Energy Absolute Public Company Limited (EA) Clarifies‍ Information on Trade‌ Amounts Due from Related Businesses

Mr.⁣ Wasu Klomkliang, Chief Financial Officer of Energy Absolute Public Company ⁤Limited (EA), has clarified information to the SET ⁢regarding the company’s significant amount of ⁤trade amounts due ⁣from related⁢ businesses.

Allowance for⁤ Doubtful Accounts

The company records an allowance for doubtful accounts ⁣of 2% ⁣of the outstanding debt. ⁤According to the Q2/2024⁣ financial statement, there was⁤ an increase in receivables from related businesses from‍ 2023 in the amount of 5,526 million baht to 6,794 million baht, and an allowance for doubtful debts was recorded at approximately 133 million‍ baht.

Policies and Measures for Following Up Late Trade Debtors

Overdue trade receivables have been followed ⁢up, and the ability to repay debts has‌ been continuously⁣ evaluated. This includes sending ⁢letters to follow up on debt ‌payments and bringing cash flow to use in operations.

Electric Vehicle ⁤Business Model

The company’s electric vehicle business model remains the same, with sales through⁣ NEX. This format is considered to be in the best interests of the ‍company group.

Business Operations Policy⁤ and Operating Results of Paypop Company Limited

Paypop Company‌ Limited, a 100% subsidiary, has a main business policy regarding the provision of electric vehicle hire purchase loans. In 2023, the company reported a ‍net profit of 96.64 ⁢million baht, and in 2022, a ‌net profit of 19.73 million⁣ baht. Debt collection measures for receivable leases include a process to manage and monitor the granting of hire purchase loans on an‌ ongoing ⁣basis.