Notes to the Financial Statements
(Cont’d)
For the year ended 30 April 2015
(In Singapore Dollars)
73
STAMFORD TYRES CORPORATION LIMITED
BUILDING ON OUR EXTENSIVE NETWORK
14. Joint venture companies (cont’d)
Analysis of total comprehensive income
Profit or loss after tax from continuing operations
Group
2015
2014
$’000
$’000
Tyre Pacific (HK) Limited
401
1,190
Falken Tyre India Private Limited
(312)
(1,908)
Total comprehensive income
89
(718)
Tyre Pacific (HK) Limited
Falken Tyre India
Private Limited
2015
2014
2015
2014
$’000
$’000
$’000
$’000
Summarised balance sheet
Cash and cash equivalents
12,826
13,822
263
1,145
Other current assets
23,636
26,043
8,945
7,935
Total current assets
36,462
39,865
9,208
9,080
Non-current assets
8,536
8,051
1,170
1,898
Total assets
44,998
47,916
10,378
10,978
Current financial liabilities (excluding trade,
other payables and provisions)
5,178
3,280
–
–
Other current liabilities
12,362
17,356
3,541
3,900
Total current liabilities
17,540
20,636
3,541
3,900
Other non-current liabilities
–
–
1,418
900
Total non-current liabilities
–
–
1,418
900
Total liabilities
17,540
20,636
4,959
4,800
Net assets
27,458
27,280
5,419
6,178
Summarised statement of comprehensive
income
Revenue
46,382
48,136
26,290
12,290
Cost of goods sold
(36,655)
(38,618)
(18,583)
(8,005)
Depreciation and amortisation
(337)
(321)
(758)
(1,215)
Interest expense
(479)
(544)
(143)
(50)
Other expenditure
(7,259)
(5,290)
(7,586)
(7,789)
Profit/(loss) before tax
1,652
3,363
(780)
(4,769)
Income tax expense
(850)
(984)
–
–
Total comprehensive income
802
2,379
(780)
(4,769)
