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  5. ASSETS IN BUSINESS

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5.1 Assets 

 5.1.1 Computers, office furniture and fixtures, and vehicles 

  As of December 31, 2012 are as per follows:

+-----------------------------------+-------------+-------------------+
| List                              | Rights of   | Book Value        |
|                                   | Asset       |                   |
|                                   |             | (Baht, ’000s)     |
+-----------------------------------+-------------+-------------------+
| ACAP                              |             |                   |
+-----------------------------------+-------------+-------------------+
| Adjustment to leasehold right     | Owed        |   971             |
|                                   |             |                   |
| Computers and equipment           | Owned       |   2,557           |
+-----------------------------------+-------------+-------------------+
| Furniture and fixtures            | Owned       | 6,918             |
+-----------------------------------+-------------+-------------------+
| Office equipment                  | Owned       | 266               |
+-----------------------------------+-------------+-------------------+
| Vehicles                          | Owned       | 21,005            |
+-----------------------------------+-------------+-------------------+
| Intangible assets                 | Owned       | 2,859             |
+-----------------------------------+-------------+-------------------+
| Total                             |             | 34,576            |
+-----------------------------------+-------------+-------------------+
| ACS                               |             |                   |
+-----------------------------------+-------------+-------------------+
| Computers and equipment           | Owned       | 15                |
+-----------------------------------+-------------+-------------------+
| Furniture and fixtures            | Owned       | 6                 |
+-----------------------------------+-------------+-------------------+
| Office equipment                  | Owned       | 69                |
+-----------------------------------+-------------+-------------------+
| Vehicles                          | Owned       | 1,683             |
+-----------------------------------+-------------+-------------------+
| Intangible assets                 | Owned       | 0                 |
+-----------------------------------+-------------+-------------------+
| Total                             |             | 1,773             |
+-----------------------------------+-------------+-------------------+
| Global Service Center             |             |                   |
+-----------------------------------+-------------+-------------------+
| Computers and equipment           | Owned       | 1,612             |
+-----------------------------------+-------------+-------------------+
| Furniture and fixtures            | Owned       | 1,876             |
+-----------------------------------+-------------+-------------------+
| Office equipment                  | Owned       | 1,321             |
+-----------------------------------+-------------+-------------------+
| Vehicles                          | Owned       | 1,498             |
+-----------------------------------+-------------+-------------------+
| Intangible assets                 | Owned       | 1,869             |
+-----------------------------------+-------------+-------------------+
| Total                             |             | 8,176             |
+-----------------------------------+-------------+-------------------+

  5.1.2 Rental area Contracts

  As of December 31, 2012

+--------+----------+-------+-------------+-------------+------------+
| Com    | Place    | R     | Rental fee  | Contract    | Conditions |
| panies |          | ental |             | term (yrs.) |            |
|        |          | Area  | (Baht       |             |            |
|        |          | (s    | /month)     |             |            |
|        |          | q.m.) |             |             |            |
+========+==========+=======+=============+=============+============+
| ACAP   | Empire   | 1,683 | 1^(st) year | 3 years     | Rental and |
|        | Tower 2  |       | = 488,055   | from        | service    |
|        | and 3,   |       |             | 16^(th)     | fee will   |
|        | 22^(nd)  |       | 2^(nd) year | June 2010   | be paid in |
|        | Floor    |       | = 504,885   | to 15^(th)  | advance    |
|        |          |       |             | June 2013   | within the |
|        |          |       | 3^(rd) year |             | 5^(th) of  |
|        |          |       | = 521,714   |             | every      |
|        |          |       |             |             | month      |
+--------+----------+-------+-------------+-------------+------------+
|        | Service  |       | 1^(st) year |             |            |
|        | fee      |       | = 488,055   |             |            |
|        |          |       |             |             |            |
|        |          |       | 2^(nd) year |             |            |
|        |          |       | = 504,885   |             |            |
|        |          |       |             |             |            |
|        |          |       | 3^(rd) year |             |            |
|        |          |       | = 521,714   |             |            |
+--------+----------+-------+-------------+-------------+------------+
| ACS    | Empire   | 33    |             | 1 year from | ACS pays   |
|        | Tower 3, |       |             | January to  | to the     |
|        | 22^(nd)  |       |             | December    | ACAP as    |
|        | Floor    |       |             |             | the        |
|        |          |       |             |             | con        |
|        |          |       |             |             | sideration |
|        |          |       |             |             | for office |
|        |          |       |             |             | space and  |
|        |          |       |             |             | office     |
|        |          |       |             |             | supplies.  |
|        |          |       |             |             |            |
|        |          |       |             |             | The        |
|        |          |       |             |             | payment    |
|        |          |       |             |             | will be    |
|        |          |       |             |             | made on    |
|        |          |       |             |             | every      |
|        |          |       |             |             | month      |
+--------+----------+-------+-------------+-------------+------------+
|        | Service  |       | 20,472      |             |            |
|        | fee      |       |             |             |            |
+--------+----------+-------+-------------+-------------+------------+
| ACON   | Empire   | 87    |             | 1 year from | ACON pays  |
|        | Tower 3, |       |             | January to  | to the     |
|        | 22^(nd)  |       |             | December    | ACAP as    |
|        | Floor    |       |             |             | the        |
|        |          |       |             |             | con        |
|        |          |       |             |             | sideration |
|        |          |       |             |             | for office |
|        |          |       |             |             | space and  |
|        |          |       |             |             | office     |
|        |          |       |             |             | supplies.  |
|        |          |       |             |             |            |
|        |          |       |             |             | The        |
|        |          |       |             |             | payment    |
|        |          |       |             |             | will be    |
|        |          |       |             |             | made on    |
|        |          |       |             |             | every      |
|        |          |       |             |             | month      |
+--------+----------+-------+-------------+-------------+------------+
|        | Service  |       | 52,892      |             |            |
|        | fee      |       |             |             |            |
+--------+----------+-------+-------------+-------------+------------+
|        | S        | 10    | 1,500       | 1 year from | The rental |
|        | hinnawat |       |             | 24^(th)     | contract   |
|        | Tower    |       |             | October     | can be     |
|        | 3        |       |             | 2012 to     | renewed    |
|        | ,10^(th) |       |             | 31^(st) May | for 1      |
|        | Floor    |       |             | 2013        | years per  |
|        |          |       |             |             | contract   |
+--------+----------+-------+-------------+-------------+------------+
|        | Service  |       | 3,750       |             |            |
|        | fee      |       |             |             |            |
+--------+----------+-------+-------------+-------------+------------+
|        | Phi      | 9     | 2,000       | 1 year from | To make 1  |
|        | tsanulok |       |             | 1^(st)      | month in   |
|        | Branch   |       |             | September   | advance    |
|        |          |       |             | 2012 to     | notice to  |
|        |          |       |             | 31^(st)     | renew the  |
|        |          |       |             | August 2013 | rental     |
|        |          |       |             |             | contract   |
+--------+----------+-------+-------------+-------------+------------+
| ACAP   | Empire   | 33    |             | 1 year from | ACAP AMC   |
| AMC    | Tower 3, |       |             | January to  | pays to    |
|        | 22nd     |       |             | December    | the ACAP   |
|        | Floor    |       |             |             | as the     |
|        |          |       |             |             | con        |
|        |          |       |             |             | sideration |
|        |          |       |             |             | for office |
|        |          |       |             |             | space and  |
|        |          |       |             |             | office     |
|        |          |       |             |             | supplies.  |
|        |          |       |             |             |            |
|        |          |       |             |             | The        |
|        |          |       |             |             | payment    |
|        |          |       |             |             | will be    |
|        |          |       |             |             | made on    |
|        |          |       |             |             | every      |
|        |          |       |             |             | month      |
+--------+----------+-------+-------------+-------------+------------+
|        | Service  |       | 20,471      |             |            |
|        | fee      |       |             |             |            |
+--------+----------+-------+-------------+-------------+------------+
| GSC    | S        | 233   | 34,950      | 1 year from | To make 90 |
|        | hinnawat |       |             |             | days in    |
|        | Tower    |       |             | 1^(st) June | advance    |
|        | 3        |       |             | 2012 to     | notice to  |
|        | ,10^(th) |       |             | 31^(st) May | renew the  |
|        | Floor    |       |             | 2013        | rental     |
|        |          |       |             |             | contract   |
+--------+----------+-------+-------------+-------------+------------+
|        | Service  |       | 119,995     |             |            |
|        | fee      |       |             |             |            |
+--------+----------+-------+-------------+-------------+------------+
|        | S        | 186   | 27,966      | 8 months    | The rental |
|        | hinnawat |       |             | from        | contract   |
|        | Tower    |       |             |             | can be     |
|        | 3        |       |             | 1^(st)      | renewed    |
|        | ,10^(th) |       |             | October     | for 1      |
|        | Floor    |       |             | 2012 –      | years per  |
|        |          |       |             | 31^(st) May | contract   |
|        |          |       |             | 2013        |            |
+--------+----------+-------+-------------+-------------+------------+
|        | Service  |       | 69,915      |             |            |
|        | fee      |       |             |             |            |
+--------+----------+-------+-------------+-------------+------------+
|        | Rental   | -     | 25,000      | 3 years     | To make 90 |
|        | space    |       |             | from        | days in    |
|        | for 1    |       |             |             | advance    |
|        | branch   |       |             | 1^(st) June | notice to  |
|        | u        |       |             | 2012 to     | renew the  |
|        | pcountry |       |             |             | rental     |
|        |          |       |             | 31^(st) May | contract   |
|        |          |       |             | 2015        |            |
+--------+----------+-------+-------------+-------------+------------+
| ACAP   | No.24(   | 3,230 | 271,804     | 1 Year      | To make 90 |
| (Mal   | AB),24th | s     |             | (1^(st)     | days in    |
| aysia) | Floor    | q.ft. |             | November    | advance    |
|        | UBN      |       |             | 2012 –      | notice to  |
|        | Tower,   |       |             | 31^(st)     | renew the  |
|        | 10 Jalan |       |             | October     | rental     |
|        | P        |       |             | 2013)       | contract   |
|        | .Ramlee, |       |             |             |            |
|        | 50250    |       |             |             |            |
|        | Kuala    |       |             |             |            |
|        | Lumpur   |       |             |             |            |
+--------+----------+-------+-------------+-------------+------------+
| CAP OK | S        | 1,123 | 169,918     | 1 year from | To make 90 |
|        | hinnawat |       |             | 1^(st) June | days in    |
|        | Tower 3, |       |             | 2012 to     | advance    |
|        | 4^(th    |       |             | 31^(st) May | notice to  |
|        | )-5^(TH) |       |             | 2013        | renew the  |
|        | Floor    |       |             |             | rental     |
|        |          |       |             |             | contract   |
+--------+----------+-------+-------------+-------------+------------+
|        | Service  |       | 385,873     |             |            |
|        | fee      |       |             |             |            |
+--------+----------+-------+-------------+-------------+------------+
| Profes | S        | 60    | 9,000       | 1 year from | The rental |
| sional | hinnawat |       |             | 1^(st) June | contract   |
| Coll   | Tower 3, |       |             | 2012 to     | can be     |
| ection | 5^(th)   |       |             | 31^(st) May | renewed    |
|        | Floor,   |       |             | 2013        | for 1      |
|        |          |       |             |             | years per  |
|        |          |       |             |             | contract   |
+--------+----------+-------+-------------+-------------+------------+
|        | Service  |       | 22,500      |             |            |
|        | fee      |       |             |             |            |
+--------+----------+-------+-------------+-------------+------------+
| AURUM  | # 09-06, | 116   | 249,294     | 2 years     | To make 90 |
|        | Capital  |       |             | from 1^(st) | days in    |
|        | Tower,   |       |             | May 2011 to | advance    |
|        | 9^(th)   |       |             | 30^(th)     | notice to  |
|        | Floor,   |       |             | April 2013  | renew the  |
|        | 168      |       |             |             | rental     |
|        | Robinson |       |             |             | contract   |
|        | Rd.,     |       |             |             |            |
|        | S        |       |             |             |            |
|        | ingapore |       |             |             |            |
+--------+----------+-------+-------------+-------------+------------+

5.2 Investment Policy in Subsidiaries and Related Parties

At present, the Company has total of 9 subsidiaries of which 7
subsidiaries are the Company’s direct investment and another two are
companies which is invested by the Company’s subsidiary. The
shareholding proportion for each investment are as follows:

6 Subsidiaries with 99.99% shareholding, which are:

-   Capital OK Company Limited (“CAP OK”)

-   ACAP Corporate Services Co., Ltd. (“ACS”)

-   Global Service Center Co., Ltd. (“GSC”) (previous name ACAP Services
    Co., Ltd.)

-   ACAP Asset Management Co., Ltd. (“ACAP AMC”)

-   ACAP Consulting Co., Ltd. (“ACON”)

-   ACAP Malaysia Sdn., Bhd. (“ACAP Malaysia”)

1 Subsidiary with 63.97% shareholding, which is:

-   Aurum Capital Advisory Pte., Ltd. (“AURUM”)

  2 Subsidiaries owned by the Company’s subsidiary.

-   Professional Collection Co., Ltd. (“P COL”)

CAP OK holds 99.9% of the shares.

-   ACAP (Asia) Asset Management Company Limited.

  Cap OK holds 57.60% of the shares.

  ACAP Malaysia Sdn., Bhd. holds 40.00% of the shares.

  ACAP holds 2.39% of the shares.

The holding of shares in subsidiaries is for the purpose of busniess
continuation and support the Company's business operation by which most
of the subsidiaries have the same Board of Directors, However, the Board
of Directors of overseas subsidiaries shall comprise a minimum of 2-3
members of the Company’s Board of Directors. The details of each
subsidiaries' business are stated in the Business Operations Section.

The Company has no policy to invest in the clients’ businesses that
acquire the Company’s service in debt restructuring or seek alliance or
fund raising. Furthermore, the engagement of the Company management in
the financial business for many years resulted in the good relationship
between the Company and many financial institutions both local and
international, which are considered source of funding and important
business alliances. Moreover, the Company has no policy to act as
financial advisor for the clients that entered into debt restructuring
program, and plan to list in the stock market in order to avoid
potential conflict of interest.