G. A. HOLDINGS<08126> - Results Announcement (Q3, 2002, Summary)
G.A. Holdings Limited announced on 13/11/2002:
(stock code :08126)
Year end date :31/12/2002
Currency :SGD
Auditors' report :N/A
Review of 3rd Quarterly Report by :Audit Committee
Important Note :
This result announcement form only contains extracted information from
and should be read in conjunction with the detailed results announcement
of the issuer, which can be viewed on the GEM website at
http://www.hkgem.com
(Unaudited) (Unaudited)
Current Last
Corresponding
Period Period
from 01/01/2002 from 01/01/2001
to 30/09/2002 to 30/09/2001
SGD'000 SGD'000
Turnover : 69,490 43,294
Profit/(Loss) from Operations : 6,244 5,520
Finance cost : (2,034) (1,854)
Share of Profit/(Loss) of Associates : N/A N/A
Share of Profit/(Loss) of Jointly
Controlled Entites : N/A N/A
Profit/(Loss) after Taxation & MI : 2,899 2,379
% Change Over the Last Period : +21.86 %
EPS / (LPS)
Basic (in dollar) : SGD 0.0083 SGD 0.0074
Diluted (in dollar) : N/A N/A
Extraordinary (ETD) Gain/(Loss) : N/A N/A
Profit (Loss) after ETD Items : 2,899 2,379
3rd Quarterly Dividends per Share : NIL NIL
(specify if with other options) : N/A N/A
B/C Dates for 3rd Quarterly Dividends : N/A
Payable Date : N/A
B/C Dates for (-) General Meeting : N/A
Other Distribution for Current Period : NIL
B/C Dates for Other Distribution : N/A
For and on behalf of
G.A. Holdings Limited
Signature :
Name : Chan Hing Ka Anthony
Title : Executive Director
Responsibility statement
The directors of the Company (the "Directors") as at the date hereof
hereby collectively and individually accept full responsibility for the
accuracy of the information contained in this results announcement form
(the "Information") and confirm, having made all reasonable inquiries,
that to the best of their knowledge and belief the Information are
accurate and complete in all material respects and not misleading and
that there are no other matters the omission of which would make the
Information herein inaccurate or misleading. The Directors acknowledge
that the Stock Exchange has no responsibility whatsoever with regard
to the Information and undertake to indemnify the Exchange against all
liability incurred and all losses suffered by the Exchange in connection
with or relating to the Information.
Remarks:
1. Group reorganization and basis of presentation
The Company was incorporated in the Cayman Islands on 5th July, 2001 as
an exempted company with limited liability under the Companies Law
(Revised) of the Cayman Islands. Its shares have been listed on the
Growth Enterprise Market of The Stock Exchange of Hong Kong Limited
since 17th June, 2002
On 5th June, 2002, the Company became the holding company of the other
companies comprising the Group pursuant to a group reorganization ("the
Reorganization") which included exchange of shares. The Reorganization
involved companies under common control, and the Group, resulting from
Reorganization, is regarded as a continuing group. Accordingly, the
Reorganization has been accounted for on the basis of merger accounting,
under which the unaudited consolidated results of the Group for the nine
months ended 30th September, 2002, have been prepared as if the Company
had been the holding company of the other companies comprising the Group
throughout the nine months ended 30th September, 2002, rather than
from the date on which the Reorganization was completed. The
comparative figures as at 31st December, 2001 and for the nine months
ended 30th September, 2001 have been presented on the same basis.
The unaudited consolidated results of the Group have been prepared in
accordance with accounting principles generally accepted in Hong Kong
and have not been reviewed by the auditors.
The accounting policies adopted for the preparation of these unaudited
consoldiated results of the Group are consistent with those adopted by
the Group in the preparation of annual audited financial statements
for the year ended 31st December, 2001.
2. Turnover
Turnover consisted of:
nine months
ended 30th September,
2002 2001
SGD'000 SGD'000
Sale of motor
vehicles 57,884 37,632
Servicing of motor
vehicles and sales
of auto parts 7,008 2,329
Technical fee income 3,911 3,333
Management fee income 687 -
_______ _______
69,490 43,294
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3. Taxation
Taxation consists of:
nine months
ended 30th September,
2002 2001
SGD'000 SGD'000
Hong Kong profit tax 218 103
Overseas taxation 434 646
Withholding tax 665 475
Deferred taxation - 69
_______ _______
1,317 1,293
======= =======
4. Dividend
The Board does not recommend the payment of an interim dividend for the
nine months ended 30th September, 2002. (2001: Nil)
5. Earnings per share
The calculation of basic earnings per share for the nine months ended
30th September, 2002 was based on the unaudited consolidated profit
attributable to shareholders of approximately SGD2,899,000 and on the
weighted average of 350,769,231 ordinary shares in issue during the
nine months ended 30th September, 2002.
The calculation of basic earnings per share for the nine months ended
30th September, 2001 was based on the unaudited consolidated profit
attributable to shareholders of approximately SGD2,379,000 and on the
320,000,000 ordinary shares in issue during the nine months ended
30th September, 2001.
Diluted earnings per share was not presented as there were no dilutive
potential ordinary shares in existence during the nine months ended
30th September, 2002 and 2001.
Earnings per share for
nine months
ended 30th September,
2002 2001
SGD'000 SGD'000
Earnings per share
Basic (cents) 0.83 0.74
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