56 14.2 Debt restructuring As at 31 December 2021 and 2020, the Company and its subsidiaries have restructured receivables balances (principal and accrued interest receivable) as follow: Restructured receivables Number of receivables Outstanding balances 2021 2020 2021 2020 Million Baht Million Baht Thanachart Capital Plc. 13 13 17 16 MAX Asset Management Co., Ltd. 45 46 143 141 Other subsidiaries 46 52 115 147 Beside of those restructuring receivables as mentioned above, another subsidiary company has entered into scheme to provides assistance to hire purchase receivables and has applied the Accounting Guidance on “Temporary Relief Measures for Entities Providing Assistance to Debtors Impacted by Situations that Affect the Thai Economy” issued by the Federation of Accounting Professions. As at 31 December 2021, 3.74 percent of hire purchase receivables of that subsidiary were still participating in the scheme. Of which 2.93 percent of those receivables, the subsidiary had negotiated with receivables by analysis their status and business and believed that the debtors were able to comply with the debt restructuring agreements, the subsidiary therefore classified them as loans with no significant increase in credit risk (Stage 1) immediately. Where debtors were non-performing (NPLs), accounting for 0.44 percent of hire purchase receivables, the subsidiary classified them at Stage 3 in order to mornitor that the debtors are able to make debt payments in accordance with the restructuring plan for 3 consecutive months or installments, whichever is longer. Moreover, the Company had granted moratoriums on principal payment for another 0.37 percent of hire purchase receivables and continued to classify these receivables at the same stage as before they joined the scheme. 272
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