SCI Annual Report 2015

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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 226 In Baht Consolidated financial statements Separate financial statements Expenditure on Environmental and Total Software program Software program Social expenses Right in service concession arrangement As at 31 December 2015 Cost 270,579,316 368,705 270,948,021 11,147,461 2,673,751 Less Accumulated amortization (29,347,006) (37,428) (29,384,434) (2,957,690) (1,639,565) Foreign currency translation 38,223,123 52,751 38,275,874 4,834 - Net book value 279,455,433 384,028 279,839,461 8,194,605 1,034,186 During the construction period, according to CA, the subsidiary has obligation to implementing and complying with its Environmental obligation totally US Dollar 166,800 and obligation to funding for Water Resources and Environmental Administration(WREA) capacity building and for WREA’s environmental monitoring and inspection totally US Dollar 54,500. The subsidiary paid some of obligation and recorded in intangible asset and amortized for 30 years as per CA. However, the budget continuing support for operation period requires some negotiations with the GOL after completing of construction phase. In addition, the subsidiary has obligation for major overhaul before transferring the assets to the grantor at the end of concession period. The subsidiary recognized a provision of US Dollar 143,576 (equivalent to Baht 5 million).
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 20. Deferred Income Tax Deferred income taxes are calculated in full on temporary differences, using the liability method and using a principal tax rate of 20%. The deferred taxation related to the temporary differences between the carrying amounts and the tax bases of assets and liabilities of the Group are summarized below: In Baht Consolidated financial statements Separate financial statements 2015 2014 2015 2014 Deferred income tax assets Allowance for doubtful accounts 3,562,016 3,110,256 3,562,016 3,110,256 Employee benefit obligations 5,666,690 4,753,118 2,604,816 1,992,218 Fair value of investment available for sale 16,929 - 16,929 - Total deferred income tax assets 9,245,635 7,863,374 6,183,761 5,102,474 Annual Report 2015 Deferred income tax liabilities Finance lease agreements (1,443,686) (384,624) (646,632) (384,624) Fair value of investment trade securities (598,587) - (598,587) - Total deferred income tax liabilities (2,042,273) (384,624) (1,245,219) (384,624) Deferred income tax assets, net 7,203,362 7,478,750 4,938,542 4,717,850 The movement in the deferred income tax account is as follows In Baht Consolidated financial statements 2014 Charged (credited) to profit or loss Charged to other comprehensive income Deferred income tax assets Allowance for doubtful accounts 3,110,256 451,760 - 3,562,016 Employee benefit obligations 4,753,118 93,931 819,641 5,666,690 available for sale - - 16,929 16,929 Total deferred income tax assets 7,863,374 545,691 836,570 9,245,635 Deferred income tax liabilities Finance lease agreements (384,624) (1,059,062) - (1,443,686) trade securities - (598,587) - (598,587) Total deferred income tax liabilities (384,624) (1,657,649) - (2,042,273) Deferred income tax assets, net 7,478,750 (1,111,958) 836,570 7,203,362 2015 227
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SCI Annual Report 2015

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