TIDMICB 
 
ICB Financial Group Holdings AG ("ICBFGH" or the "Company") 
 
ANNUAL REPORT AND FINANCIAL STATEMENTS 
 
The Company has today posted the Annual Report to shareholders and 
a copy of this document is available from the Company's website at 
www.icbankingroup.com. A summary of the audited Financial Statements included 
within the Annual Report is provided below. For further discussion of ICBFGH's 
financial performance in financial year 2011 including key results, highlights 
and outlook for the current year, please refer to the Company announcement 
released 30 March 2012. 
 
 
This announcement is dated 24 April 2012. 
 
 
CONTENTS                                           PAGE 
 
Consolidated Statement of Comprehensive Income     1 - 2 
Consolidated Statement of Financial Position       3 
Consolidated Statement of Cash Flows               4 - 5 
Consolidated Statement of Changes in Equity        6 - 7 
 
 
CONSOLIDATED STATEMENT OF COMPREHENSIVE INCOME 
FOR THE YEAR ENDED 31 DECEMBER 2011 
 
                                                                   Restated 
                                                             2011      2010 
                                                   Notes  USD'000   USD'000 
 
Interest income                                           143,733   130,748 
Interest expense                                         (69,489)  (62,082) 
Net interest income                                  4     74,244    68,666 
Fee and commission income                                  17,654    14,489 
Fee and commission expense                                  (296)     (204) 
Net fee and commission income                        5     17,358    14,285 
 
Foreign currency gain                                6      4,901     4,200 
Gains less losses from financial investments                3,452     4,613 
Gains less losses from trading securities                       -        22 
Gain on re-measurement of investment                            -       795 
Other operating income                                      3,804     2,391 
Impairment charges for loans and advances to        12   (18,271)   (8,171) 
customers 
Fair value change in foreclosed properties          14        306     1,893 
Operating expenses                                   7   (88,726)  (77,434) 
Operating (loss)/profit                                   (2,932)    11,260 
Share of results of associates                      15         57     (490) 
(Loss)/profit before taxation                             (2,875)    10,770 
Tax expense                                          9      (182)   (2,828) 
(LOSS)/PROFIT FOR THE YEAR                                (3,057)     7,942 
 
Other comprehensive income: 
Exchange differences on translating foreign               (1,495)     2,435 
operations 
Available-for-sale financial assets                         1,574   (1,191) 
Other comprehensive income for the year                        79     1,244 
TOTAL COMPREHENSIVE INCOME FOR THE YEAR                   (2,978)     9,186 
 
 
CONSOLIDATED STATEMENT OF COMPREHENSIVE INCOME - CONT'D 
FOR THE YEAR ENDED 31 DECEMBER 2011 
 
                                                 Notes     2011     2010 
                                                        USD'000  USD'000 
(Loss)/profit of the year attributable to: 
- Owners of the parent                                  (1,100)    6,402 
- Non-controlling interests                             (1,957)    1,540 
                                                        (3,057)    7,942 
 
Total comprehensive income attributable to: 
- Owners of the parent                                 (10,074)    6,541 
- Non-controlling interests                               7,096    2,645 
                                                        (2,978)    9,186 
 
Earnings per share 
- Basic and diluted (Expressed in USD per share)  10     (0.01)     0.03 
 
 
The accompanying notes form an integral part of the financial statements. 
 
 
CONSOLIDATED STATEMENT OF FINANCIAL POSITION 
AS AT 31 DECEMBER 2011 
 
                                              2011       2010       2010 
                                                     Restated 
                                   Notes   USD'000    USD'000    USD'000 
 
ASSETS 
Cash and bank balances               11    338,664    396,204    396,204 
Loans and advances to customers      12    817,613    889,950    889,950 
Financial investments                13    188,133    185,810    185,810 
Foreclosed properties                14      7,710     13,097     11,692 
Investment in associates             15      2,329      2,351      2,351 
Goodwill and other intangible        16     45,196     61,861     61,861 
assets 
Prepaid lease payments               17         13         41         41 
Property and equipment               18     21,153     24,221     24,221 
Other assets                         19     57,034     56,955     56,955 
Deferred tax assets                  20      6,816      3,935      4,278 
Total assets                             1,484,661  1,634,425  1,633,363 
 
LIABILITIES 
Deposits from other banks                  151,333    172,801    172,801 
Deposit from customers               21  1,114,362  1,238,678  1,238,678 
Other liabilities                    22     52,373     54,051     51,124 
Tax liabilities                              2,251      1,455      1,455 
Deferred tax liabilities             20        187        255        255 
Total liabilities                        1,320,506  1,467,240  1,464,313 
 
EQUITY 
Paid up share capital                23    145,960    145,960    145,960 
Share premium                                  782        782        782 
Retained earnings                    24     42,291     43,591     44,750 
Other reserves                       25      7,381     16,155     16,298 
Equity attributable to owners 
of the Company                             196,414    206,488    207,790 
Non-controlling interests                 (32,259)   (39,303)   (38,740) 
                                           164,155    167,185    169,050 
Total equity and liabilities             1,484,661  1,634,425  1,633,363 
 
 
The accompanying notes form an integral part of the financial statements. 
 
 
CONSOLIDATED STATEMENT OF CASH FLOWS 
FOR THE FINANCIAL YEAR ENDED 31 DECEMBER 2011 
 
                                                                             Restated 
                                                                  2011           2010 
                                                               USD'000        USD'000 
CASH FLOWS FROM OPERATING ACTIVITIES 
(Loss)/Profit before taxation                                  (2,875)         10,770 
Adjustment for: 
 Impairment charges for loans and advances to customers         18,271          8,171 
 Amortisation of prepaid lease rental                               28             39 
 Amortisation of intangible assets                               2,188          2,103 
 Depreciation of property and equipment                          4,666          4,378 
 Loss on disposal of property and equipment                        385             59 
 Gain on re-measurement of investment                                -          (795) 
 Fair value changes in foreclosed properties                     (306)        (1,893) 
 Share of results of associates                                   (57)            490 
 Gain on foreign exchange translation                          (4,901)        (4,200) 
Cash flow from operations before working capital changes        17,399         19,122 
 Decrease/(Increase) in operating assets                        34,515      (185,157) 
 (Decrease)/Increase in operating liabilities                 (85,070)        234,857 
Cash (used in)/generated from operations                      (33,156)         68,822 
Tax paid                                                       (1,393)        (1,921) 
Net cash (used in)/from operating activities                  (34,549)         66,901 
 
CASH FLOWS FROM INVESTING ACTIVITIES 
Acquisition of a subsidiary, net of cash acquired                    -         25,454 
Purchase of property and equipment                             (3,621)        (7,382) 
Purchase of intangible assets                                    (417)        (1,051) 
Proceeds from sale of property and equipment                       378             88 
Increase investment in associate                                     -        (1,717) 
Proceeds from sale of foreclosed property                        5,098            511 
Decrease in financial investments                               44,411         36,632 
Increase in financial investments                             (55,269)       (21,835) 
Net cash (used in)/from investing activities                   (9,420)         30,700 
 
 
CONSOLIDATED STATEMENT OF CASH FLOWS - CONT'D 
FOR THE FINANCIAL YEAR ENDED 31 DECEMBER 2011 
 
                                                                    Restated 
                                                              2011      2010 
                                                           USD'000   USD'000 
CASH FLOWS FROM FINANCING ACTIVITIES 
Issue of shares                                                 68         - 
Dividend paid to non-controlling interests                    (120)     (82) 
Net cash used in financing activities                          (52)      82) 
 
Net (decrease)/increase in cash and cash equivalents       (44,021)   97,519 
Cash and cash equivalents at the beginning of the year      304,849  214,262 
Effect of exchange rate changes on cash and cash           (17,552)  (6,932) 
equivalents 
Cash and cash equivalents at the end of the year (Note 26)  243,276  304,849 
 
 
The accompanying notes form an integral part of the financial statements. 
 
 
CONSOLIDATED STATEMENT OF CHANGES IN EQUITY 
FOR THE FINANCIAL YEAR ENDED 31 DECEMBER 2011 
 
                                                                                  TOTAL EQUITY 
                                                                                  ATTRIBUTABLE 
                                 SHARE      SHARE         OTHER        RETAINED   TO OWNERS OF NON-CONTROLLING   TOTAL 
                               CAPITAL    PREMIUM      RESERVES        EARNINGS     THE PARENT       INTERESTS  EQUITY 
                               USD'000    USD'000       USD'000         USD'000        USD'000         USD'000 USD'000 
 
At 1 January 2011              145,960        782        16,155          43,591        206,488        (39,303) 167,185 
Loss for the year                    -          -             -         (1,100)        (1,100)         (1,957) (3,057) 
Other comprehensive 
income: 
 Currency translation 
 differences arising from 
 translation to 
 presentation currency               -          -      (10,074)               -       (10,074)           8,579 (1,495) 
Gain in fair value on 
 available-for-sale 
 securities                          -          -         1,100               -          1,100             474   1,574 
Capitalisation of retained 
 earnings of subsidiary              -          -           200           (200)              -               -       - 
Total comprehensive income 
 for the year                        -          -       (8,774)         (1,300)       (10,074)           7,096 (2,978) 
Issue of shares                      -          -             -               -              -              68      68 
Dividend paid to 
 non-controlling interests           -          -             -               -              -           (120)   (120) 
At 31 December 2011            145,960        782         7,381          42,291        196,414        (32,259) 164,155 
 
 
 
CONSOLIDATED STATEMENT OF CHANGES IN EQUITY - CONT'D 
FOR THE FINANCIAL YEAR ENDED 31 DECEMBER 2011 
 
                                                                                    TOTAL EQUITY 
                                                                                    ATTRIBUTABLE 
                                                         SHARE     OTHER  RETAINED  TO OWNERS OF NON-CONTROLLING   TOTAL 
                                      SHARE CAPITAL    PREMIUM  RESERVES  EARNINGS    THE PARENT       INTERESTS  EQUITY 
                                            USD'000    USD'000   USD'000   USD'000       USD'000         USD'000 USD'000 
 
At 1 January 2010                           145,960        782    15,812    37,808       200,362        (41,636) 158,726 
Effect of adoption of 
 accounting policy previously reported            -          -         -     (426)         (426)           (209)   (635) 
Effect of changes in 
 accounting treatment                             -          -         -   (1,882)       (1,882)           (924) (2,806) 
At 1 January 2010 as restated               145,960        782    15,812    35,500       198,054        (42,769) 155,285 
Profit for the year                               -          -         -     6,402         6,402           1,540   7,942 
Other comprehensive income: 
Currency translation differences 
 arising from translation to 
 presentation currency                            -          -       938         -           938           1,497   2,435 
Loss in fair value on 
 available-for-sale securities                    -          -     (799)         -         (799)           (392) (1,191) 
Transfer of reserve to retained 
earnings arising from 
 re-measurement of associate                      -          -       204     (204)             -               -       - 
Total comprehensive income 
 for the year                                     -          -       343     6,198         6,541           2,645   9,186 
Non-controlling interest from 
 business combination                             -          -         -         -             -           2,796   2,796 
Dividend paid to non-controlling interests        -          -         -         -             -            (82)    (82) 
Acquisition of non-controlling interests          -          -         -     1,893         1,893         (1,893)       - 
At 31 December 2010                         145,960        782    16,155    43,591       206,488        (39,303) 167,185 
 
 
The accompanying notes form an integral part of the financial statements. 
 
For more information, please contact: 
 
Tai Terk Lin 
Group CEO 
Tel: +603-62016051 
Fax: +603-62016053 
Email: tl.tai@icbglobal.com.my 
 
ICBFGH's AIM nominated adviser is RFC Corporate Finance Ltd. 
Contact Stephen Allen Tel: +61 8 9480 2500. 
 
 
 
 
END 
 

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