(Co. Regn. No: 200100544H)
FINANCIAL STATEMENT AND DIVIDEND ANNOUNCEMENT FOR THE THIRD QUARTER ENDED 30 SEPTEMBER 2015
1(a) An income statement and statement of comprehensive income for the group together with a comparative statement for the corresponding period of the immediately preceding financial year.
1(a)(i) Unaudited Income Statement for the third quarter ended 30 September 2015.
Group | Third Quarter | Year-To-Date | ||||
Q3 2015 | Q3 2014 | Increase/ (Decrease) | 30/9/2015 | 30/9/2014 | Increase/ (Decrease) | |
S$'000 | S$'000 | % | S$'000 | S$'000 | % | |
Revenue | 11,970 | 12,486 | (4) | 36,831 | 40,077 | (8) |
Other items of income | 30 | 31 | (4) | 85 | 92 | (8) |
Interest income | ||||||
Other income | 66 | 222 | (70) | 2,066 | 4,287 | (52) |
Items of expense | 13 | - | N.M. | 11 | (8) | (238) |
Financial expense | ||||||
Purchases and changes in inventories | (2,502) | (2,348) | 7 | (6,754) | (7,194) | (6) |
of consumables and medical supplies | ||||||
Employee benefits expense | (7,032) | (8,533) | (18) | (22,598) | (24,638) | (8) |
Depreciation and amortisation | (363) | (802) | (55) | (1,143) | (2,612) | (56) |
Rental expense | (1,982) | (2,091) | (5) | (6,490) | (6,425) | 1 |
Other expenses | (2,376) | (3,986) | (40) | (5,035) | (7,729) | (35) |
Share of results of associates | 106 | 327 | (68) | 388 | 845 | (54) |
Loss before tax | (2,071) | (4,694) | (56) | (2,639) | (3,305) | (20) |
Income tax | (126) | (52) | 142 | (198) | (52) | 281 |
Loss for the period | (2,197) | (4,746) | (54) | (2,837) | (3,357) | (15) |
Attributable to: | (2,331) | (4,533) | (49) | (3,110) | (2,588) | 20 |
Owners of the Company | ||||||
Non-controlling interests | 133 | (213) | (162) | 273 | (769) | (136) |
Loss for the period | (2,198) | (4,746) | (54) | (2,837) | (3,357) | (15) |
NM: Not Meaningful
Statement of Comprehensive Expense
Group | Third Quarter | Year-To-Date | ||||
Q3 2015 | Q3 2014 | Increase/ (Decrease) | 30/9/2015 | 30/9/2014 | Increase/ (Decrease) | |
S$'000 | S$'000 | % | S$'000 | S$'000 | % | |
Loss for the period | (2,197) | (4,746) | (54) | (2,837) | (3,357) | (15) |
Other comprehensive income/ (expense) | 79 | 18 | N.M. | 201 | 1,067 | N.M. |
Currency translation differences | ||||||
Total comprehensive expense for the period | (2,118) | (4,728) | (47) | (2,636) | (2,290) | 25 |
Total comprehensive income/ (expense) attributable to: | (2,381) | (4,497) | (1,898) | (1,524) | ||
Owners of the parent | ||||||
Non-controlling interests | 262 | (231) | (213) | (738) | (766) | (4) |
Total comprehensive expense for the period | (2,119) | (4,728) | (55) | (2,636) | (2,290) | 15 |
1(a)(ii) Loss for the period include the following:
Group | Third Quarter | Year to date | ||||
Q3 2015 | Q3 2014 | Increase/ | 30/9/2015 | 30/9/2014 | Increase/ | |
S$'000 | S$'000 | (Decrease) | S$'000 | S$'000 | (Decrease) | |
% | % | |||||
Interest income | 30 | 31 | (4) | 85 | 92 | (8) |
Interest expense | 13 | - | N.M. | 11 | (8) | (238) |
Loss on disposal of plant and equipment * | (261) | 2 | (13,150) | (227) | 1 | (22,800) |
Gain/(Loss) on disposal of subsidiary | - | 1,077 | N.M. | (67) | 1,689 | (100) |
Allowance for doubtful debts | 166 | (271) | (161) | (380) | (82) | |
Dividend income | - | 173 | N.M. | - | 278 | N.M. |
Bad debts written off | 128 | (23) | (657) | (196) | (142) | 38 |
Impairment of goodwill | - | (38) | N.M. | - | (38) | N.M. |
Plant and equipment written off * | (566) | (1) | N.M. | (390) | - | N.M. |
Depreciation and amortisation | (363) | (802) | (55) | (1,143) | (2,612) | (56) |
Foreign exchange (loss)/gain (net) | (27) | 1 | (2,800) | (27) | (2) | 1,250 |
N.M. Not meaningful
* The increase in plant and equipment written off and loss on disposal of plant and equipment arose from the disposal of assets and the termination of the Level 7 lease at Paragon.
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.
Group | Company | |||
30/09/2015 | 31/12/2014 | 30/09/2015 | 31/12/2014 | |
S$'000 | S$'000 | S$'000 | S$'000 | |
ASSETS | 1,261 | 2,737 | 56 | 120 |
Current assets: | ||||
Cash and bank | ||||
Trade and other receivables | 3,555 | 3,956 | 14,379 | 8,939 |
Deposits | 2,533 | 2,747 | 1,498 | 1,402 |
Other assets | 776 | 679 | 230 | 200 |
Inventories | 1,195 | 1,245 | - | - |
Assets of disposed group held for sale | 9,320 | 11,364 | 16,163 | 10,661 |
2,224 | 3,566 | - | ||
Non-current assets: | 11,544 | 14,930 | 16,163 | 10,661 |
- | - | 3,936 | 3,936 | |
Investments in subsidiaries | ||||
Investments in associates | 1,552 | 1,531 | 474 | 659 |
Property, plant and equipment | 2,955 | 4,266 | 684 | 1,698 |
Other assets | 400 | 1,163 | - | - |
TOTAL ASSETS | 4,907 | 6,960 | 5,094 | 6,293 |
16,451 | 21,890 | 21,257 | 16,954 | |
EQUITY AND LIABILITIES | 14,435 | 12,486 | 17,244 | 14,013 |
Current liabilities: | ||||
Trade and other payables | ||||
Other liabilities | 3,315 | 3,197 | 493 | 434 |
Income tax payable | 209 | 254 | - | - |
Finance leases | 44 | - | - | - |
Provisions | 110 | 411 | 256 | 405 |
Liabilities of disposed group held for sale | 18,113 | 16,348 | 17,993 | 14,852 |
722 | 4,133 | - | - | |
Non-current liabilities: | 18,835 | 20,481 | 17,993 | 14,852 |
29 | 29 | - | - | |
Deferred tax liabilities | ||||
Provisions | 478 | 870 | - | 317 |
TOTAL LIABILITIES | 507 | 899 | - | 317 |
19,342 | 21,380 | 17,993 | 15,169 | |
Equity attributable to owners of the Company: | 62,615 | 62,615 | 62,615 | 62,615 |
Share capital | ||||
Retained earnings | (64,129) | (60,254) | (59,351) | (60,830) |
Reserves | (639) | (533) | - | - |
Non-controlling interests | (2,153) | 1,828 | 3,264 | 1,785 |
(738) | (1,318) | - | - | |
TOTAL EQUITY | (2,891) | 510 | 3,264 | 1,785 |
TOTAL EQUITY AND LIABILITIES | 16,451 | 21,890 | 21,257 | 16,954 |
1(b)(ii) Aggregate amount of group's borrowings and debt securities.
Not Applicable.
1(c) A cash flow statement (for the group), together with a comparative statement for the corresponding period of the immediately preceding financial year.
Group | Q3 2015 | Q3 2014 |
S$'000 | S$'000 | |
Cash flows from operating activities: | (2,071) | (4,694) |
Loss before Tax | ||
Adjustments for: | 363 | 802 |
Depreciation expense | ||
Interest income | (30) | (31) |
Interest expense | (13) | 2 |
Fair value adjustment on financial assets & financial liabilities | 2 | 6 |
Share of loss / (profit) of associates | (106) | (327) |
Write back of provision for reinstatement cost | 184 | - |
Loss on disposal of Fixed Assets | 261 | - |
Fixed Assets written off | 439 | 1 |
Fixed Assets impairment | (53) | 1,970 |
Bad Debts written off | 128 | 23 |
Bad Debts recovered | - | (1) |
Provision for impairment of doubtful debts | (166) | 447 |
Unrealised exchange loss / (gain) | (28) | (1) |
Impairment loss on other investments/associates | - | 38 |
Operating loss before working capital changes | (1,090) | (1,765) |
Trade and other receivables | 179 | 1,304 |
Inventories | 118 | (42) |
Trade and other payables | 624 | 1,169 |
Cash from operations | (169) | 666 |
Income tax paid | (141) | (41) |
Net cash from used in operating activities | (310) | 625 |
Cash flows from investing activities: | 155 | 22 |
Proceeds from disposal of plant and equipment | ||
Purchase of property, plant and equipment | (177) | (72) |
Investment in associates | - | (80) |
Net cash inflow on disposal of asset classified as held for sale | - | 1,044 |
Interest received | 0 | 1 |
Net cash (used in)/from investing activities | (22) | 915 |
Cash flows from financing activities: | - | 17 |
Capital contribution from non-controlling interest of subsidiary | ||
Repayment of finance leases | (15) | (18) |
Interest paid | 13 | (2) |
Dividends paid | - | (384) |
Net cash used in financing activities | (2) | (387) |
Net increase / (decrease) in cash and cash equivalents | (334) | 1,153 |
Effect of exchange rate changes on cash and cash equivalents | 1 | 1 |
Cash and cash equivalents at beginning of period | 1,730 | 2,106 |
Cash and cash equivalents at end of period | 1,397 | 3,260 |
distributed by |