THAI RUBBER LATEX CORPORATION PLC CO., LTD.: Producer of Latex, Rubber Thread, Latex Glove
 

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Guaranteed Supply Reasonable Price High-Quality Strong Partnership For more than three decades, Thai Rubber Latex Corporation has stably become one of the most recognized concentrated latex producer in Thailand and gained numerous reputations within rubber industry worldwide. We have been continuously improving our manufacturing process, logistics network, and material supply management to ensure that we are fully capable of delivering the finest product to our customers when they want. Our devotions to quality are aimed at providing real customer benefits, the benefits that last resulting in maximum customer satisfaction. Thai Rubber Latex Corporation is a leading manufacturer and exporter of latex concentrate, disposable rubber gloves, extruded rubber threads, and various rubber products. Our core competitiveness is derived from consistency of supply, high-quality products, spontaneous customer services. That is contributable to our success.

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  Clarify the effect of changes in accounting policy Q2-2007
                                         August 10 , 2007

Subj : Clarify the effect of changes in accounting policy for investment in
       subsidiary and associated companies

To : Director and Manager of the Stock Exchange of Thailand

        Thai Rubber Latex Corporation (Thailand) Public Company Limited (the
company) would like to report on the effect of the change in accounting for
investment in subsidiary and associated companies as follows:
        In the three-month and six-month periods ended June 30,2007, the
company changed its accounting policy regarding investment in subsidiary and
associated companies so that the separate financial statement, which formerly
reported investment using the equity method, now reports using the cost
method. This is to comply with TAS 44. Thus the company restated its financial
statement by using the historical cost as the cost of the investment in
subsidiary and associated companies of the separate financial statement. This
adjustment caused the net income on the separate financial statement to differ
from that reported in the consolidated financial statement. The company had
net loss of THB 64.86 million for the three-month period and had net income of
THB 122.91 million for the six-month period ended June 30,2007, according to
the consolidated financial statement. However, the separate financial
statement over the three-month and six-month periods showed a net loss of THB
56.12 million and had net income of THB 6.35 million respectively. Therefore,
the company would like to clarify with the additional information as follows:
        1.  After restating, the change has the effect of increasing net
income in the separate income statements for the three-month periods ended 30
June 2007 by Baht 12 million (Baht 0.44 per share) (2006 : increasing by Baht
92 million (Baht 3.36 per share)) and decreasing in the separate income for
the six-month period then ended by Baht 113 million (Baht 4.14 per share)
(2006 : increasing by Baht 21 million (Baht 0.76 per share)). This is because
the separate financial state did not include any share of profits from
investments.
        2. The effect from the restating to other items on the separate
financial statement ended June 30,2007, such as investment in subsidiary and
associated companies and the retained earnings on the balance sheets,
decreased by THB. 171.63 million and THB.96.80 million respectively. The
cumulative effect of the accounting policy has been presented under the
heading of "Cumulative effect of the change in accounting policy for
investments in subsidiaries in the separate financial statements" in the
statement of changes in shareholders' equity.
        However, the change of accounting policy affects only the separate
financial statement. It did not have any effect on the consolidated financial
statements or business fundamentals.

                         Yours Sincerely,



                                         (Mr.Vorathep Wongsasuthikul)
                                               Managing Director



 
 
 
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