August 16th ,1999.
Subject : Explanation of financial statement
To : Managing Director
The Stock Exchange of Thailand,
We, The Union Mosaic Industry Public Company Limited have sent you the company's
financial statements for the second quarter ended June 30,1999 that have passed the
examination by the Certified Public Accountant. Our financial statements present a
decreasing in net loss, compared with the same period of last year.
We would like to point out that matter as follow ;
1.This quarter, the company gain profit from foreign currency exchange rate while
in the same quarter of last year, we loss.
2.Net gain from associated companies as compared to loss for the same quarter last
year.
3.Moreover, the selling and administration costs have been reduced, compared with
last year.
4.Our performance present a net loss due to the continuity of severe economic
difficulties did not improve and high competition situation.
Sincerely yours,
(Mr.Natchana Phenjati)
Executive Vice President
