1 Note: 1) Revenue and Cost that were recognized when there is construction under concession agreements for tap water according to accounting standard TFRIC12 1. ANALYSIS OF FINANCIAL PERFORMANCE For
mainly due to the loan interest expense for the Lofts Asoke project was recognized as financial cost after the construction completed in December 2018. Moreover, the average interest rate of debenture that
) (8.49%) Note: 1) Revenue and Cost that were recognized when there is construction under concession agreements for tap water according to accounting standard TFRIC12 Cost of 2018 = 2,219.31 ลานบาท Revenue
contract ends. The Group’s management assessed the agreement in accordance with TFRIC 12 ‘Service Concession Arrangements’. As a result, the Group’s management recognized revenue from construction under a
Agreements in accordance with TFRIC 4 “Determining whether an arrangement contains a lease” and found that the agreement is finance lease. The Group then derecognized building and equipment and recognized to
novating M&E accounts payable to long term loan from financial institutions totaling of Baht 13,619 Million which is the same amount that the Company has the obligation. This novation has no effect to the