11. Connected party transactions 

During the years 2002 and 2001, the Company had significant business
transactions with its subsidiary, associated and related companies
(related by way of common shareholders and/or common directors) as
follows :-

(Unit : Thousand Baht)

[TABLE]

(Unit : Thousand Baht)

+-------------------+------+------+------+------+---+------------------+---+
|                   | CONS |      | THE  |      | I |                  |   |
|                   | OLID |      | COM  |      | n |                  |   |
|                   | ATED |      | PANY |      | t |                  |   |
|                   |      |      | ONLY |      | e |                  |   |
|                   |      |      |      |      | r |                  |   |
|                   |      |      |      |      | c |                  |   |
|                   |      |      |      |      | o |                  |   |
|                   |      |      |      |      | m |                  |   |
|                   |      |      |      |      | p |                  |   |
|                   |      |      |      |      | a |                  |   |
|                   |      |      |      |      | n |                  |   |
|                   |      |      |      |      | y |                  |   |
|                   |      |      |      |      | p |                  |   |
|                   |      |      |      |      | r |                  |   |
|                   |      |      |      |      | i |                  |   |
|                   |      |      |      |      | c |                  |   |
|                   |      |      |      |      | i |                  |   |
|                   |      |      |      |      | n |                  |   |
|                   |      |      |      |      | g |                  |   |
|                   |      |      |      |      | p |                  |   |
|                   |      |      |      |      | o |                  |   |
|                   |      |      |      |      | l |                  |   |
|                   |      |      |      |      | i |                  |   |
|                   |      |      |      |      | c |                  |   |
|                   |      |      |      |      | i |                  |   |
|                   |      |      |      |      | e |                  |   |
|                   |      |      |      |      | s |                  |   |
+-------------------+------+------+------+------+---+------------------+---+
|                   | 2002 | 2001 | 2002 | 2001 |   |                  |   |
+-------------------+------+------+------+------+---+------------------+---+
| Interest income – | 180  | 142  | -    | -    | I |                  |   |
| KGII              | ,546 | ,401 |      |      | n |                  |   |
|                   |      |      |      |      | t |                  |   |
| (KGI Group is a   |      |      |      |      | e |                  |   |
| major shareholder |      |      |      |      | r |                  |   |
| of KGII and of    |      |      |      |      | e |                  |   |
| the Company)      |      |      |      |      | s |                  |   |
|                   |      |      |      |      | t |                  |   |
|                   |      |      |      |      | r |                  |   |
|                   |      |      |      |      | a |                  |   |
|                   |      |      |      |      | t |                  |   |
|                   |      |      |      |      | e |                  |   |
|                   |      |      |      |      | a |                  |   |
|                   |      |      |      |      | t |                  |   |
|                   |      |      |      |      | 6 |                  |   |
|                   |      |      |      |      | % |                  |   |
|                   |      |      |      |      | p |                  |   |
|                   |      |      |      |      | . |                  |   |
|                   |      |      |      |      | a |                  |   |
|                   |      |      |      |      | . |                  |   |
+-------------------+------+------+------+------+---+------------------+---+
|                   |      |      |      |      |   |                  |   |
+-------------------+------+------+------+------+---+------------------+---+
| Brokerage fee     |      |      |      |      |   |                  |   |
| income            |      |      |      |      |   |                  |   |
+-------------------+------+------+------+------+---+------------------+---+
| KGI Asia Limited  | 4    | 795  | 4    | 795  | B |                  |   |
| (KGI Group is a   | ,093 |      | ,093 |      | r |                  |   |
| major shareholder |      |      |      |      | o |                  |   |
| of KGI Asia       |      |      |      |      | k |                  |   |
| Limited and of    |      |      |      |      | e |                  |   |
| the Company)      |      |      |      |      | r |                  |   |
|                   |      |      |      |      | a |                  |   |
|                   |      |      |      |      | g |                  |   |
|                   |      |      |      |      | e |                  |   |
|                   |      |      |      |      | f |                  |   |
|                   |      |      |      |      | e |                  |   |
|                   |      |      |      |      | e |                  |   |
|                   |      |      |      |      | a |                  |   |
|                   |      |      |      |      | t |                  |   |
|                   |      |      |      |      | 0 |                  |   |
|                   |      |      |      |      | . |                  |   |
|                   |      |      |      |      | 0 |                  |   |
|                   |      |      |      |      | 1 |                  |   |
|                   |      |      |      |      | 2 |                  |   |
|                   |      |      |      |      | % |                  |   |
|                   |      |      |      |      | o |                  |   |
|                   |      |      |      |      | f |                  |   |
|                   |      |      |      |      | t |                  |   |
|                   |      |      |      |      | r |                  |   |
|                   |      |      |      |      | a |                  |   |
|                   |      |      |      |      | d |                  |   |
|                   |      |      |      |      | e |                  |   |
|                   |      |      |      |      | v |                  |   |
|                   |      |      |      |      | a |                  |   |
|                   |      |      |      |      | l |                  |   |
|                   |      |      |      |      | u |                  |   |
|                   |      |      |      |      | e |                  |   |
|                   |      |      |      |      | f |                  |   |
|                   |      |      |      |      | o |                  |   |
|                   |      |      |      |      | r |                  |   |
|                   |      |      |      |      | t |                  |   |
|                   |      |      |      |      | h |                  |   |
|                   |      |      |      |      | e |                  |   |
|                   |      |      |      |      | y |                  |   |
|                   |      |      |      |      | e |                  |   |
|                   |      |      |      |      | a |                  |   |
|                   |      |      |      |      | r |                  |   |
|                   |      |      |      |      | 2 |                  |   |
|                   |      |      |      |      | 0 |                  |   |
|                   |      |      |      |      | 0 |                  |   |
|                   |      |      |      |      | 1 |                  |   |
|                   |      |      |      |      | a |                  |   |
|                   |      |      |      |      | n |                  |   |
|                   |      |      |      |      | d |                  |   |
|                   |      |      |      |      | 0 |                  |   |
|                   |      |      |      |      | . |                  |   |
|                   |      |      |      |      | 2 |                  |   |
|                   |      |      |      |      | 5 |                  |   |
|                   |      |      |      |      | % |                  |   |
|                   |      |      |      |      | f |                  |   |
|                   |      |      |      |      | r |                  |   |
|                   |      |      |      |      | o |                  |   |
|                   |      |      |      |      | m |                  |   |
|                   |      |      |      |      | 1 |                  |   |
|                   |      |      |      |      | 4 |                  |   |
|                   |      |      |      |      | J |                  |   |
|                   |      |      |      |      | a |                  |   |
|                   |      |      |      |      | n |                  |   |
|                   |      |      |      |      | u |                  |   |
|                   |      |      |      |      | a |                  |   |
|                   |      |      |      |      | r |                  |   |
|                   |      |      |      |      | y |                  |   |
|                   |      |      |      |      | 2 |                  |   |
|                   |      |      |      |      | 0 |                  |   |
|                   |      |      |      |      | 0 |                  |   |
|                   |      |      |      |      | 2 |                  |   |
|                   |      |      |      |      | o |                  |   |
|                   |      |      |      |      | n |                  |   |
|                   |      |      |      |      | w |                  |   |
|                   |      |      |      |      | a |                  |   |
|                   |      |      |      |      | r |                  |   |
|                   |      |      |      |      | d |                  |   |
+-------------------+------+------+------+------+---+------------------+---+
|                   |      |      |      |      |   |                  |   |
+-------------------+------+------+------+------+---+------------------+---+
| KGI Securities    | 279  | 106  | 279  | 106  | B |                  |   |
| Co., Ltd.         |      |      |      |      | r |                  |   |
|                   |      |      |      |      | o |                  |   |
| (Formerly know as |      |      |      |      | k |                  |   |
| "China            |      |      |      |      | e |                  |   |
|                   |      |      |      |      | r |                  |   |
|                   |      |      |      |      | a |                  |   |
|                   |      |      |      |      | g |                  |   |
|                   |      |      |      |      | e |                  |   |
|                   |      |      |      |      | f |                  |   |
|                   |      |      |      |      | e |                  |   |
|                   |      |      |      |      | e |                  |   |
|                   |      |      |      |      | a |                  |   |
|                   |      |      |      |      | t |                  |   |
|                   |      |      |      |      | 0 |                  |   |
|                   |      |      |      |      | . |                  |   |
|                   |      |      |      |      | 0 |                  |   |
|                   |      |      |      |      | 1 |                  |   |
|                   |      |      |      |      | 2 |                  |   |
|                   |      |      |      |      | % |                  |   |
|                   |      |      |      |      | o |                  |   |
|                   |      |      |      |      | f |                  |   |
|                   |      |      |      |      | t |                  |   |
|                   |      |      |      |      | r |                  |   |
|                   |      |      |      |      | a |                  |   |
|                   |      |      |      |      | d |                  |   |
|                   |      |      |      |      | e |                  |   |
|                   |      |      |      |      | v |                  |   |
|                   |      |      |      |      | a |                  |   |
|                   |      |      |      |      | l |                  |   |
|                   |      |      |      |      | u |                  |   |
|                   |      |      |      |      | e |                  |   |
|                   |      |      |      |      | f |                  |   |
|                   |      |      |      |      | o |                  |   |
|                   |      |      |      |      | r |                  |   |
|                   |      |      |      |      | t |                  |   |
|                   |      |      |      |      | h |                  |   |
|                   |      |      |      |      | e |                  |   |
|                   |      |      |      |      | y |                  |   |
|                   |      |      |      |      | e |                  |   |
|                   |      |      |      |      | a |                  |   |
|                   |      |      |      |      | r |                  |   |
|                   |      |      |      |      | 2 |                  |   |
|                   |      |      |      |      | 0 |                  |   |
|                   |      |      |      |      | 0 |                  |   |
|                   |      |      |      |      | 1 |                  |   |
|                   |      |      |      |      | a |                  |   |
|                   |      |      |      |      | n |                  |   |
|                   |      |      |      |      | d |                  |   |
|                   |      |      |      |      | 0 |                  |   |
|                   |      |      |      |      | . |                  |   |
|                   |      |      |      |      | 2 |                  |   |
|                   |      |      |      |      | 5 |                  |   |
|                   |      |      |      |      | % |                  |   |
|                   |      |      |      |      | f |                  |   |
|                   |      |      |      |      | r |                  |   |
|                   |      |      |      |      | o |                  |   |
|                   |      |      |      |      | m |                  |   |
|                   |      |      |      |      | 1 |                  |   |
|                   |      |      |      |      | 4 |                  |   |
|                   |      |      |      |      | J |                  |   |
|                   |      |      |      |      | a |                  |   |
|                   |      |      |      |      | n |                  |   |
|                   |      |      |      |      | u |                  |   |
|                   |      |      |      |      | a |                  |   |
|                   |      |      |      |      | r |                  |   |
|                   |      |      |      |      | y |                  |   |
|                   |      |      |      |      | 2 |                  |   |
|                   |      |      |      |      | 0 |                  |   |
|                   |      |      |      |      | 0 |                  |   |
|                   |      |      |      |      | 2 |                  |   |
|                   |      |      |      |      | o |                  |   |
|                   |      |      |      |      | n |                  |   |
|                   |      |      |      |      | w |                  |   |
|                   |      |      |      |      | a |                  |   |
|                   |      |      |      |      | r |                  |   |
|                   |      |      |      |      | d |                  |   |
+-------------------+------+------+------+------+---+------------------+---+
|                   |      |      |      |      |   |                  |   |
+-------------------+------+------+------+------+---+------------------+---+
| Securities Co.,   |      |      |      |      | B |                  |   |
| Ltd." (KGI Group  |      |      |      |      | r |                  |   |
| is a major        |      |      |      |      | o |                  |   |
| shareholder of    |      |      |      |      | k |                  |   |
| KGI Securities    |      |      |      |      | e |                  |   |
| Co, Ltd and of    |      |      |      |      | r |                  |   |
| the Company)      |      |      |      |      | a |                  |   |
|                   |      |      |      |      | g |                  |   |
|                   |      |      |      |      | e |                  |   |
|                   |      |      |      |      | f |                  |   |
|                   |      |      |      |      | e |                  |   |
|                   |      |      |      |      | e |                  |   |
|                   |      |      |      |      | a |                  |   |
|                   |      |      |      |      | t |                  |   |
|                   |      |      |      |      | 0 |                  |   |
|                   |      |      |      |      | . |                  |   |
|                   |      |      |      |      | 0 |                  |   |
|                   |      |      |      |      | 1 |                  |   |
|                   |      |      |      |      | 2 |                  |   |
|                   |      |      |      |      | % |                  |   |
|                   |      |      |      |      | o |                  |   |
|                   |      |      |      |      | f |                  |   |
|                   |      |      |      |      | t |                  |   |
|                   |      |      |      |      | r |                  |   |
|                   |      |      |      |      | a |                  |   |
|                   |      |      |      |      | d |                  |   |
|                   |      |      |      |      | e |                  |   |
|                   |      |      |      |      | v |                  |   |
|                   |      |      |      |      | a |                  |   |
|                   |      |      |      |      | l |                  |   |
|                   |      |      |      |      | u |                  |   |
|                   |      |      |      |      | e |                  |   |
|                   |      |      |      |      | f |                  |   |
|                   |      |      |      |      | o |                  |   |
|                   |      |      |      |      | r |                  |   |
|                   |      |      |      |      | t |                  |   |
|                   |      |      |      |      | h |                  |   |
|                   |      |      |      |      | e |                  |   |
|                   |      |      |      |      | y |                  |   |
|                   |      |      |      |      | e |                  |   |
|                   |      |      |      |      | a |                  |   |
|                   |      |      |      |      | r |                  |   |
|                   |      |      |      |      | 2 |                  |   |
|                   |      |      |      |      | 0 |                  |   |
|                   |      |      |      |      | 0 |                  |   |
|                   |      |      |      |      | 1 |                  |   |
|                   |      |      |      |      | a |                  |   |
|                   |      |      |      |      | n |                  |   |
|                   |      |      |      |      | d |                  |   |
|                   |      |      |      |      | 0 |                  |   |
|                   |      |      |      |      | . |                  |   |
|                   |      |      |      |      | 2 |                  |   |
|                   |      |      |      |      | 5 |                  |   |
|                   |      |      |      |      | % |                  |   |
|                   |      |      |      |      | f |                  |   |
|                   |      |      |      |      | r |                  |   |
|                   |      |      |      |      | o |                  |   |
|                   |      |      |      |      | m |                  |   |
|                   |      |      |      |      | 1 |                  |   |
|                   |      |      |      |      | 4 |                  |   |
|                   |      |      |      |      | J |                  |   |
|                   |      |      |      |      | a |                  |   |
|                   |      |      |      |      | n |                  |   |
|                   |      |      |      |      | u |                  |   |
|                   |      |      |      |      | a |                  |   |
|                   |      |      |      |      | r |                  |   |
|                   |      |      |      |      | y |                  |   |
|                   |      |      |      |      | 2 |                  |   |
|                   |      |      |      |      | 0 |                  |   |
|                   |      |      |      |      | 0 |                  |   |
|                   |      |      |      |      | 2 |                  |   |
|                   |      |      |      |      | o |                  |   |
|                   |      |      |      |      | n |                  |   |
|                   |      |      |      |      | w |                  |   |
|                   |      |      |      |      | a |                  |   |
|                   |      |      |      |      | r |                  |   |
|                   |      |      |      |      | d |                  |   |
+-------------------+------+------+------+------+---+------------------+---+
|                   |      |      |      |      |   |                  |   |
+-------------------+------+------+------+------+---+------------------+---+
| Mana Capital (it  | 6    | -    | 6    | -    | B |                  |   |
| is a fund managed | ,321 |      | ,321 |      | r |                  |   |
| by KGI Asset      |      |      |      |      | o |                  |   |
| Management. For   |      |      |      |      | k |                  |   |
| the year 2002,    |      |      |      |      | e |                  |   |
| KGI Group was a   |      |      |      |      | r |                  |   |
| major shareholder |      |      |      |      | a |                  |   |
| of both KGI Asset |      |      |      |      | g |                  |   |
| Management and of |      |      |      |      | e |                  |   |
| the Company)      |      |      |      |      | f |                  |   |
|                   |      |      |      |      | e |                  |   |
|                   |      |      |      |      | e |                  |   |
|                   |      |      |      |      | a |                  |   |
|                   |      |      |      |      | t |                  |   |
|                   |      |      |      |      | 0 |                  |   |
|                   |      |      |      |      | . |                  |   |
|                   |      |      |      |      | 0 |                  |   |
|                   |      |      |      |      | 1 |                  |   |
|                   |      |      |      |      | 2 |                  |   |
|                   |      |      |      |      | % |                  |   |
|                   |      |      |      |      | o |                  |   |
|                   |      |      |      |      | f |                  |   |
|                   |      |      |      |      | t |                  |   |
|                   |      |      |      |      | r |                  |   |
|                   |      |      |      |      | a |                  |   |
|                   |      |      |      |      | d |                  |   |
|                   |      |      |      |      | e |                  |   |
|                   |      |      |      |      | v |                  |   |
|                   |      |      |      |      | a |                  |   |
|                   |      |      |      |      | l |                  |   |
|                   |      |      |      |      | u |                  |   |
|                   |      |      |      |      | e |                  |   |
|                   |      |      |      |      | f |                  |   |
|                   |      |      |      |      | o |                  |   |
|                   |      |      |      |      | r |                  |   |
|                   |      |      |      |      | t |                  |   |
|                   |      |      |      |      | h |                  |   |
|                   |      |      |      |      | e |                  |   |
|                   |      |      |      |      | y |                  |   |
|                   |      |      |      |      | e |                  |   |
|                   |      |      |      |      | a |                  |   |
|                   |      |      |      |      | r |                  |   |
|                   |      |      |      |      | 2 |                  |   |
|                   |      |      |      |      | 0 |                  |   |
|                   |      |      |      |      | 0 |                  |   |
|                   |      |      |      |      | 1 |                  |   |
|                   |      |      |      |      | a |                  |   |
|                   |      |      |      |      | n |                  |   |
|                   |      |      |      |      | d |                  |   |
|                   |      |      |      |      | 0 |                  |   |
|                   |      |      |      |      | . |                  |   |
|                   |      |      |      |      | 2 |                  |   |
|                   |      |      |      |      | 5 |                  |   |
|                   |      |      |      |      | % |                  |   |
|                   |      |      |      |      | f |                  |   |
|                   |      |      |      |      | r |                  |   |
|                   |      |      |      |      | o |                  |   |
|                   |      |      |      |      | m |                  |   |
|                   |      |      |      |      | 1 |                  |   |
|                   |      |      |      |      | 4 |                  |   |
|                   |      |      |      |      | J |                  |   |
|                   |      |      |      |      | a |                  |   |
|                   |      |      |      |      | n |                  |   |
|                   |      |      |      |      | u |                  |   |
|                   |      |      |      |      | a |                  |   |
|                   |      |      |      |      | r |                  |   |
|                   |      |      |      |      | y |                  |   |
|                   |      |      |      |      | 2 |                  |   |
|                   |      |      |      |      | 0 |                  |   |
|                   |      |      |      |      | 0 |                  |   |
|                   |      |      |      |      | 2 |                  |   |
|                   |      |      |      |      | o |                  |   |
|                   |      |      |      |      | n |                  |   |
|                   |      |      |      |      | w |                  |   |
|                   |      |      |      |      | a |                  |   |
|                   |      |      |      |      | r |                  |   |
|                   |      |      |      |      | d |                  |   |
+-------------------+------+------+------+------+---+------------------+---+
|                   |      |      |      |      |   |                  |   |
+-------------------+------+------+------+------+---+------------------+---+
| Custodian fee     |      |      |      |      |   |                  |   |
| income            |      |      |      |      |   |                  |   |
+-------------------+------+------+------+------+---+------------------+---+
| Hegemony Pte      | 1    | 1    | 1    | 1    |   | Baht 100 of      |   |
| Limited (it is    | ,247 | ,898 | ,247 | ,898 |   | every Baht 1     |   |
| owned by KGI      |      |      |      |      |   | million on daily |   |
| Group and it      |      |      |      |      |   | securities       |   |
| holds shares in   |      |      |      |      |   | outstanding      |   |
| the Company)      |      |      |      |      |   | value            |   |
+-------------------+------+------+------+------+---+------------------+---+
|                   |      |      |      |      |   |                  |   |
+-------------------+------+------+------+------+---+------------------+---+
| Xenner Pte        | 663  | 497  | 663  | 497  |   | Baht 100 of      |   |
| Limited (KGI      |      |      |      |      |   | every Baht 1     |   |
| Group is a major  |      |      |      |      |   | million on daily |   |
| shareholder of    |      |      |      |      |   | securities       |   |
| Xenner Pte., Ltd. |      |      |      |      |   | outstanding      |   |
| Xenner Pte        |      |      |      |      |   | value            |   |
| Limited is a      |      |      |      |      |   |                  |   |
| custodian company |      |      |      |      |   |                  |   |
| holding shares    |      |      |      |      |   |                  |   |
| for clients of    |      |      |      |      |   |                  |   |
| KGI Asia)         |      |      |      |      |   |                  |   |
+-------------------+------+------+------+------+---+------------------+---+
|                   |      |      |      |      |   |                  |   |
+-------------------+------+------+------+------+---+------------------+---+
|   Bangkok Tiger   | 76   | 70   | 76   | 70   |   | Baht 15 of every |   |
|   Limited (it is  |      |      |      |      |   | Baht 1 million   |   |
|   owned by KGI    |      |      |      |      |   | on daily         |   |
|   Group and it    |      |      |      |      |   | securities       |   |
|   holds shares in |      |      |      |      |   | outstanding      |   |
|   the Company)    |      |      |      |      |   | value            |   |
+-------------------+------+------+------+------+---+------------------+---+
|                   |      |      |      |      |   |                  |   |
+-------------------+------+------+------+------+---+------------------+---+
| Pacific Line      | 24   | 19   | 24   | 19   |   | Baht 15 of every |   |
| Limited (it is    |      |      |      |      |   | Baht 1 million   |   |
| owned by KGI      |      |      |      |      |   | on daily         |   |
| Group and it      |      |      |      |      |   | securities       |   |
| holds shares in   |      |      |      |      |   | outstanding      |   |
| the Company)      |      |      |      |      |   | value            |   |
+-------------------+------+------+------+------+---+------------------+---+

(Unit : Thousand Baht)

+-------------------+------+------+------+------+------------------+---+
|                   | CONS |      | THE  |      | Intercompany     |   |
|                   | OLID |      | COM  |      | pricing policies |   |
|                   | ATED |      | PANY |      |                  |   |
|                   |      |      | ONLY |      |                  |   |
+-------------------+------+------+------+------+------------------+---+
|                   | 2002 | 2001 | 2002 | 2001 |                  |   |
+-------------------+------+------+------+------+------------------+---+
| Commission fee    |      |      |      |      |                  |   |
| income – SBL      |      |      |      |      |                  |   |
+-------------------+------+------+------+------+------------------+---+
| Mana Capital (it  | 227  | -    | 227  | -    | Brokerage fee at |   |
| is a fund managed |      |      |      |      | 6.3% of          |   |
| by KGI Asset      |      |      |      |      | securities       |   |
| Management. For   |      |      |      |      | borrowing        |   |
| the year 2002,    |      |      |      |      |                  |   |
| KGI Group was     |      |      |      |      |                  |   |
| major shareholder |      |      |      |      |                  |   |
| of both KGI Asset |      |      |      |      |                  |   |
| Management and of |      |      |      |      |                  |   |
| the Company)      |      |      |      |      |                  |   |
+-------------------+------+------+------+------+------------------+---+
|                   |      |      |      |      |                  |   |
+-------------------+------+------+------+------+------------------+---+
| Sharing of        |      |      |      |      |                  |   |
| regional          |      |      |      |      |                  |   |
| advertising       |      |      |      |      |                  |   |
+-------------------+------+------+------+------+------------------+---+
| Expense           |      |      |      |      |                  |   |
+-------------------+------+------+------+------+------------------+---+
| KGI Securities    | -    | 2    | -    | 2    | As agreed in     |   |
| Co., Ltd.         |      | ,200 |      | ,200 | region           |   |
+-------------------+------+------+------+------+------------------+---+
| (formerly known   |      |      |      |      |                  |   |
| as "China         |      |      |      |      |                  |   |
+-------------------+------+------+------+------+------------------+---+
| Securities Co.,   |      |      |      |      |                  |   |
| Ltd.") (KGI Group |      |      |      |      |                  |   |
| is a major        |      |      |      |      |                  |   |
| shareholder of    |      |      |      |      |                  |   |
| KGI Securities    |      |      |      |      |                  |   |
| and of the        |      |      |      |      |                  |   |
| Company)          |      |      |      |      |                  |   |
+-------------------+------+------+------+------+------------------+---+
|                   |      |      |      |      |                  |   |
+-------------------+------+------+------+------+------------------+---+
| Interest expense  |      |      |      |      |                  |   |
+-------------------+------+------+------+------+------------------+---+
| KGI Asia Limited  | 139  | 1    | -    | -    | Interest rate at |   |
| (KGI Group is a   |      | ,110 |      |      | cost of fund     |   |
| major shareholder |      |      |      |      | plus 1% p.a.     |   |
| of KGI Asia and   |      |      |      |      | (approximately   |   |
| of the Company)   |      |      |      |      | 3.17% p.a.)      |   |
+-------------------+------+------+------+------+------------------+---+
|                   |      |      |      |      |                  |   |
+-------------------+------+------+------+------+------------------+---+
| Mana Capital (it  | 53   | -    | 53   | -    | Interest rate    |   |
| is a fund managed |      |      |      |      | 1-1.25% p.a.     |   |
| by KGI Asset      |      |      |      |      |                  |   |
| Management. For   |      |      |      |      |                  |   |
| the year 2002,    |      |      |      |      |                  |   |
| KGI Group was     |      |      |      |      |                  |   |
| major shareholder |      |      |      |      |                  |   |
| of both KGI Asset |      |      |      |      |                  |   |
| Management and of |      |      |      |      |                  |   |
| the Company)      |      |      |      |      |                  |   |
+-------------------+------+------+------+------+------------------+---+
| Remuneration      |      |      |      |      |                  |   |
| provided to       |      |      |      |      |                  |   |
| directors and     |      |      |      |      |                  |   |
| employees in form |      |      |      |      |                  |   |
| of equity         |      |      |      |      |                  |   |
| securities        |      |      |      |      |                  |   |
+-------------------+------+------+------+------+------------------+---+
| Option to         | -    | -    | -    | -    | The Company      |   |
| purchase 300,000  |      |      |      |      | offered the      |   |
| shares of the     |      |      |      |      | subsidiary       |   |
| subsidiary at par |      |      |      |      | company's        |   |
| value of Baht 10  |      |      |      |      | directors and    |   |
| per share of      |      |      |      |      | employees the    |   |
| subsidiary        |      |      |      |      | option to        |   |
| company           |      |      |      |      | purchase 300,000 |   |
|                   |      |      |      |      | ordinary shares  |   |
| One Asset         |      |      |      |      | of the           |   |
| Management Co.,   |      |      |      |      | subsidiary at    |   |
| Ltd.              |      |      |      |      | par value of     |   |
|                   |      |      |      |      | Baht 10 per      |   |
|                   |      |      |      |      | share. Such      |   |
|                   |      |      |      |      | options were     |   |
|                   |      |      |      |      | fully exercised  |   |
|                   |      |      |      |      | in December      |   |
|                   |      |      |      |      | 2002.            |   |
+-------------------+------+------+------+------+------------------+---+
| Direct            |      |      |      |      |                  |   |
| or’s remuneration |      |      |      |      |                  |   |
+-------------------+------+------+------+------+------------------+---+
|   KGI Securities  | 3    | 4    | 3    | 4    |                  |   |
|   (Thailand) Plc. | ,860 | ,298 | ,860 | ,298 |                  |   |
+-------------------+------+------+------+------+------------------+---+
|   One Asset       |      |      |      |      |                  |   |
|   Management      |      |      |      |      |                  |   |
+-------------------+------+------+------+------+------------------+---+
|   Co., Ltd. (the  | 721  | 495  | -    | -    |                  |   |
|   Company’s       |      |      |      |      |                  |   |
|   subsidiary      |      |      |      |      |                  |   |
|   which is 97%    |      |      |      |      |                  |   |
|   held by the     |      |      |      |      |                  |   |
|   Company)        |      |      |      |      |                  |   |
+-------------------+------+------+------+------+------------------+---+

(Unit : Thousand Baht)

+------------------+-------+-------+-------+-------+------------------+---+
|                  | CO    |       | THE   |       | Intercompany     |   |
|                  | NSOLI |       | CO    |       | pricing policies |   |
|                  | DATED |       | MPANY |       |                  |   |
|                  |       |       | ONLY  |       |                  |   |
+------------------+-------+-------+-------+-------+------------------+---+
|                  | 2002  | 2001  | 2002  | 2001  |                  |   |
+------------------+-------+-------+-------+-------+------------------+---+
|   KGI Securities |       |       |       |       |                  |   |
|   (Thailand)     |       |       |       |       |                  |   |
+------------------+-------+-------+-------+-------+------------------+---+
|   International  | 801   | -     | -     | -     |                  |   |
|   Holdings Ltd.  |       |       |       |       |                  |   |
|   (the Company’s |       |       |       |       |                  |   |
|   wholly owned   |       |       |       |       |                  |   |
|   subsidiary)    |       |       |       |       |                  |   |
+------------------+-------+-------+-------+-------+------------------+---+
|                  |       |       |       |       |                  |   |
+------------------+-------+-------+-------+-------+------------------+---+
|   KGI (Thailand) | 801   | -     | -     | -     |                  |   |
|   Holdings Ltd.  |       |       |       |       |                  |   |
|   (the Company’s |       |       |       |       |                  |   |
|   wholly owned   |       |       |       |       |                  |   |
|   subsidiary)    |       |       |       |       |                  |   |
+------------------+-------+-------+-------+-------+------------------+---+

The outstanding balances of the above transactions, as presented in the
balance sheets are as follows :-

(Unit : Thousand Baht)

+------------------+-------+-------+-------+-------+-------------------+
|                  | Co    |       | The   |       | Intercompany      |
|                  | nsoli |       | Co    |       | pricing policies  |
|                  | dated |       | mpany |       |                   |
|                  |       |       | Only  |       |                   |
+------------------+-------+-------+-------+-------+-------------------+
|                  | 2002  | 2001  | 2002  | 2001  |                   |
+------------------+-------+-------+-------+-------+-------------------+
| Investments in   |       |       |       |       | Interest rate at  |
| bond and         |       |       |       |       | 6% p.a.           |
|                  |       |       |       |       |                   |
| Convertible bond |       |       |       |       |                   |
+------------------+-------+-------+-------+-------+-------------------+
| o Related        |       |       |       |       |                   |
| company^(/1)     |       |       |       |       |                   |
+------------------+-------+-------+-------+-------+-------------------+
| KGII (KGI Group  | 3,08  | 3,12  | -     | -     |                   |
| is a major       | 0,369 | 4,613 |       |       |                   |
| shareholder of   |       |       |       |       |                   |
| KGII and of the  |       |       |       |       |                   |
| Company)         |       |       |       |       |                   |
+------------------+-------+-------+-------+-------+-------------------+

Note: /1 The Extraordinary General Meeting of Shareholder held on 9
January 2003 approved the Company’s capital restructuring plan by
approving KGI Securities (Thailand) International Holdings Limited
(HOLDCO), the Company’s wholly owned subsidiary, to sell its secured
convertible bonds and secured bonds issued by KGI International Holdings
Limited (KGII) (at the price of US$35 million and Bt1,575 million.), to
KG Investment Holdings Limited (KGIH), which is a company in KGI Group.
HOLDCO will sell the bonds including accrued interest till March 21 2003
at the price of US$71.306 million, this price has been commented by IFCR
Advisory Co., :Ltd. as fair and reasonable.

(Unit : Thousand Baht)

[TABLE]

(Unit : Thousand Baht)

  ------------------- -------------- ------ ------- --------- --------- ------ --------- -------------- -------------------
                      Consolidated                  The                                  Intercompany   
                                                    Company                              pricing        
                                                    Only                                 policies       

                      2002           2001           2002                2001                            

  Management fee                                                                                        Management fee at
  payable                                                                                               percentage of

  o Subsidiary                                                                                          0.5 p.a. of net
  company                                                                                               asset value of fund
                                                                                                        at

  One Asset           -                     -                 24               -                        Month end
  Management                                                                                            

  Co., Ltd. (the                                                                                        
  Company’s                                                                                             
  subsidiary which is                                                                                   
  97% held by the                                                                                       
  Company)                                                                                              

  Financial lease                                                                                       Interest rate at
  payable                                                                                               14-15% p.a.

  o Subsidiary                                                                                          
  company                                                                                               

  (excluded from                                                                                        
  consolidation)                                                                                        

  Ace Capital Co.,    2,073                 3,126             2,073            3,126                    
  Ltd.                                                                                                  

  (formerly known as                                                                                    
  "S-One                                                                                                

  Capital Co., Ltd.")                                                                                   
  (the Company’s                                                                                        
  subsidiary which is                                                                                   
  50% held by the                                                                                       
  Company)                                                                                              

  Guarantee given to                                                                                    
  subsidiary                                                                                            

  Company                                                                                               

  o Pledge of                                                                                           
  promissory note and                                                                                   

  bill of exchange to -                     -                 720,000          700,000                  No guarantee fee
  secure loans                                                                                          charged

  o Issue the letter                                                                                    
  of guarantee to                                                                                       

  Secure loan of                                                                                        
  subsidiary                                                                                            

  Company – HOLDCO    -                     -                 -                720,000                  No guarantee fee
  (note 13) (the                                                                                        charged
  Company’s wholly                                                                                      
  owned subsidiary)                                                                                     

                                                                                                        (guarantee fee paid
                                                                                                        to finance

                                                                                                        company at the rate
                                                                                                        of 0.2 percent

                                                                                                        p.a. of outstanding
                                                                                                        guarantee,

                                                                                                        as approximately
                                                                                                        Baht 1.19

                                                                                                        million for a year)
  ------------------- -------------- ------ ------- --------- --------- ------ --------- -------------- -------------------

Necessity of and reason for transactions 

The Company’s connected party transactions, which are interest,
dividend, and fees, are conducted at a fair price and according to
general business practice in compliance with the notifications and
regulations. Opinions from outside directors or independent advisor are
sought when required by regulation.. These transactions are necessary
and reasonable and benefit the Company.

Process on approval of connected party transactions and trend

The Company certifies that future connected transactions between itself
and subsidiaries/associate companies will be conducted at a fair price
and according to general business practice in compliance with the
notifications, regulations, orders or requirements of the SET as well as
stipulations regarding disclosures of information, connected
transactions and acquisitions or disposal of key assets of listed
companies or subsidiaries.

In the event that the transactions of the Company or its subsidiaries
are related to persons who may have special interests or conflicts of
interest in the future, the Company will disclose these in the notes to
the audited financial statements. Those parties who do not have special
interests (i.e., independent Directors, the Audit Committee, an
independent expert or the Company’s auditor) will provide opinions on
the fair price and suitability of such transactions as a basis for
further decision-making by the Board of Directors or the shareholders.