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Financials

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

   
  Group
2010
$
Group
2009
$
Revenue 439,945,231 400,238,151
Foreign exchange gain 6,531,518 6,793,027
Realised gain on financial assets, available-for-sale 7,673,049 6,251,349
Commission expense (95,434,268) (99,968,181)
Staff costs (122,166,199) (99,418,069)
Finance expense (9,667,842) (5,385,697)
Other operating expenses (60,439,641) (73,875,508)
Profit before income tax 166,441,848 134,635,072
Income tax expense (25,503,785) (19,371,895)
Profit for the year 140,938,063 115,263,177
 
Other comprehensive (expense) income:
Exchange differences on translation of foreign operations (22,434,528) (4,034,564)
Available-for-sale investments (7,776,091) 985,889
Income tax relating to components of other comprehensive income 200,507 (444,987)
Other comprehensive expense for the year, net of tax (30,010,112) (3,493,662)
Total comprehensive income for the year 110,927,951 111,769,515
 
Profit attributable to:
Owners of the Company 139,519,427 114,385,469
Non-controlling interests 1,418,636 877,708
  140,938,063 115,263,177
Total comprehensive income attributable to:
Owners of the Company 109,386,391 111,158,483
Non-controlling interests 1,541,560 611,032
  110,927,951 111,769,515
Earnings per share - Basic and diluted 19.25 cents 15.78 cents
     
   
  Group
2010
$
Group
2009
$
ASSETS
Current assets
Cash and bank balances 285,834,628 180,778,030
Outstanding contracts receivable 876,078,828 1,063,051,910
Trade receivables 1,701,931,102 1,155,395,634
Other financial assets, at fair value through profit or loss 28,189,483 26,234,003
Other current assets 21,646,599 17,190,610
Derivative financial instruments 186,689 7,791
Total current assets 2,913,867,329 2,442,657,978
 
Non-current assets
Trade receivables 29,221,129 -
Goodwill 4,022,655 -
Subsidiaries - -
Associates - 96,958
Financial assets, available-for-sale 9,083,619 17,967,035
Trading rights in Exchanges 96,413 102,941
Memberships in Exchanges 235,915 233,926
Property, plant and equipment 71,442,613 76,738,023
Deferred tax assets 367,319 225,730
Total non-current assets 114,469,663 95,364,613
Total assets 3,028,336,992 2,538,022,591
LIABILITIES
Current liabilities
Outstanding contracts payable 791,716,378 944,002,666
Trade and other payables 154,679,460 121,464,828
Other financial liabilities, at fair value through profit or loss 1,140 5,600
Borrowings 645,824,983 424,808,576
Debts issued 325,387,000 -
Income tax payable 25,392,102 19,821,679
Derivative financial instruments 9,169 8,363
Total current liabilities 1,943,010,232 1,510,111,712
Non-current liability
Deferred tax liabilities 1,685,770 1,075,519
Total liabilities 1,944,696,002 1,511,187,231
EQUITY
Capital, reserves and non-controlling interests
Share capital 72,470,901 72,470,901
Reserves (43,815,582) (11,853,393)
Retained earnings 1,034,665,787 953,123,080
Equity attributable to owners of the Company 1,063,321,106 1,013,740,588
Non-controlling interests 20,319,884 13,094,772
Total equity 1,083,640,990 1,026,835,360
Total liabilities and equity 3,028,336,992 2,538,022,591
Clients' trust/segregated accounts
Bank balances
- with related parties 364,008,159 179,660,179
- with non-related banks 530,140,374 555,113,321
Margin with clearing house 11,778,239 6,141,108
Less: Amounts held in trust (905,926,772) (740,914,608)
  - -
     
   
  Group
2010
$
Group
2009
$
Operating activities
Profit before income tax 166,441,848 134,635,072
Adjustments for:
Depreciation expense 9,457,757 3,286,062
Net loss on disposal of property, plant and equipment 78,140 90,243
Property, plant and equipment written off 15,246 -
Realised gain on financial assets, available-for-sale (7,673,049) (6,251,349)
Dividend income (1,001,671) (793,296)
(Write back of allowance) Allowance for trade receivables (161,827) 2,938,292
Allowance for impairment in financial assets, available-for-sale
131,157 1,426,318
Interest expense 9,667,842 5,385,697
Exchange differences (16,850,690) (5,293,810)
Operating cash flows before movements in working capital 160,104,753 135,423,229
 
Changes in operating assets and liabilities:
Other financial assets/liabilities, at fair value through profit or loss
(1,959,940) (24,384,668)
Trade, outstanding contracts and other receivables [Note A] (216,047,075) (1,135,387,101)
Trade, outstanding contracts and other payables (119,070,850) 474,859,123
Debts issued [Note A] 148,177,500 -
Cash used in operations (28,795,612) (549,489,417)
 
Interest paid (9,667,842) (5,385,697)
Income tax paid (19,257,997) (13,703,801)
Net cash used in operating activities (57,721,451) (568,578,915)
 
Investing activities
Payments for property, plant and equipment [Note B] (3,933,233) (33,039,038)
Refund of stamp duty - 1,014,600
Proceeds from disposal of financial assets, available-for-sale 8,598,874 6,471,349
Proceeds from disposal of property, plant and equipment 22,622 50,222
Proceeds from liquidation of associates 78,729 -
Payment to non-controlling interests for dividend (246,121) (138,682)
Payment for financial assets, available-for-sale - (220,893)
Dividends received from quoted/unquoted securities 1,001,671 793,296
Net cash from (used in) investing activities 5,522,542 (25,069,146)
 
Financing activities
Payment to non-controlling interests for additional interest in a subsidiary
(263,527) (812,541)
Net drawdown of short-term bank loans 222,860,208 106,246,478
Dividends paid (57,976,720) (54,353,176)
Net cash from financing activities 164,619,961 51,080,761
Effects of exchange rate changes on the balance of cash and cash equivalents held in foreign currencies
(5,520,653) 1,273,136
Net increase (decrease) in cash and bank balances 106,900,399 (541,294,164)
Cash and cash equivalents at beginning of the year 167,429,603 708,723,767
Cash and cash equivalents at end of the year 274,330,002 167,429,603

 

Notes: Non-cash transactions

Note A
In 2010, the Group issued debts amounting to $325,387,000 of which $177,209,500 has been issued on a non-cash basis as considerations in exchange for originating or purchasing certain trade receivables of equivalent amounts (Notes 8 and 21).

Note B
In 2010, as part of the acquisition of the brokerage business of Merchant Partners Securities Public Company Limited, the Group acquired plant and equipment of $341,392 through the allocation of new ordinary shares of UOB Kay Hian Securities (Thailand) Public Company Limited as consideration paid (Note 36.2). In 2009, the Group acquired property, plant and equipment of $36,724,438 of which $4,700,000 remains unpaid and recorded in accrued operating expenses as part of trade and other payables in that year.

     









 

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