Page 137 - One Report Thai Final_ENG_2021

Tycoons Worldwide Group (Thailand) Plc.

(Unit: Million Baht)
Financial statements in which equity method is applied/Separate financial statements
As at 31 December 2020
Fixed interest rates Floating Non-
Within interest
1 year 1 - 5 years interest rate bearing Total Effective interest rate
(%)
Financial assets
Cash and cash equivalent - - 121 40 161 Refer to Note 7
Trade and other receivables - - - 415 415 -
Restricted bank deposits 60 - - - 60 Refer to Note 10
60 - 121 455 636

Financial liabilities
Trade and other payables - - - 327 327 -
Short-term loans 966 - - - 966 Refer to Note 16
Long-term loans 20 - 22 - 42 Refer to Note 18
986 - 22 327 1,335

Foreign currency risk

The Company’s exposure to the foreign currency risk relates primarily to its trading transactions
and borrowings that are denominated in foreign currencies. The Company seeks to reduce this risk
by entering into foreign exchange forward contracts when it considers appropriate. Generally, the
forward contracts mature within six month.

As at 31 December 2021 and 2020, the balances of financial assets and liabilities denominated in

foreign currencies are summarised below.
Financial assets Financial liabilities Average exchange rate

Foreign currency as at 31 December as at 31 December as at 31 December
2021 2020 2021 2020 2021 2020
(Million) (Million) (Million) (Million) (Baht per 1 foreign currency unit)
US dollar 4.62 1.90 47.00 24.23 33.4199 30.0371
Euro 3.01 0.82 0.25 0.10 37.8948 36.8764
New Taiwan dollar 0.01 0.01 0.26 0.26 1.2087 1.0690

Liquidity risk

The Company monitors the risk of a shortage of liquidity through the use of bank loans.
Approximately 100% of the Company’s debt will mature in less than one year at 31
December 2021 (2020: 100%) based on the carrying value of borrowings reflected in the financial
statements. The Company has assessed the concentration of risk with respect to refinancing its debt

and concluded it to be low. The Company has access to a sufficient variety of sources of funding.

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