12/13/23, 7:02 PM

General Announcement::Announcement by Eco World International Berhad ("EWI")

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

13-Dec-2023 19:00:27

Status

New

Announcement Sub Title

Announcement by Eco World International Berhad ("EWI")

Announcement Reference

SG231213OTHR4ZIS

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 4th Quarter ended 31 October 2023.

Attachments

EWI-Results_of_4Q_ended_31Oct23.pdf

Total size =716K MB

Quarterly rpt on consolidated results for the financial period ended 31 Oct 2023

ECO WORLD INTERNATIONAL BERHAD

Financial Year End

31 Oct 2023

Quarter

4 Qtr

Quarterly report for the financial

31 Oct 2023

period ended

The figures

have not been audited

Attachments

EWI Q4-2023 results.pdf

EWI 4Q 2023 Results PR.pdf

553.6 kB

226.5 kB

Default Currency Other Currency

Currency: Malaysian Ringgit (MYR)

SUMMARY OF KEY FINANCIAL INFORMATION

31 Oct 2023

INDIVIDUAL PERIOD

CUMULATIVE PERIOD

CURRENT

PRECEDING YEAR

CURRENT

PRECEDING

YEAR

CORRESPONDING

YEAR TO DATE

YEAR

QUARTER

QUARTER

CORRESPONDING

PERIOD

31 Oct 2023

31 Oct 2022

31 Oct 2023

31 Oct 2022

$$'000

$$'000

$$'000

$$'000

1

Revenue

28,554

43,145

104,798

159,964

2

Profit/(loss) before

-36,934

-94,645

-79,523

-229,360

tax

3

Profit/(loss) for the

-37,598

-95,423

-84,988

-233,256

period

4

Profit/(loss)

-37,694

-95,729

-85,373

-234,418

attributable to

ordinary equity

holders of the

parent

5

Basic

-1.57

-3.99

-3.56

-9.77

earnings/(loss) per

share (Subunit)

6

Proposed/Declared

6.00

0.00

39.00

0.00

dividend per share

(Subunit)

AS AT END OF CURRENT

AS AT PRECEDING FINANCIAL

QUARTER

YEAR END

7

Net assets per

0.6900

1.0200

share attributable

to ordinary equity

holders of the

parent ($$)

https://www.bursamalaysia.com/market_information/announcements/company_announcement/announcement_details?ann_id=3407767#1/2

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

Base Unit

Subunit

Malaysia

Ringgit

Sen

United States

Dollar

Cent

United Kingdom

Pound

Pence

Announcement Info

Company Name

ECO WORLD INTERNATIONAL BERHAD

Stock Name

EWINT

Date Announced

13 Dec 2023

Category

Financial Results

Reference Number

FRA-11122023-00001

https://www.bursamalaysia.com/market_information/announcements/company_announcement/announcement_details?ann_id=3407767#2/2

ECO WORLD INTERNATIONAL BERHAD

(Registration No: 201301030020 (1059850-A))

(Incorporated in Malaysia)

Interim Financial Report

31 October 2023

ECO WORLD INTERNATIONAL BERHAD

(Registration No: 201301030020 (1059850-A))

(Incorporated in Malaysia)

Interim Financial Report - 31 October 2023

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

12-17

1

ECO WORLD INTERNATIONAL BERHAD

(Registration No: 201301030020 (1059850-A))

(Incorporated in Malaysia)

CONDENSED CONSOLIDATED STATEMENT OF COMPREHENSIVE INCOME

FOR THE YEAR ENDED 31 OCTOBER 2023

(The figures have not been audited)

3 MONTHS ENDED

12 MONTHS ENDED

31 OCTOBER

31 OCTOBER

31 OCTOBER

31 OCTOBER

2023

2022

2023

2022

RM'000

RM'000

RM'000

RM'000

Revenue

28,554

43,145

104,798

159,964

Direct expenses

(23,941)

(35,922)

(86,803)

(130,275)

Gross profit

4,613

7,223

17,995

29,689

Other income

6,604

2,474

30,674

6,197

Marketing expenses

(1,529)

(2,419)

(5,780)

(6,605)

Administrative and general expenses

(10,627)

(9,344)

(36,134)

(38,199)

Reversal of impairment losses/(Impairment losses)

on investment in a joint venture

64,673

(37,949)

64,673

(74,111)

Impairment losses on amount owing by a joint venture

(90,961)

-

(90,961)

-

Gain/(Loss) on foreign exchange

15,530

(5,330)

31,637

(1,307)

Finance costs

(12)

(8,712)

(16,598)

(42,117)

Share of results in joint ventures

(25,225)

(40,588)

(75,029)

(102,907)

Loss before tax

(36,934)

(94,645)

(79,523)

(229,360)

Taxation

(664)

(778)

(5,465)

(3,896)

Loss for the period/year

(37,598)

(95,423)

(84,988)

(233,256)

Other comprehensive income/(loss), net of tax

Items that may be reclassified to profit or loss

subsequently:

-

358

832

484

Hedge of net investment

Exchange differences on translation of foreign

(8,398)

14,128

84,252

(134,296)

operations

Total comprehensive income/(loss) for

the period/year

(45,996)

(80,937)

96

(367,068)

Loss for the period/year attributable to:

Owners of the Company

(37,694)

(95,729)

(85,373)

(234,418)

Non-controlling interests

96

306

385

1,162

(37,598)

(95,423)

(84,988)

(233,256)

Total comprehensive income/(loss) for

period/year attributable to:

Owners of the Company

(46,095)

(81,244)

(364)

(368,114)

Non-controlling interests

99

307

460

1,046

(45,996)

(80,937)

96

(367,068)

Loss per share attributable to

owners of the Company:

Basic loss per share (sen)

(1.57)

(3.99)

(3.56)

(9.77)

(The Condensed Consolidated Statement of Comprehensive Income should be read in conjunction with the audited financial statements for the year ended 31 October 2022 and the accompanying explanatory notes)

2

ECO WORLD INTERNATIONAL BERHAD

(Registration No: 201301030020 (1059850-A))

(Incorporated in Malaysia)

CONDENSED CONSOLIDATED STATEMENT OF FINANCIAL POSITION

AS AT 31 OCTOBER 2023 (The figures have not been audited)

As At

As At

31 OCTOBER 2023

31 OCTOBER 2022

RM'000

RM'000

ASSETS

Non-current assets

Plant and equipment

1,321

1,691

Right-of-use assets

-

1,511

Goodwill

31

287

Investment in joint ventures

270,038

263,785

Inventories - land held for development

143,809

141,679

Amounts owing by joint ventures

606,324

941,258

Deferred tax assets

213

234

1,021,736

1,350,445

Current assets

Inventories - property development costs

31,370

114,437

Amounts owing by joint ventures

296,759

807,609

Trade and other receivables

23,321

22,549

Contract costs

60

807

Current tax assets

1,040

1,470

Other investments

33

41,123

Cash, bank balances and deposits

295,207

614,220

TOTAL ASSETS

647,790

1,602,215

1,669,526

2,952,660

EQUITY AND LIABILITIES

Equity

Share capital

1,092,454

2,592,454

Hedging reserve

-

(832)

Exchange translation reserve

84,189

12

Accumulated profits/(losses)

478,179

(144,447)

Equity attributable to owners of

the Company

1,654,822

2,447,187

Non-controlling interests

736

1,001

Total equity

1,655,558

2,448,188

Non-current liabilities

Lease liabilities

-

770

Deferred tax liabilities

41

1,184

41

1,954

3

ECO WORLD INTERNATIONAL BERHAD

(Registration No: 201301030020 (1059850-A))

(Incorporated in Malaysia)

CONDENSED CONSOLIDATED STATEMENT OF FINANCIAL POSITION

AS AT 31 OCTOBER 2023 (continued)

(The figures have not been audited)

As At

As At

31 OCTOBER 2023

31 OCTOBER 2022

RM'000

RM'000

Current liabilities

Trade and other payables

9,257

14,266

Contract liabilities

-

621

Borrowings

-

482,816

Lease liabilities

-

1,051

Current tax liabilities

4,670

2,932

Derivative financial liabilities

-

832

Total liabilities

13,927

502,518

13,968

504,472

TOTAL EQUITY AND LIABILITIES

1,669,526

2,952,660

Net assets per share attributable to

owners of the Company (RM)

0.69

1.02

(The Condensed Consolidated Statement of Financial Position should be read in conjunction with the audited financial statements for the year ended 31 October 2022 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 YEAR ENDED 31 OCTOBER 2023

(The figures have not been audited)

Attributable to owners of the Company

Non-distributable

At 1 November 2022

Other comprehensive (loss)/income for the year:

  • Hedge of net investment
  • Exchange differences on translation of foreign operations

(Loss)/Income for the year

Total comprehensive (loss)/income for the year Transfer to retained earnings

Transactions with owners of the Company: Dividend declared to owners of the Company

Dividend declared to non-controlling interests of a subsidiary

At 31 OCTOBER 2023

At 1 November 2021

Other comprehensive (loss)/income for the year:

  • Hedge of net investment
  • Exchange differences on translation of foreign operations (Loss)/Income for the year

Total comprehensive (loss)/income for the year

Transfer of reserves upon expiry of Warrants Transactions with owners of the Company:

Issuance of ordinary shares pursuant to exercise of warrants Dividend declared to non-controlling interests of a subsidiary

At 31 OCTOBER 2022

Exchange

Non-

Share

Warrant

Hedging

translation

Accumulated

controlling

Total

capital

reserve

reserve

reserve

profit/ (losses)

Total

interests

equity

RM'000

RM'000

RM'000

RM'000

RM'000

RM'000

RM'000

RM'000

2,592,454

-

(832)

12

(144,447)

2,447,187

1,001

2,448,188

-

-

832

-

-

832

-

832

-

-

-

84,177

-

84,177

75

84,252

-

-

-

-

(85,373)

(85,373)

385

(84,988)

-

-

832

84,177

(85,373)

(364)

460

96

(1,500,000)

-

-

-

1,500,000

-

-

-

-

-

-

-

(792,001)

(792,001)

-

(792,001)

-

-

-

-

-

-

(725)

(725)

1,092,454

-

-

84,189

478,179

1,654,822

736

1,655,558

2,592,451

276,418

(1,316)

134,192

(186,447)

2,815,298

1,976

2,817,274

-

-

484

-

-

484

-

484

-

-

-

(134,180)

-

(134,180)

(116)

(134,296)

-

-

-

-

(234,418)

(234,418)

1,162

(233,256)

-

-

484

(134,180)

(234,418)

(368,114)

1,046

(367,068)

-

(276,418)

-

-

276,418

-

-

-

3

-

-

-

-

3

-

3

-

-

-

-

-

-

(2,021)

(2,021)

2,592,454

-

(832)

12

(144,447)

2,447,187

1,001

2,448,188

(The Condensed Consolidated Statement of Changes In Equity should be read in conjunction with the audited financial statements for the year ended 31 October 2022 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 YEAR ENDED 31 OCTOBER 2023

(The figures have not been audited)

12 MONTHS ENDED

31 OCTOBER 2023

31 OCTOBER 2022

RM'000

RM'000

Cash Flows From Operating Activities

Loss before tax

(79,523)

(229,360)

Adjustments for:

Non-cash items

94,494

182,950

Non-operating items

(12,096)

37,336

Operating profit/(loss) before working capital changes

2,875

(9,074)

Changes in inventories

81,289

127,139

Changes in receivables and other current assets

1,717

(9,074)

Changes in payables and other current liabilities

2,566

(1,164)

Changes in contract liabilities

(614)

(763)

Changes in derivatives

(605)

-

Cash generated from operations

87,228

107,064

Interest received

721

228

Tax paid

(5,575)

(8,678)

Tax refund

1,150

8,585

Net cash generated from operating activities

83,524

107,199

Cash Flows From Investing Activities

Purchase of plant and equipment

(41)

(31)

Proceeds from disposal of plant and equipment

114

2

Net advances repaid by joint ventures

830,089

660,967

Withdrawal/(Placement) of restricted cash and

bank balances, and other investment

41,090

(22,363)

Interest received

27,588

4,553

Net cash generated from investing activities

898,840

643,128

Cash Flows From Financing Activities

Drawdown of borrowings

261,332

272,446

Repayment of borrowings

(744,053)

(690,383)

Proceeds from issuance of ordinary shares

-

3

Dividend paid to owners of the Company

(792,001)

-

Dividend paid to non-controlling interests of a subsidiary

(725)

(2,021)

Repayment of lease liabilities

(1,051)

(920)

Interest paid in relation to lease liabilities

(68)

(117)

Interest paid

(23,799)

(40,852)

Net cash used in financing activities

(1,300,365)

(461,844)

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GuocoLand Limited published this content on 13 December 2023 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 21 December 2023 01:59:37 UTC.