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Financials

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

   
  Group
2011
$
Group
2010
$
 
Revenue 377,094,197 439,945,231
Net foreign exchange gain 9,235,976 6,531,518
Realised (loss) gain on financial assets, available-for-sale (82,049) 7,673,049
Commission expense (70,964,708) (95,434,268)
Staff costs (105,598,843) (122,166,199)
Finance expense (31,343,443) (9,667,842)
Other operating expenses (69,391,854) (60,439,641)
Profit before income tax 108,949,276 166,441,848
Income tax expense (15,699,997) (25,503,785)
Profit for the year 93,249,279 140,938,063
 
Other comprehensive (expense) income:
Exchange differences on translation of foreign operations (1,015,831) (22,434,528)
Available-for-sale investments 201,195 (7,776,091)
Income tax relating to components of other comprehensive income (69,344) 200,507
Other comprehensive expense for the year, net of tax (883,980) (30,010,112)
Total comprehensive income for the year 92,365,299 110,927,951
 
Profit attributable to:
Owners of the Company 91,935,371 139,519,427
Non-controlling interests 1,313,908 1,418,636
  93,249,279 140,938,063
 
Total comprehensive income attributable to:
Owners of the Company 92,075,224 109,386,391
Non-controlling interests 290,075 1,541,560
  92,365,299 110,927,951
 
Earnings per share - Basic and diluted 12.69 cents 19.25 cents
   
  Group
2011
$
Group
2010
$
ASSETS
Current assets
Cash and bank balances 357,745,654 285,834,628
Outstanding contracts receivable 404,040,287 876,078,828
Trade receivables 1,229,848,924 1,701,931,102
Other financial assets, at fair value through profit or loss 30,149,266 28,189,483
Other current assets 22,873,165 21,646,599
Derivative financial instruments 13,414 186,689
Total current assets 2,044,670,710 2,913,867,329
 
Non-current assets
Trade receivables 79,292,000 29,221,129
Goodwill 5,187,874 4,022,655
Subsidiaries - -
Associates - -
Financial assets, available-for-sale 13,821,183 9,083,619
Trading rights in Exchanges 97,353 96,413
Memberships in Exchanges 441,201 235,915
Property, plant and equipment 65,231,047 71,442,613
Deferred tax assets 724,150 367,319
Total non-current assets 164,794,808 114,469,663
Total assets 2,209,465,518 3,028,336,992
 
LIABILITIES
Current liabilities
Outstanding contracts payable 377,161,853 791,716,378
Trade and other payables 96,646,418 154,679,460
Other financial liabilities, at fair value through profit or loss - 1,140
Borrowings 308,751,793 645,824,983
Debts issued 295,711,270 325,387,000
Income tax payable 16,651,887 25,392,102
Derivative financial instruments 678,724 9,169
Total current liabilities 1,095,601,945 1,943,010,232
 
Non-current liabilities
Trade and other payables 3,635,770 -
Deferred tax liabilities 1,834,560 1,685,770
Total non-current liabilities 5,470,330 1,685,770
Total liabilities 1,101,072,275 1,944,696,002
 
EQUITY
Capital, reserves and non-controlling interests
Share capital 72,470,901 72,470,901
Reserves (43,174,104) (43,815,582)
Retained earnings 1,057,501,489 1,034,665,787
Equity attributable to owners of the Company 1,086,798,286 1,063,321,106
Non-controlling interests 21,594,957 20,319,884
Total equity 1,108,393,243 1,083,640,990
Total liabilities and equity 2,209,465,518 3,028,336,992
 
Clients' trust/segregated accounts
Bank balances
- with related parties 181,429,763 364,008,159
- with non-related banks 628,485,197 530,140,374
Margin with clearing house 12,976,402 11,778,239
Less: Amounts held in trust (822,891,362) (905,926,772)
  - -
     
   
  2011
$
2010
$
Operating activities
Profit before income tax 108,949,276 166,441,848
Adjustments for:
Depreciation expense 9,651,712 9,457,757
Net loss on disposal of property, plant and equipment 77,863 78,140
Property, plant and equipment written off - 15,246
Realised loss (gain) on financial assets, available-for-sale 82,049 (7,673,049)
Dividend income (578,828) (1,001,671)
Allowance (write back of allowance) for trade receivables 3,994,540 (161,827)
Allowance for impairment in financial assets, available-for-sale
246,634 131,157
Interest expense 31,343,443 9,667,842
Exchange differences (6,065,756) (16,850,690)
Operating cash flows before movements in working capital 147,700,933 160,104,753
 
Changes in operating assets and liabilities:
Other financial assets/liabilities, at fair value through profit or loss
(1,960,923) (1,959,940)
Trade, outstanding contracts and other receivables [Note A] 914,702,158 (216,047,075)
Trade, outstanding contracts and other payables (480,615,074) (119,070,850)
Debts issued [Note A] (29,675,730) 148,177,500
Cash from (used in) operations 550,151,364 (28,795,612)
 
Interest paid (31,343,443) (9,667,842)
Income tax paid (24,266,978) (19,257,997)
Net cash from (used in) operating activities 494,540,943 (57,721,451)
 
Investing activities
Payments for property, plant and equipment [Note B] (3,442,057) (3,933,233)
Acquisition of subsidiary (19,139,657) -
Proceeds from disposal of financial assets, available-for-sale 1,755,015 8,598,874
Proceeds from disposal of property, plant and equipment 115,807 22,622
Proceeds from liquidation of associates - 78,729
Payment to non-controlling interests for dividend (244,603) (246,121)
Payment for financial assets, available-for-sale (173,211) -
Dividends received from quoted/unquoted securities 578,828 1,001,671
Net cash (used in) from investing activities (20,549,878) 5,522,542
 
Financing activities
Payment to non-controlling interests for additional interest in a subsidiary
(946,615) (263,527)
Net (repayment) drawdown of short-term bank loans (329,708,933) 222,860,208
Dividends paid (68,847,356) (57,976,720)
Net cash (used in) from financing activities (399,502,904) 164,619,961
 
Effects of exchange rate changes on the balance of cash and cash equivalents held in foreign currencies
4,787,122 (5,520,653)
Net increase in cash and bank balances 79,275,283 106,900,399
Cash and cash equivalents at beginning of the year 274,330,002 167,429,603
Cash and cash equivalents at end of the year 353,605,285 274,330,002

 

Notes: Non-cash transactions

Note A
In 2010, the Group issued debts amounting to $325,387,000 of which $177,209,500 had 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.

     









 

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