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 67 Security As at 31 December 2023, property, plant and equipment of the Group with net book value of Baht 8,554 million (2022: Baht 9,358 million) were registered to secured a loans from financial institutions (see Note 17). In addition, a subsidiary pledged bank accounts and various rights to the financial institutions. Thus, bank deposits placed as collateral can be withdrawn in accordance with the objectives and conditions specified in the loan agreement. Capitalised borrowing costs relating to the construction of a new factory for the Group and the Company amounted to Baht 121 million and Baht 30 million, respectively (2022: Baht 104 million and Baht 32 million), with capitalisation rates of 2.90% to 7.00% per annum and 3.50% per annum, respectively (2022: 2.63% to 4.00% per annum and 3.50% per annum). 14 Leases Right-of-use assets Consolidated financial statements Separate financial statements As at 31 December 2023 2022 2023 2022 (in million Baht) Land and land improvement 8,243 8,178 5,873 6,267 Plant, machinery, equipment and factory tools 15,116 15,281 13,209 10,371 Buildings and buildings improvement 1,260 1,343 45 110 Furniture, fixtures and equipment 252 151 65 87 Vehicles 604 664 291 323 Total 25,475 25,617 19,483 17,158 In 2023, additions to the right-of-use assets of the Group and the Company were Baht 2,357 million and Baht 4,627 million, respectively (2022: Baht 17,087 million and Baht 11,241 million, respectively). The Group leases a number of plots of land and land improvement for 2 to 96 years, with extension options at the end of the lease terms. Extension options The Group has extension options on property leases exercisable up to one year before the end of the contract period. The Group assesses at lease commencement date whether it is reasonably certain to exercise the extension options and will regularly reassess so. 311 PTT GLOBAL CHEMICAL PUBLIC COMPANY LIMITED Form 56-1 One Report 2023
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