Asiaone 1-42

FINANCIAL STATEMENTS
Balance Sheets as at August 31, 1997, 1998, 1999, November 30, 1999 and February
29, 2000
119
Proforma Company
November February
August 31, 30, 29,
(All figures in thousands) Note 1997 1998 1999 1999 2000
Assets
Current assets
S$ S$ S$ S$ S$
Cash and bank balances — 126 413 149 26
Time deposits — — — — 3,500
Trade debtors 11 568 571 874 157 898
Accrued revenue — 205 220 — 305
Other debtors
Due from holding company and
80 45 90 37 231
related company 12 — — — — 579
Total current assets 648 947 1,597 343 5,539
Other assets
Fixed assets 13 1,652 1,632 1,689 1,820 4,200
Other non-current assets 92 15 1 166 —
Total other assets 1,744 1,647 1,690 1,986 4,200
Total assets 2,392 2,594 3,287 2,329 9,739
Liabilities and
shareholders’ equity
Current liabilities
Trade creditors
Due to holding company and
14 1,325 1,284 594 1 1,976
related company 12 6,373 5,909 7,830 7,345 24
Total liabilities 7,698 7,193 8,424 7,346 2,000
Shareholders’ equity
Share capital 15 — — — — 10,000 1
Accumulated losses (5,306) (4,599) (5,137) (5,017) (2,261)
Total shareholders’ equity (5,306) (4,599) (5,137) (5,017) 7,739
Total liabilities and
shareholders’ equity 2,392 2,594 3,287 2,329 9,739
Note:
1 On March 15, 2000, the issued share capital was increased to S$50,000,000. (Refer to note 21 to the financial
statements)
On April 4, 2000, the authorised share capital of 1,000,000,000 ordinary shares of S$0.10 each and the issued
share capital of 500,000,000 ordinary shares of S$0.10 each were sub-divided into 2,000,000,000 and 1,000,000,000
ordinary shares of S$0.05 each respectively. (Refer to note 21 to the financial statements)
The accompanying notes form an integral part of the financial statements.