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    1J7   MYA013922002

JAWALA INC.

(1J7)
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Financial Statements and Related Announcement::Full Yearly Results

09/29/2021 | 06:12am EST

JAWALA INC.

(Incorporated in Labuan on 8 August 2017)

(Company Registration No. LL13922)

UNAUDITED FINANCIAL STATEMENTS AND DIVIDEND ANNOUNCEMENT

FOR THE SIX MONTHS AND FULL YEAR ENDED 31 JULY 2021

This announcement has been prepared by Jawala Inc. (the "Company") and its contents have been reviewed by UOB Kay Hian Private Limited (the "Sponsor") for compliance with the Singapore Exchange Securities Trading Limited ("SGX-ST") Listing Manual Section B: Rules of Catalist.

This announcement has not been examined or approved by the SGX-ST and the SGX-ST assumes no responsibility for the contents of this announcement, including the accuracy, completeness or correctness of any of the information, statements or opinions made or reports contained in this announcement.

The contact person for the Sponsor is Mr Lance Tan, Senior Vice President, at 8 Anthony Road, #01- 01, Singapore 229957, telephone (65) 6590 6881.

Background

The Company was incorporated in Labuan on 8 August 2017 in Labuan, Malaysia under the Labuan Companies Act as a company limited by shares under the name "Jawala Inc.".

The Company is a forest resource company based in Malaysia with a focus on industrial tree plantations situated in Sabah. The Company's main business is the management of forestry resources, and the planting and extraction of timber. The Company with its subsidiary corporation (the "Group") focus on the cultivation of industrial tree plantations through the implementation of sustainable forest management practices.

Page 1 of 23

TABLE OF CONTENTS

A.

Condensed interim consolidated statement of profit or loss and other

3

comprehensive income

B

Condensed interim statements of financial position

4

C

Condensed interim statements of changes in equity

5

D

Condensed interim consolidated statement of cash flows

6

E

Notes to the condensed interim consolidated financial statements

7 - 16

F

Other information required by Listing Rule Appendix 7C

17 - 23

Page 2 of 23

  1. CONDENSED INTERIM CONSOLIDATED STATEMENT OF PROFIT OR LOSS AND OTHER COMPREHENSIVE INCOME

Group

6 months ended

12 months ended

31 July

31 July

2021

2020

Increase/

FY2021

FY2020

Increase/

(Unaudited)

(Unaudited)

(Decrease)

(Unaudited)

(Audited)

(Decrease)

Note

RM'000

RM'000

%

RM'000

RM'000

%

Revenue

4

17,678

1,962

801

33,659

20,712

63

Cost of sales

(8,070)

(1,073)

652

(15,610)

(9,328)

67

Gross profit

9,608

889

981

18,049

11,384

59

Other income

325

764

(57)

695

1,203

(42)

Expenses

- Distribution

(823)

(49)

1,580

(1,106)

(896)

23

- Administrative

(3,963)

(3,334)

19

(6,868)

(6,400)

7

- Finance

(23)

(51)

(55)

(102)

(105)

(3)

Profit/(loss)

before tax

6

5,124

(1,781)

NM

10,668

5,186

106

Income tax

expense

7

(1,361)

(147)

826

(2,752)

(1,706)

61

Total

comprehensive

income/(loss),

representing net

profit/(loss)

3,763

(1,928)

NM

7,916

3,480

127

Total

comprehensive

income/(loss)

and net

profit/(loss)

attributable to:

Equity holders of

the Company

2,502

(1,487)

NM

5,341

2,203

142

Non-controlling

interests

1,261

(441)

NM

2,575

1,277

102

3,763

(1,928)

NM

7,916

3,480

127

Profit/(loss) per

share attributable

to owners of the

Company (RM)

0.02

(0.01)

0.05

0.02

Page 3 of 23

B. CONDENSED INTERIM STATEMENTS OF FINANCIAL POSITION

Group

Company

As at

As at

As at

As at

31 July 2021

31 July

31 July 2021

31 July

Note

(Unaudited)

2020

(Unaudited)

2020

RM'000

(Audited)

RM'000

(Audited)

RM'000

RM'000

ASSETS

Current assets

Cash and cash equivalents

8

33,965

30,711

6,093

8,185

Trade and other receivables

9

8,672

2,204

8,402

5,295

Income tax recoverable

685

1,413

-

-

Inventories

874

66

-

-

Total current assets

44,196

34,394

14,495

13,480

Non-current assets

Other receivables

9

1,180

878

-

-

Investment in subsidiary

-

-

2,350

2,350

Property, plant and equipment

10

2,515

2,146

-

-

Right-of-use assets

1,036

1,169

-

-

Biological assets

11

8,656

5,619

-

-

Intangible assets

12

470

475

-

-

Total non-current assets

13,857

10,287

2,350

2,350

Total assets

58,053

44,681

16,845

15,830

LIABILITIES

Current liabilities

Trade and other payables

13

3,494

1,187

371

581

Borrowings

14

165

146

-

-

Total current liabilities

3,659

1,333

371

581

Non-current liabilities

Borrowings

14

4,358

1,212

-

-

Deferred income tax liabilities

2,253

1,463

-

-

Total non-current liabilities

6,611

2,675

-

-

Total liabilities

10,270

4,008

371

581

Net assets

47,783

40,673

16,474

15,249

EQUITY

Capital and reserves attributable

to equity holders of the

Company

Share capital

15

15,207

15,207

15,207

15,207

Retained profits

16

22,469

17,128

1,267

42

37,676

32,335

16,474

15,249

Non-controlling interests

10,107

8,338

-

-

Total equity

47,783

40,673

16,474

15,249

Page 4 of 23

  1. CONDENSED INTERIM STATEMENTS OF CHANGES IN EQUITY Group

Non-

Share

Retained

Total

controlling

Total

capital

profits

interest

equity

FY2021 (Unaudited)

Note

RM'000

RM'000

RM'000

RM'000

RM'000

At 1 August 2020

15,207

17,128

32,335

8,338

40,673

Total comprehensive

income for the financial

year

-

5,341

5,341

2,575

7,916

Dividend declared

17

-

-

-

(806)

(806)

At 31 July 2021

15,207

22,469

37,676

10,107

47,783

FY2020 (Audited)

At 1 August 2019

15,207

16,394

31,601

7,370

38,971

Total comprehensive

income for the financial

year

-

2,203

2,203

1,277

3,480

Dividend declared

17

-

(1,469)

(1,469)

(309)

(1,778)

At 31 July 2020

15,207

17,128

32,335

8,338

40,673

Company

Share

Retained

capital

profits

Total

Note

RM'000

RM'000

RM'000

FY2021 (Unaudited)

At 1 August 2020

15,207

42

15,249

Total comprehensive income

for

1,225

the financial year

-

1,225

At 31 July 2021

15,207

1,267

16,474

Note

FY2020 (Audited)

At 1 August 2019

Total comprehensive loss for

the financial year

Dividend paid

17

At 31 July 2020

Share

Retained

capital

profits

Total

RM'000

RM'000

RM'000

15,207

1,546

16,753

-

(35)

(35)

-

(1,469)

(1,469)

15,207

42

15,249

Page 5 of 23

This is an excerpt of the original content. To continue reading it, access the original document here.

Disclaimer

Jawala Inc. published this content on 29 September 2021 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 29 September 2021 10:11:14 UTC.


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Financials
Sales 2021 33,7 M 7,96 M 7,96 M
Net income 2021 5,34 M 1,26 M 1,26 M
Net cash 2021 29,5 M 6,97 M 6,97 M
P/E ratio 2021 3,99x
Yield 2021 5,20%
Capitalization 45,6 M 10,8 M 10,8 M
EV / Sales 2020 1,04x
EV / Sales 2021 1,08x
Nbr of Employees 72
Free-Float 15,0%
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Income Statement Evolution
Managers and Directors
Abdul Rahmn Khan bin Hakim Khan Chief Executive Officer & Executive Director
Lay Ching Tan Chief Financial Officer
Jema Anton Khan Non-Independent Non-Executive Chairman
Maxy Self Chief Operations Officer
Yong Soon Lee Lead Independent Non-Executive Director
Sector and Competitors