IPC CORPORATION LTD IPC CORPORATION LTD
AND ITS SUBSIDIARIES
SGX APPENDIX 7.2 ANNOUNCEMENT
FOR THE 6 MONTHS ENDED
30 JUNE 2021
Contents | Page |
Condensed interim consolidated statement of comprehensive income | 1 |
Condensed interim statements of financial position | 2 |
Condensed interim statements of changes in equity | 3 |
Condensed interim consolidated statement of cash flows | 4 |
Notes to the condensed interim consolidated financial statements | 5 |
Other information required by Listing Rule Appendix 7.2 | 12 |
CONDENSED INTERIM CONSOLIDATED STATEMENT OF COMPREHENSIVE INCOME FOR THE 6 MONTHS ENDED 30 JUNE 2021
Group | ||||
6 months ended 30 June | ||||
Notes | 2021 | 2020 | % | |
S$'000 | S$'000 | |||
Sales | 3 | 1,308 | 509 | NM |
Cost of sales | (1,556) | (1,181) | 31.8 | |
Gross profit/(loss) | (248) | (672) | (63.1) | |
Other income | 5 | 412 | 389 | 5..9 |
Other gains/(losses), net | 5 | (2,566) | (18,989) | (86.5) |
Expenses | 5 | |||
Distribution and marketing | (149) | (122) | 22.1 | |
Administrative | (1,809) | (2,213) | (18.3) | |
Finance | (310) | (289) | 7.3 | |
(2,268) | (2,624) | (13.6) | ||
Profit/(loss) before income tax | (4,670) | (21,896) | (78.7) | |
Income tax credit/(expense) | 6 | (48) | - | NA |
Total profit/(loss) | (4,718) | (21,896) | (78.5) | |
Other comprehensive income/(loss) | ||||
Items that may be reclassified subsequently to profit or loss: | ||||
Currency translation gain/(loss) arising from consolidation | 1,357 | 1,463 | (7.2) | |
Items that will not be reclassified subsequently to profit or loss: | ||||
Financial assets, at FVOCI - equity investments | ||||
- Fair value gain/(loss) | 364 | 245 | 48.6 | |
Other comprehensive income/(loss), net of tax | 1,721 | 1,708 | 0.8 | |
Total comprehensive income/(loss) | (2,997) | (20,188) | (85.2) | |
Earnings/(losses) per share for profit/(loss) attributable to | ||||
equity holders of the Company | ||||
(cents per share) | ||||
- Basic | (5.53) | (25.67) | ||
- Diluted | (5.53) | (25.67) | ||
NM:Not meaningful (change more than 100%)
NA:Not applicable
IPC CORPORATION LTD AND ITS SUBSIDIARIES | Page 1 |
CONDENSED INTERIM STATEMENTS OF FINANCIAL POSITION
AS AT 30 JUNE 2021
Group | Company | |||||
30 Jun 2021 | 31 Dec 2020 | 30 Jun 2021 | 31 Dec 2020 | |||
Notes | (Audited) | (Audited) | ||||
S$'000 | S$'000 | S$'000 | S$'000 | |||
ASSETS | ||||||
Current assets | ||||||
Cash and cash equivalents | 7,166 | 8,099 | 2,203 | 3,607 | ||
Trade and other receivables | 578 | 754 | 153 | 169 | ||
Properties developed for sale | 12 | 10,826 | 11,040 | - | - | |
Properties held for sale | 12 | 1,786 | 2,526 | - | - | |
Other assets | 41 | 45 | - | - | ||
20,397 | 22,464 | 2,356 | 3,776 | |||
Non-current assets | ||||||
Financial assets, at FVPL | 9 | 2,702 | 4,352 | 2,702 | 4,352 | |
Financial assets, at FVOCI | 10 | 1,393 | 1,334 | - | - | |
Prepayment | 23 | 37 | - | - | ||
Investment in associated companies | - | - | - | - | ||
Investment in subsidiaries | - | - | 63,304 | 61,449 | ||
Property, plant and equipment | 47,099 | 46,709 | 893 | 999 | ||
51,217 | 52,432 | 66,899 | 66,800 | |||
Total assets | 71,614 | 74,896 | 69,255 | 70,576 | ||
LIABILITIES | ||||||
Current liabilities | ||||||
Trade and other payables | 1,930 | 2,141 | 112 | 244 | ||
Current income tax liabilities | - | 11 | - | - | ||
Lease liabilities | 214 | 285 | 214 | 285 | ||
Borrowings | 13 | 4,912 | 5,201 | - | - | |
7,056 | 7,638 | 326 | 529 | |||
Non-current liabilities | ||||||
Lease liabilities | 7 | 8 | 7 | 8 | ||
Borrowings | 13 | 3,953 | 3,655 | - | - | |
3,960 | 3,663 | 7 | 8 | |||
Total liabilities | 11,016 | 11,301 | 333 | 537 | ||
NET ASSETS | 60,598 | 63,595 | 68,922 | 70,039 | ||
EQUITY | ||||||
Capital and reserves attributable to equity | ||||||
holders of the Company | ||||||
Share capital | 8 | 33,190 | 33,190 | 33,190 | 33,190 | |
Currency translation reserve | (1,008) | (2,365) | - | - | ||
Fair value reserve | (892) | (1,486) | - | - | ||
Retained earnings | 29,308 | 34,256 | 35,732 | 36,849 | ||
Total equity | 60,598 | 63,595 | 68,922 | 70,039 |
IPC CORPORATION LTD AND ITS SUBSIDIARIES | Page 2 |
CONDENSED INTERIM CONSOLIDATED STATEMENT OF CHANGES IN EQUITY
FOR THE 6 MONTHS ENDED 30 JUNE 2021
Attributable to Equity Holders of the Company | ||||||
Currency | Fair | |||||
Share | translation | value | Retained | Total | ||
capital | reserve | reserve | earnings | equity | ||
S$'000 | S$'000 | S$'000 | S$'000 | S$'000 | ||
2021 | ||||||
As at 1 January | 33,190 | (2,365) | (1,486) | 34,256 | 63,595 | |
Total comprehensive income/(loss) for the period | ||||||
Profit/(loss) for the period | - | - | - | (4,718) | (4,718) | |
Transfer upon disposal of financial assets, at FVOCI | - | - | 230 | (230) | - | |
Other comprehensive income/(loss) for the period | - | 1,357 | 364 | - | 1,721 | |
- | 1,357 | 594 | (4,948) | (2,997) | ||
As at 30 June | 33,190 | (1,008) | (892) | 29,308 | 60,598 | |
2020 | ||||||
As at 1 January | 33,190 | (5,608) | (2,357) | 62,685 | 87,910 | |
Total comprehensive income/(loss) for the period | ||||||
Profit/(loss) for the period | - | - | - | (21,896) | (21,896) | |
Other comprehensive income/(loss) for the period | - | 1,463 | 245 | - | 1,708 | |
- | 1,463 | 245 | (21,896) | (20,188) | ||
As at 30 June | 33,190 | (4,145) | (2,112) | 40,789 | 67,722 |
CONDENSED INTERIM STATEMENT OF CHANGES IN EQUITY
FOR THE 6 MONTHS ENDED 30 JUNE 2021
Share capital | Retained | Total | ||
earnings | equity | |||
S$'000 | S$'000 | S$'000 | ||
2021 | ||||
As at 1 January | 33,190 | 36,849 | 70,039 | |
Total comprehensive income/(loss) for the period | ||||
Profit/(loss) for the period | - | (1,117) | (1,117) | |
- | (1,117) | (1,117) | ||
As at 30 June | 33,190 | 35,732 | 68,922 | |
2020 | ||||
As at 1 January | 33,190 | 81,295 | 114,485 | |
Total comprehensive income/(loss) for the period | ||||
Profit/(loss) for the period | - | (19,125) | (19,125) | |
- | (19,125) | (19,125) | ||
As at 30 June | 33,190 | 62,170 | 95,360 | |
IPC CORPORATION LTD AND ITS SUBSIDIARIES | Page 3 |
CONDENSED INTERIM CONSOLIDATED STATEMENT OF CASH FLOWSFOR THE 6 MONTHS ENDED 30 JUNE 2021
Cash flows from operating activities
Profit/(loss) before tax
Adjustments for
- Depreciation
- Unrealised translation losses/(gains)
- Gains on disposal of property, plant and equipment
- Fair value loss/(gain) on financial assets, at FVPL
- Write-downon properties held for sale
- Write-downon properties developed for sale
- Written off of other receivable
- Interest income
- Interest expenses
Change in working capital
- Other assets
- Properties
- Trade and other receivables
- Trade and other payables
Cash generated from/(used in) operations
Interest received
Income tax paid, net
Net cash provided by/(used in) operating activities
Cash flows from investing activities
Purchases of property, plant and equipment
Proceed of disposal of property, plant and equipment
Proceed of disposal of financial assets, at FVOCI
Net cash provided by/(used in)investing activities
Cash flows from financing activities
Interest paid
Proceeds from borrowings
Repayment of borrowings
Principal payment of lease liabilities
Net cash provided by/(used in)financing activities
Net increase/(decrease) in cash and cash equivalents
Cash and cash equivalents at beginning of financial period
Effects of currency translation on cash and cash equivalents
Cash and cash equivalents at end of financial period
Group
6 months ended 30 June
2021 2020
S$'000 S$'000
(4,670) (21,896)
925 1,140
- (174)
- -
1,650 17,651
794-
- 1,487
- -
- (24)
310289
- (1,527)
4(4)
220-
18958
- 74
- (1,399)
724
- (11)
- (1,386)
- (94)
406-
305-
367(94)
- (289)
618-
- (40)
- (131)
- (460)
(1,069) | (1,940) |
8,099 | 7,440 |
136187
7,166 5,687
IPC CORPORATION LTD AND ITS SUBSIDIARIES | Page 4 |
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Disclaimer
IPC Corporation Limited published this content on 29 July 2021 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 30 July 2021 17:48:08 UTC.
