Page 61 - Microsoft Word - One-Report-Eng 2024 Final.docx

Tycoons Worldwide Group (Thailand) Plc.

(2) Liquidity

Cash flow
TYCN cash and cash equivalents at year-end 2024 amounted 310MB, compare to year 2023
net decrease of 184MB. Cash and cash equivalents at the end of 2024 amounted 494MB the
change in cash flow amount was due to:
Net cash flows used in operating activities 285 MB
Net cash flows used in investing activities 319 MB
Net cash flows from financing activities 420 MB
Net decrease in cash and cash equivalents 184 MB
Net cash flow used in operating activities was 285MB, mostly due to the increase in inventories and
accounts receivable increased.
Net cash flow used in investing was 319MB mainly due to increase in fixed assets.
Net cash flow from financing was 420MB mainly due to the increase in short-term loans from
financial institutions.

Liquidity ratios
The Company’s current ratio has been decreasing standing at 1.51 and 2.13 in the years 2024 and
2023 respectively.

Effects from the maturity of current liabilities on the liquidity
In 2024, short-term loans from financial institutions and trade and other payables as well as current
portion of long-term loans have accounted for a large proportion of current liabilities. These first two
items are payable within one year. As mentioned before, however, these loans were used to
purchase raw materials for normal business operations. As a result, the company believes that the
short-term maturity of such current liabilities should not adversely affect the company’s liquidity.

Accounts payable turnover has been decreased from 27.89 times of year 2023 to 19.85 times of
year 2024. It’s because accounts payable period of purchase of raw materials got longer, the
payment period increase 5.23 days from 12.91 days of year 2023 to 18.14 days of year 2024.

(3) Capital expenditure
Capital expenditures amounted to 202MB and 126MB for the year 2024 and 2023 respectively.

(4) Sources of funds

Funds structure
The debt to equity ratio was 0.41 times and 0.23 times between the years 2024 and 2023. The debt
to assets ratio was 0.29 and 0.19 between 2024 and 2023. This indicated that TYCN had only a
small amount of risk and a healthy financial structure.

Shareholders’ equity

As of December 31, 2024, shareholders’ equity was 4,201MB, decrease of 10.19% or 477MB from
year 2023. This was due to net loss in 2024.

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