REPORTS CONSOLIDATED FINANCIAL STATEMENTS
PDI reported its consolidated financial statement as follows:
(in thousands)
Ending June 30
2nd quarter for 6 months
1994 1994
-Net profit before gains (loss) from
subsidiaries' net profits (loss)
before dividend appropriation 85,543 150,549
-Less gains (loss) from subsidiaries'
net profits (loss) before dividend
appropriation (17,085) (46,990)
-Net profit after gains (loss) from
subsidiaries' net profits (loss) before
dividend appropriation 68,458 103,559
-EPS after gains (loss) from subsidiaries'
net profits (loss) before dividend
appropriation 0.66 1.00
The account auditor has noted that
"These interim consolidated financial statements have recorded a
subsidiary's accounting item of a project which has already been ceased
and its assets are no more useful in the future. I was informed by the
company's management that the company is going to adjust down those
assets' value as soon as there is an agreement with joint investors to
stop the subsidiary's operation. The management's move is not in line with
the general accounting principle, because the total assets, minor
shareholders' equity and net profit were overestimated by Bt98.6, Bt48.3
and Bt50.3 million respectively