li - gmr group · 2013-09-12 · li . inilepe:1\'de~'t . anntors' report . to the...

$: LI - GMR Group · 2013-09-12 · LI . INIlEPE:1\'DE~'T . AnnTORS' REPORT . to the members of . GMR . INFRA."tTRFClTRE (SINGAPORE) PTE. LIMITED . Report on . the . Financial Statements$
LI INIlEPE1DE~T AnnTORS REPORT to the members of GMR INFRAtTRFClTRE (SINGAPORE) PTE LIMITED

Report on the Financial Statements

Vie h~vc audiloo ~he accompanying financial statements ofGMR Inirnstrucmre Ptc Limitid which eOluprise the satements of financial poSuon as at 31 March 201(3lt and hc sme-enI5 u[ comprehemive income staranents of CMngeli in equity and stalerrrentpound of caslll1ows t1) the year llln ended and a summary ofsignIiicant accounting mld mher iOre

The Companys management is responsihle the preparation and i3ir of these financial satenlenlS in acc(misllicent with the of tile Singapore Companies Act Cap SH [m Singapore Financial Standards ThI$ respclIlsibility includes

(a) devising and a system of intemal acoounting contlois Sttm~hnl to a reasonable assurance that assets are safe~uardoo lDss fmtn Ul1l1uthDflsed u~e Of

disposition and lltliusacti)lls are properiy authorised amiihat tiley are 1tC(wdctl as n~Sslry to penuit the preparaliol of trul and fllif statement of cornprenel1Sie inome and st3ICinCIll (1 financial JXIpoundil(lXl ltlJld to maintain aCOlll1u1bflity

(b)

OUT responsibility i~ hJ expresS an opinion on lhese staremellltli hased on our audit We conducted our audit in (Iccordance with Singapore Standards on At1ditin~ ThDce standards thEr we comply with c1bicai fllllirementli and pian lhe ~tudit to obtain reasonable ~IS$llranCe whether the finMcial statements are free from material misstatement

An audit involves pnNwmes ttl oowil1 audh eiidence about the amount and clisdosures the financial statemen1s The setttw depend on the auditors the as~ssment oCtile risks misslatement ofthe financial StlJltlIllents whener due tn traud or tTOr

III making those risk assessments the aooitor conside$ intenml cDntrtlls rehmiddotarH H the preparation and fair presentatiml ofthe financid statement in oiitrlm- to dcsign audit rhll an appropriate illtbe circumstallCes but oot for the purpose of eXpresslng an flU 1he effcentcthcn~~ of tile enrilY$ mlemal controls An audit also locludes tIaluatmg the of aC~Ulntlng policies U300 and the reasonableness ofattOuming estim1tes rmde by ~i~ wdl as cVilIuatlDj1

the Oft-nill presenmtiolofule financial statements

INDEPEtllDE~J AtJDJTORSREIORT to fhe members of GMR INFRASTRUCTURE (SINGAPORE) PTE LIMITED con1mued

Basislor Quaiqiet1 Opinion

Included in the projttt d~pmalt costs of lhegroup is an unreaUsed fOIcign exchange Io$s ari~ing from the ~on of a foreigneurrency deoomimtted loan tomiddota related company amounting to SSl233OOft The ma~emem i5 of the opinion that tbisloss is notional in nature andiSretmed to a project undertaken hy a mbsidillfY oompanyand~cethecapitdisatiooofthe amount The management has represented that the funamp were reccived and adMlOOdmiddotm the related COttJpany in United States dollars (USS) The funds wUlte retaintdand settled by therclated eompany inUM and would bealed by the subsidiary company to meet certain capital expenditure in US$ Hence the funds may not be collverted to Singapore dollars and the loss on trtmslation may aCtuallymiddotnever be realised

Also induded in the project dcvelopri1ellt cOsts is interest income 00 the aoovc loan to the related Ctlmpany nmounting to SS698366

We are unable to assess tbe appropriateness of the basis ofcapilalising ibe foreign etclw1geloss and interest income If the loss and interest i1lOOll1e bad been recognised in tbcgroups staterntlt of oomprci1ensive income the projed d~ costs and the net profit ood shamboldenfimds of the group would have tkcreased by 8S534634

Managenenthas infonnoo tiS that the identifiable assets and liabilities ofa subsidiary company acquired and assumed respcthCly during the year WeIe ~ $ Oleir eosts at mquisitiondate instead of at their fair values as required by Singaporerinancjal ReportmgSt1UKhmi 103 -- Business Combinations because the pound111 alu~ are not reliably ~sumble at that date Accordingly we are unable to assess the approprimmess oftnecmyingatue ofme goodwill amOunting to 8514551575 as at 31 March lOW

As further described in Il(ie 19 to the financial stalemen~ a subsidiary company is aurently in the P~$ ofdeveloping a power plant far the genemtion and supply ofelectricity The business model is coostantly evolving at this stage anddecisions on negotiation ofamtracts have not been concluded at the date otlliis report The validity ofthe going concmlassumption aCthe subsidiary oonlpanyand the group is based on the omrome ofruture evenbL AmongSt oilier matter$ the middotyaHdity ofthe going ooncern asslnnptlQll depends on the avaiiabUityof fwldmg Qr financial SUppQrt for the subsidiaty companys project the ahility of the ifOUP and subsidiary company to successfully negotiate ~ and $QWC

licerucs pertinent to their OperntioDS afld their Cmtnal ability to acltieveprofiUtble re$Ulls and positive cash flows

5

INDbullPNDEliTAl)mTORS~ REPORT to the membi-rs of GMRINFRA~TRUcrURE (SINGAPORE) PrE LIMlnm (contit1Uoo

Report on the finauclal Statements (coI11imlfrl)

In Qur Qpinion except for the effects of the mailers described intbeparagrapbs above Ihe financial statements are pmptrly drawn up ill accordance yenrith the proltisions of the Act tnd SinglttptlrC Financial Reporting Standards so a t() give a true and fair view of the state of aft1 of the company and the group as at 31 Mmch 20W and the results in lquity lind cash of the company mui of til group for lhe year ended on thm date

Repm1 on Other legat and Regulatory REquirements

In our opinion the accounting and other records by the Act to be by the cOilipany and those subsidiaries incC1JCrated in Singapore of which we me the aooiion haye been properly kqrt in oceordilncc with the of the A~

Ldn International Publk Accountants and

Cenited PIJbiJc AcctUntllnts

Singapore 12 M3Y 20lO

GMR Infrutnuture (Singapore) Ptl~ UmiWd And Its Subsidiary CompaniCi

Statemmu middotof firumdal P01ition a~ at 31 March lampltl

ASSETS kD IJABllJTlES N()uCtiiTi1lt AUMS

Planl and djuipmetlt Pniject develqpment costs Goodwill on alllstiHlLiriOO Aailable~furmiddotsail finlIDcial ~ Other recciltable

ClllITpoundRt Auetil Olhrr rICeIVl~bHS

Cash and ~laquofuival~ns

TotalMwts

CIUT1eOt Liabilioos Other PltJlltlhes

tOfal Liabilides

tQlllDlt Shari clJpiTill Share appHcatrofl rnt)uiegt AcctUlIi~d lQSSlS

Note

3 4 5 6 7

7 is

GROUP 2010 S$

182689 28328961 14551575

43181225

42U4608 302415

COMPAJJY 2010middot 2009 55 SS

72151

81011161

18000 81378450

iamp4WJOO 62715 143618 210181

middot1993SUI

10141amp

707418

(152411)

69~148900

14038515 (27$1)S)

tOO

362411

82908617

69148900 14038515

(278738)

The annexed notes form an integral ~rt ofan4 shoold be nlltd in conjunction with these financial statements

1

GIDlIDfrastn~ (SinguPOJ1) PteIJmited ~tu8e~Ce~

Statemetlt$orComprebeallv~ Intome for the JeD nded 31 Mareh tIt)

GROUP OllfWlM9

to

3lf031201t SS

Revelle

u 1197672

~iation ofplant ami equipman

12 (1 195t61 )

(5219800)

Profttf(1on) after tuation mid tow (1)mpnbeoKYe incemel(loss) for the pirlOOfl~a1 13 S3J93

The aMeXed notes fonn an integral part (tfand should ~ read in t(mjUflchtm with tbcsefinancial $taietnellgt

COMPANY 01042009 l0i6l1l009

to 10

llf03110l0 3tJ0lJ2l)Q9 55 55

fl86UI) (4132)

(30216l)

(55638)

362531

GMR lnfnutrucltlR (ampiDIIIlPOU) Pte Limitm -ud Its Subsidiary Co~

Statemmb of ~ in Equity for tbe year ended 31 Mardll~nO

Share Sure AppJieatloJl McumlWited

Note Capitid Monia Lones total SS SS SS S$

GROUP

At 1 April 2009 10 69t48900 (361531) 68786369

Share monlQi I4J)385 i 5 14638515

T~)la~ co~helSi~ i~mlcent lor the period 83793 81793

At 11 1arch 2010 69148900 14038515 tP8138) g2~11

At 10 Febnt3ry 1909 (date of inwrparAtlan)

10

100

100

69148800

14033Sl5

(362531)

(362511)

100

~362S31)

(362A1I)

69148)00

14038515

53793 83193

Atl March2tUO W148900 140~8515 82908617

The- MlIl~ed ilOlil fmnllUl inlegml pan orand $ho~1d be read in canjuoctlffll with these ~ltal(mcnts~

GMR Iatfastructure (SiJilgipOTe) Pre Lmdtf1d ADd lIS Subsidiary Companies

$ta~ts of Cash Flow tor the year ended 31 flldllfnft

em fI1)w from operating mfuitiH TotAl oomprebesive profitf(tlJ5lraquofur tbe periodyear

AdjustDie1lt furshy~ ofplantalld equipmerH

Opemting plofitl(1oss) befCTe Uoong eurollpoilal clliimges

Im~ in otblaquo receivables ~ in otber~legt

Csh flow fromluatiDg am~itle Purc~ ofpJant and Cquipment Pa~torproject dtApnwnt clt1S(S

Acquisition ofsubsidiary OOIllpiWies Additiooal ~in a subsidiary Ct~fiY

Net cashmiddotwed in investing activities

Cult nows ftmnfillueiag athilie (OccretiCJfI~mamoUll ~ to imnwdiate holdflll Clgtmpany

(~V~inamounl-t)whlg m a related company ~from issullJXe ofshares Reoeipt nfampbare applicatian molries

Netmiddotcash g~edwm flWlll(ing aaivitIes

Net lnc~(~) in C1tih and tash equivalent Cub and cash eqwvldcDts at the bePming Qfhe periOOiyemshy

Ch and ~h equivalents at end of-the periOO~

rt-e lI~ed notes (ann an integral part of lind Shtntld ~ read in wlljunctioo with t~ [maruilll stlltemenl1t

GR01JP 1)110411009

to 311Q32UlO

SS

38618

1124H

(3943L238)

(249156) (211nS96H

15 045565UI)

(43134li15)

(148144) (381004)

69148800 1403S515

32l~5U61

0111)41009 to

31032010 50S

837~J

(l8~5 IS 284961

05204) (lJ91~1 J)

U4~5633Q2J

(66514459)

un321i917)

lOIOlllOOl)

too 31032009

SS

4132

(35S399)

(62715) 118330

1 156tS

(242184)

(762amp1)

nni81 14361pound

148144 381004

210OSt 100

210181

CMR Infrastructure (Singaport) Pte Limited And Its Subsidiary Companies

Ncrtes to th~ fiwtndaJ statements - 3tMarih 2010

These notes fonn all integral part of and should be read in conjunctiltiU with the~anying financial statement~

The company (COOlpanY regismtion 00 200902416Z) is a limited liability company whicllis incorpomted and domiciled in the Republic of Singapore with its registered office at 80 Raffles Place 25-01 UOB p~ Singapore 048624 and the priscipal place of business atmiddot 50 Raft1es Mace Singapore Land T ower40-02JOJ Singapore 048623

TIle priocipal 3~ivities of too ~ are those relating 10 the provision of infiastructure en~n~gtfingand management serlltlCcs and mvestmentholding

The immediate oolding company is GMR ~ (Mwntins) lJmiteQ a company trueIpOrltl1ed in Mauritius which owns 9999 of the issued sbare capitQl of the company~ The ultimate holding (Ocnpanyis GMR Holdings Private Limited a company inrotpOmted inmiddotIndia Rdmed companies in the financial statements refer to oompanies ~ithin 1he GMR ~ture Limited group ofcompanies

21 Basis ofaccounting

The fmancial statemeots are prepared in acrorOmicewith the historical cost ~0Il except as disclosed in the ~ policies and the p~iSKms of the Singapore Companies Act Cap 50 and Singapore Finaruial Reporting Standards FRS

The groupmd the company hae not applied any new or icvislaquol FRS or interpretations tOOt have been issued as of the date ofthe statement ofOtllUlCta pOsitioll butme not yet effreth-e The initial upplicatiOIl ofthese S1andardiS and intaprelaOOns are not expected to have any mareri2l impact on the ampmllPS Md the company~s financial Slatemellamp The group and the company have not considered f1w impad ofthe accounti~ standards issued after the date ofthe statement offinancial position

The filUtnciat statements are preSemed in Singapore ooUars (SS) and all values are p~ttd [Q the nearesl dollar acepl where indicared otherwise

II

GMR Infrastructure (Singapwe) Pte~ Limited And Its Subsidiary Companies

Nota to the financial statemenb-ll MamhlDIO

22 Significant ammntmg ISijmates aUd judgemenu

The ~tion offinanclai s~ in cooformity w~th FRSs requires management til make judg~est~ and liSSiImlpt~OlIS that affect the applicatioll of policies and repon~ amoonts of~ liabilities mtome and ~1he estimates and associated ~tilPJill~lS me lased anmstoricalatperienee ampld varloos other factors 1hat are believed to be reasooablelllllkr the circumstances thenrsults ofwhkhform the ~sis ormakingme judgememsabout alT)ing ~ ofltIsseiS and liaNlilies I1mt 31etiut nadiiy apparem from other SQurces

The esdlmtes and11Ildcrlyingassmnptioos arelItiewed 00 lID on~pg basii Revisions to accmmtingestimates are ~ in the period ttl which the estimate is revtsed if the revision oolyaffects that period or in theperioo of the revision and future pericds if the reVmon ntTedS both emremmiddot amptd fiJWre periOlis

til Ju~made in applying aemnnting poJidts

11te following aretbe~tsmademiddot by nlttMgement in theproc~ofapplying the companys ~middotpolicieS that have the Ilf)lgtt sltlllficrult eftkt on he amounts reec1li~ In the fillancial statements

The canying vahIes of plant md equipment are reewed for impaimlent wnw there are indications of~As at 31 Marcb 101 O there is no indication of impairmentol1tcrtban as disclosed in note 3 to the fimmcial statement and the ~value ofthe grollfs and companys plant liind equipment was SS28268t

Impairment ofllmiect dewioOOlelt laquolSIs

The groupspmjeetde-~t ooru relate to me develQpIDoot ufa power phm for thegeneraUon and mpply of electricity by its subsidiary oompany As all 31 Marcb 2010 thedirectorsare ofth~opinion tbat themiddot project costs incurred thus tLlr are ~mtiml towardSlhe full development orhe pmject incllidingmiddotthe ~otiatkm ofCOnllacts and ~ ThebtWness mooel is cOflStru1t1y eOhrinamp atmiddot1his stage and decisions on ~tioo (If cont1acts have nat been concluded at the date or this repotL ~indY tbe directors are of the opinion tbat assessing the impairment of the project daelapmenl costs wi be more meanit1gfui 1100 the project attains ~ development

GMR Infrastructure (Singapon)Pte Limited And Its Subsidiary Companies

22 Significant acantDtiog estimates and jadgemeQb (oontinucd)

The carrying value of the ~sm~e-fur-sale investtnents is reviewed for impai~m tbfRare indieatiOtil of impairment As at 31 Mareb 2010 the ~ng value of the companymiddots investment in subsidiary companies is SS81017161 and the directors are ofthe opinion that ~ng the impairmtnt of theinl~ wiU he more meaningful when the subsidiaries are cormnerclalIy iable as further disclosed innote 19 to the financial ~

The key assumptions concerning fbe future and other key soorocs of estimation uncermillty atlDe dateuribestatement ofr1ilatlCial position that bave a sisnmcant risk of caIl$ing a material adjUStinent to the carrying atnQlJ1ltS ofasseti 300 liabilities within lM mat firumcial year are discllSSedbeiaw shy

The oost ofplant and equipment for the groups and ~ys operatiOns is depreciated on a straight line basis over the usdU1 lives of the plant and equipment Management estimates the useM lives ofthese plant and equipment (0 wimin 1 to 5 years These are commen life ~ies applied in the industry Changes in the expected ievels ofusageoould intpact the CCOnrumc USeful lives and the residu8Ialueof these assets andaccordingjy~ future depreciation charges could be nMsed Tbe ~ing -1iJues ofthe groups and C(lffiPm1Ys plant and equipment are as disclosed in note 3

The group ~ld company assess wbethertbere are any indicators ofimpainnent for aUnpnfinancialassetS at each repOrting date Nou-CmancUd assetSaietested for ~lt when there are indicators thai the cairying amounlSmay not be recOlleTablc Wbm value muse calculations are undertaken tnanagememmust estimate the expected future cash flows from the a$lid or cash-sen~ unit and choose a suitable discount rate in order to calculate the present vdluc of those cash flows

G~IR Infrastructure (SinppCraquoe) Ptf Limited ADd Its Subsidiary Companies

Notf$ to die fiwmdaI statements ~31 March 1810

2 Summaryofsignificant ItC01llltiDgpo1kies (~)

22 SigoUJalut aceontiqestUnates and judgements (continued)

(ii)Kty sectOOrte5 01 estimatkm uncenamty (c-ootinwil

Impainncnt orimms and reeehrab1es

The group and company ~ at each dcde ofthestaterrtenluffinancial position wb1tbetmiddotthen is any objccthe evidencemiddot that a fimmuia amp~ is impaiJred T() OOtemrine ~ there is oljectiw mdencemiddot of impll~ t1re company oonsiders factors such as the probability of insolvency or sIg)lificallt financial d1fficuities middotof the debtor anddeflmlt or sipificant dciay in payments W-lte there lsobjective evidence ofimpaitment the amount and timing I)f future cash flows are estima1edbased on historica1loss experience for assets with similar credit risk ehamchrisllCS The canying amount of the groups and tbe companys loans and ~bles at the date ofthe statemtnt offirumcial po~ition are SS4313S083and SS20l151amp respectlvitly

Significant jwfFment lmd ~ioas an involved in determining the grcups and the OOU2pan)S provision for ~aUamp The group and rompangt recognise liabilities for ~ed tal issues based mimiddot estinwes ofwhether additional taxes lrill be dlle WberemiddottlJe final tal( ootoome of these nmtteampis different from the amounts that weremmdy ~sed such differences win impact the ~ tax and deferredtax provisions in thcpenod in whicll such determination is made Ali at 31 March 2010 me company bas unrecognised tax losses whichare subj-ct to a~by the tDX authority as disclosed innate 14

The COIlStJUdated finaDcial statements include he tinancial stBlemefl151- of the company and its subsidimy companies made up t) the end of the fiuaooial )eaf Signifiamt imer-compmybatances aoo tmnsadlons are eliminated on ooll$()udation The results of subsidimy companies acquired ordisposed during tbe yem are included fuJIn the effective date ofmquisitiol) or to the eff(1liivc dale ofdisposal f(middotspecthely

Subsidiaries me entities (including special pwpose entities) O~ which the group bas power to govem the financial and operating policies gtmeraliy lliCcompanjed by a shmebolding giving rise to lit majority of the toting rights The exi~e and etl~i of potmtial ttlng rlihts that are currentJy etcisable or romenihle are considered when assessing whether the group controls another emity~

14

GMR Infrastructure (Singspore) Pu Limited And its Subsidiary Companies

2 Summary ofsignifieant alaquoounting polkies (continued)

Subsi4iwies (CQlltinued)

The purehase method of~ng is iiSed to acoowtfor Ihe acquisition ofsubsidiaries ~ cost of an acquisition is measured as the fair ltliue of me assets given equity imlromems issued or 1iahilitics incuned or asswnedat the dates of ~plus oosS directly attributable to the acquisition kienHiiabie assets acquired and liabilities and contingent liabilities assmmd initbusiness combination are ~ured initially at theirmiddot fair Blue on Ihe dale Qf acquisition ~ve of the ~ of ~ting interest Pfmiddotease refer ooote 24GOOdVill on consolidation for the accounting policy 00

goodwill on acquisition ofsubsidiaries

Subsidiaries are consolidated fimnthe date on which control is tmnsferred to the group TllLY are de-consoiidated trom the date on which OOIltrol ~

In preparing tim consolidated firumcial st~tlallRctimIs baImlCes and unrealised gains on ~ between roup entities memiddot eiimbIaled Unreallsed losses are alsa eliminated but are~dered animpajrment indicator oftheasset transferred AcoowItmg policies ofsubsidiariesbaveOOenchangedwhere ~ to ensure consistency with the polIcies adapted by the group

Please refurto note 2amp - Invesunents insubsidiary companies for the accoulltingpolicy onmvestments in subsidiary companies m tire separate fmaneiru statements of the e~y

24 Goodwill on consolidation

CJOOdwiH IS defin~ as any excess ofthe consideration paid mer the fair vame ofthe net assets ~uired as at the date ofacquisition Goodwill is stated at cost less accumulated impaionent losses Goodwmis tested annually tor impairment asweli as when eveJUS or changes in dro~ces indicate that the goodwill may 00 impaind

Wbere the consideration is lower than the fair value of the net assets acquired the difference wiUbe ta1ren to the statemMl ofcomprehensive income

15

GMR Infrastructure (Singapore) Pte Limited And Its Subsidiary Companies

Plam and equipn1cnt are SUIted at c)()s less a~ depreciation and impairment losses ifany Depreciation is ca1cutated on the strnigltt line nmthod to write off the CO1

ofthe assets over their estinwoo usefu11ives Tbe estimated uscfulliv(S ~re as fultows shy

Ccmputer equiptneni 03years Office equipment 63 years Fumitureand fittings OS years Iasehoklimprovements 03 years

The ~1llg values ofplam aM eq~ are 1eiuwed for impairmmt -lihen events or changes in cmll1ll5tal1ces indicate that the omying 81ue may tlOt berecovemble

The leSidual values usdhl1ives and depreciation lnetbOOs areleviewcd at each financial year end to etlSUte that the amount methodand period ofdeprecialion are consistent with ~1i estimates and the ~~ted patterll ofoonsllllllpti(u of me future QOOOmiC benefits embcldkd inmiddot the items of plant aud eqWpmLni TIle effect of any cbanges in esUllate is BiCOOUDlm fow 00 a prospective basis

An item ofplant and equipment is ilerecognised upon disposal orwht-n [lI) future econoouc benefits are expecWd from its use or disposal Any gain or Joss arising on derecognitiOl1 of theSse is included inthe statementofoornprehltmsive~me in the periodwncll the a~Sct is~ed

Fully depreciated plant and equipm~t We retained in the finaucialslatcmcnts [hlti hey are 00 longer in use

Proje1 de~ 00SlS relatmg to 1he development and CIl11structinu ofa pmver plant by one of 1he company~s subsidiary company are stated at cost CostS comprise expenditure thatis wl10Uy $tld exclusivety ~ for or in Clmnecion witb the project

16

GMR Infrutructurmiddote (Singapono) Pte Limited And it5 SubSidiary Companies

Firumcml assets within the scope efRS 39 (FRS 39) iiiIin classified as either financial assets at fair value through profit or loss ~Ililld receIvahles or availablemiddotfor~sale flBllJlcial ~ ~s appropria~e financial assets are recogni~ on tbe statement of financial pgsil10n wbm and omy whea the company becomes 11 parlY to the cootmctna1 pro11skms Qf the fi~iMtmrnent

When financial assets are recognised initially they are measured at fair ltmue plus in the case of fimmcialmiddot~ not at fair1I1ue through profit or loss directlyattribuiabie tratlsactioftoosts 1be company ~ theclassificarion of its financial ~ after injti~l r~tion 1IIlfiwhtre allowed and awropri~11e reoevwWltes thisdeSignation at eruh fl1WiciaI mI eoo

Noo-derlwlJe fitianciaI assets with fixed of ddeuninabte pajments that are not quoted inan active market are classifiedas loans middotand receivablCSc Soon assets are carried at moortised cost using the effectiw mtemst melbod Gains and losses are ra~ in thesmtemeru of oomprdunampive ~ wbsl the Woos and receivables are dereco~ or impaired as weU as t~ the amortisation PfI)cCSS

TheiOups and me companys loans and receivahles include other nxei-ables and cash and cash equivalents

All1Iilable-fursale fimmliai assets _ lOOse oon-derlJative fmancialrussdS that are designated as available-im le ornotdassified in the abow category After initial recogoitioo availabemiddotfor-salefinamiat assets are~ at fair value

gains or l~ being rooognised as s separate OOnIiPOnent ofequity tmUllhe illVes~ment 1s ~Of unill the imreStntenl is determined ro beimpa1red at which time the ~ve gain or loss previou~lynpo~ed In equity is included in the statement ofcomprehensive iooome

17

GMR IDfrutructun (Singapore) Pte Linriml And Its Sub$idiary Companies

Notes to the finaudal statements - 31 March10lD

(ii) AuilahJefor-sale financkl assets (continued)

The filir alue of~~ that are activcly traded in organised financiid markets isdetermined byrefermce toquoled marka prices at the dose ofbusiness onthc date of the statel1Hml offinancial position For jnv~ where thrre is no active ~ poundair value is determined using fslWlfion teclmiqucs Such lechmqucs include nsin3 ~ann~ length II1iUket tmnsactions referellCe to tile current market value of another jnstrumem~ which 15 sWEtantially the rutie di$collJlkd cash flQW analysis and option pricing models Unq~)ed equity ~witOOutan active quotedmarke price and whose r1k litllue Cth1llot ie reliablymealmd are measured at coot lessimpainnent l()$pound

Subsidiary companies ate those companies controlled by tlle group Control exiSls when the group has the power diJectly or ~~ to go7ttn the financial and opmatillg policies ofa company

mVesunel~lii in subsidiary co~ are earned at cost less accumulated impairment losses in the campariymiddotssWement of fiIlancial pt)Silion On of inlelltmenls in subsidiary COlnparues the difrenmce between disposal PtO(~ litlld ibe carrying amounts ofthe illVestmeI1tS are~sed Illlmfit

OtherrecenllbJes aremiddotacoounted for as loom and rcentcdvbl~ Illldir FRS 39 They are lflCOgnised andcamed at their fair all~~ on uutial recognition less aDowaThe for any lIIICOUect1bie~ AlJfJwmce fordoubtfWdebts is made when coU~ionofthe fun ~t 1S 00 lQIl~probable Bad debts are writtm ofwben identiiled

18

GMR InfrastructuIC (Singapore) Pte Limited Alld Its SUMidiary Companies

210 lmpairment

The ~amountsof~ grmIpmiddotsMdtbecompallys assets are revi~~ at each date ofme staterncntoftmanclal position to detennille whetber there is any objectic evidence that a financial asset isimpaired Ifsuch lndieatioo exists the airaquoelsfe(Qverable amomt is estimated Where it is not po6SIbleto egt1iinate the recoverable amount of an individUalmiddot assclthe mariagement estiinates the reooverable amount ofthe~unit to which the asset bdoogs

RocovemhJe amoonI is the higheroftairvaJoo lessmiddotCOSUI kI selland alue in use In asSessing value in use the ~ed Wture casb flows are d~ed to their preseot values using apro-tax d1soount rate that reflects current market assessment ofthtHime alueofmimey and therisb specific to the asmt

Ifthe recoverabkampnoont ofan ~orcas~uni1is~ tQ be les~ than itscarrying~~the~ amount ofthe asset or cashPlerat1fgunit is reduced to its ~ie amoum The impairment lOB is ~ iJnmediatcly in the ~ of ~~ income unless itmvmes a previous nMliuation credited to equity bull inmiddotwrueb ease ilwillbe charged to equity

Wllere an impairment loss subsequently reverses the carrying amount ofthe ~~ or cash~emting uni is iDenasedlo the reviSedestimate of its recovernbk atn()illiI The itlaeasecannot exceed the aurying~ that wooJd have been detenninednet of depreciation had no impairment loss been r~ previously Such reversal is recognised in the ~ of~e inoome unless the asset is measured at revalued ammmt in which case the reversal is treated as a r~don~rease~

If there is objcdiC evidence that an impairment loss Oil loons and recci~ablcs carried at amortised Q)St has beat inI~ he amouni ofthe losi is measured as thedlff~ between tbe asset~s carrying amount and the present lliue ofeslimaied future cash flowsdiscoun1ed at the fimmcial ~sotregnaleffxtive interestmte_

19

G~fR lurrstrueture (Singapore) Pte Limited And Its Subsidiary Companies

210 Impainnent (continued)

(li) Impairment offioandal ~ (continued)

The earrying amount of the 8s~ is reduced through the 151 of an allowance account and the amount of thelQSS is rerogrused in tIll ~ ofmiddot ~ive inCome u in a suOOequet) pmoo me amount oftbe ~ent toss ~ ami the decrease can be relatui objectivelyto an event oooumngafter the impaittliimt was recognised the pte-ioUSly rec~ impairment loslt is teVmsm ny ~ent reelSal of an impairment loss is recognised in the statement of comprehensive mrome to themiddotextent that the caII1ng valw of the asset does not exceed its mmrtised cost at the reversat date

Ihn availahle-far-sale firumcil1imiddotasset is au amount comprising the difference middotbetween i~ cost (net of any principal payment and ~ori) and its cumnt fair valtre less any impaimllmt loss previ()USty ncognised in the statement of comp~~ ineQme is tnmsfemd from equity 10middot the stmancnt of romprefiCllSi-e income Reversals in respeclof equityinsmlments middotdassmed as availahle-for-sale are ootrecognised in themiddot~ofcomprehensive income Reversals of impaimlent Josses 00 debt instrumems am ~ through he statemem of comprehensiveinoonle if the illCre3se in mit value of the instrulllent can be objectively related to an ellel1l oeemring after theirnpaimwnt 1050$

was ~ in the stalemem ofcomprehensive income

211 Financiaillahilities

Financial liahilitieamp are reoognised on tbe st~tement of financial position whefl the company becomes a party to the cOll~lprovisioru of the financial imirument Financial liabilities are ~ised initially at their fair values plus in the case offinancial fiahilities other limn defi~ diredly attn1rutable transaction CQilts Subsequent to initial recognition all financial Jianilitiesare measured at amortised cost using the effective itUeteSt method ex~ for derivatives wbiclt 3m meamp111eO at fair alue

20

GMR Infrastructuremiddot (Slnppore)Pte Limited And Its Subsidiary Companies

The eflOOtive interest method is a method of calculating thC amortiseu cost ofa fmaucialmiddot liability andof allocating interest eKpeme over the relevtmt period fbe etrective interest rate is the rate that exactly discoutlts ~firture easb pa)ments throughtheexpeacrl life ofthe iimmcial Uam1ity or where appropriate a shorter period

(hIter payuhles are carried at cost which is he fair aiue of the considemtkm to be paid ill the futnce for goods and5enices received whether or not billed to the group and the rotnpany and subsequem1y ~ at aIOOrtised cost using the effective Interest method

113 Dereeoguifion offmanciaJ aSRts Ilmlliahilities

(i) finandal aum

A loan or receivable is der~where thecontrnctual rights to receive casn flows from the asset have expired whicli usually comdcs with receipt of payments for the asset On~tion the difference between thecanying amounI and the smn oftbemiddotconsideraUon received is recogmsed in the statemmt of comprebcnsie i~

financial liabilities are d~sed whenihe obligaticm under the liability ismiddot extinguished Gains and losses are recognised in the stmenient ofcomprehensive income Wh(l1 the liabilities are ~gnised as wen as through the Imlonisatioll process

GMR Infrastr1Kttlre (Siagapore) Pte Limited AIId III Subsidiary Companies

NoteS to the fimmdal statemeDt5-31 Maeh 1010

214 Leases

Leases are classified $S t1nance leases whenever the tem~ or the lease trarulier ~Uy aU the risks and rewards of ownership ro Ibe lesset All otber i~ are classified as cperatingleases

Rental~ ptt)tlbleunder operating l~ are clmgOO to the SIIatement of oomprehtmive inoomeona straightlmebasismv the termoftberelevanllea~unless anotbersjlstcmatic basis is more represemative oftbe timepattem iu1irilich economic benefitS fuJm the leased asset are consumedbull Cootingent remals ifmiddot any arim~ under operating leases are ~sOO as an expense in the period in which 1kyare inettrred

In theevoot that leaseimentheS are received to enter into opernting leases such incentives aremiddot mognisedmiddot as a liabiRty The3ggrqJate bcmefit Qf incentives is ~soo as a redootioo ofrental expeme on a stnJigbt-3inebasis except where anQthlaquo systemat~c basis is more ~tiveof[be timcpmrernin whiCh ecooomIc benefits frortt the leased asset are eonsumed

215 Deferred taxation

J)eferred ~ion iii provided using the liability method on aU temporary differences at thedate oftheamp18tcmeIntoffiwmcialposirion between tIlee tax bases ofassets and iiabilities and their canyins IIIImWlts for financial reporting purposes Deferred tax assets and liabilities are ~using the tax rn1es ~ to apply to Uliable incotne in the years inwhich tfrose reoJpotmy differences are expected to be retOVend or settled baied on ihI tax mtes eMCted orsubsmmivdy enacted at the date ofthe statemt1Ipound offinancial J)lHiitlon

Deferred tai assets are recognised for all deductible temporary differ~ cmyfoNard of unused la asSets and unused tax Iosses to the extent that it is probable thai tauble profit will be 1m1iIable apinst wlticlllOO deductible temporary differe~ iaYfonvam ofunused tax ~ and unused1a~ lOsses can be utilised

216 Shan capital

Ordinary shares arccfassified as equity~

fncremental costs dimtly attributable m the issue of(Jrdillary shanS and share opthms ru-e recognised as a deductiOn from equity

22

GMR Infrastructure (Singaport) Pte Limited And Its Subsidiary Companies

217 ineome recQgnition

Int~ income WID bank deposits are accrued Oil a time proportion basis on the ptinclphl ~ill8 and at the appJieable [merest rate

Items includld in the financial ~of the gIQUp and the (OIllpany are l~ using the ~ that b$ reflects the ~c substance of the underlying events andci~~ relevant to the oompany (fiinctiooal currenci) The financial statements of the ~y and the ifOUP are presented in Singapore daHars which is alro1hc functional emreruy rifthe oompany

T~lons in foreign currencies aremeasured In dre fimctkmal cumncy of the oompmIy and are recOrded on initial ~tioo at ~nttesapproxillWing IDosenilirig at the tiansactiQri dates MOnetarY as5etsand liabilities denominated in fureigncumnclcs memiddot tmrislatedatthe closing rale ofexehrulge mling at the date ofthe statement of fiMllCml positioo NQnmonetmy items hat are measured in tenus ofhistorical 00Igti in a foreign CUIIeICy ate trnmllted using the exdange mes as at the dates of the initial tnlnsactions Non-mooeiary items measured at frllr value In a foreign currency are tnmsmtoo using the ~change mles at the date t1ien the fair value was dct~

Exchange differences mising on the settlementofmolletmyi~Or 00trnnsJaring mondmy items at the date of the statement of financial position are recognised in the statement ofcomprehensive ineOOle

23

GMR Infrastnaemre (Singapoft) Pte Limited Amilts Subsidiary Companies

NoW to the fimmclal statementsmiddot 31 March lDID

2 Summary ofsipiflemt acooURtiog policies (continued)

2 19 Employee hener- (i) llcfwed contribution plaus

A required by law thecompanynmlres contributions 41 the staie pellsionScnefl1e the Cemnd Provident Fund (CP~ cpp contnlrutions are lttOgrllSOO as iiiraquo e~ in tbe same period as the employment that gives rise to the oolltribufiollS

Sbmttenn employee benefit obUgMions 8reffiellSolfOO On nn midisconmoo am are expensed as the related service is pnnided

A promion is nwognised fortlre amoont expected wbe paid llIlder short-tenn eash bonus or profit-sharing pians if the company lltls a present iegal Dr oonstmdive obiigation t6 paythis amt)unl as a ~~tt ttl past lierire provided by the employee and the obligation can be estinmted reliably

220 lueome tax

Themiddotmx currently payable is based 00 trumbieprofit for the 1lar Taxable profit dillers from profit 8S lq)Orted in the statemem of comprehensive moonte ~useit exdudes items of inoome and apense tliat ate taxable or deductible in otllef ymrs and it runher e~ nenlS thal are DOI1aUhe or Inx deductible 1he groups liabilj~ for current tax is caloolatal using tax mttlS that have betm enruted or suDslantivey enacted in ooUlUntS whefethe subsidiarycoanpanies tlpCfated by thedate ofthe staremenIof fimmcial p1gtitioll

Cash and cash ~aienls comprise Ctillin hand and bank halruJetS Reslitred deposits are excluded from cash and crulih equh-almts

24

GMR Inftllstrudnre (Singapore) Pte Limited And Its Subsidiary Companies

Parties are considered to be rclated ifone party bas tbe ability to control the other party or exercise $ignificmtt influence over too othermiddot party when making tmaneial or operational decisions In considering ench~le related party rellluotlShip attention is paid to the sUbstance ofthe rcllltionshipllot merely the legal fOmL

Related parties include the youps ami companys shareholdms keytmUmgement persormi assoolates and entes-prises in which a substantiai interest in the voting power is ovoned directly or indiredly~ by the groups and companys shareholders or key fflatUlgetnent personnel

GMR Inrrastrueturc (Singapore) Pte Limited And It Snblddiary Companies

Notes to the naaudalltatenwnts-31 Marcb 2010

3 Illaal nd eqtlpmut

QSQlH COlIstrueUun Contplltff Offirf rr CtIlre L~a14hold

in Po14feSiC I~qldpmtllt eqldptncml IIDd flttlugli imprftWment8 TotJll Cost S$ is S$ S$ S$ SS At I April 2()09 16315 58368 1600 16283 Arilii~ from Ul1quQiiion of lilJbsidi~ 101)09822 133284 11614 101754780

__~$t214__ 561(17

At 31 Marcb 2010 [(Ht609~822 224U3 70042 S8307 10208(1219 117235 nliiU

A(l(lumllhUed Dtpredadolt and EmplllnncmlA~1$

At I April 20W 867 27 4132 AriRlug ii-om ilcquisitk1U of

Nuqidiartc t) Il~0922 1J3284 1)614 101754780 Depreciation cUtfjtC 19~--~~ ~ Alll Maroh 201lt1 3485 ~~~fl~ 3119 101797530IIH6tJ9fI~ II 14721QIl I

Nllt fkH~k Villoc

282689_35A~ 55743 At 31 March 2010 ~___ A bullbull~~~~m~~amp~~

77S73 _ 5middotL- 11~~1(

f middotttlH ill progreslli ofa subsidiary CltJmpU1Y ncquirtd during Ihe yew hils bcel1 ttlly il1lpllit~d in 2007 as (unher disclosed in note 19 to the

26

(MR In(rlltrlidnrc (Sitlgaparc) Pte Limited And Its Subsidiary CQmpnnies

Notcs to fhe filUuu~ial ~tlltermmt5 ~ 3J MIJnh 20W

-~-------~-~--~-----------------

J Plallt lind IqulpmNlt (onlinncd

~QMI~~Y

C(llij

At 10 Pdmlllty Wt19 (dlltl) ~1f inc()rjiotfitlQu) AdditimlS

At 31 March too) Atldltioll~

At 3J Murch 2010

Actlunulateti Depredation

At H) Flbruary 2009 (dnf~ lgteprcoialioll cbnrgc

At J 1MmCh 2001

Alli Mlmh 20u)

Net Book Value

At1 Mamh20JO

At 31 Mllrnlt 2Oil9

Cm1lIUltfI

lq1tipm-n sS

1631S

91t~

867

13956

7$73

15448

Office Iltulpmctlt

SS

58368

32)8

3238

I d ~291J I

J~iS7

55llil

FumUnre and flttings

SS

lliOO

58301

Z1

2 3M I mill ~ Illn

__~~1~L___ 1573

LllIliebold impfo~tuwlts

SS

----~~=--~lt

11721

11235

-----~~- shy

3319

l319 I I t t=t

I

fotal is

7()~$l _____

76823 __22J~__

325439

4112

4132 JR618shy

4215fi

282689

7231

27

GMR lnfraltruaure (Singapore) Pte Limited And Its SubsidiJDy COOlpanies

Staffcosts(excluding CIF COnfnDUtlOOS) PF contributions FOIeign excbange loss Interest income

GROUP 2010 55

2amp328961

GROUP 1010

SS

1231000

GROUP 1010 SS

14551575

The ~le assets and liabilities of a subslrliary oompmy acquired and assumed ra-pednely dwing the YQlfwere measured ameir costs at acquisition aa1e mteaU of their mir values The diNctorlare ofthe opinionthm valuing tneintangjbies embedded in the subsidiarys project for the development cfa natural gus power plant at thispoiru in time wooki be quite prenUUure since the subsidiarys business nKldel ismiddoteV01~ and decision on n~iating tmSe c~ lUiS not betm amelUded at the date onbis report Accotdingly the directors are oftbeopinion that detmnining the fairvalueund ~ng the it~ofthe goodwill is more meaningful whm the de1llopmet1i

Qfthe substdimycompanyS prQject attains substaooal pmgress

28

GMR lnfrastructnre (Singapore) Pte Limited And Its Subsidiall Compoic$

Notes to the rmamial stBtlllreuts - 3) March lOUf

COMPA1If ~lO 009 ss SS

81071761

Piaceof Penentap ofeffective ilttiOrpOraliool ~held

Name of tompany PrinclpaJ adMtics bminess 2610 lOO9

htand Power Ownand opemti~ (If ltnmpany Pte Ltd a pover plant

Island Power lnvesttneu holding 100 Imentllldiary Pte

ltd

Island Power Supply Dismnution of 100 Pic Lt(l 1cclricity dorman

dwiDg the year

29

GllR Infrastrueture (Singapore) Pte Limited And Its Subsidiary Companies

NolI~ pgrtioo

Stafftoan

CUflCIUportiou Interest receivable Deposits GST reecivable Staffloan AnIowtt oWing by fa subsidimy ~ny Amount ~ing by a related company

GROtJP 2010

SS

18000

698366 98980 27~262

4I985OOO

42814608

42832608

Qtler receivables are denominated in the lo11owing cmrencies

GROUP 10lO

SS

United States DoHms Singapore Dollars

42683366 149242

42832608

COMPANY 2010 2009 SS S$

18QQO

98230

5000

1146670

1amp49900

Lamp67900

COlIPA~Y

2fil0 2009 S5 SS

1861900

The amount owing a subsidiary company Llt ~ oonmiddotjnter~ bearing and repayable (Ill

detnand

The amollIlt owingby a related company is ~d bears interest at an effective intenst of2785~ (01 equivalemto 6 months usn LlBOR pllls margin of200 basis pointS) pa- ann~tm and repayable within one year or Oil dcnrand

30

GMIl lnfrastructure (Singapore) Pie Lilllikd And Irs Subsidiary Companies

Oiher creditors run payiJble Accrued~

Amount -immediate holding company Anlount ow~n8 to rclated companies

GROUP 2010

SS

45amp25 256plO

3ra415

CROUP lOll S8

352417

242766

2794448

3389631

CO~IPAlY

2016 lOO9 S5 SS

45amp25 152061 91793 58120

210181

COMPANY 2010 2009 SS SS

144022 76503

242766 3129 148144 38UlO4

463291 701478


SS6J35

GROUP 010

SS

Greal Britain Pounds 236544( United Stales DllIlars 625857 Austrnlian Dollms n546 Singapore Dotlars 386788

The amotLGiS to the tmrnediate holding and related oompacies are unsecured non-interest lKdlUU and renIBIllC on demand

31

GMR Inrrutrurture (Singapolt~) Pte Limited And Its SubsfdiaryCompallw

Notes to the fiDaoei1 statemeQQ 31 Manh 2010

10 Share capital

31MaKb 2810

No ofShares

3] Mar~b 2009

No ofshares

31 Marth 2010 SS

31 ~iareb 2009 SS

Issued and fuDy paid up -ordinary shares At the bcgimrlng ofthe

)efirfperiod

Issuedduring the yearperiod

100

69148800

100 100

69148800

Wi)

At the end ofthe yamperiOO 69148900 69148900

During me financial year the company increased its share capital to SS691489tID by wliIY of cash through the issuance ofan additiOll8J 69148800 ordinary shares

1heordinaryshares have no par value l1teholders ofordinary sharesare entitled to receive divi~ as and when declMed by the company All ~ shares poundany one vote per share withOl restrictions

GROLIP OlO4llOO9

to 31J93t2010

55

COMPANY OtlO4ll009 16m1JlOO9

to 3110312010

SS

to 3l9JI1W9

SS

Es~c~ to subsidiary company Other tno)me

1183469 14203

1lS3A69

7191612

14203

32

GMR lnflsstnKtorc (Singapore) Pte Limited And Us Subsidiary Companies

12 Staff eosts

igtirectms of the ~y Directors salaries and bonus Directors CPF contributions

Olher staff ofthe oomPlWY Staffs salaries atidbonus Staffs CW contributions Other staffrclaled costs

GROUP OIJ04lZ009

to 31J031l010

SS

1142662 i 1822

581908 25260 33809

COMPANY Ol1D4JlOO9 l002llOO9

to to 3Ift3IlOIO 311OmtlQ9

s~ SS

1142662 95121 1tSl2 946

5iH90S 1273 25260 185 33S09 205236

119S~46 1795461 30b161

Oilier lOOn as disclosed ~here in the chaQg1llgJ(crediting) the follov-ingshy

Foreign exchange (gain)lloos Prelimimuy expel1ses

iinancial Matements tbis is determined after

GROUP COMPANY 01JD41lOt)9 DllMllOO9 10l02I2009

to to to 3t10312iUO 311ll12DlO 31J0312009

SS SS 55

(844) (84496)

GMR Infrutructure (Singapore) Pte Limited Audits Subsidiary Companies

Notes to the fimmcial statements - 311Iardi lOU)

14 Taxation

The numerical reconciliatioo bemeetl the accounting profit and tax expense is as followsshy

GROUP COMPANY OllO4llOO9 01~l(t1OU200iJ

to to to 31103Jl010 31JOlllOIO 310312009

SS SS S$

Tax at the applicable taxme of17 14245

(362531)

Taxeffectti 01 shyExpenses not dedUdihlefor1ax ~ Income ~ $Il~ect ~o la Othefs

(16719) 814

Unabsorbed la ross carried fiJrwmrl (2534) 2534

Current taxation

As at 11 March 2010 the eQrnpany has estimated urm~ tax losses amounting to 5$368500 (2009 NIL) fur WhIch deferred tax benefl(s have not beenmiddot ~ in the financial swemems because il is tmcertain thal futuremxable profit will 00 available the oompany Clln

utilise the benefits However dle Wltlbsmned tal losses are available for offseuing nst fUlure taxable income subject to there being no substantial change in hmebol~ as reqwrcentd by the provisions uftbe Singapore Income Tax Act

GMR Infrastnt~ture (Sinppore) Pte Umited And Its SuMidiaTY Comp~udes

Notes to the iinaDdal statements -31 March BI0

During the fmandal year the rompanyacquired Island Power Company Pte-Ltd and it~ subsidimy compani~ Thenemiddotassets acquired and uabiUties ~SlUl1ed are as fDHows -

GROlJI lil0 SS

Otherroceivahles 52364 Cash and cash equivalents 6784 Other pagt1Ibl~ (47421)

Net tlSScentfS acquired il127 (loodwiU on consolidation 14551515

Cost ofacquisition 14563302 Less Cash and C$h equlVWcentnls ofsubsidiary

companies acquired 67S4)

Cash outflow on acquisition net ofcash ac(ttired

(i) SigIlifi~nt lrmsat-tions with remted pruties 00 tenus mutually agreed between the parties were as follows~

GROLP COMPAlY 0110412009 0110412009 10lD1I2009

to til 3l1OllmO 31103JlDIO

S$ SS

E(penses charg~1 to a subsidiary company

Payments made on behalfof a subsidiary oornpany

Other expensegt included in project delt~lopnIent costs n~hy related companies 8777669

Management fees cbargedy related companies 11298673

fulerest reeehraole from a related company (698366)

35

GMIl Infrastnlcture (Singapore) Pte Limited And Its Subsldiary Companies

Notes to tile fbliaocial statements -31 Marcb lOt 0

16 Related party transa~1IS (continued)

(ij) Kcy~tpcrsoMel~-

The key DllIIlaganent personnels remuneration include fees salary boo~ commission contributions to definedmiddot oontn1mtion plans and other emOluments (including benefiis-in~ldnd) computed lmed on the coS incurred by the group and the company and where the group ~lnd company did not include mty coom the value of the benefit The k~y lllanlIgement permnners rcmulmlllion is as followsmiddot

GROUP COilPAI 0110412009 0J11l41Z009 UlJOVlOO9

to to to 31iD31l010 310311010 310ll2009

sSe ss SS

Soon-teon emproyeebencfits (including salaries and related costs) paid orpaymleta directors ofthe ~up(oolpalY

17 Capital mauagement

Capital comprises of sllare capital andresenres staled on the statement of financial position Ule groupS and CompatlYS objoctivcwben matllging capital is to safeguard its ability to contUlue us a gping cent()JlCml SO tbat it can continue to provide retums fOr shardloldersL The group and the COOlplDlYniJmagecapiw by regularly tnonitming its current and expected liquidity rcquirelmnts M well as using ddWequitymtio analyses

The group and the cotupany are not suhject to either internally or externally imposw capital le(Juiremenls

36

GMR Infrastmdure (Singapore) Ptt Limited And Its Shbsldiary Companies

N~ to tile financial 5tatetnem - 31 Manb 2010

18 Financial umrnment5

The foUowing sets oot the financial instruments of the group and the oompany as at the date of the statement oftjnanem~ positionshy

GROUP COMPANY 200 lOID lOD9 S$ SS 5S

Jlt1nancia1 assets Available-fur-sale fimmcial aS~hl 81017161 Otherreceivahlts 42832608 1867900 62715 Cash and cash equivalents 30475 143618 210~Hn

Financial liabili~ Otherpryabks 3389631 463291 707418

Risk management is integral to me groups business The management continually nl0mtors he gnmp~s riltk ~ement prooesstn ensure that an appropriate balance between risIt and laquoI111mt is achUwed Risk management policies and systems are~iCed regularly to refled changes in market cooditioos and the companys aethdties

The main risks arising from tbe groups and tbecompanys fimmcial ~are-ctedil risk liquidity risk ond price risk primarily changes in interest rates and foreign excllange mte$ The mmagement monitors and comrols its main risks in tlw following mmner

Financial iruJtrun~s rontain an clement of risk in that tbe coWlteIpU1ies may be uuable 10 meet their ohiigatiQla The management minimises this risk by dealing with crOOit--orthy coonterparties assessing and evaluating edgtling and new rustQfllWS credit reliability and monitorilig of the collcdibility ofreceh8hles

The group and cumpany place their cash and cash equivalents witb established instirurioIlS_

37

GMR IDfrastmeture (Singapore) Pte Limited Am Its Suhsidiary Companiu

Notes to the fiaancial statemeati - 31 MarclilOJO

18 Financial 1ustntmems (continued)

middot182 Risk ~ent (continued)

At the d1te ofthe statement offmancial position the group and the company have no sigriilkani Ccmcetltration of credit mi lbe maximum exposure to credit risk is repr~ by the carrying amounts of each fiPallciru aSSel in tl~ statements of linanejai positiOn

Uquidity risk is the risk that an enterprise wiu enooumer d~fficuhy in raising funds to

meet commi1mems associated with fimnclalillsllllmpoundnts and il$ project

In the llllUlag~t of liquidity risk the group ami company monitor and maintain a level ofcash al1d cam equivalents dmned adeqtJilrtf byrne ~ to finarue the groups and the companys operations and mitigate the effects of tluctuation iucash flows

rh~ roniPlctuallnuliscuunred ca$h omtl()Ws of tinanoialliabilitiesi excluding interest ~ and the impact ofQa~~ are as disclosed ill tbe sta~lpound offinancial po$ition

(iii) Foreign acbaage risk

Foreign exchange risk is the risk to earning and value of financial instnm~ts caused by tluctuation in foreign excbange rates The groups and the cnmpanYll expoouro arises trom tmnsadionsihat are dfllClfiJrunea tIl a currency other tban Singapore Dollars The currmtygjving rise to tbis risk is primarily the United States dollars At the-cQ-rthe statetlkftt oftmancial position the group and dre company do oot use deriwtive fimtlltial instruments to hedge their exchange risk Tbe excrumge rates are monitored Tegularly

38

GMR lnfrasttuctnre (Singapore) Pte Limited ADd Its Subsidiary Cnmpauies

Tbe foHowing dernoostrates the sensitivity to ii reasluably possible change inUnitcd States dollar against the Singapore dollar with aU other variables held wnstant~ of the companys profit bef(lretax

lntteafe(l)emm5e) in cnmpaftYs FoOt before to tn~ IfWlIlOO9

United StateJ dotlar - met~~ t 2009middotmiddot - weIkeued 1 (2009 ~ i~~)

(145516) 245516

(3213) 3273

(Iv) IntCTeU rate risk

merest rate risk relates primarily to the risk tba the ahte offinancial tlllt1rumctlts ~ill t1nctua~e as ill result of changes to market interest rates Suiplus cash and cash eqllhlllents ate placed with and fmandng is obtained fmm estAbliShed financial institutions at fsvordble interest rates andternlS and conditions avaUable tthe group and the company

The gmupamp and the rompanys aposure to crumges in interest rates nlates primarily to imerestbcaring tlnaneial assets Management has ~ that the exposure to changes to interesl rates i minimal and h~ lbe temlting impact on profit and loss or equity ofthe group and the company is insigniJicant

HLJ Fair lIIIUpound5

The diredlJrs are ofthe view that the fair values of the financial assets and oobilihes 8$ at the date onhe stltltement of fimnciai position approximate their eanying amounts as disclosed in the slatmmnt offinancial position and in the notes to tire finIIlCial statements

39

GMR Imrastructure (Singapore) Pte Limited And Us Subsidiary Companies

Nota to thdiWU1dal statemeuts - 31 March 1010

19 Other infonnafiou

DuriJlJ the year the company acquiroo lsiand Power Company Lut f~we) which was priznarilyset-up to devclop and generate fbi supply ofclectricity In )ate 1007 a supplier terminated a Gas Supply Agreement with IPC as it bad not been able to secure the transportation ofgas inooJllleCtionwitn its project With signlflcam uncertainties over IPCs ability to ~re the ~pply and ~ ofps as weUas certain detllcpnlmt risks associated with the pmject~ devel~l activities coold net continneAccordingly the former management perfOJJntgtQ an assessment ofimpaifllK1ll overpcs assetsand its ability 10 repay liabilities foUowingwhiclt fun Unpattnrent was made in respect ofproject related assets sucb as the plant and eqwpment and oortainreceivables whilst waivers wereobwned in respect of the aUlltnlDts mvingu related and holding compatiies in the f~jal eaf ended 11 Decimlber 2007

lPC was aequired by the company at a cost ofUSSH1DOOOOO ~utvalent toSs14563300 with lbeintention to resuIDe its deveiopmeat activities Theprojed consists ofthe construction of an 8O()mepwatt power plant tbatis ~ed to commence in the last quarter f20W During the financialyearadditional fimdg Wlre been injected by lhe company towardS oorntnuity in fPCs development activities and the cost of in~ in IPC as at the date of the statemcm of fimmcialpositkmammmted to SSfn~07116i The identifiable ass~$ and liabilities of IPC acquiredand assumed respectively duringlhe yearwa-e measured at their costs at acquisition date instead ofat their fair values because the fair values Me not reliably measurable at that ttne as the business tIlOde1 is constantly evolving attms stage and deciNions on negotiation ofrontmcts naYe not been ooncruded lIthe date of thlsrepm1 Accordingly the ru-recors are of the opinion that determining the fair 1l1ues and assessing the impairment of the investment in the subsidiary companies and project develop1lleflt costs will be more ~gfulwbet the development afibe projeaattainsbUOstmtial progress The directors win continually monitor Iheprogress of 1he projeCt and cany out ~ LISessmems as and vben neCessary

The financial statements oftbe company in tbe prevltlUS financial were prepared fer th~ period from the date of the companys incorporation on to February 2009 to 31 Marlt11 21)fJ9 Acoordin~ty the wmpamtive amounts fMilie statement ofcomprebensive statement of c~ in equity statement ofcash flows and reiated notes are not comparable

fhere are no oomparntive figures in respect of the timmcial statements of the group a the subsidiary companies were BtCquired dlltingthe financial year

21 Autborinlion of financial statements

The fllllllcial statemcots were aulhorised fN issue in accordance with a itS()IUholl of the directors on 12 May 2OJO

40

INDEPEtllDE~J AtJDJTORSREIORT to fhe members of GMR INFRASTRUCTURE (SINGAPORE) PTE LIMITED con1mued

Basislor Quaiqiet1 Opinion

Included in the projttt d~pmalt costs of lhegroup is an unreaUsed fOIcign exchange Io$s ari~ing from the ~on of a foreigneurrency deoomimtted loan tomiddota related company amounting to SSl233OOft The ma~emem i5 of the opinion that tbisloss is notional in nature andiSretmed to a project undertaken hy a mbsidillfY oompanyand~cethecapitdisatiooofthe amount The management has represented that the funamp were reccived and adMlOOdmiddotm the related COttJpany in United States dollars (USS) The funds wUlte retaintdand settled by therclated eompany inUM and would bealed by the subsidiary company to meet certain capital expenditure in US$ Hence the funds may not be collverted to Singapore dollars and the loss on trtmslation may aCtuallymiddotnever be realised

Also induded in the project dcvelopri1ellt cOsts is interest income 00 the aoovc loan to the related Ctlmpany nmounting to SS698366

We are unable to assess tbe appropriateness of the basis ofcapilalising ibe foreign etclw1geloss and interest income If the loss and interest i1lOOll1e bad been recognised in tbcgroups staterntlt of oomprci1ensive income the projed d~ costs and the net profit ood shamboldenfimds of the group would have tkcreased by 8S534634

Managenenthas infonnoo tiS that the identifiable assets and liabilities ofa subsidiary company acquired and assumed respcthCly during the year WeIe ~ $ Oleir eosts at mquisitiondate instead of at their fair values as required by Singaporerinancjal ReportmgSt1UKhmi 103 -- Business Combinations because the pound111 alu~ are not reliably ~sumble at that date Accordingly we are unable to assess the approprimmess oftnecmyingatue ofme goodwill amOunting to 8514551575 as at 31 March lOW

As further described in Il(ie 19 to the financial stalemen~ a subsidiary company is aurently in the P~$ ofdeveloping a power plant far the genemtion and supply ofelectricity The business model is coostantly evolving at this stage anddecisions on negotiation ofamtracts have not been concluded at the date otlliis report The validity ofthe going concmlassumption aCthe subsidiary oonlpanyand the group is based on the omrome ofruture evenbL AmongSt oilier matter$ the middotyaHdity ofthe going ooncern asslnnptlQll depends on the avaiiabUityof fwldmg Qr financial SUppQrt for the subsidiaty companys project the ahility of the ifOUP and subsidiary company to successfully negotiate ~ and $QWC

licerucs pertinent to their OperntioDS afld their Cmtnal ability to acltieveprofiUtble re$Ulls and positive cash flows

5















TotalMwts


tOfal Liabilides


Note

3 4 5 6 7

7 is

GROUP 2010 S$

182689 28328961 14551575

43181225

42U4608 302415


72151

81011161

18000 81378450

iamp4WJOO 62715 143618 210181

middot1993SUI

10141amp

707418

(152411)

69~148900

14038515 (27$1)S)

tOO

362411

82908617

69148900 14038515

(278738)


1



GROUP OllfWlM9

to

3lf031201t SS

Revelle

u 1197672


12 (1 195t61 )

(5219800)




to 10

llf03110l0 3tJ0lJ2l)Q9 55 55

fl86UI) (4132)

(30216l)

(55638)

362531





GROUP

At 1 April 2009 10 69t48900 (361531) 68786369



At 11 1arch 2010 69148900 14038515 tP8138) g2~11


10

100

100

69148800

14033Sl5

(362531)

(362511)

100

~362S31)

(362A1I)

69148)00

14038515

53793 83193

Atl March2tUO W148900 140~8515 82908617

















GR01JP 1)110411009

to 311Q32UlO

SS

38618

1124H

(3943L238)

(249156) (211nS96H

15 045565UI)

(43134li15)

(148144) (381004)

69148800 1403S515

32l~5U61

0111)41009 to

31032010 50S

837~J

(l8~5 IS 284961

05204) (lJ91~1 J)

U4~5633Q2J

(66514459)

un321i917)

lOIOlllOOl)

too 31032009

SS

4132

(35S399)

(62715) 118330

1 156tS

(242184)

(762amp1)

nni81 14361pound

148144 381004

210OSt 100

210181











II



























14












15










16








17








18


210 lmpairment






19









20





(i) finandal aum





214 Leases







216 Shan capital



22







23








220 lueome tax



24









__~$t214__ 561(17





Nllt fkH~k Villoc


77S73 _ 5middotL- 11~~1(


26



-~-------~-~--~-----------------


~QMI~~Y

C(llij



At 3J Murch 2010



At J 1MmCh 2001

Alli Mlmh 20u)

Net Book Value

At1 Mamh20JO

At 31 Mllrnlt 2Oil9

Cm1lIUltfI

lq1tipm-n sS

1631S

91t~

867

13956

7$73

15448

Office Iltulpmctlt

SS

58368

32)8

3238

I d ~291J I

J~iS7

55llil


SS

lliOO

58301

Z1

2 3M I mill ~ Illn

__~~1~L___ 1573


SS

----~~=--~lt

11721

11235

-----~~- shy

3319

l319 I I t t=t

I

fotal is

7()~$l _____

76823 __22J~__

325439

4112

4132 JR618shy

4215fi

282689

7231

27



GROUP 2010 55

2amp328961

GROUP 1010

SS

1231000

GROUP 1010 SS

14551575



28




81071761





ltd


dwiDg the year

29


NolI~ pgrtioo

Stafftoan


GROtJP 2010

SS

18000

698366 98980 27~262

4I985OOO

42814608

42832608


GROUP 10lO

SS


42683366 149242

42832608


18QQO

98230

5000

1146670

1amp49900

Lamp67900

COlIPA~Y

2fil0 2009 S5 SS

1861900


detnand


30




GROUP 2010

SS

45amp25 256plO

3ra415

CROUP lOll S8

352417

242766

2794448

3389631

CO~IPAlY

2016 lOO9 S5 SS

45amp25 152061 91793 58120

210181


144022 76503

242766 3129 148144 38UlO4

463291 701478


SS6J35

GROUP 010

SS



31



10 Share capital

31MaKb 2810

No ofShares

3] Mar~b 2009

No ofshares

31 Marth 2010 SS

31 ~iareb 2009 SS


)efirfperiod


100

69148800

100 100

69148800

Wi)




GROLIP OlO4llOO9

to 31J93t2010

55


to 3110312010

SS

to 3l9JI1W9

SS


1183469 14203

1lS3A69

7191612

14203

32


12 Staff eosts



GROUP OIJ04lZ009

to 31J031l010

SS

1142662 i 1822

581908 25260 33809



s~ SS

1142662 95121 1tSl2 946

5iH90S 1273 25260 185 33S09 205236

119S~46 1795461 30b161






SS SS 55

(844) (84496)



14 Taxation




SS SS S$


(362531)


(16719) 814


Current taxation






GROlJI lil0 SS









S$ SS






35







to to to 31iD31l010 310311010 310ll2009

sSe ss SS





36












37












38





(145516) 245516

(3213) 3273






39










40















TotalMwts


tOfal Liabilides


Note

3 4 5 6 7

7 is

GROUP 2010 S$

182689 28328961 14551575

43181225

42U4608 302415


72151

81011161

18000 81378450

iamp4WJOO 62715 143618 210181

middot1993SUI

10141amp

707418

(152411)

69~148900

14038515 (27$1)S)

tOO

362411

82908617

69148900 14038515

(278738)


1



GROUP OllfWlM9

to

3lf031201t SS

Revelle

u 1197672


12 (1 195t61 )

(5219800)




to 10

llf03110l0 3tJ0lJ2l)Q9 55 55

fl86UI) (4132)

(30216l)

(55638)

362531





GROUP

At 1 April 2009 10 69t48900 (361531) 68786369



At 11 1arch 2010 69148900 14038515 tP8138) g2~11


10

100

100

69148800

14033Sl5

(362531)

(362511)

100

~362S31)

(362A1I)

69148)00

14038515

53793 83193

Atl March2tUO W148900 140~8515 82908617

















GR01JP 1)110411009

to 311Q32UlO

SS

38618

1124H

(3943L238)

(249156) (211nS96H

15 045565UI)

(43134li15)

(148144) (381004)

69148800 1403S515

32l~5U61

0111)41009 to

31032010 50S

837~J

(l8~5 IS 284961

05204) (lJ91~1 J)

U4~5633Q2J

(66514459)

un321i917)

lOIOlllOOl)

too 31032009

SS

4132

(35S399)

(62715) 118330

1 156tS

(242184)

(762amp1)

nni81 14361pound

148144 381004

210OSt 100

210181











II



























14












15










16








17








18


210 lmpairment






19









20





(i) finandal aum





214 Leases







216 Shan capital



22







23








220 lueome tax



24









__~$t214__ 561(17





Nllt fkH~k Villoc


77S73 _ 5middotL- 11~~1(


26



-~-------~-~--~-----------------


~QMI~~Y

C(llij



At 3J Murch 2010



At J 1MmCh 2001

Alli Mlmh 20u)

Net Book Value

At1 Mamh20JO

At 31 Mllrnlt 2Oil9

Cm1lIUltfI

lq1tipm-n sS

1631S

91t~

867

13956

7$73

15448

Office Iltulpmctlt

SS

58368

32)8

3238

I d ~291J I

J~iS7

55llil


SS

lliOO

58301

Z1

2 3M I mill ~ Illn

__~~1~L___ 1573


SS

----~~=--~lt

11721

11235

-----~~- shy

3319

l319 I I t t=t

I

fotal is

7()~$l _____

76823 __22J~__

325439

4112

4132 JR618shy

4215fi

282689

7231

27



GROUP 2010 55

2amp328961

GROUP 1010

SS

1231000

GROUP 1010 SS

14551575



28




81071761





ltd


dwiDg the year

29


NolI~ pgrtioo

Stafftoan


GROtJP 2010

SS

18000

698366 98980 27~262

4I985OOO

42814608

42832608


GROUP 10lO

SS


42683366 149242

42832608


18QQO

98230

5000

1146670

1amp49900

Lamp67900

COlIPA~Y

2fil0 2009 S5 SS

1861900


detnand


30




GROUP 2010

SS

45amp25 256plO

3ra415

CROUP lOll S8

352417

242766

2794448

3389631

CO~IPAlY

2016 lOO9 S5 SS

45amp25 152061 91793 58120

210181


144022 76503

242766 3129 148144 38UlO4

463291 701478


SS6J35

GROUP 010

SS



31



10 Share capital

31MaKb 2810

No ofShares

3] Mar~b 2009

No ofshares

31 Marth 2010 SS

31 ~iareb 2009 SS


)efirfperiod


100

69148800

100 100

69148800

Wi)




GROLIP OlO4llOO9

to 31J93t2010

55


to 3110312010

SS

to 3l9JI1W9

SS


1183469 14203

1lS3A69

7191612

14203

32


12 Staff eosts



GROUP OIJ04lZ009

to 31J031l010

SS

1142662 i 1822

581908 25260 33809



s~ SS

1142662 95121 1tSl2 946

5iH90S 1273 25260 185 33S09 205236

119S~46 1795461 30b161






SS SS 55

(844) (84496)



14 Taxation




SS SS S$


(362531)


(16719) 814


Current taxation






GROlJI lil0 SS









S$ SS






35







to to to 31iD31l010 310311010 310ll2009

sSe ss SS





36












37












38





(145516) 245516

(3213) 3273






39










40



GROUP OllfWlM9

to

3lf031201t SS

Revelle

u 1197672


12 (1 195t61 )

(5219800)




to 10

llf03110l0 3tJ0lJ2l)Q9 55 55

fl86UI) (4132)

(30216l)

(55638)

362531





GROUP

At 1 April 2009 10 69t48900 (361531) 68786369



At 11 1arch 2010 69148900 14038515 tP8138) g2~11


10

100

100

69148800

14033Sl5

(362531)

(362511)

100

~362S31)

(362A1I)

69148)00

14038515

53793 83193

Atl March2tUO W148900 140~8515 82908617

















GR01JP 1)110411009

to 311Q32UlO

SS

38618

1124H

(3943L238)

(249156) (211nS96H

15 045565UI)

(43134li15)

(148144) (381004)

69148800 1403S515

32l~5U61

0111)41009 to

31032010 50S

837~J

(l8~5 IS 284961

05204) (lJ91~1 J)

U4~5633Q2J

(66514459)

un321i917)

lOIOlllOOl)

too 31032009

SS

4132

(35S399)

(62715) 118330

1 156tS

(242184)

(762amp1)

nni81 14361pound

148144 381004

210OSt 100

210181











II



























14












15










16








17








18


210 lmpairment






19









20





(i) finandal aum





214 Leases







216 Shan capital



22







23








220 lueome tax



24









__~$t214__ 561(17





Nllt fkH~k Villoc


77S73 _ 5middotL- 11~~1(


26



-~-------~-~--~-----------------


~QMI~~Y

C(llij



At 3J Murch 2010



At J 1MmCh 2001

Alli Mlmh 20u)

Net Book Value

At1 Mamh20JO

At 31 Mllrnlt 2Oil9

Cm1lIUltfI

lq1tipm-n sS

1631S

91t~

867

13956

7$73

15448

Office Iltulpmctlt

SS

58368

32)8

3238

I d ~291J I

J~iS7

55llil


SS

lliOO

58301

Z1

2 3M I mill ~ Illn

__~~1~L___ 1573


SS

----~~=--~lt

11721

11235

-----~~- shy

3319

l319 I I t t=t

I

fotal is

7()~$l _____

76823 __22J~__

325439

4112

4132 JR618shy

4215fi

282689

7231

27



GROUP 2010 55

2amp328961

GROUP 1010

SS

1231000

GROUP 1010 SS

14551575



28




81071761





ltd


dwiDg the year

29


NolI~ pgrtioo

Stafftoan


GROtJP 2010

SS

18000

698366 98980 27~262

4I985OOO

42814608

42832608


GROUP 10lO

SS


42683366 149242

42832608


18QQO

98230

5000

1146670

1amp49900

Lamp67900

COlIPA~Y

2fil0 2009 S5 SS

1861900


detnand


30




GROUP 2010

SS

45amp25 256plO

3ra415

CROUP lOll S8

352417

242766

2794448

3389631

CO~IPAlY

2016 lOO9 S5 SS

45amp25 152061 91793 58120

210181


144022 76503

242766 3129 148144 38UlO4

463291 701478


SS6J35

GROUP 010

SS



31



10 Share capital

31MaKb 2810

No ofShares

3] Mar~b 2009

No ofshares

31 Marth 2010 SS

31 ~iareb 2009 SS


)efirfperiod


100

69148800

100 100

69148800

Wi)




GROLIP OlO4llOO9

to 31J93t2010

55


to 3110312010

SS

to 3l9JI1W9

SS


1183469 14203

1lS3A69

7191612

14203

32


12 Staff eosts



GROUP OIJ04lZ009

to 31J031l010

SS

1142662 i 1822

581908 25260 33809



s~ SS

1142662 95121 1tSl2 946

5iH90S 1273 25260 185 33S09 205236

119S~46 1795461 30b161






SS SS 55

(844) (84496)



14 Taxation




SS SS S$


(362531)


(16719) 814


Current taxation






GROlJI lil0 SS









S$ SS






35







to to to 31iD31l010 310311010 310ll2009

sSe ss SS





36












37












38





(145516) 245516

(3213) 3273






39










40





GROUP

At 1 April 2009 10 69t48900 (361531) 68786369



At 11 1arch 2010 69148900 14038515 tP8138) g2~11


10

100

100

69148800

14033Sl5

(362531)

(362511)

100

~362S31)

(362A1I)

69148)00

14038515

53793 83193

Atl March2tUO W148900 140~8515 82908617

















GR01JP 1)110411009

to 311Q32UlO

SS

38618

1124H

(3943L238)

(249156) (211nS96H

15 045565UI)

(43134li15)

(148144) (381004)

69148800 1403S515

32l~5U61

0111)41009 to

31032010 50S

837~J

(l8~5 IS 284961

05204) (lJ91~1 J)

U4~5633Q2J

(66514459)

un321i917)

lOIOlllOOl)

too 31032009

SS

4132

(35S399)

(62715) 118330

1 156tS

(242184)

(762amp1)

nni81 14361pound

148144 381004

210OSt 100

210181











II



























14












15










16








17








18


210 lmpairment






19









20





(i) finandal aum





214 Leases







216 Shan capital



22







23








220 lueome tax



24









__~$t214__ 561(17





Nllt fkH~k Villoc


77S73 _ 5middotL- 11~~1(


26



-~-------~-~--~-----------------


~QMI~~Y

C(llij



At 3J Murch 2010



At J 1MmCh 2001

Alli Mlmh 20u)

Net Book Value

At1 Mamh20JO

At 31 Mllrnlt 2Oil9

Cm1lIUltfI

lq1tipm-n sS

1631S

91t~

867

13956

7$73

15448

Office Iltulpmctlt

SS

58368

32)8

3238

I d ~291J I

J~iS7

55llil


SS

lliOO

58301

Z1

2 3M I mill ~ Illn

__~~1~L___ 1573


SS

----~~=--~lt

11721

11235

-----~~- shy

3319

l319 I I t t=t

I

fotal is

7()~$l _____

76823 __22J~__

325439

4112

4132 JR618shy

4215fi

282689

7231

27



GROUP 2010 55

2amp328961

GROUP 1010

SS

1231000

GROUP 1010 SS

14551575



28




81071761





ltd


dwiDg the year

29


NolI~ pgrtioo

Stafftoan


GROtJP 2010

SS

18000

698366 98980 27~262

4I985OOO

42814608

42832608


GROUP 10lO

SS


42683366 149242

42832608


18QQO

98230

5000

1146670

1amp49900

Lamp67900

COlIPA~Y

2fil0 2009 S5 SS

1861900


detnand


30




GROUP 2010

SS

45amp25 256plO

3ra415

CROUP lOll S8

352417

242766

2794448

3389631

CO~IPAlY

2016 lOO9 S5 SS

45amp25 152061 91793 58120

210181


144022 76503

242766 3129 148144 38UlO4

463291 701478


SS6J35

GROUP 010

SS



31



10 Share capital

31MaKb 2810

No ofShares

3] Mar~b 2009

No ofshares

31 Marth 2010 SS

31 ~iareb 2009 SS


)efirfperiod


100

69148800

100 100

69148800

Wi)




GROLIP OlO4llOO9

to 31J93t2010

55


to 3110312010

SS

to 3l9JI1W9

SS


1183469 14203

1lS3A69

7191612

14203

32


12 Staff eosts



GROUP OIJ04lZ009

to 31J031l010

SS

1142662 i 1822

581908 25260 33809



s~ SS

1142662 95121 1tSl2 946

5iH90S 1273 25260 185 33S09 205236

119S~46 1795461 30b161






SS SS 55

(844) (84496)



14 Taxation




SS SS S$


(362531)


(16719) 814


Current taxation






GROlJI lil0 SS









S$ SS






35







to to to 31iD31l010 310311010 310ll2009

sSe ss SS





36












37












38





(145516) 245516

(3213) 3273






39










40
















GR01JP 1)110411009

to 311Q32UlO

SS

38618

1124H

(3943L238)

(249156) (211nS96H

15 045565UI)

(43134li15)

(148144) (381004)

69148800 1403S515

32l~5U61

0111)41009 to

31032010 50S

837~J

(l8~5 IS 284961

05204) (lJ91~1 J)

U4~5633Q2J

(66514459)

un321i917)

lOIOlllOOl)

too 31032009

SS

4132

(35S399)

(62715) 118330

1 156tS

(242184)

(762amp1)

nni81 14361pound

148144 381004

210OSt 100

210181











II



























14












15










16








17








18


210 lmpairment






19









20





(i) finandal aum





214 Leases







216 Shan capital



22







23








220 lueome tax



24









__~$t214__ 561(17





Nllt fkH~k Villoc


77S73 _ 5middotL- 11~~1(


26



-~-------~-~--~-----------------


~QMI~~Y

C(llij



At 3J Murch 2010



At J 1MmCh 2001

Alli Mlmh 20u)

Net Book Value

At1 Mamh20JO

At 31 Mllrnlt 2Oil9

Cm1lIUltfI

lq1tipm-n sS

1631S

91t~

867

13956

7$73

15448

Office Iltulpmctlt

SS

58368

32)8

3238

I d ~291J I

J~iS7

55llil


SS

lliOO

58301

Z1

2 3M I mill ~ Illn

__~~1~L___ 1573


SS

----~~=--~lt

11721

11235

-----~~- shy

3319

l319 I I t t=t

I

fotal is

7()~$l _____

76823 __22J~__

325439

4112

4132 JR618shy

4215fi

282689

7231

27



GROUP 2010 55

2amp328961

GROUP 1010

SS

1231000

GROUP 1010 SS

14551575



28




81071761





ltd


dwiDg the year

29


NolI~ pgrtioo

Stafftoan


GROtJP 2010

SS

18000

698366 98980 27~262

4I985OOO

42814608

42832608


GROUP 10lO

SS


42683366 149242

42832608


18QQO

98230

5000

1146670

1amp49900

Lamp67900

COlIPA~Y

2fil0 2009 S5 SS

1861900


detnand


30




GROUP 2010

SS

45amp25 256plO

3ra415

CROUP lOll S8

352417

242766

2794448

3389631

CO~IPAlY

2016 lOO9 S5 SS

45amp25 152061 91793 58120

210181


144022 76503

242766 3129 148144 38UlO4

463291 701478


SS6J35

GROUP 010

SS



31



10 Share capital

31MaKb 2810

No ofShares

3] Mar~b 2009

No ofshares

31 Marth 2010 SS

31 ~iareb 2009 SS


)efirfperiod


100

69148800

100 100

69148800

Wi)




GROLIP OlO4llOO9

to 31J93t2010

55


to 3110312010

SS

to 3l9JI1W9

SS


1183469 14203

1lS3A69

7191612

14203

32


12 Staff eosts



GROUP OIJ04lZ009

to 31J031l010

SS

1142662 i 1822

581908 25260 33809



s~ SS

1142662 95121 1tSl2 946

5iH90S 1273 25260 185 33S09 205236

119S~46 1795461 30b161






SS SS 55

(844) (84496)



14 Taxation




SS SS S$


(362531)


(16719) 814


Current taxation






GROlJI lil0 SS









S$ SS






35







to to to 31iD31l010 310311010 310ll2009

sSe ss SS





36












37












38





(145516) 245516

(3213) 3273






39










40











II



























14












15










16








17








18


210 lmpairment






19









20





(i) finandal aum





214 Leases







216 Shan capital



22







23








220 lueome tax



24









__~$t214__ 561(17





Nllt fkH~k Villoc


77S73 _ 5middotL- 11~~1(


26



-~-------~-~--~-----------------


~QMI~~Y

C(llij



At 3J Murch 2010



At J 1MmCh 2001

Alli Mlmh 20u)

Net Book Value

At1 Mamh20JO

At 31 Mllrnlt 2Oil9

Cm1lIUltfI

lq1tipm-n sS

1631S

91t~

867

13956

7$73

15448

Office Iltulpmctlt

SS

58368

32)8

3238

I d ~291J I

J~iS7

55llil


SS

lliOO

58301

Z1

2 3M I mill ~ Illn

__~~1~L___ 1573


SS

----~~=--~lt

11721

11235

-----~~- shy

3319

l319 I I t t=t

I

fotal is

7()~$l _____

76823 __22J~__

325439

4112

4132 JR618shy

4215fi

282689

7231

27



GROUP 2010 55

2amp328961

GROUP 1010

SS

1231000

GROUP 1010 SS

14551575



28




81071761





ltd


dwiDg the year

29


NolI~ pgrtioo

Stafftoan


GROtJP 2010

SS

18000

698366 98980 27~262

4I985OOO

42814608

42832608


GROUP 10lO

SS


42683366 149242

42832608


18QQO

98230

5000

1146670

1amp49900

Lamp67900

COlIPA~Y

2fil0 2009 S5 SS

1861900


detnand


30




GROUP 2010

SS

45amp25 256plO

3ra415

CROUP lOll S8

352417

242766

2794448

3389631

CO~IPAlY

2016 lOO9 S5 SS

45amp25 152061 91793 58120

210181


144022 76503

242766 3129 148144 38UlO4

463291 701478


SS6J35

GROUP 010

SS



31



10 Share capital

31MaKb 2810

No ofShares

3] Mar~b 2009

No ofshares

31 Marth 2010 SS

31 ~iareb 2009 SS


)efirfperiod


100

69148800

100 100

69148800

Wi)




GROLIP OlO4llOO9

to 31J93t2010

55


to 3110312010

SS

to 3l9JI1W9

SS


1183469 14203

1lS3A69

7191612

14203

32


12 Staff eosts



GROUP OIJ04lZ009

to 31J031l010

SS

1142662 i 1822

581908 25260 33809



s~ SS

1142662 95121 1tSl2 946

5iH90S 1273 25260 185 33S09 205236

119S~46 1795461 30b161






SS SS 55

(844) (84496)



14 Taxation




SS SS S$


(362531)


(16719) 814


Current taxation






GROlJI lil0 SS









S$ SS






35







to to to 31iD31l010 310311010 310ll2009

sSe ss SS





36












37












38





(145516) 245516

(3213) 3273






39










40



























14












15










16








17








18


210 lmpairment






19









20





(i) finandal aum





214 Leases







216 Shan capital



22







23








220 lueome tax



24









__~$t214__ 561(17





Nllt fkH~k Villoc


77S73 _ 5middotL- 11~~1(


26



-~-------~-~--~-----------------


~QMI~~Y

C(llij



At 3J Murch 2010



At J 1MmCh 2001

Alli Mlmh 20u)

Net Book Value

At1 Mamh20JO

At 31 Mllrnlt 2Oil9

Cm1lIUltfI

lq1tipm-n sS

1631S

91t~

867

13956

7$73

15448

Office Iltulpmctlt

SS

58368

32)8

3238

I d ~291J I

J~iS7

55llil


SS

lliOO

58301

Z1

2 3M I mill ~ Illn

__~~1~L___ 1573


SS

----~~=--~lt

11721

11235

-----~~- shy

3319

l319 I I t t=t

I

fotal is

7()~$l _____

76823 __22J~__

325439

4112

4132 JR618shy

4215fi

282689

7231

27



GROUP 2010 55

2amp328961

GROUP 1010

SS

1231000

GROUP 1010 SS

14551575



28




81071761





ltd


dwiDg the year

29


NolI~ pgrtioo

Stafftoan


GROtJP 2010

SS

18000

698366 98980 27~262

4I985OOO

42814608

42832608


GROUP 10lO

SS


42683366 149242

42832608


18QQO

98230

5000

1146670

1amp49900

Lamp67900

COlIPA~Y

2fil0 2009 S5 SS

1861900


detnand


30




GROUP 2010

SS

45amp25 256plO

3ra415

CROUP lOll S8

352417

242766

2794448

3389631

CO~IPAlY

2016 lOO9 S5 SS

45amp25 152061 91793 58120

210181


144022 76503

242766 3129 148144 38UlO4

463291 701478


SS6J35

GROUP 010

SS



31



10 Share capital

31MaKb 2810

No ofShares

3] Mar~b 2009

No ofshares

31 Marth 2010 SS

31 ~iareb 2009 SS


)efirfperiod


100

69148800

100 100

69148800

Wi)




GROLIP OlO4llOO9

to 31J93t2010

55


to 3110312010

SS

to 3l9JI1W9

SS


1183469 14203

1lS3A69

7191612

14203

32


12 Staff eosts



GROUP OIJ04lZ009

to 31J031l010

SS

1142662 i 1822

581908 25260 33809



s~ SS

1142662 95121 1tSl2 946

5iH90S 1273 25260 185 33S09 205236

119S~46 1795461 30b161






SS SS 55

(844) (84496)



14 Taxation




SS SS S$


(362531)


(16719) 814


Current taxation






GROlJI lil0 SS









S$ SS






35







to to to 31iD31l010 310311010 310ll2009

sSe ss SS





36












37












38





(145516) 245516

(3213) 3273






39










40












15










16








17








18


210 lmpairment






19









20





(i) finandal aum





214 Leases







216 Shan capital



22







23








220 lueome tax



24









__~$t214__ 561(17





Nllt fkH~k Villoc


77S73 _ 5middotL- 11~~1(


26



-~-------~-~--~-----------------


~QMI~~Y

C(llij



At 3J Murch 2010



At J 1MmCh 2001

Alli Mlmh 20u)

Net Book Value

At1 Mamh20JO

At 31 Mllrnlt 2Oil9

Cm1lIUltfI

lq1tipm-n sS

1631S

91t~

867

13956

7$73

15448

Office Iltulpmctlt

SS

58368

32)8

3238

I d ~291J I

J~iS7

55llil


SS

lliOO

58301

Z1

2 3M I mill ~ Illn

__~~1~L___ 1573


SS

----~~=--~lt

11721

11235

-----~~- shy

3319

l319 I I t t=t

I

fotal is

7()~$l _____

76823 __22J~__

325439

4112

4132 JR618shy

4215fi

282689

7231

27



GROUP 2010 55

2amp328961

GROUP 1010

SS

1231000

GROUP 1010 SS

14551575



28




81071761





ltd


dwiDg the year

29


NolI~ pgrtioo

Stafftoan


GROtJP 2010

SS

18000

698366 98980 27~262

4I985OOO

42814608

42832608


GROUP 10lO

SS


42683366 149242

42832608


18QQO

98230

5000

1146670

1amp49900

Lamp67900

COlIPA~Y

2fil0 2009 S5 SS

1861900


detnand


30




GROUP 2010

SS

45amp25 256plO

3ra415

CROUP lOll S8

352417

242766

2794448

3389631

CO~IPAlY

2016 lOO9 S5 SS

45amp25 152061 91793 58120

210181


144022 76503

242766 3129 148144 38UlO4

463291 701478


SS6J35

GROUP 010

SS



31



10 Share capital

31MaKb 2810

No ofShares

3] Mar~b 2009

No ofshares

31 Marth 2010 SS

31 ~iareb 2009 SS


)efirfperiod


100

69148800

100 100

69148800

Wi)




GROLIP OlO4llOO9

to 31J93t2010

55


to 3110312010

SS

to 3l9JI1W9

SS


1183469 14203

1lS3A69

7191612

14203

32


12 Staff eosts



GROUP OIJ04lZ009

to 31J031l010

SS

1142662 i 1822

581908 25260 33809



s~ SS

1142662 95121 1tSl2 946

5iH90S 1273 25260 185 33S09 205236

119S~46 1795461 30b161






SS SS 55

(844) (84496)



14 Taxation




SS SS S$


(362531)


(16719) 814


Current taxation






GROlJI lil0 SS









S$ SS






35







to to to 31iD31l010 310311010 310ll2009

sSe ss SS





36












37












38





(145516) 245516

(3213) 3273






39










40










16








17








18


210 lmpairment






19









20





(i) finandal aum





214 Leases







216 Shan capital



22







23








220 lueome tax



24









__~$t214__ 561(17





Nllt fkH~k Villoc


77S73 _ 5middotL- 11~~1(


26



-~-------~-~--~-----------------


~QMI~~Y

C(llij



At 3J Murch 2010



At J 1MmCh 2001

Alli Mlmh 20u)

Net Book Value

At1 Mamh20JO

At 31 Mllrnlt 2Oil9

Cm1lIUltfI

lq1tipm-n sS

1631S

91t~

867

13956

7$73

15448

Office Iltulpmctlt

SS

58368

32)8

3238

I d ~291J I

J~iS7

55llil


SS

lliOO

58301

Z1

2 3M I mill ~ Illn

__~~1~L___ 1573


SS

----~~=--~lt

11721

11235

-----~~- shy

3319

l319 I I t t=t

I

fotal is

7()~$l _____

76823 __22J~__

325439

4112

4132 JR618shy

4215fi

282689

7231

27



GROUP 2010 55

2amp328961

GROUP 1010

SS

1231000

GROUP 1010 SS

14551575



28




81071761





ltd


dwiDg the year

29


NolI~ pgrtioo

Stafftoan


GROtJP 2010

SS

18000

698366 98980 27~262

4I985OOO

42814608

42832608


GROUP 10lO

SS


42683366 149242

42832608


18QQO

98230

5000

1146670

1amp49900

Lamp67900

COlIPA~Y

2fil0 2009 S5 SS

1861900


detnand


30




GROUP 2010

SS

45amp25 256plO

3ra415

CROUP lOll S8

352417

242766

2794448

3389631

CO~IPAlY

2016 lOO9 S5 SS

45amp25 152061 91793 58120

210181


144022 76503

242766 3129 148144 38UlO4

463291 701478


SS6J35

GROUP 010

SS



31



10 Share capital

31MaKb 2810

No ofShares

3] Mar~b 2009

No ofshares

31 Marth 2010 SS

31 ~iareb 2009 SS


)efirfperiod


100

69148800

100 100

69148800

Wi)




GROLIP OlO4llOO9

to 31J93t2010

55


to 3110312010

SS

to 3l9JI1W9

SS


1183469 14203

1lS3A69

7191612

14203

32


12 Staff eosts



GROUP OIJ04lZ009

to 31J031l010

SS

1142662 i 1822

581908 25260 33809



s~ SS

1142662 95121 1tSl2 946

5iH90S 1273 25260 185 33S09 205236

119S~46 1795461 30b161






SS SS 55

(844) (84496)



14 Taxation




SS SS S$


(362531)


(16719) 814


Current taxation






GROlJI lil0 SS









S$ SS






35







to to to 31iD31l010 310311010 310ll2009

sSe ss SS





36












37












38





(145516) 245516

(3213) 3273






39










40








17








18


210 lmpairment






19









20





(i) finandal aum





214 Leases







216 Shan capital



22







23








220 lueome tax



24









__~$t214__ 561(17





Nllt fkH~k Villoc


77S73 _ 5middotL- 11~~1(


26



-~-------~-~--~-----------------


~QMI~~Y

C(llij



At 3J Murch 2010



At J 1MmCh 2001

Alli Mlmh 20u)

Net Book Value

At1 Mamh20JO

At 31 Mllrnlt 2Oil9

Cm1lIUltfI

lq1tipm-n sS

1631S

91t~

867

13956

7$73

15448

Office Iltulpmctlt

SS

58368

32)8

3238

I d ~291J I

J~iS7

55llil


SS

lliOO

58301

Z1

2 3M I mill ~ Illn

__~~1~L___ 1573


SS

----~~=--~lt

11721

11235

-----~~- shy

3319

l319 I I t t=t

I

fotal is

7()~$l _____

76823 __22J~__

325439

4112

4132 JR618shy

4215fi

282689

7231

27



GROUP 2010 55

2amp328961

GROUP 1010

SS

1231000

GROUP 1010 SS

14551575



28




81071761





ltd


dwiDg the year

29


NolI~ pgrtioo

Stafftoan


GROtJP 2010

SS

18000

698366 98980 27~262

4I985OOO

42814608

42832608


GROUP 10lO

SS


42683366 149242

42832608


18QQO

98230

5000

1146670

1amp49900

Lamp67900

COlIPA~Y

2fil0 2009 S5 SS

1861900


detnand


30




GROUP 2010

SS

45amp25 256plO

3ra415

CROUP lOll S8

352417

242766

2794448

3389631

CO~IPAlY

2016 lOO9 S5 SS

45amp25 152061 91793 58120

210181


144022 76503

242766 3129 148144 38UlO4

463291 701478


SS6J35

GROUP 010

SS



31



10 Share capital

31MaKb 2810

No ofShares

3] Mar~b 2009

No ofshares

31 Marth 2010 SS

31 ~iareb 2009 SS


)efirfperiod


100

69148800

100 100

69148800

Wi)




GROLIP OlO4llOO9

to 31J93t2010

55


to 3110312010

SS

to 3l9JI1W9

SS


1183469 14203

1lS3A69

7191612

14203

32


12 Staff eosts



GROUP OIJ04lZ009

to 31J031l010

SS

1142662 i 1822

581908 25260 33809



s~ SS

1142662 95121 1tSl2 946

5iH90S 1273 25260 185 33S09 205236

119S~46 1795461 30b161






SS SS 55

(844) (84496)



14 Taxation




SS SS S$


(362531)


(16719) 814


Current taxation






GROlJI lil0 SS









S$ SS






35







to to to 31iD31l010 310311010 310ll2009

sSe ss SS





36












37












38





(145516) 245516

(3213) 3273






39










40








18


210 lmpairment






19









20





(i) finandal aum





214 Leases







216 Shan capital



22







23








220 lueome tax



24









__~$t214__ 561(17





Nllt fkH~k Villoc


77S73 _ 5middotL- 11~~1(


26



-~-------~-~--~-----------------


~QMI~~Y

C(llij



At 3J Murch 2010



At J 1MmCh 2001

Alli Mlmh 20u)

Net Book Value

At1 Mamh20JO

At 31 Mllrnlt 2Oil9

Cm1lIUltfI

lq1tipm-n sS

1631S

91t~

867

13956

7$73

15448

Office Iltulpmctlt

SS

58368

32)8

3238

I d ~291J I

J~iS7

55llil


SS

lliOO

58301

Z1

2 3M I mill ~ Illn

__~~1~L___ 1573


SS

----~~=--~lt

11721

11235

-----~~- shy

3319

l319 I I t t=t

I

fotal is

7()~$l _____

76823 __22J~__

325439

4112

4132 JR618shy

4215fi

282689

7231

27



GROUP 2010 55

2amp328961

GROUP 1010

SS

1231000

GROUP 1010 SS

14551575



28




81071761





ltd


dwiDg the year

29


NolI~ pgrtioo

Stafftoan


GROtJP 2010

SS

18000

698366 98980 27~262

4I985OOO

42814608

42832608


GROUP 10lO

SS


42683366 149242

42832608


18QQO

98230

5000

1146670

1amp49900

Lamp67900

COlIPA~Y

2fil0 2009 S5 SS

1861900


detnand


30




GROUP 2010

SS

45amp25 256plO

3ra415

CROUP lOll S8

352417

242766

2794448

3389631

CO~IPAlY

2016 lOO9 S5 SS

45amp25 152061 91793 58120

210181


144022 76503

242766 3129 148144 38UlO4

463291 701478


SS6J35

GROUP 010

SS



31



10 Share capital

31MaKb 2810

No ofShares

3] Mar~b 2009

No ofshares

31 Marth 2010 SS

31 ~iareb 2009 SS


)efirfperiod


100

69148800

100 100

69148800

Wi)




GROLIP OlO4llOO9

to 31J93t2010

55


to 3110312010

SS

to 3l9JI1W9

SS


1183469 14203

1lS3A69

7191612

14203

32


12 Staff eosts



GROUP OIJ04lZ009

to 31J031l010

SS

1142662 i 1822

581908 25260 33809



s~ SS

1142662 95121 1tSl2 946

5iH90S 1273 25260 185 33S09 205236

119S~46 1795461 30b161






SS SS 55

(844) (84496)



14 Taxation




SS SS S$


(362531)


(16719) 814


Current taxation






GROlJI lil0 SS









S$ SS






35







to to to 31iD31l010 310311010 310ll2009

sSe ss SS





36












37












38





(145516) 245516

(3213) 3273






39










40


210 lmpairment






19









20





(i) finandal aum





214 Leases







216 Shan capital



22







23








220 lueome tax



24









__~$t214__ 561(17





Nllt fkH~k Villoc


77S73 _ 5middotL- 11~~1(


26



-~-------~-~--~-----------------


~QMI~~Y

C(llij



At 3J Murch 2010



At J 1MmCh 2001

Alli Mlmh 20u)

Net Book Value

At1 Mamh20JO

At 31 Mllrnlt 2Oil9

Cm1lIUltfI

lq1tipm-n sS

1631S

91t~

867

13956

7$73

15448

Office Iltulpmctlt

SS

58368

32)8

3238

I d ~291J I

J~iS7

55llil


SS

lliOO

58301

Z1

2 3M I mill ~ Illn

__~~1~L___ 1573


SS

----~~=--~lt

11721

11235

-----~~- shy

3319

l319 I I t t=t

I

fotal is

7()~$l _____

76823 __22J~__

325439

4112

4132 JR618shy

4215fi

282689

7231

27



GROUP 2010 55

2amp328961

GROUP 1010

SS

1231000

GROUP 1010 SS

14551575



28




81071761





ltd


dwiDg the year

29


NolI~ pgrtioo

Stafftoan


GROtJP 2010

SS

18000

698366 98980 27~262

4I985OOO

42814608

42832608


GROUP 10lO

SS


42683366 149242

42832608


18QQO

98230

5000

1146670

1amp49900

Lamp67900

COlIPA~Y

2fil0 2009 S5 SS

1861900


detnand


30




GROUP 2010

SS

45amp25 256plO

3ra415

CROUP lOll S8

352417

242766

2794448

3389631

CO~IPAlY

2016 lOO9 S5 SS

45amp25 152061 91793 58120

210181


144022 76503

242766 3129 148144 38UlO4

463291 701478


SS6J35

GROUP 010

SS



31



10 Share capital

31MaKb 2810

No ofShares

3] Mar~b 2009

No ofshares

31 Marth 2010 SS

31 ~iareb 2009 SS


)efirfperiod


100

69148800

100 100

69148800

Wi)




GROLIP OlO4llOO9

to 31J93t2010

55


to 3110312010

SS

to 3l9JI1W9

SS


1183469 14203

1lS3A69

7191612

14203

32


12 Staff eosts



GROUP OIJ04lZ009

to 31J031l010

SS

1142662 i 1822

581908 25260 33809



s~ SS

1142662 95121 1tSl2 946

5iH90S 1273 25260 185 33S09 205236

119S~46 1795461 30b161






SS SS 55

(844) (84496)



14 Taxation




SS SS S$


(362531)


(16719) 814


Current taxation






GROlJI lil0 SS









S$ SS






35







to to to 31iD31l010 310311010 310ll2009

sSe ss SS





36












37












38





(145516) 245516

(3213) 3273






39










40









20





(i) finandal aum





214 Leases







216 Shan capital



22







23








220 lueome tax



24









__~$t214__ 561(17





Nllt fkH~k Villoc


77S73 _ 5middotL- 11~~1(


26



-~-------~-~--~-----------------


~QMI~~Y

C(llij



At 3J Murch 2010



At J 1MmCh 2001

Alli Mlmh 20u)

Net Book Value

At1 Mamh20JO

At 31 Mllrnlt 2Oil9

Cm1lIUltfI

lq1tipm-n sS

1631S

91t~

867

13956

7$73

15448

Office Iltulpmctlt

SS

58368

32)8

3238

I d ~291J I

J~iS7

55llil


SS

lliOO

58301

Z1

2 3M I mill ~ Illn

__~~1~L___ 1573


SS

----~~=--~lt

11721

11235

-----~~- shy

3319

l319 I I t t=t

I

fotal is

7()~$l _____

76823 __22J~__

325439

4112

4132 JR618shy

4215fi

282689

7231

27



GROUP 2010 55

2amp328961

GROUP 1010

SS

1231000

GROUP 1010 SS

14551575



28




81071761





ltd


dwiDg the year

29


NolI~ pgrtioo

Stafftoan


GROtJP 2010

SS

18000

698366 98980 27~262

4I985OOO

42814608

42832608


GROUP 10lO

SS


42683366 149242

42832608


18QQO

98230

5000

1146670

1amp49900

Lamp67900

COlIPA~Y

2fil0 2009 S5 SS

1861900


detnand


30




GROUP 2010

SS

45amp25 256plO

3ra415

CROUP lOll S8

352417

242766

2794448

3389631

CO~IPAlY

2016 lOO9 S5 SS

45amp25 152061 91793 58120

210181


144022 76503

242766 3129 148144 38UlO4

463291 701478


SS6J35

GROUP 010

SS



31



10 Share capital

31MaKb 2810

No ofShares

3] Mar~b 2009

No ofshares

31 Marth 2010 SS

31 ~iareb 2009 SS


)efirfperiod


100

69148800

100 100

69148800

Wi)




GROLIP OlO4llOO9

to 31J93t2010

55


to 3110312010

SS

to 3l9JI1W9

SS


1183469 14203

1lS3A69

7191612

14203

32


12 Staff eosts



GROUP OIJ04lZ009

to 31J031l010

SS

1142662 i 1822

581908 25260 33809



s~ SS

1142662 95121 1tSl2 946

5iH90S 1273 25260 185 33S09 205236

119S~46 1795461 30b161






SS SS 55

(844) (84496)



14 Taxation




SS SS S$


(362531)


(16719) 814


Current taxation






GROlJI lil0 SS









S$ SS






35







to to to 31iD31l010 310311010 310ll2009

sSe ss SS





36












37












38





(145516) 245516

(3213) 3273






39










40





(i) finandal aum





214 Leases







216 Shan capital



22







23








220 lueome tax



24









__~$t214__ 561(17





Nllt fkH~k Villoc


77S73 _ 5middotL- 11~~1(


26



-~-------~-~--~-----------------


~QMI~~Y

C(llij



At 3J Murch 2010



At J 1MmCh 2001

Alli Mlmh 20u)

Net Book Value

At1 Mamh20JO

At 31 Mllrnlt 2Oil9

Cm1lIUltfI

lq1tipm-n sS

1631S

91t~

867

13956

7$73

15448

Office Iltulpmctlt

SS

58368

32)8

3238

I d ~291J I

J~iS7

55llil


SS

lliOO

58301

Z1

2 3M I mill ~ Illn

__~~1~L___ 1573


SS

----~~=--~lt

11721

11235

-----~~- shy

3319

l319 I I t t=t

I

fotal is

7()~$l _____

76823 __22J~__

325439

4112

4132 JR618shy

4215fi

282689

7231

27



GROUP 2010 55

2amp328961

GROUP 1010

SS

1231000

GROUP 1010 SS

14551575



28




81071761





ltd


dwiDg the year

29


NolI~ pgrtioo

Stafftoan


GROtJP 2010

SS

18000

698366 98980 27~262

4I985OOO

42814608

42832608


GROUP 10lO

SS


42683366 149242

42832608


18QQO

98230

5000

1146670

1amp49900

Lamp67900

COlIPA~Y

2fil0 2009 S5 SS

1861900


detnand


30




GROUP 2010

SS

45amp25 256plO

3ra415

CROUP lOll S8

352417

242766

2794448

3389631

CO~IPAlY

2016 lOO9 S5 SS

45amp25 152061 91793 58120

210181


144022 76503

242766 3129 148144 38UlO4

463291 701478


SS6J35

GROUP 010

SS



31



10 Share capital

31MaKb 2810

No ofShares

3] Mar~b 2009

No ofshares

31 Marth 2010 SS

31 ~iareb 2009 SS


)efirfperiod


100

69148800

100 100

69148800

Wi)




GROLIP OlO4llOO9

to 31J93t2010

55


to 3110312010

SS

to 3l9JI1W9

SS


1183469 14203

1lS3A69

7191612

14203

32


12 Staff eosts



GROUP OIJ04lZ009

to 31J031l010

SS

1142662 i 1822

581908 25260 33809



s~ SS

1142662 95121 1tSl2 946

5iH90S 1273 25260 185 33S09 205236

119S~46 1795461 30b161






SS SS 55

(844) (84496)



14 Taxation




SS SS S$


(362531)


(16719) 814


Current taxation






GROlJI lil0 SS









S$ SS






35







to to to 31iD31l010 310311010 310ll2009

sSe ss SS





36












37












38





(145516) 245516

(3213) 3273






39










40



214 Leases







216 Shan capital



22







23








220 lueome tax



24









__~$t214__ 561(17





Nllt fkH~k Villoc


77S73 _ 5middotL- 11~~1(


26



-~-------~-~--~-----------------


~QMI~~Y

C(llij



At 3J Murch 2010



At J 1MmCh 2001

Alli Mlmh 20u)

Net Book Value

At1 Mamh20JO

At 31 Mllrnlt 2Oil9

Cm1lIUltfI

lq1tipm-n sS

1631S

91t~

867

13956

7$73

15448

Office Iltulpmctlt

SS

58368

32)8

3238

I d ~291J I

J~iS7

55llil


SS

lliOO

58301

Z1

2 3M I mill ~ Illn

__~~1~L___ 1573


SS

----~~=--~lt

11721

11235

-----~~- shy

3319

l319 I I t t=t

I

fotal is

7()~$l _____

76823 __22J~__

325439

4112

4132 JR618shy

4215fi

282689

7231

27



GROUP 2010 55

2amp328961

GROUP 1010

SS

1231000

GROUP 1010 SS

14551575



28




81071761





ltd


dwiDg the year

29


NolI~ pgrtioo

Stafftoan


GROtJP 2010

SS

18000

698366 98980 27~262

4I985OOO

42814608

42832608


GROUP 10lO

SS


42683366 149242

42832608


18QQO

98230

5000

1146670

1amp49900

Lamp67900

COlIPA~Y

2fil0 2009 S5 SS

1861900


detnand


30




GROUP 2010

SS

45amp25 256plO

3ra415

CROUP lOll S8

352417

242766

2794448

3389631

CO~IPAlY

2016 lOO9 S5 SS

45amp25 152061 91793 58120

210181


144022 76503

242766 3129 148144 38UlO4

463291 701478


SS6J35

GROUP 010

SS



31



10 Share capital

31MaKb 2810

No ofShares

3] Mar~b 2009

No ofshares

31 Marth 2010 SS

31 ~iareb 2009 SS


)efirfperiod


100

69148800

100 100

69148800

Wi)




GROLIP OlO4llOO9

to 31J93t2010

55


to 3110312010

SS

to 3l9JI1W9

SS


1183469 14203

1lS3A69

7191612

14203

32


12 Staff eosts



GROUP OIJ04lZ009

to 31J031l010

SS

1142662 i 1822

581908 25260 33809



s~ SS

1142662 95121 1tSl2 946

5iH90S 1273 25260 185 33S09 205236

119S~46 1795461 30b161






SS SS 55

(844) (84496)



14 Taxation




SS SS S$


(362531)


(16719) 814


Current taxation






GROlJI lil0 SS









S$ SS






35







to to to 31iD31l010 310311010 310ll2009

sSe ss SS





36












37












38





(145516) 245516

(3213) 3273






39










40







23








220 lueome tax



24









__~$t214__ 561(17





Nllt fkH~k Villoc


77S73 _ 5middotL- 11~~1(


26



-~-------~-~--~-----------------


~QMI~~Y

C(llij



At 3J Murch 2010



At J 1MmCh 2001

Alli Mlmh 20u)

Net Book Value

At1 Mamh20JO

At 31 Mllrnlt 2Oil9

Cm1lIUltfI

lq1tipm-n sS

1631S

91t~

867

13956

7$73

15448

Office Iltulpmctlt

SS

58368

32)8

3238

I d ~291J I

J~iS7

55llil


SS

lliOO

58301

Z1

2 3M I mill ~ Illn

__~~1~L___ 1573


SS

----~~=--~lt

11721

11235

-----~~- shy

3319

l319 I I t t=t

I

fotal is

7()~$l _____

76823 __22J~__

325439

4112

4132 JR618shy

4215fi

282689

7231

27



GROUP 2010 55

2amp328961

GROUP 1010

SS

1231000

GROUP 1010 SS

14551575



28




81071761





ltd


dwiDg the year

29


NolI~ pgrtioo

Stafftoan


GROtJP 2010

SS

18000

698366 98980 27~262

4I985OOO

42814608

42832608


GROUP 10lO

SS


42683366 149242

42832608


18QQO

98230

5000

1146670

1amp49900

Lamp67900

COlIPA~Y

2fil0 2009 S5 SS

1861900


detnand


30




GROUP 2010

SS

45amp25 256plO

3ra415

CROUP lOll S8

352417

242766

2794448

3389631

CO~IPAlY

2016 lOO9 S5 SS

45amp25 152061 91793 58120

210181


144022 76503

242766 3129 148144 38UlO4

463291 701478


SS6J35

GROUP 010

SS



31



10 Share capital

31MaKb 2810

No ofShares

3] Mar~b 2009

No ofshares

31 Marth 2010 SS

31 ~iareb 2009 SS


)efirfperiod


100

69148800

100 100

69148800

Wi)




GROLIP OlO4llOO9

to 31J93t2010

55


to 3110312010

SS

to 3l9JI1W9

SS


1183469 14203

1lS3A69

7191612

14203

32


12 Staff eosts



GROUP OIJ04lZ009

to 31J031l010

SS

1142662 i 1822

581908 25260 33809



s~ SS

1142662 95121 1tSl2 946

5iH90S 1273 25260 185 33S09 205236

119S~46 1795461 30b161






SS SS 55

(844) (84496)



14 Taxation




SS SS S$


(362531)


(16719) 814


Current taxation






GROlJI lil0 SS









S$ SS






35







to to to 31iD31l010 310311010 310ll2009

sSe ss SS





36












37












38





(145516) 245516

(3213) 3273






39










40








220 lueome tax



24









__~$t214__ 561(17





Nllt fkH~k Villoc


77S73 _ 5middotL- 11~~1(


26



-~-------~-~--~-----------------


~QMI~~Y

C(llij



At 3J Murch 2010



At J 1MmCh 2001

Alli Mlmh 20u)

Net Book Value

At1 Mamh20JO

At 31 Mllrnlt 2Oil9

Cm1lIUltfI

lq1tipm-n sS

1631S

91t~

867

13956

7$73

15448

Office Iltulpmctlt

SS

58368

32)8

3238

I d ~291J I

J~iS7

55llil


SS

lliOO

58301

Z1

2 3M I mill ~ Illn

__~~1~L___ 1573


SS

----~~=--~lt

11721

11235

-----~~- shy

3319

l319 I I t t=t

I

fotal is

7()~$l _____

76823 __22J~__

325439

4112

4132 JR618shy

4215fi

282689

7231

27



GROUP 2010 55

2amp328961

GROUP 1010

SS

1231000

GROUP 1010 SS

14551575



28




81071761





ltd


dwiDg the year

29


NolI~ pgrtioo

Stafftoan


GROtJP 2010

SS

18000

698366 98980 27~262

4I985OOO

42814608

42832608


GROUP 10lO

SS


42683366 149242

42832608


18QQO

98230

5000

1146670

1amp49900

Lamp67900

COlIPA~Y

2fil0 2009 S5 SS

1861900


detnand


30




GROUP 2010

SS

45amp25 256plO

3ra415

CROUP lOll S8

352417

242766

2794448

3389631

CO~IPAlY

2016 lOO9 S5 SS

45amp25 152061 91793 58120

210181


144022 76503

242766 3129 148144 38UlO4

463291 701478


SS6J35

GROUP 010

SS



31



10 Share capital

31MaKb 2810

No ofShares

3] Mar~b 2009

No ofshares

31 Marth 2010 SS

31 ~iareb 2009 SS


)efirfperiod


100

69148800

100 100

69148800

Wi)




GROLIP OlO4llOO9

to 31J93t2010

55


to 3110312010

SS

to 3l9JI1W9

SS


1183469 14203

1lS3A69

7191612

14203

32


12 Staff eosts



GROUP OIJ04lZ009

to 31J031l010

SS

1142662 i 1822

581908 25260 33809



s~ SS

1142662 95121 1tSl2 946

5iH90S 1273 25260 185 33S09 205236

119S~46 1795461 30b161






SS SS 55

(844) (84496)



14 Taxation




SS SS S$


(362531)


(16719) 814


Current taxation






GROlJI lil0 SS









S$ SS






35







to to to 31iD31l010 310311010 310ll2009

sSe ss SS





36












37












38





(145516) 245516

(3213) 3273






39










40









__~$t214__ 561(17





Nllt fkH~k Villoc


77S73 _ 5middotL- 11~~1(


26



-~-------~-~--~-----------------


~QMI~~Y

C(llij



At 3J Murch 2010



At J 1MmCh 2001

Alli Mlmh 20u)

Net Book Value

At1 Mamh20JO

At 31 Mllrnlt 2Oil9

Cm1lIUltfI

lq1tipm-n sS

1631S

91t~

867

13956

7$73

15448

Office Iltulpmctlt

SS

58368

32)8

3238

I d ~291J I

J~iS7

55llil


SS

lliOO

58301

Z1

2 3M I mill ~ Illn

__~~1~L___ 1573


SS

----~~=--~lt

11721

11235

-----~~- shy

3319

l319 I I t t=t

I

fotal is

7()~$l _____

76823 __22J~__

325439

4112

4132 JR618shy

4215fi

282689

7231

27



GROUP 2010 55

2amp328961

GROUP 1010

SS

1231000

GROUP 1010 SS

14551575



28




81071761





ltd


dwiDg the year

29


NolI~ pgrtioo

Stafftoan


GROtJP 2010

SS

18000

698366 98980 27~262

4I985OOO

42814608

42832608


GROUP 10lO

SS


42683366 149242

42832608


18QQO

98230

5000

1146670

1amp49900

Lamp67900

COlIPA~Y

2fil0 2009 S5 SS

1861900


detnand


30




GROUP 2010

SS

45amp25 256plO

3ra415

CROUP lOll S8

352417

242766

2794448

3389631

CO~IPAlY

2016 lOO9 S5 SS

45amp25 152061 91793 58120

210181


144022 76503

242766 3129 148144 38UlO4

463291 701478


SS6J35

GROUP 010

SS



31



10 Share capital

31MaKb 2810

No ofShares

3] Mar~b 2009

No ofshares

31 Marth 2010 SS

31 ~iareb 2009 SS


)efirfperiod


100

69148800

100 100

69148800

Wi)




GROLIP OlO4llOO9

to 31J93t2010

55


to 3110312010

SS

to 3l9JI1W9

SS


1183469 14203

1lS3A69

7191612

14203

32


12 Staff eosts



GROUP OIJ04lZ009

to 31J031l010

SS

1142662 i 1822

581908 25260 33809



s~ SS

1142662 95121 1tSl2 946

5iH90S 1273 25260 185 33S09 205236

119S~46 1795461 30b161






SS SS 55

(844) (84496)



14 Taxation




SS SS S$


(362531)


(16719) 814


Current taxation






GROlJI lil0 SS









S$ SS






35







to to to 31iD31l010 310311010 310ll2009

sSe ss SS





36












37












38





(145516) 245516

(3213) 3273






39










40



-~-------~-~--~-----------------


~QMI~~Y

C(llij



At 3J Murch 2010



At J 1MmCh 2001

Alli Mlmh 20u)

Net Book Value

At1 Mamh20JO

At 31 Mllrnlt 2Oil9

Cm1lIUltfI

lq1tipm-n sS

1631S

91t~

867

13956

7$73

15448

Office Iltulpmctlt

SS

58368

32)8

3238

I d ~291J I

J~iS7

55llil


SS

lliOO

58301

Z1

2 3M I mill ~ Illn

__~~1~L___ 1573


SS

----~~=--~lt

11721

11235

-----~~- shy

3319

l319 I I t t=t

I

fotal is

7()~$l _____

76823 __22J~__

325439

4112

4132 JR618shy

4215fi

282689

7231

27



GROUP 2010 55

2amp328961

GROUP 1010

SS

1231000

GROUP 1010 SS

14551575



28




81071761





ltd


dwiDg the year

29


NolI~ pgrtioo

Stafftoan


GROtJP 2010

SS

18000

698366 98980 27~262

4I985OOO

42814608

42832608


GROUP 10lO

SS


42683366 149242

42832608


18QQO

98230

5000

1146670

1amp49900

Lamp67900

COlIPA~Y

2fil0 2009 S5 SS

1861900


detnand


30




GROUP 2010

SS

45amp25 256plO

3ra415

CROUP lOll S8

352417

242766

2794448

3389631

CO~IPAlY

2016 lOO9 S5 SS

45amp25 152061 91793 58120

210181


144022 76503

242766 3129 148144 38UlO4

463291 701478


SS6J35

GROUP 010

SS



31



10 Share capital

31MaKb 2810

No ofShares

3] Mar~b 2009

No ofshares

31 Marth 2010 SS

31 ~iareb 2009 SS


)efirfperiod


100

69148800

100 100

69148800

Wi)




GROLIP OlO4llOO9

to 31J93t2010

55


to 3110312010

SS

to 3l9JI1W9

SS


1183469 14203

1lS3A69

7191612

14203

32


12 Staff eosts



GROUP OIJ04lZ009

to 31J031l010

SS

1142662 i 1822

581908 25260 33809



s~ SS

1142662 95121 1tSl2 946

5iH90S 1273 25260 185 33S09 205236

119S~46 1795461 30b161






SS SS 55

(844) (84496)



14 Taxation




SS SS S$


(362531)


(16719) 814


Current taxation






GROlJI lil0 SS









S$ SS






35







to to to 31iD31l010 310311010 310ll2009

sSe ss SS





36












37












38





(145516) 245516

(3213) 3273






39










40



GROUP 2010 55

2amp328961

GROUP 1010

SS

1231000

GROUP 1010 SS

14551575



28




81071761





ltd


dwiDg the year

29


NolI~ pgrtioo

Stafftoan


GROtJP 2010

SS

18000

698366 98980 27~262

4I985OOO

42814608

42832608


GROUP 10lO

SS


42683366 149242

42832608


18QQO

98230

5000

1146670

1amp49900

Lamp67900

COlIPA~Y

2fil0 2009 S5 SS

1861900


detnand


30




GROUP 2010

SS

45amp25 256plO

3ra415

CROUP lOll S8

352417

242766

2794448

3389631

CO~IPAlY

2016 lOO9 S5 SS

45amp25 152061 91793 58120

210181


144022 76503

242766 3129 148144 38UlO4

463291 701478


SS6J35

GROUP 010

SS



31



10 Share capital

31MaKb 2810

No ofShares

3] Mar~b 2009

No ofshares

31 Marth 2010 SS

31 ~iareb 2009 SS


)efirfperiod


100

69148800

100 100

69148800

Wi)




GROLIP OlO4llOO9

to 31J93t2010

55


to 3110312010

SS

to 3l9JI1W9

SS


1183469 14203

1lS3A69

7191612

14203

32


12 Staff eosts



GROUP OIJ04lZ009

to 31J031l010

SS

1142662 i 1822

581908 25260 33809



s~ SS

1142662 95121 1tSl2 946

5iH90S 1273 25260 185 33S09 205236

119S~46 1795461 30b161






SS SS 55

(844) (84496)



14 Taxation




SS SS S$


(362531)


(16719) 814


Current taxation






GROlJI lil0 SS









S$ SS






35







to to to 31iD31l010 310311010 310ll2009

sSe ss SS





36












37












38





(145516) 245516

(3213) 3273






39










40




81071761





ltd


dwiDg the year

29


NolI~ pgrtioo

Stafftoan


GROtJP 2010

SS

18000

698366 98980 27~262

4I985OOO

42814608

42832608


GROUP 10lO

SS


42683366 149242

42832608


18QQO

98230

5000

1146670

1amp49900

Lamp67900

COlIPA~Y

2fil0 2009 S5 SS

1861900


detnand


30




GROUP 2010

SS

45amp25 256plO

3ra415

CROUP lOll S8

352417

242766

2794448

3389631

CO~IPAlY

2016 lOO9 S5 SS

45amp25 152061 91793 58120

210181


144022 76503

242766 3129 148144 38UlO4

463291 701478


SS6J35

GROUP 010

SS



31



10 Share capital

31MaKb 2810

No ofShares

3] Mar~b 2009

No ofshares

31 Marth 2010 SS

31 ~iareb 2009 SS


)efirfperiod


100

69148800

100 100

69148800

Wi)




GROLIP OlO4llOO9

to 31J93t2010

55


to 3110312010

SS

to 3l9JI1W9

SS


1183469 14203

1lS3A69

7191612

14203

32


12 Staff eosts



GROUP OIJ04lZ009

to 31J031l010

SS

1142662 i 1822

581908 25260 33809



s~ SS

1142662 95121 1tSl2 946

5iH90S 1273 25260 185 33S09 205236

119S~46 1795461 30b161






SS SS 55

(844) (84496)



14 Taxation




SS SS S$


(362531)


(16719) 814


Current taxation






GROlJI lil0 SS









S$ SS






35







to to to 31iD31l010 310311010 310ll2009

sSe ss SS





36












37












38





(145516) 245516

(3213) 3273






39










40


NolI~ pgrtioo

Stafftoan


GROtJP 2010

SS

18000

698366 98980 27~262

4I985OOO

42814608

42832608


GROUP 10lO

SS


42683366 149242

42832608


18QQO

98230

5000

1146670

1amp49900

Lamp67900

COlIPA~Y

2fil0 2009 S5 SS

1861900


detnand


30




GROUP 2010

SS

45amp25 256plO

3ra415

CROUP lOll S8

352417

242766

2794448

3389631

CO~IPAlY

2016 lOO9 S5 SS

45amp25 152061 91793 58120

210181


144022 76503

242766 3129 148144 38UlO4

463291 701478


SS6J35

GROUP 010

SS



31



10 Share capital

31MaKb 2810

No ofShares

3] Mar~b 2009

No ofshares

31 Marth 2010 SS

31 ~iareb 2009 SS


)efirfperiod


100

69148800

100 100

69148800

Wi)




GROLIP OlO4llOO9

to 31J93t2010

55


to 3110312010

SS

to 3l9JI1W9

SS


1183469 14203

1lS3A69

7191612

14203

32


12 Staff eosts



GROUP OIJ04lZ009

to 31J031l010

SS

1142662 i 1822

581908 25260 33809



s~ SS

1142662 95121 1tSl2 946

5iH90S 1273 25260 185 33S09 205236

119S~46 1795461 30b161






SS SS 55

(844) (84496)



14 Taxation




SS SS S$


(362531)


(16719) 814


Current taxation






GROlJI lil0 SS









S$ SS






35







to to to 31iD31l010 310311010 310ll2009

sSe ss SS





36












37












38





(145516) 245516

(3213) 3273






39










40




GROUP 2010

SS

45amp25 256plO

3ra415

CROUP lOll S8

352417

242766

2794448

3389631

CO~IPAlY

2016 lOO9 S5 SS

45amp25 152061 91793 58120

210181


144022 76503

242766 3129 148144 38UlO4

463291 701478


SS6J35

GROUP 010

SS



31



10 Share capital

31MaKb 2810

No ofShares

3] Mar~b 2009

No ofshares

31 Marth 2010 SS

31 ~iareb 2009 SS


)efirfperiod


100

69148800

100 100

69148800

Wi)




GROLIP OlO4llOO9

to 31J93t2010

55


to 3110312010

SS

to 3l9JI1W9

SS


1183469 14203

1lS3A69

7191612

14203

32


12 Staff eosts



GROUP OIJ04lZ009

to 31J031l010

SS

1142662 i 1822

581908 25260 33809



s~ SS

1142662 95121 1tSl2 946

5iH90S 1273 25260 185 33S09 205236

119S~46 1795461 30b161






SS SS 55

(844) (84496)



14 Taxation




SS SS S$


(362531)


(16719) 814


Current taxation






GROlJI lil0 SS









S$ SS






35







to to to 31iD31l010 310311010 310ll2009

sSe ss SS





36












37












38





(145516) 245516

(3213) 3273






39










40



10 Share capital

31MaKb 2810

No ofShares

3] Mar~b 2009

No ofshares

31 Marth 2010 SS

31 ~iareb 2009 SS


)efirfperiod


100

69148800

100 100

69148800

Wi)




GROLIP OlO4llOO9

to 31J93t2010

55


to 3110312010

SS

to 3l9JI1W9

SS


1183469 14203

1lS3A69

7191612

14203

32


12 Staff eosts



GROUP OIJ04lZ009

to 31J031l010

SS

1142662 i 1822

581908 25260 33809



s~ SS

1142662 95121 1tSl2 946

5iH90S 1273 25260 185 33S09 205236

119S~46 1795461 30b161






SS SS 55

(844) (84496)



14 Taxation




SS SS S$


(362531)


(16719) 814


Current taxation






GROlJI lil0 SS









S$ SS






35







to to to 31iD31l010 310311010 310ll2009

sSe ss SS





36












37












38





(145516) 245516

(3213) 3273






39










40


12 Staff eosts



GROUP OIJ04lZ009

to 31J031l010

SS

1142662 i 1822

581908 25260 33809



s~ SS

1142662 95121 1tSl2 946

5iH90S 1273 25260 185 33S09 205236

119S~46 1795461 30b161






SS SS 55

(844) (84496)



14 Taxation




SS SS S$


(362531)


(16719) 814


Current taxation






GROlJI lil0 SS









S$ SS






35







to to to 31iD31l010 310311010 310ll2009

sSe ss SS





36












37












38





(145516) 245516

(3213) 3273






39










40



14 Taxation




SS SS S$


(362531)


(16719) 814


Current taxation






GROlJI lil0 SS









S$ SS






35







to to to 31iD31l010 310311010 310ll2009

sSe ss SS





36












37












38





(145516) 245516

(3213) 3273






39










40




GROlJI lil0 SS









S$ SS






35







to to to 31iD31l010 310311010 310ll2009

sSe ss SS





36












37












38





(145516) 245516

(3213) 3273






39










40







to to to 31iD31l010 310311010 310ll2009

sSe ss SS





36












37












38





(145516) 245516

(3213) 3273






39










40












37












38





(145516) 245516

(3213) 3273






39










40












38





(145516) 245516

(3213) 3273






39










40





(145516) 245516

(3213) 3273






39










40










40

li - gmr group · 2013-09-12 · li . inilepe:1\'de~'t . anntors' report . to the...

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