Page 247 - E-BOOK

Accounting by lessors under TFRS 16 is substantially unchanged from TAS 17. Lessors will
continue to classify leases as either operating or finance leases based on the same principles
as stated in TAS 17.

The Company has adopted financial reporting standards which the cumulative effect of initially

applying these standards is recognised as an adjustment to retained earnings as at 1 January
2020 (if any). Therefore, the comparative information was not restated.

The cumulative effects of changes in accounting policies is described in Note 7.

Accounting Guidance on Temporary Relief Measures for Entities Providing Assistance

to Debtors Impacted by Situations that Affect the Thai Economy

The Federation of Accounting Professions announced Accounting Guidance on Temporary
Relief Measures for Entities Providing Assistance to Debtors Impacted by Situations that

Affect the Thai Economy. Its objectives are to provide temporary relief measures solely for
entities providing assistance to debtors impacted by the situations that affect only the Thai
economy, such as COVID-19, economic conditions, trade wars and drought, and to provide

an alternative for all entities providing assistance to debtors in accordance with measures to
assist debtors specified in the circular of the BOT No. BOT.RPD.(23)C. 276/2563 “Guidelines

on providing assistance to debtors impacted by situations that affect the Thai economy” and 245
the circular of the BOT No. BOT.RPD.(01)C. 380/2563 “Measures to provide additional
assistance to debtors during the COVID-19 situation” or any other measures announced by

the BOT. Such entities include credit card business, business providing loans secured against
vehicle registrations without collateral, personal loan business under the supervision of the

BOT and certain entities not under the supervision of the BOT, such as leasing, hire-purchase, Bangkok Commercial Asset Management Public Co., Ltd.
motorcycle hire-purchase and factoring business. Entities providing assistance to debtors in
accordance with the BOT’s measures and electing to apply this Accounting Guidance have

to apply all temporary relief measures in this guidance.

On 22 April 2020, the Accounting Guidance was announced in the Royal Gazette and it is
effective for entities providing assistance to debtors impacted by the situations that affect Thai
economy providing assistance to debtors during the period from 1 January 2020 to 31

December 2021, or until the BOT makes changes with which the entities are ordered to
comply. The guidance applies to large-sized debtors, small and medium-sized debtors and

retail debtors who have the potential to operate a business or the ability to repay debts in the
future and have been impacted directly or indirectly by such situations, taking into account the
following considerations:

- Debtors who were not yet non-performing (Stage 1 or Stage 2) on or after 1 January
2020.