TRUST ENERGY RESOURCES PTE. LTD.
STATEMENT OF PROFIT OR LOSS AND OTHER COMPREHENSIVE INCOME
FOR THE YEAR ENDED 31 MARCH 2015
Year ended Exchange
March, 2015
Rate
USD
Continuing operations
Income from sale of goods
Freight income
Vessel operating income
Other operating income
Exchange gain
Purchases
Freight expense
Vessel operating expense
Staff and related costs
Operating expenses
Depreciation expenses
Interest and finance charges
Profit before income tax
Taxation
Profit for the year from continuing operations
Discontinued operations
Loss for the year from discontinued operations
Total Profit for the year, representing total
comprehensive income for the year
Amount
`
Year ended Exchange
March, 2014
Rate
USD
Amount
`
2,852,799
15,328,772
27,044,458
2,467,305
4,179
(2,793,461)
(14,977,535)
(4,204,264)
(2,152,127)
(1,108,006)
(8,425,170)
(5,006,512)
9,030,438
61.15
61.15
61.15
61.15
61.15
61.15
61.15
61.15
61.15
61.15
61.15
61.15
61.15
174,440,386
937,309,954
1,653,690,178
150,868,546
255,534
(170,812,039)
(915,832,830)
(257,078,551)
(131,596,325)
(67,751,354)
(515,174,713)
(306,133,690)
552,185,096
24,897,449
13,741,925
27,586,092
10,255,667
73,661
(24,230,783)
(13,458,653)
(4,106,772)
(1,936,728)
(897,363)
(8,421,743)
(4,197,241)
19,305,511
60.50
60.50
60.50
60.50
60.50
60.50
60.50
60.50
60.50
60.50
60.50
60.50
60.50
1,506,295,665
831,386,463
1,668,958,566
620,467,854
4,456,491
(1,465,962,372)
(814,248,507)
(248,459,706)
(117,172,044)
(54,290,462)
(509,515,452)
(253,933,081)
1,167,983,415
(6,359)
9,024,079
61.15
61.15
(388,834)
551,796,262
(1,377,637)
17,927,874
60.50
60.50
(83,347,039)
1,084,636,376
(37,258)
61.15
(2,278,219.00)
(146,161)
60.50
(8,842,741)
61.15
549,518,043
8,986,821
17,781,713
60.50
1,075,793,635
TRUST ENERGY RESOURCES PTE. LTD.
STATEMENT OF FINANCIAL POSITION AS AT 31 MARCH 2015
As at
Exchange
March, 2015
Rate
USD
Amount
`
As at
Exchange
March, 2014
Rate
USD
Amount
`
ASSETS
Current assets
Cash and cash equivalents
Trade receivables
Other receivables and prepayments
5,377,680
29,698,903
33,052,746
68,129,329
789,065
68,918,394
62.50
62.50
62.50
62.50
62.50
62.50
336,091,556
1,856,107,190
2,065,713,993
4,257,912,739
49,314,590
4,307,227,329
13,550,425
27,834,951
9,016,845
50,402,221
23,146,941
73,549,162
Non-current assets
Investment in subsidiary
Investments in joint ventures
Restricted cash
Available-for-sale financial assets
Property, plant and equipment
Prepayment for vessel
Total current assets
2,005,750
159,089,352
15,937,988
177,033,090
62.50
62.50
62.50
62.50
62.50
62.50
62.50
125,354,361
9,942,686,777
996,084,405
11,064,125,543
2,019,236
167,443,923
169,463,159
59.89
59.89
59.89
120,932,044
59.89
59.89 10,028,216,548
59.89
59.89 10,149,148,592
TOTAL ASSETS
245,951,484
62.50
15,371,352,872
243,012,321
59.89 14,554,007,903
649,974
8,517,847
23,829,723
86,647
33,084,191
62.50
62.50
62.50
62.50
62.50
40,621,750
532,344,143
1,489,298,113
5,415,221
2,067,679,227
334,188
8,062,728
11,849,599
1,405,079
21,651,594
59.89
59.89
59.89
59.89
59.89
20,014,519
482,876,780
709,672,484
84,150,181
1,296,713,964
2,850,657
76,396,665
79,247,322
62.50
62.50
62.50
178,158,936
4,774,600,571
4,952,759,507
3,481,313
93,246,264
96,727,577
59.89
59.89
59.89
208,495,836
5,584,518,751
5,793,014,587
129,153,344
4,466,627
133,619,971
46.37
152.68
129,153,344
(4,520,194)
124,633,150
46.37
-29.30
62.50
5,989,014,205
681,948,664
1,679,951,269
8,350,914,138
5,989,014,205
132,430,621
1,342,834,526
7,464,279,352
245,951,484
62.50
15,371,352,872
243,012,321
Non-current assets held for sale
Total current assets
59.89
59.89
59.89
59.89
59.89
59.89
811,534,953
1,667,035,215
540,018,847
3,018,589,015
1,386,270,296
4,404,859,311
LIABILITIES AND EQUITY
Current liabilities
Trade payables
Other payables
Current portion of bank loans
Income tax payable
Non-current liabilities
Derivative financial instruments
Non-current portion of bank loans
Capital and accumulated losses
Share capital
Accumulated losses
TOTAL LIABILITIES AND EQUITY
59.89
59.89 14,554,007,903
TRUST ENERGY RESOURCES PTE. LTD.
STATEMENT OF CHANGES IN EQUITY
FOR THE YEAR ENDED 31 MARCH 2015
Balance as at April 1, 2013
Profit for the year, representing total
comprehensive income for the year
Balance as at March 31, 2014
Stated
capital
USD
129,153,344
Exchange
Rate
46.37
129,153,344
Amount
`
5,989,014,205
46.37
5,989,014,205
Profit for the year, representing total
comprehensive income for the year
Balance as at March 31, 2015
129,153,344
46.37
5,989,014,205
Accumulated Exchange
Rate
losses
USD
(22,301,907)
42.30
Amount
Total
Exchange
Rate
Amount
USD
106,851,437
47.22
`
5,045,651,191
1,075,793,635
17,781,713
60.50
1,075,793,635
`
(943,363,014)
17,781,713
60.50
(4,520,194)
(29.30)
132,430,621
124,633,150
49.12
6,121,444,826
8,986,821
61.15
549,518,043
8,986,821
61.15
549,518,043
4,466,627
152.68
681,948,664
133,619,971
49.92
6,670,962,869
TRUST ENERGY RESOURCES PTE. LTD.
STATEMENT OF CASH FLOWS
FOR THE YEAR ENDED 31 MARCH 2015
Year ended Exchange
March, 2015
Rate
USD
Operating activities
Profit (Loss) before tax
Discontinuing operations
Continuing operations
Adjustment for:
Depreciation expense
Interest expense
Interest income
Fair value gain/loss on interest cap
Cash flows before changes in working capital
Amount
`
Year ended Exchange
March, 2014
Rate
USD
Amount
`
(37,258)
9,030,438
8,993,180
61.15
61.15
61.15
(2,278,219)
552,185,095
549,906,876
(146,161)
19,305,511
19,159,350
60.50
60.50
60.50
(8,842,741)
1,167,983,415
1,159,140,674
8,425,170
5,665,419
(385,726)
(630,656)
22,067,387
61.15
61.15
61.15
61.15
61.15
515,174,713
346,423,942
(23,586,026)
(38,562,785)
1,349,356,720
8,421,744
6,184,056
(383,389)
(1,835,116)
31,546,645
60.50
60.50
60.50
60.50
60.50
509,515,512
374,135,388
(23,195,035)
(111,024,518)
1,908,572,021
(1,777,077)
(1,691,934)
315,787
(108,663,105)
(103,456,857)
19,309,459
9,136,294
1,165,682,511
3,822,682
90,357
17,845
(4,719,538)
(640,858)
30,117,133
60.50
60.50
60.50
60.50
60.50
60.50
231,272,261
5,466,599
1,079,623
(285,532,049)
(38,771,909)
1,822,086,546
Trade recievables
Other receivables and prepayments
Trade payables
Trade financing
Other payables
Cash generated from operations
149,415
19,063,578
61.15
61.15
61.15
61.15
61.15
61.15
Interest received
Interest paid
Income taxes paid
Net cash from operating activities
307,755
(5,434,822)
(1,324,791)
12,611,720
61.15
61.15
61.15
61.15
18,818,326
(332,323,604)
(81,007,128)
771,170,105
579,659
(5,929,849)
(1,511,185)
23,255,758
60.50
60.50
60.50
60.50
35,069,370
(358,755,865)
(91,426,693)
1,406,973,358
Investing activities
Purchase of property, plant and equipment
Payment towards construction of vessels
Net cash used in investing activities
(70,599)
(15,622,500)
(15,693,099)
61.15
61.15
61.15
(4,316,924)
(955,270,570)
(959,587,494)
(39,096)
(39,096)
60.50
60.50
60.50
(2,365,308)
(2,365,308)
Financing activities
Proceeds from borrowings
Repayment of borrowings
Restricted cash
Net cash used in financing activities
16,980,124
(22,071,490)
(5,091,366)
61.15
61.15
61.15
61.15
1,038,285,340
(1,349,607,606)
(311,322,266)
(12,071,489)
471,954
(11,599,535)
60.50
60.50
60.50
60.50
(730,325,085)
28,553,217
(701,771,868)
Net increase / (decrease) in cash and cash equivalents
(8,172,745)
61.15
(499,739,655)
11,617,127
60.50
702,836,182
Cash and cash equivalents at the beginning of the year
13,550,425
59.89
811,534,953
1,933,298
14.77
28,553,217
24,296,258
-
336,091,556
13,550,425
Effect of exchange fluctuation on cash and cash equivalents
Cash and cash equivalents at the end of the year
5,377,680
62.50
80,145,554
59.89
811,534,953