Wheelock Properties Singapore : 2nd Quarter Ended 30 June 2017 Financial Statement Announcement

Co. Reg. No. 197201797H (Incorporated in the Republic of Singapore)

ITEM NO.	DESCRIPTION	PAGE NO.
1(a)(i) 1(a)(ii) 1(a)(iii) 1(b)(i) 1(c) 1(d)(i) 1(d)(ii) 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16	CONSOLIDATED STATEMENT OF PROFIT OR LOSS CONSOLIDATED STATEMENT OF COMPREHENSIVE INCOME NOTES TO THE CONSOLIDATED STATEMENT OF PROFIT OR LOSS STATEMENTS OF FINANCIAL POSITION CONSOLIDATED STATEMENT OF CASH FLOWS STATEMENTS OF CHANGES IN EQUITY SHARE CAPITAL AUDIT OR REVIEW OF RESULTS BY AUDITORS AUDITORS' REPORT BASIS OF PREPARATION EFFECT OF CHANGES IN ACCOUNTING POLICIES AND METHODS EARNINGS PER SHARE NET ASSET VALUE PER SHARE REVIEW OF PERFORMANCE FORECAST STATEMENT CURRENT YEAR'S PROSPECTS DIVIDEND SEGMENTAL INFORMATION COMMENTS ON SEGMENT RESULTS INTERESTED PERSON TRANSACTIONS CONFIRMATION BY THE BOARD CONFIRMATION PURSUANT TO RULE 720(1) OF THE LISTING MANUAL	2 3 4 5 6 9 11 12 12 12 12 12 12 12 13 14 14 14 17 17 17 17

UNAUDITED RESULTS FOR THE SECOND QUARTER ENDED 30 JUNE 2017 TABLE OF CONTENTS

WHEELOCK PROPERTIES (SINGAPORE) LIMITED

(Incorporated in the Republic of Singapore)

1(a)(i) CONSOLIDATED STATEMENT OF PROFIT OR LOSS

Quarter ended			Six-month ended
30 Jun 2017	30 Jun 2016	Change	30 Jun 2017	30 Jun 2016	Change
$'000	$'000	%	$'000	$'000	%
Revenue Cost of sales	128,732 (82,028)	300,930 (253,305)	(57.2) (67.6)	222,467 (159,670)	392,706 (329,555)	(43.4) (51.5)
Gross profit	46,704	47,625	(1.9)	62,797	63,151	(0.6)
Other income	1,505	4,243	(64.5)	2,925	6,104	(52.1)
Selling and marketing
expenses	(2,678)	(5,695)	(53.0)	(5,135)	(7,120)	(27.9)
Administrative and
corporate expenses	(3,672)	(3,825)	(4.0)	(7,510)	(6,983)	7.5
Other operating expenses	178	(628)	(128.3)	(180)	(1,298)	(86.1)
Finance costs	0	(782)	(100.0)	0	(1,754)	(100.0)
Share of profit of
associates, net of tax	2,513	729	244.7	3,521	2,270	55.1
Profit before taxation	44,550	41,667	6.9	56,418	54,370	3.8
Tax expense	(8,054)	(6,383)	26.2	(9,867)	(7,943)	24.2
Profit for the period	36,496	35,284	3.4	46,551	46,427	0.3

1(a)(ii) CONSOLIDATED STATEMENT OF COMPREHENSIVE INCOME

Quarter ended			Six-month ended
30 Jun 2017	30 Jun 2016	Change	30 Jun 2017	30 Jun 2016	Change
$'000	$'000	%	$'000	$'000	%
Profit for the period Other comprehensive income: Items that may be reclassified subsequently to profit or loss: Available-for-sale financial assets - net change in fair value - transfer to profit or loss on disposal Exchange differences arising on consolidation of foreign subsidiaries Share of other comprehensive income of associates, net of tax Other comprehensive income for the period, net of income tax	36,496	35,284	3.4	46,551	46,427	0.3
	34,837	(9,195)	478.9	63,224	(14,125)	547.6
	0	(2,784)	(100.0)	0	(2,777)	(100.0)
	(288)	(7,270)	(96.0)	(7,848)	(18,385)	(57.3)
	5,502	(190)	NM	3,520	(4,338)	181.1
	40,051	(19,439)	306.0	58,896	(39,625)	248.6
Total comprehensive income for the period	76,547	15,845	383.1	105,447	6,802	NM

1(a)(iii) NOTES TO THE CONSOLIDATED STATEMENT OF PROFIT OR LOSS

The following items have been charged or (credited) in arriving at profit for the period:

Quarter ended			Six-month ended
30 Jun 2017	30 Jun 2016	Change	30 Jun 2017	30 Jun 2016	Change
$'000	$'000	%	$'000	$'000	%
Interest income Gain on disposal of investments Gain on disposal of property, plant and equipment Others Other income Exchange loss (net) - net change in fair value of forward exchange contracts - others Write-back of impairment loss on trade receivables Write-back of diminution in value of a development property Changes in fair value on investment properties Loss on disposal of other assets Others Other operating expenses Depreciation of property, plant and equipment Dividend income from investment Interest income from investments Under/(Over) provision of tax in prior years	(833)	(971)	(14.2)	(1,654)	(2,353)	(29.7)
	0	(2,784)	(100.0)	0	(2,777)	(100.0)
	0	(1)	(100.0)	0	(1)	(100.0)
	(672)	(487)	38.0	(1,271)	(973)	30.6
	(1,505)	(4,243)	(64.5)	(2,925)	(6,104)	(52.1)
	(992)	1,064	(193.2)	(948)	(668)	41.9
	1,841	(772)	338.5	1,708	761	124.4
	849	292	190.8	760	93	717.2
	(49)	(40)	22.5	(49)	(40)	22.5
	(1,300)	0	NA	(1,300)	0	NA
	108	343	(68.5)	544	1,210	(55.0)
	94	0	NA	94	0	NA
	120	33	263.6	131	35	274.3
	(178)	628	(128.3)	180	1,298	(86.1)
	48	56	(14.3)	94	127	(26.0)
	(4,975)	(3,932)	26.5	(4,975)	(3,932)	26.5
	(1,589)	(2,417)	(34.3)	(3,184)	(5,230)	(39.1)
	30	0	NA	(324)	(198)	63.6

NA: Not Applicable NM: Not Meaningful