SCI Annual Report 2015

More documents

Recommendations

Info

SCI Electric Public Company Limited SCI ELECTRIC PUBLIC COMPANY LIMITED AND ITS SUBSIDIARIES (FORMERLY KNOW AS “SCI ELECTRIC MANUFACTURER COMPANY LIMITED”) NOTES TO THE FINANCIAL STATEMENTS FOR THE TEAR ENDED 31 DECEMBER 2015 policies.The preparation of financial statements in conformity with Thai generally accepted accounting principles requires the use of certain critical accounting estimates. It also requires management to exercise its judgement in the process of applying the Group’s accounting policies. The areas involving a higher degree of judgement or complexity, or areas where assumptions and estimates are significant to the consolidated financial statements are disclosed in Note 5. For the convenience of the user, an English translation of the financial statements has been prepared from the financial statements that are issued in the Thai language The consolidated financial statements relate to SCI Electric Public Company Limited (“SCI”) and its subsidiaries (together referred to as the “the Group”). Details of the Company’s subsidiaries are as follows: Holding by SCI Ajikawa& SCI Metal Tech Co., Ltd. (“SCIMT”) SCI Holding Company Limited (“SCIH”) Holding by SCIH Tad Slen Power Company Limited (“TSL”) (2014 : holding by SCI) Percentage of Holding Country of incorporation 2015 2014 Nature of Business Thailand 99.99 99.99 Manufacture of transmission line tower, telecommunication tower and hot dip galvanized service Thailand 99.99 99.99 Holding company Laos 100 100 Hydroelectric power generation The significant transactions between the Company and the subsidiaries have been eliminated in the consolidated financial statements. 3. Accounting Policies The principal accounting policies adopted in the preparation of these consolidated and Company financial statements are set out below. 3.1 Financial reporting standards that became effective in the current year The Company has adopted the revised (revised 2014) and new financial reporting standards issued by the Federation of Accounting Professions which become effective for fiscal years beginning on or after 1 January 2015. These financial reporting standards were aimed at alignment with the corresponding International Financial Reporting Standards, with most of the changes directed towards revision of wording and terminology, and provision of interpretations and accounting guidance to users of standards. The adoption of these financial reporting standards does not have any significant impact on the Company’s financial statements. However, some of these standards involve changes to key principles, which are summarised below: 194 TAS 1 (revised 2014) Presentation of Financial Statements The main change is that a requirement for entities to group items presented in ‘other comprehensive income’ (OCI) on the basis of whether they are potentially reclassifiable to profit or loss subsequently (reclassification adjustments). The amendments do not address which items are presented in OCI.
SCI ELECTRIC PUBLIC COMPANY LIMITED AND ITS SUBSIDIARIES (FORMERLY KNOW AS “SCI ELECTRIC MANUFACTURER COMPANY LIMITED”) NOTES TO THE FINANCIAL STATEMENTS FOR THE TEAR ENDED 31 DECEMBER 2015 TAS 19 (revised 2014) Employee Benefits This revised standard requires that the entity recognise actuarial gains and losses immediately in other comprehensive income while the former standard allowed the entity to recognise such gains and losses immediately in either profit or loss or other comprehensive income, or to recognise them gradually in profit or loss. This revised standard does not have any impact on the financial statements as the Group already recognise actuarial gains and losses immediately in other comprehensive income. TFRS 10 Consolidated Financial Statements TFRS 10 prescribes requirements for the preparation of consolidated financial statements and replaces the content of TAS 27 Consolidated and Separate Financial Statements dealing with consolidated financial statements. This standard changes the principles used in considering whether control exists. Under this standard, an investor is deemed to have control over an investee if it has rights, or is exposed, to variable returns from its involvement with the investee, and it has the ability to direct the activities that affect the amount of its returns, even if it holds less than half of the shares or voting rights. This important change requires the management to exercise a lot of judgement when reviewing whether the Group has control over investees and determining which entities have to be included in preparation of the consolidated financial statements. This standard does not have any impact on the Group’s financial statements. TFRS 11 Joint Arrangements TFRS 11 supersedes TAS 31 Interests in Joint Ventures. This standard requires an entity investing in any other entity to determine whether the entity and other investors have joint control in the investment. When joint control exists, there is deemed to be a joint arrangement and the entity then needs to apply judgement to assess whether the joint arrangement is a joint operation or a joint venture and to account for the interest in the investment in a manner appropriate to the type of joint arrangement. If it is a joint operation, the entity is to recognise its shares of assets, liabilities, revenue and expenses of the joint operation, in proportion to its interest in its separate financial statements. If it is a joint venture, the entity is to account for its investment in the joint venture using the equity method in the financial statements in which the equity method is applied or the consolidated financial statements (if any), and at cost in the separate financial statements. This standard does not have any impact on the Group’s financial statements. TFRS 12 Disclosure of Interests in Other Entities This standard stipulates disclosures relating to an entity’s interests in subsidiaries, joint arrangements and associates, including structured entities. This standard therefore has no financial impact on the financial statements of the Group. TFRS 13 Fair Value Measurement This standard provides guidance on how to measure fair value and stipulates disclosures related to fair value measurement. Entities are to apply the guidance under this standard if they are required by other financial reporting standards to measure their assets or liabilities at fair value. The effects of the adoption of this standard are to be recognised prospectively. This standard does not have any significant impact on the Group’s financial statements 3.2 Thai Financial Reporting Standards (TFRS) not yet adopted During the current year, the Federation of Accounting Professions issued a number of the revised (revised 2015) and new financial reporting standards and accounting treatment guidance which is effective for fiscal years beginning on or after 1 January 2016. These financial reporting standards were aimed at alignment with the corresponding International Financial Reporting Standards. The management of the Company believes that the revised and new financial reporting standards and accounting treatment guidance will not have any significant impact on the financial statements when they are initially applied. 195 Annual Report 2015
Page 2 and 3:
ข้อมูลทางกา
Page 4 and 5:
สารจากประธา
Page 6 and 7:
ชื่อ นายสุเม
Page 8 and 9:
ชื่อ นางสาวอ
Page 10 and 11:
ชื่อ นายวิชั
Page 12 and 13:
บริษัท เอสซี
Page 14 and 15:
Page 16 and 17:
Page 18 and 19:
Page 20 and 21:
Page 22 and 23:
Page 24 and 25:
Page 26 and 27:
Page 28 and 29:
Page 30 and 31:
Page 32 and 33:
Page 34 and 35:
Page 36 and 37:
Page 38 and 39:
Page 40 and 41:
Page 42 and 43:
Page 44 and 45:
Page 46 and 47:
Page 48 and 49:
Page 50 and 51:
Page 52 and 53:
ความสัมพันธ
Page 54 and 55:
บุคคล/นิติบุ
Page 56 and 57:
Page 58 and 59:
Page 60 and 61:
Page 62 and 63:
Page 64 and 65:
Page 66 and 67:
Page 68 and 69:
Page 70 and 71:
Page 72 and 73:
Page 74 and 75:
Page 76 and 77:
Page 78 and 79:
Page 80 and 81:
Page 82 and 83:
Page 84 and 85:
Page 86 and 87:
Page 88 and 89:
Page 90 and 91:
Page 92 and 93:
Page 94 and 95:
Page 96 and 97:
Page 98 and 99:
Page 100 and 101:
Page 102 and 103:
Page 104 and 105:
Page 106 and 107:
Page 108 and 109:
Page 110 and 111:
Page 112 and 113:
Page 114 and 115:
Page 116 and 117:
Page 118 and 119:
Page 120 and 121:
Page 122 and 123:
Page 124 and 125:
Page 126 and 127:
Page 128 and 129:
Page 130 and 131:
SCI Electric Public Company Limited
Page 132 and 133:
Sci Electric Public Company Limited
Page 134 and 135:
Page 136 and 137:
Page 138 and 139:
Page 140 and 141:
Page 142 and 143:
Page 144 and 145: Sci Electric Public Company Limited
Page 146 and 147: SCI Electric Public Company Limited
Page 176 and 177: Nature of Transaction Transaction v
Page 178 and 179: Relationship - An executive directo
Page 222 and 223: SCI ELECTRIC PUBLIC COMPANY LIMITED
Page 244 and 245:
Page 246 and 247:
Page 248 and 249:
Page 250 and 251:
Page 252 and 253:
show all

SCI Annual Report 2015

You also want an ePaper? Increase the reach of your titles

Delete template?

Save as template?