PTT Global Chemical Public Company Limited and its Subsidiaries For the year ended 31 December 2023 PTT Global Chemical Public Company Limited and its Subsidiaries Notes to the financial statements For the year ended 31 December 2023 29 PTT Phenol Co., Ltd. GC Oxirane Co., Ltd. Total (in million Baht) Trade accounts payable (2,312) (617) (2,929) Accrued dividends (8,061) (718) (8,779) Short-term borrowings from related party - (12,780) (12,780) Lease liabilities (1,755) (1,694) (3,449) Provisions for employee benefits - (22) (22) Others (247) (127) (374) Total liabilities (12,375) (15,958) (28,333) Net carrying values of net assets acquired/ Net consideration transferred 13,066 7,574 20,640 Less Cash and cash equivalents (2,223) (2,957) (5,180) Net cash paid from transfers of businesses 10,843 4,617 15,460 Both subsidiaries had registered to dissolve the business with Department of Business Development, Ministry of Commerce on 31 March 2023. As at 31 December 2023, both subsidiaries are in the process of liquidation (Note 9). 5 Related parties A related party is a person or entity that has direct or indirect control or joint control, or has significant influence over the financial and managerial decision-making of the Group; a person or entity that is under common control or under the same significant influence as the Group; or a person or entity over which the Group has direct or indirect control or joint control or has significant influence over the financial and managerial decision-making. Relationships with parent, subsidiaries, associates and joint ventures are described in notes 1, 9 and 10. Other related parties which the Group had significant transactions with during the year were as follows: Name of entities Country of incorporation Nature of relationships Vencorex (Thailand) Co., Ltd. Thailand Indirect subsidiary, 100% shareholding by indirect subsidiary NPC S&E Security Guard Co., Ltd. Thailand Indirect subsidiary, 100% shareholding by the Group Allnex (Thailand) Ltd. Thailand Indirect subsidiary, 94.96% shareholding by the Group Allnex Austria GmbH Austria Indirect subsidiary, 100% shareholding by the Group Allnex Belgium SA/NV Belgium Indirect subsidiary, 100% shareholding by the Group Allnex Malaysia Sdn Bhd Malaysia Indirect subsidiary, 100% shareholding by the Group Allnex Resins Australia Pty. Ltd. Australia Indirect subsidiary, 100% shareholding by the Group GC International Corporation United States of America Indirect subsidiary, 100% shareholding by the Group GC Marketing Solutions (Shanghai) Co., Ltd. China Indirect subsidiary, 100% shareholding by the Group GC Marketing Solutions Myanmar Co., Ltd. Myanmar Indirect subsidiary, 100% shareholding by the Group GC Marketing Solutions Vietnam Co., Ltd. Vietnam Indirect subsidiary, 100% shareholding by the Group 273 PTT GLOBAL CHEMICAL PUBLIC COMPANY LIMITED Form 56-1 One Report 2023
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