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 SCI ELECTRIC PUBLIC COMPANY LIMITED AND ITS SUBSIDIARIES (FORMERLY KNOW AS “SCI ELECTRIC MANUFACTURER COMPANY LIMITED”) NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE TEAR ENDED 31 DECEMBER 2015 In Baht Consolidated and Separate financial statements 2015 2014 Balance, beginning of year - 8,000,000 Add Increase during the year - (1,000,000) Less Decrease during the year - (7,000,000) Balance, end of year - - As at 31 December 2015, the Company has completed the litigation the short-term loan to other company. The court has an ordered the receivable to repay the Company by installment of Baht 50,000 per month since March 2015 onwards. However, the Company recorded a full allowance for bad debt of such loan. Long-term loan to other person The movement of long - term loan to other person is as follows: In Baht Consolidated and Separate financial statements 2015 2014 Balance, beginning of year 11,516,135 11,516,135 Less Decrease during the year (11,516,135) - Balance, end of year - 11,516,135 The Company received the long-term loan to other person included accrued interest income amounting to Baht 258,560 on 30 April 2015. 12. Unbilled Completed Work / Advance Received From Customers And Unearned Income In Baht Consolidated and Separate financial statements 2015 2014 Construction revenues recognized to date 3,025,002,355 2,460,689,124 Less Installments due to date (2,907,765,707) (2,346,197,068) 117,236,648 114,492,056 214

SCI ELECTRIC PUBLIC COMPANY LIMITED AND ITS SUBSIDIARIES (FORMERLY KNOW AS “SCI ELECTRIC MANUFACTURER COMPANY LIMITED”) NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE TEAR ENDED 31 DECEMBER 2015 In Baht Consolidated and Separate financial statements 2015 2014 This disclosure consists of Current assets Unbilled completed work 117,236,648 114,492,056 Advances for supplies (Note 10) 6,015,355 13,407,366 Current liabilities Advance received from customers 20,991,168 118,284,245 Annual Report 2015 The Company entered into the service contract with its customer in US Dollar at the contract amount of US Dollar 93.78 million, which not yet recognized revenue or not yet rendered the services amounting to US Dollar 0.32 million (2014: US Dollar 16.86 million). 13. Inventories In Baht Consolidated financial statements Separate financial statements 2015 2014 2015 2014 Raw materials 114,561,727 100,077,483 24,341,001 21,792,590 Work in process 67,195,008 69,259,212 5,038,188 6,689,707 Finished goods 31,170,970 40,725,067 14,032,994 12,390,832 Total 212,927,705 210,061,762 43,412,183 40,873,129 The cost of inventories recognised in the Group and the Company as ‘cost of sales’ amounted to Baht 1,237.27 million and Baht 323.45 million, respectively (2014:Baht 1,151.42 million and Baht 288.56 million, respectively) 14. DEPOSITS PLEDGED AS COLLATERAL As at 31 December 2015, the Group and the Company have fixed deposits and saving accounts totaling Baht 143.71 million and Baht 120.19 million, respectively (2014: Baht 136.16 million and Baht 112.82 million, respectively) were pledged as collateral for letters of guarantee (Note 34) and short-term loans from financial institutions (Note 23). 215

<strong>SCI</strong> Electric Public Company Limited<br />

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

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

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)<br />

FOR THE TEAR ENDED 31 DECEMBER <strong>2015</strong><br />

In Baht<br />

Consolidated and<br />

Separate financial statements<br />

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

Balance, beginning of year - 8,000,000<br />

Add Increase during the year - (1,000,000)<br />

Less Decrease during the year - (7,000,000)<br />

Balance, end of year - -<br />

As at 31 December <strong>2015</strong>, the Company has completed the litigation the short-term loan to other company. The court has an ordered<br />

the receivable to repay the Company by installment of Baht 50,000 per month since March <strong>2015</strong> onwards. However, the Company<br />

recorded a full allowance for bad debt of such loan.<br />

Long-term loan to other person<br />

The movement of long - term loan to other person is as follows:<br />

In Baht<br />

Consolidated and<br />

Separate financial statements<br />

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

Balance, beginning of year 11,516,135 11,516,135<br />

Less Decrease during the year (11,516,135) -<br />

Balance, end of year - 11,516,135<br />

The Company received the long-term loan to other person included accrued interest income amounting to Baht 258,560 on 30 April <strong>2015</strong>.<br />

12. Unbilled Completed Work / Advance Received From Customers And Unearned Income<br />

In Baht<br />

Consolidated and<br />

Separate financial statements<br />

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

Construction revenues recognized to date 3,025,002,355 2,460,689,124<br />

Less Installments due to date (2,907,765,707) (2,346,197,068)<br />

117,236,648 114,492,056<br />

214

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