Financial Statement - Food Empire Holdings Limited

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Note 2: Included in taxation for half year ended 30 June 2005 is an underprovision of S$338,000 (2004:S$nil) for the prior year. NM: Not meaningful. 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 Group Company Company 30/06/2005 (S$'000) 31/12/2004 (Restated) (S$'000) 30/06/2005 (S$'000) 31/12/2004 (Restated) (S$'000) Assets Less Liabilities Non-Current Assets Fixed assets 14,450 13,369 - - Investments in subsidiary companies - - 12,519 12,519 Investments in associated companies 1,427 1,272 979 979 Deferred tax assets 948 1,385 - - Intangible assets 7,738 - - - 24,563 16,026 13,498 13,498 Current Assets Cash and bank balances 13,194 15,680 634 83 Trade receivables 30,094 27,967 - - Prepayments,other deposits and other 4,392 4,996 711 1,147 receivables Amounts due from subsidiary companies (non-trade) - - 21,655 16,168 Amounts due from associated companies (trade) 64 138 - - Amounts due from associated companies (non-trade) 464 890 - 439 Inventories 34,680 31,906 - - 82,888 81,577 23,000 17,837 Current Liabilities Trade payables and accruals (13,970) (19,555) (406) - Other payables (821) (414) (9) (314) Amount due to a related party (trade) - (1) - - Provision for taxation (4,380) (3,877) (9) (9) (19,171) (23,847) (424) (323) Net Current Assets 63,717 57,730 22,576 17,514 Non-Current Liability Deferred tax liabilities (262) (249) - - (262) (249) - - Net Assets 88,018 73,507 36,074 31,012 Equity Share capital 18,877 17,457 18,877 17,457 Reserves 65,153 51,636 17,197 13,555 84,030 69,093 36,074 31,012 Minority interests 3,988 4,414 - - 88,018 73,507 36,074 31,012
1(b)(ii) Aggregate amount of group’s borrowings and debt securities. Amount repayable in one year or less, or on demand As at 30/06/2005 As at 31/12/2004 Secured Unsecured Secured Unsecured 0 0 0 0 Amount repayable after one year As at 30/06/2005 As at 31/12/2004 Secured Unsecured Secured Unsecured 0 0 0 0 Details of any collateral NIL 1(c) A cash flow statement (for the group), together with a comparative statement for the corresponding period of the immediately preceding financial year. Cash flows from operating activities: 3 mths ended 3 mths ended 6 mths ended 6 mths ended 30 June 2005 30 June 2004 30 June 2005 30 June 2004 (Restated) (Restated) (S$'000) (S$'000) (S$'000) (S$'000) Profit from ordinary activities before taxation and minority 4,907 4,457 12,649 10,574 interests Adjustments for: Amortisation of goodwill - 5 - 10 Depreciation of fixed assets 422 381 861 750 Exchange realignment 1,082 801 1,355 360 Loss/ (gain) on disposal of fixed assets 25 - 16 (9) Interest expense 23 - 23 - Interest income (25) (5) (45) (6) Share of losses/(gains) of associated companies 99 (6) 67 30 Share-based payment expenses 145 57 276 63 Operating income before reinvestment in working capital 6,678 5,690 15,202 11,772 Increase in receivables (2,123) (3,677) (1,008) (3,640) Increase in inventories (1,914) (6,513) (2,774) (4,884) Increase/(decrease) in payables 21 5,148 (5,454) 3,896 Cash generated from / (used in) from operations 2,662 648 5,966 7,144 Income taxes paid (1,289) (790) (2,062) (1,457) Net cash generated from / (used in) from operating activities 1,373 (142) 3,904 5,687 Cash flows from investing activities: Interest received 25 5 45 6 Purchase of fixed assets (896) (258) (1,679) (419) Proceeds from sale of fixed assets 3 - 3 9
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Financial Statement - Food Empire Holdings Limited

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