TEE Land Limited
Incorporated in the Republic of Singapore Company Registration No: 201230851R
Unaudited Second Quarter Financial Statement and Dividend Announcement for the Period Ended 30 November 2016PART I - INFORMATION REQUIRED FOR ANNOUNCEMENTS OF QUARTERLY (Q1, Q2 & Q3), HALF-YEAR AND FULL YEAR RESULTS
1(a)(i) An income statement for the group together with a comparative statement for the corresponding period of the immediately preceding financial yearThe Group S$'000 | Increase/ (Decrease) % | The Group S$'000 | Increase/ (Decrease) % | ||
Second Quarter Ended | Half Year Ended | ||||
30/11/2016 | 30/11/2015 | 30/11/2016 | 30/11/2015 | ||
24,029 (17,418) | 9,842 (6,173) | 144.1 182.2 | 37,807 (27,278) | 13,194 (7,713) | 186.5 253.7 |
6,611 | 3,669 | 80.2 | 10,529 | 5,481 | 92.1 |
407 | 780 | (47.8) | 1,040 | 1,494 | (30.4) |
(874) | (592) | 47.6 | (1,488) | (921) | 61.6 |
(2,138) | (2,841) | (24.7) | (4,956) | (5,565) | (10.9) |
(171) | (345) | (50.4) | (171) | (1,122) | (84.8) |
(682) | 2,405 | N.M | 113 | 5,399 | (97.9) |
(1,468) | (1,223) | 20.0 | (2,926) | (2,319) | 26.2 |
1,685 | 1,853 | (9.1) | 2,141 | 2,447 | (12.5) |
(598) | (306) | 95.4 | (630) | (40) | N.M. |
1,087 | 1,547 | (29.7) | 1,511 | 2,407 | (37.2) |
Other operating income Selling and distribution costs Administrative expenses Other operating expenses Share of results of associates Finance costs
690 397 | 1,504 43 | (54.1) N.M. | 1,287 224 | 2,389 18 | (46.1) N.M. |
1,087 | 1,547 | (29.7) | 1,511 | 2,407 | (37.2) |
Owners of the Company Non-controlling interests
1(a)(ii) A statement of comprehensive income for the group together with a comparative statement for the corresponding period of the immediately preceding financial yearThe Group S$'000 | Increase/ (Decrease) % | The Group S$'000 | Increase/ (Decrease) % | ||
Second Quarter Ended | Half Year Ended | ||||
30/11/2016 | 30/11/2015 | 30/11/2016 | 30/11/2015 | ||
1,087 | 1,547 | (29.7) | 1,511 | 2,407 | (37.2) |
1,324 | 738 | 79.4 | 2,359 | (819) | N.M. |
2,411 | 2,285 | 5.5 | 3,870 | 1,588 | 143.7 |
Profit for the period
Other comprehensive income for the period:
Currency translation differences Total comprehensive income for the
period
N.M.-not meaningful
1(a)(ii) A statement of comprehensive income for the group together with a comparative statement for the corresponding period of the immediately preceding financial year (Continued)The Group S$'000 | Increase/ (Decrease) % | The Group S$'000 | Increase/ (Decrease) % | ||
Second Quarter Ended | Half Year Ended | ||||
30/11/2016 | 30/11/2015 | 30/11/2016 | 30/11/2015 | ||
1,381 1,030 | 2,109 176 | (34.5) 485.2 | 2,640 1,230 | 1,654 (66) | 59.6 N.M. |
2,411 | 2,285 | 5.5 | 3,870 | 1,588 | 143.7 |
Owners of the Company Non-controlling interests
1(a)(iii) Notes to the income statementThe Group S$'000 | Increase/ (Decrease) % | The Group S$'000 | Increase/ (Decrease) % | ||
Second Quarter Ended | Half Year Ended | ||||
30/11/2016 | 30/11/2015 | 30/11/2016 | 30/11/2015 | ||
262 | 350 | (25.1) | 578 | 693 | (16.6) |
(166) | 96 | N.M. | - | 378 | N.M. |
265 | 87 | 204.6 | 361 | 157 | 129.9 |
- | 180 | N.M. | - | 180 | N.M. |
46 | 67 | (31.3) | 101 | 86 | 17.4 |
407 | 780 | (47.8) | 1,040 | 1,494 | (30.4) |
982 | 737 | 33.2 | 1,948 | 1,341 | 45.3 |
486 | 486 | N.M. | 978 | 978 | N. M. |
1,468 | 1,223 | 20.0 | 2,926 | 2,319 | 26.2 |
46 | 46 | N.M. | 91 | 91 | N.M. |
581 | 220 | 164.1 | 902 | 223 | 304.5 |
96 | 179 | (46.4) | 252 | 284 | (11.3) |
- | - | N.M. | - | 2 | N.M. |
- | (2) | N.M. | - | (2) | N.M. |
102 | 779 | (86.9) | 864 | 1,461 | (40.9) |
171 | 348 | (50.9) | 171 | 1,122 | (84.8) |
(5) | (4) | 25.0 | (5) | 16 | N.M. |
A Other operating income: Interest income
Foreign currency exchange adjustment (loss) gain Financial guarantee income
Liquidated damages received Others
Finance costs: Loan interests Term note interest
Amortisation of issuance costs on term notes
Amortisation of deferred sales commission expenses
Amortisation of show flat expenses
Allowance for doubtful debt on trade receivable
Write back of allowance for doubtful debt on trade receivable
Depreciation of property, plant and equipment
Foreign currency exchange adjustment loss
Adjustment for (over) under provision of income tax in respect of prior years
N.M.-not meaningful
1(b)(i) A statement of financial position (for the issuer and group), together with a comparative statement as at the end of the immediately preceding financial yearThe Group S$'000
The Company S$'000
30/11/2016
31/05/2016
30/11/2016
31/05/2016
28,409
26,368
9,154
6,770
8,724
7,933
-
-
14,042
24,846
139,064
150,443
20,757
22,895
2,840
2,950
23
16
-
-
156,077
113,796
-
-
44,507
46,231
-
-
75,218
-
-
-
347,757
242,085
151,058
160,163
44,298
47,667
-
-
-
-
32,486
20,795
23,748
89,961
-
-
12,588
11,717
-
-
3,173
2,643
-
-
6,000
6,000
2,071
-
6,373
5,883
-
-
96,180
163,871
34,557
20,795
443,937
405,956
185,615
180,958
3,114
3,114
1,615
1,615
14,987
11,651
-
-
29,048
25,627
9,737
2,011
11
12
-
-
29,858
23,324
-
-
266
382
1,222
1,218
-
4,050
-
-
29,849
-
29,849
-
2,847
3,465
10
27
109,980
71,625
42,433
4,871
43
51
-
-
228
210
-
-
156,073
132,213
-
-
-
29,758
-
29,758
386
631
1,440
1,878
1,989
-
-
-
158,719
162,863
1,440
31,636
142,238
142,238
142,238
142,238
(952)
(2,305)
-
-
(5,969)
(5,969)
-
-
(6)
(6)
-
-
23,506
24,051
(496)
2,213
158,817
158,009
141,742
144,451
16,421
13,459
-
-
175,238
171,468
141,742
144,451
443,937
405,956
185,615
180,958
ASSETS
Current assetsCash and bank balances Trade receivables
Other receivables
Current portion of loans receivable from associates Inventories
Development properties
Completed properties and land held for sale Assets classified as held for sale
Total current assets
Non-current assets Investment in associates Investment in subsidiaries Property, plant and equipment Investment properties Deferred tax assetsOther receivables
Loans receivable from associates Total non-current assets
Total assetsLIABILITIES AND EQUITY
Current liabilitiesBank loans Trade payables
Current portion of other payables Current portion of finance lease Current portion of long-term borrowings
Current portion of financial guarantee liabilities Current portion of long-term loan
Term note
Income tax payable Total current liabilities
Non-current liabilities Finance lease Deferred tax liabilities Long-term bank loans Term notesFinancial guarantee liabilities Other payables
Total non-current liabilities
Capital, reserves and non-controlling interestsShare capital
Currency translation reserve Merger reserve
Capital reserve Accumulated profits/(loss)
Equity attributable to owners of the Company Non-controlling interests
Total equity
Total liabilities and equity 1(b)(ii) Aggregate amount of group's borrowings and debt securities Amount repayable in one year or less, or on demandThe Group The Group
S$'000 S$'000
As at 30/11/2016 As at 31/05/2016
Secured Unsecured Secured Unsecured
32,983 29,849 26,450 -
Amount repayable after one yearThe Group The Group
S$'000 S$'000
As at 30/11/2016 As at 31/05/2016
Secured Unsecured Secured Unsecured
156,116 - 132,264 29,758
Details of any collateralThe total secured borrowings included the following:
Obligations under finance lease secured on the motor vehicle of the Group and
Bank loans and long-term bank loans secured by legal mortgages over the Group's development properties, property, investment properties, fixed deposit and corporate guarantee from the holding company.
Note: As at 31/05/2016, these borrowings exclude the long-term loan of S$4,050,000 due to former joint developer.
1(c) A statement of cash flows (for the group), together with a comparative statement for the corresponding period of the immediately preceding financial yearThe Group S$'000 | The Group S$'000 | ||
Second Quarter Ended | Half Year Ended | ||
30/11/2016 | 30/11/2015 | 30/11/2016 | 30/11/2015 |
1,685 | 1,853 | 2,141 | 2,447 |
682 | (2,405) | (113) | (5,399) |
102 | 779 | 864 | 1,461 |
(265) | (87) | (361) | (157) |
46 | 46 | 91 | 91 |
581 | 220 | 902 | 223 |
96 | 179 | 252 | 284 |
- | - | - | 2 |
- | (2) | - | (2) |
(262) | (350) | (578) | (693) |
1,468 | 1,223 | 2,926 | 2,319 |
(117) | - | (217) | - |
4,016 | 1,456 | 5,907 | 576 |
68 | 17,405 | (861) | 27,215 |
(1,253) | (610) | 9,340 | (2,265) |
(4) | (3) | (6) | (2) |
(10,604) | (12,700) | (30,923) | (15,457) |
(11,500) | - | (11,500) | - |
1,724 | - | 1,724 | - |
2,855 | 8,403 | 3,604 | 6,046 |
12,615 | 2,525 | 5,677 | 3,435 |
(2,083) | 16,476 | (17,038) | 19,548 |
(2,672) | (2,390) | (4,325) | (3,656) |
(1,052) | (44) | (1,688) | (73) |
- | 280 | - | 280 |
(5,807) | 14,322 | (23,051) | 16,099 |
Share of results of associates
Depreciation of property, plant and equipment Amortisation of financial guarantee liabilities Amortisation of issuance costs on term notes Amortisation of deferred sales commission expenses Amortisation of show flat expenses
Allowance for doubtful receivables
Write back of allowance for doubtful trade receivables Interest income
Interest expense
Unrealised currency translation loss
Operating cash flows before movements in working capital Trade receivables
Other receivables Inventories Development properties
Acquisition of development property Completed property held by sale Trade payables
Other payables
Cash (used in) from operations Interest paid
Income tax paid Income tax refund
Net cash (used in) from operating activities
TEE Land Ltd. published this content on 11 January 2017 and is solely responsible for the information contained herein.
Distributed by Public, unedited and unaltered, on 11 January 2017 10:08:09 UTC.
Original documenthttp://www.teeland.com.sg/attachment/2017011117440263231419.pdf
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