GuocoLand : Announcement of results for the 1st quarter ended 31 January 2024

GENERAL ANNOUNCEMENT::ANNOUNCEMENT BY ECO WORLD INTERNATIONAL BERHAD ("EWI")

Issuer & Securities

Issuer/ Manager

GUOCOLAND LIMITED

Securities

GUOCOLAND LIMITED - SG1R95002270 - F17

Stapled Security

No

Announcement Details

Announcement Title

General Announcement

Date &Time of Broadcast 20-Mar-2024 18:00:03

Status

New

Announcement Sub Title

Announcement by Eco World International Berhad ("EWI")

Announcement Reference

SG240320OTHRJ0D8

Submitted By (Co./ Ind. Name)

Mary Goh Swon Ping

Designation

Group Company Secretary

Description (Please provide a detailed description of the event in the box below)

Attached is the announcement by EWI on its results for the 1st Quarter ended 31 January 2024.

Attachments

EWI_results_1Q_ended_31Jan24.pdf

Total size =601K MB

https://links.sgx.com/1.0.0/corporate-announcements/YUAPVEOPQDQETGAT/073eb284de12ce1134030f210ce1f304ff9b19a11867ec2ed77528a… 1/1

Quarterly rpt on consolidated results for the financial period ended 31 Jan 2024

ECO WORLD INTERNATIONAL BERHAD

Financial Year End

31 Oct 2024

Quarter

1 Qtr

Quarterly report for the financial period ended

31 Jan 2024

The figures

have not been audited

Attachments

EWI Q1-2024 results.pdf 463.5 kB

Q1-2024 Press Release.pdf 166.6 kB

Default Currency

Other Currency

Currency: Malaysian Ringgit (MYR)

SUMMARY OF KEY FINANCIAL INFORMATION

31 Jan 2024

INDIVIDUAL PERIOD	CUMULATIVE PERIOD
CURRENT YEAR QUARTER	PRECEDING YEAR CORRESPONDING QUARTER	CURRENT YEAR TO DATE	PRECEDING YEAR CORRESPONDING PERIOD
31 Jan 2024	31 Jan 2023	31 Jan 2024	31 Jan 2023
$$'000	$$'000	$$'000	$$'000
1	Revenue	31,673	22,368	31,673	22,368
2	Profit/(loss) before tax	1,527	-30,357	1,527	-30,357
3	Profit/(loss) for the period	302	-30,754	302	-30,754
4	Profit/(loss) attributable to ordinary equity holders of the parent	182	-30,821	182	-30,821
5	Basic earnings/(loss) per share (Subunit)	0.01	-1.28	0.01	-1.28
6	Proposed/Declared dividend per share (Subunit)	0.00	0.00	0.00	0.00
AS AT END OF CURRENT QUARTER	AS AT PRECEDING FINANCIAL YEAR END
7	Net assets per share attributable to ordinary equity holders of the parent ($$)	0.6500	0.6900

Definition of Subunit:

In a currency system, there is usually a main unit (base) and subunit that is a fraction amount of the main unit. Example for the subunit as follows:

Country

Malaysia

United States

United Kingdom

Base Unit	Subunit
Ringgit	Sen
Dollar	Cent
Pound	Pence

ECO WORLD INTERNATIONAL BERHAD (Registration No: 201301030020 (1059850-A))

(Incorporated in Malaysia)

Interim Financial Report

31 January 2024

ECO WORLD INTERNATIONAL BERHAD
(Registration No: 201301030020 (1059850-A))
(Incorporated in Malaysia)
Interim Financial Report - 31 January 2024
Page No.
Condensed Consolidated Statement of Comprehensive Income	1
Condensed Consolidated Statement of Financial Position	2-3
Condensed Consolidated Statement of Changes In Equity	4
Condensed Consolidated Statement of Cash Flows	5-6
Notes to the Interim Financial Report	7-11
Additional Information Required by the Main Market Listing Requirements of
Bursa Malaysia Securities Berhad	12-16

1

ECO WORLD INTERNATIONAL BERHAD (Registration No: 201301030020 (1059850-A))

(Incorporated in Malaysia)

CONDENSED CONSOLIDATED STATEMENT OF COMPREHENSIVE INCOME

FOR THE PERIOD ENDED 31 JANUARY 2024

(The figures have not been audited)

3 MONTHS ENDED

31 JANUARY 2024 31 JANUARY 2023

RM'000 RM'000

Revenue	31,673	22,368
Direct expenses	(27,988)	(18,032)
Gross profit	3,685	4,336
Other income	3,312	4,460
Marketing expenses	(799)	(1,658)
Administrative and general expenses	(7,350)	(7,573)
Impairment loss on amount owing by a joint venture	(7,227)	-
Gain/(Loss) on foreign exchange	5,600	(25,974)
Finance costs	-	(7,982)
Share of results in joint ventures	4,306	4,034
Profit/(Loss) before tax	1,527	(30,357)
Taxation	(1,225)	(397)
Profit/(Loss) for the period	302	(30,754)
Other comprehensive income/(loss), net of tax
Items that may be reclassified to profit or loss
subsequently:
Hedge of net investment	-	28
Exchange differences on translation of foreign
operations	44,122	(67,910)
Total comprehensive income/(loss) for
the period	44,424	(98,636)
Profit/(Loss) for the period attributable to:
Owners of the Company	182	(30,821)
Non-controlling interests	120	67
302	(30,754)
Total comprehensive income/(loss) for
period attributable to:
Owners of the Company	44,276	(98,664)
Non-controlling interests	148	28
44,424	(98,636)
Earning/(Loss) per share attributable to
owners of the Company:
Basic earning/(loss) per share (sen)	0.01	(1.28)

(The Condensed Consolidated Statement of Comprehensive Income should be read in conjunction with the audited financial statements for the year ended 31 October 2023 and the accompanying explanatory notes)

ECO WORLD INTERNATIONAL BERHAD (Registration No: 201301030020 (1059850-A))

(Incorporated in Malaysia)

CONDENSED CONSOLIDATED STATEMENT OF FINANCIAL POSITION

AS AT 31 JANUARY 2024

(The figures have not been audited)

As At	As At
31 JANUARY 2024	31 OCTOBER 2023
RM'000	RM'000
ASSETS
Non-current assets
Plant and equipment	1,075	1,321
Goodwill	-	31
Investment in joint ventures	264,205	270,038
Inventories - land held for development	147,787	143,809
Amounts owing by joint ventures	641,872	606,324
Deferred tax assets	696	213
1,055,635	1,021,736
Current assets
Inventories - property development costs	4,177	31,370
Amounts owing by joint ventures	268,758	296,759
Trade and other receivables	24,306	23,321
Contract costs	-	60
Current tax assets	2,137	1,040
Other investments	33	33
Cash and cash equivalents	210,770	295,207
510,181	647,790
TOTAL ASSETS	1,565,816	1,669,526
EQUITY AND LIABILITIES
Equity
Share capital	1,092,454	1,092,454
Exchange translation reserve	128,283	84,189
Retained earnings	334,361	478,179
Equity attributable to owners of
the Company	1,555,098	1,654,822
Non-controlling interests	884	736
Total equity	1,555,982	1,655,558
Non-current liabilities
Deferred tax liabilities	6	41
6	41

ECO WORLD INTERNATIONAL BERHAD (Registration No: 201301030020 (1059850-A))

(Incorporated in Malaysia)

CONDENSED CONSOLIDATED STATEMENT OF FINANCIAL POSITION

AS AT 31 JANUARY 2024 (continued)

(The figures have not been audited)

As At	As At
31 JANUARY 2024	31 OCTOBER 2023
RM'000	RM'000
Current liabilities
Trade and other payables	7,168	9,257
Current tax liabilities	2,660	4,670
9,828	13,927
Total liabilities	9,834	13,968
TOTAL EQUITY AND LIABILITIES	1,565,816	1,669,526
Net assets per share attributable to
owners of the Company (RM)	0.65	0.69

(The Condensed Consolidated Statement of Financial Position should be read in conjunction with the audited financial statements for the year ended 31 October 2023 and the accompanying explanatory notes)

4

ECO WORLD INTERNATIONAL BERHAD (Registration No: 201301030020 (1059850-A))

(Incorporated in Malaysia)

CONDENSED CONSOLIDATED STATEMENT OF CHANGES IN EQUITY

FOR THE PERIOD ENDED 31 JANUARY 2024

(The figures have not been audited)

Attributable to owners of the Company Non-distributable

Distributable
retained
Exchange	earnings/	Non-
Share	Hedging	translation	(Accumulated	controlling	Total
capital	reserve	reserve	losses)	Total	interests	equity
RM'000	RM'000	RM'000	RM'000	RM'000	RM'000	RM'000
At 1 November 2023	1,092,454	-	84,189	478,179	1,654,822	736	1,655,558
Other comprehensive income for the period:
- Exchange differences on translation of foreign operations	-	-	44,094	-	44,094	28	44,122
Income for the period	-	-	-	182	182	120	302
Total comprehensive income for the period	-	-	44,094	182	44,276	148	44,424
Transactions with owners of the Company:
Dividends paid to owners of the Company	-	-	-	(144,000)	(144,000)	-	(144,000)
At 31 JANUARY 2024	1,092,454	-	128,283	334,361	1,555,098	884	1,555,982
At 1 November 2022	2,592,454	(832)	12	(144,447)	2,447,187	1,001	2,448,188
Other comprehensive (loss)/income for the period:
- Hedge of net investment	-	28	-	-	28	-	28
- Exchange differences on translation of foreign operations	-	-	(67,871)	-	(67,871)	(39)	(67,910)
(Loss)/Income for the period	-	-	-	(30,821)	(30,821)	67	(30,754)
Total comprehensive (loss)/income for the period	-	28	(67,871)	(30,821)	(98,664)	28	(98,636)
At 31 JANUARY 2023	2,592,454	(804)	(67,859)	(175,268)	2,348,523	1,029	2,349,552

(The Condensed Consolidated Statement of Changes In Equity should be read in conjunction with the audited financial statements for the year ended 31 October 2023 and the accompanying explanatory notes)

5

ECO WORLD INTERNATIONAL BERHAD (Registration No: 201301030020 (1059850-A))

(Incorporated in Malaysia)

CONDENSED CONSOLIDATED STATEMENT OF CASH FLOWS

FOR THE PERIOD ENDED 31 JANUARY 2024

(The figures have not been audited)

3 MONTHS ENDED

31 JANUARY 2024 31 JANUARY 2023

RM'000 RM'000

Cash Flows From Operating Activities

Profit/(Loss) before tax	1,527	(30,357)
Adjustments for:
Non-cash items	(1,651)	6,650
Non-operating items	(3,011)	3,736
Operating loss before working capital changes	(3,135)	(19,971)
Changes in inventories	27,780	17,906
Changes in receivables and other current assets	80	1,730
Changes in payables and other current liabilities	(2,213)	941
Changes in contract liabilities	-	(520)
Cash generated from operations	22,512	86
Interest received	391	85
Tax paid	(4,966)	(2,151)
Net cash generated from/(used in) operating activities	17,937	(1,980)
Cash Flows From Investing Activities
Purchase of plant and equipment	(5)	-
Net advances repaid by joint ventures	16,418	294,884
Placement of other investment	-	(216,249)
Dividends received from joint venture	19,301	-
Interest received	2,277	4,161
Net cash generated from investing activities	37,991	82,796
Cash Flows From Financing Activities
Drawdown of borrowings	-	128,610
Repayment of borrowings	-	(147,412)
Dividends paid to owners of the Company	(144,000)	-
Repayment of lease liabilities	-	(251)
Interest paid in relation to lease liabilities	-	(22)
Interest paid	-	(9,118)
Net cash used in financing activities	(144,000)	(28,193)