Page 31 - BTSGroup ONE REPORT 2021/22_EN

BTS Group Holdings Public Company Limited 2.2 Income Structure 29
Annual Report 2021/22

in creating synergies by collaborating with business partners. The revenue of this on 30 January 2020. As a result, the Group’s shareholding in MACO decreased
business include investments in various business such as restaurant operations, from 52.12% to 41.13% of all issued shares of MACO. Therefore, the Group
construction service business, financial services business and golf course lost control over MACO and are unable to direct MACO’s significant activities.
services. The Group has changed the classification of its investment in MACO from
a subsidiary to an associated company since 30 January 2020. In addition,
Operating revenue decreased 26.1% YoY from FY 2020/21 primarily driven by since the Group and MACO hold 25% and 75%, respectively, of all shares of
decrease in revenue from MOVE, mainly from decrease in construction revenue VGI Global Media (Malaysia) Sdn Bhd and VGI MACO (Singapore) Private
for the Pink and Yellow Lines as well as a reduction in services income for the Limited, the Group has changed the classification of its investments in both
provision of E&M works and the train procurement service for the Green Line companies from subsidiaries to associates, since the date where the Group’s
extensions as we entered tail-end of development. Nonetheless, the decline control over MACO ceased.
in operating revenue was partly offset by increasing in MIX business from
consolidation of Fanslink and increase in MOVE’s O&M revenue. For reclassification of investment, the Group recorded investments (after change
in status of investment) held at fair value and recognised gain on change in status
On 30 January 2020, Master Ad Public Company Limited (MACO) issued and of investment under discontinued operation in the consolidated statement of
offered 1,080mn additional ordinary shares to Plan B Media Public Company comprehensive income for the year ended 31 March 2020 as presented
Limited (PlanB) in accordance with a resolution passed by an Extraordinary in below table.
General Meeting of MACO’s shareholders on 14 January 2020. MACO registered
the corresponding increase in its share capital with the Ministry of Commerce