Ratchaburi Electricity Generating Holding PCL.
159
Ratchaburi Electricity Generating Holding Public Company Limited and its subsidiaries
Notes to the financial statements
38
Long-term loans to related parties
The Company granted loans to SouthEast Asia Energy Limited, Vientiane Branch, a jointly-controlled
entity, amounting to Baht 62.50 million which bear interest at the rates as stipulated in the agreement.
The Company recorded such loans as loans due within one year since the loan agreement determines
the repayment term of principal and interest within 30 months commencing from the signing date in
the Shareholders’ Loan Agreement or the loan approval date from the financial institutions to the
jointly-controlled entity, whichever is the earlier. However, on 12 February 2010, 31 August 2011 and
17 September 2012, the Company has amended the loan agreement with such jointly-controlled entity
by extension of the period of repayment and its interest which was due on 4 September 2013. However
during 2013, such jointly-controlled entity made repayment to the Company in full amount.
The Company granted loans to Ratch-Lao service Company Limited, a subsidiary, amounting to U.S.
Dollars 36 million or equivalent to Baht 1,172.86 million which bear interest at the rates as stipulated
in the agreement. Principle and interest will be due as stipulated in the agreement. The Company has
no intention to recall such loans from the subsidiary within one year. Therefore, the Company
classified such loans and its accrued interest receivable as long-term loans and other long-term
receivable to related party, respectively.
During 2013, RH International (Singapore) Corporation Pte. Ltd., an indirect subsidiary, granted loans
to RATCH-Australia Corporation Limited, a subsidiary of such indirect subsidiary, amounting to
Australian Dollars 250 million or equivalent to Baht 7,365 million which bear interest at the floating
rate of Bank Bill Swap Bid Rate
(BBSY), announced by Reuters, plus fixed margin per annum.
Principal and interest will be due as stipulated in the agreement.
Long-term loans from related party
RATCH-Australia Corporation Limited, an indirect subsidiary, had a long-term loan agreement for a
30 year term with another related party in Australia amounting to Australian Dollars 125.93 million.
During 2012, RH International (Singapore) Corporation Pte. Ltd., a major shareholder of such indirect
subsidiary, made a partial repayment of such loan for transferring such loan from another related party
of such indirect subsidiary amounting to Australian Dollars 86.20 million. Since 1 January 2013, such
indirect subsidiary had converted the interest rate to the floating rate of Bank Bill Swap Bid Rate
(BBSY), announced by Reuters, plus fixed margin per annum. As at 31 December 2013, such indirect
subsidiary had outstanding balance of long-term loan from another related party amounting to
Australian Dollars 39.74 million or equivalent to Baht 1,157.18 million.
During 2013, such indirect subsidiary made a repayment of such loan from another related party
amounting to Australian Dollars 2 million. As at 31 December 2013, such indirect subsidiary had also
a long-term loan from another related party amounting to Australian Dollars 1 million or equivalent to
Baht 29.11 million with bear interest at the floating rate of Bank Bill Swap Bid Rate
(BBSY),
announced by Reuters, plus fixed margin per annum. The lender has no intention to recall such loans
from such subsidiary within one year. Therefore, the Company classified such loan as long-term loan.
otes to the financial statements
Ratchaburi Electricity Generating Holding Public Company Limited and its subsidiaries
