Carried forward 98,200,000 98,200,000 98,200,000 98,200,000 Reserve for business expansion Brought forward 1,969,000,000 1,969,000,000 1,969,000,000 1,969,000,000 Carried forward 1,969,000,000 1,969,000,000 1,969,000,000 1,969,000,000 Unappropriated Brought forward (deficit) before adjustment (3,069,490,398) (3,222,202,601) (3,031,270,271) (3,210,798,168) Adjustment for environmental restoration expense 3,20 (71,647,141) (63,957,042) (71,647,141) (63,957,042) Brought forward (deficit) after adjustment (3,141,137,539) (3,286,159,643) (3,102,917,412) (3,274,755,210) Increase (decrease) in the period 47,653,006 (63,643,939) 75,670,844 (22,321,692) Carried forward (deficit) (3,093,484,533) (3,349,803,582) (3,027,246,568) (3,297,076,902) UNREALISED LOSS ON NON-CURRENT MARKETABLE SECURITIES Brought forward - (85,501,228) - (85,501,228) Increase (decrease) in the period - 15,088,452 - 15,088,452 Carried forward - (70,412,776) - (70,412,776) TOTAL COMPANY SHAREHOLDERS' EQUITY 2,362,687,232 1,022,105,312 2,428,925,197 1,074,831,992 MINORITY INTEREST Brought forward 2,151,416 2,284,495 - - Increase (decrease) in the period 1,265,336 (296,840) - - Carried forward 3,416,752 1,987,655 - TOTAL SHAREHOLDERS' EQUITY 2,366,103,984 1,024,092,967 2,428,925,197 1,074,831,992 See notes to the interim financial statements PADAENG INDUSTRY PUBLIC COMPANY LIMITED AND SUBSIDIARIES STATEMENTS OF CASH FLOWS FOR THE NINE-MONTH PERIODS ENDED SEPTEMBER 30, "UNAUDITED" CONSOLIDATED THE COMPANY ONLY 2000 1999 2000 1999 Baht Baht Baht Baht Restated Restated CASH FLOWS FROM OPERATING ACTIVITIES Net income (loss) 47,653,006 (63,643,939) 75,670,844 (22,321,692) Items to reconcile net income (loss) to net cash: Equity in undistributed net (income) loss of subsidiary companies - - 2,297,714 (8,472,913) Allowance for obsolete inventories (reversal) (321,383) (472,421) (321,383) (472,421) Inventories written off 2,245,741 559,753 - 559,753 Depreciation 278,179,741 271,706,007 277,839,777 271,282,876 Deferred charges written off 12,705,188 11,127,011 12,705,188 11,127,011 Amount to be adjusted for provision for guarantee of a subsidiary previously estimated - (1,151,000) - (22,315,677) Property, plant and equipment written off 21,555 17,517,555 21,555 17,517,555 Other assets written off - 713,566 - - Withholding tax written off 161,823 - - - Deferred financial advisory fee written off 9,345,826 - 9,345,826 - Deferred interest on hire purchase written off - 632,065 - 632,065 Premium on forward contract amortization - 7,513,844 - 7,513,844 Allowance for doubtful debts-trade accounts and notes receivable (reversal) (12,705,784) (17,280,041) (12,240,511) (16,752,371) Allowance for short-term loans and advances to related companies (reversal) - (200,000) 1,230,000 - Accrued fee receivable written off - 4,982,076 - 4,982,076 Loss (gain) on disposal of property, plant and equipment (421,789) 25,218 (333,078) 226,929 Loss (gain) on exchange rate 114,597,888 212,737,309 97,180,889 197,689,996 Minority interest in net income (loss) 1,265,336 (296,840) - Income from operations before changes in operating assets and liabilities 452,727,148 444,470,163 463,396,821 441,197,031 Operating assets (increase) decrease Deposit at bank used as collateral 11,354,589 - - - Trade accounts and notes receivable (19,711,213) (40,044,872) (18,888,231) (69,196,562) Advances to related companies (1,338,013) (407,200) (1,327,089) (982,650) Inventories (372,439,413) 51,629,096 (373,015,385) 24,880,865 Withholding tax (58,745) (118,775) (17,997) (42,590) Accounts receivable Revenue Department 3,149,832 5,005,861 3,404,166 4,833,768 Other receivables (461,546) 11,316,234 (536,804) 10,710,395 Other current assets (3,294,343) (9,016,278) (1,927,539) (9,241,496) PADAENG INDUSTRY PUBLIC COMPANY LIMITED AND SUBSIDIARIES STATEMENTS OF CASH FLOWS (CONTINUED) FOR THE NINE-MONTH PERIODS ENDED SEPTEMBER 30, "UNAUDITED" CONSOLIDATED THE COMPANY ONLY 2000 1999 2000 1999 Baht Baht Baht Baht Restated Restated Operating liabilities increase (decrease) Trade accounts and notes payable 224,958,728 76,583,456 224,802,460 77,673,448 Accrued interest expenses 6,476,232 1,350,016 (2,145,291) (5,858,761) Accrued electricity expenses (7,794,275) (6,921,504) (7,794,275) (6,967,092) Forward contract payable - (67,326,657) - (67,326,657) Provision for guarantee of a subsidiary - (26,742,000) (58,750,000) (70,323,000) Provision for environmental restoration (5,771,042) 5,767,574 (5,771,042) 5,767,574 Other current liabilities (25,852,043) (32,200,937) (23,625,027) (20,956,822) Other liabilities 709,226 - 709,226 - Net cash provide by operating activities 262,655,122 413,344,177 198,513,993 314,167,451 CASH FLOWS FROM INVESTING ACTIVITIES Investment in related companies decrease - 2,509,668 - 2,509,668 Loans to related companies decrease - - 6,770,000 - Cash paid for purchase of property, plant and equipment (123,848,772) (45,637,246) (124,374,430) (45,774,675) Cash received from sales on property, plant and equipment 1,379,134 592,775 1,295,297 373,307 Other assets (increase) (6,803,858) (51,589,382) (7,145,382) (50,356,815) Net cash used in investing activities (129,273,496) (94,124,185) (123,454,515) (93,248,515) CASH FLOWS FROM FINANCING ACTIVITIES Bank overdrafts and loans from financial institutions increase 103,796,733 228,437,916 103,949,890 250,690,279 Short-term loans from related companies increase (decrease) - 12,032,009 (1,879,959) 7,900,000 Short-term loans and advance from directors and employees (decrease) - (10,000,000) - - Cash received from share capital increase 1,013,850,095 - 1,013,850,095 - Long-term loans (decrease) (1,442,320,008) (345,669,046) (1,383,570,008) (275,785,324) Net cash used in financing activities (324,673,180) (115,199,121) (267,649,982) (17,195,045) Effects from exchange rate in cash and cash equivalents increase 267,885 2,716,787 241,292 2,693,482 Net increase (decrease) in cash and cash equivalents (191,023,669) 206,737,658 (192,349,212) 206,417,373 Cash and cash equivalents as at January 1 398,269,162 165,371,662 335,184,787 103,895,419 Cash and cash equivalents as at September 30, 207,245,493 372,109,320 142,835,575 310,312,792 See notes to the interim financial statements