|
|
Condensed Statement of Financial Position as at 31 March, 2009
|
CURRENT ASSETS |
Notes |
31 March
2009
(reviewed) |
31 Dec
2008
(audited) |
Cash and bank balances |
|
1,406,100 |
1,011,210 |
Short-term bank deposits |
|
7,078,397 |
6,330,595 |
Trade receivables |
|
862,467 |
924,915 |
Inventory |
|
55,213 |
54,649 |
Prepayments and other receivables |
|
182,332 |
194,167 |
TOTAL CURRENT ASSETS |
|
9,584,509 |
8,515,536 |
NON-CURRENT ASSETS |
|
|
|
Available-for-sale investments |
|
3,378,407 |
3,992,719 |
Investment in associate company |
|
2,579,996 |
2,666,311 |
Investment property |
|
1,275,098 |
1,287,665 |
Property and equipment |
|
12,204,389 |
12,058,570 |
| Total non-current assets |
|
19,437,890 |
20,005,265 |
TOTAL ASSETS |
|
29,022,399 |
28,520,801 |
CURRENT LIABILITIES |
|
|
|
Trade payables |
|
627,267 |
515,903 |
Accrued expenses and other payables |
|
1,055,619 |
1,101,039 |
| Dividends payable |
|
1,560,378 |
246,757 |
| |
|
|
|
TOTAL CURRENT LIABILITIES |
|
3,243,264 |
1,863,699 |
NON-CURRENT LIABILITIES |
|
|
|
Provision for employees’ leaving indemnity |
|
242,924 |
220,665 |
| TOTAL LIABILITIES |
|
3,486,188 |
2,084,364 |
TOTAL NET ASSETS |
|
25,536,211 |
26,436,437 |
EQUITY |
|
|
|
Share capital |
|
7,200,000 |
7,200,000 |
| Treasury shares |
|
(878,008) |
(844,008) |
| Statutory reserve |
|
3,600,000 |
3,241,705 |
| Capital and development reserves |
|
5,371,637 |
5,729,932 |
| Investments fair value reserve |
|
1,878,481 |
2,374,822 |
Retained earnings |
|
8,364,101 |
8,733,986 |
TOTAL EQUITY |
|
25,536,211 |
26,436,437 |
|
|
|
|
|
| |
|
31 March |
31 March |
|
Notes |
2009
(reviewed) |
2008
(reviewed) |
| HOTEL OPERATIONS |
|
|
|
Sales |
|
2,328,027 |
2,367,784 |
Operating costs |
|
(1,203,428) |
(1,237,935) |
|
PROFIT BEFORE DEPRECIATION |
|
1,124,599 |
1,129,849 |
Depreciation of hotel and conference center |
|
(289,605) |
(280,598) |
Profit from hotel operations |
|
834,994 |
849,251 |
INVESTMENT INCOME / (EXPENSES) |
Dividend income |
|
145,225 |
134,542 |
| Gain on sale of investments |
|
- |
11,360 |
| Provision for impairment on investments |
|
(115,892) |
- |
| Share of profit of associate |
|
213,685 |
216,334 |
| Interest on short-term deposits |
|
49,856 |
39,916 |
| Property income |
|
72,544 |
59,950 |
| Property expenses |
|
(3,219) |
(6,101) |
| Depreciation of investment property |
|
(12,567) |
(12,381) |
| Foreign exchange translation adjustments |
|
(3,461) |
(3,496) |
| Other income |
|
1,703 |
10,546 |
|
|
|
|
| NET INVESTMENT INCOME |
|
347,874 |
450,670 |
| TOTAL INCOME |
|
1,182,868 |
1,299,921 |
General and administrative expenses |
|
(152,434) |
(126,343) |
|
| PROFIT FOR THE PERIOD |
|
1,030,434 |
1,173,578 |
|
| Other comprehensive income |
|
|
|
Fair value reserve (Available for sale investments): |
|
|
| Net change in fair value |
|
(612,233) |
465,902 |
| Transfer to income statement |
|
115,892 |
(10,260) |
| |
|
|
|
| Other comprehensive (loss) / income for the period |
|
(496,341) |
455,642 |
|
|
|
|
TOTAL COMPREHENSIVE INCOME FOR THE PERIOD |
|
534,093 |
1,629,220 |
| Earnings per 100 fils share |
|
15.6Â fils |
17.7 fils |
|
| |
|
|
|
