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.