Financial Statements Quarter 3/2021

Bangkok Dusit Medical Services Public Company Limited and its subsidiaries

Review report and interim financial information For the three-month and nine-month periods ended 30 September 2021

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 30 September 2021, the related consolidated statements of income and comprehensive income for the three- month and nine-month periods then ended, the related consolidated statements of changes in shareholders' equity and cash flows for the nine-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.

Emphasis of matter

I draw attention to Note 1.2 to the interim consolidated financial statements. The COVID-19 Pandemic is adversely impacting most businesses and industries. This situation may bring uncertainties and have an impact on the environment in which the group operates. The Group's management has continuously monitored ongoing developments and assessed the financial impact in respect of the valuation of assets, provisions and contingent liabilities, and has used estimates and judgement in respect of various issues as the situation has evolved.

My conclusion is not modified in respect of this matter.

Wichart Lokatekrawee

Certified Public Accountant (Thailand) No. 4451

EY Office Limited

Bangkok: 10 November 2021

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Bangkok Dusit Medical Services Public Company Limited and its subsidiaries
Statement of financial position
As at 30 September 2021
					(Unit: Thousand Baht)
		Consolidated financial statements	Separate financial statements
		As at	As at	As at	As at
	Note	30 September 2021 31 December 2020 30 September 2021 31 December 2020
		(Unaudited	(Audited)	(Unaudited	(Audited)
		but reviewed)		but reviewed)
Assets
Current assets
Cash and cash equivalents		11,226,002	19,666,366	8,778,600	17,332,843
Trade and other receivables	2, 3	8,908,070	7,191,782	1,027,177	943,514
Short-term loans to subsidiaries	3	-	-	3,109,094	3,350,769
Inventories		1,832,767	1,855,166	113,993	100,517
Current portion of other non-current
financial assets	5.2	19,000	-	-	-
Other current financial assets	4	1,634,550	1,272,926	85	85
Other current assets		716,831	26,565	143,626	-
Total current assets		24,337,220	30,012,805	13,172,575	21,727,728
Non-current assets
Restricted financial institution deposits		4,590	5,276	-	-
Other non-current financial assets	5	623,598	603,490	369,758	303,393
Investments in associates	6	932,953	938,546	70,815	70,815
Investments in subsidiaries	7	-	-	57,997,895	57,997,643
Long-term loans to subsidiaries	3	-	-	830,382	854,622
Investment properties		363,273	363,248	742,084	742,059
Property, premises and equipment	8	79,996,234	81,313,253	13,377,809	13,780,218
Right-of-use assets	9	3,005,566	3,314,807	771,263	862,806
Goodwill		17,538,869	17,538,869	-	-
Intangible assets		1,334,209	1,355,627	689,500	685,520
Deferred tax assets		100,281	92,924	-	-
Other non-current assets	3	605,058	511,406	32,829	30,961
Total non-current assets		104,504,631	106,037,446	74,882,335	75,328,037
Total assets		128,841,851	136,050,251	88,054,910	97,055,765

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 30 September 2021
					(Unit: Thousand Baht)
		Consolidated financial statements	Separate financial statements
		As at	As at	As at	As at
	Note	30 September 2021 31 December 2020 30 September 2021 31 December 2020
		(Unaudited	(Audited)	(Unaudited	(Audited)
		but reviewed)		but reviewed)
Liabilities and shareholders' equity
Current liabilities
Trade and other payables	3, 11	4,559,908	4,450,043	663,919	809,807
Accrued expenses	3	5,003,616	3,709,802	878,359	755,129
Current portion of long-term liabilities
- Long-term loans from financial institutions	12	-	107,467	-	107,467
- Liabilities under lease agreements	13	179,335	319,831	55,606	126,883
- Debentures	14	3,099,744	-	3,099,744	-
Short-term loans from non-related parties		74,400	82,600	-	-
Short-term loans from subsidiaries	3	-	-	12,170,656	11,296,481
Dividend payable		4,063,836	107,408	4,014,395	63,746
Income tax payable		590,855	1,705,088	-	1,102,126
Deferred income - membership due within one yea		162,216	185,460	89,690	102,734
Other current financial liabilities	15	-	7,206	-	7,206
Other current liabilities		1,397,804	545,446	281,288	122,169
Total current liabilities		19,131,714	11,220,351	21,253,657	14,493,748
Non-current liabilities
Long-term loans from financial insitutions	12	1,000,000	6,000,000	1,000,000	6,000,000
Liabilities under lease agreements	3, 13	3,084,288	3,141,862	570,764	582,735
Debentures	14	11,495,724	14,593,850	11,495,724	14,593,850
Provision for life long medical care programs		1,292,709	1,287,272	1,116,823	1,117,091
Provision for employee benefits		4,651,412	4,394,895	1,472,440	1,403,897
Deferred income - membership		498,889	561,520	116,052	140,463
Deferred tax liabilities		3,100,998	3,324,432	168,134	179,145
Other non-current liabilities	3	72,692	63,370	33,186	31,938
Total non-current liabilities		25,196,712	33,367,201	15,973,123	24,049,119
Total liabilities		44,328,426	44,587,552	37,226,780	38,542,867

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

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