COMMITMENTS AND CONTINGENT LIABILITIES. 33.1 Purchase construction materials and subcontracted work commitments As at December 31, 2022, the Group have outstanding commitments of Baht 3,734 million and USD 1 million in respect of purchase construction materials and subcontracted work (the Company only: Baht 391 million and USD 1 million ) (December 31, 2021 : Baht 4,944 million and USD 1 million in respect of purchase construction materials and subcontracted work (the Company only: Baht 407 million and USD 1 million )).
33.2 Operating lease commitments The Group have entered into lease agreements in respect of the lease of land, machines, motor vehicles and equipment. The terms of the agreements are generally between 1 and 5 years. Future minimum lease payments required under these non-cancellable operating lease contracts were as follows. Payable : In up to 1 year 4 3 2 1 In over 1 and up to 5 years - - - -
33.3 Service agreement commitments The Group have entered into service agreements in respect of the consultant and security. The terms of the agreements are generally between 1 and 2 years. Future minimum lease payments required under these non-cancellable operating leases contracts were as follows. Payable : In up to 1 year 1 1 1 1
33.4 Bank guarantees As at December 31, 2022 and 2021, bank guarantees issued by banks on behalf of the Group in respect of certain performance bonds as required in the normal course of business were as follows. Consolidated financial statements Separate financial statements As at December 31, As at December 31, 2022 2021 2022 2021 Guarantee of construction contract and bidding 1,330 1,372 424 421 Guarantee of advance payment bond and retention 1,511 1,682 192 194 Guarantee of others 153 187 108 118 Total 2,994 3,241 724 733 As at December 31, 2022, the Group had the obligations from related parties to use the letter of guarantee of the Group amounted Baht 341 million (December 31, 2021 : Baht 337 million).
COMMITMENTS AND CONTINGENT LIABILITIES. 24.1 Commitments relating to lease and service agreements commitments As at June 30, 2020 and December 31, 2019, the Company had commitments on lease and service agreements were as follows: Thousand Baht As at June 30, 2020 As at December 31, 2019 Not later than one year 1,169 23,437 Later than one year and not later than five years 603 35,343 Later than five years - 2,720 Total 1,772 61,500 As at June 30, 2020, the Company had no obligations under lease agreements as a result of the adoption of the TFRS 16 as at January 1, 2020. The Company recognized the lease liabilities previously classified as operating lease at the present value of the remaining lease payments, discounted incremental borrowing rate, as described in Note 4.2 to the interim financial statements.
24.2 Commitments relating to forward foreign exchange contracts As at June 30, 2020, the Company had forward exchange contracts with financial institutions totaling U.S. Dollars 2.64 million (equal to Baht 83.35 million) with maturity date in November 2020. As at December 31, 2019, the Company had forward exchange contracts with financial institutions totaling U.S. Dollars 3.00 million (equal to Baht 90.83 million) with maturity date in May 2020.
24.3 Commitments relating to outstanding letters of credit As at June 30, 2020 and December 31, 2019, the Company had commitments for the outstanding letters of credit amounting equivalent to U.S. Dollars 0.83 million (equal to Baht 25.77 million) and U.S. Dollars 0.54 million (equal to Baht 16.39 million), respectively.
24.4 Commitment relating to capital expenditure As at June 30, 2020 the Company has commitment to pay under the purchase of land agreement totaled Baht 71.84 million. The Company has an outstanding commitment under the agreement amounted Baht 64.66 million.
24.5 Commitment relating to purchase of raw material agreements As at June 30, 2020 and December 31, 2019, The Company entered into memorandum and agreements to purchase raw materials from several unrelated companies, at prices and per conditions as stipulated in the memorandum and agreements. The terms of the memorandum and agreements are between 4 and 6 months. The Company has an outstanding commitment under the agreement amounted U.S. Dollars 2.04 million (equal to Baht 63.37 million) and U.S. Dollars 2.03 million (equal to Baht 61.49 million), respectively.
24.6 Contingent liabilities relating to electricity usage agreement As at June 30, 2020 and December 31, 2019, the Company ...
COMMITMENTS AND CONTINGENT LIABILITIES. 24.1 Operating lease and service agreement commitments As at September 30, 2020 and December 31, 2019 future minimum lease payments under these operating leases contracts were as follows. Thousand Baht Consolidated financial statements Separate financial statements As at September As at December As at September As at December 30, 2020 31, 2019 30, 2020 31, 2019 Commitment Within 1 year 3,168 7,378 811 2,038 In over 1 and up to 5 years 77 6,293 77 658 In over 5 years - 8,122 - - Total 3,245 21,793 888 2,696 As at September 30, 2020, the Company and its subsidiaries had no obligations under lease agreements and related service agreements as a result of the adoption of the TFRS 16 as at January 1, 2020. The Company and its subsidiaries recognized the lease liabilities previously classified as operating lease at the present value of the remaining lease payments, discounted incremental borrowing rate, as described in Note 19 to the interim financial statements.
24.2 Agreement regarding the acquisition of rights to distribute electricity from solar energy The Company and subsidiaries entered into agreements with many counterparties regarding the acquisition of the right to distribute electricity from solar energy as follows: On August 23, 2018, the Company entered into the third-party agreement between the Company (transferee), Provincial Electricity Authority (counterparty) and X.X Solar Co.,Ltd. (subsidiary) (transferor) to amended in the Power Purchase Agreement for the purchase of electricity from solar power generation installed on the roof in order to transfer all rights and obligations under the agreement to the Company that received the rights to distribute solar electricity current installed on the roof with the Provincial Electricity Authority according to the contract No. PV-PEA 0065/2556 dated September 6, 2013, in which PEA purchases 995 kilowatts of electricity for a period of 25 years, starting from December 30, 2013 to December 30, 2038 at the determined rate according to the production volume, which is Baht 6.16 per unit. On January 21, 2019, the Company also received the approval for transfer the tax privilege from investment promotional to the parent company as stated.
COMMITMENTS AND CONTINGENT LIABILITIES. Construction and Capital Expenditures It is estimated that CSW, including the U.S. Electric Operating Companies, SEEBOARD and other diversified operations, will spend approximately $569 million in capital expenditures (but excluding capital that may be required for acquisitions) during 1998. Substantial commitments have been made in connection with these programs. Fuel and Related Commitments To supply a portion of their fuel requirements, the U.S. Electric Operating Companies have entered into various commitments for the procurement of fuel.
COMMITMENTS AND CONTINGENT LIABILITIES for a discussion of CSW's investments and commitments in CSW Energy projects at December 31, 1997. In January 1997, CSW received authority from the SEC under the Holding Company Act to spend an amount up to 100% of consolidated retained earnings on EWG or FUCO investments. This represents an increase in authority previously granted under the Holding Company Act. However, the amount of any such expenditures is subject to the terms of the AEP merger agreement. As of December 31, 1997, CSW had invested an amount equal to 49% of consolidated retained earnings, as defined by rule 53 of the Holding Company Act, on EWG and FUCO investments. For a description of certain restrictions on the ability of CSW and its subsidiaries to make capital expenditures in respect of qualifying facilities and independent power facilities and to make EWG and FUCO investments, see PROPOSED AEP MERGER.
COMMITMENTS AND CONTINGENT LIABILITIES. 22.1 Commitments
a) The Company had commitments of approximately USD 1.3 million and USD 1.4 million in relation to purchase of raw materials, respectively.
b) As at June 30, 2009, the Company and its subsidiaries have commitments relating to the lease agreements for land, head office buildings, godown, office equipments, vehicles and service fee whereby future payments are required in the following amounts: - Payable within Million Baht 1 year 32.14
c) Under commitment revealed on b), as at June 30, 2009 the Company and a subsidiary committed with two domestic companies in respect to long-term lease agreement for rental forklift of 29 units and vehicle of 4 units, the term of agreements covering for 4 to 5 years long, commencing from April 2006 and terminating in December 2011. The Company and a subsidiary shall paid monthly rental charge for the forklift of 29 units in totaling of Baht 536,000.00 (excluding VAT) through 48 months of the lease term and shall paid for monthly rental charge of the vehicle of 4 units in totaling of Baht 91,000.00 (excluding VAT) since the first month until the sixtieth month (1 to 60).
22.2 Bank guarantees
22.3 Guarantee
COMMITMENTS AND CONTINGENT LIABILITIES. 24.1 Lease and service agreement commitments As at June 30, 2021 and December 31, 2020 the Group had future minimum lease payments under these leases’ agreements were as follows: Consolidated financial statements Separate financial statements As at June As at December As at June As at December 30, 2021 31, 2020 30, 2021 31, 2020 Within 1 year 8,258 4,671 1,638 498 In over 1 and up to 5 years 4,428 2,401 233 95 Total 12,686 7,072 1,871 593
24.2 Agreement regarding the acquisition of rights to distribute electricity from solar energy The Group entered into agreements with many counterparties regarding the acquisition of the right to distribute electricity from solar energy as follows:
24.2.1 On August 23, 2018, the Company entered into the third-party agreement between the Company (transferee), Provincial Electricity Authority (counterparty) and X.X Solar Co.,Ltd. (subsidiary) (transferor) to amended in the Power Purchase Agreement for the purchase of electricity from solar power generation installed on the roof in order to transfer all rights and obligations under the agreement to the Company that received the rights to distribute solar electricity current installed on the roof with the Provincial Electricity Authority according to the contract No. PV-PEA 0065/2556 dated September 6, 2013, in which PEA purchases 995 kilowatts of electricity for a period of 25 years, starting from December 30, 2013 to December 30, 2038 at the determined rate according to the production volume, which is Baht 6.16 per unit. On January 21, 2019, the Company also received the approval for transfer the tax privilege from investment promotional to the parent company as stated.
24.2.2 SK-1 Power Co., Ltd. (subsidiary) has entered into an amendment of the power purchase agreement for the purchase of electricity from solar power generation with Metlink Info Co., Ltd. that has been granted rights to the Provincial Electricity Authority to receive the rights to generate and distribute electricity current according to the same conditions in which the transferor made with the PEA for the project period of 25 years. The subsidiary has entered into an agreement to be a sponsor of the solar power plant project, installed on the ground, to use rights from the project owner. The subsidiary will pay the project subsidy to the project owner on a yearly basis amount of Baht 3.30 million each by making after the sponsor distributed the electricity current project for 1 year (the right payment wil...
COMMITMENTS AND CONTINGENT LIABILITIES. 35.1 Purchase construction materials and subcontracted work commitments As at December 31, 2019, the Company and the subsidiary have outstanding commitments of Baht 5,070 million ,EUR 2 million and USD 1 million, in respect of purchase construction materials and subcontracted work (the Company only: Baht 690 million ,EUR 2 million and USD 1 million) (December 31, 2018 : Baht 2,683 million and USD 1 million, the Company only: Baht 167 million and USD 1 million).
35.2 Operating lease commitments The Company and its subsidiary have entered into lease agreements in respect of the lease of land, machines, motor vehicles and equipment. The terms of the agreements are generally between 1 and 5 years. Future minimum lease payments required under these non-cancellable operating lease contracts were as follows. Payable : In up to 1 year 14 19 12 17 In over 1 and up to 5 years 8 10 7 9 35.3 Service agreement commitments The Company and its subsidiary have entered into service agreements in respect of the consultant and security. The terms of the agreements are generally between 1 and 2 years. Future minimum lease payments required under these non-cancellable operating leases contracts were as follows. Payable : Consolidated financial statements Separate financial statements As at December 31, As at December 31, 2019 2018 2019 2018 In up to 1 year 3 1 2 1
35.4 Bank guarantees As at December 31, 2019 and 2018, bank guarantees issued by banks on behalf of the Company and the subsidiary in respect of certain performance bonds as required in the normal course of business were as follows. Guarantee of construction contract and bidding Baht 1,605 million- Baht 1,746 million EUR 1 million Baht 729 million- Baht 583 million- Guarantee of advance payment bond and retention Baht 1,417 million Baht 734 million Baht 407 million Baht 142 million Total Baht 3,028 million- Baht 2,487 million EUR 1 million Baht 1,141 million- Baht 731 million- As at December 31, 2019, the Company and its subsidiaries had the obligations from related parties to use the letter of guarantee of the Company and its subsidiaries amounted Baht 2 million (December 31, 2018 : Baht 2 million).
COMMITMENTS AND CONTINGENT LIABILITIES. 25.1 Purchase construction materials and subcontracted work commitments As at March 31, 2020, the Company and the subsidiary have outstanding commitments of Baht 5,028 million, EUR 0.3 million and USD 0.1 million, in respect of purchase construction materials and subcontracted work (the Company only: Baht 763 million, EUR 0.3 million and USD
0.1 million) (December 31, 2019 : Baht 5,070 million, EUR 2 million and USD 1 million, the Company only: Baht 690 million, EUR 2 million and USD 1 million).
COMMITMENTS AND CONTINGENT LIABILITIES. In the normal course of business, the Bank has outstanding various commitments to extend credit. At December 31, 2015 and 2014, the Bank had approximately $26,526,000 and $24,903,000, respectively, of such commitments, all of which were at variable rates of interest. Commitments to extend credit are agreements to lend. No material losses or liquidity demands are anticipated as a result of these commitments. The Bank had no standby letters of credit outstanding at December 31, 2015 and 2014. The Bank evaluates each customer’s creditworthiness on a case-by-case basis in accordance with the Bank’s credit policies. The amount of collateral obtained, if deemed necessary by the Bank upon extension of credit, is based upon management’s credit evaluation of the customer. Collateral held varies, but may include business assets of commercial borrowers as well as personal property and real estate of individual borrowers or guarantors. The Bank grants agribusiness, commercial, residential and installment loans to customers in the surrounding areas of its offices. Although the Bank has a diversified loan portfolio, a substantial portion of its debtors’ ability to honor their commitments is dependent upon the local economic sector. As of December 31, 2015, the Bank had $17,557,177 of loans outstanding for agricultural purposes, or secured by agricultural property.
