Page 65 - PSTC - One Report 2023 (EN)

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Power Solution Technologies Public Company Limited
2) Analysis of the Financial Position of the Group
Summary of Assets
Trade and other receivables
Assets arising from contracts
Assets held for sale
Other current assets Investments in joint ventures
Land, buildings, and equipment
Other non-current assets
(1) Percentage of total assets
Trade and Other Receivables
323.8 4.4% 360.5 4.9% 36.7 11.3%
Assets (million baht)
31 Dec 2022
% (1)
31 Dec 2023
% (1)
Change
% Change
Assets
168.9 2.3% 75.0 1.0%
311.4 4.3% 223.6 3.0%
298.6 4.1% 232.9 3.1%
(93.9) -55.6%
(87.8) -28.2%
(65.7) -22.0%
Total current assets
1,102.8
15.1%
892.0
12.0%
(210.8)
-19.1%
3,785.4 51.7%
1,596.2 21.8%
838.9 11.5%
4,022.4 54.3%
1,495.0 20.2%
996.8 13.5%
237.0
(101.2)
157.9
6.3%
-6.3%
18.8%
Total non-current assets
6,220.5
84.9%
6,514.2
88.0%
293.7
4.7%
Total assets
7,323.3
100.0%
7,406.2
100.0%
82.9
1.1%
Trade receivables as of December 31, 2022, increased by 36.7 million baht from the previous year mainly due to trade receivables from LPG gas sales and receivables from construction projects billings.
As of December 31, 2023, the Group has set up an allowance for doubtful accounts for trade and other receivables, totaling 37.4 million baht. Most of these doubtful accounts are trade receivables from LPG sales, for which the full allowance for doubtful accounts has been set, and some of them being construction trade receivables that are subject to ongoing legal proceedings.
Assets Arising From Contracts
Assets arising from contracts as of December 31, 2023, decreased by 93.9 million baht from the previous year due to billing during the period.
Assets Held for Sale
Assets held for sale as of December 31, 2023, decreased by 87.8 million baht from the previous year due to the setting of allowance for impairment of assets and the impairment recognized by measuring their value to fair value less cost of sales.