LPI Capital Bhd : Second Quarter Financial Statements For Year 2021

LPI CAPITAL BHD
		SUMMARY OF THE KEY FINANCIAL INFORMATION
		FOR THE FINANCIAL PERIOD ENDED 30 JUNE 2021
			(the figures have not been audited)
		INDIVIDUAL PERIOD	CUMULATIVE PERIOD
		CURRENT PRECEDING YEAR	CURRENT	PRECEDING YEAR
		YEAR	CORRESPONDING	YEAR	CORRESPONDING
		QUARTER	QUARTER	TO DATE	PERIOD
		ENDED	ENDED	ENDED	ENDED
		30/06/2021	30/06/2020	30/06/2021	30/06/2020
		RM'000	RM'000	RM'000	RM'000
1	Revenue	419,993	399,545	860,779	803,453
2	Profit before tax	109,898	100,297	208,046	198,213
3	Profit for the period	83,919	77,401	166,229	155,318
4	Profit attributable
	to ordinary equity
	holders of the
	parent	83,919	77,401	166,229	155,318
5	Basic earnings per
	share (sen)	21.07	19.43	41.73	38.99
6	Proposed/ declared
	dividend per
	share (sen)	29.00	28.00	29.00	28.00
		AS AT END OF CURRENT	AS AT PRECEDING
		QUARTER	FINANCIAL YEAR END

7 Net assets per share attributable to

ordinary equity
holders of the
parent (RM)	5.1690	5.1873

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LPI CAPITAL BHD

Condensed Consolidated Statement of Profit or Loss for the Quarter Ended 30 June 2021 - Unaudited

	Individual Period	Cumulative Period
	Current	Preceding Year	Current	Preceding Year
	Year	Corresponding	Year	Corresponding
	Quarter	Quarter	To Date	Period
	Ended	Ended	Ended	Ended
	30.06.2021	30.06.2020	30.06.2021	30.06.2020
	RM'000	RM'000	RM'000	RM'000
Operating revenue	419,993	399,545	860,779	803,453
Gross written premiums	369,389	340,907	840,100	826,902
Change in unearned premiums provision	35,351	40,699	(37,858)	(77,757)
Gross earned premiums	404,740	381,606	802,242	749,145

Gross written premiums ceded to reinsurers Change in unearned premiums provision Premiums ceded to reinsurers

Net earned premiums

Investment income Realised gains Fair value gains Commission income

Net reversal of impairment loss on insurance receivables Other operating income

Other income

Gross claims paid

Claims ceded to reinsurers Gross change in claims liabilities

Change in claims liabilities ceded to reinsurers

Net claims incurred

Fair value losses Commission expense Management expenses

Net impairment loss on insurance receivables Net impairment loss on investments carried at

amortised cost Other operating expense

Other expenses

(141,231)	(116,361)	(316,520)	(307,807)
(16,266)	(13,808)	14,012	47,209
(157,497)	(130,169)	(302,508)	(260,598)
247,243	251,437	499,734	488,547
15,253	17,939	58,537	54,308
-	1	-	1
8,295	11,539	531	4,666
29,273	26,356	59,483	63,530
262	-	-	-
835	741	1,493	2,187
53,918	56,576	120,044	124,692
(134,398)	(96,328)	(293,684)	(236,149)
54,635	29,322	118,198	72,092
42,717	(59,328)	(72,297)	(53,196)
(51,486)	11,713	60,791	(7,065)
(88,532)	(114,621)	(186,992)	(224,318)
(229)	(58)	(29,920)	(1,138)
(43,998)	(42,471)	(86,241)	(85,993)
(57,588)	(50,052)	(107,636)	(103,216)
-	(596)	(942)	(1,464)
-	-	-	(1)
(1,010)	-	(914)	-
(102,825)	(93,177)	(225,653)	(191,812)

Operating profit	109,804	100,215	207,133	197,109
Finance cost	(414)	(465)	(845)	(936)
Share of profit after tax of equity accounted
associated company	508	547	1,758	2,040
Profit before tax	109,898	100,297	208,046	198,213
Tax expense	(25,979)	(22,896)	(41,817)	(42,895)
Profit for the period	83,919	77,401	166,229	155,318
Profit attributable to:
Owners of the Company	83,919	77,401	166,229	155,318
Earnings per ordinary share (sen)
- Basic	21.07	19.43	41.73	38.99
- Diluted	N/A	N/A	N/A	N/A

N/A - Not Applicable.

Note : The Condensed Consolidated Statement of Profit or Loss should be read in conjunction with the Annual Financial Report for the year ended 31 December 2020.

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LPI CAPITAL BHD

Condensed Consolidated Statement of Profit or Loss and Other Comprehensive Income for the Quarter Ended 30 June 2021 - Unaudited

	Individual Period	Cumulative Period
	Current	Preceding Year	Current	Preceding Year
	Year	Corresponding	Year	Corresponding
	Quarter	Quarter	To Date	Period
	Ended	Ended	Ended	Ended
	30.06.2021	30.06.2020	30.06.2021	30.06.2020
	RM'000	RM'000	RM'000	RM'000
Profit for the period	83,919	77,401	166,229	155,318
Other comprehensive income
Items that are or may be reclassified subsequently
to profit or loss
Foreign currency translation differences for foreign operation	1,491	(140)	2,580	1,440
Items that will not be reclassified to profit or loss
Net (losses)/gains on investments in equity instruments designated at
fair value through other comprehensive income	(19,865)	26,398	(2,253)	(129,546)
Income tax relating to these items	149	(142)	47	821
Total other comprehensive (loss)/income for the period, net of tax	(18,225)	26,116	374	(127,285)
Total comprehensive income for the period attributable to
owners of the Company	65,694	103,517	166,603	28,033

Note : The Condensed Consolidated Statement of Comprehensive Income should be read in conjunction with the Annual Financial Report for the year ended 31 December 2020.

3

LPI CAPITAL BHD

Condensed Consolidated Statement of Financial Position As At 30 June 2021 - Unaudited

			As At		As At
	30.06.2021	31.12.2020
			RM'000		RM'000
Assets
Plant and equipment	5,126	6,423
Right-of-use assets	39,252	42,227
Investment properties	27,934	27,572
Intangible assets	7,539	8,950
Investment in an associated company	38,079	35,321
Other investments	2,080,660	1,851,962
Fair value through other comprehensive income		905,410		907,613
Fair value through profit or loss		1,117,165		891,405
Amortised cost		58,085		52,944
Deferred tax assets	3,491	-
Reinsurance assets	1,095,435	1,020,006
Loans and receivables, excluding
insurance receivables	1,001,299	1,169,054
Insurance receivables	231,297	163,647
Deferred acquisition costs	40,598	43,756
Current tax assets	28	-
Cash and cash equivalents	105,675	150,788
Total assets		4,676,413		4,519,706
Equity
Share capital	398,383	398,383
Reserves	1,668,399	1,677,085
Total equity	2,066,782	2,075,468
Liabilities
Insurance contract liabilities	2,280,245	2,168,123
Deferred tax liabilities	-	3,905
Lease liabilities	40,868	43,571
Insurance payables	137,557	100,457
Other payables	116,344	103,302
Current tax payables	34,617	24,880
Total liabilities	2,609,631	2,444,238
Total equity and liabilities
	4,676,413		4,519,706

Note : The Condensed Consolidated Statement of Financial Position should be read in conjunction with the Annual Financial Report for the year ended 31 December 2020.

4

LPI CAPITAL BHD

Condensed Consolidated Statement of Changes in Equity for the Period Ended 30 June 2021 - Unaudited

		Non-distributable		Distributable
		Foreign
		currency	Fair
	Share	translation	value	Retained
	capital	reserve	reserve	earnings	Total
	RM'000	RM'000	RM'000	RM'000	RM'000
6 Months Period Ended 30 June 2021
At 1 January 2021	398,383	22,753	748,242	906,090	2,075,468
Foreign currency translation differences for foreign operation	-	2,580	-	-	2,580
Net gains on investments in equity instruments designated
at fair value through other comprehensive income	-	-	(2,206)	-	(2,206)
Total other comprehensive income for the period	-	2,580	(2,206)	-	374
Profit for the period	-	-	-	166,229	166,229
Total comprehensive income for the period	-	2,580	(2,206)	166,229	166,603
Distributions to owners of the Company
Dividends to owners of the Company	-	-	-	(175,289)	(175,289)
Total transaction with owners of the Company	-	-	-	(175,289)	(175,289)
At 30 June 2021	398,383	25,333	746,036	897,030	2,066,782

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