IPC CORPORATION LTD
AND ITS SUBSIDIARIES
SGX APPENDIX 7.2 ANNOUNCEMENT
FOR THE 6 MONTHS AND FULL YEAR ENDED
31 DECEMBER 2021
Contents | Page |
Condensed interim consolidated statement of comprehensive income | 1 |
Condensed interim statements of financial position | 2 |
Condensed interim statements of changes in equity | 3 |
Condensed interim consolidated statement of cash flows | 5 |
Notes to the condensed interim consolidated financial statements | 6 |
Other information required by Listing Rule Appendix 7.2 | 15 |
CONDENSED INTERIM CONSOLIDATED STATEMENT OF COMPREHENSIVE INCOME FOR THE 6 MONTHS AND FULL YEAR ENDED 31 DECEMBER 2021
Group | Group | |||||||
6 months ended 31 Dec | 12 months ended 31 Dec | |||||||
Notes | 2021 | 2020 | % | 2021 | 2020 | % | ||
(Audited) | ||||||||
S$'000 S$'000 | S$'000 | S$'000 | ||||||
Sales | 3 | 2,862 | 4,903 | (41.6) | 4,170 | 5,412 | (22.9) | |
Cost of sales | (3,132) | (5,301) | (40.9) | (4,688) | (6,482) | (27.7) | ||
Gross profit/(loss) | (270) | (398) | (32.2) | (518) | (1,070) | (51.6) | ||
Other income | 5 | 318 | 282 | 12.8 | 730 | 671 | 8.8 | |
Other gains/(losses), net | 5 | (1,489) | (4,259) | (65.0) | (4,055) | (23,248) | (82.6) | |
Expenses | 5 | |||||||
Distribution and marketing | (182) | (131) | 38.9 | (331) | (253) | 30.8 | ||
Administrative | (1,935) | (1,557) | 24.3 | (3,744) | (3,770) | (0.7) | ||
Finance | (237) | (333) | (28.8) | (547) | (622) | (12.1) | ||
(2,354) | (2,021) | 16.5 | (4,622) | (4,645) | (0.5) | |||
Profit/(loss) before income tax | ||||||||
(3,795) | (6,396) | (40.7) | (8,465) | (28,292) | (70.1) | |||
Income tax credit/(expense) | 6 | (335) | (137) | N.M | (383) | (137) | NM | |
Total profit/(loss) | ||||||||
(4,130) | (6,533) | (36.8) | (8,848) | (28,429) | (68.9) | |||
Other comprehensive income/(loss) | ||||||||
Items that may be reclassified subsequently to | ||||||||
profit or loss: | ||||||||
Currency translation gain/(loss) arising from | ||||||||
consolidation | 1,165 | 1,780 | (34.6) | 2,522 | 3,243 | (22.2) | ||
Items that will not be reclassified subsequently to | ||||||||
profit or loss: | ||||||||
Financial assets, at FVOCI - equity investments | ||||||||
- Fair value gain/(loss) | (279) | 626 | N.M | 85 | 871 | (90.2) | ||
Other comprehensive income/(loss), net of tax | 886 | 2,406 | (63.2) | 2,607 | 4,114 | (36.6) | ||
Total comprehensive income/(loss) | (3,244) | (4,127) | (21.4) | (6,241) | (24,315) | (74.3) | ||
Earnings/(losses) per share for profit/(loss) | ||||||||
attributable to equity holders of the | ||||||||
Company | ||||||||
(cents per share) | ||||||||
- Basic | (4.84) | (7.66) | (10.37) | (33.33) | ||||
- Diluted | (4.84) | (7.66) | (10.37) | (33.33) |
NM:Not meaningful (change more than 100%)
NA:Not applicable
IPC CORPORATION LTD AND ITS SUBSIDIARIES | Page 1 |
CONDENSED INTERIM STATEMENTS OF FINANCIAL POSITION
AS AT 31 DECEMBER 2021
Group | Company | |||||
31 Dec 2021 | 31 Dec 2020 | 31 Dec 2021 | 31 Dec 2020 | |||
Notes | (Audited) | (Audited) | ||||
S$'000 | S$'000 | S$'000 | S$'000 | |||
ASSETS | ||||||
Current assets | ||||||
Cash and cash equivalents | 3,758 | 8,099 | 2,538 | 3,607 | ||
Trade and other receivables | 398 | 754 | 152 | 169 | ||
Properties developed for sale | 13 | 10,932 | 11,040 | - | - | |
Properties held for sale | 13 | - | 2,526 | - | - | |
Other assets | 45 | 45 | - | - | ||
15,133 | 22,464 | 2,690 | 3,776 | |||
Non-current assets | ||||||
Financial assets, at FVPL | 9 | 1,366 | 4,352 | 1,366 | 4,352 | |
Financial assets, at FVOCI | 10 | 526 | 1,334 | - | - | |
Other receivables | 329 | 37 | 250 | - | ||
Investment in associated companies | - | - | - | - | ||
Investment in subsidiaries | 11 | - | - | 58,700 | 61,449 | |
Property, plant and equipment | 47,833 | 46,709 | 675 | 999 | ||
50,054 | 52,432 | 60,991 | 66,800 | |||
Total assets | 65,187 | 74,896 | 63,681 | 70,576 | ||
LIABILITIES | ||||||
Current liabilities | ||||||
Trade and other payables | 2,100 | 2,141 | 149 | 244 | ||
Current income tax liabilities | 338 | 11 | 116 | - | ||
Lease liabilities | 248 | 285 | 40 | 285 | ||
Borrowings | 14 | 915 | 5,201 | - | - | |
3,601 | 7,638 | 305 | 529 | |||
Non-current liabilities | ||||||
Lease liabilities | 365 | 8 | 6 | 8 | ||
Borrowings | 14 | 3,867 | 3,655 | - | - | |
4,232 | 3,663 | 6 | 8 | |||
Total liabilities | 7,833 | 11,301 | 311 | 537 | ||
NET ASSETS | 57,354 | 63,595 | 63,370 | 70,039 | ||
EQUITY | ||||||
Capital and reserves attributable to equity | ||||||
holders of the Company | ||||||
Share capital | 8 | 33,190 | 33,190 | 33,190 | 33,190 | |
Currency translation reserve | 157 | (2,365) | - | - | ||
Fair value reserve | (867) | (1,486) | - | - | ||
Retained earnings | 24,874 | 34,256 | 30,180 | 36,849 | ||
Total equity | 57,354 | 63,595 | 63,370 | 70,039 |
IPC CORPORATION LTD AND ITS SUBSIDIARIES | Page 2 |
CONDENSED INTERIM CONSOLIDATED STATEMENT OF CHANGES IN EQUITY
FOR THE 6 MONTHS AND YEAR ENDED 31 DECEMBER 2021
Attributable to Equity Holders of the Company | ||||||
Currency | Fair | |||||
Share | translation | value | Retained | Total | ||
capital | reserve | reserve | earnings | equity | ||
Group | S$'000 | S$'000 | S$'000 | S$'000 | S$'000 | |
2021 | ||||||
As at 1 January | 33,190 | (2,365) | (1,486) | 34,256 | 63,595 | |
Total comprehensive income/(loss) for the period | ||||||
Profit/(loss) for the period | - | - | - | (4,718) | (4,718) | |
Transfer upon disposal of financial assets, at FVOCI | - | - | 230 | (230) | - | |
Other comprehensive income/(loss) for the period | - | 1,357 | 364 | - | 1,721 | |
- | 1,357 | 594 | (4,948) | (2,997) | ||
As at 30 June | 33,190 | (1,008) | (892) | 29,308 | 60,598 | |
Total comprehensive income/(loss) for the period | ||||||
Profit/(loss) for the period | - | - | - | (4,130) | (4,130) | |
Transfer upon disposal of financial assets, at FVOCI | - | - | 304 | (304) | - | |
Other comprehensive income/(loss) for the period | - | 1,165 | (279) | - | 886 | |
- | 1,165 | 25 | (4,434) | (3,244) | ||
As at 31 December | 33,190 | 157 | (867) | 24,874 | 57,354 | |
2020 | ||||||
As at 1 January | 33,190 | (5,608) | (2,357) | 62,685 | 87,910 | |
Total comprehensive income/(loss) for the period | ||||||
Profit/(loss) for the period | - | - | - | (21,896) | (21,896) | |
Other comprehensive income/(loss) for the period | - | 1,463 | 245 | - | 1,708 | |
- | 1,463 | 245 | (21,896) | (20,188) | ||
As at 30 June | 33,190 | (4,145) | (2,112) | 40,789 | 67,722 | |
Total comprehensive income/(loss) for the period | ||||||
Profit/(loss) for the period | - | - | - | (6,533) | (6,533) | |
Other comprehensive income/(loss) for the period | - | 1,780 | 626 | - | 2,406 | |
- | 1,780 | 626 | (6,533) | (4,127) | ||
As at 31 December | 33,190 | (2,365) | (1,486) | 34,256 | 63,595 |
IPC CORPORATION LTD AND ITS SUBSIDIARIES | Page 3 |
CONDENSED INTERIM STATEMENT OF CHANGES IN EQUITY
FOR THE 6 MONTHS AND YEAR ENDED 31 DECEMBER 2021
Share capital | Retained | Total | ||
earnings | equity | |||
Company | S$'000 | S$'000 | S$'000 | |
2021 | ||||
As at 1 January | 33,190 | 36,849 | 70,039 | |
Total comprehensive income/(loss) for the period | ||||
Profit/(loss) for the period | - | (1,117) | (1,117) | |
- | (1,117) | (1,117) | ||
As at 30 June | 33,190 | 35,732 | 68,922 | |
Total comprehensive income/(loss) for the period | ||||
Profit/(loss) for the period | - | (5,552) | (5,552) | |
- | (5,552) | (5,552) | ||
As at 31 December | 33,190 | 30,180 | 63,370 | |
2020 | ||||
As at 1 January | 33,190 | 81,295 | 114,485 | |
Total comprehensive income/(loss) for the period | ||||
Profit/(loss) for the period | - | (19,125) | (19,125) | |
- | (19,125) | (19,125) | ||
As at 30 June | 33,190 | 62,170 | 95,360 | |
Total comprehensive income/(loss) for the period | ||||
Profit/(loss) for the period | - | (25,321) | (25,321) | |
- | (25,321) | (25,321) | ||
As at 31 December | 33,190 | 36,849 | 70,039 | |
IPC CORPORATION LTD AND ITS SUBSIDIARIES | Page 4 |
This is an excerpt of the original content. To continue reading it, access the original document here.