Page 114 - BTSGroup ONE REPORT 2021/22_EN

112 l Introduction l Nature of Business l Organisation and Shareholding Structure l Business Review l Corporate Governance l Financial Statements l Other Information l

Total assets as of 31 March 2022 stood at THB 255,867mn, an increase of (i) Short-term loans from financial institutions and Bills of exchange payable
THB 43,790mn or 20.6% from 31 March 2021. The increase was primarily of THB 19,140mn
attributed to an increase in (ii) Net long-term debentures of THB 9,790mn, from the issuance of THB 13bn
BTSG debentures on 6 July 2021, being partially offset by the repayment
(i) Investments in associates of THB 15,430mn largely from increased of the first tranche (in May 2021) of THB 1bn of the THB 13bn Green
investment in U City following the subscription to its Rights Offering in Bond issued in May 2019 and the repayment of the second tranche (in
May 2021 and investments in Jaymart by VGI in December 2021 November 2021) of THB 2.2bn of the THB 22bn BTSC Debenture issued
(ii) Receivables under agreements/ due in the future with government in November 2016
authorities of THB 14,199mn, chiefly from (iii) Net long-term loans from financial institutions of THB 8,964mn, mainly from
(a) civil construction of the Pink and Yellow Lines and interest income the drawdown of syndicated loans in relation to the Pink & Yellow Lines
related to such unbilled receivables
(b) receivables and accrued interest under the operation and maintenance The increase, however, was partially offset by a decrease in
agreements
(iii) Cash to be received and receivables from subscription for the newly issued (iv) Other non-current financial liabilities of THB 1,801mn
ordinary shares which issued and offered by VGI of THB 12,917mn (v) Trade and other payables of THB 1,317mn

(iv) Elevated train project costs of THB 9,662mn from the construction of the (vi) Income tax payable of THB 1,017mn
Pink and Yellow Lines Total equity was THB 86,128mn, an increase of THB 10,090mn or 13.3% from
(v) Investment properties of THB 2,949mn from the acquisition of land at 31 March 2021. The increase was primarily attributed to an increase in non-
Srinakarin road by Capricorn Hill Company Limited (our subsidiary) controlling interest of the subsidiaries of THB 8,189mn, chiefly from (i) increased
(vi) Receivables under purchase and installation of operating system investment in VGI by other shareholders following the subscription to its Rights
agreement of THB 1,502mn from the provision of E&M works for the Offering in Mar 2022 and (ii) an increase in non-controlling interests of STEC
Green Line extensions and the Gold line and RATCH of THB 1,346mn (totalling 25%) for payments of additional share
The increase, however, was partially offset by a reduction in capital in Northern Bangkok Monorail Co., Ltd. (NBM) and Eastern Bangkok
Monorail Co., Ltd. (EBM) under the consolidation of the Pink and Yellow Lines.
(vii) Net long-term loans to related parties of THB 4,924mn, largely from U As of 31 March 2022, issued and fully paid-up shares of BTS Group stood
City’s debt repayment at 13,164.5mn shares (13,161.1mn shares as of 31 March 2021). Return on
(viii) Assets classified as held for sale of THB 4,086mn from the completion equity for FY 2021/22 was 4.8% against 7.5% in FY 2020/21.
of land plots sales at Pradit Manutham
(ix) Other non-current financial assets of THB 4,699mn Cash Flow

As of 31 March 2022, cash and cash equivalents stood at THB 4,094mn,
Total liabilities increased from 31 March 2021 by 24.8% or THB 33,701mn
to stand at THB 169,739mn mainly from an increase in an increase of 6.9% or THB 265mn from 31 March 2021. Cash used in operating
activities was THB 8,995mn (versus cash used in operating activities of THB