Bangkok Dusit Medical Services : Financial Statements Quarter 1/2023

Bangkok Dusit Medical Services Public Company Limited and its subsidiaries

Review report and interim financial information For the three-month period ended 31 March 2023

Independent Auditor's Report on Review of Interim Financial Information To the Shareholders of Bangkok Dusit Medical Services Public Company Limited

I have reviewed the accompanying consolidated statement of financial position of Bangkok Dusit Medical Services Public Company Limited and its subsidiaries ("the Group") as at 31 March 2023, and the related consolidated statements of income, comprehensive income, changes in shareholders' equity and cash flows for the three-month period then ended, as well as the condensed notes to the interim consolidated financial statements. I have also reviewed the separate financial information of Bangkok Dusit Medical Services Public Company Limited for the same period (collectively "interim financial information"). Management is responsible for the preparation and presentation of this interim financial information in accordance with Thai Accounting Standard No. 34 Interim Financial Reporting. My responsibility is to express a conclusion on this interim financial information based on my review.

Scope of Review

I conducted my review in accordance with Thai Standard on Review Engagements 2410, Review of Interim Financial Information Performed by the Independent Auditor of the Entity. A review of interim financial information consists of making inquiries, primarily of persons responsible for financial and accounting matters, and applying analytical and other review procedures. A review is substantially less in scope than an audit conducted in accordance with Thai Standards on Auditing and consequently does not enable me to obtain assurance that I would become aware of all significant matters that might be identified in an audit. Accordingly, I do not express an audit opinion.

Conclusion

Based on my review, nothing has come to my attention that causes me to believe that the accompanying interim financial information is not prepared, in all material respects, in accordance with Thai Accounting Standard No. 34 Interim Financial Reporting.

Wichart Lokatekrawee

Certified Public Accountant (Thailand) No. 4451

EY Office Limited

Bangkok: 11 May 2023

Bangkok Dusit Medical Services Public Company Limited and its subsidiaries
Statement of financial position
As at 31 March 2023
				(Unit: Thousand Baht)
		Consolidated financial statements	Separate financial statements
		As at	As at	As at	As at
	Note	31 March 2023	31 December 2022	31 March 2023 31 December 2022
		(Unaudited	(Audited)	(Unaudited	(Audited)
		but reviewed)		but reviewed)
Assets
Current assets
Cash and cash equivalents		16,485,101	12,668,014	5,898,568	4,095,282
Trade and other receivables	2, 3	10,527,809	10,484,453	1,966,683	1,538,508
Short-term loans to subsidiaries	3	-	-	2,459,694	2,567,990
Dividend receivables - related parties	3	14,163	-	4,170,068	-
Inventories		2,019,480	2,211,278	116,376	129,900
Current portion of
- Other non-current financial assets	4	15,000	16,000	-	-
- Long-term loans to subsidiaries	3	-	-	90,000	90,000
Other current financial assets		1,299,401	2,303,564	86	86
Other current assets		57,803	115,768	29	6,991
Total current assets		30,418,757	27,799,077	14,701,504	8,428,757
Non-current assets
Restricted financial institution deposits		4,606	4,609	-	-
Other non-current financial assets	4	1,062,477	1,018,107	861,023	813,570
Investments in associates	5	983,520	963,470	69,952	69,952
Investments in subsidiaries	6	-	-	63,242,163	63,241,874
Long-term loans to subsidiaries	3	-	-	408,320	432,076
Investment properties		380,258	380,258	726,359	726,359
Property, premises and equipment	7	82,001,813	81,859,991	13,539,262	13,623,611
Right-of-use assets	8	9,714,803	9,668,432	813,499	842,084
Goodwill		17,538,869	17,538,869	-	-
Intangible assets		1,689,942	1,621,177	716,420	742,525
Deferred tax assets		83,167	77,676	-	-
Other non-current assets		630,455	611,195	49,321	49,345
Total non-current assets		114,089,910	113,743,784	80,426,319	80,541,396
Total assets		144,508,667	141,542,861	95,127,823	88,970,153

The accompanying notes are an integral part of the financial statements.

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Bangkok Dusit Medical Services Public Company Limited and its subsidiaries
Statement of financial position (continued)
As at 31 March 2023
				(Unit: Thousand Baht)
		Consolidated financial statements	Separate financial statements
		As at	As at	As at	As at
	Note	31 March 2023	31 December 2022	31 March 2023 31 December 2022
		(Unaudited	(Audited)	(Unaudited	(Audited)
		but reviewed)		but reviewed)
Liabilities and shareholders' equity
Current liabilities
Short-term loan from financial institutions	9	3,000,000	500,000	3,000,000	500,000
Trade and other payables	3	5,312,574	6,175,970	926,348	1,102,371
Accrued expenses	3	6,493,935	5,425,639	1,291,702	1,042,579
Current portion of long-term liabilities
- Liabilities under lease agreements		856,347	880,375	196,797	126,295
- Debentures	10	2,499,774	4,999,842	2,499,774	4,999,842
Short-term loans from non-related parties		-	32,000	-	-
Short-term loans from subsidiaries	3	-	-	17,665,678	15,004,852
Income tax payable		2,166,553	1,471,565	270,451	138,773
Deferred income - membership due within one year		184,665	183,249	100,581	99,381
Other current liabilities		1,426,966	947,674	149,113	249,916
Total current liabilities		21,940,814	20,616,314	26,100,444	23,264,009
Non-current liabilities
Long-term loan from financial institution		4,000,000	4,000,000	4,000,000	4,000,000
Liabilities under lease agreements		6,804,259	6,683,842	516,559	604,417
Debentures	10	4,998,237	6,497,815	4,998,237	6,497,815
Provision for life long medical care programs		1,749,243	1,666,045	1,512,017	1,431,300
Provision for employee benefits		3,955,664	3,886,455	1,243,548	1,223,284
Deferred income - membership		509,537	486,095	131,765	109,287
Deferred tax liabilities		3,889,508	3,920,406	325,958	341,142
Other non-current liabilities		80,378	73,100	32,791	32,650
Total non-current liabilities		25,986,826	27,213,758	12,760,875	14,239,895
Total liabilities		47,927,640	47,830,072	38,861,319	37,503,904

The accompanying notes are an integral part of the financial statements.

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Bangkok Dusit Medical Services Public Company Limited and its subsidiaries
Statement of financial position (continued)
As at 31 March 2023
			(Unit: Thousand Baht)
	Consolidated financial statements	Separate financial statements
	As at	As at	As at	As at
	31 March 2023 31 December 2022	31 March 2023 31 December 2022
	(Unaudited	(Audited)	(Unaudited	(Audited)
	but reviewed)		but reviewed)
Liabilities and shareholders' equity (continued)
Shareholders' equity
Share capital
Registered
17,582,235,672 ordinary shares of Baht 0.1 each	1,758,224	1,758,224	1,758,224	1,758,224
Issued and fully paid-up
15,892,001,895 ordinary shares of Baht 0.1 each	1,589,200	1,589,200	1,589,200	1,589,200
Premium on ordinary shares	30,166,103	30,166,103	30,103,179	30,103,179
Difference from shareholding restructure	305,000	305,000	-	-
Surplus investment over book value of subsidiaries	(3,956,165)	(3,954,357)	-	-
Retained earnings
Appropriated - statutory reserve	175,822	175,822	175,822	175,822
Unappropriated	51,256,218	47,774,161	21,494,773	16,716,095
Other components of shareholders' equity	13,830,346	13,823,325	2,903,530	2,881,953
Equity attributable to owners of the Company	93,366,524	89,879,254	56,266,504	51,466,249
Non - controlling interests of the subsidiaries	3,214,503	3,833,535	-	-
Total shareholders' equity	96,581,027	93,712,789	56,266,504	51,466,249
Total liabilities and shareholders' equity	144,508,667	141,542,861	95,127,823	88,970,153
	-	-	-	-

The accompanying notes are an integral part of the financial statements.

Directors

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