GPSC FN_ENG

Notes to the financial statements Global Power Synergy Public Company Limited and its Subsidiaries For the year ended 31 December 2017 89 G L O B A L P O W E R S Y N E R G Y P U B L I C C O M P A N Y L I M I T E D 80 Contracted but not provided for: Design, construction and installment for machinery and equipment and project construction 3,328,851 2,267,739 3,014,857 104,637 Total 3,328,851 2,267,739 3,014,857 104,637 Future minimum lease payments under non-cancellable operating leases Within one year 68,610 84,982 66,345 82,718 After one y ar but within five years 164,243 194,778 155,186 185,721 After five years 207,144 231,194 165,732 192,970 Total 439,997 510,954 387,263 461,409 Forward Foreign Exchange Contracts As at 31 December 2017, the Company has outstanding forward contract to buy Euro 15.8 million, equivalent to Baht 621.8 million with maturity date in January to November 2018 . As at 31 December 2017, a local subsidiary has outstanding forward contract to buy U . S . Dollars 0.6 million, equivalent to Baht 18.8 million with maturity date in January to July 2018 . (2016: U.S. Dollars 0.8 million equivalent to Baht 28.1 million) Interest Rate Swap Contract A oversea subsidiary has entered into interest rate swap contract with a commercial bank in other country to manage exposure and fluctuations in interest rates of long - term loans for JPY currency, whereby exchanging floating interest rate based on JPY - LIBOR plus margin with fixed interest rate . The swap contract effective from 28 February 2018 to 31 May 2036 . Global Power Synergy Public Company Limited and its Subsidiaries Notes to the financial statements For the year ended 31 December 2017 Long-term Maintenance Agreements The Company and a subsidiary have combustion turbine supply and maintenance agreements with local and oversea companies (“ service provider ”) , whereby the service providers will supply and repair parts used for yearly and scheduled repairs . In this regard, the Company and a subsidiary are committed to pay for the parts and maintenance service fees to the service providers at the prices specified the agreements . The period of agreements are 10 - 17 years . These agreements are effective till the end of agreement period or maximum number of hours usage or at the specified maintenance period as stipulated in each agreement . Product Sale and Purchase Agreements The Company and a subsidiary have power purchase agreements for 25 years with the Electricity Generating Authority of Thailand (“ EGAT ”) whereby the Company and a subsidiary will supply the electric energy to EGAT at the agreed quantity and price. As a contracted party with EGAT. The Group entered into agreements with domestic companies to purchase and sell electricity, steam, water for industrial purpose for the period of 15 years or as indicated in the agreements at volume, price as stipulated in agreements . Equity Contribution Agreement As specified in Equity Contribution Agreements between the Group ’ s entities, creditor financial institutions ( as Intercreditor Agent ) and shareholders, the Company and a subsidiary as a shareholder of those entities are committed for additional investments to the entities whenever they acquires loans from their creditors in order to constantly maintain debt to equity ratio as specified in the agreements. Loan agreements Under the Group ’ s loan agreements with financial institutions, the Group and the Company, as a shareholder, has some commitments as specified in the agreements such as maintain its shareholding, provide financial support in proportion of its shareholding and additional investment required in order to maintain debt to equity ratio. Letters of Guarantee