Page 105 - One Report Thai Final_ENG_2021

Tycoons Worldwide Group (Thailand) Plc.

2.2 Basis of consolidation

a) The consolidated financial statements include the financial statements of Tycoons
Worldwide Group (Thailand) Public Company Limited (“the Company”) and the
following subsidiary company (“the subsidiary”) (collectively as “the Group”):

Country of Percentage of
Company’s name Nature of business incorporation shareholding
2021 2020
(Percent) (Percent)
Invest in real estate
K D B Company limited projects Thailand 44.99 -

During the current period, the Company acquired new ordinary shares of K D B
Company Limited and had control over this company as described in Note 11 to the

financial statements. Therefore, the Company included the financial statements of
this company in the consolidated financial statements in the current period.

b) The Company is deemed to have control over an investee or subsidiary if it has rights,
or is exposed, to variable returns from its involvement with the investee, and it has
the ability to direct the activities that affect the amount of its returns.

c) Subsidiary is fully consolidated, being the date on which the Company obtains
control, and continue to be consolidated until the date when such control ceases.

d) The financial statements of the subsidiary are prepared using the same significant
accounting policies as the Company.

e) Material balances and transactions between the Company and its subsidiary have
been eliminated from the consolidated financial statements.

f) Non-controlling interests represent the portion of profit or loss and net assets of the
subsidiary that are not held by the Company and are presented separately in the

consolidated profit or loss and within equity in the consolidated statement of financial
position.

2.3 The separate financial statements present investments in subsidiary and associate under the
cost method

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