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Clarification performance of Q3/2009 as at 30 September 2009

Syntec Construction Public Company Limited, would like to clarify
the Company and Joint Ventures Financial Statements for the third quarter of
2009 ending on 30 September 2009 , show a total profit in consolidated
financial statements of Bt113.185 million, while the same fiscal period of
performance of 2008 showed a total profit of Bt93.371 million, increasing by
Bt19.814 million or increasing of 21.22%. SYNTEC may clarify the reasons of
increasing are as follows :
1. The consolidated financial statements show the portion of Cost of
construction per Revenue from construction is 89.97% compared to 91.20% in
the same period of 2008 as the result to the increasing of gross profit.
2. The consolidated financial statements has Reversal of Income tax
expense as Bt33.170 million (as booked in the last six months) due to SYNTEC
wrote off bad debts - a bankrupt debtor by the judgment of Central Bankruptcy
Court, on other receivables that incur tax loss relating.

Furthermore, the progressive status of loans to related parties are
as follows:
1. Short-term Loans to Related Parties
Joint Venture (JV)
-JV between SYNTEC and Federal Engineering Co.,Ltd., valued at
Bt14.09 million (fully provision).In the currently, the JV is in the process
of document collection for dissolved registered firm to Revenue department to
dissolve accounting required by the law.
-JV between SYNTEC and Underground Technologies (Thailand) Co.,
Ltd., valued at Bt2.19million.Furthermore, SYNTEC has been still following up
for the rest debt.
-SVK JV. valued at Bt4.64 million. Increasing by Bt0.24 million from
the fee of bank guarantee.Furthermore, SYNTEC has been still following up for
the rest debt.
-SSU JV. valued at Bt0.33 million. Furthermore, SYNTEC has been
still following up for the rest debt.
-SM JV. valued at Bt68.47 million. Increasing by Bt27.93 million
from the on-going project with National Housing Authority.
Other Related Companies
- Mivan (Thailand) Co.,Ltd. valued at Bt74.77 million due to SMJV
advance working capital to Mivan and SYNTEC has stake in SMJV for 65%. On the
other hand, Mivan is the Creditor of SMJV which SYNTEC has to take equity for
Bt77.75 million. These two records are waiting for offset.
2. Long-term Loans to Related Parties
Joint Venture (JV)
-JV between SYNTEC and Federal Engineering Co., Ltd., valued at
Bt28.65 million (fully provision).Currently, the JV is in the process of
document collection for dissolved registered firm to Revenue department to
dissolve accounting required by the law.
-Siam Syntec-Wattana Engineering Joint Venture, valued at Bt12.18
million (fully provision). Currently,SYNTEC is in the process of document
collection for dissolved registered firm to Revenue department and will
set the provision as the bad debt afterward.
Other Related Companies
-Gentech Engineering Co., Ltd., valued at Bt4.96 million (fully
provision). Currently, SYNTEC is in the process of document collection for the
pursuit litigation to the Court.
3. Other Long-term Loans
The Company has remaining 2 other long-term loans, valued at
Bt180.76 million (fully provision). These loans are Bt177.76 million to Syntec
Genesis Co., Ltd, Bt3.00 million to Metro Fabricator Co., Ltd.,Currently,
SYNTEC is in the process of document collection for the pursuit litigation to
the Court.

Please be informed accordingly.

Sincerely yours,

(Mr.Somchai Sirilertpanich)
Managing Director

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