ASIA PACIFIC WIRE & CABLE CORP LTD
For the period ended Dec 31, 2023. Filed Apr 29, 2024.
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The yearly report of a company based outside the US. It covers much of what a 10-K does, and may follow accounting rules other than US ones.
FY2023 · Filed Apr 29, 2024
Contents
25. Commitments and contingencies
- COMMITMENTS AND CONTINGENCIES
25(a) Purchase commitments
As of December 31, 2023 and 2022, our Company had commitments to purchase raw materials totaling $127 million to $147 million and $191 million to $225 million (14,765 to 17,115 metric tons and 22,375 to 26,255 metric tons), respectively, from third parties and PEWC at the prices stipulated in the contracts.
25(b) Capital commitments
As of December 31, 2023 and 2022, our Company had capital commitment relating to the construction of factory building improvement and acquisition of machinery, totaling $0.7 million and $0.7 million, respectively.
25(c) Guarantees
As of December 31, 2023 and 2022, APWC provided a corporate guarantee not exceeding the sum of $29 million and $25 million, respectively, for the bond performance and banking facility of Sigma Cable.
As of December 31, 2023 and 2022, there were outstanding bank guarantees of $17 million and $14 million, respectively, issued by the banks on behalf of Charoong Thai and its subsidiaries in respect of certain performance bonds as required in the normal course of business of the companies. These guarantees generally expire within 1 year.
25(d) Service commitments
As of December 31, 2023 and 2022, our Company had commitments in respect of management consulting services with related parties totaling $0.1 million and $0.1 million, respectively.
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