Sunny Tew

STATEMENTS OF CHANGES IN EQUITYFOR THE FINANCIAL YEAR ENDED 30 SEPTEMBER 2007 (Continued)The CompanyNoteSharecapitalSharepremiumCapitalreserveHedgingreserveAccumulatedprofitsTotalequity$ $ $ $ $ $Balance as at 1 October 2006 35,273,598 - 100,610 (3,896,228) 18,852,517 50,330,497Cash flow hedges-fair value gains 13&17 - - - 2,202,820 - 2,202,820Deferred tax asset on hedging reserve 14 - - - (493,867) - (493,867)Net income directly recognised in equity - - - 1,708,953 - 1,708,953Profit for the financial year - - - - 16,291,555 16,291,555Total recognised net income for the financial year - - - 1,708,953 16,291,555 18,000,508Issue of shares 15 42,923,090 - - - 42,923,090Gain from shares conversion 16 - - 2,426,486 - - 2,426,486Dividends 25 - - - - (7,413,784) (7,413,784)Balance as at 30 September 2007 78,196,688 - 2,527,096 (2,187,275) 27,730,288 106,266,797Balance as at 1 October 2005 35,243,232 30,366 - - 10,366,024 45,639,622Effect of adopting FRS 39 - - - (4,870,228) - (4,870,228)Deferred tax asset on hedging reserve 14 - - - 974,000 - 974,000Net income directly recognised in equity - - - (3,896,228) - (3,896,228)Profit for the financial year - - - - 110,679,392 10,679,392Total recognised net income for the financial year - - - ((3,896,228) 10,679,392 6,783,164Effect of Companies (Amendment) Act 2005 30,366 (30,366) - - - -Recognition of equity component ofconvertible loan 12&16 - - 100,610 - - 100,610Dividends 25 - - - - (2,192,899) (2,192,899)Balance as at 30 September 2006 35,273,598 - 100,610 (3,896,228) 18,852,517 50,330,497The accompanying notes form an integral part of these financial statements.HG METAL MANUFACTURING LIMITED ANNUAL REPORT 200739