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BEC World Public Company Limited

Annual Report 2007

Registration No. 0107538000673 (Formerly: Bor. Mor. Jor. 590)

BEC World Company Limited3199, Maleenont Tower, Floor 2, 3, 8, 9, 30-34, Rama 4 Road, Klongton, Klongtoey, Bangkok 10110

Telephone : 02-262-3333, 02-204-3333 Fax : 02-204-1384

www.becworld.com

www.thaitv3.com

01 Important Financial data

02 Report to the Shareholders

04 Audit Committee Report

06 Board of Directors

08 Executives Directors and Executives Officers

09 Structure of The BEC World Group

12 Activities for Society and Environment

14 Corporate Profile of The BEC World Group

16 Management Discussion & Analysis

24 Report of Directors Relating to Responsibility for Financial Statements

25 Auditor’s Report

26 Financial Statement

61 Revenue Structure

63 Organization Chart of the Company

64 Management Structure

71 Corporate Governance

94 Connected Transactions with Related Party which May Cause of Interest in the year 2007

96 Supplementary Data

103 Directors and Executives data

116 Reference Persons

to be the Market Leader and

the Best Provider, in the

Production and Presentation

of the highest quality news,

Information and Entertainment

Programming

Contents

Annual Report 2007BEC World Public Company Limited 0�

Important Financial Data

Unit : Million Baht

2007 2006 2005

Total Assets 8,197 7,226 6,803

Total Liabilities 1,558 1,031 959

Total Shareholders’ Equity 6,639 6,195 5,844

Revenues from Sales 7,785 6,775 6,291

Total Revenues 7,968 6,951 6,420

Gross Margin 4,538 3,491 2,387

Net Profit 2,252 1,643 881

FinancialRatio

2007 2006 2005

Net Profit to Total Revenues 28.26% 23.63% 13.72%

Return on Total Shareholders’ Equity 33.92% 26.52% 15.08%

Return on Total Assets 27.47% 22.73% 12.95%

Net Profit per Share (Baht) 1.13 0.82 0.44

Dividend per Share (Baht) 1.05* 0.75 0.45

Book Value Per Share (Baht) 3.32 3.10 2.92

Remark * Dividend for 2007 is the proposed number shown here as indicator. It includes an interim dividend which was paid

on August 29, 2007, of Baht 0.50 per share.

Dividendpaymentpolicy

BEC World Plc. has its policy to pay dividend at the rate not lower than 90% of its consolidated

net profits of each fiscal year, except in the year which it is required to invest hugely in important

projects. The dividend payments from subsidiaries, most of which BEC has about 99.99% ownership,

depends largely upon cash flow projections of the company and subsidiary to ensure that BEC can fulfill

this policy.

Annual Report 2007BEC World Public Company Limited0�0�

Report To The Shareholders

TO THESHAREHOLDERSOF

BECWORLDPUBLICCOMPANYLIMITED

They were increased at a high growth rate, as resultants of our

efforts in expanding the primetime and the redevelopment of

certain time slots outside the primetime as well as our investments

in new equipment to improve our quality of services initiated

and implemented throughout prior years, which improve our

ability to further enhance our shareholders’ wealth much more

effectively.

VichaiMaleenontChairman

Annual Report 2007BEC World Public Company Limited 0�

2007 is the best year of BEC World once again. The group was able to made Baht 2,252 millions

as its net profit for the year, Baht 609 millions higher than that of the last year or 37 percent more,

as our advertising sale revenue increased continuously since the last quarter of 2005. Our advertising

income is 15 percent higher or Baht 908 millions more than last year from the higher utilization rate of

our commercial air-time, from primetime expansion and from air-time rate increases on certain day parts.

Our costs were not increased but are slightly lower down as we had changed our programming lineup

reducing the number of local dramas down. Our “concerts and shows” businesses are also profitable.

The selling and administration expenses were quite stable did not change much. Therefore, our operating

margin and our net earnings had improved substantially for another year. Both our advertising sale

revenue and our net earning which we generated and achieved in 2007 are once again the record

numbers. They were increased at a high growth rate, as resultants of our efforts in expanding the primetime

and the redevelopment of certain time slots outside the primetime as well as our investments in new

equipment to improve our quality of services initiated and implemented throughout prior years, which

improve our ability to further enhance our shareholders’ wealth much more effectively. Furthermore the

growth rate of our advertising income achieved in the year 2007 is also higher than that of the industry.

In 2007, BEC World also is able to increase its audience share up substantially and our audience

base is much diverse than our peers, thus is helping improve our revenue share as well. Unfortunately,

following the tragic incident at the New Year eve, the industry was weak and fluctuated caused us achieving

a slow growth of our advertising income during the first half of 2007. However, since the beginning of

the second half of 2007, the industry is improving continuously, both big and small advertisers increased

their spending and the industry is much more diversified as many small advertisers continue increased

their spending at much higher growth rate which is a good indicator for future growth opportunity.

Apart form the improving trend of such high spending which is more evidence since the second half of

2007 as mentioned, at the beginning of this year, 2008, the number of commercial television network

is also reduced in line with the long awaited industry reform whereas certain commercial players will be

transformed to be “public service broadcasters”. Adding these changes to internal improvements of our

competitive edges and the momentum we have created, will ensure that the market share of BEC World

will be improving further especially the share of advertising income. These will be a base for us to grow

our revenue, to enhance our shareholders’ wealth further at a better rate.

The improvements in results of our operations reflect the concerted efforts of all level of our

employees and our partners as well as the continuing supports we have got from our clients, audience,

other public relation media, shareholders and investors. On behalf of the Board of Director, I would like to

express our gratitude and our sincere thanks to all of them.

VichaiMaleenontChairman On behalf of the Board of Directors

Report To The Shareholders (Continued)


TO THESHAREHOLDERSOF

BECWORLDPUBLICCOMPANYLIMITED

Audit Committee Report

Our main duties and responsibilities are to review accuracy and

sufficiency of financial reports of the Company, to provide adequate

and effective internal audit and internal control system of the

Company, to control the Company to comply with all related laws and

regulations, to ensure sufficiency of disclosure of information by the

Company, and to consider and propose the appointment of the

Company auditors and their remuneration.

(ArunNgamdee)Chairman of the Audit Committee

Annual Report 2007BEC World Public Company Limited 0�0�

(ArunNgamdee)Chairman of the Audit Committee

The Audit Committee was appointed by the Board of Director, comprising of three independent

and non-executive directors, namely Mr. Arun Ngamdee as Chairman, Mr. Prathan Rangsimaporn and

Mr. Manit Boonprakob as members of the Committee. Our main duties and responsibilities are to review

accuracy and sufficiency of financial reports of the Company, to provide adequate and effective internal

audit and internal control system of the Company, to control the Company to comply with all related

laws and regulations, to ensure sufficiency of disclosure of information by the Company, and to consider

and propose the appointment of the Company auditors and their remuneration.

During the year 2007, the Audit Committee held six meetings having the followings significant

matters:

1. Reviewing quarterly, annual and consolidated financial statements of the Company and its

subsidiaries, prior to submission to the Board of Director, the Securities Exchange Commission and the

Stock Exchange of Thailand. After due consideration of the said financial statements and discussions with

external auditors and management division, we are of the opinion that the above-mentioned financial

statements are recorded in accordance with generally accepted accounting principles with accuracy,

completeness and sufficient disclosure of information.

2. Evaluating sufficiency and appropriateness of the Company’s internal control system,

through the supervision and review of the Internal Audit Office and external auditors; supporting and

encouraging their independent operation; applying risk assessment as guideline for examining in order

to mitigate from potential risk causing damage to business operation of the Company; discussing with

internal audit officer and external auditor to consider material suggestions for enhancing efficiency of

their operation and control in order to make confidence of management division, Board of Director and

Audit Committee on sufficiency and appropriateness of internal control system and risk management.

3. Reviewing compliance of relevant rules, regulations and laws; following up compliance of

operation systems which have already been improved and developed.

4. Reviewing Company disclosure of connected transactions or other transactions which may

cause conflict of interest.

5. Reviewing organization structure, scope and responsibilities as well as charter of Internal

Audit Office and annual audit plan.

6. Reviewing and discussing with management representative to acknowledge any issue(s)

which might cause administrative difficulties or might have influence on the business operation of the

Company; providing advice to management division as deemed appropriate.

7. Presenting Audit Committee report and advice to the Board of Director for their

acknowledgement regularly in every Board of Director meeting.

For the year 2008, the Audit Committee has proposed the Board of Director to further propose

to Annual General Shareholder Meeting to appoint Dr. Virach Aphimeteetamrong, Mr. Chaiyakorn

Aunpitipongsa and/or Mr. Apiruk Ati-anuwat, certified auditor of Dr. Virach & Associates as the

Company’s auditor for the accounting period for year 2008.

Audit Committee Report (Continued)


Board of Directors

3Mr. Vichai Maleenont Chairman

3Mr. Arun Ngamdee Indipendent Director

3Mr. Prasan Maleenont Vice Chairman

3Mr. Manit Boonprakob Indipendent Director

3Mr. Prathan Rangsimaporn Indipendent Director

3Mr. Matthew Kichodhan Non-Executive Director

3 Mrs. Ratchanee Nipatakusol Director

Ms. Amphorn 7 Maleenont Director

Mr. Prachum 7 Maleenont Director

Ms. Ratana 7 Maleenont Director

3 Ms. Nipa Maleenont Non-Executive Director


Acting Corporate Secretary : Mr. Chatchai Thiamtong

Board of Directors

Mr. Pravit 7 Maleenont Director


Executives Directors and Executives Officers

AUDITCOMMITTEE

1. Mr.Arun Ngamdee Chairman of the Audit Committee

2. Mr. Prathan Rangsimaporn Member of the Audit Committee

3. Mr. Manit Boonprakob Member of the Audit Committee

Mr.Chatchai Thiamtong Secretary of the Audit Committee

NOMINATINgCOMMITTEE

1. Ms. Ratana Maleenont Chairman of the Nominating Committee

2. Mr. Prachum Maleenont Member of the Nominating Committee

3. Mrs. Ratchanee Nipatakusol Member of the Nominating Committee

Mr.Chatchai Thiamtong Secretary of the Nominating Committee

ExECUTIVESDIRECTORSANDExECUTIVESOFFICERS

1. Mr.Vichai Maleenont Chairman of the Executive Board, Chief Executive Director

2. Mr.Prasan Maleenont Vice-Chairman of the Executive Board, Chief Operating

Officer

3. Mr.Pravit Maleenont Director, Executive Director - Television Business and Senior

Executive Vice President

4. Mr. Prachum Maleenont Executive Director - Advertising Media Business and Senior

Executive Vice-President

5. Ms. Ratana Maleenont Executive Director - Finance and Accounting Business

6. Ms. Amphorn Maleenont Executive Director - Production Business

7. Mrs. Ratchanee Nipatakusol Executive Director - Marketing and Sales

8. Mr.Panithan Tosnaitada Vice President - Advertising

9. Mr.Somrak Narongvichai Vice President - Production

10. Mr.Borisut Puranasamriddhi Vice President - Administration

11. Mr.Chatchai Thiamtong Vice President - Finance, Corporate Secretary

12. Ms. Apinya Kangsanarak Ph.D. Vice President - Human Resource

13. Mr. Pisanu Ruangrajitpakorn Vice President - Technology

14. Mr.Noppong Bootkhwan Vice President - Internal Audit Office

15. Mr.Nopphadol Khemayotin Vice President - Business Development and Investment



Note: 1. Data as at December 2007

2. Number in bracket is registered capital in Baht million

except ThemeSTAR Limited which is in million US

Dollar.

3. % show is holding percentage except Virgin BEC-

TERO Radio (Thailand) Co., Ltd.

* Not yet operating

BROADCASTINg

ANDMEDIABUSINESS

PROgRAMMESOURCINg

ANDPRODUCTION

3FREETVBROADCASTINg

100% The Bangkok Entertainment

Co., Ltd. (300)

3RADIOBROADCASTINg

100% You & I Corporation CO., Ltd. (35)

3NEWMEDIA

100% BEC Multimedia Co., Ltd.

(200: paid up 50)

100% Satellite TV Broadcasting Co., Ltd.* (1)

100% Bangkok Satellite & Telecommunication

Co., Ltd.* (25)

100% BECi Corporation Ltd. (200)

50% Thai Audiotex Service Ltd. (30)

51% Digital Factory Co., Ltd. (10)

60% Mobi (Thai) Co., Ltd. (7.5) 40%

3DOCUMENTARYANDENTERTAINMENT PROgRAMMESOURCINg ANDPRODUCTION

100% New World Production Co., Ltd. (5)

100% Bangkok Television Co., Ltd. (5)

100% Rungsirojvanit Co., Ltd. (5)

100% BEC International Distribution

Co., Ltd. (5)

60% TVB 3 Network Co., Ltd. (10)

3ExTENDED&SUPPORTINg

100% BEC Broadcasting Center Co., Ltd. (1)

100% BEC IT Solution Co., Ltd. (15)

100% BEC Asset Co., Ltd. (30)

100% BEC Studio Co., Ltd.* (5)

100% BEC News Bureau Co., Ltd.* (5)

3PRODUCTIONOFSHOWSAND MARkETINgPROMOTIONACTIVITIES

60% BEC – TERO Entertainment Plc.

(250: Paid up 200)

60% Thaiticketmajor co., Ltd. (10)

100% BEC – TERO Arsenal Ltd. (18)

100% BEC – TERO Exhibition Co., Ltd. (5)

49% Virgin BEC – TERO Radio

(Thailand) Co., Ltd. (49.96)

40% ThemeSTAR Limited (4.02)

20% CVD Entertainment Plc. (360)

Annual Report 2007BEC World Public Company Limited�0

Annual Report 2007BEC World Public Company Limited ��

Annual Report 2007BEC World Public Company Limited��

Activities for Society and Environment

118Jan08 “Attending Royal Funeral of HRH

Galyani Vadhana”

129Mar07 “Yenpathai Tai Rom Phrabaramee

80 Punsa” of Thai Red Cross Society

18Mar07 “Thai S0acred Ceremony” for luck and fortune of artists, hosts and

program producer

129Jul07 “20 Years Wong Wien Chee Wit” making donation to 10 organizations

130Jul07 “Cows and Buffaloes to be Rescued

for Royal Charity” at Phrasirmahathat Woramahavihan Temple, Bangkhen

121Aug07 “Selling flags of Mahidol Day” for earning contribution to poor patient

and procurement of medical apparatus

130Aug07 “Mahatsachan Pansook” Selling T-shirt

souvenir earning contribution to the Cardiac Children Foundation

124Oct07 “Guiding outreach children of the Center

for Protection of Children’s Rights Foundation to the Zoo”


80YEARSTHAMDEEPUAPORCAMPAIgNS

117Nov07 “Preuksa Saward Poapan Mai Ngam

Pluksang Khwamdee 80 Years Tham Dee Pua Por”

129Jan08 “Punrakpunnamjai to Bann Bangkae”

11Feb08 “Selling poppy flowers” to earn

contribution for veteran and their family

1“Channel 3 Activity for Society” giving social opportunity every 2 months during

2007-2008, organizing 5 activities in total

17Mar07 “Making donation of BHT

1,120,000” to Cows and Buffaloes to be Rescued for Royal Charity on the Auspicious Occasion of His Majesty the King’s 80th Birthday

19Sep07 “Reforesting for Foresty

Agricultural, the Celebrations on the Auspicious Occasion of His Majesty the King’s 80th Birthday Anniversary 5th December 2007”

12Dec07 “Knitting Yellow Scraft” by

civilian for celebration on the auspicious occasion of His Majesty the King’s 80th Birthday Anniversary with 51 kilometers length, giving to Army chief General Anupong Paochinda on 3 December 2007 for distributing to soldiers in 3 southern boarder provinces, monks and poor people.

Campaign “Energy Saving for Nation” to encourage people for reduction of energy usage

Campaign “Roo Pae Roo Chana Roo Apai” to pass on knowledge of harmony

Campaign “Pluk Tonmai Nueng Kon Nueng Ton” Campaign “Earning Budget for Medical Apparatus, Diagnosis for Breast

Cancer” for cancer clinicCampaign “Global Warming Bag” to produce special bag for replacing of

plastic bagCampaign “Blood Donation to Give Lives – Love is Giving” at Thai Red

Cross SocietyCampaign “Organizing Programme for Stop Drinking & Smoking”


Corporate Profile Of The BEC World Group

THE BEC WORLD Group was established in 1995 by combining all of the “MALEENONT”

companies involved in broadcasting, media, TV programme sourcing and production. At the end of the

year 2007, the Group is comprised of 27 companies which are BEC World Plc., 23 subsidiaries and 3

associates (excluding subsidiaries of the associate), whereas BEC World Plc. is the parent company. The

businesses of the group are divided into the following categories:-

1. BROADCASTINgANDMEDIABUSINESS

1.1 TVBroadcasting

3Terrestrial Free to Air TV broadcasting: Bangkok Entertainment Co., Ltd. will continue

to operate Thai TV Color Channel 3, a terrestrial nation wide free to air television network, until March

2020, through a joint operating agreement with MCOT Public Company Limited who has received the

right from previously the Mass communication Organization of Thailand. As a broadcaster who has full

ownership of the airtime, the company is obliged to schedule programmes, arrange and modernize the

programming format in order to attract as many viewers as possible.

3Subscribed TV broadcasting: BEC World also operates a Thai channel in Japan, as

a satellite TV channel, for subscription everyday - 24 hours a day. In a very near future, BEC World will

also provide a Thai channel for subscription on internet platform everyday - 24 hours a day in the United

States and Canada, with Jump TV.

1.2 RadioBroadcasting

Bangkok Entertainment Co., Ltd., You & I Corporation Co., Ltd. and BEC-Tero Entertainment

Plc. broadcast on three FM frequencies which are FM 95.5, 103.0 and 105.5 MHz. Virgin BEC-Tero Radio

(Thailand) Co., Ltd., an associate of BEC-Tero Entertainment Plc. is helping as commercial airtime reseller

and advisor on programming improvement. The operating of FM 95.5 is joint operating with the Public

Relations Department, while FM 103.0 is joint operating with the Army; both of them are short-term

agreements. However, the FM 105.5 runs until March 2020.


1.3 NewMedia

New media includes the Internet, Internet-related business and Mobile Entertainment.

These new businesses are operated under BECi Corporation Co., Ltd., BEC Multimedia Co., Ltd., Mobi

(Thai) Co., Ltd., Thai Audiotex Service Ltd., and Digital Factory Co., Ltd. Through Bangkok Satellite

& Telecommunication Co., Ltd and Satellite TV Broadcasting Co., Ltd., the company is exploring the

opportunity in satellite TV business.

2. PROgRAMMESOURCINgANDPRODUCTION

2.1 DocumentaryandEntertainmentProgrammeSourcingandProduction

BEC World Public Co., Ltd., Rungsirojvanit Co., Ltd., New World Production Co., Ltd., BEC

International Distribution Co., Ltd., TVB 3 Network Co., Ltd., Bangkok Television Co., Ltd. and Bangkok

Drama, Bangkok Comedy, BangkokTV of BEC-Tero Entertainment Plc. are the key producers for the

company. They source and produce documentaries, entertainment programmes, mostly for Thai TV

Color Channel 3.

2.2 ProductionofShows,MusicandCampaignActivities

BEC-Tero Entertainment Plc. is responsible for production of shows, music and campaign

activities especially in organization and promotion of international shows, concerts, various marketing

campaigns, sponsorship and marketing promotion activities of local sport and entertainment events.

ThaiTicketMajor Co., Ltd. provides public relations activities and advertising services, as well as ticket

sales (shows and bus) and reservations for the Group’s companies and others. ThemeSTAR limited – an

associate of BEC-TERO, develops and produces shows and exhibitions held around the World. BEC-Tero

Exhibitions Ltd., organizes trade shows, conferences and exhibitions. BEC-Tero Arsernal Ltd., manages a

football club and related business such as training and souvenir sales.

2.3 ExtendedandSupportingBusinesses

Other extended and supporting businesses are provided by several subsidiaries mostly

for internal use. BEC IT Solution Co., Ltd., provides information technology services. BEC Broadcasting

Center Co., Ltd. provides broadcasting facilities services. BEC Asset Co., Ltd. provides asset management

and leases. The company plans to provide a wide range of production services, including studio and

equipment rental and post-production services by BEC STUDIO Co., Ltd. The company plans to make the

news departments of both Thai TV Color Channel 3 and our radio stations, an autonomous unit as BEC

News Bureau Co., Ltd., to be responsible for producing news programmes not only for its own television

and radio uses, but also for selling to other news agencies.

In addition, BEC World Group also holds a 20 percent stake in CVD Entertainment Plc., the

parent company of the CVD Group of Companies whose main businesses are entertainment programme

sourcing and production.

At present, BEC World Public Co., Ltd. has a registered capital of Baht 2 billion and a share

capital of 2,000 million shares, the company’s shares listed as “BEC”, began trading on the SET on July

18, 1996. As at the end of 2007, the company employed a total of 1,748 personnel.

BEC World Public Company Limited is located in Maleenont Tower, 3199 Rama IV Road.,

Klongton, Klongtoey, Bangkok 10110, and can be reached by telephone at # (662) 262-3333, by Fax

#(662) 204-1384 and at Web-site: www.becworld.com .

Corporate Profile Of The BEC World Group


Management Discussion & Analysis

INDUSTRIALENVIRONMENT–BROADCASTINgANDADVERTISINgMEDIABUSINESS:

BEC World group engages in both domestic and international broadcasting. The domestic

broadcasting is conducted through channel 3 TV station, a free TV covering areas throughout the

country and for international broadcasting through subscribed TV system in Thai language broadcasting

in Japan, U.S.A. and Canada for viewers within the subscribed areas due to small size of the international

broadcasting. This report mainly focuses on industrial environment of TV business of domestic

broadcasting which is a core business of BEC World group, which is a competitive industry. TV business

could be categorized into two major types, free TV and subscribed TV.

For free TV business, currently there are six main networks where the 5 original networks (3, 5,

7, 9 and 11) broadcast in VHF system and the new network TPBS (formerly iTV/TITV) broadcasts in UHF

system. Even though all networks have nationwide broadcasting coverage, only two major networks

(channel 3 and channel 7) have dominated the broadcasting industry with the aggregate percentage

of viewers during primetime at 70%. Channel 7 has been accepted to be the leader in term of number

viewers since it could establish its nationwide network coverage long before its peers and had advantage

in creating viewer base. Now, it has market share on viewers at 40%. For Channel 3, it originally focused

on viewers in city area so the percentage sharing in viewers was smaller. In the past ten years, channel 3

has offered variety of TV programs to increase number of viewers, however, it still has been the second

rank in the viewer share, at 30%, lower than channel 7. For other four channels, each of them has only

10% or less of sharing while channel 11 has the least viewers. After 2006, as the Supreme Administrative

Court rendered its judgment ruling that iTV had to revert its position to offer news and documentary

programs during prime time again causing a change in a market competition. However, there was

��Annual Report 2007BEC World Public Company Limited

no material change in the competition environment when the government contract between iTV and

government was terminated and “iTV” was changed to “TiTV” since the government has allowed TiTV

to operate its same business until TiTV was converted to be public TV with no advertising once again

at the beginning of year 2008. As to the market share on advertising spending, it was the same as the

market share of viewers due to the unrest during the end of 2006 causing reduction of the money

spending on advertising through TV media at 5% lower than the amount spent in the earlier quarter.

Major change in other TV stations during the 2nd quarter also caused adverse effect to industry for the

year 2007. Neilsen Media research reported that not only there was no growth of advertising money

during the 2nd quarter of 2007 compared with the previous quarter but investment for the whole

industry was decreased approximately 9% compared with the same quarter of the previous year, in

spite of the fact that, normally, 2nd quarter would be good period of the year. However, the industry

has been recovered continuously every month throughout the second half of year until the last quarter

of year 2007, which could be seen from the increase of money spending on the advertising through

TV media. Although Neilsen Media reported that Uniliver, the biggest customer in the market spending

on advertising, has considerably cut its advertising budget for the last quarter of the year, the whole

industry still grew up constantly more than 5% compared with the previous year. Total advertising

money investment spent through TV media for year 2007 was approximately Baht 53,500 million,

a bit higher than the previous year, but it was still less than the growth rate of the whole advertising

industry, which was 2.5%. However, TV media still had 58% of the total market share. The ongoing

economic improvement during the second half of 2007 including variety of advertisers in the industry,

advertising budget for small group of products, was increased in line with the economic environment.

Major advertisers spent money on their new products causing more intense competition. Apart from

the said growth of advertising revenue as clearly seen in the second half of 2007, during the beginning

of 2008, number of commercial TV station operators was reduced due to industry revolution classifying

some operators as public service providers, additional from original type of operator, i.e., commercial

for purpose, resulting in the increase of advertising revenue sharing of BEC World group as we have

already prepared ourselves on opportunity and competitive capability. Neilsen Media research reported

that Channel 3 and Channel 7, the major operators, received their advertising revenue sharing lower

than the market share of their viewers. Channel 3 received the market share of advertising spending in

the second rank following Channel 7, similar to the market share of viewers. However, the difference

of their advertising revenue sharing between Channel 3 and Channel 7 was narrower than their viewer

sharing, while small broadcasting operators received their advertising revenue sharing higher than their

viewer sharing. However, no one could confirm correctness and accuracy of such report. Although

the market share of the two major operators has been high, other operators have been aggressively

competing to receive bigger market shares. Moreover, the broadcasting industry still faces with new

challenges including potential new competition as there is still room in UHF system for new players and

other platforms awaiting for future directions to be set by the new independent regulatory body which

Management Discussion & Analysis (Continued)

�� Annual Report 2007BEC World Public Company Limited

is in the process to be established, but these changes will not be suddenly occurred as prior warnings,

such as, public discussion of a draft master plan, shall be required to be notified prior to implement the

changes or issuing new licenses. Competition for the industry is interesting and observable.

As to subscribed TV business, there has been only one national player who has obtained license

and various small local operators. Although those operators have been in the business for many years, but

they have been unable to significantly expand their subscriber base causing many operators to transform

themselves to be free TV in the hope that they would get advertising revenue instead. However, with

their limited penetration and so fragment in nature, they have not been able to attract most of viewers of

free TV. Besides, most of subscribers live in central area surrounded by high rise buildings and subscribed

TV operators also carry signal of free TV included in its service, this has helped solving a lot of blind

spot problems of free TV. As for BEC World group, the Company also sells TV programs to subscribed

TV operators. Despite the lack of competition among subscribed TV operators currently, we believe that

with our strengths in TV production and high quality of programs, there are still opportunities where we

will be able to generate additional incomes from subscribed TV businesses.

For radio business, which is a part of business of BEC World group, competition is more intense

than TV broadcasting as there are a lot more players including both FM and AM frequencies. With

narrower coverage than TV, each radio program or station has become much more segmented. Each

radio station is now focusing on its niche audience market and has clear market position. Improved

and changing economic environment has benefited operators with clear market positions and created

more competition among radio operators. As we realize that key success factors for both TV and radio

operators are the ability to reach into advertisers’ target groups, we focus our efforts on the quality and

expansion of our audience base. Each of our radio station has created its niche market and become

successful for the second half of the last year. However, as the setting-up of the new independent



regulatory body (NBC – National Broadcasting Commission) which started by the 1997 Constitution has

been postponed, most of the radio licenses were expired and became short-term licenses to be renewed

on yearly basis causing the increase of competition to fight for radio frequency and the increase of

operating cost, as well as create business interruption if one could not be granted for maintaining the

frequency. Although the program could still be presented to another radio station, this could reduce

the profitability of the radio business. However, for radio business of BEC World, it would not create any

impact since the revenue from this business has not been significant proportion.

New media business, which includes internet websites and messaging service via mobile

network, such as voice message, text message, still and dynamic image contents, also experienced rising

competition as there have been more and more players getting into the market while market volume has

been dramatically increased. However, we believe that key success factors for this business are quality of

content and effective marketing. Therefore, we are confident that BEC World is well placed to compete

with its peers. Sharing with this new media business will increase opportunity of the group to raise value

of its programs. However, this business is considered very small with normal growth rate.

INDUSTRIALENVIRONMENT-PROgRAMSOURCINgANDPRODUCTIONBUSINESSES:

For program sourcing and production businesses, as a broadcaster, we need to source

programs for our own broadcasting business, and we have also expanded into live performance and

film production. While organizing live performance is quite diverse, the Company has the expertise in

organizing international performance of which there are only a few meaningful players. The Company

has got a strong track record, extensive marketing and promotion network for its subsidiaries to engage

in TV media and radio businesses. The competition has not been intense due to BEC World group has

been a top choice among the leading players in this business for any operator who wishes to organize

a show in Thailand. As for film production, BEC World had revitalized the Thai film industry. However,

because of our success in the past, there have been a lot of new film producers coming into the market

with at lease one Thai film a week or even more. As a result, the Company has decided to reduce its role

in film production and focuses more on distribution of these Thai films to other countries.

RISkFACTORS:

As BEC World’s major incomes have been derived from selling airtime to advertisers, the key

risk factor is the growth of advertising spending which depends on purchasing power of consumers in

the country and competition among manufacturers who are the real advertising spenders. Though the

management is unable to control these factors directly, we believe that this is not a serious concern

for our business operation because main advertising spenders of TV and radio media are consumer

product manufacturers who target mass market, which has been growth continuously as a result of

growing economic and high competition in consumer product industries. In addition, the recovery of

economic as a whole has caused the higher competition and arrival of new comers resulting in growing

of advertising spending since 1999 in line with improved economic environment as recovered from

the economic crisis in 1997. Though such growth has slowed down in certain degree during the past


�0 Annual Report 2007BEC World Public Company Limited

couple of years due to reduction of consumer confidence, there is still major growth in many areas.

The risk that advertising spending will fall is very minimal and if happens, it would only be temporary.

This is because the competition in advertising market is a factor to raise advertising money as well as

media in BEC World group is remain the most effective mean in reaching end-consumers. BEC World

group continues to improve the operating efficiency in order to better reach its end-consumers than its

competitors. This may be viewed as one of the risk factors whether the group would be able to maintain

or raise its efficiency in reaching end-consumers despite its success in improving efficiency of programs

and sourcing. There is also a risk of competition with other operators both old operators who could

improve their efficiency and new operators who may acquire license to establish a new network, a risk

of establishment of a new independent regulatory body who is also the license issuer. Although BEC

World group may not be significantly affected since the Company has been allowed to continue the

operation under protection of the Constitution and new act governing broadcasting business operation

as effective since March 5, 2008, there is also a risk whether the group will be granted for renewal of

operation of relevant radio frequencies due to the delay of establishment of such regulatory body and

the nature of some contracts to operate radio frequencies granted on yearly basis. However, since the

revenue generated from radio business is still small and the profitability is also low, the impact to the

group is minimal if the group can not carry on this business. The risks from potential substitutes of TV

media include electronic media such as internet; new TV media such as Satellite TV, Digital TV, etc.

BEC World group believes that there is no immediate impact on the operation of BEC World group from

these new media in the near future especially in regard to selling advertising airtime. This is because

advertising spending tends to concentrate on media which can effectively reach mass target group.

Similarly, impact on the group’s business from subscribed TV’s selling airtime as currently allowed by

law is still small since the subscribed TV normally has small group of viewers which can be considered as



niche market while free TV (Channel 3, 5, 7, 9, 11) has viewer base throughout the country which is a

mass market. On the other hand, Channel 3 has received indirect benefits from subscribed TV operator

who tends to have subscribers in urban area. Subscribed TV has helped solving blind spot problem of

free TV caused by high rise buildings blocking VHF and UHF signals. As a result, Channel 3 has been able

to expand its viewer base. Free TV advertising remains the most popular approach for consumer product

manufacturers. For other electronic media, such as, internet, although it has been new and become

popular quickly, the access of users is limited and is regarded as a niche market as well. This new media

is normally used as a supplementary media to free TV advertising and is only effective if the advertisers

focus on niche market where mass market media may be too expensive for a small target market. These

advertisers are not our main clients but they may establish new product/advertiser to raise competition

in the market in the future which, eventually, will be benefit to BEC World group.

Apart from business risks, it is the fact that Maleenont family holds majority shares approximately

57% of BEC World’s total shares. Therefore, Maleenont family is able to set management policy of the

Company. However, the Company has strictly complied with good corporate governance policy as well as

all principles as to minority shareholder protection. There are also both internal and external independent

units to supervise management of the Company. In addition, the Company shall obtain special resolution

from the shareholder meeting in order to undertake any transaction which is deemed material under the

law. The foregoing factors shall ensure and help reduce the administrative and management risks.

OPERATINgRESULT

Due to modification in accounting policy as to investment money in subsidiaries and associated

companies as recorded in specific financial statement of the Company, which is effective this year,

operating result of the Company as shown in such financial statement is different from the operating

result of the group. To avoid any confusion, explanation is provided in the consolidated financial statement

of the Company.

STRUCTUREOFBECWORLDgROUP

In 2007, there was no material change of shareholding structure of BEC World group except for

sale of investment in Thai Ticket Master to Major group, making it to be minority shareholders therein,

sale of all investments in SMBT Publishing to its current majority shareholders, acquisition of minor

shares in BEC-TERO Exhibitions resulting in holding 99.9% of its total shares including entering into joint

venture with Scenario under the name of “BEC-TERO Scenario Joint Venture” to organize “Cat”, the

musical show.

NETPROFIT

BEC World group had net profit for year 2007 in an amount of Baht 2,252 million or Baht 609

million higher than the previous year which was increased 37.1% compared with the previous year. This

is due to business growth of BEC World since the forth quarter of year 2005, increasing the revenue

more than 14.9% or Baht 908 million compared with the previous year due to increased amount of sale


�� Annual Report 2007BEC World Public Company Limited

of air time, extension of super prime period, adjustment of air time rate for some period while service

cost remained the same or even decreased from reduction of movie series in TV program, acquisition of

profit from concert and show business, and minor change of sale and management costs. These factors

caused BEC World to acquire high rate of profit and growth. Though, we were required to recognize

large amount of loss in associated companies resulting from change of their business structures, such

loss were mainly from deducting expenses or depreciation which did not affect cash flow and financial

status of such associated companies.

SALEREVENUE

Revenue from selling air time of BEC World group was growing at a rate better than the

whole industry, at 14.9% higher than the previous year due to the increased amount of selling air time

consecutively, extension of super prime period, and adjustment of air time rate for some period. Revenue

from organizing concert and show was also higher than the previous year.

COSTSANDExPENSES

Cost was reduced compared with the previous year, some of which resulted from reduction of

movie series in TV program. Cost for organizing shows was increased in proportion to the revenue, but

at the lower rate compared with the revenue increase. Sale and management expenses as a whole, had

no significant change from the previous year, although the expenses concerning building, premises and

depreciation were increased.



FINANCIALSTATUS

Total assets were increased compared with the balance as at the end of year 2006. Cash

and temporary investment money were increased significantly consistent with the increase of profit.

Liabilities were slightly increased from the previous year due to higher corporate income tax. Equity was

increased in accordance with the increase of profit. The group remains stable.

FACTORS THAT MAY AFFECT OPERATINg RESULT AND FINANCIAL STATUS IN THE

FUTURE:

Most of the group’s operating costs and expenses do not directly relate to the revenue. They

are either fixed or varied according to the market situation. In 2007, BEC World could slightly reduce its

service cost. Nevertheless, it seems that there would be no factors, which could materially increase the

costs and expenses this year as our expansion and redevelopment programs are completed. Furthermore,

it is widely assumed that the value of Baht currency will remain stable, if not stronger, and the inflation

rate which was increased significantly last year would be quite low this year. The concern that the

intense competition in the TV broadcasting business would increase the programming costs significantly

is seemed to be exaggerated as the industry does not have problem on shortage of resources and the

key success factor is not the competition for bidding for resource. Therefore, the group’s operating

efficiency and profitability depends very much on its ability to generate revenue. Although the selling of

advertising airtime, which is the main source of our revenue, depends largely on the growth of the overall

advertising expenditure of the economy which is beyond the direct control of the group management,

it depends very much on the general economic conditions of the country and the competitiveness

within the industry of the advertisers. With the intense competition in the market, in line with economic

expansion, it is thus our belief that the group’s profitability this year, 2008, will be improved further.

As the group has a very strong capital structure with excellent liquidity without any problem of assets

quality, there should be no financial problem of any kind.


Annual Report 2007BEC World Public Company Limited24

Report of Directors Relating to

Responsibility for Financial Statements:

The accompanied financial statements comprised of Balance Sheets, Statements of Income,

Statements of Changes in Shareholders’ Equity, Statement of Cash Flows and Notes to the Financial

Statementshavebeenpreparedbythemanagementinconformitywithgenerallyacceptedaccounting

principles and appropriate accounting policies applied consistently and basedonmanagement’s best

estimatesandjudgmentswithadequatedisclosureofmaterialissues.

TheBoardofDirectorshassetupandmaintainedeffective internalcontrolsystemdesigned

to provide the management with reasonable assurance that transactions are recorded properly, the

assetsaresafeguardedandthatmaterialfraudsandmalpracticesareprecluded.

TheBoardofDirectoralsoappointedtheAuditCommittee,whichcomprisesofthreeindependent

non-executivedirectorstoreviewtheaccuracyandsufficiencyofthecompany’sfinancialreportsandto

ensuretheadequacyandtheefficiencyoftheinternalcontrolsystemsoftheCompany.Opinionofthe

AuditCommitteeisshowninAuditCommittee’sReportpublishedinthisannualreport.

BEC World Plc. also arranged to have independent certified public accountant as auditor

auditingthefinancialstatements.Theauditorperformedauditsofthefinancialstatementsinaccordance

withgenerallyacceptedauditingstandardsandexpressedhisindependentopiniononthetrueandfair

of the company’s financial positions and performance of its operations as stated in the financial

statements.Auditor’sReportisalsoshowninthisannualreport.

(Mr.Vichai Maleenont)Chairman

OnbehalfoftheBoardofDirectors

Annual Report 2007BEC World Public Company Limited 25

To The ShareholderS BeC World PuBliC CoMPany liMiTed

IhaveauditedtheconsolidatedbalancesheetsofBECWorldPublicCompanyLimitedandits

subsidiariesasatDecember31,2007and2006,therelatedconsolidatedstatementsofincome,changes

inshareholders’equityandcashflowsfortheyearsthenendedandtheseparatefinancialstatementsof

BECWorldPublicCompanyLimitedforthesameperiods.Thesefinancialstatementsaretheresponsibility

oftheCompany’smanagement.Myresponsibilityistoexpressanopiniononthesefinancialstatements

basedonmyaudit.

Iconductedmyauditinaccordancewithgenerallyacceptedauditingstandards.Thosestandards

requirethat Iplanandperformtheaudittoobtainreasonableassuranceaboutwhetherthefinancial

statementsare freeofmaterialmisstatement.Anaudit includesexamining,ona testbasis,evidence

supporting the amounts anddisclosures in thefinancial statements.Anaudit also includes assessing

theaccountingprinciplesusedandsignificantestimatesmadebymanagement,aswellasevaluating

theoverallfinancialstatementpresentation.Ibelievethatmyauditprovidesareasonablebasisformy

opinion.

In my opinion, the aforementioned financial statements present fairly, in all material

respects, the financial position of BEC World Public Company Limited and its subsidiaries and the

separate financial statements of BEC World Public Company Limited as at December 31, 2007 and

2006, the results of their operations, changes in shareholders’ equity and their cash flows for the

yearsthenendedinaccordancewithgenerallyacceptedaccountingprinciples.

In 2007, according to Note 3 to the financial statements, the Company has changed its

accounting policy for investments in subsidiary and associated companies which is presented in

the separate financial statements from the equity method to cost method following the Accounting

Standard No. 44 (Revised 2007) “Consolidated Financial Statements and the Separate Financial

Statements”andAccountingStandardNo.45(Revised2007)“AccountingforInvestmentsinAssociates”.

In changing in such accounting policy, the Company has to restate the previous periods separate

financialstatements for theyearendedDecember31,2006 includingbeginningretainedearningsas

atJanuary1,2007and2006.

(Mr. Chaiyakorn aunpitipongsa)CertifiedPublicAccountantRegistrationNo.3196

February18,2008

Auditor’s Report

dr.virach and associate office Company limited 7thFloor,PanuneeBuilding.518/3PloenchitRoad.,Bangkok10330

Tel.(66)2252-2860,255-2518;Fax.(66)2254-1210


Notestothefinancialstatementsformanintegralpartofthesestatements.

Balance Sheets

BeC World PuBliC CoMPany liMiTed and SuBSidiarieSASATDECEMBER31,2007AND2006

aSSeTS

Current assets

Cashandcashequivalents 3,201,101,650 1,994,033,576 1,853,361,960 766,097,185

Currentinvestments

Fixeddepositatbank 240,834,639 648,320,889 200,834,638 40,168,164

InvestmentsinOpen-endFund-net 4.2,5 330,698,360 38,624,158 286,810,827 10,212

Totalcurrentinvestments 571,532,999 686,945,047 487,645,465 40,178,376

Tradeaccountsreceivable-net 4.3,6

Tradeaccountsreceivable 730,565,225 641,261,478 1,200,000 1,060,000

Tradeaccountsreceivableofrelatedparties 15,484,495 24,511,112 495,507,694 341,531,919

Totaltradeaccountsreceivable-net 746,049,720 665,772,590 496,707,694 342,591,919

Short-termloanstorelatedparties-net 7 44,065,570 55,516,060 329,262,585 503,455,891

Othershort-termloans-net 8 - - - -

Inventories 4.4,9 311,700 445,156 - -

Othercurrentassets

Concertsandtelevisionprogrammes

underprocess 4.5 24,068,881 32,484,616 1,143,780 1,143,780

Others 157,141,358 212,348,741 20,886,684 26,635,879

Totalothercurrentassets 181,210,239 244,833,357 22,030,464 27,779,659

Total Current assets 4,744,271,878 3,647,545,786 3,189,008,168 1,680,103,030

non-current assets

Investmentsinsubsidiaries-net 4.6,10 - - 794,186,528 810,900,528

Investmentsinassociates-net 4.6,10 150,702,346 220,778,441 98,074,187 144,805,757

Otherlong-terminvestments

Investmentsinothercompanies 4.7 8,999,990 8,999,990 - -

Investmentsinlandandstructures 4.8,11 63,431,165 63,431,165 763,980 763,980

Totalotherlong-terminvestments 72,431,155 72,431,155 763,980 763,980

Property,plantandequipment-net 4.9,12 666,710,328 745,556,292 53,666,517 82,620,201

Deferredrighttouseproperty-net 4.10,13 1,101,166,974 1,157,853,503 - -

Deferredpicturesrental,pictureproducts,

playsandcopyrightcharges-net 4.11,14 1,274,075,316 1,205,416,667 613,624,106 542,634,447

Goodwill-net 4.12 - 5,088,890 - -

Depositonpicturescopyright 32,704,573 17,500,000 - -

Prepaidplaysproduction 64,820,000 85,000,000 64,820,000 80,000,000

Fixeddepositwithobligation 21.1 9,307,990 3,201,779 - -

Othernon-currentassets 4.13 81,264,982 65,483,239 10,227,596 8,554,094

Total non-current assets 3,453,183,664 3,578,309,966 1,635,362,914 1,670,279,007

ToTal aSSeTS 8,197,455,542 7,225,855,752 4,824,371,082 3,350,382,037

Unit:Baht

ConSolidaTed

SeParaTe FinanCial STaTeMenTS

notes 2007 2006 2007

2006 (reSTaTed)



Balance Sheets (Cont.)

BeC World PuBliC CoMPany liMiTed and SuBSidiarieSASATDECEMBER31,2007AND2006

liaBiliTieS and ShareholderS’ eQuiTy

Current liabilities

Tradeaccountspayable 385,996,259 237,032,727 224,559,443 89,354,439

Corporateincometaxpayable 481,723,044 254,148,867 56,113,997 36,310,173

Othercurrentliabilities

Accruedexpenses 351,743,631 294,842,223 26,952,062 23,679,101

RevenueDepartmentpayable 65,114,387 62,477,123 10,594,438 11,493,879

Unduesaletax 44,831,534 41,313,100 31,862,702 19,985,943

Cashreceivedfromsellingtickets

forothercompanies 64,454,965 17,965,711 - -

Others 163,887,066 123,563,198 2,652,616 2,834,129

Totalothercurrentliabilities 690,031,583 540,161,355 72,061,818 57,993,052

Total Current liabilities 1,557,750,886 1,031,342,949 352,735,258 183,657,664

Total liabilities 1,557,750,886 1,031,342,949 352,735,258 183,657,664

Shareholders’ equity

Sharecapital

Authorizedsharecapital

2,000,000,000commonstocksofBaht1

parvalue 2,000,000,000 2,000,000,000 2,000,000,000 2,000,000,000

Issuedandpaid-upsharecapital

2,000,000,000commonstocksatBaht1each 2,000,000,000 2,000,000,000 2,000,000,000 2,000,000,000

Premiumoncommonstocks 18 1,166,724,373 2,536,498,586 1,166,724,373 2,536,498,586

Currencytranslationdifferences (3,393,650) (2,529,790) - -

Retainedearnings(deficits)

Appropriated

Legalreserve 17,18 200,000,000 200,000,000 200,000,000 200,000,000

Unappropriated 3,136,499,206 1,335,773,037 1,104,911,451 (1,569,774,213)

Treasurycommonstocksofassociate 10 - (20,975,384) - -

Total Shareholders’ equity of the Company 6,499,829,929 6,048,766,449 4,471,635,824 3,166,724,373

MinorityInterest 139,874,727 145,746,354 - -

Total Shareholders’ equity 6,639,704,656 6,194,512,803 4,471,635,824 3,166,724,373

ToTal liaBiliTieS and ShareholderS’ eQuiTy 8,197,455,542 7,225,855,752 4,824,371,082 3,350,382,037

Unit:Baht

ConSolidaTed


notes 2007 2006 2007

2006 (reSTaTed)



Statements of Income

BeC World PuBliC CoMPany liMiTed and SuBSidiarieS FORThEYEARSENDEDDECEMBER31,2007AND2006

reVenueS

Advertisingincome 7,022,458,655 6,114,126,604 520,871,750 481,029,500

Incomefromcopyrightandotherservices 250,281,878 294,767,540 1,044,465,906 782,899,796

Incomefromorganizingconcertsandshows 513,245,013 365,811,150 - -

Gainoninvestmentdisposalinsubsidiary 10 26,278,748 - - -

Dividendincome 10 - - 2,809,626,808 1,326,339,960

Otherincome 155,821,465 161,248,013 65,268,356 72,435,018

Shareofprofitfrominvestmentsforusing

theequitymethod - 15,201,241 - -

Total revenues 7,968,085,759 6,951,154,548 4,440,232,820 2,662,704,274

eXPenSeS

Costofsalesandservices 2,776,338,879 2,911,316,722 892,342,772 726,003,113

Costoforganizingconcertsandshows 470,861,074 373,372,716 - -

Sellingandadministrativeexpenses 1,351,042,004 1,320,050,943 262,020,430 193,363,266

Shareoflossfrominvestmentsforusing

theequitymethod 60,136,839 11,567,036 - -

Directors’remuneration 15 15,336,000 12,312,000 15,336,000 12,312,000

Total expenses 4,673,714,796 4,628,619,417 1,169,699,202 931,678,379

Profit before interest and income Tax expenses 3,294,370,963 2,322,535,131 3,270,533,618 1,731,025,895

interest expenses 798,427 179,108 - -

income Tax expenses 23 983,679,169 659,974,834 165,622,167 110,920,589

Profit after income Tax 2,309,893,367 1,662,381,189 3,104,911,451 1,620,105,306

net Profit of Minority interest (57,966,027) (19,646,824) - -

net Profit 2,251,927,340 1,642,734,365 3,104,911,451 1,620,105,306

Basic earnings Per Share 4.14

Netprofit 1.13 0.82 1.55 0.81

Issuedandpaid-up2,000,000,000commonstocks

Unit:Baht

ConSolidaTed


notes 2007 2006 2007

2006 (reSTaTed)


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Statements of Changes in Shareholders’ EquityBeC World PuBliC CoMPany liMiTed and SuBSidiarieSFORThEYEARSENDEDDECEMBER31,2007AND2006


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,213

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3,16

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0,00

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01,

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(20,

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384)

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239

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02,

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3,10

4,91

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1

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4,91

1,45

1

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iden

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ote

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72,

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320

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01,

104,

911,

451

-

4,47

1,63

5,82

4

Uni

t:B

aht

Statements of Changes in Shareholders’ Equity (Cont.)BeC World PuBliC CoMPany liMiTed and SuBSidiarieSFORThEYEARSENDEDDECEMBER31,2007AND2006

Not

est

oth

efin

anci

als

tate

men

tsf

orm

an

inte

gral

par

tof

the

ses

tate

men

ts.



Statements of Cash Flows

BeC World PuBliC CoMPany liMiTed and SuBSidiarieSFORThEYEARSENDEDDECEMBER31,2007AND2006

CaSh FloWS FroM oPeraTinG aCTiViTieS

NetProfit 2,251,927,340 1,642,734,365 3,104,911,451 1,620,105,306

ADJUSTMENTSTORECONCILENETPROFITTO

NETCAShPROVIDEDFROM(USEDIN)OPERATIONS

Depreciation 231,638,987 215,899,102 29,417,436 29,382,490

Amortizationofrighttouseproperty 100,305,965 87,275,826 - -

Amortizationofpicturesrental,plays,

pictureproductsandcopyrightcharges 1,206,222,886 1,304,047,040 837,728,131 666,577,413

Amortizationofgoodwill 5,095,552 2,287,493 - -

Amortizationofexpenses 4,267,906 13,323,216 - -

Baddebts 300,000 - - -

Increase(decrease)indoubtfuldebt

-Accountsreceivable (14,078,607) 12,326,532 - -

-Short-termloanstorelatedparties - - 1,925,464 (5,063,177)

Unrealized(gain)lossoninvestments

inOpen-endFund 793,666 (1,233,871) (615) 183

(Gain)lossonassetsdisposal 1,617,675 (6,589,477) (69,491) (734,572)

Gainonexchangerates (220,985) (228,947) (391,373) (802,819)

Dividendincome - - (2,809,626,808) (1,326,339,960)

Lossonimpairmentofinvestments

insubsidiariesandassociates - - 63,445,570 13,370,269

Gainoninvestmentdisposalinsubsidiary (26,278,748) - - -

(Gain)lossoninvestmentdisposalinassociate (353,461) 9,200,000 - -

Lossonexchangeofinvestmentsinassociate - 2,728,562 - -

Shareofprofitfrominvestmentsforusing

theequitymethod - (15,201,241) - -

Shareoflossfrominvestmentsforusing

theequitymethod 60,136,839 11,567,036 - -

Netprofitofminorityinterest 57,966,027 19,646,824 - -

Profitfromoperationbeforechangesin

operatingassetsandliabilitiesitems 3,879,341,042 3,297,782,460 1,227,339,765 996,495,133

Unit:Baht

ConSolidaTed


2007 2006 2007

2006 (reSTaTed)



Statements of Cash Flows (Cont.)


CaSh FloWS FroM oPeraTinG aCTiViTieS

(ConTinued)

(INCREASE)DECREASEINOPERATINGASSETSITEMS

InvestmentsinOpen-endFund (292,867,868) 206,947,132 (286,800,000) 207,197,162

Tradeaccountsreceivable (66,633,863) 19,529,834 (154,115,775) (57,897,318)

Inventories 133,456 (18,412) - -

Othercurrentassets 63,623,118 (69,051,434) (3,543,172) (14,233,966)

Depositonpicturescopyrightcharges (15,204,573) 9,355,426 - 2,453,858

Prepaidplaysproduction 20,180,000 27,362,000 15,180,000 (22,000,000)

Othernon-currentassets (20,049,649) 2,423,889 (1,673,502) (62,960)

INCREASE(DECREASE)INOPERATINGLIABILITIESITEMS

Tradeaccountspayable 149,748,528 (92,342,117) 135,585,480 (156,917,230)

Corporateincometaxpayable 227,574,177 116,877,746 19,803,824 22,366,056

Othercurrentliabilities 78,116,223 45,297,752 14,079,663 (1,011,833)

neT CaSh ProVided FroM oPeraTinG aCTiViTieS 4,023,960,591 3,564,164,276 965,856,283 976,388,902

CaSh FloWS FroM inVeSTinG aCTiViTieS

(Increase)decreaseinfixeddepositsatbank 407,486,250 (648,320,889) (160,666,474) (40,168,164)

(Increase)decreaseinfixeddepositwithobligation (6,106,211) 5,239,436 - -

Proceedsfrominvestmentsdisposalinsubsidiary 31,200,000 - - -

Purchaseofinvestmentsinsubsidiary (163,180) - - -

Proceedsfromdividendincome 7,653,250 12,752,480 2,809,626,808 1,326,339,960

Increaseinshort-termloanstorelatedparties - (22,330,500) (33,200,000) (87,000,000)

Settlementfromshort-termloanstorelatedparties 10,758,030 15,000,000 214,760,209 202,054,839

Proceedsfrominvestmentsdisposalinassociate 1,199,700 20,800,000 - -

Purchaseoffixedassets (85,647,591) (182,463,516) (464,542) (727,549)

Proceedsfromfixedassetsdisposal 3,254,687 7,525,678 70,281 734,579

Increaseinrighttouseproperty (43,619,436) (126,223,313) - -

Proceedsfromreturnrighttouseproperty - 204,857 - -

Increaseinpicturesrental,pictureproducts,

playsandcopyrightcharges (1,274,881,535) (1,104,621,190) (1,054,616,920) (793,992,732)

Proceedsfromplaysdisposal - - 145,899,130 105,505,150

neT CaSh ProVided FroM (uSed in)

inVeSTinG aCTiViTieS (948,866,036) (2,022,436,957) 1,921,408,492 712,746,083

Unit:Baht

ConSolidaTed


2007 2006 2007

2006 (reSTaTed)



Statements of Cash Flows (Cont.)


CaSh FloWS FroM FinanCinG aCTiViTieS

Decreaseinbankoverdraftsand

short-termloansfromfinancialinstitutions - (39,795) - -

Dividendpayment (1,800,000,000) (1,300,000,000) (1,800,000,000) (1,300,000,000)

Subsidiary’sdividendpaidtominorityinterest (68,026,481) (10,412,550) - -

Increaseinminorityinterest - 2,450,070 - -

neT CaSh uSed in FinanCinG aCTiViTieS (1,868,026,481) (1,308,002,275) (1,800,000,000) (1,300,000,000)

neT inCreaSe in CaSh and CaSh eQuiValenTS 1,207,068,074 233,725,044 1,087,264,775 389,134,985

CaSh and CaSh eQuiValenTS aS aT January 1, 1,994,033,576 1,760,308,532 766,097,185 376,962,200

CaSh and CaSh eQuiValenTS aS aT deCeMBer 31, 3,201,101,650 1,994,033,576 1,853,361,960 766,097,185

addiTional diSCloSure iTeMS

To CaSh FloWS STaTeMenTS :

CAShPAIDDURINGThEYEARSFOR:

Interestexpenses 672,617 23,252 - -

Incometaxexpenses 761,992,348 558,504,718 145,818,343 88,554,533

NON-CAShITEMSCONSISTOF

Transferredinterestreceivableto

short-termloanstorelatedparties - - 9,292,367 4,872,884

Increaseinfixedassetsfromassetspayable 72,017,794 4,624,585 - -

Increaseincopyrightfromsettlement

byotherreceivables - 10,613,799 - -

Transferredpremiumoncommonstocks

tooffsetthedeficits(Note18) 1,369,774,213 - 1,369,774,213 -

Transferredlegalreservetooffsetthe

deficits(Note18) 200,000,000 - 200,000,000 -

Appropriatedforlegalreserve(Note17) 200,000,000 - 200,000,000 -

Currencytranslationdifferences 863,860 2,529,790 - -

Decreaseinminorityinterestfromcurrency

translationdifferences 575,907 1,686,529 - -

Decreaseinretainedearningsfromwrite-off

treasurycommonstocksofassociate(Note10) 20,975,384 - - -

Unit:Baht

ConSolidaTed


2007 2006 2007

2006 (reSTaTed)


Notes to the Financial Statements

1. TyPe oF BuSineSS 1.1 General information

1.2 Joint operation information

1.2.1 Asubsidiaryhasmadeanagreementfor jointoperationofcolorTVtransmission

withtheMassCommunicationOrganizationofThailand(MCOT)datedApril28,1978asamendedthefirst

timeonSeptember13,1982,thesecondtimeonJuly16,1987andthethirdtimeonMay2,1989.The

subsidiaryisgrantedtherightforjointoperationofChannel3colorThaiTVstation’stransmissionuntil

March 25, 2020. All property created or procured for the operation under this agreement shall be

transferredtotheMCOTonthedatethesubsidiarycreatesorprocures.Thesubsidiaryhastherightto

usesuchproperty.

Undertheaboveagreement,thesubsidiaryhastopayannualcompensationtotheMass

CommunicationOrganizationofThailandasspecifiedintheagreement.

1.2.2 Asubsidiaryhasmadeanagreement to leaseair time foroperatingprogramme

and advertisement with the Mass Communication Organization of Thailand dated January 25, 1990

asamendedonSeptember22,1994.The subsidiary isgranted the right tooperateprogrammeand

advertisethroughanMCOTFMradiostation,at105.5MhfrequencyinBangkokuntilJanuary31,2020.

TobeconsistentwiththetermoftheagreementforjointoperationofcolorTVtransmissionasamended,

itisagreedthatiftheagreementforjointoperationofcolorTVtransmissionisterminatedbeforeitsterm

forwhateverreason,thisagreementshallbedeemedterminated.

Under theaboveagreement, the subsidiaryhas topay themonthlyair timeandother

expensestotheMCOTasspecifiedintheagreement.

1.2.3 InAugust2004,theMassCommunicationOrganizationofThailand(MCOT)was

dissolvedandMCOTPublicCompanyLimitedwassetuptotakeoverall theexistingbusiness, rights,

liabilities,obligationsandassetsoftheMCOT.

Legalstatus AjuristicpersonestablishedunderThailawand

listedontheStockExchangeofThailand.

Companylocation 2nd,3rd,8th,9thand30th-34thFloor,atMaleenontTower,

3199RamaIVRoad,KwaengKlongtan,KhetKlongtoey,

Bangkok10110,Thailand.

Typeofbusiness (1) Providing,producingTVprogrammesandsellingairtime.

(2)holdingsharesinsubsidiariesandassociateswhichoperate

businessasstatedinNote10tothefinancialstatements.

Numberofemployeesasat (1) Includingsubsidiaries1,748personsand

December31,2007and2006 1,838persons,respectively.

(2) TheCompanyonly60personsand58persons,respectively.

Employeeexpensesfor (1) IncludingsubsidiariesBaht946millionand

theyears2007and2006 Baht894million,respectively.

(2) TheCompanyonlyBaht75millionand

Baht68million,respectively.

BeC World PuBliC CoMPany liMiTed and SuBSidiarieSDECEMBER31,2007AND2006


2. BaSiS For PreParaTion oF FinanCial STaTeMenTS TheconsolidatedandtheseparatefinancialstatementsarepreparedinaccordancewithThai

AccountingStandardsundertheAccountingAct,B.E.2543(2000)includingtheAccountingProfession

Act,B.E.2547(2004)exceptthefinancialstatementsofThemeSTARLimited,anassociateofBEC-TERO

EntertainmentPublicCompanyLimited,arepreparedinaccordancewiththeAccountingStandardsofthe

UnitedStates.Andforpreparationofconsolidatedfinancialstatements,theyareadjustedfollowingthe

sameaccountingpolicyoftheparentcompany.

2.1 TheconsolidatedfinancialstatementsincludedthefinancialstatementsofBECWorldPublic

CompanyLimitedwithitssubsidiaries,theequityofassociatedcompaniesandtheCompany’sportionin

jointventureasfollows:

Legalstatus AjuristicpersonestablishedunderThailawand

listedontheStockExchangeofThailand.

Companylocation 2nd,3rd,8th,9thand30th-34thFloor,atMaleenontTower,

3199RamaIVRoad,KwaengKlongtan,KhetKlongtoey,

Bangkok10110,Thailand.

Typeofbusiness (1) Providing,producingTVprogrammesandsellingairtime.

(2)holdingsharesinsubsidiariesandassociateswhichoperate

businessasstatedinNote10tothefinancialstatements.

Numberofemployeesasat (1) Includingsubsidiaries1,748personsand

December31,2007and2006 1,838persons,respectively.

(2) TheCompanyonly60personsand58persons,respectively.

Employeeexpensesfor (1) IncludingsubsidiariesBaht946millionand

theyears2007and2006 Baht894million,respectively.

(2) TheCompanyonlyBaht75millionand

Baht68million,respectively.

SuBSidiarieS direCTly held By The CoMPany

1.ThEBANGKOKENTERTAINMENTCO.,LTD. 99.99 99.99 ThAILAND

2.RUNGSIROJVANITCO.,LTD. 99.99 99.99 ThAILAND

3.NEWWORLDPRODUCTIONCO.,LTD. 99.99 99.99 ThAILAND

4.BECBROADCASTINGCENTERCO.,LTD. 99.99 99.99 ThAILAND

5.YOU&ICORPORATIONCO.,LTD. 99.99 99.99 ThAILAND

6.BECASSETCO.,LTD. 99.99 99.99 ThAILAND

7.BECSTUDIOCO.,LTD. 99.99 99.99 ThAILAND

8.BECINTERNATIONALDISTRIBUTIONCO.,LTD. 99.99 99.99 ThAILAND

9.BECNEWSBUREAUCO.,LTD. 99.99 99.99 ThAILAND

10.BANGKOKTELEVISIONCO.,LTD. 99.99 99.99 ThAILAND

11.BANGKOKSATELLITE&TELECOMMUNICATIONCO.,LTD. 99.99 99.99 ThAILAND

12.BECITSOLUTIONCO.,LTD. 99.99 99.99 ThAILAND

13.SATELLITETVBROADCASTINGCO.,LTD. 99.99 99.99 ThAILAND

14.BEC-TEROENTERTAINMENTPUBLICCO.,LTD. 59.99 59.99 ThAILAND

15.BECICORPORATIONLTD. 99.99 99.99 ThAILAND

16.BECMULTIMEDIACO.,LTD. 99.99 99.99 ThAILAND

SuBSidiary held By BeC inTernaTional

diSTriBuTion Co., lTd.

1.TVB3NETWORKCO.,LTD. 59.99 59.99 ThAILAND

ParTiCularS

% holdinG eSTaBliShed

2007 2006 in

Notes to the Financial Statements (Continued)


2.2 Inter-companybalancesandtransactionsoftheCompany,subsidiariesandjointventure

havebeeneliminatedfromtheconsolidatedfinancialstatements.

2.3 Thedifferencebetweenbookvalueof subsidiariesandcostof investmentswas shown

undergoodwill.

ParTiCularS

% holdinG eSTaBliShed

2007 2006 in

SuBSidiarieS held By BeC-Tero

enTerTainMenT PuBliC CoMPany liMiTed

1.ThAITICKETMAJORCO.,LTD. 59.99 99.99 ThAILAND

(Formerly:ThAITICKETMASTER.COMCO.,LTD.)

2.BEC-TEROEXhIBITIONSCO.,LTD. 99.99 51.00 ThAILAND

3.BEC-TEROARSENALCO.,LTD. 99.99 99.99 ThAILAND

SuBSidiarieS held By BeCi CorPoraTion lTd.

1.MOBI(ThAI)CO.,LTD. 59.99 59.99 ThAILAND

2.DIGITALFACTORYCO.,LTD. 50.99 50.99 ThAILAND

3.ThAIAUDIOTEXSERVICELTD. 49.99 49.99 ThAILAND

aSSoCiaTeS held By BeC-Tero


1.VIRGINBEC-TERORADIO(ThAILAND)LTD. 51.00 51.00 ThAILAND

2.MOBI(ThAI)CO.,LTD. 40.00 40.00 ThAILAND

3.SMBTPUBLIShING(ThAILAND)CO.,LTD. - 39.99 ThAILAND

4.ThemeSTARLtd. 40.00 40.00 BritishVirgin

Islands

JoinT VenTure inVeSTed By BeC-Tero


1.BEC-TEROSCENARIOJOINTVENTURE 50.00 - ThAILAND

aSSoCiaTe held By The CoMPany

1.CVDENTERTAINMENTPUBLICCO.,LTD. 19.52 19.52 ThAILAND



3. ChanGeS in aCCounTinG PoliCy In 2007, the Company has changed its accounting policy for investments in subsidiary and

associatedcompanieswhichispresentedintheseparatefinancialstatementsfromtheequitymethod

to the cost method following the Accounting Standard No. 44 (Revised 2007) “Consolidated and

the Separate Financial Statements” and Accounting Standard No. 45 (Revised 2007) “Accounting for

InvestmentsinAssociates”.Inchanginginsuchaccountingpolicy,theCompanyhastorestatetheprevious

periods separate financial statements shown herein as comparison, as if the Company has recorded

such investmentsbythecostmethodfollowingthenewaccountingpolicyall through.Therefore,the

informationoftheseparatefinancialstatementsfortheyearendedDecember31,2006shownhereinas

comparisonwastheinformationpreparedunderthenewaccountingpolicy.Theeffectofthechangein

accountingpolicyfortheseparatefinancialstatementsisasfollows:

Cumulativeeffectofthechangeinaccountingpolicyinthepastwhichhastobedecreasingly

adjustedtothebeginningretainedearningsfortheseparatefinancialstatementsasatJanuary1,2007

amountofBaht2,905.55millionandasatJanuary1,2006amountofBaht2,882.92million.

Balance sheet as at december 31, 2006 :

Decreaseininvestmentsinsubsidiaries (2,780,294,218)

Allowanceforimpairmentofinvestmentsinsubsidiaries (85,200,000)

Increaseininvestmentsinassociates 144,077,640

Allowanceforimpairmentofinvestmentsinassociates (144,077,640)

Decreaseinshort-termloanstorelatedparties

fromsettingupallowancefordoubtfulaccounts (83,274,811)

Decreaseininvestmentdeficiency 64,197,163

Decreaseintreasurycommonstocksofassociate (20,975,384)

Decreaseinendingretainedearnings (2,905,547,250)

Statement of income for the year ended december 31, 2006 :

Decreaseinshareofprofitfrominvestmentsforusingtheequitymethod (1,354,773,671)

Decreaseinshareoflossfrominvestmentsforusingtheequitymethod 14,111,744

Increaseindividendincome 1,326,339,960

Decreaseinsellingandadministrativeexpenses

fromdoubtfulaccountsdecrease 5,063,177

Increaseinsellingandadministrativeexpenses

fromimpairmentofinvestmentsincrease (13,370,269)

Decreaseinnetprofit (22,629,059)

Decreaseinearningspershare (0.01)

Unit:Baht



4. SuMMary oF SiGniFiCanT aCCounTinG PoliCieS 4.1 revenues and expenses recognition

Revenuesandexpensesarerecordedonanaccrualbasis.

Incomefromadvertisingisrecordedasrevenuewhenevertheserviceisbroadcastingvia

televisionandradio.

Incomefrompicturesandplaysproductsarerecordedasrevenuesuponthetransmission

datesorsales.

Incomefromorganizingconcertandliveshowsarerecordedaftertheactionperformed.

4.2 investments in open-end Fund

InvestmentsinOpen-endFundareconsideredastradingsecurities,statedatfairvalue.Cost

ofdisposedinvestmentsduringtheyeariscalculatedbytheweightedaveragemethod.

4.3 Trade accounts receivable and allowance for doubtful accounts

Tradeaccountsreceivablearestatedatnetrealizablevalue.TheCompanyprovidesallowance

fordoubtfulaccountsbyestimatingfromtheuncollectibleaccountsreceivablebydependingonthepast

experienceindebtcollectionandthecurrentstatusofoutstandingdebtorsatthebalancesheetdate.

4.4 inventories

Inventoriesforsalearestatedatcostornetrealizablevalue,whicheveristhelower.Costis

calculatedbytheweightedaveragemethod.

Programmeswhicharenotyettransmittedarestatedatcostandwillberecognizedascost

afterthetransmission.

TheCompanyprovidesallowancefordiminutioninvalueofinventoriesfortheobsolete,

deterioratedinventoriesandexpectedtobeunsaleablebyconsideringfromtheconditionofinventories.

4.5 Concerts and television programmes under process

Concertsunderprocess areamortizedtocostofproductionafterproportion

ofshowperformed.

Televisionprogrammes underprocessarestatedatcostofproductionunderprocessing

andproducing,whichwillberecordedtocostwheneverthe

copyrightsaretransferredandsubmittedoraftertransmission.

4.6 investments in subsidiaries, associates and joint venture

SubsidiariesarecompaniesinwhichthegroupoftheCompanyhaspowertogovernthe

financial and operating policies. The Company included the subsidiaries in the consolidated financial

statementssincethedatethatthegroupCompanyhaspowertogovernuntilthedateofthepowerto

governisended.Theinvestmentsinsubsidiariesfortheseparatefinancialstatementsarepresentedbythe

costmethodnetaftertheallowanceforimpairment.

AssociatesarecompaniesinwhichthegroupoftheCompanyhassignificantinfluenceand

powertoparticipateindeterminingthefinancialandoperatingpoliciesoftheassociatesbutnotupto

thelevelofgoverningsuchpolicies.Investmentsinassociatesshownintheconsolidationarepresented

by theequitymethod.ThegroupCompanywill record the investments inassociatesatzeroandwill

notrecognizetheshareoflossanymore,whenevertheshareoflossinthoseassociateshasinvestment

deficiency.Theinvestmentsinassociatesfortheseparatefinancialstatementsarepresentedbythecost

methodnetaftertheallowanceforimpairment.



Jointventureareeconomicoperatingactivitiesofpersonorparty fromtwopersonsor

enterprisesupbyspecifyingofmutualcontrolasagreedinthecontract.Theinvestmentsinjointventure

for the separate financial statements are presented by the cost method net after the allowance for

impairment.

4.7 investments in other companies

InvestmentsinothercompaniesarethosecompaniesinwhichthegroupoftheCompany

hasshareholdingbuthasnopowertogovernorparticipateinsettingupanypolicy.Investmentsinother

companiesarestatedatcost.

4.8 investments in land and structures

Investmentsinlandandstructuresarestatedatcost.

4.9 Property, plant and equipment

Property,plantandequipmentarestatedatcost.Depreciationoffixedassetsiscalculated

by the straight-linemethodbasedon the estimatedusefullives of assets net after the allowance for

impairment,asfollows:

4.10 deferred right to use property

Deferredright to use property is amortized to expenses bytheremaining periods of

concessionorbythestraight-linemethodbasedontheestimatedusefullivesofthefollowingassets:

ParTiCularS uSeFul liVeS (yearS)

Building 20

Officefurnitureandequipment 3-10

Utilitiessystem 5

Televisionandradiooperatingequipment 5

Leaseholdimprovement 5

Motorvehicles 5-10

Processingandtoolsequipment 5

ParTiCularS uSeFul liVeS (yearS)

Building 5-20ortheremainingperiodsofconcession

Buildingimprovement 5

Otherstructures 5

Colortelevisionandradiotransmitter 10ortheremainingperiodsofconcession

Colortelevisionandradioequipment 5-10

Televisionrelayvehicles 5-10

Networkstationproperty 5ortheremainingperiodsofconcession



4.11 deferred pictures rental, picture products, plays and copyright charges

Picturesrental areamortizedtoexpensesbythestraight-linemethodaccordingtothe

periodspecifiedintheagreementorportionofpicturestransmission

asspecifiedintheagreementoraccordingtotherightasobtainedfor

transmission.

Pictureproducts areamortizedtocostbytheratioofrevenuesreceivedbasedonthe

estimatedtotalrevenues.

Playscharges areamortizedtoexpensesat20%perannumsincetheacquisitionand

willbeamortizedtoexpensesuntilthebalanceisequalto20%ofinitial

costwhenthewholestoryistransmittedforthefirsttime.Afterthat,

thestraight-linemethodwillbeappliedtoamortizewithin5years.

Copyrightcharges areamortized toexpensesby thestraight-linemethodaccording to

theperiodspecifiedintheagreement.

4.12 Goodwill

Goodwillisamortizedbythestraight-linemethodin5years.

4.13 deferred expenses

Deferredexpensesareamortizedbythestraight-linemethodin5yearsoraccordingtothe

periodspecifiedintheagreement.

4.14 Basic earnings per share

Basicearningspershareiscalculatedbydividingtheannualnetprofitbythenumberof

issuedandpaid-upcommonstocksattheendoftheyear.

4.15 Foreign currency transactions

Foreign currency transactions are recorded in Baht at the rate ruling on the date of

transaction.Outstandingforeigncurrencyassetsandliabilitiesatthebalancesheetdateareconverted

toBahtattheratesofexchangeineffectatthatdate.Gainsorlossesonexchangeratesarecreditedor

chargedtooperationsduringtheyear.

Forpreparationoftheconsolidatedfinancialstatements,thefinancialstatementsofthe

companiesdenominatedinforeigncurrenciesareconvertedtoBahtbasedonthefollowingexchange

rates:

- Assetsand liabilitiesweretranslatedbytheaverageexchangeratesattheendofthe

year.

- Shareholders’equityanddepreciationweretranslatedbytheexchangeratesineffectat

thetransactiondates.

- Revenuesandexpensesweretranslatedbytheaverageexchangeratesfortheyear.

Thedifferencefromtranslationoffinancial statements in foreigncurrencieswasshown

underShareholders’Equity.

4.16 Barter income

Barterincomearosefromtheexchangeofdifferentgoodsorserviceforothergoodsor

service,ofwhichisrecognizedatfairvalueofthosegoodsorserviceinexchange.

4.17 Cash and cash equivalents

Forthepurposeofpreparationofcashflowsstatements,cashandcashequivalentsare

cashonhand,fixeddepositatthefinancialinstitutionsduenotmorethan3monthswithnoobligation.



4.18 employee benefits

TheCompanyprovidesaprovidentfund,whichisadefinedcontributionplan,theassetsof

whichareheldinaseparatetrustfundandmanagedbytheexternalfundManager.Suchprovidentfund

iscontributedbypaymentsfromemployeesandtheCompany.Contributionstotheprovidentfundare

chargedtothestatementsofincomeintheincurredyear.however,theCompanydoesnotprovidethe

employmentbenefitspayabletoemployeesundertheThaiLabourLaw.

4.19 use of accounting estimates

Inpreparationoffinancialstatementsinaccordancewithgenerallyacceptedaccounting

principlesrequiresmanagementtomakevariousestimatesandassumptionsthatwillaffectthereported

amountsofrevenues,expenses,assetsand liabilities includingthedisclosureofcontingentassetsand

liabilities.Actualresultsmaydifferfromthoseestimates.

5. inVeSTMenTS in oPen-end Fund

InvestmentsinOpen-endFundaretradingsecurities.Thedifferencebetweenfairvalueandcost

isshownasallowanceforinvestmentvalueadjustmentinOpen-endFund.Gains(losses)oninvestments

inOpen-endFundincurredduringtheyearweredulypresentedinthestatementsofincomeasfollows:

ConSolidaTed SeParaTe ParTiCularS FinanCial STaTeMenTS

2007 2006 2007 2006

InvestmentsinOpen-endFund 331,491,281 36,899,242 286,810,037 10,037

Allowanceforadjustment

investmentvalueinOpen-endFund (792,921) 1,724,916 790 175

NetInvestmentsinOpen-endFund 330,698,360 38,624,158 286,810,827 10,212

Unit:Baht


2007 2006 2007 2006

Unrealizedgain(loss)oninvestments

inOpen-endFund (793,666) 1,233,871 615 (183)

Realizedgainondisposalof

investmentsinOpen-endFund 610,667 607,544 - 357,513

Gains(losses)oninvestments

inOpen-endFund (182,999) 1,841,415 615 357,330

Unit:Baht



6. Trade aCCounTS reCeiVaBle TheCompanyhas tradeaccounts receivable thatcanbeclassifiedaccordingto theagingof

outstandingbalancesasfollows:

The subsidiaries did not set up any allowance for doubtful trade accounts receivable of the

governmentsectorintheconsolidatedfinancialstatements,duetotheyareexpectedtobecollectible.

7. ShorT-TerM loanS To relaTed ParTieS

ParTiCularS ConSolidaTed SeParaTe inTereST raTe (%) FinanCial STaTeMenTS

2007 2006 2007 2006 2007 2006 (reSTaTed)

CoMPany loanS To

- SuBSidiarieS

1.BECBROADCASTINGCENTERCO.,LTD.

Beginningbalances - - 190,000,000 265,000,000

Settlementduringtheyear - - - (75,000,000)

Endingbalances - - 190,000,000 190,000,000 5.00-5.75 2.75-5.75

ConSolidaTed SeParaTe aGinG FinanCial STaTeMenTS

2007 2006 2007 2006

Tradeaccountsreceivable

Current 389,218,145 423,807,875 - 1,060,000

Overduewithin3months 307,639,658 162,017,241 1,200,000 -

Over3to6months 17,120,881 43,460,903 - -

Over6to12months 1,377,666 3,857,691 - -

Over12months 58,277,900 64,512,550 - -

Chequereturned 7,398,795 8,151,645 - -

Total 781,033,045 705,807,905 1,200,000 1,060,000

Less Allowancefordoubtful

accounts (50,467,820) (64,546,427) - -

Tradeaccountsreceivable-net 730,565,225 641,261,478 1,200,000 1,060,000

Tradeaccountsreceivableof

relatedparties 15,533,777 24,560,394 495,507,694 341,531,919


accounts (49,282) (49,282) - -


relatedparties-net 15,484,495 24,511,112 495,507,694 341,531,919


Unit:Baht

Unit:Baht



ConSolidaTed SeParaTe aGinG FinanCial STaTeMenTS

2007 2006 2007 2006

Tradeaccountsreceivable

Current 389,218,145 423,807,875 - 1,060,000

Overduewithin3months 307,639,658 162,017,241 1,200,000 -

Over3to6months 17,120,881 43,460,903 - -

Over6to12months 1,377,666 3,857,691 - -

Over12months 58,277,900 64,512,550 - -

Chequereturned 7,398,795 8,151,645 - -

Total 781,033,045 705,807,905 1,200,000 1,060,000


accounts (50,467,820) (64,546,427) - -

Tradeaccountsreceivable-net 730,565,225 641,261,478 1,200,000 1,060,000


relatedparties 15,533,777 24,560,394 495,507,694 341,531,919


accounts (49,282) (49,282) - -


relatedparties-net 15,484,495 24,511,112 495,507,694 341,531,919


Unit:Baht


2007 2006 2007 2006 2007 2006 (reSTaTed)

Unit:Baht

2.YOU&ICORPORATIONCO.,LTD.


Compoundinterest - - 3,783,331 2,624,890

Settlementduringtheyears - - (5,017,693) (8,757,221)

Endingbalances - - 66,047,018 67,281,380 4.00-6.25 2.75-6.25

LessAllowancefordoubtfulaccounts - - (66,047,018) (67,281,380)

Totalshort-termloans-net - - - -

3.BECASSETCO.,LTD.


Increaseduringtheyear - - - 86,000,000

Compoundinterest - - 5,349,210 2,178,840


Endingbalances - - 79,262,585 150,565,980 4.00-6.25 2.75-6.25

4.BECINTERNATIONAL

DISTRIBUTIONCO.,LTD.


Increaseduringtheyear - - - 200,000

Compoundinterest - - 159,826 69,154

Endingbalances - - 2,753,257 2,593,431 4.00-6.25 2.75-6.25



5.TVB3NETWORKCO.,LTD.


Increaseduringtheyears - - 3,000,000 800,000

Endingbalances - - 16,400,000 13,400,000 4.25-6.50 3.00-6.50



6.BEC-TEROENTERTAINMENT

PUBLICCO.,LTD.



Endingbalances - - 60,000,000 162,889,911 5.87-6.67 5.50-6.67




2007 2006 2007 2006 2007 2006 (reSTaTed)

Unit:Baht

7.BECICORPORATIONLTD.

Beginningbalance - - - -

Increaseduringtheyear - - 30,000,000 -

Settlementduringtheyear - - (30,000,000) -

Endingbalance - - - - 4.00 -

8.BANGKOKSATELLITE&

TELECOMUNICATIONCO.,LTD.

Beginningbalance - - - -

Increaseduringtheyear 200,000

Settlementduringtheyear - - (200,000) -

Endingbalance - - - - 4.00 -

ToTal ShorT-TerM loanS To

SuBSidiarieS-neT - - 329,262,585 503,455,891

SuBSidiary loanS To

- aSSoCiaTe held By SuBSidiary

CoMPany

1.VIRGINBEC-TERORADIO(ThAILAND)LTD.

Beginningbalances 34,000,000 49,000,000 - -

Settlementduringtheyear - (15,000,000) - -

Endingbalances 34,000,000 34,000,000 - - 10.92-11.75 10.30-11.75

2.ThemeSTARLimited

Beginningbalance 21,516,060 - - -

Increaseduringtheyear - 22,330,500 - -

Settlementduringtheyear (10,758,030) - - -

Lossfromexchangerate (692,460) (814,440) - -

Endingbalances 10,065,570 21,516,060 - - 8.50 8.50

ToTal loanS To aSSoCiaTe held

By SuBSidiary CoMPany 44,065,570 55,516,060 - -

ToTal ShorT-TerM loanS To

relaTed ParTieS 44,065,570 55,516,060 329,262,585 503,455,891



8. oTher ShorT-TerM loanS

9. inVenTorieS

10. inVeSTMenTS in SuBSidiarieS and aSSoCiaTeS


2007 2006 2007 2006 2007 2006 (reSTaTed)

FIVESTARPRODUCTIONCO.,LTD.

Beginningbalance - 11,000,000 - -

Accruedinterestreceivable - 2,795,068 - -

Endingbalance - 13,795,068 - - - -

LessWrite-offduringtheyear - (13,795,068) - -

Othershort-termloans-net - - - -

Unit:Baht

ParTiCularS % holdinG CoST MeThod eQuiTy MeThod

2007 2006 2007 2006 2007 2006 (reSTaTed)

SuBSidiarieS

1.ThEBANGKOK

ENTERTAINMENTCO.,LTD. 99.99 99.99 299,999,200 299,999,200

2.RUNGSIROJVANITCO.,LTD. 99.99 99.99 34,999,510 34,999,510

3.NEWWORLDPRODUCTIONCO.,LTD. 99.99 99.99 59,999,160 59,999,160

4.BECBROADCASTINGCENTERCO.,LTD. 99.99 99.99 42,996,990 42,996,990

5.YOU&ICORPORATIONCO.,LTD. 99.99 99.99 34,999,300 34,999,300

6.BECASSETCO.,LTD. 99.99 99.99 29,999,930 29,999,930

7.BECSTUDIOCO.,LTD. 99.99 99.99 4,999,930 4,999,930

8.BECINTERNATIONAL

DISTRIBUTIONCO.,LTD. 99.99 99.99 4,999,930 4,999,930

9.BECNEWSBUREAUCO.,LTD. 99.99 99.99 4,999,930 4,999,930

Unit:Baht


2007 2006 2007 2006

Finishedgoods 263,369 390,991 - -

Programmesnotyetontheair 35,883 46,115 - -

Othergoods 12,448 8,050 - -

Total 311,700 445,156 - -

Unit:Baht



ParTiCularS % holdinG CoST MeThod eQuiTy MeThod

2007 2006 2007 2006 2007 2006 (reSTaTed)

Unit:Baht

10.BANGKOKTELEVISIONCO.,LTD. 99.99 99.99 4,999,930 4,999,930

11.BANGKOKSATELLITE&

TELECOMMUNICATIONCO.,LTD. 99.99 99.99 24,999,930 24,999,930

12.BECITSOLUTIONCO.,LTD. 99.99 99.99 14,999,930 14,999,930

13.SATELLITETVBROADCASTINGCO.,LTD. 99.99 99.99 999,930 999,930


PUBLICCO.,LTD. 59.99 59.99 122,116,158 122,116,158

15.BECICORPORATIONLTD. 99.99 99.99 199,992,000 199,992,000

16.BECMULTIMEDIACO.,LTD. 99.99 99.99 49,998,000 49,998,000

INVESTMENTSINSUBSIDIARIES 936,099,758 936,099,758

LESSALLOWANCEFORIMPAIRMENT (141,913,230) (125,199,230)

ToTal inVeSTMenTS

in SuBSidiarieS-neT

(SeParaTe FinanCial

STaTeMenTS) 794,186,528 810,900,528

aSSoCiaTe

1.CVDENTERTAINMENTPUBLICCO.,LTD. 19.52 19.52 288,883,397 288,883,397 98,074,187 144,805,757


ToTal inVeSTMenTS

in SuBSidiarieS-neT

(SeParaTe FinanCial

STaTeMenTS) 98,074,187 144,805,757

aSSoCiaTeS held By

BeC-Tero enTerTainMenT

PuBliC CoMPany liMiTed

1.VIRGINBEC-TERORADIO

(ThAILAND)LTD. 51.00* 51.00* 25,479,930 25,479,930 17,177,655 30,703,303

2.SMBTPUBLIShING(ThAILAND)CO.,LTD. - 39.99 - 1,199,700 - 1,068,500

3.ThemeSTARLTD. 40.00 40.00 64,201,171 64,201,171 35,450,504 44,200,881

INVESTMENTSINASSOCIATEShELDBY

SUBSIDIARYCOMPANY 89,681,101 90,880,801


ToTal inVeSTMenTS in aSSoCiaTeS

held By SuBSidiary

CoMPany-neT 52,681,101 70,730,801

ToTal inVeSTMenTS in aSSoCiaTeS

(ConSolidaTed) 150,702,346 220,778,441

*computeequitybasedonrighttoreceivedividendandvoteonmeetingat49%



ThefinancialstatementsofCVDEntertainmentPublicCompanyLimitedwhichisanassociated

companyandthefinancialstatementsofVirginBEC-TERORadio(Thailand)Limitedwhichisanassociated

companyheldbyBEC-TEROEntertainmentPublicCompanyLimitedarebasedonthereportsofother

certifiedpublicaccountants.Investmentandtheequitywhicharerecordedontheconsolidatedandthe

separatefinancialstatementsareasfollows:

AsatDecember31,2007and2006,theCompany invested insharesofCVDEntertainment

PublicCompanyLimitedwhichislistedontheStockExchangeofThailandamountof6.33millionshares.

ThemarketvalueisequaltoBaht120.18millionandBaht94.24million,respectively.InMarch2004,

CVDEntertainmentPublicCompanyLimitedhaspurchasedtreasurycommonstocksfromshareholdersin

general,suchtreasurycommonstockshavetobesoldafter6monthsfromthecompletionofpurchase

datebutnotexceeding3years.TheCompanyhassoldsomeofCVDEntertainmentPublicCompany

Limited’sshareswhichresultedingainondisposalofinvestmentduetotherepurchasedpriceishigher

thanbookvalue.CVDEntertainmentPublicCompanyLimitedpresentedthepurchaseoftreasurycommon

stocksintheshareholders’equity.Therefore,theCompanyhaspresentedthetreasurycommonstocksof

itsassociateforthepriceoverbookvalueamountofBaht20.97millionintheCompany’sshareholders’

equity.however,CVDEntertainmentPublicCompanyLimiteddisposaloftreasurycommonstockshad

notbeenoccurredwithintimelimited.Asaconsequenceoftime,suchcompanyhaswritten-offtreasury

stockinMarch2007bydecreasingauthorizedsharecapitalandpaid-upcapitalandretainedearnings

whichresultedindecreasingtreasurycommonstocksofassociatedcompanyinretainedearningsofthe

Companyforthecurrentperiod.

Financial statements for 2007 and 2006 of ThemeSTAR Limited which are calculated the

investmentsforusingtheequitymethodbasedonfinancialstatementspreparedbythemanagement,

unauditedbytheauditor.Theconsolidatedfinancialstatementsincludedtheinvestmentsinsuchcompany

byequitymethodamountofBaht35.45million (includedcurrency translationdifferencesamountof

Baht5.66million)andBaht44.20million(includedcurrencytranslationdifferencesamountofBaht4.22

million),respectivelyandincludedshareoflossfrominvestmentsforusingtheequitymethodfor2007

and2006amountofBaht7.31millionandBaht7.51million,respectively.

ConSolidaTed SeParaTe

ParTiCularS

FinanCial STaTeMenTS

2007 2006 2007 2006 (reSTaTed)

Unit:MillionBaht

inVeSTMenTS

CVDENTERTAINMENTPUBLICCO.,LTD. 98.07 144.81 98.07 144.81

VIRGINBEC-TERORADIO(ThAILAND)LTD. 17.18 30.70 - -

Total 115.25 175.51 98.07 144.81

Share oF ProFiT (loSS) FroM inVeSTMenTS

For uSinG The eQuiTy MeThod

For The yearS ended deCeMBer 31

CVDENTERTAINMENTPUBLICCO.,LTD. (39.08) 7.98 (39.08) 7.98

VIRGINBEC-TERORADIO(ThAILAND)LTD. (13.52) 7.22 - -

Total (52.60) 15.20 (39.08) 7.98



InMay2007,BEC-TEROENTERTAINMENTPUBLICCOMPANYLIMITED,theCompany’ssubsidiary

hassignedJointVentureAgreementwithSCENARIOCOMPANYLIMITEDtosetupBEC-TEROSCENARIO

JointVenture,accountedforjointcapital50%amountofBaht20million.

InJune2007,BEC-TEROENTERTAINMENTPUBLICCOMPANYLIMITED,theCompany’ssubsidiary

hassolditsinvestmentsof400,000sharesinThAITICKETMASTER.COMCO.,LTD.amountofBaht31.20

million to MAJOR CINEPLEX GROUP PUBLIC CO., LTD. which resulted the decrease in shareholding

proportionto59.99%andrecognizedgainfromdisposaloninvestmentamountofBaht26.28million.

ThAITICKETMASTER.COMCO.,LTD.haschangedandregistered itsnewnametoThAITICKETMAJOR

CO.,LTD.

In January 2006, BEC-TERO ENTERTAINMENT PUBLIC COMPANY LIMITED, the Company’s

subsidiary has invested in 254,994 common stocks of BEC-TERO EXhIBITIONS COMPANY LIMITED

in the shareholding proportion of 51% amount of Baht 2.55 million. And in June 2007, BEC-TERO

ENTERTAINMENT PUBLIC COMPANY LIMITED, has increasingly invested in 50,000 common stocks of

BEC-TEROEXhIBITIONSCOMPANYLIMITEDbybuyingfromASIACONGRESSEVENTCO.,LTD.,which

istheminorityinterestamountofBaht0.03million,resultingintheincreaseinshareholdingproportion

to 61.00%. Later, in September 2007, BEC-TERO ENTERTAINMENT PUBLIC COMPANY LIMITED, has

increasinglyinvestedin195,000commonstocksofBEC-TEROEXhIBITIONSCOMPANYLIMITEDbybuying

fromPICO(ThAILAND)PUBLICCOMPANYLIMITEDwhichistheminorityinterestamountofBaht0.13

million,resultingintheincreaseinshareholdingproportionto99.99%

In February 2006, BEC-TERO ENTERTAINMENT PUBLIC COMPANY LIMITED, the Company’s

subsidiaryhasinvestedin3,599,992commonstocksofBEC-TEROARSENALCOMPANYLIMITED(called

andpaid-upatBaht1.25each)intheshareholdingproportion99.99%amountofBaht4.49million.Later

on,BEC-TEROARSENALCOMPANYLIMITEDcalledforadditionalsubscriptionBaht9million(calledfor

additionalsubscriptionatBaht2.50pershare).Thus,makingtheinvestmentinsuchcompanytobeBaht

13.50million.

Financial statementsasatDecember31,2006ofSMBTPUBLIShING (ThAILAND)CO., LTD.

whicharecalculatedtheinvestmentsforusingtheequitymethodbasedonfinancialstatementsprepared

by the management, unaudited by the auditor. The consolidated financial statements included the

investmentsinsuchcompanybyequitymethodamountofBaht1.07millionandincludingshareofloss

frominvestmentsforusingtheequitymethodfor2006amountofBaht0.11million.InDecember2007,

BEC-TEROENTERTAINMENTPUBLICCOMPANYLIMITED,theCompany’ssubsidiaryhassoldinvestment

ofSMBTPUBLIShING(ThAILAND)CO.,LTD.,amountofBaht1.20millionwhichrecognizedshareofloss

frominvestmentsforusingtheequitymethoduntilthedateofinvestmentdisposalamountofBaht0.56

millionwhichincurredgainfrominvestmentdisposalamountofBaht0.35million.

InMay2006,BEC-TEROENTERTAINMENTPUBLICCOMPANYLIMITED,theCompany’ssubsidiary

hasswappeditssharesinSONYMUSICBECTEROENTERTAINMENTCO.,LTD.,withthesharesinSONY

BMGMUSICENTERTAINMENT(ThAILAND)CO.,LTD.,whichrecognizedshareoflossfrominvestments

forusing theequitymethoduntil thedateof swapamountofBaht3.94millionwhich incurred loss

frominvestmentswappedamountofBaht2.73million.InNovember2006,BEC-TEROENTERTAINMENT

PUBLICCOMPANYLIMITED,hassoldinvestmentofSONYBMGMUSICENTERTAINMENT(ThAILAND)

CO.,LTD.,amountofBaht20.80millionandrecognizedlossfromdisposaloninvestmentamountofBaht

9.20million.



Unit:Baht

SuBSidiarieS

1.ThEBANGKOKENTERTAINMENT Operatingbusinessof Shareholders 300,000,000 300,000,000 1,499,996,000 499,998,667

CO.,LTD. TVandradiostations andco-directors

2.RUNGSIROJVANITCO.,LTD. Providing,producing Shareholders 5,000,000 5,000,000 599,991,600 449,993,700

TVprogrammesandsell andco-directors

airtimeforadvertising

3.NEWWORLDPRODUCTION Providing,producing Shareholders 5,000,000 5,000,000 399,994,400 349,995,100

CO.,LTD. TVprogrammesandsell andco-directors


4.BECBROADCASTINGCENTER ServicingTV Shareholders 1,000,000 1,000,000 99,993,000 -

CO.,LTD. programmestransmission andco-directors

5.YOU&ICORPORATIONCO.,LTD. Producingradio Shareholders 35,000,000 35,000,000 - -

programmes,operating andco-directors

radiostationand

producingpictures

6.BECASSETCO.,LTD. Ownandleasingassets Shareholders 30,000,000 30,000,000 - -

andco-directors

7.BECSTUDIOCO.,LTD.(*) Producingprogrammes Shareholders 5,000,000 5,000,000 - -

andservicingstudio andco-directors

equipment

8.BECINTERNATIONAL Providing,producing Shareholders 5,000,000 5,000,000 - -

DISTRIBUTIONCO.,LTD. TVprogrammes andco-directors

9.BECNEWSBUREAUCO.,LTD.(*) Producingnews Shareholders 5,000,000 5,000,000 - -

programmes andco-directors

10.BANGKOKTELEVISIONCO.,LTD. Providing,producing Shareholders 5,000,000 5,000,000 99,998,600 -



11.BANGKOKSATELLITE& Satelliteuplink- Shareholders 25,000,000 25,000,000 - -

TELECOMMUNICATION downlinkservices andco-directors

CO.,LTD.(*)

12.BECITSOLUTIONCO.,LTD. Informationtechnology Shareholders 15,000,000 15,000,000 - -

services,retailof andco-directors

computeraccessories

andmaintenanceservice

13.SATELLITETVBROADCASTING Satelliteuplink- Shareholders 1,000,000 1,000,000 - -

CO.,LTD.(*) downlinkservices andco-directors

14.BEC-TEROENTERTAINMENT Providingandproducing Shareholders 200,000,000 200,000,000 101,999,958 15,599,993

PUBLICCOMPANYLIMITED TVprogrammesandsell andco-directors

airtimeforTVadvertising;

producingandpromoting

musicfororganizing

concert,producingpictures

andplays

15.BECICORPORATIONLTD. Investininternet Shareholders 200,000,000 200,000,000 - -

business andco-directors

16.BECMULTIMEDIACO.,LTD. Investinmultimedia Shareholders 50,000,000 50,000,000 - -

business andco-directors

ParTiCularS TyPe oF BuSineSS relaTionShiP

Paid-uP CaPiTal diVidend

2007 2006 2007 2006

*NOTYETOPERATING



*NOTYETOPERATING

Unit:Baht



2007 2006 2007 2006

CoMPanieS held By

1.BECINTERNATIONAL


SuBSidiary

1.TVB3NETWORKCO.,LTD. Providingandproducing Shareholders 10,000,000 10,000,000 - -


airtime


PUBLICCOMPANYLIMITED

SuBSidiary

1.ThAITICKETMAJOR Servicingforproducing Shareholders 10,000,000 10,000,000 5,499,962 1,499,990

CO.,LTD. advertisement,reserve andco-directors

andsellingshowticket,

servicingtomakeseats

reservationandsellbus

tickets

2.BEC-TEROEXhIBITIONS Servicingandorganizing Shareholders 5,000,000 5,000,000 - -

CO.,LTD. andconsultinginexhibition andco-directors

3.BEC-TEROARSENALCO.,LTD. Managingafootballteam Shareholders 13,500,000 4,500,000 - -

andotherrelatedbusiness andco-directors

aSSoCiaTeS

1.SONYMUSICBECTERO Producing,trading Shareholders - - - 1,999,980

ENTERTAINMENTCO.,LTD. phonographdisk,videotape andco-directors

recorderandsoundrecorder

2.VIRGINBEC-TERORADIO Producingradio Shareholders 49,960,800 49,960,800 - -

(ThAILAND)LTD. programmes,operating andco-directors

radiostation

3.SMBTPUBLIShING Producing,trading Shareholders - 3,000,000 - -

(ThAILAND)CO.,LTD. phonographdisk,videotape andco-directors


4.ThemeSTARLimited Organizingshow Shareholders 160,502,947 160,502,947 - -

andco-directors

JoinT VenTure

1.BEC-TEROSCENARIOJOINT Organizingshowand Shareholders 40,000,000 - - -

VENTURE concert andco-directors


SuBSdiary

1.DIGITALFACTORYCO.,LTD. Mobileentertainment Shareholders 10,000,000 10,000,000 - -

service andco-directors

2.ThAIAUDIOTEXSERVICE Providingaudioinformation Shareholders 30,000,000 30,000,000 - -

LTD. servicesviatelephone andco-directors

CoMPany held By TWo

SuBSidiarieS (See note 2)

1.MOBI(ThAI)CO.,LTD. Mobileentertainment Shareholders 7,500,000 7,500,000 - -


aSSoCiaTe

1.CVDENTERTAINMENTPUBLIC Distributingandrenting Shareholders 324,000,000 360,000,000 7,653,250 10,752,500

COMPANYLIMITED videotape,VCDandDVD andco-directors

TOTALDIVIDEND 2,815,126,7701,329,839,930

- DIVIDENDRECEIVEDFROMSUBSIDIARIESANDASSOCIATE 2,809,626,8081,326,339,960

- DIVIDENDRECEIVEDFROMSUBSIDIARIESANDASSOCIATEhELDBYSUBSIDIARIES 5,499,962 3,499,970



11. inVeSTMenTS in land and STruCTureS TheCompanyanditssubsidiariesinvestedinlandandstructureswhichareunderconsideration

forcommercialuse.Therefore,thetotalacquisitioncostwasrecordedasinvestmentsinlandandstructures.

Thereisnoindicationofimpairmentofsuchlandandstructures,thennoallowanceforimpairmentof

assetshasbeenmade.

12. ProPerTy, PlanT and eQuiPMenT

*NOTYETOPERATING

Unit:Baht



2007 2006 2007 2006

CoMPanieS held By

1.BECINTERNATIONAL


SuBSidiary

1.TVB3NETWORKCO.,LTD. Providingandproducing Shareholders 10,000,000 10,000,000 - -


airtime


PUBLICCOMPANYLIMITED

SuBSidiary

1.ThAITICKETMAJOR Servicingforproducing Shareholders 10,000,000 10,000,000 5,499,962 1,499,990

CO.,LTD. advertisement,reserve andco-directors

andsellingshowticket,

servicingtomakeseats

reservationandsellbus

tickets

2.BEC-TEROEXhIBITIONS Servicingandorganizing Shareholders 5,000,000 5,000,000 - -

CO.,LTD. andconsultinginexhibition andco-directors

3.BEC-TEROARSENALCO.,LTD. Managingafootballteam Shareholders 13,500,000 4,500,000 - -

andotherrelatedbusiness andco-directors

aSSoCiaTeS

1.SONYMUSICBECTERO Producing,trading Shareholders - - - 1,999,980

ENTERTAINMENTCO.,LTD. phonographdisk,videotape andco-directors


2.VIRGINBEC-TERORADIO Producingradio Shareholders 49,960,800 49,960,800 - -

(ThAILAND)LTD. programmes,operating andco-directors

radiostation

3.SMBTPUBLIShING Producing,trading Shareholders - 3,000,000 - -

(ThAILAND)CO.,LTD. phonographdisk,videotape andco-directors


4.ThemeSTARLimited Organizingshow Shareholders 160,502,947 160,502,947 - -

andco-directors

JoinT VenTure

1.BEC-TEROSCENARIOJOINT Organizingshowand Shareholders 40,000,000 - - -

VENTURE concert andco-directors


SuBSdiary

1.DIGITALFACTORYCO.,LTD. Mobileentertainment Shareholders 10,000,000 10,000,000 - -


2.ThAIAUDIOTEXSERVICE Providingaudioinformation Shareholders 30,000,000 30,000,000 - -

LTD. servicesviatelephone andco-directors

CoMPany held By TWo

SuBSidiarieS (See note 2)

1.MOBI(ThAI)CO.,LTD. Mobileentertainment Shareholders 7,500,000 7,500,000 - -


aSSoCiaTe

1.CVDENTERTAINMENTPUBLIC Distributingandrenting Shareholders 324,000,000 360,000,000 7,653,250 10,752,500

COMPANYLIMITED videotape,VCDandDVD andco-directors

TOTALDIVIDEND 2,815,126,7701,329,839,930

- DIVIDENDRECEIVEDFROMSUBSIDIARIESANDASSOCIATE 2,809,626,8081,326,339,960

- DIVIDENDRECEIVEDFROMSUBSIDIARIESANDASSOCIATEhELDBYSUBSIDIARIES 5,499,962 3,499,970

Unit:Baht

ConSolidaTed

ParTiCularS 2006 inCreaSe

diSPoSal/ TranSFerred 2007

unuSed To / FroM

Cost

Land 5,569,750 - - - 5,569,750

Building 2,990,000 - - - 2,990,000

Officefurnitureandequipment 442,266,783 14,762,114 (10,235,998) 500,000 447,292,899

Utilitysystems 97,957,902 2,613,261 - 190,000 100,761,163

Televisionandradioequipment 250,316,073 595,321 - - 250,911,394

Leaseholdimprovement 129,214,797 13,500 (13,995,938) - 115,232,359

Motorvehicles 297,288,377 16,346,908 (580,251) 72,552,088 385,607,122

Toolsandprocessingequipment 265,328,015 1,317,906 - 39,118,405 305,764,326

Assetsunderinstallation 74,837,935 122,016,375 - (112,360,493) 84,493,817

Total 1,565,769,632 157,665,385 (24,812,187) - 1,698,622,830

accumulated depreciation

Building 723,744 149,500 - - 873,244

Officefurnitureandequipment 277,248,797 61,149,927 (8,323,504) - 330,075,220

Utilitysystems 31,434,950 20,078,786 - - 51,513,736

Televisionandradioequipment 193,892,155 25,979,042 - - 219,871,197

Leaseholdimprovement 45,701,673 23,580,456 (11,086,319) - 58,195,810

Motorvehicles 166,131,254 49,817,336 (530,002) - 215,418,588

Toolsandprocessingequipment 105,080,767 50,883,940 - - 155,964,707

Total 820,213,340 231,638,987 (19,939,825) - 1,031,912,502

Property,plantandequipment-net 745,556,292 666,710,328

Depreciationfortheyears 215,899,102 231,638,987



AsatDecember31,2007and2006,theconsolidatedfinancialstatementshavefullydepreciated

fixedassetsandareusableatthecostofBaht457.29millionandBaht394.93million,respectively.

AsatDecember31,2007and2006,theseparatefinancialstatementshavefullydepreciated

fixedassetsandareusableatthecostofBaht48.76millionandBaht50.77million,respectively.

13. deFerred riGhT To uSe ProPerTy

Unit:Baht


ParTiCularS 2006 inCreaSe diSPoSal/ 2007 unuSed

Cost

Officefurnitureandequipment 130,533,285 419,682 (2,330,482) 128,622,485

Utilitysystems 19,280,129 - - 19,280,129

Motorvehicles 45,154,666 44,860 - 45,199,526

Processingandtoolsequipment 318,010 - - 318,010

Total 195,286,090 464,542 (2,330,482) 193,420,150


Officefurnitureandequipment 69,629,985 21,161,231 (2,329,692) 88,461,524

Utilitysystems 8,292,938 3,856,026 - 12,148,964

Motorvehicles 34,442,338 4,383,250 - 38,825,588

Processingandtoolsequipment 300,628 16,929 - 317,557

Total 112,665,889 29,417,436 (2,329,692) 139,753,633

Equipment-net 82,620,201 53,666,517


Unit:Baht

ConSolidaTed


Cost

Building 90,985,384 - - 90,985,384

Buildingimprovement 39,713,627 6,530,999 8,191,400 54,436,026

Otherstructures 1,819,856 - - 1,819,856

Colortelevisionandradiotransmitter 300,154,002 162,000 - 300,316,002

Colortelevisionandradioequipment 446,189,483 9,150,000 - 455,339,483

Televisionrelayvehicles 11,562,675 - - 11,562,675

Networkstationproperty 1,836,869,292 14,580,114 100,133,679 1,951,583,085

Propertyunderinstallation 108,325,079 13,196,323 (108,325,079) 13,196,323

Total 2,835,619,398 43,619,436 - 2,879,238,834



Unit:Baht



Cost

Officefurnitureandequipment 130,533,285 419,682 (2,330,482) 128,622,485

Utilitysystems 19,280,129 - - 19,280,129

Motorvehicles 45,154,666 44,860 - 45,199,526

Processingandtoolsequipment 318,010 - - 318,010

Total 195,286,090 464,542 (2,330,482) 193,420,150


Officefurnitureandequipment 69,629,985 21,161,231 (2,329,692) 88,461,524

Utilitysystems 8,292,938 3,856,026 - 12,148,964

Motorvehicles 34,442,338 4,383,250 - 38,825,588

Processingandtoolsequipment 300,628 16,929 - 317,557

Total 112,665,889 29,417,436 (2,329,692) 139,753,633

Equipment-net 82,620,201 53,666,517


AsatDecember31,2007and2006,theconsolidatedfinancialstatementshavefullyamortized

right to use property, which are usable at the cost of Baht 820.61 million and Baht 802.11 million,

respectively.

14. deFerred PiCTureS renTal, PiCTure ProduCTS, PlayS

and CoPyriGhT CharGeS

Unit:Baht

ConSolidaTed


Cost

Building 90,985,384 - - 90,985,384

Buildingimprovement 39,713,627 6,530,999 8,191,400 54,436,026

Otherstructures 1,819,856 - - 1,819,856

Colortelevisionandradiotransmitter 300,154,002 162,000 - 300,316,002



Networkstationproperty 1,836,869,292 14,580,114 100,133,679 1,951,583,085

Propertyunderinstallation 108,325,079 13,196,323 (108,325,079) 13,196,323

Total 2,835,619,398 43,619,436 - 2,879,238,834

Unit:Baht

ConSolidaTed


amortization of right to

use property

Building 72,978,254 1,370,465 - 74,348,719

Buildingimprovement 27,082,550 6,722,829 - 33,805,379

Otherstructures 1,281,817 117,948 - 1,399,765

Colortelevisionandradiotransmitter 200,072,374 8,121,029 - 208,193,403



Networkstationproperty 936,496,735 77,408,751 - 1,013,905,486

Total 1,677,765,895 100,305,965 - 1,778,071,860

DeferredRighttoUseProperty–net 1,157,853,503 1,101,166,974

Amortizationofrighttouseproperty

fortheyears 87,275,826 100,305,965

Unit:Baht

ConSolidaTed SeParaTeFinanCial STaTeMenTS

ParTiCularS 2007 2006 2007 2006

DeferredPicturesRental,Picture

Products,PlayandCopyright

Charges-netbroughtforward 1,205,416,667 1,394,228,718 542,634,447 520,724,278

AddIncreaseduringtheyears 1,274,881,535 1,115,234,989 1,054,616,920 793,992,732

LessDecreasebyinter–companysales - - (145,899,130) (105,505,150)

Total 2,480,298,202 2,509,463,707 1,451,352,237 1,209,211,860

LessAmortizationduringtheyears (1,206,222,886) (1,304,047,040) (837,728,131) (666,577,413)

DeferredPicturesRental,Picture

Products,PlayandCopyright

Charges-netcarriedforward 1,274,075,316 1,205,416,667 613,624,106 542,634,447



15. diVidend PayMenT and direCTorS’ reMuneraTion OnAugust6,2007,theBoardofDirectors’sMeetingNo.4/2007washeldandhasaresolution

topayinterimdividendatBaht0.50persharetotheshareholdersof2,000millionsharesamountofBaht

1,000million.TheinterimdividendpaymentwasmadeonAugust29,2007.

OnMay8,2007,theBoardofDirectors’sMeetingNo.3/2007washeldandhasaresolutionto

payinterimdividendatBaht0.40persharetotheshareholdersof2,000millionsharesamountofBaht

800million.TheinterimdividendpaymentwasmadeonMay30,2007.

OnApril27,2007,theOrdinaryGeneralShareholders’Meetingwasheldandhasacknowledged

topaytheproposedinterimdividendtotheshareholdersfollowingtheBoardofDirectors’sMeetingheld

onAugust8,2006,whichhasaresolutiontopayinterimdividendof2,000millionsharesatBaht0.35

pershareamountofBaht700million.TheinterimdividendpaymentwasmadeonSeptember7,2006,

andapprovedtopaythedirectors’remunerationfortheyear2007amountingtoBaht15million.

OnApril26,2006,theOrdinaryGeneralShareholders’Meetingwasheldandhasaresolution

topaydividendatBaht0.45persharetotheshareholdersof2,000millionshares.OnAugust10,2005,

theBoardofDirectors’sMeetingwasheldandhasa resolution topay interimdividendatBaht0.15

pershareamountofBaht300million.TheinterimdividendpaymentwasmadeonSeptember7,2005,

the remainingofBaht0.30per shareamountofBaht600million,wasdulypaidonMay25,2006.

TotaldividendpaymentfollowingtheresolutionamountedtoBaht900millionandapprovedtopaythe

directors’remunerationfortheyear2006amountingtoBaht12million.

16. TranSaCTionS WiTh relaTed PerSonS and ParTieS

TheCompanyandsubsidiarieshavecertaintransactionswiththerelatedpersonsandparties

whicharerelatedthroughtheshareholdingorhavingshareholdersorco-directorsorbeingshareholders

ofsubsidiaries.Suchtransactionsincurinnormalbusinessatmarketpricewhicharecomparabletothe

tradingtransactionswithothers.Theeffectsofthesetransactionswerereflectedintheaccompanying

financial statementson thebasesmutuallydeterminedby theCompanyandsubsidiarieswithparties

concernedasfollows:

1.Subsidiaries SeeNote10

2.Associates SeeNote10

2.1CVDINTERNATIONALCO.,LTD. SubsidiaryofCVDENTERTAINMENTPUBLICCO.,LTD.

2.2CVDMEDIACO.,LTD. SubsidiaryofCVDENTERTAINMENTPUBLICCO.,LTD.

2.3CVDMUSICCO.,LTD. SubsidiaryofCVDENTERTAINMENTPUBLICCO.,LTD.

3.Associatesheldbysubsidiary SeeNote10

4.Relatedcompanies

4.1MALEENONTTOWERCO.,LTD. Shareholdersand/co-directors

4.2MILLIONAIREPROPERTYFUND MALEENONTTOWERCO.,LTD.

ismajorinvestmentunitholder

relaTed PerSonS and ParTieS relaTionShiP



Thesignificanttransactionswithrelatedpersonsandpartiesareasfollows:

Unit:Baht

ConSolidaTed SeParaTeFinanCial BalanCe SheeT STaTeMenTS

TranSaCTionS

2007 2006 2007 2006

1.Tradeaccountsreceivable

(Note6)

-Subsidiaries - - 495,492,530 340,845,682

-Associate 6,202,509 3,254,895 15,164 686,237

-Associatesheldbysubsidiary 9,281,986 21,256,217 - -

Total 15,484,495 24,511,112 495,507,694 341,531,919

2.Loansextended(Note7)

-Subsidiaries - - 329,262,585 503,455,891


Total 44,065,570 55,516,060 329,262,585 503,455,891

3.Othercurrentassets

-Subsidiaries - - 9,579,249 12,314,380


Total 24,037,283 36,354,441 9,579,249 12,314,380

4.Saleofplays(Note14)

-Subsidiaries - - 145,899,130 105,505,150

5.Othernon-currentassets

Leasedbuildingdeposits

-Relatedcompanies 39,609,935 32,176,439 9,304,056 7,443,245

6.Tradeaccountspayable

-Subsidiaries - - 2,765,749 39,775,264

-Associates - 85,333 - -


Total 3,844,243 2,767,011 2,765,749 39,775,264

7.Othercurrentliabilities

-Subsidiaries - - 31,938,080 20,128,871

-Associates 236,707 148,027 892 39,535


-Relatedcompanies 11,980,634 15,902,904 125,225 120,684

Total 90,075,742 129,805,503 32,064,197 20,289,090



Unit:Baht

ConSolidaTed SeParaTeFinanCial inCoMe STaTeMenT STaTeMenTS

TranSaCTionS

2007 2006 2007 2006

8.Advertisementincome

-Subsidiaries - - 520,871,750 481,029,500

-Associate - 2,161,150 - -

-Associatesheldbysubsidiaries 94,745,121 117,009,946 - -

Total 94,745,121 119,171,096 520,871,750 481,029,500

9.Incomefromcopyrightand

otherservices

-Subsidiaries - - 1,027,022,332 744,573,849

-Associates 13,664,367 15,097,955 2,749,199 4,250,933


Total 19,851,379 30,803,854 1,029,771,531 748,824,782

10.Otherincome

-Subsidiaries - - 27,462,418 32,224,788


Total 22,396,739 26,326,948 27,462,418 32,224,788

11.Costofsalesandservices

-Subsidiaries - - 84,158,233 41,230,841

-Associate - 153,320 - -


-Relatedcompanies 105,165,674 95,727,032 - -

Total 121,813,023 130,915,917 84,158,233 41,230,841

12.Sellingandadministrative

expenses

-Subsidiaries - - 25,561,534 25,927,887



Total 278,439,475 297,605,149 65,692,441 60,647,924



17. leGal reSerVe In compliancewith the PublicCompanyAct, B.E. 2535 (1992), theCompanyhas to set up

legalreserveat least5%ofannualnetprofit lessdeficitsbroughtforward(ifany)untilmeet10%of

authorizedsharecapital.Suchlegalreserveisnotallowedtopayfordividend.In2007,theCompanyhas

appropriatedforlegalreserveamountingtoBaht200.00million.

18. oFFSeT The deFiCiTS OnApril27,2007,theOrdinaryGeneralShareholders’Meetingfor2007washeldandhasa

resolutiontotransferlegalreserveandpremiumoncommonstockstooffsettheCompany’sdeficitsas

atJanuary1,2007,ofwhichwastherestatedbalanceofcumulativeeffectonthechangeinaccounting

policyasdescribedinnote3,asfollows:

-legalreserveamountofBaht200.00million

-premiumoncommonstocksamountofBaht1,369.77million

Suchtransferringofthelegalreserveandpremiumoncommonstockstransactionsamountof

Baht1,569.77million,herebyresultingtheincreaseinthesameamountastheunappropriatedretained

earningsintheconsolidatedfinancialstatements.

19. FinanCial inForMaTion By SeGMenT TheCompanyand its subsidiariesoperate inone industrial segment, that is thebusinessof

entertainmentandrecreationwhichoperateinonegeographicalarea,Thailand.Therefore,therevenues,

profitandallassetsshownintheconsolidatedandtheseparatefinancialstatementsarerelatedtothe

aforesaidbusinesssegmentandgeographicalarea.

20. reGiSTered ProVidenT Fund TheCompanyanditssubsidiarieshavesetupandregisteredprovidentfundinaccordancewith

theProvidentFundActB.E.2530(1987),inordertobethesavingsandwelfarepromotion,aswellasthe

fringebenefitsuponresignationorretirementtoitsemployeesaccordingtotheCompany’sregulation.

ThefundispartlycontributedbytheemployeesandanotherpartbytheCompanyattherate3-5%of

theirbasicsalaries.hereby,theCompanyhasappointedtheKasikornAssetManagementtobethefund

manager.

Provident fund contributionsmadeby theCompany and its subsidiaries for their employees

andrecordedasexpensesintheincomestatementsfortheyearsendedDecember31,2007and2006

areBaht19.64million(theCompanyBaht1.53million)andBaht17.30million(theCompanyBaht1.43

million),respectively.

Unit:Baht

ConSolidaTed SeParaTeFinanCial inCoMe STaTeMenT STaTeMenTS

TranSaCTionS

2007 2006 2007 2006

8.Advertisementincome

-Subsidiaries - - 520,871,750 481,029,500

-Associate - 2,161,150 - -


Total 94,745,121 119,171,096 520,871,750 481,029,500

9.Incomefromcopyrightand

otherservices

-Subsidiaries - - 1,027,022,332 744,573,849

-Associates 13,664,367 15,097,955 2,749,199 4,250,933


Total 19,851,379 30,803,854 1,029,771,531 748,824,782

10.Otherincome

-Subsidiaries - - 27,462,418 32,224,788


Total 22,396,739 26,326,948 27,462,418 32,224,788

11.Costofsalesandservices

-Subsidiaries - - 84,158,233 41,230,841

-Associate - 153,320 - -


-Relatedcompanies 105,165,674 95,727,032 - -

Total 121,813,023 130,915,917 84,158,233 41,230,841

12.Sellingandadministrative

expenses

-Subsidiaries - - 25,561,534 25,927,887



Total 278,439,475 297,605,149 65,692,441 60,647,924



21. CoMMiTMenTS and ConTinGenT liaBiliTieS 21.1 Commitments

Itssubsidiarieshavecommitments,asfollows:

Unit:MillionBaht


ParTiCularS 2007 2006 2007 2006

Bankguarantees 13.78 7.44 - -

Thebankguaranteesaresecuredbyfixeddepositatbank.

21.2 Commitments on copyright charges of pictures under buying forward contract

Itssubsidiarieshavecommitmentsoncopyrightchargesofpicturesunderbuyingforward

contract,asfollows:

Unit:MillionBaht


ParTiCularS 2007 2006 2007 2006

Commitmentsoncopyright

chargesofpicturesunder

buyingforwardcontract

-Currentportion 6.32 3.20 - -

21.3 Commitments on long-term lease

TheCompanyanditssubsidiarieshavecommitmentsonlong-termlease,asfollows:

- TheCompanyanditssubsidiarieshaveenteredintoLeaseAgreementtoleasetheoffice

spaceofMaleenontTower,on2nd -9th,21st,25th-28thand30th-34thFloors,at3199Rama IVRoad,

KwaengKlongtan,KhetKlongtoey,BangkokwithMillionairePropertyFundforthetotalperiodof3years,

bygraduallysigningtheagreementuponactuallyutilized,commencingfromJanuary19,2005,April9,

2007,andNovember12,2007.

- ItssubsidiaryhasenteredintoLeaseAgreementtoleasethespaceofMaleenontTower

(MII),onB2and2nd-12thFloorsfortheperiodof3years,commencingfromApril9,2007toApril8,

2010.

- ItssubsidiaryhasenteredintoLeaseAgreementtoleasethespaceofBAIYOKIIBuilding,

84thFloorfortheperiodof3years,commencingfromMarch17,2005toMarch16,2008.



21.4 Commitments on joint-operation contracts with MCoT

According to the Television Joint-operation Contract, the subsidiary has to pay annual

compensationtoMCOT,thetotalpayableamountofcompensationsinceJanuary1,2008and2007to

March25,2020amountingtoBaht2,333.04millionandBaht2,468.95million,respectively.Andtopay

annualcompensationaccordingtotheContractofOperatingProgrammeandAdvertisementthrough

anMCOTFMradiostation,at105.5MhfrequencytoMCOT,thetotalpayableamountofcompensation

sinceJanuary1,2008and2007toJanuary31,2020amountingtoBaht242.46millionandBaht252.66

million,respectively.

22. diSCloSure oF FinanCial inSTruMenTS TheCompanyanditssubsidiarieshaveinformationrelatingtofinancialinstrumentsbothinand

offbalancesheets,asfollows:

22.1 accounting policies and procedure

- SeeNote4.

22.2 risk from breach of contracts

- Duetothecounterpartydoesnotfollowtherequirementinthecontractwhichcaused

damagetotheCompanyanditssubsidiaries.

- Riskfromconcentrationofcreditisminimalevenmostofthetradeaccountsreceivable

oftheCompanyanditssubsidiariesareadvertisingagencies,duetobusinessesofthe

group spread through out the industries and not concentrated within any particular

agencyorgroupofagenciesandthegrouphascloselymonitoredeachtradeaccount

receivablebusiness, thustheCompanyand itssubsidiariesdonotexpectanymaterial

damagefromthiskindofrisk.

- Forthefinancialassetsshowninthebalancesheets,thebookvalueofsuchassetsisnet

fromvariousprovisionstobeestimatedfairvalue.Suchprovisionsareassumedtobethe

highestvalueofriskincurredfrombreachofcontracts.

Unit:MillionBaht

SeParaTe ParTiCularS ConSolidaTed FinanCial STaTeMenTS

Spacerental,equipmentandfurnishingon

theleasedspace(permonth)

MaleenontTower 4.68 1.86

MaleenontTower(MII) 2.83 -

BAIYOKIIBuilding 1.20 -

Total 8.71 1.86

Commonservices(permonth)

MaleenontTower 3.01 1.24

MaleenontTower(MII) 1.89 -

Total 4.90 1.24

Total 13.61 3.10

Unit:MillionBaht


ParTiCularS 2007 2006 2007 2006

Bankguarantees 13.78 7.44 - -

Unit:MillionBaht


ParTiCularS 2007 2006 2007 2006

Commitmentsoncopyright

chargesofpicturesunder

buyingforwardcontract

-Currentportion 6.32 3.20 - -



22.3 risk relating to interest rate of financial assets

Riskfromthefluctuation in interestratemayhavenegativeeffecttotheCompanyand

itssubsidiariesforthecurrentandthefollowingyears.Managementbelievesthattheycanmanagethe

contingentrisk,duetotheCompanyhassetupaplanandfollowupthesituationclosely.

22.4 risk from currency exchange rate

TheCompanyanditssubsidiarieshaveoutstandingforeigncurrencyassetsandliabilities

at the balance sheet date which the amounts are immaterial. Therefore, the hedging from currency

exchangerateriskhasnotbeenmade.

22.5 Fair value of financial instruments

Thefollowingmethodsandassumptionsareusedtoestimatethefairvalueoffinancial

instruments:

- Financialassetsshownatbookvaluewhichequaltoestimatedfairvalue.

- Financial liabilities shownatbookvaluealmost thesamewith fair value,due tosuch

liabilitieswillbematuredinshortterm.

23. inCoMe TaX Corporate income taxesof theCompany, subsidiaries and joint venture for the years ended

December 31, 2007 and 2006 have been calculated from the accounting profit and adjusted with

otherrevenuesandsomeexpenseswhichareexemptedfromincometaxsuchasdividend incomeor

beingdisallowable expenses in income tax computationpurposes suchasdoubtful debt and losson

impairment.

TheCompanyhascalculatedcorporateincometaxesfortheyear2007attherateof30percent

andfor2006,taxableprofitmaximumBaht300millionwascalculatedattherateof25percentand

taxableprofitoverBaht300million,attherateof30percent.

Corporateincometaxesofsubsidiariesandjointventurewerecalculatedattherateof30per

cent.

24. leGal CaSe TheCompanyandcertainsubsidiarywerefiledalawsuitasjointdefendantinbreachofcopyright

andtrademarkworthBaht110million.Eventhoughtheoutcomeofthecaseisnotyetfinalizedbutthe

Company expects no negative effect from being sued. Therefore, the contingent expenses from the

outcomeofsuchcasehavenotbeenaccountedfor.In2007,theaforesaidcasehasnoanyprogress.

Certainsubsidiarywasfielda lawsuitasadefendant inbreachofcopyrightworthBaht730

million,whichtheCourtoffirstinstancehasrendereditsjudgmenttodismissthecaseandtheplaintiff

hassubmittedanappealagainstsuchcase.however,thesubsidiarycompanyexpectsnonegativeeffect

frombeingappealed.Therefore,thecontingentexpensesfromtheoutcomeofsuchcasehavenotbeen

accountedfor.

25. reClaSSiFiCaTion oF aCCounTS Certainaccountsinthe2006financialstatementshavebeenreclassifiedtoconformwiththe

presentationof2007financialstatements.

26. FinanCial STaTeMenTS aPProVal ThesefinancialstatementsaredulyapprovedbytheCompany’sdirectors.



Revenue Structure

reVenue STruCTure and ChanGeS FroM The PreViouS year BEC World’s major revenue is advertising income came mainly from sales of Thai TV Color

Channel3’scommercialairtime,especiallyduringthetimeslotsthatfilledupwithprogrammessourcedor

producedbyBECWorldanditssubsidiaries.Revenuefromcopyrightandotherservicescamemainlyfrom

eventsthatweorganizedsuchasshows,andalsoincludingincomefromrighttouseourprogrammes;

servicefeesfromsellingshowandbustickets;revenuesharingfromMobileEntertainment,andother

services,whileotherincomecamemainlyfrominterestearningsandreturnfrominvestments.

In2007,therevenuefromadvertisingairtimesalesincreasedsubstantiallyfromthatlevelwe

hadintheprioryear.Theadvertisingincomeincreasedcontinuouslysincethelastquarterof2005,from

thehigherutilizationrateofnon-primetimeslots,expansionofoursuper-primeslots,andfromair-time

rateincreasesoncertaindayparts.Therevenuefromconcertsandshowsincreaseasthenumberofthe

eventshowswhichincreasedfromthepreviousyear.

RevenueStructureoftheGroupduringthePreviousThreeYears.(Alltheserevenuesweregeneratedwithinthekingdomandarenetofintra-grouptransactions.)

2007 2006 2005

Product/Service Provided by Company limited Million Baht % Million Baht % Million Baht %

AdvertisingIncome

FromTelevision BECWorldPlc.

BangkokEntertainment1

NewWorldProduction1

Rungsirojvanit1

BangkokTelevision1

You&ICorporation1

BECInternationalDistribution1

Totaladvertisingincomefromtelevision 6,696.39 84.04 5,762.06 82.89 4,614.59 71.88

FromRadioStation

Totaladvertisingincomefromradiostation 326.07 4.09 352.07 5.07 348.85 5.43

TotalAdvertisingIncome 7,022.46 88.13 6,114.13 87.96 4,963.44 77.31

IncomefromCopyright BangkokEntertainment1 9.09 0.11 5.60 0.08 2.39 0.04

andOtherServices BECWorldPlc. 17.44 0.22 38.33 0.55 11.45 0.18

BangkokTelevision1 10.87 0.14 10.35 0.15 - -

BEC–TeroEntertainment2andsub. 123.57 1.55 150.67 2.17 199.42 3.11

BECInternationalDistribution1 6.05 0.08 3.10 0.05 1.93 0.03

BECITSolution1 1.98 0.02 1.43 0.02 1.52 0.02

BECAsset1 0.29 0.00 0.99 0.01 0.68 0.01

BECICorporation1 80.99 1.02 84.30 1.21 77.97 1.21

IncomefromcopyrightandOtherServices 250.28 3.14 294.77 4.24 295.36 4.60

Incomefromconcertsandshows BEC–TeroEntertainment2andsub. 513.25 6.44 365.81 5.26 1,032.81 16.09

TotalIncomefromSalesandServices 7,785.99 97.71 6,774.71 97.46 6,291.61 98.00

Company’sportioninnetincomeofassociate - - 15.20 0.22 31.89 0.50

OtherIncome 182.10 2.29 161.24 2.32 96.69 1.50

TotalRevenue 7,968.09 100.00 6,951.15 100.00 6,420.19 100.00

notes 199.99%heldbyBECWorldPublicCompanyLimited

259.99%heldbyBECWorldPublicCompanyLimited


liST oF ToP Ten larGeST ShareholderS

Asat21August2007,thelatestclosingofthecompanyshareregistrarwithinthelastfiscal

year.

naMe oF The ShareholderS no. oF ShareS held PerCenTaGe

1.MALEENONTGROUP* 1,131,860,000 56.59

2.hSBC(SINGAPORE)NOMINEESPTELTD 105,880,330 5.29

3.NORTRUSTNOMINEESLTD. 62,430,100 3.12

4.ThaiNVDRCompanyLimited 49,901,788 2.50

5.SOMERS(U.K.)LIMITED 45,810,300 2.29

6.ChASENOMINEESLIMITED42 45,270,970 2.26

7.LITTLEDOWNNOMINEESLIMITED7 19,901,166 1.00

8.ThEBANKOFNEWYORK(NOMINEES)LIMITED 19,849,900 0.99

9.GERLACh&CO.-AGFFUNDINCASMANAGER-CORP 15,257,900 0.76

10.N.C.B.TRUSTLIMITED-STANDARDLIFEINVESTMENTS 15,026,300 0.75

remark : * DetailoftheMaleenontGroupisasfollow:

1.Mr.Prasan Maleenont holds 157,140,000 shareswhichis 7.86%.

2.Mr.Pravit Maleenont holds 228,400,000 shareswhichis 11.42%.

3.Mr.Prachum Maleenont holds 157,140,000 shareswhichis 7.86%.

4.Ms.Ratana Maleenont holds 157,160,000 shareswhichis 7.86%.

5.Ms.Nipa Maleenont holds 117,740,000 shareswhichis 5.89%.

6.Ms.Amphorn Maleenont holds 157,140,000 shareswhichis 7.86%.

7.Ms.TracyAnn Maleenont holds 78,570,000 shareswhichis 3.93%.

8.Ms.Cathleen Maleenont holds 78,570,000 shareswhichis 3.93%.

The company has individuals within the Maleenont family - The Maleenont, who are the

majority shareholder, set its policy, control direction and direct the business. BEC World is the main

businessoftheMaleenont.

ChanGe in holdinG oF The CoMPany’S ShareS By direCTorS and eXeCuTiVeS:

As of December 31, 2007 Mr.Panithan Tosnaitada’s shareholding has increased by 10,000

shares.holdingsofotherdirectorsandexecutivesdidnotchangefromthelevelatprioryearend.

Shareholding Structure,

Management and Corporate Governance


Organization Chart of the Company

Board oF direCTorS

orGanizaTion CharT oF The CoMPany

orGanizaTion CharT

BeC World Public Company limited.

as of december 31, 2007

ViCe PreSidenTInternalAuditOfficer

eXeCuTiVe CoMMiTTee

ChairMan oF

The eXeCuTiVe Board

ChieF oPeraTinG oFFiCerViCe ChairMan oF The eXeCuTiVe Board

Senior eXeCuTiVe ViCe PreSidenT

Senior eXeCuTiVe ViCe PreSidenT-NewMedia

Senior Vice President

-TVProgram

Senior Vice President-Production


-Marketing&

Sales


-Radio

Senior Vice President-NewMedia

Senior Vice President-Finance&

Accounting


-Information&

Technology


-human

Resource


-Administration

Vice President-Production

Vice President-Advertising

Vice President-Business

Development

&Investment

Vice President

-Finance

Vice President-Information

Technology

Vice President

-human

Resource

Vice President

-Administration


Management Structure

BECWorldismanagedbyBoardofDirectors,whichisaunitaryBoardcomprising7executive

directors,2nonexecutivedirectorsand3independentdirectors.Thenumberofnonexecutivedirectors

and independent directors combined ismore thanone third of the number of the total directors to

balancepowerandtobeabletoauditthemanagement.

TheBoardhasestablishedsubcommitteestoassistitformanagementorscreeningofmatters.

Thosesubcommitteesare,ExecutiveCommittee,AuditCommitteeandNominatingCommittee.Asthe

BoardofDirectorsisthehighestbodyoftheCompanywhichshalldeterminevision,directionandpolicy

andmakedecisionforthebestinterestoftheCompanyandshareholders,giveadviceandconsideran

operation of the Executive Committee, which is responsible for management and supervision of the

administrationunit.

Inconductingthemanagement,theBoardofDirectorshasassignedtheExecutiveCommittee

comprising7directors,eachofthemhasdutytosuperviseandcontrolroutineworksofeachbusiness

unit,dependingonexpertise,interest,capability,andsuitabilityofeachperson.ChairmanoftheExecutive

CommitteeshallbethepersonwhoisresponsibleforsupervisionandcontroloftheExecutiveCommittee.

The Executive Committee shall obtain direction/policy and principles of good corporate governance

fromtheBoardofDirectorstodeterminetheoperatingplanhavingtheChairmantoberesponsiblefor

supervisionandcontroloftheexecutiveofficers’managementandperformance.

TheAuditCommitteehasdutytoauditthemanagement’sperformance.Ithasmajorrolein

auditingthefinancialreporttoensuretheaccuracyoffinancialstatementsasrequiredbygeneralaccepted

accountingstandard.Theaccountingpolicyhasbeenproperlyselectedandstrictlycomplied.Theaudit

alsoincludestheauditmadetoensuresufficientdisclosureofmaterialinformation,informationrelating

toconnectedtransactionortransactionswhichmayhaveconflictofinterest.

Board of directors

Asof31December2007,theCompany’sBoardofDirectorscomprises12directors,namely,

1. Mr.VichaiMaleenont ChairmanoftheExecutiveBoard

2. Mr.PrasanMaleenont Vice-ChairmanoftheExecutiveBoard

3. Mr.PravitMaleenont Director

4. MissRatanaMaleenont Director

5. MissNipaMaleenont Non-ExecutiveDirector

6. MissAmphornMaleenont Director

7. Mr.PrachumMaleenont Director

8. Mrs.RatchaneeNipatakusol Director

9. Mr.ArunNgamdee IndependentDirector

10. Mr.PrathanRangsimaporn IndependentDirector

11. Mr.ManitBoonprakob IndependentDirector

12. Mr.MatthewKichodhan* Non-ExecutiveDirector


Mr.ChatchaiThiamtongisresponsiblefortheCompany’ssecretarialworks.

note: * Mr.MatthewKichodhanassuredthepositionattheendofApril2007pursuantto

theresolutionofthe2007AGM.

Records:ofworkingexperiencesofworksofthedirectorsandtheexecutiveofficersareshown

onpages103-108.

Independent director means director who is independent in giving opinion. The Board of

DirectorsmeetingNo.2/2550consideredqualificationsoftheindependentdirectorasfollows:

1) DirectorwhomayholdsharesintheCompanynotmorethan3%ofthetotalshares

entitledtocastvote.

2) DirectorwhodoesnothavemanagementdutyintheCompanyorsubsidiary.

3) Directorwhoisindependentfromthemanagementandcontrollingshareholders.

4) Directorwhoshallnotbecloserelativeorthepersonwhohasreceivedorhadinterest

jointlywiththemanagement,themajorshareholdersorthecontrollingpersons.

5) DirectorwhodoesnothavematerialbusinessrelationshipwiththeCompanywhich

mayinfluencetheopiniontobegivenindependently.

6) Directorwho isnot theemployeeorstaffwhohasreceivedsalaryduringoneyear

beforeassumingtheposition.

authorized director

AuthorizeddirectorsareMr.VichaiMaleeenont,Chairman,tosignwiththeCompanyseal,or

Mr.PrasanMaleenont,Mr.PravitMaleenont,Miss.RatanaMaleenont,Mr.PrachumMaleenont,Miss.

AmphornMaleenont,Miss.NipaMaleenontandMrs.RatchaneeNipatakusol,anytwodirectorstojointly

signwiththeCompanyseal.

Scope of authority and duty of director

TheBoardofDirectorsisthehighestbodyoftheCompanywhichshalldeterminevision,direction

andpolicyandmakedecisionfor thebest interestof theCompanyandshareholders,aswellasgive

adviceandconsideranoperationoftheExecutiveCommittee,whichisresponsibleformanagementand

supervisionoftheadministrationunit.Directorshallperformthedutyincompliancewithlaws,objectives

andarticlesofassociationoftheCompanyaswellasresolutionsoftheshareholdersmeetings.TheBoard

ofDirectorsmaydelegateoneormoredirectorstoperformanyactonbehalfoftheBoardofDirectors.

Measures to prevent Conflict of interest

TheBoardofDirectorshassetmeasurestopreventconflictofinterestbyrequiringdirectorto

informtheBoardofDirectorswithoutdelayifthedirectororhis/hercloserelativeandpersonrelated

tothedirectorhasanyinterestinthetransactiontobeenteredintowiththeCompany,anychangeof

shareholdingoftheCompany,oranyothercompanyinthegroupwhichtheCompanyholdssharesmore

than25%ofthetotalsharesissuedandsubscribedofthesaidcompany.

Management Structure (Continued)


Performance of duty of director

In2007,theBoardofDirectorsconvened5meetings.

naMe-FaMily naMe

nuMBer oF aTTendanCe TiMe/ nuMBer oF MeeTinGS

1. Mr.VichaiMaleenont 5/5

2. Mr.PrasanMaleenont 5/5

3. Mr.PravitMaleenont 4/5

4. Mr.PrachumMaleenont 3/5

5. MissRatanaMaleenont 5/5

6. MissNipaMaleenont 5/5

7. MissAmphornMaleenont 5/5

8. Mrs.RatchaneeNipatakusol 5/5

9. Mr.MatthewKichodhan 3/5*

10. Mr.ArunNgamdee 5/5

11. Mr.PrathanRangsimaporn 5/5

12. Mr.ManitBoonprakob 5/5

Remarks: Mr.MatthewKichodhanassumedthepositionattheendofApril2007pursuanttothe

resolutionoftheshareholdersmeetingwhereduringthatperiodtwomeetingshadbeen

already convened. Mr. Mathew, as a director, attended the meeting No. 3 and every

meetingthereafteruptothemeetingNo.5,totaling3meetings.

executive Committee and executive officers

Asat31December2007,theCompany’sExecutiveCommitteecomprised7executivedirectors

asfollows:


2. Mr.PrasanMaleenont Vice-ChairmanoftheExecutiveBoard,

ChiefOperatingOfficer

3. Mr.PravitMaleenont SeniorExecutiveVicePresident,ExecutiveDirector,

TelevisionBusinessDivision

4. Mr.PrachumMaleenont SeniorExecutiveVicePresident,

ExecutiveDirector,NewMediaBusinessDivision

5. MissRatanaMaleenont ExecutiveDirector,FinanceandAccountingDivision

6. MissAmphornMaleenont ExecutiveDirector,ProductionDivision

7. Mrs.RatchaneeNipatakusol ExecutiveDirector,MarketingandSaleDivision



Executiveofficersasat31December2007comprised15officersasfollows:


2. Mr.PrasanMaleenont ChiefOperatingOfficer

3. Mr.PravitMaleenont SeniorExecutiveVicePresident,

SeniorVicePresident,TelevisionBusinessDivision

4. Mr.PrachumMaleenont SeniorExecutiveVicePresident,

SeniorVicePresident,NewMediaBusinessDivision

5. MissRatanaMaleenont SeniorVicePresident,FinanceandAccountingDivision

6. MissAmphornMaleenont SeniorVicePresident,Production

7. Mrs.RatchaneeNipatakusol SeniorVicePresident,MarketingandSaleDivision

8. Mr.PanithanTosnaitada VicePresident,AdvertisingDivision

9. Mr.SomrakNarongvichai VicePresident,TVProductionDivision

10. Mr.BorisutPuranasamriddhi VicePresident,AdministrationDivision

11. Mr.ChatchaiThiamtong VicePresident,FinanceDivision

12. Dr.ApinyaKangsanarak VicePresident,humanResourceDivision

13. Mr.PisanuRuangrajitpakorn VicePresident,TechnologyDivision

14. Mr.NoppongBootkhwan VicePresident,InternalAuditOffice

15. Mr.NopphadolKhemayotin VicePresident,

BusinessDevelopmentandInvestmentDivision

Scope of authority of the executive Committee and executive officers

The Board of Directors has appointed the Executive Committee to be a working group

responsibleforroutinemanagementoftheCompany,andalsoactasdirectorsinsubsidiaries.Currently,

the Company’s Executive Committee comprise 7 directors, each of them has duty to supervise and

controlroutineworksofeachbusinessunit,dependingonexpertise,interest,capability,andsuitabilityof

eachperson.ChairmanoftheExecutiveCommitteeshallbethepersonwhoisresponsibleforsupervision

and control of the Executive Committee. The Executive Committee shall obtain direction/policy and

principlesofgoodcorporategovernancefromtheBoardofDirectorstodeterminetheoperatingplan

havingtheChairmantoberesponsibleforsupervisionandcontroloftheexecutiveofficers’management

andperformance.TheBoardofDirectorshasdelegatedauthoritytotheExecutiveCommitteetoperform

thedutyfortheBoardofDirectors.however,forcertainmatterswhichareneworrelatetomorelineof

commands,theExecutiveCommitteemayreferthemattertotheBoardofDirectorsforapprovaloncase

bycasebasis,suchas,incaseofjointinvestmentwithothersfornewbusiness.

Performance of duty of executive Committee and executive officer

TheExecutiveCommitteeandexecutiveofficersnormallyconvenethemeetingonceaweek.



audit Committee

Asat31December2007,theAuditCommitteecomprised3directorsasfollows:

1. Mr.ArunNgamdee ChairmanoftheAuditCommittee

2. Mr.PrathanRangsimaporn AuditCommittee

3. Mr.ManitBoonprakob AuditCommittee

Mr.ChatchaiThiamtong,secretaryoftheAuditCommittee

Scope of authority of the audit Committee

TheCompany’sAuditCommitteehasscopeofauthorityandresponsibilitytowardtheBoardof

Directorsasfollows:

1. ToverifyandensuretheaccuracyandsufficiencyoftheCompany’sfinancialreports;

2. ToverifyandensureefficiencyandsuitabilityoftheCompany’sinternalcontrolandinternal

auditsystem;

3. ToverifyandensuretheCompany’scompliancewithlawsregardingSecuritiesandExchange

Control,rulesandregulationsoftheStockExchangeandlawsrelatingtotheCompany’s

businesses;

4. Toconsider,select,nominateforappointmentandproposecompensationfortheCompany’s

auditor;

5. Toverifyandensure theaccuracyandcompleteof theCompany’sdisclosure incaseof

connectedtransaction;

6. ToperformanyotheractasassignedbytheBoardofDirectorsandasagreedbytheAudit

Committee;

7. TopreparereportofgoodcorporategovernanceoftheAuditCommitteetobedisclosedin

theCompany’sannualreport.

Performance of duty of the audit Committee

In2007,theCommitteeconvened6meetings.

naMe-FaMily naMe


1. Mr.ArunNgamdee 6/6

2. Mr.PrathanRangsimaporn 6/6

3. Mr.ManitBoonprakob 6/6

The nominating Committee

Asat31December2007,theNominatingCommitteecomprised3directorsasfollows:

1. Miss.RatanaMaleenont NominatingCommittee

2. Mr.PrachumMaleenont NominatingCommittee

3. Mrs.RatchaneeNipatakusol NominatingCommittee



Scope of authority of the nominating Committee

The Nominating Committee has scope of authority and responsibility toward the Board of

Directorsasfollows:

1. TodetermineproceduresandcriteriatonominatedirectorsoftheCompanyincludingtop

managementoftheCompanyfortransparencypurpose;

2. Toselectpersonsqualifiedfornominationasnewdirectorortopmanagement;

3. ToprovideopiniontotheBoardofDirectorsandtoreporttheresultofperformancetothe

BoardofDirectorsregularly.

Performance of duty of the nominating director

In2007,theNominatingCommitteeconvened2meetings.

naMe-FaMily naMe


1. Miss.RatanaMaleenont 2/2

2. Mr.PrachumMaleenont 2/2

3. Mrs.RatchaneeNipatakusol 2/2

noMinaTion oF direCTorS and eXeCuTiVe oFFiCerS

The Company’s articles of association provide that the Company shall have not less than 5

directorswherenotlessthanhalfofwhichshallhavedomicilewithintheKingdom.Directorsshallbe

appointedfromtheshareholdersmeeting.Ateveryannualgeneralshareholdersmeeting,thereshallbe

onethirdofthedirectorsshallretirefromthedirectorshipbyrotationonterm.Nominationofdirectors

shallbeinaccordancewiththeCompany’sarticlesofassociationwhichprovidethateachshareholder

shallhavevoteequivalenttothenumberofsharesheldbyhim/her.Theshareholdersmayexercisetheir

rightstocastallvotestoselectoneormoredirectors,buttheymaynotsplittheirvotes.Thecandidates

whoreceivehighestscoresrespectivelyshallbeappointedasdirectorsinthenumberrequiredforsuch

term.Incasewherethepositionofdirectorisvacantforanyreasonotherthanbytermrotation,the

articlesofassociationprovidethattheappointmentofdirectorstofillinsuchvacancyshallbeundertaken,

unlesstheremainingtermofsuchdirector is lessthan2months. Inthisconnection,theNominating

CommitteeshallproposenametotheBoardofDirectorsforappointment.Withrespecttonomination

oftheexecutiveofficers,theselectionprocessmaybeconductedbysupervisorinchainofcommand,or

throughtheNominatingCommittee,dependingupontheposition.however,inthepast,itwasveryrare

forachangeinthepositionofexecutiveofficers.

CoMPenSaTion oF direCTorS, ManaGeMenT and audiTorS in 2007

Monetary Compensation for the directors and Management

In2007,therewasnochange inthestructureoftheCompany’smanagement. Attheend

of2007,theCompanyhad12directors(the2007annualgeneralshareholdersmeetingappointedMr.

MatthewKichodhantobeoneadditionaldirector)andhad15executiveofficerswhere7ofwhichwere

alsotheCompany’sdirectors.



TheCompany’sdirectorsandmanagementreceivedmonetarycompensationasfollows:

(a) Compensationtodirectors

ThecompensationwasBaht15,336,000intheformsofmeetingallowanceandremuneration.

(theremunerationfordirectorsisfixedatBaht15,000,000increasedfromtheprioryearBaht3millions).

(b) Aggregateamountofcompensationtoexecutiveofficers

ThecompensationwasBaht45,817,674intheformsofsalary,bonus,vehicleallowanceand

contributiontoprovidentfund.

Table showing compensation to directors in 2007.

In2007,theBoardofDirectorsconvened5meetings,theAuditCommitteeconvened6meetings

andtheNominatingCommitteeconvened2meetings.Theamountofcompensationcanbesummarized

asfollows:

name-Family name Meeting remuneration Total allowance

1. Mr.VichaiMaleenont 40,000.- 2,082,000.- 2,122,000.-

2. Mr.PrasanMaleenont 20,000.- 1,227,250.- 1,247,250.-

3. Mr.PravitMaleenont 16,000.- 1,227,250.- 1,243,250.-

4. Mr.PrachumMaleenont 20,000.- 1,227,250.- 1,247,250.-

5. MissRatanaMaleenont 28,000.- 1,227,250.- 1,255,250.-

6. MissNipaMaleenont 20,000.- 1,227,250.- 1,247,250.-

7. MissAmphornMaleenont 20,000.- 1,227,250.- 1,247,250.-

8. Mrs.RatchaneeNipatakusol 28,000.- 1,227,250.- 1,255,250.-

9. Mr.ArunNgamdee 44,000.- 1,100,000 1,144,000.-

10. Mr.PrathanRangsimaporn 44,000.- 1,000,000 1,044,000.-

11. Mr.ManitBoonprakob 44,000.- 1,000,000 1,044,000.-

12. Mr.MatthewKichodhan 12,000.- 1,227,250 1,239,250.-

other compensations, such as, stock option plan, debenture or other benefits which the

managementreceivedfromtheCompany

-None-

Payment of audit fee

The payment of the audit fee

In2007,theCompanyandsubsidiarypaidtheauditfeetoofficeoftheauditorinthetotal

amountofBaht5,303,000,higherthantheamountapprovedbythe2007annualgeneralshareholders

meetingatBaht60,000sinceduring2007,asubsidiarywithinthegroupenteredintoajointventurewith

SenerioCompanyLimitedunderthenameof“BEC-TeroSenerioJointVenture”.Therefore,therewasan

auditfeeadditionalfromthatapprovedbythe2007annualgeneralshareholdersmeeting.

Payment of non audit fee

-None-



Corporate Governance

CorporateGovernance(CG)ComplianceReport

BECWorldPLC

2007

SeCTion 1 Shareholder riGhTS

1. TheBoardofDirectorshasimposedCGpolicyregardingshareholderrightandshareholder

treatmentasfollows:

(1) TheCompanyshallrespectandbeawareofshareholdertreatmentandallgroupsof

interestedpartywithhonest,equalityandfairness.

(2) TheCompanyshalloperatethebusinesswithtransparency,availableforexamination,

havingenoughinformationtodisclosetoallrelatedpartiescorrectly,notmisleadingin

materialinformation,providingallinformationwithinduetimeandthoroughly.

TheBoardofDirectorshascontrolledtheCompany’ssecretarialworksandtheInvestorRelations

(“IR”)UnittoapplyCGpolicytoprotectshareholderrightsandalsoencourageallshareholderstoexercise

theirrightsi.e.righttoreceivedividends,righttoreceiveupdatedcorporateinformationdisseminated

viatheStockExchangeofThailand’sELCIDsystemandtheCompany’swebsite,www.becworld.com,to

enableallshareholdersandinvestorstoreceivesuchinformationwithinduetime.Thereshallbesufficient

informationbeneficialfortheirinvestmentdecisionsandtoencourageshareholderstoexercisetheirrights

toattendthemeetings,castingtheirvotingrights,sharingtheirviewsinshareholdersmeetingincluding

exercising their rights to vote for director appointment, director compensation, auditor appointment

and auditor fee, including, exercising their rights to make decisions on material transactions, having

considerableimpactontheCompany.

2. TheBoardofDirectorshascontrolledtheCompany’ssecretarialworksandtheIRUnitto

lookaftershareholders’rightsmorethanthoserequiredbylaws,suchas,therighttoreceivesufficient

informationtomakedecision,whichshallbeupdated,correct,completeandtransparent.Todisseminate

theinformationcomprehensivelyandwithinduetime,theBoardofDirectorshasarrangedtodisseminate

theinformationontheCompany’swebsite,www.becworld.com,includingtoallowtheshareholdersto

visittheCompany.TheCompanyhasmadePRnewsregardingbusinessdevelopmentofthegroupin

theformsofbusinessand/orentertainmentnewsbroadcastedonThaiTVChannel3,whichhasbeen

operatedbythegroup,newsinbusinessandentertainmentsectionsofnewspapers,allofwhichhave

beenhighlyeffectiveandreadilyaccessiblemediaforpeoplenationwide.

3. Forthe2007AnnualGeneralShareholdersmeeting,theCompanyfacilitatedallshareholders

to exercise their rights in attending the meeting and casting their votes without any restriction or

deteriorationoftheshareholder’srightstoaccesstheCompany’s informationrequiredfordisclosure.

There was no distribution of additional information without prior notice, no additional agenda or

amendment of any material information. The Company also allowed shareholders who came late to

attendthemeeting.

4. TheCompanyhasinformedinformationregardingtheresolutionoftheBoardofDirectors

tocallforthe2007AnnualGeneralshareholdersmeetingthroughELCIDsystembyattachingdraftof

theinvitationnoticeoftheshareholdersmeetingasapprovedbytheBoardofDirectors,thecontents


ofwhichcontainedtheinformationrelatingtodate,time,placeandagendasofthemeetingaswellas

resolutionsoftheBoard,whichhadbeensent35daysinadvancepriortotheshareholdersmeetingdate

anddisseminatedthroughtheCompany’swebsiteimmediatelyafternotifyingtheparticularstotheSET.

5. TheCompanyhasassignedThailandSecuritiesDepositoryCo.,Ltd.(“TSD”),whichhasacted

astheCompany’sShareRegistrartodelivertheinvitationnoticescallingfortheshareholdersmeetingto

shareholderswithin12daysinadvancepriortotheshareholdersmeeting.

6. TheCompanyhasdiscloseditsinformationviatheCompany’swebsite,andupdatedthe

information consistently to enable the shareholders to reviewand study theCompany’ s information

thoroughthischannel.

7. Inthe2007shareholdersmeeting,theChairmanallocatedthemeetingtimeproperlyand

allowedtheshareholderstoexpresstheirviewsandmakeenquiriestothemeetinginaccordancewith

theagendasfreely.ThedetailsofwhichcanbeviewedfromtheshareholdermeetingMinutesonthe

Company’swebsite.

8. In the 2007 shareholders meeting, Chairman of various Sub-Committees comprising

Chairman of the Audit Committee and Chairman of the Nominating Committee also attended the

meeting,givinganopportunitytotheshareholderstomakeenquiriesinallrelatedmatters,thedetailsof

whichcanbeviewedfromtheShareholdermeetingMinutesontheCompany’swebsite.

9. TheCompanyisawareoftheimportanceofunlawfulutilizationofinsiderinformationwhich

createsunfairnessagainstshareholders.TheBoard,therefore,hassetapolicyinrelationtothismatter

andnotifiedalldirectors,managementandmanagementofficersinvolvingsuchinsiderinformationfor

acknowledgement.Inthisconnection,anyperson,havingknowledgeoffinancialstatusoftheCompany

anditsgroup,includinganyotherinformationhavinganeffectonthetradingpriceoftheCompany’s

stock,whichhasnotbeenpubliclyavailableshallnotenterintoanysaleorpurchasetransactionofthe

Company’s stocksat least2weeksbeforeannouncementof theoperating result ineachquarteror

beforefilingsuchinformationtoSET.Alldirectorsandmanagementresponsibleforfilingreportofstock

acquisitionwiththeOfficeofSECshallsubmitcopyofthesaidreporttotheBoardconsistently.In2007,

everyoneprovidedfullcooperationandfullycompliedwiththeCompany’spolicy.

10. TheBoardhasset“aConflictofInterestPolicy”byrequiringalldirectorsandmanagement

includingallrelatedpersonsofthedirectorsandthemanagement,havinganyinterestinanytransaction

enteredintowithanycompanyinthegroup,shalldisclosesuchinformationtogetherwithalldocuments

totheCompanySecretaryimmediatelyuponlearningitinordertoproposeittotheCompany’sBoard

ofDirectorsforacknowledgementanddecisionforbenefitoftheCompanyasawhole.Toenablethe

Companytobeindependentinmakingdecision,directorormanagementwhohasaconflictofinterest

shallnottakepartinmakingadecisioninatransactionbetweentheCompanyandhim/herself,asaperson

whohasaconflictofinterest.In2007,theCompanyenteredintoconnectedtransactionsinrelation

toleasingofthepremiseinMaleenontTowerbuildings,aconnectedtransactionofashorttermlease

agreement,notexceeding3years,andaservicesupportordinarybusiness.Theapprovalwasmadefor

transactionstobemadetwotimessincetheLeaseAgreementhadtwocommencementperiodswith10

monthsdifference.ThesaidconnectedtransactionsfellwithintheexceptionundertheSET’snotification

regardingconnectedtransactionwhichwaswithintheauthorityoftheCompany’sBoardofDirectors

Corporate Governance (Continued)


toconsiderandapprovethesaidconnectedtransactionsbydisclosingthe informationtotheSET. In

consideringthesaidconnectedtransactions,theCompanyhaddulycompliedwiththeCompany’spolicy,

i.e.,theindependencerules, includingtheconditionsandrulesstipulatedinthenotificationregarding

connectedtransactionsbyarrangingalldirectorswhohadconflictofinteresttoleavetheMeetingsevery

timetoenabletheremainingdirectorstobeindependentinmakingdecisions...

SeCTion 2 eQual TreaTMenT To all ShareholderS

Inthe2007shareholdersmeeting,theCompanyseriouslypaidattentiontoequaltreatmentto

allshareholderswithoutdiscrimination.TheCompanydulycompliedwithCGguidanceimposedbythe

OfficeofSECandSETbyholdingashareholdersmeetingonApril27,2007,havingdetailsasfollows:

Before the Shareholders Meeting

1. TheCompanyhasgivenallshareholdersanopportunitytoexercisetheirrightsbyopening

communicationchannelforthemtocontacttheCompanyandtheBoardthroughtheCompany’swebsite,

www.becworld.com,orIRUnitate-mailaddress:[email protected]

theCompanyoffice,MaleenontTowerBuilding.Shouldanyshareholderwishtoexpresshis/heropinion,

suggestionormakinganyenquiry,heorsheshallhavetherighttodosoviatheabovemethods.Upon

receivinganymatterfromtheshareholder,theCompany,bytheCompanySecretaryoffice,maypropose

thesaidmattertotheCompany’sBoardofDirectorsforconsiderationwithinduetimepriortotheBoard’s

callingforannualgeneralshareholdersmeeting.

In2007and2008,minorityshareholdersneitherproposedanymatter tobe included inthe

agendasofthemeetings,norproposedanypersontobenominatedasdirector.

2. TheCompanyhasestablishedtheIRUnittocontact,coordinate,manageandprovideany

informationforshareholdersandgeneralinvestors.TheIRUnithasorganizedvariousactivitiesbeneficial

toshareholdersandgeneralinvestors.,(pleaseseepage81).however,theCompanyhasnotexploited

theSET’sELCIDsystemtonotifytheshareholders.

3. In case any shareholder proposes any agenda, the Company will receive and consider

onlyagendawhichwouldbebeneficial toall shareholdersasawhole,notagainst the relevant laws

orregulationsanditispossiblefortheBoardtoimplementit.Ifso,itwouldbeincludedinagendafor

theshareholdersmeetingaccordingly,includingdirectoropinionregardingsuchrelevantagenda.With

respecttodirectorappointmentproposal,NominatingCommitteewouldconsiderqualificationsofthe

candidateproposedbyshareholderinaccordancewithselectionprocessimposedbytheCompanyprior

toproposingtotheCompany’sBoardforconsideration.

4. In case theBoard considers anymatter proposedby shareholder anddeems that it is

notadvantageoustoshareholdersasawhole,or it is thematterproposedbytheshareholderwithin

shortperiodandnotpossibletoconsideritinaccordancewiththeprocess,includingincaseofdirector

appointment,ifthereisnosufficienttimetoconsiderthequalificationsinaccordancewiththeCompany’s

criteriaandisnotpossibletoproposethemattertotheBoardofDirectorsMeetingwithinduetime,the

BoardwillassigntheCompanySecretarytocontactsuchshareholdertoclarifythereasonforrefusalof

suchmatertobeincludedintheagenda,ortonominatethecandidateproposedbytheshareholderto

theshareholdersmeeting.



5. Other than invitation letters for shareholders meeting and supporting documents for

shareholdersmeeting, theCompanyshalldeliverproxy forms togetherwithexplanationofall related

documentsrequiredtobepresentedbyshareholder/proxyforshareholdermeetingregistrationattached

withtheinvitationletters.

6. WithrespecttofilingofinformationwiththeSETregardingresolutiontocallforthe2007

annualgeneralshareholdersmeeting,theCompanyhadinformedtheshareholdersthattheCompany

would post the original invitation letters together with relevant supporting documents, proxy and

explanationofthedocumentsrequiredtobepresentedbytheshareholders/proxybeforecommencement

oftheMeeting,andtheannualreport,withthesamecontentsofthosesenttoallshareholdersinhard

copybothinThaiandEnglishontheCompany’swebsite35daysinadvancebeforethemeetingdate.

IfanyshareholderwishedtoreviewtheinformationbeforetheMeetinginadvancepriortoreceivingthe

invitationletterandsupportingdocumentsinhardcopyformsentbyregisteredmail,he/shecouldreview

itbyaccessingtheCompany’swebsitewheretheThaiversionandtheEnglishversioncouldbeviewed18

dayspriortotheMeetingdate.Forthe2006annualreport,itwaspostedonwebsite14daysafterthe

2006GeneralAnnualMeeting.

7. TheCompanyhasappointedTSDtobetheCompany’sShareRegistrartodeliverallinvitation

letterstoallshareholders.In2007,theCompanydeliveredallshareholderstheinvitationletters12days

inadvancebeforetheshareholdermeetingdate.

8. The Company has encouraged all shareholders to exercise their rights in attending the

meeting and casting their voting rights. TheCompanyhasdelivered all formsof proxy letters to all

shareholdersfortheirconvenience.Inthecasewhereanyshareholdercannotattendthemeeting,the

Companywouldgiveanopportunitytosuchshareholderstoappointhis/herproxytoattendthemeeting

onhis/herbehalf,orappointingMr.ManitBoonprakob–anindependentdirectorappointedbytheBoard

tobeanalternateproxy.TheCompanyhasencouragedshareholderstousetheshareholderproxyform

tocontroltheirvotes

Inthe2007ShareholderMeeting,bothThaiandforeignshareholders,particularlytheinstitutional

shareholders,appointedMr.ManitBoonprakobtobetheirproxiestoexercisetheirvotingrights.

9. TheCompanyhaspublishedtheinvitationlettersforthe2007AnnualGeneralShareholder

Meetingin“Kaohoon(StockNews)”newspaperfor3consecutivedays,approximately1weekbeforethe

Shareholdermeetingdatetocallfortheshareholdersmeeting.

10. Withrespecttotheinvitationlettersforthe2007annualgeneralshareholdersmeeting,the

Companyhasarrangedfordisclosureofinformationsupportingeachagendaproperlyforconsideration

asfollows:

• agenda for director appointment:preliminaryinformationofeachcandidate(such

asprefix,name,age,directorcategory,educationalbackground,experienceincluding

anyinformationwhichmaycauseaconflictofinterestagainsttheCompany’sbusiness)

positioninothercompanies,listofformerdirectorsproposedbytheBoard,director

performanceinlastyearanddirectoropinionsforshareholders’consideration.In2007,

appointmentofanadditionaldirectorwasrequestedandproposedbytheNominating

Committee,i.e.,Mr.MatthewKichodhan.



• agenda for director compensation:theCompanyinformedtheamountandcategory

of director compensation, reasons to adjust director compensation, comparison

betweenthedirectorcompensationthisyearandlastyear.TheCompanyfixedthe

directorcompensationinmonetaryformonly,notinanyotherformsofbenefits.The

Boardwasallowedtoconsider theircompensationvoluntarilyand reasonably. The

Boardproperlydiscussedandexpressedtheirviewsforshareholders’decision.

• agenda for auditor appointment and auditing fee: the Audit Committee has

proposednamesoftheformerauditorandauditingfirmandalsoexplainedreason

for appointing the former auditor. The Audit Committee focuses on importance

of auditor independence, considering appropriateness of auditing fee incremental

includingreasonablerateofauditorfee.TheBoardofDirectorshasrequestedenough

informationineachagenda,providingtheirownopinionforshareholders’decision.

• agenda for dividend allocation, transfer of legal reserved fund and premium

share to compensate accumulative loss: Thedividendpaymentpolicy is shown

onpage1oftheannualreport.TheBoardofDirectorshasclarifiedreasonofunpaid

dividendallocation,effectsontheCompanyandshareholders.TheBoardofDirector

has proposed the shareholders meeting to consider each agenda, respectively, to

enabletheCompanytopaydividend.TheBoardofDirectorshasarrangedfordetails

ofeachagenda,anddirectoropinionbeshownsufficientandclearforshareholders’

decisions.

11. Incaseanyshareholderhasanyqueryregardingcorporateagenda,theshareholdermay

send the question relevant to the agenda to the Board of Directors in advance before the Meeting

date by sending a letter to the Company’s Board of Directors, or contacting through IR Unit or the

CompanySecretaryorsendingthequestion(s)viatheCompany’swebsite.however,in2007,therewas

no shareholder(s), submittinganyquery regarding theMeetingagendas to theBoardofDirectors in

advancebeforetheshareholdersmeetingdate.

annual General Shareholder Meeting, april 27, 2007.

1. Tofacilitateallshareholders,theCompanybroughtcomputersystemstoassistinregistering

theshareholdersattendingthemeeting,includingprintingofvotingcards,specifyingdetailsofattendees

andnumberofshareshavingvotingrights,byeachagenda.

2. TheCompanyconvenedtheshareholdersmeetinginaccordancewiththedate,timeand

placeaspreviously informedall shareholders,withoutany immediatechangeofmeetingplacewhich

mightcausesomeshareholderstobeunabletoattendthemeeting.

3. Therewere10directorsattendingtheshareholdersmeeting.WhiletheChairmancould

notattendthemeeting,ChairmanoftheAuditCommitteeandChairmanoftheNominatingCommittee

includingalldirectorsof theCompanyattended themeeting. ViceChairmanactedas theChairman

oftheshareholdermeeting.Inaddition,theCompanyinvitedauditorandlegalcounselortojointhe

meetinginordertoclarifyandanswerthequestionsoftheshareholders.

4. TheChairmaninformedthatthequorumwasdulyconstitutedtocommencethemeeting

andalsoclarifiedofthevotingrightprocedurestoallshareholdersintheshareholdersmeeting.



5. TheCompanydidnotaddanyadditionalagendaswithoutnotifyingtheshareholdersinthe

shareholdersmeeting.

6. TheChairmanconductedthemeetinginaccordancewiththeorderofagendasspecifiedin

theinvitationlettersenttoallshareholderswithoutanychangesoraddition.

7. With respect to voting, theChairman informed themeeting touse votingcard ineach

agendafortransparency,andproperforexaminationincaseofanydispute, ifsubsequentlyraisedby

anyshareholders.TheCompanypreparedvotingcardsforeveryagenda,excepttheagendafordirector

appointment,wherevotingcardwasusedpereachindividual.

8. Agenda for director appointment, the Chairman proposed the meeting to consider

directorappointmenttoreplacethedirectors,underrotationretire,byproposing listofcandidatesto

beconsideredbythemeetingonebyonetoenabletheshareholderstoexercisetheirrightstovotefor

directorappointment.

9. The Chairman conducted the meeting orderly and properly allocated the meeting time

foreachagendaenablingallattendeestofreelyexpresstheirviews,suggestionincludingmakingany

inquiryordoubtinvariousmattersregardingmeetingagendaoranyrelatedmatters.TheChairmanalso

allocatedreasonabletimefortheexecutivedirector(s)andthemanagement(s)inclarifying/answeringall

questionstoallattendees.Torespectallshareholders’rights,theChairmanhadtocontrolthemeeting

andthetimespentinaneffectiveway.Foranyquerywhichwasnotirrelevanttothemeetingagendaor

theCompany,theChairmanwouldanswersuchqueryafterthemeetingwasadjourned.

after the Shareholders Meeting date

1. The Company Secretary was responsible for preparing the minutes of the shareholders

meeting, specifying date, time and place; a quorum, divided by a number of shares, a number of

shareholdersandproxy,listofdirectorsandmanagementswhoattendedthemeeting,votingprocedure,

agendaandresolutionofeachagenda,classifiedasagreed,disagreedorabstained,includingqueries/

suggestionfromshareholderstogetherwithcorrectandcompleteanswersfromtheBoardofDirectors.

2. TheCompanyhasproposedmeetingminutesoftheBoardofDirectorstotheshareholders

meetingforconsiderationandcertificationbeforesubmittingthesametoSETwithin14daysfromthe

shareholders meeting date and also subsequently submitted the same to the Ministry of Commerce

togetherwithsubmissionoftheannualfinancialstatement.

3. AfterfilingtheminuteswithSET,theCompanywoulddisseminatetheshareholdersmeeting

minutesontheCompany’swebsite. Foryear2007, theCompanyhasdisseminatedtheshareholders

meetingminutesontheCompany’swebsitewithin14daysaftertheshareholdersmeetingdatesothat

theshareholderswhodidnotattendthemeetingwould learndetailsofthemeetingandenablethe

shareholderswhoattendedthemeetingtoexpresstheirviews.

SeCTion 3. roleS oF inTereSTed PerSonS

TheCompanyisawareoftheimportanceandrolesofallinterestedpersongroupstowardthe

Company.Therefore,theBoardhassetroleofinterestedpersonsinCGpolicywhichtheCompanywill

respectalloftheirrightsandprovidefairtreatmenttoallgroupsofshareholdersandinterestedpersons



withhonest,equality,fairnessandawarenessofrightsofallinterestedpersonsbyformingthepractical

policyasfollows:

1) Arranging forCodeofConduct inwrittendocuments for directors,managements, and

employees to understand ethics which the Company applies to operate the business

includingmonitoringthecompliancewiththeCodeofConduct.

2) Settingaunittoberesponsibleforinterestedpersontreatmentineachgrouptoensure

thatthereisaresponsibleunittoactuallyapplythesaidCodetointerestedpersons.

3) Imposingrightsofeachgroupofinterestedpersonaincludingrolesanddutiesofeachunit

towardeachgroupofinterestedpersons.

interested person treatment

• Treatment for Company shareholders: the Board has assigned the IR Unit and the

CompanySecretarytoberesponsiblefortakingcareofshareholdersandinvestors.Theexecutiveshave

setapolicyforshareholdertreatmenttorealizerightsofshareholdersandtreatthemwithfairnessand

equality,encourageshareholderstoexercisetheirrightstooperatebusinessotherthanseekingonlyprofit

forshareholdersinformofdividends.TheBoardalsopaysattentiontoenhancevalueofbusinessentity

andprosperityforshareholdersinlongtermperiodbydeclaringpolicytopaydividendsatleast90%of

netprofit.

• Treatment for internal interested persons:i.e.employeeandmanagementofCompany

groupwhicharethemostvaluableassetsoftheCompany.TheBoardhasassignedhRdivisiontotake

careallemployeestoreceivereasonablecompensation,givingfairtreatment,encourageallemployees

todeveloptheirownknowledge,capacityandexperiencetobesuitablefortheirdutiestosucceedin

theirworks,arrangegoodenvironmentforworking.Foremployeebenefits,theCompanyhasarranged

thegroup insurance (i.e. life insurance,accident insuranceandhealth insurance),other thanbenefits

providedunderthelaborlaw.Notonlysocialsecurity,theCompanyhasalsoprovidedprovidentfund,

annualhealthcheck-upanduniform,etc.TheBoardhasarrangedanintranetsystemtoincreaseinter-

communicationwithinorganization.Duringtheyear2007,theoilpricewasincreasedcausingtheincrease

ofthecostofliving,theBoardhasconsideredtoincreasethelivingcostforemployeestobesuitablefor

theeconomiccondition.Inaddition,theBoardhasapprovedforadditionalbenefitstoemployeeswho

workin3southernprovincesofThailandasfollows:1)increasingtheamountoflifeinsurance10times

morethannormalemployees;2)allocatingaspecialallowancefor3,000–4,500Baht/person/month;

and3)providingflackjackettoeveryone.Also,theBoardhassupportedallemployeeswhohavefaithin

Buddhismtopracticeinthedharmawithoutregardingastakingleaves.

• Treatment for TV producers or TV operators or actors:Forthosewhoarequalified

TVproducerforchannel3,theBoardhasassignedTVprogramDivisiontotakecareallofthemequally.

DuetoTVairtimelimitsandhighnumbersofTVproducers/operatorsandactors,themanagementhas

toallocateairtimeproperlyforallTVproducers/operatorsequallytoallowthemtohaveopportunity

togenerateincomeandtoTVactorstomaintaintheirpopularities.Incaseofhavingagreements,the

TVprogramDivisionhastoensurethestrictcompliancewiththeagreements,suchas,completeand

punctualpaymentofcompensation.Inaddition,theTVProgramDivisionhassupportedvarioustraining



programs i.e. training for new TV producer, legal training by copyright experts to protect their own

rights.

• Treatment for Customers:i.e.advertisingagency,productowners,TVprogramsponsor.

CustomersshouldreceiveupdatedinformationonTVprogramsandTVprogramchartfortheirefficient

businessplanning.SaleDivisionisresponsibleforcustomermanagement.TheBoardhaspolicytotreat

customerswithhonestandsinceritybyfacilitatingthemwithrapid,crediblecommitmentandkeeping

confidentiality.DistributionofinformationinrelationtoTVprogramstocustomersmustbeefficient,i.e,

theinformationshallcontainmaterialinformationsufficientformakingdecision,thedistributionmustbe

comprehensive,equal,andtimelysincecommercialairtimeislimited.

• Treatment for Creditors: theBoardhasapolicytotreatallcreditorsequallybyassigning

AccountingDivisiontoberesponsibleformonitoringofdebtpaymentandstrictandtimelycompliance

withtermsandconditionsunderrelevantagreementtomaintaingoodcommercialrelationship,reputation

andimageofthebusiness,includingmitigatingfromanypotentialpenaltyarisingfrombreachofcontract.

In2007,theCompanyfullycompliedwithallagreementswithcreditors.

• Treatment for Competitors:themanagementhasapolicytogivefairtreatmenttoall

TVprogramcompetitorsequallyandingoodfaithandlawfulbydevelopingqualityofTVprogramsand

efficiencyofTVsignal.CompetitorisasignificantfactortodrivetheCompanytocontinuouslydevelop

qualityofproductsandservices.In2007,theCompanydidnothaveanydisputewithanycompetitor.

• Treatment for Community / Society: theBoardhasapolicytoconductthebusiness

with morality and support Thai society without focusing on profit only. Therefore, any TV program

broadcastedbyChannel 3, offers not only entertainment but also knowledge andmorality, such as,

dramaseriesbroadcasteddonotfocusonlyentertainmentbutalwayshavemoralconceptwithineach

series,e.g.,consequenceofconductingbusinessinbadfaith,havingbadattitudeagainstotherpersons,

etc.Inaddition,theCompanyhasalsoprovidedsomeusefulprogramsforwomanandkidstoencourage

Thaisocietytoacceptwomancapacityandpaymoreattentiontofamily,especially,nextgenerationof

oursociety.Furthermore,theBoardhaspaidattentiontothemediaethics.AsTVstation,whichis

thehighestefficientmediatodrawattentionfrompublicnationwide,werealizethatseekingvarious

TVprogramsmaycausesomeimpactsonsomegroupsofpeopleinsocietyorcommunity.TheBoard

hasassignedIRUnittoberesponsibleforpublicrelationsamongTVstations,communityandsocietyto

conveyourgoodattitudeandselectsuitableTVprogramstoentertainallviewersincludinglisteningto

allopinionsandsuggestionsfromsocietyandcommunityforfurtherimprovement.

• environment: the Board has a policy to operate the business without destroying

environment, but supporting all campaigns or organizations to preserve environment. In 2007, our

executivedivisions conductedsomeglobalwarmingactivitiesbycampaigning forusingclothingbag

insteadofplasticbagandpreparingcolorfulclothingbagsdistributedtoallattendeesinvariousactivities

heldbyChannel3.Inaddition,theCompanyattendedforestplantingprojectwithBAACtocreateand

returngoodenvironmentbacktoThaisociety,andalsocampaignedforusingpaperinmostefficientway

byusing2sidedpaperinoffice.



indeMniFiCaTion: theBoardhasimposedcompensationpackageforanyinterestedperson

whohasbeeninjuredfromtheCompany’sviolation.Insuchcircumstance,theCompanywillappointAd

hocCommitteetoconsidercompensationtoanyinjuredpersonsinreasonable,fairandefficientmeasure

tomitigatesuchdamage.

noTiFiCaTion or CoMPlainT For illeGal TranSaCTion: the Board has set clear

proceduresforanotificationandcomplaintofany illegaltransactionor immorality, incorrectfinancial

statementordefectiveinternalcontrolsystembynotifyingsuchmatter(s)totheInternalAuditOfficeto

examineandreportsuchmattertotheAuditCommittee,subsequently.Suchcomplaintshallbedeemed

to be “confidential information”, without disclosing name of the notifying or complaining person to

public.TheInternalAuditOfficewillconductaninvestigationofinformationandprepareareportofsuch

investigation.

ProCedure For ParTiCiPaTion oF inTereSTed PerSon:theBoardhassetprocedures

toallowallinterestedpersonstohaveparticipationbyrequiringrelevantunitsresponsibleforeachgroup

ofinterestedpersonstoarrangeforthemeetingandhearingfromeachgroupifinterestpersonsand

reportingtotheBoardofDirectorsandrelevantsub-Committeeforacknowledgementofopinionand

suggestionfromeachgroupofinterestedpersons.TheCompanySecretaryhasbeenassignedtobea

coordinator.Anyinterestedpersonmayreferanymatterinvolvingaproblem,opinionoranysuggestion

totheBoardandeverySub-committeethroughtheCompanySecretarydirectlyorviaCompanywebsite.

Inaddition,theBoardhascontrolledandmanagedalldivisionstodisclosesufficientinformationwithin

reasonabletimetoenabletheinterestedpersonatohaveparticipationinanefficientway.

SeCTion 4 inForMaTion diSCloSure and TranSParenCy

TheBoardhaspaidattention to informationdisclosureand transparency ruleby settingCG

Policy,undertheinformationdisclosureandtransparencysection.TheCompanywillconductbusiness

withtransparencyandauditableandshalldisclosesufficientinformationtoallrelatedpersonscompletely,

correctlyandnotmisleadingorconcealinganymaterialmatters.Theinformationtobedisclosedmustbe

updated,andthedisclosuremustbetimelyandwidelydone.

efficiency of information disclosure Process

TheCompanyhasdisseminatedallmaterialCompany’sinformation,bothfinancialinformation

and non-financial information correctly, completely, timely and transparently in accordance with the

regulationsprescribedbytheSETandSECthroughSETandtheCompany’swebsitebyupdatingsuch

information,consistently.In2007,theCompanycompiledallregulationscorrectlyanddidnotsubject

toanypenaltyinrelationtotheoffenceofnon-disclosure.Todevelopinformationdisclosuresystemin

efficiencyway,IRUnithasevaluatedefficiencyofsuchsystemandimposekeyfactorforsuchvaluation.

Withrespecttoreport/informationtobefiledwithindefiniteperiodi.e.filingonetimeperyear,orper

quarter, the Company attempts to expedite such submission to be faster and also provides efficient

informationregardingcompletenessandcorrectnessofcontentsanddisclosureofsufficientinformation

forthebenefitsofshareholdersandinvestors.TheCompanyhasalsodisclosedallinformationrequired



tobedisclosedundertheSETrulesforanalystsandmedia,viatheCompany’swebsiteassoonaspossible

toenableallinterestedpersonstoaccessthesaidinformation.Incaseofamistakeinpreparationand

disclosureoftheinformation,topreventarepeatedmistake,theCompanyshallprepareamemorandum

containing the issue of mistake and delay indicating reasons and resolutions for the benefits of

colleaguesandotherrelevantpersonstoreferanduseitforconsiderationinplanningforthesubsequent

disclosure.

inForMaTion diSCloSure in 2007 annual rePorT:Otherthanprovidingallinformation

in56-2formofSEC,theCompanyhasalsodisclosedthefollowinginformation:

(1) Informationregardingofdirectorduties

-– BoardofDirectors,specifiedinpage66

-– AuditCommittee,specifiedinpage68

-– NominatingCommittee,specifiedinpage69

(2) Directorcompensationshallbepaidinmonetaryform,especiallyforthecurrentdirector,

actingasdirector,executivecommitteedirectoranddirectorinsub-Committeeonly.TheCompanywill

notpayanyconsiderationtothedirectorinconductingotherduties.DirectorCompensation,isshownon

page70.

(3) Directortrainingbackgroundisshownonpage103-108.

QualiTy oF FinanCial rePorT: TheBoardhasmadedirectorresponsibilityreportregarding

financialreportsignedbyChairman,tobeproposedtoshareholders,asspecifiedinannualreportpage

24togetherwithauditorreport,havingessentialcontentsasfollows:

-– Complyingwithgenerallyacceptedaccountingprinciples,suitableforbusiness,applying

properaccountingpolicywhichhasbeenconstantlycomplied.

-– Financial reporthavingcorrect, completeand truecontents inaccordancewith the

accountingstandard.



ir unit

The Board has established IR Unit under direct control of Finance Division, responsible for

preparation and submission of reports in accordance with regulations of the SET and SEC including

disclosure of material information, both financial information and non-financial information, such as,

notifying of material resolutions of the Board of Directors i.e. resolution to call for the shareholders

meeting, fixing the date of closing share register book, and dividend payment, and etc., to provide

informationandnewsontheCompany’sactivitiestocommunicatesuchinformationtoallshareholders,

investors,securitiesanalystandalsogeneralpublicwheretheinformationtobedisclosedtimelymustbe

correct,completeandupdated.

TheBoardhasappointedMr.ChatchaiThiamtong,VicePresidentofFinanceDivision,tobethe

authorizedpersontosigninfilingofinformationapplicationformviainformationdisclosuresystemof

SET,andtobearepresentativeoftheManagementDivisioninprovidingtheCompany’sinformationto

shareholders,investors,analysts,pressreportersandrelatedgovernmentauthorityincludingclarifyingon

anyrumorbydisclosinginformationwithrespecttotheCompany’sdevelopmentinaccordancewithSET

regulationsregardinginformationdisclosureoflistedCompany.

In addition, IR Unit is a coordinator between TSD and the Company Registrar to render

registrationservice(s)forshareholdersandclosingofshareregisterbook,preparationandsubmissionof

variousdocumentstoshareholdersviamailincludingpreparationandsubmissionofdividendcheckor

transferringdividendtoshareholdersbankaccount.

TheinvestorscancontactIRUnitat:

IRUnitlocatedat

30thFloor,MaleenontTower

No.3199,Rama4Road,Klongton

Klongtoey,Bangkok10110

Tel:0-2262-3635

Fax:0-2262-3170

E-mailaddress:[email protected]

CoMMuniCaTion Channel oF The CoMPany: The Board has supported IR Unit by

giving an opportunity to all shareholders, investors, analysts and reporters to access the Company’s

information throughvariouschannels, suchas, through theCompany’swebsite,www.becworld.com,

otherthanthroughtheSETmedia,todisclosetheCompany’sinformationtopublicwidely,whentheIR

UnitdistributesanyCompany’sinformationtomedia,analystsandinvestorsregardinginformationinthe

businessindustryandtheCompanygroup,theCompanyshallpostthesaiddocumentsontheCompany’s

websitebothinThaiandinEnglishversionsothatanypersonmayfollowupontheCompany’sinformation

andthebusinessindustryconsistently.

havingdetailsasfollows:

• Vision,informationregardingtheCompanymanagement,letterfromChairman,structure

oftheCompany’sBoardofDirectorsandshareholdingstructure,showingrealshareholding

structure;



• Annualreport,invitationletterforshareholdersmeetingandrelateddocumentstobesent

toshareholders

• Showingthesamedocumentsassenttoshareholdersviaregisteredmailbypostingsuch

informationontheCompany’swebsiteinadvancepriortodeliverythesaiddocumentsvia

registeredmailtocallforshareholdersmeeting

• Shareholdersmeetingminutes shall bepostedon thewebsitewithin 14days after the

shareholdersmeetingdate;

• FinancialstatementandnewswhichtheCompanydistributesthroughSETsystem.Such

informationshallbepostedafterfilingitwithSETthroughELCIDsystem;

• Informationforanalystsandinvestorsinanyinvestormeetingshallbepostedsothatthe

disclosureoftheCompany’sinformationiswidelymade.

ir activities

in 2007, ir unit arranged and joined the following activities:

• Analyst meeting and press conference at head office, totally 4 times by holding such

activities in thenext followingworkingdayafterfilingfinancial statementof2006and

financial statementof1st–3rdquarterof2007 togiveanopportunity to theanalysts

andmediatomeetthemanagement(s)oftheCompanytoreceiveinformationincluding

clarification about the operating result, with analysts and media directly. During every

meeting, Mr. Pravit Maleenont, an executive director, always attended the meeting to

provide information regarding business trend and the Company’s policy and Mr. Surin

Krittayapongpan,MarketingandSaleDirectorofBangkokEntertainmentCo., Ltd., also

joinedinsuchmeetingtoprovideinformationaboutentertainmentbusinessarea.

• TheCompanyhelda specialmeeting foranalystsatSukothaihotel inMarch to inform

effectsonamendmentofaccountant record inaccordancewithaccountingpolicywith

respecttorecognizingofinvestmentinsubsidiariesorassociatedcompaniesintheincome

statement,whichconvertedfromequitymethodtocostmethod,includingunderstanding

ofdividendpaymentprocedurewithinMay2007.

• Joining activities entitled “Opportunity Day” held by SET by attending 3 meetings with

minorityinvestors.

• Inaddition,theCompanyjoinedsomeactivitiesheldbysecuritiescompaniesi.e.onMarch

2007, joiningJPMorganThailandConference2007atSukothaihotelBangkok,onMay

2007, joining“DBSVicker:DBS7thAsiaCorporateConference”,NewYork,U.S.A,and

meeting“CLSACorporateAccessForum”,inSingaporeonSeptember2007,CLSAInvestors’

Forum2007inhongKong,alsojoiningThailandFocus2007“PlatformsofGrowth”held

bySET,PatharaSecuritiesandMerrillLynchatPlazaAtheneeBangkokonOctober,joining

TISCOCorporateDay:TelcoandMediaSectorOne-on-OneConference,atTISCOSecurities

BangkokonNovember,joiningDBSAsiaCorporateConferenceDays,NewYork–Boston

heldbyDBSVicker,U.S.A.whichMr.PravitMaleenont,theexecutivedirector,occasionally

joinedthosemeetingstomeetforeigninvestors.



• Inaddition,givinganopportunity to institutional investors,both localand international,

tovisitbusinessentityandmeetexecutivedirectors,consistently,especiallyafterfilingthe

operatingresultreportwithSETwhereroughlytherewere2institutionalinvestorsvisiting

theCompanyperweek.

Plan for conducting ir activities for 2008,havingdetailsasfollows:

1. Toarrangefortheanalystsmeetingandpressconferencefortheoperatingresultatthe

Company’sheadoffice,everyquarterbyconductingsuchactivitiesonthedateafterfiling

financialstatementwithSETthroughELCIDsystemandwithSEC.

2. TomeetwithminorityinvestorsatSETeveryquarterbysettingthedateforsuchmeeting

around30-45daysdifferentfromthemeetingwithanalysts.

3. TogiveanopportunitytolocalandinternationalinvestorstovisittheCompanyandmeet

executivedirectorsattheconvenienceofexecutivedirectorswhichshallnotbe2weeks

beforereleasingthefinancialstatements.

4. Toattendinvestoractivitiesasinvitedbysecuritiescompanies,bothlocallyandinternationally

tomeetallinvestors.ThetentativeplansaretoattendtheactivitiesforAsianinvestors,to

beheldineitherhongKongorSingapore,approximatelytwice,andonceinEuropeand

onceinUSA.

SeCTion 5 direCTorS reSPonSiBiliTieS

1. Structure of Board of directors

1.1 Thereare12membersofBoardofDirectors,comprising7executivedirectorsand5

nonexecutivedirectorsprovidedthatamongthosedirectors,thereareatleast3independentdirectorsto

complywiththeCGrulesoflistedcompanywhichisenoughtocheck,balanceandaudittheCompany’s

management. To make CG policy more efficient, the Board of Directors deems there should be a

restructuringoftheBoard’sstructureduetoseverecompetitioninentertainmentbusiness.Toprepare

forsuchcompetition,theBoardagreestoincreaseanon-executivedirector,byassigningtheNominating

Committeetolookforaqualifiedcandidatewithsuitablebackgroundtobeanewdirectorprovidedthat

theappointmentofsuchnewdirectorhastofollowandcomplywiththeCompany’scriteria.The2007

GeneralAnnualShareholdersmeetingunanimouslyresolvedtoincreaseanewdirectorasproposedby

theNominatingCommittee

1.2 TheBoardhasappointedtheNominatingCommitteetoassisttheBoardinlookingfor

qualifieddirectorandmanagementoftheCompanybysettingminimumcriteriaandqualificationsfor

qualifiedcandidatetobeamanagementanddirectoroftheCompanyinaccordancewiththeprescribed

officialandtransparentrulesandmethods.Incasedirectorcompleteshisdirectorshipterm,theCompany,

bytheNominatingCommittee,shallselectthequalifiedcandidatetobeproposedtotheshareholders

meetingforconsideration.In2007,therewasnoproposalfromminorityshareholderstonominateany

personasadirectorcandidate(s).



1.3 TheBoardofDirectorsconsistsofexecutivedirectors,havingskills inentertainment

business where one of independent directors is senior professional in academic area, and the other

director is a skillful professional person in account and financial area. Every director has competent

knowledgeandqualificationswithdiversifiedexperiences,morality,honestyandwillingnesstousetheir

bestendeavorfortheCompany.Allofthedirectorshaveperformedtheirdutieswithbestcapacityand

dedicatedthemselvesfortheCompany.ListoftheBoardofDirectorsandtheirresponsibilitiescanbe

viewedonpage64-67.

1.4 The Chairman also assumes the position of Chief Executive Officer (CEO) as well.

however, inpractice,ChiefOperatingOfficer(COO),who isalsotheSeniorExecutiveVicePresident is

delegatedtomanagetheCompany.Chairman,CEOandalldirectorswillco-operateandindividuallyworkin

theirownposition,separately.ChairmanwillbepolicyleaderandCEOwillbeleaderofmanagements.

1.5 TheBoardhasimposedqualificationsof“IndependentDirector”oftheCompanyby

applyingcriteriawhichismorestringentthantheminimumcriteriaoftheSECbysettingshareholding

ratiolessthan3%oftotalvotingshares(enactedbySEC).Thedefinitionof“IndependentDirector”is

shownonpage65.

1.6 There are 7 executive directors and1non-executive director,who aremembers of

Maleenont family, amajority shareholderof theCompany,holding totally57% in theCompany. The

remainingsharesareheldbyminorityshareholders.

1.7 Fordisclosureof informationof theBoard’ s structure, it is shown in2007annual

reportpage64,66,whichclearlyindicatesnon-executivedirectors,independentdirectorsandexecutive

directors.

1.8 The term for directorship both director and Sub-committee, are 3 years, without

limitationofnumberofterms.

1.9 AstheexecutivedirectorshavenormalroutinemanagementworksintheCompany

andsubsidiaries,assumingthepositionofdirectorinothercompaniesmaydisrupttheroutineworks.The

Boardthereforehassetapolicythatexecutivedirectormayassumethepositionofdirectorinother

companieswhichtheCompanyhasmadeinvestmentandhasconditionofsendingrepresentativetoact

asdirectorstojointlycontrolandmanagethecompany.Fornon-executivedirector,heshallnotassume

thepositionofdirectorinothercompaniesmorethan5listedcompanies.however,ifitisnecessaryto

assumethepositionofdirectormorethan5companies,suchdirectorhastoobtainpriorapprovalfrom

theBoardofDirectors,exceptincaseofanewdirectorwheresuchnewdirectormustnothavebeena

directorinmorethan5companiesbeforeassumingadirectorshipintheCompanysothatthedirector

shallhavesufficienttimetoperformhisduty.Pleaseseefurtherdetailsofeachdirectoronpage103-108.

In2007,noneofthedirectorsassumedthepositionofdirectorsmorethan5listedcompanies.

1.10AstheseniormanagementhasnormalroutinemanagementworksintheCompany

andsubsidiaries,assumingthepositionofdirector inothercompaniesmaydisrupttheroutineworks.

TheBoardthereforehassetapolicyrequiringtheseniormanagementtoseekapprovalfromtheBoard

ofDirectors.Theapprovalshallbegrantedifassumingthepositionofdirectorinothercompaniesdoes



notaffecttheworksunderhisresponsibilityandthereshouldbelimitationofliability.Inthepast,the

CompanyusedtograntapprovaltoafinancedirectortobeanindependentdirectorandAuditCommittee

inalistedCompany.Now,noneoftheseniormanagementisadirectorinotherlistedcompanies.

1.11TheBoardhasappointedVicePresident,FinanceDivisiontobetheCompanySecretary

andarrangedforadequatenumberofofficerstoassisthiminperformingtheCompany’ssecretarialworks.

ThemaindutiesoftheCompanySecretaryarerenderinglegaladviceandrelatedruleswhichtheBoard

shallbeawareof,toconductthedutyinthebestinterestoftheCompany(i.e.lawsrelevanttobusiness

operationoftheCompanyandgroupandmaintenanceofstatusoflistedcompanyinSET),responsible

foractivitiesoftheBoardofDirectors,andothersub-Committees(i.e.,meetingarrangement,preparation

andkeepingofminutesandsupportingdocuments,proposinganytrainingprogramfortheBoardand

coordinatingtoprocessandfacilitatetheseminarregistrationfortheBoard),includingfollowingupthe

compliancewiththeresolutionsoftheBoardofDirectorsand/or/sub-CommitteeincludingassigningIR

Unittohandleallactivitiesofshareholders,analystandinvestoractivities.

2. Sub –Committee

2.1 TheAudit Committee consists of 3 independent directors, oneofwhich has good

knowledge,understandingandexperienceinaccountingandfinancearea.

2.2 TheBoardofDirectorshasapprovedroles,duties,responsibilitiesandCharterofthe

AuditCommitteeinwriting.

2.3 QualificationsoftheAuditCommitteeareincompliancewithregulationsofSETand

SEC.

2.4 TheAuditCommitteehasconsistentlyreportedtheirperformanceresulttotheBoard

ofDirectorsateverymeeting.Further,thereportofpastyearperformanceisalsoshownintheannual

reportpage4-5.

2.5 TheBoardofDirectorsdidnotappointanysub-Committeetoconsidercompensation

packagefordirector.Toconsidercompensationfordirector,theBoardofDirectorshasconsideredthe

matterbasedoninformationprovidedbytheSETrelatingtocompensationtodirectoroflistedcompany

and proposed the consideration result to the shareholders meeting, as shown in invitation letter for

consideration.

2.6 TheNominatingCommitteeconsistsof3executivedirectors, listoftheNominating

Committeenamesareshownonpage68.

2.7 TheBoardhasappointedtheNominatingCommitteetolookforqualifiedcandidate

tobeappointedasdirectorandseniormanagementasspecifiedintherelevantrulesandprocedure

2.8 TheBoardhasapproved roles,duties, responsibilitiesorCharterof theNominating

Committeeinwriting.

2.9 TheNominatingCommitteehasreportedtheperformanceresultasassignedtothe

BoardofDirectors.



roles, duties and responsibilities of the Board of directors

TheBoardhasconsidered,andapprovedallsignificantmattersregardingcorporatemanagement

suchasvision,strategy,financialtarget,risk,budgetplan,control,managementincludingsuperviseand

control Management Division to conduct the business in accordance with the policy and strategy in

efficiencywaytoenhancebusinessvaluefortheCompanyandshareholdersincludingforthebenefitsof

allrelatedparties.

TheBoardofDirectorshasarrangedallcommunicationsregardingstrategy,objective,corporate

performance to directors, executive directors, employees to acknowledge and understand fully by

arranging the meetings to clarify the executive and managing division through executive committee

meetingtoletallexecutivestoknowandconveysuchknowledgetoalldivisionsandunitsundertheir

control.TheBoardhasdividedpowerofeachdirectorandtheManagementDivisionclearly,asshownin

SectionManagementStructure,page64,65,67.

FromtheCompanyvaluation,wefoundthattheCompany’soperatingresulthasreachedthe

Company’s targetas set in2007. TheCompanysucceeded inobtaininghigherprofit than last year,

approximately37%andalsoincreasedmarketshareofadvertisementincomehigherthanlastyeararound

3%,i.e.25%oftotalmarketvalue.Inaddition,theratioofTVviewersishigherthanlastyear2-3%even

thoughoverallThaieconomichasbeendeclining.

CG Policy: The Board has paid attention to CG policy by following up the development

of compliance with the CG policy, also updating evaluation report regarding problems and business

obstaclesandgivingreasonablecommentsandsuggestionincludingimprovingthesaidpolicyasdeemed

appropriate.

The Board has set CG policy in written documents for all employees in the organization to

acknowledgeandcomplywithsuchpolicy.TheBoardhasassignedhRDivisiontosetupsomeactivities

tocampaignandpromotetheCGpolicytoallemployeestocomplytherewith,suchas,settingupan

announcementboardforpostinganyknowledgeinformation,communicationthroughintranetsystem

andreviewthesaidpolicyatleastonceayeartoupdatesuchpolicy.

Afterfollowingupcomplianceofthepolicy,wefoundthatemployeeshaveadjustedtheirattitudes

andacceptedtheimportanceoftheapplicationoftheCGruleswithintheorganization.Employeeshave

appliedtheCGpolicytowelladaptwiththeirdutiesresultinginchangesoforganizationculturetomeet

internationalstandardintermsofmanagement,andtransparency.

Code of Conduct: TheBoardhaspreparedwrittenCodeofConduct,consistingof6Sections

i.e.1)CodeforCustomer;2)CodeforCompany;3)CodeforOurselves;4)CodeforSupervisor;5)Codefor

Colleague;and6)Codeforpeopleundercontrol,asshownintheEmployeehandbookalreadydistributed

toallemployeestoenabledirectors,managementandallemployeestounderstandthesaidCodeof

Conduct,whichtheCompanyhasappliedinconductingbusiness.TheBoardofDirectorshasprovided

intranetsystemforcommunicationandpublicrelationofgoodconductswithinorganization.Shouldany

employeehaveanyqueries,heorshemaypostsuchqueriesontheweb-boardthroughIntranetsystem.

In addition, communication through internal e-mail system can also be done as well. hR Division is

responsibleforcampaigningittoencourageallemployeestocomplytherewithbypreparingnoticeboard



toannouncenewsandrelevantinformationattheemployeerestareaandthroughtheIntranetsystem.

Initially,theCompanyexplainedandcommunicatedwithemployeestounderstandobjectiveoftheCode

ofConductwhereinrealityallemployeeshadalreadybeenawareofitandcompliedtherewithbefore

itwascompiledandmadeitinwritingbyhRDivision.Now,informationandnewsrelatingtotheCode

ofConductdistributedandpresentedofteninvolveissueandcasestudyoftherealeventstobeusedas

aguidelineforemployees’duecompliance.Thepresentationcontainsinterestingpresentation,friendly

discussion,slidepresentationandcolorfuldocuments,andetc.

AllemployeesvoluntarilyfollowwiththesaidCodeofConduct.TheCompanyencouragesthem

torealizethevalueofCodeofConductcompliance.Inaddition,headofeachunitalsoplaysimportant

roleinsuchencouragementsincehe/sheisfamiliarwithallemployeesunderhis/hercontrol.Supervisor

hastogivesuggestionsincludingstimulateemployeesunderhis/hercontrolandsupervisiontostrictly

complytherewithandshallevaluateanappropriatenessofCodeofConductaswell.In2007,therewas

noproblemintheapplicationandcompliancewiththeCodeofConduct.

Potential Conflict of interest Transaction: TheBoardofDirectorshas imposedcriteriaof

“ConflictofInterest”issuebyinstructingdirectorsandmanagements,havingdirectandindirectinterestin

enteringintoanybusinesstransactionwiththeCompany,toclarifysuchdetailswiththeBoarduponbeing

awareofthesaidtransaction.Inaddition,duringconsiderationofthesaidconflictofinteresttransaction,

allinteresteddirectorsshallnotattendthemeetinginsuchagendaandlettheremainingdirectorshave

independentviewtomakeafinaldecisionaboutsuchtransaction.Regardingpotentialandsignificant

conflictofinteresttransaction,theBoardshallassigntheindependentdirectorstoreviewandscrutinize

suchmatters,subsequently,proposingconsequenceoftheirconsiderationtotheBoardofDirectors.In

casetheBoardhasnoexpertisetoconsiderthesaidconnectedtransaction,theBoardcouldassignan

independentexpertorcorporateauditortoprovidetheirownopinionregardingthesaidtransactionas

supportinginformationfortheBoardofDirectorsorshareholders.In2007,theCompanyenteredinto

aconnectedtransaction,namely,RentalAgreementwithMillionairePropertyFundtoleaseMaleenont

Towerbuildingsasofficespacewhichisdeemedtobe“aconnectedtransaction,3yearsshort-termlease

categoryandsupportingroutineservices”.TheBoardhasconsideredthesaidconnectedtransaction2

timessincetheRentalAgreementshave2expirydateswithapproximately10monthsdifference.The

saidconnectedtransactionsfellwithintheexceptionofSETnotificationregardingconnectedtransaction

andarm’slengthdoctrine.ItwaswithinthescopeoftheCompany’sBoardofdirectorstoexclusively

considerandapprovesuchtransactionwithouthavingtoconveneashareholdersmeeting.however,the

CompanyhadtodisclosesuchtransactiontotheSET.Duringthesaid2meetings,alldirectorshaving

conflictof interest left themeetingsprior to commencingof suchagenda. The remainingdirectors,

independently, consideredandapproved the said transactions. Inaddition, those2 transactionshad

alreadybeenreviewedandconsideredbytheindependentdirectors,wherehisopinionhadalsobeen

submittedtotheBoardofDirectorsforconsideration. TheCompanyalsofiled informationdisclosure

throughELCIDsystem,disclosingsuchdetailsinfinancialstatement,correctly,includingthedisclosurein

theannualreportpage94.



internal control:TheBoardofDirectorshasestablishedan“InternalAuditOffice”(IA)tobe

responsibleforinternalaudit,developingworkflowtobeindependentunitinconductingitsownactivities,

whichshalldirectlyreporttotheAuditCommittee.TheBoardhasarrangedforestablishmentofsystemof

managementcontrol,financialreportandrulesandpolicycompliance.TheInternalAuditOfficehasaduty

toexamineandauditofthecomplianceoftheinternalcontrolsystemanddevelopworkflowincluding

makingreporttotheBoardofDirectors.Inaddition,theInternalAuditOfficewillevaluateasufficiency

andappropriatenessof the internalcontrol systemand internalaudit tobeproposedto theBoardfor

consideration,atleastonceayear.IAhadsubmittedthereportregardingsufficiencyofinternalcontrol

systemandinternalauditfortheyear2007totheBoardofDirectors,datedJanuary31,2008whichcan

concludethat,intheyear2007,theCompanyfullycompliedwiththesaidrulesandregulations.

risk Management Policy:TheCompanyhassetariskmanagementpolicytocoverorganization.

AllDivisionsshallparticipateinriskmanagementprocessbylettingeverymanagertosurveypotential

problemsinhisowndivision,suggestgoodsolutiontopreventandeliminateproblemsandrisk,givea

guidelinetominimizepotentialdamages.TheInternalAuditOfficehasbeenassignedtobethemain

authoritytoco-ordinatewithallunitsintheorganizationforriskmanagementandreporttotheBoardof

Directorsperiodically,particularlyinacasewherethereisachangeofrisklevel.TheBoardofDirectors

hasalsofocusedongivinganadvancealarmsignalofanyunusualtransaction.Inaddition,theInternal

AuditOfficeisrequiredtoreviewthesystemandtheefficiencyofriskmanagementevaluation,atleast

onceayearandreporttotheBoardofDirectorsandallrelevantmanagements.In2007,therewasno

transactionwhichmightcreatesignificantriskontheCompany.

Board of directors Meeting

1. The Company Secretary prepared a memorandum notifying of all meetings in advance

throughouttheyear,bysendingittoalldirectorsattheendofDecember,lastyeartoenablealldirectors

toallocatetheiravailabletimesforallmeetings.

2. TheCompanyhasdeterminedtoconveneBoardofDirectorsmeetings,atleast5timesper

year.Themainagendaofthe4meetingsshallbetheagendaofapprovingtheoperatingresultbefore

disclosingittopublic,andtheremainingmeetingshallbetheconsiderationtoconveneanannualgeneral

shareholdersmeeting.In2007,therewere5meetings.(Detailsofthemeetingsareshownonpage66.

3. ChairmanandSeniorExecutiveVicePresident,shalljointlyconsiderandselectagendatobe

proposedtotheBoardofDirectorsmeetingonwhereeachdirectorshallhavetherighttoproposehis

agendatothemeeting,independently.

4. TheBoardofDirectorshasassignedtheCompanySecretarytodeliversupportingdocuments

to all directors in advance, approximately one week, to enable them to have enough time to study

all information. Supportingdocumentsshallhavematerial informationsufficientforconsideringeach

agenda.Inthepast,therehadbeensomeproblemsregardinglatedeliveryofsupportingdocuments.

Theproblemwassolvedbydeliveringonlycompletedocumentsofrelevantagendatoallshareholdersin

advancewheretheremainingdocumentswouldbedeliveredthereafter,assoonaspossible,butatleast

3daysbeforethemeeting.



5. TheBoardofDirectorsmayinvitemanagementoranyperson(s)involvingineachmatterfor

enquiryofanydetailsduringthemeeting.

6. During the meeting, the Chairman shall allocate reasonable time for all agendas. The

Chairmanshallcommencethemeetingbygivingopportunitiesforalldirectorstoindependentlyexpress

their own opinion. All directors shall have rights to raise issue to be considered, give opinion and

suggestions, independently. Themeetingwillhearallopinionandcommentsbeforemakingdecision

basedonreasons,justificationandappropriateness,especiallyinimportantagenda.Tohavecorrectand

mutualunderstanding,theChairmanwillsummarizearesolutionattheendofeachagenda.Generally,

ittakes3hoursapproximatelyforeachmeeting,whichisdeemedtobepropertimefortheBoardof

Directorstoconsiderthematterthoroughly.

7. Afterthemeeting,theCompanySecretaryshallberesponsibleforpreparingtheminutesof

themeetingtobecompletedwithin14days.TheCompanySecretaryshallreviewtheminutestoensure

thatitshallcontainrelevantdetails,namely,date,time,listofattendingdirectors,summaryofallagendas,

alldiscussionsandremarks,opinion,suggestionofeachdirector,resolutions,.(foracasewherethereis

nounanimousvote,nameandopinionofdirectorwhodisagrees(ifany),mustalsobeincluded),name

ofthepersonwhorecordstheminutes,nameoftheCompanysecretarywhoreviewstheminutes),allof

whichmustbeclearandcomplete.TheCompanySecretaryisindependentinconsideringtheaccuracy

andcompletenessoftheminutes..TheCompanyhascustomarypracticetocertifytheminutesatthe

subsequentmeeting. Amendmentof theminutescannotbemadewithout themeeting’sapproval.

Then, the minutes duly certified shall be sent to the Chairman for signing. The Company Secretary

shallinformrelevantdivisionstoacknowledgedetailsofresolutionsforduecomplianceandreportthe

complianceresulttothemeetingaccordingly.

8. The Company Secretary shall be responsible for keeping all invitation letters, meeting

minutesandsupportingdocumentsandarrangeforgoodfilingsystemforeasysearchingandretrieval.

9. Number of the Board of Directors meetings is suitable for nature of director duty and

businesstypesincetheChairmanandexecutivedirectorshallselectandgatherallagendasrequiredfor

theBoard’sapprovaltobeincludedin5mainmeetingsasscheduledatthebeginningofeachyear.Ifit

isnecessarytoconveneadditionalmeeting,suchadditionalmeetingmaybeconvenedasappropriate.

10. SincetheBoardofDirectorsmeetingisnotconvenedeverymonth,theCompanySecretary

shallprepareareportoftheCompany’soperatingresultandsubmitittotheBoardofDirectorsevery

month.

11. Ifnon-executivedirectorsdeemsproper,theymayconvenethemeetingasnecessaryamong

themselveswithoutattendanceofexecutivedirector,todiscussanyproblemandsubsequentlyinformthe

managingdirectoroftheresultofthemeeting.



evaluation of director Performance: theBoardofDirectorshassetadirectorevaluationto

assesstheirownperformance,atleastonceayear,byevaluatingalldirectorperformance,individually.

TheBoardhasmutuallysetthecriteriaforsuchassessmentbyusingtheformsdevelopedfromsamples

advisedbytheSET.Afterreceivingtheevaluationresult,theBoardwilldeterminedirectiontoimprove

workingprocess.In2007,theevaluationwasconductedonFebruary19,2008.

director Compensation : TheBoardofDirectorshassetapolicytopaysufficientcompensation

fordirectorsuitableforeconomiccondition,directorresponsibilities,operatingresultandnatureofbusiness,

byimposingthecriteriafordirectorcompensation,namely,1)comparingwithdirectorcompensationof

otherlistedcompaniesinthesameindustry,orthosehavingsimilarincomeorprofit;2)Operatingresult

oftheCompany;3)reasonablecompensation,suitableforobligation,dutyandresponsibilityofdirector.

Thedirectorwhohasmoredutiesandresponsibilitiesshallreceivemorecompensation.Theprocedure

forreviewingdirectorcompensationannuallyistransparent.TheBoardwilljointlyconsiderthedirector

compensationattheBoardofDirectorsmeetingandsubmititforfurtherapprovalintheshareholders

meeting. All compensation shall be paid in monetary form only. Please see Management Structure”

page70.

Ceo Compensation: the Board of Directors shall consider and approve compensation for

CEObytakeintoaccountofduty,responsibility,performanceandbusinessprofitoftheCompany.The

BoardshallevaluateCEOperformancebycomparingwiththeannualbusinesstarget.Tocomplywiththe

targetedbusinessplan,themanagementshallpresentbusinessoperationinformationandbusinessplan,

preparedinadvance(CEOhastopresentsuchdocumentsattheBoardofDirectormeetingeverytime

andbeforemakinganewbusinessplannextyear).TheCEOperformanceassessmentshallbeconducted

everyyear.

director and Management development: In2007,theCompanyhadanewadditionalnon-

executivedirector,whoalreadypassedDCPprogramofIOD.

TheBoardhasassignedtheCompanySecretarytocompileandpreparedocumentsusefulfor

newdirectorduty,i.e.legalinformationregardingconductingCompanybusiness,lawsrelatingtovalidity

oflistedCompanyinSET;orientationforbusinesscharacter,businessguidancefornewdirector,Company

structure,BoardofDirectors,pastoperatingresultandhRinformation.

Withrespecttothecurrentdirectors,theBoardofDirectorshasencourageddirectorsandsenior

managementstoattendtrainingprogramconsistentlytodeveloptheirskillsinvariousfieldstoenhance

theircapacities.TheCompanySecretaryhasbeenassignedtolookforgoodtrainingprogram(s)tobe

proposedtoeachdirectorforconsideration.

Sincethepast2years,theBoardofDirectorshassupportedtheCompanySecretarytoattend

DCPprogramorganizedbyIOD,andencouragedIRofficersandinternalauditofficer,responsibleforCG

matter,toattendCGtrainingprogram.



Successive Plan for Company Management: TheBoardofDirectorshassetsuccessiveplan

forcompanymanagement.TheBoardofDirectorsfocusesondevelopmentofdirectorandmanagement

capacity,bypreparingsuccessiveplan.TheCompanyhasalreadypreparedcandidatesorsuccessorfor

Chairman,CEO,COO,VicePresident,temporarilyandpermanently,byappointingseniorexecutivetobe

temporarysuccessortoreplaceinimportantposition.Withrespecttopermanentcandidateorsuccessor,

theNominatingCommittee shall consideroncasebycasebasis. In2007, theCompanyapplied the

successiveplantemporarilyonlywhenChairmanandCEOwerenotcapableofattendingtheshareholders

meeting.

SuPerViSion on The uSe oF inSiderS’ inForMaTion

TheCompanyhaspolicyofprohibitingexecutivestouseinternalinformationoftheCompany

fortheirownbenefitsincludingtradingofCompany’ssecurities.TheCompanyhasalreadyinformedall

executivesandemployeessuchpolicyandpracticalguidelinesaswellasrecommendationoftheStock

ExchangeandtheSecurityandExchangeCommissiononthemattersinorderforthemtobeawareofthe

expectingstandardandtostrictlycomplythereof.TheCompanyinstipulatedthattheexecutivesmust

immediatelyreporttotheCompanyincaseoftradingoftheCompany’ssecurities.Suchreports(ifany)

shallbecollectedandrepresentedtotheBoardofDirectorsatthefollowingmeeting.Theexecutives

arenotallowedtousesuchinformationfortheirownbenefitortodiscloseinternalsensitiveinformation

totheoutsidersorthosepersonshavingnorelateddutytoaccesssuchinformation.Themanagement

andallexecutiveofficersareaskednottotradetheCompany’ssecuritiesbeforedisclosureoffinancial

statementtothepublic.

Inaddition,clause1.4inthesection“ethicstothecustomer”,topic“ethicsoftheemployee”

as stated in the employee’s manual prescribes that the employees shall keep customer’s information

confidentialandshallnotusethemforpersonaladvantage.Clause3.5prescribesthatemployeesshall

notusetheirauthorityandpositiontotakeadvantagefortheirownsake.

PerSonnel

TheCompanybelievesintheimportanceofappropriatemanpowerallocationtakingthesizeof

theCompanyintoaccountandpreparationforthefutureplan.On31December2007,theCompany

grouphastotalof1,748employeesdividedbythecourseofworkasfollows:

Televisionbroadcastingandmedia 1,141 persons

Sourcingandproducingdocumentaries, 131 persons

entertainmentprogramme

Radiobroadcasting 51 persons

ProductionofShows,Music,and 354 persons

CampaignActivities

ChainandSupportingBusinesses 71 persons

Total 1,748 persons



Suitableremunerationistheessentialfactorinpromotingpersonnel’scourageandmoraleas

wellasbuildinguptheirloyaltytotheorganizationinalongtermbasis.TheCompanyconsiderspaying

thetotalremunerationtotheemployeesfortheyear2007inanamountofBaht946,000,000consisting

ofsalary,overtimeexpenses,allowance,bonus,contributiontotheprovidentfund,medicalallowance

andotherwelfares.

AstheemployeesaredeemsasvaluableassetsiftheCompany.TheCompanypaysattention

totherecruitmentofefficientpersonnelaswellastheirdevelopmentwhichwillleadtotheimprovement

ofpotentialoftheCompanyinthelongtermbasis.TheCompany,therefore,hasapolicytopromote

thedevelopmentofskilloftheemployeesbyarrangingthemtoattendmanyseminarsmatchingtotheir

courseofworkwhichareorganizedbyexternalorganization. hRDepartmentalsosetupa training

coursewithintheCompanybyrotatingtoalldepartmentsasdeemedappropriate.Fortheyear2007,

thegroupCompanyhasorganizedvariouscourses,i.e.,DevelopmentofWorkSystemandPreparation

ofKPI,Leadership,CommunicationTechnologyforTVStation,RiskManagement,SaleandMarketingin

MultimediaAge,ConceptDesign,GeneralEnglish,3DArchitecturewithAutodeskViz,ethicsforliving

happilylife,etc.TotalcostoftrainingandseminarforthepastyearisapproximatelyBaht0.79Million

(excludingseminarfeeorganizedbytheCompanygroup).

inTernal ConTrol

TheCompanyhassetupandmaintainedeffectiveinternalcontrolsysteminordertoreasonably

ensurethataccountingdataisrecordedwithcorrectness,accuracyandadequacy,assetsaresafeguarded

aswell as no frauds andmalpractices are precluded. The Board ofDirectors has also appointed the

AuditCommitteeandtheInternalAuditOfficetoreviewandexaminetheadequacyandthesuitability

oftheinternalcontrolsystemoftheCompanyanditssubsidiaries,toidentifyinternalcontrolweakness,

torecommendimprovementandpreventingmeasures,tomanagerisksoftheorganization.Toprovide

independenceofoperationofInternalAuditOfficeandobtaincooperationfromallranksofstaff,the

BoardofDirectorshaspublishedcharteroftheAuditCommitteeandthecharteroftheInternalAudit

Officetokeepallstaffsthoroughlyinformed.

TheAuditCommitteeholdsmeetingswiththeAuditorandtheInternalAuditorsonaregular

basisatleaseonceeveryquartertodiscussandaccessadequacyandsuitabilityofinternalcontrolsystemof

theCompanyanditssubsidiaries.TheAuditCommitteealsoreportstheiroperationandrecommendation

inimprovingthesystemsaswellasthefollowingupofsuchrecommendationstotheBoardofDirectorsin

theBoardofDirectorsMeeting.TheAuditCommitteeandtheBoardofDirectorunanimouslyagreethat

theinternalcontrolsystemoftheCompanyanditssubsidiariesisappropriateandadequate.Fullreportof

theAuditCommitteeisshownonpage4-5hereof.



The InternalAuditOfficehasbeenassignedby theBoardofDirectors toassess the internal

controlsystematleastonceayearandreporttheresulttotheBoardofDirectorsviatheAuditCommittee.

Theresultofassessmentfortheyear2007asreportedthroughtheAuditCommitteeinJanuary2008

indicatesthattheCompanyhastheacceptableinternalcontrolsystemsaveasforsomeissuesthatcanbe

improved.SuchresultofassessmenthasalreadybeenpassedtotheExecutiveDirectorsandauditorfor

theiracknowledgementandimprovement.



Connected Transactions With Related Party Which

May Cause Conflict Of Interest In The Year 2007

In2007,BECWorldgrouphasenteredintosomeconnectedtransactionswithrelatedparties

whichmaycauseconflictofinterest, i.e.,renewalofLeaseAgreementinMaleenontTowerandother

expenseswithrespecttosuchleaseofpremises.

relaTed ParTieS WhiCh TranSaCTion TyPe oF May CauSe ConFliCT deTailS oF relaTionShiP Value TranSaCTion oF inTereST (Million Baht)

MillionairePropertyFund Directorsandexecutiveofficers 105.17 Costofsalesandservices

oftheCompanyaremajority

shareholdersofMaleenont 103.19 Sellingandadministrative

TowerCo.,Ltd. expenses(leaseagreement

MaleenontTowerCo.,Ltd.is notexceeding3yearsand

majorunitholderofMillionaire supportingtransactionfor

PropertyFund. normalbusinessoperation)

Total 280.36

neCeSSiTy and reaSonaBleneSS oF TranSaCTionS

Connected transactionsduring theprevious year arenecessary and reasonable transactions.

ForbenefitsoftheCompany,mostcommercialtermsandconditionsofsuchconnectedtransactionsare

betterthannormaltermsandconditions,basedongeneralmarketprice.Inaddition,remunerationpaid

thereundercouldbecomputedfromreferencevalueorpropertybycomparingwiththemarketpricein

thesamerentalarea.

ProCedureS or STePS For ConneCTed TranSaCTion aPProVal

Transactions are basedon necessity and reasonableness by significantly focusing on benefit

of theCompany. Providedalways that, remunerationpayable toanotherparty shall bea fairmarket

price.TheexecutivedivisionsshallproposeAuditCommitteetoconsiderandrenderopinionastoany

transaction(s) beyond their authority, and subsequently, propose to theBoardofDirector for further

approvalastheydeemappropriate.Detailsandproceduresforapprovalofconnectedtransactionsofthe

CompanyareasshowninSection5.1ofthisreport.

After entering into such connected transactions, the Company shall disclose connected

transactioninformationinaccordancewiththeregulationsofSET.Also,theAuditCommitteeshallreview

suchinformationdisclosureaswell.


PoliCy or Guideline For ConneCTed TranSaCTionS

TheCompanyhasapolicytoavoidenteringintoanyconnectedtransactionswithanyrelated

partywhichmaycause“ConflictofInterest”.In2007,therearesomeconnectedtransactionsi.e.renewal

ofLeaseAgreementtouseofficespaceinMaleenontTowerBuildings,whichtheCompanyhaspreviously

obtainedapprovaltorelocateitsprincipalofficefromEmporiumTowertoMaleenontTowerBuildingsby

theExtraordinaryGeneralShareholderMeetingonDecember16,2003.Thenecessitytoenterintosuch

connectedtransactionisthattheCompanyisrequiredtoseekforofficespacestoexpanditsbusiness

operation, andMaleenontTowerBuildings could serve suchpurpose,offering convenience, elegance

andalsomeetstandardofotherprimeofficebuildings,especially,for12-floorbuildingwhichhasbeen

distinctivelydesignedbythelessortosuitforoperationrequirementoftheCompanygroup.Rentalrate

isalsoatafairprice.

DuetotheCompanygrouphasspentaconsiderableinvestmentfordesignanddecorationof

theleasedpremisesinMaleenontTowerBuildingstoservetheirownpurpose,theCompanyhasapolicy

torenewtheLeaseAgreementofMaleenontTowerBuildingsandusevariousrelatedservices.Therefore,

forthebenefitofCompanygroup,connectedtransactionsasalreadyenteredintoaswellasthosetobe

enteredintointhefutureareinevitably,providedthat,theirtermsandconditionsarenormalbusiness

operationandsuchrentalandserviceratesarecomparablewithmarketpriceofotherparty.Inaddition,

theCompanywill regularlyassign independentexpertsand/orAuditCommittee (aspernecessity) to

consider, reviewandopineanappropriatenessofthepriceandreasonablenessforentering intosuch

connectedtransactions.

Connected Transactions With Related Party Which May Cause Conflict Of Interest In The Year 2007 (Continued)


Supplementary Data

DetailsofCompanieswhichtheCompanyholds10%ormoreofshares

1. The BanGKoK enTerTainMenT Co., lTd.

Business: OperatingbusinessofTVandradiostation.

registered Capital: Baht300million(30,000,000shares)*

BeC World holds: 2,999,992shares.

0ffice: 2ndFl.,MaleenontTower,3199RamaIVRoad,Klongton,Klongtoey,

Bangkok10110

Tel.(02)262-3333,204-3333;Fax.(02)204-1384

2. runGSiroJVaniT Co., lTd.

Business: Providing,producingTVprogrammesandsellairtimeforadvertising.

registered Capital: Baht5million(500,000shares)*

BeC World holds: 499,993shares.

0ffice: 2ndFl.,MaleenontTower,3199RamaIVRoad,Klongton,Klongtoey,

Bangkok10110

Tel.(02)262-3333,204-3333;Fax.(02)204-1384

3. neW World ProduCTion Co., lTd.




office: 2ndFl.,MaleenontTower,3199RamaIVRoad,Klongton,Klongtoey,

Bangkok10110

Tel.(02)262-3333,204-3333;Fax.(02)204-1384

4. BanGKoK TeleViSion Co., lTd.





Bangkok10110

Tel.(02)262-3333,204-3333;Fax.(02)204-1384

5. BeC inTernaTional diSTriBuTion Co., lTd.

Business: Providing,producingTVprogrammes,holdingCompany




Bangkok10110

Tel.(02)262-3333,204-3333;Fax.(02)204-1384


6. TVB 3 neTWorK Co., lTd.

Business: Providing,producingTVprogrammesandsellairtime.


BeC international distribution Co.,ltd. holds: 599,993shares.

office: 9thFl.,MaleenontTower,3199RamaIVRoad,Klongton,Klongtoey,

Bangkok10110

Tel.(02)262-3572;Fax.(02)204-1384

7. you & i CorPoraTion CoMPany liMiTed

Business: Producingradioprogrammes,operatingradiostationsandproducingpictures.




Bangkok10110

Tel.(02)262-3500;Fax.(02)204-1410

8. BeC STudio Co., lTd.**

Business: Producingprogrammesandstudioequipmentservices.




Bangkok10110

Tel.(02)262-3333,204-3333;Fax.(02)204-1384

9. BeC neWS Bureau Co., lTd.**

Business: Producingnewsprogrammes.




Bangkok10110

Tel.(02)262-3333,204-3333;Fax.(02)204-1384

10. BanGKoK SaTelliTeS & TeleCoMMuniCaTion Co., lTd.**

Business: Satelliteuplink-downlinkservices.




Bangkok10110

Tel.(02)262-3333,204-3333;Fax.(02)204–1384

Supplementary Data (Continued)


11. SaTelliTeS TV BroadCaSTinG Co., lTd.**

Business: SatelliteTVoperator.




Bangkok10110

Tel.(02)262-3333,204-3333;Fax.(02)204-1384

12. BeC BroadCaSTinG CenTer Co., lTd.

Business: ServicesTVprogrammestransmission




Bangkok10110

Tel.(02)262-3333,204-3333;Fax.(02)204-1384

13. BeC aSSeT Co., lTd.

Business: holdingandleasingassets.



office: 3rdFl.,MaleenontTower,3199RamaIVRoad,Klongton,Klongtoey,

Bangkok10110

Tel.(02)262-3759;Fax.(02)262-3780

14. BeC iT SoluTion Co., lTd.

Business: Informationtechnologyservice,retailofcomputerequipmentsand

maintenanceservice.



Office: 3rdFl.,MaleenontTower,3199RamaIVRoad,Klongton,Klongtoey,

Bangkok10110

Tel.(02)262-3759;Fax.(02)262-3780

15. BeC MulTiMedia Co., lTd.

Business: Investinmultimediabusiness.

registered Capital: Baht200million(20,000,000Commonshares25%paid-up)



Bangkok10110

Tel.(02)204–9999;Fax.(02)204-9970



16. BeCi CorPoraTion Co., lTd.

Business: InvestinInternetbusiness.




Bangkok10110

Tel.(02)204-9999;Fax.(02)204-9970

17. Thai audioTeX SerViCe lTd.

Business: ProvidingAudioInformationservicesviatelephone


BeCi Corporation holds: 1,499,995shares

office: 52/149SukhumvitSoi3,SukhumvitRoad,NorthKlongtoey,Wattana,

Bangkok

Tel.(02)204-9999;Fax.(02)204-9970

18. MoBi (Thai) Co., lTd.

Business: MobileEntertainmentService

registered Capital: Baht7.5million(1,500,000shares)*

BeCi Corporation holds: 899,995sharesandBEC-TEROEntertainmentholds:600,000shares.


Bangkok10110

Tel.(02)262-3800;Fax.(02)262-3801-2

19. diGiTal FaCTory Co., lTd.

Business: MobileEntertainmentService


BeCi Corporation holds: 509,995shares.


Bangkok10110

Tel.(02)262-3800;Fax.(02)262-3801-2

20. BeC-Tero enTerTainMenT PuBliC CoMPany liMiTed [RegistrationNo.40854600007]

(RegisteredtobePublicCompanyLimitedon12March2003)

Business: ProvidingandproducingTVprogrammesandsellairtimeforTVadvertising,

producingandpromotingsongsforconcert,producingpicturesandplays.

registered Capital: Baht250million(250millionCommonShares;Baht200millionpaid-up)

BeC World holds: 120,000,000shares(60%oftotalshares),sinceApril,1998

office: 25th-28thFl.,MaleenontTower,3199RamaIVRoad,Klongton,Klongtoey,

Bangkok10110

Tel.(02)262-3800;Fax.(02)262-3801-2



21. ThaiTiCKeTMaJor Co., lTd.

[Formerly:ThAITICKETMASTER.COMCO.,LTD.Registeredthechangedof

thecompany’snameinJune2007]

Business: Producingadvertisement,reservedandsellingshowticket.


BeC-Tero entertainment holds: 599,993shares.(whichis59.99%ofthepaid–upcapital)

(BEC-Tero has sold its investments 400,000 shares to MAJOR CINEPLEX

GROUPPCL.inJune2007)


Bangkok10110

Tel.(02)262-3800;Fax.(02)262-3801-2

22. VirGin BeC-Tero radio (Thailand) Co., lTd.

Business: Producingradioprogrammes,operatingradiostation

registered Capital: Baht49,960,800(4,996,080shares)*

BeC-Tero entertainment holds: 2,547,993shares.(RegisteredinJune2002)


Bangkok10110

Tel.(02)204-3500;Fax.(02)204-1410

23. SMBT PuBliShinG (Thailand) Co., lTd.

Business: Producing,tradingphonographdisk,videotaperecorderandsoundrecorder


December2007,BEC-Terohasdisposedofallinvestment11,997sharesto

themajorshareholder


Bangkok10110

Tel.(02)686-8000;Fax.(02)651-4994

24. TheMeSTar liMiTed

Business: Showorganizing

registered Capital: USD4,019.608(4,019.608shares)*

BeC-Tero entertainment holds: 51%inNovember2004,theninDecember2005decreased

theshareholdingproportionto40.00%

office: EastAsiaChambers,P.O.Box901,RoadTown,Tortola,

BritishVirginIslands

Tel.(02)262-3800;Fax.(02)262-3801-2



25. BeC-Tero eXhiBiTionS Co., lTd.

Business: Exhibitionorganizerandrelatingbusiness


BeC-Tero entertainment holds: 499,994shares.(RegisteredinJanuary2006)

(BEC-Terohadbroughtthesharesof“BEC-TeroExhibitions”fromminority

shareholders, resulting in the increase in shareholding proportion to

99.99%)


Bangkok10110

Tel.(02)262-3800;Fax.(02)262-3801-2

26. BeC-Tero arSenal Co., lTd.

Business: Managesafootballclubandrelatedbusiness

registered Capital: Baht18million(3,600,000shares,Baht5pershare,paidup75%)

BeC-Tero entertainment holds: 3,599,992shares.(RegisteredinFebruary2006)


Bangkok10110

Tel.(02)262-3800;Fax.(02)262-3801-2

27. Pena BeC-Tero Co., lTd.

Business: Operate retail business of selling merchandise under right of WARNER

BROS.inThailand.

registered Capital: Baht50million(5millionshares)*

BeC-Tero entertainment holds: 599,999shares.(RegisteredinJune2002)

office: 967SoiCharansanitwong46,CharansanitwongRd.,Bangyeekhan,

Bangplat,Bangkok

Tel.(02)434-6921;Fax.(02)434-7537

28. CVd enTerTainMenT PuBliC CoMPany liMiTed (RegistrationNo.0107536000978)[CVD]

Business: Distributionandrentalofvideotape,VCDandDVD


BeC World holds: 7,200,000shares(20%oftotalshares),sinceOctober,1997

office: 15thFl.MaleenontTower,3199Rama4Road,Klongton,Klongtoey,

Bangkok10110

homePagehttp://www.cvdgroup.com

Tel.(02)665-6705;Fax.(02)665-6750



29. CVd inTernaTional Co., lTd.

Business: Salesofcopyrightedvideotapes,videoCDsandDVDs


CVd holds: 19,999,990shares


Bangkok10110

Tel.(02)665-6705;Fax.(02)665-6750

30. CVd Media Co., lTd.

Business: Salesofmoviecopyrights




Bangkok10110

Tel.(02)665-6705;Fax.(02)665-6750

31. CVd MuSiC Co., lTd.

Temporaryceaseditsoperation

Business: SellmusictapesandCDstogeneralstores




Bangkok10110

Tel.(02)665-6705;Fax.(02)665-6750

note * : Commonshare-100%paid-up

** : Notyetoperation



Directors and Executives Data

1. Mr. ViChai MaleenonT

Position: ChairmanoftheBoard,ChairmanoftheExecutiveBoard

age: 88years

Work experience:

1995-Present ChairmanoftheBoard,ChairmanoftheExecutiveBoardand

ChiefExecutiveOfficerofBECWorldPlc.

ChairmanoftheExecutiveBoardandDirectorof

TheBangkokEntertainmentCo.,Ltd.

DirectorandAuthorizedDirectorof3subsidiariesofBECWorldGroup.

education: highSchoolDiploma

directors Training Program: None

Previous record in illegal dealing: None

Previous record in wrong doing on misuse of insiders’ information and inappropriate connected

transaction: None

holding of BeC World shares: 0.00%

Family relationship: MemberofMaleenontFamily

2. Mr. PraSan MaleenonT

Position: Vice-ChairmanoftheBoard,Vice-ChairmanoftheExecutiveDirectorand

ChiefOperatingOfficer

age: 64years

Work experience:

1995-Present Vice-ChairmanoftheBoard,Vice-ChairmanoftheExecutive

DirectorandChiefOperatingOfficerofBECWorldPlc

Vice-ChairmanoftheExecutiveBoardofTheBangkokEntertainmentCo.,Ltd.

Present DirectorandAuthorizedDirectorof18subsidiariesand2associates

ofBECWorldGroup.

Jan.1998-Present ChairmanoftheBoardandExecutiveDirector,BEC-TEROEntertainmentPlc.

Feb.2001-Feb.2007 ChairmanoftheBoardandExecutiveDirector,CVDEntertainmentPlc.

1997-Feb.2007 DirectorandExecutiveDirectorof5subsidiariesofCVDEntertainmentPlc.

education: BachelorDegree(BusinessAdministration)ElmhurstCollege,Illinois,U.S.A.

CertificateofNationalDefenseCurriculum

(JointGovernment/PrivateSectors)Class7

DirectorsTrainingProgram:CertificateofDirectorAccreditationProgram(DAP),

ThaiInstitutionofdirectorsAssociations(IOD)



transaction: None




3. Mr. PraViT MaleenonT

Position: Director,ExecutiveDirector–TelevisionBusinessand

SeniorExecutiveVicePresident

age: 61years

Work experience:

1995-Present Director,ExecutiveDirector–TelevisionBusinessand

SeniorExecutiveVicePresident,BECWorldPlc.

ManagingDirectorofTheBangkokEntertainmentCo.,Ltd.

Present DirectorandAuthorizedDirectorof7subsidiariesofBECWorldGroup.

education: BachelorofScience,EngineeringUniversityofIllinois,Chicago,Illinois,USA

Certificate of National Defense Curriculum (Joint Government/Private

Sectors)Class3

directors Training Program: CertificateofDirectorAccreditationProgram(DAP),


Previous record in illegal dealing:None


transaction: None



4. MS. raTana MaleenonT

Position: Director,ExecutiveDirector–FinanceandAccountingBusiness,

ChaimanoftheNominatingCommittee

age: 58years

Work experience:

1995-Present Director,ExecutiveDirector-FinanceandAccountingBusinessofBECWorldPlc.

DirectorandExecutiveDirectorofTheBangkokEntertainmentCo.,Ltd.


education: BachelorDegreeinEconomics,ThammasatUniversity.





transaction: None



Directors and Executives Data (Continued)


5. MS. niPa MaleenonT

Position: Director

age: 56years

Work experience:

1995-Present DirectorandAuthorizedDirectorofBECWorldPlc.,and

TheBangkokEntertainmentCo.,Ltd.

Present DirectorandAuthorizedDirectorof3subsidiariesofBECWorldGroup

education: BachelorDegreeinCommercialandAccounting,ThammasatUniversity.





transaction: None



6. MS. aMPhorn MaleenonT

Position: DirectorandExecutiveDirector–ProductionBusiness

age: 53years

Work experience:

1995-Present DirectorandExecutiveDirector–ProductionBusiness

ofBECWorldPlc.andTheBangkokEntertainmentCo.,Ltd.


education: BachelorDegreeinCommercialandAccounting,ThammasatUniversity.





transaction: None





7. Mr. PraChuM MaleenonT

Position: Director,ExecutiveDirector–NewMediaBusiness,

SeniorExecutiveVice-President,MemberoftheNominatingCommittee

age: 52years

Work experience:

1995-Present Director,ExecutiveDirector–NewMediaBusinessand

SeniorExecutiveVice-PresidentofBECWorldPlc.

DirectorandExecutiveDirectorofTheBangkokEntertainmentCo.,Ltd.

Present DirectorandAuthorizedDirectorof17subsidiariesofBECWorldPlc.

July2002-Present DirectorandExecutiveDirectorofBEC-TEROEntertainmentPlc.

April2001-Nov.2005 DirectorandExecutiveDirectorofCVDEntertainmentPlc.and3subsidiaries.

2004-Nov.2005 ChairmanoftheNominationandRemunerationCommittee

ofCVDEntertainmentPlc.

education: BachelorDegree(Marketing)AssumptionCommerceUniversity.





transaction: None



8. MrS. raTChanee niPaTaKuSol

Position: Director,ExecutiveDirector–MarketingandSalesBusiness,

MemberoftheNominatingCommittee

age: 51years

Work experience:

1995-Present DirectorandExecutiveDirector–MarketingandSalesBusiness

ofBECWorldPlc.


education: BachelorDegree(Art),ThammasatUniversity.



CertificateofFinanceforNon–FinanceDirectorsProgram,IOD



transaction: None





9. Mr. arun nGaMdee

Position: IndependentDirectorandChairmanoftheAuditCommittee

age: 72years

Work experience:

1999-Present ChairmanofTheAuditCommitteeofBECWorldPlc.

1995-Present IndependentDirectorofBECWorldPlc.

1993-1995 DirectorGeneralofPublicRelationsDepartment.

1989-1993 DeputyDirectorGeneralofPublicRelationsDepartment.

education: MA,PublicRelations,BostonUniversity

BachelorDegreeofArts,ChulalongkornUniversity

CertificateofTopExecutivefromNIDAandInstitute

ofCivilServantDevelopment.



CertificateofAuditCommitteeProgram(ACP),IOD



transaction: None


Family relationship: None

10. Mr. PraThan ranGSiMaPorn

Position: IndependentDirectorandMemberoftheAuditCommittee

age: 74years

Work experience:

1999-Present MemberofAuditCommitteeofBECWorldPlc.

1995-Present IndependentDirectorofBECWorldPlc.

SeniorPublicRelationsExpert

Director,DivisionofDirectingBroadcastingCommission.

MemberandSecretarytotheDirectingBroadcastingCommission,

education: MAJournalism,UniversityofPanjab,Pakistan,UnderSEATOScholarship,

BAJournalism,BASocialAdministration,ThammasatUniversity






transaction: None





11. Mr. ManiT BoonPraKoB

Position: IndependentDirectorandMemberoftheAuditCommittee

age: 57years

Work experience:

Dec.1999-Present IndependentdirectorandamemberoftheAuditCommitteeofBECWorldPlc.

1998-Present ManagingDirectorofBMSConsultingOffice,ExecutiveDirector

ofThABBSupportLtd.andChirachitCo.,Ltd.

DirectorandExecutiveDirector,EVP–FinanceandCFOofABBGroup

ofcompaniesinThailand.

education: MasterDegreeinBusinessandAdministration,ThammasatUniversity.

BachelorDegreeinAccounting,ChulalongkornUniversity.

CertifiedPublicAccountant(Thailand)






transaction: None



12. Mr. MaTTheW KiChodhan

Position: Non-ExecutiveDirector

age: 41years

Work experience:

2006-Present DirectorandofMinorCorporationPlcandDirectorofsubsidiaries

April2006-Present DirectorofCVDPlc.

2007-Present DirectorofOceanGlassPlc

Present AuthorizedDirectorofEsmidoFashionsCo.,Ltd.

2004-2005 VicePresident,BusinessManagement,AsiaPacific,GilletteAsiaPacificGroup

1995-2004 BrandMarketingDirector,AsiaPacificRegion,Pepsi-ColaInternational

education: MasterofScience,Management,ImperialCollege(ManagementSchool),

UniversityofLondon,England

BachelorofCommerce,UniversityofToronto,Canada

directors Training Program: DirectorCertificateProgram(DCP),

ThaiInstituteofDirectorsAssociation(IOD)

CertificateofDirectorAccreditationProgram(DAP),IOD



transaction: None





13. Mr.PaniThan ToSnaiTada

Position: VicePresident,AdvertisingDepartment

age: 64years

Work experience:

1996-Present VicePresident,AdvertisingDepartment,BECWorldPlc.

1980-1995 VicePresidentofTheBangkokEntertainmentCo.,Ltd.

education: BachelorDegree




14. Mr.SoMraK naronGViChai

Position: VicePresident–ProductionDepartment

age: 58years

Work experience:

1996-Present VicePresident,ProductionDepartment,BECWorldPlc.

1991-1995 ProgramProductManagerofTheBangkokEntertainmentCo.,Ltd.

education: BachelorDegree(Art-Drama),ChulalongkornUniversity.



transaction: None



15. Mr.BoriSuT PuranaSaMriddhi

Position: VicePresident–AdministrationDepartment

age: 60years

Work experience:

1996-Present VicePresident–AdministrationDepartment,BECWorldPlc.

1990-1995 PublicRelationsManagerofTheBangkokEntertainmentCo.,Ltd.

education: BachelorDegree(Journalism),ThammasatUniversity

TheProgramforSeniorExecutivesinCriminalJusticeAdministration

(Section4),NationalAcademyofCriminalJustice



transaction: None





16. Mr. ChaTChai ThiaMTonG

Position: VicePresident–Finance,andActingCorporateSecretary

age: 56years

Work experience:

1996-Present VicePresident–Finance

1999-Present SecretarytotheAuditCommittee

1999-10April2001 IndependentDirectorandamemberoftheAuditCommittee

ofSINGER(Thailand)Plc.

1991-1995 Director–SINGER(Thailand)Plc.

education: BachelorDegreeinAccounting,ThammasatUniversity

BachelorDegreeinLaw,ThammasatUniversity

DirectorsCertificationProgram,ThaiInstitutionofdirectorsAssociations(IOD)



transaction: None



17. aPinya KanGSanaraK Ph.d.

Position: VicePresident–humanResourceDepartment

age: 46years

Work experience:

2002-Present VicePresident–humanResourceDepartment,BECWorldPlc.

ManagerPersonalDepartment,BangkokEntertainmentCo.,Ltd.

1995-2002 SeniorVicePresidenthumanResourceDevelopmentDepartmentand

humanResourceManagementDepartmentofBangkokMetropolitanBankPlc.

education: Philosophyofdoctor(higherEducation),ChulalongkornUniversity.

MasterofEducation,SrinakarintharawirotUniversity.

BachelorofScience,MahidolUniversity.



transaction: None





18. Mr. PiSanu ruanGraJiTPaKorn

Position: VicePresident–TechnologyDepartment

age: 54years

Work experience:

May2003-Present VicePresident–TechnologyDepartment,BECWorldPlc.

andManagingDirector,BECITSolutionCo.,Ltd.

2000-April2003 AssistantVicePresident–IT,SamartCorporationPlc.

1996-1998 VP,RISCo.,Ltd.

education: BachelorDegreeinAccounting,ChulalongkornUniversity



transaction: None



19. Mr. noPPonG BooTKhWan

Position: VicePresident-InternalAuditOffice

age: 43years.

Work experience:

Jan.2004-Present VicePresident–InternalAuditOffice,BECWorldPlc.

Aug.2002-Dec.2003 InternalAuditDivisionManager,InterComfortCo.,Ltd.

Sep.2001-Aug.2002 InternalAuditDepartmentManager,Singer(Thailand)Plc.

Jun.1997-Sep.2001 SeniorInternalAuditmanager,Financialand

AccountingManager,CRC.AholdCo.,Ltd.

Mar.1995-Jun.1997 InternalAuditDivisionManager,STCGroupofCompanies

Jul.1991-Mar.1995 InternalAuditor,SiamTyrePlc.

education: M.B.A.ThammasatUniversity

MiniM.B.A.UTCC

B.B.A.(Accounting)RamkhamhaengUniversity

CertifiedInternalAuditor(CIA)No.30806

CertifiedProfessionalInternalAuditor(CPIA)No.3012



transaction: None





20. Mr. noPPhadol KheMayoTin

Position: VicePresident–BusinessDevelopmentandInvestmentDepartment

age: 42years

Work experience:

Feb.2004-Present VicePresident–BusinessDevelopmentandInvestmentDepartment,

BECWorldPlc.

2001-2003 SeniorVicePresident,InvestmentDepartmentAssetPlusSecuritiesPlc.

1999-2001 VicePresident,InvestmentDepartmentAssetPlusSecuritiesCo.,Ltd.

1998-1999 AssistantVicePresident,PrivateFundManagementDepartment,

OneAssetManagementLimited

1996-1998 AssistantVicePresident,MutualFundmanagementDepartment,

OneAssetManagementLimited

education: CertificateofAchievement(FutureMarket)

SakuraDellsherEducationProgram,Chicago,U.S.A

(ReceivedFullAcademicScholarship)

1996 CertificateofLawsandEthicsforFundManagement

AssociationofInvestmentManagementCompanies(AIMC)Thailand

1990-1992 MasterofBusinessAdministration(M.B.A)inFinanceWesternInternational

University,Arizona,U.S.A

Bachelor of Arts (B.A.) in Finance and Banking, Thammasat University,

Bangkok,Thailand



transaction: None





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list name of the executive and Controlling Parties of the Subsidiary Company which its revenue

was over 10% of total revenue of the Group in the year 2007

list name of the executive Tha Bangkok rungsiroj BeC-Tero Bangkok

and Controlling Parties entertainment Co., ltd. entertainment Television

Co., ltd. Plc. Co., ltd.

1.Mr.Chatri Sophonpanich X

2.Mr.Prasan Maleenont // X,// //

3.Mr.Pravit Maleenont // //

4.Mr.Prachum Maleenont // // //

5.Ms.Ratana Maleenont // // //

6.Ms.Nipa Maleenont //

7.Ms.Amphorn Maleenont // // //

8.Mrs.Ratchanee Nipatakusol //

9.Mr.Boonyarith Suwanphucksa /

10.Dr.Cathleen Maleenont //

11.Mr.BrianL.Marcar //

12.Mr.MichaelMarcar /

13.Mr.Chansak Fuankfu /

14.Mr.Pravit Jitnarapong /

15.Dr.Vorasak Voraphamorn /

16.Mr.Manutham Thajai /

remark: X=Chairman //=AuthorizedDirector /=Director



Share reGiSTrar:

Thailand SeCuriTy dePoSiTory CoMPany liMiTed

62TheStockExchangeofThailandBld.1stFl.

RachadapisekRoad,Klongtoey,Bangkok10110

Tel.(66)2229-2800Fax.(66)2359-1259CALLCENTER:(66)22292888

Website:http://www.tsd.co.thE-mail:[email protected]

audiTor:

dr.ViraCh and aSSoCiaTe oFFiCe CoMPany liMiTed

7thFloor,PanuneeBuilding.

518/3PloenchitRoad.,Bangkok10330

Tel.(66)2252-2860,255-2518Fax.(66)2254-1210

leGal CounSelor:

inTernaTional leGal CounSelorS Thailand liMiTed [ilCT]

18thFloor,SathornCityTower

175SouthSathornRoad,Bangkok,10120

Tel.(02)679-6005Fax.(02)679-6041

MaGnuS & ParTnerS Co., lTd.

11thFloor,ThaniyaBuilding,Room1107

62SilomRoad,Suriyawong,Bangrak,Bangkok10500

Tel.(66)2652-5160Fax.(66)2652-5164www.magnuspartners.com

FinanCial adViSor:

aSia PluS SeCuriTieS PuBliC CoMPany liMiTed

11thFloor,SathornCityTower,

175SouthSathornRoad,Bangkok10120

Tel.(66)2285-1888,2680-1111Fax.(66)2670-9271

Reference Persons

01 Important Financial data

02 Report to the Shareholders

04 Audit Committee Report

06 Board of Directors

08 Executives Directors and Executives Officers

09 Structure of The BEC World Group

12 กิจกรรมเพื่อสังคมและสิ่งแวดล้อม

14 Corporate Profile of The BEC World Group

16 Management Discussion & Analysis

24 Report of Directors Relating to Responsibility for Financial Statements

25 Auditor’s Report

26 Financial Statement

61 Revenue Structure

63 Organization Chart of the Company

64 Management Structure

71 Corporate Governance

94 Connected Transactions with Related Party which May Cause of Interest in the year 2007

96 Supplementary Data

103 Directors and Executives data

116 Reference Persons

to be the Market Leader and

the Best Provider, in the

Production and Presentation

of the highest quality news,

Information and Entertainment

Programming

Contents

An

nu

al R

eport 2007 B

EC

World

Pu

blic C

om

pan

y Lim

ited


Annual Report 2007

Registration No. 0107538000673 (Formerly: Bor. Mor. Jor. 590)

BEC World Company Limited3199, Maleenont Tower, Floor 2, 3, 8, 9, 30-34, Rama 4 Road, Klongton, Klongtoey, Bangkok 10110

Telephone : 02-262-3333, 02-204-3333 Fax : 02-204-1384

www.becworld.com

www.thaitv3.com

bec 07

Documents

bec world group

bec world company limited3199

best year of bec world

report of directors

share baht

auditors report

total revenues

total shareholders equity