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Financials

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

   
  The Group The Group
2004 2003
$ $
Revenue 315,109,370 326,722,919
 
Commission expenses (65,984,598) (70,788,162)
 
Personnel expenses (93,575,784) (83,088,912)
 
Depreciation and amortisation expenses (7,253,082) (15,161,283)
 
Other operating expenses (50,185,877) (61,605,265)
 
Profit from operations 98,110,029 96,079,297
 
Share of results of associated companies before tax 9,275,952 4,707,672
 
Profit before tax 107,385,981 100,786,969
 
Income tax expense (22,051,679) (22,329,123)
 
Profit from ordinary activities after tax 85,334,302 78,457,846
 
Minority interests 51,963 (329,942)
 
Net profit attributable to members of the Company 85,386,265 78,127,904
 
Earnings per share - basic and diluted (cents) 11.78 10.78
     
   
  The Group The Group
2004 2003
$ $
ASSETS
Current assets
Cash and cash equivalents 280,326,915 232,271,443
Outstanding contracts receivable 449,947,159 852,412,676
Trade debtors 402,107,756 349,346,689
Trading securities – long positions 13,283,183 55,362,251
Other receivables, deposits and prepayments 16,230,602 11,796,650
1,161,895,615 1,501,189,709
Non-current assets
Loans to subsidiaries - -
Investments
– in subsidiaries - -
– in associated companies 39,252,013 51,803,285
– in Exchanges 4,020,626 4,020,626
Trading rights in Exchanges 111,938 248,386
Memberships in Exchanges 118,633 128,999
Fixed assets 9,332,498 11,707,960
Intangible assets 2,054,445
Deferred tax assets 1,438,028 1,580,000
54,273,736 71,543,701
Total assets 1,216,169,351 1,572,733,410
LIABILITIES
Current liabilities
Outstanding contracts payable 398,990,051 792,522,332
Trade and other payables 70,005,091 56,712,836
Trading securities – short positions 9,590,854 47,293,317
Borrowings 52,965,569 32,141,881
Current tax liabilities 24,596,573 22,574,204
556,148,138 951,244,570
Total liabilities 556,148,138 951,244,570
Clients’ trust/segregated accounts
Bank balances
– with affiliated corporations 79,098,913 64,252,309
– with non-related banks 199,513,623 159,241,591
Margin with clearing house 14,028,626 4,247,800
Less: Amounts held in trust (292,641,162) (227,741,700)
- -
Net assets 660,021,213 621,488,840
SHAREHOLDERS’ EQUITY
Share capital 72,470,901 72,470,901
Reserves 252,028,490 255,416,663
Retained earnings 332,284,308 287,481,748
Total shareholders’ equity 656,783,699 615,369,312
Minority interests 3,237,514 6,119,528
660,021,213 621,488,840
     
   
  The Group The Group
2004 2003
$ $
Cash flows from operating activities
Profit before tax and after share of results of associated companies 107,385,981 100,786,969
Adjustments for:
Share of results of associated companies (9,275,952) (4,707,672)
Depreciation and amortisation expenses 7,253,082 15,161,283
Loss/(gain) on disposal of fixed assets 136,342 (29,780)
Gain on sale of investment in Exchanges (7,371,374)
Gross dividend income from quoted securities (2,300,396) (8,747,853)
Interest income (20,498,401) (12,915,257)
Interest expense 1,740,145 1,442,972
Exchange differences (2,677,474) 397,395
Operating cash flow before working capital changes 81,763,327 84,016,683
 
Changes in operating assets and liabilities:
Trading securities 4,376,605 32,287,133
Debtors and outstanding contracts receivable 344,959,235 (854,811,555)
Due from/to associated companies 377,589 (352,528)
Creditors and outstanding contracts payable (380,313,215) 661,548,301
Cash generated from/(utilised in) operations 51,163,541 (77,311,966)
     
Interest received 20,516,807 12,915,257
Interest paid (1,740,145) (1,442,972)
Drawdown of short-term bank loans 20,365,750 14,297,251
Income tax paid (18,901,939) (5,373,100)
Net cash inflow/(outflow) from operating activities 71,404,014 (56,915,530)
     
Cash flows from investing activities
Payments for fixed assets (3,009,560) (4,535,765)
Proceeds from disposal of fixed assets 63,949 105,509
Proceeds from sale of investment in Exchanges - 10,650,750
Acquisition of businesses - (9,439,778)
Acquisition of subsidiaries, net of cash acquired - (125,277)
Issue of shares to minority interest shareholders in subsidiaries - 494,970
Payment for redemption of shares by a subsidiary (2,782,822) -
Dividends received 22,505,658 9,364,248
Net cash inflow from investing activities 16,777,225 6,514,657
 
Cash flows from financing activities
Dividends paid (40,583,705) (6,218,006)
Net cash outflow from financing activities (40,583,705) (6,218,006)
 
 
Net increase/(decrease) in cash and cash equivalents during the financial year
47,597,534 (56,618,879)
Cash and cash equivalents at beginning of the financial year 230,824,562 287,443,441
Cash and cash equivalents at end of the financial year 278,422,096 230,824,562
     









 

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