(Co. Reg. No. 196800586R)
(Incorporated in the Republic of Singapore)
1(a)(i) An income statement (for the group) together with a comparative statement for the corresponding period of the immediately preceding financial year
The Group | |||
1.7.2013 - 30.9.2013 | 1.7.2012 - 30.9.2012 | Increase/ (Decrease) | |
S$'000 | S$'000 | % | |
Revenue Other gains - net Expenses: Purchases of inventories Employee compensation Depreciation of property, plant and equipment Finance expenses Other operating expenses Changes in inventories Total expenses Profit before income tax Income tax credit/(expense) Total profit Profit/(loss) attributable to: Equity holders of the Company Non-controlling interests | 5,434 715 | 8,591 593 | (37) 21 (49) (3) (4) n/m 22 (96) (36) (6) n/m (13) 14 n/m (13) |
Revenue Other gains - net Expenses: Purchases of inventories Employee compensation Depreciation of property, plant and equipment Finance expenses Other operating expenses Changes in inventories Total expenses Profit before income tax Income tax credit/(expense) Total profit Profit/(loss) attributable to: Equity holders of the Company Non-controlling interests | (3,410) (477) (588) -- (896) 7 | (6,678) (490) (610) (1) (733) 162 | (37) 21 (49) (3) (4) n/m 22 (96) (36) (6) n/m (13) 14 n/m (13) |
Revenue Other gains - net Expenses: Purchases of inventories Employee compensation Depreciation of property, plant and equipment Finance expenses Other operating expenses Changes in inventories Total expenses Profit before income tax Income tax credit/(expense) Total profit Profit/(loss) attributable to: Equity holders of the Company Non-controlling interests | (5,364) | (8,350) | (37) 21 (49) (3) (4) n/m 22 (96) (36) (6) n/m (13) 14 n/m (13) |
Revenue Other gains - net Expenses: Purchases of inventories Employee compensation Depreciation of property, plant and equipment Finance expenses Other operating expenses Changes in inventories Total expenses Profit before income tax Income tax credit/(expense) Total profit Profit/(loss) attributable to: Equity holders of the Company Non-controlling interests | 785 108 | 834 (44) | (37) 21 (49) (3) (4) n/m 22 (96) (36) (6) n/m (13) 14 n/m (13) |
Revenue Other gains - net Expenses: Purchases of inventories Employee compensation Depreciation of property, plant and equipment Finance expenses Other operating expenses Changes in inventories Total expenses Profit before income tax Income tax credit/(expense) Total profit Profit/(loss) attributable to: Equity holders of the Company Non-controlling interests | 893 | 790 | (37) 21 (49) (3) (4) n/m 22 (96) (36) (6) n/m (13) 14 n/m (13) |
Revenue Other gains - net Expenses: Purchases of inventories Employee compensation Depreciation of property, plant and equipment Finance expenses Other operating expenses Changes in inventories Total expenses Profit before income tax Income tax credit/(expense) Total profit Profit/(loss) attributable to: Equity holders of the Company Non-controlling interests | (37) 21 (49) (3) (4) n/m 22 (96) (36) (6) n/m (13) 14 n/m (13) | ||
Revenue Other gains - net Expenses: Purchases of inventories Employee compensation Depreciation of property, plant and equipment Finance expenses Other operating expenses Changes in inventories Total expenses Profit before income tax Income tax credit/(expense) Total profit Profit/(loss) attributable to: Equity holders of the Company Non-controlling interests | 894 (1) | 781 9 | (37) 21 (49) (3) (4) n/m 22 (96) (36) (6) n/m (13) 14 n/m (13) |
Revenue Other gains - net Expenses: Purchases of inventories Employee compensation Depreciation of property, plant and equipment Finance expenses Other operating expenses Changes in inventories Total expenses Profit before income tax Income tax credit/(expense) Total profit Profit/(loss) attributable to: Equity holders of the Company Non-controlling interests | 893 | 790 | (37) 21 (49) (3) (4) n/m 22 (96) (36) (6) n/m (13) 14 n/m (13) |
n/m - denotes not meaningful
LAP (1Q 30.9.13) Page 1 of 11
1(a)(ii) A statement of comprehensive income (for the group) together with a comparative statement for the corresponding period of the immediately preceding financial year
Consolidated Statement of Comprehensive IncomeThe Group | |||
1.7.2013 - 30.9.2013 | 1.7.2012 - 30.9.2012 | Increase/ (Decrease) | |
S$'000 | S$'000 | % | |
Total profit Other comprehensive loss: Available-for-sale financial assets - Fair value loss Currency translation differences arising from consolidation Other comprehensive loss, net of tax Total comprehensive loss Total comprehensive income/(loss) attributable to: Equity holders of the Company Non-controlling interests | 893 | 790 | (13) (5) 103 45 72 n/m n/m n/m |
Total profit Other comprehensive loss: Available-for-sale financial assets - Fair value loss Currency translation differences arising from consolidation Other comprehensive loss, net of tax Total comprehensive loss Total comprehensive income/(loss) attributable to: Equity holders of the Company Non-controlling interests | (877) (1,608) | (920) (794) | (13) (5) 103 45 72 n/m n/m n/m |
Total profit Other comprehensive loss: Available-for-sale financial assets - Fair value loss Currency translation differences arising from consolidation Other comprehensive loss, net of tax Total comprehensive loss Total comprehensive income/(loss) attributable to: Equity holders of the Company Non-controlling interests | (2,485) | (1,714) | (13) (5) 103 45 72 n/m n/m n/m |
Total profit Other comprehensive loss: Available-for-sale financial assets - Fair value loss Currency translation differences arising from consolidation Other comprehensive loss, net of tax Total comprehensive loss Total comprehensive income/(loss) attributable to: Equity holders of the Company Non-controlling interests | (1,592) | (924) | (13) (5) 103 45 72 n/m n/m n/m |
Total profit Other comprehensive loss: Available-for-sale financial assets - Fair value loss Currency translation differences arising from consolidation Other comprehensive loss, net of tax Total comprehensive loss Total comprehensive income/(loss) attributable to: Equity holders of the Company Non-controlling interests | (13) (5) 103 45 72 n/m n/m n/m | ||
Total profit Other comprehensive loss: Available-for-sale financial assets - Fair value loss Currency translation differences arising from consolidation Other comprehensive loss, net of tax Total comprehensive loss Total comprehensive income/(loss) attributable to: Equity holders of the Company Non-controlling interests | 1,593 (1) | (933) 9 | (13) (5) 103 45 72 n/m n/m n/m |
Total profit Other comprehensive loss: Available-for-sale financial assets - Fair value loss Currency translation differences arising from consolidation Other comprehensive loss, net of tax Total comprehensive loss Total comprehensive income/(loss) attributable to: Equity holders of the Company Non-controlling interests | 1,592 | (924) | (13) (5) 103 45 72 n/m n/m n/m |
n/m - denotes not meaningful
1(a)(iii) Additional disclosures
The Group | ||
1.7.2013 - 30.9.2013 | 1.7.2012 - 30.9.2012 | |
S$'000 | S$'000 | |
Profit before income tax is arrived after (charging)/crediting: Currency translation losses - net Insurance Maintenance expenses Listing expenses Material handling Professional fee Rental on operating lease Utilities Interest income: - bank deposits - charged to related parties and third parties - Management fee income - Shortfall claims on minimum purchases from related parties | (44) (33) (56) (13) (83) -- (109) (248) 70 76 30 554 | (211) (45) (34) (10) (68) (5) (101) (214) 207 175 30 352 |
LAP (1Q 30.9.13) Page 2 of 11
1(b)(i) A balance sheet (for the issuer and group), together with a comparative statement as at the end of the immediately preceding financial year
Balance SheetsThe Group | The Company | ||||
30.9.2013 | 30.6.2013 | 30.9.2013 | 30.6.2013 | ||
S$'000 | S$'000 | S$'000 | S$'000 | ||
ASSETS Current assets Cash and cash equivalents Trade and other receivables Inventories Other current assets Non-current assets Available-for-sale financial assets Investments in subsidiaries Property, plant and equipment Total assets LIABILITIES Current liabilities Trade and other payables Current income tax liabilities Non-current liabilities Deferred income tax liabilities Total liabilities NET ASSETS EQUITY Capital and reserves attributable to equity holders of the Company Share capital Other reserves Retained profits Non-controlling interests TOTAL EQUITY | 66,899 10,503 5,297 36,005 | 66,449 11,055 5,253 36,090 | 44,177 66,808 -- 94 | 50,112 60,804 -- 42 | |
ASSETS Current assets Cash and cash equivalents Trade and other receivables Inventories Other current assets Non-current assets Available-for-sale financial assets Investments in subsidiaries Property, plant and equipment Total assets LIABILITIES Current liabilities Trade and other payables Current income tax liabilities Non-current liabilities Deferred income tax liabilities Total liabilities NET ASSETS EQUITY Capital and reserves attributable to equity holders of the Company Share capital Other reserves Retained profits Non-controlling interests TOTAL EQUITY | 118,704 | 118,847 | 111,079 | 110,958 | |
ASSETS Current assets Cash and cash equivalents Trade and other receivables Inventories Other current assets Non-current assets Available-for-sale financial assets Investments in subsidiaries Property, plant and equipment Total assets LIABILITIES Current liabilities Trade and other payables Current income tax liabilities Non-current liabilities Deferred income tax liabilities Total liabilities NET ASSETS EQUITY Capital and reserves attributable to equity holders of the Company Share capital Other reserves Retained profits Non-controlling interests TOTAL EQUITY | 4,439 -- 22,650 | 5,346 -- 24,065 | -- 896 5 | -- 896 3 | |
ASSETS Current assets Cash and cash equivalents Trade and other receivables Inventories Other current assets Non-current assets Available-for-sale financial assets Investments in subsidiaries Property, plant and equipment Total assets LIABILITIES Current liabilities Trade and other payables Current income tax liabilities Non-current liabilities Deferred income tax liabilities Total liabilities NET ASSETS EQUITY Capital and reserves attributable to equity holders of the Company Share capital Other reserves Retained profits Non-controlling interests TOTAL EQUITY | 27,089 | 29,411 | 901 | 899 | |
ASSETS Current assets Cash and cash equivalents Trade and other receivables Inventories Other current assets Non-current assets Available-for-sale financial assets Investments in subsidiaries Property, plant and equipment Total assets LIABILITIES Current liabilities Trade and other payables Current income tax liabilities Non-current liabilities Deferred income tax liabilities Total liabilities NET ASSETS EQUITY Capital and reserves attributable to equity holders of the Company Share capital Other reserves Retained profits Non-controlling interests TOTAL EQUITY | 145,793 | 148,258 | 111,980 | 111,857 | |
ASSETS Current assets Cash and cash equivalents Trade and other receivables Inventories Other current assets Non-current assets Available-for-sale financial assets Investments in subsidiaries Property, plant and equipment Total assets LIABILITIES Current liabilities Trade and other payables Current income tax liabilities Non-current liabilities Deferred income tax liabilities Total liabilities NET ASSETS EQUITY Capital and reserves attributable to equity holders of the Company Share capital Other reserves Retained profits Non-controlling interests TOTAL EQUITY | 21,313 158 | 21,885 122 | 675 105 | 560 105 | |
ASSETS Current assets Cash and cash equivalents Trade and other receivables Inventories Other current assets Non-current assets Available-for-sale financial assets Investments in subsidiaries Property, plant and equipment Total assets LIABILITIES Current liabilities Trade and other payables Current income tax liabilities Non-current liabilities Deferred income tax liabilities Total liabilities NET ASSETS EQUITY Capital and reserves attributable to equity holders of the Company Share capital Other reserves Retained profits Non-controlling interests TOTAL EQUITY | 21,471 | 22,007 | 780 | 665 | |
ASSETS Current assets Cash and cash equivalents Trade and other receivables Inventories Other current assets Non-current assets Available-for-sale financial assets Investments in subsidiaries Property, plant and equipment Total assets LIABILITIES Current liabilities Trade and other payables Current income tax liabilities Non-current liabilities Deferred income tax liabilities Total liabilities NET ASSETS EQUITY Capital and reserves attributable to equity holders of the Company Share capital Other reserves Retained profits Non-controlling interests TOTAL EQUITY | 3,216 | 3,553 | 380 | 398 | |
ASSETS Current assets Cash and cash equivalents Trade and other receivables Inventories Other current assets Non-current assets Available-for-sale financial assets Investments in subsidiaries Property, plant and equipment Total assets LIABILITIES Current liabilities Trade and other payables Current income tax liabilities Non-current liabilities Deferred income tax liabilities Total liabilities NET ASSETS EQUITY Capital and reserves attributable to equity holders of the Company Share capital Other reserves Retained profits Non-controlling interests TOTAL EQUITY | 24,687 | 25,560 | 1,160 | 1,063 | |
ASSETS Current assets Cash and cash equivalents Trade and other receivables Inventories Other current assets Non-current assets Available-for-sale financial assets Investments in subsidiaries Property, plant and equipment Total assets LIABILITIES Current liabilities Trade and other payables Current income tax liabilities Non-current liabilities Deferred income tax liabilities Total liabilities NET ASSETS EQUITY Capital and reserves attributable to equity holders of the Company Share capital Other reserves Retained profits Non-controlling interests TOTAL EQUITY | 121,106 | 122,698 | 110,820 | 110,794 | |
ASSETS Current assets Cash and cash equivalents Trade and other receivables Inventories Other current assets Non-current assets Available-for-sale financial assets Investments in subsidiaries Property, plant and equipment Total assets LIABILITIES Current liabilities Trade and other payables Current income tax liabilities Non-current liabilities Deferred income tax liabilities Total liabilities NET ASSETS EQUITY Capital and reserves attributable to equity holders of the Company Share capital Other reserves Retained profits Non-controlling interests TOTAL EQUITY | |||||
ASSETS Current assets Cash and cash equivalents Trade and other receivables Inventories Other current assets Non-current assets Available-for-sale financial assets Investments in subsidiaries Property, plant and equipment Total assets LIABILITIES Current liabilities Trade and other payables Current income tax liabilities Non-current liabilities Deferred income tax liabilities Total liabilities NET ASSETS EQUITY Capital and reserves attributable to equity holders of the Company Share capital Other reserves Retained profits Non-controlling interests TOTAL EQUITY | 47,494 11,151 61,751 | 47,494 13,636 60,857 | 47,494 13,543 49,783 | 47,494 13,543 49,757 | |
ASSETS Current assets Cash and cash equivalents Trade and other receivables Inventories Other current assets Non-current assets Available-for-sale financial assets Investments in subsidiaries Property, plant and equipment Total assets LIABILITIES Current liabilities Trade and other payables Current income tax liabilities Non-current liabilities Deferred income tax liabilities Total liabilities NET ASSETS EQUITY Capital and reserves attributable to equity holders of the Company Share capital Other reserves Retained profits Non-controlling interests TOTAL EQUITY | 120,396 710 | 121,987 711 | 110,820 -- | 110,794 -- | |
ASSETS Current assets Cash and cash equivalents Trade and other receivables Inventories Other current assets Non-current assets Available-for-sale financial assets Investments in subsidiaries Property, plant and equipment Total assets LIABILITIES Current liabilities Trade and other payables Current income tax liabilities Non-current liabilities Deferred income tax liabilities Total liabilities NET ASSETS EQUITY Capital and reserves attributable to equity holders of the Company Share capital Other reserves Retained profits Non-controlling interests TOTAL EQUITY | 121,106 | 122,698 | 110,820 | 110,794 |
LAP (1Q 30.9.13) Page 3 of 11
1b)(ii) Aggregate amount of group's borrowings and debt securities
Amount repayable in one year or less, or on demand
The Group | |||
30.9.2013 | 30.6.2013 | ||
Secured | Unsecured | Secured | Unsecured |
S$'000 | S$'000 | S$'000 | S$'000 |
-- | -- | -- | -- |
Amount repayable after one year
The Group | |||
30.9.2013 | 30.6.2013 | ||
Secured | Unsecured | Secured | Unsecured |
S$'000 | S$'000 | S$'000 | S$'000 |
-- | -- | -- | -- |
Details of any collateral
The Group | ||
30.9.2013 | 30.6.2013 | |
S$'000 | S$'000 | |
Borrowings Amount repayable in one year or less, or on demand Finance lease liabilities Amount repayable after one year Finance lease liabilities | -- | -- |
Borrowings Amount repayable in one year or less, or on demand Finance lease liabilities Amount repayable after one year Finance lease liabilities | ||
Borrowings Amount repayable in one year or less, or on demand Finance lease liabilities Amount repayable after one year Finance lease liabilities | -- | -- |
As at 30 September 2013, the Group's finance lease liabilities of S$ Nil (30 June 2013: S$ Nil) are secured by the rights to the leased buildings, which will revert to the lessor in the event of default by the Group.
LAP (1Q 30.9.13) Page 4 of 11
1(c) A cash flow statement (for the group), together with a comparative statement for the corresponding period of the immediately preceding financial year
Consolidated Statement of Cash FlowsThe Group | ||
1.7.2013 - 30.9.2013 | 1.7.2012 - 30.9.2012 | |
S$'000 | S$'000 | |
Cash flows from operating activities Total profit Adjustments for - Income tax (credit)/expense - Depreciation of property, plant and equipment - Interest expenses - Interest income - Unrealised currency translation gains Change in working capital - Trade and other receivables - Inventories - Other current assets - Trade and other payables Cash generated from/(used in) operations Income tax paid Net cash provided by/(used in) operating activities Cash flows from investing activities Purchases of property, plant and equipment Interest received Net cash provided by investing activities Cash flows from financing activities Interest paid Net cash used in financing activities Net increase/(decrease) in cash and cash equivalents Cash and cash equivalents at beginning of financial period Effects of currency translation on cash and cash equivalents Cash and cash equivalents at end of financial period | 893 (108) 588 -- (146) (1,095) | 790 44 610 1 (382) (127) |
Cash flows from operating activities Total profit Adjustments for - Income tax (credit)/expense - Depreciation of property, plant and equipment - Interest expenses - Interest income - Unrealised currency translation gains Change in working capital - Trade and other receivables - Inventories - Other current assets - Trade and other payables Cash generated from/(used in) operations Income tax paid Net cash provided by/(used in) operating activities Cash flows from investing activities Purchases of property, plant and equipment Interest received Net cash provided by investing activities Cash flows from financing activities Interest paid Net cash used in financing activities Net increase/(decrease) in cash and cash equivalents Cash and cash equivalents at beginning of financial period Effects of currency translation on cash and cash equivalents Cash and cash equivalents at end of financial period | 132 306 162 (10) 93 | 936 (2,260) (442) 40 (1,685) |
Cash flows from operating activities Total profit Adjustments for - Income tax (credit)/expense - Depreciation of property, plant and equipment - Interest expenses - Interest income - Unrealised currency translation gains Change in working capital - Trade and other receivables - Inventories - Other current assets - Trade and other payables Cash generated from/(used in) operations Income tax paid Net cash provided by/(used in) operating activities Cash flows from investing activities Purchases of property, plant and equipment Interest received Net cash provided by investing activities Cash flows from financing activities Interest paid Net cash used in financing activities Net increase/(decrease) in cash and cash equivalents Cash and cash equivalents at beginning of financial period Effects of currency translation on cash and cash equivalents Cash and cash equivalents at end of financial period | 683 (13) | (3,411) -- |
Cash flows from operating activities Total profit Adjustments for - Income tax (credit)/expense - Depreciation of property, plant and equipment - Interest expenses - Interest income - Unrealised currency translation gains Change in working capital - Trade and other receivables - Inventories - Other current assets - Trade and other payables Cash generated from/(used in) operations Income tax paid Net cash provided by/(used in) operating activities Cash flows from investing activities Purchases of property, plant and equipment Interest received Net cash provided by investing activities Cash flows from financing activities Interest paid Net cash used in financing activities Net increase/(decrease) in cash and cash equivalents Cash and cash equivalents at beginning of financial period Effects of currency translation on cash and cash equivalents Cash and cash equivalents at end of financial period | 670 | (3,411) |
Cash flows from operating activities Total profit Adjustments for - Income tax (credit)/expense - Depreciation of property, plant and equipment - Interest expenses - Interest income - Unrealised currency translation gains Change in working capital - Trade and other receivables - Inventories - Other current assets - Trade and other payables Cash generated from/(used in) operations Income tax paid Net cash provided by/(used in) operating activities Cash flows from investing activities Purchases of property, plant and equipment Interest received Net cash provided by investing activities Cash flows from financing activities Interest paid Net cash used in financing activities Net increase/(decrease) in cash and cash equivalents Cash and cash equivalents at beginning of financial period Effects of currency translation on cash and cash equivalents Cash and cash equivalents at end of financial period | (44) 83 | (2) 207 |
Cash flows from operating activities Total profit Adjustments for - Income tax (credit)/expense - Depreciation of property, plant and equipment - Interest expenses - Interest income - Unrealised currency translation gains Change in working capital - Trade and other receivables - Inventories - Other current assets - Trade and other payables Cash generated from/(used in) operations Income tax paid Net cash provided by/(used in) operating activities Cash flows from investing activities Purchases of property, plant and equipment Interest received Net cash provided by investing activities Cash flows from financing activities Interest paid Net cash used in financing activities Net increase/(decrease) in cash and cash equivalents Cash and cash equivalents at beginning of financial period Effects of currency translation on cash and cash equivalents Cash and cash equivalents at end of financial period | 39 | 205 |
Cash flows from operating activities Total profit Adjustments for - Income tax (credit)/expense - Depreciation of property, plant and equipment - Interest expenses - Interest income - Unrealised currency translation gains Change in working capital - Trade and other receivables - Inventories - Other current assets - Trade and other payables Cash generated from/(used in) operations Income tax paid Net cash provided by/(used in) operating activities Cash flows from investing activities Purchases of property, plant and equipment Interest received Net cash provided by investing activities Cash flows from financing activities Interest paid Net cash used in financing activities Net increase/(decrease) in cash and cash equivalents Cash and cash equivalents at beginning of financial period Effects of currency translation on cash and cash equivalents Cash and cash equivalents at end of financial period | -- | (1) |
Cash flows from operating activities Total profit Adjustments for - Income tax (credit)/expense - Depreciation of property, plant and equipment - Interest expenses - Interest income - Unrealised currency translation gains Change in working capital - Trade and other receivables - Inventories - Other current assets - Trade and other payables Cash generated from/(used in) operations Income tax paid Net cash provided by/(used in) operating activities Cash flows from investing activities Purchases of property, plant and equipment Interest received Net cash provided by investing activities Cash flows from financing activities Interest paid Net cash used in financing activities Net increase/(decrease) in cash and cash equivalents Cash and cash equivalents at beginning of financial period Effects of currency translation on cash and cash equivalents Cash and cash equivalents at end of financial period | -- | (1) |
Cash flows from operating activities Total profit Adjustments for - Income tax (credit)/expense - Depreciation of property, plant and equipment - Interest expenses - Interest income - Unrealised currency translation gains Change in working capital - Trade and other receivables - Inventories - Other current assets - Trade and other payables Cash generated from/(used in) operations Income tax paid Net cash provided by/(used in) operating activities Cash flows from investing activities Purchases of property, plant and equipment Interest received Net cash provided by investing activities Cash flows from financing activities Interest paid Net cash used in financing activities Net increase/(decrease) in cash and cash equivalents Cash and cash equivalents at beginning of financial period Effects of currency translation on cash and cash equivalents Cash and cash equivalents at end of financial period | 709 66,449 (259) | (3,207) 82,473 (667) |
Cash flows from operating activities Total profit Adjustments for - Income tax (credit)/expense - Depreciation of property, plant and equipment - Interest expenses - Interest income - Unrealised currency translation gains Change in working capital - Trade and other receivables - Inventories - Other current assets - Trade and other payables Cash generated from/(used in) operations Income tax paid Net cash provided by/(used in) operating activities Cash flows from investing activities Purchases of property, plant and equipment Interest received Net cash provided by investing activities Cash flows from financing activities Interest paid Net cash used in financing activities Net increase/(decrease) in cash and cash equivalents Cash and cash equivalents at beginning of financial period Effects of currency translation on cash and cash equivalents Cash and cash equivalents at end of financial period | 66,899 | 78,599 |
For the purposes of the consolidated statement of cash flows, consolidated cash and cash equivalents comprise the following:
The Group | ||
30.9.2013 | 30.9.2012 | |
S$'000 | S$'000 | |
Cash at bank and on hand Short-term bank deposits | 13,726 53,173 | 3,069 75,530 |
Cash at bank and on hand Short-term bank deposits | 66,899 | 78,599 |
LAP (1Q 30.9.13) Page 5 of 11
1(d)(i) A statement (for the issuer and group) showing either (i) all changes in equity or (ii) changes in equity other than those arising from capitalisation issues and distributions to shareholders, together with a comparative statement for the corresponding period of the immediately preceding financial year
Consolidated Statement of Changes in Equity - The GroupAttributable to equity holders of the Company | |||||||||||
Share capital | Capital redemption reserve | Fair value reserve | Currency translation reserve | Capital reduction reserve | Capital reserve | Consolidation reserve | Retained profits | Total | Non- controlling Interests | Total Equity | |
S$'000 | S$'000 | S$'000 | S$'000 | S$'000 | S$'000 | S$'000 | S$'000 | S$'000 | S$'000 | S$'000 | |
Balance at 1.7.2013 Total comprehensive (loss)/income for the Period Balance at 30.9.2013 Balance at 1.7.2012 Total comprehensive (loss)/income for the period Balance at 30.9.2012 | 47,494 -- | 105 -- | 1,762 (877) | (3,886) (1,608) | 13,543 -- | 2,112 -- | -- -- | 60,857 894 | 121,987 (1,591) | 711 (1) | 122,698 (1,592) |
Balance at 1.7.2013 Total comprehensive (loss)/income for the Period Balance at 30.9.2013 Balance at 1.7.2012 Total comprehensive (loss)/income for the period Balance at 30.9.2012 | 47,494 | 105 | 885 | (5,494) | 13,543 | 2,112 | -- | 61,751 | 120,396 | 710 | 121,106 |
Balance at 1.7.2013 Total comprehensive (loss)/income for the Period Balance at 30.9.2013 Balance at 1.7.2012 Total comprehensive (loss)/income for the period Balance at 30.9.2012 | |||||||||||
Balance at 1.7.2013 Total comprehensive (loss)/income for the Period Balance at 30.9.2013 Balance at 1.7.2012 Total comprehensive (loss)/income for the period Balance at 30.9.2012 | 47,494 -- | 105 -- | -- (920) | (4,176) (794) | 13,543 -- | 2,112 -- | (36) -- | 61,161 781 | 120,203 (933) | 692 9 | 120,895 (924) |
Balance at 1.7.2013 Total comprehensive (loss)/income for the Period Balance at 30.9.2013 Balance at 1.7.2012 Total comprehensive (loss)/income for the period Balance at 30.9.2012 | 47,494 | 105 | (920) | (4,970) | 13,543 | 2,112 | (36) | 61,942 | 119,270 | 701 | 119,971 |
Share capital | Capital reduction reserve | Retained profits | Total | |
S$'000 | S$'000 | S$'000 | S$'000 | |
Balance at 1.7.2013 Total comprehensive profit for the period Balance at 30.9.2013 Balance at 1.7.2012 Total comprehensive profit for the period Balance at 30.9.2012 | 47,494 -- | 13,543 -- | 49,757 26 | 110,794 26 |
Balance at 1.7.2013 Total comprehensive profit for the period Balance at 30.9.2013 Balance at 1.7.2012 Total comprehensive profit for the period Balance at 30.9.2012 | 47,494 | 13,543 | 49,783 | 110,820 |
Balance at 1.7.2013 Total comprehensive profit for the period Balance at 30.9.2013 Balance at 1.7.2012 Total comprehensive profit for the period Balance at 30.9.2012 | ||||
Balance at 1.7.2013 Total comprehensive profit for the period Balance at 30.9.2013 Balance at 1.7.2012 Total comprehensive profit for the period Balance at 30.9.2012 | 47,494 -- | 13,543 -- | 40,348 7,603 | 101,385 7,603 |
Balance at 1.7.2013 Total comprehensive profit for the period Balance at 30.9.2013 Balance at 1.7.2012 Total comprehensive profit for the period Balance at 30.9.2012 | 47,494 | 13,543 | 47,951 | 108,988 |
LAP (1Q 30.9.13) Page 6 of 11
1(d)(ii) Details of any changes in the company's share capital arising from rights issue, bonus issue, share buy-backs, exercise of share options or warrants, conversion of other issues of equity securities, issue of shares for cash or as consideration for acquisition or for any other purpose since the end of the previous period reported on. State also the number of shares that may be issued on conversion of all the outstanding convertibles, as well as the number of shares held as treasury shares, if any, against the total number of issued shares excluding treasury shares of the issuer, as at the end of the current financial period reported on and as at the end of the corresponding period of the immediately preceding financial year
30.9.2013 | 30.9.2012 | |
No. of Shares | No. of Shares | |
Issued Share Capital (Note A) | 405,522,724 | 405,522,724 |
Treasury Shares held | -- | -- |
Shares to be issued pursuant to the exercise of all the outstanding share options (Note B) | -- | 313,500 |
No. of Issued Shares | |
Balance at 1/7/2013 | 405,522,724 |
Movement in share capital | -- |
Balance at 30/9/2013 | 405,522,724 |
Movement in the number of unissued ordinary shares under LAP Share Option Scheme and their exercise prices are set out as follows:
No. of unissued ordinary shares under option | ||||||
As at 1.7.2013 | Exercised during financial period | Lapsed/forfeited during financial period | As at 30.9.2013 | Exercise price | Exercise period | |
2007 Options | -- | -- | -- | -- | $0.24 | 30.11.2008 - 29.11.2012 |
As at 1.7.2012 | Exercised during financial period | Lapsed/forfeited during financial period | As at 30.9.2012 | Exercise price | Exercise period | |
2007 Options | 313,500 | - | - | 313,500 | $0.24 | 30.11.2008 - 29.11.2012 |
1(d)(iii) To show the total number of issued shares excluding treasury shares as at the end of the current financial period and as at the end of the immediately preceding year.
30.9.2013 | 30.6.2013 | |
Total number of issued shares excluding treasury shares | 405,522,724 | 405,522,724 |
1(d)(iv) A statement showing all sales, transfers, disposal, cancellation and/or use of treasury shares as at the end of the current financial period reported on.
Not applicable.
LAP (1Q 30.9.13) Page 7 of 11
2. Whether the figures have been audited or reviewed, and in accordance with which auditing standard or practice
The figures have not been audited nor reviewed.
3. Where the figures have been audited or reviewed, the auditors' report (including any qualifications or emphasis of matter)
Not applicable
4. Whether the same accounting policies and methods of computation as in the issuer's most recently audited annual financial statements have been applied
Except as disclosed in Note 5 below, the Group has adopted the same accounting policies and methods of computation in the financial statements for the current financial period as those applied for the most recent audited financial statements for the year ended 30 June 2013.
5. If there are any changes in the accounting policies and methods of computation, including any required by an accounting standard, what has changed, as well as the reasons for, and the effect of, the change.
The Group adopted all applicable new and revised FRS that becomes effective during the new financial year and has no significant impact to the Group.
LAP (1Q 30.9.13) Page 8 of 11
6. Earnings per ordinary share of the group for the current period reported on and the corresponding period of the immediately preceding financial year, after deducting any provision for preference dividends
Earnings per Ordinary Share of the Group for the financial period based on net profit attributable to shareholders:-
The Group | |||
30.9.2013 | 30.9.2012 | ||
(i) | Based on weighted average number of shares (cents) - Weighted average number of shares ('000 shares) | 0.22 405,523 | 0.19 405,523 |
(ii) | On a fully diluted basis (cents) - Weighted average number of shares ('000 shares) | 0.22 405,523 | 0.19 405,523 |
Earnings per ordinary share is computed based on the weighted average number of issued shares of
405,522,724 (30.9.2012: 405,522,724).
On a fully diluted basis, the exercise of the outstanding share options for financial years ended 30
September 2013 and 30 September 2012 have not been taken into account as they are anti-dilutive in nature. All the outstanding share options have lapsed on 29 November 2012.
7. Net asset value (for the issuer and group) per ordinary share based on the total number of issued shares excluding treasury shares of the issuer at the end of the (a) current period reported on and (b) immediately preceding financial year
Net Asset Value per ordinary shareThe Group | The Company | |||
30.9.2013 | 30.6.2013 | 30.9.2013 | 30.6.2013 | |
cents | cents | cents | cents | |
Net asset value per ordinary share based on total number of issued shares excluding treasury shares | 29.69 | 30.08 | 27.33 | 27.32 |
LAP (1Q 30.9.13) Page 9 of 11
8. A review of the performance of the group, to the extent necessary for a reasonable understanding of the group's business. It must include a discussion of the following:-
(a) any significant factors that affected the turnover, costs, and earnings of the group for the current financial period reported on, including (where applicable) seasonal or cyclical factors; and
(b) any material factors that affected the cash flow, working capital, assets or liabilities of the group during the current financial period reported on.
For the first quarter ended 30 September 2013, the Group posted a 37% decrease in turnover to S$5.4 million, from S$8.6 million in the last corresponding quarter, despite an 11% growth in revenue from the quicklime business from S$4.9 million to S$5.4 million, as the scrap metal trading business did not conduct any trade during this quarter.
Accordingly, the Group's earnings from business operations reduced by 35% from S$0.59 million to S$0.38 million, where the latter comprised solely quicklime earnings. Due to lower margins resulting from higher raw material and processing cost, as well as foreign exchange loss as Malaysian Ringgit weakened, quicklime earnings declined by 23% from S$0.50 million to S$0.38 million.
During this quarter, net earnings of the Group increased by 14% from S$0.78 million to S$0.89 million, due to a 36% reduction in total expenses to S$5.4 million, which arose mainly from purchases of inventories decreasing by half to S$3.4 million. Other operating expenses increased by 22% to S$0.9 million, as overheads increased, although net currency translation losses decreased from S$0.21 million to S$0.04 million. An amount of S$0.11 million was written back for over-provision for tax during this quarter, whereas tax expense of S$0.04 million was incurred in the last corresponding quarter.
The financial position of the Group remained healthy, as working capital of S$79.7 million was recorded as at 30 September 2013, slightly more than the S$79.3 million as at 30 June 2013. Other than operating activities, there were no significant movements in the cash flows of the Group during this quarter, and cash balance stood at S$66.9 million as at 30 September 2013.
Trade and other receivables of the Group went down to S$10.5 million as at 30 September 2013, from S$11.1 million as at 30 June 2013, while inventories remained at S$5.3 million. Trade and other payables reduced from S$21.9 million to S$21.3 million, arising from payments made to suppliers. As at
30 June 2013, the Group's available-for-sale financial assets decreased from S$5.3 million to S$4.4 million, given the decreases in the fair values of the Group's investments.
9. Where a forecast, or a prospect statement, has been previously disclosed to shareholders, any variance between it and the actual results
Not applicable.
10. A commentary at the date of the announcement of the significant trends and competitive conditions of the industry in which the group operates and any known factors or events that may affect the group in the next reporting period and the next 12 months.
While the global economic outlook remains uncertain, increasing competition and cost pressure will persist in the markets where the Group operates, particularly the steel industry. In such challenging business environment, the Group will continue to be vigilant in treading these grounds.
Given the resolution of issues with the Yangzhou authorities recently relating to the land acquired in
Yangzhou, the Company intends to commence development works as soon as possible.
LAP (1Q 30.9.13) Page 10 of 11
11. Dividend
(a) Current Financial Period Reported On
None.
(b) Corresponding Period of the Immediately Preceding Financial Year
None.
(c) Date payable
Not applicable.
(d) Books closure date
Not applicable.
12. If no dividend has been declared/recommended, a statement to that effect
No interim dividend has been declared for the quarter ended 30 September 2013.
13. Interested Person Transactions ("IPTs")
For the financial period ended 30.9.2013 | ||
Name of Interested Person | Aggregate value of all IPTs during the financial period under review (excluding transactions less than S$100,000 and transactions conducted under IPT Mandate pursuant to Rule 920) | Aggregate value of all IPTs conducted under IPT Mandate pursuant to Rule 920 (excluding transactions less than S$100,000) |
Name of Interested Person | S$'000 | S$'000 |
Amsteel Mills Sdn Bhd | -- | 1,200 |
Antara Steel Mills Sdn Bhd | -- | 124 |
Megasteel Sdn Bhd | -- | 894 |
14. Confirmation by Directors
The Directors confirm that, to the best of their knowledge, nothing has come to the attention of the Board of Directors which may render the interim financial results of Lion Asiapac Limited for the first quarter ended 30 September 2013, to be false or misleading in any material aspects.
BY ORDER OF THE BOARD LION ASIAPAC LIMITED
Tan Yen Hui
Company Secretary
Singapore, 24 October 2013
LAP (1Q 30.9.13) Page 11 of 11
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