Page 131 - BTSGroup ONE REPORT 2021/22_EN

BTS Group Holdings Public Company Limited 4.4 Management Discussion and Analysis 129
Annual Report 2021/22

The Group believes that the assumptions used in making such estimate are Assets classified as held for sale as at 31 March 2022 decreased from
appropriate under the current circumstances. The Group is continuing to 31 March 2021 of THB 4,086.4mn, mainly from investment properties of
monitor and to resolve the matter and will assess the impact when facts Future Domain Company Limited and Majestic Park Company Limited which
or circumstances change. are subsidiaries of the Company. The Group disposed all investment in Future
Domain Company Limited and Majestic Park Company Limited in June 2021
Receivables due in the future under agreements with government authorities and March 2022, respectively.
as at 31 March 2022 were THB 49,604.0mn which consisted of current portion
of THB 13.0mn and non-current portion of THB 49,591.0mn. Receivables due Receivables from sales of land as at 31 March 2022 of THB 2,281.7mn
in the future under agreements with government authorities totally increased represent the Company’s receivables from the sale of two plots of land in
by THB 6,580.9mn YoY (from THB 43,023.1mn as at 31 March 2021) mainly December 2020 and last plot of land in April 2021. The outstanding balance
from the design and construction of civil works of Pink Line and Yellow Line will be paid within December 2023.
that the Group will receive in fixed amounts as stipulated in the agreements.
In considering the expected credit losses and classification of the receivables, Investments in associates as at 31 March 2022 amounting THB 48,262.5mn
the Group applied the same criteria as the receivable under agreements with increased of THB 15,429.9mn YoY (from THB 32,832.8mn as at 31 March
the government authority described above. 2021) mainly from an increased investment in U City following the subscription
of its rights offering and investments in Jaymart by VGI.
Receivable under purchase and installation of operating system agreements
as at 31 March 2022 were THB 21,503.8mn, which comprised current portion Elevated train project costs as at 31 March 2022 amounting THB 52,198.1mn
of THB 69.1mn and non-current portion of THB 21,434.7mn. Receivables under increased of THB 9,662.4mn YoY (from THB 42,535.8mn as at 31 March 2021)
purchase and installation of operating system agreements totally increased due to the construction progress of Pink and Yellow Lines.
of THB 1,502.1mn YoY due to services providing under the agreement of
the purchase and installation of operating system (electrical and mechanical Investment properties as at 31 March 2022 amounting THB 9,177.5mn
systems) and additional agreements related to the Green Line. In considering increased of THB 2,948.6mn YoY (from THB 6,228.9mn as at 31 March 2021)
the expected credit losses and classification of the receivables, the Group due to the acquisition of land at Srinakarin road by Capricorn Hill Company
applied the same criteria as the receivables under agreements with the Limited (our subsidiary) and the construction progress of Mochit Complex.
government authority described above.

Advances to contractors and for acquisitions of assets as at 31 March
Long-term loan to related parties as at 31 March 2022 of THB 230.4mn, 2022 were THB 1,827.8mn. The decrease of THB 783.4mn YoY was mainly
decreased of THB 4,924.0mn YoY (from THB 5,154.4mn as at 31 March 2021) from the construction in progress of the civil works and the procurement of
mainly because the Company received loan from U City, an associate, in electrical and mechanical systems and related equipment for the Pink Line
June 2021. and Yellow Line.