|
|
Condensed Statement of Financial Position as at 30 June, 2009
|
CURRENT ASSETS |
Notes |
30 June
2009
(reviewed) |
31 Dec
2008
(audited) |
Cash and bank balances |
|
977,126 |
1,011,210 |
Short-term bank deposits |
|
6,964,656 |
6,330,595 |
Trade receivables |
|
740,052 |
924,915 |
Inventory |
|
54,132 |
54,649 |
Prepayments and other receivables |
|
196,649 |
194,167 |
TOTAL CURRENT ASSETS |
|
8,932,615 |
8,515,536 |
NON-CURRENT ASSETS |
|
|
|
Available-for-sale investments |
|
3,352,824 |
3,992,719 |
Investment in associate company |
|
2,836,901 |
2,666,311 |
Investment property |
|
1,262,531 |
1,287,665 |
Property and equipment |
|
11,925,970 |
12,058,570 |
| Total non-current assets |
|
19,378,226 |
20,005,265 |
TOTAL ASSETS |
|
28,310,841 |
28,520,801 |
CURRENT LIABILITIES |
|
|
|
Trade payables |
|
363,572 |
515,903 |
Accrued expenses and other payables |
|
995,289 |
1,101,039 |
| Dividends payable |
|
270,086 |
246,757 |
| |
|
|
|
TOTAL CURRENT LIABILITIES |
|
1,628,947 |
1,863,699 |
NON-CURRENT LIABILITIES |
|
|
|
Provision for employees’ leaving indemnity |
|
239,121 |
220,665 |
| TOTAL LIABILITIES |
|
1,868,068 |
2,084,364 |
TOTAL NET ASSETS |
|
26,442,773 |
26,436,437 |
EQUITY |
|
|
|
Share capital |
|
7,200,000 |
7,200,000 |
| Treasury shares |
|
(918,195) |
(844,008) |
| Statutory reserve |
|
3,600,000 |
3,241,705 |
| Capital and development reserves |
|
5,371,637 |
5,729,932 |
| Investments fair value reserve |
|
2,036,996 |
2,374,822 |
Retained earnings |
|
9,152,335 |
8,733,986 |
TOTAL EQUITY |
|
26,442,773 |
26,436,437 |
|
|
|
|
|
| HOTEL OPERATIONS |
Three
months
ended 30 June
2009
(Reviewed) |
Three months
ended 30 June
2008
(Reviewed) |
Six months
ended 30 June
2009
(Reviewed) |
Six months
ended 30 June
2008
Reviewed) |
Sales
|
2,148,264 |
2,721,406 |
4,476,291 |
5,089,191 |
Operating Costs
|
(1,215,790) |
(1,411,638) |
(2,419,218) |
(2,649,574) |
PROFIT BEFORE DEPRECIATION
|
932,474 |
1,309,768 |
2,057,073 |
2,439,617 |
Depreciation of Hotel and Conference Center
|
(290,024) |
(283,940) |
(579,629) |
(564,538) |
PROFIT FROM HOTEL OPERATIONS
|
642,450 |
1,025,828 |
1,477,444 |
1,875,079 |
| INVESTMENT INCOME / ( EXPENSES) |
Dividend Income
|
18,377 |
13,813 |
163,602 |
148,355 |
Gain on sale of investments
|
- |
6,920 |
- |
18,280 |
| Provision for impairment on investments |
(7,100) |
- |
(122,992) |
- |
| Share of profit of associate |
74,870 |
302,664 |
288,555 |
518,998 |
| Interest on short-term deposits |
43,491 |
14,530 |
93,347 |
54,446 |
| Property income |
79,743 |
63,349 |
152,287 |
123,299 |
| Property expenses |
(6,035) |
(10,681) |
(9,254) |
(16,782) |
| Depreciation of investment property |
(12,567) |
(12,347) |
(25,134) |
(24,728) |
| Foreign exchange translation adjustments |
18,767 |
1,705 |
15,306 |
(1,791) |
| Other income |
10,445 |
27,470 |
12,148 |
38,016 |
NET INVESTMENT INCOME
|
219,991 |
407,423 |
567,865 |
858,093 |
| General and Administration expenses |
(74,207) |
(78,202) |
(226,641) |
(204,546) |
| PROFIT FOR THE PERIOD |
788,234 |
1,355,049 |
1,818,668 |
2,528,626 |
| |
|
|
|
|
| Other comprehensive income |
|
|
|
|
| Fair value reserve (Available for sale investments): |
|
|
|
| Net change in fair value |
(30,617) |
(18,051) |
(642,850) |
447,851 |
| Transfer to income statement |
7,100 |
- |
122,992 |
(10,260) |
| Transfer to income statement from fair value reserve of associate |
182,032 |
- |
182,032 |
- |
| Other comprehensive income / (loss) for the period |
158,515 |
(18,051) |
(337,826) |
437,591 |
|
|
|
|
|
Total comprehensive income for the period
|
946,749 |
1,336,998 |
1,480,842 |
2,966,217 |
| Earnings per share of 100 fils for the period |
11.9 fils |
20.3 fils |
27.5 fils |
38 fils |
|
| |
|
|
|
