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    4612   JP3749400002

NIPPON PAINT HOLDINGS CO., LTD.

(4612)
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Nippon Paint : Notification of Parent Company's Financial Results

06/01/2021 EDT
Investor Relations2021.06.01 Notification of Parent Company's Financial Results
#Investor Relations#timely disclosure

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June 1, 2021
Name of company:Nippon Paint Holdings Co., Ltd.Representative:Yuichiro Wakatsuki
Representative Executive Officer & Co-President
Wee Siew Kim
Representative Executive Officer & Co-President
(Securities Code: 4612, TSE 1st Section)
Contact:Ryosuke Tanaka,
General Manager of Investor Relations
(TEL+81-(0)50-3131-7419)

Notification of Parent Company's Financial Results

Nippon Paint Holdings Co., Ltd. ('NPHD') announces the FY 2020 financial results of NPHD's Parent Company, NIPSEA International Limited. As of today, NIPSEA International Limited fall under parent company of NPHD, as announced in the press release dated January 25, 2021, titled 'Notice of Completion of Acquisition of Additional Equity Interests in the Company's Joint Ventures with the Wuthelam Group in the Asia Region and Acquisition of an Equity Interest in the Indonesia Business (Conversion to Subsidiary), Completion of Pay-In Procedures for Issuance of New Shares Through a Third-Party Allotment, and Change in Parent Company.'

1. Corporate Overview
Company Name NIPSEA International Limited
Address Suites 3203 and 3204, 32nd Floor, Tower 2, Nina Tower, No.8 Yeung Uk Road, Tsuen Wan, New Territories, Hong Kong
Representative Director, Leung Ho Foon
Main business Investment Business
Capital HK $1,450 million
2. Status of Shares of NIPSEA International Limited (1) Status, by Type of Holder

(As of December 31, 2020)

Classification Shares Number of fractional shares (shares)
Governments / Local Governments Financial institutions Financial instruments operators Other corporations Foreign corporations, etc. Individuals & Others Total
Excl. individuals Individuals
Number of shareholders (persons) - - - - 1 - - 1 -
Number of shares held (shares) - - - - 1,450,000,000 - - 1,450,000,000 -
Percentage of shares held (%) - - - - 100.00 - - 100.00 -
(2) Major Shareholders

(As of December 31, 2020)

Name or trade name Address Number of shares held (shares) Percentage to total number of shares issued (%)
NIPSEA Holdings International Limited Suites 3203 and 3204, 32nd Floor, Tower 2, Nina Tower, No.8 Yeung Uk Road, Tsuen Wan, New Territories, Hong Kong 1,450 million 100.00
Total - 1,450 million 100.00
3. Board of Directors

(As of filing date)

Responsibilities Name Date of birth Biography Number of shares held (shares)
Director Leung Ho Foon Oct. 9, 1949
Nov. 2016Director, NIPSEA International Limited (present)
Nov 2020Director, Wuthelam Holdings Limited (present)
Nov 2020Director, NIPSEA Holdings International Limited (present)
-
Director Goh Hup Jin Apr. 6, 1953
Jun. 1984Managing Director, Wuthelam Holdings Limited (present)
Sept. 1987Director, NIPSEA Holdings International Limited (present)
Dec. 1993Managing Director, NIPSEA Pte. Limited (present)
Oct. 2009Director, NIPSEA Management Company Pte. Limited (present)
Aug. 2012Director, NIPSEA International Limited (present)
Dec. 2013Director, Rainbow Light Limited (present)
Dec. 2014Director of the Board, the Company
Mar. 2018Chairman of the Board
Mar. 2019Director of the Board
Apr. 2021Chairman (present)
-
Director Cheung Man Cheo Jan. 23, 1934
Oct. 2002Director, Wuthelam Holdings Limited (present)
Sept. 2007Director, NIPSEA Holdings International Limited (present)
Nov. 2016Director, NIPSEA International Limited (present)
-
Managing Director Lavoo Martin Yuen An Feb. 12, 1987
Nov. 2016Director, NIPSEA International Limited (present)
-
Director Sim Gaik Heok Aug. 22, 1967
Mar. 2019Director, NIPSEA International Limited (present)
-
Director Ng Kwok Kam Cecilia Feb. 25, 1967
Mar. 2021Director, Wuthelam Holdings Limited (present)
Mar. 2021Director, NIPSEA International Limited (present)
-
4. Financial Statements (1) Balance Sheet

(Unit: one thousand HKD)


FY2020 FY2019
  • Non-current assets
  • Plant and equipment
  • Investment in an associate
  • Investment in a subsidiary
  • Long-term investment

  • 93
  • 107,968,580
  • 76,613
  • 1,461

  • 141
  • 51,346,039
  • 76,613
  • 1,461
108,046,748 51,424,255
  • Current assets
  • Deposits, prepayments and other receivables
  • Amount due from a subsidiary
  • Pledged bank deposit
  • Cash and cash equivalents

  • 128
  • 17,544
  • 250
  • 249,334

  • 521
  • 14,645
  • -
  • 90,609
267,256 105,776
  • Current liabilities
  • Accrued expenses
  • Amount due to immediate parent
  • Amount due to intermediate holding company

  • 4,551
  • 570,725
  • 12,480,087

  • 454
  • 571,027
  • 12,708,236
13,055,363 13,279,719
  • Net current liabilities
(12,788,106) (13,173,942)
  • Net Assets
95,258,641 38,250,312
  • Capital and reserve
  • Share capital
  • Accumulated profits

  • 1,450,000
  • 93,808,641

  • 1,450,000
  • 36,800,312
  • Total Equity
95,258,641 38,250,312

Note: Amounts are rounded down.

(2) Statement of profit or loss and other comprehensive income

(Unit: one thousand HKD)


FY2020 FY2019
Revenue 415,512 409,178
Other income 2,918 2,663
Administrative expenses (4,064) (2,222)
Other operating expenses (7,803) (5,383)
Fair value gain on investment in an associate 56,622,541 17,276,198
Profit before taxation 57,029,104 17,680,434
Income tax (20,775) (20,458)
Profit and other comprehensive income for the year 57,008,328 17,659,975

Note: Amounts are rounded down.

(3) Statement of cash flows

(Unit: one thousand HKD)


FY2020 FY2019
  • Operating Activities
  • Profit before taxation
  • Bank interest income
  • Depreciation
  • Exchange difference on investment
  • Fair value gain on investment in an associate
  • Fair value gain on short-term investments

  • 57,029,104
  • (2,517)
  • 48
  • -
  • (56,622,541)
  • -

  • 17,680,434
  • (812)
  • 47
  • (54)
  • (17,276,198)
  • (121)
  • Operating profit before changes in working capital
  • Decrease/(increase) in deposits, prepayments and other receivables
  • Increase in amount due from a subsidiary
  • Increase/(decrease) in accrued expenses
  • (Decrease)/increase in amount due to immediate parent
  • Decrease in amount due to intermediate holding company
  • 404,093
  • 393
  • (2,899)
  • 4,096
  • (302)
  • (228,149)
  • 403,294
  • (383)
  • (3,303)
  • (257)
  • 8,219
  • (349,342)
Cash generated from operations 177,232 58,226
Withholding tax paid (20,775) (20,458)
Net cash generated from operating activities 156,456 37,767
  • Investing activities
  • Interest received
  • Increase in pledged bank deposit
  • Proceeds from disposal of short-term investment
  • Purchases of plant and equipment

  • 2,517
  • (250)
  • -
  • -

  • 812
  • -
  • 23,823
  • (27)
Net cash generated from investing activities 2,267 24,607
Net increase in cash and cash equivalents 158,724 62,375
Cash and cash equivalents at January 1 90,609 28,234
Cash and cash equivalents at December 31 249,334 90,609
  • Analysis of the balance of cash and cash equivalents


Time deposit with banks with maturity within 3 months 221,883 76,909
Cash and bank balances 27,450 13,700
Cash and cash equivalents at December 31 249,334 90,609

Note: Amounts are rounded down.

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Disclaimer

Nippon Paint Holdings Co. Ltd. published this content on 01 June 2021 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 15 June 2021 08:53:02 UTC.


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Sales 2021 983 B 8 957 M 8 957 M
Net income 2021 83 788 M 764 M 764 M
Net Debt 2021 275 B 2 507 M 2 507 M
P/E ratio 2021 38,7x
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