Page 99 - Anual report STi 2022_eng

In addition, the STI Group regularly monitors the outstanding ● The impact of the COVID situation is causing some

balance of trade accounts receivable, and the STI Group's works to have an extension of the delivery period, which will
lending is highly concentrated since the STI Group has a large be charged to the employer once the work has been delivered.
customer base and is in a variety of industries. The STI Group expects that the situation will begin to subside

Unbilled Receivables in 2023.
The STI Group considers recognizing revenue from Other Current Financial Assets
services according to the percentage of completion of each As at December 31, 2021 - 2022, the STI Group had

project. By considering the ratio between the actual cost other current financial assets of 31.42 million baht and 48.63
of services incurred and the estimated cost of services million baht, respectively, or 1.61 percent and 2.27 percent
expected to be used to provide services until the end of the of total assets each year which is prepared to support business
project, the revenue from the service may not be equal to the growth and be used as working capital for the business, such
service fee charged by the employer. In the event that the as investment in fixed income funds.
STI Group has revenue from services recognized based on Other Current Assets
the percentage of completion, the amount recognized is
higher when compared to the service fees charged by the The STI Group has other current assets as at December
employer. The difference will be recorded as unpaid revenue 31, 2021 - 2022 in the amounts of 56.33 million baht and

in the financial statements. 33.87 million baht, respectively, or representing 2.89 percent
and 1.58 percent of total assets for each year. The main
As at December 31, 202x1 - 2022, the STI Group has items of other current assets consist of withholding taxes and
unbilled receivables of 972.57 million baht and 1,109.00 advance payments to subcontractors, etc.
million baht, respectively, or 49.97 percent and 51.76 percent
of total assets. The STI Group's unbilled receivables increased Investment Property

by 136.43 million baht, or 14.03 percent, compared to the The STI Group had investment properties as at December
previous year. This is mainly caused by the following situations: 31, 2021 - 2022, in the amount of 20.66 million baht and
20.66 million baht, respectively, or representing 1.06 percent
● Providing consulting services for consulting and

project management during periods where a high proportion and 0.96 percent of total assets. The details of the value of
of manpower is required to provide services. As a result, the investment properties are as follows:
cost of service and revenue can be recognized based on the Investment Properties of the STI Group
percentage of completion of the project in a higher proportion as at December 31, 2021 - 2022
compared to other periods of the project. While most projects
provide consulting services, management services, and Consolidated financial

construction supervision, there is a schedule for charging Capital Price statements as at
service fees from the employer at the same rate throughout (Unit : Million Baht) December December
the service period. As a result, the revenue from the service 31, 2021 31, 2022

during that period is higher when compared to the service 1. Land area of 6-0-92.1 rai, 4.58 4.58
fees collected from the employer. Khon Kaen
● The STI Group has provided services to the employer 2. Land area of 5-0-10 rai, 18.28 18.28

and recognized revenue according to the percentage of Chiang Mai
completion, but the date on which the STI group can collect (Reduction) allowance (2.20) (2.20)
money from the employer has not yet reached the closing for impairment
date of the financial period according to the conditions Net total of investment 20.66 20.66
specified in the service contract. As a result, the service properties
revenue is higher when compared to the service fees
collected from the employer.
Stonehenge Inter Public Company Limited 97