COSCO SHIPPING International Singapore : Financial Statement (965 KB)

COSCO SHIPPING INTERNATIONAL

(SINGAPORE) CO., LTD.

(Incorporated in the Republic of Singapore) (Company Registration no: 196100159G)

Condensed Interim Financial Statements For the six months ended 30 June 2022

COSCO SHIPPING INTERNATIONAL (SINGAPORE) CO., LTD.
(Company Registration no: 196100159G)
Table of Contents
A. Condensed consolidated statement of profit or loss.............................................................................................	1
B. Condensed consolidated statement of comprehensive income .........................................................................	2
C. Condensed balance sheets - Group and Company ...............................................................................................	3
D. Condensed statements of changes in equity - Group and Company ...............................................................	4
E. Condensed consolidated statement of cash flows.................................................................................................	5
F. Notes to the condensed interim consolidated financial statements ..................................................................	7
G. Other information required by Listing Rule Appendix 7.2 ..................................................................................	21

COSCO SHIPPING INTERNATIONAL (SINGAPORE) CO., LTD. (Company Registration no: 196100159G)

1. Condensed consolidated statement of profit or loss

			Group
		Note	6 months	6 months
			ended	ended
			30 June 2022	30 June 2021	Change
			$'000	$'000	%
Sales	6	92,449	94,876	(3)
Cost of sales		(72,200)	(71,475)	1
Gross profit		20,249	23,401	(13)
Other income	7
- Interest income		187	69	171
- Others		1,163	2,522	(54)
			1,350	2,591	(48)
Other gains and losses	7	402	348	16
Expenses
- Distribution		(1,442)	(1,312)	10
- Administrative
-	(Impairment loss)/reversal of
	impairment on financial assets		(6)	24	NM
-	Others		(12,201)	(13,416)	(9)
			(12,207)	(13,392)	(9)
- Finance		(3,943)	(3,572)	10
Share of profit of associated companies		4,169	1,368	205
Profit before income tax	7	8,578	9,432	(9)
Income tax expense	8	(1,929)	(2,205)	(13)
Profit for the period		6,649	7,227	(8)
Profit attributable to:
Equity holders of the Company		6,198	6,831	(9)
Non-controlling interests		451	396	14
			6,649	7,227	(8)
Earnings per share for profit
attributable to the equity holders of the
Company
(expressed in cents per share)
- Basic earnings per share	10	0.28	0.31	(10)
- Diluted earning per share	10	0.28	0.31	(10)

NM denotes not meaningful.

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1. Condensed consolidated statement of comprehensive income

		Group
		6 months	6 months
		ended	ended
		30 June 2022	30 June 2021	Change
		$'000	$'000	%
Profit for the period	6,649	7,227	(8)
Other comprehensive (loss)/income:
Items that may be reclassified
subsequently to profit or loss:
Currency translation differences
arising from consolidation
- (Losses)/gains	(525)	272	NM
Other comprehensive
(loss)/income, net of tax	(525)	272	NM
Total comprehensive income	6,124	7,499	(18)
Total comprehensive income
attributable to:
Equity holders of the Company	5,888	7,208	(18)
Non-controlling interests	236	291	(19)
		6,124	7,499	(18)

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1. Condensed Balance Sheets - Group and Company

		Group		Company
	Note	30 June	31 December		30 June	31 December
		2022	2021	2022	2021
		$'000	$'000	$'000	$'000
Current assets
Cash and cash equivalents		115,800	108,008	81,759	83,879
Trade and other receivables		45,753	52,971	86	7,497
Inventories		329	325	-	-
Income tax receivables		-	137		-	-
		161,882	161,441	81,845	91,376
Non-current assets
Trade and other receivables		379	424	-	-
Investments in associated
companies		57,911	55,251	49,019	49,019
Investments in subsidiaries		-	-	528,681	528,681
Investment properties	12	36,007	40,793	-	-
Property, plant and	13
equipment		676,192	696,205	48	58
Intangible assets	14	117,344	119,411	-	-
Deferred tax assets		98	10		-	-
		887,931	912,094		577,748	577,758
Total assets		1,049,813	1,073,535	659,593	669,134
Current liabilities
Trade and other payables		58,282	53,249	50,986	58,825
Current income tax
liabilities		4,160	3,810	10	-
Borrowings	15	68,767	71,955	34,069	34,069
Provisions		1,111	1,111		-	-
		132,320	130,125	85,065	92,894
Non-current liabilities
Trade and other payables		-	8,070	-	-
Borrowings	15	264,132	286,251	38,000	38,000
Provisions		1,226	1,106	-	-
Deferred income tax
liabilities		61,201	62,773		-	-
		326,559	358,200		38,000	38,000
Total liabilities		458,879	488,325		123,065	130,894
Net assets		590,934	585,210	536,528	538,240
Equity
Share capital	16	270,608	270,608	270,608	270,608
Other reserves		34,499	34,924	45,105	45,105
Retained earnings		274,826	268,628		220,815	222,527
Shareholders' equity		579,933	574,160	536,528	538,240
Non-controlling interests		11,001	11,050		-	-
Total equity		590,934	585,210		536,528	538,240

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