Malakoff Berhad : Download Quarterly Report (0.24 MB)

Malakoff Corporation Berhad (200601011818/731568-V)								Page 1 of 20
Condensed Consolidated Statements of Profit or Loss and Other Comprehensive Income
Quarterly Report on Unaudited Consolidated Results
For the Period Ended 30 September 2021
						Cumulative		Cumulative
	3 months	3 months		9 months		9 months
	ended	ended		ended		ended
	30.09.2021			30.09.2020	30.09.2021	30.09.2020
	RM'000	RM'000		RM'000		RM'000
	(Unaudited)	(Unaudited)		(Unaudited)		(Unaudited)
Revenue	1,583,751			1,482,895	4,519,367	4,763,037
Cost of sales	(1,287,782)			(1,239,038)		(3,575,929)		(3,912,988)
Gross profit	295,969			243,857	943,438	850,049
Other income	5,425			7,562	16,224	64,071
Administrative expenses	(49,280)			(54,071)	(159,763)	(163,206)
Impairment loss on financial instruments	(6,210)			(6,137)	(18,423)	(19,327)
Other operating expenses	(40,747)			(28,655)		(96,095)		(73,912)
Results from operating activities	205,157			162,556	685,381	657,675
Finance income	28,208			40,975		88,266		136,607
Finance costs	(172,276)			(185,622)		(515,445)		(565,003)
Net finance costs	(144,068)			(144,647)	(427,179)	(428,396)
Share of profit of equity-accounted associates
and joint ventures, net of tax	57,495			49,676		146,758		141,033
Profit before tax	118,584			67,585	404,960	370,312
Tax expense	(45,846)			(6,997)		(128,413)		(91,414)
Profit for the period	72,738			60,588	276,547	278,898
Other comprehensive income/(expense), net of tax
Items that will not be reclassified subsequently to
profit or loss
Remeasurement of defined benefit liabilities	-			-	(32)	(4,393)
Items that may be reclassified subsequently to
profit or loss
Cash flow hedge	17,259			(2,568)		38,068		(72,223)
Share of gain/(loss) on hedging reserve of
equity-accounted associates and joint ventures	8,826			(17,431)		52,447		(47,175)
Foreign currency translation differences
for foreign operations	1,254			(6,445)		9,319		18
	27,339			(26,444)	99,834	(119,380)
Other comprehensive income/(expense) for the period	27,339			(26,444)	99,802	(123,773)
Total comprehensive income for the period	100,077			34,144	376,349	155,125

Malakoff Corporation Berhad (200601011818/731568-V)

Page 2 of 20

Condensed Consolidated Statements of Profit or Loss and Other Comprehensive Income

Quarterly Report on Unaudited Consolidated Results

For the Period Ended 30 September 2021

	3 months		3 months		9 months		9 months
	ended		ended		ended		ended
	30.09.2021	30.09.2020	30.09.2021	30.09.2020
	RM'000		RM'000		RM'000		RM'000
	(Unaudited)		(Unaudited)		(Unaudited)		(Unaudited)
Profit attributable to:
Owners of the Company	67,160	50,802	245,338	244,939
Non-controlling interests	5,578		9,786		31,209		33,959
Profit for the period	72,738	60,588	276,547	278,898
Total comprehensive income attributable to:
Owners of the Company	94,499	24,358	345,140	121,166
Non-controlling interests	5,578		9,786		31,209		33,959
Total comprehensive income for the period	100,077	34,144	376,349	155,125
Earnings per ordinary share (sen)
Basic/diluted	1.37	1.04	5.02	5.01

Malakoff Corporation Berhad (200601011818/731568-V)			Page 3 of 20
Condensed Consolidated Statements Of Financial Position
As At 30 September 2021
	As at		As at
	30.09.2021	31.12.2020
	RM'000		RM'000
	(Unaudited)		(Audited)
Assets
Property, plant and equipment	11,843,507	12,391,428
Investment properties	15,300	15,300
Concession assets	156,060	167,837
Intangible assets	2,913,359	3,144,168
Investments in associates	905,983	798,841
Investments in joint ventures	760,007	668,364
Other investments	2,484	23,999
Derivative financial assets	290,354	231,170
Trade and other receivables	445,541	480,666
Deferred tax assets	191,699		194,583
Total non-current assets	17,524,294		18,116,356
Trade and other receivables	1,284,259	884,184
Inventories	741,384	591,799
Current tax assets	87,394	90,627
Other investments	3,034,535	3,378,157
Cash and cash equivalents	754,128	1,062,600
Assets classified as held for sale	65,000		65,000
Total current assets	5,966,700		6,072,367
Total assets	23,490,994	24,188,723
Equity
Share capital	5,693,055	5,693,055
Treasury shares	(98,647)	(98,647)
Reserves	161,803	61,969
Accumulated losses	(262,763)		(348,468)
Equity attributable to owners of the Company	5,493,448	5,307,909
Perpetual sukuk	800,000	800,000
Non-controlling interests	310,210		336,802
Total equity	6,603,658	6,444,711
Liabilities
Loans and borrowings	8,912,830	9,717,431
Lease liabilities	7,614	6,746
Employee benefits	109,128	100,483
Provision for decommissioning cost	104,798	99,893
Provision for concession assets	293,595	267,715
Deferred income	3,135,071	3,357,888
Derivative financial liabilities	10,897	15,381
Deferred tax liabilities	1,131,146		1,200,943
Total non-current liabilities	13,705,079		14,766,480

Malakoff Corporation Berhad (200601011818/731568-V)			Page 4 of 20
Condensed Consolidated Statements Of Financial Position
As At 30 September 2021
	As at		As at
	30.09.2021	31.12.2020
	RM'000		RM'000
	(Unaudited)		(Audited)
Trade and other payables	1,287,827	1,360,268
Current tax liabilities	33,476	16,894
Loans and borrowings	1,421,006	1,164,663
Lease liabilities	2,770	6,616
Provision for decommissioning cost	20,056	11,809
Provision for concession assets	26,691	26,691
Deferred income	390,431		390,591
Total current liabilities	3,182,257		2,977,532
Total liabilities	16,887,336		17,744,012
Total equity and liabilities	23,490,994	24,188,723
Net assets per share attributable to
ordinary equity holders of the parent (RM)	1.12	1.09

Malakoff Corporation Berhad (200601011818/731568-V)

Page 5 of 20

Condensed Consolidated Statement of Changes in Equity

For the Period Ended 30 September 2021

	/----------------	Attributable to owners of the Company	----------------/
	/---------------------	Non-distributable---------------------	/	Distributable
			Reserves
	Share	Treasury				Accumulated		Perpetual	Non-controlling	Total
	Capital	Shares	Translation	Hedging	Losses	Total	Sukuk	Interests	Equity
	RM'000	RM'000	RM'000	RM'000	RM'000	RM'000	RM'000	RM'000	RM'000
At 1 January 2021	5,693,055	(98,647)	(12,657)	74,626		(348,468)	5,307,909	800,000	336,802	6,444,711
Remeasurement of defined benefit liabilities	-	-	-	-		(32)	(32)	-	-	(32)
Foreign currency translation
differences for foreign operations	-	-	9,319	-		-	9,319	-	-	9,319
Cash flow hedge	-	-	-	38,068		-	38,068	-	-	38,068
Share of gain on hedging reserve of
equity-accounted associates and joint ventures	-	-	-	52,447		-	52,447	-	-	52,447
Other comprehensive income/(expense)
for the period	-	-	9,319	90,515		(32)	99,802	-	-	99,802
Profit for the period	-	-	-	-		245,338	245,338	-	31,209	276,547
Comprehensive income for the period	-	-	9,319	90,515		245,306	345,140	-	31,209	376,349
Profit distribution of perpetual sukuk	-	-	-	-		(47,200)	(47,200)	-	-	(47,200)
Dividends to owners of the Company	-	-	-	-		(112,401)	(112,401)	-	-	(112,401)
Dividends to non-controlling interests	-	-	-	-		-	-	-	(52,711)	(52,711)
Redemption of preference shares
to non-controlling interests	-	-	-	-		-	-	-	(5,090)	(5,090)
Total distribution to owners	-	-	-	-		(112,401)	(112,401)	-	(57,801)	(170,202)
At 30 September 2021	5,693,055	(98,647)	(3,338)	165,141		(262,763)	5,493,448	800,000	310,210	6,603,658