Attachment 3

Audit Committee Report

AUDIT COMMITTEE REPORT

To All shareholders

The Board of Directors of KGI Securities (Thailand) Public Company
Limited has appointed the Audit Committee which consists of three
Independent Directors: Mr. Pisit Leeahtam (as Chairman), Mr. Don
Bhasavanich, and Mr. Pradit Sawattananond, and has appointed Ms. Apaporn
Vorapun as secretary of the Audit Committee.

In year 2005, the Audit Committee held five meetings to perform its
duties as assigned by the Company’s Board of Directors and to submit
relevant reports. The Audit Committee, together with the Company’s
management, the auditor, and the Internal Audit Department, had set up
various meetings to discuss and exchange ideas about methods of
auditing, internal control systems, yearly audit plan, and the
evaluation of auditing results. Furthermore, they have continued to
follow up major audit concerns, review financial statements and
financial reports, and reviewed the Company’s business practice as
related to relevant regulations and laws. This was done in order to
provide a correct and transparent view of the Company for shareholders
and all related parties. The Audit Committee had suggested guidelines
and advised the Company’s Internal Audit and Compliance Department in
order to ensure that the Company had good auditing and internal control
systems by setting up operating procedures in accordance with the
Securities Exchange Commission’s and the Stock Exchange of Thailand’s
rules and regulations and accepted standards

The Audit Committee had reviewed the Company’s quarterly, half year, and
yearly financial statements for the year 2005 and commented that the
Company’s financial statements were accurate and that the disclosure in
the financial statements was adequate and complete according to general
accounting standards. The Audit Committee had proposed that the Company
appoint Mr. Ruth Chaowanagawi, Certified Public Accountant No. 3247
and/or Mr. Narong Puntawong, Certified Public Accountant No. 3315 and/or
Ms.Ratana Jala, a Certified Public Accountant No. 3734 of Ernst and
Young Limited as auditors of the Company for the accounting period 2005.
The Board of Directors’ meeting No. 1/2005 held on 24 February 2005 and
the Annual General Meeting of Shareholders No. 1/2005 held on Thursday
21 April 2005 had approved the aforesaid appointment.

  Respectfully,

  []

  Mr. Pisit Leeahtam

  Chairman of Audit Committee

Attachment 4

Branch Office

+--------------------------+---------------------+---------------------+
| Bangkok Metropolitan     | Provincial Area     | Samut Sakhon Branch |
| Area                     |                     |                     |
|                          | Chiang Mai Branch   | 923/55 A.T. Tower   |
| Pin Klao Branch          |                     | Building, Ekachai   |
|                          | 12 Huaykaew         | Road, Tambol Maha   |
| 7/129 Central Pinklao    | Departmentstore     | Chai,               |
| Building, 7^(th) Floor,  | Building no.12,     |                     |
|                          | 1^(st) Floor, Room  | Amphur Muang, Samut |
| Room no. 704,            | no. 101, 102, 103,  | Sakhon 74000        |
| Boromrajchonnanee Road,  | Huaykaew Road,      |                     |
| Arunammarin              | Tambol Changpurk,   | Tel: (034) 426940-7 |
| Sub-District, Bangkok    | Amphur Muang,       |                     |
| Noi District, Bangkok    | Chiang Mai 50300    | Fax: (034) 426940-5 |
| 10700                    |                     |                     |
|                          | Tel: (053) 226100   |                     |
| Tel: 66 (0) 2884-9090-8  |                     |                     |
|                          | Fax: (053) 226701   |                     |
| Fax: 66(0) 2884-9099     |                     |                     |
+--------------------------+---------------------+---------------------+
| Surawongse Branch        | Chiang Rai Branch   | Suphan Buri Branch  |
|                          |                     |                     |
| 33/25-28 Wall Street     | 490/1 Uttrarakit    | 28/6-7 Muanhan      |
| Tower Building,          | Road, Tambol Weang, | Road,               |
|                          | Amphur Muang,       |                     |
| 2^(nd) Floor, Surawongse | Chiang Rai 57000    | Tambol Thapeeleang, |
| Road, Suriyawong         |                     | Amphur Muang,       |
| Sub-District, Bangrak    | Tel: (053) 740701-7 | Suphan Buri 72000   |
| District, Bangkok 10500  |                     |                     |
|                          | Fax: (053) 600973   | Tel: (035) 522530-3 |
| Tel: 66 (0) 2632-9988    |                     |                     |
|                          | Fax: (053) 740704   | Fax: (035) 522530-3 |
| Fax: 66(0) 2632-9990     |                     |                     |
+--------------------------+---------------------+---------------------+
| Yaowaraj Branch          | Nakhon Sawan Branch | Nakhon Pathom       |
|                          |                     | Branch              |
| 215 The Grand China      | 15/28-29 Sawanvithi |                     |
| Trade Tower and Hotel,   | Road, Tambol Pak    | 28/32 Yingpao Road, |
| 6^(th) Floor, Yaowaraj   | Nam Pho, Amphur     | Tambol Sanamjan,    |
| Road, Sumphantawong      | Muang, Nakhon Sawan | Amphur Muang,       |
| Sub-District,            | 60000               | Nakhon Pathom 73000 |
| Sumphantawong District,  |                     |                     |
| Bangkok 10100            | Tel: (056) 314211-9 | Tel: (034) 272300-9 |
|                          |                     |                     |
| Tel: 66 (0) 2226-5070-84 | Fax: (056) 314211-9 | Fax: (034) 217181   |
|                          |                     |                     |
| Fax: 66(0) 2622-8825     |                     |                     |
+--------------------------+---------------------+---------------------+
| Silom Branch             | Nakhon Ratchasima   | Phetchaburi Branch  |
|                          | Branch              |                     |
| 191 Silomcomplex         |                     | 60/4 , Moo 8,       |
| Building, 19^(th) Floor, | 1242/2 The Mall     | Kirirattaya Road,   |
|  Room C, Silom Road, Sil | Shopping Center,    | Tambol Thongchai,   |
| om Sub-District, Bangrak | Nakorn-Ratchasima   | Amphur Muang,       |
|  District, Bangkok 10500 | branch,3^(rd)       | Petchaburi 76000    |
|                          | Floor, Mittapap     |                     |
| Tel: 66 (0) 2231-3040    | Road, Tambol        | Tel: (032)          |
|                          | Naimuang, Amphur    | 418371-5, (032)     |
| Fax: 66(0) 2231-3055     | Muang, Nakhon       | 401761-5            |
|                          | Ratchasima 30000    |                     |
| Fax: 66(0) 2632-1080     |                     | Fax: ( 032) 418375  |
|                          | Tel: (044) 251041-9 |                     |
|                          |                     |                     |
|                          | Fax: (044) 251041-9 |                     |
+--------------------------+---------------------+---------------------+
| Ratchadapisek Branch     | Pak Chong Branch    | Ayutthaya Branch    |
|                          |                     |                     |
| 238/1 Thaihua Building,  | 695,697 Mittapap    | 125. Moo 7,         |
| 1^(st), 2^(nd) Floor,    | Road, Tambol        |      Paholyothin    |
| Ratchadapisek Road,      | Pakchong, Amphur    |      Road, Tambol   |
| Huaykwang Sub-District,  | Pakching, Nakhon    |      Chiengrak-noi, |
| Huaykwang District,      | Ratchasima 30000    |                     |
| Bangkok 10320            |                     | Amphur Bang Pa-In,  |
|                          | Tel: (044) 316-777  | Ayutthaya 13180     |
| Tel: 66 (0) 2692-8999    |                     |                     |
|                          | Fax: ( 044) 316778  | Tel: (035) 237-111  |
| Fax: 66(0) 2692-8430     |                     |                     |
|                          |                     | Fax: ( 035) 237119  |
+--------------------------+---------------------+---------------------+
| Changwattana Branch      | Udon Thani Branch   | Hat Yai Branch      |
|                          |                     |                     |
| 99/349 Na-nakorn         | 26-27 Narae         | 29 Lee Garden       |
| building, 1^(st) Floor,  | suan Road, Tambol M | Plaza, 6^(th)       |
| Moo.2, Changwattana      | akkeng, Amphur Muan | Floor, Room no.     |
| Road, Toongsonghong      | g, Udon Thani 41000 | 602, Prachathipat   |
| Sub-District, Laksee     |                     | Road,               |
| District, Bangkok 10210  | Tel: (042) 244      |                     |
|                          | 008, (042) 243536,  | Tambol Had Yai,     |
| Tel: 66 (0) 2576-1889    |                     | Amphur Hat Yai,     |
|                          | (042) 247925        | Songkhla 90110      |
| Fax: 66(0) 2576-1562     |                     |                     |
|                          | Fax: (042) 243960   | Tel: (074)          |
|                          |                     | 352520-39           |
|                          |                     |                     |
|                          |                     | Fax: (074) 237164   |
+--------------------------+---------------------+---------------------+
| Rama II Branch           |                     |                     |
|                          |                     |                     |
| 128 Central Rama II      |                     |                     |
| Building, 2^(nd) Floor,  |                     |                     |
| Room No. 259, Moo 6,     |                     |                     |
| Rama II Road,            |                     |                     |
|                          |                     |                     |
| Samae Dum Sub-District,  |                     |                     |
|                          |                     |                     |
| Bangkhuntian District,   |                     |                     |
| Bangkok 10150            |                     |                     |
|                          |                     |                     |
| Tel: 66 (0) 2872-4140    |                     |                     |
|                          |                     |                     |
| Fax: 66(0) 2872-4066     |                     |                     |
+--------------------------+---------------------+---------------------+