the adoption of the financial reporting standards regarding Financial tools for accounting, hedging and derivative accounting with the amount of 4.62 million baht and allowance for loss of trade and
retrospective method of initial adoption of which the cumulative effect is recognized as an adjustment to the retained earnings as at 1 January 2020, and the comparative information was not restated in Note 2 to
adoption. Investments in associates increased by 1,989.2 million baht, mainly from an investment in associated company, U-Tapao International Aviation Company Limited during the period. Property, Plant
million or 0.44% from end of 2019, mainly due to adopted TFRS9, TFRS 16 using the modified retrospective method of initial adoption of which the cumulative effect is recognized as an adjustment to the
as of 30th June 2020, which grew by 1% from THB 2,600 million as of 31st December 2019. The increase in the assets was largely due to the first-time adoption of Thai Financial Reporting Standards (TFRS
order to reduce commercial banks’burdens when assisting customers during the Covid-19 pandemic. The adoption of TFRS 9 since January 2020 requires financial institutions to set aside provisions or
September 2020, which grew by 56% from THB 2,600 million as of 31st December 2019. The increase in the assets was largely due to cash raised from an initial public offering (IPO) and the first-time adoption
and administrative expenses decreased by 10.96% compared to 2Q19 due to selling-related expenses and adoption of cost- control policy such as optimization of marketing activities, installation of solar
recognition of contract assets amounting to Bt1,639mn following TFRS 15 adoption since Jan-19 (see Note 2). Total liabilities were Bt239,865mn increasing 3.0% QoQ from dividend payable recognized in 1Q19 and
associates of THB 1,207.7 mm mainly due to adoption of new accounting standard (TFRS 15) reflecting Gheco-One. 5. Decrease in investments in joint ventures of THB 246.8 mm, due to capital deduction in joint