Company Reports

M PICTURES ENTERTAINMENT pur¬chased an additional 10 million shares of Pacific Marketing & Entertainment Group (PM) and 4 million shares of Media Network Retail (MNR). The net tangible assets of PM shares and MNR shares acquired are Bt145 million, consisting of PM's net tangible assets of Bt93 million and MNR's net tangible assets of Bt52 million.

PTT EXPLORATION AND PRODUC¬TION (PTTEP) has established a sub¬sidiary to carry out petroleum exploration and development in New Zealand. PTTEP New Zealand was established on September 17 with registered capital of US$50,000 (Bt1.7 million), consisting of 50,000 ordinary shares at $1 each, with 100 per cent shareholding by PTTEP Holding, a sub¬sidiary of PTTEP.

THAI SUGAR TERMINAL's board approved the financial transaction between the company and its sub¬sidiaries TS Warehouse and TSG Property. Thai Sugar receives a loan from TS Warehouse in the amount of Bt5 million and one from TSG Property in the amount of Bt26 million. The loans will be used in the cash flow of the company and to reduce interest lia¬bility.

THANACHART CAPITAL's board approved an interim dividend of 30 satang for the first half of the year, payable on October 24.