16 Impairment of investments in subsidiaries, joint ventures and associates The Group records allowance for impairment loss on investments in subsidiaries, joint ventures and associates when the indicator of impairment exists. This requires the management judgement with respect to its projections of future performance of those companies. The Group used a discounted cash flow model, based on projected information for the next 5 years and excluding any restructuring activities to which the Group is not yet committed or significant future investments that will enhance the performance of the assets. Post-employment benefits under defined benefit plans and other long-term employee benefits The obligation under the defined benefit plan and other long-term employee benefit plans is determined based on actuarial techniques. Such determination is made based on various assumptions, including discount rate, future salary increase rate, mortality rate and staff turnover rate. 6. Related party transactions During the years, the Group had significant business transactions with related parties. Such transactions, which are summarised below, arose in the ordinary course of business and were concluded on commercial terms and bases agreed upon between the Group and those related parties. (Unit: Million Baht) For the year ended 31 December Consolidated financial statements Separate financial statements 2023 2022 2023 2022 Transactions with subsidiary companies (eliminated from the consolidated financial statements) Sales of goods and services - - 10,121 6,035 Purchases of goods - - 10 15 Selling and administrative expenses - - 136 106 Interest income, dividend income and other income - - 115 147 Interest expense and other expenses - - 4 5 309 56-1 ONE REPORT 2023 Notes to the Consolidate Financial Statements
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