|
|
Group |
Company |
|
|
2008 |
2007 |
2008 |
2007 |
|
Note |
S$’000 |
S$’000 |
S$’000 |
S$’000 |
|
|
|
|
|
|
Raw materials |
|
97,768 |
72,532 |
4,582 |
— |
Finished goods |
|
69,488 |
41,417 |
4,771 |
— |
|
|
167,256 |
113,949 |
9,353 |
— |
Allowance for inventory obsolescence |
|
(8,370) |
(7,286) |
— |
— |
|
|
158,886 |
106,663 |
9,353 |
— |
Work-in-progress |
(a) |
790,960 |
1,550,384 |
— |
— |
|
|
949,846 |
1,657,047 |
9,353 |
— |
|
|
|
|
|
|
a. Work-in-progress: |
|
|
|
|
|
Costs and attributable profits |
|
3,651,155 |
5,149,233 |
1,343 |
— |
Allowance for foreseeable losses |
|
(4,254) |
(1,297) |
— |
— |
|
|
3,646,901 |
5,147,936 |
1,343 |
— |
Progress billings |
|
(3,830,974) |
(4,166,293) |
(1,343) |
— |
|
|
(184,073) |
981,643 |
— |
— |
|
|
|
|
|
|
Comprising: |
|
|
|
|
|
Work-in-progress |
|
790,960 |
1,550,384 |
— |
— |
Excess of progress billings over work-in-progress |
|
(975,033) |
(568,741) |
— |
— |
|
|
(184,073) |
981,643 |
— |
— |
|
|
Group |
Company |
|
|
2008 |
2007 |
2008 |
2007 |
|
Note |
S$’000 |
S$’000 |
S$’000 |
S$’000 |
|
|
|
|
|
|
Trade receivables |
13 |
577,316 |
644,983 |
15,280 |
— |
Current portion of finance lease |
14 |
3,374 |
15,551 |
— |
— |
Amount due from related parties |
15 |
6,105 |
19,161 |
8,917 |
21,433 |
Other receivables, deposits and prepayments |
20 |
595,385 |
655,267 |
193,182 |
176,877 |
Other financial assets |
11 |
29,769 |
67,649 |
— |
— |
Advance to suppliers |
|
7,152 |
2,085 |
— |
— |
|
|
1,219,101 |
1,404,696 |
217,379 |
198,310 |
|
|
Group |
Company |
|
|
2008 |
2007 |
2008 |
2007 |
|
Note |
S$’000 |
S$’000 |
S$’000 |
S$’000 |
|
|
|
|
|
|
Deposits |
|
7,356 |
5,789 |
1,124 |
671 |
Prepayments |
|
34,196 |
46,124 |
2,391 |
542 |
Tax recoverable |
|
259,896 |
214,991 |
175,394 |
174,984 |
Sundry receivables |
|
81,761 |
67,834 |
467 |
740 |
Unbilled receivables |
|
207,593 |
287,539 |
13,294 |
— |
Loan receivables |
|
7,234 |
21,079 |
— |
— |
Recoverable |
|
6,300 |
19,660 |
572 |
— |
Interest receivable |
|
601 |
845 |
— |
— |
|
|
604,937 |
663,861 |
193,242 |
176,937 |
Allowance for doubtful receivables |
|
(9,552) |
(8,594) |
(60) |
(60) |
|
19 |
595,385 |
655,267 |
193,182 |
176,877 |
Unbilled receivables represent revenue accrued for sale of utilities services, electricity, gas and other related products.
The assets held for sale in 2007 include interests in joint ventures. At the end of 2007, a wholly-owned subsidiary entered into a sales agreement for the sale of certain joint ventures. The sale was completed in June 2008 by the subsidiary.
|
|
Group |
Company |
|
|
2008 |
2007 |
2008 |
2007 |
|
Note |
S$’000 |
S$’000 |
S$’000 |
S$’000 |
|
|
|
|
|
|
Bank balances, fixed deposits and cash |
|
2,400,954 |
1,296,892 |
45,541 |
189,470 |
Bank overdrafts |
29 |
— |
(889) |
— |
— |
Cash and cash equivalents in the consolidated cash flow statement |
|
2,400,954 |
1,296,003 |
45,541 |
189,470 |
Included in the Group’s cash and cash equivalents at the balance sheet date are amounts of S$7.5 million (2007: S$13. million) held in countries with foreign exchange control restrictions.
|
|
Group |
Company |
|
|
2008 |
2007 |
2008 |
2007 |
|
Note |
S$’000 |
S$’000 |
S$’000 |
S$’000 |
|
|
|
|
|
|
Trade payables |
|
1,500,869 |
1,302,592 |
3,264 |
— |
Advance payments from customers |
|
36,673 |
27,667 |
555 |
— |
Other financial liabilities |
24 |
166,738 |
28,941 |
— |
— |
Amount due to related parties |
25 |
10,248 |
18,399 |
232,086 |
215,227 |
Other payables and accrued charges |
26 |
906,906 |
864,828 |
80,629 |
33,956 |
|
|
2,621,434 |
2,242,427 |
316,534 |
249,183 |
|
|
Group |
|
|
2008 |
2007 |
|
Note |
S$’000 |
S$’000 |
|
|
|
|
a. Current Liabilities |
|
|
|
Financial liabilities at fair value through profit or loss: |
|
|
|
– Interest rate swaps |
|
1,001 |
1,457 |
– Forward foreign exchange contracts |
|
127 |
34 |
– Foreign exchange swap contracts |
|
2,454 |
82 |
– Commodity contracts |
|
44 |
1,006 |
Cash flow hedges: |
|
|
|
– Interest rate swaps |
|
6,703 |
184 |
– Forward foreign exchange contracts |
|
72,530 |
6,453 |
– Foreign exchange swap contracts |
|
1,261 |
— |
– Fuel oil swap contracts |
|
82,618 |
188 |
– Forward electricity sale |
|
— |
19,537 |
|
23 |
166,738 |
28,941 |
b. Non-current Liabilities |
|
|
|
Cash flow hedges: |
|
|
|
– Interest rate swaps |
|
10,913 |
1,192 |
– Forward foreign exchange contracts |
|
50,506 |
1,079 |
– Fuel oil swap contracts |
|
3,669 |
— |
|
30 |
65,088 |
2,271 |
|
|
Associates
 |
Joint ventures
|
Minority shareholders of subsidiaries
|
Total
|
|
|
2008 |
2007 |
2008 |
2007 |
2008 |
2007 |
2008 |
2007 |
|
Note |
S$’000 |
S$’000 |
S$’000 |
S$’000 |
S$’000 |
S$’000 |
S$’000 |
S$’000 |
|
|
|
|
|
|
|
|
|
|
Group |
|
|
|
|
|
|
|
|
|
Amounts due to: |
|
|
|
|
|
|
|
|
|
Trade |
|
— |
4,762 |
2,034 |
3,591 |
312 |
244 |
2,346 |
8,597 |
Non-trade |
|
1,604 |
3,045 |
5,364 |
5,329 |
— |
492 |
6,968 |
8,866 |
Loans |
|
— |
— |
— |
— |
8,585 |
5,420 |
8,585 |
5,420 |
|
|
1,604 |
7,807 |
7,398 |
8,920 |
8,897 |
6,156 |
17,899 |
22,883 |
Amounts due after 1 year |
30 |
— |
— |
— |
— |
(7,651) |
(4,484) |
(7,651) |
(4,484) |
|
23 |
1,604 |
7,807 |
7,398 |
8,920 |
1,246 |
1,672 |
10,248 |
18,399 |
|
| |
Loans from minority shareholders of subsidiaries of S$7,651,000 (2007: S$4,484,000) bear interest at rates ranging from 3.53% to 7.02% (2007: 3.53%) per annum and are unsecured and repayable from 2011 to 2014.
The remaining non-trade amounts and loans due to related parties are unsecured, interest-free and repayable on demand.
|
|
Subsidiaries
|
Associates
|
Total
|
|
|
2008 |
2007 |
2008 |
2007 |
2008 |
2007 |
|
Note |
S$’000 |
S$’000 |
S$’000 |
S$’000 |
S$’000 |
S$’000 |
|
|
|
|
|
|
|
|
Company |
|
|
|
|
|
|
|
Amounts due to related parties |
(i) |
25,888 |
25,223 |
— |
4 |
25,888 |
25,227 |
Loans from a related party |
(ii) |
664,932 |
190,000 |
— |
— |
664,932 |
190,000 |
|
|
690,820 |
215,223 |
— |
4 |
690,820 |
215,227 |
Amounts due after 1 year |
30 |
(458,734) |
— |
— |
— |
(458,734) |
— |
|
23 |
232,086 |
215,223 |
— |
4 |
232,086 |
215,227 |
| i. |
The amounts due to related parties are unsecured, interest-free and repayable on demand. |
| ii. |
The loans from a related party comprise:
| a. |
S$206,000,000 (2007: S$190,000,000) which are unsecured, repayable on demand and bear an effective interest rate of 1.23% (2007: 2.59%) per annum. |
| b. |
S$458,700,000 (2007: S$Nil) which are unsecured, repayable on December 31, 2013 and bear an effective interest rate of 2.48% (2007: Nil) per annum. |
|
|
|
|
|
|
