- Part 2: For the preceding part double click ID:nRSA0032Oa
25 15 30
Non-current assets 48,496 47,295 46,685
Properties for sale 3,211 2,677 2,670
Stocks and work in progress 2,738 2,612 2,330
Current debtors 5,797 6,414 5,269
Current investments 15 30 17
Current tax assets 131 169 129
Bank balances and other liquid funds
- non-financial services companies 4,025 4,016 4,617
- financial services companies 323 297 284
4,348 4,313 4,901
16,240 16,215 15,316
Non-current assets classified as held for sale 4 4 7
Current assets 16,244 16,219 15,323
Total assets 64,740 63,514 62,008
Equity
Share capital 56 56 56
Share premium and capital reserves 1,377 1,373 1,370
Revenue and other reserves 23,274 22,160 22,440
Own shares held (1,848) (1,834) (1,838)
Shareholders' funds 22,859 21,755 22,028
Non-controlling interests 21,516 21,407 20,862
Total equity 44,375 43,162 42,890
Liabilities
Long-term borrowings
- non-financial services companies 5,363 4,997 4,552
- financial services companies 1,744 1,998 1,674
7,107 6,995 6,226
Deferred tax liabilities 695 764 707
Pension liabilities 226 282 213
Non-current creditors 421 406 384
Non-current provisions 129 134 116
Non-current liabilities 8,578 8,581 7,646
Current creditors 7,662 6,860 6,742
Current borrowings
- non-financial services companies 1,684 2,369 2,385
- financial services companies 2,096 2,242 2,079
3,780 4,611 4,464
Current tax liabilities 289 255 210
Current provisions 56 45 56
Current liabilities 11,787 11,771 11,472
Total liabilities 20,365 20,352 19,118
Total equity and liabilities 64,740 63,514 62,008
Jardine Strategic
Holdings Limited
Consolidated
Statement of
Changes in Equity
SharecapitalUS$m SharepremiumUS$m CapitalreservesUS$m RevenuereservesUS$m ContributedsurplusUS$m AssetrevaluationreservesUS$m HedgingreservesUS$m ExchangereservesUS$m OwnsharesheldUS$m Attributable to shareholders of the CompanyUS$m Attributableto non-controlling interestsUS$m Totalequity US$m
Six months ended
30th June 2014
(unaudited)
At 1st January 2014 56 1,199 171 22,665 304 214 1 (744) (1,838) 22,028 20,862 42,890
Total comprehensive - - - 863 - 2 (7) 68 - 926 1,149 2,075
income
Dividends paid by - - - (109) - - - - - (109) - (109)
the Company (note
10)
Dividends paid to - - - - - - - - - - (635) (635)
non-controlling
interests
Employee share - - 8 - - - - - - 8 1 9
option schemes
Scrip issued in - - - 7 - - - - - 7 - 7
lieu of dividends
Increase in own - - - - - - - - (10) (10) - (10)
shares held
Change in interests - - - 10 - - - - - 10 139 149
in subsidiaries
Change in interests - - - (1) - - - - - (1) - (1)
in associates and
joint ventures
Transfer - - (1) 1 - - - - - - - -
At 30th June 2014 56 1,199 178 23,436 304 216 (6) (676) (1,848) 22,859 21,516 44,375
Six months ended
30th June 2013
(unaudited)
At 1st January 2013 56 1,199 167 21,047 304 213 (23) 105 (1,727) 21,341 21,036 42,377
Total comprehensive - - - 818 - - 11 (199) - 630 811 1,441
income
Dividends paid by - - - (104) - - - - - (104) - (104)
the Company (note
10)
Dividends paid to - - - - - - - - - - (708) (708)
non-controlling
interests
Employee share - - 8 - - - - - - 8 - 8
option schemes
Scrip issued in - - - 4 - - - - - 4 - 4
lieu of dividends
Increase in own - - - - - - - - (107) (107) - (107)
shares held
Subsidiaries - - - - - - - - - - 68 68
acquired
Capital - - - - - - - - - - 76 76
contribution from
non-controlling
interests
Change in interests - - - (16) - - - - - (16) 124 108
in subsidiaries
Change in interests - - - (1) - - - - - (1) - (1)
in associates and
joint ventures
At 30th June 2013 56 1,199 175 21,748 304 213 (12) (94) (1,834) 21,755 21,407 43,162
Year ended 31st
December 2013
At 1st January 2013 56 1,199 167 21,047 304 213 (23) 105 (1,727) 21,341 21,036 42,377
Total comprehensive - - - 1,797 - 1 24 (849) - 973 555 1,528
income
Dividends paid by - - - (150) - - - - - (150) - (150)
the Company
Dividends paid to - - - - - - - - - - (951) (951)
non-controlling
interests
Employee share - - 14 - - - - - - 14 3 17
option schemes
Scrip issued in - - - 6 - - - - - 6 - 6
lieu of dividends
Increase in own - - - - - - - - (111) (111) - (111)
shares held
Subsidiaries - - - - - - - - - - 52 52
acquired
Subsidiaries - - - - - - - - - - (1) (1)
disposed of
Capital - - - - - - - - - - 75 75
contribution from
non-controlling
interests
Change in interests - - - (44) - - - - - (44) 93 49
in subsidiaries
Change in interests - - - (1) - - - - - (1) - (1)
in associates and
joint ventures
Transfer - - (10) 10 - - - - - - - -
At 31st December 56 1,199 171 22,665 304 214 1 (744) (1,838) 22,028 20,862 42,890
2013
Total comprehensive
income for the six
months ended 30th
June 2014 included
in revenue reserves
comprises profit
attributable to
shareholders of the
Company of US$876
million
(2013: US$860
million) and net
fair value loss on
other investments
of US$6 million
(2013: US$40
million).
Cumulative net fair
value gain on other
investments
amounted to US$305
million. Total
comprehensive
income for the year
ended 31st December
2013 included in
revenue reserves
comprises profit
attributable to
shareholders of the
Company of US$1,700
million and net
fair value gain on
other investments
(net of impairment
and transfer to
profit and loss) of
US$51 million.
Cumulative net fair
value gain on other
investments
amounted to US$311
million.
Contributed surplus
represents the
excess in value of
shares acquired in
consideration for
the issue of the
Company's shares,
over the nominal
value of those
shares issued.
Under the Bye-Laws
of the Company, the
contributed surplus
is distributable.
Jardine Strategic Holdings Limited Consolidated Cash Flow Statement
(unaudited)Six months ended 30th June Year ended 31st December
2014US$m 2013US$m 2013US$m
Operating activities
Operating profit 1,718 1,658 3,334
Change in fair value of investment properties (16) 43 62
Depreciation and amortization 463 513 992
Other non-cash items 45 94 298
Increase in working capital (743) (554) (358)
Interest received 93 56 133
Interest and other financing charges paid (129) (140) (253)
Tax paid (351) (481) (933)
1,080 1,189 3,275
Dividends from associates and joint ventures 350 299 533
Cash flows from operating activities 1,430 1,488 3,808
Investing activities
Purchase of subsidiaries (note 12(a)) - (79) (74)
Purchase of associates and joint ventures (note 12(b)) (121) (79) (488)
Purchase of shares and convertible bonds in Zhongsheng (731) - -
Purchase of other investments (note 12(c)) (35) (92) (106)
Purchase of intangible assets (156) (159) (294)
Purchase of tangible assets (541) (919) (1,397)
Additions to investment properties (104) (80) (223)
Additions to plantations (27) (36) (65)
Advance to associates, joint ventures and others (note 12(d)) (7) (94) (6)
Advance and repayment from associates, joint venturesand others (note12(e)) 42 72 219
Sale of subsidiaries - 4 14
Sale of other investments (note 12(f)) 138 94 109
Sale of intangible assets - 1 8
Sale of tangible assets 40 15 72
Sale of investment properties - - 1
Cash flows from investing activities (1,502) (1,352) (2,230)
Financing activities
Capital contribution from non-controlling interests - 76 75
Advance from non-controlling interests - - 1
Change in interests in subsidiaries (note 12(g)) 154 132 73
Drawdown of borrowings 4,829 5,311 8,492
Repayment of borrowings (4,708) (4,407) (7,798)
Dividends paid by the Company (195) (186) (268)
Dividends paid to non-controlling interests (635) (708) (951)
Cash flows from financing activities (555) 218 (376)
Net (decrease)/increase in cash and cash equivalents (627) 354 1,202
Cash and cash equivalents at beginning of period 4,895 3,918 3,918
Effect of exchange rate changes 48 (23) (225)
Cash and cash equivalents at end of period 4,316 4,249 4,895
Jardine Strategic Holdings LimitedNotes to Condensed Financial Statements
1. Accounting Policies and Basis of Preparation
The condensed financial statements have been prepared in accordance with IAS 34 'Interim Financial Reporting'. The
condensed financial statements have been prepared on a going concern basis. The condensed financial statements have not
been audited or reviewed by the Group's auditors pursuant to the UK Auditing Practices Board guidance on the review of
interim financial information.
The following amendments and interpretation which are effective in the current accounting period and relevant to the
Group's operations are adopted in 2014:
Amendments to IAS 32 Offsetting Financial Assets and Financial Liabilities
Amendments to IAS 36 Recoverable Amount Disclosures for Non-Financial Assets
Amendments to IAS 39 Novation of Derivatives and Continuation of Hedge Accounting
IFRIC 21 Levies
Amendments to IAS 32 'Offsetting Financial Assets and Financial Liabilities' are made to the application guidance in IAS 32
and clarify some of the requirements for offsetting financial assets and financial liabilities on the balance sheet.
Specifically, the amendments clarify the meaning of 'currently has a legally enforceable right of offset' and 'simultaneous
realization and settlement'.
Amendments to IAS 36 'Recoverable Amount Disclosures for Non-Financial Assets' set out the changes to the disclosures when
recoverable amount is determined based on fair value less costs of disposal. The key amendments are (a) to remove the
requirement to disclose recoverable amount when a cash generating unit (CGU) contains goodwill
- More to follow, for following part double click ID:nRSA0032Oc