MIRA
INFORM REPORT
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Report Date : |
17.10.2013 |
IDENTIFICATION DETAILS
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Name : |
SINGAPORE AIRLINES LTD. |
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Registered Office : |
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Country : |
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Financials (as on) : |
31.03.2013 |
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Date of Incorporation : |
28.01.1972 |
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Com. Reg. No.: |
197200078R |
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Legal Form : |
Public
Subsidiary |
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Line of Business : |
·
Subject
is a passenger air transportation company Subject is engaged in passenger and cargo air
transportation, engineering services, training of pilots, air charters and
tour wholesaling and related activities |
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No. of Employees : |
23,189 |
RATING & COMMENTS
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MIRA’s Rating : |
A |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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56-70 |
A |
Financial & operational base are regarded healthy. General
unfavourable factors will not cause fatal effect. Satisfactory capability for
payment of interest and principal sums |
Fairly Large |
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Status : |
Good |
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Payment Behaviour : |
No Complaints |
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Litigation : |
Clear |
NOTES :
Any query related to this report can be made
on e-mail: infodept@mirainform.com
while quoting report number, name and date.
ECGC Country Risk Classification List – March 31st, 2013
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Country Name |
Previous Rating (31.12.2012) |
Current Rating (31.03.2013) |
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Singapore
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A1 |
A1 |
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Risk Category |
ECGC
Classification |
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Insignificant |
A1 |
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Low |
A2 |
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Moderate |
B1 |
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High |
B2 |
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Very High |
C1 |
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Restricted |
C2 |
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Off-credit |
D |
Singapore ECONOMIC OVERVIEW
Singapore has a
highly developed and successful free-market economy. It enjoys a remarkably
open and corruption-free environment, stable prices, and a per capita GDP
higher than that of most developed countries. The economy depends heavily on
exports, particularly in consumer electronics, information technology products,
pharmaceuticals, and on a growing financial services sector. Real GDP growth
averaged 8.6% between 2004 and 2007. The economy contracted 0.8% in 2009 as a
result of the global financial crisis, but rebounded 14.8% in 2010, on the
strength of renewed exports, before slowing to 5.2% in 2011 and 1.3% in 2012,
largely a result of soft demand for exports during the second European
recession. Over the longer term, the government hopes to establish a new growth
path that focuses on raising productivity, which has sunk to an average of
about 1.0% in the last decade. Singapore has attracted major investments in
pharmaceuticals and medical technology production and will continue efforts to
establish Singapore as Southeast Asia's financial and high-tech hub.
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Source : CIA |
Company
name & address
Singapore Airlines Ltd.
Singapore 1000
Rank: 29
Airline House, 25
Airline Road
Singapore, 819829
Singapore
Tel: 65-6-5414030
Fax: 65-6-5467469
Web: www.singaporeair.com
synthesis
Employees: 23,189
Company Type: Public
Subsidiary
Corporate Family: 504 Companies
Ultimate Parent: Government Of Singapore
Traded: Singapore Exchange
Securities Trading: C6L
Incorporation
Date: 28-Jan-1972
Auditor: Ernst
& Young LLP
Financials in: USD (Millions)
Fiscal Year End: 31-Mar-2013
Reporting Currency: Singapore
Dollar
Annual Sales:
12,148.5 1
Net Income: 304.9
Total Assets: 18,076.9 2
Market Value:
9,975.3 (27-Sep-2013)
Business
Description
Singapore Airlines Limited is a passenger air
transportation company. The Company is engaged in passenger and cargo air
transportation, engineering services, training of pilots, air charters and tour
wholesaling and related activities. The Company operates in four segments:
airline operations, cargo operations, engineering services and others. The
Company’s subsidiaries include SIA Engineering Company Limited (SIAEC),
Singapore Airlines Cargo (SIA Cargo) and SilkAir (Singapore) Private Limited
(SilkAir). As of March 31, 2012, SIA Cargo operated a fleet of 13 B747-400
freighters. During the fiscal year ended March 31, 2012, SilkAir launched
services to Bandung (Indonesia), Changsha (China), Darwin (Australia), Koh
Samui (Thailand) and Kolkata (India). As of March 31, 2012, Singapore Airlines
Group operated fleet consisted of 133 aircraft -120 passenger aircraft and 13
freighters. In June 2013, Singapore Airlines Ltd announces completion of sale
of shares in Virgin Atlantic Limited. For the three months ended 30 June 2013,
Singapore Airlines Ltd. revenues increased 2% to SP$3.84B. Net income increased
56% to SP$121.8M. Revenues reflect an increase in demand for the Company's
products and services due to favorable market conditions. Net income benefited
from G/L on Sale of Tangible & Intangible FA increase from SP$700K
(expense) to SP$13.9M (income), Interest Income increase of 36% to SP$16.2M
(income).
Industry
Industry Airlines
ANZSIC 2006:
4900 - Air and Space Transport
ISIC Rev 4:
5110 - Passenger air transport
NACE Rev 2:
5110 - Passenger air transport
NAICS 2012:
481111 - Scheduled Passenger Air Transportation
UK SIC 2007:
51101 - Scheduled passenger air transport
US SIC 1987:
4512 - Air Transportation, Scheduled
Key
Executives
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Name |
Title |
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Choon Phong Goh |
Chief Executive Officer, Non-Independent Executive Director |
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Hon Chew Chan |
Senior Vice President - Finance |
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Chik Quee Tan |
Senior Vice President - Marketing |
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Ethel Tan |
Company Secretary |
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Chin Hwee Ng |
Executive Vice President - Human Resources
and Operations |
Significant Developments
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Financial Summary
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Stock Snapshot
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1 - Profit &
Loss Item Exchange Rate: USD 1 = SGD 1.242806
2 - Balance Sheet
Item Exchange Rate: USD 1 = SGD 1.240705
Corporate
Overview
Location
Airline House, 25
Airline Road
Singapore, 819829
Singapore
Tel: 65-6-5414030
Fax: 65-6-5467469
Web: www.singaporeair.com
Quote Symbol -
Exchange
C6L - Singapore Exchange Securities Trading
Sales SGD(mil): 15,098.2
Assets SGD(mil): 22,428.1
Employees: 23,189
Fiscal Year End: 31-Mar-2013
Industry: Airlines
Incorporation
Date: 28-Jan-1972
Company Type: Public Subsidiary
Quoted Status: Quoted
Registered
No.(Asia): 197200078R
Chief Executive Officer,
Non-Independent Executive Director:
Choon Phong Goh
Industry Codes
ANZSIC 2006 Codes:
4900 - Air and Space Transport
5220 - Airport Operations and Other Air
Transport Support Services
ISIC Rev 4 Codes:
5110 - Passenger air transport
5223 - Service activities incidental to air
transportation
NACE Rev 2 Codes:
5110 - Passenger air transport
5223 - Service activities incidental to air
transportation
NAICS 2012 Codes:
481111 - Scheduled
Passenger Air Transportation
488119 - Other
Airport Operations
US SIC 1987:
4512 - Air
Transportation, Scheduled
4581 - Airports,
Flying Fields, and Airport Terminal Services
UK SIC 2007:
51101 - Scheduled
passenger air transport
5223 - Service
activities incidental to air transportation
Business Description
Singapore
Airlines Limited is a passenger air transportation company. The Company is
engaged in passenger and cargo air transportation, engineering services,
training of pilots, air charters and tour wholesaling and related activities.
The Company operates in four segments: airline operations, cargo operations,
engineering services and others. The Company’s subsidiaries include SIA
Engineering Company Limited (SIAEC), Singapore Airlines Cargo (SIA Cargo) and
SilkAir (Singapore) Private Limited (SilkAir). As of March 31, 2012, SIA Cargo
operated a fleet of 13 B747-400 freighters. During the fiscal year ended March
31, 2012, SilkAir launched services to Bandung (Indonesia), Changsha (China),
Darwin (Australia), Koh Samui (Thailand) and Kolkata (India). As of March 31,
2012, Singapore Airlines Group operated fleet consisted of 133 aircraft -120
passenger aircraft and 13 freighters. In June 2013, Singapore Airlines Ltd
announces completion of sale of shares in Virgin Atlantic Limited. For the
three months ended 30 June 2013, Singapore Airlines Ltd. revenues increased 2%
to SP$3.84B. Net income increased 56% to SP$121.8M. Revenues reflect an
increase in demand for the Company's products and services due to favorable
market conditions. Net income benefited from G/L on Sale of Tangible & Intangible
FA increase from SP$700K (expense) to SP$13.9M (income), Interest Income
increase of 36% to SP$16.2M (income).
More Business Descriptions
Passenger and
cargo air transportation, engineering services and other airline and
airline-related activities.
Passenger and
cargo air transportation, engineering services, training of pilots, air
charters and tour wholesaling and related activities
Air
Transportation Services
Singapore
Airlines Limited (Singapore Airlines) is engaged in airline operations, airport
terminal services and engineering services. The company also undertakes
industries and sectors operations, such as ground handling, aircraft leasing,
aviation engineering, air catering and tour operations. Through code sharing
agreement, the company partners with other airlines such as Air Canada, Air New
Zealand, All Nippon Airways, Asiana Airlines, EGYPTAIR, LOT Polish Airlines and
others. The Airline expanded its codeshare agreement with Star Alliance partner
Spanair, allowing Singapore Airlines to offer flight services between Barcelona
and Madrid; and Palma de Mallorca and Bilbao. Singapore Airlines has major
operations in East Asia and is spread across Europe, South West Pacific,
Americas, West Asia and Africa with a fleet size of about 100 aircraft, with an
average age of six years and two months.The company operates business through
four reportable business segments, namely, Airline Operations, Cargo
Operations, Engineering Services and Others. The company's Airline Operations
segment provides passenger air transportation services. As of March 31, 2012,
Singapore Airlines operated a fleet of 133 aircraft - 120 passenger aircraft
and 13 freighters. 100 and 20 of the passenger aircraft were operated by
Singapore Airlines and SilkAir respectively. For the fiscal year ended March
2012, this segment generated revenue of SGD11582.3m, indicating an increase of
3.2% over its revenue in 2011. The Airline Operations segment accounted for
77.95% of the company's total revenue in 2012. Through Cargo Operations
segment, Singapore Airlines provides air cargo transportation and related
activities. The air cargo transport is carried out by SIA Cargo, with a fleet
size of 13 Boeing 747-400 freighters with an average age of 11 years and three
months. Passenger transportation is taken care of by its wholly-owned
subsidiary, SilkAir (Singapore) Private Limited. For the fiscal year ended
March 2012, the company generated revenue of SGD2673.6m from this segment,
indicating a decrease of 3.7% over revenue in 2011. The Cargo Operations
segment accounted for 17.99% of the company's total revenue in 2012. The
Engineering Services of the company comprises extensive maintenance, repair and
overhaul (MRO) of aircraft. It provides airframe maintenance and overhaul
services, line maintenance, technical ground handling services and fleet
management programs. Additionally, the company manufactures aircraft cabin
equipment, refurbishes aircraft galleys and provides technical and
non-technical handling services and repair and overhaul of hydro-mechanical
aircraft equipment. For the fiscal year ended March 2012, the company generated
revenue of SGD551.5m from this segment, indicating an increase of 18.2% over
revenue in 2011. The Engineering Services segment accounted for 3.71% of the company's
total revenue in 2012. Under Others segment, Singapore Airlines provides
various special deals and travel package services. Additionally, it offers
pilot training, air charter and tour wholesaling services. For the fiscal year
ended March 2012, the company generated revenue of SGD50.4m from this segment,
indicating a decrease of 8.9% over revenue in 2011. The Others segment
accounted for 0.34% of the company's total revenue in 2012. Geographically, the
company operates across five regions, namely, East Asia, Europe, South West
Pacific, Americas, and West Asia and Africa. For the fiscal year ended March
2012, the East Asia segment accounted for 53.23% of the company's total
revenue, followed by 17.43% from South West Pacific; 15.80% from Europe; 8.37% from
Americas; and 5.16% from West Asia and Africa. The revenue analysis by area of
original sale from airline operations is derived by allocating revenue to the
area in which the sale was made. The revenue from other operations including
engineering services and cargo operations, derived in East Asia is not
considered. The principal subsidiaries through which the company operates
include SIA Engineering Company Limited, NexGen Network (1) Holding Pte Ltd,
SIAEC Global Pte Ltd, Singapore Jamco Pte Ltd, Singapore Airlines Cargo Pte
Ltd, Cargo Community Network Pte Ltd, SilkAir (Singapore) Private Limited,
Tradewinds Tours & Travel Private Limited, Singapore Aviation and General
Insurance Company (Pte) Limited, SIA Properties (Pte) Ltd, Singapore Flying College
Pte Ltd and Abacus Travel Systems Pte Ltd, among others. In September 2012, the
company has signed a major agreement with Panasonic Avionics for advanced
in-flight entertainment and communications (IFEC) systems for more than 40 new
aircraft on firm order with Airbus and Boeing. In the same month, the company
formally launch In-Flight Connectivity as part of a US$50 million programme to
bring Internet and mobile data services to customers, even when flying at
35,000ft. In August 2012, the company and Ritzau reported that SAS AB signed
joint venture agreement. In May 2012, the company announced to suspend services
to Abu Dhabi in the UAE and Athens in Greece as a result of the sustained weak
performance of both routes. In April, the company's wholly owned subsidiary
Scoot announced to start daily services between Singapore and Sydney, and
five-times-weekly services between Singapore and Gold Coast in Australia. In
February 2012, the company has reduced freighter capacity by 20% in response to
continuing weakness in demand and high fuel prices.
Singapore
Airlines Limited (Singapore Airlines) is a Singapore-based airline company that
conducts airline operations, airport terminal services and engineering
services. Singapore Airlines provides both passenger and cargo, besides mail
air transportation services to its customers worldwide. The company operates
business through four reportable segments, namely, Airline Operations,
Engineering Services, Cargo Operations and Others. Some of the major
subsidiaries of the company include Singapore Airlines Cargo Pte Limited, SIA
Engineering Company Limited, NexGen Network (1) Holding Pte Ltd, SIAEC Global
Pte Ltd and SilkAir (Singapore) Private Limited among others. The company
operates in East Asia, Europe, South West Pacific, Americas, West Asia and
Africa. Singapore Airlines is headquartered in Singapore.The company reported
revenues of (Singapore Dollars) SGD 15,098.20 million during the fiscal year
ended March 2013, an increase of 1.62% over 2012. The operating profit of the
company was SGD 209.60 million during the fiscal year 2013, a decrease of
23.64% from 2012. The net profit of the company was SGD 378.90 million during
the fiscal year 2013, an increase of 12.80% over 2012.
In flight and on
the ground Singapore Airlines subsidiaries including SilkAir the regional wing
of Singapore Airlines Tradewinds Tour and Travel as well as the industrial
giants SIA Engineering Company and SIA Cargo add much to our offering and to
our commitment to quality service throughout the world.
Singapore Airlines has grown from a small regional
airline into one of the world's leading carriers. At the centre of its
extensive route network is a top-ranked travel gateway, Singapore's Changi
Airport. From a single plane with three flights per week, today Singapore
Airlines flies to more than 100 destinations in over 41 countries, in one of
the most advanced air fleets in the industry. The company's subsidiary
companies include SilkAir, which flies to Asia's most exotic locations,
offering flights to 26 destinations, each offering a unique experience through
its natural wonders, local cultures and customs. Its Tradewinds offers a wide
range of tours, special deals and travel packages to many destinations around
the world. SIA Engineering Company has been providing engineering services to
more than 85 international air carriers from the United States, Europe, Middle
East, and Asia Pacific. SATS, is SIA's ground-handling subsidiary, provides
services including catering, passenger, baggage, cargo and ramp handling,
aircraft interior cleaning, aircraft security, and aircraft linen laundry. SIA
Cargo operates to over 75 destinations around the world with its large fleet
and most technologically advanced commercial freighters - the B747-400 Mega
Ark. With a wide range of products, it provides flexibility to meet all types
of needs to get cargo to anywhere in the world, anytime.
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Strategic
Initiatives
Sales and Distribution
Such high growth
in the travel and tourism markets could boost the sales of its products in the
market, enabling it to provide services to its customers and augment its
business. Dependence on Third Party Vendors. The company relies on third
parties for many critical activities including airframe and engine maintenance,
computer reservation system hosting and software maintenance. It has also
subcontracted its heavy aircraft maintenance, fleet service, facilities
maintenance, and ground handling services at certain airports to outside
vendors. In this high level of competition marginal differentiation among the
companies is difficult because every company is in plans to adopt different
steps to improve its technology as well as its dependence level upon others. In
case if one or more vendors become bankrupt, ceases operation or fails to
perform as per the commitments, replacement services may not be readily
available at competitive rates. Such events could also result into disruptions
in its operations and increase in the company’s cost structure. Volatility in
Fuel Prices. The company's growth could be limited owing to the volatility in
fuel prices, which is forcing airline companies to review the routes they
operate.
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Helpful |
Harmful |
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Internal Origin |
Strengths |
Weaknesses |
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External Origin |
Opportunities |
Threats |
Overview
Singapore
Airlines Limited (Singapore Airlines) is active in providing passenger and air
cargo transportation, engineering services, training of pilots, airport
terminal services, air charters and tour wholesaling. It operates in
partnership with several players in the Airlines industry to enhance its
network and service portfolio. The company could cash on its strong operational
fleet through optimum utilization to garner a major market share in the
Airlines industry. However, intense competition in the markets that the company
operates could have an adverse affect on its operational performance.
Strengths
Codeshare Partnerships
Singapore
Airlines has strong code-sharing partnerships with various airline companies
globally, through which it enhanced its network and service portfolio, thus
benefiting its customers. Maintaining and expanding these alliances will
provide a great growth opportunity for the company by diversifying its product
and service offerings and reaching out to wider geographical locations. The
company is into code-sharing partnerships with world's leading airline players,
including Air Canada, Air India, Air New Zealand, All Nippon Airways, Asiana
Airlines, Brussels Airlines, EGYPTAIR, Garuda Indonesia, LOT Polish Airlines,
Lufthansa, Malaysia Airlines, Scandinavian Airlines, SilkAir, South African
Airways, Swiss International Air Lines, Transaero Airlines, Turkish Airlines,
US Airways and Virgin Atlantic Airways. It is also a member of Star Alliance, which
covers 1,356 destinations and 193 countries worldwide. Partnerships and
alliances such as these provide better reach for the company’s offerings,
which in turn, drives its top line performance.
Effective Fleet Management
A modern fleet
increases fuel efficiency and safety and lowers carbon emissions, which will
not only increase passenger confidence but also enhance its reputation.
Singapore Airlines operates a strong fleet, through which it conducts
operations in Airline Operations, Airport Terminal Services and Engineering
Services. As of March 31, 2012, the company has maintained and operated a fleet
of 133 aircrafts, of which 120 are passenger aircraft while the other 13 are
freighters. Of its total fleet, 100 and 20 of the passenger aircrafts were
operated by Singapore Airlines and its subsidiary SilkAir respectively. Its
operational fleet include A330-300 aircraft, Boeing 777-200ERs, Boeing
777-200s, A380-800 aircraft and Boeing 747-400 freighters, among others.
Majority of its fleet is relatively young, which helps the company in
minimizing its transportation costs. In addition, Singapore Airlines’
extended range of Boeing holds industry leading levels of comfort and service
to their passengers in their longest transcontinental routes. With such a
strong operational fleet, the company maintains a competitive position in the
market.
Geographical Diversity
Singapore
Airlines has a diversified global presence. By spreading its business across
geographies, the company managed to minimize the risks arising out of a
specific geographical region. It is one of the leading airline service
providers engaged in providing airport terminal services and engineering
services. Through codesharing agreements, Singapore Airlines partnered with
other airlines such as Air Canada, Air New Zealand, All Nippon Airways, Asiana
Airlines, EGYPTAIR, and LOT Polish Airlines among others, through which it has
established operations in the major economies of Asia, Europe and the Americas.
During the fiscal year ended March 2012, the company generated 53.23% of its
total revenue from East Asia, ollowed by 17.43% from South West Pacific; 15.80%
from Europe; 8.37% from Americas; and 5.16% from West Asia and Africa. Its
diversified geographical presence ensures that Singapore Airlines remains
shielded from macroeconomic risks associated with operational presence in one
location.
Weaknesses
Deteriorating Profitability Ratios
Deteriorating
profitability ratios indicate that the company has been under performing and is
not in a position to deliver value as expected by its shareholders. In fiscal
2012, the company recorded decline across its various profitability indicators.
The company registered an operating profit of SGD274.50m during the fiscal year
ended 2012, a decrease of 76.12% from 2011. The decrease in operating profit
resulted in the decreased net profit levels. Its net profit was SGD335.90m
during the fiscal year ended 2012, a decrease of 69.24% in 2011. Decreased
operating and net profits of the company resulted in decreased profitability
ratios. The company reported operating margin of 1.85% in 2012, as compared to
7.91% in 2011. The company also reported decreased return on equity (ROE) in
2012. Its ROE was 2.61% for fiscal year 2012, compared to 7.69% in 2011. Its return
on capital employed was 1.64% in the fiscal year ended 2012, compared to 6.27%
in 2011. Also, its return on assets, return on fixed assets, and return on
working capital were 1.52%, 1.85%, and 14.14%, respectively in 2012 compared to
4.45%, 7.78% and 32.4% in 2011.
Limited Liquidity
Declining
liquidity assumes significance as the company will be compelled to spend a
significant amount of money to enhance its business and revenue stream. The
company reported a decline in all the liquidity ratios. Its liquidity ratios
decreased due to the decrease in its current assets. Its total current assets
decreased to SGD7,205.9m in the fiscal year 2012 from SGD9,779.2m in 2011. This
led to a marginal decline in its liquidity indicators such as current ratio,
quick ratio and cash ratio. During the fiscal year ended March 2012, it
reported current ratio of 1.37 times as against 1.57 times in 2011, followed by
quick ratio of 1.31 times as against 1.52 times, and cash ratio of 1.01 times
in 2012 as against 1.26 times in 2011. The declining current ratio indicates
that the company is in a weak position to meet its short-term obligations. The
company also reported a decrease in cash and short term investments in fiscal
year 2012. The company had SGD5,342m in cash and short term investments as of
March 2012, as compared to cash and short term investments of SGD7,847.1m in
2011. The decrease in cash reserves was principally due to the decrease in cash
flow from operating activities. As a result, the company recorded negative net
change in cash of SGD2,731.5m during 2012, as compared to a net change in cash
of SGD2,962.3m in 2009. The decreasing cash reserves indicate the company’s
inability to obtain additional debt to finance acquisitions, capture business
opportunities and meet capital expenditure or other capital requirements in the
future.
Opportunities
Growing Travel and Tourism
The company's
business is strongly related to the performance of global travel and tourism
sector. The global travel and tourism industry is expected to expand on a
continuous basis in spite of declining economy. This is due to the demand from
growing middle classes in emerging markets. According to World Travel and
Tourism Council (WTTC), global travel and tourism is projected to grow by more than
4%. Revenues from global travel and tourism are projected to double by 2018
over 2008. This growing travel and tourism could help the company in
strengthening its business further. In line with this, Singapore Airlines
entered into agreements with Tourism Queensland, Tourism Australia, Spain
Tourism Board and Changi Airport Group (CAG) to jointly promote tourism
industry in Australia, Spain and Singapore. Such initiatives would help the
company enhance its revenue channels. According to World Tourism Organization
(UNWTO), in 2011, international tourism receipts exceeded $1 trillion,
reflecting an increase of 4% over $928 billion in 2010. An additional $196
billion in receipts from international passenger transport brought total
exports generated by international tourism in 2011 to $1.2 trillion.
Asia-Pacific witnessed a growth of 6%, reaching a total 216 million
international tourists. Americas witnesses an increase of 4% in arrivals,
reaching 156 million in total. UNWTO forecasts international tourism to continue
growing in 2012. By the end of 2012, total arrivals are expected to reach one
billion. Emerging economies will regain the lead with stronger growth in Asia
and the Pacific and Africa (4%-6%), followed by the Americas and Europe
(2%-4%). the Middle East (up to 5%). Such high growth in the travel and tourism
markets could boost the sales of its products in the market, enabling it to
provide services to its customers and augment its business.
Open Skies Policy
Singapore
Airlines could benefit from various countries embracing Open Skies Policy,
which could trigger demand for new aircrafts. Many regions across the world are
embracing the open skies policy. Of late, the Canadian government has announced
open skies policy for cross border operations. The agreement would allow US
carriers to utilize Canada as a platform to operate their cargo and passenger
services to any third country. Further, there are no regulations on pricing of
tickets or tour packages. Similar agreement exists between the US and EU. ASEAN
countries are working towards a complete open sky policy, latest by 2015. There
already exists an open sky policy among few countries. For instance, Thailand
has Open Sky policy with countries such as India and Cambodia. Once the
aviation industry comes out of its present difficulties, airlines could fly
more between countries and regions that are part of open skies policy, which in
turn could create demand for new aircrafts.
Strategic Initiatives
Strategic
initiatives help the company in achieving its goal in a short period of time
with a choice of technologies. In September 2012, Singapore Airlines formally
launched the In-Flight Connectivity as part of a $50m programme to bring
Internet and mobile data services to customers, even when flying at 35,000ft.
The In-Flight Connectivity is available on 14 aircraft in the fleet, comprising
all its Airbus A340-500s which are deployed on the world’s longest non-stop
flights, between Singapore and both Newark and Los Angeles. In January 2012,
Singapore Airlines and Scandinavian Airlines collaborated to boost air services
between Singapore and destinations in Scandinavia, including participating in
joint sales activities and with direct flights to the Swedish capital Stockholm
should market conditions permit. In the same month, the daily Boeing 747-400
service plying Singapore-Frankfurt-New York is replaced with an Airbus A380,
indicating a daily increase of 25% in seat capacity. Earlier, in November 2011,
the Airline signed an agreement with Boeing to purchase eight more B777-300ERs
and there by enhancing its fleet. Such initiatives helps the company in
enhancing its operations and there by attracting new customers.
Threats
Dependence on Third Party Vendors
The company
relies on third parties for many critical activities including airframe and
engine maintenance, computer reservation system hosting and software
maintenance. It has also subcontracted its heavy aircraft maintenance, fleet
service, facilities maintenance, and ground handling services at certain airports
to outside vendors. In this high level of competition marginal differentiation
among the companies is difficult because every company is in plans to adopt
different steps to improve its technology as well as its dependence level upon
others. In case if one or more vendors become bankrupt, ceases operation or
fails to perform as per the commitments, replacement services may not be
readily available at competitive rates. Such events could also result into
disruptions in its operations and increase in the company’s cost structure.
Volatility in Fuel Prices
The company's
growth could be limited owing to the volatility in fuel prices, which is
forcing airline companies to review the routes they operate. Prices of aviation
fuel have been fluctuating rapidly. The fuel prices reached an average of $88.2
per barrel in 2010 from $70.28 per barrel in 2008. This scenario could result
in the company’s handling lesser flights than the originally scheduled
flights. Singapore Airlines’ expenses climbed up due to the escalating prices
of jet fuel, which continues to be the airlines’ biggest operating expense.
Besides this, West Coast jet fuel prices are somewhat higher and more volatile
than prices in the Gulf Coast or on the East Coast, putting the company's airlines
at a slight competitive disadvantage. The volatility in fuel prices could
affect the profit margin of the company, as it would find it difficult to pass
on the increased fuel prices to passengers in the form of price hike or
surcharge in a contracting airline market.
Competitive Pressures
The aviation
industry is highly competitive. Singapore Airline faces stiff competition from
national and international airways service providers and also from low cost
airlines. Singapore Airlines competes with All Nippon Airways Co Ltd, British
Airways, Delta Air Lines, Inc, and Japan Airlines Corporation among others. In
such a highly competitive scenario, the company could face challenges in
pricing, quality, services, and related issues. The company’s failure to
maintain and enhance its competitive position could adversely affect its
business and prospects. Furthermore, Singapore Airlines faces competition in
acquiring prime locations, global distribution system, hiring personnel, and
advertising, which could affect its business. Competitive pressure could lead
to reduction in sales and could thereby have a negative impact on its sales.
|
Corporate Family |
Corporate
Structure News: |
|
|
Government
Of Singapore |
|
Singapore Airlines Ltd. |
|
|
Company
Name |
Company
Type |
Location |
Country |
Industry |
Sales |
Employees |
|
|
Parent |
Singapore |
Singapore |
Executive and Legislature |
|
|
|
|
|
Subsidiary |
Singapore |
Singapore |
Executive and Legislature |
|
600 |
|
|
|
Subsidiary |
Singapore |
Singapore |
Executive and Legislature |
|
|
|
|
|
Minister For Finance Inc. |
Subsidiary |
|
|
|
|
|
|
|
Subsidiary |
Singapore |
Singapore |
Holding Companies |
66,627.3 |
170,000 |
|
|
|
Asset/product
line purchase proposed/announced.See corporate
structure news on
Government Of |
|||||||
|
Subsidiary |
Singapore |
Singapore |
Holding Companies |
2,265.8 |
33,996 |
|
|
|
Subsidiary |
Karachi |
Pakistan |
Banking |
|
3,642 |
|
|
|
Subsidiary |
Amsterdam, Noord-Holland |
Netherlands |
Banking |
|
4 |
|
|
|
Subsidiary |
Singapore |
Singapore |
Holding Companies |
1,583.9 |
|
|
|
|
Subsidiary |
Singapore |
Singapore |
Holding Companies |
19.7 |
|
|
|
|
Subsidiary |
Mumbai, Maharashtra |
India |
Banking |
1.9 |
|
|
|
|
Branch |
Mumbai |
India |
Mortgage and Credit |
|
|
|
|
|
Holding |
Singapore |
Singapore |
Airlines |
12,148.5 |
23,189 |
|
|
|
Asset/product
line purchase proposed/announced. See corporate
structure news on
Government Of Singapore for details |
|||||||
|
Subsidiary |
Singapore |
Singapore |
Air Transportation Services |
922.7 |
23,189 |
|
|
|
Subsidiary |
Singapore |
Singapore |
Aircraft Engine and Parts Manufacturing |
35.0 |
350 |
|
|
|
Subsidiary |
Pampanga |
Philippines |
Air Transportation Services |
|
146 |
|
|
|
Subsidiary |
Singapore |
Singapore |
Aircraft Engine and Parts Manufacturing |
11.1 |
43 |
|
|
|
Subsidiary |
Singapore |
Singapore |
Air Transportation Services |
1,463.6 |
14,409 |
|
|
|
Acquisition of
Singapore Cruise Centre Pte. Ltd. proposed/announced. See corporate
structure news on
Government Of |
|||||||
|
Subsidiary |
Singapore |
Singapore |
Air Transportation Services |
382.2 |
4,835 |
|
|
|
Subsidiary |
Singapore |
Singapore |
Grocery Wholesale |
129.0 |
2,731 |
|
|
|
Subsidiary |
Cork |
Ireland |
Holding Companies |
17.0 |
173 |
|
|
|
Subsidiary |
Singapore |
Singapore |
Food Manufacturing |
|
120 |
|
|
|
Subsidiary |
Rockhampton, QLD |
Australia |
Investment Services |
|
27 |
|
|
|
Subsidiary |
Hervey Bay, QLD |
Australia |
Grocery Wholesale |
|
100 |
|
|
|
Subsidiary |
Hervey Bay, QLD |
Australia |
Grocery Wholesale |
|
|
|
|
|
Subsidiary |
Singapore |
Singapore |
Restaurants and Bars |
82.7 |
|
|
|
|
Subsidiary |
Shanghai |
China |
Food Manufacturing |
|
|
|
|
|
Subsidiary |
Cork |
Ireland |
Grocery Wholesale |
|
|
|
|
|
Subsidiary |
Singapore |
Singapore |
Grocery Wholesale |
|
|
|
|
|
Subsidiary |
Singapore |
Singapore |
Restaurants and Bars |
|
|
|
|
|
Subsidiary |
Singapore |
Singapore |
Restaurants and Bars |
351.6 |
1,954 |
|
|
|
Subsidiary |
Narita, Chiba |
Japan |
Restaurants and Bars |
|
1,000 |
|
|
|
Subsidiary |
Chiba |
Japan |
Basic Chemical Manufacturing |
|
23 |
|
|
|
Subsidiary |
Hong Kong, Lantau |
Hong Kong |
Air Transportation Services |
|
700 |
|
|
|
Subsidiary |
Singapore |
Singapore |
Food Manufacturing |
|
250 |
|
|
|
Subsidiary |
Singapore |
Singapore |
Laundry Services |
|
90 |
|
|
|
Subsidiary |
Singapore |
Singapore |
Road Transportation Services |
|
10 |
|
|
|
Subsidiary |
Singapore |
Singapore |
Investigation and Security Services |
53.2 |
|
|
|
|
Subsidiary |
El Segundo, CA |
United States |
Airlines |
2.7 |
13,720 |
|
|
|
Subsidiary |
Singapore |
Singapore |
Airlines |
598.3 |
1,117 |
|
|
|
Subsidiary |
Singapore |
Singapore |
Airlines |
2,143.5 |
1,076 |
|
|
|
Subsidiary |
Singapore |
Singapore |
Wireless Telecommunications Carriers |
7.8 |
35 |
|
|
|
Branch |
Frankfurt Am Main, Hessen |
Germany |
Airlines |
|
110 |
|
|
|
Subsidiary |
Shortland Street |
New Zealand |
Airlines |
6.5 |
80 |
|
|
|
Subsidiary |
Singapore |
Singapore |
Travel and Reservation Services |
|
73 |
|
|
|
Subsidiary |
Singapore |
Singapore |
Aircraft Engine and Parts Manufacturing |
5,104.9 |
22,193 |
|
|
|
Subsidiary |
Singapore |
Singapore |
Air Transportation Services |
1,375.5 |
7,323 |
|
|
|
Subsidiary |
Singapore |
Singapore |
Air Transportation Services |
161.0 |
1,300 |
|
|
|
Subsidiary |
Singapore |
Singapore |
Air Transportation Services |
164.5 |
1,050 |
|
|
|
Subsidiary |
Singapore |
Singapore |
Air Transportation Services |
4.5 |
10 |
|
|
|
Subsidiary |
Singapore |
Singapore |
Commercial and Industrial Rental |
4.5 |
8 |
|
|
|
Subsidiary |
Singapore |
Singapore |
Metal Products Manufacturing |
10.6 |
100 |
|
|
|
Subsidiary |
Stansted |
United Kingdom |
Miscellaneous Professional Services |
1.5 |
3 |
|
|
|
Subsidiary |
Singapore |
Singapore |
Aircraft Engine and Parts Manufacturing |
|
|
|
|
|
Subsidiary |
Singapore |
Singapore |
Motor Vehicle Repair and Maintenance |
1,113.9 |
6,574 |
|
|
|
Subsidiary |
Singapore |
Singapore |
Weapons and Ammunition Manufacturing |
130.0 |
359 |
|
|
|
Subsidiary |
Singapore |
Singapore |
Weapons and Ammunition Manufacturing |
2.1 |
20 |
|
|
|
Subsidiary |
Singapore |
Singapore |
Miscellaneous Chemical Manufacturing |
8.6 |
17 |
|
|
|
Subsidiary |
Singapore |
Singapore |
Architecture and Engineering |
|
108 |
|
|
|
Subsidiary |
Singapore |
Singapore |
|
|
60 |
|
|
|
Subsidiary |
Langley, BC |
Canada |
Machinery and Equipment Manufacturing |
13.2 |
50 |
|
|
|
Subsidiary |
Singapore |
Singapore |
Weapons and Ammunition Manufacturing |
|
45 |
|
|
|
Subsidiary |
Singapore |
Singapore |
Electronics Wholesale |
|
20 |
|
|
|
Subsidiary |
Singapore |
Singapore |
Holding Companies |
|
|
|
|
|
Subsidiary |
Singapore |
Singapore |
Architecture and Engineering |
|
|
|
|
|
Subsidiary |
Singapore |
Singapore |
Banking |
|
|
|
|
|
Subsidiary |
Alexandria, VA |
United States |
Architecture and Engineering |
|
6,000 |
|
|
|
Subsidiary |
Mobile, AL |
United States |
Air Transportation Services |
40.5 |
1,300 |
|
|
|
Subsidiary |
Pascagoula, MS |
United States |
Ship and Boat Building |
|
750 |
|
|
|
Branch |
Moss Point, MS |
United States |
Ship and Boat Building |
58.1 |
350 |
|
|
|
Branch |
Moss Point, MS |
United States |
Motor Vehicle and Parts Dealers |
1.6 |
4 |
|
|
|
Subsidiary |
Washington, NC |
United States |
Motor Vehicle Manufacturing |
|
520 |
|
|
|
Division |
Kidron, OH |
United States |
Storage and Warehousing |
43.3 |
500 |
|
|
|
Division |
Washington, NC |
United States |
Motor Vehicle Manufacturing |
|
|
|
|
|
Division |
Washington, NC |
United States |
Motor Vehicle Manufacturing |
48.2 |
500 |
|
|
|
Subsidiary |
Herndon, VA |
United States |
Communications Equipment Manufacturing |
|
460 |
|
|
|
Subsidiary |
Lincolnton, NC |
United States |
Construction Machinery Manufacturing |
|
250 |
|
|
|
Subsidiary |
Hope Hull, AL |
United States |
Computer and Peripheral Equipment Manufacturing |
|
200 |
|
|
|
Branch |
Boulder, CO |
United States |
Computer Programming |
4.7 |
20 |
|
|
|
Subsidiary |
Hope Hull, AL |
United States |
Computer System Design Services |
|
|
|
|
|
Subsidiary |
Hope Hull, AL |
United States |
Research and Development Services |
|
160 |
|
|
|
Subsidiary |
San Antonio, TX |
United States |
Aircraft Engine and Parts Manufacturing |
3.1 |
35 |
|
|
|
Subsidiary |
Alexandria, VA |
United States |
Architecture and Engineering |
1.1 |
14 |
|
|
|
Subsidiary |
Washington, NC |
United States |
Motor Vehicle Parts Manufacturing |
|
10 |
|
|
|
Branch |
Independence, KS |
United States |
Motor Vehicle Parts Manufacturing |
2.7 |
10 |
|
|
|
Branch |
Montgomery, PA |
United States |
Motor Vehicle Parts Manufacturing |
2.7 |
10 |
|
|
|
Subsidiary |
Cambridge, MA |
United States |
Computer Programming |
|
9 |
|
|
|
Subsidiary |
Cambridge, MA |
United States |
Software |
|
|
|
|
|
Subsidiary |
Singapore |
Singapore |
Ship and Boat Building |
291.4 |
937 |
|
|
|
Subsidiary |
Singapore |
Singapore |
Architecture and Engineering |
|
17 |
|
|
|
Subsidiary |
Singapore |
Singapore |
Architecture and Engineering |
|
|
|
|
|
Subsidiary |
Singapore |
Singapore |
Air Transportation Services |
|
360 |
|
|
|
Subsidiary |
Singapore |
Singapore |
Air Transportation Services |
1,470.5 |
300 |
|
|
|
Subsidiary |
Singapore |
Singapore |
Storage and Warehousing |
1,470.5 |
300 |
|
|
|
Subsidiary |
Singapore |
Singapore |
Computer System Design Services |
11.0 |
50 |
|
|
|
Subsidiary |
Paya Lebar |
Singapore |
Electromedical and Control Instruments Manufacturing |
|
300 |
|
|
|
Subsidiary |
Perth, WA |
Australia |
Electromedical and Control Instruments Manufacturing |
|
|
|
|
|
Subsidiary |
Singapore |
Singapore |
Motor Vehicle Wholesale |
|
100 |
|
|
|
Subsidiary |
Singapore |
Singapore |
Machinery and Equipment Manufacturing |
33.5 |
90 |
|
|
|
Subsidiary |
Burlington, WA |
United States |
Aircraft Engine and Parts Manufacturing |
50.8 |
60 |
|
|
|
Branch |
Mt Vernon, WA |
United States |
Electromedical and Control Instruments Manufacturing |
4.9 |
13 |
|
|
|
Subsidiary |
Singapore |
Singapore |
Machinery and Equipment Manufacturing |
|
43 |
|
|
|
Subsidiary |
Singapore |
Singapore |
Motor Vehicle Repair and Maintenance |
|
40 |
|
|
|
Subsidiary |
Singapore |
Singapore |
Architecture and Engineering |
|
25 |
|
|
|
Subsidiary |
Kastrup |
Denmark |
Appliance Repair and Maintenance |
192.6 |
15 |
|
|
|
Subsidiary |
Stansted |
United Kingdom |
Miscellaneous Personal Services |
19.0 |
24 |
|
|
|
Subsidiary |
Singapore |
Singapore |
Motor Vehicle Repair and Maintenance |
|
13 |
|
|
|
Subsidiary |
Singapore |
Singapore |
Computer System Design Services |
|
|
|
|
|
Subsidiary |
Dubai |
United Arab Emirates |
Banking |
|
|
|
|
|
Subsidiary |
Singapore |
Singapore |
Data Processing |
|
|
|
|
|
Subsidiary |
Singapore |
Singapore |
Motor Vehicle Manufacturing |
|
|
|
|
|
Division |
Singapore |
Singapore |
Motor Vehicle Repair and Maintenance |
|
50 |
|
|
|
Subsidiary |
Tokyo |
Japan |
Space Research and Technology |
|
|
|
|
|
Holding |
Singapore |
Singapore |
Wireless Telecommunications Carriers |
14,630.6 |
21,724 |
|
|
|
Subsidiary |
Singapore |
Singapore |
Wireless Telecommunications Carriers |
770.1 |
19,536 |
|
|
|
Subsidiary |
Salisbury South, SA |
Australia |
Wired Telecommunications Carriers |
9,760.4 |
9,653 |
|
|
|
Subsidiary |
Sydney, NSW |
Australia |
Wired Telecommunications Carriers |
|
8,000 |
|
|
|
Subsidiary |
North Ryde, NSW |
Australia |
Software |
269.2 |
800 |
|
|
|
Alpha West Holdings Pty Limited |
Subsidiary |
|
|
|
|
|
|
|
Subsidiary |
West Perth, WA |
Australia |
Wireless Telecommunications Carriers |
8,820.8 |
10,090 |
|
|
|
Subsidiary |
North Ryde, NSW |
Australia |
Wireless Telecommunications Carriers |
5,063.2 |
180 |
|
|
|
Subsidiary |
Richmond, VIC |
Australia |
Wired Telecommunications Carriers |
60.0 |
116 |
|
|
|
Subsidiary |
Sydney, NSW |
Australia |
Wireless Telecommunications Carriers |
|
|
|
|
|
Subsidiary |
Singapore |
Singapore |
Computer System Design Services |
191.9 |
2,400 |
|
|
|
Subsidiary |
Singapore |
Singapore |
Computer System Design Services |
1,167.8 |
1,882 |
|
|
|
Subsidiary |
Singapore |
Singapore |
Architecture and Engineering |
108.3 |
408 |
|
|
|
Subsidiary |
Petaling Jaya |
Malaysia |
Music |
|
300 |
|
|
|
Strateq Systems Sdn. Bhd. |
Subsidiary |
|
|
|
|
|
|
|
Subsidiary |
Petaling Jaya, Selangor |
Malaysia |
Research and Development Services |
0.0 |
|
|
|
|
Subsidiary |
Singapore |
Singapore |
Computer System Design Services |
|
14 |
|
|
|
Subsidiary |
Singapore |
Singapore |
Miscellaneous Professional Services |
4.1 |
10 |
|
|
|
Subsidiary |
Suzhou, Jiangsu |
China |
Computer System Design Services |
38.8 |
|
|
|
|
Subsidiary |
Kuala Lumpur |
Malaysia |
Computer System Design Services |
|
|
|
|
|
Subsidiary |
Bandar Seri Begawan, Negara |
Brunei Darussalam |
Computer System Design Services |
|
|
|
|
|
Subsidiary |
Jakarta |
Indonesia |
Computer System Design Services |
|
|
|
|
|
Ncsi Holdings Pte Ltd |
Subsidiary |
|
|
|
|
|
|
|
Subsidiary |
Quarry Bay, Hong Kong |
Hong Kong |
Computer System Design Services |
23.2 |
150 |
|
|
|
Subsidiary |
Shanghai, Shanghai |
China |
Computer Programming |
|
|
|
|
|
Subsidiary |
Singapore |
Singapore |
Electronics Wholesale |
551.4 |
356 |
|
|
|
Subsidiary |
Redwood City, CA |
United States |
Software |
2.7 |
50 |
|
|
|
Subsidiary |
London |
United Kingdom |
Advertising Services |
23.6 |
35 |
|
|
|
Subsidiary |
London |
United Kingdom |
Miscellaneous Telecommunication Services |
34.5 |
23 |
|
|
|
Subsidiary |
Singapore |
Singapore |
Wireless Telecommunications Carriers |
|
20 |
|
|
|
Subsidiary |
Singapore |
Singapore |
Holding Companies |
7.4 |
18 |
|
|
|
Subsidiary |
Petaling Jaya, Selangor Darul Ehsan |
Malaysia |
Wired Telecommunications Carriers |
|
80 |
|
|
|
Subsidiary |
London |
United Kingdom |
Cable and Other Program Distribution |
|
55 |
|
|
|
Subsidiary |
Tokyo |
Japan |
Wired Telecommunications Carriers |
|
30 |
|
|
|
Subsidiary |
Kowloon |
Hong Kong |
Wired Telecommunications Carriers |
|
25 |
|
|
|
Subsidiary |
Taipei |
Taiwan |
Wired Telecommunications Carriers |
|
17 |
|
|
|
Subsidiary |
Mumbai |
India |
Cable and Other Program Distribution |
|
15 |
|
|
|
Subsidiary |
Seoul |
Korea, Republic of |
Cable and Other Program Distribution |
|
14 |
|
|
|
Subsidiary |
Shanghai |
China |
Cable and Other Program Distribution |
|
13 |
|
|
|
Subsidiary |
Beijing |
China |
Wired Telecommunications Carriers |
|
10 |
|
|
|
Subsidiary |
Mumbai |
India |
Wired Telecommunications Carriers |
|
10 |
|
|
|
Subsidiary |
Makati, Metro Manila |
Philippines |
Cable and Other Program Distribution |
0.1 |
6 |
|
|
|
Subsidiary |
Jakarta |
Indonesia |
Wired Telecommunications Carriers |
|
5 |
|
|
|
Subsidiary |
Bangkok |
Thailand |
Wired Telecommunications Carriers |
|
5 |
|
|
|
Subsidiary |
Stamford, CT |
United States |
Consulting Services |
0.7 |
3 |
|
|
|
Division |
Redwood City, CA |
United States |
Securities |
5.6 |
25 |
|
|
|
Subsidiary |
Hanoi |
Viet Nam |
Wired Telecommunications Carriers |
|
3 |
|
|
|
Subsidiary |
Sydney, NSW |
Australia |
Wired Telecommunications Carriers |
|
|
|
|
|
Subsidiary |
Singapore |
Singapore |
Specialty Construction Trade Contractors |
2.4 |
11 |
|
|
|
Subsidiary |
Singapore |
Singapore |
Internet and Web Services |
454.2 |
|
|
|
|
Subsidiary |
Singapore |
Singapore |
Holding Companies |
159.5 |
|
|
|
|
Subsidiary |
Singapore |
Singapore |
Miscellaneous Professional Services |
1,759.0 |
|
|
|
|
Subsidiary |
Colombo |
Sri Lanka |
Wireless Telecommunications Carriers |
|
|
|
|
|
Subsidiary |
Amsterdam, North Holland |
Netherlands |
Banking |
|
|
|
|
|
Branch |
South Jakarta, Jakarta |
Indonesia |
Consulting Services |
|
|
|
|
|
Subsidiary |
Singapore |
Singapore |
Communications Equipment Manufacturing |
|
|
|
|
|
Subsidiary |
Singapore |
Singapore |
Computer System Design Services |
|
|
|
|
|
Subsidiary |
Singapore |
Singapore |
Miscellaneous Professional Services |
|
29 |
|
|
|
Subsidiary |
Singapore |
Singapore |
Holding Companies |
|
|
|
|
|
Subsidiary |
Singapore |
Singapore |
Investment Services |
|
10 |
|
|
|
Singtel Australia Investment Ltd |
Subsidiary |
|
|
|
|
|
|
|
Singapore Telecom Australia Investments
Pty Limited |
Subsidiary |
|
|
|
|
|
|
|
Singtel Optus Pty Limited |
Subsidiary |
|
|
|
|
|
|
|
Holding |
Singapore |
Singapore |
Holding Companies |
2,062.9 |
13,500 |
|
|
|
Subsidiary |
Dublin |
Ireland |
Wired Telecommunications Carriers |
2,026.2 |
5,607 |
|
|
|
Subsidiary |
Dublin |
Ireland |
Employment Services |
|
88 |
|
|
|
Subsidiary |
Dublin |
Ireland |
Broadcasting and Media |
46.5 |
15 |
|
|
|
Subsidiary |
Dublin |
Ireland |
Miscellaneous Telecommunication Services |
2.3 |
|
|
|
|
Subsidiary |
Dublin |
Ireland |
Miscellaneous Telecommunication Services |
|
|
|
|
|
Subsidiary |
Dublin |
Ireland |
Miscellaneous Professional Services |
|
|
|
|
|
Subsidiary |
Dublin |
Ireland |
Residential and Commercial Building Construction |
|
|
|
|
|
Subsidiary |
Dublin |
Ireland |
Residential and Commercial Building Construction |
3.2 |
|
|
|
|
Subsidiary |
Dublin |
Ireland |
Pensions and Funds |
|
|
|
|
|
Subsidiary |
London |
United Kingdom |
Miscellaneous Telecommunication Services |
53.0 |
47 |
|
|
|
Subsidiary |
Dublin |
Ireland |
Miscellaneous Professional Services |
|
|
|
|
|
Subsidiary |
Singapore |
Singapore |
Wired Telecommunications Carriers |
2,062.9 |
80 |
|
|
|
Subsidiary |
Singapore |
Singapore |
Wireless Telecommunications Carriers |
7.1 |
30 |
|
|
|
Subsidiary |
Singapore |
Singapore |
Wired Telecommunications Carriers |
1,837.9 |
|
|
|
|
Subsidiary |
Singapore |
Singapore |
Shipping and Water Transport |
9,511.6 |
11,995 |
|
|
|
Subsidiary |
Singapore |
Singapore |
Shipping and Water Transport |
7,676.4 |
5,000 |
|
|
|
Subsidiary |
Scottsdale, AZ |
United States |
Shipping and Water Transportation Services |
1,195.5 |
4,000 |
|
|
|
Subsidiary |
Scottsdale, AZ |
United States |
Road Transportation Services |
|
4,000 |
|
|
|
Unit |
Kowloon |
Hong Kong |
Travel and Reservation Services |
|
230 |
|
|
|
Unit |
Singapore |
Singapore |
Travel and Reservation Services |
287.7 |
207 |
|
|
|
Subsidiary |
Istanbul (Europe) |
Turkey |
Travel and Reservation Services |
2.0 |
39 |
|
|
|
Subsidiary |
Rhoon, Zuid-Holland |
Netherlands |
Data Processing |
67.3 |
|
|
|
|
Subsidiary |
Hamburg, Hamburg |
Germany |
Miscellaneous Transportation Services |
27.0 |
64 |
|
|
|
Branch |
Englewood, CO |
United States |
Mass Transit and Ground Passenger Transportation |
6.9 |
100 |
|
|
|
Branch |
Union, NJ |
United States |
Mass Transit and Ground Passenger Transportation |
14.2 |
65 |
|
|
|
Unit |
Sydney, NSW |
Australia |
Travel and Reservation Services |
|
60 |
|
|
|
Branch |
City Of Industry, CA |
United States |
Consulting Services |
10.9 |
50 |
|
|
|
Branch |
Pleasant Prairie, WI |
United States |
Storage and Warehousing |
2.5 |
14 |
|
|
|
Branch |
Farmington Hills, MI |
United States |
Mass Transit and Ground Passenger Transportation |
2.3 |
14 |
|
|
|
Branch |
Oakland, CA |
United States |
Railroad Transportation Services |
1.3 |
6 |
|
|
|
Branch |
Carson, CA |
United States |
Railroad Transportation Services |
1.3 |
6 |
|
|
|
Branch |
Washington, DC |
United States |
Mass Transit and Ground Passenger Transportation |
0.5 |
6 |
|
|
|
Branch |
Irvine, CA |
United States |
Mass Transit and Ground Passenger Transportation |
0.4 |
5 |
|
|
|
Branch |
Atlanta, GA |
United States |
Mass Transit and Ground Passenger Transportation |
0.4 |
5 |
|
|
|
Branch |
Seattle, WA |
United States |
Mass Transit and Ground Passenger Transportation |
0.4 |
5 |
|
|
|
Branch |
Seattle, WA |
United States |
Mass Transit and Ground Passenger Transportation |
0.4 |
5 |
|
|
|
Branch |
Charlotte, NC |
United States |
Mass Transit and Ground Passenger Transportation |
0.1 |
1 |
|
|
|
Branch |
Minneapolis, MN |
United States |
Mass Transit and Ground Passenger Transportation |
0.1 |
1 |
|
|
|
Unit |
Dubai |
United Arab Emirates |
Travel and Reservation Services |
|
|
|
|
|
Unit |
Mexico, Tultilan |
Mexico |
Travel and Reservation Services |
|
|
|
|
|
Unit |
Ho Chi Minh City |
Viet Nam |
Travel and Reservation Services |
|
|
|
|
|
Unit |
Shanghai |
China |
Travel and Reservation Services |
|
|
|
|
|
Unit |
San Pedro Sula, Cortes |
Honduras |
Travel and Reservation Services |
|
|
|
|
|
Unit |
Chittagong |
Bangladesh |
Travel and Reservation Services |
|
|
|
|
|
Unit |
Phnom Penh |
Cambodia |
Travel and Reservation Services |
|
|
|
|
|
Unit |
Jakarta |
Indonesia |
Travel and Reservation Services |
|
|
|
|
|
Unit |
Uxbridge |
United Kingdom |
Travel and Reservation Services |
|
|
|
|
|
Subsidiary |
London |
United Kingdom |
Travel and Reservation Services |
|
150 |
|
|
|
Unit |
Bangkok |
Thailand |
Travel and Reservation Services |
|
|
|
|
|
Unit |
Shah Alam |
Malaysia |
Travel and Reservation Services |
|
|
|
|
|
Subsidiary |
Singapore |
Singapore |
Road Transportation Services |
4,440.2 |
800 |
|
|
|
Branch |
Hodgkins, IL |
United States |
Consulting Services |
42.1 |
180 |
|
|
|
Subsidiary |
Bethesda, MD |
United States |
Shipping and Water Transport |
|
102 |
|
|
|
Subsidiary |
Bethesda, MD |
United States |
Shipping and Water Transport |
1.7 |
116 |
|
|
|
Subsidiary |
Bethesda, MD |
United States |
Shipping and Water Transport |
0.8 |
20 |
|
|
|
Branch |
Woodridge, IL |
United States |
Mass Transit and Ground Passenger Transportation |
23.4 |
100 |
|
|
|
Branch |
Trenton, NJ |
United States |
Railroad Transportation Services |
16.3 |
75 |
|
|
|
Joint Venture |
Georgetown, KY |
United States |
Department Stores |
0.9 |
75 |
|
|
|
Subsidiary |
Ciudad De Mexico, Distrito Federal |
Mexico |
Consulting Services |
1.2 |
7 |
|
|
|
Branch |
Romeoville, IL |
United States |
Mass Transit and Ground Passenger Transportation |
10.3 |
44 |
|
|
|
Branch |
Lawrenceville, GA |
United States |
Consulting Services |
5.6 |
25 |
|
|
|
Branch |
La Vergne, TN |
United States |
Road Transportation Services |
4.4 |
25 |
|
|
|
Branch |
Goose Creek, SC |
United States |
Railroad Transportation Services |
3.8 |
22 |
|
|
|
Branch |
Long Beach, CA |
United States |
Railroad Transport |
7.7 |
20 |
|
|
|
Branch |
Dutch Harbor, AK |
United States |
Shipping and Water Transport |
4.4 |
20 |
|
|
|
Branch |
Atlanta, GA |
United States |
Road Transportation Services |
3.1 |
14 |
|
|
|
Branch |
Rancho Cucamonga, CA |
United States |
Storage and Warehousing |
2.2 |
10 |
|
|
|
Branch |
Normal, IL |
United States |
Consulting Services |
1.4 |
6 |
|
|
|
Branch |
Chicago, IL |
United States |
Commercial Real Estate Leasing |
1.4 |
6 |
|
|
|
Branch |
Kearny, NJ |
United States |
Trucking |
1.3 |
6 |
|
|
|
Branch |
Kearny, NJ |
United States |
Trucking |
1.3 |
6 |
|
|
|
Branch |
Wilmington, NC |
United States |
Travel and Reservation Services |
1.2 |
6 |
|
|
|
Branch |
El Paso, TX |
United States |
Railroad Transportation Services |
1.2 |
5 |
|
|
|
Branch |
Shepherdsville, KY |
United States |
Civil Engineering |
0.9 |
5 |
|
|
|
Branch |
Brentwood, TN |
United States |
Consulting Services |
0.9 |
5 |
|
|
|
Branch |
Mt Pleasant, SC |
United States |
Travel and Reservation Services |
0.9 |
5 |
|
|
|
Branch |
Indianapolis, IN |
United States |
Consulting Services |
0.9 |
5 |
|
|
|
Branch |
Savannah, GA |
United States |
Mass Transit and Ground Passenger Transportation |
0.4 |
5 |
|
|
|
Branch |
Memphis, TN |
United States |
Consulting Services |
0.7 |
4 |
|
|
|
Branch |
Coloma, MI |
United States |
Consulting Services |
0.6 |
4 |
|
|
|
Branch |
Laredo, TX |
United States |
Railroad Transport |
0.7 |
3 |
|
|
|
Branch |
Kodiak, AK |
United States |
Travel and Reservation Services |
0.4 |
2 |
|
|
|
Branch |
Aurora, IL |
United States |
Railroad Transportation Services |
0.2 |
1 |
|
|
|
Branch |
Plainfield, IL |
United States |
Travel and Reservation Services |
0.2 |
1 |
|
|
|
Subsidiary |
Ciudad De Mexico, Distrito Federal |
Mexico |
Trucking |
146.7 |
|
|
|
|
Subsidiary |
Bremen, Bremen |
Germany |
Miscellaneous Telecommunication Services |
|
103 |
|
|
|
Subsidiary |
Gdynia |
Poland |
Shipping and Water Transport |
25.1 |
10 |
|
|
|
Subsidiary |
St. Petersburg |
Russian Federation |
Travel and Reservation Services |
5.0 |
|
|
|
|
Subsidiary |
Genova, Genova |
Italy |
Miscellaneous Telecommunication Services |
2.5 |
14 |
|
|
|
Branch |
Kowloon Bay, Kowloon |
Hong Kong |
Road Transportation Services |
5,439.3 |
|
|
|
|
Subsidiary |
Singapore |
Singapore |
Consulting Services |
|
900 |
|
|
|
Subsidiary |
Los Angeles, CA |
United States |
Road Transportation Services |
|
250 |
|
|
|
Branch |
Valley Stream, NY |
United States |
Consulting Services |
9.0 |
33 |
|
|
|
Branch |
Compton, CA |
United States |
Consulting Services |
3.8 |
18 |
|
|
|
Branch |
Savannah, GA |
United States |
Consulting Services |
2.2 |
10 |
|
|
|
Branch |
S San Francisco, CA |
United States |
Consulting Services |
2.1 |
10 |
|
|
|
Branch |
Memphis, TN |
United States |
Consulting Services |
1.5 |
9 |
|
|
|
Branch |
Seattle, WA |
United States |
Consulting Services |
1.7 |
8 |
|
|
|
Branch |
Bensenville, IL |
United States |
Consulting Services |
1.6 |
7 |
|
|
|
Branch |
College Park, GA |
United States |
Consulting Services |
1.5 |
7 |
|
|
|
Branch |
Chelsea, MA |
United States |
Consulting Services |
1.6 |
6 |
|
|
|
Branch |
Elmont, NY |
United States |
Consulting Services |
1.4 |
5 |
|
|
|
Branch |
Elmont, NY |
United States |
Consulting Services |
1.1 |
4 |
|
|
|
Branch |
Miami, FL |
United States |
Consulting Services |
0.6 |
3 |
|
|
|
Subsidiary |
Rhoon, Zuid-Holland |
Netherlands |
Data Processing |
|
106 |
|
|
|
Subsidiary |
København |
Denmark |
Shipping and Water Transport |
1.2 |
13 |
|
|
|
Subsidiary |
Helsinki |
Finland |
Miscellaneous Transportation Services |
1.6 |
8 |
|
|
|
Subsidiary |
Hamburg, Hamburg |
Germany |
Miscellaneous Transportation Services |
|
|
|
|
|
Subsidiary |
Singapore |
Singapore |
Semiconductor and Other Electronic Component Manufacturing |
1,701.5 |
10,429 |
|
|
|
Subsidiary |
Fremont, CA |
United States |
Electronics Wholesale |
769.1 |
14,873 |
|
|
|
Branch |
Austin, TX |
United States |
Electronics Wholesale |
18.2 |
7 |
|
|
|
Branch |
San Diego, CA |
United States |
Electronics Wholesale |
18.0 |
7 |
|
|
|
Branch |
Austin, TX |
United States |
Electronics Wholesale |
10.4 |
4 |
|
|
|
Branch |
Irvine, CA |
United States |
Electronics Wholesale |
10.3 |
4 |
|
|
|
Subsidiary |
Shanghai |
China |
Semiconductor and Other Electronic Component Manufacturing |
|
4,000 |
|
|
|
Subsidiary |
Icheon, Gyeonggi-do |
Korea, Republic of |
Semiconductor and Other Electronic Component Manufacturing |
412.0 |
2,550 |
|
|
|
Subsidiary |
Kuala Lumpur |
Malaysia |
Semiconductor and Other Electronic Component Manufacturing |
|
1,500 |
|
|
|
Subsidiary |
Cyonglin |
Taiwan |
Architecture and Engineering |
43.0 |
299 |
|
|
|
Subsidiary |
Milpitas, CA |
United States |
Architecture and Engineering |
|
140 |
|
|
|
Subsidiary |
Shanghai |
China |
Machinery and Equipment Manufacturing |
|
52 |
|
|
|
Subsidiary |
Tempe, AZ |
United States |
Semiconductor and Other Electronic Component Manufacturing |
105.2 |
30 |
|
|
|
Subsidiary |
Milpitas, CA |
United States |
Semiconductor and Other Electronic Component Manufacturing |
|
25 |
|
|
|
Subsidiary |
Southborough, MA |
United States |
Semiconductor and Other Electronic Component Manufacturing |
5.7 |
13 |
|
|
|
Subsidiary |
Road Town |
Virgin Islands (British) |
Holding Companies |
|
|
|
|
|
Subsidiary |
Hsin-chu |
Taiwan |
Semiconductor and Other Electronic Component Manufacturing |
|
|
|
|
|
Subsidiary |
Shanghai |
China |
Semiconductor and Other Electronic Component Manufacturing |
|
|
|
|
|
Subsidiary |
Singapore |
Singapore |
Holding Companies |
3,429.0 |
9,000 |
|
|
|
Subsidiary |
Singapore |
Singapore |
Shipping and Water Transportation Services |
1,780.2 |
4,761 |
|
|
|
Subsidiary |
Singapore |
Singapore |
Consulting Services |
4,318.5 |
5,687 |
|
|
|
Subsidiary |
Singapore |
Singapore |
Architecture and Engineering |
65.7 |
800 |
|
|
|
Subsidiary |
Singapore |
Singapore |
Administrative Services |
53.5 |
400 |
|
|
|
Subsidiary |
Singapore |
Singapore |
Commercial Real Estate Leasing |
|
200 |
|
|
|
Subsidiary |
Singapore |
Singapore |
Storage and Warehousing |
10.6 |
70 |
|
|
|
Subsidiary |
Singapore |
Singapore |
Storage and Warehousing |
47.6 |
150 |
|
|
|
Subsidiary |
Singapore |
Singapore |
Road Transportation Services |
9.3 |
20 |
|
|
|
Subsidiary |
Singapore |
Singapore |
Miscellaneous Transportation Services |
196.2 |
116 |
|
|
|
Subsidiary |
Singapore |
Singapore |
Storage and Warehousing |
0.7 |
20 |
|
|
|
Subsidiary |
Singapore |
Singapore |
Road Transportation Services |
15.1 |
|
|
|
|
Subsidiary |
Shanghai, Shanghai |
China |
Administrative Services |
1.9 |
|
|
|
|
Subsidiary |
Tanjong Penjuru |
Singapore |
Commercial Real Estate Leasing |
|
|
|
|
|
Subsidiary |
Singapore |
Singapore |
Storage and Warehousing |
3.8 |
50 |
|
|
|
Subsidiary |
Singapore |
Singapore |
Storage and Warehousing |
|
22 |
|
|
|
Subsidiary |
Singapore |
Singapore |
Miscellaneous Wholesale |
2.6 |
10 |
|
|
|
Subsidiary |
Singapore |
Singapore |
Holding Companies |
2.3 |
|
|
|
|
Subsidiary |
Singapore |
Singapore |
Holding Companies |
|
|
|
|
|
Subsidiary |
Singapore |
Singapore |
Road Transportation Services |
|
4 |
|
|
|
Capital Brokers Holdings Pte. Ltd. |
Subsidiary |
|
|
|
|
|
|
|
Subsidiary |
Amsterdam, Noord-Holland |
Netherlands |
Banking |
|
|
|
|
|
Subsidiary |
Amsterdam, Noord-Holland |
Netherlands |
Trucking |
|
25 |
|
|
|
Subsidiary |
Singapore |
Singapore |
Specialty Construction Trade Contractors |
|
|
|
|
|
Subsidiary |
Singapore |
Singapore |
Machinery and Equipment Manufacturing |
|
|
|
|
|
Subsidiary |
Zug |
Switzerland |
Metals and Minerals Wholesale |
|
|
|
|
|
Subsidiary |
London |
United Kingdom |
Metals and Minerals Wholesale |
477.6 |
29 |
|
|
|
Subsidiary |
Singapore |
Singapore |
Shipping and Water Transport |
231.5 |
1,000 |
|
|
|
Subsidiary |
Singapore |
Singapore |
Shipping and Water Transportation Services |
6.5 |
6 |
|
|
|
Subsidiary |
Antwerpen |
Belgium |
Shipping and Water Transportation Services |
275.2 |
310 |
|
|
|
Subsidiary |
Antwerpen |
Belgium |
Miscellaneous Transportation Services |
13.9 |
|
|
|
|
Subsidiary |
Antwerpen |
Belgium |
Computer System Design Services |
8.4 |
|
|
|
|
Subsidiary |
Antwerpen |
Belgium |
Miscellaneous Transportation Services |
3.0 |
|
|
|
|
Subsidiary |
Antwerpen |
Belgium |
Miscellaneous Repair and Maintenance |
0.0 |
|
|
|
|
Subsidiary |
Antwerpen |
Belgium |
Miscellaneous Transportation Services |
0.0 |
|
|
|
|
Subsidiary |
Antwerpen |
Belgium |
Miscellaneous Transportation Services |
0.0 |
|
|
|
|
Subsidiary |
Singapore |
Singapore |
Shipping and Water Transport |
53.4 |
|
|
|
|
Subsidiary |
Sines, Sines |
Portugal |
Shipping and Water Transport |
40.7 |
107 |
|
|
|
Laborsines
- Empresa De Trabalho Portuário, Unipessoal, LDA |
Subsidiary |
Sines, Sines |
Portugal |
Employment Services |
5.1 |
185 |
|
|
Holding |
Singapore |
Singapore |
Investigation and Security Services |
|
9,000 |
|
|
|
Subsidiary |
Singapore |
Singapore |
Investigation and Security Services |
25.6 |
8,000 |
|
|
|
Subsidiary |
Singapore |
Singapore |
Investigation and Security Services |
42.9 |
5,000 |
|
|
|
Subsidiary |
Singapore |
Singapore |
Investigation and Security Services |
414.4 |
|
|
|
|
Subsidiary |
Singapore |
Singapore |
Holding Companies |
0.0 |
|
|
|
|
Subsidiary |
Singapore |
Singapore |
Investigation and Security Services |
|
|
|
|
|
Subsidiary |
Singapore |
Singapore |
Electronics Wholesale |
4.0 |
6,000 |
|
|
|
Subsidiary |
Singapore |
Singapore |
Investigation and Security Services |
1.9 |
|
|
|
|
Subsidiary |
Singapore |
Singapore |
Miscellaneous Educational Services |
|
70 |
|
|
|
Holding |
Singapore |
Singapore |
Railroad Transport |
900.8 |
7,482 |
|
|
|
Subsidiary |
Singapore |
Singapore |
Mass Transit and Ground Passenger Transportation |
530.5 |
2,642 |
|
|
|
Subsidiary |
Singapore |
Singapore |
Mass Transit and Ground Passenger Transportation |
|
|
|
|
|
Subsidiary |
Singapore |
Singapore |
Mass Transit and Ground Passenger Transportation |
|
|
|
|
|
Subsidiary |
Singapore |
Singapore |
Mass Transit and Ground Passenger Transportation |
|
2,600 |
|
|
|
Subsidiary |
Singapore |
Singapore |
Mass Transit and Ground Passenger Transportation |
166.9 |
1,838 |
|
|
|
Subsidiary |
Singapore |
Singapore |
Motor Vehicle Repair and Maintenance |
75.4 |
450 |
|
|
|
Subsidiary |
Singapore |
Singapore |
Mass Transit and Ground Passenger Transportation |
|
|
|
|
|
Subsidiary |
Singapore |
Singapore |
Architecture and Engineering |
|
|
|
|
|
Subsidiary |
Singapore |
Singapore |
Miscellaneous Educational Services |
|
|
|
|
|
Subsidiary |
Singapore |
Singapore |
Holding Companies |
|
|
|
|
|
Subsidiary |
Singapore |
Singapore |
Architecture and Engineering |
|
|
|
|
|
Subsidiary |
Singapore |
Singapore |
Pensions and Funds |
|
|
|
|
|
Subsidiary |
Singapore |
Singapore |
Holding Companies |
|
|
|
|
|
Subsidiary |
Singapore |
Singapore |
Electricity Generation and Distribution |
6,907.9 |
6,866 |
|
|
|
Subsidiary |
Singapore |
Singapore |
Electricity Generation and Distribution |
131.7 |
1,500 |
|
|
|
Subsidiary |
Mount Waverley, VIC |
Australia |
Civil Engineering |
1,871.7 |
1,300 |
|
|
|
Subsidiary |
Singapore |
Singapore |
Miscellaneous Professional Services |
3,099.2 |
645 |
|
|
|
Subsidiary |
Singapore |
Singapore |
Pipeline Transportation |
122.7 |
237 |
|
|
|
Subsidiary |
Singapore |
Singapore |
Petroleum and Natural Gas Extraction |
|
|
|
|
|
Subsidiary |
Singapore |
Singapore |
Holding Companies |
128.0 |
53 |
|
|
|
Subsidiary |
Melbourne, VIC |
Australia |
Electricity Generation and Distribution |
1,691.0 |
1,500 |
|
|
|
Spi Australia Group Pty Ltd |
Subsidiary |
|
|
|
|
|
|
|
Subsidiary |
London |
United Kingdom |
Holding Companies |
0.0 |
|
|
|
|
Subsidiary |
London |
United Kingdom |
Holding Companies |
|
|
|
|
|
Spi Australia Holdings (Agp) Pty Ltd |
Subsidiary |
|
|
|
|
|
|
|
Spi Electricity & Gas Australia
Holdings Pty Ltd |
Subsidiary |
|
|
|
|
|
|
|
Spi (No.9) Pty Ltd |
Subsidiary |
|
|
|
|
|
|
|
Spi Electricity Pty Ltd |
Subsidiary |
|
|
|
|
|
|
|
Subsidiary |
Singapore |
Singapore |
Electrical Equipment and Appliances Manufacturing |
24.9 |
100 |
|
|
|
Subsidiary |
Singapore |
Singapore |
Machinery and Equipment Manufacturing |
2.4 |
40 |
|
|
|
Subsidiary |
Singapore |
Singapore |
Electricity Generation and Distribution |
993.3 |
|
|
|
|
Subsidiary |
Singapore |
Singapore |
Computer System Design Services |
1,047.9 |
4,987 |
|
|
|
Subsidiary |
Singapore |
Singapore |
Computer System Design Services |
196.6 |
490 |
|
|
|
Subsidiary |
Singapore |
Singapore |
Specialty Construction Trade Contractors |
17.3 |
100 |
|
|
|
Subsidiary |
Singapore |
Singapore |
Semiconductor and Other Electronic Component Manufacturing |
106.5 |
440 |
|
|
|
Subsidiary |
Singapore |
Singapore |
Electronics Wholesale |
18.6 |
30 |
|
|
|
Subsidiary |
Chengdu |
China |
Computer and Peripheral Equipment Manufacturing |
|
|
|
|
|
Subsidiary |
Shanghai |
China |
Computer System Design Services |
|
|
|
|
|
Subsidiary |
Petaling Jaya, Selangor |
Malaysia |
Computer System Design Services |
|
|
|
|
|
Subsidiary |
Taipei |
Taiwan |
Computer System Design Services |
|
|
|
|
|
Subsidiary |
Singapore |
Singapore |
Broadcasting and Media |
501.6 |
2,800 |
|
|
|
Subsidiary |
Singapore |
Singapore |
Publishing |
|
100 |
|
|
|
Subsidiary |
Singapore |
Singapore |
Wired Telecommunications Carriers |
22.8 |
70 |
|
|
|
Subsidiary |
Singapore |
Singapore |
Broadcasting and Media |
186.5 |
|
|
|
|
Subsidiary |
Karachi |
Pakistan |
Banking |
56.3 |
2,475 |
|
|
|
Subsidiary |
Singapore |
Singapore |
Architecture and Engineering |
514.2 |
2,212 |
|
|
|
Subsidiary |
Singapore |
Singapore |
Aircraft Engine and Parts Manufacturing |
|
1,500 |
|
|
|
Subsidiary |
Suzhou, Jiangsu |
China |
Aircraft Engine and Parts Manufacturing |
43.0 |
300 |
|
|
|
Subsidiary |
Bad Tölz, Bayern |
Germany |
Electrical Equipment and Appliances Manufacturing |
41.1 |
150 |
|
|
|
Subsidiary |
Nördlingen, Bayern |
Germany |
Machinery and Equipment Manufacturing |
13.0 |
82 |
|
|
|
Subsidiary |
Rosenheim, Bayern |
Germany |
Machinery and Equipment Manufacturing |
14.7 |
80 |
|
|
|
Subsidiary |
Singapore |
Singapore |
Machinery Wholesale |
|
5 |
|
|
|
Subsidiary |
Singapore |
Singapore |
Associations and Organizations |
|
|
|
|
|
Subsidiary |
Singapore |
Singapore |
Machinery and Equipment Manufacturing |
8.4 |
200 |
|
|
|
Holding |
Singapore |
Singapore |
Real Estate Agents and Brokers |
457.8 |
1,505 |
|
|
|
Subsidiary |
Singapore |
Singapore |
Holding Companies |
96.7 |
|
|
|
|
Subsidiary |
Singapore |
Singapore |
Miscellaneous Amusement and Recreation |
|
300 |
|
|
|
Subsidiary |
Singapore |
Singapore |
Commercial Real Estate Leasing |
27.6 |
11 |
|
|
|
Subsidiary |
Singapore |
Singapore |
Civil Engineering |
55.8 |
|
|
|
|
Subsidiary |
Singapore |
Singapore |
Holding Companies |
0.0 |
|
|
|
|
Subsidiary |
Singapore |
Singapore |
Pensions and Funds |
0.1 |
|
|
|
|
Subsidiary |
Singapore |
Singapore |
Pensions and Funds |
4.6 |
300 |
|
|
|
Subsidiary |
Singapore |
Singapore |
Pensions and Funds |
247.7 |
70 |
|
|
|
Subsidiary |
Singapore |
Singapore |
Pensions and Funds |
149.3 |
|
|
|
|
Mapletree Property Services Pte. Ltd. |
Subsidiary |
|
|
|
|
|
|
|
Subsidiary |
Singapore |
Singapore |
Real Estate Agents and Brokers |
5.6 |
|
|
|
|
Subsidiary |
Singapore |
Singapore |
Museums and Historical Sites |
90.3 |
941 |
|
|
|
Subsidiary |
Singapore |
Singapore |
Miscellaneous Amusement and Recreation |
18.4 |
550 |
|
|
|
Subsidiary |
Penang |
Malaysia |
Metal Products Manufacturing |
124.0 |
704 |
|
|
|
Subsidiary |
Bayan Lepas, Pulau Pinang |
Malaysia |
Machinery and Equipment Manufacturing |
71.5 |
250 |
|
|
|
Sam Precision (M) Sdn. Bhd. |
Subsidiary |
|
|
|
|
|
|
|
Subsidiary |
Singapore |
Singapore |
Consulting Services |
0.4 |
5 |
|
|
|
Subsidiary |
Singapore |
Singapore |
Computer System Design Services |
250.0 |
692 |
|
|
|
Subsidiary |
Singapore |
Singapore |
Computer System Design Services |
|
|
|
|
|
Subsidiary |
Singapore |
Singapore |
|
|
7 |
|
|
|
Holding |
Singapore |
Singapore |
Communications Equipment Manufacturing |
384.8 |
305 |
|
|
|
Subsidiary |
Singapore |
Singapore |
Semiconductor and Other Electronic Component Manufacturing |
2.4 |
100 |
|
|
|
Subsidiary |
Singapore |
Singapore |
Wired Telecommunications Carriers |
14.4 |
100 |
|
|
|
Subsidiary |
Singapore |
Singapore |
Electronics Wholesale |
|
63 |
|
|
|
Subsidiary |
Singapore |
Singapore |
Electronics Wholesale |
35.1 |
30 |
|
|
|
Subsidiary |
Singapore |
Singapore |
Residential and Commercial Building Construction |
12.4 |
30 |
|
|
|
Subsidiary |
Singapore |
Singapore |
Computer, Office Equipment and Software Merchant
Wholesalers |
51.5 |
|
|
|
|
Subsidiary |
Singapore |
Singapore |
Holding Companies |
5,104.9 |
85 |
|
|
|
Subsidiary |
Holon |
Israel |
Synthetic Chemical Manufacturing |
|
|
|
|
|
Subsidiary |
Bangkok |
Thailand |
Wireless Telecommunications Carriers |
274.9 |
64 |
|
|
|
Subsidiary |
Bangkok |
Thailand |
Broadcasting and Media |
1.2 |
10 |
|
|
|
Subsidiary |
Singapore |
Singapore |
Miscellaneous Educational Services |
|
20 |
|
|
|
Subsidiary |
Singapore |
Singapore |
Administrative Services |
|
70 |
|
|
|
Subsidiary |
Singapore |
Singapore |
Computer System Design Services |
13.5 |
50 |
|
|
|
Subsidiary |
Singapore |
Singapore |
Storage and Warehousing |
4.8 |
25 |
|
|
|
Subsidiary |
Singapore |
Singapore |
Pipeline Transportation |
2,586.3 |
15 |
|
|
|
Subsidiary |
Admiralty, Hong Kong |
Hong Kong |
Investment Services |
|
12 |
|
|
|
Subsidiary |
Singapore |
Singapore |
Holding Companies |
2,798.4 |
|
|
|
|
Subsidiary |
Singapore |
Singapore |
Holding Companies |
2,798.4 |
|
|
|
|
Subsidiary |
Singapore |
Singapore |
Miscellaneous Professional Services |
70.3 |
|
|
|
|
Subsidiary |
Singapore |
Singapore |
Holding Companies |
2,285.1 |
|
|
|
|
Subsidiary |
Singapore |
Singapore |
Investigation and Security Services |
103.1 |
2,222 |
|
|
|
Subsidiary |
Singapore |
Singapore |
Investigation and Security Services |
11.1 |
|
|
|
|
Subsidiary |
Singapore |
Singapore |
Pensions and Funds |
302.0 |
|
|
|
|
Subsidiary |
Singapore |
Singapore |
Consulting Services |
91.6 |
|
|
|
|
Subsidiary |
Singapore |
Singapore |
Holding Companies |
358.8 |
|
|
|
|
Subsidiary |
Singapore |
Singapore |
Miscellaneous Professional Services |
|
360 |
|
|
|
Subsidiary |
Singapore |
Singapore |
Consulting Services |
94.5 |
|
|
|
|
Subsidiary |
Singapore |
Singapore |
Electrical Equipment and Appliances Manufacturing |
67.5 |
|
|
|
|
Subsidiary |
Singapore |
Singapore |
Miscellaneous Educational Services |
13.6 |
59 |
|
|
|
Subsidiary |
Singapore |
Singapore |
Miscellaneous Educational Services |
0.7 |
11 |
|
|
|
Subsidiary |
Singapore |
Singapore |
Data Processing |
|
|
|
|
|
Subsidiary |
Singapore |
Singapore |
Pensions and Funds |
0.0 |
|
|
|
|
Subsidiary |
Singapore |
Singapore |
Holding Companies |
0.0 |
|
|
|
|
Holding |
Singapore |
Singapore |
Holding Companies |
|
|
|
|
|
Subsidiary |
Singapore |
Singapore |
Holding Companies |
|
|
|
|
|
Subsidiary |
Singapore |
Singapore |
Pensions and Funds |
|
3 |
|
|
|
Fullerton (Private) Limited |
Subsidiary |
|
|
|
|
|
|
|
Subsidiary |
Singapore |
Singapore |
Holding Companies |
1.4 |
|
|
|
|
Subsidiary |
Singapore |
Singapore |
Holding Companies |
3,454.1 |
21,876 |
|
|
|
Subsidiary |
Singapore |
Singapore |
Hospitals |
1,668.1 |
13,592 |
|
|
|
Subsidiary |
Singapore |
Singapore |
Hospitals |
854.7 |
8,244 |
|
|
|
Subsidiary |
Singapore |
Singapore |
Hospitals |
354.4 |
4,371 |
|
|
|
Subsidiary |
Singapore |
Singapore |
Hospitals |
|
3,000 |
|
|
|
Subsidiary |
Singapore |
Singapore |
Ambulatory Services |
350.6 |
3,500 |
|
|
|
Subsidiary |
Singapore |
Singapore |
Ambulatory Services |
145.4 |
963 |
|
|
|
Subsidiary |
Singapore |
Singapore |
Ambulatory Services |
118.7 |
529 |
|
|
|
Subsidiary |
Singapore |
Singapore |
Ambulatory Services |
94.0 |
455 |
|
|
|
Subsidiary |
Singapore |
Singapore |
Research and Development Services |
12.6 |
|
|
|
|
Subsidiary |
Singapore |
Singapore |
Holding Companies |
|
|
|
|
|
Subsidiary |
Singapore |
Singapore |
Ambulatory Services |
1,070.0 |
7,924 |
|
|
|
Subsidiary |
Singapore |
Singapore |
Ambulatory Services |
673.8 |
3,865 |
|
|
|
Subsidiary |
Singapore |
Singapore |
Outpatient Care |
|
3,000 |
|
|
|
Subsidiary |
Singapore |
Singapore |
Hospitals |
23.3 |
320 |
|
|
|
Johns
Hopkins Singapore International Medical Centre Pte. Ltd |
Subsidiary |
Singapore |
Singapore |
Physicians and Health Practitioners |
18.1 |
120 |
|
|
Subsidiary |
Singapore |
Singapore |
Administration of Public Programs |
20.9 |
300 |
|
|
|
Subsidiary |
Singapore |
Singapore |
Internet and Web Services |
81.2 |
|
|
|
|
Subsidiary |
Singapore |
Singapore |
Pharmaceutical Manufacturing |
|
|
|
|
|
Subsidiary |
Singapore |
Singapore |
Hospitals |
|
|
|
|
|
Subsidiary |
Singapore |
Singapore |
Physicians and Health Practitioners |
|
1 |
|
|
|
Subsidiary |
Singapore |
Singapore |
Pharmaceutical Manufacturing |
|
|
|
|
|
Subsidiary |
Singapore |
Singapore |
Air Transportation Services |
1,417.6 |
1,000 |
|
|
|
Subsidiary |
Singapore |
Singapore |
Holding Companies |
11.7 |
|
|
|
|
Subsidiary |
Singapore |
Singapore |
Holding Companies |
1.1 |
|
|
|
|
Subsidiary |
Singapore |
Singapore |
Hospitals |
670.0 |
180 |
|
|
|
Subsidiary |
Singapore |
Singapore |
Architecture and Engineering |
|
8 |
|
|
|
Subsidiary |
Singapore |
Singapore |
Holding Companies |
|
|
|
|
|
Subsidiary |
Singapore |
Singapore |
Real Estate Agents and Brokers |
|
|
|
|
|
Subsidiary |
Singapore |
Singapore |
Investment Services |
|
|
|
|
|
Subsidiary |
Singapore |
Singapore |
Investment Services |
|
|
|
|
|
Gic (Realty) Private Limited |
Subsidiary |
|
|
|
|
|
|
|
Recosia Pte Ltd |
Subsidiary |
|
|
|
|
|
|
|
Subsidiary |
Singapore |
Singapore |
Consulting Services |
642.1 |
323 |
|
|
|
Subsidiary |
Shanghai |
China |
Commercial Real Estate Leasing |
|
|
|
|
|
Lsref Holdings Private Limited |
Subsidiary |
|
|
|
|
|
|
|
Subsidiary |
Singapore |
Singapore |
Executive and Legislature |
|
|
|
|
|
Subsidiary |
Singapore |
Singapore |
Executive and Legislature |
|
|
|
|
Competitors
Report
|
Company Name |
Location |
Employees |
Ownership |
|
ANA Holdings Inc |
Minato-Ku, Japan |
32,634 |
Public |
|
British Airways PLC |
Middlesex, United Kingdom |
43,213 |
Public |
|
Delta Air Lines, Inc. |
Atlanta, Georgia, United States |
79,629 |
Public |
|
Deutsche Lufthansa AG |
Koeln, Germany |
116,816 |
Public |
|
Japan Airlines Co Ltd |
Shinagawa-Ku, Japan |
30,882 |
Public |
|
Qantas Airways Limited |
Mascot, New South Wales, Australia |
33,265 |
Public |
Executive
report
|
Board of
Directors |
|
|
|
|
||||||||||||
|
Non-Executive Non-Independent Chairman of the Board |
Chairman |
|
||||||||||||
|
|||||||||||||||
|
Chairman |
Chairman |
|
|
|||||||||||
|
|||||||||||||||
|
Non-Executive Director |
Director/Board Member |
|
|
|||||||||||
|
|||||||||||||||
|
Non-Executive Independent Director |
Director/Board Member |
|
|
|||||||||||
|
|||||||||||||||
|
Chief Executive Officer, Non-Independent Executive Director |
Director/Board Member |
|
|
|||||||||||
|
|||||||||||||||
|
Board Member |
Director/Board Member |
|
|
|||||||||||
|
|||||||||||||||
|
Non-Executive Independent Director |
Director/Board Member |
|
|
|||||||||||
|
|||||||||||||||
|
Board Member |
Director/Board Member |
|
|
|||||||||||
|
|||||||||||||||
|
Director |
Director/Board Member |
|
|
|||||||||||
|
|||||||||||||||
|
Non-Executive Independent Director |
Director/Board Member |
|
|
|||||||||||
|
|||||||||||||||
|
Non-Executive Independent Director |
Director/Board Member |
|
|
|||||||||||
|
|||||||||||||||
|
Director |
Director/Board Member |
|
|
|||||||||||
|
|||||||||||||||
|
Non-Executive Independent Director |
Director/Board Member |
|
|
|||||||||||
|
|||||||||||||||
|
Executives |
|
|
|
|
||||||||||||
|
Chief Executive Officer, Non-Independent Executive Director |
Chief Executive Officer |
|
||||||||||||
|
|||||||||||||||
|
CEO-SilkAir (Singapore) Private Limited |
Chief Executive Officer |
|
|
|||||||||||
|
Chief Executive Officer, Scoot SIA Group |
Division Head Executive |
|
|
|||||||||||
|
|||||||||||||||
|
General Manager, United Kingdom and Ireland |
Division Head Executive |
|
|
|||||||||||
|
Executive VP, HR & Operations |
Operations Executive |
|
|
|||||||||||
|
Executive Vice President - Human Resources and Operations |
Operations Executive |
|
|
|||||||||||
|
|||||||||||||||
|
Acting Senior VP - Cabin Crew Ops |
Operations Executive |
|
|
|||||||||||
|
Senior Vice President - Flight Operations |
Operations Executive |
|
|
|||||||||||
|
|||||||||||||||
|
Senior Vice President Flight Operations |
Operations Executive |
|
|
|||||||||||
|
|||||||||||||||
|
Regional Vice President, South East Asia |
Administration Executive |
|
|
|||||||||||
|
Regional Vice President, South West Pacific |
Administration Executive |
|
|
|||||||||||
|
Regional Vice President, Europe |
Administration Executive |
|
|
|||||||||||
|
Company Secretary |
Company Secretary |
|
|
|||||||||||
|
Secretary - Senior Vice President |
Company Secretary |
|
|
|||||||||||
|
Senior Vice President - Finance |
Finance Executive |
|
|
|||||||||||
|
|||||||||||||||
|
Senior Vice President Finance |
Finance Executive |
|
|
|||||||||||
|
Senior Vice President - Human Resources |
Human Resources Executive |
|
|
|||||||||||
|
Senior VP-HR |
Human Resources Executive |
|
|
|||||||||||
|
HR Executive - Planning |
Human Resources Executive |
|
|
|||||||||||
|
Senior Manager Sales & Marketing |
Sales Executive |
|
|
|||||||||||
|
Vice President - Loyalty Marketing |
Marketing Executive |
|
|
|||||||||||
|
Senior Vice President - Marketing |
Marketing Executive |
|
|
|||||||||||
|
Investor Relations Executive |
Investor Relations Executive |
|
|
|||||||||||
|
Senior Vice President - Engineering |
Engineering/Technical Executive |
|
|
|||||||||||
|
IT Executive - Software Development |
Engineering/Technical Executive |
|
|
|||||||||||
|
Senior Vice President - Product and Services |
Product Management Executive |
|
|
|||||||||||
|
Executive Vice President - Commercial |
Commercial Executive |
|
|
|||||||||||
|
|||||||||||||||
|
Senior Vice President - Corporate Planning |
Planning Executive |
|
|
|||||||||||
|
|||||||||||||||
|
Cabin Crew Manager |
Other |
|
|
|||||||||||
|
Cabin Crew Service Manager |
Other |
|
|
|||||||||||
|
Chef Of The Year In The Uk |
Other |
|
|
|||||||||||
|
|||||||||||||||
|
AMIA - IT |
Other |
|
|
|||||||||||
Significant
Developments
Singapore
Airlines Ltd Announces Joint Venture Airline With Tata Sons Ltd In India Sep
19, 2013
Singapore
Airlines Ltd announced that the Company has entered into a Memorandum of
Understanding with Tata Sons Ltd, and applied for Foreign Investment Promotion
Board (FIPB) approval for the establishment of a full service airline based in
New Delhi, India (the JV Airline). The principal terms of the JV Airline are
set out below: Tata Sons Ltd will own 51% while SIA will own 49% of the JV
Airline. The total outlay (the Transaction) of USD100 million will be funded by
the shareholders in proportion to their respective shareholdings.
KI Holdings Co
Ltd Announces Settlement of Lawsuit with Singapore Airlines Ltd Jun 27, 2013
KI Holdings Co
Ltd announced that on June 26, 2013 it has reached a settlement on the lawsuit,
which Singapore Airlines Ltd filed against KI Holdings claiming for
compensation of default in delivering aircraft seat from KI Holdings. KI
Holdings will pay an additional SGD 19.5 million (SGD 25 million in total) to Singapore
Airlines Ltd for the settlement.
Singapore Airlines Ltd Announces Completion Of Sale
Of Shares In Virgin Atlantic Limited Jun 24, 2013
Singapore Airlines Ltd announced with reference to
its announcement dated December 11, 2012 in connection with the proposed sale
of 1,370,676 Ordinary Shares and 24,500 Redeemable Preference Shares of Virgin
Atlantic Limited (the Divestment), representing approximately 49 per cent. of
the issued share capital of Virgin Atlantic Limited (VAL), which is the Company's
entire interest in VAL, to Delta Air Lines, Inc. The Company announced that the
Divestment has completed and following completion, the Company no longer holds
any interest in VAL and VAL has ceased to be an associated company of the
Singapore Airlines Group.
Singapore
Airlines Ltd Welcomes FIRB Approval To Increase Stake In Virgin Australia
Holdings Ltd Jun 21, 2013
Singapore
Airlines Ltd announced that it has welcomed confirmation from Australia's
Foreign Investment Review Board (FIRB) that it will not object to SIA's
proposed increase of stake in Virgin Australia to 19.9%. FIRB approval will
enable Singapore Airlines to complete the purchase of an additional 255.5
million shares in Virgin Australia at 48 Australian cents per share, for a
total consideration of AUD122.6 million. The transaction is expected to be
completed by the end of next week. Singapore Airlines acquired an initial 10%
of Virgin Australia in late 2012 through an injection of funds in Virgin
Australia Holdings. The additional shares, representing a 9.9% stake, will be
acquired from the Virgin Group.
Singapore
Airlines Ltd To Order USD17 Billion Worth Of Aircraft From EADS NV's Airbus
& Boeing Co May 30, 2013
Singapore
Airlines Ltd announced that it has agreed to order 30 more Airbus A350-900s for
EADS NV and 30 Boeing 787-10Xs of Boeing Co in deals valued at more than USD17
billion. The agreement with Airbus comprises 30 firm-ordered A350-900s for
delivery from the 2016/17 financial year, plus options for 20 more. The options
may be converted into firm orders for larger A350-1000s. The agreement with
Boeing comprises 30 firm-ordered B787-10Xs for delivery from the 2018/19
financial year. It is conditional upon Boeing formally launching the B787-10X
programme.
Singapore
Airlines Ltd Declares Interim And Final Cash Dividend May 16, 2013
Singapore
Airlines Ltd. announced that the Board of Directors have declared a interim
cash dividend of SGD0.06 per ordinary share which is tax exempt (one-tier) and
final cash dividend of SGD0.17 . The final dividend, if so approved by the
shareholders, will be paid on August 16, 2013.
Virgin Australia
Holdings Ltd Announces Holding Interest Of Singapore Airlines Ltd Apr 23, 2013
Virgin Australia
Holdings Ltd announced that Singapore Airlines Ltd has an interest of
513,665,123 ordinary shares, which represents 19.9% of voting power in the
Company. Earlier, Singapore Airlines Ltd had 10% interest of voting power in
the Company.
Singapore
Airlines Ltd Announces Liquidation Of Dormant Subsidiary Mar 28, 2013
Singapore
Airlines Ltd announced that its wholly owned subsidiary, SIA Properties (Pte)
Ltd (SIAP), has been placed under members' voluntary liquidation. The voluntary
liquidation of SIAP is not expected to have any material impact on the Net Tangible
Assets and Earnings Per Share of SIA for the current financial year ending
March 31, 2013. None of the directors or substantial shareholders of SIA has
any interest, direct or indirect, in the voluntary liquidation of SIAP.
Singapore
Airlines Ltd Announces No Dividend For Q3 2013 Feb 07, 2013
Singapore
Airlines Ltd announced that no dividend has been declared for the third quarter
of 2013 (period ended December 31, 2012).
Singapore
Airlines Ltd In Talks To Sell Its 49% Stake In British carrier Virgin Atlantic;
Delta Air Lines Inc Among Potential Suitors Dec 03, 2012 reported
that Singapore Airlines Ltd said it was in talks with interested parties to
sell its 49% stake in British carrier Virgin Atlantic, with sources revealing
that Delta Air Lines Inc was among the potential suitors. Delta wants to gain
access to Virgin Atlantic's landing rights at London's Heathrow airport.
Singapore
Airlines Ltd Acquires Stake In Virgin Australia Holdings Ltd Nov 19, 2012
Virgin Australia
Holdings Ltd announced that Singapore Airlines Ltd has acquired 245,577,511
fully paid ordinary shares in the Company, which represents 10.00% of the
voting power.
Singapore
Airlines Ltd Declares Interim Cash Dividend Nov 02, 2012
Singapore
Airlines Ltd. announced that the Board of Directors have declared a interim
cash dividend of 6 cents per ordinary share which is tax exempt (one-tier). The
interim dividend will be paid on November 26, 2012.
Singapore
Airlines Ltd's SIA Properties (Pte) Ltd Divests Stake In PT Purosani Sri
Persada Oct 30, 2012
Singapore
Airlines Ltd 's SIA Properties (Pte) Ltd (SIAP) announced that it has sold its
entire 20% shareholding in the Indonesian company PT Purosani Sri Persada
(PTPSP) to PT Suryaraya Investama (PTSI). The sale was completed on October 30,
2012 for a total cash consideration of USD500,000.
Singapore
Airlines Ltd Announces Subscription Of 10% Stake In Virgin Australia Holdings
Limited Oct 29, 2012
Singapore
Airlines Ltd (SIA) announced that it is proposing to make an investment in
Virgin Australia Holdings Limited, a public company incorporated in Australia
whose shares are listed on the Australian Securities Exchange (ASX), and has
entered into a Subscription Agreement with Virgin Australia. Under the
Subscription Agreement, SIA has agreed to subscribe for 245,577,511 ordinary
shares in the capital of Virgin Australia, representing 10% of the enlarged
issued share capital of Virgin Australia. The subscription price is AUD0.4288
per Subscription Share, making a total consideration of AUD105,303,637. The
settlement date for the subscription of the Subscription Shares is November 16,
2012 or such later date as agreed by the parties.
Singapore
Airlines Ltd In $7.5 Billion EADS NV 's Airbus Deal-
Oct 24, 2012 reported that Singapore Airlines Ltd will order five Airbus A380 aircraft
and 20 more A350 planes in a deal valued at $7.5 billion, looking beyond a
business slowdown that has led the carrier to stop hiring cadet pilots.
Singapore Airlines Ltd's Scoot Announces To Acquire
Twenty 787 Aircraft Oct 24, 2012
Singapore Airlines Ltd's Scoot announced that it
has agreed to acquire 20 Boeing 787 aircraft for delivery commencing in 2014.
The twenty fuel-efficient aircraft will be used to replace Scoot's Boeing
777-200 fleet and facilitate the airline's ongoing expansion . Terms of the
transaction were not disclosed .
Annual
Income Statement
Financials in: USD (mil)
Except for share items (millions) and per share items (actual units)
|
|
31-Mar-2013 |
31-Mar-2012 |
31-Mar-2011 |
31-Mar-2010 |
31-Mar-2009 |
|
Period Length |
12 Months |
12 Months |
12 Months |
12 Months |
12 Months |
|
UpdateType/Date |
Updated Normal |
Updated Normal |
Updated Normal |
Updated Normal |
Updated Normal |
|
Filed Currency |
SGD |
SGD |
SGD |
SGD |
SGD |
|
Exchange Rate
(Period Average) |
1.242806 |
1.253961 |
1.332147 |
1.427138 |
1.440254 |
|
Auditor |
Ernst &
Young LLP |
Ernst &
Young LLP |
Ernst &
Young LLP |
Ernst &
Young LLP |
Ernst &
Young LLP |
|
Auditor Opinion |
Unaudited |
Unqualified |
Unqualified |
Unqualified |
Unqualified |
|
|
|
|
|
|
|
|
Net Sales |
12,148.5 |
11,848.7 |
10,903.3 |
8,904.0 |
11,106.6 |
|
Revenue |
12,148.5 |
11,848.7 |
10,903.3 |
8,904.0 |
11,106.6 |
|
Total Revenue |
12,148.5 |
11,848.7 |
10,903.3 |
8,904.0 |
11,106.6 |
|
|
|
|
|
|
|
|
Cost of Revenue |
9,707.2 |
9,261.7 |
7,705.2 |
6,721.7 |
8,445.2 |
|
Cost of Revenue, Total |
9,707.2 |
9,261.7 |
7,705.2 |
6,721.7 |
8,445.2 |
|
Gross Profit |
2,441.3 |
2,587.0 |
3,198.1 |
2,182.3 |
2,661.3 |
|
|
|
|
|
|
|
|
Selling/General/Administrative Expense |
445.4 |
457.5 |
436.7 |
387.4 |
338.7 |
|
Advertising Expense |
168.4 |
160.8 |
143.7 |
147.4 |
166.8 |
|
Total Selling/General/Administrative Expenses |
613.9 |
618.3 |
580.4 |
534.8 |
505.5 |
|
Depreciation |
1,278.6 |
1,266.8 |
1,254.9 |
1,200.9 |
1,145.4 |
|
Amortization of Intangibles |
18.3 |
18.4 |
18.2 |
29.9 |
31.6 |
|
Depreciation/Amortization |
1,296.9 |
1,285.2 |
1,273.1 |
1,230.8 |
1,177.0 |
|
Impairment-Assets Held for Use |
7.9 |
12.6 |
11.8 |
4.3 |
28.7 |
|
Impairment-Assets Held for Sale |
- |
4.5 |
0.0 |
0.0 |
6.8 |
|
Other Unusual Expense (Income) |
15.8 |
4.6 |
91.6 |
-14.3 |
-27.1 |
|
Unusual Expense (Income) |
23.7 |
21.7 |
103.4 |
-10.0 |
8.5 |
|
Other Operating Expense |
338.2 |
442.9 |
378.5 |
368.2 |
322.7 |
|
Other Operating Expenses, Total |
338.2 |
442.9 |
378.5 |
368.2 |
322.7 |
|
Total Operating Expense |
11,979.8 |
11,629.8 |
10,040.6 |
8,845.5 |
10,458.9 |
|
|
|
|
|
|
|
|
Operating Income |
168.7 |
218.9 |
862.7 |
58.6 |
647.7 |
|
|
|
|
|
|
|
|
Interest Expense -
Non-Operating |
-34.4 |
-59.3 |
-52.6 |
-48.3 |
-62.3 |
|
Interest Expense, Net Non-Operating |
-34.4 |
-59.3 |
-52.6 |
-48.3 |
-62.3 |
|
Interest Income -
Non-Operating |
50.3 |
40.3 |
28.0 |
34.7 |
66.7 |
|
Investment Income -
Non-Operating |
151.0 |
114.9 |
149.3 |
132.1 |
137.2 |
|
Interest/Investment Income - Non-Operating |
201.3 |
155.2 |
177.3 |
166.8 |
203.9 |
|
Interest Income (Expense) - Net Non-Operating Total |
167.0 |
95.9 |
124.7 |
118.5 |
141.6 |
|
Gain (Loss) on Sale of Assets |
52.2 |
0.3 |
77.8 |
22.6 |
43.3 |
|
Other Non-Operating Income (Expense) |
0.0 |
42.3 |
0.0 |
0.4 |
-0.3 |
|
Other, Net |
0.0 |
42.3 |
0.0 |
0.4 |
-0.3 |
|
Income Before Tax |
387.8 |
357.4 |
1,065.2 |
200.1 |
832.2 |
|
|
|
|
|
|
|
|
Total Income Tax |
32.5 |
41.0 |
202.8 |
4.2 |
36.0 |
|
Income After Tax |
355.3 |
316.4 |
862.4 |
195.8 |
796.2 |
|
|
|
|
|
|
|
|
Minority Interest |
-50.5 |
-48.6 |
-42.6 |
-44.6 |
-59.2 |
|
Net Income Before Extraord Items |
304.9 |
267.9 |
819.7 |
151.2 |
737.0 |
|
Net Income |
304.9 |
267.9 |
819.7 |
151.2 |
737.0 |
|
|
|
|
|
|
|
|
Income Available to Common Excl Extraord Items |
304.9 |
267.9 |
819.7 |
151.2 |
737.0 |
|
|
|
|
|
|
|
|
Income Available to Common Incl Extraord Items |
304.9 |
267.9 |
819.7 |
151.2 |
737.0 |
|
|
|
|
|
|
|
|
Basic/Primary Weighted Average Shares |
1,175.1 |
1,188.8 |
1,194.9 |
1,184.8 |
1,184.7 |
|
Basic EPS Excl Extraord Items |
0.26 |
0.23 |
0.69 |
0.13 |
0.62 |
|
Basic/Primary EPS Incl Extraord Items |
0.26 |
0.23 |
0.69 |
0.13 |
0.62 |
|
Dilution Adjustment |
- |
-1.4 |
-1.7 |
-0.7 |
-0.8 |
|
Diluted Net Income |
304.9 |
266.5 |
818.0 |
150.5 |
736.3 |
|
Diluted Weighted Average Shares |
1,181.2 |
1,194.9 |
1,208.2 |
1,196.5 |
1,189.9 |
|
Diluted EPS Excl Extraord Items |
0.26 |
0.22 |
0.68 |
0.13 |
0.62 |
|
Diluted EPS Incl Extraord Items |
0.26 |
0.22 |
0.68 |
0.13 |
0.62 |
|
Dividends per Share - Common Stock Primary Issue |
0.19 |
0.16 |
0.45 |
0.08 |
0.28 |
|
Gross Dividends - Common Stock |
217.5 |
188.1 |
1,259.9 |
100.4 |
325.1 |
|
Interest Expense, Supplemental |
34.4 |
59.3 |
52.6 |
36.1 |
44.1 |
|
Depreciation, Supplemental |
1,278.6 |
1,266.8 |
1,254.9 |
1,200.9 |
1,145.4 |
|
Total Special Items |
-28.6 |
21.4 |
25.6 |
-32.7 |
-36.3 |
|
Normalized Income Before Tax |
359.3 |
378.8 |
1,090.8 |
167.4 |
795.9 |
|
|
|
|
|
|
|
|
Effect of Special Items on Income Taxes |
-2.4 |
2.5 |
4.9 |
-0.7 |
-1.6 |
|
Inc Tax Ex Impact of Sp Items |
30.1 |
43.4 |
207.7 |
3.5 |
34.4 |
|
Normalized Income After Tax |
329.2 |
335.4 |
883.1 |
163.9 |
761.5 |
|
|
|
|
|
|
|
|
Normalized Inc. Avail to Com. |
278.7 |
286.8 |
840.5 |
119.2 |
702.3 |
|
|
|
|
|
|
|
|
Basic Normalized EPS |
0.24 |
0.24 |
0.70 |
0.10 |
0.59 |
|
Diluted Normalized EPS |
0.24 |
0.24 |
0.69 |
0.10 |
0.59 |
|
Amort of Intangibles, Supplemental |
18.3 |
18.4 |
18.2 |
29.9 |
31.6 |
|
Rental Expenses |
445.4 |
457.5 |
436.7 |
387.4 |
338.7 |
|
Advertising Expense, Supplemental |
168.4 |
160.8 |
143.7 |
147.4 |
166.8 |
|
Normalized EBIT |
192.3 |
240.6 |
966.1 |
48.6 |
654.7 |
|
Normalized EBITDA |
1,489.2 |
1,525.8 |
2,239.2 |
1,279.3 |
1,831.7 |
|
Current Tax - Domestic |
- |
158.9 |
290.8 |
56.0 |
156.9 |
|
Current Tax - Other |
- |
11.8 |
6.0 |
-79.7 |
8.2 |
|
Current Tax - Total |
103.4 |
- |
- |
- |
- |
|
Current Tax - Total |
103.4 |
170.7 |
296.8 |
-23.8 |
165.1 |
|
Deferred Tax - Domestic |
- |
-111.2 |
-95.3 |
-30.1 |
-26.7 |
|
Deferred Tax - Other |
- |
-18.4 |
1.4 |
58.1 |
-6.5 |
|
Deferred Tax - Total |
-70.9 |
- |
- |
- |
- |
|
Deferred Tax - Total |
-70.9 |
-129.7 |
-94.0 |
28.0 |
-33.2 |
|
Domestic Tax - Other |
- |
- |
- |
0.0 |
-96.0 |
|
Income Tax - Total |
32.5 |
41.0 |
202.8 |
4.2 |
36.0 |
|
Other Pension, Net - Domestic |
23.0 |
20.7 |
10.2 |
13.2 |
10.2 |
|
Domestic Pension Plan Expense |
23.0 |
20.7 |
10.2 |
13.2 |
10.2 |
|
Defined Contribution Expense - Domestic |
133.9 |
119.7 |
90.2 |
65.0 |
83.7 |
|
Total Pension Expense |
156.9 |
140.4 |
100.4 |
78.2 |
93.9 |
|
Total Plan Other Expense |
23.0 |
20.7 |
10.2 |
13.2 |
10.2 |
Annual Balance Sheet
Financials in: USD (mil)
|
|
31-Mar-2013 |
31-Mar-2012 |
31-Mar-2011 |
31-Mar-2010 |
31-Mar-2009 |
|
UpdateType/Date |
Updated Normal |
Updated Normal |
Reclassified Normal |
Updated Normal |
Updated Normal |
|
Filed Currency |
SGD |
SGD |
SGD |
SGD |
SGD |
|
Exchange Rate |
1.240705 |
1.260191 |
1.2605 |
1.39805 |
1.5202 |
|
Auditor |
Ernst &
Young LLP |
Ernst &
Young LLP |
Ernst &
Young LLP |
Ernst &
Young LLP |
Ernst & Young
LLP |
|
Auditor Opinion |
Unaudited |
Unqualified |
Unqualified |
Unqualified |
Unqualified |
|
|
|
|
|
|
|
|
Cash |
296.0 |
350.8 |
242.2 |
287.6 |
202.1 |
|
Short Term Investments |
4,063.7 |
3,888.2 |
5,983.2 |
3,023.8 |
2,894.2 |
|
Cash and Short Term Investments |
4,359.6 |
4,239.0 |
6,225.4 |
3,311.4 |
3,096.2 |
|
Accounts Receivable -
Trade, Gross |
1,208.4 |
1,093.1 |
1,115.7 |
982.7 |
1,000.7 |
|
Provision for Doubtful
Accounts |
- |
-18.0 |
-19.4 |
-18.6 |
-23.5 |
|
Trade Accounts Receivable - Net |
1,254.4 |
1,075.1 |
1,096.2 |
964.1 |
977.2 |
|
Other Receivables |
17.7 |
25.9 |
29.3 |
35.3 |
25.7 |
|
Total Receivables, Net |
1,272.2 |
1,100.9 |
1,125.5 |
999.3 |
1,002.8 |
|
Inventories - Work In Progress |
- |
- |
- |
31.4 |
32.2 |
|
Inventories - Other |
221.6 |
242.9 |
266.2 |
275.8 |
298.8 |
|
Total Inventory |
221.6 |
242.9 |
266.2 |
307.2 |
331.0 |
|
Prepaid Expenses |
83.2 |
78.2 |
82.2 |
66.2 |
67.0 |
|
Other Current Assets |
108.0 |
57.1 |
58.9 |
- |
- |
|
Other Current Assets, Total |
108.0 |
57.1 |
58.9 |
- |
- |
|
Total Current Assets |
6,044.5 |
5,718.1 |
7,758.2 |
4,684.2 |
4,497.1 |
|
|
|
|
|
|
|
|
Buildings |
119.5 |
117.9 |
117.9 |
107.8 |
109.1 |
|
Land/Improvements |
517.9 |
502.5 |
502.3 |
421.7 |
927.9 |
|
Machinery/Equipment |
16,718.2 |
16,563.8 |
16,948.8 |
15,686.9 |
13,993.9 |
|
Construction in
Progress |
1,384.2 |
1,192.2 |
1,425.1 |
1,150.3 |
1,232.1 |
|
Other
Property/Plant/Equipment |
219.1 |
220.1 |
225.1 |
236.1 |
277.1 |
|
Property/Plant/Equipment - Gross |
18,959.0 |
18,596.5 |
19,219.1 |
17,602.8 |
16,540.1 |
|
Accumulated Depreciation |
-8,402.1 |
-7,978.0 |
-8,209.5 |
-6,827.9 |
-6,015.5 |
|
Property/Plant/Equipment - Net |
10,556.9 |
10,618.5 |
11,009.6 |
10,774.9 |
10,524.5 |
|
Goodwill - Gross |
- |
- |
- |
0.0 |
159.5 |
|
Accumulated Goodwill Amortization |
- |
- |
- |
0.0 |
-0.1 |
|
Goodwill, Net |
- |
- |
- |
0.0 |
159.4 |
|
Intangibles - Gross |
451.0 |
385.1 |
344.1 |
274.5 |
429.5 |
|
Accumulated Intangible Amortization |
-274.9 |
-259.5 |
-244.7 |
-216.7 |
-225.2 |
|
Intangibles, Net |
176.1 |
125.6 |
99.3 |
57.8 |
204.4 |
|
LT Investment - Affiliate Companies |
544.2 |
520.9 |
482.0 |
458.6 |
646.5 |
|
LT Investments - Other |
569.8 |
296.5 |
28.0 |
25.2 |
36.3 |
|
Long Term Investments |
1,114.0 |
817.4 |
510.0 |
483.9 |
682.8 |
|
Note Receivable - Long Term |
172.4 |
171.1 |
94.9 |
81.8 |
257.6 |
|
Deferred Charges |
13.0 |
41.0 |
0.0 |
- |
- |
|
Other Long Term Assets, Total |
13.0 |
41.0 |
0.0 |
- |
- |
|
Total Assets |
18,076.9 |
17,491.8 |
19,472.0 |
16,082.6 |
16,325.8 |
|
|
|
|
|
|
|
|
Accounts Payable |
2,580.1 |
2,289.7 |
2,162.4 |
1,787.3 |
2,355.9 |
|
Notes Payable/Short Term Debt |
0.0 |
0.0 |
714.0 |
0.0 |
137.7 |
|
Current Portion - Long Term Debt/Capital Leases |
59.2 |
53.3 |
50.1 |
46.1 |
65.5 |
|
Customer Advances |
1,585.2 |
1,550.4 |
1,511.2 |
1,286.1 |
1,081.7 |
|
Income Taxes Payable |
129.0 |
193.9 |
349.2 |
86.4 |
228.9 |
|
Other Payables |
- |
- |
- |
1.4 |
0.4 |
|
Other Current Liabilities |
117.3 |
90.6 |
157.4 |
25.4 |
23.2 |
|
Other Current liabilities, Total |
1,831.5 |
1,835.0 |
2,017.9 |
1,399.4 |
1,334.2 |
|
Total Current Liabilities |
4,470.8 |
4,177.9 |
4,944.3 |
3,232.8 |
3,893.4 |
|
|
|
|
|
|
|
|
Long Term Debt |
647.9 |
641.1 |
637.4 |
643.8 |
599.5 |
|
Capital Lease Obligations |
113.3 |
167.1 |
218.8 |
267.8 |
316.8 |
|
Total Long Term Debt |
761.3 |
808.2 |
856.2 |
911.6 |
916.3 |
|
Total Debt |
820.5 |
861.5 |
1,620.2 |
957.7 |
1,119.5 |
|
|
|
|
|
|
|
|
Deferred Income Tax - LT Liability |
1,572.7 |
1,610.2 |
1,730.3 |
1,642.7 |
1,461.6 |
|
Deferred Income Tax |
1,572.7 |
1,610.2 |
1,730.3 |
1,642.7 |
1,461.6 |
|
Minority Interest |
252.0 |
233.3 |
236.7 |
200.6 |
368.2 |
|
Reserves |
339.6 |
252.8 |
160.3 |
117.1 |
79.3 |
|
Other Long Term Liabilities |
118.2 |
178.1 |
275.4 |
343.8 |
443.3 |
|
Other Liabilities, Total |
457.8 |
430.9 |
435.6 |
460.9 |
522.6 |
|
Total Liabilities |
7,514.6 |
7,260.5 |
8,203.2 |
6,448.6 |
7,162.1 |
|
|
|
|
|
|
|
|
Common Stock |
1,496.0 |
1,472.9 |
1,453.7 |
1,252.2 |
1,108.3 |
|
Common Stock |
1,496.0 |
1,472.9 |
1,453.7 |
1,252.2 |
1,108.3 |
|
Additional Paid-In Capital |
122.3 |
131.6 |
136.9 |
132.5 |
123.2 |
|
Retained Earnings (Accumulated Deficit) |
9,337.9 |
9,017.4 |
9,969.5 |
8,448.8 |
8,486.8 |
|
Treasury Stock - Common |
-217.5 |
-205.0 |
-34.1 |
-0.6 |
-29.2 |
|
Unrealized Gain (Loss) |
-21.8 |
-37.8 |
-109.5 |
-100.8 |
-434.7 |
|
Translation Adjustment |
-154.6 |
-147.8 |
-147.6 |
-98.0 |
-90.7 |
|
Other Equity, Total |
-154.6 |
-147.8 |
-147.6 |
-98.0 |
-90.7 |
|
Total Equity |
10,562.3 |
10,231.3 |
11,268.9 |
9,634.1 |
9,163.7 |
|
|
|
|
|
|
|
|
Total Liabilities & Shareholders’ Equity |
18,076.9 |
17,491.8 |
19,472.0 |
16,082.6 |
16,325.8 |
|
|
|
|
|
|
|
|
Shares Outstanding - Common Stock Primary
Issue |
1,175.5 |
1,176.8 |
1,194.9 |
1,191.5 |
1,181.4 |
|
Total Common Shares Outstanding |
1,175.5 |
1,176.8 |
1,194.9 |
1,191.5 |
1,181.4 |
|
Treasury Shares - Common Stock Primary Issue |
24.4 |
23.1 |
3.1 |
0.1 |
5.2 |
|
Employees |
23,189 |
22,746 |
22,282 |
21,712 |
30,666 |
|
Number of Common Shareholders |
- |
45,077 |
33,629 |
27,092 |
25,304 |
|
Accumulated Goodwill Amortization Suppl. |
- |
- |
- |
0.0 |
0.1 |
|
Accumulated Intangible Amort, Suppl. |
274.9 |
259.5 |
244.7 |
216.7 |
225.2 |
|
Deferred Revenue - Current |
1,585.2 |
1,550.4 |
1,511.2 |
1,286.1 |
1,081.7 |
|
Deferred Revenue - Long Term |
118.2 |
178.1 |
275.4 |
343.8 |
443.3 |
|
Total Long Term Debt, Supplemental |
- |
855.3 |
1,617.5 |
957.7 |
822.2 |
|
Long Term Debt Maturing within 1 Year |
- |
53.3 |
764.1 |
46.1 |
179.6 |
|
Long Term Debt Maturing in Year 2 |
- |
- |
- |
- |
28.2 |
|
Long Term Debt Maturing in Year 3 |
- |
- |
- |
- |
612.6 |
|
Long Term Debt Maturing in Year 4 |
- |
- |
- |
- |
0.3 |
|
Long Term Debt Maturing in Year 5 |
- |
- |
- |
- |
0.1 |
|
Long Term Debt Maturing in 2-3 Years |
- |
- |
- |
- |
640.7 |
|
Long Term Debt Maturing in 4-5 Years |
- |
- |
- |
- |
0.5 |
|
Long Term Debt Matur. in Year 6 & Beyond |
- |
801.9 |
853.5 |
911.6 |
1.4 |
|
Total Capital Leases, Supplemental |
168.0 |
218.5 |
267.5 |
313.9 |
416.5 |
|
Capital Lease Payments Due in Year 1 |
54.6 |
51.4 |
48.7 |
46.1 |
56.0 |
|
Capital Lease Payments Due in Year 2 |
28.3 |
37.6 |
46.5 |
49.2 |
57.4 |
|
Capital Lease Payments Due in Year 3 |
28.3 |
37.6 |
46.5 |
49.2 |
58.7 |
|
Capital Lease Payments Due in Year 4 |
28.3 |
37.6 |
46.5 |
49.2 |
59.9 |
|
Capital Lease Payments Due in Year 5 |
28.3 |
37.6 |
46.5 |
49.2 |
60.4 |
|
Capital Lease Payments Due in 2-3 Years |
56.7 |
75.1 |
92.9 |
98.5 |
116.1 |
|
Capital Lease Payments Due in 4-5 Years |
56.7 |
75.1 |
92.9 |
98.5 |
120.3 |
|
Cap. Lease Pymts. Due in Year 6 & Beyond |
0.0 |
16.9 |
32.9 |
70.9 |
124.0 |
|
Total Operating Leases, Supplemental |
3,058.5 |
2,961.7 |
2,379.4 |
2,132.3 |
2,313.0 |
|
Operating Lease Payments Due in Year 1 |
587.5 |
499.5 |
516.9 |
445.9 |
430.5 |
|
Operating Lease Payments Due in Year 2 |
428.0 |
414.5 |
359.2 |
323.5 |
315.7 |
|
Operating Lease Payments Due in Year 3 |
428.0 |
414.5 |
359.2 |
323.5 |
315.7 |
|
Operating Lease Payments Due in Year 4 |
428.0 |
414.5 |
359.2 |
323.5 |
315.7 |
|
Operating Lease Payments Due in Year 5 |
428.0 |
414.5 |
359.2 |
323.5 |
315.7 |
|
Operating Lease Pymts. Due in 2-3 Years |
856.0 |
829.0 |
718.4 |
647.0 |
631.4 |
|
Operating Lease Pymts. Due in 4-5 Years |
856.0 |
829.0 |
718.4 |
647.0 |
631.4 |
|
Oper. Lse. Pymts. Due in Year 6 & Beyond |
758.9 |
804.2 |
425.7 |
392.4 |
619.8 |
Annual Cash Flows
Financials in: USD (mil)
|
|
31-Mar-2013 |
31-Mar-2012 |
31-Mar-2011 |
31-Mar-2010 |
31-Mar-2009 |
|
Period Length |
12 Months |
12 Months |
12 Months |
12 Months |
12 Months |
|
UpdateType/Date |
Updated Normal |
Updated Normal |
Updated Normal |
Updated Normal |
Reclassified
Normal |
|
Filed Currency |
SGD |
SGD |
SGD |
SGD |
SGD |
|
Exchange Rate
(Period Average) |
1.242806 |
1.253961 |
1.332147 |
1.427138 |
1.440254 |
|
Auditor |
Ernst &
Young LLP |
Ernst &
Young LLP |
Ernst & Young
LLP |
Ernst &
Young LLP |
Ernst &
Young LLP |
|
Auditor Opinion |
Unaudited |
Unqualified |
Unqualified |
Unqualified |
Unqualified |
|
|
|
|
|
|
|
|
Net Income/Starting Line |
387.8 |
357.4 |
1,065.2 |
200.1 |
832.2 |
|
Depreciation |
1,278.6 |
1,266.8 |
1,254.9 |
1,200.9 |
1,145.4 |
|
Depreciation/Depletion |
1,278.6 |
1,266.8 |
1,254.9 |
1,200.9 |
1,145.4 |
|
Amortization of Intangibles |
18.3 |
18.4 |
18.2 |
29.9 |
31.6 |
|
Amortization |
18.3 |
18.4 |
18.2 |
29.9 |
31.6 |
|
Unusual Items |
4.8 |
18.0 |
85.7 |
-13.5 |
-14.8 |
|
Equity in Net Earnings (Loss) |
-126.9 |
-100.6 |
-131.4 |
-104.5 |
-121.5 |
|
Other Non-Cash Items |
90.6 |
-30.1 |
-55.5 |
-50.9 |
-48.4 |
|
Non-Cash Items |
-31.5 |
-112.7 |
-101.2 |
-168.9 |
-184.7 |
|
Accounts Receivable |
-209.0 |
-101.4 |
27.2 |
105.9 |
186.4 |
|
Inventories |
-0.9 |
23.4 |
30.0 |
17.0 |
39.2 |
|
Prepaid Expenses |
-3.8 |
4.1 |
-8.3 |
0.4 |
2.1 |
|
Other Assets |
- |
- |
0.0 |
1.0 |
-0.4 |
|
Accounts Payable |
216.4 |
178.8 |
296.7 |
-28.7 |
-358.6 |
|
Other Liabilities |
10.5 |
39.0 |
80.2 |
107.7 |
-327.4 |
|
Other Operating Cash Flow |
-174.4 |
-316.0 |
-196.9 |
-87.6 |
-208.3 |
|
Changes in Working Capital |
-161.2 |
-172.0 |
229.0 |
115.8 |
-667.1 |
|
Cash from Operating Activities |
1,492.1 |
1,357.9 |
2,466.1 |
1,377.7 |
1,157.4 |
|
|
|
|
|
|
|
|
Purchase of Fixed Assets |
-1,509.0 |
-1,308.8 |
-918.7 |
-1,093.3 |
-1,410.2 |
|
Purchase/Acquisition of Intangibles |
-67.3 |
-44.7 |
-14.7 |
-23.7 |
-15.0 |
|
Capital Expenditures |
-1,576.3 |
-1,353.6 |
-933.4 |
-1,117.0 |
-1,425.2 |
|
Acquisition of Business |
0.0 |
-43.5 |
-0.8 |
-0.7 |
-317.9 |
|
Sale of Business |
3.7 |
0.0 |
1.6 |
-211.5 |
9.4 |
|
Sale of Fixed Assets |
521.2 |
394.8 |
541.5 |
118.1 |
623.8 |
|
Sale/Maturity of Investment |
0.0 |
38.4 |
0.0 |
- |
- |
|
Investment, Net |
249.8 |
-183.1 |
-194.9 |
373.8 |
-153.7 |
|
Purchase of Investments |
-293.2 |
-270.3 |
0.0 |
0.0 |
-3.1 |
|
Other Investing Cash Flow |
172.5 |
157.0 |
160.6 |
162.9 |
177.7 |
|
Other Investing Cash Flow Items, Total |
654.0 |
93.2 |
508.1 |
442.5 |
336.4 |
|
Cash from Investing Activities |
-922.3 |
-1,260.3 |
-425.3 |
-674.5 |
-1,088.8 |
|
|
|
|
|
|
|
|
Other Financing Cash Flow |
-72.9 |
-127.8 |
-86.6 |
-81.0 |
-100.1 |
|
Financing Cash Flow Items |
-72.9 |
-127.8 |
-86.6 |
-81.0 |
-100.1 |
|
Cash Dividends Paid - Common |
-151.3 |
-1,241.8 |
-287.3 |
-166.0 |
-823.3 |
|
Total Cash Dividends Paid |
-151.3 |
-1,241.8 |
-287.3 |
-166.0 |
-823.3 |
|
Sale/Issuance of
Common |
- |
- |
0.0 |
0.7 |
6.1 |
|
Repurchase/Retirement
of Common |
-30.3 |
-217.0 |
-33.4 |
0.0 |
-44.5 |
|
Common Stock, Net |
-30.3 |
-217.0 |
-33.4 |
0.7 |
-38.4 |
|
Options Exercised |
30.8 |
52.4 |
67.1 |
74.1 |
35.1 |
|
Issuance (Retirement) of Stock, Net |
0.5 |
-164.6 |
33.7 |
74.8 |
-3.3 |
|
Long Term Debt Issued |
2.8 |
0.9 |
601.8 |
1.5 |
1.3 |
|
Long Term Debt
Reduction |
-51.6 |
-766.8 |
-48.3 |
-64.4 |
-48.6 |
|
Long Term Debt, Net |
-48.8 |
-766.0 |
553.5 |
-62.9 |
-47.3 |
|
Issuance (Retirement) of Debt, Net |
-48.8 |
-766.0 |
553.5 |
-62.9 |
-47.3 |
|
Cash from Financing Activities |
-272.4 |
-2,300.2 |
213.3 |
-235.2 |
-974.0 |
|
|
|
|
|
|
|
|
Foreign Exchange Effects |
-10.2 |
24.2 |
-30.4 |
-24.4 |
16.5 |
|
Net Change in Cash |
287.2 |
-2,178.3 |
2,223.7 |
443.7 |
-888.9 |
|
|
|
|
|
|
|
|
Net Cash - Beginning Balance |
3,783.9 |
5,928.6 |
3,356.9 |
2,689.8 |
3,554.2 |
|
Net Cash - Ending Balance |
- |
3,750.3 |
5,580.6 |
3,133.5 |
2,665.3 |
|
Cash Interest Paid |
27.5 |
69.3 |
52.0 |
46.4 |
48.5 |
|
Cash Taxes Paid |
155.1 |
314.9 |
45.4 |
87.6 |
208.3 |
Annual Income Statement
Financials in: USD (mil)
Except for share items (millions) and per share items (actual units)
|
|
31-Mar-2013 |
31-Mar-2012 |
31-Mar-2011 |
31-Mar-2010 |
31-Mar-2009 |
|
Period Length |
12 Months |
12 Months |
12 Months |
12 Months |
12 Months |
|
UpdateType/Date |
Updated Normal |
Updated Normal |
Updated Normal |
Updated Normal |
Updated Normal |
|
Filed Currency |
SGD |
SGD |
SGD |
SGD |
SGD |
|
Exchange Rate
(Period Average) |
1.242806 |
1.253961 |
1.332147 |
1.427138 |
1.440254 |
|
Auditor |
Ernst &
Young LLP |
Ernst &
Young LLP |
Ernst &
Young LLP |
Ernst &
Young LLP |
Ernst &
Young LLP |
|
Auditor Opinion |
Unaudited |
Unqualified |
Unqualified |
Unqualified |
Unqualified |
|
|
|
|
|
|
|
|
Revenue |
12,148.5 |
11,848.7 |
10,903.3 |
8,904.0 |
11,106.6 |
|
Total Revenue |
12,148.5 |
11,848.7 |
10,903.3 |
8,904.0 |
11,106.6 |
|
|
|
|
|
|
|
|
Staff Costs |
1,893.5 |
1,750.0 |
1,665.3 |
1,513.1 |
1,767.7 |
|
Fuel Costs |
4,746.8 |
4,628.1 |
3,434.5 |
2,939.1 |
4,449.5 |
|
Depreciation |
1,278.6 |
1,266.8 |
1,254.9 |
1,200.9 |
1,145.4 |
|
Impairment of Fixed Assets |
7.9 |
12.6 |
11.8 |
4.3 |
28.7 |
|
Amortization of Intangibles |
18.3 |
18.4 |
18.2 |
29.9 |
31.6 |
|
Aircraft maintenance and overhaul costs |
433.9 |
369.5 |
302.4 |
239.9 |
265.0 |
|
Commission |
286.0 |
263.9 |
302.4 |
221.8 |
273.9 |
|
Landing, parking and overflying charges |
553.4 |
533.2 |
460.3 |
412.4 |
456.1 |
|
Handling Charges |
809.5 |
807.7 |
714.4 |
550.0 |
403.2 |
|
Rentals |
445.4 |
457.5 |
436.7 |
387.4 |
338.7 |
|
Material Costs |
172.4 |
174.6 |
168.1 |
263.0 |
267.5 |
|
Inflight Meals |
437.0 |
383.2 |
325.3 |
243.6 |
160.4 |
|
Advertising and sales costs |
168.4 |
160.8 |
143.7 |
147.4 |
166.8 |
|
Insurance Exp. |
34.8 |
37.3 |
38.3 |
40.4 |
41.9 |
|
Accommodation |
93.0 |
90.8 |
84.7 |
99.5 |
130.0 |
|
Other passenger costs |
127.5 |
111.1 |
109.1 |
91.4 |
101.9 |
|
Crew Expenses |
119.2 |
112.3 |
100.4 |
107.5 |
128.2 |
|
Other operating expenses |
338.2 |
442.9 |
378.5 |
368.2 |
322.7 |
|
Impairment of non-equity investments |
- |
- |
- |
0.0 |
6.8 |
|
Liquidated damages |
-0.2 |
- |
- |
- |
- |
|
Recoognition of Liquidated Damages |
- |
0.3 |
-59.9 |
-14.3 |
-27.1 |
|
Provision for impairment in an associate |
- |
4.5 |
0.0 |
- |
- |
|
Exceptional Items |
16.0 |
4.3 |
151.5 |
0.0 |
- |
|
Total Operating Expense |
11,979.8 |
11,629.8 |
10,040.6 |
8,845.5 |
10,458.9 |
|
|
|
|
|
|
|
|
G/L on Sale of Tangible & Intangible F |
0.5 |
- |
- |
- |
- |
|
G/L on Sale & Acqui. of Group Companies |
6.7 |
- |
- |
- |
- |
|
G/L on Sale of Tangible & Intangible FA |
45.1 |
- |
- |
- |
- |
|
Dispose Other Assets |
- |
1.4 |
0.8 |
4.8 |
1.2 |
|
Finance charges |
-34.4 |
-59.3 |
-52.6 |
-48.3 |
-62.3 |
|
Interest Income |
50.3 |
40.3 |
28.0 |
34.7 |
66.7 |
|
Sale of Assets |
- |
-1.1 |
77.5 |
17.8 |
42.1 |
|
Dividends from an associated company |
2.2 |
- |
- |
- |
- |
|
Dividends-Invest. |
22.0 |
14.4 |
17.9 |
23.1 |
16.5 |
|
Loss on sale of Service Quality (SQ) C e |
- |
0.0 |
-0.5 |
0.0 |
- |
|
Investment income |
- |
- |
0.0 |
- |
- |
|
Gain on Disposal of SAT Shares |
- |
- |
0.0 |
4.5 |
0.0 |
|
Return of capital by an associated compa |
0.0 |
- |
- |
- |
- |
|
Other |
- |
42.3 |
0.0 |
0.4 |
-0.3 |
|
Share-JV |
77.4 |
59.6 |
56.0 |
39.3 |
44.4 |
|
Share-Associated |
49.5 |
41.0 |
75.4 |
65.2 |
77.1 |
|
Dispose Investment |
- |
- |
- |
0.0 |
-0.8 |
|
Net Income Before Taxes |
387.8 |
357.4 |
1,065.2 |
200.1 |
832.2 |
|
|
|
|
|
|
|
|
Provision for Income Taxes |
32.5 |
41.0 |
202.8 |
4.2 |
36.0 |
|
Net Income After Taxes |
355.3 |
316.4 |
862.4 |
195.8 |
796.2 |
|
|
|
|
|
|
|
|
NON-CONTROLLING INTERESTS |
-50.5 |
-48.6 |
-42.6 |
-44.6 |
-59.2 |
|
Net Income Before Extra. Items |
304.9 |
267.9 |
819.7 |
151.2 |
737.0 |
|
Net Income |
304.9 |
267.9 |
819.7 |
151.2 |
737.0 |
|
|
|
|
|
|
|
|
Income Available to Com Excl ExtraOrd |
304.9 |
267.9 |
819.7 |
151.2 |
737.0 |
|
|
|
|
|
|
|
|
Income Available to Com Incl ExtraOrd |
304.9 |
267.9 |
819.7 |
151.2 |
737.0 |
|
|
|
|
|
|
|
|
Basic Weighted Average Shares |
1,175.1 |
1,188.8 |
1,194.9 |
1,184.8 |
1,184.7 |
|
Basic EPS Excluding ExtraOrdinary Items |
0.26 |
0.23 |
0.69 |
0.13 |
0.62 |
|
Basic EPS Including ExtraOrdinary Items |
0.26 |
0.23 |
0.69 |
0.13 |
0.62 |
|
Dilution Adjustment |
- |
-1.4 |
-1.7 |
-0.7 |
-0.8 |
|
Diluted Net Income |
304.9 |
266.5 |
818.0 |
150.5 |
736.3 |
|
Diluted Weighted Average Shares |
1,181.2 |
1,194.9 |
1,208.2 |
1,196.5 |
1,189.9 |
|
Diluted EPS Excluding ExtraOrd Items |
0.26 |
0.22 |
0.68 |
0.13 |
0.62 |
|
Diluted EPS Including ExtraOrd Items |
0.26 |
0.22 |
0.68 |
0.13 |
0.62 |
|
DPS-Fully Paid Ord. Shrs |
0.19 |
0.16 |
0.45 |
0.08 |
0.28 |
|
Gross Dividends - Common Stock |
217.5 |
188.1 |
1,259.9 |
100.4 |
325.1 |
|
Normalized Income Before Taxes |
359.3 |
378.8 |
1,090.8 |
167.4 |
795.9 |
|
|
|
|
|
|
|
|
Inc Tax Ex Impact of Sp Items |
30.1 |
43.4 |
207.7 |
3.5 |
34.4 |
|
Normalized Income After Taxes |
329.2 |
335.4 |
883.1 |
163.9 |
761.5 |
|
|
|
|
|
|
|
|
Normalized Inc. Avail to Com. |
278.7 |
286.8 |
840.5 |
119.2 |
702.3 |
|
|
|
|
|
|
|
|
Basic Normalized EPS |
0.24 |
0.24 |
0.70 |
0.10 |
0.59 |
|
Diluted Normalized EPS |
0.24 |
0.24 |
0.69 |
0.10 |
0.59 |
|
Advertising and sales costs |
168.4 |
160.8 |
143.7 |
147.4 |
166.8 |
|
Finance charges |
34.4 |
- |
- |
- |
- |
|
Interest Expense |
- |
59.3 |
52.6 |
36.1 |
44.1 |
|
Amort of Intangibles |
18.3 |
18.4 |
18.2 |
29.9 |
31.6 |
|
Rental Expense |
445.4 |
457.5 |
436.7 |
387.4 |
338.7 |
|
Depreciation |
1,278.6 |
1,266.8 |
1,254.9 |
1,200.9 |
1,145.4 |
|
Current Tax - Total |
103.4 |
- |
- |
- |
- |
|
Current Tax |
- |
158.9 |
290.8 |
56.0 |
156.9 |
|
Overprovision in PY |
- |
-0.1 |
-5.6 |
-89.4 |
-0.5 |
|
Share of JV Co. Taxation |
- |
1.0 |
2.2 |
0.4 |
0.4 |
|
Share of Asso. Co. Taxation |
- |
10.9 |
9.5 |
9.2 |
8.3 |
|
Current Tax - Total |
103.4 |
170.7 |
296.8 |
-23.8 |
165.1 |
|
Deferred Tax - Total |
-70.9 |
- |
- |
- |
- |
|
Deferred Tax |
- |
-111.2 |
-95.3 |
-30.1 |
-26.7 |
|
Overprovision in PY |
- |
-18.4 |
1.4 |
58.1 |
-6.5 |
|
Deferred Tax - Total |
-70.9 |
-129.7 |
-94.0 |
28.0 |
-33.2 |
|
Adjustment for Statutory Tax Rate |
- |
- |
- |
0.0 |
-96.0 |
|
Income Tax - Total |
32.5 |
41.0 |
202.8 |
4.2 |
36.0 |
|
Defined Benefit Plan Costs |
23.0 |
20.7 |
10.2 |
13.2 |
10.2 |
|
Domestic Pension Plan Expense |
23.0 |
20.7 |
10.2 |
13.2 |
10.2 |
|
Defined Contribution Plans - Pension |
133.9 |
119.7 |
90.2 |
65.0 |
83.7 |
|
Total Pension Expense |
156.9 |
140.4 |
100.4 |
78.2 |
93.9 |
Annual Balance Sheet
Financials in: USD (mil)
|
|
31-Mar-2013 |
31-Mar-2012 |
31-Mar-2011 |
31-Mar-2010 |
31-Mar-2009 |
|
UpdateType/Date |
Updated Normal |
Updated Normal |
Reclassified
Normal |
Updated Normal |
Updated Normal |
|
Filed Currency |
SGD |
SGD |
SGD |
SGD |
SGD |
|
Exchange Rate |
1.240705 |
1.260191 |
1.2605 |
1.39805 |
1.5202 |
|
Auditor |
Ernst &
Young LLP |
Ernst &
Young LLP |
Ernst &
Young LLP |
Ernst &
Young LLP |
Ernst &
Young LLP |
|
Auditor Opinion |
Unaudited |
Unqualified |
Unqualified |
Unqualified |
Unqualified |
|
|
|
|
|
|
|
|
Technical Stocks |
200.3 |
224.6 |
251.2 |
263.6 |
252.2 |
|
Catering/Stocks |
21.3 |
18.3 |
14.9 |
12.2 |
46.6 |
|
Work in Progress |
- |
- |
- |
31.4 |
32.2 |
|
Trade debtors - Balancing value |
46.0 |
- |
- |
- |
- |
|
Deposits and other debtors |
44.2 |
- |
- |
- |
- |
|
Trade Debtors |
1,208.4 |
1,093.1 |
1,115.7 |
982.7 |
1,000.7 |
|
Impairment Allowance |
- |
-18.0 |
-19.4 |
-18.6 |
-23.5 |
|
Prepayments |
83.2 |
78.2 |
82.2 |
66.2 |
67.0 |
|
Amounts owing by subsidiary companies |
17.7 |
0.0 |
0.0 |
0.0 |
0.3 |
|
Derivative assets |
63.8 |
57.1 |
58.9 |
- |
- |
|
Investments |
281.6 |
496.0 |
315.6 |
100.6 |
431.3 |
|
Cash and bank |
296.0 |
- |
- |
- |
- |
|
Cash and bank balances |
- |
350.8 |
242.2 |
287.6 |
202.1 |
|
Fixed Deposits |
3,782.0 |
3,380.9 |
5,655.6 |
2,911.1 |
2,329.2 |
|
Deposits |
- |
11.3 |
12.0 |
12.2 |
133.7 |
|
Other Debtors |
- |
25.9 |
29.3 |
35.3 |
25.4 |
|
Total Current Assets |
6,044.5 |
5,718.1 |
7,758.2 |
4,684.2 |
4,497.1 |
|
|
|
|
|
|
|
|
Aircraft |
15,430.2 |
15,259.0 |
15,558.0 |
14,336.3 |
12,305.6 |
|
Aircraft Spares |
493.5 |
487.9 |
544.9 |
511.1 |
493.1 |
|
Spare Engines |
159.7 |
242.1 |
312.6 |
303.9 |
287.5 |
|
Freehold Land,Gross |
12.7 |
12.5 |
12.5 |
11.2 |
11.2 |
|
Freehold Buildings |
119.5 |
117.9 |
117.9 |
107.8 |
109.1 |
|
Land/Buildings, Gross |
505.3 |
- |
- |
- |
- |
|
Leasehold Land |
- |
490.1 |
489.8 |
410.4 |
916.7 |
|
Plant/Equipment |
634.8 |
574.8 |
533.3 |
535.7 |
907.7 |
|
Office Equip. |
219.1 |
220.1 |
225.1 |
236.1 |
266.3 |
|
Constr. in Prog. |
1,384.2 |
1,192.2 |
1,425.1 |
1,150.3 |
1,232.1 |
|
Acc Depr Aircraft |
-6,930.1 |
- |
- |
- |
- |
|
Acc Depr Aircraft Spares |
-288.1 |
- |
- |
- |
- |
|
Acc Depr Spare Engines |
-99.5 |
- |
- |
- |
- |
|
Acc Depr Freehold Land |
0.0 |
- |
- |
- |
- |
|
Acc Depr Freehold Buildings |
-94.1 |
- |
- |
- |
- |
|
Acc Depr Land & Buildings |
-347.9 |
- |
- |
- |
- |
|
Acc Depr Plant/Equipment |
-441.1 |
- |
- |
- |
- |
|
Acc Depr Office Equip. |
-201.3 |
- |
- |
- |
- |
|
Acc Depr Construction in Progress |
0.0 |
- |
- |
- |
- |
|
Depreciation |
- |
-7,978.0 |
-8,209.5 |
-6,827.9 |
-6,009.4 |
|
Goodwill |
- |
- |
- |
0.0 |
159.5 |
|
Accumulated Amortisation |
- |
- |
- |
0.0 |
-0.1 |
|
Computer Software, Gross |
380.6 |
- |
- |
- |
- |
|
Deferred Engine Development Costs, Gross |
37.0 |
- |
- |
- |
- |
|
Advance and Progress Payment, Gross |
33.4 |
- |
- |
- |
- |
|
Intangible Assets |
- |
385.1 |
344.1 |
274.5 |
429.5 |
|
Acc Amort Computer Software |
-274.9 |
- |
- |
- |
- |
|
Acc Amort Research & Development Costs |
0.0 |
- |
- |
- |
- |
|
Acc Amort Advance and Progress Payment |
0.0 |
- |
- |
- |
- |
|
Accumulated Amortisation |
- |
-259.5 |
-244.7 |
-216.7 |
-225.2 |
|
Investment Properties |
- |
- |
- |
0.0 |
10.7 |
|
Accumulated Depreciation |
- |
- |
- |
0.0 |
-6.1 |
|
Associated Comp. |
446.8 |
431.0 |
400.5 |
381.0 |
562.6 |
|
Joint Venture |
97.4 |
89.8 |
81.6 |
77.7 |
83.9 |
|
Long-Term Investments |
569.8 |
296.5 |
28.0 |
25.2 |
28.4 |
|
Receivables |
172.4 |
171.1 |
94.9 |
81.8 |
257.6 |
|
Deferred Account |
13.0 |
41.0 |
0.0 |
- |
- |
|
Investments in Co. Pending Incorporation |
- |
- |
- |
0.0 |
7.9 |
|
Total Assets |
18,076.9 |
17,491.8 |
19,472.0 |
16,082.6 |
16,325.8 |
|
|
|
|
|
|
|
|
Loans |
4.6 |
1.9 |
1.3 |
0.0 |
21.5 |
|
Finance lease commitments |
54.6 |
51.4 |
48.7 |
46.1 |
44.0 |
|
Bank Overdrafts |
- |
- |
- |
0.0 |
6.1 |
|
Notes Payables |
- |
0.0 |
714.0 |
0.0 |
131.6 |
|
Trade and other creditors |
2,580.1 |
2,289.7 |
2,162.4 |
1,787.3 |
2,355.9 |
|
Amounts owing to subsidiary companies |
- |
- |
- |
1.4 |
0.4 |
|
Sales in advance of carriage |
1,156.0 |
1,156.0 |
1,158.1 |
957.0 |
752.3 |
|
Deferred Revenue |
429.2 |
394.4 |
353.1 |
329.1 |
329.4 |
|
Current tax payable |
129.0 |
193.9 |
349.2 |
86.4 |
228.9 |
|
Derivative liabilities |
59.0 |
62.6 |
107.8 |
- |
- |
|
Provisions |
58.3 |
28.0 |
49.6 |
25.4 |
23.2 |
|
Total Current Liabilities |
4,470.8 |
4,177.9 |
4,944.3 |
3,232.8 |
3,893.4 |
|
|
|
|
|
|
|
|
Long-Term Liabilities |
- |
- |
- |
0.0 |
7.4 |
|
Notes Payable |
644.8 |
634.8 |
634.7 |
643.8 |
592.0 |
|
Leases |
113.3 |
167.1 |
218.8 |
267.8 |
316.8 |
|
Non-current |
3.1 |
6.3 |
2.7 |
- |
- |
|
Total Long Term Debt |
761.3 |
808.2 |
856.2 |
911.6 |
916.3 |
|
|
|
|
|
|
|
|
Maintenance reserve |
- |
- |
- |
0.0 |
- |
|
Provisions |
339.6 |
252.8 |
160.3 |
117.1 |
79.3 |
|
Minority Int. |
252.0 |
233.3 |
236.7 |
200.6 |
368.2 |
|
Deferred Taxes |
1,572.7 |
1,610.2 |
1,730.3 |
1,642.7 |
1,461.6 |
|
DEFERRED ACCOUNT |
118.2 |
178.1 |
275.4 |
343.8 |
443.3 |
|
Total Liabilities |
7,514.6 |
7,260.5 |
8,203.2 |
6,448.6 |
7,162.1 |
|
|
|
|
|
|
|
|
Share Capital |
1,496.0 |
1,472.9 |
1,453.7 |
1,252.2 |
1,108.3 |
|
Treasury Shares |
-217.5 |
-205.0 |
-34.1 |
-0.6 |
-29.2 |
|
Capital Reserve |
88.9 |
78.6 |
72.8 |
53.5 |
56.8 |
|
Foreign Currency Translation Reserve |
-154.6 |
-147.8 |
-147.6 |
-98.0 |
-90.7 |
|
Share-based Compensation Reserve |
122.3 |
131.6 |
136.9 |
132.5 |
123.2 |
|
Fair Value Reserve |
-21.8 |
-37.8 |
-109.5 |
-100.8 |
-434.7 |
|
General Reserve |
9,249.0 |
8,938.8 |
9,896.6 |
8,395.3 |
8,430.0 |
|
Total Equity |
10,562.3 |
10,231.3 |
11,268.9 |
9,634.1 |
9,163.7 |
|
|
|
|
|
|
|
|
Total Liabilities & Shareholders' Equity |
18,076.9 |
17,491.8 |
19,472.0 |
16,082.6 |
16,325.8 |
|
|
|
|
|
|
|
|
S/O-Fully Paid Ord. Shrs |
1,175.5 |
1,176.8 |
1,194.9 |
1,191.5 |
1,181.4 |
|
Total Common Shares Outstanding |
1,175.5 |
1,176.8 |
1,194.9 |
1,191.5 |
1,181.4 |
|
T/S-Fully Paid Ord. Shrs |
24.4 |
23.1 |
3.1 |
0.1 |
5.2 |
|
Sales in advance of carriage |
1,156.0 |
- |
- |
- |
- |
|
Deferred Revenue |
429.2 |
- |
- |
- |
- |
|
Deferred Revenue - Current |
- |
1,550.4 |
1,511.2 |
1,286.1 |
1,081.7 |
|
Deferred Revenue - Long Term |
118.2 |
178.1 |
275.4 |
343.8 |
443.3 |
|
Acc Amort Computer Software |
274.9 |
- |
- |
- |
- |
|
Acc Amort Research & Development Costs |
0.0 |
- |
- |
- |
- |
|
Acc Amort Advance and Progress Payment |
0.0 |
- |
- |
- |
- |
|
Amortisation of Intangible |
- |
259.5 |
244.7 |
216.7 |
225.2 |
|
Accumulated Amortisation of Goodwill |
- |
- |
- |
0.0 |
0.1 |
|
Full-Time Employees |
23,189 |
22,746 |
22,282 |
21,712 |
30,666 |
|
Number of Common Shareholders |
- |
45,077 |
33,629 |
27,092 |
25,304 |
|
Long Term Debt Maturing within 1 Year |
- |
53.3 |
764.1 |
46.1 |
179.6 |
|
Long Term Debt Maturing within 2 Years |
- |
- |
- |
- |
28.2 |
|
Long Term Debt Maturing within 3 Years |
- |
- |
- |
- |
612.6 |
|
Long Term Debt Maturing within 4 Years |
- |
- |
- |
- |
0.3 |
|
Long Term Debt Maturing within 5 Years |
- |
- |
- |
- |
0.1 |
|
Remaining Long Term Debt Maturities |
- |
801.9 |
853.5 |
911.6 |
1.4 |
|
Total Long Term Debt, Supplemental |
- |
855.3 |
1,617.5 |
957.7 |
822.2 |
|
Capital Lease Payments Due within 1 Year |
54.6 |
- |
- |
- |
- |
|
Capital Leases Maturing within 1 Year |
- |
51.4 |
48.7 |
46.1 |
56.0 |
|
Capital Leases Maturing within 2 Years |
- |
- |
- |
- |
57.4 |
|
Capital Leases Maturing within 3 Years |
- |
- |
- |
- |
58.7 |
|
Capital Leases Maturing within 4 Years |
- |
- |
- |
- |
59.9 |
|
Capital Lease Payments Due in Year 5 |
113.3 |
- |
- |
- |
- |
|
Capital Leases Maturing within 5 Years |
- |
150.2 |
185.9 |
196.9 |
60.4 |
|
Capital Leases - Remaining Maturities |
0.0 |
- |
- |
- |
- |
|
Remaining Capital Lease Maturities |
- |
16.9 |
32.9 |
70.9 |
124.0 |
|
Total Capital Leases, Supplemental |
168.0 |
218.5 |
267.5 |
313.9 |
416.5 |
|
Operating Leases Maturing within 1 Year |
587.5 |
499.5 |
516.9 |
445.9 |
430.5 |
|
Operating Leases Maturing within 5 Years |
1,712.1 |
1,658.0 |
1,436.7 |
1,293.9 |
1,262.7 |
|
Remaining Operating Lease Maturities |
758.9 |
804.2 |
425.7 |
392.4 |
619.8 |
|
Total Operating Leases, Supplemental |
3,058.5 |
2,961.7 |
2,379.4 |
2,132.3 |
2,313.0 |
Annual Cash Flows
Financials in: USD (mil)
|
|
31-Mar-2013 |
31-Mar-2012 |
31-Mar-2011 |
31-Mar-2010 |
31-Mar-2009 |
|
Period Length |
12 Months |
12 Months |
12 Months |
12 Months |
12 Months |
|
UpdateType/Date |
Updated Normal |
Updated Normal |
Updated Normal |
Updated Normal |
Reclassified
Normal |
|
Filed Currency |
SGD |
SGD |
SGD |
SGD |
SGD |
|
Exchange Rate
(Period Average) |
1.242806 |
1.253961 |
1.332147 |
1.427138 |
1.440254 |
|
Auditor |
Ernst &
Young LLP |
Ernst &
Young LLP |
Ernst &
Young LLP |
Ernst &
Young LLP |
Ernst &
Young LLP |
|
Auditor Opinion |
Unaudited |
Unqualified |
Unqualified |
Unqualified |
Unqualified |
|
|
|
|
|
|
|
|
Income before Taxes |
387.8 |
357.4 |
1,065.2 |
200.1 |
832.2 |
|
Depreciation |
1,278.6 |
1,266.8 |
1,254.9 |
1,200.9 |
1,145.4 |
|
Impairment |
- |
12.6 |
11.8 |
4.3 |
28.7 |
|
Amortisation of intangible assets |
18.3 |
18.4 |
18.2 |
29.9 |
31.6 |
|
Write-back of impairment of trade debtor |
-7.1 |
-0.2 |
-1.1 |
0.0 |
8.5 |
|
Write-down of inventories |
26.0 |
- |
- |
- |
- |
|
Provisions |
135.3 |
- |
- |
- |
- |
|
Income from short-term investments |
-1.4 |
-1.3 |
-1.3 |
-1.1 |
-1.2 |
|
Share Based Payments |
4.3 |
14.4 |
13.4 |
30.5 |
47.6 |
|
Exchange Differences |
4.2 |
5.7 |
8.6 |
-1.4 |
-2.4 |
|
Deferred Gain/Loss |
2.7 |
-14.6 |
-21.8 |
-45.3 |
-59.8 |
|
Finance Charges |
34.4 |
59.3 |
52.6 |
48.3 |
62.3 |
|
Interest Income |
-50.3 |
-40.3 |
-28.0 |
-34.7 |
-66.7 |
|
Dispose Aircraft |
- |
1.1 |
-77.5 |
-17.8 |
-42.1 |
|
Surplus on disposal of non-current asset |
- |
- |
- |
0.0 |
-1.5 |
|
Dividends |
-22.0 |
-14.4 |
-17.9 |
-23.1 |
-16.5 |
|
Other non-operating items |
-9.6 |
-38.9 |
-60.1 |
-24.0 |
-20.4 |
|
Share of profits of joint venture compan |
-77.4 |
-59.6 |
-56.0 |
-39.3 |
-44.4 |
|
Share of profits of associated companies |
-49.5 |
-41.0 |
-75.4 |
-65.2 |
-77.1 |
|
Impairment of property, plant and equipm |
7.9 |
- |
- |
- |
- |
|
Realized G/L on Fixed Assets |
-45.1 |
- |
- |
- |
- |
|
Exceptional items |
16.0 |
4.3 |
151.5 |
0.0 |
- |
|
Increase in trade and other creditors |
216.4 |
178.8 |
296.7 |
-28.7 |
-358.6 |
|
Decrease in sales in advance of carriage |
-18.1 |
-2.4 |
91.4 |
136.2 |
-372.6 |
|
Increase in trade debtors |
-202.5 |
-105.5 |
17.9 |
-4.6 |
297.6 |
|
Accounts Receivable |
-6.5 |
- |
- |
- |
- |
|
Deposits/Other Debtors |
- |
4.1 |
10.7 |
110.6 |
-111.3 |
|
Increase)/Decrease in prepayments |
-3.8 |
4.1 |
-8.3 |
0.4 |
2.1 |
|
Increase)/Decrease in inventories |
-0.9 |
23.4 |
30.0 |
17.0 |
39.2 |
|
Deferred Revenue |
28.6 |
41.4 |
-11.3 |
-28.5 |
45.2 |
|
Amount Owed By Associated company |
- |
0.0 |
-1.5 |
0.0 |
0.1 |
|
Amount Owed to Associated company |
- |
- |
0.0 |
1.0 |
-0.4 |
|
Income taxes paid |
-155.1 |
-314.9 |
-45.4 |
-87.6 |
-208.3 |
|
Payment of cargo fines |
-19.3 |
-1.0 |
-151.5 |
0.0 |
- |
|
Cash from Operating Activities |
1,492.1 |
1,357.9 |
2,466.1 |
1,377.7 |
1,157.4 |
|
|
|
|
|
|
|
|
Capital expenditure |
-1,509.0 |
-1,308.8 |
-918.7 |
-1,093.3 |
-1,410.2 |
|
Purchase of intangible assets |
-67.3 |
-44.7 |
-14.7 |
-23.7 |
-15.0 |
|
Purchase of long-term investments |
-293.2 |
-270.3 |
0.0 |
- |
- |
|
Sale of Fixed Assets |
521.2 |
394.8 |
541.5 |
118.1 |
620.2 |
|
Invest. Securities - Unclassified, Net |
249.8 |
-183.1 |
-194.9 |
373.8 |
-153.9 |
|
Disposal of Associates |
3.7 |
- |
- |
0.0 |
9.4 |
|
Investments in Associated Companies |
0.0 |
-43.5 |
-0.8 |
-0.7 |
0.0 |
|
Investment in Companies Pending Incorpor |
- |
- |
- |
0.0 |
-2.7 |
|
Acquisition of minority interests |
- |
- |
- |
0.0 |
-0.4 |
|
Acquisition of Subsidiary |
- |
- |
- |
0.0 |
-317.9 |
|
Dispose Subsidiary |
- |
- |
0.0 |
-211.5 |
0.0 |
|
Repay. Loan Assoc. |
- |
- |
0.0 |
3.2 |
1.9 |
|
Disposal of Shares in Subsidiary |
- |
- |
- |
0.0 |
0.2 |
|
Disposal of non-current assets |
- |
- |
- |
0.0 |
3.6 |
|
Dividend Received |
112.8 |
106.5 |
124.1 |
114.6 |
93.2 |
|
Return of capital by an associated compa |
0.0 |
38.4 |
0.0 |
- |
- |
|
Dividends-Invest. |
22.8 |
15.1 |
18.5 |
23.6 |
17.0 |
|
Interest received from investments and d |
- |
35.4 |
18.0 |
21.5 |
58.7 |
|
Interest-Assoc. |
- |
- |
- |
0.0 |
6.8 |
|
Interest Received |
36.9 |
- |
- |
- |
- |
|
Proceeds on disposal of associated compa |
- |
0.0 |
1.6 |
0.0 |
- |
|
Cash from Investing Activities |
-922.3 |
-1,260.3 |
-425.3 |
-674.5 |
-1,088.8 |
|
|
|
|
|
|
|
|
Dividends Paid |
-151.3 |
-1,241.8 |
-287.3 |
-166.0 |
-823.3 |
|
Dividends to Minority |
-45.4 |
-58.5 |
-34.6 |
-34.6 |
-51.7 |
|
Interest paid |
-27.5 |
-69.3 |
-52.0 |
-46.4 |
-48.5 |
|
Proceeds from Borrowings |
2.8 |
0.9 |
1.3 |
1.5 |
1.3 |
|
Repayment of borrowings |
-0.2 |
-0.3 |
0.0 |
-17.5 |
-10.6 |
|
LT Leases - Repayment |
-51.4 |
-48.8 |
-48.3 |
-46.9 |
-38.0 |
|
Issuance of Shares by Subsidiary |
- |
- |
0.0 |
0.7 |
6.1 |
|
Proceeds from exercise of share options |
30.8 |
52.4 |
67.1 |
74.1 |
35.1 |
|
Purchase of Treasury Shares |
-30.3 |
-217.0 |
-33.4 |
0.0 |
-44.5 |
|
Repayment of fixed rate notes |
0.0 |
-717.7 |
0.0 |
- |
- |
|
Proceeds from issuance of bonds |
- |
0.0 |
600.5 |
0.0 |
- |
|
Cash from Financing Activities |
-272.4 |
-2,300.2 |
213.3 |
-235.2 |
-974.0 |
|
|
|
|
|
|
|
|
Foreign Exchange Effects |
-10.2 |
24.2 |
-30.4 |
-24.4 |
16.5 |
|
Net Change in Cash |
287.2 |
-2,178.3 |
2,223.7 |
443.7 |
-888.9 |
|
|
|
|
|
|
|
|
Net Cash - Beginning Balance |
3,783.9 |
5,928.6 |
3,356.9 |
2,689.8 |
3,554.2 |
|
Net Cash - Ending Balance |
- |
3,750.3 |
5,580.6 |
3,133.5 |
2,665.3 |
|
Cash Interest Paid |
27.5 |
69.3 |
52.0 |
46.4 |
48.5 |
|
Cash Taxes Paid |
155.1 |
314.9 |
45.4 |
87.6 |
208.3 |
Financial
Health
Financials in: USD (mil)
Except for share items (millions) and per share items (actual units)
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Annual
Ratios
Financials in: USD (mil)
Except for share items (millions) and per share items (actual units)
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FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.61.69 |
|
UK Pound |
1 |
Rs.98.59 |
|
Euro |
1 |
Rs.83.67 |
INFORMATION DETAILS
|
Report
Prepared by : |
MNL |
RATING EXPLANATIONS
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
>86 |
Aaa |
Possesses an extremely sound financial base with the strongest
capability for timely payment of interest and principal sums |
Unlimited |
|
71-85 |
Aa |
Possesses adequate working capital. No caution needed for credit transaction.
It has above average (strong) capability for payment of interest and
principal sums |
Large |
|
56-70 |
A |
Financial &
operational base are regarded healthy. General unfavourable factors will not cause
fatal effect. Satisfactory capability for payment of interest and principal
sums |
Fairly Large |
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
|
11-25 |
Ca |
Adverse factors are apparent. Repayment of interest and principal sums
in default or expected to be in default upon maturity |
Limited with full
security |
|
<10 |
C |
Absolute credit risk exists. Caution needed to be exercised |
Credit not
recommended |
|
-- |
NB |
New Business |
-- |
This score serves as a reference to assess SC’s credit risk and
to set the amount of credit to be extended. It is calculated from a composite
of weighted scores obtained from each of the major sections of this report. The
assessed factors and their relative weights (as indicated through %) are as
follows:
Financial
condition (40%) Ownership
background (20%) Payment
record (10%)
Credit history
(10%) Market trend
(10%) Operational
size (10%)
This report is issued at your request without any
risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL)
or its officials.