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Financial Results

APAC Resources Limited (“APAC” or the “Company”) and its subsidiaries (collectively, the “Group”) reported a net profit attributable to shareholders of the Company of HK$328,115,000 for the twelve months ended 30 June 2018 (“FY 2018”), compared with a net profit attributable to shareholders of the Company of HK$548,595,000 for the twelve months ended 30 June 2017 (“FY 2017”). In our core business segments we generated HK$105,551,000 which is 32% higher than in FY 2017. Other significant drivers for FY 2018 includes HK$179,130,000 from our share of results of associates, and HK$67,506,000 from a reversal of impairment loss on the carrying value of the Group’s investment in Mount Gibson Iron Limited (“Mount Gibson”). FY 2017 benefitted from a one-off gain arising from derecognition of our investment in associates of HK$189,599,000, and HK$107,720,000 from an adjustment to carrying amount of loans receivable.

Primary Strategic Investments

Other Significant Investments

Available-for-sale Investments - Metals X and Westgold Resources

Equity Investments at fair value through profit loss - Resource Investment


Commodity Business

Principal Investment and Financial Services

Money Lending

Liquidity, Financial Resources and Capital Structure

As at 30 June 2018, our non-current assets amounted to HK$1,921,554,000 (As at 30 June 2017: HK$1,431,077,000) and net current assets amounted to HK$1,130,770,000 (As at 30 June 2017: HK$1,462,760,000) with a current ratio of 20.1 times (As at 30 June 2017: 65.1 times) calculated on the basis of its current assets over current liabilities. Included in non-current assets and current assets are loan notes of HK$51,420,000 (As at 30 June 2017: HK$190,362,000) and loans receivable of HK$399,276,000 (As at 30 June 2017: HK$232,138,000).

As at 30 June 2018, we had borrowings of HK$43,500,000 (As at 30 June 2017: Nil) and had undrawn banking facilities
amounting to HK$182,581,000 secured against certain term deposits of the Group. As at 30 June 2018, we had a gearing ratio of 0.01 (As at 30 June 2017: Nil), calculated on the basis of total borrowings over equity attributable to owners of the Company.
                                                                                                                                                         (update as of 21 September 2018) 
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