O TTO M ARINE L IMITED - Microsoft Internet Explorer - SGX

A. Consolidated Balance Sheets
As at December 31, 2007, 2006 and 2005
OTTO MARINE LIMITED AND ITS SUBSIDIARIES
Note 2007 2006 2005
$’000 $’000 $’000
ASSETS
Current assets
Cash and bank balances ................................... 6 18,186 14,238 1,285
Pledged deposits ........................................ 6 195,718 40,969 138
Trade receivables. ....................................... 7 25,538 4,239 20,430
Gross amount due from customers for contract work ............. 8 94,300 27,418 —
Deposits, prepayments and other receivables. ................... 9 61,757 21,803 7,675
Inventories . . .......................................... 10 81,465 25,769 21,373
Total current assets ......................................
Non-current assets
476,964 134,436 50,901
Investment in associates ................................... 12 4,709 — —
Available-for-sale investments .............................. 13 4,080 — —
Goodwill .............................................. 14 5,101 922 —
Property, plant and equipment .............................. 15 91,011 18,527 11,717
Total non-current assets ................................... 104,901 19,449 11,717
Total assets. ........................................... 581,865 153,885 62,618
LIABILITIES AND EQUITY
Current liabilities
Loans and overdraft ...................................... 16 136,847 38,237 25,754
Trade payables ......................................... 17 168,765 39,594 20,619
Gross amount due to customers for contract work. ............... 8 97,341 35,070 277
Other payables ......................................... 18 6,561 6,210 3,805
Deferred gain — short-term ................................ 19 482 — —
Current portion of finance leases ............................ 20 80 25 —
Income tax payable ...................................... 2,122 905 513
Total current liabilities ....................................
Non-current liabilities
412,198 120,041 50,968
Loans and overdraft ...................................... 16 47,516 — —
Deferred gain — long-term ................................ 19 12,619 — —
Finance leases .......................................... 20 347 170 —
Loan from related parties .................................. 21 51,381 27,872 52,170
Total non-current liabilities ................................
Capital, reserves and minority interests
111,863 28,042 52,170
Issued capital ....................................... 22 32,500 32,500 500
Capital reserve ...................................... 23 1,656 1,162 294
Translation reserve ................................... (5,249) (1,158) 13
Accumulated profits (losses) ............................ 32,904 (9,023) (29,223)
Equity attributable to equity holders of the Company ........ 61,811 23,481 (28,416)
Minority interests .................................... 24 (4,007) (17,679) (12,104)
Total equity (capital deficiency) ........................... 57,804 5,802 (40,520)
Total liabilities and equity (capital deficiency). ................ 581,865 153,885 62,618
See accompanying notes to financial statements.
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