DFCITY Berhad : - Financial Result Q3 2021 (Attachment)

DFCITY GROUP BERHAD

(formerly known as Hock Heng Stone Industries Bhd.) (Company No. : 200801038692 (840040-H))

(Incorporated in Malaysia)

Condensed Consolidated

Interim Financial Statements

For the third quarter ended

30 September 2021

Company No. : 200801038692 (840040-H)

DFCITY Group Berhad

(formerly known as Hock Heng Stone Industries Bhd.) (Incorporated in Malaysia)

Condensed Consolidated Statements of Comprehensive Income For the third quarter ended 30 September 2021

(The figures have not been audited)

			Individual quarter		Cumulative quarter
					Preceding year				Preceding year
			Current year		corresponding		Current year-		corresponding
			quarter ended		quarter ended		to-date		period
		Note	30.09.2021	30.09.2020	30.09.2021	30.09.2020
			RM'000		RM'000		RM'000		RM'000
Continuing operations
Revenue		2,266	4,433	12,281	10,416
Cost of sales		(1,801)		(3,383)		(10,178)		(8,748)
Gross profit		465	1,050	2,103	1,668
Other income		762	1,299	2,174	2,894
Administrative, general and
selling expenses		(1,007)		(1,593)		(3,764)		(4,251)
Operating profit		220	756	513	311
Finance costs		(344)		(786)		(1,200)		(1,468)
Loss before tax	24	(124)	(30)	(687)	(1,157)
Income tax expense	25	74		(127)		(152)		10
Loss for the period		(50)		(157)		(839)		(1,147)
Other comprehensive income		-	-	-	-
Total comprehensive loss
for the period		(50)	(157)	(839)	(1,147)
Profit/Loss attributable to:
Owners of the parent		5	54	(662)	(944)
Non-controlling interests		(55)		(211)		(177)		(203)
			(50)	(157)	(839)	(1,147)
Total comprehensive profit/(loss)
attributable to:
Owners of the parent		5	54	(662)	(944)
Non-controlling interests		(55)		(211)		(177)		(203)
			(50)	(157)	(839)	(1,147)
Profit/(Loss) per share attributable
to owners of the parent:
Basic, for the period (sen)	35	0.01	0.06	(0.75)	(1.07)
Diluted, for the period (sen)	35	N/A		N/A		N/A		N/A
Notes:
N/A	Not applicable

These Condensed Consolidated Statements of Comprehensive Income should be read in conjunction with the audited financial statements for the financial year ended 31 December 2020 and the accompanying explanatory notes attached to these interim financial statements.

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Company No. : 200801038692 (840040-H)
DFCITY Group Berhad
(formerly known as Hock Heng Stone Industries Bhd.)
(Incorporated in Malaysia)
Condensed Consolidated Statements of Financial Position
As at 30 September 2021
		Unaudited		Audited
		As at		As at
	Note	30.09.2021	31.12.2020
		RM'000		RM'000
Assets
Non-current assets
Property, plant and equipment	7	18,699	19,084
Investment properties	8	4,067	5,551
Right-of-use assets		2,769	3,411
Inventories		4,076	4,076
Deferred tax assets		106		-
		29,717	32,122
Current assets
Assets held for sale		-	1,184
Inventories	9	55,873	55,339
Trade receivables and other receivables	27	6,303	4,728
Other current assets		832	435
Contract assets		854	-
Current tax assets		428	490
Cash and bank balances		1,413		2,907
		65,703		65,083
Total assets		95,420	97,205
Equity and liabilities
Equity attributable to owners of the parent
Share capital		44,398	44,398
Treasury shares		(15)	(15)
Retained earnings		9,344		10,006
		53,727	54,389
Non-controlling interests		(715)		(538)
Total equity		53,012	53,851
Non-current liabilities
Deferred tax liabilities		-	58
Borrowings	28	18,155	19,167
Lease liabilities	28	114		439
		18,269	19,664
Current liabilities
Trade payables and other payables		10,685	10,151
Contract liabilities			163
Lease liabilities	28	252	321
Borrowings	28	13,202		13,055
		24,139		23,690
Total liabilities		42,408		43,354
Total equity and liabilities		95,420	97,205
Net assets per share attributable to equity holders
of the Company (sen)		61.06		61.81

These Condensed Consolidated Statements of Financial Position should be read in conjunction with the audited financial statements for the financial year ended 31 December 2020 and the accompanying explanatory notes attached to these interim financial statements.

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Company No. : 200801038692 (840040-H)
DFCITY Group Berhad
(formerly known as Hock Heng Stone Industries Bhd.)
(Incorporated in Malaysia)
Condensed Consolidated Statements of Changes in Equity
For the third quarter ended 30 September 2021
(The figures have not been audited)
	Attributable to equity holders of the parent
				Total equity
			Distributable	attributable	Non-
	Share	Treasury	Retained	to owners of	controlling	Total
	capital	shares	earnings	the parent	interests	equity
	RM'000	RM'000	RM'000	RM'000	RM'000	RM'000
Opening balance at 1 January 2020	44,398	(15)	11,095	55,478	(296)	55,182
Total comprehensive loss for the period	-	-	(944)	(944)	(203)	(1,147)
Closing balance at 30 September 2020	44,398	(15)	10,151	54,534	(499)	54,035
Opening balance at 1 January 2021	44,398	(15)	10,006	54,389	(538)	53,851
Total comprehensive loss for the period	-	-	(662)	(662)	(177)	(839)
Closing balance at 30 September 2021	44,398	(15)	9,344	53,727	(715)	53,012

These Condensed Consolidated Statements of Changes in Equity should be read in conjunction with the audited financial statements for the financial year ended 31 December 2020 and the accompanying explanatory notes attached to these interim financial statements.

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Company No. : 200801038692 (840040-H)
DFCITY Group Berhad
(formerly known as Hock Heng Stone Industries Bhd.)
(Incorporated in Malaysia)
Condensed Consolidated Statements of Cash Flows
For the third quarter ended 30 September 2021
(The figures have not been audited)
				Preceding year
		Current year-		corresponding
		to-date		period
	Note	30.09.2021	30.09.2020
		RM'000		RM'000
Cash flows from operating activities
Loss before tax		(687)	(1,157)
Adjustment for:
Amortisation of right-of-use assets		267	310
Depreciation of property, plant and equipment		743	836
Depreciation of investment properties		97	110
Impairment loss on trade receivables		118	81
Reversal of impairment loss on trade receivables		(997)	(281)
Bad debt written off		118	-
Unrealised loss on foreign exchange		5	2
Gain on disposal of property, plant and equipment		(85)	(24)
Gain on disposal of investment properties		(708)	-
Inventories written down		-	20
Interest expense		1,200	1,468
Interest income		(10)		(18)
Operating (loss)/profit before changes in working capital		61	1,347
Changes in working capital:
Property development costs		(14)	(12)
Inventories		(520)	702
Receivables		(577)	(238)
Contract asset		(1,219)	(76)
Other current assets		(397)	75
Payables		529		796
Cash generated (used in)/from operations		(2,137)	2,594
Income tax paid		(149)		(236)
Net cash (used in)/from operating activities		(2,286)	2,358
Cash flows from investing activities
Purchase of property, plant and equipment	7	-	(130)
Proceeds from disposal of property, plant and equipment	7	830	25
Proceeds from disposal of investment property	8	2,590	-
Interest received		10		18
Net cash from/(used in) investing activities		3,430	(87)
Cash flows from financing activities
Deposit withdrew from licensed banks		78	90
Interest paid		(1,200)	(1,468)
Increase of short term borrowings		835	77
Repayment of term loans		(1,524)	(458)
Repayment of obligation under finance leases		(394)		(231)
Net cash used in financing activities		(2,205)		(1,990)

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