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Form 57 (Y2K) SANSIRI PUBLIC COMPANY LIMITED Progress Report on Preparation for Y2K Report No. 4 (ending at 31 March 1999) Sansiri Public Company Limited the main business of which is real estate development; having its registered office at 18 floor of Siripinyo Building , No. 475 Sri Ayutthaya Road, Thanon Phayathai Sub-district , Rajthevi District , Bangkok 10400 , Telephone No. 201-3905 , Fax No. 201- 3904 , would like to report the preparation for the Year 2000 problem , Report No. 4 ending at 31 March 1999 , as follows:- The preparation for the Year 2000 problems: 1. The Actions taken since the last report Prepare Y2K contingency plan 01/01/2542 31/03/2542 Commit The details of contingency plan The plan could be classified into 3 categories: 1. The company's main system (RMS Real Estate Management System) RMS is the main application that runs on IBM RISC 6000 system with AIX Operating System and INFORMIX Database Management System. This application composes of 3 parts 1.1 Financial Module - For the cash outflow, all the transactions of the year 1999 had to be entered into the system within the 3rd week of December. Then, the Financial Department can complete the Cash Outflow Report of the year 1999 in time. For the transactions of the year 2000, user can input into the system as usual. Form 57 (Y2K) of SANSIRI PUBLIC COMPANY LIMITED Progress Report on Preparation for Y2K : Report No. 4 (ending at 31 March 1999) During last week of the year 1999, Financial Department will transfer the data of the year 2000 from IBM to PC. Also all the related reports have to be printed out for further reference. This can help them to continue their job on PC if there is any problem occurred during next year. - For the cash inflow, all the transactions of the year 1999 should be completed within the 3rd week as cash outflow. However, to make it more flexible, we allow the user to input the extra transactions into the system if there is still some transactions left (as we expect.) Anyway, user has to update the Cash Inflow Report everyday in case that there are extra transactions added on to the system on that day. For the transactions of the year 2000, user can enter the data into the system as usual. During the last week of the year 1999, user has to print out all the necessary reports (concerning the expected cash inflow transactions of the year 2000) for further reference. - With the plan commented above, we are confident that the Financial Department can prepare the year 1999's Cash Flow Report on time. Moreover, for the transactions of the year 2000, the Financial Department can continue their work with semi-manual operations by using spreadsheet software on PC. Form 57 (Y2K) of SANSIRI PUBLIC COMPANY LIMITED Progress Report on Preparation for Y2K : Report No. 4 (ending at 31 March 1999) 1.2. Accounting Module - Usually, Accounting Department prepares financial statement every quarter. In order to speed up this operation and help them to finish the report of financial statement as soon as possible, we will change the schedule from preparing quarterly report to be monthly report instead. As the result, user can complete the report of October and November within the 2nd week of December, 1999. While the data of December, 1999 itself has to be gathered and verified week by week, hence, we are almost finish all the data preparation process by the end of the year. During last week, user will print out all the necessary report, also the financial statement as of November 30, 1999, then transfer the data from IBM to PC. Moreover, user will prepare the draft of financial statement as of December 31, 1999. If any problem occur on January, 2000, we can continue our work on PC as Financial Department. Form 57 (Y2K) of SANSIRI PUBLIC COMPANY LIMITED Progress Report on Preparation for Y2K : Report No. 4 (ending at 31 March 1999) 1.3. Sales Module - Since all the projects of Sansiri PCL had been closed, the data of sales module are only used for reference in the future (in case of we start up the new project.) Hence, to avoid the problem during the critical period, user just prints out all necessary reports for further reference. However, if we start up the new project, Sales Department can handle their job by operating the data on PC using spreadsheet and word processing software. 2. Personal Computer System 2.1. PC and Peripherals Since our IT Department had tested all the PCs in our company, we are confident that all of them can pass the Y2K. To make sure that there won't be any problem occurred during that critical period, the management will allocate the budget of 1,000,000 Baht to replace the equipment for those that generate problem. However, we do not classify this amount of budget as expense for solving Y2K problem, but we will set it as the expense for improving company's efficiency. Form 57 (Y2K) of SANSIRI PUBLIC COMPANY LIMITED Progress Report on Preparation for Y2K : Report No. 4 (ending at 31 March 1999) 2.2. Payroll System To avoid the problem that may occur during the beginning of the year 2000, the Personnel Department has set up the plan as follow: - The payroll slips and report for the period of December, 1999 will be completed by the 2nd week of December, 1999. - The employees' Income Tax Report for the year 1999 will be completed within the 3rd week of December, 1999. - During the final week of the year, the Personnel Department will prepare the payroll slips and report for the period of January, 2000 to avoid the problem that may occur during that period. Also, user has to print out all the necessary report for further reference. - In case that problem occur on the beginning of the year 2000, user can record into S/W type Spreadsheet. Form 57 (Y2K) of SANSIRI PUBLIC COMPANY LIMITED Progress Report on Preparation for Y2K : Report No. 4 (ending at 31 March 1999) 3. Other Equipment 3.1. Network Equipment The network equipment using in our company is HUB which was informed by the vendor that none of their parts concerning date/time, so we are confident that they won't generate any problem at all. However, if they cause an error or any problem during that period, the management will allocate the budget of 250,000 Baht to replace them. 3.2. Time Stamp Equipment (for Time Attendance System) In case that the equipment can not work on that day, we can use the manual operation by recording all the transactions on book instead. 2. Management Analysis In monitoring the plan to resolve the Y2K problem, we found that our operation team is able to achieve the target as planned. Furthermore all the result of the test of all hardware, equipment and other system showed that they can perform as usual. The Management team is confident that the Company's business operation will not be interupted nor faced any of Y2K problems. However, for unexpected problem which may cocur and impact the business of the Company, it also has the contingency plan to coup with during the interim period. Form 57 (Y2K) of SANSIRI PUBLIC COMPANY LIMITED Progress Report on Preparation for Y2K : Report No. 4 (ending at 31 March 1999) In confirming that this set of articles and information has been certified as one whole complete set. We have assigned Mr. Nopporn Boonthanom to initial his signature on each and every pages of this document. In the event where his signature does not appear on any particular page of this document , it is then be known that we will not reponsible for any articles and information contained within it. Name PositionSignature 1. Mr. Chittin Sibunruang Director .................................................. 2. Mr. Vasant Chatikavanij Director .................................................. 3. Mr. Apichart Chutrakul Director .................................................. 4. Mr. Srettha Thavisin Director .................................................. 5. Mr. Wanchak Buranasiri Director .................................................. 6. Mr. Bradford H. Dcckser Director .................................................. 7. Mr. Merrick R. Kleeman Director .................................................. 8. Mr. Visarl Chowchuvech Director .................................................. 9. Ms. Chittra Srisakorn Director .................................................. 10. Mr. Thanapol Sirithanachai Director .................................................. Name PositionSignature 1. Mr. Nopporn Boonthanom Vice President .................................................. (Legal Department) Y2K_Q1e.doc