Trop-X Closing Prices for week ending 08th September2017 |11 September 2017

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** Subscription price

At the end of the trading week which saw trades in SAC, SBL and BOD prices of the listed instruments have however remained constant. . The Seychelles Rupee is currently trading at 13.61 to the US Dollar, 16.31 to the Euro and 17.93 to the British Pound. The 91 day T-bill rate is quoted at 3.90% while the 182-day T-bill is quoted at 4.99.

This week has also seen a further announcement from SAC wherein shareholders were advised that there will be a further delay in the publication of the 2016 audited financial accounts. It is to be recalled that the Company announced the appointment of new auditors earlier this year who have been applying a higher disclosure standard in accordance with their interpretation of the International Financial Reporting Standards. Henceforth, the Company is being required to consolidate the accounts for Sacos Life Assurance Company Ltd with the Group accounts on a line by line basis contrary to the prior practice of consolidating on a one-line basis in both the Balance Sheet and Income Statement. Consequently, this has necessitated additional work for the company which is further delaying the preparation of the audited financial statements.

The Importance of Timely annual financial statements

Financial statements present the result of operations and the financial position of a company. Four main statements are commonly prepared by publicly-traded companies: balance sheet, income statement, cash flow statement and statement of changes in equity.

These statements show whether a company can pay its bills on time, its financial flexibility to acquire capital and its ability to distribute cash in the form of dividends to the company's owners. In short, it is a view of the company’s financial positions as at the date it is prepared.

Timely financial reporting creates benefits during the financial year and when the accounts are prepared. It allows the company to focus on current issues and develop future plans. It does this by improving financial systems and improving the quality of financial information. An efficient and effective capital market needs a transparent financial reporting system to boost investors’ confidence in making investment decisions.

If you are interested in opening a trading account and would like to discuss some investment opportunities on Trop-X, please get in touch with one of our two broker members who can assist you both in English and Creole:

Constant Capital (Seychelles) Ltd - 434 6820/ or email info@constant.sc

PKF Capital Markets (Seychelles) Ltd – 4346770/ or email pkfcapital@pkf.com