Disclosure

Investor Relations (IR)
2021.06.01

Notification of Parent Company’s Financial Results

#Investor Relations #timely disclosure

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June 1, 2021
Name of company:Nippon Paint Holdings Co., Ltd. Representative:Yuichiro Wakatsuki
Representative Executive Officer & Co-President
Wee Siew Kim
Representative Executive Officer & Co-President
(Securities Code: 4612, TSE 1st Section)
Contact:Ryosuke Tanaka,
General Manager of Investor Relations
(TEL+81-(0)50-3131-7419)

Notification of Parent Company’s Financial Results

Nippon Paint Holdings Co., Ltd. (“NPHD”) announces the FY 2020 financial results of NPHD’s Parent Company, NIPSEA International Limited. As of today, NIPSEA International Limited fall under parent company of NPHD, as announced in the press release dated January 25, 2021, titled “Notice of Completion of Acquisition of Additional Equity Interests in the Company’s Joint Ventures with the Wuthelam Group in the Asia Region and Acquisition of an Equity Interest in the Indonesia Business (Conversion to Subsidiary), Completion of Pay-In Procedures for Issuance of New Shares Through a Third-Party Allotment, and Change in Parent Company.”

1. Corporate Overview

Company NameNIPSEA International Limited
AddressSuites 3203 and 3204, 32nd Floor, Tower 2, Nina Tower, No.8 Yeung Uk Road, Tsuen Wan, New Territories, Hong Kong
RepresentativeDirector, Leung Ho Foon
Main businessInvestment Business
CapitalHK $1,450 million

2. Status of Shares of NIPSEA International Limited

(1) Status, by Type of Holder

(As of December 31, 2020)

ClassificationSharesNumber of fractional shares (shares)
Governments / Local GovernmentsFinancial institutionsFinancial instruments operatorsOther corporationsForeign corporations, etc.Individuals & OthersTotal
Excl. individualsIndividuals
Number of shareholders (persons)----1--1-
Number of shares held (shares)----1,450,000,000--1,450,000,000-
Percentage of shares held (%)----100.00--100.00-

(2) Major Shareholders

(As of December 31, 2020)

Name or trade nameAddressNumber of shares held (shares)Percentage to total number of shares issued (%)
NIPSEA Holdings International LimitedSuites 3203 and 3204, 32nd Floor, Tower 2, Nina Tower, No.8 Yeung Uk Road, Tsuen Wan, New Territories, Hong Kong1,450 million100.00
Total-1,450 million100.00

3. Board of Directors

(As of filing date)

ResponsibilitiesNameDate of birthBiographyNumber of shares held (shares)
DirectorLeung Ho FoonOct. 9, 1949
Nov. 2016
Director, NIPSEA International Limited (present)
Nov 2020
Director, Wuthelam Holdings Limited (present)
Nov 2020
Director, NIPSEA Holdings International Limited (present)
-
DirectorGoh Hup JinApr. 6, 1953
Jun. 1984
Managing Director, Wuthelam Holdings Limited (present)
Sept. 1987
Director, NIPSEA Holdings International Limited (present)
Dec. 1993
Managing Director, NIPSEA Pte. Limited (present)
Oct. 2009
Director, NIPSEA Management Company Pte. Limited (present)
Aug. 2012
Director, NIPSEA International Limited (present)
Dec. 2013
Director, Rainbow Light Limited (present)
Dec. 2014
Director of the Board, the Company
Mar. 2018
Chairman of the Board
Mar. 2019
Director of the Board
Apr. 2021
Chairman (present)
-
DirectorCheung Man CheoJan. 23, 1934
Oct. 2002
Director, Wuthelam Holdings Limited (present)
Sept. 2007
Director, NIPSEA Holdings International Limited (present)
Nov. 2016
Director, NIPSEA International Limited (present)
-
Managing DirectorLavoo Martin Yuen AnFeb. 12, 1987
Nov. 2016
Director, NIPSEA International Limited (present)
-
DirectorSim Gaik HeokAug. 22, 1967
Mar. 2019
Director, NIPSEA International Limited (present)
-
DirectorNg Kwok Kam CeciliaFeb. 25, 1967
Mar. 2021
Director, Wuthelam Holdings Limited (present)
Mar. 2021
Director, NIPSEA International Limited (present)
-

4. Financial Statements

(1) Balance Sheet

(Unit: one thousand HKD)


FY2020FY2019
  • Non-current assets
  • Plant and equipment
  • Investment in an associate
  • Investment in a subsidiary
  • Long-term investment

  • 93
  • 107,968,580
  • 76,613
  • 1,461

  • 141
  • 51,346,039
  • 76,613
  • 1,461
108,046,74851,424,255
  • Current assets
  • Deposits, prepayments and other receivables
  • Amount due from a subsidiary
  • Pledged bank deposit
  • Cash and cash equivalents

  • 128
  • 17,544
  • 250
  • 249,334

  • 521
  • 14,645
  • -
  • 90,609
267,256105,776
  • Current liabilities
  • Accrued expenses
  • Amount due to immediate parent
  • Amount due to intermediate holding company

  • 4,551
  • 570,725
  • 12,480,087

  • 454
  • 571,027
  • 12,708,236
13,055,36313,279,719
  • Net current liabilities
(12,788,106)(13,173,942)
  • Net Assets
95,258,64138,250,312
  • Capital and reserve
  • Share capital
  • Accumulated profits

  • 1,450,000
  • 93,808,641

  • 1,450,000
  • 36,800,312
  • Total Equity
95,258,64138,250,312

Note: Amounts are rounded down.

(2) Statement of profit or loss and other comprehensive income

(Unit: one thousand HKD)


FY2020FY2019
Revenue415,512409,178
Other income2,9182,663
Administrative expenses(4,064)(2,222)
Other operating expenses(7,803)(5,383)
Fair value gain on investment in an associate56,622,54117,276,198
Profit before taxation57,029,10417,680,434
Income tax(20,775)(20,458)
Profit and other comprehensive income for the year57,008,32817,659,975

Note: Amounts are rounded down.

(3) Statement of cash flows

(Unit: one thousand HKD)


FY2020FY2019
  • Operating Activities
  • Profit before taxation
  • Bank interest income
  • Depreciation
  • Exchange difference on investment
  • Fair value gain on investment in an associate
  • Fair value gain on short-term investments

  • 57,029,104
  • (2,517)
  • 48
  • -
  • (56,622,541)
  • -

  • 17,680,434
  • (812)
  • 47
  • (54)
  • (17,276,198)
  • (121)
  • Operating profit before changes in working capital
  • Decrease/(increase) in deposits, prepayments and other receivables
  • Increase in amount due from a subsidiary
  • Increase/(decrease) in accrued expenses
  • (Decrease)/increase in amount due to immediate parent
  • Decrease in amount due to intermediate holding company
  • 404,093
  • 393
  • (2,899)
  • 4,096
  • (302)
  • (228,149)
  • 403,294
  • (383)
  • (3,303)
  • (257)
  • 8,219
  • (349,342)
Cash generated from operations177,23258,226
Withholding tax paid(20,775)(20,458)
Net cash generated from operating activities156,45637,767
  • Investing activities
  • Interest received
  • Increase in pledged bank deposit
  • Proceeds from disposal of short-term investment
  • Purchases of plant and equipment

  • 2,517
  • (250)
  • -
  • -

  • 812
  • -
  • 23,823
  • (27)
Net cash generated from investing activities2,26724,607
Net increase in cash and cash equivalents158,72462,375
Cash and cash equivalents at January 190,60928,234
Cash and cash equivalents at December 31249,33490,609
  • Analysis of the balance of cash and cash equivalents


Time deposit with banks with maturity within 3 months221,88376,909
Cash and bank balances27,45013,700
Cash and cash equivalents at December 31249,33490,609

Note: Amounts are rounded down.

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