28 November 2001
JOINT VENTURE PROJECT WITH "SONY MUSIC"
November 27, 2001
To: President
Stock Exchange of Thailand
Re: Joint Venture Project with "SONY MUSIC"
BEC-TERO Entertainment Co., Ltd. [BEC-TERO] our 60 percent held
subsidiary has just signed a memorandum of understanding (MOU) with
SONY MUSIC (ASIA) INC. [SONY MUSIC] which is not a connected person
with the company and the management, to jointly set up a new joint
venture company to be called Sony BEC-TERO Music Entertainment Co., Ltd.
to acquire domestic music business of both parties which will be
further operated by the new joint venture company that BEC-TERO will
hold 40 percent of its equity where as SONY MUSIC will hold the rest.
It is expected that the new joint venture company will commerce its
business on January 1, 2002.
Please be informed accordingly.
Sincerely Yours,
(Chatchai Thiamtong)
Vice President - Finance