shc capital asia ltd (SHC) Snapshot

SHC Capital Asia Limited, Annual General Meeting, Apr 30, 2013., at 14:30 Singapore Standard Time. Location: Goodwood Park Hotel. Agenda: To receive and adopt the Directors' report and the audited financial statements of the company for the year ended 31 December 2012 together with the Auditors' report thereon; to approve the payment of a final tax-exempt (one-tier) dividend of 0.22 cent per ordinary share in the capital of the company for the financial year ended 31 December 2012; to re-elect the retiring Directors of the company; to approve the payment of Directors' fees of SGD 395,000.00 for the year ended 31 December 2012; to re-appoint Messrs KPMG LLP as the company's auditors and to authorise the Directors to fix their remuneration; to consider authority to issue shares; to consider authority to grant options and issue shares under the SHC Capital Asia employee share option scheme renewal of shareholders' mandate for interested person transactions; and to transact any other ordinary business which may properly be transacted at an annual general meeting.

SHC Capital Asia Limited, Special/Extraordinary Shareholders Meeting, Apr 30, 2013., at 15:00 Singapore Standard Time. Location: Goodwood Park Hotel. Agenda: To consider the proposed amendments to the rules of the SHC Capital Asia employee share option scheme to the company's circular to its shareholders dated 15 April 2013 be and are hereby adopted and approved; and the Directors of the company and/or any of them be and are hereby authorised to complete and do all such acts and things as they and/or he may deem fit, necessary or expedient to give effect to this resolution.

SHC Capital Asia Limited announced unaudited consolidated earnings results for the second half and full year ended December 31, 2012. For the second half, the company reported gross written premiums were SGD 35,000,000 against SGD 30,891,000 a year ago. Net earned premium revenue was SGD 21,148,000 against SGD 18,412,000 a year ago. Profit before income tax was SGD 3,584,000 against SGD 3,207,000 a year ago. Profit for the period was SGD 3,031,000 against SGD 3,011,000 a year ago. Diluted earnings per share were 0.98 cents against 0.98 cents a year ago. Net cash flows from operating activities were SGD 10,237,000 against SGD 11,979,000 a year ago. Acquisitions of property, plant and equipment was SGD 39,000 against SGD 38,000 a year ago. For the full year, the company reported gross written premiums were SGD 75,137,000 against SGD 64,623,000 a year ago. Net earned premium revenue was SGD 40,867,000 against SGD 35,363,000 a year ago. Profit before income tax was SGD 7,001,000 against SGD 6,232,000 a year ago. Profit for the period was SGD 5,932,000 against SGD 5,095,000 a year ago. Diluted earnings per share were 1.92 cents against 1.65 cents a year ago. Net cash flows from operating activities were SGD 13,698,000 against SGD 12,754,000 a year ago. This included the receipt of the second installment of the deferred consideration amounting to SGD 1.250 million due from See Hoy Chan Industrial Pte Ltd. in 2012 and the partial refund of rental deposits upon the renewal of the lease of the office premises. Acquisitions of property, plant and equipment was SGD 150,000 against SGD 430,000 a year ago. The company announced that, the Board of Directors has proposed a final dividend of 0.22 cents per ordinary share (tax exempt one-tier). The final dividend, if approved by shareholders at the forthcoming Annual General Meeting of the company, will be paid on May 28, 2013. The transfer book and register of members of the company will be closed on May 10, 2013 for the preparation of the dividend warrants and the record date is May 9, 2013.