The summarized financial information of the subsidiaries is provided below. This information is based on amounts before inter-company eliminations:
Summarized income statements for 2017:
|
|
|
CTW consolidated |
|
|
SYE |
|
||
|
|
|
US$’000 |
|
|
US$’000 |
|
||
|
Revenues |
|
|
207,529 |
|
|
|
33,533 |
|
|
Cost of sales |
|
|
(187,342 |
) |
|
|
(31,937 |
) |
|
Administrative expenses |
|
|
(7,817 |
) |
|
|
(1,559 |
) |
|
Finance costs |
|
|
(711 |
) |
|
|
(346 |
) |
|
Exchange gain/(loss) |
|
|
1,335 |
|
|
|
282 |
|
|
Others |
|
|
(9 |
) |
|
|
— |
|
|
Profit/(loss) before tax |
|
|
12,985 |
|
|
|
(27 |
) |
|
Income tax expense |
|
|
(2,727 |
) |
|
|
— |
|
|
Profit/(loss) for the year |
|
|
10,258 |
|
|
|
(27 |
) |
|
Total comprehensive income/(loss) |
|
|
20,440 |
|
|
|
318 |
|
|
Profit/(loss) attributable to non-controlling interests |
|
|
4,896 |
|
|
|
(15 |
) |
|
Dividends paid to non-controlling interests |
|
|
1,943 |
|
|
|
— |
|
|
6. |
MATERIAL PARTLY-OWNED SUBSIDIARIES (continued) |
Summarized income statements for 2016:
|
|
|
CTW consolidated |
|
|
SYE |
|
||
|
|
|
US$’000 |
|
|
US$’000 |
|
||
|
Revenues |
|
|
152,988 |
|
|
|
30,056 |
|
|
Cost of sales |
|
|
(139,575 |
) |
|
|
(28,247 |
) |
|
Administrative expenses |
|
|
(7,264 |
) |
|
|
(1,748 |
) |
|
Finance costs |
|
|
(401 |
) |
|
|
(377 |
) |
|
Gain on disposal of investment property |
|
|
4,466 |
|
|
|
— |
|
|
Exchange gain/(loss) |
|
|
618 |
|
|
|
(221 |
) |
|
Others |
|
|
(55 |
) |
|
|
— |
|
|
Profit/(loss) before tax |
|
|
10,777 |
|
|
|
(537 |
) |
|
Income tax expense |
|
|
(3,009 |
) |
|
|
— |
|
|
Profit/(loss) for the year |
|
|
7,768 |
|
|
|
(537 |
) |
|
Total comprehensive income/(loss) |
|
|
8,450 |
|
|
|
(814 |
) |
|
Profit/(loss) attributable to non-controlling interests |
|
|
3,812 |
|
|
|
(181 |
) |
|
Dividends paid to non-controlling interests |
|
|
1,142 |
|
|
|
— |
|
Summarized income statements for 2015:
|
|
|
CTW consolidated |
|
|
SYE |
|
||
|
|
|
US$’000 |
|
|
US$’000 |
|
||
|
Revenues |
|
|
167,462 |
|
|
|
30,120 |
|
|
Cost of sales |
|
|
(158,037 |
) |
|
|
(29,171 |
) |
|
Administrative expenses |
|
|
(6,776 |
) |
|
|
(1,422 |
) |
|
Finance costs |
|
|
(653 |
) |
|
|
(555 |
) |
|
Gain on disposal of investment property |
|
|
32 |
|
|
|
— |
|
|
Exchange loss |
|
|
(3,027 |
) |
|
|
(54 |
) |
|
Others |
|
|
46 |
|
|
|
— |
|
|
Loss before tax |
|
|
(953 |
) |
|
|
(1,082 |
) |
|
Income tax expense |
|
|
(655 |
) |
|
|
— |
|
|
Loss for the year |
|
|
(1,608 |
) |
|
|
(1,082 |
) |
|
Total comprehensive loss |
|
|
(11,461 |
) |
|
|
(1,392 |
) |
|
Loss attributable to non-controlling interests |
|
|
(789 |
) |
|
|
(364 |
) |
|
Dividends paid to non-controlling interests |
|
|
2,035 |
|
|
|
— |
|
Summarized balance sheets as of December 31, 2017:
|
|
|
CTW consolidated |
|
|
SYE |
|
||
|
|
|
US$’000 |
|
|
US$’000 |
|
||
|
Cash, inventory and other current assets |
|
|
149,875 |
|
|
|
15,063 |
|
|
Property, plant and equipment and other non-current assets |
|
|
41,983 |
|
|
|
1,920 |
|
|
Trade and other payable (current) |
|
|
(47,451 |
) |
|
|
(11,356 |
) |
|
Other non-current liabilities |
|
|
(7,536 |
) |
|
|
— |
|
|
Total equity |
|
|
136,871 |
|
|
|
5,627 |
|
|
Equity attributable to equity holders of the parent |
|
|
71,876 |
|
|
|
3,869 |
|
|
Non-controlling interests |
|
|
64,995 |
|
|
|
1,758 |
|
|
6. |
MATERIAL PARTLY-OWNED SUBSIDIARIES (continued) |
Summarized balance sheets as of December 31, 2016:
|
|
|
CTW consolidated |
|
|
SYE |
|
||
|
|
|
US$’000 |
|
|
US$’000 |
|
||
|
Cash, inventory and other current assets |
|
|
117,401 |
|
|
|
11,767 |
|
|
Property, plant and equipment and other non-current assets |
|
|
38,926 |
|
|
|
1,774 |
|
|
Trade and other payable (current) |
|
|
(30,871 |
) |
|
|
(9,232 |
) |
|
Other non-current liabilities |
|
|
(6,096 |
) |
|
|
— |
|
|
Total equity |
|
|
119,360 |
|
|
|
4,309 |
|
|
Equity attributable to equity holders of the parent |
|
|
62,980 |
|
|
|
2,859 |
|
|
Non-controlling interests |
|
|
56,380 |
|
|
|
1,450 |
|
Summarized cash flow information for the year ended December 31, 2017:
|
|
|
CTW consolidated |
|
|
SYE |
|
||
|
|
|
US$’000 |
|
|
US$’000 |
|
||
|
Operating |
|
|
(24,018 |
) |
|
|
833 |
|
|
Investing |
|
|
6,589 |
|
|
|
(252 |
) |
|
Financing |
|
|
12,836 |
|
|
|
(563 |
) |
|
Effect of changes in exchange rate on cash |
|
|
1,678 |
|
|
|
65 |
|
|
Net (decrease) increase in cash and cash equivalents |
|
|
(2,915 |
) |
|
|
83 |
|
Summarized cash flow information for the year ended December 31, 2016:
|
|
|
CTW consolidated |
|
|
SYE |
|
||
|
|
|
US$’000 |
|
|
US$’000 |
|
||
|
Operating |
|
|
7,319 |
|
|
|
(716 |
) |
|
Investing |
|
|
443 |
|
|
|
(341 |
) |
|
Financing |
|
|
(10,586 |
) |
|
|
1,470 |
|
|
Effect of changes in exchange rate on cash |
|
|
(404 |
) |
|
|
(44 |
) |
|
Net (decrease) increase in cash and cash equivalents |
|
|
(3,228 |
) |
|
|
369 |
|
Summarized cash flow information for the year ended December 31, 2015:
|
|
|
CTW consolidated |
|
|
SYE |
|
||
|
|
|
US$’000 |
|
|
US$’000 |
|
||
|
Operating |
|
|
907 |
|
|
|
2,046 |
|
|
Investing |
|
|
585 |
|
|
|
(68 |
) |
|
Financing |
|
|
(19,043 |
) |
|
|
(2,619 |
) |
|
Effect of changes in exchange rate on cash |
|
|
(3,384 |
) |
|
|
(64 |
) |
|
Net decrease in cash and cash equivalents |
|
|
(20,935 |
) |
|
|
(705 |
) |