AIT : Annual Report 2009 by Phantipa Kwanmuang

√ÿªº≈∑“ß°“√‡ß‘π·≈–°“√¥”‡π‘πß“π / Summary of Financial and Operational Results

SET Award °”‰√ ÿ∑∏‘ / Net Profit

√“¬‰¥â√«¡ / Total Revenues

(Àπà«¬ : ≈â“π∫“∑) (Unit : Mb.)

ß∫°“√‡ß‘π‡©æ“–°‘®°“√ The Companyûs Financial Statements ¢âÕ¡Ÿ≈ ”§—≠∑“ß°“√‡ß‘π Financial Results √«¡ ‘π∑√—æ¬å Total Assets √«¡Àπ’È ‘π Total Liabilities √«¡ à«π¢ÕßºŸâ∂◊ÕÀÿâπ Total Shareholdersû Equity √«¡√“¬‰¥â Total Revenues √«¡§à“„™â®à“¬ Total Expenses °”‰√ ÿ∑∏‘ ”À√—∫ªï Net Profit °”‰√μàÕÀÿâπ¢—Èπæ◊Èπ∞“π (∫“∑) Basic Earning per share (Baht) °”‰√μàÕÀÿâπª√—∫≈¥ (∫“∑) Diluted Earnings per share (Baht) ®”π«πæπ—°ß“π (§π) Total Number of Employees (persons) Õ—μ√“ à«π∑“ß°“√‡ß‘π Financial Ratios Õ—μ√“ à«π ¿“æ§≈àÕß (‡∑à“) Liquidity Ratio (Times) Õ—μ√“°”‰√¢—Èπμâπ (%) Gross Profit Margin Ratio (%) Õ—μ√“°”‰√ ÿ∑∏‘ (%) Net Profit Margin (%) Õ—μ√“ à«πÀπ’È ‘πμàÕ à«π¢ÕßºŸâ∂◊ÕÀÿâπ (‡∑à“) Debt to Equity Ratio (Times)

2552/2009

2551/2008

2550/2007

1,944.26 913.79 1,030.47 3,876.51 3,444.26 311.04 5.16 5.04 246

1,691.49 813.97 877.52 3,324.86 2,998.57 217.87 3.63 3.58 245

1,269.42 459.77 809.65 1,646.60 1,482.11 94.81 1.58 1.56 227

2552/2009

2551/2008

2550/2007

2.00 23.12 8.02 0.89

1.89 21.36 6.55 0.93

2.12 25.94 5.76 0.57

Content Board of Directors Executive Board Message from the Chairman of the Board of Directors and the President Report of the Audit Committee Details of the Companyรปs Management Change in Directorsรป Shareholding Report for the Year 2009 Details Position Titles of Directors and Managements Details about Companyรปs Securities General Information of the Company and Its Subsidiaries Major Shareholders Dividend Policy & Significant Events in 2009

6 7 8 10 12 18 19 20 21 22 23

Get to Know the Business of Advanced Information Technology Public Company Limited Competition in the Industry Risk Factors Management Structure Corporate Governance Policy Use of Inside Information Internal Control and Internal Audit Related Transactions Board of Directorsรป Responsibility for Financial Reporting Auditorรปs Report & Financial Statement Relationship with Investors Other References Corporate Social Responsibility : CSR

24 29 32 35 43 50 52 53 55 56 100 101 102

Advanced Information Technology Public Company Limited

We keep innovating the way networks are designed and implemented.

We are committed to continuously improve the way telecommunication technology is used 2

Annual Report 2009

Connect Everything

Developing borderless networks

Advanced Information Technology Public Company Limited

Connect Everyone

Understand every customers needs to ensure highest level of satisfaction

Annual Report 2009

Contribute towards the society没s betterment

Connect to the Community and Environment Advanced Information Technology Public Company Limited

Board of Directors

Mr. Thana Chaiprasit

Mr. Siripong Oontornpan

Mr. Chokechai Tanpoonsinthana

Chairman of the Board

President Director

Chairman of the Audit Committee Independent Director

Mr. Pongtep Polanun

Mr. Sripop Sarasas

Mr. Suraporn Raktaprajit

Vice Chairman of the Board Independent Director Audit Committee

Independent Director Audit Committee

Director

Mr. Kijja Laoboonchai

Mr. Chatchai Yenbamroong

Mr. Kittisak Sopchokchai

Director

Independent Director

Director

Mr. Pisak Charudilaka

Mr. Chodiwat Duntanasarn

Mr. Voravit Wattanakuljarus

Director

Company Secretary

Annual Report 2009

Executive Board

Mr. Siripong Oontornpan President

Mr. Kijja Laoboonchai Executive Senior Vice President - Sales and Marketing

Mr. Suraporn Raktaprajit Executive Senior Vice President - Finance

Mr. Veerachai Chandranipapongse Executive Senior Vice President - Customer Service

Mr. Asawin Kangwolkij Executive Senior Vice President - Corporate Strategy

Advanced Information Technology Public Company Limited

Message from the Chairman of the Board of Directors and the President Dear Shareholders,

Mr. Thana Chaiprasit Chairman of the Board

Subsequent to the outburst of the sub-prime mortgage crisis in the United States or the hamburger crisis which created a global economic downturn and the Dubai World没s financial crisis of which the impact on world economy is still indefinite, 2009 turned out to be the year that the governments of various countries realized the importance of the economic crisis. Series of measures were announced to seriously tackle the effects on an ongoing basis. The situation prompted many countries to undertake their own stimulus program starting in 2009, particularly a huge injection of government spending to push the economy towards higher employment and income which will in turn resulted in spending and money circulation in the system. Similarly, in Thailand the government has come up with different forms of economic stimulus plan, including Strong Thailand Project worth 1.56 trillion Baht. Among other initiatives, such program aims to help near-term economic recovery to return to normal or at least not worst off. The economic stimulus packages announced by various countries around the world including Thailand没s have had a positive impact on Thai Economy, particularly in the forth quarter of last year which also indicated an improving trend for 2010. Thai Economy should benefit from the stimulus plan if the government continues to carry out the proposed measures by expediting the budget disbursement for projects under Strong Thailand Policy to get results faster. Hence, Thai Economy is supposed to return to normal or close to normal in 2010. Nonetheless, private investment is still at high risk from the effect of world economic fluctuations on Thai Economy. Besides, no imminent end is in sight to the domestic political conflict, the causes of government instability.

Mr. Siripong Oontornpan President

Annual Report 2009

Advanced Information Technology Public Company Limited has been aware of such circumstance and therefore managed our business with utmost cautious and wisdom. Marketing-wise, the Company emphasizes on the government sector, which has low risk and carries on large budgets for various mega projects, especially for projects under Strong Thailand Policy that will become more apparent this year. As a consequence, the Company was able to successfully survive through economic crisis and even generate performance growth as targeted both in terms of revenue and profit. In 2009, the Company reported total revenues of 3,876.51 million Baht, an increase of 551.65 million Baht (16.59%) from 2008没s total revenues of 3,324.86 million Baht.

The net profit in 2009 was 311.04 million Baht, an increase of 42.76% compared to 217.87 million Baht in 2008. The earnings per share in 2009 equaled to 5.16 Baht, an increase of 42% from 3.63 Baht in 2008. Meanwhile the Company has backlog contracts with undelivered sales or services as at 31 December 2009 of 1,696 million Baht, comparing to 904 million Baht in 2008. Last year, the Company was selected as the winner of the Best Performance Awards at the SET Awards 2009 organized by the Stock Exchange of Thailand.

In terms of corporate governance, the Company has always been emphasizing on the importance of such principle. The Company strongly believes that good governance relies on good management system, transparency and responsibility concerning various stakeholders, including shareholders, investors and customers. Clear roles and responsibilities of each committee were established in accordance with the Stock Exchange of Thailand没s guidelines. Moreover, the Company has fine-tuned a framework in which the company uses to conduct shareholder没s meetings to ensure that shareholders are sufficiently informed with accurate information. On behalf of the Chairman of the Board of Directors and the President, we would like to express our sincere appreciation towards confidence and support from shareholders, investors, financial institutions, strategic partners and customers as well as the management team and every employee for their dedication to the Company. Their wisdom, contribution, patience and honesty are revealed for success of the Company. The Company is making a strong commitment to manage the business in a professional manner for sustainable growth based on good corporate governance principle to respond to customer needs while at the same time develop the society at large.

Advanced Information Technology Public Company Limited

As for the year 2010, economic still plays an important role on the Company没s operating performance. Nonetheless, taking into consideration continuous change in the technology coupled with the government没s approved budget and clear economic stimulus policy, these factors should produce a positive impact on the operating performance of the Company as major part of the revenue derives from the government sector. Besides, the Company has backlog revenues to realize this year. The Company is thus confident to see growth in the operating performance this year.

Report of the Audit Committee Dear Shareholders, The Audit Committee of Advanced Information Technology Public Company Limited consists of 3 independent directors who are in full compliance with requirements of the Securities and Exchange Commission, namely Mr. Chokechai Tanpoonsinthana, Mr. Pongtep Polanun and Mr. Sripop Sarasas. The Audit Committee was appointed by the Board of Directors Resolution No. 2 / 2009 on April 21, 2009 and shall serve as directors for the terms of 3 years with the duties and responsibilities as defined in Ă§Audit Committee Mr. Chokechai Tanpoonsinthana CharterĂŠ approved by the Board of Directors Resolution No. 2 / 2009 on April 21, Chairman of the Audit Committee 2009 which complies with guidelines and best practices for Audit Committee of the Stock Exchange of Thailand. The Audit Committee has duties under the scope of duties and responsibilities in the mission assigned by the Board of Directors to oversee the operations of the company in order to ensure that the executives and the executive directors have performed their duties with honesty, responsibility and managed affairs of the company according to its policy. In 2009 the Audit Committee has five meetings in which there was a meeting with the auditor without the company representatives attended and the other four meetings with executives, auditors and internal auditors as appropriated. The principal activities can be summarized as follows. 1. Review quarterly and annual financial statements prior to presenting to the Board of Directors. The Audit Committee has asked and listened to the explanation from the management and auditor for the accuracy and completeness of the financial statements, the adequacy of disclosures, events after the balance sheet date and accounting adjustment significantly affecting the financial statements in order to ensure that the financial statements are prepared in accordance with legal requirments and generally accepted accounting principles. Accounting standards and financial statements are accurate and reliable as well as disclosures for financial statements are adequately and timely prepared for the benefit of investors or users of the financial statements. 2. In reviewing the internal control system evaluation, the Audit Committee has reviewed and commented on the audit report of 2009 with regards to the control system of acquisition and outsourcing provider, fixed assets control, budget management control, information system control-processing by computer, account receivable control and human resources management control-training for staffs. The Audit Committee is of the opinion that the company has adequate and suitable internal controls in the acceptable criteria. 10

Annual Report 2009

Advanced Information Technology Public Company Limited

3. In each meeting, the Audit Committee has considered comments regarding compliance with the law of Securities and Exchange Commission, regulations of the Stock Exchange of Thailand or other laws relating to its business. The review on its operations in the year 2009 showed no past issues of substance in non-compliance with the Securities and Exchange Law, regulations of the Stock Exchange of Thailand, or other laws relating to its business. 4. The Audit Committee has determined, selected, nominated and recommended compensation for 2010 annual external auditor and presented to the Board of Directors for final approval by the General Meeting of Shareholders in 2010. The Audit Committee has considered performance, independence and appropriate compensation and, thus , has nominated Ms. Thipawan Nananuwat, certified auditor licensed No. 3459 or Mr. Supachai Phanyawattano, certified auditor licensed No. 3930 or Ms. Chonlaros Suntiasvaraporn, certified auditor licensed No.4523 on behalf of Office of Ernst & Young as auditor(s) of the company in 2010 due to following reasons: Standards of good work. Expertise in auditing and perform well consistently. Office of Auditor and the auditor(s) as proposed in the above list have no relationship or interest with the company没s executives, major shareholders and related persons to company没s executives and major shareholders, therefore, the proposed auditor(s) and office of the auditor is independent in auditing and reviewing of the financial statements of the company. 5. The Audit Committee has considered and commented on transactions that may have conflicts of interest and related party transactions. In 2009 the company had hired a close relative of the management to be a marketing consultant for three-month period for a total fee of 120,000 baht. The Audit Committee is of the opinion that this was a regular hiring and management of the company has clarified that the company gained benefits from this hiring. The connected transactions are reported in the notes to the financial statements audited by the auditor. The majority of the transactions between the company and subsidiary were normal commercial transactions. 6. The Audit Committee has performed the full scope of authority set forth in the Charter of the Audit Committee in compliance with the Securities and Exchange Law and regulations of the Stock Exchange of Thailand. 7. In 2009 the results of the subsidiary companies are as follows: Maple Plus Company Limited has registered capital of 20 million baht with paid-up of 50 per cent and the company owns 55 percent. The end-year performance in 2009 also showed a loss of 2.89 million baht and accumulated losses at yearend 2009 showed total of 6.80 million baht. BANC Serve (Thailand) Co., Ltd. has registered capital of 10 million baht with paid-up in full value and the company holds a 80 percent. Its performance is off the target with loss incurred since its operation. The Audit Committee has proposed to the Executive Board to consider termination of its business and it had completely closed down in December 2009. 8 million baht was recorded in Profit and Loss Statement from this closing down. The Audit Committee is of the opinion that the operations of the company for the accounting period from 1 January 2009 to 31 December 2009 has been under appropriate internal control and audit. The financial reports are accurate, complete and reliable in compliance with laws, rules and regulations related to the company没s business, including correct disclosure to regulators that are consistent with good corporate governance, transparent and reliable.

Details of the Companyûs Management Mr. Siripong Oontornpan Mr. Thana Chaiprasit Chairman of the Board Age 55 Educational Background Ph.D. Doctor of Philosophy (Honorary), Education Ramkamhaeng University MINI MBA, Thammasart University Honorary Doctorate Degree in Business Administration (General Management), Chandrakasem Rajabhat University The National Defense College (the combination of military officers and civilians) NDC 388 % Shareholding 1.25 Personal Relationship with the Management Illegal record in the past Work Experience (Over the Past 5 Years) Present Chairman of the Board Advanced Information Technology Plc. Present Chairman of the Board Siam Glass Industry Co., Ltd. Present Chairman of the Board Thanarom Co., Ltd. Present Chairman of the Board Adamas Incorporation Plc. Present Deputy Chairman of the Board Osotspa Co., Ltd. Present President Osotspa Insurance Co., Ltd. Present Associate Judge Central Labour Court Present Director International Table-Tennis Federation 2007 Management Director SEA Games # 24 and ASEAN Para Games # 4 ●

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Annual Report 2009

Authorized Director / Chairman of the Management Committee / President / Remuneration Committee Age 56 Educational Background Master of Science (Computer Science), Western Michigan University - USA Bachelor of Electrical Engineering, Western Michigan University - USA DCP 36/2003 National Defense College 2004 % Shareholding 10.00 Personal Relationship with the Management Spouse of Mrs. Netnapit Oontornpan Illegal record in the past Work Experience (Over the Past 5 Years) 1993-Present Director Recruitment & Remuneration Committee/ Chairman of the Management Committee/President Advanced Information Technology Plc. 2009-Present President Thai Senior Professional Golfers Association ●

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Mr. Pongtep Polanun Independent Director / Chairman of the Audit Committee Age 61 Educational Background MBA (Quantitative Analysis & Finance), University of Wisconsin - USA Master of Science (Civil Engineering), University of Wisconsin - USA Bachelor of Engineering, Chulalongkorn University DCP 3/2000 ACP 28/2009 MIA 6/2009 MIR 7/2009 MFM 1/2009 % Shareholding Personal Relationship with the Management Illegal record in the past Work Experience (Over the Past 5 Years) 2003-Present Independent Director/ Chairman of the Audit Committee Advanced Information Technology Plc. 2008-Present Chairman of the Audit Committee United Securities Plc. 2005-Present Independent Director/ Audit Committee United Securities Plc. 2000-Present Independent Director/ Audit Committee Thai Stanley Electric Plc. Oct 2007-Present Audit Committee/ Remuneration Committee/ Independent Director Thai Agro Energy Plc. Fixed Income Market Development The Stock Exchange of Thailand 2005-Dec 2006 The Stock Exchange of Thailand ●

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Vice Chairman of the Board / Chairman of the Recruitment & Remuneration Committee / Independent Director / Audit Committee Age 55 Educational Background MBA (Finance), Sasin Graduate Institute of Business Administration MBA (Management), Sasin Graduate Institute of Business Administration Bachelor of Economics, Thammasat University DAP 36/2005 % Shareholding 0.15 Personal Relationship with the Management Illegal record in the past Work Experience (Over the Past 5 Years) Present Vice Chairman of the Board/ Chairman of the Recruitment & Remuneration Committee/ Independent Director/ Audit Committee Advanced Information Technology Plc. Present Director Phatra Securities Plc. Present Advisor The Royal Ceramic Industry Plc. Present Director Krungthai Bank Plc. ●

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Advanced Information Technology Public Company Limited

Mr. Chokechai Tanpoonsinthana

Mr. Suraporn Raktaprajit Mr. Sripop Sarasas Independent Director / Audit Committee / Recruitment & Remuneration Committee Age 52 Educational Background MBA, University of Southern California - USA Bachelor of Medical Technology, Chulalongkorn University Diploma, Thai Institute of Directors, Certificate, Thai Institute of Directors, DCP 22/2002 Certificate, Audit Committee Program, ACP 1/2004 % Shareholding Personal Relationship with the Management Illegal record in the past Work Experience (Over the Past 5 Years) Present Independent Director/ Audit Committee/ Recruitment & Remuneration Committee Advanced Information Technology Plc. Present Director/ Chairman of the Audit Committee Samittivej Hospital Plc. Present Director/ Audit Committee The Royal Ceramic Industry Plc. Present Director/ Audit Committee Bangkok General Hospital Plc. Present Director/ Audit Committee Livingland Capitol Plc. Present Director/ Audit Committee Kietthana Logistics Plc. Sep 2003-Aug 2007 President/ CEO Krungthai Asset Management Plc. ● ●

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Annual Report 2009

Authorized Director / Management Committee / Recruitment & Remuneration Committee / Executive Senior Vice President - Finance Age 54 Educational Background Master Degree in Economics, Syracuse University - New York, USA Bachelor of Economics, The American University - Washington D.C., USA DCP 35/2003 % Shareholding 2.72 Personal Relationship with the Management Illegal record in the past Work Experience (Over the Past 5 Years) Present Authorized Director/ Management Committee/ Recruitment & Remuneration Committee/ Executive Senior Vice President - Finance Advanced Information Technology Plc. ●

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Mr. Kijja Laoboonchai

Age 50 Educational Background Master Degree in Industrial & System, Engineering Ohio University - USA DCP 36/2003 Bachelor of Engineering, Chulalongkorn University % Shareholding 1.09 Personal Relationship with the Management Illegal record in the past Work Experience (Over the Past 5 Years) 1994-Present Authorized Director/ Management Committee Executive Senior Vice President Sales and Marketing Advanced Information Technology Plc. ●

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Mr. Kittisak Sopchokchai Director / Recruitment & Remuneration Committee Age 54 Educational Background Bachelor of Economics, Thammasat University DAP 54/2006 % Shareholding Personal Relationship with the Management Illegal record in the past Work Experience (Over the Past 5 Years) Present Director/ Remuneration Committee Advanced Information Technology Plc. President Sureetriboon Holding Co., Ltd. President Movinglink (Thailand) Co., Ltd. Director Oaktree Co., Ltd. Director K S P Square Co., Ltd. 1997-Present Director Movie Group Holding Co., Ltd. 1997-Present President Audio Engineering Service Co., Ltd. 1986-Present President Digital Control Co., Ltd. 1983-Present President Sound and Communication Co., Ltd. Vichai Trading (1983) Co., Ltd. ● ●

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Mr. Chatchai Yenbamroong Independent Director

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Age 52 Educational Background Master Degree in Journalism (Newspaper Major), Northwestern University - USA Bachelor of Political Science, Thammasat University % Shareholding 0.52 Personal Relationship with the Management Illegal record in the past Work Experience (Over the Past 5 Years) Present Independent Director Advanced Information Technology Plc. Oct 2009-Present Management Committee Northern Gulf Oil (Thailand) Co., Ltd. ●

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Advanced Information Technology Public Company Limited

Authorized Director / Management Committee / Executive Senior Vice President Sales and Marketing

Mr. Pisak Charudilaka

Mr. Veerachai Chandranipapongse

Director

Vice President - Customer Service

Age 56 Educational Background Master Degree in Political Science, Ramkamhaeng University Bachelor of Laws, Ramkhamhaeng University DAP 67/2007 % Shareholding Personal Relationship with the Management Illegal record in the past Work Experience (Over the Past 5 Years) Present Director Advanced Information Technology Plc. 2005-Present Station Manager Region 2 Office, The Custom Department

Age 59 Educational Background Master Degree in Electrical Engineering, Michigan State University - USA % Shareholding 0.08 Personal Relationship with the Management Illegal record in the past Work Experience (Over the Past 5 Years) 2004-Present Executive Senior Vice President Customer Service Advanced Information Technology Plc.

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Mr. Asawin Kangwolkij Mr. Chodiwat Duntanasarn Director / Senior Vice President Age 45 Educational Background Master Degree in Marketing, Wagner College - USA Bachelor of Business Administration, Assumption University DCP 72/2006 % Shareholding 4.55 Personal Relationship with the Management Illegal record in the past Work Experience (Over the Past 5 Years) Present Director Advanced Information Technology Plc. 1995-Present Senior Vice President Sales Department, Advanced Information Technology Plc. ● ●

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Annual Report 2009

Vice President Corporate Strategy Age 47 Educational Background Master Degree in Economics, Western Michigan University - USA % Shareholding Personal Relationship with the Management Illegal record in the past Work Experience (Over the Past 5 Years) Present Executive Senior Vice President Corporate Strategy Advanced Information Technology Plc. 1992-2006 Managing Director Cisco Systems Thailand ●

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Mr. Kittipan Kannikathananont

Ms. Sureerat Prachayanukul

Senior Vice President

Age 51 Educational Background MBA (Management), Bangkok University % Shareholding Personal Relationship with the Management Illegal record in the past Work Experience (Over the Past 5 Years) Present Director Maple plus Co., Ltd. 2003-Present Senior Vice President Project Management Advanced Information Technology Plc.

Age 37 Educational Background Master Degree in Accountancy, Thammasat University % Shareholding Personal Relationship with the Management Illegal record in the past Work Experience (Over the Past 5 Years) Present Director Maple plus Co., Ltd. 2003-Present Senior Vice President Financial Controller Advanced Information Technology Plc.

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Mr. Chumkiat Laoseriwatanakul Senior Vice President Age 43 Educational Background Bachelor of Computer Engineering, Chulalongkorn University % Shareholding Personal Relationship with the Management Illegal record in the past Work Experience (Over the Past 5 Years) Present Director Maple plus Co., Ltd. 1994-Present Senior Vice President-Marketing Advanced Information Technology Plc. ●

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Advanced Information Technology Public Company Limited

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Change in Directors没 Shareholding Report for the Year 2009 Name 1. Mr. Thana 2. Mr. Siripong

Chairman of the Board Managing Director Recruitment & Remuneration Committee member, CEO 3. Mr. Chokechai Tanpoonsinthana Independent Director and Chairman of the Audit Committee 4. Mr. Pongtep Polanun Vice Chairman of the Board, Chairman of the Recruitment & Remuneration Committee, Independent Director and Audit Committee 5. Mr. Sripop Sarasas Independent Director, Audit Committee and Recruitment & Remuneration Committee 6. Mr. Suraporn Raktaprajit Director, Recruitment & Remuneration Committee 7. Mr. Kijja Laoboonchai Director 8. Mr. Chatchai Yenbamroong Independent Director 9. Mr. Kittisak Sopchokchai Director, Recruitment & Remuneration Committee 10. Mr. Pisak Charudilaka Director 11. Mr. Chodiwat Duntanasarn Director 12. Mr. Veerachai Chandranipapongse Executive Senior Vice President Customer Service Executive Senior Vice President 13. Mr. Asawin Kangwolkij Corporate Strategy 14. Mrs. Netnapit Oontornpan Senior Vice President - Corporate Affairs 15. Mr. Metta Charuchinda Senior Vice President - President Office 16. Mr. Somchai Vibhubhinyo Senior Vice President - Advanced Technology 17. Mr. Kittipan Kannikathananont Senior Vice President - Project Management 18. Mr. Narachet Chattrathitipan Senior Vice President - Government Sales 19. Mr. Chumkiat Laoseriwatanakul Senior Vice President - Marketing 20. Mr. Supat Dulyakupt Senior Vice President - Technical Support 21. Mr. Kriengkrai Nisyant Senior Vice President - Business Development 22. Mr. Ralf Hundertmark Senior Vice President - Business Development 23. Mr. Ongard Harntaweesompone Senior Vice President - Telecom Sales 24. Mr. Putthi Thamrongsiriwat Senior Vice President - Customer Services 25. Ms. Sureerat Prachayanukul Senior Vice President - Financial Controller 26. Mr. Voravit Wattanakuljarus Senior Vice President - Company Secretary (1) (2) (3)

Chaiprasit Oontornpan

Position

Ordinary Shares AIT Maple Plus (2) Banc Serve(3) 2009 2008 2009 2008 2009 2008 (1)

1.25 1.25 10.00 10.00

0.15

2.72

2.72 1 Share 1 Share

1.09 0.51 -

1.09 1.42 -

4.55 0.08

4.55 1 Share 1 Share 0.08 -

0.51 0.01 0.07 0.38 -

- 1 Share 1 Share

0.51 0.04 0.07 0.36 - 1 Share 1 Share 1 Share 1 Share -

AIT : Advanced Information Technology Public Company Limited Unit: % Maple Plus : Maple plus Co., Ltd. Total shares 200,000 Shares Banc Serve : BANC Serve (Thailand) Co., Ltd. Total shares 100,000 Shares

Annual Report 2009

Details Position Titles of Directors and Managements

1. Mr. Thana Chaiprasit 2. Mr. Siripong Oontornpan 3. Mr. Chokechai Tanpoonsinthana 4. Mr. Pongtep Polanun 5. Mr. Sripop Sarasas 6. Mr. Suraporn Raktaprajit 7. Mr. Kijja Laoboonchai 8. Mr. Chatchai Yenbamroong 9. Mr. Kittisak Sopchokchai 10. Mr. Pisak Charudilaka 11. Mr. Chodiwat Duntanasarn 12. Mr. Veerachai Chandranipapongse 13. Mr. Asawin Kangwolkit 14. Mrs. Netnapit Oontornpan 15. Mr. Metta Charuchinda 16. Mr. Somchai Vibhubhinyo 17. Mr. Kittipan Kannikathananont 18. Mr. Narachet Chattrathitipan 19. Mr. Chumkiat Laoseriwatanakul 20. Mr. Supat Dulyakupt 21. Mr. Kriengkrai Nisyant 22. Mr. Ralf Hundertmark 23. Mr. Ongard Harntaweesompone 24. Mr. Putthi Thamrongsiriwat 25. Ms. Sureerat Prachayanukul 26. Mr. Voravit Wattanakuljarus

Advanced Information Technology Plc. Chairman of the Board Director, Managing Director and Executive Director Chairman of the Audit Committee and Independent Director Vice Chairman of the Board, Audit Committee and Independent Director Audit Committee and Independent Director Director, Executive Senior Vice President Director, Executive Senior Vice President Independent Director Director Director Director and Senior Vice President Executive Senior Vice President - Customer Services Executive Senior Vice President - Corporate Strategy Senior Vice President - Corporate Affairs Senior Vice President - President Office Senior Vice President - Advanced Technology Senior Vice President - Project Management Senior Vice President - Government Sales Senior Vice President - Marketing Senior Vice President - Technical Support Senior Vice President - Business Development Senior Vice President - Business Development Senior Vice President - Telecom Sales Senior Vice President - Customer Services Senior Vice President - Financial Controller Senior Vice President - Company Secretary

Director

19 Director

Director Director Director

Director

Advanced Information Technology Public Company Limited

Name

Maple plus Co., Ltd. (Subsidiaries)

BANC Serve (Thailand) Co., Ltd. (Subsidiaries)

Details about Company没s Securities Issuer Ticker First Listing Date Market Capitalization Registered Capital Paid-up Capital Number of Shareholders % Free Float

: : : : : : : :

Type of Business

: Relating to the information and communications technology, including the maintenance and the development of work-system program

Head Office Company没s Registration # Tel Fax Website

: : : : :

Advanced Information Technology Public Company Limited 莽AIT茅 30 July 2003 1,499.05 million Baht (As of 15 January 2010) 345,000,000 Baht 303,451,325 Baht 1,677 (As of 28 August 2009) 54.33% (As of 24 March 2009)

37/2 Suthisarnvinijchai Road, Samsennok, Huay Kwang, Bangkok 10320 0107546000067 0-2275-9400 0-2275-9100 and 0-2275-9200 www.ait.co.th

The Auditor 1. Ms. Thipawan Nananuwat, CPA License Number 3459 and/or 2. Mr. Supphachai Phanyawatthano, CPA License Number 3930 and/or 3. Ms. Siraporn Ouaanunkun, CPA License Number 3844 Ernst and Young Office Limited 33rd Floor, Lake Ratchada Office Building, 193/136-137, New Ratchadaphisek Road, Klongtoey, Bangkok 10110 Tel: 0-2264-0777 Fax: 0-2264-0789-90 The Securities Registrar Thailand Securities Depository Company Limited 4th and 6th-7th Floor, The Stock Exchange of Thailand Building, Ratchadaphisek Road, Klongtoey, Bangkok 10110 Tel: 0-2359-1200 Fax: 0-2359-1259 Capital Market Academy Building, The Stock Exchange of Thailand 2/7 Moo 4 (Northpark Project), Vibhavadi-Rangsit Road, Thung Song Hong, Laksi, Bangkok 10210 Tel: 0-2596-9000 Fax: 0-2832-4994-6

Annual Report 2009

General Information of the Company and Its Subsidiaries Registered Par Value Company

Type of Business

Advanced Information Technology Public Company Limited 37/2 Sutthisarnvinijchai Road, Samseannok , Huay Kwang, Bangkok 10320

Capital (Baht)

Provision of complete ICT solutions, 345,000,000 from product supply and applications over turnkey projects to service contracts and outsourcing schemes

Paid-up

per Share (Baht)

Capital (Baht)

% Shareholding

303,451,325

100

10,000,000

100

10,000,000

Subsidiaries Maple plus Co., Ltd. Sell and install computer, software 20,000,000 448 Order House Building, and communication equipments 5(3) Floor, Ratchadaphisek Road, Samseannok , Huay Kwang, Bangkok 10320 BANC Serve (Thailand) Co., Ltd.* 37/2 Sutthisarnvinijchai Road, Samseannok, Huay Kwang, Bangkok 10320

Sell and install computer and communication equipments

10,000,000

* Board没s resolution No. 5/2009 dated 10 November 2009 had approved the liquidation of BANC Serve (Thailand) Co., Ltd.

Shareholding Structure of the Company Advanced Information Technology Public Company Limited (AIT) 55% Maple plus Co., Ltd 1)

80% BANC Serve (Thailand) Co., Ltd. 1)

The Company has registered for liquidation with the Ministry of Finance on 16 December 2009

Advanced Information Technology Public Company Limited

Major Shareholders Top 10 major shareholders as of the latest book closing date as of 28 August 2009 Shareholder

No. of Shares 1. The Oontornpan Group* 10,580,624 2. Thai NVDR Company Limited 5,101,900 3. Mrs. Kingporn Sopchokchai 3,741,400 4. The Duntanasarn Group* 2,781,500 5. Citibank Nominees Singapore PTE Ltd. - UBS AG London Branch-NRBS IPB Client SEG 2,586,900 6. Mr. Boonkiat Uesudkij 2,584,350 7. The Raktaprajit Group* 2,241,822 8. Mrs. Kanokwan Phusi 1,670,000 9. The Charudilaka Group* 1,348,750 10. Brooker Capital Company Limited 843,400 Other Shareholders 26,519,354 1. The Oontornpan Group comprises of Shareholder 1. Mr. Siripong Oontornpan 2. Ms. Sasinet Oontornpan 3. Mr. Sina Oontornpan 4. Ms. Sasinang Oontornpan 5. Ms. Saowaluck Oontornpan 6. Mrs. Netnapit Oontornpan 7. Mr. Surathep Oontornpan

% 17.63 8.50 6.24 4.64 4.31 4.31 3.74 2.78 2.25 1.41 44.20

Total

No. of Shares 6,000,540 2,224,500 795,000 600,750 425,850 308,250 225,734 10,580,624

% 10.00 3.71 1.33 1.00 0.71 0.51 0.38 17.63

Total

No. of Shares 2,731,500 50,000 2,781,500

% 4.55 0.08 4.64

Total

No. of Shares 1,634,625 603,197 4,000 2,241,822

% 2.72 1.01 0.01 3.74

Total

No. of Shares 1,338,750 10,000 1,348,750

% 2.23 0.02 2.25

2. The Duntanasarn Group comprises of Shareholder 1. Mr. Chodiwat Duntanasarn 2. Mr. Anupong Duntanasarn

3. The Raktaprajit Group comprises of Shareholder 1. Mr. Suraporn Raktaprajit 2. Ms. Thippayachat Raktaprajit 3. Ms. Passara Raktaprajit

4. The Charudilaka Group comprises of Shareholder 1. Mrs. Soyson Charudilaka 2. Ms. Apiporn Charudilaka

Annual Report 2009

Dividend Policy The Companyûs dividend payout ratio is not less than 40% of net profit in case there is no other necessary obligation to this amount of money and the dividend payout must not materially affect normal business operation of the Company.

Significant Events in 2009

●

The Board of Directorsû meeting no. 5/2009 dated 10 November 2009 passed a resolution to liquidate BANC Serve (Thailand) Co., Ltd. with a registered capital of 10 million Baht (the Company holds 80% stakes) as there were no trade transactions since 2008. This insolvency did not have an impact on the Companyûs operations. The Company won the Best Performance Awards 2009 in the category of listed companies with less than 10,000 million Baht of market capitalization. Besides that, Mr. Siripong Oontornpan, the companyûs CEO, was also one of the nominees for the Best CEO Award 2009 organized by the Stock Exchange of Thailand on 13 November 2009 at the Royal Paragon Hall, 5th Floor, Siam Paragon

Advanced Information Technology Public Company Limited

●

Get to Know the Business of Advanced Information Technology Public Company Limited AIT is the leading provider of fully integrated information and communication technology services ranging from product supply and applications over turnkey projects to service contracts and outsourcing schemes in both the private and the public sector. Our goal is to be your strategic partner with the knowledge and experience to help you to achieve your desired business outcomes and to improve business performance through the implementation of clever ICT solutions. AIT will help protect an organizationûs investment in hardware, software and training and enable it to fully realise the technological and business potential of its IT systems.These holistic solutions that often combine new products and technologies are targeted to accommodate our customers businessûs needs today and in future. Examples include:

Infrastructure Consolidation Solutions

Collaboration Solutions

Annual Report 2009

The times in which servers were massive large machines are certainly over. Today, we are discussing costs cooling, power and space as part of tge equation. Modern server technology complimented by advances in network bandwidth and security measures allows us to widly discuss the advantages of off-premise computing or data centers. Economy of scale is what is mainly behind this. Do more with less. As servers get larger in terms of capacity we can consolidate more systems and data on a single physical server and wirh that reduce energy and space costs as well as reduced server administration requirements ● Server Consolidation ● Data Center Virtualization ● Storage Networking ● Security

Are fully intefrated business communication systems, that cone in a new unified format. No matter if you are working from home from your office of while on the way to the next conference - our collaboration solutions will enable you to stay in touch with your business at all times and as only one result, decisions can be made a lot faster. ● Conferencing ● Customer Care ● IP Communications ● Mobile Applications ● Telepresence

Applications are still the key to improvements off business processes and with that corporate results. Our applications deliver business benefits within time and budget. ● Geographic Information Systems ● Enterprise Resources Planning Systems ● Call Center Solutions

Applications

Overall Business Operations

Advanced Information Technology Plc.

The Experienced Persons in Geographical Information System (GIS)

55%

45% Maple plus Co., Ltd. / Registered Capital of 20 million Baht

Currently, Maple plus Co., Ltd.ûs key customers include TOT, Provincial Waterworks Authority and the Department of Land.

Advanced Information Technology Public Company Limited

Advanced Information Technology Public Company Limited (the çCompanyé or çAITé) is one of Thailandûs leading system integrators and ICT solution provider with 17 years of experiences. The Company operates in the information and communication technology segment and offers services including design, system installation, and sales of various equipment. The Company has many large, well-known strategic partners within the information and communication technology industry. Currently, strategic partners of the Company include Cisco Systems, AMP, 3COM, Hewlett Packard, SUN Micro System, Oracle and many more. As the ICT Solution Provider, the Company also provides maintenance and application development services as well as outsourcing services. Furthermore, the Company has invested in one subsidiary company. Maple plus Co., Ltd. : The objective of establishing this company is to provide service particularly for the Geographic Information System (GIS) business. Maple plus Co., Ltd. has 20 million Baht of registered capital with the following shareholding structure.

Revenue Structure of Advanced Information Technology Plc. 2009

Million Baht 1. Sales and services revenues 2. Rental revenues 3. Others Total

3,843.12 27.78 5.61 3,876.51

2008

% 99.14 0.72 0.14 100.00

Million Baht 3,190.32 110.89 23.65 3,324.86

2007

% 95.95 3.34 0.71 100.00

Million Baht 1,396.50 241.64 8.45 1,646.59

% 84.81 14.68 0.51 100.00

Business Objectives The Company没s business objectives for the year 2009 were determined as follows: 1. Continuously maintain and sustain significant customer base namely TOT, CAT, government agencies or state own enterprises and corporate entities. 2. Enlarge the customer base and prioritize the customers to ensure that customers in each level receive highest satisfaction from using products and services of the Company. 3. Develop strategy and long-term strategic plan as well as identify key performance indicators, which allow the performance evaluation in various operational functions. 4. Increase business partners to enhance business stability. 5. Enhance operating efficiency to accommodate the expansion of services, including the establishment of regional service centers and intranet network for the communication within the organization. 6. Develop work procedures to enhance efficiency to maximize the overall benefits without the need to increase any budget 7. Improve human resource efficiency to better serve and response to customers没 demands 8. Increase corporate social responsibilities (CSR). Business Objectives for the Next 3-5 years Although the information and communication technology industry is on the growing trend, the uncertainty of the Company没s revenue which depends solely upon project revenues makes the Management Team fully aware and planned to increase service revenue. Project revenue will continue to grow as the economy expands whereas service revenue will grow systematically in the next 3 years. Such services, including training, maintenance, smart office for small office and home office and data center, will seriously become more evidenced in the near future. As a result of increasing service revenue, it will ensure revenue stability for the Company.

Annual Report 2009

Nature of Business Operations The Company operates the information and communication technology business, which comprises of networking system, computer system and communication system. Nature of its business operations covers as followed: Sales and services of hardware and equipments for networking system, computer system and communication system. The Company is a distributor of hardware and equipment for networking systems, computer systems and communication systems, including the sale of software and the development of application software. The Company may either sell hardware and some equipment only or provide total solution services ranging from consultation, design, installation, testing and training to cover all types of businesses from small companies to large enterprises. The Company analyzes the customers没 requirements and executes marketing strategies to create awareness for its products and services including the arrangement of training seminars to provide product details and services that best suit each customer group. The design and installation of network system can range from hundred thousand Baht to hundred没s of millions of Baht and cover various project periods from 3 months to 12 months and longer. After the installation period is completed, the Company also provides after sale services to professionally maintain and support the whole system during the warrenty period. However, after such period, the customer may choose to hire the Company to provide ongoing maintenance service. At present, the Company is the distributor of the following products: 1. Information network equipment from Cisco Systems, 3COM, AMP and Tyco Electronics (Thailand) Ltd. 2. Computer equipment from Hewlett Packard, Sun Micro System IBM, and ACER 3. Software from Oracle, Microsoft and SAP 4. Telecommunication network equipment Examples of Projects in 2009 : Company TOT Corporation Plc. CAT Telecom Plc.

Others

Projects RFTS MetroLan 3G PO Cisco 192 New Core Router Web Caching Broard band IP 970 IP Core IP Network Adjustment SAP ECC6

Project Value (MB) 166 60 150 89 80 740 656 105 70

Advanced Information Technology Public Company Limited

Maintenance Services Maintenance services are provided for hardware and networking equipment, computer systems and communication systems. Most customers have signed up for maintenance services after the expiration of the warranty period. However, there are also new customer for maintenance services only. Normally, the contract for maintenance services ranges from 1-3 years. The Company没s engineers and experts for both hardware and software are certified by the product owners to undertake the maintenance work in accordance with the best practices defined by the product owners. These well-trained professionals are available to answer questions and solve problems that might occur during system operation and maybe more importantly provide preventive maintenance services - to avoid having trouble during production. This includes the repair and replacement of faulty hardware. The services provided by the Company will ensure highest customer satisfaction, which will in turn enable the Company to maintain its customer base and increase continuous purchase of its products.

Outsourcing Services The Company provides outsourcing services, either complete or partial, for networking systems, computer systems and communication systems. The outsourcing services usually includes the management and control of such hardware and equipment on behalf off our customers. These services are suitable for many organizations and for many reasons ranging from reduced IT support requirements, up-to-date equipment, capital expenditure concerns and many more. In 2009, the Company had revenue from outsourcing services to corporate and government entities e.g. data communication equipments project for TOT to render services to their customers countrywide. This project lasted 3 years under 2 contracts and 2 renewed contracts. The Company also provided outsourcing services to one of the government entities with 3 years contract and 2 schools with approximately 4 years contract. Thus, revenue from outsourcing services with contracts was recorded at about 27.78 million Baht in total.

Annual Report 2009

Competition in the Industry Overview of industry and trend In 2009, Thailand没s economy was still in difficult situation which has continued from 2008 and also has the impact on slower expenditure in both private and government sector. However, Thai government has focused on the importance of Information Technology and Telecommunication sector of the country through its various economic stimulation packages via Strong Thailand Stimulation Fund of 1.56 trillion baht (including ICT industry) The economic hardship has the impact on ICT market according to the survey summary of ICT market in 2009 and projected 2010 by the Software Industry Promotion Agency (Public Organization) and National Electronics and Computer Technology Center has shown in table 1 that Thailand没s expenditures on ICT was at approximately 555,501 million baht, increasing 6.0% from 2008. However, the trend of the expenditures in various groups has maintained its previous trend which were clustered in communication market (65.1%) or 360 billion baht and followed by expenditures in computer hardware, computer software market and computer service market in the amount of 80,869 million baht 64,365 million baht and 48,732 million baht respectively. It is expected that in 2010 the ICT market will grow from 2009 with more positive trend as a result of potential economic recovery and the implementation of 3G services in which it will create demand for equipment and increasing demand for services. Table 1 : Market Value of ICT of Thailand during 2008-2009 and forecast in 2010

1. Computer Hardware 2. Computer Software 3. Computer Services 4. Communications Total ICT

Value (MB) 2553f 2552 2551 88,040 67,884 57,392 382,288 595,604

Market Segmentation (%) 2553f 2552 2551

80,869 75,720 14.8 64,365 62,937 11.4 48,372 24,981 9.6 361,895 360,216 64.2 555,501 523,854 100.0

14.6 11.6 8.7 65.1 100.0

14.5 12.0 4.8 68.7 100.0

Growth (%) 51/53 52/52 8.9 5.5 18.6 5.6 7.2

NA 2.3 NA 0.5 6.0

Source: summary of ICT market survey by SIPA and NECTEC When consider only IT market (table 2), which consists of computer hardware market, computer software market, computer service market and data communications equipments market, it revealed that the market value of IT was 257,146 million baht and it is forecasted that IT market will increase 10.5% with the total value of 284,049 million baht.

Advanced Information Technology Public Company Limited

Market

Table 2 : market value of IT of Thailand during 2008-2009 and forecast in 2010 Value (MB) 2553f 2552 2551

Market

1. Computer Hardware 2. Computer Software 3. Computer Services 4. Data Communications Equipments (wired + wireless) Total IT

88,040 67,884 57,392 70,733

80,869 64,365 48,372 63,540

Growth (%) 51/53 52/52

Market Segmentation (%) 52/53 2552 2551

75,720 62,937 24,981 59,468

8.9 5.5 18.6 11.3

NA 2.3 NA 6.8

31.0 23.9 20.2 24.9

31.5 25.0 18.8 24.7

33.9 28.2 11.2 26.7

284,049 257,146 223,106

10.5

15.26

100.0

Noted: IT market = computer hardware market, computer software market, computer service market and data communications equipments market

Source: summary of ICT market survey by SIPA and NECTEC When considering the major sector of IT user (table 3) showed that in 2009, government and private sectors were the major sector for IT expenditures which accounted for 75.9 or 195,293 million baht while the home user expenditure was 24.1% or 81,853 million baht. The reason that this home user expenditure was low was that products and services in such sector has been concentrated in major companies which is in line with the current policy of the company that the major customers are in the government sector. Table 3 : IT expenditures in 2009 classified by major users

Market

Value (MB)

Segmentation (%)

Major Users

Government Corporate SOHO and and State Household Enterprise

Total

Government Corporate SOHO and and State Household Enterprise

Total

1. Computer Hardware 2. Computer Software

11,039 27,995

22,012 29,020

47,818 7,350

80,869 64,365

13.7 43.5

27.2 45.1

59.1 11.4

100.0 100.0

3. Computer Services 4. Data Communications Equipment Total IT

18,431 28,755 58,041

1,186 5,499

48,372 63,540

38.1

59.4 91.3

2.5 8.7

100.0 100.0

75.9

24.1

100.0

195,293

61,853 257,146

Source: summary of ICT market survey by SIPA and NECTEC As a result of rapid development in technology at present, the government and private sectors has to continue to invest in the IT which leads to continued ICT market expansion even though there were impact from global economic slowdown and domestic political situation. This has been proved by market value of computer service in Thailand that it continues to grow in 2010 with 18.6% increase from 2008 on average whereby System Integration (SI) is expected to grow at 17.1% which will be a positive sign for the company. 30

Annual Report 2009

Table 4 : Market Value of Computer Services Classified by Type during 2008-2009 and forecast in 2010

1. System Integration 2. Network Services 3. Software Maintenance Services 4. Hardware Maintenance Services 5. Data Center and Disaster Recovery Services 6. IT Related Training & Education 7. IT Consulting 8. IT Outsourcing Total

2553f

Value (MB) 2552

15,830 21,486 1,276 3,367 5,677 1,529 2,548 5,679 57,392

13,520 17,724 1,027 2,862 4,779 1,529 2,170 4,761 48,372

2551 12,901 865 2,612 1,199 1,501 1,823 4,080 24,981

Growth rate (%) 51/53 52/52 17.1 21.2 24.2 17.6 18.8 0.0 17.4 19.3 18.6

NA NA 18.7 9.6 NA 1.9 19.0 16.7 NA

Source: summary of ICT market survey by SIPA and NECTEC

Advanced Information Technology Public Company Limited

From the report of SIPA, it is expected that ICT industry will continue to grow with average rate of 7-8% but the some industry will see a significant growth rate because total change in technology especially communication technology which will be contradicted to current economic situation. For example, when oil price increased, the communication activities would increase in order to reduce transportation costs. The long distance broadcast via telepresence or date transmission through multimedia on the high speed internet has created innovation in distance learning, distance medication, entertainment (VDO Broadcast such as IP TV or VDO on Demand and etc.) These are stimulating factors for related industry growth of ICT industry which leads to the continued growth of the company. The company also sees the upcoming opportunity in Green Energy which helps reduce the pollution.

Risk Factors Risk relating to change of technology Due to the rapid change of the information and communication technology industry, the Company, therefore, must consistently follow industry news and technological advances to avoid any potential loss of business opportunities and competitiveness. Given the importance as mentioned above, the Company has encouraged her general employees, engineers, sales and marketing officers in particular, to regularly monitor, study or attend seminars to keep their skills and knowledge up to date. Apart from publicly available information, the Company also directly obtains the information regarding the change of technology from suppliers or trade partners. Risk relating to dependency on major customers The Company has revenues from sales and provided services of network system installation to TOT Corporation Plc. (TOT) and CAT Telecom Plc. (CAT), which combined accounted for approximately 35% of total revenues. The proportion of sales to these two customers is considered quite high as the core revenue of the Company. Nonetheless, these two organizations are categorized as the telecommunication customer group that the government supports given substantial and continual investment needed to develop the domestic network systems and especially the Internet. The governmentรปs current policy to expedite the government agencies in applying IT system in their working processes, including such projects as E-Government, E-Procurement, E-Service, E-Education and High Speed Internet will heavily depend on the availability and quality of the information and communication networks. However, the existing information and communication networks implemented by these two entities are not sufficient to facilitate the development of the aforementioned projects. Within a few years, these two organizations will definitely have to invest in substantial network expansions to support the governmentรปs projects. Thus, it is highly important for the Company to maintain strong relationships with both entities to be able to participate in their upcoming projects. The Companyรปs customer base can be classified into governmental agencies, state enterprises and private entities. It can also be classified according to the customerรปs type of business and customerรปs requirement as follows: Types of Business Telecom I Group : Mobile and Wireless Group Telecom II Group : Fixed Line and Network Group Enterprise Group : Government Agencies and Private Entities

Annual Report 2009

Examples of Customers CAT Telecom Plc. TOT Corporation Plc. Government Agencies, State Enterprise, Private Entities Etc.

Revenue Proportion in 2009 24.28% 14.38% 61.34%

In order to minimize the risk of being highly dependent on any customer, the Company has a policy, which subsequently turned into a business plan, to expand the customer base to private entities, educational institutions and other government agencies and state owned enterprises. As reflected in the Companyรปs revenue structure, the revenue from sales to private sector in 2009 has increased about 41.22% while the remaining was distributed to the other customer groups, including government agencies and educational institutions. The Company plans to put greater emphasis on the sales of its services to the existing key customers, both TOT and CAT, as well as SOHO (Small Office and Home Office) customer group. Moreover, the Company has utilized its valuable human resources to organize training projects for existing customers and soon for potential customers in order to enlarge the customer base. In terms of human resources, there is a plan to arrange and train so that they are ready for such task. Evidently, the Company has been striving to manage the risk relating to dependency on a few major customers and seeking opportunities to market new customer groups. It is likely that going forward revenues from expanded customer base will be comparable to those from major customers. The Company will maintain existing customer base to be as strong as it is.

Risk relating to dependency on any single supplier for more 30% Normally, the Company purchases its products from the manufacturers or their distributors with representative offices in Thailand. Besides, the Company is the distributor and strategic partner of Cisco Systems, one of the worldรปs largest and most well known manufacturers of information and communication technology network and internet system with high quality and durability. In 2009, the Companyรปs purchase of network equipments from Cisco Systems accounted for about 30% of total operating revenues.

Advanced Information Technology Public Company Limited

Risk relating to dependency on key employees The information and communication technology industry in general highly depends on qualified human resources in term of marketing and operation. These valuable human resources utilize their expertise in system design and installation as well as provide proper recommendation for each customer. At present, the Companyรปs Operating Division composes of 246 employees, which are divided into Marketing Department, Sales Department, Customer Service Department, and Software Program Development. Most employees in this division are engineers with about 3-6 years work experiences. In the previous year, employeesรป turnover rate was at approximately 3.00%, which is considered low. Therefore, to minimize such risk, the Company has provided a reasonable compensation package to the employees while at the same time created a good working environment. The Company has also put in place an internal control system to prevent the risk of losing any single employee that may affect its business operations. In terms of the operational management, it can be divided into 3 main functions with Deputy Managing Director supervising each function. Within each function, there are various departments supervising by Vice President of each department. Within each department, there are various teams split by type of products or services. The Managing Director will manage the overall operations to ensure efficiency of the Company. Hence, to have management flexibility, internal meeting among the executives shall be held weekly to acknowledge the problems and determine immediate action plan.

The reason behind such large amount of purchase each year from Cisco Systems was because Cisco Systems没 products are widely accepted by customers in both local and international markets. Given our long-term business partners relationship, the Company is ranked 莽Gold Partner茅 level of Cisco Systems, which is the highest level of Cisco Systems没 ranking of business partners in Thailand. Thus, the Company receives better supports from Cisco Systems than other lower ranked business partners do. Nonetheless, in order to mitigate the risk of over-dependence on any single supplier, the Company also becomes the distributor of other well-known manufacturers, which are as equally as high quality and reputable as Cisco Systems, such as Nortel Networks, 3COM, Alcatel-Lucent and etc. In addition, the Company has determined various measures to diversify the risk by either trying to seek new source of income generation or enlarging the revenue base. Risk relating to project delivery Complex IT projects, like installing information and communication networks and systems, normally take between 6-12 months depending upon the size of the project. If the Company fails to deliver a project on time as stated in the contract, the Company may be fined at 0.02% of the total project value per day (on average). In the last 5 years, the Company was fined less than 1% of the sales revenue, which is considered very low. The main reasons for project delays are deferred deliveries of the equipment from the manufacturers site, followed by equipment / scope changes in the course of the project. In order to mitigate such risk, the Company has established a project management office(PMO). Once a new project has been awarded to the Company, the project management office monitors the complete lifecycle of the project from initial deliveries to final comissioning. However, in some cases that the customers urgently require to use the system, in which case the Company will provide a backup system for their temporary use. Foreign exchange rate risk Generally, approximately 1-2 months prior to the start of the project, the Company must estimate the project cost to use in the bidding process. If imported equipments are needed, the project cost may be affected by the fluctuation of foreign exchange rate. As of 31 December 2009, the Company had 10.6 million of trade account payables in foreign currencies and 9.7 million balance of FX forward contract at the agreed rate of Baht 32.22 - 34.80 per $1 for the purchase of equipments. Given such foreign exchange rate risk, the Company has applied the following strategies for mitigation: 1. Determine the value of foreign exchange rate risk in the calculation of the project cost 2. Enter into FX forward contract to cover the whole amount In 2009, the Company has prepared to utilize various financial tools to enhance efficiency in managing risks to maximize the benefit to the Company.

Annual Report 2009

Management Structure

Board of Director Audit Committee

Recruitment & Remuneration Committee

Executive Committee

President

Executive Senior Vice President Sales and Marketing

Executive Senior Vice President Customer Service

Internal Audit

Executive Senior Vice President Corporate Strategy

Executive Senior Vice President Finance

Marketing

Customer Service

Business Development

Financial Control and Accounting

Communication Technology Sales

Technical Service

Customer Relation

Project Management

Corporate Sales Government Agency Sales

As of December 31th, 2009, the Company has four committees : Board of Directors Audit Committee Recruitment & Remuneration Committee Executive Committee ● ● ● ●

Advanced Information Technology Public Company Limited

The Board of Directors consists of Name 1. 2. 3. 4. 5. 6. 7. 8. 9. 10. 11.

Mr. Thana Mr. Pongtep Mr. Siripong Mr. Suraporn Mr. Kijja Mr. Chodiwat Mr. Chatchai Mr. Kittisak Mr. Pisak Mr. Chokechai Mr. Sripop

Position Chaiprasit Polanun Oontornpan Raktaprajit Laoboonchai Duntanasarn Yenbamroong Sopchokchai Charudilaka Tanpoonsinthana Sarasas

Chairman of the Board Vice Chairman and Independent Director Director and President Director and Vice President - Finance Director and Vice President - Sales and Marketing Director Independent Director* Director Director Independent Director Independent Director

* appointed by Board of Director since November 10, 2009 Company Secretary : Mr. Voravit Wattanakuljarus The Companyûs authorized signatories consist of Mr. Siripong Oontornpan jointly signed with Mr. Suraporn Raktaprajit or Mr. Kijja Laoboonchai with the Companyûs seal affixed. Duties and Responsibilities of the Board of Directors 1. Perform its duties with honesty, integrity and prudence, in accordance with the law, the companyûs objectives and Articles of Association, and resolutions of shareholdersû meetings in order to carefully protect the Companyûs interests. 2. Determine the Companyûs policy, objectives, direction, business plans, and budgets of the company including supervising the management of the executives in accordance with the business policy given except the following matters, which legally require the approval of shareholdersû meeting prior to the implementation, such as increase/decrease in share capital, issuance of debenture, sale or transfer of whole or part of the Companyûs business to others or purchase/transfer of business of other company to become an asset of the Company or an amendment of the Memorandum Of Association or articles of association. 3. The board of directors may appoint a certain directors to form a sub-committee as deem appropriated such as the executive committee, the audit committee, the nomination and remuneration committee in order to perform their duties as given by the board of directors. The Board of directors shall appoint the chairman of each respective sub-committee and shall report to the meeting of shareholders. 4. The board of directors may appoint any person to perform specific tasks under the supervision of the board of directors or render the authority to such person as deem appropriated within the appropriated time period. The board of directors may cancel, revoke, change or amend any authority given. 5. The board of directos shall select a director to be the chairman of the board and shall select one or more directors to be vice chairman of the board and to select a director to be the president of the company. The board of directos shall have to report to the meeting of shareholders. 36

Annual Report 2009

Appoint director designated as the Company没s authorized signatories and the board of directors has the authority to determine or revise/change the list of authorized signatories in which the board of directos shall have to report to the meeting of shareholders. 7. Appoint and consider the compensation package including terms & conditions of the employment of the president 8. Appoint and consider the compensation of directors appointed for the sub-committees as well as other persons selected by the board of director to perform the duties under the supervision of the board of directors. The board of directors shall have to report to the meeting of shareholders. 9. Approve quaterly and annual financial statements in order to present to the shareholders in the annual general meeting. 10. Arrange for the annual general meeting of shareholders as well as extraordinary general meeting under the regulation as stated in the company没s article of association. 11. The board of directors shall convene for meeting at least once every quarter or as per regulation stated in the company没s article of association. The Executive Committee consists of 1. Mr. Siripong Oontornpan 2. Mr. Suraporn Raktaprajit 3. Mr. Kijja Laoboonchai

Position Chairman of the executive committee Executive Director Executive Director

Duties and Responsibilities of the Executive Committee 1. Approve the appointment, change or removal of management for all positions except the president. 2. Approve the company没s compensation structure and benefits of management and employees and propose to the nomination and remuneration committee before proposing to the board of directors. 3. Approve the change in management structure, code of conduct, business process of each division. 4. Approve the borrowing and lending of money or applying credit approval from financial institution including a guarantee or payment of ordinary business transactions with a specific credit limit of each transaction that has already been. The amount incurred in these transactions must be under a limit in accordance with company guideline and authority limit which have already been reviewed by the board of directors. However, the aforementioned credit limit may be appropriately changed according to the judgement of the board of directors. 5. Consider to enter into a commercial contract with credit limit determined by the board of directors. The Audit Committee consists of Name 1. Mr. Chokechai Tanpoonsinthana 2. Mr. Pongtep Polanun 3. Mr. Sripop Sarasas

Position Chairman of the Audit Committee Director Director

Advanced Information Technology Public Company Limited

Name

Duties and Responsibilities of the Audit Committee 1. Review the accuracy of the Companyûs quarterly and annual financial reports in accordance with generally accepted accounting principles, and ensure there is adequate disclosure. 2. Review the Companyûs internal control system and internal audit system to ensure that they are suitable and efficient and ensure the independent of the internal audit department. In addition, the audit committee appoints, change and remove the head of internal audit department or any other departments responsible for internal audit tasks. 3. Review the Companyûs compliance with the laws on securities and exchange, the regulations of the Stock Exchange of Thailand (the çSETé), and the laws relating to the Companyûs business. 4. Consider, select and nominate an independent person to be the Companyûs auditor, propose the auditorûs remuneration, and attend a non-management meeting with him or her at least once a year. 5. Review all connected transactions or transactions that may lead to conflicts of interest, to ensure that they are in compliance with related laws and the regulations of the SET, are reasonable and bring the highest benefit to the Company. 6. Prepare reports to be signed by the Chairman of the Audit Committee and disclosed in the Companyûs annual report. These must contain the following information: a. An opinion on the accuracy, completeness and reliability of the Companyûs financial report. b. An opinion on the adequacy of the Companyûs internal control system. c. An opinion on the compliance with the law on securities and exchange, the regulations of the SET and the laws relating to the Companyûs business. d. An opinion on the suitability of the external auditor. e. An opinion on transactions that may lead to conflicts of interest. f. The number of committee meetings held and the membersû attendance. g. Any comments or opinions received by the committee regarding its performance in accordance with the Charter. h. Any other transaction which, according to the committeeûs opinion, should be known to the shareholders and general investors, subject to the scope of duties and responsibilities assigned by the Board. 7. Perform other tasks requested by the Board of Director, which the Audit Committee agrees to. The Recruitment and Remuneration Committee consists of Name 1. 2. 3. 4. 5.

Mr. Pongtep Mr. Siripong Mr. Sripop Mr. Kittisak Mr. Suraporn

Position Polanun Oontornpan Sarasas Sopchokchai Raktaprajit

Chairman of the Recruitment and Remuneration Director Director Director Director

Duties and Responsibilities of the Recruitment and Remuneration Committee 1. Develop criteria, selection process, evaluation as well as compensation for the President 2. Propose the persons for the approval from the Board of Directors in case of vacancy in the director position resulting from other reasons excluding the term retirement from the position or to increase the number of director according to the resolution of the Board of Directors for the approval of the shareholders. 38

Annual Report 2009

3. 4. 5. 6. 7.

Propose to the Board of Directors the name of person to receive approval from the shareholder没s meeting in case of vacancy of the director position due to term retirement. Propose to the Board of Director for the approval of the President that must retire from being an employee in the Company according to the current operating regulations. Propose any person that the Board of Directors has delegated its authority to perform a specific task for the company. Recommend the appropriate remuneration of the Company没s Board of Directors and sub-committees and then propose to the Board of Directors for the approval from the ordinary shareholders没 meeting. Recommend the appropriate bonus and salary increase for the management and employees to the Board of Directors for the approval.

The Management of the Company consists of 1. 2. 3. 4. 5. 6. 7. 8. 9. 10. 11. 12. 13. 14. 15. 16. 17. 18. 19.

Mr. Siripong Mr. Kijja Mr. Suraporn Mr. Veerachai Mr. Asawin Mr. Metta Mrs. Netnapit Mr. Somchai Mr. Chumkiat Mr. Chodiwat Mr. Ongard Mr. Narachet Mr. Supat Mr. Putthi Ms. Sureerat Mr. Kittipan Mr. Ralf Mr. Kriengkrai Mr. Voravit

Position Oontornpan Laoboonchai Raktaprajit Chandranipapongse Kangwolkit Charuchinda Oontornpan Vibhubhinyo Laoseriwatanakul Duntanasarn Harntaweesompone Chattrathitipan Dulyakupt Thamrongsiriwat Prachayanukul Kannikathananont Hundertmark Nisyant Wattanakuljarus

President Executive Senior Vice President - Sales and Marketing Executive Senior Vice President - Finance Executive Senior Vice President - Customer Service Executive Senior Vice President - Corporate Strategy Senior Vice President - President Office Senior Vice President - Corporate Affairs Senior Vice President - Advanced Technology Senior Vice President - Marketing Senior Vice President - Enterprise Sales Senior Vice President - Telecom Sales Senior Vice President - Government Sales Senior Vice President - Technical Support Senior Vice President - Customer Service Senior Vice President - Financial Controller Senior Vice President - Project Management Senior Vice President - Business Development Senior Vice President - Business Development Senior Vice President - Company Secretary

Duties and Responsibilities of the President 1. Perform duties as assigned by the Board of Directors or the Executive Committee under the Company没s objectives, regulation and articles of association. In dealing with transactions, the Board of Directors has clearly approved the maximum limit of each transaction, which should not exceed the limit approved by the Board of Directors. However, the maximum limit of each transaction may be appropriately revised upon the judgment of the Board of Directors. The delegation of authority to the President should not include transactions in which the President or any other person with conflict of interest to be involved (as

Advanced Information Technology Public Company Limited

Name

2. 3. 4. 5. 6.

determined the notification of the Securities and Exchange Commission) with the Company or its subsidiaries. Any duties performed should conform to the Notification of the Stock Exchange of Thailand article çRules, procedures, and disclosures of interconnected transactions of the listed companyé. An exemption is for transaction with normal business transaction under value and condition that is market price or not vary from non-connected person. Prepare the Companyûs business plan, business strategy, and yearly budget to be proposed to the Executive Committee. Follow the business plan, business strategy, and yearly budget which have been approved by the Executive Committee. Determine the organization structure and scope of management to include every detail of selection, training, hiring, and employment termination. Authorize to appoint or discharge the employee whose position is lower than the President. Perform duties with honesty for prudence protection of the benefits of the Company.

Directors and Management Remuneration in 2009 Board of Directorsû Remuneration

Name 1. Mr. Thana Chaiprasit 2. Mr. Pongtep Polanun

Position

Chairman of the Board Vice Chairman and Independent Director 3. Mr. Siripong Oontornpan Director 4. Mr. Kittisak Sopchokchai Director 5. Mr. Suraporn Raktaprajit Director 6. Mr. Chatchai Yenbamroong Independent Director 7. Mr. Kijja Laoboonchai Director 8. Mr. Chokechai Tanpoonsinthana Independent Director 9. Mr. Sripop Sarasas Independent Director 10. Mr. Pisak Charudilaka Director 11. Mr. ChodiwatDuntanasarn Director Total

Monthly Remuneration Remuneration Fee Per year

Annual Gratuity 2008

Total

100,000 72,000

180,000 96,000

714,285.71 357,142.86

994,285.71 525,142.86

72,000 72,000 72,000 60,000 72,000 72,000 72,000 72,000 72,000 808,000

96,000 96,000 96,000 96,000 96,000 96,000 96,000 96,000 96,000 1,140,000

714,285.71 357,142.86 357,142.86 357,142.86 357,142.86 714,285.71 357,142.85 357,142.86 357,142.86 5,000,000

882,285.71 525,142.86 525,142.86 513,142.86 525,142.86 882,285.71 525,142.85 525,142.86 525,142.86 6,948,000

Remarks: The remuneration is according to the resolution from the shareholdersû meeting No. 1/2009 on April 24th, 2009 1. The Chairman of the Board of Directors received remuneration fee of 20,000 baht per meeting and received monthly remuneration of 15,000 baht. 2. The Director received monthly remuneration fee at 12,000 baht and received monthly remuneration 8,000 baht. 3. The total annual gratuity in 2008 amounted to 5 million baht proportionately shared by the Directors.

Annual Report 2009

The Audit Committee没s Remuneration

Name 1. Mr. Chokechai Tanpoonsinthana 2. Mr. Pongtep Polanun 3. Mr. Sripop Sarasas

Position Chairman Director Director Total

Monthly Remuneration Remuneration Fee Per year 80,000 60,000 45,000 185,000

Annual Gratuity 2008

180,000 120,000 120,000 420,000

Total -

260,000 180,000 165,000 605,000

Remarks : The Directors没 compensation are according to the resolution of the shareholders没 meeting No.1/2009 on April 24th, 2009 1. The Chairman received remuneration fee at 20,000 baht per time and received monthly remuneration 5,000 baht. 2. The Directors received remuneration fee of 15,000 baht per time and received monthly remuneration 10,000 baht.

The Recruitment and Renumeration Committee没s Renumeration

1. 2. 3. 4. 5. 6. 7. 1 2

Total 20,000

15,000 30,000 15,000 15,000 20,000

15,000 130,000

- 15,000 - 130,000

1st Set of Recruitment & Renumeration Committee (Active until March 2009) 2nd Set of Recruitment & Renumeration Committee (Appointed as of April 2009)

15,000 30,000 15,000 15,000 20,000

Advanced Information Technology Public Company Limited

Position Mr. Pongtep polanun Chairman of the Committee2 Mr. Siripong Oontornpan Director2 Mr. Sripop Sarasas Director1 2 Mr. Kittisak Sopchokechai Director1 2 Mr. Suraporn Raktaprajit Director2 Mr. Chokechai Tanpoonsinthana Chairman of the Committee1 Mr. Kijja Laoboonchai Director1 Total Name

Monthly Renumeration Renumeration Annual Fee Per year Gratuity 20,000 -

Directors and Management Remuneration Committee Audit Committee

Transaction

Remuneration Fee and Directorsû Compensation Directors who are the member Salary, Bonus, Remuneration Fee of the management Committee and Directorsû Compensation Directors who are not member Remuneration Fee and Directorsû of the Audit Committee and Compensation the Executive Committee

2009

2008

unit : million baht 2007

2.5

1.9

2.9

104.5

92.0

69.5

2.6

1.7

3.3

Recruitment of Directors and Executives Duties and Responsibilities of the Executive Committee 1. Propose the size, details, and term period of the Board of Directors and sub-committee. 2. Approve the criteria for the sub-committee. 3. Propose to the Board of Directors the appropriate persons in case of vacancy in the director position for reasons other than retirement of director term or to increase the number of Directors according to the resolution of the Board of Directors. 4. Propose to the Board of Directors for approval from the shareholdersû meeting in case of vacancy in the director position due to retirement of director term. 5. Propose to the Board of Directors for approval of the appointment of the President which must be discharged from the Companyûs employees according to the current effective operating regulations. The proposal of the Nomination and Remuneration Committee to the Board of Directors will receive approval from the shareholdersû meeting. Company Secretary On May 1, 2009, the Board of Directors passed a resolution to appoint Mr. Voravit Wattanakuljarus as company secretary who reports directly to the Board of Directors and has the duties and responsibilities as follows: 1. Maintain registration record of the directors. 2. Facilitate and maintain the invitation letter to the Board of Directorsûmeeting, related minutes of meeting and companyûs annual report. 3. Facilitate and maintain the invitation letter for shareholdersû meeting and report shareholdersû resolutions. 4. Monitor and ensure that the Board is in compliance with all related laws and regulations. 5. Faciliate other matters related to the Board of Directors, the management and the shareholders. 6. Follow up on all resolutions passed and instructions given by the Board and shareholdersû meetings. 7. File all documents and related records. 8. Perform any other actions specified under the Capital Market Supervisory Board.

Annual Report 2009

Corporate Governance policy The company recognized the importance of good corporate governance in compliance with the guideline from the SET. The company has adopted the aforedmentioned guideline to improve its business operation by increasing work transparency with audit trail and efficient risk management and control. It has operated under the high moral and ethical standard for business professional. There is internal control system to ensure transparency and equitable treatment as well as protection of shareholdersû interest under the following 5 sections. 1. Rights and Equitable Treatment of Shareholders and the Role to Stakeholders 2. Disclosure of Information and Transparency 3. Internal Control and Risk Management Systems 4. Code of Conduct 5. The Board of Directors

Section 1 : Rights and Equitable Treatment of Shareholders, and the Role to Stakeholders

Rights and Equitable Treatment of Shareholders In 2009 there was one shareholdersû meeting for the annual general meeting of which the company distributed the invitation letter of both Thai and English version together with the all related information for each agenda to the shareholders 14 days prior to the shareholdersû meeting date. In each agenda there were opinion of board of directors and complete minutes of meetings for shareholdersû review. During the general shareholder meeting, there was sufficient time allocated for each agenda and each shareholder had been treated equitably for the expression of opinions and questions asked during the meeting as per proposed agenda. Shareholdersû Meeting During the shareholdersû meeting in 2009 there were directors and members of the Audit Committee attending the shareholdersû meeting. The chairman of the meeting had sufficiently allocated time and treated each shareholders equitably in their expression of opinions and questions for the meeting for each agenda proposed. All important discussion issues and questions had been properly recorded in the minutes of meeting. The Company assigns the highest priority to the rights of stakeholders which are customers, suppliers, shareholders, investors, independent auditors, competitors, communities as well as other social agencies in which all parties have different objectives and expectations from the company. The company fairly considers rights of all stakeholders by taking opinions or suggestion from those stakeholders before making decision to have impacts to those stakeholders.

Section 2 : Disclosure of Information and Transparency 1.

The Board of Directors emphasize the important of information disclosure that is accurate, complete, transparent, and thoroughly disseminate to all stakeholders for the financial information and general information, especially critical information that has impact on stock price of the company. The company will disseminate all information for investors and related parties through the SET public disclosure news and the company has established specific department to be responsible for information disclosure to shareholders, analyst and related institutions.

Advanced Information Technology Public Company Limited

The shareholders and investors can reach the company for news update through the following channels: 1. Tel : 0-2275-9400 2. Email : ir@ait.co.th 3. Website : http://www.ait.co.th The company has gathered important information which are the list of directors, summary of financial information, stock price trading information, annual report, shareholders没 information such as major shareholders, shareholders没 meeting, dividend policy. The shareholders and investors can also submit their questions or concern regarding investment in AIT through the company没s website 4. Annual Opportunity Day 2

The Company has a clearly and transparently defined remuneration policy, in which remuneration is comparable to industry peer and suitable for the duties and responsibilities assigned and also high enough to attract and retain qualified directors. The shareholders have already approved the remuneration policy. As for the remuneration of the management, it will be in compliance with policy determined by the Board of Directors and indexed to the performance of the company and operating result of each management. At present, the company has the Nomination and Remuneration Committee to oversee the appropriate compensation by using information of comparable industry peer with the simily business size as well as taken into account of the company没s operating performance. The company has established policy guideline governing related party and connected transactions to control these transactions and avoid conflicts of interest. In case of a director who has a conflict of interest in such agenda, he shall disclose the information of such conflict of interest to the meeting and shall have no rights to vote on such agenda. In addition, the company has the policy and supervision process to prevent the director, management, and related person to take advantage of internal information for their own benefits.

Section 3 : Internal Control and Risk Management Systems 1.

Internal Controal and Internal Audit System The company has focused on internal controls in management and operational levels. The Office of Internal Audit functions to ensure that key operational and financial activities of the company has effectlvely performed in accordance with guidelines. Its functions included monitoring compliance with laws and regulations related to the company. However, due to lack of experience internal audit staff, the company has hired D.I.A Audit Company who provides internal audit services to coordinate with the Office of Internal Audit to determine the adequacy of internal control system of all systems. In the 2009 the adequacy of internal control of all departments had been performed four times. The internal audit reports were presented to the Audit Committee meeting of 4 times in which every time the Audit Committee considered observations and suggestions that appear in the report. And the report of such audit has been adopted to determine and improve deficiencies. The management will report progress to the Audit Committee. The Audit Committee shall track progress in improving deficiencies in the system therefore it has to hire the independent internal audit units so it can serve to check and balance system. The Board of Directors has determined that the internal audit department reports directly to the Audit Committee and its performance will be evaluated by the Audit Committee.

Annual Report 2009

Internal Control The Board of Directors Meeting No. 6 / 2009 on 22 December 2009 together with the Audit Committee of 3 members. The committee assessed the adequacy of internal control of the 5 areas which are the organization, work environment, risk management, operational control of the management, information systems and data communications as well as tracking systems. The committee is of the opinion consistent with the Audit Committee that it has adequate internal controls and in compliance with the SEC没s evaluation guideline.

Section 4 : Code of Conduct The Board of Directors has a policy to prepare guidelines on ethical business conduct for the directors and employees to understand the standards of conduct to the company, all stakeholders including the public, social, including conflicts of interest and the protection of company没s properties.

Section 5 : The Board of Director

2. 3.

The Chairman of the Board and the Chairman of the Executive Committee must be knowledgeable and have experience and qualification and shall not be the same person in order to counterbalance the power and to separate the regulatory functions and the management functions. The Board of Directors shall set business direction, business plans, investment plan and financing plan together with supervision, control and monitor the business operations to follow the business plan. The Chairman of the Board is the shareholders, which holds 1.25 percent of total shares. The Chairman shall not be the same person as the President to separate the duties of governance policy and routine management. In addition, the structure of the Board of Directors consists of independent proportions of 1/3 of the total members which will result in the counterbalance and management review. To counterbalance the non-executive directors, the company has 11 directors as follow: Directors owing shares but not a management 3 persons Executive Directors 4 persons Independent Directors 4 persons* * Remark: Mr. Chartchai Yenbamroong was appointed as independent directors under the Board没s resolution No. 5/2009 The Board of Directors is responsible directly to the financial statements and financial information that appears in the Annual Report. The financial statement has been reported in compliance with the financial accounting standards generally accepted in Thailand. The selection of appropriate accounting policies and practices held regularly. The report has been carefully considered and and used under discretion and best estimates in the preparation as well as the sufficient important information disclosure in the note of the financial statement. The Board of Directors has maintained effective internal control system to reasonably ensure that accounting records are accurate, complete and sufficient to serve on that property and to determine vulnerability to prevent fraud or materially wrong actions. The Board has appointed the Audit Committee which includes non-executive directors who is responsible for overseeing and reporting on the quality of internal control systems. The Board of Direcotrs is of the opinion that internal control systems of the overall company is satisfied and can build confidence in the reliability of the financial statements.

Advanced Information Technology Public Company Limited

The company has scheduled a meeting of Directors at least once every quarter with extra meetings as needed. The meeting has a clear agenda set in advance and has agenda for review and monitor performance on a regular basis. The invitation letter with agenda and documentation of meetings prior to the meeting time is 7 days in advance before every meeting so that the directors shall have sufficient time to review before the meeting. In 2009 there were 6 Board meeting. Table shows the no. of of meetings attended by each Directors Name

1. 2. 3. 4. 5. 6. 7. 8. 9. 10. 11.

Mr. Thana Chaiprasit Mr. Pongtep Polanun Mr. Siripong Oontornpan Mr. Kittisak Sopchokchai Mr. Suraporn Raktaprajit Mr. Chatchai Yenbamroon Mr. Kijja Laoboonchai Mr. ChokechaiTanpoonsinthana Mr. Sripop Sarasas Mr. Chodiwat Duntanasarn Mr. Pisak Charudilaka

Position

# of attendance

Chairman Vice Chairman and Independent Director Director Director Director Independent Director Director Independent Director Independent Director Director Director

5 6 6 6 6 5 6 6 6 6 6

Sub-committee The Board of Directors has appointed the Audit Committee on March 20, 2003 to assist in corporate governance of companies. The authorities and duties of the Audit Committee are stated in the details of management structure. In 2009 the Audit Committee convened the meeting 5 times all as per the following table showing the no. of attendances by the Audit Committee. Name 1. Mr. Chokechai Tanpoonsinthana 2. Mr. Pongtep Polanun 3. Mr. Sripop Sarasas

Position Chairman of the Audit Committee Member of the Audit Committee Member of the Audit Committee

# of attendance* 5/5 5/5 4/5

* Remark : The meeting 1/2009 was the meeting between the Audit Committee and the Auditor without the management participation and the committee did not request for meeting remuneration

The Board of Directors has appointed the Nomination and Remuneration Committee on August 14, 2009 to assist in corporate governance of the company. The authorities and duties are stated in the details of management structure.

Annual Report 2009

In 2009, the Recruitment and Remuneration Committee has convened for meeting 2 times as per the table showing the no. of attendances. Name 1. Mr. Pongtep Polanun 2. Mr. Siripong Oontornpan 3. Mr. Sripop

Sarasas

4. Mr. Kittisak

Sopchokchai

5. Mr. Suraporn Raktaprajit 6. Mr. Chokechai Tanpoonsinthana 7. Mr. Kijja

Laoboonchai

Position Chairman of the Recruitment and Remuneration Committee2 Member of the Recruitment and Remuneration Committee2 Member of the Recruitment and Remuneration Committee 1 2 Member of the Recruitment and Remuneration Committee 1 2 Member of the Recruitment and Remuneration Committee2 Chairman of the Recruitment and Remuneration Committee1 Member of the Recruitment and Remuneration Committee1

# of attendance* 1/1 1/1 2/2 1/2 1/1 1/1 1/1

means: 1st Recruitment and Remuneration committee (active until March 2009) 2 means: 2nd Recruitment and Remuneration committee (active from April 2009)

Key responsibilities of each Committee Board of Directors 1. Determine, control and supervision the approach and strategy of the business operation of the company. 2. Determine overall policy and procedures of the company没s business operation in compliance with the law, regulations, shareholders没 resolutions and ethical standards with honesty and caution. 3. Develop control, reliability and confidence to the company to ensure that the company没s operations comply with legal requirements and expectations of shareholders and stakeholders. 4. Control, monitor and evaluate the resule of management operations including the company没s operating results. 5. Develop structures and business procedures to ensure risk management, corporate governance and internal audit as well as appropriated internal control. The Audit Committee 1. Ensure that the company has accuratedly and sufficiently reported financial results for the quarter and fiscal year. 2. Review its system of internal controls (internal control) and internal audit (internal audit) appropriate and effective and consider the independence of internal audit department as well as to consider approval of appointment, change and removal of the head of internal audit department or other department responsible for internal audit.

Advanced Information Technology Public Company Limited

3. 4.

Review its compliance with the Securities and Exchange Law, SET没s regulations and related business law of the company. Consider, nominate individuals who are independent to act as auditor of the company and propose compensation of such person as well as meeting with the auditor without management participation of at least once a year. Consider connected transactions or transactions that may have conflicts of interest to ensure its compliance with laws and regulations of the SET to ensure that such transactions are the most reasonable and benefit the company. Develop report of the Audit Committee and disclose in its annual report which must be signed by the Chairman of the Audit Committee and must contain at least the following. 1) Comment on the full accuracy, completeness and reliability of the financial reports of the company. 2) Comment on the adequacy of internal control systems of company. 3) Comment on compliance with the Securities and Exchange Law, SET没s regulations and related law of the business of the company. 4) Opinion about the suitability of the auditor. 5) Comment on items that may have conflicts of interest. 6) The number of meetings of the Audit Committee and the participation of each Audit Committee. 7) Comment or observe by the Audit Committee没s duties according to the Charter. 8) Other items that shareholders and investors should note under the scope of duties and responsibilities assigned by the Board of Directors. To perform any other tasks as assigned by the Board of Directors of the Company and approved by the Audit Committee.

The Executive Committee 1. Consider screening business plans, budget plans, annual spending and investment plans of the company to propose for approval by the Board of Directors. 2. Oversee operations of the Company to comply with the plan as well as to comply with the law, regulations of the company and regulations of the Stock Exchange of Thailand. 3. Oversee the Company没s internal control systems and in accordance with recommendation and warning of the Audit Committee. 4. Other duties as assigned by the Board of Directors. 5. Report the results of its operations and inform the Board of Directors quarterly.

Annual Report 2009

The Nomination and Remuneration Committee 1. Prepare guidelines, selection, evaluation as well as compensation of the President. 2. Nominate and propose the persons for the approval from the Board of Directors in case of vacancy in the director position resulting from other reasons excluding the term retirement from the position or to increase the number of director according to the resolution of the Board of Directors for the approval of the shareholders. 3. Nominate and propose the appropriated persons to the Board of Directors for consideration to propose for shareholders approval in general meeting of shareholders in case of a director due to terms ended. 4. Nominate and propose to the Board of Directors for approval of the appointment of the President which must be discharged from the Companyûs employees according to the current effective operating regulations. 5. Nominate and propose any person that the Board of Directors may assign works for the company. 6. Recommend guidelines and appropriate remuneration of the Board of Directors and Sub-committee and present to the Board of Directors to consider proposing to the Annual General Meeting of shareholders for approval. 7. Provide guidance for bonus payments and the salary increase of executives and employees to the Board of Directors for approval. 49

Advanced Information Technology Public Company Limited

Company Secretary 1. Maintain registration record of the directors. 2. Facilitate and maintain the invitation letter to the Board of Directorsû meeting, related minutes of meeting and companyûs annual report. 3. Facilitate and maintain the invitation letter for shareholdersû meeting and report shareholdersû resolutions. 4. Monitor and ensure that the Board is in compliance with all related laws and regulations. 5. Faciliate other matters related to the Board of Directors, the management and the shareholders. 6. Follow up on all resolutions passed and instructions given by the Board and shareholdersû meetings. 7. File all documents and related records. 8. Perform any other actions specified under the Capital Market Supervisory Board.

Use of Inside Information The company has a policy and method in place for monitoring management in using its inside information for the individual没s benefits as follows: 1. Educate directors and executives about the duty to report their securities holdings of themselves and their spouses as well as children of immaturity and also inform of the penalty of wrongdoing under the Securities and Exchange Act of 1992 and the regulations of the Stock Exchange of Thailand. 2. The company executives are required to report changes in securities holdings to the Office of the Securities and Exchange Commission under Section 59 of the Securities and Exchange Act of 1992 and deliver a copy of this report to the company on the same day in which the report is sent to the Office of the Securities and Exchange Commission. 3. The company will send a circular to inform management who has material inside information that affects securities price they he must suspend the trading of company shares before the announcement of financial statements or making such information public and shall not disclose such material information to any persons. 4. Disclose the securities holding of company没s directors and executive completely and accurately in the annual report as required by the Office of the Securities and Exchange Commission. In addition to all employees follow the same guidelines regarding the use of inside information. The company has published this procedure in the employees没 manual. Human Resources Policy Due to the fact that human resources are a key factor that make a company successful, the company continuously focuses on human resources development to ensure that its employees have highest potential in all areas, such as knowledge, expertise specializing in providing its customers effective services. In 2009 the company has set a budget for the development of human resources of 8.9 million baht or approximately 5 percent of the compny没s annual expense budget. Since 2008, the number of employees working in the fields has increased in line with the growth in revenues of the company. However, the increase in the number of employees which the management has closely monitored and controlled, is not too high as shown in the table below. Description No. of employees at year end (person) Annual expenses related to employees (million baht)

Annual Report 2009

2009 246 417.45

2008 245 335.28

2007 227 205.76

In 2009 the company has totaled 246 employees which can be broken down into each department as follows Department

No. (person)

The management Office of the President Advanced Technology and Program Development Department Sales and Marketing Department Customer Service Department Finance Department Human Resources and Admin Department Corporate Strategy Department Total

19 2 8 38 106 40 32 246

In 2009 the company paid employee expense in the amount of 417.45 million baht which include salary, commission, bonus and other employee related expenses.

Advanced Information Technology Public Company Limited

Internal Control and Internal Audit The Company has enforced the application of internal control system both at the management and operating levels. The duty of the internal audit is to monitor and review to ensure that the Company efficiently follows procedures, including related laws and regulations, in relation to key operations and major financial activities. However, given limited knowledge and expertise of the internal audit personnel, the Company has hired DIA&S Company Limited to provide internal audit and control services as well as cooperate with the Companyรปs internal audit in evalating sufficiency of internal control system. In 2009, there are 4 of such evaluations of the internal control system in every departments of the Company. The internal audit report was proposed to the Audit Committee at the 4 Audit Committee meetings, 4 times in total. The Audit Committee will take into consideration various gobservations and recommendations presented in the report. Later on, the Company accepts for further deliberation and subsequently makes improvement on reported deficiencies. The management will report the progress while the Audit Committee will follow the progress of improving the operating system. In order to allow the internal audit to independently perform their duties of check and balance, the Board of Directors has determined that the internal audit department directly reports to and is evaluated by the Audit Committee. Internal Control At the Board of Directorsรป Meeting No. 6/2009 held on 22 December 2009 with the presence of the 3 members of the Audit Committee, the Board of Directors has evaluated the sufficiency of the Companyรปs internal control system in 5 areas including organization control and environmental, risk management, management control activities, information and communication and monitoring. The Board of Directors has rendered an opinion which is in line with that of the Audit Committee that the Companyรปs internal control system is sufficient and conformed with the SECรปs assessment form.

Annual Report 2009

Related Transactions

Consolidated Financial Statements 2009 2008 Transactions with subsidaries (eliminated from consolidated financial statements) Other income Cost of sales and services Transaction with related company (related due to minority shareholder of the subsidiary) Cost of sales and services

Separete Financial Statements 2009 2008 Transfer Pricing Policy

0.2 22.7

0.2 21.3

Agreed upon price Agreed upon price

4.6

15.6

Agreed upon price

Advanced Information Technology Public Company Limited

The company has issued guidelines regarding the related transactions in compliance with the requirements of the SEC没s notification and the Stock Exchange of Thailand as well as related laws. That follows. 1. Measures or procedures for approval of related transactions Typically, the related transactions of the company is the cash advance to directors or employees to develop and/or operate the project, which are controlled by the budget cost of each project. The company has clearly defined a set of steps in the approval and the authorized person to approve. For the approval process of related transactions in the future, the company announced the guideline of having transactions with major shareholders, directors and executives associated persons for all employees to be informed and complied with. 2. Policy or tendency of the future related transactions Trend of future related transactions include (1) cash advance paid to directors and employees are items that occur regularly since the operations of the company need to send staff to make delivery, install equipment or travel to examine the work acceptance process of customers. Therefore, the company has set a budget to control the cash advance (2) cash on hand for daily operation reserved to pay about baht 290,000 by the deputy senior finance director who will manage and determine the appropriate disbursement of each transaction. Moreover, the Company has set a written the cash reserves policy to pay day and (3) the Company has no policy to use the directors没 property to guarantee payment. Fore related transactions in the future, the Company has assigned the Audit Committee and / or directors of the Company to verify the reasonableness of transaction in compliance with the law and notification of the Securities and Exchange Commission prior to making the transaction. According to the audited financial statements ended December 31, 2009 by the auditor, the list of related transaction is the following. During the year, the Company and its subsidiaries have significant related transactions with related parties in which they were normal terms and conditions as for ordinary business practice which can be summarized as follows.

Outstanding account payable between the Company and related companies as of December 31, 2008 and 2009 as follows Consolidated Separete Financial Statements Financial Statements 2009 2008 2009 2008 Trade accounts payable - related parties subsidiary Maple Plus Co., Ltd. Related company Scale Plotting Center Co., Ltd. (related by being minority shareholder of the subsidiary) Total accounts payable - related parties

Annual Report 2009

0.3

4.5 4.5

0.3

Board of Directorsû Responsibility for Financial Reporting The Board of Directors is responsible for Advanced Information Technology Limitedûs financial statements and Advanced Information Technology Public Company Limited and its subsidiariesû consolidated financial statements, including the financial information presented in this annual report. The aforementioned financial statements are prepared in accordance with generally accepted accounting principles, using careful judgment and the best estimation. Important information is adequately and transparency disclosed in the notes to financial statements for the Company shareholders and investors. The Board of Directors has provided and maintained risk management system and appropriate and efficient internal controls to ensure that accounting records are accurate, reliable and adequate to protect its assets and uncover any weakness that may be present in order to prevent fraud or materially irregular operations.

The Board of Directors considers the Companyûs overall internal control system satisfactory and provides credibility and reliability to Advanced Information Technology Public Company Limitedûs financial statements and Advanced Information Technology Public Company Limited and its subsidiariesû consolidated financial statements for the year ended December 31, 2009. The Board of Directors also believes that all these financial statements have been prepared in accordance with generally accepted accounting principles and related regulations.

Mr. Thana Chaiprasit Chairman of the Board

Mr. Siripong Oontornpan President

Advanced Information Technology Public Company Limited

In this regard, the Board of Directors has appointed an Audit Committee to be responsible for reviewing the accounting policy financial reports, review internal controls, internal audit and risk management system. The Audit Committee has also reviewed a disclosure of related party transactions. All their comments on these issues have included in the Audit Committee Report, which presented in this annual report. The financial statements of the Company and the consolidated financial statements of Company and its subsidiaries have been examined by an external auditor, ERNST & YOUNG OFFICE LIMITED. To conduct the audits and express an opinion in accordance with generally accepted auditing standards, the auditor was provided with all of the Companyûs records and related data as requested. The auditorûs opinion is presented in the auditorûs report as part of this annual report.

Auditor没s Report Report of Independent Auditor To the Shareholders of Advanced Information Technology Public Company Limited I have audited the accompanying consolidated balance sheets of Advanced Information Technology Public Company Limited and its subsidiaries as at 31 December 2009 and 2008, and the related consolidated statements of income, changes in shareholders没 equity and cash flows for the years then ended, and the separate financial statements of Advanced Information Technology Public Company Limited for the same periods. These financial statements are the responsibility of the management of the Company and its subsidiaries as to their correctness and the completeness of the presentation. My responsibility is to express an opinion on these financial statements based on my audits. I conducted my audits in accordance with generally accepted auditing standards. Those standards require that I plan and perform the audit to obtain reasonable assurance about whether the financial statements are free of material misstatement. An audit includes examining, on a test basis, evidence supporting the amounts and disclosures in the financial statements. An audit also includes assessing the accounting principles used and significant estimates made by management, as well as evaluating the overall financial statement presentation. I believe that my audits provide a reasonable basis for my opinion. In my opinion, the financial statements referred to above present fairly, in all material respects, the financial position of Advanced Information Technology Public Company Limited and its subsidiaries and of Advanced Information Technology Public Company Limited as at 31 December 2009 and 2008, and the results of their operations, and cash flows for the years then ended in accordance with generally accepted accounting principles.

Thipawan Nananuwat Certified Public Accountant (Thailand) No. 3459

Ernst & Young Office Limited Bangkok: 23 February 2010

Annual Report 2009

Balance sheets Advanced Information Technology Public Company Limited and its subsidiaries As at 31 December 2009 and 2008 (Unit: Baht)

Assets Current assets Cash and cash equivalents Trade accounts and notes receivable - net Unbilled receivable Inventories - net Other current assets Total current assets Non-current assets Restricted bank deposits Investments in subsidiaries Building improvement and equipment - net Equipment for lease - net Intangible assets - net Other non-current assets Total non-current assets Total assets

7 8

9 10 11 12 13

244,642,225 168,687,006 1,080,803,481 820,744,182 32,637,019 67,866,376 469,908,123 491,962,248 6,987,161 6,369,530 1,834,978,009 1,555,629,342

Separate financial statements 2009 2008

243,183,699 1,080,803,481 32,637,019 468,695,340 5,082,721 1,830,402,260

164,160,925 820,744,182 67,866,376 481,855,847 4,587,299 1,539,214,629

73,271,234 78,248,269 73,271,234 78,248,269 5,499,700 13,499,100 17,434,995 19,366,352 16,782,233 18,326,158 6,793,558 36,359,730 6,793,558 36,359,730 3,371,493 1,645,927 3,333,490 1,607,343 8,355,720 4,497,720 8,175,820 4,235,020 109,227,000 140,117,998 113,856,035 152,275,620 1,944,205,009 1,695,747,340 1,944,258,295 1,691,490,249

The accompanying notes are an integral part of the financial statements.

Advanced Information Technology Public Company Limited

Note

Consolidated financial statements 2009 2008

Balance sheets (continued) Advanced Information Technology Public Company Limited and its subsidiaries As at 31 December 2009 and 2008 (Unit: Baht)

Note Liabilities and shareholders没 equity Current liabilities Short-term loans from financial institutions Trust receipts Trade accounts payable Related parties Unrelated parties Total trade accounts payable Unbilled payable Other current liabilities Corporate income tax payable Advance receipts from customers Accrued expenses Others Total current liabilities Total liabilities

Consolidated financial statements 2009 2008

472,149,210 472,149,210 133,347,699

4,494,000 280,875 218,699,841 471,995,475 217,513,124 223,193,841 471,995,475 217,793,999 91,568,530 131,936,259 91,415,197

40,802,596 132,493,417 92,960,160 46,679,784 918,432,866 918,432,866

15,999,107 40,802,596 15,999,107 14,566,885 132,493,417 13,286,052 39,528,578 92,824,608 39,283,142 38,336,205 43,736,172 37,304,757 822,077,051 913,788,527 813,966,159 822,077,051 913,788,527 813,966,159

The accompanying notes are an integral part of the financial statements. 58

Annual Report 2009

Separate financial statements 2009 2008

365,000,000 33,883,905

- 365,000,000 - 33,883,905

Balance sheets (continued) Advanced Information Technology Public Company Limited and its subsidiaries As at 31 December 2009 and 2008 (Unit: Baht)

Note

Separate financial statements 2009 2008

345,000,000

345,000,000 345,000,000 345,000,000

15 15

303,451,325 224,172,200

300,000,000 303,451,325 300,000,000 220,715,902 224,172,200 220,715,902

34,500,000 462,209,979

34,500,000 34,500,000 34,500,000 315,003,144 468,346,243 322,308,188

1,024,333,504

870,219,046 1,030,469,768 877,524,090

1,438,639 3,451,243 1,025,772,143 873,670,289 1,030,469,768 877,524,090 1,944,205,009 1,695,747,340 1,944,258,295 1,691,490,249

The accompanying notes are an integral part of the financial statements.

Advanced Information Technology Public Company Limited

Shareholders没 equity Share capital Registered 69,000,000 ordinary shares of Baht 5 each Issued and fully paid-up 60,690,265 ordinary shares of Baht 5 each (31 December 2008: 60,000,000 ordinary shares of Baht 5 each) Share premium Retained earnings Appropriated-statutory reserve Unappropriated Equity attributable to the company没s shareholders Minority interest - equity attributable to minority shareholders of subsidiaries Total shareholders没 equity Total liabilities and shareholders没 equity

Consolidated financial statements 2009 2008

Income statements Advanced Information Technology Public Company Limited and its subsidiaries For the years ended 31 December 2009 and 2008 (Unit: Baht)

Note Revenues Sales and service income Rental and service income from equipment for lease Other income Total revenues Expenses Cost of sales and service Cost of equipment for lease Selling expenses Administrative expenses Management benefit expenses Impairment loss on assets Loss from dissolution of subsidiary Total expenses Income before finance cost and corporate income tax Finance cost Income before corporate income tax Corporate income tax Net income for the year

27,780,349 110,886,997 27,780,349 110,886,997 5,426,490 23,496,666 5,610,882 23,649,782 3,876,683,387 3,325,272,683 3,876,507,979 3,324,858,299 2,949,612,957 2,465,195,824 2,953,129,545 2,467,993,143 22,798,487 127,966,489 22,798,487 127,966,489 185,160,572 145,609,420 183,695,640 140,708,330 183,699,899 161,310,614 178,029,611 156,672,151 6 76,173,535 58,236,768 70,773,535 55,836,768 8, 12 27,831,010 49,393,198 27,831,010 49,393,198 10 7,999,400 3,445,276,460 3,007,712,313 3,444,257,228 2,998,570,079 431,406,927 (12,845,690) 418,561,237 (108,367,006) 310,194,231 312,206,835 (2,012,604) 310,194,231

Annual Report 2009

317,560,370 (11,222,978) 306,337,392 (97,192,673) 209,144,719

432,250,751 (12,845,690) 419,405,061 (108,367,006) 311,038,055

326,288,220 (11,222,978) 315,065,242 (97,192,673) 217,872,569

211,462,244 311,038,055 217,872,569 (2,317,525) 209,144,719

5.18

3.52

5.16

3.63

5.06

3.47

5.04

3.58

The accompanying notes are an integral part of the financial statements. 60

Separate financial statements 2009 2008

3,843,476,548 3,190,889,020 3,843,116,748 3,190,321,520

Net income (loss) attributable to Equity holders of the parent Minority interests of the subsidiaries Earnings per share Basic earnings per share Net income attributable to equity holders of the parent Diluted earnings per share Net income attributable to equity holders of the parent

Consolidated financial statements 2009 2008

Statements of changes in shareholders没 equity Advanced Information Technology Public Company Limited and its subsidiaries For the years ended 31 December 2009 and 2008 (Unit: Baht) Consolidated financial statements

Note

Balance as at 31 December 2008 Net income for the year Dividend paid Additional ordinary shares issued for warrant exercise Balance as at 31 December 2009

22 17

share capital

Premium

Retained earnings

Appropriated Unappropriated of subsidiaries

300,000,000 220,715,902 -

24,800,000 263,240,900 - 211,462,244 - (150,000,000) 9,700,000

(9,700,000)

Total

3,768,168 812,524,970 (2,317,525) 209,144,719 - (150,000,000) -

22 15

300,000,000 220,715,902

34,500,000 315,003,144

2,000,600 2,000,600 3,451,243 873,670,289

300,000,000 220,715,902 -

34,500,000 315,003,144 - 312,206,835 - (165,000,000)

3,451,243 873,670,289 (2,012,604) 310,194,231 - (165,000,000)

3,451,325 3,456,298 303,451,325 224,172,200

34,500,000 462,209,979

- 6,907,623 1,438,639 1,025,772,143

The accompanying notes are an integral part of the financial statements.

Advanced Information Technology Public Company Limited

Balance as at 31 December 2007 Net income for the year Dividend paid Unappropriated retained earnings transferred to statutory reserve Increase in minority interest - equity attributable to minority shareholders of subsidiary Balance as at 31 December 2008

Issued and fully paid-up

Minority interest equity attributable to minority shareholders

Note

Balance as at 31 December 2007 Net income for the year Dividend paid Unappropriated retained earnings transferred to statutory reserve Balance as at 31 December 2008 Balance as at 31 December 2008 Net income for the year Dividend paid Additional ordinary shares issued for warrant exercise Balance as at 31 December 2009

22 17

22 15

Issued and fully paid-up

share capital

Premium

Annual Report 2009

Appropriated Unappropriated

Total

300,000,000 220,715,902 -

24,800,000 264,135,619 809,651,521 - 217,872,569 217,872,569 - (150,000,000) (150,000,000)

300,000,000 220,715,902

9,700,000 (9,700,000) 34,500,000 322,308,188 877,524,090

300,000,000 220,715,902 -

34,500,000 322,308,188 877,524,090 - 311,038,055 311,038,055 - (165,000,000) (165,000,000)

3,451,325 3,456,298 303,451,325 224,172,200

6,907,623 34,500,000 468,346,243 1,030,469,768

The accompanying notes are an integral part of the financial statements. 62

Retained earnings

Cash flow statements Advanced Information Technology Public Company Limited and its subsidiaries For the years ended 31 December 2009 and 2008 (Unit: Baht) Separate financial statements 2009 2008

Cash flows from operating activities Net income before tax 418,561,237 306,337,392 419,405,061 Adjustments to reconcile net income before tax to net cash provided by (paid from) operating activities Depreciation and amortisation 32,238,058 102,021,471 31,842,301 Doubtful accounts 12,582,536 15,079,001 12,582,536 Impairment loss on inventories 20,831,010 - 20,831,010 Loss from dissolution of subsidiary 7,999,400 Impairment loss on equipment for lease 7,000,000 49,393,198 7,000,000 Write-off equipment 15,631 9,642 Write-off equipment for lease 409,113 Loss on sales of equipment 1,119 299,140 Gain on sales of equipment for lease (685,000) (685,000) Unrealised loss (gain) on exchange 5,715,336 (912,811) 5,715,336 Interest expenses 12,845,690 11,222,978 12,845,690 Income from operating activities before changes in operating assets and liabilities 509,105,617 483,849,482 517,545,976 Operating assets (increase) decrease Trade accounts and note receivable (272,641,835) (365,496,251) (272,641,835) Unbilled receivable 35,229,357 (20,960,772) 35,229,357 Inventories 1,223,115 (72,961,633) (7,670,503) Other current assets (156,986) 6,979,387 (495,422) Other non-current assets (3,858,000) (505,744) (3,940,800) Operating liabilities increase (decrease) Trade accounts payable 249,214,348 (33,103,735) 254,460,455 Unbilled payable 41,779,169 6,409,428 40,521,062 Other current liabilities 173,450,693 55,545,613 172,929,246 Cash flows from operating activites 733,345,478 59,755,775 735,937,536 Interest paid (12,871,312) (11,216,472) (12,871,312) Corporate income tax paid (84,024,162) (107,330,782) (83,563,517) Net cash flows from (used in) operating activities 636,450,004 (58,791,479) 639,502,707 The accompanying notes are an integral part of the financial statements.

315,065,242

101,700,080 15,079,001 49,393,198 409,113 299,140 (912,811) 11,222,978 492,255,941 (365,496,251) (20,960,772) (62,855,232) 7,990,638 (355,454) (38,503,577) 6,256,095 53,238,949 71,570,337 (11,216,472) (106,652,355) (46,298,490)

Advanced Information Technology Public Company Limited

Consolidated financial statements 2009 2008

Cash flow statements (continued) Advanced Information Technology Public Company Limited and its subsidiaries For the years ended 31 December 2009 and 2008 (Unit: Baht)

Cash flows from investing activities Decrease in restricted bank deposits Cash payment for purchase of building improvement and equipment Cash payment for purchase of equipment for lease Cash payment for purchase computer software Cash payment for investment in subsidiay Proceeds from minority shareholders of subsidiary Proceeds from sales of equipment Proceeds from sales of equipment for lease Net cash flows from (used in) investing activities Cash flows from financing activities Increase (decrease) in short-term loans from financial institutions Increase (decrease) in trust receipts Proceeds from additional ordinary shares issued for warrant exercise Repayment of financial lease payable Dividend paid Net cash flows from (used in) financing activities Net increase in cash and cash equivalents Cash and cash equivalents at beginning of year Cash and cash equivalents at end of year Supplemental cash flows information Non - cash items Transfer of inventories to be equipment Transfer of inventories to be equipment for lease Transfer of equipment for lease to be equipment

Consolidated financial statements 2009 2008

Separate financial statements 2009 2008

4,977,035

14,235,049

4,977,035

(7,474,223) (2,036,175) 27,553 685,000 (3,820,810)

(11,220,831) (2,655,071) (277,400) 2,000,600 1,887,116 3,969,463

(365,000,000) (33,883,905)

Annual Report 2009

(7,435,267) (10,885,082) - (2,655,071) (2,032,726) (237,800) - (7,999,400) 1,887,116 685,000 (3,805,958) (5,655,188)

325,000,000 (365,000,000) 325,000,000 18,961,751 (33,883,905) 18,961,751

6,907,623 6,907,623 (600,255) (600,255) (164,697,693) (149,925,649) (164,697,693) (149,925,649) (556,673,975) 193,435,847 (556,673,975) 193,435,847 75,955,219 138,613,831 79,022,774 141,482,169 168,687,006 30,073,175 164,160,925 22,678,756 244,642,225 168,687,006 243,183,699 164,160,925

The accompanying notes are an integral part of the financial statements. 64

14,235,049

506,244 3,788,743 4,500,000

Notes to consolidated financial statements Advanced Information Technology Public Company Limited and its subsidiaries For the years ended 31 December 2009 and 2008

1. Corporate information Advanced Information Technology Public Company Limited (çthe Companyé) is a public company incorporated and domiciled in Thailand. The Company is principally engaged in the sale, design, service and installation of lump sum turnkey of information and communication technology network systems and the renting of computers and electronic equipment. Its registered address is 37/2 Suthisarnvinijchai Road, Samsaennok, Huaykwang, Bangkok.

2. Basis of preparation

2.2 Basis of consolidation a) The consolidated financial statements include the financial statements of the Company (çthe Companyé) and the following subsidiary companies (çthe subsidiariesé):

Companyûs name

Nature of business

Maple Plus Co., Ltd. Sale and installation of computer, software and telecom equipment BANC Serve Sale and installation (Thailand) Co., Ltd. of computer and telecom equipment

Assets as a Revenues as a percentage percentage to the to the consolidated consolidated total Country of Percentage of total assets as at revenues for the year incorporation shareholding 31 December ended 31 December 2009 2008 2009 2008 2009 2008 Percent Percent Percent Percent Percent Percent

Thailand

0.3

0.8

0.6

0.7

Thailand

0.3

Advanced Information Technology Public Company Limited

2.1 The financial statements have been prepared in accordance with accounting standards enunciated under the Accounting Professions Act B.E. 2547 and their presentation has been made in compliance with the stipulations of the Notification of the Department of Business Development dated 30 January 2009, issued under the Accounting Act B.E. 2543. The financial statements in Thai language are the official statutory financial statements of the Company. The financial statements in English language have been translated from the Thai language financial statements. The financial statements have been prepared on a historical cost basis except where otherwise disclosed in the accounting policies.

b) c) d) e)

Subsidiaries are fully consolidated as from the date of acquisition, being the date on which the Company obtains control, and continue to be consolidated until the date when such control ceases. The financial statements of the subsidiaries are prepared for the same reporting period as the parent company, using consistent significant accounting policies. Material balances and transactions between the Company and its subsidiary companies have been eliminated from the consolidated financial statements. Minority interests represent the portion of net income or loss and net assets of the subsidiaries that are not held by the Company and are presented separately in the consolidated income statement and within equity in the consolidated balance sheet.

2.3 The separate financial statements, which present investments in subsidiaries presented under the cost method, have been prepared solely for the benefit of the public.

3. Adoption of new accounting standards In June 2009, the Federation of Accounting Professions issued Notification No. 12/2009, assigning new numbers to Thai Accounting Standards that match the corresponding International Accounting Standards. The numbers of Thai Accounting Standards as referred to in these financial statements reflect such change. The Federation of Accounting Professions has issued Notification No. 86/2008 and No. 16/2009, mandating the use of new accounting standards, financial reporting standard and accounting treatment guidance as follows. 3.1 Accounting standards, financial reporting standard and accounting treatment guidance which are effective for the current year Framework for the Preparation and Presentation of Financial Statements (revised 2007) TAS 36 (revised 2007) Impairment of Assets TFRS 5 (revised 2007) Non-current Assets Held for Sale and Discontinued Operations Accounting Treatment Guidance for Leasehold Right Accounting Treatment Guidance for Business Combination under Common Control These accounting standards, financial reporting standard and accounting treatment guidance became effective for the financial statements for fiscal years beginning on or after 1 January 2009. The management has assessed the effect of these standards and believes that TFRS 5 (revised 2007), Accounting Treatment Guidance for Leasehold Right and Accounting Treatment Guidance for Business Combination under Common Control are not relevant to the business of the Company, while Framework for Preparation and Presentation of Financial Statements (revised 2007) and TAS 36 (revised 2007) do not have any significant impact on the financial statements for the current year.

Annual Report 2009

3.2 Accounting standards which are not effective for the current year Effective date TAS 20 TAS 24 (revised 2007) TAS 40

Accounting for Government Grants and Disclosure of Government Assistance Related Party Disclosures Investment Property

1 January 2012 1 January 2011 1 January 2011

However, TAS 24 (revised 2007) and TAS 40 allow early adoption by the entity before the effective date. The management of the Company has assessed the effect of these standards and believed that TAS 20 and TAS 40 are not relevant to the business of the Company, while TAS 24 (revised 2007) will not have any significant impact on the financial statements for the year in which it is initially applied.

4. Significant accounting policies

Advanced Information Technology Public Company Limited

4.1 Revenues and expenses recognition a) Revenues Sales and service income Revenues from the sale, design, service and installation of lump sum turnkey of information and communication technology network systems are recognised on the basis of percentage of completion, as assessed by the Companyûs engineers/the project managers. Recognised revenues, that are not yet due per the contracts are presented under the caption of çUnbilled receivableé in the balance sheets. Sales of goods are recognised when the significant risks and rewards of ownership of the goods have passed to the buyer. Sales are the invoiced value, excluding value added tax, of goods supplied after deducting discounts and allowances. Service income is recognised when the services are rendered. Rental and service income Rental income and related service income are recognised over the period of rental and service. Interest income Interest income is recognised on an accrual basis based on the effective interest rate. b) Expenses Costs of contract sales, design, service and installation of lump sum turnkey of information and communication technology network systems are recognised in accordance with the percentage of work completed for which revenue has already been recognised, based on total estimated costs. Provision for anticipated losses on projects is made in the accounts in full when the possibility of loss is ascertained. Differences between the estimated costs and the actual costs are recognised as çwork in progressé under current assets or çunbilled payableé under current liabilities. Other expenses are recognised on an accrual basis.

4.2 Cash and cash equivalents Cash and cash equivalents consist of cash in hand, cash at banks, and all highly liquid investments with an original maturity of 3 months or less and not subject to withdrawal restrictions. 4.3 Trade accounts receivable Trade accounts receivable are stated at the net realisable value. Allowance for doubtful accounts is provided for the estimated losses that may be incurred in collection of receivables. The allowance is generally based on collection experiences and analysis of debt aging. 4.4 Inventories Equipment, work in progress and goods in transit are valued at the lower of cost and net realisable value. Cost of work in progress consists of cost of materials, labour, subcontract work and other relevant expenses. 4.5 Investments Investments in subsidiaries are accounted for in the separate financial statements using the cost method. Allowance for impairment loss will be made when the recoverable amounts is lower than the cost of investments. 4.6 Building improvement, equipment and equipment for lease and depreciation Building improvement, equipment and equipment for lease are stated at cost less accumulated depreciation and allowance for loss on impairment of assets (if any). Depreciation of building improvement, equipment and equipment for lease are calculated by reference to their costs on the straight-line basis over the following estimated useful lives: Building improvement

years

Furniture, fixtures and office equipment Computers Vehicles Equipment for lease

5 3, 5 5 3.5, 5

years years years years

Depreciation is included in determining income. 4.7 Intangible asset and amortisation Intangible assets are measured at cost. Following initial recognition, intangible assets are carried at cost less any accumulated amortisation and any accumulated impairment losses. Intangible assets with finite lives axre amortised on a systematic basis over the economic useful life and tested for impairment whenever there is an indication that the intangible asset may be impaired. The amortisation period and the amortisation method of such intangible asset are reviewed at least at each financial year end. The amortisation expense is charged to the income statement. A summary of the intangible assets with finite lives is as follows: Useful lives Computers software

Annual Report 2009

10 years

4.8 Related party transactions Related parties comprise enterprises and individuals that control, or are controlled by, the Company, whether directly or indirectly, or which are under common control with the Company. They also include associated companies and individuals which directly or indirectly own a voting interest in the Company that gives them significant influence over the Company, key management personnel, directors and officers with authority in the planning and direction of the Company没s operations. 4.9 Long-term leases Leases of equipment which transfer substantially all the risks and rewards of ownership are classified as finance leases. Finance leases are capitalised at the lower of the fair value of the leased assets and the present value of the minimum lease payments. The outstanding rental obligations, net of finance charges, are included in other long-term payables, while the interest element is charged to the income statements over the lease period. The equipment acquired under finance leases is depreciated in the shorter of the useful life of the asset and the lease period. 4.10 Foreign currencies Transactions in foreign currencies are translated into Baht at the exchange rate ruling at the date of the transaction. Monetary assets and liabilities denominated in foreign currencies are translated into Baht at the exchange rate ruling at the balance sheet date. Gains and losses on exchange are included in determining income.

4.12 Employee benefits Salaries, wages, bonuses and contributions to the social security fund and provident fund are recognised as expenses when incurred. The Company issued warrants to purchase the ordinary shares to directors and/or employees of the Company. The transaction will be recorded in the financial statements when the warrants are exercised.

Advanced Information Technology Public Company Limited

4.11 Impairment of assets At each reporting date, the Company performs impairment reviews in respect of the building improvement, equipment, equipment for lease and intangible assets whenever events or changes in circumstances indicate that an asset may be impaired. An impairment loss is recognised when the recoverable amount of an asset, which is the higher of the asset没s fair value less costs to sell and its value in use, is less than the carrying amount. In determining value in use, the estimated future cash flows are discounted to their present value using a pre-tax discount rate that reflects current market assessments of the time value of money and the risks specific to the asset. In determining fair value less costs to sell, an appropriate valuation model is used. These calculations are corroborated by a valuation model that, based on information available, reflects the amount that the Company could obtain from the disposal of the asset in an arm没s length transaction between knowledgeable, willing parties, after deducting the costs of disposal. An impairment loss is recognised in the income statement.

4.13 Provisions Provisions are recognised when the Company has a present obligation as a result of a past event, it is probable that an outflow of resources embodying economic benefits will be required to settle the obligation, and a reliable estimate can be made of the amount of the obligation. 4.14 Income tax Income tax is provided in the accounts based on the taxable profits determined in accordance with tax legislation. 4.15 Derivatives Forward exchange contracts Receivables and payables arising from forward exchange contracts are translated into Baht at the rates of exchange ruling at the balance sheet date. Gains and losses from the translation are included in determining income.

5. Significant accounting judgements and estimates The preparation of financial statements in conformity with generally accepted accounting principles at time requires management to make subjective judgments and estimates regarding matters that are inherently uncertain. These judgments and estimates affect reported amounts and disclosures and actual results could differ. Significant judgments and estimates are as follows: Estimation of revenues and costs of contract sales, design, service and installation of lump sum turnkey of information and communication technology network systems In recognising revenues and costs of contract sales, design, service and installation of lump sum turnkey of information and communication technology network systems, management are required to make judgement based on their best knowledge of the current events and arrangements and their experience of the business to estimate the percentage of completion and total cost of each contracts, based on information from the engineers/project managers. These estimates are revisited on a periodical basis or when the actual costs incurred significantly vary from the estimation. Leases In determining whether a lease is to be classified as an operating lease or finance lease, the management is required to use judgment regarding whether significant risks and rewards of ownership of the leased asset has been transferred, taking into consideration terms and conditions of the arrangement. Allowance for doubtful accounts In determining an allowance for doubtful accounts, the management needs to make judgment and estimates based upon, among other things, past collection history, aging profile of outstanding debts and the prevailing economic condition.

Annual Report 2009

Building improvement, equipment and equipment for lease and depreciation In determing depreciation of building improvement, equipment and equipment for lease, the management is required to make estimates of the useful lives and salvage values of the Company没s building improvement, equipment and equipment for lease and to review estimate useful lives and salvage values when there are any changes. In addition, the management is required to review building improvement, equipment and equipment for lease for impairment on a periodical basis and record impairment losses in the period when it is determined that their recoverable amount is lower than the carrying amount. This requires judgments regarding forecast of future revenues and expenses relating to the assets subject to the review. Intangible assets The initial recognition and measurement of intangible assets, and subsequent impairment testing, require management to make estimates of cash flows to be generated by the asset or the cash generating units and to choose a suitable discount rate in order to calculate the present value of those cash flows.

6. Related party transactions During the years, the Company and its subsidiaries had significant business transactions with related parties. Such transactions, which are summarised below, arose in the ordinary course of business and were concluded on commercial terms and bases agreed upon between the Company and those related parties. 71 Consolidated financial statements 2009 2008 Transactions with subsidiaries (eliminated from the consolidated financial statements) Other income Cost of sales and service Transactions with related company (related by being minority shareholder of the subsidiary) Cost of sales and service

Separate financial statements 2009 2008

Transfer Pricing Policy

0.2 22.7

0.2 21.3

Agreed upon price Agreed upon price

4.6

15.6

Agreed upon price

The balances of the accounts as at 31 December 2009 and 2008 between the Company and those related parties are as follows:

Advanced Information Technology Public Company Limited

(Unit: Million Baht)

(Unit: Million Baht) Separate financial statements 2009 2008

Consolidated financial statements 2009 2008 Trade accounts payable - related parties Subsidiary Maple Plus Co., Ltd. Related company Scale Plotting Center Co., Ltd. (related by being minority shareholder of the subsidiary) Total accounts payable - related parties

0.3

4.5 4.5

0.3

Directors and management没s remuneration

Related parties

Related transactions

Meeting allowances and directors没 remunerations Management and Salaries, bonus, commission, executive directors meeting allowances and directors没 remunerations Directors who are not members Meeting allowances and of the audit committee or directors没 remunerations management committee

Consolidated financial statements 2009 2008

(Unit: Million Baht) Separate financial statements 2009 2008

Audit committee

2.5

1.9

2.5

1.9

71.1

54.6

65.7

52.2

2.6

1.7

2.6

1.7

7. Trade accounts and notes receivable The balances of trade accounts and notes receivable as at 31 December 2009 and 2008, aged on the basis of due dates are summarised below. (Unit: Baht) Consolidated / Separate financial statements 2009 2008 Age of receivables Not yet due Past due Up to 3 months 3-6 months Over 6-12 months Over 12 months Back to back basis Total Less: Allowance for doubtful accounts Trade accounts and notes receivable - net

Annual Report 2009

321,361,065

213,696,920

570,508,543 111,168,234 26,986,681 71,768,329 9,661,377 1,111,454,229 (30,650,748) 1,080,803,481

366,021,014 163,238,904 23,555,627 23,369,552 48,930,377 838,812,394 (18,068,212) 820,744,182

Included in the above as at 31 December 2009, are post-date cheques amounting to Baht 5.9 million (2008: Baht 9.2 million). Most of the overdue trade accounts receivable balances are those receivable from government agencies and companies of which the government is a major shareholder. The Company没s management believes that payment of these balances will be received in full and that the above allowance for doubtful accounts is adequate in the current circumstance. As at 31 December 2009, the Company has transferred of collection rights for accounts receivable amounting to Baht 56.0 million (2008: Baht 69.2 million) to secure credit facilities from banks.

8. Inventories (Unit: Baht) Consolidated financial statements 2009 2008 Equipment and work in progress Goods in transit Total Less: Allowance for impairment loss on inventories Inventories - net

461,802,323 28,936,810 490,739,133 (20,831,010) 469,908,123

Separate financial statements 2009 2008

474,386,298 17,575,950 491,962,248 491,962,248

460,589,540 464,279,897 28,936,810 17,575,950 489,526,350 481,855,847 (20,831,010) 468,695,340 481,855,847

During the current year, the Company fully provided an allowance for impairment loss on inventories of a project of Baht 20.8 million since the customer postponed the project and the Company expected no usefulness from such inventories.

9. Restricted bank deposits These represent fixed deposits pledged with the banks to secure credit facilities.

10. Investments in subsidiaries Details of investments in subsidiaries as presented in separate financial statements are as follows:

Company没s name Maple Plus Co., Ltd. BANC Serve (Thailand) Co., Ltd.

Paid-up capital Shareholding percentage 2009 2008 2009 2008 (Million Baht)(Million Baht) (%) (%) 10 -

10 10

55 -

55 80

Cost 2009 (Baht) 5,499,700 5,499,700

2008 (Baht) 5,499,700 7,999,400 13,499,100

Advanced Information Technology Public Company Limited

During the current year, the subsidiary companies did not pay a dividend. During the year 2008, the Company invested in 79,994 ordinary shares of BANC Serve (Thailand) Co., Ltd., representing 80 percent of total shares of BANC Serve (Thailand) Co., Ltd., at a price of Baht 8.0 million. Subsequently, on 1 December 2009, that company没s Extraordinary Shareholders没 Meeting No.1/2552 passed a resolution approving the dissolution of the company. The company registered its dissolution on 16 December 2009 and its liquidation on 29 December 2009. The Company recorded loss from dissolution of subsidiary amounting to Baht 8.0 million in the income statement of the current year. During the year 2007, the Company invested in 109,994 ordinary shares of Maple Plus Co., Ltd., representing 55 percent of total shares of Maple Plus Co., Ltd., at a price of Baht 5.5 million.

11. Building improvement and equipment (Unit: Baht) Consolidated financial statements Furniture, fixture Building and office improvement equipment Computers Cost 31 December 2008 Additions Disposals/write-off 31 December 2009 Accumulated depreciation 31 December 2008 Depreciation for the year Depreciation on disposals/write-off 31 December 2009 Net book value 31 December 2008 31 December 2009 Depreciation for the year 2008 (all included in administrative expenses) 2009 (all included in administrative expenses)

Annual Report 2009

Vehicles

Total

6,641,450 837,595 7,479,045

11,738,579 1,439,751 (31,336) 13,146,994

65,913,426 4,578,227 (38,040) 70,453,613

6,364,958 618,650 (6,364,958) 618,650

90,658,413 7,474,223 (6,434,334) 91,698,302

4,721,020 723,053 5,444,073

8,653,660 1,154,484 (4,816) 9,803,328

51,552,427 7,472,898 (20,261) 59,005,064

6,364,954 10,842 (6,364,954) 10,842

71,292,061 9,361,277 (6,390,031) 74,263,307

1,920,430 2,034,972

3,084,919 3,343,666

14,360,999 11,448,549

4 607,808

19,366,352 17,434,995 8,115,825 9,361,277

(Unit: Baht) Consolidated financial statements Furniture, fixture Building and office improvement equipment Computers

Total

6,057,110 837,595 6,894,705

11,662,343 1,408,414 13,070,757

65,150,805 4,570,608 (23,950) 69,697,463

6,364,958 618,650 (6,364,958) 618,650

89,235,216 7,435,267 (6,388,908) 90,281,575

4,560,015 606,186 5,166,201

8,634,784 1,134,426 9,769,210

51,349,305 7,218,096 (14,312) 58,553,089

6,364,954 10,842 (6,364,954) 10,842

70,909,058 8,969,550 (6,379,266) 73,499,342

1,497,095 1,728,504

3,027,559 3,301,547

13,801,500 11,144,374

4 607,808

18,326,158 16,782,233

75 7,795,450 8,969,550

As at 31 December 2009, certain building improvement and equipment items have been fully depreciated but are still in use. The original cost of those assets amounted to approximately Baht 59.1 Million (2008: Baht 59.6 million) (The Company only: Baht 59.1 million, 2008: Baht 59.6 million).

12. Equipment for lease (Unit: Baht) Consolidated / Separate financial statements Cost 31 December 2008 Disposals 31 December 2009 Accumulated depreciation 31 December 2008 Depreciation for the year Depreciation on disposals 31 December 2009

519,744,906 (110,255,582) 409,489,324 393,991,978 22,566,172 (98,497,305) 318,060,845

Advanced Information Technology Public Company Limited

Cost 31 December 2008 Additions Write-off 31 December 2009 Accumulated depreciation 31 December 2008 Depreciation for the year Depreciation on write-off 31 December 2009 Net book value 31 December 2008 31 December 2009 Depreciation for the year 2008 (all included in administrative expenses) 2009 (all included in administrative expenses)

Vehicles

Consolidated / Separate financial statements Allowance for impairment loss 31 December 2008 Increase during the year Allowance for impairment loss on disposals 31 December 2009 Net book value 31 December 2008 31 December 2009 Depreciation for the year 2008 (all included in cost of equipment for lease) 2009 (all included in cost of equipment for lease)

89,393,198 7,000,000 (11,758,277) 84,634,921 36,359,730 6,793,558 93,739,193 22,566,172

During the current year, the Company没s management decided to recognise impairment loss of Baht 7.0 million (2008: Baht 49.4 million) for equipment for lease, since they believe that due to technology changes and the net recoverable value of the equipment is less than its net book value.

13. Intangible assets Details of intangible assets which are computer software are as follows: (Unit: Baht)

Cost Accumulated amortisation Net book value Amortisation expenses included in the income statements for the year

Consolidated financial statements 2009 2008

Separate financial statements 2009 2008

3,881,349 (509,856) 3,371,493

1,845,174 (199,247) 1,645,927

3,838,300 (504,810) 3,333,490

1,805,574 (198,231) 1,607,343

310,609

166,453

306,579

165,437

14. Short-term loans from financial institutions Interest rate (percent per annum) Short-term loans from financial institutions

4.1 - 4.6

(Unit: Baht) Consolidated / Separate financial statements 2009 2008 - 365,000,000

Short-term loans from financial institutions are promissory notes, repayable within 3 months and unsecured. 76

Annual Report 2009

15. Share capital Presented below is a summary of movements in share capital during the year ended 31 December 2009.

Outstanding as at 31 December 2008 Increase from warrant exercise in August 2009 Increase from warrant exercise in September 2009 Outstanding as at 31 December 2009

Issued and fully paid-up share capital (Baht)

Share premium (Baht)

300,000,000 3,447,500 3,825 303,451,325

220,715,902 3,447,500 8,798 224,172,200

Date of registration of additional shares arising from exercise of warrants with the Ministry of Commerce

4 September 2009 8 October 2009

16. Warrants The Annual General Meeting of the Company没s shareholders held on 20 April 2007, passed a resolution to issue and offer warrants free of charge as follows:

Exercise price per 1 ordinary shares (Baht) Exercise ratio (warrants to ordinary shares)

1 October 2007 6,000,000 5 28 December 2007 30 September 2012 16.50 1:1

1 October 2007 3,000,000 5 31 August 2009 30 September 2012 10.00 1:1

Presented below is a summary of movement of warrants: (Unit)

Number of warrants issued Exercised during the year 2007 Exercised during the year 2008 Balance as at 31 December 2008 Exercised during the year 2009 Expired during the year 2009 Balance as at 31 December 2009

Warrants issued to existing shareholders

Warrants issued to the Company没s directors and / or employees (ESOP)

5,999,972 5,999,972 (765) 5,999,207

3,000,000 3,000,000 (689,500) (180,000) 2,130,500

Advanced Information Technology Public Company Limited

Issued date Number of warrants granted (unit) Life of warrants (year) Exercisable

Warrants issued to existing shareholders

Warrants issued to the Company没s directors and / or employees (ESOP)

17. Statutory reserve Pursuant to Section 116 of the Public Limited Companies Act B.E. 2535, the Company is required to set aside to a statutory reserve at least 5 percent of its net income after deducting accumulated deficit brought forward (if any), until the reserve reaches 10 percent of the registered capital. The statutory reserve is not available for dividend distribution. At present, the Company had fully appropriated statutory reserve.

18. Expenses by nature Significant expenses by nature are as follows: (Unit: Baht) Consolidated financial statements 2009 2008 Purchase inventories Changes in inventories Salary, bonus, commission and other employee benefits Repair and maintenance expense Depreciation and amortisation Impairment loss on inventories Impairment loss on equipment for lease

Separate financial statements 2009 2008

2,082,550,320 1,852,771,110 2,076,087,184 1,824,333,340 54,363,145 (72,961,633) 44,211,419 (62,855,232) 429,536,815 61,719,538 32,238,058 20,831,010 7,000,000

345,999,191 417,448,641 335,280,170 75,447,778 61,719,433 75,447,008 102,021,471 31,842,301 101,700,080 - 20,831,010 49,393,198 7,000,000 49,393,198

19. Earnings per share Basic earnings per share is calculated by dividing net income for the year by the weighted average number of ordinary shares in issue during the year. Diluted earnings per share is calculated by dividing net income for the year by the weighted average number of ordinary shares in issue during the year plus the weighted average number of ordinary shares which would need to be issued to convert all dilutive potential ordinary shares into ordinary shares. The calculation assumes that the conversion took place either at the beginning of the year or on the date the potential ordinary shares were issued. Calculation of basic earnings per share and diluted earnings per share is presented below:

Annual Report 2009

Consolidated financial statements Weighted average number Earnings Net income of ordinary shares per share 2009 2008 2009 2008 2009 2008 (Thousand (Thousand (Thousand (Thousand (Baht) (Baht) Baht) Baht) shares) shares)

312,207

211,462

60,244

60,000

1,150 325

928 -

312,207

211,462

61,719

60,928

5.18

3.52

5.06

3.47

Separate financial statements Weighted average number Earnings Net income of ordinary shares per share 2009 2008 2009 2008 2009 2008 (Thousand (Thousand (Thousand (Thousand (Baht) (Baht) Baht) Baht) shares) shares) Basic earnings per share Net income attributable to equity holders of the parent Effect of dilutive potential ordinary shares ESOP Warrants issued to existing shareholders Diluted earnings per share Net income of ordinary shareholders assuming the conversion of warrants to ordinary shares

311,038

217,873

60,244

60,000

1,150 325

928 -

311,038

217,873

61,719

60,928

5.16

3.63

5.04

3.58

Advanced Information Technology Public Company Limited

Basic earnings per share Net income attributable to equity holders of the parent Effect of dilutive potential ordinary shares ESOP Warrants issued to existing shareholders Diluted earnings per share Net income of ordinary shareholders assuming the conversion of warrants to ordinary shares

20. Segment information The Company and its subsidiaries没 business operations involve 2 principal segments: (1) sales and service and (2) rental of computers and electronic equipment. These operations are mainly carried on in Thailand. Below is the financial information for the years ended 31 December 2009 and 2008 of the Company and its subsidiaries by segment. (Unit: Million Baht) Sales and service segment 2009 2008 Revenues from external customers Inter-segment revenues Total revenues Segment income (loss) Unallocated income and expenses Other income Selling expenses Administrative expenses Management benefit expenses Finance cost Corporate income tax Minority interest Net income

3,843 23 3,866 873

3,191 21 3,212 726

Renting segment 2009 2008 28 28 (2)

Sales and service segment 2009 2008 Trade accounts and note receivable - net Unbilled receivable Inventories - net Equipment for lease - net Unallocated assets Total assets

1,079 29 470 -

Elimination of inter-segment Consolidated transactions financial statements 2009 2008 2009 2008

792 43 492 -

111 111 (67)

(23) (23)

(21) (21) 871

Renting segment 2009 2008 2 4 7

29 25 36

3,871 3,871 659

3,302 3,302

5 (185) (184) (76) (13) (108) 2 312

23 (146) (161) (58) (11) (97) 2 211

(Unit: Million Baht) Consolidated financial statements 2009 2008 1,081 33 470 7 353 1,944

Transfer prices between business segments are as set out in Note 6 to the financial statements.

Annual Report 2009

821 68 492 36 279 1,696

21. Provident fund The Company and its employees have jointly established a provident fund in accordance with the Provident Fund Act B.E. 2530. Both employees and the Company contributed to the fund monthly at the rate of 5 - 15 percent of basic salary. The fund, which is managed by MFC Asset Management Public Company Limited and ING Funds (Thailand) Company Limited, will be paid to employees upon termination in accordance with the fund rules. During the year 2009, the Company contributed Baht 16.5 million (2008: Baht 15.3 million) to the fund.

22. Dividends

Final dividends in respect of the year 2007 income Interim dividends in respect of the net income of the six-month period ended 30 June 2008 Final dividends in respect of the year 2008 income Interim dividends in respect of the net income of the six-month period ended 30 June 2009

Approved by The 2008 Annual General Meeting of the Company没s shareholders held on 25 April 2008 The meeting of the Company没s Board of Directors held on 14 August 2008 The 2009 Annual General Meeting of the Company没s shareholders held on 24 April 2009 The Meeting of the Company没s Board of Directors held on 11 August 2009

Dividend per share (Baht)

1.25

75 150

1.25 2.50

1.50

75 165

1.25 2.75

23. Commitments and contingent liabilities 23.1 Operating lease commitments The Company and its subsidiary have entered into several lease agreements in respect of leases of buildings and motor vehicles. The terms of the agreements are generally between 1 and 4 years. As at 31 December 2009, future minimum lease payments required under these leases contracts were as follows:

Advanced Information Technology Public Company Limited

Dividends

Total dividends (Million Baht)

(Unit: Million Baht) Consolidated financial statements Separate financial statements Lease of Lease of motor Lease of Lease of motor buildings vehicles buildings vehicles Payable within Less than 1 year 1 to 3 years

7.3 9.2

4.1 6.1

7.3 9.2

3.9 5.9

23.2 Obligations relating to undelivered and unrendered contracts 1. The Company and its subsidiary have undelivered and unrendered contracts of selling goods and rendering services to their customers of approximately Baht 1,696 million (2008: Baht 923 million) (The Company only: Baht 1,690 million, 2008: Baht 904 million). 2. The Company has engaged in various contracts, totaling contract value of future service rendering of Baht 20 million (2008: Baht 55 million), to lease the electronic equipment to companies of which the government is a major shareholder, government agencies and various schools. The company has obliged to complete the equipment installation and render maintenance services of these equipment in accordance with conditions stipulated in the contracts. 3. The Company has executed a memorandum with a company to arrange, and install voice mail system equipment and software to that company to render the services to subscriber for a period as from 1 August 2006 to 30 November 2011. The Company will obtain service charges as a percentage of that companyûs revenue. The Company is, therefore, obliged to complete the equipment installation, render maintenance services of the equipment, pay network connection cost on a monthly basis and abide by others conditions stipulated in the contract. The Company will also transfer ownership of these equipment to such company on the contractûs expiration date. 23.3 Guarantees As at 31 December 2009, there were outstanding bank guarantees of approximately Baht 842.0 million (2008: Baht 477.3 million) which have been issued by banks on behalf of the Company, consortium between the Company and its subsidiary and its contracted counter parties, guaranteed by the Company, in respect of certain performance bonds as required in the ordinary course of its businesses. These included letters of guarantee amounting to Baht 840.1 million to guarantee contractual performance and Baht 1.9 million to guarantee payments due to creditors.

24. Financial instruments 24.1 Financial risk management The Companyûs financial instruments, as defined under Thai Accounting Standard No. 32 çFinancial Instruments: Disclosure and Presentationsé, principally comprise cash and cash equivalents, trade accounts and note receivable, bank deposits, short-term loans, trust receipt, trade accounts payable and advance receipts from customers. The financial risks associated with these financial instruments and how they are managed is described below. 82

Annual Report 2009

Credit risk The Company is exposed to credit risk primarily with respect to trade accounts and notes receivable. However, due to a prudent credit policy and most customers are government agencies, companies in which the government is a major shareholder, the company does not expect to incur material financial losses. The maximum exposure to credit risk is limited to the carrying amounts of accounts and note receivable as stated in the balance sheets. Interest rate risk The Company没s exposure to interest rate risk relates primarily to its cash at banks, short-term loans and trust receipt. However, since most of the Company没s financial assets and liabilities bear floating interest rates or fixed interest rates which are close to the market rate, the interest rate risk is expected to be minimal. Significant financial assets and liabilities as at 31 December 2009 classified by type of interest rates are summarised in the table below, with those financial assets and liabilities that carry fixed interest rates further classified based on the maturity date, or the repricing date if this occurs before the maturity date.

Financial Assets Cash and cash equivalents Trade accounts and notes receivable Restricted bank deposits Financial liabilities Trade accounts payable Advance receipts from customers

73 73

245 245

1,081 1,081

474 132 606

Total

Interest rate (% p.a.)

245 0.125 - 0.65 1,081 73 0.5 - 1.75 1,399 474 132 606

Advanced Information Technology Public Company Limited

Consolidated financial statements Fixed interest rate due within Floating Non-interest 1 year interest rate bearing (Million Baht)

Separate financial statements Fixed interest rate due within Floating Non-interest 1 year interest rate bearing (Million Baht) Financial Assets Cash and cash equivalents Trade accounts and notes receivable Restricted bank deposits Financial liabilities Trade accounts payable Advance receipts from customers

73 73

243 243

1,081 1,081

474 132 606

Total

Interest rate (% p.a.)

243 0.125 - 0.65 1,081 73 0.5 - 1.75 1,397 474 132 606

Foreign currency risk The Company exposures to foreign currency risk arises mainly from purchasing inventories that are denominated in foreign currencies. The Company seeks to reduce this risk by entering into forward exchange contracts when it considers appropriate. Generally, the forward contracts mature within one year. As at 31 December 2009, the Company had outstanding balance of trade accounts payable denominated in foreign currency of USD 10.6 million and had certain forward exchange contracts which had been made to cover the purchase of inventories totaling USD 9.7 million, at exchange rates ranging between Baht 33.22 to Baht 34.80 per USD. 24.2 Fair values of financial instruments Since the majority of the Company没s financial assets and liabilities are short-term in nature and loans bear floating interest rates, their fair value is not expected to be materially different from the amounts presented in the balance sheets. A fair value is the amount for which an asset can be exchanged or a liability settled between knowledgeable, willing parties in an arm没s length transaction. The fair value is determined by reference to the market price of the financial instrument or by using an appropriate valuation technique, depending on the nature of the instrument.

Annual Report 2009

25. Capital management The primary objectives of the Companyûs capital management is to ensure that it has an appropriate financing structure and preserves the ability to continue its business as a going concern. According to the balance sheet as at 31 December 2009, the Groupûs debt-to-equity ration was 0.9:1 (2008: 0.9:1) and the Companyûs was 0.9:1 (2008: 0.9:1).

26. Subsequent events On 23 February 2010, the meeting No. 1/2553 of the Companyûs Board of Directors passed a resolution approving the distribution of a dividend for 2009 of Baht 2.25 per share to the Companyûs shareholders, to be appropriated from earnings from 2009 operations. A proposal to distribute such dividend will be presented for approval in the forthcoming Annual General Meeting of the shareholders.

27. Approval of financial statements These financial statements were authorised for issue by the Companyûs Board of Directors on 23 February 2010.

Advanced Information Technology Public Company Limited

Financial Status and Operating Performance for the Past 3 years 1. The Auditor Name of auditors in 2007-2009 Accounting Period

CPA

Registration Number

1 Audited financial statements for 2007 (Ended 31 December 2007) 2 Audited financial statements for 2008 (Ended 31 December 2008) 3 Audited financial statements for 2009 (Ended 31 December 2009)

Ms. Thipawan Nananuwat

3459

Ms. Thipawan Nananuwat

3459

Ms. Thipawan Nananuwat

3459

Accounting Office

Ernst & Young Office Company Limited Ernst & Young Office Company Limited Ernst & Young Office Company Limited

Summary of the Auditor没s report of Auditor financial statement for 2007 (ended December 2007) The Auditor states that the financial position of Advanced Information Technology Public Company Limited and its subsidiary as at 31 December 2007, the results of their operation, and cash flows for the year then ended, as well as the financial position of the Advanced Information Technology Public Company Limited as at 31 December 2007 and 2006 the results of its operations and cash flows for the years then ended, In accordance with generally accepted accounting principles.

Summary of the Auditor没s report of Auditor financial statement for 2008 (ended December 2008) The Auditor states that the financial position of Advanced Information Technology Public Company Limited and its subsidiary and of Advanced Information Technology Public Company Limited as at 31 December 2008 and 2007, and the results of their operation, and cash flows for the year then ended in accordance with generally accepted accounting principles.

Summary of the Auditor没s report of Auditor financial statement for 2009 (ended December 2009) The Auditor states that the financial position of Advanced Information Technology Public Company Limited and its subsidiary and of Advanced Information Technology Public Company Limited as at 31 December 2009 and 2008, and the results of their operation, and cash flows for the year then ended in accordance with generally accepted accounting principles.

Annual Report 2009

2. Summary of the Financial Statements

Thousand Baht

Assets Cash and cash equivalent Trade account and note receivables - net Unbilled receivables Inventories - net Other current assets Total current assets Collateral fixed deposits Investment in subsidiaries Buildings and equipments - net Equipments for rent - net Intangible assets - net Other non-current assets Total non-current assets Total assets Liabilities and shareholdersû equity Short-term loan from financial institutions Trust receipts payables Trade account payables Accrued cost payables Liabilities and shareholdersû equity (Conût) Financial lease payables - due within 1 Year Other current liabilities Total current liabilities Total liabilities Shareholdersû equity Issued and fully paid-up share capital Share premium Appropriated statutory reserve Unappropriated retained earnings Total companyûs shareholdersû equity Minority interests of subsidiaries Total shareholdersû equity Total liabilities and shareholdersû equity

Thousand Baht

2007

Thousand Baht

9.7 22,679 48.5 470,327 4.0 46,906 28.5 423,295 0.3 12,446 91.0 975,653 4.6 92,483 0.8 5,500 1.1 12,417 2.1 177,957 0.1 1,535 0.3 3,880 9.0 293,772 100.0 1,269,425

243,184 1,080,803 32,637 468,695 5,083 1,830,402 73,271 5,500 16,782 6,794 3,333 8,176 113,856 1,944,258

12.5 55.5 1.7 24.1 0.3 94.1 3.8 0.3 0.9 0.3 0.2 0.4 5.9 100.0

164,161 820,744 67,866 481,856 4,587 1,539,214 78,248 13,499 18,326 36,360 1,608 4,235 152,276 1,691,490

1.8 37.0 3.7 33.3 1.0 76.8 7.4 0.4 1.0 14.0 0.1 0.3 23.2 100.0

471,996 131,936

24.3 6.8

365,000 33,884 217,794 91,415

21.5 2.0 12.9 5.4

40,000 14,922 257,079 85,159

3.2 1.2 20.2 6.7

309,857 913,789 913,789

15.9 47.0 47.0

105,873 813,966 813,966

6.3 48.1 48.1

600 62,013 459,773 459,773

4.9 36.2 36.2

303,451 224,172 34,500 468,346 1,030,469 1,030,469 1,944,258

15.6 11.5 1.8 24.1 53.0 53.0 100.0

300,000 220,716 34,500 322,308 877,524 877,524 1,691,490

17.8 300,000 13.0 220,716 2.0 24,800 19.1 264,136 51.9 809,652 51.9 809,652 100.0 1,269,425

23.6 17.4 1.9 20.9 63.8 63.8 100.0

Advanced Information Technology Public Company Limited

Balance Sheet

The Separated Financial Statements 2009 2008

Income Statements

The Separated Financial Statements 2008 2007 % Thousand Baht % Thousand Baht

3,843,117 27,780

99.1 0.7

3,190,322 110,887

95.9 3.4

1,396,499 241,643

84.8 14.7

5,611 3,876,508 2,953,130 22,798 432,500 27,831 7,999 3,444,258 432,250

0.2 100.0 76.2 0.6 11.1 0.7 0.2 88.8 11.2

23,650 3,324,859 2,467,993 127,966 353,218 49,393 2,998,570 326,289

0.7 100.0 74.2 3.9 10.6 1.5 90.2 9.8

8,454 1,646,596 1,063,399 149,790 228,922 40,000 1,482,111 164,485

0.5 100.0 64.6 9.1 13.9 2.4 90.0 10.0

(12,845) (108,367) 311,038

0.4 2.8 8.0

(11,223) (97,193) 217,873

0.3 2.9 6.6

(7,801) (61,875) 94,809

0.4 3.8 5.8

2009 Thousand Baht

Sales and services income Rental and service income from equipment for lease Other income Total revenues Costs of sales and services Costs of equipment for lease Sales and administrative expenses Impairment loss on assets Loss from dissolution of subsidiary Total expenses Income before finance cost and corporate income Tax Finance cost Corporate income tax Net income for the year Cash flows statements Cash flows from operating activities Cash flows from investing activities Cash flows from financing activities Net increase (decrease) in cash and cash equivalents Cash and cash equivalents at beginning of year Cash and cash equivalents at end of year

Annual Report 2009

639,503 (3,806) (556,674) 79,023

(46,298) (5,655) 193,435 141,482

271,250 10,145 (316,330) (34,935)

164,161 243,184

22,679 164,161

57,614 22,679

Liquidity ratio Liquidity ratio (times) Quick ratio (times) Cash ratio (times) Trade account receivables turnover ratio (times) Average days sale outstanding (days) Inventory turnover ratio (times) Average days sale period (days) Account Payables turnover ratio (times) Average days payable outstanding (days) Cash cycle (days) Profitability ratio Gross profit margin - sales and services (%) Gross profit margin - Rental and service from equipment for lease Operating profit margin ratio (%) Cash to profit ratio (%) Net profit margin (%) Return on equity (%) Efficiency ratio Return on assets (%) Return on fixed assets (%) Asset turnover ratio (times) Financial policy ratio Debt to equity ratio (times)

Interest coverage ratio (times) Debt service coverage ratio (cash basis) (times) Dividend payout ratio (%)

The Separated Financial Statements 2009 2008 2007 2.00 1.48 0.74 3.87 93 6.26 57 8.63 42 109

1.89 1.29 (0.07) 4.70 77 5.74 63 10.39 33 107

2.12 1.17 0.43 2.70 134 3.22 112 4.84 74 172

23.16% 17.93% 11.02% 149.89% 8.02% 32.60%

22.64% (15.40%) 9.17% (15.27%) 6.55% 25.83%

23.85% 38.01% 9.52% 173.84% 5.76% 12.04%

17.11% 876.24% 2.13

14.72% 260.81% 2.25

6.65% 85.78% 1.16

0.89

0.93

0.57

59.22 1.19 68.02%

5.54 (0.27) 75.73%

43.70 0.82 79.11%

Advanced Information Technology Public Company Limited

Financial Ratios

3. Managementûs Discussion and Analysis of the Financial Status and Operating Performance 3.1 Overview of the Past Performance

During 2007-2009, the impact of global financial crisis on Thai Economy was substantial whereas on the Company was relatively insignificant given the fact that majority of its revenues are from state-owned enterprises and governments. As a result of the stimulus measures adopted by various government entities, the Companyûs revenues were still able to generate an ongoing revenues even times of economic crisis. Since there are minimal differences in the consolidated financial statements and the Companyûs financial statements after combining the operating results of its two subsidiaries, the analysis of the financial statements and operating performance will be conducted on the Separated financial statements only. In 2009, the Company had total revenues of 3,876.5 million Baht, increasing 551.6 million Baht or 16.6% from 2008 owning to its successful bidding results with larger projects size and higher number of awarded projects. In 2008, the Company reported 3,324.9 million Baht of total revenues, increasing 1,678.3 million Baht or 101.9% from 2007 primarily due to an increase in investment undertaken by both government and state enterprises thereby enabling it to win more large-scale projects. The cost structure and gross profit margin of project sales and services in 2009 was 23.2%, a slight increase of 2.7% from 2008. 2008ûs gross profit margin of project sales and services was 22.6%, a decrease of 5.4% from 2007 as there were a number of mega projects having hardware as their main component, which carried low gross profit margin. The adjustment of project cost upwards also contributed to a lower gross profit margin in 2008, even lower than that of 2007 as there were several maintenance projects in 2007. The gross profit margin of equipment rental services in 2009 was 17.9%, a surge up from negative gross profit margin in 2008 due to a much lower than expected rental fee on the renewal contracts. Moreover, there were depreciations of equipments for rent as well as maintenance costs, which, unlike the reduction of rental fee, had increased in tandem with the operating conditions of aging equipments. As a result, the Company posted a gross loss from its equipment rental business in 2008. In terms of gross profit margins, 2009ûs and 2007ûs were higher 2008ûs. In 2009, the Company booked 432.5 million Baht of selling and administrative expenses, an increase of 22.5% or 79.3 million Baht from that of 2008 given higher expenses incurred for employees and clients, including sales commission and entertainment. In 2008, the Company incurred 353.2 million Baht of selling and administrative expenses, an increase of 54.3% or 124.3 million Baht from that of 2007 for the same reasons given for such increase in 2009 i.e. employees and entertainment expenses. The Companyûs net profit margin had increased to 8.0% in 2009 compared to 6.6% in 2008 as it booked more revenues from more projects including tax structure, which has more deductible items for add-back items resulting from a temporary difference between accounting and tax. Moreover, given a lower reserve amount that was set aside for loss from the impairment of assets, net profit margin for 2009 was higher compared to 2008. The Companyûs 2008 net profit margin was 6.6%, an increase of about 13.8% from 2007 given less revenues from projects in 2007 compared to 2008.

Annual Report 2009

Past Performance in each Business 1.

Revenues from Sales and Services Business Major source of the Company没s revenues is from sales and service business, which accounted for 99.1%, 95.9% and 84.8% of total revenues in 2009, 2008 and 2007, respectively. By nature, such revenues come from sale and installation of computer and telecommunication equipments, including repair and maintenance services. Throughout the period from 2007 to 2009, revenues from sales and services has constantly increased given the growth in the telecommunication technology, particularly with respect to network providers. As for 2009, the Company reported 3,843 million Baht of revenues, an increase of 653 million Baht or 20.5% compared to 3,190 million Baht in 2008, as there were more projects worth more than 100 million Baht in 2009 than in 2008 and 2007. Mega projects in 2009 included Broadband IP, IP Core 970, Remote Fiber Test System (RFTS), Cisco 192, IP Network Adjustment and etc. Most projects were from key customers namely TOT Plc., CAT Telecom Plc. and large corporates. In 2008, the Company没s revenues increased from 1,396 million Baht to 3,190 million Baht in 2008, an increase of 1,794 million Baht or 128.5% due to its ability to win the bids for large-size projects form both non-core and core customers such as Backup ICC, Gin Phase 2, TOT-GIS 2007, Inter Connection 2008 of TOT Plc., New Core Router of CAT Telecom Plc. and etc.

Advanced Information Technology Public Company Limited

Trade account receivables in 2009 (inclusive of unbilled receivables) had increased from 2008 for the amount of 224.8 million Baht due to an increase in both revenues and trade account receivables. However, trade account receivables in 2008 had increased from 2007 for the amount of 371.4 million Baht due to the same reasons as in mentioned for 2009. Inventory in 2009 was 468.7 million Baht, a decrease of 13.2 million Baht compared to 2008. Such decrease was partly due to the reserve for the impairment of 20.8 million Baht inventory for non-progress projects, in which the Company expected to receive less than the amount invested. Inventory in 2008 was 481.9 million Baht, an increase of 58.6 million Baht compared to 2007 as the Company won more projects in 2008 than 2007 thus causing higher work in progress. The value of net equipments for rent has gradually decreased since 2007 to present due to the depreciation of the installed and ready-to-use outsourcing equipments. Besides, the decrease in the value of net equipments for rent in 2009, 2008 and 2007 was resulted from the reserve for loss from the impairment of assets, which was set aside for the amount of 7 million Baht, 49.4 million Baht and 40.0 million Baht, respectively. In 2009, there was no addition investment on equipment for rent. In 2009, the Company no longer reported the outstanding amount of overdraft and short-term loan from financial institution as it received payments from large trade receivables. Other current liabilities included trade account payables, accrued cost payables, corporate income tax, advanced payment from customers, accrued expenses and other items. The increase in other current liabilities was due to various reasons e.g. extension of credit term granted by major creditor, delivery of projects during year-end causing higher accrued expenses, as a result of higher profit which was in line with an increase in revenues causing higher tax payment, winning the bid for a mega project during year-end resulting in higher advanced payment and given good performance of large projects resulting in an unpaid commission that had to be recorded as accrued expenses.

Table Comparing Revenues from Sales and Services Total Project Value (million Baht) > 100 million Baht 50 - 100 million Baht 20 - 50 million Baht 10 - 20 million Baht < 10 million Baht Total Project Value (million Baht) No. of Projects (Projects)

Number of Projects (Projects) 2009 2008 2007 5 7 20 28 428 3,843 488

4 7 24 20 425 3,190 480

2 2 17 12 224 1,396 257

Revenues from Equipments for Rent Business Revenue from equipment rental business, which was considered as the Company没s secondary source of revenue, accounted for 0.7%, 3.4% and 14.7% of total revenues in 2009, 2008 and 2007, respectively. However, this part of revenue has continued to decrease since 2007, details as shown in the Table Showing Summary of Financial Statements in the Income Statement Section on Page 84. Main reason for such decrease was due to the fact that a number of contracts were already expired whereas the remaining projects have low contract value.

Other Revenues Other revenues mainly consisted of the followings: 1) Interest received from collateral fixed deposits for various successfully bid projects. The interest income for 2009, 2008, and 2007 was 1.2, 2.4 and 4.9 million Baht, respectively. Such decrease was primarily due to the decrease of interest rate and the amount of collateral fixed deposits outstanding. 2) Other revenue mainly is the revenue from sales promotions given by the distributors both locally and abroad. The increase or decrease in this part of revenue varies according to purchase volume and conditions of the distributors in each sales promotion.

Costs of Sales and Services and Costs of Equipments for Rent The Company没s costs can be classified into cost of sales and services and cost of equipments for rent. Costs of sales and services arise from computer hardware, telecommunication and communication technology network system and repair and maintenance of equipment service. The cost of equipments for rent arises from outsourcing of computers. Costs and Gross Profit Margin of Sales and Services Business Costs of sales and services are considered as a major part of the total costs, which accounted for 76.2%, 74.2% and 64.6% of total revenues in 2009, 2008 and 2007, respectively. Costs of sales and

Annual Report 2009

services varied according to sale volumes generated in each year. As for 2009, 2008 and 2007, costs of sales and services equaled to 2,953.1, 2,468.0 and 1,063.4 million Baht, respectively. Gross profit margin of sales and services business was reported at 23.2%, 22.6% and 23.9% for 2009, 2008 and 2007, respectively. 2009没s gross profit margin increased 2.7% compared to 2008 whereas 2008没s gross profit margin decreased 5.4% compared to 2007 as most of the large-scale projects in 2008 had incurred higher costs from hardware equipments. in which gross profit margin from sales is lower than that of services. As for 2007, the Company was able to realize revenue from higher numbers of repair and maintenance projects. Table Showing Costs, Gross Profit and Gross Profit Margin of Sales and Services Business

Costs (million Baht) Gross Profit (million Baht) Gross Profit Margin (%)

2009 2953.1 900.0 23.2

2008 2,468.0 722.3 22.6

2007 1,063.4 333.1 23.9

Costs and Gross Profit Margin of Equipments for Rent Business The costs of equipments for rent accounted for 0.6%, 3.9% and 9.1% of total revenues in 2009, 2008 and 2007, respectively. The costs of equipments for rent, which normally comprise of the depreciation, repair and maintenance, were recorded at 22.8, 128.0, and 149.8 million Baht in 2009, 2008 and 2007, respectively. As evidenced, the costs associated with the outsourcing equipments have continued to decrease in line with the reduction in rental income - for 2009 there was a decrease of 105.2 million Baht compared to 2008 and for 2008 there was a decrease of 21.8 million Baht compared to 2007. Such decrease was resulting from the same reason of not recording the depreciation expenses for most of the equipments for rent since loss from the impairment of assets was instead recorded in the financial statements in each year and the fact that the depreciation expenses that continue to decrease according to the remaining usage life of the equipments, most of which were already matured, and the maintenance costs that decrease according to the remaining numbers of outsourcing equipments. Gross profit margin of equipments for rent business was reported at 17.9%, (15.4)% and 38.0% for 2009, 2008 and 2007, respectively. Evidently, it improved in 2009 compared to 2008, which yielded a negative margin due to a much lower than expected rental income on the renewal contracts meanwhile the depreciation, repair and maintenance expenses were increasing in conjunction with the condition of the equipments, particularly the ones with long usage life, thereby causing loss profit margin of equipments for rent business in 2008. Table Showing Costs, Gross Profit and Gross Profit Margin of Equipments for Rent Business Equipment Rental Services Costs (million Baht) Gross Profit (million Baht) Gross Profit Margin (%)

2009 22.8 5.0 17.9

2008 128.0 (17.1) (15.4)

2007 149.8 91.9 38.0

Advanced Information Technology Public Company Limited

Sales and Services Business

Selling and Administrative Expenses Selling and administrative expenses will vary in accordance with the revenue. Considering the amount of such expenses i.e. 432.5, 353.2 and 228.9 million Baht in 2009, 2008 and 2007, respectively, it was evident that there was an increase from 2009 of 79.3 million Baht or 22.5% compared to 2008. This was primarily resulting from an increase in employeeûs related expenses such as salary, variable performance bonus, sales commission, entertainment, coordination and selling expenses. In 2008, selling and administrative expenses increased 124.3 million Baht or 54.3% from those of 2007 for the same reasons as regards to an increase in employeeûs related expenses that increase in accordance with the increase in sales volume. Besides, in 2008, the Company had set aside additional reserve for doubtful accounts thereby causing higher selling and administrative expenses. Net Profit and Net Profit Margin The Company generated 311.0, 217.9 and 94.8 million Baht of net profit and 8.0%, 6.6% and 5.8% of net profit margin in 2009, 2008 and 2007, respectively. In 2009, net profit margin for the year excluding loss from the impairment of assets was at 8.7%, increasing 8.8% from that of 2008 which was at 8.0% given higher sales volume and slight increase in gross profit margin. Meanwhile, net profit for 2008 increased 123.1 million Baht compared to that of 2007. Excluding loss from the impairment of equipments for rent, which was recorded for the amount of 49.4 million Baht in 2008 and 40 million Baht in 2007, the Companyûs net profit margin during the past 2 years would nearly equal at approximately 8%. Net Profit and Net Profit Margin 2009

Net Profit (million Baht) Net Profit Margin (%)

311.0 8.0

2008 217.9 6.6

2007 94.8 5.8

Return on Equity Based on the past performance, the Company has continued to pay dividend to shareholders. As for 2009 and 2008, the Company also paid interim dividends given its solid performance. During the past 3 years, the history of the Companyûs dividend payments is as follows: 2009***

Basic Earnings Per Share (Baht) Dividend (Baht per Share) Dividend Payout Ratio No. of Shares (Million Shares)*

5.16 3.50 68.02% 60.70

2008** 3.63 2.75 75.73% 60.00

2007 1.58 1.25 79.11% 60.00

Remarks: * The par value is at 5 Baht per share ** At the meeting of the Board of Directors held on 14 August 2008, it was resolved for an interim dividend payment of 1.25 Baht per share. Later, the Board of Directorsûs meeting on 23 February 2009 passed a resolution that a dividend of 1.50 Baht per share in respect of the year 2008ûs net income. The Company had approved such dividend payment at the 2008 Annual General Meeting of the Companyûs shareholders held on 24 April 2009.

Annual Report 2009

***

At the meeting of the Board of Directors held on 11 August 2009, it was resolved for an interim dividend payment of 1.25 Baht per share. Later, the Board of Directors没s meeting on 23 February 2010 passed a resolution that a dividend of 2.25 Baht per share in respect of the year 2009没s net income. The Company will propose such dividend payment at the Annual General Meeting of the Company没s shareholders for further approval.

3.2 Financial Status Assets Total assets in 2009 equaled to 1,944.3 million baht, an increase of 14.9% or 252.8 million Baht from 1,691.5 million Baht in 2008. Such increase was primarily due to an increase during year-end in cash and cash equivalent from large account receivable payment and trade account receivables given an increase in sales volume. Nonetheless, some current assets had decreased such as unbilled receivables and inventory, which also decreased due to a loss from the impairment of projects. Furthermore, non-current assets had decreased as well, particularly equipments for rent as a result of the depreciation and loss from the impairment of assets including loss from the liquidation of its subsidiaries. Total assets in 2008 equaled to 1,691.5 million Baht, an increase of 33.3% or 422.1 million Baht from 1,269.4 million Baht in 2007. Such increase was primarily due to a substantial increase in current assets such as cash and cash equivalent, trade account receivables and note receivables and inventory. However, non-current assets had decreased significantly, equipments for rent in particular.

Trade Account Receivables and Note Receivables The outstanding balances as at 31 December classified by aging counting from the due date are as follows: (Unit: million Baht) Trade Account Receivables and Note Receivables Classified by Aging

Not yet due Past due up to 3 months Past due 3-6 months Past due 6-12 months Past due over 12 months Back to back basis Total Less: allowance for doubtful accounts Trade account receivables and note receivables - net

2009

321.36 570.51 111.17 26.98 71.77 9.66 1,111.45 (30.65) 1,080.80

2008

213.70 366.02 163.24 23.55 23.37 48.93 838.81 (18.07) 820.74

2007

183.95 205.33 51.20 9.63 1.46 21.75 473.32 (2.99) 470.33

Advanced Information Technology Public Company Limited

Normally, the increase or decrease in trade account receivables will coincide with revenues in each year. In 2009, the trade account receivables increased by 260.1 million Baht compared to 2008 due to an increase in revenues in 2009 and the overdue payment. As for the accounting policy on the allowance for doubtful account, if the customer is overdue for more than 12 months, the Company will deliberate on a case-by-case basis. Thus, the set up of the allowance for doubtful account must be approved by the Audit Committee. In 2009, the Company had set up the allowance for doubtful account on its customers for the amount of 12.6 million Baht.

Inventory Inventories comprises of equipment and work in process and goods in transit. In 2009, if exclude the inventory impairment for the amount of 20.8 million Baht, the Company would report a very close figures of the outstanding inventory to that of 2008 i.e. 489.5 million Baht in 2009 compared to 481.9 million Baht in 2008. Work in process which had taken into account the inventory impairment was a project for Thailand Privilege Card Co., Ltd. Other major projects during the end of 2009, which were classified as work in process, included Uninet Fibering Project of the Ministry of Education, Metro LAN for 3G Project of NEC (Thailand) Co., Ltd., Access Switch Project of CAT Telecom Plc., SHDSL IP DSLAM Project of TOT Plc. The equipment and work in process in 2008 equaled to 464.3 million Baht, an increase of 123.6 million Baht compared to that of 2007, which equaled to 340.7 million Baht. The undelivered product in 2008 equaled to 17.6 million Baht, a decrease of 65 million Baht from 82.6 million Baht in 2007 given a number of large-scale projects on hands during the end of 2008 whereas the purchased equipments had already been delivered. The equipment and work in process in 2008 included Cisco 192, 970 IPcore, Gigabit Service, Upgrade Metro Ethernet and etc. During the end of 2007, the Company purchased the equipments for the new awarded project; hence, the equipment and work in process in 2008 increased from that of 2007 whereas the undelivered product in 2008 decreased from that of 2007.

Equipments for Rent - Net Equipments for rent had continued to decrease following the reduction of capital expenditures on these outsourcing equipments over the past 3 years. There was no investment in 2009 while the investment in 2008 and 2007 worth 2.7 million Baht and 6.5 million Baht, respectively. Though there was a loss from the impairment throughout the past 3 years and depreciation of the equipments for rent, net value of the equipments for rent in 2009 equaled to 6.8 million Baht, a decrease of 29.6 million Baht or 81.3% from that of 2008, which was recorded at 36.4 million Baht. Net value of the equipments for rent in 2008 decrease 141.6 million Baht or 79.6% from that of 2007, which was recorded at 178.0 million Baht.

Liabilities All of the Company没s liabilities were current liabilities in line with the timing of its projects. Toward the end of 2009, the Company received large account receivable payments. Therefore, as at the end of 2009, the Company reported 913.8 million Baht of total current liabilities, an increase of 12.3% or 99.8 million Baht from 814.0 million Baht of total current liabilities in 2008. Such increase was mainly attributable to 1) an increase in trade account payables amounted 254.2 million Baht, partly from the

Annual Report 2009

extension of credit terms by large trade creditors and from an increase in purchase volumes, of which 2009ûs was higher than 2008ûs, for large-scale projects that the Company were working on 2) an increase in advanced payment payable for the amount of 119.2 million Baht upon winning the bid for mega-project thereby receiving advanced payment from customers nearly the end of 2009 3) an increase of the overdue costs for the amount of 40.5 million Baht as some projects were delivered during the end of 2009 but not yet collected the payments and 4) an increase in accrued expenses for the amount of 53.5 million Baht resulting from an increase in sale commission for mega-projects which were delivered but not yet paid the sale commission varied according to project outcomes. Other current liabilities, which include short-term loans from financial institutions, trust receipt payables, trade account payables and accrued expenses, had increased significantly by 354.2 million Baht or 77.0% from 2008 compared to 2007. The increase resulted from almost all items in the liabilities, which normally varied according to the number of awarded projects and the distribution of projects acquired during the year. It is also worth to note that over 100% increase in the Companyûs sales volume from 2007 to 2008 was in line with the increase in liabilities. Liquidity Cash Flow Statement In 2009, the Company had an increase in net cash flow of 79.0 million Baht. Cash inflow from operating activities of 639.5 million Baht was due to better operating performance, longer credit terms of trade account payables and accrued expenses as well as accrued sale commissions netting off with higher trade account receivables. Cash outflow from investing activities of 3.8 million Baht largely caused by the investment in office supplies and software copyrights netting off with the collateral fixed deposits with banks. Cash outflow financing activities of 556.7 million Baht was mainly attributable to the repayment of short-term loans from financial institutions and trust receipt payable as well as dividend payment netting off with more money from capital increase. In 2008, the Company had an increase in net cash flow of 141.5 million Baht. Cash outflow from operating activities of 46.3 million Baht mainly resulted from the overdue account receivables and investment in inventory. Cash outflow from investing activities of 5.7 million Baht resulted from investments in the subsidiary company named BANC Serve Co., Ltd. and building and equipment netting off with the withdrawal of projectûs collateral fixed deposits. However, the Company had 193.4 million Baht of cash inflow from the financing activities arising from both short-term loans and trust receipt payable netting off dividend payment. In 2007, the Company had a decrease in net cash flow of 34.9 million Baht. Cash inflow from operating activities of 271.3 million Baht was mainly from 2006ûs overdue account receivables and a decrease in inventory investment. Cash inflow from investing activities of 10.1 million Baht resulted from the withdrawal of projectûs collateral fixed deposits netting off with the investments in subsidiary company - Maple plus Co., Ltd. and equipments for rent. Cash outflow from financing activities of 316.3 million Baht arose from the repayment of both short-term and long-term loans and trust receipt payable including dividend payment.

Advanced Information Technology Public Company Limited

Liquidity Ratio In 2009, the Company没s liquidity ratio had increased from 1.89 times in 2008 to 2.00 times given longer credit terms from large account payables. As a result, the days payable outstanding had increased from 33 days in 2008 to 42 days in 2009 accompanied by the improved inventory cycle from 63 days in 2008 to 57 days in 2009. Although the account receivable turnover had lengthen the days sale outstanding from 77 days in 2008 to 93 days in 2009, the liquidity ratio in 2009 was still able to increase from that of 2008. In 2008, the liquidity ratio had decreased from 2.12 times in 2007 to 1.89 times. This was due to the fact that in 2008 the Company had incurred short-term loans and trust receipt payable to finance year-end projects on top of the overdue account receivables. Even though the account receivable turnover had shortened the days sale outstanding from 134 days in 2007 to 77 days in 2008 and the cash cycle had reduced from 172 days in 2007 to 106 days in 2008, the days payable outstanding had decreased from 74 days in 2007 to 33 days in 2008. 7.

Capital Expenditures The Company has continued to cut down its investment in equipments for rent since 2007 from 6.5 million Baht to 2.7 million Baht in 2008. There was no such investment in 2009. Since most of the equipments for rent had reached end of contract and useful life, there was no additional expense in relation to this. Nonetheless, the Company still invested in office supplies and software copyrights for its normal business operations. In 2008, the Company had invested in the ordinary shares of the subsidiary company - BANC Serve Co., Ltd. for 80% stakes with total investment value of 8.0 million Baht. In 2007, the Company had invested in the ordinary shares of the subsidiary company - Maple plus Co., Ltd. for 55% stakes with total investment value of 5.5 million Baht.

Sources of Funds The Company没s debt to equity ratios, 0.89, 0.93 and 0.57 times in 2009, 2008 and 2007, respectively, clearly reflected its stability in terms of the financial policy which utilized more money from shareholders没 equities than financial borrowings. The Company没s current sources of funds include: Short-term Loans (Unit: million Baht)

Short-term Loans from Financial Institutions

Annual Report 2009

Interest Rate (% p.a.) As at 31 December 2008

2009

2008

2007

4.10-4.60%

365.0

40.0

Loans from Financial Institutions The Company没s sources of borrowings were from local financial institutions with total credit lines of 4,026.8 million Baht (as at 31 December 2009).

1. 2.

Short-term facilities comprise of bank overdraft, promissory notes and trust receipt Indirect loans include bank guarantee

2,551.0 1,475.84

Advanced Information Technology Public Company Limited

Sources of Borrowings

(Unit: million Baht) Total Credit Lines

Relationship with Investors The Board of Directors has placed great emphasis on the accuracy, completeness, transparency and reach when reporting financial and general information, including any material information that may affect the Company没s share price. Normally, the disclosure of information to investors and relevant parties will be done through the Stock Exchange of Thailand没s channel and published media. The Company has also set up a particular division to take care of the disclosure of information to shareholders, analysts, and other related institutions. The Company opens various communication channels to help shareholders and investors stay informed of any up-to-date news, 1. Tel: 0-2275-9400 2. email: ir@ait.co.th 3. Website: http://www.ir.co.th The Company has collected a considerable amount of valueable information on the corporate website, including list of the Board of Directors, share price, annual report, and other information for shareholders such as list of major shareholders, shareholders没 meeting and dividend policy. Shareholders and investors are also free to ask any questions or queries about AIT by filling in the required form on the Company没s website. 4. Annual Opportunity Day

100

Annual Report 2009

Other References Share Registrar

Thailand Security Depository Co., Ltd. Capital Market Academy Building, The Stock Exchange of Thailand 2/7 Moo 4 (Northpark Project), Vibhavadi-Rangsit Road, Thung Song Hong, Laksi, Bangkok 10210 Tel: 0-2596-9000 Fax: 0-2832-4994-6 Thailand Security Depository Co., Ltd. 4th and 6th-7th Floor, The Stock Exchange of Thailand Building, Ratchadaphisek Road, Klongtoey, Bangkok 10110 Tel: 0-2359-1200 Fax: 0-2359-1259 Ernst & Young Office Limited 33rd Floor, Lake Ratchada Office Building, 193/136-137 New Ratchadaphisek Road, Klongtoey, Bangkok 10501 Tel: 0-2264-0777 Fax: 0-2264-0789-90

101

Advanced Information Technology Public Company Limited

Auditor

Corporate Social Responsibility: CSR Advanced Information Technology emphasizes the importance of social responsibility by taking consideration of all stakeholders such as responsibility to shareholders, customers, employees and society with business ethic under good corporate governance practice along with taking care of social and environment. The company strongly realizes that the success of the company cannot only be measured from profitability, business growth, and financial figures but also being good citizen in the society with business ethic and community support to help them develop and rely on themselves. Since the strong social foundation is the key factor for sustainable development. Hence, organization must be operating along side with social responsibility and community development and society. The company has strong intention to do business under good governance practice with social contribution to the quality development of the society by using technology and knowledge for young generation which will lead to sustainable growth and happiness. In addition to adherence to business ethic and good corporate governance through policy on internal control, risk management, and performance monitoring by management, the Board of Directors of the company also promotes and supports social contributions by conduction social activities which has been reported to the Board of Directors every year as demonstrated by activities for social benefits and environment by employees every year.

Activities for social and environmental responsibilities for 2009 Technology Library for Learning Project The company initiated the technology library for learning project by giving kiosk equipment for each subject with the online computer test for the 3 southern provinces in the total of 17 sets for opportunity to learn and skill development of children.

102

Annual Report 2009

Activities for coral reel plantation by using PVC pipe The company participated in the plantation program for coral reel that has been destroyed in the sea as a result of human activities and natural causes. The initiative for this project was developed and proved that PVC is safe for the lives under the sea to grow and attach with the PVC therefore PVC is the material that is environmental friendly.

Activities for scholarship for TSAE-Student Formula 2010 The company gave scholarship TSAE-Student Formula 2010 which is the design and car racing formula with the objective to enhance automotive knowledge for the engineering association.

Advanced Information Technology Public Company Limited

103

104

Annual Report 2009

√ÿªº≈∑“ß°“√‡ß‘π·≈–°“√¥”‡π‘πß“π / Summary of Financial and Operational Results

SET Award °”‰√ ÿ∑∏‘ / Net Profit

√“¬‰¥â√«¡ / Total Revenues

(Àπà«¬ : ≈â“π∫“∑) (Unit : Mb.)

2552/2009

2551/2008

2550/2007

1,944.26 913.79 1,030.47 3,876.51 3,444.26 311.04 5.16 5.04 246

1,691.49 813.97 877.52 3,324.86 2,998.57 217.87 3.63 3.58 245

1,269.42 459.77 809.65 1,646.60 1,482.11 94.81 1.58 1.56 227

2552/2009

2551/2008

2550/2007

2.00 23.12 8.02 0.89

1.89 21.36 6.55 0.93

2.12 25.94 5.76 0.57