Annual and transition report of foreign private issuers pursuant to Section 13 or 15(d)

9. Discontinued Operations (Tables)

v3.8.0.1
9. Discontinued Operations (Tables)
12 Months Ended
Dec. 31, 2017
SIM [Member]  
Statement Line Items [Line Items]  
Summary of operations for discontinued entities

Rental income   $ 65,110  
Other revenues     9,021  
Expenses     (96,857 )
Operating (loss)/income     (22,726 )
Finance costs     (18,564 )
Loss before tax from discontinued operations     (41,290 )
Deferred tax expense     (15,488 )
Net loss from discontinued operations     (56,778 )
Loss on foreign currency exchange on discontinued operation     (248,359 )
Loss from discontinued operations   $ (305,137 )

 

Loss per share:      
Basic loss per share from discontinued operations   $ (0.13 )
Diluted loss per share from discontinued operations   $ (0.13 )

 

Net cash flows from discontinued operations

Operating   $ 377,117  
Investing     (1,339 )
Financing     (389,425 )
Net cash outflow   $ (13,647 )

 

Condensed statement of financial position from discontinued operations

Investment properties   $ 2,672,288  
Other current assets     (255,710 )
Total assets   $ 2,416,578  
         
Stockholder's equity   $ 912,255  
Loans & borrowings     1,382,295  
Other Liabilities     122,028  
Total equity and liabilities   $ 2,416,578  

 

Nova [Member]  
Statement Line Items [Line Items]  
Summary of operations for discontinued entities

The results of Nova for the year ended December 31, 2017, 2016 and 2015 are presented below:

 

(in US $)   2017     2016     2015  
Rental income   $ 167,940     $ 128,261     $ 205,355  
Other revenues     24,842       2,766       2,479  
Expenses     (318,211 )     (149,000 )     (173,275 )
Net fair value loss on revaluation of investment property     (84,150 )     (71,968 )     (1,436,932 )
Operating (loss)/income     (209,579 )     (89,941 )     (1,402,373 )
                         
Finance costs     (146,249 )     (213,108 )     (213,864 )
Loss before tax from discontinued operations     (355,828 )     (303,049 )     (1,616,237 )
                         
Tax expenses, current     144       71,772       63,276  
Deferred tax (expense)/credit     (8,250 )     5,830       410,051  
Net loss from discontinued operations     (363,934 )     (225,447 )     (1,142,910 )
                         
Loss on sale of subsidiary     (135,200 )            
Loss on foreign currency exchange on discontinued operation     (254,935 )            
                         
Loss from discontinued operations   $ (754,069 )   $ (225,447 )   $ (1,142,910 )

   

Loss per share:   2017     2016     2015  
                   
Basic loss for the year from discontinued operations   $ (0.39 )   $ (0.12 )   $ (0.50 )
Diluted loss for the year from discontinued operations   $ (0.39 )   $ (0.12 )     (0.50 )

 

Net cash flows from discontinued operations
    2017     2016     2015  
Operating   $ 61,784     $ (92,130 )   $ (43,269 )
Investing           162,769       (3,400 )
Financing     (46,376 )     (69,770 )     40,416  
Net cash inflow/(outflow)   $ 15,408     $ 869     $ (6,253 )
Condensed statement of financial position from discontinued operations
Investment properties   $ 5,806,528  
Other current assets     68,884  
         
Total assets   $ 5,875,412  
         
Stockholder's equity   $ 166,246  
Loans & borrowing     4,853,590  
Other liabilities     855,576  
Total equity and liabilities   $ 5,875,412