01-05-2017, 02:42 AM
Perhaps someone here can help me with something I just can't figure out:
In the recent announcement on the acquisition of the remaining 20% stake in BBR Construction Systems (M):
"Based on the financial statements of BBRM as at 31 December 2016, the book value and net tangible asset value of the Sale Shares is approximately S$3,856,000. The net profit attributable to the Sale Shares amounts to approximately S$1,152,000 for the financial year ended 31 December 2016 (“FY2016”). "
BUT in AR16, Page 75,
the table clearly states that the profit attributable to the NCI of BBRM is $790,000
and the the net assets of the entire BBRM is $18,793,000. Which means the 20% NCI should be $3,758,6000
So to summarize:
20% NCI book value in AR: $3,758,6000, in the acquisition announcement it's "approximately S$3,856,000"
20% NCI profit attributable in AR: $790,000, in the acquisition announcement it's " approximately S$1,152,000"
Perhaps the book value part is close enough to be "approximately"
But the Profit part is quite far away isn't it?
Any pros here can enlighten me? I can't figure this out.
In the recent announcement on the acquisition of the remaining 20% stake in BBR Construction Systems (M):
"Based on the financial statements of BBRM as at 31 December 2016, the book value and net tangible asset value of the Sale Shares is approximately S$3,856,000. The net profit attributable to the Sale Shares amounts to approximately S$1,152,000 for the financial year ended 31 December 2016 (“FY2016”). "
BUT in AR16, Page 75,
the table clearly states that the profit attributable to the NCI of BBRM is $790,000
and the the net assets of the entire BBRM is $18,793,000. Which means the 20% NCI should be $3,758,6000
So to summarize:
20% NCI book value in AR: $3,758,6000, in the acquisition announcement it's "approximately S$3,856,000"
20% NCI profit attributable in AR: $790,000, in the acquisition announcement it's " approximately S$1,152,000"
Perhaps the book value part is close enough to be "approximately"
But the Profit part is quite far away isn't it?
Any pros here can enlighten me? I can't figure this out.