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

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48 Mainly due to higher volume of sales of the digital products. As a percentage of total revenues, this account represents 60% and 48% in 2010 and 2009, respectively. Rental income – 8% increase to P121 million from P112 million Primarily due to more space rented out. As a percentage of total revenues, this account represents 4% and 5% in 2010 and 2009, respectively. Sale of real estate – 43% decrease to P207 million from P360 million Principally due to lower sale of industrial lots. As a percentage of total revenues, this account decreased to 8% in 2010 from 16% in 2009. Interest income – 34% decrease to P63 million from P95 million Mainly from lower yield of the placements. Also in 2009, the Company earned interest income from the amortization of discounts on held to maturity financial assets versus none in 2010 as a result of the reclassification of these financial assets to available for sale. As a percentage of total revenues, this account declined to 2% in 2010 from 4% in 2009. Cost of sales, services and rentals amounted to P1,875 million in 2010, or an increase of 15% from P1,624 million in 2009 as discussed below: Cost of services - increase to P460 million from P458 million No material change for this account. This account increased to 17% in 2010 from 20% in 2009 as a percentage of total revenues. Cost of sales - 44% increase to P1,225 million from P849 million Mainly in relation to higher sales. As a percentage of total sales, this account represented 45% in 2010 from 37% in 2009. Cost of rentals – 15% increase to P38 million from P33 million Primarily from higher outside services. This account represents 1% as a percentage of total revenues for both years. Cost of real estate sold – 46% decrease to P151 million from P282 million The decrease was mainly in relation to lower sale of industrial lots. As a percentage of total revenues, this account decreased to 6% in 2010 from 12% in 2009. General and administrative expenses – 12% increase to P281 million from P250 million Principally due to higher provision for warranty and others. As a percentage of total revenues, this account decreased to 10% in 2010 from 11% in 2009. Selling and distribution costs – 134% increase to P227 million from P97 million
49 Mainly from higher commissions, personnel and advertising costs. This account remained at 4% of total revenues for both years. Other operating income –net - 283% increase to P87 million from P22 million Primarily due to higher fair value gains on investment property and return on retirement plan assets in 2010. This account increased to 3% in 2010 from 1% in 2009 as a percentage of total revenues. Finance income – 12% decrease to P38 million from P34 million Primarily due to reversal of impairment losses on trade and other receivables. This account remained at 1% of total revenues for both years. Finance costs – 26% decrease to P88 million from P118 million Mainly due to losses on sale of foreign currency denominated financial assets. This account decreased to 3% in 2010 from 5% in 2009 as a percentage of total revenues. Other gains - net – 71% increase to P3 million from P2 million Primarily due to income from common usage area. This account increased to 0.10% in 2010 from 0.07% in 2009 as a percentage of of total revenues. viii. Seasonal Aspects that had Material Effect on the Financial Condition or Results of Operations There are no significant seasonality in the Company’s business that materially affects financial condition or results of operations.
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 and 50: 45 Increase was due to higher trade
Page 51: 47 Cost of real estate sold - 37% d
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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