UOBKH/AR09 [web] - ChartNexus

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32 Consolidated Statement Of Cash Flows (continued) Year ended 31 December 2009 Financing activities Note 2009 2008 $ $ Net drawdown (repayment) of short-term bank loans 106,246,478 (751,204,867) Dividends paid (54,353,176) (89,791,445) Net cash from (used in) financing activities 51,893,302 (840,996,312) Net (decrease) increase in cash and cash equivalents during the year (541,294,164) 583,325,598 Cash and cash equivalents at beginning of the year 708,723,767 125,398,169 Cash and cash equivalents at end of the year 6 167,429,603 708,723,767 Note A: Non-cash transaction During the current financial year, the Group accquired property, plant and equipment of $36,724,438 (2008: $40,599,082) of which $4,700,000 (2008: $NIL) remains unpaid at the end of the reporting period. This is recorded in accrued operating expenses as part of trade and other payables. See accompanying notes to financial statements.
Notes To Financial Statements 31 December 2009 1 GENERAL The Company (Registration No. 200004464C) is incorporated in Singapore with its principal place of business and address of its registered office at 8 Anthony Road, #01-01, Singapore 229957 (2008 : 80 Raffles Place, #30-01 UOB Plaza 1, Singapore 048624). The Company is listed on the Singapore Exchange Securities Trading Limited. The financial statements are expressed in Singapore dollars. The principal activity of the Company is that of investment holding. The principal activities of its subsidiaries are stockbroking, futures broking, investment trading, margin financing, investment holding and provision of nominee and research services. The consolidated financial statements of the Group and statement of financial position and statement of changes in equity of the Company for the year ended 31 December 2009 were authorised for issue by the Board of Directors on 31 March 2010. 2 SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES BASIS OF ACCOUNTING – The financial statements are prepared in accordance with the historical cost convention, except as disclosed in the accounting policies below, and are drawn up in accordance with the provisions of the Singapore Companies Act and Singapore Financial Reporting Standards (“FRS”). ADOPTION OF NEW AND REVISED STANDARDS – In the current financial year, the Group has adopted all the new and revised FRSs and Interpretations of FRS (“INT FRS”) that are relevant to its operations and effective for annual periods beginning on or after 1 January 2009. The adoption of these new/revised FRSs and INT FRSs does not result in changes to the Group’s and the Company’s accounting policies and has no material effect on the amounts reported for the current or prior years except as disclosed below: FRS 1 – Presentation of Financial Statements (Revised) FRS 1 (2008) has introduced terminology changes (including revised titles for the financial statements) and changes in the format and content of the financial statements. In addition, the revised Standard requires the presentation of a third statement of financial position at the beginning of the earliest comparative period presented if the entity applies new accounting policies retrospectively or makes retrospective restatements or reclassifies items in the financial statements. Amendments to FRS 107 Financial Instruments : Disclosures – Improving Disclosures about Financial Instruments The amendments to FRS 107 expand the disclosures required in respect of fair value measurements and liquidity risk. The Group has elected not to provide comparative information for these expanded disclosures in the current year in accordance with the transitional reliefs offered in these amendments. FRS 108 – Operating Segments The Group has adopted FRS 108 with effect from 1 January 2009. FRS 108 requires operating segments to be identified on the basis of internal reports about components of the Group that are regularly reviewed by the chief operating decision maker in order to allocate resources to the segment and to assess its performance. In contrast, the predecessor Standard (FRS 14 Segment Reporting) required an entity to identify two sets of segments (Business and Geographical), using a risks and rewards approach, with the entity’s ‘system of internal financial reporting to key management personnel’ serving only as the starting point for the identification of such segments. For the Group, the operating segments identified under FRS 108 are consistent with those previously identified under FRS 14. At the date of authorisation of these financial statements, the following FRSs and amendments to FRS that are relevant to the Group and the Company were issued but not effective: ● Amendment to FRS 39 Financial Instruments: Recognition and Measurement – Eligible Hedged Items ● Amendment to FRS 39 Financial Instruments: Recognition and Measurement and INT FRS 109 Reassessment of Embedded Derivatives – Amendments relating to Embedded Derivatives ● FRS 27 (Revised) Consolidated and Separate Financial Statements; and FRS 103 (Revised) Business Combinations ● Improvements to Financial Reporting Standards (issued in June 2009) Consequential amendments were also made to various standards as a result of these new/revised standards. 33
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Page 10 and 11: 8 Chairman’s Statement Stock mark
Page 12 and 13: 10 Economic Review & Outlook 2010 (
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Page 72 and 73: 70 Analysis Of Shareholdings as at
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