notice of annual general meeting - HI-P Singapore Pte Ltd

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consolidated cash flow statement (cont’d) (Amounts expressed in Singapore dollars) B. Purchase of fixed assets 44. Hi-P International Limited Annual Report 2005 GROUP 2005 2004 $’000 $’000 Current year additions to fixed assets 86,220 63,226 Less: Payable to creditors (22,505) (23,442) 63,715 39,784 Payments for prior year purchase of fixed assets 9,464 20,037 Net cash outflow for purchase of fixed assets 73,179 59,821 The accounting policies and explanatory notes on pages 45 through 91 form an integral part of the financial statements. 300306_Hi-P_Financial.indd 44 3/30/06 11:01:55 AM
notes to the financial statements 31 December 2005 (Amounts expressed in Singapore dollars) 1. Corporate information Hi-P International Limited (“the Company”) is a limited liability company incorporated in Singapore and it is listed on the Singapore Exchange Securities Trading Limited. The registered office of the Company is located at 11 International Business Park, Jurong East, Singapore 609926. The principal activities of the Group are design and fabrication of mold (“MDF”), precision plastic injection molding (“PPIM”), assembly, provision of ancillary value-added services (mainly surface finishing services) and precision metal stamping. The principal activities of the subsidiaries are as shown in Note 11 to the financial statements. There have been no significant changes in the nature of these activities during the financial year. 2. Significant accounting policies 2.1 Basis of preparation of financial statements The financial statements have been prepared in accordance with Singapore Financial Reporting Standards (“FRS”) as required by the Companies Act. The financial statements have been prepared on a historical cost basis, except for those as disclosed in the accounting policies below. The financial statements are presented in Singapore dollars and all values are rounded to the nearest thousand ($’000) except when otherwise indicated. 2.2 Changes in accounting policies The accounting policies have been consistently applied by the Group and the Company and are consistent with those used in the previous financial year, except for the changes in accounting policies discussed below. a) Adoption of new FRS On 1 January 2005, the Group and the Company adopted the following standards mandatory for annual financial periods beginning on or after 1 January 2005. • FRS 39, Financial Instruments: Recognition and Measurement • FRS 103, Business Combinations, including amendments to FRS 36 (revised), Impairment of Assets and FRS 38 (revised), Intangible Assets • FRS 105, Non-Current Assets Held For Sale and Discontinued Operations i) FRS 39, Financial Instruments: Recognition and Measurement The Group and the Company had adopted FRS 39 prospectively on 1 January 2005. At that date, financial assets within the scope of FRS 39 were classified as either financial assets at fair value through profit or loss, loans and receivables, held-to-maturity investments or available-for-sale financial assets, as appropriate. Financial assets that were classified as financial assets at fair value through profit or loss and available-for-sale financial assets were measured at fair value while loans and receivables and held-to-maturity investments were measured at amortised cost using the effective interest rate method. Hi-P International Limited .45 Annual Report 2005 300306_Hi-P_Financial.indd 45 3/30/06 11:01:55 AM
Page 1 and 2: Hi-P INTERNATIONAL LIMITED Surmount
Page 3 and 4: Founded in 1980, Hi-P International
Page 5 and 6: AWARDS • Ranked 41 st out of Sing
Page 7 and 8: In 2005, Hi-P International Limited
Page 9 and 10: interview with executive chairman Q
Page 11 and 12: 800 700 600 500 400 300 200 100 0 R
Page 13 and 14: Guadalajara, Mexico Chicago, USA bu
Page 15 and 16: $M 25 20 15 10 5 0 2005 was a year
Page 17 and 18: 1. MR YAO HSIAO TUNG is our Executi
Page 19 and 20: financial contents 18 . HI-P group
Page 21 and 22: corporate governance report Hi-P In
Page 23 and 24: corporate governance report (cont
Page 29 and 30: management’s discussion and analy
Page 35 and 36: directors’ report (cont’d) Dire
Page 37 and 38: directors’ report (cont’d) Audi
Page 39 and 40: auditors’ report to the Members o
Page 41 and 42: alance sheets as at 31 December 200
Page 43 and 44: consolidated statement of changes i
Page 45: (Amounts expressed in Singapore dol
Page 49 and 50: notes to the financial statements (
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notes to the financial statements (
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HI-P INTERNATIONAL LIMITED SHAREHOL
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notice of annual general meeting (c
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HI-P INTERNATIONAL LIMITED Company
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EXECUTIVE DIRECTORS Yao Hsiao Tung
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