19 August 1996
INFORMS CHANGED A/C POLICY ON EXPENSES RELATING TO OFFER
BEC World Plc (BEC) reported a changed accounting policy on expenses relating to its new shares offering. The said expenses are deducted from the premium of share capital (Note no.3 of quarterly financial statements for the second quarter ending June 30, 1996). The method is different from that shown in the 1996 projection filing to the Securities and Exchange Commission Office (SEC) and the Stock Exchange of Thailand (SET) as deferred charges under the other assets section, which are to be amortized using 5-year straight method. The company believed that the selected accounting policy (in line with generally accepted accounting principles) is beneficial to all shareholders and will reduce the confusion over the recording as the transaction is completed within an accounting period.