NAVA NAKORN PUBLIC COMPANY LIMIITED
Intelligent Industrial Estate
Revenue from rendering of services and rental income Revenue from rendering of services is recognised as services are provided. Rental income from operating lease is all attributable to minimum lease payments and is recognised in the statement of income on a straight line basis over the term of the lease.
Interest and other income Interest and other income are recognised in the statement of income on the accrual basis. Dividend income is recognised in the statement of income on the date the Company’s right to receive payments is established which in the case of quoted securities is usually the ex-dividend date.
(k) Expenses Lease payments Payments made under operating leases are recognised in the statement of income on a straight line basis over the term of the lease. Lease incentives received are recognised in the statement of income as an integral part of the total lease payments made. Contingent rentals are charged to the statement of income for the accounting period in which they are incurred.
Finance costs and other expenses Interest and similar costs are charged to the statement of income for the period in which they are incurred, except to the extent that they are capitalised as being directly attributable to the acquisition, construction or production of an asset which necessarily takes a substantial period of time to be prepared for its intended use or sale.
(l)
Income tax Current tax is the expected tax payable on the taxable income for the year, using tax rates enacted or substantively enacted at the reporting date, and any adjustment to tax payable in respect of previous years.
4 Related party transactions and balances Related parties are those parties linked to the Company as shareholders or by common shareholders or directors. Transactions with related parties are conducted at prices based on market prices or, where no market price exists, at contractually agreed prices. Relationships with related parties that control or jointly control the Company or are being controlled or jointly controlled by the Company or have transactions with the Company are as follows:
Name of entities NEP Realty and Industry Public Company Limited
Country of incorporation Thailand
Nature of relationships Major shareholder 24.55% shareholding, and common directors
Nava Nakorn Electricity Generating Company Limited
Thailand
Related party, the Company invests 59.50% Shareholding
Navanakorn International Guard Co., Ltd.
Thailand
Related company, the Company invests 15.08% Shareholding
Sumisho Global Logistics (Thailand) Co., Ltd.
Thailand
Common directors, the Company invests 1.71% Shareholding
Nava Nakorn Medicare Co., Ltd.
Thailand
Common directors
Nava Nakorn Energy and Environ Co., Ltd.
Thailand
Common directors
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