Page 78 - Annual Report English 2018

Tycoons Worldwide Group (Thailand) Plc.

Tycoons Worldwide Group (Thailand) Public Company Limited and its subsidiary

Notes to consolidated financial statements
For the year ended 31 December 2018

1. General information

Tycoons Worldwide Group (Thailand) Public Company Limited (“the Company”) is a
public company incorporated and domiciled in Thailand. Its parent company is Tycoons
Group International Co., Ltd. which was incorporated in Cayman. The parent company
of the group is Tycoons Group Enterprise Co., Ltd which was incorporated in Taiwan.

The Company is principally engaged in the manufacture and distribution of steel wire
rods, steel annealing wire, reinforced concrete bar, steel screw and wire products.
The registered address is at 99 Moo 1, Tambol Nikompattana, Amphur Nikompattana,
Rayong.

2. Basis of preparation

2.1 The financial statements have been prepared in accordance with Thai Financial
Reporting Standards enunciated under the Accounting Profession Act B.E. 2547 and

their presentation has been made in compliance with the stipulations of the Notification
of the Department of Business Development dated 11 October 2016, issued under the
Accounting Act B.E. 2543.

The financial statements in Thai language are the official statutory financial statements
of the Company. The financial statements in English language have been translated

from the Thai language financial statements.
The financial statements have been prepared on a historical cost basis except where

otherwise disclosed in the accounting policies.

2.2 Basis of consolidation
a) The consolidated financial statements include the financial statements of Tycoons

Worldwide Group (Thailand) Public Company Limited (“the Company”) and the
following subsidiary company (hereinafter called as “the Group”):

Country of Percentage of
Company’s name Nature of business incorporation shareholding
2018 2017
Percent Percent
All Manage International Limited Holding company British Virgin Islands - 100

68