Page 273 - BTSGroup ONE REPORT 2021/22_EN

BTS Group Holdings Public Company Limited 6.4 Notes to Consolidated Financial Statements 271
Annual Report 2021/22

16.1.2 U City Public Company Limited (“U City”)
Investment in U City under equity/cost method was detailed below.

(Unit: Thousand Baht)

Consolidated f nancial statements Separate f nancial statements
Equity method Cost method
2022 2021 2022 2021
Cost 22,238,309 14,417,121 22,238,309 14,417,121
Add (Less): Allowance for impairment of investment - - (1,263,000) (1,263,000)
Deferred gain on swap of investments in proportion
to the Company’s investment (1,814,947) (1,814,947) - -
Deferred gain on the entire business transfer of subsidiary (1,170,821) (1,170,821) - -
Accumulated share of loss (2,780,333) (2,895,004) - -
Accumulated share of other comprehensive income
- Exchange differences on translation of financial statements
in foreign currencies (74,380) (120,283) - -
- Gain on changes in value of available-for-sale investments 528,941 10,897 - -
- Actuarial gain 11,775 18,232 - -
Adjustment under equity method 1,015,660 996,996 - -
Net 17,954,204 9,442,191 20,975,309 13,154,121

During the year, the Company subscribed U City’s newly issued for a total of Baht 252 million and Baht 146 million, respectively.
preferred shares which was issued and offered to its existing From these transactions, its shareholding in U City increased from
shareholders on a pro rata basis to their respective shareholding 37.87% to 45.94% of all of the total paid-up shares of U City. The
(Rights Offering) in the amount of 11,000 million shares, with the Company recorded the gain on sale of investment in U City amounting
total value of Baht 7,700 million and the Company acquired and sold to Baht 15 million in the statement of comprehensive income for the
preferred shares of U City through the Stock Exchange of Thailand year ended 31 March 2022.