Page 440 - 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
Notes to the financial statements
For the year ended 31 December 2021
For the year ended 31 December 2021

Material movements for the year 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.
ended 31 December 2021 financial statements
(in million Baht)

All joint ventures were incorporated and mainly operate in Thailand, except for Morningbliss SDN. BHD and
Subsidiaries
Porto Worldwide Limited which were incorporated and mainly operates in Malaysia and Hong Kong, respectively.
Increase in share capital in Quinam B.V. 2,528

Increase in share capital in PBHD Co., Ltd. 11,025
None of the Group’s and the Company’s associates and joint ventures are publicly listed and consequently they
Increase in share capital in Hillborough Group Ltd. 197
do not have published price quotations.

Acquisitions Consolidated

Material movements financial statements
In February 2021, the Group’s equity interest in COL Vietnam Joint Stock Company increased from

2020
for the year ended 31 December
2021
48.68% to 99.55% and it became a subsidiary of the Group through acquisition of COL Public Company

(in million Baht)
Limited (see note 6).
Joint ventures
Acquisition share capital in Porto Worldwide Limited 4,452 -
During 2020, the Company made an additional investment in Robinson Public Company Limited by

20
Increase in share capital in MUJI Retail (Thailand) Co., Ltd.
70
shares swap, amounting to Baht 32,916 million (see note 24).

Investments in joint ventures
During 2020, the Company made a new investment in Central Pet and Me Limited., amounting to Baht 100.

Acquisition
During 2020, the Company made an additional investment in Quinam B.V.by converting intercompany

receivables amounting to Baht 269 million, consisting of short-term loans amounting to Baht 245
In December 2021, the Group acquired 133,545,740 shares, equivalent to 67% of share capital of Porto
million and other current receivables amounting to Baht 24 million, into an investment in subsidiary.
Worldwide Limited incorporated in Hong Kong for a consideration of Baht 4,452 million from a related
party, which became a joint venture between the Group and Central Pattana Public Company Limited
Increase in share capital
(CPN). The purpose of this joint venture is to invest 40% shareholding in Grabtaxi Holdings (Thailand)
Co., Ltd. The acquisition is in accordance with the obligations stipulated in the SPA which was approved
During 2021, the Company increase in share capital of Quinam B.V. of 1,150 shares, amounting to Baht
by the Board of Directors’ meeting of the Company on 10 December 2019 and the Shareholders’
meeting of the Company on 19 December 2019. Additional, in the future, Porto Worldwide Limited has
2,528 million, as a result, the Company’s equity interest increased from 0.69% to 6.61%.
the right to swap its shares, in part or entirety, in GrabTaxi Holdings (Thailand) Co., Ltd. with the Class
During 2021, the Company increase in share capital of PBHD Co., Ltd. of 110,250,000 shares,
A ordinary shares of Grab Holdings Limited which listed on the NASDAQ with the designated price
within the specified period.
amounting to Baht 11,025 million.

During 2021, the Company increase in share capital of Hillborough Group Ltd. of 580,000 shares,
Increase in share capital
amounting to Baht 197 million.

During 2021, the Group made additional investments in MUJI Retail (Thailand) Co., Ltd. to increase
share capital of 700,000 shares, amounting to Baht 70 million.
During 2020, the Company made payments for the increase in share capital of Capital C Limited of

11,120 shares, amounting to Baht 13,000 million.
During 2020, the Group made additional investments in MUJI Retail (Thailand) Co., Ltd. to increase
share capital of 200,000 shares, amounting to Baht 20 million.
During 2020, SFM Holding Company Limited issued share capital of 13,693,560 shares to the Company
and Central Food Retail Co., Ltd. (100% indirectly owned by the Company), amounting to Baht 15

million and Baht 1,354 million respectively, as a result, the decreasing in the Company's direct
ownership interest from 99.99% to 25.00% without effective change in the Group’s ownership interest.

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