Page 94 - Annual Report English 2018

Tycoons Worldwide Group (Thailand) Plc.

12. Investment in subsidiary

Details of investment in subsidiary as presented in separate financial statements are
as follows:
(Unit: Thousand Baht)
Nature of Country of
Company’s name business incorporation Shareholding percentage Paid-up capital Cost
2018 2017 2018 2017 2018 2017
(%) (%)
All Manage International Holding British Virgin - 100 - USD 3 million - 97,395
Limited company Islands
Less: Allowance for impairment loss on investment - (97,395)
Investment in subsidiary - net - -
During the year, the Company received the return of all capital invested amounting to

approximately Baht 24.5 million in All Manage International Limited, which has
registered its dissolutions.

13. Investment in associate

13.1 Details of an associate:
(Unit: Thousand Baht)
Financial statement in
which equity method
is applied/
Consolidated Separate
financial statements financial statements
Carrying amounts
Country of Shareholding based on
Company’s name Nature of business incorporation percentage equity method Cost
2018 2017 2018 2017 2018 2017
(%) (%)
TY Steel Company Manufacture and Thailand 30.57 30.57 410,243 459,535 730,663 730,663
Limited distribution of
steel billet
Total 410,243 459,535 730,663 730,663

The Company has placed the shares of this associated company with banks as
security for a syndicated loan granted to the associated company by overseas banks.

13.2 Share of loss

During the years, the Company has recognised its share of loss from investment in
associate in the consolidated financial statements as follows:

(Unit: Thousand Baht)
Consolidated financial statements
Share of loss from investment in
Company’s name associate during the year
2018 2017

TY Steel Company Limited (49,292) (74,962)

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