GOLDEN AGRI-RESOURCES LTD Revenue | Ytd Sept 2016 US$'000 | (Restated) Ytd Sept 2015 US$'000 | Change % | 3rd Qtr 2016 US$'000 | (Restated) 3rd Qtr 2015 US$'000 | Change % |
5,070,979 | 4,958,342 | 2.3 | 1,835,602 | 1,573,953 | 16.6 | |
Gross Profit | 706,633 | 735,585 | (3.9) | 281,006 | 277,291 | 1.3 |
EBITDA1 | 392,980 | 401,485 | (2.1) | 165,216 | 128,172 | 28.9 |
Net profit/(loss) attributable to owners of the Company | 353,338 | (9,199) | n.m. | 219,725 | (16,406) | n.m. |
Earnings/(Loss) per share (USD cents) | 2.77 | (0.07) | n.m. | 1.73 | (0.13) | n.m. |
Notes:
Earnings before tax, non-controlling interests, interest on borrowings, depreciation and amortisation, net gain/(loss) from changes in fair value of biological assets and foreign exchange gain/(loss).
Certain comparative figures have been restated to account for retrospective adjustments arising from the adoption of amended IAS 16 and IAS 41. Please refer to Note 5 for further details.
n.m. - not meaningful.
1(a) An income statement and statement of comprehensive income for the group together with a comparative statement for the corresponding period of the immediately preceding financial year
UNAUDITED CONSOLIDATED INCOME STATEMENT FOR THE PERIOD ENDED 30 SEPTEMBER 2016 | ||||||||
Ytd Sept 2016 US$'000 | (Restated) Ytd Sept 2015 US$'000 | Change % | 3rd Qtr 2016 US$'000 | (Restated) 3rd Qtr 2015 US$'000 | Change % | |||
Revenue | 5,070,979 | 4,958,342 | 2.3 | 1,835,602 | 1,573,953 | 16.6 | ||
Cost of sales | (4,364,346) | (4,222,757) | 3.4 | (1,554,596) | (1,296,662) | 19.9 | ||
Gross profit | 706,633 | 735,585 | (3.9) | 281,006 | 277,291 | 1.3 | ||
Operating expenses | ||||||||
Selling expenses | (380,661) | (385,035) | (1.1) | (122,746) | (160,788) | (23.7) | ||
General and administrative expenses | (227,498) | (219,125) | 3.8 | (79,207) | (72,184) | 9.7 | ||
Total operating expenses | (608,159) | (604,160) | 0.7 | (201,953) | (232,972) | (13.3) | ||
Operating profit | 98,474 | 131,425 | (25.1) | 79,053 | 44,319 | 78.4 | ||
Other income/(expenses) | ||||||||
Financial income | 18,362 | 24,431 | (24.8) | 6,104 | 7,831 | (22.1) | ||
Financial expenses | (96,351) | (100,150) | (3.8) | (31,903) | (35,569) | (10.3) | ||
Share of results of associated companies, net of tax | 1,061 | (236) | n.m. | 1,222 | (67) | n.m. | ||
Share of results of joint ventures, net of tax | 6,460 | 5,729 | 12.8 | 1,094 | 1,336 | (18.1) | ||
Foreign exchange gain/(loss), net | 50,473 | (98,939) | n.m. | 19,833 | (45,434) | n.m. | ||
Other operating income/(expenses), net | 64,205 | 19,711 | 225.7 | 40,950 | (8,088) | n.m. | ||
44,210 | (149,454) | n.m. | 37,300 | (79,991) | n.m. | |||
Profit/(Loss) before tax | 142,684 | (18,029) | n.m. | 116,353 | (35,672) | n.m. | ||
Tax | 215,116 | 8,733 | n.m. | 104,272 | 19,849 | 425.3 | ||
Profit/(Loss) for the period | 357,800 | (9,296) | n.m. | 220,625 | (15,823) | n.m. | ||
Attributable to: | ||||||||
Owners of the Company | 353,338 | (9,199) | n.m. | 219,725 | (16,406) | n.m. | ||
Non-controlling interests | 4,462 | (97) | n.m. | 900 | 583 | 54.4 | ||
357,800 | (9,296) | n.m. | 220,625 | (15,823) | n.m. | |||
Notes:
n.m. - not meaningful.
Certain comparative figures have been restated to account for retrospective adjustments arising from the adoption of amended IAS 16 and IAS 41. Please refer to Note 5 for further details.
Ytd Sept 2016 US$' 0 0 0 | (Restated) Ytd Sept 2015 US$' 0 0 0 | 3rd Qtr 2016 US$' 0 0 0 | (Restated) 3rd Qtr 2015 US$' 0 0 0 | ||||
Profit/(Loss) for the period | 357,800 | (9,296) | 220,625 | (15,823) | |||
Other comprehensive income/(loss): | |||||||
Items that may be reclassified subsequently to profit or loss: | |||||||
Foreign currency translation differences on consolidation | (2,229) | (10,486) | (279) | (7,822) | |||
Share of other comprehensive income/(loss) of a joint venture | 1,579 | (3,547) | 369 | (1,998) | |||
Changes in fair value of cash flow hedges | 1,493 | (1,760) | 123 | (1,178) | |||
Changes in fair value of available-for-sale financial assets | 1,787 | 7,282 | 1,368 | 2,667 | |||
Equity portion of bonds | - | (152) | - | 112 | |||
2,630 | (8,663) | 1,581 | (8,219) | ||||
Items that will not be reclassified subsequently to profit or loss: | |||||||
Actuarial (loss)/gain on post-employment benefits | (13,714) | 441 | (3,156) | - | |||
Other comprehensive loss, net of tax | (11,084) | (8,222) | (1,575) | (8,219) | |||
Total comprehensive income/(loss) for the period, net of tax | 346,716 | (17,518) | 219,050 | (24,042) | |||
Total comprehensive income/(loss) attributable to: | |||||||
Owners of the Company | 342,661 | (16,942) | 218,216 | (24,145) | |||
Non-controlling interests | 4,055 | (576) | 834 | 103 | |||
346,716 | (17,518) | 219,050 | (24,042) | ||||
Ytd Sept 2016 US$' 0 0 0 | (Restated) Ytd Sept 2015 US$' 0 0 0 | Change % | 3rd Qtr 2016 US$' 0 0 0 | (Restated) 3rd Qtr 2015 US$' 0 0 0 | Change % | |
Earnings before tax, non- controlling interests, interest on borrowings, depreciation and amortisation, net gain/(loss) from changes in fair value of biological assets and foreign exchange gain/(loss) ("EBITDA") | 392,980 | 401,485 | (2.1) | 165,216 | 128,172 | 28.9 |
Interest on borrowings | (95,127) | (97,868) | (2.8) | (32,191) | (34,848) | (7.6) |
Depreciation and amortisation | (256,113) | (225,992) | 13.3 | (81,827) | (77,184) | 6.0 |
Net gain/(loss) from changes in fair value of biological assets | 50,471 | 3,285 | 1,436.4 | 45,322 | (6,378) | n.m. |
Foreign exchange gain/(loss), net | 50,473 | (98,939) | n.m. | 19,833 | (45,434) | n.m. |
Profit/(Loss) before tax | 142,684 | (18,029) | n.m. | 116,353 | (35,672) | n.m. |
Notes:
Certain comparative figures have been restated to account for retrospective adjustments arising from the adoption of amended IAS 16 and IAS 41. Please refer to Note 5 for further details.
n.m. - not meaningful.
1(b)(i) A statement of financial position (for the issuer and group), together with a comparative statement as at the end of the immediately preceding financial year
UNAUDITED STATEMENTS OF FINANCIAL POSITION | ||||||||||
Group | Company | |||||||||
(Restated) | (Restated) | |||||||||
As at | As at | As at | As at | As at | ||||||
30/9/2016 | 31/12/2015 | 31/12/2014 | 30/9/2016 | 31/12/2015 | ||||||
US$'000 | US$'000 | US$'000 | US$'000 | US$'000 | ||||||
Assets | ||||||||||
Current Assets | ||||||||||
Cash and cash equivalents | 122,929 | 243,616 | 329,560 | 72 | 95 | |||||
Short-term investments | 265,445 | 258,882 | 261,166 | - | - | |||||
Trade receivables | 448,968 | 462,152 | 525,816 | - | - | |||||
Other current assets (note (a)) | 1,041,583 | 959,867 | 889,756 | 39 | 9 | |||||
Inventories | 950,242 | 740,918 | 850,723 | - | - | |||||
2,829,167 | 2,665,435 | 2,857,021 | 111 | 104 | ||||||
Non-Current Assets | ||||||||||
Long-term receivables and assets (note (b)) | 232,143 | 202,870 | 360,593 | - | - | |||||
Long-term investments | 827,173 | 815,252 | 804,318 | 333,300 | 323,550 | |||||
Subsidiary companies | - | - | - | 2,040,474 | 2,097,665 | |||||
Associated companies | 10,417 | 9,556 | 8,431 | - | - | |||||
Joint ventures | 62,980 | 55,771 | 56,167 | - | - | |||||
Investment properties | 1,041 | 1,113 | 1,227 | - | - | |||||
Property, plant and equipment | 2,856,615 | 2,842,292 | 2,551,664 | - | - | |||||
Bearer plants | 1,115,781 | 1,227,784 | 1,227,976 | - | - | |||||
Deferred tax assets | 266,551 | 56,523 | 27,036 | - | - | |||||
Intangible assets | 165,137 | 159,114 | 160,706 | - | - | |||||
5,537,838 | 5,370,275 | 5,198,118 | 2,373,774 | 2,421,215 | ||||||
Total Assets | 8,367,005 | 8,035,710 | 8,055,139 | 2,373,885 | 2,421,319 | |||||
Note: Certain comparative figures have been restated and reclassified to account for retrospective adjustments arising from the adoption of amended IAS 16 and IAS 41. Please refer to Note 5 for further details.
UNAUDITED STATEMENTS OF FINANCIAL POSITION (cont'd) | ||||||||||
Group | Company | |||||||||
(Restated) | (Restated) | |||||||||
As at | As at | As at | As at | As at | ||||||
30/9/2016 | 31/12/2015 | 31/12/2014 | 30/9/2016 | 31/12/2015 | ||||||
US$'000 | US$'000 | US$'000 | US$'000 | US$'000 | ||||||
Liabilities and Equity | ||||||||||
Current Liabilities | ||||||||||
Short-term loans | 1,200,404 | 1,366,102 | 1,251,081 | - | - | |||||
Bonds and notes payable | 178,312 | 80,645 | 389,882 | - | - | |||||
Trade payables | 621,228 | 612,040 | 543,197 | - | - | |||||
Other payables (note(c)) | 423,368 | 254,275 | 286,720 | 30,949 | 31,511 | |||||
Taxes payable | 18,983 | 15,422 | 29,554 | - | - | |||||
Obligations under finance leases | 121 | 114 | 132 | - | - | |||||
2,442,416 | 2,328,598 | 2,500,566 | 30,949 | 31,511 | ||||||
Non-Current Liabilities | ||||||||||
Obligations under finance leases | - | 99 | 269 | - | - | |||||
Bonds and notes payables | 920,225 | 1,085,963 | 1,040,087 | - | - | |||||
Long-term borrowings | 705,077 | 512,462 | 387,250 | - | - | |||||
Deferred tax liabilities | 148,891 | 238,449 | 257,461 | - | - | |||||
Long-term payables and liabilities | 101,713 | 120,741 | 76,691 | - | - | |||||
1,875,906 | 1,957,714 | 1,761,758 | - | - | ||||||
Total Liabilities | 4,318,322 | 4,286,312 | 4,262,324 | 30,949 | 31,511 | |||||
Equity Attributable to Owners of the Company | ||||||||||
Issued capital | 320,939 | 320,939 | 320,939 | 320,939 | 320,939 | |||||
Share premium | 1,216,095 | 1,216,095 | 1,216,095 | 1,850,965 | 1,850,965 | |||||
Treasury shares | (31,726) | (31,726) | - | (31,726) | (31,726) | |||||
Other paid-in capital | 184,318 | 184,318 | 184,318 | - | - | |||||
Other reserves | ||||||||||
Option reserve | 31,471 | 31,471 | 31,469 | 31,471 | 31,471 | |||||
Currency translation reserve | (3,208) | (2,795) | 12,293 | - | - | |||||
Fair value reserve | 4,079 | 2,292 | - | - | - | |||||
PRC statutory reserve | 3,820 | 3,820 | 3,820 | - | - | |||||
Hedging reserve | 121 | (1,372) | (632) | - | - | |||||
Other reserve | 16,526 | 30,070 | 19,969 | - | - | |||||
52,809 | 63,486 | 66,919 | 31,471 | 31,471 | ||||||
Retained earnings | 2,262,618 | 1,956,742 | 1,963,323 | 171,287 | 218,159 | |||||
4,005,053 | 3,709,854 | 3,751,594 | 2,342,936 | 2,389,808 | ||||||
Non-Controlling Interests | 43,630 | 39,544 | 41,221 | - | - | |||||
Total Equity | 4,048,683 | 3,749,398 | 3,792,815 | 2,342,936 | 2,389,808 | |||||
Total Liabilities and Equity | 8,367,005 | 8,035,710 | 8,055,139 | 2,373,885 | 2,421,319 | |||||
Group | Company | ||||||
(Restated) | |||||||
As at | As at | As at | As at | ||||
30/9/2016 3 | 1/12/2015 | 30/9/2016 | 31/12/2015 | ||||
US$'000 | US$'000 | US$'000 | US$'000 | ||||
Prepaid expenses | 43,838 | 22,463 | 38 | 8 | |||
Prepaid taxes, net | 229,517 | 369,442 | - | - | |||
Deposits and advances to suppliers | 381,072 | 291,086 | - | - | |||
Biological assets | 101,847 | 51,375 | - | - | |||
Derivative receivable | 7,261 | - | - | - | |||
Others | 91,217 | 87,194 | 1 | 1 | |||
854,752 | 821,560 | 39 | 9 | ||||
Receivable from joint ventures | 186,776 | 138,174 | - | - | |||
Receivable from related parties | 55 | 133 | - | - | |||
1,041,583 | 959,867 | 39 | 9 | ||||
-
Other Current Assets
Group
Company
As at
As at
As at
As at
30/9/2016 3
1/12/2015
30/9/2016
31/12/2015
US$'000
US$'000
US$'000
US$'000
Loans to joint ventures
21,238
28,344
-
-
Tax recoverable
134,008
93,956
-
-
Advances for project plasma plantations
23,356
17,189
-
-
Advances for projects
24,058
36,832
-
-
Land clearing
2,816
1,564
-
-
Advances for investments in land
2,759
2,759
-
-
Others
23,908
22,226
-
-
232,143
202,870
-
-
-
Long-Term Receivables and Assets
Group
Company
As at
As at
As at
As at
30/9/2016 3
1/12/2015
30/9/2016
31/12/2015
US$'000
US$'000
US$'000
US$'000
Advances and deposits from customers
99,858
27,747
-
-
Accrued expenses
71,325
49,913
253
275
Payable to third parties
213,415
153,674
-
-
Others
34,688
18,540
5
5
419,286
249,874
258
280
Payable to related parties
4,082
4,401
30,691
31,231
423,368
254,275
30,949
31,511
- Other Payables
1(b)(ii) Aggregate amount of group's borrowings and debt securities
As at 30/9/2016 | As at 31/12/2015 | |||||
US$'000 | US$'000 | |||||
Secured | Unsecured | Total | Secured | Unsecured | Total | |
Amount repayable in one year or less, or on demand | 848,755 | 530,082 | 1,378,837 | 1,009,025 | 437,836 | 1,446,861 |
Amount repayable after one year | 705,077 | 920,225 | 1,625,302 | 512,561 | 1,085,963 | 1,598,524 |
Total | 1,553,832 | 1,450,307 | 3,004,139 | 1,521,586 | 1,523,799 | 3,045,385 |
Details of any collateral
The secured borrowings are collaterised by certain cash and cash equivalents, short-term investments, inventories, trade receivables, bearer plants, biological assets and property, plant and equipment.
1(c) A statement of cash flows (for the group), together with a comparative statement for the corresponding period of the immediately preceding financial year
UNAUDITED CONSOLIDATED STATEMENT OF CASH FLOWS FOR THE PERIOD ENDED 30 SEPTEMBER 2016 | ||||
(Restated) | (Restated) | |||
Ytd Sept | Ytd Sept | 3rd Qtr | 3rd Qtr | |
2016 | 2015 | 2016 | 2015 | |
US$'000 | US$'000 | US$'000 | US$'000 | |
Cash flows from operating activities | ||||
Profit/(Loss) before tax | 142,684 | (18,029) | 116,353 | (35,672) |
Adjustments for: | ||||
Depreciation | 254,565 | 224,808 | 81,200 | 76,795 |
Amortisation | 1,548 | 1,184 | 627 | 389 |
Net (gain)/loss from changes in fair value of biological assets | (50,471) | (3,285) | (45,322) | 6,378 |
Unrealised foreign exchange (gain)/loss, net | (23,149) | 10,300 | (10,919) | (3,075) |
Share of results of associated companies, net of tax | (1,061) | 236 | (1,222) | 67 |
Share of results of joint ventures, net of tax | (6,460) | (5,729) | (1,094) | (1,336) |
(Gain)/Loss on disposal of property, plant and equipment | (594) | 642 | (370) | 52 |
Property, plant and equipment written off | 833 | 921 | 238 | 379 |
Bearer plants written off | 355 | - | 18 | - |
Allowance for/(Write-back of) impairment loss on: Inventories, net | 61 | (1,000) | (111) | (2,330) |
Trade receivables, net | (71) | (88) | (92) | (72) |
Other receivables, net | (60) | - | (60) | - |
Changes in fair value of financial assets at fair value through profit or loss | (1,516) | 1,902 | 3,696 | 8,208 |
Gain on disposal of a subsidiary | (97) | - | (97) | - |
Interest income | (18,362) | (24,431) | (6,104) | (7,831) |
Interest expense | 95,127 | 97,868 | 32,191 | 34,848 |
Operating cash flow before working capital changes | 393,332 | 285,299 | 168,932 | 76,800 |
Changes in operating assets and liabilities: | ||||
Trade receivables | 13,237 | 64,044 | 27,938 | 33,604 |
Other current assets | (167,209) | (18,606) | 6,311 | 129,745 |
Inventories | (209,368) | 105,233 | (61,137) | 10,857 |
Trade payables | 9,188 | 64,718 | 64,167 | (117,825) |
Other payables | 136,189 | 155,975 | 102,335 | (22,093) |
Cash generated from operations | 175,369 | 656,663 | 308,546 | 111,088 |
Interest received | 13,600 | 15,181 | 6,516 | 5,443 |
Interest paid | (87,019) | (78,713) | (28,929) | (23,635) |
Tax refund/(paid) | 49,297 | (109,169) | (9,585) | (69,220) |
Net cash generated from operating activities | 151,247 | 483,962 | 276,548 | 23,676 |
UNAUDITED CONSOLIDATED STATEMENT OF CASH FLOWS FOR THE PERIOD ENDED 30 SEPTEMBER 2016 (cont'd) | ||||||
(Restated) | (Restated) | |||||
Ytd Sept | Ytd Sept | 3rd Qtr | 3rd Qtr | |||
2016 | 2015 | 2016 | 2015 | |||
US$'000 | US$'000 | US$'000 | US$'000 | |||
Cash flows from investing activities | ||||||
Proceeds from disposal of property, plant and equipment | 5,541 | 2,768 | 1,233 | 342 | ||
Proceeds from disposal of bearer plants | 245 | 1,801 | 57 | 248 | ||
Net cash outflow from disposal of a subsidiary | (8) | - | (8) | - | ||
Capital expenditure on property, plant and equipment | (158,936) | (276,718) | (60,614) | (53,742) | ||
Acquisition and capital expenditure on bearer plants | (6,613) | (28,517) | (2,313) | (2,719) | ||
(Investments in)/Proceeds from financial assets, net | (15,127) | (878) | (37,141) | 24,770 | ||
Additional investment in a joint venture | (1,500) | (1,000) | (500) | - | ||
Investments in Plasma/KKPA Program plantations, net | (4,989) | (2,638) | (4,357) | (1,131) | ||
Acquisition of subsidiaries, net of cash acquired | - | (53,490) | - | 107 | ||
Dividends received from a joint venture | 2,750 | 4,750 | 500 | 1,750 | ||
Cash inflow from non-controlling interest for incorporation of subsidiaries | 31 | - | 31 | - | ||
Payments for intangible assets | (6,936) | (2,051) | (4,782) | (1,996) | ||
Net decrease/(increase) in long-term receivables and assets | 17,262 | (74,987) | 18,846 | 1,645 | ||
Net cash used in investing activities | (168,280) | (430,960) | (89,048) | (30,726) | ||
Cash flows from financing activities | ||||||
Proceeds from short-term loans | 1,721,351 | 2,856,558 | 459,688 | 1,633,336 | ||
Proceeds from long-term borrowings | 360,348 | 250,000 | 15,000 | 250,000 | ||
Proceeds from notes issue | - | 148,698 | - | - | ||
Payments of dividends | (47,462) | (57,363) | - | (720) | ||
Payments of short-term loans | (1,873,455) | (2,744,141) | (625,010) | (1,346,249) | ||
Payments of long-term borrowings | (176,149) | (102,187) | (68,644) | (48,962) | ||
Payments of obligations under finance leases | (92) | (166) | (34) | (54) | ||
Payments of notes payable | (81,378) | - | (733) | - | ||
Payments for shares buy back | - | (31,726) | - | - | ||
Payments for repurchase of bonds | - | (115,623) | - | (111,272) | ||
Payments of deferred loan charges and bank loan administration costs | (6,817) | (2,885) | (2,691) | (2,709) | ||
Increase in cash in banks and time deposits pledged | (3,483) | (16,930) | 25,136 | (1,680) | ||
Net cash (used in)/generated from financing activities | (107,137) | 184,235 | (197,288) | 371,690 | ||
Net (decrease)/increase in cash and cash equivalents | (124,170) | 237,237 | (9,788) | 364,640 | ||
Cash and cash equivalents at the beginning of the period | 226,888 | 322,646 | 112,506 | 195,243 | ||
Cash and cash equivalents at the end of the period (See Note below) | 102,718 | 559,883 | 102,718 | 559,883 | ||
Cash and cash equivalents included in consolidated statement of cash flows consist of the following:
30/9/2016 US$'000 | 30/9/2015 US$'000 | |
Time deposits, cash and bank balances | 122,929 | 583,727 |
Less: Cash in banks and time deposits pledged | (20,211) | (23,844) |
102,718 | 559,883 |
Attributable to Owners of the Company -----------------------> | |||||||||
The Group | Issued Capital | Share Premium | Treasury Shares | Other Paid-in Capital | Other Reserves | Retained Earnings | Total | Non- Controlling Interests | Total Equity |
US$'000 | US$'000 | US$'000 | US$'000 | US$'000 | US$'000 | US$'000 | US$'000 | US$'000 | |
Balance at 1 Jan 2016 as previously reported | 320,939 | 1,216,095 | (31,726) | 184,318 | 41,708 | 6,928,359 | 8,659,693 | 88,473 | 8,748,166 |
Effect of adoption of amended IAS16 and IAS41 | - | - | - | - | 21,778 | (4,971,617) | (4,949,839) | (48,929) | (4,998,768) |
Balance at 1 Jan 2016 as restated | 320,939 | 1,216,095 | (31,726) | 184,318 | 63,486 | 1,956,742 | 3,709,854 | 39,544 | 3,749,398 |
Profit for the period | - | - | - | - | - | 133,613 | 133,613 | 3,562 | 137,175 |
Other comprehensive loss | - | - | - | - | (9,168) | - | (9,168) | (341) | (9,509) |
Total comprehensive (loss)/income for the period | - | - | - | - | (9,168) | 133,613 | 124,445 | 3,221 | 127,666 |
Dividends paid for 2015 | - | - | - | - | - | (47,462) | (47,462) | - | (47,462) |
Balance at 30 Jun 2016 | 320,939 | 1,216,095 | (31,726) | 184,318 | 54,318 | 2,042,893 | 3,786,837 | 42,765 | 3,829,602 |
Profit for the period | - | - | - | - | - | 219,725 | 219,725 | 900 | 220,625 |
Other comprehensive loss | - | - | - | - | (1,509) | - | (1,509) | (66) | (1,575) |
Total comprehensive (loss)/income for the period | - | - | - | - | (1,509) | 219,725 | 218,216 | 834 | 219,050 |
Non-controlling interests of newly incorporated subsidiaries | - | - | - | - | - | - | - | 31 | 31 |
Balance at 30 Sep 2016 | 320,939 | 1,216,095 | (31,726) | 184,318 | 52,809 | 2,262,618 | 4,005,053 | 43,630 | 4,048,683 |
Attributable to Owners of the Company -----------------------> | |||||||||||
The Group | Issued Capital | Share Premium | Treasury Shares | Other Paid-in Capital | Other Reserves | Retained Earnings | Total | Non- Controlling Interests | Total Equity | ||
US$'000 | US$'000 | US$'000 | US$'000 | US$'000 | US$'000 | US$'000 | US$'000 | US$'000 | |||
Balance at 1 Jan 2015 as previously reported | 320,939 | 1,216,095 | - | 184,318 | 45,141 | 6,962,010 | 8,728,503 | 89,818 | 8,818,321 | ||
Effect of adoption of amended IAS16 and IAS41 | - | - | - | - | 21,778 | (4,998,687) | (4,976,909) | (48,597) | (5,025,506) | ||
Balance at 1 Jan 2015 as restated | 320,939 | 1,216,095 | - | 184,318 | 66,919 | 1,963,323 | 3,751,594 | 41,221 | 3,792,815 | ||
Profit/(Loss) for the period | - | - | - | - | - | 7,207 | 7,207 | (680) | 6,527 | ||
Other comprehensive (loss)/income | - | - | - | - | (4) | - | (4) | 1 | (3) | ||
Total comprehensive (loss)/income for the period | - | - | - | - | (4) | 7,207 | 7,203 | (679) | 6,524 | ||
Shares buy back and held as treasury shares | - | - | (31,726) | - | - | - | (31,726) | - | (31,726) | ||
Dividends paid for 2014 | - | - | - | - | - | (16,933) | (16,933) | - | (16,933) | ||
Dividends paid to non-controlling shareholders | - | - | - | - | - | - | - | (60) | (60) | ||
Acquisition of subsidiaries | - | - | - | - | - | - | - | 9 | 9 | ||
Balance at 30 Jun 2015 as restated | 320,939 | 1,216,095 | (31,726) | 184,318 | 66,915 | 1,953,597 | 3,710,138 | 40,491 | 3,750,629 | ||
(Loss)/Profit for the period | - | - | - | - | - | (16,406) | (16,406) | 583 | (15,823) | ||
Other comprehensive loss | - | - | - | - | (7,739) | - | (7,739) | (480) | (8,219) | ||
Total comprehensive (loss)/income for the period | - | - | - | - | (7,739) | (16,406) | (24,145) | 103 | (24,042) | ||
Dividends paid to non-controlling shareholders | - | - | - | - | - | - | - | (720) | (720) | ||
Balance at 30 Sep 2015 as restated | 320,939 | 1,216,095 | (31,726) | 184,318 | 59,176 | 1,937,191 | 3,685,993 | 39,874 | 3,725,867 | ||
1(d) (i)A statement (for the issuer and group) showing either (i) all changes in equity or (ii) changes in equity other than those arising from capitalisation issues and distributions to shareholders, together with a comparative statement for the corresponding period of the immediately preceding financial year
The Company | Issued Capital | Share Premium | Treasury Shares | Option Reserve | Retained Earnings | Total |
US$'000 | US$'000 | US$'000 | US$'000 | US$'000 | US$'000 | |
Balance as at 1 Jan 2016 | 320,939 | 1,850,965 | (31,726) | 31,471 | 218,159 | 2,389,808 |
Profit for the period, representing total comprehensive income for the period | - | - | - | - | 781 | 781 |
Dividends paid for 2015 | - | - | - | - | (47,462) | (47,462) |
Balance as at 30 Jun 2016 | 320,939 | 1,850,965 | (31,726) | 31,471 | 171,478 | 2,343,127 |
Loss for the period, representing total comprehensive loss for the period | - | - | - | - | (191) | (191) |
Balance as at 30 Sep 2016 | 320,939 | 1,850,965 | (31,726) | 31,471 | 171,287 | 2,342,936 |
Balance as at 1 Jan 2015 | 320,939 | 1,850,965 | - | 31,469 | 241,172 | 2,444,545 |
Loss for the period | - | - | - | - | (4,805) | (4,805) |
Other comprehensive loss | - | - | - | (264) | - | (264) |
Total comprehensive loss for the period | - | - | - | (264) | (4,805) | (5,069) |
Dividends paid for 2014 | - | - | - | - | (16,933) | (16,933) |
Shares buy back and held as treasury shares | - | - | (31,726) | - | - | (31,726) |
Balance as at 30 Jun 2015 | 320,939 | 1,850,965 | (31,726) | 31,205 | 219,434 | 2,390,817 |
Loss for the period | - | - | - | - | (2,908) | (2,908) |
Other comprehensive income | - | - | - | 112 | - | 112 |
Total comprehensive income/(loss) for the period | - | - | - | 112 | (2,908) | (2,796) |
Balance as at 30 Sep 2015 | 320,939 | 1,850,965 | (31,726) | 31,317 | 216,526 | 2,388,021 |
1(d)(ii) Details of any changes in the company's share capital arising from rights issue, bonus issue, share buy-backs, exercise of share options or warrants, conversion of other issues of equity securities, issue of shares for cash or as consideration for acquisition or for any other purpose since the end of the previous period reported on. State also the number of shares that may be issued on conversion of all the outstanding convertibles, as well as the number of shares held as treasury shares, if any, against the total number of issued shares excluding treasury shares of the issuer, as at the end of the current financial period reported on and as at the end of the corresponding period of the immediately preceding financial year
Details of the Company's issued and paid-up capital were as follows:
As at | |
30 Sep 2016 | 30 Sep 2015 |
102,792,400 | 102,792,400 |
12,734,756,156 | 12,734,756,156 |
- | 412,097,209 |
Number of treasury shares
Number of issued shares (excluding treasury shares)
Number of new shares that may be issued on the conversion of outstanding convertible bonds
There were no movements in the Company's issued capital (excluding treasury shares) since 31 December 2015.
1(d)(iii) To show the number of issued shares excluding treasury shares as at the end of the current financial period and as at the end of the immediately preceding year.
The total number of issued shares excluding treasury shares as at 30 September 2016 and 31 December 2015 was 12,734,756,156 ordinary shares.
1(d)(iv) A statement showing all sales, transfers, disposal, cancellation and/or use of treasury shares as at the end of the current financial period reported on.
There were no changes in the number of ordinary shares held as treasury shares by the Company since 31 December 2015.
Whether the figures have been audited, or reviewed and in accordance with which auditing standard or practice
These figures have not been audited, or reviewed by the auditors.
Where the figures have been audited or reviewed, the auditors' report (including any qualifications or emphasis of matter)
Not applicable.
Whether the same accounting policies and methods of computation as in the issuer's most recently audited annual financial statements have been applied
Except as disclosed in Note 5 below, the Group has applied the same accounting policies and methods of computation consistent with those used in the most recent audited annual financial statements for the year ended 31 December 2015.
gar - Golden Agri-Resources Ltd. published this content on 14 November 2016 and is solely responsible for the information contained herein.
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