Strength & Stability - ECS Holdings Limited

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13 Amounts Due from/to Related Corporations Group Company Note 2008 2007 2008 2007 $’000 $’000 $’000 $’000 Amounts due from subsidiaries - Non-trade receivables - - 2,481 2,145 Loans receivable (current) - - 43,824 78,253 - - 46,305 80,398 Amounts due from associate - Non-trade receivables 323 1,576 323 1,576 10 323 1,576 46,628 81,974 Amounts due to subsidiaries - Non-trade payables - - 478 535 20 - - 478 535 The loans due from subsidiaries are unsecured, repayable on demand and bear interest at rates ranging from 1.96% to 6.73% (2007: 2.64% to 7.75%) per annum; and The non-trade balances are unsecured, interest-free and repayable on demand. There is no allowance made for doubtful receivables arising from the outstanding balances. 14 Cash and Cash Equivalents Group Company Note 2008 2007 2008 2007 $’000 $’000 $’000 $’000 Cash at bank and in hand 50,518 39,425 2,087 470 Bank overdrafts 18 (1,016) - - - Cash and cash equivalents in cash flow statement 49,502 39,425 2,087 470 The weighted average effective interest rates per annum relating to cash and cash equivalents, excluding bank overdrafts, at the balance sheet date for the Group range from 0.3% to 3.0% (2007: 0.5% to 2.0%) per annum. Interest rates reprice at monthly intervals. p. 74 Notes to the Financial Statements These notes form an integral part of the financial statements. ECS Holdings Limited
15 Share Capital Group and Company No. of shares 2008 2007 ’000 ’000 Issued and fully paid: At 1 January 365,360 363,599 Issue of shares - 1,761 At 31 December 365,360 365,360 In 2007, the Group has issued share options under its ECS Share Option Scheme II. At 31 December 2008, there were nil (2007: 110,000) outstanding share options of unissued ordinary shares of the Company granted under the ECS Share Option Scheme II. Capital Management The Board’s policy is to maintain a strong capital base so as to maintain investor, creditor and market confidence and to sustain future development of the business. The Board of Directors monitors the return on capital, which the Group defines as net operating income divided by total shareholders’ equity excluding minority interest. The Board also monitors the level of dividends to ordinary shareholders. The Group has a share buy-back mandate to purchase its own shares on the market; the timing of these purchases depends on market prices. Primarily, the shares purchased are intended to be used for issuing shares under the Group’s share option programme. Buy and sell decisions are made on a specific transaction basis by the Board. No shares have been purchased to date. There were no changes in the Group’s approach to capital management during the year. The Group is subject to externally imposed capital requirements which involve financial covenants relating to consolidated tangible net worth as stipulated by its bankers in respect of credit facilities. The Group ensures its compliance by monitoring such financial covenants on a regular basis. Notes to the Financial Statements These notes form an integral part of the financial statements. Annual Report 2008 p. 75
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ECS HOLDINGS LIMITED Annual Report
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ECS Holdings Limited (“ECS” or
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Annual Report 2008 p. 03
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Dear Stakeholders I am pleased to p
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AN OVERVIEW FY2008 distinguishes it
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We believe that by honing these ope
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Stroll down memory lane and re-live
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SHAREHOLDERS’ EQUITY ($ million)
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1. CHAIRMAN Mr Li Jia Lin was appoi
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Page 29 and 30: 2008 AWARDS Group • ECS Holdings
Page 31 and 32: Financial Contents Corporate Govern
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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
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Page 47 and 48: Opinion In our opinion: (a) (b) the
Page 49 and 50: Note 2008 2007 $’000 $’000 Reve
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: 11 Trade Receivables (Cont’d) The
Page 79 and 80: 17 Equity Compensation Benefits The
Page 81 and 82: 18 Financial Liabilities (Cont’d)
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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
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Page 97 and 98: 32 Related Parties Transactions wit
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Page 101 and 102: SUBSTANTIAL SHAREHOLDERS Number of
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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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