Page 59 - Annual report eng 2019
P. 59
Tycoons Worldwide Group (Thailand) Plc.
Further details regarding the aging of accounts receivable are as set out below:
Unit: MB
Dec 31, 2019 Dec 31, 2018
Inter- company A/R 58 403
A/R –unrelated parties 546 463
Total A/R 604 866
Aging of A/R-unrelated parties
Past due 173 197
Up to 3 months 330 204
3 months up to 6 months 11 11
6 months up to 12 months 4 3
Over 12 months 33 47
Sub-total 546 463
Less Allowance for doubtful A/C (34) (48)
Total A/R - net 570 818
Accounts Receivable turnover has been increased from 13.66 times of year 2018 to 14.43
times of year 2019. It’s because the extent of sales increase less than average accounts
receivable increase, resulted in A/R collection period decreasing 0.96 days from 27.31 days of
year 2018 to 26.35 days of year 2019.
(2) Liquidity
Cash flow
TYCN had a net decrease in cash and cash equivalents at year-end 2019 of 160MB.
Cash and cash equivalents at the end of 2019 amounted 424MB the change in cash flow
amount was due to:
Net cash flow from operating 219 MB
Net cash flow from investing -157 MB
Net cash flow from financing -222 MB
Net increase in cash -160 MB
Net cash flow from operating activities was positive 219MB, mostly due to
decrease of trade and other payables and inventories.
Net cash flow from investing was negative 157MB mainly because of the
purchasing new machinery and investing in associated companies.
Net cash flow from financing was negative 222MB mainly repayment of long-term and
short-term loans from financial institutions.
Liquidity ratios
The company’s current ratio has been decreasing standing at 1.28 and 1.32 in the years
2019 and 2018 respectively, Without significant differences.
Effects from the maturity of current liabilities on the liquidity
In 2019, 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 three items are payable within one year. As mentioned before,
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