View Historical Financial Statements Online
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The information is retrieved from Annual Report 2008 |
| Group | Group | |||
| 2008 | 2007 | |||
| $’000 | $’000 | |||
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| Revenue | 122,286 | 142,415 | ||
| Cost of sales | (118,501 | ) | (135,056 | ) |
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| Gross profit | 3,785 | 7,359 | ||
| Other operating income | 4,154 | 5,465 | ||
| Administrative expenses | (5,629 | ) | (6,218 | ) |
| Finance costs | (190 | ) | (176 | ) |
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| Profit (Loss) before income tax | 2,120 | 6,466 | ||
| Income tax | (149 | ) | (290 | ) |
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| Profit (Loss) for the year attributable to shareholders | 1,971 | 6,176 | ||
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| Earnings (Loss) per share (cents) | ||||
| Basic/Diluted | 2.43 | 7.62 | ||
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| Group | Group | |||
| 2008 | 2007 | |||
| $’000 | $’000 | |||
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| ASSETS | ||||
| Current assets | ||||
| Cash and bank balances | 10,004 | 5,423 | ||
| Trade receivables | 31,612 | 12,854 | ||
| Other receivables and prepayments | 1,006 | 3,445 | ||
| Contract work-in-progress | 18,913 | 20,369 | ||
| Held for trading investments | 36 | 90 | ||
| Available for sale investment | 500 | 500 | ||
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| Total current assets | 62,071 | 42,681 | ||
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| Non-current assets | ||||
| Pledged fixed deposits | 5,505 | 4,237 | ||
| Property, plant and equipment | 11,586 | 10,657 | ||
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| Total non-current assets | 17,091 | 14,894 | ||
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| Total assets | 79,162 | 57,575 | ||
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| LIABILITIES AND EQUITY | ||||
| Current liabilities | ||||
| Current portion of long-term bank loans | 593 | 593 | ||
| Trade payables | 37,775 | 24,858 | ||
| Other payables | 2,528 | 3,123 | ||
| Contract work-in-progress | 7,350 | 366 | ||
| Income tax payable | 29 | 29 | ||
| Current portion of finance leases | 1,524 | 784 | ||
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| Total current liabilities | 49,799 | 29,753 | ||
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| Non-current liabilities | ||||
| Long-term bank loan | 730 | 1,323 | ||
| Finance leases | 1,553 | 1,539 | ||
| Deferred income tax | 570 | 421 | ||
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| Total non-current liabilities | 2,853 | 3,283 | ||
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| Capital and reserves | ||||
| Share capital | 6,660 | 6,660 | ||
| Capital reserve | 13,006 | 13,006 | ||
| Accumulated profits (losses) | 6,844 | 4,873 | ||
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| Total equity | 26,510 | 24,539 | ||
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| Total liabilities and equity | 79,162 | 57,575 | ||
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| Group | Group | |||
| 2008 | 2007 | |||
| $’000 | $’000 | |||
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| Operating activities | ||||
| Profit (Loss) before income tax | 2,120 | 6,466 | ||
| Adjustments for: | ||||
| Allowance for doubtful trade receivables | (9 | ) | 29 | |
| Allowance (Reversal of) for impairment loss in value of other investments |
- | 801 | ||
| Depreciation expense | 1,235 | 1,028 | ||
| Dividend income from other investment | (1,500 | ) | (4,003 | ) |
| Provision for foreseeable losses on projects | 4,847 | 23 | ||
| Gain on disposal of plant and equipment | (1,571 | ) | (744 | ) |
| Interest income | (53 | ) | (106 | ) |
| Interest expense | 190 | 176 | ||
| Reversal for impairment loss in value of held for trading investments |
54 | (36 | ) | |
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| Operating cash flows before movements in working capital | 5,313 | 3,634 | ||
| Trade receivables | (18,749 | ) | (1,080 | ) |
| Other receivables and prepayments | 310 | 882 | ||
| Contract work-in-progress | 3,593 | (15,095 | ) | |
| Trade payables | 12,917 | 9,606 | ||
| Other payables | 905 | 387 | ||
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| Cash (used in) generated from operations | 4,289 | (1,666 | ) | |
| Income tax refund | 2,400 | 4 | ||
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| Net cash (used in) from operating activities | 6,689 | (1,662 | ) | |
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| Investing activities | ||||
| Proceeds on disposal of plant and equipment | 1,674 | 1,994 | ||
| Purchase of plant and equipment | (724 | ) | (3,851 | ) |
| Interest received | 53 | 106 | ||
| Dividend received | - | 4,003 | ||
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| Net cash from investing activities | 1,003 | 2,252 | ||
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| Financing activities | ||||
| Repayment of obligations under finance lease | (1,060 | ) | (2,277 | ) |
| Increase (Decrease) in bank loans | - | 1,916 | ||
| Repayment of bank loans | (593 | ) | (240 | ) |
| Interest paid | (190 | ) | (176 | ) |
| Increase in pledged fixed deposits | (1,268 | ) | (353 | ) |
| Advance from investee | - | 1,500 | ||
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| Net cash from (used in) financing activities | (3,111 | ) | 370 | |
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| Net increase in cash and cash equivalents | 4,581 | 960 | ||
| Cash and cash equivalents at beginning of year | 5,423 | 4,463 | ||
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| Cash and cash equivalents at end of year | 10,004 | 5,423 | ||
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