COSCO SHIPPING International Singapore : Financial Statement (221 KB)

COSCO SHIPPING INTERNATIONAL

(SINGAPORE) CO., LTD.

(Incorporated in the Republic of Singapore) (Company Registration no: 196100159G)

Condensed Interim Financial Statements

For the six months and full year ended

31 December 2021

COSCO SHIPPING INTERNATIONAL (SINGAPORE) CO., LTD.
(Company Registration no: 196100159G)
Table of Contents
A. Condensed consolidated statement of profit or loss.............................................................................................	1
B. Condensed consolidated statement of comprehensive income.........................................................................	2
C. Condensed balance sheets - Group and Company ...............................................................................................	3
D. Condensed statements of changes in equity - Group and Company ...............................................................	4
E. Condensed consolidated statement of cash flows.................................................................................................	5
F. Notes to the condensed interim consolidated financial statements ..................................................................	9
G. Other information required by Listing Rule Appendix 7.2..................................................................................	26

COSCO SHIPPING INTERNATIONAL (SINGAPORE) CO., LTD. (Company Registration no: 196100159G)

1. Condensed consolidated statement of profit or loss

	Note
Sales	6
Cost of sales
Gross profit
Other income	7

• Interest income
• Others

Other gains and losses	7
Expenses
- Distribution
- Administrative
-	Reversal of
	impairment/(impairment
	loss) on financial assets
-	Others
- Finance
Share of profit of associated
companies
Profit before income tax	7
Income tax expense	8
Profit for the period

Profit attributable to:

Equity holders of the

Company

Non-controlling interests

Earnings per share for profit attributable to the equity holders of the Company (expressed in cents per share)

		Group
2H 2021	2H 2020	Change	FY2021	FY2020	Change
$'000	$'000	%	$'000	$'000	%
103,587	99,570	4	198,463	185,843	7
(79,812)	(80,185)	NM	(151,287)	(155,776)	(3)
23,775	19,385	23	47,176	30,067	57
3,262	6,878	(53)	5,853	13,558	(57)
58	80	(28)	127	297	(57)
3,204	6,798	(53)	5,726	13,261	(57)
16,816	719	NM	17,164	2,126	NM
(1,799)	(1,304)	38	(3,111)	(2,552)	22
(14,130)	(13,955)	1	(27,522)	(25,571)	8
2	(289)	NM	26	(469)	NM
(14,132)	(13,666)	3	(27,548)	(25,102)	10
(3,883)	(3,457)	12	(7,455)	(7,632)	(2)
1,044	855	22	2,412	1,879	28
25,085	9,121	175	34,517	11,875	191
(1,469)	(1,739)	(16)	(3,674)	(2,810)	31
23,616	7,382	220	30,843	9,065	240
23,281	6,922	236	30,112	8,337	261
335	460	(27)	731	728	NM
23,616	7,382	220	30,843	9,065	240

- Basic earnings per share	10	1.04	0.31	235	1.34	0.37	262
- Diluted earning per share	10	1.04	0.31	235	1.34	0.37	262

NM denotes not meaningful.

1

1. Condensed consolidated statement of comprehensive income

				Group
		2H 2021	2H 2020	Change	FY2021	FY2020	Change
		$'000	$'000	%		$'000	$'000	%
Profit for the period	23,616	7,382	220		30,843	9,065	240
Other comprehensive
income:
Items that may be reclassified
subsequently to profit or loss:
Currency translation differences
arising from consolidation	693				965
- Gains/(losses)	(3,742)	NM	(2,514)	NM
- Reclassification on disposal of	8,663				8,663
a subsidiary	-	NM	-	NM
Other comprehensive
income/(losses), net of tax	9,356	(3,742)	NM	9,628	(2,514)	NM
Total comprehensive income	32,972	3,640	806		40,471	6,551	518
Total comprehensive income
attributable to:
Equity holders of the Company	32,629	3,160	933		39,837	6,025	561
Non-controlling interests	343	480	(29)		634	526	21
		32,972	3,640	806		40,471	6,551	518

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1. Condensed Balance Sheets - Group and Company

		Group		Company
	Note	31 December	31 December		31 December	31 December
		2021	2020	2021	2020
		$'000	$'000	$'000	$'000
Current assets		108,008		83,879
Cash and cash equivalents		76,333	8,450
Trade and other receivables		52,971	43,462	7,497	107
Inventories		325	812	-	-
Income tax receivables		137	-	-	-
		161,441	120,607		91,376	8,557
Non-current assets		424		-
Trade and other receivables		529	-
Investments in associated		55,251		49,019
companies		16,652	13,953
Investments in subsidiaries		-	-	528,681	614,589
Investment properties	12	40,793	38,515	-	-
Property, plant and	13	696,205	718,873	58	70
equipment
Intangible assets	14	119,411	123,584	-	-
Deferred tax assets		10	-	-	-
		912,094	898,153		577,758	628,612
Total assets		1,073,535	1,018,760		669,134	637,169
Current liabilities		53,249		58,825
Trade and other payables		54,307	40,362
Current income tax		3,810	2,519	-	1
liabilities
Borrowings	15	71,955	31,854	34,069	-
Provisions		1,111	507	-	-
		130,125	89,187		92,894	40,363
Non-current liabilities		8,070		-
Trade and other payables		7,493	-
Borrowings	15	286,251	311,000	38,000	72,069
Provisions		1,106	1,878	-	-
Deferred income tax		62,773		-
liabilities		63,886	-
		358,200	384,257		38,000	72,069
Total liabilities		488,325	473,444		130,894	112,432
Net assets		585,210	545,316		538,240	524,737
Equity		270,608		270,608
Share capital	16	270,608	270,608
Other reserves		34,924	25,560	45,105	45,105
Retained earnings		268,628	238,732	222,527	209,024
Shareholders' equity		574,160	534,900		538,240	524,737
Non-controlling interests		11,050	10,416	-	-
Total equity		585,210	545,316		538,240	524,737

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