GYP PROPERTIES LIMITED
(Co. Reg. No. 200304719G)
AND ITS SUBSIDIARIES
Unaudited condensed interim financial statements For the six months and full year ended 30 June 2021
- Condensed interim consolidated statement of profit or loss and other comprehensive income
6 months | 6 months | 12 months | 12 months | ||||||
ended | ended | ended | ended | ||||||
30 June 2021 | 30 June 2020 | 30 June 2021 | 30 June 2020 | ||||||
("2HFY2021") | ("2HFY2020") Change ("12MFY2021") | ("12MFY2020") Change | |||||||
S$'000 | S$'000 | % | S$'000 | S$'000 | % | ||||
Revenue | 4,531 | 4,110 | 10.2 | 46,927 | 8,645 | N.M. | |||
Other income | 1,687 | 1,511 | 11.6 | 3,321 | 2,792 | 18.9 | |||
Other gains | (614) | 11 | N.M. | 1,887 | 77 | N.M. | |||
Other losses | |||||||||
- | Net impairment of trade | (22) | (807) | (97.3) | (144) | (807) | (82.2) | ||
and other receivables | |||||||||
- | Others | (2,726) | (8,492) | (67.9) | (2,726) | (8,549) | (68.1) | ||
Development costs | (156) | - | 100 | (36,111) | - | 100 | |||
Professional fees | (342) | (458) | (25.3) | (785) | (853) | (8.0) | |||
Property related and maintenance | (1,626) | (1,399) | 16.2 | (3,180) | (2,852) | 11.5 | |||
expenses | |||||||||
Marketing, advertising and | (205) | (150) | 36.7 | (1,282) | (293) | N.M. | |||
promotion expenses | |||||||||
Staff costs | (1,295) | (1,084) | 19.5 | (2,510) | (2,233) | 12.4 | |||
Depreciation | (418) | (420) | (0.5) | (836) | (848) | (1.4) | |||
Finance expenses | (918) | (883) | 4.0 | (1,817) | (1,767) | 2.8 | |||
Other expenses | (282) | (311) | (9.3) | (647) | (804) | (19.5) | |||
Total expenses | (5,242) | (4,705) | 11.4 | (47,168) | (9,650) | N.M. | |||
(Loss)/profit before income tax | (2,386) | (8,372) | (71.5) | 2,097 | (7,492) | N.M. | |||
Income tax credit/(expenses) | 274 | 392 | (30.1) | (139) | 354 | N.M. | |||
(Loss)/profit | (2,112) | (7,980) | (73.5) | 1,958 | (7,138) | N.M. | |||
Other comprehensive income: | |||||||||
Items that may be reclassified | |||||||||
subsequently to profit or loss: | |||||||||
Currency translation differences | |||||||||
arising from consolidation | |||||||||
- | Net (losses)/gains | (546) | (543) | 0.6 | 1,735 | (567) | N.M. | ||
Cash flow hedges | |||||||||
- | Net fair value | (18) | (865) | (97.9) | (27) | (909) | (97.0) | ||
(losses)/gains | |||||||||
- | Reclassification | 291 | 143 | N.M. | 577 | 143 | N.M. | ||
Other comprehensive | (273) | (1,265) | (78.4) | 2,285 | (1,333) | N.M. | |||
(loss)/income, net of tax | |||||||||
Total comprehensive | (2,385) | (9,245) | (74.2) | 4,243 | (8,471) | N.M. | |||
(loss)/income |
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- Condensed interim consolidated statement of profit or loss and other comprehensive income (continued)
2HFY2021 | 2HFY2020 | Change | 12MFY2021 | 12MFY2020 | Change | ||||
S$'000 | S$'000 | % | S$'000 | S$'000 | % | ||||
(Loss)/profit attributable to: | |||||||||
- Equity holders of the | (2,112) | (8,047) | (73.8) | 1,959 | (7,155) | N.M. | |||
Company | |||||||||
- | Non-controlling interests | - | 67 | (100) | (1) | 17 | N.M. | ||
(2,112) | (7,980) | (73.5) | 1,958 | (7,138) | N.M. | ||||
Total comprehensive (loss)/income attributable to | |||||||||
- Equity holders of the | (2,385) | (9,312) | (74.4) | 4,244 | (8,488) | N.M. | |||
Company | |||||||||
- | Non-controlling interests | - | 67 | (100) | (1) | 17 | N.M | ||
(2,385) | (9,245) | (74.2) | 4,243 | (8,471) | N.M |
N.M. - Not meaningful
Profit before taxation is arrived at after accounting for:
2HFY2021 | 2HFY2020 | Change | 12MFY2021 | 12MFY2020 | Change | |
S$'000 | S$'000 | % | S$'000 | S$'000 | % | |
Finance income | 156 | 124 | 25.8 | 374 | 241 | 55.2 |
Finance expenses | (918) | (883) | 4.0 | (1,817) | (1,767) | 2.8 |
Net impairment of trade and | ||||||
other receivables | (22) | (807) | (97.3) | (144) | (807) | (82.2) |
Bad debts recovered | - | 38 | (100) | - | 52 | (100) |
Net foreign exchange | ||||||
(losses)/gains | (637) | (415) | 53.5 | 1,864 | (472) | N.M. |
Net over/(under) provision | ||||||
of prior years' taxation | - | 293 | (100) | (2) | 293 | N.M. |
Fair value losses on | ||||||
investment properties | (2,726) | (7,342) | (62.9) | (2,726) | (7,342) | (62.9) |
Impairment of other non- | ||||||
current assets | - | (735) | (100) | - | (735) | (100) |
Net gain on disposal of | ||||||
intellectual property rights | - | 65 | (100) | - | 65 | (100) |
Bargain purchase gain on | ||||||
acquisition of a subsidiary | 23 | - | 100 | 23 | - | 100 |
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B. Condensed interim statements of financial position
Note
ASSETS
Current assets
Group | Company | |||
30 June 2021 | 30 June 2020 | 30 June 2021 | 30 June 2020 | |
S$'000 | S$'000 | S$'000 | S$'000 |
Cash and cash equivalents
Term deposits
Restricted cash
Trade and other receivables
Development properties
Other current assets
Income tax recoverables
Non-current assets
Restricted cash
Other receivables
Other non-current assets
Investments in subsidiaries
Property, plant and equipment
Investment properties | 11 |
Deferred income tax assets | |
Financial assets, at FVOCI | 8 |
Intangible assets | 9 |
Due from subsidiaries | |
Total assets | |
LIABILITIES | |
Current liabilities |
3,842 | 7,824 |
4,701 | - |
436 | - |
2,368 | 3,140 |
76,769 | 98,847 |
838 | 1,232 |
44 | - |
88,998 | 111,043 |
- | 406 |
3,627 | 5,427 |
475 | 267 |
- | - |
5,931 | 6,688 |
81,413 | 80,138 |
188 | 444 |
- | - |
- | - |
- | - |
91,634 | 93,370 |
180,632 | 204,413 |
628 | 5,337 |
- | - |
- | - |
1,937 | 2,096 |
- | - |
87 | 80 |
- | - |
2,652 | 7,513 |
- | - |
3,627 | 5,427 |
- | - |
2,894 | 2,894 |
5,859 | 6,639 |
- | - |
- | - |
- | - |
- | - |
83,517 | 81,259 |
95,897 | 96,219 |
98,549 | 103,732 |
Trade and other payables | |
Contract liabilities | |
Advance receipts and billings | |
Borrowings | |
Current income tax liabilities | |
Derivative financial instruments | |
Non-current liabilities | |
Trade and other payables | |
Borrowings | |
Derivative financial instruments | |
Deferred income tax liabilities | |
Due to subsidiaries | |
Total liabilities | |
NET ASSETS | |
SHAREHOLDERS' EQUITY | |
Share capital | 12 |
Treasury shares | 12 |
Other reserves |
Accumulated losses
Capital and reserves attributable to equity holders of the Company
Non-controlling interests
Total equity
2,737 | 5,265 |
2,700 | 2,552 |
371 | 349 |
91,823 | 44,707 |
11 | 6 |
353 | - |
97,995 | 52,879 |
309 | 622 |
10,256 | 82,078 |
- | 1,063 |
440 | 382 |
- | - |
11,005 | 84,145 |
109,000 | 137,024 |
71,632 | 67,389 |
92,702 | 92,702 |
- (960)
(7,944) (14,049)
(12,166) (10,308)
71,632 | 67,385 |
- | 4 |
71,632 | 67,389 |
1,246 | 1,341 |
- | - |
90 | 102 |
3,433 | 7,433 |
- | - |
- | - |
4,769 | 8,876 |
73 | 243 |
10,256 | 13,581 |
- | - |
201142
11,683 10,652
22,213 24,618
26,982 33,494
71,567 70,238
92,702 92,702
-
(960)
(4,678) (4,621)
(15,497) (16,883)
71,567 | 70,238 |
- | - |
71,567 | 70,238 |
3
- Condensed interim statements of financial position (continued)
Aggregate amount of group's borrowings and debt securities
Amount repayable in one year or less (S$'000)
As at 30 June 2021 | As at 30 June 2020 | |||
Secured | Unsecured | Secured | Unsecured | |
90,382 | 1,441 | 39,254 | 5,453 |
Amount repayable after one year (S$'000)
As at 30 June 2021 | As at 30 June 2020 | |||
Secured | Unsecured | Secured | Unsecured | |
6,556 | 3,700 | 77,286 | 4,792 |
As at 30 June 2021, borrowings amounting to S$102.1 million comprised loans of S$13.7 million taken by the Company and loans of S$88.4 million taken by foreign subsidiaries.
Loans of S$8.8 million taken by the Company are secured over the Company's leasehold property with fixed repayment schedules.
Loans of S$88.2 million undertaken by the foreign subsidiaries are secured over the subsidiaries' freehold properties.
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Disclaimer
GYP Properties Ltd. published this content on 27 August 2021 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 30 August 2021 09:51:09 UTC.