MDX : Report of debt collection progress on loans and advance to related companies as of Q2/2022

To:

The President of the Stock Exchange of Thailand

Progress of debt collection

(unit : million)

Parties involved

Amount

Descriptions

Collection procedure

Balance

(31 Mar 22)

(30 Jun 22)

NVPSKG Joint

Venture

( 10% invested by Gateway

Development Co., Ltd)

 Trade receivable

14.55

MDX was employed by the joint

As it is under legal process between the

14.55

venture on Klong Daan Waste

government agency and the joint venture,

Water Treatment Project under 3

MDX has do nothing yet.

employment contracts.

Suspended operation of Klong Daan

project by the government agency

affected all 3 contracts.

Gateway

Development Co.,

Ltd.

(35.71% subsidiary)

 Long-term Loans

220.00

In 2001, MDX lent to Gateway

MDX filed a petition against Gateway

187.24

 Accrued Interest

115.39

Development Co., Ltd. (a wholly

Development Co., Ltd to the Bangkok South

-

owned subsidiary at that time)

Civil Court as the undecided case no.

Receivable

1140/2561 on 16 May 2018.

On March 28, 2019, the Southern Bangkok

Civil Court judged that Gateway

Development Co., Ltd. disburse the money

to MDX Pcl.

As Gateway Development Co., Ltd did not

pay the judgement debt, the Executing

Officer, then, seized the land property of

Gateway Development Co., Ltd to sell by

auction for further making debt repayment.

Parties involved

Amount

Descriptions

Collection procedure

Balance

(31 Mar 22)

(30 Jun 22)

The public auction ends in December 2021.

It is now under the summarizing process of

the executing officer.

On June 22,2022 MDX received Baht

287.92 million from the auction to pay for

the judgement debt. All accrued interest

expenses is paid up while some principal is

remaining.

MDX Asset Co., Ltd.

(9.90% held by GMS

Power Co., Ltd.)

 Long-term Loans

215.58

Two subsidiaries,

GMS

Power

221.38

(GMS Power Co., Ltd.

(52.01%)

and

Gateway

and Gateway

Development (35.71%),

as

being

Development Co.,

creditors

under the

rehabilitation

Ltd. lent to MDX

plan of MDX, did transfer partial

Asset Co., Ltd.)

right to receive payment from MDX

to MDX Asset Co., Ltd. MDX Asset,

then, issued promissory notes, due

November 24, 2018, to the both

companies as evidence of debt.

Parties involved

Amount

Descriptions

Collection procedure

Balance

(31 Mar 22)

(30 Jun 22)

Gateway Estate Co.,

Ltd.

 Long-term Loans

137.82

It is the loans giving to Gateway

On April 16, 2020, Gateway Estate

130.23

 Accrued Interest

52.70

Estate Co., Ltd. for business

submited a letter requesting for a debt

50.19

operation. MDX held 75% shares in

moratorium on Y2020 debt repayment due

Receivable

Gateway Estate at the transaction

to Covid-19 pandemic and will resume

date.

repayment in 2021.

On June 4, 2021, Gateway Estate, again,

requested for a moratorium and on August

13, 2021 the Board of Directors of MDX Pcl.

has passed a resolution on Gateway

Estate's request. Then, the debt repayment

will start in 2022 and end in 2025.

Siamland Holding

(1990) Co., Ltd.

 Long-term Loans

190.00

MDX BVI Ltd., a wholly owned

Siamland is now under liquidation process.

190.00

subsidiary, pledged its assets as

MDX BVI has already submitted the right for

collateral for Siamland Holding (a

asset allocation.

mother company of MDX) and

Siamland was incapable to return

those assets to MDX BVI. Instead,

Siamland promised to pay a total of

Baht 200 million. Up to the present,

it actually paid only Baht 10 million.

Parties involved

Amount

Descriptions

Collection procedure

Balance

(31 Mar 22)

(30 Jun 22)

Mr. Roy Jutabha

 Long-term Loans

1.99

In 1990, Gateway Development Co.,

Nothing has been done.

1.99

Ltd., the subsidiary, lent to Mr. Roy

Jutabha. Mr. Roy Jutabha was a

director of Gateway Development

while MDX was not the shareholder

of Gateway Development at the

transaction date.