May 17, 1999.
To : Managing Director
The Stock Exchange of Thailand.
We, The Union Mosaic Industry Public Co.,Ltd. have sent you the company's
financial statements for the first quarter ended March 31, 1999. Our financial
statements present a net loss, compared with the same period of last year. We
would like to point out that matter as follows ;
1.Thailand is experiencing severe economic difficulties. Therefore, a
decreasing in purchasing power has effects on our sales orders.
2.Moreover, supplies in the Ceramic Tiles industry are over than demands,
Consequently, we are facing a high competitive strategies, especially pricing
war.
3.A gain on foreign currency exchange for the quarter ended March 1998.
Sincerely yours,
...........................................
(Miss Paweena Laowiwatwong)
President.
