20 Loans to related parties and borrowings from related parties As at 31 December 2023 and 2022, the balances of loans between the Group and those related companies and the movement in loans and borrowings are as follows: Short-term loans and interest receivable from related parties (Unit: Million Baht) Separate financial statements Short-term loans and interest receivable Related by Balance as at 31 December 2022 Increase during the year Decrease during the year Balance as at 31 December 2023 IRPC Oil Company Limited Subsidiary 135 - (135) - IRPC Technology Co., Ltd. Subsidiary - 105 (85) 20 Total 135 105 (220) 20 As at 31 December 2023, average interest rate of short-term loans to related parties is 3.03 percent per annum (2022: 1.94 percent per annum). Long-term loans to related parties (Unit: Million Baht) Separate financial statements Long-term loans Balance as at Increase Decrease Balance as at Related by 31 December 2022 during the year during the year 31 December 2023 IRPC Technology Co., Ltd. Subsidiary 30 - (10) 20 Innopolymed Co., Ltd. Subsidiary 47 - - 47 Total 77 - (10) 67 As at 31 December 2023, average interest rate of long-term loans to related parties are 3.42 - 4.97 percent per annum (2022: 3.11 - 3.42 percent per annum). Short-term borrowings and interest payable from a related party (Unit: Million Baht) Separate financial statements Short-term borrowings and interest payable Balance as at Increase Decrease Balance as at Related by 31 December 2022 during the year during the year 31 December 2023 IRPC Oil Company Limited Subsidiary - 815 (487) 328 As at 31 December 2023, average interest rate of short-term borrowings from a related party is 0.45 - 1.10 percent per annum (2022: 0.25 - 0.33 percent per annum). 313 56-1 ONE REPORT 2023 Notes to the Consolidate Financial Statements
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