Page 466 - 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

Separate financial statements
All associates were incorpo rated and mainly operate in Thailand, except for COL Vietnam Joint Stock Company

which was incorporated and mainly operates in Vietn am. (Charged) / credited to:
Other
comprehen-
All joint ventures were incorporated and mainly operate in Thailand, except for Morningbliss SD N. BHD and

sive nd Hong Kong, respectively.
At 1
Porto Worldwide Limited which were incorporated and mainly operates in Malaysia a At 3 1

Deferred tax January Profit or loss inco me Decem ber

(in million Baht)
None of the Group’s and the Company’s associates and joint ventures are publicly listed and consequently they

2021 do not have published price quotations.
Deferred tax assets

Trade and other current Consolidated

receivables 2 - - financial statements
2
Material movements
Non-current provisions for 2021 2020
for the year ended 31 December
employee benefits 15 (1) (1) 13
15
Total 17 (1) (1) (in million Baht)

Joint ventures
Acquisition share capital in Porto Worldwide Limited
Deferred tax liabilities 4,452 -

Increase in share capital in MUJI Retail (Thailand) Co., Ltd.
Fair value from business 70 20

combination (2) - - (2)
Total Investments in joint ventures (2) - - (2)
Net 15 (1) (1) 13
Acquisition
2020
In December

Deferred tax assets 2021, the Group acquired 133,545,740 shares, equivalent to 67% of share capital of Porto

Trade and other current
Worldwide Limited incorporated in Hong Kong for a consideration of Baht 4,452 million from a related
receivables 2 - - 2
party, which became a joint venture between the Group and Central Pattana Public Company Limited
Non-current provisions for
(CPN). The purpose of this joint venture is to invest 40% shareholding in Grabtaxi Holdings (Thailand)
employee benefits 14 1 - 15
Co., Ltd. The acquisition is in accordance with the obligations stipulated in the SPA which was approved
1

-

16
Total by the Board of Directors’ meeting of the Company on 10 December 2019 and the Shareholders’
17

meeting of the Company on 19 December 2019. Additional, in the future, Porto Worldwide Limited has
Deferred tax liabilities
the right to swap its shares, in part or entirety, in GrabTaxi Holdings (Thailand) Co., Ltd. with the Class
Fair value from business
A ordinary shares of Grab Holdings Limited which listed on the NASDAQ with the designated price
combination (1) - (1) (2)
Total within the specified period. (1) - (1) (2)
Net 15 1 (1) 15
Increase in share capital
Consolidated Separate
During 2021, the Group made additional investments in MUJI Retail (Thailand) Co., Ltd. to increase
Unrecognised deferred tax assets financial statements financial statements
share capital of 700,000 shares, amounting to Baht 70 million. 2021 2020

2020

2021
(in million Baht)
During 2020, the Group made additional investments in MUJI Retail (Thailand) Co., Ltd. to increase
Loss carry forward 2,363 2,051 856 915
share capital of 200,000 shares, amounting to Baht 20 million.

The deductible temporary differences do not expire under current tax legislation. Deferred tax assets have

not been recognised in respect of these items because it is not probable that future taxable profit will be
available against which the Group can utilise the benefits therefrom.

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