Page 183 - Annual Report 2015 - Mono Technology Public Company Limited

31. Commitments and contingent liabilities
31.1 Capital commitments
As at 31 December 2015, the Company and its subsidiaries had capital commitments of approximately Baht 417 million (2014: Baht 363 million), relating to the construction of building and purchase of movie rights.
31.2 Guarantees
a) As at 31 December 2015, the Company and its subsidiaries had guaranteed credit facilities of the Company and its subsidiaries amounting to Baht 3,283 million (2014: Baht 3,947 million) and of the Company only amounting to Baht 3,244 Million (2014: Baht 3,907 million).
b) As at 31 December 2015, the Company and its subsidiaries had outstanding bank guarantees of Baht 1,736 million (2014: Baht 2,147 million) and of the Company only amounting to Baht 5 million (2014: Baht 6 million) issued by banks on behalf of the Company and its subsidiaries in respect of performance bonds.
31.3 Operating lease and service commitments
The Company and its subsidiaries had entered into several lease agreements in respect of the lease of office building space and other services contracts. The terms of the agreements were generally between 1 and 15 years.
As at 31 December 2015 and 2014, future minimum lease payments required under these non-cancellable operating lease and service contracts were as follows.
(Unit: Million Baht)
Payable:
in up to 1 year 179 inover1andupto5years 343 in over 5 years 477
31.4 Litigation
In June 2015, the Company was sued by an unrelated company with the Central Intellectual Property and International Trade Court in a civil case and criminal case that the Company infringed the copyright to broadcast a live sports program, seeking compensation of Baht 34 million plus interest at a rate of 7.5% per annum on the principal until settlement is completed. The case is under consideration by the Central Intellectual Property and International Trade Court.
The management of the Company is confident that no significant losses will be incurred as a result of the lawsuit and therefore no provision has been made against the contingent liability in its account.
2015
2014
220
316
426
Annual Report 2015
183