Page 132 - BAM ONE REPORT 2564 (ENGLISH VERSION)

130 Part 1
Business Operation and Performance

• For three-month period ended December 31, 2021, the Company has other operating expenses of Baht
787 million, increasing by 10.2% qoq and 13.6% yoy. For year ended December 31, 2021, the Company has other
operating expenses of Baht 2,727 million, increasing by 3.3% yoy, mainly due to
- In Q4/2021, employee expenses of Baht 490 million is the main operating cost of the Company,
which increased by 13.2% qoq and 24.1% yoy. For year ended December 31, 2021, the Company
has employee expenses of Baht 1,599 million, increasing by 4.6% yoy. This is because the Company
recorded bonus payment for the employees in relation to the business performance.
- In Q4/2021, the Company has taxes and duties of Baht 153 million, increasing by 25.4% qoq and
18.6% yoy. For the year ended December 31, 2021, the Company has taxes and duties of Baht 531
million, increasing by 16.2% yoy, mainly due to special business tax from sale of properties.
- In Q4/2021, the Company has recorded an additional impairment loss on properties for sale
(reversal) of Baht 20 million, increasing by 350.0% qoq and increasing by 766.7% yoy. For year ended
December 31, 2021, the Company has recorded an additional impairment loss of properties
for sale of Baht 21 million, increasing by 310.0% yoy, mainly due to changes in the appraisal value.

Expected credit losses
The company adopted the impairment of financial assets with credit impairment according to the new
accounting policy which has been applied since January 1, 2020. For the year ended December 31, 2021,
the Company recorded the expected credit losses of Baht 4,765 million mainly due to;
(1) The Company recorded the expected credit losses for “loans purchased of receivables” of Baht 4,712 million,
divided into loans purchased of receivables - accrued interest receivables of Baht 4,531 million and
additional expected credit losses from impairment of loans purchased of receivables of Baht 181 million.
(2) Expected credit losses for installment sale receivables of Baht 58 million.

Collection from NPLs and NPAs management businesses

The Company believes that for the NPLs and NPAs management business, collection is a key performance
indicator which is applied by other operators in the same business and various investors. Collection is calculated
based on key items and so does not include all collection items from NPLs and NPAs management business.
However, collection is not a standard indicator prescribed by TFRS, and so the methods of calculation may differ
from methods of calculation used by other companies for similar items.

Collection Received from NPLs Management Business
The following table sets forth the collection received from NPLs management business for the year ended
December 31, 2018, 2019, 2020 and 2021.