Page 53 - TYCONS - ANNUAL REPORT 2022

Tycoons Worldwide Group (Thailand) Plc.

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

Unit: MB
Dec 31, 2022 Dec 31, 2021
Inter- company A/R 18 102
A/R –unrelated parties 313 342

Total A/R 331 444
Aging of A/R-unrelated parties
Past due 110 143
Up to 3 months 182 174
3 months up to 6 months 0 0
6 months up to 12 months 0 0
Over 12 months 21 26
Sub-total 313 342
Less Allowance for doubtful A/C 21 (31)
Total A/R - net 310 413

Accounts Receivable turnover has been increased from 21.70 times of year 2021
to 25.61 times of year 2022. The main reason is that the increase in sales revenue in 2022
is greater than the increase in average accounts receivable, resulted in A/R collection period
decreasing 2.53 days from 16.59 days of year 2021 to 14.06 days of year 2022.

(2) Liquidity

Cash flow

TYCN had a net decrease in cash and cash equivalents at year-end 2022 of 56MB. Cash
and cash equivalents at the end of 2022 amounted 408MB the change in cash flow amount
was due to:
Net cash flow from operating 879 MB
Net cash flow from investing (375) MB
Net cash flow from financing (561) MB
Net in cash (57) MB

Net cash flow from operating activities was 879MB, mostly due to the decrease in
inventories and accounts receivable decreased.
Net cash flow from investing was (375) MB mainly because invests in related associates
company investment.
Net cash flow from financing was (561) MB mainly because repayment of bank loans.

Liquidity ratios
The Company’s current ratio has been increasing standing at 1.67 and 1.43 in the years
2022 and 2021 respectively, because of the increase in revenue in 2022 resulted no
significant difference.

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