The chairman informed the Board that in order to facilitate the business operations of the Company, it is necessary to (i) open bank account(s) with, (ii) obtain loan(s) and/or other banking or credit facilities from, and (iii) enter into foreign exchange and derivative transactions with, Citibank, N.A. Bangkok Branch (“Bank”), according to the amount(s) as may be from time to time required by the Company and as granted by the Bank as the case maybe.