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 57 Impairment loss on investment in an associate PTT Energy Solutions Co., Ltd. During the year ended 31 December 2023, the Company recognised a reversal of impairment loss on the investment in PTT Energy Solutions Co., Ltd. (“PTTES”), a direct associate of the Group, totalling Baht 0.92 million in the consolidated statement of income, as the Company considered that the value of such investment at equity method in the consolidated financial statements has increased. During the year ended 31 December 2022, the Company recognised an impairment loss on the investment in PTT Energy Solutions Co., Ltd. (“PTTES”), a direct associate of the Group, totalling Baht 2.61 million and Baht 11.40 million in the consolidated and separate statements of income, respectively, as the Company considered that the recoverable amount of such investment was less than investment at equity method in the consolidated financial statements and its carrying amount in the separate financial statements according to the dissolution of PTTES. Material joint ventures and associates The following table summarises the financial information of the material joint ventures and associates as included in their own financial statements, adjusted for fair value adjustments at acquisition and differences in accounting policies. The table also reconciles the summarised financial information to the carrying amount of the Group’s interest in these companies. PTT Asahi Chemical Co., Ltd. HMC Polymers Co., Ltd. 2023 2022 2023 2022 (in million Baht) For the years ended 31 December Statement of income Revenue 10,649 14,596 25,100 32,557 Loss from continuing operations (2,028) (1,185) (4,332) (1,628) Other comprehensive income (loss) (7) 15 (761) (990) Total comprehensive income (loss) (100%) (2,035) (1,170) (5,093) (2,618) As at 31 December Statement of financial position Current assets 4,802 4,397 7,617 9,100 Non-current assets 21,181 22,545 30,748 32,733 Current liabilities (2,516) (1,740) (5,109) (5,714) Non-current liabilities (4,568) (4,269) (17,226) (14,996) Net assets (100%) 18,899 20,933 16,030 21,123 Group’s share of net assets 9,449 10,467 6,643 8,753 Goodwill - - 3,038 3,038 Carrying amount of interest in joint ventures 9,449 10,467 9,681 11,791 Remark: Cash and cash equivalents 994 1,227 1,103 1,434 Depreciation and amortisation 1,538 1,337 2,062 1,559 301 PTT GLOBAL CHEMICAL PUBLIC COMPANY LIMITED Form 56-1 One Report 2023
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