5. LALINs’ Asset

1.  Cash on Hand and Equivalent Items

  As of December 31, 2005, partly in amount of Baht 150 million which
  was the investment in form of treasury bill within 45 days with
  interest rate at 3.27 % per annum.

2.  Inventories

Consist of :

  ------------------------------------ ------------------ -- ------------------
                                       As of                 

                                       December 31, 2005     December 31, 2004

                                       Baht                  Baht

  Land                                 642,121,038.12        1,013,077,252.68

  Land and House                       1,201,524,821.96      906,301,976.72

  Construction                         593,614,452.14        574,308,842.39

  Deferred Interest                    41,797,020.06         32,899,676.34

  Deferred Land Development            254,368,231.46        313,803,728.01

  Deferred Utilities                   694,349,968.30        620,617,737.58

  Work in process- Furniture           16,675,061.47         697,875.00

  Total                                3,444,450,593.51      3,461,707,088.72
  ------------------------------------ ------------------ -- ------------------

  As of December 31, 2005 and 2004, most of land were mortgaged as
  collateral against credit from commercial bank as in Note 11. As of
  December 31, 2005, land were mortgaged as collateral against credit in
  amount of Baht 1,316.89 million.

3.  Other Current Assets-Net

Consist of :

  ------------------------------------- --------------- -- ---------------
                                        As of              

                                        December 31,       December 31,
                                        2005               2004

                                        Baht               Baht

  Prepaid Expenses                      17,010,403.52      17,508,753.91

  Advance Payment                       8,223,884.26       8,625,766.09

  Others                                164,532.45         15,836.69

  Total                                 25,398,820.23      26,150,356.69

  Less Allowance for Doubtful Debt-     ( 740,114.03)      ( 774,722.35)
  Advance Payment                                          

  Net                                   24,658,706.20      25,375,634.34
  ------------------------------------- --------------- -- ---------------

4.  Investment in Securities Available for Sale – Net

Consist of :

  --------------------- ---------------- -- ---------------- -- ---------------- -- ----------------
                        As of                                                       

                        December 31,                            December 31,        
                        2005                                    2004                

                        Cost                Fair value          Cost                Fair value

                        Baht                Baht                Baht                Baht

  Investment in the                                                                 
  Open Fund                                                                         

  - TMB Money Fund      11,818,883.70       11,960,127.02       263,590,342.28      264,227,320.47

  - Bualuang Thanatavee 296,000,000.00      296,060,424.22      -                   -

  Total                 307,818,883.70      308,020,551.24      263,590,342.28      264,227,320.47
  --------------------- ---------------- -- ---------------- -- ---------------- -- ----------------

5.  Property, Plant and Equipment-Net

Consist of :

  ----------------------- ----------------- -- ----------------- -- ---------------- -------------- -- -- ------------------ ---------------
                          As of                Increase/                             Sale/                                   As of

                          December 31, 2004    Transfer in                           Transfer out                            December 31,
                                                                                                                             2005

                          Baht                 Baht                                  Baht                                    Baht

  Cost                                                                                                                       

  Land                    41,327,681.29        -                                     -                                       41,327,681.29

  Land-Clubhouses and     3,590,495.02         -                                     -                                       3,590,495.02
  Swimming Pool                                                                                                              

  Building                28,835,249.77        -                                     -                                       28,835,249.77

  Building-Clubhouses and 18,969,250.30        -                                     -                                       18,969,250.30
  Swimming Pool                                                                                                              

  Office Equipment        20,655,738.47        1,826,756.39                          -                                       22,482,494.86

  Office Furniture        49,773,586.10        101,818.50                            (367,694.00)                            49,507,710.60

  Vehicles                46,806,380.00        4,125,472.00                          (751,000.00)                            50,180,852.00

  Container               433,822.00           -                                     -                                       433,822.00

  Sale Office             448,694.27           -                                     -                                       448,694.27

  Computer Network and    -                    4,638,149.80                          -                                       4,638,149.80
  Call Center                                                                                                                

  Total Cost              210,840,897.22       10,692,196.69        (1,118,694.00)                        220,414,399.91     

  Accumulated                                                                                                                
  Depreciation:                                                                                                              

  Building                (16,490,892.51)      (1,441,762.00)       -                                     (17,932,654.51)    

  Building-Clubhouses and (10,032,225.92)      (3,336,934.18)       -                                     (13,369,160.10)    
  Swimming Pool                                                                                                              

  Office Equipment        (12,588,404.51)      (3,272,250.92)       -                                     (15,860,655.43)    

  Office Furniture        (28,588,358.82)      (7,888,528.59)       364,626.03                            (36,112,261.38)    

  Vehicles                (26,263,402.98)      (5,580,999.99)       497,200.83                            (31,347,202.14)    

  Container               (433,819.00)         -                    -                                     (433,819.00)       

  Sale Office             (448,051.70)         (634.58)             -                                     (448,686.28)       

  Computer Network and    -                    (235,116.98)         -                                     (235,116.98)       
  Call Center                                                                                                                

  Total Accumulated       (94,845,155.44)      (21,756,227.24)      861,826.86                            (115,739,555.82)   
  depreciation                                                                                                               

  Property Plant and      115,995,741.78       (11,064,030.55)      (256,867.14)                          104,674,844.09     
  Equipment - net                                                                                                            
  ----------------------- ----------------- -- ----------------- -- ---------------- -------------- -- -- ------------------ ---------------

Depreciation

For the years ended on December 31,

2005 756,227.24

2006 22,622,550.47

  As of December 31, 2005 and 2004, land and building from head office
  which have the book value in amount of Baht 50.88 million and Baht
  52.32 million respectively were mortgaged as collateral against credit
  from commercial bank as in Note 11.

  As of December 31, 2005 and 2004, the Company had assets with the
  depreciation fully calculated but still in use which had a cost value
  in amount of Baht 48.63 million and Baht 29.33 million respectively.
  The net book value of which was now in amount of Baht 622 and Baht 373
  respectively.

6.  Land Awaiting Development

  As of December 31, 2005 and 2004, land awaiting development were
  purchased more 1 year and undeveloped. Land awaiting development were
  included related expenses by express on non-current assets and will be
  shown as inventory when the land is developed.

7.  Other Non-Current Asset-Net

Consist of :

+--------------------------------------+--------------+---+-------------+
|                                      | As of        |   |             |
+--------------------------------------+--------------+---+-------------+
|                                      | December 31, |   | December    |
|                                      | 2005         |   | 31, 2004    |
+--------------------------------------+--------------+---+-------------+
|                                      | Baht         |   | Baht        |
+--------------------------------------+--------------+---+-------------+
| Withholding Income Tax               | 5,507,055.93 |   | 5           |
|                                      |              |   | ,507,055.93 |
+--------------------------------------+--------------+---+-------------+
| Land Deposit                         | 8,579,750.00 |   | -           |
+--------------------------------------+--------------+---+-------------+
| Other Deposits and Guarantee         | 663,476.45   |   | 1           |
|                                      |              |   | ,091,739.28 |
+--------------------------------------+--------------+---+-------------+
| Deferred Expenses                    | 2,354,000.00 |   | 2           |
|                                      |              |   | ,354,000.00 |
+--------------------------------------+--------------+---+-------------+
| Prepaid Expenses                     | 3,459,780.50 |   | 3           |
|                                      |              |   | ,994,625.38 |
+--------------------------------------+--------------+---+-------------+
| Other                                | -            |   | 440,000.00  |
+--------------------------------------+--------------+---+-------------+
|   Total                              | 2            |   | 13          |
|                                      | 0,564,062.88 |   | ,387,420.59 |
+--------------------------------------+--------------+---+-------------+
| Less Allowance for Withholding       | (5           |   | (5,         |
| Income Tax                           | ,507,055.93) |   | 507,055.93) |
+--------------------------------------+--------------+---+-------------+
| Net                                  | 1            |   | 7           |
|                                      | 5,057,006.95 |   | ,880,364.66 |
+--------------------------------------+--------------+---+-------------+