13. Investment in joint ventures (cont’d)
Summarised financial information in respect of Bukit Timah Green Development Pte Ltd and HLE Management Pte Ltd based
on their FRS financial statements, and reconciliation with the carrying amount of the investment in the consolidated financial
statements are as follows:
Summarised balance sheets
Summarised statement of comprehensive income
NOTES TO THE FINANCIAL STATEMENTS
31 December 2014
Bukit Timah Green
Development Pte Ltd
HLE Management
Pte Ltd
2014
2013
2014
2013
S$’000
S$’000
S$’000
S$’000
Current asset
300,898
293,417
66
222
Non-current asset
730
748
–
–
Total asset
301,628
294,165
66
222
Current liabilities
104,897
113,839
(6)
(8)
Non-current liabilities
199,358
183,043
–
–
Total liabilities
304,255
296,882
(6)
(8)
Net (liabilities)/assets
(2,627)
(2,717)
60
214
Proportion of the Group’s ownership
50%
50%
50.01%
50.01%
Group’s share of net (liabilities)/assets
(1,314)
(1,359)
30
107
Carrying amount of the investment
–
–
30
107
Carrying amount of the provision for Group’s share of
losses (Note 24)
(1,314)
(1,359)
–
–
Revenue
89,516
12,177
3
66
Cost of sales
(86,599)
(10,691)
–
–
Gross profit
2,917
1,486
3
66
Other income
40
31
–
–
Operating expenses
(2,850)
(5,844)
(6)
(7)
Profit/(loss) before tax
107
(4,327)
(3)
59
Tax (expense)/credit
(18)
748
–
(2)
Profit/(loss) after tax and total comprehensive income
89
(3,579)
(3)
57
Hock Lian Seng Holdings Limited
Annual report 2014
74
