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financial
review
Balance Sheets
2018
$’000
2017
$’000
Changes
%
Explanatory Notes
Non-current assets
Property, plant and equipment
230,341
113,410 103% Increase in vessels and dry-
docking expenditure from the
acquisition of CHO
Intangible assets
1,551
1,810 -14%
Investment in associates
4,979
- NM
Acquisition of CHO
Loan to associates
3,406
- NM
Investment securities
2,491
2,388 4%
Deferred tax assets
-
17 -100%
242,768 117,625
Current assets
61,811
91,248 -32% Mainly due to reduction of cash
and short-term deposits of $47.1
million for the acquisition of CHO
Current liabilities
(18,858)
(6,315)
199%
Net current assets
42,953
84,933 -49%
Non-current liabilities
Deferred tax liabilities
(5,545)
(44)
NM
Acquisition of CHO
Loans and borrowings
(4,067)
- NM
(9,612)
(44)
NM
Net assets
276,109 202,514 36%
Share capital
108,788 108,788 -
Reserves
112,041
93,726 20% Increase due to net profit for the
year
Shareholders’ equity
220,829 202,514 9%
Non-controlling interests
55,280
- NM Relates to the 45.02% minority
shareholders of CHO
Total equity
276,109 202,514 36%
* NM denotes Not Meaningful
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B A K E R T E C H N O L O G Y
L I M I T E D