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Determination of fair values A number of the Group’s accounting policies and disclosures require the determination of fair value, for both financial and non-financial assets and liabilities. The fair value is the amount for which an asset could be exchanged, or a liability settled, between knowledgeable, willing parties in an arm’s length transaction. Fair values have been determined for measurement and/or disclose purposed based on the following methods. When applicable, further information about the assumptions made in determining the fair value is disclosed in the notes specific to that asset or liability. Cash and cash equivalents, trade accounts receivable, trade accounts payable and short-term borrowings - the carrying amount approximates the fair value due to the relatively short-term maturity. Long-term borrowings - the carrying amount approximates the fair value.

36. Commitments with non-related parties

Capital commitments Contracted but not provided for: The public utilities development for projects

Consolidated Separate financial statements financial statements 2013 2012 2013 2012 (in thousand Baht)

Other commitments Agreements to buy and sell land Bank guarantees Total

55,744

97,762

55,490

96,469

11,273 224,645 235,918

3,758 222,439 226,197

11,273 218,560 229,833

3,758 216,000 219,758

37. Thai Financial Reporting Standards (TFRS) not yet adopted

The Group has not adopted the new and revised TFRS that have been issued but are not yet effective. The new and revised TFRS are expected to become effective for annual financial periods beginning on or after 1 January in the year indicated in the following table. TFRS TAS 1 (revised 2012) TAS 7 (revised 2012) TAS 12 (revised 2012) TAS 17 (revised 2012) TAS 18 (revised 2012) TAS 19 (revised 2012) TAS 21 (revised 2012) TAS 24 (revised 2012) TAS 28 (revised 2012) TAS 31 (revised 2012) TAS 34 (revised 2012) TAS 36 (revised 2012) TAS 38 (revised 2012) TFRS 2 (revised 2012) TFRS 3 (revised 2012) TFRS 5 (revised 2012) TFRS 8 (revised 2012) TFRIC 1 TFRIC 4 TFRIC 10 TFRIC 12 TIC 29 TIC 32

96

รายงานประจ�ำปี 2556

Topic Presentation of financial statements Statement of Cash Flows Income Taxes Leases Revenue Recognition Employee Benefits The Effects of Changes in Foreign Exchange Rates Related Party Disclosures Investments in Associates Interests in Joint Ventures Interim Financial Reports Impairment of Assets Intangible Assets Share-based Payment Business Combinations Non-current Assets held for Sale and Discontinued Operations Operating Segments Changes in Existing Decommissioning, Restoration and Similar Liabilities Determining whether an Arrangement contains a Lease Interim Financial Reporting and Impairment Service Concession Arrangements Service Concession Arrangements – Disclosure Intangible Assets-Web Site Costs

Year effective 2014 2014 2014 2014 2014 2014 2014 2014 2014 2014 2014 2014 2014 2014 2014 2014 2014 2014 2014 2014 2014 2014 2014

MK : Annual Report 2013  

Annual Report 2013

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