PACIFIC HEALTHCARE HOLDINGS LTD. (Co. Regn. No: 200100544H)
FINANCIAL STATEMENT AND DIVIDEND ANNOUNCEMENT FOR THE SECOND QUARTER ENDED 30 JUNE 2015
1(a) An income statement (for the group) together with a comparative statement for the corresponding period of the immediately preceding financial year.
1(a)(i) Unaudited Group Income Statement for the second quarter ended 30 June 2015.
GROUP | Second Quarter | Year-To-Date | ||||
GROUP | Q2 2015 S$'000 | Q2 2014 S$'000 | Increase/ (Decrease) % | 30/6/2015 S$'000 | 30/6/2014 S$'000 | Increase/ (Decrease) % |
Revenue Other items of income Interest income Other income Items of expense Financial expense Purchases and changes in inventories of consumables and medical supplies Employee benefits expense Depreciation and amortisation Rental expense Other expenses Share of results of associates Profit/ (Loss) before tax Income tax Profit/ (Loss) for the period Attributable to: Owners of the Company Non-controlling interests Profit/ (Loss) for the period | 12,683 26 415 (2) (2,113) (8,083) (387) (2,254) (1,549) 109 | 13,657 30 1,720 - (2,473) (7,802) (929) (2,112) (1,926) 394 | (7) (13) (76) N.M. (15) 4 (58) 7 (20) (72) (307) N.M. (312) (246) 117 (312) | 24,861 56 2,307 (2) (4,253) (15,566) (779) (4,508) (2,967) 282 | 27,591 61 4,065 (8) (4,846) (16,105) (1,810) (4,334) (3,743) 518 | (10) (7) (43) (75) (12) (3) (57) 4 (21) (46) (141) N.M. (146) (140) 125 (146) |
Revenue Other items of income Interest income Other income Items of expense Financial expense Purchases and changes in inventories of consumables and medical supplies Employee benefits expense Depreciation and amortisation Rental expense Other expenses Share of results of associates Profit/ (Loss) before tax Income tax Profit/ (Loss) for the period Attributable to: Owners of the Company Non-controlling interests Profit/ (Loss) for the period | (1,155) (28) | 559 - | (7) (13) (76) N.M. (15) 4 (58) 7 (20) (72) (307) N.M. (312) (246) 117 (312) | (567) (72) | 1,389 - | (10) (7) (43) (75) (12) (3) (57) 4 (21) (46) (141) N.M. (146) (140) 125 (146) |
Revenue Other items of income Interest income Other income Items of expense Financial expense Purchases and changes in inventories of consumables and medical supplies Employee benefits expense Depreciation and amortisation Rental expense Other expenses Share of results of associates Profit/ (Loss) before tax Income tax Profit/ (Loss) for the period Attributable to: Owners of the Company Non-controlling interests Profit/ (Loss) for the period | (1,183) | 559 | (7) (13) (76) N.M. (15) 4 (58) 7 (20) (72) (307) N.M. (312) (246) 117 (312) | (639) | 1,389 | (10) (7) (43) (75) (12) (3) (57) 4 (21) (46) (141) N.M. (146) (140) 125 (146) |
Revenue Other items of income Interest income Other income Items of expense Financial expense Purchases and changes in inventories of consumables and medical supplies Employee benefits expense Depreciation and amortisation Rental expense Other expenses Share of results of associates Profit/ (Loss) before tax Income tax Profit/ (Loss) for the period Attributable to: Owners of the Company Non-controlling interests Profit/ (Loss) for the period | (1,233) 50 | 846 (287) | (7) (13) (76) N.M. (15) 4 (58) 7 (20) (72) (307) N.M. (312) (246) 117 (312) | (779) 140 | 1,945 (556) | (10) (7) (43) (75) (12) (3) (57) 4 (21) (46) (141) N.M. (146) (140) 125 (146) |
Revenue Other items of income Interest income Other income Items of expense Financial expense Purchases and changes in inventories of consumables and medical supplies Employee benefits expense Depreciation and amortisation Rental expense Other expenses Share of results of associates Profit/ (Loss) before tax Income tax Profit/ (Loss) for the period Attributable to: Owners of the Company Non-controlling interests Profit/ (Loss) for the period | (1,183) | 559 | (7) (13) (76) N.M. (15) 4 (58) 7 (20) (72) (307) N.M. (312) (246) 117 (312) | (639) | 1,389 | (10) (7) (43) (75) (12) (3) (57) 4 (21) (46) (141) N.M. (146) (140) 125 (146) |
NM: Not Meaningful
PACIFIC HEALTHCARE HOLDINGS LTD.(Co. Regn. No: 200100544H)
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1(a) An income statement (for the group) together with a comparative statement for the
corresponding period of the immediately preceding financial year (Cont'd).
Statement of Comprehensive Expense | Second Quarter | Year to date | ||||
Statement of Comprehensive Expense | Q2 2015 S$'000 | Q2 2014 S$'000 | Increase/ (Decrease) % | 30/6/2015 S$'000 | 30/6/2014 S$'000 | Increase/ (Decrease) % |
Profit/(Loss) for the period Other comprehensive income/ (expense) Translation differences relating to financial statements of foreign subsidiaries Total comprehensive income/ (expense) for the period Total comprehensive income/ (expense) attributable to: Owners of the parent Non-controlling interests Total comprehensive income/ (expense) for the period | (1,183) 90 | 559 2,576 | (312) (96) (135) (180) (88) (135) | (639) 122 | 1,389 2,721 | (146) (96) (113) (128) (72) (113) |
Profit/(Loss) for the period Other comprehensive income/ (expense) Translation differences relating to financial statements of foreign subsidiaries Total comprehensive income/ (expense) for the period Total comprehensive income/ (expense) attributable to: Owners of the parent Non-controlling interests Total comprehensive income/ (expense) for the period | (1,093) | 3,135 | (312) (96) (135) (180) (88) (135) | (517) | 4,110 | (146) (96) (113) (128) (72) (113) |
Profit/(Loss) for the period Other comprehensive income/ (expense) Translation differences relating to financial statements of foreign subsidiaries Total comprehensive income/ (expense) for the period Total comprehensive income/ (expense) attributable to: Owners of the parent Non-controlling interests Total comprehensive income/ (expense) for the period | (1,289) 196 | 1,608 1,527 | (312) (96) (135) (180) (88) (135) | (835) 318 | 2,973 1,137 | (146) (96) (113) (128) (72) (113) |
Profit/(Loss) for the period Other comprehensive income/ (expense) Translation differences relating to financial statements of foreign subsidiaries Total comprehensive income/ (expense) for the period Total comprehensive income/ (expense) attributable to: Owners of the parent Non-controlling interests Total comprehensive income/ (expense) for the period | (1,093) | 3,135 | (312) (96) (135) (180) (88) (135) | (517) | 4,110 | (146) (96) (113) (128) (72) (113) |
1(a)(ii)
GROUP | Second Quarter | Year-To-Date | ||
GROUP | Q2 2015 | Q2 2014 | 30/06/2015 | 30/06/2014 |
GROUP | S$'000 | S$'000 | S$'000 | S$'000 |
Other income: Other income Financial expense: Interest expense: - Bank loans - Obligations under finance leases - Others Total financial expense Depreciation and amortisation: Depreciation of property, plant and equipment | 415 | 1,720 | 2,307 | 4,065 |
Other income: Other income Financial expense: Interest expense: - Bank loans - Obligations under finance leases - Others Total financial expense Depreciation and amortisation: Depreciation of property, plant and equipment | 415 | 1,720 | 2,307 | 4,065 |
Other income: Other income Financial expense: Interest expense: - Bank loans - Obligations under finance leases - Others Total financial expense Depreciation and amortisation: Depreciation of property, plant and equipment | - 1 - | - - - | - 2 - | 7 - 1 |
Other income: Other income Financial expense: Interest expense: - Bank loans - Obligations under finance leases - Others Total financial expense Depreciation and amortisation: Depreciation of property, plant and equipment | 1 | - | 2 | 8 |
Other income: Other income Financial expense: Interest expense: - Bank loans - Obligations under finance leases - Others Total financial expense Depreciation and amortisation: Depreciation of property, plant and equipment | 387 | 929 | 779 | 1,810 |
Other income: Other income Financial expense: Interest expense: - Bank loans - Obligations under finance leases - Others Total financial expense Depreciation and amortisation: Depreciation of property, plant and equipment | 387 | 929 | 779 | 1,810 |
(Co. Regn. No: 200100544H)
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1(a) An income statement (for the group) together with a comparative statement for the corresponding period of the immediately preceding financial year (Cont'd)
1(a)(iii) Additional disclosures
Second Quarter | Year-To-Date | |||||
Q2 2015 | Q2 2014 | Increase/ (Decrease) | 30/06/2015 | 30/06/2014 | Increase/ (Decrease) | |
S$'000 | S$'000 | % | S$'000 | S$'000 | % | |
Interest income Interest expense Gain/(Loss) on disposal of property, plant and equipment Gain/(Loss) on disposal of subsidiary (Provision for)/ Reversal of allowance for doubtful debts Reversal of reinstatement cost Bad debts written off Depreciation and amortisation Foreign exchange gain/(loss) (net) | 26 (2) 14 - (97) 184* (13) (387) (1) | 30 - 1 1,621 (61) - (118) (929) (3) | (13) N.M. N.M. (100) 59 N.M. (89) (58) (66) | 57 (2) 33 - (203) 184* (68) (779) - | 61 (8) (1) 1,621 (109) - (119) (1,810) (3) | (7) (75) N.M. (100) 86 N.M. (43) (57) 100 |
N.M. Not meaningful
* The reversal of reinstatement costs relates to the proposed disposal of the imaging and day surgery businesses and the relinquishing of two floors at levels 7 and 12 Paragon to the buyers.
PACIFIC HEALTHCARE HOLDINGS LTD.(Co. Regn. No: 200100544H)
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1(b)(i) A balance sheet (for the issuer and group), together with a comparative statement as at the end of the immediately preceding financial year.
Group | Company | |||
30/06/2015 | 31/12/2014 | 30/06/2015 | 31/12/2014 | |
S$'000 | S$'000 | S$'000 | S$'000 | |
ASSETS Current assets: Cash and bank Trade and other receivables Other assets Inventories Assets of disposal group classified as held for sale Non-current assets: Investments in subsidiaries Investments in associates Other investments Property, plant and equipment Other assets TOTAL ASSETS EQUITY AND LIABILITIES Current liabilities: Trade and other payables Other liabilities Income tax payable Provision Liabilities directly associated with disposal group classified as held for sale Non-current liabilities: Deferred tax liabilities Provisions Other payables TOTAL LIABILITIES Equity attributable to owners of the company: Share capital Retained earnings Foreign currency translation reserve Non-controlling interests TOTAL EQUITY * TOTAL EQUITY AND LIABILITIES | 1,172 7,188 885 1,170 | 2,737 6,703 679 1,245 | 62 15,173 279 - | 120 10,341 200 - |
ASSETS Current assets: Cash and bank Trade and other receivables Other assets Inventories Assets of disposal group classified as held for sale Non-current assets: Investments in subsidiaries Investments in associates Other investments Property, plant and equipment Other assets TOTAL ASSETS EQUITY AND LIABILITIES Current liabilities: Trade and other payables Other liabilities Income tax payable Provision Liabilities directly associated with disposal group classified as held for sale Non-current liabilities: Deferred tax liabilities Provisions Other payables TOTAL LIABILITIES Equity attributable to owners of the company: Share capital Retained earnings Foreign currency translation reserve Non-controlling interests TOTAL EQUITY * TOTAL EQUITY AND LIABILITIES | 10,415 3,354 | 11,364 3,566 | 15,514 - | 10,661 - |
ASSETS Current assets: Cash and bank Trade and other receivables Other assets Inventories Assets of disposal group classified as held for sale Non-current assets: Investments in subsidiaries Investments in associates Other investments Property, plant and equipment Other assets TOTAL ASSETS EQUITY AND LIABILITIES Current liabilities: Trade and other payables Other liabilities Income tax payable Provision Liabilities directly associated with disposal group classified as held for sale Non-current liabilities: Deferred tax liabilities Provisions Other payables TOTAL LIABILITIES Equity attributable to owners of the company: Share capital Retained earnings Foreign currency translation reserve Non-controlling interests TOTAL EQUITY * TOTAL EQUITY AND LIABILITIES | 13,769 | 14,930 | 15,514 | 10,661 |
ASSETS Current assets: Cash and bank Trade and other receivables Other assets Inventories Assets of disposal group classified as held for sale Non-current assets: Investments in subsidiaries Investments in associates Other investments Property, plant and equipment Other assets TOTAL ASSETS EQUITY AND LIABILITIES Current liabilities: Trade and other payables Other liabilities Income tax payable Provision Liabilities directly associated with disposal group classified as held for sale Non-current liabilities: Deferred tax liabilities Provisions Other payables TOTAL LIABILITIES Equity attributable to owners of the company: Share capital Retained earnings Foreign currency translation reserve Non-controlling interests TOTAL EQUITY * TOTAL EQUITY AND LIABILITIES | - 1,447 - 3,318 470 | - 1,531 - 4,266 1,163 | 3,936 474 - 1,054 - | 3,936 659 - 1,698 - |
ASSETS Current assets: Cash and bank Trade and other receivables Other assets Inventories Assets of disposal group classified as held for sale Non-current assets: Investments in subsidiaries Investments in associates Other investments Property, plant and equipment Other assets TOTAL ASSETS EQUITY AND LIABILITIES Current liabilities: Trade and other payables Other liabilities Income tax payable Provision Liabilities directly associated with disposal group classified as held for sale Non-current liabilities: Deferred tax liabilities Provisions Other payables TOTAL LIABILITIES Equity attributable to owners of the company: Share capital Retained earnings Foreign currency translation reserve Non-controlling interests TOTAL EQUITY * TOTAL EQUITY AND LIABILITIES | 5,235 | 6,960 | 5,464 | 6,293 |
ASSETS Current assets: Cash and bank Trade and other receivables Other assets Inventories Assets of disposal group classified as held for sale Non-current assets: Investments in subsidiaries Investments in associates Other investments Property, plant and equipment Other assets TOTAL ASSETS EQUITY AND LIABILITIES Current liabilities: Trade and other payables Other liabilities Income tax payable Provision Liabilities directly associated with disposal group classified as held for sale Non-current liabilities: Deferred tax liabilities Provisions Other payables TOTAL LIABILITIES Equity attributable to owners of the company: Share capital Retained earnings Foreign currency translation reserve Non-controlling interests TOTAL EQUITY * TOTAL EQUITY AND LIABILITIES | ||||
ASSETS Current assets: Cash and bank Trade and other receivables Other assets Inventories Assets of disposal group classified as held for sale Non-current assets: Investments in subsidiaries Investments in associates Other investments Property, plant and equipment Other assets TOTAL ASSETS EQUITY AND LIABILITIES Current liabilities: Trade and other payables Other liabilities Income tax payable Provision Liabilities directly associated with disposal group classified as held for sale Non-current liabilities: Deferred tax liabilities Provisions Other payables TOTAL LIABILITIES Equity attributable to owners of the company: Share capital Retained earnings Foreign currency translation reserve Non-controlling interests TOTAL EQUITY * TOTAL EQUITY AND LIABILITIES | 19,004 | 21,890 | 20,978 | 16,954 |
ASSETS Current assets: Cash and bank Trade and other receivables Other assets Inventories Assets of disposal group classified as held for sale Non-current assets: Investments in subsidiaries Investments in associates Other investments Property, plant and equipment Other assets TOTAL ASSETS EQUITY AND LIABILITIES Current liabilities: Trade and other payables Other liabilities Income tax payable Provision Liabilities directly associated with disposal group classified as held for sale Non-current liabilities: Deferred tax liabilities Provisions Other payables TOTAL LIABILITIES Equity attributable to owners of the company: Share capital Retained earnings Foreign currency translation reserve Non-controlling interests TOTAL EQUITY * TOTAL EQUITY AND LIABILITIES | 12,072 3,234 225 110 | 12,486 3,197 254 411 | 16,227 491 - 110 | 14,013 434 - 405 |
ASSETS Current assets: Cash and bank Trade and other receivables Other assets Inventories Assets of disposal group classified as held for sale Non-current assets: Investments in subsidiaries Investments in associates Other investments Property, plant and equipment Other assets TOTAL ASSETS EQUITY AND LIABILITIES Current liabilities: Trade and other payables Other liabilities Income tax payable Provision Liabilities directly associated with disposal group classified as held for sale Non-current liabilities: Deferred tax liabilities Provisions Other payables TOTAL LIABILITIES Equity attributable to owners of the company: Share capital Retained earnings Foreign currency translation reserve Non-controlling interests TOTAL EQUITY * TOTAL EQUITY AND LIABILITIES | 15,641 3,621 | 16,348 4,133 | 16,828 - | 14,852 - |
ASSETS Current assets: Cash and bank Trade and other receivables Other assets Inventories Assets of disposal group classified as held for sale Non-current assets: Investments in subsidiaries Investments in associates Other investments Property, plant and equipment Other assets TOTAL ASSETS EQUITY AND LIABILITIES Current liabilities: Trade and other payables Other liabilities Income tax payable Provision Liabilities directly associated with disposal group classified as held for sale Non-current liabilities: Deferred tax liabilities Provisions Other payables TOTAL LIABILITIES Equity attributable to owners of the company: Share capital Retained earnings Foreign currency translation reserve Non-controlling interests TOTAL EQUITY * TOTAL EQUITY AND LIABILITIES | 19,262 | 20,481 | 16,828 | 14,852 |
ASSETS Current assets: Cash and bank Trade and other receivables Other assets Inventories Assets of disposal group classified as held for sale Non-current assets: Investments in subsidiaries Investments in associates Other investments Property, plant and equipment Other assets TOTAL ASSETS EQUITY AND LIABILITIES Current liabilities: Trade and other payables Other liabilities Income tax payable Provision Liabilities directly associated with disposal group classified as held for sale Non-current liabilities: Deferred tax liabilities Provisions Other payables TOTAL LIABILITIES Equity attributable to owners of the company: Share capital Retained earnings Foreign currency translation reserve Non-controlling interests TOTAL EQUITY * TOTAL EQUITY AND LIABILITIES | 29 485 | 29 870 - | - 257 - | - 317 - |
ASSETS Current assets: Cash and bank Trade and other receivables Other assets Inventories Assets of disposal group classified as held for sale Non-current assets: Investments in subsidiaries Investments in associates Other investments Property, plant and equipment Other assets TOTAL ASSETS EQUITY AND LIABILITIES Current liabilities: Trade and other payables Other liabilities Income tax payable Provision Liabilities directly associated with disposal group classified as held for sale Non-current liabilities: Deferred tax liabilities Provisions Other payables TOTAL LIABILITIES Equity attributable to owners of the company: Share capital Retained earnings Foreign currency translation reserve Non-controlling interests TOTAL EQUITY * TOTAL EQUITY AND LIABILITIES | 514 | 899 | 257 | 317 |
ASSETS Current assets: Cash and bank Trade and other receivables Other assets Inventories Assets of disposal group classified as held for sale Non-current assets: Investments in subsidiaries Investments in associates Other investments Property, plant and equipment Other assets TOTAL ASSETS EQUITY AND LIABILITIES Current liabilities: Trade and other payables Other liabilities Income tax payable Provision Liabilities directly associated with disposal group classified as held for sale Non-current liabilities: Deferred tax liabilities Provisions Other payables TOTAL LIABILITIES Equity attributable to owners of the company: Share capital Retained earnings Foreign currency translation reserve Non-controlling interests TOTAL EQUITY * TOTAL EQUITY AND LIABILITIES | ||||
ASSETS Current assets: Cash and bank Trade and other receivables Other assets Inventories Assets of disposal group classified as held for sale Non-current assets: Investments in subsidiaries Investments in associates Other investments Property, plant and equipment Other assets TOTAL ASSETS EQUITY AND LIABILITIES Current liabilities: Trade and other payables Other liabilities Income tax payable Provision Liabilities directly associated with disposal group classified as held for sale Non-current liabilities: Deferred tax liabilities Provisions Other payables TOTAL LIABILITIES Equity attributable to owners of the company: Share capital Retained earnings Foreign currency translation reserve Non-controlling interests TOTAL EQUITY * TOTAL EQUITY AND LIABILITIES | 19,776 | 21,380 | 17,085 | 15,169 |
ASSETS Current assets: Cash and bank Trade and other receivables Other assets Inventories Assets of disposal group classified as held for sale Non-current assets: Investments in subsidiaries Investments in associates Other investments Property, plant and equipment Other assets TOTAL ASSETS EQUITY AND LIABILITIES Current liabilities: Trade and other payables Other liabilities Income tax payable Provision Liabilities directly associated with disposal group classified as held for sale Non-current liabilities: Deferred tax liabilities Provisions Other payables TOTAL LIABILITIES Equity attributable to owners of the company: Share capital Retained earnings Foreign currency translation reserve Non-controlling interests TOTAL EQUITY * TOTAL EQUITY AND LIABILITIES | 62,615 (61,798) (589) | 62,615 (60,254) (533) | 62,615 (58,722) - | 62,615 (60,830) - |
ASSETS Current assets: Cash and bank Trade and other receivables Other assets Inventories Assets of disposal group classified as held for sale Non-current assets: Investments in subsidiaries Investments in associates Other investments Property, plant and equipment Other assets TOTAL ASSETS EQUITY AND LIABILITIES Current liabilities: Trade and other payables Other liabilities Income tax payable Provision Liabilities directly associated with disposal group classified as held for sale Non-current liabilities: Deferred tax liabilities Provisions Other payables TOTAL LIABILITIES Equity attributable to owners of the company: Share capital Retained earnings Foreign currency translation reserve Non-controlling interests TOTAL EQUITY * TOTAL EQUITY AND LIABILITIES | 228 (1,000) | 1,828 (1,318) | 3,893 - | 1,785 - |
ASSETS Current assets: Cash and bank Trade and other receivables Other assets Inventories Assets of disposal group classified as held for sale Non-current assets: Investments in subsidiaries Investments in associates Other investments Property, plant and equipment Other assets TOTAL ASSETS EQUITY AND LIABILITIES Current liabilities: Trade and other payables Other liabilities Income tax payable Provision Liabilities directly associated with disposal group classified as held for sale Non-current liabilities: Deferred tax liabilities Provisions Other payables TOTAL LIABILITIES Equity attributable to owners of the company: Share capital Retained earnings Foreign currency translation reserve Non-controlling interests TOTAL EQUITY * TOTAL EQUITY AND LIABILITIES | (772)* | 510 | 3,893 | 1,785 |
ASSETS Current assets: Cash and bank Trade and other receivables Other assets Inventories Assets of disposal group classified as held for sale Non-current assets: Investments in subsidiaries Investments in associates Other investments Property, plant and equipment Other assets TOTAL ASSETS EQUITY AND LIABILITIES Current liabilities: Trade and other payables Other liabilities Income tax payable Provision Liabilities directly associated with disposal group classified as held for sale Non-current liabilities: Deferred tax liabilities Provisions Other payables TOTAL LIABILITIES Equity attributable to owners of the company: Share capital Retained earnings Foreign currency translation reserve Non-controlling interests TOTAL EQUITY * TOTAL EQUITY AND LIABILITIES | ||||
ASSETS Current assets: Cash and bank Trade and other receivables Other assets Inventories Assets of disposal group classified as held for sale Non-current assets: Investments in subsidiaries Investments in associates Other investments Property, plant and equipment Other assets TOTAL ASSETS EQUITY AND LIABILITIES Current liabilities: Trade and other payables Other liabilities Income tax payable Provision Liabilities directly associated with disposal group classified as held for sale Non-current liabilities: Deferred tax liabilities Provisions Other payables TOTAL LIABILITIES Equity attributable to owners of the company: Share capital Retained earnings Foreign currency translation reserve Non-controlling interests TOTAL EQUITY * TOTAL EQUITY AND LIABILITIES | 19,004 | 21,890 | 20,978 | 16,954 |
*The disposal of the business and assets relating to Pacific Healthcare Imaging announced to SGXNET on 3 August 2015 will result in a gain on sale of S$1.98m and change the net asset value to a positive value of S$1,208,000.
PACIFIC HEALTHCARE HOLDINGS LTD.(Co. Regn. No: 200100544H)
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1(b)(ii) Aggregate amount of group's borrowings and debt securities.
Not Applicable. PACIFIC HEALTHCARE HOLDINGS LTD.(Co. Regn. No: 200100544H)
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1(c) A cash flow statement (for the group), together with a comparative statement for the corresponding period of the immediately preceding financial year.
GROUP | Q2 2015 | Q2 2014 |
GROUP | S$'000 | S$'000 |
Cash flows from operating activities: Profit (Loss) before tax Adjustments for: Depreciation expense Interest income Interest expense Fair value adjustment on financial assets and financial liabilities Bad trade receivables written off Goodwill impairment (Reversal of)/Provision for doubtful debts Reversal of reinstatement cost Impairment loss on other investment Share of results of associates Gain on disposal of property, plant and equipment Fixed asset written off Gain on disposal of subsidiary Loss on disposal of associate Realised exchange (gain)/loss, net Unrealised exchange (gain)/loss, net Operating cash flows before changes in working capital Trade and other receivables Inventories Trade and other payables Cash flows from operations Income tax refund/ (paid) Net cash flows used in operating activities Cash flow from investing activities: Disposal of subsidiary net of cash disposed Disposal of associates net of cash disposed Purchase of property, plant and equipment Proceed from disposal of property, plant and equipment Dividend income from associates Investment in associates Interest received Net cash flows from (used in) investing activities | (1,155) 387 (26) 2 (1) 13 - 97 (184) - (109) (14) 8 - 1 - 1 | 559 929 (30) - 6 118 - 61 - 50 (394) (1) 10 (1,621) - (1,077) 3 |
Cash flows from operating activities: Profit (Loss) before tax Adjustments for: Depreciation expense Interest income Interest expense Fair value adjustment on financial assets and financial liabilities Bad trade receivables written off Goodwill impairment (Reversal of)/Provision for doubtful debts Reversal of reinstatement cost Impairment loss on other investment Share of results of associates Gain on disposal of property, plant and equipment Fixed asset written off Gain on disposal of subsidiary Loss on disposal of associate Realised exchange (gain)/loss, net Unrealised exchange (gain)/loss, net Operating cash flows before changes in working capital Trade and other receivables Inventories Trade and other payables Cash flows from operations Income tax refund/ (paid) Net cash flows used in operating activities Cash flow from investing activities: Disposal of subsidiary net of cash disposed Disposal of associates net of cash disposed Purchase of property, plant and equipment Proceed from disposal of property, plant and equipment Dividend income from associates Investment in associates Interest received Net cash flows from (used in) investing activities | (980) 702 (59) 473 | (1,387) 558 21 (614) |
Cash flows from operating activities: Profit (Loss) before tax Adjustments for: Depreciation expense Interest income Interest expense Fair value adjustment on financial assets and financial liabilities Bad trade receivables written off Goodwill impairment (Reversal of)/Provision for doubtful debts Reversal of reinstatement cost Impairment loss on other investment Share of results of associates Gain on disposal of property, plant and equipment Fixed asset written off Gain on disposal of subsidiary Loss on disposal of associate Realised exchange (gain)/loss, net Unrealised exchange (gain)/loss, net Operating cash flows before changes in working capital Trade and other receivables Inventories Trade and other payables Cash flows from operations Income tax refund/ (paid) Net cash flows used in operating activities Cash flow from investing activities: Disposal of subsidiary net of cash disposed Disposal of associates net of cash disposed Purchase of property, plant and equipment Proceed from disposal of property, plant and equipment Dividend income from associates Investment in associates Interest received Net cash flows from (used in) investing activities | 136 (141) | (1,422) (45) |
Cash flows from operating activities: Profit (Loss) before tax Adjustments for: Depreciation expense Interest income Interest expense Fair value adjustment on financial assets and financial liabilities Bad trade receivables written off Goodwill impairment (Reversal of)/Provision for doubtful debts Reversal of reinstatement cost Impairment loss on other investment Share of results of associates Gain on disposal of property, plant and equipment Fixed asset written off Gain on disposal of subsidiary Loss on disposal of associate Realised exchange (gain)/loss, net Unrealised exchange (gain)/loss, net Operating cash flows before changes in working capital Trade and other receivables Inventories Trade and other payables Cash flows from operations Income tax refund/ (paid) Net cash flows used in operating activities Cash flow from investing activities: Disposal of subsidiary net of cash disposed Disposal of associates net of cash disposed Purchase of property, plant and equipment Proceed from disposal of property, plant and equipment Dividend income from associates Investment in associates Interest received Net cash flows from (used in) investing activities | (5) | (1,467) |
Cash flows from operating activities: Profit (Loss) before tax Adjustments for: Depreciation expense Interest income Interest expense Fair value adjustment on financial assets and financial liabilities Bad trade receivables written off Goodwill impairment (Reversal of)/Provision for doubtful debts Reversal of reinstatement cost Impairment loss on other investment Share of results of associates Gain on disposal of property, plant and equipment Fixed asset written off Gain on disposal of subsidiary Loss on disposal of associate Realised exchange (gain)/loss, net Unrealised exchange (gain)/loss, net Operating cash flows before changes in working capital Trade and other receivables Inventories Trade and other payables Cash flows from operations Income tax refund/ (paid) Net cash flows used in operating activities Cash flow from investing activities: Disposal of subsidiary net of cash disposed Disposal of associates net of cash disposed Purchase of property, plant and equipment Proceed from disposal of property, plant and equipment Dividend income from associates Investment in associates Interest received Net cash flows from (used in) investing activities | - (148) (67) 14 161 - - | 330 - (152) 1 170 (240) - |
Cash flows from operating activities: Profit (Loss) before tax Adjustments for: Depreciation expense Interest income Interest expense Fair value adjustment on financial assets and financial liabilities Bad trade receivables written off Goodwill impairment (Reversal of)/Provision for doubtful debts Reversal of reinstatement cost Impairment loss on other investment Share of results of associates Gain on disposal of property, plant and equipment Fixed asset written off Gain on disposal of subsidiary Loss on disposal of associate Realised exchange (gain)/loss, net Unrealised exchange (gain)/loss, net Operating cash flows before changes in working capital Trade and other receivables Inventories Trade and other payables Cash flows from operations Income tax refund/ (paid) Net cash flows used in operating activities Cash flow from investing activities: Disposal of subsidiary net of cash disposed Disposal of associates net of cash disposed Purchase of property, plant and equipment Proceed from disposal of property, plant and equipment Dividend income from associates Investment in associates Interest received Net cash flows from (used in) investing activities | (40) | 109 |
(Co. Regn. No: 200100544H)
Page 7 of 12
GROUP | Q2 2015 | Q2 2014 |
GROUP | S$'000 | S$'000 |
Cash flow from financing activities: Dividend paid Repayment of obligation under finance leases Capital contribution from non-controlling interests of subsidiary Interest paid Net cash flows from (used in) financing activities Net decrease in cash and cash equivalents Effect of exchange rate changes on cash and cash equivalents Cash and cash equivalents at beginning of period Cash and cash equivalents at end of period | (419) (14) - (2) | - (47) 13 - |
Cash flow from financing activities: Dividend paid Repayment of obligation under finance leases Capital contribution from non-controlling interests of subsidiary Interest paid Net cash flows from (used in) financing activities Net decrease in cash and cash equivalents Effect of exchange rate changes on cash and cash equivalents Cash and cash equivalents at beginning of period Cash and cash equivalents at end of period | (435) | (34) |
Cash flow from financing activities: Dividend paid Repayment of obligation under finance leases Capital contribution from non-controlling interests of subsidiary Interest paid Net cash flows from (used in) financing activities Net decrease in cash and cash equivalents Effect of exchange rate changes on cash and cash equivalents Cash and cash equivalents at beginning of period Cash and cash equivalents at end of period | (480) (1) 2,211 | (1,392) (2) 3,500 |
Cash flow from financing activities: Dividend paid Repayment of obligation under finance leases Capital contribution from non-controlling interests of subsidiary Interest paid Net cash flows from (used in) financing activities Net decrease in cash and cash equivalents Effect of exchange rate changes on cash and cash equivalents Cash and cash equivalents at beginning of period Cash and cash equivalents at end of period | 1,730 | 2,106 |
Cash flow from financing activities: Dividend paid Repayment of obligation under finance leases Capital contribution from non-controlling interests of subsidiary Interest paid Net cash flows from (used in) financing activities Net decrease in cash and cash equivalents Effect of exchange rate changes on cash and cash equivalents Cash and cash equivalents at beginning of period Cash and cash equivalents at end of period |
(Co. Regn. No: 200100544H)
Page 8 of 12
1(d)(i) A statement (for the issuer and group) showing either (i) all changes in equity or (ii) changes in equity other than those arising from capitalisation issues and distributions to shareholders, together with a comparative statement for the corresponding period of the immediately preceding financial year.
GROUP | Attributable to owners of the parent | Non- controlling interests | ||||||||
GROUP | Other reserves | Non- controlling interests | ||||||||
GROUP | Equity, total | Share capital | Retained earnings | Other reserves, total | Foreign currency translation reserve | Fair value adjustment reserve | Reserve of disposal group classified as held for sale | Premium paid on acquisition of non- controlling interests | Non- controlling interests | |
GROUP | Equity, total | Attributable to owners of the parent, total | Share capital | Retained earnings | Other reserves, total | Foreign currency translation reserve | Fair value adjustment reserve | Reserve of disposal group classified as held for sale | Premium paid on acquisition of non- controlling interests | Non- controlling interests |
S$'000 | S$'000 | S$'000 | S$'000 | S$'000 | S$'000 | S$'000 | S$'000 | S$'000 | S$'000 | |
Opening balance at 1 April 2015 Profit/ (loss) for the period Other comprehensive income/ (expense) for the period | 742 (1,183) 90 | 1,938 (1,233) (56) | 62,615 - - | (60,144) (1,233) - | (533) - (56) | (203) (2) | - - | (283) (54) | (47) - | (1,196) 50 146 |
Total comprehensive income/ (expense) for the period | (1,093) | (1,289) | - | (1,233) | (56) | (2) | - | (54) | - | 196 |
Dividend paid | (421) | (421) | - | (421) | - | - | - | - | - | - |
Closing balance at 30 June 2015 | (772) | 228 | 62,615 | (61,798) | (589) | (205) | - | (337) | (47) | (1,000) |
Opening balance at 1 April 2014 Profit/ (loss) for the period Other comprehensive income/ (expense) for the period | 1,441 559 2,576 | 5,188 846 762 | 62,615 - - | (56,649) 846 - | (778) 762 | (736) 767 | 5 (5) | (47) - | (3,747) (287) 1,814 | |
Total comprehensive income/ (expense) for the period | 3,135 | 1,608 | - | 846 | 762 | 767 | (5) | - | 1,527 | |
Closing balance at 30 June 2014 | 4,576 | 6,796 | 62,615 | (55,803) | (16) | 31 | - | (47) | (2,220) |
COMPANY | Equity, Total | Share Capital | Retained earning |
S$'000 | S$'000 | S$'000 | |
Opening balance at 1 April 2015, as restated Profit/ (loss) for the period | 3,841 52 | 62,615 - | (58,774) 52 |
Total comprehensive income/ (expense) for the period | 52 | - | 52 |
Closing balance at 30 June 2015 | 3,893 | 62,615 | (58,722) |
Opening balance at 1 April 2014, as restated Profit/ (loss) for the period | 6,493 4,587 | 62,615 - | (56,122) 4,587 |
Total comprehensive income/ (expense) for the period | 4,587 | - | 4,587 |
Closing balance at 30 June 2014 | 11,080 | 62,615 | (51,535) |
(Co. Regn. No: 200100544H)
Page 9 of 12
1(d)(ii) Details of any changes in the company's share capital arising from rights issue, bonus issue, share buy-backs, exercise of share options or warrants, conversion of other issues of equity securities, issue of shares for cash or as consideration for acquisition or for any other purpose since the end of the previous period reported on. State also the number of shares that may be issued on conversion of all the outstanding
convertibles as well as the number of shares held as treasury shares, if any, against the total number of issued shares excluding treasury shares of the issuer, as at the end of the current financial period reported on and as at the end of the corresponding period
of the immediately preceding financial year.
2015 | 2014 | |||
Number of Ordinary Shares | Share Capital S$'000 | Number of Ordinary Shares | Share Capital S$'000 | |
As at 1 April | 573,742,933 | 62,615 | 573,742,933 | 62,615 |
As at 30 June | 573,742,933 | 62,615 | 573,742,933 | 62,615 |
1(d)(iii) To show the total number of issued shares excluding treasury shares as at the end of the current financial period and as at the end of the immediately preceding year.
30/06/2015 | 31/12/2014 | |
Number of issued shares excluding treasury shares | 573,742,933 | 573,742,933 |
1(d)(iv) A statement showing all sales, transfers, disposal, cancellation and/or use of treasury shares as at the end of the current financial period reported on.
There were no sales, transfers, disposal, cancellation and/or use of treasury shares as at 30 June 2015 (31 December 2014: Nil) as the Company did not have any treasury shares as at 30 June 2015 and 31 December 2014.2. Whether the figures have been audited or reviewed and in accordance with which auditing standard or practice.
The financial statement on consolidated results for the second quarter ended 30 June 2015 have not been audited or reviewed.
3. Where the figures have been audited or reviewed, the auditors' report (including any
qualifications or emphasis of a matter). Not applicable.
4. Whether the same accounting policies and methods of computation as in the issuer's
most recently audited annual financial statements have been applied.
(Co. Regn. No: 200100544H)
Page 10 of 12
5. If there are any changes in the accounting policies and methods of computation, including any required by an accounting standard, what has changed, as well as the reasons for, and the effect of, the change.
Not applicable.6. Earnings per ordinary share of the group for the current financial period reported on and the corresponding period of the immediately preceding financial year, after deducting any provision for preference dividends.
Second Quarter | Year-To-Date | |||
Q2 2015 | Q2 2014 | 30/06/2015 | 30/06/2014 | |
Loss/earnings per ordinary share of the group, after deducting any provision for preference dividends: | ||||
(i) Basic earnings per share | -0.21 cents | 0.14 cents | -0.13 cents | 0.34 cents |
(ii) On a fully diluted basis | -0.21 cents | 0.14 cents | -0.13 cents | 0.34 cents |
7. Net asset value (for the issuer and group) per ordinary share based on the total number of issued shares excluding treasury shares of the issuer at the end of the:
(a) current financial period reported on; and
(b) immediately preceding financial year.
Group | Company | |||
30/06/2015 | 31/12/2014 | 30/06/2015 | 31/12/2014 | |
Net asset value per ordinary share | -0.13 cents * | 0.08 cents | 0.68 cents | 0.31 cents |
*The disposal of the business and assets relating to Pacific Healthcare Imaging announced to SGXNET on 3 August 2015 will result in a gain on sale of S$1.98m and change the net asset value per ordinary share to 0.21 cents.
PACIFIC HEALTHCARE HOLDINGS LTD.(Co. Regn. No: 200100544H)
Page 11 of 12
8. A review of the performance of the group, to the extent necessary for a
reasonable understanding of the group's business. It must include a discussion of the following:
(a) any significant factors that affected the turnover, costs, and earnings of the group for the current financial period reported on, including (where applicable) seasonal or cyclical factors; and
(b) any material factors that affected the cash flow, working capital, assets or liabilities
of the group during the current financial period reported on.
9. Where a forecast, or a prospect statement, has been previously disclosed to shareholders, any variance between it and the actual results.
The Group did not issue any forecast or a prospect statement.10. A commentary at the date of the announcement of the significant trends and competitive conditions of the industry in which the group operates and any known factors or events that may affect the group in the next reporting period and the next 12 months.
The overall environment for the specialist medical business remains competitive, and the strong Singapore dollar has led to foreign patients seeking alternative service providers in the region e.g. Malaysia and Thailand. The nursing home business continues to be profitable and provides a stable source of revenue and cash flow. The current turnaround initiatives are on-going. In the second half of April 2015, the Group had ceased operations of its Indonesian business. On 3 August 2015, the Group announced the sale of its imaging business to Lifescan Imaging Pte Ltd. On 3 July 2015, trading in the Company's securities was suspended pending receipt and completion of an exit offer. PACIFIC HEALTHCARE HOLDINGS LTD.(Co. Regn. No: 200100544H)
Page 12 of 12
11. Dividend
(a) Current Financial Period Reported On
Any interim (final) dividend declared (recommended) for the current financial period reported on? No
(b) Corresponding Period of the Immediately Preceding Financial Year
Any dividend declared for the corresponding period of the immediately preceding financial year? No
(c) Date payable
Not Applicable.(d) Books closure date
Not Applicable.12. If no dividend has been declared/recommended, a statement to that effect.
No dividend has been declared or recommended for the quarter ended 30 Jun 2015.13. It the Group has obtained a general mandate from shareholders for IPTs , the aggregate value of such transactions as required under Rule 920(1) (a) (ii) . If no IPT mandate has been obtained, a statement to that effect.
The Group does not have a general mandate from shareholders for interested person transactions pursuant to Rule 920(1)(a)(ii)14. Confirmation pursuant to Rule 705 (5) of the Listing Manual
The Board of Directors hereby confirms that, to the best of their knowledge, nothing has come to their attention which may render the unaudited financial statements of the Group and the Company for the period ended 30 June 2015 to be false or misleading in any material aspect.BY ORDER OF THE BOARD
Wong Yee Kong (Andrew) Chief Executive Officer
12 August 2015
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