Global Investments Limited

Global Investments Limited

Global Investments Limited

Home : Singapore Stock Exchange (www.sgx.com)

Global Investments Limited

Stock Code  : B73

Global Investments Limited Logo

Global Investments Limited

Website : www.globalinvestmentslimited.com/index.aspx

Global Investments Limited is a mutual fund company incorporated in Bermuda and listed on the Main Board of the Singapore Exchange Securities Trading Limited (SGX-ST). It is traded with stock code B73 and short name GlobalInv.

Global Investments Limited’s focus is to generate steady income and potential appreciation in capital so as to deliver regular dividends and achieve capital growth.

Global Investments Limited Profit and Loss Statement

adjusted
HY Jun 12 2011 2010 2009
Revenue
Distribution              –      1,162         884          795
Dividend        1,050      1,054      1,143       1,221
Interest        7,710      9,866    10,317     10,466
Rental        4,776      4,765      5,162       5,518
Net Forex              –           –      6,746     23,601
Gain on sale of investment           326      3,608           –       2,141
Profit on Redemption of loan              –           –         100       1,357
Other Ops inc              –           –         223             –
Net Sales      13,862    20,455    24,575     45,099
Expenses
Mgmt fees (912) (813) (826) (1,162)
Net forex loss (818) (382) 0 0
Depre and Amort (1,300) (1,297) (1,405) (2,050)
Finance costs (1,222) (1,325) (1,580) (5,202)
Impairment expense 0 (1,772) (10,352) (58,425)
Other Ops exp (1,860) (1,964) (2,780) (8,912)
Total expenses (6,112) (7,553) (16,943) (75,751)
Gross Margin 7,750 12,902 7,632 (30,652)
Reversal of impairment in associate 4,936 0 0 0
Share of profit of associate 752 0 0 0
Profit before Tax 13,438 12,902 7,632 (30,652)
Tax (506) (690) (1,054) (3,212)
Profit after tax 12,932 12,212 6,578 (33,864)
Others comprehensive inc/loss
Available for sale FA (1,376) (4,082) 10,663 11,540
Forex translation reserve (2,328) 2,186 (10,956) (2,895)
Other comprehensive loss (3,704) (1,896) (293) 8,645
Total comprehensive income to shareholders 9,228 10,316 6,285 (25,219)
Basic 1.16 2.34 1.54 -8.62
Diluted 1.16 2.34 1.54 -8.62
Nos of shares
Basic 793,536 550,209 392,638 392,638
Diluted 793,536 550,209 392,638 392,638
Dividend Per Share (cents) * 0.75 0.50 2.00

Global Investments Limited Profit and Loss Statement for half year 2012 is adjusted to reflect the full year using the straight line method applied to both income and expenses.

Global Investments Limited Statement of Cash Flow

not adjusted
HY Jun 12 2011 2010 2009
Operating costs (25,922) (3,151) (6,277) (13,577)
Interest income 1,814 8,846 9,215 11,503
Distribution income 1,814 1,779 0 3,822
Dividend income 2,868 999 1,143 1,221
Rental income 0 4,777 5,175 5,575
Income tax paid (690) (1,054) (705)
Net cash from Operating (19,426) 12,560 8,202 7,839
Purchase of financial assets 0 (22,027) (16,475) 0
Loan repayment received 0 14,847 10,964 16,312
Disposal of loans and receivables 0 4,067 0 110
Return of capital from FA 0 0 223 67,245
Net cash from Investing 0 (3,113) (5,288) 83,667
Net repayment of borrowings 0 (1,826) (1,859) (143,240)
Proceed from rights 0 21,694 0 0
Payment of rights expenses 0 (198) 0 0
Borrowing costs  paid 0 (1,302) (1,561) (4,103)
Dividend paid 0 (6,092) (5,892) (7,854)
Net cash from Financing 0 12,276 (9,312) (155,197)
Net Inc / (Dec) in cash (19,426) 21,723 (6,398) (63,691)
Cash at beginning of year 0 20,149 27,499 80,224
Currency translation 3,338 294 (952) 6,761
Cash at end of year 42,166 20,149 23,294

Global Investments Limited Statement of Cashflow half year 2012 is not adjusted.

Commentary : DuPont Table on Return On Equity.

HY Jun 12 2011 2010 2009
Return on Owner’s Equity 0.051 0.082 0.065 -0.311

The return on shareowner’s equity is approximately 6% based on the current performance. It appears that the worst years are behind the fund during years of 2008, and 2009.

 

(Gearing/Financial Leverage) HY Jun 12 2011 2010 2009
T Assets 0.80 1.12 1.43 1.37
T shareholder’s equity

Global Investments Limited appears to be triming down on its assets, basing on the ratio. However, the fund has conducted 2 fund raising rights issues. This explains why the gearing is dropping. However, going forward expect the fund to continue asset purchases to maintain or even outperform the market .

(Margin) HY Jun 12 2011 2010 2009
Profit after tax 0.933 0.597 0.268 -0.751
Net Sales

Global Investments Limited appears to perform well the in the recent period. However, this is due to exceptional gains in the accounts book. Within a forward sale of aircrafts. Global Investment could continue to expect exceptional gains.

(Capital Turnover) HY Jun 12 2011 2010 2009
Net Sales 0.069 0.122 0.171 0.302
T Assets

Global Investments Limited’s topline contribution when weighed against the assets employed indicated a declining trend. This declining trend could be explained by the strengthening of the Singapore Dollar, whereas the investments are based in US$, EUR$,and  AUD$.

Expect this year’s topline contribution in capital turnover to remain low as the Global Investments Limited takes time to deploy the capital of rights issues to enhance shareholder returns.

Global Investments Limited.