PTT GLOBAL CHEMICAL PUBLIC COMPANY LIMITED AND SUBSIDIARIES FOR THE YEAR ENDED DECEMBER 31, 2021 NOTES TO THE FINANCIAL STATEMENTS - 28 - On July 22, 2019, the Board of Directors’ Meeting of the Company approved to establish ENVICCO as a subsidiary in which share capital held by the Company as 70% and ALPHA TH Recyclingbeteiligungsgesellschaft m.b.H. as 30%. The purpose of ENVICCO is for conducting a Recycled Plastic Project. On February 3, 2020, ENVICCO registered the establishment with registered capital of 1,000 shares at Baht 100 per share amounting to Baht 0.10 million and called for paid-up capital of 1,000 shares at Baht 25 per share, totalling Baht 25,000 from the Company. Subsequently on February 20, 2020, ENVICCO registered for capital increase totalling 10,799,000 shares at Baht 100 per share amounting to Baht 1,079.90 million, in which the ENVICCO’s registered capital increased from the original registered capital amounting to Baht 0.10 million to a new registered capital amounting to Baht 1,080 million, and called for paid-up capital of 25% of registered capital amounting to Baht 270 million from the shareholders, of which fully received amounting to Baht 189 million from the Company in March 2020. PTTGC America Corporation During the year ended December 31, 2021, PTTGC America Corporation has called for paid-up capital from the capital increase by the Board of Directors’ Meeting of the subsidiary held on January 12, 2021 for the purpose of US Petrochemical Complex Project investment totalling at USD 3.56 million or equivalent to Baht 113.32 million, of which fully received during the year ended December 31, 2021. During the year ended December 31, 2020, PTTGC America Corporation has called for paid-up capital from the capital increase by the Board of Directors’ Meeting of the subsidiary held on July 15, 2016 and September 15, 2020 for the purpose of US Petrochemical Complex Project investment totalling at USD 20.84 million or equivalent to Baht 651.18 million, of which fully received during the year ended December 31, 2020. PTTGC International Private Limited During the year ended December 31, 2021, PTTGC International Private Limited has called for paid-up capital from the capital increase by the Board of Directors’ Meeting of the subsidiary held on July 1, 2021 for the purpose of corporate operation and investment in PTTGC International (Netherlands) B.V. totalling at EUR 831 million or equivalent to Baht 31,819.41 million, and the Board of Directors’ Meeting of the subsidiary held on August 17, 2021 for investment in Emery Oleochemicals UK Limited at USD 39.50 million or equivalent to Baht 1,342.33 million, of which fully received during the year ended December 31, 2021. Impairment loss on investment in a subsidiary GC Ventures Co., Ltd. During the year ended December 31, 2021, the Company recognised impairment loss on the investment in GC Ventures Co., Ltd. at Baht 36.19 million in the separate statements of profit or loss as the recoverable amount of investment in Arevo Inc., an investment in financial asset at fair value through other comprehensive income of the Group, was less than its carrying amount. PTTGC International Private Limited During the year ended December 31, 2021, the Company recognised impairment loss on the investment in PTTGC International Private Limited at Baht 3,817.37 million in reversal of (expenses from) impairment losses on assets in the separate statements of profit or loss as the recoverable amounts of investments in Emery Oleochemicals (M) Sdn. Bhd. and Emery Specialty Chemicals Sdn. Bhd., indirect joint ventures of the Group, were less than their carrying amounts. 260 PTT GLOBAL CHEMICAL PUBLIC COMPANY LIMITED Form 56-1 One Report 2021
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