11. Related Transactions

The Company and its subsidiaries have entered into related transactions
with connected person. All of these related transactions are made in the
ordinary course of business and on general trading conditions.

For the approval process, the related transactions are processed in the
same practice as other general trading transactions with outside parties
with the authorized executives designated and empowered to endorse up to
a certain limit of budget according to their respective rank and
position. The Audit Committee of the Company and its subsidiaries is
responsible for reviewing the related transactions every quarter to
ensure that no conflict of interest will be occurred in order to
maximize the overall company’s benefits.

The practice and disclosure about the related transactions have been
followed up strictly under the notifications or rule of the Stock
Exchange of Thailand.

For the fiscal year ended 31 December 2007 and 2006, the Company and its
subsidiaries disclosed the related transactions in the notes to audited
financial statement. Details of the related transactions which were
reviewed by the Audit Committee are as follows;

[TABLE]

+-----------+--------------+------+-----+-----+------+--------------+
| Related   | Detail of    | 31   |     | 31  |      | Rational and |
| parties   | transactions | Dece |     | De  |      | necessity    |
| /Relation |              | mber |     | cem |      |              |
| to the    |              | 2007 |     | ber |      |              |
| Company   |              |      |     | 2   |      |              |
|           |              | (Mil |     | 006 |      |              |
|           |              | lion |     |     |      |              |
|           |              | B    |     | (M  |      |              |
|           |              | aht) |     | ill |      |              |
|           |              |      |     | ion |      |              |
|           |              |      |     | Ba  |      |              |
|           |              |      |     | ht) |      |              |
+===========+==============+======+=====+=====+======+==============+
|           |              | Com  | Con | C   | Cons |              |
|           |              | pany | sol | omp | olid |              |
|           |              |      | ida | any | ated |              |
|           |              |      | ted |     |      |              |
+-----------+--------------+------+-----+-----+------+--------------+
| 5.        | The Company  |      |     |     |      | TMC has a    |
| Teleinfo  | hires TMC to |      |     |     |      | sp           |
| Media     | furnish      |      |     |     |      | ecialization |
| Co., Ltd. | information  |      |     |     |      | in providing |
| (TMC)/    | for mobile   |      |     |     |      | information  |
|           | phone value  |      |     |     |      | for mobile   |
| SHIN is   | added        |      |     |     |      | phone value  |
| an        | service such |      |     |     |      | added        |
| i         | as           |      |     |     |      | service.     |
| ndirectly | astrology,   |      |     |     |      |              |
| major     | lotto, and   |      |     |     |      | The Company  |
| sha       | comic story. |      |     |     |      | pays the     |
| reholder, | The Company  |      |     |     |      | service      |
| holds     | pays actual  |      |     |     |      | charge by    |
| 99.99%.   | services fee |      |     |     |      | the          |
|           | on monthly   |      |     |     |      | percentage   |
|           | basis.       |      |     |     |      | based on     |
|           |              |      |     |     |      | revenue from |
|           |              |      |     |     |      | customers    |
|           |              |      |     |     |      | depended on  |
|           |              |      |     |     |      | the type of  |
|           |              |      |     |     |      | service.     |
|           |              |      |     |     |      | Rate is      |
|           |              |      |     |     |      | charged at   |
|           |              |      |     |     |      | the same     |
|           |              |      |     |     |      | rate as with |
|           |              |      |     |     |      | other        |
|           |              |      |     |     |      | content      |
|           |              |      |     |     |      | provider,    |
|           |              |      |     |     |      | currently at |
|           |              |      |     |     |      | 50-50.       |
+-----------+--------------+------+-----+-----+------+--------------+
|           | 1. Service   | 1.48 | 1   | 1   | 2.21 |              |
|           | income       |      | .51 | .50 |      |              |
+-----------+--------------+------+-----+-----+------+--------------+
|           | 2. Service   | 5    | 59  | 48  | 4    |              |
|           | fee          | 8.94 | .09 | .05 | 8.42 |              |
+-----------+--------------+------+-----+-----+------+--------------+
|           | 3. Trade     | 4.68 | 4   | 4   | 4.83 |              |
|           | account      |      | .71 | .79 |      |              |
|           | payable      |      |     |     |      |              |
+-----------+--------------+------+-----+-----+------+--------------+
|           | 4. Amount    | 1.11 | 1   | -   | 0.02 |              |
|           | due to       |      | .14 |     |      |              |
|           | related      |      |     |     |      |              |
|           | parties      |      |     |     |      |              |
+-----------+--------------+------+-----+-----+------+--------------+
|           | 5. Trade     | 0.34 | 0   | 0   | 0.20 |              |
|           | account      |      | .34 | .20 |      |              |
|           | receivable   |      |     |     |      |              |
+-----------+--------------+------+-----+-----+------+--------------+
|           | 6. Amount    | -    | -   | 0   | 0.12 |              |
|           | due from     |      |     | .12 |      |              |
|           | related      |      |     |     |      |              |
|           | parties      |      |     |     |      |              |
+-----------+--------------+------+-----+-----+------+--------------+
|           |              |      |     |     |      |              |
+-----------+--------------+------+-----+-----+------+--------------+
|           |              |      |     |     |      |              |
+-----------+--------------+------+-----+-----+------+--------------+
| 6. I.T.   | The Company  |      |     |     |      | ITAS         |
| App       | and its      |      |     |     |      | provides     |
| lications | subsidiaries |      |     |     |      | computer     |
| and       | engage ITAS  |      |     |     |      | program      |
| Services  | for computer |      |     |     |      | improvement  |
| Co.,Ltd.  | programs     |      |     |     |      | and          |
| (ITAS) /  | improvement  |      |     |     |      | development  |
|           | and          |      |     |     |      | for only the |
| SHIN is a | development  |      |     |     |      | Company and  |
| major     | on a         |      |     |     |      | other        |
| shar      | job-by-job   |      |     |     |      | related      |
| eholders, | basis. The   |      |     |     |      | companies.   |
| holds     | Company and  |      |     |     |      |              |
| 99.99%    | its          |      |     |     |      | ITAS charges |
| and Mr.   | subsidiaries |      |     |     |      | the Company  |
| S         | have         |      |     |     |      | at           |
| omprasong | utilized     |      |     |     |      | comparable   |
| B         | computer     |      |     |     |      | rate to      |
| oonyachai | service      |      |     |     |      | other        |
| is a      | providing by |      |     |     |      | consultant   |
| joint     | ITAS since   |      |     |     |      | companies.   |
| director. | May 1, 2004. |      |     |     |      | The service  |
|           |              |      |     |     |      | charge       |
|           |              |      |     |     |      | depends on   |
|           |              |      |     |     |      | the kind of  |
|           |              |      |     |     |      | work and the |
|           |              |      |     |     |      | level of     |
|           |              |      |     |     |      | consultant.  |
+-----------+--------------+------+-----+-----+------+--------------+
|           | 1. Service   | 0.01 | 0   | 0   | 0.05 |              |
|           | Income       |      | .01 | .01 |      |              |
+-----------+--------------+------+-----+-----+------+--------------+
|           | 2.           | 0.08 | 0   | 0   | 0.93 |              |
|           | Consulting   |      | .26 | .68 |      |              |
|           | and          |      |     |     |      |              |
|           | management   |      |     |     |      |              |
|           | fee for      |      |     |     |      |              |
|           | computer     |      |     |     |      |              |
|           | system       |      |     |     |      |              |
+-----------+--------------+------+-----+-----+------+--------------+
|           | 3. Rental    | 4    | 67  | 43  | 6    |              |
|           | and other    | 0.78 | .90 | .36 | 2.44 |              |
|           | service      |      |     |     |      |              |
|           | expenses     |      |     |     |      |              |
+-----------+--------------+------+-----+-----+------+--------------+
|           | 4. Amount    | 0.51 | 4   | 3   | 4.16 |              |
|           | due to       |      | .74 | .59 |      |              |
|           | related      |      |     |     |      |              |
|           | parties      |      |     |     |      |              |
+-----------+--------------+------+-----+-----+------+--------------+
|           | 5. Amount    | -    | -   | 0   | 0.01 |              |
|           | due from     |      |     | .01 |      |              |
|           | related      |      |     |     |      |              |
|           | parties      |      |     |     |      |              |
+-----------+--------------+------+-----+-----+------+--------------+
|           |              |      |     |     |      |              |
+-----------+--------------+------+-----+-----+------+--------------+

+-----------+--------------+-----+------+-----+------+---------------+
| Related   | Detail of    | 31  |      | 31  |      | Rational and  |
| parties   | transactions | De  |      | De  |      | necessity     |
| /Relation |              | cem |      | cem |      |               |
| to the    |              | ber |      | ber |      |               |
| Company   |              | 2   |      | 2   |      |               |
|           |              | 007 |      | 006 |      |               |
|           |              |     |      |     |      |               |
|           |              | (M  |      | (M  |      |               |
|           |              | ill |      | ill |      |               |
|           |              | ion |      | ion |      |               |
|           |              | Ba  |      | Ba  |      |               |
|           |              | ht) |      | ht) |      |               |
+-----------+--------------+-----+------+-----+------+---------------+
|           |              | C   | Cons | C   | Cons |               |
|           |              | omp | olid | omp | olid |               |
|           |              | any | ated | any | ated |               |
+-----------+--------------+-----+------+-----+------+---------------+
| 7. Group  | The Company  |     |      |     |      | The           |
| of        | enters into  |     |      |     |      | International |
| Singtel   | an agreement |     |      |     |      | Roaming with  |
| Strategic | with         |     |      |     |      | Singtel is    |
| In        | companies of |     |      |     |      | under the     |
| vestments | Singtel      |     |      |     |      | ordinary      |
| Pte. Ltd. | group for    |     |      |     |      | course of     |
| (SingTel) | the joint    |     |      |     |      | business      |
| /         | i            |     |      |     |      | since the     |
|           | nternational |     |      |     |      | Company       |
| Singtel   | Roaming      |     |      |     |      | provides      |
| is a      | operation.   |     |      |     |      | international |
| major     | The Company  |     |      |     |      | mobile        |
| sh        | pays the     |     |      |     |      | service to    |
| areholder | salary and   |     |      |     |      | foreign       |
| of the    | remuneration |     |      |     |      | operators.    |
| Company,  | to Singapore |     |      |     |      |               |
| holds     | Telecom      |     |      |     |      | Both parties  |
| 21.37%.   | I            |     |      |     |      | charge each   |
|           | nternational |     |      |     |      | other at the  |
|           | Pte. Ltd     |     |      |     |      | accepted      |
|           | (STI) by     |     |      |     |      | price by      |
|           | c            |     |      |     |      | deduct profit |
|           | onsideration |     |      |     |      | from their    |
|           | STI          |     |      |     |      | customers.    |
|           | operational  |     |      |     |      | STI has an    |
|           | staff. The   |     |      |     |      | agreement     |
|           | expense is   |     |      |     |      | with the      |
|           | charged on   |     |      |     |      | Company that  |
|           | an actual    |     |      |     |      | STI needs to  |
|           | basis. The   |     |      |     |      | provide       |
|           | Company also |     |      |     |      | operational   |
|           | pays         |     |      |     |      | staff to help |
|           | dividend in  |     |      |     |      | the Company   |
|           | proportion   |     |      |     |      | for           |
|           | of           |     |      |     |      | management    |
|           | shareholding |     |      |     |      | and any       |
|           | percentage.  |     |      |     |      | technique.    |
|           |              |     |      |     |      |               |
|           |              |     |      |     |      | The Company   |
|           |              |     |      |     |      | pays the      |
|           |              |     |      |     |      | service fee   |
|           |              |     |      |     |      | to STI by the |
|           |              |     |      |     |      | actual basis  |
|           |              |     |      |     |      | or by         |
|           |              |     |      |     |      | agreement.    |
+-----------+--------------+-----+------+-----+------+---------------+
|           | 1. Service   | 774 | 77   | 693 | 69   |               |
|           | income       | .47 | 4.47 | .54 | 3.54 |               |
+-----------+--------------+-----+------+-----+------+---------------+
|           | 2. Other     | -   | -    | 0   | 0.12 |               |
|           | Income       |     |      | .12 |      |               |
+-----------+--------------+-----+------+-----+------+---------------+
|           | 3.           | 354 | 35   | 331 | 33   |               |
|           | I            | .22 | 4.22 | .59 | 1.59 |               |
|           | nternational |     |      |     |      |               |
|           | Roaming      |     |      |     |      |               |
|           | expense      |     |      |     |      |               |
+-----------+--------------+-----+------+-----+------+---------------+
|           | 4. Salary    | 42  | 4    | 25  | 2    |               |
|           | and other    | .14 | 2.14 | .53 | 5.53 |               |
|           | remuneration |     |      |     |      |               |
+-----------+--------------+-----+------+-----+------+---------------+
|           | 5. Dividend  | 3,  | 3,57 | 3,  | 3,57 |               |
|           | payment      | 578 | 8.40 | 578 | 8.40 |               |
|           |              | .40 |      | .40 |      |               |
+-----------+--------------+-----+------+-----+------+---------------+
|           | 6. Trade     | 71  | 7    | 47  | 4    |               |
|           | account      | .84 | 1.84 | .67 | 7.67 |               |
|           | payable      |     |      |     |      |               |
+-----------+--------------+-----+------+-----+------+---------------+
|           | 7. Amount    | 58  | 5    | 16  | 1    |               |
|           | due to       | .43 | 8.43 | .50 | 6.50 |               |
|           | related      |     |      |     |      |               |
|           | parties      |     |      |     |      |               |
+-----------+--------------+-----+------+-----+------+---------------+
|           | 8. Trade     | 230 | 23   | 133 | 13   |               |
|           | account      | .89 | 0.89 | .60 | 3.60 |               |
|           | receivable   |     |      |     |      |               |
+-----------+--------------+-----+------+-----+------+---------------+
|           |              |     |      |     |      |               |
+-----------+--------------+-----+------+-----+------+---------------+

+-----------+--------------+-----+------+-----+------+---------------+
| Related   | Detail of    | 31  |      | 31  |      | Rational and  |
| parties   | transactions | De  |      | De  |      | necessity     |
| /Relation |              | cem |      | cem |      |               |
| to the    |              | ber |      | ber |      |               |
| Company   |              | 2   |      | 2   |      |               |
|           |              | 007 |      | 006 |      |               |
|           |              |     |      |     |      |               |
|           |              | (M  |      | (M  |      |               |
|           |              | ill |      | ill |      |               |
|           |              | ion |      | ion |      |               |
|           |              | Ba  |      | Ba  |      |               |
|           |              | ht) |      | ht) |      |               |
+-----------+--------------+-----+------+-----+------+---------------+
|           |              | C   | Cons | C   | Cons |               |
|           |              | omp | olid | omp | olid |               |
|           |              | any | ated | any | ated |               |
+-----------+--------------+-----+------+-----+------+---------------+
| 8. C.S.   | CSL serves   |     |      |     |      | CSL provides  |
| Lox info  | the internet |     |      |     |      | internet      |
| Co., Ltd. | service to   |     |      |     |      | service and   |
| (CSL) /   | the Company  |     |      |     |      | charge the    |
|           | and ADC      |     |      |     |      | Company at    |
| SHIN is   | provides     |     |      |     |      | the same rate |
| an        | datanet      |     |      |     |      | as with       |
| indirect  | service CSL. |     |      |     |      | external      |
| major     |              |     |      |     |      | customers.    |
| sha       |              |     |      |     |      |               |
| reholder, |              |     |      |     |      |               |
| holds     |              |     |      |     |      |               |
| 39.89%.   |              |     |      |     |      |               |
+-----------+--------------+-----+------+-----+------+---------------+
|           | 1. Service   | 1   | 15   | 1   | 11   |               |
|           | income       | .05 | 4.41 | .33 | 0.53 |               |
+-----------+--------------+-----+------+-----+------+---------------+
|           | 2. Other     | 0   | 2.42 | 0   | 1.84 |               |
|           | Income       | .01 |      | .09 |      |               |
+-----------+--------------+-----+------+-----+------+---------------+
|           | 3. Rental    | 16  | 1    | 17  | 2    |               |
|           | and other    | .03 | 7.72 | .33 | 3.28 |               |
|           | service      |     |      |     |      |               |
|           | expenses     |     |      |     |      |               |
+-----------+--------------+-----+------+-----+------+---------------+
|           | 4. Trade     | 0   | 0.32 | 0   | 0.48 |               |
|           | account      | .32 |      | .48 |      |               |
|           | payable      |     |      |     |      |               |
+-----------+--------------+-----+------+-----+------+---------------+
|           | 5. Amount    | 0   | 1    | 3   | 1    |               |
|           | due to       | .13 | 4.14 | .94 | 2.93 |               |
|           | related      |     |      |     |      |               |
|           | parties      |     |      |     |      |               |
+-----------+--------------+-----+------+-----+------+---------------+
|           | 6. Trade     | 0   | 1    | 0   | 8.13 |               |
|           | account      | .03 | 5.37 | .01 |      |               |
|           | receivable   |     |      |     |      |               |
+-----------+--------------+-----+------+-----+------+---------------+
|           | 7. Amount    | -   | 0.39 | 0   | 0.93 |               |
|           | due from     |     |      | .09 |      |               |
|           | related      |     |      |     |      |               |
|           | parties      |     |      |     |      |               |
+-----------+--------------+-----+------+-----+------+---------------+
|           |              |     |      |     |      |               |
+-----------+--------------+-----+------+-----+------+---------------+
| 9.        | The Company  |     |      |     |      | Shinee has a  |
| Shi       | engages      |     |      |     |      | s             |
| needotcom | Shinee for   |     |      |     |      | pecialization |
| Co.,Ltd.  | its content  |     |      |     |      | in designing  |
| (Shinee)  | service      |     |      |     |      | and creating  |
| /         | providing    |     |      |     |      | website with  |
|           | for the      |     |      |     |      | variety       |
| SHIN is   | Company’s    |     |      |     |      | contents as   |
| an        | customer.    |     |      |     |      | the Company   |
| indirect  |              |     |      |     |      | needs.        |
| major     |              |     |      |     |      |               |
| sha       |              |     |      |     |      | The Company   |
| reholder, |              |     |      |     |      | pays the      |
| holds     |              |     |      |     |      | service       |
| 70.00 %.  |              |     |      |     |      | charge by the |
|           |              |     |      |     |      | percentage    |
|           |              |     |      |     |      | based on      |
|           |              |     |      |     |      | revenue from  |
|           |              |     |      |     |      | customers     |
|           |              |     |      |     |      | which depends |
|           |              |     |      |     |      | on the kind   |
|           |              |     |      |     |      | of service.   |
|           |              |     |      |     |      | Rate ranges   |
|           |              |     |      |     |      | from 40% to   |
|           |              |     |      |     |      | 60%, which is |
|           |              |     |      |     |      | comparable    |
|           |              |     |      |     |      | with other    |
|           |              |     |      |     |      | content       |
|           |              |     |      |     |      | providers.    |
+-----------+--------------+-----+------+-----+------+---------------+
|           | 1. Service   | 0   | 2.17 | 0   | 3.32 |               |
|           | income       | .29 |      | .45 |      |               |
+-----------+--------------+-----+------+-----+------+---------------+
|           | 2. Other     | 1   | 1.11 | 0   | 0.41 |               |
|           | service fee  | .10 |      | .41 |      |               |
+-----------+--------------+-----+------+-----+------+---------------+
|           | 3. Rental    | 65  | 6    | 85  | 8    |               |
|           | and other    | .59 | 5.59 | .83 | 5.86 |               |
|           | service      |     |      |     |      |               |
|           | expenses     |     |      |     |      |               |
+-----------+--------------+-----+------+-----+------+---------------+
|           | 4. Trade     | 4   | 4.09 | 7   | 7.27 |               |
|           | account      | .08 |      | .25 |      |               |
|           | payable      |     |      |     |      |               |
+-----------+--------------+-----+------+-----+------+---------------+
|           | 5. Amount    | 0   | 0.85 | 0   | 0.63 |               |
|           | due to       | .84 |      | .59 |      |               |
|           | related      |     |      |     |      |               |
|           | parties      |     |      |     |      |               |
+-----------+--------------+-----+------+-----+------+---------------+
|           | 6. Trade     | 0   | 1.07 | 0   | 0.09 |               |
|           | account      | .89 |      | .03 |      |               |
|           | receivable   |     |      |     |      |               |
+-----------+--------------+-----+------+-----+------+---------------+

+------------+---------------+----+-----+-----+------+---------------+
| Related    | Detail of     | 31 |     | 31  |      | Rational and  |
| partie     | transactions  | De |     | De  |      | necessity     |
| s/Relation |               | ce |     | cem |      |               |
| to the     |               | mb |     | ber |      |               |
| Company    |               | er |     | 2   |      |               |
|            |               | 20 |     | 006 |      |               |
|            |               | 07 |     |     |      |               |
|            |               |    |     | (M  |      |               |
|            |               | (M |     | ill |      |               |
|            |               | il |     | ion |      |               |
|            |               | li |     | Ba  |      |               |
|            |               | on |     | ht) |      |               |
|            |               | B  |     |     |      |               |
|            |               | ah |     |     |      |               |
|            |               | t) |     |     |      |               |
+============+===============+====+=====+=====+======+===============+
|            |               | C  | Con | C   | Cons |               |
|            |               | om | sol | omp | olid |               |
|            |               | pa | ida | any | ated |               |
|            |               | ny | ted |     |      |               |
+------------+---------------+----+-----+-----+------+---------------+
| 10.        | The Company   |    |     |     |      | NAT provides  |
| National   | pays          |    |     |     |      | insurance     |
| Insurance  | insurance     |    |     |     |      | service for   |
| Co., Ltd.  | charge for    |    |     |     |      | the Company   |
| (NAT)/     | the base      |    |     |     |      | at the market |
|            | stations and  |    |     |     |      | rate.         |
| Mr.        | equipments.   |    |     |     |      |               |
| Supadej    |               |    |     |     |      |               |
| Poonpipat, |               |    |     |     |      |               |
| MD of      |               |    |     |     |      |               |
| Thanachart |               |    |     |     |      |               |
| Group is   |               |    |     |     |      |               |
| also a     |               |    |     |     |      |               |
| company’s  |               |    |     |     |      |               |
| director.  |               |    |     |     |      |               |
+------------+---------------+----+-----+-----+------+---------------+
|            | 1. Insurance  | 6  | 65  | 69  | 7    |               |
|            | payment       | 2. | .81 | .81 | 6.69 |               |
|            |               | 40 |     |     |      |               |
+------------+---------------+----+-----+-----+------+---------------+
|            |               |    |     |     |      |               |
+------------+---------------+----+-----+-----+------+---------------+
| 11. ITV    | The Company   |    |     |     |      | ITV’s         |
| Public     | advertises    |    |     |     |      | activities    |
| Company    | and purchases |    |     |     |      | cover         |
| Limited    | station       |    |     |     |      | acquisition,  |
| (ITV)/     | airtime from  |    |     |     |      | sale of       |
|            | ITV, as well  |    |     |     |      | advertising   |
| SHIN is a  | as ITV uses   |    |     |     |      | airtime and   |
| major      | the Company   |    |     |     |      | broadcasting  |
| sh         | mobile phone  |    |     |     |      | television    |
| areholder; | services.     |    |     |     |      | signals for   |
| hold       |               |    |     |     |      | nationwide    |
| 52.92%.    |               |    |     |     |      | viewing.      |
|            |               |    |     |     |      |               |
|            |               |    |     |     |      | The Company   |
|            |               |    |     |     |      | is charged at |
|            |               |    |     |     |      | the same rate |
|            |               |    |     |     |      | as with       |
|            |               |    |     |     |      | external      |
|            |               |    |     |     |      | customer.     |
|            |               |    |     |     |      |               |
|            |               |    |     |     |      | *ITV stopped  |
|            |               |    |     |     |      | its operation |
|            |               |    |     |     |      | on March 7,   |
|            |               |    |     |     |      | 2007.         |
+------------+---------------+----+-----+-----+------+---------------+
|            | 1. Service    | 0. | 0   | 1   | 2.08 |               |
|            | income        | 70 | .76 | .89 |      |               |
+------------+---------------+----+-----+-----+------+---------------+
|            | 2. Other      | -  | -   | 1   | 1.56 |               |
|            | Service       |    |     | .56 |      |               |
+------------+---------------+----+-----+-----+------+---------------+
|            | 3. Rental and | 4. | 4   | 26  | 2    |               |
|            | other service | 37 | .37 | .10 | 6.12 |               |
|            | expenses      |    |     |     |      |               |
+------------+---------------+----+-----+-----+------+---------------+
|            | 4. Trade      | -  | -   | -   | 0.02 |               |
|            | account       |    |     |     |      |               |
|            | payable       |    |     |     |      |               |
+------------+---------------+----+-----+-----+------+---------------+
|            | 5. Trade      | -  | -   | 0   | 0.23 |               |
|            | account       |    |     | .20 |      |               |
|            | receivable    |    |     |     |      |               |
+------------+---------------+----+-----+-----+------+---------------+
|            | 6. Amount due | -  | -   | 0   | 0.19 |               |
|            | from related  |    |     | .19 |      |               |
|            | parties       |    |     |     |      |               |
+------------+---------------+----+-----+-----+------+---------------+
|            |               |    |     |     |      |               |
+------------+---------------+----+-----+-----+------+---------------+
| 12.        | The Company   |    |     |     |      | PS provides   |
| Payment    | and its       |    |     |     |      | electronic    |
| Solution., | subsidiaries  |    |     |     |      | cash card, OK |
| Ltd (PS)/  | have          |    |     |     |      | Cash Card,    |
|            | cooperated    |    |     |     |      | which users   |
| SHIN is an | with PS to    |    |     |     |      | can make      |
| indirect   | provide       |    |     |     |      | payment to    |
| major      | mobile phone  |    |     |     |      | buy goods     |
| sh         | and internet  |    |     |     |      | and/or        |
| areholder, | payment       |    |     |     |      | services.     |
| holds      | services via  |    |     |     |      | Charged       |
| 99.99%.    | electronic    |    |     |     |      | prices are    |
|            | cash card of  |    |     |     |      | comparable    |
|            | PS because    |    |     |     |      | with market   |
|            | target        |    |     |     |      | rate.         |
|            | customer are  |    |     |     |      |               |
|            | similar.      |    |     |     |      |               |
+------------+---------------+----+-----+-----+------+---------------+
|            | 1. Service    | 0. | 2   | 1   | 3.59 |               |
|            | income        | 53 | .29 | .88 |      |               |
+------------+---------------+----+-----+-----+------+---------------+
|            | 2. Other      | 0. | 0   | -   | -    |               |
|            | Service       | 04 | .33 |     |      |               |
+------------+---------------+----+-----+-----+------+---------------+
|            | 3. Trade      | -  | -   | -   | 5.02 |               |
|            | account       |    |     |     |      |               |
|            | payable       |    |     |     |      |               |
+------------+---------------+----+-----+-----+------+---------------+
|            | 4. Amount due | 0. | 0   | 0   | 0.01 |               |
|            | to related    | 01 | .01 | .01 |      |               |
|            | parties       |    |     |     |      |               |
+------------+---------------+----+-----+-----+------+---------------+
|            | 5. Trade      | -  | 5   | -   | 1.62 |               |
|            | account       |    | .59 |     |      |               |
|            | receivable    |    |     |     |      |               |
+------------+---------------+----+-----+-----+------+---------------+
|            | 6. Amount due | 0. | 0   | 0   | 0.34 |               |
|            | from related  | 34 | .34 | .34 |      |               |
|            | parties       |    |     |     |      |               |
+------------+---------------+----+-----+-----+------+---------------+
| 13.        | The Company   |    |     |     |      | SHIN          |
| Pr         | operates      |    |     |     |      | previously    |
| ofessional | cellular      |    |     |     |      | 100% owned    |
| Collection | mobile phone  |    |     |     |      | PCOL and sold |
| Co., Ltd.  | network to    |    |     |     |      | its entire    |
| (PCOL)/    | PCOL.         |    |     |     |      | stake to ACAP |
|            |               |    |     |     |      | Advisory Plc  |
|            |               |    |     |     |      | and ORIX      |
|            |               |    |     |     |      | Corporation   |
|            |               |    |     |     |      | on December   |
|            |               |    |     |     |      | 7, 2007.      |
|            |               |    |     |     |      |               |
|            |               |    |     |     |      | The Company   |
|            |               |    |     |     |      | had related   |
|            |               |    |     |     |      | transaction   |
|            |               |    |     |     |      | with PCOL     |
|            |               |    |     |     |      | until the     |
|            |               |    |     |     |      | disposal      |
|            |               |    |     |     |      | date. All     |
|            |               |    |     |     |      | transactions  |
|            |               |    |     |     |      | with PCOL are |
|            |               |    |     |     |      | based on      |
|            |               |    |     |     |      | market rates. |
+------------+---------------+----+-----+-----+------+---------------+
|            | 1. Service    | 9. | 9   | 13  | 1    |               |
|            | income        | 77 | .77 | .97 | 3.97 |               |
+------------+---------------+----+-----+-----+------+---------------+
|            | 2. Trade      | -  | -   | 0   | 0.94 |               |
|            | account       |    |     | .94 |      |               |
|            | receivable    |    |     |     |      |               |
+------------+---------------+----+-----+-----+------+---------------+
|            |               |    |     |     |      |               |
+------------+---------------+----+-----+-----+------+---------------+
|            |               |    |     |     |      |               |
+------------+---------------+----+-----+-----+------+---------------+
| 14. Shin   | The Company   |    |     |     |      | SBI has a     |
| Broadband  | hires SBI to  |    |     |     |      | s             |
| Internet   | create        |    |     |     |      | pecialization |
| (Thailand) | website.      |    |     |     |      | in internet   |
| Co., Ltd.  |               |    |     |     |      | service and   |
| (SBI)/     |               |    |     |     |      | charge the    |
|            |               |    |     |     |      | Company at    |
| SHIN is an |               |    |     |     |      | the same rate |
| indirect   |               |    |     |     |      | as with other |
| major      |               |    |     |     |      | content       |
| sh         |               |    |     |     |      | providers.    |
| areholder, |               |    |     |     |      |               |
| holds      |               |    |     |     |      |               |
| 99.99%.    |               |    |     |     |      |               |
+------------+---------------+----+-----+-----+------+---------------+
|            | 1. Service    | 0. | 0   | 0   | 0.08 |               |
|            | income        | 17 | .17 | .08 |      |               |
+------------+---------------+----+-----+-----+------+---------------+
|            | 2. Rental and | 0. | 0   | 5   | 5.36 |               |
|            | other service | 99 | .99 | .36 |      |               |
|            | expenses      |    |     |     |      |               |
+------------+---------------+----+-----+-----+------+---------------+
|            | 3. Trade      | 2. | 3   | 2   | 2.69 |               |
|            | account       | 59 | .58 | .69 |      |               |
|            | payable       |    |     |     |      |               |
+------------+---------------+----+-----+-----+------+---------------+
|            | 4. Trade      | -  | -   | 0   | 0.02 |               |
|            | account       |    |     | .01 |      |               |
|            | receivable    |    |     |     |      |               |
+------------+---------------+----+-----+-----+------+---------------+
|            |               |    |     |     |      |               |
+------------+---------------+----+-----+-----+------+---------------+
| 15.        | The Company   |    |     |     |      | SHIN          |
| Capital OK | support OK    |    |     |     |      | previously    |
| Co., Ltd.  | for extensive |    |     |     |      | 100% owned OK |
| (OK)       | customer base |    |     |     |      | and sold its  |
|            | and channel   |    |     |     |      | entire stake  |
|            | for payment   |    |     |     |      | to ACAP       |
|            | service and   |    |     |     |      | Advisory Plc  |
|            | financial     |    |     |     |      | and ORIX      |
|            | service.      |    |     |     |      | Corporation   |
|            |               |    |     |     |      | on December   |
|            |               |    |     |     |      | 7, 2007.      |
|            |               |    |     |     |      |               |
|            |               |    |     |     |      | The Company   |
|            |               |    |     |     |      | had related   |
|            |               |    |     |     |      | transaction   |
|            |               |    |     |     |      | with OK until |
|            |               |    |     |     |      | the disposal  |
|            |               |    |     |     |      | date. All     |
|            |               |    |     |     |      | transactions  |
|            |               |    |     |     |      | with OK are   |
|            |               |    |     |     |      | based on      |
|            |               |    |     |     |      | market rates. |
+------------+---------------+----+-----+-----+------+---------------+
|            | 1. Service    | 2. | 3   | 5   | 6.66 |               |
|            | income        | 23 | .48 | .56 |      |               |
+------------+---------------+----+-----+-----+------+---------------+
|            | 2. Other      | 0. | 0   | 0   | 0.34 |               |
|            | Service       | 14 | .14 | .34 |      |               |
+------------+---------------+----+-----+-----+------+---------------+
|            | 3. Rental and | 0. | 0   | -   | -    |               |
|            | other service | 15 | .15 |     |      |               |
|            | expenses      |    |     |     |      |               |
+------------+---------------+----+-----+-----+------+---------------+
|            | 4. Amount due | -  | -   | 2   | 2.79 |               |
|            | to related    |    |     | .75 |      |               |
|            | parties       |    |     |     |      |               |
+------------+---------------+----+-----+-----+------+---------------+
|            | 5. Trade      | -  | -   | 0   | 0.59 |               |
|            | account       |    |     | .49 |      |               |
|            | receivable    |    |     |     |      |               |
+------------+---------------+----+-----+-----+------+---------------+
|            | 6. Amount due | -  | -   | 0   | 0.15 |               |
|            | from related  |    |     | .15 |      |               |
|            | parties       |    |     |     |      |               |
+------------+---------------+----+-----+-----+------+---------------+

+-----------+--------------+-----+------+-----+------+--------------+
| Related   | Detail of    | 31  |      | 31  |      | Rational and |
| parties   | transactions | De  |      | De  |      | necessity    |
| /Relation |              | cem |      | cem |      |              |
| to the    |              | ber |      | ber |      |              |
| Company   |              | 2   |      | 2   |      |              |
|           |              | 007 |      | 006 |      |              |
|           |              |     |      |     |      |              |
|           |              | (M  |      | (M  |      |              |
|           |              | ill |      | ill |      |              |
|           |              | ion |      | ion |      |              |
|           |              | Ba  |      | Ba  |      |              |
|           |              | ht) |      | ht) |      |              |
+===========+==============+=====+======+=====+======+==============+
|           |              | C   | Cons | C   | Cons |              |
|           |              | omp | olid | omp | olid |              |
|           |              | any | ated | any | ated |              |
+-----------+--------------+-----+------+-----+------+--------------+
| 16. Thai  | The Company  |     |      |     |      | SHIN         |
| AirAsia   | purchase     |     |      |     |      | previously   |
| Co., Ltd. | flight       |     |      |     |      | owned 50%    |
| (TAA)     | ticket from  |     |      |     |      | shares in    |
|           | TAA in a     |     |      |     |      | TAA          |
|           | special      |     |      |     |      | (indirect)   |
|           | price        |     |      |     |      | and sold its |
|           |              |     |      |     |      | shares to    |
|           |              |     |      |     |      | TAA’s top    |
|           |              |     |      |     |      | executives   |
|           |              |     |      |     |      | on June 21,  |
|           |              |     |      |     |      | 2007.        |
|           |              |     |      |     |      |              |
|           |              |     |      |     |      | The Company  |
|           |              |     |      |     |      | had related  |
|           |              |     |      |     |      | transaction  |
|           |              |     |      |     |      | with TAA     |
|           |              |     |      |     |      | until the    |
|           |              |     |      |     |      | disposal     |
|           |              |     |      |     |      | date.        |
|           |              |     |      |     |      | Tickets      |
|           |              |     |      |     |      | purchased    |
|           |              |     |      |     |      | from TAA     |
|           |              |     |      |     |      | were at      |
|           |              |     |      |     |      | special      |
|           |              |     |      |     |      | prices,      |
|           |              |     |      |     |      | which were   |
|           |              |     |      |     |      | cheaper than |
|           |              |     |      |     |      | quoted to    |
|           |              |     |      |     |      | their third  |
|           |              |     |      |     |      | parties      |
|           |              |     |      |     |      | customers.   |
+-----------+--------------+-----+------+-----+------+--------------+
|           | 1. Service   | 0   | 0.61 | 0   | 0.87 |              |
|           | income       | .60 |      | .87 |      |              |
+-----------+--------------+-----+------+-----+------+--------------+
|           | 2. Rental    | -   | -    | 1   | 1.24 |              |
|           | and other    |     |      | .20 |      |              |
|           | service      |     |      |     |      |              |
|           | expenses     |     |      |     |      |              |
+-----------+--------------+-----+------+-----+------+--------------+
|           | 3. Amount    | -   | -    | 0   | 0.14 |              |
|           | due to       |     |      | .14 |      |              |
|           | related      |     |      |     |      |              |
|           | parties      |     |      |     |      |              |
+-----------+--------------+-----+------+-----+------+--------------+
|           | 4. Trade     | -   | -    | 0   | 0.10 |              |
|           | account      |     |      | .10 |      |              |
|           | receivable   |     |      |     |      |              |
+-----------+--------------+-----+------+-----+------+--------------+
|           |              |     |      |     |      |              |
+-----------+--------------+-----+------+-----+------+--------------+
| 17. Lao   | The Company  |     |      |     |      | LTC, The     |
| Telecom   | and its      |     |      |     |      | teleco       |
|           | subsidiaries |     |      |     |      | mmunications |
| Co., Ltd. | have         |     |      |     |      | service      |
| (LTC)/    | cooperated   |     |      |     |      | provider in  |
|           | with LTC to  |     |      |     |      | Laos,        |
| SHIN is   | provide      |     |      |     |      | provides     |
| an        | i            |     |      |     |      | fixed line,  |
| indirect  | nternational |     |      |     |      | mobile,      |
| major     | roaming.     |     |      |     |      | internet and |
| sha       |              |     |      |     |      | broadband    |
| reholder, |              |     |      |     |      | and          |
| holds     |              |     |      |     |      | i            |
| 49.00%    |              |     |      |     |      | nternational |
|           |              |     |      |     |      | roaming      |
|           |              |     |      |     |      | services.    |
|           |              |     |      |     |      |              |
|           |              |     |      |     |      | Roaming      |
|           |              |     |      |     |      | price        |
|           |              |     |      |     |      | between the  |
|           |              |     |      |     |      | Company and  |
|           |              |     |      |     |      | LTC is based |
|           |              |     |      |     |      | on market    |
|           |              |     |      |     |      | rate.        |
+-----------+--------------+-----+------+-----+------+--------------+
|           | 1. Service   | 8   | 9.40 | 3   | 3.86 |              |
|           | income       | .34 |      | .86 |      |              |
+-----------+--------------+-----+------+-----+------+--------------+
|           | 2.           | 15  | 1    | 10  | 1    |              |
|           | I            | .00 | 5.43 | .08 | 0.08 |              |
|           | nternational |     |      |     |      |              |
|           | Roaming      |     |      |     |      |              |
|           | expense      |     |      |     |      |              |
+-----------+--------------+-----+------+-----+------+--------------+
|           | 3. Trade     | 1   | 1.83 | 1   | 1.65 |              |
|           | account      | .44 |      | .65 |      |              |
|           | payable      |     |      |     |      |              |
+-----------+--------------+-----+------+-----+------+--------------+
|           | 4. Trade     | 0   | 1.36 | 0   | 0.88 |              |
|           | account      | .97 |      | .88 |      |              |
|           | receivable   |     |      |     |      |              |
+-----------+--------------+-----+------+-----+------+--------------+
|           |              |     |      |     |      |              |
+-----------+--------------+-----+------+-----+------+--------------+
|           |              |     |      |     |      |              |
+-----------+--------------+-----+------+-----+------+--------------+
| 18.       | The Company  |     |      |     |      | CamShin got  |
| Cambodia  | and its      |     |      |     |      | license from |
| S         | subsidiaries |     |      |     |      | The Royal    |
| hinawatra | have         |     |      |     |      | Government   |
| Co., Ltd. | cooperated   |     |      |     |      | of Cambodia, |
| (         | with CamShin |     |      |     |      | provides     |
| CamShin)/ | to provide   |     |      |     |      | fixed line,  |
|           | i            |     |      |     |      | mobile and   |
| SHIN is   | nternational |     |      |     |      | i            |
| an        | roaming.     |     |      |     |      | nternational |
| indirect  |              |     |      |     |      | roaming      |
| major     |              |     |      |     |      | services.    |
| sha       |              |     |      |     |      |              |
| reholder, |              |     |      |     |      | Roaming      |
| holds     |              |     |      |     |      | price        |
| 100.00%   |              |     |      |     |      | between the  |
|           |              |     |      |     |      | Company and  |
|           |              |     |      |     |      | Camshin is   |
|           |              |     |      |     |      | based on     |
|           |              |     |      |     |      | market rate. |
+-----------+--------------+-----+------+-----+------+--------------+
|           | 1. Service   | 0   | 0.20 | 0   | 0.08 |              |
|           | income       | .20 |      | .08 |      |              |
+-----------+--------------+-----+------+-----+------+--------------+
|           | 2.           | 8   | 8.42 | 6   | 6.10 |              |
|           | I            | .42 |      | .10 |      |              |
|           | nternational |     |      |     |      |              |
|           | Roaming      |     |      |     |      |              |
|           | expense      |     |      |     |      |              |
+-----------+--------------+-----+------+-----+------+--------------+
|           | 3. Trade     | 2   | 2.36 | 1   | 1.07 |              |
|           | account      | .36 |      | .07 |      |              |
|           | payable      |     |      |     |      |              |
+-----------+--------------+-----+------+-----+------+--------------+
|           | 4. Trade     | 0   | 0.07 | 0   | 0.01 |              |
|           | account      | .07 |      | .01 |      |              |
|           | receivable   |     |      |     |      |              |
+-----------+--------------+-----+------+-----+------+--------------+
|           |              |     |      |     |      |              |
+-----------+--------------+-----+------+-----+------+--------------+