Financial Information

Click Here to Download JNFM Financials as at March 31, 2011...

Balance Sheet
Statement For The Year Ended March 31, 2011

	2011	2010
Assets
Cash and cash equivalents	4,232,628	2,602,114
Interest and other receivables	211,976,896	493,814,542
Securities purchased under resale agreements	7,887,675,817	4,896,728,902
Loans receivable	244,244,328	272,203,417
Investments	14,385,343,822	16,385,587,737
Income tax recoverable	209,019,787	98,665,747 >
Property, Plant & Equipment, net	33,675,082	34,189,059
Customer liabilities under guarantees and indeminities, as per contra	85,833,333	103,000,000
	$23,062,001,693	$22,286,791,518

Financed by:
LIABILITIES AND SHAREHOLDERS' EQUITY

Liabilities
Trade and other payables	108,787,549	260,692,851
Securities sold under repurchase agreements	20,601,445,770	20,075,111,770
Due to specialised financial institutions	17,333,335	11,166,667
Guarantees and indeminities, as per contra	85,833,333	103,000,000
Dividend payable	-	89,500
Deferred tax liability	25,653,694	70,308,955
	$20,839,053,681	$20,609,780,243

Shareholders' Equity
Ordinary share capital	318,250,000	318,250,000
Capital reserves	478,340,705	478,340,705
Investment fair value reserve	352,953,170	-
Retained profits	$1,073,404,137	$880,420,570
	$2,222,948,012	$1,677,011,275
	$23,062,001,693	$22,286,791,518

Statement of Comprehensive Income
Year ended March 31, 2011

	2011	2010
Revenue:
Interest income:
Interest on investments	1,820,468,046	2,895,763,762
Interest on loans and deposits with financial institutions	$32,255,709	$25,957,985
Total interest income	$1,852,723,755	$2,921,721,747
Interest expense:
Repurchase agreements	(1,348,568,870)	(2,225,243,678)
Short-term debt and other liabilities	(988,068)	(1,344,781)
Parent society	-	(2,744,110)
	($1,349,556,938)	($2,229,332,569)
Net interest income	503,166,817	692,389,178
Foreign exchange translation gains	(10,072,925)	1.069,299
Gain on sale of investments	52,249,973	4,440,611
Impairment loss on equity investment	-	( 140,000)
Fee income	36,434,543	34,420,802
	$581,778,408	$732,179,890
Preference dividends	-	( 1,050,000)
Operating expenses:
Employees compensation and benefits	(108,773,695)	(113,114,136)
Management Fees	(7,353,523)	(5,762,000)
Depreciation	(11,345,194)	(4,844,464)
Other expenses	(75,880,894)	(68,634,424)
	($203,353,306)	($192,355,024)
Profit before taxation	378,425,102	538,774,866
Income tax	(115,426,535)	(180,580,898)
Profit for the year	$262,998,567	$358,193,968
Other comprehensive income:
Change in fair value of available for-sale investments	_352,953,170	_-
Total comprehensive income for the year	$615,951,737	$358,193,968

Statement of Cash Flows
Year Ended March 31, 2011

	2011	2010
Cash Flows From Operating Activities

Profit for the year	262,998,567	358,193,968
Adjustments for:
Interest income	(1,852,723,755)	(2,921,721,747)
Interest expense	1,349,556,938	2,229,332,569
Depreciation	11,345,194	4,844,464
Loss on disposal of property, plant and equipment	15,227	-
Impairment of equity investments	-	140,000
Income tax	115,426,535	180,580,898
	($113,381,294)	($148,629,848)

Interest recieved	2,139,788,759	2,810,442,553
Interest paid	(1,501,746,817)	( 2,244,239,238)
Securities purchased under resale agreements	(2,990,946,915)	(151,649,100)
Trade and other recievables	(115,043,292)	(198,285,569)
Loans recievable	27,959,089	(130,939,611)
Securities sold under resale agreements	526,334,000	3,987,952,853
Trade and other payables	284,577	(813,498)
	(2,026,751,893)	3,923,838,542
Tax paid/deducted at source, net	(160,619,902)	(50,833,273)
Net cash (used)/provided by operating activities	($2,187,371,795)	$3,873,005,269

Cash Flows From Investing Activities
Investments	2,353,197,087	(4,141,639,571)
Acquisition of property, plant and equipment	(10,876,444)	(12,925,657)
Proceeds from disposal of property, plant and equipment	30,000	-
Net cash (used)/provided by investing activities	$2,342,350,643	($4,141,639,571)
Cash Flows From Financing Activities
Due to parent society	-	(20,000,000)
Redemption of preference shares	-	(7,000,000)
Issue of shares	-	300,000,000
Ordinary dividends paid	(159,515,000)	-
Due to specialized financial institutions	6,166,666	(5,333,333)
Net cash (used)/provided by financing activities	($153,348,334)	$267,666,667
Net increase/ (decrease) in cash and cash equivalents	1,630,514	(967,635)
Cash and cash equivalents at beginning of the year	2,602,114	3,569,749
CASH AND CASH EQUIVALENTS AT END OF THE YEAR	$4,232,628	$2,602,114

The notes which accompany the above information, form an integral part of the financial statements. Please refer to the full document, Audited Financial Statements, elsewhere on this site.

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