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Financials

The information is retrieved from Annual Report 2003
Years
2016 2015
2014 2013
2012 2011
2010 2009
2008 2007
2006 2005
2004 2003

   
  The Group The Group
2003 2002
$ $
Revenue 326,722,919 162,405,405
     
Commission expenses (70,788,162) (38,421,512)
     
Personnel expenses (83,088,912) (50,543,024)
     
Other operating expenses (76,766,548) (61,222,038)
     
Profit from operations 96,079,297 12,218,831
     
Share of results of associated companies before tax 4,707,672 3,111,381
     
Profit before tax 100,786,969 15,330,212
     
Income tax expense (22,329,123) (3,639,721)
     
Profit from ordinary activities after tax 78,457,846 11,690,491
     
Minority interests (329,942) 202,313
     
Net profit attributable to members of the Company 78,127,904 11,892,804
     
Earnings per share – basic (cents) 10.78 1.64
     
   
  The Group The Group
2003 2002
$ $
ASSETS
Current assets
Cash and cash equivalents 232,271,443 290,007,579
Outstanding contracts receivable 852,412,676 183,493,993
Trade debtors 349,346,689 158,198,944
Trading securities – long positions 55,362,251 54,061,093
Amounts due from subsidiaries – non-trade - -
Amount due from affiliated corporation – non-trade - 25,761
Amount due from associated company – non-trade 304,408 17,157
Other current assets 11,492,242 16,672,694
1,501,189,709 702,477,221
Non-current assets
Subordinated loan to a subsidiary - -
Investments
– in subsidiaries - 2
– in associated companies 51,803,285 49,240,918
– in Exchanges 4,020,626 7,300,002
Trading rights in Exchanges 248,386 474,638
Memberships in Exchanges 128,999 134,313
Fixed assets 11,707,960 11,717,223
Goodwill 2,054,445 2,785,359
Deferred tax assets 1,580,000 290,000
71,543,701 71,942,455
Total assets 1,572,733,410 774,419,676
LIABILITIES
Current liabilities
Outstanding contracts payable 792,522,332 165,563,400
Trade and other payables 56,712,836 22,120,226
Trading securities – short positions 47,293,317 13,705,026
Amounts due to subsidiaries – non-trade - -
Amounts due to affiliated corporations – non-trade - 91,038
Borrowings 32,141,881 18,961,887
Current tax liabilities 22,574,204 5,327,050
951,244,570 225,768,627
Non-current liabilities
Borrowings - 159,637
- 159,637
Total liabilities 951,244,570 225,928,264
Clients’ trust/segregated accounts
Bank balances
– with affiliated corporations 64,252,309 27,309,986
– with non-related banks 159,241,591 83,003,675
Margin with clearing house 4,247,800 7,852,013
Less: Amounts held in trust (227,741,700) (118,165,674)
- -
Net assets 621,488,840 548,491,412
SHAREHOLDERS’ EQUITY
Share capital 72,470,901 72,470,901
Reserves 350,325,122 350,219,289
Retained earnings 192,573,289 120,663,391
Total shareholders’ equity 615,369,312 543,353,581
Minority interests 6,119,528 5,137,831
621,488,840 548,491,412
     
   
  The Group The Group
2003 2002
$ $
Cash flows from operating activities
Profit before tax and after share of results of associated companies 100,786,969 15,330,212
Adjustments for:
Share of results of associated companies (4,707,672) (3,111,381)
Depreciation of fixed assets 4,766,678 3,939,443
(Gain)/Loss on disposal of fixed assets (29,780) 380,367
Amortisation of trading rights in Exchange 223,913 15,293
Impairment loss on trading rights in Exchanges 274,738
Gain on sale of investment in Exchanges (7,371,374) (176,702)
Amortisation of goodwill 10,170,692 5,550,437
Dividend income (8,747,853) (2,179,371)
Interest income (12,915,257) (12,268,964)
Interest expense 1,442,972 1,188,073
Exchange differences 397,395 (1,468,673)
Operating cash flow before working capital changes 84,016,683 7,473,472
 
Changes in operating assets and liabilities:
Trading securities 32,287,133 9,824,771
Debtors and outstanding contracts receivable (854,811,555) 23,995,359
Due from/to associated companies and affiliated corporation (352,528) (347,602)
Creditors and outstanding contracts payable 661,548,301 (53,969,864)
Cash utilised in operations (77,311,966) (13,023,864)
     
Interest received 12,915,257 12,268,964
Interest paid (1,442,972) (1,188,073)
Proceeds from/(repayment of) short-term bank loans 14,297,251 (8,507,180)
Income tax paid (5,373,100) (9,128,622)
Net cash outflow from operating activities (56,915,530) (19,578,775)
     
Cash flows from investing activities
Payments for fixed assets (4,535,765) (8,301,391)
Proceeds from disposal of fixed assets 105,509 130,570
Purchase of trading rights in Exchange - (222,500)
Proceeds from sale of investment in Exchanges 10,650,750 960,036
Acquisition of businesses (9,439,778) (8,335,796)
Acquisition of subsidiaries, net of cash acquired (125,277) (34,879)
Issue of shares to minority interest shareholders in subsidiaries 494,970 883,625
Dividends received 9,364,248 3,302,766
Net cash inflow/(outflow) from investing activities 6,514,657 (11,617,569)
 
Cash flows from financing activities
Subordinated loan contributed by minority interest - 29,792
Dividends paid (6,218,006) (9,892,278)
Net cash inflow/(outflow) from financing activities (6,218,006) (9,862,486)
 
 
Net decrease in cash and cash equivalents during the financial year (56,618,879) (41,058,830)
Cash and cash equivalents at beginning of the financial year 287,443,441 328,502,271
Cash and cash equivalents at end of the financial year 230,824,562 287,443,441
     









 

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