Page 454 - 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

which will be expired in December 2029. Interest was charged at rates from 1.35% to 5.85% per annum
(2020: 2.01% to 6.00% per annum). The loans are guaranteed by its subsidiaries. Accordingly, the
Group must comply with the conditions outlined in the agreements e.g. maintain the ratios of liabilities
to equity, maintain the ratios of shareholding of investments in certain subsidiaries.

As at 31 December 2021, the Company had short-term loans from financial institutions representing
promissory notes repayable within 2022. Interests was charged at rates from 0.70% to 1.18% per annum
(2020: 0.75% to 1.78% per annum).

As at 31 December 2021, the Company had long-term loan agreements with local financial institutions,
which were repayable as stipulated in the agreements which will be expired in 2024. Interest was
charged at rates from 1.90% to 2.12% per annum (2020 : 2.01% to 2.50% per annum). The loans are
guaranteed by a subsidiary. Accordingly, the Company must comply with the conditions outlined in the
agreements e.g. maintain the ratios of liabilities to equity, maintain the ratios of net debt to EBITDA.

22 Other current payables

Consolidated Separate
financial statements financial statements
2021 2020 2021 2020
(in million Baht)
Rental and service payable 4,153 4,125 15 16
Accrued operating expenses 6,204 4,980 58 41
Accrued other tax expense 2,101 2,369 44 35
Deposits and advances received 1,955 1,744 - -
Payable for purchase of assets 2,135 1,889 2 2
Accrued bonus 1,056 857 93 80
Payable for acquisition of subsidiaries 66 359 - -
Others 158 160 51 45
Total 17,828 16,483 263 219

23 Non-current provisions for employee benefits

Consolidated Separate
At 31 December financial statements financial statements
2021 2020 2021 2020
(in million Baht)
Defined benefit plan 2,213 2,228 102 113

Termination benefits 96 - - -

Total 2,309 2,228 102 113

Defined benefit plan
The Group and the Company operate a defined benefit plan based on the requirements of the Thai Labor
Protection Act B.E 2541 (1998) to provide retirement benefits to employees based on pensionable
remuneration and length of service. The defined benefit plans expose the Group to actuarial risks, such
as longevity risk, currency risk, interest rate risk and market (investment) risk.

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