Samudera Shipping Line : FIRST HALF FINANCIAL STATEMENT FOR THE PERIOD ENDED 30 JUNE 2021

Condensed Interim Financial Statements for the Half Year ended 30 June 2021

Samudera Shipping Line Ltd

Company Registration: 199308462C

(Incorporated in the Republic of Singapore)

Samudera Shipping Line Ltd

Company Registration: 199308462C

(Incorporated in the Republic of Singapore)

Table of Contents
A.	Condensed Interim Consolidated Statement of Profit or Loss and Other Comprehensive Income	.... 1
B.	Condensed Interim Statements of Financial Position ..........................................................................	3
C. Condensed Interim Consolidated Statements of Cash Flows...............................................................	5
D.	Condensed Interim Statements of Changes of Equity..........................................................................	7
E.	Notes to the Condensed Interim Consolidated Financial Statements .................................................	9
F.	Other Information required under Listing Manual.............................................................................	16

Samudera Shipping Line Ltd

Company Registration: 199308462C

(Incorporated in the Republic of Singapore)

A. Condensed Interim Consolidated Statement of Profit or Loss and Other Comprehensive Income

Note

Revenue

Cost of sales

Gross profit

Other operating income

(A)

Marketing expenses Administrative expenses

Other operating expenses(B) Profit from operations

Finance income

Finance costs

Operating profit

Share of results of associate/ joint venture

Profit before tax

Income tax expense

Profit after tax

Attributable to:

Owners of the Company

Non-controlling interests

Profit after tax

n.m. = not meaningful

Notes to the Income Statement

Profit after tax is arrived at after charging (crediting) the following:

• Depreciation of property, plant and equipment
• Depreciation of right-of-use assets
• Depreciation of investment properties
• Amortisation of intangible assets
• Allowance for impairment on receivables
• Finance costs - interest on borrowings
• Finance costs - interest on lease liabilities

Group
1H2021	1H2020	+ / (-)
US$'000	US$'000	%
209,058	174,830	19.6
(164,303)	(161,865)	1.5
		245.2
44,755	12,965
2,229	702	217.5
(4,857)	(3,933)	23.5
(3,931)	(2,396)	64.1

1. (5) 620.0

38,160	7,333	420.4
129	476	(72.9)
(1,323)	(1,023)	29.3
		444.7
36,966	6,786
1,352	761	77.7
38,318	7,547	407.7
(388)	(240)	61.7
37,930	7,307	419.1
36,729	7,156	413.3
1,201	151	695.4
37,930	7,307	419.1

Group
1H2021	1H2020	+ / (-)
US$'000	US$'000	%
3,369	4,094	(17.7)
9,118	2,384	282.5
17	19	(10.5)
230	77	198.7
1,141	653	74.7
360	751	(52.1)
963	272	254.0

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Samudera Shipping Line Ltd

Company Registration: 199308462C

(Incorporated in the Republic of Singapore)

Notes to the Income Statement (Continued)
	Group
	1H2021	1H2020	+ / (-)
	US$'000	US$'000	%
(A) Other operating income
 Rental income	181	182	(0.5)
 Net foreign exchange gains	207	485	(57.3)
 Gain on disposal of plant, property and equipment, net	11	1	1,000.0
 Insurance claim	339	-	n.m.
 Others	1,491	34	4,285.3
	2,229	702	217.5
(B) Other operating expenses
 Others	(36)	(5)	620.0
	(36)	(5)	620.0
Other Comprehensive Income
	Group
	1H2021	1H2020
	US$'000	US$'000

Profit after tax for the period

Items that will not be reclassified subsequently to profit or loss

Remeasurement of defined benefit obligation

Items that may be reclassified subsequently to profit or loss Share of other comprehensive income of associate

Net unrealised loss on revaluation of cash flow hedges Exchange differences on translation of foreign operations

Other comprehensive income for the period, net of tax Total comprehensive income for the period

Total comprehensive income attributable to:

Owners of the Company

Non-controlling interests

37,930 7,307

1. 5

1. 5

346	252
43	-

1. (283)

231(31)

226(26)

38,156 7,281

36,997 7,180

1,159101

38,156 7,281

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Samudera Shipping Line Ltd

Company Registration: 199308462C

(Incorporated in the Republic of Singapore)

B. Condensed Interim Statements of Financial Position

	Group	Company
	30 Jun 21	31 Dec 20	30 Jun 21	31 Dec 20
	US$'000	US$'000	US$'000	US$'000
ASSETS
Current assets
Cash and bank balances	108,595	80,827	81,155	58,443
Trade receivables - third parties	62,476	53,810	56,142	48,264
Prepaid operating expenses	12,215	9,040	9,476	5,660
Other receivables and deposits	1,875	2,069	261	781
Due from immediate holding company (non-trade)	261	261	-	-
Due from immediate holding company (trade)	4,177	3,981	4,173	3,972
Due from subsidiaries (trade)	-	-	6,404	3,337
Due from subsidiaries (non-trade)	-	-	1,196	990
Due from related companies (trade)	16,492	10,375	12,214	5,652
Due from non-controlling interest of subsidiary (trade)	1,496	229	-	-
Inventories	1,698	1,650	1,473	1,419
	209,285	162,242	172,494	128,518
Assets classified as held for sale	6,615	13,230	6,615	13,230
	215,900	175,472	179,109	141,748

Non-current assets Investment properties Property, plant and equipment Right-of-use assets Intangible assets Subsidiaries Associate/joint venture Deferred tax assets

Due from subsidiary (non-trade)

Total assets

987	1,004	542	555
84,780	85,604	64,452	64,254
71,402	63,887	65,691	58,121
916	1,136	916	1,136
-	-	34,389	34,389
17,375	15,677	12,117	12,117
68	63	-	-
-	-	806	818
175,528	167,371	178,913	171,390
391,428	342,843	358,022	313,138

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