11. Related Party transactions

  Financial Statement of Group Lease Public Company Limited as of
  December 31, 2005 presents related transaction as following.

+---+---+------+-----------+----+-----+------------------------------+
| R |   | Rela | Tra       | Am |     | Remarks                      |
| e |   | tion | nsactions | ou |     |                              |
| l |   | ship |           | nt |     |                              |
| a |   |      |           | (  |     |                              |
| t |   |      |           | in |     |                              |
| e |   |      |           | m  |     |                              |
| d |   |      |           | il |     |                              |
| C |   |      |           | li |     |                              |
| o |   |      |           | on |     |                              |
| m |   |      |           | B  |     |                              |
| p |   |      |           | ah |     |                              |
| a |   |      |           | t) |     |                              |
| n |   |      |           |    |     |                              |
| y |   |      |           |    |     |                              |
+---+---+------+-----------+----+-----+------------------------------+
|   |   |      |           | I  | Ou  |                              |
|   |   |      |           | nt | tst |                              |
|   |   |      |           | er | and |                              |
|   |   |      |           | im | ing |                              |
+---+---+------+-----------+----+-----+------------------------------+
| B |   | P    | Loan from | 5  | 500 | Audit Committee already      |
| a |   | rinc | Bank-     | 00 | .00 | reviewed and validated this  |
| n |   | iple | Note      | .0 |     | transaction, and gave the    |
| k |   | sha  | Payable   | 0¹ |     | opinion that there were      |
| o |   | reho | on call   |    |     | essence and appropriation    |
| f |   | lder | with      |    |     | for making the loan from     |
| A |   | at   | interest  |    |     | Bank of Ayudhya for business |
| y |   | 8.89 | rate      |    |     | base. The interest rate on   |
| u |   | pe   | equals to |    |     | that loan is MOR per annum   |
| d |   | rcen | MOR per   |    |     | which is the optimum         |
| h |   | tage | annum     |    |     | interest rate.               |
| y |   |      |           |    |     |                              |
| a |   |      |           |    |     |                              |
| P |   |      |           |    |     |                              |
| u |   |      |           |    |     |                              |
| b |   |      |           |    |     |                              |
| l |   |      |           |    |     |                              |
| i |   |      |           |    |     |                              |
| c |   |      |           |    |     |                              |
| C |   |      |           |    |     |                              |
| o |   |      |           |    |     |                              |
| m |   |      |           |    |     |                              |
| p |   |      |           |    |     |                              |
| a |   |      |           |    |     |                              |
| n |   |      |           |    |     |                              |
| y |   |      |           |    |     |                              |
| L |   |      |           |    |     |                              |
| i |   |      |           |    |     |                              |
| m |   |      |           |    |     |                              |
| i |   |      |           |    |     |                              |
| t |   |      |           |    |     |                              |
| e |   |      |           |    |     |                              |
| d |   |      |           |    |     |                              |
+---+---+------+-----------+----+-----+------------------------------+
|   |   |      | Loan from | 4  | 24  |                              |
|   |   |      | Bank-Bank | 6. | .19 |                              |
|   |   |      | Overdraft | 03 |     |                              |
|   |   |      | with      | ²  |     |                              |
|   |   |      | interest  |    |     |                              |
|   |   |      | rate      |    |     |                              |
|   |   |      | equals to |    |     |                              |
|   |   |      | MOR per   |    |     |                              |
|   |   |      | annum     |    |     |                              |
+---+---+------+-----------+----+-----+------------------------------+
|   |   |      | Loan Term | 2  | 2   | Audit Committee reviewed and |
|   |   |      | In        | .0 | .00 | validated the reasonable of  |
|   |   |      | vestment- | 0³ |     | investment which the company |
|   |   |      | Debenture |    |     | will gain the highest profit |
|   |   |      | 10 years  |    |     | .With interest rate between  |
|   |   |      | with      |    |     | 4-4.75 per annum which is    |
|   |   |      | interest  |    |     | higher that other customers, |
|   |   |      | from year |    |     | financial institutions due   |
|   |   |      | 1to5 is   |    |     | to the good relationship     |
|   |   |      | 4% per    |    |     | between the company and the  |
|   |   |      | annum     |    |     | Bank                         |
|   |   |      | from year |    |     |                              |
|   |   |      | 6 to 10   |    |     |                              |
|   |   |      | is 4.75%  |    |     |                              |
|   |   |      | per       |    |     |                              |
|   |   |      | annum.    |    |     |                              |
|   |   |      | Interest  |    |     |                              |
|   |   |      | payments  |    |     |                              |
|   |   |      | are done  |    |     |                              |
|   |   |      | quarterly |    |     |                              |
|   |   |      | and       |    |     |                              |
|   |   |      | redeemed  |    |     |                              |
|   |   |      | at        |    |     |                              |
|   |   |      | November  |    |     |                              |
|   |   |      | 5, 2013.  |    |     |                              |
+---+---+------+-----------+----+-----+------------------------------+
| M |   | Dire | Loan form | 8  | 8   | Audit Committee already      |
| r |   | ctor | director  | .0 | .00 | reviewed and validated this  |
| . |   | and  | in the    | 0⁴ |     | transaction, and gave the    |
| S |   | Sha  | form of   |    |     | opinion that there were      |
| a |   | reho | p         |    |     | essence and appropriation    |
| m |   | lder | romissory |    |     | for making the loan from     |
| a |   | at   | note on   |    |     | director, because of the     |
| r |   | 9.02 | call with |    |     | company during expand credit |
| t |   | pe   | interest  |    |     | limit. The interest rate on  |
| C |   | rcen | rate      |    |     | that loan is MOR per annum   |
| h |   | tage | equals to |    |     | which is the optimum         |
| a |   |      | MOR per   |    |     | interest rate.               |
| i |   |      | annum     |    |     |                              |
| r |   |      |           |    |     |                              |
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| g |   |      |           |    |     |                              |
+---+---+------+-----------+----+-----+------------------------------+
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+---+---+------+-----------+----+-----+------------------------------+

2.11.1 The essence and appropriation of related transactions

  The essence and appropriation of related transaction are approved for
  gaining the highest benefit to the company. All related transactions
  have to be reviewed for compliance with the company operation and its
  characteristic by Audit Committee. Furthermore the fee/return for
  related transactions is paid at the fair price.

2.11.2 Procedures for approval of related transactions

  In creating related transaction depend on the essence and
  appropriation which have to be presented to Board of Director together
  with Audit committee for making the judgement. All related
  transactions have to comply with Public Company Limited Act. Which the
  directors who involve directly and indirectly in
  advantage/disadvantage of related transaction, cannot give their vote
  to that transactions.

3.  Policy and Potential of related transactions

  Board of Directors have to realize in the effect of related
  transactions which may cause advantage and disadvantage between the
  company and its related company or persons. Then Board of Directors
  try to avoid related transactions except it causes the highest profit
  or being essence

  For potential of related transaction occurrences, the company sets up
  the appropriated price and conditions that may cause related
  transaction according to the normal course of business based. Board of
  Directors have to follow to that discipline and do not approve any
  related transaction which causes their benefit but contradict to the
  company’s benefit. And that related transactions have to present to
  Board of director to consider the compliance with Public Company
  Limited Act or any related derived from Security Organization which
  include presentation and disclosure of purchasing and selling assets
  between related the company or persons.

  If there is any related transaction which causes to the company future
  benefits, Audit Committee will give the opinion about its price, its
  return, the essence and appropriation of that related transactions.
  However if Audit Committee is not specialist in that area, the
  Specialist or External Auditor will be introduced for giving the
  opinion for Board of Directors or Shareholders in making the decision.
  Furthermore the company have to disclose its related transactions in
  Note to the Financial Statement which have been examined by External
  Auditor.