Page 114 - TYCONS - ANNUAL REPORT 2022

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 2022

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, 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 (“the subsidiary”) (collectively as “the Group”):

Country of Percentage of
Company’s name Nature of business incorporation shareholding
2022 2021
(Percent) (Percent)

Invest in real estate
K D B Company limited projects Thailand 44.99 44.99

100