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Asia Pacific Wire & Cable Corporation Limited (APWC)
3.6900 0.00 (0.00%)
Before hours: 8:05AM EST
Chart Events
Performance Outlook
| Previous Close | 3.6900 |
| Open | 3.6200 |
| Bid | 3.6500 x 1000 |
| Ask | 3.6900 x 1000 |
| Day's Range | 3.4800 - 4.3800 |
| 52 Week Range | 0.8900 - 4.8300 |
| Volume | 1,333,808 |
| Avg. Volume | 890,493 |
| Market Cap | 50.995M |
| Beta (5Y Monthly) | 1.31 |
| PE Ratio (TTM) | 72.35 |
| EPS (TTM) | 0.0510 |
| Earnings Date | Jan 04, 2021 |
| Forward Dividend & Yield | N/A (N/A) |
| Ex-Dividend Date | Sep 13, 2018 |
| 1y Target Est | N/A |
- GlobeNewswire
Asia Pacific Wire & Cable Corporation Ltd. Reports Third Quarter 2020 Financial Results
TAIPEI, Taiwan, Jan. 04, 2021 (GLOBE NEWSWIRE) -- Asia Pacific Wire & Cable Corporation Limited (NASDAQ: APWC) ("APWC" or the "Company"), a leading manufacturer of wire and cable products for the telecommunications and electric-power industries in the Asia-Pacific region, today announced the Company's financial results for the nine months ended September 30, 2020. Unless otherwise indicated, all data are reported in U.S. Dollars at the exchange rate prevailing on the date of the event or result reported. First Nine Months 2020 Financial Results (Ended September 30, 2020), and 2019 comparative results First 9 Months 2020First 9 Months 2019CHANGE Revenues$207.2 million$249.7 million(17.0)% Operating Profit/(Loss)$5.9 million$(3.1) million294.5% Net Income/(Loss)$0.4 million$(2.0) million118.1% EPS(1)$0.03$(0.14)121.4% (1)The calculation of the earnings per share is based on 13,819,669 and 13,819,669 basic and diluted weighted average common shares issued and outstanding for the nine months ended September 30, 2020 and 2019, respectively. First Nine Months 2020 Results Revenues for the nine months ended September 30, 2020, were $207.2 million, a decrease of 17.0% from $249.7 million for the nine months ended September 30, 2019. The decrease was primarily attributable to revenue decreases in the Company’s Thailand, North Asia, and Rest of World (“ROW”) regions. Net revenue in the Company’s Thailand region decreased by 21.8%, primarily due to decreased sales of low margin products. Revenues in the Company's North Asia region decreased by 16.0%, primarily due to the cessation of manufacturing operations of Shanghai Asia Pacific Electric Co., Ltd. (“Yayang”) in October 2019. Revenues in the Company's Rest of World ("ROW") region decreased by 8.7%, primarily due to Singapore not reaching full resumption of work for reasons associated with COVID-19. The Company's North Asia region includes China and Hong Kong; the Thailand region consists of operations and sales within Thailand; the ROW region includes Singapore, Australia and the other markets where APWC has operations or sales outside of the Thailand region and North Asia region.Operating profit for the nine months ended September 30, 2020 increased to $5.9 million from a loss of $(3.1) million for the nine months ended September 30, 2019. Operating profit margin increased from a loss of (1.2)% in 2019 to a profit of 2.9% in 2020. In the Thailand region, operating profit margin increased from a loss of (0.4)% to a profit of 7.6%, which was attributable primarily to the increase in sales of higher profit margin products. In the North Asia region, operating profit margin increased from 0.9% in 2019 to 3.8% for the same period in 2020, primarily attributable to a decrease in lower margin products and severance expenses. The ROW region’s operating loss margin decreased from (2.8)% in 2019 to (2.3)% in 2020, primarily attributable to abating competition for reasons associated with COVID-19.Selling, general and administrative expenses for the nine months ended September 30, 2020 were $18.2 million, compared to $19.0 million reported for the nine months ended September 30, 2019. Net income attributable to APWC shareholders was $0.4 million for the first nine months of 2020, compared to a net loss of $(2.0) million for the same period in 2019. The increase in net income was primarily due to an increase in gross profit. The weighted average number of shares issued and outstanding was 13.82 million for the nine months ended September 30, 2020 and 2019.Financial ConditionAPWC reported $44.6 million in cash and cash equivalents as of September 30, 2020, compared to cash and cash equivalents of $53.7 million as of December 31, 2019.Current assets totaled $237.2 million as of September 30, 2020, compared to $239.5 million as of December 31, 2019. Working capital was $173.2 million as of September 30, 2020. Short term bank loans were $12.9 million at September 30, 2020, an increase from $11.4 million at the end of 2019. The Company had $3.4 million in long-term debt outstanding at September 30, 2020, compared to $0.0 in long-term debt as of December 31, 2019. Shareholder's equity attributable to APWC was $150.3 million as of September 30, 2020, compared to $153.9 million as of December 31, 2019.APWC reported $6.3 million in cash generated from operations during the nine months ended September 30, 2020, compared to cash used in operations of $2.0 million in the corresponding period in 2019. The increase in cash generated from operations in 2020 was primarily attributable to improved product margin. The Company reported $19.3 million in cash outflows from investing activities during the nine months ended September 30, 2020, compared to $2.9 million in cash outflows in the same period of 2019. The increase in cash used for investing activities in the first nine months of 2020 was attributable primarily to the increase in purchases of property, plant and equipment. APWC reported $6.0. million in cash inflows from financing activities during the first nine months of 2020, compared to $6.5 million in cash outflows from financing activities in the same period of 2019. The cash inflows in 2020 was primarily attributable to an increase in borrowing.We encourage shareholders to visit the Company's website for further information (www.apwcc.com). Information on the Company's website or any other website does not constitute a portion of this release.About Asia Pacific Wire & Cable CorporationAsia Pacific Wire & Cable Corporation is principally engaged in the manufacture and distribution of telecommunications (copper and fiber optic) and power cable and enameled wire products in the Asia Pacific region, primarily in Thailand, China, Singapore and Australia. The Company manufactures and distributes its own wire and cable products and also distributes wire and cable products manufactured by its principal shareholder, Pacific Electric Wire & Cable Company, a Taiwanese company. The Company also provides project engineering services in the supply, delivery and installation ("SDI") of power cables to certain of its customers.Safe Harbor StatementThis release contains certain "forward-looking statements" relating to the Company, its business, and its subsidiary companies. These forward-looking statements are often identified by the use of forward-looking terminology such as "believes", "anticipates", "expects", “estimates”, “intends”, “plans” or similar expressions. Such forward looking statements involve known and unknown risks and uncertainties that may cause actual results to be materially different from those described herein as believed, anticipated, expected, estimated, intended or planned. Investors should not place undue reliance on these forward-looking statements, which speak only as of the date of this press release. The Company's actual results could differ materially from those anticipated in these forward-looking statements as a result of a variety of factors, including those discussed in the Company's periodic reports that are filed with the Securities and Exchange Commission and available on its website (www.sec.gov). All forward-looking statements attributable to the Company or to persons acting on its behalf are expressly qualified in their entirety by these factors other than as required under the securities laws. The Company does not assume a duty to update these forward-looking statements.Contact: Investor Relations Contact: Skyline Corporate Communications Group, LLC Lisa Gray, Senior Account Manager One Rockefeller Plaza, 11th Floor New York, NY 10020 Office: (646) 893-5835 Email: lisa@skylineccg.com ASIA PACIFIC WIRE & CABLE CORPORATION LIMITED AND SUBSIDIARIES CONSOLIDATED INCOME STATEMENTS (Unaudited) (Amounts in thousands of US Dollars, except share data) For the nine months ended Sept 30, 2020 2019 (Unaudited) (Unaudited) Revenue$207,204 $249,659 Cost of sales (183,197) (234,585) Gross profit 24,007 15,074 Other operating income 450 950 Selling, general and administrative expenses (18,176) (19,025) Other operating expenses (344) (52) Operating profit / (loss) 5,937 (3,053) Finance costs (563) (821) Finance income 228 393 Share of loss of associates (1) (2) Exchange loss (637) 1,543 Other income 919 644 Other expense - (1) Profit before tax 5,883 (1,297) Income tax expense (2,647) (964) Profit/(Loss) for the period$3,236 $(2,261) Attributable to: Equity holders of the parent$357 $(1,974) Non-controlling interests$2,879 $(287) Basic and diluted profit / (loss) per share$0.03 $(0.14) Basic and diluted weighted average common shares outstanding 13,819,669 13,819,669 ASIA PACIFIC WIRE & CABLE CORPORATION LIMITED AND SUBSIDIARIES CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME (Unaudited) (Amounts in thousands of US Dollars, except share data) For the nine months ended Sept 30, 2020 2019 (Unaudited) (Unaudited) Profit/(Loss) for the period$3,236 $(2,261) Other comprehensive income Other comprehensive income to be reclassified to profit or loss in subsequent periods: Exchange differences on translation of foreign operations, net of tax of nil (7,268) 4,721 (7,268) 4,721 Other comprehensive income not to be reclassified to profit or loss in subsequent periods: Changes in the fair value of equity instruments measured at FVOCI (1,565) 425 Income tax effect 313 (85) (1,252) 340 Re-measuring losses on defined benefit plans 227 (135) Income tax effect (45) 27 182 (108) Other comprehensive (loss) / income for the year , net of tax (8,338) 4,953 Total comprehensive (loss) / income for the period, net of tax (5,102) 2,692 Attributable to: Equity holders of the parent (3,559) (791) Non-controlling interests (1,543) 3,483 $(5,102) $2,692 ASIA PACIFIC WIRE & CABLE CORPORATION LIMITED AND SUBSIDIARIES CONSOLIDATED BALANCE SHEETS (In thousands of US Dollars, except share data) As of Sept 30, 2020 (Unaudited) As of December 31, 2019 (Audited) Assets Current assets Cash and cash equivalents$44,584 $53,673 Trade receivables 66,626 74,077 Other receivables 9,692 6,868 Contract assets 1,795 4,686 Due from related parties 10,471 11,566 Inventories 98,214 85,187 Prepayments 3,861 1,926 Other current assets 1,958 1,521 237,201 239,504 Non-current assets Financial assets at fair value through other comprehensive income 2,454 4,062 Property, plant and equipment 47,370 41,747 Right of use assets 3,368 3,735 Prepaid land lease payments - - Investment properties 5,866 730 Intangible assets 187 128 Investments in associates accounted from using equity method 881 935 Deferred tax assets 4,207 3,939 Other non-current assets 3,966 4,131 68,299 59,407 Total assets$305,500 $298,911 ASIA PACIFIC WIRE & CABLE CORPORATION LIMITED AND SUBSIDIARIES CONSOLIDATED BALANCE SHEETS (In thousands of US Dollars, except share data) As of Sept 30, 2020 (Unaudited) As of December 31, 2019 (Audited) Liabilities Current liabilities Interest-bearing loans and borrowings$12,872 11,356 Trade and other payables 18,737 16,879 Due to related parties 10,731 3,284 Financial liabilities at fair value through profit or loss - 3 Accruals 12,458 14,437 Current tax liabilities 3,330 2,872 Employee benefit liabilities 2,101 1,888 Financial lease liabilities 564 574 Other current liabilities 3,196 2,356 63,989 53,649 Non-current liabilities Interest-bearing loans and borrowings 3,400 - Employee benefit liabilities 9,943 10,434 Financial lease liabilities 1,825 2,254 Deferred tax liabilities 4,217 4,139 19,385 16,827 Total liabilities 83,374 70,476 Equity Issued capital 138 138 Additional paid-in capital 110,416 110,416 Treasury shares (38) (38) Retained earnings 53,741 53,384 Other components of equity (13,962) (10,046) Equity attributable to equity holders of the parent 150,295 153,854 Non-controlling interests 71,831 74,581 Total equity$222,126 228,435 Total liabilities and equity$305,500 298,911 ASIA PACIFIC WIRE & CABLE CORPORATION LIMITED AND SUBSIDIARIES CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS (Unaudited) (In thousands of U.S. Dollars) For the years ended Sept 30, 2020 2019 (Unaudited) (Unaudited) Net cash provided by / (used in) operating activities $6,258 $(2,025) Net cash used in investing activities (19,335) (2,945) Net cash (used in) financing activities 5,973 (6,476) Effect of exchange rate on cash and cash equivalents (1,985) 1,414 Net decrease in cash and cash equivalents (9,089) (10,032) Cash and cash equivalents at beginning of period 53,673 60,778 Cash and cash equivalents at end of period $44,584 $50,746
- GlobeNewswire
Asia Pacific Wire & Cable Corporation Limited Announces the Convening of AGM on September 18, 2020, and the Procurement of Loan
TAIPEI, Taiwan, Sept. 18, 2020 (GLOBE NEWSWIRE) -- Asia Pacific Wire & Cable Corporation Limited (NASDAQ: APWC) (the “Company”), a leading manufacturer of wire and cable products for the telecommunications and electric-power industries in the Asia-Pacific region, today announced that: (1) the Company will convene its 2020 Annual General Meeting on September 18, 2020 at 9:00 a.m. New York time at its headquarters located at Room B, 15th Floor, No. 77, Section 2, Dunhua South Road, Taipei, 106, Taiwan and (2) the Company has procured a US$6,000,000 secured loan from its majority shareholder, Pacific Electric Wire & Cable Co., Ltd. (“PEWC”). The loan is a straight loan, has a one year term, carries a 3% interest rate, and is secured by a pledge of the Company’s 98.3% ownership stake in Sigma Cable Company (Private) Limited (“Sigma Cable”). The use of proceeds from the loan provided by PEWC will be applied to fund capital expenditures and working capital needs of the Company’s business projects, and for other corporate purposes, as determined from time to time. The Company has several projects in the pipeline, including, but not limited to, the acquisition of new machinery for the Company’s operation in China, the purchase of a new warehouse in Australia, and the execution of S$200M in supply, delivery and installation (SDI) projects in Singapore awarded to Sigma Cable last year. The proceeds may be used to fund the subsidiaries who undertake these projects and are short of working capital.About Asia Pacific Wire & Cable CorporationAsia Pacific Wire & Cable Corporation is principally engaged in the manufacture and distribution of telecommunications (copper and fiber optic) and power cable and enameled wire in the Asia Pacific region, primarily in Thailand, China, Singapore and Australia. The Company manufactures and distributes its own wire and cable products and also distributes wire and cable products manufactured by its principal shareholder, Pacific Electric Wire & Cable Company, a Taiwanese company. The Company also provides project engineering services in the supply, delivery and installation (“SDI”) of power cables to certain of its customers.Safe Harbor StatementThis release contains certain “forward-looking statements” relating to the Company, its business, and its subsidiary companies. These forward-looking statements are often identified by the use of forward-looking terminology such as “believes”, “anticipates”, “expects”, “estimates”, “intends”, “plans” or similar expressions. Such forward looking statements involve known and unknown risks and uncertainties that may cause actual results to be materially different from those described herein as believed, anticipated, expected, estimated, intended or planned. Investors should not place undue reliance on these forward-looking statements, which speak only as of the date of this press release. The Company’s actual results could differ materially from those anticipated in these forward-looking statements as a result of a variety of factors, including those discussed in the Company’s periodic reports that are filed with the Securities and Exchange Commission and available on its website (www.sec.gov). All forward-looking statements attributable to the Company or to persons acting on its behalf are expressly qualified in their entirety by these factors other than as required under the securities laws. The Company does not assume a duty to update these forward-looking statements.Contact: Investor Relations Contact: Asia Alpha Investor Relations Lisa A. Gray Senior Account Manager Phone: +1-212-989-9899 Email: apwc@asiaalphair.com
- GlobeNewswire
Asia Pacific Wire & Cable Corporation Ltd. Reports Second Quarter 2020 Financial Results
TAIPEI, Taiwan, Sept. 03, 2020 (GLOBE NEWSWIRE) -- Asia Pacific Wire & Cable Corporation Limited (NASDAQ: APWC) ("APWC" or the "Company"), a leading manufacturer of wire and cable products for the telecommunications and electric-power industries in the Asia-Pacific region, today announced the Company's financial results for the six months ended June 30, 2020. Unless otherwise indicated, all data are reported in U.S. Dollars at the exchange rate prevailing on the date of the event or result reported.First Six Months 2020 Financial Results (Ended June 30, 2020), and 2019 comparative results First 6 Months 2020First 6 Months 2019CHANGE Revenues$127.6 million$160.6 million(20.5)% Operating Profit/(Loss)$0.3 million$(3.5) million(1.09)% Net Income/(Loss)$(0.8) million$(1.7) million52.5% EPS(1)$(0.06)$(0.12)50.0% (1)The calculation of the earnings per share is based on 13,819,669 and 13,819,669 basic and diluted weighted average common shares issued and outstanding for the six months ended June 30, 2020 and 2019, respectively. First Six Months 2020 Results Revenues for the six months ended June 30, 2020, were $127.6 million, a decrease of 20.5% from $160.6 million for the six months ended June 30, 2019. The decrease was primarily attributable to revenue decreases in the Company’s Thailand, North Asia, and Rest of World (“ROW”) regions. Net revenue in the Company’s Thailand region decreased by 23.6%, primarily due to decreased sales of low margin products due to COVID-19. Revenues in the Company's North Asia region decreased by 23.1%, primarily due to the cessation of manufacturing operations of Shanghai Asia Pacific Electric Co., Ltd. (“Yayang”) , and due to depreciation of the local currency. Revenues in the Company's Rest of World ("ROW") region decreased by 12.1%, primarily due to Singapore’s lockdown for reasons associated with COVID-19. The Company's North Asia region includes China and Hong Kong; the Thailand region consists of operations and sales within Thailand; the ROW region includes Singapore, Australia and the other markets where APWC has operations or sales outside of the Thailand region and North Asia region.Operating profit for the six months ended June 30, 2020 increased to $0.3 million from a loss of $(3.5) million for the six months ended June 30, 2019. Operating profit margin increased from a loss of (2.2)% in 2019 to a profit of 0.2% in 2020. In the Thailand region, operating profit margin increased from a loss of (2.1)% to a profit of 3.7%, which was attributable primarily to the increase in sales of higher profit margin products. In the North Asia region, operating profit margin increased from 2.0% in 2019 to 3.0% for the same period in 2020, primarily attributable to the decrease in corresponding operating expenses resulting from the cessation of Yayang. The ROW region’s operating loss margin increased from (3.6) % in 2019 to (4.1)% in 2020, primarily attributable to higher average cost resulting from decreased sales volume in Singapore for reasons associated with COVID-19.Selling, general and administrative expenses for the six months ended June 30, 2020 were $11.8 million, compared to $13.1 million reported for the six months ended June 30, 2019. Net loss attributable to APWC shareholders was $(0.8) million for the first six months of 2020, compared to a net loss of $(1.7) million for the same period in 2019. The decrease in net loss was primarily due to an increase in operating profit. The weighted average number of shares issued and outstanding was 13.82 million for the six months ended June 30, 2020 and 2019.Financial ConditionAPWC reported $52.9 million in cash and cash equivalents as of June 30, 2020, compared to cash and cash equivalents of $53.7 million as of December 31, 2019.Current assets totaled $239.2 million as of June 30, 2020, compared to $239.5 million as of December 31, 2019. Working capital was $174.7 million as of June 30, 2020. Short term bank loans were $14.9 million at June 30, 2020, an increase from $11.4 million at the end of 2019. The Company had $3.3 million in long-term debt outstanding at June 30, 2020, compared to $0.0 in long-term debt as of December 31, 2019. Shareholder's equity attributable to APWC was $148.1 million as of June 30, 2020, compared to $153.9 million as of December 31, 2019.APWC reported $10.8 million in cash generated from operations during the six months ended June 30, 2020, compared to cash used in operations of $4.2 million in the corresponding period in 2019. The increase in cash generated from operations in 2020 was primarily attributable to the increased accounts receivable collection. The Company reported $15.7 million in cash outflows from investing activities during the six months ended June 30, 2020, compared to $2.3 million in cash outflows in the same period of 2019. The increase in cash used for investing activities in the first six months of 2020 was attributable primarily to the increase in purchases of property, plant and equipment in the Thailand region and the purchase of investment properties in the ROW region. APWC reported $5.6 million in cash inflows from financing activities during the first six months of 2020, compared to $7.1 million in cash outflows from financing activities in the same period of 2019. The increase in cash inflows in 2020 was primarily attributable to an increase in the bank loan borrowing.We encourage shareholders to visit the Company's website for further information (www.apwcc.com). Information on the Company's website or any other website does not constitute a portion of this release.About Asia Pacific Wire & Cable CorporationAsia Pacific Wire & Cable Corporation is principally engaged in the manufacture and distribution of telecommunications (copper and fiber optic) and power cable and enameled wire products in the Asia Pacific region, primarily in Thailand, China, Singapore and Australia. The Company manufactures and distributes its own wire and cable products and also distributes wire and cable products manufactured by its principal shareholder, Pacific Electric Wire & Cable Company, a Taiwanese company. The Company also provides project engineering services in the supply, delivery and installation ("SDI") of power cables to certain of its customers.Safe Harbor StatementThis release contains certain "forward-looking statements" relating to the Company, its business, and its subsidiary companies. These forward-looking statements are often identified by the use of forward-looking terminology such as "believes", "anticipates", "expects", “estimates”, “intends”, “plans” or similar expressions. Such forward looking statements involve known and unknown risks and uncertainties that may cause actual results to be materially different from those described herein as believed, anticipated, expected, estimated, intended or planned. Investors should not place undue reliance on these forward-looking statements, which speak only as of the date of this press release. The Company's actual results could differ materially from those anticipated in these forward-looking statements as a result of a variety of factors, including those discussed in the Company's periodic reports that are filed with the Securities and Exchange Commission and available on its website (www.sec.gov). All forward-looking statements attributable to the Company or to persons acting on its behalf are expressly qualified in their entirety by these factors other than as required under the securities laws. The Company does not assume a duty to update these forward-looking statements.Contact: Investor Relations Contact: Asia Alpha Investor Relations Lisa A. Gray Senior Account Manager Phone: +1-212-989-9899 Email: apwc@asiaalphair.com ASIA PACIFIC WIRE & CABLE CORPORATION LIMITED AND SUBSIDIARIES CONSOLIDATED INCOME STATEMENTS (Unaudited) (Amounts in thousands of U.S. Dollars, except share data) For the six months ended June 30, 2020 2019 (Unaudited) (Unaudited) Revenue$127,614 $160,602 Cost of sales (115,544) (151,434) Gross profit 12,070 9,168 Other operating income 262 572 Selling, general and administrative expenses (11,844) (13,131) Other operating expenses (224) (83) Operating profit/(loss) 264 (3,474) Finance costs (370) (562) Finance income 178 277 Share of loss of associates (1) (1) Exchange gain 145 981 Other income 584 384 Other expense - (82) Profit before tax 800 (2,477) Income tax expense (772) 163 Profit/(Loss) for the period$28 $(2,314) Attributable to: Equity holders of the parent$(818) $(1,723) Non-controlling interests$846 $(591) Basic and diluted loss per share$(0.06) $(0.12) Basic and diluted weighted average common shares outstanding 13,819,669 13,819,669 ASIA PACIFIC WIRE & CABLE CORPORATION LIMITED AND SUBSIDIARIES CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME (Unaudited) (Amounts in thousands of U.S. Dollars, except share data) For the six months ended June 30, 2020 2019 (Unaudited) (Unaudited) Profit/(Loss) for the period$28 $(2,314) Other comprehensive income/(loss) Other comprehensive income/(loss) to be reclassified to profit or loss in subsequent periods: Exchange differences on translation of foreign operations, net of tax of nil (6,919) 7,123 (6,919) 7,123 Other comprehensive income/(loss) not to be reclassified to profit or loss in subsequent periods: Changes in the fair value of equity instruments measured at FVOCI (1,069) 227 Income tax effect 214 (45) (855) 182 Re-measuring income/(losses) on defined benefit plans 134 (124) Income tax effect (26) 24 108 (100) Other comprehensive income/(loss) for the period, net of tax (7,666) 7,205 Total comprehensive income /(loss) for the period, net of tax (7,638) 4,891 Attributable to: Equity holders of the parent (5,734) 1,414 Non-controlling interests (1,904) 3,477 $(7,638) $4,891 ASIA PACIFIC WIRE & CABLE CORPORATION LIMITED AND SUBSIDIARIES CONSOLIDATED BALANCE SHEETS (Amounts in thousands of U.S. Dollars, except share data) As of June 30, 2020 (Unaudited) As of December 31, 2019 (Audited) Assets Current assets Cash and cash equivalents$52,921 $53,673 Trade receivables 52,072 74,077 Other receivables 9,636 6,868 Contract assets 1,625 4,686 Due from related parties 11,348 11,566 Inventories 104,687 85,187 Prepayments 4,615 1,926 Other current assets 2,249 1,521 239,153 239,504 Non-current assets Financial assets at fair value through other comprehensive income 2,968 4,062 Property, plant and equipment 42,916 41,747 Right of use assets 3,348 3,735 Prepaid land lease payments - - Investment properties 5,732 730 Intangible assets 193 128 Investments in associates accounted for using equity method 903 935 Deferred tax assets 4,451 3,939 Other non-current assets 3,639 4,131 64,150 59,407 Total assets$303,303 $298,911 ASIA PACIFIC WIRE & CABLE CORPORATION LIMITED AND SUBSIDIARIES CONSOLIDATED BALANCE SHEETS (Amounts in thousands of U.S. Dollars, except share data) As of June 30, 2020 (Unaudited) As of December 31, 2019 (Audited) Liabilities Current liabilities Interest-bearing loans and borrowings$14,931 $11,356 Trade and other payables 25,727 16,879 Due to related parties 3,945 3,284 Financial liabilities at fair value through profit or loss (23) 3 Accruals 11,583 14,437 Current tax liabilities 3,133 2,872 Employee benefit liabilities 2,012 1,888 Financial lease liabilities 570 574 Other current liabilities 2,589 2,356 64,467 53,649 Non-current liabilities Interest-bearing loans and borrowings 3,306 - Employee benefit liabilities 10,154 10,434 Financial lease liabilities 1,911 2,254 Deferred tax liabilities 3,875 4,139 19,246 16,827 Total liabilities 83,713 70,476 Equity Issued capital 138 138 Additional paid-in capital 110,416 110,416 Treasury shares (38) (38) Retained earnings 52,566 53,384 Other components of equity (14,962) (10,046) Equity attributable to equity holders of the parent 148,120 153,854 Non-controlling interests 71,470 74,581 Total equity$219,590 $228,435 Total liabilities and equity$303,303 $298,911 ASIA PACIFIC WIRE & CABLE CORPORATION LIMITED AND SUBSIDIARIES CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS (Unaudited) (Amounts in thousands of U.S. Dollars) For the six months ended June 30, 2020 2019 (Unaudited) (Unaudited) Net cash provided by/(used in) operating activities$10,847 $(4,230) Net cash provided by/(used in) investing activities (15,740) (2,305) Net cash provided by/(used in) financing activities 5,562 (7,126) Effect of exchange rate on cash and cash equivalents (1,421) 1,978 Net increase/(decrease) in cash and cash equivalents (752) (11,683) Cash and cash equivalents at beginning of period 53,673 60,778 Cash and cash equivalents at end of period$52,921 $49,095
