Page 256 - BTSGroup ONE REPORT 2021/22_EN

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

On 2 April 2021, the Group submitted a notification letter of legal action The Group used judgement to estimate allowance for expected credit
to Krungthep Thanakom and BMA. Subsequently, on 15 July 2021, the loss for the receivable, taking into account the legal action and mediation
Group filed a lawsuit with the Central Administrative Court against BMA before the case is finalised. The Group believes that it will receive
and Krungthep Thanakom to have them settle all debt until date 17 July payment from Krungthep Thanakom which is the government authority
2021 under the Operating and Maintenance agreements for the Extension and most of debts are subject to interests which are appropriate to the
Line Phase No.1, amounting to Baht 2,731 million (consisting of principal market rate. The allowance estimated by the Group is immaterial to the
and interest), and for the Extension Line Phase No.2, amounting to Baht financial statements. Therefore, the Group did not record the allowance
9,406 million (consisting of principal and interest). Subsequently, on 18 in its accounts. Moreover, the Group reclassified the receivable as
August 2021, the Central Administrative Court accepted the motion, and “Non-current assets” in the statement of financial position since
the defendants submitted statement in March and April 2022, with the Krungthep Thanakom has defaulted on payment to the Group and legal
Group submitting responses to the defendants’ statements in May 2022. action or negotiations seeking a resolution of the matter with Krungthep
The case is not yet concluded and is currently under the consideration Thanakom, BMA and the government may not be finalised within one
of the Central Administrative Court. year. The Group believes that the assumptions used in making this
estimate are appropriate under the current circumstance. Although
Moreover, as described in Note 11 to the financial statements, the the Group filed a lawsuit with the Central Administrative Court as
Group requested an extension of the transfer date of the title to the discussed above, the Group is continuing to monitor and to resolve the
assets under the purchase and installation of operating system (electric matter. The Group will assess the impact when facts or circumstances
and mechanic) agreement for the Extension Line Phase No.2 to 28 May change.
2021, which has been approved by Krungthep Thanakom. As stipulated
in the agreement, Krungthep Thanakom exercised the option to extend As at 31 March 2022, the outstanding balances of the receivable under
the payment period for 2 years and interest to be charged at the rate agreements with government authority consist of receivable for the Green
stipulated in the agreement as from the date the legal title of the assets Line amounting to Baht 18,348 million (2021: Baht 10,802 million) and
is transferred. receivable of the Gold Line amounting to Baht 89 million 2021: Baht 16
million).

10.2 Receivables due in the future under agreements with government authorities
(Unit: Thousand Baht)
Consolidated f nancial statements
2022 2021
Receivables consisted of
Current 13,028 23,774
Non-current 49,590,973 42,999,329