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Financials

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

   
Group Group
2009 2008
$ $
Revenue 400,238,151 371,758,685
Foreign exchange gain 6,793,027 2,387,822
Realised gain on financial assets, available-for-sale 6,251,349 4,252,069
Commission expense (99,968,181) (69,378,309)
Staff costs (99,418,069) (106,473,994)
Finance expense (5,385,697) (13,843,898)
Other operating expenses (73,875,508) (64,050,595)
Profit before income tax 134,635,072 124,651,780
Income tax expense (19,371,895) (15,135,325)
Profit for the year 115,263,177 109,516,455
 
Other comprehensive (expense) income:
Exchange differences on translation of foreign operations (4,057,880) (3,917,600)
Statutory reserves 23,316 (46,635)
Available-for-sale investments 985,889 (20,059,978)
Income tax relating to components of other comprehensive income (444,987) 332,269
Other comprehensive expense for the year, net of tax (3,493,662) (23,691,944)
Total comprehensive income for the year 111,769,515 85,824,511
 
Profit attributable to:
Owners of the Company 114,385,469 108,744,804
Minority interests 877,708 771,651
115,263,177 109,516,455
 
Total comprehensive income attributable to:
Owners of the Company 111,158,483 85,306,721
Minority interests 611,032 517,790
111,769,515 85,824,511
Earnings per share - basic and diluted (cents) 15.78 15.01
     
   
  Group Group
2009 2008
$ $
ASSETS
Current assets
Cash and cash equivalents 180,778,030 709,492,873
Outstanding contracts receivable 1,063,051,910 402,696,244
Trade receivables 1,155,395,634 664,305,871
Financial assets, at fair value through profit or loss 26,234,003 1,843,735
Other current assets 17,190,610 19,996,087
Derivative financial instruments 7,791 4,559
Total current assets 2,442,657,978 1,798,339,369
 
Non-current assets
Trade receivables  - 16,194,375
Subsidiaries  - -
Associates 96,958 108,793
Financial assets, available-for-sale 17,967,035 18,405,506
Trading rights in Exchanges 102,941 104,382
Memberships in Exchanges 233,926 227,555
Property, plant and equipment 76,738,023 43,359,117
Deferred tax assets 225,730 303,920
Total non-current assets 95,364,613 78,703,648
Total assets 2,538,022,591 1,877,043,017
 
LIABILITIES
Current liabilities
Outstanding contracts payable 944,002,666 357,960,744
Trade and other payables 121,464,828 227,954,397
Financial liabilities, at fair value through profit or loss 5,600 -
Borrowings 424,808,576 305,982,777
Income tax payable 19,821,679 14,383,154
Derivative financial instruments 8,363 1,593
Total current liabilities 1,510,111,712 906,282,665
 
Non-current liability
Deferred tax liabilities 1,075,519 437,378
Total liabilities 1,511,187,231 906,720,043
 
EQUITY
Capital reserves and minority interests
Share capital 72,470,901 72,470,901
Reserves (11,853,393) (8,673,677)
Retained earnings 953,123,080 893,090,787
Equity attributable to owners of the Company 1,013,740,588 956,888,011
Minority interests 13,094,772 13,434,963
Total equity 1,026,835,360 970,322,974
Total liabilities and equity 2,538,022,591 1,877,043,017
 
Clients’ trust/segregated accounts
Bank balances
– with related parties 179,660,179 133,655,881
– with non-related banks 555,113,321 375,082,977
Margin with clearing house 6,141,108 8,406,472
Less: Amounts held in trust (740,914,608) (517,145,330)
- -
     
   
Group Group
2009 2008
$ $
Operating activities
Profit before income tax 134,635,072 124,651,780
Adjustments for:
Depreciation expense 3,286,062 2,474,145
Net loss (gain) on disposal of property, plant and equipment 90,243 (15,666)
Realised gain on financial assets, available-for-sale (6,251,349) (4,252,069)
Dividend income (793,296) (1,160,973)
Allowance (write back of allowance) for trade receivables 2,938,292 (205,060)
Allowance for impairment in financial assets, available-for-sale 1,426,318 2,671,040
Interest expense 5,385,697 13,843,898
Exchange differences (4,020,674) (4,255,336)
Operating cash flows before movements in working capital 136,696,365 133,751,759
 
Changes in operating assets and liabilities:
Financial assets/liabilities, at fair value through profit or loss (24,384,668) 1,305,619
Trade, outstanding contracts and other receivables (1,135,387,101) 2,008,969,121
Trade, outstanding contracts and other payables 474,859,123 (613,491,873)
Cash (used in) generated from operations (548,216,281) 1,530,534,626
 
Interest paid (5,385,697) (13,843,898)
Income tax paid (13,703,801) (53,428,553)
Net cash (used in) from operating activities (567,305,779) 1,463,262,175
   
Investing activities
Payments for property, plant and equipment (Note A) (33,039,038) (40,599,082)
Refund of stamp duty 1,014,600 -
Proceeds from disposal of financial assets, available-for-sale 6,471,349 4,650,607
Proceeds from disposal of property, plant and equipment 50,222 23,385
Proceeds from capital repayment in associates - 1,031,483
Payment to minority interests for dividend (138,682) (268,050)
Payment to minority interests for additional interest in a subsidiary (812,541) (1,492,059)
Payment for financial assets, available-for-sale (220,893) (3,447,522)
Dividends received from quoted/unquoted securities 793,296 1,160,973
Net cash used in investing activities (25,881,687) (38,940,265)
     
Financing activities
Net drawdown (repayment) of short-term bank loans 106,246,478 (751,204,867)
Dividends paid (54,353,176) (89,791,445)
Net cash from (used in) financing activities 51,893,302 (840,996,312)
 
Net (decrease) increase in cash and cash equivalents during the year (541,294,164) 583,325,598
Cash and cash equivalents at beginning of the year 708,723,767 125,398,169
Cash and cash equivalents at end of the year 167,429,603 708,723,767
     

Note A: Non-cash transaction

During the current financial year, the Group accquired property, plant and equipment of $36,724,438 (2008: $40,599,082) of which $4,700,000 (2008: $NIL) remains unpaid at the end of the reporting period. This is recorded in accrued operating expenses as part of trade and other payables.

     









 

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