



SIAM SYNTECH CONSTRUCTION PUBLIC COMPANY LIMITED     
AND SUBSIDIARIES


Interim Financial Statements
For the period ended March 31, 2004
and
Review Report of Certified Public Accountant






REVIEW REPORT OF CERTIFIED PUBLIC ACCOUNTANT

To the Board of Directors of
Siam Syntech Construction Public Company Limited

I have reviewed the accompanying consolidated balance sheet of Siam Syntech Construction Public 
Company Limited and its subsidiaries as at March 31, 2004, the consolidated statements of income, 
changes in shareholders equity and cash flows for each of the three-month periods ended March 31, 
2004 and 2003.  I have also reviewed the balance sheet of Siam Syntech Construction Public 
Company Limited as at March 31, 2004, the statements of income, changes in shareholders equity 
and cash flows for each of the three-month periods ended March 31, 2004 and 2003.  The management 
of Siam Syntech Construction Public Company Limited is responsible for the correctness and 
completeness of information presented in these financial statements.  My responsibility is to issue a 
report on these financial statements based on my reviews.

Except as described in the third paragraph, I conducted my review in accordance with the auditing 
standard applicable to review engagements.  This Standard requires that I plan and perform the review 
to obtain moderate assurance as to whether the financial statements are free of material misstatement.  
A review is limited primarily to inquiries of company personnel and analytical procedures applied to 
financial data and thus provides less assurance than an audit in accordance with generally accepted 
auditing standards.  Accordingly, I do not express an audit opinion on the reviewed financial 
statements.

Since the appointment of the Planner and the Plan Administrator of the Company by the Central 
Bankruptcy Court, the creditors filed their respective claims for payments to the official receiver.  The 
Plan Administrator adjusted the outstanding debts that comprise the claims, which were already 
approved by the Central Bankruptcy Court, and one claim which is still being examined by the official 
receiver under the rehabilitation plan in the consolidated financial statements and the Companys 
financial statements for the three-month period ended March 31, 2003.  However, there were three 
claims which was in the process of examination by the official receiver that had not been adjusted in 
according to the rehabilitation plan as described in Notes 2 and 15 to the financial statements.  I am, 
therefore, unable to obtain sufficient evidence to verify the said issues which may materially affect the 
consolidated financial statements and the Companys financial statements for the threemonth period 
ended March 31, 2003.  Later for the year ended June 30, 2003, the Company has already adjusted 
such outstanding debts under the rehabilitation plan.

Based on my review, except for the effect of the matter discussed in the third paragraph to the 
financial statements for the threemonth period ended March 31, 2003, nothing has come to my 
attention that causes me to believe that the accompanying financial statements are not presented fairly, 
in all material respects, in accordance with generally accepted accounting principles.



I draw your attention to Note 2 to the financial statements.  As shown in the consolidated financial 
statements and the Companys financial statements for the three-month periods ended March 31, 2004 
and 2003, after the Company has partially implemented the rehabilitation plan, and the Central 
Bankruptcy Court has ordered the cancellation of the Companys rehabilitation.  However, the 
Company is currently in the process of implementing the reminder of the rehabilitation plan.

I have previously audited the consolidated financial statements of Siam Syntech Construction Public 
Company Limited and its subsidiaries for the period from July 1, 2003 to December 31, 2003, and the 
financial statements of Siam Syntech Construction Public Company Limited for the same period in 
accordance with generally accepted auditing standards and expressed an unqualified opinion on those 
statements in my report dated February 23, 2004.  In addition, I provided further information in the 
emphasis of matter paragraphs relating to the uncertainty about the Companys ability to continue as a 
going concern.  However, the Company has partially implemented the rehabilitation plan and the 
Central Bankruptcy Court has ordered the cancellation of the Companys rehabilitation, also the 
Company is currently in the process of implementing the reminder of the rehabilitation plan.  The 
consolidated balance sheet of the Company and subsidiaries as at December 31, 2003 and the balance 
sheet of the Company as at the same date, which have been presented  herein for comparative 
purposes, are components of those financial statements which I have audited and reported thereon.            
I have not performed any audit procedures subsequent to the date of that report.





Narong Luktharn
Certified Public Accountant
Registration No. 4700

KPMG Phoomchai Audit Ltd.
Bangkok
May 11, 2004


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