UNITED MALACCA BERHAD (1319 - V) (Incorporated in Malaysia)
Total Page:16
File Type:pdf, Size:1020Kb
UNITED MALACCA BERHAD (1319 - V) (Incorporated in Malaysia) UNAUDITED INTERIM FINANCIAL STATEMENTS FOR THE FIRST QUARTER ENDED 31 JULY 2019 CONDENSED CONSOLIDATED STATEMENT OF COMPREHENSIVE INCOME FOR THE FIRST QUARTER ENDED 31 JULY 2019 Individual Quarter Cumulative Quarter 3 Months Ended 3 Months Ended 31 July 31 July 2019 2018 2019 2018 RM'000 RM'000 RM'000 RM'000 Revenue 43,330 40,005 43,330 40,005 Cost of sales (50,146) (50,939) (50,146) (50,939) Gross loss (6,816) (10,934) (6,816) (10,934) Other income 2,775 1,645 2,775 1,645 Gain on disposal of non-current assets held for sale 53,893 - 53,893 - Administrative expenses (6,614) (3,885) (6,614) (3,885) Other expenses (203) (6,251) (203) (6,251) Operating profit/(loss) 43,035 (19,425) 43,035 (19,425) Finance costs (2,857) (1,524) (2,857) (1,524) Profit/(loss) before tax 40,178 (20,949) 40,178 (20,949) Income tax (expense)/credit (3,975) 1,814 (3,975) 1,814 Profit/(loss) for the period 36,203 (19,135) 36,203 (19,135) Other comprehensive income/(loss): Item that will be subsequently reclassified to profit or loss: Exchange differences on translation of foreign operations 4,108 35 4,108 35 4,108 35 4,108 35 Total comprehensive income/(loss) for the period 40,311 (19,100) 40,311 (19,100) Profit/(loss) for the period attributable to: Owners of the Company 36,947 (18,486) 36,947 (18,486) Non-controlling interests (744) (649) (744) (649) 36,203 (19,135) 36,203 (19,135) Total comprehensive income/(loss) for the period attributable to: Owners of the Company 40,381 (18,456) 40,381 (18,456) Non-controlling interests (70) (644) (70) (644) 40,311 (19,100) 40,311 (19,100) Earnings/(loss) per share attributable to owners of the Company: Basic (sen) 17.62 (8.82) 17.62 (8.82) Diluted (sen) 17.62 (8.82) 17.62 (8.82) The Condensed Consolidated Statement of Comprehensive Income should be read in conjunction with the audited financial statements for the year ended 30 April 2019 and the accompanying explanatory notes attached to the interim financial statements. 1 (TheComparativeCondensedfiguresConsolidatedfor the precedingIncomefinancialStatementsyear have beenshouldrestatedbe readas describedin conjunctionin Note 1withand 2theof UNITED MALACCA BERHAD (1319 - V) (Incorporated in Malaysia) UNAUDITED INTERIM FINANCIAL STATEMENTS FOR THE FIRST QUARTER ENDED 31 JULY 2019 CONDENSED CONSOLIDATED STATEMENT OF FINANCIAL POSITION As at End of As at Preceding Current Quarter Financial Year End 31 July 2019 30 April 2019 RM'000 RM'000 ASSETS Non-Current Assets Property, plant and equipment 1,407,577 1,375,402 Prepaid land lease payments 133,643 130,934 Goodwill on consolidation 82,474 82,474 Intangible asset 29,543 29,674 Other asset 2,923 2,702 1,656,160 1,621,186 Current Assets Inventories 41,339 24,038 Biological assets 4,140 3,937 Trade and other receivables 72,253 80,334 Tax recoverable - 3,762 Other investment - 19 Financial assets at fair value through profit or loss 75,146 5,603 Cash and bank balances 35,449 46,854 228,327 164,547 Non-current assets held for sale 27,952 69,509 256,279 234,056 TOTAL ASSETS 1,912,439 1,855,242 EQUITY AND LIABILITIES Equity Share capital 254,935 254,935 Other reserves (7,433) (10,894) Retained earnings 1,098,851 1,074,485 Equity attributable to owners of the Company 1,346,353 1,318,526 Non-controlling interests 37,994 38,064 Total equity 1,384,347 1,356,590 Non-Current Liabilities Bank borrowings 75,933 67,322 Retirement benefit obligation 789 654 Deferred tax liabilities 221,382 226,709 298,104 294,685 Current Liabilities Bank borrowings 141,735 141,941 Trade and other payables 73,480 62,026 Tax payable 2,192 - Dividend payable 12,581 - 229,988 203,967 Total liabilities 528,092 498,652 TOTAL EQUITY AND LIABILITIES 1,912,439 1,855,242 Net assets per share attributable to owners of the Company (RM) 6.42 6.29 The Condensed Consolidated Statement of Financial Position should be read in conjunction with the audited financial statements for the year ended 30 April 2019 and the accompanying explanatory notes attached to the interim financial statements. 2 (TheComparativeCondensedfiguresConsolidatedfor the precedingBalancefinancialSheetsyear haveshouldbeenberestatedread asin describedconjunctionin Notewith1 ofthethe UNITED MALACCA BERHAD (1319 - V) (Incorporated in Malaysia) UNAUDITED INTERIM FINANCIAL STATEMENTS FOR THE FIRST QUARTER ENDED 31 JULY 2019 CONDENSED CONSOLIDATED STATEMENT OF CHANGES IN EQUITY FOR THE PERIOD ENDED 31 JULY 2019 Attributable to Owners of the Company Non-distributable Distributable Non- Share Share Other Retained Controlling Total Capital Premium Reserves Earnings Total Interests Equity RM'000 RM'000 RM'000 RM'000 RM'000 RM'000 RM'000 Period Ended 31 July 2019 Balance at 1 May 2019 254,935 - (10,894) 1,074,485 1,318,526 38,064 1,356,590 Total comprehensive income/(loss) for the period - - 3,434 36,947 40,381 (70) 40,311 Transactions with owners: Fair value of share options granted to eligible employees - - 27 - 27 - 27 Dividend - - - (12,581) (12,581) - (12,581) - - 27 (12,581) (12,554) - (12,554) Balance at 31 July 2019 254,935 - (7,433) 1,098,851 1,346,353 37,994 1,384,347 3 UNITED MALACCA BERHAD (1319 - V) (Incorporated in Malaysia) UNAUDITED INTERIM FINANCIAL STATEMENTS FOR THE FIRST QUARTER ENDED 31 JULY 2019 CONDENSED CONSOLIDATED STATEMENT OF CHANGES IN EQUITY FOR THE PERIOD ENDED 31 JULY 2019 - CONT'D Attributable to Owners of the Company Non-distributable Distributable Non- Share Share Other Retained Controlling Total Capital Premium Reserves Earnings Total Interests Equity RM'000 RM'000 RM'000 RM'000 RM'000 RM'000 RM'000 Period Ended 31 July 2018 Balance at 1 May 2018 212,084 42,795 (15,798) 1,129,323 1,368,404 38,105 1,406,509 Total comprehensive income/(loss) for the period - - 30 (18,486) (18,456) (644) (19,100) Transactions with owners: Fair value of share options granted to eligible employees - - 112 - 112 - 112 Dividend - - - (12,581) (12,581) - (12,581) - - 112 (12,581) (12,469) - (12,469) Balance at 31 July 2018 212,084 42,795 (15,656) 1,098,256 1,337,479 37,461 1,374,940 The Condensed Consolidated Statement of Changes in Equity should be read in conjunction with the audited financial statements for the year ended 30 April 2019 and the accompanying explanatory notes attached to the interim financial statements. 4 UNITED MALACCA BERHAD (1319 - V) (Incorporated in Malaysia) UNAUDITED INTERIM FINANCIAL STATEMENTS FOR THE FIRST QUARTER ENDED 31 JULY 2019 CONDENSED CONSOLIDATED STATEMENT OF CASH FLOWS FOR THE PERIOD ENDED 31 JULY 2019 Period Ended Period Ended 31 July 2019 31 July 2018 RM'000 RM'000 Operating Activities Profit/(loss) before tax 40,178 (20,949) Adjustments for: Amortisation of intangible asset 134 - Amortisation of prepaid land lease payments 833 770 Depreciation of property, plant and equipment 14,312 13,358 Fair value changes on biological assets (net) (198) 1,044 Fair value of share options expensed off 27 112 Gain on disposal of: - non-current assets held for sale (53,893) - - property, plant and equipment (11) (36) Interest expense 2,857 1,524 Interest income (294) (952) Property, plant and equipment written off 51 14 Realised fair value gains on financial assets at fair value through profit or loss (243) (230) Unrealised foreign exchange (gain)/loss (1,355) 5,108 Operating cash flows before changes in working capital 2,398 (237) Increase in inventories (17,015) (3,576) Decrease/(increase) in trade and other receivables 8,455 (3,415) Increase in trade and other payables 11,482 1,019 Cash flows from/(used in) operations 5,320 (6,209) Interest received 288 954 Interest paid (3,121) (1,464) Taxes paid (3,825) (4,499) Net cash flows used in operating activities (1,338) (11,218) 5 UNITED MALACCA BERHAD (1319 - V) (Incorporated in Malaysia) UNAUDITED INTERIM FINANCIAL STATEMENTS FOR THE FIRST QUARTER ENDED 31 JULY 2019 CONDENSED CONSOLIDATED STATEMENT OF CASH FLOWS FOR THE PERIOD ENDED 31 JULY 2019 - CONT'D Period Ended Period Ended 31 July 2019 31 July 2018 RM'000 RM'000 Investing Activities Purchase of: - financial assets at fair value through profit or loss (86,000) - - property, plant and equipment (42,324) (14,235) Net proceeds from disposal of: - financial assets at fair value through profit or loss 16,700 - - non-current assets held for sale 95,456 - - property, plant and equipment 76 165 Additions of: - other asset (173) - - prepaid land lease payments (1,657) (1,403) Net withdrawal of other investment 19 - Net cash flows used in investing activities (17,903) (15,473) Financing Activity Drawdown of term loan 7,763 - Net cash flows from financing activity 7,763 - Net change in cash and bank balances (11,478) (26,691) Effect of foreign exchange rate changes 73 62 Cash and bank balances at beginning of period 46,854 99,557 Cash and bank balances at end of period 35,449 72,928 Cash and bank balances comprise: Cash on hand and at banks 7,975 1,243 Short-term deposits with licensed financial institutions 27,474 71,685 35,449 72,928 The Condensed Consolidated Statement of Cash Flows should be read in conjunction with the audited financial statements for the year ended 30 April 2019 and the accompanying explanatory notes attached to the interim financial statements. 6 UNITED MALACCA BERHAD (1319 - V) (Incorporated in Malaysia) UNAUDITED INTERIM FINANCIAL STATEMENTS FOR THE FIRST QUARTER ENDED 31 JULY 2019 NOTES TO THE INTERIM FINANCIAL STATEMENTS A.