Singapore Press Holdings annual report 2011 Singapore Press ...

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88 Singapore Press Holdings annual report 2011 Independent AUDITORS’ REPORT to the members of Singapore Press Holdings Limited Report on Other Legal and Regulatory Requirements In our opinion, the accounting and other records required by the Act to be kept by the Company and by those subsidiaries incorporated in Singapore of which we are the auditors, have been properly kept in accordance with the provisions of the Act. PricewaterhouseCoopers LLP Public Accountants and Certified Public Accountants Singapore, October 12, 2011
Balance Sheets as at August 31, 2011 89 Group Company 2011 2010 2011 2010 Note S$’000 S$’000 S$’000 S$’000 CAPITAL EMPLOYED Share capital 4 499,484 494,738 499,484 494,738 Treasury shares 4 (11,024) (19,921) (11,024) (19,921) Reserves 5 318,965 281,685 59,486 54,081 Retained profits 1,424,580 1,469,780 714,614 722,000 Shareholders’ interests 2,232,005 2,226,282 1,262,560 1,250,898 Non-controlling interests 74,584 79,744 - - Total equity 2,306,589 2,306,026 1,262,560 1,250,898 EMPLOYMENT OF CAPITAL Non-current assets Property, plant and equipment 8 394,086 427,783 252,315 274,831 Investment properties 9 1,754,259 1,730,069 - - Investments in subsidiaries 11 - - 388,868 386,840 Investments in associates 12 68,414 56,103 33,109 29,326 Investments in jointly-controlled entities 13 14,325 11,002 - - Trade and other receivables 17a 4,167 4,857 310,278 306,524 Long-term investments 14 360,249 306,226 36,797 31,633 Intangible assets 15 83,814 49,339 - - 2,679,314 2,585,379 1,021,367 1,029,154 Current assets Inventories 16 37,317 26,974 36,093 26,154 Trade and other receivables 17b 151,969 259,267 1,274,050 1,250,414 Short-term investments 18 622,555 896,569 113,712 205,145 Derivative financial instruments 19 5,105 4,818 373 35 Cash and cash equivalents 20a 392,514 460,995 270,670 231,418 1,209,460 1,648,623 1,694,898 1,713,166 Total assets 3,888,774 4,234,002 2,716,265 2,742,320 Non-current liabilities Trade and other payables 21a 27,776 21,438 - - Deferred income tax liabilities 6a 49,481 54,161 37,626 41,129 Borrowings 7 1,011,168 860,114 598,797 748,453 Derivative financial instruments 19 6,421 2,352 - 2,352 1,094,846 938,065 636,423 791,934 Current liabilities Trade and other payables 21b 296,670 286,861 657,470 641,624 Current income tax liabilities 89,488 120,213 59,431 57,831 Borrowings 7 100,800 570,800 100,000 - Derivative financial instruments 19 381 12,037 381 33 487,339 989,911 817,282 699,488 Total liabilities 1,582,185 1,927,976 1,453,705 1,491,422 Net assets 2,306,589 2,306,026 1,262,560 1,250,898 The accompanying notes form an integral part of these financial statements.
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BUILDING ON OUR STRENGTHS Singapore
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OUR MISSION To Inform, Educate & En
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STRENGTH in depth Our decades of ex
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STRENGTH in mobility Transcending l
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Group financial HIGHLIGHTS for the
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Businesses and products UNDER THE S
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15 I am pleased to report that the
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17 SPH is proud to have been honour
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19 Dr Tan is a Singapore Government
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21 Ms Chong, a licensed valuer, gra
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Corporate INFORMATION 23 Executive
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25 Tony Mallek Han Fook Kwang Goh S
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27 Han Fook Kwang Editor, The Strai
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29 Sng Ngoi May Executive Director,
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31 Despite an uncertain economic cl
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34 Singapore Press Holdings annual
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Page 41 and 42: 39 Paragon Food & Beverage Fair 201
Page 43 and 44: 41 DECEMBER 2010 Paragon’s Interi
Page 45 and 46: 43 15 MAY 2011 Shape Singapore laun
Page 47 and 48: 45 SPH & SPH Foundation Charity Giv
Page 49 and 50: 47 President’s Challenge - “Tho
Page 51 and 52: Corporate social responsibility - S
Page 53 and 54: Environmental SUSTAINABILITY 51 SPH
Page 55 and 56: 53 SPH Family Day Yoga class for st
Page 57 and 58: 55 Singapore HR Awards 2011 Preside
Page 59 and 60: 57 Asian Publishing Awards 2011 17.
Page 61 and 62: 59 Board attendance The Board meets
Page 63 and 64: 61 Access to information Principle
Page 65 and 66: 63 Remuneration of Executives The B
Page 67 and 68: 65 A webcast of the half-year and f
Page 69 and 70: 67 Mr Willie Cheng Jue Hiang Curren
Page 71 and 72: Risk MANAGEMENT 69 SPH has put in p
Page 73 and 74: Daily average NEWSPAPERS CIRCULATIO
Page 75 and 76: 73 After-Tax Profit (S$’m) Return
Page 77 and 78: Value added STATEMENT for the finan
Page 79 and 80: 77 Investor Relations Calendar 1st
Page 81: 79 Recurring Earnings @ and Dividen
Page 84 and 85: 82 Singapore Press Holdings annual
Page 86 and 87: Directors’ Report for the financi
Page 92 and 93: Consolidated Income Statement for t
Page 94 and 95: Consolidated Statement of Changes i
Page 100 and 101: Notes to the Financial StatementS A
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Notes to the Financial StatementS A
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Operating Companies OF the Group as
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Overseas BUREAUS as at August 15, 2
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Overseas BUREAUS as at August 15, 2
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Singapore Press Holdings Limited 10
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