Accounts Receivable Reports as of June 30, 2022
Italian-Thai Development Public Company Limited is pleased to inform SET regarding the progression of accounts receivable reports as of June 30, 2022, as follows:
Allowances | ||||||||||||||
Transactions / | Value | for Doubtful | Sources of Transaction | Actions to be taken | ||||||||||
Companies | (MB) | Accounts | ||||||||||||
(MB) | ||||||||||||||
1. Accounts Receivable, not | 332.15 | 332.15 | The Construction of Haul Road | Due to the Covid-19 | ||||||||||
a related company/ | and Port Facilities in Indonesia. | outbreak, the accounts | ||||||||||||
overseas subsidiary: | (18.34 MB | In 1/2020, the | The project was completed in | receivable could not make | ||||||||||
PT Thailindo Bara Pratama | increased in | allowance of | 2014. | debt repayment upon plan, | ||||||||||
comparison | impairment was | and made repayment | ||||||||||||
to Mar 31, | recorded | extension request. | ||||||||||||
2022, due to | because the | However, the subsidiary | ||||||||||||
currency | accounts | had pressed for payment | ||||||||||||
exchange | receivable could | upon schedule. | ||||||||||||
rate) | not make the | |||||||||||||
debt repayment | Remark: | |||||||||||||
upon plan due to | The amount of Accounts | |||||||||||||
Covid-19 | Receivable was 313.81 MB | |||||||||||||
outbreak, | as of Mar 31, 2022. | |||||||||||||
repayment | ||||||||||||||
extension | ||||||||||||||
request. | ||||||||||||||
2. Accounts Receivable, | 63.77 | 63.77 | The consultancy service for | The Company is currently | ||||||||||
a related company - PAM | (3.61 MB | In Q3 of 2018, | techniques and engineering of | following up on possible | ||||||||||
SAKOA COAL SA (PAMS)/ | increased in | the whole | Infrastructures for SAKOA Coal | repayment upon future | ||||||||||
The overseas subsidiary: | comparison | amount was | Mine Project at Madagascar | business restructuring plan | ||||||||||
ITD Madagascar | to Mar 31, | recorded as | from 2010 to 2018. | (the factor likely relies on | ||||||||||
2022 due to | the allowance | the price in coal market). | ||||||||||||
currency | for doubtful | |||||||||||||
exchange | accounts. | Remark: | ||||||||||||
rate) | The amount of Accounts | |||||||||||||
Receivable was 60.16 MB | ||||||||||||||
as of Mar 31, 2022. | ||||||||||||||
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Allowances | ||||||||||||
Transactions / | Value | for Doubtful | Sources of Transaction | Actions to be taken | ||||||||
Companies | (MB) | Accounts | ||||||||||
(MB) | ||||||||||||
The short-term loan for | 16.22 | 16.22 | In 2013, ITD Madagascar, the | PAMS would obtain the | ||||||||
related company - PAM | (0.92 MB | In Q3 of 2018, | subsidiary of ITD, imported the | amount for paid-up tax and | ||||||||
SAKOA COAL SA (PAMS)/ | increased | the whole | machines and tools on behalf of | would payoff for the loan | ||||||||
The overseas subsidiary: | compared | amount was | the project owner (PAMS) to get | from ITD Madagascar once | ||||||||
ITD Madagascar | to Mar 31, | recorded as | tax exemption rights. | the Government issued | ||||||||
2022 due | the allowance | BOI. | ||||||||||
Relation | to currency | for doubtful | Therefore, ITD Madagascar | |||||||||
- The Directors of the | exchange | accounts. | offered PAMS the loan based | Remark: | ||||||||
Company (Mr. Premchai | rate) | on the agreement made | The amount of Accounts | |||||||||
Karnasuta, and Mrs. | between each other. Then, | Receivable was 15.3 MB as | ||||||||||
Nijaporn Charanachitta) | PAMS could use the loan to pay | of Mar 31, 2022. | ||||||||||
indirectly held 89.73% of | for tax and other expenses. | |||||||||||
the total outstanding shares | ||||||||||||
of PAM SAKOA COAL SA. | ||||||||||||
(PAMS) via Asia Thai | ||||||||||||
Mining Co., Ltd. |
- The Director of the Company (Mr. Peeti Karnasuta) was the Director of PAM SAKOA COAL SA (PAMS)
Accounts Receivable, as | 103.57 | 103.57 | The consultancy services for | The Company is currently |
related company - PAN | In Q3 of 2018, | project management for SAKOA | following up on any | |
African mining Corp./ | the whole | Coal Mine Project in | repayment in case of future | |
company | amount was | Madagascar from 2010 to 2016. | business restructuring plan | |
recorded as | (the factor relies on the | |||
Relation | the allowance | price in coal market). | ||
- The Directors of the | for doubtful | |||
Company (Mr. Premchai | accounts. | |||
Karnasuta, and Mrs. | ||||
Nijaporn Charanachitta) | ||||
indirectly held 90% of the | ||||
total outstanding shares of | ||||
PAN AFRICAN MINING | ||||
CORP via Asia Thai Mining | ||||
Co., Ltd. |
2
Allowances | ||||||||||
Transactions / | Value | for Doubtful | Sources of Transaction | Actions to be taken | ||||||
Companies | (MB) | Accounts | ||||||||
(MB) |
- The Directors of the Company (Mr. Premchai Karnasuta, Mrs. Nijaporn Charanachitta and Mr. Peeti Karnasuta) were the Directors of PAN AFRICAN MINING CORP.
3. The detail of allowances for doubtful accounts for those Accounts Receivable, as related company in total amount of 401.88 MB without suing, were as follows;
3.1 Associate company - | 372.47 | 364.99 | The Company sold MCRP the | The machine is gradually | ||
MCRP. Construction/ | (1.34 MB | machinery products | for | land | sold to pay off some of the | |
company (holding 24% | decreased | reclamation project | at | the | debt. | |
shares) | compared | Philippines in 2013. (The Project | The Accounts Receivable | |||
to Mar 31, | was cancelled) | was 373.81 MB as of Mar | ||||
2022, due | 31, 2022, 1.34 MB paid in | |||||
to paid | Q2/2022. | |||||
Accounts | ||||||
Receivable |
3.2 Auo-Po Grand Marina | 36.89 | 36.89 | The Construction services of | Auo-Po Grand Marina |
Co., Ltd./ company | jetty and Yacht Club at Auo-Po, | Co.,Ltd. posted a | ||
Phuket Province. The project | repayment plan and | |||
Relation | was completed in 2011. | continuously paid debt | ||
- The Director of the | upon its financial | |||
Company (Mr. Premchai | capabilities accordingly. | |||
Karnasuta) indirectly held | The Accounts Receivable | |||
90% of the total outstanding | was 40.49 MB as of Mar | |||
shares of Auo-Po Grand | 31, 2022. | |||
Co., Ltd. via 3 B Holding | ||||
Co., Ltd. |
3
Allowances | ||||||||||||||
Transactions / | Value | for Doubtful | Sources of Transaction | Actions to be taken | ||||||||||
Companies | (MB) | Accounts | ||||||||||||
(MB) | ||||||||||||||
- The Director of the | In Q2 of 2022, 3.6 MB was | |||||||||||||
Company (Mr. Premchai | paid. | |||||||||||||
Karnasuta) was the Director | ||||||||||||||
of Auo-Po Grand Marina | ||||||||||||||
Co., Ltd | ||||||||||||||
4. Loan for Sino Lao | 247 | - | The business of Bauxite Mining | The loan was not made | ||||||||||
Aluminum Corporation | (14 MB | at Lao PDR. The shareholders | based on the share portion | |||||||||||
Limited/ Company (holding | increased | were ITD, 34%, Lao Service | due to Reignwood's | |||||||||||
shares as 34%) | compared to | Incorporation Sole Co., Ltd, | agreement to sell ITD the | |||||||||||
Mar 31, | 33%, (Lao PDR), and | share. Also, upon Lao | ||||||||||||
2022, due to | Reignwood International | Service Incorporation's | ||||||||||||
currency | Investment (Group) Co., Ltd., | agreement, the majority | ||||||||||||
exchange | 33% (China) | shareholders is needed to | ||||||||||||
rate) | allocate the funds to | |||||||||||||
directly operate the project. | ||||||||||||||
The amount of Accounts | ||||||||||||||
Receivable was 233 MB as | ||||||||||||||
of Mar 31, 2022. | ||||||||||||||
In Q2 of 2022, the | ||||||||||||||
Company did not allow | ||||||||||||||
additional loan. | ||||||||||||||
The project is currently | ||||||||||||||
operating. | ||||||||||||||
The debt repayment is yet | ||||||||||||||
due to pay. |
Please be informed accordingly,
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Italian-Thai Development pcl published this content on 17 August 2022 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 17 August 2022 06:23:04 UTC.