Annual Report 2003 - Parkway Pantai

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FINANCIAL REVIEWPROFIT BEFORE INTEREST, TAX, DEPRECIATION ANDAMORTISATION (EBITDA)* BY BUSINESS SEGMENTS$ million80.060.040.064.662.820.00.0SINGAPOREHOSPITALS6.11.6INTERNATIONALHOSPITALS13.918.1HEALTHCARESERVICES1.2 6.9NON-CORESEGMENT20032002 ^* EBITDA exclude exchange differences and share of results of associates^ Prior year’s figures have been restated for comparative purposesEBITDA registered a 4% decline to S$85.8m largely due to poorer performance in the Healthcare Servicessegment, as well as lower contributions from the Non-Core segment.The Singapore Hospitals and International Hospitals segments posted 3% and 275% growth in EBITDArespectively. Growth in the Singapore Hospitals was driven by increased hospital admissions and revenueintensity, whilst the International Hospitals segment grew due to maiden contributions from Gleneagles JPMC,Brunei and improved performance at Gleneagles Medical Centre, Penang.The Healthcare Services segment was significantly affected by SARS. In addition, the segment’s aggressiveexpansion plans, which had been put in place prior to SARS, resulted in higher operating costs from upgradingfacilities, acquisition of new equipment and opening of new clinics.The Non-Core segment generated lower contributions, in line with the Group’s divestment strategy.16 Parkway Holdings Limited Annual Report 2003
FINANCIAL REVIEWPROFIT AFTER TAX AND MINORITY INTERESTS (PATMI)*BY BUSINESS SEGMENTS$ million40.030.032.535.120.010.00.02.8(1.0)2.9 4.9(4.6) (5.7)2003(10.0)2002 ^SINGAPOREHOSPITALSINTERNATIONALHOSPITALSHEALTHCARESERVICESNON-CORESEGMENT* Includes share of results of associates^ Prior year’s figures have been restated for comparative purposesPATMI improved marginally by 1% to S$33.6m in 2003 despite a slightly lower EBITDA. The improvement inPATMI was largely due to the lower financing costs offset by higher income tax expense due to write back ofoverprovision of taxation in 2002.Group BorrowingsAs at 31 December 2003, total borrowings for the Group were S$265m with S$31m in cash and bank balances.Total borrowings were S$290m with S$48m in cash and bank balances as at 31 December 2002.DividendsThe Group has proposed a final dividend of 4 cents per ordinary share, which is higher than the 3.5 cents perordinary share declared in the previous year. This is in addition to the interim dividend of 2 cents per ordinaryshare paid in September 2003.Parkway Holdings Limited Annual Report 200317
Page 1 and 2: PASSION FORPEOPLE &PROGRESSPARKWAY
Page 3 and 4: ABOUT USParkway Holdings Limited is
Page 5 and 6: Apollo Gleneagles Hospital, Kolkata
Page 7 and 8: This is the essence of our ‘Integ
Page 9 and 10: As the dominant player in the Singa
Page 11 and 12: In Healthcare Services, the Group i
Page 13 and 14: Prospects Looking ForwardThe Manage
Page 15 and 16: 2003 FINANCIAL REVIEWGROUP CONSOLID
Page 17: FINANCIAL REVIEWHospital Statistics
Page 21 and 22: MEDICAL EXCELLENCEAs a leading inte
Page 23 and 24: BUSINESS REVIEWMicro-multi-leaf col
Page 25 and 26: BUSINESS REVIEWParkway Hospitals in
Page 27 and 28: QUALITY SERVICEQuality service is o
Page 29 and 30: BUSINESS REVIEWREGIONAL MEDICAL REF
Page 31 and 32: INVESTMENT IN EXPERTISEOur healthca
Page 33 and 34: Mr Ang Guan SengNon-executive Direc
Page 35 and 36: SENIOR MANAGEMENTDr Lim Cheok PengM
Page 37 and 38: CORPORATE OFFICEPARKWAY HOLDINGS LI
Page 39 and 40: FINANCIALS 2003Directors’ Report
Page 41 and 42: Directors’ Interests (Cont’d)Ho
Page 43 and 44: Share Options (Cont’d)Parkway Emp
Page 45 and 46: Share Options (Cont’d)Parkway Sha
Page 47 and 48: STATEMENT BY DIRECTORSYear ended 31
Page 49 and 50: BALANCE SHEETSas at 31 December 200
Page 51 and 52: CONSOLIDATED STATEMENT OF CHANGES I
Page 53 and 54: CONSOLIDATED STATEMENT OF CASH FLOW
Page 55 and 56: NOTES TO THE FINANCIAL STATEMENTS31
Page 57 and 58: 2. Summary of Significant Accountin
Page 63 and 64: LeaseholdOfficePremisesS$’000Reno
Page 65 and 66: 5. Interests in Subsidiaries - The
Page 67 and 68: 5. Interests in Subsidiaries - The
Page 69 and 70:
5. Interests in Subsidiaries - The
Page 71 and 72:
5. Interests in Subsidiaries - The
Page 73 and 74:
7. Interests in Partnerships - The
Page 75 and 76:
11. Inventories - The GroupInventor
Page 77 and 78:
17. Other Payables2003S$’000The G
Page 79 and 80:
18. Interest-Bearing Borrowings (Co
Page 81 and 82:
19. Employee Benefits - The Group (
Page 83 and 84:
No. of optionsexercisable at1 Jan 2
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No. of optionsexercisable at1 Jan 2
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22. Share Capital - The Company (Co
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26. Directors’ Remuneration - The
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29. Earnings Per Share (Cont’d)(a
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31. Significant Related Party Trans
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34. AssociatesName of AssociatePrin
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34. Associates (Cont’d)Name of As
Page 99 and 100:
35. Financial Instruments (Cont’d
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36. Segment Reporting (Cont’d)(a)
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36. Segment Reporting (Cont’d)(b)
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2. Interested Person TransactionsIn
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4. Corporate Governance Statement (
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ANALYSIS OF SHAREHOLDINGSas at 17 F
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(b)That the Board of Directors of t
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PROXY FORMPARKWAY HOLDINGS LIMITED(
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CORPORATE OFFICEPARKWAY HOLDINGS LI
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