CONSOLIDATED STATEMENT OF FINANCIAL POSITION
FY2015
FY2014
$’000
$’000
Non-current assets
Property, plant and equipment
582,872
542,777
Lease prepayments
6,032
5,817
Interest in joint ventures
and associates
18,108
13,375
Intangible assets
18,674
22,190
Total non-current assets
625,686
584,159
Current assets
Inventories
216,876
72,655
Construction work-in-progress
48,542
199,318
Trade and other receivables
238,907
287,658
Derivative financial instruments
542
-
Cash and bank balances
77,919
73,155
Total current assets
582,786
632,786
Current liabilities
Trade and other payables
180,461
193,916
Provision for warranty
929
1,224
Progress billings in excess of
construction work-in-progress
34,625
35,012
Trust receipts
68,847
100,204
Interest-bearing loans
and borrowings
150,431
161,844
Derivative financial instruments
873
2
Income tax payables
2,390
4,160
Bank overdrafts
1,130
6,724
Total current liabilities
439,686
503,086
Net current assets
143,100
129,700
Non-current liabilities
Other liabilities
3,327
3,746
Interest-bearing loans
and borrowings
323,075
277,035
Deferred tax liabilities
17,075
16,570
Total non-current liabilities
343,477
297,351
Net assets
425,309
416,508
Share capital
83,092
83,092
Treasury shares
(923)
(923)
Reserves
337,354
328,433
419,523
410,602
Non-controlling interests
5,786
5,906
Total equity
425,309
416,508
RESULTS AT A
GLANCE
Increase due to
acquisition of vessels.
Increase due to the
construction costs
of the 3 units of PSV
which were cancelled
by buyers.
Net construction work-
in-progress in excess
of progress billings
decreased by 91.5%
mainly attributed to
the completion and
delivery of vessels and
rescission of the two SB
contracts.
Trade and other
receivables decrease
due to lower
progressive billings for
SB projects achieved
during the period.
Increased in non-current
interest-bearing loans
and borrowings due to
issuance of $50 million
in principal amount of
5.35% Notes due 2018.
ASL Marine Holdings Ltd. /Annual Report 2015
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