UNAUDITED SBMA

FINANCIAL STATEMENT

December 31, 2015 & 2014

BALANCE SHEETS [NOVEMBER 30, 2015 & 2014]

2015

2014

ASSETS
Current Assets
Cash

2,759,175,879

1,996,451,020

Receivables (net)

219,107,319

247,631,036

Inventories

107,844,169

110,489,101

12,596,416

10,421,359

Miscellaneous Assets

Total Current Assets

3,098,723,783

2,364,992,515

842,125,526

603,291,873

Non-Current Assets
Investments
Receivables (net)
Property, Plant and Equipment (net)

260,636,945

305,186,939

24,583,771,934

24,975,396,551

450,295,895

361,733,130

Other Assets

Total Non-Current Assets

TOTAL ASSETS

26,136,830,300

26,245,608,493

29,235,554,083

28,610,601,008

BALANCE SHEETS [NOVEMBER 30, 2015 & 2014]

LIABILITIES
Current Liabilities
P

Payables & Accrued Expense

195,072,089
325,906,622
18,853,239
49,334,329
67,113

Loans Payable

Accrued Interest
Deferred Credits to Income- Cash
Deferred Credits to Income- Non Cash

168,978,084
302,712,274
20,119,742
53,898,597
39,460

Dividend Payable

222,381,234
384,309,680

Security Deposits & Advance Rental

Trust Liabilities
Total Current Liabilities

202,912,228
351,939,427

1,195,924,305

1,100,599,812

170,417,668
6,321,613,866
2,649,312,846
332,235,890
520,651,546

159,455,127
6,185,160,078
2,639,670,904
312,287,456
498,745,085

9,994,231,816

9,795,318,650

11,190,156,121

10,895,918,462

Non-Current Liabilities
Other Payables
Payables & Accrued Expense
Loans Payable - net of current portion
Deferred Credits to Income- Cash
Deferred Credits to Income- Non Cash
Security Deposits

Total Non-Current Liabilities

TOTAL LIABILITIES
STOCKHOLDERS' EQUITY

18,045,397,961

TOTAL LIABILITIES AND STOCKHOLDERS' EQUITY

S

17,714,682,546

29,235,554,083

28,610,601,008

INCOME STATEMENT [NOVEMBER 30, 2015 & 2014]

YTD 2015

YTD 2014

REVENUES
Leases
Port Services
Tourism Services
Other Operating Income
TOTAL REVENUES

P 1,342,240,104
933,582,744
12,631,135
466,195,838
P 2,754,649,821

1,269,238,055
746,717,584
14,238,490
411,417,307
2,441,611,436

266,367,799
784,285,439
P 1,050,653,238

P
P

280,140,704
638,498,898
918,639,603

P 1,703,996,583

1,522,971,834

EXPENSES
Manpower Services - PS
Maintenance and Other Operating Expenses
TOTAL EXPENDITURES
INCOME (LOSS) FROM OPERATIONS
OTHER INCOME (EXPENSES)

65,108,200
(81,821,164)
(54,936,970)

Interest Income
Interest on Loans
Guarantee Fee and Other Charges

69,536,519
(83,662,140)
(61,620,427)

P 1,632,346,649

INCOME (LOSS) FROM OPERATIONS BEFORE DEPRECIATION, FOREX

1,447,225,786

LOSS/GAIN & TAX

Depreciation Expense
Gain (Loss) on Foreign Exchange

(453,938,591)

(457,007,906)

(74,609,574)

774,856,572

P 1,103,798,484

INCOME (LOSS) BEFORE INCOME TAX

NET LOSS
U

1,765,074,452

85,922,246

INCOME TAX

76,139,035

P 1,017,876,238

1,688,935,417

CASH FLOW STATEMENT [NOVEMBER 30, 2015 & 2014]

2014

2013

Cash Flows From Operating Activities:

Cash inflows

3,124,390,909

Cash outflows

2,979,518,598

(1,508,499,151)

Net cash from (used in) operating activities

(1,441,037,026)

1,615,891,758

1,538,481,571

16,000,000

195,726,556

Cash Flows From Investing Activities:

Cash inflows

Cash outflows

(251,619,817)

Net cash from (used in) investing activities

(380,869,739)

(235,619,817)

(185,143,183)

107,584,181

795,901,449

Cash Flows From Financing Activities:

Cash inflows
Cash outflows

(843,916,934)

Net cash from (used in) financing activities

(1,276,639,788)

(736,332,753)

(480,738,340)

Effect of Exchange Rate Changes on Cash

118,785,671

(28,948,232)

Net (Decrease) Increase in Cash

762,724,859

843,651,817

Cash at Beginning of Year

1,996,451,020

Cash at End of Year

1,152,799,203

2,759,175,879

1,996,451,020