24 September 2012
NO. FN-NWR 273/55
Subject: Explain the newspaper article from "Thunhoon Newspaper" dated 24 sep 12
To: President The stock exchange of thailand
As per the newspaper article on NWR from "Thunhoon Newspaper" dated, today, 24 September 2012, which indicated that the company shall book and extraordinary income in 2012 for the collection of THB 500 million in legal claim for the construction in Myanmar, the company would like to make the following clarification:
The company has a clear policy in providing factual and non-speculative information to reporters. Information provided is based on historical data and near term prevailing trend without specific timeframe for the viewers to consider making their own forecast.
In the result of the first court case against MIHL in Myanmar, the company has won the legal claim case against MIHL for an amount of approximately USD 14.7 million (awarded amount) which is nothing new and was reported in 56-1 in March 2012. The company is in the process of making an amicable settlement with MIHL and the outcome and the timing are not certain. If amicable settlement can be made, the amount should be less than the awarded amount and if the payment is made this year, the company would benefit from over THB 700 million in tax credit the company has prior booked its profit.
The company reiterated the fact that this amicable settlement is an ongoing process and the amount and timing are not certain. It is not conclusive as to when the retained losses and can be wiped out and when the dividend can be made as indicated in the article from the prevailing information.
Please be informed accordingly.
Yours sincerely
-SIGNED-
(Mrs. Wattana Samanawong)
Director & Senior Vice President
Nawarat Patanakarn Public Company Limited
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