SEO Version
A M A R Q U E A B O V E T H E R E S T
86
E U R O S P O R T S G L O B A L L I M I T E D
87
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
20. Other Financial Liabilities
Group
2014
$’000
2013
$’000
Non-current:
Bank loans (secured) (Note 20A)
10,592
11,954
Finance lease payables (Note 20C)
1,557
567
Non-current, total
12,149
12,521
Current:
Bank overdrafts (Note 20A)
–
1,900
Bank loans (secured) (Note 20A)
773
1,611
Trust receipts and bills payables (Note 20B)
644
13,529
Finance lease payables (Note 20C)
1,223
924
Current, total
2,640
17,964
Total
14,789
30,485
The non-current portion is repayable as follows:
Due within 2 to 5 years
4,843
4,294
After 5 years
7,306
8,227
Non-current, total
12,149
12,521
5IF SBOHF PG nPBUJOH SBUF JOUFSFTU SBUFT QBJE XBT BT GPMMPXT
Group
2014
%
2013
%
Bank overdrafts
5.00
5.00
Bank loans
1.28 – 1.58
1.28
Trust receipts and bill payables
4.00 – 7.25 4.00 – 7.25
The fixed rate interest rates paid was as follows:
Group
2014
%
2013
%
Bank loans
2.32
2.32
18. Share Capital (Cont’d)
2014
$’000
2013
$’000
Net debt:
All current and non-current borrowings including finance leases
14,789
30,485
Less cash and cash equivalents
(34,154)
(5,942)
Net debt
(19,365)
24,543
Adjusted capital:
Total equity
36,393
8,857
Adjusted capital
36,393
8,857
Debt-to-adjusted capital ratio
(
*
)
277.1%
Note:
( * ) Not meaningful
In order to maintain its listing on the Catalist Board of the SGX-ST, the Company has to have share capital
XJUI B GSFF nPBU PG BU MFBTU
PG UIF TIBSFT 5IF $PNQBOZ NFU UIF DBQJUBM SFRVJSFNFOU PO JUT JOJUJBM
listing and the rules limiting treasury share purchases mean it will continue to satisfy that requirement, as it
did throughout the reporting year. Management receives a report from the share registrars frequently on
TVCTUBOUJBM TIBSF JOUFSFTUT TIPXJOH UIF OPO GSFF nPBU UP FOTVSF DPOUJOVJOH DPNQMJBODF XJUI UIF MJNJU
throughout the reporting year.
The management does not set a target level of gearing but uses capital to support its business and to add
value for shareholders. The key discipline adopted is to widen the margin between the return on capital
employed and the cost of that capital.
19. Trade and Other Payables
Group
Company
2014
$’000
2013
$’000
2014
$’000
Trade payables:
Outside parties and accrued liabilities
3,329
4,707
100
Sub-total
3,329
4,707
100
Other payables:
Related parties [Note 3.4(a)]
–
1,085
–
Other payables
125
125
–
Other payables for construction in progress
–
526
–
Sub-total
125
1,736
–
Total trade and other payables
3,454
6,443
100
Powered by FlippingBook Publisher