Daibochi : SPAK Announces Quarter 1 FY2023 Results

SCIENTEX PACKAGING (AYER KEROH) BERHAD

(Formerly known as Daibochi Berhad) (Company No: 197201001354 [12994-W]) (Incorporated in Malaysia)

QUARTERLY REPORT

Quarterly report on consolidated results for the financial quarter ended 31 October 2022

The figures have not been audited.

CONDENSED CONSOLIDATED STATEMENT OF PROFIT OR LOSS

For the three months ended 31 October 2022

3 MONTHS ENDED
Current	Preceding year
year	corresponding
quarter	quarter
31.10.2022	31.10.2021
RM'000	RM'000

Revenue	213,916		180,315
Operating profit	17,452	9,538
Interest expense	(1,253)	(480)
Profit before tax
16,199	9,058
Taxation	(3,564)	407
Profit for the quarter / period
12,635		9,465
Profit attributable to:
Owners of the Company	12,275	9,800
Non-controlling interests	360	(335)
Profit for the quarter / period
12,635		9,465
Earnings per share attributable to owners
of the Company (sen per share)
- Basic	3.50		2.99

(The Condensed Consolidated Statement of Profit or Loss should be read in conjunction with the Audited Financial Statements for the year ended 31 July 2022)

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SCIENTEX PACKAGING (AYER KEROH) BERHAD

(Formerly known as Daibochi Berhad) (Company No: 197201001354 [12994-W]) (Incorporated in Malaysia)

QUARTERLY REPORT

Quarterly report on consolidated results for the financial quarter ended 31 October 2022

The figures have not been audited.

CONDENSED CONSOLIDATED STATEMENT OF COMPREHENSIVE INCOME For the three months ended 31 October 2022

	3 MONTHS ENDED
	Current		Preceding year
	year		corresponding
	quarter		quarter
	31.10.2022	31.10.2021
	RM'000		RM'000
Profit for the quarter / period	12,635	9,465
Other comprehensive loss, net of income tax:
Items that may be reclassified subsequently
to profit or loss:
- Foreign currency translation of foreign operations	(3,359)	(3,107)
Other comprehensive loss for the quarter / period,
net of income tax	(3,359)	(3,107)
Total comprehensive income for the quarter /
period, net of income tax	9,276		6,358
Total comprehensive income for the quarter /
period attributable to:
Owners of the Company	10,006	7,946
Non-controlling interests	(730)	(1,588)
	9,276		6,358

(The Condensed Consolidated Statement of Comprehensive Income should be read in conjunction with the Audited Financial Statements for the year ended 31 July 2022)

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SCIENTEX PACKAGING (AYER KEROH) BERHAD

(Formerly known as Daibochi Berhad) (Company No: 197201001354 [12994-W]) (Incorporated in Malaysia)

CONDENSED CONSOLIDATED STATEMENT OF FINANCIAL POSITION As at 31 October 2022

ASSETS

Non-current assets

Property, plant and equipment

Right-of-use assets

Deferred tax assets

Goodwill

Current assets

Inventories

Trade and other receivables

Tax recoverable

Cash and bank balances

TOTAL ASSETS

EQUITY AND LIABILITIES

Capital and reserves

Share capital Reserves

Equity attributable to owners of the Company Non-controlling interests

Total equity

Non-current liabilities

Lease liabilities

Deferred tax liabilities

Current liabilities

Borrowings

Lease liabilities

Trade and other payables

Tax liabilities

AS AT	AS AT
CURRENT	PRECEDING
FINANCIAL	FINANCIAL
QUARTER ENDED	YEAR ENDED
31.10.2022	31.7.2022
RM'000	RM'000
(Unaudited)	(Audited)
295,014	287,425
3,234	2,162
481	496
66,625	68,187
365,354	358,270
93,730	104,860
151,486	143,823
6,233	9,654
23,279	22,097
274,728	280,434
640,082	638,704
221,213	221,213
157,242	147,236
378,455	368,449
17,160	17,890
395,615	386,339
2,887	2,146
21,664	22,050
24,551	24,196
73,517	75,549
1,930	944
142,957	150,079
1,512	1,597
219,916	228,169

Total liabilities	244,467	252,365
TOTAL EQUITY AND LIABILITIES	640,082	638,704
Net assets per share attributable to owners of the Company (RM)	1.08	1.05

(The Condensed Consolidated Statement of Financial Position should be read in conjunction with the Audited Financial Statements for the year ended 31 July 2022)

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SCIENTEX PACKAGING (AYER KEROH) BERHAD

(Formerly known as Daibochi Berhad) (Company No: 197201001354 [12994-W]) (Incorporated in Malaysia)

CONDENSED CONSOLIDATED STATEMENT OF CHANGES IN EQUITY

For the three months ended 31 October 2022

			-------------------------------	Reserves-----------------------------			Attributable
			Non-distributable-----------------------		Distributable	to the equity	Non-
	Share	Treasury	Revaluation	Translation			Retained	holders of	controlling	Total
	capital	shares	reserve	reserves			earnings	the Company	interests	equity
	RM'000	RM'000	RM'000	RM'000			RM'000	RM'000	RM'000	RM'000
As at 1 August 2022	222,358	(1,145)	7,468	(7,458)	147,226	368,449	17,890	386,339
Profit for the period	-	-	-	-	12,275	12,275	360	12,635
Other comprehensive loss for the period	-	-	-	(2,269)	-	(2,269)	(1,090)	(3,359)
Total comprehensive income for the
-	-	-	(2,269)	12,275	10,006	(730)	9,276
period
As at 31 October 2022
222,358	(1,145)	7,468	(9,727)	159,501	378,455	17,160	395,615
As at 1 August 2021	164,235	(1,145)	7,468	(5,597)	112,259	277,220	19,996	297,216
Profit for the period	-	-	-	-	9,800	9,800	(335)	9,465
Other comprehensive income for the period	-	-	-	(1,854)	-	(1,854)	(1,253)	(3,107)
Total comprehensive income for the
-	-	-	(1,854)	9,800	7,946	(1,588)	6,358
period
As at 31 October 2021
164,235	(1,145)	7,468	(7,451)	122,059	285,166	18,408	303,574

(The Condensed Consolidated Statement Of Changes In Equity should be read in conjunction with the Audited Financial Statements for the year ended 31 July 2022)

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SCIENTEX PACKAGING (AYER KEROH) BERHAD

(Formerly known as Daibochi Berhad) (Company No: 197201001354 [12994-W]) (Incorporated in Malaysia)

CONDENSED CONSOLIDATED STATEMENT OF CASH FLOW

For the three months ended 31 October 2022

	3 MONTHS		3 MONTHS
	ENDED		ENDED
	31.10.2022	31.10.2021
	RM'000		RM'000
CASH FLOWS FROM/(USED IN) OPERATING ACTIVITIES
Profit before taxation	16,199	9,058
Adjustments	7,657	5,746
Operating profit before working capital changes	23,856		14,804
Movement in working capital:
Decrease/(increase) in inventories	9,487	(7,853)
Increase in receivables	(6,710)	(35,025)
(Decrease)/increase in payables	(5,253)	30,498
Cash generated from operations	21,380		2,424
Interest received	65	2
Taxation paid	(608)	(3,194)
Net cash from/(used in) operating activities	20,837		(768)
CASH FLOWS USED IN INVESTING ACTIVITIES
Proceeds from disposal of property, plant and equipment	-	6
Interest received	-	2
Purchase of property, plant and equipment	(14,326)	(11,611)
Deposit paid for purchase of property, plant and equipment	(2,368)	(15,769)
Net cash used in investing activities	(16,694)		(27,372)
CASH FLOWS (USED IN)/FROM FINANCING ACTIVITIES
Net (repayment)/drawdown of short-term borrowings	(2,012)	20,654
Repayment of term loans	-	(345)
Interest paid	(1,199)	(417)
Interest paid on lease liabilities	(54)	(63)
Repayment of lease liabilities	(225)	(186)
Net cash (used in)/from financing activities	(3,490)		19,643
NET CHANGE IN CASH AND CASH EQUIVALENTS	653	(8,497)
CASH AND CASH EQUIVALENTS AT BEGINNING OF THE PERIOD	22,097	24,603
Effect of exchange differences	529	(823)
CASH AND CASH EQUIVALENTS AT END OF THE PERIOD	23,279		15,283

(The Condensed Consolidated Statement of Cash Flow should be read in conjunction with the Audited Financial Statements for the year ended 31 July 2022)

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