Page 98 - Annual Report English 2018

Tycoons Worldwide Group (Thailand) Plc.

18. Long-term loans from financial institutions

(Unit: Thousand Baht)
Financial
statements in
which equity
method is applied/ Consolidated/
Interest rate Separate financial Separate financial
Loan (%) Repayment schedule statements statements
2018 2017
1 MLR - 0.50 Monthly installments as from February
2015 totaling 48 installments 8,000 104,000
2 MLR - 0.75 Monthly installments as from October
2016 totaling 60 installments 70,000 85,000
Total 78,000 189,000
Less: Portion due within one year (32,000) (111,000)
Long-term loans, net of current portion 46,000 78,000

The long-term loans are guaranteed by the Company’s director, the ultimate parent
company, the pledged of fixed deposits as described in Note 11 to the financial

statements and the mortgaged of most of its property, plant and equipment as
described in Note 15 to the financial statements.

Some loan agreements contain covenants relating to, among other matters, the
maintenance of certain financial ratios and the holdings of the current shareholders.

19. Provision for long-term employee benefits

Provision for long-term employee benefits, which represents compensation payable to
employees after they retire from the Company, was as follows:

(Unit: Thousand Baht)
Consolidated/Separate
financial statements

2018 2017
Provision for long-term employee benefits at beginning of year 20,187 15,935
Included in profit or loss:
Current service cost 1,871 1,534
Interest cost 585 526
Included in other comprehensive income:
Actuarial losses arising from
Demographic assumptions changes - 963

Financial assumptions changes - 1,193
Experience adjustments - 36
Provision for long-term employee benefits at end of year 22,643 20,187

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