enl commercial limited annual report 2011 - Investing In Africa

More documents

Recommendations

Info

Notes to the Financial Statements Year ended June 30, 2011 14 HELD FOR TRADING SECURITIES THE GROUP AND THE COMPANY (a) The carrying amounts of the held for trading securities are classified as follows: Listed Unquoted Official DEM 2011 2010 market listed Total Total Rs’000 Rs’000 Rs’000 Rs’000 Rs’000 At July 1, 1 - 3,755 3,756 21,520 Disposal - - - - (19,254) Fair value gains - - - - 1,490 At June 30, 1 - 3,755 3,756 3,756 (b) At June 30, 2011 & 2010 Level 1 Level 2 Level 3 Total Rs’000 Rs’000 Rs’000 Rs’000 Held for trading securities - - 3,756 3,756 Held for trading securities comprise principally of unquoted investments and were valued by Ernst & Young at the end of the reporting period. Unquoted investments were valued on a dividend yield basis. Held for trading securities are denominated in Mauritian rupees. Investments included in level 1 comprise of quoted equity investments. If all significant inputs required to fair value an investment are observable, the investment is included in level 2. If one or more of the significant inputs are not based on observable market data, the investment is included in level 3. Further information is presented in note 3.2. The carrying amount of held for trading securities would be an estimated Rs 375,000 lower/higher were the alternative valuation techniques used to differ by 10 % from management estimates. (c) Changes in fair values of held for trading securities are recorded on the statement of comprehensive income. 15 NON-CURRENT ASSETS CLASSIFIED AS HELD FOR SALE THE GROUP THE COMPANY 2011 2010 2011 2010 Rs’000 Rs’000 Rs’000 Rs’000 At July 1, - - - - Transfer from investment in financial assets 679,872 - 679,872 - At June 30, 679,872 - 679,872 - At a board meeting held on 22 August, 2011, it was resolved that the company will dispose of its noncore investments in the next financial year. Consequently these investments have been reclassified as non current assets classified as held for sale. 92 ENL Commercial Limited Annual Report 2011
Notes to the Financial Statements Year ended June 30, 2011 16 SHARE CAPITAL Number of Ordinary Share shares shares premium Total Rs’000 Rs’000 Rs’000 At June 30, 2011 and 2010 29,172,500 29,173 148,787 177,960 The total number of ordinary shares is 29,172,500 shares (2010: 29,172,500 shares) with no par value. All issued shares are fully paid. 17 BORROWINGS THE GROUP THE COMPANY 2011 2010 2011 2010 Rs’000 Rs’000 Rs’000 Rs’000 Non-current Bank loans 346,718 107,524 134,674 33,881 Unsecured loans 40 40 40 40 Loan capital excluding obligations under finance leases (see note (b)) 346,758 107,564 134,714 33,921 Obligations under finance lease (see note (c)) 56,260 27,365 - - 403,018 134,929 134,714 33,921 Current Bank overdrafts 136,238 199,603 28,515 62,860 Bank loans 190,168 123,936 71,482 82,789 Loans at call 8 8 8 8 Obligations under finance lease (see note (c)) 29,568 12,245 - - 355,982 335,792 100,005 145,657 Total borrowings 759,000 470,721 234,719 179,578 (a) (b) The bank loans and other secured loans are secured over certain of the assets of the group. Lease liabilities are effectively secured as the rights to the leased assets revert to the lessor in the event of default. The maturity of non current loans is as follows: THE GROUP THE COMPANY 2011 2010 2011 2010 Rs’000 Rs’000 Rs’000 Rs’000 Repayable by instalments: - after one year and before two years 40,677 20,934 21,898 14,161 - after two years and before three years 32,464 22,778 14,306 14,585 - after three years and before five years 88,962 13,348 39,513 5,135 - after five years 184,655 50,504 58,997 40 346,758 107,564 134,714 33,921 The carrying amounts of non-current borrowings are not materially different from their fair values. ENL Commercial Limited Annual Report 2011 93
Page 1 and 2:
ENL COMMERCIAL LIMITED ANNUAL REPOR
Page 3 and 4:
Dear Shareholder, The Board of Dire
Page 5 and 6:
ENL Commercial Limited Annual Repor
Page 7 and 8:
Portfolio of operating companies of
Page 9 and 10:
Dividend per Share (Rs) 0.80 0.80 0
Page 11 and 12:
ENL Commercial Limited Annual Repor
Page 13 and 14:
Directors’ Report (continued) Ass
Page 15 and 16:
AXESS LIMITED ENL Commercial Limite
Page 17 and 18:
CHARABIA LTD ENL Commercial Limited
Page 19 and 20:
COGIR LIMITÉE ENL Commercial Limit
Page 21 and 22:
GREWALS (MAURITIUS) LIMITED ENL Com
Page 23 and 24:
PACK PLASTICS LIMITED ENL Commercia
Page 25 and 26:
Statement of Directors’ Responsib
Page 27 and 28:
PLASTINAX AUSTRAL LIMITÉE ENL Comm
Page 29 and 30:
ACTIVITIES FRCI specialises in info
Page 31 and 32:
Corporate Information June 30, 2011
Page 33 and 34:
Corporate Governance Report (contin
Page 35 and 36:
Page 37 and 38:
Page 39 and 40:
Page 41 and 42:
Page 43 and 44: Corporate Governance Report (contin
Page 51 and 52: Share Analysis Distribution of Shar
Page 53 and 54: ENL Commercial Limited Annual Repor
Page 55 and 56: ENL Foundation (continued) 3. Eradi
Page 57 and 58: ENL Foundation (continued) Breakdow
Page 59 and 60: Other Statutory Disclosures (Pursua
Page 61 and 62: Other Statutory Disclosures (Pursua
Page 63 and 64: Company Secretary’s Certificate (
Page 65 and 66: Independent Auditors’ Report to t
Page 67 and 68: Statements of Financial Position Ju
Page 69 and 70: Statements of Comprehensive Income
Page 71 and 72: Statements of Cash Flows Year ended
Page 73 and 74: Notes to the Financial Statements Y
Page 93: Notes to the Financial Statements Y
Page 115 and 116: Proxy Form ENL Commercial Limited I
Page 117 and 118: Notes ENL Commercial Limited Annual
Page 120: ENL Commercial Limited 7 th Floor S
show all

enl commercial limited annual report 2011 - Investing In Africa

You also want an ePaper? Increase the reach of your titles

Delete template?

Save as template?