Wheelock Properties Singapore : Full Year Ended 31 December 2016 Financial Statement Announcement

Co. Reg. No. 197201797H (Incorporated in the Republic of Singapore)

ITEM NO.	DESCRIPTION	PAGE NO.
1(a)(i) 1(a)(ii) 1(a)(iii) 1(b)(i) 1(b)(ii) 1(c) 1(d)(i) 1(d)(ii) 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17	CONSOLIDATED STATEMENT OF PROFIT OR LOSS CONSOLIDATED STATEMENT OF COMPREHENSIVE INCOME NOTES TO THE CONSOLIDATED STATEMENT OF PROFIT OR LOSS STATEMENTS OF FINANCIAL POSITION BORROWINGS CONSOLIDATED STATEMENT OF CASH FLOWS STATEMENTS OF CHANGES IN EQUITY SHARE CAPITAL AUDIT OR REVIEW OF RESULTS BY AUDITORS AUDITORS' REPORT BASIS OF PREPARATION EFFECT OF CHANGES IN ACCOUNTING POLICIES AND METHODS EARNINGS PER SHARE NET ASSET VALUE PER SHARE REVIEW OF PERFORMANCE FORECAST STATEMENT CURRENT YEAR'S PROSPECTS DIVIDEND SEGMENTAL INFORMATION COMMENTS ON SEGMENT RESULTS INTERESTED PERSON TRANSACTIONS CONFIRMATION PURSUANT TO RULE 720(1) OF THE LISTING MANUAL NOTIFICATION PURSUANT TO RULE 704(13) OF THE LISTING MANUAL BREAKDOWN OF GROUP REVENUE AND PROFIT AFTER TAXATION FOR FIRST HALF AND SECOND HALF YEAR	2 3 4 6 7 8 11 13 13 14 14 14 14 14 14 16 16 16 17 19 19 19 20 20

UNAUDITED RESULTS FOR THE YEAR ENDED 31 DECEMBER 2016 TABLE OF CONTENTS

WHEELOCK PROPERTIES (SINGAPORE) LIMITED

(Incorporated in the Republic of Singapore)

1(a)(i) CONSOLIDATED STATEMENT OF PROFIT OR LOSS

Quarter ended			Year ended
31 Dec 2016	31 Dec 2015	Change	31 Dec 2016	31 Dec 2015	Change
$'000	$'000	%	$'000	$'000	%
Revenue Cost of sales	224,320 (205,152)	108,305 (84,414)	107.1 143.0	769,673 (656,296)	371,593 (284,137)	107.1 131.0
Gross profit	19,168	23,891	(19.8)	113,377	87,456	29.6
Other income
- Gain on disposal of	776	0	NA	3,553	22,065	(83.9)
investments
- Others	1,437	2,370	(39.4)	6,454	7,028	(8.2)
2,213	2,370	(6.6)	10,007	29,093	(65.6)
Selling and marketing
expenses	(2,654)	(2,274)	16.7	(12,357)	(5,555)	122.4
Administrative and
corporate expenses	(2,449)	(3,070)	(20.2)	(12,906)	(13,232)	(2.5)
Other operating expenses
- Write-back of	8,200	0	NA	8,200	6,000	36.7
diminution in value of a
development property
- Changes in fair value on
investment properties	(54,261)	(29,268)	85.4	(55,710)	(30,892)	80.3
- Others	(402)	37	NM	(321)	(20,759)	(98.5)
(46,463)	(29,231)	59.0	(47,831)	(45,651)	4.8
Finance costs	(17)	(1,047)	(98.4)	(2,172)	(3,424)	(36.6)
Share of profit of
associates, net of tax	4,430	9,865	(55.1)	12,523	13,936	(10.1)
(Loss)/Profit before taxation	(25,772)	504	NM	60,641	62,623	(3.2)
Tax credit/(expense)	9,358	(1,431)	753.9	(2,292)	(22,292)	(89.7)
(Loss)/Profit for the period	(16,414)	(927)	NM	58,349	40,331	44.7

1(a)(ii) CONSOLIDATED STATEMENT OF COMPREHENSIVE INCOME

Quarter ended			Year ended
31 Dec 2016	31 Dec 2015	Change	31 Dec 2016	31 Dec 2015	Change
$'000	$'000	%	$'000	$'000	%
(Loss)/Profit for the period Other comprehensive income: Items that will not be reclassified subsequently to profit or loss: Share of other comprehensive income of associates, net of tax Items that may be reclassified subsequently to profit or loss: Available-for-sale financial assets - net change in fair value - transfer to profit or loss on disposal Exchange differences arising on consolidation of foreign subsidiaries Share of other comprehensive income of associates, net of tax Other comprehensive income for the period, net of income tax	(16,414)	(927)	NM	58,349	40,331	44.7
	(49)	(31)	58.1	(49)	(31)	58.1
	(20,630)	17,593	(217.3)	(18,542)	(46,235)	(59.9)
	(776)	0	NA	(3,553)	(22,065)	(83.9)
	4,784	(8,325)	157.5	(12,328)	3,141	(492.5)
	4,151	(174)	NM	2,625	(1,395)	288.2
	(12,520)	9,063	(238.1)	(31,847)	(66,585)	(52.2)
Total comprehensive income for the period	(28,934)	8,136	(455.6)	26,502	(26,254)	200.9

1(a)(iii) NOTES TO THE CONSOLIDATED STATEMENT OF PROFIT OR LOSS

The following items have been charged or (credited) in arriving at profit for the period:

Quarter ended			Year ended
31 Dec 2016	31 Dec 2015	Change	31 Dec 2016	31 Dec 2015	Change
$'000	$'000	%	$'000	$'000	%
Exchange gain (net) - effective portion of changes in fair value of fair value hedge - net change in fair value of forward exchange contracts - realised forward exchange contracts (net) - others Interest income Others Other income - others Exchange loss (net) - effective portion of changes in fair value of fair value hedge - net change in fair value of forward exchange contracts - revaluation of bank loan and cash balances held in foreign currencies - realised forward exchange contracts (net) - others	0	890	(100.0)	0	0	NA
	0	(22,858)	(100.0)	0	0	NA
	0	21,305	(100.0)	0	0	NA
	0	47	(100.0)	0	0	NA
	0	(616)	(100.0)	0	0	NA
	(876)	(1,279)	(31.5)	(4,201)	(3,161)	32.9
	(561)	(475)	18.1	(2,253)	(3,867)	(41.7)
	(1,437)	(2,370)	(39.4)	(6,454)	(7,028)	(8.2)
	(5,983)	0	NA	(2,705)	(17,603)	(84.6)
	(955)	0	NA	(1,031)	548	(288.1)
	(20)	0	NA	351	9,601	(96.3)
	7,461	0	NA	3,640	28,530	(87.2)
	(151)	0	NA	(50)	(321)	(84.4)
	352	0	NA	205	20,755	(99.0)