Page 104 - Annual report eng 2019

Tycoons Worldwide Group (Thailand) Plc.

25. Commitments and contingent liabilities

As at 31 December 2019, the Company had the following outstanding commitments and
contingent liabilities.

25.1 Raw material purchase commitments

The Company entered into raw material purchase agreements amounting of USD 13
million (2018: USD 11 million). The materials will be shipped to the Company within 90
- 180 days from the contract dates.

25.2 Guarantees

There were outstanding bank guarantees of approximately Baht 57 million (2018: Baht 57
million) issued by banks on behalf of the Company in respect of certain performance bonds to
guarantee electricity use among others.

26. Fair value hierarchy

As at 31 December 2019 and 2018, the Company had the assets and liabilities that were
measured at fair value using different levels of inputs as follows:
(Unit: Million Baht)
Financial statements in which equity method is applied/
Separate financial statements

As at 31 December 2019
Level 1 Level 2 Level 3 Total
Financial assets measured at fair value
Derivatives
Foreign currency forward contracts - 0.6 - 0.6
Financial liabilities measured at fair value
Derivatives
Foreign currency forward contracts - 1.4 - 1.4

(Unit: Million Baht)
Financial statements in which equity method is applied/
Separate financial statements
As at 31 December 2018
Level 1 Level 2 Level 3 Total
Financial liabilities measured at fair value
Derivatives
Foreign currency forward contracts - 9.2 - 9.2

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