Page 104 - One Report Thai Final_ENG_2021

Tycoons Worldwide Group (Thailand) Plc.

Tycoons Worldwide Group (Thailand) Public Company Limited and its subsidiary
Notes to consolidated financial statements

For the year ended 31 December 2021

1. General information

1.1 General information of the Company

Tycoons Worldwide Group (Thailand) Public Company Limited (“the Company”) is a
public company incorporated and domiciled in Thailand. Its parent company is Tycoons
Group International Co., Ltd. which was incorporated in Cayman. The parent company of
the group is Tycoons Group Enterprise Co., Ltd which was incorporated in Taiwan. The

Company is principally engaged in the manufacture and distribution of steel wire rods,
steel annealing wire, reinforced concrete bar, steel screw and wire products. The
registered address is at 99 Moo 1, Tambol Nikompattana, Amphur Nikompattana, Rayong.

1.2 Coronavirus disease 2019 Pandemic

The Coronavirus disease 2019 pandemic is adversely impacting most businesses and
industries. This situation may bring uncertainties and have an impact on the environment

in which the Company operates. The management has continuously monitored ongoing
developments and assessed the financial impact in respect of the valuation of assets,
provisions and contingent liabilities, and has used estimates and judgement in respect of
various issues as the situation has evolved.

2. Basis of preparation

2.1 The financial statements have been prepared in accordance with Thai Financial Reporting
Standards enunciated under the Accounting Profession Act B.E. 2547 and their
presentation has been made in compliance with the stipulations of the Notification of the

Department of Business Development, issued under the Accounting Act B.E. 2543.

The financial statements in Thai language are the official statutory financial statements of
the Company. The financial statements in English language have been translated from the
Thai language financial statements.

The financial statements have been prepared on a historical cost basis except where
otherwise disclosed in the accounting policies.

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