AMIRAL HOLDINGS LTD.

- BVI
CONSOLIDATED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2014

AMIRAL HOLDINGS LTD. - BVI

CONSOLIDATED BALANCE SHEET
As of 31 December 2014
2014
USD

2013
USD

Non-current assets
Fixed assets
Projects under construction
Investments in associates
Investments available for sale
Total non-current assets

2,515,404
78,861,229
36291683
51,041
117,719,357

3,132,864
58,399,087
36,331,590
51,041
97,914,582

Current assets
Inventories
Accounts receivables
Prepayments and other receivables
Cash at banks
Total current assets

43,145
6,038,939
15,732,830
422,467,083
444,281,997

48,304
3,269,933
15,943,959
422,577,129
441,839,325

Current liabilities
Provisions
Accounts payable
Tax liability
Accrued expenses and other payables
Total current liabilities
Working capital
Total investment

8,390,826
18,812,594
41,571
4,061,318
31,306,309
412,975,688
530,695,045

8,673,682
20,584,831
159,397
2,993,977
32,411,887
409,427,438
507,342,020

Financed as follows:
Equity
Issued and paid up capital
Shareholders credit balance
Cumulative foreign currencies translation differences
Retained earnings
Net profit for the year
Total equity
Non controlling interest

50,000
99,775,413
(18,818,489)
429,954,041
18,898,630
529,859,595
607,626

50,000
74,852,031
1,139,055
411,560,896
18,393,145
505,995,127
1,112,541

Non-current liabilities
Deferred tax liability
Total non-current liabilities
Total finance of working capital and non-current assets

227,824
227,824
530,695,045

234,352
234,352
507,342,020

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AMIRAL HOLDINGS LTD. - BVI

CONSOLIDATED STATEMENT OF INCOME
For The Year Ended 31 December 2014
2014
USD

2013
USD

Operating revenue
Operating expenses
GROSS PROFIT

15,339,710
(9,083,070)
6,256,640

14,510,243
(8,406,698)
6,103,545

Investment income
General and administrative expenses
Reversal of impairment of accounts receivable
OPERATING (LOSS)

248,958
(7,616,853)
(1,111,256)

248,958
(7,825,490)
26,765
(1,446,222)

Bank charges
Provisions
Gain (loss) from sale of fixed assets
Interest income
Other income
Impairment in other receivables
Foreign exchange differences
PROFITS BEFORE INCOME TAX

(4,272)
204
16,552,177
3,290,597
64,053
18,791,503

(4,526)
(352,817)
(13,763)
16,559,374
3,290,597
(41,203)
260,058
18,251,498

Income tax
Deferred tax
PROFITS FOR THE YEAR BEFORE NONCONTROLING INTEREST

18,791,503

(117,388)
38,906
18,173,016

Non controlling interest

PROFITS FOR THE YEAR

-3-

107,127

220,129

18,898,630

18,393,145

AMIRAL HOLDINGS LTD. - BVI

CONSOLIDATED STATEMENT OF CHANGES IN EQUITY
For The Year Ended 31 December 2014

Balance as of 1 January 2013

Transferred to retained earnings
Shareholders credit balance
Cumulative foreign currencies translation differences
Net profits for the year
Balance as of 31 December 2013

Balance as of 1 January 2014

Transferred to retained earnings
Shareholders credit balance
Cumulative foreign currencies translation differences
Net profits for the year
Balance as of 31 December 2014

Retained
earnings

Net profit
for the year

Total

USD

Cumulative
foreign
currencies
translation
differences
USD

USD

USD

USD

50,000
______
50,000

35,956,486
38,895,545
__________
74,852,031

28,504
1,110,551
_______
1,139,055

363,269,470
48,291,426
_________
411,560,896

48,291,426
(48,291,426)
18,393,145
_________
18,393,145

447,595,886
38,895,545
1,110,551
18,393,145

50,000
______
50,000

74,852,031
24,923,382
__________
99,775,413

1,139,055
(19,957,544)
_______
(18,818,489)

411,560,896
18,393,145
_________
429,954,041

18,393,145
(18,393,145)
18,898,630
_________
18,898,630

505,995,127
24,923,382
(19,957,544)
18,898,630

Issued and
Paid up
Capital

Shareholders
credit balance

USD

-4-

505,995,127

529,859,595

of consol

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