Page 97 - Annual report eng 2019

Tycoons Worldwide Group (Thailand) Plc.

17. Long-term loans from financial institutions
(Unit: Thousand Baht)
Financial statements in which equity
Interest rate method is applied/
Loan (%) Repayment schedule Separate financial statements
2019 2018
1 MLR - 0.50 Monthly installments as from February
2015 totaling 48 installments - 8,000
2 MLR - 0.75 Monthly installments as from October
2016 totaling 60 installments 46,000 70,000
3 6.50 Monthly installments as from February
2019 totaling 60 installments 52,078 -
Total 98,078 78,000
Less: Portion due within one year (56,310) (32,000)
Long-term loans, net of current portion 41,768 46,000

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 14 to the financial

statements.

Some loan agreements contain covenants relating to, among other matters, the holdings of the
current shareholders.

18. 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)
Financial statements
in which equity method
is applied/
Consolidated/Separate

financial statements
2019 2018
Provision for long-term employee benefits at beginning of year 22,643 20,187
Included in profit or loss:
Current service cost 2,154 1,871
Past service cost 8,863 -
Interest cost 635 585
Included in other comprehensive income:
Actuarial losses arising from
Demographic assumptions changes (1,988) -
Financial assumptions changes 4,288 -

Experience adjustments 461 -
Provision for long-term employee benefits at end of year 37,056 22,643
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