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    1D5   KYG8763X1189

CAPITAL WORLD LIMITED

(1D5)
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Financial Statements and Related Announcement::Second Quarter and/ or Half Yearly Results

09/22/2021 | 08:42pm EDT

CAPITAL WORLD LIMITED

(Company Registration No: CT-276295)

(Incorporated in the Cayman Islands on 15 March 2013)

UNAUDITED FINANCIAL STATEMENTS FOR THE SECOND QUARTER ENDED 31 DECEMBER 2020

Pursuant to Rule 705(2C) of the Singapore Exchange Securities Trading Limited ("SGX-ST") Listing Manual Section B: Rules of Catalist, the Company is required to announce its quarterly financial statements in view of the qualified opinion and material uncertainty relating to going concern issued by the Company's auditors in the latest audited financial statements for the financial year ended 30 June 2020.

PART I INFORMATION REQUIRED FOR QUARTERLY (Q1, Q2 & Q3), HALF-YEAR AND FULL YEAR ANNOUNCEMENTS

1(a)(i). An income statement and statement of comprehensive income, or a statement of comprehensive income (for the Group) together with a comparative statement for the corresponding period of the immediately preceding financial year.

Group

Group

Second quarter ended 31

Half year ended 31

December

December

2020

2019

Change

2020

2019

Change

(Unaudited)

(Unaudited)

(Unaudited)

(Unaudited)

Description

RM'000

RM'000

%

RM'000

RM'000

%

Revenue

122

986

(87.6)

509

2,642

(80.7)

Cost of sales

(11)

(2,379)

(99.5)

(112)

(4,518)

(97.5)

Gross Profit/(Loss)

111

(1,393)

(108.0)

397

(1,876)

(121.2)

Other income

2,418

937

158.0

5,114

1,929

165.1

Selling and distribution

-

expenses

-

(19)

n.m.

(173)

n.m.

General and administrative

expenses

(3,830)

(12,063)

(68.3)

(7,205)

(19,653)

(63.3)

Finance costs

(758)

(2,482)

(69.5)

(1,536)

(3,110)

(50.6)

Loss before income tax

(2,059)

(15,020)

(3,229)

(22,883)

Income tax (expense)/credit

(16)

92

(117.8)

(78)

185

Loss for the year

(2,075)

(14,928)

(3,307)

(22,698)

Other comprehensive income

Items that may be reclassified

subsequently to profit or loss:

Exchange differences arising

from translation of foreign

operations, net of tax

169

387

(56.4)

175

(541)

(132.4)

Total comprehensive loss for

the year

(1,907)

(14,541)

(3,131)

(23,239)

Loss for the year attributable

to:

Owners of the Company

(2,075)

(14,795)

(86.0)

(3,307)

(22,415)

(85.2)

Non-controlling interests

-

(133)

n.m.

-

(283)

n.m.

(2,075)

(14,928)

(3,307)

(22,698)

Total comprehensive loss for

the year attributable to:

Owners of the Company

(1,907)

(14,408)

(86.8%)

(3,131)

(22,956)

(86.4%)

Non-controlling interests

-

(133)

n.m.

-

(283)

n.m.

(1,907)

(14,541)

(3,131)

(23,239)

n.m: Denotes not meaningful

-2-

1(a). (ii) The following items (with appropriate breakdowns and explanations), if significant, must either be included in the income statement or in the notes to the income statement for the current financial period reported on and the corresponding period of the immediately preceding financial year:

Group

Group

Second quarter ended 31

Half year ended 31

December

December

2020

2019

Change

2020

2019

Change

(Unaudited)

(Unaudited)

(Unaudited)

(Unaudited)

Description

RM'000

RM'000

%

RM'000

RM'000

%

Loss for the year is arrived at after (crediting)/ charging :

Interest income

-

(43)

n.m.

(37)

(294)

(87.4)

Loss/(Gain) on disposal of

subsidiaries

-

383

n.m.

-

383

n.m.

Reimbursement of

operating expenses

(2,394)

-

n.m.

(4,789)

-

n.m.

Audit fees:

- Auditors of the Company

98

-

n.m.

167

-

n.m.

Depreciation of property,

plant and equipment

389

1,313

(70.4)

781

2,699

(71.1)

Depreciation of investment

properties

-

1,156

n.m.

-

2,312

n.m.

Amortisation of mining

rights

8

357

(97.8)

39

749

(94.8)

Employee benefit expense:

- Salaries and bonuses

148

1,204

(87.7)

342

2,407

(85.8)

- Social security

contributions

1

4

(75.0)

2

8

(62.5)

- Contributions to defined

contribution plan

20

88

(77.3)

43

176

(75.6)

Interest expense:

- Loans and borrowings

757

2,482

(69.5)

1,534

3,110

(50.7)

n.m: Denotes not meaningful

-3-

1(b)(i). A statement of financial position (for the Issuer and Group), together with a comparative statement as at the end of the immediately preceding financial year.

Group

Company

As at

As at

As at

As at

31/12/2020

30/06/2020

31/12/2020

30/06/2020

(Unaudited)

(Audited)

(Unaudited)

(Audited)

Description

RM'000

RM'000

RM'000

RM'000

Current assets

Inventory properties

338,869

343,308

-

-

Inventories

67

67

-

-

Trade receivables

7,573

7,144

-

-

Other receivables, deposits, and prepayments

6,757

2,110

77

325

Amount due from subsidiaries

-

-

80,503

80,492

Cash on hand and at banks

1,275

1,299

34

11

354,541

353,928

80,614

80,828

Non-current assets held for sale

226,539

226,539

-

-

581,081

580,467

80,614

80,828

Non-current assets

Property, plant, and equipment

60,278

61,062

169

179

Intangible assets

393

432

-

-

Investment in subsidiaries

-

-

107,434

107,434

60,671

61,494

107,603

107,613

Total assets

641,752

641,961

188,217

188,441

Current liabilities

Trade payables

319,003

302,775

2,527

-

Other payables and accruals

86,444

101,575

17,722

22,854

Amount due to subsidiaries

-

-

5,656

-

Deferred revenue

5,306

5,000

-

-

Loans and borrowings

46,104

44,689

16,754

17,027

Provision for taxation

35,490

35,386

320

294

492,347

489,425

42,979

40,175

Non-current liabilities

Deferred tax liabilities

1,312

1,312

-

-

1,312

1,312

-

-

Total liabilities

493,659

490,737

42,979

40,175

Equity attributable to owners of the Company

Share capital

176,240

176,240

225,365

225,365

Share premium

3,824

3,824

645,582

645,582

Merger reserve

5,000

5,000

-

-

Equity component of convertible bond

186

186

186

186

Foreign currency translation reserve

1,700

1,525

2,610

2,392

Capital reserve

-

-

487

487

Accumulated losses

(38,857)

(35,551)

(728,992)

(725,746)

148,093

151,224

145,238

148,266

Total equity

148,093

151,224

145,238

148,266

Total liabilities and equity

641,752

641,961

188,217

188,441

-4-

1(b)(ii). In relation to the aggregate amount of the Group's borrowings and debt securities, specify the following at the end of the financial period reported on with comparative figures at the end of the immediately preceding financial year.

Group

As at 31/12/2020

As at 30/06/2020

(Unaudited)

(Audited)

RM'000

RM'000

Secured

Unsecured

Secured

Unsecured

Amount repayable within one year

46,104

-

44,689

-

Amount repayable after one year

-

-

-

-

46,104

-

44,689

-

The loans and borrowings are mainly secured by the following: -

The Group's secured borrowings as at 31 December 2020 and 30 June 2020 comprised (i) a HK$ loan which was secured by pledge and charge of certain shares by the controlling shareholders and corporate guarantee by the Company; and (ii) Convertible Loan which were secured by personal guarantees by the Company's CEO and an associate of the Company's controlling shareholders.

-5-

This is an excerpt of the original content. To continue reading it, access the original document here.

Disclaimer

Capital World Ltd. published this content on 23 September 2021 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 23 September 2021 00:41:01 UTC.


© Publicnow 2021
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Financials
Sales 2020 3,09 M 0,75 M 0,75 M
Net income 2020 -152 M -36,7 M -36,7 M
Net Debt 2020 41,4 M 9,98 M 9,98 M
P/E ratio 2020 -0,06x
Yield 2020 -
Capitalization 27,3 M 6,79 M 6,58 M
EV / Sales 2019 0,99x
EV / Sales 2020 22,2x
Nbr of Employees -
Free-Float 22,9%
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Managers and Directors
Chien Fu Siow Chief Executive Officer & Executive Director
Chai Chong Low Non-Executive Chairman
Kian Thong Lim Lead Independent Non-Executive Director
Kwong Fai Lam Independent Non-Executive Director
Choo Tan Ler Non-Independent Non-Executive Director