24 During the current year, the Group reversed the write-down of cost of inventories by Baht 1,905 million, and reduced the amount of inventories recognised as expenses during the year. (2022: reduced cost of inventories by Baht 2,400 million, to reflect the net realisable value. This was included in cost of sales) (the Company only: Baht 1,905 million, 2022: reduced cost of inventories by Baht 2,400 million, to reflect the net realisable value. This was included in cost of sales). According to the Ministry of Energy’s regulations, the Company is required to reserve crude oil at 5 percent of commercial volume and liquid petroleum gas at 2 percent and petroleum products at 1 percent of the total production output in each period. As at 31 December 2023, the inventories presented in the consolidated and separate financial statements included minimum mandatory reserve on crude oil, liquid petroleum gas, and petroleum products amounting to Baht 6,550 million and Baht 6,547 million, respectively (2022: Baht 7,058 million and Baht 7,054 million in the consolidated and separate financial statements, respectively), which were net amount of allowance for diminution in value and obsolescence of inventories. 10. Other non-current financial assets (Unit: Million Baht) Consolidated financial statements Separate financial statements 2023 2022 2023 2022 Equity instruments measured as at fair value through other comprehensive income - Non - listed companies 1,632 1,631 1,631 1,630 - Listed company 40 52 40 52 Total other non-current financial assets 1,672 1,683 1,671 1,682 Equity instruments measured as at fair value through other comprehensive income include listed and non-listed equity investments which the Group considers these investments to be strategic in nature. In 2022, the Group sold its equity interest in Bangkok Union Insurance Public Company Limited as this investment no longer coincides with the Group’s investment strategy. The fair value on the date of sale was Baht 4 million and the accumulated gain recognised in other comprehensive income of Baht 1 million was transferred to retained earnings. In addition, in 2023, the Group received dividends from equity instruments measured as at fair value through other comprehensive income, which still existed at the reporting date, amounting to Baht 7 million (2022: Baht 6 million) (the Company only: Baht 7 million, 2022: Baht 6 million). 317 56-1 ONE REPORT 2023 Notes to the Consolidate Financial Statements
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