Strength & Stability - ECS Holdings Limited

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Group Company Note 2008 2007 2008 2007 $’000 $’000 $’000 $’000 Non-Current Assets Property, plant and equipment 3 10,918 10,599 225 198 Goodwill on consolidation 4 33,522 33,522 - - Subsidiaries 5 - - 174,374 107,774 Interest in associate 6 7,284 7,019 - - Other financial assets 7 303 718 151 151 Deferred tax assets 8 4,257 2,314 - - 56,284 54,172 174,750 108,123 Current Assets Inventories 9 175,292 163,094 - - Trade and other receivables 10 444,662 428,890 46,697 82,014 Cash and cash equivalents 14 50,518 39,425 2,087 470 670,472 631,409 48,784 82,484 Total Assets 726,756 685,581 223,534 190,607 Equity Attributable to Equity Holders of the Company Share capital 15 112,815 112,815 112,815 112,815 Reserves 16 124,986 99,838 20,741 11,907 237,801 212,653 133,556 124,722 Minority Interests 14,285 10,983 - - Total Equity 252,086 223,636 133,556 124,722 Non-Current Liabilities Financial liabilities 18 66,818 5 66,600 - Deferred income 19 978 968 - - Deferred tax liabilities 8 886 308 27 27 68,682 1,281 66,627 27 Current Liabilities Financial liabilities 18 126,596 190,533 20,660 62,790 Deferred income 19 556 302 - - Trade and other payables 20 275,424 267,111 2,594 2,964 Current tax payable 3,412 2,718 97 104 405,988 460,664 23,351 65,858 Total Liabilities 474,670 461,945 89,978 65,885 Total Equity and Liabilities 726,756 685,581 223,534 190,607 p. 46 Balance Sheets As at 31 December 2008 ECS Holdings Limited . The accompanying notes form an integral part of these financial statements.
Note 2008 2007 $’000 $’000 Revenue 22 2,949,871 2,789,415 Cost of sales (2,800,395) (2,655,162) Gross profit 149,476 134,253 Other income 4,915 4,176 Selling and distribution expenses (60,057) (55,023) General and administrative expenses (42,090) (40,893) Profit from operations 23 52,244 42,513 Finance costs 24 (11,350) (8,730) Share of profit of associate, net of tax 492 825 Profit before income tax 41,386 34,608 Income tax expense 25 (8,115) (8,445) Profit for the year 33,271 26,163 Attributable to: Equity holders of the Company 29,386 23,352 Minority interests 3,885 2,811 33,271 26,163 Earnings per share 26 - Basic 8.0 cents 6.4 cents - Fully diluted 8.0 cents 6.4 cents . The accompanying notes form an integral part of these financial statements. Consolidated Income Statement Year Ended 31 December 2008 Annual Report 2008 p. 47
Page 1 and 2: ECS HOLDINGS LIMITED Annual Report
Page 3 and 4: ECS Holdings Limited (“ECS” or
Page 5 and 6: Annual Report 2008 p. 03
Page 7 and 8: Dear Stakeholders I am pleased to p
Page 13 and 14: AN OVERVIEW FY2008 distinguishes it
Page 15 and 16: We believe that by honing these ope
Page 17 and 18: Stroll down memory lane and re-live
Page 19 and 20: SHAREHOLDERS’ EQUITY ($ million)
Page 23 and 24: 1. CHAIRMAN Mr Li Jia Lin was appoi
Page 25 and 26: 1. 2. 3. 4. 5. 6. 7. 8. 9. 10. 11.
Page 27 and 28: 7. President (The Value Systems Co.
Page 29 and 30: 2008 AWARDS Group • ECS Holdings
Page 31 and 32: Financial Contents Corporate Govern
Page 33 and 34: The Board intends to hold about fou
Page 35 and 36: Level and Mix of Remuneration; Disc
Page 37 and 38: Audit Committee Principle 11 : The
Page 39 and 40: D) COMMUNICATION WITH SHAREHOLDERS
Page 41 and 42: Directors’ Interests (Cont’d) E
Page 43 and 44: Share Options (Cont’d) Except as
Page 45 and 46: In our opinion: (a) (b) the financi
Page 47: Opinion In our opinion: (a) (b) the
Page 51 and 52: Total attributable to equity Share
Page 53 and 54: Note 2008 2007 $’000 $’000 Fina
Page 55 and 56: 2 Summary of Significant Accounting
Page 65 and 66: 3 Property, Plant and Equipment Fre
Page 67 and 68: 3 Property, Plant and Equipment (Co
Page 69 and 70: 5 Subsidiaries Company Note 2008 20
Page 71 and 72: 6 Interest in Associate Group 2008
Page 73 and 74: 10 Trade and Other Receivables Grou
Page 75 and 76: 11 Trade Receivables (Cont’d) The
Page 77 and 78: 15 Share Capital Group and Company
Page 79 and 80: 17 Equity Compensation Benefits The
Page 81 and 82: 18 Financial Liabilities (Cont’d)
Page 83 and 84: 18 Financial Liabilities (Cont’d)
Page 85 and 86: 23 Profit from Operations The follo
Page 87 and 88: 26 Earnings per Share Group 2008 20
Page 89 and 90: 27 Segment Information (Cont’d) R
Page 91 and 92: 28 Geographical Segments (Group) Th
Page 93 and 94: 29 Financial Risk Management (Cont
Page 95 and 96: 29 Financial Risk Management (Cont
Page 97 and 98: 32 Related Parties Transactions wit
Page 99 and 100:
34 New Accounting Standards and Int
Page 101 and 102:
SUBSTANTIAL SHAREHOLDERS Number of
Page 103 and 104:
at any time and upon such terms and
Page 105 and 106:
(a) (b) market purchases (each a
Page 107 and 108:
(ii) Resolution 6(b), if passed, wi
Page 109 and 110:
Proxy Form Annual General Meeting E
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