297 O N E R E P O R T 2 0 2 2 OVERVIEW BUSINESS OVERVIEW AND PERFORMANCE CORPORATE GOVERNANCE FINANCIAL INFORMATION SUSTAINABLE BUSINESS DEVELOPMENT Consolidated financial statements 2022 2021 USD SGD INR Baht USD SGD INR Baht Guarantees relating to 0.16 2.20 73.43 15.92 0.09 1.04 63.78 16.01 flight operating activities Guarantees relating to maintenance reserve fund 1.28 - - - 37.31 - - - Total 1.44 2.20 73.43 15.92 37.40 1.04 63.78 16.01 Total equivalent to Thai Baht 49.86 57.24 32.80 15.92 1,256.42 26.10 29.88 16.01 Consolidated financial statements 2022 2021 Contract currency Contract currency USD Baht USD Baht Assets measured or disclosed fair value Derivatives Interest rate swap agreements - 1,457 - - Liabilities measured or disclosed fair value Derivatives Interest rate swap agreements - 3,299 28,545 21,483 Foreign exchange forward contracts 72,505 - - - Cross currency swap agreements - - 41,593 - Long-term borrowings from financial institutions - 3,388,291 - 4,035,901 Long-term debentures - 2,398,552 - 1,469,767* 36.6 Litigations As 31 December 2022, the subsidiary was served with summons and copies of complaints in 21 civil lawsuits (2021: 28 civil lawsuits) over terminations and breaches of contract, whereby the subsidiary was required to pay a compensation amounting to Baht 19 million (2021: Baht 6 million). Currently, the court proceedings are at a preliminary stage. However, the subsidiary’s management believed that all the evidence available will enable it to dispute the claims and did not set up any provisions. 37. Fair values hierarchy As at 31 December 2022 and 2021, the subsidiary had assets and liabilities in US Dollar and Baht currencies disclosed at fair value which the hierarchy is level 2 as follows. (Unit: Thousand) (Unit: Thousand) * Excluded extended Baht 1,200 million tranche of debenture which had no stated fair value of debentures from quoted market prices of the Thai Bond Market Association, as discussed in Note 20.
RkJQdWJsaXNoZXIy ODEyMzQ3