ESSO (THAILAND) PUBLIC COMPANY LIMITED

INTERIM CONSOLIDATED AND SEPARATE FINANCIAL INFORMATION (UNAUDITED)

30 SEPTEMBER 2020

AUDITOR'S REPORT ON THE REVIEW OF THE INTERIM FINANCIAL INFORMATION

To the Shareholders and the Board of Directors of Esso (Thailand) Public Company Limited

I have reviewed the interim consolidated financial information of Esso (Thailand) Public Company Limited and its subsidiaries, and the interim separate financial information of Esso (Thailand) Public Company Limited. These comprise the consolidated and separate statements of financial position as at 30 September 2020, the consolidated and separate statements of comprehensive income for the three-month and nine-month periods then ended, the related consolidated and separate statements of changes in equity and cash flows for the nine-month period then ended, and the condensed notes to the interim financial information. Management is responsible for the preparation and presentation of this interim consolidated and separate financial information in accordance with Thai Accounting Standard 34, "Interim Financial Reporting". My responsibility is to express a conclusion on this interim consolidated and separate financial information based on my review.

Scope of review

I conducted my review in accordance with the 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 consolidated and separate financial information is not prepared, in all material respects, in accordance with Thai Accounting Standard 34, "Interim Financial Reporting".

PricewaterhouseCoopers ABAS Ltd.

Pongthavee Ratanakoses

Certified Public Accountant (Thailand) No. 7795

Bangkok

5 November 2020

Esso (Thailand) Public Company Limited

Statement of Financial Position

As at 30 September 2020

(All amounts in Baht thousand unless otherwise stated)

Consolidated

Separate

financial information

financial information

Unaudited

Audited

Unaudited

Audited

30 September

31 December

30 September

31 December

Notes

2020

2019

2020

2019

Assets

Current assets

Cash and cash equivalents

352,034

276,683

352,034

276,683

Trade receivables, net

8

4,316,053

6,464,042

4,316,053

6,464,042

Amounts due from related parties

14 f

-

-

90,587

50,526

Inventories, net

12,265,717

19,085,170

12,265,717

19,085,170

Other receivables, net

2,194,302

1,377,578

2,194,302

1,377,578

Other current assets

4

1,717,681

4,774,725

1,868,749

4,957,208

Total current assets

20,845,787

31,978,198

21,087,442

32,211,207

Non-current assets

Financial assets measured at fair value

through other comprehensive income

4, 7

922,500

-

922,500

-

Available-for-sale investments

4, 7

-

1,350,000

-

1,350,000

Investments in an associate

2,068,424

2,206,905

1,729,360

1,729,360

Investments in subsidiaries

-

-

114,589

114,589

Long-term loans to related parties

14 g

-

-

3,352,830

3,251,419

Property, plant and equipment, net

10

24,866,010

25,599,800

20,661,120

21,394,910

Right-of-use assets, net

4, 10

4,315,999

-

4,377,486

-

Intangible assets, net

10

184,697

181,174

184,697

181,174

Deferred income tax assets, net

3,751,550

1,500,999

3,642,221

1,388,763

Prepaid rental and deferred charges

4

282,699

1,725,830

530,826

2,118,327

Other non-current assets

2,064,696

1,699,723

2,064,696

1,699,723

Total non-current assets

38,456,575

34,264,431

37,580,325

33,228,265

Total assets

59,302,362

66,242,629

58,667,767

65,439,472

Director …………………………………………………

The accompanying notes on pages 10 to 23 form part of this interim financial information.

2

Esso (Thailand) Public Company Limited

Statement of Financial Position

As at 30 September 2020

(All amounts in Baht thousand unless otherwise stated)

Consolidated

Separate

financial information

financial information

Unaudited

Audited

Unaudited

Audited

30 September

31 December

30 September

31 December

Notes

2020

2019

2020

2019

Liabilities and equity

Current liabilities

Bank overdrafts and short-term borrowings

from financial institutions

11

6,120,000

6,488,377

6,120,000

6,488,377

Trade and other payables

4,817,905

5,020,169

4,817,902

5,019,720

Amounts due to related parties

14 f

4,716,210

8,091,234

4,716,077

8,101,318

Current portion of long-term borrowings

from financial institutions

11

1,983,333

1,466,667

1,983,333

1,466,667

Current portion of long-term borrowings

from related parties

14 h

3,333,333

1,633,333

3,333,333

1,633,333

Short-term loans from related parties

14 h

10,293,400

13,188,379

10,294,273

13,189,278

Current income tax payables

930

632

-

-

Current portion of lease liabilities

4

387,871

-

413,606

-

Short-term provisions for employee benefits

875,902

787,070

875,902

787,070

Total current liabilities

32,528,884

36,675,861

32,554,426

36,685,763

Non-current liabilities

Long-term borrowings

from financial institutions

11

2,200,000

1,816,667

2,200,000

1,816,667

Long-term loans from related parties

14 h

5,425,000

2,350,000

5,426,417

2,350,756

Lease liabilities

4

2,419,635

-

2,449,433

-

Long-term provisions

for employee benefits

3,297,208

3,280,326

3,297,208

3,280,326

Other non-current liabilities

5

1,845

5

1,845

Total non-current liabilities

13,341,848

7,448,838

13,373,063

7,449,594

Total liabilities

45,870,732

44,124,699

45,927,489

44,135,357

The accompanying notes on pages 10 to 23 form part of this interim financial information.

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Esso Thailand pcl published this content on 12 November 2020 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 13 November 2020 02:52:03 UTC