Page 101 - Anual report STi 2022_eng

Accounts Payable As at December 31, 2022, the STI Group had revenue

As at December 31, 2021 - 2022, the STI Group has trade received in advance and advances received from customers
accounts payable of 138.70 million baht and 184.59 million decreased by 30.89 million baht, representing a decrease of
baht, respectively, or 7.13 percent and 8.62 percent of total 12.61 percent compared to the previous year. The service

liabilities and shareholders' equity each year. The main revenue received in advance and the money received
component of the trade payable of the STI Group is the cost in advance from customers will change according to the
of sub-contractor to perform work related to the provision of difference between the service fee collected from customers
services that are not yet due in each installment. and the service revenue in each period. There are 2 main
reasons: (1) receiving advance payments from customers
As at December 31, 2022, the STI Group had an increase when they are hired at the beginning of the contract; and (2)

in trade payables of 45.89 million baht, or 33.09 percent, providing management consulting services and supervising
compared to December 31, 2021. Most of which is a result the construction during periods where a low proportion of
of the increase in the cost of sub-contractor that are not yet personnel is required. As a result, the cost of service and
due at the end of the period each year.
revenue can be recognized according to the percentage of
Other Account Payable completion of the work in a lower proportion compared to
As at December 31, 2021 - 2022 , the STI Group has other periods of the project. While most projects provide

other payables in the amount of 55.86 million baht and 59.91 consulting services, management services, and construction
million baht, respectively, or 2.87 percent and 2.80 percent supervision, there is a schedule for charging service fees from

of total liabilities and shareholders' equity, respectively, each the employer at the same rate throughout the service period.
year. The other payables of the STI Group consist primarily As a result, the amount of service fees charged to the
of dividend payables, accrued expenses of employee, accrued employer is higher when compared to the service revenue
professional fees, and payables to the Revenue Department during that period.
of the STI Group that are not yet due each year. Other Current Liabilities

Service Income Received in Advance and Advances The STI Group has other current liabilities as at December
Received from Customers 3, 2021 - 2022 in the amounts of 26.41 million baht and

Since the STI Group recognizes revenue from services 33.30 million baht, respectively, or representing 1.36 percent
according to the percentage of completion of each project, and 1.55 percent of total liabilities and shareholders' equity
the revenue from services may not be equal to the service for each year. The main items of other current liabilities
fees charged to the employer. In the event that the STI Group consist of withholding tax payable, deferred output tax, etc.
collects a higher amount of service fees from the employer Long-Term Loans from Financial Institutions
when compared to the revenue from services recognized As at December 31, 2021 - 2022, the STI Group had
according to the percentage of completion, the difference will long-term loans from financial institutions amounting to

be recorded as revenue received in advance and advances 126.97 million baht and 102.85 million baht, respectively, or
received from customers.
representing 6.52 percent and 4.80 percent of total liabilities
As at December 31, 2021 - 2022, the STI Group has and shareholders' equity each year. The STI Group's
revenue from services received in advance and advances long-term loans from banks decreased by 24.12 million baht
received from customers in the amounts of 245.03 million as a result of their repayment in the year. These can be

baht and 214.14 million baht, respectively, or representing divided into current portion of long-term loans in the amount
12.59 percent and 10.00 percent of liabilities and total of 22.86 million baht and long-term loans due more than one
shareholder equity for each year. year in the amount of 79.99 million baht.

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