For Analysis

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For Analysis

  1. 1. SHANG PROPERTIES, INC. December 31BALANCE SHEET 2008 2007ASSETSCurrent AssetsCash and cash equivalents P1,090,553,882 P781,707,888Financial assets at the fair value through profit or loss P23, 350,378 P1,277,885Receivables – net P433,450,049 P530,303,365Properties held for sale: Condominiums unit held for sale P403,825,023 P524,700,046 Real estate properties held for sale P3,193,247 P4,626,492Prepayments and other current assets P1,476,147 P1,729,834Total Current Assets P1,955,848,726 P1,844,345,510Noncurrent AssetsInstallment contacts receivable – net of P22,341,555 P6,213,964current portionInvestments in shares of stock and advances to P9,868,437,006 P6,740,042,697subsidiaries and associatesInvestment Properties P8,530,240,000 P,530,240,000Property and equipment P7,593,998 P8,767,756Available-for-sale financial assets P9,786,515 P9,326,515Deferred income tax assets P23,184,985 P32,343,669,Goodwill P27,941,765 P27,941,765Other noncurrent assets P254,475 -
  2. 2. SHANG PROPERTIES, INC. December 31Total Noncurrent Assets P18,489,780,295 P15,354,876,366TOTAL ASSETS P20,445,629,021 P17,199,221,876LIABILITIES AND EQUITYCurrent LiabilitiesAccounts payable and other current liabilities P2,410,385,077 P2,368,678,538Income Tax Payable P2,320,953 P8,776,769Dividend payable P12,093,046 P13,657,750Total Current Liabilities P2,424,799,076 P2,391,113,057Noncurrent LiabilitiesBank loan P3,200,000,000Accrued employee benefits P21,468,092 P21,396,603Deffered income tax liabilities P2,539,683,741 P2,595,147,124Total Noncurrent Liabilities P5,761,151,833 P2,615,543,727Total Liabilities P8,185,950,909 P5,009,656,784
  3. 3. SHANG PROPERTIES, INC. December 31EquityCapital Stock P4,764,058,982 P4,764,058,982Additional paid-in capital P1,210,073,869 P1,210,073,869Treasury shares P6,850,064 P6,850,064Cumulative changes in fair value of P220,500 (94,250)available-for-sale financial assetsRetained earnings P6,292,174,825 P6,222,376,555Total Equity P12,259,678,112 P12,189,565,092TOTAL LIABLITIES AND EQUITY P20,445,629,021 P17,199,221,876
  4. 4. SHANG PROPERTIES, INC. December 31INCOME STATEMENT 2008 2007REVENUESRental P177,335,502 P170,345,218Dividends P346,507,143 P107,081,545Interest Income P35,257,684 P41,350,978Sale of condominium units P236,135,431 P47,266,716Gain on sale of financial assets of fair value P25,548,137 - Through profit or lossForeign exchange gain P1,391,804 -Others P22,152,214 P23,770,613 P844,327,915 P389,815,070EXPENSESCost of condominium sales P120,875,024 P30,779,953Cost of memorial lots sold P1,433,245 P611,828Interest expense P136,648,592 -Staff costs P64,141,597 P50,322,456General and Administrative P40,286,868 P49,693,034Taxes and licenses P31,939,464 P18,073,060Depreciation and amortization P6,450,694 P6,897,390Bank charges P1,067,993 -Foreign exchange loss – net - P4,603,016 P402,843,477 P160,980,737
  5. 5. SHANG PROPERTIES, INC. December 31INCOME BEFORE INCOME TAX P441,484,438 P228,838,333PROVISION FOR INCOME TAX P41,685,164 P35,785,394NET INCOME FOR THE YEAR P399,799,274 P193,048,939

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