Page 324 - BTSGroup ONE REPORT 2021/22_EN

322 l Introduction l Nature of Business l Organisation and Shareholding Structure l Business Review l Corporate Governance l Financial Statements l Other Information l
b) The subsidiaries had capital commitments of Baht 183 million and 49.3 Commitments Under Mass Transit Operations and Related
USD 5 million (2021: Baht 172 million), relating to the decoration of
restaurant, acquisition of equipment and computer software, ticketing
systems and information management system installation, website 49.3.1 Bangkok Mass Transit System Public Company Limited (“BTSC”)
development, advertising media and inventories.
49.2 Service Contract Commitments
a) The Company entered into a service agreement with a related party
which is to furnish the Company with golf course service business
management and systems management service. The Company is to
pay service fees at a rate as stipulated in the agreement.
b) A subsidiary had commitments of approximately Baht 80 million (2021:
Baht 129 million) relating to its operations under the agreements of
the Bus Rapid Transit (BRT) project - Chong Nonsi to Sa-pan Krung
Thep Line (Chong Nonsi - Ratchaphruek).
c) A subsidiary entered into a Secondment Agreement with a company,
whereby the counterparty agrees to send its employees to the
subsidiary to provide support in respect of project management. The
agreement shall be effective from 1 January 2022 until 31 March
2023. The subsidiary is to pay service fees at a rate as stipulated in
the agreement.
d) The Group had committed to pay fees totaling Baht 1,555 million
and HKD 2 million in the future (2021: Baht 1,595 million and HKD
2 million) (Separate financial statements: Baht 41 million (2021: Baht
64 million)) relating to service agreements.
Certain obligations as described in d) will be allocated for collection
from BTS Rail Mass Transit Growth Infrastructure Fund (“BTSGIF”) in
accordance with bases and assumptions determined by the subsidiary
and BTSGIF. The subsidiary’s management believes that these bases
and assumptions are appropriate under the current circumstances.
Business
a) Commitments totaling Baht 97 million (2021: Baht 124 million) in
respect of improvements of BTS Sky Train System.
b) Commitments totaling EUR 0.5 million (2021: EUR 3 million) in respect
of the acquisitions of spare parts for trains.
c) Future commitments in respect of acquisitions of elevated trains,
totaling 70 cars under the operation and maintenance contract for a
mass transit system in Bangkok, dated 3 May 2012. The trains must
be in operation by 2030.
d) Commitments under a maintenance contract over a period of 15 years
of mass transit system project, BTSC had commitments in respect of
the cost of maintenance and spares supply service fees in relation
to the project over a period of 15 years and the annual maintenance
fees to be paid for the first year, while in future years, the amount
to be paid will be adjusted upwards with reference to the consumer
price index.
e) Commitments under a maintenance contract for 22 of the 46 4-car
trains, BTSC had commitments in respect of the cost of maintenance
and spares supply service fees in relation to the project over a period
of 16 years as from the year 2019 to the year 2035 and the annual
maintenance fees of Baht 73 million and EUR 1 million, while in future
years, the amount to be paid will be adjusted upwards with reference
to the consumer price index.
f) The station maintenance contract for the Green line Bearing-
Samutprakan have a period of 16 years 7 months, from 2018 to
2035, and Saint Louis Station (S4) with the total contract value of