Page 132 - TYCONS - ANNUAL REPORT 2022

Tycoons Worldwide Group (Thailand) Plc.

The fair value has been determined based on valuation performed by an independent
valuer, using market approach.

14. Property, plant and equipment
(Unit: Thousand Baht)
Consolidated/Separate financial statements
Building and Furniture and Assets under
Land and land attached Machinery and office installation and
improvement facilities equipment Motor vehicles equipment construction Total
Cost
1 January 2021 590,614 1,817,281 5,409,400 295,854 64,705 185,402 8,363,256
Additions 20,645 5,781 36,233 10,233 1,434 356 74,682
Disposals/write-off - (1,856) (48,386) (19,780) (788) - (70,810)
Transfers in (out) - 13,849 9,634 1,684 - (25,167) -
31 December 2021 611,259 1,835,055 5,406,881 287,991 65,351 160,591 8,367,128
Additions 9,627 13,012 25,609 4,527 9,719 1,601 64,095
Disposals/write-off - (70,833) (115,903) (28,611) (1,555) (158,555) (375,457)
31 December 2022 620,886 1,777,234 5,316,587 263,907 73,515 3,637 8,055,766
Accumulated depreciation
1 January 2021 91,254 1,216,613 3,204,013 285,254 60,094 - 4,857,228
Depreciation for the year 5,473 63,978 185,707 4,958 2,229 - 262,345
Depreciation on disposals/write-off - (1,230) (39,913) (19,780) (788) - (61,711)
31 December 2021 96,727 1,279,361 3,349,807 270,432 61,535 - 5,057,862
Depreciation for the year 5,528 71,278 156,033 5,799 2,016 - 240,654
Depreciation on disposals/write-off - (31,657) (43,281) (28,589) (1,539) - (105,066)
31 December 2022 102,255 1,318,982 3,462,559 247,642 62,012 - 5,193,450
Allowance for impairment loss
1 January 2021 - 55,690 361,862 - - - 417,552
Increase during the year - - 69,082 - - 158,555 227,637
31 December 2021 - 55,690 430,944 - - 158,555 645,189
Increase during the year - - 643 - - - 643
Reverse - (16,317) - - - - (16,317)
Decrease during the year - (38,400) (69,082) - - (158,555) (266,037)
31 December 2022 - 973 362,505 - - - 363,478
Net book value
31 December 2021 514,532 500,004 1,626,130 17,559 3,816 2,036 2,664,077
31 December 2022 518,631 457,279 1,491,523 16,265 11,503 3,637 2,498,838
Depreciation for the year
2021 (Baht 245 million included in manufacturing cost, and the balance in selling and administrative expenses) 262,345
2022 (Baht 218 million included in manufacturing cost, and the balance in selling and administrative expenses) 240,654

As at 31 December 2022, certain items of plant and equipment were fully depreciated but
are still in use. The gross carrying amount before deducting accumulated depreciation and

allowance for impairment loss of those assets amounted to approximately Baht 1,794
million (2021: Baht 1,797 million).

The Company has mortgaged most of its property, plant and machinery with banks as
collateral against credit facilities granted by commercial banks.

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