Report loss? Big sell tomorrow for sure.
Tomorrow sure kana shorted .
Gross profit is more than 3rd qtr, but net profit is half of 3rd qtr...
GENTING SINGAPORE PLC
(Incorporated in the Isle of Man No. 003846V)
1
FINANCIAL STATEMENTS FOR YEAR ENDED 31 DECEMBER 2010 PART I - INFORMATION REQUIRED FOR ANNOUNCEMENTS OF QUARTERLY (Q1, Q2 & Q3), HALF-YEAR AND FULL YEAR ANNOUNCEMENTS 1(a)(i) An income statement (for the group) together with a comparative statement for the corresponding period of the immediately preceding financial year.
CONSOLIDATED STATEMENT OF COMPREHENSIVE INCOME
Fourth quarter ended 31 December
Full year ended 31 December
2010 S$’000
2009 S$’000
Change %
2010 S$’000
2009 S$’000
Change %
Continuing operations
Revenue
788,512
13,420
> 100
2,753,341
49,463
> 100
Cost of sales
(403,682)
(6,519)
> 100
(1,374,330)
(25,126)
> 100
Gross profit
384,830
6,901
> 100
1,379,011
24,337
> 100
Other operating income
2,571
1,380
86
6,640
6,138
8 > 100
Fair value (loss)/gain on derivative financial instruments
-
(23,305)
100
25,448
(113,977)
> 100
Fair value loss on financial assets at fair value through profit or loss
(43)
(957)
(96)
(719)
(2,332)
(69)
Loss on discontinuance of cash flow hedge accounting using interest rate swaps
(61,571)
-
NM
(61,571)
-
NM
Administrative expenses
(46,369)
(71,091)
(35)
(191,089)
(130,053)
47
Selling and distribution expenses
(17,644)
(10,242)
72
(55,622)
(12,534)
> 100
Other operating expenses
(8,912)
(484)
> 100
(35,518)
(1,258)
> 100
Operating profit
252,862
(97,798)
> 100
1,066,580
(229,679)
> 100
Finance costs
(94,710)
(9,382)
> 100
(207,913)
(39,154)
> 100
Share of results of jointly controlled entities and associate entities
241
13,073
(98)
(332)
(8,947)
(96)
Profit/(loss) from ordinary activities before taxation
158,393
(94,107)
> 100
858,335
(277,780)
> 100
Taxation
(66,741)
(1,088)
> 100
(201,131)
(4,461)
> 100
Net profit/(loss) from continuing operations
91,652
(95,195)
> 100
657,204
(282,241)
> 100
Discontinued operations
Net (loss)/profit from discontinued operations
(241,978)
(6,504)
> 100
(619,445)
4,677
(> 100)
Net (loss)/profit for the financial period/year
(150,326)
(101,699)
(48)
37,759
(277,564)
> 100
GENTING SINGAPORE PLC
(Incorporated in the Isle of Man No. 003846V)
2
Fourth quarter ended 31 December
Full year ended 31 December
2010 S$’000
2009 S$’000
Change %
2010 S$’000
2009 S$’000
Change %
Other comprehensive income/(loss):
Cash flow hedges
- Fair value loss
(55,118)
(35,070)
57
(59,247)
(42,029)
41
- Reclassification
134,190
33,328
> 100
134,190
33,328
> 100
Share of fair value gain/(loss) on cash flow hedge of a jointly controlled entity
909
706
29
3,157
(255)
> 100 > 100
Fair value gain/(loss) on available-for-sale financial assets
8,199
(6,272)
> 100
40,568
15,751
> 100
Foreign currency exchange differences
(2,285)
(2,685)
(15)
(88,756)
93,848
(> 100)
Reclassification of foreign currency exchange differences on disposal of subsidiaries
371,077
-
NM
371,077
-
NM
Actuarial loss on retirement benefit liability
-
(3,889)
(100)
-
(3,889)
(100)
Other comprehensive income/(loss) for the financial period/year, net of tax
456,972
(13,882)
> 100
400,989
96,754
> 100
Total comprehensive income/(loss) for the financial period/year
306,646
(115,581)
> 100
438,748
(180,810)
> 100
Net profit/(loss) attributable to:
- equity holders of the Company
(150,326)
(101,700)
(48)
37,757
(277,565)
> 100
- non-controlling interest
-
1
-
2
1
100
(150,326)
(101,699)
(48)
37,759
(277,564)
> 100
Total comprehensive income/(loss) attributable to:
- equity holders of the Company
306,646
(115,582)
> 100
438,746
(180,811)
> 100
- non-controlling interest
-
1
-
2
1
100
306,646
(115,581)
> 100
438,748
(180,810)
> 100
Earnings/(loss) per share from continuing and discontinued operations attributable to equity holders of the Company
Fourth quarter ended 31 December
Full year ended 31 December
2010
2009
2010
2009
Basic
- Continuing operations
0.75 cents
(0.93) cents
5.41 cents
(2.76) cents
- Discontinued operations
(1.99) cents
(0.06) cents
(5.10) cents
0.04 cents
(1.24) cents
(0.99) cents
0.31 cents
(2.72) cents
Diluted
- Continuing operations
0.75 cents
(0.93) cents
5.39 cents
(2.76) cents
- Discontinued operations
(1.99) cents
(0.06) cents
(5.08) cents
0.04 cents
(1.24) cents
(0.99) cents
0.31 cents
(2.72) cents
GENTING SINGAPORE PLC
(Incorporated in the Isle of Man No. 003846V)
3
1(a)(ii) Included in net profit/(loss) for the financial period/year are the following charges and credits:
Fourth quarter ended 31 December
Full year ended 31 December
2010
2009
Change
2010
2009
Change
S$’000
S$’000
%
S$’000
S$’000
%
Continuing Operations
(Charges)/credits
Property, plant and equipment (“PPE”):
- Depreciation
(59,605)
(2,146)
> 100
(222,512)
(5,727)
> 100
- Net (loss)/gain on disposal
(3)
(2)
50
(92)
8
(> 100)
- Written off
(4,247)
(5)
> 100
(24,041)
(10)
> 100
Amortisation of
- intangible assets
(3,687)
(138)
> 100
(14,171)
(151)
> 100
- borrowing costs
(54,069)
(352)
> 100
(63,500)
(858)
> 100
Interest expenses
(40,641)
(9,382)
> 100
(144,413)
(39,154)
> 100
Share based payment
(5,163)
(3,588)
44
(14,686)
(9,548)
54
Impairment loss on
- trade receivables
(28,032)
-
NM
(81,948)
-
NM
- amount due from jointly controlled entity (“JCE”)
-
-
NM
(2,268)
-
NM
Net bad debts written off
-
(104)
(100)
-
(104)
(100)
Provision for retirement gratuities
(384)
6
(> 100)
(977)
(222)
> 100
Fair value gain/(loss) on derivative financial instruments
-
(23,305)
(100)
25,448
(113,977)
> 100
Fair value loss on financial assets at fair value through profit or loss
(43)
(957)
(96)
(719)
(2,332)
(69)
Loss on discontinuance of cash flow hedge
accounting using interest rate swaps (“IRS”)
(61,571)
-
NM
(61,571)
-
NM
Net exchange (losses)/ gains
(4,662)
109
(> 100)
(9,113)
2,485
(> 100)
Dividend income
44
42
5
2,115
155
> 100
Interest income
2,540
1,241
> 100
6,534
3,560
84
Overprovision of taxation
- current tax
319
65
> 100
80
89
(10)
- deferred tax
505
5
> 100
424
12
> 100
GENTING SINGAPORE PLC
(Incorporated in the Isle of Man No. 003846V)
4
Fourth quarter ended 31 December
Full year ended 31 December
2010
2009
Change
2010
2009
Change
S$’000
S$’000
%
S$’000
S$’000
%
Discontinued Operations
(Charges)/credits
Property, plant and equipment (“PPE”):
- Depreciation
(1,323)
(8,798)
(85)
(19,054)
(31,958)
(40)
- Net gain on disposal
-
-
NM
58
11
> 100
- Written off
-
(164)
(100)
-
(164)
(100)
Amortisation of borrowing costs
-
(90)
(100)
(258)
(364)
(29)
Loss on disposal of subsidiaries
(238,289)
-
NM
(238,289)
-
NM
Interest expenses
(256)
(4,194)
(94)
(7,532)
(17,094)
(56)
Impairment loss on intangible assets
-
-
NM
(478,082)
-
NM
Net bad debts recovered/(written off)
326
2,032
(84)
(14,558)
3,397
(> 100)
Fair value gain on derivative financial instruments
-
4,858
(100)
3,009
5,719
(47)
Net exchange (losses)/ gains
-
(1,124)
(100)
(1,643)
1,898
(> 100)
Interest income
-
18
(100)
86
212
(59)
(Under)/overprovision of taxation
- current tax
-
(228)
(100)
-
(228)
(100)
- deferred tax
-
-
NM
-
3,057
(100)
NM: Not meaningful
GENTING SINGAPORE PLC
(Incorporated in the Isle of Man No. 003846V)
5
1(b)(i) Balance sheets (for the issuer and group), together with a comparative statement as at the end of the immediately preceding financial year.
STATEMENTS OF FINANCIAL POSITION
Group
Company
31/12/2010
31/12/2009
31/12/2010
31/12/2009
S$’000
S$’000
S$’000
S$’000
ASSETS
Non-current assets
Property, plant and equipment
5,333,250
4,538,192
-
97
Intangible assets
132,845
1,400,683
-
-
Interests in associate and jointly controlled entities
53,206
46,264
-
-
Interests in subsidiaries
-
-
2,193,676
3,642,706
Deferred tax assets
733
260
-
-
Other receivables
14,621
-
-
-
Financial assets at fair value through profit or loss
1,227
2,054
-
-
Available-for-sale financial assets
4,736
5,909
-
-
5,540,618
5,993,362
2,193,676
3,642,803
Current assets
Inventories
52,572
13,483
-
-
Trade and other receivables
593,983
126,762
108,794
33,936
Tax recoverable
269
387
-
130
Financial assets at fair value through profit or loss
1,687
1,791
-
-
Available-for-sale financial assets
111,817
81,020
-
-
Restricted cash
65,500
73,019
-
-
Deposits, cash and bank balances
3,621,129
2,767,737
2,283,936
1,687,595
4,446,957
3,064,199
2,392,730
1,721,661
Less: Current liabilities
Trade and other payables
1,144,499
539,749
6,621
11,027
Short term borrowings
273,613
96,761
-
1
Income tax liabilities
7,701
4,349
573
-
Derivative financial instruments
-
169,995
-
110,528
1,425,813
810,854
7,194
121,556
Net current assets
3,021,144
2,253,345
2,385,536
1,600,105
Total assets less current liabilities
8,561,762
8,246,707
4,579,212
5,242,908
GENTING SINGAPORE PLC
(Incorporated in the Isle of Man No. 003846V)
6
1(b)(ii) Aggregate amount of group’s borrowings and debt securities * These borrowings are effectively secured against leased assets certain property, plant and equipment, intangible assets – licences and certain inventories of the integrated resort in Singapore.
Group
Company
31/12/2010
31/12/2009
31/12/2010
31/12/2009
S$’000
S$’000
S$’000
S$’000
EQUITY AND NON-CURRENT LIABILITIES
Share capital
5,727,361
5,207,514
5,727,361
5,207,514
Other reserves
40,000
(375,815)
37,022
22,334
Accumulated losses
(659,791)
(697,548)
(1,185,392)
(417,077)
Attributable to equity holders of the Company
5,107,570
4,134,151
4,578,991
4,812,771
Non-controlling interest
8
6
-
-
Total equity
5,107,578
4,134,157
4,578,991
4,812,771
Non-current liabilities
Long term borrowings
3,238,551
3,654,084
-
430,034
Derivative financial instruments
-
27,924
-
-
Deferred tax liabilities
191,245
341,802
-
-
Retirement benefit liability
-
11,713
-
-
Provision for retirement gratuities
2,518
1,509
221
103
Other long term liabilities
21,870
75,518
-
-
3,454,184
4,112,550
221
430,137
Total equity and non-current liabilities
8,561,762
8,246,707
4,579,212
5,242,908
As at 31 December 2010
As at 31 December 2009
Secured *
Unsecured
Total
Secured *
Unsecured
Total
S$’000
S$’000
S$’000
S$’000
S$’000
S$’000
Amount repayable
- one year or less, or on demand
273,613
-
273,613
68
96,693
96,761
- after one year
3,238,551
-
3,238,551
3,040,477
613,607
3,654,084
3,512,164
-
Post Reply
