Slide 1: Financial Statement and Related Announcement
FINANCIAL STATEMENT AND RELATED ANNOUNCEMENT Page 1 of 1 Print this page First Quarter Results * Financial Statement And Related Announcement * Asterisks denote mandatory information Name of Announcer * IFS CAPITAL LIMITED Company Registration No. 198700827C Announcement submitted on behalf of IFS C
Slide 2: Table of Contents
(Registra ation no: 198700 0827C) Firstt Quarter Unaudited U F Financial Sta atements an nd Dividend d Announce ement for tthe Period Ended 31 March h 2012 TA ABLE OF C CONTENT TS Ite em Description n P Page No. Noo. Consoolidated Inco ome Stateme ent and Statement of Com mprehensive 1(a a)(i) Incom
Slide 3: Consolidated Income Statement for the Three Months Ended 31 March
(Regisstration no: 1987 700827C) F First Quarter Unaudited d Financial S Statements a and Dividend d Announce ement for the Period En nded 31 Marc ch 2 2012 1 1(a)(i) Consolidated Incom me Statement for the Three e Months Ended 31 March Note e 1stt Qtr 1st Qtr 1(a) 20012 2011 +/(-) (ii) S$’000 S$’0
Slide 4: Consolidated Statement of Comprehensive Income
Consolidated Statement of Comprehensive Income for the Three Months Ended 31 March Note 1st Qtr 1st Qtr 1(a) 2012 2011 +/(-) (ii) S$’000 S$’000 % Profit for the period 1,704 1,239 37.5 Other comprehensive loss Net change in fair value of available-for-sale financial assets (c) 464 (187) NM Foreign c
Slide 5: Explanatory Notes to Consolidated Income Statement
1(a)(ii) Explanatory Notes to Consolidated Income Statement The following items have been included in arriving at Group net profit for the period: 1st Qtr 1st Qtr 2012 2011 +/(-) S$’000 S$’000 % Investment income - dividend and interest income 352 357 (1.4) - gain on disposal of equity securities -
Slide 6: Explanatory Notes to Consolidated Income Statement (cont'd)
1(a)(ii) Explanatory Notes to Consolidated Income Statement (cont’d) Comments on Major Consolidated Income Statement Variances (a) The substantial increase in net interest income for 1st Quarter 2012 (“1Q 2012”) by 55% was mainly due to higher business volume led by strong growth in the underlying l
Slide 7: Earnings Per Ordinary Share
1(a)(iii) Earnings Per Ordinary Share Group 31/03/2012 31/03/2011 Earnings per share - on weighted average number of ordinary shares in issue 0.93 cents 0.67 cents - on fully diluted basis 0.93 cents 0.67 cents Basic earnings per share is calculated by dividing the net profit attributable to shareho
Slide 8: Statement of Financial Position
1(b)(i) Statement of Financial Position Group Company 31/03/2012 31/12/2011 31/03/2012 31/12/2011 Note S$’000 S$’000 S$’000 S$’000 Non-current assets Property, plant and equipment 19,218 19,226 16,606 16,655 Intangible assets 1,666 1,912 267 311 Subsidiaries - - 75,679 75,679 Other investments (a) 2
Slide 9: Comments on Major Statement of Financial Position Variances
Comments on Major Statement of Financial Position Variances (a) The decrease in other investments under non-current assets of the Group was due to the reclassification of corporate bonds maturing within the next twelve months to current assets. As a result of the reclassification, there was an incre
Slide 10: Group's Borrowings and Net Asset Value
1(b)(ii) Group’s Borrowings As at 31/03/2012 As at 31/12/2011 S$’000 S$’000 (Unsecured) (Unsecured) Amount repayable in one year or less, or on demand 200,654 181,061 Amount payable after one year 31,943 34,306 232,597 215,367 Details of any collateral Nil. 1(b)(iii) Net Asset Value Group Company 31
Slide 11: Consolidated Statement of Cash Flows
1(c) Consolidated Statement of Cash Flows for the Three Months Ended 31 March 1st Qtr 1st Qtr 2012 2011 Note S$’000 S$’000 Cash flows from operating activities Profit for the period 1,704 1,239 Adjustments for: Amortisation of intangible assets and held-to-maturity debt securities 250 168 Net foreig
Slide 12: Consolidated Statement of Cash Flows (cont'd)
1(c) Consolidated Statement of Cash Flows for the Three Months Ended 31 March (cont’d) 1st Qtr 1st Qtr 2012 2011 Note S$’000 S$’000 Cash flows from investing activities Proceeds from sale of property, plant and equipment 62 - Purchase of property, plant and equipment (281) (27) Purchase of intangibl
Slide 13: Explanatory Notes to Statement of Cash Flows
Explanatory Notes to Statement of Cash Flows (a) Net cash used in operating activities The higher net cash used in operating activities in 1Q 2012 was mainly due to increased business volume resulting in higher drawdown of loan and advances and factoring receivables as compared to same quarter last
Slide 14: Statement of Changes in Equity
1(d)(i) Statement of Changes in Equity Attributable to owners of the Company Fair Non- Share Capital value Translation Accumulated controlling capital reserve reserve reserve profits Total interests Total Group S$’000 S$’000 S$’000 S$’000 S$’000 S$’000 S$’000 S$’000 2011 At 1 January 2011 88,032 (81
Slide 15: Changes in Company's Share Capital
1(d)(ii) Changes in Company’s Share Capital Since 31 December 2011, there was no change in the issued share capital of the Company. The share capital of the Company as at 31 March 2012 was 150,387,866 ordinary shares. As at 31 March 2012, there was no outstanding unissued share under the IFS (2000)
Slide 16: Review of Group Performance
The adoption of the above amended FRS does not have any significant impact on the financial statements for the financial period under review. 6 Review of Group Performance 1st Quarter 2012 (“1Q 2012”) versus 1st Quarter 2011 (“1Q 2011”) Group pre-tax profit for 1Q 2012 rose 65% year-on-year to $2.4
Slide 17: Prospects and Dividend
Business volumes in our Thailand subsidiary have recovered after the flood disaster. Business is expected to remain healthy in 2012. Although business conditions remain competitive, the demand for bond and guarantee business in ECICS remains favorable on the back of the continual stream of infrastru
Slide 18: Confirmation by the Board Pursuant to Rule 705(4)
IFS Capital Limited (Registration no: 198700827C) Confirmation By The Board Pursuant to Rule 705(4) of the Listing Manual On behalf of the Board of Directors of IFS Capital Limited (‘the Company”), we, the undersigned, hereby confirm to the best of our knowledge that nothing has come to the attentio
Slide 19: First Quarter 2012 Unaudited Results Presentation
IFS Capital Limited IFS Capital Limited First Quarter 2012 Unaudited Results Presentation 11 May 2012 1
Slide 20: Contents and Disclaimer
IFS Capital Limited Contents 1. Highlights 2. Group Income Statement / Operating Expenses 3. Key Financial Ratios 4. Group Performance Review 5. Results of Subsidiaries - Regional Operations - ECICS 6. Prospects 7. Group Net Interest Margins 8. Net Gearing Disclaimer The following presentation may c
Slide 21: Highlights
IFS Capital Limited Highlights Group pre-tax profit for 1Q 2012 up 65% year-on-year to $2.4 million. Group after-tax profit lower increase of 38% to $1.7 million due to higher tax expenses of $694,000. After non-controlling interests, Group’s profit attributable to shareholders rose 40% to $1.4
Slide 22: Group Income Statement
IFS Capital Limited Group Income Statement 1st Qtr 1st Qtr +/(-) (S$’000) 2012 2011 % Net Interest Income 4,922 3,180 54.8 Net Earned Premium Revenue 422 560 (24.6) Non-Interest Income 2,427 2,633 (7.8) Total Income 7,771 6,373 21.9 Operating Expenses (5,212) (4,432) 17.6 Operating Profit before Net
Slide 23: Group Operating Expenses
IFS Capital Limited Group Operating Expenses 1st Qtr 1st Qtr +/(-) (S$’000) % % 2012 2011 % Commission 21 0.4 52 1.2 (59.6) Business Development 166 3.2 198 4.5 (16.2) Staff Costs 3,222 61.8 2,648 59.7 21.7 Depreciation & Amortisation 535 10.3 486 11.0 10.1 General Administration 1,268 24.3 1,048 23
Slide 24: Key Financial Ratios
IFS Capital Limited 1st Qtr 1st Qtr Key Financial Ratios 2012 2011 +/(-)% Return on Ave Equity – After Tax (%) 1.0 0.76 31.6 Earnings per Share (cts) 0.93 0.67 38.8 Net Asset Value per Share (cts) 90.0 88.4 1.8 Leverage (times) 1.9 1.3 46.2 Gearing (times) 1.7 1.2 41.7 6
Slide 25: Group Performance Review
IFS Capital Limited Group Performance Review 1Q 2012 vs 1Q 2011: Increase in Group pre-tax profit due to: Substantial 55% increase in net interest income, led by growth in financing activities achieved by all operating companies. Lower allowances for loan losses and impairment of investments att
Slide 26: Group Performance Review (cont'd)
IFS Capital Limited Group Performance Review (cont’d) 1Q 2012 vs 1Q 2011: Growth in net profits tempered by: Lower net earned premium revenue despite growth in underlying insurance business. Gross written premiums grew 8% (after intra-group transactions elimination) resulting from higher business
Slide 27: Group Performance Review (cont'd)
IFS Capital Limited Group Performance Review (cont’d) 1Q 2012 vs 1Q 2011: Operating expenses increased 18% mainly attributable to: Staff costs up 22% due to increase in staff strength for expansion of business and other staff related expenses. Increase in general and administrative expenses main
Slide 28: Regional Operations – Indonesia, Malaysia & Thailand
IFS Capital Limited Regional Operations – Indonesia, Malaysia & Thailand 1st Qtr 1st Qtr +/(-) (S$’000) 2012 2011 % Net Interest Income 2,510 1,820 37.9 Non-Interest Income 1,361 1,073 26.8 Operating Expenses (1,966) (1,617) 21.6 Operating Profit before Allowances 1,905 1,276 49.3 Allowances (73) (1
Slide 29: Regional Operations (cont'd)
IFS Capital Limited Regional Operations (cont’d) - Indonesia, Malaysia & Thailand All overseas subsidiaries continued steady income growth. Contributed total net profit after tax and after non-controlling interests - $1.0 million, up 53% compared to 1Q 2011. Higher contributions led by strong to
Slide 30: ECICS Limited
IFS Capital Limited ECICS Limited 1st Qtr 1st Qtr (S$’000) +/(-) % 2012 2011 Gross Written Premiums 2,075 1,955 6.1 Net Earned Premium Revenue 443 605 (26.8) Fee and Investment Income 676 645 4.8 Claims (Incurred)/Reversal (35) 69 NM Operating Expenses (912) (859) 6.2 Operating Profit before Allowan
Slide 31: ECICS Limited
IFS Capital Limited ECICS Limited Despite growth in gross written premiums by 6% due to higher business volume written for bonds and guarantees, lower profit for 1Q 2012 mainly due to: - net earned premium revenue declined by 27% due to higher technical actuarial provisioning for unexpired risks r
Slide 32: Prospects
IFS Capital Limited Prospects 1Q 2012 saw higher business volume registered as reflected in increase in Group’s lending portfolio and increased financing income. Group expects momentum of business growth to continue for current year for all operating companies. Business volumes in Thailand sub
Slide 33: Group Net Interest Margins
IFS Capital Limited Group Net Interest Margins… Net Interest Margins (“NIM”) 7 • Group NIM increased 6 since 2007 and maintained in 2011. 5 • For 1Q 2012, NIM 4 decreased by 0.55% % p.a. compared with 2011 3 mainly due to business volume built 2 up and competition. 1 0 2008 2009 2010 2011 Mar-12 Yea
Slide 34: Net Gearing
IFS Capital Limited Net Gearing … Net Gearing • Sharp drop in gearing 3.00 since 2005. Global • Note that decrease in 2.50 financial gearing came despite crisis - drop consolidation of Thailand in Gearing Reversal and further capitalisation 2.00 of Indonesia and Malaysia. Times 1.50 • Recent increas