Consolidated
Statement of Changes in Shareholders' Equity
Year ended
December 31, 2004
| |
Notes |
Share capital
US$ 000 |
Treasury shares
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, 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 charges in fair
values |
17 |
- |
- |
- |
- |
- |
10,383 |
10,383 |
| Foreign currency translation adjustments |
|
- |
- |
- |
- |
2,905 |
- |
2,905 |
| Donations to charities |
|
- |
- |
- |
- |
(100) |
- |
(100) |
| Transfers to statutory reserve and general
reserve |
15,
16 |
- |
- |
3,624 |
3,624 |
(7,248) |
- |
- |
|
|
|
|
|
|
|
|
|
| Balances at December 31, 2003 |
|
200,000 |
(13,999) |
24,103 |
4,588 |
38,904 |
6,676 |
260,272 |
| Dividends |
|
- |
- |
- |
- |
(26,741) |
- |
(26,741) |
| Net income for the year |
|
- |
- |
- |
- |
43,313 |
- |
43,313 |
| Net movement in cumulative changes in fair
values |
17 |
- |
- |
- |
- |
- |
3,034 |
3,034 |
| Foreign currency translation adjustments |
|
- |
- |
- |
- |
358 |
- |
358 |
| Directors' remuneration |
|
- |
- |
- |
- |
(265) |
- |
(265) |
| Donations |
|
- |
- |
- |
- |
(250) |
- |
(250) |
| Transfers to statutory reserve and general
reserve |
15,
16 |
- |
- |
4,331 |
4,331 |
(8,662) |
- |
- |
|
|
|
|
|
|
|
|
|
| Balance at December 31, 2004 |
200,000 |
(13,999) |
28,434 |
8,919 |
46,657 |
9,710 |
279,721 |
The foreign
currency translation adjustments represent 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 December 31, 2004
include (a) positive balance of US$ 6.8 million (2003: US$ 6.3 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 (2003: 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:
- Proposed dividend of 15% per share (2003: 14% per share)
representing US$ 0.0375 per share (2003: US$ 0.035 per share).
- Donations to charities amounting to US$ 325 thousand (2003: US$
250 thousand).
- Director remuneration of US$ 265 thousand (2003:US$ 265
thousand).
|
|
