Page 429 - CRC_One Report 2021_EN

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

Significant transactions with Consolidated Separate
All associates were incorporated and mainly operate in Thailand, except for COL Vietnam Joint Stock Company
which was incorporated and mainly operates in Vietnam.
related parties financial statements financial statements

Year ended 31 December 2021 2020 2021 2020
All joint ventures were incorporated and mainly operate in Thailand, except for Morningbliss SDN. BHD and

(in million Baht)
Porto Worldwide Limited which were incorporated and mainly operates in Malaysia and Hong Kong, respectively.
Parent

Rental and service income 27 24 - -
None of the Group’s and the Company’s associates and joint ventures are publicly listed and consequently they
Revenue from sales of goods 6 1 - -
do not have published price quotations.
Other income 11 23 1 -

Purchases of goods or receiving of Consolidated

services 4 1 - -
financial statements
Material movements
-
Interest expense 82 82 - 2020
2021
for the year ended 31 December
Lease-related expense 27 36 - (in million Baht)

-

Sales promotion expenses - 4 - -

Joint ventures
15
Management fee expense 748 676 322 -
4,452
Acquisition share capital in Porto Worldwide Limited
1
Other expenses 184 182 1 20
Increase in share capital in MUJI Retail (Thailand) Co., Ltd.
70

Subsidiaries
Investments in joint ventures
Dividend income - - 193 3,213

Royalty income - - 302 275
Acquisition
Interest income - - 398 496

Management fee income - - 1,513 976
In December 2021, the Group acquired 133,545,740 shares, equivalent to 67% of share capital of Porto
Other income - - 27 21
Worldwide Limited incorporated in Hong Kong for a consideration of Baht 4,452 million from a related
Interest expense - - 36 60
party, which became a joint venture between the Group and Central Pattana Public Company Limited
Lease-related expense - - 7 3
(CPN). The purpose of this joint venture is to invest 40% shareholding in Grabtaxi Holdings (Thailand)
Other expenses - - 10 16
Co., Ltd. The acquisition is in accordance with the obligations stipulated in the SPA which was approved

by the Board of Directors’ meeting of the Company on 10 December 2019 and the Shareholders’
Associates
meeting of the Company on 19 December 2019. Additional, in the future, Porto Worldwide Limited has
Rental and service income 117 123 - -
the right to swap its shares, in part or entirety, in GrabTaxi Holdings (Thailand) Co., Ltd. with the Class
Dividend income 214 95 173 90
A ordinary shares of Grab Holdings Limited which listed on the NASDAQ with the designated price
Other income 138 74 - -
within the specified period.

Joint ventures
Increase in share capital
Rental and service income 99 104 - -

Management fee income 67 72 - 1
During 2021, the Group made additional investments in MUJI Retail (Thailand) Co., Ltd. to increase
Dividend income 58 - - -
share capital of 700,000 shares, amounting to Baht 70 million.
Interest income 2 2 - -

Other income 21 13 - -
During 2020, the Group made additional investments in MUJI Retail (Thailand) Co., Ltd. to increase
Lease-related expense - 3 - -
share capital of 200,000 shares, amounting to Baht 20 million.
Other expenses 8 - - -

Other related parties
Rental and service income 336 533 - -
Revenue from sales of goods 112 246 - -
Sales promotion income 6 6 - -
Utility income 45 59 - -
Management fee income 72 173 - 1
Interest income 72 73 - -
Gain on disposal fixed assets 76 11 - -
Royalty income 1 17 1 17
Other income 117 212 3 2
Purchases of goods or receiving of
services 91 155 - -
Interest expense 339 404 - -
Lease-related expense 253 409 3 7
Sales promotion expense 57 90 - -
39 48
Annual Report 2021 (Form 56-1 One-Report) 429