Page 107 - 56-1 One Report 2022 EN

Part 1 Business Operation and Operating Performance

Aging analyses for trade receivables

31 December 2022 31 December 2021
Aging analyses for trade receivables
Unit: Baht million Amount % of Amount % of
(Bt mn) Total assets (Bt mn) Total assets
Trade receivable within credit terms 70 0.5% 157 1.0%
Overdue:
Less than 3 months 116 0.8% 170 1.1%

3 - 6 months 220 1.5% 25 0.2%
6 - 12 months 489 3.3% 14 0.1%

Over 12 months 482 3.2% 1,332 8.7%
Less allowance for expected credit losses (515) -3.5% (648) -4.2%

Net trade receivables 862 5.8% 1,050 6.9%
The normal credit term for general customers were 30 days. The average collection period remained constant at
176 days in both 2021 and 2022, as the average net trade receivables of 2021-2022 were 907 million, mostly from
government entities. The Company considers the risk of default payment of government accounts to be low.

In respect of trade accounts receivable, the Company has regularly reviewed its collection performance.
The Company believed that the allowance for doubtful accounts receivable recorded upon analysis of each debtor
would sufficiently cover the total figure of doubtful accounts receivable. After the total allowance for doubtful
accounts receivable is set, the Company’s legal unit will work on legal proceedings for the strictest collection prior
to the amortization of trade accounts receivable and allowance for doubtful accounts expected to be non-
collectible.

Inventories
At the end of 2022, the Company’s net inventories were Baht 24 million, which increased by 222.0% from Baht 7
million as of the end of 2021. The days of inventory on hand was 4 days in 2022, which decreased from 6 days in
2021. However, the company’s main source of income is from the service revenue, which is not included in the
inventory.

Loans to a joint venture and related parties
At the end of 2022, the Company's loans to a joint venture and related parties totaled Baht 1,825 million, which
represented an increase of 4.1% compared to Baht 1,753 million as of the end of 2021.The amount was lending to
Shennington Investments Pte. Limited.

Property, Plant and Equipment
Property, Plant, and Equipment as of the end of 2022 were Baht 2,276 million, a decrease of 18.1% from Baht 2,778
million as of the end of 2021. This was due mainly to the depreciation and amortization of Property, Plant, and
Equipment during 2022.

Right-of-use assets
At the end of 2022, the Company had right-of-use assets of Baht 1,589 million or 10.7% of total assets. This was
mainly the right-of-use from the agreement to purchase part of the bandwidth capacity on Thaicom 4 and Thaicom
6 Satellites after the expiry of the concession, and the capacity on the foreign satellite operators leased for the

Part 1 Page 93