Notes to the Consolidated Financial Statements - Uni-Asia Finance ...

Realising A Sustainable Future
87
Notes to the Consolidated Financial Statements
Year ended 31 December 2009
28. RESERVES
(a)
Group
The amounts of the Group’s reserves and the movements therein for the current and prior years are presented in the
consolidated statement of changes in equity on page 50 of the financial statements.
(b)
Company
share Share Retained Exchange Total
Notes capital premium earnings reserve equity
US$’000 US$’000 US$’000 US$’000 US$’000
Balance at 1 January 2009 41,759 21,402 36,376 609 100,146
Loss for the year 25 – – (14,355) – (14,355)
Other comprehensive income – – – (609 ) (609)
Total comprehensive income – – (14,355) (609) (14,964)
Issuance of shares 16 8,352 9,330 – – 17,682
Balance at 31 December 2009 50,111 30,732 22,021 – 102,864
Balance at 1 January 2008 39,709 13,353 37,966 – 91,028
Profit for the year 25 – – 3,478 – 3,478
Other comprehensive income – – – 609 609
Total comprehensive income – – 3,478 609 4,087
Issuance of shares 16 2,050 8,049 – – 10,099
Dividends paid in respect of 2007 26 – – (5,068) – (5,068)
Balance at 31 December 2008 41,759 21,402 36,376 609 100,146
29. ACQUISITION OF SUBSIDIARIES
On 4 January 2008, the Group acquired additional shares of Capital Advisers via a share swap thereby increasing the Group’s
total share ownership in Capital Advisers from 44.8% to 92.7%. Based on the share price of the Company of SG$1.13 per share on
4 January 2008, the date of acquisition, total consideration of the 47.9% equity interest in Capital Advisers amounted to
US$10,099k and share premium was increased by US$8,049k accordingly.
On 3 November 2008, the Group acquired additional shares of Uni Ships and Management Limited (“Uni Ships”) thereby increasing
the Group’s total share ownership in Uni Ships from 30% to 100%.
Hence, Capital Advisers and Uni Ships were consolidated in 2008.