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| Financial Results |
APAC Resources Limited (“APAC” or the “Company”) and its subsidiaries (collectively, the “Group”) reported a net loss attributable to shareholders of the Company of HK$465,994,000 for the year ended 30 June 2022 (“FY2022”), compared with a net profit attributable to shareholders of the Company of HK$1,357,290,000 for the year ended 30 June 2021 (“FY2021”). This loss includes two material non-cash items as follows: (a) an impairment loss in Mount Gibson Iron Limited (“Mount Gibson”) as an associate of HK$405,751,000, and (b) a share of loss of Mount Gibson of HK$364,734,000. These losses have entirely offset the strong performance in our Resource Investment division where we generated a segment profit of HK$171,572,000.
Primary Strategic Investments
Financial Assets at Fair Value through Profit or Loss
Resource Investment
Commodity Business
Principal
Investment and Financial Services
Money Lending
Liquidity, Financial Resources and Capital Structure
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As at 30 June 2022, our non-current assets amounted to HK$2,386,729,000 (As at 30 June 2021: HK$2,755,862,000) and net current assets amounted to HK$1,685,786,000 (As at 30 June 2021: HK$2,076,671,000) with a current ratio of 5.2 times (As at 30 June 2021: 20.7 times) calculated on the basis of its current assets over current liabilities. Included in non-current assets and current assets are loan note of HK$3,965,000 (As at 30 June 2021: HK$3,924,000) and loan receivables of HK$362,698,000 (As at 30 June 2021: HK$493,850,000).
As at 30 June 2022, we had borrowings of HK$289,617,000 (excluding lease liabilities) (As at 30 June 2021: Nil) and had undrawn letter of credit, bank and other loan facilities amounting to HK$413,712,000. As at 30 June 2022, we had a gearing ratio of nil (As at 30 June 2021: Nil), calculated on the basis of net debt over equity attributable to owners of the Company. For this purpose, net debt is defined as borrowings (excluding lease liabilities) less cash and cash equivalents.
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(update as of
27
September 2022) |
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