IPC CORPORATION LTD

AND ITS SUBSIDIARIES

SGX APPENDIX 7.2 ANNOUNCEMENT

FOR THE 6 MONTHS AND FULL YEAR ENDED

31 DECEMBER 2021

Contents

Page

Condensed interim consolidated statement of comprehensive income

1

Condensed interim statements of financial position

2

Condensed interim statements of changes in equity

3

Condensed interim consolidated statement of cash flows

5

Notes to the condensed interim consolidated financial statements

6

Other information required by Listing Rule Appendix 7.2

15

CONDENSED INTERIM CONSOLIDATED STATEMENT OF COMPREHENSIVE INCOME FOR THE 6 MONTHS AND FULL YEAR ENDED 31 DECEMBER 2021

Group

Group

6 months ended 31 Dec

12 months ended 31 Dec

Notes

2021

2020

%

2021

2020

%

(Audited)

S$'000 S$'000

S$'000

S$'000

Sales

3

2,862

4,903

(41.6)

4,170

5,412

(22.9)

Cost of sales

(3,132)

(5,301)

(40.9)

(4,688)

(6,482)

(27.7)

Gross profit/(loss)

(270)

(398)

(32.2)

(518)

(1,070)

(51.6)

Other income

5

318

282

12.8

730

671

8.8

Other gains/(losses), net

5

(1,489)

(4,259)

(65.0)

(4,055)

(23,248)

(82.6)

Expenses

5

Distribution and marketing

(182)

(131)

38.9

(331)

(253)

30.8

Administrative

(1,935)

(1,557)

24.3

(3,744)

(3,770)

(0.7)

Finance

(237)

(333)

(28.8)

(547)

(622)

(12.1)

(2,354)

(2,021)

16.5

(4,622)

(4,645)

(0.5)

Profit/(loss) before income tax

(3,795)

(6,396)

(40.7)

(8,465)

(28,292)

(70.1)

Income tax credit/(expense)

6

(335)

(137)

N.M

(383)

(137)

NM

Total profit/(loss)

(4,130)

(6,533)

(36.8)

(8,848)

(28,429)

(68.9)

Other comprehensive income/(loss)

Items that may be reclassified subsequently to

profit or loss:

Currency translation gain/(loss) arising from

consolidation

1,165

1,780

(34.6)

2,522

3,243

(22.2)

Items that will not be reclassified subsequently to

profit or loss:

Financial assets, at FVOCI - equity investments

- Fair value gain/(loss)

(279)

626

N.M

85

871

(90.2)

Other comprehensive income/(loss), net of tax

886

2,406

(63.2)

2,607

4,114

(36.6)

Total comprehensive income/(loss)

(3,244)

(4,127)

(21.4)

(6,241)

(24,315)

(74.3)

Earnings/(losses) per share for profit/(loss)

attributable to equity holders of the

Company

(cents per share)

- Basic

(4.84)

(7.66)

(10.37)

(33.33)

- Diluted

(4.84)

(7.66)

(10.37)

(33.33)

NM:Not meaningful (change more than 100%)

NA:Not applicable

IPC CORPORATION LTD AND ITS SUBSIDIARIES

Page 1

CONDENSED INTERIM STATEMENTS OF FINANCIAL POSITION

AS AT 31 DECEMBER 2021

Group

Company

31 Dec 2021

31 Dec 2020

31 Dec 2021

31 Dec 2020

Notes

(Audited)

(Audited)

S$'000

S$'000

S$'000

S$'000

ASSETS

Current assets

Cash and cash equivalents

3,758

8,099

2,538

3,607

Trade and other receivables

398

754

152

169

Properties developed for sale

13

10,932

11,040

-

-

Properties held for sale

13

-

2,526

-

-

Other assets

45

45

-

-

15,133

22,464

2,690

3,776

Non-current assets

Financial assets, at FVPL

9

1,366

4,352

1,366

4,352

Financial assets, at FVOCI

10

526

1,334

-

-

Other receivables

329

37

250

-

Investment in associated companies

-

-

-

-

Investment in subsidiaries

11

-

-

58,700

61,449

Property, plant and equipment

47,833

46,709

675

999

50,054

52,432

60,991

66,800

Total assets

65,187

74,896

63,681

70,576

LIABILITIES

Current liabilities

Trade and other payables

2,100

2,141

149

244

Current income tax liabilities

338

11

116

-

Lease liabilities

248

285

40

285

Borrowings

14

915

5,201

-

-

3,601

7,638

305

529

Non-current liabilities

Lease liabilities

365

8

6

8

Borrowings

14

3,867

3,655

-

-

4,232

3,663

6

8

Total liabilities

7,833

11,301

311

537

NET ASSETS

57,354

63,595

63,370

70,039

EQUITY

Capital and reserves attributable to equity

holders of the Company

Share capital

8

33,190

33,190

33,190

33,190

Currency translation reserve

157

(2,365)

-

-

Fair value reserve

(867)

(1,486)

-

-

Retained earnings

24,874

34,256

30,180

36,849

Total equity

57,354

63,595

63,370

70,039

IPC CORPORATION LTD AND ITS SUBSIDIARIES

Page 2

CONDENSED INTERIM CONSOLIDATED STATEMENT OF CHANGES IN EQUITY

FOR THE 6 MONTHS AND YEAR ENDED 31 DECEMBER 2021

Attributable to Equity Holders of the Company

Currency

Fair

Share

translation

value

Retained

Total

capital

reserve

reserve

earnings

equity

Group

S$'000

S$'000

S$'000

S$'000

S$'000

2021

As at 1 January

33,190

(2,365)

(1,486)

34,256

63,595

Total comprehensive income/(loss) for the period

Profit/(loss) for the period

-

-

-

(4,718)

(4,718)

Transfer upon disposal of financial assets, at FVOCI

-

-

230

(230)

-

Other comprehensive income/(loss) for the period

-

1,357

364

-

1,721

-

1,357

594

(4,948)

(2,997)

As at 30 June

33,190

(1,008)

(892)

29,308

60,598

Total comprehensive income/(loss) for the period

Profit/(loss) for the period

-

-

-

(4,130)

(4,130)

Transfer upon disposal of financial assets, at FVOCI

-

-

304

(304)

-

Other comprehensive income/(loss) for the period

-

1,165

(279)

-

886

-

1,165

25

(4,434)

(3,244)

As at 31 December

33,190

157

(867)

24,874

57,354

2020

As at 1 January

33,190

(5,608)

(2,357)

62,685

87,910

Total comprehensive income/(loss) for the period

Profit/(loss) for the period

-

-

-

(21,896)

(21,896)

Other comprehensive income/(loss) for the period

-

1,463

245

-

1,708

-

1,463

245

(21,896)

(20,188)

As at 30 June

33,190

(4,145)

(2,112)

40,789

67,722

Total comprehensive income/(loss) for the period

Profit/(loss) for the period

-

-

-

(6,533)

(6,533)

Other comprehensive income/(loss) for the period

-

1,780

626

-

2,406

-

1,780

626

(6,533)

(4,127)

As at 31 December

33,190

(2,365)

(1,486)

34,256

63,595

IPC CORPORATION LTD AND ITS SUBSIDIARIES

Page 3

CONDENSED INTERIM STATEMENT OF CHANGES IN EQUITY

FOR THE 6 MONTHS AND YEAR ENDED 31 DECEMBER 2021

Share capital

Retained

Total

earnings

equity

Company

S$'000

S$'000

S$'000

2021

As at 1 January

33,190

36,849

70,039

Total comprehensive income/(loss) for the period

Profit/(loss) for the period

-

(1,117)

(1,117)

-

(1,117)

(1,117)

As at 30 June

33,190

35,732

68,922

Total comprehensive income/(loss) for the period

Profit/(loss) for the period

-

(5,552)

(5,552)

-

(5,552)

(5,552)

As at 31 December

33,190

30,180

63,370

2020

As at 1 January

33,190

81,295

114,485

Total comprehensive income/(loss) for the period

Profit/(loss) for the period

-

(19,125)

(19,125)

-

(19,125)

(19,125)

As at 30 June

33,190

62,170

95,360

Total comprehensive income/(loss) for the period

Profit/(loss) for the period

-

(25,321)

(25,321)

-

(25,321)

(25,321)

As at 31 December

33,190

36,849

70,039

IPC CORPORATION LTD AND ITS SUBSIDIARIES

Page 4

This is an excerpt of the original content. To continue reading it, access the original document here.

Attachments

  • Original Link
  • Original Document
  • Permalink

Disclaimer

IPC Corporation Limited published this content on 04 February 2022 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 04 February 2022 11:55:06 UTC.