Page 430 - 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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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

(in million Baht)
All joint ventures were incorporated and mainly operate in Thailand, except for Morningbliss SDN. BHD and

Porto Worldwide Limited which were incorporated and mainly operates in Malaysia and Hong Kong, respectively.
Other related parties (Con’t)

Utility expenses 521 540 - -
None of the Group’s and the Company’s associates and joint ventures are publicly listed and consequently they
Management fee expense 183 176 - -
do not have published price quotations.
Other expenses 230 213 6 3

Consolidated

Key management personnel financial statements

Material movements
Short-term employee benefits 2,191 1,692 393 297
2021
2020
for the year ended 31 December
Post-employment benefits 80 61 24 (in million Baht)
13
Termination benefits 1 5 - -
Joint ventures
Acquisition share capital in Porto Worldwide Limited 4,452 -
Balances as at 31 December with related parties were as follows: 70 20
Increase in share capital in MUJI Retail (Thailand) Co., Ltd.

Investments in joint ventures Consolidated Separate
financial statements financial statements

Acquisition 2021 2020 2021 2020
(in million Baht)
Trade receivables
In December 2021, the Group acquired 133,545,740 shares, equivalent to 67% of share capital of Porto
-
4
Parent Worldwide Limited incorporated in Hong Kong for a consideration of Baht 4,452 million from a related
-
5
Subsidiaries - - 116 126
party, which became a joint venture between the Group and Central Pattana Public Company Limited
Associates 7 8 - -
(CPN). The purpose of this joint venture is to invest 40% shareholding in Grabtaxi Holdings (Thailand)
Joint ventures 16 12 - -
Co., Ltd. The acquisition is in accordance with the obligations stipulated in the SPA which was approved
Other related parties 168 255 4 4
by the Board of Directors’ meeting of the Company on 10 December 2019 and the Shareholders’
279
130
120
meeting of the Company on 19 December 2019. Additional, in the future, Porto Worldwide Limited has
196
Less allowance for expected credit loss (4) (4) (4) (4)
the right to swap its shares, in part or entirety, in GrabTaxi Holdings (Thailand) Co., Ltd. with the Class
116
275
126
Net A ordinary shares of Grab Holdings Limited which listed on the NASDAQ with the designated price
192
within the specified period.
Other current receivables
Parent Increase in share capital 10 2 - -
Subsidiaries - - 110 95

Associates 64 2 - -
During 2021, the Group made additional investments in MUJI Retail (Thailand) Co., Ltd. to increase
Joint ventures 10 9 - -
share capital of 700,000 shares, amounting to Baht 70 million.
Other related parties 294 319 3 2

113
97
378
During 2020, the Group made additional investments in MUJI Retail (Thailand) Co., Ltd. to increase
332
Less allowance for expected credit loss - - - -
share capital of 200,000 shares, amounting to Baht 20 million.
Net 378 332 113 97

Short term loans

Subsidiaries - - 21,391 23,423
Joint ventures 142 42 - -

142 42 21,391 23423

Less allowance for expected credit loss - - - -

Net 142 42 21,391 23,423

Expected credit losses
for the year ended 31 December
Trade receivables - (4) - (2)
Other current receivables - - - (3)

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