Page 427 - CRC_One Report 2021_EN

Business Overview and Performance Corporate Governance Financial Statements Enclosure
Central Retail Corporation Public Company Limited and its Subsidiaries
Notes to the financial statements
For the year ended 31 December 2021

CR Udorn Thani (Thailand) Co., Ltd.

In July 2020, the Group acquired an additional 24% interest in CR Udorn Thani (Thailand) Co., Ltd. for
Baht 77 million in cash, increasing its ownership interest from 75% to 99%. The carrying amount of
CR Udorn Thani (Thailand) Co., Ltd.’s net assets in the Group’s financial statements on the date of the
acquisition was Baht 347 million. The Group recognised a decrease in non-controlling interests of Baht
83 million, an increase in difference arising from acquiring of non-controlling interests of Baht 6 million
and decrease in other components of equity of Baht 0.4 million attributable to owners of the Group of
Baht 6 million of changes in the Group’s ownership interest in CR Udorn Thani (Thailand) Co., Ltd.

7 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 are
under common control or under the same significant influence as the Group; or the Group has direct or
indirect control or joint control or has significant influence over the financial and managerial decision-
making of a person or entity.

Relationships with subsidiaries, associates and joint ventures are described in notes 1, 12 and 13. Other
related parties that the Group had significant transactions with during the year were as follows:

Name of entities Country of Nature of relationships
incorporation
/ nationality
Key management personnel Thai Persons having authority and
responsibility for planning,
directing and controlling the
activities of the entity, directly or
indirectly, including any director
(whether executive or otherwise)
of the Group
Harng Central Department Store Co., Ltd. Thailand Parent, 35% of shareholding and
some common directors
Baby Kiko Sdn. Bhd. Malaysia Common parent
CGE Investment Limited United Common parent
Kingdom
Dining Zensation Limited Thailand Common parent
Illum A/S Denmark Common parent
Lagrange Estate Italy Common parent
PT Central Retail Indonesia Indonesia Common parent
Rina Estate Italia S.r.l. Italy Common parent
The Kadewe Group Holding GmbH Germany Common parent
Bangna Department Store Co., Ltd. Thailand Some common directors
Bangna Central Property Co., Ltd. Thailand Some common directors
C.D.S. Restaurant Co., Ltd. Thailand Some common directors
Centara Import-Export Co., Ltd. Thailand Some common directors
Central Condominium Co., Ltd. Thailand Some common directors
Central Food Retail Ratchada Co., Ltd. Thailand Some common directors
Central Embassy Hotel Co., Ltd. Thailand Some common directors
Central Garment Factory Co., Ltd. Thailand Some common directors
Central Holding Co., Ltd. Thailand Some common directors
Central Insurance Services Limited Thailand Some common directors
Central Inter Pattana Co., Ltd. Thailand Some common directors
Central JD Commerce Co., Ltd. Thailand Some common directors
Central JD Money Co., Ltd. Thailand Some common directors

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Annual Report 2021 (Form 56-1 One-Report) 427