Annual Report 2012 - ecoWise Holdings Limited

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52ecoWise Holdings Limitedannual report 2012INDEPENDENT AUDITORS’ REPORTto the Members of ECOWISE HOLDINGS LIMITED (Registration No: 200209835C)OPINIONIn our opinion, the consolidated financial statements of the Group and the statement of financial position andstatement of changes in equity of the Company are properly drawn up in accordance with the provisions of the Actand Singapore Financial Reporting Standards so as to give a true and fair view of the state of affairs of the Groupand of the Company as at 31 October 2012 and of the results, changes in equity and cash flows of the Group andthe changes in equity of the Company for the reporting year ended on that date.REPORT ON OTHER LEGAL AND REGULATORY REQUIREMENTSIn our opinion, the accounting and other records required by the Act to be kept by the Company and by thosesubsidiaries incorporated in Singapore of which we are the independent auditors have been properly kept inaccordance with the provisions of the Act.RSM Chio Lim LLPPublic Accountants andCertified Public AccountantsSingapore11 January 2013Partner-in-charge: Chan Weng KeenEffective from reporting year ended 31 October 2012
ecoWise Holdings Limitedannual report 201253YEAR ENDED 31 OCTOBER 2012CONSOLIDATED STATEMENT OF COMPREHENSIVE INCOMENotes 2012 2011$’000 $’000Revenue 5 90,521 79,842Cost of Sales (72,811) (66,207)Gross Profit 17,710 13,635Other Items of IncomeFinance Income 6 39 4Dividend Income 7 411 1Other Credits 8 551 781Other Items of ExpensesMarketing and Distribution Expenses (3,831) (3,292)Administrative Expenses (9,218) (7,493)Finance Costs 9 (1,042) (875)Other Charges 8 (846) (201)Share of Results from Associates, Net of Tax (345) (287)Profit Before Income Tax 3,429 2,273Income Tax Expense 12 (1,711) (1,341)Profit for the Year 1,718 932Other Comprehensive Income/(Loss):Exchange Differences on Translating Foreign Operations, Net of Tax (588) (614)Effective Portion of Changes in Fair Value of Cash Flow Hedges 19 –Other Comprehensive Loss for the Year, Net of Tax (569) (614)Total Comprehensive Income for the Year 1,149 318Profit for the Year Attributable to:Owners of the Company 1,366 562Non-Controlling Interests 352 3701,718 932Total Comprehensive Income for the Year Attributable to:Owners of the Company 840 215Non-Controlling Interests 309 1031,149 318Earnings Per ShareBasic Earnings Per Share (Cents) 13 0.15 0.07Diluted Earnings Per Share (Cents) 13 0.15 0.07The accompanying notes form an integral part of these financial statements.
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