Page 127 - TYCONS - ANNUAL REPORT 2022

Tycoons Worldwide Group (Thailand) Plc.

The normal credit term is 7 to 60 days.
Set out below is the movement in the allowance for expected credit losses of trade

receivables.
(Unit: Thousand Baht)
Consolidated/Separate

financial statements
2022 2021
Beginning balance 31,118 49,137
Reversal of provision for expected credit losses (4,828) (10,017)

Bad debt - (2,602)
Amount recovered (5,115) (5,400)
Ending balance 21,175 31,118

9. Inventories
(Unit: Thousand Baht)

Consolidated/Separate financial statements
Reduce cost to

Cost net realisable value Inventories - net
2022 2021 2022 2021 2022 2021
Raw materials 378,811 1,098,325 (5,895) (2,702) 372,916 1,095,623

Work in process 320,915 312,478 (1,055) (4,147) 319,860 308,331
Finished goods 440,101 743,522 (22,628) (7,662) 417,473 735,860

Spare parts, factory
supplies and scrap 364,581 349,003 (746) (40) 363,835 348,963
Goods in transit 516,807 199,777 (1,507) (154) 515,300 199,623

Total 2,021,215 2,703,105 (31,831) (14,705) 1,989,384 2,688,400

During the current year, the Company reduced cost of inventories by Baht 64 million (2021:
Baht 14 million), to reflect the net realisable value. This was included in cost of sales. In
addition, the Company reversed the write-down of cost of inventories by Baht 47 million

(2021: Baht 50 million), and reduced the amount of inventories recognised as expenses
during the year.

10. Restricted bank deposits

These represent fixed deposits pledged with the banks to secure credit facilities that
carried interests between 0.15 and 0.70 percent per annum (2021: between 0.15 and 0.50

percent per annum).

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