25 11. Investments in subsidiaries 11.1 Details of investments in subsidiaries as presented in separate financial statements (Unit: Million Baht) Company’s name Paid-up capital Shareholding percentage Cost Impairment of investment Net Dividend received during the year 2023 2022 2023 2022 2023 2022 2023 2022 2023 2022 2023 2022 (%) (%) IRPC Oil Company Limited 2,000 2,000 99.99 99.99 2,000 2,000 - - 2,000 2,000 - - IRPC Technology Co., Ltd. 750 750 99.99 99.99 750 750 (476) (476) 274 274 - - Innopolymed Co., Ltd. 282 282 60.00 60.00 169 169 - - 169 169 - - IRPC A&L Company Limited 10 10 57.48 57.48 14 14 - - 14 14 34 47 iPolymer Company Limited 120 120 55.00 55.00 66 66 (66) - - 66 - - Total 2,999 2,999 (542) (476) 2,457 2,523 34 47 On 7 January 2022, the Extraordinary General Meeting of shareholders of Innopolymed Co., Ltd. passed a resolution to increase the registered share capital from Baht 182 million to Baht 282 million by issuing new 1 million ordinary shares at par value of Baht 100 each, totaling Baht 100 million. The Company already paid share capital of Baht 60 million, in proportion to its interest, on 14 January 2022. On 19 December 2023, the Board of Directors’ meeting of the Company passed a resolution approving the dissolution of iPolymer Company Limited, the Company’s subsidiary, with a registered capital of Baht 120 million. The Company held 55 percent of the shares in this subsidiary, amounting to Baht 66 million. The dissolution is in accordance with the Company’s strategic objectives and aims to increase the efficiency of the Group’s operation. On 9 January 2024, an Extraordinary General Meeting of Shareholders of iPolymer Company Limited approved the dissolution, with the expectation that registration with the Ministry of Commerce will be completed in June 2024. The dissolution of the subsidiary has no impact on the Company’s operations. As at 31 December 2023, the Company recorded allowance for impairment loss of such investment of Baht 66 million in the separate financial statements, taking into account the recoverable amount of the investment. 318 IRPC Public Company Limited Notes to the Consolidate Financial Statements
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