Consolidated
Statement of Changes in Shareholders' Equity
for the year ended
31 December 2003
| |
Notes |
Share capital
US$ 000 |
Treasury capital
US$ 000 |
Statutory reserve
US$ 000 |
General reserve
US$ 000 |
Retained Earnings
US$ 000 |
Fair value reserve
US$ 000 |
Total
US$ 000 |
|
 |
|
|
|
|
|
|
|
| Balance at December 31, 2001 |
|
200,000 |
-17,114 |
19,515 |
- |
-4,580 |
2,035 |
200,126 |
| Net income for the year |
|
- |
- |
- |
- |
9,641 |
- |
9,641 |
| Net movement in cumulative charges in value |
17 |
- |
- |
- |
- |
- |
-6,012 |
-6,012 |
| Foreign currency translation adjustment |
|
- |
- |
- |
- |
-3,419 |
- |
-3,419 |
| Reissuance of treasury shares |
|
- |
3,115 |
- |
- |
557 |
- |
-3,672 |
| Transfers to statutory reserve and general
reserve |
15,
16 |
- |
- |
964 |
964 |
-1,928 |
- |
- |
|
|
|
|
|
|
|
|
|
| Balances at 31 December 2002 |
|
200,000 |
-13,999 |
20,479 |
964 |
7,109 |
-3,707 |
210,846 |
| Net income for the year |
|
- |
- |
- |
- |
36,238 |
- |
36,238 |
| Net movement in cumulative changes in fair
values |
17 |
- |
- |
- |
- |
- |
10,383 |
10,383 |
| Foreign currency translation adjustment |
|
- |
- |
- |
- |
2.905 |
- |
2,905 |
| Donations |
|
- |
- |
- |
- |
-100 |
- |
-100 |
| Transfers to statutory reserve and general
reserve |
15,
16 |
- |
- |
3,624 |
3,624 |
-7,248 |
- |
- |
|
|
|
|
|
|
|
|
|
| Balance at 31 December 2003 |
200,000 |
-13,999 |
24,103 |
4,588 |
38,904 |
6,676 |
260,727 |
The foreign
currency translation adjustment represents the net foreign exchange
translation gain arising from translating the financial statements of
the Bank’s foreign subsidiaries and associates’ operations
into US Dollars. Retained earnings at 31 December 2003 include
(a) positive balance of US$ 6.3 million (2002: US$ 3.4 million)
representing net unrealised gains on translation of investments in
foreign currencies into US dollars, and (b) non-distributable reserves
amounting to US$ 11 thousand (2002: US$ 11 thousand) relating to net
gain on reissuance of treasury shares. The directors have
proposed the following appropriations to the Annual General Meeting from
retained earnings:
- The directors have proposed the following appropriations to the
Annual General Meeting from retained earnings:
- Donations to charities amounting to US$ 250 thousand.
- Directors’ remuneration US$ 265 thousand.
|
|
