THAI INDUSTRIAL & ENGINEERING SERVICE PUBLIC COMPANY LIMITED
-------------------------------------------------------------------------------------------------------------------INTERIM FINANCIAL STATEMENTS
FOR THE THREE-MONTH PERIODS ENDED MARCH 31, 2012 AND 2011
AUDITOR’S REPORT ON REVIEW OF INTERIM FINANCIAL INFORMATION
To The Shareholders and Board of Directors of
Thai Industrial & Engineering Service Public Company Limited
I have reviewed the accompanying statement of financial position of Thai Industrial &
Engineering Service Public Company Limited as at March 31, 2012 and the related statements of
comprehensive income, changes in shareholders’ equity and cash flows for the three-month periods ended
March 31, 2012 and 2011, and selected explanatory notes. Management is responsible for the preparation and
presentation of this interim financial information in accordance with the accounting standards No. 34 “Interim
Financial Reporting”. My responsibility is to express a conclusion on this interim financial information based on
my review.
SCOPE OF REVIEW
I conducted my review in accordance with auditing standard on Review Engagements 2410,
“Review of Interim Financial Information Performed by the Independent Auditor of the Entity.” A review of
interim financial information consists of making inquires, primarily of persons responsible for financial and
accounting matters, and applying analytical and other review procedures. A review is substantially less in
scope than an audit conducted in accordance with Standards on Auditing and consequently does not enable
me to obtain assurance that I would become aware of all significant matters that might be identified in an
audit. Accordingly, I do not express an audit opinion.
CONCLUSION
Based on my review, nothing has come to my attention that causes me to believe that the
accompanying interim financial information is not prepared, in all material respects, in accordance with the
accounting standards No. 34 “Interim Financial Reporting”.
*****/2
-2SIGNIFICANT OF INFORMATION AND EVENTS
1) I draw attention to Note 2 to the interim financial statements, As at March 31, 2012 and
2011 the Company had current liabilities higher than current assets of Baht 467.65 million and Baht 414.34
million and deficit of Baht 325.67 million and Baht 333.16 million, respectively. The Company’s ability for
repayment to liabilities depends on opportunity to seek for the financial support and management’s ability of
the Company in how to solve its operation. These factors indicate the existence of material uncertainties
which cast significant doubt over the Company’s ability to operate and continue as a going concern.
2) I draw attention to Note 23 to the interim financial statements which explained with
significant uncertainty from the commercial dispute about the compliance with the construction contract with
2 owners and cannot be predicted at this time and the Company does not provide the provisions for
contingent liabilities from potential losses in the interim financial statements.
COMPARATIVE STATEMENT OF FINANCIAL POSITION AS AT DECEMBER 31, 2011
I have previously audited the financial statements for the year ended December 31, 2011 of
Thai Industrial & Engineering Service Public Company Limited in accordance with generally accepted
auditing standards and expressed an unqualified opinion on those statements in my report dated February 28,
2012. The statement of financial position as at December 31, 2011, presented herewith for comparative
purposes, was a part of the financial statements referred to above. I have not performed any auditing procedures
since that date.
(Miss Wannisa Ngambuathong)
Certified Public Accountant
Registration No. 6838
Dharmniti Auditing Company Limited
Bangkok, Thailand
May 3, 2012
2012/584/0233