SEC Form 17-A: Annual Report - the solid group inc website

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46 Revaluation reserves – 57% increase to (P43) million from (P101) million Principally due to other comprehensive income for the period consisting of currency differences on translating financial statements of foreign operations, fair value gains on available for sale financial assets and reclassification adjustments for losses recognized in profit or loss. This account stood at 0.41% and 1% total liabilities and equity in 2010 and 2009, respectively. Retained earnings – 24% increase to P1.183 million from P954 million As a result of net income during the period. This account stood at 11% and 9% of total liabilities and equity in 2010 and 2009, respectively. Income Statement Items (2011 vs. 2010) (Increase or decrease of 5% or more in the financial statements) Sale of goods – 93% increase to P3135 million from P1,622 million Primarily because digital products sales doubled in 2011. As a percentage of total revenues, this account represents 76% and 60% in 2011 and 2010 , respectively. Service revenue –P682 million from P694 million No material change. Sale of real estate – 39% decrease to P126 million from P207 million Principally due to lower sale of industrial lots. As a percentage of total revenues, this account decreased to 16% in 2011 and 8% in 2010. Rental income – 30% increase to P157 million from P121 million Principally due to more space rented out. As a percentage of total revenues, this account represents 4% for years 2011 and 2010. Interest income – 24% decrease to P47 million from P63 million Mainly from lower investible bonds. to.01% in 2011 and 2% in 2010. As a percentage of total revenues, this account declined Cost of sales - 106% increase to P,2524 million from P1,225 million Mainly in relation to higher sales. As a percentage of total sales, this account represented 61% in 2011 and 45% in 2010. Cost of services - increase to P499 million from P460 million Principally from higher direct charges on broadband maintenance and depreciation. This account increased to12% in 2011 and 17% in 2010 as a percentage of total revenues.
47 Cost of real estate sold – 37% decrease to P95 million from P151 million The decrease was mainly in relation to lower sale of real estate. As a percentage of total revenues, this account decreased to 2% in 2011 and 6% in 2010. Cost of rentals – 3% increase to P39 million from P38 million Primarily from higher taxes. This account represents 1% as a percentage of total revenues for years 2011 and 2010. General and administrative expenses – 30% increase to P366 million from P281 million Principally due to higher provision for warranty and others. As a percentage of total revenues, this account decreased to 9% in 2011 from 10% in 2010. Selling and distribution costs – 22% increase to P278 million from P227 million Mainly from higher commissions, personnel and advertising costs. This account remained at 7% and 8% of total revenues for 2011 and 2010, respectively. Other operating income –net - 166% increase to P232 million from P87 million Primarily due to higher fair value gains on investment property. This account increased to 6% in 2011 from 3% in 2010 as a percentage of total revenues. Finance income – 58% increase to P61 million from P38 million Primarily due to the higher interest income from higher placements of the real estate segment, higher impairment reversals, interest income from financing the condominium units and foreign currency gains.. This account remained at 1% of total revenues for 2011 and 2010. Finance costs – P89 million from P88 million There was no material variance for this account Other gains - net –P24 million to P2.7 million Primarily due to income from common usage area. This account increased to 0.59% in 2011 from 0.10% in 2010 as a percentage of of total revenues. Income Statement Items (2010 vs. 2009) (Increase or decrease of 5% or more in the financial statements) Service revenue – 10% increase to P694 million from P630 million Mainly due to higher broadband revenues. As a percentage of total revenues, this account represents 26% and 27% in 2010 and 2009, respectively. Sale of goods – 44% increase to P1,622 million from P1,124 million
Page 1 and 2: SOLID GROUP INC. April 30, 2013 THE
Page 3 and 4: 12. Check whether the issuer: (a) h
Page 5 and 6: 1 PART I. BUSINESS AND GENERAL INFO
Page 7 and 8: 3 Solid Laguna Corporation (SLC) wa
Page 9 and 10: 5 Status of any-publicly announced
Page 11 and 12: 7 • Distributoship Agreement with
Page 13 and 14: 9 Major Risks involved in the Busin
Page 15 and 16: 11 reform. On August 13, 1997, Soli
Page 17 and 18: 13 The above lease contracts are re
Page 19 and 20: 15 The number of shareholders of re
Page 21 and 22: 17 Item 6. Management’s Discussio
Page 23 and 24: 19 2010 Revenue improved by 17% in
Page 25 and 26: 21 broadband segment posted P267 mi
Page 27 and 28: 23 Advances from related parties am
Page 29 and 30: 25 Other operating income amounted
Page 31 and 32: 27 Total assets reached P11,716 mil
Page 33 and 34: 29 Cost of rentals amounted to P38
Page 35 and 36: 31 Property, plant and equipment am
Page 37 and 38: 33 thumb of 2 : 1 by achieving a cu
Page 39 and 40: 35 vii. Causes for any Material Cha
Page 41 and 42: 37 Principally due to additional co
Page 43 and 44: 39 The decrease was mainly in relat
Page 45 and 46: 41 Non-current trade and other rece
Page 47 and 48: 43 Principally due to other compreh
Page 49: 45 Increase was due to higher trade
Page 53 and 54: 49 Mainly from higher commissions,
Page 55 and 56: 51 The overall scope of the audit w
Page 57 and 58: 53 Mr. Joseph Lim is the Founding C
Page 59 and 60: 55 executive officers Susan L. Tan
Page 61 and 62: 57 Common Lim, Elena S. 1,894 (dire
Page 63 and 64: 59 2. The Company has no transactio
Page 67 and 68: 62 SOLID GROUP, INC. INDEX TO FINAN
Page 69 and 70: 64 INDEX TO EXHIBITS Form 17-A No.
Page 71: 66 EXHIBIT 18 SUBSIDIARIES OF THE R
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- 2 - Notes 2012 2011 LIABILITIES A
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SOLID GROUP INC. AND SUBSIDIARIES C
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SOLID GROUP INC. AND SUBSIDIARIES C
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SOLID GROUP INC. AND SUBSIDIARIES N
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- 3 - (b) Mergers of Certain Subsid
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- 5 - 2.2 Adoption of New and Amend
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- 7 - (iii) Consolidation Standards
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- 9 - (vii) PAS 32 (Amendment), Fin
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- 11 - (c) PAS 32 (Amendment), Fina
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- 13 - 2.5 Financial Assets Financi
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- 15 - Non-compounding interest and
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- 17 - An item of property, plant a
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- 19 - If the business combination
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- 21 - (e) Sale of real estate - Re
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- 23 - Foreign currency gains and l
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- 25 - (b) Defined Contribution Pla
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- 27 - 2.23 Equity Capital stock re
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- 29 - (d) Distinction Between Inve
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- 31 - (d) Estimating Useful Lives
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- 33 - (d) (e) Distribution segment
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- 35 - The total segment balances p
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- 37 - The net cash flows attributa
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- 39 - Other receivables consist pr
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- 41 - A reconciliation of the carr
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- 43 - Borrowing costs incurred fro
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A reconciliation of the carrying am
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- 47 - The changes in the carrying
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- 49 - Information relating to sign
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- 51 - Other accrued expenses inclu
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- 53 - 19. OTHER INCOME 19.1 Other
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- 55 - These expenses are classifie
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- 57 - 22.2 Post-employment Benefit
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- 59 - For determination of the pos
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- 61 - The reconciliation of tax on
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- 63 - The net deferred tax liabili
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- 65 - 24. EQUITY 24.1 Capital Stoc
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- 67 - The Group’s outstanding re
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- 69 - 26.5 Advances to and from Re
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- 71 - 26.10 Key Management Personn
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- 73 - (d) Gain on Sale of Assets S
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- 75 - 28.9 Others As of December 3
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- 77 - The Group’s management con
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- 79 - 30. CATEGORIES AND FAIR VALU
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Supplementary Schedules SOLID GROUP
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Solid Group Inc. and Subsidiaries S
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SOLID GROUP INC. Schedule I Reconci
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SOLID GROUP INC. AND SUBSIDIARIES S
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PAS 33 Earnings per Share a PAS 34
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SEC Form 17-A: Annual Report - the solid group inc website

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