FGV HOLDINGS BERHAD
200701042133 (800165-P)
QUARTERLY REPORT
Condensed Consolidated Financial Statements
For The Financial Period Ended 30 September 2021
1
FGV HOLDINGS BERHAD
Unaudited Condensed Consolidated Statement of Comprehensive Income for the Quarter ended 30 September 2021
Quarter ended | Year to date ended | |||||||||||
30 September | 30 September | |||||||||||
Note | 2021 | 2020 | % | 2021 | 2020 | % | ||||||
RM'000 | RM'000 | +/(-) | RM'000 | RM'000 | +/(-) | |||||||
Revenue | ||||||||||||
5,315,802 | 3,989,459 | 33.2% | 13,391,041 | 10,066,906 | 33.0% | |||||||
Cost of sales | (4,488,376) | (3,428,210) | (11,665,559) | (9,033,557) | ||||||||
Gross profit | 827,426 | 561,249 | 47.4% | 1,725,482 | 1,033,349 | 67.0% | ||||||
Other operating income | 14,553 | 30,180 | 76,537 | 63,948 | ||||||||
Selling and distribution costs | (66,104) | (11,151) | (139,219) | (94,363) | ||||||||
Administrative expenses | (192,651) | (212,304) | (564,154) | (601,375) | ||||||||
(Impairment)/reversal of | ||||||||||||
impairment loss of financial | (7,247) | (3,477) | 13,900 | |||||||||
assets (net) | (7,592) | |||||||||||
Other operating expenses | (13,919) | (81,526) | (28,609) | (124,621) | ||||||||
Commodity gains - net | 73,466 | 39,284 | 97,202 | 90,281 | ||||||||
Operating profit | 635,524 | 322,255 | 97.2% | 1,159,647 | 381,119 | >100% | ||||||
Fair value changes in Land Lease | ||||||||||||
Agreement ('LLA') liability | (107,036) | (123,721) | (70,439) | (256,950) | ||||||||
Operating profit after LLA | 15 | 528,488 | 198,534 | >100% | 1,089,208 | 124,169 | >100% | |||||
Finance income | 3,309 | 4,251 | 13,347 | 17,077 | ||||||||
Finance costs | (43,977) | (37,680) | (112,502) | (126,411) | ||||||||
Share of results from associates | 531 | 39 | 978 | (110) | ||||||||
Share of results from joint ventures | 19,718 | 7,527 | 33,418 | 12,713 | ||||||||
Profit before zakat and taxation | 508,069 | 172,671 | >100% | 1,024,449 | 27,438 | >100% | ||||||
Zakat | (502) | (399) | (2,421) | (5,400) | ||||||||
Taxation | 16 | (106,529) | (59,739) | (270,277) | (71,326) | |||||||
Profit/(loss) for the financial period | 401,038 | 112,533 | >100% | 751,751 | (49,288) | >100% | ||||||
Profit/(loss) attributable to: | ||||||||||||
- Owners of the Company | 399,393 | 136,893 | >100% | 702,789 | 15,093 | >100% | ||||||
- Non-controlling interests | 1,645 | (24,360) | 48,962 | (64,381) | ||||||||
401,038 | 112,533 | >100% | 751,751 | (49,288) | >100% | |||||||
Other comprehensive income/(loss) | ||||||||||||
Actuarial (loss)/gains on defined | ||||||||||||
benefit plan | (1) | 341 | 319 | (1,070) | ||||||||
Fair value changes of financial | ||||||||||||
assets at fair value through | ||||||||||||
other comprehensive income | ||||||||||||
("FVOCI") | 60 | (22) | (4,337) | 11,962 | ||||||||
Share of other comprehensive | ||||||||||||
income/(loss) of joint ventures | 120 | (3,395) | (553) | (2,919) | ||||||||
Currency translation differences | (1,953) | (25,697) | 23,566 | 6,269 | ||||||||
Cash flow hedges | 1,090 | 554 | 4,049 | (5,747) | ||||||||
Other comprehensive | ||||||||||||
(loss)/income for the financial | ||||||||||||
period/year net of tax | (684) | (28,219) | 23,044 | 8,495 | ||||||||
Total comprehensive income/(loss) | ||||||||||||
for the financial period | 400,354 | 84,314 | >100% | 774,795 | (40,793) | >100% | ||||||
Total comprehensive | ||||||||||||
income/(loss) attributable to: | ||||||||||||
- Owners of the Company | 401,402 | 107,798 | >100% | 726,962 | 26,364 | >100% | ||||||
- Non-controlling interests | (1,048) | (23,484) | 47,833 | (67,157) | ||||||||
Total comprehensive income/(loss) | ||||||||||||
for the financial period | 400,354 | 84,314 | >100% | 774,795 | (40,793) | >100% | ||||||
Earnings per share for profit | ||||||||||||
attributable to the Owners of | ||||||||||||
the Company: | ||||||||||||
Basic (sen) | 20 | 10.95 | 3.75 | 19.26 | 0.41 |
The unaudited Condensed Consolidated Statement of Comprehensive Income should be read in conjunction with the accompanying explanatory notes attached to this quarterly report and the audited financial statements for the financial year ended 31 December 2020.
2
FGV HOLDINGS BERHAD
Unaudited Condensed Consolidated Statement of Financial Position as at 30 September 2021
Non-current assets
Property, plant and equipment Right-of-use assets Investment properties Intangible assets
Interests in associates Interests in joint ventures
Amount due from ultimate holding company Amount due from related company Deposit and other receivables
Deferred tax assets
Financial assets through other comprehensive income
Current assets
Inventories
Receivables Biological assets
Amount due from ultimate holding company Amounts due from joint ventures Amounts due from related companies
Tax recoverable
Financial assets at fair value through profit or loss Derivative financial assets
Contract assets
Deposits, cash and bank balances
Assets held for sale
Total assets
Equity
Share capital
Treasury shares
Reserves
Equity attributable to owners of the Company
Non-controlling interests
Total equity
Note
19
19
18
Unaudited | Audited | |
As at | As at | |
30 September | 31 December | |
2021 | 2020 | |
RM'000 | RM'000 | |
7,693,375 | 7,810,463 | |
2,219,821 | 2,299,579 | |
84,595 | 93,789 | |
949,772 | 958,289 | |
63,000 | 38,058 | |
467,755 | 441,546 | |
35,013 | 12,455 | |
29,247 | - | |
139,480 | 136,078 | |
453,012 | 526,672 | |
142,178 | 144,251 | |
12,277,248 | 12,461,180 | |
1,654,215 | 1,192,616 | |
1,752,211 | 1,410,955 | |
123,869 | 57,001 | |
26,302 | 62,440 | |
42,252 | 26,908 | |
61,088 | 63,660 | |
18,444 | 33,539 | |
79,892 | 68,201 | |
8,258 | 14,061 | |
35,616 | 27,880 | |
1,616,958 | 1,729,194 | |
5,419,105 | 4,686,455 | |
13,862 | 31,866 | |
5,432,967 | 4,718,321 | |
17,710,215 | 17,179,501 | |
7,029,889 | 7,029,889 | |
(518) | (518) | |
(2,150,151) | (2,767,668) | |
4,879,220 | 4,261,703 | |
1,842,286 | 1,838,504 | |
6,721,506 | 6,100,207 |
3
FGV HOLDINGS BERHAD
Unaudited Condensed Consolidated Statement of Financial Position as at 30 September 2021 (continued)
Unaudited | Audited | ||||
As at | As at | ||||
30 September | 31 December | ||||
Note | 2021 | 2020 | |||
RM'000 | RM'000 | ||||
Non-current liabilities | |||||
Borrowings | 17 | 633,542 | 773,182 | ||
Loans due to ultimate holding company | 17 | 832,362 | 882,866 | ||
LLA liability | 3,679,021 | 3,881,584 | |||
Derivative financial liabilities | 18 | 5,833 | 10,163 | ||
Provision for asset retirement | 35,784 | 32,358 | |||
Provision for defined benefit plan | 67,796 | 67,492 | |||
Lease liability | 282,205 | 358,036 | |||
Deferred tax liabilities | 598,360 | 635,501 | |||
Payables | 10,144 | 15,196 | |||
6,145,047 | 6,656,378 | ||||
Current liabilities | |||||
Payables | 1,120,366 | 1,049,465 | |||
Loans due to ultimate holding company | 17 | 13,813 | 3,322 | ||
Amount due to ultimate holding company | 296,392 | 265,984 | |||
Amounts due to associates | 350 | 494 | |||
Amounts due to related companies | 9,132 | 1,374 | |||
Borrowings | 17 | 2,693,315 | 2,633,582 | ||
Derivative financial liabilities | 18 | 1,095 | 929 | ||
Provision for asset retirement | 670 | 643 | |||
Lease liability | 47,380 | 27,790 | |||
LLA liability | 315,103 | 332,240 | |||
Contract liabilities | 191,097 | 104,168 | |||
Current tax liabilities | 154,949 | 2,925 | |||
4,843,662 | 4,422,916 | ||||
Total liabilities | 10,988,709 | 11,079,294 | |||
Total equity and liabilities | 17,710,215 | 17,179,501 | |||
Net assets per share attributable to | |||||
owners of the Company | 1.34 | 1.17 |
The unaudited Condensed Consolidated Statement of Financial Position should be read in conjunction with the accompanying explanatory notes attached to this quarterly report and the audited financial statements for the financial year ended 31 December 2020.
4
FGV HOLDINGS BERHAD
Unaudited Condensed Consolidated Statement of Changes in Equity
Foreign | Re- | Non- | |||||||
Share | Treasury | exchange | organisation | Other | Retained | controlling | Total | ||
capital | shares | reserve | reserve | reserves | earnings | Total | interests | equity | |
RM'000 | RM'000 | RM'000 | RM'000 | RM'000 | RM'000 | RM'000 | RM'000 | RM'000 | |
Year to date ended 30 September 2021 | |||||||||
At 1 January 2021 | 7,029,889 | (518) | 26,497 | (3,089,497) | 10,624 | 284,708 | 4,261,703 | 1,838,504 | 6,100,207 |
Profit for the financial period | - | - | - | - | - | 702,789 | 702,789 | 48,962 | 751,751 |
Other comprehensive income/(loss) for the financial period, net of tax:
Items that will not be reclassified to profit or loss
- actuarial gain on defined benefit plan
-
fair value changes in financial assets at
FVOCI
Items that will be subsequently reclassified to profit or loss
- currency translation differences
- share of other comprehensive loss of joint ventures
- cash flow hedge reserves
Total other comprehensive income/(loss) for the financial period
Transactions with owners
Dividend paid for the financial year ended 31 December 2020 (final)
Dividend paid to non-controlling interests of subsidiaries
Dissolvement of subsidiaries Total transactions with owners
At 30 September 2021
- | - | - | - | - | 196 | 196 | 123 | 319 |
- | - | - | - | (4,187) | - | (4,187) | (150) | (4,337) |
- | - | 26,652 | - | - | - | 26,652 | (3,086) | 23,566 |
- | - | (553) | - | - | - | (553) | - | (553) |
- | - | - | - | 2,065 | - | 2,065 | 1,984 | 4,049 |
- | - | 26,099 | - | 2,065 | - | 28,164 | (1,102) | 27,062 |
- | - | 26,099 | - | (2,122) | 702,985 | 726,962 | 47,833 | 774,795 |
- | - | - | - | - | (109,445) | (109,445) | - | (109,445) |
- | - | - | - | - | - | - | (42,364) | (42,364) |
- | - | - | - | - | - | - | (1,687) | (1,687) |
- | - | - | - | - | (109,445) | (109,445) | (44,051) | (153,496) |
7,029,889 | (518) | 52,596 | (3,089,497) | 8,502 | 878,248 | 4,879,220 | 1,842,286 | 6,721,506 |
5
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FGV Holdings Bhd published this content on 30 November 2021 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 30 November 2021 10:50:05 UTC.