Loss on provision for loss on diminution in value 809.9 28.5 0.0 0.0 of investments Total expenses 2,201.8 1,319.5 882.8 916.8 Income before share of income (loss) from investments in associates, finance cost and 26,217.1 1,083.7 51.2 (22.6) corporate income tax Share of income (loss) from investments in 0.0 0.0 0.0 0.0 associates Income before finance cost and corporate 26,217.1 1,083.7 51.2 (22.6) income tax Finance cost (2.2) (1.3) (20.7) (20.4) Income before corporate income tax 26,214.9 1,082.4 30.4 (43.0) Corporate income tax 0.0 0.0 0.0 0.0 Net income for the period 26,214.9 1,082.4 30.4 (43.0) 0.0 0.0 0.0 0.0 Net income (loss) attributable to: Equity holders of the parent 26,217.1 1,083.7 51.2 (22.6) Minority interest of the subsidiary 0.0 0.0 0.0 0.0 43 BTS Group Holdings Public Company Limited and its subsidiaries Statement of Cash Flow Consolidated Financial Statement Fiscal Year Ended Nine Months Ended March 31, March 31, March 31, December 31, (Million Baht) 2007 2008 2009 2009 Net cash from (used in) operating (56.8) (8.9) (71.8) 107.1 activities Net cash used in investing activities (23.6) (705.1) (316.7) (171.9) Net cash from (used in) financing activities 97.8 750.4 296.1 363.2 Net increase (decrease) in cash and cash 18.1 36.5 (92.5) 298.5 equivalents Company Only Financial Statement Fiscal Year Ended Nine Months Ended March 31, March 31, March 31, December 31, (Million Baht) 2007 2008 2009 2009 Net cash from (used in) operating 46.9 (52.1) (76.3) 17.4 activities Net cash used in investing activities (24.7) (655.6) (234.2) (226.9) Net cash from (used in) financing activities 25.0 738.3 231.4 365.4 Net increase (decrease) in cash and cash 47.2 30.6 (79.2) 156.0 equivalents 44 Bangkok Mass Transit System Public Company Limited and its subsidiaries Balance sheets Assets Consolidated Company Only Company Only as of 31 March 9 months as of 9 months as of Consolidated as of 31 March 31 March 31 March (Million Baht) 2008 2009 2009 2007 2008 2009 2009 Current assets 3,024.0 4,236.7 3,049.6 1,925.9 3,020.9 3,913.9 2,272.9 Cash and cash equivalents Current investments - deposits at 37.5 147.9 8.9 1,703.5 37.5 147.9 8.9 financial institution 0.0 0.0 258.1 0.0 0.0 0.0 0.0 Trade account receivable - net 328.0 300.5 0.8 207.6 328.0 300.5 329.6 Accounts receivable - related parties 0.0 0.0 0.0 0.0 0.0 180.0 360.0 Short-term loan to subsidiary Spare parts - Automatic Fare Collection 100.3 97.3 95.1 85.1 100.3 97.3 95.1 system - net 635.6 1,990.1 3,157.7 0.0 0.0 0.0 0.0 Real estate development costs Other current assets 0.0 0.0 33.6 0.0 0.0 2.7 10.3 Other receivable - related parties 23.6 6.5 1.7 27.5 23.6 6.5 1.7 Interest receivable 0.0 0.0 44.2 0.0 0.0 0.0 44.2 Unbilled receivable 0.0 1,250.0 0.0 0.0 0.0 1,250.0 0.0 Deposits for shares acquisition 0.0 0.0 500.0 0.0 0.0 0.0 500.0 Advance for land purchase 78.3 77.9 176.4 125.8 78.3 76.8 145.9 Others 4,227.2 8,106.9 7,326.1 4,075.5 3,588.5 5,975.5 3,768.6 Total current assets Non-current assets 1,692.7 338.5 417.1 57.9 1,692.7 338.5 338.5 Restricted deposits at financial institution 0.0 0.0 0.0 0.0 0.0 1,799.8 5,096.1 Investment in subsidiaries 43,253.2 43,304.1 43,599.8 39,104.4 43,253.2 43,304.1 43,599.8 Project costs - net 292.8 292.8 292.8 292.8 292.8 292.8 292.8 Spare parts - maintenance contract 140.5 126.3 1,009.5 103.5 140.5 126.3 100.4 Property, plant and equipment - net 0.0 0.0 2,006.8 0.0 0.0 0.0 11.7 Intangible assets - net Other non-current assets 0.0 0.0 78.7 0.0 0.0 0.0 0.0 Goodwill 783.6 706.3 644.0 0.0 783.6 706.3 644.0 Advances paid to contractors 13.1 12.7 26.7 0.7 13.1 12.7 12.6 Others 46,175.9 44,780.6 48,075.4 39,559.3 46,175.9 46,580.4 50,096.0 Total non-current assets 50,403.1 52,887.5 55,401.5 43,634.8 49,764.4 52,556.0 53,864.6 Total assets 45 Bangkok Mass Transit System Public Company Limited and its subsidiaries Balance Sheet (Continued) Liabilities and Shareholders' Equity Consolidated Company Only Consolidated as of 31 March Company Only as of 31 March 9 months as of 9 months as of 31 March 31 March (Million Baht) 2008 2009 2009 2007 2008 2009 2009 Short-term loans from financial 0.0 0.0 788.0 0.0 0.0 0.0 0.0 institutions Creditors per rehabilitation plan - net 59,197.0 0.0 0.0 59,197.0 59,197.0 0.0 0.0 Trade accounts payable 812.2 193.4 166.8 407.9 812.2 193.2 131.5 Other payable - related parties 40.1 13.3 64.8 34.3 40.1 13.3 0.0 Short-term loans from related party 624.0 22.1 0.0 0.0 0.0 0.0 0.0 Current portion of liabilities under finance 5.4 3.8 3.6 5.3 5.4 3.8 3.4 lease agreements Current portion of liabilities under 0.0 1,094.1 0.0 0.0 0.0 1,094.1 0.0 rehabilitation plan Other current liabilities Other payable - related parties 0.0 0.0 8.5 0.0 0.0 0.0 2.8 Unearned fare box revenues 103.1 104.0 107.4 72.7 103.1 104.0 107.4 Deposits on stored value ticket 19.6 23.1 25.0 16.0 19.6 23.1 25.0 Accrued interests - non-related party 4,740.6 0.0 75.8 2,060.4 4,740.6 0.0 75.8 Accrued interests - related party 1,040.0 0.7 0.0 428.5 1,026.7 0.0 0.0 Accrued expenses 16.7 18.9 324.3 16.8 16.2 18.7 18.7 Retentions payable 15.0 114.5 134.8 10.7 15.0 114.5 134.8 Other payable from subsidiaries' 0.0 0.0 500.0 0.0 0.0 0.0 500.0 acquisition Others 28.6 75.5 150.1 19.1 27.6 75.5 55.3 Total current liabilities 66,642.2 1,663.4 2,349.1 62,268.7 66,003.5 1,640.4 1,054.7 Non-current liabilities 0.0 0.0 0.0 0.0 0.0 0.0 0.0 Liabilities under finance lease agreements - net of current portion 7.5 3.1 1.4 12.7 7.5 3.1 1.0 Liabilities under rehabilitation plan - net of current portion 0.0 13,627.4 0.0 0.0 0.0 13,627.4 0.0 Unsubordinated convertible bonds - 0.0 4,958.2 0.0 0.0 0.0 4,958.2 0.0 liability component Long-term loan from financial institution 0.0 0.0 58.3 0.0 0.0 0.0 0.0 Long-term debentures 0.0 0.0 11,861.4 0.0 0.0 0.0 11,861.4 Total non-current liabilities 7.5 18,588.7 11,921.1 12.7 7.5 18,588.7 11,862.3 Total liabilities 66,649.7 20,252.1 14,270.2 62,281.4 66,011.0 20,229.1 12,917.0 46 Bangkok Mass Transit System Public Company Limited and its subsidiaries Balance Sheet (Continued) Liabilities and Shareholders' Equity Consolidated Company Only Consolidated as of 31 March Company Only as of 31 March 9 months as of 9 months as of 31 March 31 March (Million Baht) 2008 2009 2009 2007 2008 2009 2009 Shareholders' equity Share capital Registered 21,036,516,393 ordinary shares of Baht 1 each (2007 and 2008: 16,415,868,989 ordinary shares of Baht 1 each) 16,415.9 21,036.5 21,036.5 16,415.9 16,415.9 21,036.5 21,036.5 Issued and fully paid 10,058,016,393 ordinary shares of Baht 1 each (2007 and 2008: 1,215,868,989 ordinary 1,215.9 10,058.0 15,879.5 1,215.9 1,215.9 10,058.0 15,879.5 shares of Baht 1 each) Share premium 0.0 16,638.8 16,888.6 0.0 0.0 16,638.8 16,888.6 Surplus on business combination under 0.0 0.0 (414.7) 0.0 0.0 0.0 (414.7) common control Unsubordinated convertible bonds - equity 0.0 1,089.4 0.0 0.0 0.0 1,089.4 0.0 component Retained earnings 0.0 0.0 0.0 0.0 0.0 0.0 0.0 Appropriated - Legal and statutory 0.0 0.0 1,100.0 0.0 0.0 0.0 1,100.0 reserves Unappropriated (Deficit) (17,462.5) 4,449.0 7,281.0 (19,862.4) (17,462.5) 4,540.6 7,494.2 Equity attributable to (Capital Deficit) (16,246.6) 32,235.2 40,734.4 (18,646.6) (16,246.6) 32,326.9 40,947.6 Minority interest - equity attributable to 0.0 400.1 396.9 0.0 0.0 0.0 0.0 minority shareholders of subsidiary Total shareholders' equity (capital deficit) (16,246.6) 32,635.4 41,131.3 (18,646.6) (16,246.6) 32,326.9 40,947.6 Total liabilities and shareholders' equity 50,403.1 52,887.5 55,401.5 43,634.8 49,764.4 52,556.0 53,864.6 47 Bangkok Mass Transit System Public Company Limited and its subsidiaries Income Statement Consolidated Company Only Consolidated as of 31 March Company Only as of 31 March 9 months as of 9 months as of 31 March 31 March (Million Baht) 2008 2009 2009 2007 2008 2009 2009 Revenues 3,221.1 3,288.1 2,588.9 3,062.5 3,221.1 3,288.1 2,588.9 Fare box revenues - net - - 151.9 - - - 151.9 Service income from train operating management - - 298.5 - - - - Service income Other income - - - 578.7 - 29.1 - Gain on exchange rate Advertising and merchandising space rental 277.3 344.8 222.5 228.7 277.3 344.8 324.4 revenues 31.3 24.8 10.1 19.4 31.3 24.8 13.8 Revenues from utility services 127.1 149.0 22.9 87.7 127.1 148.9 36.5 Interest income Reversal of allowance for diminution in value of 4,688.7 - - - 4,688.7 - - project costs - 166.7 - - - 166.7 - Gain from disposal of investment in subsidiaries - 257.3 - - - 257.3 - Subsidy of defect works from subcontractor 31.3 27.7 65.1 28.7 31.3 27.7 64.3 Others 8,376.7 4,258.4 3,360.0 4,005.7 8,376.7 4,287.4 3,179.8 Total revenues Expenses 1,899.2 2,108.2 1,588.0 1,768.9 1,899.2 2,108.2 1,588.0 Costs of fare box Cost of service - - 88.8 - - - - 634.1 379.7 524.1 544.6 454.3 524.1 546.3 Selling and administrative expenses 8.9 59.1 37.1 - 8.9 - 32.1 Loss on exchange rate - - - 205.9 - - - Loss on a diminution in value of project costs - - - 10,194.7 - - - Loss on liability adjustment under rehabilitation plan 2,432.3 2,713.6 2,348.0 12,549.2 2,432.2 2,652.8 2,074.4 Total expenses Income (loss) before finance cost, corporate income tax and gain on debt restructuring 5,944.4 1,544.8 1,011.9 (8,543.5) 5,944.5 1,634.6 1,105.4 under the rehabilitation plan (3,544.5) (2,080.4) (295.0) (3,456.1) (3,544.5) (2,078.5) (279.9) Finance cost Income (loss) before corporate income tax and gain on debt restructuring under the rehabilitation plan 2,399.9 (535.6 716.9 (11,999.6) 2,400.0 (444.0) 825.5 Corporate income tax - - (16.3) - - - - Income (loss) before gain on debt restructuring under the rehabilitation plan 2,399.9 (535.6) 700.6 (11,999.6) 2,400.0 (444.0) 825.5 Gain on debt restructuring under the rehabilitation (more)