110
111
BAKER TECHNOLOGY LIMITED ANNUAL REPORT 2012
BAKER TECHNOLOGY LIMITED ANNUAL REPORT 2012
4. Segment information
Formanagement purposes, theGroup is organised intobusiness units basedon their products and services, and
has three reportable operating segments as follows :
(i)
Themarine offshore segment is essentially theGroup’s principal business activity. This segment consists of
SeaDeep Shipyard Pte. Ltd. and its subsidiary. Collectively, they are themanufacturers and providers of
specialisedmarine offshore equipment and services for the oil and gas industry.
(ii) The investments segment relates to the Group’s 49% interest in York Transport Equipment (Asia) Pte Ltd,
which is in the business of manufacturing and distribution of trailer axles and related components and the
Group’s 20% interest in DiscoveryOffshore S.A. and the recognition of the deferred gain on disposal of
subsidiary.
(iii) The corporate segment is involved inGroup-level corporate services and treasury functions.
Except as indicated above, no operating segments have been aggregated to form the above reportable
operating segments.
Management monitors the operating results of its business units separately for the purpose of making decisions
about resourceallocationandperformanceassessment. Segment performance is evaluatedbasedonoperating
profit or loss which in certain respects, as explained in the table below, is measured differently from operating
profit or loss in the consolidated financial statements.
Transfer prices betweenoperating segments, if any, areonarm’s lengthbasis inamanner similar to transactions
with third parties.
4. Segment information (cont’d)
Marineoffshore
Investments
Corporate
Adjustmentsand
elimination
Perconsolidated
financialstatements
2012 2011 2012 2011 2012 2011 2012 2011 2012
2011
$
$
$
$
$
$
$
$
$
$
Revenue
– external
customers
98,244,113 81,147,126
–
–
–
–
–
– 98,244,113 81,147,126
Results:
EBITDA*
21,534,163 21,098,947
–
– (4,827,376) (8,100,401)
(600,000)
(600,000) 16,106,787 12,398,546
Depreciation and
amortisation
(1,400,791) (1,704,547)
–
–
(13,062)
(12,041)
–
– (1,413,853) (1,716,588)
Interest expense
(121,913)
(20,621)
–
–
–
–
–
–
(121,913)
(20,621)
Interest income
28,883 49,467
–
– 480,855 165,803
–
–
509,738 215,270
Dividend income
fromassociates
–
–
– 101,170
–
–
– (101,170)
–
–
Recognition of
deferredgain
on disposal of
subsidiary
–
– 58,237,148
–
–
–
–
– 58,237,148
–
Gain on disposal
of associates
–
– 10,894,451
–
–
–
–
– 10,894,451
–
Share of results
of associates
–
–
586,800 (246,906)
–
–
–
–
586,800 (246,906)
Segment profit/
(loss)
20,040,342 19,423,246 69,718,399 (145,736) (4,359,583) (7,946,639)
(600,000)
(701,170) 84,799,158 10,629,701
Segment
assets
84,930,613 87,172,645 32,019,623 30,476,451 175,534,988 149,725,428
–
– 292,485,224 267,374,524
Segment
liabilities
21,198,109 35,772,483
–
– 3,144,222 59,810,784
–
– 24,342,331 95,583,267
Other segment
information:
Available-for-sale
investment
–
–
– 20,118,028
–
–
–
–
– 20,118,028
Investment in
associates
–
– 32,019,623 10,358,423
–
–
–
– 32,019,623 10,358,423
Additions to non-
current assets
391,539 372,200
–
–
2,778
9,159
–
–
394,317 381,359
* Earnings before interest, taxation, depreciation and amortisation
for the financial year ended 31december 2012
for the financial year ended 31december 2012
notestothe
financialstatements
notestothe
financialstatements
