BUMRUNGRAD HOSPITAL PUBLIC COMPANY LIMITED AND ITS SUBSIDIARIES STATEMENT OF FINANCIAL POSITION AS AT 31 DECEMBER 2021 (Unit: Baht) CONSOLIDATED FINANCIAL SEPARATE FINANCIAL STATEMENTS STATEMENTS NOTE 2021 2020 2021 2020 Assets Current assets Cash and cash equivalents 7 1,802,026,384 1,229,423,953 1,379,858,769 838,418,432 Trade and other receivables CO 1,461,048,839 2,205,538,500 1,468,115,307 2,214,779,775 Inventories 327,556,468 309,199,006 264,231,313 255,358,637 Other current financial assets 10 4,133,570,382 6,908,692,693 4,086,438, 148 6,867,706,313 Prepaid expenses 112,248,323 107,328,095 94,200,835 81,741,894 Other current assets 225,526,790 40,724,650 216,759,960 32,814,168 Total current assets 8,061,977,186 10,800,906,897 7,509,604,332 10,290,819,219 Non-current assets Other non-current financial assets 11 230,827 356,250,146 230,827 356,250,146 Long-term loan and interest receivable from related parties 6 177,716,798 177,721,113 Investments in subsidiaries 12 1,697,810,478 1,697,532,498 Investment in associates 13 1,437,911 75,726,358 Property, plant and equipment 14 11,532,471,248 11,725,733,042 10,035,789,862 10,276,613,313 Right-of-use assets 18 66,320,988 83,862,156 67,936,504 87,376,800 Intangible assets 15 719,986,866 715,027,468 716,566,200 710,953,159 Goodwill 16 71,017,676 63,816,868 Deferred tax assets 27 331,062, 128 338,661,212 327,735,898 331,750,965 Other non-current assets 72,299,880 61,681,254 68,909,113 58,301,615 Total non-current assets 12,794,827,524 13,420,758,504 13,092,695,680 13,696,499,609 Total assets 20,856,804,710 24,221,665,401 20,602,300,012 23,987,318,828 The accompanying notes are an integral part of the financial statements.BUMRUNGRAD HOSPITAL PUBLIC COMPANY LIMITED AND ITS SUBSIDIARIES STATEMENT OF FINANCIAL POSITION (CONTINUED) AS AT 31 DECEMBER 2021 (Unit: Baht) CONSOLIDATED FINANCIAL SEPARATE FINANCIAL STATEMENTS STATEMENTS NOTE 2021 2020 2021 2020 Liabilities and shareholders' equity Current liabilities Trade and other payables 17 805,040,232 704,155,354 800,400,366 688,681,363 Accrued physicians' fees 460,150,390 519,738,412 444,673,771 510,131,559 Accrued expenses 575,233,315 548,332,367 549,389,262 534,835,950 Current portion of long- term lease liabilities 18 40,488,503 37,141,093 42,261,799 39,204,635 Current portion of long- term debentures 19 2,497,288,955 2,497,288,955 Income tax payable 138,033,149 13,093,773 118,241,926 Other current liabilities 265,269,865 98,279,702 213,994,108 52,932,890 Total current liabilities 2,284,215,454 4,418,029,656 2,168,961,232 4,323,075,352 Non-current liabilities Long-term loan and interest payable to an unrelated party 20 23,224,510 20,833,502 Lease liabilities, net of current portion 18 30,661,467 52,967,567 30,661,467 54,537,530 Deferred tax liabilities 27 4,766,893 4,274,793 Provision for long-term employee benefits 22 895,999,043 888,949,128 859,519,075 862,566,223 Total non-current liabilities 954,651,913 967,024,990 890, 180,542 917,103,753 Total liabilities 3,238,867,367 5,385,054,646 3,059, 141,774 5,240,179, 105 The accompanying notes are an integral part of the financial statements.BUMRUNGRAD HOSPITAL PUBLIC COMPANY LIMITED AND ITS SUBSIDIARIES STATEMENT OF FINANCIAL POSITION (CONTINUED) AS AT 31 DECEMBER 2021 (Unit: Baht) CONSOLIDATED FINANCIAL SEPARATE FINANCIAL STATEMENTS STATEMENTS NOTE 2021 2020 2021 2020 Shareholders' equity Share capital 24 Registered 921,521,820 ordinary shares of Baht 1 each 921,521,820 921,521,820 921,521,820 921,521,820 1,180,865 preference shares of Baht 1 each 1,180,865 1,180,865 1,180,865 1,180,865 922,702,685 922,702,685 922,702,685 922,702,685 Issued and paid-up 794,585,642 ordinary shares of Baht 1 each 794,585,642 794,585,642 794,585,642 794,585,642 1,180,865 preference shares of Baht 1 each 1,180,865 1,180,865 1,180,865 1,180,865 795,766,507 795,766,507 795,766,507 795,766,507 Premium on ordinary shares 24 449,854,015 449,854,015 449,854,015 449,854,015 Convertible bonds treated as equity securities 23 320,000,000 320,000,000 320,000,000 320,000,000 Retained earnings Appropriated - statutory reserve 25 92,275,000 92,275,000 92,275,000 92,275,000 Unappropriated 15,854,701,185 17,143,531,653 15,889,531,889 17,093,513,374 Other components of shareholders' equity (226,480,068) (269,892,720) (4,269,173) (4,269,173) Equity attributable to owners of the Company 17,286,116,639 18,531,534,455 17,543,158,238 18,747,139,723 Non-controlling interests of the subsidiaries 331,820,704 305,076,300 Total shareholders' equity 17,617,937,343 18,836,610,755 17,543, 158,238 18,747,139,723 Total liabilities and shareholders' equity 20,856,804,710 24,221,665,401 20,602,300,012 23,987,318,828 The accompanying notes are an integral part of the financial statements.Bumrungrad Hospital Public Company Limited and its subsidiaries INCOME STATEMENT For the year ended 31 December 2021 (Unit: Baht) CONSOLIDATED FINANCIAL SEPARATE FINANCIAL STATEMENTS STATEMENTS NOTE 2021 2020 2021 2020 Revenues Revenues from hospital operations 12,404,197,918 12,315,493,177 11,722,898,963 11,730,101,507 Rental income 56,223,024 46,607,193 87,749,931 79,773,349 Dividend income 12 227,192,808 221,987,860 Exchange gains 4,696,401 47,528 408,657 Other income 144,095,598 77,834,043 129,423,191 88,325,682 Total revenues 12,604,516,540 12,444,630,814 12,167,312,421 12,120,597,055 Expenses Cost of hospital operations 7,730,980,529 7,677,335,490 7,310,848,238 7,291,320,193 Selling expenses 358,446,061 328,042,903 333,701,840 308, 109,360 Administrative expenses 2,937,459,830 3,066,212,004 2,982,966,306 3,159,495,785 Loss from sales of investment in the associate 13.2 56,448,127 Exchange losses 1,912,955 Total expenses 11,085,247,502 11,071,590,397 10,627,516,384 10,758,925,338 Operating profit 1,519,269,038 1,373,040,417 1,539,796,037 1,361,671,717 Share of loss from investments in associates 13.3 (12,417,943) (2,377,134) Finance income 68,784,480 127,891,029 61,638,839 117,154,728 Finance cost (119,755,897) (127,619,007) (119,797,342) (127,754,429) Profit before income tax expenses 1,455,879,678 1,370,935,305 1,481,637,534 1,351,072,016 Income tax expenses 27 (215,846,906) (149,681,024) (187,186,674) (125,964,973) Profit for the year 1,240,032,772 1,221,254,281 1,294,450,860 1,225,107,043 Profit attributable to: Equity holders of the Company 1,215,678,226 1,204,137,572 1,294,450,860 1,225,107,043 Non-controlling interests of the subsidiaries 24,354,546 17,116,709 1,240,032,772 1,221,254,281 Earnings per share 28 Basic earnings per share Profit attributable to equity holders of the Company 1.53 1.54 1.63 1.57 Diluted earnings per share Profit attributable to equity holders of the Company 1.40 1.39 1.49 1.41 The accompanying notes are an integral part of the financial statements.1) Financial statements & ratio analysis Please calculate the following financial ratios for the attached financial statement. Then, briefly explain the results. (Use financial figures in the "Consolidated financial statements 202 1" column) . Current ratio . Quick ratio Cash ratio Gearing ratio Net profit margin Return on equity Return on asset 21 Time value of money & Capital budgeting Question 2.1) Calculate the present value of a 5 Million THB down payment, 10 Million THB payment at the end of two years, 10 Million THB payment at the end of four years, and 10 Million THB payment at the end of five years. Assume a 12% discount rate. Then, briefly explain the results. Question 2.2) Operations manager has prepared the projected cash flow for the interesting investment projects as follows. Please help him to analyze financial return including (1) net present value, (2) internal rate of return, and (3) profitability index. Briefly explain the result. If you have a 150 Million baht budget, which projects shall we invest in? 12% Project Cashflow (Year) 0 1 2 3 4 A (100 50 50 50 50 (120) 45 50 55 60 (50 17 17 17 17 D (25) 10 10 10 10 3 Working capital management and dividend Question 3.1) According to the following information, please (1) calculate the operating cycle and (2) the cash conversion cycle. Then, briefly explain the results and compare the two companies. Company A Inventory period 60 days Accounts receivable period 30 days Accounts payable period 40 day's Company B Inventory period 25 days Accounts receivable period 75 days Accounts payable period 45 days Question 3.2) What is a dividend in your own words? Please briefly explain the following procedure for the Kweichow Moutai company dividend payment. What is Ex-Dividend (XD) date and why it is important? Ex-Dividend Date : Dividend : Type : Payment Date : Yield = Jun 30, 2022 21.675 Jun 20, 2022 1.074