NOTES TO THE FINANCIAL STATEMENTS
For the financial year ended 31 December 2014
1. General
Corporate information
CSE Global Limited (the “Company”) is a limited liability company which is incorporated and domiciled in Singapore and is listed
on the Singapore Exchange Securities Trading Limited (SGX-ST).
The registered office of the Company is located at 50 Raffles Place, Singapore Land Tower, #32-01, Singapore 048623 and its
principal place of business is No. 2 Ubi View, Level 5, Singapore 408556.
The principal activities of the Company are those relating to provision of total integrated industrial automation, information
technology and intelligent transport solutions and investment holding. The principal activities of the subsidiary companies are
disclosed in Note 3 to the financial statements. There have been no significant changes in the nature of these activities during the
financial year.
Fundamental accounting concept
As at 31 December 2014, the Company’s current liabilities exceeded its current assets by $91,382,000 (2013: $97,087,000). In the
opinion of the Directors, the Company is able to continue as a going concern despite its net current liabilities position as the
Company is able to deploy the available funds within the Group for the Company to pay its debts as and when they fall due.
Accordingly, the Directors are of the view that the going concern assumption is appropriate for the preparation of the financial
statements of the Company.
2. Summary of significant accounting policies
2.1 Basis of preparation
The consolidated financial statements of the Group and the balance sheet and statement of changes in equity of the
Company have been prepared in accordance with Singapore Financial Reporting Standards (FRS).
The financial statements have been prepared on a historical cost basis except as disclosed in the accounting policies below.
The financial statements are presented in Singapore Dollars (SGD or $) and all values are rounded to the nearest thousand
($’000) except when otherwise indicated.
2.2 Changes in accounting policies
The accounting policies adopted are consistent with those of the previous financial year except in the current financial year,
the Group has adopted all the new and revised standards which are effective for annual financial periods beginning on or
after 1 January 2014. The adoption of these standards did not have any effect on the financial performance or position of
the Group and the Company.
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CSE Global Limited
