Classifications of assets by business segment as at June 30, Million Baht 1998 1997 Property and Equipment - net Segment-Mobile phone service 1,676.74 993.11 Segment-Pager service 72.71 90.01 Segment- Pagers rental 36.11 - Segment-Sales of pagers 20.48 22.06 Adjustments of intercompany transactions (0.05) (0.05) 1,805.99 1,105.13 Other Assets Costs of mobile phone and pager networks under concession agreements - net Mobile phone service 26,783.57 17,932.25 Pager service 809.21 887.05 Other assets 10,228.28 5,607.90 Adjustments of intercompany transactions (442.96) (406.29) Total Assets 39,184.09 25,126.04 Operating profit (loss) by each segment represents revenue by each segment less the related cost of revenue and selling and administrative expenses. There is no intertransaction among those segments. Property and equipment by segment are those assets used in the operations of each segment. Other assets comprise: cash in hand and at banks, short-term investments, accounts and notes receivable, short- term loan and advances to related parties, inventories, other current assets, investments, costs of mobile phone and pager networks, deferred charges, goodwill and others. NOTE 6 - SHORT-TERM INVESTMENTS Short-term investments at June 30, represent time deposits with banks and other financial institutions and investments in bills of exchange of which their withdrawal periods are within 1 year, comprise: Million Baht Consolidated Company's Separate Balance Sheets Balance Sheets 1998 1997 1998 1997 Time deposits with local and foreign banks 2,580.26 50.00 2,070.26 50.00 Time deposits with other financial institutions - 365.00 - 200.00 Investments in bills of exchange 1,090.65 - 927.06 - Total 3,670.91 415.00 2,997.32 250.00 Investments in bills of exchange as at June 30, 1998 in the consolidated balance sheet and the company's separate balance sheet are shown net of discount, determined from discount rate and the remaining periods of those bills of exchange, amounting to approximately Baht 4.35 million and Baht 2.94 million, respectively. NOTE 7 - ACCOUNTS AND NOTES RECEIVABLE Accounts and notes receivable at June 30, were shown net of allowance for doubtful accounts as follows: Million Baht Consolidated Company's Separate Balance Sheets Balance Sheets 1998 1997 1998 1997 Related parties (Note 3) 1.96 2.29 0.88 0.62 Other customers 3,781.49 2,834.99 3,542.57 2,526.29 3,783.45 2,837.28 3,543.45 2,526.91 Less Allowance for doubtful accounts 354.55 425.32 232.30 314.80 Accounts and Notes Receivable - net 3,428.90 2,411.96 3,311.15 2,212.11 Trade notes receivable at June 30, 1998 and 1997 do not exceed 20% of total accounts and notes receivable as shown above. Accounts and notes receivable at June 30, 1998, of which are overdue more than 3 months, are summarized as follows: Million Baht Consolidated Company's Separate Financial Statements Financial Statements Balances overdue more than 3 months but not exceed 6 months 630.55 606.98 Balances overdue more than 6 months but not exceed 12 months 307.31 271.67 Balances overdue more than 12 months 42.29 5.13 Total 980.15 883.78 Allowance for doubtful accounts for the above overdue balances 354.55 232.30 Allowance for doubtful accounts for those accounts and notes receivable at June 30, 1998 which are overdue more than 3 months were considered in conjunction with deposits received from relevant customers. NOTE 8 - OTHER CURRENT ASSETS Other current assets at June 30, comprise: Million Baht Consolidated Company's Separate Balance Sheets Balance Sheets 1998 1997 1998 1997 Other receivables 545.31 241.17 543.83 240.23 Prepaid expenses 166.26 127.62 159.81 118.83 Refundable value added tax 70.27 94.00 67.35 59.03 Accrued interest income 19.85 4.63 8.93 3.24 Others 35.73 46.39 32.88 42.29 Total 837.42 513.81 812.80 463.62 Other receivables mainly comprise service cost to be reimbursed by International network operators and value added tax to be claimed from the Telephone Organization of Thailand. NOTE 9 - INVESTMENTS Investments at June 30, 1998 comprise investments in share capital of the following companies Values (Million Baht) % Paid-up Cost Equity Recorded Dividend Holding Capital Method Method Values Income In the Company's separate financial statements Related Parties Subsidiary company Shinawatra Paging Company Limited 59.99 350.00 753.76 816.38 816.38 - Other related company Shinawatra Datacom Company Limited 13.77 457.52 62.37 - 62.37 - 878.75 Other Company Fonepoint (Thailand) Company Limited 17.80 15.00 - - - - Values (Million Baht) % Paid-up Cost Equity Recorded Dividend Holding Capital Method Method Values Income In the consolidated financial statements Related Parties Other related company Shinawatra Datacom Company Limited 13.77 457.52 62.37 - 62.37 - Other Company Fonepoint (Thailand) Company Limited 17.80 15.00 - - - - Investments at June 30, 1997 comprise investments in share capital of the following companies: Values (Million Baht) % Paid-up Cost Equity Recorded Dividend Holding Capital Method Method Values Income In the Company's separate financial statements Related Parties Subsidiary company Shinawatra Paging Company Limited 59.99 350.00 753.76 708.23 708.23 - Other related company Shinawatra Datacom Company Limited 18.00 695.30 62.37 - 62.37 - 770.60 Other Company Fonepoint (Thailand) Company Limited 17.80 15.00 - - - - In the consolidated financial statements Related Parties Other related company Shinawatra Datacom Company Limited 18.00 695.30 62.37 - 62.37 - Other Company Fonepoint (Thailand) Company Limited 17.80 15.00 - - - - Shinawatra Paging Company Limited is principally engaged in the operations of a DIGITAL DISPLAY PAGING SYSTEM network, pagers rental and the trading of pagers. Shinawatra Datacom Company Limited is principally engaged in the operations of simultaneous voice and data transfer system known as DataNet. Certain directors of Shinawatra Datacom Company Limited are having their directorship in Advanced Info Service Public Company Limited. The above investments in an other related company and an other company as at June 30, 1998 and 1997, which do not represent marketable securities, are shown net of adjustments relating to the decline in values of investments, determined from their financial status, amounting to approximately Baht 50.70 million and Baht 49.20 million, respectively. The Company does not have significant influence in the management of those companies. NOTE 10 - PROPERTY AND EQUIPMENT As at June 30, 1998, land purchased by the Company's subsidiary from Pager Sales Company Limited, at the value of approximately Baht 5.05 million, was in the process of transferring the ownership to the subsidiary. NOTE 11 - UNUTILIZED LOAN FACILITIES Unutilized loan facilities of the Company and its subsidiary as at June 30, 1998 are classified by type of currencies as follows: Million Consolidated Company's Separate Financial Statements Financial Statements Short-term Baht 320.00 - US dollar 17.00 12.00 Long-term US dollar 45.50 45.50 Deutschmark 96.12 96.12 Terms and conditions of unutilized long-term facilities are similar to those long-term loans described in Note 14, while terms and conditions of unutilized short-term loans facilities are not currently specified and subject to mutual agreement between the Company, and its subsidiary and lenders in due course. NOTE 12 - ACCOUNTS PAYABLE AND ACCRUED EXPENSES Accounts payable and accrued expenses at June 30, comprise: Million Baht Consolidated Company's Separate Balance Sheets Balance Sheets 1998 1997 1998 1997 Related parties (Note 3) 126.36 268.64 120.65 263.75 Other suppliers 8,409.60 4,807.30 8,250.84 4,582.55 8,535.96 5,075.94 8,371.49 4,846.30 Add Excess of the value of purchased currency under contracted exchange rates, for future payments of above liabilities, over the current value of purchased currency under forward contracts 0.26 - 0.26 - Accounts payable and accrued expenses - net 8,536.22 5,075.94 8,371.75 4,846.30 NOTE 13 - OTHER CURRENT LIABILITIES Other current liabilities at June 30, comprise: Million Baht Consolidated Company's Separate Balance Sheets Balance Sheets 1998 1997 1998 1997 Income tax payable 887.31 857.27 813.60 810.47 Other payables 87.85 75.50 84.47 67.37 Equipment payables 24.83 27.87 24.63 23.85 Withholding income tax payable 23.16 22.97 22.21 14.67 Others 24.02 30.94 9.46 18.76 Total 1,047.17 1,014.55 954.37 935.12 Other payables mainly comprise service costs to be charged by The Communications Authority of Thailand.