91
HG METAL MANUFACTURING LIMITED
ANNUAL REPORT 2014
NOTES TO THE
FINANCIAL STATEMENTS
for the financial year ended 31 December 2014
13.
INVESTMENT IN ASSOCIATES (CONT’D)
The summarised financial information in respect of BRC Asia Limited and POS-SEA Pte Ltd based
on its FRS financial statements and a reconciliation with the carrying amount of the investment in
the consolidated financial statements are as follows:
BRC Asia Limited
POS-SEA Pte Ltd
2014
2013
2014
2013
$’000
$’000
$’000
$’000
Currents
199,900
182,691
51,764
13,563
Non-current assets excluding
goodwill
85,062
73,732
364
265
Goodwill
10,907
10,907
–
–
Total assets
295,869
267,330
52,128
13,828
Current liabilities
(91,473)
(92,523)
(51,916)
(10,422)
Non-current liabilities
(22,430)
(8,569)
(2)
(2)
Total liabilities
(113,903)
(101,092)
(51,918)
(10,424)
Net assets
181,966
166,238
210
3,404
Net assets excluding goodwill
171,059
155,331
210
3,404
Proportion of the Group’s
ownership
22.46% 23.58% 32.45% 32.45%
Group’s share of net assets
38,420
36,627
68
1,105
Goodwill on acquisition
10,907
10,907
–
–
Other adjustments
101
(30)
(8)
19
Carrying amount of the
investment
49,428
47,504
60
1,124
Summarised statement of comprehensive income
BRC Asia Limited
POS-SEA Pte Ltd
2014
2013
2014
2013
$’000
$’000
$’000
$’000
Revenue
399,581
413,154
242,068
140,126
Profit/(loss) after tax from
continuing operations
24,639
36,135
(3,025)
736
Other comprehensive income
(451)
707
–
–
Total comprehensive income
24,188
36,842
(3,025)
736
