NUAL CONSOLIDATED FINANCIAL STATEMENTS 1999 (ADJUSTMENT)

30 Event subsequent to the balance sheet date On 10 February 2000 the Company issued the three-year unsecured debentures totalling Baht 900,000,000 comprising 900,000 shares of Baht 1,000 each bearing interest rate of 7.75% per annum. The debentures will be due for redemption every three-month period until the last redemption on 10 February 2003. Proceeds from the issue of these debentures will be refinanced to a part of current portions of the long-term borrowings and debentures which will be due in 2000. 31 Change of Accounting Period The company received an approval to change its accounting period from the period ended 30 June to 31 December of every year commencing from the period ended 31 December 1998 onward. For comparative purposes, the company's management prepared the consolidated and company statements of income, of changes in shareholders' equity, of retained earnings and of cash flows for the year ended 31 December 1998 based on the information from the audited financial statements for the six-month period ended 31 December 1999 and for the year ended 30 June 1999. 32 Reclassification Certain reclassifications have been made to the presentation of the financial statements for the year ended 31 December 1998 for comparative purpose. SINGER THAILAND PUBLIC COMPANY LIMITED CONSOLIDATED FINANCIAL STATEMENTS AND COMPANY FINANCIAL STATEMENTS 31 DECEMBER 1999 2 22 13 19 20 21 34 17