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increment from the base year. Again, this figure is included with GFC effects and
impacts still going on.
Although seen as abnormal situation, as seen in the graph below in Figure
2.1, SGT experienced huge amount of Amortisation which probably caused by
extensive reduction on its intangible assets that caused increasing Amortisation over
the years with the highest in Financial Year 2014 with 600% increment from base
year plus average of 248% increment from base year.
SGT has the strangest impact on the Global Financial Crisis in 2008 where its
Net Profit after Tax before Abnormal in Financial Year 2009 is actually the highest
among the ten years range where it has over 28% increment from Financial Year
2005. This negative correlation most probably caused by the type of industry SGT is
operating at, where although GFC made consumers purchase less products and
services, in the modern world almost everyone living especially in the city metropolis
like Singapore need at least a mobile phone and phone services. SGT mostly tied its
services by providing two years contract with a mobile phone that makes a customer
to continue using their products because mobile phone and its services are almost
considered as commodity and necessity in this modern age. Also, at the end of
Financial Year 2009, the very popular smartphone called iPhone 3GS by Apple was
released, hence it helps SGT to increase its massive sales on the smartphone.
The steady increment of Net Profit after Tax before Abnormal, EBIT, and
EBITDA with average of 8%, 8%, and 7% respectively with only lower than base year
in Financial Year 2013 makes SGT a very strong company with steady performance
throughout the years.
Liquidity and Solvency should create more awareness on its future and current
investors.