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Annual Report 2014
138
(1) Clearing Fund
2014
2013
Thailand Futures Exchange
Public Company Limited
Thailand Clearing House Co., Ltd.
Jointly-controlled entity
Family Know-how Co., Ltd.
Associates
Clearing Fund (1)
TSFC Securities Public
Company Limited
Derivatives exchange
Clearing house and related
back-office services for securities
and derivatives contracts
Media business specialising
in financial and investment
information
Fund
Securities financing services
and securities borrowing and lending
Thailand
Thailand
Thailand
Thailand
Thailand
100.00
100.00
50.00
14.03
40.65
100.00
100.00
50.00
15.18
24.66
The Clearing Fund operates under the Regulations
of the Clearing Fund (No. 1) B.E. 2541, which require
that a one-time payment of THB 100 million be made
as an initial contribution by the SET. The ownership
interest percentage will be reduced based on further
contributions made by other members of the Clearing
Fund in the future.
The SET has no control over the Clearing Fund’s
operations, but has influences in policy and operation.
Therefore, the investment in the Clearing Fund is classified
as investment in an associate.
2. Accounting policies
2.1 Basis of preparation
The consolidated and entity financial statements
have been prepared in accordance with Thai Financial
Reporting Standards under the Accounting Act B.E.
2543, being those Thai Financial Reporting Standards
issued under the Accounting Profession Act B.E. 2547.
The consolidated and entity financial statements
have been prepared under the historical cost convention
except as disclosed in the accounting policy for
investments below.
The preparation of financial statements in
conformity with Thai Financial Reporting Standards
requires the use of certain critical accounting estimates.
It also requires management to exercise its judgement
in the process of applying the Group’s accounting
policies. The areas involving a higher degree of
judgement or complexity, or areas where assumptions
and estimates are significant to the consolidated and
entity financial statements are disclosed in Note 4.
An English version of the consolidated and
entity financial statements has been prepared from
the statutory financial statements that are in the Thai
language. In the event of a conflict or a difference
in interpretation between the two languages, the Thai
language statutory financial statements shall prevail.
Name of entity
Type of business
Country
of
incorporation
Ownership interest
%