NSOLIDATED FINANCIAL STATEMENTS QUARTER-3

- S.T.L. Electronics Limited - - 18,053 1,067,978 - Sansui (Thailand) Limited - - 87,945 77,025 - Singer Trading (Thailand) Limited - - 12,900 11,000 Related parties - Singer Sourcing Limited 5,647,745 - - - - Singer (Shanghai) Sewing Machine Company Limited 3,520,992 - - - - Others 233,391 203,061 - - 9,402,128 203,061 118,898 1,156,003 Trade accounts payable Subsidiaries - Singer Industries (Thailand) Limited - - 2,724,890 2,365,540 - Singer (Broker) Limited - - 32,994,524 38,218,759 Related parties 2,302,319 4,335,509 2,251,142 3,922,455 2,302,319 4,335,509 37,970,556 44,506,754 Amounts due to Related party - The Singer Company B.V. 37,679,022 4,098,958 36,952,306 3,246,608 37,679,022 4,098,958 36,952,306 3,246,608 Singer Thailand Public Company Limited Notes to the Interim Consolidated and Company Financial Statements (Unaudited) For the nine-month period ended 30 September 2000 and 1999 12 Related Party Transactions (Con't) iv) Loans to subsidiaries Company For the nine- month period For the year ended ended 30 September 31 December 2000 1999 Baht Baht Singer Industries (Thailand) Limited Beginning balance 71,500,000 70,000,000 Loans made during the period/year 5,000,000 1,500,000 Loans repaid during the period/year (1,500,000) - Ending balance 75,000,000 71,500,000 S.T.L. Electronics Limited Beginning balance 32,000,000 36,000,000 Loans made during the period/year 3,000,000 4,000,000 Loans repaid during the period/year (12,500,000) (8,000,000) Ending balance 22,500,000 32,000,000 As at 30 September 2000, loans to subsidiaries bear interest rate at the rate of 9.0 % per annum (31 December 1999: 9.5% per annum). Singer Thailand Public Company Limited Notes to the Interim Consolidated and Company Financial Statements (Unaudited) For the nine-month period ended 30 September 2000 and 1999 12 Related Party Transactions (Con't) v) Investments in subsidiaries Investments in subsidiaries in the company financial statements comprise the following companies: Company 30 September 2000 Amount of Amount in Country of Nature of Nature of Paid up capital Investment Cost method Equity method balance sheet incorporation business Relationship (Baht) portion % (Baht) (Baht) (Baht) Singer Industries (Thailand) Limited Thai Manufacturing Holding 5,000,000 99.88 4,994,000 105,117,272 105,117,272 Singer (Broker) Limited Thai Life insurance broker Holding 200,000 99.70 199,400 28,201,779 28,201,779 Singer Trading (Thailand) Limited Thai Trading Holding 125,000 99.86 124,825 110,436 110,436 Sansui (Thailand) Limited Thai Trading Holding 50,000 50.86 25,430 - - S.T.L. Electronics Limited Thai Trading Holding 5,000,000 99.84 4,992,000 - - 10,335,655 133,429,487 133,429,487 Singer Thailand Public Company Limited Notes to the Interim Consolidated and Company Financial Statements (Unaudited) For the nine-month period ended 30 September 2000 and 1999 12 Related Party Transactions (Con't) v) Investments in subsidiaries (Con't) Company 31 December 1999 Amount of Amount in Country of Nature of Nature of Paid up capital Investment Cost method Equity method balance sheet incorporation business relationship (Baht) portion % (Baht) (Baht) (Baht) Singer Industries (Thailand) Limited Thai Manufacturing Holding 5,000,000 99.88 4,994,000 107,948,905 107,948,905 Singer (Broker) Limited Thai Life insurance Broker Holding 200,000 99.70 199,400 24,767,650 24,767,650 Singer Trading (Thailand) Limited Thai Trading Holding 125,000 99.86 124,825 128,076 128,076 Sansui (Thailand) Limited Thai Trading Holding 50,000 50.86 25,430 - - S.T.L. Electronics Limited Thai Trading Holding 5,000,000 99.84 4,992,000 - - 10,335,655 132,844,631 132,844,631 As at 30 September 2000, the negative investments in Sansui (Thailand) Limited and S.T.L. Electronics Limited are presented as liabilities arising from investments in subsidiaries amounting to Baht 48,712 and Baht 13,253,925 respectively (31 December 1999 : Baht 44,770 and Baht 9,046,805).