Page 52 - TYCONS - ANNUAL REPORT 2022

Tycoons Worldwide Group (Thailand) Plc.

4.3 Financial status

(1) Assets

Composition

As of December 31 2022, TYCN’s had total assets 6,255MB, decreased by 11.93% with
amount 847MB compared to 2021. The decrease in total assets was mainly attributable to
the decrease in inventories and depreciation of fixed assets.

Current assets of 2022 were 2,818MB decreased by 23.98%with amount 889MB compared
to 2021 mainly decrease due to decrease of inventory.

Non-current assets of 2022 was 3,437MB, increase by 1.24% with amount 42MB compared
to 2021, the reason was from investment-related companies

Quality of assets

Assets

At each reporting date, the Company performs impairment reviews in respect of the long-
term investment, properly, plant and equipment and other intangible assets whenever
events or changes in circumstances indicate that an asset may be impaired. An impairment
loss is recognized when the recoverable amount of an asset, which is the higher of the
asset’s fair value less costs to sell and its value in use, is less than the carrying amount.

Accounts receivable

As of December 31, 2022 accounts receivable amounted to 331MB, which could be

broken down into A/R of unrelated parties 313MB and A/R of related party 18MB. A/R
amounted to 444MB in 2021 which could be broken down into A/R of unrelated parties
342MB and A/ R from related party 102MB. The normal credit term granted by the
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.

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