ANNUAL REPORT 2009 : GROUP LEASE PUBLIC COMPANY LIMITED
Financial Position Assets On December 31, 2008 the company had total assets 2,277.47 million Baht which is increase from 1,601.88 million Baht in the year 2007, increasing amount 675.59 million Baht or 42.17%.
Motorcycle hire purchase and installment sales receivable 2,130.86 million Baht
(93.56% of total assets), increasing amount 654.09 million Baht or 44.29% due to the continuously business expansion. At the end of the year 2009, the total assets is 2,062.53 million Baht decreasing amount 214.93 million Baht or 4.26% from the year 2008. Motorcycle hire purchase and installment sales receivable 1,901.56 million Baht (92.20% of total assets), decreasing amount 229.30 million Baht or 10.76% from the year 2008 due to the portfolio expansion slowdown. Debt quality and provision of allowances for doubtful debts The company has allowance for hire purchase and installment sales receivable which is the main company’s account receivable in 2009, 2008, and 2007 as follow : Accounts Receivable- Hire Purchase as of December 31, 2009 Aging of Hire – Purchase Accounts Receivable
Accounts Receivable and Accrued Income after deducting hire purchase Interest income, VAT and Deposit for loss from customer (million Baht) 1,741.88
83.43
16.83
1.00
Past due 2-3 installments
176.56
8.46
3.45
2.00
Past due 4-6 installments
99.57
4.77
97.56
100.00
Past due 7-12 installments
53.17
2.55
51.94
100.00
Past due over 12 installments Total
16.69
0.80
16.51
100.00
2,087.86
100.00
186.30
8.92
Not exceed one installment
103
%
Allowance for doubtful debt (Million Baht)
% Allowance for doubtful debt