Annual Report 2019
FAR EAST CONSORTIUM INTERNATIONAL LIMITED 156 For the year ended 31 March 2019 CONSOLIDATED STATEMENT OF CHANGES IN EQUITY Attributable to owners of the Company Share capital Share premium Capital redemption reserve Assets revaluation reserve FVTOCI reserve Exchange reserve Share options reserve Hedging reserve Other reserve Retained profits Total Non- controlling interests Total HK$’000 HK$’000 HK$’000 HK$’000 HK$’000 HK$’000 HK$’000 HK$’000 HK$’000 HK$’000 HK$’000 HK$’000 HK$’000 At 1 April 2018 (restated) 230,179 4,297,682 28,458 54,727 – (28,339) 1,241 (22,170) 1,057,764 7,436,984 13,056,526 176,202 13,232,728 Profit for the year – – – – – – – – – 1,713,659 1,713,659 55,066 1,768,725 Exchange differences arising on translation of foreign operations – – – – – (762,995) – – – – (762,995) (12,082) (775,077) Fair value adjustment on cross currency swap contracts designated as cash flows hedge – – – – – – – 23,154 – – 23,154 – 23,154 Fair value change of equity instruments at fair value through other comprehensive income – – – – (298,100) – – – – – (298,100) – (298,100) Other comprehensive (expense) income for the year – – – – (298,100) (762,995) – 23,154 – – (1,037,941) (12,082) (1,050,023) Total comprehensive (expense) income for the year – – – – (298,100) (762,995) – 23,154 – 1,713,659 675,718 42,984 718,702 Dividends recognised as distribution (note 13) – – – – – – – – – (506,247) (506,247) – (506,247) Shares issued in lieu of cash dividend 6,202 231,613 – – – – – – – – 237,815 – 237,815 Shares issued upon exercise of share options 150 4,917 – – – – (1,241) – – – 3,826 – 3,826 Repurchase of ordinary shares (1,362) (54,562) 1,362 – – – – – – – (54,562) – (54,562) At 31 March 2019 235,169 4,479,650 29,820 54,727 (298,100) (791,334) – 984 1,057,764 8,644,396 13,413,076 219,186 13,632,262 Other reserve mainly comprise (a) credit balance of HK$1,038,709,000 recognised in respect of the group reorganisation in 1991, representing the excess of the value of the net assets of the subsidiaries acquired and the nominal value of the shares issued by the Company for the acquisition; (b) credit balance of HK$440,192,000 recognised in the year ended 31 March 2010 in respect of the gain on decrease in interest in a former non-wholly owned listed subsidiary, Dorsett Hospitality International Limited (“Dorsett”); (c) a debit balance of HK$3,097,000 and HK$1,416,000 recognised in the years ended 31 March 2013 and 31 March 2017 in respect of the excess of the consideration paid over the net assets attributable to the additional interest in an indirect subsidiary, Care Park Group Pty Limited, acquired; (d) a credit balance of HK$6,415,000 recognised in the year ended 31 March 2014 in respect of the excess of the net assets attributable to the additional interest in an indirect subsidiary, Dorsett, acquired over the consideration; (e) a debit balance of HK$746,000 recognised in the year ended 31 March 2015 in respect of the excess of consideration paid over the net assets attributable to the additional interest in an indirect subsidiary, Dorsett, acquired; (f) credit balance of HK$23,568,000 representing the difference between the Group’s interest in the net assets acquired from shareholders of non-wholly owned subsidiaries and the consideration paid for the acquisition of remaining interests in Dorsett and the transfer of the net amount of HK$445,861,000 previously recognised for Dorsett in other reserve, to retained profits arising from the acquisition in the year ended 31 March 2016.
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