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    1D5   KYG8763X1189

CAPITAL WORLD LIMITED

(1D5)
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Financial Statements and Related Announcement::Third Quarter Results

09/30/2021 | 09:02am EST

CAPITAL WORLD LIMITED

(Company Registration No: CT-276295)

(Incorporated in the Cayman Islands on 15 March 2013)

UNAUDITED FINANCIAL STATEMENTS FOR THE THIRD QUARTER ENDED 31 MARCH 2021

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

Third quarter ended 31

Nine months ended 31

March

March

2021

2020

Change

2021

2020

Change

(Unaudited)

(Unaudited)

(Unaudited)

(Unaudited)

Description

RM'000

RM'000

%

RM'000

RM'000

%

Revenue

-

128

n.m.

509

2,770

(81.6)

Cost of sales

(22)

(690)

(96.8)

(134)

(5,208)

(97.4)

Gross Profit/(Loss)

(22)

(562)

(96.1)

375

(2,438)

(115.4)

Other income

2,426

6,000

(59.6)

7,542

7,546

(0.1)

Selling and distribution

-

expenses

-

(9)

n.m.

(182)

n.m.

General and

administrative expenses

(5,446)

(4,573)

19.1

(12,650)

(23,843)

(46.9)

Finance costs

(742)

(1,451)

(48.9)

(2,279)

(4,561)

(50.0)

Loss before income tax

(3,784)

(595)

(7,012)

(23,478)

Income tax credit/

(expense)

16

93

(82.8)

(62)

278

Loss for the year

(3,768)

(502)

(7,074)

(23,200)

Other comprehensive

income

Items that may be

reclassified subsequently

to profit or loss:

Exchange differences

arising from translation of

foreign operations, net of

tax

1,116

(558)

(300.0)

1,291

(30)

(4403.3)

Total comprehensive

loss for the year

(2,652)

(1,060)

(5,783)

(23,230)

Loss for the year

attributable to:

Owners of the Company

(3,768)

(1,615)

133.3

(7,074)

(24,030)

(70.6)

Non-controlling interests

-

1,113

n.m.

-

830

n.m.

(3,768)

(502)

(7,074)

(23,200)

Total comprehensive

loss for the year

attributable to:

Owners of the Company

(2,652)

(2,173)

22.0

(5,783)

(24,060)

(76.0)

Non-controlling interests

-

1,113

n.m.

-

830

n.m.

(2,652)

(1,060)

(5,783)

(23,230)

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

Third quarter ended 31

Nine months ended 31

March

March

2021

2020

Change

2021

2020

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

-

(40)

n.m.

(37)

(334)

(88.9)

Reimbursement of

operating expenses

(2,394)

-

n.m.

(7,183)

-

n.m.

Gain on disposal of

subsidiaries

-

(5,566)

n.m.

-

(5,183)

n.m.

Audit fees:

- Auditors of the Company

70

-

n.m.

238

-

n.m.

Depreciation of property,

plant and equipment

445

998

(55.5)

1,225

3,697

(66.9)

Depreciation of investment

properties

-

1,156

n.m.

-

3,467

n.m.

Amortisation of mining

rights

-

224

n.m.

40

973

(95.9)

Employee benefit expense:

- Salaries and bonuses

197

2,407

(91.8)

539

3,611

(85.0)

- Social security

contributions

1

8

(75.0)

4

11

(72.7)

- Contributions to defined

contribution plan

24

176

(86.4)

67

264

(74.6)

Unrealised foreign exchange

losses

1,518

-

n.m.

-

-

n.m.

Interest expense:

- Loans and borrowings

742

1,451

(48.9)

2,276

4,561

(50.1)

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

31/03/2021

30/06/2020

31/03/2021

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

7,293

7,144

-

-

Other receivables, deposits, and prepayments

9,913

2,110

152

325

Amount due from subsidiaries

-

-

81,561

80,492

Cash on hand and at banks

1,108

1,299

9

11

357,250

353,928

81,722

80,828

Non-current assets held for sale

226,539

226,539

-

-

583,789

580,467

81,722

80,828

Non-current assets

Property, plant, and equipment

59,794

61,062

167

179

Intangible assets

392

432

-

-

Investment in subsidiaries

-

-

107,434

107,434

60,186

61,494

107,601

107,613

Total assets

643,975

641,961

189,323

188,441

Current liabilities

Trade payables

320,706

302,775

3,232

-

Other payables and accruals

89,899

101,575

19,349

22,854

Amount due to subsidiaries

-

-

5,995

-

Deferred revenue

4,818

5,000

-

-

Loans and borrowings

46,369

44,689

17,002

17,027

Provision for taxation

35,429

35,386

275

294

497,221

489,425

45,853

40,175

Non-current liabilities

Deferred tax liabilities

1,312

1,312

-

-

1,312

1,312

-

-

Total liabilities

498,533

490,737

45,853

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 loan

186

186

186

186

Foreign currency translation reserve

2,816

1,525

3,015

2,392

Capital reserve

-

-

487

487

Accumulated losses

(42,624)

(35,551)

(731,165)

(725,746)

Total equity

145,442

151,224

143,470

148,266

Total liabilities and equity

643,975

641,961

189,323

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 31/03/2021

As at 30/06/2020

(Unaudited)

(Audited)

RM'000

RM'000

Secured

Unsecured

Secured

Unsecured

Amount repayable within one year

46,369

-

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 March 2021 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 30 September 2021 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 30 September 2021 13:01:03 UTC.


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Financials
Sales 2021 3,16 M 0,75 M 0,75 M
Net income 2021 -176 M -41,6 M -41,6 M
Net Debt 2021 44,3 M 10,5 M 10,5 M
P/E ratio 2021 -0,05x
Yield 2021 -
Capitalization 27,3 M 6,70 M 6,46 M
EV / Sales 2020 22,2x
EV / Sales 2021 22,6x
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