BALANCE SHEETS
AS AT 31 December 2014
Financial Statements
The accompanying notes form an integral part of these financial statements.
82
COSCO Corporation (Singapore) Limited
The Group
The Company
Note
2014
2013
2014
2013
$’000
$’000
$’000
$’000
ASSETS
Current assets
Cash and cash equivalents
11
1,560,803
2,028,397
46,434
54,408
Forward currency contracts
12
–
770
–
–
Trade and other receivables
13
4,563,805
2,911,828
31,141
31,758
Inventories
14
1,041,695
1,046,764
–
–
Construction contract work-in-progress 15
177,515
208,366
–
–
Income tax receivables
7,252
–
–
–
Other current assets
16
21,429
15,235
164
176
7,372,499
6,211,360
77,739
86,342
Non-current assets
Trade and other receivables
17
4,377
36,874
–
–
Available-for-sale financial assets
18
4,841
4,391
–
–
Club memberships
19
303
303
82
88
Investments in associated companies
20
4,736
4,826
–
–
Investments in subsidiaries
21
–
–
371,644
370,988
Investment properties
22
10,990
11,293
–
–
Property, plant and equipment
23
2,267,057
2,227,868
647
768
Intangible assets
24
9,564
9,539
–
–
Deferred expenditure
25
3,029
3,066
–
–
Deferred income tax assets
29
267,901
225,212
–
–
2,572,798
2,523,372
372,373
371,844
Total assets
9,945,297
8,734,732
450,112
458,186
LIABILITIES
Current liabilities
Trade and other payables
26
2,632,163
2,695,911
17,378
18,149
Current income tax liabilities
53,932
25,288
1,569
1,531
Borrowings
27
2,430,304
1,926,065
–
–
Provisions
28
56,166
55,396
–
–
5,172,565
4,702,660
18,947
19,680
Non-current liabilities
Borrowings
27
2,542,390
1,856,463
–
–
Deferred income tax liabilities
29
837
528
704
398
2,543,227
1,856,991
704
398
Total liabilities
7,715,792
6,559,651
19,651
20,078
NET ASSETS
2,229,505
2,175,081
430,461
438,108
EQUITY
Capital and reserves attributable to
equity holders of the Company
Share capital
30
270,608
270,608
270,608
270,608
Statutory and other reserves
31
284,328
245,139
45,105
45,105
Retained earnings
812,819
820,027
114,748
122,395
1,367,755
1,335,774
430,461
438,108
Non-controlling interests
861,750
839,307
–
–
Total equity
2,229,505
2,175,081
430,461
438,108
