27 (Unit: Million Baht) Separate financial statements Joint ventures Nature of business Country of incorporation Shareholding percentage Cost Allowance for impairment of investments Carrying amounts based on cost method - net 2023 2022 2023 2022 2023 2022 2023 2022 (%) (%) WHA Industrial Estate Rayong Company Limited Industrial estate development Thailand 40.00 40.00 320 284 - - 320 284 IRPC Polyol Company Limited Manufacturing and sales of chemical products for polyurethanes Thailand 50.00 50.00 185 185 (150) (150) 35 35 Mytex Polymers (Thailand) Company Limited Manufacturing and sales of chemical products Thailand 50.00 50.00 350 350 - - 350 350 Vajira Lab for Society Co., Ltd. Provide analysis and certification services for medical devices Thailand 50.00 50.00 14 14 - - 14 14 Total 869 833 (150) (150) 719 683 a. On 18 March 2022, the Board of Directors’ meeting of WHAIER passed a resolution to call up the third tranche of the share capital, which was 25 percent of the increased registered capital, or Baht 15 million. The Company paid in share capital for the investment in joint venture of Baht 6 million on 29 April 2022. On 19 September 2022, the Board of Directors’ meeting of WHAIER passed a resolution to call up the last tranche of the share capital, which was 25 percent of the increased registered capital, or Baht 15 million. The Company paid in share capital for the investment in joint venture of Baht 6 million on 4 November 2022. On 20 January 2023, the Extra Ordinary General Meeting of shareholders of WHAIER passed a resolution to increase the registered share capital from Baht 710 million to be Baht 800 million by issuing 9 million new ordinary shares at par value of Baht 10 each, totalling Baht 90 million to its existing shareholders in proportion to their holdings, in which the Company interest is 40 percent. The Company paid in share capital for investment in joint venture of Baht 36 million on 31 January 2023. b. On 11 March 2022, the Annual General Meeting of shareholders of Vajira Lab for Society Co., Ltd. No. 1/2022 passed a resolution to increase the registered share capital from Baht 22 million to be Baht 28 million by issuing 60,000 new ordinary shares at par value of Baht 100 each, totalling Baht 6 million to its existing shareholders in proportion to their holding, in which the Company interest is 50 percent. The Company paid in share capital of Baht 3 million on 18 March 2022. 320 IRPC Public Company Limited Notes to the Consolidate Financial Statements
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