Page 271 - BTSGroup ONE REPORT 2021/22_EN

BTS Group Holdings Public Company Limited 6.4 Notes to Consolidated Financial Statements 269
Annual Report 2021/22

16. Investments in associates

16.1 Details of associates
(Unit: Thousand Baht)
Consolidated f nancial Separate f nancial
statements statements
Company’s name Nature of business Country of Shareholding percentage Carrying amounts based on Cost
incorporation equity method
2022 2021 2022 2021 2022 2021
BTS Rail Mass Transit Growth Investment in infrastructure businesses Thailand 33.33 33.33 9,439,020 9,734,478 18,429,666 18,695,868
Infrastructure Fund
U City Plc. Property development Thailand 45.94 37.87 17,954,204 9,442,191 22,238,309 14,417,121
Master Ad Plc. (14.92% held by Managing and provision of advertising Thailand 41.50 41.16 3,259,382 2,890,799 1,650,425 1,523,804
the Company) services
Kerry Express (Thailand) Plc. Provision of domestic express delivery Thailand 22.33 20.28 8,614,071 8,405,346 2,781,071 2,041,919
(4.30% held by the Company) services
Jay Mart Plc. Investment in wholesale and retail of Thailand 14.58 - 6,336,878 - - -
mobile phones and accessories
business
U-Tapao International Aviation Co., Ltd. Airport development and related business Thailand 35.00 35.00 1,507,890 1,569,935 1,575,000 1,575,000
Chao Phraya Express Boat Co., Ltd. Transportation on passenger boats and Thailand 27.50 27.50 152,701 175,222 200,000 200,000
tourist boats travelling
Ads Chao Phraya Co., Ltd. Rendering advertising media services on Thailand 25.00 25.00 88,761 93,759 - -
boats and piers along river
Aero Media Group Co., Ltd. Advertising media in domestic airports Thailand 30.00 30.00 115,799 115,799 - -
Demo Power (Thailand) Co., Ltd. Arrangement of marketing activities, Thailand 40.00 40.00 419,454 445,907 - -
including distribution of samples and
carrying out product demonstrations to
promote sales
Groupwork Co., Ltd. Real estate rental business for office space Thailand 20.00 20.00 4,309 3,410 - -
and co-working space, including space
inside the BTS skytrain system
VGI MACO (Singapore) Private Limited Investment in advertising media business Singapore 25.00 25.00 104,647 62,162 - -
Native Eats Co., Ltd. Management of food and beverage Thailand 25.00 25.00 7,748 9,384 - -
businesses