G. A. HOLDINGS<08126> - Results Announcement (Final, 2002, Summary)
G.A. Holdings Limited announced on 25/03/2003:
(stock code: 08126 )
Year end date: 31/12/2002
Currency: SGD
Auditors' Report: Unqualified
Important Note:
This result announcement form only contain extracted information
from and should be read in conjunction with the detailed results
announcement of the issuer, which can be view on the GEM website
at http://www.hkgem.com
(Audited )
(Audited ) Last
Current Corresponding
Period Period
from 01/01/2002 from 01/01/2001
to 31/12/2002 to 31/12/2001
Note ('000 ) ('000 )
Turnover : 101,877 57,322
Profit/(Loss) from Operations : 5,913 5,389
Finance cost : (1,759) (1,362)
Share of Profit/(Loss) of
Associates : N/A N/A
Share of Profit/(Loss) of
Jointly Controlled Entities : N/A N/A
Profit/(Loss) after Tax & MI : 2,849 2,777
% Change over Last Period : +2.6 %
EPS/(LPS)-Basic (in dollars) : 0.0078 0.0087
-Diluted (in dollars) : N/A N/A
Extraordinary (ETD) Gain/(Loss) : N/A N/A
Profit/(Loss) after ETD Items : 2,849 2,777
Final Dividend : NIL NIL
per Share
(Specify if with other : N/A N/A
options)
B/C Dates for
Final Dividend : N/A
Payable Date : N/A
B/C Dates for (-)
General Meeting : N/A
Other Distribution for : NIL
Current Period
B/C Dates for Other
Distribution : N/A
For and on behalf of
G.A. Holdings Limited
Name : Loh Kim Her
Title : Managing 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
whatsever 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 REORGANISATION AND BASIS OF PREPARATION OF
FINANCIAL STATEMENTS
The Company was incorporated in the Cayman Islands under the
Companies Law of Cayman Islands as an exempted company with
limited liability on 5th July , 2001. Pursuant to a group
reorganisation (the ¡§Reorganisation¡¨) to rationalise the
Group structure in connection with the listing of the
Company¡¦s shares on the Growth Enterprise Market (the ¡§GEM¡¨)
of The Stock Exchange of Hong Kong Limited (the ¡§Stock
Exchange¡¨), the Company became the ultimate holding company
of the companies now comprising the Group. This was
accomplished by acquiring the entire issued share capital
of German Automobiles Limited (¡§GAL¡¨) and German
Automobiles Pte Limited (¡§GAPL¡¨), the then holding company
of the principal subsidiaries, in consideration for the
allotment and issue of shares of the Company to the then
shareholder of GAPL on 5th June, 2002 and the Company became
the ultimate holding company of the Group. Pursuant to the
placing arrangement (the ¡§Placing¡¨), details of which
are set out in the Prospectus dated 10th June, 2002, 80,000,000
ordinary shares were issued.
The Group after the Reorganisation is regarded as a continuing
entity. Accordingly, the financial
statements of the Group have been prepared as if the Company has
always been the holding company of the Group.
2. LISTING DATE ON GEM
The Company was listed on 17th June, 2002.
3. BASIS OF PRESENTATION
The measurement basis used in the preparation of the financial
statements is historical cost.
4. EARNINGS PER SHARE
The calculation of basic earnings per share is based on the
net profit attributable to the shareholders for the year of
S$2,849,000 (2001: S$2,777,000) and weighted average number
of 363,178,082 (2001: 320,000,000) shares in issue during the
year.
Diluted earnings per share is not presented as there were no
dilutive potential ordinary shares in existence during
the year.
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