Far East Group LimitedSGX: 5TJ

Full-Year Financial Results FY 2024

Mar 3, 2025 at 4:17 AM UTC · Issued by Far East Group Limited

UNAUDITED CONDENSED INTERIM FINANCIAL STATEMENTS FOR THE SIX MONTHS AND FULL YEAR ENDED 31 DECEMBER 2024

This announcement has been reviewed by the Company's sponsor, SAC Capital Private Limited (" SPONSOR ").This announcement has not been examined or approved by Singapore Exchange Securities Trading Limited (" SGX-ST ") and the SGX-ST assumes no responsibility for the contents of this announcement, including the correctness of any of the statements or opinions made, or reports contained in this announcement.

The contact person for the Sponsor is Ms. Lee Khai Yinn (Telephone: (65) 6232 3210) at 1 Robinson Road, #21-01 AIA Tower, Singapore 048542.

A. CONDENSED INTERIM CONSOLIDATED STATEMENT OF PROFIT OR LOSS AND OTHER COMPREHENSIVE INCOME

		Group
Notes	Unaudited	Unaudited	Unaudited	Audited	Change	Change
	2H2024	2H2023	FY2024	FY2023	+ve/(-ve)	+ve/(-ve)
	S$'000	S$'000	S$'000	S$'000	S$'000	%

Revenue	4
Cost of sales
Gross profit
Other operating income
Distribution and selling expenses
Administrative expenses
(Impairment loss)/reversal of impairment loss on
trade and other receivables and contract assets
Other operating expenses
Share of results of associates
Profit/(loss) from operations
Finance expenses
Interest income
Profit/(loss) before tax	6
Tax expense	7

Profit/(loss) for the period

Other comprehensive income

Items that will not be reclassified subsequently to profit or lossNet fair value gain/(loss) on equity instrument at fair value

through other comprehensive income ("FVOCI")

Item that may be reclassified subsequently to profit or lossForeign currency translation

Total comprehensive income for the period

Profit/(loss) for the period attributable to :-

54,488	42,631	98,743	79,559	19,184	24.1
(44,440)	(35,852)	(80,136)	(66,137)	(13,999)	21.2

10,048	6,779	18,607	13,422	5,185	38.6
2,843	899	3,700	2,043	1,657	81.1

(2,793)	(2,507)	(5,784)	(5,719)	(65)	1.1
(6,204)	(5,325)	(12,087)	(11,194)	(893)	8.0
(354)	447	(39)	(206)	167	(81.1)
(2)	(191)	(36)	(559)	523	(93.6)
492	938	1,437	875	562	64.2
(8,861)	(6,638)	(16,509)	(16,803)	294	(1.7)
4,030	1,040	5,798	(1,338)	7,136	n.m.
(1,197)	(1,200)	(2,257)	(2,203)	(54)	2.5
34	37	62	62	-	-

2,867	(123)	3,603	(3,479)	7,082	n.m.
(650)	(273)	(722)	(374)	(348)	93.1

2,217	(396)	2,881	(3,853)	6,734	n.m.
1,600	(2,639)	1,600	(2,639)	4,239	n.m.
(196)	(284)	93	(826)	919	n.m.
3,621	(3,319)	4,574	(7,318)	11,892	n.m.

Owners of the Company	2,092	(214)	3,051	(3,667)	6,718	n.m.
Non-controlling interests	125	(182)	(170)	(186)	16	(8.6)
	2,217	(396)	2,881	(3,853)	6,734	n.m.
Total comprehensive income for the period attributable to :-
Owners of the Company	3,520	(3,130)	4,744	(7,055)	11,799	n.m.
Non-controlling interests	101	(189)	(170)	(263)	93	(35.4)

	3,621	(3,319)	4,574	(7,318)	11,892	n.m.
Earnings/(loss) per share:
Basic and diluted (cents)	1.88	(0.19)	2.74	(3.29)

There were no potential dilutive ordinary shares existing during the respective financial periods.

1H: 6 months ended 30 June

2H: 6 months ended 31 December

FY: 12 months ended 31 December

n.m. : not meaningful

B. CONDENSED INTERIM STATEMENTS OF FINANCIAL POSITION
		Group	Company
		Unaudited	Audited	Unaudited	Audited
	Notes	31 Dec 2024	31 Dec 2023	31 Dec 2024	31 Dec 2023
		S$'000	S$'000	S$'000	S$'000
Non-current assets
Fixed assets	10	23,977	25,391	19,699	20,591
Investment property	11	-	44	-	-
Intangible assets		188	188	-	-
Right-of-use assets		14,574	14,466	13,554	13,534
Land use rights		1,580	1,622	-	-
Investment in subsidiaries		-	-	20,570	20,570
Investment in associates		9,731	8,910	7,281	7,281
Investment securities	9	8,775	6,522	-	-
Deferred tax assets		1,413	1,511	-	-
Total non-current assets		60,238	58,654	61,104	61,976
Current assets
Fixed asset held for sale	12	61	-	-	-
Inventories		16,114	15,598	6,475	7,656
Investment securities	9	1,601	997	1,601	997
Trade receivables		17,504	15,585	941	1,794
Contract assets		12,479	10,337	648	104
Other receivables		1,752	965	529	365
Deposits		403	305	57	55
Prepayments		322	220	103	50
Advance payment to suppliers		2,969	3,396	2,394	2,610
Amounts due from subsidiaries (trade)		-	-	1,777	543
Amounts due from subsidiaries (non-trade)		-	-	6,846	6,310
Amounts due from associates (trade)		224	419	-	-
Amounts due from associates (non-trade)		133	133	-	-
Tax recoverable		60	22	-	-
Fixed deposits		458	660	208	660
Cash and bank balances		6,012	5,732	1,286	897
Total current assets		60,092	54,369	22,865	22,041
Total assets		120,330	113,023	83,969	84,017
Current liabilities
Trade payables		10,634	9,380	1,286	1,443
Contract liabilities		1,777	2,503	253	941
Trust receipts and bills payable (secured)	13	11,731	10,863	7,990	7,000
Other payables		1,223	902	244	341
Accruals and other liabilities		12,444	10,442	3,614	2,404
Dividend payable		28	27	28	26
Amounts due to subsidiaries (trade)		-	-	7,136	5,401
Amounts due to subsidiaries (non-trade)		-	-	264	1,560
Provision for income tax		294	329	-	-
Lease liabilties (current)		879	790	568	554
Term loans (current)	13	9,103	8,424	4,739	4,224
Total current liabilities		48,113	43,660	26,122	23,894

Net current assets/(liabilities)		11,979	10,709	(3,257)	(1,853)
Non-current liabilities
Deferred tax liabilities		2,643	2,012	-	-
Lease liabilities (non-current)		14,285	14,116	13,848	13,716
Term loans (non-current)	13	10,164	12,624	10,164	12,361
Total non-current liabilities		27,092	28,752	24,012	26,077
Total liabilities		75,205	72,412	50,134	49,971
Net assets		45,125	40,611	33,835	34,046
Equity attributable to owners of the Company
Share capital	14	19,680	19,680	19,680	19,680
Retained earnings		20,877	17,826	13,833	14,044
Fair value adjustment reserve		6,778	4,977	-	-
Capital reserve		230	230	322	322
Translation reserve		(4,424)	(4,316)	-	-
		43,141	38,397	33,835	34,046
Non-controlling interests		1,984	2,214	-	-
Total equity
	45,125	40,611	33,835	34,046

C. CONDENSED INTERIM CONSOLIDATED STATEMENT OF CASH FLOWS
	Group
	FY2024	FY2023
	Unaudited	Audited
	S$'000	S$'000
Cash flows from operating activities
Profit/(loss) before tax	3,603	(3,479)
Adjustments:
Impairment loss on trade and other receivables and contract assets	39	206
Allowance for obsolete and slow-moving inventories, net	573	205
Fixed assets written off	5	1
(Gains)/loss on disposal of fixed assets, net	(11)	43
Gains on disposal of investment property	(637)	-
Depreciation of fixed assets	1,599	1,676
Depreciation of investment property	1	2
Depreciation of right-of-use assets	1,019	977
Depreciation of land use rights	44	44
Dividend income from investment securities	(310)	(312)
Net fair value (gain)/ loss on investment securities	(133)	198
Finance expenses	2,257	2,203
Interest income	(62)	(62)
Share of results of associates	(1,437)	(875)
Translation difference	497	(427)

Operating cash flows before working capital changes	7,047	400
(Increase)/decrease in:
Inventories	(1,090)	3,408
Trade receivables	(1,908)	1,249
Other receivables	(926)	302
Contract assets	(2,012)	465
Deposits, prepayments and advance payment to suppliers	226	(64)
Amounts due from associates (trade)	15	336
Increase/(decrease) in:
Trade payables	12,985	6,353
Contract liabilities	(727)	611
Other payables	286	76
Accruals and other liabilities	2,002	3,432

Cash flows generated from operations	15,898	16,568
Interest paid	(1,637)	(1,643)
Income taxes paid	(413)	(838)
Income taxes refunded	5	37
Interest income	62	62

Net cash flows generated from operating activities	13,915	14,186
Cash flows from investing activities
Proceeds from disposal of fixed assets	12	80
Proceeds from disposal of investment property	622	-
Proceeds from disposal of investment securities	-	1,715
Purchase of fixed assets	(231)	(525)
Purchase of investment securities	(471)	(550)
Dividends received	456	493

Net cash flows generated from investing activities	388	1,213
Cash flows from financing activities
Dividends paid	-	(223)
Dividends paid to non-controlling interest of a subsidiary	(60)	-
Fixed deposits pledged to bank	200	-
Repayment of trust receipts and bills payable	(41,923)	(43,555)
Proceeds from trust receipts and bills payable	31,059	31,040
Payment of principal portion of lease liabilities	(877)	(1,017)
Interest paid on lease liabilities	(621)	(560)
Proceeds of term loans, net	25,035	16,207
Repayment from term loans	(26,817)	(17,019)

Net cash flows used in financing activities	(14,004)	(15,127)
Net increase in cash and cash equivalents	299	272
Effect of exchange rate changes on cash and cash equivalents	(21)	(49)
Cash and cash equivalents at beginning of period	6,192	5,969
Cash and cash equivalents at end of period	6,470	6,192
Cash and cash equivalents consist of the following :
Cash and bank balances	6,012	5,732
Less: Bank deposit pledged	-	(200)
Fixed deposits	458	660

	6,470	6,192

D. CONDENSED INTERIM STATEMENTS OF CHANGES IN EQUITY

Attributable to owners of the Company

Group

Balance at 1 January 2024

Profit for the year

Other comprehensive incomeForeign currency translation Net fair value gain on equity

instrument at FVOCI Total comprehensive income Contributions by and

distribution to owners

Dividends paid to non-controlling interest of a subsidiary

Balance at 31 December 2024

Balance at 1 January 2023

Loss for the year

Other comprehensive incomeForeign currency translation Net fair value loss on equity

instrument at FVOCI Total comprehensive income Contributions by and

distribution to owners

Dividends on ordinary shares

Balance at 31 December 2023

Company

Balance at 1 January 2024

Loss for the year, representing total comprehensive income for the period

Balance at 31 December 2024

Balance at 1 January 2023

Loss for the year, representing total comprehensive income for the period

Contributions by and distribution to owners

Dividends on ordinary shares

Balance at 31 December 2023

	Equity
Equity,	attributable to		Retained	Fair value	Capital	Translation	Non-
owners of the	Share capital	adjustment	controlling
total	earnings	reserve	reserve
Company,		reserve	interests

	total
S$'000	S$'000	S$'000	S$'000	S$'000	S$'000	S$'000	S$'000
40,611	38,397	19,680	17,826	4,977	230	(4,316)	2,214
2,881	3,051	-	3,051	-	-	-	(170)
93	93	-	-	201	-	(108)	-
1,600	1,600	-	-	1,600	-	-	-
4,574	4,744	-	3,051	1,801	-	(108)	(170)

(60)	-	-		-	-	-	(60)
45,125	43,141	19,680	20,877	6,778	230	(4,424)	1,984

48,152	45,675	19,680	21,716	7,455	230	(3,406)	2,477
(3,853)	(3,667)	-	(3,667)	-	-	-	(186)
(826)	(749)	-	-	161	-	(910)	(77)
(2,639)	(2,639)	-	-	(2,639)	-	-	-
(7,318)	(7,055)	-	(3,667)	(2,478)	-	(910)	(263)
(223)	(223)	-	(223)	-	-	-	-
40,611	38,397	19,680	17,826	4,977	230	(4,316)	2,214

34,046	34,046	19,680	14,044	-	322	-	-
(211)	(211)	-	(211)	-	-	-	-
33,835	33,835	19,680	13,833	-	322	-	-

37,609	37,609	19,680	17,607	-	322	-	-
(3,340)	(3,340)	-	(3,340)	-	-	-	-
(223)	(223)	-	(223)	-	-	-	-
34,046	34,046	19,680	14,044	-	322	-	-

E. NOTES TO THE CONDENSED INTERIM CONSOLIDATED FINANCIAL STATEMENTS

1. Corporate Information

Far East Group Limited (the "Company") is incorporated and domiciled in Singapore and whose shares are publicly traded on the Catalist of the Singapore Exchange. These condensed interim consolidated financial statements as at and for the 6 months and the financial year ended 31 December 2024 comprise the Company and its subsidiaries (collectively, the "Group"). The principal activities of the Company consist of manufacturing and trading of refrigeration parts, servicing of cold rooms, construction and installation of commercial and industrial cold rooms and all other incidental business of refrigeration.

The principal activities of the Group are disclosed in Note 4 on segment and revenue information below.

2. Basis of Preparation

The condensed interim financial statements for the six months and the full year ended 31 December 2024 have been prepared in accordance with SFRS(I) 1-34 Interim Financial Reporting issued by the Accounting Standards Council Singapore. The condensed interim financial statements do not include all the information required for a complete set of financial statements. However, selected explanatory notes are included to explain events and transactions that are significant to an understanding of the changes in the Group's financial position and performance of the Group since the last interim financial statements for the 1H2024.

The accounting policies adopted are consistent with those of the previous financial year which were prepared in accordance with Singapore Financial Reporting Standards (International) ("SFRS(I)s"), except for the adoption of new and amended standards as set out in Note 2.1.

The condensed interim financial statements are presented in Singapore dollar which is the Company's functional currency.

The financial information contained in this announcement has neither been audited nor reviewed by the auditors.

The latest audited annual financial statements were not subject to an adverse opinion, qualified opinion or disclaimer of opinion.

The condensed interim financial statements are presented in Singapore dollar which is the Company's functional currency. The financial information contained in this announcement has neither been audited nor reviewed by the auditors. The latest audited annual financial statements were not subject to an adverse opinion, qualified opinion or disclaimer of opinion.

2.1. New and amended standards adopted by the Group

The Group has adopted all the new and amended standards which are relevant to the Group and are effective for annual financial periods beginning on or after 1 January 2024. The Group did not have to change its accounting policies or make retrospective adjustments as a result of adopting those standards.

2.2. Use of judgements and estimates

The preparation of the Group's consolidated financial statements requires management to make judgements, estimates and assumptions that affect the reported amounts of revenues, expenses, assets and liabilities and the disclosure of contingent liabilities at the end of the reporting period. Uncertainty about these assumptions and estimates could result in outcomes that could require a material adjustment to the carrying amount of the asset or liability affected in the future periods.

2.2.1 Judgements made in applying accounting policies 2.2.1a Income taxes

Uncertainties exist with respect to the interpretation of complex tax regulations and the amount and timing of future taxable income. Given the Group's regional business relationships and the nature and complexity of existing contractual agreements, differences arising between the actual results and the assumptions made, or future changes to such assumptions, could necessitate future adjustments to tax provisions already recorded.

The Group establishes provisions, based on reasonable estimates, for possible consequences of audits by the tax authorities of the respective countries in which it operates. The amount of such provisions is based on various factors, such as experience of previous tax audits and differing interpretations of tax regulations by the taxable entity and the relevant tax authority. Such differences of interpretation may arise on a wide variety of issues depending on the conditions prevailing in the respective Group's domicile.

Deferred tax assets are recognised for all unused tax losses to the extent that it is probable that taxable profit will be available against which the losses can be utilised. Significant management judgement is required to determine the amount of deferred tax assets that can be recognised, based upon the timing and level of future taxable profits together with future tax planning strategies.

As at 31 December 2024, the carrying amounts of the Group's tax recoverable, provision for income tax, deferred tax assets and deferred tax liabilities amounted to S$60,000 (31 December 2023: $22,000), S$294,000 (31 December 2023: $329,000), S$1,413,000 (31 December 2023: S$1,511,000) and S$2,643,000 (31 December 2023: S$2,012,000) respectively.

2.2.1b Assessment of classification of unquoted investment security

The Group holds 30% equity interest in its unquoted investment security. The Group does not participate in the operating and financing decision process, fails to obtain representation on the board of directors and is unable to obtain timely or adequate financial information required to apply equity method. Based on these facts and circumstances, management concludes that the Group cannot exert a significant influence in its unquoted investment security and classifies this investment as financial instrument carried at fair value through other comprehensive income.

2.2.2 Key sources of estimation uncertainty

The key assumptions concerning the future and other key sources of estimation uncertainty at the end of the reporting period are discussed below. The Group based its assumptions and estimates on parameters available when the financial statements were prepared. Existing circumstances and assumptions about future developments, however, may change due to market changes or circumstances arising beyond the control of the Group. Such changes are reflected in the assumptions when they occur.

2.2.2a Impairment of non-financial assets

An impairment exists when the carrying value of an asset or cash-generating unit exceeds its recoverable amount, which is the higher of its fair value less costs to sell and its value in use. The value in use calculation is based on a discounted cash flow model. The cash flows are derived from the forecast for the next five years. The recoverable amount is most sensitive to the discount rate used for the discounted cash flow model as well as the expected future cash inflows and the growth rate used for extrapolation purposes.

As at 31 December 2024, the carrying amounts of the Company's investments in subsidiaries were S$20,570,000 (31 December 2023: S$20,570,000).

2.2.2b Expected credit losses for trade receivables and contract assets

The Group uses a provision matrix to calculate ECLs for trade receivables and contract assets. For trade receivables and contract assets, the provision rates are based on days past due for groupings of various customer segments that have similar loss patterns.

The provision matrix is initially based on the Group's historical observed default rates. The Group will calibrate the matrix to adjust historical credit loss experience with forward-looking information. At every reporting date, historical default rates are updated and changes in the forward-looking estimates are incorporated.

The assessment of the correlation between historical observed default rates, forecast economic conditions and ECLs is a significant estimate. The amount of ECLs is sensitive to changes in circumstances and of forecast economic conditions. The Group's historical credit loss experience and forecast of economic conditions may also not be representative of customer's actual default in the future.

As at 31 December 2024, the carrying amounts of the Group's and Company's trade receivables and contract assets, including balances with subsidiaries and associates totaled S$30,207,000 (31 December 2023: S$26,341,000) and S$3,366,000 (31 December 2023: S$2,441,000) respectively.

2.2.2c Fair value measurement of unquoted equity security

The Group has investment in unquoted equity security which is measured at FVOCI. This requires the Group to engage external valuation expert to perform the valuation.

This financial instrument is categorised as Level 3 in the fair value hierarchy where certain pricing inputs to value these instruments are unobservable. The valuation involves the application of unobservable inputs such as discount for lack of marketability used by the external valuation expert.

As at 31 December 2024, the carrying amount of the unquoted equity security amounted to S$8,775,000 (31 December 2023: S$6,522,000).

2.2.2d Revenue from engineering contracts

Engineering contracts revenue is recognised over time by reference to the Group's progress towards completing the performance obligation in the contract. The measure of progress is based on the costs incurred to date as a proportion of total costs expected to be incurred up to the completion of the performance obligation within the contract.

Significant assumptions are required to estimate the total contract costs that will affect the stage of completion and revenue recognised. The estimates are based on the past experiences and knowledge of the project director and the quantity surveyor team.

Contract revenue comprises the initial amount of revenue agreed in the contract and variations in contract work to the extent that it is highly probable that a significant reversal in the amount of cumulative revenue recognised will not occur when the uncertainty associated with the variable consideration is subsequently resolved.

As at 31 December 2024, the carrying amounts of the Group's contract assets arising from engineering contracts amounted to S$12,479,000 (31 December 2023: S$10,337,000).

3. Seasonal operations

The Group's businesses are not affected significantly by seasonal or cyclical factors during the financial period.

4. Segment and revenue information

For management purposes, the Group is organised into business units based on their products and services, and has three reportable operating segments as follows:

Wholesale and Distribution segment represents the sale of the Group's own manufactured products, multinational agency products and other distribution models of the Group;
Manufacturing segment mainly comprises the manufacturing and sale of the Group's comprehensive range of energy-efficient heat-exchangers, compressor racks and condensing units; and
Engineering Solutions segment represents the provision of system design and installation of various sustainable engineering solutions and applications for various industries.

4.1. Reportable segments
	Wholesale
	and	Manufacturing	Engineering Solutions	Elimination	Total
Group	Distribution
	$'000	$'000	$'000	$'000	$'000
FY2024
Revenue	51,814	20,470	46,808	(20,349)	98,743
Cost of sales	(42,869)	(16,752)	(40,864)	20,349	(80,136)
Gross profit	8,945	3,718	5,944		18,607
FY2023
Revenue	42,014	19,476	31,991	(13,922)	79,559
Cost of sales	(34,578)	(16,075)	(29,406)	13,922	(66,137)
Gross profit	7,436	3,401	2,585		13,422

4.2. Disaggregation of Revenue
	Wholesale
	and		Manufacturing	Engineering Solutions	Elimination	Total
Segment	Distribution
	2H2024	2H2023	2H2024	2H2023	2H2024	2H2023	2H2024	2H2023	2H2024	2H2023
	$'000	$'000	$'000	$'000	$'000	$'000	$'000	$'000	$'000	$'000
Primary geographical markets
Singapore	4,804	5,077	1,091	1,066	24,067	17,506	(1,453)	(1,547)	28,509	22,102
Malaysia	12,261	8,483	612	293	8	-	(4,928)	(2,399)	7,953	6,377
Indonesia	5,634	5,060	-	-	-	-	(2,013)	(1,970)	3,621	3,090
Hong Kong/Macau/People's	3,167	1,288	11,950	9,394	-	-	(1,550)	(669)	13,567	10,013
Republic of China
Indo-China*	761	1,179	-	-	235	57	(199)	(661)	797	575
Others	26	466	15	8	-	-	-	-	41	474

26,653

21,553

13,668

10,761

24,310

17,563

54,488 42,631

Revenue contribution from a single region is disclosed separately when it exceeds 5% of the Group's revenue respectively.

Major revenue streams
Sale of goods	24,987	21,072	13,668	10,761	218	208	(10,302)	(7,261)	28,571	24,780
Project installation and	-	15	-	-	2,328	1,811	159	-	2,487	1,826
maintenance services
Engineering contracts revenue	1,666	466	-	-	21,764	15,544	-	15	23,429	16,025

26,653

21,553

13,668

10,761

24,310

17,563

54,488 42,631

Timing of transfer of goods or services
At a point in time	24,987	21,087	13,668	10,761	2,546	2,019	(10,302)	(7,261)	30,900	26,606
Over time	1,666	466	-	-	21,764	15,544	159	15	23,588	16,025

26,653

21,553

13,668

10,761

24,310

17,563

54,488 42,631

* relates to Vietnam, Myanmar and Cambodia

4.2. Disaggregation of Revenue
	Wholesale
	and		Manufacturing	Engineering Solutions	Elimination	Total
Segment	Distribution
	FY2024	FY2023	FY2024	FY2023	FY2024	FY2023	FY2024	FY2023	FY2024	FY2023
	$'000	$'000	$'000	$'000	$'000	$'000	$'000	$'000	$'000	$'000
Primary geographical markets
Singapore	10,132	10,571	2,524	2,292	46,435	31,761	(3,430)	(3,189)	55,661	41,435
Malaysia	23,435	17,474	1,222	894	8	-	(9,601)	(5,644)	15,064	12,724
Indonesia	9,999	7,573	-	-	-	-	(3,469)	(2,207)	6,530	5,366
Hong Kong/Macau/People's	5,393	2,430	16,709	16,264	-	-	(2,630)	(1,417)	19,472	17,277
Republic of China
Indo-China*	2,242	3,184	-	-	365	230	(1,219)	(1,465)	1,388	1,949
Others	613	782	15	26	-	-	-	-	628	808

51,814

42,014

20,470

19,476

46,808

31,991

98,743 79,559

Major revenue streams
Sale of goods	49,798	41,211	20,470	19,476	507	433	(20,349)	(13,922)	50,426	47,198
Project installation and	-	31	-	-	3,970	2,614	-	-	3,970	2,645
maintenance services
Engineering contracts revenue	2,016	772	-	-	42,331	28,944	-	-	44,347	29,716

51,814

42,014

20,470

19,476

46,808

31,991

98,743 79,559

Timing of transfer of goods or services
At a point in time	49,798	41,242	20,470	19,476	4,477	3,047	(20,349)	(13,922)	54,396	49,843
Over time	2,016	772	-	-	42,331	28,944	-	-	44,347	29,716

51,814

42,014

20,470

19,476

46,808

31,991

98,743 79,559

* relates to Vietnam, Myanmar and Cambodia

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