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BALANCE SHEETS
AS AT 31 MARCH 2013
The accompanying accounting policies and explanatory notes form an integral part of the financial statements.
MTQ Corporat ion Limi ted Annual Repor t 2012/13 37
(In Singapore dollars)
Group Company
Note 2013 2012 2013 2012
$’000 $’000 $’000 $’000
Non-current assets
Goodwill 9 12,276 12,346 – –
Intangible assets 10 18,172 72 – –
Investment property 11 – – 1,029 1,066
Property, plant and equipment 12 77,224 51,161 422 385
Investment in subsidiaries 13 – – 47,931 53,294
Investment securities 14 – 18,048 – –
Receivables 15 1,590 97 60,406 42,873
Prepayments 15 7 16 – 9
Deferred tax assets 23 5,066 1,566 – 13
114,335 83,306 109,788 97,640
Current assets
Inventories 16 32,425 24,405 – –
Trade and other receivables 17 76,857 27,244 9,594 16,949
Prepayments 15 2,749 860 24 33
Investment securities 14 784 889 – –
Cash and cash equivalents 18 40,911 27,314 6,809 5,886
153,726 80,712 16,427 22,868
Current liabilities
Trade and other payables 19 52,103 23,461 2,937 2,007
Finance lease payable 20 564 429 – –
Bank borrowings 21 8,944 24,104 3,491 20,843
Loan from a non-controlling shareholder of a subsidiary 22 – 701 – –
Provisions 24 1,247 1,259 – –
Provision for taxation 4,980 3,893 232 393
67,838 53,847 6,660 23,243
Net current assets/(liabilities) 85,888 26,865 9,767 (375)
Non-current liabilities
Other payables 19 – – 6,220 4,878
Finance lease payable 20 352 480 – –
Bank borrowings 21 63,715 20,912 15,338 16,984
Deferred tax liabilities 23 2,552 1,406 178 –
Provisions 24 1,826 1,241 72 70
68,445 24,039 21,808 21,932
Net assets 131,778 86,132 97,747 75,333
Equity attributable to owners of the Company
Share capital 25 31,740 29,857 31,740 29,857
Treasury shares 25 – (3,992) – (3,992)
Reserves 26 86,890 60,827 66,007 49,468
Shareholders’ funds 118,630 86,692 97,747 75,333
Non-controlling interests 13,148 (560) – –
Total equity 131,778 86,132 97,747 75,333