- 30 - Investments in joint ventures as at December 31, 2021 and 2020, and dividend income for the years ended December 31, 2021 and 2020 were as follows: Unit : Million Baht Consolidated financial statements Ownership Interest (%) Paid-up capital Cost Equity method Impairment Equity method - net Dividend income Note 2021 2020 2021 2020 2021 2020 2021 2020 2021 2020 2021 2020 2021 2020 Direct joint ventures PTT Asahi Chemical Co., Ltd. 50 50 13,819 13,819 996 996 11,802 10,449 - - 11,802 10,449 - - PTT MCC Biochem Co., Ltd. 50 50 1,860 1,860 160 160 242 160 - - 242 160 - - HMC Polymers Co., Ltd. 41 41 3,790 3,790 14,217 14,217 13,001 12,624 - - 13,001 12,624 828 289 15,373 15,373 25,045 23,233 - - 25,045 23,233 828 289 Indirect joint ventures Thai Ethoxylate Co., Ltd. 50 50 420 420 210 210 647 602 - - 647 602 91 66 Emery Oleochemicals (M) Sdn. Bhd. - 50 - 4,530 - 4,966 - 4,398 - - - 4,398 - - Emery Specialty Chemicals Sdn. Bhd. - 50 - 818 - 407 - - - - - - - - Nature Works LLC 50 50 43,167 43,167 4,793 4,793 4,025 3,033 - - 4,025 3,033 - 1,245 GGC KTIS Bioindustrial Company Limited 50 50 2,618 2,093 1,309 1,046 1,232 1,021 - - 1,232 1,021 - - Revolve Group Limited 49 49 3 3 270 270 273 250 - - 273 250 - - Emery Oleochemicals UK Limited 50 - 140 - 2,141 - 2,385 - - - 2,385 - - - Entis Co., Ltd. 4 50 - - - 203 - 203 - - - 203 - - - Synthese (Thailand) Co., Ltd. 4 48 - 100 - 519 - 519 - - - 519 - - - 9,445 11,692 9,284 9,304 - - 9,284 9,304 91 1,311 Total investments in joint ventures 24,818 27,065 34,329 32,537 - - 34,329 32,537 919 1,600 PTT GLOBAL CHEMICAL PUBLIC COMPANY LIMITED AND SUBSIDIARIES FOR THE YEAR ENDED DECEMBER 31, 2021 NOTES TO THE FINANCIAL STATEMENTS PTT GLOBAL CHEMICAL PUBLIC COMPANY LIMITED Form 56-1 One Report 2021 262
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