Hong Kong Exchanges and Clearing Limited and The Stock Exchange of Hong Kong Limited take no responsibility for the contents of this announcement, make no representation as to its accuracy or completeness and expressly disclaim any liability whatsoever for any loss howsoever arising from or in reliance upon the whole or any part of the contents of this announcement.
COURAGE INVESTMENT GROUP LIMITED
勇利投資集團有限公司
(Incorporated in Bermuda with limited liability)
(Hong Kong Stock Code: 1145)
(Singapore Stock Code: CIN)
ANNOUNCEMENT OF UNAUDITED INTERIM RESULTS
FOR THE SIX MONTHS ENDED 30 JUNE 2021
The Board of Directors (the "Board") of Courage Investment Group Limited (the "Company") is pleased to announce the unaudited condensed consolidated results of the Company and its subsidiaries (collectively referred to as the "Group") for the six months ended 30 June 2021 together with comparative figures as follows:
CONDENSED CONSOLIDATED STATEMENT OF PROFIT OR LOSS AND OTHER COMPRESHENSIVE INCOME
For the six months ended 30 June 2021
Six months ended 30 June | |||||
2021 | 2020 | ||||
Notes | US$'000 | US$'000 | |||
(Unaudited) | (Unaudited) | ||||
Revenue | |||||
Marine transportation income | 3,636 | 3,537 | |||
Trading income | - | 323 | |||
Interest income | 392 | 390 | |||
Property rental income | 91 | 110 | |||
Total revenue | 4 | 4,119 | 4,360 | ||
Cost of goods sold and direct expenses | (2,493) | (2,746) | |||
Other income | 19 | 23 | |||
Other gains and losses, net | 5 | (36) | (1,878) | ||
Administrative expenses | (665) | (616) | |||
Share of result of a joint venture | (1) | (25) | |||
Finance costs | (240) | (425) | |||
Profit (loss) for the period attributable to owners | |||||
of the Company | 7 | 703 | (1,307) |
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Six months ended 30 June | |||||
2021 | 2020 | ||||
Note | US$'000 | US$'000 | |||
(Unaudited) | (Unaudited) | ||||
Other comprehensive income (expense) | |||||
Items that may be reclassified subsequently to profit or | |||||
loss: | |||||
Exchange difference arising on translation of the foreign | |||||
operation of a joint venture | 53 | (68) | |||
Net decrease in fair value of debt instruments at fair value | |||||
through other comprehensive income | (501) | (228) | |||
Other comprehensive expense for the period, net of income | |||||
tax | (448) | (296) | |||
Total comprehensive income (expense) for the period | |||||
attributable to owners of the Company | 255 | (1,603) | |||
Basic earnings (loss) per share attributable to owners of | |||||
the Company (US cent) | 9 | 0.06 | (0.24) | ||
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CONDENSED CONSOLIDATED STATEMENT OF FINANCIAL POSITION
At 30 June 2021
At | At | |||
30 June | 31 December | |||
2021 | 2020 | |||
Notes | US$'000 | US$'000 | ||
(Unaudited) | (Audited) | |||
Non-current assets | ||||
Property, plant and equipment | 29,599 | 30,280 | ||
Right-of-use asset | 197 | 260 | ||
Investment property | 9,256 | 9,295 | ||
Interest in a joint venture | 4,996 | 4,944 | ||
Debt instruments at fair value through other | ||||
comprehensive income | 10 | 5,495 | 10,407 | |
49,543 | 55,186 | |||
Current assets | ||||
Trade receivables | 11 | - | 94 | |
Other receivables and prepayments | 706 | 887 | ||
Amount due from a joint venture | 669 | 669 | ||
Debt instruments at fair value through other | ||||
comprehensive income | 10 | 4,411 | - | |
Financial assets at fair value through profit or loss | 58 | 58 | ||
Bank balances and cash | 7,175 | 10,032 | ||
13,019 | 11,740 | |||
Total assets | 62,562 | 66,926 | ||
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At | At | |||
30 June | 31 December | |||
2021 | 2020 | |||
Notes | US$'000 | US$'000 | ||
(Unaudited) | (Audited) | |||
Current liabilities | ||||
Deposits received, other payables and accruals | 1,178 | 1,182 | ||
Contract liabilities | 158 | 41 | ||
Borrowings - due within one year | 12 | 5,482 | 6,089 | |
Lease liabilities | 138 | 136 | ||
6,956 | 7,448 | |||
Net current assets | 6,063 | 4,292 | ||
Total assets less current liabilities | 55,606 | 59,478 | ||
Capital and reserves | ||||
Share capital | 13 | 1,098 | 549 | |
Reserves | 48,487 | 48,991 | ||
Total equity | 49,585 | 49,540 | ||
Non-current liabilities | ||||
Borrowings - due more than one year | 12 | 5,939 | 9,786 | |
Lease liabilities | 82 | 152 | ||
6,021 | 9,938 | |||
Total liabilities and equity | 62,562 | 66,926 | ||
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Notes:
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General information
The Company (Registration No. 36692) was incorporated in Bermuda on 5 April 2005 as an exempted company with limited liability under the Companies Act 1981 of Bermuda. Its registered office is at Clarendon House, 2 Church Street, Hamilton HM11, Bermuda and its principal place of business is at Room 2113, 21st Floor, Great Eagle Centre, 23 Harbour Road, Wanchai, Hong Kong. The Company is primarily listed on the Main Board of The Stock Exchange of Hong Kong Limited (the "Hong Kong Stock Exchange") and secondarily listed on the Main Board of the Singapore Exchange Securities Trading Limited (the "SGX-ST"). The condensed consolidated financial statements are presented in the United States dollars ("US$"), which is the functional currency of the Company, and all values are rounded to the nearest thousand (US$'000) where appropriate or as indicated. - Principal accounting policies
The condensed consolidated financial statements have been prepared in accordance with International Accounting Standard ("IAS") 34 Interim Financial Reporting as well as the applicable disclosure requirements of Appendix 16 to the Rules Governing the Listing of Securities on the Hong Kong Stock Exchange (the "Hong Kong Listing Rules").
The condensed consolidated financial statements have been prepared on the historical cost basis except for certain financial instruments and an investment property that are measured at fair values.
Other than changes in accounting policies resulting from application of amendments to International Financial Reporting Standards ("IFRSs"), the accounting policies and methods of computation used in the condensed consolidated financial statements for the six months ended 30 June 2021 are the same as those presented in the Group's audited consolidated financial statements for the year ended 31 December 2020.
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Courage Investment Group Limited published this content on 24 August 2021 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 24 August 2021 12:43:05 UTC.