SBS TRANSIT LTD ANNUAL

Financial Statements

SBS TRANSIT LTD Company Registration No.: 199206653M Full Year Financial Statements and Dividend Announcement The Board of Directors announces the audited results for the year ended 31 December 2018. 1 GROUP INCOME STATEMENT Group Full Year Full Year Incr/ 2018 2017 (Decr) $'000 $'000 % Revenue 1 ,383,613 1 ,191,717 1 6.1 Staff costs 7 05,519 6 28,553 1 2.2 Repairs and maintenance costs 1 73,219 1 51,684 1 4.2 Fuel and electricity costs 1 71,844 1 31,076 3 1.1 Premises costs 6 4,155 5 7,128 1 2.3 Depreciation expense 9 3,136 9 6,925 ( 3.9) Other operating costs 7 8,439 6 7,008 1 7.1 Total operating costs 1 ,286,312 1 ,132,374 1 3.6 Operating profit 9 7,301 5 9,343 6 4.0 Net income from investments 2 74 2 42 1 3.2 Finance costs ( 3,390) ( 4,482) ( 24.4) Profit before taxation 9 4,185 5 5,103 7 0.9 Taxation ( 14,083) ( 7,975) 7 6.6 Profit attributable to shareholders 8 0,102 4 7,128 7 0.0 Page 1 of 18 2 STATEMENTS OF FINANCIAL POSITION Group Company 31 Dec 31 Dec 1 Jan 31 Dec 31 Dec 1 Jan 2018 2017 2017 2018 2017 2017 $'000 $'000 $'000 $'000 $'000 $'000 ASSETS Current assets Short-term deposits and bank balances 3 2,711 5 ,275 4 ,254 3 1,785 4 ,028 3 ,446 Investments - 5 ,134 - - 5 ,134 - Trade receivables 1 23,509 1 22,582 7 7,238 1 20,225 1 19,470 7 6,284 Other receivables and prepayments 5 6,466 3 1,701 1 9,274 2 59,551 1 99,599 1 28,408 Inventories 1 17,142 9 4,012 5 9,695 9 9,102 8 2,997 5 3,000 Total current assets 3 29,828 2 58,704 1 60,461 5 10,663 4 11,228 2 61,138 Non-current assets Subsidiary - - - 5 ,000 5 ,000 5 ,000 Investments - - 5 ,268 - - 5 ,268 Prepayments 6 ,021 2 ,537 2 ,527 5 ,889 2 ,506 2 ,519 Vehicles, premises and equipment 7 05,304 8 03,844 8 66,186 6 85,463 7 83,821 8 51,924 Deferred tax assets 2 1,680 2 2,737 2 0,354 - - - Total non-current assets 7 33,005 8 29,118 8 94,335 6 96,352 7 91,327 8 64,711 Total assets 1 ,062,833 1 ,087,822 1 ,054,796 1 ,207,015 1 ,202,555 1 ,125,849 LIABILITIES AND EQUITY Current liabilities Borrowings - 5 6,000 1 50,000 - 5 6,000 1 50,000 Trade and other payables 2 93,771 2 72,302 2 41,948 2 53,450 2 40,764 2 14,181 Deposits received 2 ,588 3 ,648 4 ,967 2 ,259 3 ,271 4 ,301 Insurance premiums payable and provision for accident claims 1 9,533 2 1,965 2 4,799 1 9,533 2 1,965 2 4,799 Fuel price equalisation account 1 9,992 1 9,992 1 9,992 1 9,992 1 9,992 1 9,992 Income tax payable 3 1,394 9 ,309 6 7 3 1,