Powering growth - Aztech Group Ltd - Investor Relations
Powering growth - Aztech Group Ltd - Investor Relations Powering growth - Aztech Group Ltd - Investor Relations
94a z t e c h a n n u a l r e p o r t 2 0 0 9F i n a n c i a l S t a t e m e n t s25 REVENUEGROUP2009 2008$’000 $’000Sales of electronic products 180,098 252,990Supply of building construction materials 96,551 23,463Marine logistic services 3,107 -Sales of food products 511 -280,267 276,45326 OTHER OPERATING INCOMEGROUP2009 2008$’000 $’000Rental income 2,273 1,909Interest income 159 657Exchange gain 1,158 -Gain on revaluation of currency derivatives 565 337Gain from fair value adjustments of investment properties 1,144 -Others 490 630Total 5,789 3,53327 FINANCE COSTSGROUP2009 2008$’000 $’000Bank charges 329 367Interest expense for:Bills payable and short-term trade loans 549 824Finance leases 64 185Vessel loans 454 66Revolving loans, terms loans and bank loansfor Shenzhen office property 650 817Total 2,046 2,259
F i n a n c i a l S t a t e m e n t sa z t e c h a n n u a l r e p o r t 2 0 0 99528 INCOME TAXGROUP2009 2008$’000 $’000Current tax - Singapore - 1,064- Foreign 765 1,350Overprovision in prior years - current tax (763) (265)Deferred tax charge (credit) relating to theorigination and reversal of temporary differences 2,636 (1,764)Under-recognition of deferred tax in prior years (18) -Net 2,620 385Domestic income tax is calculated at 17% (2008 : 18%) of the estimated assessable profit for the year. Taxation for other jurisdictions iscalculated at the rates prevailing in the relevant jurisdictions.The total charge for the year can be reconciled to the accounting profit as follows:GROUP2009 2008$’000 $’000Profit before income tax 18,038 12,618Income tax expense of statutory rate 3,066 2,271Effects of different tax rates of overseas subsidiaries 272 222Effects of change in tax rate 7 (1)Revenue exempt from taxation (1,144) (141)Effects of tax concession (126) (794)Group relief 352 -Non-allowable items 435 491Deferred tax benefit not recognised 2 127Effect of undistributed profits of an overseas subsidiary 109 62Effect of previously unused tax losses recognised as deferred tax assets (27) (728)Utilisation of deferred tax benefits previously not recognised (78) (890)Overprovision in prior years (763) (265)Others 515 31Total income tax expense 2,620 385In 2006, the Company was granted the International Headquarters (“IHQ”) status effective from January 1, 2007 for a period of 5 years subject tothe fulfilment of certain terms and conditions by December 31, 2008. The income from the qualifying IHQ activities was taxed at a concessionaryrate of 10% for the current financial year.During the year, the Company’s IHQ status had been transferred to its subsidiary after the Group’s internal reorganisation with effect from May 1,2009.
- Page 45 and 46: F i n a n c i a l S t a t e m e n t
- Page 47 and 48: F i n a n c i a l S t a t e m e n t
- Page 49 and 50: F i n a n c i a l S t a t e m e n t
- Page 51 and 52: F i n a n c i a l S t a t e m e n t
- Page 53 and 54: F i n a n c i a l S t a t e m e n t
- Page 55 and 56: F i n a n c i a l S t a t e m e n t
- Page 57 and 58: F i n a n c i a l S t a t e m e n t
- Page 59 and 60: F i n a n c i a l S t a t e m e n t
- Page 61 and 62: F i n a n c i a l S t a t e m e n t
- Page 63 and 64: F i n a n c i a l S t a t e m e n t
- Page 65 and 66: F i n a n c i a l S t a t e m e n t
- Page 67 and 68: F i n a n c i a l S t a t e m e n t
- Page 69 and 70: F i n a n c i a l S t a t e m e n t
- Page 71 and 72: F i n a n c i a l S t a t e m e n t
- Page 73 and 74: F i n a n c i a l S t a t e m e n t
- Page 75 and 76: F i n a n c i a l S t a t e m e n t
- Page 77 and 78: F i n a n c i a l S t a t e m e n t
- Page 79 and 80: F i n a n c i a l S t a t e m e n t
- Page 81 and 82: F i n a n c i a l S t a t e m e n t
- Page 83 and 84: F i n a n c i a l S t a t e m e n t
- Page 85 and 86: F i n a n c i a l S t a t e m e n t
- Page 87 and 88: F i n a n c i a l S t a t e m e n t
- Page 89 and 90: F i n a n c i a l S t a t e m e n t
- Page 91 and 92: F i n a n c i a l S t a t e m e n t
- Page 93 and 94: F i n a n c i a l S t a t e m e n t
- Page 95: F i n a n c i a l S t a t e m e n t
- Page 99 and 100: F i n a n c i a l S t a t e m e n t
- Page 101 and 102: F i n a n c i a l S t a t e m e n t
- Page 103 and 104: F i n a n c i a l S t a t e m e n t
- Page 105 and 106: F i n a n c i a l S t a t e m e n t
- Page 107 and 108: F i n a n c i a l S t a t e m e n t
- Page 109 and 110: F i n a n c i a l S t a t e m e n t
- Page 111 and 112: F i n a n c i a l S t a t e m e n t
- Page 113 and 114: F i n a n c i a l S t a t e m e n t
- Page 115 and 116: F i n a n c i a l S t a t e m e n t
- Page 117 and 118: F i n a n c i a l S t a t e m e n t
- Page 119 and 120: F i n a n c i a l S t a t e m e n t
- Page 121 and 122: F i n a n c i a l S t a t e m e n t
- Page 123: HEAD OFFICEAZTECH GROUP LTD31 Ubi R
94a z t e c h a n n u a l r e p o r t 2 0 0 9F i n a n c i a l S t a t e m e n t s25 REVENUEGROUP2009 2008$’000 $’000Sales of electronic products 180,098 252,990Supply of building construction materials 96,551 23,463Marine logistic services 3,107 -Sales of food products 511 -280,267 276,45326 OTHER OPERATING INCOMEGROUP2009 2008$’000 $’000Rental income 2,273 1,909Interest income 159 657Exchange gain 1,158 -Gain on revaluation of currency derivatives 565 337Gain from fair value adjustments of investment properties 1,144 -Others 490 630Total 5,789 3,53327 FINANCE COSTSGROUP2009 2008$’000 $’000Bank charges 329 367Interest expense for:Bills payable and short-term trade loans 549 824Finance leases 64 185Vessel loans 454 66Revolving loans, terms loans and bank loansfor Shenzhen office property 650 817Total 2,046 2,259
Change language