Annual Report 2017

168 Annual Report 2017 36. Contingent assets and contingent liabilities 36.1Contingent assets 36.1.1 SET In 2012, the Group sued the insurance group for the fire damages of the Stock Exchange of Thailand building (old building) in 2010. The Group has been seeking compensation for the damages under the insurance contract and coverage amounting to Baht 123 million combined with interest rate at 7.50% per annum. The case was dismissed by the civil court and the appeal court on 30 September 2013 and 14 November 2014, respectively. The Group then filed petitions to the supreme court. As at 31 December 2017, the case was still under the consideration of the supreme court. The outcome of the case has not presently been finalised. Therefore, the Group has not recorded any potential income in the financial statements for the years ended 31 December 2017 and 2016. 36.2 Contingent liabilities 36.2.1 SET 36.2.1.1 As at 31 December 2017, the SET has letters of guarantee issued by banks totalling Baht 4.68 million (2016: Baht 6.99 million) in respect of electricity usage in the ordinary course of business from which management anticipates that no material liabilities will arise. The SET has issued a letter of comfort to a bank in respect of an overdraft credit line of Baht 2,400 million (2016: Baht 2,400 million) granted to Thailand Clearing House Co., Ltd. (TCH), a subsidiary, for clearing and settlement of equity instruments and derivatives. Under the terms of the letter of comfort, the SET is required to maintain its shareholding at 99.99% of the registered share capital in TCH to the end of the credit period. In addition, the SET is required to support TCH’s operations to ensure its ability to repay the debt to the bank. As at 31 December 2017, TCH had not drawn down the overdraft credit line. 36.2.1.2 On 26 December 2017, the SET was claimed to recourse for damages arising from non-supervising member company to force sell of the plaintiff’s securities in accordance the rules specified. The plaintiff was seeking that alleged damages totalling Baht 12.65 million. As at 31 December 2017, the case was in progress to file statement to the court. The outcome of the case had not been finalised. Therefore, the Group did not record any potential loss in the consolidated financial statements for the year ended 31 December 2017. 36.2.2 Subsidiary On 17 October 2017, the subsidiary was claimed to compensate for damages arising from the Company’s service. The plaintiff was seeking that alleged damages totalling Baht 16.20 million. As at 31 December 2017, the case was pending trial of the civil court. The outcome of the case had not been finalised. Therefore, the Group did not record any potential loss in the consolidated financial statements for the year ended 31 December 2017.