Page 205 - Amata-one-report2020-en

BUSINESS OPERATION AND OPERATING RESULTS CORPORATE GOVERNANCE FINANCIAL STATEMENTS ENCLOSURES

c) Lease liabilities

Movement of lease liabilities for the year ended 31 December 2020 are summarised below:

(Unit: Million Baht)
Consolidated arate
S
ep
financial statements financial statements
2020 2019 2020 2019
Lease payments 1,458 - 18 -
Less: Deferred interest expenses (962) - (1) -

Total 496 - 17 -
Less: Portion due within one year (35) - (8) -
Lease liabilities - net of current portion 461 - 9 -

(Unit: Million Baht)
ep
Consolidated
S
a
te
a
r
financial statements financial statements
Net book value as at 1 January 2020 334 21
Add: Increase during the period 189 4
Recognised as interest during the year 27 -
Less: Leases modification (12) -
Paid during the year (42) (8)

Net book value as at 31 December 2020 496 17

During the fourth quarter of the current year, the subsidiary received the assignment of the
land-use rights for 50 years from the Myanmar government agency for 200.468 acres of
land with the rental rate of USD 0.1 per square meter per annum. The subsidiary recorded
right-of-use assets and lease liabilities amounting to Baht 117 million. Right-of-use assets

will be amortised by the number of right years that subsidiary retains the right, and lease
liabilities will be transferred to equity in full amount upon completion of share transfer to the
Myanmar government agency or equivalent 4,046,860 shares of 1 USD per share or 20%

of total shares of Yangon Amata Smart and Eco City Limited (“YASEC”) as the equity in
kind for long- term land lease following the Joint Venture Agreement to invest in
development of Smart & Eco City and industrial Estate in Yangon Region, Union of Myanmar.

Amata Corporation Public Company Limited 52 205