Amara : Full Yearly Results

Financial Statements and Related Announcement: :Full Yearly Results Page 1 of 1

Financial Statements and Related Announcement::Fu!! Results Issuer & Securities

Issuer/ Manager	AMARA	HOLDINGS	LIMITED
Securities	AMARA	HOLDINGS	LTD - SG1F08854688	- A34
Stapled Security	No

Announcement Details

Announcement Title	Financial Statements and Related Announcement
Date & Time of Broadcast	22-Feb-2017 19:38:44
Status	New
Announcement Sub Title	Full Yearly Results
Announcement Reference	SG1702220THRTKJC
Submitted By (Co.I Ind. Name)	Ms Susan Teo Geok Tin I Ms Foo Soon Soo
Designation	Company Secretaries
Description (Please provide a detailed description of the event in the box below - Refer to the Online help for the format)	Please see attachment.

Additional Details

For Financial Period Ended

http://infopub.sgx.com/ Apps?A=COW_CorpAnnouncement_ Content&B=Announceme... 22/02/17

A1'1A RA H O L D I N G S L I M IT E D

Co.Regn.No.197000732N

Unaudited Full Year Financial Statement And Dividend Announcement for the Year Ended 31 December 2016

PART I· INFORMATION REQUIRED FOR ANNOUNCEMENTS OF QUARTERLY (Q1, Q2 & Q3), HALF-YEAR AND FULL YEAR RESULTS

Group
31/12/2016	31/12/2015	Change
$'000	$'000	%
81,274	82,425	(1)
1,840	5,588	(67)
719	1,442	(50)
22	92	(76)
(6,948)	(9,417)	(26)
(24,293)	(23,865)	2
(5,557)	(5,202)	7
(5,989)	(6,542)	(8)
(29,063)	(26,311)	10
27,996	(28)	NM
40,001	18,182	120
(3,206)	(3,876)	(17)
36,795	14,306	157
(3,647)	1,625	NM
62	75	(17)
(41)	(136)	(70)
(3,626)	1,564	NM
33,169	15,870	109
37,075	14,332	159
(280)	(26)	NM
36,795	14,306	157
33,449	15,896	110
(280)	(26)	NM
33,169	15,870	109

1(a) Consolidated Statement of Comprehensive Income

Revenue

Fair value gains (net) of investment properties Other income

Changes in inventories of finished goods Cost of properties sold/consumables used Staff costs

Depreciation Finance costs Other expenses

Share of results of a jointly-controlled entity, net of tax

Profit before tax Income tax expense

Profit for the year

Other comprehensive (loss)/income, after tax :

Currency translation differences on translation of financial statements of foreign subsidiaries

Fair value loss on available-for-sale financial assets reclassified to profit or loss

Fair value loss on available-for-sale financial assets, net Other comprehensive (loss)/income for the year, net of tax Total comprehensive income for the year

Profit attributable to :

Equity holders of the Company Non-controlling interests

Total comprehensive income attributable to : Equity holders of the Company

Non-controlling interests

Notes to Consolidated Statement of Comprehensive Income :

Group
31/12/2016	31/12/2015	Change
$'000	$'000	%
(112)	(112)	-
(76)	(13)	NM
(2,906)	(180)	NM
.	(34)	(100)
13	2	NM
(450)	(22)	NM
130	17	NM
45	72	(38)
285	566	(50)
(840)	486	NM
301	(38)	NM

Profit before tax is arrived at after (charging)/crediting:

Amortisation of other assets

Allowance of doubtful trade receivables, net Allowance of doubtful non-trade receivables, net Bad debts written off (trade)

Gain on disposal of available-for-sale financial assets Property, plant and equipment written off

Gain on disposal of property, plant and equipment Income from available-for-sale financial assets Interest income

Net foreign exchange (loss)/gain Over/(under) provision of prior years' tax

NM : Not meaningful

AMARA HOLDINGS LIMITED

Unaudited Full Year Financial Statement And Dividend Announcement for the Year Ended 31 December 2016

1(b) (i) Statements of Financial Position

Group Company

Current assets Cash and bank balances	Notes	31/12/2016 $'000 16,024	31/12/2015 $'000 13,455	31/12/2016 $'000 20	31112/2015 $'000 64
Trade and other receivables	A	8,919	16,261	53,190	42,794
Inventories	429	407
Development properties	B	77,393	43,320
Other current assets	1,048	1,651	5	5
103,813	75,094	53,215	42,863
Non-current assets
Available-for-sale financial assets	1,063	1,109	126	125
Intangible assets	441	409
Investment in subsidiaries Investment in a jointly-controlled entity	c	29,872	1,876	41,987	40,937
Investment properties	349,588	338,485
Property, plant and equipment	226,184	207,363
Land use rights	6,692	7,055
Goodwill	789	789
Other assets	6,464	6,576
Trade and other receivables	D	31,292
Other non-current assets	131	215
Deferred income tax assets	233	315
621,457	595,484	42,113	41,062
Total assets	725,270	670,578	95,328	83,925
Current liabilities
Trade and other payables	26,054	22,512	365	327
Tax payables	3,275	4,122
Borrowings	60,953	61,924
90,282	88,558	365	327
Non-current liabilities
Trade and other payables	5,343	4,978
Borrowings	250,449	225,421
Deferred income tax liabilities	5,543	5,386
261,335	235,785
Total liabilities	351,617	324,343	365	327
Net assets	373,653	346,235	94,963	83,598
Capital and reserves attributable to
equity holders of the Company
Share capital	125,646	125,646	125,646	125,646
Treasury shares	(913)	(913)	(913)	(913)
Reserves	249,331	221,633	(29,770)	(41,135)
374,064	346,366	94,963	83,598
Non-controlling interests	(411)	(131)
Total equity	373,653	346,235	94,963	83,598

Notes to Statements of Financial Position:

A Decrease was mainly due to receipts from sales of development project and provision for doubtful debts. B Increase was mainly due to acquisition of land.

1. Increase was due to higher share of results of a jointly-controlled entity.

2. Decrease was mainly due to repayment of advances from a jointly-controlled entity.

AMARA HOLDINGS LIMITED

Unaudited Full Year Financial Statement And Dividend Announcement for the Year Ended 31 December 2016

31/12/2016
$'000
Secured	I	Unsecured
60,953	I	Nil

31/12/2015
$'000
Secured	I	Unsecured
61,924	I	Nil

1. (ii) Aggregate amount of group's borrowings and debt securities. Amount repayable in one year or less, or on demand

   Amount repayable after one year

   31/12/2016
   $'000
   Secured	I Unsecured
   250,449	I	Nil

   31/12/2015
   $'000
   Secured	I	Unsecured
   225,421	I	Nil

   Details of any collateral

   The borrowings are secured by the followings:

2. first legal mortgages on certain subsidiaries' property, plant and equipment and investment and development property;

3. an assignment in escrow of interest in a subsidiary's lease and rental proceeds from its investment properties; a fixed and floating charge over its assets;

4. an assignment of certain subsidiaries' interest in sale and purchase agreements, tenancy agreements, insurance policies, building contracts, performance bonds and all monies standing to the credit in a subsidiary's project account in respect of development properties; and

5. corporate guarantee given by the Company and debenture over certain subsidiaries' hotels.