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A M A R Q U E A B O V E T H E R E S T 84 E U R O S P O R T S G L O B A L L I M I T E D 85
2 0 1 4 A N N U A L R E P O R T
31 March 2014 31 March 2014
NOTES TO THE NOTES TO THE
F INANCI AL STATEMENTS F INANCI AL STATEMENTS
18. Share Capital
Group and Company
Number
of shares
issued
Share
capital
’000 $’000
Ordinary shares of no par value:
Balance at date of incorporation –(a) –(a)
Issue of new shares pursuant to Restructuring Exercise(b) 225,000 7,953
Issued and paid-up shares immediately after the Restructuring Exercise 225,000 7,953
Issue of new shares pursuant to Listing(c) 40,000 11,200
Share issue expense(d) – (684)
Balance at 31 March 2014 265,000 18,469
Notes:
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(b) As part of the Restructuring Exercise on 29 November 2013 (Note 1.2), the Company increased its issued and paid-up share capital
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Goh Kim San, the controlling shareholders of the Company.
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for cash. All new ordinary shares were fully subscribed and paid.
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reporting accountants.
The ordinary shares of no par value are fully paid, carry one vote each and have no right to fixed income. The
Company is not subject to any externally imposed capital requirements.
Capital management:
The objectives when managing capital are: to safeguard the reporting entity’s ability to continue as a going
concern, so that it can continue to provide returns for owners and benefits for other stakeholders, and
to provide an adequate return to owners by pricing the sales commensurately with the level of risk. The
management sets the amount of capital to meet its requirements and the risk taken. There were no changes
in the approach to capital management during the reporting year. The management manages the capital
structure and makes adjustments to it where necessary or possible in the light of changes in conditions
and the risk characteristics of the underlying assets. In order to maintain or adjust the capital structure,
the management may adjust the amount of dividends paid to owners, return capital to owners, issue new
shares, or sell assets to reduce debt. Adjusted capital comprises all components of equity (that is, share
capital and reserves).
The management monitors the capital on the basis of the debt-to-adjusted capital ratio. This ratio is
calculated as net debt / adjusted capital (as shown below). Net debt is calculated as total borrowings less
cash and cash equivalents.
16. Other Assets (Cont’d)
16A. Land Premium (Cont’d)
Group
2014
$’000
2013
$’000
Balance to be amortised:
Not later than one year 536 –
Later than one year and not later than five years 1,161 –
1,697 –
The amount pertains to upfront land premium paid pursuant to the sale and leaseback of the property
(Note 21A). The land premium is amortised on the straight line method over the period up to 31 May
2017, the original expiry of the land lease.
17. Cash and Cash Equivalents
Group
2014
$’000
2013
$’000
Not restricted in use 33,794 5,582
Cash restricted in use over 3 months 360 360
34,154 5,942
The interest earning balances are not significant.
17A. Cash and Cash Equivalents in the Statement of Cash Flows:
Group
2014
$’000
2013
$’000
Amount as shown above 34,154 5,942
Bank overdrafts – (1,900)
Cash restricted in use over 3 months (360) (360)
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at end of the year 33,794 3,682
17B. Non-cash Transactions:
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