Page 50 - One Report Thai Final_ENG_2021

Tycoons Worldwide Group (Thailand) Plc.

Company for related parties is 30-180 days while credit term for other parties varies from
10 - 105 days. New clients as well as customers whose payments are overdue will be

subject to make a payment equal to a certain percentage of the purchase amount before
shipment.

Further details regarding the aging of accounts receivable are as set out below:

Unit: MB
Dec 31, 2021 Dec 31, 2020
Inter- company A/R 102 107
A/R –unrelated parties 342 351
Total A/R 444 458
Aging of A/R-unrelated parties
Past due 143 126
Up to 3 months 174 170
3 months up to 6 months 0 0
6 months up to 12 months 0 4
Over 12 months 26 51
Sub-total 342 351
Less Allowance for doubtful A/C (31) (49)
Total A/R - net 413 409

Accounts Receivable turnover has been increased from 11.19 times of year 2020
to 21.70 times of year 2021. The main reason is that the increase in sales revenue in 2021
is greater than the increase in average accounts receivable, resulted in A/R collection period
decreasing 15.59 days from 32.18 days of year 2020 to 16.59 days of year 2021.

(2) Liquidity

Cash flow

TYCN had a net increase in cash and cash equivalents at year-end 2021 of 304MB. Cash
and cash equivalents at the end of 2021 amounted 465MB the change in cash flow amount
was due to:
Net cash flow from operating (87) MB
Net cash flow from investing (444) MB
Net cash flow from financing 835 MB
Net increase in cash 304 MB
Net cash flow from operating activities was (87)MB, mostly due to the decrease in
prepayments from customers and the increase in inventories.
Net cash flow from investing was 444MB mainly because of the increase in acquisition of
lands and related associates company investment.
Net cash flow from financing was 835MB mainly because of increase in short-term loans.

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