Kuala Lumpur Kepong : Third Quarter 2022Ended 30 June 2022

KUALA LUMPUR KEPONG BERHAD

197301001526 (15043-V)

Interim Financial Report

For the third quarter ended 30 June 2022

KUALA LUMPUR KEPONG BERHAD

197301001526 (15043-V)

The Directors are pleased to announce the unaudited financial results of the Group for the third quarter ended 30 June 2022.

Condensed Consolidated Statement of Profit or Loss

For the third quarter ended 30 June 2022

(The figures have not been audited.)

	Individual Quarter		Cumulative Quarter
	3 months ended		9 months ended
	30 June		30 June
	2022	2021	+/(-)	2022	2021	+/(-)
	RM'000		RM'000	%	RM'000		RM'000	%
Revenue	6,961,351	5,172,758	34.6	20,172,770	13,981,263	44.3
Operating expenses	(6,188,423)	(4,559,216)	35.7	(17,818,101)	(12,521,175)	42.3
Other operating income	76,195	395,575	(80.7)	330,637	767,228	(56.9)
Finance costs	(97,613)	(58,679)	66.4	(252,312)	(174,424)	44.7
Net reversals of impairment/(impairment
losses) on financial assets	678	(5,134)	N/M	23,586	(2,103)	N/M
Share of results of associates	1,620	2,490	(34.9)	30,185	30,818	(2.1)
Share of results of joint ventures	(143)		5,522	N/M	5,323		14,864	(64.2)
Profit before taxation	753,665	953,316	(20.9)	2,492,088	2,096,471	18.9
Taxation	(143,239)		(124,664)	14.9	(591,828)		(340,062)	74.0
Net profit for the period	610,426	828,652	(26.3)	1,900,260	1,756,409	8.2
Attributable to:
Equity holders of the Company	558,266	783,937	(28.8)	1,704,160	1,631,784	4.4
Non-controlling interests	52,160		44,715	16.6	196,100		124,625	57.4
	610,426	828,652	(26.3)	1,900,260	1,756,409	8.2
	Sen		Sen		Sen		Sen
Earnings per share - basic	51.8	72.7		158.1	151.3
Earnings per share - diluted	N/A		N/A		N/A		N/A
N/M - Not meaningful
N/A - Not applicable

The Condensed Consolidated Statement of Profit or Loss should be read in conjunction with the Annual Financial Report for the year ended 30 September 2021.

1

KUALA LUMPUR KEPONG BERHAD

197301001526 (15043-V)

Condensed Consolidated Statement of Other Comprehensive Income

For the third quarter ended 30 June 2022

(The figures have not been audited.)

	Individual Quarter	Cumulative Quarter
	3 months ended	9 months ended
	30 June		30 June
	2022	2021	2022	2021
	RM'000	RM'000	RM'000	RM'000
Net profit for the period	610,426	828,652	1,900,260	1,756,409
Other comprehensive income/(loss) that
will be reclassified subsequently to
profit or loss
Currency translation differences	40,560	40,211	14,444	146,850
Share of other comprehensive (loss)/income
in associates	(654)	(237)	22,485	(51,793)
	39,906	39,974	36,929	95,057
Other comprehensive (loss)/income that
will not be reclassified subsequently to
profit or loss
Net change in fair value of equity
instruments	(118,587)	11,969	53,774	76,871
Share of other comprehensive income in
associates	-	-	19,544	16,545
	(118,587)	11,969	73,318	93,416
Total other comprehensive (loss)/income for
the period	(78,681)	51,943	110,247	188,473
Total comprehensive income for the period	531,745	880,595	2,010,507	1,944,882
Attributable to:
Equity holders of the Company	485,722	841,543	1,820,700	1,817,541
Non-controlling interests	46,023	39,052	189,807	127,341
	531,745	880,595	2,010,507	1,944,882

The Condensed Consolidated Statement of Other Comprehensive Income should be read in conjunction with the Annual Financial Report for the year ended 30 September 2021.

2

KUALA LUMPUR KEPONG BERHAD

197301001526 (15043-V)

Condensed Consolidated Statement of Financial Position

As at 30 June 2022

(The figures have not been audited.)

	30 June		30 September
	2022	2021
	RM'000		RM'000
Assets
Property, plant and equipment	11,858,790	11,014,851
Right-of-use assets	1,362,424	1,316,628
Inventories	1,990,652	2,035,257
Goodwill on consolidation	332,192	327,417
Intangible assets	17,778	20,907
Investments in associates	1,924,912	1,777,894
Investments in joint ventures	169,807	179,649
Other investments	655,440	598,959
Other receivables	396,678	444,389
Deferred tax assets	354,185		338,660
Total non-current assets	19,062,858		18,054,611
Inventories	4,286,149	2,991,026
Biological assets	200,542	210,218
Trade and other receivables	3,448,787	3,167,272
Contract assets	61,931	7,448
Tax recoverable	40,904	25,021
Derivative financial assets	320,747	162,459
Short term funds	121,283	253,405
Cash and cash equivalents	3,280,052		3,205,971
Total current assets	11,760,395		10,022,820
Total assets	30,823,253	28,077,431
Equity
Share capital	1,379,249	1,375,695
Reserves	12,152,438		10,510,376
	13,531,687	11,886,071
Less: Cost of treasury shares	(24,504)		(26,809)
Total equity attributable to equity holders of the Company	13,507,183	11,859,262
Non-controlling interests	1,757,774		2,347,778
Total equity	15,264,957	14,207,040
Liabilities
Deferred tax liabilities	1,092,582	965,959
Lease liabilities	123,462	133,457
Deferred income	92,333	98,465
Provision for retirement benefits	561,958	559,576
Borrowings	7,172,451		5,612,880
Total non-current liabilities	9,042,786		7,370,337
Trade and other payables	2,146,898	2,734,106
Contract liabilities	149,378	120,584
Deferred income	8,633	8,598
Lease liabilities	22,262	24,975
Borrowings	3,399,496	3,152,482
Tax payable	199,883	221,142
Derivative financial liabilities	373,329	238,167
Dividend payable	215,631		-
Total current liabilities	6,515,510		6,500,054
Total liabilities	15,558,296	13,870,391
Total equity and liabilities	30,823,253	28,077,431
Net assets per share attributable to equity holders
of the Company (RM)	12.53	11.00

The Condensed Consolidated Statement of Financial Position should be read in conjunction with the Annual Financial Report for the year ended 30 September 2021.

3

								KUALA LUMPUR KEPONG BERHAD
									197301001526 (15043-V)
	Condensed Consolidated Statement of Changes in Equity
		For the third quarter ended 30 June 2022
		(The figures have not been audited.)
			Attributable to the equity holders of the Company
			Exchange	Fair					Non-
	Share	Capital	fluctuation	value	Retained	Other	Treasury		controlling	Total
	capital	reserve	reserve	reserve	earnings	reserve	shares	Total	interests	Equity
	RM'000	RM'000	RM'000	RM'000	RM'000	RM'000	RM'000	RM'000	RM'000	RM'000
At 1 October 2021	1,375,695	1,568,336	113,371	743,755	9,019,962	(935,048)	(26,809)	11,859,262	2,347,778	14,207,040
Net change in fair value of equity instruments	-	-	-	53,774	-	-	-	53,774	-	53,774
Realisation on fair value of equity instruments	-	-	-	(164)	164	-	-	-	-	-
Transfer of reserves	-	70,989	-	-	(70,989)	-	-	-	-	-
Share of comprehensive income in associates	-	-	22,485	-	19,544	-	-	42,029	-	42,029
Currency translation differences	-	322	20,415	-	-	-	-	20,737	(6,293)	14,444
Total other comprehensive income/(loss) for the period	-	71,311	42,900	53,610	(51,281)	-	-	116,540	(6,293)	110,247
Profit for the period	-	-	-	-	1,704,160	-	-	1,704,160	196,100	1,900,260
Total comprehensive income for the period	-	71,311	42,900	53,610	1,652,879	-	-	1,820,700	189,807	2,010,507
Acquisition through business combination	-	-	-	-	-	-	-	-	213,189	213,189
Expiry of unconditional mandatory general offer on
acquisition of remaining shares in a subsidiary	-	-	-	-	-	126,015	-	126,015	-	126,015
Purchase of shares from non-controlling interests	-	-	11	-	(30,031)	809,033	-	779,013	(856,834)	(77,821)
Issuance of shares to non-controlling interests	-	-	-	-	-	-	-	-	10	10
Redemption of redeemable preference shares	-	-	-	-	-	-	-	-	(6,400)	(6,400)
Surplus on capital reduction	-	(4,700)	-	-	4,700	-	-	-	-	-
Employees' share grant scheme	3,554	-	-	-	-	-	2,305	5,859	-	5,859
Effect of changes in shareholdings in subsidiaries	-	-	(2,297)	-	(3,213)	-	-	(5,510)	1,969	(3,541)
Dividend paid - FY2021 final	-	-	-	-	(862,525)	-	-	(862,525)	-	(862,525)
Dividend payable - FY2022 interim	-	-	-	-	(215,631)	-	-	(215,631)	-	(215,631)
Dividends paid to non-controlling interests	-	-	-	-	-	-	-	-	(131,745)	(131,745)
Total transactions with owners of the Company	3,554	(4,700)	(2,286)	-	(1,106,700)	935,048	2,305	(172,779)	(779,811)	(952,590)
At 30 June 2022	1,379,249	1,634,947	153,985	797,365	9,566,141	-	(24,504)	13,507,183	1,757,774	15,264,957

4