        |        |                   |
|   | ndirectly, |            |        |        |                   |
|   | majority   |            |        |        |                   |
|   | sh         |            |        |        |                   |
|   | areholding |            |        |        |                   |
|   | in PT.     |            |        |        |                   |
|   | Indorama   |            |        |        |                   |
|   | Synthetics |            |        |        |                   |
|   | Tbk.       |            |        |        |                   |
+---+------------+------------+--------+--------+-------------------+
| 7 | Wellman    | Wellman    | Nil    | 50.21  | Wellman           |
|   | Int        | Int        |        |        | International     |
|   | ernational | ernational | Nil    | Nil    | Limited purchases |
|   | Ltd. - PT. | Limited    |        |        | sub standard PET  |
|   | Indorama   | purchases  |        |        | chips from many   |
|   | Synthetics | S          |        |        | sources around    |
|   | Tbk        | ubstandard |        |        | the world         |
|   |            | PET Chips  |        |        | including from    |
|   | Rela       | from PT.   |        |        | PT. Indorama      |
|   | tionship:  | Indorama   |        |        | Synthetics Tbk.   |
|   |            | Synthetics |        |        | Wellman           |
|   | Mr. S.P.   | Tbk        |        |        | International     |
|   | Lohia      |            |        |        | Limited has a     |
|   | family     | Total      |        |        | monthly           |
|   | holds      |            |        |        | production cycle  |
|   | directly   | Accounts   |        |        | based on recycled |
|   | or         | payable    |        |        | and/or sub        |
|   | i          |            |        |        | standard          |
|   | ndirectly, |            |        |        | polyester.        |
|   | majority   |            |        |        |                   |
|   | sh         |            |        |        | Pricing method:   |
|   | areholding |            |        |        |                   |
|   | in PT.     |            |        |        | The price paid is |
|   | Indorama   |            |        |        | at arms length    |
|   | Synthetics |            |        |        | basis negotiated  |
|   | Tbk; Mr.   |            |        |        | based on          |
|   | S.P Lohia  |            |        |        | prevailing market |
|   | is the     |            |        |        | prices at the     |
|   | President  |            |        |        | particular time.  |
|   | Co         |            |        |        |                   |
|   | mmissioner |            |        |        | Terms of credit:  |
|   | and Mr.    |            |        |        |                   |
|   | Amit Lohia |            |        |        | 30/60 days after  |
|   | is the     |            |        |        | Bill of Lading .  |
|   | President  |            |        |        |                   |
|   | Director   |            |        |        | Going Forward:    |
|   | of PT.     |            |        |        |                   |
|   | Indorama   |            |        |        | Wellman           |
|   | Synthetics |            |        |        | International     |
|   | Tbk, and   |            |        |        | Limited intent to |
|   | Mr.S.P.    |            |        |        | continue          |
|   | Lohia is   |            |        |        | purchasing        |
|   | the        |            |        |        | polyester         |
|   | Chairman   |            |        |        | waste/sub         |
|   | of IVL,    |            |        |        | standard polymer  |
|   | Mr. Amit   |            |        |        | from PT. Indorama |
|   | Lohia is   |            |        |        | Synthetics Tbk    |
|   | the        |            |        |        | when its          |
|   | Director   |            |        |        | available.        |
|   | of IVL     |            |        |        |                   |
+---+------------+------------+--------+--------+-------------------+

Supporting Normal Business Transactions

Unit: Million Baht

+---+------------+------------+--------+--------+-------------------+
| I | IVL/S      | Type of    | Year   | Year   | Necessity and     |
| t | ubsidiary- | T          | Ended  | Ended  | reasonableness    |
| e |            | ransaction |        |        |                   |
| m | Party      |            | 31     | 31     |                   |
|   | having     |            | De     | De     |                   |
|   | Conflict   |            | cember | cember |                   |
|   | of         |            | 2011   | 2012   |                   |
|   | Interest   |            |        |        |                   |
+===+============+============+========+========+===================+
| 1 | Indorama   | Indorama   | 6.84   | 12.87  | Indorama Pet      |
|   | Pet        | Pet        |        |        | (Nigeria) Ltd.    |
|   | (Nigeria)  |            | Nil    | Nil    | has to pay import |
|   | Ltd. –     | (Nigeria)  |        |        | duty, the company |
|   | Indorama   | Ltd.       |        |        | can use           |
|   | Eleme      | purchases  |        |        | Negotiable Duty   |
|   | Petr       | Negotiable |        |        | Credit            |
|   | ochemicals | Duty       |        |        | Certificate       |
|   | Ltd.       | Credit     |        |        | (NDCC) in lieu of |
|   |            | C          |        |        | cash payment and  |
|   | Rela       | ertificate |        |        | receive the       |
|   | tionship:  | from       |        |        | discount          |
|   |            | Indorama   |        |        |                   |
|   | The        | Eleme      |        |        | Pricing method:   |
|   | ultimate   | Petr       |        |        |                   |
|   | major      | ochemicals |        |        | NDCC are          |
|   | s          | Ltd.       |        |        | purchased at a    |
|   | hareholder |            |        |        | prevailing market |
|   | of         | Total      |        |        | discount rate,    |
|   | Indorama   |            |        |        | the discount      |
|   | Eleme      | Accounts   |        |        | offered to the    |
|   | Petr       | payable    |        |        | Company is more   |
|   | ochemicals |            |        |        | than they offered |
|   | Limited is |            |        |        | to third parties. |
|   | Mr. S.P.   |            |        |        |                   |
|   | Lohia who  |            |        |        | Terms of credit:  |
|   | is a       |            |        |        |                   |
|   | Chairman   |            |        |        | 30 days           |
|   | of         |            |        |        |                   |
|   | Indorama   |            |        |        | Going Forward:    |
|   | Ventures   |            |        |        |                   |
|   | Pcl.       |            |        |        | This transaction  |
|   |            |            |        |        | will continue on  |
|   |            |            |        |        | the above normal  |
|   |            |            |        |        | terms and         |
|   |            |            |        |        | conditions.       |
+---+------------+------------+--------+--------+-------------------+
| 2 | Indorama   | Indorama   | Nil    | 3.24   | Indorama Pet      |
|   | Pet        | Pet        |        |        | (Nigeria) Ltd.    |
|   | (Nigeria)  | (Nigeria)  | Nil    | Nil    | requires power    |
|   | Ltd. –     | Ltd.       |        |        | for its’ SSP      |
|   | Indorama   | purchases  |        |        | Plant operations. |
|   | Eleme      | power from |        |        | Indorama Pet      |
|   | Petr       | Indorama   |        |        | (Nigeria) Ltd.    |
|   | ochemicals | Eleme      |        |        | has requested     |
|   | Limited.   | Petr       |        |        | Indorama Eleme    |
|   |            | ochemicals |        |        | Petrochemicals    |
|   | Rela       | Limited    |        |        | Limited to supply |
|   | tionship:  | for its    |        |        | required power    |
|   |            | plant      |        |        | and requested     |
|   | The        | o          |        |        | Indorama Eleme    |
|   | ultimate   | perations. |        |        | Petrochemicals    |
|   | major      |            |        |        | Limited agreed to |
|   | s          | Agreement  |        |        | supply to the     |
|   | hareholder | period is  |        |        | buyer in the      |
|   | of         | 5 years.   |        |        | required          |
|   | Indorama   |            |        |        | quantities as per |
|   | Eleme      | Total      |        |        | the Agreement.    |
|   | Petr       |            |        |        |                   |
|   | ochemicals | Accounts   |        |        | Pricing method:   |
|   | Limited is | payable    |        |        |                   |
|   | Mr. S.P.   |            |        |        | Price per unit is |
|   | Lohia who  |            |        |        | charged as per    |
|   | is a       |            |        |        | regulation of     |
|   | Chairman   |            |        |        | Nigerian          |
|   | of         |            |        |        | Electricity       |
|   | Indorama   |            |        |        | Regulation        |
|   | Ventures   |            |        |        | Commission        |
|   | Pcl.       |            |        |        | (NERC).           |
|   |            |            |        |        |                   |
|   |            |            |        |        | Terms of credit:  |
|   |            |            |        |        |                   |
|   |            |            |        |        | Payable within 15 |
|   |            |            |        |        | days from the     |
|   |            |            |        |        | date of Invoice.  |
|   |            |            |        |        |                   |
|   |            |            |        |        | Going Forward:    |
|   |            |            |        |        |                   |
|   |            |            |        |        | Contract which is |
|   |            |            |        |        | initially for 5   |
|   |            |            |        |        | years and it can  |
|   |            |            |        |        | be renewd on      |
|   |            |            |        |        |                   |
|   |            |            |        |        | mutually agreed   |
|   |            |            |        |        | terms.            |
+---+------------+------------+--------+--------+-------------------+
| 3 | Indorama   | Indorama   | Nil    | 0.0017 | Indorama Pet      |
|   | Pet        | Pet        |        |        | (Nigeria) Ltd.    |
|   | (Nigeria)  | (Nigeria)  | Nil    | Nil    | may require       |
|   | Ltd. –     | Ltd.       |        |        | certain utilities |
|   | Indorama   | purchases  |        |        | for its’ Plant    |
|   | Eleme      | Filter     |        |        | operations on     |
|   | Petr       | Water,     |        |        | need basis and    |
|   | ochemicals | Nitrogen,  |        |        | has requested     |
|   | Limited    | Plant Air  |        |        | Indorama Eleme    |
|   |            | Utilitites |        |        | Petrochemicals    |
|   | Rela       | as when    |        |        | Limited to supply |
|   | tionship:  | required   |        |        | required          |
|   |            | in case of |        |        | utilities for     |
|   | The        | e          |        |        | which Indorama    |
|   | ultimate   | mergencies |        |        | Eleme             |
|   | major      | for its    |        |        | Petrochemicals    |
|   | s          | plant      |        |        | Limited has       |
|   | hareholder | operations |        |        | agreed to supply. |
|   | of         |            |        |        |                   |
|   | Indorama   | Agreement  |        |        | Pricing method:   |
|   | Eleme      | is valid   |        |        |                   |
|   | Petr       | for 5      |        |        | Indorama Eleme    |
|   | ochemicals | years.     |        |        | Petrochemicals    |
|   | Limited is |            |        |        | Limited will      |
|   | Mr. S.P.   | Total      |        |        | charge 15 %       |
|   | Lohia who  |            |        |        | margin over the   |
|   | is a       | Accounts   |        |        | cost . This is    |
|   | Chairman   | payable    |        |        | very competitive  |
|   | of         |            |        |        | market rate and   |
|   | Indorama   |            |        |        | justifiable.      |
|   | Ventures   |            |        |        |                   |
|   | Pcl.       |            |        |        | Terms of credit:  |
|   |            |            |        |        |                   |
|   |            |            |        |        | Payable within 15 |
|   |            |            |        |        | days from the     |
|   |            |            |        |        | date of Invoice.  |
|   |            |            |        |        |                   |
|   |            |            |        |        | Going Forward:    |
|   |            |            |        |        |                   |
|   |            |            |        |        | Contract is for 5 |
|   |            |            |        |        | years, utilities  |
|   |            |            |        |        | will be purchased |
|   |            |            |        |        | on need basis.    |
+---+------------+------------+--------+--------+-------------------+
| 4 | Auriga     | Sale of    | Nil    | 13.51  | Sale of the       |
|   | Polymers   | the        |        |        | products of PT.   |
|   | Inc. - PT. | products   | Nil    | Nil    | Indorama          |
|   | Indorama   | of PT.     |        |        | Synthetics Tbk to |
|   | Synthetics | Indorama   |        |        | the customers     |
|   | Tbk        | Synthetics |        |        | with some margin  |
|   |            | Tbk to the |        |        | adds some         |
|   | Rela       | customers  |        |        | revenues and      |
|   | tionship:  | with some  |        |        | enables to        |
|   |            | margin     |        |        | increase the      |
|   | Mr. S.P.   |            |        |        | customer base     |
|   | Lohia      | Total      |        |        |                   |
|   | family     |            |        |        | Pricing method:   |
|   | holds      | Accounts   |        |        |                   |
|   | directly   | receivable |        |        | Margin is added   |
|   | or         |            |        |        | on the overall    |
|   | i          |            |        |        | cost of purchase  |
|   | ndirectly, |            |        |        |                   |
|   | majority   |            |        |        | Going Forward:    |
|   | sh         |            |        |        |                   |
|   | areholding |            |        |        | Auriga may        |
|   | in PT.     |            |        |        | continue to       |
|   | Indorama   |            |        |        | explore the       |
|   | Synthetics |            |        |        | possibility of    |
|   | Tbk; Mr.   |            |        |        | selling the       |
|   | S.P Lohia  |            |        |        | products of PT.   |
|   | is the     |            |        |        | Indorama          |
|   | President  |            |        |        | Synthetics Tbk    |
|   | Co         |            |        |        | with some margin. |
|   | mmissioner |            |        |        |                   |
|   | and Mr.    |            |        |        |                   |
|   | Amit Lohia |            |        |        |                   |
|   | is the     |            |        |        |                   |
|   | President  |            |        |        |                   |
|   | Director   |            |        |        |                   |
|   | of PT.     |            |        |        |                   |
|   | Indorama   |            |        |        |                   |
|   | Synthetics |            |        |        |                   |
|   | Tbk, and   |            |        |        |                   |
|   | Mr.S.P.    |            |        |        |                   |
|   | Lohia is   |            |        |        |                   |
|   | the        |            |        |        |                   |
|   | Chairman   |            |        |        |                   |
|   | of IVL,    |            |        |        |                   |
|   | Mr. Amit   |            |        |        |                   |
|   | Lohia is   |            |        |        |                   |
|   | the        |            |        |        |                   |
|   | Director   |            |        |        |                   |
|   | of IVL     |            |        |        |                   |
+---+------------+------------+--------+--------+-------------------+
| 5 | Indorama   | Sale of    | Nil    | 1.18   | Sale of the       |
|   | Ventures   | the        |        |        | products of PT.   |
|   | Polymers   | products   | Nil    | Nil    | Indorama          |
|   | México, S. | of PT.     |        |        | Synthetics Tbk to |
|   | de R.L. de | Indorama   |        |        | the customers     |
|   | C.V. – PT. | Synthetics |        |        | with some margin  |
|   | Indorama   | Tbk to the |        |        | adds some         |
|   | Synthetics | customers  |        |        | revenues and      |
|   | Tbk        | with some  |        |        | enables to        |
|   |            | margin     |        |        | increase the      |
|   | Rela       |            |        |        | customer base     |
|   | tionship:  | Total      |        |        |                   |
|   |            |            |        |        | Pricing method:   |
|   | Mr. S.P.   | Accounts   |        |        |                   |
|   | Lohia      | receivable |        |        | Margin is charged |
|   | family     |            |        |        | on the sales made |
|   | holds      |            |        |        |                   |
|   | directly   |            |        |        | Going Forward:    |
|   | or         |            |        |        |                   |
|   | i          |            |        |        | Indorama Ventures |
|   | ndirectly, |            |        |        | Polymers México,  |
|   | majority   |            |        |        | S. de R.L. de     |
|   | sh         |            |        |        | C.V. may continue |
|   | areholding |            |        |        | to explore the    |
|   | in PT.     |            |        |        | possibility of    |
|   | Indorama   |            |        |        | selling the       |
|   | Synthetics |            |        |        | products of PT.   |
|   | Tbk; Mr.   |            |        |        | Indorama          |
|   | S.P Lohia  |            |        |        | Synthetics Tbk    |
|   | is the     |            |        |        |                   |
|   | President  |            |        |        | with some margin. |
|   | Co         |            |        |        |                   |
|   | mmissioner |            |        |        |                   |
|   | and Mr.    |            |        |        |                   |
|   | Amit Lohia |            |        |        |                   |
|   | is the     |            |        |        |                   |
|   | President  |            |        |        |                   |
|   | Director   |            |        |        |                   |
|   | of PT.     |            |        |        |                   |
|   | Indorama   |            |        |        |                   |
|   | Synthetics |            |        |        |                   |
|   | Tbk, and   |            |        |        |                   |
|   | Mr.S.P.    |            |        |        |                   |
|   | Lohia is   |            |        |        |                   |
|   | the        |            |        |        |                   |
|   | Chairman   |            |        |        |                   |
|   | of IVL,    |            |        |        |                   |
|   | Mr. Amit   |            |        |        |                   |
|   | Lohia is   |            |        |        |                   |
|   | the        |            |        |        |                   |
|   | Director   |            |        |        |                   |
|   | of IVL     |            |        |        |                   |
+---+------------+------------+--------+--------+-------------------+

Rental/Lease (not exceed 3 years) without any indication of General
Trading Condition

  Unit: Million Baht

+---+-------------+-----------+--------+--------+--------------------+
| I | IVL/        | Type of   | Year   | Year   | Necessity and      |
| t | Subsidiary- | Tr        | Ended  | Ended  | reasonableness     |
| e |             | ansaction |        |        |                    |
| m | Party       |           | 31     | 31     |                    |
|   | having      |           | De     | De     |                    |
|   | Conflict of |           | cember | cember |                    |
|   | Interest    |           | 2011   | 2012   |                    |
+---+-------------+-----------+--------+--------+--------------------+
| 1 | Indorama    | Indorama  |        |        | This transaction   |
|   | Polyester   | Polyester |        |        | has been done to   |
|   | Industries  | I         |        |        | avail of office    |
|   | Plc. -      | ndustries |        |        | space, with total  |
|   | Pacific     | rented    |        |        | areas of 1,457.88  |
|   | Resources   | out       |        |        | Sqm.               |
|   | Ltd.        | office    |        |        |                    |
|   |             | space at  |        |        | Pricing method:    |
|   | Re          | 28th      |        |        |                    |
|   | lationship: | floor     |        |        | As per prevailing  |
|   |             | Ocean     |        |        | rent in Ocean      |
|   | Mr. Anuj    | Tower 2,  |        |        | Tower building, it |
|   | Lohia, a    | Bangkok.  |        |        | has been agreed.   |
|   | son of Mr.  | (Unit A,  |        |        |                    |
|   | Aloke       | B, C, D). |        |        | Terms of credit:   |
|   | Lohia, is   |           |        |        |                    |
|   | the major   | The       |        |        | Advance on or      |
|   | shareholder | rental    |        |        | before 5th day of  |
|   | of Pacific  | expenses  |        |        | each calendar      |
|   | Resources   | is of     |        |        | month.             |
|   | Ltd.        | Baht      |        |        |                    |
|   |             | 437,364   |        |        |                    |
|   |             | per month |        |        |                    |
|   |             | or Baht   |        |        |                    |
|   |             | 300/s     |        |        |                    |
|   |             | qm./month |        |        |                    |
+---+-------------+-----------+--------+--------+--------------------+
| I | IVL/        | Type of   | Year   | Year   | Necessity and      |
| t | Subsidiary- | Tr        | Ended  | Ended  | reasonableness     |
| e |             | ansaction |        |        |                    |
| m | Party       |           | 31     | 31     |                    |
|   | having      |           | De     | De     |                    |
|   | Conflict of |           | cember | cember |                    |
|   | Interest    |           | 2011   | 2012   |                    |
+---+-------------+-----------+--------+--------+--------------------+
|   |             | Total     | 5.25   | 5.25   | Going Forward:     |
|   |             |           |        |        |                    |
|   |             | Deposit   | 1.31   | 1.31   | The lease          |
|   |             | r         |        |        | agreement was      |
|   |             | eceivable |        |        | expired on Oct.    |
|   |             |           |        |        | 31, 2010 and has   |
|   |             |           |        |        | been renewed for   |
|   |             |           |        |        | the period from    |
|   |             |           |        |        | Nov. 1, 2010 to    |
|   |             |           |        |        | Oct. 31, 2013 at   |
|   |             |           |        |        | the same           |
|   |             |           |        |        | conditions.        |
|   |             |           |        |        |                    |
|   |             |           |        |        | Renewal Condition: |
|   |             |           |        |        |                    |
|   |             |           |        |        | The agreement can  |
|   |             |           |        |        | be renewed as per  |
|   |             |           |        |        | the terms agreed   |
|   |             |           |        |        | mutually.          |
+---+-------------+-----------+--------+--------+--------------------+
| 2 | Indorama    | Indorama  | 1.11   | 1.98   | This transaction   |
|   | Polyester   | Polyester |        |        | has been done to   |
|   | Industries  | I         | Nil    | 0.17   | avail of office    |
|   | Pcl. –      | ndustries |        |        | space, with total  |
|   | Cryoviva    | have      |        |        | areas of 630 Sqm.  |
|   | (Thailand)  | office    |        |        |                    |
|   | Ltd.        | space at  |        |        | Pricing method:    |
|   |             | 3^(rd)    |        |        |                    |
|   | Re          | floor of  |        |        | As per prevailing  |
|   | lationship: | the       |        |        | market rate        |
|   |             | Office at |        |        |                    |
|   | Mr. Aloke   | Nakhon    |        |        | Terms of credit:   |
|   | Lohia, is a | Pathom to |        |        |                    |
|   | director of | rent out  |        |        | Advance on or      |
|   | Cryoviva    | to        |        |        | before 15th day of |
|   | (Thailand)  | Cryoviva  |        |        | each calendar      |
|   | Ltd.        | (         |        |        | month.             |
|   |             | Thailand) |        |        |                    |
|   |             | Ltd       |        |        | Going Forward:     |
|   |             |           |        |        |                    |
|   |             | Total     |        |        | This lease         |
|   |             |           |        |        | agreement shall be |
|   |             | Balance   |        |        | stared from 1st    |
|   |             | payable   |        |        | August, 2011 to 31 |
|   |             |           |        |        | July, 2014 and     |
|   |             |           |        |        | after every 3      |
|   |             |           |        |        | years lease can be |
|   |             |           |        |        | renew at mutually  |
|   |             |           |        |        | agreed terms and   |
|   |             |           |        |        | conditions.        |
|   |             |           |        |        |                    |
|   |             |           |        |        | Renewal Condition: |
|   |             |           |        |        |                    |
|   |             |           |        |        | The agreement will |
|   |             |           |        |        | be renewed as per  |
|   |             |           |        |        | the terms of       |
|   |             |           |        |        | agreement          |
+---+-------------+-----------+--------+--------+--------------------+
| 3 | PT.         | PT.       | Nil    | 0.94   | This transaction   |
|   | Indorama    | Indorama  |        |        | has been done to   |
|   | Polychem    | Polychem  | Nil    | Nil    | avail of office    |
|   | Indonesia – | Indonesia |        |        | space, with total  |
|   | PT. Irama   | lease     |        |        | areas of 288 Sqm.  |
|   | Unggul      | office    |        |        |                    |
|   |             | space     |        |        | Pricing method:    |
|   | Rel         | from Pt.  |        |        |                    |
|   | ationship:  | Irama     |        |        | Rent is fixed at   |
|   |             | Unggul    |        |        | arms lengh basis   |
|   | Mrs. Aarti  |           |        |        | based on the rents |
|   | Lohia is    | Total     |        |        | prevailing in the  |
|   | C           |           |        |        | market in the      |
|   | ommissioner | Balance   |        |        | vicinity           |
|   | of PT.      | payable   |        |        |                    |
|   | Irama       |           |        |        | Going Forward:     |
|   | Unggul. She |           |        |        |                    |
|   | is Mr.      |           |        |        | The transaction    |
|   | Amit’s wife |           |        |        | can further be     |
|   | who is the  |           |        |        | extended after the |
|   | director of |           |        |        | end of current     |
|   | IVL and     |           |        |        | lease period, and  |
|   |             |           |        |        | the renewal        |
|   | Mr. S.P.    |           |        |        | process has to be  |
|   | Lohia       |           |        |        | comply the         |
|   | family      |           |        |        | applicable         |
|   | holds       |           |        |        | approval           |
|   | directly or |           |        |        | procedure.         |
|   | indirectly  |           |        |        |                    |
|   | majority    |           |        |        |                    |
|   | s           |           |        |        |                    |
|   | hareholding |           |        |        |                    |
|   | in PT.      |           |        |        |                    |
|   | Irama       |           |        |        |                    |
|   | Unggul.     |           |        |        |                    |
+---+-------------+-----------+--------+--------+--------------------+
| I | IVL/        | Type of   | Year   | Year   | Necessity and      |
| t | Subsidiary- | Tr        | Ended  | Ended  | reasonableness     |
| e |             | ansaction |        |        |                    |
| m | Party       |           | 31     | 31     |                    |
|   | having      |           | De     | De     |                    |
|   | Conflict of |           | cember | cember |                    |
|   | Interest    |           | 2011   | 2012   |                    |
+---+-------------+-----------+--------+--------+--------------------+
| 4 | PT.         | PT.       | Nil    | 0.18   | The office         |
|   | Indorama    | Indorama  |        |        | premises taken on  |
|   | Ventures    | Ventures  | Nil    | Nil    | lease is located   |
|   | Indonesia - | Indonesia |        |        | in the area        |
|   | PT.         | lease     |        |        | suitable for all   |
|   | Indorama    | office    |        |        | purposes           |
|   | Synthetics  | from PT.  |        |        |                    |
|   | Tbk         | Indorama  |        |        | Pricing method:    |
|   |             | S         |        |        |                    |
|   | Rel         | ynthetics |        |        | Rent is fixed at   |
|   | ationship:  | Tbk       |        |        | arms lengh basis   |
|   |             |           |        |        | based on the rents |
|   | Mr. S.P.    | Total     |        |        | prevailing in the  |
|   | Lohia       |           |        |        | market in the      |
|   | family      | Balance   |        |        | vicinity           |
|   | holds       | payable   |        |        |                    |
|   | directly or |           |        |        | Going Forward:     |
|   | indirectly, |           |        |        |                    |
|   | majority    |           |        |        | The transaction    |
|   | s           |           |        |        | can further be     |
|   | hareholding |           |        |        | extended after the |
|   | in PT.      |           |        |        | end of current     |
|   | Indorama    |           |        |        | lease period, and  |
|   | Synthetics  |           |        |        | the renewal        |
|   | Tbk; Mr.    |           |        |        | process has to be  |
|   | S.P Lohia   |           |        |        | comply the         |
|   | is the      |           |        |        | applicable         |
|   | President   |           |        |        | approval           |
|   | C           |           |        |        | procedure.         |
|   | ommissioner |           |        |        |                    |
|   | and Mr.     |           |        |        |                    |
|   | Amit Lohia  |           |        |        |                    |
|   | is the      |           |        |        |                    |
|   | President   |           |        |        |                    |
|   | Director of |           |        |        |                    |
|   | PT.         |           |        |        |                    |
|   | Indorama    |           |        |        |                    |
|   | Synthetics  |           |        |        |                    |
|   | Tbk, and    |           |        |        |                    |
|   | Mr. S.P.    |           |        |        |                    |
|   | Lohia is    |           |        |        |                    |
|   | the         |           |        |        |                    |
|   | Chairman of |           |        |        |                    |
|   | IVL, Mr.    |           |        |        |                    |
|   | Amit Lohia  |           |        |        |                    |
|   | is the      |           |        |        |                    |
|   | Director of |           |        |        |                    |
|   | IVL         |           |        |        |                    |
+---+-------------+-----------+--------+--------+--------------------+

Relating to Assets/Services Transaction

  Unit: Million Baht

+---+--------------+-----------+--------+--------+------------------+
| I | IVL          | Type of   | Year   | Period | Necessity and    |
| t | /Subsidiary- | Tr        | Ended  | Ended  | reasonableness   |
| e |              | ansaction |        |        |                  |
| m | Party having |           | 31     | 31     |                  |
|   | Conflict of  |           | De     | De     |                  |
|   | Interest     |           | cember | cember |                  |
|   |              |           | 2011   | 2012   |                  |
+---+--------------+-----------+--------+--------+------------------+
| 1 | Royalty Fee  | Royalty   | 71.39  | 86.64  | Fee paid for use |
|   | (use of the  | Fee (Use  |        |        | of the name      |
| . | name         | of the    | 16.65  | 22.66  | "Indorama" which |
|   | “Indorama”)  | name      |        |        | is owned by      |
|   |              | "I        |        |        | Lohia Global     |
|   | Pay to Lohia | ndorama") |        |        | Holdings         |
|   | Global       | as per    |        |        | Limited, as per  |
|   | Holdings     | the       |        |        | the License      |
|   | Limited      | Royalty   |        |        | Agreement        |
|   |              | Agreement |        |        | between Indorama |
|   | 1)  Indorama |           |        |        | Ventures PCL and |
|   |     Polymers | Total     |        |        | Lohia Global     |
|   |     PCL.     |           |        |        | Holdings,        |
|   |              | Accounts  |        |        | assigned to      |
|   | 2)  Indorama | payable   |        |        | subsidiaries.    |
|   |     Holdings |           |        |        |                  |
|   |     LTD.     |           |        |        | Pricing method:  |
|   |              |           |        |        |                  |
|   | 3)  Indorama |           |        |        | Royalty fee to   |
|   |              |           |        |        | be charged at    |
|   |   Polyesters |           |        |        | USD 0.50 per MT  |
|   |              |           |        |        | of net           |
|   |   Industries |           |        |        | production as    |
|   |     PCL      |           |        |        | stipulated in    |
|   |              |           |        |        | the Royalty      |
|   | 4)  Indorama |           |        |        | payment          |
|   |              |           |        |        | agreement        |
|   |    Petrochem |           |        |        |                  |
|   |     LTD.     |           |        |        | Terms of credit: |
|   |              |           |        |        |                  |
|   | 5)  UAB      |           |        |        | 7 Days after     |
|   |     Orion    |           |        |        | IVL" s financial |
|   |     Global   |           |        |        | statement was    |
|   |     Pet      |           |        |        | reviewed and     |
|   |              |           |        |        |                  |
|   | 6)  AlphaPet |           |        |        |                  |
|   |     Inc.     |           |        |        |                  |
|   |              |           |        |        |                  |
|   | 7)  StarPet  |           |        |        |                  |
|   |     Inc.     |           |        |        |                  |
+---+--------------+-----------+--------+--------+------------------+
| I | IVL          | Type of   | Year   | Period | Necessity and    |
| t | /Subsidiary- | Tr        | Ended  | Ended  | reasonableness   |
| e |              | ansaction |        |        |                  |
| m | Party having |           | 31     | 31     |                  |
|   | Conflict of  |           | De     | De     |                  |
|   | Interest     |           | cember | cember |                  |
|   |              |           | 2011   | 2012   |                  |
+---+--------------+-----------+--------+--------+------------------+
|   | 8)  TPT      |           |        |        | approved by the  |
|   |     Pe       |           |        |        | auditor          |
|   | trochemicals |           |        |        |                  |
|   |     PCL      |           |        |        | Going Forward:   |
|   |              |           |        |        |                  |
|   | 9)  UAB      |           |        |        | Starting from    |
|   |     Indorama |           |        |        | March 2010       |
|   |     Holdings |           |        |        |                  |
|   |     Europe   |           |        |        |                  |
|   |              |           |        |        |                  |
|   | 10) UAB      |           |        |        |                  |
|   |     Indorama |           |        |        |                  |
|   |     Polymers |           |        |        |                  |
|   |     Europe   |           |        |        |                  |
|   |              |           |        |        |                  |
|   | 11) PT       |           |        |        |                  |
|   |     Indorama |           |        |        |                  |
|   |     Venture  |           |        |        |                  |
|   |              |           |        |        |                  |
|   |    Indonesia |           |        |        |                  |
|   |              |           |        |        |                  |
|   | 12) Indorama |           |        |        |                  |
|   |     Ventures |           |        |        |                  |
|   |     Polymers |           |        |        |                  |
|   |              |           |        |        |                  |
|   |   Mexico, S. |           |        |        |                  |
|   |     de R.L.  |           |        |        |                  |
|   |     de C.V.  |           |        |        |                  |
|   |              |           |        |        |                  |
|   | 13) Auriga   |           |        |        |                  |
|   |              |           |        |        |                  |
|   |    Polymers, |           |        |        |                  |
|   |     Inc.     |           |        |        |                  |
|   |              |           |        |        |                  |
|   | 14) Indorama |           |        |        |                  |
|   |     Ventures |           |        |        |                  |
|   |     Poland   |           |        |        |                  |
|   |              |           |        |        |                  |
|   |    Sp.z.o.o. |           |        |        |                  |
|   |              |           |        |        |                  |
|   | 1            |           |        |        |                  |
|   | 5) Guangdong |           |        |        |                  |
|   |     IVL Pet  |           |        |        |                  |
|   |     Polymer  |           |        |        |                  |
|   |     Co.,     |           |        |        |                  |
|   |     Ltd.     |           |        |        |                  |
|   |              |           |        |        |                  |
|   | 16) Indorama |           |        |        |                  |
|   |     Ventures |           |        |        |                  |
|   |     (Ox      |           |        |        |                  |
|   | ide&Glycols) |           |        |        |                  |
|   |     LLC      |           |        |        |                  |
|   |              |           |        |        |                  |
|   | 17) Fiber    |           |        |        |                  |
|   |     Vision   |           |        |        |                  |
|   |     M        |           |        |        |                  |
|   | anufacturing |           |        |        |                  |
|   |     Company  |           |        |        |                  |
|   |              |           |        |        |                  |
|   | 18)          |           |        |        |                  |
|   | FiberVisions |           |        |        |                  |
|   |              |           |        |        |                  |
|   |    Products, |           |        |        |                  |
|   |     Inc.,    |           |        |        |                  |
|   |              |           |        |        |                  |
|   | 19)          |           |        |        |                  |
|   | FiberVisions |           |        |        |                  |
|   |     (China)  |           |        |        |                  |
|   |     Textile  |           |        |        |                  |
|   |     Products |           |        |        |                  |
|   |     Ltd.     |           |        |        |                  |
|   |              |           |        |        |                  |
|   | 20)          |           |        |        |                  |
|   | FiberVisions |           |        |        |                  |
|   |     A/S      |           |        |        |                  |
|   |              |           |        |        |                  |
|   | 21) Wellman  |           |        |        |                  |
|   |     I        |           |        |        |                  |
|   | nternational |           |        |        |                  |
|   |     Limited  |           |        |        |                  |
|   |              |           |        |        |                  |
|   | 22) Wellman  |           |        |        |                  |
|   |     France   |           |        |        |                  |
|   |              |           |        |        |                  |
|   |    Recyclage |           |        |        |                  |
|   |     S.A.S.   |           |        |        |                  |
|   |              |           |        |        |                  |
|   | R            |           |        |        |                  |
|   | elationship: |           |        |        |                  |
|   |              |           |        |        |                  |
|   |   Mr. M.L    |           |        |        |                  |
|   |   Lohia is a |           |        |        |                  |
|   |   major      |           |        |        |                  |
|   |              |           |        |        |                  |
|   |  shareholder |           |        |        |                  |
|   |   of Lohia   |           |        |        |                  |
|   |   Global     |           |        |        |                  |
|   |   Holdings   |           |        |        |                  |
|   |   Limited    |           |        |        |                  |
|   |   and he is  |           |        |        |                  |
|   |   a father   |           |        |        |                  |
|   |   of Mr.     |           |        |        |                  |
|   |   S.P. Lohia |           |        |        |                  |
|   |   and Mr.    |           |        |        |                  |
|   |   Aloke      |           |        |        |                  |
|   |   Lohia,     |           |        |        |                  |
|   |   directors  |           |        |        |                  |
|   |   of IVL     |           |        |        |                  |
+---+--------------+-----------+--------+--------+------------------+
| 2 | Indorama Pet | Indorama  |        |        | The land lease   |
|   | (Nigeria)    | Pet       |        |        | by Indorama Pet  |
|   | Ltd. –       | (Nigeria) |        |        | (Nigeria)        |
|   | Indorma      | Ltd.      |        |        | Limited to set   |
|   | Eleme        | leased    |        |        | up PET plant in  |
|   | Pe           | land of   |        |        | the premises of  |
|   | trochemicals | 15,000    |        |        | Indorma Eleme    |
|   | Ltd.         | square    |        |        | Petrochemicals   |
|   |              | meters in |        |        | Limited.         |
|   | R            | order to  |        |        |                  |
|   | elationship: | set up    |        |        | Pricing method:  |
|   |              | the PET   |        |        |                  |
|   | Mr. S.P.     | plant.    |        |        | As per           |
|   | Lohia and    |           |        |        | prevailing       |
|   | Mr. Amit     |           |        |        | market rate.     |
|   | Lohia are    |           |        |        |                  |
|   | the common   |           |        |        |                  |
|   | directors of |           |        |        |                  |
+---+--------------+-----------+--------+--------+------------------+
| I | IVL          | Type of   | Year   | Period | Necessity and    |
| t | /Subsidiary- | Tr        | Ended  | Ended  | reasonableness   |
| e |              | ansaction |        |        |                  |
| m | Party having |           | 31     | 31     |                  |
|   | Conflict of  |           | De     | De     |                  |
|   | Interest     |           | cember | cember |                  |
|   |              |           | 2011   | 2012   |                  |
+---+--------------+-----------+--------+--------+------------------+
|   | Eleme        | The       | 2.37   | 1.90   | Terms of credit: |
|   | P            | rental    |        |        |                  |
|   | etrochemical | expenses  | Nil    | Nil    | At the 1st day   |
|   | Company Ltd. | is of     |        |        | of each calendar |
|   | and IVL      | Naira     |        |        | month.           |
|   |              | 937,500   |        |        |                  |
|   |              | per month |        |        | Going Forward:   |
|   |              |           |        |        |                  |
|   |              | (1 Naira  |        |        | The lease        |
|   |              | = Baht    |        |        | agreement is for |
|   |              | 0.19)     |        |        | 15 years         |
|   |              |           |        |        | starting on 1    |
|   |              | Total     |        |        | January 2011 –   |
|   |              |           |        |        | 31 December      |
|   |              | Balance   |        |        | 2025.            |
|   |              | payable   |        |        |                  |
|   |              |           |        |        | Renewal          |
|   |              |           |        |        | Condition:       |
|   |              |           |        |        |                  |
|   |              |           |        |        | The agreement    |
|   |              |           |        |        | will be renewed  |
|   |              |           |        |        | as per the terms |
|   |              |           |        |        | of agreement.    |
+---+--------------+-----------+--------+--------+------------------+
| 3 | Indorama     | Indorama  | 17.63  | 1.06   | To facilitate    |
|   | Petrochem    | Petrochem |        |        | senior           |
|   | Ltd. – MJETS | Ltd. uses | Nil    | Nil    | management in    |
|   | Ltd.         | aircraft  |        |        | their various    |
|   |              | service   |        |        | business         |
|   | R            | from      |        |        | meetings         |
|   | elationship: | MJETS     |        |        | globally and on  |
|   |              | Ltd.      |        |        | timely basis.    |
|   | Mr.          |           |        |        |                  |
|   | Heinecke’s   | on rental |        |        | Pricing method:  |
|   | sons are a   | basis.    |        |        |                  |
|   | major        |           |        |        | Based on         |
|   | shareholders | Total     |        |        | negotiated and   |
|   | of MJETS     |           |        |        | entered into an  |
|   | Ltd. and Mr. | Balance   |        |        | agreement for    |
|   | Heinecke is  | payable   |        |        | the usage of 50  |
|   | a director   |           |        |        | block hours. The |
|   | of IVL       |           |        |        | rate including   |
|   |              |           |        |        | aircraft, crew,  |
|   |              |           |        |        | maintenance,     |
|   |              |           |        |        | insurance and    |
|   |              |           |        |        | fuel             |
|   |              |           |        |        |                  |
|   |              |           |        |        | Terms of credit: |
|   |              |           |        |        |                  |
|   |              |           |        |        | Within 5 working |
|   |              |           |        |        | days of the      |
|   |              |           |        |        | execution of the |
|   |              |           |        |        | Agreement        |
|   |              |           |        |        |                  |
|   |              |           |        |        | Going Forward:   |
|   |              |           |        |        |                  |
|   |              |           |        |        | This is not a    |
|   |              |           |        |        | regular          |
|   |              |           |        |        | transaction and  |
|   |              |           |        |        | services of the  |
|   |              |           |        |        | aircraft from    |
|   |              |           |        |        | MJets will be    |
|   |              |           |        |        | sourced on a     |
|   |              |           |        |        | need basis.      |
+---+--------------+-----------+--------+--------+------------------+
| 4 | Indorama     | Indorama  | Nil    | 22.39  | Indorama         |
|   | Petrochem    | P         |        |        | Petrochem Ltd    |
|   | Limited -    | ertrochem | Nil    | Nil    | extends support  |
|   | PT. Indorama | sells     |        |        | to PT. Indorama  |
|   | Pe           | some raw  |        |        | Petrochemicals   |
|   | trochemicals | materials |        |        | as required by   |
|   |              | to PT.    |        |        | it in sourcing   |
|   | R            | Indorama  |        |        | some raw         |
|   | elationship: | Petroc    |        |        | materials from   |
|   |              | hemicals. |        |        | the market       |
|   | Mr. S.P.     |           |        |        |                  |
|   | Lohia,       | Total     |        |        | Pricing method:  |
|   | Chairman of  |           |        |        |                  |
|   | IVL, is the  | Accounts  |        |        | Price as         |
|   | President    | r         |        |        | prevailing in    |
|   | Commissioner | eceivable |        |        | the market with  |
|   | and Mr. Amit |           |        |        | some margin over |
|   | Lohia,       |           |        |        | the cost         |
|   |              |           |        |        |                  |
|   | Director of  |           |        |        |                  |
|   | IVL, is the  |           |        |        |                  |
|   | President    |           |        |        |                  |
|   | Director of  |           |        |        |                  |
+---+--------------+-----------+--------+--------+------------------+
| I | IVL          | Type of   | Year   | Period | Necessity and    |
| t | /Subsidiary- | Tr        | Ended  | Ended  | reasonableness   |
| e |              | ansaction |        |        |                  |
| m | Party having |           | 31     | 31     |                  |
|   | Conflict of  |           | De     | De     |                  |
|   | Interest     |           | cember | cember |                  |
|   |              |           | 2011   | 2012   |                  |
+---+--------------+-----------+--------+--------+------------------+
|   | PT. Indorama |           |        |        | Terms of credit: |
|   | Pet          |           |        |        |                  |
|   | rochemicals. |           |        |        | 15 days which is |
|   | In addition, |           |        |        | shorter than the |
|   | PT. Indorama |           |        |        | original payment |
|   | Synthetics   |           |        |        | term that IRPL   |
|   | Tbk is one   |           |        |        | gets from        |
|   | of the major |           |        |        | supplier.        |
|   | shareholder  |           |        |        |                  |
|   | of PT.       |           |        |        | Going Forward:   |
|   | Indorama     |           |        |        |                  |
|   | Pe           |           |        |        | Acoounts         |
|   | trochemicals |           |        |        | department will  |
|   | and Mr. SP   |           |        |        | record the       |
|   | Lohia family |           |        |        | actual connected |
|   | holds        |           |        |        | transaction      |
|   | directly or  |           |        |        | value as and     |
|   | indirectly,  |           |        |        | when takes       |
|   | majority     |           |        |        | place.           |
|   | shareholding |           |        |        |                  |
|   | in PT.       |           |        |        |                  |
|   | Indorama     |           |        |        |                  |
|   | Synthetics   |           |        |        |                  |
|   | Tbk.         |           |        |        |                  |
+---+--------------+-----------+--------+--------+------------------+
| 5 | Indorama     | Indorama  | Nil    | 0.34   | Since the lead   |
|   | Petrochem    | P         |        |        | time to procure  |
|   | Limited -    | ertrochem | Nil    | Nil    | the spare,       |
|   | PT. Indorama | sells     |        |        | stores,          |
|   | Pe           | certain   |        |        | chemicals from   |
|   | trochemicals | spare     |        |        | the market is    |
|   |              | parts,    |        |        | high when needed |
|   | R            | c         |        |        | in emergencies,  |
|   | elationship: | hemicals, |        |        | to avoid         |
|   |              | stores    |        |        | production loss  |
|   | Mr. S.P.     | etc. to   |        |        | etc the          |
|   | Lohia,       | PT.       |        |        | companies        |
|   | Chairman of  | Indorama  |        |        | propose to use   |
|   | IVL, is the  | Petro     |        |        | the spares       |
|   | President    | chemicals |        |        | available with   |
|   | Commissioner | in case   |        |        | other companies  |
|   | and Mr. Amit | of        |        |        | in the group.    |
|   | Lohia,       | eme       |        |        | The usage is     |
|   |              | rgencies. |        |        | uncertain and    |
|   | Director of  |           |        |        | depends on need  |
|   | IVL, is the  | Total     |        |        | basis.           |
|   | President    |           |        |        |                  |
|   | Director of  | Accounts  |        |        | Pricing method:  |
|   | PT. Indorama | r         |        |        |                  |
|   | Pet          | eceivable |        |        | The material can |
|   | rochemicals. |           |        |        | be invoiced      |
|   | In addition, |           |        |        | provisionally at |
|   | PT. Indorama |           |        |        | cost + 10% and   |
|   | Synthetics   |           |        |        | finalized at     |
|   | Tbk is one   |           |        |        | replacement      |
|   | of the major |           |        |        | cost.            |
|   | shareholder  |           |        |        |                  |
|   | of PT.       |           |        |        | Going Forward:   |
|   | Indorama     |           |        |        |                  |
|   | Pe           |           |        |        | Acoounts         |
|   | trochemicals |           |        |        | department will  |
|   | and Mr. SP   |           |        |        | record the       |
|   | Lohia family |           |        |        | actual connected |
|   | holds        |           |        |        | transaction      |
|   | directly or  |           |        |        | value as and     |
|   | indirectly,  |           |        |        | when any takes   |
|   | majority     |           |        |        | place.           |
|   | shareholding |           |        |        |                  |
|   | in PT.       |           |        |        |                  |
|   | Indorama     |           |        |        |                  |
|   | Synthetics   |           |        |        |                  |
|   | Tbk.         |           |        |        |                  |
+---+--------------+-----------+--------+--------+------------------+
| 6 | PT. Indorama | PT.       |        |        | PT. Indorama     |
|   | Ventures     | Indorama  |        |        | Ventures         |
|   | Indonesia -  | Ventures  |        |        | Indonesia sold   |
|   | PT.Indorama  | Indonesia |        |        | Mono Ethylene    |
|   | Synthetics   | sells     |        |        | Glycol (MEG) to  |
|   | Tbk          | Mono      |        |        | PT.Indorama      |
|   |              | Ethylene  |        |        | Synthetics Tbk   |
|   | Re           | Glycol to |        |        | since PT.        |
|   | lationship:  | PT.       |        |        | Indorama         |
|   |              | Indorama  |        |        | Ventures         |
|   | Mr. S.P.     | S         |        |        | Indonesia had    |
|   | Lohia family | ynthetics |        |        | surplus quantity |
|   | holds        | Tbk       |        |        | . The quantity   |
|   | directly or  |           |        |        | was sold at cost |
|   | indirectly,  |           |        |        | plus margin.     |
|   | majority     |           |        |        |                  |
|   | shareholding |           |        |        |                  |
|   | in PT.       |           |        |        |                  |
|   | Indorama     |           |        |        |                  |
|   | Synthetics   |           |        |        |                  |
|   | Tbk;         |           |        |        |                  |
+---+--------------+-----------+--------+--------+------------------+
| I | IVL          | Type of   | Year   | Period | Necessity and    |
| t | /Subsidiary- | Tr        | Ended  | Ended  | reasonableness   |
| e |              | ansaction |        |        |                  |
| m | Party having |           | 31     | 31     |                  |
|   | Conflict of  |           | De     | De     |                  |
|   | Interest     |           | cember | cember |                  |
|   |              |           | 2011   | 2012   |                  |
+---+--------------+-----------+--------+--------+------------------+
|   | Mr. S.P      | Total     | Nil    | 7.94   | Pricing method:  |
|   | Lohia is the |           |        |        |                  |
|   | President    | Accounts  | Nil    | Nil    | PT. Indorama     |
|   | Commissioner | r         |        |        | Ventures         |
|   | and Mr. Amit | eceivable |        |        | Indonesia Landed |
|   | Lohia is the |           |        |        | Cost plus a      |
|   | President    |           |        |        | margin           |
|   | Director of  |           |        |        |                  |
|   | PT. Indorama |           |        |        | Terms of credit: |
|   | Synthetics   |           |        |        |                  |
|   | Tbk, and Mr. |           |        |        | Sales on cash on |
|   | S.P. Lohia   |           |        |        | dilively basis.  |
|   | is the       |           |        |        |                  |
|   | Chairman of  |           |        |        | Going Forward:   |
|   | IVL, Mr.     |           |        |        |                  |
|   | Amit Lohia   |           |        |        | This transaction |
|   | is the       |           |        |        | is onetime       |
|   | Director of  |           |        |        | transaction and  |
|   | IVL.         |           |        |        | is not expected  |
|   |              |           |        |        | to occur again   |
|   |              |           |        |        | in future.       |
+---+--------------+-----------+--------+--------+------------------+
| 7 | PT. Indorama | Sale of   | Nil    | 14.35  | PT. Indorama     |
|   | Ventures     | PTA by    |        |        | Ventures         |
|   | Indonesia -  | PT.       | Nil    | Nil    | Indonesia has    |
|   | PT.Indorama  | Indorama  |        |        | sold some        |
|   | Synthetics   | Ventures  |        |        | quantity of PTA  |
|   | Tbk          | Indonesia |        |        | to PT.Indorama   |
|   |              | to PT.    |        |        | Synthetics Tbk   |
|   | Re           | Indorama  |        |        | since PT.        |
|   | lationship:  | S         |        |        | Indorama         |
|   |              | ynthetics |        |        | Synthetics Tbk   |
|   | Mr. S.P.     | Tbk       |        |        |                  |
|   | Lohia family |           |        |        | was in urgent    |
|   | holds        | Total     |        |        | need of PTA, and |
|   | directly or  |           |        |        | PT. Indorama     |
|   | indirectly,  | Accounts  |        |        | Ventures         |
|   | majority     | r         |        |        | Indonesia had    |
|   | shareholding | eceivable |        |        | surplus          |
|   | in PT.       |           |        |        | quantity.        |
|   | Indorama     |           |        |        |                  |
|   | Synthetics   |           |        |        | Pricing method:  |
|   | Tbk; Mr. S.P |           |        |        |                  |
|   | Lohia is the |           |        |        | PT. Indorama     |
|   | President    |           |        |        | Ventures         |
|   | Commissioner |           |        |        | Indonesia Landed |
|   | and Mr. Amit |           |        |        | Cost plus        |
|   | Lohia is the |           |        |        | margin.          |
|   | President    |           |        |        |                  |
|   | Director of  |           |        |        | Terms of credit: |
|   | PT. Indorama |           |        |        |                  |
|   | Synthetics   |           |        |        | Sales on cash on |
|   | Tbk, and Mr. |           |        |        | delivery basis.  |
|   | S.P. Lohia   |           |        |        |                  |
|   | is the       |           |        |        | Going Forward:   |
|   | Chairman of  |           |        |        |                  |
|   | IVL, Mr.     |           |        |        | This transaction |
|   | Amit Lohia   |           |        |        | is onetime       |
|   | is the       |           |        |        | transaction and  |
|   | Director of  |           |        |        | is not expected  |
|   | IVL.         |           |        |        | to occur again   |
|   |              |           |        |        | in future.       |
+---+--------------+-----------+--------+--------+------------------+
| 8 | Indorama Pet | Leasing   |        |        | To cater the     |
|   | (Nigeria)    | of 3,000  |        |        | requirement of   |
|   | Limited -    | Sq.ft     |        |        | small customers  |
|   | Indorama     | space in  |        |        | in Lagos,        |
|   | Eleme        | a         |        |        | Indorama Pet     |
|   | Pe           | warehouse |        |        | (Nigeria)        |
|   | trochemicals | in Lagos  |        |        | Limited requires |
|   | Limited.     | by        |        |        | taking a         |
|   |              | Indorama  |        |        | warehouse for    |
|   | Re           | Pet       |        |        | keeping its      |
|   | lationship:  | (Nigeria) |        |        | stock. To hire a |
|   |              | Limited   |        |        | warehouse for    |
|   | The ultimate | from      |        |        | such small space |
|   | major        | Indorama  |        |        | in Lagos is very |
|   | shareholder  | Eleme     |        |        | expensive.       |
|   | of Indorama  | Petro     |        |        |                  |
|   | Eleme        | chemicals |        |        | Pricing method:  |
|   | Pe           | Limited   |        |        |                  |
|   | trochemicals | for a     |        |        | The pricing and  |
|   | Limited is   | period of |        |        | other terms are  |
|   | Mr. S.P.     | 4 years.  |        |        | same as has been |
|   | Lohia who is |           |        |        | agreed by        |
|   | a Chairman   |           |        |        | Indorama Eleme   |
|   | of Indorama  |           |        |        |                  |
|   | Ventures     |           |        |        |                  |
|   | Pcl.         |           |        |        |                  |
+---+--------------+-----------+--------+--------+------------------+
| I | IVL          | Type of   | Year   | Period | Necessity and    |
| t | /Subsidiary- | Tr        | Ended  | Ended  | reasonableness   |
| e |              | ansaction |        |        |                  |
| m | Party having |           | 31     | 31     |                  |
|   | Conflict of  |           | De     | De     |                  |
|   | Interest     |           | cember | cember |                  |
|   |              |           | 2011   | 2012   |                  |
+---+--------------+-----------+--------+--------+------------------+
|   |              | Total     | Nil    | 0.40   | Petrochemicals   |
|   |              |           |        |        | Limited with its |
|   |              | Advance   | Nil    | 1.88   | landlord         |
|   |              | payment   |        |        |                  |
|   |              |           |        |        | Terms of credit: |
|   |              |           |        |        |                  |
|   |              |           |        |        | IRPN has to pay  |
|   |              |           |        |        | lease rent and   |
|   |              |           |        |        | maintenance      |
|   |              |           |        |        | charges for 4    |
|   |              |           |        |        | year in advance  |
|   |              |           |        |        | similar to IEPCL |
|   |              |           |        |        | which pays to    |
|   |              |           |        |        | its landlord for |
|   |              |           |        |        | 4 years in       |
|   |              |           |        |        | advance.         |
|   |              |           |        |        |                  |
|   |              |           |        |        | Going Forward:   |
|   |              |           |        |        |                  |
|   |              |           |        |        | At the           |
|   |              |           |        |        | expiration of    |
|   |              |           |        |        | the lease, the   |
|   |              |           |        |        | lease may        |
|   |              |           |        |        | further be       |
|   |              |           |        |        | extended at      |
|   |              |           |        |        | fresh terms and  |
|   |              |           |        |        | conditions as    |
|   |              |           |        |        | may agreed upon  |
|   |              |           |        |        | by both the      |
|   |              |           |        |        | parties.         |
+---+--------------+-----------+--------+--------+------------------+
| 9 | PT. Indorama | Land      | Nil    | 0.17   | PT Indo-Rama     |
|   | Polychem     | lease at  |        |        | Synethetics Tbk, |
|   | Indonesia    | project   | Nil    | Nil    | has leased out   |
|   | (PTIPCI) -   | site from |        |        | land at          |
|   | PT. Indorama | PTIRS for |        |        | Purwakarata of   |
|   | Synthetics   | the       |        |        | 39,000 SQM to PT |
|   | TBK (PTIRS)  | con       |        |        | Indorama         |
|   |              | struction |        |        | Polychem         |
|   | Re           | of new    |        |        | Indonesia for    |
|   | lationship:  | G         |        |        | construction of  |
|   |              | reenfield |        |        | new Greenfield   |
|   | Mr. S.P.     | Polym     |        |        | Polymerization   |
|   | Lohia is the | erization |        |        | plant.           |
|   | President    | plant.    |        |        |                  |
|   | Commissioner |           |        |        | Pricing method:  |
|   | of PTIRS and | Total     |        |        |                  |
|   | Mr. Amit     |           |        |        | Lease rent has   |
|   | Lohia is the | Balance   |        |        | been fixed as    |
|   | President    | payable   |        |        | per the rates    |
|   | Director of  |           |        |        | prevailing in    |
|   | PTIRS.       |           |        |        | the market in    |
|   |              |           |        |        | the vicinity.    |
|   | Mr. S.P.     |           |        |        |                  |
|   | Lohia        |           |        |        | Terms of credit: |
|   | family,      |           |        |        |                  |
|   |              |           |        |        | PT IPCI has to   |
|   | directly or  |           |        |        | pay lease rent   |
|   | indirectly,  |           |        |        | to PTIRS once in |
|   | holds        |           |        |        | every 6 months.  |
|   | majority     |           |        |        |                  |
|   | shareholding |           |        |        | Going Forward:   |
|   | in PTIRS.    |           |        |        |                  |
|   |              |           |        |        | Initial lease is |
|   |              |           |        |        | for a period of  |
|   |              |           |        |        | 15 years. The    |
|   |              |           |        |        | transaction can  |
|   |              |           |        |        | further be       |
|   |              |           |        |        | extended after   |
|   |              |           |        |        | the end of       |
|   |              |           |        |        | current lease    |
|   |              |           |        |        | period, and the  |
|   |              |           |        |        | renewal process  |
|   |              |           |        |        | has to be comply |
|   |              |           |        |        | the applicable   |
|   |              |           |        |        | approval         |
|   |              |           |        |        | procedure.       |
+---+--------------+-----------+--------+--------+------------------+
| I | IVL          | Type of   | Year   | Period | Necessity and    |
| t | /Subsidiary- | Tr        | Ended  | Ended  | reasonableness   |
| e |              | ansaction |        |        |                  |
| m | Party having |           | 31     | 31     |                  |
|   | Conflict of  |           | De     | De     |                  |
|   | Interest     |           | cember | cember |                  |
|   |              |           | 2011   | 2012   |                  |
+---+--------------+-----------+--------+--------+------------------+
| 1 | PT. Indorama | Purchase  | Nil    | 0.87   | The option to    |
| 0 | Polychem     | of a      |        |        | buy a vehicle is |
|   | Indonesia    | vehicle   | Nil    | Nil    | the best         |
|   | (PTIPCI) -   | by PT.    |        |        | economic option  |
|   | PT. Indorama | Indorama  |        |        | as compared to   |
|   | Synthetics   | Polychem  |        |        | go for a new     |
|   | TBK (PTIRS)  |           |        |        | vehicle.         |
|   |              | Indonesia |        |        |                  |
|   | Re           | from PT.  |        |        | Pricing method:  |
|   | lationship:  | Indorama  |        |        |                  |
|   |              | S         |        |        | Comparable       |
|   | Mr. S.P.     | ynthetics |        |        | market price for |
|   | Lohia is the | Tbk       |        |        | such kind of     |
|   | President    |           |        |        | vehicle          |
|   | Commissioner | Total     |        |        |                  |
|   | of PTIRS and |           |        |        | Going forward:   |
|   | Mr. Amit     | Other     |        |        |                  |
|   | Lohia is the | payable   |        |        | This is a one    |
|   | President    |           |        |        | time transaction |
|   | Director of  |           |        |        |                  |
|   | PTIRS.       |           |        |        |                  |
|   |              |           |        |        |                  |
|   | Mr. S.P.     |           |        |        |                  |
|   | Lohia        |           |        |        |                  |
|   | family,      |           |        |        |                  |
|   | directly or  |           |        |        |                  |
|   | indirectly,  |           |        |        |                  |
|   | holds        |           |        |        |                  |
|   | majority     |           |        |        |                  |
|   | shareholding |           |        |        |                  |
|   | in PTIRS.    |           |        |        |                  |
+---+--------------+-----------+--------+--------+------------------+
| 1 | Indorama     | Sales of  | Nil    | 0.124  | The old unused   |
| 1 | Ventures     | Me        |        |        | spare part was   |
|   | Polymers     | asurement | Nil    | Nil    | sold to PTIRS    |
|   | México, S.   | Equipment |        |        |                  |
|   | de R.L. de   |           |        |        | Pricing method:  |
|   | C.V. – PT.   | Total     |        |        |                  |
|   | Indorama     |           |        |        | Cost as per the  |
|   | Synthetics   | Other     |        |        | books plus some  |
|   | Tbk          | payable   |        |        | margin           |
|   |              |           |        |        |                  |
|   | R            |           |        |        | Going Forward:   |
|   | elationship: |           |        |        |                  |
|   |              |           |        |        | It is a one time |
|   | Mr. S.P.     |           |        |        | transaction      |
|   | Lohia is the |           |        |        |                  |
|   | President    |           |        |        |                  |
|   | Commissioner |           |        |        |                  |
|   | in P IRS.    |           |        |        |                  |
|   | Mr. Amit     |           |        |        |                  |
|   | Lohia is the |           |        |        |                  |
|   | President    |           |        |        |                  |
|   | Director in  |           |        |        |                  |
|   | PTIRS. Mr.   |           |        |        |                  |
|   | SP Lohia     |           |        |        |                  |
|   | family,      |           |        |        |                  |
|   | directly or  |           |        |        |                  |
|   | indirectly,  |           |        |        |                  |
|   | has majority |           |        |        |                  |
|   | shareholding |           |        |        |                  |
|   | in PT. IRS.  |           |        |        |                  |
|   |              |           |        |        |                  |
|   | Mr. SP Lohia |           |        |        |                  |
|   | is Chairman  |           |        |        |                  |
|   | and Mr. Amit |           |        |        |                  |
|   | Lohia is     |           |        |        |                  |
|   | Direcotr of  |           |        |        |                  |
|   | IVL,         |           |        |        |                  |
|   | Thailand.    |           |        |        |                  |
+---+--------------+-----------+--------+--------+------------------+
| 1 | PT. Indorama | Sharing   | NIL    | 1.20   | Some man power   |
| 2 | Polypet      | of        |        |        | is shared to     |
|   | Indonesia    | certain   | NIL    |        | obtain synergy   |
|   | (PTIPPI) -   | man power |        |        | and conserve the |
|   | PT. Indorama | for some  |        |        | cost of man      |
|   | Pe           | common    |        |        | power            |
|   | trochemicals | services  |        |        |                  |
|   | (PTIP)       | and       |        |        | Pricing Method:  |
|   |              | others    |        |        |                  |
|   | Re           |           |        |        | At cost to       |
|   | lationship:  | Total     |        |        | respective       |
|   |              |           |        |        | entity           |
|   | -   Mr. S.P. | Other     |        |        |                  |
|   |     Lohia is | r         |        |        | Going forward:   |
|   |     the      | eceivable |        |        |                  |
|   |     Chairman |           |        |        | Sharing of some  |
|   |     of IVL   |           |        |        | man power for    |
|   |     and      |           |        |        | some common      |
|   |              |           |        |        | services shall   |
|   |    President |           |        |        | continue         |
|   |              |           |        |        |                  |
|   | Commissioner |           |        |        |                  |
|   |     of PTIP. |           |        |        |                  |
|   |              |           |        |        |                  |
|   | -   Mr. Amit |           |        |        |                  |
|   |     Lohia is |           |        |        |                  |
|   |     a        |           |        |        |                  |
|   |     director |           |        |        |                  |
|   |     of IVL   |           |        |        |                  |
|   |     and      |           |        |        |                  |
|   |              |           |        |        |                  |
|   | Commissioner |           |        |        |                  |
|   |     of PTIP  |           |        |        |                  |
+---+--------------+-----------+--------+--------+------------------+
| I | IVL          | Type of   | Year   | Period | Necessity and    |
| t | /Subsidiary- | Tr        | Ended  | Ended  | reasonableness   |
| e |              | ansaction |        |        |                  |
| m | Party having |           | 31     | 31     |                  |
|   | Conflict of  |           | De     | De     |                  |
|   | Interest     |           | cember | cember |                  |
|   |              |           | 2011   | 2012   |                  |
+---+--------------+-----------+--------+--------+------------------+
|   | -   Mr. SP   |           |        |        |                  |
|   |     Lohia is |           |        |        |                  |
|   |     the      |           |        |        |                  |
|   |              |           |        |        |                  |
|   |    President |           |        |        |                  |
|   |              |           |        |        |                  |
|   | Commissioner |           |        |        |                  |
|   |     and Mr.  |           |        |        |                  |
|   |     Amit     |           |        |        |                  |
|   |     Lohia is |           |        |        |                  |
|   |     the      |           |        |        |                  |
|   |              |           |        |        |                  |
|   |    President |           |        |        |                  |
|   |     Director |           |        |        |                  |
|   |     of       |           |        |        |                  |
|   |     PTIRS,   |           |        |        |                  |
|   |     which is |           |        |        |                  |
|   |     one of   |           |        |        |                  |
|   |     the      |           |        |        |                  |
|   |     major    |           |        |        |                  |
|   |              |           |        |        |                  |
|   | shareholders |           |        |        |                  |
|   |     of PTIP  |           |        |        |                  |
|   |     and      |           |        |        |                  |
|   |     Mr.SP    |           |        |        |                  |
|   |     Lohia    |           |        |        |                  |
|   |     family   |           |        |        |                  |
|   |     holds,   |           |        |        |                  |
|   |     direcly  |           |        |        |                  |
|   |     or       |           |        |        |                  |
|   |              |           |        |        |                  |
|   |  indirectly, |           |        |        |                  |
|   |     majority |           |        |        |                  |
|   |              |           |        |        |                  |
|   |  sharholding |           |        |        |                  |
|   |     in       |           |        |        |                  |
|   |     PTIRS.   |           |        |        |                  |
|   |              |           |        |        |                  |
|   | Further,     |           |        |        |                  |
|   | Mr.S.P.Lohia |           |        |        |                  |
|   | is the       |           |        |        |                  |
|   | President    |           |        |        |                  |
|   | Commissioner |           |        |        |                  |
|   | and Mr.Amit  |           |        |        |                  |
|   | Lohia is the |           |        |        |                  |
|   | Director of  |           |        |        |                  |
|   | PT Indorama  |           |        |        |                  |
|   | Polypet      |           |        |        |                  |
|   | Indonesia    |           |        |        |                  |
+---+--------------+-----------+--------+--------+------------------+

Relationship with Connected Parties

Connected parties are those parties linked to the Group and the Company
as shareholders or by common shareholders or directors. The
relationships within the Group are as follows:

+-------------------------+-----------+--------------------------------+
| Name of entities        | Country   | Nature of relationships        |
|                         | of        |                                |
|                         | Inco      |                                |
|                         | rporation |                                |
+-------------------------+-----------+--------------------------------+
| Indo Rama Synthetics    | India     | Mr. Om Prakash Lohia is a      |
| (India) Ltd.            |           | major shareholder of Indo Rama |
|                         |           | Synthetics (India) Ltd. and is |
|                         |           | a blood brother of Mr. Sri     |
|                         |           | Prakash Lohia and Mr. Aloke    |
|                         |           | Lohia                          |
+-------------------------+-----------+--------------------------------+
| PT. Indo-Rama           | Indonesia | Mr. Sri Prakash Lohia and Mr.  |
| Synthetics Tbk          |           | Amit Lohia are the major       |
|                         |           | shareholders of PT. Indo-Rama  |
|                         |           | Synthetics Tbk                 |
+-------------------------+-----------+--------------------------------+
| Pacific Resources Ltd.  | Thailand  | Mr. Anuj Lohia is a major      |
|                         |           | shareholder of Pacific         |
|                         |           | Resources Ltd. and is a son of |
|                         |           | Mr. Aloke Lohia                |
+-------------------------+-----------+--------------------------------+
| Cryoviva (Thailand)     | Thailand  | Mr. Aloke Lohia is a           |
| Ltd.                    |           | controlling person of Cryoviva |
|                         |           | (Thailand) Ltd.                |
+-------------------------+-----------+--------------------------------+
| Lohia Global Holding    | Hong Kong | Mr. Mohan Lal Lohia is a major |
| Limited                 |           | shareholder of Lohia Global    |
|                         |           | Holdings Limited and is        |
+-------------------------+-----------+--------------------------------+
| Name of entities        | Country   | Nature of relationships        |
|                         | of        |                                |
|                         | Inco      |                                |
|                         | rporation |                                |
+-------------------------+-----------+--------------------------------+
|                         |           | father of Mr. Sri Prakash      |
|                         |           | Lohia and Mr. Aloke Lohia      |
+-------------------------+-----------+--------------------------------+
| Indorama Eleme          | Nigeria   | Mr. Sri Prakash Lohia and Mr.  |
| PetrochemicalsLtd.      |           | Amit Lohia are the directors   |
|                         |           | of Indorama Eleme              |
|                         |           | Petrochemicals Co., Ltd. and   |
|                         |           | Mr.Sri Prakash Lohia family is |
|                         |           | holding, directly or           |
|                         |           | indirectly, majority           |
|                         |           | shareholding in it             |
+-------------------------+-----------+--------------------------------+
| MJETS Limited           | Thailand  | The major shareholders of      |
|                         |           | MJETS Limited are the two sons |
|                         |           | of Mr. William E. Heinecke who |
|                         |           | is the director of Indorama    |
|                         |           | Ventures PCL                   |
+-------------------------+-----------+--------------------------------+
| PT Irama Unggul         | Indonesia | Mr. S. P. Lohia family,        |
|                         |           | directly or indirectly, has    |
|                         |           | shareholding in PT Irama       |
|                         |           | Unggul and                     |
+-------------------------+-----------+--------------------------------+
|                         |           | Mrs. Aarti Lohia, wife of      |
|                         |           | Mr.Amit Lohia, is the          |
|                         |           | Commissioner of PT Irama       |
|                         |           | Unggul.                        |
+-------------------------+-----------+--------------------------------+
| PT Indorama             | Indonesia | Mr. S.P. Lohia, Chairman of    |
| Petrochemiclas          |           | IVL, is the President          |
|                         |           | Commissioner and Mr. Amit      |
|                         |           | Lohia, Director of IVL, is the |
|                         |           | President Director of PT       |
|                         |           | Indorama Synthetics Tbk, which |
|                         |           | is one of the major            |
|                         |           | shareholder of PT Indorama     |
|                         |           | Petrochemicals and Mr. SP      |
|                         |           | Lohia family holds, directly   |
|                         |           | or indirectly, majority        |
|                         |           | shareholding in Indorama       |
|                         |           | Synthetics Tbk.                |
|                         |           |                                |
|                         |           | Further, Mr.S.P.Lohia is the   |
|                         |           | President Commissioner and     |
|                         |           | Mr.Amit Lohia is the Director  |
|                         |           | of PT Indorama Petrochemicals  |
+-------------------------+-----------+--------------------------------+

The Audit Committee Opinion on the Connected Transaction

The above connected transactions have been considered and opined by the
Company’s Audit Committee that the aforesaid connected transactions are
reasonable and undertaken in the interest of the Company’s business.
While entering into these transactions, the Committee considers the best
interest of the Company. No additional benefit has been transferred
between the Company and the persons who have the conflict of interest.

Policy and Procedure to Approve Connected Transaction

In the event that the Company carries out its business with the
connected persons who may have a conflict of interest with the Company,
the Audit Committee will express its opinion regarding the necessity of
such transactions. The Audit Committee will ensure that terms and
conditions of these transactions are consistent with market practice and
prices charged for these transactions are evaluated and compared with
market prices. In the event that market price is not available, the
Audit Committee must ensure that these prices are reasonable and the
transactions are carried out in the best interest of the Company and its
shareholders. If the Audit Committee is unable to evaluate connected
transactions due to lack of expertise in certain areas, the Company will
arrange an independent expert to evaluate and give opinion on such
transactions. The Board of Directors or Audit Committee or the Company
shareholders, as the case may be, will use this opinion from the
independent expert as a supplement to form their own conclusion. Those
directors who may have conflict of interest with the Company are
prohibited from either voting or attending the meeting on matters
regarding to the said connected transactions and disclose in Annual
Report and Annual Registration

Policy on the Entering into a New Connected Transaction

For any new connected transaction, the respective unit would need to
contact the Secretary of the Audit Committee and inform about the
proposed transaction, its rationale, value of transaction, pricing,
terms and conditions in order for the Secretary of the Audit Committee
to classify under which category of connected transaction it would fall
into and to get necessary approval from the Management/Audit Committee/
Board/Shareholders as required. Moreover, the Company will ensure that
such transactions are carried out in compliance with the SEC Act, rules,
notifications and regulations of the Capital Market Supervisory Board,
SEC and SET. In addition, the Company must also comply with the
disclosure rules related to connected transactions and the Company’s
policy. All connected transactions are reviewed and confirmed by the
Internal Audit department.

In addition, when the Company proposes to conduct its business with a
connected person, the Company will seek the Audit Committee’s opinion on
the reasonableness of such transactions. It is the intention of the
Company and its subsidiaries not to enter into any connected
transactions with their directors or executives.

However, the Company and its subsidiaries may have connected
transactions with their directors, executives or potential connected
persons. As a result, the Board of Directors approves in principle, that
the management is empowered to approve such transactions under the
reasonable, transparent and uncorrupted conditions, provided that such
transaction is categorized as a transaction with the same commercial
terms as those an ordinary person would agree with any unrelated
counterparty under similar circumstances, on the basis of commercial
negotiation (general trading conditions) and without any dependant
interest resulted from the status of director, executive or connected
person, as the case may be.

However for any connected transaction other than offer and/or receipt of
financial assistance, the management can approve a single transaction of
up to a value of USD 50,000 and not over USD 100,000 in aggregate for
such transaction in a fiscal year. Such transactions will be separately
reported quarterly to the Audit Committee/Board by Internal Audit
Department.

Transaction values over the said prescribed limit will follow the normal
approval process.

The connected transaction policy is periodically reviewed by the Audit
Committee.