1.
CORPORATE INFORMATION
HG Metal Manufacturing Limited (“the Company”) is a public limited liability company incorporated
in Singapore and is listed on the Singapore Exchange Securities Trading Limited (“SGX-ST”).
The registered office and principal place of business of the Company is located at 15 Jurong Port
Road, Singapore 619119.
The principal activities of the Company are those of investment holding and the business of trading
of steel products. The principal activities of the subsidiaries are set out in Note 12 of the financial
statements.
2.
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES
2.1
Basis of preparation
The consolidated financial statements of the Group and the balance sheet and statement of changes
in equity of the Company have been prepared in accordance with Singapore Financial Reporting
Standards (“FRS”).
The financial statements have been prepared on the historical cost basis except as disclosed in the
accounting policies below.
The financial statements are presented in Singapore Dollars (SGD or $) and all values in the tables
are rounded to the nearest thousand ($’000), except when otherwise indicated.
2.2
Changes in accounting policies
The accounting policies adopted are consistent with those of the previous financial year except in the
current financial year, the Group has adopted all the new and revised standards which are effective
for annual financial periods beginning on or after 1 January 2015. The adoption of these standards
did not have any effect on the financial performance or position of the Group and the Company.
53
HG METAL MANUFACTURING LIMITED
ANNUAL REPORT 2015
NOTES TO THE
FINANCIAL STATEMENTS
For the financial year ended 31 December 2015
