Page 133 - TYCONS - ANNUAL REPORT 2022

Tycoons Worldwide Group (Thailand) Plc.

15. Other non-current financial assets
(Unit: Thousand Baht)
Consolidated financial statements/
Separate financial statements

2022 2021
Equity instruments designated at FVOCI
Non-listed equity instruments

Thai Union Fasteners Company Limited 67,563 67,777
TY Steel Company Limited 364,918 153,861
Total other non-current financial assets 432,481 221,638

Equity instruments designated at FVOCI include non-listed equity investments which the
Group considers these investments to be strategic in nature.

The Company changed the classification of investment in TY Steel Co. , Ltd. from
“Investment in associate” to “Equity investments designated at fair value through other
comprehensive income” as described in Note 12 to the financial statements.

Details of changes in equity instruments of TY Steel Company Limited
a) On 14 December 2021, the Company’s Board of Directors Meeting passed a resolution

approving the acquisition of shares for capital increase in TY Steel Company Limited,
whereby TY Steel Co. , Ltd. increased its share capital from Baht 947,500,000
( 94,750,000 ordinary shares with a par value of Baht 10 per share) to be Baht
1,947,500,000 (194,750,000 ordinary shares with a par value of Baht 10 per share)
through issuance of new ordinary shares of Baht 1,000,000,000 (100,000,000 ordinary

shares with a par value of Baht 10 per share). The Company purchased 19,270,000
ordinary shares of the additionally issued ordinary shares and made full payment
amounting to Baht 193 million. The Company presented this as “Advance payment for
share subscription” as of 31 December 2021.

TY Steel Co., Ltd. registered the share capital increase with the Ministry of Commerce
on 5 January 2022

b) On 10 May 2022, the Company’s Board of Directors Meeting passed a resolution
approving the acquisition of shares for capital increase in TY Steel Company Limited,
whereby TY Steel Co. , Ltd. increased its share capital from Baht 1,947,500,000

(194,750,000 ordinary shares with a par value of Baht 10 per share) to be Baht
2,724,492,000 (272,449,200 ordinary shares with a par value of Baht 10 per share)
through issuance of new ordinary shares of Baht 776,992,000 (77,699,200 ordinary
shares with a par value of Baht 10 per share). The Company purchased 15,417,600

ordinary shares of the additionally issued ordinary shares and made full payment

119