TRUE CORPORATION PUBLIC COMPANY LIMITED
CONSOLIDATED AND SEPARATE
FINANCIAL STATEMENTS
FOR THE PERIOD FROM 1 MARCH 2023 (DATE OF AMALGAMATION) TO 31 DECEMBER 2023
Index | Page | ||||
Auditor's report | 1 | ||||
Statements of financial position | 7 | ||||
Statements of comprehensive income | 10 | ||||
Statements of changes in equity | 11 | ||||
Statements of cash flows | 13 | ||||
Notes to the consolidated and separate financial statements | |||||
1 | General information | 15 | |||
2 | Agreements and licences for operation | 15 | |||
3 | Basis of preparation | 17 | |||
4 | New and amended financial reporting standards | 20 | |||
5 | Accounting policies | ||||
5.1 | Principles of consolidation and equity accounting | 21 | |||
5.2 | Business combination | 22 | |||
5.3 | Foreign currency translation | 23 | |||
5.4 | Cash and cash equivalents | 23 | |||
5.5 | Trade accounts receivables | 23 | |||
5.6 | Inventories | 23 | |||
5.7 | Financial assets | 24 | |||
5.8 | Investment property | 26 | |||
5.9 | Property, plant and equipment | 26 | |||
5.10 | Goodwill | 27 | |||
5.11 | Intangible assets | 27 | |||
5.12 | Impairment of assets | 28 | |||
5.13 | Leases | 28 | |||
5.14 | Financial liabilities | 29 | |||
5.15 | Borrowing Costs | 29 | |||
5.16 | Current and deferred income taxes | 30 | |||
5.17 | Provisions | 30 | |||
5.18 | Employee benefits | 30 | |||
5.19 | Share capital | 31 | |||
5.20 | Revenue recognition | 31 | |||
5.21 | Segment reporting | 32 | |||
5.22 | Dividend distribution | 32 | |||
5.23 | Derivatives and hedging activities | 32 | |||
6 | Financial risk management | ||||
6.1 | Financial risk factors | 34 | |||
6.1.1 | Market risk | 34 | |||
(a) | Foreign exchange risk | 34 | |||
(b) Cash flow and fair value interest rate risk | 36 | ||||
6.1.2 | Credit risk | 36 | |||
(a) | Risk management | 36 | |||
(b) | Security | 37 | |||
(c) Impairment of financial assets | 37 | ||||
6.1.3 | Liquidity risk | 37 | |||
6.2 | Capital management | 38 | |||
7 | Critical accounting estimates and judgements | ||||
7.1 | Critical accounting estimates and assumptions | 39 | |||
(a) Estimation impairment of goodwill | 39 | ||||
(b) Estimated impairment of assets | 39 | ||||
(c) Determination of discount rate applied to leases and decommissioning liability | 39 | ||||
7.2 | Critical judgements in applying the entity's accounting policies | ||||
(a) | Investment in associates | 39 | |||
(b) | Joint arrangements | 39 | |||
8 | Consolidated segment information | 40 | |||
9 | Fair value | 41 | |||
10 | Expenses by nature | 45 | |||
11 | Finance costs | 46 | |||
12 | Income tax | 46 | |||
13 | Basic earnings per share | 47 | |||
14 | Cash and cash equivalents | 47 | |||
15 | Restricted cash at bank | 47 | |||
16 | Trade and other receivables | 48 | |||
17 | Financial assets and financial liabilities | 50 | |||
Index | Page |
18 | Inventories | 50 |
19 | Other current assets | 50 |
20 | Investments in subsidiaries, associates and interests in joint ventures | 50 |
21 | Property, plant and equipment | 59 |
22 | Right-of-use assets | 61 |
23 | Goodwill | 61 |
24 | Intangible assets | 63 |
25 | Deferred income taxes | 65 |
26 | Other non-current assets | 67 |
27 | Borrowings | 67 |
28 | Trade and other payables | 70 |
29 | Other current liabilities | 70 |
30 | Lease liabilities | 71 |
31 | Liabilities under agreements and licences for operation | 72 |
32 | Employee benefits obligations | 72 |
33 | Provisions | 74 |
34 | Other non-current liabilities | 74 |
35 | Cost of providing services | 75 |
36 | Other income | 75 |
37 | Share capital and premium on share capital | 75 |
38 | Legal reserve | 76 |
39 | Assets and liabilities relating to contracts with customers | 76 |
40 | Commitments and contingent liabilities | 77 |
41 | Contracts | 78 |
42 | Litigations and Arbitration disputes and contingent liabilities | 79 |
43 | Related party transactions | 87 |
44 | Amalgamation | 90 |
45 | Event after reporting date | 91 |
List of abbreviations | |
Subsidiaries | Abbreviation |
AP&J Production Co., Ltd. | AP&J |
Asia Wireless Communication Co., Ltd. | AWC |
Bangkok Inter Teletech Public Company Limited | BITCO |
BFKT (Thailand) Limited | BFKT |
Cineplex Co., Ltd. | CNP |
Seekone Holding company Limited | Seekone |
Seekster Co., Ltd. | Seekster |
Seekforce Co., Ltd. | Seekforce |
Chiwiborirak Co., Ltd. | CHIIWII |
Hutchison CAT Wireless MultiMedia Limited | HCAT |
Hutchison MultiMedia Services (Thailand) Limited | HMSTL |
Hutchison Telecommunications (Thailand) Company Limited | HTTCL |
Hutchison Wireless MultiMedia Holdings Limited | HWMH |
Internet Knowledge Service Center Co., Ltd. | IKSC |
KSC Commercial Internet Co., Ltd. | KSC |
MKSC World Dot Com Co., Ltd. | MKSC |
Panther Entertainment Co., Ltd. | PTE |
Samut Pakan Media Corporation Co., Ltd. | SPM |
Satellite Service Co., Ltd. | SSV |
SM True Co., Ltd. | SM True |
Song Dao Co., Ltd. | SD |
Telecom Asset Management Co., Ltd. | TAM |
Telecom Holding Co., Ltd. | TH |
Thai News Network (TNN) Co., Ltd. | TNN |
True Digital Group Co., Ltd. | TDG |
True Digital Park Co., Ltd. | TDPK |
True Distribution and Sales Co., Ltd. | TDS |
True4U Station Co., Ltd. | True4U |
True E-Logistic Co., Ltd. | TEL |
True Icontent Co., Ltd. | TICT |
True Incube Co., Ltd. | TINC |
True International Gateway Co., Ltd. | TIG |
True Internet Corporation Co., Ltd. | TICC |
True Life Plus Co., Ltd. | TLP |
True Media Solutions Co., Ltd. | TSC |
True Move Co., Ltd. | TMV |
True Move H Universal Communication Co., Ltd.* | TUC |
True Multimedia Co., Ltd. | TM |
True Music Co., Ltd. | TMS |
True Public Communication Co., Ltd. | TPC |
True United Football Club Co., Ltd. | TUFC |
True Visions Cable Public Company Limited | True Cable |
True Visions Group Co., Ltd. | TVG |
True Visions Public Company Limited | True Visions |
True Voice Co., Ltd. | TV |
WorldPhone Shop Co., Ltd. | WPS |
TAC Property Co., Ltd . | TACP |
dtac TriNet Co., Ltd.* | DTN |
dtac Accelerate Co., Ltd. | DAC |
dtac Digital Media Co., Ltd. | DDM |
TeleAssets Co., Ltd. | TELE |
K.I.N. (Thailand) Co., Ltd. | KINBVI |
- On 3 August 2023, TUC and DTN completed a registration of their amalgamation with the Department of Business Development, Ministry of Commerce. As a result, DTN has ceased its status as a juristic person, while TUC continues to be a legal entity. TUC received all assets, liabilities, rights, and obligations of DTN by operation of law.
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True Corporation pcl published this content on 11 March 2024 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 11 March 2024 04:54:06 UTC.