SCI Annual Report 2015
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SCI Annual Report 2015

Annual Report Annual Report

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SCI Electric Public Company Limited Independent Auditor’s Report on Review of Interim Financial Information To the Board of Directors and Shareholders of SCI Electric Public Company Limited (Formerly known as “SCI Electric Manufacturer Company Limited”) I have audited the accompanying consolidated financial statements of SCI Electric Public Company Limited and its subsidiaries, which comprise the consolidated statements of financial position as at 31 December 2015, and the related consolidated statements of comprehensive income, changes in shareholders’ equity and cash flows for the year then ended, and a summary of significant accounting policies and other explanatory information, and have also audited the separate financial statements of SCI Electric Public Company Limited for the same period. Management’s Responsibility for the Financial Statements Management is responsible for the preparation and fair presentation of these financial statements in accordance with Thai Financial Reporting Standards, and for such internal control as management determines is necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error. Auditor’s Responsibility My responsibility is to express an opinion on these financial statements based on my audit. I conducted my audit in accordance with Thai Standards on Auditing. Those standards require that I comply with ethical requirements and plan and perform the audit to obtain reasonable assurance about whether the financial statements are free from material misstatement. An audit involves performing procedures to obtain audit evidence about the amounts and disclosures in the financial statements. The procedures selected depend on the auditor’s judgment, including the assessment of the risks of material misstatement of the financial statements, whether due to fraud or error. In making those risk assessments, the auditor considers internal control relevant to the entity’s preparation and fair presentation of the financial statements in order to design audit procedures that are appropriate in the circumstances, but not for the purpose of expressing an opinion on the effectiveness of the entity’s internal control. An audit also includes evaluating the appropriateness of accounting policies used and the reasonableness of accounting estimates made by management, as well as evaluating the overall presentation of the financial statements. I believe that the audit evidence I have obtained is sufficient and appropriate to provide a basis for my audit opinion. Opinion In my opinion, the financial statements referred to above present fairly, in all material respects, the financial position of SCI Electric Public Company Limited and its subsidiaries and of SCI Electric Public Company Limited as at 31 December 2015, and their financial performance and cash flows for the year then ended, in accordance with Thai Financial Reporting Standards. …………………….……………………… PRADIT RODLOYTUK Certified Public Accountant Registration No. 218 Ast Master Co., Ltd. 26 February 2016 182

SCI ELECTRIC PUBLIC COMPANY LIMITED AND ITS SUBSIDIARIES (FORMERLY KNOWN AS “SCI ELECTRIC MANUFACTURER COMPANY LIMITED”) STATEMENT OF FINANCIAL POSITION AS AT 31 DECEMBER 2015 (In Baht) Consolidated financial statements Separate financial statements Notes 2015 2014 2015 2014 ASSETS CURRENT ASSETS Cash and cash equivalents 8 122,965,151 269,075,039 88,902,803 226,831,374 Short-term investments 9 1,026,507,607 6,137,713 1,026,507,607 - Trade and other receivable 10 777,056,719 740,910,251 410,428,231 290,619,317 Short-term loan to subsidiary 7.2 - - 55,983,248 51,019,232 Short-term loan to other company 11 - - - - Unbilled completed work 12 117,236,648 114,492,056 117,236,648 114,492,056 Inventories 13 13 212,927,705 210,061,762 43,412,183 40,873,129 Other current assets 15,417,709 1,301,657 15,277,305 572,628 Total current assets 2,272,111,539 1,341,978,478 1,757,748,025 724,407,736 NON-CURRENT ASSETS Deposits pledged as collateral 14 143,714,658 136,159,437 120,190,940 112,816,846 Long-term investment as collateral 15 6,419,259 - 6,419,259 - Long-term trade accounts receivable 10 619,019 536,379 - - Investment in subsidiaries 16 - - 296,763,100 255,546,580 Long-term investments 17 348,643 348,643 50,000 50,000 Long-term loan to other person 11 - 11,516,135 - 11,516,135 “Property, plant and equipment” 18 188,067,840 167,605,555 70,865,011 64,611,241 Right in service concession arrangement 19 279,839,461 252,352,442 - - Intangible assets 19 8,194,605 2,716,180 1,034,186 250,144 Deferred tax assets 20 7,203,362 7,478,750 4,938,542 4,717,850 Income tax refundable 21 - - - - Other non-current assets 1,175,673 6,394,462 592,413 218,262 Total non-current assets 635,582,520 585,107,983 500,853,451 449,727,058 TOTAL ASSETS 2,907,694,059 1,927,086,461 2,258,601,476 1,174,134,794 Annual Report 2015 The accompanying notes are an integral part of these financial statements. ________________________________ Director (Ms. Aunada Phruttinarakorn) ________________________________ Director (Mr. Sirichai Phurttinarakorn) 183

<strong>SCI</strong> ELECTRIC PUBLIC COMPANY LIMITED AND ITS SUBSIDIARIES<br />

(FORMERLY KNOWN AS “<strong>SCI</strong> ELECTRIC MANUFACTURER COMPANY LIMITED”)<br />

STATEMENT OF FINANCIAL POSITION<br />

AS AT 31 DECEMBER <strong>2015</strong><br />

(In Baht)<br />

Consolidated financial statements Separate financial statements<br />

Notes <strong>2015</strong> 2014 <strong>2015</strong> 2014<br />

ASSETS<br />

CURRENT ASSETS<br />

Cash and cash equivalents 8 122,965,151 269,075,039 88,902,803 226,831,374<br />

Short-term investments 9 1,026,507,607 6,137,713 1,026,507,607 -<br />

Trade and other receivable 10 777,056,719 740,910,251 410,428,231 290,619,317<br />

Short-term loan to subsidiary 7.2 - - 55,983,248 51,019,232<br />

Short-term loan to other company 11 - - - -<br />

Unbilled completed work 12 117,236,648 114,492,056 117,236,648 114,492,056<br />

Inventories 13 13 212,927,705 210,061,762 43,412,183 40,873,129<br />

Other current assets 15,417,709 1,301,657 15,277,305 572,628<br />

Total current assets 2,272,111,539 1,341,978,478 1,757,748,025 724,407,736<br />

NON-CURRENT ASSETS<br />

Deposits pledged as collateral 14 143,714,658 136,159,437 120,190,940 112,816,846<br />

Long-term investment as collateral 15 6,419,259 - 6,419,259 -<br />

Long-term trade accounts receivable 10 619,019 536,379 - -<br />

Investment in subsidiaries 16 - - 296,763,100 255,546,580<br />

Long-term investments 17 348,643 348,643 50,000 50,000<br />

Long-term loan to other person 11 - 11,516,135 - 11,516,135<br />

“Property, plant and equipment” 18 188,067,840 167,605,555 70,865,011 64,611,241<br />

Right in service concession arrangement 19 279,839,461 252,352,442 - -<br />

Intangible assets 19 8,194,605 2,716,180 1,034,186 250,144<br />

Deferred tax assets 20 7,203,362 7,478,750 4,938,542 4,717,850<br />

Income tax refundable 21 - - - -<br />

Other non-current assets 1,175,673 6,394,462 592,413 218,262<br />

Total non-current assets 635,582,520 585,107,983 500,853,451 449,727,058<br />

TOTAL ASSETS 2,907,694,059 1,927,086,461 2,258,601,476 1,174,134,794<br />

<strong>Annual</strong> <strong>Report</strong> <strong>2015</strong><br />

The accompanying notes are an integral part of these financial statements.<br />

________________________________ Director<br />

(Ms. Aunada Phruttinarakorn)<br />

________________________________ Director<br />

(Mr. Sirichai Phurttinarakorn)<br />

183

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