Page 136 - ACC One Report 2567-En

ADVANCED CONNECTION CORPORATION PUBLIC COMPANY LIMITED AND ITS SUBSIDIARIES NOTES TO FINANCIAL STATEMENTS
DECEMBER 31, 2024
136
In year 2009, the Company entered into a loan agreement with the Company. Thanya Rungruangchai Mill (Thailand) Co., Ltd. (“Thanya Rungruangchai”) in the amount of 70 million baht. Later in 2010, the Company and Thanyarungrueangchai agreed to transfer some of the accrued interest in the amount of 6.68 million baht as part. Of the principal amount. However, Thanyarungrueangchai defaulted on repayment and negotiated for relief several times.
The loan is guaranteed by 800,000 ordinary shares of Thanyarungruangchai of one shareholder, with a par value of 100 baht per share , and an executive of Thanyarungruangchai is a co-guarantor.
The Company's management has appointed a lawyer to apply for debt payment in the case that Thanya Rungruangchai (Thailand) Company Limited filed a petition for business rehabilitation with the Central Bankruptcy Court. The Company recorded an allowance for expected credit losses. Increase the entire amount of said loan.
Annual Report 2024 (Form 56-1 One Report) 38 Advanced Connection Corporation Public Company Limited
9.1 Loansandaccruedinteresttounrelatedparties/companies As at December 31, 2024 and 2023 consisted of :
Loans to unrelated parties / companies Less Allowance for expected credit loss Net
December 31, 2024 85,832 (85,832) 71,754 -
December 31, 2024 252,555 (88,989) 163,566
December 31, 2023 160,743 (88,989)
Consolidated
(Unit : Thousand Baht) Separate
December 31, 2023 85,832 (85,832) -
Movements of loans and accrued interest – unrelated parties / companies during the year ended December 31, 2024 are as follows:
Loans to unrelated parties / companies Principle
Accrued interest
Less Allowance for expected credit loss Net
Increase (Decrease)
109,500 (19,390) 21,210 (19,508) 130,710 (38,898) - - 130,710 (38,897)
foreclosed property
9.1.1. Loans and accrued interest – unrelated companies
As at January 1, 2024
148,463 12,280 160,743 (88,989) 71,754
Consolidated
Transfer as
(Unit :
Thousand Baht)
As at December 31, 2024
238,573 13,982 252,555 (88,989) 163,566
- - - - -