Operating Assets Major Fixed Assets Major fixed assets of IRPC and its subsidiaries consist of an oil refinery, Petrochemical plants, equipment, machinery and land. As of the end of 2023, the net property, plant and equipment was worth Baht 114,362 million, as detailed below: (Unit: Million Baht) No. Property, plant and equipment - cost: Net value Obligation 1. Machinery and piping systems 155,137 None 2. Buildings and building improvements 41,741 None 3. Land and land improvements 11,795 None 4. Tools and factory equipment 3,567 None 5. Furniture, fixtures and office equipment 1,345 None 6. Vehicles 677 None Total 214,262 Add Assets under construction and assets pending installation 17,382 Less Accumulated depreciation (116,671) Allowance for impairment (611) Total property, plant and equipment, net: 114,362 Investment property At the end of 2023, IRPC’s net investment property, consisting of property and buildings that were not major operating assets, after deducting accumulated depreciation and allowance for impairment, was worth Baht 939 million. Intangible assets At the end of 2023, IRPC’s net intangible assets after deducting accumulated amortization of Baht 727 million, consisted of: 1) Net computer software fees Baht 616 million with an amortization periods of 5-10 years. 2) Net dredging expense of Baht 111 million. This is a sea channel dredging to get the deep sea port ready for cargo ships. Amortization periods were spread over 10-20 years. 87 Structure and Business Operations of IRPC 56-1 ONE REPORT 2023
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